TCR_Public/131221.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, December 21, 2013, Vol. 17, No. 353

                            Headlines

ATARI INC: Posts $442,000 Net Profit for November
ATLS ACQUISITION: Had $249.8MM in Disbursements for October
EXCEL MARITIME: Incurs $1.85 Million Net Loss for November
FIRST REGIONAL: Reports $55,346 Net Loss at Nov. 30
HIGHWAY TECHNOLOGIES: Net Loss Decreases to $128,773 in October

IBAHN CORP: Posts $164,791 Net Profit for September
LANDAUER HEALTHCARE: Reports Net Loss of $652,384 in October
LIGHTSQUARED INC: Lists $55.09 Million Net Loss in November
NATIONAL ENVELOP: Ends October with $1.56 Million Cash
ORECK CORP: Reports $816,271 Net Loss for November

OVERSEAS SHIPHOLDING: Ends October with $581.73 Million Cash
RAPID-AMERICAN CORP: Ends November with $5.65 Million Cash Balance
RG STEEL: Incurs $4.041 Million Net Loss in November
RURAL METRO: Ends October with $6.81 Million Net Loss
SOUND SHORE: Incurs $4.23 Million Net Loss in October


                            *********


ATARI INC: Posts $442,000 Net Profit for November
-------------------------------------------------
Atari, Inc., et al., on Dec. 13, 2013, filed their monthly
operating report for November 2013.

The Debtors' statement of operations showed a net profit of
$442,000 on $1.23 million in net revenue.

At Nov. 30, the Debtors reported $36.06 million in total assets,
$331.48 million in total liabilities, and a -($295.42 million)
total shareholders' deficit.

The Debtors had a beginning cash balance of $5.33 million for the
month.  They reported total receipts of $2.53 million and total
disbursements of $2.41 million.  For the month of November, the
Debtors paid $292,797 in professional fees.  As a result, at month
end, the Debtors had $5.46 million cash.

A copy of the monthly operating report is available at:

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

                             About Atari

Atari -- http://www.atari.com/-- is a multi-platform, global
interactive entertainment and licensing company.  Atari owns
and/or manages a portfolio of more than 200 games and franchises,
including world renowned brands like Asteroids(R), Centipede(R),
Missile Command(R), Pong(R), Test Drive(R), Backyard Sports(R),
and Rollercoaster Tycoon(R).

Atari Inc. and its U.S. affiliates filed for Chapter 11
bankruptcy (Bankr. S.D.N.Y. Lead Case No. 13-10176) on Jan. 21,
2013, to break away from their unprofitable French parent company
and secure independent capital.

A day after its American unit filed for Chapter 11 bankruptcy
protection, Paris-based Atari S.A. took a similar measure under
Book 6 of that country's commercial code.  Atari S.A. said it
was filing for legal protection because its longtime backer
BlueBay has sought to sell its 29% stake and demanded repayment
by March 31 on a credit line of US$28 million that it cut off in
December.

On Feb. 15, 2013, the Court entered the order authorizing the
employment and retention of Hunton & Williams LLP as counsel to
the Debtors.  On Feb. 5, 2013, the Debtors' board of directors
was reconstituted.  The reconstituted board of directors elected
to retain alternate bankruptcy counsel.  Hunton's retention as
the Debtors' counsel terminated on Feb. 6, 2013.

Ira S. Dizengoff, Esq., and Kristine G. Manoukian, Esq., at Akin
Gump Strauss Hauer & Feld LLP, in New York, N.Y.; and Scott L.
Alberino, Esq., at Akin Gump Strauss Hauer & Feld, LLP, in
Washington, D.C., represent the Debtors as counsel.

BMC Group is the claims and notice agent.  Guy Davis and Susan
Roski at Protiviti Inc. serve as financial advisors.

Duff & Phelps Securities LLC serves as financial advisor to the
Official Committee of Unsecured Creditors.  Cathy Hershcopf,
Esq., Jeffrey L. Cohen, Esq., and Robert B. Winning, Esq., at
Cooley LLP serve as the Committee's counsel.

Ken Coleman, Esq., and Jonathan Cho, Esq., at Allen & Overy LLP,
serve as counsel to Atari S.A.

Atari Inc. won bankruptcy court approval of its Plan of
Liquidation on Dec. 5, 2013.  The Plan provides a 25% recovery to
unsecured creditors.  Parent Atari SA will be contributing $3.42
million cash under the Plan and is waiving $310 million in claims.


ATLS ACQUISITION: Had $249.8MM in Disbursements for October
-----------------------------------------------------------
ATLS Acquisition, LLC, et al., on Dec. 5, 2013, filed their
monthly operating report for October 2013.

At the beginning of the month, the Debtors had $54.72 million
cash.  For the reporting period, they reported total receipts of
$22.95 million and total disbursements of $26.18 million.  As a
result, at month end, the Debtors had $51.55 million cash.

The monthly operating report did not contain a balance sheet and
statement of operations.

A copy of the monthly operating report is available at:

         http://bankrupt.com/misc/ATLSACQUISITIONoctmor.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.


EXCEL MARITIME: Incurs $1.85 Million Net Loss for November
----------------------------------------------------------
Excel Maritime Carriers Ltd., and its affiliates, on Dec. 13,
2013, filed their monthly operating report for November 2013.

The Debtors' statement of operations showed a net loss of $1.85
million on $17.14 million in revenues for November.

At November 30, the Debtors reported $942.99 million in total
assets, $958.98 million in total liabilities, and a -($15.99
million) total shareholders' deficit.

The Debtors had a beginning cash balance of $26.12 million for
November.  They reported total receipts of $26.06 million and
total disbursements of $20.37 million.  As a result, at the end of
November, the Debtors had $31.81 million cash.

A copy of the monthly operating report is available at:

          http://bankrupt.com/misc/EXCELMARITIMEnovmor.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. 13-23060) 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.  The Debtor
disclosed $35,642,525 in assets and $1,034,314,519 in liabilities
as of the Chapter 11 filing.

Excel, which sought bankruptcy with a number of affiliates, has
tapped Jay M. Goffman, Esq., Mark A. McDermott, Esq., Shana E.
Elberg, Esq., and Suzanne D.T. Lovett, Esq,. at 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.  Jefferies LLC serves as the
Committee's investment banker.

John J. Monaghan, Esq. -- john.monaghan@hklaw.com -- at Holland &
Knight LLP, serves as counsel to the Steering Committee.

Roberston Maritime Investors LLC is represented by Hugh Ray, Esq.,
at McKool Smith.  Oaktree Capital Management and certain of its
affiliates are represented by Alan W. Kornberg, Esq., and
Elizabeth R. McColm, Esq. -- akornberg@paulweiss.com and
emccolm@paulweiss.com -- at Paul Weiss Rifkind Wharton & Garrison
LLP.


FIRST REGIONAL: Reports $55,346 Net Loss at Nov. 30
---------------------------------------------------
First Regional Bancorp filed with the U.S. Securities and Exchange
Commission their monthly operating report for the month ended
November 30, 2013.

The Debtor reported a net loss of $55,346 on zero revenue for the
month.

At October 31, the Debtor reported $609,679 in total assets,
$97.64 million in total liabilities, and -($97.03 million) total
shareholders' equity.

The Debtor had a beginning cash balance of $248,025 for November.
It reported zero receipts and total disbursements of $13,346.
Thus, at month end, the Debtor had $234,679.

A copy of the monthly operating report is available at the SEC at:

                         http://is.gd/N7YQz2

                     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.


HIGHWAY TECHNOLOGIES: Net Loss Decreases to $128,773 in October
---------------------------------------------------------------
Highway Technologies, Inc., et al, filed on Dec. 10, 2013, their
monthly operating report for October 2013.

Highway Technologies reported $128,773 in net losses on zero
revenues for October, compared to an $889,112 net loss for the
previous month.

At October 31, the Debtors posted $10.51 million in total assets,
$93.66 million in total liabilities, and a -($83.15 million) total
shareholders' deficit.

At the beginning of the month, the Debtors had a cash balance of
$787,259.  They reported total receipts of $1.18 million and total
disbursements of $283,977.  The Debtors paid $115,000 in
professional fees.  As a result, at the end of October, the
Debtors had $1.68 million cash.

A copy of the monthly operating report is available at:

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

                     About Highway Technologies

Highway Technologies Inc. and affiliate HTS Acquisition Inc.
sought Chapter 11 protection (Bankr. D. Del. Case Nos. 13-11325 to
13-11326) on May 22, 2013, to conduct an orderly liquidation.

Richard M. Pachuiski, Esq., Debra I. Grassgreen, Esq., Bruce
Grohsgal, Esq., Maria A. Bove, Esq., and John W. Lucas, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as counsel to the
Debtors.  Kurtzman Carson Consultants LLC is the claims and notice
agent.

The prepetition lenders are represented by David M. Hilllman,
Esq., at Schulte Roth & Zabel, in New York.

The Company's balance sheet as of March 31, 2013, showed
$55 million in total assets and $102 million in liabilities.  In
its amended schedules, Highway Technologies disclosed $41,350,616
in assets and $91,780,181 in liabilities.

Mark D. Collins, Esq., at Richards, Layton & Finger, P.A.
represents the Official Unsecured Creditors' Committee as counsel.
Gavin/Solmonese LLC serves as its financial advisor.

The Debtors have asked the Court to convert their cases into
Chapter 7 proceedings.  An Oct. 16 hearing has been set for the
matter.


IBAHN CORP: Posts $164,791 Net Profit for September
---------------------------------------------------
iBahn Corporation, et al., on Oct. 25, 2013, filed its monthly
operating report for September 2013.

The Debtors reported a net income of $164,791 on net revenues of
$2.82 million.

At September 30, the Debtors reported $131.14 million in total
assets, $25.13 million in total liabilities, and a $106.02 million
total shareholders' equity.

At the beginning of the month, the Debtors had a cash balance of
$810,000. They had total receipts of $3.01 million and total
disbursements of $1.79 million. At the end of the month, the
Debtors had $2.02 million cash.

A copy of the monthly operating report is available at:

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

                          About iBahn Corp.

Salt Lake City, Utah-based IBahn Corp., a provider of Internet
services to hotels, sought bankruptcy protection (Bankr. D. Del.
Case No. 13-12285), citing a loss of contracts with largest
customer Marriott International Inc. and patent litigation costs.
IBahn Chief Financial Officer Ryan Jonson said the company had
assets of $13.6 million and it listed liabilities of as much as
$50 million in the Chapter 11 filing on Sept. 6, 2013.  The
petitions were signed by Ryan Jonson as chief financial officer.
Judge Peter J. Walsh presides over the case.

Pachulski Stang, Ziehl Young & Jones, LLP, serves as the Debtors'
counsel.  The Debtors' claims and noticing agent is Epiq
Bankruptcy Solutions.


LANDAUER HEALTHCARE: Reports Net Loss of $652,384 in October
------------------------------------------------------------
Landauer Healthcare Holdings, Inc., et al., on Dec. 2, 2013, filed
their monthly operating report for October 2013.

The Debtors' consolidated income statement showed a net loss of
$652,384 on total net revenues of $7.12 million.

At October 31, the Debtors reported $65.44 million in total
assets, $49.89 million in total liabilities, and a $15.55 million
total shareholders' equity.

At the beginning of the month, the Debtors had a cash balance of
$3.44 million. They had total receipts of $18.74 million and total
disbursements of $18.89 million.  As a result, at October 31, the
Debtors had $3.28 million cash.

A copy of the monthly operating report is available at:

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

                      About Landauer Healthcare

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 disclosed $2,978,495 in assets and $53,636,751 in
liabilities as of the Chapter 11 filing.

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.  Maillie LLP serves as the
Debtors' tax accountants.

The Debtor filed a Chapter 11 restructuring plan that would
transfer ownership of the home medical supply company to Quadrant
Management Inc., whose $22 million bid for the company went
unchallenged.

Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed
five members to the official committee of unsecured creditors in
the Chapter 11 cases.  The Committee retained Landis Rath & Cobb
LLP as counsel.  Deloitte Financial Advisory Services LLP serves
as its financial advisor.


LIGHTSQUARED INC: Lists $55.09 Million Net Loss in November
-----------------------------------------------------------
LightSquared Inc., et al., filed on December 16, 2013, a monthly
operating report for the month ended November 30, 2013.

The Company reported a net loss of $55.09 million on net revenue
of $1.41 million for November.

As of November 30, 2013, the Company had total assets of $3.7
billion, total liabilities of $2.91 billion, and total
stockholders' equity of $791.4 million.

At the beginning of the month, LightSquared had $64.76 million in
cash.  The Company had total cash receipts of $2.15 million and
total cash disbursements of $19.47 million.  As a result, at the
end of November, the Company had total cash of $47.44 million.

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

                       http://is.gd/lOjH3c

                      About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.


NATIONAL ENVELOP: Ends October with $1.56 Million Cash
------------------------------------------------------
NE Opco, Inc., dba National Envelope, and its debtor affiliates,
on Dec. 6, 2013, filed their monthly operating report for October
2013.

The Debtors' consolidated statement of income showed net loss of
$100,000 on zero revenues.

At Oct. 31, the Debtors reported $6.74 million in total assets,
$141.56 million in total liabilities, and a -($134.82 million)
total shareholders' deficit.

At the beginning of the month, the Debtors had a cash balance of
$2.72 million. They had total disbursements $1.16 million. At the
end of the month, the Debtors had $1.56 million cash.

A copy of the monthly operating report is available at:

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

                         About NE OPCO, Inc.

National Envelope is the largest privately-held manufacturer of
envelopes in North America.  Headquartered in Frisco, Texas,
National Envelope has eight plants and 15 percent of the envelope
market.  Revenue of $427 million in 2012 resulted in a $60.1
million net loss, continuing an unbroken string of losses since
2007.

NE OPCO, Inc., doing business as National Envelope, along with
affiliate NEV Credit Holdings, Inc., filed petitions seeking
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Lead Case No. 13-11483) on June 10, 2013.

The company disclosed liabilities including $148.4 million in
secured debt, with $37.5 million owing on a revolving credit and
$15.6 million on a secured term loan.  There is a $55.7 million
second-lien debt 82 percent held by a Gores Group LLC affiliate.

National Envelope, then known as NEC Holdings Corp., first sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 10-11890) on
June 10, 2010.  The business was bought by Gores Group LLC for
$208 million in a bankruptcy sale.

National Envelope, through NE OPCO, has returned to bankruptcy to
pursue a plan of reorganization or sell the assets as a going
concern via 11 U.S.C. Sec. 363.  The Debtor plans to facilitate a
sale of the business with publicly traded competitor Cenveo Inc.

In the new Chapter 11 case, the company has tapped the law firm
Richards, Layton & Finger as counsel, PricewaterhouseCoopers LLP
as financial adviser, and Epiq Bankruptcy Solutions as claims and
notice agent.

The Gores Group is represented by Weil, Gotshal and Manges LLP and
Lowenstein Landler LLP.  Salus Capital Partners, the DIP agent, is
represented by Choate, Hall & Stewart LLP and Morris Nichols Arsht
& Tunnell LLP.   Wells Fargo Capital Finance, LLC, the prepetition
senior agent, is represented by Goldberg Kohn Ltd and DLA Piper.

The Official Committee of Unsecured Creditors is represented by
Pachulski Stang Ziehl & Jones LLP's Laura Davis Jones, Esq.,
Bradford J. Sandier, Esq., Robert J. Feinstein, Esq., and Peter J.
Keane, Esq.  Guggenheim Securities, LLC, serves as its investment
banker and financial advisor.

National Envelope won court approval on July 19, 2013, for a
global settlement permitting a sale of the company without
objection from the official unsecured creditors' committee.  The
settlement ensures some recovery for unsecured creditors.  The
Company also won final approval for $67.5 million in
bankruptcy financing being supplied by Salus Capital Partners LLC.

Judge Sontchi authorized three buyers to acquire Frisco, Texas-
based National Envelope's business for a total of about $70
million.  Connecticut-based printer Cenveo Inc. acquired National
Envelope's operating assets for $25 million, Hilco Receivables LLC
picked up accounts receivable for $25 million and Southern Paper
LLC took on its inventory for $15 million.


ORECK CORP: Reports $816,271 Net Loss for November
--------------------------------------------------
Oreck Corporation, and its affiliates, on Dec. 6, 2013, filed its
monthly operating report for the month ended November 30, 2013.

Oreck Corp. reported a net loss of $816,271 on -($202,854) in net
sales for the month.

At November 30, Oreck Corp. reported $7.92 million in total
assets, $3.56 million in total liabilities, and a $4.36 million
total shareholders' equity.

At the beginning of the month, the Debtors had a cash balance of
$3.70 million.  They reported total receipts of $2.22 million and
total disbursements of $1.27 million.  As a result, at the end of
November, the Debtors had $4.65 million cash.

A copy of the monthly operating report is available at:

            http://bankrupt.com/misc/ORECKCORPnovmor.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: Ends October with $581.73 Million Cash
------------------------------------------------------------
Overseas Shipholding Group, Inc., et al., filed with the U.S.
Securities and Exchange Commission their monthly operating report
for October 2013.

The Debtors' consolidated statement of income showed a net loss of
$1.85 million on shipping revenues of $88.72 million.

At October 31, the Debtors reported $4 billion in total assets,
$3.63 billion in total liabilities, and $845 million total
shareholders' equity.

The Debtors had a beginning cash balance of $570.63 million at
Oct. 1.  They had total receipts of $86.23 million and total
disbursements of $75.13 million for the reporting period.  Among
other things, the Debtors paid $2.7 million in professional fees
and expenses for the month.  As a result, at month end, the
Debtors had $581.73 million.

A copy of the monthly operating report is available at the SEC at:

                         http://is.gd/s6G9i1

                      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.


RAPID-AMERICAN CORP: Ends November with $5.65 Million Cash Balance
------------------------------------------------------------------
Rapid-American Corporation, on Dec. 9, 2013, filed its monthly
operating report for November 2013.

At the beginning of the month, the Debtor declared $3.25 million
in cash. It earned income totaling $2.5 million and spent a total
of $107,754 in expenses for the reporting period. Thus, at the end
of November, the Debtor had $5.65 million cash.

Among the Debtor's expenses for the reporting period were $71,254
in professional fees to Reed Smith LLP, Denton US LLP, and Caplin
& Drysdale, among others.

A copy of the monthly operating report is available at:

          http://bankrupt.com/misc/RAPIDAMERICANnovmor.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.


RG STEEL: Incurs $4.041 Million Net Loss in November
----------------------------------------------------
WP Steel Ventures, LLC, et al., on December 18, 2013, filed their
monthly operating report for the month ended November 30, 2013.

The Company posted a net loss of $4.041 million for November on
zero revenues.

As of November 30, 2013, the Company had total assets of $246.795
million, total liabilities of $1.216 billion, and total
stockholders' deficit of -($969.061 million).

For the month of November, the Company had total cash receipts of
$1.178 million and total disbursements of $474,000.

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

                       http://is.gd/zWRGAc

                         About RG Steel

RG Steel LLC -- http://www.rg-steel.com/-- is the United States'
fourth-largest flat-rolled steel producer with annual steelmaking
capacity of 7.5 million tons.  It was formed in March 2011
following the purchase of three steel facilities located in
Sparrows Point, Maryland; Wheeling, West Virginia and Warren,
Ohio, from entities related to Severstal US Holdings LLC.  RG
Steel also owns finishing facilities in Yorkville and Martins
Ferry, Ohio.  It also owned Wheeling Corrugating Company and has a
50% ownership in Mountain State Carbon and Ohio Coatings Company.

RG Steel along with affiliates, including WP Steel Venture LLC,
sought bankruptcy protection (Bankr. D. Del. Lead Case No. 12-
11661) on May 31, 2012.  Bankruptcy was precipitated by liquidity
shortfall and a dispute with Mountain State Carbon, LLC, and a
Severstal affiliate, that restricted the shipment of coke used in
the steel production process.

The Debtors estimated assets and debts in excess of $1 billion.
As of the bankruptcy filing, the Debtors owe (i) $440 million,
including $16.9 million in outstanding letters of credit, to
senior lenders led by Wells Fargo Capital Finance, LLC, as
administrative agent, (ii) $218.7 million to junior lenders, led
by Cerberus Business Finance, LLC, as agent, (iii) $130.5 million
on account of a subordinated promissory note issued by majority
owner The Renco Group, Inc., and (iv) $100 million on a secured
promissory note issued by Severstal.

Judge Kevin J. Carey presides over the case.

The Debtors are represented in the case by Robert J. Dehney, Esq.,
and Erin R. Fay, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
and Matthew A. Feldman, Esq., Shaunna D. Jones, Esq., Weston T.
Eguchi, Esq., at Willkie Farr & Gallagher LLP, represent the
Debtors.  Conway MacKenzie, Inc., serves as the Debtors' financial
advisor and The Seaport Group serves as lead investment banker.
Donald MacKenzie of Conway MacKenzie, Inc., as CRO.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

Wells Fargo Capital Finance LLC, as Administrative Agent, is
represented by Jonathan N. Helfat, Esq., and Daniel F. Fiorillo,
Esq., at Otterbourg, Steindler, Houston & Rosen, P.C.; and Laura
Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachuiski Stang
Ziehi & Jones LLP.

Renco Group is represented by lawyers at Cadwalader, Wickersham &
Taft LLP.

Kramer Levin Naftalis & Frankel LLP represents the Official
Committee of Unsecured Creditors.  Huron Consulting Services LLC
serves as the Committee's financial advisor.

The Debtor has sold off the principal plants.  The sale of the
Wheeling Corrugating division to Nucor Corp. brought in $7
million.  That plant in Sparrows Point, Maryland, fetched the
highest price, $72.5 million.  CJ Betters Enterprises Inc. paid
$16 million for the Ohio plant.


RURAL METRO: Ends October with $6.81 Million Net Loss
-----------------------------------------------------
Rural Metro Corporation, and its affiliates, on Dec. 13, 2013,
filed their monthly operating report for October 2013.

The Debtors' statement of operations showed a net loss of $6.81
million on $53.33 million in net revenues for October.

At November 30, the Debtors reported $966.04 million in total
assets, $944.68 million in total liabilities, and a $21.35 million
total shareholders' equity.

At the beginning of the month, the Debtors had $68.54 million in
cash.  They reported total receipts from operating and financing
activities of $3.85 million and total disbursements from investing
activities of $2.92 million.  As a result, at month end, the
Debtors had $69.47 million cash.

A copy of the monthly operating report is available at:

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

                   About Rural/Metro Corporation

Headquartered in Scottsdale, Arizona, Rural/Metro Corporation --
http://www.ruralmetro.com-- is a national provider of 911-
emergency and non-emergency interfacility ambulance services and
private fire protection services, operating in 21 states and
nearly 700 communities.

Rural/Metro Corp. and 59 affiliates sought Chapter 11 protection
on Aug. 4, 2013, before the U.S. Bankruptcy Court for the District
of Delaware.

The Debtors' lead bankruptcy counsel are Matthew A. Feldman, Esq.,
Rachel C. Strickland, Esq., and Daniel Forman, Esq., at Willkie
Farr & Gallagher LLP, in New York.  Maris J. Kandestin, Esq., and
Edmon L. Morton, Esq., at Young, Conaway, Stargatt & Taylor, LLP,
in Wilmington, Delaware, serve as the Debtors' local Delaware
counsel.

Alvarez & Marsal Healthcare Industry Group, LLC, and FTI
Consulting, Inc., are the Debtors' financial advisors, while
Lazard Freres & Co. L.L.C. is their investment banker.  Donlin,
Recano & Company, Inc., is the Debtors' claims and noticing agent.

The U.S. Trustee has appointed a three-member official committee
of unsecured creditors in the Chapter 11 case.


SOUND SHORE: Incurs $4.23 Million Net Loss in October
-----------------------------------------------------
Sound Shore Medical Center of Westchester and its affiliates, on
Nov. 25, 2013, filed their monthly operating report for October
2013.

The Debtors incurred $22.48 million in total operating expenses on
$18.01 million of total operating revenue for the month of
October.

At October 31, the Debtors reported $126.53 million in total
assets, $222.40 million in total liabilities, and a -($95.87
million) total shareholders' deficit.

A copy of the monthly operating report is available at:

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

           About Sound Shore Medical Center of Westchester

Sound Shore Medical Center of Westchester, Mount Vernon Hospital
Inc., Howe Avenue Nursing Home and related entities sought
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 13-22840) on
May 29, 2013, in White Plains, New York.

The Debtors are the largest "safety net" providers for Southern
Westchester County in New York.  Affiliated with New York Medical
College, Sound Shore is a not-for-profit 242-bed, community based-
teaching hospital located in New Rochelle, New York.  Mountain
Vernon Hospital is a voluntary, not-for-profit 176-bed hospital
located in Mount Vernon, New York.  Howe Avenue Nursing Home is a
150-bed, comprehensive facility.

The Debtors tapped Burton S. Weston, Esq., at Garfunkel Wild, P.C.
as counsel; Alvarez & Marsal Healthcare Industry Group, LLC, as
financial advisors; and GCG Inc., as claims agent.

The Debtors are seeking to sell their assets to the Montefiore
health system.  In June 2013, Montefiore added $4.75 million to
its purchase offer for Sound Shore Medical Center and Mount Vernon
Hospital to speed up the sale.  Montefiore raised its bid to
$58.75 million plus furniture and equipment as part of a request
for a private sale of the bankrupt New Rochelle and Mount Vernon
hospitals, which the Bronx-based health system would like to buy
by August 2.  Montefiore is represented by Togut, Segal & Segal
LLP.

Alston & Bird LLP represents the Official Committee of Unsecured
Creditors.  Deloitte Financial Advisory Services LLP serves as its
as financial advisor.

Sound Shore disclosed assets of $159.6 million and liabilities
totaling $200 million.  Liabilities include a $16.2 million
revolving credit and a $5.8 million term loan with Midcap
Financial LLC.  There is $9 million in mortgages with Sun Life
Assurance Co. of Canada (US) and $11.5 million owing to the New
York State Dormitory Authority.

Neubert, Pepe & Monteith, P.C., represents Daniel T. McMurray, the
patient care ombudsman for Sound Shore.

                             *********

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.

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