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/raid1/www/Hosts/bankrupt/TCR_Public/130921.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 21, 2013, Vol. 17, No. 262 Headlines AGFEED USA: Posts $528,045 Net Loss at Aug. 2 ATLS ACQUISITION: Ends July with $40.69 Million Cash Balance CODA HOLDINGS: Ends July with $2.26 Million Cash EXCEL MARITIME: Incurs $10.76 Million Net Loss in August FIRST REGIONAL: Reports $179,000 Net Loss in August ORCHARD SUPPLY: Had $1.1 Million in Cash at August 3 ORECK CORPORATION: Ends August with $5.06 Million Cash OVERSEAS SHIPHOLDING: Reports $1.3 Million Net Income in July PENSON WORLDWIDE: Records $24,764 Net Loss in July ********* AGFEED USA: Posts $528,045 Net Loss at Aug. 2 --------------------------------------------- AgFeed USA, LLC, and its affiliates, on Aug. 30, 2013, filed its monthly operating report for the period from July 15, 2013, to Aug. 2, 2013. The Debtors' consolidated statement of operations showed a net loss from continuing operations of $528,045 on $11.5 million of net revenues for the reporting period. As of Aug. 2, 2013, AgFeed USA had $106.27 million in total assets, $79.47 million in total liabilities, and $26.79 million in total equity. In mid-July, the Debtor had $44,177 in cash. For the reporting period, AgFeed USA had $468,750 in total cash receipts and $103,260 in total reimbursements resulting to a $409,667 cash balance at the beginning of August. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/AGFEEDUSA_july-augmor.pdf About AgFeed Industries 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. The U.S. Trustee has appointed a five-member official committee of unsecured creditors to the Chapter 11 cases. The Creditors' Committee tapped Lowenstein Sandler as lead bankruptcy counsel and Greenberg Traurig, LLP, as co-counsel. CohnReznick LLP serves as the Creditors' Committee's financial advisor. A three-member official committee of equity security holders was also appointed to the Chapter 11 cases. The Equity Committee tapped Sugar Felsenthal Grais & Hammer LLP and Elliott Greenleaf as co-counsel. ATLS ACQUISITION: Ends July with $40.69 Million Cash Balance ------------------------------------------------------------ ATLS Acquisition, LLC, on Sept. 4, 2013, filed its monthly operating report for the month of July. At the beginning of July, the Debtor had $44.22 million in cash. ATLS Acquisition had $23.76 million in total receipts and total cash disbursements of $27.29 million for the reporting period, resulting to $40.69 million cash at the end of July. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/ATLS_ACQUISITION_julymor.pdf 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. Dennis A. Meloro, Esq., at Greenberg Traurig, LLP, serves as the Debtor's 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. CODA HOLDINGS: Ends July with $2.26 Million Cash ------------------------------------------------ Adoc Holdings, Inc., fka Coda Holdings, Inc. and its affiliates, on Sept. 10, 2013, filed its monthly operating report for July 2013. The Debtor reported a net loss of $852,604 for July. As of July 2013, the Debtor had $23.03 million total assets, $117.36 million total liabilities and $132.88 million total stockholders' deficit. At the beginning of July, the Debtor had $3.11 million in cash while net cash used in operating activities was $852,604 resulting in $2.26 million cash at the end of July. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/CODA_HOLDINGS_julymor.pdf About CODA Holdings Los Angeles, California-based CODA Energy -- http://www.codaenergy.com-- made an electric auto that was a commercial failure. The company marketed the Coda Sedan, which sold only 100 copies. It was an electrically powered version of the Hafei Saibao, made in China. After bankruptcy, Los Angeles- based Coda intends to concentrate on making stationery electric- storage systems. CODA Holdings, Inc., Coda Energy LLC and three other affiliates filed for Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 13-11153) on May 1, 2013, to enable the Company to complete a sale, confirm a plan, and emerge from bankruptcy in a stronger position to execute its new business plan. The Company expects the sale process to take 45 days to complete. FCO MA CODA Holdings LLC, an affiliate of Fortress Investment Group, is leading a consortium of lenders intending to provide DIP financing to enable the Company's energy storage business to remain fully operational during the restructuring process. The consortium, or its designee, will also as stalking horse bidder to acquire the Company post-bankruptcy. In addition, the Company will seek to monetize value of its existing automotive business assets. CODA disclosed assets of $10 million to $50 million and liabilities of less than $100 million. Coda Automotive Inc., disclosed $24,950,641 in assets and $95,859,413 in liabilities as of the Chapter 11 filing. The Debtors have incurred prepetition a significant amount of secured indebtedness: secured notes of with principal in the amount of $59.1 million; term loans in the principal amount of $12.6 million; and a bridge loan with $665,000 outstanding. FCO and other bridge loan lenders have "enhanced priority" over other secured noteholders that did not participate in the bridge loans, pursuant to the intercreditor agreement. Jeffrey M. Schlerf, Esq., John H. Strock, Esq., and L. John Bird, Esq., at Fox Rothschild LLP are the proposed counsel for the Debtors. CODA's legal advisor in connection with the restructuring is White & Case LLP. Emerald Capital Advisors serves as its chief restructuring officer and restructuring advisor, and Houlihan Lokey serves as its investment banker for the restructuring. Sidley Austin LLP is serving as FCO MA CODA Holdings LLC's legal advisor. Brent T. Robinson, Esq., at Robinson, Anthon & Tribe represents the Debtors in their restructuring efforts. The Committee tapped Brown Rudnick as its counsel and Deloitte Financial Advisory Services LLP as its financial advisor. EXCEL MARITIME: Incurs $10.76 Million Net Loss in August -------------------------------------------------------- Excel Maritime Carriers Ltd. and its affiliates, on Sept. 16, 2013, filed a monthly operating report for August 2013. The Debtors' consolidated statement of operations showed a net loss from continuing operations of $10.76 million on $9.89 million of net revenues for the month. As of Aug. 31, 2013, the Debtors had $946.39 million in total assets, $952.13 million in total liabilities, and a $5.73 million total shareholders' deficit. At Aug. 1, the Debtors had a beginning book balance of $27.43 million. They had total receipts of $20.28 million and total cash disbursements of $27.9 million for the entire month. As a result, the Debtors had $19.81 million cash at the end of the month. A copy of the monthly operating report is available at: http://bankrupt.com/misc/EXCELMARITIME_augmor.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. The Creditors' Committee is represented by Michael S. Stamer, Esq., Sean E. O'Donnell, Esq., and Sunish Gulati, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York; and Sarah Link Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Dallas, Texas. FIRST REGIONAL: Reports $179,000 Net Loss in August --------------------------------------------------- First Regional Bancorp filed with the U.S. Securities and Exchange Commission its monthly operating report for August 2013. First Regional reported a net loss of $179,020 on $0 net sales for August. As of Aug. 31, 2013, the Company had $921,430 in total assets, $97.81 million in total liabilities and a $96.89 million total deficit. At the beginning of the month, the Company had $164,393 in cash. The Company reported $0 of total receipts and $17,962 of total disbursements for the period. At Aug. 31, 2013, the Company had $146,430 in cash. A copy of the monthly operating report is available at: http://is.gd/ZODRmX About First Regional Bancorp First Regional Bancorp (NASDAQ-GSM: FRGB) is the bank holding company for First Regional Bank, Los Angeles, California. First Regional Bank was closed at the end of January 2010 by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation as receiver. First Regional Bancorp filed for Chapter 11 protection (Bankr. C.D. Calif. Case No. 12-31372) on June 19, 2012. Jon L Dalberg, Esq., at Landau Gottfried & Berger LLP, represents the Debtor in its Chapter 11 case. The Debtor estimated assets of $1 million to $10 million and debts of $100 million to $500 million in its Chapter 11 petition. ORCHARD SUPPLY: Had $1.1 Million in Cash at August 3 ---------------------------------------------------- OSH 1 Liquidating Corporation, fka Orchard Supply Hardware Stores Corporation, et al., filed with the U.S. Securities and Exchange Commission their monthly operating report for the period from July 7 through Aug. 3, 2013. Orchard Supply reported a net loss of $6.24 million on $46.88 million of revenues for the four weeks ended Aug. 3, 2013. The Debtors' consolidated balance sheet as of Aug. 3, 2013, showed $404.31 million in total assets, $467.70 million in total liabilities and a $63.38 million in stockholders' deficit. At July 7, 2013, the Debtors had $4.52 million in cash. The Debtors reported total receipts of $169.58 million and total disbursements of $172.97 million. As a result, the Debtors had $1.13 million in cash at Aug. 3. A copy of the monthly operating report is available for free at: http://is.gd/FOFgqo About Orchard Supply San Jose, Cal.-based Orchard Supply Hardware Stores Corporation operates neighborhood hardware and garden stores focused on paint, repair and the backyard. It was spun off from Sears Holdings Corp. in 2012. Orchard Supply and two affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 13-11565) on June 16 to facilitate a restructuring of the company's balance sheet and a sale of its assets for $205 million in cash to Lowe's Companies, Inc., absent higher and better offers. In addition to the $205 million cash, Lowe's has agreed to assume payables owed to nearly all of Orchard's supplier partners. Bankruptcy Judge Christopher S. Sontchi oversees the case. Michael W. Fox signed the petitions as senior vice president and general counsel. The Debtors disclosed total assets of $441,028,000 and total debts of $480,144,000. Stuart M. Brown, Esq., at DLA Piper LLP (US), in Wilmington, Delaware; and Richard A. Chesley, Esq., Chun I. Jang, Esq., and Daniel M. Simon, Esq., at DLA Piper LLP (US), in Chicago, Illinois, are the Debtors' counsel. Moelis & Company LLC serves as the Debtors' investment banker. FTI Consulting, Inc., serves as the Debtors' financial advisors. A&G Realty Partners, LLC, serves as the Debtors' real estate advisors. BMC Group Inc. is the Debtors' claims and noticing agent. The Official Committee of Unsecured Creditors appointed in case has retained Pachulski Stang Ziehl & Jones LLP as counsel, and Alvarez & Marsal as financial advisors. Lowe's Cos. completed the $205 million acquisition of 72 of Orchard Supply's 91 stores. The Company changed its name to OSH 1 Liquidating Corporation and reduced reduce the size and simplified the structure of the Board of Directors effective as of Aug. 20, 2013. ORECK CORPORATION: Ends August with $5.06 Million Cash ------------------------------------------------------ Oreck Corporation and its affiliates, on Sept. 9, 2013, filed its monthly operating report for the month ended August 2013. Oreck posted a net loss of $628,071 for August. As of Aug. 2013, the Debtor had total assets of $10.79 million, total liabilities of $4.23 million, and total stockholders' equity of $6.56 million. The Debtor had a cumulative beginning book balance of $6.07 million at the start of August. For the reporting period, the Debtor had total receipts of $604,701, total disbursements of $1.06 million and $12,998 interbank transfers. Thus, at the end of August, the Debtor's ending book balance is $5.06 million. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/ORECKCORP_augmor.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: Reports $1.3 Million Net Income in July ------------------------------------------------------------- Overseas Shipholding Group, Inc., et al., filed with the U.S. Securities and Exchange Commission their monthly operating report for July 2013. The Debtors reported net income of $1.35 million on $77.90 million of shipping revenues for the month of July. Bloomberg News' Bill Rochelle noted that reorganization costs were $5.2 million while income from affiliates was $2.8 million. The report further stated that OSG had a dispute with secured lenders over an expansion of the exclusive right to propose a reorganization plan. The hearing that would have been held Sept. 16 was canceled because the contending parties settled their disputes, according to a court record, the report cites. The documented agreement is being prepared for court filing. As of July 31, 2013, the Debtors' consolidated balance sheets showed $4.05 billion in total assets, $3.69 billion in total liabilities and $366.43 million in total equity. At the beginning of the month, the Debtors had $586.78 million in cash. They reported $88.09 million of total receipts and $80.47 million of total disbursements. Thus, at July 31, the Debtors had ending cash balance of $594.41 million. A copy of the monthly operating report is available for free at: http://is.gd/eRzSCj 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. PENSON WORLDWIDE: Records $24,764 Net Loss in July -------------------------------------------------- Penson Worldwide Inc. and its affiliates, on Sept. 3, 2013, filed its monthly operating report for July 2013. The Company reported a net loss of $24,764 for the period ended July 2013. As of July 31, 2013, the company had total assets of ($42.22 million), total liabilities of $71.23 million and $113.45 million in total deficit. A full-text copy of the monthly operating report is available at: http://bankrupt.com/misc/PENSONWORLDWIDE_julymor.pdf About Penson Worldwide Plano, Texas-based Penson Worldwide Inc. and its affiliates filed for Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 13-10061) on Jan. 11, 2013. Founded in 1995, Penson Worldwide is provider of a range of critical securities and futures processing infrastructure products and services to the global financial services industry. The company's products and services include securities and futures clearing and execution, financing and cash management technology and other related offerings, and it provides tools and services to support trading in multiple markets, asset classes and currencies. Penson was one of the top two clearing brokers overall in the United States. Its foreign-based subsidiaries were some of the largest independent clearing brokers in Canada and Australia and the second largest independent clearing broker in the United Kingdom as of Dec. 31, 2010. In 2012, the company sold its futures division to Knight Capital Group Inc. and its broker-deal subsidiary to Apex Clearing Corp. But the company was unable to successfully streamline is business after the asset sales. Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Young, Conaway, Stargatt & Taylor serve as counsel to the Debtors. Kurtzman Carson Consultants LLC is the claims and notice agent. The U.S. Trustee for Region 3 appointed three members to the Official Committee of Unsecured Creditors: (i) Schonfeld Group Holdings LLC; (ii) SunGard Financial Systems LLC; and (iii) Wells Fargo Bank, N.A., as Indenture Trustee. The Committee selected Hahn & Hessen LLP and Cousins Chipman & Brown, LLP to serve as its co-counsel, and Capstone Advisory Group, LLC, as its financial advisor. Kurtzman Carson Consultants LLC serves as its information agent. The company estimated $100 million to $500 million in assets and liabilities in its Chapter 11 petition. The last publicly filed financial statements as of June 30 showed assets of $1.17 billion and liabilities totaling $1.227 billion. Penson Worldwide's Fifth Amended Joint Liquidation Plan became effective, and the Company emerged from Chapter 11 protection. The Court confirmed the Plan on July 31, 2013. ********* 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. *** End of Transmission ***