TCR_Public/131109.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, November 9, 2013, Vol. 17, No. 311


                            Headlines

AMERICAN AIRLINES: Incurs $75 Million Net Loss in September
CODA HOLDINGS: Records $1.07 Million Net Loss in August
CODA HOLDINGS: Net Loss Drops to $692,579 in September
FAIRMONT GENERAL: Files Initial Monthly Operating Report
FRIENDFINDER NETWORKS: Files Initial Monthly Operating Report

FRIENDFINDER NETWORKS: Posts $1.86 Million Net Loss at Sept. 30
HOSTESS BRANDS: Ends September with $90.62 Million Cash
METRO FUEL: Lists $32,524 Net Loss at September 30
MSD PERFORMANCE: Lists $23,424 Net Income in September
NIRVANIX INC: Files Initial Monthly Operating Report

RAPID-AMERICAN CORP: Has $3.5 Million Cash Balance in September
SAVIENT PHARMACEUTICALS: PROJECTS $6.38MM in Receipts Thru January
SPECIALTY PRODUCTS: Posts $1.18 Million Net Loss in September
VERTIS HOLDINGS: Reports $883,288 Consolidated Sept. Net Loss

* Cross-Border Insolvency & Chapter 11 Webinar Set for Dec. 10

                            *********


AMERICAN AIRLINES: Incurs $75 Million Net Loss in September
-----------------------------------------------------------
AMR Corporation and its subsidiaries, filed with the U.S.
Securities and Exchange Commission, their monthly operating report
for September 2013.

AMR Corp. reported a net loss of $75 million on total operating
revenues of $2 billion for September.

On September 30, the Debtors had $26.78 billion in total assets,
$34.70 billion in total liabilities, and a $7.92 billion total
shareholders' deficit.

At the beginning of the month, the Debtors had $643 million cash.
The Debtors had total cash receipts of $715 million from operating
and financing activities and total cash disbursements of $641
million for investing activities.  Thus, at month end, the Debtors
had $717 million cash.

A copy of the September monthly operating report is available for
free at the SEC at http://is.gd/2OLq0o

                      About American Airlines

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

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

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

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

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

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

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

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


CODA HOLDINGS: Records $1.07 Million Net Loss in August
-------------------------------------------------------
Adoc Holdings, Inc., formerly Coda Holdings, Inc. and its
affiliates, on Oct. 31, 2013, filed its monthly operating report
for August 2013.

The Debtor reported a net loss of $1.07 million for August.

As of Aug. 31, 2013, the Debtor had $21.95 million total assets,
$117.36 million total liabilities and $133.96 million total
stockholders' deficit.

At the beginning of August, the Debtor had $2.26 million in cash
while net cash used in operating activities was $1.07 million,
resulting in $1.19 million cash at the end of the month.

A full-text copy of the monthly operating report is available at:

         http://bankrupt.com/misc/CODAHOLDINGS_augmor.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.


CODA HOLDINGS: Net Loss Drops to $692,579 in September
------------------------------------------------------
Adoc Holdings, Inc., formerly Coda Holdings, Inc. and its
affiliates, on Oct. 31, 2013, filed its monthly operating report
for September 2013.

The Debtor reported a net loss of $692,579 for September, as
compared to a $1.07 million net loss reported in the previous
month.

As of September 2013, the Debtor had $21.26 million total assets,
$117.36 million total liabilities, and $134.65 million total
stockholders' deficit.

At the beginning of September, the Debtor had $1.19 million in
cash while net cash used in operating activities was $692,579
resulting in $496,359 cash at the end of September.

A full-text copy of the monthly operating report is available at:

        http://bankrupt.com/misc/CODAHOLDINGS_septmor.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.


FAIRMONT GENERAL: Files Initial Monthly Operating Report
--------------------------------------------------------
Fairmont General Hospital Inc. and its affiliates, on Oct. 31,
2013, filed an initial monthly operating report for the period
from Oct. 6, 2013 to March 2, 2014.

The Debtor forecasts a total of $37.39 million in total receipts
and $38.97 million in total cash disbursements for the cash flow
projection period.

The Debtor also estimates an ending cash balance of $1.12 million
for the 22-week period.

A copy of the Initial MOR is available for free at:

        http://bankrupt.com/misc/FAIRMONTGENERAL_mor2.pdf

                 About Fairmont General

Fairmont General Hospital Inc. and Fairmont Physicians, Inc.,
which operate a 207-bed acute-care facility in Fairmont, West
Virginia, sought Chapter 11 bankruptcy protection (Bankr. N.D.
W.Va. Case No. 13-01054) on Sept. 3, 2013, listing between $10
million and $50 million in both assets and debts.

The fourth-largest employer in Marion County, West Virginia, filed
for bankruptcy as it looks to partner with another hospital or
health system.

The Debtors are represented by Rayford K. Adams, III, Esq., at
Spilman Thomas & Battle, PLLC, in Winston-Salem, North Carolina;
David R. Croft, Esq., at Spilman Thomas & Battle, PLLC, in
Wheeling, West Virginia, and Michael S. Garrison, Esq., at Spilman
Thomas & Battle, PLLC, in Morgantown, West Virginia.  The Debtors'
financial analyst is Gleason & Associates, P.C.  The Debtors'
claims and noticing agent is Epiq Bankruptcy Solutions.


FRIENDFINDER NETWORKS: Files Initial Monthly Operating Report
-------------------------------------------------------------
FriendFinder Networks, formerly Penthouse Media Group, filed an
initial monthly operating report on Oct. 26, 2013.

The Initial MOR includes a cash flow projection for the 12-month
period from October 2013 through September 2014.  For November
2013, the Debtor forecasts a $24.80 million beginning cash
balance, $19.99 million in total receipts and $20.82 million in
total disbursements, resulting to a $23.97 million ending cash
balance.

A copy of the Debtor's Initial MOR and 12-month cash flow forecast
is available for free at:

       http://bankrupt.com/misc/FRIENDFINDERNETWORKS_mor.pdf

                    About FriendFinder Networks

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

FriendFinder Networks reported a net loss of $49.44 million
in 2012, a net loss of $31.14 million in 2011, and a net loss of
$43.15 million in 2010.

FriendFinder Networks and affiliates, including lead debtor PMGI
Holdings Inc., sought bankruptcy protection (Bankr. D. Del. Lead
Case No. 13-12404) on Sept. 17, 2013, estimating assets of
$465.3 million and debt totaling $662 million.

The Debtors are represented by Nancy A. Mitchell. Esq., Matthew L.
Hinker, Esq., and Paul T. Martin, Esq., at Greenberg Traurig, LLP,
in New York, as lead bankruptcy counsel; and Dennis A. Meloro,
Esq., in Wilmington, Delaware, as local Delaware counsel.  Akerman
Senterfitt serves as the Debtors' special and conflicts counsel.
The Debtors' financial advisor is SSG Capital Advisors LLC.  BMC
Group, Inc., is the Debtors' claims and noticing agent.

On Sept. 21, 2013, the Debtors filed a plan of reorganization
containing details on a reorganization worked out with about 80
percent of first and second-lien lenders before the Sept. 17
Chapter 11 filing.  Under the Plan, holders of the $234.3 million
in 14 percent first-lien notes will receive accrued interest plus
an equal amount in new 14 percent first-lien notes to mature in
five years.  Excess cash will be used in part to pay down
principal on the notes before maturity.  Holders of $330.8 million
in two issues of second-lien notes are to receive all the new
equity.


FRIENDFINDER NETWORKS: Posts $1.86 Million Net Loss at Sept. 30
---------------------------------------------------------------
FriendFinder Networks, formerly Penthouse Media Group, and its
affiliates, on Oct. 28, 2013, filed a monthly operating report for
the period from Sept. 17, 2013 through Sept. 30, 2013.

The Debtor's statement of operations showed a net loss from
continuing operations of $1.86 million on $9.29 million of net
revenues for the month.

As of Sept. 30, 2013, the Debtor had $459.68 million in total
assets, $668.34 million in total liabilities, and a $208.65
million total shareholders' deficit.

At Sept. 17, the Debtor had a beginning book balance of
$28.19 million.  FriendFinder had total receipts of $18.02 million
and total cash disbursements of $20.79 million for the entire
month.  As a result, the Debtor had $25.43 million cash at the end
of the month.

A copy of the monthly operating report is available at:

   http://bankrupt.com/misc/FRIENDFINDERNETWORKS_septmor.pdf

                    About FriendFinder Networks

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

FriendFinder Networks reported a net loss of $49.44 million
in 2012, a net loss of $31.14 million in 2011, and a net loss of
$43.15 million in 2010.

FriendFinder Networks and affiliates, including lead debtor PMGI
Holdings Inc., sought bankruptcy protection (Bankr. D. Del. Lead
Case No. 13-12404) on Sept. 17, 2013, estimating assets of
$465.3 million and debt totaling $662 million.

The Debtors are represented by Nancy A. Mitchell. Esq., Matthew L.
Hinker, Esq., and Paul T. Martin, Esq., at Greenberg Traurig, LLP,
in New York, as lead bankruptcy counsel; and Dennis A. Meloro,
Esq., in Wilmington, Delaware, as local Delaware counsel.  Akerman
Senterfitt serves as the Debtors' special and conflicts counsel.
The Debtors' financial advisor is SSG Capital Advisors LLC.  BMC
Group, Inc., is the Debtors' claims and noticing agent.

On Sept. 21, 2013, the Debtors filed a plan of reorganization
containing details on a reorganization worked out with about 80
percent of first and second-lien lenders before the Sept. 17
Chapter 11 filing.  Under the Plan, holders of the $234.3 million
in 14 percent first-lien notes will receive accrued interest plus
an equal amount in new 14 percent first-lien notes to mature in
five years.  Excess cash will be used in part to pay down
principal on the notes before maturity.  Holders of $330.8 million
in two issues of second-lien notes are to receive all the new
equity.


HOSTESS BRANDS: Ends September with $90.62 Million Cash
-------------------------------------------------------
Old HB, Inc., f/k/a Hostess Brands, Inc., et al., on Oct. 25,
2013, filed an operating report for the period from Aug. 25 to
Sept. 21, 2013.

The Debtor reported a net loss of $26.45 million for the reporting
period.

As of Sept. 21, 2013, Hostess Brands had total assets of
$317.36 million, total liabilities of $2.73 billion, and total
stockholders' deficit of $2.42 billion.

The Debtor had $43.85  million in unrestricted cash at the
beginning of the reporting period.  It had total cash receipts
of $56.88 million and total cash disbursements of $10.12 million
for the reporting period.  At the end of the period, Hostess
Brands had total cash of $90.62 million.

A full-text copy of the monthly operating report is available at:

      http://bankrupt.com/misc/HOSTESSBRANDS_aug-septmor.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.


METRO FUEL: Lists $32,524 Net Loss at September 30
--------------------------------------------------
Metro Fuel Oil Corp., et al., on Oct. 21, 2013, filed their
monthly operating report for the month ended Sept. 30, 2013.

The Debtor posted a net loss of $32,524 for September.

As of Sept. 30, 2013, the Debtor had total assets of
$17.84 million, total liabilities of $74.28 million, and total
stockholders' deficit of $56.44 million.

At the beginning of September, Metro Fuel had a beginning book
cash balance of $17.56 million.  The Debtor had $74,092 cash
receipts and cash disbursements of $44,153.  As a result, at the
end of September, Metro Fuel had an ending book cash balance of
$17.59 million.

A full-text copy of the monthly operating report is available at:

           http://bankrupt.com/misc/METROFUEL_septmor.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.


MSD PERFORMANCE: Lists $23,424 Net Income in September
------------------------------------------------------
MSD Performance, Inc., and its affiliates, on Oct. 31, 2013, filed
a monthly operating report for September 2013.

The Debtors' consolidated statement of operations showed a net
income from continuing operations of $23,424 on $5.6 million of
net revenues for the month.

As of Sept. 5, 2013, the Debtors had $55.54 million in total
assets, $103.47 million in total liabilities, and a $47.93 million
total shareholders' deficit.

At September 6, the Debtors had a beginning book balance of
$3.81 million.  They had total receipts of $7.82 million and total
cash disbursements of $6.18 million for the entire month.  As a
result, the Debtors had $5.45 million cash at the end of the
month.

A copy of the monthly operating report is available at:

        http://bankrupt.com/misc/MSDPERFORMANCE_septmor.pdf

                     About MSD Performance

MSD Performance, Inc., headquartered in El Paso, Texas, operates
in the power sports enthusiast and professional racer markets
where the company maintains leading market share positions across
all of its product categories under the MSD Ignition(R),
Racepak(R) and Powerteq(R) brands.  The company's facilities
encompass over 220,000 square feet in six buildings, five of which
are located across the U.S. and one in Shanghai, China.

MSD Performance and its U.S. affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 13-12286) on Sept. 6,
2013.  Ron Turcotte signed the petitions as CEO.  The Debtors
estimated assets of at least $50 million and debts of at least
$100 million.

The Debtors' restructuring counsel is Jones Day.  Their investment
banker is SSG Advisors, LLC.  The Debtors are also represented by
Richards Layton and Finger, as local counsel.  Logan & Co. is the
claims and notice agent.

The Official Committee of Unsecured Creditors appointed in the
case retained Blank Rome LLP as counsel, and Carl Marks Advisory
Group LLC as financial advisors.


NIRVANIX INC: Files Initial Monthly Operating Report
----------------------------------------------------
Nirvanix, Inc., on Oct. 17, 2013, filed an initial monthly
operating report disclosing a cash flow projection for the 2-month
period from Oct. 1, 2013 through Nov. 30, 2013.

The Debtor forecasts $3.98 million in total cash receipts and
$2.35 million in total disbursemesnts for the 2-month period.

A copy of the Initial MOR and 2-mo. cash flow forecast is
available for free at http://bankrupt.com/misc/NIRVANIXINC_mor.pdf

                        About Nirvanix, Inc.

Cloud storage company Nirvanix, Inc., based in San Diego,
California, sought protection under Chapter 11 of the Bankruptcy
Code on Oct. 1, 2013 (Case No. 13-12595, Bankr. D.Del.).  The case
is assigned to Judge Brendan Linehan Shannon.

The Debtor is represented by Norman L. Pernick, Esq., Marion M.
Quirk, Esq., and Patrick J. Reilley, Esq., at COLE, SCHOTZ,
MEISEL, FORMAN & LEONARD, PA.  Cooley LLP serves as the Debtor's
special corporate counsel.  Arch & Beam Global LLC serves as the
Debtor's financial advisor.  Epiq Systems Inc. is the Debtor's
claims and noticing agent.

The Debtor disclosed estimated assets of $10 million to $50
million and estimated debts of $10 million to $50 million.

The petition was signed by Debra Chrapaty, CEO.


RAPID-AMERICAN CORP: Has $3.5 Million Cash Balance in September
---------------------------------------------------------------
Rapid-American Corporation, on Oct. 8, 2013, filed its monthly
operating report for the month ended September 2013.

As of start of the month, the company had $3.67 million cash.  It
spent $167,833 in expenses.  Thus, for the end of September, the
Company had total cash of $3.5 million.

A full-text copy of the monthly operating report is available at:

        http://bankrupt.com/misc/RAPIDAMERICAN_septmor.pdf

                  About Rapid-American Corp.

Rapid-American Corp. filed for Chapter 11 bankruptcy protection in
Manhattan (Bankr. S.D.N.Y. Case No. 13-10687) on March 8, 2013, to
deal with debt related to asbestos personal-injury claims.

New York-based Rapid-American was formerly a holding company with
subsidiaries primarily engaged in retail sales and consumer
products and was never engaged in an asbestos business of any
kind.  Through a series of merger transactions going back more
than 45 years, Rapid has nevertheless incurred successor liability
for personal injury claims arising from plaintiffs' exposure to
asbestos-containing products sold by The Philip Carey
Manufacturing Company -- Old Carey -- as that entity existed prior
to June 1, 1967.

Attorneys at Reed Smith LLP serve as counsel to the Debtor.

The Debtor disclosed assets in excess of $4,446,261 and unknown
liabilities.

The Official Committee of Unsecured Creditors retained Caplin &
Drysdale, Chartered, as counsel.

Young Conaway Stargatt & Taylor, LLP represents Lawrence
Fitzpatrick, the Future Claimants' Representative, as counsel.


SAVIENT PHARMACEUTICALS: PROJECTS $6.38MM in Receipts Thru January
------------------------------------------------------------------
Savient Pharmaceuticals, Inc., et al., filed with the U.S.
Securities and Exchange Commission an initial monthly operating
report.

The Initial MOR includes a cash flow projection for the 13-week
period covering the week ended Oct. 18, 2013 through the week
ended Jan. 10, 2014.

The Debtors project cash collections to total $6.38 million for
the 13-week period, and disbursements to total $7.67 million for
the same period.  The disbursements include $3.14 million in
payroll costs, $1.62 million in accounts payable-related expenses,
and $1.57 million in restructuring costs.

The Initial MOR also include a schedule of retainers paid to
professionals in 2013.  Among the Debtors' bankruptcy
professionals are Skadden Arps Slate Meagher & Flom LLP, Arnold &
Porter (UK) LLP, and Cole Schotz Meisel Forman & Leonard, P.A.

A copy of the Initial MOR is available at the SEC at:

                         http://is.gd/Jw8l8P

                    About Savient Pharmaceuticals

Headquartered in Bridgewater, New Jersey, Savient Pharmaceuticals,
Inc. -- http://www.savient.com/-- is a specialty
biopharmaceutical company focused on developing and
commercializing KRYSTEXXA(R) (pegloticase) for the treatment of
chronic gout in adult patients refractory to conventional therapy.
Savient has exclusively licensed worldwide rights to the
technology related to KRYSTEXXA and its uses from Duke University
and Mountain View Pharmaceuticals, Inc.

The Company and its affiliate, Savient Pharma Holdings, Inc.,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
D. Del. Case No. 13-12680) on Oct. 14, 2013.

The Debtors are represented by Kenneth S. Ziman, Esq., and David
M. Turetsky, Esq., at Skadden Arps Slate Meagher & Flom LLP, in
New York; and Anthony W. Clark, Esq., at Skadden Arps Slate
Meagher & Flom LLP, in Wilmington, Delaware.  Cole, Schotz,
Meisel, Forman & Leonard P.A., also serves as the Company's
conflicts counsel, and Lazard Freres & Co. LLC serves as its
financial advisor.

U.S. Bank National Association, as Indenture Trustee and
Collateral Agent, is represented by Clark T. Whitmore, Esq., at
Maslon Edelman Borman & Brand, LLP, in Minneapolis, Minnesota.

The Unofficial Committee of Senior Secured Noteholders is
represented by Andrew N. Rosenberg, Esq., Elizabeth McColm, Esq.,
and Jacob A. Adlerstein, Esq., at Paul, Weiss, Rifkind, Wharton &
Garrison LLP, in New York; and Pauline K. Morgan, Esq., at Young,
Conaway, Stargatt & Taylor LLP, in Wilmington, Delaware.


SPECIALTY PRODUCTS: Posts $1.18 Million Net Loss in September
-------------------------------------------------------------
Specialty Products Holding Corp., on Oct. 28, 2013, filed its
monthly operating report for September 2013.

The Debtor posted a net loss of $1.18 million for the month.

As of September 2013, the Debtor had total assets of
$429.36 million, total liabilities of $228.73 million, and total
stockholders' equity of $200.63 million.

At the beginning of August, the Debtor had $8.98 million in cash.
Specialty Products had total cash receipts of $36.78 million and
total cash disbursements of $33.53 million for the month.  As a
result, at the end of September, the Company had total cash of
$12.23 million.

A full-text copy of the monthly operating report is available at:

      http://bankrupt.com/misc/SPECIALTYPRODUCTS_septmor.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.


VERTIS HOLDINGS: Reports $883,288 Consolidated Sept. Net Loss
-------------------------------------------------------------
Vertis Holdings, Inc., et al., filed on Oct. 25, 2013, their
monthly operating report for September 2013.

The Debtors' consolidated statement of operations reported a
$883,288 net loss with zero operating revenues for the month.

As of September 30, the Debtors had $91.27 million in total
assets, $525.44 in total liabilities, and a $434.17 in total
shareholders' deficit.

At the beginning of the month, the Debtors had $12.99 million
cash.  The Debtors had total cash receipts of $371,147 and total
cash disbursements of $2.72 million, which include $522,403 in
professional fees.  Thus, at September 30, the Debtors had $10.65
million cash.

A copy of the monthly operating report is available for free at:

        http://bankrupt.com/misc/VERTIS_HOLDINGS_septmor.pdf

                      About Vertis Holdings

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.


* Cross-Border Insolvency & Chapter 11 Webinar Set for Dec. 10
--------------------------------------------------------------
Five restructuring professionals, including the Honorable Kevin J.
Carey, United States Bankruptcy Court, District of Delaware, will
define and discuss the complexity of cross-border insolvency and
Chapter 15 bankruptcy.  Joining Judge Carey will be:

   -- Thomas J. Salerno, Esq., Partner, Squire Sanders (US) LLP,
   -- Nava Hazan, Esq., Partner, Squire Sanders (US) LLP,
   -- Margot MacInnis, Managing Director, KRyS Global (Cayman Islands),
      and
   -- Michael Morrison, Partner, KPMG (Bermuda).

Ms. Hazan will lead a discussion on how Chapter 15 of the U.S.
Bankruptcy Code provides a mechanism for a company in a foreign
insolvency to seek injunctive relief against litigation in U.S.
courts or U.S. bankruptcy court assistance in the
administration and protection of its U.S. assets.

The panel will also address the topic of how Chapter 15 can be
used as a tool to bind creditors, including creditors in the
U.S., to the terms of a plan of reorganization approved by a
foreign court.

The event faculty will convene on Tuesday, December 10, 2013,
at 11:00 a.m., Eastern Time, to share their observations and
practice tips during a live 90-minute webinar.

Visit http://bankrupt.com/webinars/for more information and to  
register for the webinar.

                            *********

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
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equity securities trade in public market are determined by more
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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
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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
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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
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Villacampa, Sheryl Joy P. Olano, Ivy B. Magdadaro, Carlo
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Copyright 2013.  All rights reserved.  ISSN: 1520-9474.

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