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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

              Tuesday, March 9, 2010, Vol. 14, No. 67

                            Headlines

ABITIBIBOWATER INC: Has Tentative Labor Deal with Canada Union
ABITIBIBOWATER INC: Further Amends E&Y Scope of Work
ABITIBIBOWATER INC: Expands Scope of PWC Canada Services
ABITIBIBOWATER INC: Imerys Gets Nod for Administrative Claims
AGCO CORP: S&P Raises Corporate Credit Rating From 'BB+'

AGRIPROCESSORS INC: Ex-CEO Loses Bid for Acquittal, New Trial
ALION SCIENCE: Moody's Assigns 'B1' Ratings on Two Notes
ALION SCIENCE: S&P Assigns 'B' Rating on $300 Mil. Senior Notes
AMBRILIA BIOPHARMA: P. Schmelck Resigns from Board
AMERICAN CLAIMS: Gets Deficiency Letter from Nasdaq

AMERICAN GENERAL FINANCE: Reports $477.7 Million Net Loss in 2009
AMERICAN INT'L: Unveils $15.5-Bil. Deal to Sell ALICO to Metlife
AMERICANWEST BANCORP: Lowers Net Loss to $71.1-Mil. in 2009
AMERICANWEST BANCORP: To Voluntarily Delist Stock from Nasdaq
ANDREW YOUNG: Can Hire Gregory S. Reising as Special Counsel

ANF ASBURY PARK: Case Summary & 19 Largest Unsecured Creditors
ANGIOTECH PHARMACEUTICALS: Lowers Net Loss to $23MM in 2009
APPALACHIAN OIL: Plan Confirmation Hearing Scheduled for March 30
APPLIED NANOTECH: Posts $2.2 Million Net Loss in 2009
ARDEL HAROLD NELSON: Case Summary & 6 Largest Unsecured Creditors

AUGUSTA APARTMENTS: Wants to Use PNC Bank's Cash Collateral
BANANA RIVER: Voluntary Chapter 11 Case Summary
BARCELONA BUSINESS: Voluntary Chapter 11 Case Summary
BARCELONA RESTAURANTS: Voluntary Chapter 11 Case Summary
BENDER SHIPBUILDING: Signal Wins Auction for Assets

BERNARD MADOFF: Victims Can Appeal Ruling on Claims Computation
BIOANALYTICAL SYSTEMS: Gets Non-Compliance Notice from NASDAQ
BLUE HERON: Files Schedules of Assets and Liabilities
BOISE CASCADE: S&P Puts 'B+' Rating on CreditWatch Positive
BRENTWOOD GROUP: Files for Chapter 11 to Avoid Lawsuits

BTA BANK: Given Permanent Relief in Chapter 15
CANNERY CASINO: Loan Amendment Won't Affect Moody's 'Caa1' Rating
CARABEL EXPORT: Plan of Reorganization Wins Court Approval
CAROL LYNN PROPERTIES: Case Summary & 5 Largest Unsec. Creditors
CAROLINA FIRST: S&P Withdraws Junk Issuer & Unsec. Deposit Ratings

CASCADES INC: Offers to Pay Noteholders to Adjust Covenants
CATALINA INDUSTRIES: Amends List of 20 Largest Unsecured Creditors
CELEBRITY RESORTS: Voluntary Chapter 11 Case Summary
CENTAUR LLC: Files for Chapter 11; Has Tentative Deal with Lenders
CENTAUR LLC: Case Summary & 30 Largest Unsecured Creditors

CENTERLINE CAPITAL: Completes Comprehensive Restructuring
CHARTER COMMS: Wants to Extend Maturity of $3-Bil. Credit Lines
CHRYSLER LLC: Gets OK to Hire DESCO & NAI as Real Estate Brokers
CHRYSLER LLC: Jacob Consulting Finds $258,750 Cash
CHRYSLER LLC: Rejects Contract With Main Street

CHRYSLER LLC: Wants to Abandon Interests in Three Dealerships
CISTERA NETWORKS: Earns $38,131 in Fiscal 3rd Quarter
CITADEL BROADCASTING: Committee Proposes Chanin as Advisor
CITADEL BROADCASTING: Committee Proposes FCC Counsel
CITADEL BROADCASTING: Committee Proposes Quinn Emanuel as Counsel

CITIGROUP MORTGAGE TRUST: DBRS Rates Class 2A2 at 'B'
CLIFFBREAKER RIVERSIDE: Files for Chapter 11 after Deal Reached
COHARIE HOG: Wants Until May 6 to Propose Chapter 11 Plan
CONTINENTAL SALES: Case Summary & 20 Largest Unsecured Creditors
CONVERGYS CORPORATION: Moody's Retains 'Ba1' Corp. Family Rating

COREL CORP: JANA Partners No Longer Holds Shares
CRAWFORD AND COMPANY: Moody's Affirms 'B1' Corp. Family Rating
CROWN CRAFTS: Extends Financing Agreement with CIT
CROWN MEDIA: Inks Recapitalization Agreement with Hallmark Cards
CROWN MEDIA: Reports $22.6-Mil Net Loss in 2009; Revenue Down 1%

CTI INDUSTRIES: S&P Affirms Corporate Credit Rating at 'B'
CUMULUS MEDIA: Reports $126.7-Mil. Net Loss for 2009
CUMULUS MEDIA: Names Joseph Hannan as Senior Vice President
DANNY'S FAMILY: Voluntary Chapter 11 Case Summary
DAVID NICHOLS: Case Summary & 3 Largest Unsecured Creditors

DELPHI ASSOCIATES: Founders Charged in Securities Fraud
DELTATHREE INC: Posts $367,000 Net Loss in Q3 2009
DHILLON PROPERTIES: Can Hire Kung & Associates as Bankr. Counsel
DHILLON PROPERTIES: Files Schedules of Assets and Liabilities
DHILLON PROPERTIES: Has Access to Wells Fargo Cash Until June 30

DIGITAL LIGHTWAVE: Earns $204,000 in Q3 2009
DIPAK DESAI: Files Schedules of Assets & Liabilities
DIPAK DESAI: Section 341(a) Meeting Scheduled for April 1
DIPAK DESAI: Taps Nossaman as Bankruptcy Counsel
DIPAK DESAI: Wants Lewis & Roca as Local Counsel

DISH NETWORK: S&P Retains 'Ba3' Corporate Family Rating
DOLLAR THRIFTY: Expects Adequate Cash for 2010
DONALD YOUNG: Case Summary & 20 Largest Unsecured Creditors
DOUBLE E DEVELOPMENT: Case Summary & 4 Largest Unsecured Creditors
DUBAI WORLD: To Hold Informal Meetings with Creditors This Week

EAST WEST RESORT: Seeks Approval of Asset Sale Protocol
EMERGENCY MEDICAL: S&P Assigns 'BB+' Rating on Two Loans
EMRISE CORP: Gets "Cure Period" to Achieve Listing Standards
ERICKSON RETIREMENT: Farrell Fritz Approved as Conflicts Counsel
ERICKSON RETIREMENT: Strategic Entities Want Share From Proceeds

ERICKSON RETIREMENT: Strategic Has OK for Rule 2004 Probe
ERICKSON RETIREMENT: Wilmington Trust Backs HCP Settlement
FIRSTPLUS FINANCIAL: Trustee Has Until March 12 to File Schedules
FLYING J: Plan Exclusivity Extension Hearing on March 23
FRANCISCAN COMMUNITIES: Files Schedules of Assets & Liabilities

FRANCISCAN COMMUNITIES: Sec. 341(a) Meeting Scheduled for April 5
FREEDOM COMMUNICATIONS: To Pay $514,000 to CBS, King World
GENERAL GROWTH: Pershing/Fairholme Offer $3.925-Bil. Investment
GENERAL GROWTH: Shares Resume Trading on the NYSE
GENERAL MOTORS: Extends Deadline to Sell Hummer to May 1

GENERAL MOTORS: Raises Investment Plan for Opel to US$2.58 Bil.
GENERAL MOTORS: Spyker Cars Finalizes Purchase of Saab
GENERAL MOTORS: Whitacre to Receive $9 Mil. as New CEO
GLASSLINE PARTNERSHIP: Plan of Reorganization Wins Court Approval
GOLD CANYON ESTATES: Case Summary & 3 Largest Unsecured Creditors

GOLDEN NUGGET: S&P Shifts Probability of Default Rating to 'Ca/LD'
GOODY'S LLC: Confirms Liquidating Chapter 11 Plan
GRIMES COUNTY: Chapter 9 Case Summary & Unsecured Creditors
HALCYON HOLDING: Gets Nod to Sell Terminator Rights to Pacificor
HARRAH'S ENTERTAINMENT: Lenders Amend Terms of $5.5-Bil. Loans

HARVEST ENERGY: S&P Raises Corporate Credit Rating to 'BB-'
HEARTLAND PUBLICATIONS: May Have Buyer for Three Newspapers
HOLLY ENERGY: Moody's Affirms Corporate Family Rating at 'Ba3'
HOVNANIAN ENTERPRISES: To Invest $40 Mil. to Newly Formed Company
HUDSON'S FURNITURE: Updated Chapter 11 Case Summary

INTERSTATE HOTELS: Dimensional Fund Holds 3.9% of Common Stock
INTERSTATE HOTELS: Keeley Asset Holds De Minimis Stake
INTERSTATE HOTELS: Renaissance Technologies No Longer Hold Shares
INTERSTATE HOTELS: Shareholders to Vote on Merger This Thursday
IPCS INC: Moody's Upgrades Ratings on Senior Notes to 'Ba2'

JAMES CLYDE HARVELL: Case Summary & 12 Largest Unsecured Creditors
JAMES MARTIN: Case Summary & 20 Largest Unsecured Creditors
JAYEL CORPORATION: Case Summary & 3 Largest Unsecured Creditors
JEFFERSON COUNTY: Ex-Birmingham Mayor Sentenced on Bond Deals
JETBLUE AIRWAYS: Fitch Affirms 'B-' Issuer Default Rating

JOAN MILLS: Case Summary & 7 Largest Unsecured Creditors
JOHN WILLIAM DOVGAN: Voluntary Chapter 11 Case Summary
KIM KREUNEN: Case Summary & 3 Largest Unsecured Creditors
KING RIDGE LLC: Case Summary & 5 Largest Unsecured Creditors
KINSLEY FOREST: Files for Bankruptcy to Restructure Partnership

KIRKLAND HUTCHESON: U.S. Trustee Unable to Appoint Creditors Panel
KIRKLAND HUTCHESON: Can Obtain Unsecured Loan from Interest Holder
KWITCHURBELIAKIN, LLC: Voluntary Chapter 11 Case Summary
L. C. TRUCKING: Case Summary & 20 Largest Unsecured Creditors
LANDAMERICA FIN'L: Wants Docs. Showing Broker-Dealers Miscues

LAS VEGAS TV: Files Schedules of Assets & Liabilities
LAS VEGAS TV: Section 341(a) Meeting Scheduled for April 1
LEHMAN BROTHERS: Bloomberg, Others Back Opening of Examiner Report
LEHMAN BROTHERS: LCPI Wins OK to Prepay Variable Funding Trusts
LEHMAN BROTHERS: Proposes Deal on JPM's $7.68 Bil. Claim

LEHMAN BROTHERS: Proposes to Pay Fees & Expenses of Cayman SPVs
LEHMAN BROTHERS: Seeks to Restructure Hilton's $21BB Loan
LEHMAN BROTHERS: To File Chapter 11 Plan by March 15
LIMITED BRANDS: Concludes Amendment & Extension of Credit Deal
LODGIAN INC: Sets April 15 Meeting to Approve Lone Star Merger

LOS ANGELES: Gives Tax Breaks to Internet Cos. Amid Budget Deficit
LUXOR BUILDING: Case Summary & 4 Largest Unsecured Creditors
MARGARET DAMIANI: Case Summary & 20 Largest Unsecured Creditors
MASCO CORPORATION: Fitch Assigns 'BB+' Rating on $500 Mil. Notes
MASCO CORPORATION: Moody's Assigns 'Ba2' Rating on Senior Notes

MAUREEN MORRILL: Case Summary & 19 Largest Unsecured Creditors
MCCLATCHY CO: Ariel Investments Holds 5.1% of Class A Shares
MCCLATCHY CO: Brandes Investment No Longer Holds Shares
MCCLATCHY CO: Chou Asia Fund Holds 3.0% of Class A Shares
MCGOWIN PATRICK: Files for Chapter 11 Bankruptcy

MEDICOR LTD: Court Okays Stipulation on Escrowed Funds Use
MEDICOR LTD: Unsecureds to Recover Up to 24.4%
MESA VERDE RE: Case Summary & 3 Largest Unsecured Creditors
METABASIS THERAPEUTICS: Earns $2.7 Million in Q3 2009
MIDWEST BANC: E.V. Silveri Holds 8.0% of Common Stock

MIDWEST BANC: M3 Funds Holds 9.2% of Series A Preferreds
MIDWAY GAMES: M. Booty Resigns as CEO, Will Remain as Chairman
MIDWEST BANC: Treasury Swaps Series T Preferred Shares
MORRIS PUBLISHING: Inks Indenture Agreement for New Notes
MOVIE GALLERY: Proposes Forshey as Special Counsel

MOVIE GALLERY: Proposes to Employ BPM as Auditors
MOVIE GALLERY: Wilmington Trust Opposes Moelis' $4.5MM Fee
MSJ INVESTMENT: Files List of 20 Largest Unsecured Creditors
MSJ INVESTMENT: Gets OK to Hire Gibson Nakamura as Bankr. Counsel
MSJ INVESTMENT: Schedules Filing Deadline Extended Until March 15

MSJ INVESTMENT: Section 341(a) Meeting Scheduled for March 25
MULTIPLAN INC: S&P Assigns 'B+' Rating on $315 Mil. Senior Loan
NATIONAL CONSUMER: S&P Cuts Counterparty Credit Rating to 'B/C'
NATIONAL GOLD: Bank to Liquidate Assets Under Chapter 7
NEW CENTURY: Reports $21.3 Million Net Loss in Q3 2009

NEW LUXURY MOTORS: Court Denies GMAC Bid to Transfer Case Venue
NEWLEAD HOLDINGS: Net Loss Widens to $163.6-Mil. in 2009
NGTV: Section 341(a) Meeting Scheduled for April 1
NICOLAS MARSCH: Section 341(a) Meeting Scheduled for March 23
NIKITAS FAMILY: Voluntary Chapter 11 Case Summary

NO 1 CONTRACTING: Files for Chapter 11 in Pennsylvania
NORTEL NETWORKS: Proposes Deal With Ex-Canadian Workers
NORTHCORE TECHNOLOGIES: Posts C$610,000 Net Loss in Q3 2009
NORTHWEST BOULEVARD: Case Summary & 2 Largest Unsecured Creditors
ORBITAL SCIENCES: Moody's Retains 'Ba1' Corporate Family Rating

OZBURN-HESSEY HOLDING: S&P Affirms 'B' Corporate Credit Rating
PACIFIC ETHANOL: Reaches Deals to Satisfy $34.7MM Debt
PARADISE VILLAGE CAR: Voluntary Chapter 11 Case Summary
PARLUX FRAGRANCES: Dimensional Fund Holds 7.78% of Common Stock
PATRICK WAYNE: Section 341(a) Meeting Scheduled for March 29

PENN TRAFFIC: Plan Exclusivity Extended to June 16
PENTON BUSINESS: Receives Confirmation of Prepack Plan
PETTERS GROUP: Prosecutors Want 335-Year Sentence for Founder
PROTECTIVE PRODUCTS: Completes Sec. 363 Sale to Sun Capital
QUEPASA CORPORATION: Reports $10.6 Million Net Loss in 2009

RAPID LINK: Acquires Mr. Prepaid; Senior Secured Debt Restructured
RAPID LINK: BlackBird Discloses 80% Equity Stake
RAPID LINK: PSource, Valens Report 9.99% Equity Stake
RAYMOND WU: Case Summary & 10 Largest Unsecured Creditors
RCN CORPORATION: S&P Retains 'B1' Corporate Family Rating

REDDY ICE: Unit Obtains Consent for Debt-Exchange
REDDY ICE: Unit Prices $270 Million Senior Sec. Notes Offering
REDDY ICE: Unit Prices Additional $30 Mil. Senior Secured Notes
REMEDIAL CYPRUS: To Auction Support Vessels in April
RICHARD BRUNSMAN: Case Summary & 20 Largest Unsecured Creditors

ROBERT KEITH MILLER: Case Summary & 20 Largest Unsecured Creditors
RYLAND GROUP: BlackRock Holds 8.24% of Common Stock
RYLAND GROUP: Dimensional Fund Holds 3.3% of Common Stock
RYLAND GROUP: Duquesne Capital No Longer Holds Shares
RYLAND GROUP: State Street Corp. Holds 6.4% of Common Stock

S. H. LEGGITT: Asks for Court's Nod to Use Cash Collateral
SALLY BEAUTY: Carol Bernick, Leonard Lavin Report Stake
SALLY BEAUTY: FMR, Fidelity Hold 13.407% of Common Stock
SAN WEST: Posts $262,184 Net Loss in Q3 2009
SCHWAB INDUSTRIES: Taps Hahn Loeser as Bankruptcy Counsel

SCHWAB INDUSTRIES: Gets OK to Hire Garden City as Claims Agent
SCHWAB INDUSTRIES: Wants April 15 Deadline for Schedules
SCHWAB INDUSTRIES: Wants Brouse McDowell as Special Counsel
SHAWN YODER: Case Summary & 20 Largest Unsecured Creditors
SIERRA KINGS: April 30 Deadline for Filing Proofs of Claim

SIX FLAGS: Posts $194.1 Million Net Loss in 2009
STERLING MINING: Kootenay Gold Joins Alberta's Bid to Acquire Firm
STRIVE ENTERPRISES: Selling Assets for $10,000
SWOOZIE'S INC: Eyes Rapid Asset Sale; Has $3.5MM DIP Loan
SWOOZIE'S INC: U.S. Trustee Appoints 7-Member Creditors Panel

SWORDFISH FINANCIAL: Posts $2.0 Million Loss in Q3 2009
THE PMI GROUP: Net Loss Narrows to $659.3 Million in 2009
THORNBURG MORTGAGE: April 21 Pre-Trial Conference on Trustee Suit
TOM HARMON LOGGING: Files for Chapter 11 Bankruptcy in Oregon
TOWER AUTOMOTIVE: To Sell $100 Million of Stock in IPO

TRIBUNE CO: Withdraws Motion for Bonuses to Top Officers
TRINITY FRECISION: Case Summary & 2 Largest Unsecured Creditors
TROPICANA ENTERTAINMENT: Emerges From Bankruptcy as Icahn Owned
TRUDY CORPORATION: Posts $75,549 Net Loss in Q3 Ended December 31
TRUMP ENTERTAINMENT: Gets Interim Access to Beal Bank Collateral

TWENTIETH & HIGHLAND: Voluntary Chapter 11 Case Summary
UAL CORP: Reports January 2010, Full Year 2009 Traffic Results
UAL CORP: Seeking DOT Nod to Serve Haneda Airport
U.S. CONCRETE: Gets Deficiency Notice From NASDAQ
U.S. DRY CLEANING: Case Summary & 20 Largest Unsecured Creditors

VISTEON CORP: Court Approves Fee Review Committee
VISTEON CORP: Disclosure Statement Hearing Moved to April 13
VISTEON CORP: Has Access to Cash Collateral Until March 17
VISTEON CORP: To Settle Condemnation Suit With Puerto Rico
VITERRA INC: S&P Raises Corporate Credit Rating From 'BB+'

VULCAN ADVANCED: Section 341(a) Meeting Scheduled for March 31
VULCAN ADVANCED: Wants March 16 Deadline for Filing of Schedules
WATERFORD PLACE: Case Summary & 4 Largest Unsecured Creditors
WAYNE STEPHEN: Case Summary & 20 Largest Unsecured Creditors
WCA WASTE: Moody's Affirms Corporate Family Rating at 'B1'

WEDGE ENERGY: Finalizes Flow-Through Waiver Agreement
WEST SIDE: Files for Chapter 11 Bankruptcy Due to Weak Economy
WICK BUILDING: Emerges From Bankruptcy; Founder Keeps Control
WINSTON PHARMACEUTICALS: Reports $2.7 Million Net Loss in 2009

* Failed Banks May Get Pension-Fund Backing
* FDIC Chair Says Bankruptcy Should Be 1st Choice
* Moody's: Global Default Rate Falls to 11.6% in February 2010

* Bankruptcy Lawyer Restrictions Upheld by Supreme Court
* Ex-Willkie Bankruptcy Partner Appointed to Bankruptcy Court

* Large Companies With Insolvent Balance Sheets


                            *********


ABITIBIBOWATER INC: Has Tentative Labor Deal with Canada Union
--------------------------------------------------------------
The Canadian Press reports that the Communications, Energy and
Paperworkers Union of Canada said Sunday AbitibiBowater Inc. has
reached a tentative labor deal affecting some 4,000 workers.

According to the report, the union said the tentative pact to
renew its collecting bargaining agreement was reached after
AbitibiBowater withdrew a proposal to terminate pension plans,
which would have reduced pension benefits an average of 25%.
According to the report, the union said the agreement will protect
its members from the plan's possible insolvency.  It must still be
presented to members and ratified by the union.

                     About AbitibiBowater Inc.

Headquartered in Montreal, Canada, AbitibiBowater Inc. --
http://www.abitibibowater.com/-- produces a wide range of
newsprint, commercial printing papers, market pulp and wood
products.  It is the eighth largest publicly traded pulp and paper
manufacturer in the world.  AbitibiBowater owns or operates 23
pulp and paper facilities and 28 wood products facilities located
in the United States, Canada, the United Kingdom and South Korea.
Marketing its products in more than 90 countries, the Company is
also among the world's largest recyclers of old newspapers and
magazines, and has third-party certified 100% of its managed
woodlands to sustainable forest management standards.
AbitibiBowater's shares trade over-the-counter on the Pink Sheets
and on the OTC Bulletin Board under the stock symbol ABWTQ.

The Company and several of its affiliates filed for protection
under Chapter 11 of the U.S. Bankruptcy Code on April 16, 2009
(Bankr. D. Del. Lead Case No. 09-11296).  Judge Kevin J. Carey
presides over the case.  The Company and its Canadian affiliates
commenced parallel restructuring proceedings under the Companies'
Creditors Arrangement Act before the Quebec Superior Court
Commercial Division the next day.  Alex F. Morrison at Ernst &
Young, Inc., was appointed CCAA monitor.

Paul, Weiss, Rifkind, Wharton & Garrison LLP, serves as the
Debtors' U.S. bankruptcy counsel.  Stikeman Elliot LLP, acts as
the Debtors' CCAA counsel.  Young, Conaway, Stargatt & Taylor, in
Wilmington, Delaware, serves as the Debtors' co-counsel, while
Troutman Sanders LLP in New York, serves as the Debtors' conflicts
counsel in the Chapter 11 proceedings.  The Debtors' financial
advisors are Advisory Services LP, and their noticing and claims
agent is Epiq Bankruptcy Solutions LLC.  The CCAA Monitor's
counsel is Thornton, Grout & Finnigan LLP, in Toronto, Ontario.
Abitibi-Consolidated Inc. and various Canadian subsidiaries filed
for protection under Chapter 15 of the U.S. Bankruptcy Code on
April 17, 2009 (Bankr. D. Del. 09-11348).  Judge Carey also
handles the Chapter 15 case.  Pauline K. Morgan, Esq., and Sean T.
Greecher, Esq., at Young, Conaway, Stargatt & Taylor, in
Wilmington, represent the Chapter 15 Debtors.

As of Sept. 30, 2008, the Company had $9,937,000,000 in total
assets and $8,783,000,000 in total debts.

Bankruptcy Creditors' Service, Inc., publishes AbitibiBowater
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings and parallel proceedings under the
Companies' Creditors Arrangement Act in Canada undertaken by
Abitibibowater Inc. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


ABITIBIBOWATER INC: Further Amends E&Y Scope of Work
----------------------------------------------------
AbitibiBowater Inc. and its units ask the U.S. Bankruptcy Court to
approve a further amended statement of work with respect to the
services to be rendered by Ernst & Young LLP.  E&Y is uniquely
suited to provide the Additional Tax Services because the firm has
already been providing tax compliance and other services in the
Chapter 11 cases of the Debtors, Sean T. Greecher, Esq., at Young
Conaway Stargatt & Taylor, LLP, in Wilmington, Delaware, says.

The Debtors specifically seek to expand the scope of the
employment of E&Y in providing additional tax services,
consisting of state, local and indirect bankruptcy tax work or
the "SALT Services," upon the terms and conditions contained in
the additional statement of work, nunc pro tunc to January 11,
2010, which include:

  (a) tax advisory services regarding the validity of tax claims
      in order to determine if the tax amount claimed correctly
      reflects the true tax liability pursuant to applicable tax
      law and/or bankruptcy protocols, including assistance with
      state and local tax examinations that may be ongoing in
      support of tax claims filed and tax advisory support for
      identifying and securing tax refunds;

  (b) advisory services and documentation, as appropriate or
      necessary, related to state and local bankruptcy tax
      analysis, and bankruptcy tax process and procedure
      support; and

  (c) testimony as a fact, but not expert, witness regarding E&Y
      work done on AbitibiBowater's state and local tax
      bankruptcy issues.

Although the Debtors do not anticipate significant fees to be
incurred for the SALT Services, they seek to utilize E&Y's
expertise as the Chapter 11 claims are processed, Mr. Greecher
notes.

In addition, the Debtors will also require E&Y to assist them
with a potential Multistate Tax Commission election and
associated amended Michigan Business Tax return or the "MTC
Services," upon the terms and conditions contained in the
additional statement of work, nunc pro tunc to December 7, 2009,
which include:

  (a) analysis of AbitibiBowater's Michigan Business Tax return
      for the 2008 calendar year;

  (b) analysis of potential benefit arising from the MTC
      election available under Michigan law; and

  (c) implementation of the MTC election.

E&Y has been diligently reviewing a recently enacted Michigan
statute and apprising the Debtors of potential benefits that may
stem from its application to the Debtors' payment of Michigan
business taxes.  The Debtors propose to retain E&Y on a
contingency basis for the MTC Services.  Consequently, the
Debtors will only distribute the Savings Fee to E&Y if, and when,
they are awarded a tax refund, a credit for taxes previously paid
in prior periods, and a reduction in audit assessments.

The Debtors will pay for the services of E&Y's professionals in
accordance with these hourly rates:

   Title                            Hourly Rate
   -----                            -----------
   National Principal/Partner          $630
   Core Team Principal/Partner         $500
   National Executive Director         $570
   Core Team Executive Director        $475
   National Senior Manager             $500
   Senior Manager                      $410
   Manager                             $310
   Senior 3                            $240
   Senior 2                            $220
   Senior 1                            $200
   Staff                               $150
   Intern                              $105

According to Mr. Greecher, the Debtors and E&Y have agreed to a
findings-based fee in the amount of 25% of the gross savings
achieved with respect to the MTC Services.  Gross Savings refers
to the inclusion of refunds of taxes plus interest, credits of
taxes previously paid in prior periods, and reduction in audit
assessments.

The Savings Fee arrangement contemplated is reasonable in light
of industry practice, market rates both in and out of Chapter 11
proceedings, E&Y's experience in these matters, and the scope of
work to be performed by E&Y, Mr. Greecher avers.

In addition, the Debtors will reimburse E&Y for expenses incurred
in connection with the firm's performance of the Additional Tax
Services.

E&Y is a "disinterested person," as the term is defined under
Section 101(14) of the Bankruptcy Code, Terry Huggins, a partner
of E&Y, assures Judge Carey.

                     About AbitibiBowater Inc.

Headquartered in Montreal, Canada, AbitibiBowater Inc. --
http://www.abitibibowater.com/-- produces a wide range of
newsprint, commercial printing papers, market pulp and wood
products.  It is the eighth largest publicly traded pulp and paper
manufacturer in the world.  AbitibiBowater owns or operates 23
pulp and paper facilities and 28 wood products facilities located
in the United States, Canada, the United Kingdom and South Korea.
Marketing its products in more than 90 countries, the Company is
also among the world's largest recyclers of old newspapers and
magazines, and has third-party certified 100% of its managed
woodlands to sustainable forest management standards.
AbitibiBowater's shares trade over-the-counter on the Pink Sheets
and on the OTC Bulletin Board under the stock symbol ABWTQ.

The Company and several of its affiliates filed for protection
under Chapter 11 of the U.S. Bankruptcy Code on April 16, 2009
(Bankr. D. Del. Lead Case No. 09-11296).  Judge Kevin J. Carey
presides over the case.  The Company and its Canadian affiliates
commenced parallel restructuring proceedings under the Companies'
Creditors Arrangement Act before the Quebec Superior Court
Commercial Division the next day.  Alex F. Morrison at Ernst &
Young, Inc., was appointed CCAA monitor.

Paul, Weiss, Rifkind, Wharton & Garrison LLP, serves as the
Debtors' U.S. bankruptcy counsel.  Stikeman Elliot LLP, acts as
the Debtors' CCAA counsel.  Young, Conaway, Stargatt & Taylor, in
Wilmington, Delaware, serves as the Debtors' co-counsel, while
Troutman Sanders LLP in New York, serves as the Debtors' conflicts
counsel in the Chapter 11 proceedings.  The Debtors' financial
advisors are Advisory Services LP, and their noticing and claims
agent is Epiq Bankruptcy Solutions LLC.  The CCAA Monitor's
counsel is Thornton, Grout & Finnigan LLP, in Toronto, Ontario.
Abitibi-Consolidated Inc. and various Canadian subsidiaries filed
for protection under Chapter 15 of the U.S. Bankruptcy Code on
April 17, 2009 (Bankr. D. Del. 09-11348).  Judge Carey also
handles the Chapter 15 case.  Pauline K. Morgan, Esq., and Sean T.
Greecher, Esq., at Young, Conaway, Stargatt & Taylor, in
Wilmington, represent the Chapter 15 Debtors.

As of Sept. 30, 2008, the Company had $9,937,000,000 in total
assets and $8,783,000,000 in total debts.

Bankruptcy Creditors' Service, Inc., publishes AbitibiBowater
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings and parallel proceedings under the
Companies' Creditors Arrangement Act in Canada undertaken by
Abitibibowater Inc. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


ABITIBIBOWATER INC: Expands Scope of PWC Canada Services
--------------------------------------------------------
AbitibiBowater Inc. and its units seek to expand the scope of the
retention and employment of PricewaterhouseCoopers LLP (Canada) to
include 2010 tax harmonization services, nunc pro tunc to January
14, 2010, upon the terms and conditions contained in a certain
engagement agreement.

The Debtors have employed PwC Canada for the provision of audit,
audit-related and tax services, nunc pro tunc to the Petition
Date.

Pursuant to the 2010 Tax Harmonization Engagement Agreement, PwC
will perform the 2010 Tax Harmonization Services, which include:

  (a) the preparation of an e-mail to inform key employees of
      the Debtors of the sales tax harmonization and its
      projected impact on the Debtors' operations;

  (b) the coordination of an initial meeting with designated
      personnel to provide them with an overview of the
      Harmonization, the implementation process and the related
      training of employees;

  (c) the coordination of brainstorming sessions with key
      personnel of the Debtors to assess the impact of the new
      Harmonized Sales Tax on the Debtors' operations and
      systems;

  (d) the provision of training sessions to the employees
      working in the Debtors' payables and procurement
      departments to facilitate a greater understanding of the
      new HST rules; and

  (e) the provision of assistance to the Debtors in performing
      studies to evaluate the percentage of energy used in the
      production of goods for sale at various manufacturing
      plants.

PwC Canada will be paid in accordance with these hourly rates:

  Professional                                  Hourly Rate
  ------------                                  -----------
  Partner/Associate Partner                     C$615-C$680
  Senior Manager/Manager                        C$425-C$600
  Senior Associate/Associate                    C$175-C$300
  Paraprofessional & Administrative Assistant   C$100-C$140

In addition, the Debtors have agreed to reimburse PwC Canada for
reasonable and documented expenses the firm incurred or will
incur in connection with the performance of the 2010 Tax
Harmonization Services.

The PwC Canada professionals providing the 2010 Tax Harmonization
Services will consult with internal PwC Canada and
PricewaterhouseCoopers LLP US advisors to ensure compliance with
the requirements of the Bankruptcy Code, as well as to decrease
the overall fees associated with the administrative aspects of
PwC Canada postpetition engagements.

The 2010 Tax Harmonization Engagement Agreement provides that the
Debtors will indemnify PwC Canada and its personnel,
subcontractors and agents under certain circumstances.

Jerry Whalen, a partner at PWC Canada, assures the Court that his
firm is a "disinterested person" as the term defined under
Section 101(14) of the Bankruptcy Code.

                     About AbitibiBowater Inc.

Headquartered in Montreal, Canada, AbitibiBowater Inc. --
http://www.abitibibowater.com/-- produces a wide range of
newsprint, commercial printing papers, market pulp and wood
products.  It is the eighth largest publicly traded pulp and paper
manufacturer in the world.  AbitibiBowater owns or operates 23
pulp and paper facilities and 28 wood products facilities located
in the United States, Canada, the United Kingdom and South Korea.
Marketing its products in more than 90 countries, the Company is
also among the world's largest recyclers of old newspapers and
magazines, and has third-party certified 100% of its managed
woodlands to sustainable forest management standards.
AbitibiBowater's shares trade over-the-counter on the Pink Sheets
and on the OTC Bulletin Board under the stock symbol ABWTQ.

The Company and several of its affiliates filed for protection
under Chapter 11 of the U.S. Bankruptcy Code on April 16, 2009
(Bankr. D. Del. Lead Case No. 09-11296).  Judge Kevin J. Carey
presides over the case.  The Company and its Canadian affiliates
commenced parallel restructuring proceedings under the Companies'
Creditors Arrangement Act before the Quebec Superior Court
Commercial Division the next day.  Alex F. Morrison at Ernst &
Young, Inc., was appointed CCAA monitor.

Paul, Weiss, Rifkind, Wharton & Garrison LLP, serves as the
Debtors' U.S. bankruptcy counsel.  Stikeman Elliot LLP, acts as
the Debtors' CCAA counsel.  Young, Conaway, Stargatt & Taylor, in
Wilmington, Delaware, serves as the Debtors' co-counsel, while
Troutman Sanders LLP in New York, serves as the Debtors' conflicts
counsel in the Chapter 11 proceedings.  The Debtors' financial
advisors are Advisory Services LP, and their noticing and claims
agent is Epiq Bankruptcy Solutions LLC.  The CCAA Monitor's
counsel is Thornton, Grout & Finnigan LLP, in Toronto, Ontario.
Abitibi-Consolidated Inc. and various Canadian subsidiaries filed
for protection under Chapter 15 of the U.S. Bankruptcy Code on
April 17, 2009 (Bankr. D. Del. 09-11348).  Judge Carey also
handles the Chapter 15 case.  Pauline K. Morgan, Esq., and Sean T.
Greecher, Esq., at Young, Conaway, Stargatt & Taylor, in
Wilmington, represent the Chapter 15 Debtors.

As of Sept. 30, 2008, the Company had $9,937,000,000 in total
assets and $8,783,000,000 in total debts.

Bankruptcy Creditors' Service, Inc., publishes AbitibiBowater
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings and parallel proceedings under the
Companies' Creditors Arrangement Act in Canada undertaken by
Abitibibowater Inc. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


ABITIBIBOWATER INC: Imerys Gets Nod for Administrative Claims
-------------------------------------------------------------
The Bankruptcy Court ruled that Imerys Clays, Inc., will have an
allowed administrative expense claim for $396,953 against Bowater
Incorporated pursuant to Section 503(b)(9) of the Bankruptcy
Code.  Imerys Canada, L.P., will have an allowed administrative
expense claim against Bowater Canadian Forest Products Inc. for
$296,559.

Payment of the Allowed Administrative Claims will be made in
accordance with the terms of any plan of reorganization
ultimately confirmed in the Chapter 11 cases of the Debtors, or
at another time as the Court may so direct.

The rights of the Claimants and the Debtors with respect to these
Disallowed Claims are expressly reserved:

  (i) the general unsecured portion of Claim NO. 2869 against
      BCFPI totaling $396,725;

(ii) the general unsecured portion of Claim No. 2867 against
      AbitibiBowater Inc. totaling $1,598,864; and

(iii) the general unsecured portion of Claim No. 2868 against
      Bowater totaling $1,598,864.

The rights of the Claimants to seek recovery or receive
distribution on account of $38,181, for which the Claimants
sought to be allowed as a priority claim under Section 503(b)(9),
are reserved.

The Court's order is consistent with an agreement reached between
the Debtors and the Claimants, with respect to goods sold and
delivered on credit during the 20-day period prior to the
Petition Date.

                Debtors & Paw Paw Resolve Dispute

In a separate filing, the Debtors said that it reached a
consensual resolution settling the administrative claim filed by
Paw Paw Partners.  Specifically, the parties agreed that Paw Paw
will be allowed:

  (i) an administrative expense claim against Bowater, Inc., for
      $185,663; and

(ii) a general unsecured non-priority claim for $168,855.

Thereafter, Paw Paw will file a claim amending and reducing its
Claim No. 2482 by $466,950.  Bowater reserves its rights to
object to the remaining amounts set under the Amended Claim, and
to any other claim filed by Paw Paw in the Debtors' Chapter 11
cases.

The parties ask Judge Carey to approve their settlement
agreement.

                     About AbitibiBowater Inc.

Headquartered in Montreal, Canada, AbitibiBowater Inc. --
http://www.abitibibowater.com/-- produces a wide range of
newsprint, commercial printing papers, market pulp and wood
products.  It is the eighth largest publicly traded pulp and paper
manufacturer in the world.  AbitibiBowater owns or operates 23
pulp and paper facilities and 28 wood products facilities located
in the United States, Canada, the United Kingdom and South Korea.
Marketing its products in more than 90 countries, the Company is
also among the world's largest recyclers of old newspapers and
magazines, and has third-party certified 100% of its managed
woodlands to sustainable forest management standards.
AbitibiBowater's shares trade over-the-counter on the Pink Sheets
and on the OTC Bulletin Board under the stock symbol ABWTQ.

The Company and several of its affiliates filed for protection
under Chapter 11 of the U.S. Bankruptcy Code on April 16, 2009
(Bankr. D. Del. Lead Case No. 09-11296).  Judge Kevin J. Carey
presides over the case.  The Company and its Canadian affiliates
commenced parallel restructuring proceedings under the Companies'
Creditors Arrangement Act before the Quebec Superior Court
Commercial Division the next day.  Alex F. Morrison at Ernst &
Young, Inc., was appointed CCAA monitor.

Paul, Weiss, Rifkind, Wharton & Garrison LLP, serves as the
Debtors' U.S. bankruptcy counsel.  Stikeman Elliot LLP, acts as
the Debtors' CCAA counsel.  Young, Conaway, Stargatt & Taylor, in
Wilmington, Delaware, serves as the Debtors' co-counsel, while
Troutman Sanders LLP in New York, serves as the Debtors' conflicts
counsel in the Chapter 11 proceedings.  The Debtors' financial
advisors are Advisory Services LP, and their noticing and claims
agent is Epiq Bankruptcy Solutions LLC.  The CCAA Monitor's
counsel is Thornton, Grout & Finnigan LLP, in Toronto, Ontario.
Abitibi-Consolidated Inc. and various Canadian subsidiaries filed
for protection under Chapter 15 of the U.S. Bankruptcy Code on
April 17, 2009 (Bankr. D. Del. 09-11348).  Judge Carey also
handles the Chapter 15 case.  Pauline K. Morgan, Esq., and Sean T.
Greecher, Esq., at Young, Conaway, Stargatt & Taylor, in
Wilmington, represent the Chapter 15 Debtors.

As of Sept. 30, 2008, the Company had $9,937,000,000 in total
assets and $8,783,000,000 in total debts.

Bankruptcy Creditors' Service, Inc., publishes AbitibiBowater
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings and parallel proceedings under the
Companies' Creditors Arrangement Act in Canada undertaken by
Abitibibowater Inc. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000).


AGCO CORP: S&P Raises Corporate Credit Rating From 'BB+'
--------------------------------------------------------
Standard & Poor's Ratings Services raised its ratings on AGCO
Corp., including the corporate credit rating to 'BBB-' from 'BB+'.
"The ratings reflect S&P's expectation that AGCO will maintain
investment-grade credit measures and its view that the company has
maintained a satisfactory business risk profile," said Standard &
Poor's credit analyst Dan Picciotto.  "AGCO has reduced funded
debt levels since it acquired Valtra Corp. (tractor and diesel
engine operations) in 2004, while maintaining its good position in
the global agricultural equipment market," he continued.  Over
this period, the company has focused on improving its operating
efficiency and on organic growth.  In spite of the downturn in
2009 and some potential further declines in 2010, long-term
fundamentals for the agricultural equipment industry appear sound.

Due to the investment-grade ratings, its recovery methodology is
no longer applicable and as a result, S&P has withdrawn the '5'
recovery rating on the company's senior subordinated debt.

While the operating environment could continue to weaken somewhat
this year, AGCO appears well-positioned to manage the downturn.
S&P is unlikely to raise the ratings in the near term and would
probably require AGCO to demonstrate improved profitability or for
it to pursue more conservative financial policies.  Alternatively,
S&P could lower the ratings if credit measures weaken meaningfully
because of deteriorating operating performance or shareholder-
friendly activity.  For instance, if funds from operations to
total adjusted debt declines and remains at less than 20%, S&P
could lower the ratings.



AGRIPROCESSORS INC: Ex-CEO Loses Bid for Acquittal, New Trial
-------------------------------------------------------------
WCF Courier reports that U.S. District Chief Judge Linda Reade in
Dubuque, Iowa, denied former Agriprocessors executive Sholom
Rubashkin's motions for acquittal and a new trial.  WCF Courier
says Judge Reade ruled sufficient evidence did exist for Mr.
Rubashkin's conviction on 86 counts and that none of the grounds
argued in his motions suggest the need for a second trial.

Mr. Rubashkin was convicted of bank fraud.  Dow Jones Newswires'
Jacqueline Palank says Mr. Rubashkin had argued that a new trial
was needed in light of the exclusion of some of his defense
witnesses and of flawed jury instructions, among other things.

In February, The Associated Press said Mr. Rubashkin lost two
appeals for his request to be released on bail while he awaits
sentencing.  The AP said the 8th Circuit Court of Appeals declined
to hear a petition from Mr. Rubashkin and also declined to have a
rehearing from a smaller panel of three judges on the same matter.

                     About Agriprocessors Inc.

Headquartered in Postville, Iowa, Agriprocessors Inc. --
http://www.agriprocessor.com/-- operated a kosher meat and
poultry packing processors located at 220 North West Street.  The
Company maintains an executive office with 50 employees at 5600
First Avenue in Brooklyn, New York.  The Company filed for Chapter
11 protection on November 4, 2008 (Bankr. E.D.N.Y. Case No. 08-
47472).  The case, according to McClatchy-Tribune, has been
transferred to Iowa.  Kevin J. Nash, Esq., at Finkel Goldstein
Rosenbloom & Nash, represents the Company in its restructuring
effort.  In its petition, the Company listed assets of
$100 million to $500 million and debts of $50 million to
$100 million.

Agriprocessors Inc.'s reorganization case has been converted to
liquidation under Chapter 7, at the consent of the Chapter 11
trustee appointed to take over the estate.  The Chapter 11 trustee
will now serve as trustee in the Chapter 7 case to liquidate the
Debtor's remaining assets and provide distributions to creditors.


ALION SCIENCE: Moody's Assigns 'B1' Ratings on Two Notes
--------------------------------------------------------
Moody's Investors Service has assigned B1 ratings to both the
planned $25 million first lien, first out revolver and
$300 million first lien, last out notes of Alion Science and
Technology Corporation.  The planned debts are to replace the
company's existing credit facility and extinguish the existing
subordinated notes and related warrants.  Alion's current ratings
remain unchanged.  Following close of the transaction, Moody's
expects to upgrade the corporate family and probability of default
ratings to Caa1 from Caa3, the $250 million senior unsecured notes
rating to Caa2 from Ca, and the speculative grade liquidity rating
to SGL-3 from SGL-4.  As well, at close of the planned
transaction, the ratings outlook would change to stable from
negative.  The B1 ratings assigned the planned first lien debts
contemplate the aforementioned corporate family and probability of
default rating upgrades.

At transaction close, the upgrades and the outlook stabilization
would reflect a much improved liquidity profile that will follow
the transaction.  Alion's financial flexibility would improve as
restrictive provisions from the existing bank credit agreement
would cease to constrain the company and better ensure ongoing
access to a long-term credit line.  Alion's low asset intensity
adds some confidence that the company could meet its cash needs,
despite low interest coverage, as it pursues 2010-2011 internal
growth aims.

The Caa1 corporate family rating would balance the continued high
leverage against a promising business backlog that could sustain
the good 2009 revenue growth rate, though credit challenges would
remain pronounced.  High, ongoing internal revenue growth will be
necessary for material debt reduction to occur.  The Caal would
acknowledge that, following the transaction, approximately
$52 million of subordinated notes and related warrants would be
extinguished for $25 million, a slight debt decline.  (Proforma
for the transaction total leverage would approximate 8.8 times.)
With limited capital spending needs and the company's plan to
further working capital efficiencies, high backlog could convert
to earnings and permit material de-levering.  However, the U.S.
government's expected intermediate-term fiscal deficits and
competition between defense service contractors could challenge
performance aims as well.  All these conflicting factors -- an
enhanced liquidity profile but weak interest coverage, and need to
sustain high revenue growth as competition rises -- would
underscore the Caa1 corporate family rating.

The upgrade of the senior unsecured note rating that would follow
transaction close encompasses the Caa1 CFR and probability of
default rating expectation, incorporating Alion's planned capital
structure change on Moody's Loss Given Default Methodology.

The speculative grade liquidity rating of SGL-4 (weak) would be
raised to SGL-3 (adequate) following close of the transaction
since Moody's anticipates an improved cash balance would follow,
near-term covenant issues would not be a problem, and expectation
that cash operating deficits should be minimal.

Ratings:

  -- Corporate family and probability of default affirmed at Caa3,
     would go to Caa1 at transaction close

  -- $25 million first lien revolver due 9/10 affirmed at B3 LGD2,
     16%, would be withdrawn at transaction close

  -- $232 million first lien term loan B due 2/13 affirmed at B3
     LGD2, 16%, would be withdrawn at transaction close

  -- $250 million unsecured notes due 2/15 affirmed at Ca LGD4,
     67%, would change to Caa2 LGD5, 78% at transaction close

  -- Speculative grade liquidity affirmed at SGL-4, would change
     to SGL-3 at transaction close

New ratings assigned:

  -- $25 million first lien, first out revolver due 10/14 assigned
     B1 LGD1, 0%

  -- $300 million first lien, last out notes due 11/14 assigned B1
     LGD2, 23%

Ratings assigned herein are subject to review of final
documentation.  Moody's last rating action on Alion occurred
January 13, 2010, when the probability of default rating was
upgraded to Caa3 from Ca/LD.

Alion Science and Technology Corporation is an employee-owned
company that provides scientific research, development, and
engineering services related to national defense, homeland
security, and energy and environmental analysis.  Particular areas
of expertise include naval architecture and engineering,
communications, wireless technology, netcentric warfare, modeling
and simulation, chemical and biological warfare, and program
management.  Revenue in the last twelve month period ended
December 31, 2009, was approximately $819 million.


ALION SCIENCE: S&P Assigns 'B' Rating on $300 Mil. Senior Notes
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B' long-
term issue rating to technology solutions company Alion Science
and Technology Corp.'s proposed $300 million senior secured notes
maturing in November 2014 with detachable warrants.  S&P assigned
a recovery rating of '2' to this debt, reflecting expectations for
substantial (70%-90%) recovery for creditors in the event of a
payment default.  At the same time, S&P affirmed the company's 'B-
' corporate credit rating.

S&P also assigned a 'B+' rating to the company's new $25 million
revolver maturing October 2014, with a recovery rating of '1',
indicating expectations of very high (90%-100%) recovery for
creditors in the event of a payment default.

"In addition, S&P revised the outlook to stable from negative,"
said Standard & Poor's credit analyst Jennifer Pepper, "because
while not a delevering transaction, the refinancing alleviates
covenant concerns and provides liquidity with a new, extended
revolver."

The proceeds from the new senior secured notes will be used to
repay the $236.6 million outstanding borrowings under the existing
term loan and to retire, at a discount, subordinated payment-in-
kind (PIK) notes and warrants.  Approximately $15 million in cash
will be available to the company after fees.

The $25 million revolving credit facility will be undrawn at close
and will not be subject to a maximum leverage covenant or an
interest coverage covenant, which had been the most restrictive
covenants in the former capital structure.  Instead, the revolving
credit facility will have a minimum EBITDA covenant.  The new
senior secured notes are subject only to incurrence based
covenants.

"The ratings reflect the company's second-tier position in the
highly competitive and consolidating government IT services market
and very high debt leverage," said Ms. Pepper.  A predictable
revenue stream based on a strong backlog and the expectation that
the budgets of Alion's federal agency customers will continue to
grow over the intermediate term are partial offsets to these
factors.


AMBRILIA BIOPHARMA: P. Schmelck Resigns from Board
--------------------------------------------------
Ambrilia Biopharma Inc. said that Dr. Paul-Henry Schmelck has
resigned as a member of its Board of Directors for personal
reasons, effective immediately.  Mr. Frederic Porte, Chairman of
the Board of Directors of Ambrilia stated "On behalf of the Board,
I wish to thank Paul-Henry for his significant contribution to
Ambrilia since he joined the Board in 2007."

Any recovery for creditors and other stakeholders, including
shareholders, is uncertain and is highly dependent upon a number
of factors, including the outcome of Ambrilia proceedings under
the ("CCAA").

                     About Ambrilia Biopharma

Ambrilia Biopharma Inc. is a biotechnology company focused on the
discovery and development of novel treatments for viral diseases
and cancer.  The Company's strategy aims to capitalize on its
broad portfolio and original expertise in virology.  Ambrilia's
product portfolio is comprised of oncology and antiviral assets,
including two new formulations of existing peptides for cancer
treatment, a targeted delivery technology for cancer, an HIV
protease inhibitor program as well as HIV integrase and entry
inhibitors, Hepatitis C virus inhibitors and anti-Influenza A
compounds.  Ambrilia's head office, research and development and
manufacturing facilities are located in Montreal.

The Company is currently subject to court protection under the
CCAA.


AMERICAN CLAIMS: Gets Deficiency Letter from Nasdaq
---------------------------------------------------
American Claims Evaluation, Inc., received a deficiency letter
from The Nasdaq Stock Market indicating that the closing bid price
of its common stock had fallen below $1.00 for 30 consecutive
business days, and therefore, the Company was not in compliance
with Nasdaq Listing Rule 5550(a)(2).  In accordance with Nasdaq
Listing Rule 5810(c)(3)(A), the Company was provided a grace
period of 180 calendar days, or until August 30, 2010, to regain
compliance with this requirement.  At this time, this notification
has no effect on the listing of the Company's common stock on The
Nasdaq Capital Market.

The Company can regain compliance with the minimum closing bid
price rule if the bid price of its common stock closes at $1.00 or
higher for a minimum of 10 consecutive business days during the
initial 180 calendar day grace period, although Nasdaq may, in its
discretion, require the Company to maintain a bid price of at
least $1.00 per share for a period in excess of 10 consecutive
business days (but generally no more than 20 consecutive business
days) before determining that the Company has demonstrated the
ability to maintain long-term compliance.  If compliance is not
achieved by August 30, 2010, the Company may be eligible for an
additional 180 calendar day grace period if it meets The Nasdaq
Capital Market initial listing criteria as set forth in Nasdaq
Listing Rule 5505 other than the minimum closing bid price
requirement.  If the Company is not eligible for such additional
grace period, or does not regain compliance during any additional
grace period, Nasdaq will provide written notice to the Company
that its securities will be delisted from The Nasdaq Capital
Market. At such time, the Company would be able to appeal the
delisting determination to the Nasdaq Listing Qualifications
Department.

                   About American Claims

American Claims Evaluation, Inc., through its wholly owned
subsidiary, Interactive Therapy Group Consultants, Inc., offers a
comprehensive range of services to children with developmental
delays and disabilities.


AMERICAN GENERAL FINANCE: Reports $477.7 Million Net Loss in 2009
-----------------------------------------------------------------
American General Finance, Inc., filed its annual report on Form
10-K, showing a net loss of $477.7 million on $2.3 billion of
revenue for 2009, compared with a net loss of $1.3 billion on
$2.8 billion of revenue for 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$22.8 billion in assets, $20.9 billion of debts, and $1.9 billion
of stockholders' equity.

PricewaterhouseCoopers LLP, in Chicago, Illinois, said that the
Company is dependent upon the continued financial support of its
ultimate parent company, American International Group, Inc., to
meet its financial obligations as they become due and to support
its ongoing operations.  Due to a combination of the challenges
facing AIG, its dependency on AIG, its liquidity concerns, its
results of operations, downgrades of its credit ratings by the
rating agencies, and the turmoil in the capital markets, the
Company currently has no access to the unsecured debt market, and
the maximum amount of its credit facilities has been drawn.

A full-text copy of the annual report is available for free at:

              http://researcharchives.com/t/s?5743

                            About AGFI

Evansville, Ind.-based American General Finance, Inc., was
incoporated in Indiana is 1974 to become the parent holding
company of American General Finance Corporation.  AFGC is a
financial services holding company with subsidiaries engaged in
the consumer finance and credit insurance businesses.  Effective
June 29, 2007, AGFI became a direct wholly owned subsidiary of AIG
Capital Corporation, a direct wholly owned subsidiary of American
International Group, Inc.


AMERICAN INT'L: Unveils $15.5-Bil. Deal to Sell ALICO to Metlife
----------------------------------------------------------------
American International Group, Inc., on Monday unveiled a
definitive agreement for the sale of American Life Insurance
Company, one of the world's largest and most diversified
international life insurance companies, to MetLife, Inc., for
roughly $15.5 billion, including $6.8 billion in cash and the
remainder in equity securities of MetLife, subject to closing
adjustments.  The cash portion of the proceeds from the sale will
be used to reduce the liquidation preference of the Federal
Reserve Bank of New York in the special purpose vehicle formed by
AIG and the FRBNY to hold the interests in ALICO.

"This sale is an important step toward repaying the government.
ALICO is a unique international life insurer, and we view this as
a terrific combination that will further enhance the company's
potential over the long term. With this sale of ALICO, along with
the sale of AIA to Prudential plc announced last week, we are on
track to generate roughly $50.7 billion from these two
transactions alone, consisting of roughly $31.5 billion in cash to
repay the FRBNY, plus another roughly $19.2 billion in securities
that we will sell over time to repay the government.  In addition,
both sales give AIG greater flexibility to move forward with our
restructuring and rebuilding efforts, and focus on enhancing the
value of our key insurance businesses," said Harvey Golub,
Chairman of the AIG Board of Directors.

On December 1, 2009, the FRBNY received preferred interests in the
ALICO SPV with a liquidation preference of $9 billion.
Accordingly, upon the closing of this sale of ALICO, the ALICO SPV
will receive and pay to the FRBNY roughly $6.8 billion in cash,
and the ALICO SPV will hold the remainder of the transaction
consideration, consisting of 78,239,712 shares of common stock,
6,857,000 shares of newly issued participating preferred stock
convertible into 68,570,000 shares of common stock upon approval
of MetLife shareholders, and 40,000,000 equity units of MetLife
with a liquidation preference of $3 billion.

The ALICO SPV intends to monetize the MetLife securities over
time, subject to market conditions, following the lapse of agreed-
upon minimum holding periods.  The ALICO SPV will then apply the
resulting cash proceeds first to pay the remainder of the
liquidation preference of the preferred interests held by the
FRBNY in the ALICO SPV and afterwards to continue paying down
AIG's FRBNY credit facility.

Rodney O. Martin, Jr., Chairman and Chief Executive Officer of
ALICO, stated, "Our entire organization is excited about this
transaction. MetLife is a well-respected, financially strong
institution in which our customers, distributors, and employees
can have confidence. We look forward to a smooth transition and a
bright future as part of MetLife's International Business team,
combining our global footprints and successful business models to
create an unrivalled global life insurance franchise."

Founded in 1921, ALICO is a multinational life insurer that
provides consumers and businesses with products and services for
life insurance, accident and health insurance, retirement
planning, and wealth management solutions.  The transaction
includes all of ALICO, including the company's roughly 60,000
points of distribution, including agents, brokers and financial
institutions; 12,500 employees across more than 50 countries; and
20 million customers worldwide. The transaction also includes
ALICO's Global Benefits Network serving U.S. and foreign
multinationals. In 2008, ALICO had total statutory revenue of
$32.3 billion and $1.3 billion in after-tax operating income. As
of December 31, 2008, ALICO had $89 billion in assets under
management.

AIG is assessing the financial statement effects of the
transaction, including the timing and recognition of gain or loss
on the sale. In addition, as disclosed in its 2009 Form 10-K, AIG
is assessing the recoverability of goodwill.

The transaction has been approved by the boards of directors of
both MetLife and AIG, and is expected to close by the end of the
year.  The transaction is subject to certain domestic and
international regulatory approvals and customary closing
conditions.

ALICO has branch offices, subsidiaries and affiliates in emerging,
developing and developed markets in Europe, Asia, the Middle East,
Africa and Latin America. ALICO is domiciled in Wilmington,
Delaware, and has regional headquarters in Tokyo, London, Paris,
Athens, Dubai, and Santiago, Chile.

                    Metlife Sees Earnings Increase

"With this acquisition, MetLife is delivering on its strategy to
accelerate international expansion as a powerful growth engine for
the company," said C. Robert Henrikson, chairman, president and
chief executive officer of MetLife, Inc.  "Today's transaction
will bring together two profitable, complementary, well-
established businesses with superb track records and strong long-
term growth potential.  We expect it will increase MetLife's
return on equity and be accretive to operating earnings."

MetLife expects the transaction to increase its 2011 operating
earnings per share by approximately $0.45 to $0.55 per share, and
enable the company to increase its estimated 2011 year-end
operating return on equity by 140 to 160 basis points.  Operating
earnings per share does not include transition and other one-time
expenses estimated at $0.12 per share.

                             About AIG

Based in New York, American International Group, Inc., is the
leading international insurance organization with operation in
more than 130 countries and jurisdictions.  AIG companies serve
commercial, institutional and individual customers through the
most extensive worldwide property-casualty and life insurance
networks of any insurer.  In addition, AIG companies are leading
providers of retirement services, financial services and asset
management around the world.  AIG's common stock is listed on the
New York Stock Exchange, as well as the stock exchanges in Ireland
and Tokyo.

In September 2008, AIG experienced a liquidity crunch when its
credit ratings were downgraded below "AA" levels by Standard &
Poor's, Moody's Investors Service and Fitch Ratings.  On
September 16, 2008, the Federal Reserve Bank created an
$85 billion credit facility to enable AIG to meet increased
collateral obligations consequent to the ratings downgrade, in
exchange for the issuance of a stock warrant to the Fed for 79.9%
of the equity of AIG.  The credit facility was eventually
increased to as much as $182.5 billion.

AIG has sold a number of its subsidiaries and other assets to pay
down loans received from the U.S. government, and continues to
seek buyers of its assets.


AMERICANWEST BANCORP: Lowers Net Loss to $71.1-Mil. in 2009
-----------------------------------------------------------
AmericanWest Bancorporation filed its annual report on Form 10-K,
showing a net loss of $71.1 million for 2009, compared with a net
loss of $192.4 million for 2008.   Net interest income decreased
24% to $56.1 million in 2009 compared to $74.0 million in 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$1.66 million in assets, $1.64 billion of debts, and
$19.6 million of stockholders' equity.

Moss Adams LLP, in Salt Lake City, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that of the Company's significant net
loss from operatins in 2009 and 2008, deterioration in the credit
quality of its loan portfoloio, and the decline in the level of
its regulatory capital to support operations.

A full-text copy of the annual report is available for free at:

      http://researcharchives.com/t/s?5769

Headquartered in Spokane, Washington, AmericanWest Bancorporation
-- http://www.awbank.net/-- is a bank holding company whose
principal subsidiary is AmericanWest Bank, a community bank with
58 financial centers located in Washington, Northern Idaho and
Utah.


AMERICANWEST BANCORP: To Voluntarily Delist Stock from Nasdaq
-------------------------------------------------------------
AmericanWest Bancorporation (NASDAQ: AWBC) disclosed Thursday that
it has provided written notice to NASDAQ of its intention to
voluntarily delist its common stock.  On September 15, 2009,
NASDAQ notified the Company that it had failed to comply with the
$1.00 per share minimum bid price requirement stipulated by
Listing Rule 5450(a)(1) and provided 180 days for the Company to
regain compliance.  The Company considered available strategies to
cure the minimum bid price deficiency, along with the direct and
indirect costs of NASDAQ listing and compliance, the limited
trading volume for its stock and other factors, and concluded that
continuation of the NASDAQ listing of its common stock was not in
its best interests.

The Company expects that it will file a Form 25 with the
Securities and Exchange Commission and NASDAQ on or about
March 14, 2010, and that trading of its common stock on the NASDAQ
Stock Market will be suspended at the open of market trading the
following day.  The official date for delisting will be March 24,
2010.

The Company has not made any arrangements to have its common stock
listed on any alternate exchanges or quotation systems.  Following
the delisting from NASDAQ, it expects that its common stock will
continue to be quoted for trade on the OTC Bulletin Board, an
electronic quotation service for unlisted public securities.  The
Company's common stock will continue to be registered with the
SEC.

                About AmericanWest Bancorporation

Headquartered in Spokane, Washington, AmericanWest Bancorporation
-- http://www.awbank.net/-- is a bank holding company whose
principal subsidiary is AmericanWest Bank, a community bank with
58 financial centers located in Washington, Northern Idaho and
Utah.

                          *     *     *

Moss Adams LLP, in Salt Lake City, expressed substantial doubt
about the Company's ability to continue as a going concern after
auditing the Company's financial statements for 2009.  The
independent auditors noted that of the Company's significant net
loss from operatins in 2009 and 2008, deterioration in the credit
quality of its loan portfoloio, and the decline in the level of
its regulatory capital to support operations.


ANDREW YOUNG: Can Hire Gregory S. Reising as Special Counsel
------------------------------------------------------------
The Hon. Eugene R. Wedoff of the U.S. Bankruptcy Court for the
Northern District of Illinois authorized Andrew L. Young, et al.,
to employ Gregory S. Reising as special counsel.

The Court also approved the $4,000,000 retainer in payment for his
services.

Wadsworth, Illinois-based Andrew L. Young filed for Chapter 11
bankruptcy protection on November 23, 2009 (Bankr. N.D. Ill. Case
No. 09-44322).  Gregory K. Stern, Esq., at Gregory K. Stern, P.C.,
assists the Company in its restructuring effort.  The Company
listed $10,000,001 to $50,000,000 in assets and $1,000,001 to
$10,000,000 in liabilities.


ANF ASBURY PARK: Case Summary & 19 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: ANF Asbury Park, LLC
        7700 Irvine Center Dr., #275
        Irvine, CA 92618

Bankruptcy Case No.: 10-12819

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Erithe A. Smith

Debtor's Counsel: Michael G. Spector, Esq.
                  Law Offices of Michael G. Spector
                  2677 N Main St Ste 800
                  Santa Ana, CA 92705
                  Tel: (714) 835-3130
                  Fax: (714) 558-7435
                  Email: mgspector@aol.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $10,000,001 to $50,000,000

The petition was signed by Jonathan Brohard, the company's
authorized agent.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                     Petition
    Debtor                              Case No.      Date
    ------                              --------      ----
Atherton-Newport Investments, LLC       08-10230     1/16/08
Atherton-Newport Fund 124, LLC          08-11280     3/18/08
Atherton-Newport Redondo, LLC           08-11471     3/28/08
Atherton-Newport Fund 126, LLC          08-14143     7/17/08
Atherton-Newport Fund 125, LLC          08-14535     7/31/08
Atherton-Newport Fund 123, LLC          08-15270     8/11/08
Atherton-Newport Fund 121, LLC          08-15398     9/02/08
Atherton-Newport Fund 128, LLC          08-15429     9/03/08

ANF Asbury Park's List of 19 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Atlantic & Pacific Mgmt.   Services               $17,355

Property Tax Services of   Services               $16,213
FL

City of North Miami Beach  Services               $10,651
City Hall, Customer Service

DynaServ                   Vendor                 $8,494

Waste Service of FL        Vendor                 $7,041
Miami Haulling

Carpet Replacement System  Vendor                 $6,500

Stacy Bomar Construction   Services               $4,340

Stelco Distributors, Inc.  Vendor                 $4,238

M&S Custom Design &        Services               $4,155
System

Florida Power & Light      Vendor                 $2,628

P.A., Birnholz, Michael    Services               $1,820
D.

Clean Start All Around     Vendor                 $1,795
Cleanin

Velotaz, Inc.              Vendor                 $1,526

AT&T                       Vendor                 $1,277

Tubs Refinishing Service   Services               $1,005

ARD Distributors, Inc.     Services               $951

For Rent Magazine          Services               $935

Consumer Source, Inc.      Services               $917

Armenti Constuction &      Services               $688
Acc


ANGIOTECH PHARMACEUTICALS: Lowers Net Loss to $23MM in 2009
-----------------------------------------------------------
Angiotech Pharmaceuticals Inc. reported a net loss of
$22.87 million on revenue of $279.68 million for 12 months ended
Dec. 31, 2008, compared with a net loss of $741.18 million on
revenue of $283.27 million for 2008.

For the fourth quarter, highlights include total revenue of
$63.6 million, and a net loss of $15.6 million.  As of December
31, 2009, cash and short-term investments were $57.3 million and
net debt was $517.7 million.

"We were pleased to report a particularly strong quarter for
product sales, which was driven by the continued strong
performance of our Proprietary Medical Products, where we saw
sales growth of 53% compared to the same period in 2008," said
Dr. William Hunter, president and CEO of Angiotech.  "We are
particularly pleased by the continued success of our Quill(TM) SRS
product line, which we believe will continue to be a strong
performer during 2010."

The Company's balance sheet at Dec. 31, 2009, showed $370.0
million in total assets and $620.0 million in total liabilities,
resulting to a $313.0 million stockholders' deficit as of  Dec.
31, 2009.  The Company said it has $129.0 total current assets and
$63.0 total current liabilities at Dec. 31.

A full-text copy of the Company's press release showing its fourth
quarter and full year 2009 results is available for free at
http://ResearchArchives.com/t/s?578d

Vancouver, Canada-based Angiotech Pharmaceuticals, Inc. (NASDAQ:
ANPI, TSX: ANP) -- http://www.angiotech.com/-- is a global
specialty pharmaceutical and medical device company.  Angiotech
discovers, develops and markets innovative treatment solutions for
diseases or complications associated with medical device implants,
surgical interventions and acute injury.

Angiotech Pharmaceuticals carries 'CCC' corporate credit ratings
from Standard & Poor's.


APPALACHIAN OIL: Plan Confirmation Hearing Scheduled for March 30
-----------------------------------------------------------------
The Hon. Marcia Phillips Parsons of the U.S. Bankruptcy Court for
the Eastern District of Tennessee approved the amended disclosure
statement explaining Appalachian Oil Company, Inc.'s Plan of
Liquidation.  The Bankruptcy Court approval of the Debtor's
disclosure statement allows the Debtor to commence the
solicitation of votes for confirmation of its Plan.

The deadline for returning completed ballots is on March 23, 2010.

A hearing to consider confirmation of the Plan is scheduled for
March 30, at 9:00 a.m., at James H. Quillen United States
Courthouse, 220 West Depot Street, Greeneville, Tennessee.
Objections, if any, to confirmation of the Plan must be received
by the Court and notice parties no later than March 23.

According to the Disclosure Statement, the Plan calls for the
liquidation of APPCO's remaining assets and the distribution of
the proceeds derived therefrom in accordance with the Plan. The
funding for the Plan will come from three sources, the funds held
by the Official Committee of Unsecured Creditors, preference
recoveries collected by the Debtor, and postpetition receivables
due the Debtor.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/APPALACHIANOIL_AmendedDS.pdf

Appalachian Oil sought Chapter 11 protection before the U.S.
Bankruptcy Court for the Eastern District of Tennessee on
February 9, 2009 (Case No. 09-50259).  Mark S. Dessauer, Esq., at
Hunter, Smith & Davis, in Kingsport, Tennessee, represents the
Debtor as counsel.  In its petition, the Debtor listed assets
between $10 million and $50 million and the same range of debt.

The Company's creditors with the biggest unsecured claims are BP
Plc's Amoco/BP, owed $2.41 million, and fuel distributor Crescent
Oil Co., owed $1.6 million.


APPLIED NANOTECH: Posts $2.2 Million Net Loss in 2009
-----------------------------------------------------
Applied Nanotech Holdings, Inc., filed its annual report on Form
10-K, showing a net loss of $2.2 million on $4.1 million of
revenue for 2009, compared with a net loss of $2.7 million on
$4.0 million of revenue for 2008.  The Company's balance sheet as
of Dec. 31, 2009, showed $893,367 in assets and $2.0 million of
debts, for a stockholders' deficit of $1.1 million.

Padgett, Stratemann & Co, L.L.P., expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that of the Company's recurring losses
from operations and negative cash flow from operations.

A full-text copy of the annual report is available for free at:

               http://researcharchives.com/t/s?578a

Austin, Tex.-based Applied Nanotech Holdings, Inc. is a
nanotechnology company engaged in research and development.  The
Company's work is currently focused in the areas of nanomaterials,
nanoelectronics, sensors, nanoecology, and electron emission
activities.


ARDEL HAROLD NELSON: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Ardel Harold Nelson
        Canyon Ranch Box 158
        Vanderpool, TX 78885

Bankruptcy Case No.: 10-13621

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Mike K. Nakagawa

Debtor's Counsel: Charles T. Wright, Esq.
                  Piet & Wright
                  3130 S. Rainbow Blvd., Ste. 304
                  Las Vegas, NV 89146
                  Tel: (702) 566-1212
                  Fax: (702) 566-4833
                  Email: todd.wright@pietwright.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $500,001 to $1,000,000

A full-text copy of Mr. Nelson's petition, including a list of his
6 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/nvb10-13621.pdf

The petition was signed by Mr. Nelson.


AUGUSTA APARTMENTS: Wants to Use PNC Bank's Cash Collateral
-----------------------------------------------------------
Augusta Apartments, LLP, has sought authorization from the U.S.
Bankruptcy Court for the Northern District of West Virginia to use
the cash collateral of PNC Bank, National Association.

Robert O. Lampl, Esq., who has an office in Pittsburgh,
Pennsylvania, explains that the Debtor needs the money to fund its
Chapter 11 case, pay suppliers and other parties.

In exchange for using the cash collateral, the Debtors propose to
grant PNC replacement security interests and liens in and on all
of the Debtor's assets.  Any cash collateral that is used by the
Debtor and not secured by any replacement liens in the pre-
petition collateral or the post-petition collateral will
constitute a cost and expense of administration in the Debtor's
Chapter 11 case, and the claim of PNC resulting therefrom will
have a superpriority status.

The Debtor represents, warrants and covenants that it won't open
any new or further accounts at any bank or institution other than
PNC, except as authorized by PNC in writing.

The Debtor will make monthly adequate protection payments to PNC
in the amount of:

      a. $10,000 on or before February 25, 2010; and
      b. $60,000 payable as:

         -- $20,000 on March 8, 2010;
         -- $20,000 on March 15; and
         -- $20,000 on March 22, 2010.

                             Objections

PNC filed an objection to the Debtor's use of cash collateral,
saying that the Debtor was unable to adequately protect PNC's
security interests and liens relative to the collateral if the
proceeds of the same were used in the operation of the Debtor's
business.  PNC is represented by Thorp Reed & Armstrong, LLP.

First United Bank and Trust is also objecting to the Debtor's use
of the rents from Augusta Realty.  First United is represented by
Schlossberg & Associates and Roger Schlossberg.

                      About Augusta Apartments

Morgantown, West Virginia-based Augusta Apartments, LLC, filed for
Chapter 11 bankruptcy protection on February 19, 2010 (Bankr. N.D.
W.Va. Case No. 10-00303).  Robert O. Lampl, Esq., at Robert O
Lampl Law Office, assists the Company in its restructuring
efforts.  The Company estimated its assets and debts at
$10,000,001 to $50,000,000.


BANANA RIVER: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Banana River, LP
          aka Banana River of Delaware, Ltd.
          dba Funtasia Miniature Golf
        Post Office Box 544
        Cape Canaveral, FL 32920

Bankruptcy Case No.: 10-03439

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       Middle District of Florida (Orlando)

Debtor's Counsel: Kenneth D. Herron, Jr., Esq.
                  1851 West Colonial Drive
                  Orlando, FL 32804
                  Tel: (407) 648-0058
                  Fax: (407) 648-0681
                  Email: kherron@whmh.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by John K. Porter.


BARCELONA BUSINESS: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Barcelona Business Center, LLC
        15509 N. Scottsdale Road
        ScottsdalE, AZ 85254

Bankruptcy Case No.: 10-05775

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Randolph J. Haines

Debtor's Counsel: Bert L. Roos, Esq.
                  5045 N. 12th St, Suite B
                  Phoenix, AZ 85014
                  Tel: (602) 242-7869
                  Fax: (602) 242-5975
                  Email: blrpc85015@msn.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Dennis M. Naughton, general counsel of
the Company.

Debtor-affiliate that filed separate Chapter 11 petition:

    Debtor                              Case No.
    ------                              --------
    Dannys Office, LLC                  10-05776


BARCELONA RESTAURANTS: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Barcelona Restaurants III, LLC
        15509 N. Scottsdale Road
        Scottsdale, AZ 85254

Bankruptcy Case No.: 10-05774

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Randolph J. Haines

Debtor's Counsel: Bert L. Roos, Esq.
                  5045 N. 12th St, Suite B
                  Phoenix, AZ 85014
                  Tel: (602) 242-7869
                  Fax: (602) 242-5975
                  Email: blrpc85015@msn.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Dennis M. Naughton, general counsel of
the Company.


BENDER SHIPBUILDING: Signal Wins Auction for Assets
---------------------------------------------------
Bender Shipbuilding & Repair Co, Inc., conducted an auction for
its assets.  Signal International of Mobile, Alabama, emerged as
the winning bidder with its $31.3 million offer.

Signal provides marine fabrication services in the Gulf Coast
region.

The assets principally consisted of approximately 40 acres of
industrial land, including 4,500 feet of waterfront on the Mobile
River, and shipyard equipment, including two floating dry docks,
and other associated real property. The sale was administered by
the US Bankruptcy Court for the Southern District of Alabama.

Global Hunter Securities, a full service investment bank, arranged
the auction and sale of Bender's assets.  "We are pleased to have
facilitated this complex transaction, which brought outstanding
value to the Bender Estate," said Daniel O. Conwill IV, chairman
and chief executive officer of Global Hunter.  "Unique to this
bankruptcy situation, multiple parties had to be satisfied,
including numerous secured lenders with various collateral, as
well as the committee for unsecured creditors."

                    About Bender Shipbuilding

Bender Shipbuilding & Repair Co. welds the hull of an offshore oil
supply boats the Mobile, Alabama.

In June 2009, three creditors filed an involuntary Chapter 7
petition against Bender Shipbuilding & Repair Co. in the U.S.
Bankruptcy for the Southern District of Alabama.  In July 2009,
Bender Shipbuilding filed a voluntary Chapter 11 petition.
Attorneys at Lugenbuhl, Wheaton, Peck, Rankin & Hubbard, serve as
counsel for the Debtor.


BERNARD MADOFF: Victims Can Appeal Ruling on Claims Computation
---------------------------------------------------------------
Thom Weidlich at Bloomberg News reports that Bankruptcy Judge
Burton Lifland is allowing investors to immediately take an appeal
from his order that lets Irving H. Picard, trustee for Bernard L.
Madoff Investment Securities LLC, reject years' worth of fake
profit from the fraud when calculating victims' claims for
repayment.

According to the report, Judge Lifland in Manhattan has certified
his order, allowing an appeal.  His decision, made at the request
of both sides, means the victims won't have to wait until Mr.
Picard denies a claim and won't have to first appeal to the
federal district court.  The appeal will go immediately to the
U.S. appeals court in New York.

Judge Lifland on March 1 granted the request by the Madoff trustee
to disregard fake profits in computing claims of investors
defrauded by Bernard Madoff.  Mr. Picard defined Net Equity as the
amount of cash deposited by the customer into his BLMIS customer
account less any amounts already withdrawn by him.  Thousands of
customers, however, objected, arguing the amounts on Madoff's
final account statements should be used.

The Court, however, acknowledged that rather than engaging in
legitimate trading activity, Mr. Madoff used customer funds to
support operations and fulfill other investors' requests for
distributions of profits to perpetuate his Ponzi scheme.  Thus,
any payment of "profit" to a BLMIS customer came from another
BLMIS customer's initial investment.

"It would be simply absurd to credit the fraud and legitimize the
phantom world created by Madoff when determining Net Equity,"
Judge Lifland ruled.

A copy of the court ruling is available for free at:

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

                   About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L.
Madoff orchestrated the largest Ponzi scheme in history, with
losses topping US$50 billion.

On December 15, 2008, the Honorable Louis A. Stanton of the
U.S. District Court for the Southern District of New York granted
the application of the Securities Investor Protection Corporation
for a decree adjudicating that the customers of BLMIS are in need
of the protection afforded by the Securities Investor Protection
Act of 1970.  The District Court's Protective Order (i) appointed
Irving H. Picard, Esq., as trustee for the liquidation of BLMIS,
(ii) appointed Baker & Hostetler LLP as his counsel, and (iii)
removed the SIPA Liquidation proceeding to the Bankruptcy Court
(Bankr. S.D.N.Y. Adv. Pro. No. 08-01789) (Lifland, J.).

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The case is before Hon. Burton Lifland.  The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in
United States v. Madoff, No. 09-CR-213 (S.D.N.Y.)


BIOANALYTICAL SYSTEMS: Gets Non-Compliance Notice from NASDAQ
-------------------------------------------------------------
Bioanalytical Systems, Inc., received notification from the NASDAQ
Listing Qualification Department on March 4, 2010, that it has
failed to maintain at least a $1 minimum bid price for its common
shares, which is required for continued listing of the Company's
common shares on the NASDAQ Capital Market.

The Company has until August 31, 2010, to regain compliance with
the Minimum Bid Requirement by meeting the required $1.00 bid
threshold for a minimum of 10 consecutive business days.  The
Company intends to actively evaluate and monitor the bid price for
its common shares between now and August 31, 2010, and consider
implementation of various options available to the Company if its
common shares do not trade at a level that is likely to regain
compliance.  If the Company's minimum bid does not increase to
$1.00 per share or more prior to August 31, 2010, the Company
could be delisted from the Capital Market, in which case the
common shares may be traded over-the-counter.

                  About Bioanalytical Systems

Bioanalytical Systems, Inc. -- http://www.BASInc.com -- is a
pharmaceutical development company providing contract research
services and monitoring instruments to the world's leading drug
development companies and medical research organizations.  The
company focuses on developing innovative services and products
that increase efficiency and reduce the cost of taking a new drug
to market.


BLUE HERON: Files Schedules of Assets and Liabilities
-----------------------------------------------------
Blue Heron Paper Company filed with the U.S. Bankruptcy Court for
the District of Oregon its schedules of assets and liabilities,
disclosing:

    Name of Schedule              Assets         Liabilities
    ----------------            -----------      -----------
A. Real Property               $16,117,615
B. Personal Property           $31,706,241
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                               $20,047,634
E. Creditors Holding
    Unsecured Priority
    Claims                                          $437,654
F. Creditors Holding
    Unsecured Non-priority
    Claims                                       $23,081,405
                                -----------      -----------
       TOTAL                    $47,823,856      $43,566,693

Oregon City, Oregon-based Blue Heron Paper Company filed for
Chapter 11 bankruptcy protection on December 31, 2009 (Bankr. D.
Ore. Case No. 09-40921).  Brandy A. Sargent, Esq., and Robert J.
Vanden Bos, Esq., who have offices in Portland, Oregon, assist the
Company in its restructuring effort.  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


BOISE CASCADE: S&P Puts 'B+' Rating on CreditWatch Positive
-----------------------------------------------------------
Standard & Poor's Ratings Services placed all of its ratings,
including its 'B+' corporate credit rating on Boise Cascade LLC on
CreditWatch with positive implications.

"The CreditWatch placement reflects BC's higher-than-expected cash
balance and its assessment that the company's financial
performance faces limited downside risk in the near term," said
Standard & Poor's credit analyst Pamela Rice.  The company had
$287 million of cash compared with about $420 million of adjusted
debt at Dec. 31, 2009, and when the final trade is settled on
March 8, 2010, it will have received an additional $86 million of
proceeds from the sale of its Boise Inc. stock.

The company currently plans to use the proceeds from the stock
sales for capital expenditures, the repayment of senior debt, or
to make tender offers for its 7.125% subordinated notes at par as
required by the subordinated notes indenture.  However, S&P is
uncertain as to how much of the proceeds the company will use for
debt reduction.

BC continues to generate operating losses during this deep and
extended housing downturn, although its results are improving
because of cost reductions and facility rationalization efforts.
The company generated negative EBITDA of about $12 million in the
fourth quarter of 2009 compared with negative $24 million in the
comparable prior year quarter.  Moreover, S&P expects that BC's
earnings should strengthen gradually from these very poor levels
as housing markets begin to recover in 2010, with a more
substantial improvement in 2011 as the rebound S&P anticipates
accelerates.

In resolving the CreditWatch listing, S&P plans to meet with
management to discuss its business strategies, prospects for
market conditions, financial projections, financial policies, and
its planned uses for the stock sale proceeds.


BRENTWOOD GROUP: Files for Chapter 11 to Avoid Lawsuits
-------------------------------------------------------
Brentwood Group No. 1 Ltd., which operates the Mall of the
Mainland, has filed for Chapter 11 protection.  The Company said
has been plagued by tenant departures in recent months and is
facing threats of lawsuits from creditors, Laura Elder at The
Daily News reported.

The Company is seeking permission from the court to use cash
collateral to continue operating the mall and making payroll.

In early 2008, Pacific Western provided $13.5 million loan.  The
loan was due to mature in July 2008, but was subsequently extended
until Jan. 15, 2010.


BTA BANK: Given Permanent Relief in Chapter 15
----------------------------------------------
Bill Rochelle at Bloomberg News reports that JSC BTA Bank was
granted relief in the U.S. under Chapter 15 when the bankruptcy
judge in New York ruled t that the court in Kazakhstan abroad is
home to the "foreign main proceeding."  Consequently, creditor
actions in the U.S. are permanently halted, forcing creditors to
hash out their claims and receive distributions in Kazakhstan.

BTA Bank earlier said a court in Kiev, Ukraine, on February 17
issued a ruling "recognizing" the legitimacy of its debt
restructuring process.  BTA Bank also said Dec. 22 the High Court
of Justice of England and Wales recognized the bank's
restructuring, giving the bank a suspension of proceedings against
its assets.

                          About BTA Bank

BTA Bank AO (BTA Bank JSC), formerly Bank TuranAlem AO --
http://bta.kz/-- is a Kazakhstan-based financial institution,
which is involved in the provision of banking and financial
products for private and corporate clients.

The BTA Group is one of the leading banking groups in the
Commonwealth of Independent States and has affiliated banks in
Russia, Ukraine, Belarus, Georgia, Armenia, Kyrgyzstan and Turkey.
In addition, the Bank maintains representative offices in Russia,
Ukraine, China, the United Arab Emirates and the United Kingdom.
The Bank has no branch or agency in the United States, and its
primary assets in the United States consist of balances in
accounts with correspondent banks in New York City.

As of November 30, 2009, the Bank employed 5,043 people inside
and 4 people outside Kazakhstan. It has no employees in the United
States.  Most of the Bank's assets, and nearly all its tangible
assets, are located in Kazakhstan.

JSC BTA Bank, also known as BTA Bank of Kazakhstan, filed for
Chapter 15 bankruptcy protection in New York on Feb. 4, 2010
(Bankr. S.D.N.Y. Case No. 10-10638), listing more than $1 billion
in both assets and debt.

BTA Bank wants the Bankruptcy Court in Manhattan to enter an order
recognizing the voluntary judicial restructuring proceeding that
was initiated by the bank in the Specialized Financial Court of
Almaty City in Kazakhstan and opened pursuant to an Oct. 16, 2009
decision of the Financial Court, as a foreign main proceeding
pursuant to 11 U.S.C. Secs. 1515 and 1517.

BTA Bank is represented in the Chapter 15 proceedings by White &
Case LLP.


CANNERY CASINO: Loan Amendment Won't Affect Moody's 'Caa1' Rating
-----------------------------------------------------------------
Moody's Investors Service stated that the Caa1 Corporate Family
and Probability of Default ratings as well as the negative rating
outlook for Cannery Casino Resorts, LLC, will not be affected by
the closing of the company's amendment to its first lien bank
facilities.

The last rating action for Cannery was on November 12, 2009, when
Moody's downgraded Cannery's CFR to Caa1 from B2 and assigned a
negative outlook.

Cannery Casino Resorts, LLC, is a privately held gaming company
that owns and operates one casino in Pennsylvania and three
casinos in Las Vegas, NV.  The company generates about
$490 million of annual net revenue.


CARABEL EXPORT: Plan of Reorganization Wins Court Approval
----------------------------------------------------------
Enrique S. Lamoutte Inclan of the U.S. Bankruptcy Court for the
District of Puerto Rico confirmed the Chapter 11 Plan of
Reorganization of Carabel Export and Import, Inc.

As reported in the Troubled Company Reporter on Oct. 30, 2009,
under the Plan, retained professionals and the U.S. trustee fees
will be paid in full.  Other holders of administrative expense
claims would only recover 45% of their claims and will be paid
from the $300,000 carve out established by Continental Tiles Inc.
and Westernbank Puerto Rico.

Secured lender Westernbank Puerto Rico will receive the proceeds
of the sale of Debtor's assets to Continental Tiles, Inc.,
amounting to $6,500,000, plus any funds arising from Debtor's
accounts receivable and Debtor's balance of available cash, for an
estimated 35% recovery.  The balance of Westernbank's claim for
$18,541,094 is dealt with under Class 5 as a General Unsecured
Claim.

As per the settlement agreement between Debtor and Firstbank
Puerto Rico dated Aug. 13, 2009, Debtor agreed to surrender
Firstbank's collateral thereto.  Any deficiency in Firstbank's
claim will be dealt with under Class 5 as a General Unsecured
Claim.

On or before the effective date, Debtor will surrender Popular
Auto's collateral thereto.  Any deficiency in Popular Auto's Claim
will be dealt with under Class 5 as a General Unsecured Claim.

Priority tax claims estimated to total $8,863,569 won't be paid.
The holders of allowed general unsecured claims against Debtor
also won't receive distributions and are deemed to reject the
Plan.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/CARABELEXPORT_DS.pdf

               About Carabel Export and Import Inc.

Based in Caguas, Puerto Rico, Carabel Export and Import Inc., dba
ItalCeramica, and its affiliates filed separate Chapter 11
petitions on December 30, 2008 (Bankr. D. P.R. Lead Case No.
08-08956).  The Hon. Enrique S. Lamoutte Inclan oversees the case.
Charles Alfred Cuprill, Esq., at Charles A Curpill, PSC Law
Office, in San Juan, Puerto Rico, represents the Debtors.
When it filed for bankruptcy, Carabel disclosed $14,544,289 in
total assets, and $26,957,250 in total debts.


CAROL LYNN PROPERTIES: Case Summary & 5 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Carol Lynn Properties, LLC
        6263 Ingleside Drive
        Wilmington, NC 28409

Bankruptcy Case No.: 10-01781

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: Stephani W. Humrickhouse

Debtor's Counsel: George M. Oliver, Esq.
                  Oliver & Friesen, PLLC
                  PO Box 1548
                  New Bern, NC 28563
                  Tel: (252) 633-1930
                  Fax: (252) 633-1950
                  Email: efile@oliverandfriesen.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $3,000,961
and total debts of $1,431,293.

A full-text copy of the Debtor's petition, including a list of its
5 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/nceb10-01781.pdf

The petition was signed by Adam Lisk, member/manager of the
Company.


CAROLINA FIRST: S&P Withdraws Junk Issuer & Unsec. Deposit Ratings
------------------------------------------------------------------
Moody's Investors Service withdrew its ratings for Carolina First
Bank (bank financial strength of E, deposits of Caa1/Not-Prime,
other senior obligations of C/Not-Prime, and issuer rating of C)
for business reasons.  Carolina First Bank is the lead bank of The
South Financial Group, Inc., an unrated bank holding company.

Carolina First is headquartered in Greenville, South Carolina, and
reported total assets of $11.9 billion at December 31, 2009.

The last rating action on Carolina First was on March 4, 2010,
when Moody's downgraded the bank's ratings (long-term issuer to C
from Ca, long-term OSO to C from Ca).  Following the downgrade,
the rating outlook was stable.

Outlook Actions:

Issuer: Carolina First Bank

  -- Outlook, Changed To Rating Withdrawn From Stable

Withdrawals:

Issuer: Carolina First Bank

  -- Bank Financial Strength Rating, Withdrawn, previously rated E

  -- Issuer Rating, Withdrawn, previously rated C

  -- OSO Rating, Withdrawn, previously rated NP

  -- Deposit Rating, Withdrawn, previously rated NP

  -- OSO Senior Unsecured OSO Rating, Withdrawn, previously rated
     C

  -- Senior Unsecured Deposit Note/Takedown, Withdrawn, previously
     rated Caa1

  -- Senior Unsecured Deposit Rating, Withdrawn, previously rated
     Caa1


CASCADES INC: Offers to Pay Noteholders to Adjust Covenants
-----------------------------------------------------------
Cascades Inc. commenced a consent solicitation in respect of its 7
1/4% Senior Notes due 2013 (CUSIP # 146900AC9) (the "7 1/4%
Notes") and its 6 3/4% Senior Notes due 2013 (CUSIP # 65542NAJ6)
(the "6 3/4% Notes" and, together with the 7 1/4% Notes, the
"Notes").  The consent solicitation is being made pursuant to the
Consent Solicitation Statement dated March 5, 2010, and the
related Letter of Consent.

Upon the terms and subject to the conditions described in the
Consent Solicitation Statement and the Letter of Consent, Cascades
is offering holders a consent fee of $7.50 cash per $1,000
principal amount of Notes to consent to amendments to each of the
indentures governing the Notes which, among other things,
eliminated substantially all of the restrictive covenants in the
indentures and modified or eliminated certain events of default.
The solicitation expires at 5:00 p.m. on March 18, 2010.

Cascades previously received the requisite consents from holders
of Notes outstanding under each indenture.  The amendments were
adopted by Cascades on February 26, 2010 and the trustee under
each indenture entered into a supplemental indenture with us and
the subsidiary guarantors to give effect to the amendments as of
such date.  The Effective Amendments are and will remain binding
upon all holders of notes regardless of whether such holders
consent to the Effective Amendments, however, holders will receive
the consent fee only if they validly deliver consents pursuant to
the consent solicitation.  Cascades is soliciting consents to the
Effective Amendments to satisfy its obligation under each
indenture to offer to all holders the same consideration that was
paid to the holders that previously consented to the Effective
Amendments.

Cascades is not tendering for any Notes pursuant to the consent
solicitation, however, as soon as practicable following the
expiration of the consent solicitation, Cascades, through its
wholly-owned subsidiary, Cascades Tenderco Inc., intends to offer
to purchase for cash any and all of Cascades' 7 1/4% Notes for
consideration of $1,010 per $1,000 principal amount of 7 1/4%
Notes and Cascades' 6 3/4% Notes for consideration of $1,022.50
per $1,000 principal amount of 6 3/4% Notes, in each case the same
amount paid to certain holders that previously consented to the
Effective Amendments.  As of March 4, 2010, all but $10,125,000
aggregate principal amount of 7 1/4% Notes and $11,661,000
aggregate principal amount of 6 3/4% Notes were owned by Cascades
or its affiliates (including Cascades Tenderco Inc.).

Cascades has retained Global Bondholder Services Corporation to
serve as the consent agent for the solicitation.  Requests for
documents and questions regarding the consent solicitation may be
directed to Global Bondholder Services Corporation at (866) 470-
3800 (toll free) or (212) 430-3774 (banks and brokers).

                        About Cascades

Headquartered in Kingsey Falls, Quebec, Cascades is a
predominantly North American producer of recycled boxboard,
containerboard, and specialty packaging and tissue products.

Cascades carries a 'Ba2' corporate family rating by Moody's.
It has a 'BB-/Stable/--' corporate rating from Standard & Poor's.


CATALINA INDUSTRIES: Amends List of 20 Largest Unsecured Creditors
------------------------------------------------------------------
Catalina Industries, Inc., has filed with the U.S. Bankruptcy
Court for the Southern District of Florida an amended list of its
20 largest unsecured creditors.

A full-text copy of the Debtor's amended list of creditors is
available for free at http://bankrupt.com/misc/flsb10-14787.pdf

Hialeah, Florida-based Catalina Industries, Inc., along with
Catalina Industries, makes residential lighting products.
Catalina distributes its products to retailers including Wal-Mart,
Lowes, OfficeMax, Sears, Staples Kmart and Bed Bath and Beyond.

The Company filed for Chapter 11 bankruptcy protection on
February 25, 2010 (Bankr. S.D. Fla. Case No. 10-14787).  Stephen
P. Drobny, Esq., who has an office in Miami, Florida, assists the
Company in its restructuring effort.  The Company estimated its
assets and liabilities at $10,000,001 to $50,000,000.


CELEBRITY RESORTS: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Celebrity Resorts, LLC
        8451 Palm Parkway
        Orlando, FL 32836

Bankruptcy Case No.: 10-03550

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Middle District of Florida (Orlando)

Judge: Arthur B. Briskman

Type of Business: Timeshare Development

Debtor's Counsel: R Scott Shuker
                  Latham Shuker Eden & Beaudine LLP
                  Post Office Box 3353
                  Orlando, FL 32802
                  Tel: (407) 481-5800
                  Fax: (407) 481-5801
                  E-mail: bankruptcynotice@lseblaw.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $10,000,001 to $50,000,000

The petition was signed by Jared M. Mayers, CEO.

Debtor-affiliates that filed separate Chapter 11 petitions:

Celebrity Resorts of Brigantine Beach   10-03551
Celebrity Resorts of Indian Shores      10-03552
Celebrity Resorts of Kauai, LLC         10-03553
Celebrity Resorts of Lake Buena Vista   10-03554
Celebrity Resorts of Orlando, LLC       10-03555
Celebrity Resorts of Palm Coast, LLC    10-03556
Celebrity Resorts of Reno, LLC          10-03557
Celebrity Resorts of Steamboat Springs  10-03558
Celebrity Resorts of Steamboat
   Springs-Hilltop, LLC                 10-03559
Celebrity Resorts Management Services   10-03560
Celebrity Resorts Management, LLC       10-03561
Celebrity Resorts of Clearwater
   Management Company, LLC              10-03562
Celebrity Resorts of Colorado
   Management Company, LLC              10-03563
Celebrity Resorts of Florida
   Management Company, LLC              10-03564
Celebrity Resorts of Genoa, LLC         10-03565
Celebrity Resorts of Hanalei Management
   Company, LLC                         10-03566
Celebrity Resorts of Hawley, LLC        10-03567
Celebrity Resorts of Kauai
   Management Company, LLC              10-03568
Celebrity Resorts of Las Vegas
   Management Company, LLC              10-03569
Celebrity Resorts of Nevada Genoa
   Management, LLC                      10-03570
Celebrity Resorts of Nevada Management
   Company, LLC                         10-03571
Celebrity Resorts of New Jersey
   Management Company, LLC              10-03572
Celebrity Resorts Holding Company, LLC  10-03574
Celebrity Resorts Reservations, LLC     10-03575
Celebrity Resorts Sales &
   Marketing, LLC                       10-03576
Hilltop Bar & Grill, LLC                10-03577
Lucky Duck Cafe, LLC                    10-03578
Optima Financial Services, LLC          10-03579
The Club of Celebrity Resorts, LLC      10-03580
Venezia CE, LLC                         10-03581
Celebrity Resorts International
   Management Services, LLC             10-03582
Celebrity Resorts International, LP     10-03583
Celebrity Resorts Management
   Services, Inc                        10-03584
Celebrity Resorts, Inc                  10-03585

Celebrity Resorts LLC's List of 2 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
International Escrow Svcs  Accrued closing cost   $64,895

Resort Condominiums Int'l  Accrued RCI            $16,819

A copy of the Debtor's petition, with an attached creditors list,
is available for free at:

        http://bankrupt.com/misc/flmb10-03550.pdf


CENTAUR LLC: Files for Chapter 11; Has Tentative Deal with Lenders
------------------------------------------------------------------
To expedite its restructuring efforts and to ensure operations
continue in a business-as-usual manner at existing properties,
Centaur, LLC and certain of its subsidiaries, including Hoosier
Park Racing & Casino, Fortune Valley Hotel & Casino and additional
Valley View Downs & Casino entities, have elected to file
voluntary bankruptcy petitions under Chapter 11 of the U.S.
Bankruptcy Code.  Upon emergence, the company expects to be in a
strong financial position with less debt and an improved capital
structure.

Centaur said in a statement that its casino, racing and hotel
operations will continue without interruption, providing the same
level of entertainment and service during the restructuring.
Additionally, plans continue to move forward for the launch of
Valley View Downs in western Pennsylvania

"Hoosier Park and Fortune Valley are healthy, successful
businesses, staffed by dedicated team members who provide an
outstanding entertainment experience for our guests.  We will
continue to provide our guests with high-value gaming, great
dining, generous club rewards, exceptional promotions and special
events, and exciting racing.  It will be business as usual at all
properties.  Customers will continue to enjoy a dynamic array of
the latest slot machines with impressive payouts.  For our
customers and employees, we look forward to a seamless experience
during the reorganization process," said Jim Brown, General
Manager of Gaming, Hoosier Park Racing & Casino, speaking on
behalf Centaur's operating properties.

Centaur said positive cash flow generated from daily operations
and cash reserves are more than adequate to fund operating
expenses, including supplier obligations and employee wages,
salaries and benefits during the restructuring period.  With
respect to ongoing business relationships, the Bankruptcy Code
provides administrative priority status for vendor goods and
services received after the Chapter 11 filing date.

"Over the past several months, we have taken steps to bring our
capital structure in line with current marketplace realities and
other critical factors.  It is important to understand that our
corporate balance sheet is the issue, not our businesses in
Indiana, Colorado or Pennsylvania.  This necessary step will
provide us with the financial flexibility to strongly position the
company for future success.  During Centaur's 18-year history, we
have taken great pride in everything we do.  We are excited about
our future, and we thank our guests, employees, vendors and key
partners for their support as we navigate the restructuring
process.  It's a new beginning to a bright future," said Centaur
Chairman & CEO Rod Ratcliff.

The Company has filed first-day motions to provide for the
uninterrupted payment or satisfaction of obligations to our
customers, horsemen, and our employees, as well as taxes and
regulatory fees.

"We have reached an agreement in principal with our first lien
lenders and expect to file a plan with the courts in the near
future with a target of successfully emerging from bankruptcy
before the end of July," said Centaur EVP & CFO Kurt Wilson.

Centaur, LLC is an Indiana-based company involved in the
development and operation of entertainment venues focused on horse
racing and gaming.  See http://www.centaurgaming.net/

                           *     *     *

According to IBJ.com, the Company has been struggling due to a
heavy debt load.  The Company is in default after it missed a
$13.4 million payment due on more than $400 million in outstanding
debt in October 2009.


CENTAUR LLC: Case Summary & 30 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Centaur, LLC
           aka Centaur Indiana, LLC
        10 W. Market Street, Suite 200
        Indianapolis, IN 46204

Bankruptcy Case No.: 10-10799

Chapter 11 Petition Date: March 6, 2010

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Peter J. Walsh

Type of Business: Centaur, LLC is an Indiana-based company
                  involved in the development and operation of
                  entertainment venues focused on horse racing and
                  gaming.  For more information, visit
                  http://www.centaurgaming.net/

Debtors' Counsel: Jeffrey M. Schlerf, Esq.
                  Fox Rothschild LLP
                  Citizens Bank Center
                  919 N. Market Street, Suite 1600
                  Wilmington, DE 19801
                  Tel: (302) 622-4212
                  Fax: (302) 656-8920
                  Email: jschlerf@foxrothschild.com

Estimated Assets: $500,000,001 to $1,000,000,000

Estimated Debts: $500,000,001 to $1,000,000,000

A full-text copy of the Debtor's petition, including a list of its
30 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/deb10-10799.pdf

The petition was signed by Kurt E. Wilson, the Company's executive
vice president and chief financial officer.

Debtor-affiliates that filed separate Chapter 11 petitions:

    Debtor                              Case No.
    ------                              --------
Centaur Colorado, LLC                   10-10800
  Assets: $500 million to $1 billion
  Debts: $500 million to $1 billion
Hoosier Park L.P.                       10-10801
Centaur Racing, LLC                     10-10802
HP Dining & Entertainment, LLC          10-10803
Centaur Pennsylvania LLC                10-10804
Centaur Indiana, LLC                    10-10805
Centaur PA Land Management, LLC         10-10806
VVD Properties General Partner, LLC     10-10807
Centaur PA Land General Partner, LP     10-10808
Valley View Downs GP, LLC               10-10809
VVD Properties, LP                      10-10810

Centaur LLC's List of 30 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Preit Services, Inc.       Contract               $28,729,250
Attn: Roebrt McFadden
200 S. Broad St., Fl 3
Philadelphia, PA 19102

Churchill Downs, Inc.      Contract               $15,000,000
Attn: William Mudd
700 Central Avenue
Louisville, KY 40208

AMES Construction, Inc.    Contract               $1,277,229
Attn: Ken Isenberger
18450 E. 28th Avenue
Aurora, CO 80011

Indiana Horse Racing       Regulatory Fee         $425,212
Commission
ISTA Center-Suite 530
150 W. Market Street
Indianapolis, IN 46204

Anthem Blue Cross & Blue   Insurance              $181,626
Shield

U.S. Food Services, Inc.   Trade                  $172,823

Auditor of the State of    Tax                    $133,162

Anderson City Utilities    Utility                $70,377

IGT                        Trade                  $61,351

WMS Gaming                 Trade                  $56,924

GURU Marketing             Trade                  $54,147

XCEL Energy                Utility                $47,857

Consolidated Insurance     Insurance              $40,475
Services

Claypool Holdings LLC      Landlord               $40,172

Humana Insurance Co.       Insurance              $34,292

Blackhawk/Central City     Utility                $32,019
Sanitation District

Ed Martin-Anderson         Trade                  $30,400

Bally Gaming, Inc.         Trade                  $29,361

Monarch Beverage Co, Inc.  Trade                  $28,301

Tri-States Coca Cola       Trade                  $28,286
Bottling

ALSCO                      Trade                  $25,707

Juice Communications       Trade                  $23,719

Blue News                  Trade                  $23,194

Aristocrat Technologies    Trade                  $22,289
Inc.

CBS Outdoor                Trade                  $21,653

Casino Transportation      Trade                  $21,100

United Concordia           Insurance              $20,766

Central Ohio Graphics,     Trade                  $20,386
Inc.

Bowe Bell & Howell         Legal                  $20,327

ERMCO                      Trade                  $19,929


CENTERLINE CAPITAL: Completes Comprehensive Restructuring
---------------------------------------------------------
Centerline Capital Group, a real estate asset management and
financial services firm and subsidiary of Centerline Holding
Company, announced that it closed a series of transactions with
Island Capital Group LLC and the Company's creditors and preferred
shareholders.  The transactions, which eliminated approximately
$1.6 billion of aggregate liabilities and contingent exposure and
provided over $100 million of new equity, restore Centerline to
financial stability by restructuring substantially all of its
outstanding debt.  Centerline also sold its real estate debt fund
management and commercial mortgage loan special servicing business
to an Island Capital affiliate, C-III Capital Partners LLC, and
recapitalized the majority of the outstanding equity interests in
the Company.

Centerline retains and will continue to operate its core
businesses: Low-Income Housing Tax Credit (LIHTC) origination,
asset management, and affordable and conventional multifamily
lending, principally as an agency, or Government-Sponsored
Enterprise (GSE), lender.

Centerline has entered into an advisory agreement with an
affiliate of Anubis Advisors, a wholly-owned subsidiary of Island
Capital.  Anubis will provide strategic, restructuring, and
general advisory services to Centerline.

Island Capital was founded and is controlled by Andrew L. Farkas,
who also founded Insignia Financial Group, Inc., which grew to one
of the world's largest commercial real estate owners and operators
by the time of its sale in 2003.

Centerline remains a public company (OTC: CLNH); however, the
nature and composition of the equity interests in the Company have
changed.  C-III, the Island Capital affiliate, is now the largest
holder of common share equivalents with approximately 40 percent
of the outstanding common equivalents.  Common Shareholders prior
to the transactions retain approximately 20 percent of the
outstanding common share equivalents.  Essentially all Centerline
Community Reinvestment Act (CRA) and other preferred shares have
been exchanged for common share equivalents and now represent
about 35 percent of the outstanding common share equivalents.  The
Company issued shares representing approximately 5 percent of the
outstanding common equivalents to Natixis Financial Products.  In
total, $341.2 million of liquidation and redemption value
preferred shares were exchanged for common share equivalents in
Centerline Holding Company.

As a result of the transactions, the Company amended and restated
its corporate credit agreement, reducing its debt from
approximately $208 million to $137.5 million and extending the
term seven years.  The amended credit agreement contains financial
and other covenants that are typical for a financially sound
borrower.

Centerline sold its debt fund management and servicing business
for consideration of $110 million, consisting of $50 million in
cash and $60 million in assumed senior debt.  The Related
Companies, a former affiliate of Centerline controlled by Stephen
M. Ross, the former Chairman of Centerline's Board of Trustees,
assumed $5 million of the pre-transaction debt.  Centerline also
used a portion of sale proceeds to fund discounted payoffs of
approximately $116.3 million in face amount of unsecured
liabilities and claims.  Finally, Centerline entered into
transactions with affiliates of Merrill Lynch and Natixis
Financial Products that eliminated Centerline's contingent
liabilities in connection with more than $800 million of credit
default swaps associated with certain guaranteed LIHTC funds. The
recapitalization and restructuring now positions Centerline among
the most financially stable companies in the real estate finance
and asset management industries.

The transactions were structured to preserve Centerline's existing
net operating loss carryover, which may be considered a
potentially valuable asset since it allows current losses to be
deducted against future earnings to reduce tax liabilities.

According to Marc D. Schnitzer, President and CEO, "We have worked
closely with Andrew Farkas and the Island Capital team for many
months to make this transaction happen.  We believe Island Capital
-- with its historical track record of vision and growth -- is the
ideal financial and leadership partner to allow Centerline to
refocus on our traditional core businesses.  We are now ready to
recapture our position as an industry leader and increase our
market share.  This is a positive transaction for both Island
Capital and Centerline and demonstrates belief in the strength of
our platform by one of the industry's most savvy players."

Centerline has been one of the largest syndicators of Low-Income
Housing Tax Credits, with $9.3 billion of investor equity under
management.  It provides asset management services to
approximately 1,500 affordable multifamily properties.
Centerline's agency lending platform has originated and services
in excess of $9 billion of mortgage loans.  Centerline anticipates
that Anubis, the Island-controlled external advisor, will assist
in the acquisition of other companies in ancillary or
complementary businesses.  Such activities may include the
acquisition and/or creation of additional asset management
companies, controlling interests in real estate limited
partnerships and similar investment vehicles, other agency
lenders, and an affordable housing property management business.

"The reduction in Centerline liabilities delivers value to all our
constituents," added Mr. Schnitzer.  "Closing a transaction of
this complexity is a tremendous accomplishment.  It restores
confidence in those who currently engage in business with us and
opens the door for others to invest in new opportunities with a
company that has a manageable debt structure in a pervasively
distressed economic environment.  We enthusiastically look forward
to healthy growth and a long future."

The transactions were approved by an independent oversight
committee of the Board of Trustees, formed to oversee the
strategic alternatives review process.

               About Centerline Capital Group

Centerline Capital Group, a subsidiary of Centerline Holding
Company (OTC: CLNH), provides real estate financial and asset
management services, and multifamily loan origination and
servicing. Centerline is headquartered in New York, New York. For
more information, please contact Elizabeth Haukaas at
212.521.6453.

Rothschild Inc. served as financial advisor to Centerline and its
independent oversight committee throughout the restructuring
process. Paul, Hastings, Janofsky & Walker LLP and Richards,
Layton & Finger, PA represented Centerline in the transaction.
Weil, Gotshal & Manges LLP represented the independent oversight
committee; Island Capital was represented by Proskauer Rose LLP.


CHARTER COMMS: Wants to Extend Maturity of $3-Bil. Credit Lines
---------------------------------------------------------------
Charter Communications, Inc.'s subsidiary, Charter Communications
Operating, LLC, is seeking the consent of lenders to amend its
existing $8.177 billion senior secured credit facilities to, among
other things, extend maturities of a portion of the facilities and
amend certain other terms and conditions.  The proposed
transactions would extend approximately $2 billion of existing
term loan maturities to September 2016, a two-and a half year
maturity extension.

The Company is also seeking to extend approximately $1 billion of
its existing Revolving Credit Facility and provide for additional
lending commitments in a New Revolving Credit Facility that will
mature in March 2015, a 2 year maturity extension.  The extended
facilities will be subject to modified interest rates on the
loans. Pursuant to the terms of the Credit Agreement, each
revolver and term lender must determine whether or not to vote for
amendments to execute the transactions and also extend the
maturity of its individual loans.  The Company expects to complete
the amendment and restatement in the middle of March 2010, subject
to meeting customary conditions.

Banc of America Securities LLC, Citigroup Global Markets Inc.,
Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc.,
GE Capital Markets, Inc., J.P. Morgan Securities Inc., and UBS
Securities LLC. are serving as Joint Lead Arrangers and Joint
Bookrunners on the transaction.

                 About Charter Communications

Based in St. Louis, Missouri, Charter Communications, Inc. (Pink
OTC: CHTRQ) -- http://www.charter.com/-- is a broadband
communications company and the fourth-largest cable operator in
the United States.  Charter provides a full range of advanced
broadband services, including advanced Charter Digital Cable(R)
video entertainment programming, Charter High-Speed(R) Internet
access, and Charter Telephone(R).  Charter Business(TM) similarly
provides scalable, tailored, and cost-effective broadband
communications solutions to business organizations, such as
business-to-business Internet access, data networking, video and
music entertainment services, and business telephone.  Charter's
advertising sales and production services are sold under the
Charter Media(R) brand.

Charter Communications and more than a hundred affiliates filed
voluntary Chapter 11 petitions on March 27, 2009 (Bankr. S.D.N.Y.
Case No. 09-11435).  As of March 31, 2009, the Debtors had total
assets of $13,650,000,000, and total liabilities of
$24,501,000,000.  Pacific Microwave filed for bankruptcy April 20,
2009, disclosing assets of not more than $50,000 and debts of more
than $1 billion.

The Hon. James M. Peck presides over the cases.  Richard M. Cieri,
Esq., Paul M. Basta, Esq., and Stephen E. Hessler, Esq., at
Kirkland & Ellis LLP, in New York, serve as counsel to the
Debtors, excluding Charter Investment Inc.  Albert Togut, Esq., at
Togut, Segal & Segal LLP in New York, serves as Charter
Investment, Inc.'s bankruptcy counsel.  Curtis, Mallet-Prevost,
Colt & Mosel LLP, in New York, is the Debtors' conflicts counsel.
Ernst & Young LLP is the Debtors' tax advisors.  KPMG LLP is the
Debtors' independent auditor.  The Debtors' valuation consultants
are Duff & Phelps LLC; the Debtors' financial advisors are Lazard
Freres & Co. LLC; and the Debtors' restructuring consultants are
AlixPartners LLC.  The Debtors' regulatory counsel is Davis Wright
Tremaine LLP, and Friend Hudak & Harris LLP.  The Debtors' claims
agent is Kurtzman Carson Consultants LLC.

Judge James M. Peck of the U.S. Bankruptcy Court for the Southern
District of New York approved the Debtors' pre-arranged joint plan
of reorganization in a bench ruling on Oct. 15, 2009.

On Nov. 30, 2009, Charter Communications, Inc., announced that it
has successfully completed its financial restructuring, which
significantly improves the Company's capital structure by reducing
debt by approximately 40 percent, or approximately $8 billion.

Charter Communications, Inc., has emerged from Chapter 11 under
its pre-arranged Joint Plan of Reorganization, which was confirmed
by the United States Bankruptcy Court for the Southern District of
New York on Nov. 17, 2009.

Bankruptcy Creditors' Service, Inc., publishes Charter
Communications Bankruptcy News.  The newsletter tracks the Chapter
11 proceedings undertaken by Charter Communications and more than
100 of its affiliates.  (http://bankrupt.com/newsstand/or
215/945-7000)


CHRYSLER LLC: Gets OK to Hire DESCO & NAI as Real Estate Brokers
----------------------------------------------------------------
Old CarCo LLC and its units ask the Bankruptcy Court for authority
to employ DESCO Commercial LLC and NAI Farbman as their real
estate brokers nunc pro tunc to January 22, 2010, and nunc pro
tunc to February 4, 2010.

Specifically, the Debtors seek to retain:

  (a) DESCO in connection with the contemplated sale of the
      Debtors' manufacturing facility at 1001 N. Highway Drive,
      2295 and 2300 Hitzert Court and 1050 Dodge Drive, Fenton,
      Missouri, in accordance with the terms of an exclusive
      listing agreement; and

  (b) Farbman in connection with the sale of certain real
      property located at (i) 12311 Mark Twain, Detroit,
      Michigan and (ii) 14250 Plymouth Road, Detroit, Michigan
      in accordance with the terms of an exclusive right to sell
      agreement.

The Brokers are part of the NAI Global Network, which is a premier
network of independent commercial real estate firms and one of the
largest commercial real estate service providers worldwide.

Ronald E. Kolka, the Debtors' chief executive officer, notes that
the Brokers have performed certain real estate brokerage and
related services for the Debtors since the Agreements were
executed and will continue to perform those services pending a
hearing on the Debtors' Application to employ them.

According to Mr. Kolka, initiating work before the completion and
filing of the Application was appropriate because:

  -- proceeding with the sale of the Properties as expeditiously
     as possible furthers the Debtors' efforts to (i)
     efficiently wind-down their Chapter 11 estates as
     contemplated by the Plan and (ii) monetize the Properties
     for the benefit of the Debtors' estates and creditors,
     including their secured lenders who hold the primary
     economic interest in the Properties; and

  -- the Debtors believe that they are authorized to utilize the
     services of the Brokers consistent with the terms and
     conditions of the OCP Order.

A. DESCO

Upon the closing of the sale or exchange of the St. Louis
Property, the Debtors will pay to DESCO, a commission equal to (a)
two percent of the first $30 million of the "Total Consideration"
and (b) three percent of the Total Consideration in excess of
$30 million; provided, however, that:

  * any DESCO Commission payable pursuant to the DESCO Agreement
    will be:

       -- deemed earned upon the closing of the applicable sale
          or exchange of all or any portion of the St. Louis
          Property; and

       -- due and payable solely out of the proceeds derived
          from the sale or exchange of all or any portion of the
          St. Louis Property; and

  * the total DESCO Commission paid to DESCO for all sales
    related to the St. Louis Property will not exceed
    $2,000,000;

  * the DESCO Commission will be one percent of the Total
    Consideration if the buyer is an "Excluded Contact"; and

  * in no event will the DESCO Commission be payable if (A) the
    Court has not entered an order approving the proposed sale
    of all or any portion of the St. Louis Property, to the
    extent that an order is required, (B) the proposed sale
    or exchange of all or any portion of the St. Louis Property
    does not close or (C) the First Lien Lenders acquire the St.
    Louis Property pursuant to the terms of the Plan;

  * in no event will the sum of all DESCO Commissions payable to
    DESCO be less than $250,000.

If all or any portion of the St. Louis Property is sold at auction
under the supervision of the Court and DESCO is entitled to the
payment of a DESCO Commission in connection therewith, the Total
Consideration for purposes of computing the DESCO Commission will
be the greater of: (a) the Total Consideration to be paid pursuant
to any existing contract obtained prior to the Auction, if
applicable; or (b) the Total Consideration to be paid by the
successful bidder at the Auction.

In addition to the DESCO Commission, the Debtors will directly pay
or reimburse DESCO for its reasonable and necessary expenses
actually incurred in connection with the offer and sale of the St.
Louis Property, including, but not limited to, advertising,
signage and brochure costs, which will be billed to the Debtors
and payable within 30 days of receipt of invoice, provided that
the Debtors will not pay or reimburse DESCO for any expenses in
excess of $25,000.

B. Farbman

Upon the closing of the sale or exchange of all or any portion of
the Detroit Properties, the Debtors will pay to Farbman a 10%
commission, provided, however, that (a) any Farbman Commission
will be due and payable at the time of closing solely out of the
proceeds derived from the sale or exchange of all or any portion
of the Detroit Properties; (b) if the buyer is a "Restricted
Party", then the applicable Farbman Commission will be (i) 10% of
the Total Consideration if the sale involves a co-broker,
provided, however, that the commission will be six percent of the
Total Consideration should any co-broker fail to comply with the
requirements of the OCP Order and (ii) six percent of the Total
Consideration if the sale does not involve a co-broker; and (c) in
no event will the Farbman Commission be payable if (i) the Court
has not entered an order approving the proposed sale of all or any
portion of a Detroit Property, to the extent that an order is
required, (ii) the proposed sale or exchange of all or any portion
of the Detroit Properties does not close or (iii) the First Lien
Lenders acquire the applicable Detroit Property pursuant to the
terms of the Plan.  In no event will the sum of all Farbman
Commissions payable to Farbman on account of all sales related to
the Plymouth Road Property be less than $40,000.

In addition to the Farbman Commission, the Debtors will directly
pay or reimburse Farbman for its reasonable and necessary expenses
actually incurred in connection with the offer and sale of the
Detroit Properties, which will be billed to the Debtors and
payable within 30 days of the Court's approval of the expenses as
reasonable and necessary.  The Debtors and Farbman have agreed to
establish a budget for the expenses prior to Farbman incurring the
expenses and the total is not expected to exceed $50,000.

The Debtors indemnify the Brokers against all losses, damages,
expenses, claims, suits and liabilities to the extent arising out
of or resulting from the Brokers' negligent or intentional acts or
omissions or those of their personnel.

Daniel W. Hayes, a principal at DESCO, and Douglas P. Fura, a
senior vice president of Farbman, assure the Court that their
firms are each "disinterested persons" as that term is defined in
Section 101(14) of the Bankruptcy Code.

                     About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge, Ram
Truck, Mopar(R) and Global Electric Motorcars (GEM) brand vehicles
and products.  Headquartered in Auburn Hills, Michigan, Chrysler
Group LLC's product lineup features some of the world's most
recognizable vehicles, including the Chrysler 300, Jeep Wrangler
and Ram Truck.  Fiat will contribute world-class technology,
platforms and powertrains for small- and medium-sized cars,
allowing Chrysler Group to offer an expanded product line
including environmentally friendly vehicles.

                        About Chrysler LLC

Chrysler LLC and 24 affiliates on April 30 sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat.  Under the
terms approved by the Bankruptcy Court, the company formerly known
as Chrysler LLC on June 10, 2009, formally sold substantially all
of its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

Bankruptcy Creditors' Service, Inc., publishes Chrysler Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of
Chrysler LLC and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


CHRYSLER LLC: Jacob Consulting Finds $258,750 Cash
--------------------------------------------------
Jacob Consulting, a third-party professional, notifies the Court
that it has identified certain cash assets totaling $258,750 in
which the Debtors, through Chrysler Corp., appear to have a direct
beneficial interest.

William Olah, Esq., at Wilkinson Goeller Modesitt, in Terre Haute,
Indiana, says that the Cash Assets appears to be a creditor
distribution from a 1971 bankruptcy that was a part of a larger
pool of cash assets that was subsequently forfeited to the U.S.
Treasury because the bankrupt debtor no longer exists.

The Debtors probably did not claim the cash because mail to
Chrysler Corp. was returned as undeliverable and Chrysler Corp.
failed to respond to communication for a certain period of time,
Mr. Olah points out.

Jacob Consulting notes that other professionals have been engaged
to recover estate assets.  Accordingly, Jacob Consulting
determined that both the Debtors and the Court would likely be
interested in the return of the Cash for further administration in
the Debtor's bankruptcy.

For these reasons, Jacob Consulting asks the Court to appoint
itself as an "other professional" in order to recover and return
the Cash Assets.

                     About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge, Ram
Truck, Mopar(R) and Global Electric Motorcars (GEM) brand vehicles
and products.  Headquartered in Auburn Hills, Michigan, Chrysler
Group LLC's product lineup features some of the world's most
recognizable vehicles, including the Chrysler 300, Jeep Wrangler
and Ram Truck.  Fiat will contribute world-class technology,
platforms and powertrains for small- and medium-sized cars,
allowing Chrysler Group to offer an expanded product line
including environmentally friendly vehicles.

                        About Chrysler LLC

Chrysler LLC and 24 affiliates on April 30 sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat.  Under the
terms approved by the Bankruptcy Court, the company formerly known
as Chrysler LLC on June 10, 2009, formally sold substantially all
of its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

Bankruptcy Creditors' Service, Inc., publishes Chrysler Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of
Chrysler LLC and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


CHRYSLER LLC: Rejects Contract With Main Street
-----------------------------------------------
Chrysler LLC and its affiliated debtors obtained court approval to
reject an agreement with Main Street Fibers Inc., saying it is no
longer needed for their business operations.

The Debtors entered into the agreement to avail of Main Street's
recycling services for their corporate parts division plant in
Ontario, California.

The Debtors' attorney, Frank Oswald, Esq., at Togut Segal & Segal
LLP, in New York, says that Chrysler Group LLC decided not to
accept an assignment of the agreement in connection with the sale
of the Debtors' assets to Fiat S.p.A.  He adds that the company
has already made alternative arrangements for the services
provided by Main Street.

Chrysler Group is the new company created under the sale
transaction between the Debtors and the Italy-based auto maker.

Mr. Oswald says the agreement is eligible for rejection because it
is an executory contract.

                     About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge, Ram
Truck, Mopar(R) and Global Electric Motorcars (GEM) brand vehicles
and products.  Headquartered in Auburn Hills, Michigan, Chrysler
Group LLC's product lineup features some of the world's most
recognizable vehicles, including the Chrysler 300, Jeep Wrangler
and Ram Truck.  Fiat will contribute world-class technology,
platforms and powertrains for small- and medium-sized cars,
allowing Chrysler Group to offer an expanded product line
including environmentally friendly vehicles.

                        About Chrysler LLC

Chrysler LLC and 24 affiliates on April 30 sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat.  Under the
terms approved by the Bankruptcy Court, the company formerly known
as Chrysler LLC on June 10, 2009, formally sold substantially all
of its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

Bankruptcy Creditors' Service, Inc., publishes Chrysler Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of
Chrysler LLC and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


CHRYSLER LLC: Wants to Abandon Interests in Three Dealerships
-------------------------------------------------------------
Old CarCo LLC, formerly Chrysler LLC, and its debtor-affilaites
seek the Court's authority to abandon of their ownership interests
in three domestic nondebtor subsidiaries that previously operated
Chrysler, Dodge and Jeep dealerships and that are referred to as
"marketing investment dealerships":

  (a) El Monte MID Inc., formerly known as El Monte Chrysler
      Jeep Dodge, Inc.;

  (b) Fox Lake MID Inc., formerly known as Chrysler Jeep Dodge
      of Fox Lake, Inc.; and

  (c) Stoneridge Motors, Inc.

As part of the Fiat Transaction, the Debtors sold substantially
all of their operating assets to New Chrysler.  However, in
connection with the Fiat Transaction, New Chrysler did not
purchase the Ownership Interests in the three Nondebtor
Subsidiaries.  As a result, the Nondebtor Subsidiaries remain 100%
owned by Debtor Old Carco Realty Company LLC, an indirect wholly-
owned Debtor subsidiary of Old Carco.

Corinne Ball, Esq., at Jones Day, in New York, contends that the
Nondebtor Subsidiaries are unprofitable former dealerships that
are no longer in operation at this time and that are in various
stages of liquidation.  Based on available information, the
Debtors believe that the Nondebtor Subsidiaries' assets are either
de minimis or otherwise fully encumbered.

"The Debtors have no source of funding for any further liquidation
activities by the Nondebtor Subsidiaries and, in any event, the
Debtors have determined that there is no value in the Ownership
Interests in these entities," Ms. Ball tells Judge Gonzalez.  She
notes that the Debtors do not exercise and have not exercised any
control over the business or affairs of the Nondebtor Subsidiaries
since before the Fiat Transaction.  She adds that no current
officer, director or member of management of the Debtors is an
officer of any of the Nondebtor Subsidiaries.

The Ownership Interests in the Nondebtor Subsidiaries serve as
collateral for the Debtors' obligations to the First Lien Lenders,
Ms. Ball reveals.  On November 19, 2009, the Court entered the
agreed order authorizing the Debtors to use cash collateral of the
Prepetition Secured Lenders in support of the administration and
disposition of their collateral.

Pursuant to the First Lien Winddown Order, on February 24, 2010,
the First Lien Agent designated the Ownership Interests as
"Excluded Assets" that the First Lien Lenders neither wish to
fund, nor own.  Given the designation of the Ownership Interests
as Excluded Assets, and consistent with the terms of the First
Lien Winddown Order, the Debtors have determined to abandon the
Ownership Interests.

Ms. Ball argues that the abandonment of the Ownership Interests is
appropriate because the they are of inconsequential value and
provide no benefit, and only potential burdens, to the bankruptcy
estates.  She points out that continuing administration of the
Ownership Interests poses potential burdens on the Debtors'
estates to monitor and potentially participate in the winddown of
the Nondebtor Subsidiaries.

A hearing will be held on March 11, 2010, to consider the request.
Objections are due March 8.

                     About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic
alliance with Fiat Group, produces Chrysler, Jeep(R), Dodge, Ram
Truck, Mopar(R) and Global Electric Motorcars (GEM) brand vehicles
and products.  Headquartered in Auburn Hills, Michigan, Chrysler
Group LLC's product lineup features some of the world's most
recognizable vehicles, including the Chrysler 300, Jeep Wrangler
and Ram Truck.  Fiat will contribute world-class technology,
platforms and powertrains for small- and medium-sized cars,
allowing Chrysler Group to offer an expanded product line
including environmentally friendly vehicles.

                        About Chrysler LLC

Chrysler LLC and 24 affiliates on April 30 sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat.  Under the
terms approved by the Bankruptcy Court, the company formerly known
as Chrysler LLC on June 10, 2009, formally sold substantially all
of its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

Bankruptcy Creditors' Service, Inc., publishes Chrysler Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of
Chrysler LLC and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


CISTERA NETWORKS: Earns $38,131 in Fiscal 3rd Quarter
-----------------------------------------------------
Cistera Networks, Inc., filed its quarterly report on Form 10-Q,
showing net income of $38,131 on revenue of $573,444 for the three
months ended December 31, 2009, compared with a net loss of
$537,387 on revenue of $1.1 million for the same period of 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$2.16 million in assets and $4.12 million of debts, for a
stockholders' deficit of [$1.96 million].

The report of the Company's independent auditors on the Company's
consolidated financial statements, as of and for the year ended
March 31, 2009, contains an explanatory paragraph expressing
substantial doubt about the Company's ability to continue as a
going concern.  The "going concern" explanatory paragraph resulted
from, among other things, the substantial losses from operations
the Company has incurred since inception, the Company's liquidity
position and net loss of $4.6 million for the year ended March 31,
2009, and negative working capital of $3.0 million as of March 31,
2009.

The Company had a net loss of $75,435 for the nine months ended
December 31, 2009.  Also, as of December 31, 2009, the Company has
negative working capital of $2.51 million.

As of December 30, 2008, the Company was in default on roughly
$148,000 of principal and accrued interest on certain PP2 Notes
(the "December PP2 Notes").  As of that date, the Company began to
accrue interest on the December PP2 Notes at a default rate of 18%
per annum, which is the maximum allowable rate as stipulated under
the PP2 Note purchase agreement.  As of April 5, 2009, the Company
was in default on approximately $1,100,000 of principal and
accrued interest on certain PP2 Notes (the "April PP2 Notes").  As
of that date, the Company began to accrue interest on the April
PP2 Notes at a default rate of 18% per annum, which is the maximum
allowable rate as stipulated under the PP2 Note purchase
agreement.  The Company will need to renegotiate the payment or
conversion of the principal and interest due on all of the PP2
Notes, or raise additional capital, or a combination of the two.

A full-text copy of the quarterly report is available for free at:

              http://researcharchives.com/t/s?578c

Based in Plano, Texas, Cistera Networks Inc. (OTC BB: CNWT) --
http://www.cistera.com/-- is a provider of enterprise application
communications platforms and services.


CITADEL BROADCASTING: Committee Proposes Chanin as Advisor
----------------------------------------------------------
By this application, the Official Committee of Unsecured
Creditors in Citadel Broadcasting Corp.'s cases seeks to employ
Chanin Capital Partners as its financial advisor, nunc pro tunc to
January 19, 2010.

The Committee asserts that it needs to retain a financial advisor
to help guide it through the Debtors' reorganization efforts and
to assist it in the tasks associated with negotiating and
implementing the Debtors' Chapter 11 plan of reorganization.

Pursuant to an engagement letter, it is expected that CCP will
provide these services to the Committee:

  a. review and analyze the Debtors' operations, financial
     condition, cash flows, business plan, strategy, and
     operating forecasts;

  b. assist in the determination of an appropriate post-
     emergence capital structure for the Debtors;

  c. determine a theoretical range of values for the Debtors on
     a going concern basis;

  d. assist the Committee in developing, evaluating, structuring
     and negotiating the terms and conditions of a restructuring
     or Plan of Reorganization, including the value of the
     securities, if any, that may be issued to the Committee
     under any restructuring or Plan;

  e. assist the Committee in monitoring any sales process and
     evaluating bids to purchase any of the Debtors;

  f. analyze any merger, divestiture, joint-venture, or
     investment transaction;

  g. assist the Committee in analyzing any new debt or equity
     capital;

  h. evaluate the Debtors' debt capacity;

  i. if asked by the legal counsel to the Committee, prepare an
     expert report with respect to the valuation of the Debtors
     and provide expert testimony relating to the report as
     well as other financial matters arising in connection with
     the bankruptcy; and

  j. provide the Committee with other appropriate general
     restructuring advice and litigation support.

As compensation for CCP's services, the Debtors will pay it a
flat monthly rate of $175,000 and a cash restructuring
transaction fee totaling $500,000.  In addition, CCP is entitled
to a financing fee equal to two percent of any capital directly
raised by CCP.

In addition, CCP will be entitled to seek reimbursement for
reasonable and actual out of pocket expenses, including, but not
limited to, travel costs, lodging, meals, research, telephone and
facsimile, costs of reproduction, typing, computer usage, legal
counsel and other direct expenses incurred in connection with CCP
providing professional services to the Committee.

The Debtors will indemnify and hold harmless CCP and its
affiliates against any and all losses, claims, damages,
liabilities, penalties, judgments, awards, costs, fees, expenses
and disbursements including, without limitation, defending any
action, suit, proceedings or investigation unless they are due to
CCP's negligence.

John P. Madden, a director at CCP, assures the Court that his
firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.

In a separate filing, Mr. Madden discloses that one of his firm's
members owns 398 shares of the Debtors' common stock.  However,
he notes that the member has not done any work related to the
Debtors' Chapter 11 cases.  He assures the Court that the member
will not be involved in CCP's representation of the Committee.

Mr. Madden also notes that the Debtors' stock was placed on a
restricted trading list when CCP was retained by the Committee on
January 19, 2010.  Therefore, no member or employee of CCP has
bought or sold any of the Debtors' common stock since the
Committee retained CCP.  He asserts that the member's ownership
of 398 shares of the Debtors' stock is insignificant and that CCP
is a "disinterested person" pursuant to the applicable bankruptcy
rules.

                    About Citadel Broadcasting

Citadel Broadcasting Corporation (OTC BB: CTDB) --
http://www.citadelbroadcasting.com/-- is the third largest radio
group in the United States, with a national footprint reaching
more than 50 markets.  Citadel is comprised of 166 FM stations and
58 AM stations in the nation's leading markets, in addition to
Citadel Media, which is one of the three largest radio networks in
the United States.

Citadel Broadcasting filed for Chapter 11 with 50 affiliates on
Dec. 20, 2009, in Manhattan (Bankr. S.D.N.Y. Case No. 09-17422).
The Company listed assets of $1.4 billion and debt of $2.5 billion
in its Chapter 11 filing.  Kirkland & Ellis LLP is serving as
legal counsel and Lazard Freres & Co. LLC as financial advisor for
the restructuring.  Kurtzman Carson Consultants is serving as
claims and notice agent.

Bankruptcy Creditors' Service, Inc., publishes Citadel
Broadcasting Bankruptcy News.  The newsletter tracks the Chapter
11 proceeding undertaken by Citadel Broadcasting Corp. and other
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


CITADEL BROADCASTING: Committee Proposes FCC Counsel
----------------------------------------------------
The Official Committee of Unsecured Creditors in Citadel
Broadcasting Corp.'s cases asks the Court for authority to retain
Dow Lohnes PLLC as its special counsel for certain Federal
Communications Commission and broadcast regulatory legal matters
in connection with the Chapter 11 cases, nunc pro tunc to
January 28, 2010.

The Committee notes that it selected Dow Lohnes on January 28,
2010, to begin providing services immediately, which Dow Lohnes
has done.

Dow Lohnes will work with the Committee, the Debtors and their
officers, directors, senior management and advisors with respect
to regulatory issues arising under the rules, regulations and
orders of the FCC and the provisions of the Communications Act of
1934, as amended, and related matters, including working with the
Committee and its advisors to ensure that:

  -- the Debtor's filings with the FCC are in full compliance
     with the FCC's rules and regulations and the Communications
     Act;

  -- all necessary and complete filings are made with the FCC;

  -- the reorganized Debtors and their owners satisfy the
     foreign ownership limitations contained in Section 310 of
     the Communications Act;

  -- all FCC requests for information are fully responded to in
     a timely manner; and

  -- the FCC requirements and procedures are fully coordinated
     with and complementary to the proceedings before the
     Bankruptcy Court.

The Debtors will pay Dow Lohnes based on its hourly rates:

    Members                  $500 to $900
    Associates               $230 to $495
    Paraprofessionals        $130 to $250

In addition, the Debtors will reimburse Dow Lohnes for out-of-
pocket expenses incurred in the performance of services.

John R. Feore, Esq., a member of Dow Lohnes, assures the Court
that his firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code.

                    About Citadel Broadcasting

Citadel Broadcasting Corporation (OTC BB: CTDB) --
http://www.citadelbroadcasting.com/-- is the third largest radio
group in the United States, with a national footprint reaching
more than 50 markets.  Citadel is comprised of 166 FM stations and
58 AM stations in the nation's leading markets, in addition to
Citadel Media, which is one of the three largest radio networks in
the United States.

Citadel Broadcasting filed for Chapter 11 with 50 affiliates on
Dec. 20, 2009, in Manhattan (Bankr. S.D.N.Y. Case No. 09-17422).
The Company listed assets of $1.4 billion and debt of $2.5 billion
in its Chapter 11 filing.  Kirkland & Ellis LLP is serving as
legal counsel and Lazard Freres & Co. LLC as financial advisor for
the restructuring.  Kurtzman Carson Consultants is serving as
claims and notice agent.

Bankruptcy Creditors' Service, Inc., publishes Citadel
Broadcasting Bankruptcy News.  The newsletter tracks the Chapter
11 proceeding undertaken by Citadel Broadcasting Corp. and other
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


CITADEL BROADCASTING: Committee Proposes Quinn Emanuel as Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in Citadel
Broadcasting Corp.'s cases asks the Court for authority to retain
Quinn Emanuel Urquhart Oliver & Hedges LLP as its conflicts
counsel, nunc pro tunc to February 3, 2010.

The Committee asserts that it is necessary and appropriate to
retain Quinn Emanuel to render services, including, among others:

  (a) assisting the Committee on matters involving any and all
      entities as to which Stroock & Stroock & Lavan LLP, the
      Committee's lead counsel, has an actual or potential
      conflict of interest;

  (b) assisting the Committee's investigation of the acts,
      conduct, assets, liabilities, intercompany relationships
      and claims and financial condition of the Debtors and
      their non-debtor subsidiaries, the existence of estate
      causes of action and the operation of their businesses to
      the extent that Stroock is conflicted from conducting that
      investigation; and

  (c) performing other legal services as asked by the Committee
      to the extent not duplicative of Stroock.

The Debtors will pay Quinn Emanuel based on its currently hourly
rates, which are $750 to $995 for partners, $400 to $830 for
other attorneys, including counsel positions, and $270 to $320
for legal assistants, case assistants, and law clerks range.

Joseph Minias, Esq., a member of Quinn Emanuel, asserts that his
firm is a "disinterested person" as that term is defined in
Section 101(14) of the Bankruptcy Code.

                    About Citadel Broadcasting

Citadel Broadcasting Corporation (OTC BB: CTDB) --
http://www.citadelbroadcasting.com/-- is the third largest radio
group in the United States, with a national footprint reaching
more than 50 markets.  Citadel is comprised of 166 FM stations and
58 AM stations in the nation's leading markets, in addition to
Citadel Media, which is one of the three largest radio networks in
the United States.

Citadel Broadcasting filed for Chapter 11 with 50 affiliates on
Dec. 20, 2009, in Manhattan (Bankr. S.D.N.Y. Case No. 09-17422).
The Company listed assets of $1.4 billion and debt of $2.5 billion
in its Chapter 11 filing.  Kirkland & Ellis LLP is serving as
legal counsel and Lazard Freres & Co. LLC as financial advisor for
the restructuring.  Kurtzman Carson Consultants is serving as
claims and notice agent.

Bankruptcy Creditors' Service, Inc., publishes Citadel
Broadcasting Bankruptcy News.  The newsletter tracks the Chapter
11 proceeding undertaken by Citadel Broadcasting Corp. and other
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


CITIGROUP MORTGAGE TRUST: DBRS Rates Class 2A2 at 'B'
-----------------------------------------------------
DBRS has assigned the following ratings to the Resecuritization
Trust Certificates, Series 2010-2, issued by Citigroup Mortgage
Loan Trust 2010-2 (the Trust):

  -- $ 6.3 million Class 2A2* rated at C
  -- $ 1.8 million Class 2A2A** rated at BBB
  -- $ 4.4 million Class 2A2B** rated at C
  -- $ 25.8 million Class 3A2 rated at C
  -- $ 11.0 million Class 4A1* rated at AA
  -- $ 9.0 million Class 4A2* rated at C
  -- $ 10.0 million Class 4A1A** rated at AAA
  -- $ 1.0 million Class 4A1B** rated at AA
  -- $ 2.6 million Class 4A2A** rated at BBB
  -- $ 6.4 million Class 4A2B** rated at C
  -- $ 17.3 million Class 5A2* rated at C
  -- $ 5.9 million Class 5A2A** rated at BBB
  -- $ 11.4 million Class 5A2B** rated at C
  -- $ 18.8 million Class 6A1 rated at AAA
  -- $ 8.9 million Class 6A2 rated at C
  -- $ 7.1 million Class 7A2* rated at C
  -- $ 8.4 million Class 7A2A** rated at C

DBRS rates six groups in this resecuritization trust, each
consisting of one senior residential mortgage-backed security
(RMBS).  The ratings on the certificates reflect the credit
enhancement provided by subordination within their respective
groups.  The ratings on the DBRS-rated groups also reflect the
quality of the underlying assets.  Initial Exchangeable
Certificates are exchangeable for Subsequent Exchangeable
Certificates and vice versa in the combinations described in the
private placement memorandum.

Other than the specified classes above, DBRS does not rate any
other certificates in this transaction.

Interest and principal payments on the certificates will be made
on the same day as the underlying distribution date (the 25th of
each month), commencing in March 2010.  For all DBRS-rated groups,
interest payments will be distributed on a pro rata basis to the
certificates within their respective groups.  Principal will be
distributed on a sequential basis to the certificates within their
respective groups until the certificate principal balances thereof
are reduced to zero.

Any losses realized from the underlying securities will be
allocated in a reverse numerical order to the certificates within
their respective groups.

The DBRS-rated groups within the Trust are resecuritizations of
six senior RMBS, represented by six real estate mortgage
investment conduits (REMICs).  The REMICs are backed by pools of
prime or Alt-A, fixed or adjustable rate, first-lien, one- to
four-family residential mortgages.


CLIFFBREAKER RIVERSIDE: Files for Chapter 11 after Deal Reached
---------------------------------------------------------------
Cliffbreaker Riverside Resort, LLC, the owner of both
Cliffbreakers and Lexinton hotel in Rockford, Illinois, has filed
for reorganization under Chapter 11.

Cliffbreakers has reached a deal with its lenders to restructure
its debt, according to wrex.com.  The Company, WREX reports,
related that hotel revenues in Winnebago County were down by 14 of
the past 15 months that lead to too much debt.

The Company expects to emerge from bankruptcy in three to four
months.


COHARIE HOG: Wants Until May 6 to Propose Chapter 11 Plan
---------------------------------------------------------
Coharie Hog Farm, Inc., asks the U.S. Bankruptcy Court for the
Eastern District of North Carolina to extend its exclusive periods
to file a Chapter 11 Plan until May 6, 2010.

Coharie also asks for an extension of its exclusive period to
solicit acceptances of the Plan until 60 days after the plan
filing deadline.

The Debtor relates that an extension will facilitate the analysis
to best finalize the Chapter 11 case.  The Debtor adds that major
creditors are being contacted for their input.

                       About Coharie Hog Farm

Clinton, North Carolina based Coharie Hog Farm, Inc., says it has
been one of the largest swine producers in the U.S., supplying
more than 500,000 hogs a year to a plant operated by Smithfield
Foods Inc.  It produced more than 140 million pounds of pork
annually.  The closely held operation has six storage facilities
with 3.9 million bushels of capacity.  The business used more than
100 contract farmers to raise hogs for market.  Anne Faircloth
owns 75% of the Company and Nelson Waters owns the remaining
quarter.

Coharie Hog Farm filed for Chapter 11 on Nov. 6, 2009 (Bankr. E.D.
N.C. Case No. 09-09737). Terri L. Gardner, Esq., at Nelson Mullins
Riley & Scarborough, LLP, represents the Debtor in its Chapter 11
effort. The petition says assets and debts range from $10,000,001
to $50,000,000.


CONTINENTAL SALES: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Continental Sales & Engineering Corporation
        10201 N. Hague Road
        Indianapolis, IN 46256

Bankruptcy Case No.: 10-02648

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       Southern District of Indiana (Indianapolis)

Judge: James K. Coachys

Debtor's Counsel: Jeffrey M. Hester, Esq.
                  Tucker Hester, LLC
                  429 N Pennsylvania St Ste 100
                  Indianapolis, IN 46204-1816
                  Tel: (317) 833-3030
                  Fax: (317) 833-3031
                  Email: jeff@tucker-hester.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A full-text copy of the Debtor's petition, including a list of its
20 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/insb10-02648.pdf

The petition was signed by Douglas M. Miles, Sr., president of the
Company.


CONVERGYS CORPORATION: Moody's Retains 'Ba1' Corp. Family Rating
----------------------------------------------------------------
Convergys Corporation's Ba1 corporate family rating, SGL-2
speculative grade liquidity rating, and negative rating outlook
remain unchanged following the company's announcement that the
company has agreed to sell its Human Resources Management line of
business to NorthgateArinso.

The last rating action was on May 14, 2009, when Moody's confirmed
Convergys' corporate family and senior unsecured notes ratings at
Ba1 and revised the rating outlook to negative at that time.

Convergys Corporation, headquartered in Cincinnati, Ohio, provides
outsourced customer care, telecommunications and cable billing
services, and human resource services.


COREL CORP: JANA Partners No Longer Holds Shares
------------------------------------------------
JANA Partners LLC disclosed that as of December 31, 2009, it no
longer held shares of Corel Corporation common stock.  JANA
Partners is a private money management firm.  The principals of
JANA Partners are Barry Rosenstein and Gary Claar.

In January 2010, Corel shareholders approved a stock
consolidation, which represented the second and final step in the
acquisition of Corel by Corel Holdings, L.P., a limited
partnership controlled by an affiliate of Vector Capital.
Following approval of the Consolidation, Corel filed articles of
amendment to effect the consolidation with the result that Corel
is now wholly owned by Corel Holdings, L.P., and its affiliates.

Shareholders other than Corel Holdings, L.P., and its affiliates
are to receive cash consideration of US$4.00 in respect of each
pre-consolidation share held by such holder.

Corel's common shares will be delisted from the NASDAQ stock
market and the Toronto Stock Exchange promptly following the
consolidation, and thereafter Corel will cease to be a reporting
issuer under Canadian law and its reporting obligations under U.S.
securities laws will be suspended.

                         About Corel Corp.

Corel Corp. (NASDAQ:CREL) (TSX:CRE) -- http://www.corel.com/-- is
one of the world's top software companies with more than
100 million active users in over 75 countries.  The Company
provides high quality, affordable and easy-to-use Graphics and
Productivity and Digital Media software.  The Company's products
are sold through a scalable distribution platform comprised of
Original Equipment Manufacturers (OEMs), the Company's global
e-Stores, and the Company's international network of resellers and
retail vendors.

At August 31, 2009, the Company had $189.7 million in total assets
against $199.7 million in total liabilities, resulting in
$10.0 million in shareholders' deficit.

Corel's working capital deficiency at August 31, 2009, was
$10.5 million, an increase of $7.7 million from the November 30,
2008, working capital deficiency of $2.8 million.

In November 2009, Standard & Poor's Ratings Services lowered its
long-term corporate credit ratings on Ottawa-based packaged
software provider Corel Corp. to 'B-' from 'B'.  S&P also lowered
the issue-level rating on the company's senior secured credit
facility by one notch to 'B-' from 'B'.  The '3' recovery rating
on the debt is unchanged.


CRAWFORD AND COMPANY: Moody's Affirms 'B1' Corp. Family Rating
--------------------------------------------------------------
Moody's Investors Service has affirmed the ratings of Crawford and
Company (corporate family and senior secured credit facility
ratings of B1) reflecting the company's strong market presence and
stable operating earnings, offset by its high financial leverage
and somewhat weak fundamentals within the claims servicing
industry.  The rating outlook remains stable based on Moody's view
that Crawford will maintain or increase its revenue, generate
consistent operating earnings, and will continue to pay down its
debt and its pension funding shortfall with free cash flow.

"Crawford's operating margins, excluding a large non-cash goodwill
write-down last year, have remained fairly steady despite a
sluggish US economy, and Moody's expect profitability to remain
stable in 2010," said Moody's Senior Credit Officer Paul Bauer.
"Higher than normal unemployment in the US has created a drag on
Crawford's underlying workers' compensation claims servicing base
resulting in poor results for the group's Broadspire unit;
however, the company has maintained strong customer retention
rates and has benefited from good results in some of its other
lines of business.  In particular, Crawford's legal settlement
business is performing well in the current environment, while its
international operations and its US property and casualty claims
businesses continue to maintain good results, though these are
somewhat weaker than in prior periods."  The analyst noted that
the 2009 goodwill write-down of $140 million stemmed from the
Broadspire unit and indicates weakened prospects for the division.

Elaborating on the rationale for its ratings on Crawford, Moody's
said that its B1 rating is based primarily on Crawford's
substantial financial leverage, which includes the addition of a
large debt-like obligation in the form of a pension funding
shortfall.  The aggressive leverage profile leads to a low level
of financial flexibility and low interest and fixed charge
coverage.  Other credit concerns include somewhat weak overall
profitability in recent years with net profit margins (EBIT-to-
revenue) under 5%.

Helping to offset these risks is Crawford's status as a market
leader in many of its specific lines of business.  Crawford has a
well established franchise within the claims management sector and
has developed sophisticated technology and management tools.  The
company also has excellent geographic diversification, with a
presence in over 60 countries, which enables it to service large
multi-national institutions.  Customer relationships are strong
with numerous large and small institutions including insurance
companies, corporations, non-profits, and public-sector
organizations, and the relatively high switching costs faced by
customers helps create a stable revenue and earnings profile.
Crawford does not underwrite or retain insurance risk.

Moody's cited these factors that could lead to a ratings upgrade
for Crawford: EBIT-to-revenue margin above 6%, debt-to-EBITDA
ratio less than 4x on a Moody's-adjusted basis, free cash flow-to-
debt coverage above 8%, and interest coverage above 3x.
Conversely, these factors could lead to a downgrade: EBIT-to-
revenue margin below 3%, debt-to-EBITDA above 5x on a Moody's-
adjusted basis, free cash flow-to-debt coverage less than 5%, or
interest coverage below 1.5x

Moody's last rating action on Crawford took place on September 19,
2006, when the rating agency assigned a B1 rating to the
$310 million senior secured credit facility.  In the same action,
Moody's assigned a B1 corporate family rating to Crawford.

Crawford and Company (NYSE: CRDA and CRDB) is a claims management
service company headquartered in Atlanta, Georgia.  In 2009,
Crawford reported total revenue of $1,048 million and a net loss
of $116 million.  Shareholders' equity at December 31, 2009, was
$61 million.


CROWN CRAFTS: Extends Financing Agreement with CIT
--------------------------------------------------
Crown Crafts, Inc., has amended its financing agreement with CIT
Commercial Services, a subsidiary of CIT Group Inc. that extends
the termination date of the agreement to July 11, 2013.  The
amendment, which will become effective on July 11, 2010, also
permits the Company to declare cash dividends on its common stock
of up to $500,000 in any calendar quarter.

Commenting on the amendment, E. Randall Chestnut, Chairman,
President & Chief Executive Officer of the Company, stated, "We
are very pleased to announce this extension of our financing
agreement and the continuation of our long-valued relationship
with CIT.  We believe that this extension gives us the flexibility
to expand our business and the opportunity to make targeted
acquisitions.  We have renewed confidence that the emergence of
CIT's parent from bankruptcy has strengthened its financial
position and places it in a position to succeed as it services our
liquidity needs."

                       About CIT Commercial

CIT Commercial Services is the nation's leading provider of
factoring and credit protection services to consumer products
companies.  It specializes in serving the apparel, footwear,
furniture, home furnishings, consumer electronics and other
consumer products industries that sell into retail channels of
distribution.

                         About CIT

CIT is a bank holding company with more than $60 billion in
finance and leasing assets that provides financial products and
advisory services to small and middle market businesses.
Operating in more than 50 countries across 30 industries, CIT
provides an unparalleled combination of relationship, intellectual
and financial capital to its customers worldwide.  CIT maintains
leadership positions in small business and middle market lending,
factoring, retail finance, aerospace, equipment and rail leasing,
and vendor finance. Founded in 1908 and headquartered in New York
City, CIT is a member of the Fortune 500.

                          About Crown Crafts

Crown Crafts, Inc. designs, markets and distributes infant and
toddler consumer products, including bedding, blankets, bibs, bath
items and the recently-acquired portfolio of the disposable germ
protection products of Neat Solutions.  Its operating subsidiaries
include Hamco, Inc., in Louisiana and Crown Crafts Infant
Products, Inc. in California.  Crown Crafts is America's largest
distributor of infant bedding, bibs and bath items.  The Company's
products include licensed and branded collections as well as
exclusive private label programs for certain of its customers.

                         *     *     *

As reported in the Troubled Company Reporter on September 7, 2009,
Crown Crafts, Inc. reported a net income of $538,000 for three
months ended June 28, 2009, compared with a net income of $619,000
for the same period in 2008.  The Company's balance sheet at June
28, 2009, showed total assets of $55.33 million, total liabilities
of $32.21 million and stockholders' equity of $23.12 million.

The Company said that there is substantial doubt about its ability
to continue as a going concern.  The Company noted that its
primary lender, The CIT Group/Commercial Services, Inc., a
subsidiary of CIT Group, Inc., reported that its funding strategy
and liquidity position have been adversely affected by on-going
stress in the credit markets, operating losses, credit rating
downgrades, and regulatory and cash restrictions that there is
substantial doubt about its ability to continue as a going
concern.  The Company added that failure of CIT to partially or
completely perform according to the terms of the factoring
agreement or revolving line of credit, or both, could force the
Company to experience funding delays and other losses, expenses
and uncertainties.


CROWN MEDIA: Inks Recapitalization Agreement with Hallmark Cards
----------------------------------------------------------------
Crown Media Holdings, Inc., has approved and executed definitive
agreements relating to a recapitalization of the Company.

On February 9, 2010, the Special Committee of the Board and H C
Crown Corp. ("HCC") approved and executed a Recapitalization Term
Sheet, representing non-binding terms of recapitalization
transactions for the Company.  On February 26, 2010, the Company
entered into the Master Recapitalization Agreement with Hallmark
Cards, HCC and related entities that provides for the
recapitalization transactions.

The Recapitalization transactions include, among other things,
$315.0 million principal amount of HCC debt being restructured
into new debt instruments, $185.0 million principal amount of HCC
debt being converted into convertible preferred stock of the
Company, Class B Common Stock being converted into Class A Common
Stock with Class A Common Stock becoming the only authorized and
outstanding common stock of the Company, and the balance of HCC
debt, which was approximately $600 million at December 31, 2009,
being converted into shares of Class A Common Stock of the
Company.  Upon execution of the Master Recapitalization Agreement,
the automatic termination of the waiver under the existing Amended
and Restated Waiver and Standby Purchase Agreement with Hallmark
Cards, Incorporated and HCC was extended until August 31, 2010;
the waiver defers payment dates on certain HCC debts.

"We believe the consummation of the Recapitalization will be a
very positive development for the Company and with the significant
reduction in our outstanding debt, will help us maintain the
operating health of our company," noted Bill Abbott, President and
CEO of Crown Media.

Other aspects of the Recapitalization concern a Credit Agreement
for the new debt, an amendment to the Tax Sharing Agreement with
Hallmark Cards, a registration rights agreement, mergers of two
intermediate holding companies with the Company, efforts to extend
or replace the Company's revolving line of credit, Hallmark Cards'
willingness to guarantee $30.0 million of a revolving line of
credit, and a standstill agreement of Hallmark entities pursuant
to which such entities agree not to acquire, through December 31,
2013, additional shares of Class A Common Stock of the Company,
subject to certain exceptions, and agree to certain restrictions
on their ability to sell or transfer shares of Class A Common
Stock of the Company until December 31, 2013 and, subject to
lesser restrictions, until December 31, 2020.

Each of the Company (subject to approval by the Special Committee)
and HCC has the right to terminate the Master Recapitalization
Agreement at any time after the later of (x) June 30, 2010, and
(y) 45 days following receipt of notice that the information
statement filed by the Company will not be reviewed by the SEC or
that the SEC staff has no further comments thereon, if the
Recapitalization has not been consummated prior to that date.

Certain aspects of the Recapitalization require stockholder
approval.  Hallmark Entertainment Holdings, Inc. and certain
Hallmark Cards' affiliates as direct or indirect owners of more
than a majority of the Company's voting stock have stated in the
Master Recapitalization Agreement their written consents to these
matters in lieu of holding a meeting of the Company's
stockholders.  No vote of other stockholders will be requested or
required.  The closing of the Recapitalization cannot occur until
20 calendar days after an information statement required by
regulations of the SEC is sent to the stockholders of the Company,
or if said information statement is furnished by sending a Notice
of Internet Availability, until 40 calendar days after such notice
is sent to the stockholders of the Company.

Pursuant to a stipulation relating to a lawsuit filed in
connection with the initial recapitalization proposal of HCC, the
Company may not close the Recapitalization for a period of seven
weeks from the date of providing copies of the definitive
Recapitalization agreements to the plaintiff (March 1, 2010).

A full-text copy of the recapitalization agreement is available at
no charge at http://researcharchives.com/t/s?5740

                    About Crown Media Holdings

Studio City, Calif.-based Crown Media Holdings, Inc. (NASDAQ:
CRWN) -- http://www.hallmarkchannel.com/-- owns and operates
cable television channels dedicated to high quality, broad appeal,
entertainment programming.  The Company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to nearly 90 million subscribers in the
U.S.  Crown Media also operates a second 24-hour linear channel,
Hallmark Movie Channel, available in both HD and SD.  Significant
investors in Crown Media Holdings include: Hallmark Entertainment
Holdings, Inc., a subsidiary of Hallmark Cards, Incorporated,
Liberty Media Corp., and J.P. Morgan Partners (BHCA), LP, each
through their investments in Hallmark Entertainment Investments
Co.; VISN Management Corp., a for-profit subsidiary of the
National Interfaith Cable Coalition: and The DIRECTV Group, Inc.

                       Going Concern Doubt

KPMG LLP, in Denver, expressed substantial doubt about Crown Media
Holdings, Inc. and subsidiaries' ability to continue as a going
concern after auditing the Company's financial statements for the
year ended December 31, 2009.   The independent auditors noted
that of the Company's significant short-term debt obligations.  If
for any reason the Recapitalization is not consummated, the
Company would be unable to meet its obligations which become due
on August 31, 2010, which provides substantial doubt about the
entity's ability to continue.  The Company said it is unlikely
that the Company could obtain, without a guarantee or other
support of Hallmark Cards, other equity or debt financing prior to
August 31, 2010, in order to replace or refinance obligations
becoming due on that date.


CROWN MEDIA: Reports $22.6-Mil Net Loss in 2009; Revenue Down 1%
----------------------------------------------------------------
Crown Media Holdings, Inc., disclosed Thursday its operating
results for the quarter and year ended December 31, 2009.

The net loss for the year ended December 31, 2009, totaled
$22.6 million, or $0.22 per share, compared to $37.2 million, or
$0.36 per share, in the same period of 2008.  Crown Media reported
revenue of $279.6 million for the year ended December 31, 2009, a
1% decrease from $281.8 million for the same period of 2008.
Subscriber fee revenue for the year ended December 31, 2009,
increased 11% to $63.6 million, from $57.2 million in the prior
year.  Advertising revenue decreased 4% to $214.5 million during
the year ended December 31, 2009, from $223.4 million for 2008,
primarily due to declines in viewer ratings across demographic
categories for 2009 compared 2008.

The net income for the quarter ended December 31, 2009, totaled
$373,000, or $0.00 per share, compared to $1.3 million, or $0.01
per share, in the fourth quarter of 2008.  Crown Media reported
revenue of $77.6 million for the fourth quarter of 2009, a 3%
increase from $75.2 million for the fourth quarter of 2008.
Subscriber fee revenue increased 14% to $16.4 million, from
$14.5 million in the prior year's quarter.  Subscriber revenue
increased in 2009 primarily due to an increase in the number of
Hallmark Channel pay subscribers and small contractual rate
increases.  Advertising revenue increased 1% to $60.8 million
during the quarter, from $60.4 million in the fourth quarter of
2008.  The slight increase in advertising revenue during the
fourth quarter of 2009 is due to increased advertising pricing.

"Although we continue to be impacted by the economic challenges
facing our industry, we finished the year with a strong fourth
quarter of ratings success for the holiday season," noted Bill
Abbott, President and CEO of Crown Media.  "With effective cost-
cutting measures implemented throughout the year and increases in
our subscriber fee revenues, we were able to deliver a record year
of Adjusted EBITDA.

"We have been successful in broadening our programming at Hallmark
Channel with a variety of new specials which we aired during the
year, and the upcoming introduction of The Martha Stewart Show in
a two and a half-hour lifestyle programming block.  This growing
distinction between our two channels, and the tremendous expansion
in distribution for Hallmark Movie Channel, will enable both
channels to deliver strong results in 2010 and achieve their full
revenue potential in the long-term.  In addition, we believe that
the recently announced recapitalization and the significant
reduction in our debt will help us maintain the operating health
of our company."

For the fourth quarter of 2009, cost of services increased 11% to
$40.5 million from $36.6 million during the same quarter of 2008.
Within cost of services, programming expenses decreased 2% quarter
over quarter to $32.3 million.  Other cost of services and
amortization of the Company's capital lease decreased 4% from
$3.6 million to $3.4 million for the fourth quarter of 2009.
Salary expense also decreased primarily due to the resignation of
one executive in May 2009.

During the fourth quarter of 2009, the Company exercised its
rights to terminate two agreements in connection with its
January 2010 launch of the Hallmark Channel in high definition.
The estimated costs of termination were approximately
$4.7 million.

Termination of one agreement also resulted in a change in the
estimated life of a related deferred credit that arose in
connection with the sale of the Company's international business
in 2005.  After launch of the high definition service, recurring
monthly expenses under the terminated agreement will cease.
Accordingly, in the fourth quarter of 2009, the Company reduced
the deferred credit by approximately $847,000 and recognized a
gain on the sale of discontinued operations.

For the year ended December 31, 2009, cost of services decreased
to $147.6 million from $153.8 million during 2008.  Within cost of
services, programming expenses decreased 9% period over period to
$127.5 million.  In the second and third quarters of 2008, the
Company entered into amendments to significant programming
agreements which added programs and deferred certain payments for
programming content to periods beyond 2008.  Some of the
amendments resulted in the extension of related program licenses
to cover slightly longer periods of availability, the deferral of
expected delivery of certain programming and the deferral of
certain payments primarily from 2008 until 2009.  The Company
prospectively changed the amortization of program license fees for
any changes in the period of expected usage and/or changes in
license fee.  The effects of these amendments on 2008 amortization
were not significant.  Other cost of services and amortization of
capital lease increased 17% from $13.1 million to $15.3 million
for the year ended December 31, 2009, due to the $980,000 increase
in severance expense recorded in 2009 and the Company's bad debt
expense of $1.3 million for the year ended December 31, 2009, as
compared to $75,000 for the year ended December 31, 2008.

Selling, general and administrative expenses increased to
$12.1 million for the quarter ended December 31, 2009, from
$8.6 million in the year earlier period primarily due to increases
in compensation related to the Company's share-based obligations
of $1.8 million and bonus expenses of $2.5 million offset in part
by a $593,000 decrease in salary expense and a $372,000 decrease
in legal expense.  Marketing expenses of $595,000 for the quarter
ended December 31, 2009, decreased from $6.5 million for the
quarter ended December 31, 2008.  As part of the Company's cost
reduction efforts, promotional and marketing efforts were reduced
overall during the 2009 quarter compared to the fourth quarter of
2008.

In December 2009 the Company concluded that payments for residuals
and participations under its liability to RHI would occur
generally later than originally estimated in December 2006.
Accordingly, the Company reduced the carrying amount of the
liability by $682,000 and recognized a corresponding gain from
sale of film assets in the accompanying statement of operations.

Selling, general and administrative expenses increased to
$47.1 million for the year ended December 31, 2009, from
$46.6 million in 2008.  Marketing expenses decreased to
$6.6 million for the year ended December 31, 2009, from
$19.6 million in 2008.  The Company had five marketing promotions
in 2008 centered on five original movies.  The Company had one
significant marketing promotion in January 2009 centered on an
original movie.

Adjusted EBITDA was $25.4 million for the fourth quarter of 2009
compared to $23.3 million for the same period last year.  Cash
provided by operating activities totaled $4.2 million for the
fourth quarter of 2009 compared to $6.5 million for the same
period last year.

Adjusted EBITDA totaled $81.6 million for the year ended
December 31, 2009, compared to $66.2 million for last year.  Cash
provided by operating activities totaled $37.6 million for the
year ended December 31, 2009, compared to $48.1 million for last
year.

                          Balance Sheet

The Company's balance sheet as of Dec. 31, 2009, showed
$739.3 million in assets and $1.4 billion of debts, for a
stockholders' deficit of $666.9 million.

                       Going Concern Doubt

KPMG LLP, in Denver, expressed substantial doubt about Crown Media
Holdings, Inc. and subsidiaries' ability to continue as a going
concern.   The independent auditors noted that of the Company's
significant short-term debt obligations.

A full text copy of the press release announcing the Company's
operating results is available for free at:

          http://researcharchives.com/t/s?573e

A full text copy of the annual report is available for free at

          http://researcharchives.com/t/s?573f

                    About Crown Media Holdings

Studio City, Calif.-based Crown Media Holdings, Inc. (NASDAQ:
CRWN) -- http://www.hallmarkchannel.com/-- owns and operates
cable television channels dedicated to high quality, broad appeal,
entertainment programming.  The Company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to nearly 90 million subscribers in the
U.S.  Crown Media also operates a second 24-hour linear channel,
Hallmark Movie Channel, available in both HD and SD.  Significant
investors in Crown Media Holdings include: Hallmark Entertainment
Holdings, Inc., a subsidiary of Hallmark Cards, Incorporated,
Liberty Media Corp., and J.P. Morgan Partners (BHCA), LP, each
through their investments in Hallmark Entertainment Investments
Co.; VISN Management Corp., a for-profit subsidiary of the
National Interfaith Cable Coalition: and The DIRECTV Group, Inc.


CTI INDUSTRIES: S&P Affirms Corporate Credit Rating at 'B'
----------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B'
corporate credit rating on Idaho-based CTI.  The outlook is
negative.

In addition, S&P lowered the rating on CTI's senior secured credit
facility to 'B' from 'B+', and revised the recovery rating to '3',
which indicates S&P's expectation of meaningful (50%-70%) recovery
for debt holders in the event of payment default, from '2'.  S&P
affirmed the 'CCC+' issue-level rating on the second-lien term
loan.  The rating action followed the company's announcement that
it plans to amend its credit facility, increase the first-lien
term loan by $15 million, and issue $10 million in holding company
(holdco) notes and preferred equity.

"The ratings on CTI reflect its leveraged capital structure,
modest scale of operations, and customer concentration," said
Standard & Poor's credit analyst Jacqueline Hui.  CTI manufactures
processed food items for the restaurant industry, with about 71%
of volume from precooked products and 29% from uncooked frozen
meat products.  Since 2005, the company is expanding its product
offering with soups, sauces, and dehydrated refried beans.  Many
of its products are custom-developed to meet specific customer
requirements.  The company is a smaller player in the estimated
U.S. $500 billion food-prepared-away-from-home market.  This
market includes many larger competitors, particularly vertically
integrated processors and suppliers of meat such as Tyson Foods
Inc. (BB/Positive/--).  The company focuses its operations in the
west and southwestern regions of the U.S.

CTI has longstanding relationships with its key customers,
although Standard & Poor's believes customer concentration is a
significant risk, as the largest customer makes up slightly less
than 50% of the company's sales.  Loss of a key customer could
adversely affect CTI's operating performance and cash flow.  CTI's
pricing structure with many of its customers reduces its exposure
to raw material and most other cost fluctuations.  However, this
arrangement also limits significant margin improvement from cost
reduction or volume-based profitability.

The negative outlook reflects Standard & Poor's concerns about the
high leverage and potential for constrained liquidity following
the increased capital expenditures related to a new plant
construction.  S&P could consider lowering the ratings if the
company experiences any near-term delays in manufacturing
production, leading to corresponding declines in EBITDA and
covenant cushion levels decrease to less than 10%.  S&P estimates
this could occur if EBITDA declines 4%.  Alternatively, S&P could
consider a revised outlook to stable if the company is able to
demonstrate stability in its credit protection measures.  Although
unlikely in the near term, S&P could consider raising the rating
if the company is able to diversify its business and further
strengthen operating results.


CUMULUS MEDIA: Reports $126.7-Mil. Net Loss for 2009
----------------------------------------------------
Cumulus Media Inc. reported a net loss of $126.7 million on net
revenue of $256.05 million for 12 months ended Dec. 31, 2009,
compared with a net loss of $361.7 million on net revenue of
$311.5 million for 2008.

The Company recorded $6.51 million of net income on $69.60 million
of net revenue for the three months ended Dec. 31, 2009, compared
with a net loss of $393.71 on $75.06 million of net revenues for
the same period a year ago.

A full-text copy of the Company's press release on its fourth
quarter and full year 2009 results is available for free at
http://ResearchArchives.com/t/s?578b

                        About Cumulus Media

Atlanta, Georgia, Cumulus Media Inc. (NASDAQ: CMLS) --
http://www.cumulus.com/-- is the second largest radio broadcaster
in the United States based on station count, controlling
approximately 350 radio stations in 68 U.S. media markets.  In
combination with its affiliate, Cumulus Media Partners, LLC, the
Company believes it is the fourth largest radio broadcast company
in the United States when based on net revenues.

                           *     *     *

According to the Troubled Company Reporter on Dec. 8, 2009,
Standard & Poor's Ratings Services lowered its corporate credit
rating on radio broadcaster Cumulus Media Inc. to 'B-' from 'B'.
The rating outlook is stable.

Cumulus Media Inc. reported a net loss of $126.7 million on net
revenue of $256.05 million for 12 months ended Dec. 31, 2009,
compared with a net loss of $361.7 million on net revenue of
$311.5 million for 2008.


CUMULUS MEDIA: Names Joseph Hannan as Senior Vice President
-----------------------------------------------------------
Cumulus Media Inc. appointed Joseph P. Hannan as Senior Vice
President, Treasurer and Chief Financial Officer effective
March 3, 2010.  Mr. Hannan served as Interim Chief Financial
Officer since he was appointed July 1, 2009.

Atlanta, Georgia, Cumulus Media Inc. (NASDAQ: CMLS) --
http://www.cumulus.com/-- is the second largest radio broadcaster
in the United States based on station count, controlling
approximately 350 radio stations in 68 U.S. media markets.  In
combination with its affiliate, Cumulus Media Partners, LLC, the
Company believes it is the fourth largest radio broadcast company
in the United States when based on net revenues.

                           *     *     *

According to the Troubled Company Reporter on Dec. 8, 2009,
Standard & Poor's Ratings Services lowered its corporate credit
rating on radio broadcaster Cumulus Media Inc. to 'B-' from 'B'.
The rating outlook is stable.

Cumulus Media Inc. reported a net loss of $126.7 million on net
revenue of $256.05 million for 12 months ended Dec. 31, 2009,
compared with a net loss of $361.7 million on net revenue of
$311.5 million for 2008.


DANNY'S FAMILY: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Danny's Family Companies, LLC
        15509 N. SCOTTSDALE RD.
        Scottsdale, AZ 85254

Bankruptcy Case No.: 10-05792

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Sarah Sharer Curley

Debtor's Counsel: Bert L. Roos, Esq.
                  5045 N. 12th St, Suite B
                  Phoenix, AZ 85014
                  Tel: (602) 242-7869
                  Fax: (602) 242-5975
                  Email: blrpc85015@msn.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Dennis M. Naughton, general counsel of
the Company.

Debtor-affiliates that filed separate Chapter 11 petitions:

    Debtor                              Case No.
    ------                              --------
Danny's Car Services, LLC               10-05793
  Assets: $1,000,001 to $10,000,000
  Debts: $1,000,001 to $10,000,000
Dannys Scottsdale & TB, LLC             10-05794
National Car Care Development Corp.     10-05795
84th & Bell, LLC                        10-05796
3rd & Bell, LLC                         10-05797
Dannys Tatum, LLC                       10-05798
83rd & Union Hills, LLC                 10-05799
Mayo & Scottsdale Family Car Wash, LLC  10-05800
Dannys Glass, LLC                       10-05801
Dannys Fuel, LLC                        10-05802
Danny's Commercial Properties, LLC      10-05772
  Assets: $1,000,001 to $10,000,000
  Debts: $1,000,001 to $10,000,000


DAVID NICHOLS: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: David Scott Nichols
          dba David Nicholas Construction
        1541 4th Street
        San Rafael, CA 94901

Bankruptcy Case No.: 10-10764

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Debtor's Counsel: Michael C. Fallon, Esq.
                  Law Offices of Michael C. Fallon
                  100 E St. #219
                  Santa Rosa, CA 95404
                  Tel: (707) 546-6770
                  Email: mcfallon@fallonlaw.net

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $2,858,761
and total debts of $2,254,033.

A full-text copy of Mr. Nichols' petition, including a list of his
3 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/canb10-10764.pdf

The petition was signed by Mr. Nichols.


DELPHI ASSOCIATES: Founders Charged in Securities Fraud
-------------------------------------------------------
The Securities and Exchange Commission on March 4 charged a self-
proclaimed psychic who fraudulently raised $6 million after
telling investors he could predict stock market highs and lows.

The SEC's charges were filed in U.S. District Court for the
Southern District of New York against Sean David Morton, who bills
himself as "America's Prophet," as well as three corporate
entities that Morton co-owns with his wife Melissa Morton under
the umbrella of the Delphi Associates Investment Group.

According to the SEC's complaint, Morton began soliciting
investors around the summer of 2006 by telling them that he would
use his psychic expertise to provide investment guidance to his
investing team. In one newsletter to potential investors, Morton
falsely stated: "I have called ALL the highs and lows of the
market giving EXACT DATES for rises and crashes over the last 14
years."  Morton used his monthly newsletter, his Web site, his
appearances on a nationally syndicated radio show, and appearances
at public events to promote his psychic abilities.  Morton made
numerous materially false representations relating to his psychic
abilities to solicit investors for the Delphi Investment Group.

"Morton's self-proclaimed psychic powers were nothing more than a
scam to attract investors and steal their money," said George S.
Canellos, Director of the SEC's New York Regional Office.

The SEC alleges that Morton told investors he would pool their
funds to trade in foreign currencies. However, according to the
SEC's complaint, Morton lied to investors about his past successes
and about key aspects of the Delphi Investment Group, including
the use of investor funds and the liquidity of the funds. He
falsely claimed that the profits in the accounts were audited and
certified.

According to the SEC's complaint, Morton fraudulently raised more
than $6 million from more than 100 investors for the Delphi
Investment Group. Morton invested only about half of the funds
with foreign currency trading firms. Unbeknownst to investors,
instead of investing all of the funds into foreign currency
trading firms, Morton or his wife diverted some of the investor
funds. For instance, the Mortons diverted at least $240,000 of
investor funds to their own nonprofit religious organization,
Prophecy Research Institute.

Melissa Morton and PRI are named as relief defendants in the SEC's
complaint.  Corporate entities co-owned by Morton who are charged
as defendants in the SEC's enforcement action are Vajra
Productions, LLC, 27 Investments, LLC, and Magic Eight Ball
Distributing, Inc.

The SEC's complaint charges each of the defendants with violations
of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933,
and Section 10(b) of the Securities Exchange Act of 1934 and Rule
10b-5 thereunder. The complaint further charges that the relief
defendants were unjustly enriched by receiving investor funds. The
complaint seeks a final judgment permanently restraining and
enjoining the defendants from future violations of the above
provisions of the federal securities laws.  The complaint further
seeks a final judgment ordering the defendants, jointly and
severally, to disgorge their ill-gotten gains plus prejudgment
interest, ordering the relief defendants to disgorge their ill-
gotten gains plus prejudgment interest, and ordering the
defendants to pay financial penalties. The complaint also seeks a
final judgment ordering the defendants and relief defendants to
provide a verified accounting.


DELTATHREE INC: Posts $367,000 Net Loss in Q3 2009
--------------------------------------------------
deltathree, Inc., filed its quarterly report on Form 10-Q, showing
a net loss of $367,000 on $4.8 million of revenue for the three
months ended September 30, 2009, compared with a net loss of
$4.0 million on $4.8 million of revenue for the same period of
2008.

The Company's balance sheet as of September 30, 2009, showed
$4.4 million in assets and $4.8 million of debts, for a
stockholders' deficit of $412,000.

The Company has sustained significant operating losses in recent
periods, which has resulted in a significant reduction in its cash
reserves.   As of September 30, 2009, the Company had negative
working capital equal to roughly $1.1 million as well as negative
stockholders' equity equal to roughly $412,000.  "Management
believes that the Company will continue to experience losses and
increased negative working capital and negative stockholders'
equity in the near future and may not be able to return to
positive cash flow before it requires additional cash."

The Company believes there is substantial doubt about the
Company's ability to continue as a going concern.

A full-text copy of the quarterly report is available for free at:

               http://researcharchives.com/t/s?5796

Based in New York, deltathree, Inc. provides integrated Voice over
Internet Protocol, or VoIP, telephony services, products, hosted
solutions and infrastructure.


DHILLON PROPERTIES: Can Hire Kung & Associates as Bankr. Counsel
----------------------------------------------------------------
The Hon. Gregg W. Zive of the U.S. Bankruptcy Court for the
District of Nevada authorized Dhillon Properties LLC, to employ
Kung & Associates as counsel.

Kung & Associates is expected to represent the Debtor in the
Chapter 11 proceedings.

To the best of the Debtor's knowledge, Kung & Associates is a
"disinterested person" as that term is defined in Section 101 (14)
of the Bankruptcy Code.

The firm can be reached at:

     Kung & Associates
     214 South Maryland Pkwy., Suite A
     Las Vegas, NV 89101
     Tel: (702) 382-0883
     Fax: (702) 382-2720

Elko, Nevada-based Dhillon Properties LLC, dba Holiday Inn
Express, filed for Chapter 11 bankruptcy on Dec. 31, 2009 (Bankr.
D. Nev. Case No. 09-54640).  A.J. Kung, Esq., who has an office in
Las Vegas, Nevada, assists the Company in its restructuring
effort.  In its petition, the Company said it has assets of
$13,217,541, and total debts of $9,260,886.


DHILLON PROPERTIES: Files Schedules of Assets and Liabilities
-------------------------------------------------------------
Dhillon Properties LLC filed with the U.S. Bankruptcy Court for
the District of Nevada its schedules of assets and liabilities,
disclosing:

    Name of Schedule              Assets         Liabilities
    ----------------            -----------      -----------
A. Real Property               $13,000,000
B. Personal Property              $217,540
C. Property Claimed as
    Exempt
D. Creditors Holding
    Secured Claims                                $8,900,000
E. Creditors Holding
    Unsecured Priority
    Claims                                          $110,290
F. Creditors Holding
    Unsecured Non-priority
    Claims                                          $311,055
                                -----------      -----------
       TOTAL                    $13,217,540       $9,321,345

Elko, Nevada-based Dhillon Properties LLC, dba Holiday Inn
Express, filed for Chapter 11 bankruptcy on Dec. 31, 2009 (Bankr.
D. Nev. Case No. 09-54640).  A.J. Kung, Esq., who has an office in
Las Vegas, Nevada, assists the Company in its restructuring
effort.


DHILLON PROPERTIES: Has Access to Wells Fargo Cash Until June 30
----------------------------------------------------------------
The Hon. Gregg W. Zive of the U.S. Bankruptcy Court for the
District of Nevada approved the stipulation, extending Dhillon
Properties LLC's access to Wells Fargo Bank, N.A.'s cash
collateral until June 30, 2010.

The Debtor would use the rents and profits of Holiday Inn Express
in Elko, Nevada to fund its business operations.

As of the petition date, the Debtor owed Wells Fargo, as trustee
for the registered holders of Credit Suisse First Boston Mortgage
Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2007-C5, $11,686,088 plus accruing attorney's fees,
interest and costs.

Wells Fargo Bank consented to the Debtor's limited use of cash
collateral provided that, among other things:

   -- the Debtor will turnover to its debtor-in-possession bank
      account all cash collateral used to pay the prepetition
      wages or salaries of Bawa Dhillon, Krista Thornson and
      Danielle Valdez well as all the cash collateral used to pay
      the prepetition legal fees of its counsel Kung & Associates;

   -- no person, firm or entity will be authorized to collect cash
      collateral on behalf of the Debtor without the prior written
      consent of Wells Fargo, and without the person's firm's or
      entity's written agreement to be bound by the terms of the
      stipulation; and

   -- the Debtor will not engage in any use of the property or
      sell, lease, hypothecate or transfer any of the property
      other than in the ordinary course of business without the
      prior written consent of Wells Fargo or order of the Court.

As adequate protection for any diminution in value of the lenders'
collateral, the Debtors will grant Wells Fargo replacement liens
on the Debtor's property, in the same priority as existed
prepatition.  The Debtor will also provide Wells Fargo monthly
adequate protection payments of $20,000.

                  About Dhillon Properties LLC

Elko, Nevada-based Dhillon Properties LLC, dba Holiday Inn
Express, filed for Chapter 11 bankruptcy on Dec. 31, 2009 (Bankr.
D. Nev. Case No. 09-54640).  A.J. Kung, Esq., who has an office in
Las Vegas, Nevada, assists the Company in its restructuring
effort.  In its petition, the Company said it has assets of
$13,217,541, and total debts of $9,260,886.


DIGITAL LIGHTWAVE: Earns $204,000 in Q3 2009
--------------------------------------------
Digital Lightwave, Inc., filed its quarterly report on Form 10-Q,
showing net income of $204,000 on $3.2 million of revenue for the
three months ended September 30, 2009, compared with net income of
$370,000 on $4.1 million of revenue for the same period of 2008.

The Company's balance sheet as of September 30, 2009, showed
$6.5 million in assets and $41.6 million of debts, for a
stockholders' deficit of $35.1 million.

Grant Thornton LLP, in Tampa, Florida, expressed substantial doubt
about the Company's ability to continue as a going concern after
auditing the Company's consolidated financial statements for the
year ended December 31, 2008.  The independent auditors noted that
of the Company's net losses in 2008 and 2007, and stockholders'
deficit of $33.7 million as of December 31, 2008.

In its Form 10-Q report for the third quarter ended September 30,
2009, the Company said that while it has been exploring
alternative financing to raise additional funding, it has not
identified a funding source other than Optel Capital, LLC that
would be willing to provide current or future financing.

A full-text copy of the quarterly report is available for free at:

                  http://researcharchives.com/t/s?5790

                        About the Company

Clearwater, Fla.-based Digital Lightwave, Inc., provides the
global fiber-optic communications industry with products and
technology used to develop, install, maintain, monitor and manage
fiber-optic communication networks.


DIPAK DESAI: Files Schedules of Assets & Liabilities
----------------------------------------------------
Dipak Desai filed with the U.S. Bankruptcy Court for the District
of Nevada its schedules of assets and liabilities, disclosing:

  Name of Schedule                   Assets       Liabilities
  ----------------                   ------       -----------
A. Real Property                 $2,000,000

B. Personal Property            $20,324,179

C. Property Claimed as
   Exempt

D. Creditors Holding
   Secured Claims                                   $1,167,555

E. Creditors Holding
   Unsecured Priority
   Claims                                                   $0

F. Creditors Holding
   Unsecured Non-priority
   Claims                                             $725,000
                              -------------       ------------
TOTAL                           $22,324,179         $1,892,555

Las Vegas, Nevada-based Dipak Desai, aka Dipak Desai, M.D.,
Chartered, filed for Chapter 11 bankruptcy protection on
February 26, 2010 (Bankr. D. Nev. Case No. 10-13050).  Bruce
Thomas Beesley, Esq., at Lewis And Roca LLP, and Michael F. Lynch,
Esq., who has an office in Las Vegas, Nevada, assists the Debtor
in its restructuring effort.


DIPAK DESAI: Section 341(a) Meeting Scheduled for April 1
---------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of creditors
in Dipak Desai's Chapter 11 case on April 1, 2010, at 3:00 p.m.
The meeting will be held at 300 Las Vegas Boulevard, South, Room
1500, Las Vegas, NV 89101.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Las Vegas, Nevada-based Dipak Desai, aka Dipak Desai, M.D.,
Chartered, filed for Chapter 11 bankruptcy protection on
February 26, 2010 (Bankr. D. Nev. Case No. 10-13050).  Bruce
Thomas Beesley, Esq., at Lewis And Roca LLP, and Michael F. Lynch,
Esq., who has an office in Las Vegas, Nevada, assists the Debtor
in its restructuring effort.  According to the schedules, the
Company has assets of $22,324,179, and total debts of $1,892,555.


DIPAK DESAI: Taps Nossaman as Bankruptcy Counsel
------------------------------------------------
Dipak Desai has sought authorization from the U.S. Bankruptcy
Court for the District of Nevada to employ John T. Hansen at
Nossaman LLP as bankruptcy counsel.

Nossaman will provide the Debtor legal representation in the
Debtor's Chapter 11 bankruptcy case.

The Debtor and the proposed counsel didn't disclose how the
counsel will be compensated for his services.

Mr. Hansen assures the Court that Nossaman is "disinterested" as
that term is defined in Section 101(14) of the Bankruptcy Code.

Las Vegas, Nevada-based Dipak Desai, aka Dipak Desai, M.D.,
Chartered, filed for Chapter 11 bankruptcy protection on
February 26, 2010 (Bankr. D. Nev. Case No. 10-13050).  According
to the schedules, the Company has assets of $22,324,179, and total
debts of $1,892,555.


DIPAK DESAI: Wants Lewis & Roca as Local Counsel
------------------------------------------------
Dipak Desai has asked for permission from the U.S. Bankruptcy
Court for the District of Nevada to employ Bruce T. Beesley at
Lewis & Roca, LLP, as associate Nevada counsel.

Lewis & Roca will be responsible for being counsel upon whom
documents and other papers issued out of the Court will be served
and for the transmission of copies of the documents and other
papers so served to the admitted out-of-state counsel of record
and keep that counsel informed as to the status of the case.

The Debtor and the proposed local counsel didn't disclose how the
local counsel will be compensated for his services.

The Debtor assures the Court that Lewis & Roca is "disinterested"
as that term is defined in Section 101(14) of the Bankruptcy Code.

Las Vegas, Nevada-based Dipak Desai, aka Dipak Desai, M.D.,
Chartered, filed for Chapter 11 bankruptcy protection on
February 26, 2010 (Bankr. D. Nev. Case No. 10-13050).  According
to the schedules, the Company has assets of $22,324,179, and total
debts of $1,892,555.


DISH NETWORK: S&P Retains 'Ba3' Corporate Family Rating
-------------------------------------------------------
Moody's Investors Service said that Dish Network Corporation's Ba3
Corporate Family rating and stable outlook are not affected by the
announcement that a U.S. appeals court upheld a lower court's
ruling that despite changes made by Dish to its DVR software, the
company was still infringing on TiVo Inc.'s patents.  Dish and
TiVo have been in litigation since 2004 over TiVo's patent
infringement claim.  As a result of the ruling, the company owes
approximately $300 million in damages through July 2009 and
potentially additional charges should the company be required to
pay for patent infringements since July 2009.  Dish announced that
it will be seeking a further review of the court's latest decision
by the full Federal Circuit.

Moody's notes that if the company fails to win on the further
review, it will have to pay a sizable sum to TiVo, but it will
still have to contend with the future of its DVR product offering.
Its last hope is to gain approval for a design around the TiVo
patents, but if unsuccessful, Dish will need to negotiate a
licensing arrangement with TiVo in order to avoid the risk of
having to disable and replace millions of DVRs at significant
expense.  "Assuming TiVo demands an ongoing monthly fee of $3 per
subscriber, with street estimates of around 8 million Dish
customers with DVR boxes (out of 14.1 million total subscribers),
Moody's estimate that the impact on the company's annual reported
EBITDA, which was $2.7 billion in 2009, would be about
$290 million or 10.7%," stated Neil Begley, a Senior Vice
President at Moody's.  Consequently, Dish's gross debt-to-EBTDA
leverage ratio (incorporating Moody's standard adjustments) would
rise to about 3.3x from its current level of 3.0x (as of
12/31/2009), which is below Moody's >3.5x sustained leverage
trigger for a rating downgrade.  "However, based on Moody's
calculations, Moody's believe that Dish has sufficient financial
flexibility under its credit metrics and significant liquidity to
absorb potential incremental costs associated with a licensing
deal with TiVo," stated Begley".

The last rating action was on September 28, 2006, when Moody's
affirmed Dish's Ba3 CFR.

Dish's ratings were assigned by evaluating factors that Moody's
considers relevant to the credit profile of the issuer, such as
the company's (i) business risk and competitive position compared
with others within the industry; (iii) capital structure and
financial risk; (iii) projected performance over the near to
intermediate term; and (iv) management's track record and
tolerance for risk.  Moody's compared these attributes against
other issuers both within and outside Dish's core industry and
believes Dish's ratings are comparable to those of other issuers
with similar credit risk.

Dish Network Corporation is the third largest pay television
provider in the United States with 14.1 million subscribers as of
12/31/2009.  Annual revenues approximate $11.6 billion.


DOLLAR THRIFTY: Expects Adequate Cash for 2010
----------------------------------------------
Dollar Thrifty Automotive Group Inc., filed its annual report on
Form 10-K, disclosing $45.02 million of net income on $1.5 billion
total revenues for the year ended Dec. 31, 2009, compared with
$346.7 million net loss on $1.6 billion total revenues for the
same period a year ago.

The Company believes that its cash generated from operations, cash
balances and secured vehicle financing programs are adequate to
meet its liquidity requirements during 2010.  The Company has
asset backed medium term note maturities totaling $400 million
that amortize ratably from January 2010 through June 2010, and an
additional $100 million in maturities in December 2010.  The
Company has adequate cash on hand to fund these maturities without
the need for additional financing, although it intends to pursue
additional financing capacity on an opportunistic basis.

A full-text copy of the Company's Annual Report is available for
free at http://ResearchArchives.com/t/s?5727

The Company's balance sheet at Dec. 31, 2009, showed $2.64 billion
in total assets and $2.25 billion in total liabilities.

                       About Dollar Thrifty

Dollar Thrifty Automotive Group, Inc. is headquartered in Tulsa,
Oklahoma.  Driven by the mission "Value Every Time," the Company's
brands, Dollar Rent A Car and Thrifty Car Rental, serve value-
conscious travelers in over 70 countries.  Dollar and Thrifty have
over 600 corporate and franchised locations in the United States
and Canada, operating in virtually all of the top U.S. and
Canadian airport markets.  The Company's approximately 6,400
employees are located mainly in North America, but global service
capabilities exist through an expanding international franchise
network.

In November 2009, Standard & Poor's Ratings Services raised its
corporate credit rating of Dollar Thrifty to 'B-' from 'CCC', in
light of the Company's improved operating and financial
performance that began in mid-2009.  Moody's Investors Service
also upgraded Dollar Thrifty's Probability of Default Rating to
'B3' from 'Caa2' and Corporate Family Rating to 'B3' from 'Caa3'


DONALD YOUNG: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Donald L. Young
                 dba Don's Import Car Clinic
               Patricia Barbara Murray
                 dba Answering and Mail Box Center
               614 Scotland Drive
               Santa Rosa, CA 95409

Bankruptcy Case No.: 10-10762

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtors' Counsel: Michael C. Fallon, Esq.
                  Law Offices of Michael C. Fallon
                  100 E St. #219
                  Santa Rosa, CA 95404
                  Tel: (707) 546-6770
                  Email: mcfallon@fallonlaw.net

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $1,047,218
and total debts of $1,018,548.

A full-text copy of the Debtors' petition, including a list of
their 20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/canb10-10762.pdf

The petition was signed by the Joint Debtors.


DOUBLE E DEVELOPMENT: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Double E Development, Inc.
        5925 Invernes
        Farmington, NM 87402

Bankruptcy Case No.: 10-11063

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Judge: Robert H. Jacobvitz

Debtor's Counsel: George D. Giddens, Jr., Esq.
                  10400 Academy Rd NE, Ste 350
                  Albuquerque, NM 87111-1229
                  Tel: (505) 271-1053
                  Fax: (505) 271-4848
                  Email: dave@giddenslaw.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $1,043,678
and total debts of $556,737.

A list of the Company's 4 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nmb10-11063.pdf

The petition was signed by Darla Evans, president of the company.


DUBAI WORLD: To Hold Informal Meetings with Creditors This Week
---------------------------------------------------------------
The Wall Street Journal's Maria Abi-Habib reports that people
familiar with the matter said Monday Dubai World will hold
informal meetings early this week in London with its creditors to
update them on the progress of, and to work towards, an agreement
on the restructuring of its $22 billion debt.  The sources said no
formal proposal will be presented during the meetings taking place
Monday and Tuesday.  However, if the meetings progress well,
negotiations could advance quickly from this point, one of the
people said, according to the report.

One source told the Journal the meetings would also focus on how
to best use any fresh funds that have been injected into Dubai
World as part of the debt restructuring, another person said.

According to Ms. Abi-Habib, the cost of insuring Dubai's sovereign
debt against default fell sharply Monday and stocks jumped on
signs that Dubai World will approach creditors this week.
According to Ms. Abi-Habib, the Dubai Financial Market's main
index of shares gained 1.7% to 1649.14, extending Sunday's 2.3%
advance.  Citing CMA DataVision, she reports that Dubai's five-
year credit-default-swap spread -- a key measure of credit risk --
tightened around 0.21 percentage point to 4.86 percentage points
in early trading, from about 5.07 late Friday.

As reported by the Troubled Company Reporter on February 16, 2010,
people familiar with the matter have told Zawya Dow Jones that
Dubai World may offer creditors just 60% of the money they are
owed as part of a deal to reschedule $22 billion in debt.

According to Dow Jones Newswires' Mirna Sleiman, one potential
offer being considered in Dubai World's debt-restructuring talks
was a repayment offer of 60 cents on the dollar, paid back after
seven years, and backed up by government guarantees.

Sources told Dow Jones another proposal involves creditors
receiving full payment, including 40% of their Dubai World debt in
the form of assets in Nakheel -- Dubai World's real estate unit --
but with no government guarantee over the same seven-year period.

The TCR on February 19, 2010, said Dubai World will present a
proposal to creditors in March.  According to the TCR, Bloomberg
News, citing a person close to the Dubai government, said the
proposal will be made after valuation of the assets are completed
and after consultations with the Abu Dhabi government and the
United Arab Emirates' Central bank.

According to Bloomberg, all restructuring options are being
considered, including swapping Nakheel's $1.73 billion bonds with
new securities.  A graded loan recovery system is also an option,
which will allow banks wishing earlier repayment lower recovery on
their loans than those who are prepared to wait.

Dubai World and its advisers will attempt to agree on a
restructuring plan with its creditors by April 15 so that
Nakheel's bondholders have time to execute a possible exchange of
their debt, Bloomberg cited the unidentified person as saying.

                        6-Month Standstill

In November 2009, the Troubled Company Reporter ran a story
about Dubai World seeking a six-month standstill on its debt
obligations.  The government of Dubai said it would restructure
Dubai World and has appointed Deloitte LLP to lead the
restructuring effort, naming an executive at the consultancy as
the group's "chief restructuring officer."

Bloomberg News' Arif Sharif and Laura Cochrane said Dubai World
has US$59 billion in liabilities.  Bloomberg said Dubai
accumulated US$80 billion of debt by expanding in banking, real
estate and transportation before credit markets seized up last
year.

The Wall Street Journal said Standard & Poor's in an October
report estimated Dubai World could be responsible for as much as
50% of Dubai's total government and corporate debt load of some
US$80 billion to US$90 billion.

                          Large Exposure

As reported by the Troubled Company Reporter-Europe on Dec. 1,
2009, The Wall Street Journal's Chip Cummins, Dana Cimilluca and
Sara Schaefer Munoz, citing a person familiar with the matter,
said that U.K.'s Royal Bank of Scotland Group PLC, HSBC Holdings
PLC, Barclays PLC, Lloyds Banking Group PLC, Standard Chartered
PLC and ING Groep NV of the Netherlands, are among the
international banks that have large exposure in Dubai World.

RBS has lent roughly US$1 billion to Dubai World, another person
said, according to the Journal.  Sources also told the Journal
Barclays's exposure to Dubai World is roughly US$200 million, and
that exposure is effectively hedged.

David Robertson at The (U.K) Times reported Credit Suisse has
estimated that European banks could have EUR40 billion
(GBP36 billion) in loans to Dubai and much of this could be at
risk if the Gulf emirate defaults.

The Journal, citing people familiar with the matter, said the
banks with the greatest exposure to Dubai World are Abu Dhabi
Commercial Bank and Emirate NBD PJSC, people familiar with the
matter said.

Dow Jones Newswires' Margot Patrick related that a report by the
Emirates Banks Association said the top eight foreign banks in the
United Arab Emirates by lending volume -- HSBC, Standard
Chartered, Barclays, HSBC, Royal Bank of Scotland's ABN Amro,
Citigroup Inc., BNP Paribas SA, Lloyds and Credit Agricole SA's
Calyon, -- extended about US$36 billion in loans in 2008
throughout the federation, without breaking down the loans by
emirate or type of borrower.

                        About Dubai World

Dubai World -- http://www.dubaiworld.ae/-- is Dubai's flag bearer
in global investments.  As a holding company it operates a highly
diversified spectrum of industrial segments and plays a major role
in the emirate's rapid economic growth.  Dubai World's investment
spans four strategic growth areas of 21st Century commerce namely,
Transport & Logistics, Drydocks & Maritime, Urban Development and
Investment & Financial Services.  Dubai World's portfolio includes
DP World, one of the largest marine terminal operators in the
world; Drydocks World & Dubai Maritime City designed to turn Dubai
into a major ship-building and maritime hub; Economic Zones World
which operates several free zones around the world including Jafza
and TechnoPark in Dubai; Nakheel the property developer behind
iconic projects such as The Palm Islands and The World among
others; Limitless the international real estate master planner
with current development projects in various parts of the world;
Leisurecorp a global sports and leisure investment group,
reshaping the industry by unlocking value across investment,
development and brand opportunities; Dubai World Africa which
oversees the regional development and portfolio of investments in
the African continent; and Istithmar World, the group's investment
arm that has a global footprint in finance, capital, leisure,
aviation and various other business ventures.

The Sun Never Sets on Dubai World, its Web site says.


EAST WEST RESORT: Seeks Approval of Asset Sale Protocol
-------------------------------------------------------
East West Resort Development V L.P., L.L.L.P., and its affiliates
ask the U.S. Bankruptcy Court for the District of Delaware to
approve procedures for the sale of certain of their developments.

According to netDockets, the Debtors seek to sell these assets,
either together or in separate lots:

   -- Substantially all of the assets of Greenwood LLC: "Old
      Greenwood is a fully-entitled master planned 923-acre
      year-round community located in Truckee, California, just
      ten minutes from Northstar Mountain.  Completed phases
      include the 18-hole Jack Nicklaus Signature Golf Course
      . . ., 100 single-family golf course home sites, 15 golf
      course villas, and 146 luxury fractional residences (83 of
      which are built)."

   -- Substantially all of the assets of Gray's LLC: "Gray's
      Crossing is a 765-acre single-family home community located
      adjacent to Old Greenwood which is built around a
      members-only, 18-hole Peter Jacobsen/Jim Hardy Golf Course,
      and consists of four distinct neighborhoods: The Bluff's,
      The Ridge, The Woods, and The Meadows.  The Gray's Crossing
      community includes 376 single family lots, of which 294 have
      been sold to date and 82 remain in inventory."

   -- The Jack Nicklaus Signature Golf Course owned by Club
      Company LLC (recognized by GOLF Magazine as one of the 10
      best new public-access courses in America)

   -- The Peter Jacobsen/Jim Hardy Golf Course owned by Club
      Company LLC

netDockets says the Debtors have received expressions of interest
in acquiring the assets from "a number of parties," but are
seeking to proceed with the sale process without a stalking horse
bidder.

According to netDockets, the Debtors want interested buyers to
submit their bids by 5:00 p.m. (Eastern) on April 7, 2010.
Bidders are required to submit a good faith cash deposit equal to
a minimum of 10% of the bid amount.  The Debtors propose to
conduct an auction on April 9 in the event that multiple competing
bids are received.  The hearing to consider approval of asset
sales will be held no later than April 14, 2010.  Objections to
any proposed sale must be filed no later than three days prior to
the sale hearing.

When they filed for bankruptcy, the Debtors reached an agreement
on the terms of a consensual restructuring with a group of key
stakeholders and entered into a plan support agreement
memorializing those terms.  netDockets says the Debtors told the
Court those stakeholders support the proposed sale.

netDockets says the Debtors' lenders are reserving the right to
credit bid their secured claims pursuant to Section 363(k) of the
Bankruptcy Code.

                      About East West Resort

Avon, Colorado-based East West Resort Development V, L.P.,
L.L.L.P., is a limited partnership between Crescent Resort
Development, Inc., and long-standing developer East West Partners,
Inc., that was formed to develop residential and commercial real
estate projects on and around the Northstar at Tahoe Resort in
Lake Tahoe, California.

East West Resort filed for Chapter 11 bankruptcy protection on
February 16, 2010 (Bankr. D. Del. Case No. 10-10452), disclosing
estimated assets and debts at $100,000,001 to $500,000,000.  The
Company's affiliates -- Tahoe Club Company, LLC Tahoe Club
Company, LLC; Tahoe Mountain Resorts, LLC; NMP Holdings, LLC;
Grays Station, LLC; Old Greenwood, LLC; Old Greenwood Realty,
Inc.; Northstar Village Townhomes, LLC; Northstar Big Horn, LLC;
Northstar Trailside Townhomes, LLC; Northstar Iron Horse, LLC; and
Northstar Mountain Properties, LLC -- filed separate Chapter 11
petitions.

Attorneys at Paul, Hastings, Janofsky & Walker LLP, and Richards,
Layton & Finger, P.A., serve as the Debtors' bankruptcy counsel.
The Debtors' financial advisor is Houlihan Lokey Howard & Zukin
Capital, Inc.  The Debtors' claims agent is Epiq Bankruptcy
Solutions.


EMERGENCY MEDICAL: S&P Assigns 'BB+' Rating on Two Loans
--------------------------------------------------------
Standard & Poor's Ratings Services' assigned a 'BB+' issue-level
rating and '2' recovery rating on the new $125 million revolver
and $425 million term loan issued through Emergency Medical
Services Corp.'s AMR Holdco Inc. and EmCare Holdco Inc. units.
The company's issuance of these loans does not affect S&P's 'BB'
rating and stable rating outlook on EMSC.

EMSC will use the proceeds of the transaction to refinance the
existing revolver due in 2011 and the existing term loan B due
2012, as well as to refinance the senior subordinated notes that
became callable after Feb. 15, 2010.  The transaction will require
the outlay of $50 million of cash currently on the balance sheet,
but it will allow the company to improve its liquidity by
addressing near-term maturities and to reduce its total cost of
capital.  The risks in the company's business remain significant
and include the potential for adverse changes in third-party
reimbursement; however, the company's intermediate financial risk
profile mitigates these risks.  In 2009, the company's revenue
increased 6.6% to $2.57 billion, and adjusted EBITDA increased
15.8% to $282 million.

                           Ratings List

                 Emergency Medical Services Corp.

  Corporate Credit Rating                           BB/Stable/--

                            New Rating

                           EmCare HoldCo
                            AMR HoldCo

       US$125 mil Revolver                               BB+
        Recovery Rating                                  2

       US$425 mil Term Loan                              BB+
        Recovery Rating                                  2


EMRISE CORP: Gets "Cure Period" to Achieve Listing Standards
------------------------------------------------------------
EMRISE Corporation has received notice from the staff of NYSE
Regulation that it will allow a cure period through approximately
June 30, 2010, during which EMRISE will take actions to achieve
compliance with NYSE Arca's continued listing standards.  During
this Cure Period, EMRISE common stock will continue to be traded
on the NYSE Arca exchange under the trading symbol "ERI."  The
NYSE staff will continue to monitor EMRISE's planned actions and
EMRISE's stock will continue to include the extension ".BC" to
denote "below compliance."

On January 11, 2010, the Company notified the NYSE Regulation of
its intent to cure its share price deficiency, including specific
steps that the Company planned to undertake to cure such
deficiency.  The Company's planned actions include the selling of
certain assets and paying all outstanding obligations to its
senior lender by the maturity date of June 30, 2010.

On March 1, 2010, NYSE Regulation concluded its evaluation of the
Company and its planned actions.  Based on this evaluation, NYSE
Regulation has accepted EMRISE's request to conduct its planned
actions to achieve compliance with NYSE Arca continued listing
standards within the Cure Period.  The Company understands that
the NYSE Regulation will conduct periodic compliance reviews prior
to the expiration of the Cure Period to assess the Company's
ability to achieve compliance with the NYSE Arca's continued
listing standards.

The Company indicated to NYSE Regulation that it believes the
share price will improve once its debt to its senior lender is
paid in full and the Company can focus on operations.  In the
event that a $1 price per share, or greater, of the Company's
common stock is not attained within the prescribed time period,
the NYSE Arca is expected to commence suspension and delisting
procedures.  There can be no assurance that the Company will be
able to implement the planned actions within the prescribed time
period or that implementation of the planned actions will have a
positive effect on our stock price in a timely manner or at all.

                   About EMRISE Corporation

EMRISE -- http://www.emrise.com-- designs, manufactures and
markets electronic devices, sub-systems and equipment for
aerospace, defense, industrial and communications markets.  EMRISE
products perform key functions such as power supply and power
conversion; radio frequency (RF) and microwave signal processing;
and network access and timing and synchronization of
communications networks.  Primary growth driver applications for
EMRISE products include the use of its RF devices in radio-
controlled improvised explosive device (RCIED) jamming systems,
and the use of its Network Timing and Synchronization products in
edge networks.  EMRISE serves customers in North America, Europe
and Asia through operations in the United States, England and
France.  The Company has built a worldwide base of customers
including a majority of the Fortune 100 in the U.S. that do
business in markets served by EMRISE and many similar-size
companies in Europe and Asia.


ERICKSON RETIREMENT: Farrell Fritz Approved as Conflicts Counsel
----------------------------------------------------------------
Erickson Retirement Communities LLC and its units sought and
obtained permission from the Bankruptcy Court to employ Farrell
Fritz, P.C., as their conflicts counsel, nunc pro tunc to
November 19, 2009.

As conflicts counsel to the Debtors , Farrell Fritz is expected
to:

  (a) advise the Debtors with respect to their powers and duties
      as debtors-in-possession in the continued management and
      operation of their business and properties;

  (b) attend meetings and negotiate with representatives of
      creditors and other parties-in-interest;

  (c) take necessary action to protect and preserve the
      Debtors' estates, including prosecuting actions on the
      Debtors' behalf, defending any action commenced against
      the Debtors and representing the Debtors' interests in
      negotiations concerning litigation in which the Debtors
      are involved, including objections to claims filed against
      the Debtors' estates;

  (d) prepare motions, applications, answers, orders, appeals,
      reports and papers necessary to the administration of the
      Debtors' estates;

  (e) take any necessary action on behalf of the Debtors to
      obtain approval of a Disclosure Schedule and confirmation
      of one or more Chapter 11 plans;

  (f) represent the Debtors in connection with obtaining
      postpetition financing;

  (g) advise the Debtors in connection with any potential sale
      of assets;

  (h) advise the Debtors on the rights of offset and the
      applicability of the "safe harbor" provisions of the
      Bankruptcy Code;

  (i) appear before the Court, any appellate courts and the
      United States Trustee, and protect the interests of the
      Debtors' estates before those Courts and the United States
      Trustee;

  (j) consult with the Debtors regarding tax matters; and

  (k) perform other necessary legal services and provide other
      necessary legal advice to the Debtors in connection with
      the Debtors' Chapter 11 cases, including:

      -- the analysis of the Debtors' leases and executory
         contracts and the assumption, rejection or assignment;

      -- the analysis of the validity of liens against the
         Debtors' interests in property; and

      -- advice on corporate, litigation, employment,
         intellectual property, governmental investigatory,
         regulatory and environmental matters.

The Debtors propose to pay for Farrell Fritz' services according
to the firm's customary hourly rates:

          Title                       Range per Hour
          -----                       -------------
          Partner                     $450 to $625
          Counsel                     $375 to $725
          Associates                  $250 to $395
          Paraprofessionals            $90 to $250

The Debtors also propose to reimburse Farrell Fritz for the
necessary expenses the firm incurred or will incur in connection
with the contemplated services.

Ted A. Berkowitz, Esq., member at Farrell Fritz, discloses that
his firm renders services and may render services to seven
parties and their affiliates in matters unrelated to the Debtors.
Similarly, he notes, Farrell Fritz has rendered services to Key
Bank within the prior two years in matters unrelated to the
Debtors.  In addition, Farrell Fritz notes that four parties
either (i) have a name similar to a client in Farrell Fritz's
client database, or (ii) are or may be related to a current
client.  Mr. Berkowitz maintains that Farrell Fritz does not
represent any of the potential clients in matters related to the
Debtors' Chapter 11 cases.  A list of the current, former and
potential clients of Farrell Fritz is available for free at:

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

Mr. Berkowitz maintains that Farrell Fritz is a "disinterested
person" as the term is defined under Section 101(14) of the
Bankruptcy Code and does not hold any interest adverse to the
Debtors, their estates or their creditors or equity holders.

                      About Erickson Retirement

The Baltimore, Maryland-based Erickson Retirement Communities LLC
owns 20 continuing care retirement communities in 11 states.
Among Erickson's 20 communities, eight are completed, 11 are open
although in construction, and one is in development.  They have
23,000 residents in total.

Erickson, along with affiliates, filed for Chapter 11 on Oct. 19,
2009 (Bankr. N.D. Tex. Case No. 09-37010).  DLA Piper LLP (US)
serves as counsel to the Debtors.  BMC Group Inc. serves as claims
and notice agent.  Houlihan, Lokey, Howard & Zoukin, Inc., is also
serving as investment and financial consultant.  Alvarez & Marsal
is serving as restructuring adviser.

As of September 30, 2009, on a book value basis, ERC had
approximately $2.7 billion in assets, including $2.2 billion of
property and equipment, and $3.0 billion in liabilities.
Liabilities include $195.8 million on the revolving credit,
$347.5 million on construction credit, $64 million in accounts
payable, $47.8 million in subordinate debt, and $475 million in
purchase option deposits.

Bankruptcy Creditors' Service, Inc., publishes Erickson Retirement
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Erickson Retirement Communities LLC and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


ERICKSON RETIREMENT: Strategic Entities Want Share From Proceeds
----------------------------------------------------------------
Strategic Ashby Ponds Lender LLC and Strategic Concord
Landholder, LP, remind the Court that a Second Amended Master
Purchase and Sale Agreement entered between Erickson Retirement
Communities and Redwood-ERC Senior Living Holdings, LLC,
contemplates a bulk sale of the Debtors' assets for $365 million.
However, the Amended MSPA notes that Redwood will be acquiring an
aggregate of $29.4 million of the Debtors' cash as part of the
transaction and that $9 million of the sales proceeds will be paid
to the National Senior Campuses, Inc.  Thus, the net purchase
price is actually $326.6 million, G. Martin Green, Esq., at Baker
Botts L.L.P, in Dallas, Texas, points out.  Moreover, the MSPA
does not allocate the sales price to any particular asset being
purchased but simply reserves a right for Redwood to designate an
allocation for tax purposes only, he notes.

Against this backdrop, the Strategic Entities ask the Court to
determine the allocation of the Transaction Proceeds among the
assets being sold under the Amended MSPA and allocate those
proceeds to the applicable Debtors owning those assets.

Mr. Green insists that there are several unique aspects of the
Debtors' Chapter 11 cases that heighten the significance of
the allocation process and methodology.  The complex capital
structure of the Debtors and the bulk-sale nature of the proposed
restructuring transactions present thorny valuation and
allocation issues, he points out.  He also notes that several of
the Debtors have no independent boards of directors directing
their affairs or that would be in a position to advocate an
allocation of proceeds in favor of those applicable Debtors.
Moreover, the Debtors' Senior Lenders are creditors in multiple
estates, yet they have, by all accounts, been a driving force in
suggesting the adoption of the currently proposed allocation, Mr.
Green cites.

"There is a substantial risk that the allocation being proposed
is designed more to achieve a particular aggregate outcome among
the Senior Lenders than properly based on the relative value of
the assets that are proposed to be sold," the Strategic Entities
allege.

Mr. Green further contends that the relative allocation to
Ashburn Campus LLC and Concord Campus LLC is backward.  He argues
that Concord Campus should actually be valued higher than its
current allocation of $68.8 million, which is given to Ashburn
Campus.  Similarly, Ashburn Campus should be valued at
$59.9 million, the current allocation to Concord Campus, he says.
The Strategic Entities can find no possible way to justify a
$95 million allocation to ERC when, according to the Disclosure
Statement for the Debtors' Third Amended Joint Plan of
Reorganization, ERC has fixed assets with a current book value of
only $23 million.

Against this backdrop, Mr. Green reminds Judge Jernigan that the
Disclosure Statement provides that to the extent any creditor
objections to the allocations, the Court will determine that
dispute.  The Disclosure Statement is clearly not the appropriate
context for the issue of allocation to be determined, he
maintains.  Thus, the Strategic Entities ask the Court to
determine the issues of valuation and allocation in the Debtors'
Chapter 11 cases in connection with Plan confirmation.

                      About Erickson Retirement

The Baltimore, Maryland-based Erickson Retirement Communities LLC
owns 20 continuing care retirement communities in 11 states.
Among Erickson's 20 communities, eight are completed, 11 are open
although in construction, and one is in development.  They have
23,000 residents in total.

Erickson, along with affiliates, filed for Chapter 11 on Oct. 19,
2009 (Bankr. N.D. Tex. Case No. 09-37010).  DLA Piper LLP (US)
serves as counsel to the Debtors.  BMC Group Inc. serves as claims
and notice agent.  Houlihan, Lokey, Howard & Zoukin, Inc., is also
serving as investment and financial consultant.  Alvarez & Marsal
is serving as restructuring adviser.

As of September 30, 2009, on a book value basis, ERC had
approximately $2.7 billion in assets, including $2.2 billion of
property and equipment, and $3.0 billion in liabilities.
Liabilities include $195.8 million on the revolving credit,
$347.5 million on construction credit, $64 million in accounts
payable, $47.8 million in subordinate debt, and $475 million in
purchase option deposits.

Bankruptcy Creditors' Service, Inc., publishes Erickson Retirement
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Erickson Retirement Communities LLC and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


ERICKSON RETIREMENT: Strategic Has OK for Rule 2004 Probe
---------------------------------------------------------
Strategic Ashby Ponds Lender LLC and Strategic Concord Landholder,
LP, obtained a ruling from the Bankruptcy Court granting them
their request to conduct examination of Erickson Retirement
Communities LLC and its units pursuant to Rule 2004 of the Federal
Rules of Bankruptcy Procedure.

The Debtors agreed to Strategic's request to conduct a Rule 2004
examination.

The Debtors' professionals including Houlihan Lokey Howard &
Zukin Capital, are directed to promptly assist the Strategic
Entities in locating documents responsive to their documents
requests in the Debtors' data room.

The Strategic Entities collectively hold claims totaling
$75,000,000 in the Debtors' Chapter 11 cases and are involved in
transactions with Debtors Concord Campus L.P. and Ashburn Campus,
L.L.C.

G. Martin Green, Esq., at Baker Botts L.L.P., in Dallas, Texas,
notes that the Debtors' Amended Joint Plan of Reorganization
purports to extinguish certain of the campus-level debt,
including the interests of the Strategic Entities.  Thus, the
Strategic Entities want to examine the Debtors to determine
whether there are any agreements between the Debtors and other
entities, including the not-for-profit entities and the plan
sponsor, which have not been fully disclosed and other matters
that may impact their claims and rights.

                      About Erickson Retirement

The Baltimore, Maryland-based Erickson Retirement Communities LLC
owns 20 continuing care retirement communities in 11 states.
Among Erickson's 20 communities, eight are completed, 11 are open
although in construction, and one is in development.  They have
23,000 residents in total.

Erickson, along with affiliates, filed for Chapter 11 on Oct. 19,
2009 (Bankr. N.D. Tex. Case No. 09-37010).  DLA Piper LLP (US)
serves as counsel to the Debtors.  BMC Group Inc. serves as claims
and notice agent.  Houlihan, Lokey, Howard & Zoukin, Inc., is also
serving as investment and financial consultant.  Alvarez & Marsal
is serving as restructuring adviser.

As of September 30, 2009, on a book value basis, ERC had
approximately $2.7 billion in assets, including $2.2 billion of
property and equipment, and $3.0 billion in liabilities.
Liabilities include $195.8 million on the revolving credit,
$347.5 million on construction credit, $64 million in accounts
payable, $47.8 million in subordinate debt, and $475 million in
purchase option deposits.

Bankruptcy Creditors' Service, Inc., publishes Erickson Retirement
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Erickson Retirement Communities LLC and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


ERICKSON RETIREMENT: Wilmington Trust Backs HCP Settlement
----------------------------------------------------------
Wilmington Trust FSB, as administrative agent under a July 27,
2007 Credit Agreement, says it supports the terms of the proposed
settlement entered among the Debtors, HCP, Inc., HCP ER2, LP, HCP
ER3, LP and HCP ER6, LP.  However, Wilmington Trust objects to
the HCP Settlement Motion to the extent it seeks relief that will
require certain lenders to enter into a Lender Support Agreement.
Wilmington Trust believes that this requirement is not necessary
to the effectiveness of the HCP Settlement.

Counsel to Wilmington Trust, William L. Medford, Esq., at
Greenberg Traurig, in Dallas, Texas, relates that the HCP
Settlement is part of a series of interrelated global settlements
between the Debtors and several constituencies, including the
Debtors' lenders, and is incorporated into and subject to
approval of the Debtors' Third Amended Joint Plan of
Reorganization.  Thus, the Lenders support of the Amended Plan
and its confirmation is already required as a condition precedent
to the effectiveness of the HCP, he notes.  "In this light, the
Lender Support Agreement is superfluous in that it does not
provide the Debtors or the HCP Entities with any additional
protection beyond that already provided in the Amended Plan."

Wilmington Trust thus asks the Court that relief requested under
the HCP Settlement Motion be modified only to the extent that the
Motion conditions the effectiveness of the HCP Settlement on the
Lenders' execution of a Lender Support Agreement.

                       Other Lenders React

PNC Bank, National Association, objects to the HCP Settlement
Motion on procedural grounds and asserts that any settlement with
the HCP Entities is a part of, and contingent upon, a multi-
faceted global settlement that may only be accomplished through a
Chapter 11 plan of reorganization.  PNC Bank points out that the
HCP Settlement depends on an allocation of the Debtors' asset
sales proceeds, which is best determined in the Plan context.
PNC Bank further discloses that it has not agreed to execute any
Lender Support Agreement nor is it authorized to do so under loan
documents prior to confirmation of a plan.  PNC Bank thus asks
the Court to defer ruling on the HCP Settlement until the time of
a hearing on the confirmation of a plan of reorganization.

Wells Fargo Bank National Association contends that the HCP
Settlement is expressly prohibited by a subordination agreement
entered among Wells Fargo, HCP ER3 and CNL Retirement Partners,
LP.  The Subordination Agreement deeply subordinates the rights
of HCP ER3 to the Ann's Choice's Bonds, Lisa A. Epps, Esq., at
Spencer Fane Britt & Browne LLP, in Kansas City, Missouri, points
out.  She further asserts that a contemplated $8.2 million
settlement payment under the HCP Settlement does not fall
within the Subordination Agreement, and Debtors do not assert
that it does.  Wells Fargo thus asks the Court to deny approval
of the HCP Settlement.  If the Court should grant the HCP
Settlement Motion, Wells Fargo asks the Court to clarify that any
order approving the HCP Settlement Motion provides that the
Settlement Payment will be paid directly to Wells Faro in
accordance with the Subordination Agreement.

In separate filings, Capmark Finance, Inc., Sovereign Bank and
Bank of America, N.A. adopt the concerns raised by Wilmington
Trust and PNC Bank with respect to the HCP Settlement.

Manufacturers and Traders Trust Company, also known as M&T Bank
join in the objections of Wilmington Trust, PNC Bank, Capmark and
BofA.

                      About Erickson Retirement

The Baltimore, Maryland-based Erickson Retirement Communities LLC
owns 20 continuing care retirement communities in 11 states.
Among Erickson's 20 communities, eight are completed, 11 are open
although in construction, and one is in development.  They have
23,000 residents in total.

Erickson, along with affiliates, filed for Chapter 11 on Oct. 19,
2009 (Bankr. N.D. Tex. Case No. 09-37010).  DLA Piper LLP (US)
serves as counsel to the Debtors.  BMC Group Inc. serves as claims
and notice agent.  Houlihan, Lokey, Howard & Zoukin, Inc., is also
serving as investment and financial consultant.  Alvarez & Marsal
is serving as restructuring adviser.

As of September 30, 2009, on a book value basis, ERC had
approximately $2.7 billion in assets, including $2.2 billion of
property and equipment, and $3.0 billion in liabilities.
Liabilities include $195.8 million on the revolving credit,
$347.5 million on construction credit, $64 million in accounts
payable, $47.8 million in subordinate debt, and $475 million in
purchase option deposits.

Bankruptcy Creditors' Service, Inc., publishes Erickson Retirement
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Erickson Retirement Communities LLC and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


FIRSTPLUS FINANCIAL: Trustee Has Until March 12 to File Schedules
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
directed Matthew D. Orwig, Chapter 11 trustee for FirstPlus
Financial Group, Inc., to file by March 12, 2010, the Debtor's
schedules of assets and liabilities and statement of financial
affairs.

Based in Beaumont, Texas, FirstPlus Financial Group, Inc. --
http://www.firstplusgroup.com/-- (Pink Sheets: FPFX) is a
diversified company that provides commercial loan, consumer
lending, residential and commercial restoration, facility
(janitorial and maintenance) services, insurance adjusting
services, construction management services and a facilities and
restoration franchise business.  The Company has three direct
subsidiaries, Rutgers Investment Group, Inc., FirstPlus
Development Company and FirstPlus Enterprises, Inc.  In turn,
FirstPlus Enterprises, Inc., has three of its own direct
subsidiaries, FirstPlus Restoration Co., LLC, FirstPlus Facility
Services Co., LLC and The Premier Group, LLC.  FirstPlus
Restoration and FirstPlus Facility jointly own FirstPlus
Restoration & Facility Services Company.  Additionally, FirstPlus
Development has one direct subsidiary FirstPlus Acquisitions-1,
Inc.

A subsidiary of FirstPlus Financial Group -- FirstPlus Financial
Inc. -- filed for Chapter 11 bankruptcy in March 1999 before the
U.S. Bankruptcy Court for the Northern District of Texas, Dallas
Division, amid turmoil in the asset-backed securitization markets
and the lack of a reliable, committed secondary take-out source
for high LTV loans.  A modified third amended plan of
reorganization was confirmed in that case in April 2000.

The Company filed for Chapter 11 protection on June 23, 2009
(Bankr. N.D. Tex. Case No. 09-33918).  Aaron Michael Kaufman,
Esq., and George H. Tarpley, Esq., at Cox Smith Matthews
Incorporated, serves as counsel.  The Debtor has total
assets of $15,503,125 and total debts of $4,539,063 as of June 30,
2008.


FLYING J: Plan Exclusivity Extension Hearing on March 23
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware, in a
bridge order, extended Flying J Inc. and its debtor-affiliates'
exclusive periods to file a Chapter 11 Plan until the final
hearing on the motion, which is scheduled for March 23, 2010.

The Debtors are seeking an extension in their Chapter 11 plan
filing until June 22, 2010, and their solicitation period until
August 22, 2010.

Flying J and its debtor-affiliates have already filed a proposed
Chapter 11 Plan of Reorganization.  The Debtors will begin
soliciting votes on the Plan following approval of the adequacy of
the information in the explanatory Disclosure
Statement.

                            About Flying J

Based in Ogden, Utah, Flying J Inc. -- http://www.flyingj.com/--
is among the 20 largest private companies in America, with 2007
sales exceeding $16 billion.  The fully integrated oil company
employs approximately 14,700 people in the U.S. and Canada through
its interstate operations, transportation, refining and supply,
exploration and production, as well as its financial services and
communications, divisions.

Flying J and six of its affiliates filed for bankruptcy on
December 22, 2008 (Bankr. D. Del. Lead Case No. 08-13384).  Flying
J sought Chapter 11 protections after a precipitous drop in oil
prices and disruption in the credit markets brought to bear
significant short-term pressure on the company's liquidity
position.

Attorneys at Kirkland & Ellis LLP represent the Debtors as
counsel.  Young, Conaway, Stargatt & Taylor LLP is the Debtors'
Delaware Counsel.  Blackstone Advisory Services L.P. is the
Debtors' investment banker and financial advisor.  Epiq Bankruptcy
Solutions LLC is the Debtors' notice, claims and balloting agent.
In its formal schedules submitted to the Bankruptcy Court, Flying
J listed assets of $1,433,724,226 and debts of $640,958,656.

An official committee of unsecured creditors has been appointed in
the case.  Pachulski Stang Ziehl & Jones LLP has been tapped as
counsel for the creditors' panel.


FRANCISCAN COMMUNITIES: Files Schedules of Assets & Liabilities
---------------------------------------------------------------
Franciscan Communities Villa De San Antonio has filed with the
U.S. Bankruptcy Court for the Western District of Texas its
schedules of assets and liabilities, disclosing:

  Name of Schedule                   Assets           Liabilities
  ----------------                   ------           -----------
A. Real Property                   $24,022,899
B. Personal Property               $11,448,023
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                     $37,863,758
E. Creditors Holding
   Unsecured Priority
   Claims                                                 $50,015
F. Creditors Holding
   Unsecured Non-priority
   Claims                                              $1,543,043
                                 --------------      ------------
        TOTAL                       $35,470,922       $39,456,816

San Antonio, Texas-based Franciscan Communities Villa De San
Antonio filed for Chapter 11 bankruptcy protection February 26,
2010 (Bankr. W.D. Texas Case No. 10-50712).  Ronald Hornberger,
Esq., at Plunkett & Gibson, Inc., assists the Company in its
restructuring effort.  The Company listed $10,000,001 to
$50,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


FRANCISCAN COMMUNITIES: Sec. 341(a) Meeting Scheduled for April 5
-----------------------------------------------------------------
The U.S. Trustee for Region 7 will convene a meeting of creditors
in Franciscan Communities Villa De San Antonio's Chapter 11 case
on April 5, 2010, at 8:30 a.m.  The meeting will be held at San
Antonio Room 333, U.S. Post Office Building, 615 E. Houston
Street, San Antonio, TX 78205.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

San Antonio, Texas-based Franciscan Communities Villa De San
Antonio filed for Chapter 11 bankruptcy protection February 26,
2010 (Bankr. W.D. Texas Case No. 10-50712).  Ronald Hornberger,
Esq., at Plunkett & Gibson, Inc., assists the Company in its
restructuring effort.  The Company listed $10,000,001 to
$50,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


FREEDOM COMMUNICATIONS: To Pay $514,000 to CBS, King World
----------------------------------------------------------
Dow Jones Newswires' Eric Morath says Freedom Communications Inc.
has agreed to make a $514,000 payment to CBS Studios Inc. and King
World Productions Inc. so it can continue to air a lineup of
syndicated shows that "Dr. Phil", "Oprah", "Wheel of Fortune",
"Jeopardy!," "Judge Joe Brown" and "CSI: Miami."

Mr. Morath says CBS and King World had threatened to remove the
shows if they didn't receive the payment, which equals half the
total amount Freedom owes them.  CBS and King World will have to
wait alongside other general unsecured creditors for the remainder
of their claims, according to Mr. Morath.

                   About Freedom Communications

Freedom Communications, headquartered in Irvine, California, is a
national privately owned information and entertainment company of
print publications, broadcast television stations and interactive
businesses.  The company's print portfolio includes approximately
90 daily and weekly publications, including approximately 30 daily
newspapers, plus ancillary magazines and other specialty
publications.  The broadcast company's stations -- five CBS, two
ABC network affiliates and one CW affiliate -- reach more than
3 million households across the country.  The Company's news,
information and entertainment Web sites complement its print and
broadcast properties.

Freedom Communications filed for Chapter 11 on Sept. 1, 2009
(Bankr. D. Del. Case No. 09-13046).  Attorneys at Young Conaway
Stargatt & Taylor, and Latham & Watkins LLP serve as Chapter 11
counsel.  Houlihan, Lokey, Howard & Zukin, Inc., serves as
financial advisor while AlixPartners LLC is restructuring
consultant.  Logan & Co. serves as claims and notice agent.

Freedom Communications had $757,000,000 in assets against debts of
$1,077,000,000 as of July 31, 2009.


GENERAL GROWTH: Pershing/Fairholme Offer $3.925-Bil. Investment
---------------------------------------------------------------
General Growth Properties, Inc. (NYSE: GGP) on March 8 announced
that it has received a proposal from Fairholme Capital Management,
LLC, one of its largest unsecured creditors, and Pershing Square
Capital Management, one of GGP's largest equity holders and a
significant unsecured creditor, in which Fairholme and Pershing
Square would commit $3.925 billion of new equity capital at a
value of $15.00 per share to facilitate GGP's emergence from
bankruptcy.  Together with the previously announced $2.625 billion
proposal from Brookfield Asset Management, Inc., this proposal, if
accepted, would provide GGP with more than $6.5 billion of
committed equity capital.  The Company believes that this combined
equity capital along with its anticipated new $1.5 billion debt
issuance -- or the reinstatement of a comparable amount of
existing debt -- would, if accepted, deliver substantially all of
the cash required to fulfill the Company's capital needs in
connection with its emergence from bankruptcy and provide
unsecured creditors with par plus accrued interest in cash.

The GGP Board of Directors will study the proposal consistent with
its fiduciary duties.  The proposal remains subject to approval by
the Board of Directors, approval by the Bankruptcy Court of
proposed fees in the form of warrants and higher and better
offers.

"The proposal from Fairholme and Pershing Square builds on the
significant momentum we have created to return GGP to a strong
financial foundation for the future," said Adam Metz, chief
executive officer of GGP. "Our goal is to raise capital in the
most cost-efficient way to maximize value for all of our
stakeholders. We are pleased with the support shown by one of our
largest unsecured debt holders and one of our largest equity
holders."

In connection with the proposal, Pershing Square Capital
Management's William Ackman has resigned from GGP's Board of
Directors.  "Bill Ackman has made significant contributions to GGP
during his time on the Board.  We understand his decision to
resign to facilitate Pershing Square's participation in this
proposal," continued Mr. Metz.

Under the terms of the proposal, $3.8 billion would be used to
purchase shares of GGP stock at $10.00 per share, and $125 million
will be used to backstop the remaining portion of a $250 million
rights offering by General Growth Opportunities, a new company
that will own certain non-core assets, at a price of $5.00 per
share. Furthermore, the Company would have the right to reduce the
$3.8 billion by $1.9 billion to the extent it is able to raise
equity capital on more attractive terms. The proposal from
Fairholme and Pershing Square is not subject to due diligence.

As previously announced, GGP reached an agreement in principle
with Brookfield Asset Management Inc., one of the world's largest
real estate investors and asset managers, to invest $2.625 billion
in a proposed recapitalization of GGP at a plan value of $15.00
per share and provide par plus accrued interest to unsecured
creditors. The proposed equity commitment from Brookfield is not
subject to due diligence and is subject to definitive
documentation, approval by the Bankruptcy Court of proposed fees
in the form of warrants and higher and better offers. The proposal
is designed to maximize value for all GGP stakeholders and enable
a restructured GGP to emerge from bankruptcy on a standalone basis
with a diverse portfolio of high-quality income-producing assets,
strong cash flow and a solid balance sheet capitalized principally
with long-term non-recourse debt.

                    About General Growth

Based in Chicago, Illinois, General Growth Properties, Inc. --
http://www.ggp.com/-- is the second-largest U.S. mall owner,
having ownership interest in, or management responsibility for,
more than 200 regional shopping malls in 44 states, as well as
ownership in master planned community developments and commercial
office buildings.  The Company's portfolio totals roughly
200 million square feet of retail space and includes more than
24,000 retail stores nationwide.  General Growth is a self-
administered and self-managed real estate investment trust.  The
Company's common stock is trading in the pink sheets under the
symbol GGWPQ.

General Growth Properties Inc. and its affiliates filed for
Chapter 11 on April 16, 2009 (Bankr. S.D.N.Y., Case No.
09-11977).  Marcia L. Goldstein, Esq., Gary T. Holtzer, Esq.,
Adam P. Strochak, Esq., and Stephen A. Youngman, Esq., at Weil,
Gotshal & Manges LLP, have been tapped as bankruptcy counsel.
Kirkland & Ellis LLP is co-counsel.  Kurtzman Carson Consultants
LLC has been engaged as claims agent.  The Company also hired
AlixPartners LLP as financial advisor and Miller Buckfire Co. LLC,
as investment bankers.  The Debtors disclosed
$29,557,330,000 in assets and $27,293,734,000 in debts as of
December 31, 2008.

Bankruptcy Creditors' Service, Inc., publishes General Growth
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by General Growth Properties Inc. and its various
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


GENERAL GROWTH: Shares Resume Trading on the NYSE
-------------------------------------------------
General Growth Properties, Inc., disclosed that the shares of its
common stock will resume trading March 5 on the New York Stock
Exchange (NYSE) under the ticker symbol "GGP."

"We are very pleased to again be listed on the world's largest and
most liquid trading market," said Adam Metz, Chief Executive
Officer of GGP.  "Today's listing culminates a successful week for
GGP stakeholders during which we also received an important
extension of the time we have to exclusively propose a plan for
the company to emerge from bankruptcy.  We are committed to using
the time to continue to explore alternatives in order to provide
fair value for our stakeholders."

In conjunction with today's NYSE listing, GGP stock has
concurrently ceased trading in the over-the-counter Pink Sheet
markets, where it used the ticker symbol "GGWPQ."  The seamless
transition to the NYSE requires no action on the part of
shareholders.

                    About General Growth

Based in Chicago, Illinois, General Growth Properties, Inc. --
http://www.ggp.com/-- is the second-largest U.S. mall owner,
having ownership interest in, or management responsibility for,
more than 200 regional shopping malls in 44 states, as well as
ownership in master planned community developments and commercial
office buildings.  The Company's portfolio totals roughly
200 million square feet of retail space and includes more than
24,000 retail stores nationwide.  General Growth is a self-
administered and self-managed real estate investment trust.  The
Company's common stock is trading in the pink sheets under the
symbol GGWPQ.

General Growth Properties Inc. and its affiliates filed for
Chapter 11 on April 16, 2009 (Bankr. S.D.N.Y., Case No.
09-11977).  Marcia L. Goldstein, Esq., Gary T. Holtzer, Esq.,
Adam P. Strochak, Esq., and Stephen A. Youngman, Esq., at Weil,
Gotshal & Manges LLP, have been tapped as bankruptcy counsel.
Kirkland & Ellis LLP is co-counsel.  Kurtzman Carson Consultants
LLC has been engaged as claims agent.  The Company also hired
AlixPartners LLP as financial advisor and Miller Buckfire Co. LLC,
as investment bankers.  The Debtors disclosed
$29,557,330,000 in assets and $27,293,734,000 in debts as of
December 31, 2008.

Bankruptcy Creditors' Service, Inc., publishes General Growth
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by General Growth Properties Inc. and its various
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


GENERAL MOTORS: Extends Deadline to Sell Hummer to May 1
--------------------------------------------------------
In a gesture of optimism to news that several parties are still
interested in acquiring its HUMMER brand, General Motors extended
its self-imposed deadline for the sale of the brand to May 1,
2010.  The company has also extended the franchise agreements of
153 surviving U.S. dealerships to May 1, according to
motorauthority.com.

In a statement dated February 24, 2010, GM vice president of
corporate planning and alliances, John Smith, said GM is starting
to work with HUMMER employees, dealers and suppliers "to wind down
the business in an orderly and responsible manner."

GM's talks with China's Sichuan Tengzhong Heavy Industrial
Machines Co., Ltd., to sell HUMMER failed.  Tengzhong was unable
to complete the acquisition as IT failed to win its government's
approval of the sale, and because the banks that agreed to finance
Tengzhong have pulled out of the deal partly because of concerns
about whether HUMMER can be run profitably without a factory in
China, a source close to the transaction told Keith Bradsher of
234next.com.

Autotalk.com reported that GM is considering new offers for its
HUMMER brand of sports utility and military-style vehicles.

                        About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 209,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

GM acquired its operations from General Motors Company, n/k/a
Motors Liquidation Company, on July 10, 2009, pursuant to a sale
under Section 363 of the Bankruptcy Code.  Motors Liquidation or
Old GM is the subject of a pending Chapter 11 reorganization case
before the U.S. Bankruptcy Court for the Southern District of New
York.

At September 30, 2009, GM had US$107.45 billion in total assets
against US$135.60 billion in total liabilities.

                    About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  General Motors changed its name to Motors
Liquidation Co. following the sale of its key assets to a company
60.8% owned by the U.S. Government.

The Honorable Robert E. Gerber presides over the Chapter 11 cases.
Harvey R. Miller, Esq., Stephen Karotkin, Esq., and Joseph H.
Smolinsky, Esq., at Weil, Gotshal & Manges LLP, assist the Debtors
in their restructuring efforts.  Al Koch at AP Services, LLC, an
affiliate of AlixPartners, LLP, serves as the Chief Executive
Officer for Motors Liquidation Company.  GM is also represented by
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel.  Cravath, Swaine, & Moore LLP is providing legal advice
to the GM Board of Directors.  GM's financial advisors are Morgan
Stanley, Evercore Partners and the Blackstone Group LLP.

Bankruptcy Creditors' Service, Inc., publishes General Motors
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by General Motors Corp. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


GENERAL MOTORS: Raises Investment Plan for Opel to US$2.58 Bil.
---------------------------------------------------------------
General Motors Co., will increase funding for its Adam Opel GmbH
unit to EUR1.9 billion or US$2.58 billion as part of the Company's
restructuring plan to revitalize its European operations.  GM will
also reduce its request for German state aid to less than
EUR2 billion.

GM had asked Germany to pledge EUR1.5 billion toward a
EUR3.3 billion Opel revamp.  Under its investment plan, GM is (i)
seeking EUR2.7 billion or US$3.7 billion in state loans or credit
guarantees from European governments, (ii) intending to eliminate
8,354 of its 48,000 Opel workers across Europe, (iii) seeking
EUR265 million of yearly savings from unions.

GM's Opel investment boost addresses doubts that have been
clouding up the Opel restructuring plan, which were underscored by
a study delivered to German lawmakers that called the plan "fuzzy"
on how to confine government assistance to European operations,
according to Bloomberg News.  The German government also said that
GM's plan "lacks reliable statements on equity capital . . . and
on whether an insolvency of Opel [after 2013] can be ruled out
with an adequate likelihood," reported the Wall Street Journal.

Spain has been reported to consider providing aid to GM if and
when the Company presents its plans for the Opel plant in
Figueruelas, Industry Minister Miguel Sebastian confirmed on
February 16, 2010, in Madrid, Bloomberg added.

According to Reuters, German trade unionist Klaus Franz has
demanded GM to "invest at least $1.355 billion or EUR1 billion"
and enter constructive talks with the Unions to improve its
chances for getting state aid.

"This commitment by GM removes any potential liquidity risks
during the restructuring this year," Opel said in a statement,
according to the Journal.

"It is of vital importance for GM to demonstrate our commitment
for our European operations," said GM Chairman and Chief Executive
Ed Whitacre.  "Beyond the purely financial aspects, we see this as
a major step towards instilling renewed trust and confidence into
Opel/Vauxhall's customers, employees, business partners, unions,
dealers and European governments," Mr. Whitacre noted.

At a press briefing in Geneva on March 2, 2010, GM Europe Chief
Nick Reilly expressed optimism about obtaining state aid amid
"positive signs" from Germany after GM decided to increase its
pledge for Opel.  Mr. Reilly also stated that GM's decision might
aid in reaching concessions with European labor unions over annual
cost savings worth EUR265 million, reported the Journal.

                        About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 209,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

GM acquired its operations from General Motors Company, n/k/a
Motors Liquidation Company, on July 10, 2009, pursuant to a sale
under Section 363 of the Bankruptcy Code.  Motors Liquidation or
Old GM is the subject of a pending Chapter 11 reorganization case
before the U.S. Bankruptcy Court for the Southern District of New
York.

At September 30, 2009, GM had US$107.45 billion in total assets
against US$135.60 billion in total liabilities.

                    About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  General Motors changed its name to Motors
Liquidation Co. following the sale of its key assets to a company
60.8% owned by the U.S. Government.

The Honorable Robert E. Gerber presides over the Chapter 11 cases.
Harvey R. Miller, Esq., Stephen Karotkin, Esq., and Joseph H.
Smolinsky, Esq., at Weil, Gotshal & Manges LLP, assist the Debtors
in their restructuring efforts.  Al Koch at AP Services, LLC, an
affiliate of AlixPartners, LLP, serves as the Chief Executive
Officer for Motors Liquidation Company.  GM is also represented by
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel.  Cravath, Swaine, & Moore LLP is providing legal advice
to the GM Board of Directors.  GM's financial advisors are Morgan
Stanley, Evercore Partners and the Blackstone Group LLP.

Bankruptcy Creditors' Service, Inc., publishes General Motors
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by General Motors Corp. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


GENERAL MOTORS: Spyker Cars Finalizes Purchase of Saab
------------------------------------------------------
Spyker Cars N.V. confirmed on February 23, 2010, that it has
finalized the deal with General Motors Company to purchase Saab
Automobile AB.  The transfer of ownership took place at 16:30 on
February 23.

Going forward Saab Automobile and Spyker Cars will operate as
sister companies under the umbrella of the Amsterdam Euronext-
listed parent company Spyker Cars N.V.  This transaction secures
the future of Saab Automobile and signals the start of an exciting
new era for the iconic brand, Spyker said.

"We are delighted -- Saab's future is now secure," Victor Muller,
CEO of Spyker Cars NV said.  "From today we will be concentrating
all of our efforts into reviving Saab and transforming it into a
sustainable and profitable company with the confidence to be bold.
We will reinforce the emotional experience between Saab drivers
and their cars and we will focus on Saab's historical strengths in
the fields of independent thinking, aircraft heritage, ecological
performance and motorsport," he continued.

"Through this acquisition we add approximately 15 euros per share
in equity and 60 euros of assets.  With a well-funded business
plan in place we are looking forward to working with Saab's
management on the realization of that plan and bringing exciting
new products to our customers.  Real Saabs, Saab Saabs," added Mr.
Muller.

"Today's announcement is great for Saab's customers, dealers,
suppliers and employees around the globe, the level of passion and
support shown to Saab over recent months has been remarkable and
this does bode well for the future.  Now we aim to get back to the
execution of our business plan, starting with the introduction of
the new 9-5 later this year, and with the continued support of our
employees and business partners I am confident we will succeed,"
Jan Ake Jonsson, CEO of Saab Automobile AB said.

"This transaction represents the successful outcome of months of
hard work and intense negotiations, all aimed at securing a
sustainable future for this unique brand, and we are pleased with
the positive outcome," said John Smith, GM vice president for
corporate planning and alliances.  "This is a great day for Saab
employees, dealers and suppliers, and a great day for millions of
Saab customers and fans worldwide."

On February 27, 2010, Saab received US$2.4 million from the
European Union for "competence development," Bloomberg News
reported, citing Swedish newspaper Dagens Nyheter.

                        About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 209,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

GM acquired its operations from General Motors Company, n/k/a
Motors Liquidation Company, on July 10, 2009, pursuant to a sale
under Section 363 of the Bankruptcy Code.  Motors Liquidation or
Old GM is the subject of a pending Chapter 11 reorganization case
before the U.S. Bankruptcy Court for the Southern District of New
York.

At September 30, 2009, GM had US$107.45 billion in total assets
against US$135.60 billion in total liabilities.

                    About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  General Motors changed its name to Motors
Liquidation Co. following the sale of its key assets to a company
60.8% owned by the U.S. Government.

The Honorable Robert E. Gerber presides over the Chapter 11 cases.
Harvey R. Miller, Esq., Stephen Karotkin, Esq., and Joseph H.
Smolinsky, Esq., at Weil, Gotshal & Manges LLP, assist the Debtors
in their restructuring efforts.  Al Koch at AP Services, LLC, an
affiliate of AlixPartners, LLP, serves as the Chief Executive
Officer for Motors Liquidation Company.  GM is also represented by
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel.  Cravath, Swaine, & Moore LLP is providing legal advice
to the GM Board of Directors.  GM's financial advisors are Morgan
Stanley, Evercore Partners and the Blackstone Group LLP.

Bankruptcy Creditors' Service, Inc., publishes General Motors
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by General Motors Corp. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


GENERAL MOTORS: Whitacre to Receive $9 Mil. as New CEO
------------------------------------------------------
Edward E. Whitacre, Jr. will receive a total pay of $9 million as
chief executive officer of General Motors Co., effective
December 1, 2009, in addition to continuing as Chairman of the
Board of Directors.

Following approval in principle by the Special Master for TARP
Executive Compensation, on February 17, 2010, GM and Mr. Whitacre
agreed to his compensation arrangements, which were effective as
of January 1, 2010, the Company disclosed in a regulatory filing
with the U.S. Securities and Exchange Commission dated
February 19, 2010.

The particulars of Mr. Whitacre's salary include:

  (1) annual cash base salary of $1,700,000 as chairman and CEO;

  (2) participation in benefit plans for executive officers; and

  (3) an additional portion of salary in the form of (i) salary
      stock, awarded pursuant to the provisions of the 2009
      Salary Stock Plan, in the amount of $5,300,000, which will
      be delivered ratably over three years beginning in 2012,
      and (ii) TARP compliant restricted stock units valued at
      $2,000,000, under the Company's 2009 Long-Term Incentive
      Plan.

Mr. Whitacre does not receive additional compensation for his
service on the Company's Board, according to Nick S. Cyprus, Vice
President, controller and chief accounting officer at GM.

Mr. Whitacre has no other reportable relationships with the
Company or its affiliates.

The Company also disclosed that Frederick A. Henderson, who
resigned as a director and CEO of GM on December 1, 2009, entered
into an agreement to engage his services as a consultant on a
month-to-month basis.  Specifically, Mr. Henderson will provide an
estimated 20 hours consulting per month on international
operations and participate in one meeting per month with the
President, International Operations or his designated
representative.

Mr. Henderson will receive a fee of $59,090 payable monthly and
reimbursement of reasonable expenses, according to Mr. Cyprus.

During the period of the Consulting Agreement, Mr. Henderson is
free to provide consulting services to other clients, except that
he may not engage in or perform any services for any business
which designs, manufactures, develops, promotes, or sells any
automobiles or trucks, in competition with or for competitors of
the Company or any of its affiliates.

The agreement will expire on December 31, 2010 unless terminated
earlier by either party.

              Whitacre Overpaid, Rep. Frank Says

Chairman of the House Financial Services Committee Barney Frank
called Mr. Whitacre's $9 million pay package "excessive," reports
The Detroit News.

"He's having a good time there.  I think they way overcompensate
themselves," Rep. Frank said.

U.S. Department of the Treasury's Special Master for Executive
Compensation Kenneth Feinberg said that "the package of total
compensation was appropriate."  GM spokeswoman Renee Rashid-Merem
also said the pay was fair, as Mr. Whitacre "has a proven record
of turning companies around," the newspaper says.

                        About General Motors

General Motors Company -- http://www.gm.com/-- is one of the
world's largest automakers, tracing its roots back to 1908.  With
its global headquarters in Detroit, GM employs 209,000 people in
every major region of the world and does business in some 140
countries.  GM and its strategic partners produce cars and trucks
in 34 countries, and sell and service these vehicles through these
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel,
Vauxhall and Wuling.  GM's largest national market is the United
States, followed by China, Brazil, the United Kingdom, Canada,
Russia and Germany.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

GM acquired its operations from General Motors Company, n/k/a
Motors Liquidation Company, on July 10, 2009, pursuant to a sale
under Section 363 of the Bankruptcy Code.  Motors Liquidation or
Old GM is the subject of a pending Chapter 11 reorganization case
before the U.S. Bankruptcy Court for the Southern District of New
York.

At September 30, 2009, GM had US$107.45 billion in total assets
against US$135.60 billion in total liabilities.

                    About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  General Motors changed its name to Motors
Liquidation Co. following the sale of its key assets to a company
60.8% owned by the U.S. Government.

The Honorable Robert E. Gerber presides over the Chapter 11 cases.
Harvey R. Miller, Esq., Stephen Karotkin, Esq., and Joseph H.
Smolinsky, Esq., at Weil, Gotshal & Manges LLP, assist the Debtors
in their restructuring efforts.  Al Koch at AP Services, LLC, an
affiliate of AlixPartners, LLP, serves as the Chief Executive
Officer for Motors Liquidation Company.  GM is also represented by
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel.  Cravath, Swaine, & Moore LLP is providing legal advice
to the GM Board of Directors.  GM's financial advisors are Morgan
Stanley, Evercore Partners and the Blackstone Group LLP.

Bankruptcy Creditors' Service, Inc., publishes General Motors
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by General Motors Corp. and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


GLASSLINE PARTNERSHIP: Plan of Reorganization Wins Court Approval
-----------------------------------------------------------------
The Hon. Wesley W. Steen if the U.S. Bankruptcy Court for the
Southern District confirmed Glassline Partnership Ltd.'s amended
Plan of Reorganization dated as of February 24, 2010.  The Court
also approved the explanatory Disclosure Statement.

According to the amended Disclosure Statement, all property of
Glassline and its bankruptcy estate will vest in Glassline,
subject to the GECC Loan Documents, the GECC Allowed Secured
Claim, the SBA Loan Documents, the SBA Allowed Claim, and the
liens, interests, security interests, assignments, rights and
remedies granted in the GECC Loan Documents and the SBA Loan
Documents.

Under the Plan, Glassline will fund the Plan out of current and
future net revenues from the operation of its business.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/Glasslinepartnership_DS.pdf

Houston, Texas-based Glassline Partnership Ltd. filed for Chapter
11 bankruptcy protection on November 2, 2009 (Bankr. S.D. Tex.
Case No. 09-38397).  Matthew Hoffman, Esq., at Law Offices of
Matthew Hoffman, p.c., assists the Company in its restructuring
efforts.  The Company listed $10,000,001 to $50,000,000 in assets
and $1,000,001 to $10,000,000 in liabilities.


GOLD CANYON ESTATES: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Gold Canyon Estates, LLC.
        P.O. Box 158
        Vanderpool, TX 78885

Bankruptcy Case No.: 10-13622

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Mike K. Nakagawa

Debtor's Counsel: Charles T. Wright, Esq.
                  Piet & Wright
                  3130 S. Rainbow Blvd., Ste. 304
                  Las Vegas, NV 89146
                  Tel: (702) 566-1212
                  Fax: (702) 566-4833
                  Email: todd.wright@pietwright.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $500,001 to $1,000,000

A full-text copy of the Debtor's petition, including a list of its
3 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/nvb10-13622.pdf

The petition was signed by Ardell H. Nelson, managing member of
the Company.

Debtor-affiliates that filed separate Chapter 11 petitions:

    Debtor                              Case No.
    ------                              --------
Leta Lee                                10-13623
Rudy Labson                             10-13623
Randy Fitzgerald                        10-1362
Teresa Fitzgerald                       10-13624
Michael Reiger                          10-13625


GOLDEN NUGGET: S&P Shifts Probability of Default Rating to 'Ca/LD'
------------------------------------------------------------------
Moody's Investors Service revised The Golden Nugget Inc.'s
Probability of Default Rating to Ca/LD (Limited Default) from Ca.
The company's Ca Corporate Family Rating, Caa3 first lien bank
loan rating, and C second lien note rating were affirmed.  The
rating outlook is stable.

The revision of Golden Nugget's Probability of Default Rating to
Ca/LD from Ca reflects the company's repurchase of approximately
$96 million of its $165 million second lien notes through
February 17, 2010, at a substantial discount (about 60%) to the
face value of the notes.  Moody's views these purchases as a
distressed exchange for the particular securities involved, and
reflects that with an LD designation.  In approximately three
business days Moody's will remove the LD designation from the
Probability of Default Rating.  The affirmation of Golden Nugget's
Corporate Family Rating and individual issue ratings considers
that despite the debt repurchases, the company's leverage remains
very high, at over 9 times.  This significant leverage combined
with Moody's expectation that consumer gaming demand and company
earnings will remain weak, suggests that Golden Nugget's current
capital structure is not sustainable over the longer-term.

Rating revised:

  -- Probability of Default Rating to Ca/LD from Ca

Ratings affirmed and LDG assessments revised where applicable:

  -- Corporate Family Rating at Ca

  -- $50 million first lien revolving credit facility expiring
     2013 at Caa3 (LGD 3, to 41% from 33%)

  -- $210 million first lien term loan due 2014 at Caa3 (LGD 3, to
     41% from 33%)

  -- $120 million first lien delayed-draw term loan due 2014 at
     Caa3 (LGD 3, to 41% from 33%)

  -- $165 million second lien term loan due 2014 at C (LGD 6, to
     90% from 85%)

Moody's last rating action for Golden Nugget occurred on July 24,
2009, when Moody's downgraded the Corporate Family and Probability
of Default Ratings to Ca from Caa1 and assigned a stable outlook.

Golden Nugget, Inc., a wholly-owned unrestricted subsidiary of
Landry's Restaurants, Inc. (B2/on review for possible downgrade),
owns and operates the Golden Nugget hotel, casino, and
entertainment resorts in downtown Las Vegas and in Laughlin
Nevada.  Annual revenue is approximately $265 million.


GOODY'S LLC: Confirms Liquidating Chapter 11 Plan
-------------------------------------------------
Bill Rochelle at Bloomberg News reports that Goody's LLC has
received confirmation of its Chapter 11 plan.

Goody's LLC's liquidating Chapter 11 plan contemplates the
distribution of $7 million remaining from the sale of assets that
generated $119 million.  Unsecured creditors owed more than $114
million are predicted to recover 0.5%.  Workers who were fired
without the notice required by federal law will receive almost
$900,000 on priority claims.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/Goody'sLLC_DS.pdf

A full-text copy of the Plan of Liquidation is available for free
at http://bankrupt.com/misc/Goody'sLLC_Plan.pdf

                       About Goody's LLC

Headquartered in Wilmington, Delaware, Goody's LLC, successor to
Goody's Family Clothing Inc., operates a chain of clothing stores.

Goody's Family Clothing Inc., and 19 of its affiliates filed for
Chapter 11 protection on June 9, 2008 (Bankr. D. Del. Lead Case
No. 08-11133).  Gregg M. Galardi, Esq., and Marion M. Quirk, Esq.,
at Skadden Arps Slate Meagher & Flom LLP, and Paul G. Jennings,
Esq., at Bass, Berry & Sims PLC, represented the Debtors.  The
Company emerged from bankruptcy October 20, 2008, after closing
more than 70 stores.  The reorganized entity was named Goody's
LLC, and headquartered in Wilmington, Delaware.

Goody's subsequently announced plans to liquidate in January
2009 when it was unable to restructure terms with creditors.
Goody's LLC and 13 of its affiliates filed for Chapter 11
protection on January 13, 2009 (Bankr. D. Del. Lead Case No.
09-10124).  M. Blake Cleary, Esq., at Young, Conaway, Stargatt &
Taylor, LLP; Paul G. Jennings, Esq., Gene L. Humphreys, Esq.,
Edward C. Meade, Esq., and Kristen C. Wright, Esq., at Bass Berry
& Sims PLC represent the Debtors as counsel.  Skadden, Arps, Slate
Meagher & Flom, LLP, is the Debtors' special counsel; FTI
Consulting Inc. is the Debtors' financial advisor.  Goody's has
closed its 282 stores and liquidated its inventory and other
assets.  In its schedules, Goody's LLC listed assets of
$542,231,601 and liabilities of $510,471,005.


GRIMES COUNTY: Chapter 9 Case Summary & Unsecured Creditors
-----------------------------------------------------------
Debtor: Grimes County MUD #1
        1001 McKinney Suite 1000
        Houston, TX 77002 6424

Bankruptcy Case No.: 10-31933

Chapter 9 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Debtor's Counsel: O W Bussey, Jr., Esq.
                  Attorney at Law
                  5850 San Felipe, Ste 125
                  Houston, TX 77057
                  Tel: (713) 334-8222
                  Email: owbussey@msn.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The petition was signed by Ken D. Ledbetter, the company's
president.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Mary Anderberg             Bond Holder            $10,000

Jolene Weil Aultman        Bond Holder            $10,000

James C. Brock             Bond Holder            $10,000

Billy T. Collum            Bond Holder            $70,000

Gerald Davidson            Bond Holder            $15,000

Sarah B. Flautt            Bond Holder            $70,000

Alice Doyle                Bond Holder            $20,000
c/o Carl A. Kelly, Jr.

Jack Flautt                Bond Holder            $60,000

Sarah B. Flautt            Bond Holder            $70,000

Albert W. Gentner, Jr.     Bond Holder            $10,000

Harry Julian Henderick     Bond Holder            $40,000

R.T. Hollingsworth, M.D.   Bond Holder            $30,000

Gail Davis Langer          Bond Holder            $10,000

Gerald or Marvin           Bond Holder            $15,000
Lebman

Sam Miliry, Jr.            Bond Holder            $10,000

Palmura State Bank         Bond Holder            $10,000

O.G. Seward                Bond Holder            $15,000

William C. Simmons         Bond Holder            $10,000
c/o W. Eugene Simmons

Frances B. Stock           Bond Holder            $10,000

M.W. Walton                Bond Holder            $20,000

Charles West               Bond Holder            $15,000


HALCYON HOLDING: Gets Nod to Sell Terminator Rights to Pacificor
----------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Halcyon Holding Group
LLC and T Asset Acquisition Co., won approval from the Bankruptcy
Court to sell the sequel and remake rights of the film "Terminator
Salvation," for $29.5 million, plus $5 million to be paid at the
start of filming of each sequel.

The buyers are Deep Value Hedge Income-1, Coca-Cola Co., Pacificor
Fund LP and Pacificor affiliates.

Lions Gate Films Inc. and Columbia Pictures Industries Inc.,
initially making offers individually, eventually bid together and
lost out.

FTI Capital Advisors acted as the banker for the auction,
Peitzman, Weg & Kempinsky LLP represents Halcyon.  Pacificor is
represented by Latham & Watkins.

                       About Halcyon Holding

Halcyon Holding acquired the Terminator franchise in 2007 for
about $25 million.  It had been working on the concept for a fifth
Terminator film when it filed for bankruptcy.

Halcyon Holding Group LLC and two affiliated companies
filed Chapter 11 petitions on Aug. 17, 2009, in Los Angeles,
California (Bankr. C.D. Calif. Case No. 09-31854).  Halcyon said
it has between $50 million and $100 million in both assets and
debts.

Halcyon filed for bankruptcy the same day it launched a court
battle with Pacificor, which provided funding for its film.
Halcyon sued Pacificor and one of its former employees. The suit
was filed after Halcyon's owners failed to make a payment demanded
by Pacificor.


HARRAH'S ENTERTAINMENT: Lenders Amend Terms of $5.5-Bil. Loans
--------------------------------------------------------------
Dow Jones Newswires' Joan E. Solsman reports that Harrah's
Entertainment Inc. lenders agreed to amend the terms of about $5.5
billion in loans made to the casino operator.

According to Dow Jones, Chairman and Chief Executive Gary Loveman
said the revised terms, two years in the making, reduced the
company's debt load by more than $4 billion and improved its
liquidity and maturity profile.  Harrah's also has the option to
extend the loan's due date to 2015.

"We now have even greater financial flexibility as we have
extended all of our maturities until 2015 and beyond," Mr. Loveman
said, according to Dow Jones.

Dow Jones says Harrah's came close to defaulting on its debt
during the depths of the recession but skirted it by negotiating
with its banks and buying bonds back at discounted prices.

According to Dow Jones, as a part of the Harrah's deal, the
company also agreed to purchase about $124 million by face value
of commercial mortgage-backed securities loans for $37 million.
Harrah's began purchasing discounted CMBS loans in the fourth
quarter and has bought some $950 million for about $237 million.
According to the amendments, the borrowers under the CMBS loans
have agreed to pay the selling lenders an additional $48 million
for the loans previously sold.

The Company reported net income of $295.6 million for the fourth
quarter ended December 31, 2009.  The Company reported net income
of $827.6 million for the year ended December 31, 2009.

                    About Harrah's Entertainment

Las Vegas, Nevada-based Harrah's Entertainment, Inc. --
http://www.harrahs.com/-- through its wholly owned subsidiary,
Harrah's Operating Company, Inc., operates nearly 40 casinos
across the United States, primarily under the Harrah's(R),
Caesars(R) and Horseshoe(R) brand names; Harrah's also owns the
London Clubs International family of casinos and the World Series
of Poker(R).  Private equity firms Apollo Global Management and
TPG Capital LP acquired Harrah's in January for $31 billion.

As of June 30, 2009, the Company had $30.7 billion in total assets
and total current liabilities of $1.71 billion, long-term debt of
$19.3 billion, deferred credits and other of $718.2 million,
deferred income taxes of $5.74 billion, and preferred stock of
$2.46 billion.

Harrah's Entertainment carries a 'Caa3' Corporate Family rating,
and a 'Caa3' Probability of default rating from Moody's.  The
ratings "reflect very high leverage and a negative outlook for
gaming demand over the next year," Moody's said in September 2009.


HARVEST ENERGY: S&P Raises Corporate Credit Rating to 'BB-'
-----------------------------------------------------------
Standard & Poor's Ratings Services said it raised its long-term
corporate credit rating on Harvest Energy Trust to 'BB-' from
'B-', and raised its senior unsecured debt rating on Harvest
Operations Corp.'s US$250 million senior unsecured debt issue to
'BB-' from 'CCC'.  Standard & Poor's also removed all the ratings
from CreditWatch with positive implications, where they were
placed Oct. 22, 2009, following the announcement that the Korea
National Oil Co. (A+/Stable/--) would acquire the company for
C$1.8 billion and assume C$2.3 billion of Harvest's debt
outstanding.  The outlook is stable.

At the same time, Standard & Poor's revised the recovery rating on
the unsecured debt issue to '3' from '6'.  Despite S&P's
expectation of more than 100% recovery in the event of default,
S&P has capped the recovery rating at '3' in accordance with its
criteria.

"While the KNOC rating benefits from S&P's assessment of the South
Korean government's ability and willingness to support its
national oil company, that level of sovereign support cannot
extend to KNOC's foreign subsidiary," said Standard & Poor's
credit analyst Michelle Dathorne.  "Nevertheless, KNOC has
extended its financial resources to its new Canadian subsidiary,
which has had a positive effect on Harvest's overall credit
profile.  Credit enhancement from the parent is limited without
explicit guarantees from the parent; therefore, future rating
actions will depend on Harvest's future operational and financial
performance," Ms. Dathorne added.

The upgrade reflects Harvest's much improved financial risk
profile due to the demonstrated financial support from its parent.

The ratings on the trust reflect Standard & Poor's expectations of
negative free cash flow generation during S&P's 12-month forecast
period, the company's small regionally focused reserves portfolio,
the mature characteristics of its conventional oil and gas assets,
and the low (albeit improving) reserve life index associated with
the trust's upstream assets.  In addition, the depressed return
prospects at the North Atlantic refinery negatively affect
Harvest's consolidated profitability.  Somewhat offsetting these
weaknesses, which hamper the rating, are the trust's upstream full
cycle cost profile, which compares favorably with its rating
category peers, the trust's much improved financial risk profile,
and the likelihood of ongoing financial support from KNOC.

The stable outlook reflects Standard & Poor's expectation that
Harvest will maintain its improved financial risk profile as it
proceeds with its near-term organic growth initiatives.  The
positive financial impact of KNOC's equity support is a
significant component in S&P's assessment of the trust's financial
risk profile, and has enhanced its overall credit profile.  A
positive rating action could occur if Harvest can expand its
upstream operations while maintaining a competitive full-cycle
cost profile and moderate cash flow protection measures.  Although
there are no explicit guarantees from KNOC, S&P expects the parent
company would provide financial support if balance sheet metrics
moved below year-end 2009 levels.  As a result, a negative rating
action within S&P's forecast period appears unlikely.


HEARTLAND PUBLICATIONS: May Have Buyer for Three Newspapers
-----------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Heartland
Publications LLC said in a court filing that it received "an
initial expression of interest" from a buyer aiming to acquire
three newspapers.  Heartland scheduled a March 9 hearing for
approval of a change in the approved disclosure statement telling
creditors some of the newspapers may be sold after emergence from
bankruptcy reorganization.  The confirmation hearing for approval
of the Chapter 11 plan remains April 16.

The prepackaged reorganization plan was negotiated before the
Chapter 11 filing in December.

As reported in the Troubled Company Reporter on Feb. 26, 2010, the
Plan proposes to give new $70 million term loans and 90% of the
new equity to holders of $113.7 million in prepetition first-lien
debt.  If the prepetition second lien lenders owed $44.9 million
vote for the Plan, they will receive a class of equity interests
representing 15% of equity value in excess of the difference
between $20 million and payments under a management incentive
plan.  Unsecured creditors are to be paid in full if second-lien
creditors vote for the Plan.  If second lien claimants in Class 4
votes to reject the Plan and the Bankruptcy Court determines in
response to an objection filed by the holder of a second lien
claim, then holders of allowed general unsecured claims will
receive no property or distribution under the Plan.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/Heartland_AmendedDS.pdf

A full-text copy of the Plan is available for free at
http://bankrupt.com/misc/Heartland_AmendedPlan.pdf

                  About Heartland Publications

Headquartered in Clinton, Connecticut, Heartland Publications, LLC
-- http://www.heartlandpublications.com/-- operates 50 paid-
circulation newspapers and numerous free or controlled
distribution products in Georgia, Kentucky, North and South
Carolina, Ohio, Oklahoma, Tennessee, Virginia and West Virginia.
The Company reaches more than 250,000 print subscribers each month
and many others via interactive Web sites.  The Company operates
50 paid-circulation newspapers and numerous free or controlled
distribution products in nine states.

Heartland Publications, LLC -- aka Macon County Times, et al. --
filed for Chapter 11 bankruptcy protection on December 21, 2009
(Bankr. D. Del. Case No. 09-14459).  Kenneth J. Enos, Esq., and
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor,
assist the Company in its restructuring effort.  Duff & Phelps,
Securities LLC is the Debtor's financial advisor.  Epiq Bankruptcy
Solutions is the Debtor's claims and notice agent.  As of
October 31, 2009, the Debtor has $134.3 million in assets and
$166.2 million in liabilities.


HOLLY ENERGY: Moody's Affirms Corporate Family Rating at 'Ba3'
--------------------------------------------------------------
Moody's Investors Service affirmed Holly Energy Partners, L.P.'s
Ba3 Corporate Family Rating, Ba3 Probability of Default Rating, B1
(LGD 5, changed to 73% from 81%) senior unsecured note ratings,
and speculative grade liquidity SGL-3 rating.  At the same time,
Moody's rated HEP's proposed $150 million senior unsecured notes
offering B1 (LGD 5; 73%).  HEP's rating outlook is stable.
Moody's also moved HEP's parent and general partner Holly
Corporation's rating outlook to stable from positive and affirmed
Holly Corporation's Ba3 Corporate Family Rating, Ba3 Probability
of Default Rating, and B1 (LGD 5, 70%) senior unsecured note
rating.

Note proceeds will be used to fund HEP's $93 million acquisition
of crude oil and refined products storage and asphalt loading
terminal from HEP's parent and general partner Holly Corporation
(Holly, Ba3 CFR, stable outlook) and to repay existing bank
revolver borrowings.  Bank borrowings were $206 million at year-
end 2009.  The acquisition is supported by a 15 year minimum
revenue service agreement with Holly Corporation.  Throughput fees
will increase annually with producer price index inflation, capped
at 3%, but would not decrease if the PPI decreases.

The ratings are supported by HEP's delivery of leverage reduction,
consistent record of issuing equity to keep leverage in line, and
HEP's durable and visible EBITDA.  During 2009, HEP acquired
approximately $200 million of assets, primarily from its sponsor
Holly, and issued over $185 million of equity bringing its
leverage as measured by Debt / EBITDA (adjusted for operating
leases) to 4.1x at December 31, 2009 from 5.9x at December 31,
2008, due to full-year earnings from previously acquired assets
and completed projects.  Pro-forma 2009 adjusted debt / EBITDA is
expected to be under 4.0x.  The ratings also take account the
long-term firm contracts with Holly and Alon USA Inc. (B2)
underpinning HEP's cash flow.  Pro-forma annual minimum contracted
revenues are over $160 million, partially mitigating HEP's
exposure to scheduled or unscheduled counterparty refinery
downtimes.

The ratings are restrained by HEP's smaller scale and
comparatively limited diversification relative to its Ba3 peers,
its reliance on Holly for nearly 70% of its revenue, and the fact
that HEP, as an MLP, is required to payout to unit holders all
available cash after operating expense, debt service, and
maintenance capital spending.  This leaves negligible cash flow
for debt reduction or expansion capex.  Additionally, key
contracts with Holly and Alon contain contract-out terms stating
that with 12 months notice, they could abrogate their minimum
revenue commitments under their shipper contracts should they
decided to shut-in or close their respective refineries.

The positive outlook had reflected expected seasonally and
cyclically weak fourth 2009 and first 2010 quarters, including
potential losses, and muted cyclical recovery this year.  However,
actual fourth quarter losses were significantly deeper than
expected and the momentum entering 2010 did not bode well for
first quarter 2010.  This places greater pressure on sector
conditions and Holly's results during the rest of 2010.  Because
better visibility on seasonal and cyclical conditions for the
important summer 2010 driving season is still one to two months
away, Moody's would wait until true cyclical firming actually
comes into view before reconsidering a positive outlook.

Previously unleveraged Holly added net debt of approximately
$294 million during the course of the year to acquire two
refineries in Tulsa, Oklahoma.  When normalized for cyclical
conditions, leverage remains compatible with the ratings.
However, the combination of the still unresolved timing and degree
of recovery, the added leverage, and the need to still demonstrate
how effectively Holly can integrate the prior Sunoco and Sinclair
Tulsa, Oklahoma refineries warrants a stable rather than positive
outlook now.  Holly's liquidity remains sound with approximately
$123 million of cash on the balance sheet at year-end 2009 and no
borrowings under its $370 million revolver.

The last rating action on HEP was on March 25, 2008, when Moody's
affirmed the company's ratings.  The last rating action on Holly
Corporation was October 21, 2009, when Moody's assigned a B1 (LGD
5, 70%) rating to Holly Corporation's $100 million add-on offering
of senior unsecured notes.

Holly Energy Partners, L.P., and Holly Corporation are
headquartered in Dallas, Texas.


HOVNANIAN ENTERPRISES: To Invest $40 Mil. to Newly Formed Company
-----------------------------------------------------------------
Hovnanian Enterprises Inc. said it is considering an investment of
approximately $40 million in a newly formed company.  This
investment would represent a non-controlling ownership interest in
Newco of approximately 10%.

Newco would identify, acquire and develop land parcels and
finished residential building lots located primarily in major U.S.
homebuilding markets for sale to homebuilders as residential
building lots under option and purchase agreements. Ara Hovnanian,
the Chairman of our Board of Directors and our Chief Executive
Officer, will become the non-executive Chairman of the Board of
Directors of Newco, while continuing in his positions for our
Company.

Newco would acquire land parcels located in major U.S.
homebuilding markets and enter into lot option contracts with us
and other homebuilders for the delivery of finished residential
building lots, which are lots that are fully developed, entitled
and permit-ready for residential home construction when the
homebuilders are ready to commence construction, or on a "just-in-
time" basis.

J. Larry Sorsby, Executive Vice President and Chief Financial
Officer said "We are contemplating entering into an exclusive
preferred sourcing arrangement with Newco that covers our current
geographic footprint. The agreement would provide for an
exclusivity period of three years during which the Company would
generally be required to present to Newco all investment
opportunities meeting specified criteria that are identified,
sourced, procured and/or acquired by us, or presented by a third
party to us, and located both within and outside our geographic
footprint.

"In addition, during the three-year exclusivity period, Newco
would generally be required to present to us all investment
opportunities meeting specified criteria that are identified,
sourced, procured and/or acquired by Newco and located within our
geographic footprint. Newco would not be obligated to present to
us any investment opportunities located outside our geographic
footprint, whether identified, sourced, procured and/or acquired
by Newco or presented to Newco by third parties, at any time
during the term of the agreement.

"We expect to offer a substantial number of land acquisition
opportunities to Newco during the three-year term of this
arrangement," said Mr. Sorsby.

Pursuant to the preferred sourcing agreement, the Company would
sell certain properties to Newco and enter into lot option
contracts with respect thereto at the time of its equity
investment. Lot option contracts under the preferred sourcing
agreement would include predetermined lot take down schedules and
prices that provide Newco an internal rate of return of 20% plus
an additional contingent payment of 25% of the amount by which the
actual direct margin, based on the actual home sale revenue and
direct costs, exceeds the Company's projected direct margin.

                  About Hovnanian Enterprises

Hovnanian Enterprises, Inc. (NYSE: HOV), founded in 1959 by Kevork
S. Hovnanian, is headquartered in Red Bank, New Jersey.  The
Company is one of the nation's largest homebuilders with
operations in Arizona, California, Delaware, Florida, Georgia,
Illinois, Kentucky, Maryland, Minnesota, New Jersey, New York,
North Carolina, Ohio, Pennsylvania, South Carolina, Texas,
Virginia and West Virginia.  The Company's homes are marketed and
sold under the trade names K. Hovnanian(R) Homes(R), Matzel &
Mumford, Brighton Homes, Parkwood Builders, Town & Country Homes,
Oster Homes, First Home Builders of Florida and CraftBuilt Homes.
As the developer of K. Hovnanian's(R) Four Seasons communities,
the Company is also one of the nation's largest builders of active
adult homes.

At October 31, 2009, the Company had $2.024 billion in total
assets against $2.340 billion in total liabilities.  At
October 31, 2009, the Company had accumulated deficit of
$826.007 million and stockholder's deficit of $349.598 million.

                         *     *     *

Hovnanian carries S&P's "CCC" corporate credit rating; Moody's
"Caa1" corporate family rating; and Fitch's "CCC" Issuer Default
Rating.


HUDSON'S FURNITURE: Updated Chapter 11 Case Summary
---------------------------------------------------
Debtor: Hudson's Furniture Showroom, Inc.
        3290 West State Road 46
        Sanford, FL 32771

Bankruptcy Case No.: 10-03322

Chapter 11 Petition Date: March 3, 2010

Court: United States Bankruptcy Court
       Middle District of Florida (Orlando)

Judge: Karen S. Jennemann

Debtor's Counsel: R Scott Shuker, Esq.
                  Latham Shuker Eden & Beaudine LLP
                  Post Office Box 3353
                  Orlando, FL 32802
                  Tel: (407) 481-5800
                  Fax: (407) 481-5801
                  Email: bankruptcynotice@lseblaw.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $10,000,001 to $50,000,000

The Company says it does not have unsecured creditors who are non
insiders when they filed their petition.

The petition was signed by Cecil F. Hudson III, member of the
Company.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                     Petition
    Debtor                              Case No.      Date
    ------                              --------      ----
Hud-One, LLC                            10-03543     3/05/10
  Assets: $1,000,000 to $10,000,000
  Debts: $500,000 to $1,000,000
Hud-Three, LLC                          10-03544     3/05/10
  Assets: $1,000,001 to $10,000,000
  Debts: $1,000,001 to $10,000,000
Hud-Six, LLC                            10-03545     3/05/10
Hud-Ten, LLC                            10-03546     3/05/10
Hud-Twenty-Two, LLC                     10-03547     3/05/10
Hud-Twenty Four 445 S. Yonge, LLC       10-03548     3/05/10
Hud-Twenty-Seven Mason, LLC             10-03549     3/05/10
A&J Rentals, LLC                        09-15485    10/13/09
Hud Twenty-Five Ocoee, LLC              09-15482    10/13/09
Hud Twenty-Three Tampa, LLC             09-15481    10/13/09
Hud-Five, LLC                           09-15479    10/13/09

Hudson Furniture's List of 20 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Action Industries          Trade Debt             $144,890

American Drew                                     $30,511
                                                  ($0 secured)

Best Chair, Inc.           Trade Debt             $83,498

Bradington Young           Trade Debt             $23,335

Broyhill Furniture                                $4,364,307
PO Box 536753
Atlanta, GA 30353

Broyhill Furniture Ind.    Trade Debt             $361,217
PO Box 536753
Atlanta, GA 30353

Centro Watt Operating                             $95,932
Partnership Two

CP Venture Two, LLC        Trade Debt             $125,933

Developers Diversified                            $341,293
Dept 108119-40416-
00020896
PO Box 534414
Atlanta, GA 30353

FFVA Mutual Insurance Co.  Trade Debt             $44,124

Glenn Byrne                Furniture Deposit      $28,040

Hooker Corp                Trade Debt             $36,288

Idearc Media Corp.         Trade Debt             $31,603

Jennifer Madill            Furniture Deposit      $21,229

Leaf Funding, Inc.                                $36,748

Lexington Brands           Trade Debt             $32,853

Michel Wachter             Furniture Deposit      $28,113

Ryder                      Trade Debt             $159,621

Summit Funding Group                              $25,108

Tropitone                  Trade Debt             $25,006




INTERSTATE HOTELS: Dimensional Fund Holds 3.9% of Common Stock
--------------------------------------------------------------
Dimensional Fund Advisors LP disclosed that as of December 31,
2009, it may be deemed to hold 1,253,641 shares or roughly 3.9% of
the common stock of Interstate Hotels & Resorts, Inc.

Arlington, Virginia-based Interstate Hotels & Resorts, Inc. (NYSE:
IHR) and its affiliates -- http://www.ihrco.com/-- manages or has
ownership interests in a total of 232 hospitality properties with
more than 46,000 rooms in 37 states, the District of Columbia,
Russia, India, Mexico, Belgium, Canada, Ireland and England.  The
company has ownership interests in 56 of those properties,
including six wholly owned assets.  Interstate Hotels & Resorts
also has contracts to manage 13 to be built hospitality properties
with approximately 3,000 rooms which includes the company's entry
into new markets such as Costa Rica.

At September 30, 2009, the Company's consolidated balance sheets
showed $456.2 million in total assets, $311.8 million in total
liabilities, and $144.4 million in shareholders' equity.  The
Company reported current assets of $64 million and current
liabilities of $85.4 million at September 30, 2009, resulting in a
$21.4 million working capital deficit.

                       Going Concern Doubt

The Company states that the report from its independent registered
public accounting firm, KPMG LLP, included in the Company's Form
10-K for the year ended December 31, 2008, included an explanatory
paragraph expressing substantial doubt about the Company's
ability to continue as a going concern due to potential credit
facility covenant violations.

In July 2009, the Company successfully amended the terms of the
its Credit Facility which, among other things, eliminated the NYSE
listing requirement, eliminated the total leverage ratio debt
covenant and extended the maturity of its debt from March 2010 to
March 2012.

                           *     *     *

Interstate Hotels carries Moody's "Caa1" corporate family rating.


INTERSTATE HOTELS: Keeley Asset Holds De Minimis Stake
------------------------------------------------------
Keeley Asset Management Corp. and Keeley Small Cap Value Fund, a
series of Keeley Funds, Inc., disclosed that as of December 31,
2009, they may be deemed to hold 4,000 shares or roughly 0.01% of
the common stock of Interstate Hotels & Resorts, Inc.

Arlington, Virginia-based Interstate Hotels & Resorts, Inc. (NYSE:
IHR) and its affiliates -- http://www.ihrco.com/-- manages or has
ownership interests in a total of 232 hospitality properties with
more than 46,000 rooms in 37 states, the District of Columbia,
Russia, India, Mexico, Belgium, Canada, Ireland and England.  The
company has ownership interests in 56 of those properties,
including six wholly owned assets.  Interstate Hotels & Resorts
also has contracts to manage 13 to be built hospitality properties
with approximately 3,000 rooms which includes the company's entry
into new markets such as Costa Rica.

At September 30, 2009, the Company's consolidated balance sheets
showed $456.2 million in total assets, $311.8 million in total
liabilities, and $144.4 million in shareholders' equity.  The
Company reported current assets of $64 million and current
liabilities of $85.4 million at September 30, 2009, resulting in a
$21.4 million working capital deficit.

                       Going Concern Doubt

The Company states that the report from its independent registered
public accounting firm, KPMG LLP, included in the Company's Form
10-K for the year ended December 31, 2008, included an explanatory
paragraph expressing substantial doubt about the Company's
ability to continue as a going concern due to potential credit
facility covenant violations.

In July 2009, the Company successfully amended the terms of the
its Credit Facility which, among other things, eliminated the NYSE
listing requirement, eliminated the total leverage ratio debt
covenant and extended the maturity of its debt from March 2010 to
March 2012.

                           *     *     *

Interstate Hotels carries Moody's "Caa1" corporate family rating.


INTERSTATE HOTELS: Renaissance Technologies No Longer Hold Shares
-----------------------------------------------------------------
Renaissance Technologies LLC and James H. Simons disclosed that as
of December 31, 2009, they no longer held shares of Interstate
Hotels & Resorts, Inc. common stock.

Arlington, Virginia-based Interstate Hotels & Resorts, Inc. (NYSE:
IHR) and its affiliates -- http://www.ihrco.com/-- manages or has
ownership interests in a total of 232 hospitality properties with
more than 46,000 rooms in 37 states, the District of Columbia,
Russia, India, Mexico, Belgium, Canada, Ireland and England.  The
company has ownership interests in 56 of those properties,
including six wholly owned assets.  Interstate Hotels & Resorts
also has contracts to manage 13 to be built hospitality properties
with approximately 3,000 rooms which includes the company's entry
into new markets such as Costa Rica.

At September 30, 2009, the Company's consolidated balance sheets
showed $456.2 million in total assets, $311.8 million in total
liabilities, and $144.4 million in shareholders' equity.  The
Company reported current assets of $64 million and current
liabilities of $85.4 million at September 30, 2009, resulting in a
$21.4 million working capital deficit.

                       Going Concern Doubt

The Company states that the report from its independent registered
public accounting firm, KPMG LLP, included in the Company's Form
10-K for the year ended December 31, 2008, included an explanatory
paragraph expressing substantial doubt about the Company's
ability to continue as a going concern due to potential credit
facility covenant violations.

In July 2009, the Company successfully amended the terms of the
its Credit Facility which, among other things, eliminated the NYSE
listing requirement, eliminated the total leverage ratio debt
covenant and extended the maturity of its debt from March 2010 to
March 2012.

                           *     *     *

Interstate Hotels carries Moody's "Caa1" corporate family rating.


INTERSTATE HOTELS: Shareholders to Vote on Merger This Thursday
---------------------------------------------------------------
Interstate Hotels & Resorts, Inc., will hold a special meeting of
stockholders on Thursday, March 11, 2010, at 10 a.m. Eastern Time,
to seek approval of its proposed merger with Hotel Acquisition
Company, LLC, a 50/50 joint venture between subsidiaries of Thayer
Hotel Investors V-A LP, a private equity fund sponsored by Thayer
Lodging Group, and Shanghai Jin Jiang International Hotels (Group)
Company Limited.  The meeting will be held at the Hilton
Arlington, 950 North Stafford Street, in Arlington, Virginia.

On February 25, 2010, Interstate Hotels said RiskMetrics Group,
Inc. (formerly Institutional Shareholder Services), Glass Lewis &
Co. and PROXY Governance, Inc., three leading independent proxy
advisory firms, have recommend that stockholders vote "FOR" the
company's proposed merger.

Under the terms of the merger agreement, HAC will acquire all of
the outstanding common stock of Interstate for $2.25 per share in
an all-cash transaction, which represents a 77.2% premium over the
closing price of Interstate's common stock on December 17, 2009,
the last trading day prior to the execution and announcement of
the merger agreement.

Interstate urges stockholders to follow the recommendations of
RiskMetrics, Glass Lewis and PROXY Governance by signing, dating
and returning the company's proxy card.  Interstate stockholders
who have questions or require assistance voting their shares
should contact the company's proxy solicitor, MacKenzie Partners,
Inc., toll-free at (800) 322-2885 or collect at (212) 929-5500.

A full-text copy of the proxy statement filed on February 5, 2010,
is available at no charge at http://ResearchArchives.com/t/s?573c

                 About Interstate Hotels & Resorts

Arlington, Virginia-based Interstate Hotels & Resorts, Inc. (NYSE:
IHR) and its affiliates -- http://www.ihrco.com/-- manages or has
ownership interests in a total of 232 hospitality properties with
more than 46,000 rooms in 37 states, the District of Columbia,
Russia, India, Mexico, Belgium, Canada, Ireland and England.  The
company has ownership interests in 56 of those properties,
including six wholly owned assets.  Interstate Hotels & Resorts
also has contracts to manage 13 to be built hospitality properties
with approximately 3,000 rooms which includes the company's entry
into new markets such as Costa Rica.

At September 30, 2009, the Company's consolidated balance sheets
showed $456.2 million in total assets, $311.8 million in total
liabilities, and $144.4 million in shareholders' equity.  The
Company reported current assets of $64 million and current
liabilities of $85.4 million at September 30, 2009, resulting in a
$21.4 million working capital deficit.

                       Going Concern Doubt

The Company states that the report from its independent registered
public accounting firm, KPMG LLP, included in the Company's Form
10-K for the year ended December 31, 2008, included an explanatory
paragraph expressing substantial doubt about the Company's
ability to continue as a going concern due to potential credit
facility covenant violations.

In July 2009, the Company successfully amended the terms of the
its Credit Facility which, among other things, eliminated the NYSE
listing requirement, eliminated the total leverage ratio debt
covenant and extended the maturity of its debt from March 2010 to
March 2012.

                           *     *     *

Interstate Hotels carries Moody's "Caa1" corporate family rating.


IPCS INC: Moody's Upgrades Ratings on Senior Notes to 'Ba2'
-----------------------------------------------------------
Moody's Investors Service has upgraded the ratings for iPCS,
Inc.'s senior 1st lien secured notes to Ba2, and its senior 2nd
lien secured notes to Ba3, following Sprint Nextel Corporation's
decision to guarantee these debt obligations.  The action closes
the review initiated on October 19, 2009, in conjunction with
Sprint Nextel's announcement to acquire iPCS and assume its debt.
As part of the ratings action, Moody's changed the outlook for
iPCS's ratings to negative from under review for upgrade,
consistent with the negative outlook for Sprint Nextel's ratings.
The ratings for Sprint Nextel Corporation and its outstanding debt
did not change.

The upgrade mainly reflects the credit enhancement resulting from
a senior, unconditional and irrevocable guarantee by the higher-
rated Sprint Nextel (Corporate Family Rating Ba2 with a negative
outlook) to iPCS's note holders.  Sprint Nextel closed the
acquisition of iPCS on December 4, 2009.  The Ba2 rating of the
senior 1st lien secured notes reflects the pledge of assets of
iPCS's operating companies and the benefit of the guarantee by
Sprint Nextel.  The Ba3 rating of iPCS's senior 2nd lien secured
notes primarily reflects the guarantee from Sprint Nextel.  While
the notes are secured by a second priority claim on the assets of
iPCS's operating subsidiaries, Moody's does not expect meaningful
residual value to be available to the 2nd lien note holders after
1st lien claims are satisfied.

Moody's has taken these rating actions:

Issuer: iPCS, Inc.

  -- US$300M First Lien Senior Secured Floating Rate Notes due
     2013, Upgraded to Ba2, LGD3 -- 46%, from B1, Rating Under
     Review for Upgrade

  -- US$175M (original issue amount) Second Lien Senior Secured
     Floating Rate Notes due 2014, Upgraded to Ba3, LGD5 -- 75%,
     from Caa1, Rating Under Review for Upgrade.

  -- Outlook: Changed to negative, from under review for upgrade.

Moody's last rating action on iPCS was on December 15, 2009, when
the rating agency withdrew iPCS's corporate family rating
following its acquisition by Sprint Nextel.

iPCS was acquired by Sprint Nextel Corporation, which is one of
the largest telecommunications companies in the United States and
is based in Overland Park, Kansas.


JAMES CLYDE HARVELL: Case Summary & 12 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: James Clyde Harvell, Jr.
        1107 Bridges Street
        Morehead City, NC 28557

Bankruptcy Case No.: 10-01757

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Eastern District of North Carolina (Wilson)

Judge: Randy D. Doub

Debtor's Counsel: George M. Oliver, Esq.
                  Oliver & Friesen, PLLC
                  PO Box 1548
                  New Bern, NC 28563
                  Tel: (252) 633-1930
                  Fax: (252) 633-1950
                  Email: efile@oliverandfriesen.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $2,380,967
and total debts of $3,412,656.

A full-text copy of the Debtor's petition, including a list of its
12 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/nceb10-01757.pdf

The petition was signed by James Clyde Harvell, Jr.


JAMES MARTIN: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: James W. Martin
          aka Jimmy Martin
        POB 4665
        West Palm Beach, FL 33402

Bankruptcy Case No.: 10-15462

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Erik P. Kimball

Debtor's Counsel: Alvin S. Goldstein, Esq.
                  2255 Glades Rd #337W
                  Boca Raton, FL 33431
                  Tel: (561) 395-0500
                  Email: mmitchell@furrcohen.com

                  Robert C. Furr, Esq.
                  2255 Glades Rd #337W
                  Boca Raton, FL 33431
                  Tel: (561) 395-0500
                  Fax: (561) 338-7532
                  Email: bnasralla@furrcohen.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $50,000,001 to $100,000,000

According to the schedules, the Company has assets of $2,163,982
and total debts of $71,028,508.

A full-text copy of Mr. Martin's petition, including a list of his
20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/flsb10-15462.pdf

The petition was signed by Mr. Martin.


JAYEL CORPORATION: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Jayel Corporation
        104 S. Walton Blvd.
        Bentonville, AR 72712

Bankruptcy Case No.: 10-71120

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Western District of Arkansas (Fayetteville)

Debtor's Counsel: Donald A. Brady, Jr., Esq.
                  Blair & Brady Attorneys At Law
                  109 N. 34th Street
                  P.O. Box 1715
                  Rogers, AR 72756
                  Tel: (479) 631-0100
                  Fax: (479) 631-8052
                  Email: dblaw0887@hotmail.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $14,532,395,
and total debts of $9,317,149.

The petition was signed by Jim Lemmon, the company's president.

Debtor's List of 3 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
AMI                                               $4,000

Benton County Property                            $30,000
Taxes

EverHome Mortgage                                 $19,577
                                                  ($0 secured)


JEFFERSON COUNTY: Ex-Birmingham Mayor Sentenced on Bond Deals
-------------------------------------------------------------
Reuters' Tom Brown reports that Larry Langford, former mayor of
Birmingham, Alabama, was sentenced on Friday for his role in
corrupt bond deals that threaten to mushroom into a massive
bankruptcy case.  Reuters says Mr. Langford, 63, was sentenced to
15 years in prison.  The report says prosecutors had sought a term
of at least 24 years after Mr. Langford's conviction on an array
of fraud and bribery charges last year.  Mr. Langford was also
sentenced to three years probation and ordered to pay nearly
$367,000 in financial penalties.

Reuters says the case highlighted corrupt dealings that played a
role in the accumulation of Jefferson County's multibillion-dollar
sewer debt, which could lead to the biggest municipal bankruptcy
in U.S. history.  Mr. Langford, Reuters notes, presided over the
Jefferson County Commission during the height of a series of
variable rate auction and bond swaps that led to the run-up of the
$3.2 billion debt.  He was removed from office after his
conviction in October.  He was convicted of steering friends into
the bond deals in exchange for bribes.

Mr. Langford told reporters on Friday he planned to appeal.

                        About Jefferson County

Jefferson County has its seat in Birmingham, Alabama.  It has a
population of 660,000.  It ended its 2006 fiscal year with a
$42.6 million general fund balance, according to Standard &
Poor's.  The Birmingham firm of Bradley Arant Rose & White,
represents Jefferson County.  Porter, White & Co. in Birmingham is
the county's financial adviser.  A bankruptcy by Jefferson County
stands to be the largest municipal bankruptcy in U.S. history.  It
could beat the record of $1.7 billion, set by Orange County,
California in 1994.

As reported by the TCR on July 24, 2009, Moody's Investors Service
has affirmed the Caa3 rating and negative outlook on Jefferson
County's (Alabama) outstanding $3.2 billion sewer revenue bonds.
Moody's underlying Caa3 rating reflects the likelihood of eventual
repayment by the county of principal, irrespective of outside
enhancement through bond insurance.  It does not reflect the
claims paying ability of Syncora, which is rated Ca and failed to
fulfill its obligation to make a July 1 Bank Bond principal
payment.


JETBLUE AIRWAYS: Fitch Affirms 'B-' Issuer Default Rating
---------------------------------------------------------
Fitch Ratings has affirmed the Issuer Default Rating for JetBlue
Airways Corp. at 'B-' and the senior unsecured rating, which
applies to approximately $470 million of convertible notes, at
'CC' with a Recovery Rating of 'RR6'.  The airline's Rating
Outlook has been revised to Stable from Negative.

The affirmation of JBLU's ratings and the Outlook revision reflect
Fitch's view that the airline is in a good position to deliver
improved operating results and a second consecutive year of
positive free cash flow as the economy recovers in 2010.  Despite
the severe impact of the recession on air travel demand, yields
and passenger unit revenue in 2009, JBLU remained profitable in
every quarter and ended the year with an improved unrestricted
liquidity position.  As growing signs of a demand recovery have
begun to appear since last fall, JBLU and all of the major U.S.
airlines are well positioned to boost operating margins and cash
flow generation this year -- assuming relative stability in jet
fuel prices.

The carrier's plan to grow available seat mile capacity by 5 to 7
percent this year may constrain revenue per ASM growth relative to
other U.S. carriers.  However, Fitch expects JBLU to report
material gains in RASM in 2010 as the economic recovery drives a
significant pick-up in traffic while slow industry capacity growth
and reduced fare sale activity boosts yields.  Given its light
exposure to high-fare international business traffic, JBLU
actually delivered better unit revenue results than the legacy
carriers during 2009.  By the same token, it may lag somewhat this
year as fare hikes and a pick-up in business demand should help
the legacy carriers report better year-over-year RASM comparisons.

In light of this, Fitch believes that full-year 2010 RASM growth
in the mid-single digit percentage range is achievable.  Based on
this relatively conservative revenue scenario, and assuming full-
year average jet fuel prices in the $2.20 to $2.30 per gallon
range, Fitch estimates that JBLU could generate FCF in the range
of $25 to $50 million in 2010.  This forecast assumes that JBLU is
successful in managing full year capital expenditures to less than
$400 million (about $210 million of that total driven by the
delivery of 4 Embraer E190 jets and other aircraft-related
spending).

Following the extreme volatility in the energy markets during
2008, JBLU withdrew from active fuel hedging in the first half of
last year.  Since second quarter-2009 (2Q'09), the carrier has
resumed an active hedging program, employing jet fuel swaps and
heating oil collars for near-term protection and crude oil call
options for longer-term coverage.  As of late January, JBLU had
hedged approximately 45% of its projected 2010 fuel consumption
and 3% of 2011 consumption with crude oil call strike prices above
$84 per barrel and jet fuel swaps averaging in the range of $1.97
to $2.16 per gallon.  There is also a limited amount of heating
oil collar protection (5% of H110 consumption).  Fuel still ranks
as the airline's largest expense category (31% of operating costs
in 2009).  As of late January, the company assumed a full year
average jet fuel price of $2.26 per gallon (up from $2.08 in
2009).

Non-fuel unit operating cost pressure remains a concern, as unit
labor and maintenance costs have been rising at a high rate in
recent quarters.  Still, management expects non-fuel costs per ASM
to rise in the range of 3 to 5 percent this year, down from 6% in
4Q'09.  Additional cost pressure is being felt in maintenance as a
result of fleet aging and increased heavy maintenance check
volumes for the E190 fleet.

One-time costs related to the roll-out of JBLU's new customer
service IT platform (Sabre), in addition to the impact of higher
pilot wage levels, are contributing to higher unit labor costs
this year.

Gradual progress toward balance sheet repair will likely continue
this year as lower debt balances, modest borrowing requirements
and better operating earnings push leverage down.  While the
funding of an expected redemption of $156 million in convertible
bonds on March 15, 2010 had previously represented a significant
liquidity risk factor, it now appears that JBLU will have ample
cash on the balance sheet to fund maturities this year while still
finishing 2010 with more than $900 million in unrestricted
liquidity.  Maturities in 2011 and 2012 are manageable, and
management remains focused on positive FCF generation as its
principal financial objective.

Efforts to restore positive FCF have been helped by agreements
with both Airbus and Embraer to defer deliveries of new aircraft.
Most recently, a February amendment to JBLU's Airbus Purchase
Agreement led to the deferral of six Airbus A320 deliveries from
2011 and 2012 to 2015.  These fleet plan changes, along with
similar E190 deferrals, will limit increases in aircraft capital
spending if attractive fleet growth opportunities don't exist over
the next few years.

Lease-adjusted leverage is high, and will remain so for the
foreseeable future according to Fitch's base case projections.
However, a stronger FCF outlook and improved liquidity has
mitigated the risk of near-term balance sheet stress and supports
the case for a revision of the Outlook to Stable.  Looking beyond
2010, when scheduled maturities total $384 million, debt principal
payments are $175 million in 2011 and $176 million in 2012.
Barring pre-payment of other obligations or a move away from
financing of new aircraft deliveries, lease-adjusted debt levels
will likely remain stable or fall slowly over the next two to
three years.

The 'RR6' Recovery Rating for JBLU's convertible debentures
reflects expected recoveries of less than 10% for holders in a
default scenario.  The carrier's debt structure is almost entirely
secured, and virtually no unencumbered assets are available to
support future secured borrowings.

A change in the Rating Outlook to Positive could occur if a strong
and sustained macroeconomic recovery supports significant
improvements in RASM and operating margins during 2010, putting
JBLU in a better position to boost FCF generation moving into
2011.  A Negative Outlook or rating change could result if a
significant demand or fuel price shock undermines the carrier's
margins and drives unrestricted liquidity below $700 million in
late 2010 or 2011.


JOAN MILLS: Case Summary & 7 Largest Unsecured Creditors
--------------------------------------------------------
Joint Debtors: Joan A. Mills
               Daniel B. Mills
               11 Cromwell Harbor Road
               Bar Harbor, ME 04609

Bankruptcy Case No.: 10-10283

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       Maine (Bangor)

Judge: Alan Jaroslovsky

Debtors' Counsel: James F. Molleur, Esq.
                  Molleur Law Office
                  419 Alfred Street
                  Biddeford, ME 04005
                  Tel: (207) 283-3777
                  Fax: (207) 283-4558
                  Email: jim@molleurlaw.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $2,635,490
and total debts of $4,527,523.

A full-text copy of the Debtors' petition, including a list of
their 7 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/meb10-10283.pdf

The petition was signed by the Joint Debtors.

Debtor-affiliates that filed separate Chapter 11 petition:

                                                     Petition
    Debtor                              Case No.      Date
    ------                              --------      ----
Ledgelawn Inn & Spa, LLC                10-10230     2/24/10


JOHN WILLIAM DOVGAN: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: John William Dovgan
        23298 N 79th Way
        Scottsdale, AZ 85255-4122

Bankruptcy Case No.: 10-05866

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Debtor's Counsel: Stanford E. Lerch, Esq.
                  Lerch & Deprima PLC
                  4000 N Scottsdale Rd., Ste 107
                  Scottsdale, AZ 85251
                  Tel: (480) 212-0700
                  Fax: (480) 212-0705
                  Email: slerch@ldlawaz.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Mr. Dovgan.


KIM KREUNEN: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Kim H. Kreunen
          dba Kreunen Real Estates, LLC
          dba Kreunen Inc.
          dba Kreunen Development
          dba Kreunen Construction, Inc.
          dba Stewart and Kreunen, LLC
          dba Kreunen Development Group, LLC
          dba Lyon Plantation, LLC
          dba O.B. Warehousing Distribution Inc.
        3675 College Road
        Southaven, MS 38672

Bankruptcy Case No.: 10-11108

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Northern District of Mississippi (Aberdeen)

Judge: David W. Houston III

Debtor's Counsel: Craig M. Geno, Esq.
                  Harris Jernigan & Geno, PLLC
                  P.O. Box 3380
                  Ridgeland, MS 39158-3380
                  Tel: (601) 427-0048
                  Email: cmgeno@harrisgeno.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $10,000,001 to $50,000,000

The petition was signed by Kim H. Kreunen.

Debtor's List of 3 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Bank of America                                   $12,061

Chase                                             $6,546

Beau Rivage                                       $7,500


KING RIDGE LLC: Case Summary & 5 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: King Ridge, LLC
        P.O. Box 3393
        Jackson, WY 83001

Bankruptcy Case No.: 10-20206

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       District of Wyoming (Cheyenne)

Judge: Peter J. McNiff

Debtor's Counsel: Mark E. Macy, Esq.
                  Macy Law Office, P.C.
                  217 West 18th Street
                  Cheyenne, WY 82001
                  Tel: (307) 632-4100
                  Email: macylaw@wyoming.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $4,200,761
and total debts of $3,568,290.

A full-text copy of the Debtor's petition, including a list of its
5 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/wyb10-20206.pdf

The petition was signed by Scott Shepherd, president of manager of
the Company.


KINSLEY FOREST: Files for Bankruptcy to Restructure Partnership
---------------------------------------------------------------
Rob Roberts, staff writer at Business Journal of Kansas City,
reports that Kinsley Forest Estates LLC filed for Chapter 11
protection in the U.S. Bankruptcy Court in Kansas City.

The Company listed listed assets of $16.25 million against
liabilities of $7.85 million.

The Company owes $7.66 million to Hillcrest Bank of Overland Park.
According to the report, the Company said it filed for bankruptcy
to afford an opportunity to restructure a partnership and debt not
because a foreclosure action by the bank.

Kinsley Forest Estates LLC -- http://kinsleyforest.com/--
operates a mixed-use development company in Northland. John Snyder
at Sonnenschein Nath & Rosenthal LLP represents the Company in its
restructuring effort.


KIRKLAND HUTCHESON: U.S. Trustee Unable to Appoint Creditors Panel
------------------------------------------------------------------
The Office of the U.S. Trustee for Region 13 notified the U.S.
Bankruptcy Court for the Western District of Missouri that it was
unable to appoint an official committee of unsecured creditors in
the Chapter 11 case of Kirkland Hutcheson, LLC.

The U.S. Trustee related that there were an insufficient number of
unsecured creditors have expressed interest in serving in the
committee.

The U.S. Trustee reserves the right to appoint a committee if
interest develop among the creditors.

Branson, Missouri-based Kirkland Hutcheson, LLC -- dba Castle Rock
Resort and fka Atrium Inn -- operates a hotel facility.  The
Company filed for Chapter 11 bankruptcy protection on November 24,
2009 (Bankr. W.D. Mo. Case No. 09-62695).  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


KIRKLAND HUTCHESON: Can Obtain Unsecured Loan from Interest Holder
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Missouri
authorized Kirkland Hutcheson, LLC to incur general unsecured
credit from Jeffrey D. Hutcheson for additional operating capital.

The Debtor related that Mr. Hutcheson has a 25% member interest in
the Debtor and a guarantor on the Bancorp South indebtedness.

The credit terms include: (i) a $250,000 future advance line of
credit promissory note; (ii) a compound interest rate of 5% with
accrued interest; (iii) payable in 1 year from and after the date
of execution of the promissory note; and (iv) all principal and
any additional accrued interest will be paid 2 years from and
after the date of execution of the promissory note with the
obligation to be unsecured but allowable as an administrative
expense.

Branson, Missouri-based Kirkland Hutcheson, LLC -- dba Castle Rock
Resort and fka Atrium Inn -- operates a hotel facility.  The
Company filed for Chapter 11 bankruptcy protection on November 24,
2009 (Bankr. W.D. Mo. Case No. 09-62695).  The Company listed
$10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


KWITCHURBELIAKIN, LLC: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Kwitchurbeliakin, LLC
          dba Thunderbird Lanes
        355 Canterbury Drive
        LaPorte, IN 46350

Bankruptcy Case No.: 10-30824

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       Northern District of Indiana (South Bend Division)

Judge: Harry C. Dees, Jr.

Debtor's Counsel: Rosalind G. Parr(JLS), Esq.
                  105 W. 86th Ave.
                  Merrillville, IN 46410
                  Tel: (219) 756-3316
                  Fax: (219) 756-2613
                  Email: nwibankruptcy@yahoo.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Company says it does not have unsecured creditors who are non
insiders when they filed their petition.

The petition was signed by Todd Apfel, vice president of the
Company.


L. C. TRUCKING: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: L. C. Trucking, Inc.
        2775 Wards Road North
        Altavista, VA 24517

Bankruptcy Case No.: 10-60619

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       Western District of Virginia (Lynchburg)

Judge: William E. Anderson

Debtor's Counsel: Andrew S. Goldstein, Esq.
                  Magee Goldstein Lasky & Sayers, P.C.
                  PO Box 404
                  Roanoke, VA 24003
                  Tel: (540) 343-9800
                  Email: agoldstein@mglspc.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A full-text copy of the Debtor's petition, including a list of its
20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/vawb10-60619.pdf

The petition was signed by Larry M. Catron, president/secretary of
the Company.


LANDAMERICA FIN'L: Wants Docs. Showing Broker-Dealers Miscues
-------------------------------------------------------------
Pursuant to Rule 45 of the Federal Rules of Civil Procedure,
LandAmerica Financial Group Inc. and its units ask Judge
Heunnekens to compel these entities to comply with the subpoenas
served on them pursuant to a December 4, 2009 Court Order
approving the issuance of the subpoena pursuant to Rule 2004 of
the Federal Rules of Bankruptcy Procedures:

  (a) Citigroup Global Markets, Inc., and its affiliates,
      Citigroup, Inc., and Smith Barney, now part of Morgan
      Stanley Smith Barney LLC, whose subpoena was served on
      December 21, 2009.

  (b) Financial Industry Regulatory Authority, Inc., whose
      subpoena was served on December 18, 2009.

  (c) SunTrust Banks, Inc., SunTrust Robinson Humphrey, Inc.,
      and SunTrust Investment Services, whose subpoena was
      served on December 21, 2009.

Lynn L. Tavenner, Esq., at Jenner & Block LLP, in Washington,
D.C., relates that Citi acknowledged receipt of the Subpoena, but
in a letter dated January 12, 2009, Citi set forth a number of
general objections, and offered to produce some, but far from
all, of the documents that the Debtors sought under the Subpoena.

The Debtors, through their special counsel, Jenner & Block LLP,
attempted to negotiate with Citi to resolve outstanding issues.
However, it is evident that the parties cannot reach an
acceptable compromise, Ms. Tavenner says.

Ms. Tavenner notes that FINRA, the Securities and Exchange
Commission and various state regulators opened investigations
into the auction rate securities broker-dealers and underwriters
in the wake of the ARS market collapse.  Under the
investigations, the SEC concluded that the "broker-dealer firms
that underwrote, marketed and sold auction rate securities misled
their customers" and "failed to disclose the increasing risks
associated with ARS, including [the firms'] reduced ability to
support the auctions."  Citi and RBC Capital Markets Corporation
consented to judgments against them, resulting in settlements
with the SEC and state regulators.

Ms. Tavenner informs the Court that Citi refused to produce
documents related to ARS investigation, except a subset of the
documents related to one of two SEC investigations.

Moreover, she notes, Citi failed to explain why it is refusing to
produce all but its selected subset of the regulatory materials.
Citi only stated that in its view, those "core" materials are
sufficient for the Debtors to evaluate whether they have viable
claims.

Similarly, Citi has chosen not to produce documents it provided
to state regulators because it "assumes" they are duplicative of
documents provided to the SEC, Ms. Tavenner adds.  "In other
words, Citi claims the right to withhold clearly responsive and
relevant material on the basis that Citi has unilaterally
determined other material it is producing is sufficient.  Citi
has no right even if it had objected in a timely manner, which it
did not," Ms. Tavenner argues.

Ms. Tavenner asserts that Citi's objection is particularly
unwarranted because the requests for documents that have been
collected and provided to the SEC, FINRA, and state regulators
involves minimal burden on Citi, and is well within the extremely
broad reach of Bankruptcy Rule 2004.

The Debtors also note that under the December 4 Court Order, they
also obtained permission from the Court to obtain from FINRA
documents obtained in the course of FINRA's investigations of
Auction Rate Securities and transcripts of witness statements.
FINRA, however, has declined to provide any documents, the
Debtors reveal.

Instead, FINRA sent the Debtors a letter, asserting that all
responsive materials in its possession are protected by a law
enforcement/investigatory file privilege, Ms. Tavenner relates.
In particular, FINRA asserted that disclosure of any materials
would harm the "integrity of its open and ongoing investigation."

Ms. Tavenner further contends, on behalf of the Debtors, that
FINRA's response is deficient because FINRA has not properly
invoked the law enforcement privilege through its conclusory
objection.  She maintains that the Debtors' need for the
important materials they seek outweighs FINRA's virtually non-
existent interest in protecting those materials.

In a related development, even as the Court expressly approved a
subpoena to be served on SunTrust for documents it turned over to
certain regulators, SunTrust has reiterated its prior objection
to providing those documents in that they fall into either of
these two categories -- (1) documents regarding SunTrust's
customers other than the Debtors, and (2) documents that SunTrust
provided pursuant to regulators' requests for all of the
electronic communications of particular SunTrust employees.  Ms.
Tavenner asserts that the Court has rejected these objections and
SunTrust should be ordered to comply immediately with the
subpoena request.

The Debtors asked the Court to hear their requests for March 2,
2010.  The Court, however, continued the hearings for March 19.

                    About LandAmerica Financial

LandAmerica Financial Group, Inc., provides real estate
transaction services with offices nationwide and a vast network of
active agents.  LandAmerica and its affiliates operate through
approximately 700 offices and a network of more than 10,000 active
agents throughout the world, including Mexico, Canada, the
Caribbean, Latin America, Europe, and Asia.

LandAmerica Financial Group and its affiliate LandAmerica 1031
Exchange Services, Inc. filed for Chapter 11 protection Nov. 26,
2008 (Bankr. E.D. Va. Lead Case No. 08-35994).  Attorneys at
Willkie Farr & Gallagher LLP and McGuireWoods LLP serve as co-
counsel.  Zolfo Cooper is the restructuring advisor.  Epiq
Bankruptcy Solutions serves as claims and notice agent.

Attorneys at Akin Gump Strauss Hauer & Feld LLP and Tavenner &
Beran, PLC, serve as counsel to the Creditors Committee of 1031
Exchange.  Bingham McCutchen LLP and LeClair Ryan serve as counsel
to the Creditors Committee of LFG.

In its bankruptcy petition, LFG listed total assets of
$3,325,100,000, and total debts of $2,839,800,000 as of Sept. 30,
2008.

On March 6, 2009, affiliate LandAmerica Assessment Corporation,
aka National Assessment Corporation, filed its own petition for
Chapter 11 relief.  Affiliate LandAmerica Title Company filed for
for Chapter 11 relief on March 27, 2009.   LandAmerica Credit
Services, Inc., filed for Chapter 11 in July 2009.

Bankruptcy Creditors' Service, Inc., publishes LandAmerica
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by LandAmerica Financial and its affiliate LandAmerica
1031 Exchange Services, Inc. (http://bankrupt.com/newsstand/or
215/945-7000)


LAS VEGAS TV: Files Schedules of Assets & Liabilities
-----------------------------------------------------
Las Vegas Tv Partners, LLC, filed with the U.S. Bankruptcy Court
for the District of Nevada its schedules of assets and
liabilities, disclosing:

  Name of Schedule                   Assets       Liabilities
  ----------------                   ------       -----------
A. Real Property                         $0
B. Personal Property             $2,187,378
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                  $10,081,382
E. Creditors Holding
   Unsecured Priority
   Claims                                             $158,686
F. Creditors Holding
   Unsecured Non-priority
   Claims                                           $8,130,973
                              -------------       ------------
      TOTAL                      $2,187,378        $18,371,041

Las Vegas, Nevada-based Las Vegas Tv Partners, LLC, filed for
Chapter 11 bankruptcy protection on February 26, 2010 (Bankr. D.
Nev. Case No. 10-13140).  Stephen R. Harris, Esq., at Belding,
Harris & Petroni, Ltd, assists the Company in its restructuring
effort.


LAS VEGAS TV: Section 341(a) Meeting Scheduled for April 1
----------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of creditors
in Las Vegas Tv Partners, LLC's Chapter 11 case on April 1, 2010,
at 1:00 p.m.  The meeting will be held at 300 Las Vegas Boulevard,
South, Room 1500, Las Vegas, NV 89101.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Las Vegas, Nevada-based Las Vegas Tv Partners, LLC, filed for
Chapter 11 bankruptcy protection on February 26, 2010 (Bankr. D.
Nev. Case No. 10-13140).  Stephen R. Harris, Esq., at Belding,
Harris & Petroni, Ltd, assists the Company in its restructuring
effort.  According to the schedules, the Company has assets of
$2,187,378, and total debts of $18,371,041.


LEHMAN BROTHERS: Bloomberg, Others Back Opening of Examiner Report
------------------------------------------------------------------
Bloomberg LP has expressed support to the examiner's move to
implement a process that would allow public access to his report.

Anton Valukas, the examiner appointed in the Chapter 11 cases of
Lehman Brothers Holdings Inc. and its affiliated debtors, filed
his report under seal last month to protect confidential
information.  The report contains the results of his
investigation into what caused the Debtors' bankruptcy.

"[Bloomberg LP] is gratified by the examiner's statement that the
report should be public and supports his request that the Court
establish procedures to unseal it," Bloomberg LP's global media
counsel, Charles Glasser Jr., Esq., says in court papers.

Bloomberg LP, however, suggested minor changes to the proposed
process to "ensure that the public receives the level of access
the law requires."  It proposes for one that the Court set the
specific standard that must be met for a party producing the
information to file under seal its objection to the disclosure of
the information.

The examiner's move to make his report accessible to the public
also gained support from plaintiffs in securities class actions
against certain Lehman officers.

The plaintiffs including the Alameda County Employees' Retirement
Association, and Locals 302 and 612 of the International Union of
Operating Engineers-Employers Construction Industry Retirement
Trust, say the need for full disclosure of the examiner's report
outweighs the confidentiality of any information in the report.
The plaintiffs say they may seek access to information in the
report in case that information is redacted.

Mr. Valukas spent a year and $38 million investigating the
bankruptcy of LBHI.  He said he will seek court approval to make
public his report if he can't persuade those he interviewed to
give up their right to confidentiality, according to a March 5
report by Bloomberg News.

Mr. Valukas' report is more than four times the combined length
of reports issued by Enron Corp. examiner Neal Batson in 2002 and
2003, which gave ammunition to investors seeking to recover
losses, Bloomberg News noted.

                           *     *     *

The Court set a March 4 deadline to file objections to the
unsealing of Anton Valukas' 2,200-page report.  The bankruptcy
judge will hold a March 11 hearing to consider Valukas's request
to make the report public.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also
bought Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEHMAN BROTHERS: LCPI Wins OK to Prepay Variable Funding Trusts
---------------------------------------------------------------
Lehman Commercial Paper Inc. obtained bankruptcy court approval to
prepay the notes issued by two securitization trusts before their
dates of maturity.

The maturity date for the notes issued by Variable Funding Trust
2008-1 is June 30, 2010, while the date of maturity for the notes
issued by Variable Funding Trust 2007-1 was December 31, 2009,
but it could be extended to June 30, 2010, pursuant to a
settlement agreement between LCPI and Metropolitan Life Insurance
Company.

MetLife is the lender under the note purchase agreements it
executed with the trusts, which authorized the latter to issue
notes to MetLife in return for availing up to $500 million.
Repayment of the notes is secured by collateral in the form of
mortgage loans or participations in corporate loans that LCPI
sold and assigned to the trusts.

Currently, about $258.8 million is due under the notes issued by
VFT 2007-1 after LCPI contributed to the trust about
$115.5 million, which was used to pay off the indebtedness.
Meanwhile, about $134.9 million is due under the notes issued by
VFT 2008-1.

Jacqueline Marcus, Esq., at Weil Gotshal & Manges LLP, in New
York, says it is too costly for LCPI to continue the financing
since the value of the collateral is presently greater than what
is owed by the trusts to MetLife.  She adds that LCPI would save
at least more than $12 million in financing costs by paying off
the notes prior to the maturity dates.

LCPI estimates that interest in the sum of up to $12.7 million
will accrue under the notes for the period January 20 to June 30,
2010.

Ms. Marcus further says the prepayment would also protect the
trusts' interests in the mortgage and corporate loans by
"effecting a release" of those collateral and that it would allow
LCPI to sell or restructure the loans without MetLife's consent.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also
bought Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEHMAN BROTHERS: Proposes Deal on JPM's $7.68 Bil. Claim
--------------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors seek
court approval of an agreement that would reduce JPMorgan Chase
Bank N.A.'s claim by more than $7 billion.

Under the deal, JPMorgan will take about $7.12 billion in the
cash collateral it is currently holding and reduce its claim
against LBHI and its affiliates from $7.68 billion to
$557 million, which will then be paid in cash by the Debtors and
Lehman Brothers Inc.  In return, JPMorgan will transfer to LBHI
the remaining collateral in the form of illiquid securities,
which may be worth billions of dollars, according to LBHI's
attorney, Shai Waisman, Esq., at Weil Gotshal & Manges LLP, in
New York.

JPMorgan has served as clearing bank for LBHI and its affiliates,
which had been required by the bank to post the collateral in
return for its services.

JPMorgan initially filed a claim of more than $29 billion, which
had been reduced to $7.68 billion over time after the bank used a
portion of the collateral, excluding the illiquid securities,
deposited by the Lehman units.

Mr. Waisman says LBHI plans to manage the illiquid securities
over time to increase their value.  "In the current poor economic
environment, a forced liquidation of the illiquid collateral
would result in highly diminished recoveries," he adds.

The Court will hold a hearing on March 17, 2010, to consider
approval of the agreement.  Deadline for filing objections is
March 10, 2010.

A full-text copy of the agreement is available without charge at:

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

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also
bought Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEHMAN BROTHERS: Proposes to Pay Fees & Expenses of Cayman SPVs
---------------------------------------------------------------
Lehman Brothers Special Financing Inc. seeks court approval to
pay the fees and expenses of Cayman-based special purpose
vehicles to avoid their possible dissolution.

The SPVs are at risk of being dissolved by the Registrar of
Companies in the Cayman Islands because of their failure to pay
off their annual fees as well as other charges, according to
LBSF's attorney, Jacqueline Marcus, Esq., at Weil Gotshal &
Manges LLP, in New York.  About $690,162 in fees is due to the
Registrar, Ms. Marcus says.

Lehman Brothers Inc., the broker-dealer unit of Lehman Brothers
Holdings Inc., is actually the one obligated to pay the fees and
expenses pursuant to its agreements with each of the SPVs.  LBI,
however, has not paid those fees since 2008.

"If the Cayman SPVs are dissolved, LBSF's ability to realize a
return on the transactions will be put in serious jeopardy," says
Ms. Marcus, referring to the numerous swap transactions LBSF
reached with the SPVs in which about $900 million is at stake.

"The outstanding fees of the Cayman SPVs must be paid to ensure
that the Cayman SPVs are returned to good standing," Ms. Marcus
says in court papers.

The Court will hold a hearing on March 17, 2010, to consider
approval of the proposed payment.  Deadline for filing objections
is March 10, 2010.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also
bought Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEHMAN BROTHERS: Seeks to Restructure Hilton's $21BB Loan
---------------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors seek
court approval of a deal to restructure the $21 billion loans
provided to Hilton Worldwide Inc.'s subsidiaries.

LBHI, together with a syndicate of lenders, provided the loan in
connection with the acquisition of Hilton Worldwide's common
stock by affiliates of The Blackstone Group in 2007.  The loan
consists of a mortgage loan provided to Hilton Worldwide's
affiliates and mezzanine loans made to owners of those
affiliates.

Almost all of the borrowers' assets were posted as collateral for
the mortgage loan.  The other loans, meanwhile, are secured by
pledges of ownership interests in the borrowers.

Under the proposed deal, the parent of Hilton Worldwide will
contribute $800 million to Hilton Worldwide to repurchase and
retire about $1.79 billion of certain senior mezzanine loans.
The parent's new investment will earn a 15% annual return and
have an $800 million liquidation preference.

The maturity date of the mortgage and the senior mezzanine loans
may be extended for up to two additional years upon payment by
Hilton Worldwide's affiliates of an extension fee equal to 0.50%
of the then outstanding principal balance of the loans.  The
final maturity date is November 2015.

The proposed deal also provides for the conversion of the junior
mezzanine loans to preferred equity with an 8% annual return and
about $2.8 billion aggregate liquidation preference when combined
with the parent's new investment.  Moreover, holders of junior
mezzanine loans and Hilton Worldwide's parent will receive a
profits interest entitled to 10% of all distributions after the
preferred equity's liquidation preference and a distribution of
$5.66 billion to the parent.

The Debtors' attorney, Alfredo Perez, Esq., at Weil Gotshal &
Manges LLP, in New York, says the proposed restructuring would
"deleverage" the capital structure of Hilton Worldwide by up to
$3.8 billion, maximizing the value of loans held by LBHI.

As of February 2010, LBHI holds more than $460 million in the
mortgage loan and more than $18 million in the mezzanine loans.

In connection with the deal, the Debtors also ask the Court to
authorize Lehman Commercial Paper Inc. to provide consents to
affiliates of GEM Realty Capital Inc. and Northwood Investors LLC
under the documentation governing the loans provided by LCPI in
order to facilitate the participation of those affiliates in the
restructuring of the senior mezzanine loans.

LCPI provided the loans to GEM Realty's and Northwood's
affiliates to fund their acquisition of a portion of LBHI's stake
in the senior mezzanine loans in 2008.

The Court will hold a hearing on March 17, 2010, to consider
approval of the proposed loan restructuring.  Deadline for filing
objections is March 10, 2010.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also
bought Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEHMAN BROTHERS: To File Chapter 11 Plan by March 15
----------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors ask the
U.S. Bankruptcy Court for the Southern District of New York to
give them until April 14, 2010, to file a disclosure statement in
connection with their Chapter 11 plan.

The Debtors are set to file their joint plan of reorganization on
or before the March 15, 2010 deadline.

"The Debtors have not had a full opportunity to consummate
negotiations with key creditor constituencies as to the
provisions of the plan.  In that context, the Debtors have not
had ample time to complete a comprehensive and adequately
informative disclosure statement," says the Debtors' attorney,
Harvey Miller, Esq., at Weil Gotshal & Manges LLP, in New York.

The disclosure statement provides a detailed description of the
major provisions of a Chapter 11 plan and other information that
would enable creditors to make an informed judgment concerning
the plan.

Mr. Miller says they intend to use the one-month extension to
seek input from the Debtors' major constituencies as to the
provisions of the Chapter 11 plan.  He adds that they have yet to
assess the values of the Debtors' assets and liabilities as well
as review the report of the examiner.

Anton Valukas, the court-appointed examiner in the Debtors'
bankruptcy cases, earlier filed his report about the results of
his investigation into what caused the Debtors' bankruptcy.  The
report, however, was filed under seal and is not yet accessible
to the public.

"Undoubtedly, information contained in the report will be
pertinent to the Debtors' plan and their disclosure statement,"
Mr. Miller says in court papers.

The Court has already issued a bridge order extending the
deadline for filing the disclosure statement until entry of an
order on the proposed extension.

The Court will hold a hearing on March 17, 2010.  Deadline for
filing objections is March 12, 2010.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also
bought Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LIMITED BRANDS: Concludes Amendment & Extension of Credit Deal
--------------------------------------------------------------
Limited Brands, Inc., has concluded an amendment and extension of
its existing amended and restated credit agreement dated as of
February 19, 2009.

Under the Amendment, the termination date of the Commitments of
Lenders who consented to the Amendment is extended by two years
(until August 1, 2014) and the aggregate amount of their
Commitments is reduced from $873,333,333 to $800,000,000.  The
termination date (August 3, 2012) and aggregate principal amount
($126,666,667) of the Commitments of non-consenting Lenders are
unchanged by the Amendment.  The Amendment reduces the aggregate
amount of the Commitments of the Lenders under the Credit
Agreement from $1,000,000,000 to $926,666,667.

Additionally, the Amendment modifies the covenants limiting
Investments and Restricted Payments to provide that Investments
and Restricted Payments may be made, without limitation on amount,
if (i) at the time of and after giving effect to such Investment
or Restricted Payment the ratio of Consolidated Debt to
Consolidated EBITDA for the most recent four quarter period is
less than 3.0 to 1.0 and (ii) no Default or Event of Default
exists.

In addition, as a condition to the effectiveness of the Amendment,
Limited Brands, repaid the approximately $200,000,000 outstanding
under the Term Loan Credit Agreement.

                    About Limited Brands

Headquartered in Columbus, Ohio, Limited Brands, Inc., operates
3,014 specialty stores under the Victoria's Secret, Bath & Body
Works, C.O. Bigelow, La Senza, White Barn Candle Co., and Henri
Bendel name plates.  The company's products are also available
online.  Revenues are about $9.0 billion.

                        *     *     *

As reported in the Troubled Company Reporter on March 5, 2010,
Standard & Poor's Ratings Services said that it revised its rating
outlook on Limited Brands to stable from negative, and affirmed
its 'BB' corporate credit rating on the company.


LODGIAN INC: Sets April 15 Meeting to Approve Lone Star Merger
--------------------------------------------------------------
On March 5, 2010, Lodgian, Inc., filed its final Proxy Statement
with the Securities and Exchange Commission.  The Company will
begin mailing the Definitive Proxy Statement to its shareholders
on or about March 12, 2010.

The Company has set April 15, 2010, as the date of the special
shareholders' meeting to approve the acquisition of the Company by
Lone Star Funds.  Holders of a majority of the Company's common
stock must vote in favor of the transaction at the special meeting
for it to be approved.  Assuming shareholder approval is received,
the Company expects to complete the merger within two business
days after obtaining shareholder approval.

                    Pending Merger Transaction

On January 22, 2010, the Company entered into a definitive
agreement to be acquired by LSREF Lodging Investments, LLC, in a
transaction valued at approximately $270 million, including
assumed debt.

Under the terms of the agreement, the purchaser will acquire all
of the outstanding common stock of Lodgian for $2.50 per share in
an all-cash transaction.  The price represents a premium of
approximately 67.%  over Lodgian's average closing share price
during the trading period of one calendar month prior to
January 15, 2010, and 64.3% over Lodgian's average closing share
price during the trading period of six calendar months prior to
January 15, 2010.

Lodgian's Board of Directors has unanimously approved the merger
agreement.

                       About Lodgian, Inc.

Lodgian, Inc. (NYSE Amex Equities: LGN) -- http://www.lodgian.com/
-- is one of the nation's largest independent hotel owners and
operators.  The Company currently owns and manages a portfolio of
28 hotels with 5,359 rooms located in 19 states.  Of the Company's
28-hotel portfolio, 14 are InterContinental Hotels Group brands
(Crowne Plaza, Holiday Inn, Holiday Inn Select and Holiday Inn
Express), 8 are Marriott brands (Marriott, Courtyard by Marriott,
SpringHill Suites by Marriott, Residence Inn by Marriott and
Fairfield Inn by Marriott), two are Hilton brands, and four are
affiliated with other nationally recognized franchisors including
Starwood, Wyndham, and Carlson.

                       Going Concern Doubt

In the fourth quarter of 2009, the Company surrendered the Crowne
Plaza in Worcester, Massachusetts to a receiver appointed by the
lender.  On February 16, 2010, the Company disclosed that it was
surrendering the six hotels in the Merrill Lynch Fixed Rate Pool
#3 to a receiver.  The debt associated with these six hotels was
$45.5 million as of December 31, 2009.

The Company has $56 million of mortgage debt maturing in 2010,
comprising two single-asset mortgages and the Merrill Lynch Fixed
Rate Pool 1.  With respect to the Merrill Lynch Fixed Rate Pool 1,
which is the largest maturity in 2010 with a principal balance of
$34.5 million, the Company discloses that Jones Lang LaSalle
continues to pursue refinancing options for this pool on the
Company's behalf.

As of December 31, 2009, the current portions of the Company's
long-term liabilities were re-classified to current liabilities.
Specifically, the Merrill Lynch Fixed Rate #1 Loan of
$34.5 million, which matures in July, has been classified as a
current liability.

"As a result of these re-classifications, as of December 31, the
Company's current liabilities significantly exceeded its current
assets," said James MacLennan, the Company's chief financial
officer, during the conference call.

"This situation raises the issue of the company's ability to
continue as a going concern.  Therefore, management expects that
Deloitte's opinion, that will accompany our 10-K filing next
month, will include "going concern" language," Mr. MacLennan
reported.


LOS ANGELES: Gives Tax Breaks to Internet Cos. Amid Budget Deficit
------------------------------------------------------------------
The Wall Street Journal's Tamara Audi reports that the city of Los
Angeles last week decided to forgo $3.4 million in revenue as it
slashed taxes for Internet companies.  According to the report,
officials say the tax break for the fast-growing industry is vital
to Los Angeles's future, even though it puts the city in a deeper
hole.  They worried that without the cut, more businesses and jobs
would flee the city, which has a 12.5% unemployment rate, the
Journal notes.

The Journal says Los Angeles is struggling to raise money and cut
costs to fill a $200 million budget gap that could force thousands
of layoffs and drive the city into bankruptcy.


LUXOR BUILDING: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Luxor Building Technologies, LLC
        20876 Rand Road
        Deer Park, IL 60010

Bankruptcy Case No.: 10-09453

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Debtor's Counsel: Richard N. Golding, Esq.
                  The Golding Law Offices, P.C.
                  The Boyce Building
                  500 North Dearborn Street, Second Floor
                  Chicago, IL 60654
                  Tel: (312) 832-7885
                  Fax: (312) 755-5720
                  Email: rgolding@goldinglaw.net

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $4,597,839
and total debts of $1,208,771.

A full-text copy of the Debtor's petition, including a list of its
4 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/ilnb10-09453.pdf

The petition was signed by William Tarsitano, member manager of
the Company.


MARGARET DAMIANI: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Joint Debtors: Margaret L. Damiani
               Patrick C. Damiani
               818 Haverstraw Rd.
               Suffern, NY 10901

Bankruptcy Case No.: 10-22390

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       Southern District of New York (White Plains)

Judge: Alan Jaroslovsky

Debtors' Counsel: Robert S. Lewis, Esq.
                  53 Burd Street
                  Nyack, NY 10960
                  Tel: (845) 358-7100
                  Fax: (845) 353-6943
                  Email: lewlaw1@aol.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $2,315,800
and total debts of $3,058,850.

A full-text copy of the Debtors' petition, including a list of
their 20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/nysb10-22390.pdf

The petition was signed by the Joint Debtors.


MASCO CORPORATION: Fitch Assigns 'BB+' Rating on $500 Mil. Notes
----------------------------------------------------------------
Fitch Ratings has assigned a 'BB+' rating to Masco Corporation's
offering of $500 million of 7.125% senior notes due 2020.  The new
issue will be ranked on a pari passu basis with all other senior
unsecured debt, including the company's revolving credit facility.
Proceeds from the notes offering will be used for general
corporate purposes, including the repayment of all or a portion of
the company's $300 million of floating-rate notes due on March 12,
2010.

On March 3, 2010, Fitch affirmed the company's ratings and revised
its Rating Outlook to Stable from Negative.  Fitch currently rates
Masco:

  -- Issuer Default Rating 'BB+';
  -- Senior unsecured notes 'BB+';
  -- Unsecured bank credit facility 'BB+'.

The ratings reflect Masco's leading market position with strong
brand recognition in its various business segments, the breadth of
its product offerings, and solid free cash flow generation.  Risk
factors include sensitivity to general economic trends, as well as
the cyclicality of the residential construction market.

The Stable Outlook reflects the company's strong liquidity
position at the end of 2009 and demonstrated ability to generate
meaningful free cash flow.  While the company's financial results
remain negatively affected by the persistent weakness in the
housing and home improvement markets, Masco continues to generate
solid free cash flow and ended the year with $1.4 billion of cash
on the balance sheet.  The Stable Outlook also reflects Fitch's
view of improved housing and home improvement markets in 2010
compared with 2009.

Net sales of $1.9 billion for the fourth quarter of 2009 (4Q'09,
ended Dec. 31, 2009) dropped 3% year-over-year (YOY) following
double-digit sales decreases for seven consecutive quarters.  The
company also reported positive 4Q'09 YOY sales comparisons for
three of its five business segments, with continued strength in
Decorative Architectural Products and sales improvements in
Plumbing and Other Specialty Products.  Sales for the company's
Cabinet and Related Products remained weak, reflecting consumers'
continued reluctance to undertake large-scale renovations.  While
there have been some recent indications that homeowners are more
willing to take on larger, more discretionary type home
improvement projects, Fitch assumes continued pressure on big
ticket items during 2010 as high unemployment levels persist and
housing prices remain relatively unstable.  Masco's Installation
Services business also reported continued weakness during the
fourth quarter.  Sales from this business segment typically lag
residential housing starts by approximately three months.  Given
the 19.2% decline in housing starts during 4Q'09, Fitch expects
lower sales for this segment to continue during 1Q'10.  Sales from
the Installation Services business could see a temporary boost
during 2Q'10 as homebuilders ramp up construction of new homes
during the first quarter to take advantage of potential homebuyers
utilizing the home tax credit, which expires on June 30, 2010.  In
January 2010, total housing starts were at a seasonally adjusted
annual rate of 591,000 homes, a 2.8% increase from the December
2009 level and a 21.1% increase over the January 2009 period.

Masco's margins and credit metrics have deteriorated over the past
few years.  EBITDA to interest coverage declined from 5.9 times in
2007 to 3.7x in 2008 and 2.8x in 2009.  Funds from operations
interest coverage also dropped to 3.1x in 2009 from 3.8x in 2008
and 4.8x in 2007.  The company's leverage as measured by debt to
EBITDA has steadily increased from 2.7x in 2007 to 4.7x in 2008
and 6.2x in 2009.  However, Fitch expects the company's credit
metrics to improve this year, with EBITDA to interest coverage
rising above 3x and the leverage ratio to be at or below 5x for
fiscal 2010.

Masco has solid liquidity with $1.4 billion of cash and
$1.2 billion of borrowing capacity under its $1.25 billion
unsecured revolving credit facility that matures in February 2011.
The company should have continued access to its revolver as Fitch
expects Masco to maintain sufficient cushion under its financial
covenants.

Masco continued to generate significant free cash flow (cash flow
from operations less capital expenditures and dividends) during
2009, generating $414 million compared to $261 million during
2008.  Fitch is also encouraged that management has taken steps to
preserve its liquidity during these uncertain times.  Masco had
been an aggressive purchaser of its stock since 2003, spending
about $1.2 billion annually, on average, in share repurchases and
dividends during 2003-2007.  In 2008, Masco spent $496 million on
the combination of share repurchases ($160 million) and dividends
($336 million).  The company has not repurchased stock since July
2008 and has put its share repurchase program on hold, except for
stock buybacks to offset the dilutive effect of stock grants.  In
March 2009, Masco also reduced its quarterly dividend from $.235
per common share ($.94 annually) to $.075 per share ($.30
annually), saving approximately $225 million per year.  Fitch
expects the company to preserve its strong liquidity position and
refrain from meaningful share repurchases through at least this
year.

Fitch's rating also takes into account the cyclicality of Masco's
end-markets.  In the past, Masco's relative earnings stability
during cyclical downturns were driven by end-market
diversification -- historically, weakness in residential demand
has been largely offset by growth in the repair and remodel
segment.  This has not been the case over the past three years,
wherein both of Masco's end-markets were in decline
simultaneously.  Recent statistical and anecdotal information
point to a possible bottom for U.S. housing, although early-stage
recovery will be more muted than average.  After falling by 13.1%
in 2008, existing home sales rose 4.9% in 2009 and are projected
to grow 6.5% in 2010.  In 2009, total housing starts fell 38.8%
while single-family housing starts decreased 28.4%.  Fitch
projects 2010 total and single-family housing starts to increase
14.8% and 18.6%, respectively.  New single-family home sales fell
22.9% in 2009 and are forecasted to grow 19.9% in 2010.

Similar to the overall housing market, the U.S. home improvement
industry is mired in an extended downturn.  According to the Home
Improvement Research Institute, sales of home improvement products
declined 3.7% to $291.5 billion in 2008 following a 1.4% decline
in 2007.  The HIRI currently estimates home improvement product
sales to have fallen a further 8.3% in 2009 to $267.3 billion.
While currently low interest rates make borrowing for home
renovations attractive, credit availability remains challenging.
The tightening of lending standards has made it more difficult and
expensive for homeowners to finance remodeling projects.
Additionally, unstable home prices, near record levels of
foreclosures and other distressed sales are discouraging
households from undertaking discretionary home projects.  A mild
pick-up in home sales, particularly in existing home sales,
combined with a strengthening economy could lead to higher
spending on home renovations this year.  Fitch currently projects
home improvement spending to grow 3.5% in 2010.

Future ratings and Outlooks will be influenced by broad housing
and home improvement market trends, as well as company-specific
activity, particularly free cash flow trends and uses.  Masco's
rating is constrained in the intermediate term due to weak credit
metrics, but a Positive Rating Outlook may be considered if the
recovery in housing metrics and home improvement spending is
significantly better than Fitch's outlook and the company improves
its credit metrics above Fitch's current expectations.  Negative
rating actions could occur if the anticipated recovery in Masco's
end-markets do not materialize and/or management resumes a
meaningful share repurchase program before there is clear
stability in the housing and home improvement markets.

Founded in 1929, Masco Corporation manufactures, sells and
installs home improvement and building products, with emphasis on
brand-name products and services holding leadership positions in
their markets.  The company is among the largest manufacturers in
North America of brand-name consumer products designed for home
improvement and new construction markets.


MASCO CORPORATION: Moody's Assigns 'Ba2' Rating on Senior Notes
---------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating Masco
Corporation's proposed senior unsecured notes due 2020.  In a
related rating action Moody's affirmed Masco's Corporate Family
Rating and Probability of Default Rating at Ba2 and senior
unsecured notes at Ba1.  Masco's speculative grade liquidity
rating remains SGL-2.  The outlook is stable.

The rating on the proposed senior unsecured notes due 2020
reflects the pari passu ranking with Masco's other unsecured
obligations.  Proceeds from the proposed senior unsecured notes
will be used to refinance the company's existing $300 million
Senior Unsecured Notes due 03/12/2010.  Excess proceeds from the
proposed note issuance will be kept on balance sheet and used to
pre fund the $850 million Sr.  Unsecured Notes due 07/12/2012.

Masco's Ba2 Corporate Family Rating considers Masco's scale,
strong market position, and extensive product offerings.  The
company sells across a diverse array of building products
segments, mitigating the adverse effect of weakness in any single
line of business.  The Decorative Architectural Products segment
continues to perform well, and serves to partially offset the
lackluster performance in the company's Cabinets and Related
Products and Installation and Other Services businesses.  Despite
the likelihood of margin expansion, Masco's interest coverage and
debt leverage credit metrics will remain weak, constraining the
rating for an extended period of time.  EBITA/interest expense was
1.5 times and (EBITDA - CAPEX)/interest expense was about 1.9
times for FY09 while debt/EBITDA was 6.7 times at FYE09 (all
ratios adjusted per Moody's methodology).  Significant cash
balances of about $1.4 billion at FYE09 serve as a counterpoint to
weak credit metrics, giving Masco a strong liquidity cushion as it
grapples with ongoing operating weakness.

These ratings/assessments were affected by this action:

  -- Corporate Family Rating affirmed at Ba2;

  -- Probability of Default Rating affirmed at Ba2;

  -- Proposed senior unsecured notes due 2020 rated Ba2 (LGD4,
     56%);

  -- Senior unsecured notes ratings affirmed at Ba2 (LGD4, 56%);

  -- Various shelf securities affirmed at (P)Ba2/(P)B1.

The company's speculative grade liquidity rating remains at SGL-2.

The last rating action was on February 22, 2010, at which time
Moody's affirmed Masco's Corporate Family Rating at Ba2, but
changed the outlook to stable from negative.

Masco Corporation, headquartered in Taylor, MI, is one of the
largest manufacturers in North America of a number of home
improvement and building products, including faucets, cabinets,
architectural coatings and windows and is one of the largest
installers of insulation for the new home construction market.
The Company generally distributes products through multiple
channels including home builders and wholesale and retail
channels.  North American operations generated approximately 79%
of its sales.  Revenues for FY09 totaled approximately
$7.8 billion.


MAUREEN MORRILL: Case Summary & 19 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Maureen L. Morrill
          aka L. Maureen Jones
          aka Maureen Morrill-Jones
        11 Cornwall Road
        Warren, CT 06754

Bankruptcy Case No.: 10-50492

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       District of Connecticut (Bridgeport)

Debtor's Counsel: Ira B. Charmoy, Esq.
                  Zeldes Needle & Cooper
                  1000 Lafayette Blvd
                  P.O. Box 1740
                  Bridgeport, CT 06601
                  Tel: (203) 333-9441
                  Fax: (203) 333-1489
                  Email: icharmoy@znclaw.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A list of the Company's 19 largest unsecured creditors is
available for free at http://bankrupt.com/misc/ctb10-50492.pdf

The petition was signed by Maureen L. Morrill.


MCCLATCHY CO: Ariel Investments Holds 5.1% of Class A Shares
------------------------------------------------------------
Ariel Investments, LLC, disclosed that as of December 31, 2009, it
may be deemed to hold 3,015,711 shares or roughly 5.1% of the
Class A common stock of The McClatchy Company.

The McClatchy Company is the third largest newspaper company in
the United States, with 30 daily newspapers, 43 non-dailies, and
direct marketing and direct mail operations.  McClatchy also
operates leading local Web sites in each of its markets which
extend its audience reach.  The Web sites offer users
comprehensive news and information, advertising, e-commerce and
other services.  Together with its newspapers and direct marketing
products, these interactive operations make McClatchy the leading
local media company in each of its premium high growth markets.
McClatchy-owned newspapers include The Miami Herald, The
Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City
Star, The Charlotte Observer, and The News & Observer (Raleigh).

McClatchy also owns a portfolio of premium digital assets,
including 14.4% of CareerBuilder, the nation's largest online job
site, 25.6% of Classified Ventures, a newspaper industry
partnership that offers two of the nation's premier classified
websites: the auto website, cars.com, and the rental site,
Apartments.com and 33.3% of HomeFinder, LLC which operates the
real estate website HomeFinder.com.  McClatchy is listed on the
New York Stock Exchange under the symbol MNI.

As of December 27, 2009, the Company had $3,302,899,000 in total
assets against $263,210,000 in total current assets and
$2,869,500,000 in total non-current liabilities, resulting in
stockholders' equity of $170,189,000.

                           *     *     *

The Troubled Company Reporter said on Feb. 15, 2010, Moody's
Investors Service upgraded The McClatchy Company's Corporate
Family Rating to Caa1 from Caa2, Probability of Default Rating to
Caa1 from Caa2, and senior unsecured and unguaranteed note ratings
to Caa2 from Caa3, concluding the review for upgrade initiated on
January 27, 2010.  The upgrades reflect McClatchy's improved
liquidity position and reduced near-term default risk following
completion of the company's refinancing, and its ability to
stabilize EBITDA performance through significant cost reductions.
The rating outlook is stable.

As reported by the TCR on January 14, 2010, Fitch Ratings placed
McClatchy's Issuer Default Rating of 'C' on Watch Positive.
Approximately $2 billion of debt is affected by Fitch's action.

The TCR on July 2, 2009, said Standard & Poor's Ratings Services
raised its corporate credit rating on McClatchy to 'CC' from 'SD'
(selective default).  The rating outlook is negative.  At the same
time, S&P raised its issue-level rating on each of McClatchy's
senior unsecured notes originally issued by Knight Ridder Inc. to
'C' from 'D'.  All other outstanding ratings on the company were
affirmed.


MCCLATCHY CO: Brandes Investment No Longer Holds Shares
-------------------------------------------------------
Brandes Investment Partners, L.P.; Brandes Investment Partners,
Inc.; Brandes Worldwide Holdings, L.P.; Charles H. Brandes; Glenn
R. Carlson; and Jeffrey A. Busby disclosed that as of December 31,
2009, they no longer held shares of The McClatchy Company.

The McClatchy Company is the third largest newspaper company in
the United States, with 30 daily newspapers, 43 non-dailies, and
direct marketing and direct mail operations.  McClatchy also
operates leading local Web sites in each of its markets which
extend its audience reach.  The Web sites offer users
comprehensive news and information, advertising, e-commerce and
other services.  Together with its newspapers and direct marketing
products, these interactive operations make McClatchy the leading
local media company in each of its premium high growth markets.
McClatchy-owned newspapers include The Miami Herald, The
Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City
Star, The Charlotte Observer, and The News & Observer (Raleigh).

McClatchy also owns a portfolio of premium digital assets,
including 14.4% of CareerBuilder, the nation's largest online job
site, 25.6% of Classified Ventures, a newspaper industry
partnership that offers two of the nation's premier classified
websites: the auto website, cars.com, and the rental site,
Apartments.com and 33.3% of HomeFinder, LLC which operates the
real estate website HomeFinder.com.  McClatchy is listed on the
New York Stock Exchange under the symbol MNI.

As of December 27, 2009, the Company had $3,302,899,000 in total
assets against $263,210,000 in total current assets and
$2,869,500,000 in total non-current liabilities, resulting in
stockholders' equity of $170,189,000.

                           *     *     *

The Troubled Company Reporter said on Feb. 15, 2010, Moody's
Investors Service upgraded The McClatchy Company's Corporate
Family Rating to Caa1 from Caa2, Probability of Default Rating to
Caa1 from Caa2, and senior unsecured and unguaranteed note ratings
to Caa2 from Caa3, concluding the review for upgrade initiated on
January 27, 2010.  The upgrades reflect McClatchy's improved
liquidity position and reduced near-term default risk following
completion of the company's refinancing, and its ability to
stabilize EBITDA performance through significant cost reductions.
The rating outlook is stable.

As reported by the TCR on January 14, 2010, Fitch Ratings placed
McClatchy's Issuer Default Rating of 'C' on Watch Positive.
Approximately $2 billion of debt is affected by Fitch's action.

The TCR on July 2, 2009, said Standard & Poor's Ratings Services
raised its corporate credit rating on McClatchy to 'CC' from 'SD'
(selective default).  The rating outlook is negative.  At the same
time, S&P raised its issue-level rating on each of McClatchy's
senior unsecured notes originally issued by Knight Ridder Inc. to
'C' from 'D'.  All other outstanding ratings on the company were
affirmed.


MCCLATCHY CO: Chou Asia Fund Holds 3.0% of Class A Shares
---------------------------------------------------------
Chou Asia Fund, Chou Associates Management Inc., and Francis S. M.
Chou disclosed that as of December 31, 2009, they may be deemed to
hold 1,777,601 shares or roughly 3.0% of the Class A common stock
of The McClatchy Company.

Chou Associates Management is the investment advisor of Chou Asia
Fund and other investment funds.  Mr. Francis S. M. Chou is the
Chief Executive Officer and Portfolio Manager of Chou Associates
Management and the Portfolio Manager of Chou Asia Fund.

The McClatchy Company is the third largest newspaper company in
the United States, with 30 daily newspapers, 43 non-dailies, and
direct marketing and direct mail operations.  McClatchy also
operates leading local Web sites in each of its markets which
extend its audience reach.  The Web sites offer users
comprehensive news and information, advertising, e-commerce and
other services.  Together with its newspapers and direct marketing
products, these interactive operations make McClatchy the leading
local media company in each of its premium high growth markets.
McClatchy-owned newspapers include The Miami Herald, The
Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City
Star, The Charlotte Observer, and The News & Observer (Raleigh).

McClatchy also owns a portfolio of premium digital assets,
including 14.4% of CareerBuilder, the nation's largest online job
site, 25.6% of Classified Ventures, a newspaper industry
partnership that offers two of the nation's premier classified
websites: the auto website, cars.com, and the rental site,
Apartments.com and 33.3% of HomeFinder, LLC which operates the
real estate website HomeFinder.com.  McClatchy is listed on the
New York Stock Exchange under the symbol MNI.

As of December 27, 2009, the Company had $3,302,899,000 in total
assets against $263,210,000 in total current assets and
$2,869,500,000 in total non-current liabilities, resulting in
stockholders' equity of $170,189,000.

                           *     *     *

The Troubled Company Reporter said on Feb. 15, 2010, Moody's
Investors Service upgraded The McClatchy Company's Corporate
Family Rating to Caa1 from Caa2, Probability of Default Rating to
Caa1 from Caa2, and senior unsecured and unguaranteed note ratings
to Caa2 from Caa3, concluding the review for upgrade initiated on
January 27, 2010.  The upgrades reflect McClatchy's improved
liquidity position and reduced near-term default risk following
completion of the company's refinancing, and its ability to
stabilize EBITDA performance through significant cost reductions.
The rating outlook is stable.

As reported by the TCR on January 14, 2010, Fitch Ratings placed
McClatchy's Issuer Default Rating of 'C' on Watch Positive.
Approximately $2 billion of debt is affected by Fitch's action.

The TCR on July 2, 2009, said Standard & Poor's Ratings Services
raised its corporate credit rating on McClatchy to 'CC' from 'SD'
(selective default).  The rating outlook is negative.  At the same
time, S&P raised its issue-level rating on each of McClatchy's
senior unsecured notes originally issued by Knight Ridder Inc. to
'C' from 'D'.  All other outstanding ratings on the company were
affirmed.


MCGOWIN PATRICK: Files for Chapter 11 Bankruptcy
------------------------------------------------
Kathy Jumper at Alabama Live LLC reports that McGowin Patrick and
Clifton Inge of IPC Industries in Mobile, and William Clay of
Destin, Florida, filed for Chapter 11 protection.

According to the report, Messrs. Patrick, Inge and Clay were
ordered to pay a judgment of more than $2.5 million in a lawsuit
over a Sandestin Resort development.  They were sued after
acquiring lost in the resort that they wrongly believed was
completely sold.

The lawsuit alleged fraud, conspiracy and violation of the
Interstate Land Sales Full Disclosure Act.


MEDICOR LTD: Court Okays Stipulation on Escrowed Funds Use
----------------------------------------------------------
The Hon. Mary Walrath of the U.S. Bankruptcy Court for the
District of Delaware approved the stipulation allowing MediCor
Ltd., and its debtor-affiliates' limited use of Eurosilicone
Escrowed Funds.

Pursuant to the stipulation, Eurosilicone consented to the
Debtors' access to the funds, provided that, among other things:

   -- the money will be used to pay reasonable and necessary
      estate expenses;

   -- the Debtors may use the Eurosilicone escrowed funds
      ($3,950,000) to pay the settlement amount to the settlement
      trustee pursuant to an agreement dated as of November 30,
      2009.  The amount may only be used for purposes other than
      paying the settlement amount to the settlement trustee if
      and if (a) the settlement agreement is terminated; and (b)
      the other use is authorized by further order of the
      Bankruptcy Court; and

   -- the Debtors' access to the escrowed funds will terminate at
      the event of default or the occurrence of a termination
      event.

Headquartered in North Las Vegas, Nevada, MediCor Ltd. --
http://www.medicorltd.com/-- manufactures and markets products
primarily for aesthetic, plastic and reconstructive surgery and
dermatology markets.  The company and seven of its affiliates
filed for Chapter 11 protection on June 29, 2007 (Bankr. D. Del.
Lead Case No. 07-10877) to effectuate the orderly marketing and
sale of their business.  Dennis A. Meloro, Esq., and Victoria
Watson Counihan, Esq., at Greenberg Traurig, LLP, represent the
Debtors' as Delaware counsel.  The Debtors engaged Alvarez &
Marsal North America, LLC as their restructuring advisor.  David
W. Carickhoff, Jr., Esq., at Blank Rome LLP represents the
Official Committee of Unsecured Creditors as counsel.  In its
schedules of assets and debts, MediCor Ltd. disclosed total assets
of $96,553,019, and total debts of $158,137,507.


MEDICOR LTD: Unsecureds to Recover Up to 24.4%
----------------------------------------------
Bill Rochelle at Bloomberg News reports that MediCor Ltd. has
filed an amendment to the liquidating Chapter 11 plan.  The plan
provides that secured creditors with $57.1 million in claims would
recover about 25% from the liquidation of the assets.  Unsecured
creditors, with claims totaling $4 million to $22 million, will
recover 4.4% to 24.4%.  The secured creditors and unsecured
creditors will split up what the disclosure statement says will be
a "speculative" amount in lawsuit recoveries.

According to the report, the plan carries out a previously reached
settlement with the Nevada state court receiver for affiliate
Southwest Exchange Inc., who was claiming a constructive trust
over company funds on behalf of his creditors.

                         About MediCor Ltd.

Headquartered in North Las Vegas, Nevada, MediCor Ltd. --
http://www.medicorltd.com/-- manufactures and markets products
primarily for aesthetic, plastic and reconstructive surgery and
dermatology markets.  The company and seven of its affiliates
filed for Chapter 11 protection on June 29, 2007 (Bankr. D. Del.
Lead Case No. 07-10877) to effectuate the orderly marketing and
sale of their business.  Dennis A. Meloro, Esq., and Victoria
Watson Counihan, Esq., at Greenberg Traurig, LLP, represent the
Debtors' as Delaware counsel.  The Debtors engaged Alvarez &
Marsal North America, LLC as their restructuring advisor.  David
W. Carickhoff, Jr., Esq., at Blank Rome LLP represents the
Official Committee of Unsecured Creditors as counsel.  In its
schedules of assets and debts, MediCor Ltd. disclosed total assets
of $96,553,019, and total debts of $158,137,507.


MESA VERDE RE: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Mesa Verde RE Ventures LLC
        2 Park Plaza, Suite 1250
        Irvine, CA 92614

Bankruptcy Case No.: 10-12757

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Theodor Albert

Debtor's Counsel: Kenneth Hennesay, Esq.
                  Allen Matkins Leck Gamble& Mallory LLP
                  1900 Main St Fifth Flr
                  Irvine, CA 92614-7321
                  Tel: (949) 553-1313
                  Fax: (949) 553-8354
                  Email: khennesay@allenmatkins.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $6,826,177,
and total debts of $1,807,228.

A full-text copy of the Debtor's petition, including a list of its
3 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/cacb10-12757.pdf

The petition was signed by C. Jay Won, manager of the Company.


METABASIS THERAPEUTICS: Earns $2.7 Million in Q3 2009
-----------------------------------------------------
Metabasis Therapeutics, Inc., filed its quarterly report on Form
10-Q, showing net income of $2.7 million on $4.9 million of
revenue for the three months ended September 30, 2009, compared
with a net loss of $9.8 million on $1.4 million of revenue for the
same period of 2008.

The Company's balance sheet as of September 30, 2009, showed
$4.1 million in assets, $1.2 million of debts, and $2.8 million of
stockholders' equity.

Ernst & Young LLP, in San Diego, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern
after auditing the Company's financial statements for the year
ended December 31, 2008.  The independent auditors noted that the
Company's existing working capital is not sufficient to meet its
cash requirements to fund planned operating expenses and working
capital requirements through December 31, 2009, without additional
sources of cash.

As of September 30, 2009 the Company's accumulated deficit totaled
$194.8 million.   On October 26, 2009, the Company entered into a
merger agreement with Ligand Pharmaceuticals Incorporated.  After
considering the impact of these recent transactions, and together
with the cash available at September 30, 2009, the Company expects
its existing working capital to fund its current operations
through March 31, 2010, or, if sooner, the completion of the
merger.  In the event the merger is not completed and the Company
is otherwise unable to secure additional resources, including
through another strategic transaction, it will be required to
cease operations entirely.  "These conditions raise substantial
doubt about the Company's ability to continue as a going concern."

A full-text copy of the quarterly report is available for free at:

                 http://researcharchives.com/t/s?5791

                        About the Company

La Jolla, Calif.-based Metabasis Therapeutics, Inc., is a
biopharmaceutical company whose product pipeline includes product
candidates and advanced discovery programs for the treatment of
metabolic and liver diseases such as diabetes, hyperlipidemia,
hepatitis and primary liver cancer.


MIDWEST BANC: E.V. Silveri Holds 8.0% of Common Stock
-----------------------------------------------------
E.V. Silveri, in River Forest, Illinois, disclosed that he may be
deemed to hold 2,254,287 shares or roughly 8.0% of the common
stock of Midwest Banc Holdings, Inc.  E.V. Silveri has served as
Chairman of the Board of the Company from 1983 to 2007 and
currently serves as a Director.

Based in Melrose Park, Illinois, Midwest Banc Holdings, Inc.
(NASDAQ:MBHI) is a half century old community bank with
$3.5 billion in assets at September 30, 2009.  The Company has two
principal operating subsidiaries: Midwest Bank and Trust Company
and Midwest Financial and Investment Services, Inc.  Midwest Bank
has 26 locations serving the diverse needs of both urban and
suburban Chicagoland businesses and consumers through its
Commercial Banking, Wealth Management, Corporate Trust and Retail
Banking areas.

The Company has $3.43 billion in total assets and $3.37 billion in
total liabilities resulting to a $50.0 million stockholders'
equity, as of December 31, 2009.

                           *     *     *

Midwest Banc Holdings violated the covenants under its revolving
line of credit and term note and the related loan documents
relating to the level of nonperforming loans and the failure to
report a quarterly profit, as of June 30, 2009; did not make a
required $5.0 million principal payment due on July 1, 2009, under
the covenant waiver for the third quarter of 2008, for which the
Company was advised by its lender that such noncompliance
constituted a continuing event of default; and did not pay the
lender all of the aggregate outstanding principal on the revolving
line of credit at its maturity date of July 3, 2009, which
constituted an additional event of default under the Credit
Agreements. The Company did not make a required $5.0 million
principal payment due on October 1, 2009.

As reported by the Troubled Company Reporter on October 30, 2009,
the Company entered into a Forbearance Agreement with its lender.
The forbearance period expires March 31, 2010.


MIDWEST BANC: M3 Funds Holds 9.2% of Series A Preferreds
--------------------------------------------------------
M3 Funds, LLC; M3 Partners, LP; M3F, Inc.; Jason A. Stock; and
William C. Waller disclosed that as of December 31, 2009, they may
be deemed to own 159,039 depository shares of shares of Series A
Noncumulative Redeemable Convertible Perpetual Preferred Stock of
Midwest Banc Holdings, Inc., which represents 9.2% of the
outstanding Series A Noncumulative Redeemable Convertible
Perpetual Preferred Stock.

Messrs. Stock and Waller are the managers of the General Partner
and the managing directors of the Investment Adviser, and
accordingly could be deemed to be indirect beneficial owners of
the reported shares.  They could be deemed to share such indirect
beneficial ownership with the General Partner, the Investment
Adviser and M3 Partners.

                   About Midwest Banc Holdings

Based in Melrose Park, Illinois, Midwest Banc Holdings, Inc.
(NASDAQ:MBHI) is a half century old community bank with
$3.5 billion in assets at September 30, 2009.  The Company has two
principal operating subsidiaries: Midwest Bank and Trust Company
and Midwest Financial and Investment Services, Inc.  Midwest Bank
has 26 locations serving the diverse needs of both urban and
suburban Chicagoland businesses and consumers through its
Commercial Banking, Wealth Management, Corporate Trust and Retail
Banking areas.

The Company has $3.43 billion in total assets and $3.37 billion in
total liabilities resulting to a $50.0 million stockholders'
equity, as of December 31, 2009.

                           *     *     *

Midwest Banc Holdings violated the covenants under its revolving
line of credit and term note and the related loan documents
relating to the level of nonperforming loans and the failure to
report a quarterly profit, as of June 30, 2009; did not make a
required $5.0 million principal payment due on July 1, 2009 under
the covenant waiver for the third quarter of 2008, for which the
Company was advised by its lender that such noncompliance
constituted a continuing event of default; and did not pay the
lender all of the aggregate outstanding principal on the revolving
line of credit at its maturity date of July 3, 2009, which
constituted an additional event of default under the Credit
Agreements.  The Company did not make a required $5.0 million
principal payment due on October 1, 2009.

As reported by the Troubled Company Reporter on October 30, 2009,
the Company entered into a Forbearance Agreement with its lender.
The forbearance period expires March 31, 2010.


MIDWAY GAMES: M. Booty Resigns as CEO, Will Remain as Chairman
--------------------------------------------------------------
On March 1, 2010, Matthew V. Booty, President and Chief Executive
Officer of Midway Games Inc., and Chairman of the Company's Board
of Directors, provided notice of his intent to resign as an
employee and Chief Executive Officer of the Company effective on
March 24, 2010.  Mr. Booty will continue to serve as Chairman of
the Board and President of the Company.  The Company said
Mr. Booty had no disagreement with the Company on any matters
related to the Company's operations, policies or practices.

                       About Midway Games

Headquartered in Chicago, Illinois, Midway Games Inc. (OTC Pink
Sheets: MWYGQ) -- http://www.midway.com/-- was a leading
developer and publisher of interactive entertainment software for
major videogame systems and personal computers.

The Company and nine of its affiliates filed for Chapter 11
protection on February 12, 2009 (Bankr. D. Del. Lead Case No.
09-10465).  Michael D. DeBaecke, Esq., Jason W. Staib, Esq, and
Victoria A. Guilfoyle, Esq., at Blank Rome LLP, in Wilmington,
Delaware; and Marc E. Richards, Esq., and Pamela E. Flaherty,
Esq., at Blank Rome LLP, in New York, represent the Debtors in
their restructuring efforts.  Attorneys at Milbank, Tweed, Hadley
& McCloy LLP and Richards, Layton & Finger, P.A. represent the
official committee of unsecured creditors as counsel.  Epiq
Bankruptcy Solutions, LLC, is the Debtors' claims, noticing, and
balloting agent.

On July 10, 2009, Midway and certain of its U.S. subsidiaries
completed the sale of substantially all of their assets to Warner
Bros. Entertainment Inc. in a sale approved by the Court.  The
aggregate gross purchase price is roughly $49 million, including
the assumption of certain liabilities.  Midway is disposing of its
remaining assets.

At June 30, 2009, the Debtors had $1.39 billion in total assets
and $1.59 billion in total liabilities.

As reported in the Troubled Company Reporter on February 25, 2010,
the Debtors have filed a joint Chapter 11 plan of liquidation and
explanatory disclosure statement.  The Debtors will seek approval
of the adequacy of the information in the Disclosure Statement on
March 23.  Objections are due March 16.  The Debtors will begin
soliciting votes on, and then seek confirmation of, the Plan after
the Disclosure Statement is approved.


MIDWEST BANC: Treasury Swaps Series T Preferred Shares
------------------------------------------------------
Midwest Banc Holdings, Inc., on February 25, 2010, entered into an
exchange agreement with the United States Department of the
Treasury pursuant to which the U.S. Treasury agreed to exchange
all shares of the Company's Fixed Rate Cumulative Perpetual
Preferred Stock, Series T it owns, having an aggregate approximate
liquidation preference of $84.8 million, plus $4.5 million in
unpaid dividends on such preferred stock, for a new series of
Fixed Rate Cumulative Mandatorily Convertible Preferred Stock,
Series G -- New Preferred Stock -- with a like liquidation
preference.  The New Preferred Stock will have the same dividend
rate as the Series T preferred stock, namely a dividend rate of 5%
per annum from the issue date to February 15, 2014 and 9% per
annum thereafter.

Each share of New Preferred Stock will be convertible into
approximately 528 shares of common stock of the Company, subject
to any required anti-dilution adjustments.  If the U.S. Treasury
were to convert all of the approximately $89.3 million in
liquidation preference of the New Preferred Stock, the Company
would be required to issue approximately 47.1 million shares of
its common stock, subject to any required anti-dilution
adjustments.

Under the terms of the Exchange Agreement, the U.S. Treasury has
the authority to convert the New Preferred Stock into the
Company's common stock at any time.  In addition, the Company can
compel a conversion of the New Preferred Stock into common stock,
subject to these conditions:

     (i) the Company receives appropriate approvals from the
         Federal Reserve;

    (ii) approximately $78.8 million principal amount of the
         Company's senior and subordinated debt shall have been
         previously converted into common stock on terms
         acceptable to the U.S. Treasury in its sole discretion;

   (iii) the Company shall have completed a new cash equity raise
         of not less than $125 million on terms acceptable to the
         U.S. Treasury in its sole discretion; and

    (iv) the Company has made the anti-dilution adjustments to the
         New Preferred Stock, if any, as required by the terms
         thereof.

Unless earlier converted, the New Preferred Stock will convert
automatically into shares of the Company's common stock on the
seventh anniversary of the issuance of the New Preferred Stock.
As part of the terms of the Exchange, the Company also agreed to
amend and restate the terms of the U.S. Treasury's warrant, dated
December 5, 2008, to purchase 4,282,020 shares of common stock, in
order to adjust the conversion price to be consistent with the
conversion price applicable to the New Preferred Stock.  The
Exchange remains subject to certain customary closing conditions.

At a special meeting of the holders of the Company's common stock
held on March 2, 2010, the Company's stockholders approved by the
requisite number of votes all proposals to amend the Company's
Certificate of Incorporation as well as the issuance of shares of
common stock to the Treasury upon any conversion of the New
Preferred Stock.  The proposals approved were:

     -- amending the Company's Certificate of Incorporation to
        increase the number of authorized shares of common stock
        of Midwest from 64 million to four billion shares;

     -- amending the Company's Certificate of Incorporation to
        (i) effect a reverse stock split of the Company's common
        stock at any time prior to December 31, 2010 at one of
        four reverse split ratios, 1-for-100, 1-for-150, 1-for-
        200, or 1-for-250, as determined by the board of directors
        in its sole discretion and (ii) if and when the reverse
        stock split is effected, reduce the number of authorized
        shares of the Company's common stock by the reverse split
        ratio determined by the board of directors;

     -- amending the Company's Certificate of Incorporation to
        eliminate the voting rights of shares of common stock with
        respect to any amendment to the Certificate of
        Incorporation (including any certificate of designation
        related to any series of preferred stock) that relates
        solely to the terms of one or more outstanding series of
        preferred stock, if such series of preferred stock is
        entitled to vote, either separately or together as a class
        with the holders of one or more other such series, on such
        amendment;

     -- eliminating the requirements contained in the certificate
        of designation of the Series A Preferred Stock that:

        * full dividends on all outstanding shares of the Series A
          Preferred Stock must have been declared and paid or
          declared and set aside for the then current dividend
          period before the Company may pay any dividend on, make
          any distributions relating to, or redeem, purchase,
          acquire or make a liquidation payment relating to the
          Company's common stock or any other securities junior to
          the Series A Preferred Stock;

        * if full dividends are not declared and paid in full on
          the Series A Preferred Stock, dividends with respect to
          all series of stock ranking equally with the Series A
          Preferred Stock will be declared on a proportional
          basis, such that no series is paid a greater percentage
          of its stated dividend than any other equally ranking
          series;

        * a series of preferred stock ranking equally with the
          Series A Preferred Stock cannot be issued without the
          approval of holders of the Series A Preferred Stock if
          the certificate of designation for such parity preferred
          stock will provide that the dividends on the parity
          preferred stock will cumulate; and

        * no dividends shall be paid or declared on any particular
          series of preferred stock unless dividends are paid or
          declared pro rata on all shares of outstanding preferred
          stock which rank equally as to dividends with such
          particular series;

     -- eliminating the requirement contained in the certificate
        of designation of the Series A Preferred Stock that
        holders of Series A Preferred Stock have a right to elect
        two directors if dividends have not been paid for six
        quarterly dividend periods, whether or not consecutive;
        and

     -- the issuance of shares of common stock of the Company upon
        any conversion of the New Preferred Stock by the U.S.
        Treasury into shares of common stock.

                   About Midwest Banc Holdings

Based in Melrose Park, Illinois, Midwest Banc Holdings, Inc.
(NASDAQ:MBHI) is a half century old community bank with
$3.5 billion in assets at September 30, 2009.  The Company has two
principal operating subsidiaries: Midwest Bank and Trust Company
and Midwest Financial and Investment Services, Inc.  Midwest Bank
has 26 locations serving the diverse needs of both urban and
suburban Chicagoland businesses and consumers through its
Commercial Banking, Wealth Management, Corporate Trust and Retail
Banking areas.

The Company has $3.43 billion in total assets and $3.37 billion in
total liabilities resulting to a $50.0 million stockholders'
equity, as of December 31, 2009.

                           *     *     *

Midwest Banc Holdings violated the covenants under its revolving
line of credit and term note and the related loan documents
relating to the level of nonperforming loans and the failure to
report a quarterly profit, as of June 30, 2009; did not make a
required $5.0 million principal payment due on July 1, 2009 under
the covenant waiver for the third quarter of 2008, for which the
Company was advised by its lender that such noncompliance
constituted a continuing event of default; and did not pay the
lender all of the aggregate outstanding principal on the revolving
line of credit at its maturity date of July 3, 2009, which
constituted an additional event of default under the Credit
Agreements. The Company did not make a required $5.0 million
principal payment due on October 1, 2009.

As reported by the Troubled Company Reporter on October 30, 2009,
the Company entered into a Forbearance Agreement with its lender.
The forbearance period expires March 31, 2010.


MORRIS PUBLISHING: Inks Indenture Agreement for New Notes
---------------------------------------------------------
On March 1, 2010, Morris Publishing Group, LLC and its subsidiary,
Morris Publishing Finance Co., as issuers, and all of its other
subsidiaries, as guarantors, entered into an Indenture with
Wilmington Trust FSB as Trustee and Collateral Agent, with respect
to the issuers' $100 million principal amount of Floating Rate
Secured Notes due 2014.  Other than the relationships with respect
to the Indenture, Morris Publishing and its affiliates have no
material relationship with Wilmington Trust.

The New Notes were issued in consummation of the Debtors'
confirmed Chapter 11 prepackaged joint plan of reorganization.
Pursuant to the Plan, the claims of the holders of Morris
Publishing's 7% Senior Subordinated Notes Due 2013, in an
aggregate principal amount of approximately $278.5 million plus
accrued and unpaid interest, were cancelled in exchange for the
issuance of the New Notes.

The New Notes will mature on September 1, 2014.

Under the terms of the Indenture, the New Notes will bear 10%
interest commencing March 1, 2010, payable in cash quarterly;
provided, however, that the interest rate could increase during
the time that any "Refinanced Debt" (as defined in the Indenture)
is outstanding, to a rate equal to the highest rate payable on the
Refinanced Debt plus 5%, with one-half of the interest being
payable quarterly in cash and the other half being paid-in-kind in
the form of an addition to the principal amount of the Notes.
Under the Indenture, Morris Publishing may incur Refinanced Debt
within 150 days after March 1, 2010, in order to refinance its
approximately $7.2 million Tranche B Term Loan under its Credit
Agreement dated October 15, 2009.  If Morris Publishing is able to
use available cash or borrowings from a new working capital
facility to immediately repay the entire amount of any Refinanced
Debt, then the interest rate on the New Notes would remain at 10%
payable in cash.

The New Notes are secured by a lien on substantially all of the
assets of Morris Publishing.  The New Notes rank pari passu with
the Tranche B Term Loan and principal payments on the New Notes
and the Tranche B Term Loan will generally be made in proportion
to the amounts outstanding, except that the Tranche B Term Loan
may be paid with Refinanced Debt incurred within 150 days after
March 1, 2010.  The New Notes, and the liens securing the New
Notes, will be subordinated to any senior debt of Morris
Publishing, which may include any Refinanced Debt and a
$10 million working capital facility which may be incurred in the
future.

Under the terms of the Indenture, Morris Publishing generally must
use its monthly positive cash flow to repay any Refinanced Debt,
then any amounts outstanding on a working capital facility, and
then to proportionally redeem the New Notes and, if the Tranche B
Term Loan has not been refinanced, to prepay the Tranche B Term
Loan.  Cash flow payments will not be required if and to the
extent Morris Publishing would not have either $7 million of
available cash or an available working capital facility.

Under certain conditions, the notes may be redeemed at the option
of the issuers.  Upon certain sales or dispositions of assets or
events of loss unless the proceeds are reinvested in accordance
with the Indenture, the issuers must offer to use proceeds to
redeem the Notes.  Upon a change of control of Morris Publishing,
the issuers must offer to repurchase all of the Notes.

The Indenture contains various representations, warranties and
covenants generally consistent with the Indenture for the Old
Notes, including requirements to provide reports and to file
publicly available reports with the United States Securities and
Exchange Commission (unless the SEC will not accept the reports)
and limitations on dividends, indebtedness, liens, transactions
with affiliates and capital expenditures.  In addition, the
Indenture contains financial covenants requiring Morris Publishing
to meet certain financial tests on an on-going basis, including a
total leverage ratio and a cash interest coverage ratio, based
upon the consolidated financial results of Morris Publishing.

A full-text copy of the Indenture is available for free at:

               http://researcharchives.com/t/s?573d

                     About Morris Publishing

Morris Publishing Group, LLC -- dba Albion Shopper, et al. -- is a
privately held media company based in Augusta, Georgia.  Morris
Publishing currently owns and operates 13 daily newspapers as well
as nondaily newspapers, city magazines and free community
publications in the Southeast, Midwest, Southwest and Alaska. The
petition says assets and debts are $100 million to $500 million.

The Company filed for Chapter 11 bankruptcy protection on
January 19, 2010 (Bankr. S.D. Ga. Case No. 10-10134).  James T.
Wilson, Jr., Esq., who has an office in Augusta, GA, is the
Debtor's co-counsel.  Lazard Ltd. is the Debtor's financial
advisor, while Kurtzman Carson Consultants is its claims agent.
The Company listed $100,000,001 to $500,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities.

The Company's affiliates -- Athens Newspapers, LLC, et al. --
filed separate Chapter 11 petitions.

On January 19, 2010, the Debtors filed their joint prepackaged
plan of reorganiation pursuant to Chapter 11 of the Bankruptcy
Code.  The Plan was confirmed by the Bankruptcy Court on
February 17, 2010.  The Debtors emerged from bankruptcy on
March 1, 2010.


MOVIE GALLERY: Proposes Forshey as Special Counsel
--------------------------------------------------
Movie Gallery Inc. and its units ask the Court for authority to
employ Forshey & Prostok, LLP, in Fort Worth, Texas, as special
counsel for the special committee of the Debtors' board of
directors in connection with their Chapter 11 cases.

Kimberly S. Pierro, Esq., at Kutak Rock LLP in Richmond,
Virginia, tells the Court that the Debtors seek to employ Forshey
because of, among other things, the firm's expertise, experience
and knowledge of complex bankruptcy and commercial matters, and
it's ability to respond quickly and efficiently to emergency
hearings and other time-sensitive matters.  Forshey has extensive
experience in complex bankruptcy cases as debtor's counsel, as
creditors' counsel, and as counsel for statutory and ad hoc
committees, Mr. Pierro says.

Prior to the Petition Date, the Special Committee consulted
Forshey to advise it on various issues relating to the financial
circumstances of the Debtors.  Accordingly, Forshey has developed
a working knowledge of the Debtors' prior bankruptcy cases, their
business and operations, and their debt and equity structure.
For this reason, Forshey is well positioned to represent the
Debtors, and particularly the Special Committee, in these
bankruptcy cases, Ms. Pierro points out.

As special counsel to the Debtors' Board of Directors and in
complete coordination with the Debtors' counsel, Sonnenschein
Nath & Rosenthal LLP and Kutak Rock LLP, Forshey will render
these services:

(a) advise the Special Committee in the course of the
     Bankruptcy cases;

(b) assist the Debtors in establishing protocols to be utilized
     by the Debtors' Board of Directors and the Special
     Committee for matters under consideration;

(c) advise the Debtors, the Debtors' Board of Directors and
     the Special Committee as necessary and appropriate with
     respect to their powers and duties as debtors-in-possession
     in the continued management and operation of the Debtors'
     business and properties;

(d) assist the Debtors, the Debtors' Board of Directors and the
     Special Committee as necessary and appropriate in
     fulfilling their fiduciary duties in the bankruptcy
     cases;

(e) where appropriate, prepare pleadings, including motions,
     applications, orders, reports and papers necessary or
     otherwise beneficial to the administration of the Debtors'
     estates;

(f) perform all other necessary, appropriate or otherwise
     beneficial legal services for the Debtors, the Board of
     Directors and the Special Committee in connection with the
     prosecution of the Debtors' Chapter 11 cases.

Ms. Pierro assures the Court that Forshey's services will
complement, and not duplicate, the services to be rendered by
Sonnenschein and Kutak Rock.

For its services, the Debtors propose to pay Forshey based on the
firm's hourly rates plus reimbursement of reasonable necessary
out-of-pocket expenses Forshey incurred in representing the
Debtors in the Bankruptcy cases.

Forshey's hourly rates are:

Professional                             Hourly Rate
------------                             -----------
Partners                                $225 to $375
Associates                              $195 to $375
Paraprofessionals                       $100 to $175
Jeff P Prostok, Esq.                            $475
J. Robert Forshey, Esq.                         $475
Blake Berryman, Esq.                            $375
Lynda L. Lankford, Esq.                         $350

Prior to the Petition Date, Forshey received a $25,000 retainer
from the Debtors.  Forshey provided to the Debtors prepetition
legal services and has applied charges for fees and expenses for
those prepetition services against the Retainer.  The balance of
the Retainer will be held in Forshey's trust account pending
further order of the Court.  Additionally, the Debtors did not
owe Forshey for legal services rendered prepetition, Mr. Pierro
points out.

Jeff P. Prostok, Esq., a partner of Forshey & Prostok, LLP, in
Fort Worth, Texas, assures the Court that his firm does not hold
or represent an interest adverse to the Debtors or their estates,
and Forshey is a "disinterested person" within the meaning of
Section 101(14) of the Bankruptcy Code.

Ms. Pierro informs the Court that a separate notice for the
hearing to consider the motion will be given separately.

                        About Movie Gallery

Based in Wilsonville, Ore., Movie Gallery, Inc. is the second
largest North American video and game rental company, operating
stores in the U.S. and Canada under the Movie Gallery, Hollywood
Video and Game Crazy brands.

Movie Gallery first filed for Chapter 11 on Oct. 16, 2007 (Bankr.
E.D. Va. Case Nos. 07-33849 to 07-33853).  Kirkland & Ellis LLP
and Kutak Rock LLP represented the Debtors.  The Company emerged
from bankruptcy on May 20, 2008, with private-investment firms
Sopris Capital Advisors LLC and Aspen Advisors LLC as its
principal owners.  William Kaye was appointed plan administrator
and litigation trustee.

Movie Gallery returned to Chapter 11 protection on February 3,
2009 (Bankr. E.D. Va. Case No. 10-30696).  Attorneys at
Sonnenschein Nath & Rosenthal LLP and Kutak Rock LLP represent the
Debtors in their second restructuring effort.  Kurtzman Carson
Consultants serves as claims and notice agent.

Bankruptcy Creditors' Service, Inc., publishes Movie Gallery
Bankruptcy News.  The newsletter tracks the Chapter
11 proceeding undertaken by Movie Gallery Inc. and affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


MOVIE GALLERY: Proposes to Employ BPM as Auditors
-------------------------------------------------
Movie Gallery Inc. and its units seek the Court's authority to
employ Burr, Pilger & Mayer, Inc., as their independent auditors,
nunc pro tunc to the Petition Date.

Jeremy S. Williams, Esq., at Kutak Rock LLP in Richmond,
Virginia, tells the Court that the Debtors have employed BPM
previously to provide audit services.  In connection with its
previous employment with the Debtors, BPM has garnered
considerable knowledge concerning the Debtors and is already
familiar with the Debtors' business affairs to the extent
necessary for the scope of the proposed anticipated services.

The Debtors intend to obtain quality audit services as it does in
the regular course of its business and must continue to obtain
these services in order to ensure an efficient and successful
conclusion of their Chapter 11 cases, Mr. Williams says.  Because
of BPM's extensive experience in this area as well as its
expansive knowledge of the Debtors' business, the Debtors believe
that BPM is qualified to assist them in this regard, Mr. Williams
maintains.

As independent auditors, BPM is expected to:

(1) Obtain an understanding of the Debtors and its environment,
     including internal control, sufficient to plan the audit
     and to determine the nature, timing, and extent of audit
     procedures to be performed;

(2) Communicate in writing to the Debtors' audit committee and
     management any significant deficiencies or material
     weaknesses relating to internal control identified while
     performing the audit;

(3) Communicate with the Debtors' audit committee about
     certain matters related to BPM's audit which includes,
     among other (a) BPM's audit responsibility under generally
     accepted auditing standards, (b) information relating to
     BPM's independence with respect to the Debtors, (c) the
     Debtors' accounting policies, (d) the quality of the
     Debtors' accounting principles, (e) management's judgments
     and sensitive accounting estimates and any significant
     difficulties encountered during the audit; an

(4) Ensure that the audit committee receives copies of certain
     written communications between BPM and the management,
     including accounting, auditing, internal control, or other
     matters.

BPM's services is expected to be done within the period from
February 2010 to May 2010.  For its services, the Debtors propose
to pay BPM on a monthly basis plus reimbursement of its
reasonable necessary out-of-pocket expenses incurred in
connection with the Debtors' Chapter 11 cases.

BPM's monthly rates are:

Month                        Rate
-----                        ----
February                 $250,000
March                    $225,000
April                    $200,000
May                      $160,000

Michael Benjamin, a shareholder of BPM assures the Court that his
firm is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code and does not hold or represent an
interest adverse to the Debtors' estates.

Further, Mr. Benjamin discloses that during the 90 days
immediately preceding the Petition Date, the Debtors paid to BPM
retainers and fees totaling $380,500.

                        About Movie Gallery

Based in Wilsonville, Ore., Movie Gallery, Inc. is the second
largest North American video and game rental company, operating
stores in the U.S. and Canada under the Movie Gallery, Hollywood
Video and Game Crazy brands.

Movie Gallery first filed for Chapter 11 on Oct. 16, 2007 (Bankr.
E.D. Va. Case Nos. 07-33849 to 07-33853).  Kirkland & Ellis LLP
and Kutak Rock LLP represented the Debtors.  The Company emerged
from bankruptcy on May 20, 2008, with private-investment firms
Sopris Capital Advisors LLC and Aspen Advisors LLC as its
principal owners.  William Kaye was appointed plan administrator
and litigation trustee.

Movie Gallery returned to Chapter 11 protection on February 3,
2009 (Bankr. E.D. Va. Case No. 10-30696).  Attorneys at
Sonnenschein Nath & Rosenthal LLP and Kutak Rock LLP represent the
Debtors in their second restructuring effort.  Kurtzman Carson
Consultants serves as claims and notice agent.

Bankruptcy Creditors' Service, Inc., publishes Movie Gallery
Bankruptcy News.  The newsletter tracks the Chapter
11 proceeding undertaken by Movie Gallery Inc. and affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


MOVIE GALLERY: Wilmington Trust Opposes Moelis' $4.5MM Fee
----------------------------------------------------------
Wilmington Trust Company, in its capacity as administrative
agent to the prepetition lenders, asks the Court to decline
approval of debtor Movie Gallery Inc.'s request to employ Moelis &
Company as investment bankers and financial advisor.

Wilmington objects to the Debtors' proposal to pay Moelis a
$4.5 million Restructuring Fee, virtually without regard to the
level of services provided by Moelis, the value generated by its
services, or the overall results achieved in the Debtors' Chapter
11 cases.

According to Jennifer M. McLemore, Esq., at Christian & Barton,
L.L.P., in Richmond, Virginia, the Application does not propose
any metrics by which any purported reorganization, restructuring,
or even liquidation should be measured.  In effect, Moelis would
be paid a substantial fee merely as a consequence of the passage
of time, Wilmington Trust complains.

                        About Movie Gallery

Based in Wilsonville, Ore., Movie Gallery, Inc. is the second
largest North American video and game rental company, operating
stores in the U.S. and Canada under the Movie Gallery, Hollywood
Video and Game Crazy brands.

Movie Gallery first filed for Chapter 11 on Oct. 16, 2007 (Bankr.
E.D. Va. Case Nos. 07-33849 to 07-33853).  Kirkland & Ellis LLP
and Kutak Rock LLP represented the Debtors.  The Company emerged
from bankruptcy on May 20, 2008, with private-investment firms
Sopris Capital Advisors LLC and Aspen Advisors LLC as its
principal owners.  William Kaye was appointed plan administrator
and litigation trustee.

Movie Gallery returned to Chapter 11 protection on February 3,
2009 (Bankr. E.D. Va. Case No. 10-30696).  Attorneys at
Sonnenschein Nath & Rosenthal LLP and Kutak Rock LLP represent the
Debtors in their second restructuring effort.  Kurtzman Carson
Consultants serves as claims and notice agent.

Bankruptcy Creditors' Service, Inc., publishes Movie Gallery
Bankruptcy News.  The newsletter tracks the Chapter
11 proceeding undertaken by Movie Gallery Inc. and affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)



MSJ INVESTMENT: Files List of 20 Largest Unsecured Creditors
------------------------------------------------------------
MSJ Investment Properties, L.L.C., has filed with the U.S.
Bankruptcy Court for the District of Arizona a list of its 20
largest unsecured creditors.

A full-text copy of the Debtor's list of creditors is available
for free at http://bankrupt.com/misc/azb10-03643.pdf

Oro Valley, Arizona-based MSJ Investment Properties, L.L.C., filed
for Chapter 11 bankruptcy protection on February 12, 2010 (Bankr.
D. Ariz. Case No. 10-03643).  Scott D. Gibson, Esq., at Gibson,
Nakamura & Green, PLLC, assists the Company in its restructuring
effort.  The Company estimated its assets and liabilities at
$1,000,001 to $100,000,000.


MSJ INVESTMENT: Gets OK to Hire Gibson Nakamura as Bankr. Counsel
-----------------------------------------------------------------
MSJ Investment Properties, L.L.C., sought and obtained permission
from the Hon. James M. Marlar of the U.S. Bankruptcy Court for the
District of Arizona to employ Gibson, Nakamura & Green, P.L.L.C.,
as bankruptcy counsel.

GNG will:

     (a) give the Debtor legal advice with respect to its powers
         and duties as a debtor in the continued operation of its
         business and management of its property;

     (b) prepare on behalf of the Debtor necessary applications,
         notices, answers, orders, reports and other legal papers;

     (c) assist the Debtor in the negotiation of a plan of
         Reorganization satisfactory to creditors and parties-in-
         interest and to prepare a disclosure statement which will
         be submitted to creditors and parties-in-interest after
         it has been approved by the Court; and

     (d) perform other legal services for the Debtor that may be
         necessary in the Debtor's case.

GNG has agreed to represent the Debtor at its normal rates and
will also receive reimbursement for out-of-pocket expenses.  GNG
has received a retainer, pre-petition, from unencumbered funds of
the Debtor and co-debtor P&G Investment Properties, Inc., in the
amount of $38,380.50.

The Debtor assured the Court that GNG is "disinterested" as that
term is defined in Section 101(14) of the Bankruptcy Code.

Oro Valley, Arizona-based MSJ Investment Properties, L.L.C., filed
for Chapter 11 bankruptcy protection on February 12, 2010 (Bankr.
D. Ariz. Case No. 10-03643).  Scott D. Gibson, Esq., at Gibson,
Nakamura & Green, PLLC, assists the Company in its restructuring
effort.  The Company estimated its assets and debts at $1,000,001
to $100,000,000.


MSJ INVESTMENT: Schedules Filing Deadline Extended Until March 15
-----------------------------------------------------------------
The Hon. James M. Marlar of the U.S. Bankruptcy Court for the
District of Arizona has extended, at the behest of MSJ Investment
Properties, LLC, and P&G Investment Properties, Inc., the filing
of schedules of assets and liabilities and statement of financial
affairs until March 15, 2010.

The Debtors said that they need additional time to compile the
financial information necessary to complete their schedules and
statements of financial affairs.

Oro Valley, Arizona-based MSJ Investment Properties, L.L.C., filed
for Chapter 11 bankruptcy protection on February 12, 2010 (Bankr.
D. Ariz. Case No. 10-03643).  Scott D. Gibson, Esq., at Gibson,
Nakamura & Green, PLLC, assists the Company in its restructuring
effort.  The Company estimated its assets and debts at $1,000,001
to $100,000,000.


MSJ INVESTMENT: Section 341(a) Meeting Scheduled for March 25
-------------------------------------------------------------
The U.S. Trustee for Region 14 will convene a meeting of creditors
in MSJ Investment Properties, L.L.C.'s Chapter 11 case on
March 25, 2010, at 1:00 p.m.  The meeting will be held at James A.
Walsh Courthouse, 38 S. Scott Avenue, Suite 140, Tucson, AZ.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Oro Valley, Arizona-based MSJ Investment Properties, L.L.C., filed
for Chapter 11 bankruptcy protection on February 12, 2010 (Bankr.
D. Ariz. Case No. 10-03643).  Scott D. Gibson, Esq., at Gibson,
Nakamura & Green, PLLC, assists the Company in its restructuring
effort.  The Company estimated its assets and debts at $1,000,001
to $100,000,000.


MULTIPLAN INC: S&P Assigns 'B+' Rating on $315 Mil. Senior Loan
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B+'
issue-level rating on MultiPlan Inc.'s planned $315 million senior
secured incremental term loan.  S&P also assigned a recovery
rating of '3' on the term loan, indicating S&P's expectation for
meaningful (50%-70%) recovery for lenders in the event of a
payment default.

At the same time, S&P affirmed all of its other ratings on
MultiPlan, including the 'B+' counterparty credit rating.

The rating on MultiPlan reflects its leading niche market position
in the U.S. health care cost-management industry, good earnings
profile underscored by stable cash flows generated primarily from
fee income, and improved scale and diversification via the pending
Viant acquisition and already completed PHCS integration.
Offsetting these strengths are the company's integration risks
associated with the pending Viant acquisition, significant debt
leverage (despite continued debt reduction), a large amount of
intangibles on the balance sheet, limited overall product scope,
and several key client concentrations.

"S&P does not expect pro forma debt leverage to increase
significantly as a result of this transaction because MultiPlan
will use net proceeds from the proposed $315 million incremental
term loan primarily to repay Viant's senior secured bank debt, of
which $265 million was outstanding as of Dec. 31, 2009," said
Standard & Poor's credit analyst James Sung.

After the transaction closes, S&P likely will raise its
counterparty credit rating on Viant to 'B+' (to the same level as
MultiPlan) from 'B'.  At the same time, S&P plans to raise the
issue-level rating on Viant's senior subordinated notes to 'B-'
from 'CCC+' and remove it from CreditWatch, to reflect standard
notching from the counterparty credit rating based on the '6'
recovery rating on the notes.  S&P also will withdraw its issue-
level and recovery ratings on Viant's senior secured credit
facilities because they will be repaid.


NATIONAL CONSUMER: S&P Cuts Counterparty Credit Rating to 'B/C'
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its
ratings on National Consumer Cooperative Bank, including the
counterparty credit rating to 'B/C' from 'BB-/B'.  At the same
time, S&P removed the ratings from CreditWatch Negative, where
they were placed Aug. 24, 2009.  The outlook is negative.  S&P's
'AAA' rating on debt issued by NCB and its indirect thrift
subsidiary NCB FSB under the Temporary Liquidity Guarantee Program
is unaffected by this rating action.

"The rating action reflects NCB's reduced financial flexibility,
as management works to repay debt outstanding on two parent-
company credit facilities," said Standard & Poor's credit analyst
Rian M. Pressman, CFA.  On Feb. 23, 2010, NCB entered into
amendments with its lenders to facilitate the repayment of the
remaining $98 million balance.  Although the final maturity was
extended to Dec. 15, 2010, significant quarterly repayments must
be made in the interim.

The higher debt cost associated with credit facility borrowings
(post-amendment interest rate of 13.5% on both facilities),
contractual limitations on new lending and borrowing by the parent
company, and the almost $24 million amortization payment due on
the Class A notes before year-end constrain NCB's financial
flexibility.  (These notes are owed to the U.S. Treasury.)

NCB intends to repay these obligations by either refinancing with
another borrowing group or using existing cash balances and
incremental loan sales.  S&P's negative outlook reflects the
uncertainties associated with the company's funding strategy
because its success depends largely on outside financiers and/or
secondary market appetite for loans.

Since the latter half of 2009, NCB has liquidated a portion of its
loan portfolio, repaying about $179 million of debt.  Although
these sales were largely executed at or near par, similar
execution may be more difficult to achieve, especially given what
are presumably less-saleable assets.  The volume of resources
available at the parent company to facilitate these payments,
including cash balances of approximately $60 million and
unencumbered loans of approximately $300 million, partially
offsets S&P's concern.

The negative outlook reflects the execution risk associated with
the repayment of parent-company debt obligations in the short-to-
medium term.  If S&P believes NCB will be unable to successfully
repay maturing obligations, S&P could lower the rating by more
than one notch.  A stable outlook may result from successful
repayment of these obligations.


NATIONAL GOLD: Bank to Liquidate Assets Under Chapter 7
-------------------------------------------------------
Michael Sasso at The Tampa Tribune reported that a federal judge
converted the Chapter 11 case of National Gold Exchange to Chapter
7 liquidation proceeding, paving way for the company's chief
creditor Sovereign Bank to liquidate the assets including million
of dollars in gold and rare coins.

Tampa, Florida-based National Gold Exchange, Inc., operates a gold
and silver rare coin wholesaler.  The Company filed for Chapter 11
bankruptcy protection on July 24, 2009 (Bankr. M.D. Fla. Case No.
09-15972).  Richard J. McIntyre, Esq., at McIntyre, Panzarella,
Thanasides & Eleff, assists the Company in its restructuring
effort.  The Company listed $10,000,001 to $50,000,000 in assets
and $50,000,001 to $100,000,000 in debts.


NEW CENTURY: Reports $21.3 Million Net Loss in Q3 2009
------------------------------------------------------
New Century Companies, Inc., filed its quarterly on Form 10-Q,
showing a net loss of $21.3 million on $644,609 of revenue for the
three months ended September 30, 2009, compared with a net loss of
$1.9 million on $997,890 of revenue for the same period of 2008.
The Company's balance sheet as of September 30, 2009, showed
$1.1 million in assets and $30.1 million of debts, for a
stockholders' deficit of $28.9 million.

As of September 30, 2009, the Company has an accumulated deficit
of approximately $37.1 million, had recurring losses, a working
capital deficit of approximately $29.2 million, and was also in
default on its convertible notes.  "These factors raise
substantial doubt about the Company's ability to continue as a
going concern."

A full-text copy of the quarterly report is available for free at:

               http://researcharchives.com/t/s?5744

Santa Fe Springs, Calif.-based New Century Companies, Inc. and its
wholly owned subsidiary, New Century Remanufacturing, Inc.,
provides after-market services, including rebuilding, retrofitting
and remanufacturing of metal cutting machinery.


NEW LUXURY MOTORS: Court Denies GMAC Bid to Transfer Case Venue
---------------------------------------------------------------
netDockets says Judge Letitia Z. Paul of the U.S. Bankruptcy Court
for the Southern District of Texas entered an opinion and order
last week denying a bid by GMAC Inc. and MB Financial Bank, N.A.,
to transfer the bankruptcy cases of New Luxury Motors, LLC, and
four affiliates to the U.S. Bankruptcy Court for the Northern
District of Illinois.

According to netDockets, Judge Paul held that venue was proper
because Houston is the principal place of business of the parent
company.

netDocket says GMAC and MB assert that "Houston is not the
principal place of business or the location of the principal
assets of [the] Debtors."  Even if Houston were the Debtors'
principal place of business -- making venue appropriate pursuant
to 28 U.S.C. Section 1408 -- GMAC and MB asserted that Houston was
an inconvenient venue and that the cases should still be
transferred to Chicago in the interest of justice and convenience.

netDockets notes that parent debtor New Luxury Motors, LLC, is
headquartered in Houston, but none of the Debtors' current
dealerships are located there.  According to netDockets, "all of
the Debtors are managed from Houston and the nexus of the
operations for all Debtors are in Houston."

According to netDockets, GMAC is the largest secured creditor of
the debtors and holds a security interest in "all of the personal
assets of the three Debtors that operate motor vehicle dealerships
and asserts a security interest in intellectual property owned by"
one of the other debtors, New Luxury IP, LLC.  netDockets says MB
claims a security interest in the property on which the
Chicago/Franklin Park dealership is located and the monthly lease
payments that the relevant debtor makes for use of the property.

Judge Paul also rejected the claims that the cases should be
transferred for convenience of the parties, stating that "GMAC has
not shown that the economic and efficient administration of these
estates would be promoted by transferring the cases to the
Northern District of Illinois."

New Luxury Motors, LLC and its affiliates operate a Web site --
http://www.luxurymotors.com/-- and three car dealerships selling
high-end luxury vehicles and Infiniti automobiles.  The three
dealerships are New Luxury Motors of Las Vegas, NV; New Luxury
Motors of Chicago/Franklin Park, IL; Infiniti of Oakland, CA.

New Luxury Motors II LLC filed for bankruptcy on February 1, 2010
(Bankr. S.D. Tex. Case No. 10-30838), disclosing assets from
10,000,000 to 100,000,000.


NEWLEAD HOLDINGS: Net Loss Widens to $163.6-Mil. in 2009
--------------------------------------------------------
NewLead Holdings Ltd. said for the quarter ended December 31,
2009, total revenues from continuing operations increased by 11.1%
to $15.9 million compared to total revenues of $14.3 million
recorded for the quarter ended December 31, 2008.

Net loss from continuing operations was $36.9 million for the
quarter ended December 31, 2009, compared to a net loss of
$10.0 million, recorded for the quarter ended December 31, 2008.
The results for the fourth quarter of 2009 reflect significantly
lower net revenues generated for the product tankers in the spot
market as well as increased operating expenses and also include
higher interest expenses of roughly $20.1 million as a result of
the Company's recapitalization during the quarter and is primarily
attributable to the 7% senior convertible notes which included a
$17.0 million non-cash charge from the amortization of the
beneficial conversion feature embedded in the 7% notes.
Furthermore, the results for the fourth quarter of 2009 included
transaction costs of $9.7 million relating to the
recapitalization, as well as, a $4.2 million non-cash gain from
the change in the fair value of derivatives.  The results for the
same period of 2008 included a $5.8 million non-cash loss from the
change in the fair value of derivatives.

The net loss for the quarter ended December 31, 2009 and 2008 was
$39.9 million and $42.4 million respectively.  These include
losses from discontinued operations of $3.0 million in 2009 and
$32.5 million in 2008, which were primarily related to the
Company's exit from the container market.

The Company said for the 12 months ended December 31, 2009, total
revenues from continuing operations decreased by 15.6% to
$47.7 million, compared to total revenues of $56.5 million for the
12 months ended December 31, 2008.

Net loss from continuing operations was $131.3 million for the 12
months ended December 31, 2009, compared to a net loss of $16.6
million, recorded for the 12 months ended December 31, 2008.
Besides the significantly lower net revenues generated for the
product tankers in the spot market and increased operating
expenses, the results for the 12 months ended December 31, 2009,
reflect a $68.0 million vessel impairment charge, a $3.7 million
provision for charter claims, as well as, higher interest expenses
of roughly $19.2 million as consequence of the company's
recapitalization during the quarter and primarily attributable to
the 7% senior convertible notes which included a $17.0 million
non-cash charge from the amortization of the beneficial conversion
feature embedded in the notes.  Furthermore, the results for 2009
also include transaction costs of $12.4 million associated with
the recapitalization and $5.6 million non-cash gain from the
change in the fair value of derivatives. The results for the same
period of 2008 included a $6.5 million non-cash loss from the
change in the fair value of derivatives.

The net loss for the year ended December 31, 2009 and 2008 was
$163.6 million and $39.8 million, respectively.  These include
losses from discontinued operations of $32.3 million in 2009 and
$23.3 million in 2008, which primarily relate to the Company's
exit from the container market.

At December 31, 2009, the Company had total assets of
$399.285 million against total liabilities of $326.809 million.
The Company had accumulated deficit of $37.872 million and
shareholders' equity of $72.476 million.

NewLead had a positive working capital position of roughly
$67.2 million, reflecting $106.3 million cash and cash equivalents
as of December 31, 2009 compared with a negative working capital
position of roughly $231.7 million as of December 31, 2008.  Total
Debt amounted to $278.7 million for the period ending December 31,
2009, compared to $223.7 million as of December 31, 2008.  The
long term portion of the debt amounted to $223.0 million for the
period ended December 31, 2009 compared to nil as of December 31,
2008.  In 2008, the debt of $223.7 million was classified under
short term debt due to violation of certain covenants of the
credit facility, which has subsequently refinanced as part of the
recent recapitalization.

A full-text copy of the Company's earnings release is available at
no charge at http://ResearchArchives.com/t/s?578f

                       Going Concern Doubt

During the three months ended September 30, 2009, and 2008, the
Company incurred a net loss of $111.3 million and a net loss of
$4.3 million, respectively, and for the nine months ended
September 30, 2009 and 2008, the Company incurred a net loss of
$123.8 million and a gain of $2.0 million, respectively.  As of
September 30, 2009, the Company reported working capital deficit
of $244.4 million, which includes $221.4 million of debt reflected
as current.

During the nine months ended September 30, 2009, and for the year
ended December 31, 2008, the Company was not in compliance with
certain covenants of its loan facility and absent any further
relaxation from the lenders, the lenders had the ability to demand
repayment of outstanding borrowings.  The $221.4 million facility
agreement, dated October 13, 2009, entered into by the Company to
refinance the Company's existing revolving credit facility
provided for the waiver of all financial covenants (excluding
working capital and minimum liquidity covenants) for a period
ranging from 30 to 36 months.  The conditions and events raise
substantial doubt about the Company's ability to continue as a
going concern.

                      About NewLead Holdings

Headquartered in Piraeus, Greece, NewLead Holdings Ltd. (Nasdaq:
NEWL) -- http://www.newleadholdings.com/-- was incorporated on
January 12, 2005, under the name of "Aires Maritime Holdings
Limited.  The Company is an international shipping company that
owns and operates product tanker and dry bulk vessels.  The
Company's products tanker fleet consists of five MR tankers and
four Panamax tankers, all of which are double-hulled.  The Company
also owns three dry bulk vessels secured on period charters.

The Company is an indirect subsidiary of Aries Energy Corporation.
Aries Energy, an affiliate through its wholly-owned subsidiary
Rocket Marine Inc., currently owns approximately 23% of the
Company's outstanding common shares.

On October 13, 2009, the Company announced an approximately
$400.0 million recapitalization which resulted in Grandunion Inc.
acquiring control of the Company.  Pursuant to the Stock Purchase
Agreement entered into on September 16, 2009, a company controlled
by Michail S. Zolotas and Nicholas G. Fistes, acquired 18,977,778
newly issued common shares of the Company in exchange for three
drybulk carriers.


NGTV: Section 341(a) Meeting Scheduled for April 1
--------------------------------------------------
The U.S. Trustee for Region 16 will convene a meeting of creditors
in NGTV's Chapter 11 case on April 1, 2010, at 2:00 p.m.  The
meeting will be held at 725 S Figueroa Street, Room 2610, Los
Angeles, CA 90017.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Beverly Hills, California-based NGTV, a California corporation,
filed for Chatper 11 bankruptcy protection on February 25, 2010
(Bankr. C.C. Calif. Case No. 10-16897).  Sandford Frey, Esq., who
has an office in Los Angeles, California, assists the Company in
its restructuring effort.  The Company listed $1,000,001 to
$10,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


NICOLAS MARSCH: Section 341(a) Meeting Scheduled for March 23
-------------------------------------------------------------
The U.S. Trustee for Region 15 will convene a meeting of creditors
in Nicolas Marsch III's Chapter 11 case on March 23, 2010, at
11:00 a.m.  The meeting will be held at Sixth Floor, Suite 630,
402 W. Broadway, San Diego, CA 92101-8511.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Rancho Santa Fe, California-based Nicolas Marsch, III, filed for
Chapter 11 bankruptcy protection on February 25, 2010 (Bankr. S.D.
Calif. Case No. 10-02939).  Jeffry A. Davis, Esq., at Mintz Levin
Cohn Ferris Glovsky & Popeo, assists the Company in its
restructuring effort.  The Company listed $100,000,001 to
$500,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


NIKITAS FAMILY: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Nikitas Family Inns, Inc.
          dba Dol-Fin Realty Trust
        149 Main Street
        Kingston, MA 02364

Bankruptcy Case No.: 10-12263

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       District of Massachusetts (Boston)

Judge: Henry J. Boroff

Debtor's Counsel: Frank D. Kirby, Esq.
                  Law Offices of Frank D. Kirby
                  5 Pleasant Street, 5th floor
                  Worcester, MA 01609
                  Tel: (617) 388-9278
                  Fax: (508) 798-0027
                  Email: frank@fkirbyesq.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Nicholas M. Nikitas, president of the
Company.

Debtor-affiliate that filed separate Chapter 11 petition March 2,
2010:

    Debtor                                Case No.
    ------                                --------
The Nikitas Inn of Kingston, Inc.         10-12192


NO 1 CONTRACTING: Files for Chapter 11 in Pennsylvania
------------------------------------------------------
Bob Kalinowski, staff writer at Citizens Voice reports that
No. 1 Contracting Corp. filed for Chapter 11 protection in the
U.S. Bankruptcy Court for the Middle District of Pennsylvania,
listing assets of less than $50,000, and liabilities of between
$1 million and $10 million.  Ashley-based No. 1 Contracting is a
heavy construction company founded in 1960.


NORTEL NETWORKS: Proposes Deal With Ex-Canadian Workers
-------------------------------------------------------
Nortel Networks Corporation and its Canadian debtor affiliates
ask the Ontario Superior Court of Justice to approve a settlement
agreement with their former Canadian Nortel employees.

The Settlement was hammered out to settle employment-related
matters, including the CCAA Applicants' Canadian registered
pension plans and benefits for Canadian pensioners and Nortel
employees on long term disability.

Under the deal, the CCAA Applicants agreed to continue to
administer the Nortel Networks Negotiated Pension Plan and the
Nortel Networks Limited Managerial and Non-Negotiated Pension
Plan through September 30, 2010.  After that date, the Pension
Plans will be transitioned to a new administrator appointed by
the Superintendent of Financial Services.

The CCAA Applicants are required to continue to fund the Pension
Plans through March 31, 2010, and thereafter will make current
service payments through September 30, 2010.

For the remainder of 2010, the CCAA Applicants will continue to
pay medical and dental benefits to Nortel pensioners and
survivors and Nortel LTD beneficiaries.  Life insurance benefits
will continue unchanged until December 31, 2010, and will continue
to be funded.

Furthermore, the CCAA Applicants will pay income benefits to the
LTD beneficiaries and to those receiving survivor income benefits
and survivor transition benefits through December 31, 2010, which
payments will be made directly by Nortel.  The employment of the
LTD beneficiaries will terminate on December 31, 2010.

Under the Settlement Agreement, the CCAA Applicants are also
required to establish a C$4.2 million fund for termination
payments of up to C$3,000 per employee to be made to eligible
terminated employees as an advance against their claims under the
Companies' Creditors Arrangement Act.

Earlier, the CCAA Applicants sought and obtained approval of a
service and notice process in connection with the proposed
settlement.  A full-text copy of the document detailing the
process is available at http://researcharchives.com/t/s?5551

Ernst & Young Inc., the firm appointed to monitor the assets of
the CCAA Applicants, expressed support for the approval of the
Settlement Agreement and the implementation of the notice
procedures.

Under its 36th and 39th Monitor Reports, Ernst & Young
acknowledged that the Settlement represents a fair balancing of
the interests of Nortel's stakeholders while the notice process
gives the affected parties opportunity to review the terms of the
Settlement.

The Canadian Court will hold a hearing on March 3, 2010, to
consider approval of the Settlement Agreement.

                       About Nortel Networks

Nortel Networks (OTCBB:NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

Bankruptcy Creditors' Service, Inc., publishes Nortel Networks
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
and ancillary foreign proceedings undertaken by Nortel Networks
Corp. and its various affiliates.  (http://bankrupt.com/newsstand/
or 215/945-7000)


NORTHCORE TECHNOLOGIES: Posts C$610,000 Net Loss in Q3 2009
-----------------------------------------------------------
Northcore Technologies Inc. filed its third quarter 2009 report as
an exhibit to its Form 6-K for the month of November, 2009,
showing a net loss of C$610,000 on C$213,000 of revenue for the
three months ended September 30, 2009, compared with a net loss of
C$536,000 on C$200,000 of revenue for the same period of 2008.

The Company's balance sheet as of September 30, 2009, showed
C$1.5 million in assets and of C1.7 million of debts, for a
stockholders' deficit of C$228,000.

The Company has not yet realized profitable operations and has
relied on non-operational sources of financing to fund operations.
"The Company's ability to continue as a going concern will be
dependent on management's ability to successfully execute its
business plan including a substantial increase in revenue as well
as maintaining operating expenses at or near the same level as
2008.  The Company cannot provide assurance that it will be able
to execute on its business plan or assure that efforts to raise
additional financings would be successful."

A full-text copy of the third quarter report report is available
for free at http://researcharchives.com/t/s?5793

Toronto, Ontario-based Northcore Technologies Inc. (TSX: NTI; OTC
BB: NTLNF) -- http://www.northcore.com/-- is a global provider of
asset management technology solutions.  Its Working Capital
Engine(TM) helps organizations source, manage, appraise and sell
their capital equipment.  Northcore owns 50 percent of GE Asset
Manager, LLC, a joint business venture with GE.


NORTHWEST BOULEVARD: Case Summary & 2 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Northwest Boulevard Properties, LLC
        4041 E. Sky Harbor Drive
        Coeur D Alene, ID 83814

Bankruptcy Case No.: 10-20192

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       District of Idaho [LIVE] (Coeur dAlene)

Judge: Chief Judge Terry L. Myers

Debtor's Counsel: Bruce A. Anderson, Esq.
                  1400 Northwood Ctr Ct #C
                  Coeur d'Alene, ID 83814
                  Tel: (208) 667-2900
                  Fax: (208) 667-2150
                  Email: baafiling@ejame.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $2,894,992
and total debts of $1,778,556.

A full-text copy of the Debtor's petition, including a list of its
2 largest unsecured creditors, is available for free at:

             http://bankrupt.com/misc/idb10-20192.pdf

The petition was signed by William Koll.


ORBITAL SCIENCES: Moody's Retains 'Ba1' Corporate Family Rating
---------------------------------------------------------------
Moody's Investors Service said Orbital Sciences Corporation's Ba1
corporate family and Baa3 bank facility ratings are not affected
by the announcement to purchase the satellite and manufacturing
business of GD Advanced Information Systems, a subsidiary of
General Dynamics Corporation, for $55 million in cash.  The
outlook remains stable.

The last rating action on Orbital was on October 12, 2007, at
which time its corporate family and probability of default ratings
were upgraded to Ba1 from Ba2.

Orbital Sciences Corporation, headquartered in Dulles, Virginia,
manufactures small space and missile systems for commercial, civil
government and military customers.  The company had revenue of
$1,125 million in 2009.


OZBURN-HESSEY HOLDING: S&P Affirms 'B' Corporate Credit Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed the ratings on Ozburn-
Hessey Holding Co. LLC, including the 'B' long-term corporate
credit rating.  S&P also revised the outlook to negative from
stable.  At the same time, S&P assigned a 'B' rating to the
company's new $380 million senior secured credit facility, as well
as a '3' recovery rating, indicating meaningful (50%-70%) recovery
of principal in a payment default scenario.

S&P affirmed the ratings based on stable industry fundamentals in
the third-party logistics segment, as well as OHL's relatively
stable mix of end markets (consumer, food and beverage, and health
care account for more than 60% of 2009 gross revenues).  Still,
the outlook revision to negative from stable reflects increased
debt leverage resulting from OHL's consolidation of certain more
cyclical international operations that provide global freight
management and logistics services.  Pro forma for the proposed
transaction to combine its foreign subsidiaries under Ozburn-
Hessey Holding Co. LLC, credit measures are stretched for the
rating and further earnings pressures could reduce covenant
cushion and constrain liquidity.

S&P expects demand for domestic third-party logistics to remain
fairly healthy over the near term, given good industry
fundamentals.  However, S&P expects credit metrics to remain
stretched, given incremental leverage from the addition of OHL's
more cyclical international operations.  "S&P could lower the
ratings if OHL's access to liquidity becomes constrained under its
current covenants or if funds from operations to total debt
consistently falls into the high-single-digits percent range,"
said Standard & Poor's credit analyst Anita Ogbara.

"Alternatively, S&P could revise the outlook to stable if earnings
improve and credit measures strengthen, resulting in FFO to total
debt consistently in the midteens percent range," she continued.


PACIFIC ETHANOL: Reaches Deals to Satisfy $34.7MM Debt
------------------------------------------------------
Pacific Ethanol, Inc., disclosed agreements designed to satisfy
$34.7 million of the Company's outstanding debt, and to cure
existing defaults on the debt.  Socius CG II, Ltd., has entered
into agreements with the holders of this debt pursuant to which
Socius purchased $5.0 million of the aggregate amount of the debt,
and then settled the resulting $5.0 million owed in exchange for
free-trading shares of the Company's common stock.  Socius intends
to acquire the balance of the debt and engage in further exchanges
until the total debt is completely retired.

"We are pleased to have Socius as a new financial partner as we
pursue our mission to be a leading producer and marketer of low
carbon renewable fuels," said CEO Neil Koehler.  "This transaction
supports our strategy to reduce debt, efficiently operate our
production assets, and lower expenses.  We believe this puts the
Company in a stronger financial position to complete the
reorganization of our ethanol plant subsidiaries currently the
subject of Chapter 11 proceedings."

The holders of the debt, Lyles United LLC and its affiliate Lyles
Mechanical Co. (collectively "Lyles"), have entered into
agreements with Socius under which Lyles has sold $5.0 million of
the aggregate debt owed.  The agreements provide a mechanism
whereby Lyles may sell to Socius, in $5.0 million tranches, up to
the remaining balance of the debt, subject to certain conditions.
The Company intends to enter into further agreements with Socius,
each of which will be announced as it occurs.  The first tranche
and each succeeding tranche will be settled in exchange for free-
trading shares of the Company's common stock valued at a 20
percent discount to the volume weighted average price of the
Company's common stock over the 5-day trading period immediately
following the date on which the shares are first issued.  In no
event will the aggregate number of shares of common stock issued
to Socius in connection with any settlement exceed 9.99% of the
total number of shares of the Company's common then outstanding.

Details of the agreements with Socius and Lyles and the Company's
issuance of common stock to Socius are set forth in a Current
Report on Form 8-K filed with the SEC today.

                     About Pacific Ethanol

Pacific Ethanol Holding Co. LLC and four affiliates filed for
Chapter 11 on May 17, 2009 (Bankr. D. Del. Case No. 09-11713).
Judge Kevin Gross handles the case.  Attorneys at Cooley Godward
Kronish LLP represent the Debtors as counsel.  Attorneys at Potter
Anderson & Corroon LLP are co-counsel.  Epiq Bankruptcy Solutions
LLC is the claims agent.  Pacific Ethanol Holding disclosed
$50 million to $100 million in assets and $100 million to
$500 million in debts in its petition.

Pacific Ethanol Inc. and its marketing subsidiaries, Kinergy
Marketing LLC, and Pacific Ag. Products, LLC, have not filed for
Chapter 11 bankruptcy protection.  The Company is expected to
continue to manage the Plant Subsidiaries under an Asset
Management Agreement and Kinergy and PAP are expected to continue
to market and sell the Plant Subsidiaries' ethanol and feed
production under existing Marketing Agreements.


PARADISE VILLAGE CAR: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Paradise Village Car Care Centre, Inc.
        15509 N. Scottsdale Road
        Scottsdale, AZ 85254

Bankruptcy Case No.: 10-05805

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Debtor's Counsel: Bert L. Roos, Esq.
                  5045 N. 12th St, Suite B
                  Phoenix, AZ 85014
                  Tel: (602) 242-7869
                  Fax: (602) 242-5975
                  Email: blrpc85015@msn.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Dennis M. Naughton, general counsel of
the Company.


PARLUX FRAGRANCES: Dimensional Fund Holds 7.78% of Common Stock
---------------------------------------------------------------
Dimensional Fund Advisors LP disclosed that as of December 31,
2009, it may be deemed to hold 1,580,603 shares or roughly 7.78%
of the common stock of Parlux Fragrances Inc.

                      About Parlux Fragrances

Parlux Fragrances, Inc. (NASDAQ:PARL) -- http://www.parlux.com/--
is a manufacturer and international distributor of prestige
products.  It holds licenses for Paris Hilton, Jessica Simpson,
GUESS?, Nicole Miller, Josie Natori, Queen Latifah, Marc Ecko,
Rihanna, Kanye West, XOXO, Ocean Pacific (OP), Andy Roddick,
babyGund, and Fred Hayman Beverly Hills designer fragrances, as
well as Paris Hilton watches, cosmetics, sunglasses, handbags and
other small leather accessories.

As of Dec. 31, 2009, the Company has $112.3 million in total
assets and $17.5 million in total liabilities, resulting to
$109.4 million stockholders' equity.

                 Extension of Forbearance Period

As reported in the Troubled Company Reporter, the Company on
October 29, 2009, entered into a Second Amendment to Loan
Agreement and Amendment to Forbearance Agreement with Regions Bank
extending the forbearance period through February 15, 2010, and
calling for the Company to repay the remaining loan balance over
the course of the extension period.  The Second Amendment requires
the Company to continue to comply with certain covenants with
Regions under the Loan Agreement.

As of December 31, 2009, the Company was not in compliance with
its fixed charge coverage and funded debt to EBITDA covenants
under the Loan Agreement, as amended.  As of February 4, 2010, the
Company has $1.1 million in outstanding borrowings under the Loan
Agreement, which was scheduled for repayment on February 15, 2010.

The Company, in its third fiscal quarter report for the period
ended December 31, 2009 -- which report was filed on February 4,
2010 -- said it believes that funds from operations will be
sufficient to meet current operating and seasonal needs through
June 30, 2010.  The Company said it continues to seek replacement
financing with the objective of having a new financing arrangement
in place in anticipation of next year's major production season.


PATRICK WAYNE: Section 341(a) Meeting Scheduled for March 29
------------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of creditors
in Patrick Wayne Neal's Chapter 11 case on March 29, 2010, at
10:00 a.m.  The meeting will be held at Office of the U.S.
Trustee, 1301 Clay Street, Room 680N, Oakland, CA 94612.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Pleasanton, California-based Patrick Wayne Neal, aka Patrick W.
Neal and Patrick Neal, filed for Chapter 11 bankruptcy protection
on February 26, 2010 (Bankr. N.D. Calif. Case No. 10-42153).  Guy
A. Odom, Jr., Esq., at Law Offices of Guy A. Odom Jr., assists the
Company in its restructuring effort.  The Company estimated its
assets and debts at $10,000,001 to $50,000,000.


PENN TRAFFIC: Plan Exclusivity Extended to June 16
--------------------------------------------------
Penn Traffic Co. obtained an extension of its exclusive right to
propose a Chapter 11 plan until June 16.

Tops Markets acquired substantially all of the assets of Penn
Traffic for $85 million.  Tops Markets also agreed to take on
another $70 million in related costs.

Syracuse, New York-based The Penn Traffic Company -- dba P&C
Foods, Bi-Lo Foods, and Quality Markets -- operates supermarkets
in Pennsylvania, upstate New York, Vermont, and New Hampshire
under the Bilo, P&C and Quality trade names.  The Company filed
for Chapter 11 bankruptcy protection on November 18, 2009 (Bankr.
D. Del. Case No. 09-14078).  Ann C. Cordo, Esq., and Gregory W.
Werkheiser, Esq., at Morris, Nichols, Arsht & Tunnell assist the
Company in its restructuring effort.  Donlin Recano is the
Company's claims agent.  The Company listed $150,347,730 in assets
and $136,874,394 in liabilities as of May 4, 2009.

These affiliates also filed separate Chapter 11 petition: Sunrise
Properties, Inc.; Pennway Express, Inc.; Penny Curtiss Baking
Company, Inc.; Big M Supermarkets, Inc.; Commander Foods Inc.; P
and C Food Markets, Inc. of Vermont; and P.T. Development, LLC.


PENTON BUSINESS: Receives Confirmation of Prepack Plan
------------------------------------------------------
Penton Media has received confirmation of its "pre-packaged" plan
of reorganization from the United States Bankruptcy Court for the
Southern District of New York.  The Court's ruling allows Penton
to implement the capital restructuring the Company announced on
February 9.  Penton expects to emerge from Chapter 11 within the
next few days with a healthier balance sheet.

The capital restructuring will result in the elimination of more
than $270 million of long-term debt and an extension of the
maturity on the Company's senior secured credit facility through
2014.  In addition, certain of Penton's existing shareholders will
make a significant new investment in the Company, which will
provide additional working capital to fund operations and improve
Penton's overall liquidity.

"This capital restructuring puts us in a much stronger financial
position," said Sharon Rowlands, Chief Executive Officer of
Penton.  "In addition to improving our balance sheet, it will
allow us to utilize our resources to make the necessary
investments to grow our business and achieve our long term vision
for the organization."

Penton obtained confirmation of the Plan less than a month after
its Chapter 11 filing.  "We accomplished our goal of getting
through this process quickly and with minimal impact on our
employees, customers and suppliers," said Ms. Rowlands.  "These
results are a testament to the outstanding effort put forth by the
senior management team, Penton's employees, our Board of
Directors, our lenders and our outside professionals.  I would
also like to thank our customers and suppliers for their support
and understanding during our capital restructuring."

"In addition, to this successful capital restructuring, our entire
organization has a lot to be excited about," said Ms. Rowlands.
"Penton's Natural Products Expo West tradeshow is set to begin on
March 11, and we are anticipating record breaking attendance.  We
recently completed a redesign project on several cutting edge web
properties and will soon launch those sites.  Our editorial teams
have received numerous industry awards in recent weeks, and we are
extremely proud of their exceptional work.  Finally, our custom
marketing solutions business is rapidly expanding and our other
businesses are increasing their market share.  All of this
demonstrates that Penton's commitment to growing our business and
improving the products and services we offer our customers is
paying off."

Upon its emergence, Penton will have the same ownership structure,
and its senior management team and Board of Directors will remain
intact.  Ms. Rowlands said, "Penton's equity owners, Board of
Directors, management team, and the entire staff are determined to
build Penton into a stronger, more successful company."

                       About Penton Media



As a leading, independent, business-to-business media company,
Penton -- http://www.penton.com/-- knows business and how to
create and disseminate the vital content that moves markets.
Penton serves the information needs of more than six million
business professionals every month in industries ranging from
Agriculture and Aviation to Electronics, Natural Products, and
Information Technology.  Headquartered in New York City, the
privately held company is owned by MidOcean Partners and U.S.
Equity Partners II, an investment fund sponsored by Wasserstein &
Co., LP, and its co-investors.

Penton Media and its operating subsidiaries filed voluntary
petitions to restructure under Chapter 11 of the U.S. Bankruptcy
Code on Feb. 10, 2010 (Bankr. S.D.N.Y. Case No. 10-10689).

Attorneys at Jones Day serve as bankruptcy counsel.  Kurtzman
Carson Consultants LLC serves as claims and notice agent.  The
petition says that assets are $500 million to $1 billion while
debts exceed $1 billion.


PETTERS GROUP: Prosecutors Want 335-Year Sentence for Founder
-------------------------------------------------------------
Bob Van Voris at Bloomberg News reports that U.S. prosecutors have
recommended that Petters Group Worldwide LLC founder Thomas
Petters, who has been convicted of fraud, should be sentenced to
335 years in prison, U.S. prosecutors recommended.  "The
defendant's fraud is staggering and unprecedented in size and
impact on victims and the community," prosecutors argued in a
sentencing memorandum.

The prosecutors are asking U.S. District Judge Richard Kyle in St.
Paul to give Petters the maximum sentence, more than twice the
150-year prison term given to Bernard Madoff.

In December, a federal trial jury convicted Thomas Joseph Petters,
53, of Wayzata, Minn., of orchestrating a $3.65 billion Ponzi
scheme. Specifically, Petters, who was originally indicted in
December 2008, was found guilty of 10 counts of wire fraud, three
counts of mail fraud, one count of conspiracy to commit mail and
wire fraud, one count of conspiracy to commit money laundering and
five counts of money laundering.

According to the indictment and evidence presented at trial,
Mr. Petters, aided and abetted by others, defrauded and obtained
billions of dollars in money and property by inducing investors to
provide PCI funds to purchase merchandise that was to be resold to
retailers at a profit.   However, no such purchases were made.
Instead, the defendants and co-conspirators diverted the funds
provided them for other purposes, such as making lulling payments
to investors, paying off those who assisted in their fraud scheme,
funding businesses owned or controlled by the defendants, and
financing Thomas Petters's extravagant lifestyle.

                   About Petters Group Worldwide

Based in Minnetonka, Minn., Petters Group Worldwide LLC is named
for founder and chairman Tom Petters.  The group is a collection
of some 20 companies, most of which make and market consumer
products.  It also works with existing brands through licensing
agreements to further extend those brands into new product lines
and markets.  Holdings include Fingerhut (consumer products via
its catalog and Web site), SoniqCast (maker of portable, WiFi MP3
devices), leading instant film and camera company Polaroid
(purchased for $426 million in 2005), Sun Country Airlines
(acquired in 2006), and Enable Holdings (online marketplace and
auction for consumers and manufacturers' overstock inventory).
Petters formed the company in 1988.

Petters Company, Inc., is the financing and capital-raising unit
of Petters Group Worldwide, LLC.  Petters Company, Inc., and
Petters Group Worldwide, LLC, filed separate petitions for Chapter
11 relief on Oct. 11, 2008 (Bankr. D. Minn. Case No. 08-45257 and
08-45258, respectively).  James A. Lodoen, Esq., at Lindquist &
Vennum P.L.L.P., represents the Debtors as counsel.  In its
petition, Petters Company, Inc., listed debts of between
$500 million and $1 billion, while its parent, Petters Group
Worldwide, LLC, listed debts of not more than $50,000.

As reported in the Troubled Company Reporter on Oct. 7, 2008,
Petters Aviation, LLC,, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed for Chapter 11 bankruptcy protection with the U.S.
Bankruptcy Court for the District of Minnesota on Oct. 6, 2008
(Lead Case No. 08-45136).  Petters Aviation, LLC, is a wholly
owned unit of Thomas Petters Inc. and owner of MN Airline
Holdings, Inc., Sun Country's parent company.


PROTECTIVE PRODUCTS: Completes Sec. 363 Sale to Sun Capital
-----------------------------------------------------------
Sun Capital Partners, Inc.'s affiliate Protective Products
Enterprises has acquired substantially all of the assets of
Protective Products of America through a 363 bankruptcy sale.  The
sale was approved by the Bankruptcy Court of the Southern District
of Florida on February 19, 2010.  The company, which ranks among
the top qualified U.S. providers of soft body armor for military
and law enforcement personnel, will continue to operate under its
recognized brand, "Protective Products".

"We are delighted with our agreement to be acquired by an
affiliate of Sun Capital," said Neil Schwartzman, Acting CEO,
Protective Products Enterprises.  "As a result of the
reorganization, our company re-enters the market with a simplified
business model and stronger capital structure, and is better
positioned overall to continue to supply our customers with the
highest quality, certified protective ballistic products.  With
Sun Capital's financial support and extensive manufacturing
experience, Protective Products now has the necessary resources to
invest in our business and pursue the numerous domestic and
international growth opportunities that exist in the current
marketplace.

Said Brian McGee, Vice President at Sun Capital Partners, "We look
forward to working closely with the management team and board of
directors to further capitalize on the Company's position as a
leading provider of a comprehensive line of high quality
protective products.  We foresee a number of opportunities to grow
the business both organically and through add-on acquisitions."

Farlie Turner's Special Situation Group served as the Company's
investment banker and financial advisor.

                    About Protective Products

Sunrise, Florida-based Protective Products of America, Inc.,
formerly known as Ceramic Protection Corporation --
http://www.protectiveproductsofamerica.com/-- engages in the
design, manufacture and marketing of advanced products used to
provide ballistic protection for personnel and vehicles in the
military and law enforcement markets.

The Company filed for Chapter 11 bankruptcy protection on
January 13, 2010 (Bankr. S.D. Fla. Case No. 10-10711).  The
Company's affiliates -- PC Holding Corporation of America; Ceramic
Protection Corporation of America; Protective Products
International Corp.; and Protective Products of North Carolina,
LLC -- also filed separate Chapter 11 petitions.  The Company
listed $10,000,001 to $50,000,000 in assets and $10,000,001 to
$50,000,000 in liabilities.


QUEPASA CORPORATION: Reports $10.6 Million Net Loss in 2009
-----------------------------------------------------------
Quepasa Corporation filed its annual report on Form 10-K, showing
a net loss of $10.6 million on $535,976 of revenue for 2009,
compared with a net loss of $7.1 million on $56,006 of revenue for
2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$2.3 million in assets and $6.2 million of debts, for a
stockholders' deficit of $3.9 million.

Salberg & Company, P.A., in Boca Raton, Florida, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that of the
Company's net loss and net cash used in operating activities in
2009 of $10.6 million and $3.9 million, respectively, and
stockholders' deficit and accumulated deficit of $3.9 million and
$159.3 million, respectively, at December 31, 2009.

A full-text copy of the annual report is available for free at:

              http://researcharchives.com/t/s?5741

West Palm Beach, Fla.-based Quepasa Corporation (OTC BB: QPSA)
through its Web site http://www.Quepasa.com/operates as an online
social community for young Hispanics.


RAPID LINK: Acquires Mr. Prepaid; Senior Secured Debt Restructured
------------------------------------------------------------------
Rapid Link, Incorporated, said, as of February 24, 2010, it has
consummated the initial closing under a Share Exchange Agreement
among the Company, Blackbird Corporation and certain of their
stockholders.

Under the terms of the Share Exchange Agreement, the Company has
acquired Mr. Prepaid, Inc., a former subsidiary of Blackbird, in
exchange for 10,000,000 shares of Series A Convertible Preferred
Stock.  The shares of preferred stock represent, on an as-
converted basis, 80% of the outstanding capital stock of the
Company.  Mr. Prepaid is in the business of providing prepaid
telecommunication and transaction based point of sale activation
solutions through roughly 1,000 independent retailers in the
Eastern United States.  Mr. Prepaid's product offerings include
prepaid wireless PINs for use with various mobile telephone
providers.

In connection with the initial closing under the Share Exchange
Agreement, the Company entered into certain loan modification
documents with Valens Offshore SPV II, Corp., Valens U.S. SPV I,
LLC, Laurus Master Fund, Ltd. (In Liquidation) and LV
Administrative Services, Inc., as agent, which have historically
provided financing to the Company.  Pursuant to the loan
modification documents, the Company's outstanding indebtedness to
the Lenders was restructured and reduced from over $7,000,000 to
an aggregate amount of $1,250,000.  Pursuant to a Secured Term
Note, the indebtedness will accrue interest at the rate of 8.00%
per year with monthly payments of interest commencing on March 1,
2010.  The principal amount of the Secured Term Note is due on
February 28, 2013.

Mr. Prepaid, as the Company's newly acquired subsidiary, executed
a guaranty of the Company's obligations under the Secured Term
Note.  Finally, the Company and Mr. Prepaid executed a Master
Security Agreement in favor of the Lenders pursuant to which the
Company's obligations under the Secured Term Note and Mr.
Prepaid's obligations under the Guaranty are secured by a security
interest in all of the Company's assets and all of the assets of
Mr. Prepaid.

In addition, on February 24, 2010, the Company executed a
Convertible Promissory Note in the principal amount of $500,000 in
favor of a third party lender.  The principal amount under the
Convertible Note will begin to accrue interest on February 28,
2011 at the rate of 3.00% per year with quarterly payments of
interest commencing on June 1, 2011.  The principal amount of the
Convertible Note is due on December 31, 2011.  Prior to maturity,
the Convertible Note may be converted, at any time at the option
of the holder, into shares of the Company's common stock based on
an initial conversion rate of $0.027 per share.  The proceeds of
the Convertible Note will be used to finance the Company's needs
for working capital.

Simultaneously with the initial closing, the Company transferred
its former subsidiaries, Telenational Communications, Inc. and One
Ring Networks, Inc., to a third party who also assumed a material
portion of the Company's senior secured indebtedness.

In connection with the initial closing, the Company's board of
directors and management team was reconstituted.  Effective
February 24, 2010, John A. Jenkins, Lawrence Vierra and David Hess
resigned as members of the board of directors and Mr. Jenkins
resigned as Chief Executive Officer and Chief Financial Officer of
the Company.  Charles Zwebner, David Stier and Valerie Ferraro
were appointed to serve as new members of the board of directors
and Mr. Zwebner was appointed as Chief Executive Officer and
President of the Company.

"We are excited about this strategic transaction which has
provided some important elements in moving the Company to the next
stage," stated Mr. Zwebner.  "Our core objectives going forward
will be to consolidate legacy telecom assets leveraging existing
infrastructures which we expect will provide synergies and cash
flow to the Company, and to grow our offering of mobile and
wireless products and services targeting ethnic and international
users.  We look forward to the opportunities that are presenting
themselves to our Company and to be able to capitalize on them."

                         About Rapid Link

Rapid Link Incorporated -- http://www.rapidlink.com/-- is a
telecommunications services company which, through its wholly
owned subsidiary, provides prepaid telecommunication and
transaction based point of sale activation solutions through 1,000
independent retailers in the Eastern United States.  The Company
also provides long distance services and plans to expand its
product offering to include mobile and wireless services.

At October 31, 2009, total assets were $3.47 million and debts
were at $18.66 million, resulting to a deficit of $15.19 million.

KBA GROUP LLP in Dallas, Texas, expressed substantial doubt about
Rapid Link's ability to continue as a going concern after auditing
the Company's financial statements as of October 31, 2008.  The
auditor noted the Company has suffered recurring losses from
continuing operations during the last two fiscal years.  At
October 31, 2008, the Company's current liabilities exceeded its
current assets by $2.1 million and the Company has a shareholders'
deficit totaling $2.9 million.


RAPID LINK: BlackBird Discloses 80% Equity Stake
------------------------------------------------
BlackBird Corporation disclosed that as of February 24, 2010, it
may be deemed to hold 10,000,000 shares of Series A Convertible
Preferred Stock of Rapid Link, Incorporated.

The 10,000,000 shares of Series A Convertible Preferred Stock are
currently convertible into 520,000,000 shares of Rapid Link Common
Stock which, on an as-converted basis, would represent 80% of the
issued and outstanding capital stock of Rapid Link.

On February 24, 2010, BlackBird consummated the initial closing
under a Share Exchange Agreement, dated October 13, 2009, as
amended by an Amendment to Share Exchange Agreement, dated January
21, 2010, by and among the Company, BlackBird, certain of the
Company's principal shareholders, certain principal shareholders
of BlackBird, and Mr. Prepaid.  Pursuant to the Share Exchange
Agreement, the Company acquired from BlackBird all of the issued
and outstanding shares of capital stock of Mr. Prepaid in exchange
for the 10,000,000 shares of Preferred Stock disclosed by
BlackBird.

The conversion of the Preferred Stock issued to BlackBird is
subject to the Company amending its certificate of incorporation
to increase the amount of shares of Common Stock authorized to be
issued by the Company to an amount sufficient to permit the
conversion of all such shares of the Preferred Stock.

BlackBird said it intends to continuously review its investment in
Rapid Link, and may in the future determine (i) to acquire
additional securities of Rapid Link, through open market
purchases, private agreements or otherwise, (ii) to dispose of all
or a portion of the securities of Rapid Link owned by it or (iii)
to take any other available course of action.  Notwithstanding,
BlackBird specifically reserves the right to change its intention
with respect to any or all of such matters.  In reaching any
decision as to its course of action (as well as to the specific
elements thereof), BlackBird expects that it would take into
consideration a variety of factors, including, but not limited to:
Rapid Link's business and prospects; other developments concerning
Rapid Link and its business generally; other business
opportunities available to BlackBird; developments with respect to
the business of BlackBird; changes in law and government
regulations; general economic conditions; and money and stock
market conditions, including the market price of the securities of
Rapid Link.

                         About Rapid Link

Rapid Link Incorporated -- http://www.rapidlink.com/-- is a
telecommunications services company which, through its wholly
owned subsidiary, provides prepaid telecommunication and
transaction based point of sale activation solutions through 1,000
independent retailers in the Eastern United States.  The Company
also provides long distance services and plans to expand its
product offering to include mobile and wireless services.

At October 31, 2009, total assets were $3.47 million and debts
were at $18.66 million, resulting to a deficit of $15.19 million.

KBA GROUP LLP in Dallas, Texas, expressed substantial doubt about
Rapid Link's ability to continue as a going concern after auditing
the Company's financial statements as of October 31, 2008.  The
auditor noted the Company has suffered recurring losses from
continuing operations during the last two fiscal years.  At
October 31, 2008, the Company's current liabilities exceeded its
current assets by $2.1 million and the Company has a shareholders'
deficit totaling $2.9 million.


RAPID LINK: PSource, Valens Report 9.99% Equity Stake
-----------------------------------------------------
PSource Structured Debt Limited, a closed-ended company
incorporated with limited liability in Guernsey; Valens U.S. SPV
I, LLC; Valens Offshore SPV II, Corp.; Valens Capital Management,
LLC; Eugene Grin and David Grin; and Laurus Capital Management,
LLC, disclosed that they may be deemed to beneficially own
8,283,635 shares or roughly 9.99% of the common stock of Rapid
Link, Incorporated.

Laurus Capital manages PSource Structured Debt, subject to certain
pre-approval rights of the board of directors of PSource
Structured Debt.  Valens Capital Management manages Valens U.S.
SPV I, LLC, and Valens Offshore SPV II, Corp.  Eugene Grin and
David Grin, through other entities, are the controlling principals
of Laurus Capital Management and Valens Capital Management and
share voting and investment power over the securities owned by
PSource Structured Debt, Valens U.S. SPV I, LLC and Valens
Offshore SPV II.

                         About Rapid Link

Rapid Link Incorporated -- http://www.rapidlink.com/-- is a
telecommunications services company which, through its wholly
owned subsidiary, provides prepaid telecommunication and
transaction based point of sale activation solutions through 1,000
independent retailers in the Eastern United States.  The Company
also provides long distance services and plans to expand its
product offering to include mobile and wireless services.

At October 31, 2009, total assets were $3.47 million and debts
were at $18.66 million, resulting to a deficit of $15.19 million.

KBA GROUP LLP in Dallas, Texas, expressed substantial doubt about
Rapid Link's ability to continue as a going concern after auditing
the Company's financial statements as of October 31, 2008.  The
auditor noted the Company has suffered recurring losses from
continuing operations during the last two fiscal years.  At
October 31, 2008, the Company's current liabilities exceeded its
current assets by $2.1 million and the Company has a shareholders'
deficit totaling $2.9 million.


RAYMOND WU: Case Summary & 10 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Raymond Wu
          dba Nelson's Cleaners
          aka Raymond S. Wu
          dba Los Gatos Green Cleaners
        53 Washington Street
        1628 Park Avenue
        Santa Clara, CA 95050

Bankruptcy Case No.: 10-52169

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Northern District of California (San Jose)

Judge: Arthur S. Weissbrodt

Debtor's Counsel: Lars T. Fuller, Esq.
                  The Fuller Law Firm
                  60 N Keeble Ave.
                  San Jose, CA 95126
                  Tel: (408) 295-5595
                  Email: Fullerlawfirmecf@aol.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $500,001 to $1,000,000

According to the schedules, the Company has assets of $1,043,678
and total debts of $556,737.

A list of the Company's 10 largest unsecured creditors is
available for free at http://bankrupt.com/misc/canb10-52169.pdf

The petition was signed by Mr. Wu.


RCN CORPORATION: S&P Retains 'B1' Corporate Family Rating
---------------------------------------------------------
Moody's Investors Service said that RCN Corporation's B1 Corporate
Family Rating, B2 Probability of Default Rating and B1 Senior
Secured Bank Debt Ratings remain unchanged and will be withdrawn
if the company is ultimately sold -- whether to an investment fund
managed by ABRY Partners for approximately $1.2 billion, as
proposed, or otherwise.

The last rating action was on February 12, 2010, when Moody's
affirmed RCN's B1 CFR and B2 PDR.

Based in Herndon, Virginia, RCN is a facilities-based competitive
provider of bundled cable, high-speed Internet and phone services
to residential customers in the high-density northeast and Chicago
markets.  RCN also serves a growing base of commercial customers
through RCN Business Services, which serves as a provider of bulk
video, broadband Internet access and voice services to small- and
medium-sized business customers, and RCN Metro Optical Networks,
which is a facilities-based provider of high capacity data
transport services to large enterprise and carrier customers.


REDDY ICE: Unit Obtains Consent for Debt-Exchange
-------------------------------------------------
Reddy Ice Holdings, Inc., disclosed the results of the exchange
offer and consent solicitation by Reddy Ice Corporation, a Nevada
corporation and wholly-owned subsidiary of the Company, for the
Company's outstanding 10 1/2% Senior Discount Notes due 2012
through 5:00 pm New York City time on March 5, 2010.  On or prior
to the Early Tender Date, tenders and consents had been received
with respect to approximately 91.0% of the outstanding aggregate
principal amount of the Old Notes.

Upon the acceptance of the Old Notes for exchange, holders of Old
Notes who provided valid tenders and consents on or prior to the
Early Tender Date will receive $1,000.00 principal amount of new
13.25% senior secured notes due 2015 of Reddy Corp for each $1,000
principal amount of their Old Notes that are accepted for
exchange, plus an additional $5.00 principal amount of New Notes.
Reddy Corp expects to accept for exchange the Old Notes validly
tendered on or prior to the Early Tender Date simultaneously with
the closing of the offering of its new first lien notes.

The exchange offer and consent solicitation will expire at 12:00
midnight, New York City time, on March 19, 2010, unless extended.
Holders tendering Old Notes after the Early Tender Date will
receive $1,000.00 principal amount of the New Notes for each
$1,000 principal amount of their Old Notes that are accepted for
exchange, but will not receive the Early Tender Payment.

                           About Reddy Ice

Reddy Ice Holdings, Inc. -- http://www.reddyice.com/--
manufactures and distributes packaged ice in the United States.
The company serves variety of customers in 31 states and the
District of Columbia under the Reddy Ice brand name. Its
principal product is ice packaged in seven to 50 pound bags,
which it sells to a diversified customer base, including
supermarkets, mass merchants and convenience stores.  As of March
6, 2009, the company owned or operated 58 ice manufacturing
facilities, 67 distribution centers and approximately 3,100 Ice
Factories.

                          *     *     *

According to the Troubled Company Reporter on Feb. 23, 2010,
Moody's Investors Service assigned a B1 rating to Reddy Ice
Corporation's (a wholly owned subsidiary of Reddy Ice Holdings,
Inc.) proposed $300 million first lien senior secured notes due
2015.  The company plans to use proceeds from the first lien notes
to refinance its existing $240 million senior secured term loan
due 2012 and for general corporate purposes.


REDDY ICE: Unit Prices $270 Million Senior Sec. Notes Offering
--------------------------------------------------------------
Reddy Ice Holdings Inc. said that Reddy Ice Corporation priced its
offering on February 26, 2010, of $270 million aggregate principal
amount of 11.25% senior secured notes due 2015.  The issue price
is 100% of the principal amount of the notes.   The closing of the
sale of the notes, which is subject to customary conditions,
including the concurrent closing of Reddy Corp'.s new revolving
credit facility, is expected to occur on March 15, 2010.

Reddy Corp. said it intends to use the proceeds of the offering to
refinance its existing indebtedness and to pay estimated fees and
expenses, with the balance retained for general corporate
purposes.  The notes will be guaranteed by the Company and by
Reddy Corp's future domestic restricted subsidiaries, and the
notes and the guarantees will be secured by a first-priority lien
on substantially all the tangible and intangible assets of Reddy
Corp, the Company and any such restricted subsidiaries.

                           About Reddy Ice

Reddy Ice Holdings, Inc. -- http://www.reddyice.com/--
manufactures and distributes packaged ice in the United States.
The company serves variety of customers in 31 states and the
District of Columbia under the Reddy Ice brand name. Its
principal product is ice packaged in seven to 50 pound bags,
which it sells to a diversified customer base, including
supermarkets, mass merchants and convenience stores.  As of
March 6, 2009, the company owned or operated 58 ice manufacturing
facilities, 67 distribution centers and approximately 3,100 Ice
Factories.

                          *     *     *

According to the Troubled Company Reporter on Feb. 23, 2010,
Moody's Investors Service assigned a B1 rating to Reddy Ice
Corporation's (a wholly owned subsidiary of Reddy Ice Holdings,
Inc.) proposed $300 million first lien senior secured notes due
2015.  The company plans to use proceeds from the first lien notes
to refinance its existing $240 million senior secured term loan
due 2012 and for general corporate purposes.


REDDY ICE: Unit Prices Additional $30 Mil. Senior Secured Notes
---------------------------------------------------------------
Reddy Ice Holdings Inc. said that Reddy Ice Corporation has priced
an offering of an additional $30 million aggregate principal
amount of 11.25% senior secured notes due 2015.  The issue price
is 100% of the principal amount of the Additional Notes.  The
Company offered and priced $270 million aggregate principal amount
of 11.25% senior secured notes due 2015 on February 26, 2010.

The Additional Notes have the same terms and will be part of the
same series as the Initial Notes and will be pari passu with, and
vote together with the holders of, the Initial Notes on any
matters submitted to the holders of the Initial Notes.  The
closing of the sale of the Additional Notes, which is subject to
customary conditions, including the concurrent issuance of the
Initial Notes, the concurrent closing of Reddy Corp's new
revolving credit facility and the concurrent initial closing of
Reddy Corp.'s exchange offer and consent solicitation for the
Company's existing 10 1/2% senior discount notes due 2012, is
expected to occur on March 15, 2010.

Reddy Corp intends to use the net proceeds of the offering for
general corporate purposes.  The Additional Notes will be
guaranteed by the Company and by Reddy Corp.'s future domestic
restricted subsidiaries, and the Additional Notes and the
guarantees will be secured by a first-priority lien on
substantially all the tangible and intangible assets of Reddy
Corp, the Company and any such restricted subsidiaries.

                 Execution of Supplement Indenture

The company and U.S. Bank National Association, the trustee under
the indenture governing the Company's 10 1/2% Senior Discount
Notes due 2012, executed a supplemental indenture to the Indenture
in order to effect the proposed amendments to the Old Notes and
the Indenture, as provided in the offering circular dated
February 22, 2010.  The amendments, however, will not become
operative with respect to the Old Notes and the Indenture until
Reddy Ice Corporation, a Nevada corporation and wholly-owned
subsidiary of the Company, has accepted for exchange as of the
initial acceptance date at least a majority of the outstanding
aggregate principal amount of the Old Notes.  As a result of the
execution of the Supplemental Indenture, Old Notes that have been
tendered prior to, or that are tendered after, the execution of
the Supplemental Indenture may not be withdrawn and the related
consents may not be revoked.

The exchange offer and consent solicitation will expire at 12:00
midnight, New York City time, on March 19, 2010, unless extended.
Holders tendering Old Notes will receive $1,000.00 principal
amount of new 13.25% senior secured notes due 2015 of Reddy Corp
for each $1,000 principal amount of their Old Notes that are
accepted for exchange, plus an additional $5.00 principal amount
of New Notes if their Old Notes are tendered at or prior to the
early tender date for the offer, which will be 5:00 p.m., New York
City time, on March 5, 2010, unless extended.

The exchange offer and consent solicitation is subject to certain
conditions, including the entry into a new revolving credit
facility by Reddy Corp, the termination and repayment of all
indebtedness under Reddy Corp's existing credit facility and the
issuance by Reddy Corp of new first lien notes in an amount
sufficient to refinance Reddy Corp's existing credit facility.
Reddy Corp has the right to waive these conditions or to terminate
or withdraw the exchange offer and consent solicitation at any
time and for any reason prior to the fulfillment or waiver of the
conditions to the offer.

                           About Reddy Ice

Reddy Ice Holdings, Inc. -- http://www.reddyice.com/--
manufactures and distributes packaged ice in the United States.
The company serves variety of customers in 31 states and the
District of Columbia under the Reddy Ice brand name. Its
principal product is ice packaged in seven to 50 pound bags,
which it sells to a diversified customer base, including
supermarkets, mass merchants and convenience stores.  As of March
6, 2009, the company owned or operated 58 ice manufacturing
facilities, 67 distribution centers and approximately 3,100 Ice
Factories.

                          *     *     *

According to the Troubled Company Reporter on Feb. 23, 2010,
Moody's Investors Service assigned a B1 rating to Reddy Ice
Corporation's (a wholly owned subsidiary of Reddy Ice Holdings,
Inc.) proposed $300 million first lien senior secured notes due
2015.  The company plans to use proceeds from the first lien notes
to refinance its existing $240 million senior secured term loan
due 2012 and for general corporate purposes.


REMEDIAL CYPRUS: To Auction Support Vessels in April
----------------------------------------------------
Bill Rochelle at Bloomberg News reports that Remedial (Cyprus)
Public Co. scheduled a March 10 hearing to set up procedures for
an auction of the company's two elevated support vessels for the
offshore oil and gas industry.  Absent higher and better offers,
secured bondholders owed $230 million will purchase ownership of
the two uncompleted vessels in exchange for $120 million in debt,
plus whatever is outstanding on the $5 million post-bankruptcy
loan.  The bondholders also will pay costs to cure contract
defaults.  The deadline for other offers, the auction and the
sale-approval hearing are slated for April.

                      About Remedial (Cyprus)

Based in Limassol, Cyprus, Remedial (Cyprus) Public Company owns
and operates self-propelled jack up rigs called Elevating Support
Vessels. The vessels facilitate offshore well intervention
activities and work-over services.

Remedial (Cyprus) Public Company Ltd. -- dba Brufani
Shipmanagement Limited and Remedial Cyprus Limited -- filed for
Chapter 11 bankruptcy protection on February 17, 2010 (Bankr.
S.D.N.Y. Case No. 10-10782).  Kenneth A. Rosen, Esq., at
Lowenstein Sandler, P.C., assists the Company in its restructuring
effort.  The Company estimated its assets and debts at
US$100,000,001 to US$500,000,000.


RICHARD BRUNSMAN: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Richard T. Brunsman, Jr.
        2565 Shaker Village Drive
        North Bend, OH 45052

Bankruptcy Case No.: 10-11371

Type of Business:

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Southern District of Ohio (Cincinnati)

Judge: J. Vincent Aug Jr.

Debtor's Counsel: Charles M. Meyer, Esq.
                  Santen & Hughes
                  600 Vine Street, Suite 2700
                  Cincinnati, OH 45202
                  Tel: (513) 852-5986
                  Fax: (513) 721-0109
                  Email: cmm@santen-hughes.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $50,000,001 to $100,000,000

According to the schedules, the Company has assets of $28,731,131,
and total debts of $52,730,212.

The petition was signed by Richard T. Brunsman Jr.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Advantage bank             Bank loan              $2,300,000
1111 Saint Gregory Street (personally
Suite 100                  guaranteed)
Cincinnati, OH 45202

Bank of Kentucky           Bank loan              $120,000
                          (personally
                           guaranteed)

Center Bank                Bank loan              $750,000
744 State Route 8         (personally
Milford, OH 45150          guaranteed by Debtor)

Central Bank & Trust Co.   Bank loan              $2,000,000
2075 Dixie Highway        (personally
Ft. Mitchell, KY 41011     guaranteed)

Comerica Bank              Bank loan              $2,500,000
PO Box 15102              (personally
Wilmington, DE 19886-5102  guaranteed)

Fifth Third Bank           Bank loan              $4,500,000
511 Walnut Street         (personally
Cincinnati, OH 45202       guaranteed)

First Financial Bank       A/Rs in the            $4,200,000
970 Main Street            approximate amount of  ($80,000
Cincinnati, OH 45202       $50,000 and            secured)
                           inventory/equipment
                           in the approximate
                           amount of $30,000
                           (owned by Cincinatti
                           Technology Service)
First Financial Bank       Bank loan              $400,000
970 Main Street
Cincinnati, OH 45202

First Financial Bank       Bank loan              $1,500,000
970 Main Street           (personally
Cincinnati, OH 45202       guaranteed)

Forcht Bank                Bank loan              $1,100,000
7705 U.S. Highway 42      (personally
Florence, KY 41042         guaranteed)

Huntington National Bank   Bank loan              $1,800,000
41 High Street            (personally
HC0726                     guaranteed)
Columbus, OH 43215

Huntington National Bank   Bank loan              $369,250
41 High Street
HC0726
Columbus, OH 43215

Integra Bank               Bank loan              $296,000
50 E. Rivercenter Blvd.   (personally
Suite 1180                 guaranteed)
Covington, KY 41011

JP Morgan Chase            Bank loan              $3,500,000
525 Vine Street           (personally
Cincinnati, OH 45202       guaranteed)

Regions Bank               Bank loan              $4,000,000
8758 E. 96th Street       (personally
Fishers, IN 46037          guaranteed)

Security National Bank     Bank loan              $840,000
82 N. Allison Avenue      (personally
Xenia, OH 45385            guaranteed)

Stock Yards Bank &         Bank loan              $2,500,000
Trust Co.
101 W. Fourth Street      (personally
Cincinnati, OH 45202       guaranteed)

Sutton Bank                Bank loan              $1,400,000
8745 Union Centre Blvd.   (personally
West Chester, OH 45069     guaranteed)

U.S. Bank, N.A.            Bank loan              $3,400,000
425 Walnut St.            (personally
Cincinnati, OH 45202       guaranteed)

WesBanco                   Bank loan              $3,300,000
4517 Vine Street          (personally
Cincinnati, OH 45217       guaranteed)


ROBERT KEITH MILLER: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Robert Keith Miller
          aka Bob Miller
          dba Green Frog Dance Hall
          dba Cowhide Caf‚
          dba Tivios Ballroom
          dba Sacred Spur Ranch
          dba Buzzard Breath Arena
          dba Santa Fe Landscaping
        P.O. Box 461
        Judson, TX 75660

Bankruptcy Case No.: 10-20056

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Eastern District of Texas (Marshall)

Debtor's Counsel: Charles E. Lauffer, Jr., Esq.
                  Ritcheson, Lauffer & Vincent, P.C.
                  Two American Center
                  821 ESE Loop 323, Suite 530
                  Tyler, TX 75701
                  Tel: (903) 535-2900
                  Fax: (903) 533-8646
                  Email: charlesl@rllawfirm.net

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $500,001 to $1,000,000

A list of the Company's 20 largest unsecured creditors is
available for free at:

             http://bankrupt.com/misc/txeb10-20056.pdf

The petition was signed by Mr. Miller.


RYLAND GROUP: BlackRock Holds 8.24% of Common Stock
---------------------------------------------------
BlackRock Inc. disclosed that as of December 31, 2009, it may be
deemed to beneficially own 3,612,880 shares or roughly 8.24% of
the common stock of The Ryland Group Inc.

Founded in 1967 and headquartered in Calabasas, California, The
Ryland Group, Inc. -- http://www.ryland.com/-- is a mid-sized
homebuilder with homebuilding revenues and net income for the
trailing 12 months ended September 30, 2009, of $1.35 billion and
($261) million, respectively.  Ryland is listed on the New York
Stock Exchange under the symbol "RYL."

Ryland posted its third consecutive annual net loss, reporting
$162,474,000 net loss for 2009, $396,585,000 for 2008, and
$333,526,000 for 2007.

As of December 31, 2009, the Company had $1,685,453,000 in total
assets and $1,103,591,000 in total liabilities resulting in
$581,862,000 in stockholders' equity.

                           *     *      *

Ryland Group carries Moody's "Ba3" corporate family rating, "Ba3"
probability of default rating, "Ba3" senior unsecured notes
rating, and "SGL-2" speculative grade liquidity rating.  Ryland
Group carries Standard & Poor's Ratings Services' 'BB-' corporate
credit and senior unsecured note ratings.


RYLAND GROUP: Dimensional Fund Holds 3.3% of Common Stock
---------------------------------------------------------
Dimensional Fund Advisors LP disclosed that as of December 31,
2009, it may be deemed to beneficially own 1,445,167 shares or
roughly 3.3% of the common stock of The Ryland Group Inc.

Founded in 1967 and headquartered in Calabasas, California, The
Ryland Group, Inc. -- http://www.ryland.com/-- is a mid-sized
homebuilder with homebuilding revenues and net income for the
trailing 12 months ended September 30, 2009, of $1.35 billion and
($261) million, respectively.  Ryland is listed on the New York
Stock Exchange under the symbol "RYL."

Ryland posted its third consecutive annual net loss, reporting
$162,474,000 net loss for 2009, $396,585,000 for 2008, and
$333,526,000 for 2007.

As of December 31, 2009, the Company had $1,685,453,000 in total
assets and $1,103,591,000 in total liabilities resulting in
$581,862,000 in stockholders' equity.

                           *     *      *

Ryland Group carries Moody's "Ba3" corporate family rating, "Ba3"
probability of default rating, "Ba3" senior unsecured notes
rating, and "SGL-2" speculative grade liquidity rating.  Ryland
Group carries Standard & Poor's Ratings Services' 'BB-' corporate
credit and senior unsecured note ratings.


RYLAND GROUP: Duquesne Capital No Longer Holds Shares
-----------------------------------------------------
Duquesne Capital Management, L.L.C., and Stanley F. Druckenmiller
disclosed that as of December 31, 2009, they no longer held shares
of The Ryland Group Inc. common stock.

Founded in 1967 and headquartered in Calabasas, California, The
Ryland Group, Inc. -- http://www.ryland.com/-- is a mid-sized
homebuilder with homebuilding revenues and net income for the
trailing 12 months ended September 30, 2009, of $1.35 billion and
($261) million, respectively.  Ryland is listed on the New York
Stock Exchange under the symbol "RYL."

Ryland posted its third consecutive annual net loss, reporting
$162,474,000 net loss for 2009, $396,585,000 for 2008, and
$333,526,000 for 2007.

As of December 31, 2009, the Company had $1,685,453,000 in total
assets and $1,103,591,000 in total liabilities resulting in
$581,862,000 in stockholders' equity.

                           *     *      *

Ryland Group carries Moody's "Ba3" corporate family rating, "Ba3"
probability of default rating, "Ba3" senior unsecured notes
rating, and "SGL-2" speculative grade liquidity rating.  Ryland
Group carries Standard & Poor's Ratings Services' 'BB-' corporate
credit and senior unsecured note ratings.


RYLAND GROUP: State Street Corp. Holds 6.4% of Common Stock
-----------------------------------------------------------
State Street Corporation disclosed that as of December 31, 2009,
it may be deemed to hold 2,807,696 shares or roughly 6.4% of the
common stock of The Ryland Group Inc.

In a separate regulatory filing, State Street Bank and Trust
Company, acting in various fiduciary capacities, disclosed that as
of December 31, 2009, it no longer held Ryland shares.

Founded in 1967 and headquartered in Calabasas, California, The
Ryland Group, Inc. -- http://www.ryland.com/-- is a mid-sized
homebuilder with homebuilding revenues and net income for the
trailing 12 months ended September 30, 2009, of $1.35 billion and
($261) million, respectively.  Ryland is listed on the New York
Stock Exchange under the symbol "RYL."

Ryland posted its third consecutive annual net loss, reporting
$162,474,000 net loss for 2009, $396,585,000 for 2008, and
$333,526,000 for 2007.

As of December 31, 2009, the Company had $1,685,453,000 in total
assets and $1,103,591,000 in total liabilities resulting in
$581,862,000 in stockholders' equity.

                           *     *      *

Ryland Group carries Moody's "Ba3" corporate family rating, "Ba3"
probability of default rating, "Ba3" senior unsecured notes
rating, and "SGL-2" speculative grade liquidity rating.  Ryland
Group carries Standard & Poor's Ratings Services' 'BB-' corporate
credit and senior unsecured note ratings.


S. H. LEGGITT: Asks for Court's Nod to Use Cash Collateral
----------------------------------------------------------
S. H. Leggitt Company has sought authority from the U.S.
Bankruptcy Court for the Western District of Texas to use the cash
collateral securing their obligation to their prepetition lenders.

Joseph D. Martinec, Esq., at Martinec, Winn, Vickers &
McElroy, P.C., the attorney for the Debtor, explains that the
Debtor needs the money to fund its Chapter 11 case, pay suppliers
and other parties.  The Debtors will use the collateral pursuant
to a budget, a copy of which is available for free at:

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

Don Leggitt, Sr., a creditor who appears to be the holders of lien
indebtedness, doesn't oppose the use of cash collateral so long as
he is granted a replacement lien on the Debtor's post-petition
accounts and inventory and that disbursements are made in
accordance with the budget.

The Debtor didn't disclose if there will be a replacement lien or
any adequate protection to be granted to the prepetition lenders
in exchange for using cash collateral.

Mr. Leggitt is represented by Beard Kultgen Brophy Bostwick
Dickson & Squires, LLP.

San Marcos, Texas-based S.H. Leggitt Company, aka Marshall
Products -- dba The Leggitt Group; Marshall Brass Company; and
Marshall Gas Controls, Inc. -- filed for Chapter 11 bankruptcy
protection on February 2, 2010 (Bankr. W.D. Texas Case No. 10-
10279).  The Company listed $1,000,001 to $10,000,000 in assets
and $10,000,001 to $50,000,000 in liabilities.


SALLY BEAUTY: Carol Bernick, Leonard Lavin Report Stake
-------------------------------------------------------
Carol L. Bernick disclosed holding 2.4% of Sally Beauty Holdings,
Inc. common stock.  Leonard H. Lavin disclosed holding 2.0% of
Sally Beauty shares.

Ms. Bernick holds 4,337,352 Sally Beauty shares, which includes
2,435,654 shares held as trustee or co-trustee of trusts for the
benefit of Leonard H. Lavin and his descendants, including Carol
L. Bernick; and 1,379,454 shares held by a family partnership and
522,244 shares held by a family foundation.

Mr. Lavin holds 2,901,698 Sally Beauty shares, including 1,000,000
shares held as co-trustee of Family Trusts; 1,379,454 shares held
by a family partnership and 522,244 shares held by a family
foundation.

Denton, Texas-based Sally Beauty Holdings, Inc. (NYSE: SBH) --
http://www.sallybeauty.com/-- sells professional beauty supplies,
primarily through its Sally Beauty Supply retail stores in the
U.S., Puerto Rico, Mexico, Canada, Chile, Belgium, France, Italy,
the United Kingdom and certain other countries in Europe.  The
Company also distributes professional beauty products to salons
and professional cosmetologists through its Beauty Systems Group
store operations and a commissioned direct sales force that calls
on salons primarily in the U.S., Puerto Rico, Canada, the United
Kingdom and certain other countries in Europe, and to franchises
in the southern and southwestern U.S. and in Mexico through the
operations of its subsidiary Armstrong McCall.

At December 31, 2009, the Company had total assets of
$1,529,702,000 against total liabilities of $2,109,894,000,
resulting in stockholders' deficit of $581,992,000.


SALLY BEAUTY: FMR, Fidelity Hold 13.407% of Common Stock
--------------------------------------------------------
FMR LLC and Edward C. Johnson 3d disclosed that they may be deemed
to hold 24,442,616 shares or roughly 13.407% of the common stock
of Sally Beauty Holdings, Inc.

Fidelity Management & Research Company, a wholly owned subsidiary
of FMR LLC, is the beneficial owner of 22,617,908 shares or
12.406% of the Common Stock outstanding of SALLY BEAUTY HLDGS INC
as a result of acting as investment adviser to various investment
companies.

The ownership of one investment company, Fidelity Variable
Insurance Products Mid Cap Portfolio, amounted to 9,384,811 shares
or 5.148% of the Common Stock outstanding.

Denton, Texas-based Sally Beauty Holdings, Inc. (NYSE: SBH) --
http://www.sallybeauty.com/-- sells professional beauty supplies,
primarily through its Sally Beauty Supply retail stores in the
U.S., Puerto Rico, Mexico, Canada, Chile, Belgium, France, Italy,
the United Kingdom and certain other countries in Europe.  The
Company also distributes professional beauty products to salons
and professional cosmetologists through its Beauty Systems Group
store operations and a commissioned direct sales force that calls
on salons primarily in the U.S., Puerto Rico, Canada, the United
Kingdom and certain other countries in Europe, and to franchises
in the southern and southwestern U.S. and in Mexico through the
operations of its subsidiary Armstrong McCall.

At December 31, 2009, the Company had total assets of
$1,529,702,000 against total liabilities of $2,109,894,000,
resulting in stockholders' deficit of $581,992,000.


SAN WEST: Posts $262,184 Net Loss in Q3 2009
--------------------------------------------
San West, Inc., filed its quarterly report on Form 10-Q, showing a
net loss of $262,184 on $214,099 of revenue for the three months
ended September 30, 2009, compared with a net loss of $112,903 on
$141,534 of revenue for the same period of 2008.

The Company's balance sheet as of September 30, 2009, showed
$3.6 million in assets, $3.0 million of debts, and $638,787 of
stockholders' equity.

Since inception, the Company has been engaged primarily in product
research and development, investigating markets for its products,
developing manufacturing and supply chain partners, and developing
distribution, licensing and other channel relationships.  In the
course of funding research and development activities, the Company
has sustained operating losses since inception and has an
accumulated deficit of $933,652 and $359,075 at September 30,
2009, and December 31, 2008, respectively.  In addition, the
Company has negative working capital of $2,297,406 and $177,931 at
September 30, 2009. and December 31, 2008, respectively.

"The Company has and will continue to use significant capital to
manufacture and commercialize its products.  These factors raise
substantial doubt about the ability of the Company to continue as
a going concern."

A full-text copy of the quarterly report is available for free at:

                  http://researcharchives.com/t/s?5792

Santee, California-based San West, Inc., formerly Human BioSystems
Acquisition Company, designs, manufactures, sells and repairs off-
road buggies, and additionally provides after market performance
products and accessories for buggies.  Its products are sold both
at a physical location and online while the buggy repair services
are sold and fulfilled at the physical location.  Its primary
service outlet, "Letz Go Racing Off-Road Center" is located in
Huntington Beach, California and provides customers with
modification parts, accessories and repair services for off-road
buggies built in China for the U.S. market.


SCHWAB INDUSTRIES: Taps Hahn Loeser as Bankruptcy Counsel
---------------------------------------------------------
Schwab Industries, Inc., et al., have sought permission from the
U.S. Bankruptcy Court for the Northern District of Ohio to employ
Hahn Loeser & Parks LLP as bankruptcy counsel, nunc pro tunc to
the Petition Date.

Hahn Loeser will, among other things:

     (a) assist, advise and represent the Debtors in their
         consultations with creditors regarding the administration
         of their Chapter 11 cases;

     (b) provide assistance, advice and representation concerning
         the preparation and negotiation of a plan of
         reorganization and disclosure statement and any asset
         sales or other transactions proposed in connection with
         the Debtors' Chapter 11 cases;

     (c) provide assistance, advice and representation concerning
         any investigation of assets, liabilities and financial
         condition of Debtors that may be required; and

     (d) represent the Debtors at hearings on matters pertaining
         to their affairs as debtors-in-possession.

Hahn Loeser will be paid based on the hourly rates of its
personnel:

         Lawrence E. Oscar                      $590
         Daniel A. DeMarco                      $500
         Christopher B. Wick                    $325
         Christopher W. Peer                    $270
         Emily W. Ladky                         $190
         Colleen M. Beitel, Paralegal           $210

Lawrence E. Oscar, a partner at Hahn Loeser, assures the Court
that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

Dover, Ohio-based Schwab Industries, Inc., produces, supplies and
distributes ready-mix concrete, concrete block, cement and related
supplies to commercial, governmental and residential contractors
throughout Northeast Ohio and Southwest Florida.

The Company filed for Chapter 11 bankruptcy protection on
February 28, 2010 (Bankr. N.D. Ohio Case No. 10-60702).  The
Company estimated its assets and liabilities at $50,000,001 to
$100,000,000.


SCHWAB INDUSTRIES: Gets OK to Hire Garden City as Claims Agent
--------------------------------------------------------------
Schwab Industries, Inc., et al., sought and obtained authorization
from the Hon. Russ Kendig of the U.S. Bankruptcy Court for the
Northern District of Ohio to employ Garden City Group, Inc., as
claims, noticing and balloting agent, nunc pro tunc to the
Petition Date.

GCG will, among other things:

     a. maintain, process and docket claims and interests;

     b. provide case information and transmit notices to
        appropriate parties;

     c. assist in the preparation of the Debtors' schedules and
        statements of financial affairs; and

     d. assist the Debtors with the dissemination of solicitation
        materials relating to a plan of reorganization.

GCG will be paid based on the hourly rates of its personnel:

        Administrative & Data Entry                $45-$55
        Mailroom and Claims Control                   $55
        Project Administrators                     $70-$85
        Quality Assurance Staff                    $80-$125
        Project Supervisors                        $95-$110
        Systems & Technology Staff                $100-$100
        Graphic Support for Web site                 $125
        Project Managers                          $125-$150
        Directors, Sr. Consultants and Asst. VP   $175-$275
        Vice President                               $295

Emily S. Gottlieb, a Senior Director of Bankruptcy Operations of
GCG, assured the Court that the firm is "disinterested" as that
term is defined in Section 101(14) of the Bankruptcy Code.

Dover, Ohio-based Schwab Industries, Inc., produces, supplies and
distributes ready-mix concrete, concrete block, cement and related
supplies to commercial, governmental and residential contractors
throughout Northeast Ohio and Southwest Florida.

The Company filed for Chapter 11 bankruptcy protection on
February 28, 2010 (Bankr. N.D. Ohio Case No. 10-60702).  Lawrence
E. Oscar, Esq., who has an office in Cleveland, Ohio, and Marc
Merklin, Esq., at Brouse McDowell, LPA, assist the Company in its
restructuring effort.  The Company estimated its assets and
liabilities at $50,000,001 to $100,000,000.


SCHWAB INDUSTRIES: Wants April 15 Deadline for Schedules
--------------------------------------------------------
Schwab Industries, Inc., et al., has asked the U.S. Bankruptcy
Court for the Northern District of Ohio to extend by an additional
30 days the deadline for the filing of schedules of assets and
liabilities, schedules of executory contracts and unexpired
leases, and statements of financial affairs, until April 15, 2010.

Given the size and scope of Debtors' cases, and all of the other
demands that have been placed on Debtors and their employees in
the cases, Debtors expect that they won't be in a position to
timely and accurately complete and file their schedules and
statements within the 14 day period provided by the U.S.
Bankruptcy Rules.

Dover, Ohio-based Schwab Industries, Inc., produces, supplies and
distributes ready-mix concrete, concrete block, cement and related
supplies to commercial, governmental and residential contractors
throughout Northeast Ohio and Southwest Florida.

The Company filed for Chapter 11 bankruptcy protection on
February 28, 2010 (Bankr. N.D. Ohio Case No. 10-60702).  Lawrence
E. Oscar, Esq., who has an office in Cleveland, Ohio, and Marc
Merklin, Esq., at Brouse McDowell, LPA, assist the Company in its
restructuring effort.  The Company estimated its assets and
liabilities at $50,000,001 to $100,000,000.


SCHWAB INDUSTRIES: Wants Brouse McDowell as Special Counsel
-----------------------------------------------------------
Schwab Industries, Inc., et al., have sought authorization from
the U.S. Bankruptcy Court for the Northern District of Ohio to
employ Brouse McDowell, LPA, as special counsel, nunc pro tunc to
the Petition Date.

Brouse McDowell will:

     (a) represent the Debtors in matters directly adverse to Bank
         of America;

     (b) represent the Debtors in matters where Hahn Loeser is
         unable to represent Debtors; and

     (c) represent Debtors in any other matters agreed upon by
         Brouse and Debtors.

Hahn Loeser has notified Debtors that it has an unavoidable
conflict and is unable to represent Debtors in matters directly
adverse to BofA.  The Debtors, Brouse and Hahn Loeser will work
closely to ensure that no duplication of services occurs between
Brouse and Hahn Loeser.

Brouse McDowell will be paid based on the hourly rates of its
personnel:

         Marc B. Merklin                   $350
         Kate M. Bradley                   $250
         Alan M. Koschik                   $275
         Jessica E. Price                  $265
         Nicholas P. Capotosto             $210
         Susan P. Taylor                   $185
         Mary M. Swann                     $170
         Bridget A. Franklin               $165
         Theresa M. Palcic                 $145

Marc B. Merklin, a shareholder in Brouse McDowell, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

Dover, Ohio-based Schwab Industries, Inc., produces, supplies and
distributes ready-mix concrete, concrete block, cement and related
supplies to commercial, governmental and residential contractors
throughout Northeast Ohio and Southwest Florida.

The Company filed for Chapter 11 bankruptcy protection on
February 28, 2010 (Bankr. N.D. Ohio Case No. 10-60702).  The
Company estimated its assets and liabilities at $50,000,001 to
$100,000,000.


SHAWN YODER: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Shawn K. Yoder
               Karen Lee Yoder
                 aka Karen Lee Matteson
               1580 Estee Avenue
               Napa, CA 94558

Bankruptcy Case No.: 10-10752

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtors' Counsel: Michael C. Fallon, Esq.
                  Law Offices of Michael C. Fallon
                  100 E St. #219
                  Santa Rosa, CA 95404
                  Tel: (707) 546-6770
                  Email: mcfallon@fallonlaw.net

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $1,081,030
and total debts of $1,872,327.

A full-text copy of the Debtors' petition, including a list of
their 20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/canb10-10752.pdf

The petition was signed by the Joint Debtors.


SIERRA KINGS: April 30 Deadline for Filing Proofs of Claim
----------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California
has set April 30, 2010, as the deadline for all creditors to file
proofs of claim in Sierra Kings Health Care District's Chapter 9
bankruptcy proceeding.  Pursuant to 11 U.S.C. Sec. 925, a Proof of
Claim is deemed filed with respect to any Claim that appears on
the List of Creditors (as it may be amended from time to time)
filed by the Debtor with the Bankruptcy Court on October 8, 2009,
pursuant to 11 U.S.C. Sec. 924; however, the List of Creditors
submitted by the District does not list the amount of a claim.  To
avoid your Claim being deemed to be $0, you must file a timely
Proof of Claim.

Sierra Kings Health Care District, located about 30 miles
southeast of Fresno, Calif., runs a 44-bed hospital located in in
Reedley, Calif.  Sierra Kings Health District filed a Chapter 9
petition (Bankr. E.D. Calif. Case No. 09-19728) on Oct. 8, 2009,
after discovering that the proceeds of bond sales in 2006 and 2007
were misused.  Riley C. Walter, Esq., in Fresno, Calif.,
represents the Debtor.  At the time of the filing, the Debtor
estimated its assets and liabilities at less than $50,000.


SIX FLAGS: Posts $194.1 Million Net Loss in 2009
------------------------------------------------
Six Flags, Inc., filed its annual report on Form 10-K, showing a
net loss of $194.1 million on $912.9 million of revenue for 2009,
compared with a net loss of $79.1 million on $1.0 billion of
revenue for 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$2.9 billion in assets, $3.1 bilion of debts, and $355.9 million
of redeemable noncontrolling interests, for a stockholders'
deficit of $584.2 million.

                       Going Concern Doubt

The Company says its ability, both during and after the Bankruptcy
Court proceedings, to continue as a going concern, is dependent
upon, among other things, (i) its ability to maintain adequate
liquidity, including the generation of cash from operations, and
(ii) its ability to confirm a plan of reorganization under the
Bankruptcy Code.  Uncertainty as to the outcome of these factors
raises substantial doubt about the Debtors' ability to continue as
a going concern.

                      Plan of Reorganization

Under the Plan filed with the Bankruptcy Court on December 18,
2009, allowed unsecured claims against all of the Debtors other
than Six Flags, Inc. and Six Flags Operations Inc. ("SFO") will be
paid in full or be reinstated.

The holders of allowed unsecured claims against SFO will convert
their claims against SFO into approximately 22.89% of the New
Common Stock to be issued by Reorganized SFI.  The holders of
allowed unsecured claims against Six Flags, Inc. will convert
their claims against Six Flags, Inc. into approximately 7.34% of
the New Common Stock to be issued by reorganized SFI.

All existing equity interest in Six Flags, Inc. will be cancelled
under the Plan.  All existing equity interests in SFO will be
cancelled, and 100% of the newly issued common stock of SFO will
be issued to Six Flags, Inc. on the Effective Date in
consideration for Six Flags, Inc.'s distribution of the New Common
Stock in Reorganized SFI to certain holders of allowed claims.
The Preconfirmation Subsidiary Equity Interests will remain
unaltered by the Plan, and all existing equity interests in Six
Flags, Inc. will be cancelled under the Plan.  The Preconfirmation
Subsidiary Equity Interests and the Preconfirmation SFO Equity
Interests will remain unaltered by the Plan.

At present, both the Creditors' Committee and the Informal SFI
Committee have indicated that they do not support the Plan.
Although vote tabulation has yet to be concluded, Six Flags
believes that the class of creditors substantially consisting of
claims held by the Informal SFI Committee will vote to reject the
Plan.  However, the Debtors do not believe that the support of the
Creditors' Committee or the Informal SFI Committee is required to
confirm the Plan.

A full-text copy of the annual report is available for free at:

                http://researcharchives.com/t/s?5745

                           About Six Flags

Headquartered in New York City, Six Flags, Inc., is the world's
largest regional theme park company with 19 parks across the
United States, Mexico and Canada.

Six Flags filed for Chapter 11 protection on June 13, 2009 (Bankr.
D. Del. Lead Case No. 09-12019).  Paul E. Harner, Esq., Steven T.
Catlett, Esq., and Christian M. Auty, Esq., at Paul, Hastings,
Janofsky & Walker LLP in Chicago, Illinois, act as the Debtors'
lead counsel.  Daniel J. DeFranceschi, Esq., and L. Katherine
Good, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware, act as local counsel.  Cadwalader Wickersham & Taft LLP,
serves as special counsel.  Houlihan Lokey Howard & Zukin Capital
Inc., serves as financial advisors, while KPMG LLC acts as
accountants.  Kurtzman Carson Consultants LLC serves as claims and
notice agent.  As of March 31, 2009, Six Flags had $2,907,335,000
in total assets and $3,431,647,000 in total liabilities.

Bankruptcy Creditors' Service, Inc., publishes Six Flags
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Six Flags Inc. and its
various affiliates.  (http://bankrupt.com/newsstand/or 215/945-
7000).


STERLING MINING: Kootenay Gold Joins Alberta's Bid to Acquire Firm
------------------------------------------------------------------
Alberta Star Development Corp. has entered into a letter agreement
with Kootenay Gold Inc, whereby the Company and Kootenay have
agreed to cooperate in a joint bid to acquire a 100% interest in
Sterling Mining Company and its assets, and provide for financing
of Sterling's continuing operations and development. The Company
is a "qualified bidder" under the Sterling plan of reorganization.

Based in Coeur d'Alene, Idaho, Sterling Mining Company (OTCBB:SRLM
and FSE:SMX) -- http://www.SterlingMining.com/-- is a mineral
resource development and exploration company. Sterling is engaged
in the business of acquiring, exploring, developing and mining
mineral properties primarily those containing silver and
associated base and precious metals. Sterling operates the
Sunshine Silver Mine in Idaho and has exploration projects in
Idaho, U.S.A. Sterling was incorporated under the laws of the
State of Idaho on February 3, 1903 and its common shares are
currently listed on the OTCBB: SRLMQ and Frankfurt Stock Exchange:
SMX.

Sterling is currently a debtor-in-possession in Chapter 11
Bankruptcy in the District of Idaho, U.S.A. Sterling Mining filed
for bankruptcy protection on March 3, 2009 (Bankr. D. Idaho Case
No. 09-20178).  Bruce A. Anderson, Esq., at Elsaesser Jarzabek
Anderson Marks Elliott & McHugh, Chartered represents the Debtor
as counsel.

As of September 30, 2008, Sterling Mining had $31.9 million in
total assets, and $13.2 million in total current liabilities and
$1.6 million in total long-term liabilities.  In its schedules,
the Debtor listed total assets of $11,706,761 and total debts of
$14,159,010.


STRIVE ENTERPRISES: Selling Assets for $10,000
----------------------------------------------
Subject to any higher and better offers, Strive Enterprises, Inc.,
has agreed to sell its telephone numbers (877-941-8784, 724-941-
8784 and 724-941,6475), one Dell Dimension 5400 desktop computer,
two custom desktops, software and a customer database, five desks
and chairs with ten file cabinets, and a phone system with five
phones, to Strive Fit LLC for $10,000.  Notice of the sale
appeared in the Tribune-Review last week.

Strive Enterprises, Inc., sought Chapter 11 protection (Bankr.
W.D. Pa. Case No. 09-27047) on Sept. 23, 2009; is represented by
Robert O. Lampl, Esq., in Pittsburgh; and estimated its assets at
$100,000 to $500,000 and debts at more tha $10 million at the time
of the filing.


SWOOZIE'S INC: Eyes Rapid Asset Sale; Has $3.5MM DIP Loan
---------------------------------------------------------
netDockets reports that Swoozie's Inc. is seeking a rapid sale or
liquidation of its assets.  netDockets also relates Wells Fargo
Bank, N.A. has agreed to provide $3.5 million in debtor-in-
possession financing to the Debtor.

According to netDockets, Swoozie's filed for bankruptcy amid a
failure of its stores to perform to expectations, particularly the
former Blue Tulip stores that it acquired from that company's
chapter 11 case.

                      About Swoozie's Inc.

Swoozie's Inc. is a luxury gift and paper retail chain, operating
in 15 states with 43 locations.  It was founded in 2001 in
Atlanta, Georgia, by Kelly Plank Dworkin and the late David
Dworkin.

Swoozie's filed for Chapter 11 bankruptcy on March 2, 2010 (Bankr.
N.D. Ga. Case. No. 10-66316).  Judge C. Ray Mullins presides over
the case.  Dennis Connolly, Esq., and Wendy R. Reiss, at Alston &
Bird, LLP, in Atlanta, Georgia, serves as bankruptcy counsel.  Lee
Diercks at Clear Thinking Group LLC serves as the Debtor's
financial advisor.  In its petition, the Debtor listed estimated
assets of $1,000,001 to $10,000,000, and estimated debts of
$10,000,001 to $50,000,000.


SWOOZIE'S INC: U.S. Trustee Appoints 7-Member Creditors Panel
-------------------------------------------------------------
netDockets reports that the United States Trustee for Region 21
appointed seven members to an Official Committee of Unsecured
Creditors in the bankruptcy case of Swoozie's Inc.

The Committee members are:

     1. Design Design, Inc.;
     2. Mud Pie;
     3. Creative Containers Corp.;
     4. Dennis East International, LLC;
     5. Inviting Company;
     6. Patience Brewster, Inc.; and
     7. Heartstrings Enterprises

netDockets says Swoozie's largest equity holders are three private
equity firms: TWJ Capital Opportunity Fund I, L.P. (31.0%);
Northwood Ventures, LLC (27.7%); and Brand Equity Ventures II,
L.P. (26.1%).

                      About Swoozie's Inc.

Swoozie's Inc. is a luxury gift and paper retail chain, operating
in 15 states with 43 locations.  It was founded in 2001 in
Atlanta, Georgia, by Kelly Plank Dworkin and the late David
Dworkin.

Swoozie's filed for Chapter 11 bankruptcy on March 2, 2010 (Bankr.
N.D. Ga. Case. No. 10-66316).  Judge C. Ray Mullins presides over
the case.  Dennis Connolly, Esq., and Wendy R. Reiss, at Alston &
Bird, LLP, in Atlanta, Georgia, serves as bankruptcy counsel.  Lee
Diercks at Clear Thinking Group LLC serves as the Debtor's
financial advisor.  In its petition, the Debtor listed estimated
assets of $1,000,001 to $10,000,000, and estimated debts of
$10,000,001 to $50,000,000.


SWORDFISH FINANCIAL: Posts $2.0 Million Loss in Q3 2009
-------------------------------------------------------
Swordfish Financial, Inc., filed its quarterly report on Form
10-Q, showing a net loss of $2.0 million on $739,556 of revenue
for the three monhts ended September 30, 2009, compared with a net
loss of $980,472 on $2.2 million of revenue for the same period of
2008.

The Company's balance sheet as of September 30, 2009, showed
$3.7 million in assets and $5.0 million of debts, for a
stockholders' deficit of $1.3 million.

The Company incurred net losses for both the nine months ended
September 30, 2009, and 2008, and had an accumulated deficit of
$12.3 million as of September 30, 2009.  The Company is currently
in default of a $450,000 note with its former CEO and is in
negotiations to extend the terms.  The Company is currently in
default on its line of credit with a bank and in August 2008 it
entered into a voluntary surrender agreement allowing the bank
with its superior lien position to assume control of the Company's
assets and operations until it liquidates sufficient assets to pay
off the line of credit which is $873,288 at September 30, 2009.
The Company is in default on $603,950 of other notes payable.

A full-text copy of the quarterly report is available for free at:

               http://researcharchives.com/t/s?5746

                        About the Company

Rockwall, Tex.-based Swordfish Financial, Inc., formerly Nature
Vision, Inc., designed, manufactured and marketed outdoor
recreation products primarily for the sport fishing and hunting
markets.  Based on the limited assets, product lines and resources
remaining after the M&I Business Credit LLC liquidation, Swordfish
Financial, Inc. has decided that there is not enough remaining of
the Nature Vision operations to continue as an outdoor
recreations products company and will concentrate on the business
on being an asset recovery company and using the financial
resources recovered to retire the Company's debts and invest in
other businesses domestically and internationally.


THE PMI GROUP: Net Loss Narrows to $659.3 Million in 2009
---------------------------------------------------------
The PMI Group, Inc., filed its quarterly report on Form 10-K,
showing a net loss of $659.3 million on revenue of $923.9 million
for 2009, compared with a net loss of $928.5 million on revenue of
$907.8 million for 2008.

The Company's consolidated balance sheet as of Dec. 31, 2009,
showed $4.6 billion in assets, $3.9 billion of debts, and
$727.0 million of stockholders' equity.

On October 27, 2009, Standard & Poor's placed its ratings for
several participants in the U.S. mortgage insurance industry on
CreditWatch with negative implications.  On December 22, 2009, S&P
concluded their CreditWatch which resulted in a downgrade to PMI
Mortgage Insurance Co., PMI Insurance Co., and PMI Europe to 'B+'
from 'BB-' and to The PMI Group, Inc. to 'CCC+' from 'B-'.  The
ratings were removed from CreditWatch and assigned a negative
outlook.

On December 9, 2009, Fitch downgraded CMG Mortgage Insurance
Company's insurer financial strength rating to 'BBB' from 'A+'.
The ratings outlook remains negative.  Fitch officially withdrew
ratings for The PMI Group, Inc. and subsidiaries as of May 12,
2009.

On February 4, 2010, Moody's downgraded the Insurance Financial
Strength ratings of PMI Mortgage Insurance Co. and PMI Insurance
Co. to 'B2' from 'Ba3'.  PMI Europe was downgraded to 'B3' from
'B1'.  The credit rating of The PMI Group, Inc. was downgraded to
'Caa2' from 'B3'.  The ratings outlook was changed from developing
to negative for all remaining rated entities.

On February 17, 2010, S&P downgraded CMG Mortgage Insurance
Company to 'BBB' from 'BBB+' with a negative outlook and removed
the company from CreditWatch.

On February 18, 2010, Moody's withdrew the ratings for PMI
Insurance Co. and PMI Europe and the Company expects that S&P will
withdraw their ratings for these two companies during the first
quarter of 2010.

The Company's senior unsecured debt is rated "CCC+" by S&P and
"Caa2" by Moody's.  A downgrade of the Company's senior unsecured
debt ratings could increase the Company's borrowing costs and,
therefore, adversely affect the company's liquidity.

A full-text copy of the quarterly report is available for free at:

               http://researcharchives.com/t/s?578e

Walnut Creek, Calif.-based The PMI Group, Inc., through its
subsidiary, PMI Mortgage Insurance Co. and its affiliated
companies, provides residential mortgage insurance in the United
States.


THORNBURG MORTGAGE: April 21 Pre-Trial Conference on Trustee Suit
-----------------------------------------------------------------
Dow Jones Newswires' Patrick Fitzgerald says a pre-trial
conference is slated for April 21 in Baltimore, Maryland, in the
complaint filed by Joel I. Sher, the Chapter 11 trustee overseeing
the liquidation of TMST Inc., formerly Thornburg Mortgage Inc.,
against former Thornburg executives and others.

As reported by the Troubled Company Reporter on March 5, 2010, the
bankruptcy trustee sued Company executives contending they
conspired to start a new business -- Thornburg Mortgage Advisory
Corporation -- using cash and information taken from Thornburg.
The trustee seeks "redress for the millions of dollars in damages"
the senior officers have allegedly caused the Debtors.

"Faced with an impending bankruptcy, two of the Debtors' senior
officers, together with one of the Debtors' most trusted
attorneys, embarked upon a multi-faceted conspiracy in which they
converted substantial amounts of the Debtors' cash, proprietary
and confidential information and used the Debtors' personnel and
fixed assets to start up a secret new business venture, the
concept for which was first developed by the Debtors as a way to
avoid financial ruin," the trustee said in the complaint.

Dow Jones says the Chapter 11 Trustee is seeking $12 million from
former Thornburg executives for damages from their breach of their
duty of loyalty to Thornburg.  The Chapter 11 Trustee also seeks
$10 million against Karen A. Dempsey, Esq., and her law firm
Orrick Herrington Sutcliffe for legal malpractice.

Dow Jones reports Mr. Sher said Thornburg's former CEO Larry A.
Goldstone, along with Ms. Dempsey, got rid of their bankruptcy
lawyers -- Kirkland & Ellis and Pachulski Stang Ziehl & Jones --
because they advised them not to go ahead with the transfer before
filing for Chapter 11 and getting approval from the bankruptcy
court.

                     About Thornburg Mortgage

Based in Santa Fe, New Mexico, Thornburg Mortgage Inc. (NYSE: TMA)
-- http://www.thornburgmortgage.com/-- was a single-family
residential mortgage lender focused principally on prime and
super-prime borrowers seeking jumbo and super-jumbo adjustable
rate mortgages.  It originated, acquired, and retained investments
in adjustable and variable rate mortgage assets.  Its ARM assets
comprised of purchased ARM assets and ARM loans, including
traditional ARM assets and hybrid ARM assets.

Thornburg Mortgage, Inc., and its four affiliates filed for
Chapter 11 on May 1 (Bankr. D. Md. Lead Case No. 09-17787).
Thornburg has changed its name to TMST, Inc.

Judge Duncan W. Keir is handling the case.  David E. Rice, Esq.,
at Venable LLP, in Baltimore, Maryland, has been tapped as
counsel.  Orrick, Herrington & Sutcliffe LLP is employed as
special counsel.  Jim Murray, and David Hilty, at Houlihan Lokey
Howard & Zukin Capital, Inc., have been tapped as investment
banker and financial advisor.  Protiviti Inc. has also been
engaged for financial advisory services.  KPMG LLP is the tax
consultant.  Epiq Systems, Inc., is claims and noticing agent.  In
its bankruptcy petition, Thornburg listed total assets of
$24,400,000,000 and total debts of $24,700,000,000, as of
January 31, 2009.

On October 28, 2009, the Court approved the appointment of Joel I.
Sher as the Chapter 11 Trustee for the Company, TMST Acquisition
Subsidiary, Inc., TMST Home Loans, Inc. and TMST Hedging
Strategies, Inc.


TOM HARMON LOGGING: Files for Chapter 11 Bankruptcy in Oregon
-------------------------------------------------------------
Tom Harmon Logging LLC made a voluntary filing under Chapter 11 in
the U.S. Bankruptcy Court for the District of Oregon, listing
assets between $500,000 and $1 million, and liabilities of between
$1 million and $10 million, according to Business Journal of
Portland.  The Company expects to have funds available for
unsecured creditors.

Tom Harmon Logging LLC operates a logging company in Lakeview,
Portland.  Stephen Behrends, Esq., at Behrends Swingdoff Haines &
Critchlow PC of Eugene represents the Company.


TOWER AUTOMOTIVE: To Sell $100 Million of Stock in IPO
------------------------------------------------------
Tower International Inc., or Tower Automotive LLC, announced plans
to sell up to an estimated $100 million of stock in an initial
public offering.

Cerberus Capital Management LP acquired Tower Automotive out of
bankruptcy in early 2007 for roughly $1 billion.

Jon C. Ogg at 247wallst.com says Tower does not list any shares or
terms and did not list an exchange or a proposed stock ticker.
According to 247wallst.com, Goldman Sachs and Citigroup are the
only two listed underwriters in the deal.

Dow Jones Newswires' Tess Stynes reports that Tower last year
reported a loss of $67.9 million on revenue of $1.63 billion,
compared with a prior-year loss of $52.3 million on $2.17 billion
of sales.  Dow Jones says the offering is the latest by a private-
equity firm looking to cash in on some of its holdings.  According
to Dow Jones, prospects have been improving for auto-parts makers
since General Motors Co. and Chrysler LLC have re-emerged from
bankruptcy last year and consumers have returned to showrooms,
with General Motors in January predicting that it would make money
this year.

                      About Tower Automotive

Headquartered in Grand Rapids, Michigan, Tower Automotive Inc.
-- http://www.towerautomotive.com/-- is one of the largest
independent global suppliers of automotive metal structural
components and assemblies.  It serves virtually every major
automotive vehicle manufacturer, providing a broad range of metal
structures from stampings to complex body and frame assemblies.

With corporate headquarters in Livonia, Michigan, U.S., Tower's
7,400 colleagues operate from roughly 30 manufacturing and product
development facilities in 11 countries in North and South America,
Europe and Asia.

The company and 25 of its debtor-affiliates filed voluntary
Chapter 11 petitions on February 2, 2005 (Bankr. S.D.N.Y. Case No.
05-10576 through 05-10601).  James H.M. Sprayregen, Esq., Ryan
B. Bennett, Esq., Anup Sathy, Esq., Jason D. Horwitz, Esq., and
Ross M. Kwasteniet, Esq., at Kirkland & Ellis, LLP, represented
the Debtors in their restructuring efforts.  Ira S. Dizengoff,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represented the
Official Committee of Unsecured Creditors.  When the Debtors filed
for protection from their creditors, they listed US$787,948,000 in
total assets and US$1,306,949,000 in total debts.

On July 11, 2007, the Court confirmed the Debtors' Amended Chapter
11 Plan and the Debtors emerged from Chapter 11 on July 31, 2007.


TRIBUNE CO: Withdraws Motion for Bonuses to Top Officers
--------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Tribune Co., at the
suggestion of the bankruptcy judge, dropped a request for approval
of as much as $20 million in bonuses to its top 30 or 40 officers.
Tribune will wrap the bonus proposal into the reorganization plan.

According to the report, the bankruptcy judge at the end of
January authorized paying $45.6 million in bonuses to some 720
managers.  At the time, the judge held back on ruling on the
propriety of bonuses to the top officers. He suggested that the
controversy be avoided for now by making the bonuses part of a
Chapter 11 plan.

                        About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection on Dec. 8, 2008 (Bankr. D. Del. Lead Case No. 08-
13141).  The Debtors proposed Sidley Austion LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North Americal LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.

Bankruptcy Creditors' Service, Inc., publishes Tribune Bankruptcy
News.  The newsletter tracks the chapter 11 proceeding undertaken
by Tribune Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRINITY FRECISION: Case Summary & 2 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Trinity Frecision Flow Control, LLC
        9750 South 219th East Ave.
        Broken Arrow, OK 74104

Bankruptcy Case No.: 10-10635

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Northern District of Oklahoma (Tulsa)

Judge: Dana L. Rasure

Debtor's Counsel: Bonnie N. Hackler, Esq.
                  Hall, Estill, et al
                  320 South Boston Avenue, Suite 400
                  Tulsa, OK 74103
                  Tel: (918) 594-0627
                  Email: bhackler@hallestill.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $0,000,001 to $50,000,000

A list of the Company's 2 largest unsecured creditors is available
for free at http://bankrupt.com/misc/oknb10-10635.pdf

The petition was signed by Dennis Llewellyn.


TROPICANA ENTERTAINMENT: Emerges From Bankruptcy as Icahn Owned
---------------------------------------------------------------
Carl C. Icahn disclosed that effective March 8 Tropicana
Entertainment Inc. has successfully emerged from the Chapter 11
reorganization process as an invigorated new company reunited with
its signature property in Atlantic City and well-positioned to
succeed in today's challenging business environment.  The Company
operates nine properties in five states ranging from Nevada to New
Jersey, which comprise approximately 6,000 hotel rooms and over
450,000 square feet of gaming space.  Affiliates of Mr. Icahn own
approximately 47% of the Company and are also lenders under the
Company's new exit facility.

As a result of the restructuring, Tropicana eliminated
approximately $2.5 billion of pre-existing indebtedness, renewed
its gaming licenses in the five states where it operates, restored
relationships with its customers, regulators and employees,
installed experienced management at each of its properties, and
secured $150 million in exit financing to repay its DIP facility
and invest in its facilities.

Tropicana Entertainment is the first major company in the gaming
industry to successfully complete a Chapter 11 reorganization
necessitated in part by the combined effects of collapsed
commercial credit markets and associated declines in the U.S.
consumer economy.

"The company has undergone a complete transformation," said
Tropicana CEO and President, Scott C. Butera, who joined the
company in 2008 to lead the restructuring.  "We are very pleased
that we have been able to turn the Company around in the wake of
the country's deep financial crisis.  We have also secured an
ownership group that has a long proven track record of success in
the gaming industry.  By constantly adjusting to market
conditions, we have built the foundations of our company in a way
that positions us to achieve profitable long term growth."

As part of the restructuring Mr. Butera attracted an entirely new
management team and established a governance structure with an
experienced board of directors.  The new group, with extensive
experience in the entertainment and gaming industry, ultimately
repaired the company's relationships with regulators as it gained
operating authority in critical gaming jurisdictions.

"We are very excited to be reunited with the Tropicana Atlantic
City Casino & Resort.  It is a magnificent property and I commend
the management and employees for their success during a very
challenging time."

"With a manageable level of debt and a more efficient operating
style, we are ready to start making investments in sustainable
revenue growth," Mr. Butera said.  "They will be modest and
targeted at first, but we expect over time to deploy our capital
in ways that will generate significant returns to our investors."

As the company worked its way through the reorganization process,
it took aggressive steps at the operating level.  All of the
company's properties are managed by executives who emphasize
efficiency and return on investment.  The company is also
enhancing customer service at each property and is in the process
of upgrading its marketing and promotion programs to employ a more
targeted, data-driven approach that relies heavily on proven
database marketing concepts as a way to engage and retain
customers.

"That we have come this far is testimony to the dedication of the
entire Tropicana team," Mr. Butera said.  "Our new owners; our
advisors, creditors and vendors; our management group; and, most
important, our team members, all deserve tremendous credit for the
work they have done to help put us on the right track for the
future."

                   About Tropicana Entertainment

Tropicana Entertainment LLC and its units owned eleven casino
properties in eight distinct gaming markets with premier
properties in Las Vegas, Nevada, and Atlantic City, New Jersey.

Tropicana Entertainment LLC and certain affiliates filed for
Chapter 11 protection on May 5, 2008 (Bankr. D. Del. Case No. 08-
10856).  Kirkland & Ellis LLP and Mark D. Collins, Esq., at
Richards Layton & Finger, represent the Debtors in their
restructuring efforts.  Their financial advisor is Lazard Ltd.
Their notice, claims, and balloting agent is Kurtzman Carson
Consultants LLC.  Epiq Bankruptcy Solutions LLC is the Debtors'
Web site administration agent.  AlixPartners LLP is the Debtors'
restructuring advisor.  Stroock & Stroock & Lavan LLP and Morris
Nichols Arsht & Tunnell LLP represent the Official Committee of
Unsecured Creditors in this case.  Capstone Advisory Group LLC is
financial advisor to the Creditors' Committee.

The OpCo Debtors, a group of Tropicana entities owning casinos and
resorts in Atlantic City, New Jersey and Evansville, Indiana have
obtained confirmation from the Bankruptcy Court of a
reorganization plan.  A group of Tropicana entities, known as the
LandCo Debtors, which own Tropicana casino property in Las Vegas,
have obtained approval of a separate Chapter 11 plan.

On April 29, 2009, non-debtor units of the OpCo Debtors,
designated as the New Jersey Debtors -- Adamar of New Jersey,
Inc., and its affiliate, Manchester Mall, Inc. -- filed for
Chapter 11 (Bankr. D. N.J. Lead Case No. 09- 20711) to effectuate
a sale of the Atlantic City Resort and Casino to a group of
Investors-led by Carl Icahn.   Judge Judith H. Wizmur presides
over the cases.  Manchester Mall is a wholly owned subsidiary of
Adamar that owns and operates certain real property utilized in
the New Jersey Debtors' business operations.

Ilana Volkov, Esq., and Michael D. Sirota, Esq., at Cole, Schotz,
Meisel, Forman & Leonard, in Hackensack, New Jersey, represent the
New Jersey Debtors.  Kurtzman Carson Consultants LLC acts as their
claims and notice agent.  Adamar disclosed $500 million to
$1 billion both in total assets and debts in its petition.
Manchester Mall disclosed $1 million to $10 million in total
assets, and less than $50,000 in total debts in its petition.

Bankruptcy Creditors' Service, Inc., publishes Tropicana
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Tropicana Entertainment LLC
and its affiliates.  (http://bankrupt.com/newsstand/or
215/945-7000)


TRUDY CORPORATION: Posts $75,549 Net Loss in Q3 Ended December 31
-----------------------------------------------------------------
Trudy Corporation filed its quarterly report on Form 10-Q, showing
a net loss of $75,549 for the three months ended December 31,
2009, compared with a net loss of $4,155 for the same period of
2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$4.06 million in assets and $6.03 million of debts, for a
stockholders' deficit of $1.97 million.

The Company has suffered recurring losses from operations and has
a deficiency in net assets.  "Such factors raise substantial doubt
about the Company's ability to continue as a going concern."

A full-text copy of the quarterly report is available for free at:

               http://researcharchives.com/t/s?5747

Norwalk, Conn.-based TTrudy Corporation publishes children's
books, eBooks and audiobooks and designs, manufactures and markets
plush stuffed toys, children's instruments and musical electronics
for sale directly to consumers in the United States and to
domestic and international retail and wholesale customers.  The
Company's products are sold under the trade names (i.e. imprints)
of Studio Mouse, Soundprints, Little Soundprints, Fetching Books,
Music for Little People and BeBop.


TRUMP ENTERTAINMENT: Gets Interim Access to Beal Bank Collateral
----------------------------------------------------------------
Dow Jones Newswires' Peg Brickley reports that Judge Judith Wizmur
in New Jersey ordered secured lenders Beal Bank and Carl Icahn to
continue to allow Trump Entertainment Resorts Inc. access to its
cash until she can weigh arguments that erupted early Friday
morning, in the middle of a contest over who will control the
company.

Trump Entertainment has been using Beal Bank's cash collateral
pursuant to a bankruptcy financing deal to fund its operations
under Chapter 11.  On Friday, Dow Jones relates, Trump
Entertainment counsel Michael Walsh, Esq., at Weil, Gotshal &
Manges, said Beal Bank and Mr. Icahn are arguing the Trump casinos
violated the bankruptcy financing arrangement and "are in contempt
if they don't shut down their businesses."  In an oral emergency
motion, Mr. Walsh told the Court the "inability to use cash
collateral would cause obviously very severe consequences to the
company."

Dow Jones says Judge Wizmur scheduled a full hearing on the
funding fight March 23.  "This is a Catch-22 situation," Judge
Wizmur said, according to Dow Jones.

Dow Jones also relates Icahn attorney Jeffrey Jonas, Esq., at
Brown Rudnick, denied the secured lenders want to shut down the
casinos.  According to Dow Jones, Mr. Jonas said given such a
risky scenario, the secured lenders want to make sure they get
their next "adequate protection" payment from Trump Entertainment,
$11 million due at the start of April.

Dow Jones also reports that Trump Entertainment said in court
documents it has already made $52 million worth of adequate
protection payments to Beal and Mr. Icahn since its February 2009
bankruptcy filing.  The Debtors argued that evidence from the
lenders' own experts indicates their collateral has seen only a
$6.3 million loss of value during that time.

Dow Jones says the Debtors are asking court permission to skip the
April adequate protection payment.  The Debtors also are asking
the Court to declare $45.8 million of the adequate protection
payments to be payments on the loan principal.  That would reduce
the amount of the secured debt bondholders must pay to take over
Trump Entertainment.

As reported by the Troubled Company Reporter on March 8, 2010, the
Debtors are asking the Court for authorization to:

   (i) incur up to $45 million in postpetition indebtedness with
       priority over administrative expenses and secured by liens
       on property of the estates, subject to the carve out; and

  (ii) amend the cash collateral order to provide for the
       continued use of cash collateral.

The Debtors intend to use the money to (a) operate their three
casino hotels in Atlantic City; and (b) make adequate protection
payments the First Lien Lenders under the cash collateral order.

The DIP Facility Lenders are Avenue Capital Management II, L.P.;
Contrarian Funds, LLC; Continental Casualty Company; GoldenTree
Asset Management, LP; MFC Global Investment Management U.S. LLC;
Northeast Investors Trust; Polygon Global Opportunities Master
Fund; Interstate 15 Holdings, Ltd., or affiliates.

Beal and Mr. Icahn are pursuing a rival plan for the Debtors.

                About Trump Entertainment Resorts

Based in Atlantic City, New Jersey, Trump Entertainment Resorts
Inc. (NASDAQ: TRMP) -- http://www.trumpcasinos.com/-- owns and
operates three casino hotel properties in Atlantic City, New
Jersey, which include Trump Taj Mahal Casino Resort, Trump Plaza
Hotel and Casino, and Trump Marina Hotel Casino.  The Company
conducts gaming activities and provides customers with casino
resort and entertainment.

Donald Trump is a shareholder of the Company and, as its non-
executive Chairman, is not involved in the daily operations of the
Company.  The Company is separate and distinct from Mr. Trump's
privately held real estate and other holdings.

Trump Entertainment Resorts, TCI 2 Holdings, LLC, and other
affiliates filed for Chapter 11 on February 17, 2009 (Bankr. D.
N.J., Lead Case No. 09-13654).  The Company has tapped Charles A.
Stanziale, Jr., Esq., at McCarter & English, LLP, as lead counsel,
and Weil Gotshal & Manges as co-counsel.  Ernst & Young LLP is the
Company's auditor and accountant and Lazard Freres & Co. LLC is
the financial advisor.  Garden City Group is the claims agent.
The Company disclosed assets of $2,055,555,000 and debts of
$1,737,726,000 as of December 31, 2008.

Trump Hotels & Casino Resorts, Inc., filed for Chapter 11
protection on Nov. 21, 2004 (Bankr. D. N.J. Case No. 04-46898
through 04-46925).  Trump Hotels' obtained the Court's
confirmation of its Chapter 11 plan on April 5, 2005, and in May
2005, it exited from bankruptcy under the name Trump Entertainment
Resorts Inc.


TWENTIETH & HIGHLAND: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Twentieth & Highland, LLC
        15509 N. Scottsdale Road
        Scottsdale, AZ 85254

Bankruptcy Case No.: 10-05806

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Debtor's Counsel: Bert L. Roos, Esq.
                  5045 N. 12th St, Suite B
                  Phoenix, AZ 85014
                  Tel: (602) 242-7869
                  Fax: (602) 242-5975
                  Email: blrpc85015@msn.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Debtor did not file a list of its 20 largest unsecured
creditors when it filed its petition.

The petition was signed by Dennis M. Naughton, general counsel of
the Company.


UAL CORP: Reports January 2010, Full Year 2009 Traffic Results
--------------------------------------------------------------
United Air Lines, Inc., reported its preliminary consolidated
traffic results for January 2010.  Total consolidated revenue
passenger miles (RPMs) increased in January by 2.4% on a decrease
of 2.0% in available seat miles (ASMs) compared with the same
period in 2009.  This resulted in a reported January 2010
consolidated passenger load factor of 78.5%, an increase of 3.4
points compared to 2009.  For January 2010, United reported a U.S.
Department of Transportation on-time arrival rate of 83.6%.  For
January 2010, consolidated passenger revenue per available seat
mile (PRASM) is estimated to have increased 9.5% to 11.5% year-
over-year.  Consolidated PRASM is estimated to have increased 2.0%
to 4.0% for January 2010 compared to January 2008.  Given the
significant volatility in the revenue environment in 2009,
management believes investors will find the year-over-two-year
comparison to be useful.

Shown is the year-over-year PRASM changes each month in the first
quarter of 2009 for United along with a comparison to the combined
Air Transport Association (ATA) carriers.  Additional historical
data can be found in the table at the end of this release.

                United's 2009           Higher/Lower than
              Consolidated PRASM          Industry (ATA)
            Increase/Decrease vs. 2008     including fees
            --------------------------   ------------------
January 2009            (6.7%)                  (4.0 points)
February 2009          (11.2%)                  (3.4 points)
March 2009             (15.0%)                  (1.2 points)

First Quarter 2009     (11.1%)                  (2.7 points)

Average January 2010 mainline fuel price, including gains or
losses on settled fuel hedges and excluding non-cash, mark-to-
market fuel hedge gains and losses, is estimated to be $2.22 per
gallon for the month.  Including non-cash, mark-to-market fuel
hedge gains and losses, the estimated fuel price is $3.12 per
gallon for the month.

                             2010        2009   Percent
                             Jan.        Jan.    Change
                            -----       -----   -------
Revenue passenger miles ('000)
North America            4,201,748   4,269,378     (1.6%)
Pacific                  1,798,877   1,816,011     (0.9%)
Atlantic                 1,315,151   1,230,230      6.9%
Latin America              326,074     333,506     (2.2%)
Total International      3,440,102   3,379,747      1.8%
Total Mainline           7,641,850   7,649,125     (0.1%)
Regional Affiliates      1,126,938     917,675     22.8%

Total Consolidated       8,768,788   8,566,800      2.4%

Available seat miles ('000)
North America            5,364,637   5,540,641     (3.2%)
Pacific                  2,106,664   2,355,115    (10.5%)
Atlantic                 1,715,454   1,707,637      0.5%
Latin America              400,242     456,028    (12.2%)
Total International      4,222,360   4,518,780     (6.6%)
Total Mainline           9,586,997  10,059,421     (4.7%)
Regional Affiliates      1,584,546   1,341,974     18.1%
Total Consolidated      11,171,543  11,401,395     (2.0%)

Load factor
North America                78.3%       77.1%   1.2 pts
Pacific                      85.4%       77.1%   8.3 pts
Atlantic                     76.7%       72.0%   4.7 pts
Latin America                81.5%       73.1%   8.4 pts
Total International          81.5%       74.8%   6.7 pts
Total Mainline               79.7%       76.0%   3.7 pts
Regional Affiliates          71.1%       68.4%   2.7 pts
Total Consolidated           78.5%       75.1%   3.4 pts

Revenue passenger boarded ('000)
Mainline                     4,024       4,220     (4.6%)
Regional Affiliates          2,021       1,730     16.8%
Total Consolidated           6,045       5,950      1.6%

Cargo ton miles (000)
Freight                    123,487      88,372     39.7%
Mail                        17,636      18,575     (5.1%)
Total Mainline             141,123     106,947     32.0%

Historical PRASM Data

                            Consolidated     Year-Over-Year
                                   PRASM             Change
                            ------------     --------------
January 2008                                           13.3%
February 2008                                           7.6%
March 2008                                              4.8%
First Quarter 2008            11.09 >/ASM               8.3%

April 2008                                              4.6%
May 2008                                                5.5%
June 2008                                               2.0%
Second Quarter 2008           12.39 >/ASM               3.9%

July 2008                                               3.8%
August 2008                                             5.8%
September 2008                                          6.0%
Third Quarter 2008            13.02 >/ASM               5.2%

October 2008                                            8.5%
November 2008                                          (0.6%)
December 2008                                          (2.2%)
Fourth Quarter 2008           11.96 >/ASM               2.1%

January 2009                                           (6.7%)
February 2009                                         (11.2%)
March 2009                                            (15.0%)
First Quarter 2009             9.86 >/ASM             (11.1%)

April 2009                                            (14.2%)
May 2009                                              (17.6%)
June 2009                                             (19.5%)
Second Quarter 2009           10.26 >/ASM             (17.2%)

July 2009                                             (14.9%)
August 2009                                           (15.1%)
September 2009                                        (14.2%)
Third Quarter 2009            11.10 >/ASM             (14.7%)

October 2009                                          (11.3%)
November 2009                                          (4.4%)
December 2009                                           1.5%
Fourth Quarter 2009           11.34 >/ASM              (5.2%)

Non-GAAP Reconciliations
January 2010

Mainline fuel price per gallon excluding
non-cash, net mark-to-market gains and losses        $2.22

Add: Non-cash, net mark to market gains
and losses per gallon                                $0.90
                                                -----------
Mainline fuel price per gallon                       $3.12
                                                ===========

                   About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.  (United Airlines
Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

UAL Corp. carries a 'Caa1' probability of default rating from
Moody's, 'B-' long term foreign issuer credit rating from Standard
& Poor's, and 'CCC' long term issuer default rating from Fitch.


UAL CORP: Seeking DOT Nod to Serve Haneda Airport
-------------------------------------------------
United Air Lines, Inc. (NASDAQ: UAUA), applied to the U.S.
Department of Transportation to provide non-stop air service from
San Francisco to Haneda Airport in downtown Tokyo.  United is
applying for one of four pairs of daily U.S. to Haneda slots that
are available to U.S. carriers under the recently approved US-
Japan Open Skies Agreement.

"We have been an active supporter of open skies between the
U.S. and Japan because we believe it benefits the customers and
communities we serve," said Mark Schwab, senior vice president for
Alliances, International and Regulatory Affairs.  "United has long
been a leader in trans-Pacific service, and we look forward to the
opportunity to deliver new options and an improved level on
convenience for customers traveling to and from Tokyo."

United's proposed San Francisco-Haneda flight would be its first
ever non-stop service between San Francisco and Tokyo's downtown
airport, which has been a mostly domestic airport.  San Francisco
is United's primary U.S. gateway to Asia and is a popular,
convenient hub for customers traveling to Tokyo from cities across
the United States, Mr. Schwab said.  At Haneda, passengers will
benefit from United's codeshare agreements with All Nippon
Airways, which will provide connecting service opportunities from
numerous cities in Japan and several cities in Asia.

United plans to serve the market with a Boeing 777-200 aircraft
with a three-class seating configuration, which will provide a
high-level of customer options and comfort on these long-haul
flights.  The B777 also provides ample cargo capacity between San
Francisco, United's cargo hub, and Haneda.

"Air travelers in San Francisco and the entire Bay Area
enthusiastically welcome United Airlines' plan to add service from
SFO to Tokyo's downtown airport," said Gavin Newsom, mayor of the
city and county of San Francisco.  "The new daily flight will
strengthen our historic business and tourism links with Japan's
commercial center, adding real convenience and cutting the overall
journey time for travelers throughout our region, California, and
across the U.S.  We will add our voice in strong support of
United's application to the U.S. Department of Transportation for
the opportunity to begin this important new air service to Tokyo's
Haneda Airport."

                   About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.  (United Airlines
Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

UAL Corp. carries a 'Caa1' probability of default rating from
Moody's, 'B-' long term foreign issuer credit rating from Standard
& Poor's, and 'CCC' long term issuer default rating from Fitch.


U.S. CONCRETE: Gets Deficiency Notice From NASDAQ
-------------------------------------------------
U.S. Concrete, Inc, has received a letter from The Nasdaq Stock
Market indicating that the bid price of the Company's common stock
for the last 30 consecutive business days had closed below the
minimum $1.00 per share required for continued listing under the
Nasdaq Marketplace Rules.  The Company has been provided an
initial period of 180 calendar days, or until September 7, 2010,
to regain compliance.  The letter states the Nasdaq staff will
provide written notification that the Company has achieved
compliance with the rule if at any time before September 7, 2010,
the bid price of the Company's common stock closes at $1.00 per
share or more for a minimum of 10 consecutive business days.

In the event the Company cannot demonstrate compliance with the
minimum bid price rule by September 7, 2010, the Nasdaq staff will
send the Company written notification that its securities are
subject to delisting.  At that time, the Company may appeal the
delisting determination to a hearings panel.  Alternatively, the
Company may be eligible for an additional grace period if it meets
the initial listing standards, with the exception of bid price,
for The Nasdaq Capital Market.

                        About U.S. Concrete

U.S. Concrete services the construction industry in several major
markets in the United States through its two business segments:
ready-mixed concrete and concrete-related products; and precast
concrete. The Company has 125 fixed and 11 portable ready-mixed
concrete plants, seven precast concrete plants and seven producing
aggregates facilities.  During 2008 (including acquired volumes),
these plant facilities produced approximately 6.3 million cubic
yards of ready-mixed concrete and 3.5 million tons of aggregates.


U.S. DRY CLEANING: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: U.S. Dry Cleaning Services Corporation,
        a Delaware corporation
          aka US Dry Cleaning Corporation
        4040 MacArthur Blvd., #305
        Newport Beach, CA 92660

Bankruptcy Case No.: 10-12748

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Robert N. Kwan

Debtor's Counsel: Garrick A. Hollander, Esq.
                  Winthrop Couchot
                  660 Newport Center Dr., Ste 400
                  Newport Beach, CA 92660
                  Tel: (949) 720-4150
                  Fax: (949) 720-4111
                  Email: sconnor@winthropcouchot.com

                  Marc .J Winthrop, Esq.
                  660 Newport Center Dr Ste 400
                  Newport Beach, CA 92660
                  Tel: (949) 720-4100
                  Email: pj@winthropcouchot.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $10,000,001 to $50,000,000

A full-text copy of the Debtor's petition, including a list of its
20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/cacb10-12748.pdf

The petition was signed by Robert Y. Lee, president of the
Company.

Debtor-affiliates that filed separate Chapter 11 petitions:

(1) Enivel, Inc., a Hawaii corporation
      dba Young Laundry
    Case No: 10-12735
    Estimated Assets: $1,000,000 to $10,000,000
    Estimated Debts: $10,000,000 to $50,000,000

(2) USDC Tuchman Indiana, Inc., a California corporation
      aka Tuchman Cleaners
    Case No: 10-12736
    Estimated Assets: $1,000,000 to $10,000,000
    Estimated Debts: $10,000,000 to $50,000,000

(3) Steam Press Holdings, Inc., a Hawaii Corporation
       aka Young Laundry
    Case No: 10-12740
    Estimated Assets: $1,000,000 to $10,000,000
    Estimated Debts: $10,000,000 to $50,000,000

(4) Cleaners Club Acquisition Sub, Inc., a California corporation
       aka Boston Cleaners
    Case No: 10-12742
    Estimated Assets: $1,000,000 to $10,000,000
    Estimated Debts: $10,000,000 to $50,000,000

(5) USDC Portsmouth, Inc.
       aka Zoots Cleaners
    Case No: 10-12743
    Estimated Assets: $1,000,000 to $10,000,000
    Estimated Debts: $10,000,000 to $50,000,000

(6) USDC Fresno, Inc., a California corporation
       aka One Hour Martinizing
       aka Regency Cleaners
    Case No: 10-12745
    Estimated Assets: $1,000,000 to $10,000,000
    Estimated Debts: $10,000,000 to $50,000,000

(7) USDC Fresno 2, Inc., a California corporation
       aka One Hour Martinizing
       aka Regency Cleaners
    Case No: 10-12746
    Estimated Assets: $1,000,000 to $10,000,000
    Estimated Debts: $10,000,000 to $50,000,000


VISTEON CORP: Court Approves Fee Review Committee
-------------------------------------------------
Bankruptcy Judge Christopher Sontchi for the District of Delaware
ordered the appointment of a fee examiner in the bankruptcy cases
of Visteon Corporation and its debtor affiliates.

The Debtors and the Official Committee of Unsecured Creditors to
conferred regarding the appointment of a fee examiner and the
establishment of related procedures concerning the fee examiner's
review of professional fee applications in the Chapter 11 cases.

At the parties' behest, the Court ordered that:

  (a) The Fee Review Committee, to be comprised of one
      representative of the Debtors, one representative
      designated by the Committee, and one representative from
      the U.S. Trustee's office, is being established and is
      vested with authority to take actions in accordance with
      a proposed fee review protocol, a full-text copy of which
      is available for free at:

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

  (b) The Fee Review Committee is designated as a party-in-
      interest in the Debtors' Chapter 11 cases and its members
      will have standing to appear before the Court in matters
      related to their review of professional fees and expenses
      incurred during the course of these Chapter 11 cases; and

  (c) The qualified immunity privileges provided to members of
      the Fee Review Committee are approved.

                        About Visteon Corp.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of $4,561,000,000 and debts
of $5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

Bankruptcy Creditors' Service, Inc., publishes Visteon Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of Visteon
Corp. and its debtor-affiliates.  (http://bankrupt.com/newsstand/
or 215/945-7000)


VISTEON CORP: Disclosure Statement Hearing Moved to April 13
------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware has again postponed the hearing to consider
the adequacy of the Disclosure Statement through April 13, 2010,
to allow Visteon Corporation and its debtor affiliates additional
time to consider an alternative plan.

The new hearing date is the third adjournment of the Disclosure
Statement Hearing.  The Hearing was originally scheduled for
January 28, 2010, and has since been moved to February 18, 2010,
and most recently to March 16, 2010.

Parties-in-interest are also given more time to file responses or
objections, if any, to the approval of the Disclosure Statement
through April 2, 2010, at 4:00 p.m. Eastern Time.

Visteon filed its Chapter 11 Plan and Disclosure Statement last
December 17, 2009.

                     The Chapter 11 Plan

Visteon's Chapter 11 Plan and Disclosure Statement were filed on
December 17, 2009.

The Committee, however, has opposed the Plan, arguing that it
"ultimately will not be confirmed."  The Plan contemplates a wipe
out of unsecured creditors.  The Plan also provides for these
terms:

-- The issuance of New Visteon Common Stock and a new senior
    secured loan by the Reorganized Debtors to discharge claims
    against and interest in the Debtors' estates.  In
    particular, the Plan contemplates the issuance of the New
    Senior Secured Loan and a portion of New Visteon Common
    Stock to the Term Loan Lenders in satisfaction and
    discharge of their claims;

-- The payment in full in cash of Administrative Claims, DIP
    Facility Claims, Priority Tax Claims, Professional Claims,
    and certain other Secured Claims from cash on hand and from
    the Debtors' existing assets;

-- The extinguishment of all interests in Visteon Corp.;

-- The reinstatement of Intercompany Interests and
    Intercompany Claims in the Reorganized Debtors' discretion;

-- The termination of the Pension Plans.  As a result, the
    Pension Benefit Guaranty Corporation will receive the
    remaining portion of the New Visteon Common Stock after the
    Term Loan Lenders' Claims are satisfied; and

-- No recovery for Holders of General Unsecured Claims.

In late January, Visteon Corporation is in talks with bondholders
over a proposal to give unsecured creditors some recovery rather
than nothing.  Visteon said that major institutions, who are
considerable Visteon bondholders, have reached out to the Debtors
and the Official Committee of Unsecured Creditors to discuss the
possibility of entering into a backstopped rights offering to
raise junior capital.  The changes could pave the way for a
consensual plan.

                        About Visteon Corp.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of $4,561,000,000 and debts
of $5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

Bankruptcy Creditors' Service, Inc., publishes Visteon Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of Visteon
Corp. and its debtor-affiliates.  (http://bankrupt.com/newsstand/
or 215/945-7000)


VISTEON CORP: Has Access to Cash Collateral Until March 17
----------------------------------------------------------
Bankruptcy Judge Christopher Sontchi formally signed an eleventh
supplemental interim cash collateral order on February 23, 2010.
The Supplemental Order gives the Debtors access to the cash
collateral through March 17, 2010.

A full-text copy of the 11th Supplemental Interim Cash Collateral
Order is available for free at:

     http://bankrupt.com/misc/Visteon_11thCashCollORD.pdf

The Court will convene another hearing on March 16, 2010, to
consider further approval of the Debtors' cash collateral use.
Objections are due no later than March 11.

                        About Visteon Corp.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of $4,561,000,000 and debts
of $5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

Bankruptcy Creditors' Service, Inc., publishes Visteon Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of Visteon
Corp. and its debtor-affiliates.  (http://bankrupt.com/newsstand/
or 215/945-7000)


VISTEON CORP: To Settle Condemnation Suit With Puerto Rico
----------------------------------------------------------
Visteon Corp. and its units ask the Court to authorize them to
enter into a settlement agreement with the Commonwealth of Puerto
Rico with respect to a condemnation of a certain property located
in Puerto Rico.

Mark M. Billion, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware, relates that Debtor Visteon Caribbean, Inc.
and Plaza Noreste, S.E., executed an Offer and Purchase Agreement
dated June 1, 1998, pursuant to which Visteon Caribbean granted
to Plaza Noreste an option to purchase 26.78 acres of land
located at the Canovanas Industrial Zone, in Canovanas, Puerto
Rico.  The Commonwealth of Puerto Rico, however, (i) filed a
lawsuit in October 2000 in the Court of First Instance of Puerto
Rico, San Juan Part, for condemnation of the Canovanas Property,
and (ii) named Visteon Caribbean, Plaza Noreste, and Eduardo
Ferrer Bolivar, managing partner of Plaza Noreste, as parties-in-
interest in the action.  Puerto Rico deposited $1,113,000 with
the Puerto Rico Court as the estimated just value of the
Canovanas Property.  At the time of the lawsuit filing, Plaza
Noreste had not exercised its option to purchase the Property.

By May 2004, the Puerto Rico Circuit Court of Appeals issued a
judgment finding that the named condemnation parties could remain
as parties-in-interest in the Condemnation Litigation, but that
Visteon Caribbean would be the only party permitted to litigate
the just value of the Property.

Thereafter, Visteon Caribbean and Plaza Noreste presented their
own appraisal of the Property based on different zoning
classifications.  They subsequently entered into a release and
settlement agreement in October 2004, whereby (i) Visteon
Caribbean agreed to consent to any settlement offer that would
cause it to receive at least $4,200,000 net, (ii) Visteon
Caribbean would be entitled to a minimum of $4,200,000 for any
settlement offer less the $1,113,000 amount already received by
Visteon Caribbean's counsel; (iii) any award in excess of
$4,200,000 would be paid first to reimburse Plaza Noreste's
counsel fees and expenses, and then to Visteon Caribbean's fees
and expenses associated with the Condemnation Litigation -- with
any remaining amount to be divided between Visteon Caribbean and
Plaza Noreste in the proportions of 20% and 80% respectively; and
(iv) in exchange for the consideration, Plaza Noreste and Mr.
Ferrer would release Visteon Caribbean from any and all claims,
debts and liabilities arising from the Condemnation Litigation.

By September 4, 2007, Visteon Caribbean appraised the just value
of the Property at $17,300,000 based on a "commercial" zoning
classification.

By February 1, 2008, Puerto Rico appraised the just value of the
Property at $14,600,000 based on a "commercial" zoning
classification at the time of the Condemnation Litigation's
filing and prior to netting amounts in connection with certain
environmental issues on the Property.  The appraisal then
deducted an aggregate amount of $8,600,000 in connection with
those environmental issues, resulting in a valuation of
$6,000,000, about $1,113,000 of which Puerto Rico had paid at the
commencement of the Condemnation Litigation.

Pursuant to its 2008 appraisal, Puerto Rico made two payments,
aggregating $4,887,000, in 2008 to Visteon Caribbean plus
$1,154,470 in interest, as consideration for the Property's
condemnation.  Visteon Caribbean subsequently distributed the
payments pursuant to the terms of the 2004 Release and
Settlement, but continued to pursue the interest of the
Condemnation Parties in the Condemnation Litigation.

After engaging in extensive, arm's-length negotiations, the
Parties seek to enter into a settlement agreement to resolve the
disputed valuation of the Property, which provides that:

  (a) Puerto Rico Industrial Development Corporation will pay
      Visteon Caribbean a settlement amount of $7,250,000 in
      eight quarterly installments:

       * An initial payment of $2,000,000 will be made on or
         before June 30, 2010.

       * Four quarterly payments of $812,500 each will be made
         on or about the 30th day of September 2010, December
         2010, March 2011, and June 2011.

       * Two payments of $666,666 each will be made on or about
         the 30th day of September and December 2011.

       * A final payment of $666,666 will be made on or about
         March 30, 2012.

  (b) The settlement amount will be deposited at the Puerto Rico
      Court and is in addition to the amounts Puerto Rico paid
      in 2000 and 2008, for a total payment to Visteon Caribbean
      on behalf of the Condemnation Parties of $13,250,000,
      excluding interest; and

  (c) In exchange, the Condemnation Parties will release Puerto
      Rico from any further claims regarding the just value of
      the Property.

A full-text copy of the Settlement Agreement is available for
free at http://bankrupt.com/misc/Visteon_PuertoAgreement.pdf

                        About Visteon Corp.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of $4,561,000,000 and debts
of $5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

Bankruptcy Creditors' Service, Inc., publishes Visteon Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of Visteon
Corp. and its debtor-affiliates.  (http://bankrupt.com/newsstand/
or 215/945-7000)


VITERRA INC: S&P Raises Corporate Credit Rating From 'BB+'
----------------------------------------------------------
Standard & Poor's Ratings Services said it raised its long-term
corporate credit rating on Regina, Sask.-based grain handler
Viterra Inc. to 'BBB-' from 'BB+'.  The outlook is stable.

"S&P base the upgrade on its view that Viterra has materially
enhanced its business risk profile with the acquisition of
Australia-based ABB Grain Ltd., and that it will continue to
finance its growth in a manner that preserves investment-grade
credit measures," said Standard & Poor's credit analyst Donald
Marleau.

At the same time, S&P affirmed the 'BBB' issue-level rating on the
company's C$800 million secured credit facility and the 'BB+'
issue-level rating on Viterra's unsecured bonds.  S&P withdrew the
'1' recovery rating on the facility and the '4' recovery rating on
the unsecured debt because these no longer apply given that the
corporate credit rating on Viterra is now investment-grade.

Viterra is Canada's largest agribusiness and among the largest in
Australia, with combined pro forma revenue of about C$9 billion in
2009.  Viterra's three business segments provide grain handling
and marketing services from western Canada and South Australia;
retailing and financial services to farmers in its grain
origination territories; and food and feed processing.

"The ratings on Viterra reflect what S&P consider the company's
satisfactory business risk profile, which is supported by strong
market positions in key grain-producing regions in Canada and
Australia and more modest positions in downstream agribusiness and
processing," Mr. Marleau added.

With the acquisition of ABB Grain, Viterra adds a dominant
position in grain handling and export in South Australia to its
strong market share in western Canada grain receivals.  S&P
believes that the resulting improved geographic diversity,
operating breadth, and counter-seasonal cash flows should
contribute to more stable profitability in this inherently
cyclical industry.  On the other hand, S&P believes that the risks
stemming from the company's growth-by-acquisition strategy could
be exacerbated by unpredictable crop conditions in western Canada
and Australia and the commodity nature of most of its business.
As such, S&P expects the company to maintain an intermediate
financial risk profile, with a moderate leverage target of 3x debt
to EBITDA supported by solid liquidity, even as it acquires other
businesses to grow.

The stable outlook reflects S&P's expectation that Viterra will
preserve its investment-grade capital structure while executing
complementary acquisitions, such as ABB.  S&P believes that
pressure on the ratings or outlook could stem if a protracted
decline in profitability or more aggressively financed
acquisitions push debt to EBITDA significantly above 3x with
concurrently poor visibility on lower leverage or weaker
liquidity.  On the other hand, further upward revisions to the
rating or a revised outlook would likely result only if the
company continued to enhance its business risk profile by
executing its growth strategy, while keeping leverage below 2.5x
on a sustained basis, along with maintaining good liquidity.


VULCAN ADVANCED: Section 341(a) Meeting Scheduled for March 31
--------------------------------------------------------------
The U.S. Trustee for Region 3 will convene a meeting of creditors
in Vulcan Advanced Mobile Power Systems, L.L.C.'s Chapter 11 case
on March 31, 2010, at 9:30 a.m.  The meeting will be held at J.
Caleb Boggs Federal Building, 844 King Street, 2nd Floor, Room
2112, Wilmington, DE 19801.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

New York-based Vulcan Advanced Mobile Power Systems, L.L.C., filed
for Chapter 11 bankruptcy protection on February 12, 2010 (Bankr.
D. Delaware Case No. 10-10442).  William David Sullivan, Esq., at
Sullivan Hazeltine Allinson LLC, assists the Company in its
restructuring effort.  The Company listed $1,000,001 to
$10,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


VULCAN ADVANCED: Wants March 16 Deadline for Filing of Schedules
----------------------------------------------------------------
Vulcan Advanced Mobile Power Systems, L.L.C., has asked the U.S.
Bankruptcy Court for the District of Delaware to extend until
March 16, 2010, the filing of schedules of assets and liabilities,
schedules of executor contracts and unexpired leases, and
statements of financial affairs.

The Debtor says that its president, Ford Graham, will be out of
the country until on or around March 7, 2010, a week after the
schedules were due.  The Debtor states that without Mr. Graham's
supervision and knowledge, it will be difficult to verify the
accuracy and completeness of the schedules.  The Debtor
anticipates that it will need additional time to complete the
schedules.

New York-based Vulcan Advanced Mobile Power Systems, L.L.C., filed
for Chapter 11 bankruptcy protection on February 12, 2010 (Bankr.
D. Delaware Case No. 10-10442).  William David Sullivan, Esq., at
Sullivan Hazeltine Allinson LLC, assists the Company in its
restructuring effort.  The Company listed $1,000,001 to
$10,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


WATERFORD PLACE: Case Summary & 4 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Waterford Place Apartments, LLC
          dba Waterford Place Apartments, I, LLC
        PO Box 775
        Belvidere, IL 61008

Bankruptcy Case No.: 10-71031

Chapter 11 Petition Date: March 5, 2010

Court: United States Bankruptcy Court
       Northern District of Illinois (Rockford)

Judge: Manuel Barbosa

Debtor's Counsel: Bernard J. Natale, Esq.
                  6833 Stalter Drive, Suite 201
                  Rockford, IL 61108
                  Tel: (815) 964-4700
                  Fax: (815) 227-5532
                  Email: natalelaw@bjnatalelaw.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

According to the schedules, the Company has assets of $1,356,743
and total debts of $1,883,830.

A full-text copy of the Debtor's petition, including a list of its
4 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/ilnb10-71031.pdf

The petition was signed by Joey Sanfilippo, manager of the
Company.


WAYNE STEPHEN: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Wayne A. Stephen
               Lisa A. Stephen
                 dba Spectra Stone
               1877 Wolf Creek Road
               Cuba, NY 14727

Bankruptcy Case No.: 10-10377

Chapter 11 Petition Date: March 4, 2010

Court: United States Bankruptcy Court
       Western District of Pennsylvania (Erie)

Judge: Thomas P. Agresti

Debtors' Counsel: Stephen H. Hutzelman, Esq.
                  Plate Shapira Hutzelman Berlin May et al
                  305 West Sixth Street
                  Erie, PA 16507
                  Tel: (814) 452-6800
                  Fax: (814) 456-2227
                  Email: shutzelman@shapiralaw.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A full-text copy of the Debtors' petition, including a list of
their 20 largest unsecured creditors, is available for free at:

            http://bankrupt.com/misc/pawb10-10377.pdf

The petition was signed by the Joint Debtors.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                     Petition
    Debtor                              Case No.      Date
    ------                              --------      ----
Wayne Gravel Products, Inc.             10-10116     1/25/10
Little Lisa, Inc.                       10-10117     1/25/10


WCA WASTE: Moody's Affirms Corporate Family Rating at 'B1'
----------------------------------------------------------
Moody's Investors Service affirmed the B1 corporate family and
probability of default ratings of WCA Waste Corporation, the B3
rating on WCA's $150 million of senior unsecured notes due 2014
and the SGL-3 Speculative Grade Liquidity Rating.  The outlook was
changed to stable from negative.

"The stabilization of the outlook reflects Moody's belief that
WCA's operations are likely to maintain their competitive
positions in their respective markets, helping to sustain positive
free cash flow generation in 2010," said Moody's Senior Analyst,
Jonathan Root.  Similar to industry peers, WCA sustained good
operating performance through the 2009 downturn because of its
flexible cost structure.  This and the expectation of continuing
compliance with covenants of the revolving credit facility
diminish downwards pressure on the B1 rating profile.

The B1 corporate family rating reflects the expectation that WCA
will continue to successfully expand its business while
maintaining strong EBITDA margins and good free cash flow
generation.  Although a small company with annual revenues now
approaching $225 million, WCA maintains an EBITDA margin that
rivals its much larger industry peers and has also been a steady
generator of free cash flow.  Potential financial and operating
risks associated with WCA's stated intent to accelerate
acquisition investment constrains the rating to the single-B
rating category.  Moody's believes that WCA will remain a
rationale bidder.  While increased acquisition activity will
likely lead to higher debt levels and temper strengthening of
credit metrics, Moody's expects EBITDA margins to be maintained
and the profile to remain supportive of the B1 rating category.
Liquidity is adequate.

The outlook could be changed to positive if WCA is able to
strengthen its credit metrics profile as it executes its
acquisitive growth strategy.  Free Cash Flow to Debt that is
sustained above 5% of debt, EBIT to Interest that approaches 2.0
times and Debt to EBITDA that is sustained below 4.0 times could
place positive pressure on the ratings.  The outlook could be
changed to negative or the ratings directly downgraded if the
acquisitive growth strategy leads to a secular decline in the
company's EBITDA margin.  Weaker credit metrics such as EBIT to
Interest of below 1.3 times, Debt to EBITDA that approaches 5.0
times or negative free cash flow generation could also negatively
pressure the ratings as could a decline in the cushions with
financial covenants.

The last rating action was on September 29, 2008, when Moody's
changed the ratings outlook to negative.

Downgrades:

Issuer: WCA Waste Corporation

  -- Senior Unsecured Regular Bond/Debenture, Downgraded to LGD5,
     78% from LGD5, 77%

Outlook Actions:

Issuer: WCA Waste Corporation

  -- Outlook, Changed To Stable From Negative

WCA Waste Corporation, based in Houston, TX, is a vertically
integrated provider of non-hazardous solid waste management
services.  The company owns and operates or operates for third
party owners 25 landfills, 24 transfer stations or recycling
facilities and 26 collection operations in 14 northeast, central
or sun-belt states.


WEDGE ENERGY: Finalizes Flow-Through Waiver Agreement
-----------------------------------------------------
Wedge Energy International Inc. disclosed subject to a waiver
agreement with respect to the 2008 Flow-through year, the Company
is issuing 1,080,000 shares to 4 individuals.

"The statements in this Press Release may contain forward looking
statements that involve a number of risks and uncertainties.
Actual events or results could differ materially from the
Company's expectations and projections. The CNSX has not approved
or disapproved of the information contained in this Press
Release."


WEST SIDE: Files for Chapter 11 Bankruptcy Due to Weak Economy
--------------------------------------------------------------
According to rermag.com, West Side Rental & Sale together with
owner Thomas Davis filed for Chapter 11 bankruptcy, citing a weak
economy and lack of construction projects.  The company listed
more than $2.6 million in assets and $1.4 million in liabilities.
West Side Rental & Sales operates a rental company.


WICK BUILDING: Emerges From Bankruptcy; Founder Keeps Control
-------------------------------------------------------------
State Journal of Wisconsin says Wick Buildings Systems Inc. has
emerged from Chapter 11 protection under the new ownership of an
investment group led by company founder John F. Wick.

Based in Mazomanie, Wisconsin, Wick Building System Inc. is a
manufacturer of modules for commercial and residential
construction.  Wick has three plants in Wisconsin.  The Company
filed for Chapter 11 on November 23, 2009 (Bankr. W.D. Wisc. Case
No. 09-17978).  The petition says assets and debts are $1,000,001
to $10,000,000.


WINSTON PHARMACEUTICALS: Reports $2.7 Million Net Loss in 2009
--------------------------------------------------------------
Winston Pharmaceuticals, Inc., filed its annual report on Form
10-K, showing a net loss of $2.7 million on $1.4 million of
revenue for 2009, compared with a net loss of $5.1 million on
$452,542 of revenue for 2008.  The Company's balance sheet as of
Dec. 31, 2009, showed $1.7 million in assets, $1.2 million of
debts, and $488,571 of stockholders' equity.

McGladrey & Pullen, LLP, in Chicago, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that of the Company's significant
recurring losses from operations and that the Company's cash
reserves have fallen below recent cash flows from operations.

A full-text copy of the annual report is available for free at:

               http://researcharchives.com/t/s?5742

                        About the Company

Based in Vernon Hills, Ill., Winston Pharmaceuticals, Inc. (OTC
BB: WPHM) is a specialty pharmaceutical company engaged in the
discovery and development of products for pain management.


* Failed Banks May Get Pension-Fund Backing
-------------------------------------------
The Federal Deposit Insurance Corp. is trying to encourage public
retirement funds that control more than $2 trillion to buy all or
part of failed lenders, taking a more direct role in propping up
the banking system, Bloomberg News reported, citing people briefed
on the matter.  A total of 140 banks were closed in 2009, and 26
have already been closed this year.  According to Bloomberg,
regulators have avoided signing up private-equity firms as
rescuers on concern that they might take too much risk.  Pension
funds, whose 100 largest members manage $2.4 trillion, could
provide capital to acquire deposits and outstanding loans from
collapsed banks, people involved in confidential talks with
regulators said, according to Bloomberg.


* FDIC Chair Says Bankruptcy Should Be 1st Choice
-------------------------------------------------
Bloomberg News reports that Federal Deposit Insurance Corp.
Chairman Sheila Bair said in a speech at the National Association
for Business Economics policy conference in Arlington, Virginia,
that bankruptcy should be the first choice for winding down
systemically important financial institutions as part of any
resolution mechanism.  "What we need most is a mechanism and a
clear mandate to close systemic firms when they get in trouble,"
Bair said.  "We still think bankruptcy should be the first
choice."

According to Bloomberg, the House in December passed legislation
that included a resolution authority funded with $150 billion paid
by the financial-services industry and gave Bair's agency primary
responsibility for shutting systemically risky firms on the verge
of failure.


* Moody's: Global Default Rate Falls to 11.6% in February 2010
--------------------------------------------------------------
The trailing 12-month global speculative-grade default rate fell
to 11.6% in February, down from January's level of 12.5%, said
Moody's Investors Service in its latest default report.  A year
ago, the global default rate stood at only 5.8%.  The ratings
agency's default rate forecasting model now predicts that the
global speculative-grade default rate will decline sharply to 2.9%
by the end of this year and then edge lower to 2.7% by February
2011.

"The trailing 12-month default rate will likely decline rapidly
over the next several months as the bulge of defaults that
occurred in the first half of 2009 move out of the trailing
twelve-month window," said Moody's Director of Default Research
Kenneth Emery.

In the U.S., the speculative-grade default rate edged lower from
January's 13.6% to 12.7% in February, while in Europe, the default
rate among speculative-grade issuers fell from a revised 10.9% in
January to 9.7% in February.  At this time last year, the U.S.
default rate stood at 6.5% and the European default rate was even
lower at 2.8%. Among U.S. speculative-grade issuers, Moody's
forecasting model foresees the default falling to 3.3% by December
2010 and 3.0% a year from now.  In Europe, the forecasting model
projects the speculative-grade default rate will arrive at 1.7% in
December 2010 followed by a small up-tick to 2.0% by February
2011.

Overall, only two of Moody's-rated corporate debt issuers
defaulted in February, which sends the year-to-date default count
to 10.  Both of the February defaulters were based in the U.S. In
comparison, there were 45 defaults in the first two months of last
year.  Across industries over the coming year, default rates are
expected to be highest in the Consumer Transportation sector in
the U.S. and the Business Service sector in Europe.

Measured on a dollar volume basis, the global speculative-grade
bond default rate fell from a revised level of 16.0% in January to
14.8% in February. Last year, the global dollar-weighted default
rate stood at 7.0% in February.

In the U.S., the dollar-weighted speculative-grade bond default
rate ended at 15.4% in February, down from 16.3% in January.  The
comparable rate was 8.0% in February 2009.

Moody's speculative-grade corporate distress index -- which
measures the percentage of rated issuers that have debt trading at
distressed levels -- came in at 16.5% in February, unchanged from
the revised level in January.  A year ago, the index was much
higher at 49.0%.  In the leveraged loan market, only one Moody's-
rated loan issuer -- Penton Media, Inc. -- defaulted in February.
The trailing 12 month U.S. leveraged loan default rate fell from
11.4% in January to 10.9% in February.  A year ago, the loan
default rate stood at 4.5%.

Moody's "February Default Report" is now available -- as are
Moody's other default research reports -- in the Ratings Analytics
section of Moodys.com.


* Bankruptcy Lawyer Restrictions Upheld by Supreme Court
--------------------------------------------------------
Greg Stohr at Bloomberg News reports that the U.S. Supreme Court
upheld a law that bars lawyers from advising clients who are
planning to seek bankruptcy protection about using their planned
filing as an opportunity to incur more debt.

The justices unanimously overturned a federal appeals court's
conclusion that the provision, part of the 2005 bankruptcy law
overhaul, violated the Constitution's free-speech guarantee.  The
Supreme Court also backed a requirement that bankruptcy lawyers
who advertise must describe themselves as "debt relief agencies."

Writing for the court, Justice Sonia Sotomayor said the advice
provision doesn't prevent lawyers with a "valid purpose" from
advising clients to take on additional debt.  She said the
disputed provision prohibits only efforts to "manipulate the
protections of the bankruptcy system."


* Ex-Willkie Bankruptcy Partner Appointed to Bankruptcy Court
-------------------------------------------------------------
Willkie Farr & Gallagher LLP disclosed that Shelley C. Chapman,
previously a partner in the firm's Business Reorganization and
Restructuring Department, has been sworn in as a United States
Bankruptcy Judge for the Southern District of New York.  Her
appointment is effective as of March 5, 2010.

Willkie Co-Chairman Thomas Cerabino said, "Willkie's bankruptcy
and reorganization practice is well recognized as a leader in the
field, and we are particularly proud that Shelley's expertise and
accomplishments have led to this prestigious appointment.  We wish
her every success."

Ms. Chapman joined Willkie in 2001 as a partner, and has built a
significant practice representing all parties in major business
reorganizations and restructurings.  From 2004 to 2007 she served
as Chair of the Board of Directors of inMotion, a New York City
non-profit organization that provides pro bono legal services for
indigent women and children.  Prior to her appointment, she served
on the Executive Committee of the Bankruptcy and Reorganization
Group of the UJA-Federation Lawyers Division.  Ms. Chapman also
played a key role in forming Willkie's Women's Professional
Development Initiative.

Additionally, the American College of Bankruptcy recently
announced that Ms. Chapman is one of 35 nominees from the United
States and abroad being inducted in the Twenty-First Class (2010)
of College Fellows.  At a ceremony in Washington, D.C., on
March 12, 2010, she will be recognized for her "professional
excellence and exceptional contributions to the fields of
bankruptcy and insolvency."

According to The Wall Street Journal, Ms. Chapman comes to the
bench after Judge Prudence Carter Beatty stepped down in January
and Judge Robert Drain moved to the White Plains courtroom.

Willkie Farr & Gallagher LLP is an international law firm of
approximately 700 attorneys with offices in New York, Washington,
Paris, London, Milan, Rome, Frankfurt and Brussels.  The firm is
headquartered in New York City at 787 Seventh Avenue.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                                         Total
                                             Total      Share-
                                  Total    Working    Holders'
                                 Assets    Capital      Equity
  Company           Ticker        ($MM)      ($MM)       ($MM)
  -------           ------       ------    -------    --------
ACCO BRANDS CORP    ABD US      1,106.80     238.20     (117.20)
AFC ENTERPRISES     AFCE US       115.70      (0.30)     (22.90)
AFFYMAX INC         AFFY US       144.93       7.14       (2.73)
AGA MEDICAL HOLD    AGAM US       332.79      28.51      (47.64)
AMER AXLE & MFG     AXL US      1,986.80      71.10     (559.90)
AMR CORP            AMR US     25,438.00  (1,086.00)  (3,489.00)
ARTIO GLOBAL INV    ART US        280.40        -        (33.37)
ARTIO GLOBAL INV    A1I GR        280.40        -        (33.37)
ARVINMERITOR INC    ARM US      2,499.00      98.00   (1,112.00)
AUTOZONE INC        AZO US      5,424.99    (100.61)    (421.67)
BLOUNT INTL         BLT US        487.85      29.49      (22.15)
BLUEKNIGHT ENERG    BKEP US       316.83      (4.27)    (133.64)
BOARDWALK REAL E    BEI-U CN    2,378.28        -        (45.04)
BOARDWALK REAL E    BOWFF US    2,378.28        -        (45.04)
CABLEVISION SYS     CVC US      9,325.72     (14.88)  (5,143.26)
CARDTRONICS INC     CATM US       460.40     (47.34)      (1.29)
CC MEDIA-A          CCMO US    17,696.08   1,507.96   (7,020.56)
CENTENNIAL COMM     CYCL US     1,480.90     (52.08)    (925.89)
CENVEO INC          CVO US      1,525.77     162.51     (176.51)
CHENIERE ENERGY     CQP US      1,859.47      37.35     (480.33)
CHENIERE ENERGY     LNG US      2,732.62     220.06     (432.13)
CHOICE HOTELS       CHH US        340.04      (3.94)    (114.21)
CINCINNATI BELL     CBB US      2,064.30      (2.80)    (654.60)
CONEXANT SYS        CNXT US       273.75      65.77      (66.65)
CYTORI THERAPEUT    CYTX US        25.00      11.37       (1.42)
DENNY'S CORP        DENN US       312.63     (33.76)    (127.50)
DEX ONE CORP        DEXO US     4,498.80    (402.90)  (6,919.00)
DEXCOM              DXCM US        53.96      25.84       (9.10)
DISH NETWORK-A      DISH US     8,295.34     188.67   (2,091.69)
DOMINO'S PIZZA      DPZ US        453.76      59.25   (1,320.99)
DUN & BRADSTREET    DNB US      1,749.40     (99.50)    (734.00)
DYAX CORP           DYAX US        51.59      23.57      (49.20)
EASTMAN KODAK       EK US       7,691.00   1,407.00      (33.00)
EPICEPT CORP        EPCT SS         7.51      (6.52)      (9.08)
EXELIXIS INC        EXEL US       421.10      91.53     (142.77)
EXTENDICARE REAL    EXE-U CN    1,668.06     122.76      (40.90)
FORD MOTOR CO       F US      197,890.00  (8,112.00)  (6,515.00)
FORD MOTOR CO       F BB      197,890.00  (8,112.00)  (6,515.00)
GENCORP INC         GY US         935.70     111.20     (289.10)
GLG PARTNERS-UTS    GLG/U US      500.78     167.40     (283.57)
GRAHAM PACKAGING    GRM US      2,126.29     167.22     (763.11)
GREAT ATLA & PAC    GAP US      3,025.43     248.68     (358.47)
HEALTHSOUTH CORP    HLS US      1,681.50      34.80     (510.20)
HOVNANIAN ENT-A     HOV US      2,100.19   1,590.50     (110.69)
INCYTE CORP         INCY US       472.82     358.38     (199.36)
INTERMUNE INC       ITMN US       114.73      73.51     (105.80)
IPCS INC            IPCS US       559.20      72.11      (33.02)
JAZZ PHARMACEUTI    JAZZ US       107.40     (22.29)     (72.83)
JUST ENERGY INCO    JE-U CN     1,387.06    (386.96)    (356.53)
KNOLOGY INC         KNOL US       646.90      26.17      (33.89)
LIBBEY INC          LBY US        797.79     146.46      (66.91)
LIN TV CORP-CL A    TVL US        772.71       6.57     (188.41)
LINEAR TECH CORP    LLTC US     1,512.83     673.47     (114.33)
LODGENET INTERAC    LNET US       508.35      (4.90)     (70.99)
MANNKIND CORP       MNKD US       247.40       8.81      (59.22)
MEAD JOHNSON        MJN US      2,070.30     235.90     (664.30)
MOODY'S CORP        MCO US      2,003.30    (223.10)    (596.10)
NATIONAL CINEMED    NCMI US       607.80      85.00     (504.50)
NAVISTAR INTL       NAV US     10,027.00   1,563.00   (1,739.00)
NPS PHARM INC       NPSP US       154.65      72.04     (222.37)
OCH-ZIFF CAPIT-A    OZM US      1,976.06        -        (88.36)
OVERSTOCK.COM       OSTK US       144.38      34.09       (3.10)
PALM INC            PALM US     1,326.92      61.03     (151.17)
PDL BIOPHARMA IN    PDLI US       338.41      22.32     (415.95)
PETROALGAE INC      PALG US         3.23      (6.62)     (40.14)
PRIMEDIA INC        PRM US        241.09     (14.36)    (110.72)
PROTECTION ONE      PONE US       628.12      29.11      (83.27)
QWEST COMMUNICAT    Q US       20,380.00    (483.00)  (1,178.00)
REGAL ENTERTAI-A    RGC US      2,637.70      32.40     (246.90)
RESVERLOGIX CORP    RVX CN         12.38       3.71       (9.17)
REVLON INC-A        REV US        794.20      94.30   (1,033.60)
RURAL/METRO CORP    RURL US       275.41      35.16     (105.29)
SALLY BEAUTY HOL    SBH US      1,529.70     360.62     (580.19)
SANDRIDGE ENERGY    SD US       2,780.32      30.42     (195.90)
SEALY CORP          ZZ US       1,015.47     157.15     (107.99)
SIGA TECH INC       SIGA US         8.17      (4.07)     (11.49)
SINCLAIR BROAD-A    SBGI US     1,629.15     (17.99)    (132.17)
SUN COMMUNITIES     SUI US      1,189.20        -        (95.46)
TALBOTS INC         TLB US        839.70      (3.95)    (190.56)
TAUBMAN CENTERS     TCO US      2,606.85        -       (474.75)
TEAM HEALTH HOLD    TMH US        940.95      17.39      (92.33)
THERAVANCE          THRX US       181.39     123.10     (188.99)
UAL CORP            UAUA US    18,684.00  (1,368.00)  (2,811.00)
UNISYS CORP         UIS US      2,956.90     308.60   (1,271.70)
UNITED RENTALS      URI US      3,859.00     244.00      (19.00)
US AIRWAYS GROUP    LCC US      7,454.00    (458.00)    (355.00)
VECTOR GROUP LTD    VGR US        735.54     240.20       (4.68)
VENOCO INC          VQ US         739.54     (20.64)    (174.50)
VERMILLION-OLD      VRMLQ US        7.15      (2.96)     (24.87)
VIRGIN MOBILE-A     VM US         307.41    (138.28)    (244.23)
VIRNETX HOLDING     VHC US          4.30      (0.14)      (0.07)
WARNER MUSIC GRO    WMG US      3,934.00    (599.00)     (97.00)
WAVE SYSTEMS-A      WAVX US         5.61      (1.69)      (1.48)
WEIGHT WATCHERS     WTW US      1,087.51    (336.10)    (733.27)
WORLD COLOR PRES    WC CN       2,641.50     479.20   (1,735.90)
WORLD COLOR PRES    WCPSF US    2,641.50     479.20   (1,735.90)
WORLD COLOR PRES    WC/U CN     2,641.50     479.20   (1,735.90)
WR GRACE & CO       GRA US      3,968.20   1,134.00     (290.50)
ZYMOGENETICS INC    ZGEN US       319.30     110.05       (3.96)



                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.

                  *** End of Transmission ***