/raid1/www/Hosts/bankrupt/TCR_Public/070922.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 22, 2007, Vol. 11, No. 225

                             Headlines

ADVA-LITE INC: Files Operating Report for May 2007
ADVA-LITE INC: Files Operating Report for June 2007
ADVA-LITE INC: Files Operating Report for July 2007
ALL AMERICAN: Incurs $45.4 Mil. Net Loss in Month Ended June 30
FIRST MAGNUS: Files Schedules of Assets and Liabilities

INTERSTATE BAKERIES: Posts $3.6MM Net Loss in Month Ended July 28
SAINT VINCENT: Earns $11,804,835 in July 2007
VESTA INSURANCE: Florida Select Files August 2007 Operating Report
VESTA INSURANCE: Gordon Gaines Files August 2007 Operating Report

                             *********

ADVA-LITE INC: Files Operating Report for May 2007
--------------------------------------------------
Adva-Lite Inc. and its debtor-affiliates filed with the U.S.
Bankruptcy Court for the District of Delaware their monthly
operating report for the period April 25, 2007, through May 31,
2007, disclosing:

   -- total cash receipts of $1,830,000;

   -- total non-operating cash disbursements of $115,249; and

   -- total net cash flow of $1,714,751.

Total cash received for the reporting period includes 760,000 for
the sale of the Debtors' assets and $1,070,000 for a carve-out of
professional fees.

A full-text copy of Adva-Lite's May 2007 Monthly Operating Report
is available for free at http://ResearchArchives.com/t/s?2387

The Debtors' total net cash flow accumulated from the bankruptcy
filing through June 30, 2007, was $3,724,776, resulting from total
cash receipts of $11,644,348 less total cash disbursements of
$7,919,572.  Accumulative revenues from the bankruptcy filing
through May 31, 2007, were $12,329,452.

Effective April 25, 2007, the Debtors sold all operating assets
and suspended operations.  The Debtors are winding down operations
and have no operating activity.  The Debtors currently have no
employees and their only asset is cash held in an approved debtor-
in-possession account.  As such, the Debtors terminated their
existing insurance coverages effective April 26, 2007, with the
exception of the directors and officers policy extended until
Nov. 15, 2007.

                       About Adva-Lite Inc.

Headquartered in Largo, Fla., Adva-Lite Inc., together with
Corvest Promotional Products Inc., and four other affiliates,
sought chapter 11 protection on Feb. 28, 2007 (Bankr. D. Del.
Lead Case No. 07-10264).  The four affiliates filing separate
chapter 11 petitions are Toppers LLC, CGI Inc., It's All Greek To
Me Inc., and Corvest Group Inc.

Adva-Lite, It's All Greek, and Toppers are subsidiaries of Corvest
Promotional.  Adva-Lite manufactures and markets personal lighting
gizmos, writing instruments, beverageware, and tools.  It's All
Greek provides custom plush products.  Toppers offers sports bags,
totes, luggage, caps, and other business accessories.

Paul S. Singerman, Esq., and Jordi Guso, Esq., at Berger
Singerman, P.A., represent the Debtors.  Michael R. Nestor, Esq.,
Kara Hammond Coyle, Esq., at Young Conaway Stargatt & Taylor, LLP,
is the Debtors co-counsel.  Houlihan Lokey Howard & Zukin Capital,
Inc. serve as financial advisor and investment banker to the
Debtors.  Lowenstein Sandler PC represent the Official Committee
of Unsecured Creditors while Reed Smith LLP is the Committee's
Delaware counsel.  Mahoney Cohen & Company, CPA P.C. is the
financial advisor to the Committee.  In amended schedules filed
with the Court, Adva-Lite disclosed total assets of $7,033,526 and
total debts of $48,897,227.


ADVA-LITE INC: Files Operating Report for June 2007
---------------------------------------------------
Adva-Lite Inc. and its debtor-affiliates filed with the U.S.
Bankruptcy Court for the District of Delaware their monthly
operating report for the period ended June 30, 2007, disclosing:

   -- total cash receipts of $113;

   -- total non-operating cash disbursements of $339,677;

   -- total operating cash disbursements of $7,500;

   -- total cash disbursements of $347,177; and

   -- total negative cash flow, net, of $339,564.

A full-text copy of Adva-Lite's June 2007 Monthly Operating Report
is available for free at http://ResearchArchives.com/t/s?2389

The Debtors' total net cash flow accumulated from the bankruptcy
filing through June 30, 2007, was $3,377,700, resulting from total
cash receipts of $11,644,461 less total cash disbursements of
$8,266,761.  Accumulative revenues from the bankruptcy filing
through June 30, 2007, were $12,329,452.

Effective April 25, 2007, the Debtors sold all operating assets
and suspended operations.  The Debtors are winding down operations
and have no operating activity.  The Debtors currently have no
employees and their only asset is cash held in an approved debtor-
in-possession account.  As such, the Debtors terminated their
existing insurance coverages effective April 26, 2007, with the
exception of the directors and officers policy extended until
Nov. 15, 2007.

                       About Adva-Lite Inc.

Headquartered in Largo, Fla., Adva-Lite Inc., together with
Corvest Promotional Products Inc., and four other affiliates,
sought chapter 11 protection on Feb. 28, 2007 (Bankr. D. Del.
Lead Case No. 07-10264).  The four affiliates filing separate
chapter 11 petitions are Toppers LLC, CGI Inc., It's All Greek To
Me Inc., and Corvest Group Inc.

Adva-Lite, It's All Greek, and Toppers are subsidiaries of Corvest
Promotional.  Adva-Lite manufactures and markets personal lighting
gizmos, writing instruments, beverageware, and tools.  It's All
Greek provides custom plush products.  Toppers offers sports bags,
totes, luggage, caps, and other business accessories.

Paul S. Singerman, Esq., and Jordi Guso, Esq., at Berger
Singerman, P.A., represent the Debtors.  Michael R. Nestor, Esq.,
Kara Hammond Coyle, Esq., at Young Conaway Stargatt & Taylor, LLP,
is the Debtors co-counsel.  Houlihan Lokey Howard & Zukin Capital,
Inc. serve as financial advisor and investment banker to the
Debtors.  Lowenstein Sandler PC represent the Official Committee
of Unsecured Creditors while Reed Smith LLP is the Committee's
Delaware counsel.  Mahoney Cohen & Company, CPA P.C. is the
financial advisor to the Committee.  In amended schedules filed
with the Court, Adva-Lite disclosed total assets of $7,033,526 and
total debts of $48,897,227.


ADVA-LITE INC: Files Operating Report for July 2007
---------------------------------------------------
Adva-Lite Inc. and its debtor-affiliates filed with the U.S.
Bankruptcy Court for the District of Delaware their monthly
operating report for the period ended July 31, 2007, disclosing:

   -- total cash receipts of $2,489;

   -- total non-operating cash disbursements of $406,561; and

   -- total negative cash flow, net, of $404,071.

A full-text copy of Adva-Lite's July 2007 Monthly Operating Report
is available for free at http://ResearchArchives.com/t/s?238a

The Debtors' total net cash flow accumulated from the bankruptcy
filing through July 31, 2007, was $2,973,628, resulting from total
cash receipts of $11,646,950 less total cash disbursements of
$8,673,322.  Accumulative revenues from the bankruptcy filing
through July 31, 2007, were $12,329,452.

Effective April 25, 2007, the Debtors sold all operating assets
and suspended operations.  The Debtors are winding down operations
and have no operating activity.  The Debtors currently have no
employees and their only asset is cash held in an approved debtor-
in-possession account.  As such, the Debtors terminated their
existing insurance coverages effective April 26, 2007, with the
exception of the directors and officers policy extended until
Nov. 15, 2007.

                       About Adva-Lite Inc.

Headquartered in Largo, Fla., Adva-Lite Inc., together with
Corvest Promotional Products Inc., and four other affiliates,
sought chapter 11 protection on Feb. 28, 2007 (Bankr. D. Del.
Lead Case No. 07-10264).  The four affiliates filing separate
chapter 11 petitions are Toppers LLC, CGI Inc., It's All Greek To
Me Inc., and Corvest Group Inc.

Adva-Lite, It's All Greek, and Toppers are subsidiaries of Corvest
Promotional.  Adva-Lite manufactures and markets personal lighting
gizmos, writing instruments, beverageware, and tools.  It's All
Greek provides custom plush products.  Toppers offers sports bags,
totes, luggage, caps, and other business accessories.

Paul S. Singerman, Esq., and Jordi Guso, Esq., at Berger
Singerman, P.A., represent the Debtors.  Michael R. Nestor, Esq.,
Kara Hammond Coyle, Esq., at Young Conaway Stargatt & Taylor, LLP,
is the Debtors co-counsel.  Houlihan Lokey Howard & Zukin Capital,
Inc. serve as financial advisor and investment banker to the
Debtors.  Lowenstein Sandler PC represent the Official Committee
of Unsecured Creditors while Reed Smith LLP is the Committee's
Delaware counsel.  Mahoney Cohen & Company, CPA P.C. is the
financial advisor to the Committee.  In amended schedules filed
with the Court, Adva-Lite disclosed total assets of $7,033,526 and
total debts of $48,897,227.


ALL AMERICAN: Incurs $45.4 Mil. Net Loss in Month Ended June 30
---------------------------------------------------------------
All American Semiconductor Inc. and its debtor-affiliates
submitted to the U.S. Bankruptcy Court for the Southern District
of Florida their operating report for the month ended June 30,
2007, with net sales of $283,000 and a net loss of $45,444,000.

As of June 30, 2007, the company posted total assets of
$4,071,000, consisting solely of cash; total liabilities of
$18,348,000; and total stockholders' deficit of $14,277,000.

The Debtors' total liabilities consist of $8,526,000 DIP Loan,
$9,567,000 pre-petition line of credit, $72,000 accounts payable,
and $183,000 accrued expenses.

A full-text copy of All American's June 2007 Operating Report is
available for free at http://ResearchArchives.com/t/s?238d

Based in Miami, Florida, All American Semiconductor Inc. (Pink
Sheets: SEMI.PK) -- http://www.allamerican.com/-- distributes   
electronic components manufactured by others.  The company
distributes a full range of semiconductors including transistors,
diodes, memory devices, microprocessors, microcontrollers, other
integrated circuits, active matrix displays and various board-
level products.  All American also distributes passive components
such as capacitors, resistors and inductors; and electromechanical
products such as power supplies, cable, switches, connectors,
filters and sockets.  The company also offers complete solutions
for flat panel display products.

In total, the company offers approximately 40,000 products
produced by approximately 60 manufacturers.  The company has 36
strategic locations throughout North America and Mexico, as well
as operations in China and Western Europe.

The company and its debtor-affiliates filed for Chapter 11
protection on April 25, 2007 (Bankr. S.D. Fla. Lead Case No.
07-12963).  Craig D. Hansen, Esq., Tina M. Talarchyk, Esq., and
Stephen D. Lerner, Esq., at Squire, Sanders & Dempsey L.L.P.,
represent the Debtors.  Mesirow Financial Consulting, LLC serve as
financial advisor to the Committee.  William Hawkins, Esq., at
Loeb & Loeb, LLP, is the Official Committee of Unsecured Creditors
general bankruptcy counsel.  Jerry M. Markowitz, Esq., at
Markowitz, Davis, Ringel & Trusty, P.A., is the Committee's local
counsel.  As of Feb. 28, 2007, the Debtors' balance sheet showed
total assets of $117,634,000 and total debts of $106,024,000.


FIRST MAGNUS: Files Schedules of Assets and Liabilities
-------------------------------------------------------
First Magnus Financial Corporation submitted to the U.S.
Bankruptcy Court for the District of Arizona its schedules of
assets and liabilities, disclosing:

A.    Real Property
        Pima County, Arizona                            $930,000
        Various foreclosed real estate                 7,466,000

B.    Personal Property
B.1   Cash on Hand                                             0
B.2   Financial Accounts                               3,800,000
B.3   Security Deposits                                1,125,229
B.4   Household Goods and Furnishings                          0
B.5   Books, pictures & other art objects                Unknown
B.6   Wearing apparel                                          0
B.7   Furs and jewelry                                         0
B.8   Firearms, sports & other hobby equipment                 0
B.9   Interests in insurance policies                          0
B.10  Annuities                                                0
B.11  Interests in education IRA                               0
B.12  Interest in pension, profit sharing plan                 0
B.13  Stock & Interests                                        0
B.14  Investments in subsidiaries & others             3,208,130
B.15  Gov't. & corporate bonds, etc.                           0
B.16  Accounts Receivable
        Balance of mortgage loans
          receivable from borrowers                1,684,160,339
        Balance of loans owned by Debtor              40,942,674
        Interest/fees receivable on loans             90,859,044
        Receivable from related party                    998,287
        Receivable due from other entities               212,479
B.17  Alimony & property settlements                           0
B.18  Liquidated debts owed to debtor                          0
B.19  Other equitable interests                                0
B.20  Investment in deferred compensation                643,508
B.21  Derivative asset                                 2,491,739
B.22  Intellectual property                                    0
B.23  Naming rights to theatre                           596,000
B.24  Borrower & applicant list                          Unknown
B.25  Vehicles & accessories                                   0
B.26  Boats, motors & accessories                              0
B.27  Aircraft & accessories                                   0
B.28  Office equipment, furnishings, supplies
        Various furniture & fixtures                  27,667,539
        Loan Tracker Software                                  0
B.29  Machinery, supplies, equipment, supplies                 0
B.30  Inventory                                                0
B.31  Animals                                                  0
B.32  Crops                                                    0
B.33  Farming equipment & implements                           0
B.34  Farm supplies, chemicals & feed                          0
B.35  Other personal property                          4,596,671

      TOTAL SCHEDULED ASSETS                      $1,869,697,639
      ==========================================================

C.    Property Claimed as Exempt                  Not applicable

D.    Creditors Holding Secured Claims
        UBS Real Estate Securities Inc.              197,753,315
        Merill Lynch Bank USA                         42,313,002
        Washington Mutual Bank – Syndicated
          Repurchase Line                            192,316,475   
        Washington Mutual Bank – Flex Line            53,786,749
        Washington Mutual Bank – Commercial
          Paper Conduit                            1,030,696,041
        Countrywide Warehouse Lending &
          Countrywide Home Loans, Inc.                45,215,383   
        Chase Equipment Leasing, Inc.                  2,878,921    
        Chase Equipment Leasing, Inc.                  1,545,139
        JP Morgan Chase Bank                           3,000,000
        First Magnus Equity XI, LLC                    2,700,000

E.    Creditors Holding Unsecured Priority Claims
        Employee pay
          Employee wage liabilities                   11,324,106
          Uncashed payroll checks voided as of
            the Petition Date                            210,000
         Employee benefit claims payable to
           Principal Insurance Company                   903,063
         Property taxes due to Pima County
           Treasurer                                       5,207

F.    Creditors Holding Unsecured
        Nonpriority Claims
        Accounts Payable List                         18,118,018
        American express credit card statements          901,987
        Employee health insurance plan
          administrative fee                             199,537
        Balance due to Firt Magnus Capital, Inc.      24,586,803
        National Bank of Arizona,
          less setoff amounts                          2,516,187
        Subordinated note payable tdue to
          Thomas Sullivan, Sr. Revocable Trust        20,000,000

      TOTAL SCHEDULED LIABILITIES                 $1,606,843,227
      ==========================================================

First Magnus Financial Corporation reports that creditors
scheduled as holding unsecured priority claims also hold an
unsecured non-priority component to their claims aggregating
$1,088,677.  Accordingly, the Debtor's scheduled unsecured non-
priority claims total $67,411,209.

First Magnus scheduled $1,572,205,025 in total secured claims,
bringing the Debtor's total scheduled liabilities to
$1,652,058,610.  Direct computation of the data provided in
Schedule D, however, shows that the scheduled secured claims
total $1,526,989,642.

                        About First Magnus

Based in Tucson, Arizona, First Magnus Financial Corporation --
http://www.firstmagnus.com/-- purchases and sells prime and Alt-A    
mortgage loans secured by one-to-four unit residences.  The
company filed for chapter 11 protection on Aug. 21, 2007 (Bankr.
D. Ariz. Case No.: 07-01578).  John R. Clemency, Esq.,
at Greenberg Traurig LLP is the proposed counsel for the
Debtor.When the Debtor filed for bankruptcy, it listed total
assets of $942,109,860 and total debts of $812,533,046.

The Debtor's exclusive period to file a plan expires on Dec. 19,
2007.  (First Magnus Bankruptcy News, Issue No. 5; Bankruptcy
Creditors' Service Inc. http://bankrupt.com/newsstand/or    
215/945-7000).


INTERSTATE BAKERIES: Posts $3.6MM Net Loss in Month Ended July 28
-----------------------------------------------------------------

        Interstate Bakeries Corporation and Subsidiaries
         Unaudited Consolidated Monthly Operating Report
                 Four Weeks Ended July 28, 2007

REVENUE

Gross Income                                        $224,767,832
Less Cost of Goods Sold
   Ingredients, Packaging & Outside Purchasing        55,944,248
   Direct & Indirect Labor                            39,751,914
   Overhead & Production Administration               11,625,524
                                                   -------------
      Total Cost of Goods Sold                       107,321,686
                                                   -------------
          Gross Profit                               117,446,146
                                                   -------------
OPERATING EXPENSES

Owner-Draws/Salaries                                           -
Selling & Delivery Employee Salaries                  50,704,127
Advertising and Marketing                              2,901,612
Insurance (Property, Casualty, & Medical)             12,047,225
Payroll Taxes                                          4,446,341
Lease and Rent                                         3,193,506
Telephone and Utilities                                1,011,545
Corporate Expense (Including Salaries)                 7,542,400
Other Expenses                                        28,306,324
                                                   -------------
     Total Operating Expenses                        110,153,080
                                                   -------------
EBITDA                                                 7,293,066

Restructuring & Reorganization Charges                 2,428,630
Depreciation and Amortization                          5,166,628
Abandonment                                             (198,288)
Other( Income)/Expense                                    (9,201)
Gain/Loss Sale of Property                                     -
Interest Expense                                       3,658,370
                                                   -------------
     Operating Income (Loss)                          (3,753,073)
Income Tax Expense (Benefit)                             (97,580)
                                                   -------------
NET Income (Loss)                                    ($3,655,493)
                                                   =============

CURRENT ASSETS
   Accounts Receivable at end of period             $142,100,145
   Increase (Dec.) in Accounts Receivable             (8,109,589)
   Inventory at end of period                         64,622,430
   Increase (Decrease) in Inventory for period        (1,651,691)
   Cash at end of period                              62,786,299
   Increase (Decrease) in Cash for period               (843,271)
   Restricted Cash                                    17,468,772
   Increase (Dec.) in Restricted Cash for period       2,383,455

LIABILITIES
   Increase (Decrease) in Liabilities
      Not Subject to Compromise                      (10,014,517)
   Increase (Decrease) in Liabilities
      Subject to Compromise                              (99,650)
   Taxes payable:
      Federal Payroll Taxes                            4,038,334
      State/Local Payroll Taxes                        1,582,109
      State Sales Taxes                                  759,456

      Real Estate and Personal Property Taxes          7,642,455
      Other                                            3,762,591
                                                   -------------
      Total Taxes Payable                            $17,784,945
                                                   =============

Headquartered in Kansas City, Missouri, Interstate Bakeries
Corporation is a wholesale baker and distributor of fresh-baked
bread and sweet goods, under various national brand names,
including Wonder(R), Baker's Inn(R), Merita(R), Hostess(R) and
Drake's(R).  Currently, IBC employs more than 25,000 people and
operates 45 bakeries, as well as approximately 800 distribution
centers and approximately 800 bakery outlets throughout the
country.

The company and seven of its debtor-affiliates filed for chapter
11 protection on Sept. 22, 2004 (Bankr. W.D. Mo. Case No.
04-45814).  J. Eric Ivester, Esq., and Samuel S. Ory, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP represent the Debtors in
their restructuring efforts.  When the Debtors filed for
protection from their creditors, they listed $1,626,425,000 in
total assets and $1,321,713,000 (excluding the $100,000,000 issue
of 6% senior subordinated convertible notes due Aug. 15, 2014) in
total debts.  The Debtors' exclusive period to file a chapter 11
plan expires on Oct. 5, 2007.  (Interstate Bakeries Bankruptcy
News, Issue No. 67; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


SAINT VINCENT: Earns $11,804,835 in July 2007
---------------------------------------------

                          SVCMC Debtors
              Unaudited Consolidated Balance Sheet
                       As of July 31, 2007

ASSETS
Cash & Cash Equivalents                              $7,359,434
Investments                                                   -
Patients Accounts Receivable, less allowance for
   doubtful accounts                                 62,404,927
Accounts Receivable                                  55,096,278
Other Current Assets                                 22,399,560
Assets Held for Sale                                  9,760,900
                                                 --------------
   Total Current Assets                             157,021,099

Depreciation Reserve Funds & Collaterized Assets      7,465,309
Assets Designated for Self-Insurance
   Investments at Market                             48,801,682
Assets whose use is limited                                   -
   Investments at Market                             57,230,436
Other Non-Current Assets                             12,471,302

Land, Buildings & Equipment, net of
   Accumulated Depreciation                         121,342,310
                                                 --------------
    Total Assets                                   $404,332,138
                                                 ==============

LIABILITIES AND NET ASSETS
Liabilities Not Subject to Compromise:
   Long-term Debt                                   $92,231,827
   Long-term Debt (GE)                               82,783,718
   Accounts Payables & Accrued Expenses             137,366,912
   Accrued Salaries & Payroll Taxes Withheld         38,323,493
   Estimated Retroactive Payables                    87,085,343
   Other Non-current Liabilities                     58,493,647

   Total Liabilities Not Subject to Compromise      496,284,940

Liabilities Subject to Compromise:
   Liabilities Subject to Compromise                454,886,760
                                                 --------------
   Total Liabilities Subject to Compromise          454,886,760
                                                 --------------
   Total Liabilities                                951,171,700

Net Assets:
   Unrestricted                                    (614,215,490)
   Temporarily Restricted                            42,656,299
   Permanently Restricted                            24,719,629
                                                 --------------
   Total Net Assets                                (546,839,562)
                                                 --------------
   Total Liabilities & Net Assets                  $404,332,138
                                                 ==============

                          SVCMC Debtors
             Unaudited Consolidated Income Statement
                    From July 1 to 31, 2007

Operating Revenue
   Inpatient                                        $31,348,754
   Outpatient                                        19,197,851
                                                 --------------
      Patient Service Revenue                        50,546,605
                                                 --------------
   Less Provision for Bad Debt                        2,346,184
                                                 --------------
      Net Patient Service Revenue                    48,200,421
                                                 --------------
   Pool Revenue                                       1,498,654
   Capitation                                         7,882,262
   Other                                              7,950,423
                                                 --------------
   Total Operating Revenue                           65,531,760

Operating Expenses:
   Salaries and Wages                                25,378,121
   Fringe Benefits                                    6,747,143
   Supplies and Other                                26,457,416
   Insurance                                          1,816,890
                                                 --------------
   Total Direct Operating Costs                      60,399,570

   Salaries and Wages                                         0
   Fringe Benefits                                            0
   Supplies and Other                                         0
                                                 --------------
   Total Corporate Allocated                          1,796,852
                                                 --------------
   Total Operating Expense                           62,196,422
                                                 --------------
Interest                                              1,520,817
Depreciation                                          1,576,529
                                                 --------------
   Operating Gain (Loss) Before
      Non-Recurring and/or Unusual Items                237,992

Non-Recurring and/or Unusual Items:
   Discontinued Operations (St. Mary's)                       0
   St. Mary's Op Pac Rate Adjustment                          0
   ZBEC/HFE Recoveries                                        0
   Restructuring & Bankruptcy Related Costs            
(2,980,325)
   Estimated Close-out of St. Mary's                          0
   Hanys Investment Income (SFS INS)                          0
   Prior Period Ambulance Revenue                             0
   Transfer of Equity Foundation                              0
                                                 --------------
   Total Non-Recurring and/or Unusual Items          (2,980,325)
                                                 --------------
   Operating Gain (Loss) After
      Non-Recurring and/or Unusual Items             (2,742,333)
                                                 --------------
Non-Operating Revenue                                 6,111,378
Change in Temporary Restricted Net Assets             8,435,790
                                                 --------------
   Change in Net Assets                              11,804,835
                                                 --------------
   EBITDA                                            $3,335,338
                                                 ==============

                          SVCMC Debtors
                Unaudited Statement of Cash Flows
                     From July 1 to 31, 2007

Cash Flows from Operation Activities:
   Changes in Net Assets                            $11,804,835

Adjustments to Reconcile Changes in Net Assets
   to Net Cash Provided by Operating Activities:
   Depreciation & Amortization                        1,576,529
   Change in Unrealized Gains & Losses                3,842,391
   Change in Patient's Accounts Receivable               
(713,672)
   Change in Accounts Receivables, Other              
(15,401,346)
   Change in Prepaid Expenses & Other                    
(676,587)
   Change in Other Non-Current Assets                 1,827,969
   Change in Accounts Payable &
      Accrued Exp-Prepetition                                 0
   Change in Accounts Payable &
      Accrued Exp-Postpetition                        2,846,828
   Change in Accrued Salaries & P/R Taxes             3,903,810
   Change in Est. Retro rec/pay
      from/to third parties                             212,381
   Change in Est. Liability for self-insurance                0
   Change in Other Non-Current Liabilities           (3,743,100)
                                                 --------------
   Net Cash Provided by Operating Activities          5,480,038

Cash flows From Investment Activities:
   Sale of Investments, Net                             (14,040)
   Sale of Assets Whose Use is Limited               (1,683,134)
   Acquisition/Sale of Land, Building,
      & Equipment                                    (3,171,333)
                                                 --------------
   Net Cash Provided by Investing Activities         (4,868,507)

Cash flows From Financing Activities:
   Proceeds/Repayment From/of Working Capital Loan    4,152,182
   Proceed from issuance of Long-term debt                    0
   Repayment of Long-term debt                       (3,709,100)
                                                 --------------
   Net Cash (Used) in Financing Activities              443,082

   Net Increase (Decrease)
      in Cash & Cash Equivalents                      1,054,613

   Cash & Cash Equivalents at Beginning of Month      6,304,821
                                                 --------------
   Cash & Cash Equivalents at End of the Month       $7,359,434
                                                 ==============

Based in New York City, Saint Vincent's Catholic Medical Centers
of New York -- http://www.svcmc.org/-- the healthcare provider in   
New York State, operates hospitals, health centers, nursing homes
and a home health agency.  The hospital group consists of seven
hospitals located throughout Brooklyn, Queens, Manhattan, and
Staten Island, along with four nursing homes and a home health
care agency.

The company and six of its affiliates filed for chapter 11
protection on July 5, 2005 (Bankr. S.D.N.Y. Case No. 05-14945
through 05-14951).  Gary Ravert, Esq., and Stephen B. Selbst,
Esq., at McDermott Will & Emery, LLP, filed the Debtors' chapter
11 cases.  On Sept. 12, 2005, John J. Rapisardi, Esq., at Weil,
Gotshal & Manges LLP took over representing the Debtors in their
restructuring efforts.  Martin G. Bunin, Esq., at Thelen Reid &
Priest LLP, represents the Official Committee of Unsecured
Creditors.  As of Apr. 30, 2005, the Debtors listed $972 million
in total assets and $1 billion in total debts.  The Debtors filed
their Chapter 11 Plan of Reorganization accompanying a disclosure
statement explaining that Plan on Feb. 9, 2007.  On June 1, 2007,
the Debtors filed an Amended Plan & Disclosure Statement.  The
Court confirmed the Debtors' Amended Plan on July 27, 2007.  
(Saint Vincent Bankruptcy News, Issue No. 63  Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or    
215/945-7000).


VESTA INSURANCE: Florida Select Files August 2007 Operating Report
------------------------------------------------------------------

                   Florida Select Insurance Agency
                        Income Statement
                  Month Ended in August 31, 2007

Revenue from Total Sales                                     $0
Less:
   Cost of Sales                                             
                                                   ------------
Gross Profit                                                 $0

Less:
   Operating Expenses                                         0
                                                   ------------
Net Profit Operations                                         0

Non-Operating Income (Expenses)
   Interest Earned                                       12,571
   Vendor Refund                                              0
                                                   ------------
Net Profit (Loss)                                       $12,571
                                                   ============


                   Florida Select Insurance Agency
            Schedule of Cash Receipts and Disbursements
                    Month Ended August 31, 2007


Cash On Hand (Beginning)                            $3,340,586

Cash Receipts:
   Management Fees                                           0
   Loan Proceeds                                             0
   Sale of Property                                          0
   Interest Earned                                      12,571
   Vendor Refund                                             0
                                                  ------------
Total Receipts                                          12,571

Cash Disbursements:
   Business Disbursements Form BA-02(B)                      0
                                                  ------------
   Surplus Or Deficit                                   12,571
                                                  ------------
   Cash on Hand (End)                               $3,353,157
                                                  ============

Headquartered in Birmingham, Alabama, Vesta Insurance Group, Inc.
(Other OTC: VTAI.PK) -- http://www.vesta.com/-- is a holding      
company for a group of insurance companies that primarily offer
property insurance in targeted states.

Wyatt R. Haskell, Luther S. Pate, UV, and Costa Brava Partnership
III, L.P., filed an involuntary chapter 7 petition against the
company on July 18, 2006 (Bankr. N.D. Ala. Case No. 06-02517).
The case was converted to a voluntary chapter 11 case on Aug. 8,
2006 (Bankr. N.D. Ala. Case No. 06-02517).  Eric W. Anderson,
Esq., at Parker Hudson Rainer & Dobbs, LLP, represents the Debtor.
R. Scott Williams, Esq., at Haskell Slaughter Young & Rediker,
LLC, represents the petitioning creditors.  In its schedules of
assets and liabilities, Vesta listed $14,919,938 in total assets
and $214,278,847 in total liabilities.

J. Gordon Gaines Inc. is a Vesta Insurance-owned unit that
manages the company's numerous insurance subsidiaries and employs
the headquarters workers.  The company filed for chapter 11
protection on Aug. 7, 2006 (Bankr. N.D. Ala. Case No. 06-02808).
Eric W. Anderson, Esq., at Parker Hudson Rainer & Dobbs, LLP,
represent the Debtor in its restructuring efforts.   In its
schedules of assets and liabilities, Gaines listed $19,818,094 in
total assets and $16,046,237 in total liabilities.

On Aug. 1, 2006, the District Court of Travis County, Texas
entered an order appointing the Texas Commissioner of Insurance
as Liquidator of Vesta Insurance's Texas-domiciled subsidiaries:
Vesta Fire Insurance Corporation; The Shelby Insurance Company;
Shelby Casualty Insurance Corporation; Texas Select Lloyds
Insurance Company; and Select Insurance Services, Inc.

On Oct. 11, 2006, both Vesta and Gaines filed separate Plans of
Liquidation and Disclosure Statements.  They filed an amended Plan
on Nov. 7, 2006, and a Second Amended Plan on Nov. 10, 2006.  The
Court approved the Disclosure Statements of Vesta and Gaines on
Nov. 10, 2006.  On Dec. 22, 2006, the Court confirmed the Third
Amended Plans of Vesta and Gaines.

Florida Select Insurance Agency Inc., an affiliate, filed for
chapter 11 protection on April 24, 2007 (Bankr. N.D. Ala. Case No.
07-01849).  Rufus Dorsey, IV, Esq., at Parker Hudson Rainer &
Dobbs LLP, represents Florida Select.  FSIA's exclusive period to
file a plan of reorganization expires on Dec. 20, 2007.  (Vesta
Bankruptcy News, Issue No. 25; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)  


VESTA INSURANCE: Gordon Gaines Files August 2007 Operating Report
-----------------------------------------------------------------

                      J. Gordon Gaines, Inc.
                         Income Statement
                     Month Ended August 31, 2007

Revenue from Total Sales                                     $0
Less:
   Cost of Sales                                              0
                                                   ------------
Gross Profit                                                  0

Less:
   Operating Expenses                                    59,126
                                                   ------------
Net Profit Operations                                   (59,126)

Non-Operating Income (Expenses)
   Interest Earned                                        1,199
   State Tax Refunds                                          0
   Non-operational income                                     0
   Sale of Property                                           0
   Stale Dated Checks Written Off                             0
   Miscellaneous Income                                       0
                                                   ------------
Net Profit (Loss)                                      ($57,927)
                                                   ============


                      J. Gordon Gaines, Inc.
            Schedule of Cash Receipts and Disbursements
                     Month Ended August 31, 2007

Cash On Hand (Beginning)                               $642,983

Cash Receipts:
   Accounts Receivable                                        0
   Management Fees                                            0
   Loan Proceeds                                              0
   Sale of Property                                           0
   Interest Earned                                        1,199
   State Tax Refunds                                         
   Non-operational Income                                     0
   Funding by Texas Receiver                                  0
   Funding under post confirmation                      108,342
   Intercompany insurance operations                          0
   Stale Dated Checks Written Off                             0
   Miscellaneous Income                                       0
                                                    ------------
Total Receipts                                          109,541

Cash Disbursements:
   Business Disbursements Form BA-02(B)                 167,468
                                                   ------------
   Surplus Or Deficit                                   (57,927)
                                                   ------------
   Cash on Hand (End)                                  $585,056
                                                   ============

Headquartered in Birmingham, Alabama, Vesta Insurance Group, Inc.
(Other OTC: VTAI.PK) -- http://www.vesta.com/-- is a holding      
company for a group of insurance companies that primarily offer
property insurance in targeted states.

Wyatt R. Haskell, Luther S. Pate, UV, and Costa Brava Partnership
III, L.P., filed an involuntary chapter 7 petition against the
company on July 18, 2006 (Bankr. N.D. Ala. Case No. 06-02517).
The case was converted to a voluntary chapter 11 case on Aug. 8,
2006 (Bankr. N.D. Ala. Case No. 06-02517).  Eric W. Anderson,
Esq., at Parker Hudson Rainer & Dobbs, LLP, represents the Debtor.
R. Scott Williams, Esq., at Haskell Slaughter Young & Rediker,
LLC, represents the petitioning creditors.  In its schedules of
assets and liabilities, Vesta listed $14,919,938 in total assets
and $214,278,847 in total liabilities.

J. Gordon Gaines Inc. is a Vesta Insurance-owned unit that
manages the company's numerous insurance subsidiaries and employs
the headquarters workers.  The company filed for chapter 11
protection on Aug. 7, 2006 (Bankr. N.D. Ala. Case No. 06-02808).
Eric W. Anderson, Esq., at Parker Hudson Rainer & Dobbs, LLP,
represent the Debtor in its restructuring efforts.   In its
schedules of assets and liabilities, Gaines listed $19,818,094 in
total assets and $16,046,237 in total liabilities.

On Aug. 1, 2006, the District Court of Travis County, Texas
entered an order appointing the Texas Commissioner of Insurance
as Liquidator of Vesta Insurance's Texas-domiciled subsidiaries:
Vesta Fire Insurance Corporation; The Shelby Insurance Company;
Shelby Casualty Insurance Corporation; Texas Select Lloyds
Insurance Company; and Select Insurance Services, Inc.

On Oct. 11, 2006, both Vesta and Gaines filed separate Plans of
Liquidation and Disclosure Statements.  They filed an amended Plan
on Nov. 7, 2006, and a Second Amended Plan on Nov. 10, 2006.  The
Court approved the Disclosure Statements of Vesta and Gaines on
Nov. 10, 2006.  On Dec. 22, 2006, the Court confirmed the Third
Amended Plans of Vesta and Gaines.

Florida Select Insurance Agency Inc., an affiliate, filed for
chapter 11 protection on April 24, 2007 (Bankr. N.D. Ala. Case No.
07-01849).  Rufus Dorsey, IV, Esq., at Parker Hudson Rainer &
Dobbs LLP, represents Florida Select.  FSIA's exclusive period to
file a plan of reorganization expires on Dec. 20, 2007.  (Vesta
Bankruptcy News, Issue No. 25; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)  

                             *********

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.

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., Frederick, Maryland,
USA.  Marie Therese V. Profetana, Shimero R. Jainga, Ronald C. Sy,
Joel Anthony G. Lopez, Cecil R. Villacampa, Jason A. Nieva,
Melanie C. Pador, Ludivino Q. Climaco, Jr., Loyda I. Nartatez,
Tara Marie A. Martin, John Paul C. Canonigo, Sheena R. Jusay, and
Peter A. Chapman, Editors.

Copyright 2007.  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 $775 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 Christopher Beard
at 240/629-3300.

                    *** End of Transmission ***