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/raid1/www/Hosts/bankrupt/TCR_Public/130907.mbx T R O U B L E D C O M P A N Y R E P O R T E R Saturday, September 7, 2013, Vol. 17, No. 248 Headlines B456 SYSTEMS: Posts $43.74 Million Net Loss for June BETSEY JOHNSON: Has $964,111 Cash at July 31 ATP OIL: Amends June Operating Report to Correct Net Loss ATP OIL: Incurs $14.29 Million Profit for July CENGAGE LEARNING: Reports $75.3 Million Net Income in July ENDICOTT INTERCONNECT: Loses Almost $900,000 in 1st 3 Weeks EXCEL MARITIME: Records $27.43MM Ending Cash Balance for July HI-WAY EQUIPMENT: Files Amended June Monthly Operating Report HI-WAY EQUIPMENT: Records $152,979 Net Loss for July HOSTESS BRANDS: Has $51.06 Million Cash at July 27 LANDAUER HEALTHCARE: Files Initial Monthly Operating Report LIFE UNIFORM: Posts $1.57 Million Net Loss at July 30 METRO FUEL: Incurs $944,059 Net Loss for July NEOGENIX ONCOLOGY: Ends July with $7,318 Cash ORECK CORPORATION: Ends July with $6.07 Million Cash OVERSEAS SHIPHOLDING: Posts $1.03 Million Net Loss in June PROMMIS HOLDINGS: Lists $64.95MM Stockholders' Deficit in July ROTECH HEALTHCARE: Records $10.95 Million Net Loss in July SPECIALTY PRODUCTS: Posts $1.22 Million Net Loss for July TRINITY COAL: Ends July with $653,530 Cash VERTIS HOLDINGS: Posts $1.87 Million Net Loss in July ********* B456 SYSTEMS: Posts $43.74 Million Net Loss for June ---------------------------------------------------- B456 Systems Inc. and its affiliates, filed on Aug. 27, 2013, its monthly operating report for the period from June 1 to 28, 2013. The Company incurred a net loss of $43.74 million for the month of June. As of June 28, 2013, the Company had $193.94 million in total assets, $7.13 million in total liabilities, $157.7 million in total liabilities subject to compromise, and $29.11 million in shareholders' equity. At the beginning of the month, the Company had $179.73 million in cash. The Company had $28,000 in total receipts and $502,000 in total disbursements, excluding professional fees. The Company paid $911,000 in professional fees. The Company's ending cash balance as of June 28 was $178.35 million. A copy of the June monthly operating report is available for free at http://bankrupt.com/misc/A123_SYSTEMS_junemor.pdf About B456 Systems B456 Systems, Inc., formerly A123 Systems, Inc., designs, develops, manufactures and sells rechargeable lithium-ion and energy storage systems. In the transportation industry market, the Company works with global automotive manufacturers and tier 1 suppliers to develop batteries and battery systems for hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and electric vehicles, (EVs). The Company's transportation business is divided into two categories: heavy-duty and passenger. As of Dec. 31, 2011, the Company's product offerings included batteries in various sizes and forms, as well as packaged modules and fully-tested battery systems. The platform for battery and battery system development is its Nanophosphate material. In January 2013, A123 Systems LLC acquired the non-government business assets of the Company. A123 and U.S. affiliates, A123 Securities Corporation and Grid Storage Holdings LLC, sought Chapter 11 bankruptcy protection (Bankr. D. Del. Case Nos. 12-12859 to 12-12861) on Oct. 16, 2012. A123 disclosed assets of $459.8 million and liabilities totaling $376 million. Lawyers at Richards, Layton & Finger, P.A., and Latham & Watkins LLP serve as the Debtors' counsel. Lazard Freres & Co. LLC acts as the Debtors' financial advisors, while Alvarez & Marsal serves as restructuring advisors. Logan & Company Inc. serves as the Debtors' claims and noticing agent. Brown Rudnick LLP and Saul Ewing LLP serve as counsel to the Official Committee of Unsecured Creditors. As reported by Reuters, on May 21, 2013, the Company won court approval for its bankruptcy plan. Under the approved Plan, unsecured creditors of the Company are expected to recover about 65 cents for each dollar. BETSEY JOHNSON: Has $964,111 Cash at July 31 -------------------------------------------- Betsey Johnson LLC, on Aug. 22, 2013, filed its monthly operating report for the month of July. The Debtor reported a net loss of $38,254 for July. As of July 31, 2013, the Debtor had total assets of $1.15 million, total liabilities of $9.5 million, and total stockholders' deficit of $8.35 million. The Debtor had a book balance of $1 million at the start of July. For the month, total inflow was $3,796 while total outflow was $46,966. Betsey Johnson had total ending cash balance of $964,111 at the end of the period. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/BETSEYJOHNSON_julymor.pdf About Betsey Johnson New York-based women's fashion retailer Betsey Johnson LLC filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No. 12-11732) on April 26, 2012, to effectuate a sale of its assets. Formed as B.J. Vines by its namesake, iconic fashion designer Betsey Johnson in 1978, the Debtor sells clothing, footwear, handbags and a signature fragrance through 63 Betsey Johnson retail stores and outlets in the U.S. The Company, which has 400 employees, also sells its products in department and specialty stores worldwide, including Macy's and Lord & Taylor, and online at http://www.betseyjohnson.com/ Non-debtor subsidiaries operate five stores in Canada and one store in England. In 2010, Steven Madden Ltd. a footwear designer and marketer, swapped US$27.4 million of secured debt for ownership of Betsey Johnson's trademarks and intellectual property. The deal satisfied all outstanding debt under a US$50 million term loan used to finance the business' acquisition by Castanea Partners. At the same time, Castanea, the company's majority owner, made a new capital investment of US$3 million as part of the deal with Madden. Betsey Johnson estimated assets and debts of US$10 million to US$50 million as of the Chapter 11 filing. Judge James Peck oversees the case. The Debtor tapped the law firm of Goulston & Storrs, as counsel; Togut, Segal & Segal, LLP, as co-counsel; and Donlin Recano & Company as claims and notice agent. The petition was signed by Jonathan Friedman, chief financial officer. Hahn & Hessen LLP serves as the Official Committee of Unsecured Creditors' counsel. In May 2012, Betsey Johnson received court approval to begin liquidation after the Debtor failed to attract going concern bidders. Liquidators Gordon Brothers Group Inc. and Hilco Merchant Resources LLC offered the top bid for the right to run the chain's going-out-of-business sales. The bid will bring the Debtor about $5.2 million immediately, and more money could trickle in to pay off its debts if the liquidation effort brings in more money than expected. Hilco is represented by Chris L. Dickerson, Esq., at DLA Piper LLP (US). Counsel for Steven Madden, Ltd., is Neil Herman, Esq., at Morgan, Lewis & Bockius LLP. Counsel for First Niagara Commercial Finance, Inc., the DIP Lender, is James C. Fox, Esq., at Ruberto, Israel & Weiner. ATP OIL: Amends June Operating Report to Correct Net Loss --------------------------------------------------------- ATP Oil & Gas Corporation, on Aug. 20, 2013, amended its June monthly operating report to disclose a corrected net loss value. The Company related that it incurred a net loss of $73.49 million on revenues of $18.06 million for June 2013. It initially reported an $83.48 million net loss for June. Total assets and liabilities as well as total cash receipts and disbursements remain the same. As of June 30, 2013, the Company had total assets of $2.79 billion, total liabilities of $3.09 billion, and total stockholders' deficit of $310.24 million. At the beginning of June, ATP Oil had $36.34 million in cash. The Company had total cash receipts of $30.57 million and total cash disbursements of $50.62 million. As a result, at the end of the month, ATP Oil had total cash of $16.29 million. A copy of the amended June monthly operating report is available for free at http://bankrupt.com/misc/ATP_OIL_junemor.pdf 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. ATP OIL: Incurs $14.29 Million Profit for July ---------------------------------------------- ATP Oil & Gas Corporation, on Aug. 20, 2013, filed its monthly operating report for July 2013. The Company reported a net income of $14.29 million on revenues of $40.19 million for July, compared to a $73.49 million on revenues of $18.06 million the previous month. About $331,036 of the Company's July reorganization expenses were for professional. As of July 31, 2013, the Company had total assets of $2.8 billion, total liabilities of $3.10 billion, and total stockholders' deficit of $300.9 million. At the beginning of July, ATP Oil had $16.29 million in cash. The Company had total cash receipts of $33.07 million and total cash disbursements of $35.48 million for the reporting. As a result, at the end of the month, ATP Oil had total cash of $13.89 million. A copy of the monthly operating report is available for free at: http://bankrupt.com/misc/ATP_OIL_julymor.pdf 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. CENGAGE LEARNING: Reports $75.3 Million Net Income in July ---------------------------------------------------------- Cengage Learning, Inc. and its affiliates, on Aug. 30, 2013, filed a monthly operating report for the period from July 2 to July 31, 2013. The Debtors' consolidated statement of operations showed a net income from continuing operations of $75.3 million on $215.43 million of net revenues for the month. Operating income in the month was $82.8 million. As of July 31, 2013, the Debtors had $6 billion in total assets, $7.2 billion in total liabilities, and a $1.19 billion total shareholders' deficit. The Debtors had total receipts of $87.9 million and total cash disbursements of $53.9 million for the entire month. A copy of the monthly operating report is available at: http://bankrupt.com/misc/CENGAGELEARNING_julymor.pdf Bill Rochelle, the bankruptcy columnist for Bloomberg News, relays that in the operating report, Cengage cautioned that the July figures were "not necessarily indicative of results which may be expected from any other period or for the full year and may not necessarily reflect the combined results and financial position of the Debtors in the future." About Cengage Learning Stamford, Connecticut-based Cengage Learning -- http://www.cengage.com/-- provides innovative teaching, learning and research solutions for the academic, professional and library markets worldwide. Cengage Learning's brands include Brooks/Cole, Course Technology, Delmar, Gale, Heinle, South Western and Wadsworth, among others. Apax Partners LLP bought Cengage in 2007 from Thomson Reuters Corp. in a $7.75 billion transaction. The acquisition was funded in part with $5.6 billion in new debt financing. Cengage Learning Inc. filed a petition for Chapter 11 reorganization (Bankr. E.D.N.Y. Case No. 13-bk-44106) on July 2, 2013, in Brooklyn, New York, after signing an agreement where holders of $2 billion in first-lien debt agree to support a reorganization plan. The plan will eliminate more than $4 billion of $5.8 billion in debt. First-lien lenders who signed the so-called plan-support agreement include funds affiliated with BlackRock Inc., Franklin Mutual Adviser LLC, KKR & Co. and Oaktree Capital Management LP. Second- lien creditors and holders of unsecured notes aren't part of the agreement. The Debtors have tapped Kirkland & Ellis LLP as counsel, Lazard Freres & CO. LLC as financial advisor, Alvarez & Marsal North America, LLC, as restructuring advisor, and Donlin, Recano & Company, Inc., as claims and notice agent. A nine-member official committee of unsecured creditors has been appointed in the Debtors' Chapter 11 cases. Arent Fox LLP is the proposed counsel for the Committee. FTI Consulting, Inc., serves as financial advisor to the Committee. Moelis & Company LLC serves as investment banker to the Committee. Cengage has a Sept. 27 hearing for approval of disclosure materials explaining the reorganization plan filed in mid-August. The official creditors' committee wants the hearing postponed until Oct. 25. ENDICOTT INTERCONNECT: Loses Almost $900,000 in 1st 3 Weeks ----------------------------------------------------------- Bill Rochelle, the bankruptcy columnist for Bloomberg News, reports that Endicott Interconnect Technologies Inc., a producer of printed circuit boards and "advanced flip chips," reported a $894,000 net loss over the first three weeks in Chapter 11. From the July 10 Chapter 11 filing date to the end of the month, Endicott generated revenue of $3.9 million. The gross profit for the period was $1.5 million, according to the operating report filed with the U.S. Bankruptcy Court in Utica, New York. Operating expenses in the month totaled $2.2 million. Reorganization costs were $45,000. About Endicott Interconnect Endicott Interconnect Technologies Inc. and its affiliates filed a Chapter 11 petition (Bankr. N.D.N.Y. Case No. 13-bk-61156) in Utica, New York, on July 10, 2013, to sell the business before cash runs out by the end of September. David Van Rossum is the Debtors' chief restructuring officer. Bond, Schoeneck & King, PLLC, is counsel to the Debtor. Based in Endicott, New York, and formed in 2002, EIT is the successor to the microelectronics division of IBM Corp. The products are used in aerospace, defense and medication applications, among others. The company sought Chapter 11 bankruptcy protection after suffering $100 million in operating losses in the last four years. In addition to $16 million in secured claims, trade suppliers are owed $34 million. There is another $32 million owing for loans made by shareholders. The company said the book value of property is $36 million. An official committee of unsecured creditors has been appointed in the case with Avnet Electronics Marketing, Arrow Electronics, Inc., Acbel Polytech, Inc., Cadence Design Systems, Inc., Orbotech, Inc., Tyco Electronics, and High Performance Copper Foil, Inc. as members. The committee is represented by Arent Fox LLP. The business will be sold at auction on Sept. 24. Bids are due Sept. 19. The hearing to approve sale is set for Sept. 26. The first bid of $250,000 is coming come from an insider group. The purchase offer is from company owned by minority shareholder James T. Matthews. In addition to the cash, he would assume a $6.1 million secured term loan of which he is already the owner. There is about $10 million owing on two other secured loans. The official creditors' committee said there could be $20.8 million in claims to bring against insiders. In August, the judge authorized the committee to conduct an investigation of the insiders. EXCEL MARITIME: Records $27.43MM Ending Cash Balance for July ------------------------------------------------------------- Excel Maritime Carriers Ltd. and its affiliates, on Aug. 23, 2013, filed a monthly operating report for July 2013. The Debtors' consolidated statement of operations showed a net loss from continuing operations of $7.76 million on $13.18 million of net revenues for the month. As of July 31, 2013, the Debtors had $993.03 million in total assets, $988.05 million in total liabilities, and a $4.98 million total shareholders' equity. At July 2, the Debtors had a beginning book balance of $27.96 million. They had total receipts of $17.86 million and total cash disbursements of $18.39 million for the entire month. As a result, the Debtors had $27.43 million cash at the end of the month. A copy of the monthly operating report is available at: http://bankrupt.com/misc/EXCEL_MARITIME_julymor.pdf 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. HI-WAY EQUIPMENT: Files Amended June Monthly Operating Report ------------------------------------------------------------- Hi-Way Equipment Company, on Aug. 19, 2013, filed an amended monthly operating report for June 2013 to include a statement of income and cash flow for the month. The Debtors' amended consolidated statement of operations showed a net loss from continuing operations of $220,940 for the month. At June 1, the Debtors had a beginning book balance of $3.97 million. They had total receipts of $108,789 and total cash disbursements of $1.25 million for the entire month. As a result, the Debtors had $2.82 million cash at the end of the month. As of June 2013, the Company had total assets of $2.94 million, total liabilities of $13.44 million, and total stockholders' deficit of $10.49 million. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/HIWAYEQUIPMENT_AmdJuneMOR.pdf About Hi-Way Equipment Hi-Way Equipment Company LLC filed a Chapter 11 petition (Bankr. N.D. Tex. Case No. 13-41498) on April 1, 2013. Charles W. Reeves, Jr., signed the petition as chief restructuring officer. Gardere Wynne Sewell, LLP, in Dallas, Texas, serves as the Debtor's counsel. The Debtor estimated assets and debts of at least $10 million. Shannon, Gracey, Ratliff & Miller represents the Official Committee of Unsecured Creditors as counsel. Hi-Way Equipment has been providing rental and sales of equipment since 1948. In 2008, Hi-Way Equipment acquired Equipment Support Services, Inc. As part of that acquisition, Hi-Way Equipment expanded to become a dealer of Case and Case IH equipment through CNH America LLC. With the acquisition of ESS, Hi-Way Equipment acquired ESS' subsidiaries: CDI Equipment, Ltd., Carruth-Doggett Industries Partners Acquisition, LLC, Future Equipment Holdings, LLC, Future Equipment Partners, LLC, Equipment Support Services, Inc., ESS Acquisition LLC, Carruth-Doggett Industries Holdings Acquisition, LLC, and Southern Power Acquisition, Inc. In 2011, Hi-Way Equipment merged with the Subsidiaries and Hi-Way Equipment was the sole surviving entity. Hi-Way Equipment serves as the non-exclusive dealer of Case and Case IH equipment in numerous counties across Texas. HI-WAY EQUIPMENT: Records $152,979 Net Loss for July ---------------------------------------------------- Hi-Way Equipment Company, on Aug. 22, 2013, filed its monthly operating report for the month ended July 2013. The Debtors' consolidated statement of operations showed a net loss from continuing operations of $152,979 for the month. As of July 2013, the Company had total assets of $2.73 million, total liabilities of $13.38 million, and total stockholders' deficit of $10.65 million. At July 1, the Debtors had a beginning book balance of $2.82 million. They had total receipts of $46,735 and total cash disbursements of $159,639 for the entire month. As a result, the Debtors had $2.71 million cash at the end of the month. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/HI-WAY_EQUIPMENT_julymor.pdf About Hi-Way Equipment Hi-Way Equipment Company LLC filed a Chapter 11 petition (Bankr. N.D. Tex. Case No. 13-41498) on April 1, 2013. Charles W. Reeves, Jr., signed the petition as chief restructuring officer. Gardere Wynne Sewell, LLP, in Dallas, Texas, serves as the Debtor's counsel. The Debtor estimated assets and debts of at least $10 million. Shannon, Gracey, Ratliff & Miller represents the Official Committee of Unsecured Creditors as counsel. Hi-Way Equipment has been providing rental and sales of equipment since 1948. In 2008, Hi-Way Equipment acquired Equipment Support Services, Inc. As part of that acquisition, Hi-Way Equipment expanded to become a dealer of Case and Case IH equipment through CNH America LLC. With the acquisition of ESS, Hi-Way Equipment acquired ESS' subsidiaries: CDI Equipment, Ltd., Carruth-Doggett Industries Partners Acquisition, LLC, Future Equipment Holdings, LLC, Future Equipment Partners, LLC, Equipment Support Services, Inc., ESS Acquisition LLC, Carruth-Doggett Industries Holdings Acquisition, LLC, and Southern Power Acquisition, Inc. In 2011, Hi-Way Equipment merged with the Subsidiaries and Hi-Way Equipment was the sole surviving entity. Hi-Way Equipment serves as the non-exclusive dealer of Case and Case IH equipment in numerous counties across Texas. HOSTESS BRANDS: Has $51.06 Million Cash at July 27 -------------------------------------------------- Old HB, Inc., f/k/a Hostess Brands, Inc., et al., on Aug. 30, 2013, filed an operating report for the period from June 30 to July 27, 2013. The Debtor reported a net income of $112.2 million for the reporting period. As of July 27, 2013, Hostess Brands had total assets of $393.47 million, total liabilities of $2.76 billion, and total stockholders' deficit of $2.36 billion. The Debtor had $45.11 million in unrestricted cash at the beginning of the reporting period. It had total cash receipts of $352.89 million and total cash disbursements of $346.93 million for the reporting period. At the end of the period, Hostess Brands had total cash of $51.06 million. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/HOSTESS_BRANDS_junejulymor.pdf About Hostess Brands Founded in 1930, Irving, Texas-based Hostess Brands Inc., is known for iconic brands such as Butternut, Ding Dongs, Dolly Madison, Drake's, Home Pride, Ho Hos, Hostess, Merita, Nature's Pride, Twinkies and Wonder. Hostess has 36 bakeries, 565 distribution centers and 570 outlets in 49 states. Hostess filed for Chapter 11 bankruptcy protection early morning on Jan. 11, 2011 (Bankr. S.D.N.Y. Case Nos. 12-22051 through 12-22056) in White Plains, New York. Hostess Brands disclosed assets of $982 million and liabilities of $1.43 billion as of the Chapter 11 filing. The bankruptcy filing was made two years after predecessors Interstate Bakeries Corp. and its affiliates emerged from bankruptcy (Bankr. W.D. Mo. Case No. 04-45814). In the new Chapter 11 case, Hostess has hired Jones Day as bankruptcy counsel; Stinson Morrison Hecker LLP as general corporate counsel and conflicts counsel; Perella Weinberg Partners LP as investment bankers, FTI Consulting, Inc. to provide an interim treasurer and additional personnel for the Debtors, and Kurtzman Carson Consultants LLC as administrative agent. Matthew Feldman, Esq., at Willkie Farr & Gallagher, and Harry Wilson, the head of turnaround and restructuring firm MAEVA Advisors, are representing the Teamsters union. Attorneys for The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union and Bakery & Confectionery Union & Industry International Pension Fund are Jeffrey R. Freund, Esq., at Bredhoff & Kaiser, P.L.L.C.; and Ancela R. Nastasi, Esq., David A. Rosenzweig, Esq., and Camisha L. Simmons, Esq., at Fulbright & Jaworski L.L.P. The official committee of unsecured creditors selected New York law firm Kramer Levin Naftalis & Frankel LLP as its counsel. Tom Mayer and Ken Eckstein head the legal team for the committee. Hostess Brands in mid-November 2012 opted to pursue the orderly wind down of its business and sale of its assets after the Bakery, Confectionery, Tobacco and Grain Millers Union (BCTGM) commenced a nationwide strike. The Debtor failed to reach an agreement with BCTGM on contract changes. Hostess Brands sold its businesses and most of the plants to five different buyers for an aggregate of $860 million. Hostess still has some plants, depots and other facilities the buyers didn't acquire. The bankruptcy estate has changed its name to Old HB Inc. LANDAUER HEALTHCARE: Files Initial Monthly Operating Report ----------------------------------------------------------- Landauer Healthcare Holdings, Inc. filed an initial monthly operating report on Aug. 29, 2013, disclosing a 13-week cash flow projection. The Company forecasts $40.28 million in total receipts for the period from Aug. 25, 2013 to Nov. 17, 2013. Total operating disbursements for the 13-week period are estimated to total $16.32 million while non-operating disbursements, which include professional fees, are estimated to total $5.55 million for the same period. The company forecasts a $1 million beginning cash, with an $18.4 million period cash flow and a resulting $19.4 million ending cash flow. A full-text copy of the Initial MOR is available at: http://bankrupt.com/misc/LANDAUER_HEALTHCARE_mor.pdf About Landauer Healthcare Holdings Home medical equipment provider Landauer Healthcare Holdings, Inc., sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 13-12098) on Aug. 16, 2013, with a deal to sell all assets to Quadrant Management Inc. for $22 million, absent higher and better offers. The Company has 32 operating locations, with 50% of inventory concentrated in Mount Vernon, New York; Great Neck, New York; Warwick, Rhode Island; and Philadelphia, Pennsylvania. Landauer, which derives revenues by reimbursement from insurers, Medicare and Medicaid, reported net revenues of $128.5 million in fiscal year ended March 31, 2013. Landauer estimated assets and debt of at least $50 million. Michael R. Nestor, Esq., Matthew B. Lunn, Esq., and Justin H. Rucki, Esq., at Young Conaway Stargatt & Taylor, LLP; and John A. Bicks, Esq., Charles A. Dale III, Esq., and Mackenzie L. Shea, Esq., at K&L Gates LLP, serve as the Debtor's counsel. Carl Marks Advisory Group serves as the Debtor's financial advisors, and Epiq Systems as claims and notice agent. LIFE UNIFORM: Posts $1.57 Million Net Loss at July 30 ----------------------------------------------------- Life Uniform Holding Corp. and its affiliates, on Aug. 23, filed a monthly operating report for the period from June 23, 2013 to July 30, 2013. The Debtors' consolidated statement of operations showed a net loss from continuing operations of $1.57 million for the period ended July 30, 2013. As of July 30, 2013, the Debtors had $29.53 million in total assets, $65.17 million in total liabilities subject to compromise, and a $38.27 million total shareholders' equity. Life Uniform Holding Corp. had no receipts or disbursements for the period. A copy of the monthly operating report is available at: http://bankrupt.com/misc/LIFE_UNIFORM_junejulymor.pdf About Life Uniform Life Uniform was founded in 1965 when Angelica Corporation decided to enter the retail uniform industry. The first Life Uniform store opened in 1965 in Clayton, Missouri. At present, Life Uniform is the nation's largest independently owned medical professional supplier. Sun Uniform LLC acquired Life Uniform in July 2004. Since the acquisition by Sun the company addressed sagging profitability and overhead issues and quickly drove increases in profitability through a combination of store rationalization and sensible corporate overhead initiatives. However, recent performance has been declining in terms of revenue. This is due to the company's liquidity issues, which prevented the company from completing its e-commerce system upgrade, encourage better pricing from vendors, and maintain sufficient capital. Life Uniform Holding Corp., Healthcare Uniform Company, Inc., and Uniform City National Inc. filed Chapter 11 petitions (Bankr. D. Del. Case Nos. 13-11391 to 13-11393) on May 29, 2013. The petitions were signed by Bryan Graiff, COO, CFO, VP, secretary, and treasurer. Life Uniform Holding disclosed $10,695,870 in assets and $36,821,034 in liabilities as of the Chapter 11 filing. Life Uniform and Uniform City received court authority on July 26 to sell the business for $22.6 million to Scrubs & Beyond LLC. There were no competing bids, so an auction wasn't held. First lien lender CapitalSource Finance LLC is owed on a $11.5 million revolver and $26 million term loan. CapitalSource is represented by Brian T. Rice, Esq., at Brown Rudnick LLP; and Jeffrey C. Wisler, Esq., at Connolly Gallagher LLP. Sun Uniforms Finance LLC is owed $6.1 million in principal on a second lien note and holds two additional notes, each in the original principal of $1.08 million. Angelica Corp. holds an unsecured junior subordinate not in the principal amount of $5.48 million. Domenic E. Pacitti, Esq., at Klehr Harrison Harvey Branzburg, LLP, serves as the Debtors' counsel. Epiq Bankruptcy Solutions acts as the Debtors' administrative agent, and claims and noticing agent. The Debtors' financial advisor is Capstone Advisory Group, LLC. The Official Committee of Unsecured Creditors is represented by Seth Van Aalten, Esq., at Cooley LLP, and Ann M. Kashishian, Esq., at Cousins Chipman & Brown, LLP as counsel. The U.S Trustee for Region 3 appointed Boris Segalis of InfoLawGroup LLP as consumer privacy ombudsman in the case. METRO FUEL: Incurs $944,059 Net Loss for July --------------------------------------------- Metro Fuel Oil Corp., et al., on Aug. 20, 2013, filed its monthly operating report for the month ended July 31, 2013. The Debtor posted a net loss of $944,059 for the month ended July 31, 2013. As of July 31, 2013, the Debtor had total assets of $17.99 million, total liabilities of $74.28 million, and total stockholders' deficit of $56.29 million. At the beginning of July, Metro Fuel had a beginning book cash balance of $17.68 million. The Debtor had cash receipts of $47,912 and cash disbursements of $115,983. As a result, at the end of July, Metro Fuel had an ending book cash balance of $17.61 million. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/METRO_FUEL_julymor.pdf About Metro Fuel Metro Fuel Oil Corp., is a family-owned energy company, founded in 1942, that supplies and delivers bioheat, biodiesel, heating oil, central air conditioning units, ultra low sulfur diesel fuel, natural gas and gasoline throughout the New York City metropolitan area and Long Island. Owned by the Pullo family, Metro has 55 delivery trucks and a 10 million-gallon fuel terminal in Brooklyn. Financial problems resulted in part from cost overruns in building an almost-complete biodiesel plant with capacity of producing 110 million gallons a year. Based in Brooklyn, New York, Metro Fuel Oil Corp., fka Newtown Realty Associates, Inc., and several of its affiliates filed for Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Lead Case No. 12-46913) on Sept. 27, 2012. Judge Elizabeth S. Stong presides over the case. Nicole Greenblatt, Esq., at Kirkland & Ellis LLP, represents the Debtor. The Debtor selected Epiq Bankruptcy Solutions LLC as notice and claims agent. Th Debtor tapped Carl Marks Advisory Group LLC as financial advisor and investment banker, Curtis, Mallet-Prevost, Colt & Mosle LLP as co-counsel, AP Services, LLC as crisis managers for the Debtors, and appoint David Johnston as their chief restructuring officer. The petition showed assets of $65.1 million and debt totaling $79.3 million. Liabilities include $58.8 million in secured debt, with $48.3 million owing to banks and $10.5 million on secured industrial development bonds. Metro Terminals Corp., affiliate of Metro Fuel Oil Corp., disclosed $38,613,483 in assets and $71,374,410 in liabilities as of the Chapter 11 filing. The U.S. Trustee appointed seven-member creditors committee. Kelley Drye & Warren LLP represents the Committee. The Committee tapped FTI Consulting, Inc. as its financial advisor. On Feb. 15, 2013, the Bankruptcy Court entered an order approving the sale of substantially all of the assets of the Debtors to United Refining Energy Corp., for base purchase price of $27,000,000, subject to adjustments. NEOGENIX ONCOLOGY: Ends July with $7,318 Cash --------------------------------------------- Neogenix Oncology, Inc., on Aug. 28, 2013, filed its monthly operating report for the month ended July 31, 2013. The Debtor had zero total profit for July. Neogenix reported a beginning and ending cash balance of $7,318 for July. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/NEOGENIXONCOLOGY_julymor.pdf About Neogenix Oncology Neogenix Oncology Inc. in Rockville, Maryland, filed a Chapter 11 petition (Bankr. D. Md. Case No. 12-23557) on July 23, 2012, in Greenbelt with a deal to sell the assets to Precision Biologics Inc., absent higher and better offers. Founded in December 2003, Neogenix is a clinical stage, pre- revenue generating, biotechnology company focused on developing therapeutic and diagnostic products for the early detection and treatment of cancer. Neogenix, which has 10 employees, says it its approach and portfolio of three unique monoclonal antibody therapeutics -- mAb -- hold the potential for novel and targeted therapeutics and diagnostics for the treatment of a broad range of tumor malignancies. Thomas J. McKee, Jr., Esq., at Greenberg Traurig, LLP, in McLean, Virginia, serves as counsel. Kurtzman Carson Consultants LLC is the claims and notice agent. The Debtor estimated assets of $10 million to $50 million and debts of $1 million to $10 million. W. Clarkson McDow, Jr., U.S. Trustee for Region 4, appointed seven members to the committee of equity security holders. Sands Anderson PC represents the Official Committee of Equity Security Holders. The Committee tapped FTI Consulting, Inc., as its financial advisor. ORECK CORPORATION: Ends July with $6.07 Million Cash ---------------------------------------------------- Oreck Corporation, et. al., on Aug. 15, 2013, filed its monthly operating report for the month ended July 2013. Oreck posted a net loss of $2.43 million for July. As of July 2013, the Debtor had total assets of $11.26 million, total liabilities of $4.23 million, and total stockholders' equity of $7.03 million. The Debtor had a cumulative beginning book balance of $265,180 at the start of July. For the reporting period, the Debtor had total receipts of $15.28 million, total disbursements of $10.73 million and $1.26 million interbank transfers. Thus, at the end of July, the Debtor's ending book balance is $6.07 million. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/ORECK_CORPORATION_julymor.pdf 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. OVERSEAS SHIPHOLDING: Posts $1.03 Million Net Loss in June ---------------------------------------------------------- Overseas Shipholding Group, Inc., filed with the U.S. Securities and Exchange Commission its monthly operating report for June 2013. Overseas Shipholding reported a net loss of $1.03 million on $78.53 million of shipping revenues for the month. Bill Rochelle, the bankruptcy columnist for Bloomberg News, cites that income from vessel operations in the month was $3.7 million. Reorganization costs in the month were $8.5 million while income from affiliates was $3.9 million, the report noted. As of June 30, 2013, the Company had $4.06 billion in total assets, $3.69 billion in total liabilities and $363.4 million in total equity. At the beginning of the month, the Company had $573.66 million in cash. The Company reported total receipts of $84.08 million and total disbursements of $70.96 million. At June 30, 2013, the Company had $586.78 million in cash. A copy of the June monthly operating report is available at: http://bankrupt.com/misc/OVERSEAS_SHIPHOLDING_junemor.pdf About Overseas Shipholding Overseas Shipholding Group, Inc., headquartered in New York, is one of the largest publicly traded tanker companies in the world, engaged primarily in the ocean transportation of crude oil and petroleum products. OSG owns or operates 111 vessels that transport oil and petroleum products throughout the world. Overseas Shipholding Group and 180 affiliates filed voluntary Chapter 11 petitions (Bankr. D. Del. Lead Case No. 12-20000) on Nov. 14, 2012, disclosing $4.15 billion in assets and $2.67 billion in liabilities. Greylock Partners LLC Chief Executive John Ray serves as chief reorganization officer. James L. Bromley, Esq., and Luke A. Barefoot, Esq., at Cleary Gottlieb Steen & Hamilton LLP serve as OSG's Chapter 11 counsel. Derek C. Abbott, Esq., Daniel B. Butz, Esq., and William M. Alleman, Jr., at Morris, Nichols, Arsht & Tunnell LLP, serve as local counsel. Chilmark Partners LLC serves as financial adviser. Kurtzman Carson Consultants LLC is the claims and notice agent. The Export-Import Bank of China, owed $312 million used for the construction of five tankers, is represented by Louis R. Strubeck, Jr., Esq., and Kristian W. Gluck, Esq., at Fulbright & Jaworski LLP in Dallas; David L. Barrack, Esq., and Beret Flom, Esq., at Fulbright & Jaworski in New York; and John Knight, Esq., and Christopher Samis, Esq., at Richards Layton & Finger PA. Chilmark Partners, LLC serves as financial and restructuring advisor. Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton LLP, serve as co-counsel to the official committee of unsecured creditors. FTI Consulting, Inc., is the financial advisor and Houlihan Lokey Capital, Inc., is the investment banker. PROMMIS HOLDINGS: Lists $64.95MM Stockholders' Deficit in July -------------------------------------------------------------- Prommis Holdings, LLC et al., on Aug. 22, 2013, filed its monthly operating report for July 2013. The Debtors' consolidated statement of operations showed a net loss from continuing operations of $1.76 million for the month. As of July 31, 2013, the Debtor had total assets of $17.17 million, total liabilities of $82.13 million, and total stockholders' deficit of $64.95 million. At the beginning of July, the Debtor had $4.46 million in cash. Prommis Holdings had total cash receipts of $5.43 million and total cash disbursements of $6.11 million. As a result, at the end of July, the Debtor had total cash of $3.78 million. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/PROMMIS_HOLDINGS_julymor.pdf About Prommis Holdings Atlanta, Georgia-based Prommis Holdings, LLC, and its 10 affiliates delivered their petitions for voluntary bankruptcy under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 13-10551) on March 18, 2013. Three subsidiaries -- EC Closing Corp., EC Closing Corp. of Washington, and EC Posting Closing Corp. -- sought Chapter 11 protection (Bankr. D. Del. Case Nos. 13-11619 to 13-11621) on June 25, 2013. Prommis Holdings estimated assets between $10 million and $50 million and debts between $50 million and $100 million. Prommis Solutions, LLC, a debtor-affiliate disclosed $18,488,803 in assets and $260,232,313 in liabilities as of the Chapter 11 filing. Judge Brendan Linehan Shannon presides over the case. Steven K. Kortanek, Esq., at Womble Carlyle Sandridge & Rice, LLP, serves as the Debtors' counsel, while David S. Meyer, Esq., at Kirkland & Ellis LLP serves as co-counsel. The Debtors' restructuring advisor is Huron Consulting Services, LLC. Donlin Recano & Company, Inc., is the Debtors' claims agent. The Official Committee of Unsecured Creditors tapped Saul Ewing LLP and Hahn & Hessen LLP as its co-counsels, and FTI Consulting, Inc., as its financial advisor. ROTECH HEALTHCARE: Records $10.95 Million Net Loss in July ---------------------------------------------------------- Rotech Healthcare Inc., et al., on Aug. 29, 2013, filed its monthlyoperating report for the month ended July 31, 2013. The Debtors posted a net loss of $10.95 million on net revenues of $36.85 million for July. A $3.48 million restructuring expense contributed to July net loss. At July 31, Rotech Healthcare, et al., had assets of $249.93 million, total liabilities of $669.77 million, and total stockholders' deficit of $419.84 million. For July, the Debtors had total cash receipts of $37.92 million and total cash disbursements of $43.62 million. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/ROTECHHEALTHCARE_julymor.pdf About Rotech Healthcare Based in Orlando, Florida, Rotech Healthcare Inc. (NASDAQ: ROHI) -- http://www.rotech.com/-- provides home medical equipment and related products and services in the United States, with a comprehensive offering of respiratory therapy and durable home medical equipment and related services. The company provides equipment and services in 48 states through approximately 500 operating centers located primarily in non-urban markets. The Company reported a net loss of $14.76 million in 2011, a net loss of $4.20 million in 2010, and a net loss of $21.08 million in 2009. The Company's balance sheet at Sept. 30, 2012, showed $255.76 million in total assets, $601.98 million in total liabilities, and a $346.22 million total stockholders' deficiency. On April 8, 2013, Rotech Healthcare and 114 subsidiary companies filed petitions seeking relief under chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 13-10741) to implement a pre- arranged plan negotiated with secured lenders. Attorneys at Proskauer Rose LLP, and Young, Conaway, Stargatt & Taylor serve as counsel to the Debtors; Foley & Lardner LLP is the healthcare regulatory counsel; Akin Gump Strauss Hauer & Feld LLP is the special healthcare regulatory counsel; Barclays Capital Inc. is the financial advisor; Alix Partners, LLP is the restructuring advisor; and Epiq Bankruptcy Solutions LLC is the claims agent. Prepetition term loan lender and DIP lender Silver Point Capital and other consenting noteholders are represented by Wachtell, Lipton, Rosen & Katz, and Richards Layton & Finger PA. The Official Committee of Unsecured Creditors tapped Otterbourg, Steindler, Houston & Rosen, P.C., as counsel; Buchanan Ingersoll & Rooney PC as Delaware counsel; and Grant Thornton LLP as financial advisor. The U.S. Trustee at the end of April appointed an official committee of equity holders. Members include Alden Global Recovery Master Fund LP, Varana Capital Master LP, Wynnefield Partners Small Cap Value LP I, Bastogne Capital Partners, LP, and Kenneth S. Grossman P.C. Pension Plan. The Equity Panel is represented by Bayard, P.A. as Delaware counsel. Rotech on Aug. 29 disclosed that the Bankruptcy Court has approved the Second Amended Joint Plan of Reorganization, along with $358 million of exit financing commitments received from Wells Fargo and certain existing holders of the 10.5% Senior Second Lien Secured Notes. The reorganization plan was confirmed at a court hearing in Delaware and was supported by the Statutory Committee of Unsecured Creditors. Creditors entitled to vote overwhelmingly voted in favor of the reorganization plan. Under the reorganization plan, the Company's existing common stock will be cancelled and substantially all of the new common stock of reorganized Rotech will be distributed to holders of the 10.5% Senior Second Lien Secured Notes. Trade suppliers are to be paid in full, if they agree to continue providing credit. The existing $23.5 million term loan would be paid in full, and the $230 million in 10.75 percent first-lien notes will be amended. SPECIALTY PRODUCTS: Posts $1.22 Million Net Loss for July --------------------------------------------------------- Specialty Products Holding Corp., on Aug. 29, 2013, filed its monthly operating report for the month ended July 2013. The Debtor posted net loss of $1.22 million for the month ended July 2013. As of July 2013, the Debtor had total assets of $434.29 million, total liabilities of $231.64 million and total stockholders' equity of $202.64 million. At the beginning of July, the Debtor had $21.15 million in cash. Specialty Products had total cash receipts of $37.89 million and total cash disbursements of $44 million. As a result, at the end of July, the Company had total cash of $15.04 million. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/SPECIALTYPRODUCTS_julymor.pdf About Specialty Products Cleveland, Ohio-based Specialty Products Holdings Corp., aka RPM, Inc., is a wholly owned subsidiary of RPM International Inc. The Company is the holding company parent of Bondex International, Inc., and the direct or indirect parent of certain additional domestic and foreign subsidiaries. The Company claims to be a leading manufacturer, distributor and seller of various specialty chemical product lines, including exterior insulating finishing systems, powder coatings, fluorescent colorants and pigments, cleaning and protection products, fuel additives, wood treatments and coatings and sealants, in both the industrial and consumer markets. The Company filed for Chapter 11 bankruptcy protection (Bankr. D. Del. Case No. 10-11780) on May 31, 2010. Gregory M. Gordon, Esq., Dan B. Prieto, Esq., and Robert J. Jud, Esq., at Jones Day, serve as bankruptcy counsel. Daniel J. DeFranceschi, Esq., and Zachary I. Shapiro, Esq., at Richards Layton & Finger, serve as co- counsel. Logan and Company is the Company's claims and notice agent. The Company estimated its assets and debts at $100 million to $500 million. The Company's affiliate, Bondex International, Inc., filed a separate Chapter 11 petition on May 31, 2010 (Case No. 10-11779), estimating its assets and debts at $100 million to $500 million. On May 20, 2013, the Bankruptcy Court entered an order estimating the amount of the Debtors' asbestos liabilities, and a related memorandum opinion in support of the estimation order. The Bankruptcy Court estimated the current and future asbestos claims associated with Bondex International, Inc. and Specialty Products Holding at approximately $1.17 billion. The estimation hearing represents one step in the legal process in helping to determine the amount of potential funding for a 524(g) asbestos trust. TRINITY COAL: Ends July with $653,530 Cash ------------------------------------------ Trinity Coal Corporation, on Aug. 23, 2013, filed its monthly operating report for the month ended July 31, 2013. The Company posted a net loss of $2.58 million on net revenue of $3.75 million for the month ended July 31, 2013. As of June 30, 2013, the Company had total assets of $565.94 million, total liabilities of $432.96 million and total stockholders' equity of $132.99 million. The Company had a $536,732 beginning cash balance and a $653,530 ending cash balance. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/TRINITYCOAL_julymor.pdf About Trinity Coal Trinity Coal Corp. is a coal mining company that owns coal deposits located in the Appalachian region of the eastern United States, specifically, in Breathitt, Floyd, Knott Magoffin, and Perry Counties in eastern Kentucky and in Boone, Fayette, Mingo, McDowell and Wyoming Counties in West Virginia. Trinity's coal mining operations are organized into six distinct coal mining complexes. Three complexes are located in Kentucky and are referred to as Prater Branch Resources, Little Elk Mining and Levisa Fork. The Kentucky Operations produced compliance and low sulfur steam coal. Three complexes are located in West Virginia and are referred to as Deep Water Resources, North Springs Resources and Falcon Resources. Trinity is a wholly owned subsidiary of privately held multinational conglomerate Essar Global Limited. Credit Agricole Corporate & Investment Bank, ING Capital LLC and Natixis, New York Branch filed an involuntary petition for relief under Chapter 11 against Trinity Coal Corporation and 15 affiliates (Bankr. E.D. Ky. Lead Case No. 13-50364). The three entities say they are owed a total of $104 million on account loans provided to Trinity. On Feb. 14, 2013, Austin Powder Company, Whayne Supply Company and Cecil I. Walker Machinery Co. filed an involuntary petition for relief under Chapter 11 (Bankr. E.D. Ky. Case No. 13-50335) against Frasure Creek Mining, LLC. On Feb. 19, 2013, Credit Agricole, ING Capital and Natixis joined as petitioning creditors. On March 4, 2013, the Debtors filed their consolidated answer to involuntary petitions and consent to an order for relief and reservation of rights, thereby consenting to the entry of an order for relief in each of their respective Chapter 11 cases. An order for relief in each of the Debtors was entered by the Court on March 4, 2013, which converted the involuntary cases to voluntary Chapter 11 cases. Sturgill, Turner, Barker & Moloney, PLLC serves as local counsel to the Official Committee of Unsecured Creditors. VERTIS HOLDINGS: Posts $1.87 Million Net Loss in July ----------------------------------------------------- Vertis Holdings, Inc., on Aug. 30, 2013, filed its monthly operating report for July 2013. The Debtor reported a net loss of $1.87 million on net sales of $15,428 for the month ended July 2013. As of July 31, 2013, Vertis Holdings had total assets of $107.63 million, total liabilities of $540.4 million, and total stockholders' deficit of $432.78 million. At the beginning of July, Vertis Holdings had $25.29 million in cash. The Debtor had a net cash flow of $11.88 million. As a result, at the end of the month, Vertis Holdings had total cash of $13.4 million. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/VERTIS_HOLDINGS_julymor.pdf About Vertis Vertis Holdings Inc. -- http://www.thefuturevertis.com/-- provides advertising services in a variety of print media, including newspaper inserts such as magazines and supplements. Vertis and its affiliates (Bankr. D. Del. Lead Case No. 12-12821), returned to Chapter 11 bankruptcy on Oct. 10, 2012, this time to sell the business to Quad/Graphics, Inc., for $258.5 million, subject to higher and better offers in an auction. As of Aug. 31, 2012, the Debtors' unaudited consolidated financial statements reflected assets of approximately $837.8 million and liabilities of approximately $814.0 million. Bankruptcy Judge Christopher Sontchi presides over the 2012 case. Vertis is advised by Perella Weinberg Partners, Alvarez & Marsal, and Cadwalader, Wickersham & Taft LLP. Quad/Graphics is advised by Blackstone Advisory Partners, Arnold & Porter LLP and Foley & Lardner LLP, special counsel for antitrust advice. Kurtzman Carson Consultants LLC is the Debtors' claims agent. Quad/Graphics is a global provider of print and related multichannel solutions for consumer magazines, special interest publications, catalogs, retail inserts/circulars, direct mail, books, directories, and commercial and specialty products, including in-store signage. Headquartered in Sussex, Wis. (just west of Milwaukee), the Company has approximately 22,000 full-time equivalent employees working from more than 50 print-production facilities as well as other support locations throughout North America, Latin America and Europe. Vertis first filed for bankruptcy (Bankr. D. Del. Case No. 08-11460) on July 15, 2008, to complete a merger with American Color Graphics. ACG also commenced separate bankruptcy proceedings. In August 2008, Vertis emerged from bankruptcy, completing the merger. Vertis against filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y. Case No. 10-16170) on Nov. 17, 2010. The Debtor estimated its assets and debts of more than $1 billion. Affiliates also filed separate Chapter 11 petitions -- American Color Graphics, Inc. (Bankr. S.D.N.Y. Case No. 10-16169), Vertis Holdings, Inc. (Bankr. S.D.N.Y. Case No. 10-16170), Vertis, Inc. (Bankr. S.D.N.Y. Case No. 10-16171), ACG Holdings, Inc. (Bankr. S.D.N.Y. Case No. 10-16172), Webcraft, LLC (Bankr. S.D.N.Y. Case No. 10-16173), and Webcraft Chemicals, LLC (Bankr. S.D.N.Y. Case No. 10-16174). The bankruptcy court approved the prepackaged Chapter 11 plan on Dec. 16, 2010, and Vertis consummated the plan on Dec. 21. The plan reduced Vertis' debt by more than $700 million or 60%. GE Capital Corporation, which serves as DIP Agent and Prepetition Agent, is represented in the 2012 case by lawyers at Winston & Strawn LLP. Morgan Stanley Senior Funding Inc., the agent under the prepetition term loan, and as term loan collateral agent, is represented by lawyers at White & Case LLP, and Milbank Tweed Hadley & McCloy LLP. On Jan. 16, 2013, Quad/Graphics completed the acquisition of Vertis Holdings for a net purchase price of $170 million. This assumes the purchase price of $267 million less the payment of $97 million for current assets that are in excess of normalized working capital requirements. ********* 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. 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