TCR_Public/130823.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Friday, August 23, 2013, Vol. 17, No. 233


                            Headlines

1250 OCEANSIDE: May Hire ETL Accounting & Pay Tom Quitiquit
1250 OCEANSIDE: Hyatt & Stubblefield Approved as Special Counsel
1ST FINANCIAL: Posts $1.7 Million Net Income in Second Quarter
7M HOLDING: Case Summary & 9 Largest Unsecured Creditors
ACCESS PHARMACEUTICALS: Posts $1.6 Million Net Income in Q2

AEROGROW INTERNATIONAL: Incurs $335,000 Net Loss in June 30 Qtr.
AFFIRMATIVE INSURANCE: Posts $1.5 Million Net Income in Q2
AGFEED INDUSTRIES: Shareholder Group Criticizes Marketing Efforts
AGFEED INDUSTRIES: Judge Wants More Info On CFO Bonus Pay
AIRTRONIC USA: Files Amended Bankruptcy Reorganization Plan

ALL AMERICAN PET: Incurs $897,000 Net Loss in Second Quarter
ALLIED INDUSTRIES: Can Use Cash Collateral Thru Yearend
ALLIED INDUSTRIES: Can Assume Real Property Leases Til Oct. 17
ALLIED INDUSTRIES: Gets Court Nod to Hire G. Gelman as Accountants
ALLIED SYSTEMS: PBGC to Take Control of Pension Plans

ALLIED DEFENSE: Had $43.3MM Net Assets in Liquidation at June 30
AMARU INC: Delays Form 10-Q for Second Quarter
AMERICAN AIRLINES: Files Motion to Set Nov. 12 Merger Trial Date
AMERICAN AIRLINES: Unions Call for Speedy Trial in Merger Suit
AMERICAN DENTAL: S&P Lowers CCR to 'B-'; Outlook Negative

AMERICAN NATURAL: Incurs $108,800 Net Loss in Second Quarter
AMERICAN PETRO-HUNTER: Delays Form 10-Q for Second Quarter
AMERICAN POWER: Lowers Net Loss to $384,000 in 2nd Quarter
ARLINGTON PIPE: Voluntary Chapter 11 Case Summary
ARMORWORKS ENTERPRISES: Wittie Letsche Okayed as Special Counsel

ASSURED PHARMACY: Incurs $1.8 Million Net Loss in Second Quarter
ATLS ACQUISITION: Given Exclusivity on Plan Filing Thru Oct. 24
ATP OIL: Contractors Sue to Enforce $25MM in Liens
BANK OF THE CAROLINAS: Files Form 10-Q, Incurs $965K Loss in Q2
BBX CAPITAL: Incurs $2.8 Million Net Loss in Second Quarter

BELLE FOODS: Files Schedules of Assets and Liabilities
BELLE FOODS: Can Get Up to $34.8MM in Loans From Southern Family
BEST BUY: S&P Revises Outlook to Stable & Affirms 'BB' CCR
BIO-KEY INTERNATIONAL: Incurs $554,800 Net Loss in Second Quarter
BIONOL CLEARFIELD: Settles Pipeline Co.'s Sale Objections

BIOVEST INTERNATIONAL: Posts $2.5MM Net Income in June 30 Qtr.
BONDS.COM GROUP: Incurs $1.2 Million Net Loss in Second Quarter
BOOZ ALLEN: $1BB Loan Repricing No Impact on Moody's Ba3 CFR
BRASA (HOLDINGS): $25MM Term Loan Increase No Impact on B2 CFR
BROADCAST INTERNATIONAL: Incurs $457,000 Net Loss in 2nd Quarter

BRONX AL: Case Summary & 2 Unsecured Creditors
CANAL CREATIVE: Voluntary Chapter 11 Case Summary
CASA DE CAPRI: Case Summary & 20 Largest Unsecured Creditors
CHARTER SCHOOL: S&P Lowers Rating on 2012A & 2012B Bonds to 'B'
CHILE MINING: Delays June 30 Quarter Form 10-Q for Audit

CHINA SHIANYUN: Incurs $185,000 Net Loss in Second Quarter
CICERO INC: Reports $896,000 Net Loss in Second Quarter
COSTA BONITA: Seeks to Extend Plan Filing Deadline to Oct. 25
COVENTRY MALL: Area Mall Goes Into Receivership
CPG INT'L: No Immediate Impact on Moody's Rating over Ares Deal

CRAVEN PROPERTIES: US Trustee Seeks Dismissal or Ch.7 Conversion
CRAVEN PROPERTIES: Files Amended Schedules of Assets and Debts
CRYSTAL COAST: Case Summary & 16 Largest Unsecured Creditors
CUI GLOBAL: Posts $294,700 Consolidated Net Income in 2nd Qtr.
DEE ALLEN: Disclosures Hearing for Trustee Plan on Sept. 9

DESARROLLADORA HOMEX: Bondholders Hire Restructuring Advisers
DESIGNLINE CORPORATION: Section 341(a) Meeting Set on Sept. 24
DEMCO INC: Plan Filing Period Extended Until January 31
DETROIT, MI: Bankruptcy Mediators Include Judges, Local Leader
DIALOGIC INC: Reports $5.6 Million Net Loss in Second Quarter

DOLE FOOD: Moody's Mulls Downgrade Following Privatization Talks
DUMA ENERGY: To Acquire Hydrocarb Corporation
EARL GAUDIO: Hires First Midwest Bank as Custodian
EASTMAN KODAK: Gets Approval of Deal Rejecting Insurance Policies
EASTMAN KODAK: Wins Court Approval to Assume Carestream Contracts

EASTMAN KODAK: Court Approves Deal Resolving Rousselot Objection
EIRE 26: Case Summary & 5 Largest Unsecured Creditors
EMBROIDERY C: Case Summary & 4 Unsecured Creditors
ENVISION HEALTHCARE: Moody's Alters Rating Outlook to Stable
EXCEL MARITIME: Committee Seeks to Hire Jefferies as Banker

EXCEL MARITIME: Wins Subpoena Of Creditors' Financial Docs
FINJAN HOLDINGS: Delays Form 10-Q for Second Quarter
FIRST FINANCIAL: Incurs $1.1 Million Net Loss in Second Quarter
FIRST MARINER: Incurs $1.5 Million Net Loss in Second Quarter
FLORIDA GAMING: Miami Jai-Alai Operator Wins Nod to Use Cash

FLORIDA GAMING: Taps Salazar Jackson as Bankruptcy Counsel
FLORIDA GAMING: Case Summary & 20 Largest Unsecured Creditors
FLORIDA GAMING: Delays Form 10-Q for Second Quarter
FNBH BANCORP: Posts $215,000 Net Income in Second Quarter
FOUR OAKS: Incurs $104,000 Net Loss in Second Quarter

FREESEAS INC: Issues 825,000 Add'l Settlement Shares to Hanover
FRIENDSHIP DAIRIES: Court Denies Request to Extend Exclusivity
FUSION TELECOMMUNICATIONS: Delays Form 10-Q for Second Quarter
GEOMET INC: Posts $42.4 Million Net Income in Second Quarter
GH BROADCASTING: Schedules of Assets and Debts Due Today

GLOBAL AXCESS: Court Clears Co. to Auction ATM Business
GLOBALSTAR INC: Meets Conditions in COFACE Facility Agreement
GOOD SAM: Reports $10.6 Million Net Income in Second Quarter
GRAYMARK HEALTHCARE: Incurs $1.6 Million Net Loss in 2nd Quarter
GREENSHIFT CORP: Incurs $722,700 Net Loss in Second Quarter

GREENSHIFT CORP: Dale Fallat Holds 12.3% Equity Stake
GREENSPUN CORP: Las Vegas Sun at Risk of Folding
GROVES IN LINCOLN: Court Confirms Creditor-Payment Plan
GRUBB & ELLIS: Wash. Appeals Court Affirms Leonard Suit Dismissal
HALLWOOD GROUP: Files Form 10-Q, Had $357,000 Net Loss in Q2

HAMPTON ROADS: Posts $89,000 Net Income in Second Quarter
IMH FINANCIAL: Court Approves Settlement with Unitholders
INSITE WIRELESS: Fitch to Rate $39.6MM Class B Notes at 'BB-'
ILANA INDUSTRIAL: Voluntary Chapter 11 Case Summary
INDEPENDENCE TAX II: Incurs $109,000 Net Loss in June 30 Quarter

INFINITY ENERGY: Incurs $1.5 Million Net Loss in Second Quarter
INTELLICELL BIOSCIENCES: Fails to Fund $600,000 in Escrow
INTERSTATE PROPERTIES: Can Use ANICO Cash Collateral Until Aug. 30
INTERSTATE PROPERTIES: U.S. Trustee Says Plan Cannot be Confirmed
J.C. PENNEY: Board Adopts "Poison Pill" Plan

KIWIBOX.COM INC: Delays Form 10-Q for Second Quarter
LA CUADRA: Business Plaza Developer in Omaha Files Bankruptcy
LAKE DEARBORN: Case Summary & 20 Largest Unsecured Creditors
LLS AMERICA: District Judge Accepts "Ponzi Scheme" Findings
LLS AMERICA: Bankruptcy Judge Recommends Judgment Against Geib

LLS AMERICA: Bankruptcy Judge Recommends Judgment Against Peters
LLS AMERICA: Bankruptcy Judge Recommends Judgment Against Bogdan
MOBILESMITH INC: Incurs $23.2 Million Net Loss in Second Quarter
MOOD MEDIA: Moody's Revises Outlook on B2 CFR to Developing
MONTREAL MAINE: Bernstein Shur's Keach Named Chapter 11 Trustee

MOUNTAIN PROVINCE: Updates on Tuzo Mineral Resource Estimate
MTS GOLF: Has Final OK to Increased Existing Financing to $2-Mil.
MUSCLEPHARM CORP: Incurs $2.4 Million Net Loss in Second Quarter
NATIONAL HOLDINGS: Posts $805,000 Net Income in June 30 Quarter
NORD RESOURCES: Incurs $2 Million Net Loss in Second Quarter

NORTHERN BEEF: Hearing on Financing Bid Cancelled
NORTHERN BEEF: Can Employ Bantz Gosch as Counsel
NORTHERN BEEF: Withdraws Motion for DIP Financing
NORTHERN BEEF: U.S. Trustee Forms 5-Member Creditors Committee
NORTHERN BEEF: Can Employ Cozen O'Connor as Attorneys

OIL PATCH: Sec. 341(a) Creditors' Meeting Slated for Sept. 12
OLD SECOND: Files Form 10-Q, Posts $3.5 Million Net Income in Q2
ONCURE HOLDINGS: Can Seek Votes for Ch. 11 Plan, $125MM Sale
OPTIMUMBANK HOLDINGS: Files Form 10-Q, Incurs $2.3MM Loss in Q2
ORECK CORP: Techtronic Industries Completes Acquisition

ORMET CORP: Wins $10MM DIP Package, Bill Relief
OVERLAND PARK DEV'T: Moody's Keeps Ba1 Ratings
OVERLAND STORAGE: Extends Maturity of Silicon Valley Loan to 2015
PARKWAY ACQUISITION: Seeks to Hire Goldberg Weprin as Counsel
PATRIOT COAL: Peabody Liable for Benefits, 8th Cir. BAP Says

PATRIOT COAL: GCP OK'd as Special Claims Administration Counsel
PATRIOT COAL: Plan Filing Period Extended to December 1
PATRIOT COAL: Court Enters Supplemental DIP Financing Order
PATRIOT COAL: Duff & Phelps as Valuation Services Provider Okayed
PEABODY ENERGY: Weak Coal Prices Prompt Moody's to Cut CFR to Ba2

PECOS STORAGE: Case Summary & 3 Largest Unsecured Creditors
PERSONAL COMMUNICATIONS: $46-Mil. DIP Loan Requires Quick Sale
PERSONAL COMMUNICATIONS: Case Summary & Creditors List
PGI INCORPORATED: Incurs $1.7 Million Net Loss in Second Quarter
PINNACLE ENTERTAINMENT: Moody's Says Lumiere Sale is Credit Pos.

PITT PEN: UpShot Services Approved as Claims and Noticing Agent
POLYMER GROUP: S&P Puts 'B' CCR on CreditWatch Negative
POLYPORE INTERNATIONAL: S&P Revises Outlook & Affirms 'B+' CCR
PROVIDENT COMMUNITY: Incurs $1.4 Million Net Loss in 2nd Qtr.
QUANTUM FUEL: Incurs $4.5 Million Net Loss in Second Quarter

QUEEN ELIZABETH REALTY: Files Schedules of Assets and Liabilities
QUEEN ELIZABETH REALTY: Delbello Donnellan Approved as Attorneys
RAMS ASSOCIATES: Gets OK to Hire Norris McLaughlin as Attorney
RESIDENTIAL CAPITAL: Judge Says He Will OK Disclosure Statement
RESIDENTIAL CAPITAL: Exclusive Periods Extension Approved

REUTAX AG: Files Chapter 15 Petition to Recover U.S. Assets
REX SPIRITS: Case Summary & 8 Unsecured Creditors
S&K ATLANTIC: Voluntary Chapter 11 Case Summary
SALAMANOR INC.: Case Summary & 3 Largest Unsecured Creditors
SALEM COMMUNICATIONS: S&P Revises Outlook on 'B' Rating to Stable

SAN DIEGO HOSPICE: Ex Parte Application to Employ Foley Approved
SAN DIEGO HOSPICE: U.S. Trustee Objects to Liquidating Plan
SCOTTSDALE VENETIAN: Wants Solicitation Period Extended to Nov. 18
SCOTTSDALE VENETIAN: Can Use FNBH Cash Collateral Until Sept. 30
SCOTTSDALE VENETIAN: Can Use ADOR Cash Collateral Until September

SECUREALERT INC: Incurs $4.1 Million Net Loss in June 30 Quarter
SIMON WORLDWIDE: Incurs $897,000 Net Loss in Second Quarter
SOLAR POWER: Delays 2nd Quarter Form 10-Q for Accounting Issues
SPANISH BROADCASTING: Reports $1.2 Million Net Income in Q2
SR REAL ESTATE: 6,400-Acre Calif. Property in Third Bankruptcy

SR REAL ESTATE: Sec. 341(a) Meeting of Creditors on Sept. 25
SR REAL ESTATE: Case Summary & 20 Largest Unsecured Creditors
STELERA WIRELESS: Wants to Employ ALCS as Official Noticing Agent
STELERA WIRELESS: Wants to Employ Wilkinson as Special FCC Counsel
STEREOTAXIS INC: Incurs $3 Million Net Loss in 2nd Quarter

SUNRISE REAL ESTATE: Delays Form 10-Q for Second Quarter
TELKONET INC: Incurs $749,000 Net Loss in Second Quarter
TOOELE COUNTY, UTAH: Approves Tax Hike to Prevent Bankruptcy
TRANS ENERGY: Incurs $2.6 Million Net Loss in Second Quarter
TRIUS THERAPEUTICS: Faces Lawsuit Over Cubit Merger Plans

TWIN DEVELOPMENT: Gets OK to Hire Legate as Special Counsel
U.S. INFRASTRUCTURE: S&P Withdraws 'B+' Corporate Credit Rating
UNITED BANCSHARES: Posts $96,000 Net Income in 2nd Quarter
UNIVERSAL SOLAR: Incurs $257,000 Net Loss in Second Quarter
VAUGHAN COMPANY: Trustee Barred From Amending Suit v. Ultima

VERMILLION INC: Files Form 10-Q, Had $2.1-Mil. Net Loss in Q2
VERTICAL COMPUTER: Delays Form 10-Q for Second Quarter
WATERFRONT OFFICE: Secured Creditor Files Full-Payment Plan
WATERFRONT OFFICE: Gets Court Nod to Hire Zeisler as Counsel
WEST AIRPORT: U.S. Trustee Unable to Form Committee

WESTAR I: Offices Office Out of Receivership
WORLD SURVEILLANCE: Incurs $840,000 Net Loss in Second Quarter
WPCS INTERNATIONAL: First Wilshire No Longer a Shareholder
YESHIVA CHOFETZ: Files Ch. 11 Petition in White Plains
YESHIVA CHOFETZ: Case Summary & 6 Largest Unsecured Creditors

YESHIVA KTANA: Case Summary & 20 Largest Unsecured Creditors
Z TRIM HOLDINGS: Swings to $3 Million Net Income in Second Qtr.

* 7th Circ. Stuffs Pippen's Defamation Suit Against NBC, CBS
* Appeals Court Reverses Bank Tax Ruling in Win for FDIC
* Texas Regulators Throw 2 Mortgage Firms Into Receivership
* Fed Has Debated Ways to Prolong Easy-Money Policies

* SEC Set to Propose New Rule on CEO Pay
* CFPB: Mortgage Servicing Still Riddled with Problems
* Morgan Drexen Sees Conflicting Messages in CFPB Legal Standoff

* Spanky Assiter to Hold Equipment Auction on Aug. 29
* Shutts & Bowen Bankruptcy Lawyers Included in Best Lawyers List

* BOOK REVIEW: Land Use Policy in the United States

                            *********

1250 OCEANSIDE: May Hire ETL Accounting & Pay Tom Quitiquit
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Hawaii entered an
order on August 12, 2013, authorizing 1250 Oceanside Partners,
Front Nine, LLC, and Pacific Star Company, LLC to:

  * employ ETL Accounting Service, LLC as bookkeeper; and

  * compensate the law firm Tom Quitiquit Chee & Watts.

Tom Quitiquit Chee & Watts rendered postpetition services in
preparing the Monthly "Bones" Report, in the amount of $186 and
other additional charges, not to exceed $1,000.

                  About 1250 Oceanside Partners

1250 Oceanside Partners, Front Nine LLC, and Pacific Star
Company LLC, owners of the 1,800-acre Hokuli'a luxury real
estate development near Kona on the island of Hawaii, sought
Chapter 11 protection (Bankr. D. Hawaii Lead Case No. 13-00353)
on March 6, 2013, in Honolulu.

The Debtors were formed by developer Lyle Anderson and were
part of his development "empire", which included developments
in Hawaii, Arizona, New Mexico and Scotland.  The secured
lender, Bank of Scotland, declared a default and obtained
control of the Debtors in January 2008.

Development of the property, which has 3.5 miles of waterfront
on the Kona coast, stopped after the developers were declared
in default under the loan.  Oceanside and Front Nine own most
of the land within the Hokuli'a project, which is the principal
development.  Pacific Star owns the land referred to as
"Keopuka", near Hokuli'a.  The Hokuli'a was to have 730
residential units, an 18-hole golf course, club and other
amenities.

The Debtors say their assets are worth $68.1 million while they
are jointly liable to $625 million of debt to Sun Kona Finance
LLC, which acquired the Hawaii loan from Bank of Scotland.

Simon Klevansky, Esq., Alika L. Piper, Esq., and Nicole D.
Stucki, Esq., at Klevansky Piper, LLP, represent the Debtor in
its restructuring effort.  They replace the law firm of Gelber,
Gelber & Ingersoll as general counsel.

A creditors committee has not been appointed.

James A. Wagner, Esq., at Wagner Choi & Verbrugge, represents
Sun Kona Finance I, LLC and Sun Kona Finance II, LLC, as
counsel.


1250 OCEANSIDE: Hyatt & Stubblefield Approved as Special Counsel
----------------------------------------------------------------
Judge Robert J. Faris of the U.S. Bankruptcy Court for the
District of Hawaii entered an order on August 5, authorizing
1250 Oceanside Partners to employ Hyatt & Stubblefield, P.C. as
its special counsel effective March 6, 2013.

Hyatt & Stubblefield will serve as special counsel regarding
compliance with real estate and development agreements.

The Court held that Hyatt & Stubblefield does not hold or
represent an interest adverse to the Debtor or the estate with
respect to the matter for which counsel is to be employed and
whose employment is in the best interest of the estate.

Compensation and reimbursement for expenses are subject to
further court approval under 11 U.S.C. Sec. 330 and applicable
local rules and guidelines, says Judge Faris.

                  About 1250 Oceanside Partners

1250 Oceanside Partners, Front Nine LLC, and Pacific Star
Company LLC, owners of the 1,800-acre Hokuli'a luxury real
estate development near Kona on the island of Hawaii, sought
Chapter 11 protection (Bankr. D. Hawaii Lead Case No. 13-00353)
on March 6, 2013, in Honolulu.

The Debtors were formed by developer Lyle Anderson and were
part of his development "empire", which included developments
in Hawaii, Arizona, New Mexico and Scotland.  The secured
lender, Bank of Scotland, declared a default and obtained
control of the Debtors in January 2008.

Development of the property, which has 3.5 miles of waterfront
on the Kona coast, stopped after the developers were declared
in default under the loan.  Oceanside and Front Nine own most
of the land within the Hokuli'a project, which is the principal
development.  Pacific Star owns the land referred to as
"Keopuka", near Hokuli'a.  The Hokuli'a was to have 730
residential units, an 18-hole golf course, club and other
amenities.

The Debtors say their assets are worth $68.1 million while they
are jointly liable to $625 million of debt to Sun Kona Finance
LLC, which acquired the Hawaii loan from Bank of Scotland.

Simon Klevansky, Esq., Alika L. Piper, Esq., and Nicole D.
Stucki, Esq., at Klevansky Piper, LLP, represent the Debtor in
its restructuring effort.  They replace the law firm of Gelber,
Gelber & Ingersoll as general counsel.

A creditors committee has not been appointed.

James A. Wagner, Esq., at Wagner Choi & Verbrugge, represents
Sun Kona Finance I, LLC and Sun Kona Finance II, LLC, as
counsel.


1ST FINANCIAL: Posts $1.7 Million Net Income in Second Quarter
--------------------------------------------------------------
1st Financial Services Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing net income of $1.68 million on $5.75 million of total
interest income for the three months ended June 30, 2013, as
compared with net income of $347,000 on $6.43 million of total
interest income for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported net
income of $2.16 million on $11.74 million of total interest
income, as compared with net income of $931,000 on $12.97 million
of total interest income for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $692.08
million in total assets, $673.09 million in total liabilities and
$18.98 million in total stockholders' equity.

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

                        http://is.gd/ilddTO

                       About First Financial

Elizabethtown, Kentucky-based First Financial Service Corporation
is the parent bank holding company of First Federal Savings Bank
of Elizabethtown, which was chartered in 1923.  The Bank serves
six contiguous counties encompassing central Kentucky and the
Louisville metropolitan area, through its 17 full-service banking
centers and a commercial private banking center.

In its 2012 Consent Order, the Bank agreed to achieve and maintain
a Tier 1 capital ratio of 9.0 percent and a total risk-based
capital ratio of 12.0 percent by June 30, 2012.

"At December 31, 2012, the Bank's Tier 1 capital ratio was 6.53%
and the total risk-based capital ratio was 12.21%.  We notified
the bank regulatory agencies that one of the two capital ratios
would not be achieved and are continuing our efforts to meet and
maintain the required regulatory capital levels and all of the
other consent order issues for the Bank," the Company said in its
annual report for the year ended Dec. 31, 2012.

First Financial disclosed a net loss attributable to common
shareholders of $9.44 million in 2012, a net loss attributable to
common shareholders of $24.21 million in 2011 and a net loss
attributable to common shareholders of $10.45 million in 2010.

Crowe Horwath LLP, in Louisville, Kentucky, said in its report on
the consolidated financial statements for the year ended Dec. 31,
2012, "[T]he Company has recently incurred substantial losses,
largely as a result of elevated provisions for loan losses and
other credit related costs.  In addition, both the Company and its
bank subsidiary, First Federal Savings Bank, are under regulatory
enforcement orders issued by their primary regulators.  First
Federal Savings Bank is not in compliance with its regulatory
enforcement order which requires, among other things, increased
minimum regulatory capital ratios.  First Federal Savings Bank's
continued non-compliance with its regulatory enforcement order may
result in additional adverse regulatory action."


7M HOLDING: Case Summary & 9 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: 7M Holding Inc.
        606 Main Street
        Passaic, NJ 07055

Bankruptcy Case No.: 13-28283

Chapter 11 Petition Date: August 20, 2013

Court: U.S. Bankruptcy Court
       District of New Jersey (Newark)

Judge: Novalyn L. Winfield

Debtor's Counsel: Robert L. Sweeney, Esq.
                  141 Main Street, 2nd Floor
                  Hackensack, NJ 07601
                  Tel: (201) 488-0182
                  Fax: (201) 488-3463
                  E-mail: rsweeneylaw@aol.com

Scheduled Assets: $1,109,356

Scheduled Liabilities: $1,263,180

A copy of the Company's list of its largest unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/njb13-28283.pdf

The petition was signed by Kyo C. Hwang, president.


ACCESS PHARMACEUTICALS: Posts $1.6 Million Net Income in Q2
-----------------------------------------------------------
Access Pharmaceuticals, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $1.60 million on $467,000 of total revenues for the
three months ended June 30, 2013, as compared with a net loss of
$10.60 million on $690,000 of total revenues for the same period
during the prior year.

For the six months ended June 30, 2013, the Company reported net
income of $5.68 million on $1.69 million of total revenues, as
compared with a net loss of $15.49 million on $2.52 million of
total revenues for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $2.39 million
in total assets, $14.75 million in total liabilities and a $12.35
million total stockholders' deficit.

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

                         http://is.gd/0aQH8d

                    About Access Pharmaceuticals

Access Pharmaceuticals, Inc., develops pharmaceutical products
primarily based upon its nano-polymer chemistry technologies and
other drug delivery technologies.  The Company currently has one
approved product, one product candidate at Phase 3 of clinical
development, three product candidates in Phase 2 of clinical
development and other product candidates in pre-clinical
development.

Access Pharmaceuticals disclosed a net loss allocable to common
stockholders of $12.53 million on $4.40 million of total revenues
for the year ended Dec. 31, 2012, as compared with a net loss
allocable to common stockholders of $4.30 million on $1.84 million
of total revenues during the prior year.

Whitley Penn LLP, in Dallas, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that
the Company has had recurring losses from operations, negative
cash flows from operating activities and has an accumulated
deficit, which conditions raise substantial doubt about the
Company's ability to continue as a going concern.


AEROGROW INTERNATIONAL: Incurs $335,000 Net Loss in June 30 Qtr.
----------------------------------------------------------------
AeroGrow International, Inc., reported a net loss attributable to
common stockholders of $335,454 on $1.12 million of product sales
for the three months ended June 30, 2013, as compared with a net
loss attributable to common stockholders of $7.16 million on $1.41
million of product sales for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $4.93 million
in total assets, $2.24 million in total liabilities and $2.68
million in total stockholders' equity.

"Our first quarter of the 2014 fiscal year was a time of rapid
transition for AeroGrow," said Mike Wolfe, AeroGrow's president
and chief executive officer.  "We announced the closing of our
$4.5 million cash transaction with The Scott's Miracle-Gro Company
early in the quarter, and have since worked to co-brand our line
with the highly recognized and trusted Miracle-Gro brand, leverage
the broad retail sales distribution offered us by the Scott's
Miracle-Gro Company, re-invigorate our international distribution
and accelerate our new product development."

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

                        http://is.gd/aeidUb

                           About AeroGrow

Boulder, Colo.-based AeroGrow International, Inc., is a developer,
marketer, direct-seller, and wholesaler of advanced indoor garden
systems designed for consumer use and priced to appeal to the
gardening, cooking, and healthy eating, and home and office decor
markets.

Aerogrow incurred a net loss of $8.25 million for the year ended
March 31, 2013, as compared with a net loss of $3.55 million
during the prior year.


AFFIRMATIVE INSURANCE: Posts $1.5 Million Net Income in Q2
----------------------------------------------------------
Affirmative Insurance Holdings, Inc., reported net income of $1.48
million on $72.78 million of total revenues for the three months
ended June 30, 2013, as compared with a net loss of $5.69 million
on $51.75 million of total revenues for the same period last year.

For the six months ended June 30, 2013, the Company reported a net
loss of $4.76 million on $136.59 million of total revenues, as
compared with a net loss of $14.17 million on $103.21 million of
total revenues for the same period during the prior year.

Michael McClure, acting chief executive officer, stated, "We are
pleased that we achieved profitability on a quarterly basis for
the first time in years.  Our second quarter results demonstrate
continued progress as a result of actions taken with respect to
pricing, underwriting and expense reduction.  We also are
benefiting significantly from favorable non-standard personal
automobile insurance market conditions primarily in Texas and to a
lesser extent in California and Louisiana as our more aggressive
competition has subsided.  This has led to significant gross
written premium growth in 2013.  We expect these favorable
conditions to continue and possibly expand to other states.  We
are also pleased that we solved our Illinois Department of
Insurance reserve requirement issue this quarter and do not
anticipate any issues with this requirement going forward.  We are
also working with our senior lenders to find a solution for our
senior debt maturity in January 2014.  The actions we have taken
and the changes we continue to make in conjunction with the
improved market conditions should lead to continued improved
financial performance."

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

                         http://is.gd/tMn06G

                    About Affirmative Insurance

Addison, Tex.-based Affirmative Insurance Holdings, Inc., is a
distributor and producer of non-standard personal automobile
insurance policies for individual consumers in targeted geographic
markets.  Non-standard personal automobile insurance policies
provide coverage to drivers who find it difficult to obtain
insurance from standard automobile insurance companies due to
their lack of prior insurance, age, driving record, limited
financial resources or other factors.  Non-standard personal
automobile insurance policies generally require higher premiums
than standard automobile insurance policies for comparable
coverage.


AGFEED INDUSTRIES: Shareholder Group Criticizes Marketing Efforts
-----------------------------------------------------------------
Marie Beaudette, writing for DBR Small Cap, reported that a group
of AgFeed Industries Inc. shareholders said the company's
marketing efforts have been "lukewarm" leading up to an auction
for the hog producer's U.S. assets.

                      About Agfeed Industries

AgFeed Industries, formerly known as M2 P2, LLC, is an
international agribusiness with operations in the U.S. and China.
AgFeed has two business lines: animal nutrition in premix,
concentrates and complete feeds and hog production.  In the U.S.,
AgFeed's hog production unit, M2P2, is a market leader in setting
new standards for production efficiency and productivity.  AgFeed
believes the transfer of these processes, procedures and
techniques will allow its new Western-style Chinese hog production
units to set new standards for production in China.  China is the
world's largest pork market consuming 50 percent of global
production and over 62 percent of total protein consumed in China
is pork.  Hog production in China currently enjoys income tax free
status.

AgFeed Industries, Inc., and its affiliates filed voluntary
petitions under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Case No. 13-11761) on July 15, 2013, with a deal to sell most of
its subsidiaries to The Maschhoffs, LLC, for cash proceeds of $79
million, absent higher and better offers.  The Debtors estimated
assets of at least $100 million and debts of at least $50 million.

Keith A. Maib signed the petition as chief restructuring officer.
Hon. Brendan Linehan Shannon presides over the case.  Donald J.
Bowman, Jr., and Robert S. Brady, Esq., at Young, Conaway,
Stargatt & Taylor, serve as the Debtors' counsel.   BDA Advisors
Inc. acts as the Debtors' financial advisor.  The Debtors' claims
and noticing agent is BMC Group, Inc.


AGFEED INDUSTRIES: Judge Wants More Info On CFO Bonus Pay
---------------------------------------------------------
Law360 reported that a Delaware bankruptcy judge approved most of
an executive bonus plan for hog grower AgFeed Industries Inc.,
except half of the incentive pay slated for the company's chief
financial officer because he wanted more information to decide
whether the goal in the plan was too easy to achieve.

According to the report, U.S. Bankruptcy Judge Brendan L. Shannon
said that he wanted to see some metrics regarding the value of
AgFeed's assets in order to better determine whether the six
months' salary to be awarded to CFO Gerard R. Daignault, its Chief
Financial Officer, is reasonable.

As previously reported by The Troubled Company Reporter, the
Debtors want to honor their obligations in connection with certain
key executive employment and incentive agreements with Edward
Pazdro, Chief Accounting Officer, and Mr. Daignault.  Mr. Pazdro
will be paid an amount equal to 12 months' salary of his then-
current or most recent base salary upon a sale event.  Mr.
Daignault, upon a sale event, will be paid an amount equal to six
months' salary of his then-current or most recent base salary.

                      About Agfeed Industries

AgFeed Industries, formerly known as M2 P2, LLC, is an
international agribusiness with operations in the U.S. and China.
AgFeed has two business lines: animal nutrition in premix,
concentrates and complete feeds and hog production.  In the U.S.,
AgFeed's hog production unit, M2P2, is a market leader in setting
new standards for production efficiency and productivity.  AgFeed
believes the transfer of these processes, procedures and
techniques will allow its new Western-style Chinese hog production
units to set new standards for production in China.  China is the
world's largest pork market consuming 50 percent of global
production and over 62 percent of total protein consumed in China
is pork.  Hog production in China currently enjoys income tax free
status.

AgFeed Industries, Inc., and its affiliates filed voluntary
petitions under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Case No. 13-11761) on July 15, 2013, with a deal to sell most of
its subsidiaries to The Maschhoffs, LLC, for cash proceeds of $79
million, absent higher and better offers.  The Debtors estimated
assets of at least $100 million and debts of at least $50 million.

Keith A. Maib signed the petition as chief restructuring officer.
Hon. Brendan Linehan Shannon presides over the case.  Donald J.
Bowman, Jr., and Robert S. Brady, Esq., at Young, Conaway,
Stargatt & Taylor, serve as the Debtors' counsel.   BDA Advisors
Inc. acts as the Debtors' financial advisor.  The Debtors' claims
and noticing agent is BMC Group, Inc.


AIRTRONIC USA: Files Amended Bankruptcy Reorganization Plan
-----------------------------------------------------------
Global Digital Solutions, Inc. on Aug. 22 disclosed that its
planned merger partner, Airtronic USA, Inc., filed an amended
chapter 11 bankruptcy reorganization plan on August 21, 2013, with
the United States Bankruptcy Court for the Northern District of
Illinois, Eastern Division.

"The filing of this Plan is another significant step forward in
the merger process," said GDSI's President and CEO Richard J.
Sullivan.  "If the Plan is confirmed by the court on October 2,
2013, as expected, GDSI will be able to move forward to complete
its acquisition of Airtronic and Airtronic will emerge from
chapter 11 with adequate working capital fully capable of
competing effectively as a well-respected, innovative leader in
small arms manufacturing."

On or about August 13, 2012, GDSI and Airtronic announced that
they had signed a letter of intent to enter into good faith
discussions involving a potential strategic combination in which
Airtronic would be acquired by GDSI.  Having completed those good
faith discussions, the companies signed a merger agreement on or
about October 22, 2012.  The companies have been working together
to file the Plan that was filed on August 21, 2013.

              About Global Digital Solutions, Inc.

Global Digital Solutions -- http://www.gdsi.co-- is positioning
itself as a leader in providing small arms manufacturing,
complementary security and technology solutions and knowledge-
based, culturally attuned social consulting in unsettled areas.

                     About Airtronic USA, Inc.

Airtronic -- http://www.Airtronic.net-- is an electro-mechanical
engineering design and manufacturing company.  The company
provides small arms and small arms spare parts to the U.S.
Department of Defense, foreign militaries, and the law enforcement
market.  The company also manufactures medical, avionics, and
telecommunications original equipment.  The company's products
include grenade launchers, rocket propelled grenade launchers,
grenade launcher guns, flex machine guns, grenade machine guns,
rifles, and magazines.  Founded in 1990, the company is based in
Elk Grove Village, Illinois.

On May 16, 2012, the voluntary petition of Airtronic, Inc. for
liquidation under Chapter 7 was converted to chapter 11
reorganization.  The company had filed for chapter 7 bankruptcy on
March 13, 2012.


ALL AMERICAN PET: Incurs $897,000 Net Loss in Second Quarter
------------------------------------------------------------
All American Pet Company, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $897,537 on $20,947 of net sales for the three
months ended June 30, 2013, as compared with a net loss of
$396,903 on $10,930 of net sales for the same period during the
prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $1.59 million on $113,491 of net sales, as compared with a
net loss of $853,970 on $10,930 of net sales for the same period a
year ago.

The Company's balance sheet at June 30, 2013, showed $3.14 million
in total assets, $5.57 million in total liabilities and a $2.43
million total stockholders' deficit.

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

                        http://is.gd/U6dpha

Los Angeles-based All American Pet Company, Inc., develops and
markets innovative first-to-market pet wellness products including
super-premium dog food bars, dog food snacks and antibacterial paw
wipes.

"The Company has incurred consistent losses, limited liquid
assets, significant past due debts, and has a stockholders'
deficit.  According to the Company, these conditions, among
others, raise substantial doubt as to its ability to continue as a
going concern," according to the Company's quarterly report for
the period ended March 31, 2013.


ALLIED INDUSTRIES: Can Use Cash Collateral Thru Yearend
-------------------------------------------------------
Judge Maureen A. Tighe approved a stipulation between Allied
Industries, Inc., and California United Bank for further extension
of cash collateral use through Dec. 31, 2013.  The Debtor may use
Cash Collateral only up to the amounts (with a 15% variance) and
for purposes set forth in a prepared budget.

CUB is afforded adequate protection for any diminution in value of
its interest in the Cash Collateral.  Specifically, CUB is granted
a replacement lien on all of the Debtor's postpetition assets.  If
that is insufficient to satisfy in full the Cash Collateral Claim,
then CUB is granted ab allowed superpriority administrative claim
under 11 U.S.C. Sec. 503(b) in the amount of any insufficiency.

Moreover, as and for adequate protection payments to CUB for the
duration of the bankruptcy case and until a plan of reorganization
is confirmed, the Debtor will make monthly payments of $13,000,
which approximates the monthly interest charges incurred on the
CUB Loan Agreements.

Russell H. Rapoport, Esq., and Alan M. Mirman, Esq., of Mirman,
Bubman & Nahmias LLP represent California United Bank.

                    About Allied Industries

Allied Industries, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case. No. 13-11948) on March 21, 2013.  The petition was
signed by Ernesto Gutierrez as president and chief executive
officer.  The Debtor scheduled assets of $13,086,216 and
scheduled liabilities of $7,457,365.  Dheeraj K. Singhal, Esq.,
and Dixon L. Gardner, Esq. at DCDM Law Group, P.C., serve as the
Debtor's counsel.


ALLIED INDUSTRIES: Can Assume Real Property Leases Til Oct. 17
--------------------------------------------------------------
The U.S. Bankruptcy Court for Central District for California
granted Allied Industries, Inc. additional time to assume non-
residential real property leases for 90 days through Oct. 17,
2013.

                    About Allied Industries

Allied Industries, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case. No. 13-11948) on March 21, 2013.  The petition was
signed by Ernesto Gutierrez as president and chief executive
officer.  The Debtor scheduled assets of $13,086,216 and
scheduled liabilities of $7,457,365.  Dheeraj K. Singhal, Esq.,
and Dixon L. Gardner, Esq. at DCDM Law Group, P.C., serve as the
Debtor's counsel.


ALLIED INDUSTRIES: Gets Court Nod to Hire G. Gelman as Accountants
------------------------------------------------------------------
Allied Industries, Inc. obtained bankruptcy court authority to
employ Glenn M. Gelman & Associates as its accountant during the
pendency of its Chapter 11 case.  Warren E. Hennagin will be
rendering the contemplated services to be provided by the firm.

                    About Allied Industries

Allied Industries, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case. No. 13-11948) on March 21, 2013.  The petition was
signed by Ernesto Gutierrez as president and chief executive
officer.  The Debtor scheduled assets of $13,086,216 and
scheduled liabilities of $7,457,365.  Dheeraj K. Singhal, Esq.,
and Dixon L. Gardner, Esq. at DCDM Law Group, P.C., serve as the
Debtor's counsel.


ALLIED SYSTEMS: PBGC to Take Control of Pension Plans
-----------------------------------------------------
Marie Beaudette, writing for DBR Small Cap, reported that the
Pension Benefit Guaranty Corp. is taking over Allied Systems
Holdings Inc.'s pension plans, which the agency says are
underfunded by about $33 million.

                        About Allied Systems

BDCM Opportunity Fund II, LP, Spectrum Investment Partners LP, and
Black Diamond CLO 2005-1 Adviser L.L.C., filed involuntary
petitions for Allied Systems Holdings Inc. and Allied Systems Ltd.
(Bankr. D. Del. Case Nos. 12-11564 and 12-11565) on May 17, 2012.
The signatories of the involuntary petitions assert claims of at
least $52.8 million for loan defaults by the two companies.

Allied Systems, through its subsidiaries, provides logistics,
distribution, and transportation services for the automotive
industry in North America.

Allied Holdings Inc. previously filed for chapter 11 protection
(Bankr. N.D. Ga. Case Nos. 05-12515 through 05-12537) on July 31,
2005.  Jeffrey W. Kelley, Esq., at Troutman Sanders, LLP,
represented the Debtors in the 2005 case.  Allied won confirmation
of a reorganization plan and emerged from bankruptcy in May 2007
with $265 million in first-lien debt and $50 million in second-
lien debt.

The petitioning creditors said Allied has defaulted on payments of
$57.4 million on the first lien debt and $9.6 million on the
second.  They hold $47.9 million, or about 20% of the first-lien
debt, and about $5 million, or 17%, of the second-lien obligation.
They are represented by Adam G. Landis, Esq., and Kerri K.
Mumford, Esq., at Landis Rath & Cobb LLP; and Adam C. Harris,
Esq., and Robert J. Ward, Esq., at Schulte Roth & Zabel LLP.

Allied Systems Holdings Inc. formally put itself and 18
subsidiaries into bankruptcy reorganization June 10, 2012,
following the filing of the involuntary Chapter 11 petition.

The Company is being advised by the law firms of Troutman Sanders,
Gowling Lafleur Henderson, and Richards Layton & Finger.

The bankruptcy court process does not include captive insurance
company Haul Insurance Limited or any of the Company's Mexican or
Bermudan subsidiaries.  The Company also announced that it intends
to seek foreign recognition of its Chapter 11 cases in Canada.

An official committee of unsecured creditors has been appointed in
the case.  The Committee consists of Pension Benefit Guaranty
Corporation, Central States Pension Fund, Teamsters National
Automobile Transporters Industry Negotiating Committee, and
General Motors LLC.  The Committee is represented by Sidley Austin
LLP.

Yucaipa Cos. has 55 percent of the senior debt and took the
position it had the right to control actions the indenture trustee
would take on behalf of debt holders.  The state court ruled in
March 2013 that the loan documents didn't allow Yucaipa to vote.

In March 2013, the bankruptcy court also gave the official
creditors' committee authority to sue Yucaipa.  The suit includes
claims that the debt held by Yucaipa should be treated as equity
or subordinated so everyone else is paid before the Los Angeles-
based owner. The judge allowed Black Diamond to participate in the
lawsuit against Yucaipa and Allied directors.


ALLIED DEFENSE: Had $43.3MM Net Assets in Liquidation at June 30
---------------------------------------------------------------
The Allied Defense Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
total assets of $44.31 million, $1.04 million in total liabilities
and $43.26 million in net assets in liquidation at June 30, 2013.

                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 the Company's stock is no
longer publicly traded.

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

                        http://is.gd/unJr2x

                    About The Allied Defense Group

The Allied Defense Group, Inc., based in Baltimore, Maryland,
previously conducted 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 was conducted by two wholly owned subsidiaries: MECAR
sprl, formerly MECAR S.A., and ADG Sub USA, Inc., formerly MECAR
USA, Inc.


AMARU INC: Delays Form 10-Q for Second Quarter
----------------------------------------------
Amaru, Inc., was unable to file its quarterly report on Form 10-Q
for the period ended June 30, 2013, in a timely manner because the
Company was not able to complete timely its financial statements
without unreasonable effort or expense.

                          About Amaru Inc.

Singapore-based Amaru, Inc., a Nevada corporation, is in the
business of broadband entertainment-on-demand, streaming via
computers, television sets, PDAs (Personal Digital Assistant) and
the provision of broadband services.  The Company's business
includes channel and program sponsorship (advertising and
branding); online subscriptions, channel/portal development
(digital programming services); content aggregation and
syndication, broadband consulting services, broadband hosting and
streaming services and E-commerce.

Wei, Wei & Co., LLP, in Flushing, New York, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has sustained accumulated losses from operations
totaling $41,220,399 and $41,322,752 at Dec. 31, 2012, and 2011,
respectively, the Company's continued losses from operations and
the difficulty it has had in raising adequate additional
financing.  These conditions and the Company's lack of significant
revenue, raise substantial doubt about the Company's ability to
continue as going concern.


AMERICAN AIRLINES: Files Motion to Set Nov. 12 Merger Trial Date
----------------------------------------------------------------
AMR Corporation, the parent company of American Airlines, Inc.,
and US Airways Group, Inc. on Aug. 22 disclosed that they filed a
motion to set a trial date and a supporting brief in the United
States District Court for the District Of Columbia in connection
with the lawsuit filed by the U.S. Department of Justice regarding
the merger of the two airlines.  In the motion, American Airlines
and US Airways have requested a Nov. 12, 2013 trial date.

"We strongly believe in the significant benefits the merger of
American Airlines and US Airways will deliver to consumers,
communities and employees," said Tom Horton, AMR's Chairman,
President and CEO, and incoming Chairman of the Board of the new
American Airlines.  "The people of American Airlines have worked
extremely hard over the past two years to lead our company through
a remarkable and successful restructuring and turnaround.  After
all of their contributions, we are ready to move forward with this
merger.  We look forward to beginning this trial in November so we
can complete our journey toward building the new American and
deliver on the promise of this merger."

In their filing, the Companies explain that their proposed trial
date is very reasonable by recent historical standards.  The DOJ
request for 180 days, especially with one of the parties in
bankruptcy, however, would be unprecedented and unreasonable in
the circumstances.  Based on the DOJ merger cases litigated to a
decision since 2001, the average time from the DOJ's complaint to
trial is 70 days.

"We are eager to show that the DOJ's action would deny millions of
customers access to a more competitive airline that will offer
customers what they want, delivering significant benefits to
consumers, communities and employees," said Doug Parker, Chairman
and CEO, US Airways, incoming CEO of the combined company.  "The
new American Airlines is predicated on growth.  This merger is the
foundation of American's plan to exit bankruptcy and is the
cornerstone of American's and US Airways' plan to form a more
competitive and cost-effective airline to take on the country's
largest air carriers -- Delta, United Airlines, and Southwest --
and a number of fast-growing low-cost carriers, including Virgin
America, JetBlue, Spirit, and Allegiant.  We are committed to
resolving this litigation and, if necessary, will pursue all legal
options in order to achieve this merger."

                              DOJ Suit

Susan Carey, writing for The Wall Street Journal, reports that
AMR and USAir had hoped to close the proposed merger this month.
On Aug. 13, the Justice Department filed suit to block the merger,
which underpins AMR's bankruptcy-exit plan.

According to the report, the airlines noted in their filing that
the Justice Department is seeking a trial date of Feb. 10, at the
earliest.  The airlines stressed in their filing that the merger
pact has a termination clause that gives either side the right to
terminate the deal on Dec. 13 if the necessary regulatory hurdles
haven't yet been cleared. The deadline adds to the "uncertainty"
for the airlines' employees and customers if the government's
proposal for a later trial date is accepted, they said.

WSJ notes that a Justice Department spokeswoman said Thursday that
the timetable proposed by the agency "is typical in a merger
transaction of this magnitude, which affects so many consumers."
She said the schedule proposed "is almost identical" to one set by
a court in 2011, when the government sought to block the purchase
of T-Mobile USA by AT&T Inc. The two companies ultimately called
off the deal.

Karen Jacobs and Nick Brown, writing for Reuters, report that
American and its creditors face a deadline on Friday, Aug. 23, to
file briefs on why a judge should confirm American's bankruptcy
plan despite the Justice Department's challenge to the merger.
Bankruptcy Judge Sean Lane last week refused to sign off on the
plan, citing the Justice Department's opposition. He gave parties
until Friday to file briefs on the best course of action.

Reuters notes AMR, its unsecured creditors committee, and its
three primary unions all favor the tie-up. Already one union, the
Transport Workers' Union, which represents groundworkers, has
filed papers urging Judge Lane to approve, saying the Justice
Department's lawsuit is not relevant to whether the plan can or
should receive a judge's blessing.  The Union said approval of the
plan "at this juncture will satisfy one of the most fundamental
and important conditions precedent to the effectiveness of the
plan."

According to the report, AMR and its creditors committee each plan
to file papers on Friday.  US Airways will not file a brief,
according to a source close to the matter, Reuters reports.  The
source also said AMR and the creditors committee will argue that
Judge Lane is free to confirm the plan, because his approval would
not trigger implementation of the merger.  Rather, Lane's approval
would allow the parties to focus squarely on resolving the
antitrust challenge, the parties will argue.  The source declined
to be named because discussions are private.

                        Irrelevant to Plan

Law360 reported that the Transport Workers Union of America urged
a New York bankruptcy court to approve a reorganization plan that
would unite American Airlines' parent company and US Airways Group
Inc., arguing the U.S. Department of Justice's antitrust suit
aiming to scuttle the merger is irrelevant.

According to the report, the AFL-CIO member contends that neither
the filing of the DOJ's action nor the outcome of the litigation
are of concern as to whether the plan should be confirmed.

The antitrust suit is UNITED STATES OF AMERICA et al v.
COMMONWEALTH OF VIRGINIA et al., Case No. 1:13-cv-01236 (D.D.C.).

                       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.

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.

The Retiree Committee is represented by Jenner & Block LLP's
Catherine L. Steege, Esq., Charles B. Sklarsky, Esq., and Marc B.
Hankin, Esq.

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.  The deal is
subject to clearance by U.S. and foreign regulators and by the
bankruptcy judge overseeing AMR's bankruptcy case.

In April 2013, AMR filed a Chapter 11 plan of reorganization that
will carry out the merger.  By distributing stock in the merged
airlines, the plan is designed to pay all creditors in full, with
interest. The hearing before the Court to consider confirmation of
the Plan is scheduled for Aug. 15, 2013.

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: Unions Call for Speedy Trial in Merger Suit
--------------------------------------------------------------
The Allied Pilots Association, the US Airline Pilots Association,
the Association of Professional Flight Attendants, Association of
Flight Attendants-CWA, the Transport Workers Union and the
Communications Workers of America, unions representing 70,000
American Airlines and US Airways employees, including pilots,
flight attendants, mechanics, technicians, aircraft dispatchers,
call center representatives, and others, on Aug. 22 echoed the
companies' request for a November 12, 2013 trial date in
connection with the US Department of Justice's lawsuit.

The unions issued the following statement:

We urge the U.S. District Court and the Department of Justice to
begin the trial on November 12, 2013 in order to get to a speedy
resolution to this exciting merger.

Our message to consumers everywhere is simple: "Let us compete for
your business" starting as soon as possible.

Our members want a fair shot at competing in the marketplace.  The
airlines we work for, US Airways and American Airlines, can
together succeed in a way that neither airline can alone, bringing
new competition to the domestic and international airlines that
serve Americans.  The improved network and higher quality product
will attract new customers, allowing the airlines to compete with
the megacarriers in a way neither airline can do alone, creating
greater job security for our members as a result.

Delaying a trial puts our families and our customers at further
risk.  For American and its employees, the uncertainty of the last
two years in bankruptcy has already exacted a heavy toll.
Employees at US Airways have had similar hardships with two
bankruptcies since 9-11.  In order to make new American
competitive, that uncertainly should be ended as soon as possible.

The livelihoods of hard-working aviation professionals at American
and US Airways hang in the balance. Jobs are at stake if this
merger does not go through.  For our members, job security that
comes with truly competitive airlines is on hold as we wait for
trial.

Our members have borne the brunt of the severe turbulence in the
aviation industry.  Justice delayed is justice denied for our
members.  This merger makes sense for competition, customers, and
the members we represent who want nothing more than to compete
aggressively on a level playing field to serve those customers.

                Allied Pilots Association (APA)

Founded in 1963, the Allied Pilots Association --
http://www.alliedpilots.org-- is the largest independent pilot
union in the United States.  It is headquartered in Fort Worth,
Texas.  APA represents the 10,000 pilots of American Airlines.
Several hundred American Airlines pilots are on full-time military
leave of absence serving in the armed forces.

             US Airline Pilots Association (USAPA)

Headquartered in Charlotte, N.C., the US Airline Pilots
Association (USAPA) represents the more than 5,000 mainline pilots
who fly for US Airways.  USAPA's mission is to ensure safe flights
for airline passengers by guaranteeing that their lives are in the
hands of only the most qualified, competent and well-equipped
pilots.

      Association of Professional Flight Attendants (APFA)

Founded in 1977, the Association of Professional Flight Attendants
(APFA) -- http://wwww.apfa.org-- is the largest independent
Flight Attendant union in the nation.  It represents the 17,000
Flight Attendants at American Airlines.  APFA Members live in
almost every state of the nation and serve millions of Americans
as they travel the nation and the world.  Laura Glading is serving
in her second four-year term as president of the union.

    Association of Flight Attendants-Communications Workers
                     of America, AFL-CIO (AFA)

The Association of Flight Attendants 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.  Serving as the voice for Flight
Attendants in the workplace, in the aviation industry, in the
media and on Capitol Hill, AFA has transformed the Flight
Attendant profession by raising wages, benefits and working
conditions.  Nearly 60,000 Flight Attendants come together to form
AFA, part of the 700,000-member strong Communications Workers of
America (CWA), AFL-CIO.

               Transport Workers Union, AFL-CIO (TWU)

The Transport Workers Union of America (TWU) represents 200,000
workers and retirees, primarily in commercial aviation, public
transportation and passenger railroads.  Included in the union's
membership are 26,000 workers at American Airlines.  TWU
represents seven work groups at American Airlines including Fleet
Service, Aviation Maintenance Technicians (aircraft mechanics),
Stock Clerks, Dispatchers, Ground School Instructors, Flight
Simulator Technicians and Facility Maintenance Mechanics, TWU also
represents Dispatchers, Flight Crew Training Instructors and
Simulator Engineers at US Airways.  The union is an affiliate of
the AFL-CIO.

              Communications Workers of America (CWA)

CWA, the largest telecommunications union in the world, represents
over 700,000 men and women in both private and public sectors,
including over half a million workers who are building the
Information Highway.  CWA members work in telecommunications,
broadcasting, cable TV, journalism, publishing, manufacturing,
airlines, customer service, government service, health care,
education and other fields.

                     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.

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.

The Retiree Committee is represented by Jenner & Block LLP's
Catherine L. Steege, Esq., Charles B. Sklarsky, Esq., and Marc B.
Hankin, Esq.

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.  The deal is
subject to clearance by U.S. and foreign regulators and by the
bankruptcy judge overseeing AMR's bankruptcy case.

In April 2013, AMR filed a Chapter 11 plan of reorganization that
will carry out the merger.  By distributing stock in the merged
airlines, the plan is designed to pay all creditors in full, with
interest. The hearing before the Court to consider confirmation of
the Plan is scheduled for Aug. 15, 2013.

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 DENTAL: S&P Lowers CCR to 'B-'; Outlook Negative
---------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Wakefield, Mass.-based American Dental Partners
Inc. (ADP) to 'B-' from 'B'.  The outlook is negative.

At the same time, S&P lowered its credit rating on ADP's senior
secured debt to 'B-' from 'B'.  S&P's recovery rating on this debt
remains unchanged at '3', indicating its expectation for
meaningful (50% to 70%) recovery of principal in the event of
payment default.

"The rating on ADP continues to reflect the company's "vulnerable"
business risk profile, characterized by its narrow scope of
operations in intensely competitive and somewhat cyclical markets
with low barriers to entry.  We believe it will be challenging for
ADP to achieve moderate growth and lowered our expectations for
ADP's EBITDA generation and cash flow over the next year mainly
because we do not expect near-term profit margin improvement,"
said credit analyst Gail Hessol.  "We expect ADP's lease-adjusted
debt leverage (7.6x as of June 30, 2013) to remain above 7x for
the next few quarters, consistent with a "highly leveraged"
financial risk profile."

S&P's negative rating outlook on ADP reflects the possibility that
it will exhaust its revolving credit facility or violate a loan
covenant over the next year, given its expectation for negative
cash flow.  S&P could lower its ratings if liquidity deteriorates
further, as indicated by a projected covenant cushion of less than
5%.  This could result from further EBITDA margin compression,
aggressive expansion, a costly legal settlement, or other
developments.  S&P believes the company would breach a loan
covenant if bank-calculated EBITDA for the 12 months ended
March 31, 2014, is about $3 million lower than bank-calculated
EBITDA for the 12 months ended June 30, 2013.

S&P could revise the outlook to stable if it is confident that ADP
can sustain EBITDA growth, generate modest discretionary cash
flow, and maintain a covenant cushion in excess of 10%.


AMERICAN NATURAL: Incurs $108,800 Net Loss in Second Quarter
------------------------------------------------------------
American Natural Energy Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $108,867 on $890,320 of revenues for the
three months ended June 30, 2013, as compared with a net loss of
$158,361 on $566,954 of revenues for the same period last year.

For the six months ended June 30, 2013, the Company reported a net
loss of $605,142 on $1.90 million of revenues, as compared with a
net loss of $1.35 million on $1.03 million of revenues for the
same period during the prior year.

The Company's balance sheet at June 30, 2013, showed $20.11
million in total assets, $14.95 million in total liabilities and
$5.16 million in total stockholders' equity.

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

                        http://is.gd/ypyRRs

                       About American Natural

American Natural Energy Corporation is a Tulsa, Oklahoma based
independent exploration and production company with operations in
St. Charles Parish, Louisiana.

American Natural Energy Corporation filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K disclosing
a net loss of $3.31 million on $2.09 million of total revenues for
the year ended Dec. 31, 2012, as compared with a net loss of
$905,792 on $1.99 million of total revenues during the prior year.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that the
Company incurred a net loss in 2012 and has a working capital
deficiency and an accumulated deficit at Dec. 31, 2012.  These
matters raise substantial doubt about the Company's ability to
continue as a going concern.


AMERICAN PETRO-HUNTER: Delays Form 10-Q for Second Quarter
----------------------------------------------------------
American Petro-Hunter Inc. disclosed in a regulatory filing with
the U.S. Securities and Exchange Commission that it will be
delayed in the filing of its quarterly report on Form 10-Q for the
period ended June 30, 2013.  The Company said the information
necessary for the filing of a complete and accurate Form 10-Q
could not be gathered within the prescribed time period without
unreasonable effort and expense.

                     About American Petro-Hunter

Wichita, Kansas-based American Petro-Hunter, Inc., is an oil and
natural gas exploration and production (E&P) company with current
projects in Payne and Lincoln Counties in Oklahoma.

American Petro-Hunter disclosed a net loss of $3.30 million on
$308,770 of revenue for the year ended Dec. 31, 2012, as compared
with a net loss of $2.73 million on $317,931 of revenue during the
prior year.  The Company's balance sheet at March 31, 2013, showed
$1.78 million in total assets, $1.67 million in total liabilities
and $107,336 in total stockholders' equity.

Weaver Martin & Samyn, LLC, in Kansas City, Missouri, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company has suffered recurring losses from
operations and is dependent upon the continued sale of its
securities or obtaining debt financing for funds to meet its cash
requirements.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


AMERICAN POWER: Lowers Net Loss to $384,000 in 2nd Quarter
----------------------------------------------------------
American Power Group Corporation reported a net loss available to
common shareholders of $384,000 on $2.15 million of net sales for
the three months ended June 30, 2013, as compared with a net loss
available to common shareholders of $11.69 million on $890,000 of
net sales for the same period last year.

For the nine months ended June 30, 2013, the Company reported a
net loss available to common shareholders of $2.03 million on
$4.87 million of net sales, as compared with a net loss available
to common shareholders of $13.94 million on $1.85 million of net
sales for the same period during the prior year.

The Company's balance sheet at June 30, 2013, showed $10.51
million in total assets, $4.01 million in total liabilities, all
current, and $6.49 million in stockholders' equity.

Lyle Jensen, American Power Group Corporation's chief executive
officer, stated, "We experienced another strong quarter of
improved results and key operational achievements which continues
to solidify our dual fuel market leadership position in the United
States and around the world.  The perceived barriers and
limitations of using dual fuel natural gas in vehicular and
stationary applications continues to be eliminated as prospective
customers see the significant economic and environmental benefits.
APG is at the forefront of this wave of interest and positioned to
benefit from these industry trends."

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

                         http://is.gd/50THLa

                      About American Power Group

American Power Group's alternative energy subsidiary, American
Power Group, Inc., provides a cost-effective patented Turbocharged
Natural GasTM conversion technology for vehicular, stationary and
off-road mobile diesel engines.  American Power Group's dual fuel
technology is a unique non-invasive energy enhancement system that
converts existing diesel engines into more efficient and
environmentally friendly engines that have the flexibility to run
on: (1) diesel fuel and liquefied natural gas; (2) diesel fuel and
compressed natural gas; (3) diesel fuel and pipeline or well-head
gas; and (4) diesel fuel and bio-methane, with the flexibility to
return to 100% diesel fuel operation at any time.  The proprietary
technology seamlessly displaces up to 80% of the normal diesel
fuel consumption with the average displacement ranging from 40% to
65%.  The energized fuel balance is maintained with a proprietary
read-only electronic controller system ensuring the engines
operate at original equipment manufacturers' specified
temperatures and pressures.  Installation on a wide variety of
engine models and end-market applications require no engine
modifications unlike the more expensive invasive fuel-injected
systems in the market. See additional information at:
www.americanpowergroupinc.com.

American Power incurred a net loss available to common
shareholders of $14.66 million for the year ended Sept. 30, 2012,
compared with a net loss available to common shareholders of $6.81
million during the prior year.


ARLINGTON PIPE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Arlington Pipe & Supply Co.
          aka Mendenhall Hernandez Properties, L.P.
              Pleasant Ridge Inc.
        1909 W. Pleasant Ridge Road
        Arlington, TX 76015

Bankruptcy Case No.: 13-43812

Chapter 11 Petition Date: August 20, 2013

Court: U.S. Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: Russell F. Nelms

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  JOYCE W. LINDAUER, ATTORNEY AT LAW
                  8140 Walnut Hill Lane, Suite 301
                  Dallas, TX 75231
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  E-mail: courts@joycelindauer.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 Ron Mendenhall, president.


ARMORWORKS ENTERPRISES: Wittie Letsche Okayed as Special Counsel
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona authorized
Armorworks Enterprises, LLC, and TechFiber, LLC, to employ Wittie,
Letsche & Waldo, LLP, as special counsel to respond to protests
received regarding contracts awarded by the Department of the Air
Force for the Air Force C-130 Armor Plate Program.

The protests challenge Armorworks' small business status, which
requires the U.S. Small Business Administration to make a
determination as of the date of Armorworks' self-certification as
small for the purposes of procurement.

                   About ArmorWorks Enterprises

Military armor systems provider ArmorWorks Enterprises, LLC, and
affiliate TechFiber LLC sought Chapter 11 protection (Bankr. D.
Ariz. Case Nos. 13-10332 and 13-10333) in Phoenix on June 17,
2013, along with a plan that resolves a dispute with a minority
shareholder and $3.5 million of financing that would save the
company from running out of cash.

ArmorWorks develops advanced survivability technology and designs
and manufactures armor and protective products.  ArmorWorks has
produced over 1.25 million ceramic armor and composite armor
protection components for a variety of personnel armor, aircraft,
and vehicle applications.

The Debtors have tapped Todd A. Burgess, Esq., at Gallagher &
Kennedy, as counsel; and MCA Financial Group, Ltd., as financial
advisor.  ArmorWorks estimated $10 million to $50 million in
assets and liabilities.

As of May 26, 2012, ArmorWorks had total assets of $30.9 million
and total liabilities of $12.04 million.

The Plan would resolve the ongoing dispute with C Squared by
allowing ArmorWorks to redeem C Squared's 40% minority interest,
or alternatively, allow C Squared to purchase the 60% majority
interest of AWI.

ArmorWorks and TechFiber sought and obtained an order (i)
transferring the In re TechFiber, LLC chapter 11 case to the
Honorable Brenda Moody Whinery, the judge assigned to the
ArmorWorks Chapter 11 case, and (ii) authorizing the joint
administration of the Debtors' cases.


ASSURED PHARMACY: Incurs $1.8 Million Net Loss in Second Quarter
----------------------------------------------------------------
Assured Pharmacy, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $1.84 million on $2.28 million of sales for the
three months ended June 30, 2013, as compared with a net loss of
$1.22 million on $3.66 million of sales last year.

For the six months ended June 30, 2013, the Company reported a net
loss of $2.98 million on $5.18 millionof sales, as compared with a
net loss of $2.12 million on $7.31 million of sales for the same
period during the prior year.

The Company's balance sheet at June 30, 2013, showed $1.12 million
in total assets, $10.02 million in total liabilities and a $8.90
million stockholders' deficit.

                         Bankruptcy Warning

"We are attempting to extend the maturity date of all outstanding
debt securities due in the years 2012 and 2013, but can provide no
assurance that the holders of such securities will agree to extend
the maturity date on these securities on acceptable terms.  We are
also discussing the possibility of these debt holders converting
the securities into equity.  If our debt holders choose not to
convert certain of these securities into equity, we will need to
repay such debt, or reach an agreement with the debt holders to
extend the terms thereof.  If we are forced to repay the debt,
this need for funds would have a material adverse impact on our
business operations, financial condition and prospects, would
threaten our ability to operate as a going concern and may force
us to seek bankruptcy protection," the Company said in the interim
report.

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

                        http://is.gd/SrRhLw

                       About Assured Pharmacy

Headquartered in Frisco, Texas, Assured Pharmacy, Inc., is engaged
in the business of establishing and operating pharmacies that
specialize in dispensing highly regulated pain medication for
chronic pain management.

The Company was organized as a Nevada corporation on Oct. 22,
1999, under the name Surforama.com, Inc., and previously operated
under the name eRXSYS, Inc.  The Company changed its name to
Assured Pharmacy, Inc., in October 2005.

Assured Pharmacy disclosed a net loss attributable to the Company
of $4 million on $14.14 million of sales for the year ended Dec.
31, 2012, as compared with a net loss attributable to the Company
of $3.27 million on $16.44 million of sales in 2011.

BDO USA, LLP, in Dallas, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that
the Company has suffered recurring losses from operations and has
a net capital deficiency that raise substantial doubt about its
ability to continue as a going concern.


ATLS ACQUISITION: Given Exclusivity on Plan Filing Thru Oct. 24
---------------------------------------------------------------
The Honorable Peter Walsh has extended ATLS Acquisition, LLC, et
al.'s exclusive plan filing deadline to Oct. 24, 2013, and their
exclusive solicitation period to Dec. 24, 2013.

                     About Liberty Medical

Entities that own diabetics supply provider Liberty Medical led by
ATLS Acquisition, LLC, sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 13-10262) on Feb. 15, 2013, just less than
three months after a management buy-out and amid a notice by the
lender who financed the transaction that it's exercising an option
to acquire the business.

Liberty has been in business for 22 years serving the needs of
both type 1 and type 2 diabetic patients.  Liberty is a mail order
provider of diabetes testing supplies. In addition to diabetes
testing supplies, the Debtors also sell insulin pumps and insulin
pump supplies, ostomy, catheter and CPAP supplies and operate a
large mail order pharmacy.  Liberty operates in seven different
locations and has 1,684 employees.

The Debtors have tapped Greenberg Traurig, LLP as counsel; Ernst &
Young LLP to provide investment banking advice; and Epiq
Bankruptcy Solutions, LLC, as claims and noticing agent for the
Clerk of the Bankruptcy Court.

An official committee of unsecured creditors has been appointed in
the case and consists of LifeScan, Inc., Abbott Laboratories, and
Teva Pharmaceuticals USA, Inc.  They are represented by Joseph H.
Huston Jr., Esq., Maria Aprile Sawczuk, Esq., and Camille C. Bent,
Esq. of Stevens & Lee P.C. as well as Bruce Buechler, Esq., S.
Jason Teele, Esq., and Nicole Stefanelli, Esq. of Lowenstein
Sandler LLP.  The Committee has tapped Mesirow Financial
Consulting, LLC, as financial advisors.


ATP OIL: Contractors Sue to Enforce $25MM in Liens
--------------------------------------------------
Law360 reported that contractors who serviced well sites of
bankrupt ATP Oil & Gas Corp. hit the driller and two banks with an
adversary suit in Texas federal court, seeking to enforce the
status of over $25 million in liens they hold against ATP.

According to the report, Schlumberger Technology Corp., M-I LLC,
Smith International Inc. and Wireline Control Services LLC brought
the suit asking the court to compel recognition of their statutory
lien claims under the Louisiana Oil Well Lien Act and for
declaratory judgments with regard to the validity.

                          About ATP Oil

Houston, Tex.-based ATP Oil & Gas Corporation is an international
offshore oil and gas development and production company focused
in the Gulf of Mexico, Mediterranean Sea and North Sea.

ATP Oil & Gas filed a Chapter 11 petition (Bankr. S.D. Tex. Case
No. 12-36187) on Aug. 17, 2012.  Attorneys at Mayer Brown LLP,
serve as bankruptcy counsel.  Munsch Hardt Kopf & Harr, P.C., is
the conflicts counsel.  Motley Rice LLC and Fayard & Honeycutt,
APC serve as special counsel.  Opportune LLP is the financial
advisor and Jefferies & Company is the investment banker.
Kurtzman Carson Consultants LLC is the claims and notice agent.

ATP disclosed assets of $3.6 billion and $3.5 billion of
liabilities as of March 31, 2012.  Debt includes $365 million on a
first-lien loan where Credit Suisse AG serves as agent.  There is
$1.5 billion on second-lien notes with Bank of New York Mellon
Trust Co. as agent.  ATP's other debt includes $35 million on
convertible notes and $23.4 million owing to third parties for
their shares of production revenue.  Trade suppliers have claims
for $147 million, ATP said in a court filing.

An official committee of unsecured creditors has been appointed in
the case.  Evan R. Fleck, Esq., at Milbank, Tweed, Hadley &
McCloy, in New York, represents the Creditors Committee as
counsel.

A 7-member panel of equity security holders has also been
appointed in the case.  Kyung S. Lee, Esq., and Charles M. Rubio,
Esq. of Diamond McCarthy LLP, in Houston, Texas, serve as counsel
to the Equity Committee.

ATP is seeking court approval to sell substantially all of its
Deepwater Assets and Shelf Property Assets.


BANK OF THE CAROLINAS: Files Form 10-Q, Incurs $965K Loss in Q2
---------------------------------------------------------------
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 $965,000
on $3.74 million of total interest income for the three months
ended June 30, 2013, as compared with a net loss available to
common stockholders of $170,000 on $4.16 million of total interest
income for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss available to common stockholders of $774,000 on $7.56 million
of total interest income, as compared with a net loss available to
common stockholders of $2.88 million on $8.70 million of total
interest income for the same period last year.

The Company's balance sheet at June 30, 2013, showed $428.96
million in total assets, $422.73 million in total liabilities, and
$6.23 million in total stockholders' equity.

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

                         http://is.gd/ucv6Jt

                      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.

Bank of the Carolinas disclosed a net loss available to common
stockholders of $5.53 million in 2012, a net loss available to
common stockholders of $29.18 million in 2011 and a net loss
available to common stockholders of $3.56 million in 2010.

Turlington and Company, LLP, in Lexington, North Carolina, issued
a "going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company has suffered recurring credit
losses that have eroded certain regulatory capital ratios.  As of
Dec. 31, 2012, the Company is considered undercapitalized based on
their regulatory capital level.  This raises substantial doubt
about the Company's ability to continue as a going concern.


BBX CAPITAL: Incurs $2.8 Million Net Loss in Second Quarter
-----------------------------------------------------------
BBX Capital Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $2.84 million on $4.95 million of total revenues for
the three months ended June 30, 2013, as compared with a net loss
of $12.30 million on $7.48 million of total revenues for the same
period last year.

For the six months ended June 30, 2013, the Company reported a net
loss of $9.38 million on $10.55 million of total revenues, as
compared with a net loss of $26.51 million on $16.42 million of
total revenues for the same period during the prior year.

BBX Capital disclosing net income of $235.76 million in 2012, a
net loss of $28.74 million ncome in 2011 and a net loss of $143.25
million in 2010.

As of June 30, 2013, the Company had $442.03 million in total
assets, $196.63 million in total liabilities and $245.39 million
in total stockholders' equity.

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

                         http://is.gd/X2p3sJ

                          About BBX Capital

BBX Capital (NYSE: BBX), formerly known as BankAtlantic Bancorp,is
a diversified investment and asset management company.  The
business of BBX Capital includes real estate ownership, direct
acquisition and joint venture equity in real estate, specialty
finance, and the acquisition of controlling and non controlling
investments in operating businesses.

                            *     *     *

As reported by the TCR on March 1, 2011, Fitch has affirmed its
current Issuer Default Ratings for BankAtlantic Bancorp and its
main subsidiary, BankAtlantic FSB at 'CC'/'C' following the
announcement regarding the regulatory order with the Office of
Thrift Supervision.

BankAtlantic has announced that it has entered into a Cease and
Desist Order with the OTS at both the bank and holding company
level.  The regulatory order includes increased regulatory capital
requirements, limits to the size of the balance sheet, no new
commercial real estate lending and improvements to its credit risk
and administration areas.  Furthermore, the holding company must
also submit a capital plan to maintain and enhance its capital
position.


BELLE FOODS: Files Schedules of Assets and Liabilities
------------------------------------------------------
Belle Foods, LLC, submitted to the U.S. Bankruptcy Court for the
Northern District of Alabama its schedules of assets and
liabilities, disclosing:

                                         Assets        Liabilities
                                      -----------      -----------
A. Real Property                       $3,647,901
B. Personal Property                  $60,760,211
C. Property Claimed as Exempt
D. Creditors Holding Secured Claims                        Unknown
E. Creditors Holding Unsecured
      Priority Claims                                   $2,453,416
F. Creditors Holding Unsecured
      Nonpriority Claims                               $16,382,741
                                      -----------      -----------
    Total                             $64,408,112      $18,836,157
                                                        + Unknown

A copy of the Schedules is available at:

           http://bankrupt.com/misc/bellefoods.doc229.pdf

                      About Belle Foods

Belle Foods, LLC, bought 57 stores from Southern Family Markets
LLC in 2012, and put the business into Chapter 11 reorganization
(Bankr. N.D. Ala. Case No. 13-81963) on July 1, 2013, in Decatur,
Alabama.

The chain is owned by a father and son who purchased the operation
with a $4 million secured term loan and $24 million revolving
credit from the seller.  The stores are in Florida, Georgia,
Alabama and Mississippi.

The petition shows assets and debt both for more than $10 million.
C&S Wholesale Grocers Inc. is owed about $6 million on secured and
unsecured debt.  Belle Foods owes another $8 million to trade
suppliers, according to a court filing.

D, Christopher Carson, Esq., Brent W. Dorner, Esq., and Marc P.
Solomon, Esq., at Burr & Forman, LLP, represent the Debtor as
counsel.

Attorneys at Haskell Slaughter Young & Rediker, LLC, in
Birmingham, Alabama, and Otterbourg Steindler Houston & Rosen,
P.C., in New York, serve as co-counsel to the Official Committee
of Unsecured Creditors.


BELLE FOODS: Can Get Up to $34.8MM in Loans From Southern Family
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Alabama
entered on Aug. 12, 2013, authorizing Belle Foods, LLC, to obtain
a secured, superpriority postpetition debtor-in-possession
financing facility of up to $34.8 million, consisting of
(i) $33.3 million refinancing of prepetition debt, and
(ii) $1.5 million of new money financing, from Southern Family
Markets, LLC, as Agent for a lender group that includes the Agent,
C&S Wholesale Grocers, Inc., and their subsidiaries and
affiliates.

The DIP Facility matures on Oct. 4, 2013.

The Debtor is authorized to draw on the DIP Facility, subject to
the conditions precedent set forth in the Amended DIP Term Sheet,
and to use proceeds of the DIP Facility and Cash Collateral to pay
for, among other things, working capital and general corporate
purposes of the Debtor and the administration of the Bankruptcy
Case, but only in accordance with the current Budget.

The Lenders will have the right to "credit bid" the allowed
amount of any "Loans" outstanding under the DIP Facility during
any sale of any of the Debtor's assets pledged as Collateral,
including without limitation in connection with any sale pursuant
to section 363 of the Bankruptcy Code or included as part of a
plan of reorganization subject to confirmation under section
1129(b)(2)(A)(iii) of the Bankruptcy Code.

No plan of reorganization or liquidation may be confirmed in the
Bankruptcy Case unless, in connection and concurrently with the
effective date of such plan, the plan provides for the
indefeasible payment in full, in cash, and in complete
satisfaction of any Loans made under the DIP Facility, and the
loan commitments under the Amended DIP Term Sheet and this Final
Order are terminated on or before the effective date of such plan.

In the event that there is a timely, properly commenced and
successful Challenge to the validity, enforceability, extent,
perfection, valuation or priority of the Prepetition Obligations
or the security interests and liens granted under the Prepetition
Obligations, the Court reserves the right to unwind,
recharacterize or disgorge, the Prepetition Obligations in respect
of the Roll Up (and, to the extent accrued and paid after the
Petition Date, any fees, expenses, and interest) or a portion
thereof.

                  Creditors Committee's Objection

The Official Committee of Unsecured Creditors objected to the DIP
Motion, citing key features and provisions of the DIP Facility
that are extremely prejudicial to the interests and the Debtor's
estate as a whole.

According to papers filed with the Court on August 7, these
objectionable provisions include, among other things, a
stipulation that the Debtor is indebted to the Lenders in an
amount not less than $33 million secured by essentially all assets
of the Debtor - without any justification for how this amount was
calculated, a conversion or "roll up" of $33 million in
prepetition debt to postpetition debt, inappropriate case
controls, and onerous Chapter 11 milestones and releases that
constrain the Debtor's fiduciary duties to its creditors, inhibit
the Debtor's ability to sell its assets in such a way that
maximizes value for all creditors and unduly slants the playing
field in favor of the Lenders, who are also the Debtor's
prepetition lenders, supplier and the entities that sold these
assets to the Debtor in a highly leveraged and highly questionable
transaction "little more than a year ago."

                      About Belle Foods

Belle Foods, LLC, bought 57 stores from Southern Family Markets
LLC in 2012, and put the business into Chapter 11 reorganization
(Bankr. N.D. Ala. Case No. 13-81963) on July 1, 2013, in Decatur,
Alabama.

The chain is owned by a father and son who purchased the operation
with a $4 million secured term loan and $24 million revolving
credit from the seller.  The stores are in Florida, Georgia,
Alabama and Mississippi.

The petition shows assets and debt both for more than $10 million.
C&S Wholesale Grocers Inc. is owed about $6 million on secured and
unsecured debt.  Belle Foods owes another $8 million to trade
suppliers, according to a court filing.

D, Christopher Carson, Esq., Brent W. Dorner, Esq., and Marc P.
Solomon, Esq., at Burr & Forman, LLP, represent the Debtor as
counsel.

Attorneys at Haskell Slaughter Young & Rediker, LLC, in
Birmingham, Alabama, and Otterbourg Steindler Houston & Rosen,
P.C., in New York, serve as co-counsel to the Official Committee
of Unsecured Creditors.


BEST BUY: S&P Revises Outlook to Stable & Affirms 'BB' CCR
----------------------------------------------------------
Standard & Poor's Ratings Services said it revised the outlook on
Minneapolis-based Best Buy Co. Inc. to stable from negative.  S&P
also affirmed all of its ratings on the company, including the
'BB' corporate credit rating.  S&P based the outlook revision on
the company's second quarter operating results, which were better
than it expected.  While S&P believes the company could experience
some margin and profit pressure as a result of various pricing,
selling, and operational initiatives, it thinks downside risk has
moderated and that the company should be able to maintain adjusted
leverage in the high 2x area over the near term.

"The rating on Best Buy reflects our view of the company's
business risk profile as "weak", which we based on the inherent
risks of the cyclical consumer electronics business that depends
on new products for propelling sales growth.  It also incorporates
our view of the competitive environment Best Buy faces from
internet-based retail formats, discounters, warehouse clubs, and
other big-box retailers in many of its product categories," said
credit analyst Charles Pinson-Rose.  "We have revised our
financial risk assessment to "intermediate" from "significant",
which is based on our forecasted credit ratios.  We now believe
that the company will maintain operating lease adjusted leverage
in the high 2x area over the near to intermediate term."

The outlook is stable and incorporates S&P's expectation that the
sales trends should improve moderately.  While S&P expects there
could be wide range of margin performance, it expects EBITDA to
remain in a range such that leverage would remain in the high 2x
area and FFO/debt above 30%, both of which are appropriate for the
current financial risk assessment.

S&P would consider a lower corporate credit rating if adjusted
EBITDA was in $1.4 billion area, leading to adjusted debt to
EBITDA near 3.5x.  This could occur if the company's total
revenues decline by about 5% in 2013 and operating margins
declined about 150 basis points.

S&P would raise its rating on the company if it revises its
business risk assessment to "fair" from "weak", which would mostly
likely be predicated on the company's selling initiatives gaining
traction and the company growing sales and profits meaningfully
and sustainably.


BIO-KEY INTERNATIONAL: Incurs $554,800 Net Loss in Second Quarter
-----------------------------------------------------------------
BIO-key International, Inc., reported a net loss of $554,831 on
$422,257 of total revenue for the three months ended June 30,
2013, as compared with a net loss of $613,419 on $532,713 of total
revenue for the same period last year.

Total revenue for the six months ended June 30, 2013, was
$1,226,900, compared to $1,943,140 for the six months ended
June 30, 2012, a decrease of 37 percent.  The reduction in sales
resulted primarily from a 63 percent decrease in license revenue.

Net loss for the first half of 2013 was $870,409, as compared to a
net loss of $249,921 for the first half of 2012.

The Company reported cash and cash equivalents of $99,573 at
June 30, 2013, compared to $83,989 at Dec. 31, 2012.

Michael DePasquale, BIO-key CEO, noted, "Although I am
disappointed with orders slipping from our second quarter, it's
the nature of our emerging business.  We are, however, tracking to
plan with InterDigital, our sales and collections remain more
diverse, and we continue to manage expenses well."

Mr. DePasquale concluded, "Our recent working capital raise from
existing accredited investors provides us with flexibility to
continue to invest in sales, marketing and R&D as we position
ourselves to compete for business in the oncoming Mobile
Credentialing build-out.  We are very excited about the
opportunities we see emerging."

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

                       http://is.gd/9aeS3h

                           About BIO-Key

Wall, N.J.-based BIO-key International, Inc., develops and markets
advanced fingerprint biometric identification and identity
verification technologies, cryptographic authentication-
transaction security technologies, as well as related Identity
Management and Credentialing software solutions.

In its report on the consolidated financial statements for the
year ended Dec. 31, 2012, Rotenberg Meril Solomon Bertiger &
Guttilla, P.C., in Saddle Brook, New Jersey, expressed substantial
doubt about BIO-key's ability to continue as a going concern,
citing the Company's substantial net losses in recent years, and
accumulated deficit at Dec. 31, 2012.

The Company reported net income of $3,267 on $3.8 million of
revenues in 2012, compared with a net loss of $1.9 million on
$3.5 million of revenues in 2011.


BIONOL CLEARFIELD: Settles Pipeline Co.'s Sale Objections
---------------------------------------------------------
Law360 reported that a Delaware bankruptcy judge signed off on a
deal between the Chapter 7 trustee for bankrupt ethanol company
Bionol Clearfield LLC and Pennsylvania pipeline owner TWP Pipeline
LLC to resolve a dispute over Bionol's liquidation auction.

According to the report, U.S. Bankruptcy Judge Peter J. Walsh
approved the resolution of a fight over the ownership and
operation of a section of pipeline, which will hand roughly
$60,000 to the trustee after taking into account money due to TWP.

The deal finally resolves TWP's objection to the asset sale, the
report said.

Bionol Clearfield filed for Chapter 7 liquidation (Bankr. D. Del.
Case No. 11-12301) in July 2011.  The Company estimated assets
between $50 million and $100 million and liabilities between
$100 million and $500 million.  The Company owned a plant that
produces bio-based chemicals and fuels from renewable feedstock.


BIOVEST INTERNATIONAL: Posts $2.5MM Net Income in June 30 Qtr.
--------------------------------------------------------------
Biovest International, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $2.50 million on $1.19 million of total revenue for
the three months ended June 30, 2013, as compared with a net loss
of $1.77 million on $904,000 of total revenue for the same period
last year.

For the nine months ended June 30, 2013, the Company reported a
net loss of $3.16 million on $2.55 million of total revenue, as
compared with a net loss of $9.16 million on $3.18 million of
total revenue for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $5.92 million
in total assets, $49.11 million in total liabilities and a $43.18
million total stockholders' deficit.

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

                        http://is.gd/32Fql0

                    About Biovest International

Biovest International, Inc. -- http://www.biovest.com/-- is an
emerging leader in the field of active personalized
immunotherapies.  In collaboration with the National Cancer
Institute, Biovest has developed a patient-specific, cancer
vaccine, BiovaxID(R), with three clinical trials completed,
including a Phase III study, demonstrating evidence of safety and
efficacy for the treatment of indolent follicular non-Hodgkin's
lymphoma.

Headquartered in Tampa, Florida, with its bio-manufacturing
facility based in Minneapolis, Minnesota, Biovest is publicly-
traded on the OTCQB(TM) Market with the stock-ticker symbol
"BVTI", and is a majority-owned subsidiary of Accentia
Biopharmaceuticals, Inc. (OTCQB: "ABPI").

Biovest, along with its subsidiaries, Biovax, Inc., AutovaxID,
Inc., Biolender, LLC, and Biolender II, LLC, filed for Chapter 11
bankruptcy protection (Bankr. M.D. Fla. Case No. 08-17796) on
Nov. 10, 2008.  Biovest emerged from Chapter 11 protection, and
its reorganization plan became effective, on Nov. 17, 2010.

Biovest International Inc., filed a petition for Chapter 11
reorganization (Bankr. M.D. Fla. Case No. 13-02892) on March 6,
2013, in Tampa, Florida.  The new bankruptcy case was accompanied
by a proposed reorganization plan supported by secured lenders
owed about $38.5 million.  Total debt is $44.9 million, with
assets listed in a court filing as being valued at $4.7 million.
About $5.4 million is owing to unsecured creditors, according to a
court paper.

Biovest has successfully emerged from Chapter 11 reorganization
effective on July 9, 2013.


BONDS.COM GROUP: Incurs $1.2 Million Net Loss in Second Quarter
---------------------------------------------------------------
Bonds.com Group, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
applicable to common stockholders of $1.18 million on $2.34
million of revenue for the three months ended June 30, 2013, as
compared with a net loss applicable to common stockholders of
$3.29 million on $1.88 million of revenue for the same period last
year.

For the six months ended June 30, 2013, the Company reported net
income applicable to common stockholders of $639,776 on $4.37
million of revenue, as compared with a net loss applicable to
common stockholders of $4.83 million on $3.95 million of revenue
for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $7.62 million
in total assets, $4.31 million in total liabilities and $3.30
million in total stockholders' equity.

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

                         http://is.gd/Babx4l

                        About Bonds.com Group

Based in Boca Raton, Florida, Bonds.com Group, Inc. (OTC BB: BDCG)
-- http://www.bonds.com/-- through its subsidiary Bonds.com,
Inc., serves institutional fixed income investors by providing a
comprehensive zero subscription fee online trading platform.  The
Company designed the BondStation and BondStationPro platforms to
provide liquidity and competitive pricing to the fragmented Over-
The-Counter Fixed Income marketplace.

The Company differentiates itself by offering through Bonds.com,
Inc., an inventory of more than 35,000 fixed income securities
from more than 175 competing sources.  Asset classes currently
offered on BondStation and BondStationPro, the Company's fixed
income trading platforms, include municipal bonds, corporate
bonds, agency bonds, certificates of deposit, emerging market
debt, structured products and U.S. Treasuries.

Bonds.com Group disclosed a net loss of $6.98 million in 2012, as
compared with a net loss of $14.45 million in 2011.

EisnerAmper LLP, in New york, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012, citing recurring losses and negative
cash flows from operations, and a working capital deficiency and a
stockholders' deficiency that raise substantial doubt about its
ability to continue as a going concern.


BOOZ ALLEN: $1BB Loan Repricing No Impact on Moody's Ba3 CFR
------------------------------------------------------------
Moody's Investors Service said that Booz Allen Hamilton Holding
Corporation's (parent of Booz Allen Hamilton Inc.) announcement
that it has re-priced its existing $1.017 billion term B bank loan
is modestly credit positive. The transaction reduces the interest
margin on the company's Term B debt by 50 basis points to LIBOR
plus 3.00% and lowers the LIBOR floor by 25 basis points to 0.75%
from 1.00% with no change to maturity. Booz Allen's Ba3 Corporate
Family Rating, Ba3 secured bank debt ratings and stable outlook
are unaffected.

Booz Allen Hamilton is a provider of management and technology
consulting services to the U.S. government in the defense,
intelligence and civil markets. Booz Allen is headquartered in
McLean, Virginia, and reported revenues of approximately $5.8
billion for the last twelve months ended June 30, 2013.


BRASA (HOLDINGS): $25MM Term Loan Increase No Impact on B2 CFR
--------------------------------------------------------------
Brasa (Holdings) Inc.'s (d.b.a "Fogo de Chao") ratings are
unaffected by the proposed first lien term loan increase to $207
million from $182 million. Proceeds from the proposed increase are
to be used to repay a portion of its second lien term loan, to $45
million from $70 million.

Brasa's ratings and likely LGD point estimate changes are as
follows:

- Corporate family rating at B2

- Probability of default rating at B2-PD

- $25 million guaranteed first lien revolver due 2017 to B1 (LGD
   3, 40%) from B1 (LGD 3, 35%);

- $207 million guaranteed first lien term loan due 2019 to B1
   (LGD 3, 40%) from B1 (LGD 3, 35%);

- $45 million guaranteed second lien term loan due 2019 to Caa1
   (LGD 5, 89%) from Caa1 (LGD 5, 86%)

Brasa (Holdings) Inc., based in Dallas, TX, operates a Brazilian
steakhouse restaurant chain under the name Fogo de Chao
Churrascaria, with 19 restaurants in the U.S. and 7 restaurants in
Brazil. Revenues approached $210 million for the twelve months
ended March 31, 2013, with a substantial majority derived in the
U.S.


BROADCAST INTERNATIONAL: Incurs $457,000 Net Loss in 2nd Quarter
----------------------------------------------------------------
Broadcast International, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $457,209 on $974,657 of net sales for the three
months ended June 30, 2013, as compared with net profit of
$847,192 on $1.99 million of net sales for the same period during
the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $2.34 million on $2.45 million of net sales, as compared
with net profit of 661,715 on $3.74 million of net sales for the
same period a year ago.

The Company reported net income of $1.30 million in 2011, compared
with a net loss of $18.66 million in 2010.

The Company's balance sheet at June 30, 2013, showed $1.23 million
in total assets, $7.96 million in total liabilities and a $6.73
million total stockholders' deficit.

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

                        http://is.gd/xH9IoW

                   About Broadcast International

Based in Salt Lake City, Broadcast International, Inc., installs,
manages and supports private communication networks for large
organizations that have widely-dispersed locations or operations.
The Company owns CodecSys, a video compression technology to
convert video content into a digital data stream for transmission
over satellite, cable, Internet, or wireless networks, as well as
offers audio and video production services.  The Company's
enterprise clients use its networks to deliver training programs,
product announcements, entertainment, and other communications to
their employees and customers.


BRONX AL: Case Summary & 2 Unsecured Creditors
----------------------------------------------
Debtor: Bronx AL, LLC
        1481 47th Street
        Brooklyn, NY 11219

Bankruptcy Case No.: 13-17583

Chapter 11 Petition Date: August 20, 2013

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

Judge: Marc Barreca

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

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 two unsecured creditors filed
with the petition is available for free at:
http://bankrupt.com/misc/wawb13-17583.pdf

The petition was signed by Joseph Tyrnauer, managing member of
Lockaway 2, LLC.

Affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Bronx RMT LLC                         13-11426            04/30/13


CANAL CREATIVE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: The Canal Creative Investment Concepts Unlimited Trust
        P.O. Box 1482
        Pocasset, MA 02559

Bankruptcy Case No.: 13-14923

Chapter 11 Petition Date: August 19, 2013

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

Judge: Henry J. Boroff

Debtor's Counsel: David B. Madoff, Esq.
                  MADOFF & KHOURY LLP
                  124 Washington Street - Suite 202
                  Foxboro, MA 02035
                  Tel: (508) 543-0040
                  Fax: (508) 543-0020
                  E-mail: madoff@mandkllp.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 L. Mark DeCicco, trustee.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Luigi and Elizabeth DeCicco                       08/19/13


CASA DE CAPRI: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Casa de Capri Enterprises, LLC
        1501 E. Orangewood Avenue
        Phoenix, AZ 85020

Bankruptcy Case No.: 13-14269

Chapter 11 Petition Date: August 19, 2013

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Eddward P. Ballinger Jr.

Debtor's Counsel: Michael W. Carmel, Esq.
                  MICHAEL W. CARMEL, LTD.
                  80 E. Columbus Ave.
                  Phoenix, AZ 85012-4965
                  Tel: (602) 264-4965
                  Fax: (602) 277-0144
                  E-mail: michael@mcarmellaw.com

Scheduled Assets: $3,242,232

Scheduled Liabilities: $6,368,183

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/azb13-14269.pdf

The petition was signed by Greg Anderson, managing member.


CHARTER SCHOOL: S&P Lowers Rating on 2012A & 2012B Bonds to 'B'
---------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
rating five notches to 'B' from 'BBB-' on Boynton Beach, Fla.'s
series 2012A tax-exempt and 2012B taxable revenue bonds, issued
for and supported by the Charter School of Boynton Beach.  The
outlook is negative.

"The downgrade and negative outlook reflect the school's deficit
operating performance in fiscal 2012," said Standard & Poor's
credit analyst Carolyn McLean.  Furthermore, a projected deficit
performance for fiscal 2013 means coverage of maximum annual debt
service (MADS), including lease payments, will be below 1x.  The
school has limited financial flexibility given its relatively weak
cash position.

The downgrade takes into account the school's inability to meet
enrollment targets for the 2013-2014 school year, which resulted
in the cancelation of classes for grades 10-12.  Management also
expects to incur a debt of $7 million to $8 million in the next
few years to purchase a leased building.  S&P believes the
additional debt would further pressure the rating.  Another
negative factor is the school's below-average academic performance
of 'D' as rated by the state.  In S&P's view, declining
enrollment, combined with lower revenue expected for fiscal 2014
and a low cash position, could cause credit quality to deteriorate
to a point where the school would be more in line with a lower
rating.  Although the school expects to be compliant with bond
covenants based on fiscal 2013 audited results, S&P believes that
measurements will be close to or potentially below covenant
thresholds, which is another indicator of a noninvestment-grade
credit.

Located in Boynton Beach, the school began operations in the 2002-
2003 school year with 90 students in kindergarten through third
grade.  In the 2012-2013 year, the school had 835 students in
grades K-11.


CHILE MINING: Delays June 30 Quarter Form 10-Q for Audit
--------------------------------------------------------
Chile Mining Technologies Inc. was unable to file its Form 10-Q
within the prescribed time period without unreasonable effort or
expense due to the fact that the audit of the Company's financial
statements for the quarter ended June 30, 2013, has not been
completed.  The Company anticipates that it will file its Form
10-Q within the five-day grace period provided by Exchange Act
Rule 12b-25.

                         About Chile Mining

Chile Mining Technologies Inc. is a mineral extraction company
based in the Republic of Chile, with copper as its principal "pay
metal."  Its founders, Messrs. Jorge Osvaldo Orellana Orellana and
Jorge Fernando Pizarro Arriagada, have refined the electrowin
process in a way that permits the electrowin process to be used at
a relatively small mine and/or tailings sites.  Electrowinning is
a process in which positive and negative electrodes are placed in
an acidic solution containing copper ions, and an electric current
passed through the solution causes the copper to be deposited on
the negative electrodes so that it can be collected.

Chile Mining incurred a net loss of $4.38 million on $261,089 of
sales for the year ended March 31, 2013, as compared with a net
loss of $3.94 million on $433,554 of sales during the prior fiscal
year.

As of March 31, 2013, the Company had $7.71 million in total
assets, $11.82 million in total liabilities and a $4.10 million
stockholders' deficiency.

Schwartz Levitsky Feldman LLP, in Toronto, Ontario, Canada, issued
a "going concern" qualification on the consolidated financial
statements for the year ended March 31, 2013.  The independent
auditors noted that the continuance of the Company is dependent
upon its ability to obtain financing and upon future profitable
operations from the production of copper.  This raises substantial
doubt about it ability to continue as a going concern.


CHINA SHIANYUN: Incurs $185,000 Net Loss in Second Quarter
----------------------------------------------------------
China Shianyun Group Corp., Ltd., formerly known as China Green
Creative, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $185,337 on $112,983 of revenues for the three months ended
June 30, 2013, as compared with net income of $497,547 on $1.70
million of revenues for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $362,612 on $360,951 of revenues, as compared with net
income of $546,944 on $2.39 million of revenues for the same
period last year.

The Company's balance sheet at June 30, 2013, showed $6.60 million
in total assets, $7.44 million in total liabilities and a $838,903
total stockholders' deficit.

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

                        http://is.gd/ysPOOq

                        About China Shianyun

China Shianyun Group Corp., Ltd., a Nevada Corporation, was
incorporated on Aug. 17, 2006, under the name of Glance, Inc.  On
Jan. 21, 2009, the Company changed its name to China Green
Creative, Inc.  CGC and its subsidiaries are principally engaged
in the distribution of consumer goods in the People's Republic of
China.

As reported in the TCR on July 31, 2013, China Green was merged
with China Shianyun effective as of July 26, 2013.

China Green disclosed net income of $635,873 on $6.87 million of
revenues for the year ended Dec. 31, 2012, as compared with a net
loss of $344,901 on $1.92 million of revenue during the prior
year.

Madsen & Associates CPA's, Inc., in Salt Lake City, Utah, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company does not have the necessary
working capital to service its debt and for its planned activity,
which raises substantial doubt about its ability to continue as a
going concern.


CICERO INC: Reports $896,000 Net Loss in Second Quarter
-------------------------------------------------------
Cicero Inc. filed with the U.S. Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss applicable
to common stockholders of $896,000 on $595,000 of total operating
revenue for the three months ended June 30, 2013, as compared with
a net loss applicable to common stockholders of $848,000 on $1.04
million of total operating revenue for the same period during the
prior year.

For the six months ended June 30, 2013, the Company a net loss
applicable to common stockholders of $1.94 million on $1.09
million of total operating revenue, as compared with net income
applicable to common stockholders of $1.27 million on $4.71
million of total operating revenue for the same period during the
prior year.

The Company's balance sheet at June 30, 2013, showed $3.18 million
in total assets, $10.44 million in total liabilities and a $7.25
million total stockholders' deficit.

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

                        http://is.gd/aYbEeK

                          About Cicero Inc.

Cary, N.C.-based Cicero, Inc., provides business integration
software solutions and also provides technical support, training
and consulting services as part of its commitment to providing
customers with industry-leading solutions.

The Company focuses on the customer experience management market
with emphasis on desktop integration and business process
automation with its Cicero XM(TM) products.  Cicero XM enables the
flow of data between different applications, regardless of the
type and source of the application, eliminating redundant entry
and costly mistakes.

The Company has extended the maturity dates of several debt
obligations that were due in 2011 to 2012, to assist with
liquidity and may attempt to extend these maturities again if
necessary.  Despite the recent additions of several new clients,
the Company continues to struggle to gain additional sources of
liquidity on terms that are acceptable to the Company.

Cicero disclosed a net loss applicable to common stockholders of
$315,000 on $5.99 million of total operating revenue for the year
ended Dec. 31, 2012, as compared with a net loss applicable to
common stockholders of $3.09 million on $3.25 million of total
operating revenue during the prior year.

Cherry Bekaert LLP, in Raleigh, North Carolina, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has suffered recurring losses from operations and
has a working capital deficiency as of Dec. 31, 2012.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


COSTA BONITA: Seeks to Extend Plan Filing Deadline to Oct. 25
-------------------------------------------------------------
Costa Bonita Beach Resort, Inc. filed a motion with the U.S.
Bankruptcy Court seeking an extension until Oct. 25, 2012, of the
deadline to file its Chapter 11 plan and disclosure statement.

Costa Bonita Beach Resort, Inc., owns 50 apartments at the Costa
Bonita Beach Resort in Culebra, Puerto Rico.  It filed a
bankruptcy petition under Chapter 11 of the Bankruptcy Code for
the first time (Bankr. D.P.R. Case No. 09-00699) on Feb. 3, 2009.
During this case, the Court entered an Opinion and Order finding
that the Debtor satisfied all three (3) prongs of the Single Asset
Real Estate, and, as such is a SARE case subject to 11 U.S.C. Sec.
362(d)(3). The Court also entered an Order modifying the automatic
stay to allow creditor DEV, S.E., to continue in state court
proceedings for the removal of the illegal easement and the
restoration of DEV, S.E.'s land to its original condition by the
Debtor.  The first bankruptcy petition was dismissed on May 10,
2011 on the grounds that the Debtor failed to comply with an April
21, 2011 Order and the Debtor's failure to maintain adequate
insurance.  The case was subsequently closed on Oct. 11, 2011.

Costa Bonita Beach Resort filed a second bankruptcy petition
(Bankr. D.P.R. Case No. 12-00778) on Feb. 2, 2012, in Old San
Juan, Puerto Rico.  In the 2012 petition, the Debtor said assets
are worth $15.1 million with debt totaling $14.2 million,
including secured debt of $7.8 million.  The apartments are valued
at $9.6 million while a restaurant and some commercial spaces at
the resort are valued at $3.67 million.  The apartments serve as
collateral for the $7.8 million while the commercial property is
unencumbered.

Bankruptcy Judge Enrique S. Lamoutte presides over the 2012 case.
Charles Alfred Cuprill, Esq., serves as counsel in the 2012 case.
The petition was signed by Carlos Escribano Miro, president.


COVENTRY MALL: Area Mall Goes Into Receivership
-----------------------------------------------
John Strickler at Mainline Media News reports that a notice posted
to the doors of the Coventry Mall Monday announced a pending
receiver's sale of the mall property.

The report relates that according to the notice, U.S. Bank
National Association sought and received approval of the sale in
U.S. District Court for the Eastern District of Pennsylvania.  The
property will be sold to the highest bidder at auction on
Sept. 19.

The notice states the plaintiff, U.S. Bank, was owed $62.4 million
plus "continuing interests and costs" as of June 26, the report
notes.

Anyone holding a lien on the property will be deprived of their
rights once a sale goes through and must "take appropriate steps
to protect their rights" according to the notice, the report
discloses.

The report notes that anyone bidding on the property at auction
will be required to present 20 percent of the amount bid as a
nonrefundable deposit in the form of cash, check or cashier's
check at the time of the sale, with the balance to be paid in 30
days from the date of sale, according to the notice.

As of Aug. 20, the stores located inside the mall were operating
as normal and the mall was open normal business hours, the report
adds.


CPG INT'L: No Immediate Impact on Moody's Rating over Ares Deal
---------------------------------------------------------------
Moody's says the recent announcement by Ares Management and
Ontario Teachers' Pension Plan that they have agreed to purchase
CPG International Inc., from AEA Investors is potentially credit
negative, but does not immediately impact the company's B2
Corporate Family Rating or stable rating outlook because the
structure of the transaction, including terms and conditions of
any related financing, has not been announced. Moody's view is
based on terms disclosed by Ares Management and Ontario Teachers'
Pension Plan in their public announcement.

CPG International Inc., headquartered in Scranton, Pennsylvania,
is a leading manufacturer of premium, low maintenance building
products for residential (AZEK and TimberTech), Commercial
(Scranton Products) and industrial markets (Vycom). CPG has
developed and/or acquired a number of branded products including
AZEK Trim, AZEK Deck, AZEK Rail, TimberTech decking and railings,
Comtec and Hiny Hiders (bathroom partition systems), Resistall, as
well as TuffTec and Duralife lockers. Revenues for the twelve
month period ended June 30th, 2013 were approximately $491
million.


CRAVEN PROPERTIES: US Trustee Seeks Dismissal or Ch.7 Conversion
----------------------------------------------------------------
Guy G. Gebhardt, the United States Trustee for Region 21, filed a
motion with the U.S. Bankruptcy Court, seeking to dismiss the
chapter 11 case of Craven Properties, L.P. or convert it to
chapter 7.

According to the U.S. Trustee, although the case has been pending
for almost a year, the Debtor has not proposed a plan of
reorganization, and it is apparent from its monthly operating
reports filed in the case that it does not have the ability to
fund a confirmable plan of reorganization.  Failure or inability
to propose a plan within a reasonable period of time constitutes
cause for dismissal or conversion of a chapter 11 case under
11 U.S.C. Sec. 1112(b).

Hearing on the motion is set for Sept. 9, 2013, at 1:30 p.m. in
Courtroom 103, Gainesville.

Trial attorney James H. Morawetz, on behalf of the U.S. Trustee,
can be reached at:

         James H. Morawetz, Esq.
         Office of the United States Trustee
         362 Richard Russell Building
         75 Spring Street, SW
         Atlanta, GA 30303
         Tel: (404) 331-4437
         E-mail: jim.h.morawetz@usdoj.gov

Craven Properties, L.P., a single asset real estate, filed a
Chapter 11 petition (Bankr. N.D. Ga. Case No. 12-23082) in its
hometown in Gainesville, Georgia, on Aug. 31, 2012.  Judge Robert
Brizendine presides over the case.  John J. McManus, Esq., at John
J. McManus & Associates, P.C., serves as counsel.  Billy J. Craven
signed the petition.

In its amended schedules, the Debtor disclosed $28,446,281 in
assets and $3,872,671 in liabilities as of the Petition Date.


CRAVEN PROPERTIES: Files Amended Schedules of Assets and Debts
--------------------------------------------------------------
Craven Properties, L.P. filed with the Bankruptcy Court for the
Northern District of Georgia its amended schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $20,000,000
  B. Personal Property                $28,429
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $3,846,146
  E. Creditors Holding
     Unsecured Priority
     Claims                                            $2,821
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                           $23,704
                                 -----------      -----------
        TOTAL                    $20,028,429       $3,872,671

Craven Properties, L.P., a single asset real estate, filed a
Chapter 11 petition (Bankr. N.D. Ga. Case No. 12-23082) in its
hometown in Gainesville, Georgia, on Aug. 31, 2012.  Judge Robert
Brizendine presides over the case.  John J. McManus, Esq., at John
J. McManus & Associates, P.C., serves as counsel.  Billy J. Craven
signed the petition.

In its amended schedules, the Debtor disclosed $28,446,281 in
assets and $3,872,671 in liabilities as of the Petition Date.



CRYSTAL COAST: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Crystal Coast Mattress Rx Incorporated
        P.O. Box 3359
        New Bern, NC 28564

Bankruptcy Case No.: 13-05243

Chapter 11 Petition Date: August 20, 2013

Court: U.S. Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: Randy D. Doub

Debtor's Counsel: Trawick H. Stubbs, Jr., Esq.
                  STUBBS & PERDUE, P.A.
                  P.O. Drawer 1654
                  New Bern, NC 28563
                  Tel: (252) 633-2700
                  Fax: (252) 633-9600
                  E-mail: efile@stubbsperdue.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 16 largest unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/nceb13-05243.pdf

The petition was signed by Christopher R. Shankle, president.


CUI GLOBAL: Posts $294,700 Consolidated Net Income in 2nd Qtr.
--------------------------------------------------------------
CUI Global, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing
consolidated net income of $294,778 on $18.15 million of total
revenue for the three months ended June 30, 2013, as compared with
a consolidated net loss of $714,885 on $10.01 million of total
revenue for the same period last year.

For the six months ended June 30, 2013, the Company reported a
consolidated net loss of $167,314 on $28.21 million of total
revenue, as compared with a consolidated net loss of $1.78 million
on $18.48 million of total revenue for the same period during the
prior year.

The Company's balance sheet at June 30, 2013, showed $89.90
million in total assets, $19.95 million in total liabilities and
$69.95 million in total stockholders' equity.

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

                         http://is.gd/vmOwb3

                          About CUI Global

Tualatin, Ore.-based CUI Global, Inc., formerly known as Waytronx,
Inc., is a platform company dedicated to maximizing shareholder
value through the acquisition, development and commercialization
of new, innovative technologies.

CUI Global reported a net loss allocable to common stockholders of
$48,763 in 2011, compared with a net loss allocable to common
stockholders of $7.01 million in 2010.

As reported by the TCR on April 8, 2011, Webb & Company, in
Boynton Beach, Florida, expressed substantial doubt about CUI
Global's ability to continue as a going concern.  The independent
auditors noted that the Company has a net loss of $7,015,896, a
working capital deficiency of $675,936 and an accumulated deficit
of $73,596,738 at Dec. 31, 2010.  Webb & Company did not include a
"going cocern qualification" in its report on the Company's 2011
financial results.


DEE ALLEN: Disclosures Hearing for Trustee Plan on Sept. 9
----------------------------------------------------------
The hearing to consider the motion of the Chapter 11 Trustee in
the Chapter 11 cases of Dee Allen Randall, et al., to approve the
adequacy of the disclosure statement for the proposed Chapter 11
Trustee's Liquidating Plan of Reorganization dated April 3, 2013,
is scheduled for Sept. 9, 2013, at 2:00 p.m.  The deadline for the
filing objections is Aug. 9, 2013.

According to the Disclosure Statement, the Plan provides a
mechanism for pursuing the claims of victims and the consolidated
estate against those who facilitated the Randall Enterprise
scheme.

Holders of allowed victims claims (Class 17), estimated by the
Trustee at $39,274,000, will be paid from the "Victim Funds".
Estimated Distribution Percentage is between 0% and 5%.  Any and
all Equity Interests will be cancelled on the Effective Date.

A copy of the Disclosure Statement is available at:

           http://bankrupt.com/misc/deeallen.doc1174.pdf

As reported in the TCR on May 1, 2013, Gil A. Miller, the duly-
appointed Chapter 11 Trustee for the Debtors filed with the U.S.
Bankruptcy Court for the District of Utah a proposed Chapter 11
Trustee's Liquidating Plan of Reorganization under Section 1121 of
the Bankruptcy Code.  Pursuant to the proposed Trustee Plan, all
holders of allowed claims are to be paid from the assets of the
consolidated estate as provided for in the Plan.

A copy of the proposed Chapter 11 Trustee Liquidating Plan is
available at http://bankrupt.com/misc/deeallen.doc1070.pdf

                      About Dee Allen Randall

Dee Allen Randall in Kaysville, Utah, filed for Chapter 11
bankruptcy (Bankr. D. Utah Case No. 10-37546) on Dec. 20, 2010, to
forestall creditors while he reorganized his finances.  His
companies include Horizon Mortgage & Investment, Horizon Financial
& Insurance Group and Horizon Auto Funding.  Judge Joel T. Marker
presides over the bankruptcy case.  In his petition, Mr. Randall
estimated $10 million to $50 million in assets and $1 million to
$10 million in debts.

Mr. Randall claims he was conducting a "legal Ponzi scheme," but
authorities are investigating him for possible violations of the
law in an operation that took in $65 million from 700 or so
investors.

Gil A. Miller was appointed as Chapter 11 trustee for Mr.
Randall's bankruptcy estate.

On Oct. 12, 2011, Mr. Miller placed Mr. Randall's corporate
entities -- Horizon Auto Funding, LLC, Independent Commercial
Lending LLC, Horizon Financial Center I LLC, Horizon Mortgage and
Investment Inc. and Horizon Financial & Insurance Group Inc. -- in
bankruptcy by filing separate Chapter 11 petitions (Bankr. D. Utah
Case Nos. 11-34826, 11-34830, 11-34831, 11-34833 and 11-34834).

Judge Joel T. Marker presides over the 2010 and 2011 cases.
Michael R. Johnson, Esq., Brent D. Wride, Esq., and David H.
Leigh, Esq., at Ray Quinney & Nebeker P.C., serve as counsel to
the Chapter 11 Trustee.  The cases are substantively consolidated
under Case No. 10-37546.  Reid Collins & Tsai LLP represents the
Chapter 11 Trustee as special litigation counsel.  Fabian &
Clendenin represents the Chapter 11 Trustee as special counsel.


DESARROLLADORA HOMEX: Bondholders Hire Restructuring Advisers
-------------------------------------------------------------
Emily Glazer and Amy Guthrie, writing for Daily Bankruptcy Review,
reported that a group of bondholders in struggling Mexican
homebuilder Desarrolladora Homex SAB has hired restructuring
advisers, people familiar with the matter said.

Homex is a vertically integrated homebuilder focused on the
affordable and middle-income housing segments. Headquartered in
Culiacan, Sinaloa, Homex is one of the largest homebuilders in
Mexico, with operations in 25 cities in 17 states across the
country.  During 2004, Homex sold 21,053 houses and reported
revenues of US$476 million.


DESIGNLINE CORPORATION: Section 341(a) Meeting Set on Sept. 24
--------------------------------------------------------------
A meeting of creditors in the bankruptcy case of DesignLine
Corporation will be held on Sept. 24, 2013, at 1:00 pm.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

DesignLine Corporation and DesignLine USA LLC sought Chapter 11
protection (Bankr. D. Del. Lead Case Nos. 13-12089 and 13-12090)
on Aug. 15, 2013.  Katie Goodman signed the petitions as chief
restructuring officer.  Mark D. Collins, Esq., and Michael Joseph
Merchant, Esq., at Richards, Layton & Finger, P.A., serve as the
Debtors' counsel.  Nelson Mullins Riley & Scarborough, LLP, is the
Debtors' general bankruptcy counsel.  The Debtors' financial
advisor is GGG Partners LLC.  The Debtors estimated assets and
debts of at least $10 million.

DesignLine USA is a designer and manufacturer of electric,
electric range extended, diesel and alternative fuel transit
buses.  It serves the private transportation industry and public
transportation authorities in the U.S., Canada, Middle East and
Asia.  DesignLine Corp. is the parent of DesignLine USA.


DEMCO INC: Plan Filing Period Extended Until January 31
-------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of New York
estended Demco, Inc.'s exclusive periods to file and obtain
acceptances of a plan until Jan. 31, 2014, and April 1,
2014, respectively.

As reported in the TCR on July 23, 2013, the Debtor intends to
file a Chapter 11 Plan as soon as it is reasonably practicable.
However, because it has only just recently returned to demolition
work, it will need to bid and to perform such work for a period of
time post-petition, so as to be able to demonstrate the
feasibility of any plan by which it proposes to emerge from
Chapter 11.  For that reason, the Debtor is seeking to extend the
time within which it might exclusively file a Chapter 11 Plan of
Reorganization.

                         About Demco Inc.

Demco, Inc., aka Decommissioning & Environmental Management
Company, is a specialty trade contractor based in West Seneca, New
York, which provides demolition services, nuclear work,
environmental clean-up, disaster response and a variety of other
services throughout the United States and, on a project-by-project
basis, internationally.  Some of Demco's better known demolition
projects in the past have included the Rocky Flats Nuclear Power
Plant, Yankee Stadium, the Orange Bowl, Buffalo Memorial
Auditorium, and the Sunflower Army Ammunition Plant.

Demco filed for Chapter 11 protection (Bankr. W.D.N.Y. Case No.
12-12465) on Aug. 6, 2012.  Bankruptcy Judge Michael J. Kaplan
presides over the case.  Daniel F. Brown, Esq., at Andreozzi,
Bluestein, Fickess, Muhlbauer Weber, Brown, LLP, represents the
Debtor in its restructuring effort.  The Debtor estimated assets
and debts at $10 million to $50 million.  The petition was signed
by Michael J. Morin, controller.

Tracy Hope Davis, the U.S. Trustee for Region 2, appointed three
creditors to serve on the Official Committee of Unsecured
Creditors.

First Niagara Bank, the cash collateral lender, is represented by
William F. Savino, Esq., at Damon Morey.


DETROIT, MI: Bankruptcy Mediators Include Judges, Local Leader
--------------------------------------------------------------
Law360 reported that a team of current and former judges and a
Detroit civic leader will mediate the major issues in Detroit's
historic bankruptcy proceedings, the lead mediator announced.

According to the report, three of the five mediators selected by
Chief Judge Gerald Rosen, the head of the team, have lived in
Detroit and four of them are current or former judges.

"We are very fortunate indeed that some of the leading federal
judges and private mediators from Michigan and around the nation
have agreed to assist Judge [Steven] Rhodes," Judge Rosen said,
the report related.

                     About Detroit, Michigan

The city of Detroit, Michigan, weighed down by more than
$18 billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter 9
petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit listed
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by
lawyers at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The city's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

Detroit is represented by David G. Heiman, Esq., and Heather
Lennox, Esq., at Jones Day, in Cleveland, Ohio; Bruce Bennett,
Esq., at Jones Day, in Los Angeles, California; and Jonathan S.
Green, Esq., and Stephen S. LaPlante, Esq., at Miller Canfield
Paddock and Stone PLC, in Detroit, Michigan.

Sharon Levine, Esq., at Lowenstein Sandler LLP, is representing
the American Federation of State, County and Municipal Employees
and the International Union.

Babette Ceccotti, Esq., at Cohen, Weiss & Simon LLP, is
representing the United Automobile, Aerospace and Agricultural
Implement Workers of America.


DIALOGIC INC: Reports $5.6 Million Net Loss in Second Quarter
-------------------------------------------------------------
Dialogic Inc. reported a net loss of $5.68 million on $31.07
million of total revenue for the three months ended June 30, 2013,
as compared with a net loss of $19.03 million on $36.91 million of
total revenue for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $16.04 million on $64.87 million of total revenue, as
compared with a net loss of $33.19 million on $78.99 million of
toal revenue for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $107.50
million in total assets, $137.71 million in total liabilities and
a $30.20 million total stockholders' deficit.

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

                        http://is.gd/CpfFFC

                          About Dialogic

Milpitas, Cal.-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.

                        Bankruptcy Warning

"If future covenant or other defaults occur under the Term Loan
Agreement or under the Revolving Credit Agreement (the "Revolving
Credit Agreement") with Wells Fargo Foothill Canada ULC (the
"Revolving Credit Lender"), the Company does not anticipate having
sufficient cash and cash equivalents to repay the debt under these
agreements should it be accelerated and would be forced to
restructure these agreements and/or seek alternative sources of
financing.  There can be no assurances that restructuring of the
debt or alternative financing will be available on acceptable
terms or at all.  In the event of an acceleration of the Company's
obligations under the Revolving Credit Agreement or Term Loan
Agreement and the Company's failure to pay the amounts that would
then become due, the Revolving Credit Lender and Term Loan Lenders
could seek to foreclose on the Company's assets, as a result of
which the Company would likely need to seek protection under the
provisions of the U.S. Bankruptcy Code and/or its affiliates might
be required to seek protection under the provisions of applicable
bankruptcy codes," according to the Company's annual report for
the period ended Dec. 31, 2012.


DOLE FOOD: Moody's Mulls Downgrade Following Privatization Talks
----------------------------------------------------------------
Moody's Investors Service placed the ratings for Dole Food
Company, Inc. under review for downgrade, including its B1
Corporate Family Rating. This follows the company's recent
announcement that its board of directors has approved Chairman and
CEO David Murdock's upsized bid to take the company private. The
offer, which values the company at approximately $1.6 billion
(including debt), is still subject to a shareholder vote. The
review will focus upon the pro forma capital structure,
management's financial policies going forward, and the company's
strategic objectives as a private company.

The following ratings are under review for downgrade:

Dole Food Company, Inc.:

Corporate Family Rating of B1

Probability of Default Rating B1-PD

$180 million 5-year senior secured revolving credit facility at
Ba3 (LGD 3, 32%)

$675 million 7-year term loan B at Ba3 (LGD 3, 32%)

The following rating is affirmed:

Speculative Grade Liquidity Rating is SGL-2.

Ratings Rationale:

Dole's existing B1 CFR reflects the earnings and cash flow
volatility inherent in its commodity-oriented business, its
relatively high leverage, as well as the impact of uncontrollable
factors such as weather and regulations on key products. Dole
benefits from sizeable scale, with over $4.2 billion in proforma
2012 revenues, leading market positions in a number of categories,
and good geographic diversity. Dole's geographic diversity is
reflected from the fact that 61% of its revenues are from North
America and 32% from Europe on a pro forma 2012 basis. The
company's April 2013 sale of its worldwide packaged foods and Asia
fresh produce businesses left the remaining company largely
concentrated in fresh fruits and vegetables.

Headquartered in Westlake Village, California, Dole Food Company,
Inc. is a leading producer of fresh fruit and fresh vegetables.
2012 sales, proforma for the sale of its worldwide packaged foods
and Asia fresh produce businesses were approximately $4.2 billion.
Dole's chairman, David Murdock, and his affiliates beneficially
own approximately 40% of the company's common stock.

The principal methodology used in this rating was the Global
Protein and Agriculture Industry published in May 2013. Other
methodologies used include Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA
published in June 2009.


DUMA ENERGY: To Acquire Hydrocarb Corporation
---------------------------------------------
Duma Energy Corp. has signed a Letter of Intent to acquire 100
percent of the outstanding stock of Houston-based Hydrocarb
Corporation.  In August 2012, Duma purchased a 39 percent working
interest in Hydrocarb's highly prospective 5.3 million-acre Owambo
Basin concession in northern Namibia.  After merger the combined
company will control 100 percent of the working interest thru
discovery.  As part of its work program, Hydrocarb is currently
acquiring a high-resolution aerial gravity magnetics survey over
the entire concession.

In addition to its large Namibia concession, Hydrocarb is
currently in final negotiations for lucrative production-sharing
contracts with several African nations in the prolific East
African Rift play, which has seen multi-billion barrel discoveries
in recent years.

The Hydrocarb management team has extensive international
exploration and production experience.  Hydrocarb's aggressive,
high potential strategy complements Duma's focus on domestic oil
and gas production.  Otaiba-Hydrocarb, a wholly-owned subsidiary
of Hydrocarb Energy with headquarters in Abu Dhabi, U.A.E., holds
a comprehensive oil and gas field services license issued by the
Supreme Petroleum Council of U.A.E. and offers a full range of oil
industry services to the lucrative Middle East sector.  With over
$100 billion annually in revenues from oil production, Abu Dhabi
is in the midst of a five-year, $40 billion effort to maintain and
increase its reserve base, seeking collaboration with industry
experts such as Hydrocarb's technical team.

Jeremy G. Driver, CEO of Duma stated, "Hydrocarb's wealth of
experience in oilfield development and high-potential
international exploration, combined with Duma's proven domestic
oil and gas assets creates a powerful alliance that will greatly
increase shareholder value."

                         About Duma Energy

Corpus Christi, Tex.-based Duma Energy Corp. --
http://www.duma.com/-- formerly Strategic American Oil
Corporation, is a growth stage oil and natural gas exploration and
production company with operations in Texas, Louisiana, and
Illinois.  The Company's team of geologists, engineers, and
executives leverage 3D seismic data and other proven exploration
and production technologies to locate and produce oil and natural
gas in new and underexplored areas.

Duma Energy incurred a net loss of $4.57 million for the year
ended July 31, 2012, compared with a net loss of $10.28 million
during the prior fiscal year.  For the nine months ended April 30,
2013, the Company incurred a net loss of $39.23 million on $5.10
million of revenues.   As of April 30, 2013, the Company had
$25.78 million in total assets, $15.47 million in total
liabilities and $10.30 million in total stockholders' equity.


EARL GAUDIO: Hires First Midwest Bank as Custodian
--------------------------------------------------
Earl Gaudio & Son Inc. asks the U.S. Bankruptcy Court for
permission to employ First Midwest Bank as custodian.

First Midwest Bank was appointed as custodian pursuant to a
Consent Order entered by the Circuit Court for the Fifth Judicial
Circuit of Illinois on June 27, 2012.  First Midwest Bank has
served as custodian since that time and has functioned as the
management of the Debtor, handing all aspects of the operation of
the Debtor.  It has also acted as a facilitator and driver for
efforts to sell the Debtor's assets in an expeditious, efficient,
and measured fashion and address the outstanding liabilities of
the Debtor.  As a result, First Midwest Bank has gained
considerable knowledge regarding the historical and current
operations of the Debtor, its financials and records, and its
various obligations to creditors and third parties.

The professionals within First Midwest Bank who may have some role
in fulfilling its duties as Custodian and their current standard
hourly rates are:

   * Angela Hart, Esq., an attorney with more than a decade of
     experience in business representation and administration -
     $250/hour;

   * Michele Morgan, CTFA, an officer with more than 20 years
     of fiduciary experience - $250/hour;

   * Rebecca Little, Esq., an attorney and accountant with
     approximately a decade of experience - $250/hour;

   * Barbara Danaher, an officer with approximately 20 years
     of experience in wealth management - $250/hour;

   * Kimberly Klonicki CPA, an accountant with more than a decade
     of experience in business accounting - $125/hour;

   * Tanya White, an accountant with approximately 15 years
     of experience in business accounting and tax return
     preparation - $125/hour;

   * Debbie Ritke, an assistant with significant real property
     experience as a realtor, lender and title industries -
     $125/hour; and

   * Kelly Griffin, an assistant with almost twenty years of
     wealth management experience - $125/hour.

First Midwest Bank maintains offices at, among other locations,
24509 W. Lockport Street, Plainfield, IL 60544.

Proposed Counsel to the Debtor can be reached at:

         Ben T. Caughey
         ICE MILLER LLP
         One American Square, Suite 2900
         Indianapolis, Indiana 46282-0200
         Tel: (317) 236-2100
         Fax: (317) 236-2219
         E-mail: ben.caughey@icemiller.com

Earl Gaudio & Son Inc. filed a Chapter 11 petition (Bankr. C.D.
Ill. Case No. 13-90942) on July 19, 2013.  The petition was signed
by Angela E. Major Hart, as authorized signer of First Midwest
Bank, custodian.  Judge Gerald D. Fines presides over the case.
The Debtor estimated assets of at least $10 million and debts of
at least $1 million.  John David Burke, Esq., at Ice Miller, LLP,
serves as the Debtor's counsel.


EASTMAN KODAK: Gets Approval of Deal Rejecting Insurance Policies
-----------------------------------------------------------------
U.S. Bankruptcy Judge Allan Gropper approved a deal between
Eastman Kodak Co. and a group of insurance firms under which the
company agreed not to assume any general or excess liability
insurance policies issued by the firms.

The insurance policies will be rejected and the insurance firms,
which include Century Indemnity Co. and INA, will have no further
obligations under those policies as of the effective date of
Kodak's Chapter 11 reorganization plan.  The agreement can be
accessed for free at http://is.gd/9IJV57

The insurance firms are represented by:

     Tancred Schiavoni, Esq.
     O'Melveny & Myers LLP
     7 Times Square
     New York, NY 10036
     Tel: (212) 326-2000
     Fax: (212) 326-2061
     E-mail: tschiavoni@omm.com

                        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.

The Retirees Committee has hired Haskell Slaughter Young &
Rediker, LLC, and Arent Fox, LLC as Co-Counsel; Zolfo Cooper,
LLC, as Bankruptcy Consultants and Financial Advisors; and the
Segal Company, as Actuarial Advisors.

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 completed the $527 million sale of digital-imaging
technology on Feb. 1, 2013.  Kodak intends to reorganize by
focusing on the commercial printing business.

At the end of April 2013, Kodak filed a proposed reorganization
plan offering 85 percent of the stock to holders of the remaining
$375 million in second-lien notes. The other 15 percent is for
unsecured creditors with $2.7 billion in claims and retirees who
have a $635 million claim from the loss of retirement benefits.


EASTMAN KODAK: Wins Court Approval to Assume Carestream Contracts
-----------------------------------------------------------------
Eastman Kodak Co. obtained court approval of its agreement with
Carestream Health Inc. to take over 15 contracts as part of its
plan to get out of bankruptcy protection.

Carestream agreed under the deal not to object to Kodak's
rejection of their tolling agreement dated May 1, 2007.
Carestream can file a claim to recover damages from the rejection
of the tolling agreement.  A copy of the stipulation is available
for free at http://is.gd/Ovl7Uw

Carestream Health Inc. is represented by:

     William H. Schrag, Esq.
     Alan R. Lepene, Esq.
     THOMPSON HINE LLP
     335 Madison Avenue
     New York, New York 10017
     Tel: (212) 344-5680
     Fax: (212) 344-6101
     E-mail: William.Schrag@thompsonhine.com
             Alan.Lepene@thompsonhine.com

                        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.

The Retirees Committee has hired Haskell Slaughter Young &
Rediker, LLC, and Arent Fox, LLC as Co-Counsel; Zolfo Cooper,
LLC, as Bankruptcy Consultants and Financial Advisors; and the
Segal Company, as Actuarial Advisors.

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 completed the $527 million sale of digital-imaging
technology on Feb. 1, 2013.  Kodak intends to reorganize by
focusing on the commercial printing business.

At the end of April 2013, Kodak filed a proposed reorganization
plan offering 85 percent of the stock to holders of the remaining
$375 million in second-lien notes. The other 15 percent is for
unsecured creditors with $2.7 billion in claims and retirees who
have a $635 million claim from the loss of retirement benefits.


EASTMAN KODAK: Court Approves Deal Resolving Rousselot Objection
----------------------------------------------------------------
Eastman Kodak Co. won court approval of an agreement to resolve
Rousselot Inc.'s objection to the proposed assumption of their
contract.

Kodak filed court papers last month in which it identified the
contracts it will assume as part of its plan to get out of
bankruptcy protection.  The company included in the list a 2013
gelatin supply agreement with Rousselot with a designated cure
amount of $0.

Under the deal, Kodak may assume the 2013 contract in a separate
omnibus order, subject to the terms of the agreement.  In return,
Rousselot agreed to withdraw its objection.  The agreement can be
accessed for free at http://is.gd/UlEXnO

Rousselot Inc. is represented by:

         Alec P. Ostrow, Esq.
         BECKER GLYNN MUFFLY CHASSIN & HOSINSKI LLP
         299 Park Avenue
         New York, New York 10171
         Tel: (212) 888-3033
         E-mail: aostrow@beckerglynn.com

                        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.

The Retirees Committee has hired Haskell Slaughter Young &
Rediker, LLC, and Arent Fox, LLC as Co-Counsel; Zolfo Cooper,
LLC, as Bankruptcy Consultants and Financial Advisors; and the
Segal Company, as Actuarial Advisors.

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 completed the $527 million sale of digital-imaging
technology on Feb. 1, 2013.  Kodak intends to reorganize by
focusing on the commercial printing business.

At the end of April 2013, Kodak filed a proposed reorganization
plan offering 85 percent of the stock to holders of the remaining
$375 million in second-lien notes. The other 15 percent is for
unsecured creditors with $2.7 billion in claims and retirees who
have a $635 million claim from the loss of retirement benefits.


EIRE 26: Case Summary & 5 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Eire 26, LLC
        P.O. Box 218
        Boca Raton, FL 33429

Bankruptcy Case No.: 13-29637

Chapter 11 Petition Date: August 19, 2013

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Paul G. Hyman Jr.

Debtor's Counsel: Chad P Pugatch, Esq.
                  RICE PUGATCH ROBINSON & SCHILLER, P.A.
                  101 NE 3 Ave., Suite 1800
                  Ft. Lauderdale, FL 33301
                  Tel: (954) 462-8000
                  E-mail: cpugatch.ecf@rprslaw.com

Scheduled Assets: $1,700,052

Scheduled Liabilities: $5,588,754

A list of the Company's five largest unsecured creditors, filed
together with the petition, is available for free at
http://bankrupt.com/misc/flsb13-29637.pdf

The petition was signed by Mark D. Spillane, managing member.

Affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Eire Bungalows, LLC                    13-24851   06/25/13
Eire Heritage, LLC                     13-24849   06/25/13
Eire LW Road, LLC                      13-24850   06/25/13


EMBROIDERY C: Case Summary & 4 Unsecured Creditors
--------------------------------------------------
Debtor: Embroidery C & D, LLC
        1 Rolling Meadow Court
        Long Valley, NJ 07853

Bankruptcy Case No.: 13-28264

Chapter 11 Petition Date: August 20, 2013

Court: U.S. Bankruptcy Court
       District of New Jersey (Newark)

Judge: Donald H. Steckroth

Debtor's Counsel: Bruce W. Radowitz, Esq.
                  BRUCE W. RADOWITZ, ESQ., P.A.
                  636 Chestnut Street
                  Union, NJ 07083
                  Tel: (908) 687-2333
                  Fax: (908) 687-6330
                  E-mail: bradowitz@comcast.net

Scheduled Assets: $117,750

Scheduled Liabilities: $3,003,200

A copy of the Company's list of its largest unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/njb13-28264.pdf

The petition was signed by Wahid A. Sattar, partner.


ENVISION HEALTHCARE: Moody's Alters Rating Outlook to Stable
------------------------------------------------------------
Moody's Investors Service changed the rating outlook on Envision
Healthcare Corporation to stable from negative. Concurrently,
Moody's affirmed the B2 Corporate Family Rating and the B2-PD
Probability of Default Rating. In addition, Moody's lowered
Envision's senior secured term loan rating to B1 from Ba3 and the
senior unsecured notes rating to Caa1 from B3. Moody's also
affirmed the Caa1 senior PIK-Toggle notes rating at Envision
Healthcare Holdings, Inc. and will withdraw the rating once the
notes have been repaid.

The change in the rating outlook reflects the improvement in
Envision's debt capital structure, namely the repayment of $450
million PIK-toggle notes with proceeds raised from the company's
$1.1 billion initial public offering. Moody's estimates that pro
forma leverage for the LTM period ending June 30, 2013, improved
to 5.5 times from 6.5 times. It is Moody's expectation that
Envision's leverage will remain within the range of 4.8 times to
5.5 times for the next twelve months and that the company will
remain disciplined with the use of cash on hand (about $480
million) primarily for a combination of acquisitions and further
debt repayment.

The lowering of the company's term loan and unsecured notes
ratings reflects less loss absorption within the capital structure
that had previously been provided by the $450 million PIK-toggle
notes at Envision HealthCare Holdings'. The PIK notes added
cushion to the existing senior secured term loan and unsecured
notes in accordance with Moody's loss given default methodology.

Envision Healthcare Corporation

Ratings lowered:

Senior secured term loan due 2018 to B1 (LGD 3, 35%) from Ba3 (LGD
2, 26%)

Senior unsecured notes due 2019 to Caa1 (LGD 5, 83%) from B3 (LGD
5, 71%)

Ratings affirmed:

Corporate Family Rating at B2

Probability of Default Rating at B2-PD

Envision Healthcare Holdings, Inc.:

Ratings to be withdrawn at closing

Senior PIK-Toggle notes due 2017 at Caa1 (LGD6, 93%)

Ratings Rationale:

The B2 Corporate Family Rating reflects moderately high financial
leverage following the company's repayment of $450 million PIK
Toggle Notes, with proceeds from its initial public offering. Pro
forma leverage is estimated to be 5.5 times as of June 30, 2013,
which is an improved from the 6.5 times for the same period. These
developments have allowed Envision to build additional cash
reserves and will likely aid in the company's ability to invest in
moderate sized acquisitions without detrimental effect on credit
metrics. Moody's believes that Envision will continue to focus on
reducing debt with available free cash flow as capital spending is
expected to remain modest. The company's rating benefits from its
significant scale in its two primarily segments, which are
otherwise very fragmented among other providers.

The stable outlook reflects Moody's expectation that the company
will continue to benefit from both organic expansion of operations
as well as moderate-sized acquisitions. The outlook also reflects
Moody's anticipation that the company will remain disciplined in
its acquisition strategy with respect to leverage and its
expansion into newer service areas.

The ratings could be upgraded over time if debt reduction or
profitable growth results in debt / EBITDA sustained below 4.5x
and free cash flow to debt above 8%.

The ratings could be downgraded if retained cash flow-to-debt
declines below 5.0% and debt leverage is sustained above 6 times.
Further, if Envision pursues additional acquisitions that are not
de-leveraging or shareholder friendly initiatives, the ratings
could be downgraded. Additionally, if government reimbursement
levels are significantly reduced in any segment of the company's
business, professional liability claims rise materially above
current levels, or if payor mix shifts materially impacting
pricing, such that the company is expected to have negative free
cash flow for a sustained period, the ratings could be downgraded.

The principal methodology used in this rating 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.

Envision HealthCare Corporation is a leading provider of emergency
medical services in the U.S. Envision operates through three
business segments: EmCare is the company's emergency department
and hospital physician outsourcing segment, AMR is a leading
provider of medical transport in the U.S and Evolution Health is
an emerging provider of comprehensive physician-led post-hospital
management solutions.


EXCEL MARITIME: Committee Seeks to Hire Jefferies as Banker
-----------------------------------------------------------
BankruptcyData reported that Excel Maritime Carriers' official
committee of unsecured creditors filed with the U.S. Bankruptcy
Court a motion to retain Jefferies (Contact: Richard Morgner) as
investment banker for a monthly fee of $125,000 and a transaction
fee of $1,250,000 under consummation of any transaction.

The motion explains, "The Committee's selection of Jefferies as
its investment banker was based on the Committee's determination
that Jefferies is the best candidate for the services to be
provided and that its proposed fee structure is competitive and
appropriate given the Committee's understanding of the facts and
circumstances of these chapter 11 cases. The Committee further
selected Jefferies to act as its investment banker in these
chapter 11 cases because of its significant expertise in providing
investment banking services to debtors and creditors in
restructurings and distressed situations."

                       About Excel Maritime

Based in Athens, Greece, Excel Maritime Carriers Ltd. --
http://www.excelmaritime.com/-- is an owner and operator of dry
bulk carriers and a provider of worldwide seaborne transportation
services for dry bulk cargoes, such as iron ore, coal and grains,
as well as bauxite, fertilizers and steel products.  Excel owns a
fleet of 40 vessels and, together with 7 Panamax vessels under
bareboat charters, operates 47 vessels (5 Capesize, 14 Kamsarmax,
21 Panamax, 2 Supramax and 5 Handymax vessels) with a total
carrying capacity of approximately 3.9 million DWT.  Excel Class A
common shares have been listed since Sept. 15, 2005, on the New
York Stock Exchange (NYSE) under the symbol EXM and, prior to that
date, were listed on the American Stock Exchange (AMEX) since
1998.

The company blamed financial problems on low charter rates.

The balance sheet for December 2011 had assets of $2.72 billion
and liabilities totaling $1.16 billion.  Excel owes $771 million
to secured lenders with liens on almost all assets.  There is $150
million owing on 1.875 percent unsecured convertible notes.

Excel Maritime, filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 13-bk- 23060) on July 1, 2013, in New York after signing an
agreement where secured lenders owed $771 million support a
reorganization plan filed alongside the petition.

Excel, which sought bankruptcy with a number of affiliates, has
tapped Skadden, Arps, Slate, Meagher & Flom LLP, as counsel;
Miller Buckfire & Co. LLC, as investment banker; and Global
Maritime Partners Inc., as financial advisor.

A five-member official committee of unsecured creditors was
appointed by the U.S. Trustee.


EXCEL MARITIME: Wins Subpoena Of Creditors' Financial Docs
----------------------------------------------------------
Law360 reported that a New York bankruptcy judge granted Excel
Maritime Carriers Ltd.'s request to subpoena a group of unsecured
creditors that contend it is worth more than it claims and should
provide them greater recovery.

Investment advisory firms and unsecured creditors Zazove
Associates LLC, Silverback Asset Management LLC and Kayne Anderson
Capital Advisors LP must now turn over the financial documents
they relied on to support their claim within a week of being
served the subpoenas, according to U.S. Bankruptcy Judge Robert D.
Drain's order, the report related.

                       About Excel Maritime

Based in Athens, Greece, Excel Maritime Carriers Ltd. --
http://www.excelmaritime.com/-- is an owner and operator of dry
bulk carriers and a provider of worldwide seaborne transportation
services for dry bulk cargoes, such as iron ore, coal and grains,
as well as bauxite, fertilizers and steel products.  Excel owns a
fleet of 40 vessels and, together with 7 Panamax vessels under
bareboat charters, operates 47 vessels (5 Capesize, 14 Kamsarmax,
21 Panamax, 2 Supramax and 5 Handymax vessels) with a total
carrying capacity of approximately 3.9 million DWT.  Excel Class A
common shares have been listed since Sept. 15, 2005, on the New
York Stock Exchange (NYSE) under the symbol EXM and, prior to that
date, were listed on the American Stock Exchange (AMEX) since
1998.

The company blamed financial problems on low charter rates.

The balance sheet for December 2011 had assets of $2.72 billion
and liabilities totaling $1.16 billion.  Excel owes $771 million
to secured lenders with liens on almost all assets.  There is $150
million owing on 1.875 percent unsecured convertible notes.

Excel Maritime, filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 13-bk- 23060) on July 1, 2013, in New York after signing an
agreement where secured lenders owed $771 million support a
reorganization plan filed alongside the petition.

Excel, which sought bankruptcy with a number of affiliates, has
tapped Skadden, Arps, Slate, Meagher & Flom LLP, as counsel;
Miller Buckfire & Co. LLC, as investment banker; and Global
Maritime Partners Inc., as financial advisor.

A five-member official committee of unsecured creditors was
appointed by the U.S. Trustee.


FINJAN HOLDINGS: Delays Form 10-Q for Second Quarter
----------------------------------------------------
Finjan Holdings, Inc., was not able to timely file its quarterly
report on Form 10-Q for the period ended June 30, 2013.  The
Company said the compilation, dissemination and review of the
information required to be presented in the Form 10-Q has imposed
time constraints that have rendered timely filing of the Form 10-Q
impracticable without unreasonable effort and expense.

The earnings statements to be included in Finjan Holdings, Inc.'s
quarterly report on Form 10-Q for the period ended June 30, 2013,
will reflect changes from the corresponding period for its last
fiscal year, which changes cannot yet be quantified, and some of
which may be significant.  The changes arise from the fact that
the Company engaged in a reverse acquisition on June 3, 2013, and
accordingly, the historical operations that will be reflected in
the earnings statement included in the Form 10-Q will reflect the
historical results of Finjan, Inc.

                            About Finjan

Finjan, formerly known as Converted Organics, Inc., is a leading
online security and technology company which owns a portfolio of
patents, related to software that proactively detects malicious
code and thereby protects end-users from identity and data theft,
spyware, malware, phishing, trojans and other online threats.
Founded in 1997, Finjan is one of the first companies to develop
and patent technology and software that is capable of detecting
previously unknown and emerging threats on a real-time, behavior-
based basis, in contrast to signature-based methods of
intercepting only known threats to computers, which were
previously standard in the online security industry.

Converted Organics disclosed a net loss of $8.42 million in 2012,
as compared with a net loss of $17.98 million in 2011.  The
Company's balance sheet at March 31, 2013, showed $2.66 million in
total assets, $5.19 million in total liabilities, and a $2.53
million total stockholders' deficit.

Moody, Famiglietti & Andronico, LLP, in Tewksbury, Massachusetts,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2012, citing
recurring losses and negative cash flows from operations and an
accumulated deficit that raises substantial doubt about the
Company's ability to continue as a going concern.


FIRST FINANCIAL: Incurs $1.1 Million Net Loss in Second Quarter
---------------------------------------------------------------
First Financial Service Corporation filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $1.12 million on $8.21 million of total
interest income for the three months ended June 30, 2013, as
compared with a net loss of $4.13 million on $10.73 million of
total interest income for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $1 million on $16.75 million of total interest income, as
compared with a net loss of $4.42 million on $22.62 million of
total interest income for the same period last year.

As of June 30, 2013, the Company had $884.51 million in total
assets, $849.91 million in total liabilities and $34.60 million in
total stockholders' equity.

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

                         http://is.gd/dvcfAy

                        About First Financial

Elizabethtown, Kentucky-based First Financial Service Corporation
is the parent bank holding company of First Federal Savings Bank
of Elizabethtown, which was chartered in 1923.  The Bank serves
six contiguous counties encompassing central Kentucky and the
Louisville metropolitan area, through its 17 full-service banking
centers and a commercial private banking center.

In its 2012 Consent Order, the Bank agreed to achieve and maintain
a Tier 1 capital ratio of 9.0 percent and a total risk-based
capital ratio of 12.0 percent by June 30, 2012.

"At December 31, 2012, the Bank's Tier 1 capital ratio was 6.53%
and the total risk-based capital ratio was 12.21%.  We notified
the bank regulatory agencies that one of the two capital ratios
would not be achieved and are continuing our efforts to meet and
maintain the required regulatory capital levels and all of the
other consent order issues for the Bank," the Company said in its
annual report for the year ended Dec. 31, 2012.

First Financial disclosed a net loss attributable to common
shareholders of $9.44 million in 2012, a net loss attributable to
common shareholders of $24.21 million in 2011 and a net loss
attributable to common shareholders of $10.45 million in 2010.

Crowe Horwath LLP, in Louisville, Kentucky, said in its report on
the consolidated financial statements for the year ended Dec. 31,
2012, "[T]he Company has recently incurred substantial losses,
largely as a result of elevated provisions for loan losses and
other credit related costs.  In addition, both the Company and its
bank subsidiary, First Federal Savings Bank, are under regulatory
enforcement orders issued by their primary regulators.  First
Federal Savings Bank is not in compliance with its regulatory
enforcement order which requires, among other things, increased
minimum regulatory capital ratios.  First Federal Savings Bank's
continued non-compliance with its regulatory enforcement order may
result in additional adverse regulatory action."


FIRST MARINER: Incurs $1.5 Million Net Loss in Second Quarter
-------------------------------------------------------------
First Mariner Bancorp filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.48 million on $9.92 million of total interest income for the
three months ended June 30, 2013, as compared with net income of
$5.67 million on $11.17 million of total interest income for the
same period last year.

For the six months ended June 30, 2013, the Company reported a net
loss of $3.75 million on $21.05 million of total interest income,
as compared with net income of $7.49 million on $22.78 million of
total interest income for the same period during the prior year.

As of June 30, 2013, the Company had $1.21 billion in total
assets, $1.22 billion in total liabiliteis and a $13.26 million in
total stockholders' deficit.

Mark A. Keidel, 1st Mariner's interim chief executive officer,
said, "Our results this quarter were dampened by rising long term
interest rates, which slowed refinancings and overall revenue from
our mortgage banking operations as compared to the second quarter
of 2012.  Additionally, we experienced higher operating expenses
for professional services and expenses associated with efforts to
raise capital."

Mr. Keidel continued, "We continued to see improvement in our
asset quality during the recent quarter and our level of non-
performing assets have declined 35% in the first half of 2013.  As
a result, our ratio of non-performing assets to total assets
improved to 3.0% as of June 30, 2013, down from 4.1% as of
December 31, 2012 and 4.6% as of June 30, 2012."

Mr. Keidel concluded, "As we move into the second half of 2013, we
will continue our focus on improving our core banking
profitability and meeting the capital levels required in our
regulatory orders."

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

                        http://is.gd/NwI3LF

                       Annual Meeting Results

At an annual meeting of the Company's stockholders which was held
on May 14, 2013, George H. Mantakos, Michael R. Watson, Hector
Torres and Gregory A. Devou were elected as directors, each for a
three-year term with terms expiring in 2016.  The appointment of
Stegman & Company as the Company's independent registered public
accounting firm for the year ending Dec. 31, 2013, was ratified by
the stockholders.  The stockholders approved, on an advisory
basis, the compensation of the Company's named executive officers.
The stockholders also approved a holding of a stockholder vote to
approve the compensation of the named executive officers every two
years.

                         About First Mariner

Headquartered in Baltimore, Maryland, First Mariner Bancorp
-- http://www.1stmarinerbancorp.com/-- is a bank holding company
whose business is conducted primarily through its wholly owned
operating subsidiary, First Mariner Bank, which is engaged in the
general general commercial banking business.  First Mariner was
established in 1995 and has total assets in excess of $1.3 billion
as of Dec. 31, 2010.

First Mariner disclosed net income of $16.11 million in 2012, as
compared with a net loss of $30.24 million in 2011.

Stegman & Company, in Baltimore, Maryland, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has insufficient capital per regulatory
guidelines and has failed to reach capital levels required in the
Cease and Desist Order issued by the Federal Deposit Insurance
Corporation in September 2009.  These matters raise substantial
doubt about the Company's ability to continue as a going concern.

               Regulatory matters and capital adequacy

Various regulatory capital requirements administered by the
federal banking agencies apply to First Mariner and the Bank.
Failure to meet minimum capital requirements can initiate certain
mandatory, and possibly additional discretionary, actions by
regulators that, if undertaken, could have a direct material
effect on the Company's financial statements.  Under capital
adequacy guidelines and the regulatory framework for prompt
corrective action, the Bank must meet specific capital guidelines
that involve quantitative measures of assets, liabilities, and
certain off-balance sheet items as calculated under regulatory
accounting practices.  The Bank's capital amounts and
classification are also subject to qualitative judgments by the
regulators about components, risk weightings, and other factors.

Quantitative measures established by regulation to ensure capital
adequacy require the Bank to maintain minimum amounts and ratios
of total and Tier I capital to risk-weighted assets, and of Tier I
capital to average quarterly assets.  As of both March 31, 2013,
and Dec. 31, 2012, the Bank was "undercapitalized" under the
regulatory framework for prompt corrective action.


FLORIDA GAMING: Miami Jai-Alai Operator Wins Nod to Use Cash
------------------------------------------------------------
Florida Gaming Centers Inc. and its debtor-affiliates -- entities
operating the Miami Jai-Alai -- sought approval to use cash
collateral.  The Debtors explained that Miami Jai-Alai's immediate
use of cash collateral is necessary to maintain operations.

The Debtors explained that if the public perception of the
operations is that it does not have sufficient cash to operate it
will quickly lose its employees and customer base.

According to court papers, the prepetition secured lenders are
owed approximately $128 million.  The Debtors believe that the
prepetition secured parties are fully protected with an equity
cushion of more than 30% based on an appraisal performed by an
independent appraiser.  Additionally, the Debtors provide for
further adequate protection by offering the pre-petition secured
parties a replacement lien to the extent of their lien, if any, as
of the Petition Date.

As of the Petition Date, the Debtors had approximately $4 million
of cash and cash equivalents.  Of this amount, approximately $3
million consists of "cage cash," which is used in operations day
to day, such as the casino tables, slots, floor banks, and change
booths.

The Debtors submit that cage cash does not constitute cash
collateral and is excluded from the syndicated credit facility,
alleged prepetition lender liens, and other alleged prepetition
liens.  While most of the Debtors' cash would not constitute Cash
collateral, the Debtors filed a motion to access their cash and
cash equivalents out of an abundance of caution.

According to the Miami Herald, the bankruptcy judge has allowed
the Debtors to continue using cash postpetition.

                    About Florida Gaming

Florida Gaming Centers Inc. filed for Chapter 11 bankruptcy
(Bankr. S.D. Fla. Case No. 13-29597) in Miami on Aug. 19, 2013.
Florida Gaming Centers operates a casino and jai-alai frontons in
Miami.  The Company listed debt of $138.3 million and assets of
$180 million in its petition.

Its parent, Florida Gaming Corp. (FGMG:US), and two other
affiliates also sought court protection.

Florida Gaming previously negotiated a sale of virtually all its
assets to casino operator Silvermark LLC for $115 million in cash
and $14 million in assumed liabilities.  A provision in the
financing agreement required Florida Gaming to make an additional
payment to the lender -- ABC Funding -- if the assets are sold to
third party.  Jefferies LLC was hired to determine that amount,
about $26.8 million, and valued the company at more than $180
million.

Luis Salazar, Esq., Esq., at Salazar Jackson in Miami, represents
Florida Gaming.


FLORIDA GAMING: Taps Salazar Jackson as Bankruptcy Counsel
----------------------------------------------------------
Florida Gaming Centers Inc. and its debtor-affiliates seek
approval from the bankruptcy court to hire Luis Salazar, and the
firm of Salazar Jackson, LLP, as general counsel, nunc pro tunc to
the Petition Date.

The Debtors believe that Mr. Salazar is well-suited for the
representation of Miami Jai-Alai in this case as he has
successfully represented debtors in Chapter 11 cases before this
Court and others prior to founding the Salazar Jackson firm.

To the best of Miami Jai-Alai's knowledge, Salazar Jackson (a)
does not hold or represent any interest adverse to Miami Jai-Alai
or the Chapter 11 estates, or any other party in interest that
would constitute a conflict of interest or otherwise impair the
disinterestedness of Salazar Jackson; and (b) is a "disinterested
person" as that term is defined in 11 U.S.C. Sec. 101(14).

Salazar Jackson has advised Miami Jai-Alai that the hourly rates
applicable to the principal attorneys, law clerks, and paralegals
proposed to represent Miami Jai-Alai are:

     (a) Luis Salazar $450.00 per hour
     (b) Linda Jackson $450.00 per hour
     (c) Aaron Honaker $350.00 per hour
     (d) Celi Aguilar $285.00 per hour
     (e) Ali-Marcelle Lee-Sin $140.00 per hour

Salazar Jackson's hourly rates are generally in these ranges:

     TITLE             RATE PER HOUR
     -----            -------------
     Partners                $450
     Of Counsel         $350 to $425
     Associates         $285 to $325
     Law Clerks         $210 to $270
     Paralegals              $185
     Junior Paralegal        $140

                    About Florida Gaming

Florida Gaming Centers Inc. filed for Chapter 11 bankruptcy
(Bankr. S.D. Fla. Case No. 13-29597) in Miami on Aug. 19, 2013.
Florida Gaming Centers operates a casino and jai-alai frontons in
Miami.  The Company listed debt of $138.3 million and assets of
$180 million in its petition.

Its parent, Florida Gaming Corp. (FGMG:US), and two other
affiliates also sought court protection.

Florida Gaming previously negotiated a sale of virtually all its
assets to casino operator Silvermark LLC for $115 million in cash
and $14 million in assumed liabilities.  A provision in the
financing agreement required Florida Gaming to make an additional
payment to the lender -- ABC Funding -- if the assets are sold to
third party.  Jefferies LLC was hired to determine that amount,
about $26.8 million, and valued the company at more than $180
million.


FLORIDA GAMING: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Florida Gaming Centers, Inc.
          dba Miami Jai-Alai Casino
        3500 NW 37th Avenue
        Miami, FL 33142

Bankruptcy Case No.: 13-29597

Affiliates that simultaneously filed for Chapter 11:

        Debtor                     Case No.
        ------                     --------
Florida Gaming Corporation         13-29598
Tara Club Estate, Inc.             13-29603
Freedom Holding, Inc.              13-29607

Chapter 11 Petition Date: August 19, 2013

Court: U.S. Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Robert A. Mark

Debtors' Counsel: Luis Salazar, Esq.
                  SALAZAR JACKSON, LLP
                  One Biscayne Tower, Suite 3760
                  Two South Biscayne Boulevard
                  Miami, FL 33131
                  Tel: (305) 374-4848
                  Fax: (305) 397-1021
                  E-mail: salazar@salazarjackson.com

Total Assets: $180,000,000 as of July 31, 2013

Total Liabilities: $138,299,561 as of July 31, 2013

The petitions were signed by W. Bennett Collett, Jr., president
and CEO.

A. Florida Gaming Centers' List of Its 20 Largest Unsecured
Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Miami Casino Management, LLC       Trade Debt           $1,125,000
21001 North Tatun Boulevard, Suite 1630-256
Phoenix, AZ 85050

Miami Gaming Ventures, LLC         Trade Debt             $541,000
235 Caatalonia Avenue
Miami, FL 33134

American Gaming Systems, LLS       Trade Debt             $449,946
6680 Amelia Earhart Court
Las Vegas, NV 89119

Frost, Brown, Todd. LLC            Trade Debt             $291,860
400 West Market Street, Suite 3200
Louisville, KY 40202

International Sound Corporation    Trade Debt             $195,797

Tampa Bay Downs                    Trade Debt             $121,608

Allied Health Plans                Trade Debt             $111,134

Roberts Communication Network,     Trade Debt              $70,850
Inc.

Edmunds Direct Mail, Inc.          Trade Debt              $68,124

Dania Jai-Alai                     Trade Debt              $58,947

Florida Legislative Consultants,   Trade Debt              $55,000
Inc.

SHFL Entertainment, Inc.           Trade Debt              $50,333

Palm Beach Kennel                  Trade Debt              $49,743

Gulfstream Park                    Trade Debt              $48,803

Aristocrat Technologies            Trade Debt              $42,426

Sportech, Inc.                     Trade Debt              $40,955

IGT-Eastern Operating              Trade Debt              $39,005

Derby Lane                         Trade Debt              $32,835

Cousins, Chipman, and Brown        Trade Debt              $29,818

Hudson and Calleja                 Trade Debt              $26,191


B. A copy of Freedom Holding's list of its three largest unsecured
creditors, filed together with the petition, is available for free
at http://bankrupt.com/misc/flsb13-29607.pdf


FLORIDA GAMING: Delays Form 10-Q for Second Quarter
---------------------------------------------------
Florida Gaming Corporation was unable to file its quarterly report
on Form 10-Q for the period ended June 30, 2013, within the
prescribed time period without unreasonable effort or expense.
Management deems it necessary that additional time be taken in
order to ensure that complete, thorough and accurate disclosure of
all material information is made in its quarterly report.

                    About Florida Gaming

Florida Gaming Centers Inc. filed for Chapter 11 bankruptcy
(Bankr. S.D. Fla. Case No. 13-29597) in Miami on Aug. 19, 2013.
Florida Gaming Centers operates a casino and jai-alai frontons in
Miami.  The Company listed debt of $138.3 million and assets of
$180 million in its petition.

Its parent, Florida Gaming Corp. (FGMG:US), and two other
affiliates also sought court protection.

Florida Gaming previously negotiated a sale of virtually all its
assets to casino operator Silvermark LLC for $115 million in cash
and $14 million in assumed liabilities.  A provision in the
financing agreement required Florida Gaming to make an additional
payment to the lender -- ABC Funding -- if the assets are sold to
third party.  Jefferies LLC was hired to determine that amount,
about $26.8 million, and valued the company at more than $180
million.


FNBH BANCORP: Posts $215,000 Net Income in Second Quarter
---------------------------------------------------------
FNBH Bancorp, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $215,000 on $2.57 million of total interest and dividend income
for the three months ended June 30, 2013, as compared with a net
loss of $89,000 on $2.80 million of total interest and dividend
income for the same period a year ago.

For the six months ended June 30, 2013, the Company reported net
income of $2.70 million on $5.32 million of total interest and
dividend income, as compared with a net loss of $43,000 on $5.71
million of total interest and dividend income for the same period
last year.

The Company's balance sheet at June 30, 2013, showed $299.05
million in total assets, $289.61 million in total liabilities and
$9.43 million in total shareholders' equity.

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

                        http://is.gd/2diQMY

                        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.

FNBH disclosed net income of $329,000 in 2012, as compared with a
net loss of $3.57 million in 2011.

BDO USA, LLP, in Grand Rapids, Michigan, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.

"The Corporation's subsidiary bank ("Bank") is significantly
undercapitalized under regulatory capital guidelines and, during
2009, the Bank entered into a consent order regulatory enforcement
action ("consent order") 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.  As discussed in
Note 20, the Bank has not yet met the higher capital requirements
and is therefore not in compliance with the consent order.  As a
result of the uncertain potential impact of future regulatory
actions, circumstances exist that raise substantial doubt about
the Corporation's ability to continue as a going concern."


FOUR OAKS: Incurs $104,000 Net Loss in Second 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 $104,000 on $7.26 million of total interest and
dividend income for the three months ended June 30, 2013, as
compared with net income of $29,000 on $8.58 million of total
interest and dividend income for the same period during the prior
year.

For the six months ended June 30, 2013, the Company reported a net
loss of $27,000 on $14.77 million of total interest and dividend
income, as compared with net income of $581,000 on $17.74 million
of total interest and dividend income for the same period a year
ago.

As of June 30, 2013, the Company had $828.93 million in total
assets, $806.66 million in total liabilities and $22.26 million in
total shareholders' equity.

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

                         http://is.gd/2HjaTi

                          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.

Four Oaks disclosed a net loss of $6.96 million in 2012, as
compared with a net loss of $9.09 million in 2011.

"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 H - Trust Preferred
Securities and Note K - Regulatory Restrictions.  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.

"In order for the Company and the Bank to maintain its well
capitalized position under federal banking agencies' guidelines,
management believes that the Company may need to raise additional
capital to absorb the potential future credit losses associated
with the disposition of its nonperforming assets.  Management is
in the process of evaluating various alternatives to increase
tangible common equity and regulatory capital through the issuance
of additional equity.  The Company is also working to reduce its
balance sheet to improve capital ratios and is actively evaluating
a number of capital sources, asset reductions and other balance
sheet management strategies to ensure that the projected level of
regulatory capital can support its balance sheet long-term.  There
can be no assurance as to whether these efforts will be
successful, either on a short-term or long-term basis.  Should
these efforts be unsuccessful, the Company may be unable to
discharge its liabilities in the normal course of business.  There
can be no assurance that the Company will be successful in any
efforts to raise additional capital during 2013," according to the
Company's annual report for the period ended Dec. 31, 2012.


FREESEAS INC: Issues 825,000 Add'l Settlement Shares to Hanover
---------------------------------------------------------------
FreeSeas Inc. issued and delivered to Hanover 825,000 additional
settlement shares pursuant to the terms of the Settlement
Agreement approved by the Supreme Court of the State of New York,
County of New York, on June 25, 2013.

The Court approved settlement between FreeSeas and Hanover
Holdings I, LLC, in the matter entitled Hanover Holdings I, LLC v.
FreeSeas Inc., Case No. 651950/2013.  Hanover commenced the Action
against the Company on May 31, 2013, to recover an aggregate of
$5,331,011 of past-due accounts payable of the Company, plus fees
and costs.  The Order provides for the full and final settlement
of the Claim and the Action.

Pursuant to the terms of the Settlement Agreement, on June 26,
2013, the Company issued and delivered to Hanover 890,000 shares
of the Company's common stock, $0.001 par value, and between
July 2, 2013, and Aug. 13, 2013, the Company issued and delivered
to Hanover an aggregate of 12,333,000 Additional Settlement
Shares.

A copy of the Form 6-K is available for free at:

                        http://is.gd/xKuuM8

                        About FreeSeas Inc.

Headquartered in Athens, Greece, FreeSeas Inc., formerly known as
Adventure Holdings S.A., was incorporated in the Marshall Islands
on April 23, 2004, for the purpose of being the ultimate holding
company of ship-owning companies.  The management of FreeSeas'
vessels is performed by Free Bulkers S.A., a Marshall Islands
company that is controlled by Ion G. Varouxakis, the Company's
Chairman, President and CEO, and one of the Company's principal
shareholders.

The Company's fleet consists of six Handysize vessels and one
Handymax vessel that carry a variety of drybulk commodities,
including iron ore, grain and coal, which are referred to as
"major bulks," as well as bauxite, phosphate, fertilizers, steel
products, cement, sugar and rice, or "minor bulks."  As of
Oct. 12, 2012, the aggregate dwt of the Company's operational
fleet is approximately 197,200 dwt and the average age of its
fleet is 15 years.

Freeseas disclosed a net loss of US$30.88 million in 2012, a net
loss of US$88.19 million in 2011, and a net loss of US$21.82
million in 2010.  The Company's balance sheet at Dec. 31, 2012,
showed US$114.35 million in total assets, $106.55 million in
total liabilities and US$7.80 million in total shareholders'
equity.

RBSM LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2012.  The independent auditors noted that the Company has
incurred recurring operating losses and has a working capital
deficiency.  In addition, the Company has failed to meet
scheduled payment obligations under its loan facilities and has
not complied with certain covenants included in its loan
agreements.  It has also failed to make required payments to
Deutsche Bank Nederland as agreed to in its Sept. 7, 2012,
amended and restated facility agreement and received notices of
default from First Business Bank.  Furthermore, the vast majority
of the Company's assets are considered to be highly illiquid and
if the Company were forced to liquidate, the amount realized by
the Company could be substantially lower that the carrying value
of these assets.  These conditions, among others, raise
substantial doubt about the Company's ability to continue as a
going concern.


FRIENDSHIP DAIRIES: Court Denies Request to Extend Exclusivity
--------------------------------------------------------------
Friendship Dairies' exclusive periods to propose a Chapter 11 plan
and solicit acceptances of that plan have expired.

The U.S. Bankruptcy Court for the Northern District of Texas has
denied the request of Friendship Dairies to extend its exclusive
period to file a plan from May 31, 2013, to July 31, 2013

The Bankruptcy Court has approved the adequacy of the Third
Amended Disclosure Statement for Friendship Dairies' amended
Chapter 11 plan filed July 2, 2013.  The Court fixed Sept. 4,
2013, as the last day for filing written acceptances or rejections
of the plan.  The Court will consider confirmation of the Plan at
a hearing on Sept. 10, 2013, at 9:00 a.m.  The last day for filing
and serving written objections to confirmation is on Sept. 4,
2013.

In summary, the Plan contemplates the payment of all
administrative claimants, secured creditors, and trade creditors
in full.

                     About Friendship Dairies

Friendship Dairies filed a Chapter 11 petition (Bankr. N.D. Tex.
Case No. 12-20405) in Amarillo, Texas, on Aug. 6, 2012.  The
Debtor operates a dairy near Hereford, Deaf Smith County, Texas.
The dairy consists of 11,000 head of cattle, fixtures and
equipment.  The Debtor also farms 5,000 acres of land for
production of various crops used in feeding for the cattle.

The Debtor owes McFinney Agri-Finance, LLC, $16 million secured
by the Debtor's property, which is appraised at more than
$24 million.  The Debtor disclosed $44,421,851 in assets and
$45,554,951 in liabilities as of the Chapter 11 filing.

Bankruptcy Judge Robert L. Jones oversees the case.  J. Bennett
White, P.C., serves as the Debtor's counsel.  The petition was
signed by Patrick Van Adrichem, partner.

The U.S. Trustee appointed a six-member creditors committee in the
Debtor's case.  The Committee tapped Levenfeld Pearlstein
as lead counsel, and Mullin, Hoard & Brown as local counsel.


FUSION TELECOMMUNICATIONS: Delays Form 10-Q for Second Quarter
--------------------------------------------------------------
Fusion Telecommunications International, Inc., notified the U.S.
Securities and Exchange Commission that it requires additional
time to complete its financial statements as of and for the
quarterly period ending June 30, 2013.

                  About Fusion Telecommunications

New York City-based Fusion Telecommunications International, Inc.
(OTC BB: FSNN) is a provider of Internet Protocol ("IP") based
digital voice and data communications services to corporations and
carriers worldwide.

The Company reported a net loss of $5.20 million in 2012, as
compared with a net loss of $4.45 million in 2011.  The Company's
balance sheet at March 31, 2013, showed $27.53 million in total
assets, $34.27 million in total liabilities and a $6.73 million
total stockholders' deficit.

Rothstein Kass, in Roseland, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that the
Company has had negative working capital balances, incurred
negative cash flows from operations and net losses since
inception, and has limited capital to fund future operations that
raises a substantial doubt about their ability to continue as a
going concern.


GEOMET INC: Posts $42.4 Million Net Income in Second Quarter
------------------------------------------------------------
GeoMet, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $42.36 million on $12.09 million of total revenues for the
three months ended June 30, 2013, as compared with a net loss of
$53.90 million on $7.77 million of total revenues for the same
period during the prior year.

For the six months ended June 30, 2013, the Company reported net
income of $36.61 million on $23.01 million of total revenues, as
compared with a net loss of $106.85 million on $17.99 million of
total revenues for the same period last year.

For the year ended Dec. 31, 2012, the Company incurred a net loss
of $149.95 million on $39.38 million of total revenues, as
compared with net income of $2.81 million on $35.61 million of
total revenues in 2011.

The Company's balance sheet at June 30, 2013, showed $63.13
million in total assets, $99.28 million in total liabilities,
$37.95 million in mezzanine equity, and a $74.09 million total
stockholders' deficit.

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

                        http://is.gd/6chR6R

                          About Geomet Inc.

Houston, Texas-based GeoMet, Inc., is an independent energy
company primarily engaged in the exploration for and development
and production of natural gas from coal seams (coalbed methane)
and non-conventional shallow gas.  Its principal operations and
producing properties are located in the Cahaba and Black Warrior
Basins in Alabama and the central Appalachian Basin in Virginia
and West Virginia.  It also owns additional coalbed methane and
oil and gas development rights, principally in Alabama, Virginia,
West Virginia, and British Columbia.  As of March 31, 2012, it
owns a total of 192,000 net acres of coalbed methane and oil and
gas development rights.

GeoMet, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$149.95 million on $39.38 million of total revenues for the year
ended Dec. 31, 2012, as compared with net income of $2.81 million
on $35.61 million of total revenues in 2011.

Hein & Associates LLP, in Houston, Texas, issued a "going concern"
qualification on the Company's consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has suffered recurring losses, has a working
capital deficit of $4,659,296 at Dec. 31, 2012, and expects to
reclassify approximately $129,000,000 of long-term debt to current
liabilities on April 2, 2013.  These conditions, among others,
raise substantial doubt about its ability to continue as a going
concern.


GH BROADCASTING: Schedules of Assets and Debts Due Today
--------------------------------------------------------
GH Broadcasting, LLC, has until today, Aug. 23, to deliver to the
Bankruptcy Court its schedules of assets and liabilities, unless
that deadline is extended by court order.

On Aug. 1, the Court granted the Debtor's request for extension of
the schedules filing deadline through Friday.

GH Broadcasting, LLC sought and obtained approval from the U.S.
Bankruptcy Court to extend the deadline to file schedules of
assets and liabilities is extended until today, Aug. 23, 2013.

On July 2, 2013, an involuntary petition for relief (Bankr.
S.D. Tex. Case No. 13-20308) was filed against GH Broadcasting LLC
by Robert Behar, Estrella Behar, Pan Atlantic Bank & Trust Ltd.,
Latin Capital Ventures LLC, Joseph Kavana, Leibowitz Family
Broadcasting LLC, Guaranty, Morris Bailey, Jays Four LLC,
Jesselson Grandchildren, Sawicki Family Ltd. Partnership, Saby
Behar Rev Trust, Benjamin J. Jesselson, Sumit Enterprises LLC,
Pedro Dupouy, Shpilberg Mgmt Associates LLC, Leon Perez, and Jose
Rodriguez pursuant to section 303 of the Bankruptcy Code.


GLOBAL AXCESS: Court Clears Co. to Auction ATM Business
-------------------------------------------------------
Marie Beaudette, writing for DBR Small Cap, reported that a
bankruptcy judge has cleared Global Axcess Corp. to auction its
ATM business next month, with Financial Consulting & Trading
International Inc. kicking off bidding with a $10 million offer.

                        About Global Axcess

Jacksonville, Fla.-based Global Axcess Corp., through its wholly
owned subsidiaries, owns or leases, operates or manages Automated
Teller Machines ("ATM"s) and DVD kiosks with locations primarily
in the eastern and southwestern United States of America.
Affiliate Nationwide Ntertainment Services Inc. has 323 DVD
rental kiosks, mostly on military bases.

Global Axcess along with affiliates sought Chapter 11 protection
(Bankr. D. Nev. Case No. 13-51562) in Reno, Nevada on Aug. 5.

Gabrielle A. Hamm, Esq., at Gordon Silver, serves as counsel.
Smith, Gambrell & Russell, LLP is the co-counsel.  Morris Anderson
is the financial advisor, and Mayer Hoffman McCann, P.C., is the
tax consultant.

Global Axcess disclosed assets of $9.2 million and debt totaling
$19.3 million.


GLOBALSTAR INC: Meets Conditions in COFACE Facility Agreement
-------------------------------------------------------------
Globalstar, Inc. on Aug. 22 disclosed that the Company has met all
of the conditions precedent necessary for the effectiveness of the
Amended and Restated COFACE Facility Agreement.

The Agreement waives all existing defaults under the existing
facility, postpones the first principal payment date to December
2014, defers a total of $235.4 million in principal payments
through December 2019, and extends the final maturity date to
December 2022.  The Agreement also revises the financial covenants
to correspond to the Company's new business plan reflecting the
delay in delivery of its second-generation satellites.

Jay Monroe, Chairman and CEO of Globalstar, Inc. stated, "We
previously informed you that Globalstar expected to meet all of
the conditions precedent to close this transaction during the
month of August, and I am pleased to announce today that we have
done just that.  As part of the transactions completed over the
past few months, Thermo has invested, or committed to invest, an
additional $85 million in equity to Globalstar, demonstrating its
continued commitment to Globalstar and belief in the Company's
long-term growth opportunities both in the provision of mobile
satellite services around the world and the potential of our
unique spectrum assets.  We intend to move forward aggressively to
maximize these opportunities for the benefit of our customers and
our shareholders.  Once again, we would like to thank our French
lending group and all advisors involved in making this transaction
possible."


                         About Globalstar

Covington, Louisiana-based Globalstar Inc. provides mobile
satellite voice and data services.  Globalstar offers these
services to commercial and recreational users in more than 120
countries around the world.  The Company's products include mobile
and fixed satellite telephones, simplex and duplex satellite data
modems and flexible service packages.

Globalstar reported a net loss of $25.1 million on $19.3 million
of revenue for the three months ended March 31, 2013, compared
with a net loss of $24.5 million on $16.7 million of revenue for
the same period last year.

The Company's balance sheet at March 31, 2013, showed
$1.391 billion in total assets, $921 million in total
liabilities, and stockholders' equity of $469.6 million.

The Company said in its Form 10-Q for the quarter ended March 31,
2013, "We currently lack sufficient resources to meet our existing
contractual obligations over the next 12 months.  As a result,
there is substantial doubt that we can continue as a going
concern.  In order to continue as a going concern, we must obtain
additional external financing; amend the Facility Agreement and
certain other contractual obligations; and restructure the 5.75%
Notes.


GOOD SAM: Reports $10.6 Million Net Income in Second Quarter
------------------------------------------------------------
Good Sam Enterprises, LLC, filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $10.61 million on $156.94 million of revenues for
the three months ended June 30, 2013, as compared with net income
of $7.17 million on $146.33 million of revenues for the same
period a year ago.

For the six months ended June 30, 2013, Good Sam reported net
income of $14.97 million on $270.91 million of revenues, as
compared with net income of $7.18 million on $256.39 million of
revenues for the same period last year.

Good Sam reported net income of $9.37 million in 2012, as compared
with net income of $3.90 million in 2011.

The Company's balance sheet at June 30, 2013, showed $251.32
million in total assets, $487.52 million in total liabilities and
a $236.20 million total member's deficit.

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

                        http://is.gd/oZvBSV

                           About Good Sam

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

                           *     *     *

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.


GRAYMARK HEALTHCARE: Incurs $1.6 Million Net Loss in 2nd Quarter
----------------------------------------------------------------
Graymark Healthcare, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $1.63 million on $2.44 million of net revenues for
the three months ended June 30, 2013, as compared with a net loss
of $5.31 million on $4.31 million of net revenues for the same
period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $4.34 million on $5.34 million of net revenues, as
compared with a net loss of $7.28 million on $8.67 million of net
revenues for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $4.78 million
in total assets, $26.20 million in total liabilities and a $21.41
million total deficit.

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

                        http://is.gd/uuCsQg

                      About Graymark Healthcare

Graymark Healthcare, Inc., headquartered in Oklahoma City, Okla.,
provides care management solutions to the sleep disorder market.
As of June 30, 2012, the Company operated 107 sleep diagnostic and
therapy centers in 10 states.

                           Going Concern

As of March 31, 2013, the Company had an accumulated deficit of
$60.2 million and reported a net loss of $2.7 million for the
first quarter of 2013.  In addition, the Company used $0.3 million
in cash from operating activities from continuing operations
during the quarter.  On March 29, 2013, the Company signed a
definitive purchase agreement with Foundation Healthcare
Affiliates, LLC to purchase 100 percent of the interests in
Foundation Surgery Affiliates, LLC and Foundation Surgical
Hospital Affiliates, LLC, in exchange for 98.5 million shares of
the Company's common stock.  Management expects the transaction to
close in the second quarter of 2013; however, there is no
assurance the acquisition will close at that time or at all.

"If the Company is unable to close the Foundation transaction or
raise additional funds, the Company may be forced to substantially
scale back operations or entirely cease its operations and
discontinue its business.  These uncertainties raise substantial
doubt regarding the Company's ability to continue as a going
concern," according to the Company's quarterly report for the
period ended March 31, 2013.


GREENSHIFT CORP: Incurs $722,700 Net Loss in Second Quarter
-----------------------------------------------------------
Greenshift Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $722,738 on $4.74 million of total revenue for the three months
ended June 30, 2013, as compared with net income of $4.64 million
on $4.24 million of total revenue for the same period during the
prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $824,725 on $7.90 million of total revenue, as compared
with net income of $3.94 million on $7.15 million of ttoal revenue
for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $8.68 million
in total assets, $47.98 million in total liabilities and a $39.29
million total stockholders' deficit.

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

                         http://is.gd/aGSM46

                     About Greenshift Corporation

Headquartered in New York, GreenShift Corporation develops and
commercializes clean technologies designed to integrate into and
leverage established production and distribution infrastructure to
address the financial and environmental needs of its clients by
decreasing raw material needs, facilitating co-product reuse, and
reducing waste and emissions.

Greenshift Corporation disclosed net income of $2.46 million in
2012, as compared with net income of $7.90 million in 2011.

Rosenberg Rich Baker Berman & Company, in Somerset, NJ, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company had $2,030,577 in cash, and
current liabilities exceeded current assets by $41,087,222 as of
Dec. 31, 2012.  In addition...the Company could be subject to
default of its senior debt obligation in 2013 if a condition to a
forbearance agreement that is not within the Company's control is
not satisfied.  These conditions raise substantial doubt about its
ability to continue as a going concern.


GREENSHIFT CORP: Dale Fallat Holds 12.3% Equity Stake
-----------------------------------------------------
In a Schedule 13D filing with the U.S. Securities and Exchange
Commission, Dale W. Fallat disclosed that as of Aug. 14,2013, he
beneficially owned 18,172,751 shares of common stock of Greenshift
Corporation representing 12.3 percent of the shares outstanding.
The percentage is based upon a total of 147,441,907 shares
outstanding as of May 14, 2013, according to representations made
by the Company in its Form 10-Q for the quarterly period ended
March 31, 2013, filed on May 15, 2013.

Mr. Fallat purchased the shares of the Company in a series of
open-market transactions and funded the purchases with the
personal funds.  The total amount of funds used by Mr. Fallat to
acquire the shares was $699,436.

A copy of the regulatory filing is available at:

                         http://is.gd/3Sy1gj

                    About Greenshift Corporation

Headquartered in New York, GreenShift Corporation develops and
commercializes clean technologies designed to integrate into and
leverage established production and distribution infrastructure to
address the financial and environmental needs of its clients by
decreasing raw material needs, facilitating co-product reuse, and
reducing waste and emissions.

Greenshift Corporation disclosed net income of $2.46 million in
2012, as compared with net income of $7.90 million in 2011.
The Company's balance sheet at June 30, 2013, showed $8.68 million
in total assets, $47.98 million in total liabilities and a $39.29
million total stockholders' deficit.

Rosenberg Rich Baker Berman & Company, in Somerset, NJ, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company had $2,030,577 in cash, and
current liabilities exceeded current assets by $41,087,222 as of
Dec. 31, 2012.  In addition...the Company could be subject to
default of its senior debt obligation in 2013 if a condition to a
forbearance agreement that is not within the Company's control is
not satisfied.  These conditions raise substantial doubt about its
ability to continue as a going concern.


GREENSPUN CORP: Las Vegas Sun at Risk of Folding
------------------------------------------------
Keach Hagey, writing for The Wall Street Journal, reported that a
family battle over the Las Vegas Sun could end with America's
gambling mecca becoming a one-newspaper town.

According to the report, the family owners of the newspaper have
struck a deal with the rival Las Vegas Review-Journal that will
likely force the Sun to fold, according to a lawsuit filed Aug. 19
in federal court in Nevada by Brian Greenspun, the Sun's publisher
and the son of its founder.

Mr. Greenspun's lawsuit seeks to block the deal, which he says was
approved by his younger siblings, on antitrust grounds, the report
said.

The battle has its roots in a 24-year-old joint-operating
agreement between the two newspapers, under which the Review-
Journal prints and sells advertising for the Sun, the report
related.  The agreement was struck in 1989, after the Sun had been
"routinely unprofitable" for years, according to the complaint.
The accord was renegotiated in 2005, when the Sun became an insert
in the Review-Journal.

Since then, the newspaper industry has been hard hit by
competition from the Internet but, in his complaint, Mr. Greenspun
argues that "absent outside influences" neither paper is "in
danger of failing in the near future."

Under a deal stuck Aug. 7, according to the lawsuit, the Sun would
release the Review-Journal from the joint-operating agreement,
leaving the Sun without a way to print or distribute the paper. In
exchange, the Review-Journal's owner, Stephens Media, would give
the Sun's owner, Greenspun Corp., $10 and ownership of the travel
website lasvegas.com.

                 About The Greenspun Corporation

The Greenspun Corporation is a privately owned, family-run company
that manages and oversees the financial interests of the Greenspun
family of Las Vegas, Nevada.  The company operates its own
businesses and invests in public and private securities, primarily
in the media, communications, travel and tourism, real estate and
gaming industries.


GROVES IN LINCOLN: Court Confirms Creditor-Payment Plan
-------------------------------------------------------
Marie Beaudette, writing for DBR Small Cap, reported that a
bankruptcy judge has confirmed the Groves in Lincoln's creditor-
payment plan, which divides up the proceeds of the Massachusetts
senior home's $30 million sale.

                     About Groves in Lincoln

The Groves in Lincoln Inc., along with affiliate The Apartments of
the Grove Inc., sought Chapter 11 protection (Bankr. D. Mass. Case
No. 13-11329) in Boston on March 11, 2013.  David C. Turner signed
the petition as president and CEO.

Groves is a Massachusetts not-for-profit corporation organized in
2006 for the purpose of developing and operating a senior
independent living facility in Lincoln, Massachusetts to be known
as The Groves in Lincoln.  This facility now consists of 168
independent living units on a 34-acre campus with a mix of
apartments, cottages, and related common areas including community
center, dining rooms, lounges, barbershop/beauty salon, library,
fitness center and pool.  Groves has 26 full-time employees and 22
part-time employees as of the bankruptcy filing.

The Debtors tapped Murtha Cullina LLP as counsel, Verdolino &
Lowey, P.C. as accountants and financial advisors, and RBC Capital
Markets LLC as investment banker.

The Official Committee of Unsecured Creditors is represented by
George W. Tetler, III, Esq.


GRUBB & ELLIS: Wash. Appeals Court Affirms Leonard Suit Dismissal
-----------------------------------------------------------------
The Court of Appeals of Washington, Division One, held that Justin
Leonard fails to show that Grubb & Ellis Advisors, Inc. owed him a
duty.  Accordingly, there are no genuine issues of material fact
for trial, and the trial court properly granted summary judgment
dismissing Mr. Leonard's action.

Mr. Leonard sued five defendants for negligence: Grubb & Ellis;
Microsoft Corp.; Otis Elevator, Co.; Puget Sound Energy, Inc.; and
Kone, Inc.  According to the complaint, on July 25, 2007, there
was a power fluctuation at the Microsoft campus in Redmond. This
power interruption caused three "chiller plants," which housed
part of the campus's air regulation system, to shut down briefly.
When the power was restored, all three plants started up at the
same time. The large increase in current overloaded the electrical
system on the campus and blew a fuse. This blown fuse caused power
outages to several buildings on the Microsoft campus including
building 26.

Before the power outage, Mr. Leonard, an employee of Microsoft,
entered an elevator in building 26.  When the power went out, the
elevator's emergency breaks activated.  Mr. Leonard claims to have
been injured when the elevator stopped suddenly.

It appears that Mr. Leonard voluntarily dismissed his claims
against Microsoft and Otis. The trial court granted Kone's and
Puget Sound Energy's motions for summary judgment.

The remaining defendant, Grubb & Ellis, the property managers for
the Microsoft Redmond campus at the time of power disruption,
moved for summary judgment. The trial court granted the motion.

Mr. Leonard appealed the trial court's ruling.

The appellate case is, JUSTIN LEONARD, Appellant, v. GRUBB & ELLIS
EQUITY ADVISORS, PROPERTY MANAGEMENT, INC., a Delaware corporation
doing business in the state of Washington; KONE, INC., a Delaware
corporation doing business in the state of Washington; OTIS
ELEVATOR CO., a New Jersey corporation doing business in the state
of Washington; MICROSOFT CORP., a Washington corporation; PUGET
SOUND ENERGY, INC., a Washington corporation, Respondents, No.
67343-2-I (Wash. App.).

A copy of the Appeals Court's Aug. 19, 2013 ruling is available at
http://is.gd/5fvkIgfrom Leagle.com.

Counsel for Petitioner:

          James R. Walsh, esq.
          Kevin Daniel Anderson, Esq.
          LAW OFFICE OF JAMES R. WALSH
          20201 Cedar Valley Rd. Ste. 140
          PO Box 2028
          Lynnwood, WA 98036

Counsel for Respondent:

          Christine E. Tavares, Esq.
          David E. Chawes, Esq.
          Eric Peter Gillett, Esq.
          PREG O'DONNELL & GILLETT PLLC
          1800 9th Ave Ste 1500
          Seattle, WA 98101-1340
          Tel: (206) 287-1775
          Fax: (206) 287-9113
          E-mail: cet@pregodonnell.com
                  dchawes@pregodonnell.com
                  egillett@pregodonnell.com

                        About Grubb & Ellis

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

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

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

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

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

Approval of the sale was simplified when BGC settled with
unsecured creditors by increasing their recovery.  Grubb & Ellis
Co. was renamed Newmark Grubb Knight Frank following the sale.

Grubb & Ellis filed a liquidating Chapter 11 plan which gives
unsecured creditors an expected recovery between 1.7% and 4.7%.
The Court approved the explanatory disclosure materials in January
2013, and confirmed the Plan on March 6.  The Plan was declared
effective early in April 2013.


HALLWOOD GROUP: Files Form 10-Q, Had $357,000 Net Loss in Q2
------------------------------------------------------------
The Hallwood Group Incorporated filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $357,000 on $32.48 million of textile products sales
for the three months ended June 30, 2013, as compared with a net
loss of $1.22 million on $37.18 million of textile products sales
for the same period during the prior year.

For the six months ended June 30, 2013, the Company incurred a net
loss of $1.70 million on $63.76 million of textile products sales,
as compared with a net loss of $10.77 million on $73.06 million of
textile products sales for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $66.09
million in total assets, $26.59 million in total liabilities and
$39.49 million in total stockholders' equity.

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

                        http://is.gd/ZxBL0h

                        About Hallwood Group

Dallas, Texas-based The Hallwood Group Incorporated (NYSE MKT:
HWG) operates as a holding company.  The Company operates its
principal business in the textile products industry through its
wholly owned subsidiary, Brookwood Companies Incorporated.

Brookwood is an integrated textile firm that develops and produces
innovative fabrics and related products through specialized
finishing, treating and coating processes.

Prior to October 2009, The Hallwood Group Incorporated held an
investment in Hallwood Energy, L.P. ("Hallwood Energy").  Hallwood
Energy was a privately held independent oil and gas limited
partnership and operated as an upstream energy company engaged in
the acquisition, development, exploration, production, and sale of
hydrocarbons, with a primary focus on natural gas assets.  The
Company accounted for the investment in Hallwood Energy using the
equity method of accounting.  Hallwood Energy filed for bankruptcy
in March 2009.  In connection with the confirmation of Hallwood
Energy's bankruptcy in October 2009, the Company's ownership
interest in Hallwood Energy was extinguished and the Company no
longer accounts for the investment in Hallwood Energy using the
equity method of accounting.

Hallwood Group incurred a net loss of $17.94 million in 2012, as
compared with a net loss of $6.33 million in 2011.

Deloitte & Touche LLP, in Dallas, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that
the Company is dependent on its subsidiary to receive the cash
necessary to fund its ongoing operations and obligations.  It is
uncertain whether the subsidiary will be able to make payment of
dividends to its fund ongoing operations.  These conditions raise
substantial doubt about its ability to continue as a going
concern.


HAMPTON ROADS: Posts $89,000 Net Income in Second Quarter
---------------------------------------------------------
Hampton Roads Bankshares, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income attributable to the Company of $89,000 on $19.58
million of total interest income for the three months ended
June 30, 2013, as compared with a net loss attributable to the
Company of $5.66 million on $20.66 million of total interest
income for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported net
income of $2.27 million on $39.11 million of total interest
income, as compared with a net loss of $12.32 million on $42.27
million of total interest income for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $2 billion in
total assets, $1.82 billion in total liabilities and $179.23
million in total shareholders' equity.

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

                        http://is.gd/2T159F

                    Amends $50 Million Prospectus

The Company filed a pre-effective amendment to its registration
statement on Form S-3 relating the offer and sale of the Company's
preferred stock, common stock, warrants, stock purchase contracts,
and units aggregating $50 million.

The Company's common stock is listed on the NASDAQ Global Select
Market under the symbol "HMPR."  The aggregate market value of the
Company's outstanding common equity held by non-affiliates on
Aug. 12, 2013, was $55,586,212 based on 170,263,264 shares of
common stock outstanding, of which 34,101,971 shares were held by
non-affiliates, and a closing price of the Company's common stock
on the NASDAQ Global Select Market on that date of $1.63 per
share.

Other than the common stock, the Company does not have any
securities listed on the NASDAQ Stock Market or any other stock
exchange.

A copy of the amended Form S-3 is available for free at:

                         http://is.gd/tyR4YO

                    About Hampton Roads Bankshares

Hampton Roads Bankshares, Inc. (NASDAQ: HMPR) --
http://www.hamptonroadsbanksharesinc.com/-- is a bank holding
company that was formed in 2001 and is headquartered in Norfolk,
Virginia.  The Company's primary subsidiaries are Bank of Hampton
Roads, which opened for business in 1987, and Shore Bank, which
opened in 1961.  Currently, Bank of Hampton Roads operates twenty-
eight banking offices in the Hampton Roads region of southeastern
Virginia and twenty-four offices in Virginia and North Carolina
doing business as Gateway Bank & Trust Co.  Shore Bank serves the
Eastern Shore of Maryland and Virginia through eight banking
offices and 15 ATMs.

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

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

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


IMH FINANCIAL: Court Approves Settlement with Unitholders
---------------------------------------------------------
Following a settlement hearing held on July 18, 2013, the Court of
Chancery in the State of Delaware entered a Final Order and
Judgment on July 26, 2013, in In re IMH Secured Loan Fund
Unitholders Litigation which was pending against IMH Financial
Corporation, certain affiliated and predecessor entities, and
certain former and current officers and directors of IMH.

The Final Order and Judgment approves the terms of the settlement
of the Litigation with slight modifications, which was
memorialized in a Memorandum of Understanding.  IMH's obligations
under the settlement and Final Order are contingent upon Final
Approval of the settlement.  Final Approval will occur at the
expiration of the period to file appeals or, if any appeal is
filed, upon the final resolution of any appeal.

A copy of the Final Order is available for free at:

                        http://is.gd/FuCq7n

                        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.

IMH Financial disclosed a net loss of $32.19 million in 2012, a
net loss of $35.19 million in in 2011, and a net loss of $117.04
million in 2010.


INSITE WIRELESS: Fitch to Rate $39.6MM Class B Notes at 'BB-'
-------------------------------------------------------------
Fitch Ratings expects to rate InSite Wireless Group, LLC Secured
Cellular Site Revenue Notes, Series 2013-1 and assign Rating
Outlooks as follows:

-- $123,900,000 2013-1 class A 'BBBsf'; Outlook Stable;

-- $39,600,000 2013-1 class B 'BB-sf'; Outlook Stable.

Fitch has issued a presale report on the transaction.

The following class is being issued but is not rated by Fitch:

-- $14,000,000 2013-1 class C.

The expected ratings are based on information provided by the co-
issuers as of Aug. 19, 2013.

The $177.5 million InSite Wireless Group, LLC notes are backed by
mortgages representing approximately 72.7% of the annualized run
rate (ARR) net cash flow (NCF) and guaranteed by the direct parent
of the borrowers. The guarantees are secured by a pledge and
first-priority-perfected security interest in 100% of the equity
interest of the borrowers (which own or lease 512 cellular sites
and own the rights to operate 16 distributed antennae system [DAS]
networks) and the direct parent, respectively.

At closing, loan proceeds will be used to repay certain
outstanding debt obligations and for general corporate purposes.
The ratings reflect a structured finance analysis of the cash
flows from the ownership interest in cellular sites, not an
assessment of the corporate default risk of the ultimate parent,
InSite Wireless Group, LLC.

Key Rating Drivers

High Leverage: Fitch's NCF on the pool is $16.06 million, implying
a Fitch stressed debt service coverage ratio (DSCR) of 1.11x. The
debt multiple relative to Fitch's NCF is 9.47x, which equates to a
debt yield of 10.56%. Given the high amount of total leverage,
Fitch applied a rating cap of 'BBBsf' to the securitization.

Leases to Strong Tower Tenants: There are 1,236 wireless tenant
leases. Telephony/broadband tenants represent 74.8% annualized run
rate revenue (ARRR), and 49.0% of the ARRR is from investment-
grade tenants. Tenant leases on the cellular sites have average
annual escalators of approximately 3.1% and an average final
remaining term (including renewals) of 21.1 years.

DAS Networks: The collateral pool contains 16 DAS networks
representing 11.0% of the ARRR. DAS sites are located within
buildings or other structures or venues for which an asset entity
has rights under a lease or license to install and operate a DAS
on the premises or to manage a DAS network on the premises. Fitch
did not give credit for the four sites where InSite has a
management contract to manage a DAS network owned by the DAS
venue. These sites contribute 0.6% of ARRR. Additionally, Fitch
limited proceeds from the DAS networks to the 'BBsf' category
(i.e. applied a BBsf rating cap), based on the uncertainty
surrounding the licensing agreements in a venue-bankruptcy
scenario and the limited history of these networks.

Prefunding: On the closing date, approximately 14% of total
proceeds ($25.357 million) were deposited into a site acquisition
account to be used by InSite to acquire additional cellular sites
during the 12-month acquisition period. Prefunding introduces
uncertainty as to final collateral characteristics. Fitch
accounted for prefunding by stressing the NCF of the prefunding
component to reflect the most conservative prefunding pool
composition tests.

Rating Sensitivities

Fitch completed a break-even analysis comparing the interest-only
debt service with both the Fitch stressed NCF and in-place
aggregate ARR NCF, derived from data provided by the arranger,
including estimated interest rates. Fitch compared the in-place
aggregate ARR NCF and Fitch NCF with the interest-only debt
service amount and determined that 73.8% and 71.8% reductions in
NCF, respectively, would cause the 'BBBsf' notes to break even at
1.0x DSCR on an interest-only basis. Reductions to in-place
aggregate ARR NCF and Fitch NCF of 44% and 40%, respectively,
would cause the 'BB-sf' notes to break even at 1.0x DSCR on an
interest-only basis.

Fitch evaluated the sensitivity of the 2013-1 class A ratings and
a 14% decline in NCF would result in a one category downgrade to
'BBsf', while a 10% decline would result in a downgrade to below
investment-grade and a 40% decline would result in a downgrade
below 'CCCsf'. Rating sensitivity was also performed for the 2013-
1 class B notes and a 10% decline in NCF would result in a one
category downgrade to 'B-sf', while a 21% decline would result in
a downgrade below 'CCCsf'. The Rating Sensitivity section in the
presale report includes a detailed explanation of additional
stresses and sensitivities.


ILANA INDUSTRIAL: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Ilana Industrial LLC
        911Faile Street a/k/a
        1164 Garrison Ave
        Bronx, NY 10454

Bankruptcy Case No.: 13-12695

Chapter 11 Petition Date: August 19, 2013

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Allan L. Gropper

Debtor's Counsel: David Carlebach, Esq.
                  LAW OFFICES OF DAVID CARLEBACH, ESQ.
                  40 Exchange Place, Suite 1306
                  New York, NY 10005
                  Tel: (212) 785-3041
                  Fax: (646) 355-1916
                  E-mail: david@carlebachlaw.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 Steven Rosenfeld, managing member.


INDEPENDENCE TAX II: Incurs $109,000 Net Loss in June 30 Quarter
----------------------------------------------------------------
Independence Tax Credit Plus L.P. II filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing a net loss of $109,256 on $213,441 of total
revenues for the three months ended June 30, 2013, as compared
with net income of $14.81 million on $198,607 of total revenues
for the same period during the prior year.

As of June 30, 2013, the Company had $2.94 million in total
assets, $16.19 million in total liabilities and a $13.24 million
total partners' deficit.

"At June 30, 2013, the Partnership's liabilities exceeded assets
by $13,249,535 and for the three months ended June 30, 2013, the
Partnership had net loss of ($109,256).  These factors raise
substantial doubt about the Partnership's ability to continue as a
going concern," the Company said in the quarterly report.

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

                         http://is.gd/odPlkD

            About Independence Tax Credit Plus L.P. II

Based in New York, Independence Tax Credit Plus L.P. II was
organized on Feb. 11, 1992, and commenced its public offering on
Jan. 19, 1993.  The general partner of the Partnership is Related
Independence Associates L.P., a Delaware limited partnership.  The
general partner of Related Independence Associates L.P. is Related
Independence Associates Inc., a Delaware Corporation.  The
ultimate parent of Related Independence Associates L.P. is
Centerline Holding Company.

The Partnership's business is primarily to invest in other
partnerships owning leveraged apartment complexes that are
eligible for the low-income housing tax credit enacted in the Tax
Reform Act of 1986, some of which may also be eligible for the
historic rehabilitation tax credit.

The Partnership is in the process of developing a plan to dispose
of all of its investments.


INFINITY ENERGY: Incurs $1.5 Million Net Loss in Second Quarter
---------------------------------------------------------------
Infinity Energy Resources, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing net loss applicable to common shareholders of $1.55
million for the three months ended June 30, 2013, as compared with
a loss applicable to common shareholders of $883,582 for the same
period last year.

For the six months ended June 30, 2013, the Company reported a
loss applicable to common shareholders of $3.70 million as
compared with a loss applicable to common shareholders of $1.34
million for the same period a year ago.

The Company had no revenues in either the three months ended
June 30, 2013, or 2012.  The Company focused solely on the
exploration, development and financing of the Nicaraguan
Concessions.

The Company's balance sheet at June 30, 2013, showed $4.80 million
in total assets, $6.52 million in total liabilities, $14.37
million in redeemable, convertible preferred stock and a $16.09
million total stockholders' deficit.

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

                       http://is.gd/WNK66A

                      About Infinity Energy

Overland Park, Kansas-based Infinity Energy Resources, Inc., and
its subsidiaries, are engaged in the acquisition and exploration
of oil and gas properties offshore Nicaragua in the Caribbean Sea.

Infinity Energy disclosed net income of $2.90 million for the year
ended Dec. 31, 2012, as compared with a net loss of $3.52 million
during the prior year.

EKS&H LLLP, in Denver, Colorado, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that
the Company has suffered recurring losses, has no on-going
operations, and has a significant working capital deficit, which
raises substantial doubt about its ability to continue as a going
concern.


INTELLICELL BIOSCIENCES: Fails to Fund $600,000 in Escrow
---------------------------------------------------------
Ironridge Global IV, Ltd., disclosed in a regulatory filing with
the U.S. Securities and Exchange Commission that Intellicell
Biosciences, Inc., failed to place $600,000 in escrow by Aug. 12,
2013, as ordered by the New York Supreme Court to be held as a
condition of continuing the foreclosure sale.

On Aug. 13, 2013, the Court ordered the issuer to pay to Ironridge
all principal, interest and attorneys' fees due under the note by
Aug. 14, 2013.  If payment is timely received, Ironridge has
agreed to withdraw the notice of foreclosure without prejudice,
reserving all rights and remedies under the loan documents.  If
the Company again fails to make any payment, the foreclosure sale
will proceed at 10:00 am on Thursday, Aug. 15, 2013.  Ironridge
did not provide any update as of press time.

                    About Intellicell Biosciences

Intellicell BioSciences, Inc., headquartered in New York, N.Y.,
was formed on Aug. 13, 2010, under the name "Regen Biosciences,
Inc." as a pioneering regenerative medicine company to develop and
commercialize regenerative medical technologies in large markets
with unmet clinical needs.  On Feb. 17, 2011, the company changed
its name from "Regen Biosciences, Inc." to "IntelliCell
BioSciences Inc".  To date, IntelliCell has developed proprietary
technologies that allow for the efficient and reproducible
separation of stromal vascular fraction (branded
"IntelliCell(TM)") containing adipose stem cells that can be
performed in tissue processing centers and in doctors' offices.

The Company has incurred losses since inception resulting in an
accumulated deficit of $43,079,590 and a working capital deficit
of $3,811,024 as of March 31, 2012, respectively.  However, if the
non-cash expense related to the Company's change in fair value of
derivative liability and stock based compensation is excluded then
the accumulated deficit amounted to $4,121,538.  Further losses
are anticipated in the continued development of its business,
raising substantial doubt about the Company's ability to continue
as a going concern.

The Company's balance sheet at Sept. 30, 2012, showed
$4.15 million in total assets, $7.31 million in total liabilities
and a $3.16 million total stockholders' deficit.


INTERSTATE PROPERTIES: Can Use ANICO Cash Collateral Until Aug. 30
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Georgia, in
a consent order dated Aug. 9, 2013, extended Interstate
Properties, LLC's authority to use cash collateral of American
National Insurance Company ("ANICO") to the earlier of:

   (a) Aug. 30, 2013, at 5:00 p.m.;

   (b) the appointment of a Chapter 11 Trustee or an examiner with
       expanded powers;

   (c) the conversion of the Bankruptcy Case to a case under
       Chapter 7 of the Bankruptcy Code;

   (d) the occurrence and failure to cure an Event of Default
       subject to the notice and cure provisions contained in the
       cash collateral order entered March 27, 2013;

   (e) the entry of an order dismissing the case and such Order
       becoming effective pursuant to its terms;

   (f) the transfer of The Crossings Shopping Center and related
       property either to ANICO or a third party purchaser;

   (g) Debtor's discontinuation of or entry of order to
       discontinue the conduct of its business in the ordinary
       course; or

   (h) further order of the Court terminating Debtor's use of the
       ANICO Cash Collateral.

                    About Interstate Properties

Interstate Properties, LLC, filed a Chapter 11 petition (Bankr.
N.D. Ga. Case No. 12-76037) in Atlanta on Oct. 17, 2012.  Judge
Margaret Murphy presides over the case.  George M. Geeslin, Esq.,
who has an office in Atlanta, Georgia, serves as the Debtor's
bankruptcy counsel.

The Debtor owns and operates, among others, two shopping centers,
one located in Elkview, West Virginia, and one located in Decatur,
Georgia.  In its schedules, as amended, the Debtor disclosed
$73,002,403 in total assets and $62,264,480 in total liabilities.


INTERSTATE PROPERTIES: U.S. Trustee Says Plan Cannot be Confirmed
-----------------------------------------------------------------
Guy G. Gebhardt, Acting United States Trustee for Region 21,
objects to Interstate Properties, LLC's Disclosure Statement and
the Debtor's Plan of Reorganization, citing:

  1. Debtor's Disclosure Statement does not include a clear
     liquidation analysis demonstrating that Debtor's Plan
     provides creditors with value that is not less than what
     creditors would receive in a chapter 7 liquidation.

  2. The Plan fails to provide for payment of all quarterly fees
     due to the United States Trustee on or before the Effective
     Date, in violation of 11 U.S.C. Section 1129(a)(12).

  3. Debtor's Plan and Disclosure Statement fail to provide for
     all claims filed in the case.

  4. Debtor's Plan and Disclosure Statement fail to appropriately
     classify all tax claims as either administrative or priority.
     Additionally, Debtor's Plan fails to provide for interest at
     the statutory rate on all tax claims.

As reported in the TCR on August 9, according to the Disclosure
Statement, funding for the Plan will be sourced from the Debtor's
income from operations and sales.

The Plan is expected to last for a period of twelve (12) months
from the Effective date, during which time the Debtor may hold
auction sales of real estate in order to complete funding of the
Plan.  Also, the Debtor believes that it will be able to refinance
The Crossings Shopping Center prior to the Effective Date and thus
reinstate and pay off American National Insurance Company's
Class 3 claim.

Carter Bank & Trust, owed $47,000,000, will be paid interest in
accordance with its loan documents and out of the proceeds from
any sales of the Debtor's Georgia and Alabama real estate holding.

General Unsecured Claims of $5,000 or greater, owed $855,000, will
be paid in full within twelve (12) months of the Effective Date.
Creditor Brent Scarbrough & Company will receive a note from
Debtor guaranteed by William Abruzzino and by agreement Carter
Bank & Trust may allow payment to Scarbrough & Company from sale
of properties on which it holds a first priority security
interest.  The same may be applicable to creditor Northstar
Engineering.

Class 11 interests of Mr. and Mrs. William Abruzzino in the Debtor
will not be paid anything but will retain their interest in the
Debtor.

A copy of the Disclosure Statement is available at:

     http://bankrupt.com/misc/interstateproperties.doc97.pdf

                    About Interstate Properties

Interstate Properties, LLC, filed a Chapter 11 petition (Bankr.
N.D. Ga. Case No. 12-76037) in Atlanta on Oct. 17, 2012.  Judge
Margaret Murphy presides over the case.  George M. Geeslin, Esq.,
who has an office in Atlanta, Georgia, serves as the Debtor's
bankruptcy counsel.

The Debtor owns and operates, among others, two shopping centers,
one located in Elkview, West Virginia, and one located in Decatur,
Georgia.  In its schedules, as amended, the Debtor disclosed
$73,002,403 in total assets and $62,264,480 in total liabilities.


J.C. PENNEY: Board Adopts "Poison Pill" Plan
--------------------------------------------
Ben Fox Rubin, writing for Dow Jones Newswires, reports that J.C.
Penney Co.'s board adopted a shareholder rights plan intended to
prevent new investors from gaining control of the company, after
William Ackman, its largest shareholder, said this week that he
may exit the struggling retailer.  The rights plan, also known as
a poison pill, is designed to dilute the value of a stock by
flooding the market with additional shares, making it expensive
for an investor to acquire a controlling stake.

According to the Dow Jones report, Penney said the poison pill,
which is in effect for one year, wasn't adopted in response to any
particular effort to acquire control of the company, though the
move comes just after Mr. Ackman, a hedge-fund manager who owns
18% of the company, said he could sell his stock.

According to Dow Jones, the poison pill would kick in if an
investor acquired 10% or more of the company's stock, but the plan
excludes Mr. Ackman's Pershing Square Capital Management LP, as
well as Vornado Realty Trust, so long as those parties' stakes are
permitted under their agreements with the company.  Vornado has
3.9% stake in the company.

Dow Jones says Pershing and Vornado weren't immediately available
for comment.

                          About J.C. Penney

Plano, Texas-based J.C. Penney Company, Inc. is one of the U.S.'s
largest department store operators with about 1,100 locations in
the United States and Puerto Rico.

J.C. Penney disclosed a net loss of $985 million in 2012, as
compared with a net loss of $152 million in 2011.  As of May 4,
2013, the Company had $10.37 billion in total assets,
$7.50 billion in total liabilities and $2.86 billion in total
stockholders' equity.

                            *     *     *

The Company carries Moody's Investors Service's B3 Corporate
Family Rating with negative outlook.

Early in March 2013, Standard & Poor's Ratings Services lowered
its corporate credit rating on Penney to 'CCC+' from 'B-'.  The
outlook is negative.  At the same time, S&P lowered the issue-
level rating on the company's unsecured debt to 'CCC+' from 'B-'
and maintained its '3' recovery rating on this debt, indicating
S&P's expectation of meaningful (50% to 70%) recovery for
debtholders in the event of a payment default.

"The downgrade reflects the performance erosion that has
accelerated throughout the previous year and seems likely to
persist over the next 12 months," explained Standard & Poor's
credit analyst David Kuntz.

At the same time, Fitch Ratings downgraded the Company's Issuer
Default Ratings to 'B-' from 'B'.  The Rating Outlook is Negative.
The rating downgrades reflect Fitch's concerns that there is a
lack of visibility in terms of the Company's ability to stabilize
its business in 2013 and beyond after a precipitous decline in
revenues leading to negative EBITDA of $270 million in 2012.
Penney, Fitch said, will need to tap into additional funding to
cover a projected FCF shortfall of $1.3 billion to $1.5 billion in
2013, which could begin to strain its existing sources of
liquidity.

In February 2013, Penney received a notice of default from a law
firm representing more than 50% of its 7.4% Debentures due 2037.
The Company has filed a lawsuit in Delaware Chancery Court seeking
to block efforts by the bondholder group to declare a default on
the 2037 bonds.  Penney also asked lawyers at Brown Rudnick LLP to
identify the investors they represent.

In March 2013, Penney received a letter from bondholders
withdrawing and rescinding the Notice of Default.

On April 12, 2013, Penney borrowed $850 million out of its $1.85
billion committed revolving credit facility with JPMorgan Chase
Bank, N.A., as Administrative Agent, and Wells Fargo Bank,
National Association, as LC Agent. Penney said the move was to
enhance the Company's financial flexibility and position.


KIWIBOX.COM INC: Delays Form 10-Q for Second Quarter
----------------------------------------------------
Kiwibox.Com, Inc., notified the U.S. Securities and Exchange
Commission that it was not able to complete the required financial
statements for the period ended June 30, 2013, within the
prescribed filing deadline of the Form 10-Q.

                         About Kiwibox.com

New York-based Kiwibox.com, Inc., acquired in the beginning of
2011 Pixunity.de, a photoblog community and launched a U.S.
version of this community in the summer of 2011.  Effective
July 1, 2011, Kiwibox.com, Inc., became the owner of Kwick! -- a
top social network community based in Germany.  Kiwibox.com shares
are freely traded on the bulletin board under the symbol KIWB.OB.

Kiwibox.com disclosed a net loss of $14.01 million on $1.46
million of total net sales for the year ended Dec. 31, 2012, as
compared with a net loss of $5.90 million on $599,615 of total net
sales during the prior year.  The Company's balance sheet at
March 31, 2013, showed $6.81 million in total assets, $26.88
million in total liabilities, all current, and a $20.07 million
total stockholders' impairment.

Rosenberg Rich Baker Berman & Company, in Somerset, New Jersey,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2012.  The
independent auditors noted that the Company's revenues are
insufficient to finance the business, and the Company is entirely
dependent on the continuation of funding from outside investors.
These conditions raise substantial doubt about its ability to
continue as a going concern.


LA CUADRA: Business Plaza Developer in Omaha Files Bankruptcy
-------------------------------------------------------------
Russell Hubbard, writing for the Omaha World-Herald, reports that
La Cuadra Co., the landlord and developer of a Latin-themed
business plaza, filed for Chapter 11 bankruptcy protection last
week, citing debts and assets of more than $1 million, and fewer
than 50 creditors.

The report notes the plaza, at 33rd and Q Streets, began to rise
in 2006, on top of a dilapidated corner strewn with trash and
abandoned auto tires.  The first phase of the $1.5 million
development attracted a Mexican grocery, a taco shop and other
businesses.

The report relates Omaha contributed $315,000 in tax-increment
financing for initial construction.  TIF subsidizes urban projects
based upon expectations for new property-tax revenue.

"We are continuing to operate in the normal course of business,"
said Kathryn Derr, Esq. -- sbrower@berkshire-law.com -- La
Cuadra's bankruptcy attorney for the Omaha firm Berkshire &
Burmeister.


LAKE DEARBORN: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Lake Dearborn, LLC
        182 W. Lake Street, Suite 200
        Chicago, IL 60601

Bankruptcy Case No.: 13-12113

Affiliates that simultaneously filed Chapter 11 petitions:

     Debtor                      Case No.
     ------                      --------
La Salle Commercial, LLC         13-12114
800 South Wells Phase II, LLC    13-12115
Dearborn Residential, LLC        13-12116
Dearborn Retail, LLC             13-12117
DR Dearborn Investment, LLC      13-12118

Chapter 11 Petition Date: August 19, 2013

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Mary F. Walrath

Debtor's Counsel: Matthew P. Ward, Esq.
                  WOMBLE CARLYLE SANDRIDGE & RICE, LLP
                  222 Delaware Avenue, Suite 1501
                  Wilmington, DE 19801
                  Tel: (302) 252-4338
                  Fax: (302) 661-7711
                  E-mail: maward@wcsr.com

Lake Dearborn's
Estimated Assets: $1,000,001 to $10,000,000

Lake Dearborn's
Estimated Debts: $0 to $50,000

A copy of the Debtors' consolidated list of their 20 largest
unsecured creditors, filed together with the petition, is
available for free at http://bankrupt.com/misc/deb13-12113.pdf

The petitions were signed by Nicholas S. Gouletas, authorized
officer.


LLS AMERICA: District Judge Accepts "Ponzi Scheme" Findings
-----------------------------------------------------------
Chief District Judge Rosanna Malouf Peterson on Monday issued an
order adopting the Report and Recommendation of Bankruptcy Judge
Patricia C. Williams concluding that LLS America LLC was operating
a Ponzi scheme.  Judge Peterson also held that the Bankruptcy
Court was correct in striking a deposition by Marie Rice.  A copy
of the District Judge's Aug. 19 Order is available at
http://is.gd/pFF5sifrom Leagle.com.

                     About Little Loan Shoppe

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

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

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

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


LLS AMERICA: Bankruptcy Judge Recommends Judgment Against Geib
--------------------------------------------------------------
In her Report and Recommendation dated Aug. 20, Bankruptcy Judge
Patricia C. Williams recommends that the motion for entry of
default judgment sought by Bruce P. Kriegman, solely in his
capacity as court-appointed Chapter 11 Trustee for LLS America
LLC, be granted against Dartanali Geib.  The ruling states that:

     1. Monetary Judgment in the amount of C$34,312.50, pursuant
        to 11 U.S.C. Sec. 550 and RCW 19.40.071;

     2. Transfers in the amount of C$7,875.00 made to the
        Defendant within four years prior to the Petition Filing
        Date are avoided and Plaintiff may take all necessary
        action to preserve the same, pursuant to 11 U.S.C.
        Sections 544, 550, 551 and 548(a) and (b) and RCW
        19.40.041(1) and (2) and RCW 19.40.071;

     3. Transfers in the amount of C$26,437.50 made to the
        Defendant more than four years prior to the Petition
        Filing Date should be avoided and Plaintiff should be
        authorized to take all necessary action to preserve the
        same, pursuant to 11 U.S.C. Sections 544, 550 and 551 and
        RCW 19.40.041(1) and 19.40.071;

     4. All transfers to Defendant Dartanali Geib are set aside
        and Plaintiff shall be entitled to recover the same, or
        the value thereof, from Defendant Dartanali Geib for the
        benefit of the estate of LLS America, pursuant to 11
        U.S.C. Sections 544, 550 and 551;

     5. A constructive trust is established over the proceeds
        of all transfers in favor of the Trustee for the benefit
        of the estate of LLS America; and

     6. Plaintiff is awarded costs (i.e. filing fee) in the amount
        of $250.00 USD, for a total judgment of C$34,312.50, plus
        $250 USD, which shall bear interest equal to the weekly
        average of one-year constant maturity (nominal) treasury
        yield as published by the Federal Reserve System.

A copy of the Court's August 20, 2013 Report and Recommendation is
available at http://is.gd/em3PLVfrom Leagle.com.

                     About Little Loan Shoppe

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

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

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

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


LLS AMERICA: Bankruptcy Judge Recommends Judgment Against Peters
----------------------------------------------------------------
In her Report and Recommendation dated Aug. 20, Bankruptcy Judge
Patricia C. Williams recommends that the motion for entry of
default judgment sought by Bruce P. Kriegman, solely in his
capacity as court-appointed Chapter 11 Trustee for LLS America
LLC, be granted against Abe Peters and Anne Peters.  The ruling
states that:

     1. Monetary Judgment in the amount of C$17,200.00, pursuant
        to 11 U.S.C. Sec. 550 and RCW 19.40.071;

     2. Transfers in the amount of C$17,200.00 made to the
        Defendants within four years prior to the Petition Filing
        Date are avoided and Plaintiff may take all necessary
        action to preserve the same, pursuant to 11 U.S.C.
        Sections 544, 550, 551 and 548(a) and (b) and RCW
        19.40.041(1) and (2) and RCW 19.40.071;

     3. All transfers to Defendants Abe and Anne Peters are
        set aside and Plaintiff shall be entitled to recover the
        same, or the value thereof, from Defendants Abe and Anne
        Peters for the benefit of the estate of LLS America,
        pursuant to 11 U.S.C. Sections 544, 550 and 551;

     4. A constructive trust is established over the proceeds of
        all transfers in favor of the Trustee for the benefit of
        the estate of LLS America; and

     4. Plaintiff is awarded costs (i.e. filing fee) in the amount
        of $250.00 USD, for a total judgment of C$17,200.00, plus
        $250 USD, which shall bear interest equal to the weekly
        average of one-year constant maturity (nominal) treasury
        yield as published by the Federal Reserve System.

A copy of the Court's August 20, 2013 Report and Recommendation is
available at http://is.gd/5wpnTXfrom Leagle.com.

                     About Little Loan Shoppe

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

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

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

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


LLS AMERICA: Bankruptcy Judge Recommends Judgment Against Bogdan
----------------------------------------------------------------
In her Report and Recommendation dated Aug. 20, Bankruptcy Judge
Patricia C. Williams recommends that the motion for entry of
default judgment sought by Bruce P. Kriegman, solely in his
capacity as court-appointed Chapter 11 Trustee for LLS America
LLC, be granted against Blazena Bogdan.  The ruling states that:

     1. Monetary Judgment in the amount of C$142,531.37, pursuant
        to 11 U.S.C. Sec. 550 and RCW 19.40.071;

     2. Transfers in the amount of C$85,923.32 made to the
        Defendant within four years prior to the Petition
        Filing Date are avoided and the Plaintiff may take
        all necessary action to preserve the same, pursuant to
        11 U.S.C. Sec. 544, 550, 551 and 548(a) and (b) and
        RCW 19.40.041(1) and (2) and RCW 19.40.071;

     3. Transfers in the amount of C$56,608.05 made to the
        Defendant more than four years prior to the Petition
        Filing Date should be avoided and the Plaintiff should
        be authorized to take all necessary action to preserve the
        same, pursuant to 11 U.S.C. Sections 544, 550 and 551 and
        RCW 19.40.041(1) and 19.40.071;

     4. All the transfers to Defendant Blazena Bogdan are set
        aside and the Plaintiff will be entitled to recover
        the same, or the value thereof, from Defendant Blazena
        Bogdan for the benefit of the estate of LLS America,
        pursuant to 11 U.S.C. Sections 544, 550 and 551;

     5. All proofs of claim of the Defendant which have been filed
        or brought or which may hereafter be filed or brought by,
        on behalf of, or for the benefit of Defendant Blazena
        Bogdan or any affiliated entities, against the Debtor's
        estate, in this bankruptcy or related bankruptcy
        proceedings, are disallowed and subordinated to the
        monetary judgment granted and Defendant Blazena Bogdan
        shall not be entitled to collect on her proofs of claim
        (Claim Nos. 60-1 and 477-1) until the monetary judgment is
        satisfied by Defendant Blazena Bogdan in full, pursuant to
        11 U.S.C. Sections 502(d), 510(c)(1) and 105(a);

     6. A constructive trust is hereby established over the
        proceeds of all transfers in favor of the Trustee for the
        benefit of the estate of LLS America; and

     7. The Plaintiff is awarded costs (i.e. filing fee) in the
        amount of $250.00 USD, for a total judgment of
        C$142,531.37, plus $250.00 USD, which shall bear interest
        equal to the weekly average of one-year constant maturity
        (nominal) treasury yield as published by the Federal
        Reserve System.

A copy of the Court's Aug. 20, 2013 Report and Recommendation is
available at http://is.gd/oI60effrom Leagle.com.

                     About Little Loan Shoppe

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

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

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

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


MOBILESMITH INC: Incurs $23.2 Million Net Loss in Second Quarter
----------------------------------------------------------------
Mobilesmith, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $23.25 million on $60,753 of revenue for the three months ended
June 30, 2013, as compared with a net loss of $1.04 million on
$31,847 of revenue for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $24.68 million on $125,208 of revenue, as compared with a
net loss of $2.10 million on $64,923 of revenue for the same
period a year ago.

The Company's balance sheet at June 30, 2013, showed $1.52 million
in total assets, $31.12 million in total liabilities and a $29.59
million total stockholders' deficit.

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

                         http://is.gd/3HhAvz

                           About MobileSmith

MobileSmith, Inc. (formerly, Smart Online, Inc.) was incorporated
in the State of Delaware in 1993.  The Company changed its name to
MobileSmith, Inc., effective July 1, 2013.  The Company develops
and markets software products and services tailored to users of
mobile devices.  The Company's flagship product is The
MobileSmithTM Platform.  The MobileSmithTM Platform is an
innovative, patents pending mobile app development platform that
enables organizations to rapidly create, deploy, and manage
custom, native smartphone apps deliverable across iOS and Android
mobile platforms.

Smart Online disclosed a net loss of $4.39 million in 2012, as
compared with a net loss of $3.54 million in 2011.

Cherry Bekaert LLP, in Raleigh, North Carolina, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has suffered recurring losses from operations and
has a working capital deficiency as of Dec. 31, 2012, which
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


MOOD MEDIA: Moody's Revises Outlook on B2 CFR to Developing
-----------------------------------------------------------
Moody's Investors Service changed Mood Media Corporation's outlook
to developing from stable based on the recent announcement that
the company has received non-binding expressions of interest for a
possible sale of the company. The company's B2 corporate family
rating, B2-PD probability of default rating, Ba2 senior secured
credit facility rating, and B3 senior unsecured notes ratings were
affirmed, as was the company's SGL-2 (good) speculative grade
liquidity rating.

On April 4, 2013, Mood Media's Board of Directors and senior
management team initiated a process to identify strategic
alternatives to enhance shareholder value, which included a
possible sale of the company. On August 14, 2013, management
announced that they have received non-binding expressions of
interest from a third party on a potential sale of the company.
Management expects the matter to be resolved by the end of the
third quarter.

Issuer: Mood Media Corporation

Outlook Actions:

Outlook, Changed To Developing From Stable

Affirmations:

Corporate Family Rating, Affirmed at B2

Probability of Default Rating, Affirmed at B2-PD

Speculative Grade Liquidity Rating, Affirmed at SGL-2

Senior Secured Bank Credit Facility May 6, 2016, Affirmed at Ba2
(LGD2, 13%)

Senior Secured Bank Credit Facility May 6, 2018, Affirmed at Ba2
(LGD2, 13%)

Senior Unsecured Regular Bond/Debenture Oct 15, 2020, Affirmed at
B3 with LGD Assessment revised to (LGD4, 69%) from (LGD5, 73%)

Ratings Rationale:

Mood Media's B2 CFR is influenced primarily by an aggressive
acquisition-based growth strategy and related elevated leverage
and low coverage measures. Along with execution risks related to
the business integrations, Mood Media's limited operating history
causes uncertainty that leverage and coverage will improve over
time. There are also risks that new competitors or alternative
delivery mechanisms could disrupt Mood Media's plans to expand its
audio and visual based branding services. As a Canadian issuer
with international operations, the timely and tax-effective
repatriation of cash flow may be challenging. The rating is
supported by the company's leading position as a branding services
company, its royalty-free music library which helps to contain
costs, broad customer diversification, low capital intensity and
reasonable growth prospects. The company's liquidity profile is
also a positive feature.

Rating Outlook

The developing outlook reflects uncertainty stemming from Mood
Media's ongoing process to identify strategic alternatives to
enhance shareholder value, which may include a sale of the
company.

What Could Change the Rating - Up?

Abstracting from potential strategic alternatives, should the
business model stabilize and should free cash flow be used to
repay debt, positive outlook and ratings actions would be
considered if Moody's expected the Debt/EBITDA to be sustained
below 3.5x with FCF/Debt of no worse than 7.5%. Given the
company's ongoing strategic assessment, a ratings upgrade is
unlikely.

What Could Change the Rating - Down?

Abstracting from potential strategic alternatives, were
Debt/EBITDA to increase beyond 5.0x, adverse outlook and ratings
pressure would result. The company's ongoing strategic assessment
may result in a wide range of other matters causing negative
ratings actions.

Headquartered in Toronto, Canada, Mood Media Corporation provides
in-store subscription services using primarily audio and visual to
assist with defining a business or its customers' experience to
retail companies in Canada (1% of revenue), United States (60% of
revenue), and internationally (39% of revenue).

The principal methodology used in this rating was the Global
Broadcast and Advertising Related Industries Methodology published
in May 2012. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.


MONTREAL MAINE: Bernstein Shur's Keach Named Chapter 11 Trustee
---------------------------------------------------------------
Whit Richardson, writing for Bangor Daily News, reports that the
U.S. Trustees Office on Wednesday named Robert Keach, an attorney
at Bernstein Shur in Portland, as trustee of the Montreal, Maine
and Atlantic Railway as the company works through its bankruptcy
proceedings.

Reached on Thursday, Mr. Keach told Bangor Daily that the last few
days have been a whirlwind process of delving into the company's
finances, assets and prospects for sale.

"We're in the middle of gathering a lot of factual information
very quickly," Mr. Keach said, adding that the process began
before he was officially chosen on Wednesday, Bangor Daily
reports.  The process began when the Department of Transportation
put him on a list of five names, which was sent to the U.S.
Trustees Office, which has oversight responsibility for all
bankruptcy cases in the United States.

Mr. Keach is co-chairman of Bernstein Shur's Business
Restructuring and Insolvency Practice Group. He has been
practicing bankruptcy law for 30 years and is a past chairman of
the American Bankruptcy Institute's board of directors.

He may be reached at:

          Robert J. Keach, Esq.
          BERNSTEIN, SHUR, SAWYER & NELSON, P.A.
          100 Middle Street
          PO Box 9729
          Portland, ME 04104-5029
          E-mail: rkeach@bernsteinshur.com

             About Montreal, Maine & Atlantic Railway

Montreal, Maine & Atlantic Railway Ltd., the railway company that
operated the train that derailed and exploded in July 2013,
killing 47 people and destroying part of Lac-Megantic, Quebec,
sought bankruptcy protection in U.S. Bankruptcy Court in Bangor,
Maine (Case No. 13-10670) on Aug. 7, 2013, with the aim of selling
its business.  Its Canadian counterpart, Montreal, Maine &
Atlantic Canada Co., meanwhile, filed for protection from
creditors in Superior Court of Quebec in Montreal.

U.S. Bankruptcy Judge Louis H. Kornreich has been assigned to the
U.S. case.  The Maine law firm of Verrill Dana serves as counsel
to MM&A.

Justice Martin Castonguay oversees the case in Canada.


MOUNTAIN PROVINCE: Updates on Tuzo Mineral Resource Estimate
------------------------------------------------------------
Mountain Province Diamonds Inc. filed with the U.S. Securities and
Exchange Commission a report dated Aug. 13, 2013, entitled "Update
of the Mineral Resource Estimate for the Tuzo Kimberlite, Gahcho
Kue Project, Northwest Territories, Canada: NI 43-101 Techical
Report".  A copy of the Report is available for free at:

                         http://is.gd/MDLBNg

                       About Mountain Province

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

Mountain Province disclosed a net loss of C$3.33 million for the
year ended Dec. 31, 2012, a net loss of C$11.53 million in 2011,
and a net loss of C$14.53 million in 2010.

"The Company's primary mineral asset is in the exploration and
evaluation stage and, as a result, the Company has no source of
revenues.  In each of the years December 31, 2012, 2011 and 2010,
the Company incurred losses, and had negative cash flows from
operating activities, and will be required to obtain additional
sources of financing to complete its business plans going into the
future.  Although the Company had working capital of $46,653,539
at December 31, 2012, including $47,693,693 of cash and cash
equivalents and short-term investments, the Company has
insufficient capital to finance its operations and the Company?s
costs of the Gahcho Kue Project (Note 7) over the next 12 months.
The Company is currently investigating various sources of
additional funding to increase the cash balances required for
ongoing operations over the foreseeable future.  These additional
sources include, but are not limited to, share offerings, private
placements, credit and debt facilities, as well as the exercise of
outstanding options.  However, there is no certainty that the
Company will be able to obtain financing from any of those
sources.  These conditions indicate the existence of a material
uncertainty that results in substantial doubt as to the Company's
ability to continue as a going concern," according to the
Company's annual report for the period ended Dec. 31, 2012.


MTS GOLF: Has Final OK to Increased Existing Financing to $2-Mil.
-----------------------------------------------------------------
On Aug. 8, 2013, the U.S. Bankruptcy Court for the District of
Arizona entered a final order authorizing MTS Golf, LLC, and
MTS Land, LLC, to increase the amount of their existing
postpetition financing to $2,000,000 and extending the maturity
date through the earlier of Dec. 31, 2013, or the effective date
of a plan of reorganization.

The Debtors were previously authorized by the Court to enter into
a Loan Agreement dated Aug. 6, 2012, by and among Debtors and
Jaime Sohacheski and executing a promissory note for $1,080,000
and any related documents and granting the DIP Lender an
administrative expense pursuant to Section 364(b).  The DIP Loan
was authorized by the Court in an interim order on Sept. 17, 2012,
and by the final DIP Financing Order on Dec. 14, 2012.

All the other terms of the DIP Financing Order will remain the
same.

                          About MTS Land

MTS Land, LLC, and MTS Golf, LLC, own and operate the now dormant
Mountain Shadows Golf Club.  They filed separate Chapter 11
petitions (Bankr. D. Ariz. Case Nos. 12-16257 and 12-16257) in
Phoenix on July 19, 2012.  Mountain Shadows Golf Club --
http://www.mountainshadowsgolfclub.com/-- is an 18 hole, par 56
course located at Paradise Valley.  Nestled in the foothills of
Camelback Mountain, the 3,081-yard Executive course claims to be
one of the most scenic golf courses in Arizona.  MTS Land and MTS
Golf are affiliates of Irvine, Cal.-based Crown Realty &
Development Inc.  MTS Land and MTS Golf each estimated assets and
debts of $10 million to $50 million.

Judge Charles G. Case II oversees the Debtors' cases.  Gerald M.
Gordon, Esq., Robert C. Warnicke, Esq., and Teresa M. Pilatowicz,
Esq., at Gordon Silver, represent the Debtor.  The petition was
signed by Robert A. Flaxman, administrative agent.

Lender U.S. Bank is represented by Steven D. Jerome, Esq., and
Evans O'Brien, Esq., at Snell & Wilmer L.L.P.

The Plan filed in the Debtors' cases provides that all creditors
with allowed claims will be paid the amount of their allowed
claims in full through the Plan.  Holders of equity securities of
Debtors will retain all of their legal interests.

The U.S. Trustee for Region 14 advised the Court that an official
committee of unsecured creditors has not been appointed because an
insufficient number of persons holding unsecured claims against
the Debtors have expressed interest in serving on a committee.
The U.S. Trustee reserves the right to appoint a committee if
interest develop among the creditors.


MUSCLEPHARM CORP: Incurs $2.4 Million Net Loss in Second Quarter
----------------------------------------------------------------
Musclepharm Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $2.42 million on $25.48 million of net sales for the
three months ended June 30, 2013, as compared with net income of
$6.18 million on $15.42 million of net sales for the same period
during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $9.78 million on $48.04 million of net sales, as compared
with a net loss of $9.85 million on $31.99 million of net sales
for the same period last year.

The Company's balance sheet at June 30, 2013, showed $23.25
million in total assets, $10.64 million in total liabilities and
$12.61 million in total stockholders' equity.

Commenting on the results, Brad Pyatt, MusclePharm's founder &
CEO, stated, "We continue to record robust sales growth on both a
year-over-year and sequential basis.  The results are consistent
with our near term strategic focus of aggressively growing sales
and increasing brand awareness."

Mr. Pyatt continued, "Given our recently announced deals with
Arnold Schwarzenegger and Costco, as well as the ramp of our new
FitMissTM women's line of supplements, we believe that our strong
sales growth will continue in both the second half of 2013 and
throughout 2014.  We remain on track to meet our previous guidance
for gross revenue to exceed $100 million in 2013."

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

                         http://is.gd/UEyeTX

                         About MusclePharm

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

The Company reported a net loss of $23.28 million in 2011,
compared with a net loss of $19.56 million in 2010.

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


NATIONAL HOLDINGS: Posts $805,000 Net Income in June 30 Quarter
---------------------------------------------------------------
National Holdings Corporation reported net income of $805,000 on
$32.66 million of total revenues for the three months ended
June 30, 2013, as compared with net income of $661,000 on $31.09
million of total revenues for the same period during the prior
year.

For the nine months ended June 30, 2013, the Company reported net
income of $1.25 million on $92.05 million of total revenues, as
compared with a net loss of $2.11 million on $89.69 million of
total revenues for the same period during the prior year.

The Company's balance sheet at June 30, 2013, showed $23.43
million in total assets, $11.81 million in total liabilities and
$11.62 million in total stockholders' equity.

Mark D. Klein, National Holdings' chief executive officer and co-
executive chairman, commented, "We achieved revenue growth of
approximately 5%, net income of $0.8 million and our sixth
consecutive quarter of EBITDA.  The Company's strong performance
supports our ongoing business strategy focused on enhancing
revenues and improving profitability through shifting to higher
margin products and reducing costs.  We also signed a definitive
agreement to acquire Gilman Ciocia, which we expect to increase
our retail brokerage operations to more than 825 registered
representatives and expand our products and service offerings.
Looking back on a pro forma trailing twelve-month basis, our
combined revenues would have been approximately 31% higher with a
significantly enhanced adjusted EBITDA.  With ample cash and no
debt, we remain well positioned financially as we execute our
strategy to further expand our business across the retail
brokerage, investment banking and institutional sales and market
making platforms."

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

                        http://is.gd/QFC5vg

                       About National Holdings

New York, N.Y.-based National Holdings Corporation is a financial
services organization, operating primarily through its wholly
owned subsidiaries, National Securities Corporation, Finance
Investments, Inc., and EquityStation, Inc.  The Broker-Dealer
Subsidiaries conduct a national securities brokerage business
through their main offices in New York, New York, Boca Raton,
Florida, and Seattle, Washington.

The Company incurred a net loss of $1.93 million for the year
ended Sept. 30, 2012, compared with a net loss of $4.71 million
during the prior year.  The Company's balance sheet at March 31,
2013, showed $23.85 million in total assets, $12.88 million in
total liabilities and $10.97 million in total stockholders'
equity.

Sherb & Co., LLP, in Boca Raton, Florida, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Sept. 30, 2012.  The independent auditors noted that
the Company has incurred significant losses and has a working
capital deficit as of Sept. 30, 2012, that raise substantial doubt
about the Company's ability to continue as a going concern.

                         Bankruptcy Warning

"Our independent public accounting firm has issued an opinion on
our consolidated financial statements that states that the
consolidated financial statements were prepared assuming we will
continue as a going concern and further states that our recurring
losses from operations, stockholders' deficit and inability to
generate sufficient cash flow to meet our obligations and sustain
our operations raise substantial doubt about our ability to
continue as a going concern.  Our future is dependent on our
ability to sustain profitability and obtain additional financing.
If we fail to do so for any reason, we would not be able to
continue as a going concern and could potentially be forced to
seek relief through a filing under the U.S. Bankruptcy Code."


NORD RESOURCES: Incurs $2 Million Net Loss in Second Quarter
------------------------------------------------------------
Nord Resources Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $2.02 million on $1.39 million of net sales for the
three months ended June 30, 2013, as compared with a net loss of
$2.39 million on $2.01 million of net sales for the same period
during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $4.17 million on $3.11 million of net sales, as compared
with a net loss of $4.90 million on $4.39 million of net sales for
the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $49.66
million in total assets, $71.76 million in total liabilities and a
$22.10 million total stockholders' deficit.

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

                        http://is.gd/4bUaSZ

                        About Nord Resources

Based in Tuczon, Arizona, Nord Resources Corporation
(TSX:NRD/OTCBB:NRDS.OB) -- http://www.nordresources.com/-- is a
copper mining company whose primary asset is the Johnson Camp
Mine, located approximately 65 miles east of Tucson, Arizona.
Nord commenced mining new ore in February 2009.

On June 2, 2010, Nord Resources appointed FTI Consulting to advise
on refinancing structures and strategic alternatives.

Nord Resources disclosed a net loss of $10.25 million on $8.14
million of net sales for the year ended Dec. 31, 2012, as compared
with a net loss of $10.31 million on $14.48 million of net sales
in 2011.

"The results for 2012 continued to reflect the effects of the
measures that Nord implemented beginning in July 2010 to reduce
our costs, maximize cash flow, and improve operating
efficiencies," said Wayne Morrison, chief executive and chief
financial officer.

Mayer Hoffman McCann P.C., in Denver, Colorado, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company reported net losses of ($10,254,344) and
($10,316,294) during the years ended Dec. 31, 2012, and 2011,
respectively.  In addition, as of Dec. 31, 2012 and 2011, the
Company reported a deficit in net working capital of ($57,999,677)
and ($51,783,180), respectively.  The Company's significant
historical operating losses, lack of liquidity, and inability to
make the requisite principal and interest payments due under the
terms of the Amended and Restated Credit Agreement with its senior
lender raise substantial doubt about its ability to continue as a
going concern.

                        Bankruptcy Warning

"The Company's continuation as a going concern is dependent upon
its ability to refinance the obligations under the Credit
Agreement with Nedbank, the Copper Hedge Agreement with Nedbank
Capital, and the note payable with Fisher, thereby curing the
current state of default under the respective agreements.  Any
actions by Nedbank, Nedbank Capital or Fisher Industries to
enforce their respective rights could force us into bankruptcy or
liquidation," according to the Company's annual report for the
period ended Dec. 31, 2012.


NORTHERN BEEF: Hearing on Financing Bid Cancelled
-------------------------------------------------
The Associated Press reports that a planned hearing on Northern
Beef Packers LP's request to obtain secured credit is off the
calendar.

AP notes that Bankruptcy Judge Charles Nail in Sioux Falls, South
Dakota, had denied Northern Beef Packers' plan for postpetition
financing and continued the hearing to Thursday, Aug. 22.
However, Northern Beef withdrew its motion last week.

A new hearing date has not been set.

AP also relates Judge Nail has extended the time for Northern Beef
to pay utility deposits to next Monday.

As reported by the Troubled Company Reporter, White Oak Global
Advisors, an investment company that loaned Northern Beef Packers
$35 million in September, said earlier this month that the Company
has no cash and a quick sale is needed to preserve the value of
the beef processing facility.

Northern Beef Packers Limited Partnership filed a Chapter 11
petition (Bankr. D.S.D. Case No. 13-10118) on July 19, 2013.  The
Karl Wagner signed the petition as chief financial officer.  Judge
Charles L. Nail, Jr., presides over the case.  The Debtor
estimated assets of at least $50 million and debts of at least
$10 million.  James M. Cremer, Esq., at Bantz, Gosch, & Cremer,
L.L.C., serves at the Debtor's counsel.


NORTHERN BEEF: Can Employ Bantz Gosch as Counsel
------------------------------------------------
The U.S. Bankruptcy Court for the District of South Dakota
authorized Northern Beef Packers Limited Partnership to employ
Bantz, Gosch & Cremer, L.L.C., as counsel for the Debtor.

Northern Beef Packers Limited Partnership, which operates a beef
processing facility that opened in October 2012, filed for
Chapter 11 relief (Bankr. D.S.D. Case No. 13-10118) on July 19,
2013.  Karl Wagner signed the petition as chief financial officer.
Judge Charles L. Nail, Jr., presides over the case.  The Debtor
estimated assets of at least $50 million and debts of at least
$10 million.  James M. Cremer, Esq., at Bantz, Gosch, & Cremer,
L.L.C., serves at the Debtor's counsel.  Cozen O'Connor serves as
co-counsel.


NORTHERN BEEF: Withdraws Motion for DIP Financing
-------------------------------------------------
Northern Beef Packers Limited Partnership has withdrawn its motion
for interim and final orders authorizing: (A) secured post-
petition financing on a superpriority basis pursuant to 11 U.S.C.
Sec. 364, and (B) use of cash collateral pursuant to 11 U.S.C.
Sec. 363.

On August 8, the Bankruptcy Court denied the Debtor's request for
preliminary authority to obtain secured credit and to use cash
collateral.

Northern Beef Packers Limited Partnership, which operates a beef
processing facility that opened in October 2012, filed for
Chapter 11 relief (Bankr. D.S.D. Case No. 13-10118) on July 19,
2013.  Karl Wagner signed the petition as chief financial officer.
Judge Charles L. Nail, Jr., presides over the case.  The Debtor
estimated assets of at least $50 million and debts of at least
$10 million.  James M. Cremer, Esq., at Bantz, Gosch, & Cremer,
L.L.C., serves at the Debtor's counsel.  Cozen O'Connor serves as
co-counsel.


NORTHERN BEEF: U.S. Trustee Forms 5-Member Creditors Committee
--------------------------------------------------------------
Daniel M. McDermott, the U.S. Trustee for Region 12, has appointed
the following persons or entities to the Official Committee of
Unsecured Creditors of Northern Beef Packers Limited Partnership:

  1. Northwestern Corporation
     d/b/a, Northwestern Energy
     c/o Kendall Kliener
     3010 W. 69th Street
     Sioux Falls, SD 97108
     Tel: (605) 978-2806

  2. Sealed Air Corporation - Cryovac
     c/o Michael Wallace
     P.O. Box 464
     Duncan, SC 29334
     Tel: (864) 433-2465

  3. Institute for Environmental Health, Inc.
     c/o Mary Ogborn
     15300 Bothell Way NE
     Lake Forest Park, WA 98155-7634
     Tel: (206)522-5432

  4. Woo Song International
     c/o Chang Ki Yeo
     962-1 Shingung-4 Dong
     Yangcheon?gu Seoul, South Korea
     Tel: 82-10-3505-12111

  5. Quality Value Excellent Sanitation Team, LLC
     c/o Maralyn Stallbaumer
     1101 8th Street
     P.O. Box 1147
     Greeley, CO 80631
     Tel: (970) 356-2990

Northern Beef Packers Limited Partnership, which operates a beef
processing facility that opened in October 2012, filed for
Chapter 11 relief (Bankr. D.S.D. Case No. 13-10118) on July 19,
2013.  Karl Wagner signed the petition as chief financial officer.
Judge Charles L. Nail, Jr., presides over the case.  The Debtor
estimated assets of at least $50 million and debts of at least
$10 million.  James M. Cremer, Esq., at Bantz, Gosch, & Cremer,
L.L.C., serves at the Debtor's counsel.  Cozen O'Connor serves as
co-counsel.


NORTHERN BEEF: Can Employ Cozen O'Connor as Attorneys
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of South Dakota
authorized Northern Beef Packers Limited Partnership to employ
Cozen O'Connor as co-counsel for the Debtor.

Northern Beef Packers Limited Partnership, which operates a beef
processing facility that opened in October 2012, filed for Chapter
11 relief (Bankr. D.S.D. Case No. 13-10118) on July 19, 2013.
Karl Wagner signed the petition as chief financial officer.  Judge
Charles L. Nail, Jr., presides over the case.  The Debtor
estimated assets of at least $50 million and debts of at least
$10 million.  James M. Cremer, Esq., at Bantz, Gosch, & Cremer,
L.L.C., serves at the Debtor's counsel.  Cozen O'Connor serves as
co-counsel.


OIL PATCH: Sec. 341(a) Creditors' Meeting Slated for Sept. 12
-------------------------------------------------------------
A meeting of creditors in the bankruptcy case of Oil Patch Brazos
Valley, Inc. will be held on Sept. 12, 2013, at 10:00 a.m., at
Houston, 515 Rusk Suite 3401.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Meanwhile, creditors' proofs of claim are due December 11, 2013.

                         About Oil Patch

Angleton, Texas-based Oil Patch Brazos Valley, Inc., sought
protection under Chapter 11 of the Bankruptcy Code on July 2,
2013.  The case, assigned Case No. 13-34177, is pending before the
U.S. Bankruptcy Court Southern District of Texas (Houston).  Judge
Jeff Bohm presides over the case.

Matthew Scott Okin, Esq., at Okin & Adams LLP, in Houston, Texas,
represents the Debtor as counsel. The Debtor tapped James Childs,
LLC as financial advisor.

The Debtor disclosed $16,887,969 in assets and $15,313,489 in
liabilities as of the Chapter 11 filing.

The petition was signed by Wright Gore, III, chief operating
officer.

No trustee or creditors committee has been appointed in the case.


OLD SECOND: Files Form 10-Q, Posts $3.5 Million Net Income in Q2
----------------------------------------------------------------
Old Second Bancorp, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $3.47 million on $16.93 million of total interest
and dividend income for the three months ended June 30, 2013, as
compared with net income of $1.25 million on $19.73 million of
total interest and dividend income for the same period last year.

For the six months ended June 30, 2013, the Company reported net
income of $8.94 million on $34.42 million of total interest and
dividend income, as compared with a net loss of $1.71 million on
$39.18 million of total interest and dividend income for the same
period during the prior year.

The Company's balance sheet at June 30, 2013, showed $1.93 billion
in total assets, $1.86 billion in total liabilities and $71.10
million in total stockholders' equity.

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


                         http://is.gd/VfGXZ2

                          About Old Second

Old Second Bancorp, Inc., is a financial services company with its
main headquarters located in Aurora, Illinois.  The Company is the
holding company of Old Second National Bank, a national banking
organization headquartered in Aurora, Illinois and provides
commercial and retail banking services, as well as a full
complement of trust and wealth management services.  The Company
has offices located in Cook, Kane, Kendall, DeKalb, DuPage,
LaSalle and Will counties in Illinois.

Old Second reported a net loss available to common stockholders of
$5.05 million in 2012, as compared with a net loss available to
common stockholders of $11.22 million in 2011.


ONCURE HOLDINGS: Can Seek Votes for Ch. 11 Plan, $125MM Sale
------------------------------------------------------------
Law360 reported that a Delaware bankruptcy judge approved OnCure
Holdings Inc.'s Chapter 11 disclosure statement, allowing the
private equity-owned network of oncology treatment centers to
solicit votes for a plan that includes its $125 million sale to a
competitor.

According to the report, Colorado-based OnCure and its affiliates
entered court protection June 14 in the face of a cash crunch
brought on by declining Medicare and Medicaid reimbursements, and
soon after announced Radiation Therapy Services Holdings Inc. had
been brought on board as a $125 million stalking horse.

As previously reported by The Troubled Company Reporter, the Plan
contemplates certain transactions, including, without limitation,
the following transactions: pursuant to an investment agreement
dated June 22, 2013, Radiation Therapy Services, Inc. agreed to
(1) buy 100% of the shares of Reorganized HoldCo upon the
Effective Date of the Plan and (2) pay $42,500,000 in cash,
subject to certain adjustments, and to guarantee $82,500,000 of
the Amended Secured Notes.

The Court scheduled an October 3, 2013 hearing to consider the
Plan, and interested parties must file ballots by September 23,
2013.

                      About OnCure Holdings

Headquartered in Englewood, Colorado, OnCure Holdings, Inc. --
http://www.oncure.com/-- provides management services and
facilities to oncology physician groups throughout the country.

OnCure Holdings and its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 13-11540 to 13-11562) in
Wilmington on June 14, 2013.  Bradford C. Burkett signed the
petition as CEO.

On the Petition Date, the Debtors disclosed total assets of
$179,327,000 and total debts of $250,379,000.  There's at least
$15 million owing on a first-lien term loan facility, as well as
$210 million on prepetition secured notes.

Paul E. Harner, Esq., and Keith A. Simon, Esq., at Latham &
Watkins LLP, in New York, serve as the Debtors' lead bankruptcy
counsel.  Daniel J. DeFranceschi, Esq., at Richards, Layton &
Finger P.A., in Wilmington, Delaware, serves as the Debtors' local
Delaware counsel.  Kurtzman Carson Consultants is the claims and
notice agent.  Match Point Partners LLC provides management
services to OnCure.

The Debtors have signed a deal to sell the business to Radiation
Therapy Services Holdings Inc. for $125 million, absent higher and
better offers. RTS's offer comprises $42.5 million in cash (plus
covering certain expenses and subject to certain working capital
adjustments) and up to $82.5 million in assumed debt.  Secured
noteholders are supporting the RTS deal.

Millstein & Co., Kirkland & Ellis LLP, Alvarez & Marsal and
Deloitte advise Radiation Therapy in connection with the
transaction.

Promptly before the bankruptcy filing, the Debtors entered into a
restructuring support agreement with the members of an ad hoc
committee of its secured notes, constituting 100% of the lenders
under the first lien term loan credit agreement and approximately
73% of the secured notes, pursuant to which they have agreed to
support a stand-alone restructuring of the Debtors, subject to an
auction process for a sale of substantially all of the Debtors'
assets or the equity of the reorganized Debtors pursuant to a
chapter 11 plan.

Roberta A. DeAngelis, U.S. Trustee for Region 3 notified the Court
that she was unable to appoint an official committee of unsecured
creditors due to insufficient response from creditors.


OPTIMUMBANK HOLDINGS: Files Form 10-Q, Incurs $2.3MM Loss in Q2
---------------------------------------------------------------
Optimumbank Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $2.25 million on $1.26 million of total interest
income for the three months ended June 30, 2013, as compared with
a net loss of $770,000 on $1.28 million of total interest income
for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $4.41 million on $2.56 million of total interest income,
as compared with a net loss of $1.35 million on $2.58 million of
total interest income for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $135.90
million in total assets, $133.50 million in total liabilities and
$2.39 million in total stockholders' equity.

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

                        http://is.gd/aBeebT

                     About OptimumBank Holdings

OptimumBank Holdings, Inc., headquartered in Fort Lauderdale,
Fla., is a one-bank holding company and owns 100 percent of
OptimumBank, a state (Florida)-chartered commercial bank.

The Company offers a wide array of lending and retail banking
products to individuals and businesses in Broward, Miami-Dade and
Palm Beach Counties through its executive offices and three branch
offices in Broward County, Florida.

Optimumbank Holdings disclosed a net loss of $4.69 million in
2012, as compared with a net loss of $3.74 million in 2011.

                         Regulatory Matters

Effective April 16, 2010, the Bank consented to the issuance of a
Consent Order by the  Federal Deposit Insurance Corporation and
the the Florida Office of Financial Regulation, also effective as
of April 16, 2010.

The Consent Order represents an agreement among the Bank, the FDIC
and the OFR as to areas of the Bank's operations that warrant
improvement and presents a plan for making those improvements.
The Consent Order imposes no fines or penalties on the Bank.  The
Consent Order will remain in effect and enforceable until it is
modified, terminated, suspended, or set aside by the FDIC and the
OFR.


ORECK CORP: Techtronic Industries Completes Acquisition
-------------------------------------------------------
Vinicy Chan, writing for Bloomberg News, reports that Hong Kong-
based Techtronic Industries Co., maker of Hoover vacuum cleaners,
said it has completed its acquisition of Oreck Corp. and expects
the Nashville, Tennessee-based company to make money next year.
Techtronic is hoping to turn Oreck around by reducing expenses,
Chief Executive Officer Joseph Galli Jr. said in an interview in
the former British colony on Aug. 22, according to Bloomberg.

                        About Oreck Corp.

Oreck Corporation and eight affiliates sought Chapter 11
protection (Bankr. M.D. Tenn. Lead Case No. 13-04006) in
Nashville, Tennessee, on May 6, 2013, with plans to sell the
business as a going concern.

Oreck has been in the business of manufacturing, marketing and
selling vacuum cleaners and related products since the late 1960s.
The corporate offices are located in Nashville, and the
manufacturing and call center is located in Cookeville, Tennessee.

Oreck has 70 employees in Nashville, 250 employees at its plant in
Cookeville and 325 employees operating 96 company-owned and
managed retail stores.  The Debtor disclosed $18,013,249 in assets
and $14,932,841 plus an unknown amount in liabilities as of the
Chapter 11 filing.

William L. Norton III, Esq., and Alexandra E. Dugan, Esq., at
Bradley Arant Boult Cummings LLP, serve as counsel to the Debtor.
BMC Group Inc. is the claims and notice agent. Sawaya Segalas &
Co., LLC serves as financial advisor.

The U.S. Trustee appointed six creditors to the Official Committee
of Unsecured Creditors.  Daniel H. Puryear, Esq., at Puryear Law
Group, and Sharon L. Levine, Esq., and Kenneth A. Rosen, Esq., at
Lowenstein Sandler LLP represent the Committee.  The Committee
tapped to retain Gavin/Solmonese LLC as its financial advisor.

In July 2013, Royal Appliance Mfg. Co. (RAM), a subsidiary of the
TTI Group, finalized the purchase of Oreck Corp.'s assets.  The
Bankruptcy Court approved the sale on July 16, 2013.

Royal, the maker of Dirt Devil floor-care products, won the
auction for Oreck Corp.  The second-place bidder was the Oreck
family, which sold the business in a $272 million transaction in
2003.  The Oreck family made the first bid at auction at $21.9
million, including $14.5 million cash.

The terms of Royal's winning bid weren't disclosed publicly,
according to a Bloomberg News report.  Royal was acquired in 2003
by Hong Kong-based Techtronic Industries Co., the maker of Hoover
vacuum cleaners.


ORMET CORP: Wins $10MM DIP Package, Bill Relief
-----------------------------------------------
Law360 reported that strapped for cash while waiting to close a
buyout to a private equity firm, bankrupt aluminum smelter Ormet
Corp. won approval to take on $10 million in additional financing
and put off nearly $11 million in utility bills.

According to the report, the $130 million sale to private equity
firm Wayzata Investment Partners LLC -- approved by a Delaware
bankruptcy judge in June and designed to close by the end of July
-- has been stalled as parties await a potentially deal-breaking
ruling from an Ohio regulatory agency.

                        About Ormet Corp.

Aluminum producer Ormet Corporation, along with affiliates, filed
for Chapter 11 protection (Bankr. D. Del. Case No. 13-10334) on
Feb. 25, 2013, with a deal to sell the business to a portfolio
company owned by private investment funds managed by Wayzata
Investment Partners LLC.

Headquartered in Wheeling, West Virginia, Ormet --
http://www.ormet.com/-- is a fully integrated aluminum
manufacturer, providing primary metal, extrusion and thixotropic
billet, foil and flat rolled sheet and other products.

Ormet disclosed assets of $406.8 million and liabilities totaling
$416 million.  Secured debt of about $180 million includes $139.5
million on a secured term loan and $39.3 million on a revolving
credit.

Affiliates that separately filed Chapter 11 petitions are Ormet
Primary Aluminum Corporation; Ormet Aluminum Mill Products
Corporation; Specialty Blanks Holding Corporation; and Ormet
Railroad Corporation.

Ormet is represented in the case by Morris, Nichols, Arsht &
Tunnell LLP's Erin R. Fay, Esq., Robert J. Dehney, Esq., Daniel B.
Butz, Esq.; and Dinsmore & Shohl LLP's Kim Martin Lewis, Esq.,
Patrick D. Burns, Esq.  Kurtzman Carson Consultants is the claims
and notice agent.  Evercore's Lloyd Sprung and Paul Billyard serve
as investment bankers to the Debtor.

An official committee of unsecured creditors was appointed in the
case in March 2013.  The Committee is represented by:

          Rafael X. Zahralddin, Esq.
          Shelley A. Kinsella, Esq.
          Jonathan M. Stemerman, Esq.
          ELLIOTT GREENLEAF
          1105 North Market Street, Suite 1700
          Wilmington, DE 19801
          Telephone: 302-384-9400
          Facsimile: 302-384-9399

               - and -

          Sharon Levine, Esq.
          S. Jason Teele, Esq.
          Cassandra M. Porter, Esq.
          LOWENSTEIN SANDLER LLP
          65 Livingston Avenue
          Roseland, NJ 07068
          Telephone: 973-597-2500
          Facsimile: 973-597-2400

In June 2013, the Bankruptcy Court approved the sale of
substantially all of the assets of Ormet to Smelter Acquisition,
LLC, a portfolio company owned by private investment funds managed
by Wayzata Investment Partners LLC.  With no competing bids,
Wayzata acquired the business in exchange for $130 million in
secured debt plus the loan financing bankruptcy.  In connection
with its restructuring, Ormet received aggregate commitments of
$90 million of DIP Financing, consisting of $30 million in Term
DIP financing from Wayzata and a $60 million DIP facility from
Wells Fargo, which replaced its $60 million pre-petition revolver
with Ormet.


OVERLAND PARK DEV'T: Moody's Keeps Ba1 Ratings
----------------------------------------------
Moody's Investors Service maintains the Ba1 underlying ratings on
the Overland Park Development Corporation's $43.210 million First
Tier Refunding Revenue Bonds, Series 2007A (Overland Park
Convention Center Hotel) and $65.665 million Second Tier Refunding
Revenue Bonds, Series 2007B (Overland Park Convention Center
Hotel).

Rating Rationale:

The Ba1 rating reflects the hotel's stable operating performance,
as well as the City of Overland Park's Transient Guest Tax support
toward the hotel's debt service payments. The hotel's dependence
on the city support has increased since 2007 when the hotel's net
operating revenues were substantially higher. While the hotel has
not bounced back to its 2007 operating and financial performance
levels, Moody's believes it reached bottom in 2010 and has been
improving since then.

Outlook:

The stable outlook reflects expectations regarding the gradual
improvements to both the net operation revenue of the hotel and
the TGT available revenues.

What could change the rating up?

-- Material and sustained increases in occupancy, ADRs, and net
    cash flow could put upward pressure on the rating.

What could change the rating down?

-- Further declines in occupancy and ADRs or a significant
    deviation from forecasts could put downward pressure on the
    rating.

Strengths

- Both series of bonds are additionally secured by a pledge of
   TGT revenues

- The Overland Park Development Corporation-owned hotel is
   located in Overland Park (Aaa GO rating), a wealthy suburb of
   Kansas City, and benefits from nearby offices, which attract
   transient business travelers, and the Overland Park convention
   center, attached to the hotel and generates group room nights

- Strong management agreement with Sheraton extends through 2022
   and requires annual deposits for a maintenance reserve equal
   to 6% of gross revenues, slightly above comparable properties

Challenges:

- The hotel's demand drivers - which include corporate offices
   in Overland Park and the convention center - are limited
   compared to hotels in larger, more urban areas with a greater
   diversity of economic activity

- Revenues from convention center hotels are generally
   economically sensitive and downturns in the general economy
   can depress occupancy and room rates


OVERLAND STORAGE: Extends Maturity of Silicon Valley Loan to 2015
-----------------------------------------------------------------
Overland Storage, Inc., entered into an amendment to its Loan and
Security Agreement with Silicon Valley Bank on Aug. 8, 2013.  The
Credit Facility, as amended by the Amendment, continues to provide
for an $8,000,000 revolving line of credit.  The Amendment
extended the maturity date of the Credit Facility to Aug. 7, 2015.
The Amendment added a separate credit line of $750,000 for letters
of credit, foreign exchange contracts and cash management, which
is in addition to the existing $8,000,000 revolving line of
credit.  As a result, the $2,500,000 sublimit of the Company's
revolving line of credit for letters of credit, foreign exchange
contracts and cash management was removed.

Additionally, the Amendment replaced the term "Ratio Event", as
used throughout the Credit Facility, with a "Net Cash Event."  A
Net Cash Event will occur at any time that the Company's "Net
Cash" is less than $500,000.  Net Cash means the Company's
unrestricted cash and cash equivalents at Silicon Valley Bank and
its affiliates plus net Eligible Accounts (as defined in the
Credit Facility) minus the outstanding principal amount of
advances under the Credit Facility minus the face amount of
letters of credit that have not been cash collateralized.

                        About Overland Storage

San Diego, Cal.-based Overland Storage, Inc. (Nasdaq: OVRL) --
http://www.overlandstorage.com/-- is a global provider of unified
data management and data protection solutions designed to enable
small and medium enterprises (SMEs), corporate departments and
small and medium businesses (SMBs) to anticipate and respond to
change.

The Company incurred a net loss of $16.16 million for the fiscal
year 2012, compared with a net loss of $14.49 million for the
fiscal year 2011.  For the nine months ended March 31, 2013, the
Company incurred a net loss of $14.22 million on $35.95 million of
net revenue, as compared with a net loss of $13.46 million on
$44.33 million of net revenue for the same period during the prior
year. The Company's balance sheet at March 31, 2013, showed $38.40
million in total assets, $44.79 million in total liabilities and a
$6.38 million total shareholders' deficit.

Moss Adams LLP, in San Diego, California, issued a "going concern"
qualification on the consolidated financial statements for the
year ended June 30, 2012.  The independent auditors noted that the
Company's recurring losses and negative operating cash flows raise
substantial doubt about the Company's ability to continue as a
going concern.


PARKWAY ACQUISITION: Seeks to Hire Goldberg Weprin as Counsel
-------------------------------------------------------------
Parkway Acquisition I, LLC, f/k/a Parkway Hospital Associates,
seeks authority from the U.S. Bankruptcy Court for the Southern
District of New York to employ Goldberg Weprin Finkel Goldstein
LLP as its bankruptcy counsel.

The Debtor needs Goldberg Weprin:

-- to provide all necessary legal advice concerning the operation
   and restructuring of the property owned by the Debtor located
   at 70-35 113th Street, Forest Hills, NY.

-- to represent the Debtor in all proceedings before the
   Bankruptcy Court and/or United States Trustee.

-- to draft, prepare and file all necessary legal papers,
   applications, motions, reports and plan related documents on
   the Debtor's behalf.

-- to render all other legal services which may be necessary to
   facilitate resolution of the Chapter 11 case, including
   effectuating a sale and/or redevelopment of the Property.

-- to object to claims of secured and unsecured creditors as may
   be necessary or appropriate.

The Debtor believes Goldberg Weprin is disinterested and able to
serve as bankruptcy counsel in this matter, Robert G. Aquino, Sr.
Manager of Parkway Acquisition, relates.

                    About Parkway Acquisition

Parkway Acquisition I, LLC, filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case NO. 13-12015) in Manhattan on June 17, 2013.
Robert G. Aquino, Sr., signed the petition as sole manager and
member.  Judge Shelley C. Chapman presides over the case.  The
Debtor estimated assets and debts of at least $10 million.  Kevin
J. Nash, Esq., at Goldberg Weprin Finkel Goldstein LLP, serves as
counsel.

The Debtor owns the real property located at 70-35 113th Street,
Forest Hills, New York.  The property formerly housed the Parkway
Hospital but the property has essentially laid vacant since the
closure of the hospital in 2008 and the bankruptcy filing of the
hospital.


PATRIOT COAL: Peabody Liable for Benefits, 8th Cir. BAP Says
------------------------------------------------------------
A three-judge bankruptcy appellate panel of the United States
Court of Appeals, Eighth Circuit, reversed a bankruptcy court
ruling that (1) Peabody Holding Company LLC's obligations would be
affected by a modification of the healthcare benefits owed to
Patriot Coal Corp. retirees under 11 U.S.C. Sec. 1114, (2) denied
the declaratory relief sought by Patriot Coal and Heritage Coal
Company, LLC.  The Panel disagrees with the bankruptcy court that
only Heritage Coal is liable for the benefits; both parties are
liable.  Bankruptcy Judge Judge Robert Kressel penned the decision
dated Aug. 21, 2013, a copy of which is available at
http://is.gd/WBPrIHfrom Leagle.com.

The appellate case is, Patriot Coal Corporation; Heritage Coal
Company LLC, Plaintiffs-Appellants, v. Peabody Holding Company,
LLC; Peabody Energy Corporation, Defendants-Appellees, No.
13-6031.

                        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 serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  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 U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
HoulihanLokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed December 19 by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.


PATRIOT COAL: GCP OK'd as Special Claims Administration Counsel
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Missouri
authorized Patriot Coal Corp. et al., to employ GCP Legal
Advisors, LLC, as special claims administration counsel for the
Debtors, nunc pro tunc to July 15, 2013.

As reported in the TCR on Aug. 2, 2013, GCP Legal Advisors will
provide these legal services:

   a. analysis of the validity of claims filed against the
      Debtors;

   b. coordination and supervision of the Debtors' outside
      advisors handling claims administration matters;

   c. coordination and counsel to the Debtors' personnel having
      the factual basis to support claims resolution matters; and

   d. any other matter specifically requested by the Debtors'
      general counsel that may arise in connection with the
      Debtors' reorganization proceedings and its business
      operations.

GCP Legal Advisors' requested compensation for professional
services rendered to the Debtors will be based on the hours
actually expended by each assigned professional at that
professional's hourly billing rate, as well as reimbursement for
reasonable and necessary expenses that GCP Legal Advisors
customarily bills to its clients.

                        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 serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  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 U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
HoulihanLokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed December 19 by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.


PATRIOT COAL: Plan Filing Period Extended to December 1
-------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Missouri
approved Patriot Coal Corp., et al. third motion for an order
extending the Debtors' exclusive periods to file and solicit
acceptances of a plan of reorganization to Dec. 1, 2013, and
Jan. 30, 2014, respectively.

                        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 serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  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 U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
HoulihanLokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed December 19 by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.


PATRIOT COAL: Court Enters Supplemental DIP Financing Order
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Missouri
entered Wednesday a supplemental DIP Financing Order authorizing,
pursuant to 11 Sections 363 and 364 of the Bankruptcy Code, (1)
Patriot Coal Corp., et al.'s entry into an amendment to the DIP
Financing Order, (2) the engagement of the First DIP Agent to
arrange for consent to the Amendment by the requisite First Out
DIP Lenders, (3) the payment of the Amendment Fees, and (4) the
waiver, to the extent applicable, of the fourteen-day stay
otherwise imposed by Federal Bankruptcy Rule 6004(h) on the
immediate effectiveness of the Supplemental DIP Financing Order.

As reported in the TCR on Aug. 2, 2013, the Debtors seek an
amendment to the First Out DIP Agreement, which, if consented to
by the Required Lenders, will have the effect of lowering the
minimum consolidated EBITDA financial covenant thresholds for
periods following June 30, 2013.  The Debtors are hopeful that the
requisite First Out DIP Lenders consent to the Amendment by
Aug. 6, 2013, which is the consent deadline provided by Citibank,
N.A., the First Out DIP Agent, to the First Out DIP Lenders.

According to papers filed with the Court, the Amendment, if
consented to by the Required Lenders, will prevent the Debtors
from potentially defaulting under the DIP Facilities and thereby
allow the Debtors to continue to access the liquidity necessary to
finalize a plan within the current timeline provided for under the
DIP Credit Agreements, which timeline is not affected by the
Amendment.

On Aug. 3, 2012, the SDNY Bankruptcy Court authorized the Debtors
to enter into the DIP Financing Facility consisting of (i) new
money (a) revolving credit loans in an aggregate amount not to
exceed $125,000,000 and (b) term loans in an aggregate amount of
$375,000,000 (collectively, the "First Out Facility"), and (ii) a
roll up of obligations under the Debtors' prepetition credit
agreement in the aggregate amount of approximately $302,000,000 as
of the Petition Date (the "Second Out Facility").

As is customary, the Amendment contains fee provisions, including
the payment of fees to the First Out DIP Lenders that consent to
the Amendment and fees payable to the First Out DIP Agent for
arranging the Amendment, in each case as a condition to the
effectiveness of the Amendment (other than the waiver provisions
thereof).  The terms surrounding the Amendment Fees payable to,
and indemnification of, the First Out DIP Agent are contained in a
separate engagement letter, which the Debtors and the First Out
DIP Agent have agreed to keep strictly confidential.

The Minimum Consolidated EBITDA (in millions) under the Current
First Out DIP Agreement and the Proposed Amendment are as shown
below:

     Current First Out DIP
          Agreement                   Proposed Amendment
  ----------------------------    ----------------------------
July 31, 2013         $110.0    July 31, 2013          $70.6
August 31, 2013       $134.0    August 31, 2013        $68.6
September 30, 2013    $148.0    September 30, 2013     $65.2
October 31, 2013      $176.0    October 31, 2013       $83.8
November 30, 2013     $190.0    November 30, 2013      $94.6
December 31, 2013     $205.0    December 31, 2013     $101.3

                        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 serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  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 U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
HoulihanLokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed December 19 by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.


PATRIOT COAL: Duff & Phelps as Valuation Services Provider Okayed
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Missouri
authorized Patriot Coal Corp., et al., to employ Duff &
Phelps, LLC, as the Debtor's valuation services provider in
connection with valuation, liquidation analysis and fresh start
accounting services required during the Chapter 11 cases, nunc pro
tunc to July 11, 2013.

As reported in the TCR on Aug. 6, 2013, Duff & Phelps will provide
the Debtors with the following valuation services:

a. the estimation of the Fair Value and remaining useful life of
certain assets and liabilities for the purposes of fresh start
accounting, as defined in the Engagement Letters; and

b. the estimation of i) the value of the PP&E and Mineral
Interests (as defined in the Engagement Letters) assuming that
each asset was to be liquidated individually through an orderly
liquidation scenario and ii) the value of the PP&E Mineral
Interests, Surface Land, and Inventory (as defined in the
Engagement Letters) assuming that each asset was to be liquidated
individually through a distressed liquidation Scenario.  Together,
the Orderly Liquidation Value and Distressed Liquidation Value
will be referred to as the "Liquidation Values."

At the conclusion of the analysis for each (a) and (b) above, Duff
& Phelps will provide the Debtors with a written report that will
include a narrative description of the methodologies used and the
valuation conclusions as to the Liquidation Values and the Subject
Assets and Liabilities.  These reports will be used by the Debtors
and their advisors as part of the bankruptcy analysis necessary
for the Debtors to emerge from Chapter 11, specifically to compare
the Liquidation Values to the estimated reorganization value of
the value as a whole and to comply with fresh start accounting
standards.

Duff & Phelps intends to charge the Debtors for its fresh start
valuation and liquidation valuation services on an hourly basis
ranging from $95 for Administrative Staff to $620 for Managing
Directors.  Duff & Phelps has provided the Debtors with these
estimates for the fresh start valuation and liquidation valuation
services referenced in the Engagement Letters:

     Task                                 Estimated Fee Range

Valuation of PP&E                         $100,000 - $105,000
Valuation of Mineral Interest             $75,000 - $80,000
Valuation of Surface Land                 $30,000 - $35,000
Valuation of Other Assets/Liabilities     $40,000 - $45,000
Narrative Report and Administration       $30,000 - $35,000
Estimation of Liquidation Values          $75,000 - $80,000

In addition to the fees set forth above, the Debtors will
reimburse Duff & Phelps for any direct expenses incurred in
connection with Duff & Phelps' retention in the Chapter 11 cases
and the performance of the services set forth in the Engagement
Letters.

                        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 serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  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 U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
HoulihanLokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed December 19 by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.


PEABODY ENERGY: Weak Coal Prices Prompt Moody's to Cut CFR to Ba2
-----------------------------------------------------------------
Moody's downgraded the ratings of Peabody Energy Corporation,
including its Corporate Family Rating  to Ba2 from Ba1;
Probability of Default Rating  to Ba2-PD from Ba1-PD; senior
unsecured rating to Ba2 from Ba1, and subordinated debt rating to
B1 from Ba3. Moody's also changed Speculative Grade Liquidity
(SGL) rating to SGL-2 from SGL-1. The outlook is stable.

Ratings Rationale:

The downgrade reflects the prolonged weak industry conditions for
metallurgical and thermal coal, with little improvement expected
over the next 12-18 months. At this level, Moody's expects
Peabody's credit metrics to deteriorate in 2013 over 2012 levels,
and weaken further in 2014, as higher-priced thermal contracts
expire and the low met coal prices persist. Moody's anticipates
that Debt/ EBITDA, as adjusted by Moody's, will range from 5x --
7x over the next twelve to eighteen months. Moody's expects
operating cash flows less capex in the $200 million range in 2013,
and to approach zero in 2014 at Moody's pricing assumptions.

Over the next twelve to eighteen months, Moody's anticipates
modest volume growth in the company's PRB operations, along with
some spot price recovery, driven by higher natural gas prices and
secular decline of Central Appalachian coal. But average
realizations in Peabody's US thermal division will decline, as
higher-priced contracts expire. Moody's also anticipates revenue
and EBITDA generated by Peabody's Australian business to decline
in 2014, due to lower metallurgical and seaborne thermal coal
prices. Moody's expects that benchmark settlement prices for high
quality metallurgical coal will improve as compared to the recent
$145 settlement, but will remain below $160, due to additional
supplies coming online worldwide and persistently weak demand from
the global steel industry. Moody's expects that these weak prices
will challenge Peabody's Australian mines, despite the company's
efforts to contain costs and improve productivity.

The Ba2 corporate family rating continues to reflect Peabody's
significant size and scale, broadly diversified reserves and
production base, efficient surface mining operations, and a solid
portfolio of long-term coal supply agreements with electric
utilities. The rating also reflects the company's healthy margins,
organic growth opportunities, and strong management. Challenges
for the rating include challenges facing the US coal industry, the
potential volatility of the company's Australian operations due to
its exposure to metallurgical coal, foreign currency fluctuations,
operational risks inherent in the coal industry, and persistent
cost pressures.

The company's Speculative Grade Liquidity Rating of SGL-2 reflects
Peabody's cash on hand and substantial revolver capacity. Peabody
has over $500 million in cash and cash equivalents, and almost
full availability of its $1.5 billion revolving credit facility,
which matures in 2015. Peabody's next significant maturity, $352
million from its term loan facility, comes due in 2015, followed
by roughly $1.4 billion in term loans and notes in 2016. While
Moody's expects Peabody to be able to access its revolver if
necessary, it believes headroom under covenants could get tight in
the second half of 2014. Peabody has several alternatives for
arranging back-door liquidity if necessary. Peabody's large number
of mines and its operational diversity across the PRB and Illinois
Basin give it the flexibility to sell non-core assets if
necessary.

The stable outlook reflects Moody's expectation that continued
recovery in met prices over the medium term, along with cost
containment, will offer support to the company's credit metrics
and return Debt/ EBITDA, as adjusted, to levels below 6x on a
sustainable basis.

Although upgrade is unlikely in the near term, ratings could be
upgraded if Debt/ EBITDA, as adjusted, was expected to fall below
4x on sustainable basis.

A downgrade would be considered if liquidity position
deteriorated, Debt/ EBITDA was expected to exceed 6x on
sustainable basis, free cash flows were persistently negative,
and/or debt capitalization ratio was expected to track above 65%.

The principal methodology used in this rating was Global Mining
Industry published in May 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.

Peabody Energy Corporation is the world's largest private sector
coal company with 28 coal mining operations in the US and
Australia and approximately 9 billion tons of proven and probable
reserves. In 2012 the company sold 249 million tons of coal and
generated $7.9 billion in revenues.


PECOS STORAGE: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Pecos Storage, LLC
        PMB 625
        Phoenix, AZ 85045

Bankruptcy Case No.: 13-14245

Chapter 11 Petition Date: August 19, 2013

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Sarah Sharer Curley

Debtor's Counsel: Harold E. Campbell, Esq.
                  CAMPBELL & COOMBS, P.C.
                  1811 S. Alma School Road, Ste 225
                  Mesa, AZ 85210
                  Tel: (480) 839-4828
                  Fax: (480) 897-1461
                  E-mail: heciii@haroldcampbell.com

Estimated Assets: $0 to $50,000

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

A list of the Company?s three largest unsecured creditors, filed
together with the petition, is available for free at
http://bankrupt.com/misc/azb13-14245.pdf

The petition was signed by Dale Huish, manager.


PERSONAL COMMUNICATIONS: $46-Mil. DIP Loan Requires Quick Sale
--------------------------------------------------------------
Personal Communications Devices LLC seeks approval from the
bankruptcy court to obtain up to $46 million of DIP financing from
lenders led by JPMorgan Chase Bank, N.A., as administrative agent.
The Debtors also seek to use cash collateral.

PCD says the DIP financing will allow the Debtors to maintain
operations pending a sale of the assets.  The DIP Facility
provides the Debtors with up to $46 million in availability on a
final basis, $40 million of which will be available on an interim
basis.  The availability is reduced gradually from $46 million to
$38 million in the final three weeks of the borrowing period. The
total availability under the DIP Facility will be calculated based
on certain formulas relating to the Debtors' borrowing base, with
the funds to be used in accordance with the approved budget. Part
of the DIP Facility includes access to a $5 million swing line of
credit, which may be requested on a same-day basis.

The Debtors' assets are fully encumbered by both first and second
liens in favor of the prepetition secured lenders.  The aggregate
amount of the debt secured by such liens likely exceeds the value
of the Debtors' assets.

PCD has secured debt in the principal amount of $105 million, with
$34 million of that amount secured by a first priority lien.
JPMorgan serves as agent, Wells Fargo Capital Finance, LLC is the
syndication agent, and Bank of America, N.A., is the documentation
agent under the first lien facility.  U.S. Bank National
Association is the administrative agent under the second-lien
facility.

The DIP Facility contemplates an incremental "roll-up" of the
first lien credit obligations.  The roll-up is structured so that
as the Debtors' generate cash receipts through the normal
operation of their business, those cash receipts are used, in the
DIP agent's discretion, first to pay the first lien credit
obligations.

The DIP facility will mature 65 days after the closing date.
The DIP Facility is conditioned upon the achievement of certain
milestones related to the sale process, including:

   * Filing of a sale motion within two business days of the
     Petition Date;

   * The hearing to approve the bidding procedures order will
     have occurred within 14 days of the Petition Date;

   * Entry of a bid procedures order within 16 days of the
     Petition Date;

   * The Debtors' receipt of one or more qualified bids within
     45 days of the Petition Date;

   * Entry of the sale order within 55 days of the Petition
     Date; and

   * Consummation of the sale within 65 days of the Petition Date.

The Debtors have a "stalking horse" asset purchase agreement with
Quality One Wireless LLC and its newly-formed affiliate, Q1W
Newco, LLC.  Quality One has agreed to purchase substantially all
of the Debtors' assets for an aggregate purchase price of
approximately $105,250,000, absent higher and better offers.

A copy of the declaration filed by CFO Raymond F. Kunzmann in
support of the Chapter 11 petition is available for free at:

     http://bankrupt.com/misc/PCD_1stDay_Affidavit.pdf

                 About Personal Communications

Personal Communications Devices LLC and an affiliate, Personal
Communications Devices Holdings, LLC, filed for Chapter 11
bankruptcy (Bankr. S.D.N.Y. Case No. 13-74303) on Aug. 19, 2013,
in Central Islip, N.Y., estimating between $100 million
and $500 million in both assets and liabilities.  Bankruptcy Judge
Alan S. Trust oversees the case.

PCD has a proposal in place to sell itself to Quality One Wireless
LLC for $105.3 million, subject to higher bids.  The Company is
asking the Court to approve guidelines to govern the bidding and
sale process.

PCD is advised in this transaction by Richter Consulting Inc., BG
Strategic Advisors, and Goodwin Procter LLP.  Q1W is advised by
Raymond James and Associates, Inc. and Munsch Hardt Kopf & Harr,
P.C.

PCD -- http://www.pcdphones.com-- provides both carriers and
manufacturers an array of product life cycle management services
that includes planning and development; inventory; technical
testing; quality control; forward and reverse logistics; sell-in
and sell-thru, marketing & warranty support.  Its extensive
portfolio of high-quality and versatile wireless devices includes
feature phones, smartphones, tablets, mobile hotspots, modems,
routers, fixed wireless, M2M, GPS, and other innovative wireless
connectivity devices and accessories.  PCD is based in Hauppauge,
New York; and maintains operations facilities in Brea, California;
and Toronto, CA.


PERSONAL COMMUNICATIONS: Case Summary & Creditors List
------------------------------------------------------
Debtor: Personal Communications Devices, LLC
        80 Arkay Drive
        Hauppauge, NY 11788

Bankruptcy Case No.: 13-74303

Affiliate that simultaneously filed for Chapter 11:

        Debtor                                  Case No.
        ------                                  --------
Personal Communications Devices Holdings, LLC   13-74304

Chapter 11 Petition Date: August 19, 2013

Court: U.S. Bankruptcy Court
       Eastern District of New York (Central Islip)

Judge: Alan S. Trust

Debtors' Counsel: Emanuel C. Grillo, Esq.
                  GOODWIN PROCTER, LLP
                  The New York Times Building
                  620 Eighth Avenue
                  New York, NY 10018
                  Tel: (212) 813-8800
                  Fax: (212) 355-3333
                  E-mail: egrillo@goodwinprocter.com

Debtors'
Bankruptcy
Counsel:          TOGUT, SEGAL & SEGAL, LLP

Debtors'
Claims and
Noticing Agent:   EPIQ BANKRUPTCY SOLUTIONS, LLC

Debtors'
Financial
Advisor and
Investment
Banker:           BG STRATEGIC ADVISORS, LLC

Debtors'
Investment
Banker:           RICHTER CONSULTING, INC.

Lead Debtor's
Estimated Assets: $100,000,001 to $500,000,000

Lead Debtor's
Estimated Debts: $100,000,001 to $500,000,000

The petitions were signed by Raymond F. Kunzmann, chief financial
officer.

Debtors' Consolidated List of Their 30 Largest Unsecured
Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
HTC America, Inc.                  Trade Debt          $96,273,931

Pantech Co., Ltd.                  Trade Debt          $27,369,762

TCT Mobile Multinational           Trade Debt          $21,420,131

Pantech Wireless, Inc.             Trade Debt          $18,848,000

Huawei Device USA                  Trade Debt           $4,912,438

ZTE (USA), Inc.                    Trade Debt           $4,100,741

Wistron NeWeb Corporation          Trade Debt           $1,614,564

M Seven System, Ltd.               Trade Debt           $1,202,999

CynergyHitech                      Trade Debt             $627,315

Shine Electronics Co., Inc.        Trade Debt             $485,839

ATC Logistics & Electronics, Inc.  Trade Debt             $453,387

Fashion Forward Worldwide          Trade Debt             $186,576
Corporation

Transparent Container Company,     Trade Debt             $111,575
Inc.

Primeline Services LLC             Trade Debt             $110,554

American Express Co.               Trade Debt             $102,719

Nexius Solutions, Inc.             Trade Debt              $96,631

Rechler Equity Construction, LLC   Trade Debt              $93,703

Andrews International, Inc.        Trade Debt              $79,309

LBA Realty, LLC                    Trade Debt              $68,825

Rep 80 Arkay Drive, LLC            Trade Debt              $68,034

Selective Personnel, Inc.          Trade Debt              $67,026

Air City, Inc.                     Trade Debt              $63,967

Corning Data Services, Inc.        Trade Debt              $47,602

Onecap Services, LLC               Trade Debt              $46,628

Covenant Transportation            Trade Debt              $42,970

Pilot Freight Services             Trade Debt              $41,448

Federal Express Corporation        Trade Debt              $38,377

Cricket Communications             Trade Debt              $35,000

The Richards Group                 Trade Debt              $28,377

United Parcel Service              Trade Debt              $24,790


PGI INCORPORATED: Incurs $1.7 Million Net Loss in Second Quarter
----------------------------------------------------------------
PGI Incorporated filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.70 million on $4,000 of revenues for the three months ended
June 30, 2013, as compared with a net loss of $1.60 million on
$7,000 of revenues for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $3.35 million on $8,000 of revenues, as compared with a
net loss of $3.08 million on $15,000 of revenues for the same
period a year ago.

The Company's balance sheet at June 30, 2013, showed $1.30 million
in total assets, $74.37 million in total liabilities and a $73.06
million stockholders' deficiency.

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

                        http://is.gd/o7zGql

                       About PGI Incorporated

St. Louis, Mo.-based PGI Incorporated, a Florida corporation, was
founded in 1958, and up until the mid 1990's was in the business
of building and selling homes, developing and selling home sites
and selling undeveloped or partially developed tracts of land.
Over approximately the last 15 years, the Company's business focus
and emphasis changed substantially as it concentrated its sales
and marketing efforts almost exclusively on the disposition of its
remaining real estate.  This change was prompted by its continuing
financial difficulties due to the principal and interest owed on
its debt.

Presently, the most valuable remaining asset of the Company is a
parcel of 366 acres located in Hernando County, Florida.  The
Company also owns a number of scattered sites in Charlotte County,
Florida (the "Charlotte Property"), but most of these sites are
subject to easements which markedly reduce their value and/or
consist of wetlands of indeterminate value.  As of Dec. 31, 2011,
the Company also owned six single family lots, located in Citrus
County, Florida.

As of Dec. 31, 2011, the Company had no employees, and all
services provided to the Company are through contract services.

PGI disclosed a net loss of $6.24 million in 2012, as compared
with a net loss of $5.48 million in 2011.

BKD, LLP, in St. Louis, Missouri, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that the
Company has significant accumulated deficit, and is in default on
its primary debt, certain sinking fund and interest payments on
its convertible subordinated debentures and its convertible
debentures.  These matters raise substantial doubt about the
Company's ability to continue as a going concern.


PINNACLE ENTERTAINMENT: Moody's Says Lumiere Sale is Credit Pos.
----------------------------------------------------------------
Moody's Investors Service said Pinnacle Entertainment, Inc.'s (B1
stable) August 16 announcement that it agreed to sell Lumiere
Place Casino, HoteLumiere, the Four Seasons Hotel St. Louis to
Tropicana Entertainment, Inc. (B2 stable) for cash consideration
of $260 million is a credit positive for both companies.

The principal methodology used in this rating was the Global
Gaming Industry Methodology published in December 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.

Pinnacle owns and operates seven casinos, located in Louisiana,
Missouri, and Indiana, and a racetrack in Ohio. In addition,
Pinnacle is redeveloping River Downs in Cincinnati, Ohio into a
gaming entertainment facility, owns an approximate 24% equity
stake in Asian Coast Development (Canada) Ltd. (ACDL), an
international development and real estate company currently
developing Vietnam's first large-scale integrated resort on the Ho
Tram Strip, and holds a majority interest in the racing license
owner, as well as a management contract, for Retama Park Racetrack
outside of San Antonio, Texas. The company generated about $1.2
billion of net revenue for the latest 12 month period ended March
31, 2013.

Tropicana Entertainment Inc. is an owner and operator of regional
casino and entertainment properties including three casinos in
Nevada, and one casino in each of the following jurisdictions:
Mississippi, Indiana, Louisiana and New Jersey. The company is
also developing a casino resort located on the island of Aruba (a
temporary casino opened on the property in December 2011).
Tropicana Entertainment Inc. is majority owned by Icahn
Enterprises LP. The company generates approximately $640 million
in net revenues annually.


PITT PEN: UpShot Services Approved as Claims and Noticing Agent
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware on
August 15 approved UpShot Services LLC as claims and noticing
agent to Pitt Penn Holding Co., Inc., and its affiliated
debtors, pursuant to 28 U.S.C. 156(c), nunc pro tunc to
July 10, 2013.

          About Pitt Penn and Industrial Enterprises

Pitt Penn Holding Co., Inc., and Pitt Penn Oil Co., LLC, each
filed voluntary petitions for Chapter 11 relief (Bankr. D. Del.
Case Nos. 09-11475 and 09-11476) on April 30, 2009.  Industrial
Enterprises of America, Inc., f/k/a Advanced Bio/Chem, Inc., filed
for Chapter 11 protection (Bankr. D. Del. Case No. 09-11508) on
May 1, 2009.  EMC Packaging, Inc., filed a voluntary petition for
Chapter 11 relief (Bankr. D. Del. Case No. 09-11524) on May 4,
2009.  Unifide Industries, LLC, and Today's Way Manufacturing LLC,
each filed a voluntary petition for Chapter 11 relief (Bankr. D.
Del. Case Nos. 09-11587 and 09-11586) on May 6, 2009.

PPH, PPO, EMC, Unifide, and Today's Way are each subsidiaries of
IEAM.  The cases are jointly administered under Case No. 09-11475.

Christopher D. Loizides, Esq., at Loizides, P.A., in Wilmington,
Del., represents the Debtors as counsel.  In its petition,
Industrial Enterprises disclosed total assets of $50,476,697 and
total debts of $17,853,997.

Industrial Enterprises originally operated as a holding company
with four wholly owned subsidiaries, PPH, EMC, Unifide, and
Today's Way.  PPH, through its wholly owned subsidiary, PPO, was a
leading manufacturer, marketer and seller of automotive chemicals
and additives.

EMC's original business consisted of converting hydrofluorocarbon
gases R134a and R152a into branded private label refrigerant and
propellant products.  Unifide was a leading marketer and seller of
automotive chemicals and additives.  Today's Way manufactured and
packaged the products which were sold by Unifide.

Norman L. Pernick was appointed as the chapter 11 trustee for the
Debtors.  The trustee tapped Cole, Schotz, Meisel, Forman &
leonard, P.A., as counsel, and CohnReznick LLP as his exclusive
financial advisor.


POLYMER GROUP: S&P Puts 'B' CCR on CreditWatch Negative
-------------------------------------------------------
Standard & Poor's Ratings Services said it placed all its ratings,
including the 'B' corporate credit rating, on Charlotte-N.C.-based
Polymer Group on CreditWatch with negative implications.

"The CreditWatch placement followed the announcement that Polymer
Group has offered to acquire Fiberweb for about $265 million,
subject to satisfactory completion of due diligence," said
Standard & Poor's credit analyst Cynthia Werneth.

S&P rates Polymer Group's senior secured notes 'B' (the same as
the corporate credit rating) with a recovery rating of '4'.  The
recovery rating indicates S&P's expectation for average (30% to
50%) recovery in the event of a payment default.  If Polymer Group
proceeds with the Fiberweb acquisition, S&P expects to re-examine
recovery prospects under the new capital structure.

S&P expects to resolve the CreditWatch placement during the next
several weeks after reviewing Polymer Group's business and
financial strategies and determining whether and to what extent
these have changed following some recent senior management
changes.  S&P will also consider the expected costs and benefits
of the Fiberweb acquisition and review Polymer Group's financing
plan and prospective liquidity.

S&P could lower the ratings if the Fiberweb acquisition causes
leverage to increase or if we identify significant integration or
other risks associated with the transaction.  S&P could also lower
the ratings if Polymer Group's stand-alone performance weakens in
the absence of a transaction.

S&P could affirm the ratings if it regards the transaction as
beneficial to Polymer Group's business risk profile, and pro forma
credit measures do not weaken from current levels.


POLYPORE INTERNATIONAL: S&P Revises Outlook & Affirms 'B+' CCR
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its rating
outlook on Polypore International Inc. to positive from stable.
At the same time, S&P affirmed the ratings on the company,
including the 'B+' corporate credit rating.

"The outlook revision reflects Polypore's improving free cash flow
prospects and our expectation that the company's operating
performance and financial policy could lead to credit metrics that
support a higher rating," said Standard & Poor's credit analyst
Carol Hom.

The rating on Polypore reflect the filtration manufacturer's
"aggressive" financial risk profile, marked by high debt but
stable credit metrics, and its "weak" business risk profile, which
results from its participation in niche markets that are subject
to some technological and cyclicality risks.  These factors offset
Polypore's good market position and profitability.  Although the
company's quarterly performance has been somewhat volatile at
times, S&P expects its operating prospects to remain relatively
good for the remainder of 2013 and into next year.  S&P also
expects free operating cash flow to increase due to growth in
demand in Polypore's end markets and the company's lower capital
expenditure spending.

"Polypore is one of three major manufacturers operating in the
niche battery separator business.  The company manufactures
separators for lead-acid and lithium batteries (accounting for
slightly more than two-thirds of revenues), primarily for
transportation, industrial, and consumer applications.  It also
manufactures filtration membranes for various health care
applications and industrial processes.  We believe that the demand
for lead-acid battery separators, which tends to be for
replacements rather than new car batteries, will continue to be
relatively stable.  Furthermore, health care filtration
applications have historically been fairly resilient to economic
cycles, and the emerging markets should also contribute to
Polypore's growth opportunities," S&P noted.

The outlook is positive.  S&P could raise the rating if the
Polypore's free cash flow, operating performance, and financial
policies result in credit metrics that are, and will likely
remain, consistent with a higher rating, including total debt to
EBITDA of about 3.5x and FFO to total debt of about 20%.

"We could revise the outlook to stable if a cyclical slowdown
reduces activity in Polypore's end markets or if a change in
competitive conditions erodes the company's market position,
resulting in lower revenues and stretched credit metrics," said
Ms. Hom.  "This could occur if competitive pressures and lower-
than-expected capacity utilization on Polypore's facility result
in EBITDA margin contracting by more than 200 basis points, which
could cause leverage to exceed 4x for a prolonged period."


PROVIDENT COMMUNITY: Incurs $1.4 Million Net Loss in 2nd Qtr.
-------------------------------------------------------------
Provident Community Bancshares, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing a net loss to common shareholders of $1.45 million
on $2.51 million of total interest income for the three months
ended June 30, 2013, as compared with net income to common
shareholders of $24,000 on $2.79 million of total interest income
for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss to common shareholders of $1.91 million on $4.88 million of
total interest income, as compared with a net loss to common
shareholders of $178,000 on $5.79 million of total iterest income
for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $344.04
million in total assets, $337.53 million in total liabilities and
$6.51 million in total shareholders' equity.

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

                       http://is.gd/bRjWNi

                    About Provident Community

Rock Hill, South Carolina-based Provident Community Bancshares,
Inc., is the bank holding company for Provident Community Bank,
N.A.  Provident Community Bancshares has no material assets or
liabilities other than its investment in the Bank.  Provident
Community Bancshares' business activity primarily consists of
directing the activities of the Bank.

The Bank's operations are conducted through its main office in
Rock Hill, South Carolina and seven full-service banking centers,
all of which are located in the upstate area of South Carolina.
The Bank is regulated by the Office of the Comptroller of the
Currency, is a member of the Federal Home Loan Bank of Atlanta and
its deposits are insured up to applicable limits by the Federal
Deposit Insurance Corporation.  Provident Community Bancshares is
subject to regulation by the Federal Reserve Board.

Provident Community disclosed a net loss to common shareholders of
$598,000 in 2012, as compared with a net loss of $665,000 in 2011.

                           Consent Order

On Dec. 21, 2010, Provident Community Bank, N.A. entered into a
stipulation and consent to the issuance of a consent order with
the Office of the Comptroller of the Currency.

At Dec. 31, 2011, the Bank met each of the capital requirements
required by regulations, but was not in compliance with the
capital requirements imposed by the OCC in its Consent order.

The Bank is required by the consent order to maintain Tier 1
capital at least equal to 8% of adjusted total assets and total
capital of at least 12% of risk-weighted assets.  However, so long
as the Bank is subject to the enforcement action executed with the
OCC on Dec. 21, 2010, it will not be deemed to be well-capitalized
even if it maintains the minimum capital ratios to be well-
capitalized.  At Dec. 31, 2011, the Bank did not meet the higher
capital requirements required by the consent order and is
evaluating alternatives to increase capital.

"At December 31, 2012, the Bank met each of the capital
requirements required by regulations, but was not in compliance
with the capital requirements imposed by the OCC in its Consent
order."


QUANTUM FUEL: Incurs $4.5 Million Net Loss in Second Quarter
------------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., reported a net
loss attributable to stockholders of $4.56 million on $6.07
million of total revenue for the three months ended June 30, 2013,
as compared with a net loss attributable to stockholders of $7.06
million on $5.41 million of total revenue for the same period
during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss attributable to stockholders of $11.46 million on $10.48
million of total revenue, as compared with a net loss attributable
to stockholders of $14.88 million on $11.32 million of total
revenue for the same period a year ago.

"We are very pleased with the foundation that we have built to
date and the continued expansion and development of our natural
gas focused business," said Brian Olson, Quantum's president and
chief executive officer.  Mr. Olson continued, "We continue to add
and expand customer programs and are focused on leveraging this
foundation and fostering relationships with key partners to
maximize the opportunities in front of the Company."

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

                        http://is.gd/PKLjQB

                         About Quantum Fuel

Lake Forest, Cal.-based Quantum Fuel Systems Technologies
Worldwide, Inc. (Nasdaq: QTWW) develops and produces advanced
vehicle propulsion systems, fuel storage technologies, and
alternative fuel vehicles.  Quantum's portfolio of technologies
includes electronic and software controls, hybrid electric drive
systems, natural gas and hydrogen storage and metering systems and
other alternative fuel technologies and solutions that enable fuel
efficient, low emission, natural gas, hybrid, plug-in hybrid
electric and fuel cell vehicles.

Quantum Fuel disclosed a net loss attributable to stockholders of
$30.91 million in 2012 and a net loss attributable to common
stockholders of $38.49 million in 2011.

Haskell & White LLP, in Irvine, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company does not have sufficient existing sources of
liquidity to operate its business and service its debt obligations
for a period of at least twelve months.  These conditions, along
with the Company's working capital deficit and recurring operating
losses, raise substantial doubt about the Company's ability to
continue as a going concern.


QUEEN ELIZABETH REALTY: Files Schedules of Assets and Liabilities
-----------------------------------------------------------------
Queen Elizabeth Realty Corp. filed with the U.S. Bankruptcy Court
for the Southern District of New York its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property            $20,000,000.00
  B. Personal Property                 $3.99
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                            $12,000,000.00
  E. Creditors Holding
     Unsecured Priority
     Claims                                              0.00
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                              0.00
                                 -----------      -----------
        TOTAL                 $20,000,003.39   $12,000,000.00

Queen Elizabeth Realty Corp. filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 13-12335) on July 17, 2013.  Jeffrey Wu signed
the petition as president.  Judge Stuart M. Bernstein presides
over the case.  Jonathan S. Pasternak, Esq., at Delbello Donnellan
Weingarten Wise & Wiederkehr, LLP, serves as the Debtor's counsel.


QUEEN ELIZABETH REALTY: Delbello Donnellan Approved as Attorneys
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
entered an order on August 19 authorizing and approving the
retention of Delbello Donnellan Weingarten Wise & Wiederkehr, LLP
as attorneys for Queen Elizabeth Realty Corp., nunc pro tunc to
July 17, 2013.

Queen Elizabeth Realty Corp. filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 13-12335) on July 17, 2013.  Jeffrey Wu signed
the petition as president.  Judge Stuart M. Bernstein presides
over the case.  Jonathan S. Pasternak, Esq., at Delbello Donnellan
Weingarten Wise & Wiederkehr, LLP, serves as the Debtor's counsel.


RAMS ASSOCIATES: Gets OK to Hire Norris McLaughlin as Attorney
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey
entered an order on August 8, 2013, authorizing Rams
Associates, L.P. to employ Norris, McLaughlin & Marcus, PA as
its attorney.

Rams Associates LP, doing business as Jersey Shore Arena filed a
petition for Chapter 11 protection (Bankr. D.N.J. Case No. 13-bk-
25541) on July 16 in Trenton.  The petition was signed by John
Sabo as general partner.  Judge Christine M. Gravelle presides
over the case.  Norris Mclaughlin & Marcus, P.A., serves as the
Debtor's counsel.  The Debtor estimated assets and debts of at
least $10 million.


RESIDENTIAL CAPITAL: Judge Says He Will OK Disclosure Statement
---------------------------------------------------------------
Law360 reported that a New York bankruptcy judge said that he will
approve Residential Capital LLC's disclosure statement, allowing
it to begin the process of soliciting votes for its Chapter 11
plan and eventually provide some recovery to creditors with the
help of a $2.1 billion settlement.

According to the report, attorneys for ResCap resolved the
majority of the objections filed against its disclosure statement,
and the remaining were overruled by U.S. Bankruptcy Judge Martin
Glenn.

The report said Judge Glenn sought more clarity for voters with
respect to third-party releases.

                   About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.  Neither Ally
Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its mortgage servicing and origination platform assets to Ocwen
Loan Servicing, LLC and Walter Investment Management Corporation
for $3 billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Bankruptcy Creditors' Service, Inc., publishes RESIDENTIAL CAPITAL
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by affiliates of Residential Capital LLC and its
affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


RESIDENTIAL CAPITAL: Exclusive Periods Extension Approved
---------------------------------------------------------
BankruptcyData reported that the U.S. Bankruptcy Court approved
Residential Capital's motion to extend the exclusive period during
which the Company can file can file a Chapter 11 plan and solicit
acceptances thereof through and including, November 14, 2013 and
January 14, 2014, respectively.

As previously reported, "The Debtors have made remarkable progress
toward confirmation of a Chapter 11 Plan, and are prepared to
drive that process to conclusion. Mr. Kruger, the Debtors and
their advisors believe that it is appropriate under the unique
facts of these cases to further extend exclusivity to allow the
Debtors and the Creditors' Committee to prosecute the Plan through
confirmation without the potential distraction of competing plans.
Accordingly, the Debtors believe that a final extension of the
Exclusive Periods is warranted and is in the best interests of
these estates."

                   About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.  Neither Ally
Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its mortgage servicing and origination platform assets to Ocwen
Loan Servicing, LLC and Walter Investment Management Corporation
for $3 billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Bankruptcy Creditors' Service, Inc., publishes RESIDENTIAL CAPITAL
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by affiliates of Residential Capital LLC and its
affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


REUTAX AG: Files Chapter 15 Petition to Recover U.S. Assets
-----------------------------------------------------------
The administrator of Reutax AG is seeking U.S. recognition of
insolvency proceedings for Reutax in Germany and to protect assets
of the Debtor currently in the U.S.

Reutax provided information technology services to clients in
Germany, using free-lance information technology experts. The
Debtor was 60% owned by Contreg AG, an entity owned by the
Debtor's founder, Soheyl Ghaemian.  Hans-Peter Wild, through an
entity called Casun Invest AG, held a 40% equity stake in exchange
for a $40 million investment.

Faced with a liquidity squeeze, as well as EUR10 million in
liabilities to its IT consultants, the Debtor halted operations
and on March 20, 2013, filed a petition to open insolvency
proceedings over its assets.

Tobias Wahl was appointed the insolvency administrator in June
2013.  He filed a Chapter 15 petition for Reutax (Bankr. D. Del.
Case No. 13-12135) on Aug. 21, 2013.  The Debtor is estimated to
have assets and debt of $10 million to $50 million.

Mr. Wahl believes that Mr. Ghaemian used certain funds from the
Debtor to purchase a $9.1 million mansion located at 1278 Angelo
Drive in Beverly Hills, California and four luxury automobiles.

Mr. Ghaemian was subsequently arrested by German authorities in
early June 2013, in connection with the transactions involving the
Debtor's funds.

Mr. Wahl believes the loan for the Beverly Hills Mansion from East
West Bank is currently in default or will be so shortly, and the
bank will act promptly to enforce its rights under a $4.4 million
mortgage.  He believes that three of the luxury cars (a Rolls
Royce, Porsche and a Ferrari) remain in possession of Mr.
Ghaemian's sister.

Michael Joseph Custer, Esq., at Pepper Hamilton LLP, in
Wilmington, Delaware, serves as counsel to the foreign
representative and insolvency administrator for Reutax.

Bankruptcy Judge Mary F. Walrath presides over the case.  Mr. Wahl
has filed a motion for a Rule 2004 examination and scheduled a
hearing for Aug. 22.


REX SPIRITS: Case Summary & 8 Unsecured Creditors
-------------------------------------------------
Debtor: Rex Spirits, Inc.
          dba King REX Spirits
        14606 Pipeline Ave.
        Chino, CA 91710

Bankruptcy Case No.: 13-24063

Chapter 11 Petition Date: August 19, 2013

Court: United States Bankruptcy Court
       Central District of California (Riverside)

Judge: Scott C. Clarkson

Debtor's Counsel: M Jonathan Hayes, Esq.
                  SIMON RESNIK HAYES LLP
                  15233 Ventura Blvd Ste 250
                  Sherman Oaks, CA 91403
                  Tel: (818) 783-6251
                  Fax: (818) 783-6253
                  E-mail: jhayes@srhlawfirm.com

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

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

A list of the Company?s eight largest unsecured creditors, filed
together with the petition, is available for free at
http://bankrupt.com/misc/cacb13-24063.pdf

The petition was signed by Sal N. Ortiz, president.


S&K ATLANTIC: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: S&K Atlantic Petroleum, Inc.
        4517 North Dixie Highway
        Pompano Beach, FL 33064

Bankruptcy Case No.: 13-29653

Chapter 11 Petition Date: August 19, 2013

Court: United States Bankruptcy Court
       Southern District of Florida (Fort Lauderdale)

Judge: Raymond B. Ray

Debtor's Counsel: Michael D. Seese, Esq.
                  SEESE, P.A.
                  One East Broward Boulevard, Ste 700
                  Fort Lauderdale, FL 33301
                  Tel: (954) 745-5897
                  E-mail: mseese@seeselaw.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 Abdus Samad, president.


SALAMANOR INC.: Case Summary & 3 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Salamanor, Inc.
        824 Caldwell Road
        Wayne, PA 19087

Bankruptcy Case No.: 13-17242

Chapter 11 Petition Date: August 20, 2013

Court: U.S. Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Judge: Bruce I. Fox

Debtor's Counsel: Robert J. Lohr, II, Esq.
                  LOHR & ASSOCIATES, LTD.
                  1246 West Chester Pike, Suite 312
                  West Chester, PA 19382
                  Tel: (610) 701-0222
                  Fax: (610) 431-2792
                  E-mail: bob@lohrandassociates.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 largest unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/paeb13-17242.pdf

The petition was signed by Mark J. Bartosh, president.


SALEM COMMUNICATIONS: S&P Revises Outlook on 'B' Rating to Stable
-----------------------------------------------------------------
Standard & Poor's Ratings Services revised its 'B' rating outlook
on Camarillo, Calif.-based radio broadcasting company Salem
Communications Corp. (Salem) to stable from positive.

At the same time, S&P affirmed all existing ratings on the
company.

The outlook revision to stable reflects the increase in the
company's lease-adjusted debt to EBITDA to 5.9x for the 12 months
ended June 30, 2013, from 5.5x last year, resulting from the March
2013 refinancing and modest EBITDA declines in the most recent
quarter.

"Over the next 12 months, we believe the company could reduce debt
leverage modestly through EBITDA growth or debt reduction, but we
do not expect leverage to be at our low-5x threshold for an
upgrade," said Standard & Poor's credit analyst Chris Valentine.

Over the intermediate term, S&P could consider raising the rating
if positive operating trends continue and the company can reduce
leverage to its low-5x threshold.

"The 'B' rating and stable outlook on Salem reflect the company's
continued stable operating performance and our view that in 2013,
leverage will remain above our low-5x threshold for an upgrade.
Factors supporting our assessment of Salem's business risk profile
as "fair" include the potential for a resumption of negative
structural trends in radio, competition from larger rivals, and
advertising cyclicality.  Positive factors that somewhat temper
these weaknesses include the relative stability of cash flow from
fee-based sales of programming time blocks to external religious
programmers, a healthy EBITDA margin, and "adequate" liquidity.
Salem has a "highly leveraged" financial risk profile, in our
view, based on its high debt leverage and low, albeit improving,
EBITDA coverage of interest expense.  Our management and
governance assessment is "fair"," S&P said

Salem's more stable operation is its time block sales to external
programmers.  Its less stable revenue comes from traditional radio
advertising on its owned and operated radio stations, for which it
bears programming costs.  This revenue is directly exposed to
advertising demand cycles and structural trends.  The company also
operates certain lower-margin publishing assets, which have
modestly reduced its consolidated EBITDA margin compared with
pure-play radio broadcasting peers.  The company's EBITDA margin
was 22.3% for the 12 months ended June 30, 2013, down from 23.6% a
year ago.  An increase in marketing and promotional expenses and a
significant investment in the internet businesses caused the
decline.


SAN DIEGO HOSPICE: Ex Parte Application to Employ Foley Approved
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
has approved the Ex Parte Application of San Diego Hospice &
Palliative Care Corporation to confirm the Debtor's employment and
retention of Foley & Lardner LLP as special Medicare counsel.

San Diego Hospice & Palliative Care Corporation filed a Chapter 11
petition (Bankr. S.D. Cal. Case No. 13-01179) in San Diego on
Feb. 4, 2013.  The Debtor is the operator of the San Diego Hospice
and The Institute for Palliative Medicine, one of the largest
community-owned, not-for-profit hospices in the country.

The Debtor scheduled $20,369,007 in total assets and $14,888,058
in total liabilities.

Even before the bankruptcy filing, the Debtor has been under a
federal investigation, focusing whether it allowed patients to
stay in the program even when their diagnosis changed.  The Debtor
said that it will meet with government agencies to address their
concerns, explore partnerships with other health care
organizations, and work to restructure and resize San Diego
Hospice.  The Debtor said it has encouraged Scripps Health, the
region's largest provider of health care services, to enter the
hospice business.

Procopio, Cory, Hargreaves & Savitch LLP serves as counsel to the
Debtor.

On April 30, 2013, San Diego Hospice received Court authority to
sell its unused 24-bed hospice facility to Scripps Health for
$16.55 million.  Scripps made the opening bid of $10.7 million at
the auction that took place before the sale-approval hearing.  The
other bidder was Sharp Healthcare.  The sale is also subject to
approval by regulators in California.

In May 2013, San Diego Hospice and its creditors' committee
jointly filed a liquidating Chapter 11 plan and an explanatory
disclosure statement.


SAN DIEGO HOSPICE: U.S. Trustee Objects to Liquidating Plan
-----------------------------------------------------------
Tiffany L. Carroll, Acting United States Trustee for the Southern
District of California, objects to the First Amended Liquidating
Plan for San Diego Hospice & Palliative Care Corporation jointly
proposed by the Debtor and the Official Committee of Unsecured
Creditors.

According to the Acting United States Trustee, the Court should
not confirm the Plan because of the broad release, exculpation,
injunction, and indemnification contained in the Plan and the
Liquidating Trust Agreement.  A copy of the objection is available
at http://bankrupt.com/misc/sandiegohospice.doc560.pdf

As reported in the TCR on July 16, the Debtor and the Creditors
Committee scheduled a Sept. 4 confirmation hearing for approval of
the Chapter 11 plan they jointly proposed.  The bankruptcy court
in San Diego has approved the disclosure materials, allowing
creditors to vote on the liquidating plan.

The Plan's objective is to transfer all assets of the Debtor,
including, but not limited to, cash and all causes of action, to
the Liquidating Trust, which, through the Liquidating Trustee,
will liquidate the remaining non-cash assets, including the
prosecution of the causes of action that the Liquidating Trustee
chooses to pursue, and distribute the proceeds thereof to holders
of Allowed Claims in satisfaction of the Allowed Claims subject to
the satisfaction of the Liquidating Trust Expenses.

A copy of the First Amended Disclosure Statement is available at:

        http://bankrupt.com/misc/sandiegohospice.doc422.pdf

                      About San Diego Hospice

San Diego Hospice & Palliative Care Corporation filed a Chapter 11
petition (Bankr. S.D. Cal. Case No. 13-01179) in San Diego on
Feb. 4, 2013.  The Debtor is the operator of the San Diego Hospice
and The Institute for Palliative Medicine, one of the largest
community-owned, not-for-profit hospices in the country.

The Debtor scheduled $20,369,007 in total assets and $14,888,058
in total liabilities.

Even before the bankruptcy filing, the Debtor has been under a
federal investigation, focusing whether it allowed patients to
stay in the program even when their diagnosis changed.  The Debtor
said that it will meet with government agencies to address their
concerns, explore partnerships with other health care
organizations, and work to restructure and resize San Diego
Hospice.  The Debtor said it has encouraged Scripps Health, the
region's largest provider of health care services, to enter the
hospice business.

Procopio, Cory, Hargreaves & Savitch LLP serves as counsel to the
Debtor.

On April 30, 2013, San Diego Hospice received Court authority to
sell its unused 24-bed hospice facility to Scripps Health for
$16.55 million.  Scripps made the opening bid of $10.7 million at
the auction that took place before the sale-approval hearing.  The
other bidder was Sharp Healthcare.  The sale is also subject to
approval by regulators in California.

In May 2013, San Diego Hospice and its creditors' committee
jointly filed a liquidating Chapter 11 plan and an explanatory
disclosure statement.


SCOTTSDALE VENETIAN: Wants Solicitation Period Extended to Nov. 18
------------------------------------------------------------------
Scottsdale Venetian Village, LLC, asks the U.S. Bankruptcy Court
for the District of Arizona to extend the period in which only the
Debtor has the exclusive right to file a plan of reorganization,
and to solicit votes in favor of the plan, through and including
Nov. 18, 2013.  This is the Debtor's first request for an
extension of the exclusivity period.

According to papers filed with the Court on August 16, the
extension is necessary to allow the Debtor to obtain approval of
its First Amended Disclosure Statement, and thereafter to solicit
ballots and otherwise proceed towards confirmation of the Debtor's
pending First Amended Plan of Reorganization Dated Aug. 9, 2013.

A hearing to assess the adequacy of the Disclosure Statement is
set for Sept. 4, 2013.

According to papers filed with the Court, the Debtor intends to
pay the full amount of First National Bank of Hutchinson (FNBH)'s
Allowed Secured Claim, with interest, over a period of 12 years.
Any amount by which FNBH's Allowed Claim exceeds the value of its
collateral will be deemed to be an unsecured Claim, and treated as
part of Class 3-B (All Unsecured Claims Not Otherwise Classified
in the Plan).

The Days Inn Worldwide Note will be treated, and retired, in
accordance with its terms, but for the date upon which payment is
due in the event of acceleration.  In the event of an
acceleration, the Debtor will be permitted ninety ("90") days in
which to pay the remaining balance of the Days Inn Note.

Holders of Allowed Unsecured Claims in Class 3-B will be paid in
full, with interest accruing at the Plan Rate, in equal quarterly
installments commencing on the Effective Date and concluding on
the eighth anniversary of the Effective Date.  Any Insider that
holds a Claim included in this class will ot be paid anything on
account of such Claim until all other Claims against the Debtor
are paid in full.

Allowed Interests of Interest Holders in Class 4 will retain
their equity interests, and constitute the New Interest Holders in
the Reorganized Debtor.

The Plan will be funded by the operations of the Hotel and
Restaurant.  A copy of the First Amended Disclosure Statement is
available at:

      http://bankrupt.com/misc/scottsdalevenetian.doc124.pdf

                   About Scottsdale Venetian

Scottsdale Venetian Village, LLC, operates the Days Hotel located
at 5101 N. Scottsdale Road, in Scottsdale, Arizona.  The Company
also operates Papi Chulo's Mexican Grill & Cantina, located
immediately adjacent to the hotel.  The hotel consists of 211
guest rooms and, among other things, facilities for meetings and
banquets.

Scottsdale Venetian Village filed a Chapter 11 petition (Bankr. D.
Ariz. Case No. 13-02150) on Feb. 19, 2013, in Phoenix, estimating
at least $10 million in assets and less than $10 million in
liabilities.

The Debtor is represented by John J. Hebert, Esq., and Wesley D.
Ray at Polsinelli Shughart, P.C., in Phoenix.  Charles B. Foley,
CPA, PLLC serves as the Debtor's accountant.

The Plan of Reorganization provides for the payment of outstanding
obligations by the proceeds from the continued operation of Days
Hotel located at 5101 N. Scottsdale Road, in Scottsdale, Arizona,
and the adjacent Papi Chulo's Mexican Grill & Cantina.


SCOTTSDALE VENETIAN: Can Use FNBH Cash Collateral Until Sept. 30
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona, in a third
stipulated order, authorized Scottsdale Venetian Village, LLC, to
use cash collateral of First National Bank of Hutchinson during
the period of Aug. 1, 2013, through and including the earlier of
(a) 5:00 p.m. on Sept. 30, 2013; (b) the entry by the Bankruptcy
Court of an order modifying the terms of this Interim Order; (c)
the conversion of Debtor's case to a case under Chapter 7 of the
Bankruptcy Code; or (d) the appointment of a trustee or examiner
or other representative with expanded powers for the Debtor.

In addition to the Lender's post-petition lien on the Property and
Cash Collateral as provided in the Bankruptcy Code, as adequate
protection, the Lender's interests as of the Petition Date in the
Prepetition Collateral, Lender is granted, pursuant to Sections
361 and 363 of the Bankruptcy Code, continuing security interests
in and liens and mortgages upon all Postpetition Collateral, to
the extent of any diminution in value of the Prepetition
Collateral.

Although, pursuant to the foregoing paragraph, Lender will hold a
lien on the post-petition revenues generated through the operation
of the Restaurant, those revenues will not be considered "cash
collateral" within the meaning of 11 U.S.C. Section 363, and will
not be subject to the restrictions or protections specifically
afforded to cash collateral by the Bankruptcy Code.  The Debtor
will have the ability to use the Restaurant's revenues as it would
unencumbered cash, including, but not limited to, for the payment
of operating and maintenance expenses, administrative expenses,
and the costs attendant to pursuing confirmation of a plan of
reorganization.

In addition, the Debtor will make monthly adequate protection
payments to Lender in the amount of $5,500, which such payment
must be made no later than the tenth (10) day of each month, and
will be applied to post-petition interest accruing on the
Indebtedness.

                   About Scottsdale Venetian

Scottsdale Venetian Village, LLC, operates the Days Hotel located
at 5101 N. Scottsdale Road, in Scottsdale, Arizona.  The Company
also operates Papi Chulo's Mexican Grill & Cantina, located
immediately adjacent to the hotel.  The hotel consists of 211
guest rooms and, among other things, facilities for meetings and
banquets.

Scottsdale Venetian Village filed a Chapter 11 petition (Bankr. D.
Ariz. Case No. 13-02150) on Feb. 19, 2013, in Phoenix, estimating
at least $10 million in assets and less than $10 million in
liabilities.

The Debtor is represented by John J. Hebert, Esq., and Wesley D.
Ray at Polsinelli Shughart, P.C., in Phoenix.  Charles B. Foley,
CPA, PLLC serves as the Debtor's accountant.

The Plan of Reorganization provides for the payment of outstanding
obligations by the proceeds from the continued operation of Days
Hotel located at 5101 N. Scottsdale Road, in Scottsdale, Arizona,
and the adjacent Papi Chulo's Mexican Grill & Cantina.


SCOTTSDALE VENETIAN: Can Use ADOR Cash Collateral Until September
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona, in a
second stipulated order, authorized Scottsdale Venetian Village,
LLC, to use cash collateral of the Arizona Department of Revenue
("ADOR") during the period of Aug. 1, 2013, through and
including the earlier of (a) 5:00 p.m. on Sept. 30, 2013; (b) the
entry by the Court of an modifying the terms of the interim
Stipulated Order; (c) the conversion of the Debtor's bankruptcy
case to a case under Chapter 7 of the Bankruptcy Code; or (d) the
appointment of a trustee or examiner or other representative with
expanded powers for the Debtor.

In addition to any post-petition lien provided in the Bankruptcy
Code, ADOR is granted, pursuant to Sections 361 and 363 of the
Bankruptcy Code, nunc pro tunc from the Petition Date as adequate
protection for its interests in ADOR's Prepetition Collateral,
continuing security interests in and liens on all Postpetition
Collateral to the extent of any diminution in value of ADOR's
Prepetition Collateral.

Although, pursuant to the foregoing paragraph, ADOR may hold a
lien on the post-petition revenues generated through the operation
of the Restaurant, those revenues will not be considered "cash
collateral" within the meaning of 11 U.S.C. Section 363, and will
not be subject to the restrictions or protections specifically
afforded to cash collateral by the Bankruptcy Code.  The Debtor
will have the ability to use the Restaurant's revenues as it would
unencumbered cash, including, but not limited to, for the payment
of operating and maintenance expenses, administrative expenses,
and the costs attendant to pursuing confirmation of a plan of
reorganization.

                   About Scottsdale Venetian

Scottsdale Venetian Village, LLC, operates the Days Hotel located
at 5101 N. Scottsdale Road, in Scottsdale, Arizona.  The Company
also operates Papi Chulo's Mexican Grill & Cantina, located
immediately adjacent to the hotel.  The hotel consists of 211
guest rooms and, among other things, facilities for meetings and
banquets.

Scottsdale Venetian Village filed a Chapter 11 petition (Bankr. D.
Ariz. Case No. 13-02150) on Feb. 19, 2013, in Phoenix, estimating
at least $10 million in assets and less than $10 million in
liabilities.

The Debtor is represented by John J. Hebert, Esq., and Wesley D.
Ray at Polsinelli Shughart, P.C., in Phoenix.  Charles B. Foley,
CPA, PLLC serves as the Debtor's accountant.

The Plan of Reorganization provides for the payment of outstanding
obligations by the proceeds from the continued operation of Days
Hotel located at 5101 N. Scottsdale Road, in Scottsdale, Arizona,
and the adjacent Papi Chulo's Mexican Grill & Cantina.


SECUREALERT INC: Incurs $4.1 Million Net Loss in June 30 Quarter
----------------------------------------------------------------
SecureAlert, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $4.13 million on $2.68 million of total revenues for the three
months ended June 30, 2013, as compared with a net loss of $4.14
million on $2.99 million of total revenues for the same period
last year.

For the nine months ended June 30, 2013, the Company incurred a
net loss of $6.19 million on $13.08 million of total revenues, as
compared with a net loss of $7.72 million on $10.11 million of
total revenues for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $27.63
million in total assets, $9.73 million in total liabilities and
$17.90 million in total equity.

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

                         http://is.gd/ZPLQkk

Sandy, Utah-based SecureAlert, Inc., markets and deploys offender
management programs, combining patented GPS tracking technologies,
fulltime 24/7/365 intervention-based monitoring capabilities and
case management services.

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 Sept. 30, 2012, citing
losses, negative cash flows from operating activities, notes
payable in default and an accumulated deficit, which conditions
raise substantial doubt about its ability to continue as a going
concern.


SIMON WORLDWIDE: Incurs $897,000 Net Loss in Second Quarter
-----------------------------------------------------------
Simon Worldwide, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $897,000 on $0 of revenue for the three months ended June 30,
2013, as compared with a net loss of $378,000 on $0 of revenue for
the same period last year.

For the six months ended June 30, 2013, the Company reported a net
loss of $1.42 million on $0 of revenue, as compared with a net
loss of $842,000 on $0 of revenue for the same period during the
prior year.

The Company's balance sheet at June 30, 2013, showed $6.33 million
in total assets, $139,000 in total liabilities, all current, and
$6.19 million in total stockholders' equity.

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

                        http://is.gd/f6N3CO

                       About Simon Worldwide

Based in Los Angeles, Simon Worldwide, Inc. (OTC: SWWI) no longer
has any operating business.  Prior to August 2001, the Company
operated as a multi-national full-service promotional marketing
company, specializing in the design and development of high-impact
promotional products and sales promotions.  At Dec. 31, 2009,
the Company held an investment in Yucaipa AEC Associates, LLC, a
limited liability company that is controlled by the Yucaipa
Companies, a Los Angeles, California based investment firm.
Yucaipa AEC in turn principally held an investment in the common
stock of Source Interlink Companies, a direct-to-retail magazine
distribution and fulfillment company in North America, and a
provider of magazine information and front-end management services
for retailers and a publisher of approximately 75 magazine titles.
Yucaipa AEC held this investment in Source until April 28, 2009,
when Source filed a pre-packaged plan of reorganization under
Chapter 11 of the U.S. Bankruptcy Code.

Simon Worldwide disclosed a net loss of $1.52 million on $0
revenue for the year ended Dec. 31, 2012, as compared with a net
loss of $1.97 million on $0 revenue in 2011.


SOLAR POWER: Delays 2nd Quarter Form 10-Q for Accounting Issues
---------------------------------------------------------------
Solar Power, Inc., was unable to file its interim report on Form
10-Q for the three and six months ended June 30, 2013, within the
prescribed time period due to accounting issues related to its
Italian operations and subsequent delays in completing the
required consolidation under U.S. GAAP.

"The process of compiling and disseminating the information
required to be included in the Form 10-Q for the relevant fiscal
period, as well as the completion of the required review of its
financial information, could not be completed without incurring
undue hardship and expense," the Company said in a regulatory
filing with the U.S. Securities and Exchange Commission.

                          About Solar Power

Roseville, Cal.-based Solar Power, Inc., is a global solar
energy facility ("SEF") developer offering its own brand of high-
quality, low-cost distributed generation and utility-scale SEF
development services.  Primarily, the Company works directly with
and for developers around the world who hold large portfolios of
SEF projects for whom it serves as an engineering, procurement and
construction contractor.  The Company also performs as an
independent, turnkey SEF developer for one-off distributed
generation and utility-scale SEFs.

Solar Power disclosed a net loss of $25.42 million in 2012, as
compared with net income of $1.60 million in 2011.  The Company's
balance sheet at March 31, 2013, showed $152.26 million in total
assets, $131.07 million in total liabilities and $21.19 million in
total stockholders' equity.

Crowe Horwath LLP, in San Francisco, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has incurred a current year net loss of $25.4
million, has an accumulated deficit of $23.8 million, has
experienced a significant reduction in working capital, has past
due related party accounts payable and material adverse change and
default clauses in certain debt facilities under which the banks
can declare amounts immediately due and payable.  Additionally,
the Company's parent company LDK Solar Co., Ltd, has experienced
financial difficulties, which among other items, has caused delays
in project financing.  These matters raise substantial doubt about
the Company's ability to continue as a going concern.


SPANISH BROADCASTING: Reports $1.2 Million Net Income in Q2
-----------------------------------------------------------
Spanish Broadcasting System, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing net income of $1.25 million on $36.06 million of net
revenue for the three months ended June 30, 2013, as compared with
a net loss of $301,000 on $34.61 million of net revenue for the
same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $1.50 million on $75.17 million of net revenue, as
compared with a net loss of $3.96 million on $66.70 million of net
revenue for the same period last year.

The Company's balance sheet at June 30, 2013, showed $464.65
million in total assets, $424.46 million in total liabilities,
$92.34 million in cumulative exchangeable redeemable preferred
stock and a $52.15 million total stockholders' deficit.

"We generated healthy gains in our operating profitability during
the second quarter, leading to a 26 percent increase in our OIBDA
for the first half of the year," commented Raul Alarcon, Jr.,
Chairman and CEO.  "We are encouraged with the overall advertising
environment across our markets, and we are confident in our
ability to continue to convert our audience shares into financial
gains.  We are benefiting from the strategic investments we have
made in our content, distribution and sales resources.  At the
same time, we have maintained a disciplined approach to managing
our expenses, as reflected in our improving profitability.  As
advertisers increasingly recognize Spanish-language media as a
highly effective channel to promote their brands, we remain
focused on leveraging our diversified media platform to garner a
greater share of advertising budgets."

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

                         http://is.gd/QTkBHY

                      About Spanish Broadcasting

Headquartered in Coconut Grove, Florida, Spanish Broadcasting
System, Inc. -- http://www.spanishbroadcasting.com/-- owns and
operates 21 radio stations targeting the Hispanic audience.  The
Company also owns and operates Mega TV, a television operation
with over-the-air, cable and satellite distribution and affiliates
throughout the U.S. and Puerto Rico.  Its revenue for the twelve
months ended Sept. 30, 2010, was approximately $140 million.

Spanish Broadcasting reported a net loss available to common
stockholders of $11.21 million in 2012, as compared with net
income available to common stockholders of $13.77 million during
the prior year.

                        Bankruptcy Warning

"We have experienced a decline in the level of business activity
of our advertisers, which has, and could continue to have, an
adverse effect on our revenues and profit margins.  In addition,
some of our advertisers and clients could experience serious cash
flow problems due to the slow economic recovery.  As a result,
they may attempt to renegotiate or cancel orders with us or alter
payment terms.  Our advertisers may be forced to reduce their
production, shut down their operations or file for bankruptcy
protection, which could have a material adverse effect on our
business.  Any further deterioration in the U.S. economy, any
worsening of conditions in the credit markets, or even the fear of
such a development, could intensify the adverse effects of these
difficult market conditions on our results of operations," the
Company said in its annual report for the year ended Dec. 31,
2012.

                           *     *     *

In November 2010, Moody's Investors Service upgraded the corporate
family and probability of default ratings for Spanish Broadcasting
System, Inc., to 'Caa1' from 'Caa3' based on improved free cash
flow prospects due to better than anticipated cost cutting and the
expiration of an unprofitable interest rate swap agreement.
Moody's said Spanish Broadcasting's 'Caa1' corporate family rating
incorporates its weak capital structure, operational pressure in
the still cyclically weak economic climate, generally narrow
growth prospects (though Spanish language is the strongest growth
prospect) given the maturity and competitive pressures in the
radio industry, and the June 2012 maturity of its term loan
magnify this challenge.

In July 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on Miami, Fla.-based Spanish Broadcasting
System Inc. to 'B-' from 'CCC+', based on continued improvement in
the company's liquidity position.  "The rating action reflects
S&P's expectation that, despite very high leverage, SBS will have
adequate liquidity over the intermediate term to meet debt
maturities, potential swap settlements, and operating needs until
its term loan matures on June 11, 2012," said Standard & Poor's
credit analyst Michael Altberg.

As reported by the TCR on Dec. 4, 2012, Standard & Poor's Ratings
Services revised its rating outlook on Miami, Fla.-based Spanish
Broadcasting System Inc. (SBS) to negative from stable.  "We also
affirmed our existing ratings on the company, including the 'B-'
corporate credit rating," S&P said.


SR REAL ESTATE: 6,400-Acre Calif. Property in Third Bankruptcy
--------------------------------------------------------------
SR Real Estate Holdings, LLC, owner of 14 parcels of real property
totaling 6,400 acres straddling Santa Cruz and Santa Clara
counties, filed a Chapter 11 petition (Bankr. N.D. Cal. Case No.
13-54471) in San Jose, California, on Aug. 20, 2013.  The Debtor
estimated that its assets total at least $10 million and
liabilities are at least $500 million.

This is the third bankruptcy filed with respect to the property.
The prior owner, Sargent Ranch, LLC, filed Chapter 11 cases in
January 2010 (Bankr. S.D. Cal. Case No. 10-00046) and November
2011 (Bankr. S.D. Cal. Case No. 11-18853).   The second bankruptcy
case was dismissed in February 2012.

The new owner filed a bankruptcy case to prevent a foreclosure by
the holders of the first deed of trust to preserve value for the
benefit of all creditors and interest holders.  The Debtor says
this bankruptcy will be far different than the prior bankruptcies
as the Debtor intends to promptly propose a plan of reorganization
that preserves the significant value of the property for all
creditors.

The property was initially acquired by SR LLC in or around May of
2000 for the purchase price of approximately $17,000,000.

Initially acquired to be developed into residential homes and
ranches along with a golf course and other commercial
opportunities, SR LLC has sought to expand the potential uses of
the property.  These uses included a possible sale of a
portion of the property to a Native American Tribe for development
as a casino, the construction of a sand quarry, possible oil
reserves, the potential for a solar power facility, the sale of
riparian and other environmental credits, liquid asphalt
extraction, and residential, industrial and commercial development
opportunities.

The Debtor intends to promptly propose and seek confirmation of a
viable plan of reorganization that will avoid the pitfalls of the
prior plans proposed by SR LLC because it will be backed by
substantial funds available at confirmation.  The Debtor intends
to proceed on the schedule required of single asset real estate
debtors if not even faster.

Victor A. Vilaplana, Esq., at Foley and Lardner, serves as counsel
to the Debtor.  The Debtor raised $350,000 to fund the retainer of
the Debtor's proposed counsel.


SR REAL ESTATE: Sec. 341(a) Meeting of Creditors on Sept. 25
------------------------------------------------------------
There's a meeting of creditors of SR Real Estate Holdings, LLC, on
Sept. 25, 2013, at 9:30 a.m.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.  All
creditors are invited, but not required, to attend.  This meeting
of creditors offers the one opportunity in a bankruptcy proceeding
for creditors to question a responsible office of the Debtor under
oath about the company's financial affairs and operations that
would be of interest to the general body of creditors.

Proofs of claim are due Dec. 24, 2013.

SR Real Estate Holdings, LLC, owner of 14 parcels of real property
totaling 6,400 acres straddling Santa Cruz and Santa Clara
counties, filed a Chapter 11 petition (Bankr. N.D. Cal. Case No.
13-54471) in San Jose, California, on Aug. 20, 2013.  The Debtor
estimated that its assets total at least $10 million and
liabilities are at least $500 million.  Victor A. Vilaplana, Esq.,
at Foley and Lardner, serves as counsel to the Debtor.

This is the third bankruptcy filed with respect to the property.
The prior owner, Sargent Ranch, LLC, filed Chapter 11 cases in
January 2010 (Bankr. S.D. Cal. Case No. 10-00046-PB) and November
2011 (Bankr. S.D. Cal. Case No. 11-18853).  The second bankruptcy
case was dismissed in February 2012.


SR REAL ESTATE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: SR Real Estate Holdings, LLC
        29 Parkside Drive
        Palo Alto, CA 94306

Bankruptcy Case No.: 13-54471

Chapter 11 Petition Date: August 20, 2013

Court: U.S. Bankruptcy Court
       Northern District of California (San Jose)

Judge: Charles Novack

Debtor's Counsel: Victor A. Vilaplana, Esq.
                  FOLEY AND LARDNER, LLP
                  402 W Broadway #2100
                  San Diego, CA 92101
                  Tel: (619) 234-6655
                  E-mail: vavilaplana@foley.com

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

Estimated Debts: $500,000,001 to $1 billion

The petition was signed by Norman Adams, manager.

Debtor's List of Its 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Enderley Limited                   --                 $103,654,918
c/o Kevin Perks
P.O. Box 665
Ramsey, Isle of Man IM99 4PD

Nailder Investments, Ltd           --                  $54,127,895
c/o Basel Trust Corporation
1st Floor; Int'l House; 41 The Parade
St. Helier, Jersey, Channel
Isla JE2 3QQ

Sargent Ranch Management Company,  --                  $46,880,104
LLC
c/o Howard Justus
1565 Hotel Circle South, Suite 310
San Diego, CA 92108

ERG, Inc., Retirement Trust        --                  $27,063,947
c/o Burton O. Benson, Trustee
900 Stanford Avenue
Oakland, CA 94608

Shazara                            --                  $27,063,947
c/o Nerine Trust Company, Ltd.
Nerine House, P.O. Box 434
St. Georges Place
St Peter Port, Huernsey, UK
GY1 3ZG

Goldfinger                         --                  $23,545,634
c/o Basel Trust Corporation
1st Floor; Int'l House; 41 The Parade
St. Helier, Jersey, Channel
Isla JE2 3QQ

Cavalier Corp. Ltd.                --                  $23,004,355
c/o Stephen Kaufhold
388 Market Street, Suite 1300
San Francisco, CA 94111

ERG, BOB Retirement Trust          --                  $21,651,158
c/o Burton O. Benson, Trustee
900 Stanford Avenue
Oakland, CA 94608

Link ? Up                          --                  $20,297,961
c/o Nerine Trust Company Ltd.
Nerine House PO Box 434
St. Georges Pl
St. Peter Port, Guernsey, UK
GY1 3ZG

DACA 2010L L.P.                    --                  $17,965,004
c/o Howard Justus
1565 Hotel Circle South, Suite 310
San Diego, CA 92108

Paul Pagnini, Trustee              --                  $17,591,566
56 Red Pine Court
Danville, CA 94506

Frederic Sylvester, Trustee        --                  $13,531,974
P.O. Box 2483
Olympic Valley, CA 96146

Jocelyn Sylvester Herail, Trustee  --                  $13,531,974
Herail Family Trust, dated
May 19, 1990
9 Acacia Drive
Tiburon, CA 94920

Cavalier Corp. Ltd.                --                  $10,825,579
c/o Stephen Kaufhold
388 Market Street, Suite 1300
San Francisco, CA 94111

Michael Thompson                   --                  $10,825,579
818 Kalthoff Common
Livermore, CA 94550

New Process Industries             --                  $10,825,579
c/o Burton O. Benson
900 Stanford Avenue
Oakland, CA 94608

Avillia Thompson, LP               --                   $9,472,382
c/o Michael Thompson
818 Kalthoff Common
Livermore, CA 94550

Enderley Limited                   --                   $8,119,184
c/o Kevin Perks
P.O. Box 665
Ramsey, Isle of Man IM99 4PD

ERG, Inc., Retirement Trust        --                   $5,703,176
c/o Burton O. Benson, Trustee
900 Stanford Avenue
Oakland, CA 94608

Ricardo Pimienta                   --                   $4,562,541
205 Dublin Street
San Francisco, CA 94112


STELERA WIRELESS: Wants to Employ ALCS as Official Noticing Agent
-----------------------------------------------------------------
Stelera Wireless, LLC, seeks the approval of an agreement with
American Legal Claim Services, LLC ("ALCS") as the official
noticing agent in the Chapter 11 case to, among other things,
perform certain noticing functions and perform such other services
requested by the Debtor in accordance with the Agreement,
retroactive to July 18.

To the best of ALCS's knowledge, it is a "disinterested person" as
that term is defined in 11 U.S.C. Section 101(14).

Stelera Wireless, LLC, filed a Chapter 11 petition (Bankr. W.D.
Okla. Case No. 13-13267) on July 18, 2013.  Tim Duffy signed the
petition as chief technology officer/manager.  Judge Niles L.
Jackson presides over the case.  The Debtor estimated assets and
debts of at least $10 million.  Christensen Law Group, PLLC,
serves as the Debtor's primary counsel.  Mulinix Ogden Hall &
Ludlam, PLLC, serves as additional bankruptcy counsel.


STELERA WIRELESS: Wants to Employ Wilkinson as Special FCC Counsel
------------------------------------------------------------------
Stelera Wireless, LLC, asks the U.S. Bankruptcy Court for the
Western District of Oklahoma for authorization to employ Wilkinson
Barker Knauer, LLP, as special FCC counsel, retroactive to
July 18.  Wilkinson will give advice to the Debtor respecting FCC
issues as may arise concerning Debtor, including without
limitation the sale of some or all of the FCC Licenses under
11 U.S.C. Section 363(f).

The Debtor proposes to compensate Wilkinson at its normal hourly
billing rates, plus its actual and necessary expenses.

The Debtor and Wilkinson believe that Wilkinson does not represent
any interest adverse to Debtor, or to the estate in the matters
upon which it is to be engaged.

Stelera Wireless, LLC, filed a Chapter 11 petition (Bankr. W.D.
Okla. Case No. 13-13267) on July 18, 2013.  Tim Duffy signed the
petition as chief technology officer/manager.  Judge Niles L.
Jackson presides over the case.  The Debtor estimated assets and
debts of at least $10 million.

Christensen Law Group, PLLC, serves as the Debtor's primary
counsel.  Mulinix Ogden Hall & Ludlam, PLLC, serves as additional
bankruptcy counsel.


STEREOTAXIS INC: Incurs $3 Million Net Loss in 2nd Quarter
----------------------------------------------------------
Stereotaxis, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $3 million on $9.73 million of total revenue for the three
months ended June 30, 2013, as compared with net income of $2.80
million on $10.51 million of total revenue for the same period
during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $7.92 million on $18.14 million of total revenue, as
compared with a net loss of $3 million on $22.79 million of total
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $23.99
million in total assets, $49.63 million in total liabilities and a
$25.63 million total stockholders' deficit.

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

                         http://is.gd/Pu8sav

                         About Stereotaxis

Based in St. Louis, Mo., Stereotaxis, Inc., designs, manufactures
and markets the Epoch Solution, which is an advanced remote
robotic navigation system for use in a hospital's interventional
surgical suite, or "interventional lab", that the Company believes
revolutionizes the treatment of arrhythmias and coronary artery
disease by enabling enhanced safety, efficiency and efficacy for
catheter-based, or interventional, procedures.

For the year ended Dec. 31, 2011, Ernst & Young LLP, in St. Louis,
Missouri, expressed substantial doubt about Stereotaxis' ability
to continue as a going concern.  The independent auditors noted
that the Company has incurred recurring operating losses and has a
working capital deficiency.

The Company incurred a net loss of $9.23 million in 2012, as
compared with a net loss of $32.03 million in 2011.


SUNRISE REAL ESTATE: Delays Form 10-Q for Second Quarter
--------------------------------------------------------
Sunrise Real Estate Group, Inc., said it will be delayed in the
filing of its Form 10-Q for the period ended June 30, 2013, due to
a delay in the preparation of its financial statements.

                     About Sunrise Real Estate

Headquartered in Shanghai, the People's Republic of China, Sunrise
Real Estate Group, Inc. was initially incorporated in Texas on
Oct. 10, 1996, under the name of Parallax Entertainment, Inc.
On Dec. 12, 2003, Parallax changed its name to Sunrise Real
Estate Development Group, Inc.  On April 25, 2006, Sunrise Estate
Development Group, Inc., filed Articles of Amendment with the
Texas Secretary of State, changing the name of Sunrise Real Estate
Development Group, Inc. to Sunrise Real Estate Group, Inc.,
effective from May 23, 2006.

The Company and its subsidiaries are engaged in the property
brokerage services, real estate marketing services, property
leasing services and property management services in China.

Sunrise Real Estate incurred a net loss of US$3.47 million on
US$8.52 million of net revenues for the year ended Dec. 31, 2012,
as compared with a net loss of US$1.15 million on US$8.97 million
of net revenues for the year ended Dec. 31, 2011.  As of March 31,
2013, the Company had $50.79 million in total assets, $46.81
million in total liabilities and $3.98 million in total
shareholders' equity.

Finesse CPA, P.C., in Chicago, Illinois, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that
the Company has a working capital deficiency, accumulated deficit
from recurring net losses for the current and prior years, and
significant short-term debt obligations currently in default or
maturing in less than one year.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


TELKONET INC: Incurs $749,000 Net Loss in Second Quarter
--------------------------------------------------------
Telkonet, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common stockholders of $749,499 on $3.59 million
of total net revenue for the three months neded June 30, 2013, as
compared with a net loss attributable to common stockholders of
$66,929 on $3.46 million of total net revenue for the same period
last year.

For the six months ended June 30, 2013, the Company reported a net
loss attributable to common stockholders of $1.33 million on $6.72
million of total net revenue, as compared with a net loss
attributable to common stockholders of $986,506 on $5.39 million
of total net revenue for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $14.55
million in total assets, $5.89 million in total liabilities, $3.51
million in total redeemable preferred stock and $5.14 million in
total stockholders' equity.

"While we are very pleased with our growth performance as
evidenced by our quarter-over-quarter increasing revenue, the
second quarter was also about the considerable momentum that our
energy management technology is gaining throughout the industry,"
stated Jason Tienor, CEO of Telkonet.

"As early as twelve months ago, a significant portion of our
business came from the hospitality industry; however, we now have
multiple revenue channels that contain major opportunities in the
educational, military, healthcare and public housing markets.
Combined with the strategic relationships that we have entered
into and the new ones that we continue to develop, I believe the
outlook for continuing growth is extremely positive.  As we enter
the second half of 2013 and beyond, our focus remains on not only
increasing revenue and market share, but also executing our
business model profitably," added Tienor.

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

                        http://is.gd/wnUwEy

                           About Telkonet

Milwaukee, Wisconsin-based Telkonet, Inc., is a clean technology
company that develops and manufactures proprietary energy
efficiency and smart grid networking technology.

Telkonet disclosed net income of $390,080 on $12.75 million of
total net revenue for the year ended Dec. 31, 2012, as compared
with a net loss of $1.90 million on $11.18 million of total net
revenue during the prior year.

Baker Tilly Virchow Krause, LLP, in Milwaukee, Wisconsin, issued
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company has a history of operating losses
and negative cash flows from operations, and an accumulated
deficit of $117,954,116 that raise substantial doubt about the
Company's ability to continue as a going concern.


TOOELE COUNTY, UTAH: Approves Tax Hike to Prevent Bankruptcy
------------------------------------------------------------
Cathy McKitrick, writing for The Salt Lake Tribune, reported that
for the first time in 27 years, Tooele County commissioners
approved a property tax increase, seemingly the only option left
to prevent a slide toward bankruptcy.

According to the report, more than 150 residents filled the
Convention Center at the county's Deseret Peak Complex, speaking
both for and against the 66 percent bump that boosts property tax
on a $150,000 home by about $73 per year and $133 on a $150,000
business.

For homeowners, it means a 5 percent to 7 percent increase on
their overall tax bill depending on where they live in the county.
The tax increase will bring in an additional $2.6 million per
year, the report said.

All three commissioners approved the tax hike, the report related.
In explaining his vote, Commissioner Jerry Hurst lamented the
layoffs that had to occur so far to make up for shortfalls and
said that budget trims spanned several years, but that now it was
necessary for everyone to pay their share -- about $6 per month on
a $150,000 home.

The report said several factors drove Tooele County into fiscal
crisis:

   (1) Hazardous waste mitigation fees dwindled from $13 million
in 2005 to $4.3 million in 2012, and revenue from chemical-weapon
disposal dried up altogether.

   (2) Federal grants and payments in lieu of taxes (PILT) shrank
due to the 2013 sequester.

   (3) Between 2009 and 2012, the county subsidized operations at
Deseret Peak from internal restricted accounts, racking up a $6.5
million debt

   (4) Projected revenue from leasing jail beds to federal inmates
fell short.


TRANS ENERGY: Incurs $2.6 Million Net Loss in Second Quarter
------------------------------------------------------------
Trans Energy, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.61 million on $4.67 million of revenues for the three months
ended June 30, 2013, as compared with a net loss of $1.87 million
on $2.46 million of revenues for the same period a year ago.

For the six months ended June 30, 2013, the Company reported a net
loss of $5.31 million on $8.28 million of revenues, as compared
with a net loss of $3.36 million on $5.38 million of revenues for
the same period during the prior year.

The Company's balance sheet at June 30, 2013, showed $88.89
million in total assets, $85.48 million in total liabilities and
$3.40 million in total stockholders' equity.

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

                        http://is.gd/RpV5jA

                         About Trans Energy

St. Mary's, West Virginia-based Trans Energy, Inc. (OTC BB: TENG)
-- http://www.transenergyinc.com/-- is an independent energy
company engaged in the acquisition, exploration, development,
exploitation and production of oil and natural gas.  Its
operations are presently focused in the State of West Virginia.

In its audit report on the Company's 2011 results, Maloney +
Novotny, LLC, in Cleveland, Ohio, noted that the Company has
generated significant losses from operations and has a working
capital deficit of $18.37 million at Dec. 31, 2011, which together
raises substantial doubt about the Company's ability to continue
as a going concern.


TRIUS THERAPEUTICS: Faces Lawsuit Over Cubit Merger Plans
---------------------------------------------------------
A lawsuit was filed in the Court of Chancery of the State of
Delaware against Trius, and each member of Trius' board of
directors, and Cubist Pharmaceuticals, Inc.  The action was
brought by John K. Weeks, Jr., and Lynn Weeks, who claim to be
stockholders of Trius, on their own behalf, and seeks
certification as a class action on behalf of all of Trius'
stockholders.

The complaint alleges that the defendants breached their fiduciary
duties, or aided and abetted the breach of fiduciary duties, owed
to Trius' stockholders in connection with the Offer and the
Merger.  The complaint seeks injunctive relief enjoining the Offer
and the Merger, or, in the event the Offer or the Merger has been
consummated prior to the court's entry of final judgment,
rescinding the Offer and the Merger.  The complaint also seeks an
accounting for all damages and an award of costs, including a
reasonable allowance for attorneys' and experts' fees and
expenses.

As reported in the TCR on Aug. 7, 2013, Cubist and its wholly-
owned subsidiary, BRGO Corporation, entered into an Agreement and
Plan of Merger with Trius which was approved by the boards of
directors of the companies.  Pursuant to the Merger Agreement,
BRGO will commence a tender offer to purchase all of the issued
and outstanding shares of Trius common stock for (a) $13.50 per
share in cash, plus (b) one non-transferrable contingent value
right for each share of Trius common stock, which represents the
contractual right to receive up to $2.00 per share upon the
achievement of certain milestones.  If successful, the Offer will
be followed by a merger of BRGO with and into Trius.

                      About Trius Therapeutics

San Diego, Calif.-based Trius Therapeutics, Inc. (Nasdaq: TSRX) --
http://www.triusrx.com/-- is a biopharmaceutical company focused
on the discovery, development and commercialization of innovative
antibiotics for serious, life-threatening infections.  The
Company's first product candidate, torezolid phosphate, is an IV
and orally administered second generation oxazolidinone being
developed for the treatment of serious gram-positive infections,
including those caused by MRSA.  In addition to the company's
torezolid phosphate clinical program, it is currently conducting
two preclinical programs using its proprietary discovery platform
to develop antibiotics to treat infections caused by gram-negative
bacteria.

Trius Therapeutics incurred a net loss of $53.92 million in 2012,
a net loss of $18.25 million in 2011 and a $23.86 million net loss
in 2010.

As of June 30, 2013, the Company had $74.05 million in total
assets, $19.37 million in total liabilities and $54.68 million in
total stockholders' equity.


TWIN DEVELOPMENT: Gets OK to Hire Legate as Special Counsel
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
authorized Twin Development LLC to employ Robert J. Legate and
Legate Law Corporation, as its special counsel, effective
retroactively as of March 29, 2013.

The professional services Mr. Legate will perform are related to
the prosecution of the claims against La Jolla Bank, Rick Hall,
and Martin Rodriguez as counsel of record in a pending state court
action.

Mr. Legate will work on a contingency fee basis of 40% to 45%
of any recovery from the state action.

The Court ruled that pursuant to the United States Trustee's
Statement of Position dated July 24, 2013:

-- the Office of the U.S. Trustee has no objection to the
   employment of the Firm provided that any costs billed to the
   Debtor are actual and necessary costs, copy costs and
   facsimile costs billed to the Debtor do not exceed the
   ceilings that have been established without a showing of good
   cause, and if the Firm utilizes the services of professionals
   expert witnesses, consultants) the Court must authorize the
   employment.

-- The Debtor can only provide reimbursement for expenses that
   are actual and necessary pursuant to 11 U.S.C. Section 330,
   and the Debtor cannot be responsible for costs that are
   considered overhead costs for the Firm.  Word processing
   services as well as secretarial overtime costs would be
   considered overhead costs to the Firm and cannot be billed to
   the Debtor.

-- an objection ceiling has been established for in house
   expenses with photocopies at actual cost of 20 cents per
   pages, whichever is less, without a showing of good cause, and
   facsimile charges at actual cost or $1.00 per page for
   outgoing transmissions and 20 cents per page for incoming
   transmissions, whichever is less, without a showing of good
   cause.

The Legate firm may be reached at:

         Robert J. Legate, Esq.
         Christina B. Yee, Esq.
         5000 Birch Street, Suite 405
         East Tower
         Newport Beach, CA  92660
         Tel: 949-724-1770
         Fax: 949-724-1717
         E-mail: RLegate@LegateLaw.com
                 CYee@LegateLaw.com

Twin Development, LLC, filed a Chapter 11 petition (Bankr. S.D.
Cal. Case No. 13-02719) on March 19, 2013.  The petition was
signed by Wallace Benwart as manager.  The Debtor scheduled assets
of $55,800,000 and liabilities $38,027,600.

The Debtor is represented by:

   James Andrew Hinds, Jr., Esq.
   Paul Shankman, Esq.
   HINDS SHANKMAN, LLP
   21515 Hawthorne Blvd., Suite 1150
   Torrance, CA 90503
   Tel: (310) 316-0500
   Fax: (310) 792-5977


U.S. INFRASTRUCTURE: S&P Withdraws 'B+' Corporate Credit Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'B+' corporate
credit rating on Indianapolis-based utility line-locating service
United States Infrastructure Corp. and the 'BB-' rating on the
company's existing rated debt (which has been repaid).  The rating
withdrawal follows the completed acquisition by Leonard Green
Partners L.P. through a recapitalization comprising a $75 million
revolving credit facility, a $430 million first-lien term loan,
and a $165 million second-lien term loan.  USIC Holdings Inc. (the
new rated entity) is the borrower at transaction close, and United
States Infrastructure Corp. is the guarantor.


UNITED BANCSHARES: Posts $96,000 Net Income in 2nd Quarter
----------------------------------------------------------
United Bancshares, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $95,977 on $700,383 of total interest income for the
three months ended June 30, 2013, as compared with a net loss of
$236,896 on $778,946 of total interest income for the same period
last year.

For the six months ended June 30, 2013, the Company reported a net
loss of $242,810 on $1.41 million of total interest income, as
compared with a net loss of $474,705 on $1.58 million of total
interest income for the same period a year ago.

As of June 30, 2013, the Company had $61.59 million in total
assets, $57.82 million in total liabilities and $3.77 million in
total shareholders' equity.

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

                       http://is.gd/C3mG0R

                      About United Bancshares

Located in Philadelphia, Pennsylvania, United Bancshares, Inc., is
an African American controlled and managed bank holding company
for United Bank of Philadelphia, a commercial bank chartered in
1992 by the Commonwealth of Pennsylvania, Department of Banking.

United Bancshares reported a net loss of $1.01 million on $3.08
million of total interest income for the year ended Dec. 31, 2012,
as compared with a net loss of $1.03 million on $3.30 million of
total interest income for the year ended Dec. 31, 2011.

McGladrey LLP, in Blue Bell, Pennsylvania, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company's regulatory capital amounts and ratios are below
the required levels stipulated with Consent Orders between the
Company and its regulators under the regulatory framework for
prompt corrective action.  Failure to meet the capital
requirements exposes the Company to regulatory sanctions that may
include restrictions on operations and growth, mandatory asset
disposition, and seizure of the Company.  These matters raise
substantial doubt about the ability of the Company to continue as
a going concern."


UNIVERSAL SOLAR: Incurs $257,000 Net Loss in Second Quarter
-----------------------------------------------------------
Universal Solar Technology, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $257,377 on $0 of sales for the three
months ended June 30, 2013, as compared with a net loss of
$350,852 on $243,163 of sales for the same period during the prior
year.

For the six months ended June 30, 2013, the Company reported a net
loss of $1.07 million on $0 of sales, as compared with a net loss
of $789,842 on $618,198 of sales for the same period during the
prior year.

The Company's balance sheet at June 30, 2013, showed $5.56 million
in total assets, $15.93 million in total liabilities and a $10.36
million total stockholders' deficiency.

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

                         http://is.gd/2NMVw3

                         About Universal Solar

Headquartered in Zhuhai City, Guangdong Province, in the People's
Republic of China, Universal Solar Technology, Inc., was
incorporated in the State of Nevada on July 24, 2007.  It operates
through its wholly owned subsidiary, Kuong U Science & Technology
(Group) Ltd., a company incorporated in Macau, the People's
Republic of China on May 10, 2007, and its subsidiary, Nanyang
Universal Solar Technology Co., Ltd., a wholly foreign owned
enterprise registered on Sept. 8, 2008 under the wholly foreign-
owned enterprises laws of the PRC.

The Company primarily manufactures, markets and sells silicon
wafers to manufacturers of solar cells.  In addition, the Company
manufactures photovoltaic modules with solar cells purchased from
third parties.

Universal Solar disclosed a net loss of $5.66 million on $649,616
of sales for the year ended Dec. 31, 2012, as compared with a net
loss of $2.70 million on $3.28 million of sales during the prior
year.

Paritz & Company, P.A., in Hackensack, New Jersey, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has not generated cash from its operation, has
stockholders' deficiency of $9,191,918 and has incurred net loss
of $9,887,181 since inception.  These circumstances, among others,
raise substantial doubt about the Company's ability to continue as
a going concern.


VAUGHAN COMPANY: Trustee Barred From Amending Suit v. Ultima
------------------------------------------------------------
Bankruptcy Judge Robert H. Jacobvitz denied the request of Judith
Wagner, Chapter 11 Trustee of the bankruptcy estate of the Vaughan
Company Realtors, to amend her complaint to recover certain
transfers from Vaughan Company Realtors to Ultima Homes, Inc., in
connection with Ultima's construction of Douglas Vaughan's
personal residence.  The Court said the Motion to Amend should be
denied as futile.

The Trustee seeks to amend the Complaint to add separate counts
against Ultima for fraudulent transfer under state law. Ultima
contends that the amendments would be futile because the transfers
at issue are time barred under the applicable statutes of
limitation.

For many years prior to 2010, Douglas Vaughan caused VCR to
operate as a Ponzi scheme. Mr. Vaughan concealed the ongoing fraud
until he eventually went to prison and the business shut down. In
2004 or 2005, Mr. Vaughan engaged Ultima to construct his personal
residence. On May 5, 2005 and July 29, 2005, VCR issued and
delivered checks to Ultima totaling $501,849.33 as payment for the
project. Although the Defined Benefit Pension Plan and Trust
maintained by Ultima invested in VCR's promissory note program,
Ultima itself did not.

The case is, JUDITH A. WAGNER, Chapter 11 Trustee Of the
bankruptcy estate of the Vaughan Company, Realtors, Plaintiff,
v. ULTIMA HOMES, INC., KENNETH HIGHTOWER, as trustee of the Ultima
Homes, Inc. Defined Benefit Plan and Trust, JOHN DOE, as trustee
of the Ultima Homes, Inc. Defined Benefit Plan and Trust,
Defendants, Adv. Proc. No. 12-01110 (Bankr. D. N.M.).  A copy of
the Court's Aug. 20, 2013 Memorandum Opinion is available at
http://is.gd/B9c6slfrom Leagle.com.

                     About Vaughan Company

The Vaughan Company, Realtors, descended into bankruptcy after
Douglas F. Vaughan, the former controlling shareholder, used the
company to run a Ponzi scheme from 1993 until January 2010.  Mr.
Vaughan has entered into a plea agreement with the United States,
admitting guilt to various securities violations.

In March 2010, the Securities and Exchange Commission filed fraud
charges against Mr. Vaughan, a New Mexico realtor, and obtained an
emergency court order to halt his $80 million Ponzi scheme.  The
SEC's complaint, filed in federal court in Albuquerque, alleges
Mr. Vaughan through his company issued promissory notes that he
claimed would generate high fixed returns for investors.  Mr.
Vaughan also used another entity -- Vaughan Capital LLC -- to
solicit investors for different types of real estate-related
investments, such as buying residential properties at distressed
prices.  Mr. Vaughan relied entirely on new money raised from
investors through both companies to fund Vaughan Company's ever-
increasing obligations to note holders.

The SEC also charged both of Mr. Vaughan's companies in the
enforcement action.  Neither Mr. Vaughan nor his companies are
registered with the SEC to offer securities under the federal
securities laws.

The Vaughan Company Realtors filed for Chapter 11 protection on
Feb. 22, 2010 (Bankr. N.M. Case No. 10-10759).  George D. Giddens,
Jr., Esq., represents the Debtor in its restructuring efforts.
The Company estimated both assets and debts of between $1 million
and $10 million.  Judith A. Wagner was appointed as Chapter 11
Trustee.

Mr. Vaughan filed a separate Chapter 11 petition (Bankr. D. N.M.
Case No. 10-10763) on Feb. 22, 2010.  The case was converted to a
chapter 7 proceeding on May 20, 2010.  Yvette Gonzales is the duly
appointed trustee of the Chapter 7 estate.


VERMILLION INC: Files Form 10-Q, Had $2.1-Mil. Net Loss in Q2
-------------------------------------------------------------
Vermillion, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.11 million on $323,000 of total revenue for the three months
ended June 30, 2013, as compared with a net loss of $1.97 million
on $321,000 of total revenue for the same period during the prior
year.

For the six months ended June 30, 2013, the Company reported a net
loss of $4.68 million on $651,000 of total revenue, as compared
with a net loss of $3.75 million on $633,000 of total revenue for
the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $16.89
million in total assets, $4.39 million in total liabilities and
$12.49 million in total stockholders' equity.

"In Q2, we continued to focus on building the solid foundation
needed to expand OVA1(R) commercialization and improve the care
for women with gynecological cancers," said Thomas McLain,
Vermillion's president and CEO.  "Test volumes of OVA1 were about
the same compared to the second quarter of last year as we made
changes to strengthen our field sales force during the quarter."

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

                        http://is.gd/YJ39BG

                          About Vermillion

Vermillion, Inc. is dedicated to the discovery, development and
commercialization of novel high-value diagnostic tests that help
physicians diagnose, treat and improve outcomes for patients.
Vermillion, along with its prestigious scientific collaborators,
has diagnostic programs in oncology, hematology, cardiology and
women's health.

The Company filed for Chapter 11 on March 30, 2009 (Bankr. D. Del.
Case No. 09-11091).  Vermillion's legal advisor in connection with
its successful reorganization efforts wass Paul, Hastings,
Janofsky & Walker LLP.  Vermillion emerged from bankruptcy in
January 2010.  The Plan called for the Company to pay all claims
in full and equity holders to retain control of the Company.

Vermillion incurred a net loss of $7.14 million in 2012, as
compared with a net loss of $17.79 million in 2011.

BDO USA, LLP, in Austin, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012, citing recurring losses and negative
cash flows from operations and an accumulated deficit, all of
which raise substantial doubt about the Company's ability to
continue as a going concern.


VERTICAL COMPUTER: Delays Form 10-Q for Second Quarter
------------------------------------------------------
Vertical Computer Systems, Inc., said it has experienced issues
arising from unexpected delays in coordinating and finalizing its
Form 10-Q report for the period ended June 30, 2013.  Accordingly,
the Company was unable to file its quarterly report on or before
the prescribed filing date.  The Company expects to file the Form
10-Q within five days after the prescribed filing date.

                     About Vertical Computer

Richardson, Tex.-based Vertical Computer Systems, Inc., is a
multinational provider of Internet core technologies, application
software, and software services through its distribution network
with operations or sales in the United States, Canada and Brazil.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012, citing net losses and a working capital
deficiency, which raises substantial doubt about the Company's
ability to continue as a going concern.

Vertical Computer disclosed a net loss of $1.31 million on $5.47
million of total revenues for the year ended Dec. 31, 2012, as
compared with a net loss of $167,588 on $6.27 million of total
revenues for the year ended Dec. 31, 2011.

The Company's balance sheet at March 31, 2013, showed $1.47
million in total assets, $14.68 million in total liabilities,
$9.90 million in convertible cumulative preferred stock and a
$23.11 million total stockholders' deficit.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012, citing net losses and a working capital
deficiency, which raises substantial doubt about the Company's
ability to continue as a going concern.


WATERFRONT OFFICE: Secured Creditor Files Full-Payment Plan
-----------------------------------------------------------
Deustche Genossenschafts-Hypothekenbank AG, secured creditor to
Waterfront Office Building, LP and Summer Office Building, LP,
filed with the U.S. Bankruptcy Court for the District of
Connecticut a Chapter 11 Plan and Disclosure Statement, which
proposes to pay all creditors in full on the plan effective date.

In DG Hyp's opinion, the treatment of Creditors under its Plan
provides a greater possible recovery than is likely to be achieved
under any other alternatives, including any other plan -- such as
the Debtors' plan which provides only an 80% recovery to General
Unsecured Creditors over a period of 4 years -- or liquidation
under Chapter 7 under the Bankruptcy Code.

DG Hyp believes in a Chapter 7 liquidation, Administrative
Expenses and Priority Claims would not be paid, and other than DG
Hyp, no other creditor would receive any distributions on account
of its Claim.

The DG Hyp Plan contemplates satisfaction of DG Hyp's Claim in
exchange for the Debtors' primary assets, the Properties and
amounts held in the Debtors' Accounts.  Under the Plan, DG
Hyp, which holds a senior mortgage on the Properties in excess of
the Properties' appraised value, will take the Properties in
satisfaction ofthe mortgage.  Dg Hyp will pay in full all real
estate tax claims of the City ofStamford and all Allowed General
Unsecured Claims.  DG Hyp agrees to waive any distribution on
account of the DG Hyp's Deficiency Claim only in the event the DG
Hyp Plan is confirmed by the Bankruptcy Court.

The Plan designates Class 1 as Other Priority Claims, Class 2 as
City of Stamford Secured Claim, Class 3 as DG Hyp Secured Claim
scheduled at approximately $3.5 million, Class 4 as General
Unsecured Claims estimated to total $350,000, and Class 5 as
Equity Interests which are to be extinguished on the Effective
Date.

A full-text copy of the Disclosure Statement dated Aug. 7, 2013 is
available for free at:

   http://bankrupt.com/misc/WATERFRONTOFFICE_DGHypDSAug7.PDF

DG Hyp's co-counsel are:

          CUMMING & LOCKWOOD LLC
          John Carberry, Esq.
          Six Landmark Square
          Stamford, Connecticut 06901
          Tel No: (203) 327-1700
          Email: jcarberry@cl-law.com

               -- and --

          TARTER KRINSKY & DROGIN LLP
          Deborah J. Piazza, Esq.
          1350 Broadway, 11th Floor
          New York, New York 10018
          Tel No: (212) 216-8000
          E-mail: dpiazza@tarterkrinsky.com

               About Waterfront Office Building &
                      Summer Office Building

Stamford, Conn.-based Waterfront Office Building, LP, filed a
voluntary Chapter 11 petition (Bankr. D. Conn. Case No. 12-52121)
in Bridgeport on Nov. 27, 2012, listing $50 million to $100
million in both assets and debts.  The Debtor owns a 206,186
square foot multi-tenant office building on 8.1 waterfront acres
with two on site restaurants and an adjacent 71-slip marina.

Summer Office Building LP also filed for Chapter 11 (Bankr. D.
Conn. Case No. 12-52122), listing $10 million to $50 million in
assets and $50 million to $100 million in debts.

Judge Alan H.W. Shiff oversees the Chapter 11 cases.  James
Berman, Esq., at Zeisler and Zeisler, P.C., serves as the Debtors'
counsel.   The petitions were signed by Paul Kuehner, manager of
managing member of sole member of Debtor's GP.


WATERFRONT OFFICE: Gets Court Nod to Hire Zeisler as Counsel
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Connecticut granted
Waterfront Office Building, LP's application to employ Zeisler &
Zeisler, P.C., as its counsel under a general retainer.  The
Debtor contemplates that Z&Z will render general legal services to
the Debtor as needed throughout the course of the Chapter 11 case,
including litigation and bankruptcy assistance and advice.

               About Waterfront Office Building &
                      Summer Office Building

Stamford, Conn.-based Waterfront Office Building, LP, filed a
voluntary Chapter 11 petition (Bankr. D. Conn. Case No. 12-52121)
in Bridgeport on Nov. 27, 2012, listing $50 million to $100
million in both assets and debts.  The Debtor owns a 206,186
square foot multi-tenant office building on 8.1 waterfront acres
with two on site restaurants and an adjacent 71-slip marina.

Summer Office Building LP also filed for Chapter 11 (Bankr. D.
Conn. Case No. 12-52122), listing $10 million to $50 million in
assets and $50 million to $100 million in debts.

Judge Alan H.W. Shiff oversees the Chapter 11 cases.  The
petitions were signed by Paul Kuehner, manager of managing member
of sole member of Debtor's GP.


WEST AIRPORT: U.S. Trustee Unable to Form Committee
---------------------------------------------------
The United States Trustee said that an official committee under
11 U.S.C. Sec. 1102 has not been appointed in the bankruptcy case
of West Airport Palms Business Park, LLC.

The U.S. Trustee has attempted to solicit creditors interested in
serving on the Unsecured Creditors' Committee from the 20 largest
unsecured creditors.  After excluding governmental units, secured
creditors and insiders, the U.S. Trustee has been unable to
solicit sufficient interest in serving on the Committee, in order
to appoint a proper Committee.

The U.S. Trustee reserves the right to appoint such a committee
should interest developed among the creditors.

Headquartered in Miami, Florida, West Airport Palms Business Park,
LLC, filed for Chapter 11 (Bankr. S.D. Fla. Case No. 13-25728) on
July 2, 2013.  Judge Robert A. Mark presides over the case.  James
Schwitalla, Esq., represents the Debtor as counsel.  In its
petition, the Debtor scheduled assets of $14,440,419 and
liabilities of $9,284,422.  The petition was signed by Alexander
Montero, managing member.


WESTAR I: Offices Office Out of Receivership
--------------------------------------------
Brian R. Ball at Columbus Business First reports that the Offices
at Westar I has escaped receivership with its fractional tenant-
in-common investors back in control of the 145,000-square-foot
building.

Delaware County Common Pleas Court records show TIC Owners, a
group of investors led by Cabot Investment Properties LLC, paid
$12.8 million Aug. 7 to settle a January 2012 foreclosure case,
according to Columbus Business First.  The report relates that the
group purchased the Westerville property for $19.2 million in May
2004.

The report notes that an affiliate of mortgage holder Torchlight
Investments of New York in July had bid $12.6 million for the
building at a sheriff's auction; it was the minimum two-thirds bid
for the property at 570 Polaris Parkway.  It was appraised for
$18.9 million, the report says.

But a court order confirming the July 10 sheriff's sale had not
been approved when the investors stepped in to pay off a $12.5
million judgment and other costs to the county, the report
discloses.

Delaware Common Pleas Court Judge Duncan Whitney signed an order
Aug. 15 approving the redemption and dissolution of the
receivership case.

The report relays that Paul Leithart II, a partner at Strip
Hoppers Leithart McGrath & Terlecky Co. in Columbus who was the
attorney for the receiver in the case, called the 11th-hour
redemption "a very unusual situation."   In a few recent cases, he
said, borrowers struck deals with lenders to buy the properties at
discounted prices after lining up new financing, the report
discloses.
The building is anchored by third-party logistics provider Exel
Inc.   It became fully leased this year when iQ Solutions, a
consulting firm, and Lyneer International, an affiliated
technology and communications consulting business, took 6,500
square feet in the 11-year-old building.

Greg Gillott of Cincinnati-based Neyer Commercial Realty
represented court-appointed receiver Dave Elson, a principal of
affiliate Neyer Management, in that deal. Brad McMahon of CBRE
Group Inc. represented the tenants, the report notes.

Brian R. Ball covers real estate, allied construction industries,
development and the hospitality and hotel sectors for Business
First, the report adds.


WORLD SURVEILLANCE: Incurs $840,000 Net Loss in Second Quarter
--------------------------------------------------------------
World Surveillance Group Inc. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $840,372 on $650,295 of net sales for the three
months ended June 30, 2013, as compared with net income of
$872,103 on $351,664 of net sales for the same period a year ago.

For the six months ended June 30, 2013, the Company reported a net
loss of $1.35 million on $1.17 million of net sales, as compared
with a net loss of $519,794 on $498,393 of net sales for the same
period last year.

The Company's balance sheet at June 30, 2013, showed $3.60 million
in total assets, $16.93 million in total liabilities, all current
and $13.33 million total stockholders' deficit.

                        Bankruptcy Warning

"Our indebtedness at June 30, 2013 was $16,938,962.  A portion of
such indebtedness reflects judicial judgments against us that
could result in liens being placed on our bank accounts or assets.
We are continuing to review our ability to reduce this debt level
due to the age and/or settlement of certain payables but we may
not be able to do so.  This level of indebtedness could, among
other things:

  * make it difficult for us to make payments on this debt and
    other obligations;

   * make it difficult for us to obtain future financing;

   * require us to redirect significant amounts of cash from
     operations to servicing the debt;

   * require us to take measures such as the reduction in scale of
     our operations that might hurt our future performance in
     order to satisfy our debt obligations; and

   * make us more vulnerable to bankruptcy or an unwanted
     acquisition on terms unsatisfactory to us," the Company said
     in the quarterly report.

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

                         http://is.gd/fKvc9G

                       About World Surveillance

World Surveillance Group Inc. designs, develops, markets and sells
autonomous lighter-than-air (LTA) unmanned aerial vehicles (UAVs)
capable of carrying payloads that provide persistent security
and/or wireless communication from air to ground solutions at low,
mid and high altitudes.  The Company's airships, when integrated
with electronics systems and other high technology payloads, are
designed for use by government-related and commercial entities
that require real-time intelligence, surveillance and
reconnaissance or communications support for military, homeland
defense, border control, drug interdiction, natural disaster
relief and maritime missions.  The Company is headquartered at the
Kennedy Space Center, in Florida.

World Surveillance disclosed a net loss of $3.36 million on
$272,201 of net revenues for the year ended Dec. 31, 2012, as
compared with a net loss of $1.12 million on $19,896 of net
revenues in 2011.

Rosen Seymour Shapss Martin & Company LLP, in New York, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company has experienced significant losses
and negative cash flows, resulting in decreased capital and
increased accumulated deficits.  These conditions raise
substantial doubt about its ability to continue as a going
concern.


WPCS INTERNATIONAL: First Wilshire No Longer a Shareholder
----------------------------------------------------------
In an amended Schedule 13G filing with the U.S. Securities and
Exchange Commission, First Wilshire Securities Management, Inc.,
disclosed that as of Aug. 12, 2013, it does not beneficially own
shares of common stock of WPCS International Inc.  First Wilshire
previously reported beneficial ownership of 748,272 common shares
or 10.8 percent equity stake as of Dec. 31, 2012.  A copy of the
regulatory filing is available at http://is.gd/cXOOS1

                       About WPCS International

Exton, Pennsylvania-WPCS International Incorporated is a global
provider of design-build engineering services for communications
infrastructure, with approximately 250 employees in five
operations centers on three continents.  The Company provides its
engineering capabilities including wireless communication,
specialty construction and electrical power to a diversified
customer base in the public services, healthcare, energy and
corporate enterprise markets worldwide.

CohnReznick LLP, in Roseland, New Jersey, expressed substantial
doubt about WPCS International's ability to continue as a going
concern following the annual report for the year ended April 30,
2013.  The independent auditors noted that the Company has
incurred net losses and negative cash flows from operating
activities, had a working capital deficiency as of and for the
years ended April 30, 2013, and 2012, and has an accumulated
deficit as of April 30, 2103.

The Company reported a net loss of $6.8 million on $42.3 million
of revenue in fiscal 2013, compared with a net loss of
$20.6 million on $65.5 million in fiscal 2012.  The Company's
balance sheet at April 30, 2013, showed $18.1 million in total
assets, $19.1 million in total liabilities, and a stockholders'
deficit of $927,428.


YESHIVA CHOFETZ: Files Ch. 11 Petition in White Plains
------------------------------------------------------
Yeshiva Chofetz Chaim, Inc., filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 13-23380) in White Plains, New York, on Aug. 19.

The Debtor disclosed $17.0 million in assets and $3.81 million
in liabilities in its schedules.  The Debtor owns a property in
82 Highview Road, in Suffern, New York, valued at $13 million and
securing a $3.53 million debt to TD Bank N.A.

Prepetition, TD Bank commenced a foreclosure suit in Rockland
County Supreme Court, according to the statement of financial
affairs.  The bankruptcy filing stayed the foreclosure sale.

The initial case conference is due by Sept. 18, 2013.  The Debtor
must submit a statement of operations, cash flow statement and
other required documents by Sept. 3.

According to the docket, the Debtor is required to submit a
Chapter 11 plan and explanatory disclosure statement by Dec. 17,
2013.

The Debtor's counsel is:

          Robert S. Lewis, Esq.
          53 Burd Street
          Nyack, NY 10960
          Tel: 845-358-7100


YESHIVA CHOFETZ: Case Summary & 6 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Yeshiva Chofetz Chaim, Inc.
        18 Mountain Ave.
        Monsey, NY 10952

Bankruptcy Case No.: 13-23380

Chapter 11 Petition Date: August 19, 2013

Court: United States Bankruptcy Court
       Southern District of New York (White Plains)

Judge: Robert D. Drain

Debtor's Counsel: Robert S. Lewis, Esq.
                  ROBERT S. LEWIS, P.C.
                  53 Burd Street
                  Nyack, NY 10960
                  Tel: (845) 358-7100
                  Fax: (845) 353-6943
                  E-mail: robert.lewlaw1@gmail.com

Scheduled Assets: $17,028,000

Scheduled Liabilities: $3,810,000

The petition was signed by Rabbi Mayer Zaks, president.

Debtor's List of Six Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Mark Blisko                                       $100,000
46 Causeway
Lawrence, NY 11559

Excalibur Systems          Trade debt             $80,000
311 Mecham Ave.
Elmont, NY 11003

Eastern Atlantic           Trade debt             $50,000
5 Mezabish Pl. Ste 202
Monroe, NY 10950

FMI Consulting             Trade debt             $25,000

Ezra Beyman                Trade debt             $25,000

Bracha Stein               Trade debt             $5,000


YESHIVA KTANA: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Yeshiva Ktana of Bensonhurst
          aka Yeshiva Shaarei
          dba Yeshiva Shaare Torah
        2025 67th Street
        Brooklyn, NY 11204

Bankruptcy Case No.: 13-45079

Chapter 11 Petition Date: August 19, 2013

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Elizabeth S. Stong

Debtor's Counsel: Abraham Backenroth, Esq.
                  BACKENROTH FRANKEL & KRINSKY
                  489 Fifth Avenue, 28th Floor
                  New York, NY 10017
                  Tel: (212) 593-1100
                  Fax: (212) 644-0544
                  E-mail: abackenroth@bfklaw.com

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

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/nyeb13-45079.pdf

The petition was signed by Osher Levovitz, president.


Z TRIM HOLDINGS: Swings to $3 Million Net Income in Second Qtr.
---------------------------------------------------------------
Z Trim Holdings, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $3.08 million on $382,126 of total revenues for the three
months ended June 30, 2013, as compared with a net loss of
$476,802 on $323,890 of total revenues for the same period a year
ago.

For the six months ended June 30, 2013, the Company reported a net
loss of $8.25 million on $745,957 of total revenues, as compared
with a net loss of $5.51 million on $642,273 of total revenues for
the same period during the prior year.

Z Trim Holdings disclosed a net loss of $9.58 million in 2012
following a net loss of $6.94 million in 2011.

The Company's balance sheet at June 30, 2013, showed $4.71 million
in total assets, $3.45 million in total liabilities and $1.25
millionin total stockholders' equity.

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

                        http://is.gd/zxmkp8

                            About Z Trim

Mundelein, Ill.-based Z Trim Holdings, Inc., is a functional food
ingredient company which provides custom product solutions that
help answer the food industry's problems.  Z Trim's revolutionary
technology provides value-added ingredients across virtually all
food industry categories.  Z Trim's all-natural products, among
other things, help to reduce fat and calories, add fiber, provide
shelf-stability, prevent oil migration, and add binding capacity
-- all without degrading the taste and texture of the final food
products.

M&K CPAS, PLLC, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that
the Company had a working capital deficit and reoccurring losses
as of Dec. 31, 2012.  These conditions raise substantial doubt
about its ability to continue as a going concern.


* 7th Circ. Stuffs Pippen's Defamation Suit Against NBC, CBS
------------------------------------------------------------
Law360 reported that the Seventh Circuit refused to revive former
NBA star Scottie Pippen's defamation suit against NBC Universal
Media LLC, CBS Interactive Inc. and three other media outlets over
reports he was bankrupt, agreeing with the lower court that Pippen
failed to show the defendants acted with actual malice.

According to the report, a three-judge panel affirmed U.S.
District Judge Sharon Johnson Coleman's order dismissing Pippen's
complaint, saying he didn't meet the burden as a public figure to
allege that the defendants published the false reports of his
bankruptcy with malice.


* Appeals Court Reverses Bank Tax Ruling in Win for FDIC
--------------------------------------------------------
Patrick Fitzgerald, writing for Daily Bankruptcy Review, reported
that a federal appeals court has reversed a lower court decision
involving the rights to a dead bank's tax refunds, giving the
Federal Deposit Insurance Corp. a victory in its legal battles
with investors picking over the remnants of the hundreds of failed
banks left in the wake of the financial crisis.


* Texas Regulators Throw 2 Mortgage Firms Into Receivership
------------------------------------------------------------
Mortgage Daily reports that two Texas firms that collected bi-
weekly mortgage payments from borrowers and were supposed to
forward them on to the servicers have been forced into
receivership.

Bi-weekly payment plans are nothing new and have been successfully
used for years by borrowers to more quickly pay down their home
loans, according to Mortgage Daily.

The report relates that instead of making one payment per month,
or 12 payments per year, bi-weekly plans result in 26 payments per
year. In addition to making part of the monthly payment early, the
plan effectively adds another full month's payment each year.


* Fed Has Debated Ways to Prolong Easy-Money Policies
-----------------------------------------------------
Ylan Q. Mui, writing for The Washington Post, reported that the
Federal Reserve debated changing its plans for raising interest
rates so that it could keep its easy-money policy in place longer,
according to documents released Aug. 21.

According to the report, the minutes of the Fed's policy-setting
meeting in July show that officials discussed at length for the
first time whether they should alter the terms of their landmark
promise to keep short-term rates near zero at least until
inflation reaches 2.5 percent or the unemployment rate hits 6.5
percent. The ideas broached included lowering the target for
unemployment and establishing a floor for inflation. The Fed also
considered providing more detail about what it would do once its
existing thresholds are met.

Although the central bank ultimately decided not to make any
policy changes during the July meeting, the discussion underscores
the challenge facing the Fed as it grapples with the best way to
wind down its unprecedented stimulus of the nation's economy, the
report said.  As the recovery strengthens, the Fed must find a way
to withdraw its support without frightening the markets or the
public, which could undo its careful work.

That delicate balance is exemplified by the reaction to the Fed's
announcement in June that it will begin scaling back its
multibillion-dollar bond-buying program this year, the report
related.  The purchases, often referred to as quantitative easing,
were intended to bring down long-term interest rates and goose the
recovery. But markets panicked at the prospect of a "tapering" of
bond purchases, igniting a sell-off in the stock markets and a
spike in bond yields. Investors have become fixated on when the
reduction will start, leaving markets jittery.

On Aug. 21, the markets were on a hair trigger as traders awaited
further clues about the Fed's intentions, the report said.  Stocks
plunged when the documents were released, then rebounded briefly
before moving back into the red. The Dow Jones industrial average
closed down 0.7 percent, while the broader Standard & Poor's 500-
stock index lost nearly 0.6 percent. Yields on 10-year Treasury
bonds rose 4 cents to $2.86.


* SEC Set to Propose New Rule on CEO Pay
----------------------------------------
Andrew Ackerman, writing for The Wall Street Journal, reported
that the Securities and Exchange Commission will soon thrust CEO
compensation back into the spotlight when it proposes a long-
delayed rule requiring companies to disclose the pay gap between
chief executives and rank-and-file employees.

According to the report, the requirement, a mandate of the 2010
Dodd-Frank financial law, could put added pressure on corporate
boards to slow pay increases for chief executives at companies
with significant or growing gaps, proponents say.

The rule, expected to be approved by the SEC as early as next
month, has come under fire from corporations, the report said.
But it is expected to be less onerous than what lawmakers
originally ordered the SEC to adopt, according to people familiar
with the proposal.

Rather than surveying the entire workforce, the SEC is expected to
allow companies to consider a fraction of their employees when
calculating median pay, the report related.  It isn't clear what
percentage of the workforce would be included in the sample.

Companies would have to disclose the ratio between CEO
compensation and the median pay of the sampled employee group, the
report further related. Median pay is the point on the income
scale at which half the employees earn more and half earn less.


* CFPB: Mortgage Servicing Still Riddled with Problems
------------------------------------------------------
Danielle Douglas, writing for The Washington Post, reported that
the Consumer Financial Protection Bureau said that it has launched
investigations at banks and other financial firms after finding
many problems in the way they service residential mortgages.

According to the report, in the aftermath of the housing crash,
the haphazard work of some mortgage servicers prevented thousands
of struggling Americans from hanging on to their homes. Problems
came to a head when regulators learned that banks were using
forged and shoddy paperwork to rapidly foreclose on homeowners, a
practice known as "robo-signing."

Outrage over those practices led to multibillion-dollar
settlements and a series of new rules aimed at changing the way
servicers interact with borrowers, but a report released Aug. 21
by the CFPB shows that many companies have not cleaned up their
acts.

Examiners at the bureau found that mortgage servicers, which
collect loan payments and handle loan modifications and
fore?closures, engage in sloppy payment processing that can result
in extra fees for homeowners, the report related.

They also uncovered instances in which servicers failed to tell
homeowners that their loans were transferred to another company or
gave consumers conflicting information on the process for
reworking the terms of their mortgage, the report said.


* Morgan Drexen Sees Conflicting Messages in CFPB Legal Standoff
----------------------------------------------------------------
Morgan Drexen is holding firm in its pledge to protect the private
financial records of thousands of American consumers -- despite
seemingly contradictory directives from the U.S. government.  The
Consumer Financial Protection Bureau has demanded Morgan Drexen
release private financial and attorney communications of
bankruptcy clients protected by attorney-client privilege.
However, on Aug. 19, Federal Trade Commission Chairwoman Edith
Ramirez said the FTC is pushing Congress for the power to secure
civil penalties against businesses that "fail to maintain
reasonable security," according to a report by Corporate Counsel,
a watchdog organization for attorneys.

"It strikes me as hypocritical and disjointed that one government
agency would demand extreme protection of private data, while
other government agencies aggressively attempt to harvest that
very same data," said Walter Ledda, Morgan Drexen CEO.  "This is
like the fox guarding the henhouse. The government can't claim to
be protecting privacy while invading it at the same time."

In recent months, the CFPB has been harshly criticized for
monitoring up to 900 million credit card accounts and spending
more than $20 million to collect and analyze the data.  The
Government Accountability Office is now investigating the CFPB's
data mining efforts.  The National Security Agency (NSA) has also
come under fire for its data gathering and domestic surveillance
programs.

On Aug. 19, Ms. Ramirez gave the keynote address at the Technology
Policy Institute in Aspen, CO, saying in her prepared remarks,
"The indiscriminate collection of data violates the First
Commandment of data hygiene: Thou shall not collect and hold onto
personal information unnecessary to an identified purpose. Keeping
data on the off-chance that it might prove useful is not
consistent with privacy best practices."

In July, Connecticut attorney Kimberly Pisinski and Morgan Drexen
filed a federal lawsuit challenging the constitutionality of the
CFPB, as well as its overreaching demands for sensitive financial
documents.  On Aug. 20, the CFPB filed a separate suit against
Morgan Drexen in a jurisdiction 3,000 miles from the pending
lawsuit -- a move the company's outside counsel described as
"procedural gamesmanship."

"This is disruptive and inefficient and distracts from what we
should be doing, which is preparing to present arguments to the DC
court on the constitutionality of the CFPB structure," said
Randall K. Miller, Partner, Venable LLP.

Morgan Drexen has outlined its commitment to protecting sensitive,
privileged communications between attorneys and their clients.

                       About Morgan Drexen

Morgan Drexen -- http://www.morgandrexen.com-- provides
integrated software systems and administrative support services to
businesses and industries nationwide.  Morgan Drexen's proprietary
MDIS software improves workflow through the use of automated
document management.  In addition to computer technology, Morgan
Drexen provides businesses with marketing, marketing support, call
centers, outsourced litigation support, databases, work-product
retrieval systems and cloud-computing platforms facilitated by the
company's outsourced support staff.


* Spanky Assiter to Hold Equipment Auction on Aug. 29
-----------------------------------------------------
Amarillo-based auctioneer Spanky Assiter may be most famous for
his nationally televised auctions of classic collector autos, but
for the next week, his focus will be on heavy equipment --
loaders, graders, excavators, and scores of pickup trucks,
passenger vans and other heavy machinery.

It's all part of Assiter Auctioneers' upcoming auction of heavy
equipment being sold for the City of Amarillo, XCEL Energy, the
U.S. Bankruptcy Courts and various banks, credit unions and other
sellers.  Online bidding is already under way on the equipment,
with the live auction set for 9:30 a.m. Thursday, Aug. 29.

"The big auto auctions get more national attention, but here in
Texas, this probably has a bigger impact on the regional economy,
and this will be a lot of fun," said Assiter. "Much of this is
heavy equipment used for construction, utility work and
agriculture, but we have a lot of items that will interest
individuals, including pickups, some Crown Victorias, a few
motorcycles and even a fishing boat," he said.

The equipment is located at the auction company's facility at
16650 Interstate 27, Canyon.  Individuals interested in additional
information may view the entire inventory at
http://www.assiter.comor call 800-283-8005.

In addition to heading up Assiter Auctioneers, Assiter is official
auctioneer of Barrett-Jackson, whose multi-day auctions of classic
vehicles are televised frequently on the SPEED network.

Assiter Auctioneers, based in Canyon, specializes in the sale of
equipment, homes, commercial properties, land and other assets.


* Shutts & Bowen Bankruptcy Lawyers Included in Best Lawyers List
-----------------------------------------------------------------
Florida law firm Shutts & Bowen LLC on Aug. 22 disclosed that 60
lawyers have been selected by their peers for inclusion in The
Best Lawyers in America(R) 2014.

Four of the firm's partners were selected as "Lawyers of the Year"
in their practice areas: Bowman Brown in Miami for Mergers and
Acquisitions Law, Charles Robinson Fawsett in Orlando for Labor
Law, Joseph Goldstein of the Fort Lauderdale office for
Administrative/Regulatory Law, and Michael "Micky" Grindstaff in
Orlando for Real Estate Law.

Among Shutts & Bowen's offices throughout the state, the 2014 Best
Lawyers included five from Fort Lauderdale, 21 from Miami, 15 from
Orlando, 10 from Tampa, and nine from West Palm Beach.

"We are honored that a record number of our lawyers -- one out of
four of our team of nearly 240 -- were peer-selected to the Best
Lawyers in America," said Joseph D. Bolton, firmwide managing
partner.  "The real privilege is to earn the continuing confidence
of so many long-term clients and longstanding partners.  While we
have been growing for 103 years, we constantly strive to outdo
ourselves in quality work and in collaboration among our
professionals throughout the state."

Bowman Brown chairs Shutts & Bowen's Executive Committee and its
Financial Services Group.  He has been listed in every edition of
Best Lawyers in America since the publication's inception in 1983
and has been active in financial institution mergers and
acquisitions since the beginning of his career.  Mr. Brown is
listed in Best Lawyers under the categories of Banking and Finance
Law, Corporate Law, Insurance Law, International Trade and Finance
Law, and Mergers and Acquisitions Law.

Charles Robinson ("Robin") Fawsett is a partner in the firm's
Labor & Employment Law Practice Group, which advises and
represents employers in all areas of labor relations and
employment law.  He has conducted trials of over 100 cases in
federal and state courts and before administrative agencies.
Fawsett is listed in the categories of Employment Law --
Management, Labor Law - Management, and Litigation -- Labor and
Employment

Joseph Goldstein, managing partner of the Fort Lauderdale office,
represents businesses involved in disputes or government bid
protests.  He is among the less than one percent of attorneys who
are Florida Bar Board Certified in Business Litigation. Goldstein
is listed in Best Lawyers under the category
Administrative/Regulatory Law.

Michael J. ("Micky") Grindstaff is a partner in Shutts & Bowen's
Orlando office and a member of its Real Estate Practice Group.
Since 1982, Mr. Grindstaff's practice has been concentrated in the
areas of real estate transactions, land use and development, and
has an extensive record of civic involvement. He is listed in the
categories Litigation - Real Estate and Real Estate Law

By office, the lawyers include:

        Fort Lauderdale

        Gary M. Bagliebter, Litigation - Banking and Finance
        Marshall J. Emas, Real Estate Law
        Joseph M. Goldstein, Administrative / Regulatory Law
        Sandra Krumbein, Real Estate Law
        George I. Platt, Government Relations Practice

        Miami

        Joseph D. Bolton, Real Estate Law
        Bowman Brown, Banking and Finance Law, Corporate Law,
        Insurance Law, International Trade and Finance Law,
        Mergers and Acquisitions Law
        Sheila M. Cesarano, Employment Law - Management, Labor
        Law-Management
        Gary J. Cohen, Tax Law
        Kevin D. Cowan, Real Estate Law
        Luis A. de Armas, Corporate Law, International Trade and
        Finance Law, Mergers and Acquisitions Law
        Steven M. Ebner, Commercial Litigation
        Robert G. Fracasso, Bankruptcy and Creditor Debtor
        Rights/Insolvency and Reorganization Law
        Arthur J. Furia, Banking and Finance Law, Corporate Law
        Stephen B. Gillman, Commercial Litigation, Litigation -
        Antitrust, Litigation - Banking and Finance, Litigation -
        Securities
        Rene J. Gonzalez-Llorens, Employment Law - Management
        Mary Karr, Tax Law
        Jeffrey Landau, Insurance Law
        Lee D. Mackson, Bankruptcy and Creditor Debtor Rights /
        Insolvency and Reorganization Law, Litigation - Bankruptcy
        William G. McCullough, Banking and Finance Law
        John E. Meagher, Insurance Law, Personal Injury Litigation
        - Defendants
        Louis Nostro, Tax Law, Trusts and Estates
        Margaret A. Rolando, Real Estate Law
        Alfred G. Smith, Corporate Law
        J. Donald Wasil, Real Estate Law
        Bryan S. Wells, Banking and Finance Law

        Orlando

        Brent C. Bell, Litigation - Construction
        Andrew M. Brumby, Bankruptcy and Creditor Debtor Rights /
        Insolvency and Reorganization Law, Litigation - Bankruptcy
        Donald J. Curotto, Litigation - Real Estate, Real Estate
        Law
        John H. Dannecker, Litigation - Construction
        Charles Robinson Fawsett, Employment Law - Management,
        Labor Law - Management, Litigation - Labor and Employment
        Michael L. Gore, Litigation - Banking and Finance
        Michael J. Grindstaff, Litigation - Real Estate, Real
        Estate Law
        Mary Ruth Houston, Employment Law - Management, Labor Law
        - Management, Litigation - Labor and Employment
        Rod Jones, Banking and Finance Law
        Todd Kobrin, Litigation - Construction
        Jack C. McElroy, Commercial Litigation, Litigation -
        Banking and Finance
        Daniel T. O'Keefe, Real Estate Law
        Paul J. Scheck, Employment Law - Management, Labor Law -
        Management
        Jennifer Slone Tobin, Real Estate Law
        James G. Willard, Real Estate Law

        Tampa

        Eric S. Adams, Commercial Litigation
        Steven K. Barber, Employee Benefits (ERISA) Law
        Tirso Carreja, Jr., Commercial Litigation
        Robert Alan Higbee, Corporate Compliance Law, Corporate
        Governance Law, Corporate Law, Mergers and Acquisitions
        Law
        John E. Johnson, Commercial Litigation, Litigation -
        Banking and Finance
        Dilip Patel, Immigration Law
        Olga M. Pina, Corporate Law
        Mark P. Rankin, Criminal Defense: Non-White-Collar,
        Criminal Defense: White-Collar
        Lonnie L. Simpson, Commercial Litigation
        Robert H. Waltuch, Trusts and Estates

        West Palm Beach

        Arnold Berman, Commercial Litigation
        Eric C. Christu, Commercial Litigation
        James A. Farrell, Health Care Law
        David A. Gart, Trusts and Estates
        Alfred A. LaSorte, Jr., Commercial Litigation,
        Litigation - Real Estate
        John F. Mariani, Commercial Litigation, Product Liability
        Litigation - Defendants
        Arthur J. Menor, Real Estate Law
        Steven R. Parson, Real Estate Law
        E. Lee Worsham, Environmental Law, Litigation -
        Environmental


* BOOK REVIEW: Land Use Policy in the United States
---------------------------------------------------
Author: Howard W. Ottoson
Publisher: Beard Books
Paperback: US$34.95
Review by Gail Owens Hoelscher
Order your personal copy today and one for a colleague at
http://is.gd/tiz2N3

In 1962, marking the 100th anniversary of the signing of the
Homestead Act by President Lincoln, 20 nationally recognized
economists, historians, a political scientist, and a geographer
presented papers at the Homestead Centennial Symposium at the
University of Nebraska. Their task was to appraise the course
that United States land policy had taken since independence. The
resulting papers are presented in this book, grouped into five
major areas: historical background; social factors influencing
U.S. land policy; past, present and future demands for lands in
the U.S.; control of land resources; and implications for future
land policy.

This book begins with a summary of the Homestead Act, its
antecedents, the arguments of its supporters and detractors, and
its intent versus implementation. The Act offered a quarter
section (160 acres) of public land in the West to citizens and
intended citizens for a $14 filing fee and an agreement to live
on the land for five years. The program ended in 1935.

Advocates claimed that frontier lad had no value to the
government until it was developed and began generating tax
revenue. Opponents feared the Act would lower land valued in the
East and pushed for government sale of the land. In practice,
states, territories, railroads and investors were able to set
aside more land than was eventually handed over to the
homesteaders.

One paper deals with land policy before 1862. From the start,
the U.S. required that "all grants of land by the federal
government should embody a description of the land not merely in
quality, but in place as defined by relation to an actual
survey." This policy avoided countless boundary disputes so
vexing to other countries.

Perhaps most interesting are the social history chapters:
Czechoslovakians pushing wheelbarrows across Nebraska,
"Daughters and Sons of the Revolution.(living) next
to.Mennonites," and "an illiterate.neighborly with a Greek and a
Hebrew scholar from a colony of Russian Jews." Mail-order
brides, "defectors from civilization," the importance of the
Mason jar, the Jeffersonian dream of a nation of agrarian
freeholders, and Santayana's observation that the typical
American skitters between visionary idealism and crass
materialism, all make for fascinating reading.

The land-use policy problems discussed certainly haven't been
solved today. And, although land use conflicts in the U.S.
haven't always been resolved equitably, "the big step forward
taken by the United States during the last one hundred and fifty
years in the age-long struggle of man towards the ideals of
mutuality and equity has been the working out of a system
wherein the sovereign superior who prescribes the working-rules
for land use and decision making have become, himself, a
collective of the citizenry."

A chapter is devoted to the arguments between the family farm ad
the "sentiment against concentration of wealth in the hands of a
few." The discussion of the Land Grant college system and its
contribution to international development closes with a quote
from Chester Bowles:

"Can we, now the richest people on earth, become creative
participants in the unprecedented revolutionary changes of our
era, changes that the most privileged people will oppose tooth
and nail, but which for the bulk of mankind offer the hopeful
prospect of a little more food, a little more opportunity, a
doctor for their sick child, and sense of personal dignity?"



                            *********

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, Valerie Udtuhan, Howard C. Tolentino, 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.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-241-8200.


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