/raid1/www/Hosts/bankrupt/TCR_Public/071201.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 1, 2007, Vol. 11, No. 285
Headlines
AMERICAN HOME: Files Amended Schedules of Assets and Liabilities
AMERICAN HOME: AHM Corp. Amends Schedules of Assets and Debts
AMERICAN HOME: Homegate Amends Schedules of Assets and Liabilities
DURA AUTOMOTIVE: Incurs $14,521,000 Net Loss in October 2007
FIRST MAGNUS: Posts $60,859,610 Net Loss in October 2007
HOMEBANC CORP: Posts $36,036,000 Net Loss in October 2007
HOMEBANC CORP: Amends Schedules of Assets and Liabilities
HOMEBANC CORP: HB Funding Amends Schedules of Assets and Debts
HOMEBANC CORP: HB Funding II Amends Schedules of Assets and Debts
HOMEBANC CORP: HMB Corp. Amends Schedules of Assets and Debts
HOMEBANC CORP: HMB Acceptance Amends Schedules of Assets and Debts
HOMEBANC CORP: HMB Mortgage Amends Schedules of Assets and Debts
LEVITT & SONS: LAS Lake County Files Schedules of Assets & Debts
LEVITT & SONS: LAS Hawk Haven Files Schedules of Assets and Debts
VESTA INSURANCE: Gordon Gaines Files Oct. 2007 Operating Repor
*********
AMERICAN HOME: Files Amended Schedules of Assets and Liabilities
----------------------------------------------------------------
American Home Mortgage Investment Corp. amended schedule B of its
Schedules of Assets and Liabilities to add an inter-company
accounts receivable aggregating $1,299,975,781, among other
things.
B - Personal Property
B.1 Cash on Hand $0
B.2 Bank Accounts
Deutsche Bank 29,133
Northfork Bank 20,920,765
B.3 Security Deposits 0
B.4 Household goods 0
B.5 Book, artwork and collectibles 0
B.6 Wearing apparel 0
B.7 Furs and jewelry 0
B.8 Firearms and other equipment 0
B.9 Insurance Policies 0
B.10 Annuities 0
B.11 Interests in an education IRA 0
B.12 Interests in pension plans 401(k) Plan 0
B.13 Stock and Interests
100 % interest in AHMAC Undetermined
100 % interest in AHMH Undetermined
100 % interest in AHMSP VIII Undetermined
B.14 Interests in partnerships 0
B.15 Government and corporate bonds 0
B.16 Accounts Receivable
Inter-company AHM 1,299,975,781
Inter-company Baylis Trust 1 7,865,269
Accrued Int. Receivable Trading Sec. 4,110,281
Others 701,289
B.17 Alimony 0
B.18 Other Liquidated Debts Owing Debtor 0
B.19 Equitable or future interests 0
B.20 Interests in estate death benefit plan 0
B.21 Other Contingent and Unliquidated Claims 89,472
B.22 Patents, copyrights, and others 0
B.23 Licenses, franchises & other intangibles 0
B.24 Customer lists or other compilations 0
B.25 Vehicles 0
B.26 Boats, motors and accessories 0
B.27 Aircraft and accessories 0
B.28 Office Equipment 0
B.29 Equipment and Supplies for Business 0
B.30 Inventory 0
B.31 Animals 0
B.32 Crops 0
B.33 Farming equipment and implements 0
B.34 Farm supplies, chemicals, and feed 0
B.35 Other Personal Property 0
Derivative assets 17,320,805
Mortgage backed securities 1,596,492,619
Prepaid expenses 11,876
TOTAL SCHEDULED ASSETS $2,947,517,290
=========================================================
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors has selected Hahn & Hessen LLP
as its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expires on Dec. 4, 2007. (American Home Bankruptcy
News, Issue No. 16, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: AHM Corp. Amends Schedules of Assets and Debts
-------------------------------------------------------------
American Home Mortgage Corp. amended schedules E and F of its
Schedules of Assets and Liabilities to reflect certain changes to
those schedules. The total scheduled liabilities now aggregate
$4,633,407,089:
D - Creditors Holding Secured Claims $2,982,107,598
E - Creditors Holding Unsecured Priority Claims 8,278,185
F - Creditors Holding
Unsecured Nonpriority Claims 1,643,021,306
TOTAL SCHEDULED LIABILITIES $4,633,407,089
=========================================================
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors has selected Hahn & Hessen LLP
as its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expires on Dec. 4, 2007. (American Home Bankruptcy
News, Issue No. 16, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
AMERICAN HOME: Homegate Amends Schedules of Assets and Liabilities
------------------------------------------------------------------
Homegate Settlements Services Inc. amended the list of creditors
holding unsecured claims in schedules E and F of its Schedules of
Assets and Liabilities. The schedules were amended to reflect the
omission of certain creditors. Schedule E currently aggregates
$312,892, while Schedule F aggregates $8,434,560.
Homegate Settlements' total scheduled liabilities amount to
$8,747,452.
Based in Melville, New York, American Home Mortgage Investment
Corp. (NYSE: AHM) -- http://www.americanhm.com/-- is a mortgage
real estate investment trust engaged in the business of investing
in mortgage-backed securities and mortgage loans resulting from
the securitization of residential mortgage loans originated and
serviced by its subsidiaries.
American Home Mortgage and seven affiliates filed for chapter 11
protection on Aug. 6, 2007 (Bankr. D. Del. Case Nos. 07-11047
through 07-11054). James L. Patton, Jr., Esq., Joel A. Waite,
Esq., and Pauline K. Morgan, Esq. at Young, Conaway, Stargatt &
Taylor LLP represent the Debtors. Epiq Bankruptcy Solutions LLC
acts as the Debtors' claims and noticing agent. The Official
Committee of Unsecured Creditors has selected Hahn & Hessen LLP
as its counsel. As of March 31, 2007, American Home Mortgage's
balance sheet showed total assets of $20,553,935,000, total
liabilities of $19,330,191,000. The Debtors' exclusive period to
file a plan expires on Dec. 4, 2007. (American Home Bankruptcy
News, Issue No. 16, Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).
DURA AUTOMOTIVE: Incurs $14,521,000 Net Loss in October 2007
------------------------------------------------------------
Dura Automotive Systems, Inc., and Subsidiaries
Condensed Unaudited Consolidated Balance Sheet
As of October 28, 2007
(In thousands of dollars)
ASSETS
Current assets:
Cash and cash equivalents $4,560
Accounts receivable, net
Trade 113,050
Other 7,955
Non-Debtor subsidiaries 31,787
Inventories 49,116
Other current assets 35,019
----------
Total current assets 241,487
Property, plant and equipment, net 132,570
Goodwill, net 178,611
Notes receivable from Non-Debtors subsidiaries 189,955
Investment in Non-Debtors subsidiaries 790,647
Other noncurrent assets 16,993
----------
Total Assets $1,550,263
==========
LIABILITIES AND STOCKHOLDERS' INVESTMENT
Current liabilities:
Debtors-in-possession financing $126,624
Accounts payable 45,468
Accounts payable to Non-Debtors subsidiaries 1,972
Accrued Liabilities 77,373
----------
Total current liabilities 251,437
Long-term Liabilities:
Notes Payable to Non-Debtors subsidiaries 9,283
Other noncurrent liabilities 57,642
Liabilities Subject to Compromise 1,310,801
----------
Total Liabilities 1,629,163
Stockholders' Investment (78900)
----------
Total Liabilities and Stockholders' Investment $1,550,263
==========
Dura Automotive Systems, Inc., and Subsidiaries
Condensed Unaudited Consolidated Statement of Operations
For the Four Weeks Ended October 28, 2007
(In thousands of dollars)
Total sales $60,451
Cost of sales 61,056
----------
Gross (loss) profit (605)
Selling, general and administrative expenses $5,802
Facility consolidation, asset impairment
and other charges 686
Amortization expense 19
----------
Operating (loss) income (7,112)
Interest expense, net 2,817
----------
Loss before reorganization items and income taxes (9,929)
Reorganization items 4,620
----------
Loss before income taxes (14,549)
Provision for income taxes 20
Loss from continuing operations (14,569)
Loss from discontinued operations (48)
----------
Net Income (Loss) (14,521)
==========
Dura Automotive Systems, Inc., and Subsidiaries
Condensed Unaudited Consolidated Statements of Cash Flows
For the Four Weeks Ended October 28, 2007
(In thousands of dollars)
Operating Activities:
Net Income (loss) ($14,521)
Adjustments to reconcile net loss to net cash used
in operations activities:
Depreciation, amortization & asset impairment 2,091
Amortization of deferred financing fees 708
(Gain)/Loss on sale of assets 36
Reorganization items 4,620
Changes in other operating items:
Accounts receivable 2,617
Inventories (1,104)
Other current assets (733)
Noncurrent assets 76
Accounts payable 184
Accrued liabilities 521
Noncurrent liabilities (119)
Current intercompany transactions (1,139)
----------
Net cash provided by operating activities (6,763)
Investing Activities:
Purchases of property, plant & equipment (1,464)
Proceeds from sales of assets -
----------
Net cash (used in) provided by
investing activities (1,464)
Financing Activities:
DIP Borrowings 6,688
Payments on prepetition debt -
----------
Net cash used in financing activities 6,688
----------
Net change in cash & cash equivalents
from continuing operations (1,539)
Cash flows from discontinued operations
Proceeds from sale of Atwood -
----------
Net change in cash & cash equivalents
from discontinued operations -
Cash & cash equivalents, Beginning Balance 6,099
----------
Cash & cash equivalents, ending balance
$4,560
==========
Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an
independent designer and manufacturer of driver control systems,
seating control systems, glass systems, engineered assemblies,
structural door modules and exterior trim systems for the global
automotive industry. The company is also a supplier of similar
products to the recreation vehicle and specialty vehicle
industries. DURA sells its automotive products to North
American, Japanese and European original equipment manufacturers
and other automotive suppliers.
The company has three locations in Asia -- China, Japan
and Korea. It has locations in Europe and Latin-America,
particularly in Mexico, Germany and the United Kingdom.
The Debtors filed for chapter 11 petition on Oct. 30, 2006
(Bankr. D. Del. Case No. 06-11202). Richard M. Cieri, Esq.,
Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan
Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel
for the Debtors' bankruptcy proceedings. Mark D. Collins, Esq.,
Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors' co-
counsel. Baker & McKenzie acts as the Debtors' special counsel.
Togut, Segal & Segal LLP is the Debtors' conflicts counsel.
Miller Buckfire & Co., LLC is the Debtors' investment banker.
Glass & Associates Inc., gives financial advice to the Debtor.
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors. As of
July 2, 2006, the Debtor had USUS$1,993,178,000 in total assets
and USUS$1,730,758,000 in total liabilities.
The Debtors' exclusive plan-filing period expired on Sept. 30,
2007. On Aug. 22, 2007, the Debtors filed their Plan of
Reorganization and the Disclosure Statement explaining that Plan
was approved on Oct. 3, 2007.
The Bankruptcy Court canceled the confirmation hearing scheduled
for Dec. 6, 2007, saying there was no point moving forward with
the Plan until DURA obtains the necessary exit financing.
(Dura Automotive Bankruptcy News, Issue No. 38 Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).
FIRST MAGNUS: Posts $60,859,610 Net Loss in October 2007
--------------------------------------------------------
First Magnus Financial Corporation
Balance Sheet
As of October 31, 2007
ASSETS
Unrestricted Cash $10,849,542
Restricted Cash --
Accounts Receivable (net) 669,261,283
Inventory -
Notes Receivable -
Prepaid Expenses -
Other 1,172,069
Property, Plant & Equipment
Less : Accumulated Depreciation
Net property, Plant & Equipment 27,667,539
Due From Insider(s)
Other Assets - net 6,939,377
Other 12,992,671
--------------
TOTAL ASSETS $728,882,481
==============
POST PETITION LIABILITIES
Accounts Payable $288,179
Taxes Payable --
Notes Payable --
Professional Fees --
Secured Debt --
Other 1,074,320
--------------
Total Post-Petition Liabilities 1,362,499
PREPETITION LIABILITIES
Secured Debt 492,730,207
Priority Debt 11,822,911
Unsecured Debt 67,411,209
Other --
--------------
Total Prepetition Liabilities 571,964,327
--------------
TOTAL LIABILITIES 573,326,826
EQUITY
Pre-petition Owner's Equity 217,787,848
Post-Petition Cumulative Profit/Loss (62,232,194)
--------------
Total Equity 155,555,654
--------------
TOTAL LIABILITIES & OWNER'S EQUITY $728,882,481
==============
First Magnus Financial Corporation
Income Statement
Month Ended October 31, 2007
REVENUES
Gross Revenue $42,424
Less: Returns and Discounts --
--------------
Net Revenue 42,424
COST OF GOODS SOLD
Material --
Direct Labor 471,901
Direct Overhead --
--------------
Total Cost of Goods Sold 471,901
--------------
GROSS PROFIT (429,478)
OPERATING EXPENSES
Officer/Insider Compensation --
General & Administrative 243,951
Other Expenses --
--------------
Total Operating Expenses 243,951
--------------
Income Before Non-Operating Income
and Expenses (673,428)
OTHER INCOME AND EXPENSE
Other Income --
Other Expense 60,182,431
Interest Expense --
Depreciation/Depletion --
Amortization --
Net other Income and Expense 60,182,431
--------------
Income Before Reorganization Expense (60,855,860)
REORGANIZATION EXPENSES
Professional Fees --
U.S. Trustee Fees 3,750
Other --
--------------
Total Reorganization Expenses 3,750
Income Tax --
--------------
NET PROFIT OR (LOSS) ($60,859,610)
==============
First Magnus Financial Corporation
Receipts and Disbursements
Month Ended October 31, 2007
Balance at Beginning of Period $4,517,098
RECEIPTS: --
Cash Sales --
Accounts Receivable -- Prepetition --
Accounts Receivable -- Postpetition --
Loans and Advances --
Sale of Assets 5,366,534
Transfers from Other DIP Accounts 1,117,550
Others 2,355,796
--------------
Total Receipts 8,839,880
DISBURSEMENTS:
Business -- Ordinary Operations 1,215,926
Capital Improvements --
Prepetition Debt --
Transfers to Other DIP Accounts 1,117,550
Others 170,210
Reorganization Expenses:
Attorney's Fees --
Accountant Fees --
Other Professional Fees --
U.S. Trustee Quarterly Fee 3,750
Court Costs --
--------------
Total Disbursements 2,507,436
Balance at End of Month $10,849,542
==============
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 serves as the counsel for the Debtor. The
Official Committee of Unsecured Creditors has selected the firm
Warner Stevens LLP as its counsel. 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. 11; Bankruptcy
Creditors' Service Inc. http://bankrupt.com/newsstand/or
215/945-7000).
HOMEBANC CORP: Posts $36,036,000 Net Loss in October 2007
---------------------------------------------------------
HomeBanc Mortgage Corporation and Subsidiaries
Unaudited Consolidated Balance Sheet
As of October 31, 2007
ASSETS
Cash $9,778,000
Restricted cash 10,449,000
Mortgage loans held for sale, net 516,987,000
Mortgage loans held for investment, net 3,155,468,000
Mortgage servicing rights 67,157,000
Receivable from custodian 627,151,000
Trading securities 752,000
Securities available for sale 0
Securities held to maturity 0
Accrued interest receivable (1,386,000)
Premises and equipment, net 15,162,000
Goodwill, net 0
Deferred tax asset, net 16,502,000
Accounts receivable from affiliates 0
Investment in subsidiaries 0
Other Assets 43,183,000
---------------
TOTAL ASSETS $4,461,203,000
===============
LIABILITIES & EQUITY
Warehouse lines of credit $523,011,000
Repurchase agreements 0
Loan funding payable 21,631,000
Accrued interest payable 0
Accrued expenses 24,506,000
Other accounts payable (18,562,000)
Accounts payable to affiliates 589,000
Collaterized debt obligations 3,661,112,000
Junior subordinated debentures representing 175,260,000
obligations for trust preferred securities
---------------
Total liabilities 4,387,547,000
Minority interest 64,000
Shareholders Equity:
Preferred stock 47,992,000
Common stock 571,000
Additional paid-in capital 278,865,000
Accumulated deficit (235,932,000)
Treasury stock (17,904,000)
Accumulated other comprehensive (loss) income 0
---------------
Total shareholder's equity 73,592,000
---------------
TOTAL LIABILITIES & EQUITY $4,461,203,000
===============
HomeBanc Mortgage Corporation and Subsidiaries
Unaudited Consolidated Statement of Operations
For the Month Period Ended October 31, 2007
REVENUES
Net interest income:
Interest income:
Mortgage loans including fees ($16,102,000)
Securities available for sale 0
Securities held to maturity 0
Trading securities 0
---------------
Total interest income (16,102,000)
Total interest expense (17,241,000)
---------------
Net interest income (33,343,000)
Provision for loan losses 0
---------------
Net interest income after provision for loan (33,343,000)
losses
Net gain on sale of mortgage loans (29,000)
Net gain on sale of securities available 1,000
for sale
Mortgage servicing income, net (208,000)
Other revenue 538,000
---------------
Total revenues (33,041,000)
EXPENSES
Salaries and associate benefits, net 915,000
Goodwill impairment 0
Marketing and promotions (26,000)
Occupancy and equipment 300,000
Depreciation and amortization 490,000
Minority interest 0
Other operating expense 1,316,000
---------------
Total expenses 2,995,000
---------------
Loss before income taxes (36,036,000)
Income tax expense 0
---------------
Net loss ($36,036,000)
===============
HomeBanc Mortgage Corporation and Subsidiaries
Consolidated Statement of Cash Flows
For the Ten-Month Period Ended October 31, 2007
OPERATING ACTIVITIES
Net loss ($170,860,000)
Adjustments to reconcile net loss to net cash
(used in) provided by operating activities:
Goodwill impairment 39,995,000
Depreciation and amortization 6,344,000
Net amortization of premium/accretion of (1,064,000)
discount on investment securities
Provision for loan losses (3,830,000)
Provision for losses associated with certain (5,104,000)
loan sales and mortgage loans held for sale
Gain on sale of securities available for sale (24,003,000)
Capitalization of mortgage servicing rights (23,172,000)
Change in fair value of mortgage servicing (77,000)
rights
Loss on disposal of premises and equipment 27,492,000
Stock-based compensation, net 2,678,000
Compensation expense for Sales Equity Plan, net 158,000
Cumulative effect of change in accounting 0
principle
Minority interest 22,000
Deferred taxes 5,716,000
Decrease (increase) in restricted cash 117,584,000
(Increase) decrease in mortgage loans held for (137,688,000)
sale, net
Increase in trading securities 4,072,000
Decrease in receivable from custodian (549,539,000)
Decrease (increase) in accrued interest 23,773,000
receivable
Decrease (interest) in other assets 74,313,000
(Decrease) increase in accrued interest (9,144,000)
payable
Decrease in other liabilities (70,565,000)
---------------
Net cash (used in) provided by operating
activities (692,899,000)
INVESTING ACTIVITIES
Net principal collections of mortgage loans held 1,215,060,000
for investment
Purchases of premises and equipment, net (3,592,000)
Purchases of investment securities available 0
for sale
Proceeds from the sale of securities available 1,509,386,000
for sale
Proceeds from maturities and prepayments of 49,274,000
investment securities available for sale
Purchase of investment securities held to 0
maturity
Proceeds from maturities and prepayments of 10,553,000
investment securities held to maturity
---------------
Net cash provided by (used in) investing
activities 2,780,681,000
FINANCING ACTIVITIES
Increase (decrease) in warehouse credit 118,246,000
facilities, net
(Decrease) increase in repurchase agreements, (1,527,470,000)
net
Net change in loan funding payable (42,224,000)
Proceeds from debt issuance 0
Repayment of debt (615,914,000)
Proceeds from issuance of preferred stock, net 0
Purchase of shares under share repurchase prog (16,499,000)
Purchase of shares under Sales Equity Plan 0
Cash dividends paid (15,130,000)
---------------
Net cash (used in) provided by financing
activities (2,098,991,000)
---------------
Net increase (decrease) in cash (11,209,000)
Cash and cash equivalents at beginning of period 20,987,000
---------------
Cash and cash equivalents at end of period $9,778,000
===============
HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079
through 07-11084). Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them
in these cases. The Debtors' financial condition as of June 30,
2007, showed total assets of $5,100,000,000 and total liabilities
of $4,900,000,000.
The Debtors' exclusive period to file a plan ends on April 7,
2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Services Inc. http://bankrupt.com/newsstand/or
215/945-7000).
HOMEBANC CORP: Amends Schedules of Assets and Liabilities
---------------------------------------------------------
On Nov. 8, 2007, pursuant to Rule 1009(a) of the Federal
Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules
of Bankruptcy Practice and Procedure of the United States
Bankruptcy Court for the District of Delaware, HomeBanc Corp.
amended Schedule F of its schedules of assets and liabilities.
HomeBanc lists as $0 the total claim amounts of these creditors:
-- Hiwot Mekonnen;
-- Kyiesha Shepard; and
-- Sharon Thompson.
Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation --
http://www.homebanc.com/-- is a mortgage banking company focused
on originating primarily prime purchase money residential mortgage
loans in the Southeast United States.
HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079
through 07-11084). Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them
in these cases. The Debtors' financial condition as of June 30,
2007, showed total assets of $5,100,000,000 and total liabilities
of $4,900,000,000.
The Debtors' exclusive period to file a plan ends on April 7,
2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Services Inc. http://bankrupt.com/newsstand/or
215/945-7000).
HOMEBANC CORP: HB Funding Amends Schedules of Assets and Debts
--------------------------------------------------------------
On Nov. 8, 2007, pursuant to Rule 1009(a) of the Federal
Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules
of Bankruptcy Practice and Procedure of the United States
Bankruptcy Court for the District of Delaware, HomeBanc Funding
Corp. amended Schedule F of its Schedules of Assets and
Liabilities.
HB Funding lists as $0 the total claim amounts of these
creditors:
-- Hiwot Mekonnen;
-- Kyiesha Shepard; and
-- Sharon Thompson.
Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation --
http://www.homebanc.com/-- is a mortgage banking company focused
on originating primarily prime purchase money residential mortgage
loans in the Southeast United States.
HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079
through 07-11084). Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them
in these cases. The Debtors' financial condition as of June 30,
2007, showed total assets of $5,100,000,000 and total liabilities
of $4,900,000,000.
The Debtors' exclusive period to file a plan ends on April 7,
2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Services Inc. http://bankrupt.com/newsstand/or
215/945-7000).
HOMEBANC CORP: HB Funding II Amends Schedules of Assets and Debts
-----------------------------------------------------------------
On Nov. 8, 2007, pursuant to Rule 1009(a) of the Federal
Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules
of Bankruptcy Practice and Procedure of the United States
Bankruptcy Court for the District of Delaware, HomeBanc Funding
Corp. II amended Schedule F of its Schedules of Assets and
Liabilities.
HB Funding II lists as $0 the total claim amounts of these
creditors:
-- Hiwot Mekonnen;
-- Kyiesha Shepard; and
-- Sharon Thompson.
Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation --
http://www.homebanc.com/-- is a mortgage banking company focused
on originating primarily prime purchase money residential mortgage
loans in the Southeast United States.
HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079
through 07-11084). Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them
in these cases. The Debtors' financial condition as of June 30,
2007, showed total assets of $5,100,000,000 and total liabilities
of $4,900,000,000.
The Debtors' exclusive period to file a plan ends on April 7,
2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Services Inc. http://bankrupt.com/newsstand/or
215/945-7000).
HOMEBANC CORP: HMB Corp. Amends Schedules of Assets and Debts
-------------------------------------------------------------
On Nov. 8, 2007, pursuant to Rule 1009(a) of the Federal
Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules
of Bankruptcy Practice and Procedure of the United States
Bankruptcy Court for the District of Delaware, HomeBanc Mortgage
Corporation amended Schedule F of its Schedules of Assets and
Liabilities.
HBMC lists as $0 the total claim amounts of these creditors:
-- Adam D. Rodes;
-- Alexander Wahab;
-- Alison Morgan Cockrill;
-- Bradford T. King;
-- Brent A. Davis;
-- Brian Bhala;
-- Craig Lemhalt;
-- Dennis Mozser;
-- Hiwot Mekonnen;
-- James David Lee, III;
-- Jennifer Byrd;
-- John D. Litras;
-- Joseph G. Clements, Jr.;
-- Karla M. Gil;
-- Kimberly Gilluly;
-- Kyiesha Shepard;
-- Mark V. Skelton;
-- Natalie A. Hixson;
-- Ralph Stephens;
-- Sharon Thompson;
-- Sheila Maxwell;
-- Steve Thompson;
-- Tasha White;
-- William B. Kirk;
-- William Grier Hixson; and
-- William T. Shirley.
Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation --
http://www.homebanc.com/-- is a mortgage banking company focused
on originating primarily prime purchase money residential mortgage
loans in the Southeast United States.
HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079
through 07-11084). Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them
in these cases. The Debtors' financial condition as of June 30,
2007, showed total assets of $5,100,000,000 and total liabilities
of $4,900,000,000.
The Debtors' exclusive period to file a plan ends on April 7,
2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Services Inc. http://bankrupt.com/newsstand/or
215/945-7000).
HOMEBANC CORP: HMB Acceptance Amends Schedules of Assets and Debts
------------------------------------------------------------------
On Nov. 8, 2007, pursuant to Rule 1009(a) of the Federal
Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules
of Bankruptcy Practice and Procedure of the United States
Bankruptcy Court for the District of Delaware, HMB Acceptance
Corp. amended Schedule F of its Schedules of Assets and
Liabilities.
HMB Acceptance lists as $0 the total claim amounts of these
creditors:
-- Hiwot Mekonnen;
-- Kyiesha Shepard; and
-- Sharon Thompson.
Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation --
http://www.homebanc.com/-- is a mortgage banking company focused
on originating primarily prime purchase money residential mortgage
loans in the Southeast United States.
HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079
through 07-11084). Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them
in these cases. The Debtors' financial condition as of June 30,
2007, showed total assets of $5,100,000,000 and total liabilities
of $4,900,000,000.
The Debtors' exclusive period to file a plan ends on April 7,
2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Services Inc. http://bankrupt.com/newsstand/or
215/945-7000).
HOMEBANC CORP: HMB Mortgage Amends Schedules of Assets and Debts
----------------------------------------------------------------
On November 8, 2007, pursuant to Rule 1009(a) of the Federal
Rules of Bankruptcy Procedure and Rule 1009-2 of the Local Rules
of Bankruptcy Practice and Procedure of the United States
Bankruptcy Court for the District of Delaware, HMB Mortgage
Partners, LLC, amended Schedule F of its Schedules of Assets and
Liabilities.
HMB Mortgage lists as $0 the total claim amounts of these
creditors:
-- Hiwot Mekonnen;
-- Kyiesha Shepard; and
-- Sharon Thompson.
Headquartered in Atlanta, Ga., HomeBanc Mortgage Corporation --
http://www.homebanc.com/-- is a mortgage banking company focused
on originating primarily prime purchase money residential mortgage
loans in the Southeast United States.
HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del. Case Nos. 07-11079
through 07-11084). Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them
in these cases. The Debtors' financial condition as of June 30,
2007, showed total assets of $5,100,000,000 and total liabilities
of $4,900,000,000.
The Debtors' exclusive period to file a plan ends on April 7,
2008. (HomeBanc Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Services Inc. http://bankrupt.com/newsstand/or
215/945-7000).
LEVITT & SONS: LAS Lake County Files Schedules of Assets & Debts
----------------------------------------------------------------
Levitt and Sons of Lake County LLC submitted to the U.S.
Bankruptcy Court for the Southern District of Florida its
schedules of assets and liabilities, disclosing:
A. Real Property $23,080,461
B. Personal Property
B.1 Cash on hand 0
B.2 Bank Accounts 0
B.3 Security Deposit - prepaid deposits 3,794
B.4 Household goods 0
B.5 Book, artwork and collectibles 0
B.6 Wearing apparel 0
B.7 Furs and jewelry 0
B.8 Firearms and other equipment 0
B.9 Insurance Policies 0
B.10 Annuities 0
B.11 Interests in an education IRA 0
B.12 Interests in pension plans 0
B.13 Stock and Interests 0
B.14 Interests in partnerships & joint venture 0
B.15 Government and corporate bonds 0
B.16 Accounts Receivable
Classic Pavers of Central Florida LLC 2,336
Clermont Security & Sound 2,537
Innovative Enterprises Central Florida 3,800
L & Jim Painting Inc Central Florida 6,089
Quality Concrete Central Florida 55,222
Real Stone & Granite Co Central Florida 6,519
Unltd Marble Central Florida 905
B.17 Alimony 0
B.18 Other Liquidated Debts Owing Debtor 0
B.19 Equitable or future interests 0
B.20 Interests in estate death benefit plan 0
B.21 Other Contingent and Unliquidated Claims 0
B.22 Patents 0
B.23 Licenses, franchises & other intangibles 0
B.24 Customer lists or other compilations 0
B.25 Vehicles 0
B.26 Boats, motors and accessories 0
B.27 Aircraft and accessories 0
B.28 Office Equipment 0
B.29 Equipment and Supplies for Business 0
B.30 Inventory 0
B.31 Animals 0
B.32 Crops 0
B.33 Farming equipment and implements 0
B.34 Farm supplies, chemicals and feed 0
B.35 Other Personal Property 0
TOTAL SCHEDULED ASSETS $23,161,663
=========================================================
C. Property Claimed as Exempt $0
D. Creditors Holding Secured Claims 103,859,044
E. Creditors Holding Unsecured Priority Claims 1,488,603
F. Creditors Holding Unsecured Non-priority Claims 2,383,727
Trade payable - M & N Construction Inc Central 237,947
Florida
Trade payable - Concepts in Greenery Inc. 189,919
Trade payable - Energy Air Inc Central Florida 153,162
Trade payable - Dewitt Excavating Inc. 92,774
Trade payable - Garrard Carpentry Inc. 85,060
Trade payable - Palmer Electric Co 78,072
Trade payable - V & V Const Svcs Inc. Central 67,950
Florida
Trade payable - others 1,161,321
Litigation - (contact information unknown) Undetermined
Litigation - FPL Fibernet LLC Undetermined
Litigation - Groveland Services LLC Undetermined
Retention - Palmer Electric Co 88,964
Retention - Garrard Carpentry Inc. 40,642
Retention - Swell Construction Co. 33,322
Retention - others 154,594
Commission Payables 0
TOTAL SCHEDULED LIABILITIES $107,731,374
=========================================================
Based in Fort Lauderdale, Florida, Levitt and Sons LLC --
http://www.levittandsons.com/-- is the homebuilding subsidiary of
Levitt Corporation (NYSE:LEV). Levitt Corp. --
http://www.levittcorporation.com/-- together with its
subsidiaries, operates as a homebuilding and real estate
development company in the southeastern United States. The
company operates in two divisions, homebuilding and land. The
homebuilding division primarily develops single and multi-family
homes for adults and families in Florida, Georgia, Tennessee, and
South Carolina. The land division engages in the development of
master-planned communities in Florida and South Carolina.
Levitt and Sons LLC and 38 of its homebuilding affiliates filed
for Chapter 11 protection on Nov. 9, 2007 (Bankr. S.D. Fla. Lead
Case No. 07-19845). Paul Singerman, Esq. and Jordi Guso, Esq., at
Berger Singerman, P.A., represent the Debtors in their
restructuring efforts. The Debtors chose AP Services, LLC as
their crisis managers, and Kurtzman Carson Consultants, LLC as
their claims and noticing agent.
Levitt Corp., the Debtors' parent company, did not file for
Chapter 11 protection.
The Debtors' latest consolidated financial condition as of
Sept. 30, 2007 reflect total assets of $900,392,000, and total
liabilities of $780,969,000.
The Debtors' exclusive period for filing a reorganization plan
ends March 8, 2008.
(Levitt and Sons Bankruptcy News, Issue No. 5; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000)
LEVITT & SONS: LAS Hawk Haven Files Schedules of Assets and Debts
-----------------------------------------------------------------
Levitt and Sons at Hawks Haven LLC submitted to the U.S.
Bankruptcy Court for the Southern District of Florida its
schedules of assets and liabilities, disclosing:
A. Real Property $9,600,331
B. Personal Property
B.1 Cash on hand 2,800
B.2 Bank Accounts 0
B.3 Security Deposit 0
B.4 Household goods 0
B.5 Book, artwork and collectibles 0
B.6 Wearing apparel 0
B.7 Furs and jewelry 0
B.8 Firearms and other equipment 0
B.9 Insurance Policies 0
B.10 Annuities 0
B.11 Interests in an education IRA 0
B.12 Interests in pension plans 0
B.13 Stock and Interests 0
B.14 Interests in partnerships & joint venture 0
B.15 Government and corporate bonds 0
B.16 Accounts Receivable
Capri Engineering Sw FI 337
Southern Building Prod Central Florida 660
B.17 Alimony 0
B.18 Other Liquidated Debts Owing Debtor 0
B.19 Equitable or future interests 0
B.20 Interests in estate death benefit plan 0
B.21 Other Contingent and Unliquidated Claims 0
B.22 Patents 0
B.23 Licenses, franchises & other intangibles 0
B.24 Customer lists or other compilations 0
B.25 Vehicles 0
B.26 Boats, motors and accessories 0
B.27 Aircraft and accessories 0
B.28 Office Equipment 0
B.29 Equipment and Supplies for Business 0
B.30 Inventory 0
B.31 Animals 0
B.32 Crops 0
B.33 Farming equipment and implements 0
B.34 Farm supplies, chemicals and feed 0
B.35 Other Personal Property 0
TOTAL SCHEDULED ASSETS $9,604,128
=========================================================
C. Property Claimed as Exempt 0
D. Creditors Holding Secured Claims $103,859,044
E. Creditors Holding Unsecured Priority Claims 877,173
F. Creditors Holding Unsecured Non-priority Claims
Trade payable - Coleman Floors Co Se FI 115,638
Trade payable - Gulf Western Roofing 64,563
Trade Payable - Juniper Landscaping Inc. 74,312
Trade payable - Pro Frame Cont Inc. 133,208
Trade payable - Jjr Construction Co 47,211
Trade payable - Melco Electric Inc. 44,397
Trade payable - Cox Lumber Co. 44,599
Trade payable - Distinctive Kitchens & Baths Inc. 33,457
Trade payable - Jim Carrigan Corp 26,833
Trade payable - Lawson Industries Inc. 23,240
Trade payable - Precision Drywall 43,894
Trade payable - Precast Wall Systems Inc. 36,760
Trade payable - Pool People West Inc. 30,414
Trade payable - Southern Living 24,105
Trade payable - Samsone Corp. 22,839
Trade payable - Royal Const Group Inc. 20,506
Trade payable - Carter Pritchett Advertising Inc. 17,540
Trade payable - Jade Home decor Inc. South Fl 17,444
Trade payable - Krieger Kitchens 16,555
Trade payable - Custom Plastering Inc. 16,135
Trade payable - International Marble Co. 15,245
Trade payable - Southern Building Products 15,089
Retention - Mitchell & Stark Const. 34,051
Others 250,836
TOTAL SCHEDULED LIABILITIES $105,840,703
=========================================================
Based in Fort Lauderdale, Florida, Levitt and Sons LLC --
http://www.levittandsons.com/-- is the homebuilding subsidiary of
Levitt Corporation (NYSE:LEV). Levitt Corp. --
http://www.levittcorporation.com/-- together with its
subsidiaries, operates as a homebuilding and real estate
development company in the southeastern United States. The
company operates in two divisions, homebuilding and land. The
homebuilding division primarily develops single and multi-family
homes for adults and families in Florida, Georgia, Tennessee, and
South Carolina. The land division engages in the development of
master-planned communities in Florida and South Carolina.
Levitt and Sons LLC and 38 of its homebuilding affiliates filed
for Chapter 11 protection on Nov. 9, 2007 (Bankr. S.D. Fla. Lead
Case No. 07-19845). Paul Singerman, Esq. and Jordi Guso, Esq., at
Berger Singerman, P.A., represent the Debtors in their
restructuring efforts. The Debtors chose AP Services, LLC as
their crisis managers, and Kurtzman Carson Consultants, LLC as
their claims and noticing agent.
Levitt Corp., the Debtors' parent company, did not file for
Chapter 11 protection.
The Debtors' latest consolidated financial condition as of
Sept. 30, 2007 reflect total assets of $900,392,000, and total
liabilities of $780,969,000.
The Debtor's exclusive period for filing a reorganization plan
ends March 8, 2008.
(Levitt and Sons Bankruptcy News, Issue No. 5; Bankruptcy
Creditors' Service Inc.; http://bankrupt.com/newsstand/or
215/945-7000)
VESTA INSURANCE: Gordon Gaines Files Oct. 2007 Operating Report
---------------------------------------------------------------
J. Gordon Gaines, Inc.
Income Statement
Month Ended October 31, 2007
Revenue from Total Sales $0
Less:
Cost of Sales 0
------------
Gross Profit 0
Less:
Operating Expenses (68,224)
------------
Net Profit Operations 68,224
Non-Operating Income (Expenses)
Interest Earned 1,866
State Tax Refunds 0
Non-operational income 59,034
Sale of Property 0
Stale Dated Checks Written Off 0
Miscellaneous Income 0
------------
Net Profit (Loss) $129,124
============
J. Gordon Gaines, Inc.
Schedule of Cash Receipts and Disbursements
Month Ended October 31, 2007
Cash On Hand (Beginning) $576,077
Cash Receipts:
Accounts Receivable 0
Management Fees 0
Loan Proceeds 0
Sale of Property 0
Interest Earned 1,866
State Tax Refunds
Non-operational Income 59,034
Funding by Texas Receiver 0
Funding under post confirmation 199,766
Intercompany insurance operations 0
Miscellaneous Income 0
------------
Total Receipts 260,666
Cash Disbursements:
Business Disbursements Form BA-02(B) 131,543
------------
Surplus Or Deficit 129,124
------------
Cash on Hand (End) $705,201
============
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. 29; 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, Joseph Medel C. Martirez, 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 ***