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         T R O U B L E D   C O M P A N Y   R E P O R T E R

           Thursday, December 6, 2007, Vol. 11, No. 289

                             Headlines


1031 TAX GROUP: Ch. 11 Trustee Hires R. Davenport as Consultant
1031 TAX GROUP: Ch. 11 Trustee Hires Deloitte as Financial Advisor
AFC ENTERPRISES: Board OKs Additional $50 Million Share Repurchase
AFC ENTERPRISES: J. Cranor Replaces F. Belatti as Board Chairman
AMERICAN HOME: Moody's Cuts Rating on Cl. IV-M-7 Certs. to B2

ARMANI INVESTMENT: Case Summary & 8 Largest Unsecured Creditors
ATHLETES WORLD: Forzani Group to Close 37 Stores
AVADO BRANDS: Can Employ Graves Seiffer et al. as Special Counsel
AVICENA GROUP: Sept. 30 Balance Sheet Upside-Down by $9,146,263
BALLANTYNE RE: Fitch Retains Neg. Watch on BB+ Rated Cl. B-1 Notes

BARNHILL'S BUFFET: Selling 21 Restaurants to Star Buffet
BARONET USA INC: Chapter 15 Petition Summary
BEAR STEARNS: Moody's Downgrades Ratings on 59 Tranches
BLAST ENERGY: Plan Confirmation Hearing Moved to January 30
BRIGHTPOINT INC: Appoints Three Executive Officers

BROADHOLLOW FUNDING: Moody's Junks Rating on Subordinated Notes
BARNHILL'S BUFFET: Case Summary & 20 Largest Unsecured Creditors
CA INC: Paying $0.04 Per Share Quarterly Dividend on December 28
CALPINE CORP: Can Abandon Claims of Less than $1 Million
CAPITAL POINTE: Case Summary & 1 Largest Unsecured Creditor

CARRINGTON LABS: Posts $2.2 Million Net Loss in Third Quarter
CBRL GROUP: Paying $0.18/Share Regular Dividend on February 5
CELL THERAPEUTICS: Gets $6.5 Mil. from 7% Preferred Stock Sale
CHINA YILI: Posts $15,808 Net Loss in Third Quarter
CLAYTON HOLDINGS: May Take $100MM Impairment Charge in 4th Quarter

CLEAR CHANNEL: Paying $0.1875/Share Cash Dividend on January 15
CMS ENERGY: Terminated Deal Won't Affect Fitch's "BB+" Rating
COLLIN PORTERFIELD: Voluntary Chapter 11 Case Summary
COLUMBIA AIRCRAFT: Bridge Associates OK'd as Restructuring Advisor
COLUMBIA AIRCRAFT: Taps ING Fin'l. as Investment Banker & Advisor

COMMSCOPE INC: Sees Positive 2007 Fourth Quarter Results
CORD BLOOD: Sept. 30 Balance Sheet Upside-Down by $4.1 Million
CREDIT SUISSE: Fitch Junks Rating on Class B-7 Certificates
CSFB HOME: Moody's Lowers Ratings on 36 Certificate Classes
DB ISLAMORADA: Case Summary & 16 Largest Unsecured Creditors

DELPHI CORP: Gets Committees' Support on Plan Amendments
DIMITRIOUS THERIANOS: Case Summary & 17 Largest Unsec. Creditors
DOREEN MEEKS: Case Summary & 14 Largest Unsecured Creditors
DRESSER-RAND GROUP: Implements Terms of New Union Contract
DRESSER-RAND: Employees Back to Work at Painted Post Facility

DUNMORE HOMES: Obtains Interim Ok to Hire A&M as Financial Advisor
DUNMORE HOMES: 4 More Creditors Seek Case Transfer to California
DUNMORE HOMES: Wants to Sell 161 Acres of Sacramento Real Estate
DVI RECEIVABLES: Fitch Withdraws Ratings on S. 1999-2 Notes
FAIRFAX FINANCIAL: Buys CanWest Global's 1.8 Mil. Voting Shares

FAIRVIEW PARK: Case Summary & 20 Largest Unsecured Creditors
FAMILY ROOM: Sept. 30 Balance Sheet Upside-Down by $2.9 Million
FEDERAL GYPSUM: Minister MacIsaac Wary of Additional Investment
FEDERAL-MOGUL: Court Dismisses 75 Chapter 11 Cases
FIRST FRANKLIN: Fitch Takes Rating Actions on Various Classes

FIRST FRANKLIN: Fitch Cuts Ratings to BB on Four Cert. Classes
FIRST FRANKLIN: Moody's Junks Ratings on 10 Cert. Classes
FIRST UNION: Stable Performance Cues Fitch to Affirm Ratings
FORD MOTOR: November 2007 Truck Sales in Canada Up 3 Percent
GABRIEL GUERRERO: Case Summary & 11 Largest Unsecured Creditors

GARY BURIVAL: Case Summary & 27 Largest Unsecured Creditors
GENERAL MOTORS: Bidding for Undisclosed Stake in OAO AvtoVAZ
GLOBAL CASH: Internal Probe Delays Filing of Quarterly Report
GLOBAL POWER: Wants Removal Period Extended to Plan Effective Date
GLOBAL VISION: Court OKs Appointment of Examiner in Ch. 11 Case

GMAC LLC: Financial Unit Names Samuel Ramsey as Chief Risk Officer
GOODYEAR TIRE: Board OKs Plan to Keep World Headquarters in Akron
GREENBELT CT: U.S. Trustee Unable to Appoint Creditors Committee
GREENBELT CT: Wants to Hire Grossberg Company as Accountants
GS MORTGAGE: Fitch Junks Ratings on Three Certificate Classes

GS MORTGAGE: Fitch Lowers Rating on $2.5MM Certs. to B from BBB
GSAA HOME: Moody's Cuts Rating on Cl. I-M-4 Trusts to B2 from Ba3
GSAMP TRUST: Low Credit Enhancement Cues Moody's to Cut Ratings
GSAMP TRUST: Moody's Downgrades Ratings on 36 Tranches
HALL'S QUALITY: Case Summary & 15 Largest Unsecured Creditors

HAWAIIAN AIRLINES: Mesa Air Posts $90 Million Bond
HAZEL POINTE: Voluntary Chapter 11 Case Summary
HIDDEN SPLENDOR: Committee Hires Edmond Miller as Special Counsel
HOLOGIC INC: Mulls Offering of $1.3 Bil. Convertible Senior Notes
HOUGHTON MIFFLIN: Inks $750MM Buyout Deal with Cengage Learning

HUB INTERNATIONAL: Agrees To Combine with HKMB International
IDO SECURITY: Posts $5,114,043 Net Loss in Third Quarter
IMPAC MORTGAGE: Gets NYSE Notice on Stock Price Non-Compliance
INDYMAC HOME: Moody's Slices Rating on Class M-4 Certs. to B2
INTERSTATE HOTELS: Inks $207.8 Million Venture with Harte Holdings

JAMES SAUNDERS: Case Summary & 18 Largest Unsecured Creditors
JAYS FOODS: Court OKs $24.8 Mil. BuyOut Pact With Jays Acquisition
JOCKEYS' GUILD: Industry Participants Say Assistance is Unlikely
KNOLL INC: Paying $0.12/Share Cash Dividend on December 28
L TERSIGNI: U.S. Trustee Wants Case Converted to Chapter 7

LEFT BEHIND: Sept. 30 Balance Sheet Upside-Down by $1,219,428
LODGENET ENTERTAINMENT: Board OKs $15 Million Stock Repurchase
MBIA INC: Shrinks Hudson Thames SIV to $400 Million
MBS-THE TRAILS: Voluntary Chapter 11 Case Summary
MBS MANAGEMENT: Case Summary & 194 Largest Unsecured Creditors

MERRILL LYNCH: Fitch Holds 'BB-' Rating on Class B-5 Certs.
MERRILL LYNCH: Moody's Lowers Rating on Class B-2 Certs. to B3
MID ATLANTIC RETAIL: Case Summary & 20 Largest Unsecured Creditors
MONITOR OIL: Bondholders Want Chapter 11 Case Dismissed
MORGAN STANLEY: Moody's Lowers Ratings on Two Cert. Classes to Ba2

MORGAN STANLEY: Moody's Downgrades Ratings on 77 Tranches
MULBERRY STREET: Poor Credit Quality Cues Moody's Ratings Review
MULBERRY STREET: Moody's Junks Rating on $30MM Class B Notes
NASDAQ STOCK: Qatar Holding Withdraws from OMX AB Bidding Race
NATIXIS REAL: Moody's Lowers Ratings on Seven Tranches

NEW CENTURY: Asks Court to Extend Exclusivity Period to Dec. 28
NEW CENTURY: Asks Court to Maintain 1st Examiner Report Under Seal
NEW CENTURY: IRS Opposes Debtors' Motion for Automatic Stay
NOMURA HOME: Moody's Cuts Ratings on Two Classes to B1
NOVASTAR FINANCIAL: Wachovia Waiver to Expire Tomorrow

NOVASTAR FINANCIAL: NYSE Wants Explanation on Stock Price Jump
NOVASTAR MORTGAGE: Moody's Cuts Rating on Cl. M-8 to B1 from Baa2
NUTRITIONAL SOURCING: Exclusive Plan Filing Date Moved to Mar. 3
OKWARA PROPERTIES: Voluntary Chapter 11 Case Summary
ORLANDO CITYPLACE: Asset Sale Hearing Scheduled on December 20

OWNIT MORTGAGE: Moody's Junks Ratings on Four Certificate Classes
PACIFIC HOTEL: Case Summary & 19 Largest Unsecured Creditors
PATMAN DRILLING: Given Interim OK to Employ Pronske as Counsel
PATMAN DRILLING: Committee Wants to Hire Cox Smith as Counsel
PAUL DUKE: Voluntary Chapter 11 Case Summary

QUEBECOR MEDIA: Issues Statement Regarding Spectrum Auction
RAVELSTON CORP: Fined $7MM for Fraud; Must Pay $6MM in Restitution
RAYMOND MIRELEZ: Case Summary & Five Largest Unsecured Creditors
REDDY ICE: Board Appoints William P. Brick as CEO and President
RESIDENTIAL ACCREDITED: Fitch Cuts Ratings on 47 Cert. Classes

REVLON CONSUMER: Note Repayment Cues Moody's to Hold Ratings
RH DONNELLEY: $100MM Stock Repurchase Won't Affect Fitch's IDR
ROBERTO REYNA: Case Summary & 17 Largest Unsecured Creditors
RURAL TEXAS: Voluntary Chapter 11 Case Summary
SACO I: Moody's Downgrades Ratings on 65 Certificate Classes

SAINT CATHERINE: Case Summary & 13 Largest Unsecured Creditors
SALANDER-O'REILLY: U.S. Trustee Wants Ch. 11 Trustee Appointed
SERENA POINT: Snobs Bank's Foreclosure Sale by Filing Chapter 7
SHAW GROUP: Expects $19 Million Net Loss for Fiscal Year 2007
SINOBIOMED INC: Sept. 30 Balance Sheet Upside-Down by $6.2 Million

SKATING CLUBS: Case Summary & Nine Largest Unsecured Creditors
SOUNDVIEW HOME: Moody's Slices Rating on Cl. M-2 Certs. to Ba1
ST BERNARD: Sept. 30 Balance Sheet Upside-Down by $4.0 Million
STEVEN SMITH: Voluntary Chapter 11 Case Summary
STILLWATER MINING: Weak Performance Cues Moody's to Cut Rating

STRUCTURED ASSET: Moody's Lowers Ratings on 37 Certificates
SUMMERDALE PARTNERS: Case Summary & 41 Largest Unsecured Creditors
SWEET TRADITIONS: Wants to Employ Ice Miller as Special Co-Counsel
TERWIN MORTGAGE: Moody's Puts Seven Cert. Classes Under Review
TIAA CMBS: Fitch Affirms Low-B Ratings on Three Cert. Classes

TM GROUP: Case Summary & Largest Unsecured Creditor
TRANSLAND FIN'L: Two Banks Seek Dismissal of Involuntary Case
UNISYS CORP: Fitch Rates Proposed $250MM Debt Offering at BB-
UNISYS CORP: Moody's Rates $250MM Sr. Unsecured Notes at B2
WASH BUCKET: Case Summary & 18 Largest Unsecured Creditors

WATERFORD EQUITIES: Case Summary & 50 Largest Unsecured Creditors
WILLIAM MILLS: Case Summary & 16 Largest Unsecured Creditors
WORKFLOW MANAGEMENT: Moody's Places Ratings Under Review

* Debtwire and Guiliani See Credit Decline Will Continue to 2008

* Fitch Says 2008 Wireless Industry Will Be Similar to 2007
* Fitch Says Auto Suppliers Will Face The Same Stresses in 2008
* Fitch Says Slow Economic Growth Could Pressure U.S. Auto Sales

* Moody's Says 2007 Holiday Retail Season Will Be Competitive
* Moody's Publishes a Summary of Ratings on Alt-A RMBS
* Moody's Says Sudden Departure of CEO Reveals Weakness in Firm
* Moody's Says Report on Filing Under Section 404 Shows Problems
* Moody's Monitors the Liquidity of Florida's Universities

* Chapter 11 Cases with Assets & Liabilities Below $1,000,000


                             *********

1031 TAX GROUP: Ch. 11 Trustee Hires R. Davenport as Consultant
---------------------------------------------------------------
The United States Bankruptcy Court for the Southern District of
New York has granted Gerard A. McHale Jr., the Chapter 11 Trustee
in 1031 Tax Group LLC and its debtor-affiliates' bankruptcy cases,
authority to retain Robert Davenport as his financial and real
estate consultant, nunc pro tunc to Nov. 12, 2007.

Mr. Davenport is expected to:

  (i) provide advice necessary to assist the Trustee in his
      efforts to refinance and/or liquidate assets controlled or
      owned, directly or indirectly, by the Debtors;

(ii) assist the Trustee in the day-to-day coordination of
      the Trustee's professionals relating to the Debtors' real
      estate assets;

(iii) negotiate with potential purchasers and investors in the
      disposition of such real estate assets;

(iv) provide testimony regarding real estate matters as may be
      requested by the Trustee, and

  (v) performing such additional necessary services as may be
      required by the Trustee in his carrying out his statutory
      duties.

Mr. Davenport assures the Court that he does not hold or represent
any interest adverse to the Trustee, the Debtors or their
creditors with respect to the matters upon which he is to be
engaged, and that he is a "disinterested person" as that term is
defined in Sec. 101(14) of the Bankruptcy Code.

Mr. Davenport will charge $150 per hour for his services.

Headquartered in Richmond, Virginia, The 1031 Tax Group LLC --
http://www.ixg1031.com/-- is a privately held consolidated group
of qualified intermediaries created to service real property
exchanges under Section 1031 of the Internal Revenue Code.  The
company and 15 of its affiliates filed for Chapter 11 protection
on May 14, 2007 (Bankr. S.D.N.Y. Case No. 07-11447 through
07-11462).  Paul Traub, Esq., Norman N. Kinel, Esq., and Steven E.
Fox, Esq., at Dreier LLP, represent the Debtors in their
restructuring efforts.  The Debtors selected Kurtzman Carson
Consultants LLC as their claims agent.  Thomas J. Weber, Esq.,
Melanie L. Cyganowski, Esq., and Allen G. Kadish, Esq., at
Greenberg Traurig, LLP, represent the Official Committee of
Unsecured Creditors.  As of Sept. 30, 2007, the Debtors had total
assets of $164,231,012 and total liabilities of $168,126,294,
resulting in a total stockholders' deficit of $3,895,282.

Gerard A. McHale, Jr., was appointed as the Debtors' Chapter 11
trustee on Oct. 25, 2007.  Jonathan L. Flaxer, Esq., at Golenbock
Eiseman Assor Bell & Peskoe LLP represents Mr. McHale.


1031 TAX GROUP: Ch. 11 Trustee Hires Deloitte as Financial Advisor
------------------------------------------------------------------
The United States Bankruptcy Court for the Southern District of
New York gave Gerard A. McHale Jr., the Chapter 11 Trustee for
1031 Tax Group LLC and its debtor-affiliates, authority to
employ Deloitte Financial Advisory Services LLP as his financial
advisor, nunc pro tunc to Nov. 2, 2007.

The firm will:

   a) assist the Trustee in the development of real estate
      appraisals, real estate financing and marketing materials;

   b) assist the Trustee with the identification, recovery and
      realization of the Debtors' assets;

   c) assist the Trustee in the negotiation and development of
      distribution plans and plans of reorganization and
      liquidation;

   d) review the Debtor's liquidity and assist the Trustee in the
      assessment of cash funding requirements;

   e) assist the Trustee in connection with the inventory and
      security of the Debtor's records and assets;

   f) assist the Trustee in connection with the tracing of fund
      flows and asset movement;

   g) assist the Trustee in the development of periodic reports
      and other communications to creditors, the Bankruptcy Court
      and other interested parties;

   h) assist the Trustee in the reconciliation of claims and
      resolution of related disputes;

   i) attend and participate in meetings in an advisory capacity
      relating to matters within the scope of the firm's services;

   j) assist the Trustee in analyzing various causes of action;
      and

   k) provide testimony with respect to any related matters.

The firm's professionals will be paid at these hourly rates:

      Partner, Principal, Director            $660
      Senior Manager                          $480
      Manager                                 $400
      Senior Consultants                      $300
      Staff                                   $265

John P. Sordillo, a partner at the firm, assured the Court that
his firm is a "disinterested person" as that term is defined in
Sec. 101(14) of the Bankruptcy Code.

Headquartered in Richmond, Virginia, The 1031 Tax Group LLC --
http://www.ixg1031.com/-- is a privately held consolidated group
of qualified intermediaries created to service real property
exchanges under Section 1031 of the Internal Revenue Code.  The
company and 15 of its affiliates filed for Chapter 11 protection
on May 14, 2007 (Bankr. S.D.N.Y. Case No. 07-11447 through
07-11462).  Paul Traub, Esq., Norman N. Kinel, Esq., and Steven E.
Fox, Esq., at Dreier LLP, represent the Debtors in their
restructuring efforts.  The Debtors selected Kurtzman Carson
Consultants LLC as their claims agent.  Thomas J. Weber, Esq.,
Melanie L. Cyganowski, Esq., and Allen G. Kadish, Esq., at
Greenberg Traurig, LLP, represent the Official Committee of
Unsecured Creditors.  As of Sept. 30, 2007, the Debtors had total
assets of $164,231,012 and total liabilities of $168,126,294,
resulting in a total stockholders' deficit of $3,895,282.

Gerard A. McHale, Jr., was appointed as the Debtors' Chapter 11
trustee on Oct. 25, 2007.  Jonathan L. Flaxer, Esq., at Golenbock
Eiseman Assor Bell & Peskoe LLP represents Mr. McHale.


AFC ENTERPRISES: Board OKs Additional $50 Million Share Repurchase
------------------------------------------------------------------
AFC Enterprises Inc.'s Board of Directors has approved an increase
in the company's share repurchase program by an additional
$50 million, effective immediately.

The program, which is open-ended, allows the company to repurchase
its shares on the open market from time to time in accordance with
the requirements of the Securities and Exchange Commission.

During fiscal year 2007 through Nov. 2, 2007, the company has
repurchased more than 2.1 million shares of common stock for
approximately $35.2 million.  This expanded multi-year program is
subject to the limitations of the company's outstanding credit
facility.

Under those limitations, the company has the ability to repurchase
approximately $17.3 million of additional shares during the
remainder of fiscal year 2007.  As of Nov. 2, 2007, approximately
27.7 million shares of the company's common stock were
outstanding.

                   About AFC Enterprises Inc.

Headquartered in Atlanta, Georgia, AFC Enterprises Inc. --
http://www.afce.com/-- owns, operates and franchises Popeyes
Chicken & Biscuits quick service restaurants.  As of July 15,
2007, AFC owned and operated 61 restaurants and franchised 1,817
restaurants in 44 states, the District of Columbia, Puerto Rico,
Guam and 23 foreign countries.  The Popeyes concept features a New
Orleans Cajun-style menu, with regional items such as spicy fried
chicken pieces, chicken sandwiches and strips, fried shrimp,
jambalaya and red beans & rice.

                          *     *     *

As reported in the Troubled Company Reporter on Sept. 26, 2007,
Moody's Investors Service changed AFC Enterprises Inc.'s  rating
outlook to stable from positive.  Concurrently, Moody's affirmed
all the debt ratings of AFC, including its B1 corporate family
rating and probability of default rating at B2, while upgrading
the senior secured credit facilities rating to Ba3 from B1.


AFC ENTERPRISES: J. Cranor Replaces F. Belatti as Board Chairman
----------------------------------------------------------------
Frank J. Belatti has retired as AFC Enterprises Inc.'s chairman of
the board of directors.  The company has appointed John M. Cranor
as new chairman.

Mr. Belatti founded AFC Enterprises in 1992 and served as the CEO
of AFC from 1992-2005.  Mr. Belatti was instrumental in the growth
of AFC's portfolio of brands, its initial public offering in March
2001, and the subsequent strategic divestitures of the company's
Church's Chicken, Cinnabon and Seattle Coffee Company brands,
leading to its current stand alone ownership of Popeyes Chicken &
Biscuits.

Mr. Belatti will assume a full time role as managing partner,
Equicorp Partners LLC, an Atlanta based investment firm.
Mr. Belatti also serves as an adjunct professor at the Mendoza
College of Business at the University of Notre Dame where he
teaches Microventuring, as part of the Gigot Center Social
Entrepreneurship Initiative.

John M. Cranor, a member of the AFC board since November of 2006,
has been appointed to succeed Mr. Belatti as chairman of the AFC
board of directors.  Mr. Cranor served as chairman, president and
chief executive officer of Long John Silver's Restaurants Inc., a
position he held from 1996- 1999.

Prior to that, Mr. Cranor was president and chief executive
officer of KFC Corporation from 1989-1994.  Mr. Cranor has more
than 30-years of management experience in the food service and
retail industries including senior executive positions with Pepsi-
Cola North America, Taco Bell Corporation, Wilson Sporting Goods,
and Frito-Lay Company.

Since 2003, Mr. Cranor has also served as the president and chief
executive officer of the New College Foundation, affiliated with
New College of Florida in Sarasota.  Mr. Cranor holds a Bachelor's
of Arts degree from New College of Florida and a Master's of
Business Administration from Harvard University.

"After 15 years building a successful enterprise, I will miss AFC,
especially all the wonderful and talented people throughout the
organization," Mr. Frank Belatti stated.  "I am proud to have John
as our new Chairman.  John is a highly regarded leader with
substantial experience in the food industry.  His expertise in our
quick service sector will be of great benefit to the Popeyes
brand.  We have great confidence in his ability to work with our
new CEO, Cheryl Bachelder, to lead the company to future growth."

                    About AFC Enterprises Inc.

Headquartered in Atlanta, Georgia, AFC Enterprises Inc. --
http://www.afce.com/-- owns, operates and franchises Popeyes
Chicken & Biscuits quick service restaurants.  As of July 15,
2007, AFC owned and operated 61 restaurants and franchised 1,817
restaurants in 44 states, the District of Columbia, Puerto Rico,
Guam and 23 foreign countries.  The Popeyes concept features a New
Orleans Cajun-style menu, with regional items such as spicy fried
chicken pieces, chicken sandwiches and strips, fried shrimp,
jambalaya and red beans & rice.

                         *     *     *

As reported in the Troubled Company Reporter on Sept. 26, 2007,
Moody's Investors Service changed AFC Enterprises Inc.'s  rating
outlook to stable from positive.  Concurrently, Moody's affirmed
all the debt ratings of AFC, including its B1 corporate family
rating and probability of default rating at B2, while upgrading
the senior secured credit facilities rating to Ba3 from B1.


AMERICAN HOME: Moody's Cuts Rating on Cl. IV-M-7 Certs. to B2
-------------------------------------------------------------
Moody's Investors Service has downgraded three certificates from a
transaction issued by American Home Mortgage Investment Trust.
The transaction is backed by second lien loans.  The certificates
were downgraded because the bonds' credit enhancement levels,
including excess spread, subordination, and overcollateralization,
were too low compared to the current projected loss numbers at the
previous rating levels.

Complete rating actions are:

Issuer: American Home Mortgage Investment Tr 2006-3

  -- Cl. IV-M-7, Downgraded to B2 from Ba2
  -- Cl. IV-M-8, Downgraded to Ca from Ba3
  -- Cl. IV-M-9, Downgraded to C from B3


ARMANI INVESTMENT: Case Summary & 8 Largest Unsecured Creditors
---------------------------------------------------------------
Lead Debtor: Armani Investment Inc.
             6990 E. 22nd Street, Suite 110-168
             Tucson, AZ 85710

Bankruptcy Case No.: 07-02453

Chapter 11 Petition Date: December 3, 2007

Court: District of Arizona (Tucson)

Judge: James M. Marlar

Debtor's Counsel: Eric Slocum Sparks, Esq.
                  Eric Slocum Sparks PC
                  110 S. Church Ave #2270
                  Tucson, AZ 85701
                  Tel: 520-623-8330
                  Fax: 520-623-9157
                  http://www.ericslocumsparkspc.com/

Estimated Assets: $1 million to $100 million

Estimated Debts:  $1 million to $100 million

Debtor's Eight Largest Unsecured Creditors:

   Entity                Nature of Claim           Claim Amount
   ------                ---------------           ------------
GMAC Mortgage            real property; value         $940,000
P.O. BOX 4622            of security: $8000,000
Waterloo, IA 50704

EMC Mortgage Ccorp.      real property; value         $631,000
P.O. BOX 293150          of security: $800,000;
Lewisville, TX 75029     value of senior
                         lien: $504,000

Casa Loma, LLC           real property; value of      $135,000
                         of senior lien: $631,000

Wells Fargo              Real Property; value of      $117,197
P O BOX 2908             of security: $800,000;
Phoenix, AZ 85062        value of senior
                         lien: $940,000

Bank of America          credit card                   $33,414


Desert Valley Builders   trade debt                    $12,500

Planning Center          trade debt                     $8,000

J. Crockett, Assoc.      trade debt                    unknown
LLC


ATHLETES WORLD: Forzani Group to Close 37 Stores
------------------------------------------------
The Forzani Group Ltd. disclosed that it plans to close 37 of
Athletes World's 138 stores, Lauren Krugel of The Canadian Press
reports.  Citing Forzani CEO Bill Gregson, Canadian Press relates
that the stores to be closed are those that have been continuing
to incur losses.

The 37 stores to be shut down are mainly located at areas where
Forzani operates its own banners.

As previously reported in the Troubled Company Reporter, Athletes
World filed for protection from its creditors under the Companies'
Creditors Arrangement Act with the Ontario Superior Court of
Justice on Oct. 30, 2007.

Forzani, on Nov. 30, 2007, completed its acquisition of Athletes
World.  Canadian Press reports, citing Forzani CEO Bob Sartor,
that Forzani will pay $1.5 million for Athletes' shares and assume
$20 million in secured debt.

Mr. Sartor however declared that the acquisition of Athletes World
was more of "defensive" rather than "offensive," Canadian Press
adds.

                    About The Forzani Group

The Forzani Group Ltd. (TSX: FGL) -- http://www.forzanigroup.com/
is Canada's largest national retailer of sporting goods, offering
a comprehensive assortment of brand-name and private-brand
products, operating stores from coast to coast, under corporate
banners: Sport Chek, Coast Mountain Sports, Sport Mart, National
Sports and Hockey Experts.  The company also retails on-line at
-- http://www.sportmart.ca-- and provides a content rich sporting
goods information site at -- http://www.sportchek.ca--  The
Forzani Group is also a franchisor under the banners: Sports
Experts, Intersport, Econosports, Atmosphere, Tech Shop, Pegasus,
The Fitness Source and Nevada Bob's Golf.

                       About Athletes World

Headquartered in Ontario, Athletes World Ltd. is a shoe retailer
with over 100 stores in Canada.  It is the only remaining Canadian
retailer unit of Bata Ltd., -- http://www.bata.com/-- a privately
owned global shoe manufacturer and retailer.  Bata is led by a
third generation of the Bata family.  With operations in 68
countries, Bata is organized into four business units.  Bata
Canada, based in Toronto, serves the Canadian market with 250
stores.  Based in Paris, Bata Europe serves the European market
with 500 stores.  With supervision located in Singapore, Bata
International has 3,000 stores to serve markets in Africa, the
Pacific, and Asia, Finally, Bata Latin America, operating out of
Mexico City, sells footwear throughout Latin America.  Bata owns
more than 4,700 retail stores and 46 production facilities.  Total
employment for the company exceeds 50,000.


AVADO BRANDS: Can Employ Graves Seiffer et al. as Special Counsel
-----------------------------------------------------------------
Avado Brands Inc. and its debtor-affiliates obtained permission
from the U.S. Bankruptcy Court for the District of Delaware to
employ four law firms as their special counsel, nunc pro tunc to
Sept. 5, 2007.

The law firms and their principal attorneys include:

   1) Graves Seiffert, P.A.

      -- Jennings L. Graves, Jr., Esq.;

   2) The Gilreath Law Firm, P.A.

      -- James R. Gilreath, Esq.;

   3) McCutchen, Blanton, Johnson & Barnette, LLP

      -- T. English McCutchen, Esq.
      -- L. Susan Foxworth, Esq.; and

   4) the Law Office of Myles E. Eastwood, Esq.

These law firms are expected to:

   a) provide legal advice with respect to the Debtors' class
      action suit against KPMG, LLP, concerning a dispute over
      implementation of tax strategies;

   b) preaper necessary motions, applications, complaints,
      answers, declarations, order, counterclaims, affidavits,
      reports, and other legal papers relating to the KPMG
      Litigation and other related matters;

   c) correspond and negotiate with the parties to the KPMG
      Litigation;

   d) appear, to the extent required, in couirt or before the
      applicable administrative or governing entity to protect
      the Debtors' interest relating to the KPMG Litigation; and

   e) perform all other legal services for the Debtors that may
      be necessary and appropriate.

Each of the law firms agreed to receive a contingency fee from the
Debtors upon a successful resolution of the KPMG Litigation.

To the best of the Debtors' knowledge, none of the four firms
represent or hold any interest adverse to the Debtors or their
estates, or have any connection with the Debtors, creditors, or
other parties-in-interest.

                       About Avado Brands

Madison, Georgia-based Avado Brands Inc., aka Applesouth, --
http://www.avado.com/-- operates about 120 casual dining
restaurants under the banners Don Pablo's Mexican Kitchen and Hops
Grillhouse & Brewery.  The restaurants are located in 22 states in
the U.S.  As of Sept. 5, 2007, the Debtors employed about 9,970
people.  For the year ended July 31, 2007, the Debtors generated
about $227.8 million in revenues and a negative EBITDA of
$7.8 million.

The Debtor filed for chapter 11 protection on Feb. 4, 2004 (Bankr.
N.D. Tex. Case No. 04-1555).  On April 26, 2005, Judge Steven
Felsenthal confirmed Avado's Modified Plan of Reorganization and
that Plan became effective on May 19, 2005.

On Sept. 5, 2007, Avado filed a voluntary chapter 22 petition
(Bankr. D. Del. Case No. 07-11276) to complete an orderly sale of
its assets, via Section 363 of the Bankruptcy Code.  About 10 of
Avado's affiliates also filed for bankruptcy protection on the
same date (Bankr. D. Del. Case Nos. 07-11277 through 07-11286).

Michael Tuchin, Esq., and Stacia A. Neeley, Esq., at Klee, Tuchin,
Bogdanoff & Stern LLP, represent the Debtors.  Donald J.
Detweiler, Esq., at Greenberg Traurig, LLP, is the Debtors' local
counsel.  Kurtzman Carson Consultants LLC acts as the Debtors
claims and noticing agent.  In their second filing, the Debtors
disclosed estimated assets and debts between $1 million to
$100 million.

Scott L Hazan, Esq., at Otterbourg, Steindler, Houston & Rosen,
P.C.; and David B. Stratton, Esq., at Pepper Hamilton LLP,
represent the Official Committee of Unsecured Creditors.


AVICENA GROUP: Sept. 30 Balance Sheet Upside-Down by $9,146,263
---------------------------------------------------------------
Avicena Group Inc.'s consolidated balance sheet at Sept. 30, 2007,
showed $2,633,623 in total assets, $5,395,597 in total
liabilities, and $6,384,289 in convertible preferred stock,
resulting in a $9,146,263 total stockholders' deficit.

At Sept. 30, 2007, the company's consolidated balance sheet showed
$2,616,436 in total current assets available to pay $2,927,016 in
total current liabilities.

The company reported a net loss of $205,692 on revenue of $88,608
for the third quarter ended Sept. 30, 2007, compared with a net
loss of $2,054,565 on revenue of $132,190 in the corresponding
period in 2006.

Results for the third quarter ended Sept. 30, 2007, includes non-
cash gains of $4,140,798 to mark-to-market the warrant liabilities
associated with its April 2006 convertible promissory note,
warrants to GP Group for investment banking services and warrants
issued in connection with the sale of its Series A, B and C
preferred stock.

The 33% revenue decrease versus the 2006 period was primarily due
to the unusually strong demand by Estee Lauder in the 2006 period.
This trend was not repeated in the three months ended Sept. 30,
2007.

Total general and administrative expenses increased to $1,355,570
in the three month period ending Sept. 30, 2007, from $514,472 in
the comparable 2006 period.

Interest expense increased to $2,119,631 during the three month
period ended Sept. 30, 2007, versus $609,927 in the corresponding
2006 period.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?260c

                       Going Concern Doubt

Vitale, Caturano & Company Ltd., in Boston, expressed substantial
doubt about Avicena Group Inc.'s ability to continue as a going
concern after auditing the company's consolidated financial
statements as of the years ended Dec. 31, 2006, and 2005.  The
auditing firm pointed to the company's significant operating
losses and accumulated deficit.

                       About Avicena Group

Headquartered in Palo Alto, Calif., Avicena Group Inc. (OTC BB:
AVGO.OB) -- http://www.avicenagroup.com/ -- is a late-stage
biotechnology company that develops central nervous system
therapeutics for neurodegenerative diseases.  The company's core
technologies have broad applications in both pharmaceuticals and
dermaceuticals.  Avicena's pharmaceutical program centers on rare
neurological disorders.  Unlike traditional biotechnology
companies, Avicena's clinical programs are largely funded by
government and non-profit organizations.  Avicena presently
derives revenue from the sale of proprietary dermaceutical
ingredients to skin care manufacturers.


BALLANTYNE RE: Fitch Retains Neg. Watch on BB+ Rated Cl. B-1 Notes
------------------------------------------------------------------
Ballantyne Re Plc remains on Rating Watch Negative by Fitch
Ratings following the announcement that Ballantyne Re reduced to
zero the outstanding principal on $25.4 million of class C-1
subordinated variable interest rate notes and $170 million of its
class C-2 subordinated variable interest rate notes plus all
accrued and outstanding interest.

The class C-1 and C-2 note holders are deemed to have forfeited
all rights thereto.  The write downs are permitted by the terms of
the indenture which allow Ballantyne to write down a sufficient
amount of class C notes to restore Irish statutory surplus to $7
million.

These ratings remain on Rating Watch-Negative by Fitch:

  -- $250,000,000 class A-1 floating-rate notes, 'A+';
  -- $10,000,000 class B-1 subordinated notes, 'BB+';
  -- $40,000,000 class B-2 subordinated floating-rate notes,
     'BB+'.

The 'AAA' ratings of Ballantyne Re's class A-2 and A-3 floating-
rate guaranteed notes are not affected because those ratings are
linked to the financial strength of the relevant financial
guarantors.

Certain reserve funds that support the Ballantyne Re transaction
have material exposure to subprime residential asset- and
mortgage-backed securities that have experienced significant
market value declines over the past few months.  Subprime
residential ABS/MBS are in the midst of a significant market
dislocation due to liquidity constraints and deteriorating credit
fundamentals.  As a result, the subprime residential ABS/MBS
securities market has experienced ratings downgrades and mark-to-
market losses.  The decline in market values has continued since
Aug. 14, 2007 when Fitch originally placed the notes on Rating
Watch Negative.  Further, interest payments to the Ballantyne Re
class B-1 and class B-2 notes was suspended, in accordance with
the terms of the indenture, on Sept. 4, 2007.

Following the write downs, $24.6 million of class C-1 and no class
C-2 notes remain outstanding.  Thus, the amount of subordinated
debt supporting the A and B classes has declined considerably.
Fitch is in the process of re-running its model of the Ballantyne
Re cash flows under various scenarios.  These scenarios will
consider the potential for continued declines in subprime market
values, the possibility of a recovery in subprime market values
and the likelihood that subprime market values may only partially
recover.  Fitch expects to complete this analysis within the week
at which time the ratings will likely be downgraded.  The
downgrades, particularly for the class B-1 and B-2 notes, could
potentially be more than one notch.

Ballantyne Re is a special purpose public limited company
incorporated and registered in Ireland.  The company was
established for the limited purpose of entering into a reinsurance
agreement with Scottish Re, and conducting activities related to
the notes' issuance.  Under the reinsurance agreement, Scottish Re
ceded a block of business to Ballantyne Re.  Ballantyne Re issued
the notes to finance excess reserve requirements under Regulation
XXX for the ceded block of business.


BARNHILL'S BUFFET: Selling 21 Restaurants to Star Buffet
--------------------------------------------------------
Star Buffet Inc. had reached agreement, subject to certain
conditions including bankruptcy court and selected creditor
approvals, to purchase the operating assets of 21 Barnhill's
Buffet Inc. restaurants located in the states of Alabama,
Arkansas, Florida, Louisiana, Mississippi and Tennessee.

Star Buffet, Inc. plans to acquire the restaurants in conjunction
with Barnhill's plans to restructure operations.  Barnhill's
Buffet filed a petition for voluntary Chapter 11 reorganization
with the U.S. Bankruptcy Court of the Middle District of Tennessee
on Dec. 3, 2007.  A closing date for this transaction has not been
determined.

"Barnhill's is a great company with a great buffet brand ... that
has recently struggled due to its capital structure, not because
of operational issues," Robert E. Wheaton, Star Buffet's president
stated.  "We believe that Star Buffet, Inc. has the financial
resources to help rectify Barnhill's liquidity problems and that
the addition of 21 Barnhill's restaurants will compliment our
existing presence in the southeastern marketplace."

Headquartered in Madison, Tennessee, Barnhill's Buffet Inc. --
http://www.barnhills.com/-- operates a chain of restaurants.


BARONET USA INC: Chapter 15 Petition Summary
--------------------------------------------
Petitioner: Ernst & Young, Inc.
            Ernst & Young Tower,
            T-D Centre, P.O. Box 251
            Toronto, Ontario M5K 1J7

Debtor: Baronet U.S.A., Inc.
        234, rue Baronet
        Ste-Marie de Beauce
        Province de Quebec

Case No.: 07-13821

Debtor-affiliate filing a separate Chapter 15 petition:

        Entity                                     Case No.
        ------                                     --------
        Baronet, Inc.                              07-13822

Type of Business: The Debtors are furniture manufacturers in
                  Canada.  They sell their products mainly in
                  Canada and the U.S.  See
                  http://www.baronet.ca/en/homepage.php

                  On November 8, 2007, the Quebec Superior Court
                  in Canada entered an order pursuant to the
                  Companies' Creditors Arrangement Act, R.S.C.
                  1985, commencing a proceeding for the purpose of
                  adjustment of debts and reorganization of the
                  financial affairs of the debtors.  Among other
                  things, the order appointed Ernst & Young, Inc.
                  as Monitor and as representative of the debtors,
                  and also authorized them, with the prior consent
                  of the debtors, to commence a chapter 15 case
                  and seek relief in the U.S. consistent with the
                  relief granted by the same order.

Chapter 15 Petition Date: December 4, 2007

Court: Southern District of New York (Manhattan)

Judge: James M. Peck

Petitioner's Counsel: Jeffrey S. Margolin, Esq.
                      Hughes, Hubbard & Reed, L.L.P.
                      1 Battery Park Plaza
                      New York, NY 10004
                      Tel: (212) 837-6375
                      Fax: (212) 422-4726

                             Estimated Assets      Estimated Debts
                             ----------------      ---------------
Baronet U.S.A., Inc.         $1 Million to         $1 Million to
                             $100 Million          $100 Million

Baronet, Inc.                $1 Million to         $1 Million to
                             100 Million           $100 Million


BEAR STEARNS: Moody's Downgrades Ratings on 59 Tranches
-------------------------------------------------------
Moody's Investors Service has downgraded the ratings of 59
tranches and has placed under review for possible downgrade the
ratings of 16 tranches from 5 transactions issued under the Bear
Stearns Asset Backed Securities I Trust shelf.  The collateral
backing these classes consists of primarily first lien, fixed and
adjustable-rate, subprime mortgage loans.

In its analysis, Moody's has evaluated the delinquency pipeline
and applied its published methodology updates as of July 13, 2007
the non-delinquent portion or the transactions.  Collateral
backing these transactions is also experiencing higher than
anticipated rates of delinquency, foreclosure, and REO relative to
credit enhancement levels.

Complete list of Rating Actions:

Issuer: Bear Stearns Asset Backed Securities I Trust 2007-AQ1

  -- Cl. M-1 Currently Aa1 on review for possible downgrade,
  -- Cl. M-2 Currently Aa2 on review for possible downgrade,
  -- Cl. M-3 Currently Aa3 on review for possible downgrade,
  -- Cl. M-4, Downgraded to Baa2, previously A1,
  -- Cl. M-5, Downgraded to Ba2, previously A2,
  -- Cl. M-6, Downgraded to B1, previously A3,
  -- Cl. M-7, Downgraded to Ca, previously Baa1,
  -- Cl. M-8, Downgraded to C, previously Baa2,
  -- Cl. M-9, Downgraded to C, previously Baa3,
  -- Cl. M-10, Downgraded to C, previously Ba1.

Issuer: Bear Stearns Asset Backed Securities I Trust 2007-AQ2

  -- Cl. M-1 Currently Aa1 on review for possible downgrade,
  -- Cl. M-2 Currently Aa2 on review for possible downgrade,
  -- Cl. M-3 Currently Aa3 on review for possible downgrade,
  -- Cl. M-4, Downgraded to Baa1, previously A1,
  -- Cl. M-5, Downgraded to Ba1, previously A2,
  -- Cl. M-6, Downgraded to B1, previously A3,
  -- Cl. M-7, Downgraded to Caa2, previously Baa1,
  -- Cl. M-8, Downgraded to Ca, previously Baa2,
  -- Cl. M-9, Downgraded to C, previously Baa3.

Issuer: Bear Stearns Asset Backed Securities I Trust 2007-FS1

  -- Cl. M-2 Currently Aa2 on review for possible downgrade,
  -- Cl. M-3 Currently Aa3 on review for possible downgrade,
  -- Cl. M-4, Downgraded to Baa1, previously A1,
  -- Cl. M-5, Downgraded to Baa3, previously A2,
  -- Cl. M-6, Downgraded to Ba3, previously A3,
  -- Cl. M-7, Downgraded to B3, previously Baa1,
  -- Cl. M-8, Downgraded to C, previously Baa2,
  -- Cl. M-9, Downgraded to C, previously Baa3,
  -- Cl. M-10, Downgraded to C, previously Ba1.

Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE1

  -- Cl. I-M-2 Currently Aa2 on review for possible downgrade,
  -- Cl. I-M-3 Currently Aa3 on review for possible downgrade,
  -- Cl. I-M-4, Downgraded to Baa1, previously A1,
  -- Cl. I-M-5, Downgraded to Baa3, previously A2,
  -- Cl. I-M-6, Downgraded to Ba3, previously A3,
  -- Cl. I-M-7, Downgraded to B3, previously Baa1,
  -- Cl. I-M-8, Downgraded to Caa2, previously Baa2,
  -- Cl. I-M-9, Downgraded to C, previously Baa3,
  -- Cl. I-M-10, Downgraded to C, previously Ba1,
  -- Cl. II-M-2 Currently Aa2 on review for possible downgrade,
  -- Cl. II-M-3 Currently Aa3 on review for possible downgrade,
  -- Cl. II-M-4, Downgraded to A2, previously A1,
  -- Cl. II-M-5, Downgraded to Baa2, previously A2,
  -- Cl. II-M-6, Downgraded to Ba1, previously A2,
  -- Cl. II-M-7, Downgraded to Ba3, previously A3,
  -- Cl. II-M-8, Downgraded to B2, previously Baa1,
  -- Cl. II-M-9, Downgraded to Caa1, previously Baa2,
  -- Cl. II-M-10, Downgraded to C, previously Baa3.

Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE2

  -- Cl. I-M-1 Currently Aa1 on review for possible downgrade,
  -- Cl. I-M-2 Currently Aa2 on review for possible downgrade,
  -- Cl. I-M-3 Currently Aa3 on review for possible downgrade,
  -- Cl. I-M-4, Downgraded to A3, previously A1,
  -- Cl. I-M-5, Downgraded to Baa3, previously A2,
  -- Cl. I-M-6, Downgraded to Ba2, previously A3,
  -- Cl. I-M-7, Downgraded to B1, previously Baa1,
  -- Cl. I-M-8, Downgraded to B3, previously Baa2,
  -- Cl. I-M-9, Downgraded to C, previously Baa3,
  -- Cl. I-M-10, Downgraded to C, previously Ba1,
  -- Cl. II-M-3 Currently Aa3 on review for possible downgrade,
  -- Cl. II-M-4, Downgraded to A2, previously A1,
  -- Cl. II-M-5, Downgraded to Baa2, previously A2,
  -- Cl. II-M-6, Downgraded to Ba1, previously A3,
  -- Cl. II-M-7, Downgraded to B1, previously Baa1,
  -- Cl. II-M-8, Downgraded to B2, previously Baa2,
  -- Cl. II-M-9, Downgraded to B3, previously Baa3,
  -- Cl. II-M-10, Downgraded to C, previously Ba1.

Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE3

  -- Cl. M-5, Downgraded to A3, previously A2,
  -- Cl. M-6, Downgraded to Baa1, previously A3,
  -- Cl. M-7, Downgraded to Baa3, previously A3,
  -- Cl. M-8, Downgraded to Ba2, previously Baa1,
  -- Cl. M-9, Downgraded to Ba3, previously Baa2.

Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE4

  -- Cl. M-7, Downgraded to Baa1, previously A3,
  -- Cl. M-8, Downgraded to Ba1, previously Baa1,
  -- Cl. M-9, Downgraded to Ba2, previously Baa2.

Issuer: Bear Stearns Asset Backed Securities I Trust 2007-HE5

  -- Cl. M-7, Downgraded to Baa2, previously A3,
  -- Cl. M-8, Downgraded to Baa3, previously Baa1,
  -- Cl. M-9, Downgraded to Ba1, previously Baa2.


BLAST ENERGY: Plan Confirmation Hearing Moved to January 30
-----------------------------------------------------------
The Hon. Jeff Bohm of the U.S. Bankruptcy Court for the Southern
District of Texas deferred the hearing to consider confirmation of
Blast Energy Services Inc. and Eagle Domestic Drilling Operations
LLC's Joint Amended Chapter 11 Plan of Reorganization to Jan. 30,
2008, at 9:00 a.m.

The plan confirmation hearing was previously scheduled on Nov. 28,
2007.

As reported in the Troubled Company Reporter on Oct. 22, 2007,
Judge Bohm approved the Amended Disclosure Statement explaining
the Debtors' Amended Plan citing that it contained "adequate
information" as required by Section 1125 of the Bankruptcy Code.

                       Treatment of Claims

Under the Plan, Administrative Claims will be paid in full and in
cash on the effective date.

Each holder of Priority Tax Claims, if any, will be paid in equal
annual installments of principal and interest.

Class 1 Allowed Priority Claims, totaling approximately $40,000,
are expected to recover 100% of their allowed claim amounts either
in cash or through a lesser treatment agreed to in writing.

Laurus Master Fund Ltd.'s secured claim will be fully satisfied by

    a) transfer of rigs pursuant to a settlement agreement and a
       related sale order and

    b) payment of $2,100,000  pursuant to a settlement agreement
       and a related sale order.

Berg McAfee Companies LLC's $1,120,000 estimated secured claim
will be fully satisfied by issuance to Berg McAfee of a new three
year note in the amount of $1,120,000 with an annual interest rate
of 8%, with interest payable at the end of the term in Reorganized
Blast Common Stock, and with a principal conversion right
exercisable at Berg McAfee's election.

Other secured claims, will, at the Debtors' option, either:

   a) be paid in cash in full;

   b) receive, without representation or warranty, the collateral
      securing its claim; or

   c) receive a note, secured by a lien securing its allowed
      secured claim.

Holders of Convenience Claims against both Debtors will receive,
in full and final satisfaction of their claim, cash on the
distribution date equal to 75% of the allowed claim amounts.

Unsecured Claims against both Debtors are entitled to cash
payments equal to:

   (a) 35% of the allowed claim amount; and

   (b) 65% of the allowed unsecured claim in the form of a junior
       secured note.

Second Bridge LLC's 900,000 shares of Blast common stock will, on
the effective date, be purchased by Reorganized Blast for $900.

Each holder of Allowed Unsecured Directors' Claim will be
converted to Blast common stock at the rate of $ 0.20 per share.
This class of claims in the Plan was created at the request of the
Official Committee of Unsecured Creditors and informally has been
consented to by each member of the Debtors' Board of Directors.

All interests in the Debtors will be retained by the holders in
the current form.

A full-text copy of the Disclosure Statement is available for a
fee at:

   http://www.researcharchives.com/bin/download?id=071017232413

                   About Blast Energy Services

Headquartered in Houston, Blast Energy Services and its debtor-
affiliate Eagle Domestic Drilling Operations LLC --
http://www.blastenergyservices.com/-- owns and contracts land
drilling rigs to third parties.  The Debtor also provides services
relating to drilling rig operations.

Blast Energy owns and develops abrasive jetting intellectual
property, technology and equipment providing downhole production
enhancement and drilling solutions, and satellite broadband access
for Internet, data, email, applications, VoIP and video streaming
as energy industry management tools providing real-time
supervisory control and data acquisition.

The company filed for Chapter 11 protection on Jan. 19, 2007
(Bankr. S.D. Tex. Case No. 07-30424 and 07-30426).  H. Rey
Stroube, III, Esq., represent the Debtors.  The Official Committee
of Unsecured Creditors is represented by Alan D. Halperin, Esq.,
at Halperin Battaglia Raicht LLP.  When the Debtor filed for
protection from its creditors, it listed total assets of
$63,500,851 and total debts of $51,019,486.


BRIGHTPOINT INC: Appoints Three Executive Officers
--------------------------------------------------
Brightpoint Inc., in connection with its ongoing integration
following its transaction with Dangaard Telecom, disclosed
that the duties and responsibilities of certain executives are
modified effective immediately:

  -- Jac Currie has been appointed as the company's Chief
     Information Officer and will lead the company's global IT
     team.

  -- R. Bruce Thomlinson will continue in his role of
     President, Asia Pacific but will have his scope expanded
     to include the Middle East, Africa and India.

  -- David O'Connell has been appointed as Chief Financial
     Officer for Brightpoint Europe.

Prior to his appointment as CIO, Mr. Currie had been President
of Emerging Markets since January 2006.  From August 2002 to
December 2005, Mr. Currie was the chairman and chief executive
officer of Persequor Limited, a holding company for investments
in wireless telecommunications that the Company subsequently
acquired and which is now one of the Company's wholly owned
subsidiaries.  From January 1998 to August 2002, Mr. Currie
served as the managing director of Brightpoint Middle East FZE,
then one of the Company's wholly owned subsidiaries.  Mr. Currie
also serves on the board of directors of several of the
Company's subsidiaries.  Mr. Currie is a wireless industry
veteran, having been involved in the industry since 1988.  Prior
to joining Brightpoint, he was employed by Deutsche Telecom in
the Philippines.  He also worked with Millicom International
Cellular from 1988 to 1995, in various senior marketing and
management roles throughout Europe, Asia and Latin America.

Mr. Thomlinson has served the Company in various capacities,
most recently as President, Asia-Pacific.  Prior to the
integration with Dangaard, Mr. Thomlinson served as President,
International Operations from August 2005.   Previously, he
served as President of the Company's Asia-Pacific division from
October 1998 and as Managing Director of Brightpoint Australia
since October 1996, when Brightpoint acquired Hatadicorp Pty
Ltd.  Prior to that time, Mr. Thomlinson held the position of
Managing Director for Hatadicorp.  He has been engaged in the
wireless communications industry since 1989.

Prior to his appointment as CFO for Brightpoint Europe, Mr.
O'Connell served as Vice President Integration and Communication
since November 2006.  Prior to that, Mr. O'Connell served as
Vice President of Taxation, Global Credit and Risk Management
for Brightpoint since April of 2003.  From August of 1997 to
April of 2003 he was the company's Director of Taxation.  Prior
to joining the Company, Mr. O'Connell was Tax Manager for
Allison Engine Company (now Rolls-Royce) in Indianapolis,
Indiana.  Prior thereto, he held various tax positions with
Ernst & Young.

                        About Brightpoint

Headquartered in Plainfield, Indiana, Brightpoint, Inc. --
http://www.brightpoint.com/-- distributes wireless devices and
accessories, as well as provision of customized logistic
services to the wireless industry.  The company primarily
operates in Australia, Colombia, Finland, Germany, India, New
Zealand, Norway, the Philippines, the Slovak Republic, Sweden,
United Arab Emirates and the United States.  The company's
customers include mobile operators, mobile virtual network
operators, resellers, retailers and wireless equipment
manufacturers.  Brightpoint was incorporated in 1989 under the
name Wholesale Cellular USA, Inc. and changed its name to
Brightpoint Inc. in 1995.

                          *     *     *

Standard & Poor's placed Brightpoint's long-term local and foreign
issuer credit ratings at BB- with a stable outlook in April 2006.
Ratings still hold to date.


BROADHOLLOW FUNDING: Moody's Junks Rating on Subordinated Notes
---------------------------------------------------------------
Moody's has downgraded the variable rate subordinated notes issued
by Broadhollow Funding LLC to Ca from B2.  To date, 54.23% of the
principal amount of the $138 million Subordinated Notes has been
paid.

The rating action is based primarily on the continued uncertainty
that the Subordinated Notes will be paid in full by the legal
final maturity date from the proceeds of the sale of mortgages and
receipt of payments from the swap providers.  The collateral in
the Broadhollow portfolio consisted of Agency conforming, jumbo
and Alt-A mortgage loans.  Broadhollow has not received the full
amount it believes is due under the market value swap.  According
to public documents filed with the US Bankruptcy Court for the
District of Delaware on Oct. 22, 2007, Broadhollow has filed suit
against one of the swap providers, Bank of America, N.A., in this
matter.

At the same time, Moody's is withdrawing the Prime-1 rating
assigned to the commercial paper issued by Broadhollow.

Broadhollow issued secured liquidity notes, a form of extendible
asset-backed commercial paper.  These notes were paid in full on
Oct. 9, 2007 and are no longer outstanding.

Broadhollow was sponsored by American Home Mortgage Investment
Corp. On August 6, 2007, the program sponsor, American Home
Mortgage Investment Corp., filed for bankruptcy under Chapter 11.


BARNHILL'S BUFFET: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Lead Debtor: Barnhill's Buffet, Inc.
             aka Barnhill's Buffet of Tennessee, Inc.
             1210 Briarville Road, Building F
             Madison, TN 37115

Bankruptcy Case No.: 07-bk-08948

Type of Business: The Debtor operates a chain of restaurants.
                  See http://www.barnhills.com/

Chapter 11 Petition Date: December 3, 2007

Court: Middle District of Tennessee (Nashville)

Judge: George C. Paine II

Debtor's Counsel: William Caldwell Hancock, Esq.
                  102 Woodmont Boulevard, Suite 200
                  Nashville, TN 37205
                  Tel: (615) 345-0202
                  Fax: (615) 296-0947

Estimated Assets: $10 Million to $50 Million

Estimated Debts:  $10 Million to $50 Million

Debtor's 20 Largest Unsecured Creditors:

   Entity                      Nature of Claim       Claim Amount
   ------                      ---------------       ------------
Akerman Senterfitt             trade                 $61,622
p.o. box 4906
orlando, FL 32802

Alabama Power Co.              trade                 $12,103
P.O. Box 242
Birmingham, AL 35292

Mobile Fixture & Equipment     trade                 $12,477
1155 Montlimar Drive
Mobile, AL 36609

Wintons Restaurant Facility    trade                 $10,133
Maintenance

Ecolab                         trade                 $7,775

Quality Inn & Suites           trade                 $6,616

Wear Guard                     trade                 $5,562

Canterbury Suites              trade                 $3,718

Nuco2, Inc.                    trade                 $3,436

Superior Commercial Service    trade                 $3,321

Fedex                          trade                 $2,252

Smith's Carpet & Furniture     trade                 $2,188

Florida Air Specialist         trade                 $2,187

Quality Inn Pascagoula         trade                 $1,978

Mike's Commercial Kitchen      trade                 $1,975
Repair

Hurst Carpet & Upholstery      trade                 $1,953
Cleaning Service

King Professional Carpet       trade                 $1,486
Cleaning Service

C.E. Chandler A.C. & Heating,  trade                 $1,276
Inc.

Johnson Diversey, Inc.         trade                 $1,113

Ken Dye                        trade                 $1,000


CA INC: Paying $0.04 Per Share Quarterly Dividend on December 28
----------------------------------------------------------------
CA Inc.'s Board of Directors has declared a regular, quarterly
cash dividend of $0.04 per share.  The dividend will be paid
on Dec. 28, 2007 to stockholders of record at the close of
business on Dec. 14, 2007.

Headquartered in Islandia, New York, CA Inc. (NYSE:CA) --
http://www.ca.com/-- is an information technology management
software company that unifies and simplifies the management
of enterprise-wide IT.  Founded in 1976, CA serves customers in
more than 140 countries.

                          *     *     *

Standard & Poor's Rating Services affirmed its 'BB' corporate
credit and senior unsecured debt ratings on CA Inc. in June 2007.
At the same time, S&P revised the outlook to stable from negative.


CALPINE CORP: Can Abandon Claims of Less than $1 Million
--------------------------------------------------------
The Hon. Burton R. Lifland of the U.S. Bankruptcy Court for the
Southern District of New York authorized Calpine Corp. and its
debtor-affiliates to abandon any and all claims or causes of
action to avoid transfers under Section 547 of the Bankruptcy Code
where the transfers to a particular entity aggregate less than
$1,000,000.

The Court also directed the Court Clerk to accept filings, under
seal, of the complaint in each Preference Action the Debtors may
file.  The dockets for any Preference Action will be under seal
and the identity of the defendant will not be disclosed.

The Debtors will have until June 30, 2008, to serve each
defendant with a summons and complaint.

David R. Seligman, Esq., at Kirkland & Ellis, LLP, in New York,
told the Court, on the Debtors' behalf, that their deadline to
commence avoidance actions under Section 547 is on Dec. 20,
2007.

According to Mr. Seligman, the Debtors may have more than 5,700
potential preference actions.  In late 2006, the Debtors
conducted an analysis of their payments on account of antecedent
debts during the preference periods and their payment history
within the 15 months before filing for bankruptcy.  The Debtors
also analyzed more than 35,000 payments made to more than 5,700
vendors within the applicable preference period.  These payments
total more than $5,100,000,000, he said.

Of those payments, Mr. Seligman noted, more than 20,000 payments
to approximately 4,700 vendors would provide no realistic
recovery value to the Debtors, regardless of the ultimate
recovery of unsecured creditors, based on a variety of factors
unique to each payee.  The payments, totaling approximately
$3,100,000,000, include:

   -- payments to parties that entered into postpetition
      settlements that waived avoidance claims;

   -- payments to contract counter-parties whose contracts were
      assumed;

   -- employee benefit payments;

   -- payments made to government entities otherwise entitled to
      priority treatment;

   -- intercompany transfers; and

   -- transfers to investment accounts.

Based on the Preference Analysis and focusing specifically on the
remaining $2,000,000,000 potential preference actions, the
Debtors believe that they have a number of preference claims
that, if litigated to conclusion, would result in significant
money judgment claims in their favor.  However, Mr. Seligman
stated, the value of the money judgments will be significantly,
if not completely, negated by the corresponding Section 502(h)
unsecured claims that will arise against the Debtors' estates
after satisfaction of the money judgments.

Specifically, the Debtors believe that filing and serving of
complaints asserting preference claims for aggregate payments of
less than $1,000,000 will cost them hundreds of thousands of
dollars in unnecessary legal fees and expenses without a
realistic chance of any material recovery on behalf of their
estates.

Since a determination that all unsecured creditors will be paid
in full negates any justification for filing preference actions,
the Debtors have sought tolling agreements with almost all
possible preference defendants, Mr. Seligman said, adding that
many of those still remain unsigned.

As a result, Mr. Seligman averred, the Debtors likely will be
forced to file certain preference actions to preserve their
rights on the December 20 deadline.  To avoid wasting time,
money, and judicial resources, however, the Debtors also asked the
Court to approve the procedures with respect to any preference
action they will commence until distributions to unsecured
creditors can be understood with greater clarity:

The Debtors proposed that:

   (a) the Clerk of the Court defer issuing summons unless and
       until they inform the Clerk of their intent to pursue the
       preference actions;

   (b) the time period under Rule 7004 of the Federal Rules of
       Bankruptcy Procedures be extended until June 30, 2008, to
       prevent dismissal of the complaint due to the deferred
       issuance of summons;

   (c) any adversary proceeding they file be temporarily stayed,
       without prejudice to their right to amend the complaint
       during the stay;

   (d) the stay will be automatically lifted upon the service of
       the summons and the filed complaint; and

   (e) the preference complaints be filed under seal.

Mr. Seligman contended that sealing of the records in the
Preference Actions will protect the Debtors and the potential
defendants from the disclosure of confidential and potentially
damaging commercial information, including information related to
valuation.

                          About Calpine

Based in San Jose, California, Calpine Corporation (OTC Pink
Sheets: CPNLQ) -- http://www.calpine.com/-- supplies customers
and communities with electricity from clean, efficient, natural
gas-fired and geothermal power plants.  Calpine owns, leases and
operates integrated systems of plants in 21 U.S. states and in
three Canadian provinces.  Its customized products and services
include wholesale and retail electricity, gas turbine components
and services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services.

The company and its affiliates filed for chapter 11 protection on
Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200).  Richard
M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq.,
and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the
Debtors in their restructuring efforts.  Michael S. Stamer, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors.  As of Aug. 31, 2007, the
Debtors disclosed total assets of $18,467,000,000, total
liabilities not subject to compromise of $11,207,000,000, total
liabilities subject to compromise of $15,354,000,000 and
stockholders' deficit of $8,102,000,000.

On Feb. 3, 2006, two more affiliates, Geysers Power Company, LLC,
and Silverado Geothermal Resources, Inc., filed voluntary chapter
11 petitions (Bankr. S.D.N.Y. Case Nos. 06-10197 and 06-10198).
On Sept. 20, 2007, Santa Rosa Energy Center, LLC, another
affiliate, also filed a voluntary chapter 11 petition (Bankr.
S.D.N.Y. Case No. 07-12967).

On June 20, 2007, the Debtors filed their Chapter 11 Plan and
Disclosure Statement.  On Aug. 27, 2007, the Debtors filed their
Amended Plan and Disclosure Statement.  Calpine filed a Second
Amended Plan on Sept. 19, 2007 and on Sept. 24, 2007, filed a
Third Amended Plan.  On Sept. 25, 2007, the Court approved the
adequacy of the Debtors' Disclosure Statement and entered a
written order on September 26.  The hearing to consider
confirmation of that Plan begins Dec. 17, 2007.  (Calpine
Bankruptcy News, Issue No. 72; Bankruptcy Creditors' Service Inc.;
http://bankrupt.com/newsstand/or 215/945-7000).


CAPITAL POINTE: Case Summary & 1 Largest Unsecured Creditor
-----------------------------------------------------------
Debtor: Capital Pointe, LLC
        800 Langford Drive, Suite D
        Norcross, GA 30071

Bankruptcy Case No.: 07-80526

Chapter 11 Petition Date: December 4, 2007

Court: Northern District of Georgia (Atlanta)

Judge: C. Ray Mullins

Debtor's Counsel: Bruce Z. Walker, Esq.
                  Cohen Pollock Merlin & Small
                  Suite 1600
                  3350 Riverwood Parkway
                  Atlanta, GA 30339-6401
                  Tel: (770) 858-1288

Estimated Assets: $1 Million to $10 Million

Estimated Debts:  $1 Million to $10 Million

Debtor's list of its Largest Unsecured Creditor:

   Entity                                          Claim Amount
   ------                                          ------------
Karl Lenker                                            $285,000
280 Willow Glen Point
Alpharetta, GA 30022


CARRINGTON LABS: Posts $2.2 Million Net Loss in Third Quarter
-------------------------------------------------------------
Carrington Laboratories Inc. reported a net loss of $2.2 million
on total revenues of $6.5 million for the third quarter ended
Sept. 30, 2007, compared with a net loss of $1.8 million on total
revenues of $6.7 million for the same period in 2006.

Interest expense, net of interest income, during the quarter ended
Sept. 30, 2007, increased $666,000 to $932,000 as compared to
$266,000 for the quarter ended Sept. 30, 2006.

At Sept. 30, 2007, the company's consolidated financial statements
showed $17.3 million in total assets, $16.5 million in total
liabilities, and $840,000 in total shareholders' equity.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?2610

                            Liquidity

The company's net cash requirements for the period Oct. 1, 2007,
through June 30, 2008, are projected to be approximately
$3.4 million.  During this period it is anticipated that
$2.6 million will be needed to fund net DelSite expenses for
research and development work on its proprietary drug delivery
systems.  In addition, it is anticipated that $1.5 million will be
needed to fund operating losses in the company's medical services
and consumer services divisions, $500,000 will be needed for
ongoing investment in capital equipment and $3.0 million for debt
service.  These cash requirements will be partially offset by the
$3.3 million existing cash balance at Sept. 30, 2007.

Based on current estimates, the company believes that it will need
to raise approximately $8.0 million in additional capital to meet
its operating and research and development needs through the end
of 2008.

                       Going Concern Doubt

Weaver and Tidwell L.L.P., in Dallas, expressed substantial doubt
about Carrington Laboratories Inc.'s ability to continue as a
going concern after completing its audit of the company's
consolidated financial statements for the year ended Dec. 31,
2006.  The auditing firm reported that the company has incurred
significant losses from operations and requires additional
financing to fund future operations.

                  About Carrington Laboratories

Headquartered in Irving, Texas, Carrington Laboratories Inc. (OTC:
CARN) -- http://www.carringtonlabs.com/-- is an ISO 9001-
certified, research-based, biopharmaceutical and consumer products
company currently utilizing naturally-occurring complex
carbohydrates to manufacture and market products for mucositis,
radiation dermatitis, wound and oral care, as well as to
manufacture and market the nutraceutical raw material Manapol(R)
and cosmetic raw material Hydrapol(TM).  Carrington also
manufactures and markets consumer products and manufactures
quality products for other companies.  Carrington's DelSite
Biotechnologies subsidiary is developing its proprietary
GelSite(R) technology designed to provide controlled release of
peptide and protein-based drugs.


CBRL GROUP: Paying $0.18/Share Regular Dividend on February 5
-------------------------------------------------------------
CBRL Group Inc.'s board has declared a regular dividend to common
shareholders of $0.18 per share, payable on Feb. 5, 2008, to
shareholders of record on Jan. 18, 2008.

Headquartered in Lebanon, Tennessee, CBRL Group Inc. (NASDAQ:
CBRL) -- http://www.cbrlgroup.com/-- operates 564 Cracker Barrel
Old Country Store(R) restaurants and gift shops located in 41
states.

                          *     *     *

CBRL Group Inc. continues to carry Moody's Investors Service's
'Ba2' corporate family rating, which was placed in April 2006.
The rating outlook is negative.


CELL THERAPEUTICS: Gets $6.5 Mil. from 7% Preferred Stock Sale
--------------------------------------------------------------
Cell Therapeutics Inc. has received approximately $6.5 million
from the sale of its 7% Convertible Preferred Stock and warrants
in a registered offering to several institutional investors,
including existing securities holders.

CTI sold 6,500 shares of Series D convertible preferred stock,
together with warrants, to investors at the negotiated price of
$1,000 per share of Series D convertible preferred stock.  The
Preferred Stock is convertible into 2,488,037 shares of common
stock, at a conversion price of $2.6125 per share.

The company also issued warrants to purchase up to 1,244,016
shares of common stock, with an exercise price of $2.55 per share.

The company intends to use the proceeds of the offering
towards the closing of its purchase of ZEVALIN(R) from Biogen Idec
Inc. and for general corporate purposes.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital
Group Inc., acted as the exclusive placement agent for the
offering.

Copies of the prospectus supplement and accompanying base
prospectus may be obtained directly from Cell Therapeutics Inc.,
501 Elliott Avenue West, Suite 400, Seattle, Washington 98119.

                     About Cell Therapeutics

Based in Seattle, Cell Therapeutics Inc. (NasdaqGM: CTIC) --
http://cticseattle.com/-- is a biopharmaceutical company
committed to developing an integrated portfolio of oncology
products aimed at making cancer more treatable.

                         *     *     *

As reported in the Troubled Company Reporter on Nov. 15, 2007,
Cell Therapeutics Inc.'s consolidated balance sheet at
Sept. 30, 2007, showed $84.9 million in total assets,
$180.8 million in total liabilities, and 149,000 in minority
interest in subsidiary, resulting in a $119.3 million total
shareholders' deficit.


CHINA YILI: Posts $15,808 Net Loss in Third Quarter
---------------------------------------------------
China Yili Petroleum Company reported a net loss of $15,808 on
sales of $508,612 for the third quarter ended Sept. 30, 2007,
compared with a net loss of $57,075 on $-0- of sales in the same
period a year ago.

All of the revenue and most of the expenses reported by the
company for the three months ended Sept. 30, 2007, were generated
by ASAP Holdings.  These do not, however, reflect all of the
revenue and expenses of ASAP Holdings for that three month period.
Because the merger of Yili Asphalt into the company on Aug. 13,
2007, is accounted for as a reverse merger, the historic financial
statements of Yili Asphalt have replaced the historic financial
statements of the company prior to the reverse merger.  Only the
results of operations of ASAP Holdings occurring after Aug. 13,
2007, are consolidated in the financial results for the quarter
ended Sept. 30, 2007.

The $508,612 in revenue reported by ASAP Holdings for the period
from Aug. 13, 2007, to Sept. 30, 2007, arose primarily from its
business of selling exhibit space at trade shows.

At Sept. 30, 2007, the company's consolidated balance sheet showed
$8,357,619 in total assets, $2,928,302 in total liabilities, and
$5,429,317 in total stockholders' equity.

The company's consolidated balance sheet at Sept. 30, 2007, also
showed strained liquidity with $256,187 in total current assets
available to pay $2,928,302 in total current liabilities.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?260e

                       Going Concern Doubt

Sutton Robinson Freeman & Co. P. C., in Tulsa, Okla., expressed
substantial doubt about ASAP Show Inc. nka. China Yili Petroleum
Company's ability to continue as a going concern after completing
its audit of the company's consolidated financial statements for
the year ended May 31, 2007.  The auditing firm reported that the
company has suffered recurring losses from operations and has a
net capital deficiency.

At Sept. 30, 2007, the company's current liabilities exceeded its
current assets by $2.7 million.  In addition, Yili Asphalt has not
generated any revenues.

                        About China Yili

Headquartered in New York, China Yili Petroleum Company (OTC BB:
CYIP) was incorporated in December 2004 under the laws of the
State of Nevada.  Until Aug. 13, 2007, the company was engaged
exclusively in operating the business of organizing trade-shows
and innovative means of financing international trade.  On
Aug.  13, 2007, the company acquired all of the registered capital
of Yili Asphalt Co., a corporation organized under the laws of The
People's Republic of China.  Yili Asphalt is engaged in the
business of refining heavy oil into asphalt, fuel oil and
lubricants.


CLAYTON HOLDINGS: May Take $100MM Impairment Charge in 4th Quarter
------------------------------------------------------------------
Clayton Holdings Inc. expects to take a pre-tax, non-cash,
impairment charge of between $75 million and $100 million in the
fourth quarter of 2007, reflecting the reduced carrying value of
goodwill, intangible assets and other long-lived assets of its
transaction management business.  The goodwill and intangible
assets were recorded in 2004 when TA Associates acquired the
majority interest in Clayton's due diligence business.

"As we have reported for several quarters, the steep decline in
new nonconforming securities issuance has significantly reduced
our transaction management revenues," Frank Filipps, Clayton's
chairman and chief executive officer, said.  "While we are well
positioned to benefit from any recovery in this market, internal
and industry projections anticipate continued lower levels of
MBS/ABS issuance throughout much of 2008 and possibly into 2009."

"In our last 10-Q and investor call, we noted that our board of
directors would retain an independent expert to review the value
of the goodwill and intangible assets that we carry on our balance
sheet," Mr. Filipps added.  "While these impairment tests have not
been completed, the company's board of directors has determined
that generally accepted accounting principles will require us to
record a non-cash impairment charge during the fourth quarter of
2007.  This charge does not affect our cash position, our cash
flow from operations or our debt covenants."

After the charge, the carrying value of Clayton's goodwill and
other intangible assets will total approximately $38 million to
$63 million.

                   About Clayton Holdings Inc.

Headquartered in Shelton, Connecticut, Clayton Holdings Inc., --
http://www.clayton.com/--  is an information and analytics
company serving capital markets firms, lending institutions, fixed
income investors and loan servicers with a full suite of
information-based analytics, specialty consulting and outsourced
services.  Clayton's services include due diligence analytics,
conduit support services, professional staffing, compliance
products and services, credit risk management and surveillance and
specialized loan servicing services.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 31, 2007,
Standard & Poor's Ratings Services revised its outlook on
Clayton Holdings Inc. to stable from positive, after the company's
deterioration in operating trends and credit metrics.  The
corporate credit rating is affirmed at 'B+'.


CLEAR CHANNEL: Paying $0.1875/Share Cash Dividend on January 15
---------------------------------------------------------------
Clear Channel Communications Inc.'s board of directors declared a
quarterly cash dividend of $0.1875 per share on its common stock.
The dividend is payable on or before Jan. 15, 2008, to
shareholders of record at the close of business on Dec. 31, 2007.

Based in San Antonio, Texas, Clear Channel Communications Inc.
(NYSE:CCU) -- http://www.clearchannel.com/-- is a media
and entertainment company specializing in "gone from home"
entertainment and information services for local communities and
premiere opportunities for advertisers.  The company's
businesses include radio, television and outdoor displays.
Outside U.S., the company operates in 11 countries -- Norway,
Denmark, the United Kingdom, Singapore, China, the Czech
Republic, Switzerland, the Netherlands, Australia, Mexico and
New Zealand.

                          *     *     *

As reported in the Troubled Company Reporter on Sept. 27, 2007,
Fitch Ratings said it expects to downgrade Clear Channel
Communications Inc.'s Issuer Default Rating to 'B' from 'BB-'.
The rating outlook is expected to be stable.  Existing ratings
remain on rating watch negative pending the closing of the
merger transaction and review of final documentation.


CMS ENERGY: Terminated Deal Won't Affect Fitch's "BB+" Rating
-------------------------------------------------------------
CMS Energy Corp.'s recent announcement that indirect subsidiary,
Dearborn Industrial Generation LLC has reached agreements to
terminate unprofitable electricity sales agreements with Ford
Motor Company and Severstal North America Inc. will not have any
effect on the ratings or Rating Outlook of CMS, according to Fitch
Ratings.  Under the terms of the termination agreements, CMS will
make a one-time cash payment of $275 million to Ford and SNA.  The
termination agreement is conditioned upon the ability of Ford and
SNA to return to electric service with the Detroit Edison Company.
Fitch currently rates CMS' Issuer Default Rating 'BB+' with a
Stable Outlook.

CMS has sufficient liquidity to withstand the $275 million payout
through its credit facilities.  There was approximately $296
million available under credit facilities as of Sept. 30, 2007.
The termination of these agreements is considered favorable and is
a factor in Fitch's current ratings analysis.

DIG entered into the agreements (260 MW) with Ford and SNA in 1999
to provide steam and (or) electricity based on a fixed price
schedule.  The price of natural gas, the primary fuel used by DIG,
is volatile and has increased substantially in recent years.
Because the prices charged under DIG's contracts do not reflect
current natural gas prices, DIG's financial performance has been
impacted negatively.  The long-term contracts have been a drag on
CMS earnings for several years due to higher gas prices.  However,
since not all of its 710 mw of capacity is committed under these
contracts, DIG has been selling portions of its electric capacity
and (or) energy into the market at a profit; and engaging in
hedging strategies to minimize its losses.  With the termination
of the Ford and SNA agreements, it is expected that DIG will post
positive cash flows beginning in 2008.

CMS is a utility holding company whose primary subsidiary is
Consumers Energy, a regulated electric and gas utility serving
more than 3.5 million customers in Western Michigan.  CMS also has
operations in natural gas pipelines and independent power
production.  DIG is a 710 MW gas combined and simple cycle
facility in Michigan.


COLLIN PORTERFIELD: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Collin Dwayne Porterfield
        3336 Hanover Street
        University Park, TX 75225
        Tel: (214) 369-3380

Bankruptcy Case No.: 07-36056

Type of Business: The Debtor is a lawyer.

Chapter 11 Petition Date: December 4, 2007

Court: Northern District of Texas (Dallas)

Debtor's Counsel: Collin D. Porterfield, Esq.
                  Collin, Dallas & Denton Companies
                  3336 Hanover Street
                  University Park, TX 75225
                  Tel: (214) 837-6532

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

The Debtor did not file a list of its 20 largest unsecured
creditors.


COLUMBIA AIRCRAFT: Bridge Associates OK'd as Restructuring Advisor
------------------------------------------------------------------
Columbia Aircraft Manufacturing Corporation obtained permission
from the U.S. Bankruptcy Court for the District of Oregon to
employ Bridge Associates LLC as its restructuring advisor,
pursuant to a pre-bankruptcy employment agreement between the
parties.

Bridge Associates is expected to:

   a) evaluate the Debtor's financial management systems for
      accuracy and the ability to allow management to effectively
      plan for Debtor's cash needs, including evaluation of data
      collection and preparation of cash flow projections;

   b) evaluate and implement financial controls;

   c) assist senior management with the development and execution
      of negotiating strategies with lenders, trade vendors,
      strategic suppliers, equity holders, investors, and other
      parties in interest that hold or assert claims or interests
      in Debtor;

   d) work with the Debtor's existing financial staff, officers
      and consultants to ensure the proper performance of the
      day-to-day functions customarily and reasonably associated
      with companies of similar size and complexity to Debtor;

   e) work with the Debtor's management to determine and implement
      appropriate staffing levels throughout Debtor's operations;

   f) assist the Board of Directors in reviewing and evaluating
      options for effective deployment of the Debtor's assets
      being developed as part of the Debtor's strategic view of
      its business and restructuring plan;

   g) assist the Debtor and support ING Financial Markets LLC
      investment bankers with respect to the sale of certain of
      the Debtor's assets and supporting and pursuing negotiations
      with potential investors;

   h) assist the Debtor in locating and negotiating with potential
      sources of debtor-in-possession financing;

   i) assist the Debtor in Chapter 11 bankruptcy proceedings
      including providing strategic advice and assistance with and
      supervision of preparation of the schedules and other
      documents needed to comply with applicable requirements of
      the U.S. Bankruptcy Code; and

   j) assist in such other matters as may be agreed upon by and
      between the parties.

Carl H. Young, III, a managing director of Bridge Associates,
tells the Court that the firm's professionals bill:

      Designation                           Hourly Rate
      -----------                           -----------
      Carl H. Young, III                       $500
      Michael Culliver                         $500
      Richard Reighard                         $400

      Managing Directors, Directors,        $350 - $550
      Principals and Senior Consultants
      Senior Associates or Consultants      $250 - $375
      Associates or Consultants             $200 - $300
      Paraprofessionals                      $90 - $150

Mr. Young assures the Court that the firm is "disinterested," as
that term is defined in Section 101(14) of the U.S. Bankruptcy
Code.

                     About Columbia Aircraft

Based in Bend, Oregon, Columbia Aircraft Manufacturing Corporation
-- http://www.flycolumbia.com/-- manufactures a variety of all-
composite aircraft, including the Columbia 400 and employs
approximately 440 people.

The company filed for Chapter 11 protection on Sept. 24, 2007
(Bankr. D. Ore. Case No. 07-33850).  Leon Simson, Esq., Albert
N. Kennedy, Esq., and Timothy J. Conway, Esq., at Tonkon Torp
LLP represent the Debtor in its restructuring efforts.  James
Ray Streinz, Esq., and Johnston A. Mitchell, Esq., at McEwen
Gisvold LLP serve as counsel to the Official Committee of
Unsecured Creditors.  When the Debtors filed for protection from
their creditors, they listed estimated assets and liabilities of
$1 million to $100 million.  The Debtor's list of its 20 largest
unsecured creditors showed total aggregate claims of more than
$50 million.


COLUMBIA AIRCRAFT: Taps ING Fin'l. as Investment Banker & Advisor
-----------------------------------------------------------------
Columbia Aircraft Manufacturing Corporation asks permission from
the U.S. Bankruptcy Court for the District of Oregon to employ ING
Financial Markets LLC as its financial advisor and investment
banker, nunc pro tunc to Sept. 24, 2007.

The Debtor initially retained ING Financial on November 2006.  The
services ING Financial has been performing for the Debtor and for
which ING will continue to perform include:

   a) advising the Debtor with respect to the structure and
      financial terms of a possible sale or other transaction and
      the negotiating strategy to be used in connection with the
      sale(s);

   b) assisting the Debtor in preparing informaiton, documents,
      and confidential offering memoranda for distribution to
      potential buyers in connection with the sale process;

   c) coordinating and assisting in the preparation of the
      appropriate due diligence process and participating in
      meetings with potential acquirers as needed;

   d) identifying in any discussions and negotiations with
      prospective suitors and serving as primary intermediary
      between the Debtor and potential bidders for purposes of
      negotiating confidentiality agreements required of all
      potential bidders requesting information and access for due
      diligence purposes; and

   e) identifying and introducing investors, companies and person
      who might be interested in a transaction involving the
      Debtor.

For compensation, ING Financial will be entitled to a success fee
equal to the greater of:

   -- 1.5% of the aggregate consideration, as defined in the
      Debtor's engagement agreement with the firm, payable in
      connection with a sale, merger, consolidation,
      reorganization, or other business combination involving all
      or a substantial portion of the business assets of the
      Debtor; or

   -- an amount of $1,150,000.

A non-refundable retainer of $50,000 previously paid to ING will
be credited against any success fee which ING may be entitled to
receive.  Prior to the Debtor's bankruptcy filing, ING was paid
approximately $206,259 in accordance with the engagement
agreement.

The Debtor says that the firm does not have any connection with
the Debtor, its creditors, or any other party-in-interest, other
than that established by the engagement agreement.

                        Committee Objects

The Official Unsecured Creditors Committee in Columbia Aircraft's
Chapter 11 case objected to certain aspects of ING's employment as
financial advisor.

The Creditors Committee asked the Court not to allow its
discretion over the compensation of ING to be limited by the pre-
bankruptcy engagement agreement.  The Committee related that the
Court has already rejected the attempted end-run around the
requirements for hiring professionals by assuming a prepetition
contract in its decision with respect to hiring Bridge Associates.
Although the parties agreed to hire Bridge, the Court recognized
that Bridge needed to be hired as a professional under Section 327
of the U.S. Bankruptcy Code.  The Committee contends that the
Court should allow employment of ING as a professional on terms
accepted by the Court, rather than required by the engagement
agreement.

The Committee explained that other bankruptcy courts have rejected
attempts by professionals, especially investment bankers, to
dictate the terms of their representation through a prepetition
contract.  The Committee pointed out that these courts facing this
issue recognized that the debtor and the investment banker are not
in an equal bargaining position, which would lead to a debtor
agreeing to a "bad bargain".

The Committee also objected to ING seeking to have its fee set at
$1,150,000.  The guaranty of a set fee is unwarranted, precisely
because the Court should give discretion to set compensation based
on whether ING has been successful, the Creditors Panel contended.

                     About Columbia Aircraft

Based in Bend, Oregon, Columbia Aircraft Manufacturing Corporation
-- http://www.flycolumbia.com/-- manufactures a variety of all-
composite aircraft, including the Columbia 400 and employs
approximately 440 people.

The company filed for Chapter 11 protection on Sept. 24, 2007
(Bankr. D. Ore. Case No. 07-33850).  Leon Simson, Esq., Albert
N. Kennedy, Esq., and Timothy J. Conway, Esq., at Tonkon Torp
LLP represent the Debtor in its restructuring efforts.  James
Ray Streinz, Esq., and Johnston A. Mitchell, Esq., at McEwen
Gisvold LLP serve as counsel to the Official Committee of
Unsecured Creditors.  When the Debtors filed for protection from
their creditors, they listed estimated assets and liabilities of
$1 million to $100 million.  The Debtor's list of its 20 largest
unsecured creditors showed total aggregate claims of more than
$50 million.


COMMSCOPE INC: Sees Positive 2007 Fourth Quarter Results
--------------------------------------------------------
CommScope Inc. raised its fourth quarter 2007 financial guidance.
CommScope chairman and chief executive officer, Frank Drendel,
will review the company's growth opportunities, the increased
fourth quarter 2007 financial guidance and the pending Andrew
Corporation acquisition when he meets with investors at Lehman
Brothers' 2007 Global Technology Conference at the Fairmont Hotel
in San Francisco, California on Dec. 5, 2007.

Due to positive trends in sales, orders and operations, CommScope
management expects fourth quarter revenue to be in the
$435 - $445 million range, and operating income to increase by 30%
to 45% year over year, based on the expected operating margin of
11.5% to 12.5%, excluding special items.

The company's previous fourth quarter 2007 guidance was sales of
$420 - $440 million and operating margin of 11% to 12%, excluding
special items.

Based in Hickory, North Carolina, CommScope Inc. (NYSE: CTV) --
http://www.commscope.com/-- is into infrastructure solutions for
communication networks.  CommScope's structured cabling systems
for business enterprise applications includes SYSTIMAX(R)
Solutions(TM) and Uniprise(R) Solutions brands.
It is also the manufacturer of coaxial cable for Hybrid Fiber
Coaxial applications.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 19, 2007,
Standard & Poor's Ratings Services affirmed its ratings on
CommScope Inc. and Andrew Corp. and removed them from CreditWatch,
where they were placed on  June 27, 2007, with negative
implications.  S&P also affirmed the 'BB-' corporate credit and
'B' subordinated debt ratings for both companies.  The ratings on
Andrew will be withdrawn after its acquisition and debt
refinancing.  The outlook is stable.


CORD BLOOD: Sept. 30 Balance Sheet Upside-Down by $4.1 Million
--------------------------------------------------------------
Cord Blood America Inc.'s consolidated balance sheet at Sept. 30,
2007, showed $5.9 million in total assets and $10.0 million in
total liabilities, resulting in a $4.1 million total stockholders'
deficit.

At Sept. 30, 2007, the company's consolidated balance sheet also
showed strained liquidity with $903,102 in total current assets
available to pay $10.0 million in total current liabilities.

The company reported a net loss of $1.1 million for the third
quarter ended Sept. 30, 2007, compared with a net loss of
$1.3 million in the comparable period last year.

For the three months ended Sept. 30, 2007, total revenue increased
$511,000 or 44.7% to $1.7 million due primarily to the company's
acquisition of more umbilical cord samples along with customer
lists and marketing efforts.

Administrative and selling expenses increased to $1.1 million, or
an increase of $230,000 from the three month comparative period in
2006.

Interest costs increased $473,000 over the prior year's
comparative period, an increase of 87%.

For the nine months ended Sept. 30, 2007, total revenue increased
$3.1 million or 121% to $5.7 million.

Net loss from continuing operations did not significantly change
from the comparative period, declining 1.8% to $4.2 million.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?2608

                       Going Concern Doubt

As reported in the Troubled Company Reporter on Oct. 9, 2007,
Rose, Snyder & Jacobs, in Encino, Calif., expressed
substantial doubt about Cord Blood America Inc.'s ability to
continue as a going concern after auditing the company's balance
sheet for the years ended Dec. 31, 2006, and 2005.  The auditing
firm pointed to the company's recurring operating losses,
continuing use of cash in operating activities, insufficient
working capital and accumulated deficit at Dec. 31, 2006.

                       About Cord America

Headquartered in West Hollywood, California, Cord Blood America
Inc. (OTC BB: CBAI) -- http://www.cordblood-america.com/-- is the
parent company of CorCell, which facilitates umbilical cord blood
stem cell preservation for expectant parents and their children.
Collected through a safe and non-invasive process, cord blood stem
cells offer a powerful and potentially life-saving resource for
treating a growing number of ailments, including cancer, leukemia,
blood, and immune disorders.


CREDIT SUISSE: Fitch Junks Rating on Class B-7 Certificates
-----------------------------------------------------------
Fitch Ratings affirms 4, downgrades 11, and places 1 class on
Rating Watch Negative from the following Credit Suisse Mortgage
Securities Corp. mortgage-backed pass-through certificates, series
2006-7

Groups 1-5
  -- Class A affirmed at 'AAA';
  -- Class B-1 affirmed at 'AA';
  -- Class B-2 affirmed at 'A';
  -- Class B-3 downgraded to 'BBB' from 'BBB+';
  -- Class B-4 downgraded to 'BBB-' from 'BBB';
  -- Class B-5 downgraded to 'BB+' from 'BBB-';
  -- Class B-6 downgraded to 'B+' from 'BB';
  -- Class B-7 downgraded to 'C/DR4' from 'B'.

Groups 6-12
  -- Class A affirmed at 'AAA';
  -- Class DB-2 rated 'AA-' is placed on Rating Watch Negative;
  -- Class DB-3 downgraded to 'A' from 'A+';
  -- Class DB-4 downgraded to 'BBB+' from 'A';
  -- Class DB-5 downgraded to 'BBB-' from 'BBB+';
  -- Class DB-6 downgraded to 'BB+' from 'BBB';
  -- Class DB-7 downgraded to 'B+' from 'BBB-' and removed from
     Rating Watch Negative;
  -- Class DB-8 is downgraded to 'CC/DR3' from 'B+';
  -- Class DB-9 remains at 'C/DR4'.

The collateral of the above transaction consists of first lien
fixed-rate alt-A mortgage loans.  All of the mortgage loans were
purchased by an affiliate of the depositor from various sellers in
secondary market transactions.

The affirmations reflect adequate relationships of credit
enhancement to future loss expectations and affect approximately
$927.9 million of outstanding certificates.  The downgrades,
affecting approximately $25.7million of outstanding certificates,
are taken as a result of a deteriorating relationship between CE
and expected loss.  In addition, the class DB-2 bond was placed on
Rating Watch Negative and affects approximately $5 million in
outstanding certificates.

As of the Oct. 25, 2007 remittance period, the Groups 1-5 has
approximately 1.94% of its collateral in the 60+ delinquency
bucket while the current CE for most subordinate Fitch rated class
(B-7) is 0.33%.  Groups 6-12 has approximately 3.63% of its
collateral in the 60+ delinquency bucket while the current CE for
class DB9 is 0.55%.  The pool factors of Group 1-5 and Groups 6-12
is approximately 83% and 82%, respectively, and the trust is 15
months seasoned.

The mortgage loans are being serviced by various servicers with
Wells Fargo Bank, N.A. ('RMS1' rated by Fitch) acting as Master
Servicer.


CSFB HOME: Moody's Lowers Ratings on 36 Certificate Classes
-----------------------------------------------------------
Moody's Investors Service has downgraded 36 certificates and
placed on review for possible downgrade 14 certificates from five
transactions issued by CSFB Home Equity Mortgage Trust.  All
transactions are backed by second lien loans.  The certificates
were downgraded and placed on review for possible downgrade
because the bonds' credit enhancement levels, including excess
spread and subordination, were too low compared to the current
projected loss numbers at the previous rating levels.

Substantial pool losses over the last few months have continued to
erode credit enhancement available to the mezzanine and senior
certificates.  Despite the large amount of write-offs due to
losses, delinquency pipelines have remained high as borrowers
continue to default.  The actions reflect Moody's expectation that
the significant delinquency pipelines will have a further negative
impact on the credit support for the senior and mezzanine
certificates.

Complete rating actions are:

Issuer: CSFB Home Equity Mortgage Trust 2006-1

  -- Cl. M-3, Downgraded to Baa1 from A2
  -- Cl. M-4, Downgraded to Baa3 from Baa1
  -- Cl. M-5, Downgraded to Ba3 from Baa2
  -- Cl. M-6, Downgraded to B3 from Ba1
  -- Cl. M-7, Downgraded to Caa2 from Ba3
  -- Cl. M-8, Downgraded to Ca from B1
  -- Cl. M-9, Downgraded to C from Ca

Issuer: CSFB Home Equity Mortgage Trust 2006-3

  -- Cl. A-1, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl. A-2, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl. A-3, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl. M-1, Downgraded to Baa2 from A1
  -- Cl. M-2, Downgraded to Ba3 from A3
  -- Cl. M-3, Downgraded to Caa2 from Baa2
  -- Cl. M-4, Downgraded to Ca from Ba1
  -- Cl. M-5, Downgraded to C from Ba3
  -- Cl. M-6, Downgraded to C from B2
  -- Cl. M-7, Downgraded to C from Ca

Issuer: CSFB Home Equity Mortgage Trust 2006-4

  -- Cl. A-1, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl. A-2, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl. A-3, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl. M-1, Downgraded to Baa2 from A1
  -- Cl. M-2, Downgraded to B2 from Baa1
  -- Cl. M-3, Downgraded to Caa2 from Baa2
  -- Cl. M-4, Downgraded to Ca from Baa3
  -- Cl. M-5, Downgraded to C from Ba2
  -- Cl. M-6, Downgraded to C from Ba3
  -- Cl. M-7, Downgraded to C from Caa1

Issuer: Home Equity Mortgage Trust 2006-5

  -- Cl. A-1, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl. A-2, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl. A-3, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl. M-1, Downgraded to Ba1 from A2
  -- Cl. M-2, Downgraded to B2 from Baa1
  -- Cl. M-3, Downgraded to Caa1 from Baa2
  -- Cl. M-4, Downgraded to Caa3 from Baa3
  -- Cl. M-5, Downgraded to Ca from Ba1
  -- Cl. M-6, Downgraded to C from Ba2
  -- Cl. M-7, Downgraded to C from Caa1
  -- Cl. M-8, Downgraded to C from Ca

Issuer: CSFB Home Equity Mortgage Trust 2006-6

  -- Cl. 1A-1, Placed on Review for Possible Downgrade,
     currently Aa1
  -- Cl. 2A-1, Placed on Review for Possible Downgrade,
     currently Aa1
  -- Cl. 2A-2, Placed on Review for Possible Downgrade,
     currently Aa1
  -- Cl. 2A-3, Placed on Review for Possible Downgrade,
     currently Aa1
  -- Cl. M-1, Placed on Review for Possible Downgrade,
     currently Aa3
  -- Cl. M-2, Downgraded to Ba2 from A2
  -- Cl. M-3, Downgraded to B1 from A3
  -- Cl. M-4, Downgraded to Caa2 from Baa1
  -- Cl. M-5, Downgraded to Ca from Baa2
  -- Cl. M-6, Downgraded to C from Baa3
  -- Cl. M-7, Downgraded to C from Ba1
  -- Cl. M-8, Downgraded to C from B3


DB ISLAMORADA: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: DB Islamorada LLC
        501 Continental Plaza
        3250 Mary Street
        Miami, FL 33133

Bankruptcy Case No.: 07-20537

Chapter 11 Petition Date: November 29, 2007

Court: Southern District of Florida (Miami)

Judge: A. Jay Cristol

Debtor's Counsel: Patricia A. Redmond, Esq.
                  Stearns Weaver Miller, et al.
                  150 West Flagler Street, Suite 2500
                  Miami, FL 33130
                  Tel: (305) 789-3553
                  Fax: (305) 789-3395

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's list of its 16 Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
LaRooco Enterprises, Inc.        Trade Debt              $123,689
743 Largo Road
Key Largo, FL 33037

New Urban Places, Inc.           AP - Developer Fee        $7,500
3250 Mary Street, Suite 501
Miami, FL 33133
                                 Affiliated Company       $72,935

Destination Club Partners LLC    Trade Debt               $66,127
11000 Corporate Centre Drive
Suite 150
Houston, TX 77041

Monroe County Tax Collector      Real Property Taxes      $60,454

BEA International Inc.           Trade Debt               $44,307

Normandy Holdings II, LLC        Affiliated Company       $30,000

KMI Marine Inc.                  Construction             $28,957

Corporate Insurance Advisors     Windstorm Insurance      $27,781
                                 Down payment

Accurate Construction Survey     Trade Debt               $13,825

Imperial Premium Finance Inc.    Insurance Financing      $11,711

C.F.S. Inc.                      Trade Debt                $7,380

Destination Club Management      Trade Debt                $4,011

Islamorada Village Islands       Trade Debt                $3,576

Just Marble & Mosaics Inc.       Trade Debt                $3,144

Perez Perez Engineering and      Trade Debt                $2,820
Development

Village of Islamorada            Trade Debt                $2,171


DELPHI CORP: Gets Committees' Support on Plan Amendments
--------------------------------------------------------
Delphi Corp. said it has reached agreements in principle with its
Official Committee of Unsecured Creditors, its Official Committee
of Equity Security Holders, General Motors Corp. and its Plan
Investors on amendments to its Joint Plan of Reorganization,
Global Settlement Agreement and Master Restructuring Agreement
between Delphi and GM, and the Investment Agreement with Delphi's
Plan Investors led by an affiliate of Appaloosa Management L.P.
Delphi filed potential amendments to all four documents on Monday
evening in the United States Bankruptcy Court for the Southern
District of New York as revisions to the company's Disclosure
Statement and appendices to the company's Disclosure Statement.

Delphi expects to make further amended filings prior to the
resumption on Dec. 6, 2007 of the Disclosure Statement hearing
commenced in Oct. 2007.  These filings will include further
changes required to reflect the agreements in principle with
Delphi's key stakeholders and executed signature pages with
respect to the Company's agreements with GM and the Plan
Investors.  These agreements currently remain subject to proposed
amendments announced on Nov. 14, which are also subject to
Bankruptcy Court approval.

The potential amendments primarily reflect changes required by
Delphi's Statutory Committees to obtain their support of Delphi's
Plan and related Disclosure Statement.  In the event these
amendments do not become effective, the original underlying
agreements as approved by the Bankruptcy Court on Aug. 2 remain
in effect.  The company continues to pursue emergence from
Chapter 11 during the first quarter of 2008.

The potential amendments to the Disclosure Statement and certain
Appendices (which include amendments to the POR, the GM Global
Settlement Agreement, the GM Master Restructuring Agreement and
the Investment Agreement) will be available on
http://www.delphidocket.com/

                        About Delphi Corp.

Headquartered in Troy, Michigan, Delphi Corporation (OTC: DPHIQ)
-- http://www.delphi.com/-- is the single supplier of vehicle
electronics, transportation components, integrated systems and
modules, and other electronic technology.  The company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  Delphi has regional headquarters
in Japan, Brazil and France.

The company filed for chapter 11 protection on Oct. 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represents the Official Committee of Unsecured Creditors.  As of
March 31, 2007, the Debtors' balance sheet showed $11,446,000,000
in total assets and US$23,851,000,000 in total debts.

The Debtors' exclusive plan-filing period expires on Dec. 31,
2007.  On Sept. 6, 2007, the Debtors filed their Chapter 11 Plan
of Reorganization and a Disclosure Statement explaining that
Plan.  (Delphi Bankruptcy News, Issue No. 100; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


DIMITRIOUS THERIANOS: Case Summary & 17 Largest Unsec. Creditors
----------------------------------------------------------------
Lead Debtor: Dimitrious Therianos
             Maria Therianos
             12320 Old Stone Drive
             Indianapolis, IN 46236

Bankruptcy Case No.: 07-11939

Chapter 11 Petition Date: December 3, 2007

Court: Southern District of Indiana (Indianapolis)

Judge: Frank J. Otte

Debtor's Counsel: Patrick C Badell, Esq.
                  Badell & Wilson, P.C.
                  P.O. Box 337
                  Rushville, IN 46173-0337
                  Tel: (765)932-3951
                  http://www.bwlawoffice.com/

Estimated Assets: $1 million to $100 million

Estimated Debts: $100,000 to $1 million

Debtor's 17 Largest Unsecured Creditors:

   Entity                      Nature of Claim       Claim Amount
   ------                      ---------------       ------------
Ford Credit                    security agreement;      $19,212
P.O. Box 790093                value of security:
                               $45,000
GMAC                           security agreement;      $10,689
P.O. Box 900195                value of security:
Louisville, KY 40290-1951      $30,000

HFC                            mortgage                 $10,000

Bookkeeping Plus                                         $5,867

GE Money Bank                                            $4,583

Washington Park Cemetary                                 $3,015
Assoc.

Timps & Timps CPA LLC                                    $1,620

TSYS Total Debt Management                               $1,510
Inc.

State Farm                                               $1,433

Credit Collection                                        $1,175
Services

Capital One                                                $736

American Medical Collection                                $420
Agency

Washington Mutual                                          $405

Community Hospitals Inc.                                   $391

World Financial Network                                    $372
National

Aspen Publishers                                           $351

Auto Center Inc.                                           $315


DOREEN MEEKS: Case Summary & 14 Largest Unsecured Creditors
-----------------------------------------------------------
Lead Debtor: Doreen Kay Meeks
             fka Doreen Kay Laffitte
             dba North Georgia Auto
             35 Riverwood Cove
             Kingston, GA 30145

Bankruptcy Case No.: 07-43118

Chapter 11 Petition Date: December 3, 2007

Court: Northern District of Georgia (Rome)

Debtor's Counsel: James R. McKay, Esq.
                  Fuller & McKay Attorneys at Law
                  P. O. Box 1654
                  Rome, GA 30162-1654
                  Tel: (706) 295-1300
                  http://www.bellsouth.net/

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

Debtor's 14 Largest Unsecured Creditors:

   Entity                                           Claim Amount
   ------                                           ------------
Bank of America                                        $279,495
P.O. Box 5388680
Atlanta, GA
30353-8680

SunTrust Bank                                          $133,000
3600 SunTrust Plaza
Mail Code 0662
303 Peachtree St., NE

Citicards                                               $42,386
P.O. Box 88906
Des Moines, IA
50363

Countrywide Home                                        $37,654

Charles Meeks, Sr.                                      $35,000

Robert Keith                                            $33,000

American Express                                        $31,127

FIA Card Svcs.                                          $22,000

Target National Bank                                    $15,868

Chase Credit                                            $15,331

Washington Mutual                                       $14,568

Randy Thompson                                          $12,000

Discover                                                $11,487

Wachovia Card Svcs.                                     $10,500


DRESSER-RAND GROUP: Implements Terms of New Union Contract
----------------------------------------------------------
Dresser-Rand Group Inc., after reaching impasse in its
negotiations with the IUE-CWA Local 313 union representatives
for the company's Painted Post facility in New York State, the
company has implemented the terms of its last offer and has
invited bargaining unit employees to immediately return to work.

At the time of the strike on Aug. 4, 2007, there were
approximately 400 bargaining unit employees.  However, since the
strike began, the company has hired over 90 permanent
replacement workers, subcontracted approximately 35% of its
work, and continued to augment production with approximately 130
temporary employees.  It is anticipated that temporary employees
will continue to be reduced by additional new hires, employees
returning to work, and increased subcontracting.

"This is a major event in the evolution of this facility because
the contract language governing our operating policies is now
consistent with contemporary standards, and the employee
benefits will be more in line with the vast majority of what
already exists among Dresser-Rand U.S.-based union and non-union
employees," said Dresser-Rand President and Chief Executive
Officer, Vincent R. Volpe, Jr.

"While it is unfortunate that we collectively had to endure a
sixteen week strike, it is equally clear that this was an
investment in the future of the Painted Post facility.
Throughout the course of the strike, our replacement workers and
our salaried employees, as well as the strikers who returned to
work, did an outstanding job because of their dedication and
their extended work hours in helping the business move forward,"
said Mr. Volpe.

On Nov. 13, 2007, the Union and the company agreed to meet for 3
more days of bargaining and then to meet every day beginning
Nov. 26, 2007, in continuous negotiating sessions on consecutive
days thereafter.  On Nov. 19, 2007, the union made an offer to
return to work under the expired contract.  This followed 32
sessions of negotiations between the company and the union and a
sixteen-week strike.  The company elected not to accept the
union's offer.  During the first two days of negotiations
following the Thanksgiving holiday, both parties expressed their
unwillingness to change their negotiating position.  The union
then informed the company that it was unavailable to meet for
the remainder of the week, and ended the negotiations at
approximately noon on Nov. 27, 2007.

According to Vice President and Chief Administrative Officer
Elizabeth Powers, "The Union has filed several unfair labor
practice charges against the company which will be decided over
the course of the next several months.  The company has fully
cooperated with the National Labor Relations Board's
investigation of these charges.  However, the company, together
with our external labor counsel, are confident that every
precaution has been taken to ensure that the company has
followed the law properly and fully respected the rights of the
Union, the employees, and the bargaining process."

Over the sixteen week strike, Painted Post shipped 42 complete
compressor units, the majority of which were delivered on time
or early to clients.  During the months of the strike, from
August through November 2007, the parts business in Painted Post
exceeded shipment levels compared to August through November
2006.

During the strike, Lloyds Registry recertified the Painted Post
facility for both ISO 9001 and ISO 14001, despite the fact that
the entire workforce of temporary and permanent replacement
workers was new.

According to Director of Operations for the Painted Post
facility, Doug Rich, "The past several weeks have resulted in a
culture change and a tremendous amount of teamwork within the
facility as all of our employees -- both management and
production employees -- have worked together to accomplish our
goal of providing uninterrupted service to our clients.  We are
proud of the effort and results of our employees during this
strike."

Mr. Volpe said, "We are now looking forward to welcoming back
many of our employees into a rejuvenated atmosphere of
collaboration and teamwork, where positive energy is expended on
satisfying our clients".

"This company, with the support of its board and shareholders,
never wavered in its resolve to obtain what we considered to be
the principal operational objectives that have now been
achieved" according to Mr. Volpe.  "As a result, clients of our
reciprocating compressor products, principally manufactured in
Painted Post New York, should be better served."

The company currently does not believe that this recent
development warrants any change in its earnings guidance for
2007 and 2008 disclosed at its Oct. 31, 2007 conference call
which followed the report of the company's third quarter 2007
results.

                    About Dresser-Rand Group

Headquartered in Houston, Texas, Dresser-Rand Group Inc. (NYSE:
DRC) -- http://www.dresser-rand.com/-- supplies rotating
equipment solutions to the worldwide oil, gas, petrochemical, and
process industries.  The company operates manufacturing facilities
in the United States, France, Germany, Norway, India, and Brazil,
and maintains a network of 26 service and support centers covering
more than 140 countries.

                          *     *     *

As reported in the Troubled Company Reporter on Sept. 6, 2007,
Standard & Poor's Ratings Services assigned its "BB-" bank loan
and recovery ratings to the $500 million senior secured revolving
credit facility due 2012 of Dresser-Rand Group Inc.  The rating
has Stable outlook.


DRESSER-RAND: Employees Back to Work at Painted Post Facility
-------------------------------------------------------------
Dresser-Rand Group Inc. has began an orderly process of calling
bargaining unit employees back to work after a 17 week work
stoppage involving approximately 400 employees at its Painted
Post facility in New York State.

On Nov. 29, 2007, the company disclosed that, after reaching
impasse in its negotiations with IUE-CWA Local 313, it was
implementing the terms of its last offer and inviting bargaining
unit employees to return to work.   The union offered, on behalf
of its membership to end the strike by unconditionally offering to
return to work under the terms of the implemented company offer.
The company has released its temporary workforce.

According to Dan Meisner, "Total production from all sources is
expected to continue at pre-strike levels as we replace
temporary workers and subcontracted work with returning
employees.  Approximately 75 employees are expected to return to
work on Tuesday, Dec. 4.  Additional employees will be scheduled
to return to work over the next few days and weeks as we
identify and fill vacancies.  We look forward to the return of
our employees."

"We recognize that this has been a difficult situation for all of
us that have been affected by the work stoppage -- our employees
who have been on strike and their families, the Painted Post
community and our salaried and new employees who have been working
tremendous hours to continue providing uninterrupted service to
our clients," Doug Rich, Director of Operations, said.  "We now
have an opportunity to move forward and forge a bright future by
working together in an environment of mutual respect, cooperation
and teamwork."

                    About Dresser-Rand Group

Headquartered in Houston, Texas, Dresser-Rand Group Inc. (NYSE:
DRC) -- http://www.dresser-rand.com/-- supplies rotating
equipment solutions to the worldwide oil, gas, petrochemical, and
process industries.  The company operates manufacturing facilities
in the United States, France, Germany, Norway, India, and Brazil,
and maintains a network of 26 service and support centers covering
more than 140 countries.

                          *     *     *

As reported in the Troubled Company Reporter on Sept. 6, 2007,
Standard & Poor's Ratings Services assigned its "BB-" bank loan
and recovery ratings to the $500 million senior secured revolving
credit facility due 2012 of Dresser-Rand Group Inc.  The rating
has Stable outlook.


DUNMORE HOMES: Obtains Interim Ok to Hire A&M as Financial Advisor
------------------------------------------------------------------
The United States Bankruptcy Court for the Southern District of
New York has authorized, on an interim basis, Dunmore Homes Inc.
to employ Alvarez & Marsal Securities LLC, as its financial
advisor and investment banker effective as of Nov. 8, 2007.

A&M Securities will be compensated in accordance with the
procedures set forth in the Bankruptcy Code, the Bankruptcy Rules,
and the Local Bankruptcy Rules.

As reported in the Troubled Company Reporter on Nov. 19, 2007,
Dunmore Homes Inc. told the Court that A&M Securities will provide
investment banking services with respect to any potential
restructuring transaction, financing and sale transaction.

Specifically, A&M Securities' services includes:

   a) with respect to any financial advisory services, the firm
      will:

       i) review the Debtor's business, business plan and
          strategic and financial position;

      ii) assist with the formulation, evaluation, implementation
          of various options for a restructuring, financing,
          reorganization, merger, or sale the Debtor or its assets
          or business.

   b) with respect to any restructuring transaction, the firm
      will:

       i) provide financial advisory services to the Debtor in
          connection with developing, and seeking approval for any
          restructuring plan;

      ii) provide financial advisory services to the Debtor in
          connection with any structuring of new securities to be
          issued under a restructuring plan;

     iii) assist the Debtor in negotiations with creditors,
          shareholders and other appropriate parties-in-interest;
          and

      iv) participate in hearing before the Bankruptcy Court with
          respect to matters upon which of the firm has provide
          advice;

   c) with respect to any financing transaction, the firm will:

       i) assist in preparing a private placement memorandum with
          any amendments and supplements thereto;

      ii) assist in identifying and contacting prospective
          investors as well as in soliciting indications of
          interest in a financing transaction among prospective
          investors;

     iii) assist in evaluation indications of interest received
          from prospective investors;

      iv) assist in negotiating the financial terms and structure
          of a financing transactional;

       v) provide other financial advisory services and investment
          banking services reasonably necessary to accomplish the
          foregoing and consummate a financing transaction;

   d) with respect to any sale transaction, the firm will:

       i) assist in preparing any offering memorandum for
          distribution and presentation to prospective purchasers,
          if necessary;

      ii) assist in soliciting interest in a transaction among
          prospective purchasers;

     iii) assist in evaluating proposals received from prospective
          purchasers;

      iv) advise the Debtor as to the structure of any sale
          transaction, including the valuation of any non-cash
          consideration;

       v) assist in negotiating the financial terms and structure
          of any sale transaction; and

      vi) provide other financial advisory services and investment
          banking services reasonable necessary to accomplish the
          foregoing and consummate a sale transaction.

Marc Liebman, a managing director of the firm, assured the Court
that the firm does not hold any interest adverse to the Debtor's
estate is a "disinterested person" as defined in Section 101(14)
of the Bankruptcy Code.

Headquartered in Granite Bay, California, Dunmore Homes Inc. is a
privately-owned homebuilder.  The company filed for Chapter 11
protection on Nov. 8, 2007 (Bankr. S.D.N.Y. Case No. 07-13533).
Maria A. Bove, Esq., and Debra I. Grassgreen, Esq., at Pachulski
Stang Ziehl & Jones LLP, represent the Debtor in its restructuring
efforts.  When the Debtor filed for protection against its
creditors, it listed assets and liabilities of more than
$100 million.

The Debtor's exclusive period to file a plan expires on March 7,
2008. (Dunmore Bankruptcy News, Issue No. 5; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


DUNMORE HOMES: 4 More Creditors Seek Case Transfer to California
----------------------------------------------------------------
Teichert Construction Inc., Aleco Corporation, Granite
Construction Company, and DeSilva Gates Construction L.P. have
joined in the request of Cal Sierra Construction Inc., Pacific
Paving Co. Inc., and Valley Utility Services Inc., to transfer the
venue of the Chapter 11 case of Dunmore Homes Inc., to the Eastern
District of California, Sacramento Division.

Aleco, Granite, and DeSilva are listed among the Debtor's 20
largest unsecured creditors.  They provided goods and services
concerning projects owned by one or more of the Debtor's
subsidiaries.

Teichert is listed as the sixth largest creditor on the Debtor's
list of 20 largest unsecured creditors.  Teichert though never
did business with the Debtor but did business with Dunmore Homes
Inc., a California corporation, and its affiliates, R. Dale
Ginter, Esq., at Downey Brand LLP, in Sacramento, California,
relates, on Teichert's behalf.

Mr. Ginter notes that Dunmore California's business was
overwhelmingly centered in California with a small portion done
in Nevada at one time.

Mr. Ginter points out that on Aug. 30, 2007, a new Dunmore Homes
Inc. was formed in New York and as previously reported, the
assets of Dunmore California were transferred to Dunmore New
York.  Dunmore New York's business address, he contends, is
exactly the same address that Dunmore California provided as its
business address.

The transactions involved from the change of Dunmore California's
name to the creation of Dunmore New York look very much like sham
transactions done for no other reason than to obtain a New York
forum, Mr. Ginter says.  The only "business" reason proffered for
the transactions, he emphasizes, is the tax maneuver to obtain a
large tax refund for Sid Dunmore so that he can then arguably pay
his debt to the Debtor, subject to unspecified offsets.

Mr. Ginter also notes that a New York venue is 3000 miles from
any place that Dunmore ever did business.  "It is designed to be
inconvenient," he contends, "for the creditors so as to
discourage, if not preclude, their active participation in this
Chapter 11 proceeding."

The reorganization process is about negotiation with, and the
participation of, the creditors, Mr. Ginter maintains.  This
attempt to discourage creditor participation should not be
tolerated by the Court, he says.

As reported in the Troubled Company Reporter on Nov. 29, 2007,
Cal Sierra Construction Inc., Pacific Paving Co. Inc., and
Valley Utility Services Inc., told the Court that the Debtor has
no present domestic business activity or presence outside of
California, nor does it maintain any domestic offices or employees
outside of California.

Headquartered in Granite Bay, California, Dunmore Homes Inc. is a
privately-owned homebuilder.  The company filed for Chapter 11
protection on Nov. 8, 2007 (Bankr. S.D.N.Y. Case No. 07-13533).
Maria A. Bove, Esq., and Debra I. Grassgreen, Esq., at Pachulski
Stang Ziehl & Jones LLP, represent the Debtor in its restructuring
efforts.  When the Debtor filed for protection against its
creditors, it listed assets and liabilities of more than
$100 million.

The Debtor's exclusive period to file a plan expires on March 7,
2008. (Dunmore Bankruptcy News, Issue No. 5; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


DUNMORE HOMES: Wants to Sell 161 Acres of Sacramento Real Estate
----------------------------------------------------------------
Dunmore Homes Inc. asks the United States Bankruptcy Court for the
Southern District of New York for authority to sell 161 acres of
real estate located in Sacramento County, Calif. -- the Stone
Mitigation Property -- to the Sacramento Area Flood Control Agency
for $4,360,000, free and clear of all liens, claims, encumbrances,
and interests, and subject to higher and better offers.

                 The Stone Mitigation Property

The Stone Mitigation Property was purchased by Dunmore Homes Inc.
in June 2004 for $2,259,640, Richard M. Pachulski, Esq., at
Pachulski Stang Ziehl & Jones LLP, in New York, relates.  The
purchase was made in conjunction with the acquisition of land in
the Natomas Basin of Sacramento by Dunmore Land Company LLC, a
company wholly owned by Sidney Dunmore.

Specifically, Dunmore Land acquired land or options to purchase
land in order to create a master-planned community in the Natomas
Basin area of Sacramento that was anticipated to be sold to
Dunmore California for development.

In the Natomas Basin area of Sacramento, Mr. Pachulski notes, the
developer of the land is required to secure mitigation land to
offset the impact to wildlife and agricultural resources prior to
developing the land.  That developer must dedicate the land to
the Natomas Basin Conservancy.  The Conservancy requires that the
mitigation land be purchased within the Natomas Basin and be used
for development mitigation only on properties with the Natomas
Basin.

In anticipation of the purchase of the Natomas Development from
Dunmore Land, Dunmore California acquired the Stone Mitigation
Property.  Dunmore California secured approval from the Natomas
Basin Conservancy on the acceptability of the Stone Mitigation
Property as mitigation land.

The Stone Mitigation Property was transferred to the Debtor in
September 2007 in connection with the Debtor's acquisition of
substantially all of the assets of Dunmore California.

The property has limited uses because it is located in a
historically agricultural zone within unincorporated Sacramento
County and is in an area lacking the major infrastructure
necessary to support industrial, commercial, or residential
development, Mr. Pachulski contends.

The property, he adds, is situated in an area of the Natomas
Basin that includes a number properties acquired by the
Conservancy for the preservation of wildlife and wetland
habitats.  A number of properties within close proximity to the
Stone Mitigation Property are owned by the Conservancy.

The property is also within the flight path of the Sacramento
International Airport, which creates another significant
impediment to residential development, Mr. Pachulski adds.

                        Marketing Efforts

Because of its limited uses, the Debtor began marketing the
property in August 2007.  The Debtor initially approached Mr.
Dunmore and Dunmore Land with respect to their interest in
purchasing the property.  However, due to the recent rulings from
the Federal Emergency Management Agency placing the Natomas
Development within the 100-year flood plain that will delay
development of the Natomas Development for the foreseeable
future, Mr. Dunmore and Dunmore Land declined.

While marketing efforts were ongoing, the Debtor became aware
that the Sacramento Area Flood Control Agency needed to purchase
mitigation land to secure the soil necessary to complete proposed
levee improvements.  The Debtor thus contacted SAFCA.

Upon appraisal, SAFCA valued the land $27,000 per acre and
subsequently made an to purchase the property at that price.

SAFCA's proposed purchase price was higher than any other offers
received, Mr. Pachulski says.  Accordingly, the Debtor negotiated
an agreement with SAFCA for the purchase of the property.  The
SAFCA Board of Directors approved the purchase agreement on
Nov. 29, 2007.

Under the agreement, SAFCA will pay the Debtor $4,360,000 for the
Stone Mitigation Property.  SAFCA will provide the Debtor a
$100,00 deposit.

The parties anticipate closing the proposed sale no later than
Jan. 31, 2008.  A condition to the closing is the commitment
for the issuance of a title policy by Dec. 7, 2007.

The agreement also provides for damages for breach of
representations and warranties up to $100,000.

                      Liens and Encumbrances

Mr. Pachulski tells the Court that the Stone Mitigation Property
is encumbered by a first priority lien in favor of Sacramento
Valley Farm Credit for $1,529,567.  Mr. Dunmore, as DIP lender,
also has a junior lien on the property to secure advances under
the DIP financing facility.

Thus, the Debtor asks the Court for permission to pay, from the
net proceeds of the sale at closing:

   (i) the claims of Sacramento Valley Farm Credit;

  (ii) the claims of the DIP Lender;

(iii) appraisal costs incurred by Sacramento Valley Farm Credit;

  (iv) real estate taxes and assessments through the closing Date;
       and

   (v) title policy costs and half of the costs of escrow.

                       Bidding Procedures

To maximize the value realized for the property, the Debtor seeks
to subject the sale of the property to higher and better bids.

The Debtor intends to provide notice of the proposed sale to
SAFCA to all known interested purchasers as identified by KB
International.  It will cause to be published print notice of the
proposed Sale.  The notice will state that the sale is subject to
higher and better offers and subject to the Court's approval.

Interested parties can bid for the roperty until Dec. 13, 2007.

If a higher and better bid is received by the bid deadline, the
Debtor will conduct an auction for the property on December 14.
The bidder with the higher and better offer will be required to
deposit $100,000 in cash with the Debtor and to execute a
purchase agreement.

The Debtor may require any person desiring to make a bid at the
auction to provide financial assurances satisfactory to the
Debtor, prior to the auction.

At the auction, a bidder must bid for all of the Stone Mitigation
Property.  The initial overbid will be at least $28,000 per acre.
Succeeding bid increments must be at least $1,000 per acre higher
than the prior highest and best bid.

Any bid over the initial bid must be subject to the bidder's
offer remaining in effect as a back-up bid through the date that
is five business days after the scheduled closing date under the
successful bidder's purchase agreement.  The Debtor will hold the
back-up bidder's deposit until the sale to the successful bidder
has closed.

The Debtor asks the Court to approve the proposed bidding
procedures.

Headquartered in Granite Bay, California, Dunmore Homes Inc. is a
privately-owned homebuilder.  The company filed for Chapter 11
protection on Nov. 8, 2007 (Bankr. S.D.N.Y. Case No. 07-13533).
Maria A. Bove, Esq., and Debra I. Grassgreen, Esq., at Pachulski
Stang Ziehl & Jones LLP, represent the Debtor in its restructuring
efforts.  When the Debtor filed for protection against its
creditors, it listed assets and liabilities of more than
$100 million.

The Debtor's exclusive period to file a plan expires on March 7,
2008. (Dunmore Bankruptcy News, Issue No. 5; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


DVI RECEIVABLES: Fitch Withdraws Ratings on S. 1999-2 Notes
-----------------------------------------------------------
Fitch Ratings has taken these actions on the long-term and
Distressed Recovery ratings for the DVI transactions listed below:

DVI Receivables X LLC, series 1999-2
  -- Class A-4, B, C, D and E notes at 'C/DR6' withdrawn*;
* The notes are beyond their final legal maturity date and
recovery expectations are low.

DVI Receivables XI LLC, series 2000-1
  -- Class A-4 notes downgraded to 'C/DR6' from 'CC/DR3';
  -- Class B, C, D and E notes remain at 'C/DR6'.

DVI Receivables XII LLC, series 2000-2
  -- Class A-4 notes downgraded to 'CC/DR5' from 'CCC/DR1';
  -- Class B notes downgraded to 'C/DR6' from 'CC/DR4';
  -- Class C notes downgraded to 'C/DR6' from 'CC/DR5';
  -- Class D and E notes remain at 'C/DR6'.

DVI Receivables XIV LLC, series 2001-1
  -- Class A-4 notes remain at 'CC'; DR revised to 'DR2' from
     'DR1';
  -- Class B notes downgraded to 'C/DR5' from 'CC/DR4';
  -- Class C and D notes downgraded to 'C/DR6' from 'CC/DR5';
  -- Class E notes remain at 'C/DR6'.

DVI Receivables XVI LLC, series 2001-2
  -- Class A-3 and A-4 notes remain at 'CC'; DR revised to
     'DR4' from 'DR3';
  -- Class B, C, D and E notes remain at 'C/DR6'.

DVI Receivables XVII LLC, series 2002-1
  -- Class A-3a and A-3b notes downgraded to 'CC/DR5' from
     'CCC/DR4';
  -- Class B, C, D and E notes remain at 'C/DR6'.

DVI Receivables XVIII LLC, series 2002-2
  -- Class A-3a and A-3b notes affirmed at 'CCC/DR1';
  -- Class B notes remain at 'CC/DR4';
  -- Class C notes downgraded to 'C/DR6' from 'CC/DR6';
  -- Class D and E notes remain at 'C/DR6'.

DVI Receivables XIX LLC, series 2003-1
  -- Class A-3a and A-3b notes downgraded to 'CC/DR4' from
     'CCC/DR3';
  -- Class B, C-1, C-2, D-1, D-2, E-1 and E-2 notes remain at
     'C/DR6'.

Fitch's actions are based on continued loan performance
deterioration as reflected in the servicer reports dated November
14, 2007.  Since last review on June 8, 2007, Fitch noted that
large delinquent balances in all transactions have rolled into
default.  In addition, the cumulative interest shortfalls in four
of the transactions have grown.  Using assumptions consistent with
historical DVI securitization performance, Fitch ran a series of
cash flow runs for each transaction to determine the appropriate
rating movements, if any.

Fitch will continue to closely monitor performance of the
transactions, will have regular contact with the servicer, US Bank
Portfolio Services (USBPS), and may upgrade, downgrade or withdraw
ratings as appropriate.


FAIRFAX FINANCIAL: Buys CanWest Global's 1.8 Mil. Voting Shares
---------------------------------------------------------------
Fairfax Financial Holdings Limited has acquired, through its
subsidiaries, 1,825,400 subordinate voting shares of CanWest
Global Communications Corp., bringing its total holdings in the
company to 11,036,200 subordinate voting shares or approximately
11.1% of the total subordinate voting shares outstanding.

The shares were purchased through the facilities of the Toronto
Stock Exchange for investment purposes.  Fairfax continually
reviews its investment alternatives and may purchase additional
CanWest Global shares from time to time in accordance with
applicable laws.

Based in Toronto, Canada, Fairfax Financial Holdings Limited (TSX:
FFH) (NYSE: FFH) -- http://www.fairfax.ca/-- is a financial
services holding company which, through its subsidiaries, is
engaged in property and casualty insurance and reinsurance,
investment management and insurance claims management.

                          *     *     *

Moody's Invetor Service placed Fairfax Financial Holdings Ltd.'s
senior unsecured debt rating at 'Ba3' in December 2002.  The
rating still hold to date with a stable outlook.


FAIRVIEW PARK: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Fairview Park Apartments L.P.
        1210 West 10th Street
        Anderson, IN 46016

Bankruptcy Case No.: 07-11864

Type of Business: The Debtor operates an apartment complex.

Chapter 11 Petition Date: November 30, 2007

Court: Southern District of Indiana (Indianapolis)

Judge: Basil H. Lorch III

Debtor's Counsel: Alicia M. Chandler, Esq.
                  Martha R. Lehman, Esq.
                  Krieg Devault LLP
                  One Indiana Square, Suite 2800
                  Indianapolis, IN 46204
                  Tel: (317) 238-6286
                  Fax: (317) 636-1507

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's list of its 20 Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
DCR Mortgage III, Sub I, LLC     1st & 2nd Mortgage    $2,488,815
c/o Christine Jacobson           on Real Estate        Unsecured:
Wooden & McLaughlin, LLP                                 $988,815
One Indiana Square, Suite 1800
Indianapolis, IN 46204

Urban League of Madison County   3rd Mortgage on         $613,000
c/o Offer Korin                  Real Estate
Katz & Korin, P.C.
334 North Senate Avenue
Indianapolis, IN 46204

Scioto Development Company       Management Fees         $175,000
c/o Offer Korin
Katz & Korin, P.C.
334 North Senate Avenue
Indianapolis, IN 46204

Porter Wright Morris and         Attorney Fees            $11,000
Arthur LLP

Treasurer of Madison County      Real Estate Taxes        $27,349

Vectren Energy Delivery          Electricity              $18,739

Fentress Brown CPA's and         Financial Audit           $7,650
Associates

Anderson City Utilities          Water & Gas               $3,065

Best Way Disposal                Garbage Removal           $1,699

Compliance Management Services   Compliance Services       $1,380

Office Depot                     Office Supplies           $1,203

Gold Seal Pest Control           Pest Control                $930

Republic Waste Services          Garbage Removal             $577

Arab Pest Control                Pest Control                $500

Personal Touch Lawn Care         Lawn Care                   $500

Hoppies Heating                  Heating Repairs             $438

Anderson Glass & Mirror Inc.     Glass Replacement           $168

Royal Cleaners                   Carpet Cleaning Services    $125

CBC Innovis                      Credit Reports              $118

Pitney Bowes                     Service Agreement            $72


FAMILY ROOM: Sept. 30 Balance Sheet Upside-Down by $2.9 Million
---------------------------------------------------------------
Family Room Entertainment Corp.'s consolidated balance sheet at
Sept. 30, 2007, showed $7.7 million in total assets and
$10.6 million in total liabilities, resulting in a $2.9 million
total shareholders' deficit.

The company reported a net loss of $147,016 on revenues of
$309,167 for the first quarter ended Sept. 30, 2007, compared with
a net loss of $862,558 on revenues of $25,000 in the same period
ended Sept. 30, 2006.

The increase in revenues was mainly attributed to increase in film
revenues.

Costs relating to the operating revenues were $147,643 for the
three months ending Sept. 30, 2007, as compared to $451,586 for
the three months ending Sept. 30, 2006, a decrease of $303,943 or
67.3%.  These costs mainly consist of film amortization and write
off of film costs.

Other income was $38,456 for the quarter ended Sept. 30, 2007, as
compared to other expense of $134,930 for the three months ended
Sept. 30, 2006.  The increase in other income was primarily the
result of an increase in income from the change in value of the
derivative financial instruments of $77,636 and a decrease in
interest expense of $95,429.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?260f

                       Going Concern Doubt

PMB Helin Donovan LLP expressed substantial doubt about Family
Room Entertainment Corp.'s ability to continue as a going
concern following completion of its audit of the company's
consolidated financial statements for the fiscal year ended
June 30, 2007.

The auditor reported that the company experienced a significant
net loss in the year ending June 30, 2007, and generated negative
cash flows from operating activities, and as of June 30, 2007, has
an accumulated deficit of $23,275,354.

                        About Family Room

Headquartered in Hollywood, Calif., Family Room Entertainment
Corp. (OTC BB: FMLY) -- http://www.fmlyroom.com-- with its
subsidiaries, Emmett Furla Films Productions, Emmett Furla Films
Distribution and EFF Independent, develops, produces and performs
production related services for the entertainment industry.  The
company derives its income from producer fees, production
consulting and service fees and royalties as well as participation
in the profits, if any, of certain of the pictures it produces.


FEDERAL GYPSUM: Minister MacIsaac Wary of Additional Investment
---------------------------------------------------------------
Angus MacIsaac, Economic Development Minister of the Province of
Novia Scotia, said that he has yet to see evidence that would
convince him to put more money into Federal Gypsum Co., Brian
Flinn of The Daily News reports.

The company has been under bankruptcy protection since September
2007 and was in court last week to look for parties willing to
lend it money in order to continue operations until January 2008,
the report adds.

Mr. Flinn relates that government agencies had extended a
$9 million assistance to the company in 2004.  However, expenses
for the construction of the wallboard factory went up forcing
government agencies to put more money.  According to Mr. Flinn,
the government doled out $12 million in January and $1.5 million
in May.

The company owes $32 million to 90 creditors with Nova Scotia
Business Inc. having the largest claim of $5.5 million, Mr. Flinn
adds.  The Economic Development meanwhile is owed
$2.5 million.

Mr. Flinn discloses, citing Mr. MacIsaac, that the province's
investment in the company is secured even if the plan is sold.

Federal Gypsum Company -- http://www.federalgypsum.com/--
manufactures high quality PlasterRock(R) brand gypsum wallboard
from its state-of-the-art production facility in Point Tupper,
Nova Scotia.  The plant uses exclusively Nova Scotia gypsum and
Nova Scotia natural gas.  PlasterRock(R) is produced with 100%
recycled paper.


FEDERAL-MOGUL: Court Dismisses 75 Chapter 11 Cases
--------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware ruled that
the 75 Non-Plan Debtors' Chapter 11 cases will be dismissed
without prejudice as of the effective date of Federal-Mogul Corp.
and its debtor-affiliates' Plan of Reorganization.

Nothing in the Court's order relieves the Non-Plan Debtors from
their obligations to file monthly operating reports with the
Court or to pay the U.S. Trustee's fees pursuant through the
effective date of their cases' dismissals, Judge Fitzgerald
clarifies.

The Non-Plan Debtors are:

   * AE Dayton Services Limited
   * AE Group Machines Limited
   * AE Holdings Limited
   * AE International Limited
   * AE Limited
   * AE Sales (Africa) Limited
   * Amber Supervision Limited
   * Associated Engineering Group Limited
   * Awncast Limited, Bearings (North-Western) Limited
   * Colvan Rubber Co. Limited
   * Contact 100 Limited
   * Cosmid Limited
   * Cranhold Limited
   * Dealings Limited
   * Dumplington Services Limited
   * E W Engineering Limited
   * Engineering Components Limited
   * Federal-Mogul Acquisition Company Limited
   * Federal-Mogul Brake Systems Limited
   * Federal-Mogul Export Services Limited
   * Federal-Mogul U.K. Limited
   * FHE Technology Limited
   * FP Diesel Limited
   * G.B. Tools & Components Exports Limited
   * Genthope Limited, High Precision Equipment Limited
   * Inblot Limited
   * Instantwonder Limited
   * Kings Park Housing Limited
   * Lalton Limited
   * Lanoth Precision Equipment Limited
   * Leeds Piston Ring & Engineering Co. Limited
   * M.T.A. (Kettering) Limited
   * Mantro Engineering Co. Limited
   * Mobile Distributing (Spares) Limited
   * Moores Plastic Units Limited
   * Ontall Limited
   * Payen (Europe) Limited
   * Pecal Limited
   * Presswork-Components Limited
   * Sintration Eight Limited
   * Sourcelook Limited
   * Specialloid Limited
   * STS (1996) Limited
   * T&N Shelf Eight Limited
   * T&N Fifteen Limited
   * T&N Shelf Five Limited
   * T&N Shelf Four Limited
   * T&N Shelf Fourteen Limited
   * T&N Shelf Nine Limited
   * T&N Shelf Six Limited
   * T&N Shelf Sixteen Limited
   * T&N Shelf Ten Limited
   * T&N Shelf Thirteen Limited
   * T&N Shelf Thirty Limited
   * T&N Shelf Thirty One Limited
   * T&N Shelf Thirty Three Limited
   * T&N Shelf Twenty-Eight Limited
   * T&N Shelf Twenty Five Limited
   * T&N Shelf Twenty Four Limited
   * T&N Shelf Twenty Nine Limited
   * T&N Shelf Twenty-Two Limited
   * T&N Shelf Two Limited
   * T&N Trade Marks Limited
   * T&N Welfare Trust Limited
   * TBA Belting (Residual) Limited
   * Telford Rubber Processors Limited
   * The British Piston Ring Company Limited
   * Tinblo Limited
   * Touchdown Adhesive Products Limited
   * Tynoda Limited
   * Vanwall Cars Limited
   * Wellworthy Property Developments Limited
   * William C. Jones (Polymers) Limited

                       About Federal-Mogul

Based in Southfield, Michigan, Federal-Mogul Corporation --
http://www.federal-mogul.com/-- is an automotive parts company
with worldwide revenue of some $6 billion.  Federal-Mogul also has
operations in Mexico and the Asia Pacific Region, which includes,
Malaysia, Australia, China, India, Japan, Korea, and Thailand.

The Company filed for chapter 11 protection on Oct. 1, 2001
(Bankr. Del. Case No. 01-10582).  Lawrence J. Nyhan Esq., James F.
Conlan Esq., and Kevin T. Lantry Esq., at Sidley Austin Brown &
Wood, and Laura Davis Jones Esq., at Pachulski, Stang, Ziehl &
Jones, P.C., represent the Debtors in their restructuring efforts.
When the Debtors filed for protection from their creditors, they
listed $10.15 billion in assets and $8.86 billion in liabilities.
Federal-Mogul Corp.'s U.K. affiliate, Turner & Newall, is based at
Dudley Hill, Bradford.  Peter D. Wolfson, Esq., at Sonnenschein
Nath & Rosenthal; and Charlene D. Davis, Esq., Ashley B. Stitzer,
Esq., and Eric M. Sutty, Esq., at The Bayard Firm represent the
Official Committee of Unsecured Creditors.

On March 7, 2003, the Debtors filed their Joint Chapter 11 Plan.
They submitted a Disclosure Statement explaining that plan on
April 21, 2003.  They submitted several amendments and on June 6,
2004, the Bankruptcy Court approved the Third Amended Disclosure
Statement for their Third Amended Plan.  On July 28, 2004, the
District Court approved the Disclosure Statement.  The estimation
hearing began on June 14, 2005.  The Debtors submitted a Fourth
Amended Plan and Disclosure Statement on Nov. 21, 2006, and the
Bankruptcy Court approved that Disclosure Statement on Feb. 6,
2007.

The Bankruptcy Court confirmed the Fourth Amended Plan on Nov. 8,
2007.  On Nov. 13, 2007, the Bankruptcy Court's confirmation of
the Fourth Amended Plan was affirmed by the District Court.

(Federal-Mogul Bankruptcy News, Issue No. 155; Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000).

                         *     *     *

As reported in the Troubled Company Reporter on Nov. 30, 2007,
Moody's Investors Service assigned prospective ratings to the
reorganized Federal-Mogul Corporation -- Corporate Family, (P)Ba3.
In a related action Moody's assigned a (P)Ba2 rating to new senior
secured credit facilities.  The outlook is stable.  The (P)Ba3
Corporate Family Rating is based on the company's expected
emergence from Chapter 11 with its asbestos liabilities eliminated
and moderately reduced debt levels that should be readily serviced
with the company's strong business in the auto parts sector.


FIRST FRANKLIN: Fitch Takes Rating Actions on Various Classes
-------------------------------------------------------------
Fitch Ratings has taken these rating actions on five First
Franklin mortgage pass-through certificates.  Affirmations total
$2 billion and downgrades total $141.4 million.  In addition,
approximately $12.3 million is placed on Rating Watch Negative.
Break Loss percentages and Loss Coverage Ratios for each class is
included with the rating actions as:

Series 2005-FF1
  -- $60 million class A affirmed at 'AAA' (BL: 90.5, LCR:
     10.34);
  -- $84.5 million class M-1 affirmed at 'AA+' (BL: 57.29, LCR:
     6.55);
  -- $59.2 million class M-2 affirmed at 'A' (BL: 20.21, LCR:
     2.31);
  -- $17.2 million class M-3 affirmed at 'A' (BL: 17.55, LCR:
     2.01);
  -- $15.4 million class B-1 affirmed at 'A-' (BL: 15.21, LCR:
     1.74);
  -- $12.3 million class B-2 affirmed at 'BBB+' (BL: 13.37,
     LCR: 1.53);
  -- $6.7 million class B-3 affirmed at 'BBB' (BL: 12.38, LCR:
     1.41);
  -- $12.3 million class B-4 is rated 'BB+' and placed on
     Rating Watch Negative (BL: 10.95, LCR: 1.25).

Deal Summary
  -- Originators: First Franklin (100%);
  -- 60+ day Delinquency: 21.06%;
  -- Realized Losses to date (% of Original Balance): 0.92%;
  -- Expected Remaining Losses (% of Current Balance): 8.75%;
  -- Cumulative Expected Losses (% of Original Balance): 3.02%.

Series 2005-FF3
  -- $107.4 million class A affirmed at 'AAA' (BL: 67.35, LCR:
     7.87);
  -- $27.7 million class M1 affirmed at 'AA+' (BL: 56.78, LCR:
     6.63);
  -- $25.4 million class M2 affirmed at 'AA' (BL: 47.07, LCR:
     5.5);
  -- $15 million class M3 affirmed at 'AA-' (BL: 38.51, LCR:
     4.5);
  -- $13.8 million class M4 affirmed at 'A+' (BL: 26.51, LCR:
     3.1);
  -- $12.7 million class M5 affirmed at 'A' (BL: 23.18, LCR:
     2.71);
  -- $11.9 million class M6 affirmed at 'A-' (BL: 20.15, LCR:
     2.35);
  -- $10 million class M7 affirmed at 'BBB+' (BL: 17.59, LCR:
     2.05);
  -- $9.2 million class M8 affirmed at 'BBB' (BL: 15.27, LCR:
     1.78);
  -- $7.7 million class M9 affirmed at 'BBB' (BL: 13.35, LCR:
     1.56);
  -- $4.6 million class B1 affirmed at 'BBB-' (BL: 12.29, LCR:
     1.44);
  -- $3 million class B2 affirmed at 'BBB-' (BL: 11.75, LCR:
     1.37).

Deal Summary
  -- Originators: First Franklin (100%);
  -- 60+ day Delinquency: 19.43%;
  -- Realized Losses to date (% of Original Balance): 0.81%;
  -- Expected Remaining Losses (% of Current Balance): 8.56%;
  -- Cumulative Expected Losses (% of Original Balance): 3.74%.

Series 2005-FF4
  -- $253.2 million class A affirmed at 'AAA' (BL: 60.96, LCR:
     9.58);
  -- $66.9 million class M-1 affirmed at 'AA+' (BL: 41.91, LCR:
     6.59);
  -- $33.7 million class M-2 affirmed at 'AA' (BL: 37.86, LCR:
     5.95);
  -- $23.5 million class M-3 affirmed at 'AA-' (BL: 33.25, LCR:
     5.23);
  -- $22.9 million class M-4 affirmed at 'A+' (BL: 23.05, LCR:
     3.62);
  -- $23.5 million class M-5 affirmed at 'A' (BL: 19.69, LCR:
     3.1);
  -- $16.5 million class M-6 affirmed at 'A-' (BL: 17.35, LCR:
     2.73);
  -- $15.3 million class M-7 affirmed at 'BBB+' (BL: 15.20,
     LCR: 2.39);
  -- $14.6 million class M-8 affirmed at 'BBB' (BL: 13.06, LCR:
     2.05);
  -- $12.1 million class M-9 affirmed at 'BBB-' (BL: 11.26,
     LCR: 1.77);
  -- $9.5 million class B-1 affirmed at 'BB+' (BL: 9.92, LCR:
     1.56).

Deal Summary
  -- Originators: First Franklin (100%);
  -- 60+ day Delinquency: 19.00%;
  -- Realized Losses to date (% of Original Balance): 0.92%;
  -- Expected Remaining Losses (% of Current Balance): 6.36%;
  -- Cumulative Expected Losses (% of Original Balance): 3.54%.

Series 2005-FF5
  -- $122.5 million class A affirmed at 'AAA' (BL: 67.52, LCR:
     7.40);
  -- $38.5 million class M-1 affirmed at 'AA+' (BL: 45.95, LCR:
     5.04);
  -- $28.9 million class M-2 affirmed at 'AA' (BL: 29.77, LCR:
     3.26);
  -- $10 million class M-3 affirmed at 'AA-' (BL: 26.86, LCR:
     2.95);
  -- $16.5 million class M-4 affirmed at 'A+' (BL: 22.35, LCR:
     2.45);
  -- $10.4 million class M-5 affirmed at 'A' (BL: 19.60, LCR:
     2.15);
  -- $6.9 million class M-6 affirmed at 'A-' (BL: 17.83, LCR:
     1.96);
  -- $11.1 million class M-7 affirmed at 'BBB' (BL: 14.94, LCR:
     1.64);
  -- $3.8 million class M-8 affirmed at 'BBB-' (BL: 13.90, LCR:
     1.52);
  -- $6.9 million class M-9 is rated 'BB' and placed on Rating
     Watch Negative (BL: 12.17, LCR: 1.33);
  -- $5 million class M-10 is rated 'BB-' and placed on Rating
     Watch Negative (BL: 10.95, LCR: 1.20);
  -- $6.5 million class B is rated 'B' and placed on Rating
     Watch Negative (BL: 9.74, LCR: 1.07).

Deal Summary
  -- Originators: First Franklin (100%);
  -- 60+ day Delinquency: 22.96%;
  -- Realized Losses to date (% of Original Balance): 0.90%;
  -- Expected Remaining Losses (% of Current Balance): 9.12%;
  -- Cumulative Expected Losses (% of Original Balance): 4.09%.

Series 2005-FFH3
  -- $291.8 million class A affirmed at 'AAA' (BL: 65.02, LCR:
     5.14);
  -- $73.8 million class M-1 affirmed at 'AA+' (BL: 51.32, LCR:
     4.05);
  -- $37.8 million class M-2 affirmed at 'AA' (BL: 43.51, LCR:
     3.44);
  -- $30.6 million class M-3 affirmed at 'AA-' (BL: 39.84, LCR:
     3.15);
  -- $30.6 million class M-4 affirmed at 'A+' (BL: 35.51, LCR:
     2.8);
  -- $28.2 million class M-5 affirmed at 'A' (BL: 31.11, LCR:
     2.46);
  -- $27 million class M-6 affirmed at 'A-' (BL: 26.77, LCR:
     2.11);
  -- $24.6 million class M-7 affirmed at 'BBB+' (BL: 22.74,
     LCR: 1.8);
  -- $21 million class M-8 affirmed at 'BBB' (BL: 19.31, LCR:
     1.53);
  -- $11.4 million class M-9 affirmed at 'BBB' (BL: 17.50, LCR:
     1.38);
  -- $12.6 million class M-10 affirmed at 'BBB-' (BL: 15.52,
     LCR: 1.23);
  -- $12.6 million class B-1 downgraded to 'B+' from 'BB+' (BL:
     11.38, LCR: 0.83);
  -- $12 million class B-2 downgraded to 'B' from 'BB' (BL:
     10.51, LCR: 0.83);
  -- $11.4 million class B-3 downgraded to 'C/DR5' from 'BB-'
     (BL: 9.40, LCR: 0.74);
  -- $16.8 million class B-4 downgraded to 'C/DR6' from 'B+'
     (BL: 8.23, LCR: 0.65).

Deal Summary
  -- Originators: First Franklin (100%);
  -- 60+ day Delinquency: 23.53%;
  -- Realized Losses to date (% of Original Balance): 1.86%;
  -- Expected Remaining Losses (% of Current Balance): 13.76%;
  -- Cumulative Expected Losses (% of Original Balance): 9.30%.

The rating actions are based on changes that Fitch has made to its
subprime loss forecasting assumptions.  The updated assumptions
better capture the deteriorating performance of pools from 2007,
2006 and late 2005 with regard to continued poor loan performance
and home price weakness.


FIRST FRANKLIN: Fitch Cuts Ratings to BB on Four Cert. Classes
--------------------------------------------------------------
Fitch Ratings has affirmed 20 classes and downgraded 13 classes
from these First Franklin Mortgage Loan trusts:

Series 2004-FF4
  -- $24.1 million class A affirmed at 'AAA';
  -- $34.3 million class M-1 affirmed at 'AA';
  -- $30.7 million class M-2 affirmed at 'A';
  -- $9.7 million class M-3 affirmed at 'A-';
  -- $6.4 million class B-1 affirmed at 'BBB+';
  -- $8.1 million class B-2 downgraded to 'BB' from 'BBB';
  -- $4.8 million class B-3 downgraded to 'C/DR4' from 'BBB-'.

Series 2004-FF6
  -- $25.4 million class A affirmed at 'AAA';
  -- $57.4 million class M-1 affirmed at 'AA';
  -- $47.8 million class M-2 affirmed at 'A';
  -- $13.2 million class M-3 affirmed at 'A-';
  -- $13.2 million class B-1 affirmed at 'BBB+';
  -- $11.1 million class B-2 affirmed at 'BBB';
  -- $12.7 million class B-3 downgraded to 'BB' from 'BBB-';
  -- $5.8 million class B-4 downgraded to 'CCC/DR2' from 'BB+'.

Series 2004-FFH3
  -- $38.2 million class A affirmed at 'AAA';
  -- $71.2 million class M-1 affirmed at 'AA+';
  -- $45.7 million class M-2 is rated 'AA' and placed on Rating
     Watch Negative;
  -- $26.2 million class M-3 is rated 'AA-' and placed on
     Rating Watch Negative;
  -- $22.5 million class M-4 is rated 'A+' and placed on Rating
     Watch Negative;
  -- $22.5 million class M-5 downgraded to 'BBB' from 'A';
  -- $18.7 million class M-6 downgraded to 'BBB-' from 'A-';
  -- $18.7 million class M-7 downgraded to 'BB+' from 'BBB+';
  -- $15.7 million class M-8 downgraded to 'BB' from 'BBB' and
     removed from Rating Watch Negative;
  -- $15 million class M-9 downgraded to 'B' from 'BB-';
  -- $7.9 million class B-1 downgraded to 'C/DR5' from 'B+'.

Series 2004-FFH4
  -- $16.9 million class A affirmed at 'AAA';
  -- $37.3 million class M-1 affirmed at 'AA+';
  -- $31.4 million class M-2 affirmed at 'AA';
  -- $9.1 million class M-3 affirmed at 'AA-';
  -- $14.2 million class M-4 affirmed at 'A+';
  -- $11.3 million class M-5 affirmed at 'A';
  -- $9.8 million class M-6 affirmed at 'A-';
  -- $11.7 million class M-7 is rated 'BBB+' and placed on
     Rating Watch Negative;
  -- $8.7 million class M-8 is rated 'BBB+' and placed on
     Rating Watch Negative;
  -- $8.7 million class M-9 is rated 'BBB' and remains on
     Rating Watch Negative;
  -- $10.2 million class M-10 downgraded to 'BB' from 'BBB' and
     remains on Rating Watch Negative;
  -- $5.1 million class M-11 downgraded to 'B' from 'BB-' and
     placed on Rating Watch Negative;
  -- $9.8 million class B-1 downgraded to 'CC/DR3' from 'B+'.

The affirmations affect approximately $513.8 million in
outstanding certificates and reflect adequate relationships of
credit enhancement to future loss expectations.  The downgrades
reflect the deterioration in the relationship of CE to future loss
expectations and affect $155.4 million in outstanding
certificates.  In addition, Rating Watch Negative affects $139.1
million of the outstanding certificates.

The aforementioned transactions are experiencing higher
delinquencies which eventually result in increased losses.
Generally the monthly losses are greater than the available excess
spread, which has caused the overcollateralization amount to
decline below the target amount.  The deficit between target and
actual OC ranges from approximately $1 million (series 2004-FF4)
to over $10 million (2004-FFH4).  The OC has been completely
exhausted in series 2004-FFH3.  This decline in credit enhancement
has put negative pressure on the subordinate bonds.

The above trusts consist primarily of fixed and adjustable rate
first liens extended to sub-prime borrowers on primarily one- to
four-family residential properties.  Currently the transactions
are between 34 months-40 months seasoned.  As of October
distribution date loans 60 days or more delinquent range between
14%-32%.  The cumulative losses on these pools are between 0.76%
and 2.58% of their respective original collateral balances.

The mortgage loans are being serviced by various entities which
include Countrywide Home Loan Servicing ('RPS1-' Rating Watch
Evolving rated by Fitch), Saxon Mortgage Securities Corp.
('RPS2+') and Select Portfolio Servicing, Inc. ('RPS2+').


FIRST FRANKLIN: Moody's Junks Ratings on 10 Cert. Classes
---------------------------------------------------------
Moody's Investors Service has downgraded 16 certificates and
placed on review for possible downgrade 11 certificates from two
transactions issued by First Franklin Mortgage Loan Trust.  All
transactions are backed by second lien loans.  The certificates
were downgraded and placed on review for possible downgrade
because the bonds' credit enhancement levels, including excess
spread and subordination, were too low compared to the current
projected loss numbers at the previous rating levels.

Substantial pool losses over the last few months in many of the
deals have continued to erode credit enhancement available to the
mezzanine and senior certificates.  Despite the large amount of
write-offs due to losses, delinquency pipelines have remained high
as borrowers continue to default.  The actions reflect Moody's
expectation that the significant delinquency pipelines will have a
further negative impact on the credit support for the senior and
mezzanine certificates.

Complete rating actions are:

Issuer: First Franklin Mortgage Loan Trust 2006-FFA

  -- Cl.  A1, Placed on Review for Possible Downgrade,
     currently Aaa
  -- Cl.  A2, Placed on Review for Possible Downgrade,
     currently Aaa
  -- Cl.  A3, Placed on Review for Possible Downgrade,
     currently Aaa
  -- Cl.  A4, Placed on Review for Possible Downgrade,
     currently Aaa
  -- Cl.  M1, Placed on Review for Possible Downgrade,
     currently Aa1
  -- Cl.  M2, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl.  M3, Downgraded to Baa3 from A2
  -- Cl.  M4, Downgraded to Ba1 from Baa1
  -- Cl.  M5, Downgraded to B1 from Baa2
  -- Cl.  M6, Downgraded to B3 from Baa3
  -- Cl.  M7, Downgraded to Caa2 from Ba1
  -- Cl.  M8, Downgraded to Ca from Ba2
  -- Cl.  M9, Downgraded to C from Ba3
  -- Cl.  B1, Downgraded to C from B1

Issuer: First Franklin Mortgage Loan Trust 2006-FFB

  -- Cl.  A1, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl.  A2, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl.  A3, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl.  A4, Placed on Review for Possible Downgrade,
     currently Aa2
  -- Cl.  M1, Placed on Review for Possible Downgrade,
     currently Aa3
  -- Cl.  M2, Downgraded to Ba3 from A3
  -- Cl.  M3, Downgraded to B3 from Baa2
  -- Cl.  M4, Downgraded to Ca from Ba1
  -- Cl.  M5, Downgraded to C from Ba2
  -- Cl.  M6, Downgraded to C from Ba3
  -- Cl.  M7, Downgraded to C from B2
  -- Cl.  M8, Downgraded to C from B3
  -- Cl.  M9, Downgraded to C from Ca


FIRST UNION: Stable Performance Cues Fitch to Affirm Ratings
------------------------------------------------------------
Fitch Ratings has affirmed First Union National Bank Commercial
Mortgage Trust's commercial mortgage pass-through certificates,
series 2000-C1, as:

  -- $3.7 million class A-1 at 'AAA';
  -- $480.9 million class A-2 at 'AAA';
  -- Interest-only class, IO at 'AAA';
  -- $38.8 million class B at 'AAA';
  -- $34.9 million class C at 'AAA';
  -- $11.6 million class D at 'AAA';
  -- $25.2 million class E at 'AAA';
  -- $11.6 million class F at 'AAA';
  -- $29.1 million class G at 'A';
  -- $7.8 million class H at 'BBB+';
  -- $3.9 million class J at 'BBB+';
  -- $7.8 million class K at 'BBB-';
  -- $5.8 million class L at 'BB';
  -- $8.7 million class M at 'B-'.

The $8.8 million class N is not rated by Fitch.

The rating affirmations are due to the stable performance of the
transaction.  As of the November 2007 distribution date, the
transaction's aggregate principal balance has decreased 12.6% to
$678.8 million from $776.3 million at issuance.  The transaction
remains diverse geographically and by property type.  Fifty loans
have defeased (43.7%).

Fitch has identified ten Loans of Concern (9.7%), including two
assets (3.9%) in special servicing.  The largest specially
serviced asset (2.7%) is secured by a multifamily property located
in Coral Springs, Forida.  The loan is current and is expected to
return to the master servicer once the technical insurance default
has been cured.

The second specially serviced asset (1.2%) is an office property
in Troy, Michigan and is greater than ninety days delinquent.  The
loan transferred to the special servicer in August 2007 and the
special servicer is working with the borrower to cure the default.


FORD MOTOR: November 2007 Truck Sales in Canada Up 3 Percent
------------------------------------------------------------
November proved to be another winning month for Ford Motor Company
of Canada, Limited, where truck sales increased 3%.  Not to be
outdone, Ford cars also saw a rise in sales in November -- namely
the newly redesigned Ford Focus and Ford Taurus.

"Our showrooms are bustling with pre-holiday traffic," Bill
Osborne, president and CEO, Ford Motor Company of Canada, Limited
said.  "The 'Get in and Drive' year-end clearance has given
Canadians even more reason to take a second look at the great
products Ford has to offer.  From the bold new look of the 2008
Ford Focus, to the enduring Ford Ranger and the reliable Ford F-
Series work-horse, Ford of Canada provides vehicles to suit any
need."

Last month, Ford of Canada's overall sales decreased 8.3% to
15,971 units.  Total truck sales were up 2.7% at 12,039 units and
total car sales of 3,932 units mark a 30.9% decline compared to
last November.  This shift in car sales volume is partially due to
a planned reduction in fleet sales.

                        About Ford Motor

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles in
200 markets across six continents.  With about 260,000 employees
and about 100 plants worldwide, the company's core and affiliated
automotive brands include Ford, Jaguar, Land Rover, Lincoln,
Mercury, Volvo, Aston Martin, and Mazda.  The company provides
financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the company maintains a presence in Sweden, and the
United Kingdom.  The company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 19, 2007,
Moody's Investors Service affirmed the long-term ratings of Ford
Motor Company (B3 Corporate Family Rating, Ba3 senior secured,
Caa1 senior unsecured, and B3 probability of default), but changed
the rating outlook to Stable from Negative and raised the
company's Speculative Grade Liquidity rating to SGL-1 from SGL-3.
Moody's also affirmed Ford Motor Credit Company's B1 senior
unsecured rating, and changed the outlook to Stable from Negative.
These rating actions follow Ford's announcement of the details of
the newly ratified four-year labor agreement with the UAW.


GABRIEL GUERRERO: Case Summary & 11 Largest Unsecured Creditors
---------------------------------------------------------------
Lead Debtor: Gabriel Guerrero
             P.O. Box 40733
             Austin, TX 78704-0013

Bankruptcy Case No.: 07-12260

Chapter 11 Petition Date: December 4, 2007

Court: Western District of Texas (Austin)

Debtor's Counsel: B. Weldon Ponder, Jr., Esq.
                  Building 3, Suite 200
                  4601 Spicewood Springs Rd
                  Austin, TX 78759-7841
                  Tel: (512) 342-8222
                  Fax: (512) 342-8444
                  http://www.austin.rr.com/

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

Debtor's 11 Largest Unsecured Creditors:

   Entity                     Nature of Claim       Claim Amount
   ------                     ---------------       ------------
Ford Credit                   security interest:       $31,253
P.O. Box 650575               $24,180
Dallas, TX 75265-0575

Stock Building Supply         building supplies        $12,000
4501 Burleson Road
Austin, TX 78744-1203

The Roomstore                 credit account            $4,575
P.O. Box 60148
City of Industry, CA
91716-0148

Orchard Bank                  credit card               $2,009

Wamu Card                     credit card               $2,000

Capital One                   credit card               $1,899

Dillards                      revolving account           $758

Internal Revenue Service      taxes                       $750

Macy's                        revolving account           $716

Best Buy                      revolving account           $550

Old Navy                      credit card                  $89


GARY BURIVAL: Case Summary & 27 Largest Unsecured Creditors
-----------------------------------------------------------
Lead Debtor: Gary M. Burival
             Joyce Burival
             aka B.&B. Farms
             aka Burival Farms
             49250 876th Road
             O'Neill, NE 68763
             Tel: (402)336-2256

Bankruptcy Case No.: 07-42271

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
        Richard Burival & Phillip Burival          07-42273

Chapter 11 Petition Date: November 29, 2007

Court: District of Nebraska (Lincoln Office)

Judge: Thomas L. Saladino

Debtors' Counsel: William L. Needler, Esq.
                  P.O. Box 177
                  Ogallala, NE 69153
                  Tel: (308) 284-4505
                  Fax: (308) 284-3813

                           Estimated Assets        Estimated Debts
                           ----------------        ---------------
Gary M. Burival &          $1 Million to           $1 Million to
Joyce Burival              $100 Million            $100 Million

Richard Burival &          $100,000 to             $100,000 to
Phillip Burival            $1 Million              $1 Million

Estimated Assets:

Estimated Debts:

A. Gary M. Burival's & Joyce Burival's 18 Largest Unsecured
   Creditors:

   Entity                      Claim Amount
   ------                      ------------
O'Neill Fertilizer             $882,339.00
P.O. Box 6
O'Neill, NE 68763

North Central Automation       $414,054
87160 Chance Road
West Highway 20
O'Neill, NE 68763

P.H.I.                         $211,505
P.O. Box 660635
Dallas, TX 75266

Farm Plan                      $189,422

Osborne Steel                  $153,750

Grosch Irrigation              $45,301

Armtech Insurance              $117,810

Galyen Petroleum               $116,459

Monsanto                       $83,476

Mitchell Equipment             $82,300

Cole Petroleum                 $81,889

Shelhammer Equipment           $40,753

C.N.H. Capital                 $36,801

Niobrara Valley Electric       $34,170

Holt Co. Treasurer             $26,520

Kevin Meusch                   $23,400

Cubby's, Inc.                  $41,366

F.I.A.                         $39,342

B. Richard Burival's & Phillip Burival's Nine Largest Unsecured
   Creditors:

   Entity                      Claim Amount
   ------                      ------------
Monsanto                       $150,000
75 Remittance Drive,
Suite 1511
Chicago, IL 60675-1511

P.H.I.                         $132,500
P.O. box 660635
Dallas, TX 75266

Farm Plan                      $71,266
P.O. Box 5328
Madison, WI 53705

Armtech Insurance              $29,202

Holt County Taxes              $9,340

Retail Services                $4,162

C.N.H. Capital                 $2,129

Capital One                    $799

Mitchell Equipment             $458


GENERAL MOTORS: Bidding for Undisclosed Stake in OAO AvtoVAZ
------------------------------------------------------------
General Motors Corp. has submitted a formal bid for a stake in
Russian carmaker OAO AvtoVAZ, The Wall Street Journal reports.

GM spokesman Marc Kempe described the offer as "competitive",
without specifying how large a stake the company is bidding or how
much it is willing to pay, WSJ relates.

Mr. Kempe told WSJ that the bid was part of its effort to extend
its presence in Russia, where foreign-brand cars posted a 60% rise
in sales.

GM expects this year's sales to reach 250,000 vehicles, compared
to 132,000 units in 2006, WSJ relates.  GM's Chevrolet and Opel
brands are Russia's best-selling foreign and fastest-growing
brands respectively.

WSJ cites some industry analysts as saying that Russia will become
Europe's second-biggest car market by number of new cars sold as
early as the end of 2007.

GM and AvtoVAZ operate a joint venture that manufactures the
Chevrolet Niva and the Chevrolet Viva.  The companies'
relationship, however, soured in 2005 after the Russian government
took over AvtoVaz.

GM may face Fiat S.p.A. and Renault S.A. in the bidding process,
WSJ relates.  Fiat has an existing memorandum of understanding
with Avtovaz to explore ways in which the two companies could
share technology, parts and platforms.

"All of these auto makers are building their sales and production
networks [in Russia] organically, but it's not going quickly
enough to meet the targets they've set [for Russia]," Ivan Bonchev
at Ernst & Young Moscow told WSJ.

                          About Avtovaz

Headquartered in Toliatti, Russia, Avtovaz OAO --
http://www.lada-auto.ru/-- manufactures passenger cars under
brand names LADA, VAZ and NIVA.  Through its subsidiaries and
associates, the Company manufactures automobile components,
distributes automobiles and spare parts and operates automobile
service centers.

                            About GM

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 280,000 people around the world and manufactures cars and
trucks in 33 countries, including the United Kingdom, Germany,
France, Russia, Brazil and India.  In 2006, nearly 9.1 million GM
cars and trucks were sold globally under the following brands:
Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn and Vauxhall.  GM's OnStar subsidiary is the
industry leader in vehicle safety, security and information
services.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 9, 2007,
Moody's Investors Service affirmed its rating for General Motors
Corporation (B3 Corporate Family Rating, Ba3 senior secured, Caa1
senior unsecured and SGL-1 Speculative Grade Liquidity rating) but
changed the outlook to Stable from Positive.  In an environment of
weakening prospects for US auto sales GM has announced that it
will take a non-cash charge of $39 billion for the third quarter
of 2007 related to establishing a valuation allowance against its
deferred tax assets (DTAs) in the US, Canada and Germany.

As reported in the Troubled Company Reporter on Oct. 23, 2007,
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating and other ratings on General Motors Corp. and
removed them from CreditWatch with positive implications, where
they were placed Sept. 26, 2007, following agreement on the new
labor contract.  The outlook is stable.


GLOBAL CASH: Internal Probe Delays Filing of Quarterly Report
-------------------------------------------------------------
Global Cash Access Holdings Inc. will delay the filing of its
quarterly report on Form 10-Q for the three months ended
Sept. 30, 2007, pending the conclusion of an internal
investigation conducted by an independent committee of its board
of directors.

An independent counsel assists in the investigation of the
allegations made by an individual, whose identity was not
disclosed to the company.  The issues raised remain confidential.

"The company and its board of directors take these matters very
seriously and accordingly, the company's management is cooperating
fully," Scott Betts, the chief executive officer of the company,
said.

Although the company is currently unable to predict the timing of
the conclusion of the internal investigation, the company will not
be able to file its Quarterly Report on Form 10-Q by its
prescribed due date, including the five-day extension of the
filing deadline permitted under Rule 12b-25.

The company intends to file its Quarterly Report on Form 10-Q for
the quarter ended Sept. 30, 2007, soon as practicable after the
conclusion of the internal investigation.

             About Global Cash Access Holdings Inc.

Headquartered in Las Vegas, Global Cash Access Holdings Inc. --
http://www.globalcashaccess.com/-- is a holding company whose
principal asset is the stock of Global Cash Access Inc., a
provider of cash access systems and related marketing services to
the gaming industry.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 30, 2007,
Moody's Investors Service placed the corporate family and
subordinated debt ratings of Global Cash Access Inc. under review
for possible downgrade following the company's Nov. 14, 2007,
statement that it will delay filing of its Sept. 30, 2007 Form 10-
Q.  These ratings were placed under review for possible downgrade:
(i) B1 for corporate family rating; (ii) B1 for probability of
default rating; and (iii) B3 (LGD5, 81%) for $153 million of 8.75%
senior subordinated notes.


GLOBAL POWER: Wants Removal Period Extended to Plan Effective Date
------------------------------------------------------------------
Global Power Equipment Group Inc. and its debtor-affiliates ask
the U.S. Bankruptcy Court for the District of Delaware to extend,
until the effective date of their Plan of Reorganization, the
period wherein they may file notices of removal of civil actions.

Pursuant to Bankruptcy Rule 9006(b), the Court extended the
removal period four times, the last extension being Dec. 31, 2007.

As of the date of bankruptcy, the Debtors were parties to numerous
civil actions pending in multiple courts and tribunals.
Specifically, the Debtors, since the entry of the fourth order
extending the removal period, have been focusing on various other
matters that are critical to the operation of their businesses in
Chapter 11.

The Debtors explained that they have spent an extensive amount of
time addressing numerous complex issues relating to the structure
of the their Plan and proposed rights offering.  Moreover, with
the confirmation of the Plan scheduled on Dec. 20, 2007, the
Debtors believe that it is appropriate at this time to extend the
removal deadline through the effective date of the Plan.

                        About Global Power

Based in Oklahoma, Global Power Equipment Group Inc. (Pink Sheets:
GEGQQ) -- http://www.globalpower.com/-- is a design, engineering
and manufacturing firm providing an array of equipment and
services to the energy, power infrastructure and process
industries.  The company designs, engineers and manufactures a
comprehensive portfolio of equipment for gas turbine power plants
and power-related equipment for industrial operations, and has
over 40 years of power generation industry experience.  The
company's equipment is installed in power plants and in industrial
operations in more than 40 countries on six continents.  In
addition, the company provides routine and specialty maintenance
services to nuclear, coal-fired, fossil, and hydroelectric power
plants and other industrial operations.

The company has facilities in Plymouth, Minnesota; Tulsa,
Oklahoma; Auburn, Massachusetts; Atlanta, Georgia; Monterrey,
Mexico; Shanghai, China; Nanjing, China; and Heerleen, The
Netherlands.

The company filed for chapter 11 protection on Sept. 28, 2006
(Bankr. D. Del. Case No. 06-11045).  Thomas E. Lauria, Esq.,
Matthew C. Brown, Esq., Gerard Uzzi, Esq., John Cunningham, Esq.,
and Frank Eaton, Esq., at White & Case LLP; and Jeffrey M.
Schlerf, Esq., Eric M. Sutty, Esq., and Mary E. Augustine, Esq.,
at The Bayard Firm, represent the Debtors.  Kurtzman Carson
Consultants LLC acts as the Debtors' noticing and claims agent.
At Oct. 31, 2006, Global Power's balance sheet showed total assets
of $177,758,000 and total debts of $99,017,000

Jeffrey S. Sabin, Esq., and David M. Hillman, Esq., at Schulte
Roth & Zabel LLP; and Adam G. Landis, Esq., and Kerri K. Mumford,
Esq., at Landis Rath & Cobb LLP, represent the Official Committee
of Unsecured Creditors.  The Official Committee of Equity Security
Holders is represented by Howard L. Siegel, Esq., and Steven D.
Pohl, Esq., at Brown Rudnick Berlack Israels LLP.

The Court set a hearing on Dec. 20, 2007, to consider confirmation
of the Debtor's Amended Chapter 11 Plan of Reorganization.


GLOBAL VISION: Court OKs Appointment of Examiner in Ch. 11 Case
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New
York approved a request by James Thomas, a creditor, for
appointment of an examiner in Global Vision Products Inc.'s
bankruptcy case, Bill Rochelle of Bloomberg News reports.

According to Bloomberg, the examiner, who is yet to be named,
is expected to investigate the "overall legal viability of
the Debtor's business" and submit a final report within
120 days.

Headquartered in New York City, Global Vision Products Inc.
markets Avacor topical hair regrowth product.  The company filed
for chapter 11 protection on Aug. 17, 2007 (Bankr. S.D.N.Y. Case
No. 07-12628).  Gilbert A. Lazarus, Esq., at Lazarus & Lazarus
P.C. serves as the Debtor's counsel.  The Debtor's petition
disclosed estimated assets and debts of $1 million to
$100 million.


GMAC LLC: Financial Unit Names Samuel Ramsey as Chief Risk Officer
------------------------------------------------------------------
GMAC Financial Services, a subsidiary of GMAC LLC, disclosed that
Samuel Ramsey has been appointed to the newly created position of
chief risk officer, effective immediately.  In this role, he will
have responsibility for global risk management and treasury
activities including funding and balance sheet management.  He
will report to GMAC Chief Operating Officer Al de Molina.

"Sam brings extensive finance and risk management experience to
GMAC and we are pleased to appoint him to this new role," Mr. de
Molina said.  "As GMAC crosses the one-year mark as a standalone
organization, we continue to strengthen and broaden the management
team to suit the size and scope of our business.  Risk and
treasury are critically important to the future success of our
company and Sam has a proven track record in both."

David Walker, GMAC group vice president of global borrowings, has
been named GMAC treasurer.  In this role, he has responsibility
for global funding activities and reports to Mr. Ramsey.

Mr. Ramsey joined GMAC in September of this year as treasurer and
will now have expanded responsibilities as chief risk officer.
Prior to joining GMAC, Ramsey spent over 25-years at Bank of
America Corporation, most recently serving as chief financial
officer of global corporate and investment banking.  Prior to his
role in finance, Ramsey was a member of the risk management
organization holding several positions including chief risk
officer for consumer and small business banking, chief risk
officer for commercial banking, and enterprise credit and market
risk executive.  He holds a bachelor of arts in economics from the
College of William and Mary.

Mr. Walker has led the global borrowings group at GMAC since 2006.
Prior to that, he served as chief financial officer of GMAC's
mortgage group.  He joined GMAC in 1985 and during his tenure held
several leadership roles in the areas of mortgage, funding and
securitization, and liability management.

                           About GMAC

GMAC LLC -- http://www.gmacfs.com/-- formerly General Motors
Acceptance Corporation, is a global, diversified financial
services company that operates in approximately 40 countries in
automotive finance, real estate finance, insurance and other
commercial businesses.  GMAC was established in 1919 and currently
employs about 31,000 people worldwide.  At Dec. 31, 2006, GMAC
held more than $287 billion in assets and earned net income for
2006 of $2.1 billion on net revenue of $18.2 billion.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 27, 2007,
Moody's Investors Service placed GMAC LLC's Ba2 senior unsecured
rating on review for possible downgrade.  The action was in
response to GMAC's affirmation of support for Residential Capital,
LLC, as disclosed in ResCap's Nov. 21, 2007 debt tender
announcement.  ResCap's ratings and outlook (Ba3 senior unsecured,
negative outlook) were not affected by the tender announcement or
this GMAC rating action.

As reported in the Troubled Company Reporter on Nov. 16, 2007,
Fitch Ratings has placed GMAC LLC and its related subsidiaries
'BB+' long-term Issuer Default Ratings on Rating Watch Negative.
This action reflects the ongoing pressures in the company's
residential mortgage subsidiary, Residential Capital LLC (ResCap,
IDR 'BB+' by Fitch with Rating Watch Negative).


GOODYEAR TIRE: Board OKs Plan to Keep World Headquarters in Akron
-----------------------------------------------------------------
The Goodyear Tire & Rubber Company Board of Directors has approved
a plan that, when finalized, will keep the company's world
headquarters in Akron, Ohio.

The company disclosed the tentative agreement this morning at a
joint press conference with representatives from the Industrial
Realty Group, the State of Ohio, the City of Akron and Summit
County.  The press conference was held at Goodyear's World
Technical Center, adjacent to the proposed future site of its new
headquarters building.

"I'm pleased to announce we have reached a tentative agreement
that will allow Goodyear to continue its 108-year history with the
City of Akron and the State of Ohio," Bob Keegan, Goodyear's
chairman and chief executive officer, said.  "These state-of-the-
art facilities will reflect the new Goodyear -- a place of bold
leadership and innovation -- and they will inspire future
generations of Goodyear associates."

The tentative agreement between Goodyear and IRG calls for
Goodyear to sell most of its Akron area property and facilities to
IRG.  And, IRG will construct a new world headquarters building, a
new headquarters for the company's North American Tire business,
and make improvements to the company's technical center and
research facilities.  Goodyear will lease the new buildings and
the existing technical center from IRG.

Now that Goodyear's Board of Directors has approved the proposal,
Goodyear and the other key groups can begin work on finalizing the
necessary details of the purchase and lease agreement which
includes securing public funding and other due diligence issues.

"This project has been called the most ambitious development
effort in the history of the City of Akron, and this announcement
represents a tremendous and truly historic success," Joe Gingo,
Goodyear's executive vice president and chief technical officer,
said.  "I cannot say enough about the positive spirit of
cooperation between all the groups who helped make this vision a
reality."

The proposal timeline includes breaking ground for Goodyear's new
buildings in 2008 and moving into the new facilities in 2010.

Separately, IRG has been working with the City of Akron, Summit
County and the State of Ohio to create a multi-phase development
of other parts of Goodyear's property into a mixed use retail and
commercial development -- to be called Akron Riverwalk.

Headquartered in Akron, Ohio, The Goodyear Tire & Rubber Company
(NYSE: GT) -- http://www.goodyear.com/-- is the world's largest
tire company.  The company manufactures tires, engineered rubber
products and chemicals in more than 90 facilities in 28
countries.  Goodyear's operations are located in Argentina,
Austria, Chile, Colombia, France, Italy, Guatemala, Jamaica,
Peru, Russia, among others.  Goodyear employs more than 80,000
people worldwide.

                          *     *     *

In June 2007, Standard & Poor's Ratings Services raised its
ratings on Goodyear Tire & Rubber Co., including its corporate
credit rating to 'BB-' from 'B+'.  These ratings still apply as of
Dec. 4, 2007.


GREENBELT CT: U.S. Trustee Unable to Appoint Creditors Committee
----------------------------------------------------------------
W. Clarkson McDow, Jr., the United States Trustee for Region 4,
was unable to appoint an Official Committee of Unsecured Creditors
in Greenbelt CT Imaging Center LLC's bankruptcy case.

The U.S. Trustee disclosed that the number of persons eligible and
willing to serve on such a committee is currently insufficient to
form an official committee.  The U.S. Trustee added that he will
appoint a committee upon the request of an adequate number of
eligible unsecured creditors.

Greenbelt, Maryland-based Greenbelt C.T. Imaging Center LLC
provides medical laboratory and diagnostic services including
computer tomography imaging and positron emission tomography.
The Debtor filed for chapter 11 protection on Sept. 16, 2007
(Bankr. D. Md. Case No. 07-18958).  Karen H. Moore, Esq. Paley,
Rothman, Goldstein, Rosenberg, Eig & Cooper, Chartered represents
the Debtor in its restructuring efforts.  No Official Committee of
Unsecured Creditors has been appointed in this case to date.  When
the Debtor filed for bankruptcy, it listed estimated assets and
debts between $1 million to $100 million.


GREENBELT CT: Wants to Hire Grossberg Company as Accountants
------------------------------------------------------------
Greenbelt CT Imaging Center LLC asks authority from the U.S.
Bankruptcy Court for the District of Maryland to employ Grossberg
Company LLP as its accountant, nunc pro tunc to Sept. 16, 2007.

Grossberg Company will assist the Debtor in preparing monthly
operating reports, balance sheets, income statements, cash
reconciliations, and other financial documents that may be
requested by the creditors and parties-in-interest.

Additionally, the Debtor says that General Electric Capital
Corporation has requested the Debtor's permission to perform an
audit of the Debtor's business operations.  The Debtor has
indicated its consent to GECC's request but will require the
assistance of Grossberg Company with the audit.

Lawrence Rosenblum, a member of Grossberg Company, tells the Court
that firm's professionals and support staff bill $55 to $350 per
hour.  Prior to the Debtor's bankruptcy filing, the firm received
a retainer from the Debtor for $17,000.

Mr. Rosenblum assures the Court that the accounting firm is a
"disinterested person" as that term is defined in Section 101(14)
of the U.S. Bankruptcy Code.

                           Objections

General Electric Capital Corporation, the Debtor's secured lender,
objects to the accounting firm's employment, saying that the firm
has an undisclosed interest in a joint venture which is a creditor
of the estate.  GECC argues that Grossberg should be required to
make a fuller disclosure of all its relationships with the
Debtor's insiders.

W. Clarkson McDow, Jr., the United States Trustee for Region 4,
agrees with GECC.  The U.S. Trustee points out that Mr. Rosenblum,
in his affidavit, admitted that a joint venture took place in
which the accounting firm has a 25% ownership interest performed
services pre-bankruptcy for which it has not paid.

GECC believes that Grossberg may have received prepetition
preferential payments.  GECC says that the preferences must be
disgorged, as a condition of the employment.

Moreover, GECC objects to the retention insofar as Grossberg was
paid, on several occasions, from GECC's cash collateral, during
the months after GECC wrote the Debtor on July 2007, declaring
default and demanding that the Debtor turnover to GECC of all cash
proceeds of GECC's receivable collateral received.  GECC also
wants the payments to be disgorged to the Debtor's estate.

                       About Greenbelt C.T.

Greenbelt, Maryland-based Greenbelt C.T. Imaging Center LLC
provides medical laboratory and diagnostic services including
computer tomography imaging and positron emission tomography.
The Debtor filed for chapter 11 protection on Sept. 16, 2007
(Bankr. D. Md. Case No. 07-18958).  Karen H. Moore, Esq. Paley,
Rothman, Goldstein, Rosenberg, Eig & Cooper, Chartered represents
the Debtor in its restructuring efforts.  No Official Committee of
Unsecured Creditors has been appointed in this case to date.  When
the Debtor filed for bankruptcy, it listed estimated assets and
debts between $1 million to $100 million.


GS MORTGAGE: Fitch Junks Ratings on Three Certificate Classes
-------------------------------------------------------------
Fitch Ratings has taken these rating actions on GS Mortgage
Securities Corp. mortgage pass-through certificates.  Downgrades
total $24.3 million.  Break Loss percentages and Loss Coverage
Ratios for each class, rated B or higher, are included with the
rating actions as:

GSAMP Trust 2005-S1
  -- $12.6 million class M-2 downgraded to 'BBB' from 'A' and
     placed on Rating Watch Negative (BL: 53.84, LCR: 2.36)
  -- $7.6 million class B-1 downgraded to 'CCC/DR2' from 'BBB'
  -- $1.8 million class B-2 downgraded to 'C/DR5' from 'BB'
  -- $2.1 million class B-3 downgraded to 'C/DR6' from 'BB-'

Deal Summary
  -- Originators: 100% New Century
  -- 60+ day Delinquency: 32.6%;
  -- Realized Losses to date (% of Original Balance): 4.24%;
  -- Expected Remaining Losses (% of Current Balance): 22.84%;
  -- Cumulative Expected Losses (% of Original Balance): 6.52%.

The rating actions are based on changes that Fitch has made to its
subprime loss forecasting assumptions.  The updated assumptions
better capture the deteriorating performance of pools from 2007,
2006 and late 2005 with regard to continued poor loan performance
and home price weakness.  Minimum LCR's specifically for subprime
second lien transactions are as follows: AAA: 2.00; AA: 1.75; A:
1.50; BBB: 1.20; BB 0.95; B: 0.75.


GS MORTGAGE: Fitch Lowers Rating on $2.5MM Certs. to B from BBB
---------------------------------------------------------------
Fitch Ratings has taken various rating actions on these GS
Mortgage Securities Corp. mortgage pass-through certificates:

Series 2005-SEA1
  -- $23.4 million class A, R-1, R-2 affirmed at 'AAA';
  -- $15.6 million class M-A affirmed at 'AA';
  -- $4.2 million class M-1 affirmed at 'AA';
  -- $11.2 million class M-2 rated 'A' placed on Rating Watch
     Negative;
  -- $5.6 million class B-1 downgraded to 'BB' from 'BBB+';
  -- $2.5 million class B-2 downgraded to 'B' from 'BBB';
  -- $2.5 million class B-3 downgraded to 'CC/DR3' from 'BBB-'.

The affirmations affect approximately $43.3 million of the
outstanding certificates and reflect a stable relationship between
credit enhancement and expected loss.  The downgrades, affecting
approximately $10.7 million and the $11.2 million class M-2 placed
on Rating Watch Negative are the result of deterioration in the
relationship between CE and expected losses.

The collateral of the above transactions primarily consists of
seasoned fixed-rate and adjustable-rate mortgage loans secured by
first and second liens on one- to four-family residential
properties.  The loans were acquired by GS Mortgage Corp. from
various originators.

The pool factor is 34%.  The transactions are 30 months seasoned.


GSAA HOME: Moody's Cuts Rating on Cl. I-M-4 Trusts to B2 from Ba3
-----------------------------------------------------------------
Moody's Investors Service has downgraded three certificates from a
transaction issued by GSAA Home Equity Trust.  The transaction is
backed by second lien loans.  The certificates were downgraded
because the bonds' credit enhancement levels, including excess
spread and subordination were too low compared to the current
projected loss numbers at the previous rating levels.

Substantial pool losses over the last few months have continued to
erode credit enhancement available to the mezzanine and senior
certificates.  Despite the large amount of write-offs due to
losses, the delinquency pipeline has remained high as borrowers
continue to default.  The actions reflect Moody's expectation that
the significant delinquency pipeline will have a further negative
impact on the credit support for the senior and mezzanine
certificates.

Complete rating actions are:

Issuer: GSAA Home Equity Trust 2006-S1

  -- Cl. I-M-4, Downgraded to B2 from Ba3
  -- Cl. I-M-5, Downgraded to Caa2 from B3
  -- Cl. I-M-6, Downgraded to C from Ca


GSAMP TRUST: Low Credit Enhancement Cues Moody's to Cut Ratings
---------------------------------------------------------------
Moody's Investors Service has downgraded 30 certificates and
confirmed the rating on one class of certificates from six
transactions issued by GSAMP Trust.  All transactions are backed
by second lien loans.  The certificates were downgraded because
the bonds' credit enhancement levels, including excess spread and
subordination, were too low compared to the current projected loss
numbers at the previous rating levels.

Substantial pool losses over the last few months have continued to
erode credit enhancement available to the mezzanine and senior
certificates.  Despite the large amount of write-offs due to
losses, delinquency pipelines have remained high as borrowers
continue to default.  The actions reflect Moody's expectation that
the significant delinquency pipelines will have a further negative
impact on the credit support for the senior and mezzanine
certificates.

The rating of Class A-2A from GSAMP Trust 2006-S1 was confirmed
due to the extra subordination it receives from Class A-2B.

Complete rating actions are:

Issuer: GSAMP Trust 2006-S1

  -- Cl. A-2A, Confirmed at Aaa
  -- Cl. M-1, Downgraded to Baa3 from A2
  -- Cl. M-2, Downgraded to Caa2 from Ba1
  -- Cl. M-3, Downgraded to Ca from B1
  -- Cl. M-4, Downgraded to C from Ca

Issuer: GSAMP Trust 2006-S2

  -- Cl. M-1, Downgraded to Ba1 from A3
  -- Cl. M-2, Downgraded to B2 from Baa2
  -- Cl. M-3, Downgraded to Caa2 from Ba2
  -- Cl. M-4, Downgraded to Ca from B1
  -- Cl. M-5, Downgraded to C from Ca

Issuer: GSAMP Trust 2006-S3

  -- Cl. A-1, Downgraded to Ba1 from Baa1
  -- Cl. A-2, Downgraded to Ba1 from Baa1
  -- Cl. A-3, Downgraded to Ba1 from Baa1
  -- Cl. M-1, Downgraded to Ca from B2
  -- Cl. M-2, Downgraded to C from Ca

Issuer: GSAMP Trust 2006-S4

  -- Cl. M-1, Downgraded to A3 from A1
  -- Cl. M-2, Downgraded to Baa2 from A2
  -- Cl. M-3, Downgraded to Ba3 from Baa2
  -- Cl. M-4, Downgraded to B3 from Ba1
  -- Cl. M-5, Downgraded to Caa2 from Ba3
  -- Cl. M-6, Downgraded to Ca from B1
  -- Cl. M-7, Downgraded to C from B3

Issuer: GSAMP Trust 2006-S5

  -- Cl. A-1, Downgraded to B3 from Baa1
  -- Cl. A-2, Downgraded to B3 from Baa1
  -- Cl. M-1, Downgraded to C from Ba3
  -- Cl. M-2, Downgraded to C from Caa1

Issuer: GSAMP Trust 2006-S6

  -- Cl. M-1, Downgraded to Baa3 from A3
  -- Cl. M-2, Downgraded to Ba2 from Baa1
  -- Cl. M-3, Downgraded to Caa2 from Baa3
  -- Cl. M-4, Downgraded to Ca from Ba3
  -- Cl. M-5, Downgraded to C from Ca


GSAMP TRUST: Moody's Downgrades Ratings on 36 Tranches
------------------------------------------------------
Moody's Investors Service has downgraded the ratings of 36
tranches and has placed under review for possible downgrade the
ratings of 4 tranches from 6 transactions issued by GSAMP Trust in
2007.  Additionally, one downgraded tranche remains on review for
possible further downgrade.  The collateral backing these classes
consists of primarily first lien, fixed and adjustable-rate,
subprime mortgage loans.

In its analysis, Moody's has combined its published methodology
updates as of July 13, 2007 to the non delinquent portion of the
transactions.  Collateral backing these transactions is also
experiencing higher than anticipated rates of delinquency,
foreclosure, and REO relative to credit enhancement levels.

Complete list of Rating Actions:

Issuer: GSAMP Trust 2007-FM1

  -- Cl. M-3 Currently Aa3 on review for possible downgrade,
  -- Cl. M-4, Downgraded to A2, previously A1,
  -- Cl. M-5, Downgraded to Baa1, previously A2,
  -- Cl. M-6, Downgraded to Ba1, previously A3,
  -- Cl. M-7, Downgraded to Ba2, previously Baa1,
  -- Cl. M-8, Downgraded to Ba3, previously Baa2,
  -- Cl. M-9, Downgraded to B3, previously Baa2,
  -- Cl. B-1, Downgraded to Caa3, previously Ba1,
  -- Cl. B-2, Downgraded to C, previously Ba2.

Issuer: GSAMP Trust 2007-FM2

  -- Cl. M-3 Currently Aa3 on review for possible downgrade,
  -- Cl. M-4, Downgraded to A2, previously A1,
  -- Cl. M-5, Downgraded to A3, previously A2,
  -- Cl. M-6, Downgraded to Baa2, previously A3,
  -- Cl. M-7, Downgraded to Ba1, previously Baa1,
  -- Cl. M-8P, Downgraded to Ba2, previously Baa2,
  -- Cl. M-8D, Downgraded to Ba2, previously Baa2,
  -- Cl. M-9, Downgraded to B1, previously Baa2,
  -- Cl. B-1, Downgraded to Caa1, previously Ba1,
  -- Cl. B-2, Downgraded to C, previously Ba2.

Issuer: GSAMP Trust 2007-H1

  -- Cl. M-6, Downgraded to Baa1, previously A3,
  -- Cl. M-7, Downgraded to Baa3, previously Baa1,
  -- Cl. M-8, Downgraded to Ba1, previously Baa2,
  -- Cl. M-9, Downgraded to B3, previously Baa3.

Issuer: GSAMP Trust 2007-HE1

  -- Cl. B-1, Downgraded to Ba3, previously Ba1,
  -- Cl. B-2, Downgraded to B3 on review for possible further
     downgrade, previously Ba2.

Issuer: GSAMP Trust 2007-HE2

  -- Cl. M-5, Downgraded to A3, previously A2,
  -- Cl. M-6, Downgraded to Baa1, previously A3,
  -- Cl. M-7, Downgraded to Baa3, previously Baa1,
  -- Cl. M-8, Downgraded to Ba3, previously Baa2,
  -- Cl. M-9, Downgraded to B1, previously Baa3.

Issuer: GSAMP Trust 2007-NC1

  -- Cl.M-2 Currently Aa2 on review for possible downgrade,
  -- Cl.M-3 Currently Aa3 on review for possible downgrade,
  -- Cl.M-4, Downgraded to A2, previously A1,
  -- Cl.M-5, Downgraded to Baa2, previously A2,
  -- Cl.M-6, Downgraded to Ba2, previously A3,
  -- Cl.M-7, Downgraded to Ba3, previously Baa1,
  -- Cl.M-8, Downgraded to B1, previously Baa2,
  -- Cl.M-9, Downgraded to Caa2, previously Baa3,
  -- Cl.B-1, Downgraded to C, previously Ba1,
  -- Cl.B-2, Downgraded to C, previously Ba2.


HALL'S QUALITY: Case Summary & 15 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Hall's Quality Masonry, Inc.
        3475 Waterlike Road
        Forest, VA 24551

Bankruptcy Case No.: 07-62277

Chapter 11 Petition Date: November 30, 2007

Court: Western District of Virginia (Lynchburg)

Judge: William E. Anderson

Debtor's Counsel: Shreen N. Mahmoud, Esq.
                  Harry Jernigan CPA Attorney, P.C.
                  3130 Chaparral Drive
                  Suite 102
                  Roanoke, VA 24018
                  Tel: (757) 490-2200
                  Fax: (757) 490-0280

Estimated Assets: $100,000 to $1 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's list of its 15 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Internal Revenue Service                                 $372,998
400 North 9th Street
P.O. Box 76
Stop Room 898
Richmond, VA 23219

Boxley Block                                              $96,729
P.O. Box 13527
Roanoke, VA 24035

American Express                    Supplies              $81,724
P.O. Box 36001
Fort Lauderdale, FL 33336

Bank of the James                   3469 Waterlick       $365,414
                                    Road, real estate    Secured:
                                                         $310,000

International Profit Associate      Services              $20,839

Taylor Insurance Agencies           Insurance Premium     $14,393

Robert W. Flanary                   Services              $12,219

Quickrete                           Materials             $10,429

Valco                               Services              $10,290

PCHP                                Services               $8,076

Diversified Financial Services      Services               $7,028

Fleet Fueling                       Fuel Supplies          $6,338

Bee Line Transport                  Transportation         $4,900
                                    Services

Woodall & Lang, Inc.                Services               $4,855

Hertz Equipment of Roanoke          Equipment              $4,279
                                    Supplies

Sterling Oil                        Fuel Supplies          $3,902

Foster Fuels, Inc.                  Fuel Services          $3,484

Lowes                               Materials              $3,426

Robin F. Jefferson, Treasurer       Taxes                  $3,415

Ford Credit                         2003 Lincoln           $3,000
                                    Navigator -
                                    Repossessed


HAWAIIAN AIRLINES: Mesa Air Posts $90 Million Bond
--------------------------------------------------
Mesa Air Group Inc. disclosed in a regulatory filing with the
Securities and Exchange Commission that it has posted a
$90 million bond in connection with its appeal of a bankruptcy
court ruling holding it liable for breach of a confidentiality
agreement with Hawaiian Airlines.

As reported in the Troubled Company Reporter on Nov. 2, 2007,
the United States Bankruptcy Court for the District of Hawaii
ruled in favor of Hawaiian Airlines in its lawsuit against Mesa
Air Group (Case No. 03-00817), awarding Hawaiian $80 million in
damages and ordering Mesa to pay Hawaiian's costs of litigation
and reasonable attorneys' fees.

According to Mesa, the bond amount covers the original judgment,
$4.7 million in legal fees, $3.4 million for a year's worth of
interest and $1.9 million for additional costs.

Mesa said it has funded the bond amount from cash on hand.

The Court's decision followed two weeks of court proceedings from
September 25 through October 4, 2007, including witness testimony
and presentation of evidence.  In a pre-trial hearing, the Court
made findings that:

   (1) Mesa kept confidential information it was supposed to
       destroy or return to Hawaiian in accordance with a
       signed confidentiality agreement;

   (2) Mesa misused the information it kept; and

   (3) the information Mesa kept was a substantial factor in
       the company's decision to enter the Hawaii market.

The $80 million in damages was awarded to compensate Hawaiian for
damages it suffered through October 2007.  The Court did not award
damages for any injury Hawaiian may sustain in the future as a
result of Mesa's misconduct.

                     About Hawaiian Airlines

Hawaiian Airlines, Inc. -- http://www.hawaiianair.com/-- a
subsidiary of Hawaiian Holdings Inc. (Amex: HA), provides
passenger air service between the U.S. mainland and Hawaii.  The
company also offers service to Australia, American Samoa and
Tahiti.  The company filed a voluntary petition for reorganization
under Chapter 11 of the United States Bankruptcy Code in the U.S.
Bankruptcy Court for the District of Hawaii (Case No. 03-00827) on
March 21, 2003.  Joshua Gotbaum served as the chapter 11 trustee
for Hawaiian Airlines, Inc.  Mr. Gotbaum was represented by Tom E.
Roesser, Esq., and Katherine G. Leonard, Esq., at Carlsmith Ball
LLP and Bruce Bennett, Esq., Sidney P. Levinson, Esq., Joshua D.
Morse, Esq., and John L. Jones, II, Esq., at Hennigan, Bennett &
Dorman LLP.  The Bankruptcy Court confirmed the Chapter 11
Trustee's Plan of Reorganization on March 10, 2005.  The Plan took
effect on June 2, 2005.


HAZEL POINTE: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Lead Debtor: Hazel Pointe, L.P.
             15 Heyward Point
             Okatie, SC 29909

Bankruptcy Case No.: 07-06793

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
        Distinct Development, L.L.C.               07-06797

Type of Business: The Debtor develops real estate.  See
                  http://www.heywardpoint.com/50.htm

Chapter 11 Petition Date: December 4, 2007

Court: District of South Carolina (Charleston)

Judge: David R. Duncan

Debtors' Counsel: G. William McCarthy, Jr., Esq.
                  1715 Pickens Street (29201)
                  P.O. Box 11332
                  Columbia, SC 29211-1332
                  Tel: (803) 771-8836

                            Estimated Assets       Estimated Debts
                            ----------------       ---------------
Hazel Pointe, L.P.          $1 Million to          $1 Million to
                            $100 Million           $100 Million

Distinct Development,       $1 Million to          $1 Million to
L.L.C.                      $100 Million           $100 Million

The Debtors did not file a list of their largest unsecured
creditors.


HIDDEN SPLENDOR: Committee Hires Edmond Miller as Special Counsel
-----------------------------------------------------------------
The United States Bankruptcy Court for the District of Nevada
authorized the Official Committee of Unsecured Creditors in Hidden
Splendor Resources Inc.'s Chapter 11 case to retain the Law Office
of Edmond "Buddy" Miller as its local counsel, nunc pro tunc
Nov. 2, 2007.

Buddy Miller is expected to:

   a) advice with regards to Nevada law, local practice and the
      requirements of the Bankruptcy Court and the office of the
      United States Trustee;

   b) represent the Committee in any proceeding or hearing in the
      Bankruptcy Court involving the Debtor's estate, unless the
      Committee is represented in the proceeding or hearing by
      other special counsel;

   c) examine witnesses, claimants or adverse parties and the
      committee in any adversary proceeding except to the extent
      that any adversary proceeding is in an area outside of the
      firm's expertise;

   d) assist with preparing reports, applications, pleadings,
      papers and orders including, but not limited to,
      applications to employ professionals, and responding to
      pleadings filed by any other party in interest in this case,
      including the Debtor; and

   e) provide any other services which may be appropriate in the
      representation of the Committee during this bankruptcy case.

The Committee tells the Court that Edmond Miller, Esq., bills at
$275 per hour for this engagement, while his paralegals charge
between $75 and $100 per hour.

To the best of the Committee's knowledge the firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

Mr. Miller can be reached at:

      Edmond Miller, Esq.
      Law Office of Edmond "Buddy" Miller
      6490 S. McCarran Blvd.
      Bldg. C, Suite 26
      Reno, NV 89509
      Tel: (775) 828-9898
      Fax: (775) 828-9893
      http://buddymillerlaw.com/

Based in Reno, Nevada, Hidden Splendor Resources, Inc., is a real
estate investment trust.  The company and its affiliate, Mid-State
Services, Inc., filed for chapter 11 protection on Oct. 15, 2007
(Bankr. D. Nev. Case Nos. 07-51378 & 07-51379).  John A. White,
Jr., Esq., represents the Debtor in its restructuring efforts.
The U.S. Trustee for Region 17 has appointed five creditors to
serve on an Official Committee of Unsecured Creitors for the
Debtor's case.  Mark E. Freedlander, Esq., at McGuirewoods LLP,
represents the Committee.  Hidden Splendor diclosed estimated
assets between $10 million and $50 million and estimated debts
between $1 million and $10 million at the time of its filing.
Mid-State disclosed estimated assets and debts between $1 million
and $10 million.


HOLOGIC INC: Mulls Offering of $1.3 Bil. Convertible Senior Notes
-----------------------------------------------------------------
Hologic Inc. intends to offer, subject to market and other
conditions, $1.3 billion aggregate principal amount of convertible
senior notes due 2037 pursuant to an effective shelf registration
statement filed with the Securities and Exchange Commission.

The company expects to grant to the underwriters an option to
purchase up to an additional $195 million aggregate principal
amount of notes to cover overallotments.  Goldman, Sachs & Co. is
acting as sole book-running manager of the offering.

The company intends to use the net proceeds from the offering to
repay a portion of its outstanding senior secured indebtedness.

Copies of the final prospectus supplement relating to the
convertible notes offering, when available, may be obtained from:

     Goldman, Sachs & Co.
     Attn: Prospectus Dept.
     85 Broad Street
     New York, NY 10004
     Fax (212) 902-9316
     Email prospectus-ny@ny.email.gs.com

Headquartered in Bedford, Massachussetts, Hologic Inc.
(NASDAQ:HOLX) -- http://www.hologic.com/-- is a diversified
diagnostic and medical product and device company dedicated to
serving the healthcare needs of women.  In October 2007, the
company completed its business combination with Cytyc Corporation,
a company that develops, manufactures and markets a complementary
product line covering a range of cancer and women's health
applications, including cervical cancer screening, treatment of
excessive menstrual bleeding, and radiation treatment of early-
stage breast cancer.

                          *     *     *

As reported in the Troubled Company Reporter on Sept. 14, 2007,
Standard & Poor's Rating Services assigned its 'BB-' corporate
credit rating to Hologic Inc. with a stable outlook.


HOUGHTON MIFFLIN: Inks $750MM Buyout Deal with Cengage Learning
---------------------------------------------------------------
Houghton Mifflin Company has signed a definitive agreement with
Cengage Learning, under which Cengage Learning will acquire the
assets of the Houghton Mifflin College Division for $750 million
in cash.  The acquisition is expected to close in the first half
of 2008 upon satisfaction of regulatory approvals and other
customary closing conditions.

HM College stated that the acquisition will expand and complement
the range of textbooks, study guides, custom publications and
digital solutions that Cengage Learning provides to professors and
students in two- and four-year colleges and universities.

The transaction will allow Houghton Mifflin to focus on its core
K-12 educational publishing business, when it completes the
definitive agreement to acquire the Harcourt Education, Harcourt
Trade and Greenwood-Heinemann divisions of Reed-Elsevier.

Under a long-term agreement that will be executed at closing of
the transaction, Cengage and Houghton Mifflin will cooperate to
expand the distribution of Cengage's college textbooks and related
materials into the U.S. high school market, with particular
emphasis on Advanced Placement and Honors programs.

"We are very pleased to acquire the well-respected assets of HM
College, which are highly complementary to our existing business,"
Ronald Dunn, president and CEO of Cengage Learning," said.  "We
look forward to combining the people, products and publishing
programs of HM College and Cengage Learning to expand and enhance
our range of services for students, instructors and institutions
in the higher education market."

Debt financing for the transaction will be in the form of
additional term loans under Cengage Learning's existing credit
agreement, which is underwritten by The Royal Bank of Scotland
plc.

Apax Partners and OMERS Capital Partners will make an additional
equity investment as part of the financing for the transaction.
Apax Partners and OMERS Capital Partners acquired Cengage Learning
from The Thomson Corporation in July 2007.

Cengage Learning was advised by Evercore Group, Simpson Thacher &
Bartlett LLP and Freshfields Bruckhaus Deringer.

                     About Cengage Learning

Headquartered in Stamford, Connecticut, Cengage Learning --
http://www.cengage.com/-- fka Thomson Learning, delivers highly
customized learning solutions for colleges, universities,
professors, students, reference centers, government agencies,
corporations and professionals. These solutions are delivered
through specialized content, applications and services that foster
academic excellence and professional development, well as provide
measurable learning outcomes to its customers.  Cengage Learning's
existing company and imprint brands include Heinle, Gale,
Wadsworth, Delmar Learning, Brooks/Cole and South-Western, among
others.

                     About Houghton Mifflin

Headquartered in Boston, Houghton Mifflin Company --
http://www.hmco.com/-- is an educational publisher in the United
States.  The company publishes a comprehensive set of educational
solutions, ranging from research-based textbook programs to
instructional technology to standards- based assessments for
elementary and secondary schools and colleges.  The company also
publishes an extensive line of reference works and award-winning
fiction and nonfiction for adults and young readers.

                          *     *     *

Moody's Investor Service placed Houghton Mifflin Company's
probability of default rating at 'B2' in September 2006 and its
subordinated debt rating at 'B3' in December 2006.  The ratings
still hold to date with a stable outlook.


HUB INTERNATIONAL: Agrees To Combine with HKMB International
------------------------------------------------------------
Hub International Limited and HKMB International Insurance Brokers
have entered into a definitive agreement pursuant to which HKMB
will join with HUB International.  HKMB will become a new regional
platform and carry on business as HKMB Hub International from its
existing offices in Toronto, Ontario.  HKMB's existing ownership
group will continue as equity partners in the combined firm.

HKMB Hub International's offerings to clients and colleagues will
be impressive, with greatly enhanced combined resources and
leverage in the Canadian marketplace.  Founded in 1888, HKMB
International is a Canadian commercial insurance brokerage
offering the full spectrum of insurance and related services,
including risk management advice, property/casualty, group
benefits and personal lines.  Its diversified customer base
extends across all major industry sectors.  HKMB International
employs approximately 240 people.  HKMB's Vancouver office will be
consolidated into HUB International TOS.

"The combination with HKMB will add great depth and talent to our
Canadian operations," Martin P. Hughes, chief executive officer
and chairman of HUB International, said.  "We have the advantage
of knowing the leadership at HKMB very well and they will retain
significant equity in the combined entity.  The reputation of HKMB
is impeccable, not only in the Canadian insurance community, but
also in the U.S. and abroad.  Like HUB International, HKMB has
grown rapidly through the efforts of a very dedicated team of
professionals who are passionate about serving the needs of their
clients," Mr. Hughes continued.  "We admire their approach to
business and respect their management style.  HKMB is going to be
a great fit with us, and we couldn't be happier to have them join
our growing corporate family."

"HKMB's corporate mission has always been to advocate our clients'
interests and provide them with the best opportunity to address
their exposure to risk," Gregory Belton, president of HKMB, said.
"By combining with HUB International, our sales and service teams
will be able to leverage and access an even wider range of
products and services."

"We at HKMB International are all looking forward to the
opportunities that will open up to us from a significantly larger
footprint," Neil Morrison, chief executive officer of HKMB, added.
"We are excited to work with the HUB management team, and in
particular Dennis Pauls and our other counterparts, not only here
in Ontario but also throughout Canada and the United States.  Our
goal of growth for our clients, our people, our partners and our
business aligns fully with HUB's values and vision for the
future."

Operationally, HKMB is organized by industry-specific practice
areas that allow clients access to in-depth knowledge and
experience, resulting in better servicing of insurance needs and
management of insurance costs.  Practice areas include owner-
managed firms, automotive dealerships, not-for-profit and
charitable organizations, construction and engineering firms, food
services providers, franchisors, technology firms, hospitality
providers, houses of worship, leasing and lending institutions,
life sciences/bio-tech firms, long term care facilities, private
equity investors, investment dealers, governmental institutions,
real estate developers, transportation firms and sports and
entertainment.  HKMB also fields a claims team that is dedicated
to championing client claims.

It is anticipated that upon completion of the transaction,
scheduled to occur in early January 2008, HUB's combined Ontario
operations will generate more than $100 million in total
annualized revenue and total Canadian premium volume will exceed
$2.1 billion.  HUB's existing regional hub in Ontario, Hub
International Ontario, will continue to be led by Dennis Pauls.

Completion of the transaction is subject to the usual closing
conditions.  Terms of the transaction were not disclosed.

Headquartered in Chicago, Illinois, Hub International Limited
(NYSE: HBG)(TSX: HBG) -- http://ir.hubinternational.com/-- a
North American insurance brokerage, provides property and
casualty, reinsurance, life and health, employee benefits,
investment and risk management products and services through
offices located in the United States and Canada.

                          *    *    *

Moody's Investors Service assigned a B3 corporate family rating
to Hub International Limited in May 2007.


IDO SECURITY: Posts $5,114,043 Net Loss in Third Quarter
--------------------------------------------------------
IDO Security Inc. reported a net loss of $5,114,043 for the third
quarter ended Sept. 30, 2007, compared with a net loss of $3,300
in the comparable period in 2006.

No revenues were recorded for the three months ended Sept. 30,
2007 or during the corresponding period in 2006.

Stock based compensation totaled $1,111,752 for the three months
ended Sept. 30, 2007.

The net loss during the three months ended Sept. 30, 2007, also
included amortization of debt discount of $3,262,788 incurred in
connection with the placement of convertible promissory notes
which were issued in February, March and April 2007.

At Sept. 30, 2007, the company's consolidated balance sheet showed
$2,214,693 in total assets, $1,952,670 in total liabilities, and
$262,023 in total stockholders' equity.

The company's consolidated balance sheet at Sept. 30, 2007, also
showed strained liquidity with $300,276 in total current assets
available to pay $1,795,520 in total current liabilities.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?2609

                       Going Concern Doubt

At Sept. 30, 2007, IDO Security Inc. had not achieved profitable
operations, has accumulated losses of $9.4 million, has a working
capital deficiency of $1.5 million and expects to incur further
losses in the development of its business.  These conditions raise
substantial doubt about the company'ss ability to continue as a
going concern.

                       About IDO Security

Headquartered in New York, IDO Security Inc. (OTC BB: IDOI.OB) --
http://www.idosecurityinc.com/-- is engaged in the design,
development and marketing of devices for the homeland security and
loss prevention markets for use in security screening to detect
metallic objects concealed on or in footwear, ankles and feet
through the use of electro-magnetic fields.


IMPAC MORTGAGE: Gets NYSE Notice on Stock Price Non-Compliance
--------------------------------------------------------------
Impac Mortgage Holdings Inc. was notified by the NYSE Regulation
Inc., on Nov. 28, 2007, that it is not in compliance with the New
York Stock Exchange's continued listing standard related to
maintaining a consecutive thirty day average closing stock price
of over $1.00 per common share.

At Nov. 27, 2007, Impac's thirty day average price was $0.91 per
common share and its absolute closing price was $0.69 per common
share.

Under NYSE rules, the company has six months to bring its share
price and average price back above $1.00, during which time the
Company's common and preferred stock will continue to be listed
and traded on the NYSE, subject to ongoing reassessment by NYSE
Regulation Impac has notified the NYSE that it intends to submit
plans to address the price deficiency, within the required 10 day
period following the receipt of notification.

Headquartered in Irvine, California, Impac Mortgage Holdings Inc.
(NYSE: IMH) -- http://www.impaccompanies.com/--  is a mortgage
REIT, which through its Long Term Investment Operations is
primarily invested in non-conforming Alt A mortgage loans (Alt-A)
and to a lesser extent small balance commercial and multi-family
loans.  The company also operates a significantly reduced Mortgage
Operations, which acquires, originates and sells conforming loans
that are eligible for sale to government sponsored agencies.  The
company is organized as a REIT for tax purposes, which generally
allows it to pass through earnings to stockholders without federal
income tax at the corporate level.

                          *     *     *

As reported in the Troubled Company Reporter on Nov. 16, 2007,
Impac Mortgage disclosed in a Securities and Exchange Commission,
that it received a notice of event of default.  At Sept. 30, 2007,
the outstanding balance of the reverse repurchase facility with
UBS Real Estate Securities Inc. and the warehouse facility with
Colonial Bank was an aggregate of $407 million.

Pursuant to the terms of each arrangement, the company was in
technical default under certain income and tangible net worth
covenants.  The company has requested a waiver of default from
each these lenders, and has not received the waivers as of
Nov. 13, 2007.


INDYMAC HOME: Moody's Slices Rating on Class M-4 Certs. to B2
-------------------------------------------------------------
Moody's Investors Service has downgraded 10 certificates and
placed on review for possible downgrade 2 certificates from two
transactions issued by IndyMac Home Equity Mortgage Loan Asset-
Backed Trust.  Both transactions are backed by second lien loans.
The certificates were downgraded or placed on review for possible
downgrade because the bonds' credit enhancement levels, including
excess spread and subordination, were too low compared to the
current projected loss numbers at the previous rating levels.

Substantial pool losses over the last few months have continued to
erode credit enhancement available to the mezzanine and senior
certificates.  Despite the large amount of write-offs due to
losses, delinquency pipelines have remained high as borrowers
continue to default.  The actions reflect Moody's expectation that
the significant delinquency pipelines will have a further negative
impact on the credit support for the senior and mezzanine
certificates.

Complete rating actions are:

Issuer: IndyMac Home Equity Mortgage Loan Asset-Backed Trust

Downgrade:

  -- Series INDS 2006-1, Class B-1, Downgraded to Ca from Caa2;
  -- Series INDS 2006-1, Class B-2, Downgraded to C from Ca;
  -- Series INDS 2006-A, Class M-2, Downgraded to Baa3 from A1;
  -- Series INDS 2006-A, Class M-3, Downgraded to Ba2 from A2;
  -- Series INDS 2006-A, Class M-4, Downgraded to B2 from Baa1;
  -- Series INDS 2006-A, Class M-5, Downgraded to Caa2 from
     Baa3;
  -- Series INDS 2006-A, Class M-6, Downgraded to Ca from Ba1;
  -- Series INDS 2006-A, Class M-7, Downgraded to C from Ba2;
  -- Series INDS 2006-A, Class M-8, Downgraded to C from B3;
  -- Series INDS 2006-A, Class M-9, Downgraded to C from Ca.

Review for Possible Downgrade:

  -- Series INDS 2006-A, Class A, current rating Aa1, on review
     for possible downgrade;
  -- Series INDS 2006-A, Class M-1, current rating Aa2, on
     review for possible downgrade.


INTERSTATE HOTELS: Inks $207.8 Million Venture with Harte Holdings
------------------------------------------------------------------
Interstate Hotels & Resorts has formed a joint venture with Harte
Holdings.  The joint venture signed a definitive agreement to
acquire four hotels from affiliates of The Blackstone Group for an
aggregate price of $207.8 million.

Interstate will invest approximately $11 million for a 20% equity
interest in the four hotels.  Interstate will fund the
acquisition with available cash and capacity under its senior
revolving credit facility.  The transaction is expected to close
in the first quarter of 2008.

The four properties included in the joint venture acquisition are:

   a) Property: Sheraton Frazer Great Valley
      Rooms: 198
      Location: Frazer, Pennsylvania (Phila MSA)

   b) Property: Sheraton Mahwah
      Rooms: 225
      Location: Mahwah, New Jersey

   c) Property:  Latham Hotel Georgetown
      Rooms: 142
      Location: Washington, DC

   d) Property: Hilton Lafayette
      Rooms: 327
      Location: Lafayette, Los Angeles

Interstate currently manages three of the properties and
previously managed the Latham hotel for the Blackstone Group and
MeriStar Hospitality.  Upon closing, Interstate will manage all
four hotels under new management agreements.

The partnership plans to invest more than $30 million of
additional funds for renovations on the hotels over the
24 months following the acquisition, with Interstate's
contribution expected to be approximately $2 million.

"This joint venture represents a continuation of our hotel real
estate ownership strategy and expands our JV partner universe,"
Thomas F. Hewitt, Interstate's chief executive officer, said. "The
four-hotel portfolio was attractively priced, at or below
replacement costs, and aligns well with our portfolio of wholly
owned and JV real estate holdings.

"The hotel package includes two key upscale, full-service brands,
Hilton and Sheraton, and a well-recognized independent boutique
hotel in Georgetown that offers significant repositioning
opportunity," Mr. Hewitt added.  "Three of the properties are
located in key urban and major suburban markets with strong
barriers to entry-Washington, D.C., northern New
Jersey, and the Philadelphia area.  The fourth property, the
Hilton in Lafayette, La., is having an exceptional year with
RevPAR growth in excess of 20%, and we expect the hotel to provide
strong, stable cash flow going forward. With the anticipated
capital investment, this entire portfolio has considerable upside
operating potential."

"As one of the few management/ownership companies with a strong
and growing international presence, we will continue to seek
global opportunities and relationships," Leslie Ng, Interstate's
chief investment officer, said.

"Harte Holdings is a highly regarded Irish investment and
development company which owns a wide variety of real estate
projects in the United Kingdom, Ireland and mainland Europe, and
we look forward to exploring other opportunities together, both
domestically and abroad," she added.

"This is our first hotel joint venture in the U.S., and
Interstate, with its successful track record, its management
expertise, and the advantages afforded by its size, represents a
very strong partner," Donal Kelleher, investment director of Harte
Holdings, said.  "We look forward to expanding our relationship
with other similar opportunities."

                      About Harte Holdings

Based in Cork, Ireland, Harte Holdings is an investment and
development company which owns a wide variety of real estate
projects in the United Kingdom, Ireland and mainland Europe, with
a portfolio consisting of hotels, residential, commercial and
retail assets in these areas.

             About Interstate Hotels & Resorts Inc.

Headquartered in Arlington, Virginia, Interstate Hotels &
Resorts Inc. (NYSE: IHR)-- http://www.ihrco.com/-- as of
Nov. 30, 2007, Interstate Hotels & Resorts owned seven hotels
and had a minority ownership interest through separate joint
ventures in 22 hotels and resorts.  Together with these
properties, the company and its affiliates manages a total of 192
hospitality properties with more than 43,000 rooms in
36 states, the District of Columbia, Belgium, Canada,
Ireland, Mexico and Russia.  Interstate Hotels & Resorts also has
contracts to manage 15 hospitality properties with approximately
4,400 rooms currently under construction.

                          *     *     *

Interstate Hotels & Resorts Inc. continues to carry Moody's
Investor Services' 'B1' long term corporate family rating, which
was placed in January 2007.  The outlook is negative.


JAMES SAUNDERS: Case Summary & 18 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: James L. Saunders
        490 Hansel Road
        Sumner, GA 31789

Bankruptcy Case No.: 07-11650

Type of Business: The Debtor filed for Chapter 11 protection on
                  May 9, 2007 (Bankr. M.D. Ga. Case No. 07-10557).

Chapter 11 Petition Date: December 3, 2007

Court: Middle District of Georgia (Albany)

Debtor's Counsel: Wesley J. Boyer, Esq.
                  Katz, Flatau, Popson and Boyer, LLP
                  355 Cotton Avenue
                  Macon, GA 31201
                  Tel: (478) 742-6481
                  Fax: (478) 742-0108

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's list of its 18 Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
SB&T                             202-acre farm           $470,519
201 East Lamar Street
Americus, GA 31709

TRO Advisors                     Fee                     $447,109
2212 Dupont Drive, Suite L
Irvine, CA 92612

Citizen's Bank of Americus       263 Acre Farm           $553,604
P.O. Box 1128                                            Secured:
Americus, GA 31709                                       $320,250

G. Earl Snider                   Offset                  $175,000

Farm Credit Sylvester, GA        Farmhouse               $644,569
                                                         Secured:
                                                         $503,500
                                                       Unsecured:
                                                         $141,069

Farm Plan                        Account                 $115,000

Farm Commodities                 Crops                    $80,000

CNH Capital America, LLC         Equipment                $99,889
                                                         Secured:
                                                          $20,000

Trinity Capital                  Account                  $70,000

National Business Brokers                                 $50,000

Reynolds & Reynolds              Computer                 $35,000

AgriCredit                       McCormick Tractor        $72,830
                                                         Secured:
                                                          $50,000

Manifest Funding                 Account                  $20,000

Case Credit                      240 Case Tractor         $64,000
                                                         Secured:
                                                          $50,000

                                 2094 Tractor              $7,609
                                                         Secured:
                                                           $7,500

                                 Harrow                   $18,019
                                                         Secured:
                                                          $18,000

Bank of America                  Credit Card              $14,012

Georgia Department of Revenue    Taxes                     $2,943

American Arbitration Assoc.      Account                   $2,500

John Deere Credit                Equipment                $18,490
                                                         Secured:
                                                          $18,000


JAYS FOODS: Court OKs $24.8 Mil. BuyOut Pact With Jays Acquisition
------------------------------------------------------------------
The Honorable Pamela S. Hollis of the U.S. Bankruptcy Court for
the Northern District of Illinois approved Tuesday an asset
purchase agreement between Jays Foods Inc. and Select Snacks Inc.
and Jay's Acquisition Inc.

Under the APA dated as of Oct. 9, 2007, Jay's Acquisition will buy
substantially all of the Debtors' assets including inventory and
equipment for the sum of $24,850,000.

At closing of the sale, $1,650,000 of the cash proceeds will be
paid to the Debtors to satisfy claims asserted against the
estates, exlusive of claims asserted by the Debtors' senior
secured and debtor-in-possession lenders who waived their rights.

As a result of the approved buyout, Jays Foods will close down for
good its production facility at Pullman and lay off about 220
employees, Cheryl V. Jackson writes for The SunTimes.

However, the warehouse and distribution facility in Pullman with
about 420 workers and its facility at Jeffersonville with 250
workder will remain open, according to the report.

                     About Jay's Acquisition

Jay's Acquisition Inc., also known as Synder's of Hanover Inc., --
http://www.snydersofhanover.com/-- is a bakery and snack food
distribution company based in Hanover, Pennsylvania, specializing
in pretzels.  Its products are sold throughout the United States,
Canada, many European nations, southeast Asia, and in the Middle
East.  The bakery offers no fewer than 21 varieties of traditional
pretzels and in addition, pretzel pieces, pretzel sandwiches,
coated pretzels, multi-grain pretzels, chips, and other snack
foods.  It was originally Hanover Pretzel Company in 1909.  In
1963, Hanover Foods Corporation bought the company but the company
spinned off and became independent in 1981.

                        About Jays Foods

Chicago-based Jays Foods Inc. -- http://www.jaysfoods.com/--
wholesales confectionery products and manufactures snack chip
products.  Jays Foods leases real property, and owns certain
equipment, in Chicago, Illinois where it operates a manufacturing
facility that makes snacks mostly under the Jays, O-KE-DOKE and
Krunchers brand names.  Jays is 100% owned by Jays Holding
Company, Inc.

The company, then known as Jays Food LLC, first filed for chapter
11 protection on March 5, 2004 (Bankr. N.D. Ill. Case No. 04-
08681).  David Missner, Esq., Marc I. Fenton, Esq. and Thomas
Zwartz, Esq. at Piper Rudnick LLP were counsels to the Debtor.  In
the March 2004 case, a Section 363 sale took place and most of the
assets of former Jays Foods were sold to Jays Foods Acquisition
Inc., predecessor to Jays Foods Inc.  The March 2004 case was
closed on or about March 9, 2007.

Select Snacks Inc., on the other hand, owns real property,
improvements and equipment in Jeffersonville, Indiana where it
operates a manufacturing facility that makes private label and co-
manufactured snacks for its customers.  Select Snacks is 100%
owned by Select Snacks Holdings Company, Inc.

Both Select Holding and Jays Holding are 100% owned by Ubiquity
Brands LLC.

As of the Oct. 11, 2007, the Debtors had approximately 943
employees of which Select has 262 (211 union employees and, 51
non-union employees) and Jays has 681 total employees (236 union
employees and 445 non-union employees).

Jays Foods and Select Snacks filed voluntary chapter 11 petitions
on Oct. 11, 2007 (Bankr. N.D. Ill. Case Nos. 07-18768 and
07-18769).  Mark K. Thomas, Esq., Brian I. Swett, Esq., Jeremy T.
Stillings, Esq., Myja K. Kjaer, Esq., at Winston & Strawn LLP,
represent the Debtors.  Kurtzman Carson Consultants LLC serve as
their notice, claims and balloting agent.  The Official Committee
of Unsecured Creditors has selected Jeffrey N. Pomerantz, Esq.,
and Jeffrey W. Dulberg, Esq., at Pachulski Stang Ziehl & Jones
LLP, as its counsel.  When the Debtors sought protection from
their creditors, they listed assets and debts between $10 million
and $50 million.


JOCKEYS' GUILD: Industry Participants Say Assistance is Unlikely
----------------------------------------------------------------
Alex Waldrop, president of The National Thoroughbred Racing
Association, said that participants in the horse-racing industry
are wary of assisting The Jockeys' Guild Inc. on fears that the
money will just go to its former president, Wayne Gertmenian,
Gregory Hall of The Courier-Journal reports.

According to court documents, the Debtor had listed Mr. Gertmenian
as its largest unsecured creditor with a claim of $915,000 for
contract dispute.  Mr. Gertmenian has been named as a member of
the Official Committee of Unsecured Creditors.

National manager Terry Meyock, Mr. Hall relates, says that Mr.
Waldrop's views comes as no surprise.

In the guild's annual assembly, Mr. Meyocks said that the
bankruptcy filing was not only done in order to protect the guild
from a possible lawsuit from  Mr. Gertmenian, but it was also due
to cash-flow, the report adds.

Headquartered in Louisville, Kentucky, Jockeys' Guild Inc. --
http://www.jockeysguild.com/-- is a labor union based in
Monrovia, California, representing thoroughbred horse racing and
quarter horse professional jockeys.

The company filed for chapter 11 bankruptcy protection on Oct. 12,
2007 (Bankr. W.D. Ky. Case No. 07-33600) in hopes to solve
problems relating to its insurance through its bankruptcy filing.
Lea Pauley Goff, Esq. and Gregory D. Pavey, Esq. at Stoll Keenon
Ogden PLLC represent the Debtor in its restructuring efforts.  In
schedules filed with the Court, the Debtor disclosed total assets
of $3,796,376 and total debts of $3,039,456.


KNOLL INC: Paying $0.12/Share Cash Dividend on December 28
----------------------------------------------------------
Knoll Inc.'s board of directors declared a quarterly cash dividend
of $0.12 per share payable Dec. 28, 2007, to stockholders of
record on Dec. 14, 2007.

The board intends to declare and pay quarterly dividends of $0.12
per share on our common stock.  The declaration and payment of
dividends is subject to the discretion of the board and depends on
various factors, including the company's net income, restrictions
in our credit facility, financial position, cash requirements and
other factors deemed relevant by its board.

Based in East Greenville, Pennsylvania, Knoll Inc. (NYSE: KNL) --
http://www.knoll.com/-- designs and manufactures branded office
furniture products and textiles, serves clients worldwide.  It
distributes its products through a network of more than 300
dealerships and 100 showrooms and regional offices.  The company
has locations in Argentina, Australia, Bahamas, Cayman Islands,
China, Colombia, Denmark, Finland, Greece, Hong Kong, India,
Indonesia, Japan, Korea, Malaysia, Philippines, Poland, Portugal
and Singapore, among others.

                          *     *     *

Standard & Poor's placed Knoll Inc.'s long term foreign and local
issuer credit ratings at 'BB' in July 2006.  The ratings still
hold to date with a stable outlook.


L TERSIGNI: U.S. Trustee Wants Case Converted to Chapter 7
----------------------------------------------------------
Diana G. Adams, the United States Trustee for Region 2, asks the
United States Bankruptcy Court for the District of Connecticut to
convert L. Tersgini Consulting CPA, P.C.'s Chapter 11 case to a
Chapter 7 liquidation proceeding.

The U.S. Trustee argues, among others, that the Debtor's case
should be converted because:

   a) in light of Loreto Tersigni's significant role in the
      Debtor's fraud, it is probable that the Debtor will have
      breach of duty and other claims against Mr. Tersigni; and

   b) the sole fiduciary in charge of the Debtor, Nancy Tersigni,
      is incapable of investigating a claim against Mr.
      Tergsigni's probate estate.

The U.S. Trustee points out that Nancy Tersigni has conflicting
interest in protecting Mr. Tersigni's reputation in avoiding
factual findings that could make it difficult to defend any
indemnification that the Debtor might have against the probate
estate for claims related to the asbestos cases.

Furthermore, the U.S. Trustee says, the Debtor's Chapter 11
liquidation plan fails the best interest creditors test pursuant
to Section 1129(a)(7)(A)(ii) of the Bankruptcy Code.

Based in Stamford, Connecticut, L. Tersigni Consulting CPA, P.C.
was engaged in the business of accounting and financial advisor to
various constituencies in mattters relating to claims asserted
primarily in asbestos litigation and asbestos related bankruptcy
cases.  The company filed for chapter 11 protection on Nov. 14,
2007 (Bankr. D. Conn. Case No. 07-50702).  Carol A. Felicetta,
Esq., at Reid and Riege, P.C., represents the Debtor in its
restructuring efforts.  No Official Committee of Unsecured
Creditors has been appointed in this case to date.  The Debtor's
schedules listed total assets of $2,229,659 and total debts of
$246,564.


LEFT BEHIND: Sept. 30 Balance Sheet Upside-Down by $1,219,428
-------------------------------------------------------------
Left Behind Games Inc.'s consolidated balance sheet at Sept. 30,
2007, showed $1,570,786 in total assets and $2,790,214 in total
liabilities, resulting in a $1,219,428 total stockholders'
deficit.

At Sept. 30, 2007, the company's consolidated balance sheet
moreover showed strained liquidity with $1,163,430 in total
current assets available to pay $2,782,681 in total current
liabilities.

The company reported a net loss of $1,395,882 on net revenues of
$26,561 for the second quarter ended Sept. 30, 2007, compared with
a net loss of $14,863,161 on $-0- of revenues in the comparable
period a year ago.

Selling, general and administrative expenses were $1,086,129 for
the three months ended Sept. 30, 2007, compared to $14,605,287 for
the three months ended Sept. 30, 2006.

Non-cash charges relating to payments to consultants were
$516,041 and $10,786,168 for the three months ended Sept. 30,
2007, and 2006, respectively.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?260b

                       Going Concern Doubt

KMJ Corbin and Company LLP, in Irvine, Calif., expressed
substantial doubt about Left Behind Games Inc.'s ability to
continue as a going concern after auditing the company's
consolidated financial statements for the years ended March 31,
2007 and 2006.  The auditing firm reported that the company has
incurred significant operating losses and negative cash flows from
operations through March 31, 2007, and has an accumulated deficit
at March 31, 2007.

                     About Left Behind Games

Based in Murrieta, Calif., Left Behind Games Inc. (OTC BB: LFBG) -
- http://www.leftbehindgames.com/-- a Washington corporation
doing business through its subsidiary Left Behind Games Inc., a
Delaware corporation, is in the business of developing and
publishing video game products based upon the popular Left Behind
series of novels.  The company has the exclusive world-wide rights
to the Left Behind book series and brand, for the purpose of
making video games.


LODGENET ENTERTAINMENT: Board OKs $15 Million Stock Repurchase
--------------------------------------------------------------
LodgeNet Entertainment Corporation's board of directors has
authorized a stock repurchase program of up to $15 million,
the full amount currently permitted for such program under its
senior credit facility.  The repurchase program will be funded
using the company's available cash.  As of Sept. 30, 2007, the
company had cash and cash equivalents of $32.1 million.

"This statement reflects the board of directors' belief in the
long-term shareholder value we are creating as we continue to
execute on our strategic business plan," Scott C. Petersen,
LodgeNet president and CEO, said.  "Given the substantial level of
cash we presently hold, the growing level of free cash flow we
anticipate generating in 2008 and beyond, and the current price of
our common stock, the board concluded that it was the correct time
to implement this program."

Pursuant to the repurchase program the company intends to purchase
shares of its common stock from time to time on the open market.

The purchases will be funded from available cash and cash
equivalents, and the timing and amount of any shares repurchased
will be determined by LodgeNet based on its evaluation of
financial and market conditions, legal requirements and other
factors.  The repurchase program may be suspended or discontinued
at any time.

Based in Sioux Falls, South Dakota, LodgeNet Entertainment
Corporation (NASDAQ:LNET) -- http://www.lodgenet.com/-- is the
provider of media and connectivity services designed to meet the
needs of hospitality, healthcare and other visitor and guest-based
businesses.  LodgeNet serves more than 1.9 million hotel rooms
representing 9,300 hotel properties worldwide in addition to
healthcare facilities throughout the United
States.  LodgeNet's services include on demand movies, games,
television programming, music and information, along with
subscription sports programming and high-speed Internet access.
LodgeNet Entertainment Corporation owns and operates businesses
under these brands: LodgeNet, LodgeNetRX, On Command and
StayOnline.

                          *     *     *

Moody's Investor Services placed LodgeNet Entertainment
Corporation 's bank loan debt rating st 'B1' in April 2007.  The
rating still hold to date with a stable outlook.


MBIA INC: Shrinks Hudson Thames SIV to $400 Million
---------------------------------------------------
MBIA Inc. is winding down its structured investment vehicle after
an attempt to sell the SIV's short-term debt, which began August
2007, failed, Bloomberg News reports citing CFO Chuck Chaplin.

Mr. Chaplin said MBIA's asset sales to bondholders has shrunk its
Hudson Thames Capital SIV to about US$400 million from US$2
billion, Bloomberg relates.  The bond insurer has also taken an
impairment on its own US$15.8 million equity stake, Mr. Chaplin
added.

According to Bloomberg's Christine Richard and Neil Unmack, SIVs
are collapsing because investors are staying away from asset-
backed debt in light of the U.S. subprime crisis.  SIVs borrow
short-term debt to buy higher yielding assets, Bloomberg relates.

                   Pershing Sees Insolvency
                     Absent More Capital

Meanwhile, Pershing Square Capital Management's William Ackman
said MBIA could be insolvent as early as the second quarter of
2008 if it fails to access additional capital, Reuters relates.
Mr. Ackman estimates up to US$2.2 billion in losses at MBIA in the
fourth quarter of 2007, Reuters adds.

                           About MBIA

Based in Armonk, New York, MBIA Inc. -- http://www.mbia.com/-- is
a premier financial guarantor and a leading provider of fixed-
income investment management services. The Company's core business
is credit enhancement of municipal bonds and asset-and mortgage-
backed transactions in the new issue and secondary markets.  The
company holds offices in New York, Denver, San Francisco, Paris,
London, Madrid, Milan, Sydney and Tokyo.


MBS-THE TRAILS: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Lead Debtor: M.B.S.-The Trails, Ltd.
             1 Galleria Place, Suite 1950
             Metairie, LA 70001

Bankruptcy Case No.: 07-45430

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
        M.B.S.-Fox Chase, Ltd.                     07-45431

Type of Business: The Debtors own and manages real estate.
                  M.B.S. Management Services, Inc., an
                  affiliate of the Debtors, filed for
                  Chapter 11 protection on Nov. 5, 2007
                  (Bankr. E.D. La. Case No. 07-12151).

Chapter 11 Petition Date: December 4, 2007

Court: Northern District of Texas (Fort Worth)

Judge: D. Michael Lynn

Debtors' Counsel: J. Robert Forshey, Esq.
                  Matthew G. Maben, Esq.
                  Forshey & Prostok, L.L.P.
                  777 Main St., Suite 1290
                  Ft. Worth, TX 76102
                  Tel: (817) 877-8855
                  Fax: (817) 877-4151

                            Estimated Assets       Estimated Debts
                            ----------------       ---------------
M.B.S.-The Trails, Ltd.     $1 Million to          $1 Million to
                            $10 Million            $10 Million

M.B.S.-Fox Chase, Ltd.      $1 Million to          $1 Million to
                            $10 Million            $10 Million

The Debtors did not file a list of their largest unsecured
creditors.


MBS MANAGEMENT: Case Summary & 194 Largest Unsecured Creditors
--------------------------------------------------------------
Lead Debtor: M.B.S. Management Services, Inc.
             One Galleria Boulevard, Suite 1950
             Metairie, LA 70001

Bankruptcy Case No.: 07-12151

Debtor-affiliates filing separate Chapter 11 petitions on
December 3, 2007:

        Entity                                     Case No.
        ------                                     --------
        M.B.S.-Forest Cove, Ltd.                   07-12363
        M.B.S.-Claremore, Ltd.                     07-12397
        M.B.S.-Colonnade, Ltd.                     07-12398
        M.B.S.-Las Ventanas, Ltd.                  07-12399
        M.B.S.-Indian Hollow, Ltd.                 07-12400
        M.B.S.-Mirada, Ltd.                        07-12401
        M.B.S.-Sage Creek, Ltd.                    07-12402
        M.B.S.-Walnut Creek, Ltd.                  07-12403

Debtor-affiliates filing separate Chapter 11 petitions on
November 19, 2007:

        Entity                                     Case No.
        ------                                     --------
        M.B.S.-South Point Apartments              07-12283

Debtor-affiliates filing separate Chapter 11 petitions on
November 5, 2007:

        Entity                                     Case No.
        ------                                     --------
        Northcastle, Ltd.                          07-12152
        M.B.S.-Woodland Hills, Ltd.                07-12153
        M.B.S.-The Windward, Ltd.                  07-12155
        M.B.S.-The Leeward, Ltd.                   07-12156
        M.B.S.-Serrano, Ltd.                       07-12157
        M.B.S.-Fountains of Tomball, Ltd.          07-12158
        M.B.S.-Country Village, Ltd.               07-12154

Type of Business: The Debtors are real estate agents and managers.
                  M.B.S.-The Trails, Ltd. and M.B.S.-Fox Chase,
                  Ltd., affiliates of the Debtor,
                  filed for Chapter 11 protection on Dec. 4, 2007
                  (Bankr. N.D. Tex. Case Nos. 07-45430 and
                  07-45431, respectively).

Chapter 11 Petition Date: November 5, 2007

Court: Eastern District of Louisiana (New Orleans)

Judge: Elizabeth W. Magner

Debtors' Counsel: Tristan E. Manthey, Esq.
                  Heller, Draper, Hayden, Patrick & Horn
                  650 Poydras Street, Suite 2500
                  New Orleans, LA 70130
                  Tel: (504) 568-1888
                  Fax: (504) 522-0949

                        -- and --

                  William E. Steffes, Esq.
                  Steffes Vingiello & McKenzie, L.L.C.
                  13702 Coursey Boulevard, Building 3
                  Baton Rouge, LA 70817
                  Tel: (225) 751-1751
                  Fax: (225) 751-1998

Financial condition of debtors filing separate Chapter 11
petitions on November 5, 2007:

                           Estimated Assets       Estimated Debts
                           ----------------       ---------------
M.B.S. Management          $1 Million to          $1 Million to
Services, Inc.             $100 Million           $100 Million


Northcastle, Ltd.          $1 Million to          $1 Million to
                           $100 Million           $100 Million

M.B.S.-Woodland Hills,     $1 Million to          $1 Million to
Ltd.                       $100 Million           $100 Million

M.B.S.-The Windward,       $1 Million to          $1 Million to
Ltd.                       $100 Million           $100 Million

M.B.S.-The Leeward, Ltd.   $1 Million to          $1 Million to
                           $100 Million           $100 Million

M.B.S.-Serrano, Ltd.       $1 Million to          $1 Million to
                           $100 Million           $100 Million

M.B.S.-Fountains of        $1 Million to          $1 Million to
Tomball, Ltd.              $100 Million           $100 Million

M.B.S.-Country Village,    $1 Million to          $1 Million to
Ltd.                       $100 Million           $100 Million

Gillespie Acquisition,     $1 Million to          $1 Million to
                           $100 Million           $100 Million

A.F.M. 711, Inc.           $100,000 to            $1 Million to
                           $1 Million             $100 Million

A.F.M. 717, Inc.           Less than              $1 Million to
                           $10,000                $100 Million

Financial condition of debtors filing separate Chapter 11
petitions on November 19, 2007:

                           Estimated Assets       Estimated Debts
                           ----------------       ---------------
M.B.S.-South Point         $1 Million to          $1 Million to
Apartments                 $100 Million           $100 Million

Financial condition of debtors filing separate Chapter 11
petitions on December 3, 2007:

                            Estimated Assets       Estimated Debts
                            ----------------       ---------------
M.B.S.-Forest Cove, Ltd.    $1 Million to          $1 Million to
                            $100 Million           $100 Million

M.B.S.-Claremore, Ltd.      $1 Million to          $1 Million to
                            $100 Million           $100 Million

M.B.S.-Colonnade, Ltd.      $1 Million to          $1 Million to
                            $100 Million           $100 Million

M.B.S.-Las Ventanas, Ltd.   $1 Million to          $1 Million to
                            $100 Million           $100 Million

M.B.S.-Indian Hollow, Ltd.  $1 Million to          $1 Million to
                            $100 Million           $100 Million

M.B.S.-Mirada, Ltd.         $1 Million to          $1 Million to
                            $100 Million           $100 Million

M.B.S.-Sage Creek, Ltd.     $1 Million to          $1 Million to
                            $100 Million           $100 Million

M.B.S.-Walnut Creek, Ltd.   $1 Million to          $1 Million to
                            $100 Million           $100 Million

A. Consolidated List of 14 Largest Unsecured Creditors of Debtors
   filing separate Chapter 11 petitions on November 5, 2007:

   Entity                      Claim Amount
   ------                      ------------
Wilmar                         $100,000
200 East Park Drive
Mount Laurel, NJ 08054

A.I.G. Insurance               $95,000
P.O. Box 409
Parsippany, NJ 07054-0409

C.P.S. Energy                  $70,000
7000 San Pedro
San Antonio, TX 78216

Precision Landscaping          $65,000

Waste Management               $62,000

Marvin Poer                    $60,000

Gratr Landscapes               $60,000

Signature Landscaping          $45,000

Constellation New Energy       $30,000

Davis Brown Law Firm           $30,000

Jackson Lewis Law Firm         $30,000

Eggleston & Brisco Law Firm    $21,000

Jr. Remodeling & Paint         $16,000
International

W.L.S. Landscaping             $26,000

B. M.B.S.-South Point Apartments 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
Network Multi-Family           $20,293
Security Corp.
P.O. Box 910773
Dallas, TX 75391-0773

Rasa Floors                    $13,920
P.O. Box 619130
Dallas, TX 75261-9130

Wilmar Supply Co., Inc.        $11,747
200 East Park Drive,
Suite 200
Mt. Laurel, NJ 00854

DeSoto Water Utilities         $11,271

Stonehenge Carpet Care         $2,976

Ducan Disposal                 $1,583

The Grass Guy                  $1,250

MXENERGY                       $1,110

FINDIT                         $867

Apartment Finders              $852

Little Giant Beekeepers        $785

Redi-Carpet                    $767

Leslie's Pool Supplies, Inc.   $654

D&L Plumbing                   $475

Great American Business        $385

Wright & Percy                 $328

Signius                        $320

Moving is Free, Inc.           $275

ENVIROTROL                     $266

Free Move Free Money           $250

C. M.B.S.-Forest Cove, Ltd's 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
San Antonio Water System       $8,586
2800 U.S. Highway 281 North,
4th Floor collection
San Antonio, TX 789299-2990

Sanivac/Davis Manufacturing    $7,944
P.O. Box 7269
San Antonio, TX 78207

Marvin Poer & Co.              $6,818
12700 Hillcres Road, Suite 125
Dallas, TX 75230

Geary, Porter & Donovan, P.C.  $5,799

Apartment Hunters              $5,246

Wilmar Supply Co., Inc.        $4,924

City Public Service            $4,808

Schweickart & Associates, Inc. $4,286

H.P.C. Publications            $3,824

T.D. Industries, Ltd.          $3,200

Keytrak, Inc.                  $3,123

Dixie Carpet                   $3,014

Independence Carpet Care       $2,898

Firm Alarm Control System      $2,834

Rasa Floors                    $2,733

Waste Management               $2,727

Aladdin Cleaning &             $2,700
Restoration, Inc.

More than Clean                $2,557

Pronto Rooters, Inc.           $2,280

Apartment & Relocation Center  $2,094

D. M.B.S.-Claremore, Ltd's 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
Bexar Met Water District       $65,393
P.O. Box 245994
San Antonio, TX 78224-5994

Sanivac/Davis Manufacturing    $20,138
P.O. Box 7269
San Antonio, TX 78207

The Discovery Group, Inc.      $14,159
9119 Katy Freeway, Suite 300
Houston, TX 77024-0000

San Antonio Water System       $12,069

Apartment Mailed Direct        $7,400

Wilmar Supply Co., Inc.        $4,579

City Public Service            $4,411

Samaria Print Services         $3,955

Firetol Protection Systems,    $3,373
Inc.

Rylitt Construction and        $3,263
Services, Inc.

Fresh's Commercial Cleaning    $2,448
Service

South Texas Powerwash &        $2,433
Striping, Inc.

Rasa Floors                    $2,295

Waste Management               $2,242

Maravin Poer & Co.             $2,186

All Done Co.                   $2,095

All Texas Apartment Locators   $2,074

The Arrangement                $1,873

Color Genesis                  $1,530

Worldwide Pest Control, Inc.   $1,352

E. M.B.S.-Colonnade, Ltd's 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
San Antonio Water System       $8,586
2800 U.S. Highway 281 North,
4th Floor collection
San Antonio, TX 789299-2990

Sanivac/Davis Manufacturing    $7,944
P.O. Box 7269
San Antonio, TX 78207

Marvin Poer & Co.              $6,818
12700 Hillcres Road, Suite 125
Dallas, TX 75230

Geary, Porter & Donovan, P.C.  $5,799

Apartment Hunters              $5,246

Wilmar Supply Co., Inc.        $4,924

City Public Service            $4,808

Schweickart & Associates, Inc. $4,286

H.P.C. Publications            $3,824

T.D. Industries, Ltd.          $3,200

Keytrak, Inc.                  $3,123

Independence Carpet Care       $2,898

Firm Alarm Control System      $2,834

Rasa Floors                    $2,733

Waste Management               $2,727

Aladdin Cleaning &             $2,700
Restoration, Inc.

More than Clean                $2,557

Pronto Rooters, Inc.           $2,280

Apartment & Relocation Center  $2,094

Relocation Central by Cort/    $2,077
Spectrum Ap.

F. M.B.S.-Las Ventanas, Ltd's 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
Marvin Poer & Co.              $38,832
12700 Hillcrest Road,
Suite 125
Dallas, TX 75230

Wilmar Supply Co., Inc.        $24,649
200 East Park Drive,
Suite 200
Mt. Laurel, NJ 00854

Harris County M.U.D.D.         $19,426
11302 Tanner Road
Houston, TX 77041

Westland Section Two Owners    $19,170
Association c/o As.

MXENERGY, Inc.                 $14,178

Rasa Floors                    $10,043

Eliazar R. Rivera              $7,590

Waste Management               $5,496

Rylitt Construction and        $3,767
Services, Inc.

C.K.I. Wholesale Lock Supply,  $968
Inc.

Apartments for Rent            $945

Prest Maintenance Supply, Inc. $906

Keytrak, Inc.                  $847

Hardman Signs                  $704

Houston Champions Real Estate  $619
Group, L.L.C.

RE/MAX Professional Group      $579

Envirotrol                     $517

Destination Real Estate &      $464
Apartment Locating

Apartment Direction, Inc.      $449

The Midas Real Estate Group    $434

G. M.B.S.-Indian Hollow, Ltd's 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
Marvin Poer & Co.              $12,319
12700 Hillcrest Road,
Suite 125
Dallas, TX 75230

Wilmar Supply Co., Inc.        $8,938
200 East Park Drive,
Suite 200
Mt. Laurel, NJ 00854

Blackmoon-Mooring Steamatic,   $8,669
Inc.
4808 Perrin Creek
San Antonio, TX 78217

Sanivac/Davis Manufacturing    $7,789

Geary, Porter & Donovan, P.C.  $5,841

G.E. Capital                   $5,686

Waste Management               $4,550

City Public Service            $4,362

Rylitt Construction and        $4,145
Services

A.B.C. Apartment Locating      $3,172

Fresh's Commercial Cleaning    $2,857
Service

Appliance Warehouse of         $2,070
America, Inc.

Champion Submetering           $1,731
Solutions, L.L.C.

Sherwin Williams               $1,654

T.N.T. Office Supply, Inc.     $1,525

Changing Surface, Inc.         $1,517

Apartment & Relocation Center  $1,428

Consumer Source, Inc.          $1,339

Worldwide Pest Control, Inc.   $1,225

American Business Machines     $1,185

H. M.B.S.-Mirada, Ltd's 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
San Antonio Water System       $23,831
P.O. Box 2990
San Antonio, TX 78299-2990

Firetol Protection Systems,    $15,044
Inc.
3453 I.H. 35 North, Suite 21
San Antonio, TX 78219

Dolphin Capital Corp.          $11,634
2061 North Morely
Moberly, MO 65270

Wilmar Supply Co., Inc.        $10,251

Rasa Floors                    $7,970

Sanivac/Davis Manufacturing    $7,194

Geary, Porter & Donovan, P.C.  $5,455

City Public Service            $5,367

Marvin Poer & Co.              $3,888

Waste Management               $3,787

C.T. Corp.                     $3,320

Premier Apartment Locating     $3,301

Apartment Hunters              $3,159

Schwelckart & Associates, Inc. $3,936

A.B.C. Apartment Locating      $2,936

Ace Fire Equipment             $2,883

Apartments Now                 $2,144

Apartment Home Living          $1,566

I.C.I. Delux Paint             $1,395

Integrated Office Systems      $1,329

I. M.B.S.-Sage Creek, Ltd's 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
Marvin Poer & Co.              $12,319
12700 Hillcrest Road,
Suite 125
Dallas, TX 75230

Wilmar Supply Co., Inc.        $8,938
200 East Park Drive,
Suite 200
Mt. Laurel, NJ 00854

Blackmoon-Mooring Steamatic,   $8,669
Inc.
4808 Perrin Creek
San Antonio, TX 78217

Sanivac/Davis Manufacturing    $7,789

Geary, Porter & Donovan, P.C.  $5,841

G.E. Capital                   $5,686

Waste Management               $4,550

City Public Service            $4,362

Rylitt Construction and        $4,145
Services

A.B.C. Apartment Locating      $3,172

Fresh's Commercial Cleaning    $2,857
Service

Appliance Warehouse of         $2,070
America, Inc.

Champion Submetering           $1,731
Solutions, L.L.C.

Sherwin Williams               $1,654

T.N.T. Office Supply, Inc.     $1,525

Changing Surface, Inc.         $1,517

Apartment & Relocation Center  $1,428

Consumer Source, Inc.          $1,339

Worldwide Pest Control, Inc.   $1,225

American Business Machines     $1,185

J. M.B.S.-Walnut Creek, Ltd's 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
Wilmar Supply Co., Inc.        $18,566
200 East Park Drive,
Suite 200
Mt. Laurel, NJ 00854

Rasa Floors                    $17,404
P.O. Box 619130
Dallas, TX 75261-9130

Landscapes U.S.A.              $14,614
3201 Industrial Terrace,
Suite 100
Austin, TX 78745

G.T. Carpet Care               $8,933

Metropolitan Investigations    $7,570
Bureau

Meyer Smith, Inc.              $7,345

Carpet Warehouse/Schmitz       $6,182
Carpet Care

H.P.C. Publications            $4,450

City of Austin Utilities       $4,037

PowerHouse Carpet Cleaning     $2,912

Drytex                         $2,817

Waste Management               $2,801

City of Austin                 $2,341

Champion Submetering           $2,245
Solutions, L.L.C.

Simplexgrinnelll               $2,173

Master Touch Carpet Care       $2,170

Sanivac/Davis Manufacturing    $1,889

Apartment Mailed Direct        $1,797

T-N-T Glass & Mirror           $1,776

Citywide Apartment Locators    $1,688


MERRILL LYNCH: Fitch Holds 'BB-' Rating on Class B-5 Certs.
-----------------------------------------------------------
Fitch Ratings has affirmed these classes of Merrill Lynch Credit
Corporation mortgage pass-through certificates:

Series 2004-D:

  -- Class A at 'AAA';
  -- Class B-1 at 'AA+';
  -- Class B-2 at 'AA-';
  -- Class B-3 at 'A-';
  -- Class B-4 at 'BBB-';
  -- Class B-5 at 'BB-'.

The collateral in the aforementioned transaction consists of
adjustable-rate mortgages extended to prime borrowers secured by
first liens on primarily one- to four-family residential
properties.  At issuance, the mortgage loans for series 2004-D
were originated or acquired in accordance with the underwriting
guidelines of Merrill Lynch Credit Corporation.

The affirmations reflect a satisfactory relationship between
credit enhancement and future loss expectations and affect
approximately $273.2 million of outstanding certificates.  As of
the Oct. 25, 2007 distribution date, the trust is seasoned 38
months and has a pool factor (current balance as a percentage of
the original balance) of 18%.  The cumulative losses to date are
0.02% and the 60+ delinquency (inclusive of loans in foreclosure
and REO) is 0.65%.

The loans are being serviced by PHH Mortgage Corporation, which is
rated 'RPS1-' by Fitch, and on Rating Watch Negative.


MERRILL LYNCH: Moody's Lowers Rating on Class B-2 Certs. to B3
--------------------------------------------------------------
Moody's Investors Service has downgraded 11 certificates and
placed on review for possible downgrade 1 class of certificates
from two transactions issued by Merrill Lynch Mortgage Investors
Trust.  Both transactions are backed by second lien loans.  The
certificates were downgraded or placed on review for possible
downgrade because the bonds' credit enhancement levels, including
excess spread and subordination, were too low compared to the
current projected loss numbers at the previous rating levels.

Substantial pool losses of over the last few months have continued
to erode credit enhancement available to the mezzanine and senior
certificates.  Despite the large amount of write-offs due to
losses, delinquency pipelines have remained high as borrowers
continue to default.  The actions reflect Moody's expectation that
the significant delinquency pipelines will have a further negative
impact on the credit support for the senior and mezzanine
certificates.

Complete rating actions are:

Issuer: Merrill Lynch Mortgage Investors Trust 2006-SL1

  -- Class B-1, Downgraded to Ba2 from Baa3;
  -- Class B-2, Downgraded to B3 from Ba1;
  -- Class B-3, Downgraded to Caa2 from Ba3;
  -- Class B-4, Downgraded to Ca from B3;

Issuer: Merrill Lynch Mortgage Investors Trust 2006-SL2

  -- Class M-2, Placed on Review for Possible Downgrade,
     currently Aa3;
  -- Class M-3, Downgraded to Baa3 from A2;
  -- Class M-4, Downgraded to Ba2 from Baa1;
  -- Class M-5, Downgraded to B2 from Baa2;
  -- Class M-6, Downgraded to Caa2 from Baa3;
  -- Class M-7, Downgraded to Ca from Ba1;
  -- Class M-8, Downgraded to C from B1;
  -- Class M-9, Downgraded to C from Caa2.


MID ATLANTIC RETAIL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Mid Atlantic Retail Group, Inc.
        8200 Midlothian Turnpike
        Richmond, VA 23235
        dba Barry Better Menswear

Bankruptcy Case No.: 07-81745

Chapter 11 Petition Date: November 30, 2007

Court: Middle District of North Carolina (Durham)

Judge: William L. Stocks

Debtor's Counsel: Terri L. Gardner, Esq.
                  Poyner & Spruill LLP
                  P.O. Box 10096
                  Raleigh, NC 27605-0096
                  Tel: (919) 783-6400
                  Fax: (919) 783-1075

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's list of its 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Lucasini                           Business Debt         $303,182
6480 Corvette Street
Commerce, CA 90040

Rosenthal & Rosenthal Inc.         Business Debt         $300,000
Stacy Adams & Navaco
Industries, Inc.
1370 Broadway
New York, NY 10018

Actex International Corp.          Business Debt         $204,000
18-45 Steinway Street
Astoria, NY 11105-1010

Peerless Clothing International    Business Debt         $176,932

Jim's Formal Wear                  Business Debt         $167,081

Opry Mills L.P.                    Business Debt         $119,256

Milberg Factors, Inc.              Business Debt         $116,702

Jimmy Sales Neckwear Corp.         Business Debt         $115,397

Riccardo Fazzi                     Business Debt         $110,880

Epicor/CRS Retail Systems          Business Debt         $109,591

National Cable Communication       Business Debt          $92,924

ABW International, Inc.            Business Debt          $81,890

St. Louis Mills L.P.               Business Debt          $81,690

Carlyle Jamestown Partner          Business Debt          $79,482

Franklin Mills Associates          Business Debt          $74,698

Sugarloaf Mills L.P.               Business Debt          $72,775

Stacy Adams Shoe Company           Business Debt          $69,682

Eddie Domani Corporation           Business Debt          $68,067

Adams Apparel Inc.                 Business Debt          $68,043

Nova Moda, Ltd.                    Business Debt          $62,460


MONITOR OIL: Bondholders Want Chapter 11 Case Dismissed
-------------------------------------------------------
Bondholders holding claims aggregating $50 million ask the Hon.
Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York to dismiss the Chapter 11 cases of Monitor
Oil, P.L.C., and its debtor-affiliates, in order for their
insolvency cases in Britain and the Cayman Islands to proceed, the
Associated press reports.

The AP reports that according to the bondholders, the Debtors have
no operations in the United States since its headquarters is
located in London while the oil drilling business in on the North
Sea.

The bondholders further add that by dismissing the U.S. case, it
would be cheaper and more efficient for Ernst & Young, the court-
appointed monitor, to oversee the cases, the AP relates.

The Court has set a hearing on December 18, 2007, to decide
whether to dismiss that Debtors' cases or not.

Monitor Oil, P.L.C. -- htpp://www.monitoroil.com/ --  an oil and
gas service company that provides oil and gas production
solutions, offshore services and engineering services.  The
company and two of its affiliates,  Monitor Single Lift 1, Ltd.,
and Monitor US FinCo, Inc., filed for Chapter 11 Protection on
Nov. 21, 2007 (Bankr. S.D.N.Y. Case No. 07-13709).  Eric Lopez
Schnabel, Esq., at Dorsey & Whitney, L.L.P., represents the
Debtor.  As of June 30, 2007, the company disclosed total assets
of 130,000,000 and total debts of $247,800,0003.3710.


MORGAN STANLEY: Moody's Lowers Ratings on Two Cert. Classes to Ba2
------------------------------------------------------------------
Moody's Investors Service has downgraded twelve classes of
certificates and has confirmed four classes of certificates from
six deals issued by Morgan Stanley ABS Capital I Inc. Trust in
2004.  The actions are based on the analysis of the credit
enhancement provided by subordination, overcollateralization and
excess spread relative to the expected loss.  The transactions are
backed by subprime, fixed and adjustable-rate mortgage loans.

Complete rating actions are:

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2004-HE1

  -- Class B-1, downgraded from Baa1 to Baa3;
  -- Class B-2, downgraded from Baa2 to Ba2;
  -- Class B-3, downgraded from Baa3 to B3;

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2004-HE2

  -- Class B-3, downgraded from Baa3 to Ba2;

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2004-HE3

  -- Class B-3, downgraded from Baa3 to B1;

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2004-HE4

  -- Class M-1, current rating Aa2, confirmed;
  -- Class M-3, downgraded from A3 to Baa1;
  -- Class B-1, downgraded from Baa1 to Ba1;
  -- Class B-2, downgraded from Baa2 to B2;
  -- Class B-3, downgraded from Baa3 to Caa1;

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2004-HE5

  -- Class. M-1, current rating Aa2, confirmed;
  -- Class B-2, downgraded from Baa2 to Ba1;
  -- Class B-3, downgraded from Baa3 to B1;

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2004-HE6

  -- Class. M-1, current rating Aa1, confirmed;
  -- Class. M-2, current rating Aa2, confirmed;
  -- Class B-3, downgraded from Baa3 to Ba3.


MORGAN STANLEY: Moody's Downgrades Ratings on 77 Tranches
---------------------------------------------------------
Moody's Investors Service has downgraded the ratings of 77
tranches and has placed under review for possible downgrade the
ratings of 20 tranches from 13 transactions issued by Morgan
Stanley in 2007.  Additionally, 4 downgraded tranches remain on
review for possible further downgrade. The collateral backing
these classes consists of primarily first lien, fixed and
adjustable-rate, subprime mortgage loans.

In its analysis, Moody's has combined its published methodology
updates as of July 13, 2007 to the non delinquent portion of the
transactions.  Collateral backing these transactions is also
experiencing higher than anticipated rates of delinquency,
foreclosure, and REO relative to credit enhancement levels.

Complete list of Rating Actions:

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2007-HE1

  -- Cl.  M-2 Currently Aa2 on review for possible downgrade,
  -- Cl.  M-3 Currently Aa3 on review for possible downgrade,
  -- Cl.  M-4, Downgraded to A3, previously A1,
  -- Cl.  M-5, Downgraded to Baa2, previously A2,
  -- Cl.  M-6, Downgraded to Ba1, previously A3,
  -- Cl.  B-1, Downgraded to B2, previously Baa1,
  -- Cl.  B-2, Downgraded to B3 on review for possible further
     downgrade, previously Baa2,
  -- Cl.  B-3, Downgraded to C, previously Baa3.

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2007-HE2

  -- Cl.  M-2 Currently Aa2 on review for possible downgrade,
  -- Cl.  M-3 Currently Aa3 on review for possible downgrade,
  -- Cl.  M-4, Downgraded to A2, previously A1,
  -- Cl.  M-5, Downgraded to Baa1, previously A2,
  -- Cl.  M-6, Downgraded to Ba1, previously A3,
  -- Cl.  B-1, Downgraded to B1, previously Baa1,
  -- Cl.  B-2, Downgraded to B3 on review for possible further
     downgrade, previously Baa2,
  -- Cl.  B-3, Downgraded to C, previously Baa3.

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2007-HE3

  -- Cl.  M-2 Currently Aa2 on review for possible downgrade,
  -- Cl.  M-3 Currently Aa3 on review for possible downgrade,
  -- Cl.  M-4, Downgraded to A2, previously A1,
  -- Cl.  M-5, Downgraded to Baa1, previously A2,
  -- Cl.  M-6, Downgraded to Baa3, previously A3,
  -- Cl.  B-1, Downgraded to Ba3, previously Baa1,
  -- Cl.  B-2, Downgraded to B3 on review for possible further
     downgrade, previously Baa2,
  -- Cl.  B-3, Downgraded to Caa2, previously Baa3.

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2007-HE4

  -- Cl.  M-1 Currently Aa1 on review for possible downgrade,
  -- Cl.  M-2 Currently Aa2 on review for possible downgrade,
  -- Cl.  M-3 Currently Aa3 on review for possible downgrade,
  -- Cl.  M-4, Downgraded to Baa2, previously A1,
  -- Cl.  M-5, Downgraded to Ba2, previously A2,
  -- Cl.  M-6, Downgraded to Caa1, previously A3,
  -- Cl.  B-1, Downgraded to Ca, previously Baa1,
  -- Cl.  B-2, Downgraded to C, previously Baa2,
  -- Cl.  B-3, Downgraded to C, previously Baa3.

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2007-HE5

  -- Cl.  M-1 Currently Aa1 on review for possible downgrade,
  -- Cl.  M-2 Currently Aa2 on review for possible downgrade,
  -- Cl.  M-3 Currently Aa3 on review for possible downgrade,
  -- Cl.  M-4, Downgraded to A3, previously A1,
  -- Cl.  M-5, Downgraded to Baa3, previously A2,
  -- Cl.  M-6, Downgraded to Ba2, previously A3,
  -- Cl.  B-1, Downgraded to B2, previously Baa1,
  -- Cl.  B-2, Downgraded to Caa2, previously Baa2,
  -- Cl.  B-3, Downgraded to C, previously Baa3.

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2007-HE6

  -- Cl.  M-1 Currently Aa1 on review for possible downgrade,
  -- Cl.  M-2 Currently Aa2 on review for possible downgrade,
  -- Cl.  M-3 Currently Aa3 on review for possible downgrade,
  -- Cl.  M-4, Downgraded to A3, previously A1,
  -- Cl.  M-5, Downgraded to Baa2, previously A2,
  -- Cl.  M-6, Downgraded to Ba2, previously A3,
  -- Cl.  B-1, Downgraded to B1, previously Baa1,
  -- Cl.  B-2, Downgraded to B2, previously Baa2,
  -- Cl.  B-3, Downgraded to Caa2, previously Baa3,
  -- Cl.  B-4, Downgraded to C, previously Ba1.

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2007-NC1

  -- Cl.  M-2 Currently Aa2 on review for possible downgrade,
  -- Cl.  M-3 Currently Aa3 on review for possible downgrade,
  -- Cl.  M-4, Downgraded to A3, previously A1,
  -- Cl.  M-5, Downgraded to Baa3, previously A2,
  -- Cl.  M-6, Downgraded to Ba2, previously A3,
  -- Cl.  B-1, Downgraded to B2, previously Baa1,
  -- Cl.  B-2, Downgraded to Caa2, previously Baa2,
  -- Cl.  B-3, Downgraded to Ca, previously Baa3,
  -- Cl.  B-4, Downgraded to C, previously Baa3.

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2007-NC2

  -- Cl.  M-3 Currently Aa3 on review for possible downgrade,
  -- Cl.  M-4, Downgraded to A2, previously A1,
  -- Cl.  M-5, Downgraded to Baa1, previously A2,
  -- Cl.  M-6, Downgraded to Baa3, previously A3,
  -- Cl.  B-1, Downgraded to Ba3, previously Baa1,
  -- Cl.  B-2, Downgraded to B2, previously Baa2,
  -- Cl.  B-3, Downgraded to Caa3, previously Baa3.

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2007-NC3

  -- Cl.  M-6, Downgraded to Baa1, previously A3,
  -- Cl.  B-1, Downgraded to Baa3, previously Baa1,
  -- Cl.  B-2, Downgraded to Ba3, previously Baa2,
  -- Cl.  B-3, Downgraded to B1, previously Baa3,
  -- Cl.  B-4, Downgraded to Caa2, previously Ba1.

Issuer: Morgan Stanley ABS Capital I Inc. Trust 2007-NC4

  -- Cl.  M-1, Downgraded to A3, previously A2,
  -- Cl.  M-2, Downgraded to Baa2, previously A3,
  -- Cl.  B-1, Downgraded to Ba1, previously Baa1,
  -- Cl.  B-2, Downgraded to Ba2, previously Baa1,
  -- Cl.  B-3, Downgraded to B3 on review for possible further
     downgrade, previously Baa3,
  -- Cl.  B-4, Downgraded to Ca, previously Ba1,
  -- Cl.  B-5, Downgraded to C, previously Ba2.

Issuer: Morgan Stanley Home Equity Loan Trust 2007-1

  -- Cl.  M-2 Currently Aa2 on review for possible downgrade,
  -- Cl.  M-3 Currently Aa3 on review for possible downgrade,
  -- Cl.  M-4, Downgraded to A2, previously A1,
  -- Cl.  M-5, Downgraded to Baa2, previously A2,
  -- Cl.  M-6, Downgraded to Ba2, previously A3,
  -- Cl.  B-1, Downgraded to B1, previously Baa1,
  -- Cl.  B-2, Downgraded to B3, previously Baa2,
  -- Cl.  B-3, Downgraded to Ca, previously Baa3.

Issuer: Morgan Stanley Home Equity Loan Trust 2007-2

  -- Cl.  M-5, Downgraded to A3, previously A2,
  -- Cl.  M-6, Downgraded to Baa3, previously A3,
  -- Cl.  B-1, Downgraded to Ba2, previously Baa1,
  -- Cl.  B-2, Downgraded to B1, previously Baa2,
  -- Cl.  B-3, Downgraded to B3, previously Baa3.

Issuer: Morgan Stanley Structured Trust I 2007-1

  -- Cl.  B-1, Downgraded to Baa2, previously Baa1,
  -- Cl.  B-2, Downgraded to Ba1, previously Baa2,
  -- Cl.  B-3, Downgraded to B1, previously Baa3,
  -- Cl.  B-4, Downgraded to B2, previously Ba1.


MULBERRY STREET: Poor Credit Quality Cues Moody's Ratings Review
----------------------------------------------------------------
Moody's Investor Services placed on review for possible downgrade
these notes issued by Mulberry Street CDO II, Ltd.:

Class Description: $30,000,000 Class A-1U Floating Rate Notes due
2038
  -- Prior Rating: Aaa
  -- Current Rating: Aaa, on review for possible downgrade

Moody's also downgraded and left on review for downgrade these
notes:

Class Description: $73,500,000 Class A-2 Floating Rate Notes Due
2038
  -- Prior Rating: Aa2
  -- Current Rating: A3, on review for possible downgrade

Class Description: $4,000,000 Class B-F Fixed Rate Notes Due 2038
  -- Prior Rating: Baa2
  -- Current Rating: Ba3, on review for possible downgrade

Class Description: $38,000,000 Class B-V Floating Rate Notes Due
2038
  -- Prior Rating: Baa2
  -- Current Rating: Ba3, on review for possible downgrade

Class Description: $7,000,000 Class C Fixed Rate Notes Due 2038
  -- Prior Rating: Ba2
  -- Current Rating: B3, on review for possible downgrade

According to Moody's, the rating actions are the result of
deterioration in the credit quality of the transaction's
underlying collateral pool, which consists primarily of structured
finance securities.


MULBERRY STREET: Moody's Junks Rating on $30MM Class B Notes
------------------------------------------------------------
Moody's Investors Service placed these notes issued by Mulberry
Street CDO, Ltd. on review for possible downgrade:

Class Description: $40,000,000 Class A-1B Notes, due December 2037
  -- Prior Rating: Aaa
  -- Current Rating: Aaa, on review for possible downgrade

In addition Moody's downgraded and left on review for possible
downgrade these notes:

Class Description: the $52,500,000 Class A-2 Notes, due December
2037
  -- Prior Rating: Aa2
  -- Current Rating: Baa3, on review for possible downgrade

Class Description: the $30,000,000 Class B Notes, due December
2037
  -- Prior Rating: Baa2
  -- Current Rating: Caa2, on review for possible downgrade

Moody's downgraded these notes:

Class Description: the $5,000,000 Class C Notes, due December 2037
  -- Prior Rating: Ba2
  -- Current Rating: Ca

According to Moody's, the rating actions are the result of
deterioration in the credit quality of the transaction's
underlying collateral pool, which consists primarily of structured
finance securities.


NASDAQ STOCK: Qatar Holding Withdraws from OMX AB Bidding Race
--------------------------------------------------------------
Qatar Holding, a subsidiary of the Qatari Investment Authority,
withdraws its application for 100% stock ownership assessment for
Nordic and Baltic exchange OMX AB, according to The Swedish
Financial Supervisory Authority, bringing the consortium of Nasdaq
Stock Market Inc. of the United States and Borse Dubai Ltd. of the
United Arab Emirates closer to reaching a buyout deal with OMX.

As reported in the Troubled Company Reporter on Sept. 28, 2007,
Borse Dubai has raised its cash offer to SEK265 for each share in
OMX.  Borse Dubai has also changed the acceptance level condition
under its offer from more than 90% to more than 50%.  The other
terms and conditions of the Borse Dubai Offer remain the same as
announced on Aug. 17, 2007, by Borse Dubai, and on Sept. 20, 2007,
by Borse Dubai and The NASDAQ Stock.

NASDAQ and Borse Dubai are joining efforts to provide a
compelling, long-term enhancement and growth strategy for OMX and
the Nordic and Baltic region.  Borse Dubai and NASDAQ have now
secured irrevocable undertakings from Investor AB (publ), Nordea
Bank AB (publ), Olof Stenhammar, Didner & Gerge Fonder AB,
Nykredit Realkredit A/S and Magnus Bocker, who in aggregate hold
approximately 18.5% of the total number of votes and shares in
OMX, at the increased price of Borse Dubai's cash offer.

The combination of Borse Dubai's shares in OMX, the option
agreements entered into on Aug. 9, 2007 and the irrevocable
undertakings entered into will result in Borse Dubai holding no
less than 57.4 million OMX shares, representing no less than 47.6%
of the total number of votes and shares in OMX.  This assumes that
the Borse Dubai Offer is completed and that the conditions to the
option agreements and the irrevocable undertakings are satisfied.
As a result of the increased offer, the strike price of the option
agreements will increase to SEK265 per OMX share.  As agreed
between Borse Dubai and NASDAQ, these OMX shares as well as shares
tendered in the Borse Dubai Offer, are expected to be sold to
NASDAQ.  The irrevocable undertakings are assignable to NASDAQ
under certain circumstances.

Headquartered in New York City, The Nasdaq Stock Market Inc.
(Nasdaq: NDAQ) -- http://www.nasdaq.com/-- is an electronic
equity securities market in the United States with about 3,200
companies.

                          *     *     *

As reported in the Troubled Company Reporter on Sept. 24, 2007,
Moody's Investors Service placed the Ba3 corporate family rating
of Nasdaq Stock Market Inc. on review for upgrade.

On Sept. 20, 2007, Standard & Poor's Rating Services assigned BB
long-term foreign and local issuer credit ratings to Nasdaq Stock
Market Inc.


NATIXIS REAL: Moody's Lowers Ratings on Seven Tranches
------------------------------------------------------
Moody's Investors Service has downgraded the ratings of 7 tranches
and has placed under review for possible downgrade the ratings of
3 tranches from Natixis Real Estate Capital Trust 2007-HE2.  The
collateral backing these classes consists of primarily first lien,
fixed and adjustable-rate, subprime mortgage loans.

In its analysis, Moody's has combined its published methodology
updates as of July 13, 2007 to the non delinquent portion of the
transactions.  Collateral backing these transactions is also
experiencing higher than anticipated rates of delinquency,
foreclosure, and REO relative to credit enhancement levels.

Complete list of Rating Actions:

Issuer: Natixis Real Estate Capital Trust 2007-HE2

  -- M-1 Currently Aa1 on review for possible downgrade,
  -- M-2 Currently Aa2 on review for possible downgrade,
  -- M-3 Currently Aa3 on review for possible downgrade,
  -- M-4, Downgraded to Baa1, previously A1,
  -- M-5, Downgraded to Ba1, previously A2,
  -- M-6, Downgraded to B1, previously A3,
  -- B-1, Downgraded to Caa2, previously Baa1,
  -- B-2, Downgraded to C, previously Baa2,
  -- B-3, Downgraded to C, previously Baa3,
  -- B-4, Downgraded to C, previously Ba1.


NEW CENTURY: Asks Court to Extend Exclusivity Period to Dec. 28
---------------------------------------------------------------
New Century Financial Corp. and its debtor-affiliates ask the
United States Bankruptcy Court for the District of Delaware to
extend the period during which they have the exclusive right to:

   (i) file a Chapter 11 plan, by approximately 30 days, through
       and including Dec. 28, 2007; and

  (ii) solicit acceptances of that plan through and including
       Feb. 27, 2008, or approximately 60 days after
       expiration of the exclusive filing period.

Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A.,
in Wilmington, Del. relates that the Debtors' focus on a number of
issues, as well as addressing numerous other matters attendant to
their Chapter 11 cases, have made it impossible to formulate,
promulgate and building consensus regarding a Chapter 11 plan any
earlier than the extended dates proposed by the Debtors.  Among
other things, the Debtors have dedicated substantial resources to
cooperating in government investigations and with the Court-
approved examiner.

The Debtors tell the Court that they still have to finalize the
the terms of the plan, but they believe that it can be filed
within the requested extension of the exclusive filing period.

According to the Debtors, they do not want to file the plan
prematurely, especially when they have almost completed one that
will be supported by the Official Committee of Unsecured
Creditors and other key constituencies.

The Court will convene a hearing on Dec. 20, 2007, at 1:30 p.m.,
to consider the Debtor's request.  Pursuant to Del.Bankr.LR
9006-2, the exclusive plan filing period is automatically
extended until the conclusion of that hearing.

Founded in 1995, Irvine, Calif.-based New Century Financial
Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a real
estate investment trust, providing mortgage products to borrowers
nationwide through its operating subsidiaries, New Century
Mortgage Corporation and Home123 Corporation.  The company offers
a broad range of mortgage products designed to meet the needs of
all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  The
Official Committee of Unsecured Creditors selected Hahn & Hessen
as its bankruptcy counsel and Blank Rome LLP as its co-counsel.
When the Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.

The Debtors' exclusive period to file a plan expires on Dec. 20,
2007.  (New Century Bankruptcy News, Issue No. 27; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


NEW CENTURY: Asks Court to Maintain 1st Examiner Report Under Seal
------------------------------------------------------------------
New Century Financial Corporation and its debtor-affiliates ask
the United States Bankruptcy Court for the District of Delaware to
direct the Bankruptcy Clerk to maintain under seal the first
interim report of Michael J. Missal, Court-appointed examiner,
filed on Nov. 21, 2007.

Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A.,
in Wilmington, Del., states that the Cash Collateral Report
contains information subject to attorney-client and attorney work
product privileges.

Mr. Samis tells the Court that since the examiner's appointment
and the initiation of its investigation, the NCFC Board of
Directors have consistently instructed the company and its
professionals to cooperate fully with the examiner.  The Debtors
have ensured that they are not producing privileged documents
that could jeopardize the estates claims and defenses, in
connection with certain key disputes.

However, Mr. Samis discloses that with respect to other topics,
the Debtors have produced privileged documents and information to
the examiner, in reliance on the provisions of the Examiner Order
on keeping under seal any portion that discloses the privileged
information.

Mr. Samis explains that in the course of the examiner's
investigation, the Debtors decided that it was necessary to
disclose the attorney-client privileged information to the
examiner, regarding certain master repurchase agreement
counterparties and the Debtors' prepetition use of cash
collateral.

According to Mr. Samis, when the Examiner completed and filed the
Cash Collateral Report on November 21, it detailed a meeting with
the Debtors and explained its understanding of the Debtors' legal
position with respect to the MRAs, and reported that the Debtors
advised that it was wrong.

Mr. Samis says that while the examiner does not quote the
privileged information, it follows that it must be the opposite
of the examiner's prior incorrect understanding, detailed in the
report.  The privileged information pertains to one of the
central and pending legal disputes in the Debtors' case.  It is
also inexorably intertwined with all of the substantive portions
of the Cash Collateral Report.

The Debtors strongly disagree with a large portion of the Cash
Collateral Report.  Accordingly, they feel compelled to file a
substantive response which will also be filed under seal, since
it will center on privileged legal advice and analysis.

As reported in the Troubled Company Reporter on Oct. 24, 2007,
any report filed by the examiner will be filed initially under
seal, with copies to the Debtors, the Official Committee of
Unsecured Creditors, and the Office of the United States Trustee.
The Creditors Committee and the U.S. Trustee will maintain and
protect the report's status as under seal, and will not disclose
any information contained in the report.  The examiner's
provision of the report to the Court, the Creditors Committee,
and the U.S. Trustee does not constitute a waiver of the Debtors'
privileges or protection with respect to the information.

Founded in 1995, Irvine, Calif.-based New Century Financial
Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a real
estate investment trust, providing mortgage products to borrowers
nationwide through its operating subsidiaries, New Century
Mortgage Corporation and Home123 Corporation.  The company offers
a broad range of mortgage products designed to meet the needs of
all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  The
Official Committee of Unsecured Creditors selected Hahn & Hessen
as its bankruptcy counsel and Blank Rome LLP as its co-counsel.
When the Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.

The Debtors' exclusive period to file a plan expires on Dec. 20,
2007.  (New Century Bankruptcy News, Issue No. 27; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


NEW CENTURY: IRS Opposes Debtors' Motion for Automatic Stay
-----------------------------------------------------------
The U.S. Internal Revenue Service tells the United States
Bankruptcy Court for the District of Delaware that it opposes the
request of New Century TRS Holdings Inc., New Century Financial
Corp., and their direct and indirect subsidiaries, to enforce the
automatic stay against their agency.

As reported in the Troubled Company Reporter on Nov. 22, 2007, the
aforementioned Debtors told the Court that withholding the tax
refund is a violation of Section 362(a)(3) of the Bankruptcy Code,
which prohibits a non-debtor from exercising control over property
of a debtor's estate.  Debtors added that the IRS has not
established an assessed liability or a pending action over the
Debtors' outstanding tax liability, hence, it could not set off
against any pending refunds.  Accordingly, the Debtors asked the
Court to direct the release of the tax refund without further
delay.

Jan M. Geht, the trial attorney at the Tax Division of the U.S.
Department of Justice, states that the IRS has not yet determined
whether the Debtors are entitled to a tax refund.  Additionally,
in the event that the Court rules that the deadline has passed,
it does not have any jurisdiction to order any relief for the
IRS' failure to act.

Mr. Geht notes that Section 6411 of the Tax Code states that the
Commissioner will act within 90 days from the later of:

   (1) the date the application is filed; or

   (2) the last day of the month in which falls the last date for
       filing the return for the year of the net operating loss.

According to Mr. Geht, the Debtors obtained an extension until
September 15, to file the application, thus the IRS has until
December 31 to act on the application for a tax refund.  Since
the IRS has not wrongfully withheld the tax refund, it has not
violated the automatic stay.

Mr. Geht argues that pursuant to Section 6411(b) of the Tax Code,
the Court cannot review the IRS' decision to disallow a claim for
refund.  Moreover, Section 6411 does not set forth consequences
for failure to act within the 90-day period.  Accordingly, the
IRS, he says, did not violate the automatic stay by failing to
act on the Debtors' request.

Mr. Geht states that the Debtors' only recourse is to file a
formal claim for refund; the Court will then have jurisdiction,
under Section 505 of the Bankruptcy Code, to determine whether
the refund was wrongfully held.

Founded in 1995, Irvine, Calif.-based New Century Financial
Corporation (NYSE: NEW) -- http://www.ncen.com/-- is a real
estate investment trust, providing mortgage products to borrowers
nationwide through its operating subsidiaries, New Century
Mortgage Corporation and Home123 Corporation.  The company offers
a broad range of mortgage products designed to meet the needs of
all borrowers.

The company and its debtor-affiliates filed for Chapter 11
protection on April 2, 2007 (Bankr. D. Del. Lead Case No.
07-10416).  Suzzanne Uhland, Esq., Austin K. Barron, Esq., and Ana
Acevedo, Esq., at O'Melveny & Myers LLP, and Mark D. Collins,
Esq., Michael J. Merchant, Esq., and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A., represent the Debtors.  The
Official Committee of Unsecured Creditors selected Hahn & Hessen
as its bankruptcy counsel and Blank Rome LLP as its co-counsel.
When the Debtors filed for bankruptcy, they listed total assets of
$36,276,815 and total debts of $102,503,950.

The Debtors' exclusive period to file a plan expires on Dec. 20,
2007.  (New Century Bankruptcy News, Issue No. 27; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


NOMURA HOME: Moody's Cuts Ratings on Two Classes to B1
------------------------------------------------------
Moody's Investors Service has downgraded the ratings of 11
tranches issued by Nomura in 2007.  The collateral backing these
classes consists of primarily first lien, fixed and adjustable-
rate, subprime mortgage loans.

In its analysis, Moody's has combined its published methodology
updates as of July 13, 2007 to the non delinquent portion of the
transactions.  Collateral backing these transactions is also
experiencing higher than anticipated rates of delinquency,
foreclosure, and REO relative to credit enhancement levels.

Complete list of Rating Actions:

Issuer: Nomura Home Equity Loan, Inc. Home Equity Loan Trust,
Series 2007-2

  -- Cl.  M-5, Downgraded to A3, previously A2,
  -- Cl.  M-6, Downgraded to Baa1, previously A3,
  -- Cl.  M-7, Downgraded to Ba1, previously Baa1,
  -- Cl.  M-8, Downgraded to Ba3, previously Baa2,
  -- Cl.  M-9, Downgraded to B1, previously Baa3,
  -- Cl.  B-1, Downgraded to Caa1, previously Ba1.

Issuer: Nomura Home Equity Loan, Inc., Home Equity Loan Trust,
Series 2007-3

  -- Cl.  M-5, Downgraded to A3, previously A2,
  -- Cl.  M-6, Downgraded to Baa3, previously A3,
  -- Cl.  M-7, Downgraded to Ba3, previously Baa1,
  -- Cl.  M-8, Downgraded to B1, previously Baa2,
  -- Cl.  M-9, Downgraded to Caa2, previously Baa3.


NOVASTAR FINANCIAL: Wachovia Waiver to Expire Tomorrow
------------------------------------------------------
NovaStar Financial Inc. disclosed Wednesday in a regulatory filing
with the U.S. Securities and Exchange Commission, that on
Nov. 30, 2007, along with certain of its affiliates, it entered
into a Master Repurchase Agreements Waiver with Wachovia Bank,
N.A. and certain of its affiliates.

Pursuant to the Master Repurchase Agreements, Wachovia agreed not
to enforce, for a period ending on Dec. 7, 2007, the adjusted
tangible net worth requirement under the agreements, and waived,
for the same period, any breach and/or event of default that would
have resulted under the agreements solely as a result of the
company's failure to maintain the required adjusted tangible net
worth.

Wachovia expressly reserved the right to terminate the Waiver
Agreement prior to Dec. 7, 2007, if any event of default or breach
occurs under the agreements other than solely as a result of the
company's failure to maintain the required adjusted tangible net
worth.

The agreements affected by this Waiver Agreement are:

    1. Master Repurchase Agreement (2007 Residual Securities)
       dated as of April 18, 2007, among Wachovia Investment
       Holdings, LLC, Wachovia Capital Markets, LLC, NovaStar
       Mortgage, Inc., NovaStar Certificates Financing LLC, and
       NovaStar Certificates Financing Corp.

    2. Master Repurchase Agreement (2007 Whole Loan) dated as of
       May 9, 2007, among Wachovia Bank, National Association, NFI
       Repurchase Corporation, NMI Repurchase Corporation, NMI
       Property Financing, Inc., HomeView Lending, Inc., NovaStar
       Financial Inc., NFI Holding Corporation and NovaStar
       Mortgage, Inc.

    3. Master Repurchase Agreement (2007 Non-investment Grade)
       dated as of May 31, 2007, among Wachovia Investment
       Holdings, LLC, Wachovia Capital Markets, LLC, NovaStar
       Mortgage, Inc., NovaStar Certificates Financing LLC, and
       NovaStar Certificates Financing Corp.

    4. Master Repurchase Agreement (2007 Investment Grade) dated
       as of May 31, 2007, among Wachovia Bank, N. A., Wachovia
       Capital Markets, LLC, NovaStar Mortgage, Inc., NovaStar
       Certificates Financing LLC, and NovaStar Certificates
       Financing Corp.

    5. Master Repurchase Agreement (New York) dated as of July 6,
       2007, between Wachovia Bank, National Association and
       NovaStar Mortgage, Inc.

In addition to the financing agreements listed, Wachovia also
routinely engages in other ordinary course financial transactions
with the company, including but not limited to financial
derivative transactions, and has acted as an underwriter for
certain securitizations sponsored by the company.

A full-text copy of the Waiver Agreement may be viewed at no
charge at http://ResearchArchives.com/t/s?2611

                         About NovaStar

Headquartered in Kansas City, Missouri, NovaStar Financial Inc.
(NYSE: NFI) -- http://www.novastarmortgage.com/-- is a specialty
finance company that originates, purchases, securitizes, sells and
invests in loans and mortgage-backed securities.  The company also
services a large portfolio of residential loans.

NovaStar Financial's balance sheet as of Sept. 30, 2007, showed
total assets of $4.54 billion, total liabilities of $4.62 billion,
resulting in total stockholders' deficit of $80.7 million.


NOVASTAR FINANCIAL: NYSE Wants Explanation on Stock Price Jump
--------------------------------------------------------------
NovaStar Financial Inc. has been asked by the New York Stock
Exchange to justify why its stock price went up by 69% on Monday,
various reports say.

According to the reports, the company's stock closed at $3.33
Monday from $1.97.  The unusual movement comes just days after a
waiver set by Wachovia Bank, N.A., expired on Nov. 30, 2007.  That
wavier has been extended and is set to expire tomorrow.

The company's stock closed at $2.08 on Tuesday and $2.48 on
Wednesday.

Headquartered in Kansas City, Missouri, NovaStar Financial Inc.
(NYSE: NFI) -- http://www.novastarmortgage.com/-- is a specialty
finance company that originates, purchases, securitizes, sells and
invests in loans and mortgage-backed securities.  The company also
services a large portfolio of residential loans.

NovaStar Financial's balance sheet as of Sept. 30, 2007, showed
total assets of $4.54 billion, total liabilities of $4.62 billion,
resulting in total stockholders' deficit of $80.7 million.


NOVASTAR MORTGAGE: Moody's Cuts Rating on Cl. M-8 to B1 from Baa2
-----------------------------------------------------------------
Moody's Investors Service has downgraded the ratings of 8 tranches
from NovaStar Mortgage Funding Trust 2007-1.  The collateral
backing these classes consists of primarily first lien, fixed and
adjustable-rate, subprime mortgage loans.

In its analysis, Moody's has combined its published methodology
updates as of July 13th, 2007 to the non delinquent portion of the
transactions.  Collateral backing these transactions is also
experiencing higher than anticipated rates of delinquency,
foreclosure, and REO relative to credit enhancement levels.

Complete list of Rating Actions:

Issuer: NovaStar Mortgage Funding Trust 2007-1

  -- Cl.  M-4, Downgraded to A2, previously A1,
  -- Cl.  M-5, Downgraded to A3, previously A2,
  -- Cl.  M-6, Downgraded to Baa2, previously A3,
  -- Cl.  M-7, Downgraded to Ba2, previously Baa1,
  -- Cl.  M-8, Downgraded to B1, previously Baa2,
  -- Cl.  M-9, Downgraded to Caa2, previously Baa3,
  -- Cl.  M-10, Downgraded to Ca, previously Ba1,
  -- Cl.  M-11, Downgraded to C, previously Ba2.


NUTRITIONAL SOURCING: Exclusive Plan Filing Date Moved to Mar. 3
----------------------------------------------------------------
The United States Bankruptcy Court for the District of Delaware
further extended Nutritional Sourcing Corp.'s exclusive period
to file a chapter 11 plan until March 3, 2008, Bill Rochelle of
Bloomberg News reports.

Within that period, other parties are barred from filing any plan.

In September 2007, the Debtor obtained Court authority to sell
22 stores and a distribution center to PS Acquisition Inc. for
$139 million.

PS Acquisition's bid surpassed Supermercados Econo Inc.'s
$137 million offer.

Under the approved asset purchase agreement, PS Acquisition will
purchase 21 stores for $92 million.  PS Acquisition's designee
will purchase the remaining store and distribution center for
$47 million.

Auction sale on the properties was held on Sept. 19, 2007, at the
offices of Pepper Hamilton LLP, Suite 5100, Hercules Plaza, 1313
Market Street, in Wilmington, Delaware.

Based in Pompano, Florida, Nutritional Sourcing Corp., fdba Pueblo
Xtra International, Inc. -- http://www.puebloxtra.com/-- owns and
operates supermarkets and video rental shops in Puerto Rico and
the US Virgin Islands.  The company and two affiliates, Pueblo
International, L.L.C., and F.L.B.N., L.L.C., filed for chapter 11
protection on Aug. 3, 2007 (Bankr. D. Del. Case Nos. 07-11038
through 07-11040).  Kay Scholer LLC represents the Debtors in
their restructuring efforts.  Pepper Hamilton LLP serves as their
Delaware counsel.  Skadden, Arps, Slate, Meagher & Flom LLP
represent the Official Committee of Unsecured Creditors.  When the
Debtors filed for protection from their creditors, they listed
estimated assets and debts between $1 million and $100 million.


OKWARA PROPERTIES: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Lead Debtor: Okwara Properties, LLC
             P.O. Box 1296
             Monroe, NC 28111

Bankruptcy Case No.: 07-32376

Chapter 11 Petition Date: December 4, 2007

Court: Western District of North Carolina (Charlotte)

Judge: George R. Hodges

Debtor's Counsel: James H. Henderson
                  James H. Henderson, P.C.
                  1201 Harding Place
                  Charlotte, NC 28204-2248
                  Tel: (704) 333-3444
                  Fax: (7040 333-5003
                  http://title11.com/

Estimated Assets: $50,000

Estimated Debts: $1 million to $10 million

The Debtor did not file a list of its largest unsecured creditors.


ORLANDO CITYPLACE: Asset Sale Hearing Scheduled on December 20
--------------------------------------------------------------
The sale of Orlando CityPlace LLC and its debtor-affiliates'
228 unit condominium conversion in Orlando, Florida is subject
to approval by the U.S. Bankruptcy Court for the Middle District
of Florida at a hearing set for Dec. 20, 2007, Bill Rochelle of
Bloomberg News reports.

The Debtors earlier sought additional time to sell the property,
known as The Lexington Hotel, to allow the highest bidders
to complete their due diligence report and for other interested
parties to make bids.

According to Jerry W. Jackson of the Orlando Sentinel, the
Debtors previously set the minimum bid at $30 million,
but finally settled for "firm" bids after no purchaser made a
bid equal or more than the required amount.

Based in Orlando, Florida, Orlando CityPlace LLC and its
affiliates -- http://www.lexingtonorlando.com/-- develop real
estate property.  The Debtors own the Lexington Hotel and District
Five Restaurant on Orlando.

The company and its affiliates filed for Chapter 11 protection on
July 23, 2007 (Bankr. M.D. Fla. Lead Case No. 07-03159).  Jimmy D.
Parrish, Esq., Mariane L. Dorris, Esq., and R. Scott Shuker, Esq.,
at Latham, Shuker, Eden & Beaudine, LLP, represent the Debtors in
their restructuring efforts.  When the Debtors filed for
protection from their creditors, Orlando CityPlace, LLC listed
total assets of $55,000,000, and total debts of $44,000,000, while
O.C.P. Corner, LLC listed total assets of $2,000,000 and total
debts of $1,700,000.  Orlando CityPlace II, LLC listed total
assets and debts of $1 million to $100 million.


OWNIT MORTGAGE: Moody's Junks Ratings on Four Certificate Classes
-----------------------------------------------------------------
Moody's Investors Service has downgraded 8 certificates from Ownit
Mortgage Trust 2006-OT1.  The transaction is backed by second lien
loans.  The certificates were downgraded because the bonds' credit
enhancement levels, including excess spread and subordination,
were too low compared to the current projected loss numbers at the
previous rating levels.

Substantial pool losses over the last few months have continued to
erode credit enhancement available to the mezzanine certificates.
Despite the large amount of write-offs due to losses, the
delinquency pipeline has remained high as borrowers continue to
default.  The actions reflect Moody's expectation that the
significant delinquency pipeline will have a further negative
impact on the credit support for the mezzanine certificates.

Complete rating actions are:

Issuer: Ownit Mortgage Trust 2006-OT1

  -- Class M-1, Downgraded to Baa2 from A2;
  -- Class M-2, Downgraded to Ba2 from Baa1;
  -- Class M-3, Downgraded to Ba3 from Baa2;
  -- Class B-1, Downgraded to B2 from Baa3;
  -- Class B-2, Downgraded to Caa2 from Ba1;
  -- Class B-3, Downgraded to Ca from Ba2;
  -- Class B-4, Downgraded to C from B1;
  -- Class B-5, Downgraded to C from Ca.


PACIFIC HOTEL: Case Summary & 19 Largest Unsecured Creditors
------------------------------------------------------------
Debtors: Pacific Hotel Group LLC
         Dennis J. Doran
         110 Columbia Street
         Vancouver, WA 98660

Bankruptcy Case No.: 07-44180

Type of Business: The Debtor is a hotel.

Chapter 11 Petition Date: December 3, 2007

Court: Western District of Washington (Tacoma)

Judge: Paul B Snyder

Debtors' Counsel: Jeffrey B Wells, Esq.
                  Attorney at Law
                  500 Union Street Suite 927
                  Seattle, WA 98101-2332
                  Tel: (206) 624-0088

Estimated Assets: $1 Million to $10 Million

Estimated Debts:  $1 Million to $10 Million

Debtor's list of its 19 Largest Unsecured Creditors:

   Entity                        Nature of Claim   Claim Amount
   ------                        ---------------   ------------
Bexar County                     Business debt          $49,655
P.O. Box 839950
San Antonio, TX 78283

City of Balcones Heights         Business debt          $42,091
3300 Hillcrest
Balcones Heights, TX 78201

Comptroller of Public Account    Debt Owed to           $33,000
111 East 17th Street              Government Identity
Austin, TX 78774

Howard Johnson International     Business debt          $20,751

Van Ru Credit Corporation        Business debt          $18,310

Internal Revenue Service         Taxes                  $14,120
Centralized Insolvency Operations

Hawley Troxell Ennis & Hawley    Business debt           $7,444

Allure Hospitality               Business debt           $6,706

Pacific Hotel Group              Business debt           $6,176

CPS Energy                       Business debt           $5,937

Allied Insurance                                         $5,432

Eschelon Telecom, Inc            Business debt           $5,161

Baymont Ranchise Systems         Business debt           $4,355

City of San Antonio              Business debt           $3,313

ABC Pest And Lawn Services       Business debt           $2,664

Plant Interscapes                Business debt           $2,215

San Antonio Water Systems        Business debt           $2,052

Russell & Associates             Business debt           $2,000

Performance Food Group           Business debt           $1,961


PATMAN DRILLING: Given Interim OK to Employ Pronske as Counsel
--------------------------------------------------------------
Patman Drilling International Inc. obtained interim authority from
the U.S. Bankruptcy Court for the Northern District of Texas to
employ Pronske & Patel, P.C. as its bankruptcy counsel.

Pronske & Patel is expected to:

   a) provide legal advice with respect to Debtor's powers and
      duties as debtor-in-possession in the continued operation of
      its business and the management of its property;

   b) take all necessary action to protect and preserve the
      Debtor's estate, including the prosecution of actions on
      behalf of the Debtor, the defense of any actions commenced
      against the Debtor, negotiations concerning litigation in
      which the Debtor is involved, and objections to claims filed
      against the Debtor's estate;

   c) prepare on behalf of the Debtor all necessary motions,
      answers, orders, reports, and other legal papers in
      connection with the administration of its estate;

   d) assist the Debtor in preparing for and filing one or more
      disclosure statements;

   e) assist the Debtor in preparing for and filing one or more
      plans of reorganization at the earliest possible date;

   f) perform any and all other legal services for the Debtor in
      connection with the Chapter 11 case; and

   g) perform such legal services as the Debtor may request with
      respect to any matter including corporate finance and
      governance, contracts, antitrust, labor, and tax.

Gerrit M. Pronske, Esq., a shareholder at Pronske & Patel, told
the Court that the firm's professionals bill:

      Designation                            Hourly Rate
      -----------                            -----------
      Gerrit M. Pronske, Esq.                   $500
      Rakhee V. Patel, Esq.                     $300
      Christina W. Stephenson, Esq.             $160

      Partners                               $300 - $500
      Associates                                $160
      Legal Assistants                          $130

Mr. Pronske assured the Court that the firm is disinterested as
that term is defined in Section 101(14) of the U.S. Bankruptcy
Code.

Mr. Pronske can be contacted at:

      Gerrit M. Pronske, Esq.
      Pronske & Patel, P.C.
      1700 Pacific Avenue, Suite 2260
      Dallas, Texas 75201
      Tel: (214) 658-6500
      Fax: (214) 658-6509
      http://www.pronskepatel.com/

                      About Patman Drilling

Based in Rio Vista, Texas, Patman Drilling International Inc.,
formerly Patman Brothers Drilling LP and M.P.P.P. Acquisition
Corporation, owns and operates oil drilling rigs.  The Debtor
filed for chapter 11 bankruptcy protection on Sept. 25, 2007
(Bankr N.D. Tex. Case No. 07-34622).  Gerrit M. Pronske, Esq.,
Rakhee V. Patel, Esq., and Christina W. Stephenson, Esq., at
Pronske & Patel P.C., represent the Debtor in its restructuring
efforts.  The Debtor's schedules reflect $58,682,049 in total
assets, and $36,569,061 in total liabilities.


PATMAN DRILLING: Committee Wants to Hire Cox Smith as Counsel
-------------------------------------------------------------
The Official Committee of Unsecured Creditors in Patman Drilling
International Inc.'s Chapter 11 case asks permission from the U.S.
Bankruptcy Court for the Northern District of Texas to retain Cox
Smith Matthews Inc. as its counsel.

Documents submitted to the Court did not specify the firm's
services as the Committee's counsel.

Mark E. Andrews, Esq., a shareholder at Cox Smith, tells the Court
that the firm's professionals bill:

      Professionals                         Hourly Rate
      -------------                         -----------
      Mark E. Andrews, Esq.                     $450
      Thomas Rice, Esq.                         $310
      Zachary Z. Annable, Esq.                  $235
      M. Jermaine Watson, Esq.                  $220

Mr. Andrews assures the Court that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the U.S.
Bankruptcy Code.

Mr. Andrews can be contacted at:

      Mark E. Andrews, Esq.
      Cox Smith Matthews Inc.
      112 East Pecan Street, Suite 1800
      San Antonio, TX, 78205
      Tel: (210) 554-5500
      Fax: (210) 226-8395
      http://www.coxsmith.com/

                     About Patman Drilling

Based in Rio Vista, Texas, Patman Drilling International Inc.,
formerly Patman Brothers Drilling LP and M.P.P.P. Acquisition
Corporation, owns and operates oil drilling rigs.  The Debtor
filed for chapter 11 bankruptcy protection on Sept. 25, 2007
(Bankr N.D. Tex. Case No. 07-34622).  Gerrit M. Pronske, Esq.,
Rakhee V. Patel, Esq., and Christina W. Stephenson, Esq., at
Pronske & Patel P.C., represent the Debtor in its restructuring
efforts.  Mark E. Andrews, Esq. and Thomas Rice, Esq., at Cox
Smith Matthews Inc., represent the Official Committee of Unsecured
Creditors in the Debtor's bankruptcy case.

The Debtor's schedules reflect $58,682,049 in total assets, and
$36,569,061 in total liabilities.


PAUL DUKE: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtors: Paul Douglas Duke
         Robin Rae Duke
         710 North Dry Run Road
         Williamstown, WV 26187

Bankruptcy Case No.: 07-40242

Chapter 11 Petition Date: November 30, 2007

Court: Southern District of West Virginia (Parkersburg)

Judge: Ronald G. Pearson

Debtors' Counsel: Hoyer, Hoyer & Smith, PLLC
                  Christopher S. Smith, Esq.
                  Elizabeth G Kavitz, Esq.
                  22 Capitol Street
                  Charleston, WV 25301
                  Tel: (304) 344-9821
                  Fax: (304) 344-9519

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

The Debtors did not file a list of their 20 largest unsecured
creditors.


QUEBECOR MEDIA: Issues Statement Regarding Spectrum Auction
-----------------------------------------------------------
In light of media reports and questions from some Members of
Parliament, Quebecor Media Inc. issues this statement:

"Quebecor Media Inc. and its subsidiary, Videotron Ltd., fully
respected the integrity of the public consultation process
concerning the establishment of rules to be applied to the
auction of spectrum for mobile wireless services.  All
representations made to various government authorities were
conducted by persons who were duly registered as lobbyists."

"In addition, Quebecor Media Inc. confirms that its President
and Chief Executive Officer, Mr. Pierre Karl Peladeau, met on
two occasions with the Hon. Maxime Bernier when he was Minister
of Industry to discuss different issues including the company's
perspective on the wireless file, specifically that it is in the
interest of Canadian consumers to have greater competition in
this area.  The meetings were organized by company
representatives who were duly recorded in the Lobby Registry, as
were Mr. Peladeau and individuals who accompanied him to these
meetings.  The two meetings took place in the winter and the
summer of 2006."

"Mr. Peladeau and other senior officials of the company and its
subsidiaries also met with other members of the Cabinet, of the
public service as well as MPs including members from opposition
parties.  All individuals involved in the organization of these
meetings and in the meetings themselves acted in accordance with
the applicable legislation."

"Quebecor Media Inc. is pleased with the decision announced
earlier this week by the Minister of Industry, the Hon. Jim
Prentice, that allows new competitors to enter the wireless
market since this decision is clearly in the interest of all
Canadian consumers."

Headquartered in Montreal, Canada, Quebecor Media Inc., a
subsidiary of Mortsel, Belgium-based, Quebecor Inc. --
http://www.quebecor.com/-- owns operating companies in numerous
media-related businesses: Videotron Ltd., a cable operator in
Quebec and a major Internet Service Provider and provider of
telephone and business telecommunications services; Sun Media
Corporation, Canada's chain of tabloids and community newspapers;
TVA Group Inc., operator of French-language general-interest
television network in Quebec, a number of specialty channels, and
the English-language general-interest station Sun TV; Canoe Inc.,
operator of a network of English-and French-language Internet
properties in Canada; Nurun Inc., a major interactive technologies
and communications agency with offices in Canada, the United
States, Europe and Asia; companies engaged in book publishing and
magazine publishing; and companies engaged in the production,
distribution and retailing of cultural products, namely
Archambault Group Inc., chain of music stores in eastern Canada,
TVA Films, and Le SuperClub Videotron ltee, a chain of video and
video game rental and retail stores.  The company has global
facilities in India, France and Argentina.

                          *     *     *

As reported in the Troubled Company Reporter on Oct. 1, 2007,
Moody's Investors Service rated Quebecor Media Inc.'s $700 million
add-on senior unsecured note issue B2.  Ratings on the underlying
7.75% senior unsecured notes due in March of 2016 were affirmed at
the same B2 level.  At the same time, QMI's Ba3 corporate family
rating and stable ratings outlook were affirmed.


RAVELSTON CORP: Fined $7MM for Fraud; Must Pay $6MM in Restitution
------------------------------------------------------------------
The Honorable Amy J. St. Eve of the U.S. District Court for the
Northern District of Illinois fined Ravelston Corp. $7 million and
ordered the company to pay $6 million to Sun-Times Media Group
Inc., in restitution for its role in shareholder fraud, the
Associated Press reports.

Robert Kofman of RSM Richter Inc., Ravelston's receiver, told AP
that Ravelston had already paid $32 million in losses to Sun-Times
Media, formerly known as Hollinger International.  Mr. Kofman
figured around $60 million in payment for Ravelston to get through
the secured debt.  "The prospect of any money being paid on the
fine or the restitution order I would say is highly remote," Mr.
Kofman was cited by AP as saying.

Conrad Black, who no longer owns Ravelston, will be sentenced on
Dec. 10, 2007 for fraud and money-laundering, along with former
Hollinger chief financial officer Jack Boultbee, counsel Peter Y.
Atkinson, and former Hollinger corporate secretary Mark Kipnis.

                       About Hollinger Inc.

Based in Toronto, Ontario, Hollinger Inc. (TSX: HLG.C)(TSX:
HLG.PR.B) -- http://www.hollingerinc.com/-- owns approximately
70.1% voting and 19.7% equity interest in Sun-Times Media Group
Inc. (formerly Hollinger International Inc.), a newspaper
publisher with assets, which include the Chicago Sun-Times and a
large number of community newspapers in the Chicago area.
Hollinger also owns a portfolio of commercial real estate in
Canada.

                          About Ravelston

Ravelston Corp. is a privately-held Canadian corporation and
beneficially owns approximately 78% of Hollinger, Inc.'s stock.
Ravelston is the controlling shareholder of Hollinger, Inc.
Ravelston is owned and controlled by Conrad Black and David
Radler.  Mr. Black, through the Conrad Black Capital Corporation,
indirectly owns 65.1% of Ravelston.  Mr. Radler, through F.D.
Radler, Limited, indirectly owns 14.2% of Ravelston.  Mr. Black is
the Chairman and CEO of Ravelston while Mr. Radler is the
President.

In April 2005, the Ontario Superior Court of Justice appointed RSM
Richter Inc. as receiver of all of Ravelston Corp. and Ravelston
Management Inc.'s assets.


RAYMOND MIRELEZ: Case Summary & Five Largest Unsecured Creditors
----------------------------------------------------------------
Lead Debtor: Raymond Mirelez
             10415 Ethan Allen
             San Antonio, TX 78230

Bankruptcy Case No.: 07-53231

Chapter 11 Petition Date: December 4, 2007

Court: Western District of Texas (San Antonio)

Debtor's Counsel: Charles R. Bomba, Esq.
                  11230 West Avenue, Ste. 3201
                  San Antonio, TX 78213
                  Tel: (210) 366-2317
                  Fax: (210) 366-1762

Estimated Assets: $500,000 to $1 million

Estimated Debts: $1 million to $10 million

Debtor's Five Largest Unsecured Creditors:

   Entity                      Nature of Claim       Claim Amount
   ------                      ---------------       ------------
Helen Schwartz, Ch. 7 Trustee  collecting for -Bk.      $800,000
c/o Elliott S. Cappuccio       estate, Robt. Kunz
2161 NW Military Hwy Ste. 400
San Antonio, TX 78213

Wells Fargo                    note                      $89,600
PO Box 659700
San Antonio, Texas 78286

Sterling Bank                  value of lease:           $21,400
615 NW Loop 410, Suite 100     $19,000
San Antonio, Texas 78216

Caroline Mirelez               repairs                    $7,825

Charles R. Bomba, Esq.         attorney fees                  $0


REDDY ICE: Board Appoints William P. Brick as CEO and President
---------------------------------------------------------------
Reddy Ice Holdings Inc.'s board has appointed William P. Brick,
the company's executive chairman, to serve as chairman, chief
executive officer and president, effective Dec. 1, 2007.

Jimmy C. Weaver has resigned as Reddy Ice Holdings Inc.'s chief
executive officer and president, and a member of the company's
board of directors, due to medical reasons.

Mr. Brick served as chief executive officer of the company from
april 2001 until Mr. Weaver assumed the role on May 17, 2007.  The
company's board has not yet appointed a successor to
Mr. Weaver's board seat.

"Jim Weaver has been an integral part of Reddy Ice's growth and
success for more than a decade," Mr. Brick said.  "All of us at
the Company thank him for his long service and dedication, and
wish him well."

"I am proud of the accomplishments Reddy Ice has achieved during
my tenure, and I have every confidence in the company's future
success," Mr. Weaver remarked.  "I wish Bill, the management team,
and the entire staff the best."

                         About Reddy Ice

Headquartered in Dallas, Texas, Reddy Ice Holdings Inc. (NYSE:
FRZ) -- http://www.reddyice.com/-- is a manufacturer and
distributor of packaged ice in the United States.  With over 2,000
year-round employees, the company sells its products primarily
under the widely known Reddy Ice(R) brand to approximately 82,000
locations in 31 states and the District of Columbia.

                          *     *     *

Moody's Investors Service placed Reddy Ice Holdings Inc.'s
corporate family and probability of default ratings at 'B1' in
July 2007.  The ratings still hold to date with a stable outlook.


RESIDENTIAL ACCREDITED: Fitch Cuts Ratings on 47 Cert. Classes
--------------------------------------------------------------
Fitch Ratings has taken rating actions on 18 Residential
Accredited Loans Inc. transactions:

RALI, Series 2005-QO4:

  -- Class A affirmed at 'AAA';
  -- Class M-1 affirmed at 'AA+';
  -- Class M-2 affirmed at 'A+';
  -- Class M-3 affirmed at 'BBB+';
  -- Class B-1 downgraded to 'B+' from 'BB';
  -- Class B-2 downgraded to 'CC/DR4' from 'B'.

RALI, Series 2005-QS9:

  -- Class A affirmed at 'AAA';
  -- Class M-1 affirmed at 'AA';
  -- Class M-2 affirmed at 'A';
  -- Class M-3 affirmed at 'BBB';
  -- Class B-1 downgraded to 'B' from 'BB';
  -- Class B-2 downgraded to 'C/DR4' from 'B'.

RALI, Series 2005-QS10:

  -- Class A affirmed at 'AAA';
  -- Class M-1 affirmed at 'AA';
  -- Class M-2 affirmed at 'A';
  -- Class M-3 affirmed at 'BBB';
  -- Class B-1 downgraded to 'B+' from 'BB';
  -- Class B-2 downgraded to 'C/DR4' from 'B'.

RALI, Series 2005-QS12:

  -- Class A affirmed at 'AAA';
  -- Class M-1 affirmed at 'AA';
  -- Class M-2 affirmed at 'A';
  -- Class M-3 downgraded to 'BBB-' from 'BBB';
  -- Class B-1 downgraded to 'B' from 'BB', and remains on
     Rating Watch Negative;
  -- Class B-2 revised to 'C/DR5' from 'C/DR4'.

RALI, Series 2005-QS14 Pool 1:

  -- Class I-A affirmed at 'AAA';
  -- Class I-M-1 affirmed at 'AA';
  -- Class I-M-2 affirmed at 'A';
  -- Class I-M-3 affirmed at 'BBB';
  -- Class I-B-1 downgraded to 'B+' from 'BB', and removed from
     Rating Watch Negative;
  -- Class I-B-2 revised to 'CC/DR4' from 'CC/DR3'.

RALI, Series 2005-QS14 Pool 2:

  -- Class II-A affirmed at 'AAA';

RALI, Series 2005-QS15:

  -- Class A affirmed at 'AAA';
  -- Class M-1 affirmed at 'AA';
  -- Class M-2 affirmed at 'A';
  -- Class M-3 downgraded to 'BB' from 'BBB';
  -- Class B-1 downgraded to 'C/DR4' from 'BB', and removed
     from Rating Watch Negative;
  -- Class B-2 downgraded to 'C/DR5' from 'B', and removed from
     Rating Watch Negative.

RALI, Series 2005-QS16:

  -- Class A affirmed at 'AAA';
  -- Class M-1 affirmed at 'AA';
  -- Class M-2 affirmed at 'A';
  -- Class M-3 downgraded to 'BB' from 'BBB';
  -- Class B-1 downgraded to 'C/DR4' from 'BB', and removed
     from Rating Watch Negative;
  -- Class B-2 downgraded to 'C/DR5' from 'B', and removed from
     Rating Watch Negative.

RALI, Series 2006-QS1:

  -- Class A affirmed at 'AAA';
  -- Class M-1 affirmed at 'AA';
  -- Class M-2 downgraded to 'A-' from 'A';
  -- Class M-3 downgraded to 'BB' from 'BBB';
  -- Class B-1 downgraded to 'C/DR4' from 'BB', and removed
     from Rating Watch Negative;
  -- Class B-2 remains at 'C/DR5'.


RALI, Series 2006-QS2 Group I 30 Year:

  -- Class I-A affirmed at 'AAA';
  -- Class I-M-1 rated 'AA', and placed on Rating Watch
     Negative;
  -- Class I-M-2 downgraded to 'A-' from 'A', and placed on
     Rating Watch Negative;
  -- Class I-M-3 downgraded to 'B' from 'BBB';
  -- Class I-B-1 downgraded to 'C/DR6' from 'BB', and removed
     from Rating Watch Negative;
  -- Class I-B-2 revised to 'C/DR6' from 'C/DR5'.

RALI, Series 2006-QS2 Group II 15 Year:

  -- Class II-A affirmed at 'AAA';
  -- Class II-M-1 affirmed at 'AA';
  -- Class II-M-2 affirmed at 'A';
  -- Class II-M-3 affirmed at 'BBB';
  -- Class II-B-1 affirmed at 'BB';
  -- Class II-B-2 affirmed at 'B'.

RALI, Series 2006-QS5:

  -- Class A affirmed at 'AAA';
  -- Class M-1 rated 'AA', and placed on Rating Watch Negative;
  -- Class M-2 downgraded to 'A-' from 'A', and placed on
     Rating Watch Negative;
  -- Class M-3 downgraded to 'B' from 'BBB';
  -- Class B-1 downgraded to 'C/DR5' from 'BB', and removed
     from Rating Watch Negative;
  -- Class B-2 revised to 'C/DR6' from 'C/DR5'.

RALI, Series 2006-QS6 Group I 30yr:

  -- Class I-A affirmed at 'AAA';
  -- Class I-M-1 downgraded to 'AA-' from 'AA';
  -- Class I-M-2 downgraded to 'BBB+' from 'A', and placed on
     Rating Watch Negative;
  -- Class I-M-3 downgraded to 'B' from 'BBB', and placed on
     Rating Watch Negative;
  -- Class I-B-1 downgraded to 'C/DR5' from 'BB', and removed
     from Rating Watch Negative;
  -- Class I-B-2 downgraded to 'C/DR5' from 'B', and removed
     from Rating Watch Negative.

RALI, Series 2006-QS6 Group II 15yr:

  -- Class II-A affirmed at 'AAA';
  -- Class II-M-1 affirmed at 'AA';
  -- Class II-M-2 affirmed at 'A';
  -- Class II-M-3 affirmed at 'BBB';
  -- Class II-B-1 affirmed at 'BB';
  -- Class II-B-2 rated 'B', and placed on Rating Watch
     Negative.

RALI, Series 2006-QS7:

  -- Class A affirmed at 'AAA';
  -- Class M-1 downgraded to 'AA-' from 'AA';
  -- Class M-2 downgraded to 'BBB' from 'A', and placed on
     Rating Watch Negative;
  -- Class M-3 downgraded to 'C/DR4' from 'BBB';
  -- Class B-1 downgraded to 'C/DR5' from 'BB', and removed
     from Rating Watch Negative;
  -- Class B-2 remains at 'C/DR5'.


RALI, Series 2006-QS8:

  -- Class A affirmed at 'AAA';
  -- Class M-1 downgraded to 'AA-' from 'AA';
  -- Class M-2 downgraded to 'BBB+' from 'A', and placed on
     Rating Watch Negative;
  -- Class M-3 downgraded to 'B' from 'BBB', and placed on
     Rating Watch Negative;
  -- Class B-1 downgraded to 'C/DR5' from 'BB', and removed
     from Rating Watch Negative;
  -- Class B-2 remains at 'C/DR5'.

RALI, Series 2006-QS11:

  -- Class A affirmed at 'AAA';
  -- Class M-1 downgraded to 'AA-' from 'AA';
  -- Class M-2 downgraded to 'BBB+' from 'A', and placed on
     Rating Watch Negative;
  -- Class M-3 downgraded to 'B' from 'BBB', and placed on
     Rating Watch Negative;
  -- Class B-1 downgraded to 'C/DR4' from 'BB';
  -- Class B-2 downgraded to 'C/DR5' from 'B', and removed from
     Rating Watch Negative.

RALI, Series 2006-QS15:

  -- Class A affirmed at 'AAA';
  -- Class M-1 downgraded to 'AA-' from 'AA';
  -- Class M-2 downgraded to 'BBB+' from 'A', and placed on
     Rating Watch Negative;
  -- Class M-3 downgraded to 'B' from 'BBB';
  -- Class B-1 downgraded to 'C/DR5' from 'BB', and removed
     from Rating Watch Negative;
  -- Class B-2 downgraded to 'C/DR6' from 'B', and removed from
     Rating Watch Negative.

The affirmations, affecting approximately $6.2 billion of
outstanding certificates, reflect a stable relationship between
credit enhancement and future loss expectations.  The downgrades,
affecting approximately $292.9 million in outstanding
certificates, and classes placed on Rating Watch Negative,
affecting approximately $120.3 million of outstanding
certificates, reflect deterioration in the relationship between CE
and loss expectation.

The collateral of the above transactions primarily consists of 30-
and 15-year fixed-rate mortgage loans extended to Alt-A borrowers
and are secured by first liens, primarily on one- to four-family
residential properties.  As of the October 2007 distribution date,
the above transactions are seasoned from 12 (series 2006-QS15) to
29 (series 2005-QS9) months.  The pool factors (current mortgage
loan principal outstanding as a percentage of the initial pool)
range from 61% (series 2005-QO4) to 83% (series 2006-QS15).  GMAC-
RFC (rated 'RMS2+' by Fitch) is the master servicer for the
abovementioned transactions.


REVLON CONSUMER: Note Repayment Cues Moody's to Hold Ratings
------------------------------------------------------------
Moody's Investors Service affirmed all of the ratings of Revlon
Consumer Products Corporation but revised the outlook to positive
from negative.

The revision of the outlook to positive reflects the elimination
of a significant near-term maturity following the company's
announcement that it intends to repay in full the $167.4 million
of remaining 8 5/8% senior subordinated notes in a manner that is
neutral to bondholders by retaining a $170 million senior
subordinated term loan from its indirect parent company,
MacAndrews and Forbes.  The revised outlook also reflects Revlon's
success in achieving its financial targets for the last twelve
month period ending September 2007 and the resulting significant
improvement in profitability and credit metrics.

"While Revlon's financial performance has significantly improved
and market share trends have stabilized over the last twelve
months, the company still needs to demonstrate that these gains
are sustainable while at the same time achieving profitable growth
in its core Revlon and Almay franchises," says Moody's Vice
President Janice Hofferber.

These ratings of Revlon were affirmed:

  -- Corporate family rating at Caa1;
  -- Probability of default rating at Caa1;
  -- $160 million senior secured asset based revolving credit
     facility due 2012 at B1 (point estimate revised to LGD 2,
     12% from LGD 2, 11%);
  -- $840 million senior secured term loan facility due 2012 at
     B3 (point estimate revised to LGD 3, 37% from LGD 3, 36%);
  -- $387 million 9.5% senior notes due 2011 at Caa2 (point
     estimate revised to LGD 4, 63% from LGD 4, 61%);
  -- $167 million 8.625% senior subordinated notes due 2008 at
     Caa3 (point estimate revised to LGD 6, 94% from LGD 6,
     93%); and
  -- Speculative grade liquidity rating of SGL-4

Outlook revised to positive from negative.

Revlon's Caa1 corporate family rating reflects the weak free cash
flow, high leverage and weak liquidity profile of the company.
The Caa1 rating also incorporates the remaining refinancing risks
that Revlon faces due to the relatively short maturity date of the
newly provided term loan (matures August 1, 2009), as well as the
ongoing financial and operational challenges the company continues
to face.  While Moody's views M&F's agreement to provide Revlon
with a $170 million senior subordinated term loan as helpful in
the near term, but notes that the short dated maturity of the term
loan as well as the expiration of M&F's existing $50 million back-
up line of credit at closing will continue to strain liquidity.
Nevertheless, M&F's willingness to provide this critical financing
as well as its track record of supporting Revlon over the last
several years by backstopping equity rights offerings and by
providing back-up liquidity, is an important ratings factor.

The positive outlook reflects Moody's recognition that the company
has eliminated a significant near-term maturity and that its
credit metrics and financial performance have meaningfully
improved.  Accordingly, profitability and cash flow generation
have improved such that EBITA margins are now approaching 10% and
free cash flow usage has substantially improved.  In addition,
other key credit metrics, while still more consistent with a Caa
issuer, are also stronger -- EBITDA to interest coverage ratios
are now in excess of 1.6 times and Debt to EBITDA was 6.7 times
for the last twelve month period ending September 2007 (using
Moody's standard analytic adjustments).

Nevertheless, Revlon will need to demonstrate a longer track
record of financial stability and profitable market share growth
given the still leveraged profile, negative free cash flow and
need to refinance the M&F term loan by August 2009. Revlon's
highly leveraged profile and liquidity constraints remain on-going
rating concerns as the company participates in an industry segment
that requires material upfront brand support, fixture, and product
development expenditures with uncertain consumer receptivity.

Moody's affirmation of Revlon's speculative grade liquidity rating
of SGL-4 reflects the company's still weak cash flow from
operations and inability to satisfy its basic cash requirements
through internal sources with no additional need for external
financing.  In addition, while the agreement with M&F to provide a
$170 million senior subordinated loan satisfies a critical
requirement in its 8 5/8% senior note indenture in a way that is
not detrimental to bondholders and has a positive impact on
liquidity, the short term maturity date of the term loan will
require another significant financing.  Revlon's resolution of
these two critical factors would likely lead to an upgrade in its
speculative grade liquidity rating.

Headquartered in New York, Revlon Consumer Products Corporation is
a worldwide cosmetics, skin care, fragrance, and personal care
products company.  The company is a wholly-owned subsidiary of
Revlon, Inc., which is majority-owned by MacAndrews & Forbes,
which is in turn wholly-owned by Ronald O. Perelman.  Revlon's net
sales for the twelve-month period ended September 2007 were
approximately $1.4 billion.  MacAndrews & Forbes beneficially owns
approximately 57% of Revlon's outstanding Class A common stock,
100% of Revlon's Class B common stock and 60% of the Revlon's
combined outstanding shares of Class A and Class B common stock,
which together represent approximately 74% of the combined voting
power of such shares.


RH DONNELLEY: $100MM Stock Repurchase Won't Affect Fitch's IDR
--------------------------------------------------------------
R.H. Donnelley announced that its board has authorized a $100
million stock repurchase plan over 12 months.  This announcement
will not affect Fitch's 'B+' Issuer Default Ratings on R.H.
Donnelley Corp, R.H. Donnelley, Inc., Dex Media, Inc., Dex Media
East and Dex Media West or the security ratings.

RHD affirmed its 2007 guidance and announced its expectations for
2008: $2,745 in ad sales, $1,440 in EBITDA, $620 million in free
cash flow and $9.5 billion in year-end net debt.  Within the
framework of RHD's 2008 guidance, Fitch expects the company to
repay as much as $300 million in debt next year.

Fitch believes management will continue to balance debt repayment
with returns of capital to shareholders, including the recently
instituted dividend.  Fitch also expects leverage levels will
remain above management's stated target of 5.5 times for the next
three to five years.  There has been and remains capacity for some
sustained top line revenue softness and modest additional
shareholder friendly actions incorporated into the IDR.  The
Rating Outlook remains Stable.

Fitch currently rates RHD and its subsidiaries as:

R.H. Donnelley Corp. (RHD Holding Company)
  -- Issuer Default Rating (IDR) 'B+';
  -- Senior unsecured 'B/RR5'.

R.H. Donnelley Inc. (Operating Company; subsidiary of RHD)
  -- Issuer Default Rating (IDR) 'B+';
  -- Bank facility 'BB+/RR1';
  -- Senior unsecured 'BB+/RR1'.

Dex Media, Inc. (Dex Holding Company; subsidiary of RHD)
  -- Issuer Default Rating (IDR) 'B+';
  -- Senior unsecured 'B/RR5'.

Dex Media East, Inc. (Operating Company; subsidiary of Dex)
  -- Issuer Default Rating (IDR) 'B+';
  -- Bank facility 'BB+/RR1'.

Dex Media West, Inc. (Operating Company; subsidiary of Dex)
  -- Issuer Default Rating (IDR) 'B+';
  -- Bank facility affirmed at 'BB+/RR1';
  -- Senior unsecured 'BB+/RR1';
  -- Senior subordinated 'B/RR5'.


ROBERTO REYNA: Case Summary & 17 Largest Unsecured Creditors
------------------------------------------------------------
Debtors: Roberto Jesus Reyna, Jr.
         Rosamaria de la Paz Reyna
         2802 Charleston
         Pharr, TX 78577

Bankruptcy Case No.: 07-70566

Chapter 11 Petition Date: December 3, 2007

Court: Southern District of Texas (McAllen)

Judge: Richard S. Schmidt

Debtors' Counsel: Eduardo V. Rodriguez, Esq.
                  Malaise Law Firm
                  1265 North Expressway 83
                  Brownsville, TX 78521
                  Tel: (956) 547-9638
                  Fax: (956) 547-9630

Total Assets: $1,683,852

Total Debts:  $1,566,583

Debtors' list of its 17 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Bank of America                    Open-End Credit        $45,443
P.O. Box 15726
Wilmington, DE 19886-5726

Monogram Bank of North America     Credit Card            $44,564
P.O. Box 26012
NC4-105-03-14
Greensboro, NC 27420

American Express                   Credit Card            $21,306
General Counsels Office
3200 Commerce Parkway
MD 19-01-06
Merrimar, FL 33025

Internal Revenue Service           1040 Taxes             $57,541

Sears/CBSD                         Credit Card            $19,285

Sherman Acquisitions               Factoring Company      $19,012
                                   Account

Jesus Betancourt                   Services Rendered      $19,000

South-Tex Concrete                 Services Rendered      $18,251

Mastercard                         Credit Card            $17,340

Naft Federal Credit Union          Credit Card            $26,634

Doctor's Hospital at Renaissance   Services Rendered      $12,333

Discover Financial                 Credit Card            $11,891

VISA                               Credit Card             $9,823

GEMB/Lennox                        Charge Account          $9,598

ABC Supply Co., Inc.               Tile                    $6,973

Lowes BRC                          Credit Card             $6,898

Accounts Receivable Mgt., Inc.     Lowes BRC               $6,898


RURAL TEXAS: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Rural Texas, Ltd.
        4705 Ranch View Road
        Fort Worth, TX 76109

Bankruptcy Case No.: 07-45368

Chapter 11 Petition Date: December 3, 2007

Court: Northern District of Texas (Fort Worth)

Judge: Russell F. Nelms

Debtor's Counsel: Jeff P. Prostok, Esq.
                  Forshey & Prostok, LLP
                  777 Main Street, Suite 1290
                  Fort Worth, TX 76102
                  Tel: (817) 877-8855
                  Fax: (817) 877-4151

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $100,000 to $1 Million

The Debtor did not file a list of its 20 largest unsecured
creditors.


SACO I: Moody's Downgrades Ratings on 65 Certificate Classes
------------------------------------------------------------
Moody's Investors Service has downgraded 65 certificates, placed
on review for possible downgrade 8 certificates, and confirmed the
rating on 1 class of certificates from nine transactions issued by
SACO I Trust.  All transactions are backed by second lien loans.
The certificates were downgraded or placed on review for possible
downgrade because the bonds' credit enhancement levels, including
excess spread and subordination, were too low compared to the
current projected loss numbers at the previous rating levels.

Substantial pool losses over the last few months have continued to
erode credit enhancement available to the mezzanine and senior
certificates.  Despite the large amount of write-offs due to
losses, delinquency pipelines have remained high as borrowers
continue to default.  The actions reflect Moody's expectation that
the significant delinquency pipelines will have a further negative
impact on the credit support for the senior and mezzanine
certificates.

The rating of Class II-A-2 from SACO I Trust 2006-5 was confirmed
due to the extra subordination it receives from Class II-A-3.

Complete rating actions are:

Issuer: Saco I Trust 2006-2

  -- Cl. I-M, Downgraded to B1 from Ba3;
  -- Cl. I-B-1, Downgraded to Caa2 from B1;
  -- Cl. I-B-2, Downgraded to C from Ca;
  -- Cl. II-M, Downgraded to Ca from B3;
  -- Cl. II-B-1, Downgraded to C from Ca.

Issuer: SACO I Trust 2006-3

  -- Cl. M-1, Placed on Review for Possible Downgrade,
     currently Aa2;
  -- Cl. M-2, Downgraded to Baa3 from A2;
  -- Cl. M-3, Downgraded to Ba3 from Baa1;
  -- Cl. M-4, Downgraded to Caa2 from Baa3;
  -- Cl. M-5, Downgraded to Ca from Ba1;
  -- Cl. M-6, Downgraded to C from Ba3;
  -- Cl. B-1, Downgraded to C from B3;
  -- Cl. B-2, Downgraded to C from Ca.

Issuer: SACO I Trust 2006-4

  -- Cl. M-1, Placed on Review for Possible Downgrade,
     currently Aa1;
  -- Cl. M-2, Downgraded to Ba1 from A2;
  -- Cl. M-3, Downgraded to B1 from Baa1;
  -- Cl. M-4, Downgraded to Caa2 from Baa3;
  -- Cl. M-5, Downgraded to Ca from Ba1;
  -- Cl. M-6, Downgraded to C from B1;
  -- Cl. B-1, Downgraded to C from B3;
  -- Cl. B-2, Downgraded to C from Ca.

Issuer: SACO I Trust 2006-5

  -- Cl. I-M-2, Downgraded to Baa3 from A3;
  -- Cl. I-M-3, Downgraded to Ba2 from Baa1;
  -- Cl. I-M-4, Downgraded to B2 from Baa2;
  -- Cl. I-M-5, Downgraded to Caa2 from Baa3;
  -- Cl. I-M-6, Downgraded to Ca from Ba1;
  -- Cl. I-B-1, Downgraded to C from B1;
  -- Cl. I-B-2, Downgraded to C from Caa1;
  -- Cl. I-B-3, Downgraded to C from Ca.
  -- Cl. II-A-2, Confirmed at Aaa;
  -- Cl. II-M-1, Downgraded to A3 from A1;
  -- Cl. II-M-2, Downgraded to B1 from Baa2;
  -- Cl. II-M-3, Downgraded to Caa2 from Baa3;
  -- Cl. II-M-4, Downgraded to Ca from Ba2;
  -- Cl. II-M-5, Downgraded to C from B3;
  -- Cl. II-M-6, Downgraded to C from Ca.

Issuer: SACO I Trust 2006-6

  -- Cl. A, Placed on Review for Possible Downgrade, currently
     Aa2;
  -- Cl. M-1, Downgraded to Baa2 from A2;
  -- Cl. M-2, Downgraded to B2 from Baa2;
  -- Cl. M-3, Downgraded to Caa3 from Ba1;
  -- Cl. M-4, Downgraded to C from Ba2;
  -- Cl. M-5, Downgraded to C from B2;
  -- Cl. M-6, Downgraded to C from Ca.

Issuer: SACO I Trust 2006-7

  -- Cl. A, Placed on Review for Possible Downgrade, currently
     Aa2;
  -- Cl. M-1, Downgraded to Baa3 from A2;
  -- Cl. M-2, Downgraded to Caa1 from Baa1;
  -- Cl. M-3, Downgraded to Ca from Baa3;
  -- Cl. M-4, Downgraded to C from Ba2;
  -- Cl. M-5, Downgraded to C from B2;
  -- Cl. M-6, Downgraded to C from Ca.

Issuer: SACO I Trust 2006-9

  -- Cl. M-1, Placed on Review for Possible Downgrade,
     currently Aa3;
  -- Cl. M-2, Downgraded to Baa3 from A2;
  -- Cl. M-3, Downgraded to Ba1 from A3;
  -- Cl. M-4, Downgraded to Ba2 from Baa1;
  -- Cl. M-5, Downgraded to B1 from Baa2;
  -- Cl. M-6, Downgraded to Caa2 from Baa3;
  -- Cl. B-1, Downgraded to C from Ba1;
  -- Cl. B-2, Downgraded to C from Ba2;
  -- Cl. B-3, Downgraded to C from B1;
  -- Cl. B-4, Downgraded to C from Ca.

Issuer: SACO I Trust 2006-10

  -- Cl. A, Placed on Review for Possible Downgrade, currently
     Aa1;
  -- Cl. M-1, Placed on Review for Possible Downgrade,
     currently Aa3;
  -- Cl. M-2, Downgraded to Ba2 from A2;
  -- Cl. M-3, Downgraded to Ba3 from A3;
  -- Cl. M-4, Downgraded to Caa2 from Baa1;
  -- Cl. M-5, Downgraded to Ca from Baa2;
  -- Cl. M-6, Downgraded to C from Baa3;
  -- Cl. B-1, Downgraded to C from Ba2;
  -- Cl. B-2, Downgraded to C from B2;
  -- Cl. B-3, Downgraded to C from Ca.

Issuer: SACO I Trust 2006-12

  -- Cl. I-A, Placed on Review for Possible Downgrade,
     currently Aaa;
  -- Cl. I-M-1, Downgraded to Baa3 from Aa2;
  -- Cl. I-M-2, Downgraded to Caa2 from B3;
  -- Cl. I-M-3, Downgraded to C from Ca.


SAINT CATHERINE: Case Summary & 13 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Saint Catherine Senior Living Center LLC
        aka The Village at St. Catherine
        5565 South Yosemite
        Greenwood Village, CO 80111

Bankruptcy Case No.: 07-24167

Type of Business: The Debtor operates a health care business.

Chapter 11 Petition Date: December 4, 2007

Court: District of Colorado (Denver)

Debtor's Counsel: Caroline C. Fuller, Esq.
                  Fairfield and Woods, P.C.
                  1700 Lincoln St.
                  Suite 2400
                  Denver, CO 80203-4524
                  Tel: (303) 830-2400
                  Fax: (303) 830-1033

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's list of its 13 Largest Unsecured Creditors:

   Entity                                          Claim Amount
   ------                                          ------------
Rita J. Zaug                                           $100,000
c/o Stephen J. Youllos
28478 Horshoe Circle
Santa Clarita, CA 91390

Aicco, Inc.                                              $5,106
P.O. Box 200456
Dallas, TX 75320

Excel Energy                                             $1,935
P.O. Box 9477
Minneapolis, MN 55484-9477

Land Tech Contractors, Inc.                              $1,152

Grainger                                                   $605

Bruce Marks                                                $500

Wescom Solutions, Inc.                                     $307

Republic Services of Colorado                              $278

Southeast Offices Supply                                   $270

Bank of America Leasing                                    $258

Five Star Sanitary Products                                $255

Freewheel Vans                                             $243

Tyssenrkupp Elevator Corp.                                 $232
TKE Corp


SALANDER-O'REILLY: U.S. Trustee Wants Ch. 11 Trustee Appointed
--------------------------------------------------------------
The United States Trustee for Region 2 filed a request with the
U.S. Bankruptcy Court for the Southern District of New York
for an appointment of a chapter 11 trustee in Salander-O'Reilly
Galleries LLC's bankruptcy case, Bill Rochelle of Bloomberg
News reports.

According to the report, the U.S. Trustee argued in her motion
that the gallery's selection of an outside chief restructuring
officer did not obviate the need for a formal trustee.

The hearing to consider the U.S. Trustee's request has
been set for Dec. 13, 2007, Bloomberg says.

Established in 1976, New York-based Salander-O'Reilly Galleries
LLC -- http://www.salander.com/-- exhibits and manages fine art
from renaissance to contemporary.  On Nov. 1, 2007, three
creditors filed an involuntary chapter 7 petition against the
gallery (Bankr. S.D.N.Y. Case Number 07-13476).  The petitioners,
Carol F. Cohen of Two Swans Farm, Cavallon Family LP, and Richard
Ellenberg, disclosed total claims of more than $5 million.  Amos
Alter, Esq., at Troutman Sanders LLP and John Koegel, Esq., at The
Koegel Group LLP represent the petitioners.

On Nov. 9, 2007, the Debtor's case was converted to a chapter 11
proceeding (Bankr. S.D.N.Y. Case No. 07-30005).  Alan D. Halperin,
Esq., at Halperin Battaglia Raicht, LLP, represents the gallery.

Salander-O'Reilly Galleries is owned by Lawrence B. Salander and
his wife, Julie D. Salander, of Millbrook, New York.  The couple
also has membership interests in galleries including non-debtor
entities, Renaissance Art Investors and Salander Decorative Arts
LLC.  The couple filed for chapter 11 protection on Nov. 2, 2007
(Bankr. S.D.N.Y. Case No. 07-36735).  Douglas E. Spelfogel, Esq.
and Richard J. Bernard, Esq. at Baker & Hostetler LLP and Susan P.
Persichilli, Esq. at Buchanan Ingersoll PC represent the Debtors
in their restructuring efforts.  When they filed for bankruptcy,
Mr. and Mrs. Salander listed assets and debts between $50 million
and $100 million.

Prior to bankruptcy, Mr. Salander resigned as Salander-O'Reilly
Galleries' manager and turned over the control to Triax Capital
Advisors LLC, an independent turnaround firm.


SERENA POINT: Snobs Bank's Foreclosure Sale by Filing Chapter 7
---------------------------------------------------------------
Serena Point LLC had filed for bankruptcy under Chapter 7 with the
U.S. Bankruptcy Court in Jacksonville Beach, Florida, on Oct. 31,
2007, over adverse delays in construction, slump in the market,
and lack of support from its bank lender, Caren Burmeister of
Shorelines reported Monday.

Serena's filed for bankruptcy a day prior to a foreclosure sale
of$7.5 million worth of condo units, which was set November 1 by
its creditor, Oceanside Bank, Shorelines said.

Serena had tried to offer Oceanside Bank $7 million payment out
from sale contract, but the bank proceeded with the foreclosure in
September, Shorelines related, citing Ryan Wetherhold, part owner
of Serena.

The Debtor's creditors is set to meet today.  The last day for
filing proofs of claims against the estate set for February 11,
Shorelines added.

Jacksonville Beach, Florida-based Serena Point LLC develops
condominium and owns Serena Point Condominium at Jacksonville.
The Debtor filed for Chapter 7 protection on Oct. 31, 2007 at the
U.S. Bankruptcy Court of Jacksonville.  Rodger Friedline, Esq.,
represents the Debtors.  Serena Point LLC listed about
$8.5 million in liabilities and about $9.7 million in assets.


SHAW GROUP: Expects $19 Million Net Loss for Fiscal Year 2007
-------------------------------------------------------------
The Shaw Group Inc. disclosed that despite its best efforts to
file its fiscal 2007 financial results on Form 10-K with the
Securities and Exchange Commission by Dec. 4, 2007, it has not
completed the filing.  While the financial statements are
substantially complete, the company has not concluded its
evaluation of deferred taxes.  Shaw is working diligently to
complete this process as soon as possible.  The company previously
announced that the net loss for fiscal 2007 would be in the range
of $15 to $19 million. Based on its work to date, the company
believes that the net loss will approximate $19 million.  Shaw
continues to estimate its operating cash flow for 2007 will exceed
$460 million and its Aug. 31, 2007, backlog of unfilled orders
will be a record $14.3 billion.

The company believes that the financial reporting process will be
completed within the next several days.  However, the timing of
the filing and the anticipated results for fiscal 2007 remain
subject to completion of the deferred tax evaluation, any changes
in estimates or other matters that may arise up to the filing of
the 2007 Form 10-K.

Based in Baton Rouge, Louisiana, The Shaw Group Inc. (NYSE: SGR)
-- http://www.shawgrp.com/-- provides services to the
environmental, infrastructure and homeland security markets,
including consulting, engineering, construction, remediation and
facilities management services to governmental and commercial
customers.  It is also a vertically integrated provider of
engineering, procurement, pipe fabrication, construction and
maintenance services to the power and process industries.  The
company segregates its business activities into four operating
segments: Environmental & Infrastructure; Energy & Chemicals;
Maintenance, and Fabrication, Manufacturing & Distribution.  In
January 2005, the company sold substantially all of the assets of
its Shaw Power Technologies, Inc. and Shaw Power Technologies
International, Ltd. units to Siemens Power Transmission and
Distribution Inc., a unit of Siemens AG.

The company has operations in Chile, China, Malaysia, the United
Kingdom and, Venezuela, among others.

                          *     *     *

Standard & Poor's Ratings Services affirmed its 'BB' corporate
credit rating on The Shaw Group Inc. and removed it from
CreditWatch, where it was placed with negative implications in
October 2006.  S&P said the outlook is stable.

In addition, 'BB' senior secured debt rating was affirmed after
the $100 million increase to the company's revolving credit
facility.


SINOBIOMED INC: Sept. 30 Balance Sheet Upside-Down by $6.2 Million
------------------------------------------------------------------
Sinobiomed Inc.'s consolidated balance sheet at Sept. 30, 2007,
showed $16.7 million in total assets, $22.9 million in total
liabilities, and $52,146 in minority interest, resulting in a
$6.2 million total shareholders' deficit.

At Sept. 30, 2007, the company's consolidated balance sheet also
showed strained liquidity with $9.3 million in total current
assets available to pay $22.7 million in total current
liabilities.

The company reported a net loss of $1.2 million on sales of
$4.1 million for the third quarter ended Sept. 30, 2007, compared
with a net loss of $376,202 on sales of $183,076 in the third
quarter of 2006.

Revenues for the three months ended Sept. 30, 2007, includes
approximately $3.9 million or two months of revenues from Suzhou
Bioai Medical Development Company, a pharmaceutical distribution
company which Sinobiomed acquired on Aug. 6 2007.

Operating expenses increased from $705,133 for the three months
ended Sept. 30, 2006, to $2,063,404 for the three months ended
Sept. 30, 2007.  This increase was primarily due to an increase in
general and administrative expenses and an expense relating to
stock-based compensation, being recorded in 2007.

Results for the three month period ending Sept. 30, 2007, also
included income from forgiveness of interest on debt in the amount
of $2.3 million and write down of goodwill in the amount of
$1.5 million arising from the the excess acquisition price paid
over the fair values of the net assets acquired from Suzhou Boai
on Aug. 6, 2007.

                            Liquidity

At Sept. 30, 2007, the company had approximately $1.7 million of
cash on hand and a working capital deficiency of $13.4 million.
The company believes that its cash on hand as at Sept. 30, 2007,
the funds raised subsequent to September 30 in the amount of
$822,507, and the funds it plans to raise from additional equity
financing, and its future revenues from its new products currently
entering the market will enable the company to meet its working
capital needs and its debt service requirements for the following
12 months.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?260d

                     Going Concern Doubt

Schumacher & Associates Inc., in Denver, expressed substantial
doubt about Sinobiomed Inc.'s ability to continue as a going
concern after auditing the company's consolidated financial
statements for the year ended Dec. 31, 2006.  The auditing firm
pointed to the company's operating losses since inception,
negative working capital and $-0- cash as of Dec. 31, 2006.

                      About Sinobiomed Inc.

Sinobiomed Inc. formerly CDoor Corp. (OTC BB: SOBM) --
http://www.sinobiomed.com/-- was incorporated under the laws of
the State of Delaware on Nov. 18, 2004.  Based in Shanghai, China,
the company is a developer of genetically engineered recombinant
protein drugs and vaccines.  Sinobiomed currently has 10 products
approved or in development: three on the market, four in clinical
trials and three in research and development.  The company's
products respond to a wide range of diseases and conditions,
including: malaria, hepatitis, surgical bleeding, cancer,
rheumatoid arthritis, diabetic ulcers and burns, and blood cell
regeneration.


SKATING CLUBS: Case Summary & Nine Largest Unsecured Creditors
--------------------------------------------------------------
Lead Debtor: Skating Clubs of Georgia, Inc.
             1104 Grayson Highway
             Lawrenceville, GA 30045

Bankruptcy Case No.: 07-80262

Chapter 11 Petition Date: December 3, 2007

Court: Northern District of Georgia (Atlanta)

Judge: Paul W. Bonapfel

Debtor's Counsel: George M. Geeslin, Esq.
                  Eight Piedmont Center, Suite 550
                  3525 Piedmont Road, N.E.
                  Atlanta, GA 30305-1565
                  Tel: (404) 841-3464
                  Fax: (404) 816-1108

Estimated Assets: $1 million to $10 million

Estimated Debts: $500,000 to $1 million

Debtor's Nine Largest Unsecured Creditors:

   Entity                   Nature of Claim         Claim Amount
   ------                   ---------------         ------------

The Georgian Bank                                      $800,000
3270 Florence Road
Atlanta, GA 30396

Belke, Dave                                             $50,000
750 Park Avenue SE
Apt. 20
Atlanta, GA 30326

Gazaway, Dane R.                                        $25,000
2101 Green Drive SW
Marietta, GA 30064

Gwinnett County Tax                                      $4,460

Clean Tech                                               $3,617

Georgia Power                                            $3,310

Mitch Davis                                              $3,000

City of Lawrenceville        ad valorem tax              $1,559

Gwinnett County Water                                      $530


SOUNDVIEW HOME: Moody's Slices Rating on Cl. M-2 Certs. to Ba1
--------------------------------------------------------------
Moody's Investors Service has downgraded 8 certificates and placed
on review for possible downgrade one class of certificates from
Soundview Home Loan Trust 2006-A.  The transaction is backed by
second lien loans.  The certificates were downgraded or placed on
review for possible downgrade because the bonds' credit
enhancement levels, including excess spread and subordination,
were too low compared to the current projected loss numbers at the
previous rating levels.

Substantial pool losses over the last few months have continued to
erode credit enhancement available to the mezzanine and senior
certificates.  Despite the large amount of write-offs due to
losses, the delinquency pipeline has remained high as borrowers
continue to default.  The actions reflect Moody's expectation that
the significant delinquency pipeline will have a further negative
impact on the credit support for the senior and mezzanine
certificates.

Complete rating actions are:

Issuer: Soundview Home Loan Trust 2006-A

  -- Cl. M-1, Placed on Review for Possible Downgrade,
     currently Aa2;
  -- Cl. M-2, Downgraded to Ba1 from A2;
  -- Cl. M-3, Downgraded to B2 from Baa1;
  -- Cl. M-4, Downgraded to Caa1 from Baa3;
  -- Cl. M-5, Downgraded to Caa2 from Ba1;
  -- Cl. M-6, Downgraded to Ca from Ba3;
  -- Cl. M-7, Downgraded to C from B3;
  -- Cl. M-8, Downgraded to C from Caa1;
  -- Cl. M-9, Downgraded to C from Ca.


ST BERNARD: Sept. 30 Balance Sheet Upside-Down by $4.0 Million
--------------------------------------------------------------
St. Bernard Software Inc.'s consolidated balance sheet at
Sept. 30, 2007, showed $16.7 million in total assets and
$20.7 million in total liabilities, resulting in a $4.0 million
total stockholders' deficit.

At Sept. 30, 2007, the company's consolidated balance sheet also
showed strained liquidity with $7.1 million in total current
assets available to pay $14.9 million in total current
liabilities.

The company reported net income of $2.2 million on total sales of
$4.5 million for the the third quarter ended Sept. 30, 2007,
compared with a net loss of $879,922 on total sales of
$5.7 million in the comparable period of 2006.

The net income for the current quarter primarily resulted from an
$8.0 million gain on the sale of the company's Open File Manager
product line to EVault Inc. in August 2007, offset by an increase
in net operating expenses of $2.6 million.  The increase in net
operating expenses consisted primarily of an impairment charge
related to the intangible assets in connection with the
acquisition of AgaveOne of approximately $3.3 million.

The company reported revenues of $14.9 million for the first nine
months of 2007 compared to $16.5 million in the same period last
year, a decrease of 9.7%.  Net loss for the first nine months of
2007 was $3.5 million, compared to a net loss of $3.3 million in
the same period last year.

Cash used in operations for the nine months ended Sept. 30, 2007,
was $9.7 million compared to cash used during the nine months
ended Sept. 30, 2006, of $3.5 million.

On May 15, 2007, the company established a line of credit with
Silicon Valley Bank, terminating its line of credit with Camel
Financial.  The balance on the line of credit with SVB was
$1.0 million as of Sept. 30, 2007.

Full-text copies of the company's consolidated financial
statements for the quarter ended Sept. 30, 2007, are available for
free at http://researcharchives.com/t/s?2607

                       About St. Bernard

With headquarters in San Diego, Calif., St. Bernard Software Inc.
(OTC BB: SBSW) -- http://www.stbernard.com/-- is a global
provider of security appliances and hosted solutions, including
secure content management and archiving.  The company sells and
supports its products directly and through solution partners
worldwide.


STEVEN SMITH: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Lead Debtor: Steven Dale Smith
             105 Parc Du Chateau N.W.
             Atlanta, Ga 30327

Bankruptcy Case No.: 07-80457

Chapter 11 Petition Date: December 3, 2007

Court: Northern District of Georgia (Atlanta)

Judge: Mary Grace Diehl

Debtor's Counsel: Dorna Jenkins Taylor, Esq.
                  Taylor & Associates, LLC
                  1401 Peachtree Street, Suite 500
                  Atlanta, GA 30309
                  Tel: (404) 870-3560
                  Fax: (404) 745-0136
                  http://www.taylorattorneys.com/

Estimated Assets: $1 million to $100 million

Estimated Debts: $1 million to $100 million

The Debtor did not file a list of its largest unsecured creditors.


STILLWATER MINING: Weak Performance Cues Moody's to Cut Rating
--------------------------------------------------------------
Moody's Investors Service lowered the corporate family rating of
Stillwater Mining Company to B2 from B1.  At the same time,
Moody's lowered Stillwater's senior secured rating to B2 (LGD3,
44%) from B1 and senior unsecured rating to Caa1 (LGD6, 93%) from
B3.  The lowering of the rating reflects Stillwater's weak
operating and financial performance over the last three quarters
and our view that the company will continue to underachieve in the
near term, given its high employee attrition rate, reduced skill
level of the labor force, slow progression towards more
physically-demanding selective mining methods, and high capex
requirements.

Moody's believe that the company's production, earnings, and cash
flow will continue to be challenged and that the company's
liquidity will continue to deteriorate as it funds its significant
capex program.  Finally, the rating considers that the company has
a relatively modest cushion under its debt to EBITDA financial
covenant and may require covenant relief if its earnings
deteriorate from current levels.  The rating outlook is stable.

Ratings Lowered:

  -- Corporate Family Rating to B2 from B1
  -- Probability of Default Rating to B2 from B1
  -- $98.6 million Term Loan Facility due 2010 to B2 (LGD3,
     44%) from B1
  -- $40 million Revolving Credit Facility due 2009, to B2
     (LGD3, 44%) from B1
  -- $29.4 million 8% State of Montana Revenue Bonds due 2020
     to Caa1 (LGD6, 93%) from B3

Moody's last rating action on Stillwater was a downgrade of the
corporate family rating to B1 (from Ba3) in August 2006.

Stillwater Mining Company is a Billings, Montana based miner of
palladium and platinum that had 2006 revenues of $613 million.


STRUCTURED ASSET: Moody's Lowers Ratings on 37 Certificates
-----------------------------------------------------------
Moody's Investors Service has downgraded 37 certificates from five
transactions issued by Structured Asset Securities Corporation
Mortgage Loan Trust.  Each of the five SASCO transactions is
backed by second lien residential mortgage loans.  The
certificates were downgraded because relative to the previous
Moody's ratings, the respective credit enhancement levels of the
37 certificates, which include excess spread and subordination,
were low compared to the current projected loss numbers.

Substantial pool losses over the last few months have continued to
erode credit enhancement available to the senior and mezzanine
certificates.  In addition to the large amounts of write-offs due
to losses, delinquency pipelines have remained high as borrowers
continue to default.  The ratings actions reflect Moody's
expectation that the significant delinquency pipelines will have a
further negative impact on the credit support for the senior and
mezzanine certificates.

Complete rating actions are:

Issuer: Structured Asset Securities Corp Trust 2006-ARS1

  -- Cl. A1, Downgraded to A3 from A1;
  -- Cl. M1, Downgraded to Ba1 from A2;
  -- Cl. M2, Downgraded to B3 from Baa2;
  -- Cl. M3, Downgraded to Caa2 from Baa3;
  -- Cl. M4, Downgraded to Ca from Ba2;
  -- Cl. M5, Downgraded to C from B2;
  -- Cl. M6, Downgraded to C from Ca.

Issuer: Structured Asset Securities Corp Trust 2006-S1

  -- Cl. M2, Downgraded to Baa1 from A2;
  -- Cl. M3, Downgraded to Baa2 from Baa1;
  -- Cl. M4, Downgraded to Ba3 from Baa3;
  -- Cl. M5, Downgraded to Caa2 from Ba3;
  -- Cl. M6, Downgraded to Ca from B1;
  -- Cl. M7, Downgraded to C from B3;
  -- Cl. M8, Downgraded to C from Ca.

Issuer: Structured Asset Securities Corp Trust 2006-S2

  -- Cl. M2, Downgraded to Baa1 from A3;
  -- Cl. M3, Downgraded to Baa2 from Baa1;
  -- Cl. M4, Downgraded to Ba2 from Baa3;
  -- Cl. M5, Downgraded to B3 from Ba2;
  -- Cl. M6, Downgraded to Caa2 from B1;
  -- Cl. M7, Downgraded to Ca from B2;
  -- Cl. M8, Downgraded to C from B3;
  -- Cl. M9, Downgraded to C from Ca.

Issuer: Structured Asset Securities Corp Trust 2006-S3

  -- Cl. M-1, Downgraded to A3 from A2;
  -- Cl. M-2, Downgraded to Ba1 from Baa2;
  -- Cl. M-3, Downgraded to Ba3 from Baa3;
  -- Cl. M-4, Downgraded to Caa2 from Ba2;
  -- Cl. M-5, Downgraded to Ca from B1;
  -- Cl. M-6, Downgraded to C from Ca.

Issuer: Structured Asset Securities Corporation 2006-S4

  -- Cl. M2, Downgraded to A3 from Aa2;
  -- Cl. M3, Downgraded to Baa2 from Aa2;
  -- Cl. M4, Downgraded to Baa3 from A1;
  -- Cl. M5, Downgraded to Ba3 from A2;
  -- Cl. M6, Downgraded to B1 from A3;
  -- Cl. M7, Downgraded to Caa1 from Baa1;
  -- Cl. M8, Downgraded to C from Baa2;
  -- Cl. M9, Downgraded to C from Baa3;
  -- Cl. B2, Downgraded to C from Ba2.


SUMMERDALE PARTNERS: Case Summary & 41 Largest Unsecured Creditors
------------------------------------------------------------------
Lead Debtor: Summerdale Partners, L.P.
             One Boston Place, Suite 2100
             Boston, MA 02108

Bankruptcy Case No.: 07-80460

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
        Summerdale Partners L.P., II               07-80463

Chapter 11 Petition Date: December 3, 2007

Court: Northern District of Georgia (Atlanta)

Judge: Joyce Bihary

Debtors' Counsel: Shayna M. Steinfeld, Esq.
                  Steinfeld & Steinfeld
                  P.O. Box 49446
                  Atlanta, GA 30359
                  Tel: (404) 636-7786
                  Fax: (404) 636-5486

                           Estimated Assets        Estimated Debts
                           ----------------        ---------------
Summerdale Partners, L.P.  $1 Million to           $1 Million to
                           $100 Million            $100 Million

Summerdale Partners, L.P., $1 Million to           $1 Million to
II                         $100 Million            $100 Million

A. Summerdale Partners, LP's 20 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
Boston Capital Partners Inc.   $90,000
One Boston Place
Boston, MA 02108

City of Atlanta Water          $73,317
Department
City of Atlanta
Department of Watershed
55 Trinity Avenue
Atlanta, Georgia 30303

A.A.A. Apartment Staffing      $60,905
5825 Glenridge Drive
Building 3, Suite 101
Atlanta, GA 30328

Community Management Services  $53,421

Creative Cos.                  $36,689

Boston Capital Corporate Tax   $31,025
Credit One Fund VI, A L.P.

B.&K. Global Contracting, Inc. $12,857

T.N.T. Security                $10,080

Master Contacting Inc.         $12,745

Vernia Bell                    $10,000

J.D. Home Contracting, Inc.    $7,393

Habif, Arogeti & Wayne, L.L.P. $6,450

Pipeline Servicing, L.L.D.     $3,720

C.M.S.I. Insurance Escrow      $3,280

Davila's Paint Contracting     $3,050

A.P.C.I.                       $2,718

Carpet Issues Resurfacing      $2,585

M.T. Turnkey Services          $2,250

C.S.S. Services, Inc.          $2,017

H.&B. Carpet                   $1,958

B. Summerdale Partners, LP, II's 21 Largest Unsecured Creditors:

   Entity                      Claim Amount
   ------                      ------------
Creative Companies             $65,167

Community Management Services  $61,350
5755 North Point Parkway,
Suite 67
Alpharetta, GA 30022

A.A.A. Apartment Staffing      $60,905
5825 Glenridge Drive
Building 3, Suite 101
Atlanta, GA 30328

Boston Capital Partners, Inc.  $45,000

City of Atlanta Water Dept.    $38,083

Boston Capital Tax Credit Fund $24,365
IV, L.P.

Master Contacting, Inc.        $8,400

J.D. Home Contracting, Inc.    $8,121

K. Young Contracting           $6,600

A.P.C.I.                       $6,537

Davila's Painting Contracting  $5,437

Habif, Arogeti & Wynne, L.L.P. $5,246

M.T. Turnkey Services          $3,475

C.M.S.I. Insurance Escrow      $3,365

Interior Motives, Inv.         $3,115

Seagull Floors, Inc.           $2,806

Complete Apartment Turnkey     $2,705

Wilmar                         $2,338

C.S.S. Services, Inc.          $2,218

Mudfoot Landscapes, L.L.C.     $2,200

Russell D. Mays                $2,110


SWEET TRADITIONS: Wants to Employ Ice Miller as Special Co-Counsel
------------------------------------------------------------------
Sweet Traditions LLC and Sweet Traditions of Illinois LLC ask
authority from the U.S. Bankruptcy Court for the Eastern District
of Missouri to employ Ice Miller LLP as their special co-counsel.

Before the Debtors' filing for bankruptcy, Sweet Traditions of
Illinois was a plaintiff in a lawsuit captioned Sweet Traditions
of Illinois, LLC vs. Harris Realty Inc., et al., Case No. 2006
MR001610, instituted in the Circuit Court of DuPage County
Illinois.  A judgment was entered in the DuPage Action on
June 8, 2007, and ST of Illinois filed its appeal on that judgment
a month later.  The appeal is currently pending.

The Debtors had asked the Court for permission to employ and
retain Guilfoil, Petzall & Shoemake, LLC as their special counsel
in relation to the DuPage action and appeal.  Ice Miller acted as
the local co-counsel as well for that appeal, and, pursuant to a
retention agreement between the parties, will again represent the
Debtors in the DuPage appeal.

James B. Durkin, Esq., a member at Ice Miller, tells the Court
that the firm's professionals bill:

      Designation                             Hourly Rate
      -----------                             -----------
      Attorneys                               $195 - $445
      Legal Assistants                        $120 - $235

The firm will also require a retainer of $5,000.  As of the date
of bankruptcy, the Debtors were indebted to Ice Miller for $4,455,
for legal services services rendered.

Mr. Durkin assures the Court that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the U.S.
Bankruptcy Code.

Mr. Durkin can be contacted at:

      James B. Durkin, Esq.
      Ice Miller LLP
      2300 Cabot Drive
      Suite 455
      Lisle, IL 60532
      Tel: (630) 955-0555
      Fax: (630) 955-0662
      http://www.icemiller.com/

                      About Sweet Traditions

Saint Louis, Missouri-based Sweet Traditions LLC --
http://www.sweettraditions.com/-- and its debtor-affiliate, Sweet
Traditions of Illinois LLC, are franchisees of Krispy Kreme
Doughnuts, Inc, which owns, operates and franchises specialty
retail stores offering doughnuts.

The Debtors filed for Chapter 11 bankruptcy protection on Sept. 4,
2007 (E.D. Missouri Case Nos. 07-45787 and 07-45789).  David A.
Warfield, Esq. and Laura Toledo, Esq. at Blackwell Sanders, L.L.P.
represent the Debtors in their restructuring efforts.  Jonathan
Margolies, Esq. at Shughart Thomson & Kilroy, P.C., is counsel to
the Debtors' Official Joint Committee of Unsecured Creditors.  The
Debtors' schedules disclose total assets of $9,391,175 and total
liabilities of $51,552,132.


TERWIN MORTGAGE: Moody's Puts Seven Cert. Classes Under Review
--------------------------------------------------------------
Moody's Investors Service has downgraded 41 certificates and
placed on review for possible downgrade 7 certificates from seven
transactions issued by Terwin Mortgage Trust.  All transactions
are backed by second lien loans.  The certificates were downgraded
or placed on review for possible downgrade because the bonds'
credit enhancement levels, including excess spread and
subordination, were too low compared to the current projected loss
numbers at the previous rating levels.

Substantial pool losses of over the last few months have continued
to erode credit enhancement available to the mezzanine and senior
certificates. Despite the large amount of write-offs due to
losses, delinquency pipelines have remained high as borrowers
continue to default.  The actions reflect Moody's expectation that
the significant delinquency pipelines will have a further negative
impact on the credit support for the senior and mezzanine
certificates.

Complete rating actions are:

Issuer: Terwin Mortgage Trust 2006-1

Cl. II-G, Placed on Review for Possible Downgrade, currently Aaa;

  -- Cl. II-M-1, Downgraded to Baa2 from A2;
  -- Cl. II-M-2, Downgraded to Ba1 from Baa1;
  -- Cl. II-M-3, Downgraded to Caa2 from Ba2;
  -- Cl. II-B-1, Downgraded to Ca from B1;
  -- Cl. II-B-2, Downgraded to C from Caa1;
  -- Cl. II-B-3, Downgraded to C from Ca.

Issuer: Terwin Mortgage Trust 2006-6

  -- Cl. I-G, Placed on Review for Possible Downgrade,
     currently Aaa;
  -- Cl. I-M-1, Downgraded to Ba1 from A3;
  -- Cl. I-M-2, Downgraded to Ba3 from Baa1;
  -- Cl. I-M-3, Downgraded to Caa1 from Ba1;
  -- Cl. I-B-1, Downgraded to Caa3 from Ba3;
  -- Cl. I-B-2, Downgraded to Ca from B1;
  -- Cl. I-B-3, Downgraded to C from B3;
  -- Cl. I-B-4, Downgraded to C from Ca.

Issuer: Terwin Mortgage Trust 2006-8

  -- Cl. I-G, Placed on Review for Possible Downgrade,
     currently Aaa;
  -- Cl. I-M-1, Downgraded to Ba1 from A3;
  -- Cl. I-M-2, Downgraded to Ba3 from Baa1;
  -- Cl. I-M-3, Downgraded to Caa2 from Baa3;
  -- Cl. I-B-1, Downgraded to C from Ba1;
  -- Cl. I-B-2, Downgraded to C from Ba3;
  -- Cl. I-B-3, Downgraded to C from Caa2.

Issuer: Terwin Mortgage Trust 2006-2HGS

  -- Cl. G, Placed on Review for Possible Downgrade, currently
     Aaa;
  -- Cl. M-1, Downgraded to Baa2 from A3;
  -- Cl. M-2, Downgraded to Ba1 from Baa1;
  -- Cl. M-3, Downgraded to Caa1 from Ba1;
  -- Cl. B-1, Downgraded to C from Ba2;
  -- Cl. B-2, Downgraded to C from B3.

Issuer: Terwin Mortgage Trust 2006-4SL

  -- Cl. G, Placed on Review for Possible Downgrade, currently
     Aaa;
  -- Cl. M-1, Downgraded to Baa3 from A2;
  -- Cl. M-2, Downgraded to Ba3 from Baa1;
  -- Cl. M-3, Downgraded to Caa1 from Ba1;
  -- Cl. B-1, Downgraded to Caa3 from Ba2;
  -- Cl. B-2, Downgraded to C from B2;
  -- Cl. B-3, Downgraded to C from Ca.

Issuer: Terwin Mortgage Trust 2006-10SL

  -- Cl. G, Placed on Review for Possible Downgrade, currently
     Aaa;
  -- Cl. M-1, Downgraded to Ba3 from Baa1;
  -- Cl. M-2, Downgraded to B2 from Baa2;
  -- Cl. M-3, Downgraded to Caa3 from Ba1;
  -- Cl. B-1, Downgraded to C from Ba2;
  -- Cl. B-2, Downgraded to C from Caa1;
  -- Cl. B-3, Downgraded to C from Ca.

Issuer: Terwin Mortgage Trust 2006-12SL

  -- Cl. G, Placed on Review for Possible Downgrade, currently
     Aaa;
  -- Cl. M-1, Downgraded to B1 from Baa1;
  -- Cl. M-2, Downgraded to Caa3 from Baa2;
  -- Cl. M-3, Downgraded to C from Ba1;
  -- Cl. B-1, Downgraded to C from Ba3;
  -- Cl. B-2, Downgraded to C from Ca.


TIAA CMBS: Fitch Affirms Low-B Ratings on Three Cert. Classes
-------------------------------------------------------------
Fitch Ratings upgrades TIAA CMBS I Trust's commercial mortgage
pass-through certificates, series 2001-C1, as:

  -- $33 million class H to 'AA+' from 'AA"';
  -- $14.7 million class J to 'A+' from 'A';
  -- $11 million class K to 'BBB+' from 'BBB' .

In addition, Fitch affirms these classes:

  -- $30.3 million class A-2 at 'AAA';
  -- $60.7 million class A-3 at 'AAA';
  -- $400 million class A-4 at 'AAA';
  -- Interest only class X at 'AAA';
  -- $58.6 million class B at 'AAA';
  -- $51.3 million class C at 'AAA';
  -- $22 million class D at 'AAA';
  -- $14.7 million class E at 'AAA';
  -- $18.3 million class F at 'AAA'.
  -- $14.7 million class G at 'AAA';
  -- $14.7 million class L at 'BB';
  -- $7.3 million class M at 'B+';
  -- $7.3 million class N at 'B'.

Fitch does not rate the $17.5 million class O.  Classes A-1 and A-
5 have been paid in full.

The upgrades reflect increased credit enhancement levels due to
additional defeasance of two loans (4.8%), loan payoffs and
scheduled amortization since Fitch's last rating action.  As of
the November 2007 distribution date, the pool's aggregate
certificate balance has decreased 46.9%, to $777.4 million from
$1.465 billion at issuance.  Of the original 252 loans, 151 remain
outstanding in the pool.  To date, 34 loans (38.8%) have defeased.
The Weighted Average Coupon of the remaining loans is 7.23%.
Twelve non-defeased loans in the pool (10.9%) are scheduled to
mature in 2008.

Currently there is one loan in special servicing (0.5%), secured
by a 151,096 square feet shopping center in Louisville, Kentucky,
with Walmart as the major tenant.  The loan was transferred to the
special sevicer after the borrower razed parts of the collateral
property without consent of the lender.  The borrower is in the
process of negotiating with Walmart for the purchase of the
property.  Fitch does not expect losses on this loan.

The pool's property type concentrations include retail (24.4%),
multifamily (13.2%), industrial (13%), office (6.3%) and
healthcare (3.6%).  Geographic concentrations include California
(13.1%), New York (7%), New Jersey (5.7%), and Massachusetts
(4.6%).


TM GROUP: Case Summary & Largest Unsecured Creditor
---------------------------------------------------
Lead Debtor: T M Group, LLC
             312 Kesler Mill Road
             Salem, VA 24153

Bankruptcy Case No.: 07-71925

Type of Business: The Debtor is a single asset
                  real estate.

Chapter 11 Petition Date: Dec. 4, 2007

Court: Western District of Virginia (Roanoke)

Debtor's Counsel: Shreen N. Mahmoud, Esq.
                  Harry Jernigan CPA Attorney, P.C.
                  3130 Chaparral Dr., Suite 102
                  Roanoke, VA 24018
                  Tel: (540) 777-1023
                  Fax: (757) 490-0280
                  http://www.hjlaw.com/

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

Debtor's XX Largest Unsecured Creditors:

   Entity                                            Claim Amount
   ------                                            ------------

City of Salem                                           $20,000
P.O. Box 869
114 N. Broad St.
Salem, VA 24153


TRANSLAND FIN'L: Two Banks Seek Dismissal of Involuntary Case
-------------------------------------------------------------
TierOne Bank and MidCountry Bank ask the U.S. Bankruptcy
Court for the Middle District of Florida to dismiss the
involuntary chapter 11 case they filed against Transland
Financial Services Inc. to allow an out-of-court settlement,
Bill Rochelle of Bloomberg News reports.

The settlement, Bloomberg says, calls for liquidating the
loans in which the banks hold security interests along with
the Debtor's other assets.

In a report published in the Troubled Company Reporter on
Oct. 17, 2007, Bloomberg said Robert E. Lynch, the examiner
appointed in Transland's bankruptcy case, issued a report
stating that the Debtor misused $27.4 million of funds.

According to Bloomberg, the examiner's report explained
how the Debtor put money in its operating account that
should have gone to the bank lenders when borrowers made
payments on loans.

Additionally, Bloomberg said, the examiner found that the
Debtor had cash flow problems since 2004.

Headquartered in Maitland, Florida, Transland Financial Services,
Inc. -- See http://www.transland.com/-- is a full service
mortgage lender.  On Aug. 23, 2007, three creditors, TierOne
Bank, Federal Trust Bank, and MidCountry Bank, filed an
involuntary chapter 11 petition against the company (Bankr. M.D.
Fla. Case No. 07-03834).  The creditors say they are collectively
owed in excess of $22 million by Transland.  Lynn James Hinson,
Esq., at Dean Mead Egerton, represents Tier One Bank.  Jeffry R
Jontz, Esq., at Swann & Hadley PA represents Federal Trust.
Esther A. McKean, Esq., at Akerman Senterfitt represents MidCounty
Bank.  Roy S. Kobert, Esq., at Broad and Cassel, represents
Transland.


UNISYS CORP: Fitch Rates Proposed $250MM Debt Offering at BB-
-------------------------------------------------------------
Fitch Ratings has assigned a 'BB-' rating to Unisys Corp. proposed
$250 million senior unsecured debt offering due 2016.  Proceeds
from the offering are expected to be used to repay the $200
million of 7.875% senior notes due April 2008 and for general
corporate purposes.

Fitch currently rates Unisys as:

  -- Issuer Default Rating at 'BB-';
  -- Secured credit facility at 'BB+';
  -- Senior unsecured debt at 'BB-'.

The Rating Outlook remains Negative, although liquidity will be
enhanced by a successful offering of the aforementioned notes
since it improves the company's maturity schedule and enables
Unisys to avoid the termination of its $275 million secured credit
facility without requesting a bank waiver.

Rating stabilization could occur if Unisys':
  -- Operating profit margins continue to expand, particularly
     for the Services segment (3.7% excluding retirement-
     related expense for the year ended Sept. 30, 2007), which
     accounts for 86% of total revenue;
  -- Multi-year restructuring and repositioning efforts are
     successfully executed, leading to sustainable free cash
     flow generation;
  -- Services business contributes the vast majority of total
     Segment operating profit, including pension expense, due
     to profit margin expansion, given the continued secular
     decline of high margin ClearPath mainframes.

Fitch may downgrade the rating if Unisys':
  -- Announces further material restructuring actions that
     require significant cash restructuring payments similar in
     scope to the current restructuring program.  Fitch
     believes additional relatively minor restructuring charges
     are possible for facility consolidations and/or minor
     headcount reductions that will be funded with operating
     cash flow; or
  -- Financial performance, especially free cash flow, fails to
     improve as expected or deteriorates.

The ratings and Negative Rating Outlook continue to reflect:
  -- Weak revenue performance primarily due to restructuring-
     related disruptions to the consulting and systems
     integration business and continued declines in ClearPath
     revenue and associated maintenance revenue;
  -- Difficulties expanding operating profit margins as the
     company withdrew its target of 8%-10% for 2008, and
     revenue growth in a very competitive information
     technology services marketplace;
  -- Improving, but weak earnings and continued negative free
     cash flow;
  -- Uncertain macro-economic outlook could reduce
     discretionary IT spending for consulting and systems
     integration engagements, which accounts for 31% of Unisys'
     Services revenue and 27% of total revenue;
  -- Significant ongoing restructuring; and
  -- Pressured sales for high-margin ClearPath mainframes due
     to server mix shift to lower margin, industry-standard
     servers;

The ratings continue to be supported by Unisys':
  -- Gradually improving credit protection measures driven by
     operating profit margin expansion;
  -- Long-term services contracts with recurring revenue base;
  -- Established expertise in targeted vertical end-markets;
     and
  -- Geographic and industry diversity of revenue base.

Fitch believes Unisys has adequate liquidity to satisfy operating
requirements and remaining cash severance obligations.  As of
Sept. 30, 2007, total liquidity was approximately $880 million,
consisting of $449 million of cash and approximately $231 million
of availability under its $275 million credit facility, net of
$44 million of outstanding letters of credit.  Additional
liquidity is provided by a $300 million accounts receivable
securitization facility with remaining availability of
$200 million as of Sept. 30, 2007, assuming the availability of
sufficient eligible receivables.  The A/R securitization program
is renewable annually at the purchasers' option until November
2008 and is terminable by the purchasers if Unisys' debt rating
declines below 'B'.  In November 2007, the program's annual
renewal date was extended to Dec. 28, 2007 and the company is
currently in discussions with the purchasers to re0new the
receivables facility.

Fitch remains concerned with Unisys' lack of free cash flow, which
has been negative since 2004 on a rolling trailing 12-month basis.
Although free cash flow remains negative, Fitch estimates the
amount of negative free cash flow has moderated to negative $29
million in the latest 12 months ended Sept. 30, 2007 from negative
$165 million in the year-ago period, excluding cash restructuring
payments, a tax refund, royalties from Nihon Unisys Limited, and
declining usage of the company's accounts receivable
securitization.  Lastly, Fitch expects free cash flow to improve
sequentially in the seasonally strong fourth quarter and in 2008
due primarily to operating margin expansion and a significant
decline in cash restructuring payments.

Pro-forma for the aforementioned proposed debt offering, total
debt is approximately $1.1 billion, consisting primarily of:
$250 million of senior unsecured notes due 2016; $400 million of
senior unsecured notes due October 2012; $300 million due March
2010; $150 million due October 2015.

As of Sept. 30, 2007, Unisys' leverage decreased to approximately
2.1 times from 4.5x in 2006 and 7.1x in 2005.  Interest coverage
increased to 6.9x for the LTM ended Sept. 30, 2007 from 4.6x in
2006 and 2.7x in 2005.  However, interest coverage will initially
decline following the proposed debt offering due to a $50 million
net increase in debt and a higher interest rate relative to the
7.875% notes that will be repaid with the proceeds of the
offering.


UNISYS CORP: Moody's Rates $250MM Sr. Unsecured Notes at B2
-----------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Unisys' current
offering of $250 million senior unsecured notes.  The rating for
these new notes as well as the ratings for company's corporate
family rating and outstanding notes are on review for possible
downgrade.  The review, initiated on Aug. 20, 2007, was prompted
by the company's slower than anticipated improvement in
profitability and its weak liquidity.  The review for possible
downgrade will continue to focus on Unisys' prospects for
maintaining sufficient available liquidity while meeting near-term
refinancing needs, including the refinancing of its $200 million 7
7/8% senior notes due April 2008 with the proceeds of the current
offering.  Upon the completion of the current offering and
application of the proceeds to redeem, at par, its $200 million 7
7/8% senior notes due April 2008 as planned, Moody's will likely
confirm the company's ratings and assign a negative rating
outlook.

The B2 senior unsecured rating for the $250 million notes is
supported by the company's geographic business diversity, which
mitigates its exposure to a business downturn within the U.S.
financial institutions sector.  The rating is also supported by
the company's declining, but sizable, cash balances and improving
overall liquidity.  The rating is constrained by the company's
modestly sized offshore services workforce and computing hardware
franchise relative to much larger competitors with greater
financial resources, its high financial leverage as measured by
low free cash flow to debt, and a trend of increasing offshore
competition within the commercial I/T services sector, which
exposes Unisys to further cash restructuring costs.

Rating assigned and placed under review for possible downgrade:
  -- $250 million proposed senior unsecured notes rated - B2
  -- Ratings on review for possible downgrade are:
  -- $200 million 7.875% senior unsecured notes due 2008 - B2
  -- $300 million 6.875% senior unsecured notes due 2010 - B2
  -- $400 million 8% senior unsecured notes due 2012 - B2
  -- $150 million 8.5% senior unsecured notes due 2015 - B2
  -- Corporate Family Rating - B2
  -- Probability Default Rating - B2

Headquartered in Blue Bell, Pennsylvania, Unisys Corporation
provides I/T services and technology hardware to commercial and
governmental clients worldwide.


WASH BUCKET: Case Summary & 18 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: The Wash Bucket Family Car Care Center, Inc.
        dba The Wash Bucket
        4227 Buford Drive
        Buford, GA 30518

Bankruptcy Case No.: 07-80530

Type of Business: The Debtor operates car wash services.

Chapter 11 Petition Date: December 4, 2007

Court: Northern District of Georgia (Atlanta)

Judge: C. Ray Mullins

Debtor's Counsel: A. Alexander Teel, Esq.
                  Lamberth, Cifelli, Stokes & Stout, PA
                  East Tower, Suite 550
                  3343 Peachtree Road, Northeast
                  Atlanta, GA 30326-1022
                  Tel: (404) 262-7373

Estimated Assets: $1 Million to $10 Million

Estimated Debts:  $1 Million to $10 Million

Debtor's list of its 18 Largest Unsecured Creditors:

   Entity                        Nature of Claim   Claim Amount
   ------                        ---------------   ------------
Bank of America                  Business credit         $8,310
P.O. Box 15710                   card
Wilmington, DE 19886

EcoLab, Inc.                     Business vendor         $6,501
4775 South Butterfield Drive
#175
Tucson, AZ 85714

Robert Bosch                     Business vendor         $2,742
4800 Corporation Drive
Fayetteville, NC 28306

Cintas                           Business vendor         $1,643

Right Choice                     Business vendor         $1,558

Atlanta Detail Supply            Business vendor           $747

Acct. Basn Center                Business vendor           $600

Professional Office Service      Business vendor           $509

Advanced Auto                    Business vendor           $479

Auto Zone                        Business vendor           $430

Richardson Security              Business vendor           $387

Western Environmental            Business vendor           $350

Community Coffee                 Business vendor           $307

Superior Auto                    Business vendor           $194

Ace                              Business vendor           $100

Telechem                         Business vendor            $90

Georgia Chemical Company         Business vendor            $50

Environmental Systems Products   Business vendor            $32


WATERFORD EQUITIES: Case Summary & 50 Largest Unsecured Creditors
-----------------------------------------------------------------
Lead Debtor: Waterford Equities, L.L.C.
             245 Long Hill Road
             Middletown, CT 06457

Bankruptcy Case No.: 07-32719

Debtor-affiliates filing separate Chapter 11 petitions on
December 3, 2007:

        Entity                                     Case No.
        ------                                     --------
        Haven Eldercare of New England, L.L.C.     07-32870
        Haven Health Center Common Paymaster,      07-32873
        L.L.C.

Debtor-affiliates filing separate Chapter 11 petitions:

        Entity                                     Case No.
        ------                                     --------
        Waterford Equities, L.L.C.                 07-32719
        Haven Eldercare, L.L.C.                    07-32720
        Haven Health Care Center of Windham,       07-32721
        L.L.C.
        Haven Healthcare Management, L.L.C.        07-32722
        Haven Health Center of Cromwell, L.L.C.    07-32723
        Haven Health Center of Rocky Hill, L.L.C.  07-32724
        Haven Health Center of Danielson, L.L.C.   07-32725
        Haven Health Center of Litchfield Hills,   07-32726
        L.L.C.
        Haven Health Center of East Hartford,      07-32727
        L.L.C.
        Haven Health Center of Jewett City,        07-32728
        L.L.C.
        Haven Health Center, Soundview L.L.C.      07-32729
        Haven Health Center of New Haven, L.L.C.   07-32730
        Haven Health Center of West Hartford,      07-32731
        L.L.C.
        Haven Health Center of Farmington, L.L.C.  07-32732
        Haven Health Center of Norwich, L.L.C.     07-32733
        Haven Health Center of Waterbury, L.L.C.   07-32734
        Haven Health Center of South Windsor,      07-32735
        L.L.C.
        Haven Health Center of Waterford, L.L.C.   07-32736
        Haven Health Center of Rutland, L.L.C.     07-32740
        Lighthouse Medical Supply, L.L.C.          07-32741
        Haven Health Center of St. Albans, L.L.C.  07-32742
        Haven Health Care Trust II, L.L.C.         07-32743
        Cromwell Crest Convalescent Home, Inc.     07-32744
        Applegate Lane, Inc.                       07-32745
        Haven Health Center of Claremont, L.L.C.   07-32746
        Litchfield Health Care Trust, L.L.C.       07-32747
        Haven Health Care Center of Warren, L.L.C. 07-32748
        Ferretti's Nursing Home, Inc.              07-32749
        Haven Equities of Warren, Rhode Island,    07-32750
        L.L.C.
        Haven Health Center of Pawtucket, L.L.C.   07-32751
        Pawtucket Equities, L.L.C.                 07-32752
        Haven Health Center of Derry, L.L.C.       07-32753
        Haven Health Center of Greenville, L.L.C.  07-32754
        Haven Eldercare of New Hampshire, L.L.C.   07-32755
        Haven Eldercare II, L.L.C.                 07-32756
        Greenville Equities, L.L.C.                07-32757
        Hampton Equities , L.L.C.                  07-32758
        Haven Health Center at Seacoast, L.L.C.    07-32759
        Haven Health Center of Coventry, L.L.C.    07-32760
        Chelsea Equities, L.L.C.                   07-32761
        Coventry Equities, L.L.C.                  07-32762
        Haven Health Center of Chelsea, L.L.C.     07-32763

Type of Business: The Debtors provide nursing care to the elderly
                  in New England, Connecticut.  They operate
                  health centers and assisted living facilities.
                  They specialize in short-term rehabilitative
                  care and long-term care.  See
                  http://www.havenhealthcare.com/

Chapter 11 Petition Date: November 20, 2007

Court: District of Connecticut (New Haven)

Judge: Albert S. Dabrowski

Debtors' Counsel: Robert S. Hoff, Esq.
                  Wiggin & Dana
                  400 Atlantic Street, 7th Floor
                  Stamford, CT 06911
                  Tel: (203) 363-7626
                  Fax: (203) 363-7676
                     --and--
                  Sharyn B. Zuch, Esq.
                  Wiggin & Dana
                  One CityPlace, 34th Floor
                  185 Asylum Street
                  Hartford, CT 06103-3715
                  Tel: (860) 297-3715
                  Fax: (860) 525-9380

Debtors' Estimated Assets: $1 Million to $100 Million

Debtors' Estimated Debts:  $1 Million to $100 Million

Debtors' Consolidated List of 50 Largest Unsecured Creditors:

   Entity                      Nature of Claim       Claim Amount
   ------                      ---------------       ------------
Omnicare Value Health Care     trade debt            $13,710,301
Attention: Richard T. Richow,
Director
National Credit & Collections
Omnicare, Inc.
1600 RiverCenter II
100 East RiverCenter
Boulevard, Suite 1500
Covington, KY 41011
Tel: (859) 392-3495
Fax: (859) 392-3330

Medventures Consulting,        consultant            $1,817,641
L.L.C.
Attention: Jim Allen
1349 Southwest 80th Avenue
Bell, FL 32619
Tel: (203) 772-4134

McKeeson Medical Co.           trade debt            $1,646,605
Supply
Attention: Don Trull
Director, Credit &
Collections
McKeeson Medical and Surgical
8741 Landmark Road
Richmond, VA 23228
Tel: (804) 553-2247
Fax: (804) 264-7540

Tax Administrator-Provider     tax                   $1,392,170
Tax
Attention: Eileen Hall,
Collections Manager
State of Rhode Island
One Capitol Hill
Providence, RI 02908
Tel: (401) 222-3195
Fax: (401) 222-3145

State of Vermont-Path          tax                   $1,315,470
Attention: Mr. John Dick
P.O. Box 888
312 Hurricane Lane
Williston, VT 05495-0888
Tel: (802) 879-5937

P.F.G.                         P.F.G. Note and       $1,018,775
Attention: Shane J. Gebo       invoices
Multi-Unit Sales Manager
P.F.G.-Springfield
340 Taylor Street
P.O. Box 3024
Springfield, MA 01101
Tel: (413) 846-5465
Fax: (413) 272-1602

Anthem                         self-insured health   $1,009,351
Attention: Ed Kask             claims
Tel: (203) 985-7496
Fax: (860) 655-9447

C.I.T. Carroll Hospital        note for bed lease    $667,724
Lease
Attention: Archie Leach
Carroll Hospital Group
825 Bradley Avenue
London, Ontario
Canada N63 3C2
Tel: (519) 963-4010
Fax: (519) 963-4013

Commissioner of Revenue        sales tax audit       $585,688
Services                       through various
Attention: Ronald Dirienzo     2005 dates dispute
Tax Division Assistant Chief   interest and penalty
State of Connecticut           of $250,000
Department of Revenue
Services
25 Siguourney Street
Hartford, CT 06106-5032

N.E.H.C. Pension Fund          Union 1199            $530,708
Attention: Robert Tessier      Pension
Executive Director
1199 New England Healthcare
77 Huyshope Avenue
Hartford, CT 06106-7001
Tel: (860) 728-1100
Fax: (860) 947-8080

C.I.&P.                        utilities-electric    $419,457
Attention: Susan Hissong
Collections Manager
Connecticut Light & Power
1985 Blue Hills Avenue
Extension
Windsor Locks, CT 06095
Tel: (860) 607-4627

Health Care Services           trade debt            $413,603
Collections Manager
Health Care Services Group
3220 Tillman Drive
Glenview Corp. Center
Bensalem, PA 19020

First Insurance Funding        insurance             $373,858
Attention: Mark C. Lucas
Senior V.P. Loan Collections
First Insurance Funding
8075 Innovation Way
Chicago, IL 60682
Tel: (800) 837-3707-4982
Fax: (847) 509-7112

Fire Protection Testing        trade debt            $370,619
Attention: Robert Babcock
Manager, F.P.T.
1701 Highland Avenue,
Suite 4
Cheshire, CT 06410
Tel: (203) 250-1115

Gulf South Medical Supply      medical supplies      $302,280
Attention: Billy Williams
V.P. Sales
Gulf South Medical Supply
4345 Southpoint Boulevard
Jacksonville, Florida 32216
Tel: (775) 854-9381

Zurich American Insurance      insurance             $274,573
Co. of Illinois
Attention: Howard R. Heilweil
Customer Service Executive
Zurich Global Corporate,
North American
60 State Street
Suite 600
Boston, MA 02109
Tel: (617) 570-8974
Fax: (404) 805-2246

Connecticut Natural Gas        utilities-heat        $260,000
Attention: Juliete Morle
Credit Services
The Connecticut Natural
Gas Corp.
P.O. Box 1500
Hartford, CT 06144-1500
Tel: (860) 727-3000

Genter Healthcare, Inc.        trade debt            $250,263
Attention: Dennis Genter,
President
Genter Healthcare
28 Ridgewood Commons
Wilmot, New Hampshire 03287
Tel: (603) 526-6559

Direct Supply                  trade debt            $237,235

Nstar Electric                 utilities-electric    $236,500

Hudson Home Health Care        trade debt            $236,258

Lawn Tailors                   trade debt            $230,202

Triple A Supplies, Inc.        trade debt            $216,085

National Grid #64712           utilities-electric    $215,042
21660 26

William Backus Hospital        ancillary medical     $213,130
                               services

N.E.H.C. Welfare Fund          union claim           $204,237

Guardian                       insurance             $173,891

Microsoft Licensing, G.P.      licensing             $162,590

Staples                        trade debt            $162,457

Complete Waste Removal         trade debt            $160,291

W.B. Mason Co., Inc.           trade debt            $154,253

Metro District Water           utilities-water       $138,828

Holland & Knight Attorney      legal fees            $135,000

Ufcwlocal 371 Welfare          union claim           $134,700

Guida Selbert Dairy Co.        trade debt            $129,914

H.&E. Enterprise               fire sprinklers       $126,700
                               and construction

Care Realty Group              settlement of care    $125,000
                               health bridge
                               facilities

R. Thomas Crovo                tax claim             $121,042

Heidell, Pittoni, Murphy &     legal fees            $108,590
Bach, L.L.P.

New England Gas                utilities-gas         $106,378

New England Mobil X-Ray        X-rays                $101,334

Therapeutic Dimensions         trade rentals         $98,174
Northeast, Inc.

Collaborative Lab Services     labs                  $89,316

C.T. Mobile Diagnostics,       X-rays                $88,013
L.L.C.

Path Lab, Inc.                 labs                  $84,514

Yankee Gas Account             utilities-gas         $82,102

Tax Collector-South Windsor    tax                   $82,001

City of Chelsea #153501/       utilities-water       $80,396
Water-Sewer                    and sewer

Hill-Rom                       trade debt            $79,129

American Medical Response      trade debt            $78,268


WILLIAM MILLS: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------------
Lead Debtor: William C. Mills
             5339 W. Brackin Ranch Rd.
             Flagstaff, AZ 86001

             -- and --

             Kimberly M. Mills
             3480 W. Corral Gate
             Flagstaff, AZ 86001

Bankruptcy Case No.: 07-06511

Chapter 11 Petition Date: December 3, 2007

Court: District of Arizona (Phoenix)

Debtor's Counsel: Michael Reddig, Esq.
                  Reddig Law Office
                  P.O. Box 22143
                  Flagstaff, AZ 86002
                  Tel: (928) 774-9544
                  Fax: (928) 774-2043
                  http://www.theriver.com/

Estimated Assets: $1 million to $100 million

Estimated Debts: $1 million to $100 million

Debtor's 16 Largest Unsecured Creditors:

   Entity                   Nature of Claim         Claim Amount
   ------                   ---------------         ------------

Antonio Cardona             real property              $60,000
2323 S. Quail Run Rd.
Cottonwood, AZ 86326

Chase Manhattan             2005 exursion; value       $33,103
Chase Home Finance/         of security: $30,000
Bankruptcy Research
3415 Vision Dr.
Columbus, OH 43219

Bank of America             credit card                $26,041
P.O. Box 26012
Nc4-105-03-14
Greensboro, NC 27420

                            credit                      $9,151

Flagstaff Ranch Golf Club                              $17,823
Club

Hsbc/polrs                  charge account             $17,325

Retail Svcs/ HSBC           value of                   $17,325
                            security: $6,000

Encore Rcvbles              collections                 $7,927

Home Depot                  credit                      $7,758

Wells Fargo                 credit card                 $7,330

Arizona Home Centers        real property               $3,665

Ford Motor Credit           leased Ford truck           $3,454

National Bank of Arizona    credit                      $2,396

Capital One                 credit                      $1,482

Labor Systems                                             $988

First State Bank            secured                       $939

Spring Hill Press LLC       advertising                   $850


WORKFLOW MANAGEMENT: Moody's Places Ratings Under Review
--------------------------------------------------------
Moody's Investors Service has placed its ratings for Workflow
Management, Inc. under review for possible downgrade. Details of
the rating action are:

Ratings placed under review for possible downgrade:
  -- Senior secured first lien revolving credit facility, due
     2010
  -- Senior secured first lien term loan facility, due 2011
  -- Senior secured second lien term loan facility, due 2011
  -- Corporate Family rating
  -- Probability of Default rating

The review for possible downgrade reflects the company's
underperformance relative to expectations and Moody's heightened
concerns regarding Workflow's squeezed liquidity profile and the
likelihood that it will fail to meet the materially stepped-down
financial maintenance covenants under its senior secured credit
agreement, coupled with the uncertainty related to management's
ability to waive and/or amend the terms of this facility given
tight credit market conditions and the ensuing elevated risk of
default in the absence thereof.

The review will assess the probability that lenders will grant
Workflow covenant relief under its total leverage covenant prior
to the scheduled tightening of this test at the end of March 2008.
In addition, the review will consider whether Workflow will
succeed in revitalizing its weakened top line, replacing sizeable
contract losses, reversing year-to-date free cash flow losses and
managing its debt service requirements in the face of increased
requisite term loan amortization payments in 2008.

Headquartered in New York, NY, Workflow Management, Inc. sources
and distributes a full range of business print and envelope
related documents and services.  For the LTM period ended
September 30, 2007, the company reported sales of approximately
$938 million.


* Debtwire and Guiliani See Credit Decline Will Continue to 2008
----------------------------------------------------------------
The Distressed Debt Creditor Insight survey predicts that the
current market "correction" will lead to a longer-term market
decline.  More than 85% of respondents expressed concern for the
ability of borrowers to refinance maturing LBO debt, and two-
thirds believe that US GDP growth will slow next year.  More than
90% surveyed expect mortgage default-related fund liquidations to
intensify, and many participants make it clear that the CLO market
is withering on the vine.

"The participants in this survey are industry leaders focused on a
broad range of leveraged finance, high yield and distressed debt
situations," said Matt Wirz, the Editor-in-Chief of Debtwire.  "It
is clear that the industry believes that the current market
'correction' is fast turning into a longer-term negative trend."

"One investor's leveraged finance problem is another investor's
leveraged finance opportunity," said Evan Flaschen, Chair of the
Financial Restructuring Group of law firm Bracewell & Giuliani
LLP, adding that "The Survey respondents are in the markets every
day evaluating today's finance and investment opportunities and
analyzing the potential distressed debt opportunities of tomorrow.

For them, the over-leveraged, wildly optimistic financings of the
mid-2000s are turning into a 2008 bull market for distressed debt
investing opportunities."

The full survey is available for free at http//www.debtwire.com.

                         About Debtwire

Debtwire -- http://www.debtwire.com/-- publishes real-time news
and data for financial professionals in the distressed debt and
leveraged finance markets across the world. Debtwire is part of
the Mergermarket Group which has over 400 employees worldwide and
regional head offices in New York, London and Hong Kong.

The Mergermarket Group -- http://www.mergermarket.com/is a
division of the Financial Times Group, publisher of the Financial
Times newspaper, FT.com, Expansion and FT Deutschland.  The FT
Group is a division of Pearson plc, the international media group.

                   About Bracewell & Giuliani

Headquartered in New York, Bracewell & Giuliani LLP --
http://www.bgllp.com/--is among the world's most prominent
law firms with 400 lawyers in New York, Connecticut, Texas,
Washington, D.C., Dubai, Kazakhstan and London, we are well
positioned to serve clients concentrated in the energy and
financial services sectors worldwide.

In 2005, former New York City Mayor, Rudolph W. Giuliani,
joined the firm as a senior partner.  Mr. Giuliani's international
reputation for leadership and problem solving is a unique asset
for the firm's clients, which include Fortune 500 companies,
major financial institutions, leading private investment funds,
governmental entities and individuals.


* Fitch Says 2008 Wireless Industry Will Be Similar to 2007
-----------------------------------------------------------
Fitch Ratings expects the 2008 operating environment for the North
American wireless industry will be similar to that of 2007, with
competitive market conditions on higher-priced, feature-rich 3G
handsets.  This will likely result in higher subsidy costs for
operators.

Fitch views core wireless services as fairly recession-resistant,
given the subscription-oriented nature and the necessity for
wireless services, particularly as more consumers have cut the
cord.  If broader economic trends continue to weaken as expected
in 2008, materially affecting the economy, consumers could become
more price sensitive, which would further dampen postpaid
subscriber growth, slow the uptake for additional data services
and pressure ARPU.

Fitch currently expects aggregate gross additions in 2008 will be
comparable to 2007 levels, within a range of 67 million to 68
million for the top-six wireless operators.  However, the mix of
prepaid subscribers will continue to increase likely to at least
35% of gross additions.  The growing presence of prepaid
subscribers will put modest upward pressure on the churn rate for
the industry although postpaid rates should continue to fall.  As
a result, Fitch believes that wireless revenue and EBITDA growth
will be high single digits in 2008 compared to low double-digits
in 2007.

During Q3 2007, total ARPU increased slightly to $52.70, marking
the third quarter in a row with a positive year-over-year
comparison.  While voice ARPU declined in excess of 4%, to $44.40,
data ARPU increased by over 40%, to $8.30.  With solid growth in
subscribers, total data revenue for the third quarter was $6
billion, a 54% increase from a year ago, driven mainly by a
substantial increase in messaging services.  Strong data revenue
growth remains paramount to the stability of ARPU for the wireless
industry.


* Fitch Says Auto Suppliers Will Face The Same Stresses in 2008
---------------------------------------------------------------
U.S. auto suppliers will face the same set of stresses in 2008
that have caused severe financial and operational deterioration
over the past several years, including the bankruptcies of a
number of Tier 1 suppliers, declining volumes from the Detroit
Three, continuing pricedowns, high commodity prices, excess cost-
disadvantaged U.S. capacity and resulting restructuring actions,
and higher interest costs associated with higher debt levels.
Adding to these woes is the expectation of slower economic growth
in the U.S. and the resulting impact on industry sales volumes.
Fitch projects that light vehicle sales in the U.S. will fall
approximately 3% in 2008, to 15.6 million units, with the Detroit
Three bearing the brunt of industry sales declines.

The recent UAW contract with the Detroit Three could also
exacerbate the impact of an economic downturn on suppliers by
giving manufacturers greater flexibility to reduce production when
faced with declining demand.  This could result in greater
cyclicality than has been seen recently, where inflexible cost
structures resulted in higher incentives to prop up demand. Event
risk has been reduced, given the new UAW contract, but more severe
industry cycles could rapidly undo some of the progress toward
stabilization within the sector that was made in 2007.

Industry Structure:

Despite industry-wide pressures, operating and financial
performance among the suppliers diverged in 2007.  Companies with
strong balance sheets, a diversified operating profile, or
technology-driven products (Johnson Controls, Borg Warner)
continue to perform well.  A number of companies that suffered
operating losses and impaired balance sheets over the past several
years have shown clear benefits from restructuring activities
(American Axle, Lear), with stabilized cash flows and the
opportunity to modestly improve balance sheets in 2008.  Other
portions of the industry (Visteon, ArvinMeritor) have yet to
reverse negative cash flows and risk further balance sheet erosion
and more severe restructuring actions.

On an even lower rung, the industry is likely to see the emergence
from bankruptcy of a material portion of the U.S. supply base
(Delphi, Dana, Dura, Federal Mogul) assuming that operating and
financial profiles are palatable to debt investors under current
capital market conditions.  New private equity capital is playing
a major role in recapitalizing several of these companies,
although little new capital is being committed to the industry
without the benefits of restructuring through the bankruptcy
process.  In addition to companies emerging from bankruptcy,
private equity will maintain an active role in the restructuring
of the domestic industry (Tower/Cerberus, Lear/Icahn,
Visteon/Pardus).

The industry continues to suffer from overcapacity and an
uncompetitive cost structure in the U.S., resulting in a further
migration of its manufacturing footprint to low- cost locations in
Asia and Eastern Europe.  It is noteworthy that despite a large
number of assets on the market by highly motivated sellers, major
transactions from strategic buyers have been relatively few.  The
Detroit Three and their former captive suppliers, Delphi and
Visteon, still have a number of properties in the market that will
either be shut down, or sold at highly distressed prices.  Even
European suppliers with strong currency advantages and a stated
desire to grow within the U.S. through acquisition have been
relatively inactive.

Expanding suppliers, transplant and domestic, have chosen to
pursue supply contracts directly from OEMs rather than purchasing
assets from other suppliers that may have uncompetitive wage and
benefit structures, or excess capacity. The wholesale closure of
production facilities by companies that have the added flexibility
provided by the bankruptcy process is a clear indication of the
cost gap that remains to be addressed in the industry.  Weakness
in the U.S. supply base has led to an acceleration of the
expansion of European and Asian suppliers, which will put further
stress on competing U.S.-based suppliers.  This expansion is often
at the request of the OEMs which remain concerned with granting
long-term contracts for new platforms to financially vulnerable
suppliers.

Operating Performance:

First and foremost, margin performance will continue to be driven
by proprietary technologies and diversification - global
geographic diversity, product diversity, and diversity of end
customers among global vehicle manufacturers.  In 2008, margin
expansion will again be the challenge for the suppliers, as well
as the yardstick for measuring progress on restructuring programs.
Restructuring will continue to be an ongoing process for most of
the industry, and cost structures will continue to evolve.  Given
this evolution, the uncertain profitability of recent contract
wins that are now entering production will have an impact on
margins.  Pricedowns remain the rule for major parts of the
industry, which the suppliers are forced to offset by continued
productivity improvements.  However, an increasing portion of the
supply base, based on technology, quality or proprietary
processes, has been able to better hold pricing - allowing
restructuring efforts to show up in improved margin performance.
Commodity prices, although still high, have come off recent peaks,
and are expected to be less of a headwind going forward,
potentially providing some margin relief. The consolidation of the
steel industry, however, may limit the potential price declines
seen by other commodities in an economic downturn.

Risks to free cash flow include higher capital expenditures and
working capital requirements, both related, in part, to expansion
of contracts with non-U.S. manufacturers, as well as further
migration of manufacturing operations to low-cost locations.  As a
result of weak operating results and capital constraints, capital
expenditures have been declining over the past several years on an
absolute level and as a percentage of revenues.  Given the
required investments and start-up costs associated with new
product launches, and an accelerating pace of launches by OEMs,
increasing capital expenditures could extract a greater claim on
operating cash flows.  As suppliers have expanded international
sales and international manufacturing operations, suppliers have
also experienced increases in working capital requirements.  The
weakening of the U.S. dollar could also affect the competitiveness
of low cost countries.

Given further production declines in 2008, less visible second-
tier and third-tier suppliers will continue to experience a
significant degree of operating and financial stress.  With less
technology-driven value-added products, higher exposure to Detroit
Three unit volumes, and less access to external capital even under
the best of capital market conditions, these suppliers will be
further hit by weakening economic conditions and the potential
increase in cyclicality.  For first-tier suppliers, this situation
poses the risk of supply interruption, or of having to step in and
provide varying forms of financial support that could absorb
precious capital.

Despite severe damage to industry balance sheets over the last
several years, industry liquidity remains fairly healthy.  Non-
investment-grade suppliers capitalized on the very attractive
conditions prevailing in the leveraged loan market to boost
liquidity and extend maturities, typically with loan structures
and pricing that are certainly not available.  Debt maturities in
the sector are very limited, reducing refinancing risk.  Financing
risks in the sector remain focused on those companies attempting
to raise exit financing, where terms have clearly tightened.
Chrysler's inability to place its bank financing in the market and
Delphi's restructuring of its original reorganization financing
plan demonstrate clearly that the capital markets are wary of auto
and auto supplier prospects entering 2008.  With industry unit
volume declines, balance sheet improvement is likely to be
limited, and refinancing risk will become more of a factor post-
2008.


* Fitch Says Slow Economic Growth Could Pressure U.S. Auto Sales
----------------------------------------------------------------
Slowing U.S. economic growth will place pressure on U.S. auto
sales in 2008, with revenue declines offsetting much of the
benefits from recent fixed-cost improvements achieved at GM, Ford
and Chrysler.  Fitch Ratings expects that U.S. light vehicle sales
will fall approximately 3% in 2008 to 15.6 million units, from an
expected level of 16.1 million vehicles in 2007.  This would
represent the lowest annual sales total since 1998.  Increasing
interest costs from higher net leverage will also represent a more
significant claim on operating cash flows over the intermediate
term.

The Detroit Three will bear the brunt of the industry sales
declines due to brand weakness, planned production cutbacks,
higher exposure to the pickup market, and the migration of
consumers to smaller, lower-priced vehicles in which the Detroit
Three are less competitive.  The latter two factors, along with
standard industry pricing pressure, indicate that revenues will
likely decline at a faster rate than unit volume declines, further
challenging the ability to achieve cost reductions that will
outpace revenue declines.  As a result, negative cash flows,
including restructuring costs, are likely to persist.

Fitch expects that U.S. GDP growth will slow to approximately 1.7%
in 2008, with retail light vehicle sales feeling the effects of
weaker consumer discretionary spending. Fleet sales are also
expected to be hit by tighter spending, including the potential
for moderate reductions by daily rental purchasers in line with
weaker business travel.  The depressed housing market will lead to
a further slide in pickup truck sales from already reduced 2007
levels.  Industry unit sales declines in 2008 could also be
exacerbated by the greater operating flexibility of the Detroit
Three following the new four-year UAW contract.  Fixed-cost
reductions and other terms of the contract provide the Detroit
Three with the flexibility to better manage down costs and
production in line with reduced market demand.  Together with a
keener focus by the Detroit Three on managing inventories and
incentives, these factors could lead to a steeper decline in
industry unit sales and greater cyclical volatility than has been
seen in recent cycles when high incentives propped up demand and
production.  This flexibility is a favorable development for the
Detroit Three, but not for their suppliers.

Product Pipeline

The Detroit Three still face an extended transition to align their
product lineups with market demand trends.  Pickup trucks will
remain a core of volume and profitability despite current market
conditions that are viewed as cyclical rather than structural.
Large SUVs also remain a profitable market segment, largely
dominated by GM, where volumes have stabilized despite high gas
prices.  Although late to the game, GM and Ford have enjoyed clear
success in the growing crossover category, and the new Dodge
Journey will compete in that segment in early 2008.  The Detroit
Three remain less competitive in smaller car segments where
consumer demand is trending.  New vehicles to be launched by the
Detroit Three in 2008 will be competitive, but not sufficient to
halt a further slide in market share.

In the key pickup truck segment, each of the Detroit Three has
demonstrated the capacity to defend their market position versus
transplant manufacturers, a position that is expected to be
reinforced with the 2008 F-Series and Dodge Ram updates.  Toyota's
reintroduced Tundra pickup has taken market share, but quality
concerns and incentives marked the rollout as a disappointment.
Any eventual upturn in the U.S. housing market will benefit the
Detroit Three in this segment.

GM's 2008 new product performance will focus on the recently re-
introduced Chevrolet Malibu and Cadillac CTS, and a number of
hybrid models.  In early 2008 GM will launch the Pontiac G8,
redesigned Pontiac Vibe, and Saturn Astra.  GM's hybrid
introductions include mild hybrid versions of the Saturn Aura and
Chevrolet Malibu, as well as two-mode hybrid versions of the
Saturn Vue, Chevrolet Tahoe, Chevrolet Silverado, and GMC Yukon.
These new products are unlikely to offset the volume declines
occurring across a substantial number of models within the GM
portfolio, and 2008 revenue comparisons will suffer versus the
2007 rollout of higher-priced GMT-900 products.

Ford's most significant launches in 2008 include the Lincoln MKS,
which will become the brand's new flagship vehicle and the Ford
Flex.  Ford's 2008 sales volumes will be supported by a relatively
competitive smaller vehicle lineup - the recently refreshed Ford
Focus, Ford Fusion and Escape, Mercury Milan and Lincoln MKZ.
Crossover products, the Ford Edge and Lincoln MKX, have been
selling strongly.  After the likely sale of Jaguar and Land Rover
in 2008, Volvo will be the only brand remaining of Ford's Premier
Automotive Group.

Chrysler unit volumes and revenues in 2008 will benefit from the
recently launched Chrysler Town and Country and Dodge Caravan
minivans, the 2008 launch of the new Dodge Journey full-size
crossover, the reengineered and redesigned Dodge Ram pickup, and
the much-anticipated Challenger.  Two-mode hybrid versions of the
Dodge Durango and Chrysler Aspen will also be introduced in 2008.
In the minivan segment, the exit of Ford and GM and the attractive
new features on Chrysler's offerings position Chrysler to improve
on its market-leading share in the segment.  Chrysler's new owner,
Cerberus, along with recent additions to Chrysler's management
team, has made several rapid changes in Chrysler's vehicle lineup,
with more changes expected.  By the end of 2008, the Dodge Magnum,
Chrysler PT convertible, Chrysler Pacifica, and Chrysler Crossfire
will be discontinued.

The Detroit Three may also be regaining some recognition for
innovation: Ford's Sync Microsoft dashboard system, GM's dual-mode
Yukon and Tahoe hybrids (that equal the city gas mileage of a
four-cylinder Toyota Camry), the development of GM's Volt plug-in
concept, Chrysler's 'Swivel 'n Go' seating and table in its new
minivan, etc., are all representative of the types of technologies
the Detroit Three hope will draw U.S. consumers back.
Importantly, GM, and to an even greater extent Ford, have made
clear gains in their quality perception through a string of
successful product introductions, gains in various quality
surveys, and related media focus.  Coupled with the increasingly
frequent and publicized recalls across a number of Toyota
vehicles, the quality perception between the Detroit Three and the
transplants shows signs of narrowing.

Notable U.S. product introductions from the transplants include
the 2008 versions of the Toyota Sequoia, Matrix and Corolla, and
the 2008 Honda Accord.  Continuing capacity expansion for existing
transplant products will result in expanded market share at the
expense of the Detroit Three.  European manufacturers in the
luxury segment performed well in 2007, a performance that is
expected to continue in 2008 although the weaker dollar will have
a material effect on profitability on products exported from high-
cost European manufacturing capacity.

International operations at Ford and GM continue to be a bright
spot, although it is unlikely that significant cash flow from
these operations will be repatriated to service U.S. obligations
in the near term.  Chrysler continues to enjoy solid export
growth, aided by the weaker dollar, which could help absorb
marginal production capacity as U.S. sales weaken.

Brand Management:

Economic pressures in 2008 could force the Detroit Three to
address long-standing brand issues.  In particular, Mercury,
Lincoln, Buick, Pontiac and Saturn all face one or more issues of
scale, brand identity, and product overlap - Is the Buick brand
viable with effectively one competitive product and scale of less
than 200,000 annual units? Can marketing costs and brand
investments earn required returns on these brands? Are the U.S.
end-markets and auto brands sufficiently segmented to support four
derivatives of the same vehicle (Buick Enclave, Saturn Outlook,
Chevrolet Traverse, GMC Acadia)? Do Mercury and Pontiac simply
cannibalize products from sister brands? Resolution of these
questions is not just a marketing issue - platform and product
investment, platform scale, dealer networks, and production
footprint are all inextricably linked.

Providing sufficient support and investment across brands in a
capital constrained environment is not something the Detroit Three
have done well.  In 2007 year-to-date, only three domestic brands,
Saturn, Lincoln, and GMC managed to sell more vehicles than the
prior year.  Resolving these questions will also be a lengthy and
costly process, and the task was made more difficult by the
investment and production commitments made by GM and Ford under
the latest UAW contract.  In a number of facilities, GM and Ford
will have to replace weak-selling products with rejuvenated
product introductions in order to avoid a repeat of the fixed-cost
and overcapacity issues that have plagued them over the past
years.

Wages and Benefits:

The terms of the new UAW contract put the Detroit Three on a
longer term path to competitive wage and benefit levels.  However,
the transition to second-tier wages and benefits for a material
portion of the workforce will take time to realize through
additional buyouts and attrition.  In 2008, the Detroit Three will
be challenged to outpace revenue pressures with further cost
reductions, although material 2007 hourly workforce reductions at
Ford and Chrysler have yet to be fully realized in operating
results.

Over the longer term, however, further turnover of the labor
force, resulting in a higher percentage of second-tier wage
earners, will yield meaningful savings.  Fitch estimates that from
the end of 2006-2008, the Detroit Three could reduce their hourly
U.S. workforce by more than 30%, with wage and benefit run-rate
savings of more than a third through 2009.  The fact that new
hires will be on a defined contribution pension plan, with no
retiree health care benefits, represents a significant long-term
savings and a more industry-competitive cost structure.  Industry
wage rates will continue to be under pressure as transplants also
look to move to prevailing local wage rates.

Although the agreements put the Detroit Three on a course to a
competitive wage and benefit structure with transplant
manufacturers, there remain significant cost disadvantages in
terms of flexible manufacturing and capital investment efficiency.
The extensive platform sharing, parts commonality, and supplier
competitiveness enjoyed by the transplants indicates that the
variable cost gap will be as challenging to close as the fixed
cost gap has proven to be. U.S. suppliers will continue to be
under stress in 2008.

VEBA:

The Detroit Three and the UAW have prudently structured the
funding of the VEBA trusts to preserve healthy liquidity at the
Detroit Three - a critical consideration given the uncertain
economic environment and significant cash requirements to fund
restructuring programs and ongoing working capital.  Transferring
retiree health care liabilities to the UAW, as well as the risk of
future medical cost inflation, represents a significant risk
transfer.  However, the offsetting costs are material.  The loss
of assumed earnings on existing VEBA assets, the loss of income
earned on cash and marketable securities that will be used to fund
the trust, and higher interest expense on debt issued to the trust
will diminish the near-term benefits realized from the agreement.
(Note: Until the VEBA trusts are removed from the consolidated
balance sheets of the Detroit Three, the full extent of the debt
load, loss of interest income, and interest expense will be
difficult to discern without clear disclosure.)

Debt Burden:

Although the health care liabilities associated with the UAW
workforce will be removed from the balance sheet, the benefit has
been muted by the growth in debt. Since the end of 2001, and
incorporating the new debt to be issued to the VEBA trusts, Ford's
debt will have grown by more than $21 billion and GM's by more
than $31 billion.  Ford and GM will have to service this debt with
dramatically lower earnings capacity - a result of share losses
and downsized production capacity, severely reduced or eliminated
dividends from their finance operations, and the loss of earnings
from divested assets.  In GM's case, liquidity drains from
significant operating losses, restructuring costs, and costs
associated with Delphi have been regularly replenished by the sale
of Allison Transmission, a 51% interest in GMAC, and various
shareholdings and joint ventures.

With fewer assets to tap at GM and Ford, cash drains from
operating losses, working capital reductions and further
restructuring will diminish still-healthy liquidity until
operating results turn cash flow positive.  Cash flow is expected
to remain negative for Ford and GM in 2008, although cost
improvements from the new UAW contract will begin to cushion
downside risks in 2009.  High net leverage and the related
interest expense will represent an increasing claim on cash flow
in 2008 and 2009.  It is important to note that due to recent
write-offs and recognition of plant closing costs, non-cash
savings on health care costs, strong pension asset performance,
and the pending VEBA accounting, reported profitability will
strengthen in excess of cash flow, and any return to profitability
may not be accompanied by a return to positive cash flow.

Politics:

Heading into the 2008 election year, the industry will see an
acceleration of regulatory and legislative activity across a
variety of issues.  Led by fuel efficiency and emission standards,
the auto industry will continue to face scrutiny and uncertainty
at the state, federal and judicial levels.  Entering 2007, a
number of these issues were largely long-term in nature, but the
timetable has now been accelerated - largely to the comparative
detriment of U.S. manufacturers who remain weighted to less fuel-
efficient vehicles.  In addition to fuel efficiency and emission
standards, issues include tax policy, trade policy, and
alternative fuel developments.  Political intervention poses the
risk to manufacturers of altering market demand or investment
decisions.  As powertrain technologies and strategies diverge, the
U.S. manufacturers have a clear long-term financial strength
disadvantage versus transplant manufacturers.

Early 2007 saw a lot of U.S. brand/product marketing focused on
ethanol-capable vehicles.  Currently there appears to be little
consensus that ethanol is a viable alternative fuel solution over
the longer term.  On the other hand, Fitch expects that the
compelling fuel efficiency and improved emission technologies of
diesel will lead to rapid regulatory and consumer acceptance,
leading to greatly enhanced diesel penetration starting in 2009-
10.  The growing acceptance of diesel is expected to be a major
industry development and competitive factor over the near term.

Summary:

Economic conditions will be the driving factor for the performance
of the Detroit Three in 2008.  The restructuring of the industry
remains a long-term process - the transition of workforce, the
rebalancing of product portfolios - and a return to competitive
margins remains a distant objective.  Productivity, quality and
supplier costs will be less visible, but critical priorities.  The
new UAW contract provides a path to competitive wage and benefit
levels, buying additional time for restructuring and reengineering
efforts to take hold, but top-line pressures and restructuring
costs will result in continued negative cash flow for Ford and GM.
Liquidity is healthy, but higher net leverage and interest expense
will become an increasing burden to the Detroit Three over the
intermediate term in the absence of material margin expansion.


* Moody's Says 2007 Holiday Retail Season Will Be Competitive
-------------------------------------------------------------
The 2007 holiday retail season is shaping up to be one of the most
competitive in recent years, with macroeconomic headwinds
affecting potentially every retailer, says Moody's Investors
Service.  In this environment, stronger retailers will be
increasing promotions to extract share from weaker ones and sales
will be volatile.

"Rising energy prices and the housing market turmoil -- led by
sub-prime fallout and relatively high interest rates on consumer
credit -- has created an increasingly volatile retail environment,
which could get worse as the typical Holiday competition
increases," says Moody's Vice President Charles O'Shea, author of
the report.

Moody's expects home electronics again to be the most important
category this holiday and for flat panel televisions to be the
most competitive segment.

Moody's also expects an aggressively promotional pricing
environment for flat panels, especially from the discounters,
warehouse clubs, and Sears as they attempt to stimulate store
traffic.  "With gas prices almost $1.00 per gallon higher than
Holiday 2006, it will be even more critical for shoppers to be
efficient in their shopping outings this year," says O'Shea.

The discounters are expected set an even faster pace this Holiday
season as their value proposition becomes even more compelling due
to the challenging macroeconomic environment. "Wal-Mart has
continued to ratchet up the pressure with heavily-promotional
consumer electronics, particularly flat-panel televisions, with
much greater selection up and down the price scale than even last
year, while Target has deepened its flat-panel offerings, making
it a compelling alternative, especially at the under-$1000 price
point," says O'Shea.

Costco will continue to utilize its broad array of food offerings
to drive store traffic, with its larger sized grocery items
perfect for Holiday entertaining.  Moody's also expects Costco to
be at the top of the performance list for this Holiday season.

In all, Moody's expects the lower to middle end retailers that
offer flat panel televisions to have a leg up on their soft goods
and specialty competitors.

Retailers' focus on the critical Holiday season is also magnified
because many are looking to salvage what has been so far at best a
disappointing year.

The full title of this Moody's Special Comment is "It's A Flat
Panel World -- Big Box Retail Holiday 2007."


* Moody's Publishes a Summary of Ratings on Alt-A RMBS
------------------------------------------------------
Moody's Investors Service has published a new report providing a
summary of rating actions taken to date on 2005 and 2006 Moody's-
rated Alt-A residential mortgage-backed securities.

On Nov. 27, 2007, Moody's completed a review of all outstanding
non-Option ARM Alt-A RMBS rated in Q4 2005 and in 2006.  As a
result of the review, a total of 222 securities issued in 2005 and
1,247 securities issued in 2006 were downgraded and/or placed
under review for possible downgrade.  The affected tranches issued
in 2005 have an original balance of $1.5 billion, representing
0.4% of the original dollar volume of Alt-A RMBS rated by Moody's
in 2005.  The original balance on affected tranches issued in 2006
totals $10.2 billion, or 2.5% of Moody's-rated Alt-A RMBS from
that year.

Among 2005 vintage securities, 196 were downgraded, with a
combined rated original balance of $1.1 billion.  Five of those
securities were also placed on review for further possible
downgrade, while an additional 26 securities ($367 million) were
also placed on review for possible downgrade.  Among 2006 vintage
securities, 908 (with an original balance of $4.3 billion) were
downgraded as a result of the review. Twenty-four of those
securities were also placed under review for further possible
downgrade, while an additional 339 securities ($5.9 billion) were
also placed on review for possible downgrade.

The review was prompted by deteriorating mortgage performance in
pools backing transactions issued during this period, resulting
from aggressive underwriting combined with a tightened lending
market and prolonged home price weakness that is expected to
continue.

The methodology Moody's used to update its loss estimates for the
reviewed transactions was to separately project ultimate losses
for the delinquent and non-delinquent portions of the loan pools.

For the delinquent portions of the pools, Moody's applied roll
rates of 25%, 65%, 90%, and 100% to 60-day delinquencies, 90+-day
delinquencies, foreclosures, and REO, respectively, and applied
severities of 25% to 30%, to forecast expected pipeline losses.
For pools with less than 18 months of seasoning that had growing
delinquency pipelines, Moody's projected delinquencies,
foreclosures, and REO out to 18 months and then applied the roll-
rate analysis described above.

For the non-delinquent portion of the pools, estimated losses were
driven by Moody's new Alt-A rating methodology that was adopted in
August.  Estimated losses were also informed by overall issuance
shelf performance.

The Alt-A universe includes a fairly broad spectrum of collateral
quality and performance.  As such, certain issuance shelves -- and
even certain pool types within shelves -- tend to perform closer
to the prime end of the credit spectrum, while others may perform
closer to the subprime sector with very sizeable early severe
delinquencies.

As a result, Moody's lifetime loss estimates on the pools included
in the review increased by as much as 270% over initial
expectations, with an average increase of 110%.  Moody's intends
to publish shortly its revised expected loss estimates on a
transaction by transaction basis.

The rating actions were based on the resulting updated pool loss
expectations when compared to credit enhancement in the deals in
the form of available subordination, overcollateralization and
excess spread.

Updates to the report will be published as needed pending future
rating actions.  Moody's will complete reviews of Option ARM Alt-A
RMBS issued over the same period as well as 2007 vintage Alt-A
transactions within the next several weeks.


* Moody's Says Sudden Departure of CEO Reveals Weakness in Firm
---------------------------------------------------------------
The sudden departure of a CEO can reveal weaknesses in a firm's
corporate governance, says Moody's Investors Service in a new
report.  Moody's looks to the effectiveness of leadership
transition and the structure of pay for the new CEO as key
indicators of governance quality, as well as the quality of board
engagement, rather than the size of the actual payout.

"Other than rare cases when boards use significant discretion, we
don't pay much attention to the actual severance payout when
evaluating the quality of corporate governance in rated
companies," says Moody's Analyst Drew Hambly.  "Instead, we focus
on signs of inadequate succession planning, mishandling the CEO
search, or a lack of willingness by the board to restructure pay
when the departing CEO's pay had been high relative to peers."

Much has been made of the total size of payouts made to departing
CEOs at various firms.  These payouts do not generally point to
current weaknesses in corporate governance that could compromise
credit quality, says Moody's.

"The size of the payout to the outgoing CEO generally doesn't tell
us much about the board or present governance quality," says
Hambly.  "High payouts, however, can highlight past pay-setting
problems, such highly favorable employment contracts and above-
peer compensation."

At the point of firing CEOs, boards typically have limited
discretion over the size of payouts to departing CEOs, given that
the bulk of payments tend to be severance, pension, or deferred
compensation payments that are obligatory.  Over three-fifths
(62%) of Fortune 100 CEOs have severance coverage, which typically
provides for a cash severance payout, preferential vesting of
equity, and health and benefits.

"Although the sheer size of a payout may seem outsized given that
the reason for departure is often corporate under-performance,
large-company boards generally have little discretion in the
severance, pension, and benefits that they must pay," says Hambly.

Even in cases where a CEO is terminated for underperformance, this
does not typically qualify as a "for cause" termination that would
limit severance benefits.  Most employment contracts do not
include corporate underperformance as grounds for a "for cause"
dismissal.

Called "Analyzing Unexpected CEO Departures and Severance Payouts
for Signs of Weak Governance," this Moody's Special Comment
includes an analysis of the average value of "payouts" to large-
company CEOs and outlines typical contract terms. According to
Moody's estimates, on average, CEOs of Fortune 250 companies who
have severance coverage would receive $27.4 million upon
departure, or $37.4 million if a deferred compensation plan is in
place.

Since its creation in 2003, Moody's Corporate Governance
Specialist Group has worked alongside Moody's credit analysts to
incorporate governance more systematically into the credit rating
process.  The group has published individual corporate governance
assessments, which comment on the quality of governance and the
link to credit quality, at over 500 large North American
companies.  The group publishes research comments on those
governance issues Moody's believes have an impact on rated
issuers' credit quality.


* Moody's Says Report on Filing Under Section 404 Shows Problems
----------------------------------------------------------------
The internal control reports of foreign private issuers filing for
the first time under Section 404 of the Sarbanes-Oxley Act showed
the presence of some control problems, a few serious, but did not
lead to any rating actions, says Moody's Investors Service.  Of
the 158 foreign private issuers rated by Moody's and required to
report under SOX 404 for the first time this year, seven disclosed
material weaknesses, or approximately 4%.

Three of the seven reported a weakness that Moody's considers
serious enough to warrant potential rating action.  Moody's took
no rating actions directly from the control deficiencies because
they were previously known about and reflected in ratings or were
currently being evaluated.

"The percentage of Moody's rated foreign private issuers reporting
control problems is similar to our experience with US public
companies," said Moody's Alan Rosenberg, author of the report.

During their first year of reporting approximately 6% of US
Moody's-rated issuers reported problems.

Moody's says only 275 of the approximately 3,500 non-US companies
that it rates are foreign private issuers and subject to
Securities Exchange Act reporting requirements.  Only about half
of these are currently required to file internal control reports.

With the implementation Sarbanes-Oxley Section 404, governments
and security regulators around the world have been paying more
attention to the issue of internal control reporting, says
Moody's.  While Moody's perceives benefits from reporting on
internal controls, it does not differentiate the credit quality of
companies solely on the basis of different requirements for
management or auditor reporting on controls, as the rating agency
has no objective or consistent means of doing so.

The full title of this report is "The First Year of Section 404
Reporting on Internal Control by Foreign Private Issuers."


* Moody's Monitors the Liquidity of Florida's Universities
----------------------------------------------------------
Moody's Investors Service is monitoring the liquidity of Florida's
local governments and public universities in light of the State
Board of Administration's suspension of withdrawals from the Local
Government Investment Pool following the withdrawal by
participants of approximately $10 billion of the approximately $25
billion pool.

"Moody's is collecting information on liquidity measures being
taken by pool participants," said Moody's Senior Vice President
John Incorvaia, author of a special report published by the rating
agency yesterday.  "We will evaluate our ratings for entities
significantly affected by the freeze on withdrawals and any
subsequent actions by the SBA."

He said most rated entities contacted by Moody's that have been
affected by the suspension have indicated that their cash flow
positions are currently being supported by property tax receipts
and that income from the LGIP is not critical to meet immediate
liquidity requirements.  However, he said, Moody's recognizes that
there are municipalities that have had to rely on external
liquidity to meet payroll, debt service and other obligations.

The SBA was scheduled to meet Dec. 4, to consider proposals that
would allow localities and public universities in Florida to
request specific withdrawals based on criteria to be defined by
the SBA.

In its report, "Moody's is Monitoring Liquidity of Florida Local
Governments in Light of SBA Suspension of LGIP Withdrawals," the
rating agency said it is collecting information on state-sponsored
investment pools nationwide and is augmenting its traditional
review of rated credits with respect to cash investments in
general.


* Chapter 11 Cases with Assets & Liabilities Below $1,000,000
-------------------------------------------------------------
Recent Chapter 11 cases filed with assets and liabilities below
$1,000,000:

In Re Anh Van Nguyen
   Bankr. D. Ariz. Case No. 07-06352
      Chapter 11 Petition filed November 27, 2007
         See http://bankrupt.com/misc/azb07-06352.pdf

In Re 264 West 23rd Corp.
   Bankr. S.D. N.Y. Case No. 07-13749
      Chapter 11 Petition filed November 27, 2007
         See http://bankrupt.com/misc/nysb07-13749.pdf

In Re J.W.K. Holdings, Inc.
   Bankr. S.D. Tex. Case No. 07-38049
      Chapter 11 Petition filed November 27, 2007
         See http://bankrupt.com/misc/txsb07-38049.pdf

In Re Torres Cigars Co., Inc.
   Bankr. M.D. Fla. Case No. 07-11572
      Chapter 11 Petition filed November 28, 2007
         See http://bankrupt.com/misc/flmb07-11572.pdf

In Re Work Construction Co., Inc.
   Bankr. E.D. La. Case No. 07-12344
      Chapter 11 Petition filed November 28, 2007
         See http://bankrupt.com/misc/laeb07-12344.pdf

In Re Mid-America Parts, Inc.
   Bankr. W.D. Mo. Case No. 07-61746
      Chapter 11 Petition filed November 28, 2007
         See http://bankrupt.com/misc/mowb07-61746.pdf

In Re Applause Salon Spa
   Bankr. D. Nev. Case No. 07-17857
      Chapter 11 Petition filed November 28, 2007
         See http://bankrupt.com/misc/nbv07-17857.pdf

In Re Sea Ranch II Owners Association, Inc.
   Bankr. E.D. N.C. Case No. 07-04475
      Chapter 11 Petition filed November 28, 2007
         See http://bankrupt.com/misc/nceb07-04475.pdf

In Re Rice Brothers Feedyards, L.L.C.
   Bankr. D. Neb. Case No. 07-42259
      Chapter 11 Petition filed November 28, 2007
         See http://bankrupt.com/misc/neb07-42259.pdf

In Re Mt. Urvan Ministry
   Bankr. D. N.J. Case No. 07-27476
      Chapter 11 Petition filed November 28, 2007
         See http://bankrupt.com/misc/njb07-27476.pdf

In Re Empowerment Worship Center, Inc.
   Bankr. W.D. Okla. Case No. 07-14345
      Chapter 11 Petition filed November 28, 2007
         See http://bankrupt.com/misc/okwb07-14345.pdf

In Re Tilghman Builders, Inc.
   Bankr. E.D. Penn. Case No. 07-16966
      Chapter 11 Petition filed November 28, 2007
         See http://bankrupt.com/misc/paeb07-16966.pdf

In Re pHience, Inc.
   Bankr. D. Ariz. Case No. 07-06375
      Chapter 11 Petition filed November 28, 2007
         Filed as Pro Se

In Re Jaime Gutierrez
   Bankr. C.D. Calif. Case No. 07-13984
      Chapter 11 Petition filed November 28, 2007
         Filed as Pro Se

In Re Alma Marie Triche-Winston
   Bankr. E.D. Calif. Case No. 07-30155
      Chapter 11 Petition filed November 28, 2007
         Filed as Pro Se

In Re Henry Enterprises, L.L.C.
   Bankr. D. Ariz. Case No. 07-06417
      Chapter 11 Petition filed November 29, 2007
         See http://bankrupt.com/misc/azb07-06417.pdf

In Re Benson Engineering, Inc.
   Bankr. M.D. Fla. Case No. 07-11659
      Chapter 11 Petition filed November 29, 2007
         See http://bankrupt.com/misc/flmb07-11659.pdf

In Re Arho Investment Corp.
   Bankr. S.D. Fla. Case No. 07-20460
      Chapter 11 Petition filed November 29, 2007
         See http://bankrupt.com/misc/flsb07-20460.pdf

In Re New Garden Cleaners, Inc.
   Bankr. N.D. Ill. Case No. 07-22359
      Chapter 11 Petition filed November 29, 2007
         See http://bankrupt.com/misc/ilnb07-22359.pdf

In Re Ellis Properties, Inc.
   Bankr. D. Mass. Case No. 07-17599
      Chapter 11 Petition filed November 29, 2007
         See http://bankrupt.com/misc/mab07-17599.pdf

In Re Party Everyday, L.L.C.
   Bankr. D. N.J. Case No. 07-27517
      Chapter 11 Petition filed November 29, 2007
         See http://bankrupt.com/misc/njb07-27517.pdf

In Re Mountainside Investments, L.L.C.
   Bankr. D. Ariz. Case No. 07-06397
      Chapter 11 Petition filed November 29, 2007
         Filed as Pro Se

In Re 556 First Street, L.L.C.
   Bankr. D. N.J. Case No. 07-27521
      Chapter 11 Petition filed November 29, 2007
         Filed as Pro Se

In Re Jackson Acquisitions, L.L.C.
   Bankr. N.D. Ill. Case No. 07-22323
      Chapter 11 Petition filed November 29, 2007
         Filed as Pro Se

In Re Image Auto Body, Inc.
   Bankr. W.D. Tex. Case No. 07-12194
      Chapter 11 Petition filed November 29, 2007
         See http://bankrupt.com/misc/txwb07-12194.pdf

In Re Meehan Foods, L.L.C.
   Bankr. D. Md. Case No. 07-22121
      Chapter 11 Petition filed November 30, 2007
         See http://bankrupt.com/misc/mdb07-22121.pdf

In Re Amiel B. Overman
   Bankr. W.D. Mo. Case No. 07-30851
      Chapter 11 Petition filed November 30, 2007
         See http://bankrupt.com/misc/mowb07-30851.pdf

In Re Laura J. McLaughlin
   Bankr. W.D. Penn. Case No. 07-27594
      Chapter 11 Petition filed November 30, 2007
         See http://bankrupt.com/misc/pawb07-27594.pdf

In Re Brothers Three Corp.
   Bankr. E.D. Va. Case No. 07-13706
      Chapter 11 Petition filed November 30, 2007
         See http://bankrupt.com/misc/vaeb07-13706.pdf

In Re Buffalo Restorations, L.L.C.
   Bankr. W.D. Wash. Case No. 07-44126
      Chapter 11 Petition filed November 30, 2007
         See http://bankrupt.com/misc/wawb07-44126.pdf

In Re New Guardian, L.L.C.
   Bankr. W.D. Wash. Case No. 07-44138
      Chapter 11 Petition filed November 30, 2007
         See http://bankrupt.com/misc/wawb07-44138.pdf

In Re Norwest Builders, L.L.C.
   Bankr. W.D. Wash. Case No. 07-44142
      Chapter 11 Petition filed November 30, 2007
         See http://bankrupt.com/misc/wawb07-44142.pdf

In Re Woodberry Enterprises, Inc.
   Bankr. S.D. W.V. Case No. 07-40241
      Chapter 11 Petition filed November 30, 2007
         See http://bankrupt.com/misc/wvsb07-40241.pdf

In Re Joyce P. Bryant
   Bankr. M.D. Fla. Case No. 07-05489
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/flmb07-05489.pdf

In Re P.B.S. Global, Inc.
   Bankr. M.D. Fla. Case No. 07-06222
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/flmb07-06222.pdf

In Re Mexco, L.L.C.
   Bankr. S.D. Fla. Case No. 07-20713
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/flsb07-20713.pdf

In Re Lee Deering Electric Co., Inc.
   Bankr. E.D. Mo. Case No. 07-48062
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/moeb07-48062.pdf

In Re Deering Communications, Inc.
   Bankr. E.D. Mo. Case No. 07-48063
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/moeb07-48063.pdf

In Re Furniture Plus, Inc.
   Bankr. D. N.H. Case No. 07-12721
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/nhb07-12721.pdf

In Re Gerard Duenas
   Bankr. N.D. Calif. Case No. 07-11583
      Chapter 11 Petition filed December 3, 2007
         Filed as Pro Se

In Re Alicia Garza Gonzalez
   Bankr. S.D. Tex. Case No. 07-20645
      Chapter 11 Petition filed December 3, 2007
         Filed as Pro Se

In Re The Johnickie Group
   Bankr. N.D. Ga. Case No. 07-80265
      Chapter 11 Petition filed December 3, 2007
         Filed as Pro Se

In Re Byron Clayton Thompson
   Bankr. N.D. Calif. Case No. 07-44179
      Chapter 11 Petition filed December 3, 2007
         Filed as Pro Se

In Re Lyn S. Lee-Beam
   Bankr. D. S.C. Case No. 07-06773
      Chapter 11 Petition filed December 3, 2007
         Filed as Pro Se

In Re Heather Mae Dunnells
   Bankr. E.D. Va. Case No. 07-13766
      Chapter 11 Petition filed December 3, 2007
         Filed as Pro Se

In Re Kaf'e Kelley's, Inc.
   Bankr. N.D. Ga. Case No. 07-80166
      Chapter 11 Petition filed December 3, 2007
         Filed as Pro Se

In Re Concord Capital Group
   Bankr. N.D. Tex. Case No. 07-35983
      Chapter 11 Petition filed December 3, 2007
         Filed as Pro Se

In Re God's Praise & Worship Center, Inc.
   Bankr. N.D. Tex. Case No. 07-36028
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/txnb07-36028.pdf

In Re Saige Properties, Inc.
   Bankr. N.D. Tex. Case No. 07-36034
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/txnb07-36034.pdf

In Re Christopher John Pearson
   Bankr. W.D. Tex. Case No. 07-12234
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/txsb07-12234.pdf

In Re Ella Ledet
   Bankr. S.D. Tex. Case No. 07-38340
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/txsb07-38340.pdf

In Re Praise Christian Center World Outreach, Inc.
   Bankr. S.D. Tex. Case No. 07-38350
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/txsb07-38350.pdf

In Re C.&B. Hasdorff, Inc.
   Bankr. S.D. Tex. Case No. 07-60181
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/txsb07-60181.pdf

In Re Charles Michael Hasdorff
   Bankr. S.D. Tex. Case No. 07-60182
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/txsb07-60182.pdf

In Re Palace Heights Antiques Mall
   Bankr. W.D. Tex. Case No. 07-53217
      Chapter 11 Petition filed December 3, 2007
         See http://bankrupt.com/misc/txwb07-53217.pdf

In Re Marcos Antonio Suarez
   Bankr. N.D. Calif. Case No. 07-54027
      Chapter 11 Petition filed December 4, 2007
         See http://bankrupt.com/misc/canb07-54027.pdf

In Re Terrance L. Jeter D.M.D., P.C.
   Bankr. N.D. Ga. Case No. 07-80482
      Chapter 11 Petition filed December 4, 2007
         See http://bankrupt.com/misc/ganb07-80482.pdf

In Re Jitney, L.L.C.
   Bankr. E.D. Mich. Case No. 07-64713
      Chapter 11 Petition filed December 4, 2007
         See http://bankrupt.com/misc/mieb07-64713.pdf

In Re James R. Melini, Sr.
   Bankr. D. N.J. Case No. 07-27890
      Chapter 11 Petition filed December 4, 2007
         See http://bankrupt.com/misc/njb07-27890.pdf

In Re Aigon Supplies, Inc./Aigon Equipment, Inc.
   Bankr. E.D. N.Y. Case No. 07-46667
      Chapter 11 Petition filed December 4, 2007
         Filed as Pro Se

In Re Eric J. Pelletier Architect, P.C.
   Bankr. E.D. N.Y. Case No. 07-75008
      Chapter 11 Petition filed December 4, 2007
         Filed as Pro Se

In Re Laredo R.C. Investments, L.L.C.
   Bankr. S.D. Tex. Case No. 07-50281
      Chapter 11 Petition filed December 4, 2007
         See http://bankrupt.com/misc/txsb07-50281.pdf

In Re Elizabeth B. Beal
   Bankr. S.D. Tex. Case No. 07-70578
      Chapter 11 Petition filed December 4, 2007
         See http://bankrupt.com/misc/txsb07-70578.pdf

                             *********

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.

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