---

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

              Monday, March 15, 2010, Vol. 14, No. 73

                            Headlines

101/202 HOLDINGS: Court Dismisses Chapter 11 Reorganization Case
AEROTHRUST CORP: Celsius Holdings Added to Creditors Committee
ALERIS INT'L: Court Approves Disclosure Statement on Plan
ALLIS-CHALMERS: Amends Covenants Under Royal Bank of Canada Loan
AMERICAN BRIDGE: Trustee Can Go After Ex-Receiver

AMCORE FINANCIAL: Gets Notice of Minimum Bid Price Non-Compliance
AMERICAN CAPITAL: Judge Cristol Tosses Suit Against SunTrust
AMERICAN INT'L: Macquarie May Bid for Aircraft Assets for $3.5BB
AMERICAN SPECTRUM: Gets Possible Delisting Notice From NYSE AMEX
DISCOVER FINANCIAL: To Further Enhance Loan Loss Reserve

ARAMARK CORP: Bank Debt Trades at 4% Off in Secondary Market
ARDENT MEDICAL: Loan Reduction Won't Affect Moody's 'B1' Rating
ASYST TECHNOLOGIES: Discloses March 5 Plan Effective Date
AVEO PHARMACEUTICALS: Raises $81 Million in IPO of Common Stock
BALDEV SEKHON: Case Summary & 8 Largest Unsecured Creditors

BANK OF FLORIDA: Posts $147.8 Million Net Loss in 2009
BANK OF FLORIDA: Commences Public Offering of Common Shares
BEAR ISLAND: Asks for OK to Obtain Financing, Use Cash Collateral
BEARINGPOINT INC: Trustee to Probe Sale, Wants Docs From Cerberus
BEDMINSTER INTERNATIONAL: Chapter 15 Case Summary

BLACK GAMING: Can Use of Wells Fargo, Noteholders Cash Collateral
BONDED LOGIC INC: Case Summary & 20 Largest Unsecured Creditors
BRUCE NEVIASER: M&I Bank Asks Court to Forbid Cash Collateral Use
CAMERON-811: Seeks Cash Collateral Use for Advances to Vendors
CANAL CAPITAL: Posts $75,000 Net Loss in Q1 Ended January 31

CAROLE ANN MEIKLE: Case Summary & 20 Largest Unsecured Creditors
CATALYST PAPER: Proposes to Restart Elk Falls Paper Facility
CATALYST PAPER: Moody's Junks Corporate Family Rating From 'B3'
CATALYST PAPER: S&P Downgrades Corporate Credit Rating to 'SD'
CATALYST PAPER: Posts C$4.4 Million Net Loss in 2009

CCS MEDICAL: Court Confirms Reorganization Plan
CELESTICA INC: Moody's Upgrades Corp. Family Rating to 'Ba2'
CERUS CORP: Files Form 10-K; Posts $24.1 Million Net Loss
CHARTER COMMS: Bank Debt Trades at 4% Off in Secondary Market
CHEMTURA CORP: Wants to Conduct Rule 2004 Exam on HFM

CHEMTURA CORP: Wins Approval to Idle El Dorado Assets
CHEMTURA CORP: Equity Committee Member Wants to Trade Shares
CHEMTURA CORP: Committee Objects to C.E.R.T. Claims
CINCINNATI BELL: To Offer $400-Mil. of Senior Subordinated Notes
CIRCUIT CITY: Wins Release from V. McCulty Claims

CIRCUIT CITY: Proposes to Hire Alfred H. Siegel as CRO
CLARIENT INC: Reports $2.6 Million Net Loss for December 2009
CLEAR CHANNEL: Bank Debt Trades at 20% Off in Secondary Market
CLST HOLDINGS: Posts $5.2 Million Net Loss in 2009 Fiscal Year
CLST HOLDINGS: Appeals Court Voids Stockholders' Meet Order

COMMUNITY HEALTH: Bank Debt Trades at 5% Off in Secondary Market
CONNECTTO COMMS: Case Summary & 20 Largest Unsecured Creditors
CONTEMPORARY CABINETS: Case Summary & 20 Largest Unsec. Creditors
COOPER-STANDARD: Claims Transfers for February
COOPER-STANDARD: To Close Auto Fluid Plant in Spain

COUNTERPATH CORP: Posts $1.8 Million Net Loss in Q3 Ended Jan 31
CROSS CANYON: Court Approves Prepackaged Plan
DANIEL CRAIG SMITH: Case Summary & 8 Largest Unsecured Creditors
DANNY SMITH HOLDING: Case Summary & Unsecured Creditor
DAZ VINEYARDS: Gets Court Nod to Access Lenders' Cash Collateral

DELTA PETROLEUM: Posts $328.8 Million Net Loss in 2009
DEUCE INVESTMENTS: Amends Schedules of Assets and Liabilities
DIAMOND DECISIONS: Trustee Wants Case Converted to Chapter 7
DIAMOND DECISIONS: Howard Grobstein Appointed as Ch. 11 Trustee
DISCOVERY LABORATORIES: Posts $30.2 Million Net Loss in 2009

DOUGLAS EDWARD FARLEY: Voluntary Chapter 11 Case Summary
E AND J DEVELOPERS: Voluntary Chapter 11 Case Summary
E*TRADE FINANCIAL: Discloses Projections at Citi Conference
E*TRADE FINANCIAL: Continues Chief Executive Officer Search
EACO CORP: Amends Report for 1st 8 Months of 2009; Posts $100 Loss

EAST WEST RESORT: Tahoe Club Files Schedules of Assets & Debts
EAST WEST RESORT: U.S. Trustee Unable to Form Creditors Committee
EASTMAN KODAK: Tenders for $200MM Notes Repurchase Exceed Max
EAU TECHNOLOGIES: Gets Board's Go Signal to Sell Common Stock
ECOVENTURE WIGGINS: Lenders Foreclose on Aqua Condominium

EDIETS.COM INC: Posts $12.1 Million Net Loss in 2009
EMPIRE RESORTS: Retains Merrill Lynch as Financial Advisor
ENVIROSOLUTIONS HOLDINGS: Files for Pre-Arranged Bankruptcy
ENVIROSOLUTIONS HOLDINGS: Case Summary & Largest Unsec. Creditors
ENVIROSOLUTIONS HOLDINGS: Moody's Cuts Corp. Family Rating to 'Ca'

EPIC AIR: Harlow CEO Phillip Friedman Eyeing Assets
EPV SOLAR: Wins Court Okay to Use Patriarch Collateral
ETERNAL ENERGY: Files Amended Q3 2009 Report; Has $3.5MM Net Loss
EVERYDAY LOGISTICS: Asks for Court Okay to Use Cash Collateral
FAIRPOINT COMMS: Bank Debt Trades at 23% Off in Secondary Market

FAIRPOINT COMMUNICATIONS: Lease Decision Period Extended to May 24
FAIRPOINT COMMUNICATIONS: Proposes USAT Settlement Agreement
FAIRPOINT COMMUNICATIONS: Sets 2010 AIP Target Goals for Officers
FIDDLER'S CREEK: Wants DIP Financing From Gulf Bay Capital
FORD MOTOR: Bank Debt Trades at 5% Off in Secondary Market

GENERAL MOTORS: New GM Amends By-Laws for Change of Fiscal Year
GENTA INC: Inks Agreement For $25 Million Convertible Notes
GMAC INC: Plan, Bail-Out Terms Questioned by Oversight Panel
GOLDBERG-BAYMEADOWS: Taps GrayRobinson as Bankruptcy Counsel
GRAY COMMS: Bank Debt Trades at 9% Off in Secondary Market

GSI GROUP: Modifies Plan to Hike Recovery for Equity Holders
GTC BIOTHERAPEUTICS: Posts $27.9-Mil. Net Loss in Yr. Ended Jan 3
GUNNING CONSTRUCTION: Case Summary & 20 Largest Unsec. Creditors
GWC DEVELOPMENT: Case Summary & 4 Largest Unsecured Creditors
HAIGHTS CROSS: Emerges From Chapter 11

HARMONY PARK: Voluntary Chapter 11 Case Summary
HARRAH'S ENTERTAINMENT: HOC Bank Debt Trades at 102.48%
HARTMARX CORP: Committee Can File Plan of Liquidation
HAWKER BEECHCRAFT: Bank Debt Trades at 22% Off in Secondary Market
HAWKER BEECHCRAFT: Bank Debt Trades at 6% Off in Secondary Market

HOMEBANC MORTGAGE: Chapter 7 Trustee Files 400 Preference Actions
HPT DEVELOPMENT: Voluntary Chapter 11 Case Summary
HUNTSMAN CORPORATION: Moody's Affirms 'B1' Corporate Family Rating
HUNTSMAN INTERNATIONAL: S&P Puts 'CCC+' Rating on $250 Mil. Notes
ICAHN ENTERPRISES: Lionsgate Rejects Partial Tender Offer

INTELSAT JACKSON: Bank Debt Trades at 8% Off in Secondary Market
INYX USA: Wins Reorganization Plan Approval
IRON BOWL - JEFF ROAD: Case Summary & 3 Largest Unsec. Creditors
IRVINE SENSORS: Issues 540,000 Shares to Investor
J MARTIN SMITH: Case Summary & 9 Largest Unsecured Creditors

JAMES KENNETH BOONSTRA: Voluntary Chapter 7 Case Summary
JOHN MANEELY: Bank Debt Trades at 6% Off in Secondary Market
JONATHAN ALAN MCGRAW: Voluntary Chapter 11 Case Summary
KATE & ALLIES PROPERTY: Case Summary & 4 Largest Unsec. Creditors
LAS VEGAS SANDS: Bank Debt Trades at 10% Off in Secondary Market

LEAP WIRELESS: Board OKs $1.5MM in Bonuses for Executives
LEHMAN BROTHERS: Liquidators Get 100% on China Real Estate Loan
LEHMAN BROTHERS: HKMA Reports Progress of Probe on Lehman Cases
LEHMAN BROTHERS: Delays Filing of Annual Report on Form 10-K
LESARRA ATTACHED HOMES: Case Summary & 19 Largest Unsec. Creditors

LEVEL 3 COMMS: Bank Debt Trades at 9% Off in Secondary Market
LOOKSMART: Gets NASDAQ Bid Price Deficiency Letter
LOST RIVERS: Chapter 9 Case Summary & 20 Largest Unsec. Creditors
LYONDELL CHEMICAL: To Raise $3.25B to Finance Bankruptcy Exit
LYONDELL CHEMICAL: Obtains Approval for Key Agreements

M-WISE INC: Swings to US$82,985 Profit in 2009
MARIA ALCANTARA: Voluntary Chapter 11 Case Summary
MATERA RIDGE: Case Summary & 6 Largest Unsecured Creditors
MAGMA DESIGN: Posts $2.6 Million Net Loss in Q3 Ended January 31
MERIDIAN RESOURCE: Has Unsolicited Takeover Offer from Third Party

MGM MIRAGE: Has Deal with New Jersey Regulator on Borgata License
MGM MIRAGE: CityCenter Contractor Asserts $492-Mil. Claim
MICHAELS STORES: Bank Debt Trades at 8% Off in Secondary Market
MIDDLEBROOK PHARMA: Posts $15.8 Million Net Loss in Q4 2009
MIDDLEBROOK PHARMA: Will Eliminate Field Sales Force; CEO Resigns

MILESTONE SCIENTIFIC: Posts $1.5 Million Net Loss in 2009
MOMENTIVE PERFORMANCE: Bank Debt Trades at 7% Off
MOORE MARINE INC: Case Summary & 20 Largest Unsecured Creditors
MOVIE GALLERY: May Close Most Twin Cities Store Locations
MPC COMPUTERS: Fights Gateway to Stave Off Chapter 7

NANCY HORNE: Case Summary & 20 Largest Unsecured Creditors
NAVISTAR INT'L: BlackRock Holds 6.65% of Common Stock
NAVISTAR INT'L: Employee Trusts Hold 8.49% of Common Stock
NAVISTAR INT'L: Evercore Trust Holds 8.51% of Common Stock
NAVISTAR INT'L: FMR, Fidelity Hold 14.969% of Common Stock

NAVISTAR INT'L: GE Capital to Finance Retail Truck and Bus Sales
NAVISTAR INT'L: OppenheimerFunds Holds 11.12% of Common Stock
NECESSARY OIL: Case Summary & 20 Largest Unsecured Creditors
NEIMAN MARCUS: Bank Debt Trades at 7% Off in Secondary Market
NEXSTAR BROADCASTING: Amalgamated Gadget Holds 7.8% of Shares

NEXSTAR BROADCASTING: Bank of America Holds 6.4% of Shares
NEXSTAR BROADCASTING: Renaissance Tech Holds 5.83% of Common Stock
NIELSEN COMPANY: Bank Debt Trades at 5% Off in Secondary Market
NIGHTHAWK RADIOLOGY: Moody's Cuts Corp. Family Rating to 'B2'
NORTEL NETWORKS: Fights UK Fund Trustee's Bid to Sidestep Stay

NORWICHTOWN PROPERTIES: Case Summary & 3 Largest Unsec. Creditors
NOVELOS THERAPEUTICS: Faces Lawsuit Over Shares Purchase
NUANCE COMMUNICATIONS: Moody's Raises Corp. Family Rating to 'Ba3'
NUVEEN INVESTMENTS: Assets Under Mgt. at $144.8 Billion
OCCULOGIX INC: Stockholders OK Shares Sale to Investors, Officers

OCCULOGIX INC: Eric Donsky Holds 15.1% of Common Stock
OLD MUTUAL: Disposal Plan Cues Fitch's Negative Watch
OLD SOUTHERN BANK: Closed; Centennial Bank Assumes All Deposits
ORLEANS HOMEBUILDERS: Wants BMO Capital as M&A Advisor
ORLEANS HOMEBUILDERS: NYSE Amex to Suspend Trading of Common Stock

ORLEANS HOMEBUILDERS: Taps Lieutenant Island as Consultant
ORLEANS HOMEBUILDERS: Gets Suspension Notice From NYSE Amex
PACETTI GROUP: Case Summary & 10 Largest Unsecured Creditors
PACIFIC CAPITAL: Frederick Clough Retires Effective March 31
PACIFIC CAPITAL: Posts $421.3 Million Net Loss in 2009

PACIFIC DEVELOPMENT: Case Summary & 20 Largest Unsecured Creditors
PAHRUMP-160@IRENE: Case Summary & 1 Largest Unsecured Creditor
PAID INC: Posts $3.5 Million Net Loss in 2009
PALMETTO GREENS: NC Court Approves Plan of Reorganization
PARK AVENUE BANK: Closed; Valley National Assumes All Deposits

PATRICK HACKETT: Parent Pays Off Loan from Local Devt. Agency
PEBWORTH PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
PEREGRINE PHARMA: Posts $1.5 Million Net Loss in Q3 Ended Jan. 31
PERRYTON HOSPITALITY: Voluntary Chapter 11 Case Summary
PERSONALITY HOTELS: Case Summary & 23 Largest Unsecured Creditors

PHEASANT RUN: Case Summary & 20 Largest Unsecured Creditors
PHILOSOPHY ACQUISITION: Moody's Affirms 'B2' Corp. Family Rating
PONIARD PHARMACEUTICALS: Posts $13.2 Million Net Loss in Q4 2009
POWERS LAKE CONSTRUCTION: Voluntary Chapter 11 Case Summary
POWERS LAKE: Files for Chapter 11 Bankruptcy in Milwaukee

PREMIER CONCRETE: Case Summary & 20 Largest Unsecured Creditors
PRESSTEK INC: Inks New $25 Million Revolving Credit Facility
PSYCHIATRIC SOLUTIONS: Bank Debt Trades at 2% Off
QUANTUM FUEL: Gets Nasdaq Notice Regarding Minimum Bid Price Rule
QUICK SHINE INC: Case Summary & 2 Largest Unsecured Creditors

REALM PROPERTIES LLC: Case Summary & 6 Largest Unsecured Creditors
RECKSON OPERATING: Fitch Expects to Assigns 'BB+' Rating on Notes
REDDY ICE: 91% of Notes Tendered So Far; Deadline on March 19
REGENT COMMUNICATIONS: Resilient Owns 6.6% of Common Stock
RESPONSE BIOMEDICAL: Posts C$9.5 Million Net Loss in 2009

RICHARD BAKER: Case Summary & 6 Largest Unsecured Creditors
SCAPE INVESTMENTS: Case Summary & 5 Largest Unsecured Creditors
SEA VILLAGE MARINA: Voluntary Chapter 11 Case Summary
SELECTED FINANCIAL: Case Summary & 20 Largest Unsecured Creditors
SENSATA TECH: Extends Participation Date to March 18 for Notes

SEQUA CORP: Bank Debt Trades at 7% Off in Secondary Market
S.H. LEGGITT: Asks Court OK to Obtain Financing From Don Leggitt
SHOME ENTERPRISES: Voluntary Chapter 11 Case Summary
STARWOOD HOTELS: Fitch Affirms Issuer Default Rating at 'BB+'
STATEWIDE BANK, COVINGTON: Closed; Home Bank Assumes All Deposits

STEEL DYNAMIC: Moody's Assigns 'Ba2' Rating on $300 Mil. Notes
STEEL DYNAMICS: S&P Changes Outlook to Stable; Puts 'BB+' Rating
STOCKHAM INTERESTS: Case Summary & 11 Largest Unsecured Creditors
STONY POINT LAND: Case Summary & 3 Largest Unsecured Creditors
SUNGARD DATA: Bank Debt Trades at 1% Off in Secondary Market

SUPERIOR PLASTER: Case Summary & 20 Largest Unsecured Creditors
SUSSER HOLDINGS: Moody's Affirms Ratings; Gives Negative Outlook
SWIFT TRANSPORTATION: Bank Debt Trades at 7% Off
SWOOZIE'S INC: Taps Clear Thinking Group as Financial Advisor
SWOOZIE'S INC: Gets Permission to Hold An Auction

TAYLOR BEAN: Creditors Sue BofA for Contract Breach
TISHMAN SPEYER: Bank Debt Trades at 20% Off in Secondary Market
TMRL LLC: Case Summary & 4 Largest Unsecured Creditors
TOUSA INC: Sued by Old Trail for Recoupment Payments
TRIBUNE CO: Wants TRO Against Dan Neil, et al.

TWCC HOLDING: S&P Assigns 'BB' Rating on $1.3 Bil. Loan
UNITED AIR LINES: Bank Debt Trades at 16% Off in Secondary Market
US FIDELIS: Missouri Attorney General Wants Ch. 11 Trustee
VALENCE TECHNOLOGY: Has 180 Days to Meet Nasdaq Minimum Bid Price
VASO ACTIVE: Files for Chapter 11 in Delaware

VERENIUM CORP: Posts $3.0 Million Net Loss in Q4 2009
VERIFONE INC: S&P Raises Corporate Credit Rating to 'BB-'
VISTEON CORP: Ford Correctly Classified Ex-Visteon Workers
WALL MANAGEMENT: Case Summary & 20 Largest Unsecured Creditors
WASHINGTON MUTUAL: Reaches Global Settlement with JP Morgan

WESTERN REFINING: Bank Debt Trades at 8% Off in Secondary Market
WESTMORELAND COAL: Posts $29.2 Million Net Loss in 2009
WF DEVELOPMENT: Case Summary & 7 Largest Unsecured Creditors
WHEELER HOSPITALITY: Voluntary Chapter 11 Case Summary
WHOLESALE PROPERTIES: Case Summary & 19 Largest Unsec. Creditors

YRC WORLDWIDE: Credit Suisse Holds 5.3% of Common Stock
YRC WORLDWIDE: Wells Fargo Holds 3.52% of Common Stock
YRC WORLDWIDE: To Effect Reverse Stock Split in 2nd Quarter
ZALE CORP: Finlay Bankruptcy Gives Rise to Rent Liabilities
ZAHNOW PROPERTIES: Case Summary & 3 Largest Unsecured Creditors

* Bank Failures This Year Reach 30 After 3 Closed Friday
* 2 Corporate Defaults Last Week; 2010 Tally at 19
* FDIC Says 6 Banks Need to Improve CRA Compliance

* New Round of Foreclosures Threatens Housing Market
* Politics, Shaky Economy Create No Rush to Restructure

* BOND PRICING -- For the Week From March 8 to 12, 2010


                            *********


101/202 HOLDINGS: Court Dismisses Chapter 11 Reorganization Case
----------------------------------------------------------------
The Hon. Sarah S. Curley of the U.S. Bankruptcy Court for the
District of Arizona dismissed the Chapter 11 case of 101/202
Holdings, L.L.C.

As reported in the Troubled Company Reporter on January 27, 2010,
101/202 sought the dismissal of the case because it failed to
obtain third party financing to satisfy all claims against the
estate.  The Debtor also allowed its senior lien holders to
initiate a trustee's sale of its property.

Tempe, Arizona-based 101/202 Holdings, L.L.C., filed for Chapter
11 on November 27, 2009 (Bankr. D. Ariz. Case No. 09-30627).
Jerry L. Cochran, Esq., at Cochran Law Firm, PC, represented the
Debtor in its restructuring effort.  In its petition, the Debtor
listed $10,000,001 to $50,000,000 in assets and $1,000,001 to
$10,000,000 in debts.


AEROTHRUST CORP: Celsius Holdings Added to Creditors Committee
--------------------------------------------------------------
Roberta A. DeAngelis, Acting U.S. Trustee for Region 3, amended
the official committee of unsecured creditors in the Chapter 11
cases of AeroThrust Corporation, et al., to add Celsius Holdings
Delaware Corporation.

The Creditors Committee now consists of:

1. Lufthansa Technik AG
   Attn: Robin McDougall
   1640 Hempstead Tpk.
   East Meadow, NY 11554
   Tel: (516) 296-9284
   Fax: (516) 296-9399

2. International Association of Machinists & Aerospace Workers,
   AFL-CIO
   Attn: William H. Haller
   9000 Machinists Place
   Upper Marlboro, MD 20772
   Tel: (301) 967-4510
   Fax: (301) 967-4594

3. Avioserv San Diego, Inc.
   Attn: Jennifer Bowman
   6495 Marindustry Place
   San Diego, CA 92121
   Tel: (858) 812-9747
   Fax: (858) 812-9752

4. Tran Logistics, LLC
   Attn: Lilly Tran
   2801 NW 74th Ave., Suite 170
   Miami, FL 33122
   Tel: (305) 392-7464
   Fax: (305) 392-7496

5. Phoenix Composite Solutions, LLC
   Attn: John Scanlon
   5911 Mission St.
   Oscoda, MI 48750
   Tel: (984) 739-7108
   Fax: (989) 739-3364

6. Celsius Holdings Delaware Corporation
   Attn: Mark Pugliese
   21300 Ridgetop Circle
   Sterling, VA 20166
   Tel: (703) 406-7227
   Fax: (703) 406-7224

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at the Debtor's
expense.  They may investigate the Debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.  Those
committees will also attempt to negotiate the terms of a
consensual Chapter 11 plan -- almost always subject to the terms
of strict confidentiality agreements with the Debtors and other
core parties-in-interest.  If negotiations break down, the
Committee may ask the Bankruptcy Court to replace management with
an independent trustee.  If the Committee concludes reorganization
of the Debtor is impossible, the Committee will urge the
Bankruptcy Court to convert the Chapter 11 cases to a liquidation
proceeding.

Miami, Florida-based AeroThrust Corporation provides engine
repair, maintenance and overhaul of the CFM56 and JT8D engines.
AeroThurst is 100% owned by Windstar Capital LLC, a Los Angeles-
based company that bought it from Saab AB for $50.1 million in
2001.  The Company filed for Chapter 11 bankruptcy protection on
December 27, 2009 (Bankr. D. Del. Case No. 09-14541).  Its
affiliate, AeroThrust Engine Leasing Holding Company, LLC, also
filed a Chapter 11 bankruptcy petition.  AeroThurst holds a 51%
interest in AeroThrust Leasing Holding LLC.  Thomas F. Driscoll,
III, Esq., at Bifferato LLC, assists the Debtors in their
restructuring effort.  In its bankruptcy petition, AeroThrust
Corp. estimated assets its at $50,000,001 to $100,000,000 and its
debts at $10,000,001 to $50,000,000.  The Company owes
$11.6 million to secured lender PNC Bank.


ALERIS INT'L: Court Approves Disclosure Statement on Plan
---------------------------------------------------------
Aleris International, Inc., disclosed that the U.S. Bankruptcy
Court in Delaware has approved the Disclosure Statement filed in
connection with its proposed Plan of Reorganization.  The Court
has also authorized the Company to begin the process of soliciting
approval for the Plan from eligible creditors.  A confirmation
hearing for the Plan has been scheduled for May 13, 2010.  With
these developments, Aleris and its co-debtor subsidiaries are
positioned to emerge from chapter 11 protection by mid-year.

As previously reported, Aleris expects to emerge from its
reorganization process with a strong balance sheet, significantly
reduced operating costs and greater financial flexibility.

"We are nearing the completion of the chapter 11 process," said
Steven J. Demetriou, Aleris Chairman and CEO.  "With our
operational improvements, combined with the new financial
structure that will be in place upon emergence, we believe that we
will be well-positioned to grow and continue building Aleris into
a global aluminum enterprise for the long-term benefit of our
customers, suppliers, business partners and employees."

                    About Aleris International

Aleris International, Inc., produces and sells aluminum rolled and
extruded products.  Aleris operates primarily through two
reportable business segments: (i) global rolled and extruded
products and (ii) global recycling.  Headquartered in Beachwood,
Ohio, a suburb of Cleveland, the Company operates over 40
production facilities in North America, Europe, South America and
Asia, and employs approximately 8,400 employees.  Aleris operates
27 production facilities in the United States with eight
production facilities that provided rolled and extruded aluminum
products and 19 recycling production plants.

Aleris International, Inc., aka IMCO Recycling Inc., and various
affiliates filed for bankruptcy on February 12, 2009 (Bankr. D.
Del. Case No. 09-10478).  The Hon. Brendan Linehan Shannon
presides over the cases.  Stephen Karotkin, Esq., and Debra A.
Dandeneau, Esq., at Weil, Gotshal & Manges LLP in New York, serve
as lead counsel for the Debtors.  L. Katherine Good, Esq., and
Paul Noble Heath, Esq., at Richards, Layton & Finger, P.A.  In
Wilmington, Delaware, serves as local counsel.  Moelis & Company
LLC, acts as financial advisors; Alvarez & Marsal LLC as
restructuring advisors, and Kurtzman Carson Consultants LLC as
claims and noticing agent for the Debtors.  As of December 31,
2008, the Debtors had total assets of US$4,168,700,000; and total
debts of US$3,978,699,000.

Bankruptcy Creditors' Service, Inc., publishes Aleris
International Bankruptcy News.  The newsletter tracks the chapter
11 proceeding undertaken by Aleris International, Inc. and its
various affiliates.  (http://bankrupt.com/newsstand/or 215/945-
7000)


ALLIS-CHALMERS: Amends Covenants Under Royal Bank of Canada Loan
----------------------------------------------------------------
Allis-Chalmers Energy Inc., and certain of its subsidiaries on
February 25, 2010, entered into a Sixth Amendment to its existing
Second Amended and Restated Credit Agreement dated as of April 26,
2007, with Royal Bank of Canada, as administrative agent and
collateral agent, and the lenders party thereto.

The Sixth Amendment, among other things, modifies the leverage
ratio and interest coverage ratio covenants:

     Interest Coverage Ratio
     Period

     10/01/2009     1/01/2010     7/01/2010     1/01/2011
     Through        Through       Through       and
     12/31/2009     6/30/2010     12/31/2010    thereafter
     ----------     ----------    ----------    ----------
     1.85 to 1.00   1.75 to 1.00  2.00 to 1.00  2.75 to 1.00


     Leverage Ratio
     Period

     10/01/09   1/01/10   4/01/10   7/01/10   10/01/10   1/01/11
     Through    Through   Through   Through   Through    and
     12/31/09   3/31/10   6/30/10   9/30/10   12/31/10   there-
                                                         After
     --------   -------   -------   -------   --------   -------
     5.25 to    5.85 to   5.75 to   5.50 to   5.00 to    4.00 to
     1.00       1.00      1.00      1.00      1.00       1.00

In addition, the Sixth Amendment increased from $23 million to $27
million the maximum amount of secured indebtedness that may be
owed by the Company's subsidiaries BCH Ltd. and BCH Energy do
Brasil de Petroleo, Ltda. and which may be guaranteed by the
Company.

                  About Allis-Chalmers Energy

Houston, Texas-based Allis-Chalmers Energy Inc. (NYSE: ALY) --
http://www.alchenergy.com/-- is a multi-faceted oilfield services
company.  Allis-Chalmers provides services and equipment to oil
and natural gas exploration and production companies, domestically
primarily in Texas, Louisiana, New Mexico, Oklahoma, Arkansas,
offshore in the Gulf of Mexico, and internationally, primarily in
Argentina, Brazil and Mexico.  Allis-Chalmers provides directional
drilling services, casing and tubing services, underbalanced
drilling, production and workover services with coiled tubing
units, rental of drill pipe and blow-out prevention equipment, and
international drilling and workover services.

                         *     *     *

As reported by the Troubled Company Reporter on July 15, 2009,
Standard & Poor's Ratings Services raised its corporate credit
rating on Allis-Chalmers Energy to 'B-' from 'SD' (selective
default).  The outlook is negative.  At the same time, S&P raised
the issue-level rating on Allis-Chalmers' unsecured notes to 'B-'
(the same as the corporate credit rating) from 'D'.  S&P revised
the recovery rating on this debt to '4' from '3' indicating
expectations of average (30%-50%) recovery of principal in the
event of a payment default.

The TCR said July 9, 2009, Moody's Investors Service affirmed
Allis-Chalmers' B3 Corporate Family Rating, changed its
Probability of Default Rating to B3 from B3/LD, and upgraded its
$225 million 9% senior notes due 2014 to Caa1 (LGD 4, 62%) from
Caa3 (LGD 3, 35%) and its $205 million 8.5% senior notes due 2017
to Caa1 (LGD 4, 62%) from Ca (LGD 4, 40%).  The rating outlook is
stable.


AMERICAN BRIDGE: Trustee Can Go After Ex-Receiver
-------------------------------------------------
The Chapter 7 trustee for American Bridge Products Inc. will be
able to pursue $380,000 in breach of fiduciary duty claims against
the former court-appointed receiver following a March 10 ruling by
an appeals court that the claims were not time-barred.

In August 1993, American Bridge and its then-owners filed a
complaint in Massachusetts Superior Court alleging that a group of
defendants -- including Robert Conti, a major investor in American
Bridge, and John Conti, Robert's son and a former employee of
American Bridge -- had converted and were conspiring to convert
American Bridge's assets to their private benefit in fraud of the
company's creditors.  Everett Savings Bank was also charged with
assisting Robert Conti to divert American Bridge's bank assets
into accounts controlled by Conti.

The next month, the state court appointed Nicholas Decoulos as
receiver of American Bridge.  Not long after, American Bridge's
principals and creditors began to complain about Mr. Decoulos'
performance as receiver.  Efforts opposing Mr. Decoulos began in
October 1993, and included a failed attempt to put the company
into federal bankruptcy proceedings, fruitless complaints about
Mr. Decoulos to state bar authorities, and objections to
Mr. Decoulos' fee and other applications, which were nevertheless
approved by the state court, summarily so in most cases.  In July
1995, American Bridge's owners filed the first of two unsuccessful
motions seeking to remove Mr. Decoulos as receiver.

In August 1996, the owners and a major creditor of American Bridge
filed an involuntary Chapter 7 bankruptcy petition against the
company.  When Mr. Decoulos resisted, proponents filed an
affidavit that set forth in detail Mr. Decoulos' shortcomings as
receiver.  In October, the federal bankruptcy court granted the
motion for an involuntary bankruptcy and shortly thereafter
appointed Joseph Braunstein as bankruptcy trustee.  Control of the
estate passed to him.

Most of the issues involved in American Bridge's receivership and
bankruptcy have been resolved, but a claim endures by bankruptcy
trustee Lynne Riley to recover from Mr. Decoulos for misfeasance
while receiver that damaged the American Bridge estate.  That
claim is the subject of the present appeal.

Under the Bankruptcy Code, Mr. Decoulos now had an obligation to
account to the federal court as to the property he had held as
receiver (and which now passed to the trustee).  Without filing an
accounting, Mr. Decoulos sought compensation for earlier work as
receiver.  Mr. Braunstein and several creditors objected and the
court allowed an examination of Mr. Decoulos as to the fate of
certain American Bridge assets.  The matter then remained in limbo
while other disputes involving the bankruptcy were resolved.  In
March 1999, Mr. Braunstein resigned as trustee and was replaced in
October 1999 by Ms. Riley.

On March 9, 2000, Ms. Riley filed an adversary proceeding against
Mr. Decoulos personally, alleging inter alia negligence and breach
of fiduciary duty by Mr. Decoulos in his capacity as receiver.
Under Massachusetts law, these two claims had a three-year statute
of limitations, Mass. Gen. Laws ch. 260,  2A (2009); LoCicero v.
Leslie, 948 F. Supp. 10, 12 n.2 (D. Mass. 1996), and Mr. Decoulos
had ceased to be a receiver in 1996.

Nevertheless, the bankruptcy court rejected Mr. Decoulos' statute
of limitations objection on the ground that the statute did not
start to run until Mr. Decoulos had accounted for his
administration and been discharged, and neither had occurred
either in the state court prior to bankruptcy or in the bankruptcy
court thereafter.

The judgment against Mr. Decoulos was for the lesser of $379,174
or the amount needed to pay all creditors and administrative
claims of the estate, In re Am. Bridge Prods., 328 B.R. at 356,
amended thereafter to add prejudgment interest.

On appeal, the district court reversed, ruling that the
Massachusetts statute of limitations ran from the discovery of Mr.
Decoulos' actions and barred Ms. Riley's claims.

In its ruling, the U.S. Court of Appeals for the Fifth Circuit
ordered that the judgment of the district court is vacated and the
case remanded for further proceedings.

The Appeals Court noted, among other things, that the court In re
San Juan Hotel Corp., 847 F.2d 931 (1st Cir. 1988), rejected a
former bankruptcy trustee's argument that "personal liability
actions against a bankruptcy trustee can be time-barred before the
trustee has presented a final account to the bankruptcy court and
been discharged." Id. at 939.  Instead, the court held "a trustee
cannot be released from liability before discharge" because the
purpose of the final accounting is to ensure that a trustee can be
held accountable after making full disclosure. Id. at 939.

A copy of the ruling is available for free at:

         http://researcharchives.com/t/s?58d0


AMCORE FINANCIAL: Gets Notice of Minimum Bid Price Non-Compliance
-----------------------------------------------------------------
AMCORE Financial, Inc., received a notice from The Nasdaq Stock
Market stating that because the minimum bid price of the Company's
common stock was below $1.00 per share for 30 consecutive business
days, the Company was therefore not in compliance with Nasdaq
Marketplace Rule 5450(a)(1).

The notification letter has no effect at this time on the listing
of the Company's common stock on The Nasdaq Global Select Market
and the Company's common stock will continue to trade under the
symbol AMFI.

The letter was issued in accordance with standard Nasdaq
procedures.  AMCORE is provided a grace period of 180 calendar
days in which to regain compliance with the minimum bid price
rule. If at any time before September 7, 2010, the bid price of
AMCORE's stock closes at $1.00 per share or more for a minimum of
10 consecutive business days, Nasdaq will provide written
confirmation to AMCORE that it has regained compliance.

If AMCORE does not regain compliance with the bid price rule by
September 7, 2010, Nasdaq will notify the Company that its common
stock is subject to delisting from The Nasdaq Global Select
Market.  In that event, the Company may appeal the delisting
determination to a Hearings Panel or the Company may be eligible
for an additional grace period of 180 days if it meets the initial
listing standards, with the exception of bid price, and is
approved for transfer to The Nasdaq Capital Market (formerly the
Nasdaq SmallCap Market).

AMCORE intends to actively monitor the bid price for its common
stock between now and September 7, 2010, and will consider
available options to regain compliance with the Nasdaq minimum bid
price requirements.

                         About AMCORE

AMCORE Financial, Inc. is headquartered in Northern Illinois with
66 locations in Illinois and Wisconsin.  AMCORE provides a full
range of consumer and commercial banking services, a variety of
mortgage lending products and wealth management services including
trust, brokerage, private banking, financial planning, investment
management, insurance and comprehensive retirement plan services.


AMERICAN CAPITAL: Judge Cristol Tosses Suit Against SunTrust
------------------------------------------------------------
WestLaw reports that a claim for tortious interference with
contract asserted by a Chapter 11 debtor's insiders against an
indenture trustee did not fall within the bankruptcy court's
"related to" bankruptcy jurisdiction.  The insiders sought to
recover personally on the claim, such that any recovery would not
inure to the benefit of the debtor's bankruptcy estate or its
creditors.  Moreover, the resolution of the dispute would not
create any rights or liabilities with respect to the debtor's plan
or the administration of the estate.  The claim also did not
require the interpretation or application of the debtor's
confirmed plan, and reference to the plan and related documents
would not be necessary to resolve the claim.  In re America
Capital Corp., --- B.R. ----, 2010 WL 670582 (Bankr. S.D. Fla.)
(Cristol, J.).

The Estate of Samuel Adler, Jack D. Burnstein, the Estate of
Harold Brown, Roberto Duenas, Robert Turchin, the Estate of Robert
Sanders, and Harvey Tolin sued (Bankr. S.D. Fla. Adv. Pro. No. 09-
01255) Suntrust Bank, N.A., in its capacity as the indenture
trustee under an $80,000,000 issue of American Capital Corporation
8.40% Subordinated Notes due 1993.  The insider-plaintiffs sought
a declaratory judgment that they were holders of senior
indebtedness; sought to elevate their claims for more than
$1 million (with interest), relating to an alleged "guarantee fee"
on a $3.5 million loan, ahead of the non-insider Noteholders owed
in excess of $230 million, notwithstanding Plaintiffs' explicit
acknowledgement (a) that the loan they guaranteed (and
subsequently purchased) was paid in full by ACC, (b) that the
guarantees were never called, and all collateral was released upon
full payment of the loan, under the debtor's confirmed Chapter 11
plan; alleged tortious interference with contract; and sought
sought payment of a director fee in favor of one insider as senior
indebtedness.  SunTruste moved to dismiss.  The Honorable A. Jay
Cristol dismissed the Complaint with prejudice.

                     About American Capital

Headquartered in Miami, Florida, American Capital Corporation
holds a 65.19% interest in TransCapital Financial Corporation.
TransCapital Financial is a holding and management company that
conducted substantially all of its operations through its wholly-
owned subsidiary, Transohio Savings Bank, FSB.  Transohio Savings'
key activities were banking and lending and its primary lending
activity was the originating and purchasing of loans secured by
mortgages on residential properties.

American Capital filed for Chapter 11 protection (Bankr. S.D. Fla.
Case No.  06-12645) on June 19, 2006.  Mindy A. Mora, Esq., at
Bilzin Sumberg Baena Price & Axelrod LLP, represents the Debtor.
When the Debtor filed for protection from its creditors, it listed
total assets of $52,005,000 and total debts of $207,170,268.

TransCapital Financial Corporation also filed for Chapter 11
protection on June 19, 2006 (Bankr. S.D. Fla. Case No, 06-12644)
and is represented by Paul J. Battista, Esq., at Genovese Joblove
& Battista, P.A.


AMERICAN INT'L: Macquarie May Bid for Aircraft Assets for $3.5BB
----------------------------------------------------------------
Bloomberg News, citing the Australian Financial Review, reports
that Macquarie Group Ltd. may bid for American International Group
Inc.'s $3.5 billion of aircraft assets.

The Review said Macquarie and partner Och-Ziff Capital Management
Group are seeking assets from International Lease Finance Corp.,
according to Bloomberg.

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.


AMERICAN SPECTRUM: Gets Possible Delisting Notice From NYSE AMEX
----------------------------------------------------------------
American Spectrum Realty, Inc., received notice from the NYSE AMEX
LLC indicating that the Company no longer complies with the
Exchange's continued listing standards due to not maintaining
minimum stockholders' equity requirements as set forth in Sections
1003(a)(ii) and (iii) of the AMEX Company Guide, and that its
securities are, therefore, subject to being delisted from the
Exchange. The Company has appealed this determination and
requested a hearing before a committee of the Exchange.  There can
be no assurance the Company's request for continued listing will
be granted. The Company believes that its securities are eligible
to trade on another marketplace.

American Spectrum Realty, Inc., is a real estate investment
company that owns 30 offices, industrial and retail properties
aggregating approximately 2.7 million square feet in California,
Texas, Arizona and the Midwest, and has been publicly traded on
the Exchange since 2001.  American Spectrum Management Group,
Inc., a wholly-owned subsidiary of American Spectrum Realty, Inc.,
manages and leases all properties owned by American Spectrum
Realty, Inc.


DISCOVER FINANCIAL: To Further Enhance Loan Loss Reserve
--------------------------------------------------------
Discover Financial Services will record an increase in reserves of
$305 million pre-tax in the first quarter 2010, which brings its
reserve coverage to approximately twelve months of losses.  This
reserve addition results from a new analytical process that
enhances management's ability to estimate incurred losses on non-
delinquent accounts.

Including the impact of the reserve addition, Discover expects to
report a loss per share for the first quarter 2010 of $.22 to
$.23.

Discover also estimates that the first quarter net principal
charge-off rate for its Direct Banking segment will be
approximately 8.5%, up from 8.43% in the fourth quarter 2009.  The
over 30-day delinquency rate is estimated to be approximately 5%,
a reduction of approximately 25 basis points from the fourth
quarter 2009.  Based on current credit performance trends within
its loan portfolio, the company believes that the amount of
delinquent loan balances may have peaked in the fourth quarter
2009.

Discover plans to report first quarter 2010 results after the
close of trading on March 16, 2010.  A conference call to discuss
the firm's results, outlook and related matters will be held at 5
p.m. Eastern time.  The general public is invited to listen to the
call by dialing 866-277-1182 (U.S. domestic) or 617-597-5359
(international) passcode 33082119, or via a live audio webcast
through the Investor Relations section of the Web site.  For those
unable to listen to the live broadcast, a replay will be available
on our Web site or by dialing 888-286-8010 (U.S. domestic) or 617-
801-6888 (international), passcode 13388966, beginning
approximately two hours after the event. The replay of the
conference call will be available through April 16, 2010.

                             About Discover

Discover Financial Services is a credit card issuer
and electronic payment services company with one of the most
recognized brands in U.S. financial services.  Since its inception
in 1986, the company has become one of the largest card issuers in
the United States.  The Company operates the Discover Card,
America's cash rewards pioneer, and offers student and personal
loans, as well as savings products such as certificates of deposit
and money market accounts.  Its payments businesses consist of the
Discover Network, with millions of merchant and cash access
locations; PULSE, one of the nation's leading ATM/debit networks;
and Diners Club International, a global payments network with
acceptance in 185 countries and territories.

                          *     *     *

As reported by the Troubled Company Reporter on June 3, 2009,
Moody's Investors Service downgraded the ratings of Discover
Financial Services (senior unsecured to Ba1 from Baa3) and wholly-
owned subsidiary Discover Bank (senior unsecured to Baa3 from
Baa2) and kept the rating outlook at negative.


ARAMARK CORP: Bank Debt Trades at 4% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which ARAMARK Corp. is a
borrower traded in the secondary market at 96.41 cents-on-the-
dollar during the week ended Friday, March 12, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.92 percentage
points from the previous week, The Journal relates.  The Company
pays 188 basis points above LIBOR to borrow under the facility.
The bank loan matures on J an. 26, 2014, and carries Moody's Ba3
rating and Standard & Poor's BB rating.  The debt is one of the
biggest gainers and losers among 193 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

ARAMARK Corp. -- http://www.aramark.com/-- is the world's #3
contract foodservice provider (behind Compass Group and Sodexo)
and the #2 uniform supplier (behind Cintas) in the US.  It offers
corporate dining services and operates concessions at many sports
arenas and other entertainment venues, while its ARAMARK
Refreshment Services unit is a leading provider of vending and
beverage services.  The Company also provides facilities
management services.  Through ARAMARK Uniform and Career Apparel,
the company supplies uniforms for healthcare, public safety, and
technology workers.  Founded in 1959, ARAMARK is owned by an
investment group led by chairman and CEO Joseph Neubauer.

ARAMARK Corp. carries a 'B1' long term corporate family rating
from Moody's, a 'B+' long term issuer credit ratings from Standard
& Poor's, and a 'B' long term issuer default rating from Fitch.


ARDENT MEDICAL: Loan Reduction Won't Affect Moody's 'B1' Rating
---------------------------------------------------------------
Moody's Investors Service commented that the ratings of Ardent
Medical Services, Inc., are not immediately impacted by the
reduction of its new term loan to $325 million from $400 million.
However, Moody's is revising the loss estimate of the LGD
assessment on Ardent's revolver and term loan to B1 (LGD3, 35%)
from B1 (LGD3, 37%) as a result of the reduction in the amount of
secured debt in the capital structure of the company.

The last rating action on Ardent was on February 23, 2010, when
Moody's assigned a B2 Corporate Family and Probability of Default
Rating and a B1 rating on the new credit facilities.

Headquartered in Nashville, Tennessee, Ardent Health Services,
through its subsidiaries, operates eight acute care hospitals and
other healthcare facilities in two states and a health plan in one
state.  The Company recognized approximately $1.8 billion in
revenue for the year ended December 31, 2009.


ASYST TECHNOLOGIES: Discloses March 5 Plan Effective Date
---------------------------------------------------------
On February 18, 2010, the Bankruptcy Court entered an order
confirming Asyst Technologies, Inc.'s Chapter 11 plan of
liquidation, dated December 23, 2009.  Under the Plan, only
secured creditors, led by KeyBank National Association, as
administrative agent for lenders owed $74.9 million principal
under a prepetition term loan, are getting recovery.  All other
creditor groups and interest holders would be wiped out.

According to a filing with the Securities and Exchange Commission,
all the conditions precedent to the effectiveness of the Debtor's
Plan were satisfied or waived on or prior to March 4, 2010.  As
such, the Plan's Effective Date occurred on March 5, 2010.

A full-text copy of the final order approving the disclosure
statement and confirming the Debtor's plan of liquidation is
available for free at:

               http://researcharchives.com/t/s?58c1

A full-text copy of the notice of effective date of the Debtor's
Chapter 11 plan of liquidation is available for free at:

               http://researcharchives.com/t/s?58c0

                    About Asyst Technologies

Headquartered in Fremont, California, Asyst Technologies, Inc. --
http://www.asyst.com/-- is a leading provider of integrated
automation solutions primarily for the semiconductor and flat
panel display manufacturing industries.  The Company is the parent
company of seven subsidiaries located in various jurisdictions
worldwide.  Principally, the Company is the owner of a non-
operating holding company organized under the laws of Japan, Asyst
Technologies Holdings Company, Inc.  Asyst Japan Holdings in turn
owns the operating company Asyst Technologies Japan, Inc.

The Company filed for Chapter 11 on April 20, 2009 (Bankr. N.D.
Calif. Case No. 09-43246).  Ali M.M. Mojdehi, Esq., Janet D.
Gertz, Esq., and Rayla Dawn Boyd, Esq., at the Law Offices of
Baker and McKenzie, serve as the Debtor's bankruptcy counsel.
Epiq Bankruptcy Solutions LLC is the Debtors' notice and claims
agent.  AlixPartners, LLP  serves as financial advisor.  Andrew I.
Silfen, Esq., Mette H. Kurth, Esq., Michael S. Cryan, Esq., and
Schuyler G. Carroll, Esq., at Arent Fox LLP, represent the
official committee of unsecured creditors.  As of December 31,
2008, Asyst had total assets of $295,782,000 and total debts of
$315,364,000.

The Company's Japanese subsidiaries, Asyst Technologies Holdings
Company, Inc., and Asyst Technologies Japan, Inc., entered into
related voluntary proceedings under Japan's Corporate
Reorganization Law (Kaisha Kosei Ho) on April 20, 2009.  Kosei
Watanabe was appointed as Trustee of Asyst Japan Holdings and ATJ.


AVEO PHARMACEUTICALS: Raises $81 Million in IPO of Common Stock
---------------------------------------------------------------
In a report carried by BusinessWeek Friday, Bloomberg's Michael
Tsang and Craig Trudell say that AVEO Pharmaceuticals, Inc., which
is developing a treatment for kidney cancer, sold $81 million of
shares in its initial public offering.

The report says that AVEO priced 9 million shares at $9 each on
Thursday after trying to sell as much as $105 million in a
7 million-share deal at $13 to $15 each.  According to the report,
shares of the Cambridge, Massachusetts-based company slipped 0.1%
to $8.99 in Nasdaq Stock Market trading Friday.

AVEO, which hired JPMorgan Chase & Co. and Morgan Stanley of New
York to lead its sale, will begin trading on the Nasdaq Stock
Market under the ticker AVEO.

The report says that the Company intends to use the proceeds from
the IPO to help fund the clinical trial of a drug called
tivozanib, which is in the final stage of testing for U.S.
approval in patients with kidney cancer.  The report adds that
AVEO has yet to gain clearance for any of its drugs and does not
expect to generate revenue from product sales until at least 2013.

Its auditor, Ernst & Young LLP, said AVEO's losses raised
"substantial doubt" about the company's ability to continue as a
going concern without additional financing by the end of the year,
according to the SEC filing.

Michael Tsang may be reached at mtsang1@bloomberg.net; Craig
Trudell may be reached at ctrudell1@bloomberg.net.

AVEO filed a prospectus pursuant to Rule 424(b)(4) on Friday for
its initial public offering of 9,000,000 shares of its common
stock, with an IPO price of $9.00 per share.

A full-text copy of the Form 424B4 filing is available at no
charge at http://researcharchives.com/t/s?58ad

                    About AVEO Pharmaceuticals

Cambridge, Mass.-based AVEO Pharmaceuticals, Inc., is a
biopharmaceutical company focused on discovering, developing and
commercializing novel cancer therapeutics.  The Company's product
candidates are directed against important mechanisms, or targets,
known or believed to be involved in cancer.  The Company's lead
product candidate is Tivozanib, which is in phase 3 clinical
development for the treatment of patients with advanced renal cell
cancer, or RCC.


BALDEV SEKHON: Case Summary & 8 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Baldev S. Sekhon
        2392 Wingedfoot Drive
        Westlake, OH 44145

Bankruptcy Case No.: 10-11907

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       Northern District of Ohio (Cleveland)

Judge: Randolph Baxter

Debtor's Counsel: Mary Ann Rabin, Esq.
                  Rabin & Rabin Co LPA
                  55 Public Sq., Suite 1510
                  Cleveland, OH 44113
                  Tel: (216) 771-8084
                  Fax: (216) 771-4615
                  Email: mrabin@rabinandrabin.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 $1,961,732,
and total debts of $979,455.

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

                  http://bankrupt.com/misc/ohnb10-11907.pdf

The petition was signed by Baldev S. Sekhon.


BANK OF FLORIDA: Posts $147.8 Million Net Loss in 2009
------------------------------------------------------
Bank of Florida Corporation filed its annual report on Form 10-K,
showing a net loss of $147.5 million for 2009, compared with a net
loss of $13.2 million for 2008.  Net interest income decreased
$6.1 million or 14.3% in 2009 to $36.7 million, primarily the
result of the reduction in interest rates year over year.

The Company's balance sheet as of Dec. 31, 2009, showed
$1.402 billion in assets, $1.358 billion of debts, and
$43.8 million of stockholders' equity.

Porter Keadle Moore, LLP, inc Fort Myers, Florida, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that of the
Company's recurring operating losses and the continued
deterioration of the Company's loan portfolio.

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

                  http://researcharchives.com/t/s?58c4

Naples, Fla.-based Bank of Florida Corporation. (Nasdaq: BOFL)
-- http://www.bankofflorida.com/-- is a multi-bank holding
company.  The Company is the parent company for Bank of Florida -
Southwest in Collier and Lee Counties; Bank of Florida - Southeast
in Broward, Miami-Dade and Palm Beach Counties; Bank of Florida -
Tampa Bay in Hillsborough and Pinellas Counties; and Bank of
Florida Trust Company.


BANK OF FLORIDA: Commences Public Offering of Common Shares
-----------------------------------------------------------
Bank of Florida Corporation disclosed Friday that it has commenced
an offering to sell shares of its common stock in a public
offering to raise at least $45.0 million.  The offering will
consist of two components: a rights offering and a supplemental,
best-efforts offering.  Kendrick Pierce & Co. is acting as the
dealer manager and lead placement agent for the offering.

The Company intends to offer approximately 38.9 million shares
through a rights offering, and a supplemental offering of
44.6 million shares of common stock, at a to-be-determined price.
Shareholders of record as of March 8, 2010, will receive three
rights for every share owned.  Each right will allow the holder to
purchase one share of common stock.  The Company expects to use
approximately $37.0 million of the net proceeds from the offering
to capitalize its subsidiary banks such that they regain
"adequately capitalized" status.  In addition, the Company expects
to use a portion of the net proceeds of the offering to redeem any
shares of its outstanding Series B Preferred Stock that are not
converted by the holders of the Series B Preferred Stock according
to its terms.

A registration statement relating to shares of the Company's
common stock to be sold in the offering has been filed with the
Securities and Exchange Commission but has not yet become
effective.  The registration statement also covers shares of the
Company's common stock issuable upon conversion of shares of its
Series B Preferred Stock that are not redeemed for cash.  None of
the shares of common stock covered by the registration statement
may be sold, nor may offers to buy be accepted, prior to the time
the registration statement becomes effective.

A full-text copy of the Company's registration statement on Form
S-1 is available for free at http://researcharchives.com/t/s?58c5

                      About Bank of Florida

Naples, Fla.-based Bank of Florida Corporation. (Nasdaq: BOFL)
-- http://www.bankofflorida.com/-- is a multi-bank holding
company.  The Company is the parent company for Bank of Florida -
Southwest in Collier and Lee Counties; Bank of Florida - Southeast
in Broward, Miami-Dade and Palm Beach Counties; Bank of Florida -
Tampa Bay in Hillsborough and Pinellas Counties; and Bank of
Florida Trust Company.

The Company's balance sheet as of Dec. 31, 2009, showed
$1.402 billion in assets, $1.358 billion of debts, and
$43.8 million of stockholders' equity.

                       Going Concern Doubt

Porter Keadle Moore, LLP, inc Fort Myers, Florida, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that of the
Company's recurring operating losses and the continued
deterioration of the Company's loan portfolio.


BEAR ISLAND: Asks for OK to Obtain Financing, Use Cash Collateral
-----------------------------------------------------------------
Bear Island Paper Company, L.L.C., has asked for authorization
from the U.S. Bankruptcy Court to obtain postpetition secured
financing from a syndicate of lenders led by Credit Suisse AG, as
administrative agent, and use the cash collateral of existing
secured lenders.

The DIP lenders have committed to provide up to $140 million to
fund the Chapter 11 case.  Upon entry of the interim DIP order, up
to $104 million will be initially available from the DIP facility.
A copy of the credit agreement is available for free at:

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

Jonathan L. Hauser, Esq., at Troutman Sanders LLP, the attorney
for the Debtor, relates the DIP facility will mature nine months
from the closing date.

Amounts outstanding under the postpetition facility will bear, at
the Debtor's option: (i) One month LIBOR -- the interest rate at
which U.S. dollars are offered for deposit in the London interbank
market or (b) 2.0% per annum -- adjusted for statutory reserves,
plus 10.0% per annum payable monthly in arrears; or (ii) during
the periods that a loan under the postpetition facility is a Base
Rate Loan the interest rate will be calculated for any day at a
rate per annum equal to the greatest of (a) the Prime Rate in
effect on the day, (b) the Federal Funds Effective Rate in effect
on the day plus « of 1% and (c) 3.00%.

The Debtor will pay the Lenders:

     a. an arranger fee -- 2.5% of the DIP commitment to
        Administrative Agent, for the benefit of the arrangers, to
        be paid upon the entry of the interim orders;

     b. an initial fee -- 2.5% of the DIP commitment to
        Administrative Agent, for the ratable benefit of the
        Lenders, to be paid upon the entry of the interim orders;

     c. an administrative fee -- $100,000 to Administrative Agent,
        for the benefit of the Administrative Agent, to be paid on
        the closing date, plus $25,000 to Administrative Agent,
        for the benefit of the Administrative Agent, in the event
        that the maturity date is extended beyond nine months
        after the closing date, to be paid on the date of the
        extension, plus $25,000 to Administrative Agent, for the
        benefit of the Administrative Agent, in the event that the
        maturity date is extended beyond 12 months after the
        closing date, to be paid on the date of such extension
        (and $25,000 for each additional three-month extension
        thereafter, to be paid on the date of the extension);

     d. a prepayment Fee -- 4% of the DIP commitment to the
        Administrative Agent, for the ratable benefit of the
        Lenders, to be paid upon the earlier of the maturity date
        (as it may be extended) and the reduction, in whole or in
        part, of the DIP Commitment;

     e. a Commitment Fee -- equal to (a) the average of the daily
        difference of (i) the DIP Commitments minus (ii) the
        aggregate principal amount of all outstanding DIP Loans
        times or (b) 2.0% per annum for the period from and
        including the closing date to the maturity date.

The Debtor's obligations of the Lenders, subject to the Carve-Out,
will include: (i) allowed joint and several super-priority
administrative expense claims having priority over all
administrative expenses; (ii) a perfected first
priority senior lien on all collateral that is not otherwise
subject to valid, perfected and nonavoidable liens as of the
Commencement Date; (iii) a perfected second priority junior lien
on all collateral that is otherwise subject to (a) valid,
perfected and nonavoidable liens as of the Commencement Date or
(b) valid liens in existence at the Commencement Date that are
perfected subsequent to the Commencement Date; and (iv) a
perfected first priority senior priming lien on the existing
collateral, subject to valid, perfected and nonavoidable liens in
existence on the Commencement Date to which the liens in the
existing collateral granted in connection with the existing credit
agreements are subject in accordance with the existing credit
agreements, to the extent that the liens and security interests
are valid, perfected, enforceable and non-avoidable.

The DIP lien is subject to a carve-out for U.S. Trustee and Clerk
of Court fees; up to $2,800,000 in fees payable to professional
employed in the Debtors' case and fees of the committee in
pursuing actions challenging the DIP Lenders' lien.

Mr. Hauser says that the Debtor will also use the cash collateral
to provide additional liquidity.

                         About Bear Island

White Birch is the second-largest newsprint producer in North
America.  As of December 31, 2009, the WB Group held a 12% share
of the North American newsprint market and employed roughly 1,300
individuals (the majority of which reside in Canada).
Additionally, for the 12 months ended December 31, 2009, the WB
Group maintained an annual production capacity of roughly
1.3 million metric tons of newsprint and directory paper, up to
50% of which consists of recycled content, and achieved net sales
of roughly $667 million.

Bear Island's assets are almost exclusively located in the U.S.

Bear Island Paper Company, L.L.C., filed a voluntary petition for
relief under Chapter 11 of the United States Bankruptcy Code in
the United States Bankruptcy Court for the Eastern District of
Virginia on February 24, 2010.

The company's parent, White Birch Paper Company, filed for
bankruptcy protection under Canada's Companies' Creditors
Arrangement Act, before the Superior Court for the Province of
Quebec, Commercial Division, Judicial District of Montreal,
Canada.  White Birch and five other affiliates -- F.F. Soucy
Limited Partnership; F.F. Soucy, Inc. & Partners, Limited
Partnership; Papier Masson Ltee; Stadacona Limited Partnership;
and Stadacona General Partner, Inc. -- also sought bankruptcy
protection under Chapter 15 of the U.S. Bankruptcy Code.

Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia
Beach, Virginia; and Richard M. Cieri, Esq., Christopher J.
Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP,
in New York, serve as counsel to White Birch, as Foreign
Representative.  Kirkland & Ellis and Troutman Sanders also serve
as Chapter 11 counsel to Bear Island.  AlixPartnes LLP serves as
financial/restructuring advisor to Bear Island, and Lazard Freres
& Co., serves as investment banker.  Chief Judge Douglas O. Tice,
Jr., handles the Chapter 11 and Chapter 15 cases.


BEARINGPOINT INC: Trustee to Probe Sale, Wants Docs From Cerberus
-----------------------------------------------------------------
netDockets reports that John DeGroote Services, LLC, the
liquidating trustee of the BearingPoint, Inc. Liquidating Trust,
is asking the Bankruptcy Court for permission to serve document
requests on Cerberus Capital Management, L.P. and require Cerberus
to produce discovery at the offices of counsel for the liquidating
trustee, Bingham McCutchen LLP.

John DeGroote Services was appointed as liquidating trustee
pursuant to BearingPoint's Modified Second Amended Joint Plan,
which became effective on December 30, 2009.  Pursuant to the
Plan, the trustee "is the assignee of estate causes of action, and
has the power to investigate and prosecute for the benefit of the
Liquidating Trust Beneficiaries causes of action that may from
time to time be held by the Liquidating Trust for the purpose of
maximizing the proceeds of the Liquidating Trust Assets."

The liquidating trustee, according to netDockets, is seeking
discovery from Cerberus to understand the sale process and
potential value of the company had BearingPoint or any of its
assets been sold prior to bankruptcy.  The trustee also seeks
access to records either received from BearingPoint or
communicated to BearingPoint by parties who expressed an interest
in purchasing all or part of BearingPoint.  According to
netDockets, the trustee asserts that pre-bankruptcy potential
sales "warrant inquiry" because the confirmed Plan "involves a
controlled liquidation and provides almost nothing for unsecured
creditors, and yet, as the Trustee is now aware, within the year
before the commencement of the cases, interested parties appear to
have rejected potential transactions that contemplated full
creditor payout and shareholder return."  netDockets says the
trustee suggests that BearingPoint's failure to sell its assets in
2007 and 2008 may give rise to an "actionable breach of duty by
estate fiduciaries."

According to netDockets, the trustee points out that Cerberus at
various points during 2007 and 2008, was engaged in direct
negotiations with BearingPoint and its management, including its
officers, related to the potential acquisition by Cerberus of all
or a portion of the assets of the Company.  While those
negotiations obviously did not result in a transaction, the
trustee asserts that discovery from Cerberus is appropriate
because "Cerberus therefore has direct, personal knowledge of
evidence demonstrating the conduct of the sale process by
[BearingPoint], the perceived value of [BearingPoint] and its
various business units in 2007 and/or 2008, and the circumstances
that ultimately led Cerberus to determine not to acquire all
and/or part of the assets of [BearingPoint]."

                      About BearinPoint Inc.

BearingPoint, Inc. -- http://www.BearingPoint.com/-- was one of
the world's largest providers of management and technology
consulting services to Global 2000 companies and government
organizations in more than 60 countries worldwide.

BearingPoint, Inc., fka KPMG Consulting, Inc., together with its
units, filed for Chapter 11 protection on February 18, 2009
(Bankr. S.D.N.Y., Case No. 09-10691).  The Debtors' legal advisor
is Weil, Gotshal & Manges, LLP, their restructuring advisor is
AlixPartners LLP, and their financial advisor and investment
banker is Greenhill & Co., LLC. Jeffrey S. Sabin, Esq., at Bingham
McCutchen LLP represents the Creditors' Committee.  Garden City
Group serves as claims and notice agent.

BearingPoint disclosed total assets of $1.655 billion and debts
of $2.201 billion as of December 31, 2008.

On the petition date, BearingPoint filed a Chapter 11 plan of
reorganization negotiated with lenders prepetition.  BearingPoint,
however, changed course and has instead pursued a sale of its
units, after determining that creditor recoveries would be
maximized through sales of the businesses.

On December 22, 2009, the Bankruptcy Court entered an order
confirming the Debtors' Modified Second Amended Joint Plan Under
Chapter 11 of the Bankruptcy Code, dated December 17, 2009.  On
December 30, 2009, the Debtors satisfied the conditions precedent
to the effectiveness of the Plan and on December 31, 2009, a
Notice of Effective Date of the Plan was filed with the Bankruptcy
Court.


BEDMINSTER INTERNATIONAL: Chapter 15 Case Summary
-------------------------------------------------
Chapter 15 Petitioner: Michael McAteer

Chapter 15 Debtor: Bedminster International Limited
                   (in Provisional Liquidation)
                   Oyster Point, Temple Road, Blackrock, Co
                   Dublin
                   Ireland

Chapter 15 Case No.: 10-12476

Type of Business: Bedminster International is an Irish
                  entrepreneurial company leading the green
                  movement in the conversion of municipal waste to
                  compost and/or fuel for green renewable energy.

Chapter 15 Petition Date: March 10, 2010

Court: District of Massachusetts (Boston)

Judge: Joan N. Feeney

Chapter 15 Petitioner's Counsel: Gregory O. Kaden, Esq.
                                 Goulston & Storrs, PC
                                 400 Atlantic Avenue
                                 Boston, MA 02110-3333
                                 Tel: (617) 482-1776
                                 Fax: (617) 574-4112
                                 Email: gkaden@goulstonstorrs.com

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

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


BLACK GAMING: Can Use of Wells Fargo, Noteholders Cash Collateral
-----------------------------------------------------------------
Judge Bruce A. Markell signed off on a stipulation that allows
Black Gaming LLC and its debtor-affiliates to use cash on hand,
deposit accounts and postpetition cash that secure their
obligations to their prepetition lender to fund their operations
while under Chapter 11 bankruptcy protection.

Wells Fargo Capital Finance, Inc., which serves as the arranger
and administrative agent for the Lender Group, claims a first
priority security interest in the Debtors' real and personal
property pursuant to a $15 million December 2004 revolving credit
facility.

Holders of the Debtors' $125 million of 9% notes due January 15,
2012, assert a second priority security interest in the assets.
The Bank of New York Mellon Trust Company, N.A., serves as trustee
under the indenture governing the notes.  BNY Mellon also serves
as trustee for the holders of $66 million of the Debtors' senior
subordinated notes.

The Debtors have told the Court they cannot meet their ongoing
postpetition obligations absent use of the Cash Collateral.

The stipulation permits the Debtors to use Cash Collateral
pursuant to a budget while preserving claims by the Debtors, Wells
Fargo, certain consenting senior secured noteholders and BNY
Mellon regarding the Cash Collateral.  The stipulation also
provides adequate protection to Wells Fargo and the senior secured
noteholders for their security interests in the Cash Collateral.

                          Chapter 11 Plan

The Debtors have filed a plan of reorganization, which provides
that:

     -- all existing memberships in Black Gaming will be
        extinguished and cancelled;

     -- a new entity will be formed;

     -- each of the senior secured noteholders will receive, in
        full satisfaction of their claims, their pro rata share
        of:

        (a) newly issued promissory notes of Newco under a
            $62.5 million five-year term loan;

        (b) a $9.25 million maximum cash contribution from Michael
            Gaughan, Anthony Toti and Newport Global Advisors LP
            as investor parties -- less the amount equal to the
            new equity interests issued to the Senior Secured
            Noteholders; and

        (c) cash in the possession of the Debtors immediately
            prior to plan effective date plus a $9 million cash
            investment, minus the sum of (i) a $10 million
            Minimum Cash Amount, (ii) the amount of the unpaid
            balance owing on the Senior Credit Facility
            immediately prior to the Substantial Consummation
            Date, and (iii) a Disputed Claim Reserve;

        (d) the Senior Subordinated Noteholders will receive in
            full satisfaction of their claims, warrants for 5% of
            the fully-diluted new equity interests in Newco struck
            at the enterprise value of (x) $140,000,000, plus (y)
            the aggregate amount as of the Effective Date of
            accrued and unpaid interest in respect of the notes
            issued pursuant to the new Senior Secured Note
            Facility less the Cash Payment;

        (e) Wells Fargo will receive payment in full of their
            allowed claims under the Senior Credit Facility; and

        (f) the Investor Parties will make the Investors Parties'
            Contribution, which is an aggregate amount up to the
            maximum of $18.25 Million, consisting of the Cash
            Contribution and the $9 Million Cash Investment, in
            exchange for 100% of the equity interests in Newco,
            subject to reduction in the amount of the issued
            Senior Secured Noteholder New Equity Interests and to
            dilution as a result of warrants issued to the Senior
            Subordinated Noteholders.

                         Enterprise Value

Gerald M. Gordon, Esq., at Gordon Silver in Las Vegas, Nevada,
said the Debtors, Wells Fargo, the Consenting Senior Secured
Noteholders and the Senior Secured Indenture Trustee negotiated
the Cash Collateral Stipulation at arm's-length and in good faith.

Mr. Gordon also noted that as of the Petition Date, the Debtors
are informed and believe that the enterprise value of the Debtors'
businesses as a going concern is less than the total amount owed
under the Senior Credit Facility and the Senior Secured Notes.
The Debtors believe that the enterprise value of the Debtors'
businesses will not diminish provided the Debtors' businesses
continuing to operate in the ordinary course and the expenditure
of capital expenditures as proposed in the budget, all gaming
licenses and permits remaining in place, and present management
remaining in place.

Wells Fargo is represented in the case by Paul, Hastings, Janofsky
& Walker LLP and Kolesar & Leatham, Chtd.  The Consenting Senior
Secured Noteholders are represented in the case by Cadwalader,
Wickersham & Taft, LLP, and Santoro, Driggs, Walch, Kearney,
Holley & Thompson.

Pursuant to the stipulation, the Debtors also have agreed to pay
in full in cash on an ongoing basis the current, reasonable and
documented fees and expenses incurred after the Petition Date of:

     (1) CWT and Santoro Driggs as counsel to the Consenting
         Senior Secured Noteholders,

     (2) Morgan Joseph & Co. as financial advisor to the
         Consenting Senior Secured Noteholders pursuant to the
         terms of its engagement letter dated January 8, 2008,
         between MJ and CWT,

     (3) Paul Hastings and K&L as counsel to Wells Fargo; and

     (4) Emmett, Marvin & Martin, LLP, as counsel for the Senior
         Secured Indenture Trustee -- for which fees and costs
         will not exceed $50,000 during the pendency of the
         Chapter 11 cases.

All of the amounts to be paid to such professionals will be paid
without further motion or fee application.

A full-text copy of the Cash Collateral Stipulation, including
the Debtors' budget, is available at no charge at
http://bankrupt.com/misc/BlackGamingCCStipulation.pdf

A final hearing on the Cash Collateral Stipulation will be held on
March 29, 2010.

                        About Black Gaming

Headquartered in Las Vegas, Nev., Black Gaming, LLC, is a holding
company and is an owner and operator of three gaming entertainment
properties located in Mesquite, Nevada.

The Company filed for Chapter 11 bankruptcy protection on March 1,
2010 (Bankr. D. Nev. Case No. 10-13301).  Gregory E. Garman, Esq.,
and Talitha B. Gray, Esq., at Gordon & Silver, Ltd., assist the
Company in its restructuring effort.  Kurtzman Carson Consultants
is the Company's claims and notice agent.  In its petition, the
Company listed $10,000,001 to $50,000,000 in assets and
$100,000,001 to $500,000,000 in liabilities.

The Company's affiliates -- B&BB, Inc.; R. Black, Inc.; Casablanca
Resorts, LLC; Casablanca Resorts, LLC; Oasis Interval Ownership,
LLC; Oasis Interval Management, LLC; Oasis Recreational
Properties, Inc.; RBG, LLC; and Virgin River Casino Corporation --
filed separate Chapter 11 petitions.


BONDED LOGIC INC: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Bonded Logic, Inc.
        24053 S Arizona Ave, Suite 151
        Chandler, AZ 85248

Bankruptcy Case No.: 10-06170

Chapter 11 Petition Date: March 9, 2010

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

Judge: Randolph J. Haines

Debtor's Counsel: Michael W. Carmel, Esq.
                  80 E. Columbus Ave
                  Phoenix, AZ 85012-4965
                  Tel: (602) 264-4965
                  Fax: (602) 277-0144
                  Email: michael@mcarmellaw.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
20 largest unsecured creditors, is available for free at:

                   http://bankrupt.com/misc/azb10-06170.pdf

The petition was signed by James H. Kean, president of the
Company.


BRUCE NEVIASER: M&I Bank Asks Court to Forbid Cash Collateral Use
-----------------------------------------------------------------
M&I Marshall & Ilsley Bank has asked the U.S. Bankruptcy Court for
the Western District of Wisconsin to prohibit Bruce D. Neviaser
from using cash collateral.

M&I Bank wants to pursue enforcement of its liens against the
Debtor's Blackhawk Road Property, Ft. Myers Condo, and the St.
Petersburg Condo.  M&I Bank says that the Fort Myers Condo and the
St. Petersburg Condo generate rents which the Debtor continues to
use without the consent of the Bank or Court approval, to M&I
Bank's damage.  The Court should prohibit Debtor's use of cash
collateral or condition its use on adequate protection.

In October 2004, for value received, Debtor and his non-debtor
spouse Susan W. Nevaiser executed a mortgage note in the original
principal amount of $2,800,000 (the Blackhawk Note) evidencing a
loan from the Bank (the Blackhawk Loan).

In June 2006, the Neviasers entered into an Interest-Only Balloon
Modification Agreement (the Blackhawk Modification Agreement) with
the M&I Bank, pursuant to which the terms of the Blackhawk Loan
and Blackhawk Note were modified.  The Blackhawk Note is secured
by a first Mortgage dated October 15, 2004 (the Blackhawk
Mortgage) executed by the Neviasers in favor of the Bank
pertaining to certain real estate located at 7326 Blackhawk Road,
Middleton, Wisconsin 53562 (the Blackhawk Road Property).  The
Neviasers defaulted under the Blackhawk Note and Blackhawk
Mortgage by failing to make payments when due.

In February 2008, for value received, the Neviasers and M&I Bank
entered into a Home Equity Credit Agreement (the Blackhawk HELOC
Agreement), pursuant to which M&I Bank agreed to lend them up to
the aggregate principal amount of $250,000, subject to its terms
(the Blackhawk HELOC Loan).  The Blackhawk HELOC Agreement was
secured by a second Mortgage on the Blackhawk Road Property dated
February 21, 2008.  The Neviasers defaulted under the Blackhawk
HELOC Agreement by failing to make payments when due.

Due to the defaults, M&I Bank commenced a foreclosure action which
is pending in Circuit Court for Dane County, Wisconsin.

In December 2009, a foreclosure judgment was duly entered with
respect to the Blackhawk Road Property.

M&I Bank is owed the sum of $3,143,235.02 as of the Petition Date
with interest accruing at the rate of $242.12 per day, together
with M&I Bank's reasonable attorneys' fees and expenses.

The Blackhawk Road Property was assessed at $1,793,500 for the
year 2009.  The Bank has obtained an appraisal of the Blackhawk
Road Property valuing it at $1,450,000 as of September 15, 2009.
The value of the Blackhawk Road Property is less than the amount
owed to M&I Bank.

The Debtor has vacated the premises and declines to insure it.

In December 2004, the Neviasers executed a mortgage note (the Fort
Myers Condo Note) in the original principal amount of $312,000,
evidencing a loan for the purchase of a condominium unit in Fort
Myers, Florida.  As security for the Fort Myers Condo Note, the
Neviasers executed a first Mortgage dated December 15, 2004.  The
Neviasers defaulted on the Fort Myers Condo Note and Mortgage.

M&I Bank commenced an action in the Circuit Court of the 20th
Judicial Circuit in and for Lee County, Florida, seeking
foreclosure of the Fort Myers Condo Mortgage (the Fort Myers Condo
Foreclosure).

As of the Petition Date, the Debtor owes $312,000 with respect to
the Fort Myers Condo Note.  The value of the Fort Myers Condo is
assessed at $167,000.

In November 2004, the Neviasers executed a mortgage note (the St.
Petersburg Condo Note) in the original principal amount of
$264,000, evidencing a loan for the purchase of a condominium unit
in St. Petersburg, Florida.  As security for the St. Petersburg
Condo Note, the Neviasers executed a first Mortgage dated
November 23, 2004.  The Neviasers defaulted on the St. Petersburg
Condo Note and Mortgage.

M&I Bank commenced an action in the Circuit Court of the 6th
Judicial Circuit in and for Pinellas County, Florida, seeking
foreclosure of the St. Petersburg Condo Mortgage.  The Neviasers
are in default with respect to the St. Petersburg Condo
Foreclosure and but for the automatic stay, M&I Bank would have
the right to complete the St. Petersburg Condo Foreclosure.

As of the Petition Date, the Debtor owes $264,000 with respect to
the St. Petersburg Condo Note.  The value of the St. Petersburg
Condo is assessed at $179,912.

M&I Bank is represented by Roy L. Prange, Jr.

Middleton, Wisconsin-based Bruce D. Neviaser filed for Chapter 11
bankruptcy protection on January 7, 2010 (Bankr. W.D. Wis. Case
No. 10-10062).  J. David Krekeler, Esq., who has an office in
Madison, Wisconsin, assists the Debtor in his restructuring
effort.  The Debtor listed $1,000,001 to $10,000,000 in assets and
$10,000,001 to $50,000,000 in liabilities.


CAMERON-811: Seeks Cash Collateral Use for Advances to Vendors
--------------------------------------------------------------
Cameron-811 Rusk, L.P., seeks permission from the U.S. Bankruptcy
Court for the Southern District of Texas to use cash collateral to
fund operations while in bankruptcy.  Cameron-811 said it has
positive cash flow, but its vendors will probably require cash in
advance for performance of services and delivery of supplies.

Cameron-811 said Redus TX Properties, LLC, which holds a lien on
its assets, will be given a replacement lien on the Debtor's
postpetition rents and other receivables for use of its cash
collateral.

Cameron-811 said it is in negotiations with Wachovia Bank, N.A.,
and Redus TX Properties regarding a cash collateral budget.  The
Debtor is confident that an agreement on a budget and the terms of
an agreed order for use of cash collateral will be reached with
Wachovia Bank and Redus.

Cameron-811 owes $15.5 million under its loans with Wachovia.

A full-text copy of the Debtor's motion and budget is available at
no charge at http://bankrupt.com/misc/Cameron811CCollateral.pdf

Houston, Texas-based Cameron-811 Rusk, L.P., filed for Chapter 11
bankruptcy protection on March 2, 2010 (Bankr. S.D. Texas Case No.
10-31856).  Adrian Stanley Baer, Esq., who has an office in
Cordray Tomlin PC, assists the Company in its restructuring
effort.  The Company estimated its assets and liabilities at
$10,000,001 to $50,000,000.


CANAL CAPITAL: Posts $75,000 Net Loss in Q1 Ended January 31
------------------------------------------------------------
Canal Capital Corporation filed its quarterly report on Form 10-Q,
showing a net loss of $75,262 on $76,230 of revenue for the three
months ended January 31, 2010, compared with a net loss of
$101,827 on $103,712 of revenue for the same period in the prior
fiscal year.

The Company's balance sheet as of January 31, 2010, showed
$2,969,686 in assets, $2,557,023 of debts, and $412,663 of
stockholders' equity.

The Company has suffered recurring losses from operations and is
obligated to continue making substantial annual contributions to
its defined benefit pension plan.  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?58ae

Based in Port Jefferson Station, New York, Canal Capital
Corporation is engaged in two distinct businesses -- real estate
and stockyard operations.  Canal's real estate properties are
located in Sioux City, Iowa, South St Paul, Minnesota, St Joseph,
Missouri, Omaha, Nebraska and Sioux Falls, South Dakota.  Canal
currently operates one central public stockyard located in St.
Joseph, Missouri.


CAROLE ANN MEIKLE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Carole Ann Meikle
        18522 Topanga Canyon Rd
        Silverado, CA 92676

Bankruptcy Case No.: 10-13106

Chapter 11 Petition Date: March 12, 2010

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

Judge: Theodor Albert

Debtor's Counsel: Stephen W. Johnson, Esq.
                  Law Office of Stephen W. Johnson
                  23046 Avenida de la Carlota 6th Fl
                  Laguna Hills, CA 92653
                  Tel: (949) 813-0636
                  Fax: (949) 768-5001

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 $1,122,987,
and total debts of $1,770,650.

A full-text copy of Ms. Meikles petition, including a list of her
20 largest unsecured creditors, is available for free at:

                  http://bankrupt.com/misc/cacb10-13106.pdf

The petition was signed by Ms. Meikle.


CATALYST PAPER: Proposes to Restart Elk Falls Paper Facility
------------------------------------------------------------
Catalyst Paper resubmitted a proposal to the union that could
allow for the restart of the Elk Falls paper mill at a labor cost,
all in, of approximately $40 per hour.  This reflects current
market realities and includes changes to wages and benefits
similar to those already implemented with management and staff
employees.  The Company also indicated that, to date, 63% of
eligible hourly workers at the Elk Falls operation have elected
the severance option arising from indefinite curtailment of the
mill since February 2009.

"With a competitive cost structure, there could be a future for
Elk Falls mill and to that end we presented employees with a
proposal that could lead to the restart of two specialty paper
machines at the mill," said Richard Garneau, president and chief
executive officer.  "Nonetheless, we also recognize that electing
to take severance is a personal choice.

"We hope the remaining employees want and will be given the chance
to return to work and to continue to live in the community.  We
appreciate the Campbell River Mayor has shown strong commitment to
preserving jobs through an agreement in principle that would
address Class 4 property tax sustainability.  And, while there are
no guarantees that we will be able to overcome fibre supply
shortages or acquire the customer orders necessary to restart, we
know the outcome for this mill and community if nothing is done,"
he added.

Hourly employees at Elk Falls are represented by Communications,
Energy and Paperworkers Union of Canada (CEP) locals 630 and 1123.
Approximately 225 hourly workers have taken this option with an
average severance payout of $57,000 per employee.

                      About Catalyst Paper

Headquartered in Richmond, British Columbia, Catalyst Paper
Corporation (TSX:CTL) manufactures diverse specialty printing
papers, newsprint and pulp.  Its customers include retailers,
publishers and commercial printers in North America, Latin
America, the Pacific Rim and Europe.  With six mills strategically
located in British Columbia and Arizona, Catalyst has a combined
annual production capacity of 2.5 million tones.

At September 30, 2009, the Company had C$2.20 billion in total
assets against C$1.29 billion in total liabilities.  At
September 30, 2009, the Company had liquidity of C$192.9 million,
comprised of C$90.6 million cash, and availability of
C$102.3 million on the Company's asset-based loan facility.

                          *     *     *

In March 2010, Standard & Poor's Rating Services said it kept its
ratings, including its 'CC' long-term corporate credit rating, on
Vancouver-based Catalyst Paper Corp. on CreditWatch with negative
implications, where they were placed Nov. 25, 2009.

Catalyst Paper continues to pursue an offer to exchange its senior
unsecured notes with an 8.625% coupon due 2011 for new senior
secured notes due December 2016.  Standard & Poor's will likely
lower the ratings on Catalyst Paper to 'SD' (selective default)
upon completion of the exchange offer.  "Standard & Poor's views
the offer as distressed because it represents a discount on the
face value of the existing senior unsecured debt," said Standard &
Poor's credit analyst Jatinder Mall.


CATALYST PAPER: Moody's Junks Corporate Family Rating From 'B3'
---------------------------------------------------------------
Moody's Investors Service downgraded Catalyst Paper Corporation's
Corporate Family Rating to Caa1 from B3 while revising the
Probability of Default Rating to Caa1/LD from Caa3, with the "/LD"
suffix signaling a "limited default".  Concurrently, Moody's also
downgraded Catalyst's Speculative Grade Liquidity rating to SGL-4
(indicating weak liquidity) from SGL-3 (indicating adequate
liquidity).  The outlook on all ratings is negative.  Associated
instrument ratings and Loss Given Default assessments impacted by
this rating action are listed below.

Catalyst's CFR downgrade anticipates a marked deterioration in the
company's financial performance over the coming year, with
significant EBITDA erosion compared to 2009 levels and negative
free cash flow generation.  The significant drop in demand
combined with the excess industry capacity across the paper grades
that Catalyst produces, will put pressure on the Company's credit
protection measures until visible signs of improvement in industry
fundamentals appear.  The revision of Catalyst's PDR follows the
recent completion of Catalyst's private exchange transaction,
under which the company exchanged US$318.7 million principal
amount of its outstanding 8 5/8% Senior Notes due 2011 for
US$280 million of its new 11% Senior Secured Notes due 2016.  As
part of the transaction, Catalyst also solicited and obtained
consents to amend the terms of the indenture governing the Old
Notes to eliminate certain restrictive covenants contained in the
indenture.  Moody's views the exchange of notes at below par and
the stripping of covenants on the Old Notes as a distressed
exchange tantamount to a limited default.  The "/LD" suffix will
remain for three days on the PDR, after which it will be
withdrawn.  Reflecting the additional amount of secured debt in
the post-exchanged capital structure, the company's senior
unsecured notes due 2014 were downgraded to Caa2 and are no longer
on review.  The ratings on the remaining Old Notes that were not
exchanged have also been revised to Caa2.

The SGL-4 liquidity rating indicates that Catalyst has weak
liquidity.  Over the forward 4-quarter SGL rating horizon, Moody's
expects Catalyst will be free cash flow negative and will fund its
cash burn (including capital expenditures) out of cash on hand
(C$83 million at December 31, 2009) and availability under its
C$330 million asset base loan facility maturing in August 2013
(availability at December 31, 2009 was approximately
C$75 million).  The company is in compliance with the applicable
financial covenants, however ongoing negative cash generation
funded by asset base loan may put pressure on the availability
covenant.  Most of Catalyst's assets are secured with the new
notes issued as part of the exchange offer and any asset sale
would provide limited liquidity should the need arise.

The negative rating outlook reflects the risk of continued
deterioration in the company's operating performance and credit
metrics as well as the potential for constrained liquidity.  The
newsprint and directory paper segment are in secular decline and
continue to be in the throes of uncertainty with two of its
biggest players operating in bankruptcy.  The lack of visibility
as to the timing of any improvements contributes to the negative
outlook.

Downgrades:

Issuer: Catalyst Paper Corporation

  -- Speculative Grade Liquidity Rating, Downgraded to SGL-4 from
     SGL-3

  -- Corporate Family Rating, Downgraded to Caa1 from B3

  -- Senior Unsecured Regular Bond/Debenture, Downgraded to Caa2,
     LGD5, 80% from Caa1, LGD4, 66%

Upgrades:

Issuer: Catalyst Paper Corporation

  -- Probability of Default Rating, Upgraded to Caa1/LD from Caa3

  -- Senior Unsecured Regular Bond/Debenture, Upgraded to Caa2
     LGD5, 80% from Caa3, LGD5, 75%

Moody's last rating action was on November 24, 2009, when
Catalyst's PDR was lowered to Caa3 from B3, following the
commencement of the company's private offer seeking to exchange a
portion of its debt.

Headquartered in Richmond, British Columbia, Catalyst is the
largest producer of mechanical coated and uncoated specialty
papers and newsprint and the only producer of lightweight coated
paper located on the west coast of North America and is also one
of the largest producers of lightweight uncoated groundwood
(directory) paper in the world.  The Company also produces market
pulp and operates the largest paper recycling operation in Western
Canada.


CATALYST PAPER: S&P Downgrades Corporate Credit Rating to 'SD'
--------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit rating on Vancouver-based Catalyst Paper Corp to
'SD' (selective default) from 'CC'.  Standard & Poor's also
lowered its debt rating on the company's US$354.2 million
unsecured debt (8.625% due 2011) to 'D' (default) from 'C'.

At the same time, S&P is removing the corporate credit rating and
the rating on Catalyst's US$354.2 million unsecured debt from
CreditWatch, where S&P had placed them with negative implications
Nov. 25, 2009.

The 'C' debt rating on the US$250 million senior unsecured debt is
unchanged, and S&P has revised the CreditWatch implications on
this debt to positive from negative.

The downgrade reflects the completion of an exchange offer,
whereby the 8.625% unsecured debt issue due 2011 was exchanged for
new 11% senior secured notes due December 2016.

"While the exchange of notes does not reduce the company's debt,
S&P believes it improves Catalyst's debt maturity profile with no
significant debt due until 2013," said Standard & Poor's credit
analyst Jatinder Mall.

Given the weak outlook for the company's specialty paper and
newsprint segments, S&P expects Catalyst to continue to face
challenging market conditions in 2010.  S&P will review the
ratings once S&P has reassessed Catalyst's business and financial
position.

Standard & Poor's will likely resolve the CreditWatch once S&P has
assessed Catalyst's business and financial position.


CATALYST PAPER: Posts C$4.4 Million Net Loss in 2009
----------------------------------------------------
In a press release Thursday, Catalyst Paper Corporation disclosed
its financial results for the fourth quarter and full-year ended
December 31, 2009.  The Company reported a net loss attributable
to the Company of C$4.4 million on C$1.202 billion of revenue in
2009, compared to a net loss attributable to the Company of
C$219.8 million on C$1.849 billion of revenue in 2008.

EBITDA in 2009 was C$103.5 million, down C$55.9 million compared
to 2008.

"We bore the full brunt of a global recession and structural
changes that are affecting demand for many of our products and the
impacts were unrelenting in 2009," said Richard Garneau, president
and chief executive officer.  "We overcame a very difficult year
by taking extraordinary cost reduction measures and by adopting a
leaner manufacturing operation better suited for a smaller paper
market.  We also took important steps to address liquidity and
debt-management."

For the fourth quarter, Catalyst recorded a net loss attributable
to the Company of C$35.8 million on C$294.3 million of revenue,
compared to net earnings attributable to the Company of
C$13.2 million on C$263.4 million of revenue in the third quarter
of 2009.

EBITDA in Q4 was C$13.4 million, a decrease of C$9.5 million
compared to Q3.

Free cash flow in Q4 was negative C$6.5 million compared to
positive cash flow of C$6.3 million in Q3, reflecting lower EBITDA
and higher capital spending in Q4 compared to Q3.

At December 31, 2009, the company had C$157.4 million of liquidity
available, up C$12.1 million from a year earlier.  This was
comprised of C$83.1 million in cash and C$74.3 million of
availability on its ABL Facility, after taking into account a
covenant that requires the company to maintain C$35.0 million in
availability under the ABL Facility.

The Company generated free cash flow in 2009 of C$29.3 million
compared to C$45.2 million in 2008.  The decrease was primarily
due to lower EBITDA in 2009, which more than offset lower capital
spending and interest paid in the year.  At December 31, 2009, the
Company was in compliance with the covenants under both its ABL
Facility and senior notes.

On March 10, 2010, US$318,676,000, or 89.96% of the outstanding
2011 8 5/8% senior notes were exchanged for new 11.0% 2016 senior
secured notes of US$280,434,000.  US$35,552,000 aggregate
principal amount of 2011 senior notes remain outstanding.

The Board of Directors also announced that chief executive
officer, Richard Garneau, has agreed to remain with the Company to
the end of May 2010 to assist in the transition to a new CEO.  Mr.
Garneau announced his resignation for personal reasons,
January 25, 2010, and an executive search was initiated at that
time.

The Company's balance sheet as of Dec. 31, 2009, showed
C$2.091 billion in assets, C$1.295 billion of debts, and
C$795.6 million of stockholders' equity.

A full-text copy of the press release is available for free at:

                  http://researcharchives.com/t/s?58c7

A full-text copy of the Company's consolidated financial
statements for the year ended December 31, 2009, is available for
free at http://researcharchives.com/t/s?58c8

                       About Catalyst Paper

Headquartered in Richmond, British Columbia, Catalyst Paper
Corporation (TSX: CTL) is a producer of specialty printing papers
and newsprint in North America.   The Company also produces market
pulp and owns western Canada's largest paper recycling facility.
The Company has a combined annual capacity of 2,507,000 tonnes of
product at five mills, including its paper recycling facility,
located within a 160-kilometre radius of its head office in
Richmond, British Columbia, Canada and one mill located in
Snowflake, Arizona.

                          *     *     *

In March 2010, Standard & Poor's Rating Services said it kept its
ratings, including its 'CC' long-term corporate credit rating, on
Vancouver-based Catalyst Paper Corp. on CreditWatch with negative
implications, where they were placed Nov. 25, 2009.

Catalyst Paper continues to pursue an offer to exchange its senior
unsecured notes with an 8.625% coupon due 2011 for new senior
secured notes due December 2016.  Standard & Poor's will likely
lower the ratings on Catalyst Paper to 'SD' (selective default)
upon completion of the exchange offer.  "Standard & Poor's views
the offer as distressed because it represents a discount on the
face value of the existing senior unsecured debt," said Standard &
Poor's credit analyst Jatinder Mall.


CCS MEDICAL: Court Confirms Reorganization Plan
-----------------------------------------------
CCS Medical, Inc., disclosed that the United States Bankruptcy
Court for the District of Delaware has confirmed the Company's
Plan of Reorganization.  The Plan as confirmed has the support of
a majority of the Company's First Lien and Second Lien Lenders.
The Company currently expects to emerge from Chapter 11 within the
next several weeks.

"The Court's confirmation of our Plan is a major milestone for CCS
Medical and we are very pleased with this important step forward
in our restructuring process," said John Miclot, Chief Executive
Officer of CCS Medical.  "The fundamentals of our business are
solid, and our success in significantly reducing our debt and
strengthening our balance sheet will allow us to invest in the
business to better serve our customers and their patients.  We are
proud of all that we have accomplished and we believe that the
Plan confirmed by the Court provides the foundation for CCS
Medical to emerge from Chapter 11 as a stronger, more competitive
company."

"CCS Medical continues to experience high demand for our products
and services, and we remain focused on meeting and exceeding the
needs of our customers.  We are grateful for the strong support of
our employees, customers and suppliers throughout this process and
we appreciate the critical role that each of these constituencies
has played in our successful restructuring," added Steve Saft,
Chief Administrative Officer and Chief Financial Officer.

Under the Plan, the Company will reduce its outstanding debt to
approximately $200 million from approximately $522 million. As
part of the Confirmation, the Company's First Lien Lenders will
exchange their claims for 100% of the new equity in the Company
and new debt.  The majority of the Company's trade vendors will
continue to be paid in full.

                         About CCS Medical

Founded in 1994, CCS Medical Inc. -- http://www.ccsmed.com/-- has
become a leading provider of medical supplies.  CCS Medical
assists patients that need diabetes test strips, insulin pumps,
urological supplies, ostomy supplies, advanced wound care
dressings and prescription drugs.  Clear Water, Florida-based CCS
Medical specializes in providing a convenient way for patients to
receive supplies for their chronic illnesses in a manner that
saves them time and money.

CCS Medical, along with its affiliates, filed for Chapter 11 on
July 8, 2009 (Bankr. D. Del. Case No. 09-12390).  At the time of
the filing, CCS Medical said that it had assets of $100 million to
$500 million against debts of $500 million to $1 billion.
Attorneys at Young Conaway Stargatt & Taylor, LLP, represent the
Debtors.  Willkie Farr & Gallagher LLP serves as co-counsel to the
Debtors.  Goldman, Sachs & Co., serves as investment banker and
Alvarez & Marsal Healthcare Industry Group, LLC, as restructuring
advisor.  Epiq Bankruptcy Solutions LLC is claims agent.


CELESTICA INC: Moody's Upgrades Corp. Family Rating to 'Ba2'
------------------------------------------------------------
Moody's Investors Service upgraded Celestica Inc.'s ratings
(corporate family and probability of default to Ba2 from Ba3) and
affirmed its speculative grade liquidity rating (SGL-1).  Moody's
has withdrawn the ratings on Celestica's 7.625% senior
subordinated notes due 2013 following their recent redemption,
funded from the company's cash balance.  Moody's will withdraw
shortly all ratings for Celestica given that this issuer has no
rated debt outstanding.

The upgrade reflects Celestica's meaningful debt reduction, a
function of its strong internal liquidity and solid free cash flow
(FCF) generation.  The Ba2 CFR is supported by Celestica's status
as a Tier 1 EMS provider, strong liquidity position as evidenced
by its $703 million in pro forma cash (following redemption of the
7.625% notes), solid FCF generation and good internal execution on
customer penetration, operating performance and cost savings
initiatives.  The rating is constrained by the company's smaller
size compared to larger EMS peers as well as the historical
volatility in operating performance and rising customer
concentration.

Moody's expect fairly material improvement in leverage and credit
metrics following the company's retirement of its remaining
tranche of debt, consisting of $223 million outstanding senior
subordinated notes due 2013.  Though the company has no debt on a
reported basis, on an adjusted basis (which incorporates Moody's
standard adjustments for operating leases and pensions),
Celestica's retains roughly $260 million of non-debt obligations.
Nonetheless, pro forma leverage on a Moody's adjusted basis (as of
December 31, 2009) as measured by debt/LTM EBITDA improves to
about 0.8x from 1.6x (which includes Celestica's November 2009
redemption of the $339 million outstanding senior subordinated
notes due 2011).  The upgrade reflects Moody's expectation that
leverage (including any debt-financed acquisitions) will be
sustained at or under 1.5x (Moody's adjusted) going forward.

These ratings were upgraded:

  -- Corporate Family Rating to Ba2 from Ba3
  -- Probability of Default Rating to Ba2 from Ba3

This rating was affirmed:

  -- Speculative Grade Liquidity Rating - SGL-1

The last rating action was on November 6, 2009, when Moody's
upgraded Celestica's CFR to Ba3 with a stable outlook.

Headquartered in Toronto, Canada, Celestica is a global provider
of electronics manufacturing services to original equipment
manufacturers in the information technology and communications
industry.  For the twelve months ended December 31, 2009 (LTM),
the Company generated revenues of $6.1 billion.


CERUS CORP: Files Form 10-K; Posts $24.1 Million Net Loss
---------------------------------------------------------
Cerus Corporation filed its annual report on Form 10-K, showing a
net loss of $24.1 million on $18.0 million of revenue for 2009,
compared with a net loss of $29.2 million on $16.5 million of
revenue for 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$34.5 million in assets, $13.0 million of debts, and $21.4 million
in stockholders' equity.

In its Form 10-K, the Company says its development and selling,
general, and administrative expenses have resulted in substantial
losses each year since the Company's inception with the exception
of the year ended December 31, 2005.  At December 31, 2009, the
Company had an accumulated deficit of roughly $410.0 million.  "We
expect our losses to continue at least until the INTERCEPT Blood
System achieves more significant market acceptance."

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

                 http://researcharchives.com/t/s?5885

Concord, Calif.-based Cerus Corporation is a biomedical products
company focused on commercializing the INTERCEPT Blood System to
enhance blood safety. T he INTERCEPT system is designed to
inactivate blood-borne pathogens in donated blood components
intended for transfusion.  The Company currently markets the
INTERCEPT system for both platelets and plasma in Europe, Russia,
the Middle East and selected countries in other regions around the
world.  The Company is also pursuing regulatory approval of the
platelet and plasma systems in the United States and other
countries.  The INTERCEPT red blood cell system is currently in
clinical development.


CHARTER COMMS: Bank Debt Trades at 4% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Charter
Communications, Inc., is a borrower traded in the secondary market
at 96.01 cents-on-the-dollar during the week ended Friday,
March 12, 2010, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 2.32 percentage points from the previous week, The
Journal relates.  The Company pays 262.5 basis points above LIBOR
to borrow under the facility.  The debt matures on March 6, 2014.
Moody's has withdrawn its rating, while Standard & Poor's has
assigned a BB+ rating, on the bank debt.  The debt is one of the
biggest gainers and losers among 193 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

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 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).  The Company listed $13.65 billion in assets
against debts of $24.5 billion as of the filing.  Attorneys at
Kirkland & Ellis LLP, in New York, served as bankruptcy counsel to
the Debtors.  In November 2009, Charter Communications completed
its financial restructuring, reducing debt by $8 billion.


CHEMTURA CORP: Wants to Conduct Rule 2004 Exam on HFM
-----------------------------------------------------
Pursuant to Rule 2004 of the Federal Rules of Bankruptcy
Procedure, Chemtura Corporation and its debtor-affiliates ask the
U.S. Bankruptcy Court for the Southern District of New York to
direct Humphrey Farrington & McClain P.C. to appear for oral
examination, provide testimony and produce documents regarding
prior settlements of claims alleging injury from exposure to
diacetyl brought by its clients.

Richard M. Cieri, Esq., at Kirkland & Ellis LLP, in New York,
contends that determining the aggregate value of diacetyl-related
liabilities is a key gating item to developing and confirming a
Chapter 11 plan of reorganization.

The Debtors aver that they are actively working with their
various constituencies toward developing a consensual Plan, but
need more information to assess the potential value of the
Diacetyl Claims.  The Debtors would also like to pursue a
consensual resolution of the Diacetyl Claims with Humphrey
Farrington and counsel for other diacetyl claimants, Mr. Cieri
notes.

However, Humphrey Farrington is under confidentiality obligations
to its clients, the settling defendants, and their insurance
companies.  Humphrey Farrington has brought numerous cases
against Chemtura Corp., Chemtura Canada, and other manufacturers,
distributors, or entities in the supply chain on behalf of
several hundred plaintiffs who have alleged injuries from
exposure to diacetyl.

Accordingly, the Debtors ask the Court to compel Humphrey
Farrington to produce settlement information under an "Attorneys'
Eyes Only" protective order to prevent its dissemination beyond
certain counsel.

Mr. Cieri relates that from 1982 to 2005, Chemtura Canada
Co./Cie, a wholly owned indirect subsidiary of Debtor Chemtura
Corporation, manufactured and sold diacetyl to certain customers
in the United States.  Between 1998 and 2005, Chemtura Corp.
acted as an intermediary, purchasing diacetyl from Chemtura
Canada and then selling the diacetyl to U.S. customers.
Currently pending nationwide are approximately 300 products
liability actions alleging that exposure to diacetyl caused
respiratory illness.  Thus, before the Petition Date, Chemtura
Corp. or Chemtura Canada had been named as defendants in 21
diacetyl-related lawsuits, 15 of which remain pending.  In
addition, the Debtors received approximately 375 non-duplicative
claims, alleging injury from exposure to diacetyl, which include
claims based on the prepetition lawsuits.

                          HFM Objects

Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, points out that the settlement information sought by
Chemtura is protected from disclosure because they are subject to
confidentiality provisions that are binding.

Mr. Inselbuch reminds Judge Gerber that "this is not the first
time the Court has addressed a demand by the Debtor for discovery
of confidential claims information."  He notes that in an
adversary proceeding in which Chemtura sought a preliminary
injunction to enjoin a certain third-party litigation, Chemtura
served a subpoena on HFM, seeking the same confidential
settlement, which the Court denied.

Mr. Inselbuch argues that the Debtors' current request is another
gambit to obtain confidential information regarding settlements
with other defendants.

For these reasons, HFM asks the Court to deny the Debtors'
request.

                    IFF, BBA, Et Al., Respond

Yann Geron, Esq., at Fox Rothschild LLP, in New York, contends
that the Debtors seek confidential information and documents that
directly impact the interests of International Flavors and
Fragrances and Bush Boake Allen, Inc.

Over the past six years, IFF and BBA have litigated well over 100
claims against Humphrey Farrington's clients related to exposure
to flavors manufactured by IFF and BBA and have resolved many of
the claims.  Therefore, the disclosure of the amounts paid to
Humphrey Farrington's clients directly impact IFF's and BBA's
interests, Mr. Geron explains.

Mr. Geron asserts that information regarding the Settlements is
confidential.

In separate filings, Polarome International, Inc., Berje
Incorporated, and Givaudan Flavors Corporation, who all
negotiated settlements related to diacetyl claims, also assert
that information regarding those Settlements is confidential.

For these reasons, IFF, BBA, and the other objectors ask the
Court to deny the Debtors' request.

                        Debtors Talk Back

Mr. Cieri asserts that the Debtors' request is part of their
efforts to reach a fair and supportable value for the Diacetyl
Claims.  He notes that valuing Diacetyl Claims presents unique
challenges because unlike more widespread and mature torts like
asbestos, there have been few verdicts involving diacetyl and
public information as to the settlement value commanded by
diacetyl claims is scarce.

Many of the parties who have actual knowledge of past settlements
not involving the Debtors, are parties-in-interest in the Chapter
11 cases, Mr. Cieri further notes.  Specifically, Humphrey,
Farrington represents approximately 344 of the 375 Diacetyl
Claimants in the Chapter 11 cases.

Mr. Cieri points out that Humphrey Farrington has directly
participated in settlements of numerous diacetyl claims involving
other defendants and thus, has substantial information regarding
the very settlement values that are necessary for the Debtors to
determine a fair value for the Diacetyl Claims in these Chapter
11 cases.  For these reasons, the Debtors submitted their
request, seeking information in Humphrey Farrington's possession
regarding diacetyl settlements.

                     About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.

Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D.N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC.

As of December 31, 2008, the Debtors had total assets of
$3.06 billion and total debts of $1.02 billion.

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


CHEMTURA CORP: Wins Approval to Idle El Dorado Assets
-----------------------------------------------------
Chemtura Corporation and its debtor affiliates obtained permission
from the Bankruptcy Court to:

  (a) consolidate and idle certain assets within their El
      Dorado, Arkansas facility; and

  (b) implement a voluntary severance plan in connection with
      the El Dorado assets consolidation and idling.

Richard M. Cieri, Esq., at Kirkland & Ellis LLP, in New York,
says that granting the Debtors' request is appropriate because it
will enable the Debtors to ensure the efficient and cost-
effective operation of Debtor Great Lakes Chemical Corporation's
brine and bromine production lines.

GLCC owns and operates three chemical manufacturing plants,
referred to as the South Plant, Central Plant and West Plant, in
El Dorado, Arkansas.  Historically, the El Dorado Facility has
been a manufacturing site for GLCC's bromine, brominated flame
retardants and brominated performance products.

The Debtors aver they are working together with their financial
advisors to analyze the manufacturing capabilities, productivity,
efficiency, maintenance requirements, labor costs and operating
costs of certain of their manufacturing facilities in relation to
their business goals and objectives.  Through the analysis, they
have taken steps to rationalize costs relating to production and
conform their manufacturing facilities to projected operating
needs.

The Debtors have concluded that they can obtain material cost
savings, flexibility of supply and other material benefits by
outsourcing certain brominated flame retardants, an alkyl bromide
and a water treatment product from third parties, rather than
producing the products themselves.  The Debtors specifically
determined that it will be beneficial to consolidate the Central
Plant and West Plant bromine and brine operations to the West
Plant, and idle the South Plant bromine and brine operations and
certain brominated derivative units to free up assets for new
innovative sustainable brominated flame retardants.

Mr. Cieri contends that by consolidating and idling certain
assets within the El Dorado Facility, the Debtors expect to
reduce capital intensity; improve profitability via the operation
of brine and bromine production; exit one low volume non-
sustainable product line; manage the phase-out of Decabrom
production; convert capacity to more profitable and sustainable
new products; and more efficiently manage byproduct streams.

The Debtors believe that the planned facility optimization will
cause no material increase in any environmental remedial
obligations at the Plants that comprise the El Dorado Facility.
The Debtors, however, anticipate the need for some permit
modifications for certain process, waste treatment units or
emission point sources, which they intend to apply for in due
course and in compliance with applicable State and Federal laws,
Mr. Cieri notes.

                   The Voluntary Severance Plan

The operation of the El Dorado Facility is conducted by
approximately 420 hourly and salaried employees.  Mr. Cieri notes
that the El Dorado Employees are experienced and talented.  Their
skills and expertise are important for the effective maintenance
and production of new products going forward at the El Dorado
Facility.

In recognition of the Employees' skills and as part of the
consolidation and idling of certain assets within the El Dorado
Facility, which reduces the immediate need for a small portion of
the current workforce, the Debtors intend to implement a
voluntary severance plan rather than first implementing an
involuntary reduction in force.

The Voluntary Severance Plan will be open to all non-exempt, full
time El Dorado Facility Employees and will be capped at 25
Employees.  Should more than 25 Employees seek to be included in
the Voluntary Severance Plan, the Debtors will evaluate each of
the applications in light of the Debtors' ongoing business needs
at the El Dorado Facility and if necessary, determine
participation in the Voluntary Severance Plan based on number of
years of service.

Participating Employees will be required to execute a valid
separation agreement and release of claims to take part in the
Voluntary Severance Plan.

The Voluntary Severance Plan will provide Participating Employees
whose employment is terminated the same amount of payout as
provided under the Debtors' ordinary course severance program,
but will provide greater healthcare continuation coverage.  In
particular, Participating Employees will be eligible to receive
Company-paid continuation of medical or dental coverage under the
Company's insurance plans, for up to 24 months following their
termination date.  The first 18 months of the healthcare
continuation coverage will be provided pursuant to and continued
eligibility will be determined in accordance with the
Consolidated Omnibus Budget Reconciliation Act.  If after that
time, the Participating Employee is not eligible for coverage
under another employer's group health plan or Medicare, the
Company will provide an additional six months of continuation
coverage.

The average severance payment per Participating Employee under
the Voluntary Severance Plan, if paid in full, would total
approximately $36,000 due to anticipated increased healthcare
coverage.  The total amount to be paid by the Debtors over and
above the standard program if 25 Participating Employees were to
participate in the Voluntary Severance Plan would be
approximately $424,000.  The Enhanced Severance Plan will not be
available to any Employee who is an "insider" within the meaning
of Section 101(31) of the Bankruptcy Code.

Mr. Cieri argues that the ability of the Debtors to offer the
Voluntary Severance Plan and honor the Participating Employees'
choice to voluntarily resign their employment is important in
maintaining morale and encouraging performance by those Employees
who remain with the Company at the El Dorado Facility.  In that
respect, the eligibility of an Employee to participate in the
Voluntary Severance Plan is narrowly tailored to the
circumstances of the asset consolidation and plant idling, and
participation in the Voluntary Severance Plan will only be
available to the Employees if certain criteria are met.

In addition, the Debtors believe that the ability to offer the
Voluntary Severance Plan will provide comfort to the Employees at
the El Dorado Facility and will prevent disruption in the
operation of the El Dorado Facility during the asset
consolidation and plant idling.

In a regulatory filing with the Securities and Exchange
Commission dated January 25, 2010, the Debtors disclosed that the
board of directors of Chemtura Corporation approved a
restructuring plan involving the consolidation and idling of
certain assets within the Flame Retardants business operations in
El Dorado, Arkansas.  The restructuring plan is subject to
Bankruptcy Court approval.  Completion of the El Dorado Facility
restructuring plan is expected to occur the fourth quarter of
2010 if Court approval is obtained.

As a result of the El Dorado restructuring plan, Chemtura expects
to record exit costs of approximately $40 million, primarily in
the first half of 2010, consisting of approximately $35 million
in accelerated depreciation of property, plant and equipment and
approximately $5 million in other facility-related shutdown
costs, which include accelerated recognition of asset retirement
obligations, decommissioning of wells and pipelines and
severance.  Chemtura expects cash costs, including capital costs,
to be approximately $20 million primarily in 2010.

                     About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.

Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D.N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC.

As of December 31, 2008, the Debtors had total assets of
$3.06 billion and total debts of $1.02 billion.

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


CHEMTURA CORP: Equity Committee Member Wants to Trade Shares
------------------------------------------------------------
Fiduciary Counselors Inc., the independent fiduciary for the
Chemtura Corporation Employee Savings Plan with respect to a
certain company stock fund, seeks the Court's approval of certain
information-blocking procedures and permission to trade shares of
Chemtura Corporation common stock in compliance with those
procedures.

Michael St. Patrick Baxter, Esq., at Covington & Burling LLP, in
Washington, D.C., notes that the Savings Plan holds approximately
7,000,000 shares of Chemtura common stock.

Since its appointment to the Official Committee of Equity
Holders, FCI has established certain information-blocking
procedures to isolate any trading activities on behalf of the
Savings Plan from FCI's activities, according to Mr. Baxter.  He
notes that the Procedures screen FCI's personnel from receiving
non-public information obtained by FCI's representative on the
Equity Committee and prevent representatives from receiving
information regarding the Savings Plan's trading of Chemtura
shares in advance of the trades.

Although members of the Equity Committee owe a fiduciary duty to
the shareholders of the Debtors' estates, Mr. Baxter asserts that
FCI, as independent fiduciary to the Plan, also has a fiduciary
duty to the Savings Plan participants -- which may require FCI,
during the pendency of the bankruptcy cases, to issue
instructions to the Plan's administrator to increase the level of
cash in the Company Stock Fund by selling some or all of the
Chemtura stock.

The Company Stock Fund is administered by Fidelity Management
Trust Company.  Prior to FCI's appointment to the Equity
Committee, FCI instructed Fidelity to maintain a cash balance
within the Company Stock Fund of 21%, subject to a minimum of
20.5%, Mr. Baxter discloses.

For this reason, Fidelity may be required to sell Chemtura stock
to maintain liquidity levels consistent with the Instruction.
Mr. Baxter contends that if FCI is prevented from instructing the
Savings Plan's administrator to sell Chemtura shares, based on
publicly available information, during the pendency of the
bankruptcy cases solely because of its appointment to the Equity
Committee, it may adversely affect the financial interests of
Plan participants.  Alternatively, he points out, if FCI is
compelled to resign from the Equity Committee because of its
inability to trade, based on publicly available information, for
the benefit of Plan Participants, FCI's ability to protect the
interests of Plan participants will be compromised.

Mr. Baxter argues that FCI should not be forced to choose between
serving on the Equity Committee and meeting its duty to Plan
participants by selling Chemtura shares if and when it believes
it is advisable to do so based on publicly available information.

Thus, to prevent FCI personnel from receiving any non-public
information concerning the Debtors through service on the Equity
Committee, FCI has established and will maintain certain
information-blocking procedures, pursuant to which FCI Personnel
who serve on the Equity Committee will:

  (a) sign a confidentiality agreement;

  (b) not directly or indirectly share any information that is
      non-public, confidential or proprietary in nature
      concerning the Debtors;

  (c) maintain all files containing Non-Public Information in
      secured cabinets or locations inaccessible to Non-FCI
      Committee Personnel;

  (d) not receive any information regarding the Savings Plan's
      trades in Chemtura stock in advance of the trade's
      execution, but may receive trading reports showing
      purchases and sales of Chemtura shares in the ordinary
      course; and

  (d) review on a monthly basis the Savings Plan's trades of
      Chemtura shares to determine if there is any reason to
      believe that the trades were not made in compliance with
      the Screening Wall and will keep records of the review.

In addition, so long as FCI is a member of the Equity Committee,
it will disclose to the Office of the U.S. Trustee any decrease
in the amount of Chemtura shares held by the Savings Plan which
results in the holdings being less than 50% of the amount of
Chemtura shares held by the Plan as of the date of FCI's
appointment to the Equity Committee within five days of the
decrease.

FCI will also submit quarterly certifications to the counsel of
the Equity Committee and the U.S. Trustee the continued
compliance with the Procedures and will immediately disclose any
material breaches.

If FCI resigns from the Equity Committee, it will continue to
follow the Procedures until a Chapter 11 plan has been confirmed
and becomes effective or the Chapter 11 cases have been converted
or dismissed.

                     About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.

Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D.N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC.

As of December 31, 2008, the Debtors had total assets of
$3.06 billion and total debts of $1.02 billion.

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


CHEMTURA CORP: Committee Objects to C.E.R.T. Claims
---------------------------------------------------
The Official Committee of Unsecured Creditors in Chemtura Corp.'s
cases asks the Court to disallow three claims, asserting
$3,000,000,000 each, filed by the Counsel for Education and
Research on Toxics against the Debtors for injuries attributable
to certain chemicals the Debtors previously produced as a flame
retardant.

The Claims are:

  (a) Claim No. 12051 filed against Debtor Great Lakes Chemical
      Corporation;

  (b) Claim No. 12053 filed against Debtor Chemtura Corporation;
      and

  (c) Claim No. 12055 filed against Debtor Great Lakes Chemical
      Global, Inc.

CERT is a California public benefit corporation established to
educate and conduct research regarding toxic substances.

According to Daniel H. Golden, Esq., at Akin Gump Strauss Hauer &
Feld LLP, in New York, the CERT Claims contain unsubstantiated
accusations that the chemicals caused, among other things,
thyroid effects and alterations in the levels of male hormones.
He points out that no entity or organization known to the
Committee has been able to demonstrate between the contamination
and toxic injuries cited in the CERT Claims.

Mr. Golden notes that the CERT Claims account for nearly 90% of
all unsecured claims.

Mr. Golden relates that the Debtors historically produced an
array of chemical products, including Penta brominated diphenyl
ether and Octa brominated diphenyl ether.  PBDEs are commercial
chemical products used to prevent fires in a wide variety of
products like electrical and electronic equipment, transportation
and aeronautic equipment and textiles.  The Debtors voluntarily
ceased production of pentaBDE and octaBDE in 2004.  The Debtors
also produce Deca brominated diphenyl ether, but they phased out
majority of the production.

PBDEs have been widely studied and subjected to significant
regulatory scrutiny.  Despite studies showing that certain PBDEs
are persistent in the environment and can bioaccumulate, there
has been no study conclusively demonstrating that PBDEs pose a
significant risk to humans, Mr. Golden contends.

                     About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.

Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D.N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC.

As of December 31, 2008, the Debtors had total assets of
$3.06 billion and total debts of $1.02 billion.

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


CINCINNATI BELL: To Offer $400-Mil. of Senior Subordinated Notes
----------------------------------------------------------------
Cincinnati Bell Inc. intends to publicly offer $400 million in
aggregate principal amount of senior subordinated notes due 2018.
The net proceeds of the offering will be used, together with cash
on hand, to redeem $375 million of the Company's outstanding 8
3/8% Senior Subordinated Notes due 2014 and to pay accrued
interest and call premium.

Banc of America Securities LLC will act as the Lead Bookrunning
Manager for the senior subordinated notes offering.  The offering
will be made only by means of a prospectus supplement and the
accompanying base prospectus.

Headquartered in Cincinnati, Ohio, Cincinnati Bell Inc. (NYSE:
CBB) -- http://www.cincinnatibell.com/-- is a full-service
regional provider of data and voice communications services over
wireline and wireless networks and a full-service provider of data
center operations, related managed services and equipment.

According to the Troubled Company Reporter on March 8, 2010,
Cincinnati Bell Inc. filed its annual report on Form 10-K, showing
net income of $89.8 million on $1.3 billion of revenue for 2009,
compared with net income of 102.6 million on $1.4 billion of
revenue for 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$2.064 billion in assets and $2.719 billion of debts, for a
stockholders' deficit of $654.6 million.


CIRCUIT CITY: Wins Release from V. McCulty Claims
-------------------------------------------------
Circuit City Stores Inc. and its units ask the Bankruptcy Court to
approve their settlement agreement with Capital Contractors, Inc.,
Industriaplex, Inc., and Vernon Daniel McCulty.

In June 2008, Mr. McCulty, a former employee of Premier Image
Enterprises, LLC, a cleaning company, initiated a complaint in
the Circuit Court of Wood County, West Virginia, against Circuit
City Stores, Inc., Capital, Premier Image, Ronald Swertfager, and
Lori Campbell, alleging (i) violations of the West Virginia
Payment and Collection Claim Act for failure to pay minimum wage
and overtime, and (ii) violations of the West Virginia Human
Rights Act for sexual harassment and hostile work environment.
Mr. McCulty seeks unspecified damages and attorneys' fees.

Mr. Swertfager and Ms. Campbell were employees of Circuit City at
the time the McCulty Complaint was filed.

In August 2008, Circuit City filed a Third-Party Complaint
against Industriaplex, alleging claims for indemnification and
contribution against Industriaplex, Capital, Premier Image, and
Mr. Swertfager.

Industriaplex filed its answer to the Third-Party Complaint on
October 9, 2008, and asserted cross-claims against the other
defendants in the McCulty Complaint.

According to Douglas M. Foley, Esq., at McGuireWoods LLP, in
Richmond, Virginia, the salient terms of the Settlement Agreement
include:

  (a) In January 2009, Mr. McCulty agreed to settle all of his
      claims against Capital, Circuit City and Industriaplex for
      $20,000.  Mr. McCulty releases Capital, Circuit City,
      Industriaplex, Mr. Swertfager and Ms. Campbell from any
      and all known and unknown claims.

  (b) Circuit City, Capital and Industriaplex also agree to
      release each other from any and all claims, whether known
      and unknown that they have or may have against each other.

The Debtors believe that the Settlement Agreement is fair,
reasonable, and is in their best interests, as well as that of
their estates and creditors.

The Debtors also ask the Bankruptcy Court for leave to file the
Settlement Agreement under seal.

                        About Circuit City

Headquartered in Richmond, Virginia, Circuit City Stores Inc.
(NYSE: CC) -- http://www.circuitcity.com/-- was a specialty
retailer of consumer electronics, home office products,
entertainment software and related services in the U.S. and
Canada.

Circuit City Stores together with 17 affiliates filed a voluntary
petition for reorganization relief under Chapter 11 of the
Bankruptcy Code on November 10 (Bankr. E.D. Va. Lead Case No. 08-
35653). InterTAN Canada, Ltd., which runs Circuit City's Canadian
operations, also sought protection under the Companies' Creditors
Arrangement Act in Canada.

Gregg M. Galardi, Esq., and Ian S. Fredericks, Esq., at Skadden,
Arps, Slate, Meagher & Flom, LLP, are the Debtors' general
restructuring counsel.  Dion W. Hayes, Esq., and Douglas M. Foley,
Esq., at McGuireWoods LLP, are the Debtors' local counsel.  The
Debtors also tapped Kirkland & Ellis LLP as special financing
counsel; Wilmer, Cutler, Pickering, Hale and Dorr, LLP, as special
securities counsel; and FTI Consulting, Inc., and Rotschild Inc.
as financial advisors.  The Debtors' Canadian general
restructuring counsel is Osler, Hoskin & Harcourt LLP.  Kurtzman
Carson Consultants LLC is the Debtors' claims and voting agent.
The Debtors disclosed total assets of $3,400,080,000 and debts of
$2,323,328,000 as of August 31, 2008.

Circuit City has opted to liquidate its 721 stores.  It has
obtained the Bankruptcy Court's approval to pursue going-out-of-
business sales, and sell its store leases.

In May 2009, Systemax Inc., a multi-channel retailer of computers,
electronics, and industrial products, acquired certain assets,
including the name Circuit City, from the Debtors through a Court-
approved auction.

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


CIRCUIT CITY: Proposes to Hire Alfred H. Siegel as CRO
------------------------------------------------------
Circuit City Stores Inc. and its units seek, pursuant to Sections
105(a) and 363 of the Bankruptcy Code, to employ Alfred H. Siegel,
a partner of Crowe Horwath LLP, a public accounting and consulting
firm, as their chief restructuring officer, and, to the extent Mr.
Siegel deems appropriate, additional Crowe professionals.

The Debtors are continuing to wind down their affairs and hope to
secure confirmation of their First Amended Joint Plan of
Reorganization in the near future.  The Debtors' chief executive
officer has resigned and Michelle Mosier, the Debtors' controller
and chief accounting officer, has advised the Debtors that she
will also leave the company by no later than the hearing on the
current motion.

Accordingly, the Debtors require a CRO to administer their
estates up to the effective date of the Plan, Ms. Mosier says.

Moreover, upon the Plan Effective Date, many of the Debtors'
current management professionals, including those with the
greatest knowledge and primary responsibility for management of
the Debtors' Chapter 11 cases, will no longer be involved in the
cases.  The Debtors will be dissolved and replaced by the
Liquidating Trust, as provided in the Plan, to be administered,
in consultation with the Liquidating Trust Oversight Committee,
by the Liquidating Trustee.  Pursuant to the Plan, Mr. Siegel is
the proposed Liquidating Trustee, Ms. Mosier relates.

Based on the progression of events, Ms. Mosier asserts that it is
important that Mr. Siegel be retained and employed as CRO so that
he can (i) administer the Debtors' estates now that the CEO has
resigned and Ms. Mosier, as Controller and Chief Accounting
Officer, has given notice of her plans to do so, and (ii)
familiarize himself with the Debtors' Chapter 11 cases.

As CRO, Mr. Siegel will begin the Debtors' transition to post-
confirmation liquidation, and will be able to take the steps
necessary and appropriate for the efficient administration of the
Liquidating Trust.

According to Ms. Mosier, pursuant to the engagement agreement,
Mr. Siegel will serve as CRO to the Debtors at the direction of,
and reporting to, the Board.  He will provide interim management
assistance, including overseeing:

  (a) the recovery and disposition of the Debtors' remaining
      assets;

  (b) the reconciliation of liabilities;

  (c) the administration of the Debtors' bankruptcy reporting
      requirements and compliance with obligations as debtor-in
      -possession under Sections 1107 and 1108 of the Bankruptcy
      Code;

  (d) all litigation, claims objection and adversary
      proceedings; and

  (e) the Debtors' efforts to obtain confirmation of the Plan.

Pursuant to the Engagement Agreement, Mr. Siegel may also engage
other Crowe professionals to assist him with operational,
financial, tax and accounting matters, as deemed necessary and
appropriate.  In his capacity as CRO, Mr. Siegel will not have
the authority to expand or limit the scope of the services
provided by any professional retained by the Debtors in the
Chapter 11 cases, although he may make recommendations to the
Board with respect to these matters, Ms. Mosier says.

Mr. Siegel and Crowe will be paid their customary hourly rates,
and will be reimbursed for necessary expenses incurred.  The
estimated hourly rates are:

   Mr. Siegel                                           $550
   Other partner/director                          $360-$580
   Manager and senior forensice/litigation expert  $225-$350
   Senior accountant                               $165-$220
   Staff accountant                                $130-$160
   Bookkeeper and paralegal                         $85-$130

Because Mr. Siegel and Crowe are not being employed as
professionals under Section 327 of the Bankruptcy Code, they will
not submit quarterly or final fee applications pursuant to
Sections 330 and 331 of the Bankruptcy Code.  However, Mr. Siegel
and Crowe will submit statements of services performed and
expenses incurred to the Debtors and other parties in interest on
a monthly basis in accordance with the Interim Compensation
Order.

According to the Debtors, the fact that Mr. Siegel serves as CRO
will not conflict or preclude him from serving as the Liquidating
Trustee under the Plan.

Mr. Siegel discloses in his affidavit that he and Crowe have in
the past been retained by, and presently and likely in the future
will provide services for, certain creditors of the Debtors,
other parties-in-interest, and their attorneys and other
professionals in matters unrelated to the parties' claims against
the Debtors or interests in the Chapter 11 cases.  He informs the
Court that he and Crowe currently perform or have previously
performed certain services for these entities:

    * Direct TV;
    * Samsung Electronics;
    * Acco Brands; and
    * Skadden, Arps, Slate, Meagher & Flom, LLP.

Mr. Siegel assures the Court that he nor Crowe has provided, and
will not provide, professional services to any of the creditors,
other parties-in-interest, or their attorneys with regard to any
matters related to the Debtors' Chapter 11 cases.

Mr. Siegel asserts that he and Crowe do not hold or represent an
interest adverse to the estate that would impair their ability to
objectively perform professional services for the Debtors, in
accordance with Section 327.  Mr. Siegel attests that he and
Crowe are disinterested persons, as that term is defined in
Section 101(14) of the Bankruptcy Code.

The Debtors also ask the Court to shorten the notice period and
limit the notice period of the request.

                        About Circuit City

Headquartered in Richmond, Virginia, Circuit City Stores Inc.
(NYSE: CC) -- http://www.circuitcity.com/-- was a specialty
retailer of consumer electronics, home office products,
entertainment software and related services in the U.S. and
Canada.

Circuit City Stores together with 17 affiliates filed a voluntary
petition for reorganization relief under Chapter 11 of the
Bankruptcy Code on November 10 (Bankr. E.D. Va. Lead Case No. 08-
35653). InterTAN Canada, Ltd., which runs Circuit City's Canadian
operations, also sought protection under the Companies' Creditors
Arrangement Act in Canada.

Gregg M. Galardi, Esq., and Ian S. Fredericks, Esq., at Skadden,
Arps, Slate, Meagher & Flom, LLP, are the Debtors' general
restructuring counsel.  Dion W. Hayes, Esq., and Douglas M. Foley,
Esq., at McGuireWoods LLP, are the Debtors' local counsel.  The
Debtors also tapped Kirkland & Ellis LLP as special financing
counsel; Wilmer, Cutler, Pickering, Hale and Dorr, LLP, as special
securities counsel; and FTI Consulting, Inc., and Rotschild Inc.
as financial advisors.  The Debtors' Canadian general
restructuring counsel is Osler, Hoskin & Harcourt LLP.  Kurtzman
Carson Consultants LLC is the Debtors' claims and voting agent.
The Debtors disclosed total assets of $3,400,080,000 and debts of
$2,323,328,000 as of August 31, 2008.

Circuit City has opted to liquidate its 721 stores.  It has
obtained the Bankruptcy Court's approval to pursue going-out-of-
business sales, and sell its store leases.

In May 2009, Systemax Inc., a multi-channel retailer of computers,
electronics, and industrial products, acquired certain assets,
including the name Circuit City, from the Debtors through a Court-
approved auction.

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


CLARIENT INC: Reports $2.6 Million Net Loss for December 2009
-------------------------------------------------------------
Clarient Inc. reported financial results for the fourth quarter
and year ended December 31, 2009.

The Company reported $2.6 million net loss for the three months
ended December 31, 2009, compared with a $2.2 million net loss for
the same period a year ago.  Fourth quarter 2009 net revenue was
$23.3 million, compared to $21.9 million for the same period in
2008.  Net revenue for the full year was $91.6 million, a 24%
increase over the $73.7 million earned in 2008 and in line with
Clarient's revised guidance issued in the third quarter of 2009.

The Company's balance sheet as of December 31, 2009, showed
$66.9 million in total assets and $10.5 million stockholders'
equity.

Ron Andrews, Clarient's Vice Chairman and Chief Executive Officer,
said, "We have begun 2010 with solid commercial and operating
momentum as we posted a strong fourth quarter in terms of customer
acquisition, test volume growth and important menu expansion
activities.  We now have mounting evidence that our revised
revenue and collections processes are giving us greater clarity on
the business and our payors, and we are confident we will continue
to build incrementally on the fourth quarter improvements in our
billing and collections metrics we are reporting today.  The
Applied Genomics, Inc. (AGI) acquisition has catalyzed our
development and commercial activities, and we are encouraged that
we have already completed the integration of their operations.  We
now have access to a robust pipeline of diagnostic and prognostic
tests obtained in the transaction, including Clarient InSight Dx
Pulmotype, which we believe will have an impact on revenues in
2010 and helps position Clarient to take a leadership role in lung
cancer diagnostics."

Operating expenses were $15.1 million for the fourth quarter of
2009, up from $13.3 million in the same quarter of 2008.
Operating expenses for the fourth quarter of 2009 included
severance expenses totaling $0.7 million and one-time expenses
related to the AGI acquisition of $0.3 million.  For the full year
2009, operating expenses totaled $55.6 million, versus
$42.3 million in the prior year.  The increase in operating
expenses for the year was largely related to additional sales and
marketing personnel costs as Clarient continued to build out its
sales and marketing infrastructure.  Clarient also incurred
increased bad debt expense, higher stock compensation expense, and
legal and accounting expenses related to corporate development
activities.

Michael Rodriguez, Clarient's Senior Vice President and Chief
Financial Officer, said, "In addition to the implementation of
tighter controls across the organization, billing and collections
metrics improved in the period, and systems began to take hold.
Days sales outstanding declined by 17 days from 103 at
September 30, 2009, to 86 days at December 31, 2009.  We enjoyed
record cash collections of $23.3 million during the quarter and
generated cash flows from operations of $3.4 million in the fourth
quarter.  Bad debt expense for the quarter declined 18 percent
from the prior quarter and decreased as a percentage of revenue by
nearly five percentage points for the quarter."

Clarient's operating loss for the fourth quarter of 2009 was
$2.3 million compared with operating income of $184,000 for the
same period of 2008.  For the full year 2009, operating loss was
$3.1 million versus an operating loss of $1.5 million for the
twelve months ended December 31, 2008.  Operating results for the
current quarter and the year were impacted by severance of
$0.7 million as well as one-time transaction-related expenses of
$0.8 million including $0.5 million from corporate development
opportunities in early 2009 that did not transpire.

Clarient's net loss for the quarter was $2.7 million, or $0.03 per
share.  For the full year 2009, the net loss was $6.1 million, or
$0.08 per share.  However, the net loss applicable to common
stockholders for the year was $10.3 million, or $0.13 per share.
Net loss applicable to common stockholders for the year included a
non-recurring $4.3 million non-cash deemed dividend arising from a
"beneficial conversion feature" relating to the May 2009 tranche
of the preferred stock private placement transaction with Oak
Investment Partners.  This "in-the-money non-detachable"
conversion feature of the issued 1.4 million shares of preferred
stock gave Oak Investment Partners the opportunity to convert
their preferred shares into common shares at an amount below the
market price at the time, triggering the non-cash expense.

At December 31, 2009, Clarient's cash and cash equivalents totaled
$10.9 million compared with $1.8 million at December 31, 2008.
Clarient generated $3.4 million in cash flow from operations in
the 2009 fourth quarter.

                          Company Outlook

Based on Clarient's current revenue run rate, anticipated new
product introductions and other market factors, Clarient expects
net revenue for the full year 2010 to range between $108 million
to $115 million.  This increase would represent a year-over-year
growth rate of between 18 percent and 25 percent from 2009 net
revenue.  The Company also indicated that it is expecting to
report net income for the 2010 fiscal year.

Mr. Andrews concluded, "Clarient's business model has been built
on balanced revenue streams across multiple cancer types and
technologies and is well-positioned in the new environment of
health care reform and cost containment.  The opportunities for
Clarient to use its established commercial engine to bring new
advanced tests to market are numerous and growing. Our processes
around billing and collections are now sound, giving us greater
predictability in our business.  With the AGI product pipeline
integrated, we will now explore opportunities to license these
products outside of the United States while we work diligently to
build new markets domestically.  We are excited now to be in a
position to assertively pursue some exciting new opportunities
while maintaining a focus on profitability and positive cash
flow."

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?58ba

Clarient, Inc., and its wholly owned subsidiaries comprise an
advanced oncology diagnostic services company, headquartered in
Aliso Viejo, California.


CLEAR CHANNEL: Bank Debt Trades at 20% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Clear Channel
Communications, Inc., is a borrower traded in the secondary market
at 80.21 cents-on-the-dollar during the week ended Friday,
March 12, 2010, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 1.53 percentage points from the previous week, The
Journal relates.  The Company pays 365 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Jan. 30,
2016, and carries Moody's Caa1 rating and Standard & Poor's CCC
rating.  The debt is one of the biggest gainers and losers among
193 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

Clear Channel Communications, Inc. -- http://www.clearchannel.com/
-- is a diversified media company with three primary business
segments: radio broadcasting, outdoor advertising and live
entertainment.  Clear Channel Communications is the operating
subsidiary of San Antonio, Texas-based CC Media Holdings, Inc.

Clear Channel reported a consolidated net loss of $4.2 billion for
nine months ended Sept. 30, 2009, compared with consolidated net
income of $1.0 billion in the same period of 2008.  At Sept. 30,
2009, the Company's consolidated balance sheets showed $17.7
billion in total assets and $24.7 billion in total liabilities,
resulting in a $7.0 billion total members' deficit.


CLST HOLDINGS: Posts $5.2 Million Net Loss in 2009 Fiscal Year
--------------------------------------------------------------
CLST Holdings, Inc., filed its annual report on Form 10-K, showing
a net loss of $5.2 million on $6.7 million of revenue for the year
ended November 30, 2009, compared with a net loss of $1.7 million
on $496,000 of revenue for the year ended November 30, 2008.

The Company's balance sheet as of November 30, 2009, showed
$52.4 million in assets, $49.3 million of debts, and $3.0 million
of stockholders' equity.

Whitley Penn LLP expressed substantial doubt about the Company's
ability to continue as a going concern.  The independent auditors
noted that the Company has incurred net losses in the past two
years, has a working capital deficit at November 30, 2009, is in
default related to its CLST Asset I debt obligation as of
November 30, 2009, and continues to incur significant general and
administrative expenses related to its ongoing litigation.

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

                  http://researcharchives.com/t/s?58d2

                Sale of Operations in Fiscal 2007

On December 18, 2006, the Company entered into a definitive
agreement to sell substantially all of its United States and
Miami-based Latin American operations to a wholly owned subsidiary
of Brightpoint, Inc.  On December 16, 2006, the Company entered
into a definitive agreement to sell its Mexico operations to two
affliliated companies.

The Mexico sale included the Company's interest in Communicacion
Inalambrica Inteligente, S.A. de C.V. ("CII"), the Company's joint
venture with one of the purchasers of the Company's Mexico
operations.  Under the terms of the transaction, the Company was
entitled to receive its pro rata share of CII profits for the
first quarter 2007 and up to the consummation of the transaction,
within 150 days from the closing date.  The Company had not
received any pro rata share of the CII profits and other terms
required as of 150 days from the closing date.  A demand for
payment of up to $1.7 million, the amount the Company believes is
its pro rata share of CII profits for such period, was sent to the
purchasers on September 11, 2007, as well as a demand that the
sellers comply with other required terms of the agreement.  While
the Company believes that CII was profitable and therefore the
purchasers owe the Company its pro rata share, the purchasers are
disputing this claim.  Therefore, the Company is pursuing claims
against the buyers from the Mexico Sale in an ICC arbitration
proceeding.  As of the date of this Form 10-K, the arbitration
panel has not issued their conclusion.

The Company filed a proxy statement with the Securities and
Exchange Commission on February 20, 2007, which more fully
describes the U.S. and Mexico Sale transactions.  The proxy
statement also included a plan of dissolution, which provides for
the complete liquidation and dissolution of the Company after the
completion of the U.S. Sale, and a proposal to change the name of
the Company from CellStar Corporation to CLST Holdings, Inc.

On March 28, 2007, the Company's stockholders approved the U.S.
sale, the Mexico sale, the plan of dissolution, and a name change
from CellStar Corporation to CLST Holdings, Inc.

The U.S. Sale closed on March 30, 2007.  The Mexico Sale closed on
April 12, 2007.  On March 22, 2007, the Company signed a letter of
intent to sell its operations in Chile to a group that included
local management for approximately book value.  On June 11, 2007,
Company completed the Chile Sale.  With the completion of the
Chile Sale, the Company no longer has operating locations outside
of the U.S.  Currently, only a small administrative staff remains
to wind up the business.

                        About the Company

Dallas, Tex.-based CLST Holdings, Inc.) was formed on April 1,
1993, as a Delaware corporation under the name of CellStar
Corporation to hold the stock of National Auto Center, Inc., a
company that is now an operating subsidiary.  The Company operated
in the wireless telecommunications industry through National Auto
Center, which was originally formed in 1981 to distribute and
install automotive aftermarket products and later, in 1984, began
offering wireless communications products and services.  In 1989,
National Auto Center became an authorized distributor of Motorola
wireless handsets in certain portions of the United States.
National Auto Center entered into similar arrangements with
Motorola in the Latin American Region in 1991.


CLST HOLDINGS: Appeals Court Voids Stockholders' Meet Order
-----------------------------------------------------------
On March 9, 2010, CLST Holdings, Inc., disclosed that on March 3,
2010, the Fifth District Court of Appeals at Dallas, Texas issued
a memorandum opinion in which the Court declared void the
February 15, 2010 order entered by the 134th Judicial District
Court of Dallas County, Texas in Red Oak Partners, LLC, et al. v.
Kaiser, et al., Cause No. 09-02404, which had ordered the Company
to hold an annual stockholders' meeting on March 23, 2010, and set
the record date as Monday, March 8, 2010.  Accordingly, there is
currently no scheduled annual stockholders' meeting.

As CLST Holdings, Inc., had previously disclosed in its Form 8-K
filed on February 23, 2010, pursuant to its Order and
Interlocutory Partial Summary Judgment dated February 15, 2010,
the Dallas County Trial Court ordered as follows: (1) Absent a
determination by the Court of good cause shown, the Company shall
hold an annual stockholders' meeting on March 23, 2010; (2) the
Annual Meeting will satisfy the requirement of the Company to hold
the 2008 and 2009 annual stockholders' meeting; (3) the record
date for the Annual Meeting shall be Monday, March 8, 2010; (4)
the Company shall provide notice in conformance with applicable
Delaware law to all CLST stockholders on or before March 12, 2010,
for the Annual Meeting; and (5) the Court appoints IVS Associates,
Inc. to be the independent inspector of elections to oversee the
voting process at the Annual Meeting, tabulate the proxies, and
certify the results.

After the Annual Meeting Order issued, the Company filed an
emergency motion for temporary relief requesting that the Fifth
District Court of Appeals of Texas at Dallas void the Annual
Meeting Order.

A copy of the memorandum opinion is available for free at:

                  http://researcharchives.com/t/s?58d3

                        About the Company

Dallas, Tex.-based CLST Holdings, Inc.) was formed on April 1,
1993, as a Delaware corporation under the name of CellStar
Corporation to hold the stock of National Auto Center, Inc., a
company that is now an operating subsidiary.  The Company operated
in the wireless telecommunications industry through National Auto
Center, which was originally formed in 1981 to distribute and
install automotive aftermarket products and later, in 1984, began
offering wireless communications products and services.  In 1989,
National Auto Center became an authorized distributor of Motorola
wireless handsets in certain portions of the United States.
National Auto Center entered into similar arrangements with
Motorola in the Latin American Region in 1991.

On March 28, 2007, the Company's stockholders approved the sale of
the Company's U.S. operations, its Mexico operations, the
Company's plan of dissolution, and a name change from CellStar
Corporation to CLST Holdings, Inc.

The U.S. sale closed on March 30, 2007.  The Mexico sale closed on
April 12, 2007.  On March 22, 2007, the Company signed a letter of
intent to sell its operations in Chile to a group that included
local management for approximately book value.  On June 11, 2007,
the Company completed the Chile Sale.  With the completion of the
Chile Sale, the Company no longer has operating locations outside
of the U.S.  Currently, only a small administrative staff remains
to wind up the business.

The Company's balance sheet as of November 30, 2009, showed
$52.4 million in assets, $49.3 million of debts, and $3.0 million
of stockholders' equity.

                       Going Concern Doubt

Whitley Penn LLP 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
November 30, 2009.  The independent auditors noted that the
Company has incurred net losses in the past two years, has a
working capital deficit at November 30, 2009, is in default
related to its CLST Asset I debt obligation as of November 30,
2009, and continues to incur significant general and
administrative expenses related to its ongoing litigation.


COMMUNITY HEALTH: Bank Debt Trades at 5% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Community Health
Systems is a borrower traded in the secondary market at 95.06
cents-on-the-dollar during the week ended Friday, March 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.29
percentage points from the previous week, The Journal relates.
The Company pays 225 basis points above LIBOR to borrow under the
facility.  The bank loan matures on May 1, 2014, and carries
Moody's Ba3 rating and Standard & Poor's BB rating.  The debt is
one of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Based in Franklin, Tennessee, Community Health Systems, Inc. --
http://www.chs.net/-- is the largest publicly traded operator of
hospitals in the United States in terms of number of facilities
and net operating revenues.  The company provides healthcare
services through these hospitals that it owns and operates in non-
urban and selected urban markets throughout the United States.
The company also owns and operates home health agencies, including
four home health agencies located in markets where it does not
operate a hospital.  Through its wholly owned subsidiary, Quorum
Health Resources, LLC, the company provides management and
consulting services to non-affiliated general acute care hospitals
located throughout the United States.


CONNECTTO COMMS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: ConnectTo Communications, Inc.
          dba ConnectTo Communications
        555 Riverdale Dr., Suite A
        Glendale, CA 91204

Bankruptcy Case No.: 10-19227

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Vincent P. Zurzolo

Debtor's Counsel: Scott C. Clarkson, Esq.
                  3424 Carson St., Ste. 350
                  Torrance, CA 90503
                  Tel: (310) 542-0111
                  Fax: (310) 214-7254
                  Email: sclarkson@lawcgm.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/cacb10-19227.pdf

The petition was signed by Araksiya Nadjarian, CEO of the Company.


CONTEMPORARY CABINETS: Case Summary & 20 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Contemporary Cabinets, LLC
          dba Contemporary Cabinetry and Closet Concepts
        1312 North Lime Ave.
        Sarasota, FL 34237

Bankruptcy Case No.: 10-05290

Chapter 11 Petition Date: March 10, 2010

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

Debtor's Counsel: Buddy D. Ford, Esq.
                  115 N. MacDill Avenue
                  Tampa, FL 33609-1521
                  Tel: (813) 877-4669
                  Fax: (813) 877-5543
                  Email: Buddy@tampaesq.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 $3,429,000,
and total debts of $4,506,903.

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/flmb10-05290.pdf

The petition was signed by Larry Hollander, managing member of the
Company.


COOPER-STANDARD: Claims Transfers for February
----------------------------------------------
The Office of the Clerk of the Bankruptcy Court received from
these entities notices of transfer of claims in the Debtors'
Chapter 11 cases from February 5 to 28, 2010:

* ASM Capital LP

Transferors                          Claim No.   Claim Amount
-----------                          ---------   ------------
All Pro Technical Service Inc.             359         $2,373
Bill Morgans Building                      953        $49,543
Detroit Heading LLC                        509         $5,211
Moules Industriels                          --        $31,648

* ASM Capital III LP

Transferors                          Claim No.   Claim Amount
-----------                          ---------   ------------
Calumet Lubricants Co.                     298        $44,437
Kalcor Coatings Co.                         --         $5,217

* Claims Recovery Group LLC

Transferors                          Claim No.   Claim Amount
-----------                          ---------   ------------
Industrial Paint & Strip West             1362        $14,635
Municipal Utilities Bowling Green          413       $160,671
The Zachery Company Llc                    220         $2,400
Tri Lakes Container                        577         $6,464
Air Power Inc.                              --         $9,645
B & T Welding And Machine Co.               --         $3,650
Frazier Machine & Prod. Inc.                --         $3,106
Sk Machinery Inc.                           --         $9,750

* Corre Opportunities Fund, L.P.

Transferors                          Claim No.   Claim Amount
-----------                          ---------   ------------
A&D Environmental Services Inc.            186         $5,780
BA Forwarding Co. Inc.                     580        $15,417
City of Auburn                             594       $153,529
CMM Technology Inc.                        319         $1,190
Hurst Manufacturing                         67         $3,270
Indiana Tube                              1043        $51,015
SSI                                       1513         $4,128
Test Equity LLC                             94        $27,411
Uline Inc.                                 458           $881
Cintas Corporation                          --        $11,085
Corporate Graphic Solutions                 --         $1,022
Eastern AC Services                         --        $20,150
Electric Supply & Equipment Co.             --        $13,852
Franklynn Industries                        --
$1,870
Revstone Industries Burlington              --        $11,762
Roy Metal Finishing Co. Inc.                --         $4,001

* Creditor Liquidity L.P.

Transferors                          Claim No.   Claim Amount
-----------                          ---------   ------------
Kando of Cincinnati                        248         $4,453
ABCO Fire Protection Inc.                   --        $11,270
Action Calibration Services                 --         $2,891
Rho Can Machine & Tool Co. Ltd.             --         $5,086

* Fair Harbor Capital LLC

Transferors                          Claim No.   Claim Amount
-----------                          ---------   ------------
2AM Group                                   --         $2,532
Gefran Inc.                                 --         $1,386
Summit Industrial Knife                     --         $1,112

* Jefferies Leveraged Credit Products LLC

Transferors                          Claim No.   Claim Amount
-----------                          ---------   ------------
BKB MFG Inc.                              1452        $55,192
Ferro Corporation                          214        $27,862
Manchester Tool & Die                       --        $22,800

* Liquidity Solutions Inc.

Transferors                          Claim No.   Claim Amount
-----------                          ---------   ------------
Columbian Chemicals Co.                   1542        $80,315
Hinkle Manufacturing                       571         $2,913
Mahle Tennex North America Inc.            110         $4,320
Process Development Corporation           1118        $23,266
Datamatics Management Services              --         $1,053
Linder Oil Company                          --         $4,415
Life Plan Park Center                       --         $2,520

* Sierra Liquidity Fund LLC

Transferors                          Claim No.   Claim Amount
-----------                          ---------   ------------
Neill-Lavielle Supply Company               --         $1,722
                                            --         $1,027
Whelco Industrial LTD                       --         $1,400
                                            --         $1,660

* TR Capital LLC

Transferors                          Claim No.   Claim Amount
-----------                          ---------   ------------
Mount Sterling Water & Sewer                --        $12,262
Interstate Gas Supply Inc.                 722        $63,922
                                            --        $63,922

                       About Cooper-Standard

Cooper-Standard Automotive Inc. -- http://www.cooperstandard.com/
-- headquartered in Novi, Michigan, is a leading global automotive
supplier specializing in the manufacture and marketing of systems
and components for the automotive industry.  Products include body
sealing systems, fluid handling systems and NVH control systems.
The Company is one of the leading suppliers of chassis products in
North America, with about 14% of market share.  The Company's main
custoemrs include Ford Motor Company, General Motors, Chrysler,
Audi, Volkswagen, BMW, Fiat and Honda, among other automakers.
Cooper-Standard Automotive employs approximately 16,000 people
globally with more than 70 facilities throughout the world.

Cooper-Standard is a privately held portfolio company of The
Cypress Group and Goldman Sachs Capital Partners Funds.

Cooper-Standard Holdings Inc., together with affiliates, filed for
Chapter 11 on August 4, 2009 (Bankr. D. Del. Case No. 09-12743).
Attorneys at Fried, Frank, Harris, Shriver & Jacobson LLP and
Richards, Layton & Finger, P.A., will serve as bankruptcy counsel
to the Debtors.  Lazard Freres & Co. is serving as investment
banker while Alvarez & Marsal is financial advisor.  Kurtzman
Carson Consultants LLC is notice, claims and solicitation agent.
In its bankruptcy petition, the Company said that assets on a
consolidated basis total $1,733,017,000 while debts total
$1,785,039,000 as of March 31, 2009.

The Company's Canadian subsidiary, Cooper-Standard Automotive
Canada Limited, also sought relief under the Companies' Creditors
Arrangement Act in the Ontario Superior Court of Justice in
Toronto, Ontario, Canada.

Bankruptcy Creditors' Service, Inc., publishes Cooper-Standard
Bankruptcy News.  The newsletter tracks the Chapter 11 and CCAA
proceedings undertaken by Cooper-Standard Holdings Inc. and its
various affiliates.  (http://bankrupt.com/newsstand/or 215/945-


COOPER-STANDARD: To Close Auto Fluid Plant in Spain
---------------------------------------------------
Cooper-Standard Holdings Inc., a leading global automotive
supplier, announced that the subsidiary company Coper-Standard
Automotive Espana SL will initiate legal proceedings to close its
automotive Fluid plant located at Pol­gono Industrial San Marcos
in Getafe, Madrid, Spain.  The closure is slated to be complete by
August -- September 2010.

This is the result of an in-depth analysis of the facility's
situation and current market conditions.  The closure is due, in
part, to the continued deterioration of the automotive industry.
As a result, the Getafe plant does not have the necessary minimum
production volumes necessary to continue operations.

"This announcement comes as part of Cooper-Standard's ongoing
effort to better align our manufacturing operations with current
industry demand," said Keith D. Stephenson, President
International Division, Cooper-Standard Automotive.  "While other
possibilities were studied, the current economic climate,
unfavorable fixed cost structure and expiration of two customer
contracts this year at the Getafe facility hinder the on-going
viability of the facility's business."

The Getafe operation employs approximately 75 employees and
manufactures fuel and brake products, such as brake boosters,
vapor and clutch lines, and water valves.  Cooper-Standard is
working with the appropriate government agencies to assist the
effected workers throughout the transition.

                       About Cooper-Standard

Cooper-Standard Automotive Inc. -- http://www.cooperstandard.com/
-- headquartered in Novi, Michigan, is a leading global automotive
supplier specializing in the manufacture and marketing of systems
and components for the automotive industry.  Products include body
sealing systems, fluid handling systems and NVH control systems.
The Company is one of the leading suppliers of chassis products in
North America, with about 14% of market share.  The Company's main
custoemrs include Ford Motor Company, General Motors, Chrysler,
Audi, Volkswagen, BMW, Fiat and Honda, among other automakers.
Cooper-Standard Automotive employs approximately 16,000 people
globally with more than 70 facilities throughout the world.

Cooper-Standard is a privately held portfolio company of The
Cypress Group and Goldman Sachs Capital Partners Funds.

Cooper-Standard Holdings Inc., together with affiliates, filed for
Chapter 11 on August 4, 2009 (Bankr. D. Del. Case No. 09-12743).
Attorneys at Fried, Frank, Harris, Shriver & Jacobson LLP and
Richards, Layton & Finger, P.A., will serve as bankruptcy counsel
to the Debtors.  Lazard Freres & Co. is serving as investment
banker while Alvarez & Marsal is financial advisor.  Kurtzman
Carson Consultants LLC is notice, claims and solicitation agent.
In its bankruptcy petition, the Company said that assets on a
consolidated basis total $1,733,017,000 while debts total
$1,785,039,000 as of March 31, 2009.

The Company's Canadian subsidiary, Cooper-Standard Automotive
Canada Limited, also sought relief under the Companies' Creditors
Arrangement Act in the Ontario Superior Court of Justice in
Toronto, Ontario, Canada.

Bankruptcy Creditors' Service, Inc., publishes Cooper-Standard
Bankruptcy News.  The newsletter tracks the Chapter 11 and CCAA
proceedings undertaken by Cooper-Standard Holdings Inc. and its
various affiliates.  (http://bankrupt.com/newsstand/or 215/945-


COUNTERPATH CORP: Posts $1.8 Million Net Loss in Q3 Ended Jan 31
----------------------------------------------------------------
CounterPath Corporation filed its quarterly report on Form 10-Q,
showing a net loss of $1.8 million on $1.4 million of revenue for
the three months ended January 31, 2010, compared with a net loss
of $2.2 million on $2.0 million of revenue for the same in 2009.

The Company's balance sheet as of January 31, 2010, showed
$16.0 million in assets, $3.9 million of debts, and $12.1 million
of stockholders' equity.

The continuation of the Company as a going concern is dependent
upon the continued financial support from its stockholders, the
ability of the Company to obtain necessary equity financing to
continue operations and to generate sustainable significant
revenue.  There is no guarantee that the Company will be able to
raise any equity financing or generate profitable operations.  As
at January 31, 2010, the Company has not yet achieved profitable
operations and had an accumulated deficit of $39,095,668 since
incorporation.  "These factors raise substantial doubt regarding
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?58c9

                        About the Company

Based in Vancouver, British Columbia, Canada, CounterPath
Corporation (OTC BB: CPAH; TSX-V: CCV) focuses on the design,
development, marketing and sales of desktop and mobile
communications application software, gateway (server) software and
related professional services, such as pre and post sales
technical support and customization services.  The Company's
products are sold into the Voice over Internet Protocol (VoIP)
market primarily to carriers, original equipment manufacturers and
businesses in North America, Central and South America, Europe and
Asia.


CROSS CANYON: Court Approves Prepackaged Plan
---------------------------------------------
ABI reports that Cross Canyon Energy Corp. has received court
approval of its prepackaged plan of reorganization, getting it one
step closer to exiting from Chapter 11.

Under the Plan, holders of administrative claims are paid in full.
CIT Capital, the first lien lender, will receive new secured loan
for $10 million and shares of new preferred stock.  CIT Capital,
as second lien lender, will receive new senior preferred stock 95%
of the new common stock.  Holders of existing class c preferred
stock interests will receive the new junior preferred stock.
Holders of existing common stock will receive their pro rata share
of 5% of the new common stock.

Spring, Texas-based Cross Canyon Energy Corp., fdba ABC Funding,
Inc., filed for Chapter 11 bankruptcy protection on January 29,
2010 (Bankr. S.D. Texas Case No. 10-30747).  Rhett G. Campbell,
Esq., at Thompson & Knight, 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.


DANIEL CRAIG SMITH: Case Summary & 8 Largest Unsecured Creditors
----------------------------------------------------------------
Joint Debtors: Daniel Craig Smith
               Maureen Monroe-Smith
               PO Box 552
               Malibu, CA 90265

Bankruptcy Case No.: 10-12761

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Maureen Tighe

Debtors' Counsel: Illyssa Fogel, Esq.
                  PO Box 437
                  McDermitt, NV 89421
                  Tel: (775) 532-8088
                  Email: ifogel@iiflaw.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 Debtors' petition, including a list of
their 8 largest unsecured creditors, is available for free at:

                 http://bankrupt.com/misc/cacb10-12761.pdf

The petition was signed by the Joint Debtors.


DANNY SMITH HOLDING: Case Summary & Unsecured Creditor
------------------------------------------------------
Debtor: Danny Smith Holding Company, LLC
        9600 Pridesville Road
        Amelia Court House, VA 23002

Bankruptcy Case No.: 10-31708

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Eastern District of Virginia (Richmond)

Judge: Chief Judge Douglas O. Tice Jr.

Debtor's Counsel: Bruce E. Arkema, Esq.
                  DurretteBradshaw, PLC
                  1111 East Main Street, 16th Floor
                  Richmond, VA 23219
                  Tel: (804) 343-4370
                  Fax: (804) 225-8706
                  Email: barkema@durrettebradshaw.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 $6,000,000
and total debts of $1,581,790.

The Debtor identified Harris, Hardy & Johnstone, PC with
accountant fees debt claim for $11,790 as its largest unsecured
creditor.  A full-text copy of the Debtor's petition, including a
list of its largest unsecured creditor, is available for free at:

                 http://bankrupt.com/misc/vaeb10-31708.pdf

The petition was signed by Daniel C. Smith Sr., owner of the
Company.


DAZ VINEYARDS: Gets Court Nod to Access Lenders' Cash Collateral
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
authorized DAZ Vineyards, LLC, to use the cash collateral of
Silicon Valley Bank, Premiere Pacific Viveyards and Sierra Madre
Ranch Holdings, LLC.

The Debtor would use the money to fund its Chapter 11 case, pay
suppliers and other parties.

The Debtor's indebtedness to Silicon Valley Bank is $326,000.  The
Debtor's debt debt to SVB is secured by virtually all of the
Debtor's personal property and the proceeds thereof.   In
addition, the debt is protected by the equity cushion.  The value
of the Debtor's inventory plus receivables exceeds $5 million.

The Debtor will provide Silicon Valley Bank, Premiere Pacific
Viveyards and Sierra Madre Ranch replacement liens in the
postpetition operation of the Debtor's business.  The Debtor
assures that the receivables created by postpetition operations
will exceed the use of the cash collateral.

Los Olivos, California-based DAZ Vineyards, LLC, dba Demetria
Estate Winery, filed for Chapter 11 bankruptcy protection on
February 15, 2010 (Bankr. C.D. Calif. Case No. 10-10689).  William
C. Beall, Esq., at Beall and Burkhardt, assists the Company in its
restructuring effort.


DELTA PETROLEUM: Posts $328.8 Million Net Loss in 2009
------------------------------------------------------
On March 11, 2010, Delta Petroleum Corporation issued a press
release reporting its financial and operating results for the
fourth quarter and year ended December 31, 2009.

For the year-ended December 31, 2009, total revenue decreased 33%
to $182.4 million, versus revenue of $271.2 million in 2008.  Oil
and gas sales from continuing operations decreased 57% to
$95.0 million, compared with $221.7 million in the comparable
period a year earlier.  The decrease resulted from a 54% decrease
in the average gas price and a 43% decrease in the average oil
price, in addition to an 11% decrease in total production.
Drilling and trucking revenue decreased 72% to $13.7 million, from
$49.4 million in the prior-year period, due to the decrease in the
number of rigs operating during the year.

For the year-ended December 31, 2009, the Company reported a net
loss of $328.8 million, or ($1.56) per diluted share, compared
with a net loss of $456.1 million, or ($4.77) per diluted share,
for the year-ended December 31, 2008.

                      Fourth Quarter Results

For the quarter ended December 31, 2009, total revenue increased
44% to $76.9 million, versus revenue of $53.5 million in the
quarter ended December 31, 2008, primarily due to the gain on
offshore litigation settlement.  Revenue from oil and gas sales
declined 13% to $29.9 million, compared with $34.5 million in the
prior year quarter.  The decrease was due to a 27% decrease in
production partially offset by a 10% increase in the average gas
price and a 38% increase in the average oil price.  Revenue from
contract drilling and trucking fees decreased 78% to $4.3 million
in the current quarter, versus $19.1 million in the fourth quarter
of 2008.

The Company reported a fourth quarter net loss attributable to
Delta common stockholders of $34.1 million, or ($0.12) per diluted
share, compared with net loss attributable to Delta common
stockholders of $460.7 million, or ($4.55) per diluted share, in
the fourth quarter of 2008.  The decreased loss was primarily due
to fewer dry holes and impairments recorded in 2009 as compared to
2008, and offshore litigation gains offset by lower oil and gas
sales in 2009.

                      Management's Comments

John Wallace, Delta's President and COO stated, "We are pleased to
report our financial results for the full year 2009 and for the
fourth quarter of 2009.  Clearly, 2009 proved to be a very
challenging year for Delta beginning with the drop in natural gas
prices during the first half of the year, and further compounded
by liquidity and bank covenant concerns for much of the year.
Yet, I am very pleased with how far we have come and, from an
operational and liquidity perspective, how much we improved during
the latter half of the year.  Cash flow provided by operating
activities totaled $61.0 million for the fourth quarter, which is
up meaningfully over the third quarter.  The fourth quarter of
2009 was the third consecutive quarter of substantial growth in
EBITDAX (a non-GAAP measure), up 134% from third quarter levels.
We have also been able to reduce our lease operating expenses to
$1.26 per Mcfe for the fourth quarter, down 14% from the third
quarter 2009.  More importantly, the EBITDAX for the fourth
quarter is sufficient to be in compliance with the leverage ratio
covenant of our senior credit facility.  While we obtained waivers
for the first quarter of 2010, under the current commodity price
forward curve, our current financial projections suggest that we
will be in compliance with our financial covenants for the
remainder of 2010.

"Our liquidity situation has also improved materially, aided in no
small part by the offshore litigation settlement proceeds received
from the federal government at the end of the year, which netted
approximately $48.7 million to Delta.  While the proceeds are
shown as cash on the December 31, 2009 balance sheet, subsequent
to year-end, the proceeds of the settlement were used to reduce
borrowings under our senior credit facility.  With borrowing base
availability and cash on hand, our liquidity position at
December 31, 2009, was $102 million and is approximately
$84 million as of today.  Once the semi-annual borrowing base
redetermination and the strategic alternatives process are
completed we will announce our plans to recommence our drilling
program in the Vega Area.

"Regarding our proved reserves for year-end 2009, the base price
used for the calculation was $3.03 per MMBtu for natural gas (the
average of the first day of the month prices in 2009 for Colorado
Interstate Gas), which resulted in proved reserves of 154 Bcfe.
If we calculated our proved reserves based upon year-end CIG
pricing of $5.54 per MMBtu for natural gas in accordance with the
SEC's former reserve reporting rules, our year-end proved reserves
would have been approximately 830 Bcfe.

"Given how challenging our situation was, I can't help but be
proud of how far we've come and where we stand today."

                  Strategic Alternatives Update

On November 30, 2009, Delta retained Morgan Stanley and Evercore
Partners to evaluate and advise the Board of Directors on
strategic alternatives to enhance shareholder value.  The process
is in its advanced stages and the Company does not expect to make
further public comment regarding the process until the Board of
Directors has approved a specific transaction or otherwise
determines that disclosure of significant developments, if any, is
appropriate.

                         Liquidity Update

At December 31, 2009, the Company had $61.9 million in cash and
approximately $41 million available under its credit facility
(based on the borrowing base as re-determined on October 30,
2009).  On May 13, 2009, Delta completed an underwritten public
offering of 172.5 million shares of common stock at $1.50 per
share for net proceeds of $246.9 million, net of underwriting
commissions and related offering expenses.  On May 19, 2009, the
Company received from the U.S. government approximately
$47.0 million in net offshore litigation proceeds related to the
Amber Case and on December 29, 2009, received an additional
$48.7 million in net proceeds related to the offshore California
lease 452 litigation.  With proceeds from these transactions,
Delta reduced its borrowings outstanding under the credit facility
from $294.5 million at December 31, 2008, to $124.0 million at
December 31, 2009, with $39.8 million of remaining availability
based on the current $185.0 million borrowing base with a required
minimum availability of $20.0 million and outstanding letters of
credit totaling $1.2 million.  The semi-annual scheduled borrowing
base redetermination is currently in process, and the borrowing
base could change depending on the lending banks' commodity price
forecasts as well as changes in their calculations of Delta's
producing reserve base.  In addition, the Company reduced its
accounts payable from $159.0 million at December 31, 2008, to
$44.2 million at December 31, 2009.

The Company was in compliance with the capital expenditure and
accounts payables covenants under its credit facility at
December 31, 2009, and was also in compliance with the financial
ratio covenants contained therein (although they had previously
been waived for December 31, 2009, and March 31, 2010, in
conjunction with the Second Amendment in October 2009).  Although
waivers were obtained for its financial ratio covenants for the
quarter ending March 31, 2010, the Company anticipates being in
compliance with its financial ratio covenants.

DHS Drilling Company remained out of compliance with the debt
covenants under its credit facility and its forbearance agreement
with Lehman Commercial Paper, Inc. expired on June 15, 2009.  As a
result, amounts outstanding under the DHS credit facility are
classified as a current liability in the accompanying consolidated
balance sheet as of December 31, 2009.  DHS continues discussions
with its credit facility lender regarding amendments, waivers or
other restructuring of the credit facility, but there can be no
assurance that the lender will agree to any such amendments.

                          Balance Sheet

The Company's balance sheet as of Dec. 31, 2009, showed
$1.457 billion in assets, $760.4 million of debts, and
$697.1 million of stockholders' equity.

                       Going Concern Doubt

KPMG LLP, in Denver expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors reported that due to continued losses the Company is
evaluating strategic alternatives including, but not limited to
the sale of some or all of its assets.  "There can be no
assurances that actions undertaken will be sufficient to repay
obligations under the credit facility when due, which raises
substantial doubt about the Company's ability to continue as a
going concern."

A full-text copy of the press release is available for free at:

                 http://researcharchives.com/t/s?58cd

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

                 http://researcharchives.com/t/s?58cc

                      About Delta Petroleum

Delta Petroleum Corporation (NASDAQ Global Market: DPTR)
-- http://www.deltapetro.com/-- is an oil and gas exploration and
development company based in Denver, Colorado.  The Company's core
areas of operations are the Rocky Mountain and Gulf Coast Regions,
which comprise the majority of its proved reserves, production and
long-term growth prospects.


DEUCE INVESTMENTS: Amends Schedules of Assets and Liabilities
-------------------------------------------------------------
Deuce Investments, Inc., filed with the U.S. Bankruptcy Court for
the Eastern District of North Carolina amended schedules of assets
and liabilities, disclosing:

  Name of Schedule                Assets          Liabilities
  ----------------                ------          -----------
A. Real Property               $17,134,140
B. Personal Property              $200,142
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                  $12,454,608
E. Creditors Holding
   Unsecured Priority
   Claims                                             $157,550
F. Creditors Holding
   Unsecured Non-priority
   Claims                                           $8,842,651
                                  -----------     ------------
TOTAL                             $17,334,282      $21,454,809

Clayton, North Carolina-based Deuce Investments, Inc., filed for
Chapter 11 bankruptcy protection on February 12, 2010 (Bankr. E.D.
N.C. Case No. 10-01083).  Trawick H. Stubbs, Jr., Esq., at Stubbs
& Perdue, P.A., assists the Company in its restructuring effort.
The Company has assets of $17,334,282, and total debts of
$21,297,698.


DIAMOND DECISIONS: Trustee Wants Case Converted to Chapter 7
------------------------------------------------------------
Howard Grobstein, Chapter 11 trustee in the Chapter 11 cases of
Diamond Decisions Inc., asks the U.S. Bankruptcy Court for the
Central District of California to:

   -- convert the case to one under Chapter 7 of the Bankruptcy
      Code; and

   -- compel the management and employees to turn over all
      laptops, records and other items used in connection with the
       Debtor's business operations so that the Trustee can secure
      the information to protect the estate.

The Chapter 11 trustee related that, based on his investigations,
there is no basis in continuing to operate the Debtor's business
as a going concern, i.e. the Debtor's business doesn't have a
valid insurance coverage.

Sunnyside, Washington-based Cervantes Orchards and Vineyards LLC
filed for Chapter 11 bankruptcy protection on February 12, 2010
(Bankr. E.D. Wash. Case No. 10-00787).  Steven H. Sackmann, Esq.,
at Sackmann Law Office, 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.

Los Angeles, California-based Diamond Decisions Inc. filed for
Chapter 11 bankruptcy protection on February 12, 2010 (Bankr. C.D.
Calif. Case No. 10-15109).  Brent H. Blakely, Esq., who has an
office in Hollywood, California, 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.


DIAMOND DECISIONS: Howard Grobstein Appointed as Ch. 11 Trustee
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
approved the appointment of Howard Grobstein as trustee in the
Chapter 11 cases of Diamond Decisions Inc.

As reported in the Troubled Company Reporter on February 22, 2010,
Union Bank, N.A., a secured creditor of the Debtor, asked for the
appointment of a Chapter 11 trustee because:

   -- the Debtor is in default with Union Bank with respect to a
      $15 million secured loan that matured on December 1, 2009;

   -- the Debtor and its principals, Carolyn Jones and Rhonda
      Kilpatrick (who are also guarantors of the Loan) committed
      manifest fraud in the inception of the loan, and have
      continued to engage in acts of malfeasance vis-a-vis Union
      Bank and its collateral for the loan.

The Court also fixed the trustee's individual bond to $10,000.

Sunnyside, Washington-based Cervantes Orchards and Vineyards LLC
filed for Chapter 11 bankruptcy protection on February 12, 2010
(Bankr. E.D. Wash. Case No. 10-00787).  Steven H. Sackmann, Esq.,
at Sackmann Law Office, 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.

Los Angeles, California-based Diamond Decisions Inc. filed for
Chapter 11 bankruptcy protection on February 12, 2010 (Bankr. C.D.
Calif. Case No. 10-15109).  Brent H. Blakely, Esq., who has an
office in Hollywood, California, 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.


DISCOVERY LABORATORIES: Posts $30.2 Million Net Loss in 2009
------------------------------------------------------------
Discovery Laboratories, Inc., filed its annual report on Form 10-
K, showing a net loss of $30.2 million on zero revenue for 2009,
compared with a net loss of $39.1 million on $4.6 million of
revenue for 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$21.4 million in assets, $16.9 million of debts, and $4.5 million
of stockholders' equity.

Ernst & Young LLP, in Philadelphia, expressed substantial doubt
about the Company's ability to continue as a going concern.  The
independent auditors noted that of the Company's recurring
operating losses and negative cash flows form operations since
inception.

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

                   http://researcharchives.com/t/s?58b5

Warrington, Pa.-based Discovery Laboratories, Inc. (NASDAQ: DSCO)
-- http://www.discoverylabss.com/-- is a biotechnology company
developing surfactant therapies to treat respiratory disorders and
diseases for which there frequently are few or no approved
therapies.  The Company's KL4 proprietary technology produces a
synthetic, peptide-containing surfactant that is structurally
similar to pulmonary surfactant, a substance produced naturally in
the lung and essential for survival and normal respiratory
function.


DOUGLAS EDWARD FARLEY: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Joint Debtors: Douglas Edward Farley
               Peggy Ann Farley
               4113 Hwy 70e
               Cookeville, TN 38506

Bankruptcy Case No.: 10-02670

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       Middle District of Tennessee (Cookeville)

Judge: Marian F. Harrison

Debtors' Counsel: Richard Dale Bohannon, Esq.
                  Dale Bohannon
                  115 S Dixie Ave
                  Cookeville, TN 38501
                  Tel: (931) 526-7868
                  Fax: (931) 528-3418
                  Email: dbohannon@charterinternet.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 $1,038,904
and total debts of $612,570.

The Debtors did not file a list of their 20 largest unsecured
creditors when they filed their petition.

The petition was signed by the Joint Debtors.


E AND J DEVELOPERS: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: E and J Developers, LLC
        4180 Duluth Ave
        Rocklin, CA 95765

Bankruptcy Case No.: 10-25873

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Robert S. Bardwil

Debtor's Counsel: John David Maxey, Esq.
                  13 SierraGate Plaza #B
                  Roseville, CA 95678
                  Tel: (916) 786-7272

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 Eric Richardson, managing member of the
Company.


E*TRADE FINANCIAL: Discloses Projections at Citi Conference
-----------------------------------------------------------
E*Trade Financial Corporation CFO Bruce Nolop said at the Citi
Financial Services Conference that the Company sees an impact of
about $50 million to its revenue due to "simplified and
transparent pricing" at its online brokerage business.

                           About E*TRADE

The E*TRADE FINANCIAL (NASDAQ: ETFC) family of companies provides
financial services including trading, investing and related
banking products and services to retail investors.  Securities
products and services are offered by E*TRADE Securities LLC
(Member FINRA/SIPC).  Bank products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its
subsidiaries.

                           *     *     *

The Company's current senior debt ratings are Caa3 by Moody's
Investor Service, CC/CCC-(3) by Standard & Poor's and B (high) by
Dominion Bond Rating Service.  The Company's long-term deposit
ratings are Ba3 by Moody's Investor Service, CCC+ (developing) by
Standard & Poor's and BB by DBRS.


E*TRADE FINANCIAL: Continues Chief Executive Officer Search
-----------------------------------------------------------
E*TRADE Financial Corporation gave an update on its chief
executive officer search.  Robert Druskin, the Company's interim
Chief Executive Officer, stated that the preferred candidate
mentioned by the Company is no longer under consideration and that
the Company's Board of Directors' search committee continues to
move forward and is focused on identifying the very best person to
lead the Company.

Mr. Druskin also stated that he is actively involved in the
business and remains fully committed to serving as interim Chief
Executive Officer until the Company completes the process and a
permanent CEO is in place.

                           About E*TRADE

The E*TRADE FINANCIAL (NASDAQ: ETFC) family of companies provides
financial services including trading, investing and related
banking products and services to retail investors.  Securities
products and services are offered by E*TRADE Securities LLC
(Member FINRA/SIPC).  Bank products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its
subsidiaries.

                           *     *     *

The Company's current senior debt ratings are Caa3 by Moody's
Investor Service, CC/CCC-(3) by Standard & Poor's and B (high) by
Dominion Bond Rating Service.  The Company's long-term deposit
ratings are Ba3 by Moody's Investor Service, CCC+ (developing) by
Standard & Poor's and BB by DBRS.


EACO CORP: Amends Report for 1st 8 Months of 2009; Posts $100 Loss
-----------------------------------------------------------------
EACO Corporation has filed Amendment No. 1 to its Transition
Report on Form 10-K for the eight months ended August 31, 2009,
filed with the Securities and Exchange Commission on December 23,
2009, solely to add the audited consolidated balance sheet as of
January 2, 2008, the audited consolidated statements of
operations, cash flows and shareholders' (deficit) equity for the
fiscal years ended December 31, 2008, and January 2, 2008, and the
related management's discussion and analysis of financial
condition and results of operations, all of which had been
previously filed with the SEC on the Company's Annual Report on
Form 10-K for the fiscal year ended December 31, 2008.

The Company reported a net loss of $100 on $647,200 of revenue for
the eight months ended August 31, 2009, compared with a net loss
of $1.8 million on $916,400 of revenue for the same period of
2008.

The Company's balance sheet as of August 31, 2009, showed in
$12.0 million assets and $15.9 million of debts, for a
stockholders' deficit of $3.9 million.

Squar, Milner, Peterson, Miranda and Williamson, LLP, in Newport
Beach, California, expressed substantial doubt about the Company's
ability to continue as a going concern after auditing the
Company's financial statements as of and for the year ended
December 31, 2008.  The independent auditors noted that of the
Company's significant losses from operations, negative cash flows
from opeations, and working capital deficit.

In its report for the transition period ended August 31, 2009, the
Company said it incurred significant losses and had negative cash
flow from operations for the eight months ended August 31, 2009,
and had a working capital deficit of approximately $10,750,000 at
that date.  The cash balance at August 31, 2009 was $42,500.

A full-text copy of the amended transition report for the eight
months ended August 31, 2009, is available for free at:

                  http://researcharchives.com/t/s?58b3

The Company reported a net loss of $385,600 on $241,600 of revenue
for the three months ended November 30, 2009, compared to a net
loss of $544,500 on $270,600 of revenue for the same period of
2008.

A full-text copy of the Company's quarterly report for the three
months ended November 30, 2009, is available for free at:

                   http://researcharchives.com/t/s?58b4

                         About EACO Corp.

Anaheim, Calif.-based EACO Corporation was organized under the
laws of the State of Florida in September l985.  From the
inception of the Company through June 2005, the Company's business
consisted of operating restaurants in the State of Florida.  On
June 29, 2005, the Company sold all of its operating restaurants
including sixteen restaurant businesses, premises, equipment and
other assets used in restaurant operations.  The Company's
remaining operations principally consist of managing four rental
properties held for investment located in Florida and California.

On September 29, 2009, the Board of Directors approved a change in
the Company's fiscal year end to August 31.  Prior to that, the
fiscal year was the fifty-two or fifty-three week period ending on
the Wednesday nearest to December 31.


EAST WEST RESORT: Tahoe Club Files Schedules of Assets & Debts
--------------------------------------------------------------
Tahoe Club Company, LLC, a debtor-affiliate of East West Resort
Development V, L.P., L.L.L.P., filed with the U.S. Bankruptcy
Court for the District of Delaware its schedules of assets and
liabilities, disclosing:

  Name of Schedule                Assets          Liabilities
  ----------------                ------          -----------
A. Real Property               $82,379,812
B. Personal Property            $7,912,488
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                          $0
E. Creditors Holding
   Unsecured Priority
   Claims                                            $766,600
F. Creditors Holding
   Unsecured Non-priority
   Claims                                         $18,365,281
                                  -----------     ------------
TOTAL                             $90,292,300     $19,131,881

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. Delaware Case No. 10-10452),
estimating its 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.

The Debtors' financial advisor is Houlihan Lokey Howard & Zukin
Capital, Inc.  The Debtors' claims agent is Epiq Bankruptcy
Solutions.


EAST WEST RESORT: U.S. Trustee Unable to Form Creditors Committee
-----------------------------------------------------------------
Roberta A. DeAngelis, the Acting U.S. Trustee for Region 3,
notified the U.S. Bankruptcy Court for the District of Delaware
that she was unable to appoint an official committee of unsecured
creditors in the Chapter 11 cases of East West Resort Development
V, L.P., L.L.L.P., and its debtor-affiliates.

The U.S. Trustee related that there were insufficient number
unsecured creditors who expressed willingness to serve in the
committee.

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. Delaware Case No. 10-10452),
estimating its 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.

The Debtors' financial advisor is Houlihan Lokey Howard & Zukin
Capital, Inc.  The Debtors' claims agent is Epiq Bankruptcy
Solutions.


EASTMAN KODAK: Tenders for $200MM Notes Repurchase Exceed Max
-------------------------------------------------------------
Eastman Kodak Company reported the expiration and final results of
its tender offer to purchase up to $200 million of its outstanding
7.25% Senior Notes due 2013.

The Tender Offer expired on March 9, 2010.  Based on information
provided by the depositary for the Tender Offer, an aggregate
principal amount of approximately $220 million of 2013 Notes were
validly tendered and not validly withdrawn in the Tender Offer,
which exceeded the Maximum Tender Amount of $200 million.  As a
result, the 2013 Notes accepted for purchase were subject to
proration pursuant to the terms of the Tender Offer at a factor of
approximately 91% of the 2013 Notes validly tendered and not
withdrawn.  Accordingly, Kodak accepted for purchase $200 million
aggregate principal amount of 2013 Notes pursuant to the terms of
the Tender Offer.  2013 Notes not accepted for purchase will be
promptly returned to the tendering holder or, if tendered through
the facilities of the Depository Trust Company, credited to the
relevant account at DTC in accordance with DTC procedures. The
settlement for the Tender Offer is expected to occur promptly.

Holders of 2013 Notes who validly tendered their 2013 Notes in the
Tender Offer as of 5:00 p.m., New York City time on Thursday,
February 11, 2010, will receive $950.00 per $1,000 principal
amount of 2013 Notes accepted in the Tender Offer.

Holders of 2013 Notes who validly tender their 2013 Notes after
the Early Tender Date and at or before the Expiration Date will be
eligible to receive $910.00 per $1,000 principal amount of 2013
Notes accepted in the Tender Offer, which excludes the early
tender premium equal to $40.00 per $1,000 principal amount of 2013
Notes.

Payments for 2013 Notes purchased in the Tender Offer will include
accrued and unpaid interest from and including the last interest
payment date to, but excluding, the settlement date.  The
conditions to the Tender Offer have been satisfied.

As previously disclosed on February 24, 2010, the Tender Offer for
up to $200 million of the 2013 Notes is part of a series of
related financing transactions that also included a private
placement of $500 million aggregate principal amount of 9.75%
Senior Secured Notes due 2018 and the repurchase of $300 million
of 2017 Senior Secured Notes from affiliates of Kohlberg Kravis
Roberts & Co. L.P.  On March 5, 2010, Kodak completed the private
placement of $500 million in Senior Secured Notes due 2018 and the
repurchase of notes from KKR.  KKR's equity investment in the
company was not impacted by these financing transactions.  Kodak
intends to fund the repurchase of the 2013 Notes in the Tender
Offer from the net proceeds of the private placement and, to the
extent necessary, cash on hand.

A full-text copy of the Security Agreement is available for free
at http://ResearchArchives.com/t/s?58be

A full-text copy of the Collateral Trust Agreement is available
for free at http://ResearchArchives.com/t/s?58bf

                        About Eastman Kodak

Headquartered in Rochester, New York, Eastman Kodak Company
(NYSE:EK) -- http://www.kodak.com/-- provides imaging technology
products and services to the photographic and graphic
communications markets.

As of December 31, 2009, the Company had total assets of $7.691
billion against total liabilities of $7.724 billion, resulting in
shareholders' deficit of $35 million.

On February 19, 2010, Moody's revised its rating outlook on the
Company from negative to stable, and affirmed its B3 corporate
rating and Caa1 senior unsecured rating.

On February 11, 2010, S&P revised its B- rating outlook on the
Company to stable from negative.  All ratings on the Company,
including the B- Corporate Rating, were affirmed.


EAU TECHNOLOGIES: Gets Board's Go Signal to Sell Common Stock
-------------------------------------------------------------
The Board of Directors of EAU Technologies authorized the sale of
100,000 unregistered shares of Common Stock of the Company at a
price of $1.00 per share to Theodore Jacoby, a director of the
Company.  The sale was made pursuant to a Stock Purchase Agreement
between the Company and Mr. Jacoby.

In connection with the sale, JL Montgomery Consulting, LLC, agreed
to waive the potential application of the antidilution provision
in its warrants under the consulting agreement between JLM and the
Company.  Further, Water Science LLC agreed to waive the potential
application of the antidilution provisions in the warrant
agreement and in Section 9 of its convertible note.

Absent these waivers, the exercise price of the warrants and the
conversion price of the convertible note may have been subject to
downward adjustment based on the $1.00 price offered to Mr.
Jacoby.  Water Science is controlled by Peter Ullrich, a director
of the Company, and JLM is controlled by J. Leo Montgomery, also a
director of the Company.

A full-text copy of the stock purchase agreement is available for
free at http://ResearchArchives.com/t/s?58bb

                      About EAU Technologies

EAU Technologies, Inc., previously known as Electric Aquagenics
Unlimited, Inc., develops, manufactures and markets equipment that
uses water electrolysis to create non-toxic cleaning and
disinfecting fluids.

According to the Troubled Company Reporter on December 7, 2009,
the Company had $4,287,942 in total assets against $17,259,775 in
total liabilities, resulting in $12,971,833 in stockholders'
deficit at September 30, 2009.


ECOVENTURE WIGGINS: Lenders Foreclose on Aqua Condominium
---------------------------------------------------------
Laura Layden at Naples News says lenders took control of Aqua, a
condominium in North Naples, from developer EcoVenture Wiggins
Pass Ltd.  Regions Bank will handle the sale of building and its
condos, and Premier Properties was selected as the exclusive sale
and marketing agency.

Ecoventure Wiggins Pass Ltd. owns a luxury condominium project in
Naples, Florida, known as the Aqua at Pelican Isle Yacht Club.
The Company and two of its affiliates, Aqua at Pelican Isle Yacht
Club Marina Inc. and Pelican Isle Yacht Club Partners, Ltd., filed
for Chapter 11 protection on June 24, 2008 (Bankr. M.D. Fla. Case
No. 08-09197).  Harley E. Riedel, Esq., and Stephen R. Leslie,
Esq., at Stichter, Riedel, Blain & Prosser, represent the Debtors
in their restructuring efforts.  When the Debtors filed for
protection against their creditors, they listed assets of
$134,000,000 and debts of $101,000,000.


EDIETS.COM INC: Posts $12.1 Million Net Loss in 2009
----------------------------------------------------
eDiets.com, Inc., filed its annual report on Form 10-K, showing a
net loss of $12.1 million on $18.1 million of revenue for 2009,
compared with a net loss of $19.8 million on $23.9 million of
revenue for 2008.

Revenues for the fourth quarter of 2009 were $3.9 million,
compared to $4.0 million in the prior year period.  The net loss
was $3.3 million for the fourth quarter of 2009 compared to a net
loss of $8.4 million for the fourth quarter of 2008.  Results for
the fourth quarter of 2008 included a non-cash, impairment charge
of $5.2 million related to the goodwill of the Company's business-
to-consumer segment.

The Company's balance sheet as of Dec. 31, 2009, showed
$12.5 million in assets and $22.0 million of debts, for a
stockholders' deficit of $9.6 million.

Ernst & Young LLP expressed substantial doubt about the Company's
ability to continue as a going concern.  The independent auditors
noted that of the Company's recurring operating losses, working
capital deficiency and net capital deficiency.

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

                  http://researcharchives.com/t/s?58c6

Fort Lauderdale, Fla.-based eDiets.com, Inc. (NASDAQ: DIET)
http://www.eDiets.com/-- is a provider of personalized nutrition,
fitness and weight-loss programs.


EMPIRE RESORTS: Retains Merrill Lynch as Financial Advisor
----------------------------------------------------------
On March 8, 2010, Empire Resorts, Inc., entered into a letter
agreement with Merrill Lynch, Pierce, Fenner & Smith Incorporated,
pursuant to which the Company retained Merrill Lynch as the
Company's exclusive financial advisor in connection with a
restructuring of certain liabilities of the Company.

The restructuring may include: (i) a restructuring, reorganization
or recapitalization affecting the Company's existing or potential
debt obligations or other claims, including its 5 1/2% convertible
senior notes and/or one or more series of its preferred stock;
(ii) any complete or partial repurchase, refinancing, exchange,
extension or repayment by the Company of any of the obligations;
and (iii) any public or private offering of any new debt
obligations or claims of the Company or of the Company's common
stock, in each case to facilitate the transactions described in
clauses (i) and/or (ii) above.

The agreement became effective as of March 8, 2010, and may be
terminated at any time by either party, except for certain
provisions that survive termination of the agreement.

                       About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- owns and operates the
Monticello Casino & Raceway, a harness racing track and casino
located in Monticello, New York, and 90 miles from midtown
Manhattan.

                       Going Concern Doubt

At September 30, 2009, the Company's consolidated balance sheets
showed $51.3 million in total assets and $78.7 million in total
current liabilities, resulting in a $27.4 million shareholders'
deficit.

The Company says its ability to continue as a going concern is
dependent upon a determination that it did not have the obligation
to repurchase its $65 million of 5-1/2% senior convertible notes
on July 31, 2009, and/or its ability to arrange financing with
other sources to fulfill its obligations under a loan agreement
with The Park Avenue Bank of New York.  The Company is continuing
efforts to obtain financing, but there is no assurance that it
will be successful in doing so.  The Company believes these
factors, as well as continuing net losses and negative cash flows
from operating activities, raise substantial doubt about its
ability to continue as a going concern.

On November 9, 2009, Empire Resorts received a notice from The
Bank of New York Mellon Corporation, as indenture trustee under
that certain indenture, dated as of July 26, 2004, by and among
the Company, the Trustee and certain guarantors named therein.
The Notice asserted that an event of default has occurred and is
continuing, which has not been waived, as a result of the
Company's failure to pay the principal amount of the Company's
5-1/2% senior convertible notes, plus accrued and unpaid interest
and liquidated damages, upon the purported timely exercise of
certain put rights under the Indenture.


ENVIROSOLUTIONS HOLDINGS: Files for Pre-Arranged Bankruptcy
-----------------------------------------------------------
EnviroSolutions Holdings Inc., along with 21 affiliates filed for
Chapter 11 in Manhattan (Bankr. S.D.N.Y. Lead Case No. 10-11261)

The Company said in a statement that it has an agreement with
senior lenders that will lower its debt and interest payments.
The pre-arranged Chapter 11 reorganization is part of this
agreement, which will give the senior lenders an equity stake in
the company.

"The asset base of the company will remain intact and our
operations will continue with business as usual," EnviroSolutions
Chief Executive Officer Eric Wallace said in the statement sent to
Bloomberg.  "The restructuring is expected to lower our debt by 60
percent."

According to Reuters, the Company said it expects to have
sufficient cash to fund operations during bankruptcy but sought
court approval for a $30 million debtor-in-possession loan in the
event its Chapter 11 cases last longer than anticipated or if its
financial results and cash flow are weaker than expected.

EnviroSolutions said the slowdown in business during the recession
made servicing the Company's debt increasingly burdensome.

According to Bloomberg, Standard & Poor's Financial Services LLC
said in a report last month that closely held EnviroSolutions'
operating earnings were likely to remain "weak" for the next
several quarters.  The report also said the company might violate
the covenants under its credit agreement or be unable to service
its debt if it couldn't get an amendment or a waiver from its debt
holders.

The Company has tapped Willkie Farr & Gallagher LLP, as bankruptcy
counsel.  The Company is hiring Barclays Capital, as financial
advisor, and Alvarez and Marsal North America, LLC, as
restructuring advisors.

EnviroSolutions Holdings, Inc., based in Manassas, Virginia, is an
integrated solid waste management company with a presence in
Virginia, Maryland, New Jersey, Kentucky, West Virginia, and the
District of Columbia.  The Company's assets include three
landfills, four transfer stations and several hauling and
collection operations.  EnviroSolutions had $359.3 million in
assets and $289 million in liabilities at Dec. 31, 2009.

John Longmire, Esq., at Willkie Farr & Gallagher LLP, in New York,
serves as counsel to the Debtor.  Barclays Capital is financial
advisor.  Alvarez and Marsal North America, LLC, serves as
restructuring advisor.


ENVIROSOLUTIONS HOLDINGS: Case Summary & Largest Unsec. Creditors
-----------------------------------------------------------------
Debtor: EnviroSolutions Holdings, Inc.
        11220 Asset Loop, Suite 201
        Manassas, VA 20109

Bankruptcy Case No.: 10-11261

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

About the Business: Based in Manassas, Virginia, EnviroSolutions
                    Holdings, Inc., is an integrated solid waste
                    management company with a presence in
                    Virginia, Maryland, New Jersey, Kentucky, West
                    Virginia, and the District of Columbia.  The
                    company's assets include three landfills, four
                    transfer stations and several hauling and
                    collection operations.

Debtors' Counsel: John Longmire, Esq.
                  Willkie Farr & Gallagher LLP
                  787 Seventh Avenue
                  New York, NY 10019-6099
                  Tel: (212) 728-8574
                  Fax: (212) 728-8111
                  Email: maosbny@willkie.com

Debtors' Counsel: Willkie Farr & Gallagher LLP

Debtors' Financial Advisor: Barclays Capital

Debtors' Restructuring Advisor: Alvarez and Marsal North
                                America, LLC

Estimated Assets: $100,000,001 to $500,000,000

Estimated Debts: $100,000,001 to $500,000,000

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

                http://bankrupt.com/misc/nysb10-11236.pdf

Debtor's List of 50 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
U.S. Bank National         Unsecured              $41,663,152
Association                Subordinated
Indenture Trustee          Note
EP-MN-WS3C
60 Livingston Avenue
St. Paul, MN 55107

The NorthWestern
Mutual Life Insurance
Company
Noteholder
20 East Wisconsin Avenue
Milwaukee, WI
53202-4797

Mr. Harold Martin          Seller Deferred        $5,170,000
296 South Street           Compensation
Newark, NJ 07114

McDowell County            Seller Deferred        $3,000,000
Economic Development       Compensation
Authority
92 McDowell Street,
Suite 100
Welch, WV 24801

or

McDowell County
Waste Authority
36 Elkhorn Street
Welch, WV 24801

W. Todd Skaggs             Seller Deferred        $3,000,000
1726 Beverly Boulevard     Compensation
Ashland, KY 41101

and

Andrew Skaggs
1601 Lawrence Avenue
Ashland, KY 41102

PNC Bank                  Line of Credit          $2,500,000
PO Box 535239
Pittsburgh, PA
15253-5239

CSX Transportation        Service Provider        $406,550
PO Box 640839
Pittsburgh, PA 15264-0839

Liberty Waste              Hauler                 $210,280
Transportation LLC

Wills Trucking Company     Hauler                 $181,497

FAES Amadeo Farell S.A.U.  Parts Supplier         $181,389

Covanta Energy             Disposal Facility      $145,000

English Paving Co.         Contractor             $112,027

Drew Transport Services    Hauler                 $92,088
LLC

Fairfax County Disposal    Disposal Facility      $92,000

Pollution Control          Disposal Facility      $66,909
Financing Authority
of Warren County

King & Queen               Disposal Facility      $64,733

Holtzman Propane           Fuel                   $50,000

Berry Plastics             Trade Vendor           $50,000
Corporation

Shoosmith Construction,    Disposal Facility      $45,000
Inc.

Loudoun Composting         Disposal Facility      $41,427

Recycle 1 C&D              Disposal Facility      $41,000
Processing, Inc.

Northeast Environmental    Hauler                 $38,171
Transportation

SSI Shredding System,      Parts Supplier         $37,106
Inc.

Federal IPC LLC            Disposal Facility      $35,000

PSE&G Co.                  Utility                $32,286

Dun & Bradstreet           Credit Agency          $31,464

Anne Arundel County        Host Community Fee     $30,000
Department of Public Works

The Huntington Sanitary    Leachate Disposal      $29,620
Board

Alban Tractor Co., Inc.    Parts Supplier         $29,157

Quarles Fuel Network       Fuel                   $27,500

Rodgers Brothers Service,  Disposal Facility      $22,500
Inc.

Woodford Oil Co.            Fuel                  $20,000

Lehigh Valley Erector Inc.  Contractor            $18,440

Potomac Mack Sales &        Parts Supplier        $17,805
Service Inc.

Boyd County Fiscal Court    Host Community Fee    $17,000

Brown Station Road          Disposal Facility     $16,000
Landfill

ISCO Industries, LLC        Contractor            $15,963

William Vukoder             Consultant            $15,000

Rumpke                      Hauler                $14,360

Wilkosz, LLC                Hauler                $12,790

Samaha Associates PC        Contractor            $12,621

William A. Hazel, Inc.      Equipment Rental      $12,600

Montgomery County           Disposal Facility     $12,500
Solid Waste Transfer
Station

City of Newark-HCF          Host Community Fee    $11,900
Division of Treasury

ADP                         Payroll Service       $10,886
                            Provider

Lanvera, LTD.               Data Center           $10,000

Prince William County       Disposal Facility     $9,900
Solid Waste Facilities

Motivated Security          Security Services     $9,887
Services

Binder Machinery Co.        Parts Supplier        $9,800

Apollo Development & Land   Lease Royalty         $9,600
Corp.

Capitol Fiber               Disposal Facility     $8,784

The petition was signed by Marc L. Bourhis, the company's vice
president.


Debtor-affiliates that filed separate Chapter 11 petitions:

                                                   Petition
  Debtor                               Case No.      Date
  ------                               --------      ----
EnviroSolutions of New York, LLC       10-11236    3/10/10
  Assets: $100 million to $500 million
  Debts: $100 million to $500 million
Advanced Enterprises Recycling, Inc.   10-11237    3/10/10
  Assets: $100 million to $500 million
  Debts:  $100 million to $500 million
Potomac Disposal Services of           10-11238    3/10/10
Virginia, LLC
Solid Waste Transfer and               10-11239    3/10/10
Recycling, Inc.
Ameriwaste, LLC                        10-11240    3/10/10
ETW, LLC                               10-11241    3/10/10
STI Roll-Off, LLC                      10-11242    3/10/10
Curtis Creek Recovery Systems, Inc.    10-11243    3/10/10
EnviroSolutions Logistics, LLC         10-11244    3/10/10
EnviroSolutions Leasing, LLC           10-11245    3/10/10
Doremus Ave Recycling and              10-11246    3/10/10
Transfer, LLC
Big Run Coal and Clay Company, Inc.    10-11247    3/10/10
River Cities Disposal, LLC             10-11248    3/10/10
9304 DArcy, LLC                        10-11249    3/10/10
Capels Landfill, LLC                   10-11250    3/10/10
Furnace Associates, Inc.               10-11251    3/10/10
BR Landfill, LLC                       10-11252    3/10/10
Potomac Disposal Services of           10-11253    3/10/10
Virginia Real Property Holdings, LLC
Ashland Investments, LLC               10-11254    3/10/10
BR Property Holdings, Inc.             10-11257    3/10/10
  Assets: $100 million to $500 million
  Debts:  $100 million to $500 million
EnviroSolutions, Inc.                  10-11259    3/10/10
  Assets: $100 million to $500 million
  Debts:  $100 million to $500 million
EnviroSolutions Real                   10-11260    3/10/10
Property Holdings, Inc.
  Assets: $100 million to $500 million
  Debts:  $100 million to $500 million


ENVIROSOLUTIONS HOLDINGS: Moody's Cuts Corp. Family Rating to 'Ca'
------------------------------------------------------------------
Moody's Investors Service downgraded its debt ratings of
EnviroSolutions Holdings, Inc. -- corporate family to Ca from
Caa3, probability of default to D from Caa3, and senior secured to
Caa3 from Caa2.  The downgrades follow EnviroSolutions' March 10,
2010 announcement that it filed for Chapter 11 protection in U.S.
Bankruptcy Court in Sothern District of New York.  The outlook was
changed to stable.  Moody's also will withdraw all of its debt
ratings of EnviroSolutions because of the bankruptcy filing.  The
outlook is stable.

The probability of default rating of D reflects that timely
payments of interest and principal amortization are not likely to
occur because of the bankruptcy filing.  Moody's used a
fundamental EBITDA multiple to estimate the enterprise value of
EnviroSolutions and the family level loss-given-default rate
because of the company's weakened financial condition.  Moody's
believes that the expected family recovery rate could approximate
50%.  The LGD-3 Loss Given Default Assessment of the senior
secured credit facility implies that the potential exists for
lenders to receive less than a full recovery.

The last rating action on EnviroSolutions was on September 4,
2009, when Moody's downgraded the ratings, including the Corporate
Family rating to Caa3 from Caa2 and changed the outlook to
negative.

Downgrades:

Issuer: EnviroSolutions Holdings, Inc.

  -- Probability of Default Rating, Downgraded to D from Caa3
  -- Corporate Family Rating, Downgraded to Ca from Caa3

Issuer: EnviroSolutions Real Property Holdings, Inc.

  -- Senior Secured Bank Credit Facility, Downgraded to Caa3 from
     Caa2

Outlook Actions:

Issuer: EnviroSolutions Holdings, Inc.

  -- Outlook, Changed To Stable From Negative

Issuer: EnviroSolutions Real Property Holdings, Inc.

  -- Outlook, Changed To Stable From Negative

EnviroSolutions Holdings, Inc., based in Manassas, Virginia, is an
integrated solid waste management company operating landfills,
transfer stations, and hauling and collection operations in
certain mid-Atlantic and Northeast states.


EPIC AIR: Harlow CEO Phillip Friedman Eyeing Assets
---------------------------------------------------
The Wichita Eagle reports that Phillip Friedman, chief executive
officer of Harlow Aerostructures, said he is attempting to acquire
Epic Air.  A trustee for the Company asked a court to approve the
sale to Mr. Friedman for $2 million.  The bankruptcy schedule has
valued Epic Air at $20.295 million.

Bend, Oregon based Epic Aircraft -- http://www.epicaircraft.com/-
- made six-seat aircraft jets.  Epic Air sold a $1.8 million kit
to build a six-seat turboprop aircraft called the LT.  But the
doors were shut by August, with a note on the front door claiming
the owner failed to pay rent and the landlord, ER1, a Delaware
limited liability firm, had taken possession of the property.
Workers, which totaled 200, later were allowed in to retrieve
their tools.


EPV SOLAR: Wins Court Okay to Use Patriarch Collateral
------------------------------------------------------
EPV Solar, Inc., obtained interim permission from the U.S.
Bankruptcy Court for the District of New Jersey to use its
prepetition secured lenders' cash collateral and granting adequate
protection to the senior lenders.

Patriarch tried -- but failed -- to block approval of the Debtor's
request.

The Debtor said that without the immediate use of the Prepetition
Secured Lenders' cash collateral, it will be unable to pay its
ordinary and necessary business expenses including, but not
limited to, payroll and related obligations, rent, taxes,
utilities, amounts owed to vendors and other supplies of goods and
services, insurance, and other costs of administering its estate.

As of the Petition Date, the Debtor owed $3.6 million under a
November 2009 secured credit agreement with Patriarch Partners
Agency Services, LLC, and other lenders.  The amount owed is
exclusive of the last interest payment due on February 18, 2010,
the maturity date.  The Debtor was unable to repay its obligations
to Patriarch by the maturity date and, on the Maturity Date,
Patriarch provided the Debtor with a Notice of an Event of
Default.  Subsequently, on February 22, 2010, Patriarch provided
the Debtor with a Notice of Disposition of Collateral, with an
auction scheduled for March 5, 2010.

The Debtor also owed $55.5 million to holders of 1% Convertible
Senior Secured PIK Notes Due 2016.  The Bank of New York Mellon
serves as trustee for the Subordinated Noteholders.

In its motion, the Debtor said it will grant the Senior Lenders
replacement liens solely to the extent of any diminution in value
of their collateral.  The Debtor will also fully repay the Senior
Lenders from the proceeds of a sale of its module manufacturing
assets.  The Debtor's prepetition secured obligations also are
secured by certain pledges of collateral by non-debtor
subsidiaries.

S. Jason Teele, Esq., at Lowenstein Sandler PC in New Jersey, said
the Debtor's use of cash collateral will prevent the abrupt
discontinuation of the Debtor's operations, which may adversely
affect the Debtor's ability to market and sell its module
manufacturing assets and reorganize its core equipment business.

                         Patriarch Objects

Patriarch argued that the Debtor has no unencumbered assets of any
material value, no equity cushion in its encumbered assets and no
operations to generate revenue or additional collateral.
Patriarch also said any "replacement lien" the Debtor could offer
would have no value because any sale would merely convert the
Senior Lenders' hard collateral to cash collateral, which the
Debtor proposes to use.

Patriarch pointed out the Debtor begins its 13-week budget period
with $685,000 in cash, adds projected cash receipts of nearly a
million dollars, yet ends up with only $58,000 at the end of the
period.  Accordingly, the Senior Lenders' and the Subordinated
Noteholders' collateral position will be diminished by over $1.5
million during the 13-week period.  Additionally, the Debtor's
projected expenditures are very large, in view of its recent
operating history.  The Debtor's revenue for all of 2009 was only
$3.8 million, and the Debtor conducted manufacturing operations
during nearly half of that period.  Yet, over the next 13 weeks,
the Debtor, which has completely ceased manufacturing operations,
proposes to spend over $1.5 million.

Patriarch also said the Debtor has advised that it has a buyer who
has agreed to purchase an interest in a joint venture that is not
part of the Senior Lenders' collateral because it was believed to
be of de minimis value.  According to the Debtor, the buyer is
prepared to pay $500,000 for the asset.  "If that is the case, no
interim use of cash collateral is required, and the Court should
not permit any further use of cash collateral prior to a final
hearing," Patriarch said.

Patriarch is represented in the case by:

     Paul R. DeFilippo, Esq.
     James N. Lawlor, Esq.
     WOLLMUTH MAHER & DEUTSCH LLP
     One Gateway Center Newark, NJ 07102
     Tel: (973) 733-9200
     Fax: (973) 733-9292

     -- and --

     Gregory M. Gordon, Esq.
     Debra K. Simpson, Esq.
     Robert J. Jud, Esq.
     JONES DAY
     2727 North Harwood Street
     Dallas, Texas 75201-1515
     Tel: (214) 220-3939
     Fax: (214) 969-5100

A final hearing on the Debtor's Cash Collateral Motion will be
held March 17, 2010.

A copy of the Cash Collateral Order and the budget is available at
no charge at http://bankrupt.com/misc/EPVSOLARCCOrder.pdf

Robbinsville, New Jersey-based EPV Solar, Inc., fka Energy
Photovoltaics, Inc., filed for Chapter 11 bankruptcy protection on
February 24, 2010 (Bankr. D. N.J. Case No. 10-15173).  Kenneth
Rosen, Esq., and Samuel Jason Teele, Esq., at Lowenstein Sandler
PC, assist the Company in its restructuring effort.  The Company
estimated its assets and its debts at $50,000,001 to $100,000,000.


ETERNAL ENERGY: Files Amended Q3 2009 Report; Has $3.5MM Net Loss
-----------------------------------------------------------------
Eternal Energy Corp. filed an amended quarterly report on Form
10-Q/A for the three months ended September 30, 2009, showing a
net loss of $3.5 million on $262,524 of revenue for the three
months ended September 30, 2009, compared with net income of
$221,808 on $750,000 of revenue for the same period of 2008.

The Company's balance sheet as of September 30, 2009, showed
$2.4 million in assets, $173,428 of debts, and $2.2 million of
stockholders' equity.

In 2009, the Company discovered that certain accounting errors had
occurred that affected its financial statements for the years
ended December 31, 2008, and 2007.  Specifically:

  -- the Company had improperly expensed its entire interest in
     the North Dakota prospect rather than expensing only the
     interest owned beneficially through its investment in Pebble
     Petroleum.  The Company sold its beneficial ownership
     interest in 2007;

  -- amounts advanced to Rover Resources Inc. in 2007 were
     improperly recorded as investments in oil and gas properties
     and subsequently expensed upon the sale of the Company's
     investment in Pebble Petroleum;

  -- a gain on the sale of the Company's interest in Pebble
     Petroleum Inc. was improperly presented as a sale of an oil
     and gas prospect rather than as a gain on the sale of an
     equity investment;

  -- spud fee revenue was not recognized in the same period during
     which the initial drilling of the wells commenced;

  -- stock-based compensation expense was understated for 2006,
     2007 and 2008 due to an incorrect application of SFAS 123(R),
     Share-Based Payment; and

  -- the Company had overstated the gain associated with the sale
     of its Steamroller Prospect due to an incorrect application
     of the rules of the full cost method of accounting.

Due to the materiality of the errors, the Company has elected to
restate its 2008 and 2007 financial statements to reflect the
correction of these errors.  The amended Q3 2009 report discusses
the nature and effect of the corrections of the accounting errors
on the financial statements for the three-month and nine-month
periods ended September 30, 2008.

The Company has incurred net losses since inception.  This factor
raises substantial doubt about the Company's ability to continue
as a going concern.

A full-text copy of the amended quarterly report is available for
free at http://researcharchives.com/t/s?58af

The Company also filed amended reports for the quarterly periods
ended June 30, 2009, and March 31, 2009, and for the twelve months
ended December 31, 2008.

A full-text copy of the amended quarterly report for the three
months ended June 30, 2009, is available for free at:

                  http://researcharchives.com/t/s?58b0

A full-text copy of the Company's amended quarterly report for the
three months ended March 31, 2009, is available for free at:

                  http://researcharchives.com/t/s?58b1

A full-text copy of the Company's amended annual report for 2008
is available for free at:

                  http://researcharchives.com/t/s?58b2

                       About Eternal Energy

Based in Littleton, Colo., Eternal Energy Corp. (OTC BB: EERG) --
http://www.eternalenergy.com/ -- is an oil and gas company
engaged in the exploration of petroleum and natural gas.  The
Company was incorporated in Nevada on July 25, 2003 to engage in
the acquisition, exploration, and development of natural resource
properties.


EVERYDAY LOGISTICS: Asks for Court Okay to Use Cash Collateral
--------------------------------------------------------------
Everyday Logistics LLC has sought authorization from the U.S.
Bankruptcy Court for the Southern District of New York to use cash
securing their obligations to their prepetition lenders.

Eliot Spitzer, Esq., at Backenroth Frankel & Krinsky LLP, 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 weekly budget, a
copy of which is available for free at:

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

The Debtor purchased its sole asset, the Hudson Valley Resort &
Spa, from Minnewaska Company, L.L.C., in March 2006.  The Debtor
financed the purchase with a number of lenders, and subsequently
incurred additional secured debt.  The Hotel appears to be now
encumbered by six mortgages totaling in excess of $22.5 million.
The first mortgage is in favor Kennedy Funding Inc. in the amount
of approximately $10 million.  The second mortgage is in favor of
Park National Funding LLC in the amount of approximately $4
million.  The third mortgage is in favor of the seller Minnewaska
Company, LLC, in the amount of approximately $2.5 million.  The
fourth mortgage is in favor Stone Mountain Holdings LLC in the
amount of approximately $3 million.  The fifth mortgage is in
favor Yaakov Friedman in the amount of approximately $1 million,
and the sixth mortgage is in favor of CYB Trust in the amount of
approximately $2.1 million.

The Debtor requests entry of interim and final orders authorizing
the Debtor to use the mortgagees' cash collateral, including, cash
collateral relating to the Hotel's room revenues and food and
beverage revenues, and any other collateral in which the
mortgagees have an interest.

In exchange for using the cash collateral, the Debtors propose to
grant the mortgagees a replacement lien on the Debtor's assets to
protect the lenders form the diminution in value of the
collateral.  The Debtor promises to provide the lenders monthly
reports.

Kennedy Funding has objected to the Debtor's request to use cash
collateral, saying that the Debtor wasn't able to demonstrate how
it can adequately protect Kennedy Funding's interests, coupled
with potential significant discrepancies in the revenues projected
in the Debtor's budget.  Kennedy Funding has asked the Court to
(i) prohibit the Debtor from using or dissipating any cash
collateral held in its possession or in any account in any
financial institution without the written permission of Kennedy
Funding; (ii) direct the Debtor to immediately turn over to
Kennedy Funding that portion of the collateral constituting cash
collateral that is in the Debtor's possession or in any accounts
at any financial institutions or otherwise under the Debtor's
control; and (iii) direct the Debtor to segregate and account for
any and all cash collateral presently in its possession and/or
control, or hereafter received by the Debtor, or any entity under
the Debtor's control, from any source whatsoever, and to turn over
to Kennedy Funding any additional cash collateral as collected and
segregated.

Kennedy Funding is represented by Cole, Schotz, Meisel, Forman &
Leonard, P.A.

Monsey, New York-based Everyday Logistics LLC filed for Chapter 11
bankruptcy protection on January 7, 2010 (Bankr. S.D.N.Y. Case No.
10-22026).  The Company listed $1,000,001 to $10,000,000 in assets
and $10,000,001 to $50,000,000 in liabilities.


FAIRPOINT COMMS: Bank Debt Trades at 23% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which FairPoint
Communications, Inc., is a borrower traded in the secondary market
at 77.36 cents-on-the-dollar during the week ended Friday,
March 12, 2010, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 0.75 percentage points from the previous week, The
Journal relates.  The debt matures on March 31, 2015.  The Company
pays 275 basis points above LIBOR to borrow under the loan
facility.  Moody's has withdrawn its rating, while Standard &
Poor's has assigned a default rating on the bank debt.  The debt
is one of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- is an industry leading provider of
communications services to communities across the country.
FairPoint owns and operates local exchange companies in 18 states
offering advanced communications with a personal touch, including
local and long distance voice, data, Internet, television and
broadband services.  FairPoint is traded on the New York Stock
Exchange under the symbols FRP and FRP.BC.

FairPoint and its affiliates filed for Chapter 11 on Oct. 26, 2009
(Bankr. D. Del. Case No. 09-16335).  Rothschild Inc. is acting as
financial advisor for the Company; AlixPartners, LLP as the
restructuring advisor; and Paul, Hastings, Janofsky & Walker LLP
is the Company's counsel.  BMC Group is claims and notice agent.

As of June 30, 2009, FairPoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities, $2.91
billion in total long-term liabilities, and $1.23 million in total
stockholders' equity.

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


FAIRPOINT COMMUNICATIONS: Lease Decision Period Extended to May 24
------------------------------------------------------------------
Bankruptcy Judge Burton Lifland extended FairPoint Communicaitons
Inc. and its units lease decision period through and including
May 24, 2010.

                  About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- is an industry leading provider of
communications services to communities across the country.
FairPoint owns and operates local exchange companies in 18 states
offering advanced communications with a personal touch, including
local and long distance voice, data, Internet, television and
broadband services.  FairPoint is traded on the New York Stock
Exchange under the symbols FRP and FRP.BC.

Fairpoint and its affiliates filed for Chapter 11 on Oct. 26, 2009
(Bankr. S.D.N.Y. Case No. 09-16335).  Rothschild Inc. is acting as
financial advisor for the Company; AlixPartners, LLP as the
restructuring advisor; and Paul, Hastings, Janofsky & Walker LLP
is the Company's counsel.  BMC Group is claims and notice agent.

As of June 30, 2009, Fairpoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities, $2.91
billion in total long-term liabilities, and $1.23 million in total
stockholders' equity.

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


FAIRPOINT COMMUNICATIONS: Proposes USAT Settlement Agreement
------------------------------------------------------------
FairPoint Communications Inc. and its units seek the Court's
authority to enter into a settlement agreement with United Systems
Access Telecom, Inc.

USAT is a local exchange carrier that offers local access and
long distance services to customers in Eastern United States.  In
order to provide services to its customers, USAT uses network
resources provided by Debtor Northern New England Telephone
Operations LLC under various agreements.  Among others, NNETO and
USAT are parties a Services Agreement and an Interconnection
Agreement:

  A. Wholesale Package Services Agreement

     Pursuant to the Wholesale Agreement dated February 1, 2006,
     NNETO provides USAT with the loops, switches, and transport
     services that are used within a telecommunications network
     to connect calls between two telephones.  Services provided
     under the Wholesale Agreement allow a non-facilities-based
     telecommunications provider to deliver telephone service
     without deploying its own network infrastructure.

     The services that NNETO provides under the Wholesale
     Agreement are not regulated by the Federal Communications
     Commission and the Debtors are free to charge market prices
     for those services.

  B. Interconnection Agreement

     Pursuant to the Interconnection Agreement for the State of
     Maine dated September 14, 2001, as amended on January 24,
     2005, NNETO provides USAT with "UNE-Loops" and
     loop/transport combinations called enhanced extended links
     or EELs.  NNETO does not provide switching facilities with
     UNE-Loops and EELs.  In order for USAT's customers to
     complete telephone calls utilizing UNE-Loops and EELs, USAT
     must separately deploy its own switching facilities.

     Unlike the services that NNETO provides under the Wholesale
     Agreement, UNE-Loops and EELs are regulated by the Federal
     Communications Commission.  The FCC guidelines provide
     that in the absence of negotiated rates, state commissions
     will set the rates for UNE-Loops and EELs based on the
     carriers' total element long-run incremental costs or
     TELRIC.  TELRIC Rates are generally cheaper than retail
     rates and thus are highly favorable to CLECs like USAT.

Prior to August 2009, USAT asked NNETO to transition the services
it purchases from the Wholesale Agreement to the ICA.  By making
this change in the terms of service, USAT sought to take
advantage of the lower TELRIC rates available under the ICA.  At
that time, however, USAT was not making payments to NNETO under
the Wholesale Agreement or the ICA.  Indeed, on August 13, 2009,
NNETO notified USAT that its accounts were past due for services
invoiced.  Due to those past due accounts, NNETO denied USAT's
request for a change in the service terms.

As of November 6, 2009, USAT's past due accounts for services
invoiced totaled approximately $3.7 million.

On September 8, 2009, USAT filed a complaint with the Maine
Public Utilities Commission's Rapid Response Process Team in
order to compel NNETO to transition USAT's services from the
Wholesale Agreement to the ICA.  In an order dated September 25,
2009, the RRPT held that NNETO was obligated under the ICA to
accept and process new UNE-Loop and EEL service orders from USAT
despite the existence of past due accounts.  The RRPT further
held that NNETO could nevertheless elect to invoke Section 20.3
of the ICA, which required USAT to provide an "assurance of
payment" for services it purchased.

After engaging in extensive, arm's-length negotiations, the
Parties entered into a Settlement Agreement in order to resolve
their outstanding disputes related to the Wholesale Agreement and
ICA.

The salient provisions of the Settlement Agreement are:

  (a) USAT will pay NNETO a total of $2,900,000 in satisfaction
      of invoices billed to USAT (1) up to and including
      October 6, 2009 for services rendered under the Wholesale
      Agreement; and (2) up to and including November 6, 2009
      for transport provided under the Wholesale Agreement.

      The $2,900,000 total payment to NNETO will consist of (i)
      $220,000 that was previously paid; (ii) a $375,000 cash
      payment; and (iii) $2,305,000 to be paid in monthly
      installments.

  (b) USAT will provide a letter of credit in the amount of
      $375,000 to NNETO.

  (c) USAT will provide an "assurance of payment" deposit
      in the amount of $247,000.  Upon receipt of the deposit,
      NNETO will begin processing ICA orders for converting
      Wholesale Package Services Agreement customers.  The
      Debtors will return the deposit pursuant to the terms of
      the ICA.

  (d) On a going-forward basis, USAT will adopt the Wholesale
      Packages Services Agreement on the same terms as the
      Wholesale Agreement, but at a surcharge of $1.20 effective
      as of November 6, 2009.

  (e) USAT will timely pay all undisputed bills for Wholesale
      Agreement customers.

  (f) NNETO will use its best efforts to convert customers who
      are being provided services under the Wholesale Agreement
      to a service provided under the ICA within six months of
      approval of the Settlement Agreement by the Court.

  (g) USAT will withdraw, without prejudice, the state
      regulatory proceedings related to the ICA and Wholesale
      Agreement, and NNETO will withdraw its notice to
      disconnect services provided under the Wholesale
      Agreement.

  (h) NNETO agrees to release and discharge USAT from all claims
      against USAT arising under the Wholesale Agreement prior
      to November 6, 2009.

  (i) USAT agrees to release and discharge NNETO from all claims
      relating to the terms of the Wholesale Agreement for
      services rendered prior to November 6, 2009.  USAT will
      also release and discharge NNETO from any claims that
      NNETO violated the ICA by not converting customers under
      the Wholesale Agreement to services under the ICA prior to
      the Effective Date.

The Court will convene a hearing to consider the motion on
March 22, 2010.  Objections will be due by March 15.

                  About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- is an industry leading provider of
communications services to communities across the country.
FairPoint owns and operates local exchange companies in 18 states
offering advanced communications with a personal touch, including
local and long distance voice, data, Internet, television and
broadband services.  FairPoint is traded on the New York Stock
Exchange under the symbols FRP and FRP.BC.

Fairpoint and its affiliates filed for Chapter 11 on Oct. 26, 2009
(Bankr. S.D.N.Y. Case No. 09-16335).  Rothschild Inc. is acting as
financial advisor for the Company; AlixPartners, LLP as the
restructuring advisor; and Paul, Hastings, Janofsky & Walker LLP
is the Company's counsel.  BMC Group is claims and notice agent.

As of June 30, 2009, Fairpoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities, $2.91
billion in total long-term liabilities, and $1.23 million in total
stockholders' equity.

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


FAIRPOINT COMMUNICATIONS: Sets 2010 AIP Target Goals for Officers
-----------------------------------------------------------------
In a filing with the U.S. Securities and Exchange Commission,
Alfred Giammarino, vice president and chief financial officer of
FairPoint Communications, Inc., disclosed that on March 2, 2010,
the Compensation Committee of the Company's Board of Directors
established the 2010 target bonus opportunity percentages and
related performance goals for the Company's principal executive
officer, principal financial officer and other named executive
officers under the FairPoint Communications, Inc. 2008 Annual
Incentive Plan.

The Officers' 2010 performance goals for bonus awards include:

  (i) quarterly financial performance targets, which are
      calculated by subtracting Consolidated Capital
      Expenditures  from Consolidated EBITDAR, and which are
      based on an annual EBITDAR Minus CAPEX Target of $165.6
      million for the year ended December 31, 2010;

(ii) the Company achieving an average monthly target of 77.5%
      for customer service calls that are answered within 20
      seconds at the Company's consumer, business, collections
      and repair call centers in Maine, New Hampshire and
      Vermont;

(iii) the Company achieving an average monthly target of 12.0%
      for installation appointments in Northern New England that
      are not met for Company reasons; and

(iv) the Company achieving an average on-time target of 90.0%
      for repair appointments in Northern New England.

The same 2010 performance goals are applicable to all non-
represented employees of the Company except commissioned sales
employees.

David L. Hauser, the Company's Chief Executive Officer, is
eligible for a target bonus of up to 100% of his 2010 annual base
salary.  The target bonus for Mr. Hauser will be based on the
Company's ability to achieve, tested quarterly: (i) 67% of the
EBITDAR Minus CAPEX Targets; (ii) 11% of the Call Center Service
Target; (iii) 11% of the Installation Appointment Target; and
(iv) 11% of the Repair Appointment Target.

Peter G. Nixon, the Company's President, is eligible for a target
bonus of up to 50% of his 2010 annual base salary.  Alfred C.
Giammarino, the Company's Executive Vice President and Chief
Financial Officer, is eligible for a target bonus of up to 50% of
his 2010 annual base salary.  Shirley J. Linn, the Company's
Executive Vice President, General Counsel and Secretary, is
eligible for a target bonus of up to 50% of her 2010 annual base
salary.  Lisa R. Hood, the Company's Senior Vice President and
Controller, is eligible for a target bonus of up to 40% of her
2010 annual base salary.  The target bonus for each of these
officers will be based on the same criteria as set forth for Mr.
Hauser.

The Annual Incentive Plan previously provided for a single lump
sum payment of bonus awards, Mr. Giammarino said.  The
Compensation Committee has amended the Annual Incentive Plan to
provide for quarterly payments of bonus awards for 2010.  The
quarterly payments will be made to the Officers at 50% of the
quarterly target payment amount provided that the quarterly
targets are met, with true-up payments to be included in bonus
awards for the full 2010 year.

Any bonus awards are subject to the terms of the Annual Incentive
Plan, Mr. Giammarino pointed out.

FairPoint does not as a matter of course make public any
projections as to future performance or cash flows, Mr.
Giammarino stressed.  Accordingly, the EBITDAR Minus CAPEX
Targets are not indications of or expectations regarding future
performance and should not be relied upon as a guaranty,
representation or other assurance of the actual results that will
occur, he averred.

Moreover, FairPoint does not undertake any obligation to publicly
provide any information or guidance as to its performance
generally or with respect to Consolidated EBITDAR or CAPEX, Mr.
Giammarino clarified.

                  About FairPoint Communications

FairPoint Communications, Inc. (NYSE: FRP) --
http://www.fairpoint.com/-- is an industry leading provider of
communications services to communities across the country.
FairPoint owns and operates local exchange companies in 18 states
offering advanced communications with a personal touch, including
local and long distance voice, data, Internet, television and
broadband services.  FairPoint is traded on the New York Stock
Exchange under the symbols FRP and FRP.BC.

Fairpoint and its affiliates filed for Chapter 11 on Oct. 26, 2009
(Bankr. S.D.N.Y. Case No. 09-16335).  Rothschild Inc. is acting as
financial advisor for the Company; AlixPartners, LLP as the
restructuring advisor; and Paul, Hastings, Janofsky & Walker LLP
is the Company's counsel.  BMC Group is claims and notice agent.

As of June 30, 2009, Fairpoint reported $3.24 billion in total
assets, $321.41 million in total current liabilities, $2.91
billion in total long-term liabilities, and $1.23 million in total
stockholders' equity.

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


FIDDLER'S CREEK: Wants DIP Financing From Gulf Bay Capital
----------------------------------------------------------
Fiddler's Creek, LLC, et al., have sought permission from the U.S.
Bankruptcy Court for the Middle District of Florida to obtain
senior secured postpetition financing from Gulf Bay Capital, Inc.,
and use cash collateral.

The DIP lenders have committed to provide up to $25,000,000, with
initial advances pursuant to the interim order of up to a total of
$4,000,000.

Paul J. Battista, Esq., at Genovese Joblove & Battista, P.A., the
attorney for the Debtors, explain that the Debtors need the money
to fund their Chapter 11 case, pay suppliers and other parties.

The Debtor proposes to grant the DIP Lender senior secured priming
liens on, among other things, all encumbered and unencumbered real
property and improvements of the Debtors.

The Debtors assert that each prepetition secured lenders has an
equity cushion.  The Debtors assert, based upon current
appraisals, that the aggregate market value of the Debtors' real
property and improvements is approximately $312,000,000 --
including approximately $37 million of unencumbered real property
-- and the total amount of secured mortgage debt asserted by the
Prepetition Secured Lenders is approximately $160,000,000.  The
Debtors also propose to grant the Lender a super priority
administrative expense claim.

The DIP facility will mature 18 months from the date of the final
order of the Court approving the Loan.  The DIP facility will
incur interest at 12% per annum.  In the event of default, the
Interest Rate will be increased to 15%.

The DIP lien is subject to a carve-out for U.S. Trustee and Clerk
of Court fees, and up to $250,000 in fees payable to professional
employed in the Debtors' case and fees of the committee in
pursuing actions challenging the DIP Lenders' lien.

The Debtors will pay to DIP Lender a collateral monitoring fee of
$7,500 per month for so long as any obligations under the Loan are
outstanding or there is any remaining availability under the DIP
Loan.  The collateral monitoring fee may be paid from the proceeds
of the DIP Loan.

An extension fee equal to 0.5% of the then-outstanding principal
balance on the DIP Loan plus any amount not yet advanced under the
DIP Loan will be payable by the Debtors for each exercised
extension on or before the date of each such extension.  The
extension fee may be paid from the proceeds of the DIP Loan.

A copy of the commitment letter containing the terms and
conditions of the DIP financing is available for free at:

                  http://researcharchives.com/t/s?58d1

The Debtors have also asked for the Court's permission to use the
cash collateral of certain prepetition secured lenders, among them
are AmSouth nka Regions Bank, Fifth Third Bank, FC Golf, Ltd., and
Orion Bank, nka Iberia Bank.  Mr. Battista says that the Debtors
will use the cash collateral to provide additional liquidity.

Orion and FC Golf will be granted replacement liens and will have
the right to assert an administrative expense claim.  The Debtors
propose to provide Regions and Fifth Third with replacement liens
in the unencumbered property owned by the Debtors to adequately
protect Regions and Fifth Third in the event that the Debtors sell
certain portions of the Regions collateral and/or Fifth Third
collateral from and after the entry of the final order.  The
replacement liens will be junior only to the DIP Liens.

Iberiabank, Regions bank, and Tomen America, Inc., have objected
to the Debtors' request to use cash collateral.

Fiddler's Creek Community Development Districts #1 and #2 have
also objected to the Debtor's request to obtain DIP financing and
use cash collateral, saying that CDDs' priority liens weren't
disclosed in the Debtors' DIP financing motion.  CDD states that
the non-disclosure minimizes the need to provide sufficient
adequate protection to CDDs.

                       About Fiddler's Creek

Fiddler's Creek, LLC, et al., each own, operate and/or are
otherwise affiliated with the premier, fully integrated, master
planned residential community known as "Fiddler's Creek" in
southwestern Florida.  Fiddler's Creek is located in Collier
County, Florida, approximately 12 miles southeast of the City of
Naples and six miles north of Marco Island.  The Fiddler's Creek
development is comprised of nearly 4,000 zoned acres of prime land
in Naples, Florida, and is planned for and capable of
accommodating up to 6,000 residences upon projected build-out,
which is estimated to be in 2020.  Fiddler's Creek contains five
distinctive neighborhoods known as: Fiddler's Creek, Veneta,
Aviamar, Marsh Cove and Meadow Run.

Naples, Florida-based Fiddler's Creek, LLC, filed for Chapter 11
bankruptcy protection on February 23, 2010 (Bankr. M.D. Fla. Case
No. 10-03846).  The Company estimated assets and debts at
$100,000,001 to $500,000,000.


FORD MOTOR: Bank Debt Trades at 5% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Ford Motor Co. is
a borrower traded in the secondary market at 95.48 cents-on-the-
dollar during the week ended Friday, March 12, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 1.55 percentage
points from the previous week, The Journal relates.  The Company
pays 300 basis points above LIBOR to borrow under the facility.
The bank loan matures on Dec. 15, 2013, and carries Moody's Ba3
rating and Standard & Poor's B- rating.  The debt is one of the
biggest gainers and losers among 193 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles
across six continents.  With about 200,000 employees and about 90
plants worldwide, the company's automotive brands include Ford,
Lincoln, Mercury and Volvo.  The company provides financial
services through Ford Motor Credit Company.

At Sept. 30, 2009, the Company had US$203.106 billion in total
assets against US$210.376 billion in total liabilities.

On March 4, 2009, Ford deferred future interest payments on its
6.50% Junior Subordinated Convertible Debentures due January 15,
2032, beginning with the April 15, 2009 quarterly interest
payment.

As reported by the Troubled Company Reporter on Nov. 4, 2009,
Moody's Investors Service upgraded the senior unsecured rating of
Ford Motor Credit Company LLC to B3 from Caa1.  This follows
Moody's upgrade of Ford Motor Company's corporate family rating to
B3 from Caa1, with a stable outlook.  Ford Credit's long-term
ratings remain on review for further possible upgrade.

On Nov. 3, 2009, S&P raised the corporate credit ratings on Ford
Motor Co. and Ford Motor Credit Co. LLC to 'B-' from 'CCC+'.  Ford
Motor Co. carries a long-term issuer default rating of 'CCC', with
a positive outlook, from Fitch Ratings.


GENERAL MOTORS: New GM Amends By-Laws for Change of Fiscal Year
---------------------------------------------------------------
In a regulatory filing with the U.S. Securities and Exchange
Commission dated March 5, 2010, GM vice president, controller and
chief accounting officer Nick S. Cyprus disclosed that the
Company's Board of Directors amended on March 2, Sections 2.4 and
2.6 of its Bylaws regarding special meetings and the election of
chairman, effective immediately.

Section 2.4 has been amended to permit the lead director, if
appointed, to call special meetings of the Board.  Section 2.6 has
been amended to (i) permit the Board to elect an independent or a
non-independent director as Chairman in its discretion; (ii)
provide for the Board to designate an independent lead director in
the event the Chairman is not considered "Independent"; and (iii)
permit the lead director to preside at Board meetings in the
absence of the Chairman.

The GM Board has designated Patricia F. Russo, a member of the GM
Board since July 2009, as lead independent director, effective
immediately, Mr. Cyprus added.

A full-text copy of the Amended Sections of the By-Laws is
available at the SEC at http://ResearchArchives.com/t/s?5818

                        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)


GENTA INC: Inks Agreement For $25 Million Convertible Notes
-----------------------------------------------------------
Genta Incorporated has entered into definitive agreements with
institutional investors for a private placement of Convertible
Notes totaling $25 million in gross proceeds.  The transaction is
expected to close on or about March 10, 2010, subject to the
satisfaction of customary closing conditions.  Proceeds of the
financing will be used to ensure adequate follow-up to determine
overall survival results from Genta's recently completed Phase 3
trial of Genasense Injection plus chemotherapy as first-line
treatment of patients with advanced melanoma and to accelerate
development of the Company's pipeline products, among other uses.

"This financing provides sufficient funds for more than a year of
our expanded operations", said Dr. Raymond P. Warrell, Jr.,
Genta's Chief Executive Officer.  "Evaluation of a potentially
significant increase in overall survival from AGENDA represents an
especially high priority.  We are also initiating new Phase 2a and
2b clinical trials with tesetaxel that will extend its position as
the leading, development-stage, oral taxane.  Assuming these new
trials confirm earlier results, we envision that tesetaxel could
enter Phase 3 pivotal trials in 2011.  All of these potentially
transforming events are now enabled with the completion of this
transaction."

                     Summary of Financial Terms

The $25 million of Convertible Notes issued pursuant to this
transaction have a 3-year term and will be initially convertible
into shares of Genta common stock at a conversion rate of 100,000
shares of common stock for every $1,000.00 of principal that is
converted.  This conversion rate is subject to adjustment under
certain circumstances.  The Convertible Notes bear an annual
interest rate of 12%, payable semi-annually.  The Company has the
right to force conversion of the Convertible Notes if the closing
price of the Company's common stock equals or exceeds $0.25 for a
10-consecutive-trading-day period and certain other conditions are
met.  The Company has also issued Warrants to purchase up to
$10 million of additional Convertible Notes.  These Warrants
expire in the fall of 2011.

Twenty  million dollars of proceeds from this transaction will be
immediately available to the Company.  The remaining $5 million of
proceeds will be placed in a blocked account as collateral
security for $5 million in principal amount of the Convertible
Notes.  The security interest in these proceeds will be released,
and restrictions on the Company's use of the proceeds terminated,
if certain conditions are met.

In addition, outstanding purchase rights granted to investors in
prior financings will be modified to provide that, upon exercise
of such purchase rights, the investors will receive Convertible
Notes similar to those issued in this transaction.  The expiration
of these purchase rights will also be shortened to expire in the
Spring of 2011.  The Company has also extended the maturity of its
outstanding senior convertible notes, which otherwise have matured
in June 2010, to June 2011.  In return, holders of these notes
were issued 3-year warrants to purchase the same number of shares
of the Company's common stock issuable upon the conversion of
these notes.

                    About Genta Incorporated

Berkeley Heights, New Jersey-based Genta Incorporated is a
biopharmaceutical company engaged in pharmaceutical (drug)
research and development, its sole reportable segment.  The
Company is dedicated to the identification, development and
commercialization of novel drugs for the treatment of cancer and
related diseases.

As reported by the Troubled Company Reporter on December 7, 2009,
Genta has said its recurring losses and negative cash flows from
operations raise substantial doubt about its ability to continue
as a going concern.  With no further financing, management
projects that the Company will run out of funds in the second
quarter of 2010.

The Company has said it will require additional cash to maximize
its commercial opportunities and continue its clinical development
opportunities.  If the Company is unable to raise additional
funds, it could be required to reduce its spending plans, reduce
its workforce, license one or more of its products or technologies
that it would otherwise seek to commercialize itself, sell certain
assets, cease operations, or declare bankruptcy.

At September 30, 2009, the Company had total assets of $18,853,000
against total current liabilities of $12,013,000 and total long-
term liabilities of $3,346,000, resulting in stockholders' equity
of $3,494,000.


GMAC INC: Plan, Bail-Out Terms Questioned by Oversight Panel
------------------------------------------------------------
The Congressional Oversight Panel's March oversight report, "The
Unique Treatment of GMAC Under TARP," finds that Treasury's early
decisions in its rescue of GMAC resulted in missed opportunities
to increase accountability and better protect taxpayers.

In an unusual divided vote in late 2008, the Federal Reserve
approved GMAC's conversion to a bank holding company.  When as a
result of this decision GMAC was included in the government-run
stress tests a few months later, Treasury committed itself to a
full bailout strategy: taxpayers would provide any necessary new
capital identified by the stress tests that GMAC couldn't raise in
the private markets.  If GMAC had not been included in the stress
tests, Treasury might have had options other than committing new
public capital, such as orchestrating a bankruptcy or isolating
the auto financing business, which could have putt the company on
a stronger economic footing.

The Panel is also deeply concerned that Treasury has not required
GMAC to lay out a clear path to viability or a strategy for fully
repaying taxpayers.  Despite a $17.2 billion TARP investment,
there is still no clear business plan for GMAC.  Treasury has not
given due consideration, for example, to the possibility of
breaking apart GMAC and merging the auto finance part back into
GM, a step which would restore GM's financing operations to the
model generally shared by other automotive manufacturers.

A copy of the Report is available for free at:

           http://bankrupt.com/misc/cop-031110-report.pdf

                        About GMAC Inc

GMAC Inc. -- http://www.gmacfs.com/-- is a bank holding company
with 15 million customers worldwide.  As a global, independent
financial services institution, GMAC's diversified business
operations include automotive finance, mortgage operations,
insurance, commercial finance and online banking.

GMAC Inc. was founded in 1919 as a wholly owned subsidiary of
General Motors Corporation.  On November 30, 2006, General Motors
Corporation sold a 51% interest in the Company to FIM Holdings
LLC, an investment consortium led by Cerberus FIM Investors, LLC,
the sole managing member.  On December 24, 2008, the Board of
Governors of the Federal Reserve System approved the Company's
application to become a bank holding company under the Bank
Holding Company Act of 1956, as amended.  In connection with this
approval, GM and FIM Holdings  were required to significantly
reduce their voting equity ownership interests in GMAC.  These
reductions in ownership occurred in 2009.

Ally Bank, a unit of GMAC Financial Services, is an online U.S.
bank that provides an array of products, including online savings
accounts, money-market savings accounts and a variety of no
penalty certificates of deposit.  The bank was founded on three
core values: talking straight, doing what's right and being
obviously better than the competition.  Ally Bank's total assets
were $42.5 billion at the end of the
second quarter of 2009.

Headquartered in Minneapolis, Minnesota, Residential Capital LLC
-- http://www.rescapholdings.com/-- is the home mortgage unit
of GMAC Financial Services, which is in turn wholly owned by GMAC
LLC.  ResCap's balance sheet at June 30, 2009, showed total assets
of $22.00 billion, total liabilities of $20.95 billion, and total
stockholders equity of $1.05 billion.

                         *     *     *

For the 2009 full year, GMAC reported a net loss of $10.3 billion,
compared to net income of $1.9 billion in 2008.  GMAC reported
that as of Dec. 31, 2009, it had $172.306 billion in
total assets and total debt of $98.313 billion.

GMAC says there is substantial doubt about ResCap's ability to
continue as a going concern.  GMAC says that should ResCap file
for bankruptcy, its investment related to ResCap's
equity position would likely be reduced to zero.

In February 2010, Moody's Investors Service upgraded the senior
unsecured rating of GMAC and GMAC-supported subsidiaries to B3
from Ca, with a stable rating outlook.  At the end of January,
Standard & Poor's Ratings Services raised its long-term
counterparty credit rating on both GMAC and Residential Capital to
'B' from 'CCC'.


GOLDBERG-BAYMEADOWS: Taps GrayRobinson as Bankruptcy Counsel
------------------------------------------------------------
Goldberg-Baymeadows, LLC, has sought permission from the U.S.
Bankruptcy Court for the Middle District of Florida to employ
GrayRobinson, P.A., as bankruptcy counsel, nunc pro tunc to the
Petition Date.

GrayRobinson will:

     a. work out negotiations with its secured creditor;

     b. prepare and file a petition for reorganization under
        Chapter 11 of the U.S. Bankruptcy Code and prepare related
        initial pleadings; and

     c. pre-petition expenses in the Debtor's case, including
        filing fees.

Jason B. Burnett, a shareholder at GrayRobinson, says that the
firm will be paid based on the hourly rates of its personnel:

        Jason B. Burnett             $365
        Lee S. Haramis               $375
        Paige Wagner                 $150

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

Rancho Mirage, California-based Goldberg-Baymeadows, LLC, filed
for Chapter 11 bankruptcy protection on March 2, 2010 (Bankr. M.D.
Fla. Case No. 10-01637).  Jason B. Burnett, Esq., at GrayRobinson,
P.A., 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.


GRAY COMMS: Bank Debt Trades at 9% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Gray Television,
Inc., is a borrower traded in the secondary market at 90.65 cents-
on-the-dollar during the week ended Friday, March 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.95
percentage points from the previous week, The Journal relates.
The Company pays 150 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Dec. 21, 2014, and carries
Moody's Caa1 rating and Standard & Poor's CCC rating.  The debt is
one of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Formerly known as Gray Communications System, Atlanta, Georgia-
based Gray Television, Inc., is a television broadcast company.
Gray currently operates 36 television stations serving 30 markets.
Each of the stations are affiliated with either CBS (17 stations),
NBC (10 stations), ABC (8 stations) or FOX (1 station).  In
addition, Gray currently operates 38 digital second channels
including 1 ABC, 4 Fox, 7 CW, 16 MyNetworkTV and 1 Universal
Sports Network affiliates plus 8 local news/weather channels and 1
"independent" channel in certain of its existing markets.

Gray Television carries 'CCC' issuer credit ratings from Standard
& Poor's and 'Caa1' corporate family rating from Moody's.


GSI GROUP: Modifies Plan to Hike Recovery for Equity Holders
------------------------------------------------------------
GSI Group Inc. reached an agreement in principle as to
modifications of the Plan Support Agreement that the Company
entered into on November 19, 2009 and of certain terms of the
Company's Joint Plan of Reorganization, as filed with the U.S.
Bankruptcy Court in Wilmington, Delaware on November 20, 2009 and
modified on January 8, 2010.  The agreement in principle was
reached with the beneficial owners holding more than 88% of the
outstanding aggregate principal amount of the Company's 11% Senior
Notes due 2013 and representing more than 70% of all noteholders.

Most significantly, the Plan would be modified to increase the
recovery of existing equity holders from 18.6% of the Company's
post-consummation outstanding shares to 41.1%, which would be
issued in common shares.  In addition, existing equity holders
would receive one series of three-year warrants for a number of
common shares equal to 10% of 110% of the Company's post-
consummation outstanding shares, with a strike price of $2.50,
rather than two series of warrants each for 10% of 110% of the
Company's post-consummation outstanding shares, with a strike
price of $1.10 and $2.00 respectively.  Additionally, pursuant to
the modified Plan, the aforementioned noteholders have agreed to
reduce the treatment of their claims under the Senior Notes from a
right to receive 74.3% of the Company's post-consummation
outstanding shares in common shares to a right to receive new
convertible preferred stock of the Company, which, on an as-
converted basis, would represent approximately 53.8% of the
Company's post-consummation outstanding shares.  The Preferred
Shares would have a 1x liquidation preference and be mandatorily
redeemable after 8 years for cash or, if certain circumstances are
met, common shares.  The Preferred Shares would be voted on an as
converted basis together with the common shares. In addition,
pursuant to the modified Plan, the noteholders would receive new
secured notes in the amount of approximately $110,000,000,
increased from $95,000,000.  Under a modified Plan Support
Agreement, the noteholders would agree to support the
modifications to the Plan as summarized above. Lastly, the
recovery for the Company's wholly owned subsidiary, GSI Group
Limited on account of its unsecured note, would be reduced from a
right to receive 7.1% of the Company's post-consummation
outstanding shares in common shares to a right to receive
Preferred Shares, which, on an as-converted basis, would represent
approximately 5.1% of the Company's post-consummation outstanding
shares. GSI Limited would otherwise share ratably in the
distributions to the noteholders.

Commenting on the modified agreement with the noteholders, Dr.
Sergio Edelstein, Chief Executive Officer of the Company, stated
"We are very pleased to have reached an agreement with the
noteholders which would provide the Company's existing
shareholders with an increased recovery to reflect what the
Company believes are improvements to market conditions. At the
same time, we continue to believe that this agreement will allow
the Company to substantially reduce its debt and put us in a
stronger, financially healthier position for the future. The
Company remains operationally strong with ample cash on hand to
meet its operational needs and we hope that the proposed
modifications will entice all stakeholders to support the Plan as
modified and work with the Company towards plan confirmation and
emergence."

                         About GSI Group

GSI Group Inc. supplies precision technology to the global
medical, electronics, and industrial markets and semiconductor
systems.  GSI Group Inc.'s common shares are quoted on Pink Sheets
OTC Markets Inc.

The Company and two of its affiliates filed for Chapter 11
protection on Nov. 20, 2009 (Bankr. D. Del. Lead Case No. 09-
14110).  William R. Baldiga, Esq., at Brown Rudnick LLP,
represents the Debtors in their restructuring effort.  Mark
Minuti, Esq., at Saul Ewing LLP, as its local Counsel.  The
Debtors selected Garden City Group Inc. as their claims and notice
agent.  In their petition, the Debtors posted $555,000,000 in
total assets and $370,000,000 in total liabilities as of Nov. 6,
2009.


GTC BIOTHERAPEUTICS: Posts $27.9-Mil. Net Loss in Yr. Ended Jan 3
-----------------------------------------------------------------
On March 12, 2010, GTC Biotherapeutics, Inc., issued a press
release disclosing its financial results for the fourth quarter
and year ended January 3, 2010.  The total net loss for the fourth
quarter was $1.7 million, or $0.09 per share, compared with a net
loss of $6.2 million, or $0.60 per share, for the fourth quarter
of 2008.  The total net loss for 2009 was $27.9 million, or $2.18
per share, compared to a net loss of $22.7 million, or $2.31 per
share, for 2008.

Revenues were approximately $1.2 million for the current quarter,
compared to approximately $1.0 million for the fourth quarter of
2008.  Revenues for the year 2009 totaled $2.8 million compared to
$16.7 million for 2008.

"GTC has maintained strong progress in its core programs in
recombinant plasma proteins and follow on biologics", stated
Geoffrey Cox, Ph.D., Chairman, President and CEO of GTC
Biotherapeutics.  "We are now on the threshold of bringing two
additional programs into clinical development, rhFVIIa and rhAFP,
both of which address large market opportunities".

                          Cash Position

Cash at January 3, 2010 totaled $3.8 million, a $7.8 million
decrease compared to $11.6 million at December 28, 2008.  Last
month, GTC obtained an aggregate of $7 million of new funding from
LFB Biotechnologies in the form of a 4%, 36-month term loan with a
single payment of principal and interest at maturity.  With this
new funding from LFB and anticipated receipts from existing
partnering agreements, GTC projects that its cash resources will
be sufficient to support its operations to the end of the second
quarter of 2010, exclusive of future cash proceeds from potential
new partnering agreements.

                          Balance Sheet

The Company's balance sheet as of January 3, 2010, showed
$26.0 million in assets, $48.5 million of debts, and $2.2 million
of total redeemable convertible preferred stock, for a
stockholders' deficit of $24.7 million.

PricewaterhouseCoopers LLP, in Boston, 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 limited available funds as of January 3, 2010.

A full-text copy of the press release is available for free at:

                  http://researcharchives.com/t/s?58cf

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

                  http://researcharchives.com/t/s?58ce

                        About the Company

Based in Framingham, Massachusetts, GTC Biotherapeutics, Inc.
-- http://www.gtc-bio.com/--  develops, supplies and
commercializes therapeutic proteins produced through transgenic
animal technology.  ATryn(R), GTC's recombinant human
antithrombin, has been approved for use in the United States and
Europe.  ATryn(R) is the first and only therapeutic product
produced in transgenic animals to be approved anywhere in the
world.

In addition to ATryn(R), GTC is developing a portfolio of
recombinant human plasma proteins with known therapeutic
properties.  These proteins include recombinant forms of human
coagulation Factors VIIa and IX, which are being developed for the
treatment of patients with hemophilia, and recombinant alpha-
fetoprotein, which is being developed for the treatment of
myasthenia gravis and multiple sclerosis.


GUNNING CONSTRUCTION: Case Summary & 20 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Gunning Construction, Inc.
        9020 Liberia Avenue
        Manassas, VA 20110

Bankruptcy Case No.: 10-11897

Chapter 11 Petition Date: March 13, 2010

Court: United States Bankruptcy Court
       Eastern District of Virginia (Alexandria)

Judge: Stephen S. Mitchell

Debtor's Counsel: Ann E. Schmitt, Esq.
                  Culbert & Schmitt, PLLC
                  30C Catoctin Circle SE
                  Leesburg, VA 20175
                  Tel: (703) 737-6377
                  Fax: (703) 737-6370
                  Email: aschmitt@culbert-schmitt.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/vaeb10-11897.pdf

The petition was signed by John R. Gunning, president of the
Company.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                    Petition
  Debtor                               Case No.      Date
  ------                               --------      ----
Gunning Motors, Inc                    10-11896     3/13/10
  Assets: $1 million to $10 million
  Debts:  $1 million to $10 million


GWC DEVELOPMENT: Case Summary & 4 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: GWC Development Inc.
        310 8th Ave. W.
        Kirkland, WA 98033

Bankruptcy Case No.: 10-12697

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Karen A. Overstreet

Debtor's Counsel: Larry B. Feinstein, Esq.
                  Vortman & Feinstein
                  500 Union St Ste 500
                  Seattle, WA 98101
                  Tel: (206) 223-9595
                  Email: lbf@chutzpa.com

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

Estimated Debts: $100,001 to $500,000

According to the schedules, the Company has assets of $2,998,066,
and total debts of $427,250.

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/wawb10-12697.pdf

The petition was signed by Terry Defoor, owner, president of the
Company.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                    Petition
Debtor                                 Case No.      Date
------                                 --------      ----
GWC & Associates, Inc.                 10-12699    3/10/10
  Assets: $1 million to $10 million
  Debts:  $100,000 to $500,000


HAIGHTS CROSS: Emerges From Chapter 11
--------------------------------------
Haights Cross Communications, Inc., has successfully emerged from
Chapter 11 protection approximately 60 days after filing its
prepackaged plan of reorganization and related petitions. As
previously announced, the Plan was confirmed by the court on
February 24, 2010.

"Today marks a new beginning for the Company," said Paul J.
Crecca, HCC's Executive Vice Chairman and acting Chief Executive
Officer.  "In reaching this milestone, we have reduced our debt
and created a new capital structure that will better enable us to
invest in our business and build on our industry leadership.  We
are excited to move forward as a revitalized and reenergized
company."

                       About Haights Cross

Haights Cross Communications, Inc., develops and publishes
products for the kindergarten through grade 12 education and
public library markets.  Their products include state-specific
test preparation materials, skills assessment and intervention
books and unabridged audiobooks, and are sold primarily to schools
and public libraries.

The Company filed for Chapter 11 bankruptcy protection on
January 11, 2010 (Bankr. D. Del. Case No. 10-10062).  The
Company's affiliates -- Haights Cross Operating Company; Triumph
Learning, LLC; Recorded Books, LLC; and SNEP, LLC -- also filed
bankruptcy petitions.  Steven D. Pohl, Esq., and Tally Wiener,
Esq., at Brown Rudnick, assist the Debtors in their restructuring
efforts.  Daniel J. DeFranceschi, Esq., Paul N. Heath, Esq., and
Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A.,
are the co-counsel for the Debtors.  Houlihan Lokey is the
Debtors' financial advisor.

The Company listed $232,388,000 in assets and $432,741,000 in
liabilities as of June 30, 2009.


HARMONY PARK: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Harmony Park LLC
        2565 Shaker Village Drive
        North Bend, OH 45052

Bankruptcy  Case No.: 10-11566

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Southern District of Ohio (Cincinnati)

Judge: Jeffery P. Hopkins

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

                  Deepak K. Desai, Esq.
                  Santen & Hughes LPA
                  600 Vine Street, Suite 2700
                  Cincinnati, OH 45202
                  Tel: (513) 721-4450
                  Fax: (513) 721-0109
                  Email: dkd@santen-hughes.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 $12,000,000,
and total debts of $3,959,544.

The Company says it does not have unsecured creditors who are non
insiders when they filed their petition.

The petition was signed by Richard T. Brunsman Jr., the company's
authorized member.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                    Petition
Debtor                                 Case No.      Date
------                                 --------      ----
Richard T. Brunsman, Jr.               10-11371      3/05/10


HARRAH'S ENTERTAINMENT: HOC Bank Debt Trades at 102.48%
-------------------------------------------------------
Participations in a syndicated loan under which Harrah's Operating
Company, Inc., is a borrower traded in the secondary market at
102.48 cents-on-the-dollar during the week ended Friday, March 12,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 2.31 percentage points from the previous week, The Journal
relates.  The Company pays 750 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 23, 2016, and
carries Moody's Caa1 rating and Standard & Poor's B- rating.  The
debt is one of the biggest gainers and losers among 193 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

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.


HARTMARX CORP: Committee Can File Plan of Liquidation
-----------------------------------------------------
Chicago Business reports that Hartmarx Corp. is allowing its
Official Committee of Unsecured Creditors to file a Chapter 11
plan after the Company's exclusive plan filing right expires on
March 22, 2010.  The Company has pushed for permission to file its
own plan of liquidation.

The company said it is seeking a fifth extension to file a plan
until July 23, 2010, that would block any entity other than the
Committee from filing a plan, the report notes.  A hearing is set
for March 18, to consider the Company's request.

Based in Chicago, Illinois, Hartmarx Corporation --
http://www.hartmarx.com/-- produced and marketed business,
casual, and golf apparel under its own brands, which included Hart
Schaffner Marx, Hickey-Freeman, Palm Beach and Coppley, among
others.  A drop off in demand for tailored clothing led to poor
sales.  The company and 51 affiliates sought Chapter 11 bankruptcy
protection on January 23, 2009 (Bankr. N.D. Ill. Lead Case No. 09-
02046).  George N. Panagakis, Esq., Felicia Gerber Perlman, Esq.,
and Eric J. Howe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts.  When
the Debtors filed for bankruptcy, they listed $483,108,000 in
total assets and $261,220,000 in total debts as of August 31,
2008.


HAWKER BEECHCRAFT: Bank Debt Trades at 22% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which Hawker Beechcraft
is a borrower traded in the secondary market at 77.86 cents-on-
the-dollar during the week ended Friday, March 12, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 1.21 percentage
points from the previous week, The Journal relates.  The Company
pays 200 basis points above LIBOR to borrow under the facility.
The bank loan matures on March 26, 2014, and carries Moody's Caa1
rating and Standard & Poor's CCC+ rating.  The debt is one of the
biggest gainers and losers among 193 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

As reported by the Troubled Company Reporter on Nov. 20, 2009,
Moody's affirmed Hawker Beechcraft Acquisition Company LLC's Caa2
Corporate Family and Probability of Default ratings but lowered
the rating on the company's senior secured bank obligations to
Caa1 from B3 following announcement of plans to expand the size of
its secured term loan.  At the same time, ratings on Hawker
Beechcraft's senior unsecured cash-pay and PIK election notes
(Caa3) and subordinated notes (Ca) were affirmed.  The company's
Speculative Grade Liquidity rating was changed to SGL-4,
designating weak liquidity, but is expected to improve once final
amounts sourced from an incremental term loan are known.  The
outlook was revised to negative.

The actions follow several developments: an amendment to the
company's revolving credit facility reducing the size of the
commitment and revising financial covenants, a proposed increase
of $200 million to an existing $1,271 million term loan,
disclosure of some $0.7 billion of non-cash impairment and other
charges during the company's third quarter.

On Nov. 19, 2009, the TCR stated that Standard & Poor's assigned
its 'CCC+' issue-level rating to Hawker Beechcraft Acquisition Co.
LLC's proposed $200 million incremental term loan, the same as the
corporate credit rating on parent Hawker Beechcraft Inc., and a
'4' recovery rating, which indicates S&P's expectation of average
(30%-50%) recovery in a payment default scenario.  In addition,
S&P affirmed its 'CCC+' corporate credit rating on Wichita,
Kansas-based Hawker Beechcraft.  The company has about
$2.15 billion of debt.


HAWKER BEECHCRAFT: Bank Debt Trades at 6% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Hawker Beechcraft
is a borrower traded in the secondary market at 94.30 cents-on-
the-dollar during the week ended Friday, March 12, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 1.55 percentage
points from the previous week, The Journal relates.  The Company
pays 850 basis points above LIBOR to borrow under the facility.
The bank loan matures on March 26, 2014, and is not rated by
Moody's and Standard & Poor's.  The debt is one of the biggest
gainers and losers among 193 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

As reported by the Troubled Company Reporter on Nov. 20, 2009,
Moody's affirmed Hawker Beechcraft Acquisition Company LLC's Caa2
Corporate Family and Probability of Default ratings but lowered
the rating on the company's senior secured bank obligations to
Caa1 from B3 following announcement of plans to expand the size of
its secured term loan.  At the same time, ratings on Hawker
Beechcraft's senior unsecured cash-pay and PIK election notes
(Caa3) and subordinated notes (Ca) were affirmed.  The company's
Speculative Grade Liquidity rating was changed to SGL-4,
designating weak liquidity, but is expected to improve once final
amounts sourced from an incremental term loan are known.  The
outlook was revised to negative.

The actions follow several developments: an amendment to the
company's revolving credit facility reducing the size of the
commitment and revising financial covenants, a proposed increase
of $200 million to an existing $1,271 million term loan,
disclosure of some $0.7 billion of non-cash impairment and other
charges during the company's third quarter.

On Nov. 19, 2009, the TCR stated that Standard & Poor's assigned
its 'CCC+' issue-level rating to Hawker Beechcraft Acquisition Co.
LLC's proposed $200 million incremental term loan, the same as the
corporate credit rating on parent Hawker Beechcraft Inc., and a
'4' recovery rating, which indicates S&P's expectation of average
(30%-50%) recovery in a payment default scenario.  In addition,
S&P affirmed its 'CCC+' corporate credit rating on Wichita,
Kansas-based Hawker Beechcraft.  The company has about
$2.15 billion of debt.


HOMEBANC MORTGAGE: Chapter 7 Trustee Files 400 Preference Actions
-----------------------------------------------------------------
According to Lexology, Chapter 7 Trustee George Miller of HomeBanc
Mortgage filed about 400 preference actions against various
defendants in the U.S. Bankruptcy Court for the District of
Delaware.  A first pre-trial conference is set for April 21.

Headquartered in Atlanta, Georgia, HomeBanc Mortgage Corporation
-- http://www.homebanc.com/-- was a mortgage banking company
focused on originating primarily prime purchase money residential
mortgage loans in the Southeast United States.

HomeBanc Mortgage together with five affiliates filed for chapter
11 protection on Aug. 9, 2007 (Bankr. D. Del.  Case Nos. 07-11079
through 07-11084).  Joel A. Waite, Esq., at Young, Conaway,
Stargatt & Taylor was selected by the Debtors to represent them in
these cases.  The Official Committee of Unsecured Creditors
selected the firm Otterbourg, Steindler, Houston and Rosen, P.C.
as its counsel.  As reported in the Troubled Company Reporter, at
July 31, 2008, HomeBanc Mortgage Corporation and subsidiaries had
total assets of $16,850,000, total liabilities of $182,525,000,
minority interest of $64,000, and stockholders deficit of
$165,739,000.


HPT DEVELOPMENT: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor:  HPT Development Corporation
         8216 N. 62nd Place
         Paradise Valley, AZ 85253-2645

Bankruptcy Case No.: 10-06294

Chapter 11 Petition Date: March 10, 2010

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

Judge: Sarah Sharer Curley

Debtor's Counsel: D. Lamar Hawkins, Esq.
                  Aiken Schenk Hawkins & Ricciardi PC
                  4742 North 24th Street, Suite 100
                  Phoenix, AZ 85016
                  Tel: (602) 248-8203
                  Fax: (602) 248-8840
                  Email: dlh@ashrlaw.com

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

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

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


HUNTSMAN CORPORATION: Moody's Affirms 'B1' Corporate Family Rating
------------------------------------------------------------------
Moody's Investors Service affirmed the debt ratings of Huntsman
Corporation (B1 Corporate Family Rating) and Huntsman
International LLC, a subsidiary of Huntsman.  Moody's also
assigned a B3 rating to HI's proposed new $250 million senior
unsecured subordinated note and a Ba2 to a bank credit facility.
The proceeds of the new subordinated debt are expected to be used
to pay down a portion of HI's existing senior unsecured
subordinated debt that has been tendered for.  The outlook for
Huntsman's and HI's ratings is stable.

"The rating and stable outlook reflects Huntsman's strong
liquidity profile evidenced, in part, by the lack of sizeable near
term debt maturities until 2013," said Moody's analyst Bill Reed.
"The use of proposed note proceeds would reduce the level of debt
maturing in 2013 from about $570 million to $320 million.
However, if cash balances combined with unused credit facilities
become depleted before sales volumes recover, on a sustainable
basis, there would be negative pressure on the ratings."

The ratings take into account Huntsman's strong competitive
position in key businesses and significant competitive barriers,
including process know-how and the benefits of world scale
production capabilities.  The ratings are nevertheless tempered by
very high leverage at this point in the chemical cycle, exposure
to rising prices in some feedstocks, and weakness in many key end
markets, notably automotive and housing.  Huntsman's B1 CFR also
reflects the greater than anticipated decline in business
performance over the last year and the expectation for a slow
recovery in several of Huntsman's key end markets.  The decline is
evidenced by a 19% drop in adjusted 2009 EBITDA to $517 million.
This level of EBITDA results in debt/EBITDA of 9.4X however
annualizing the 2009 3rd quarter's $200 million of adjusted EBITDA
results in a leverage ratio of 6.6X.

The B1 rating also reflects Huntsman's announced plan to use the
cash proceeds of 2008 and 2009 legal settlements, net of
reductions in debt, including the committed revolver, to maintain
an initial liquidity balance of between $800 million to
$1 billion.  Huntsman's cash balances at the end of 2009 were some
$1.7 billion versus $657 million at the end of 2008.  Cash
balances are currently estimated to be $1.2 billion reflecting the
$382 million used to redeem the convertible note held by Apollo
along with seasonal and other recent cash outflows.  The B1 CFR is
also supported by evidence of quarter over quarter improvement in
the generation of EBITDA since the extremely weak quarters at the
end of 2008 and the beginning of 2009.  At the end of March 31,
2009 adjusted EBITDA was about $50 million.  For the last three
quarters of 2009 adjusted EBITDA was $96 million, $200 million and
$167 million, respectively.

The stable outlook reflects Moody's expectation that Huntsman's
substantial liquidity will enable the company to manage through
the current downturn.  Furthermore it incorporates Moody's current
expectation that improving EBITDA combined with excess cash on the
balance sheet will enable Huntsman to meet financial covenants as
demand returns to more normal volumes in 2010 and 2011.

These summarizes the ratings activity:

Rating Assigned:

Issuer: Huntsman International LLC

  -- Senior Secured Bank Credit Facility due 2014, Ba2 LGD2, 22%
  -- Senior Subordinated Notes, B3, LGD6, 91%

Ratings Affirmed:

Issuer: Huntsman Corporation

  -- Corporate Family Rating, B1

Issuer: Huntsman International LLC

  -- Corporate Family Rating, B1
  -- Probability of default, B1
  -- Senior Secured Bank Term Facility, Ba2 LGD2, 22% from 20%
  -- Senior Notes, B1, LGD4, 59% from 55%
  -- Senior Subordinated Notes, B3 LGD6, 91% from 90%

Moody's covenant office notes that HI's change of control put
option in the proposed notes would trigger whether the share
acquisition occurs at the parent or issuer level, provided that
the third party acquires at least 35% of the outstanding voting
capital stock, directly or indirectly, of HI.  The covenant carves
out certain Huntsman family members (currently at about 20% of
voting power) from the 35% threshold percentage requirement.  In
addition, a 35% voting share acquisition would not trigger the put
if a majority of the issuer's then current board of managers
approves the transaction, effectively excluding a "friendly"
transaction regardless of how many voting shares the third party
acquires.  Moody's also note that the covenant does not have a
"stock-for-stock" merger clause that would trigger the put if a
public company with a dispersed shareholder base were to acquire
the issuer or its parent.  Rather, the covenant is structured to
trigger in an LBO, which is less likely in the current market than
a strategic M&A transaction.

Moody's most recent announcement concerning the ratings was on
August 7, 2009, when Moody's lowered Huntsman's CFR to B1 from Ba3
given the expectation of very weak performance resulting from the
decline in the global economy.

Huntsman Corporation is a global manufacturer of differentiated
and commodity chemical products.  Huntsman's products are used in
a wide range of applications, including those in the adhesives,
aerospace, automotive, construction products, durable and non-
durable consumer products, electronics, medical, packaging, paints
and coatings, power generation, refining and synthetic fiber
industries.  Huntsman had revenues of $7.8 billion, down from
$10.2 billion in 2008, for the year ending December 31, 2009.


HUNTSMAN INTERNATIONAL: S&P Puts 'CCC+' Rating on $250 Mil. Notes
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'CCC+' issue-level
rating (two notches lower than the corporate credit rating) and
'6' recovery rating to Huntsman International LLC's (a wholly
owned subsidiary of Huntsman Corp.) proposed $250 million senior
subordinated notes, due 2020.  The '6' recovery rating indicates
S&P's expectation for negligible recovery (0%-10%) in the event of
a payment default.

S&P also assigned a 'B+' issue-level rating (one notch higher than
the corporate credit rating) and '2' recovery rating to the
company's proposed senior secured revolving credit facility.  The
'2' recovery rating indicates substantial recovery (70%-90%) in
the event of a payment default.  Ratings are based on preliminary
terms and conditions.

At the same time, S&P affirmed its ratings, including its 'B'
corporate credit ratings, on Huntsman Corp. and Huntsman
International LLC.

S&P expects the company to use proceeds from the proposed notes to
buyback existing debt.  Huntsman recently launched a tender offer
for the buyback of a portion of its ?400 million 6.875% senior
subordinated notes due 2013, and its ?135 million 7.5% senior
subordinated notes due 2015.

The company recently amended its existing credit facility to
extend the maturity on its existing $650 million revolving credit
facility, due August 2010, and reduce the size of the facility.
S&P expects the proposed revolving credit facility to have a
maximum size of $300 million, with a 2014 maturity.

"The ratings on Salt Lake City-based Huntsman Corp. and Huntsman
International LLC reflect the company's highly leveraged financial
profile, including S&P's expectation that total debt to EBITDA
will be in the mid-to-high single digit levels at year-end 2010,
and its satisfactory business profile," said Standard & Poor's
credit analyst Paul Kurias.

The stable outlook reflects S&P's expectation that the company
will maintain adequate liquidity, and that EBITDA will continue to
improve in 2010, resulting in improvement to leverage metrics.
The company's business strengths along with its manageable debt
maturity profile and liquidity support the current rating.
Nonetheless, S&P could lower its rating if earnings unexpectedly
weaken in 2010, with no prospect for improvement, or if liquidity
declines meaningfully to levels below $500 million on a sustained
basis.  Earnings could weaken unexpectedly if demand for the
company's products do not improve sufficiently, so that revenue
growth is lower than the low-teen percentage revenue growth
assumed in 2010, or if raw material prices increase rapidly so
that the company is unable to recover higher input costs.  On the
other hand, S&P could raise ratings modestly if greater-than-
expected revenue growth or operating margin expansion to the
double-digit percentage levels, results in improvement to the
ratio of funds from operations to debt to over 12% in 2010 with
prospects for continued stability.


ICAHN ENTERPRISES: Lionsgate Rejects Partial Tender Offer
----------------------------------------------------------
Lionsgate's Board of Directors, in consultation with its financial
and legal advisors, has determined, by unanimous vote of the
directors present, that the unsolicited partial tender offer from
Carl Icahn and certain of his affiliated entities (the "Icahn
Group") to purchase up to 13,164,420 common shares of Lionsgate
for $6.00 per share is financially inadequate and coercive and is
not in the best interests of Lionsgate and its shareholders and
other stakeholders.  The Board strongly recommends that Lionsgate
shareholders not tender their shares into the Icahn Group offer.

The basis for the Board's recommendation with respect to the Icahn
Group's unsolicited partial tender offer, which followed a
thorough review of the offer by a Special Committee of the Board,
is set forth in Lionsgate's Schedule 14D-9 filed with the
Securities and Exchange Commission (the "SEC") and directors'
circular filed with Canadian securities regulators.

"The Lionsgate Board of Directors strongly believes that the
unsolicited partial offer by the Icahn Group is inadequate from a
financial point of view and doesn't reflect the full value of
Lionsgate shares," said Lionsgate Co-Chairman and Chief Executive
Officer Jon Feltheimer.  "Lionsgate is a strong and diversified
Company with a focused strategy that we expect to generate far
greater value for shareholders.  We have built the Company piece
by piece over the past 10 years through a patient, consistent and
disciplined approach to both internal growth and external
acquisitions.  The Board and the Company's management is committed
to continuing to take all appropriate and necessary actions to
build value for Lionsgate's shareholders.  We are confident we can
better serve our shareholders by continuing to execute our
strategic business plan, and the acquisition of effective control
by the Icahn Group would significantly jeopardize that plan."

The reasons for Lionsgate Board's recommendation to reject the
Icahn Group's offer are detailed in the Schedule 14D-9 filing and
directors' circular (which will be mailed to Lionsgate
shareholders), and include:

The Icahn Group's offer is inadequate from a financial point of
view and does not reflect the full value of the Lionsgate shares.
The price offered by the Icahn Group does not reflect significant
value for Lionsgate that senior management, under the direction of
the Board, has built over the past 10 years.  Nor does it reflect
the significant additional value that the Board and senior
management believe would result from the continued implementation
of Lionsgate's business plan, including continued growth of
Lionsgate's theatrical, library and television businesses.
Additionally, the Icahn Group's offer price of $6.00 per share is
a 28.5% discount to the average price targets of Wall Street
analysts for Lionsgate shares as of March 4, 2010.

As the owner of 29.9% of Lionsgate's outstanding shares, the Icahn
Group would likely have the power to effectively veto certain
significant transactions and other matters requiring approval by a
special resolution of shareholders.  The Icahn Group has indicated
that it is making the offer "in the hope of having a greater
opportunity to participate in decisions regarding major
acquisitions and other matters that would affect Shareholders."
If the Icahn Group acquires the additional shares for which the
offer is made, it would have the ability to effectively "veto"
matters that need to be approved by a special resolution of
shareholders, which consist of several fundamental decisions
including certain acquisitions, business combinations and
reorganizations.

The purchase price offered by the Icahn Group represents an effort
to acquire control of Lionsgate without paying a control premium.
As noted above, if the offer is successfully completed, the Icahn
Group would acquire the ability, without having paid an
appropriate control premium, to effectively control a range of
significant decisions that may be made by Lionsgate, without
paying an appropriate control premium.  In effect, the Icahn Group
is seeking to acquire control of Lionsgate for a total offer price
of less than $80 million.

The acquisition by the Icahn Group of 29.9% of Lionsgate's
outstanding shares would constitute an event of default under
Lionsgate's credit facilities. U nder the terms of Lionsgate's
credit facilities, the Icahn Group's acquisition would constitute
an event of default that would permit the lenders to accelerate
the maturity of outstanding borrowings.  Furthermore, if such
event of default were not waived or cured, the holders of certain
outstanding notes issued by Lionsgate's wholly owned subsidiary
would have the right to accelerate the repayment of such notes.
As of March 8, 2010, $472.1 million in total principal amount of
such notes were outstanding and Lionsgate had borrowings of
approximately $44 million outstanding under the credit facilities.

The Icahn Group lack industry experience.  To the knowledge of
Lionsgate, the Icahn Group has limited experience in operating a
business in Lionsgate's industry.  Despite this, the Icahn Group
is seeking "a greater opportunity to participate in decisions
regarding major acquisitions and other matters that would affect
Shareholders", including through the formation of, and
representation on, a new "investment in films and television
programs" capital allocation committee of the Board.

The Icahn Group's "partial bid" is inherently coercive to other
shareholders.  The Icahn Group's offer forces shareholders to
decide whether to accept the offer, reject the offer, sell into
the market or maintain their position, without knowing the extent
to which other shareholders will accept the offer or the price at
which the shares will trade after the offer, the role that the
Icahn Group would play following the offer and the impact of that
role on the value of the shares.

The offer is highly conditional and creates substantial
uncertainty for Lionsgate's shareholders.  There are numerous
conditions to the offer, many of which provide the Icahn Group
with broad discretion to determine whether to proceed with the
offer.

To limit the potential adverse impact on Lionsgate, its
shareholders and other stakeholders of an accumulation of a
significant interest in the shares through a transaction like the
Icahn Group's partial bid or other means that would result in
coercive or unfair attempts to take over Lionsgate without
affording all shareholders the opportunity to sell all of their
shares for fair value, the Board has also determined that it is in
the best interests of Lionsgate, its shareholders and other
stakeholders to adopt a shareholder rights plan and has authorized
the issuance of one share purchase right for each outstanding
common share as of March 22, 2010 (and each share issued
thereafter), as provided in the rights plan.  A copy of the rights
plan will be available on the SEC's website, http://www.sec.gov,
and at http://www.sedar.com. The Board has authorized the
convening of a special meeting of shareholders on May 4, 2010 to
confirm the implementation of the rights plan.

The Schedule 14D-9 filing is available on the SEC's website,
www.sec.gov and the directors circular is available at
www.sedar.com. In addition, the Schedule 14D-9 filing, the
directors' circular, this press release and other materials
related to the Icahn Group's unsolicited partial offer are
available in the "Investor" section of Lionsgate's website at
www.lionsgate.com.  Copies will also be available at no charge by
writing to Lionsgate at 2700 Colorado Avenue, Suite 200, Santa
Monica, California 90404.

Morgan Stanley is serving as financial advisor to Lionsgate and
Heenan Blaikie LLP is serving as legal advisor.  Perella Weinberg
Partners LP is serving as financial advisor to the Special
Committee of the Lionsgate Board of Directors and Wachtell,
Lipton, Rosen & Katz is serving as U.S. legal advisor and Goodmans
LLP is serving as Canadian legal advisor.

                           About Lionsgate

Lionsgate is the leading next generation studio with a strong and
diversified presence in the production and distribution of motion
pictures, television programming, home entertainment, family
entertainment, video-on-demand and digitally delivered content.
The Company has built a strong television presence in production
of prime time cable and broadcast network series, distribution and
syndication of programming through Debmar-Mercury and an array of
channel assets.

                               About Ichan

Icahn Enterprises L.P., a master limited partnership, is a
diversified holding company engaged in five primary business
segments: Investment Management, Automotive, Metals, Real Estate
and Home Fashion.

In January 2010, Moody's Investors Service affirmed the Ba3
Corporate Family Rating of Icahn Enterprises L.P. and assigned Ba3
ratings to $2 billion of new senior unsecured notes being issued
by the company.  The new debt is being offered in two tranches due
in 2016 and 2018.  The outlook on the ratings remains negative.


INTELSAT JACKSON: Bank Debt Trades at 8% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Intelsat Jackson
Holdings Ltd. is a borrower traded in the secondary market at
91.65 cents-on-the-dollar during the week ended Friday, March 12,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 0.70 percentage points from the previous week, The Journal
relates.  The Company pays 300 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Feb. 5, 2014, and
carries Moody's B3 rating and Standard & Poor's B+ rating.  The
debt is one of the biggest gainers and losers among 193 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Intelsat Jackson Holdings is an indirect subsidiary of Intelsat
Ltd.  Headquartered in Penbroke, Bermuda, Intelsat is the largest
fixed satellite service operator in the world and is privately
held by financial investors.

As reported by the Troubled Company Reporter on Oct. 16, 2009,
Standard & Poor's assigned its 'B+' issue-level and '2' recovery
ratings to Intelsat Jackson Holdings Ltd.'s proposed $500 million
senior notes due 2019.  The '2'-recovery rating indicates
expectations for substantial (70%-90%) recovery in the event of a
payment default.  Intelsat Subsidiary Holding Co. Ltd also
guarantees the proposed notes.  Issue proceeds will be used to
purchase and retire about $400 million of the 11.5%/12.5% senior
paid-in-kind election notes due 2017 that reside at Intelsat
Bermuda Ltd. ($2.4 billion outstanding as of June 30, 2009) and
for general corporate purposes.  Ratings are based on preliminary
documentation and are subject to review of final documents.

In addition, S&P lowered the issue-level ratings on Intelsat Sub
Holdco's unsecured debt to 'B+' from 'BB-'.  This rating action
also applies to the debt at Intelsat Jackson Holdings that is
guaranteed by Sub Holdco.  The downgrade of about $3.7 billion in
debt is due to the increased debt that is guaranteed by Intelsat
Sub Holdco.  S&P revised the recovery rating on these notes to '2'
from '1'.  Also, S&P affirmed the 'B' corporate credit rating on
parent Intelsat Ltd.  The outlook is stable.

The TCR reported on Oct. 16, 2009, that Moody's assigned a B3
rating to Intelsat Jackson Holdings, Ltd.'s new $500 million 10-
year note issue.  The new notes are guaranteed by Intelsat
Jackson's indirect, wholly owned subsidiary, Intelsat Subsidiary
Holding Company, Ltd. and, as they rank equally with existing B3-
rated senior notes issued by Intelsat SubHoldCo (and with senior
notes at Intelsat SubHoldCo's sister company, Intelsat
Corporation), they are rated at the same B3 level.


INYX USA: Wins Reorganization Plan Approval
-------------------------------------------
Law360 reports that a bankruptcy judge has signed off on Inyx USA
Ltd.'s Chapter 11 plan now that it has reached a settlement with
its litigious prepetition secured lender.

Uunder the proposed plan, the Debtor's assets will be sold to
controlling shareholder Jack Kachkar in exchange for a waiver of
the US$1.2 million postpetition financing the Debtor's owe him.
The plan, however, proposes that an auction for the Debtor's
assets be held to see whether a higher offer than that of
Mr. Kachkar will surface.  Mr. Kachkar, pursuant to the plan, will
also pay the Debtor's US$420,000.

Unsecured creditors with US$5.5 million in claims will divide
what cash is left, Bloomberg relates.  The disclosure statement
doesn't say how much creditors can expect to receive.

In January 2008, the Hon. Kevin Gross rejected Mr. Kachkar's offer
to buy the Debtor's assets for 337,500 and to forgive any claims
against him and parent company Inyx Inc., which Mr. Kachkar
controls.  Judge Gross determined that the sale might not benefit
the creditors and might not be in good faith.  The judge noted the
lack of evidence about the value of the assets being sold and the
claims being waived.

The Chapter 11 trustee for affiliate Inyx USA Inc. determined that
Inyx Inc. and Mr. Kachkar cheated secured lender Westernbank
Puerto Rico out of US$142.8 million. Westernbank said that Inyx
Inc. obtained loans through false and fraudulent invoices.

                          About Inyx USA

Based in Manati, Puerto Rico, Inyx USA Ltd. operates a
pharmaceuticals production center that encompasses five buildings
totaling 140,000 square feet and extending over 9.5 acres.
Exaeris, Inc., located in Exton, Pennsylvania, focuses on the
strategic commercialization of niche or enhanced pharmaceutical
products, marketing and promotion activities.  Inyx USA and
Exaeris are wholly owned subsidiaries of Inyx, Inc. (OTC:IYXI) --
http://www.inyxinc.com/-- a specialty pharmaceutical company.

Inyx USA and Exaeris filed for chapter 11 protection on July 2,
2007 (Bankr. D. Del. Case Nos. 07-10887 and 07-10888).  Anthony M.
Saccullo, Esq., at Fox Rothschild, L.L.P., represents the Debtors.
When Inyx USA filed for protection from its creditors, it listed
estimated assets and debts between $1 million and $100 million.
Exaeris estimated its assets were less than $10,000 but debts were
between $1 million and $100 million.

In Court documents filed by Jack Kachkar, CEO of Inyx, Inc., Inyx
USA is indebted to Westernbank Puerto Rico in the approximate
amount of $35 million and secured by a first-priority lien in
substantially all of Inyx USA's assets.  Exaeris has in excess of
$5 million in prepetition unsecured obligations outstanding to
various creditors.

Ashton Pharmaceuticals and Inyx Pharma, the Debtors' UK
affiliates, were placed into an involuntary administration on
June 29, 2007.  Ernst & Young was appointed by the UK court as
administrators.


IRON BOWL - JEFF ROAD: Case Summary & 3 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Iron Bowl - Jeff Road, LLC
        100 Church Street, Suite 575
        Huntsville, AL 35801

Bankruptcy Case No.: 10-80970

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       Northern District Of Alabama (Decatur)

Judge: Jack Caddell

Debtor's Counsel: Kevin D. Heard, Esq.
                  Heard Ary, LLC
                  307 Clinton Ave. W. Ste 310
                  Huntsville, AL 35801
                  Tel: (256) 535-0817
                  Fax: (256) 535-0818
                  Email: kheard@heardlaw.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 $5,800,000,
and total debts of $3,525,000.

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/alnb10-80970.pdf

The petition was signed by Roy Thorson McCrary, Jr., president of
the Company.


IRVINE SENSORS: Issues 540,000 Shares to Investor
-------------------------------------------------
Irvine Sensors Corporation issued 540,000 shares of common stock
to an accredited institutional investor upon such investor's
conversion on February 10, 2010, of $216,000 of the stated value
of the Series A-1 10% Cumulative Convertible Preferred Stock of
the Company.  The Company also issued 697,000 shares of common
stock to the same investor upon such investor's conversion on
March 8, 2010, of $278,800 of the stated value of the Series A-1
Stock.  As a result of the issuance on March 8, 2010, the Company
has issued more than 5% of its outstanding shares of common stock
in unregistered transactions in the aggregate.

                      About Irvine Sensors

Irvine Sensors Corporation -- http://www.irvine-sensors.com/--
headquartered in Costa Mesa, California, is a vision systems
company engaged in the development and sale of miniaturized
infrared and electro-optical cameras, image processors and stacked
chip assemblies and sale of higher level systems incorporating
such products and research and development related to high density
electronics, miniaturized sensors, optical interconnection
technology, high speed network security, image processing and low-
power analog and mixed-signal integrated circuits for diverse
systems applications.

Optex Systems, Inc., a Texas corporation and a wholly owned
subsidiary of Irvine Sensors, on September 21, 2009, filed a
voluntary petition for relief under Chapter 7 of the United States
Bankruptcy Code in the United States Bankruptcy Court in
California.

Irvine Sensors reported assets of $5.23 million and $9.23 million,
resulting to a $4.0 million stockholders' deficit at the end of
the quarterly period ended December 27, 2009.

                          *     *     *

Grant Thornton LLP in Irvine, California, in a letter dated
January 9, 2009, pointed out that the Company incurred net losses
of $21.6 million, $22.1 million, and $8.4 million for the years
ended September 28, 2008, September 30, 2007, and October 1, 2006,
respectively, and the Company has a working capital deficit of
$16.1 million at September 28, 2008.  "These factors, among
others, raise substantial doubt about the company's ability to
continue as a going concern."


J MARTIN SMITH: Case Summary & 9 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: J Martin Smith Mortuary, LLC
        1173 E. Hudson Ave
        Columbus, OH 43211

Bankruptcy Case No.: 10-52731

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Southern District of Ohio (Columbus)

Judge: Charles M. Caldwell

Debtor's Counsel: Grady L Pettigrew, Jr., Esq.
                  Law Office of Grady L. Pettigrew, Jr.
                  502 South Third Street
                  Columbus, OH 43215-5702
                  Tel: (614) 224-1113
                  Fax: (614) 224-4949
                  Email: gpecf1@sbcglobal.net

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

Estimated Debts: $100,001 to $500,000

According to the schedules, the Company has assets of $2,712,025,
and total debts of $307,473.

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

                 http://bankrupt.com/misc/ohsb10-52731.pdf

The petition was signed by Veda Lenora Smith-Lindsey, president of
the Company.


JAMES KENNETH BOONSTRA: Voluntary Chapter 7 Case Summary
--------------------------------------------------------
Debtor: James Kenneth Boonstra
        116 Kualapa St.
        Lahaina, HI 96761

Bankruptcy Case No.: 10-00690

Involuntary Chapter 7 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       District of Hawaii (Honolulu)

Judge: Bankruptcy Judge Robert J. Faris

Debtor's Counsel: Ramon J. Ferrer, Esq.
                  Law Office of Ramon J. Ferrer
                  115 E. Lipoa Street, Ste. 106
                  Kihei, HI 96753
                  Tel: (808) 891-1414
                  Fax: (808) 891-1440
                  Email: ramonlawfirm@hotmail.com

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

Estimated Debts: $1,000,000 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. Boonstra.


JOHN MANEELY: Bank Debt Trades at 6% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which John Maneely
Company is a borrower traded in the secondary market at 94.46
cents-on-the-dollar during the week ended Friday, March 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.89
percentage points from the previous week, The Journal relates.
The Company pays 325 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Dec. 9, 2013, and carries
Moody's B3 rating and Standard & Poor's B rating.  The debt is one
of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Headquartered in Beachwood, Ohio, John Maneely Company
manufactures steel pipe, hollow structural steel, electrical
conduit products and tubular products at ten manufacturing
facilities in the U.S. and Canada.  The Company is number one or
two in its key product areas: HSS, standard pipe and electrical
conduit.  JMC also enjoys leading market positions in the
galvanized mechanical tube and fittings markets.  Its products are
sold principally to plumbing and electrical distributors.  JMC's
parent, DBO Holdings, Inc., is approximately 55% owned by the
Carlyle Partners IV, LP.


JONATHAN ALAN MCGRAW: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Joint Debtors: Jonathan Alan McGraw
                 dba Integrity Associates
                 aka Integrity Group
               Rheba Gay McGraw
               105 North Lawn Drive
               Sunset, SC 29685

Bankruptcy Case No.: 10-01768

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       District of South Carolina (Spartanburg)

Judge: Chief Judge John E. Waites

Debtors' Counsel: Robert H. Cooper, Esq.
                  3523 Pelham Road, Suite B
                  Greenville, SC 29615
                  Tel: (864) 271-9911
                  Email: bknotice@thecooperlawfirm.com

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

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

The Debtors did not file a list of their 20 largest unsecured
creditors when they filed their petition.

The petition was signed by the Joint Debtors.


KATE & ALLIES PROPERTY: Case Summary & 4 Largest Unsec. Creditors
-----------------------------------------------------------------
Debtor: Kate & Allies Property, LLC
        8601 E. Irish Hunter Trail
        Scottsdale, AZ 85258

Bankruptcy Case No.: 10-06363

Chapter 11 Petition Date: March 10, 2010

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

Judge: Redfield T. Baum Sr.

Debtor's Counsel: Benjamin Loren Dodge, Esq.
                  Dodge & Vega, PLC
                  4824 E. Baseline Rd, Ste 124
                  Mesa, AZ 85206
                  Tel: (480) 656-8333
                  Fax: (480) 656-8334
                  Email: ben@dodgevegalaw.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 $2,307,804,
and total debts of $2,784,859.

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/azb10-06363.pdf

The petition was signed by Glenn Bezuyen, manager of the Company.


LAS VEGAS SANDS: Bank Debt Trades at 10% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Las Vegas Sands
Corp. is a borrower traded in the secondary market at 89.67 cents-
on-the-dollar during the week ended Friday, March 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 2.02
percentage points from the previous week, The Journal relates.
The Company pays 175 basis points above LIBOR to borrow under the
facility.  The bank loan matures on May 1, 2014, and carries
Moody's B3 rating and Standard & Poor's B- rating.  The debt is
one of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Based in Las Vegas, Nevada, Las Vegas Sands Corp. (NYSE: LVS) --
http://www.lasvegassands.com/-- owns and operates The Venetian
Resort Hotel Casino, The Palazzo Resort Hotel Casino, and an expo
and convention center.  The company also owns and operates the
Sands Macao, the first Las Vegas-style casino in Macao, China.

As reported by the TCR on Aug. 4, 2009, Moody's placed Las Vegas
Sands Corp.'s ratings, including its 'B3' Corporate Family Rating,
on review for possible downgrade.  Moody's cited weak operating
results and heightened concern regarding the Company's ability to
maintain compliance with financial covenants, among other things.

The Company also carries 'B-' issuer credit ratings from Standard
& Poor's.


LEAP WIRELESS: Board OKs $1.5MM in Bonuses for Executives
---------------------------------------------------------
The Compensation Committee of the Board of Directors of Leap
Wireless International, Inc., approved certain compensation
matters for the named executive officers of the Company.

Also, on March 8, 2010, Glenn T. Umetsu, age 60, notified the
Company that he will retire as its Executive Vice President and
Chief Technical Officer, effective May 14, 2010.

The Compensation Committee approved individual performance bonus
payments to the Company's named executive officers in these
amounts: S. Douglas Hutcheson, $355,000; Walter Z. Berger,
$220,000; Albin F. Moschner, $220,000; Glenn T. Umetsu, $600,000;
and William D. Ingram, $105,000. These bonuses were paid based
upon the Compensation Committee's evaluation of each individual
officer's performance.  No bonuses were paid to the Company's
named executive officers under the Leap Wireless International,
Inc.  Executive Incentive Bonus Plan, which provides for bonuses
based on the Company's performance against financial and operating
metrics established by the Compensation Committee early each
calendar year.

Headquartered in San Diego, California, Leap Wireless
International, Inc. (NASDAQ: LEAP) -- http://www.leapwireless.com/
-- and its joint ventures provide wireless services in 34 states
and the District of Columbia and hold licenses in 35 of the top 50
U.S. markets.  Through its affordable, flat-rate service plans,
Cricket offers customers a choice of unlimited voice, text, high-
speed data and mobile Web services.

Leap spun out from Qualcomm Inc. in 1998 and expanded primarily
into rural markets.  It has customers in 34 states and annual
sales around $2.3 billion, making it the seventh-largest wireless
carrier in the U.S., according to The Wall Street Journal.

At December 31, 2009, the Company had total assets of
$5,380,697,000 against total liabilities of total liabilities of
$3,596,896,000 and redeemable noncontrolling interests of
$71,632,000, resulting in stockholder's equity of $1,712,169,000.

                          *     *     *

According to the Troubled Company Reporter on April 29, 2009,
Standard & Poor's Ratings Services revised its outlook on Leap
Wireless International Inc. to positive from stable.  At the same
time, S&P affirmed its ratings on the San Diego-based wireless
carrier, including the "B-" long-term corporate credit rating and
"B+" secured bank loan rating on subsidiary Cricket Communications
Inc.


LEHMAN BROTHERS: Liquidators Get 100% on China Real Estate Loan
---------------------------------------------------------------
The Liquidators of Lehman Brothers Commercial Corporation Asia
Limited (LBCCA) have recovered another significant real estate
loan, used to finance an A-Grade commercial property in Shanghai,
China.

The transaction represents a recovery of 100 percent of
Outstanding Principal Balance (OPB) and Outstanding Interest
Balances (OIB).

Doug Ferguson, Partner, KPMG China, said: "This is a very good
result for this particular position.  It has involved engaging
with the borrower in a co-operative, bi-lateral and constructive
manner, which is the Liquidators' preferred approach.  It also
reflects the quality of the Chinese assets in which Lehman
invested, as well as the conducive market environment in China."

To date, the realization of some US$270 million from the China
real estate portfolio represents a recovery of 94% of the
portfolio's September 2008 book value, generating significant
value for LBCCA's creditors.

This success has been achieved within 12 months from the
Liquidators' formal appointment by the Hong Kong Court, with an
average realization rate of 83% of outstanding principal balance.

Most of these China real estate transactions have involved a sale
of the loan to the original borrower or co-lender, often with
third-party refinancing involved, following extensive
negotiations.

LBCCA's real estate portfolio consists of senior and mezzanine
loans, debentures, convertible and equity positions to 44
counterparties.  These were mainly secured against hotel,
residential, retail and commercial properties and developments,
with the largest country and currency risk exposures being in
China, Thailand and Malaysia.

                      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: HKMA Reports Progress of Probe on Lehman Cases
---------------------------------------------------------------
The Hong Kong Monetary Authority (HKMA) announced that up to 4
March 2010, there were 12,993 complaint cases concerning Lehman-
Brothers-related investment products which have been resolved by a
settlement agreement reached under section 201 of the Securities
and Futures Ordinance and 1,212 cases through the enhanced
complaint-handling procedures required by the settlement
agreement.  Together with the 2,833 cases closed because
insufficient prima facie evidence of misconduct was found after
assessment or no sufficient grounds and evidence were found after
investigation, the handling of 17,038 complaints received have now
been completed.

Currently, 1,056 Lehman-Brothers-related complaint cases
(including minibond cases) are under disciplinary consideration
after detailed investigation by the HKMA.  Proposed disciplinary
notices are being prepared in respect of 757 such cases and
proposed disciplinary notices or decision notices have been
issued in respect of another 299 cases.  Adding these 1,056 cases
to those the handling of which has already been completed,
investigation work has finished for 84% of complaint cases
received.

                      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: Delays Filing of Annual Report on Form 10-K
------------------------------------------------------------
Lehman Brothers Holdings Inc. stated in an NT 10-K dated March 1,
2010 filed with the U.S. Securities and Exchange Commission that
it won't timely file its annual report on Form 10-K for the
fiscal year ended November 30, 2009, because:

  (1) of its Chapter 11 filing on September 15, 2008;

  (2) the commencement of various administrative or civil
      rehabilitation proceedings of subsidiaries comprising
      parts of LBHI's European and Asian businesses;

  (3) the sale since September 15, 2008, of LBHI's businesses;
      and

  (4) the completion on May 4, 2009, of the transfer to
      Neuberger Berman Group LLC of LBHI's investment management
      business.

LBHI said that as a result of these developments, it is unable to
complete the preparation of its consolidated financial statements
for such period in as much as it currently has neither access to
major components of its internal systems nor the ability to
prepare its consolidated financial statements and the remainder
of the report, with all the required disclosures, to have them
properly certified by its executive officers and have them
reviewed by its independent auditors.

LBHI said it is not in a position to file the annual report
within 15 days from the February 28, 2010 deadline.

                      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)


LESARRA ATTACHED HOMES: Case Summary & 19 Largest Unsec. Creditors
------------------------------------------------------------------
Debtor: Lesarra Attached Homes, L.P.
        8700 Technology Way
        Reno, NV 89521

Bankruptcy Case No.: 10-50808

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Gregg W. Zive

Debtor's Counsel: Stephen R. Harris, Esq.
                  Belding, Harris & Petroni, Ltd
                  417 W Plumb LN
                  Reno, NV 89509
                  Tel: (775) 786-7600
                  Fax: (775) 786-7764
                  Email: steve@renolaw.biz

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

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

The petition was signed by William D. Pennington II.

Debtor's List of 19 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
CJS Plumbing, Inc.         Goods/Services         $137,500

Brucia                     Contingent Price       $57,000
                           Assurance Liability

Tileco of California       Goods/Services         $85,000

Collins Drywall, Inc.      Goods/Services         $66,000

Anders                     Contingent Price       $57,000
                           Assurance Liability

Wyatt                      Contingent Price       $51,000
                           Assurance Liability

Anders                     Contingent Price       $57,000
                           Assurance Liability

APGAR                      Contingent Price       $42,000
                           Assurance Liability

Miller                     Contingent Price       $33,000
                           Assurance Liability

Media Directions           Goods/Services         $6,110

Raulino, Richard           Goods/Services         $4,200

J.O. Hazzard Subdivision   Goods/Services         $2,423

A & H Insurance, Inc.      Goods/Services         $977

AT&T                       Goods/Services         $764
Payment Center

Yellow Pages United        Goods/Services         $296

City of Reno               Tax Liability          $240
Revenue Division

COMCAST Cable              Goods/Services         $176
Revenue Division

Brownie's Digital Imaging  Goods/Services         $101

El Dorado County           Goods/Services         $142
Water Meter Fee

ISTA                       Goods/Services         $94


LEVEL 3 COMMS: Bank Debt Trades at 9% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Level 3
Communications, Inc., is a borrower traded in the secondary market
at 91.35 cents-on-the-dollar during the week ended Friday,
March 12, 2010, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 0.72 percentage points from the previous week, The
Journal relates.  The Company pays 225 basis points above LIBOR to
borrow under the facility.  The bank loan matures on March 1,
2014, and carries Moody's B1 rating and Standard & Poor's B+
rating.  The debt is one of the biggest gainers and losers among
193 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

Headquartered in Broomfield, Colorado, Level 3 Communications,
Inc., is a publicly traded international communications company
with one of the world's largest communications and Internet
backbones.

Level 3 Communications carries a 'Caa1' corporate family rating,
and 'Caa2' probability of default rating, with negative outlook
from Moody's, a 'B-' issuer default rating from Fitch, and 'B-'
long term issuer credit ratings from Standard & Poor's.


LOOKSMART: Gets NASDAQ Bid Price Deficiency Letter
---------------------------------------------------
LookSmart, Ltd., received a notice from the NASDAQ staff stating
that the Company has failed to comply with the $1.00 minimum bid
price required for continued listing of its common stock on the
NASDAQ Stock Market set forth in Listing Rule 5450(a).  The letter
also states that the Company has a grace period of 180 days to
regain compliance as set forth in Listing Rule 5810(c).  The
letter further states that if at anytime during this grace period
the bid price of the Company's security closes at $1.00 per share
or more for a minimum of ten consecutive business days, the Staff
will provide a written confirmation of compliance and this matter
will be closed.  In the event the Company does not regain
compliance prior to the expiration of the grace period, it will
receive written notification that its securities are subject to
delisting.

The Company is currently considering its options in order to
comply with the $1.00 minimum bid price rule within the
aforementioned grace period.

                       About LookSmart

LookSmart is an online search advertising network solutions
company that provides performance solutions for online search
advertisers and online publishers.  LookSmart offers advertisers
targeted, pay-per-click (PPC) search advertising and contextual
search advertising via its Advertiser Networks; and an Ad Center
platform for customizable private-label advertiser solutions for
online publishers.


LOST RIVERS: Chapter 9 Case Summary & 20 Largest Unsec. Creditors
-----------------------------------------------------------------
Debtor: Lost Rivers District Hospital
          aka Lost Rivers Medical Clinic
          aka Lost Rivers Medical Center
          aka Lost Rivers Hospice
          aka Mackay Clinic
          aka Lost Rivers Hospital
          aka Lost Rivers Living Center
        PO Box 145
        Arco, ID 83213-0145

Bankruptcy Case No.: 10-40344

Chapter 9 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       District of Idaho [LIVE] (Pocatello)

Debtor's Counsel: D Blair Clark, Esq.
                  1513 Tyrell Lane, Suite 130
                  Boise, ID 83706
                  Tel: (208) 475-2050
                  Fax: (208) 475-2055
                  Email: dbc@dbclarklaw.com

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

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

The petition was signed by Kim Dahlman, the company's
administrator.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
24-7 Professional          Business Expense       $20,185
c/o Munter Goodrum

Apria Heathcare            Business Expense       $5,293

Bingham Memorial Hospital  Business Expense       $5,487

BP Consulting, Inc.        Business Expense       $30,443
c/o Mountain West Bank

Cardinal Health Medical    Business Expense       $7,507
Products & Services

Diagnostic Imaging of      Business Expense       $143,963
Idaho                      -Radiology

Eide Bailly                Business Expense       $8,824

Hawley Troxell             Business Expense       $5,972
                           -Legal fees

Idaho Medical Imaging      Business Expense       $6,248

Idaho State Tax            Payroll taxes          $79,608
Commission

Internal Revenue Service   Payroll tax            $1,273,044
Special Procedures         arrearages
550 W. Fort Street
Boise, ID 83724

Moore Medical LLC          Business Expense       $7,053

Phillips                   Business Expense       $6,711

Portneuf Medical Center    Business Expense       $42,216
                           -Supplies

Professional Hospital      Business Expense       $37,885
Supply

Professional Solutions     Business Expense       $14,759

Regence Blue Shield of     Business Expense       $328,909
Idaho                      -insurance for
PO Box 1106                September to May 2010
Lewiston, ID 83501

Schmitt Enterprises        Physical Therapist     $20,959
Attn: Justin Schmitt       payroll

T-System, Inc.             Business Expense       $12,240
                           -Medical Records

V-1 Oil Company            Business Expense       $5,837


LYONDELL CHEMICAL: To Raise $3.25B to Finance Bankruptcy Exit
-------------------------------------------------------------
LyondellBasell said its wholly owned subsidiary, Lyondell Chemical
Company, plans to raise $3.250 billion of first priority debt,
including an offering of senior secured notes in a private
placement and borrowings under a senior term loan facility.

The net proceeds from the sale of the Notes, together with
borrowings under the Term Loan and a new European securitization
facility and proceeds from a $2.800 billion rights offering, would
be used upon emergence from bankruptcy to repay and replace
certain existing debt, including debtor-in-possession credit
facilities and an existing European securitization facility and to
make certain related payments.

The Notes and Term Loan will be senior secured obligations of
Lyondell Chemical and will be guaranteed by LyondellBasell
Industries N.V. (the new Dutch parent of the LyondellBasell group)
and, subject to certain exceptions, substantially all wholly owned
U.S. restricted subsidiaries of LyondellBasell Industries N.V.

The Notes and the guarantees of the Notes will not be registered
under the Securities Act of 1933, as amended, or any state
securities laws, and may not be offered or sold in the United
States or to U.S. persons absent registration or an applicable
exemption from the registration requirements.  The Notes will be
offered only to "qualified institutional buyers" in accordance
with Rule 144A under the Securities Act and to non-"U.S. persons"
in accordance with Regulation S under the Securities Act.

                      About Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  It is the global leader in
polyolefins technology, production and marketing; a pioneer in
propylene oxide and derivatives; and a significant producer of
fuels and refined products, including biofuels.  Through research
and development, LyondellBasell develops innovative materials and
technologies that deliver exceptional customer value and products
that improve quality of life for people around the world.
Headquartered in The Netherlands, LyondellBasell --
http://www.lyondellbasell.com/-- is privately owned by Access
Industries.

Basell AF and Lyondell Chemical Company merged operations in 2007
to form LyondellBasell Industries, the world's third largest
independent chemical company.  LyondellBasell became saddled with
debt as part of the US$12.7 billion merger.  On January 6, 2009,
LyondellBasell Industries' U.S. operations and one of its European
holding companies -- Basell Germany Holdings GmbH -- filed
voluntary petitions to reorganize under Chapter 11 of the U.S.
Bankruptcy Code to facilitate a restructuring of the company's
debts.  The case is In re Lyondell Chemical Company, et al.,
Bankr. S.D.N.Y. Lead Case No. 09-10023).  Seventy-nine Lyondell
entities, including Equistar Chemicals, LP, Lyondell Chemical
Company, Millennium Chemicals Inc., and Wyatt Industries, Inc.
filed for Chapter 11.  In May 2009, one of the cases was dismissed
-- Case No. 09-10068 -- because it is duplicative of Case No. 09-
10040 relating to Debtor Glidden Latin America Holdings.

The Hon. Robert E. Gerber presides over the case.  Deryck A.
Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in New York,
serves as the Debtors' bankruptcy counsel.  Evercore Partners
serves as financial advisors, and Alix Partners and its subsidiary
AP Services LLC, serves as restructuring advisors.  AlixPartners'
Kevin M. McShea acts as the Debtors' Chief Restructuring Officer.
Clifford Chance LLP serves as restructuring advisors to the
European entities.  Lyondell Chemical estimated that consolidated
assets total US$27.12 billion and debts total US$19.34 billion as
of the bankruptcy filing date.

Lyondell has obtained approximately US$8 billion in DIP financing
to fund continuing operations.  The DIP financing includes two
credit agreements: a US$6.5 billion term loan, which comprises a
US$3.25 billion in new loans and a US$3.25 billion roll-up of
existing loans; and a US$1.57 billion asset-backed lending
facility.

Luxembourg-based LyondellBasell Industries AF S.C.A. and another
affiliate were voluntarily added to Lyondell Chemical's
reorganization filing under Chapter 11 on April 24, 2009, in order
to seek protection against claims by certain financial and U.S.
trade creditors.  On May 8, 2009, LyondellBasell Industries added
13 non-operating entities to Lyondell Chemical Company's
reorganization filing under Chapter 11 of the U.S. Bankruptcy
Code.  All of the entities are U.S. companies and were added to
the original Chapter 11 filing for administrative purposes.  The
filings will have no impact on current business or operations as
none of the entities manufactures or sells products.

Bankruptcy Creditors' Service, Inc., publishes Lyondell Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Lyondell Chemical Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LYONDELL CHEMICAL: Obtains Approval for Key Agreements
------------------------------------------------------
LyondellBasell has three significant developments toward its
emergence from bankruptcy protection.  Specifically,
LyondellBasell:

* obtained bankruptcy court approval of its Third Amended
  Disclosure Statement, permitting LyondellBasell to begin
  soliciting votes on its Third Amended Plan of Reorganization;

* obtained bankruptcy court authorization for a settlement
  resolving various claims asserted against LyondellBasell's
  prepetition secured senior and bridge lenders and providing for
  treatment of its 2015 noteholders and Millennium noteholders;
  and

* obtained bankruptcy court approval of an Equity Commitment
  Agreement entered into on Dec. 11, 2009 with respect to a
  backstopped $2,800 million rights offering.

Holders of the majorities of the Company's prepetition senior and
bridge debt have agreed to support confirmation of the Plan, as
have the following groups: a majority of the holders of its 2015
Notes and its Millennium Notes, the Indenture Trustees for each of
the 2015 Notes and the Millennium Notes, and the Official
Committee of Unsecured Creditors.

With the approval of the Disclosure Statement, LyondellBasell can
commence solicitation of acceptances of the Plan.  It also can now
commence the rights offering to holders of its senior secured debt
who will be receiving rights under the Plan.

The Bankruptcy Court set the record date for being able to vote on
the Plan and to participate in the rights offering as March 11,
2010 and the deadline for voting on the Plan and exercising rights
as April 15, 2010.  The Confirmation Hearing of the Plan is
currently scheduled to commence on April 23, 2010.

                     About Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  It is the global leader in
polyolefins technology, production and marketing; a pioneer in
propylene oxide and derivatives; and a significant producer of
fuels and refined products, including biofuels.  Through research
and development, LyondellBasell develops innovative materials and
technologies that deliver exceptional customer value and products
that improve quality of life for people around the world.
Headquartered in The Netherlands, LyondellBasell --
http://www.lyondellbasell.com/-- is privately owned by Access
Industries.

Basell AF and Lyondell Chemical Company merged operations in 2007
to form LyondellBasell Industries, the world's third largest
independent chemical company.  LyondellBasell became saddled with
debt as part of the US$12.7 billion merger.  On January 6, 2009,
LyondellBasell Industries' U.S. operations and one of its European
holding companies -- Basell Germany Holdings GmbH -- filed
voluntary petitions to reorganize under Chapter 11 of the U.S.
Bankruptcy Code to facilitate a restructuring of the company's
debts.  The case is In re Lyondell Chemical Company, et al.,
Bankr. S.D.N.Y. Lead Case No. 09-10023).  Seventy-nine Lyondell
entities, including Equistar Chemicals, LP, Lyondell Chemical
Company, Millennium Chemicals Inc., and Wyatt Industries, Inc.
filed for Chapter 11.  In May 2009, one of the cases was dismissed
-- Case No. 09-10068 -- because it is duplicative of Case No. 09-
10040 relating to Debtor Glidden Latin America Holdings.

The Hon. Robert E. Gerber presides over the case.  Deryck A.
Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in New York,
serves as the Debtors' bankruptcy counsel.  Evercore Partners
serves as financial advisors, and Alix Partners and its subsidiary
AP Services LLC, serves as restructuring advisors.  AlixPartners'
Kevin M. McShea acts as the Debtors' Chief Restructuring Officer.
Clifford Chance LLP serves as restructuring advisors to the
European entities.  Lyondell Chemical estimated that consolidated
assets total US$27.12 billion and debts total US$19.34 billion as
of the bankruptcy filing date.

Lyondell has obtained approximately US$8 billion in DIP financing
to fund continuing operations.  The DIP financing includes two
credit agreements: a US$6.5 billion term loan, which comprises a
US$3.25 billion in new loans and a US$3.25 billion roll-up of
existing loans; and a US$1.57 billion asset-backed lending
facility.

Luxembourg-based LyondellBasell Industries AF S.C.A. and another
affiliate were voluntarily added to Lyondell Chemical's
reorganization filing under Chapter 11 on April 24, 2009, in order
to seek protection against claims by certain financial and U.S.
trade creditors.  On May 8, 2009, LyondellBasell Industries added
13 non-operating entities to Lyondell Chemical Company's
reorganization filing under Chapter 11 of the U.S. Bankruptcy
Code.  All of the entities are U.S. companies and were added to
the original Chapter 11 filing for administrative purposes.  The
filings will have no impact on current business or operations as
none of the entities manufactures or sells products.

Bankruptcy Creditors' Service, Inc., publishes Lyondell Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Lyondell Chemical Company and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


M-WISE INC: Swings to US$82,985 Profit in 2009
----------------------------------------------
m-Wise, Inc. filed its annual report on Form 10-K, showing net
income of $82,985 on $3.2 million of revenue for 2009, compared
with a net loss of $1.0 million on $2.8 million of revenue for
2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$1.2 million in assets and $1.6 million of debts, for a
stockholders' deficit of $425,788.

SF Partnership LLP, Chartered Accounts, in Toronto, Canada,
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.

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

                http://researcharchives.com/t/s?58ca

Based in Herzeliya Pituach, Israel, m-Wise, Inc. develops,
manufactures, markets and supports a software and hardware-based
wireless application platform marketed under the brand MOMA
platform.  The Company currently primarily operates through m-Wise
Ltd., its wholly owned subsidiary in Israel and its new subsidiary
in Brazil m-Wise Tecnologia LTDA.  The Company currently sells its
MOMA Platform directly, through potential channel partners and
through regional representatives in Taiwan, Philippines, Colombia,
Brazil and the United States.


MARIA ALCANTARA: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Joint Debtors: Maria Caridad Lucero Alcantara
               Ronald O. Alcantara
               576 Jayar Pl
               Hayward
               CA, CA 94544

Bankruptcy Case No.: 10-42759

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Northern District of California (Oakland)

Debtors' Counsel: Sydney Jay Hall, Esq.
                  Law Offices of Sydney Jay Hall
                  1308 Bayshore Hwy. #220
                  Burlingame, CA 94010
                  Tel: (650) 342-1830
                  Email: sydneyhalllawoffice@yahoo.com

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

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

The Debtors did not file a list of their 20 largest unsecured
creditors when they filed their petition.

The petition was signed by the Joint Debtors.


MATERA RIDGE: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------
Debtor:  Matera Ridge, LLC
         2698 Wind Feather Trail
         Reno, NV 89511

Bankruptcy Case No.: 10-50749

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Gregg W. Zive

Debtor's Counsel: Stephen R. Harris, Esq.
                  Belding, Harris & Petroni, LTD
                  417 W Plumb LN
                  Reno, NV 89509
                  Tel: (775) 786-7600
                  Fax: (775) 786-7764
                  Email: steve@renolaw.biz

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

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

The petition was signed by Hugh Hempel.

Debtor's List of 6 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Hempel, Hugh               Money Loaned           $1,504,108
2698 Wind Feather Trail
Reno, NV 89511

Granite Crest, Inc.        Money Loaned           $200,000

Rowley, Floyd              Money Loaned           $149,546

Tierra Development Group   Money Loaned           $100,000

Jones Vargas               Goods/Services         $52,721

Rosevear, Ann              Goods/Services         $5,000


MAGMA DESIGN: Posts $2.6 Million Net Loss in Q3 Ended January 31
----------------------------------------------------------------
Magma Design Automation, Inc., filed its quarterly report on Form
10-Q, showing a net loss of $2.6 million on $31.0 million of
revenue for the three months ended January 31, 2010, compared with
a net loss of $77.8 million on $30.7 million of revenue for the
same period ended February 1, 2009.

The Company's balance sheet as of January 31, 2010, showed
$123.3 million in assets and $130.4 million of debts, for a
stockholders' deficit of $7.1 million.

As of the Company's 2009 fiscal year end, the Company's auditors
issued an opinion raising substantial doubt about the Company's
ability to continue as a going concern.  Since fiscal 2004 the
Company has not achieved profitability for any fiscal year.  Since
inception, the Company has incurred aggregate consolidated net
losses of approximately $383.0 million, and may continue to incur
net losses for the foreseeable future.  In addition, the Company
has experienced a significant decline in revenues during fiscal
2009 and for the nine months ended January 31, 2010.  As of the
end of fiscal 2009, the Company did not have the financing in
place to pay the $49.9 million 2010 Notes maturing May 15, 2010.

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

               http://researcharchives.com/t/s?58b7

                        About Magma Design

Based in San Jose Calif., Magma Design Automation Inc. (Nasdaq:
LAVA) -- http://www.magma-da.com/-- provides electronic design
automation (EDA) software products and related services.  The
software enables chip designers to reduce the time it takes to
design and produce complex integrated circuits used in the
communications, computing, consumer electronics, networking and
semiconductor industries.  The Company's products are used in all
major phases of the chip development cycle, from initial design
through physical implementation.

As an EDA software provider, the Company generates substantially
all its revenue from the semiconductor and electronics industries.


MERIDIAN RESOURCE: Has Unsolicited Takeover Offer from Third Party
------------------------------------------------------------------
The Meridian Resource Corporation reported an update on events
related to the announced merger proposal between itself and Alta
Mesa Holding.

In the proxy statement filed by the Company on February 8, 2010,
Meridian reported that on February 4, 2010, its board of directors
received an unsolicited, non-binding preliminary indication of
interest from a third party.  The preliminary indication of
interest contemplated the acquisition of all of Meridian's common
stock at a purchase price of not less than $0.30 per share,
subject to, among other things, confirmatory due diligence.  The
Company entered into a confidentiality agreement with the third
party and provided extensive due diligence information to them.
On March 10, 2010, the third party notified us that they were not
prepared to make a binding offer that would provide greater value
to Meridian and its shareholders than the value that would be
provided under the Alta Mesa agreement.

On February 19, 2010, Meridian's board received another
unsolicited, non-binding preliminary indication of interest from
another third party.  The preliminary indication of interest
contemplated the acquisition of all of our common stock at a
purchase price of not less than $0.31 per share, subject to, among
other things, confirmatory due diligence.  The Company entered
into a confidentiality agreement with the third party and provided
extensive due diligence information to them. A t this time, the
board has not received a binding offer from this particular third
party. If a binding offer is submitted, the board will consider
all of its alternatives consistent with its fiduciary duties under
applicable law and subject to the terms and conditions of the
merger agreement wit Alta Mesa Holdings.

At this time our board continues to recommend that our
shareholders vote to adopt the merger agreement with Alta Mesa

                      About Meridian Resource

Based in Houston, Texas, The Meridian Resource Corporation
(NYSE:TMR) -- http://www.tmrc.com/-- is an independent oil and
natural gas company engaged in the exploration, exploitation,
acquisition and development of oil and natural gas in Louisiana,
Texas, and the Gulf of Mexico.  Meridian has access to an
extensive inventory of seismic data and, among independent
producers, is a leader in using 3-D seismic and other technologies
to analyze prospects, define risk, target and complete high-
potential wells for exploration and development. Meridian has a
field office in Weeks Island, Louisiana.

At September 30, 2009, the Company had $190,339,000 in total
assets, including $18,090,000 in total current assets, against
$120,634,000 in total current liabilities and $17,736,000 in asset
retirement obligations.

The Company noted that its default under the debt agreements,
which has been mitigated in the short term by certain forbearance
agreements, negatively impacts future cash flow and the Company's
access to credit or other forms of capital.  There is substantial
doubt as to the Company's ability to continue as a going concern
for a period longer than the next 12 months, the Company said.
It added that it might have to seek protection under federal
bankruptcy laws if it is unable to comply with the forbearance
agreements or if those agreements expire.


MGM MIRAGE: Has Deal with New Jersey Regulator on Borgata License
-----------------------------------------------------------------
MGM MIRAGE and Marina District Development Company, LLC, on Friday
entered into a Stipulation of Settlement with the State of New
Jersey, Department of Law and Public Safety, Division of Gaming
Enforcement.  The settlement is subject to approval by the New
Jersey Casino Control Commission, and a hearing on the settlement
for that purpose is expected to be held on March 17, 2010.

Approval of the settlement would conclude the reopened 2005 casino
license renewal hearing of MDDC, which holds the license for the
Borgata Hotel Casino & Spa(R), and the license would remain in
effect.  MDDC is wholly owned by Marina District Development
Holding Co., LLC.

Under the terms of the settlement agreement, the Company will
cause MAC CORP., a wholly owned, indirect subsidiary of the
Company, to place into a divestiture trust all of its 50%
ownership interest in MDDH and its title to certain leased real
property in Atlantic City and related leases -- Trust Property --
within five business days following approval of the settlement by
the CCC.  The purpose of the trust is to allow for the orderly
divestiture of the Company's indirect interest in the Borgata
Hotel Casino & Spa(R).  The trustee is to be independent of the
Company and will be appointed by the Company subject to being
acceptable to the DGE and approved by the CCC.

The settlement mandates the sale of the Trust Property within a
30-month period following the Trust Property being placed in
trust.  During the first 18 months, the Company will have the
right to direct the trustee to sell all or a part of the Trust
Property, subject to approval of the CCC, to any person who
satisfies the New Jersey Casino Control Act.

If the Company has not directed the trustee to sell all of the
Trust Property by the end of such 18-month period, the trustee
will be responsible for selling all then remaining Trust Property
for cash within 12 months, subject to the approval of the CCC.
Until all the Trust Property is sold and the trust terminates, the
trust may not distribute to the Company any funds, including
earnings, lease payments or sale proceeds received in connection
with the Trust Property.

Pursuant to the settlement, the trustee is to pay property taxes,
interest expenses, income taxes and certain other costs
attributable to the Trust Property so long as the trust maintains
a minimum cash balance.  Following the sale of all Trust Property
and approval by the CCC of a final accounting, all sale proceeds,
net of expenses, and any other amounts then in the trust are to be
distributed to the Company.

MGM MIRAGE previously said the DGE has recommended to the CCC that
MGM MIRAGE's joint venture partner in Macau be found unsuitable
and the Company be directed to disengage itself from any business
association with this partner.

"We have the utmost respect for the DGE but disagree with its
assessment of our partner in Macau," said Jim Murren, Chairman and
Chief Executive Officer.  "Regulators in other jurisdictions in
which we operate casinos have thoroughly considered this matter
and all of them have either determined that the relationship is
appropriate or have decided that further action is not necessary.
Since the DGE takes a different view, we believe that the best
course of action for our company and its shareholders is to settle
this matter and move forward with the compelling growth
opportunities we have in Macau."

MGM MIRAGE will be the sole economic beneficiary of the trust.
The company will be permitted to reapply for a New Jersey gaming
license beginning 30 months after the completion of the sale.

MGM MIRAGE owns the Borgata through a 50-50 joint venture with
Boyd Gaming Corporation whose interest is not affected by the
settlement.  "The Borgata is the most successful property in the
Atlantic City marketplace, and we expect there will be strong
interest in this valuable asset," said Mr. Murren.

                        About MGM MIRAGE

Headquartered in Las Vegas, Nevada, MGM MIRAGE (NYSE: MGM) --
http://www.mgmmirage.com/-- owns and operates 16 properties
located in Nevada, Mississippi and Michigan, and has 50%
investments in four other properties in Nevada, New Jersey,
Illinois and Macau.  CityCenter, an urban metropolis on the Las
Vegas Strip scheduled to open in late 2009, is a joint venture
between MGM MIRAGE and Infinity World Development Corp, a
subsidiary of Dubai World.  MGM MIRAGE Hospitality has entered
into management agreements for future casino and non-casino
resorts throughout the world.

At September 30, 2009, MGM MIRAGE had $21.7 billion in total
assets against total current liabilities of $1.15 billion,
deferred income taxes of $3.14 billion, long-term debt of
$12.9 billion, other long-term obligations of $221.70 million;
resulting in stockholders' equity of $4.29 billion.

                         *     *     *

As reported by the Troubled Company Reporter on March 11, 2010,
Moody's Investors Service upgraded MGM MIRAGE's Probability of
Default Rating to Caa2 from Caa3, and Corporate Family Rating to
Caa1 from Caa2.  Moody's also raised MGM's senior unsecured
ratings to Caa1 from Caa2, and senior subordinate ratings to Caa3
from Ca.  A B1 was assigned to MGM's proposed $845 million senior
secured notes due 2020.  The rating outlook is stable.

The TCR also said Standard & Poor's Ratings Services assigned its
issue-level and recovery ratings to Las Vegas-based MGM MIRAGE's
proposed $845 million senior secured notes due 2020.  The notes
were rated 'B' (two notches higher than the 'CCC+' corporate
credit rating on the company) with a recovery rating of '1',
indicating S&P's expectation of very high (90% to 100%) recovery
for noteholders in the event of a payment default.  The company
plans to use proceeds from the proposed offering to repay a
portion of its credit facilities in connection with the recently
executed amendment.  At the same time, S&P affirmed all of its
existing ratings on MGM MIRAGE, including the 'CCC+' corporate
credit rating.  The rating outlook is developing.

"The 'CCC+ corporate credit rating reflects MGM MIRAGE's
significant debt burden, S&P's expectation for continued declines
in cash flow generation in 2010, and the company's tight liquidity
position," said Standard & Poor's credit analyst Ben Bubeck.


MGM MIRAGE: CityCenter Contractor Asserts $492-Mil. Claim
---------------------------------------------------------
Troy E. McHenry, MGM MIRAGE Vice President for Legal Affairs, said
that on March 11, 2010, the primary general contractor for
CityCenter Holdings, LLC, a Delaware limited liability company --
which is a joint venture entity between subsidiaries of MGM
MIRAGE, a Delaware corporation, and Dubai World, a Dubai, United
Arab Emirates government decree entity -- delivered a notice of
its intent to file mechanics' liens on CityCenter with respect to
an alleged approximately $492 million claim against CityCenter.
Pursuant to the notice, the lien may be filed within 15 days
following the date of the notice.

According to Mr. McHenry, CityCenter believes that its actual
obligation to the general contractor is substantially less than
the amount claimed and that it is also entitled to significant
offsets against the claimed amount.  CityCenter intends to pursue
all of its rights and remedies against the general contractor,
including arbitration.  Nevertheless, because the general
contractor may be able to file liens on CityCenter for an amount
in excess of what CityCenter's fully drawn $1.8 billion senior
secured credit facility allowed, CityCenter has obtained a six-
month amendment to the credit facility that allows for additional
construction liens in an amount more than sufficient to cover the
threatened liens.

In addition, CityCenter believes that it has significant claims
against the general contractor related to its role in connection
with the Harmon Hotel construction, which construction was halted
by local building inspectors due to construction defects.  While
CityCenter's investigation into the general contractor's potential
liability regarding the Harmon Hotel is continuing, and there can
be no assurance at this point as to the ultimate outcome of any
action CityCenter may undertake, CityCenter believes that the
amount of its claim against the general contractor may exceed the
amount of CityCenter's estimated remaining liability to the
general contractor.

                        About MGM MIRAGE

Headquartered in Las Vegas, Nevada, MGM MIRAGE (NYSE: MGM) --
http://www.mgmmirage.com/-- owns and operates 16 properties
located in Nevada, Mississippi and Michigan, and has 50%
investments in four other properties in Nevada, New Jersey,
Illinois and Macau.  CityCenter, an urban metropolis on the Las
Vegas Strip scheduled to open in late 2009, is a joint venture
between MGM MIRAGE and Infinity World Development Corp, a
subsidiary of Dubai World.  MGM MIRAGE Hospitality has entered
into management agreements for future casino and non-casino
resorts throughout the world.

At September 30, 2009, MGM MIRAGE had $21.7 billion in total
assets against total current liabilities of $1.15 billion,
deferred income taxes of $3.14 billion, long-term debt of
$12.9 billion, other long-term obligations of $221.70 million;
resulting in stockholders' equity of $4.29 billion.

                         *     *     *

As reported by the Troubled Company Reporter on March 11, 2010,
Moody's Investors Service upgraded MGM MIRAGE's Probability of
Default Rating to Caa2 from Caa3, and Corporate Family Rating to
Caa1 from Caa2.  Moody's also raised MGM's senior unsecured
ratings to Caa1 from Caa2, and senior subordinate ratings to Caa3
from Ca.  A B1 was assigned to MGM's proposed $845 million senior
secured notes due 2020.  The rating outlook is stable.

The TCR also said Standard & Poor's Ratings Services assigned its
issue-level and recovery ratings to Las Vegas-based MGM MIRAGE's
proposed $845 million senior secured notes due 2020.  The notes
were rated 'B' (two notches higher than the 'CCC+' corporate
credit rating on the company) with a recovery rating of '1',
indicating S&P's expectation of very high (90% to 100%) recovery
for noteholders in the event of a payment default.  The company
plans to use proceeds from the proposed offering to repay a
portion of its credit facilities in connection with the recently
executed amendment.  At the same time, S&P affirmed all of its
existing ratings on MGM MIRAGE, including the 'CCC+' corporate
credit rating.  The rating outlook is developing.

"The 'CCC+ corporate credit rating reflects MGM MIRAGE's
significant debt burden, S&P's expectation for continued declines
in cash flow generation in 2010, and the company's tight liquidity
position," said Standard & Poor's credit analyst Ben Bubeck.


MICHAELS STORES: Bank Debt Trades at 8% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Michaels Stores,
Inc., is a borrower traded in the secondary market at 91.72 cents-
on-the-dollar during the week ended Friday, March 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.14
percentage points from the previous week, The Journal relates.
The Company pays 225 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Oct. 31, 2013, and carries
Moody's B3 rating and Standard & Poor's B rating.  The debt is one
of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Headquartered in Irving, Texas, Michaels Stores, Inc., is the
largest arts and crafts specialty retailer in North America.  As
of March 9, 2009, the Company operated 1,105 "Michaels" retail
stores in the United States and Canada and 161 Aaron Brothers
Stores.


MIDDLEBROOK PHARMA: Posts $15.8 Million Net Loss in Q4 2009
-----------------------------------------------------------
Medical News Base reports that MiddleBrook Pharmaceuticals, Inc.,
posted a net loss of $15.8 million on $2.6 million of revenue for
the fourth quarter ended December 31, 2009, compared to a net loss
of $11.6 million on $1.7 million of revenue for the same period of
2008.

Revenue for the full year of 2009 totaled $14.8 million, a 67.7%
increase compared to the prior year revenue of $8.8 million.  The
quarter-over-quarter and full-year increases in revenue are
primarily driven by sales of MOXATAG, which MiddleBrook launched
in March 2009.

Net loss was $62.3 million for 2009, compared to a net loss
attributable to MiddleBrook of $41.6 million for 2008.

                About MiddleBrook Pharmaceuticals

Westlake, Tex.-based MiddleBrook Pharmaceuticals, Inc. (Nasdaq:
MBRK) -- http://www.middlebrookpharma.com/-- is a pharmaceutical
company focused on developing and commercializing anti-infective
products that fulfill unmet medical needs.  MiddleBrook's
proprietary delivery technology--PULSYS--enables the pulsatile
delivery, or delivery in rapid bursts, of certain drugs.
MiddleBrook's near-term corporate strategy includes improving
dosing regimens and/or reducing frequency of dosing to enhance
patient dosing convenience and compliance for antibiotics that
have been used and trusted by physicians and patients for decades.
MiddleBrook currently markets KEFLEX, the immediate-release brand
of cephalexin, and MOXATAG--the first and only FDA-approved once-
daily amoxicillin.

At September 30, 2009, the Company's balance sheet showed
total assets of $55.2 million, total liabilities of $27.4 million,
and total stockholders' equity of $27.8 million.

                          *     *     *

In its Form 10-Q report for the quarter ended September 30, 2009,
the Company said that it has experienced significant operating
losses since its inception in 2000.  As of September 30, 2009, the
Company had an accumulated deficit of $283.5 million.  The Company
added that activities relating to the development and
commercialization of its products, together with its general and
administrative expenses, require significant investments and are
expected to continue to result in significant operating losses for
the foreseeable future.  In January 2008, the Company received
approval from the U.S. Food and Drug Administration to market its
lead product, MOXATAG, which it began to market on March 16, 2009.

"The Company's ability to continue as a going concern is dependent
upon its ability to successfully commercialize MOXATAG.  Although
the Company continues to pursue MOXATAG's commercialization, there
is no assurance that it will be successful."


MIDDLEBROOK PHARMA: Will Eliminate Field Sales Force; CEO Resigns
-----------------------------------------------------------------
Dow Jones Newswires' Joan E. Solsman, in a report in the Wall
Street Journal Friday, says that MiddleBrook Pharmaceuticals Inc.
disclosed it will eliminate its field sales force and
significantly reduce its corporate staff, as its chief executive
resigned.

According to Ms. Solsman, the Company has hired Broadpoint
Gleacher Securities Group Inc. (BPSG) to advise it on various
options, including a possible merger or sale.  The report said
that the Company's management has "substantial doubt" about its
ability to continue as a going concern through 2010.

As reported in the Troubled Company Reporter on December 7, 2009,
the Company said it would reduce the number of its sales
managers and field sales representatives by about one-third, to
approximately 145, and its corporate staff by approximately 20%.

The report says that the new job cuts and CEO John Thievon's
departure are effective Monday.  Chief Financial Officer David
Becker will be acting CEO.

                About MiddleBrook Pharmaceuticals

Westlake, Tex.-based MiddleBrook Pharmaceuticals, Inc. (Nasdaq:
MBRK) -- http://www.middlebrookpharma.com/-- is a pharmaceutical
company focused on developing and commercializing anti-infective
products that fulfill unmet medical needs.  MiddleBrook's
proprietary delivery technology--PULSYS--enables the pulsatile
delivery, or delivery in rapid bursts, of certain drugs.
MiddleBrook's near-term corporate strategy includes improving
dosing regimens and/or reducing frequency of dosing to enhance
patient dosing convenience and compliance for antibiotics that
have been used and trusted by physicians and patients for decades.
MiddleBrook currently markets KEFLEX, the immediate-release brand
of cephalexin, and MOXATAG--the first and only FDA-approved once-
daily amoxicillin.

At September 30, 2009, the Company's balance sheet showed
total assets of $55.2 million, total liabilities of $27.4 million,
and total stockholders' equity of $27.8 million.

                          *     *     *

In its Form 10-Q report for the quarter ended September 30, 2009,
the Company said that it has experienced significant operating
losses since its inception in 2000.  As of September 30, 2009, the
Company had an accumulated deficit of $283.5 million.  The Company
added that activities relating to the development and
commercialization of its products, together with its general and
administrative expenses, require significant investments and are
expected to continue to result in significant operating losses for
the foreseeable future.  In January 2008, the Company received
approval from the U.S. Food and Drug Administration to market its
lead product, MOXATAG, which it began to market on March 16, 2009.

"The Company's ability to continue as a going concern is dependent
upon its ability to successfully commercialize MOXATAG.  Although
the Company continues to pursue MOXATAG's commercialization, there
is no assurance that it will be successful."


MILESTONE SCIENTIFIC: Posts $1.5 Million Net Loss in 2009
---------------------------------------------------------
Milestone Scientific Inc. filed its annual report on Form 10-K,
showing a net loss of $1.5 million on $8.5 million of revenue for
2009, compared with a net loss of $1.2 million on $6.6 million of
revenue for 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$4.8 million in assets, $2.2 million of debts, and $2.6 million of
stockholders's equity.

Holtz Rubenstein Reminick LLP, in New York City, 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 since inception.

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

                   http://researcharchives.com/t/s?58b6

Piscataway, N.J.-based Milestone Scientific Inc. (OTC BB: MLSS)
-- http://www.milestonescientific.com/-- is engaged in pioneering
proprietary, highly innovative technological solutions for the
medical and dental markets.  Central to the Company's IP platform
and product development strategy is its patented CompuFlo(R)
technology for the improved and painless delivery of local
anesthetic.


MOMENTIVE PERFORMANCE: Bank Debt Trades at 7% Off
-------------------------------------------------
Participations in a syndicated loan under which Momentive
Performance Materials, Inc., is a borrower traded in the secondary
market at 92.54 cents-on-the-dollar during the week ended Friday,
March 12, 2010, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 0.85 percentage points from the previous week, The
Journal relates.  The Company pays 250 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Dec. 5, 2013,
and carries Moody's B1 rating and Standard & Poor's CCC+ rating.
The debt is one of the biggest gainers and losers among 193 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Momentive Performance Materials, Inc., is a producer of silicones
and silicone derivatives, and is engaged in the development and
manufacture of products derived from quartz and specialty
ceramics.  As of Dec. 31, 2008, the Company had 25 production
sites located worldwide, which allows it to produce the majority
of its products locally in the Americas, Europe and Asia.
Momentive's customers include companies in industries, such as
Procter & Gamble, 3M, Goodyear, Unilever, Saint Gobain, Motorola,
L'Oreal, BASF, The Home Depot and Lowe's.

As of June 28, 2009, Momentive had $3.41 billion in total assets
on $3.96 billion in total liabilities, resulting in $551.8 billion
in stockholders' deficit.

The Troubled Company Reporter said September 28, 2009, that
Standard & Poor's Ratings Services placed all its ratings on
Momentive Performance Materials and its subsidiaries on
CreditWatch with positive implications, including the 'CCC-'
corporate credit rating on Momentive Performance Materials.  S&P
believes it is likely that the waiver, together with improving
operating performance, significantly reduces the likelihood of a
near-term covenant breach.  Quarterly EBITDA has been climbing
steadily since reaching a low of about $15 million (as calculated
for bank covenant purposes) in the first quarter of 2009.  It was
$64 million in the second quarter, and management expects it to be
between $84 million and $94 million in the third quarter.


MOORE MARINE INC: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Moore Marine, Inc.
          aka Treasure Cove Marina, Inc.
        2555 NE Catawba Rd
        Port Clinton, OH 43452-3437

Bankruptcy Case No.: 10-31410

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       Northern District of Ohio (Toledo)

Judge: Richard L. Speer

Debtor's Counsel: Michael A. Steel, Esq.
                  Goldman & Rosen
                  11 S Forge St
                  Akron, OH 44304
                  Tel: (330) 376-8336
                  Fax: (330) 376-2522
                  Email: masteel@goldman-rosen.com

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

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

According to the schedules, the Company has assets of $3,134,020,
and total debts of $10,417,718.

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/ohnb10-31410.pdf

The petition was signed by John R. Moore III, director of the
Company.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                    Petition
  Debtor                               Case No.      Date
  ------                               --------      ----
John R. Moore IV                       08-11498     3/5/08
Cove West Properties (partnership)     08-18714   10/14/08
The Yacht Centre, Ltd.                 10-31411    3/10/10
  Assets: $1 million to $10 million
  Debts:  $1 million to $10 million


MOVIE GALLERY: May Close Most Twin Cities Store Locations
---------------------------------------------------------
According to Bob Geiger at Finance & Commerce, a Movie Gallery
employee said the Company may be planning to shut down all but two
of its Twin Cities video and game rental stores over the next two
months.  The video-rental business has been under pressure from
several fronts, including the $1-a-day kiosk DVD rental company
Redbox, movies-on-demand from cable providers and internet-based
competitors Netflix and Blockbuster Video, the report says.

                        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.


MPC COMPUTERS: Fights Gateway to Stave Off Chapter 7
----------------------------------------------------
MPC Computers LLC has objected to Gateway Inc.'s move to force it
into Chapter 7 liquidation so Gateway can collect on the more than
$15.9 million it is owed by various MPC entities, according to
Law360.

Headquartered in Nampa, Idaho, MPC Corporation --
http://www.mpccorp.com-- sells personal computer and provides
computer software and hardware to mid-size businesses,
government agencies and education organizations.  The Debtors
acquired Gateway Professional Divison from Gateway Inc. and
Gateway Technologies Inc. in October 1, 2007.  The company and
eight of its affiliates filed for Chapter 11 protection on
November 6, 2008 (Bankr. D. Del. Lead Case No. 08-12667).  Richard
A. Robinson, Esq., at Reed Smith LLP, represents the Debtors in
their restructuring efforts.  The Debtor selected Focus Management
Group USA, LLC, as its financial advisors.  The United States
Trustee appointed seven members to the Official Committee of
Unsecured Creditors on November 25, 2008.  Hahn & Hessen LLP
represents the Committee.  As of June 30, 2008, the Debtors have
$258.3 million in total assets and $277.8 million in total debts


NANCY HORNE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Nancy A. Horne
        8916 Tennis Court
        New Port Richey, FL 34655

Bankruptcy Case No.: 10-05599

Chapter 11 Petition Date: March 12, 2010

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

Debtor's Counsel: Miriam L. Sumpter Richard, Esq.
                  Fresh Start Law Firm, Inc.
                  505 East Jackson Street, Suite 303
                  Tampa, FL 33602
                  Tel: (813) 387-7724
                  Fax: (813) 387-7727
                  Email: miriam@freshstartlawfirm.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 $1,630,379,
and total debts of $1,668,810.

A full-text copy of Ms. Horne's petition, including a list of her
20 largest unsecured creditors, is available for free at:

                 http://bankrupt.com/misc/flmb10-05599.pdf

The petition was signed by Ms. Horne.


NAVISTAR INT'L: BlackRock Holds 6.65% of Common Stock
-----------------------------------------------------
BlackRock, Inc., disclosed that as of December 31, 2009, it may be
deemed to beneficially own 4,729,483 shares or roughly 6.65% of
the common stock of Navistar International Corp.

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

The Company's balance sheet at Jan. 31, 2010, showed total assets
of $9.12 billion and total liabilities of $10.74 billion, for a
stockholders' deficit of $1.62 billion.

                           *     *     *

According to the Troubled Company Reporter on March 11, 2010,
Moody's Investors Service has maintained its B1 long-term rating,
SGL-2 Speculative Grade Liquidity rating and stable outlook for
Navistar following the announcement that GE Capital will become
the preferred provider of retail financing in support of
Navistar's truck and bus sales in the US.  Moody's said Navistar's
captive finance operation, Navistar Financial Corporation, should
be relieved of the capital and liquidity burden necessary to
support new retail and lease originations.  In addition, GE
Capital's stronger balance sheet and superior capital market
access relative to that of NFC, should improve the availability of
the financing that can be offered to retail purchasers of Navistar
equipment.

According to the TCR on January 28, 2010, Standard & Poor's
Ratings Services said it has revised its outlook on Navistar and
related entities to stable from negative and affirmed its 'BB-'
corporate credit rating and other ratings.


NAVISTAR INT'L: Employee Trusts Hold 8.49% of Common Stock
----------------------------------------------------------
International Truck and Engine Corporation Non-Contributory
Retirement Plan Trust; International Truck and Engine Corporation
Retirement Plan for Salaried Employees Trust; and International
Truck and Engine Corporation Retiree Health Benefit Trust
disclosed that as of December 31, 2009, they may be deemed to
beneficially own in the aggregate 6,016,030 shares or roughly
8.49% of the common stock of Navistar International Corp.

Each of the International Non-Contributory Retirement Plan Trust
-- Hourly Trust; the International Retirement Plan for Salaried
Employees Trust -- Salaried Trust; and the International Retiree
Health Benefit Trust -- Health Benefit Trust -- is a funding trust
for an employee benefit plan sponsored by Navistar, Inc., a wholly
owned subsidiary of Navistar International Corporation.  The trust
agreements of the Hourly Trust and the Salaried Trust provide that
the trustee of the trust is only a directed trustee with respect
to employer stock held by the trusts, and that the Pension Fund
Investment Committee of Navistar -- whose members are for the most
part officers of the Company -- or an investment manager
designated by the PFIC, is to direct the trustee with respect to
the voting or disposition of employer securities.  The trust
agreement for the Health Benefit Trust provides that Navistar, or
an investment manager appointed by Navistar, is to direct the
trustee with respect to voting and disposition of employer
securities. Navistar has delegated authority for such matters to
the PFIC.  The Company stock held by the trusts is employer
securities under these provisions.

On May 8, 2006, the United States Trust Company, National
Association, was appointed as investment manager for each of the
trusts and was given discretionary authority regarding voting and
disposition of the stock.  Bank of America Corporation bought US
Trust and served as successor in interest to US Trust's business.
Effective May 1, 2009, BAC completed the sale of its Special
Fiduciary Services business to Evercore Partners, at which time
Evercore became the successor trustee of certain trusts
administered by SFS.  The PFIC and the Company have the power to
revoke or change the appointment of Evercore and therefore
reacquire the voting and dispositive control over the Company's
stock.  For this reason the PFIC, the Company or Navistar might be
considered "beneficial owners" of the Company's stock.

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

The Company's balance sheet at Jan. 31, 2010, showed total assets
of $9.12 billion and total liabilities of $10.74 billion, for a
stockholders' deficit of $1.62 billion.

                           *     *     *

According to the Troubled Company Reporter on March 11, 2010,
Moody's Investors Service has maintained its B1 long-term rating,
SGL-2 Speculative Grade Liquidity rating and stable outlook for
Navistar following the announcement that GE Capital will become
the preferred provider of retail financing in support of
Navistar's truck and bus sales in the US.  Moody's said Navistar's
captive finance operation, Navistar Financial Corporation, should
be relieved of the capital and liquidity burden necessary to
support new retail and lease originations.  In addition, GE
Capital's stronger balance sheet and superior capital market
access relative to that of NFC, should improve the availability of
the financing that can be offered to retail purchasers of Navistar
equipment.

According to the TCR on January 28, 2010, Standard & Poor's
Ratings Services said it has revised its outlook on Navistar and
related entities to stable from negative and affirmed its 'BB-'
corporate credit rating and other ratings.


NAVISTAR INT'L: Evercore Trust Holds 8.51% of Common Stock
----------------------------------------------------------
Evercore Trust Company, N.A., in New York disclosed that as of
December 31, 2009, it may be deemed to beneficially own 6,016,030
shares or roughly 8.51% of the common stock of Navistar
International Corp.

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

The Company's balance sheet at Jan. 31, 2010, showed total assets
of $9.12 billion and total liabilities of $10.74 billion, for a
stockholders' deficit of $1.62 billion.

                           *     *     *

According to the Troubled Company Reporter on March 11, 2010,
Moody's Investors Service has maintained its B1 long-term rating,
SGL-2 Speculative Grade Liquidity rating and stable outlook for
Navistar following the announcement that GE Capital will become
the preferred provider of retail financing in support of
Navistar's truck and bus sales in the US.  Moody's said Navistar's
captive finance operation, Navistar Financial Corporation, should
be relieved of the capital and liquidity burden necessary to
support new retail and lease originations.  In addition, GE
Capital's stronger balance sheet and superior capital market
access relative to that of NFC, should improve the availability of
the financing that can be offered to retail purchasers of Navistar
equipment.

According to the TCR on January 28, 2010, Standard & Poor's
Ratings Services said it has revised its outlook on Navistar and
related entities to stable from negative and affirmed its 'BB-'
corporate credit rating and other ratings.


NAVISTAR INT'L: FMR, Fidelity Hold 14.969% of Common Stock
----------------------------------------------------------
FMR LLC and Edward C. Johnson 3d disclosed that as of December 31,
2009, they may be deemed to beneficially own 10,585,914 shares or
roughly 14.969% of the common stock of Navistar International
Corp.

Fidelity Management & Research Company, a wholly owned subsidiary
of FMR LLC, is the beneficial owner of 8,173,417 shares or 11.558%
of the Common Stock outstanding of Navistar as a result of acting
as investment adviser to various investment companies.

Edward C. Johnson 3d and FMR LLC, through its control of Fidelity,
and the funds each has sole power to dispose of the 8,173,417
shares owned by the Funds.

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

The Company's balance sheet at Jan. 31, 2010, showed total assets
of $9.12 billion and total liabilities of $10.74 billion, for a
stockholders' deficit of $1.62 billion.

                           *     *     *

According to the Troubled Company Reporter on March 11, 2010,
Moody's Investors Service has maintained its B1 long-term rating,
SGL-2 Speculative Grade Liquidity rating and stable outlook for
Navistar following the announcement that GE Capital will become
the preferred provider of retail financing in support of
Navistar's truck and bus sales in the US.  Moody's said Navistar's
captive finance operation, Navistar Financial Corporation, should
be relieved of the capital and liquidity burden necessary to
support new retail and lease originations.  In addition, GE
Capital's stronger balance sheet and superior capital market
access relative to that of NFC, should improve the availability of
the financing that can be offered to retail purchasers of Navistar
equipment.

According to the TCR on January 28, 2010, Standard & Poor's
Ratings Services said it has revised its outlook on Navistar and
related entities to stable from negative and affirmed its 'BB-'
corporate credit rating and other ratings.


NAVISTAR INT'L: GE Capital to Finance Retail Truck and Bus Sales
----------------------------------------------------------------
General Electric, Navistar International Corporation, and Navistar
Financial Corporation, a wholly owned subsidiary of Navistar, last
week announced an expanded financing relationship under which GE
Capital will become Navistar's preferred provider of retail
financing solutions to support sales of Navistar trucks and school
buses in the U.S.  The agreement takes effect immediately under
the Navistar Capital name, with full implementation in 90 days.

GE Capital has successfully provided dealer financing to Navistar
in Canada since 1986.

A.J. Cederoth, Executive Vice President and CFO of Navistar, said,
"We are very pleased to be expanding our long relationship with GE
Capital. This new alliance will enable Navistar to better support
our dealer network and invest more capital in what we do best,
which is to manufacture and sell top-quality products."

David Johanneson, President and CEO of Navistar Financial, said,
"GE Capital is a leader in transportation financing and has been a
great financing partner to our dealers in Canada for over 20
years. We look forward to working closely with GE Capital to
provide a broader and more competitive set of financing options to
customers in the U.S."

Approximately 60 NFC employees who support NFC's retail business
will join GE Capital to manage this program.

"GE Capital's financial strength, combined with the NFC team's
experience and integration with distribution, will result in a
significantly stronger ability to help finance the sale of
Navistar products," said Bill McMenamin, Vice President, CFO and
Treasurer, NFC.

Dan Henson, CEO, GE Capital, Americas, said, "As GE Capital has
been working to become a more focused financial services company,
we also continue to invest and grow our core businesses. Our
expanded financing relationship with Navistar, a leader in the
transportation industry, enables us to apply our nearly 40 years'
experience in transportation finance and in supporting leading
OEMs and dealer networks across the U. S. economy to help drive
Navistar's growth."

JP Morgan Securities Inc. served as advisor to Navistar on this
transaction.

Navistar said in a regulatory filing it does not expect the
agreement to have a material impact on its future results of
operations.

As reported by the Troubled Company Reporter on Friday, Navistar
has reported financial results for its fiscal first quarter, ended
January 31, 2010.  The Company's net income for the first quarter
was $17 million, equal to $0.23 of diluted earnings per share in
the face of lower revenues due in part to lower first-quarter
military revenues.  The first-quarter results reflect improved
commercial performance and efforts to control costs over
manufacturing expenses while the company continued its investments
in the development of its 2010-emissions compliant engines.

A full-text copy of the Company's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?5877

A full-text copy of the Company's first quarter presentation is
available at no charge at http://ResearchArchives.com/t/s?58aa

                          About Navistar

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

The Company's balance sheet at Jan. 31, 2010, showed total assets
of $9.12 billion and total liabilities of $10.74 billion, for a
stockholders' deficit of $1.62 billion.

                           *     *     *

According to the Troubled Company Reporter on March 11, 2010,
Moody's Investors Service has maintained its B1 long-term rating,
SGL-2 Speculative Grade Liquidity rating and stable outlook for
Navistar following the announcement that GE Capital will become
the preferred provider of retail financing in support of
Navistar's truck and bus sales in the US.  Moody's said Navistar's
captive finance operation, Navistar Financial Corporation, should
be relieved of the capital and liquidity burden necessary to
support new retail and lease originations.  In addition, GE
Capital's stronger balance sheet and superior capital market
access relative to that of NFC, should improve the availability of
the financing that can be offered to retail purchasers of Navistar
equipment.

According to the TCR on January 28, 2010, Standard & Poor's
Ratings Services said it has revised its outlook on Navistar and
related entities to stable from negative and affirmed its 'BB-'
corporate credit rating and other ratings.


NAVISTAR INT'L: OppenheimerFunds Holds 11.12% of Common Stock
-------------------------------------------------------------
New York-based OppenheimerFunds Inc., disclosed that as of
December 31, 2009, it may be deemed to beneficially own 7,874,119
shares or roughly 11.12% of the common stock of Navistar
International Corp.

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

The Company's balance sheet at Jan. 31, 2010, showed total assets
of $9.12 billion and total liabilities of $10.74 billion, for a
stockholders' deficit of $1.62 billion.

                           *     *     *

According to the Troubled Company Reporter on March 11, 2010,
Moody's Investors Service has maintained its B1 long-term rating,
SGL-2 Speculative Grade Liquidity rating and stable outlook for
Navistar following the announcement that GE Capital will become
the preferred provider of retail financing in support of
Navistar's truck and bus sales in the US.  Moody's said Navistar's
captive finance operation, Navistar Financial Corporation, should
be relieved of the capital and liquidity burden necessary to
support new retail and lease originations.  In addition, GE
Capital's stronger balance sheet and superior capital market
access relative to that of NFC, should improve the availability of
the financing that can be offered to retail purchasers of Navistar
equipment.

According to the TCR on January 28, 2010, Standard & Poor's
Ratings Services said it has revised its outlook on Navistar and
related entities to stable from negative and affirmed its 'BB-'
corporate credit rating and other ratings.


NECESSARY OIL: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Necessary Oil Company
        1300 Georgia Avenue
        Bristol, TN 37620

Bankruptcy Case No.: 10-50579

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Greeneville)

Judge: Marcia Phillips Parsons

Debtor's Counsel: Fred M. Leonard, Esq.
                  27 Sixth Street
                  Bristol, TN 37620
                  Tel: (423) 968-3151
                  Email: fredmleonard@earthlink.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 $2,275,288,
and total debts of $4,407,379.

A list of the Company's 20 largest unsecured creditors is
available for free at:

                 http://bankrupt.com/misc/tneb10-50579.pdf

The petition was signed by Mark E. Byington, president of the
company.


NEIMAN MARCUS: Bank Debt Trades at 7% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Neiman Marcus
Group, Inc., is a borrower traded in the secondary market at 93.04
cents-on-the-dollar during the week ended Friday, March 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 2.46
percentage points from the previous week, The Journal relates.
The Company pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on April 6, 2013, and carries
Moody's B3 rating and Standard & Poor's BB- rating.  The debt is
one of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Neiman Marcus Group, Inc., headquartered in Dallas, Texas,
operates 40 Neiman Marcus stores, 2 Bergdorf Goodman stores, 27
clearance centers, and a direct business.  Total revenues are
about $3.9 billion.

The Company carries a 'Caa1' Corporate Family Rating and 'Caa1'
Probability of Default Rating from Moody's Investors Service.


NEXSTAR BROADCASTING: Amalgamated Gadget Holds 7.8% of Shares
-------------------------------------------------------------
Amalgamated Gadget, L.P., disclosed that as of December 31, 2009,
it may be deemed to beneficially own in the aggregate 1,174,524
shares or roughly 7.8% of the common stock of Nexstar Broadcasting
Group, Inc.  The shares were purchased by Amalgamated Gadget, L.P.
for and on behalf of R2 Investments, LDC, pursuant to an
Investment Management Agreement.  Amalgamated Gadget has sole
voting and dispositive power over the shares and R2 has no
beneficial ownership of such shares.

                    About Nexstar Broadcasting

Irving, Texas-based Nexstar Broadcasting Group, Inc. (NASDAQ:
NXST) currently owns, operates, programs or provides sales and
other services to 62 television stations in 34 markets in the
states of Illinois, Indiana, Maryland, Missouri, Montana, Texas,
Pennsylvania, Louisiana, Arkansas, Alabama, New York, Rhode
Island, Utah and Florida.  Nexstar's television station group
includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW
and reaches roughly 13 million viewers or roughly 11.5% of all
U.S. television households.

As of September 30, 2009, the Company had $628,055,000 in total
assets against $805,667,000 in total liabilities, resulting in
stockholders' deficit of $177,612,000.

                           *     *     *

According to the Troubled Company Reporter on Oct. 21, 2009,
Standard & Poor's Ratings Services said it affirmed its ratings on
Irving, Texas-based TV broadcaster Nexstar Broadcasting Group
Inc., including the 'B-' corporate credit rating.  The rating
outlook is stable.


NEXSTAR BROADCASTING: Bank of America Holds 6.4% of Shares
----------------------------------------------------------
Bank of America Corporation and Merrill Lynch, Pierce, Fenner &
Smith, Inc., disclosed that as of December 31, 2009, they may be
deemed to beneficially own in the aggregate 957,076 shares or
roughly 6.4% of the common stock of Nexstar Broadcasting Group,
Inc.

                    About Nexstar Broadcasting

Irving, Texas-based Nexstar Broadcasting Group, Inc. (NASDAQ:
NXST) currently owns, operates, programs or provides sales and
other services to 62 television stations in 34 markets in the
states of Illinois, Indiana, Maryland, Missouri, Montana, Texas,
Pennsylvania, Louisiana, Arkansas, Alabama, New York, Rhode
Island, Utah and Florida.  Nexstar's television station group
includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW
and reaches roughly 13 million viewers or roughly 11.5% of all
U.S. television households.

As of September 30, 2009, the Company had $628,055,000 in total
assets against $805,667,000 in total liabilities, resulting in
stockholders' deficit of $177,612,000.

                           *     *     *

According to the Troubled Company Reporter on Oct. 21, 2009,
Standard & Poor's Ratings Services said it affirmed its ratings on
Irving, Texas-based TV broadcaster Nexstar Broadcasting Group
Inc., including the 'B-' corporate credit rating.  The rating
outlook is stable.


NEXSTAR BROADCASTING: Renaissance Tech Holds 5.83% of Common Stock
------------------------------------------------------------------
Renaissance Technologies LLC and James H. Simons disclosed that as
of December 31, 2009, they may be deemed to beneficially own in
the aggregate 875,900 shares or roughly 5.83% of the common stock
of Nexstar Broadcasting Group, Inc.

                    About Nexstar Broadcasting

Irving, Texas-based Nexstar Broadcasting Group, Inc. (NASDAQ:
NXST) currently owns, operates, programs or provides sales and
other services to 62 television stations in 34 markets in the
states of Illinois, Indiana, Maryland, Missouri, Montana, Texas,
Pennsylvania, Louisiana, Arkansas, Alabama, New York, Rhode
Island, Utah and Florida.  Nexstar's television station group
includes affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW
and reaches roughly 13 million viewers or roughly 11.5% of all
U.S. television households.

As of September 30, 2009, the Company had $628,055,000 in total
assets against $805,667,000 in total liabilities, resulting in
stockholders' deficit of $177,612,000.

                           *     *     *

According to the Troubled Company Reporter on Oct. 21, 2009,
Standard & Poor's Ratings Services said it affirmed its ratings on
Irving, Texas-based TV broadcaster Nexstar Broadcasting Group
Inc., including the 'B-' corporate credit rating.  The rating
outlook is stable.


NIELSEN COMPANY: Bank Debt Trades at 5% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which The Nielsen
Company B.V. is a borrower traded in the secondary market at 95.17
cents-on-the-dollar during the week ended Friday, March 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.17
percentage points from the previous week, The Journal relates.
The Company pays 225 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Aug. 9, 2013, and carries
Moody's Ba3 rating and Standard & Poor's B+ rating.  The debt is
one of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Active in approximately 100 countries, with headquarters in
Haarlem, The Netherlands and New York, USA, The Nielsen Company
B.V. is a global information and media company.

Nielsen Company carries a 'B2' long term corporate family rating
from Moody's, 'B' issuer credit rating from standard & Poor's, and
'B' issuer default rating from Fitch.


NIGHTHAWK RADIOLOGY: Moody's Cuts Corp. Family Rating to 'B2'
-------------------------------------------------------------
Moody's Investors Service lowered the ratings of NightHawk
Radiology Holdings Inc., including the corporate family and first
lien term loan ratings to B2 from B1.  At the same time, the
probability of default rating was affirmed at B2.  The ratings
outlook remains negative.  Concurrently, the speculative grade
liquidity rating was lowered to SGL-3 from SGL-2.

The downgrade to B2 reflects heightened competitive pressures in
NightHawk's core afterhours radiology business that will likely
continue to pressure pricing and result in lower margins and
weaker credit metrics.  In Moody's opinion, pricing is likely to
be further pressured due to intense competition throughout the
year, which is likely to further strain the company's
profitability and erode expected cushion under the financial
leverage covenant.

Additionally, the ratings incorporate Moody's expectation that the
company's liquidity position should remain adequate during the
near term, as evidenced by positive free cash flow generation and
unrestricted cash balances in excess of $25 million.  The ratings
favorably reflect likely continuation in improved read volumes on
a year over year basis and ongoing efforts to retain customers.

The negative outlook reflects the uncertainty regarding the St.
Paul's Radiology dispute.  There is little tolerance at existing
ratings for any negative variance from current expected
performance levels (i.e. greater than expected price erosion
and/or decline in credit statistics).  The negative outlook also
incorporates the company's high cost structure and business risks.

These rating actions were taken:

  -- Corporate family rating, downgraded to B2 from B1;

  -- Probability of default rating, affirmed at B2;

  -- $100 million ($78 million outstanding) First Lien Term Loan,
     due July 10, 2014, downgraded to B2 (LGD3, 45%) from B1
     (LGD3, 31%);

  -- Speculative grade liquidity rating, downgraded to SGL-3 from
     SGL-2

The last rating action on NightHawk was on April 17, 2009, when
Moody's changed the company's outlook to negative from stable and
affirmed the B1 corporate family rating.

NightHawk, headquartered in Scottsdale, Arizona, is the leading
provider of professional and business solutions to radiology
groups and hospitals in the United States.  For 2009, the company
reported revenues of approximately $163 million.


NORTEL NETWORKS: Fights UK Fund Trustee's Bid to Sidestep Stay
--------------------------------------------------------------
Law360 reports that Nortel Networks Corp. is fighting renewed
attempts by the trustee of its U.K. pension fund to participate in
a U.K. pension administrative proceeding over a claimed $3 billion
shortfall in the fund despite the automatic stay imposed by the
bankruptcy court.

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)


NORWICHTOWN PROPERTIES: Case Summary & 3 Largest Unsec. Creditors
-----------------------------------------------------------------
Debtor: Norwichtown Properties, LLC
        193 Thames Street
        Groton, CT 06340

Bankruptcy Case No.: 10-20769

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       District of Connecticut (Hartford)

Judge: Albert S. Dabrowski

Debtor's Counsel: Americo M. Scungio, Esq.
                  Law Offices of Americo M. Scungio
                  167 Main Street
                  Westerly, RI 02891
                  Tel: (401) 596-0150
                  Fax: (401) 596-8429
                  Email: amscungioesq@verizon.net

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
3 largest unsecured creditors, is available for free at:

                  http://bankrupt.com/misc/ctb10-20769.pdf

The petition was signed by John G. Syragakis, member of the
Company.


NOVELOS THERAPEUTICS: Faces Lawsuit Over Shares Purchase
--------------------------------------------------------
Novelos Therapeutics Inc. said that a purported class action
complaint was filed on March 5, 2010, in the United States
District Court for the District of Massachusetts by Drew Weaver,
allegedly a purchaser of shares of Novelos' common stock on
February 1, 2010, on behalf of himself and all others similarly
situated against Novelos and Harry S. Palmin, Novelos' President
and Chief Executive Officer.

The complaint claims that Novelos violated Section 10(b) of the
Securities Exchange Act of 1934, as amended, and Rule 10b-5
promulgated thereunder in connection with alleged disclosures
related to the Phase 3 clinical trial of its compound NOV-002 for
non-small cell lung cancer.  The plaintiff seeks a jury trial.

Novelos has reviewed the complaint and believes that the
allegations are without merit.  Novelos plans to vigorously defend
against the litigation.  Novelos' policy is to not discuss pending
litigation.

                   About Novelos Therapeutics

Based in Newton, Massachusetts, Novelos Therapeutics, Inc., is a
drug development company focused on the development of
therapeutics for the treatment of cancer and hepatitis.  Novelos
owns exclusive worldwide intellectual property rights (excluding
Russia and other states of the former Soviet Union, but including
Estonia, Latvia and Lithuania) related to certain clinical
compounds and other pre-clinical compounds based on oxidized
glutathione.

At September 30, 2009, the Company had $5,996,461 in total assets
against total current liabilities of $7,408,800, deferred revenue
-- noncurrent of $408,334, redeemable preferred stock of
$20,381,810.  At September 30, 2009, the Company had accumulated
deficit of $63,211,609 and stockholders' deficiency of
$22,202,483.

Novelos Therapeutics said it will require additional capital to
continue operations beyond the third quarter of 2010.  Novelos
Therapeutics noted the report from its independent registered
public accounting firm dated March 17, 2009, and included with its
annual report on Form 10-K indicated that factors existed that
raised substantial doubt about its ability to continue as a going
concern.


NUANCE COMMUNICATIONS: Moody's Raises Corp. Family Rating to 'Ba3'
------------------------------------------------------------------
Moody's Investors Service upgraded Nuance Communications, Inc.,
corporate family rating to Ba3 from B1 and its senior secured debt
facilities to Ba2 from Ba3.  The upgrade was driven by resilience
the business demonstrated through the downturn and improving free
cash flow metrics. The outlook is stable.

Nuance's Ba3 corporate family rating reflects the Company's
leading positions within the voice recognition industry, strong
growth profile of the industry and strong cash flow generating
capabilities.  The ratings remain tempered by the company's
acquisition appetite as it attempts to further buildout its a
strong portfolio of speech recognition applications and services.
The ratings contemplate that the Company will continue to use a
mix of cash, debt and stock to finance acquisitions while keeping
leverage at or below 4.0x on a pro forma basis.

The Company has used a combination of debt and equity financing as
well as cash from operations to make over $2.4 billion in
acquisitions since 2006. Nuance has used debt selectively while it
has generally kept leverage under 4.0x on a pro forma basis.
Leverage for the 12 month period ended December 31, 2009, was
approximately 4.0x (all figures calculated on a Moody's adjusted
basis).  The Company has quickly reduced costs and integrated
acquisitions and despite restructuring costs associated with the
integrations has generated strong levels of free cash flow.
Resulting free cash flow to debt levels have continued to improve
reaching approximately 20% for the 12 month period ended
December 31, 2009.

Despite the downturn, Nuance achieved 1% organic revenue growth
for the fiscal year ended September 30, 2009, and 128% organic
growth in the quarter ended December 31, 2009, driven by growth in
the voice recognition industry(both figures on a non-GAAP basis
adjusted for acquisitions).  Management will face challenges in
maintaining EBITDA growth in the near term as they integrate the
SpinvVox acquisition and its exceptionally high cost structure,
but Moody's expects any degradation will be short lived.

These ratings were upgraded:

  -- Corporate family rating to Ba3 from B1

  -- Probability of default to Ba3 from B1

  -- $75 million senior secured revolving credit facility due 2012
     to Ba2, LGD3 (34%) from Ba3, LGD3 (35%)

  -- $649 million senior secured term loan facilities due 2013 to
     Ba2, LGD3 (34%) from Ba3, LGD3 (35%)

The outlook is stable.

Moody's most recent rating action on Nuance was August 9, 2007,
when Moody's revised Nuance's outlook to stable.

Nuance Communications, Inc., headquartered in Burlington, MA, is a
leading provider of speech and imaging solutions for business and
consumers.  The company had revenues of $996 million for the
twelve months ended December 31, 2009.


NUVEEN INVESTMENTS: Assets Under Mgt. at $144.8 Billion
-------------------------------------------------------
Nuveen Investment Inc. reported the result of operations and
financial condition as of March 31, 2010.

The Company says that gross sales from mutual fund and accounts
aggregated $27 billion for 2009, compared with $20.99 billion for
2008.

Assets under management aggregated $144.8 billion as of Dec. 31,
2009.

A full-text copy of the company release is available for free at
http://ResearchArchives.com/t/s?58bc

                     About Nuveen Investments

Nuveen Investments, Inc., headquartered in Chicago, is a U.S.-
domiciled holding company whose subsidiaries provide investment
management products and services to retail and institutional
investors predominantly in the US.  The company's assets under
management were $128 billion as of June 30, 2009.

At September 30, 2009, the Company had total assets of
$6,657,946,000 against total liabilities of $5,692,573,000.

"We believe that funds generated from operations and existing cash
reserves will be adequate to fund debt service requirements,
capital expenditures and working capital requirements for the
foreseeable future.  Our ability to continue to fund these items
and to service debt may be affected by general economic,
financial, competitive, legislative, legal and regulatory factors
and by our ability to refinance or repay outstanding indebtedness
with scheduled maturities beginning in November 2013," Nuveen
Investments said.

On April 1, 2009, Moody's Investor Service lowered Nuveen
Investments' corporate family rating to Caa1, the rating for its
senior secured credit facilities to B3, and the rating for its
senior unsecured notes to Caa3.  In addition, on April 1, 2009,
Standard and Poor's Ratings Services lowered Nuveen Investments'
local currency long-term counterparty credit rating to B-.


OCCULOGIX INC: Stockholders OK Shares Sale to Investors, Officers
-----------------------------------------------------------------
William G. Dumencu, Chief Financial Officer of OccuLogix, Inc.,
disclosed that on March 3, 2010, a special meeting of the
stockholders of OccuLogix, dba TearLab Corporation, was held.
These proposals were approved by the required majorities:

     -- the sale and issuance of an aggregate of 586,217 shares of
        the Company's common stock pursuant to the terms of a
        securities purchase agreement dated as of January 8, 2010,
        by and among the Company and certain of the investors
        party thereto;

     -- the sale and issuance of an aggregate of 772,258 shares of
        the Company's common stock to certain directors and
        officers of the Company pursuant to the terms of the
        Purchase Agreement;

     -- the sale and issuance of a number of shares of the
        Company's common stock -- not to exceed 10,963,795 shares
        -- equal to (a) US$2,000,000 divided by (b) 80% of the
        volume weighted average of the Company's common stock on
        the NASDAQ Capital Market for the 10 trading days ending
        on the day immediately preceding the closing for such
        sale, pursuant to the terms of the Purchase Agreement;
        and

     -- the issuance of 386,798 shares of the Company's common
        stock upon the conversion of 12% Convertible Subordinated
        Secured Notes Due 2011 purchased by certain directors and
        officers of the Company.

              About OccuLogix dba TearLab Corporation

Headquartered in San Diego, California, OccuLogix, Inc. dba
TearLab Corporation -- http://www.tearlab.com-- develops and
markets lab-on-a-chip technologies that enable eye care
practitioners to improve standard of care by objectively and
quantitatively testing for disease markers in tears at the point-
of-care.  The TearLab Osmolarity Test, for diagnosing Dry Eye
Disease, is the first assay developed for the award winning
TearLab Osmolarity System.  TearLab Corporation's common shares
trade on the NASDAQ Capital Market under the symbol 'TEAR' and on
the Toronto Stock Exchange under the symbol 'TLB'.  TearLab is
currently marketed globally in more than 17 countries including
the U.S.

At September 30, 2009, the Company had $10,674,343 in total assets
against total current liabilities of $2,389,625 and contingently
redeemable common stock of $250,000.  At September 30, 2009, the
Company had $370,335,623 in accumulated deficit and stockholders'
equity of $8,034,718.

The Company noted in its quarterly report on Form 10-Q for the
quarter ended September 30, 2009, it has sustained substantial
losses of $14,181,433 for the year ended December 31, 2008 and
$2,678,252 and $7,097,008 for the nine months ended September 30,
2009 and 2008, respectively.

OccuLogix, Inc., said as a result of its history of losses and
financial condition, there is substantial doubt about its ability
to continue as a going concern.


OCCULOGIX INC: Eric Donsky Holds 15.1% of Common Stock
------------------------------------------------------
Eric Donsky in Laguna Beach, California, disclosed that as of
December 31, 2009, he may be deemed to beneficially own 1,797,182
shares or roughly 15.1% of the common stock of OccuLogix, Inc.
The shares include (a) 107,500 shares subject to options
exercisable within 60 days of January 1, 2010; and (b) 1,689,682
shares held by Mr. Donsky.

              About OccuLogix dba TearLab Corporation

Headquartered in San Diego, California, OccuLogix, Inc. dba
TearLab Corporation -- http://www.tearlab.com-- develops and
markets lab-on-a-chip technologies that enable eye care
practitioners to improve standard of care by objectively and
quantitatively testing for disease markers in tears at the point-
of-care.  The TearLab Osmolarity Test, for diagnosing Dry Eye
Disease, is the first assay developed for the award winning
TearLab Osmolarity System.  TearLab Corporation's common shares
trade on the NASDAQ Capital Market under the symbol 'TEAR' and on
the Toronto Stock Exchange under the symbol 'TLB'.  TearLab is
currently marketed globally in more than 17 countries including
the U.S.

At September 30, 2009, the Company had $10,674,343 in total assets
against total current liabilities of $2,389,625 and contingently
redeemable common stock of $250,000.  At September 30, 2009, the
Company had $370,335,623 in accumulated deficit and stockholders'
equity of $8,034,718.

The Company noted in its quarterly report on Form 10-Q for the
quarter ended September 30, 2009, it has sustained substantial
losses of $14,181,433 for the year ended December 31, 2008 and
$2,678,252 and $7,097,008 for the nine months ended September 30,
2009 and 2008, respectively.

OccuLogix, Inc., said as a result of its history of losses and
financial condition, there is substantial doubt about its ability
to continue as a going concern.


OLD MUTUAL: Disposal Plan Cues Fitch's Negative Watch
-----------------------------------------------------
Fitch Ratings has placed Old Mutual plc's and its operating
subsidiaries' ratings on Rating Watch Negative as a result of Old
Mutual's plan to explore selling its US life business, OM
Financial Life Insurance Company and OM Financial Life Insurance
Company of New York.  Old Mutual announced the disposal plan.

The placing of OM Financial Companies' ratings on RWN reflects
Fitch's intention to move to rating these entities on a stand-
alone basis, consistent with Fitch's group rating criteria, when
the strategic category of an affiliate changes to "limited
importance".  This is the lowest of Fitch's four categories of
strategic importance.

Under Fitch criteria, insurance operations within a group that are
likely to be sold are categorized as having "limited importance",
and are typically rated on a stand-alone basis.  This applies
despite Old Mutual's stated intention to continue to support OM
Financial Companies at a National Association of Insurance
Commissioners risk-based capital ratio of at least 300% until such
time as the businesses are sold.  Fitch therefore intends to
update its view of the OM Financial Companies' stand-alone ratings
over the near term to resolve the RWN.

Fitch believes that the most important factor in OM Financial
Companies' Insurer Financial Strength ratings has been the
financial strength and support of Old Mutual which has provided
capital support, management expertise, centralized services and
reinsurance relationships.  Without such parental support, OM
Financial Companies' ratings would have been lower than the
current rating category.

Old Mutual is seeking to sell its US life business because its
performance expectations are not consistent with targets announced
for the rest of the group.  The company has also announced its
intention to prepare for listing a minority shareholding of its US
asset management business.  Proceeds from these initiatives would
contribute to Old Mutual's debt reduction target of GBP1.5bn, also
announced.

The RWN on Old Mutual and its other operating entities reflects
the risk, in Fitch's opinion, that the group may, as a consequence
of having announced its intention to sell OM Financial Companies,
find itself having to proceed with a sale on unfavorable terms.
If and when a transaction evolves or if Old Mutual decides not to
proceed with a sale, Fitch will comment further on rating impacts,
with a particular focus on Old Mutual's cash, capital and leverage
positions.

The rating actions are:

Old Mutual plc

  -- Long-term IDR: 'BBB+'; placed on RWN

  -- Short-term IDR: 'F2'; placed on RWN

  -- Senior unsecured debt: 'BBB'; placed on RWN

  -- Lower tier 2 subordinated debt:

  -- EUR750m 4.5% subordinated notes due 2017 (XS0282807428);
     GBP300m 5% subordinated notes due 2016 (XS0241547693): 'BBB-
     '; placed on RWN

Upper tier 2 subordinated debt:

  -- EUR500m 5% subordinated notes undated (XS0234284668): 'BB+';
     placed on RWN

Tier 1 subordinated debt:

  -- GBP350m 6.376% perpetual callable securities (XS0215556142):
     'BB+'; placed on RWN

Old Mutual Capital Funding L.P.

Tier 1 subordinated debt:

  -- US$750m 8% perpetual callable securities (XS0168687100):
     'BB+'; placed on RWN

OM Financial Life Insurance Company

  -- IFS rating: 'BBB-'; placed on RWN

OM Financial Life Insurance Company of New York

  -- IFS rating: 'BBB-'; placed on RWN

Old Mutual Life Assurance Company (South Africa)

  -- National IFS rating: 'AAA(zaf)'; placed on RWN

  -- National long-term rating: 'AA+(zaf)'; placed on RWN

  -- Subordinated debt: ZAR3bn callable notes (ZAG000026816): 'AA-
     (zaf)'; placed on RWN

Skandia Life Assurance Company Ltd

  -- IFS rating: 'A'; placed on RWN
  -- Long-term IDR: 'A-'; placed on RWN

Skandia Insurance Company Ltd

  -- IFS rating: 'A'; placed on RWN
  -- Long-term IDR: 'A-'; placed on RWN


OLD SOUTHERN BANK: Closed; Centennial Bank Assumes All Deposits
---------------------------------------------------------------
Old Southern Bank, Orlando, Florida, was closed March 12 by the
Florida Office of Financial Regulation, which appointed the
Federal Deposit Insurance Corporation as receiver. To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with Centennial Bank, Conway, Arkansas, to assume all of
the deposits of Old Southern Bank.

The seven branches of Old Southern Bank will reopen on Monday as
branches of Centennial Bank.  Depositors of Old Southern Bank will
automatically become depositors of Centennial Bank.  Deposits will
continue to be insured by the FDIC, so there is no need for
customers to change their banking relationship to retain their
deposit insurance coverage.  Customers should continue to use
their former Old Southern Bank branch until they receive notice
from Centennial Bank that it has completed systems changes to
allow other Centennial Bank branches to process their accounts as
well.

As of December 31, 2009, Old Southern Bank had approximately
$315.6 million in total assets and $319.7 million in total
deposits.  Centennial Bank will pay the FDIC a premium of 1.00
percent to assume all of the deposits of Old Southern Bank.  In
addition to assuming all of the deposits, Centennial Bank agreed
to purchase essentially all of the failed bank's assets.

The FDIC and Centennial Bank entered into a loss-share transaction
on $282.7 million of Old Southern Bank's assets. Centennial Bank
will share in the losses on the asset pools covered under the
loss-share agreement.  The loss-share transaction is projected to
maximize returns on the assets covered by keeping them in the
private sector.  The transaction also is expected to minimize
disruptions for loan customers. For more information on loss
share, please visit:
http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-822-1918.  Interested parties also can
visit the FDIC's Web site at
http://www.fdic.gov/bank/individual/failed/oldsouthern.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $94.6 million. Centennial Bank's acquisition of all the
deposits was the "least costly" resolution for the FDIC's DIF
compared to all alternatives. Old Southern Bank is the 29th FDIC-
insured institution to fail in the nation this year, and the
fourth in Florida. The last FDIC-insured institution closed in the
state was Marco Community Bank, Marco Island, February 19, 2010.


ORLEANS HOMEBUILDERS: Wants BMO Capital as M&A Advisor
------------------------------------------------------
Orleans Homebuilders, Inc., et al., have asked for permission from
the U.S. Bankruptcy Court for the District of Delaware to employ
BMO Capital Markets Corp. as M&A advisor.

BMOCM will, among other things:

     a. assist the Debtors in evaluating alternative transactions,
        including analyzing the financial impact of the
        alternatives;

     b. advise and assist the Debtor in considering the
        desirability of effecting a transaction;

     c. assist in developing a list of possible participants in a
        transaction and contacting and eliciting interest from
        those possible participants; and

     d. assist in the preparation of a descriptive memorandum or
        other offering or information materials that describe the
        Debtors' operations and financial information and other
        appropriate information.

BMOCM will be paid a $150,000 monthly fee for services provided to
the Debtors.

Scott W. Humphrey, executive managing director and head of U.S.
Mergers & Acquisitions at BMOCM, assures the Court that the firm
is "disinterested" as that term is defined in Section 101(14) of
the Bankruptcy Code.

Orleans Homebuilders, Inc. -- aka FPA Corporation, OHB, Parker &
Lancaster, Masterpiece Homes, Realen Homes, and Orleans --
develops, builds and markets high-quality single-family homes,
townhouses and condominiums. From its headquarters in suburban
Philadelphia, the Company serves a broad customer base including
first-time, move-up, luxury, empty-nester and active adult
homebuyers. The Company currently operates in the following 11
distinct markets: Southeastern Pennsylvania; Central and Southern
New Jersey; Orange County, New York; Charlotte, Raleigh and
Greensboro, North Carolina; Richmond and Tidewater, Virginia;
Chicago, Illinois; and Orlando, Florida.  The Company's Charlotte,
North Carolina operations also include adjacent counties in South
Carolina.  Orleans Homebuilders employs approximately 300 people.

The Company filed for Chapter 11 bankruptcy protection on March 1,
2010 (Bankr. D. Delaware Case No. 10-10684).

Curtis S. Miller, Esq., and Robert J. Dehney, Esq., at Morris,
Nichols, Arsht & Tunnell, is the Company's Delaware and
restructuring counsel.  Cahill Gordon & Reindell LLP is the
Company's bankruptcy and restructuring counsel.  Blank Rome LLP is
the Company's special corporate counsel.  FTI Consulting Inc. is
the Company's financial advisor.  Lieutenant Island Partners is
the Company's M&A consultant.  The Company's claims and notice
agent is Garden City Group Inc.

The Company estimated its assets and liabilities at $100,000,001
to $500,000,000.


ORLEANS HOMEBUILDERS: NYSE Amex to Suspend Trading of Common Stock
------------------------------------------------------------------
In a regulatory filing Thursday, Orleans Homebuilders, Inc.,
discloses that on March 5, 2010, the Company received a written
notice from the NYSE Amex LLC stating that the Exchange intends to
suspend trading in the Company's common stock, apply to the
Securities and Exchange Commission to delist the common stock and
to truncate the procedures regarding continued listing evaluation
and follow-up as specified in Section 1009 of the NYSE Amex LLC
Company Guide.  The written notice stated that: (i) the staff of
the Exchange's Corporate Compliance Department has determined that
the Company is not in compliance with certain of the Exchange's
continued listing standards, (ii) due to the nature and severity
of the continued listing deficiencies, it is necessary and
appropriate to truncate the continued listing evaluation and
follow-up procedures set forth in Section 1009 of the Company
Guide and to move to immediately remove the Company's common stock
from listing and registration on the Exchange; and (iii) the
Company's common stock is now subject to delisting proceedings.

The written notice also states that the Staff Determination is
based on the fact that the Company has become subject to Section
1002(e) of the Company Guide, which states that the Exchange, as a
matter of policy, will consider the suspension of trading in, or
removal from listing of, any security when, in the opinion of the
Exchange, an event occurs or a condition exists which makes
further dealings on the Exchange unwarranted.  In particular, the
written notice from the Exchange stated that:

(i) as a result of the Company filing of a voluntary petition
under Chapter 11 of the United States Bankruptcy Code on behalf of
itself and a majority of its operating subsidiaries on March 1,
2010, the Staff has determined that the Company is financially
impaired and, as such, is not in compliance with Section
1003(a)(iv) of the Company Guide in that is has sustained losses
which are so substantial in relation to its overall operations or
its existing financial resources, and its financial condition has
become so impaired that it appears questionable, in the opinion of
the Exchange, as to whether the Company will be able to continue
its operations and meet is obligations as they mature; and

(ii) the Company is not in compliance with Section 134 and Section
1101 of the Company Guide because the Company failed to timely
file its Annual Report on Form 10-K for the fiscal year ended
June 30, 2009, and its Quarterly Reports on Form 10-Q for the
periods ended September 30, 2009, and December 31, 2009.

                    About Orleans Homebuilders

Orleans Homebuilders, Inc. -- aka FPA Corporation, OHB, Parker &
Lancaster, Masterpiece Homes, Realen Homes, and Orleans --
develops, builds and markets high-quality single-family homes,
townhouses and condominiums. From its headquarters in suburban
Philadelphia, the Company serves a broad customer base including
first-time, move-up, luxury, empty-nester and active adult
homebuyers. The Company currently operates in the following 11
distinct markets: Southeastern Pennsylvania; Central and Southern
New Jersey; Orange County, New York; Charlotte, Raleigh and
Greensboro, North Carolina; Richmond and Tidewater, Virginia;
Chicago, Illinois; and Orlando, Florida.  The Company's Charlotte,
North Carolina operations also include adjacent counties in South
Carolina.  Orleans Homebuilders employs approximately 300 people.

The Company filed for Chapter 11 bankruptcy protection on March 1,
2010 (Bankr. D. Delaware Case No. 10-10684).

Curtis S. Miller, Esq., and Robert J. Dehney, Esq., at Morris,
Nichols, Arsht & Tunnell, is the Company's Delaware and
restructuring counsel.  Cahill Gordon & Reindell LLP is the
Company's bankruptcy and restructuring counsel.  Blank Rome LLP is
the Company's special corporate counsel.  FTI Consulting Inc. is
the Company's financial advisor.  BMO Capital Markets is the
Company's M&A advisor.  Lieutenant Island Partners is the
Company's M&A consultant.  The Company's claims and notice agent
is Garden City Group Inc.

The Company estimated its assets and liabilities at $100,000,001
to $500,000,000.


ORLEANS HOMEBUILDERS: Taps Lieutenant Island as Consultant
----------------------------------------------------------
Orleans Homebuilders, Inc., et al., have sought authorization from
the U.S. Bankruptcy Court for the District of Delaware to employ
Lieutenant Island Partners LLC as consultant and financial
advisor, nunc pro tunc to the Petition Date.

Lieutenant Island will:

     a. provide advice on strategic matters including a sale;

     b. provide advice on the sale or issuance by the Debtors of
        capital stock or equity linked securities (but not act as
        an underwriter or securities dealer) which may include
        common stock, warrants to purchase common stock, preferred
        stock, convertible notes, convertible preferred or some
        combination thereof of the Debtors, in either case to one
        or more third parties, whether effected in a sing
        transaction or a series of related transactions; and

     c. provide advice in the creation of a joint venture which
        may include, inter alia, the acquisition of land,
        development and/or construction of single family homes or
        townhouse projects, the acquisition of debt related to
        land and/or other potential transaction(s) between the
        Debtors and their affiliates and third party investors.

The Debtors say that the experience of, and services to be
provided by Lieutenant Island's managing partner compliment the
services being provided by BMO Capital Markets Corp. and the
Debtors' other restructuring professionals.  According to the
Debtors, Lieutenant Island and BMOCM will endeavor to coordinate
amongst themselves and with the other retained professionals in
the Debtors' bankruptcy cases to eliminate unnecessary duplication
or overlap of work as they did during their prepetition
engagement.

Lieutenant Island will be paid for its services based on its
engagement letter, a copy of which is available for free at:


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

Richard Thaler, Lieutenant Island's managing partner, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

Orleans Homebuilders, Inc. -- aka FPA Corporation, OHB, Parker &
Lancaster, Masterpiece Homes, Realen Homes, and Orleans --
develops, builds and markets high-quality single-family homes,
townhouses and condominiums. From its headquarters in suburban
Philadelphia, the Company serves a broad customer base including
first-time, move-up, luxury, empty-nester and active adult
homebuyers. The Company currently operates in the following 11
distinct markets: Southeastern Pennsylvania; Central and Southern
New Jersey; Orange County, New York; Charlotte, Raleigh and
Greensboro, North Carolina; Richmond and Tidewater, Virginia;
Chicago, Illinois; and Orlando, Florida.  The Company's Charlotte,
North Carolina operations also include adjacent counties in South
Carolina.  Orleans Homebuilders employs approximately 300 people.

The Company filed for Chapter 11 bankruptcy protection on March 1,
2010 (Bankr. D. Delaware Case No. 10-10684).

Curtis S. Miller, Esq., and Robert J. Dehney, Esq., at Morris,
Nichols, Arsht & Tunnell, is the Company's Delaware and
restructuring counsel.  Cahill Gordon & Reindell LLP is the
Company's bankruptcy and restructuring counsel.  Blank Rome LLP is
the Company's special corporate counsel.  FTI Consulting Inc. is
the Company's financial advisor.  BMO Capital Markets is the
Company's M&A advisor.  The Company's claims and notice agent
is Garden City Group Inc.

The Company estimated its assets and liabilities at $100,000,001
to $500,000,000.


ORLEANS HOMEBUILDERS: Gets Suspension Notice From NYSE Amex
-----------------------------------------------------------
Orleans Homebuilders, Inc., received a written notice from NYSE
Amex LLC stating that the Exchange intends to suspend trading in
the Company's common stock, apply to the Securities and Exchange
Commission to delist the common stock and to truncate the
procedures regarding continued listing evaluation and follow-up as
specified in Section 1009 of the NYSE Amex LLC Company Guide.

In particular, the written notice from the Exchange stated that
(i) as a result of the Company filing of a voluntary petition
under Chapter 11 of the United States Bankruptcy Code on behalf of
itself and a majority of its operating subsidiaries on March 1,
2010, the Staff has determined that the Company is financially
impaired and, as such, is not in compliance with Section
1003(a)(iv) of the Company Guide in that is has sustained losses
which are so substantial in relation to its overall operations or
its existing financial resources, and its financial condition has
become so impaired that it appears questionable, in the opinion of
the Exchange, as to whether the Company will be able to continue
its operations and meet is obligations as they mature; and (ii)
the Company is not in compliance with Section 134 and Section 1101
of the Company Guide because the Company failed to timely file its
Annual Report on Form 10-K for the fiscal year ended June 30, 2009
and its Quarterly Reports on Form 10-Q for the periods ended
September 30, 2009 and December 31, 2009.

The Exchange also indicated that, based upon the foregoing, the
Staff has concluded that it appears that it is appropriate to
initiate immediate delisting proceedings at this time.  The
Company does not intend to appeal the Exchange's determination to
delist the Company's common stock and to apply to the SEC to
delist the Company's common stock.  The written notice from the
Exchange states that if the Company does not appeal the Staff
Determination by March 12, 2010, the delisting determination will
become final, the Exchange will suspend trading in the Company's
common stock and will submit an application to the SEC to strike
the Company's common stock from listing and regulation on the
Exchange in accordance with Section 12 of the Securities Exchange
Act of 1934, as amended, and rules promulgated thereunder.  After
the Company's common stock is delisted, the Company cannot predict
whether any trading market, including any over-the-counter trading
market, for the Company's common stock will develop or be
sustained.

                     About Orleans Homebuilders

Orleans Homebuilders, Inc. -- aka FPA Corporation, OHB, Parker &
Lancaster, Masterpiece Homes, Realen Homes, and Orleans --
develops, builds and markets high-quality single-family homes,
townhouses and condominiums. From its headquarters in suburban
Philadelphia, the Company serves a broad customer base including
first-time, move-up, luxury, empty-nester and active adult
homebuyers. The Company currently operates in the following 11
distinct markets: Southeastern Pennsylvania; Central and Southern
New Jersey; Orange County, New York; Charlotte, Raleigh and
Greensboro, North Carolina; Richmond and Tidewater, Virginia;
Chicago, Illinois; and Orlando, Florida.  The Company's Charlotte,
North Carolina operations also include adjacent counties in South
Carolina.  Orleans Homebuilders employs approximately 300 people.

The Company filed for Chapter 11 bankruptcy protection on March 1,
2010 (Bankr. D. Delaware Case No. 10-10684).

Curtis S. Miller, Esq., and Robert J. Dehney, Esq., at Morris,
Nichols, Arsht & Tunnell, is the Company's Delaware and
restructuring counsel.  Cahill Gordon & Reindell LLP is the
Company's bankruptcy and restructuring counsel.  Blank Rome LLP is
the Company's special corporate counsel.  FTI Consulting Inc. is
the Company's financial advisor.  BMO Capital Markets is the
Company's M&A advisor.  Lieutenant Island Partners is the
Company's M&A consultant.  The Company's claims and notice agent
is Garden City Group Inc.

The Company estimated its assets and liabilities at $100,000,001
to $500,000,000.


PACETTI GROUP: Case Summary & 10 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: The Pacetti Group, Inc.
        P.O. Box 618
        St. Augustine, FL 32085

Bankruptcy Case No.: 10-01977

Chapter 11 Petition Date: March 13, 2010

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

Debtor's Counsel: Robert Altman, Esq.
                  AFD
                  5256 Silver Lake Dr
                  Palatka, FL 32177-8524
                  Tel: (386) 325-4691
                  Email: robertaltman@bellsouth.net

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

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

A list of the Company's 10 largest unsecured creditors is
available for free at:

                 http://bankrupt.com/misc/flmb10-01977.pdf

The petition was signed by Charles A. Pacetti, president of the
company.


PACIFIC CAPITAL: Frederick Clough Retires Effective March 31
------------------------------------------------------------
On March 5, 2010, Frederick W. Clough, Executive Vice President
and General Counsel of Pacific Capital Bancorp and its wholly-
owned subsidiary, Pacific Capital Bank, N.A., notified the Company
that he will retire as an officer and employee of the Company and
the Bank effective March 31, 2010.  Mr. Clough has agreed to
continue to serve the Company and the Bank in a consulting
capacity.

Mr. Clough joined Pacific Capital Bancorp in February 2001 from
his position as Managing Partner of the Santa Barbara law firm of
Reicker, Clough, Pfau, Pyle, McRoy & Herman, LLP, which he and his
partners established in July 1996.

                        About the Company

Santa Barbara, Calif.-based Pacific Capital Bankcorp is a
community bank holding company providing full service banking
including all aspects of consumer and commercial lending, trust
and investment advisory services and other consumer and business
banking products through its subsidiaries' retail branches,
commercial and wealth management centers and other distribution
channels to consumers and businesses primarily located in the
central coast of California.

The Company has six wholly-owned subsidiaries. Pacific Capital
Bank, National Association, a banking subsidiary, PCB Service
Corporation, utilized as a trustee of deeds of trust in which
PCBNA is the beneficiary and four unconsolidated subsidiaries used
as business trusts in connection with issuance of trust-preferred
securities.

The Company's balance sheet as of Dec. 31, 2009, showed
$7.542 billion in assets, $7.178 billion of debts, and
$364.6 million of stockholders' equity.

                       Going Concern Doubt

Ernst & Young LLP, in Los Angeles, 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, 2009.  The independent auditors noted that
of the Company's recurring losses from operations.


PACIFIC CAPITAL: Posts $421.3 Million Net Loss in 2009
------------------------------------------------------
Pacific Capital Bankcorp filed its annual report on Form 10-K,
showing a net loss of $421.3 million on $340.3 million of net
interest income for 2009, compared with a net loss of
$22.7 million on $340.5 million of net interest income in 2008.
The net interest margin decreased to 4.26% for the year ended
December 31, 2009, from 4.72% for the year ended December 31,
2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$7.542 billion in assets, $7.178 billion of debts, and
$364.6 million of stockholders' equity.

Ernst & Young LLP, in Los Angeles, 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.

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

                http://researcharchives.com/t/s?58cb

Santa Barbara, Calif.-based Pacific Capital Bankcorp is a
community bank holding company providing full service banking
including all aspects of consumer and commercial lending, trust
and investment advisory services and other consumer and business
banking products through its subsidiaries' retail branches,
commercial and wealth management centers and other distribution
channels to consumers and businesses primarily located in the
central coast of California.

The Company has six wholly-owned subsidiaries. Pacific Capital
Bank, National Association, a banking subsidiary, PCB Service
Corporation, utilized as a trustee of deeds of trust in which
PCBNA is the beneficiary and four unconsolidated subsidiaries used
as business trusts in connection with issuance of trust-preferred
securities.


PACIFIC DEVELOPMENT: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor:  Pacific Development, L.C.
         77 East Center Street, Suite B
         Provo, UT 84606

Bankruptcy Case No.: 10-22754

Type of Business:

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: R. Kimball Mosier

Debtor's Counsel: Danny C. Kelly, Esq.
                  Stoel Rives LLP
                  One Utah Center
                  201 South Main Street, Suite 1100
                  Salt Lake City, UT 84111
                  Tel: (801) 578-6979
                  Fax: (801) 578-6999
                  Email: dckelly@stoel.com

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

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

The petition was signed by Ottavio Belvedere, the company's
manager and member.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
A/C Electric & Lighting    Trade Debt             $14,629
Design, LLC

Aztech Engineering Inc.    Trade Debt             $14,032

Brent Rowbotham            Trade Debt             $127,000

Capital Community Bank     Trade Debt             $16,538

Contractors Heating and    Trade Debt             $27,214
Cooling Supply

Draney Accounting          Trade Debt             $5,125

DRCX, Inc.                 Trade Debt             $45,936

Innovative Air Systems     Trade Debt             $42,844
Inc.

J and J LOTT, Inc.         Trade Debt             $23,500
dba Paradise Pools
     Construction

Labrador Construction,     Trade Debt             $13,916
Inc.

Ladd Concrete Inc.         Trade Debt             $16,594

Paramount Plumbing LLC     Trade Debt             $19,990

Robinson, Seiler &         Trade Debt             $15,809
Anderson, LC

SG Brothers Painting LLC   Trade Debt             $6,001

Shimada Excavation         Trade Debt             $14,820

Trane Engineering, PC      Trade Debt             $41,801

Utah County Treasurer                             $16,683

Velez Masonry              Trade Debt             $9,257

Vinyl Industries, LLC      Trade Debt             $9,519

Zions Bank                 Bank Loan              $31,974
Ret. Loan Consumer
Customer Assis. Cntr.


PAHRUMP-160@IRENE: Case Summary & 1 Largest Unsecured Creditor
--------------------------------------------------------------
Debtor: PAHRUMP-160@IRENE, LLC
        8809 Quadro Ct.
        Las Vegas, NV 89134

Bankruptcy Case No.: 10-13924

Chapter 11 Petition Date: March 10, 2010

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

Debtor's Counsel: Steven B. Scow, Esq.
                  11500 S. Eastern Ave., Ste 210
                  Henderson, NV 89052
                  Tel: (702) 318-5040
                  Fax: (702) 318-5039
                  Email: sscow@kochscow.com

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

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

The Debtor identified Law Offices of Steven R. Scow, Ltd. with
legal services debt claim for $4,150 as its largest unsecured
creditor. A full-text copy of the Debtor's petition, including a
list of its largest unsecured creditor, is available for free at:

                   http://bankrupt.com/misc/nvb10-13924.pdf

The petition was signed by J. Bruce Wiggins, president of the
Company.


PAID INC: Posts $3.5 Million Net Loss in 2009
---------------------------------------------
Paid, Inc., filed its annual report on Form 10-K, showing a net
loss of $3.5 million on $4.7 million of revenue for 2009, compared
with a net loss of $4.7 million on $2.2 million of revenue for
2008.

The Company's balance sheet as of December 31, 2009, showed
$3.0 million in assets, $942,819 of debts, and $2.0 million of
stockholders' equity.

CCR LLP, in Westborough, Mass., expressed substantial doubt about
the Company's ability to continue as a going concern.  The
independent auditors noted that of the Company's substantial net
losses and accumulated deficit of $39.5 million at December 31,
2009.

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

                   http://researcharchives.com/t/s?58c2

Based in Worcester, Massachusetts, Paid, Inc. (OTC BB: PAYD)
-- http://www.paid.com/-- provides marketing, management,
merchandising, auction management, Web site hosting, and
authentication and consignment services for the entertainment,
sports, and collectible industries.


PALMETTO GREENS: NC Court Approves Plan of Reorganization
---------------------------------------------------------
Alan Blondin at The Sun News reports that the U.S. Bankruptcy
Court for the Eastern District of North Carolina approved the plan
of reorganization of Palmetto Greens Golf & Country Club and
Carolina Shores Golf & Country Club, calling the sale of 49
single-family and 61multifamily lots around Palmetto Greens to
homebuilder R.S. Parker Homes.

Report says lot sales aren't likely to cover all of the debt, so
operational profits from the golf courses will likely be relied
upon to contribute to the payoff under the plan.

The previous plan, which fell through, included the sale of 61
multi-family lots to T-A-G Development, report says.

Cary, North Carolina-based Palmetto Greens Development Company,
LLC, is a development company that sells lots around Palmetto
Greens Golf & Country Club.  The Company filed for Chapter 11
bankruptcy protection on May 7, 2009 (Bankr. E.D. N.C. Case No.
09-03779).  David J. Haidt, Esq., at Ayers, Haidt & Trabucco,
P.A., assists the Company in its restructuring efforts.  The
Company listed $1,000,001 to $10,000,000 in assets and $1,000,001
to $10,000,000 in debts.


PARK AVENUE BANK: Closed; Valley National Assumes All Deposits
--------------------------------------------------------------
The Park Avenue Bank, New York, New York, was closed March 12 by
the New York State Banking Department, which appointed the Federal
Deposit Insurance Corporation as receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with Valley National Bank, Wayne, New Jersey, to assume
all of the deposits of The Park Avenue Bank.

The four branches of The Park Avenue Bank will reopen during
normal business hours beginning tomorrow as branches of Valley
National Bank.  Depositors of The Park Avenue Bank will
automatically become depositors of Valley National Bank.  Deposits
will continue to be insured by the FDIC, so there is no need for
customers to change their banking relationship to retain their
deposit insurance coverage.  Customers should continue to use
their existing branch until they receive notice from Valley
National Bank that it has completed systems changes to allow other
Valley National Bank branches to process their accounts as well.

As of December 31, 2009, The Park Avenue Bank had approximately
$520.1 million in total assets and $494.5 million in total
deposits.  Valley National Bank will pay the FDIC a premium of
0.15 percent to assume all of the deposits of The Park Avenue
Bank.  In addition to assuming all of the deposits of the failed
bank, Valley National Bank agreed to purchase essentially all of
the assets.

The FDIC and Valley National Bank entered into a loss-share
transaction on $379.8 million of The Park Avenue Bank's assets.
Valley National Bank will share in the losses on the asset pools
covered under the loss-share agreement.  The loss-share
transaction is projected to maximize returns on the assets covered
by keeping them in the private sector.  The transaction also is
expected to minimize disruptions for loan customers.  For more
information on loss share, please visit:
http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-640-2538.  Interested parties also can
visit the FDIC's Web site at
http://www.fdic.gov/bank/individual/failed/parkavenue-ny.html

As part of this transaction, the FDIC will acquire a cash
appreciation instrument.  The FDIC estimates that the cost to the
Deposit Insurance Fund will be $50.7 million.  Valley National
Bank's acquisition of all the deposits was the "least costly"
resolution for the FDIC's DIF compared to all alternatives.  The
Park Avenue Bank is the 28th FDIC-insured institution to fail in
the nation this year, and the second in New York.  The last FDIC-
insured institution closed in the state was LibertyPointe Bank,
New, York, New York, on March 11, 2010.


PATRICK HACKETT: Parent Pays Off Loan from Local Devt. Agency
-------------------------------------------------------------
According to Watertown Daily News, Hacketts Stores Inc. paid the
remaining $38,000 on a loan from North Country Alliance.  "With
the help of our parent company, we are glad to have satisfied this
agency loan in full and look forward to doing the same with each
and every local development agency here in the north country," the
report quotes Herbert L. Becker, president and chief executive
officer of Patrick Hackett Hardware Co., as saying.

In February Hackett's Stores, Inc., disclosed that its wholly
owned subsidiary, Patrick Hackett Hardware Company, has filed all
the required schedules in its Chapter 11 case.

The U.S. Trustee Diane G. Adams previously asked the U.S.
Bankruptcy Court to convert the Chapter 11 case of Patrick Hackett
Hardware Co. to a Chapter 7 liquidation proceeding for failure to
file certain financial statements.

                       About Patrick Hackett

Hackett's Stores, Inc., is the parent company of Patrick Hackett
Hardware Company and HIIO, Inc.  Patrick Hackett Hardware Company
has a wide variety of merchandise and business lines, including a
full service hardware, consumer electronics, equipment rental,
brand name clothing, footwear, sporting goods and gourmet foods.
HIIO, Inc., represents a concept platform for a new specialty
retailer focused on fashion clothing and outerwear, footwear and
selected gift items.  There are currently no HIIO-branded stores
opened to date.

Based in New York, Patrick Hackett Hardware Company --
http://www.hackettsonline.com/-- began in 1830 as a hardware
store in upstate New York.  Hacketts now operates full-service
department stores and a specialty store, selling a full line of
clothes, consumer electronics, cell phones, shoes, housewares,
hardware and others.

Patrick Hackett filed for Chapter 11 on November 10, 2009 (Bankr.
N.D. N.Y Case No. 09-63135).  The Debtor disclosed less than
$10,000,000 in total asset

Hackett's Stores, Inc., whose shares trade currently on the Pink
Sheets, is not nor has ever been in bankruptcy or bankruptcy
protection."


PEBWORTH PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Pebworth Properties, LLC
        250 W. Indiantown Road, Ste 103
        Jupiter, FL 33458

Bankruptcy Case No.: 10-15951

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Paul G. Hyman Jr.

Debtor's Counsel: Craig I. Kelley, Esq.
                  1665 Palm Beach Lakes Blvd #1000
                  West Palm Beach, FL 33401
                  Tel: (561) 491-1200
                  Email: cik@kelleylawoffice.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 $4,563,184,
and total debts of $6,761,049.

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/flsb10-15951.pdf

The petition was signed by David Steinhauer, president of the
Company.


PEREGRINE PHARMA: Posts $1.5 Million Net Loss in Q3 Ended Jan. 31
-----------------------------------------------------------------
Peregrine Pharmaceuticals, Inc., filed its quarterly report on
Form 10-Q, showing a net loss of $1.5 million on $9.9 million of
revenue for the three months ended January 31, 2009, compared with
a net loss of $3.3 million on $6.8 million of revenue for the same
period ended January 31, 2009.

The Company's balance sheet as of January 31, 2010, showed
$27.5 million in assets, $14.9 million of debts, and $12.6 million
of stockholders' equity.

At January 31, 2010, the Company had $16.8 million in cash and
cash equivalents.  The Company has substantial funds on the
research, development and clinical trials of its product
candidates, and funding the operations of Avid.  As a result, the
Company has historically experienced negative cash flows from
operations since its inception and the Company expects the
negative cash flows from operations to continue for the
foreseeable future.  The Company's net losses incurred during the
past three fiscal years ended April 30, 2009, 2008, and 2007,
amounted to $16.5 million, $23.2 million, and $20.8 million,
respectively.  Unless and until the Company is able to generate
sufficient revenues from Avid's contract manufacturing services
and/or from the sale and/or licensing of its products under
development, the Company expects these losses to continue for the
foreseeable future.

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

                  http://researcharchives.com/t/s?58b8

Based in Tustin, Calif., Peregrine Pharmaceuticals, Inc. (Nasdaq:
PPHM)-- http://www.peregrineinc.com/-- is a clinical stage
biopharmaceutical company that manufactures and develops
monoclonal antibodies for the treatment of cancer and serious
viral infections.  The Company is pursuing three separate clinical
programs in cancer and hepatitis C virus infection with its lead
product candidates bavituximab and Cotara(R).  Peregrine also has
in-house manufacturing capabilities through its wholly owned
subsidiary Avid Bioservices, Inc. -- http://www.avidbio.com/--
which provides development and biomanufacturing services for both
Peregrine and outside customers.


PERRYTON HOSPITALITY: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Perryton Hospitality, Inc.
        1424 Riverside Rd.
        Roanoke, TX 76262-4409

Bankruptcy Case No.: 10-20167

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Amarillo)

Judge: Robert L. Jones

Debtor's Counsel: Bill Kinkead, Esq.
                  Kinkead Law Offices
                  6937 Bell St., Suite G
                  Amarillo, TX 79109
                  Tel: (806) 353-2129
                  Fax: (806) 353-4370
                  Email: bkinkead713@hotmail.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 Harish Patel, president of the Company.


PERSONALITY HOTELS: Case Summary & 23 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor:  Personality Hotels III, LLC
         440 Geary Street
         San Francisco, CA 94102

Bankruptcy Case No.: 10-30804

Type of Business: Personality Hotels owns Hotel Frank and Vertigo
                  Hotel in San Francisco.

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Dennis Montali

Debtor's Counsel: Edward C. Singer, Esq.
                  Lemi Group Legal Department
                  2099 Market Street
                  San Francisco, CA 94114
                  Tel: (415) 252-4220

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

Estimated Debts: $50,000,001 to $100,000,000

The petition was signed by Frank E. Lembi.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                    Petition
  Debtor                              Case No.      Date
  ------                              --------      ----
Hotel Metropolis II, LLC              10-30802       3/10/10
   aka Metropolis Hotel II, LLC
  Assets: $1 million to $10 million
  Debts:  $10 million to $50 million

A. Personality Hotels III, LLC's List of 23 Largest Unsecured
Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Centerline Capital Group   Debt/Loan              $17,860,474
PO Box 730929
Dallas, TX 75373-0929

Star Development, Inc.     Contractor for         $2,003,200
5830 Oberlin Drive         building renovation
San Diego, CA 92121

S&H Renovations            Contractor for         $1,557,266
603 Arlington Road         building renovation
Redwood City, CA 94062

SF Culinary Trust Fund     Accounts Payable-      $175,941
                           Union Health &
                           Welfare & Pension
                           Benefits-Settlement
                           past due and current
                           01/2010 & 02/2010

D‚cor Fabrics, Inc.        Accounts Payable       $97,250

Thomas Schoos Design,      Accounts Payable       $90,000
Inc.

San Francisco Tax          Accounts Payable-      $82,856
Collector                  Hotel occupancy tax
Business Tax Section       & SFTID Tourism
                           assessment & SF Payroll
                           tax

Maine Glass                Accounts Payable       $60,500

Serta Mattress Company     Accounts Payable       $40,400

Marchetti Construction     Accounts Payable       $19,056
Inc.

PG&E                       Accounts Payable       $14,872

Berkshire Hathaway         Accounts Payable-      $11,879
Homestate Companies-       Workers Comp
Cypress Insurance          insurance Installment
Company                    Payments

Koni, Corp.                Accounts Payable       $10,014

Execupark                  Accounts Payable       $8,848

Thomas Construction        Accounts Payable       $8,000
Resources

AICCO, Inc.                Financing of General   $7,693
(Imperial Credit Corp)     Liability & Property
                           Insurance-monthly
                           installment payments

TravelClick                Accounts Payable       $7,500

Blueshield of California   Accounts Payable-      $7,200
                           Health insurance for
                           non-union employees

SICO America Inc.          Accounts Payable       $6,613

Kaiser Foundation Health   Accounts Payable-      $5,550
Plan                       Health insurance for
                           non-union employees

Max's                      Accounts Payable       $5,435

AAA-Mail Stop 2            Accounts Payable       $4,501

Peter Petruzzi, Architect  Accounts Payable       $3,450


B. Hotel Metropolis II, LLC's List of 19 Largest Unsecured
Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Centerline Capital Group   Debt/Loan              $4,039,526
PO Box 730929
Dallas, TX 75373-0929

SF Culinary Trust Fund     Accounts Payable-      $118,244
                           Union Health &
                           Welfare & Pension
                           Benefits-Settlement
                           past due and current
                           01/2010 & 02/2010

San Francisco Tax          Accounts Payable-      $30,402
Collector                  Hotel occupancy tax
Business Tax Section       & SFTID Tourism
                           assessment & SF Payroll
                           tax

Jessie M. Dela Cruz        Employee, Vacation     $8,260
                           Accrual

PG&E                       Accounts Payable       $6,955

Berkshire Hathaway         Accounts Payable-      $4,892
Homestate Companies-       Workers Comp
Cypress Insurance          insurance Installment
Company                    Payments

SFPUC                      Accounts Payable       $4,773

Lilia Calvario             Employee, Vacation     $3,846
                           Accrual

AICCO, Inc.                Financing of General   $3,166
(Imperial Credit Corp)     Liability & Property
                           Insurance-monthly
                           installment payments

Execupark                  Accounts Payable       $2,602

Marta Guadalupez           Employee, Vacation     $2,388
Hernandez                  Accrual

TravelClick                Accounts Payable       $2,600

AT&T                       Accounts Payable       $1,822

Rui Hong Yao               Employee, Vacation     $1,619
                           Accrual

Timothy Whiting            Employee, Vacation     $1,619
                           Accrual

Oscar Sanchez              Employee, Vacation     $1,535
                           Accrual

Ching Yee Leung Womg       Employee, Vacation     $1,496
                           Accrual

Blueshield of California   Accounts Payable-      $1,471
                           Health insurance for
                           Non-union employees

Golden Gate Disposal       Accounts Payable       $1,326


PHEASANT RUN: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Pheasant Run Apartments, L.P.
        7925 Palawan Drive
        Indianapolis, IN 46239

Bankruptcy Case No.: 10-03060

Type of Business:

Chapter 11 Petition Date: March 11, 2010

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

Judge: Anthony J. Metz III

Debtor's Counsel: Scott N. Schreiber, Esq.
                  Stahl Cowen Crowley, LLC
                  55 W. Monroe St., Suite 1200
                  Chicago, IL 60603
                  Tel: (312) 641-0060
                  Fax: (312) 641-6959
                  Email: sschreiber@stahlcowen.com

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

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

According to the schedules, the Company has assets of $10,711,300,
and total debts of $10,463,300.

The petition was signed by David Rasmussen.

Debtor's List of 20 Largest Unsecured Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
AB-s Cleaning              Trade                  $1,078

Apartment Guide            Trade                  $785

Appliance Warehouse        Trade                  $465

Carpetbaggers              Trade                  $594

Eastman Products           Trade                  $484

Flaherty & Collins         Court summary          $245,828
Construction, Inc.         judgment

Grainger                   Trade                  $266

HD Supply                  Trade                  $265

Indiana Newspaper, Inc.    Trade                  $479

Indianapolis Water         Utility                $14,149

Marion County Treasurer    2008/2009 and other    $391,300
(RE Tax)                   other tax years
PO Box 6145
Indianapolis, IN 46206

Marion County Treasurer                           $1,023
(Pers. Prop. Tax)

One Way of Indiana         Trade                  $180

Penter Bros. Panting       Trade                  $285

Quill Corporation                                 $203

Rays Trash Services        Trade                  $356

Riterug Property           Trade                  $623
Management Division

Sherwin Williams Co.                              $445

Sunrise Painting, Inc.     Trade                  $505

Superior                   Trade                  $3,987


PHILOSOPHY ACQUISITION: Moody's Affirms 'B2' Corp. Family Rating
----------------------------------------------------------------
Moody's Investors Service affirmed Philosophy Acquisition Company,
Inc.'s (parent of Philosophy, Inc.) B2 corporate family rating and
its B2 probability-of-default rating.  Moody's also affirmed the
B2 rating on Philosophy, Inc.'s first lien senior secured credit
facilities.  The ratings outlook is stable.

The ratings affirmation reflects the substantial improvement in
the company's credit metrics following its strong operating
performance for the quarter ended December 31, 2009, and its good
liquidity profile, despite reduced financial flexibility stemming
from its aggressive financial policy.

The ratings are constrained by Philosophy's aggressive financial
policy notably within the context of continued weak macro
conditions, modest scale, the highly competitive nature of the
beauty category, and the volatility in its financial results.

These ratings were affirmed:

Philosophy Acquisition Company, Inc.

  -- Corporate family rating at B2;
  -- Probability-of-default rating at B2.

Philosophy, Inc.

  -- $35 million senior secured revolving credit facility due 2013
     at B2 (LGD3, 46%).  Point estimate revised from (LGD3, 45%);

  -- $214 million first lien senior secured term loan due 2014 at
     B2 (LGD3, 46%).  Point estimate revised from (LGD3, 45%).

Philosophy, Inc., and BioTech Research Laboratories, Inc., are co-
borrowers under the first lien senior secured credit facilities.

The stable ratings outlook reflects Moody's expectation that
Philosophy will sustain recent improvements in financial results
such that credit metrics will not meaningfully weaken from current
levels.  The outlook also reflects Moody's expectation that the
company will maintain a good liquidity profile and that it will
refrain from shareholder enhancement activities or acquisitions
over the medium-term.

The last rating action was on March 7, 2007, when Moody's
downgraded Philosophy's first lien senior secured bank credit
facilities to B2 from B1 and affirmed the B2 corporate family
rating.

Philosophy Acquisition Company, Inc., is the parent company of
Philosophy, Inc., and BioTech Research Laboratories, Inc.,
headquartered in Phoenix, Arizona.  Philosophy develops,
manufactures and markets premium personal care products under the
Philosophy brand.


PONIARD PHARMACEUTICALS: Posts $13.2 Million Net Loss in Q4 2009
----------------------------------------------------------------
Poniard Pharmaceuticals reported a net loss of $13.2 million for
the fourth quarter ended December 31, 2009, compared with a net
loss of $13.9 million for the fourth equarter of 2008.  The
Company reported a net loss of $45.7 million for the year ended
December 31, 2009, compared with a net loss of $48.6 million for
the same period in 2008.

Total operating expenses for the quarter ended December 31, 2009,
were $12.4 million compared with $13.4 million for the quarter
ended December 31, 2008, and were $43.0 million for the year ended
December 31, 2009, compared with $49.2 million for the same period
in 2008.  Total operating expenses for the quarter and year ended
December 31, 2009, include charges of $1.5 million and
$2.5 million, respectively, for the $1.5 million asset impairment
loss on dedicated manufacturing equipment effective December 31,
2009, and for the $1.0 million restructuring and related asset
impairment resulting from the Company's implementation of a
strategic restructuring plan to discontinue its in-house
preclinical research operations and reduce its workforce by
approximately 12% effective March 31, 2009.

Research and development expenses were $7.2 million for the
quarter ended December 31, 2009, compared with $10.0 million for
the quarter ended December 31, 2008.  Research and development
expenses were $25.7 million for the year ended December 31, 2009,
compared with $33.7 million for the same period in 2008.

General and administrative expenses were $3.8 million for the
quarter ended December 31, 2009, compared with $3.3 million for
the quarter ended December 31, 2008.  General and administrative
expenses were $14.7 million for the year ended December 31, 2009,
compared with $15.4 million for the same period in 2008.

Cash and investment securities as of December 31, 2009, were
$43.4 million, compared with $72.8 million at December 31, 2008.
The Company believes that its existing cash and investment
securities, together with its projected operating and financing
results, will provide adequate resources to fund the Company's
operations at least through the end of 2010.

The Company's balance sheet as of Dec. 31, 2009, showed
$52.4 million in assets, $28.8 million of debts, and $23.6 million
of stockholders' equity.

A full-text copy of the press release is available at no charge at
http://researcharchives.com/t/s?5887

                  About Poniard Pharmaceuticals

South San Francisco, Calif.-based Poniard Pharmaceuticals, Inc.
(Nasdaq: PARD) http://www.poniard.com/-- is a biopharmaceutical
company focused on the development and commercialization of
innovative oncology products.

                       Going Concern Doubt

In its Form 10-Q report for the third quarter ended September 30,
2009, the Company said it has historically experienced recurring
operating losses and negative cash flows from operations.  As of
September 30, 2009, the Company had working capital of
$23.7 million, an accumulated deficit of $394.9 million and total
shareholders' equity of $20.2 million.  The Company's current loan
facility contains covenants that restrict certain financing
activities by the Company and require the Company to maintain a
minimum amount of unrestricted cash.  Given the uncertainties of
outcomes of the Company's clinical trials, there is no assurance
that the Company can achieve its projected operating results.  The
Company has no assurance that, especially in light of the current
distressed economic environment, the lenders will be willing to
waive or renegotiate the terms of the loan agreement to address or
avoid financial or other defaults.  "These factors, among others,
raise substantial doubt about the Company's ability to continue as
a going concern."


POWERS LAKE CONSTRUCTION: Voluntary Chapter 11 Case Summary
-----------------------------------------------------------
Debtor: Powers Lake Construction Company, Inc.
        8790 Karow Road
        Twin Lakes, WI 53181

Bankruptcy Case No.: 10-23404

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Judge: Susan V. Kelley

Debtor's Counsel: Jerome R. Kerkman, Esq.
                  Kerkman & Dunn
                  757 N. Broadway, Suite 300
                  Milwaukee, WI 53202-3612
                  Tel: (414) 277-8200
                  Fax: (414) 277-0100
                  Email: jkerkman@kerkmandunn.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 Mark P. Karow, president of the
Company.


POWERS LAKE: Files for Chapter 11 Bankruptcy in Milwaukee
---------------------------------------------------------
Business Journal of Milwaukee reports that Powers Lake
Construction Co. Inc. of Twin Lakes filed for Chapter 11
bankruptcy in the U.S. Bankruptcy Court in Milwaukee, posting both
assets and debts of between $1 million and $10 million.

According to the Company, the slowdown in residential construction
adversely affected what had been Powers Lake Construction's
primary market.

Powers Lake Construction Co. Inc. is a sewer, water and site
development company.


PREMIER CONCRETE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Premier Concrete LLC
        8400 Firestone Lane, NE
        Albuquerque, NM 87113

Bankruptcy Case No.: 10-11154

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Judge: Robert H. Jacobvitz

Debtor's Counsel: Chris W. Pierce, Esq.
                  Hunt & Davis, P.C.
                  P.O. Box 30088
                  Albuquerque, NM 87190-0088
                  Tel: (505) 881-3191
                  Fax: (505) 881-4255
                  Email: cpierce@hrd-law.com

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

Estimated Debts: $0 to $50,000

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/nmb10-11154.pdf

The petition was signed by Kevin Chavez, managing member of the
Company.


PRESSTEK INC: Inks New $25 Million Revolving Credit Facility
------------------------------------------------------------
Presstek Inc. has entered into a new $25 million revolving credit
facility with PNC Bank, N.A., and concurrently completed the sale
of its subsidiary, Lasertel, Inc., to SELEX Galileo Inc.

                         Credit Facility

The new facility with PNC Bank is a three-year revolving credit
facility which allows Presstek to borrow against certain assets of
the Company up to a maximum of $25 million.  Under the credit
facility the Company has the option of selecting an interest rate
of either the then applicable London Inter-Bank Offer Rate plus
3.5% or the Prime Rate plus 2.5%.  In connection with the closing
of the PNC facility the Company repaid all outstanding amounts
under its previously existing $25 million credit facility.

"We are very pleased to establish this relationship with PNC Bank.
We feel their commitment to Presstek reaffirms our strategy and is
testimony to the confidence they have in our ability to execute
our initiatives," said Jeff Jacobson, Presstek's Chairman,
President and Chief Executive Officer.  "With the new credit
facility in place, we believe that we have sufficient capital to
meet our current financing requirements and fuel our future
growth."

                            Lasertel Sale

Presstek completed the sale of Lasertel to SELEX on March 5, 2010,
for approximately $10 million, comprised of $8 million in cash and
$2 million of laser diode inventory for Presstek's future product
requirements.  The Company expects to recognize a gain on the sale
of Lasertel within discontinued operations of approximately
$0.5 million, subject to final adjustments.  The net cash proceeds
have been used to pay down debt.  As part of the transaction,
Presstek has entered into a two-year laser diode supply agreement.
SELEX also will assume the current lease on the Lasertel property
in Tucson, Arizona.

"The sale to SELEX places Lasertel into a large organization whose
core business is closely aligned with Lasertel's mission,"
commented Jacobson.  "At the same time, it allows Presstek to
focus on our core business.  While selling Lasertel has been a key
objective during the past year, we needed to ensure that we
received an appropriate value for Lasertel.  We are pleased that
we are able to accomplish that objective with this sale."

"[We] have announced the completion of two critical milestones in
driving Presstek forward.  The closings of the Lasertel sale and
the new credit facility represent major steps toward clearing the
way for Presstek to fulfill its strategic goals," added Jacobson.
"These types of activities can take an enormous amount of time and
effort to complete.  We look forward to the opportunity to
increase, even more, our focus on driving our strategy and
delivering our message to the market."

As reported by the Troubled Company Reporter on December 28, 2009,
Presstek and certain of its affiliated U.S. companies entered into
an Amendment No. 1 to Forbearance and Amendment Agreement with its
bank lending group consisting of RBS Citizens, National
Association, as Administrative Agent and Lender, Keybank National
Association and TD Bank, N.A.  The expiration date of the Original
Forbearance was extended to the earlier of the fifth day following
the date on which the pending sale by the Company of its Lasertel,
Inc. subsidiary is completed and March 31, 2010.

Presstek expects to finalize a new revolving credit facility at or
around the time of the closing of the sale of the Company's
Lasertel subsidiary, which is currently expected to occur in the
first quarter of 2010.

The extension of the forbearance agreement is intended to ensure
that the Company will continue to have access to its credit
facility to meet its operating needs until the expected new credit
facility is in place.

                        About Presstek

Greenwich, Connecticut-based Presstek, Inc. (NASDAQ: PRST) --
http://www.presstek.com/-- manufactures and markets high tech
digital imaging solutions to the graphic arts and laser imaging
markets.  Presstek's patented DI(R), CTP and plate products
provide a streamlined workflow in a chemistry-free environment,
thereby reducing printing cycle time and lowering production
costs.  Presstek solutions are designed to make it easier for
printers to cost effectively meet increasing customer demand for
high-quality, shorter print runs and faster turnaround while
providing improved profit margins.  Presstek subsidiary, Lasertel,
Inc., manufactures semiconductor laser diodes for Presstek's and
external customers' applications.


PSYCHIATRIC SOLUTIONS: Bank Debt Trades at 2% Off
-------------------------------------------------
Participations in a syndicated loan under which Psychiatric
Solutions, Inc., is a borrower traded in the secondary market at
97.90 cents-on-the-dollar during the week ended Friday, March 12,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 0.93 percentage points from the previous week, The Journal
relates.  The Company pays 200 basis points above LIBOR to borrow
under the facility.  The bank loan matures on July 17, 2012, and
carries Moody's Ba2 rating and Standard & Poor's BB- rating.  The
debt is one of the biggest gainers and losers among 193 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Troubled Company Reporter stated on Dec. 14, 2009, that Standard &
Poor's assigned its preliminary 'B+' senior secured debt,
preliminary 'B+' senior unsecured debt, preliminary 'B-'
subordinated rating, and preliminary 'CCC+' preferred stock
ratings to Psychiatric Solutions Inc.'s Rule 415 shelf
registration.  This filing falls under the SEC's well-known
seasoned issuer rules, which do not require a dollar amount of
securities to be registered.  The registration replaces a previous
registration.

Psychiatric Solutions, Inc., headquartered in Franklin, Tennessee,
provides a continuum of behavioral health programs to critically
ill children, adolescents and adults through its operation of
owned or leased psychiatric inpatient facilities.  PSI also
manages freestanding psychiatric inpatient facilities for
government agencies and psychiatric inpatient units within medical
and surgical hospitals owned by others.  The company recognized
approximately $1.8 billion in revenue for the year ended Dec. 31,
2008.


QUANTUM FUEL: Gets Nasdaq Notice Regarding Minimum Bid Price Rule
-----------------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., received a
letter from The Nasdaq Stock Market ("Nasdaq") on March 8, 2010
notifying the Company that, based upon its closing bid price for
the last 30 consecutive business days, it no longer meets the
minimum bid price of $1.00 per share required under Nasdaq
Marketplace Rule 5450(a)(1).  In accordance with Marketplace Rule
5810(c)(3)(A), the Company has a grace period of 180 calendar
days, or until September 1, 2010, in which to regain compliance.
The Company can regain compliance if at any time prior to
September 1, 2010 the bid price of the Company's common stock
closes at $1.00 or higher for a minimum of 10 consecutive business
days.  In the event the Company does not regain compliance with
the minimum bid price requirement prior to September 1, 2010, it
will receive written notification that its securities are subject
to delisting.  At that time, the Company may appeal the delisting
determination to a Hearing Panel. Alternatively, the Company may
apply to transfer its securities to the Nasdaq Capital Market if
it satisfies the requirements for initial inclusion, with the
exception of the bid price.  In the event of such a transfer, the
Company will be afforded an additional grace period to comply with
the minimum bid price requirement while listed on the Nasdaq
Capital Market.  In response to this notice, the Company intends
to monitor the closing bid price of its common stock between now
and September 1, 2010.  The Company will consider available
options if its common stock does not trade at a level likely to
result in the Company regaining compliance with the minimum
closing bid price requirement.

                      About Quantum Fuel

Quantum Fuel Systems Technologies Worldwide, Inc., a fully
integrated alternative energy company, is a leader in the
development and production of advanced propulsion systems, energy
storage technologies, and alternative fuel vehicles.  Quantum's
portfolio of technologies includes advanced lithium-ion battery
systems, electronic controls, hybrid electric drive systems,
hydrogen storage and metering systems, and alternative fuel
technologies that enable fuel efficient, low emission hybrid,
plug-in hybrid electric, fuel cell, and alternative fuel vehicles.
Quantum's powertrain engineering, system integration, vehicle
manufacturing, and assembly capabilities provide fast-to-market
solutions to support the production of hybrid and plug-in hybrid,
hydrogen-powered hybrid, fuel cell, alternative fuel, and
specialty vehicles, as well as modular, transportable hydrogen
refueling stations.  Quantum's customer base includes automotive
OEMs, dealer networks, fleets, aerospace industry, military and
other government entities, and other strategic alliance partners.


QUICK SHINE INC: Case Summary & 2 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Quick Shine, Inc.
        6229 Hwy 431N
        Springfield, TN 37172

Bankruptcy Case No.: 10-02720

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Middle District of Tennessee (Nashville)

Judge: Keith M. Lundin

Debtor's Counsel: Roy C. Desha, Jr., Esq.
                  DeSha Watson PLLC
                  1106 18th Ave. South
                  NASHVILLE, TN 37212
                  Tel: (615) 369-9600
                  Fax: (615) 369-9613
                  Email: bknotice@deshalaw.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
2 largest unsecured creditors, is available for free at:

                 http://bankrupt.com/misc/tnmb10-02720.pdf

The petition was signed by Arlyn Ross, president of the Company.


REALM PROPERTIES LLC: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Realm Properties, LLC
        1300 Georgia Avenue
        Bristol, TN 37620

Bankruptcy Case No.: 10-50580

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Greeneville)

Judge: Marcia Phillips Parsons

Debtor's Counsel: Fred M. Leonard, Esq.
                  27 Sixth Street
                  Bristol, TN 37620
                  Tel: (423) 968-3151
                  Email: fredmleonard@earthlink.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 $1,149,098,
and total debts of $3,486,711.

A list of the Company's 6 largest unsecured creditors is available
for free at:

                 http://bankrupt.com/misc/tneb10-50580.pdf

The petition was signed by Mark E. Byington, president of the
company.


RECKSON OPERATING: Fitch Expects to Assigns 'BB+' Rating on Notes
-----------------------------------------------------------------
Fitch Ratings expects to assign a 'BB+' rating to the $250,000,000
senior unsecured notes offered by Reckson Operating Partnership,
L.P., a wholly-owned subsidiary of SL Green Operating Partnership,
L.P.  Reckson, with SL Green OP and SL Green Realty Corp., as co-
obligors, has commenced an offering of $250 million aggregate
principal amount of senior notes in a private offering.

The obligations under the notes will be joint and several
obligations of Reckson, SL Green OP and SL Green Realty Corp. The
Fitch Issuer Default Rating for all three companies is 'BB+' with
a Stable Rating Outlook.

Net proceeds from the offering are expected to be used to fund SL
Green Realty Corp.'s concurrent tender offer for certain
outstanding notes of Reckson and SL Green OP.  The remaining
proceeds, if any, are expected to be used for general corporate
purposes and/or working capital purposes.

Formed in 1980, SL Green is a self-administered and self-managed
real estate investment trust that predominantly acquires, owns,
repositions and manages Manhattan office properties.
Substantially all of SLG's assets are held by, and all of its
operations are conducted through, SL Green OP.  SL Green Realty
Corp. is the sole managing general partner of the economic
interests in the operating partnership.


REDDY ICE: 91% of Notes Tendered So Far; Deadline on March 19
-------------------------------------------------------------
Reddy Ice Holdings Inc. reported the results of the exchange
offer and consent solicitation by Reddy Ice Corporation for the
Company's outstanding 10 1/2% Senior Discount Notes due 2012.
Tenders and consents had been received with respect to about 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 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 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.

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.


REGENT COMMUNICATIONS: Resilient Owns 6.6% of Common Stock
----------------------------------------------------------
Resilient Partners, L.P., et al., disclosed that they may
be deemed to beneficially own shares of Regent Communications,
Inc.'s $.01 common stock:

                                       Shares
                                       Beneficially
   Company                             Owned         Percentage
   -------                             ------------  ----------
Resilient Partners, L.P.                2,802,193      6.6%
Resilient Capital Management, LLC       2,802,193      6.6%
Lance Laifer                            2,802,193      6.6%

This percentage is based on an aggregate of 42,297,341 shares of
Regent Communications' common stock outstanding as of November 5,
2009, as reported in Regent Communications' Form 10-Q for the
period ended September 30, 2009.

A full-text copy of Resilient Partners, L.P., et al.'s
Schedule 13D is available for free at:

                   http://researcharchives.com/t/s?58d4

Headquartered in Cincinnati, Ohio, Regent Communications, Inc., is
a radio broadcasting company that acquires, develops, and operates
radio stations.  There are 47 subsidiary entities with 62 radio
stations in markets in Colorado, Illinois, Indiana, Kentucky,
Louisiana, Michigan, Minnesota, New York, and Texas.  Regent
Communications focuses on radio stations in mid-sized market that
are diversified in terms of geographic location, target
demographics and format in order to minimize the effects of
downturns in specific markets and changes in format preferences.

The Company filed for Chapter 11 bankruptcy protection on March 1,
2010 (Bankr. D. Delaware Case No. 10-10632).  Michael R. Nestor,
Esq., at Young Conaway Stargatt & Taylor, assists the Company in
its restructuring effort.  As of January 31, 2010, the Company had
$166,506,000 in assets and $211,282,000 in liabilities.


RESPONSE BIOMEDICAL: Posts C$9.5 Million Net Loss in 2009
---------------------------------------------------------
Response Biomedical Corporation reported a net loss of C$9,543,531
on C$9,946,269 of revenue for 2009, compared with a net loss of
C$13,663,656 on C$5,876,337 of revenue for 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
C$21,464,196 in assets, C$11,817,654 of debts, and C$9,646,542 of
stockholders' equity.

"The Company has incurred significant losses to date and as at
December 31, 2009, had an accumulated deficit of C$90,700,310 and
has not generated positive cash flow from operations, accordingly,
there is significant uncertainty about the Company's ability to
continue as a going concern."

A full-text copy of the Company's financial statements for the
three months ended January 31, 2010, is available for free at:

                 http://researcharchives.com/t/s?58b9

Headquartered in Vancouver, British Columbia, Response Biomedical
Corp. (TSX: RBM, OTC BB: RPBIF) -- http://www.responsebio.com/--
is engaged in the research, development, commercialization and
distribution of diagnostic technologies for the medical point of
care ("POC") and on-site environmental testing markets.  POC and
on-site diagnostic tests (or assays) are simple, non-laboratory
based tests performed using portable hand-held devices, compact
desktop analyzers, single-use test cartridges and/or dipsticks.


RICHARD BAKER: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Richard B. Baker
               Kathleen I. Baker
               9857 Isabel Court
               Highlands Ranch, CO 80126

Bankruptcy Case No.: 10-15156

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Howard R. Tallman

Debtors' Counsel: Heather Schell, Esq.
                  303 E 17th Ave., Ste. 500
                  Denver, CO 80203
                  Tel: (303) 832-2400
                  Fax: (303) 832-1510
                  Email: hschell@kutnerlaw.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 $1,128,458
and total debts of $2,404,909.

A list of the Company's 6 largest unsecured creditors is available
for free at:

                  http://bankrupt.com/misc/cob10-15156.pdf

The petition was signed by the Joint Debtors.


SCAPE INVESTMENTS: Case Summary & 5 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Scape Investments Inc.
        146 VIa D'Este #1010
        Delray Beach, FL 33445

Bankruptcy Case No.: 10-15999

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Paul G. Hyman Jr.

Debtor's Counsel: Darren K Edwards, Esq.
                  110 E Broward Blvd #1700
                  Ft. Lauderdale, FL 33301
                  Tel: (954) 315-3822
                  Email: darrenedlaw@aol.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 5largest unsecured creditors is available
for free at:

                 http://bankrupt.com/misc/flsb10-15999.pdf


SEA VILLAGE MARINA: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Sea Village Marina L.L.C.
        125 Margate Blvd., Unit #1
        Northfield, NJ 08225

Bankruptcy Case No.: 10-17235

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Camden)

Debtor's Counsel: Albert A. Ciardi, III, Esq.
                  Ciardi Ciardi & Astin, P.C.
                  One Commerce Square
                  2005 Market Street, Suite 1930
                  Philadelphia, PA 19103
                  Tel: (215) 557-3550
                  Fax: (215) 557-3551
                  Email: aciardi@ciardilaw.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.


SELECTED FINANCIAL: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Selected Financial Service Corporation
        201 Quapaw Avenue
        Hot Springs, AR 71901

Bankruptcy Case No.: 10-71238

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       Western District of Arkansas (Hot Springs)

Debtor's Counsel: Stan D. Smith, Esq.
                  Mitchell Law Firm
                  425 W. Capitol, Ste. 1800
                  Little Rock, AR 72201-3525
                  Tel: (501) 688-8800
                  Fax: (501) 688-8807
                  Email: ssmith@mwlaw.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/arwb10-71238.pdf

The petition was signed by L. Guy Dillahunty, president of the
Company.


SENSATA TECH: Extends Participation Date to March 18 for Notes
--------------------------------------------------------------
Sensata Technologies B.V. has extended the Early Participation
Date to 5:00 P.M., New York City time, on March 18, 2010, with
respect to its previously announced cash tender offer to purchase
the maximum aggregate principal amount of its Notes (as defined
below) that it can purchase for $350,000,000.  The Early
Participation Date was previously scheduled for 5:00 P.M., New
York City time, on March 11, 2010.  As of that time, Sensata had
received tenders of approximately $98,700,000 (or the equivalent
amount in euros) aggregate principal amount of its outstanding 8%
Senior Notes due 2014 (the "Dollar Notes"), its 9% Senior
Subordinated Notes due 2016 (the "9% Notes") and its 11.25% Senior
Subordinated Notes due 2014 (the "11.25% Notes" and, together with
the 9% Notes, the "Euro Notes").  The Dollar Notes and the Euro
Notes are collectively referred to herein as the "Notes."

Each Holder who validly tenders (and does not withdraw) his or her
Notes prior to the Early Participation Date, and whose Notes are
accepted for purchase in the Tender Offer, will receive an early
participation payment of $30.00 per $1,000 principal amount of
Dollar Notes or EUR30.00 per EUR1,000 principal amount of Euro
Notes tendered in the Tender Offer (the "Early Participation
Payment").  Holders tendering their Notes in the Tender Offer
after the Early Participation Date will not be eligible to receive
the Early Participation Payment.

Sensata is extending the Early Participation Date to permit
Holders of the Notes more time to consider and tender their Notes
into the Tender Offer and still receive the Early Participation
Payment.  During this extension, Sensata will continue to evaluate
its alternatives with respect to the Tender Offer.

Sensata has also determined to extend the withdrawal date relating
to the Tender Offer to 5:00 P.M., New York City time, on March 18,
2010 (the "Withdrawal Date").  Notes tendered (and not withdrawn)
prior to the Withdrawal Date and Notes that are tendered after the
Withdrawal Date may not be withdrawn.  The Tender Offer is
scheduled to expire at 11:59 P.M., New York City time, on March
25, 2010, unless such time and date is extended or earlier
terminated by Sensata (the "Expiration Date").  Except as set
forth herein, the terms of the Tender Offer remain the same as
those set forth in the Offer to Purchase and related documents.

The Tender Offer is conditioned upon the satisfaction or waiver of
certain conditions as described in the Offer to Purchase,
including Sensata's ultimate parent company, which is currently
undertaking a financing transaction, having received sufficient
net proceeds to make the payments contemplated by the Tender
Offer.  Subject to applicable law, Sensata may also terminate the
Tender Offer at any time prior to the applicable Expiration Date
in its reasonable discretion in the event that one or more of the
conditions to the Tender Offer are not satisfied or waived by
Sensata.

                      About Sensata Technologies

Almelo, Netherlands-based Sensata Technologies B.V. --
http://www.sensata.com/-- supplies sensing, electrical
protection, control and power management solutions.  Owned by
affiliates of Bain Capital Partners, LLC, a global private
investment firm, and its co-investors, Sensata employs
approximately 9,500 people in nine countries.  Sensata's products
improve safety, efficiency and comfort for millions of people
every day in automotive, appliance, aircraft, industrial,
military, heavy vehicle, heating, air-conditioning, data,
telecommunications, recreational vehicle and marine applications.

                           *     *     *

As reported by the Troubled Company Reporter on December 7, 2009,
Moody's Investors Service has upgraded Sensata Technologies B.V.'s
Corporate Family and Probability of Default ratings to Caa1 from
Caa2, as well as the company's senior secured credit facility to
B2, senior unsecured notes to Caa2, and senior subordinated notes
to Caa3.  In a related rating action, Moody's affirmed the
company's Speculative Grade Liquidity rating at SGL-3.  The
outlook is positive.


SEQUA CORP: Bank Debt Trades at 7% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Sequa Corporation
is a borrower traded in the secondary market at 92.68 cents-on-
the-dollar during the week ended Friday, March 12, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 1.21 percentage
points from the previous week, The Journal relates.  The Company
pays 325 basis points above LIBOR to borrow under the facility.
The bank loan matures on Nov. 28, 2014, and carries Moody's B2
rating and Standard & Poor's B- rating.  The debt is one of the
biggest gainers and losers among 193 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

The Troubled Company Reporter, on Oct. 12, 2009, related that
Moody's confirmed Sequa Corporation's Caa1 Corporate Family and
the Probability of Default Ratings.  Simultaneously, the company's
senior secured bank credit facility rating was confirmed at B2 and
the rating for the senior unsecured notes was confirmed at Caa2.
The rating outlook is negative.  This action completes the review
for possible downgrade that was
initiated on March 16, 2009.

On July 1, 2009, the TCR reported Standard & Poor's lowered its
corporate credit rating on Sequa Corporation to 'B-' from 'B'.
S&P also lowered its issue-level rating on the company's senior
debt to 'B-' (the same as the corporate credit rating) from 'BB-'.
In addition, Standard & Poor's revised the recovery rating on this
debt to '3' from '1', indicating S&P's expectations of meaningful
(50%-70%) recovery in the event of a payment default.  At the same
time, S&P lowered its issue-level rating on Sequa's senior
unsecured debt to 'CCC' (two notches below the corporate credit
rating) from 'B-'.  S&P also revised the recovery rating on this
debt to '6' from '5', indicating S&P's expectations of negligible
(0%-10%) recovery the event of a payment default.  S&P also
revised the outlook to negative from stable.

Sequa Corporation, headquartered in New York, is a diversified
industrial company operating in three business segments: aerospace
through Chromalloy Gas Turbine, automotive through ARC Automotive
and Casco Products and metal coating through Precoat Metals.  LTM
revenue as of 6/30/09 was approximately $1.5 billion.


S.H. LEGGITT: Asks Court OK to Obtain Financing From Don Leggitt
----------------------------------------------------------------
S. H. Leggitt Company has asked for permission from the U.S.
Bankruptcy Court for the Western District of Texas to obtain post-
petition secured financing from Don Leggitt, Sr.

The DIP Lender has committed to provide up to $1.2 million.

The DIP Lender is the General Partner of CDL Partners, Ltd., which
is a 57.95% shareholder of Debtor, and the Chairman of the Board
of Directors of the Debtor.

The Debtor borrowed funds and had a credit facility with
Greenfield Commercial Credit, which had a credit limit of
$6.5 million, which was subsequently reduced to $1 million.  The
loan to Greenfield Commercial was secured by basically all of
Debtor's assets.  The credit line was reduced to $1 million.  All
advances under the Loan Agreement and ancillary documents are
solely at the discretion of Greenfield Commercial.

To allow the business to survive, the DIP Lender used his personal
funds to purchase the indebtedness from Greenfield Commercial and
receive a transfer of their note and all liens securing same.  He
subsequently amended the note to allow the Debtor additional
credit and better loan terms than those granted by Greenfield
Commercial Credit, LLC, a copy of the credit agreement is
available for free at
http://bankrupt.com/misc/SG_LEGGITT_financingpacts.pdf

Joseph D. Martinec 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 Debtor says that the terms of the DIP Facility are
substantially the same as contained in Greenfield Commercial's
credit agreement with the Debtor, a copy of which is available for
free at http://bankrupt.com/misc/SH_LEGGITT_greenfieldpact.pdf

Copies of the Debtor's pre-petition agreements with Greenfield
Commercial and the DIP Lender is available for free at:

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.


SHOME ENTERPRISES: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Shome Enterprises, LLC
        8181 W. Brandon Drive
        Littleton, CO 80125

Bankruptcy Case No.: 10-15157

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Michael E. Romero

Debtor's Counsel: Heather Schell, Esq.
                  303 E 17th Ave., Ste. 500
                  Denver, CO 80203
                  Tel: (303) 832-2400
                  Fax: (303) 832-1510
                  Email: hschell@kutnerlaw.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 Richard B. Baker, owner of the Company.


STARWOOD HOTELS: Fitch Affirms Issuer Default Rating at 'BB+'
-------------------------------------------------------------
Fitch Ratings has affirmed Starwood Hotels & Resorts Worldwide
Inc.'s ratings:

  -- Issuer Default Rating at 'BB+';
  -- $1.875 billion senior unsecured credit facility at 'BB+';
  -- $2.7 billion of senior unsecured notes at 'BB+'.

The Rating Outlook was revised to Stable from Negative.

The affirmation and Outlook revision reflect the modestly
improving recovery in lodging demand trends, Fitch's slightly
improved macro-economic outlook over the past few months,
management's continued efforts to support its balance sheet, the
repositioning of its timeshare business, and the company's
demonstrated willingness and ability to access the capital markets
during difficult market conditions.

Fitch has improved its base case industrywide RevPAR outlook in
the U.S. to a 1%-3% decline in 2010 from its initial view of a 3%-
5% decline, which was indicated in early December.  This follows a
17% U.S. RevPAR decline in 2009.  Fitch now anticipates that
RevPAR will turn consistently positive by mid-year, slightly ahead
of its previous outlook, which called for positive RevPAR growth
later in the year.  Fitch's base case continues to incorporate a
modest recovery with low-single digit RevPAR growth in 2011, amid
a slow macro-economic recovery characterized with high
unemployment levels through next year.  Lodging credit profiles
and ratings would be under pressure if the economic trends pointed
to a double-dip recession, although that is not in Fitch's current
outlook.

Domestically, Starwood has greatest exposure to the luxury, upper
upscale, and urban market segments.  RevPAR performance in upper
upscale and urban markets has been consistently outperforming the
broader hotel market for five months, while the luxury segment has
been consistently outperforming for three months.  In addition,
Starwood has more international exposure than many of its U.S.
peers, and hotel demand internationally is stronger than the U.S.
with the sharpest pace of recovery in Asia.

As a result, Starwood recently improved its company-specific
forward RevPAR outlook more than its competitors.  The company
recently indicated a 2010 worldwide same-store RevPAR outlook in
local currency of flat to +5% for its company operated hotels and
-2% to +2% for its branded owned hotels.  This reflects a notable
improvement from its previous outlook indicated in late October
2009 of a range of flat to -5% on both measures.

Importantly, the recent demand improvement has been partially
driven by the business segment.  Initial demand stabilization last
year was driven by flattening occupancy, as leisure travelers were
attracted by lower prices.  Recently, more profitable business
transient demand has improved.  However, the improvement is
primarily from close-in bookings and overall pricing remains weak
so the demand recovery remains fragile.  Further improvement in
lodging credit profiles and Fitch's demand outlook will result
when pricing strengthens and booking windows extend.  At this
point, pricing in Starwood's core segments of luxury, upper
upscale and urban continues to underperform the broader market.

Despite the significant operating pressure last year, Starwood
reduced debt by over $1 billion in 2009, resulting in a year-end
debt balance of below $3 billion, which was a level of debt
reduction that exceeded Fitch's previous base case projections.
The company demonstrated strong capital market access through two
unsecured bond issuances and two timeshare receivable note sales.
In addition, the company executed on multiple non-core asset sales
and received cash through an amended points agreement with
American Express.  These actions resulted in $1.6 billion of
proceeds that were used to repay debt including $1.375 billion of
term loans due in 2009-2011, and to complete a tender offer for
$300 million of notes due in 2012-2013.

These actions significantly improved its liquidity and maturity
profiles, as Starwood has no bond maturities until 2012 and a
minimal balance on its $1.875 billion credit facility, which
expires in February 2011 and had $1.6 billion available as of
Dec. 31, 2009.  Although the credit facility is on the cusp of
becoming a current liability, Fitch believes an extension of the
revolver at reasonable terms is likely given the company's
improvement in lodging fundamentals, balance sheet, liquidity and
free cash flow over the last few months.

As of Dec. 31, 2009, Fitch calculates unadjusted leverage
(debt/EBITDA) of 3.9 times (x) and slightly higher on an adjusted
basis.  Although this is slightly high relative to the 'BB+' IDR,
mitigating factors include the improving fundamentals in a
recovering cyclical industry, ample liquidity, and a solid free
cash flow profile.  Despite the operating pressure in 2009,
Starwood generated $210 million of FCF last year as the company
repositioned its timeshare business and was able to execute two
receivable note sales.  Going forward, the FCF profile will be
enhanced by a significantly reduced dividend ($35 million in 2010
vs. $165 million in 2009), continued execution on its asset light
strategy, and a less capital intensive timeshare business.

The Stable Outlook incorporates Fitch's expectation that
unadjusted comparable leverage will remain relatively flat in
2010.  With only $114 million of revolver debt to be paid down,
there is likely to be much less debt reduction in 2010 relative to
2009, while EBITDA will still be under pressure.  Starwood's next
bond maturity to address would be the 2012 notes, which had
$608 million outstanding as of year-end 2009.  Fitch anticipates
the company will be opportunistic with respect to refinancing
decisions, and current ratings incorporate that capital allocation
decisions remain focused on balance sheet improvement.

Securitized timeshare receivable debt will be coming back on
balance sheet in 2010, which will result in roughly a $445 million
increase in liabilities and a $400 million increase in assets.
Pretax earnings are expected to increase by $20-$23 million and
EBITDA by $40-$45 million, however, there is no change to cash
flow and there is no change to the economics of the
securitizations.  As Fitch has previously noted, ratings are not
affected by the accounting change and will issue additional
guidance as it relates to adjusted credit metrics going forward.


STATEWIDE BANK, COVINGTON: Closed; Home Bank Assumes All Deposits
-----------------------------------------------------------------
Statewide Bank, Covington, Louisiana, was closed March 12 by the
Louisiana Office of Financial Institutions, which appointed the
Federal Deposit Insurance Corporation as receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with Home Bank, Lafayette, Louisiana, to assume all of
the deposits of Statewide Bank.

The six branches of Statewide Bank will reopen as branches of Home
Bank. Depositors of Statewide Bank will automatically become
depositors of Home Bank.  Deposits will continue to be insured by
the FDIC, so there is no need for customers to change their
banking relationship to retain their deposit insurance coverage.
Customers should continue to use their former Statewide Bank
branch until they receive notice from Home Bank that it has
completed systems changes to allow other Home Bank branches to
process their accounts as well.

As of December 31, 2009, Statewide Bank had approximately
$243.2 million in total assets and $208.8 million in total
deposits. Home Bank did not pay the FDIC a premium to assume all
of the deposits of Statewide Bank. In addition to assuming all of
the deposits, Home Bank agreed to purchase essentially all of the
failed bank's assets.

The FDIC and Home Bank entered into a loss-share transaction on
$163.5 million of Statewide Bank's assets. Home Bank will share in
the losses on the asset pools covered under the loss-share
agreement. The loss-share transaction is projected to maximize
returns on the assets covered by keeping them in the private
sector. The transaction also is expected to minimize disruptions
for loan customers. For more information on loss share, please
visit:
http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about the transaction can call the
FDIC toll-free at 1-800-913-3062.  Interested parties also can
visit the FDIC's Web site at
http://www.fdic.gov/bank/individual/failed/statewide.html

The FDIC estimates that the cost to the Deposit Insurance Fund
(DIF) will be $38.1 million.  Home Bank's acquisition of all the
deposits was the "least costly" resolution for the FDIC's DIF
compared to all alternatives. Statewide Bank is the 30th FDIC-
insured institution to fail in the nation this year, and the first
in Louisiana. The last FDIC-insured institution closed in the
state was The Farmers Bank & Trust of Cheneyville, Cheneyville,
December 17, 2002.


STEEL DYNAMIC: Moody's Assigns 'Ba2' Rating on $300 Mil. Notes
--------------------------------------------------------------
Moody's Investors Service assigned a Ba2 rating to Steel Dynamics
Corporation's proposed offering of $300 million of senior
unsecured guaranteed notes due 2020 and affirmed the company's Ba1
corporate family rating and probability of default rating.  Net
proceeds from the note offering are expected to fund the repayment
of outstanding amounts under the company's senior secured
revolving credit facility and for general corporate purposes.  At
the same time, Moody's affirmed the Ba2 rating on the company's
other senior unsecured guaranteed notes.  The rating outlook was
changed to stable from negative.

The Ba1 corporate family rating considers the company's low cost
minimill operating structure and its diversified product mix,
which has shifted in recent years toward higher value-added steel
and specialty alloys.  The rating also acknowledges the sequential
improvement in earnings, beginning in the second half of 2009, as
the company's steel mill and ferrous recycling utilization rates
increased.  Moody's believes that SDI is among the lowest cost
steel producers in the U.S., on a per ton basis, enabling the
company to better manage through periods of low prices and
sluggish demand.  Given the company's five EAF minimills and
vertical integration into downstream fabrication and upstream
scrap and pig iron, Moody's expects the company to exhibit strong
performance when demand and price materially improve.  SDI also
benefits from flexible labor arrangements, the absence of a
defined benefit pension program, and manageable environmental
liabilities.

The stable outlook incorporates Moody's expectation for improving
trends in SDI's sheet and specialty bar products through the first
half of 2010.  Also, given the run-up in scrap prices since mid-
December 2009 coupled with better utilization rates, Moody's
anticipate stronger profitability from the company's metals
recycling operations.  However, Moody's expects the company's
structural steel and downstream fabrication divisions to remain
weak in 2010, and the positive momentum in the company's order
book to date will remain uncertain until sustainable real demand
is evident.

The last rating action on SDI was June 22, 2009, when Moody's
changed the outlook on SDI to negative.

Headquartered in Fort Wayne, Indiana, Steel Dynamics had total
consolidated external steel shipments of approximately 3.8 million
tons and generated revenues of $4 billion in 2009.


STEEL DYNAMICS: S&P Changes Outlook to Stable; Puts 'BB+' Rating
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised the
outlook on Fort Wayne, Indiana-based Steel Dynamics Inc. to stable
from negative and affirmed the ratings.

At the same time, S&P assigned a 'BB+' issue-level rating and '3'
recovery rating to the company's proposed unsecured senior notes.

"The outlook revision reflects S&P's expectation that improvements
in steel demand, particularly for flat rolled products, will
result in improved credit metrics that are more consistent with
the 'BB+' ratings," said Standard & Poor's credit analyst Marie
Shmaruk.

For the rating, given the company's satisfactory business profile,
S&P expects debt to EBITDA below 4.5x and FFO to total debt around
20%, levels S&P expects the company should achieve by the end of
2010.

The ratings on Steel Dynamics reflect the company's exposure to
highly competitive and cyclical markets; aggressive growth plans
that S&P expects could entail significant capital expenditures and
acquisitions; and, until the current downturn, shareholder-
friendly initiatives.  The rating also reflects the company's
relatively high debt burden, modest size relative to competitors,
and volatile steel markets that remain vulnerable to continued
economic weakness.  Still, the company benefits from a very low
cost position, flexible operations and cost structure, and
improved product diversity.


STOCKHAM INTERESTS: Case Summary & 11 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Stockham Interests, LLC
        18 Saxony Lane
        Trenton, NJ 08691

Bankruptcy Case No.: 10-17052

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Debtor's Counsel: Adam G. Rosenberg, Esq.
                  Maureen E. Vells, PA
                  326 Main Street
                  Metuchen, NJ 08840
                  Tel: (732) 494-8200
                  Fax: (732) 494-5077
                  Email: arosenberg@vellalaw.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 $3,260,025,
and total debts of $2,079,807.

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

                 http://bankrupt.com/misc/njb10-17052.pdf

The petition was signed by Todd Colarusso, manager of the Company.


STONY POINT LAND: Case Summary & 3 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Stony Point Land, Inc.
        1927 Hanover Avenue
        Richmond, VA 23220

Bankruptcy Case No.: 10-31740

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Eastern District of Virginia (Richmond)

Judge: Kevin R. Huennekens

Debtor's Counsel: Roy M. Terry, Jr., Esq.
                  DurretteBradshaw PLC
                  1111 East Main Street, 16th Floor
                  Richmond, VA 23219
                  Tel: (804) 775-6948
                  Email: rterry@durrettebradshaw.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
3 largest unsecured creditors, is available for free at:

                 http://bankrupt.com/misc/vaeb10-31740.pdf

The petition was signed by Mark A. Putney, president of the
Company.


SUNGARD DATA: Bank Debt Trades at 1% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which SunGard Data
Systems, Inc., is a borrower traded in the secondary market at
98.70 cents-on-the-dollar during the week ended Friday, March 12,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 1.18 percentage points from the previous week, The Journal
relates.  The Company pays 362.5 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Feb. 28,
2016, and carries Moody's Ba3 rating and Standard & Poor's BB
rating.  The debt is one of the biggest gainers and losers among
193 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

SunGard Data Systems, Inc., headquartered in Wayne, Pennsylvania,
is a provider of software and IT services to the financial
services industry well as higher education institutions and the
public sector.  SunGard also provides disaster recovery/business
continuity services through its Availability Services division.

As stated by the Troubled Company Reporter on Sept. 1, 2009,
Moody's Investors Service affirmed SunGard's 'B2' corporate family
and probability of default ratings, along with its SGL-2
speculative grade liquidity rating.

Standard & Poor's Ratings Services rates (i) SunGard's corporate
rating at 'B+', and its (ii) $2.7 billion tranche B secured term
loan maturing Feb. 28, 2016, and the $580 million secured
revolving credit facility maturing May 11, 2013, at 'BB'.


SUPERIOR PLASTER: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Superior Plaster & Drywall, Inc.
          dba Superior Wall & Ceiling
        8181 W. Brandon Drive
        Littleton, CO 80125

Bankruptcy Case No.: 10-15045

Chapter 11 Petition Date: March 11, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Sidney B. Brooks

Debtor's Counsel: Jeffrey Weinman, Esq.
                  730 17th St., Ste. 240
                  Denver, CO 80202
                  Tel: (303) 572-1010
                  Email: jweinman@epitrustee.com

                  William A. Richey, Esq.
                  730 17th St., Ste. 240
                  Denver, CO 80202
                  Tel: (303) 572-1010
                  Email: lkraai@weinmanpc.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 $4,325,376,
and total debts of $6,076,200.

A list of the Company's 20 largest unsecured creditors is
available for free at:

                  http://bankrupt.com/misc/cob10-15045.pdf

The petition was signed by Richard B. Baker, president of the
company.


SUSSER HOLDINGS: Moody's Affirms Ratings; Gives Negative Outlook
----------------------------------------------------------------
Moody's Investors Service affirmed the credit ratings of Susser
Holdings LLC, but changed the rating outlook to negative from
stable to reflect the potential for a ratings downgrade should the
continued instability in Susser's operating environment cause
credit metrics to remain at weak levels for the longer term.  The
affirmation of the ratings is supported by recent positive trends
in Susser's operating environment, as well as the company's
financial flexibility, good liquidity, and financial policies that
are reasonably protective of creditors' interests.

Ratings could be downgraded should Susser's operating performance
fail to recover from the weak levels reached in the second half of
2009, or if debt used for acquisitions increases to levels no
longer appropriate for its current rating.  Specifically, ratings
could be downgraded if debt to EBITDA is likely to remain above
5.5 times for an extended period, EBITA to interest expense
settles below 1.25 times, or free cash flow is negative for an
extended period.  In addition, ratings could be downgraded if
Susser acquires a company with troubled operating metrics which
increases integration risk.  A change towards a more aggressive
financial policy which would weaken liquidity or result in use of
debt for shareholder returns could also cause ratings to fall.

These ratings were affirmed and points estimates adjusted:

  -- Corporate Family Rating of B1
  -- Possibility of Default Rating of B1
  -- $300 million Senior Unsecured Notes rated B3 (LGD5-76%)

The last rating action for Susser Holdings was the affirmation of
ratings and assignment of ratings to the senior unsecured notes on
December 18, 2008.

Susser Holdings LLC, headquartered in Corpus Christi, Texas,
operates 527 convenience stores in Texas, Oklahoma, and New Mexico
under the Stripes and Town & Country nameplates.  The company is
also the largest wholesale motor fuel distributor in Texas
supplying 381 independent retailers.  The company generates annual
net revenue of approximately $3.2 billion.


SWIFT TRANSPORTATION: Bank Debt Trades at 7% Off
------------------------------------------------
Participations in a syndicated loan under which Swift
Transportation Co., Inc., is a borrower traded in the secondary
market at 93.38 cents-on-the-dollar during the week ended Friday,
March 12, 2010, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 0.94 percentage points from the previous week, The
Journal relates.  The Company pays 325 basis points above LIBOR to
borrow under the facility.  The bank loan matures on March 15,
2014, and carries Moody's B3 rating and Standard & Poor's B-
rating.  The debt is one of the biggest gainers and losers among
193 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

Swift Transportation Co., Inc. -- http://www.swifttrans.com/--
hauls freight such as building materials, paper products, and
retail merchandise throughout the U.S. and in Mexico.  The Company
operates a fleet of about 18,000 tractors and 48,000 trailers from
a network of about 40 terminals.  Its services include dedicated
contract carriage, in which drivers and equipment are assigned to
a customer long-term.  Besides standard dry ans, Swift's fleet
includes refrigerated, flatbed, and other specialized trailers, as
well as about 5,800 intermodal containers.


SWOOZIE'S INC: Taps Clear Thinking Group as Financial Advisor
-------------------------------------------------------------
Swoozie's, Inc., has sought authorization from the U.S. Bankruptcy
Court for the Northern District of Georgia to employ Clear
Thinking Group LLC as financial advisor.

CTG will, among other things:

     a. assist the Debtor in negotiations for DIP financing;

     b. lead and manage the Chapter 11 bankruptcy case on behalf
        of the Debtor;

     c. assist the Debtor with the preparation of the schedules,
        budgets, and court=related reporting; and

     d. assist the Debtor with the sale of assets as required by
        the Debtor.

CTG firm will be paid based on the hourly rates of its personnel:

        Partner                         $400
        Managing Director               $325
        Manager                         $275
        Senior Consultant               $225
        Consultant                      $175
        Analyst                         $125

Lee Diericks, a partner with CTG, assures the Court that the firm
is "disinterested" as that term is defined in Section 101(14) of
the Bankruptcy Code.

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: Gets Permission to Hold An Auction
-------------------------------------------------
Swoozie's, Inc., has received court approval to conduct a sale of
all of its assets.  U.S. Bankruptcy Judge C. Ray Mullins of the
U.S. Bankruptcy Court for the Northern District of Georgia issued
an order on Wednesday, March 10th, allowing Swoozie's to conduct a
sale of its assets.  An auction will be held at the offices of
Alston & Bird, LLP in Atlanta, GA on Thursday, March 25th, 2010,
starting at 10:00 a.m. Eastern Daylight Time.  Qualified Bidders
must submit bids by 12:00 p.m. on Tuesday, March 23rd to be
allowed to participate in the auction.  Judge Mullins also
scheduled a hearing for Monday, March 29 to review the auction
results.

Swoozie's also filed notice with the court that it has received a
bid to purchase all of its assets from Hudson Capital Partners for
approximately $5.340 million.  This bid sets the floor price for
the sale and Swoozie's is seeking higher and better bids prior to
and at the auction.

"This action is a necessary and responsible step to obtain the
best value for all of our stakeholders," said Kelly Plank Dworkin,
CEO of Swoozie's, Inc. Ms. Dworkin also stated, "While this
opening bid contemplates a complete liquidation, we continue to be
encouraged about the level of interest that we have received to
keep the Swoozie's brand and stores operating."

Any parties interested in learning more should contact Swoozie's
legal counsel or financial advisor for additional information.

The company's legal counsel is Dennis Connolly and Wendy Reingold
Reiss of Alston & Bird, LLP and the company's financial advisor is
Lee Diercks of the Clear Thinking Group LLC.

                        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.


TAYLOR BEAN: Creditors Sue BofA for Contract Breach
---------------------------------------------------
The official committee of unsecured creditors of Taylor Bean &
Whitaker Mortgage Corp. has launched an adversary complaint
against Bank of America NA, arguing that the financial giant
breached a purchase agreement related to $778 million in mortgage-
backed securities, Law360 reports.

Taylor, Bean & Whitaker Mortgage Corp. is a 27-year-old company
that grew from a small Ocala-based mortgage broker to become one
of the largest mortgage bankers in the United States.  In 2009,
Taylor Bean was the country's third largest direct-endorsement
lender of FHA-insured loans of the largest wholesale mortgage
lenders and issuer of mortgage backed securities.  It also managed
a combined mortgage servicing portfolio of approximately
$80 billion.  The company employed more that 2,000 people in
offices located throughout the United States.

Taylor Bean filed for Chapter 11 on August 24 (Bankr. M.D. Fla.
Case No. 09-07047).

Taylor Bean has more than $1 billion of both assets and
liabilities, and between 1,000 and 5,000 creditors, according to
the bankruptcy petition.


TISHMAN SPEYER: Bank Debt Trades at 20% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Tishman Speyer
Properties is a borrower traded in the secondary market at 80.17
cents-on-the-dollar during the week ended Friday, March 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.08
percentage points from the previous week, The Journal relates.
The Company pays 175 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Dec. 27, 2012, carries Moody's
Ba2 rating, but is not rated by Standard & Poor's.  The debt is
one of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Tishman Speyer Properties -- http://www.tishmanspeyer.com/-- lays
claim to New York City's Chrysler Building and Rockefeller Center.
The property company invests in, develops, and/or operates
commercial real estate.  Other well known holdings include
Berlin's Q 205 project (the first post-reunification development
in the city's center) and Chicago's Franklin Center (one of the
city's largest office properties).  The company owns or has
developed more than 115 million sq. ft. in Asia, Europe, South
America, and the US since it was founded in 1978.  The company
also has projects in India, China, and Brazil, and owns some
92,000 residential units around the world.


TMRL LLC: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------
Debtor: TMRL, LLC
        9720 Capital Court, Suite 400
        Manassas, VA 20110

Bankruptcy Case No.: 10-11763

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       Eastern District of Virginia (Alexandria)

Judge: Stephen S. Mitchell

Debtor's Counsel: Scott J. Newton, Esq.
                  Stephens, Boatwright, Cooper & Coleman
                  9255 Lee Avenue
                  Manassas, VA 20110
                  Tel: (703) 361-8246
                  Fax: (703) 361-4171
                  Email: newton@manassaslaw.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 $2,222,764,
and total debts of $1,873,502.

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/vaeb10-11763.pdf

The petition was signed by Michael G. Abdo, managing member of the
Company.


TOUSA INC: Sued by Old Trail for Recoupment Payments
----------------------------------------------------
Old Trail Partnership, LLC and SCC-Canyon II, LLC filed an
adversary complaint, seeking declaratory judgment against TOUSA
Homes, Inc., doing business as Engle Homes.

SCC-Canyon is the sole member Old Trail Partnership.

Old Trail Partnership owns a real property in Harford County,
Maryland, which has been subdivided into 56 town home lots for
the ultimate purpose of constructing single family homes.  The
Property is known as the Old Trails subdivision.

TOUSA Homes and the Plaintiffs were parties to certain
agreements:

  * Pursuant to a Construction Agreement between SCC-Canyon and
    TOUSA Homes, SCC-Canyon engaged TOUSA Homes to construct
    certain improvements necessary to create finished Lots in
    the Old Trails Subdivision.

  * SCC-Canyon and TOUSA Homes also entered into an Option
    Agreement, whereby SCC-Canyon agreed to grant TOUSA the
    option to purchase the Lots, subject to certain conditions.

    In connection with the execution of the Option Agreement,
    TOUSA Homes executed and delivered in escrow: (i) a Notice
    of Termination of Option and Quitclaim Deed; and (ii) a
    Builder Assignment and Bill of Sale.  If TOUSA Homes did not
    acquire and complete closings of the Lots in the quantities
    and on or before the time periods under the Option
    Agreement, and that failure was not cured after receipt of
    written notice by SCC-Canyon to TOUSA Homes, TOUSA Homes'
    option to purchase the Lots will immediately terminate.

  * A Builder Assignment and Bill of Sale also provides that
    TOUSA Homes will sell to SCC-Canyon, on an "as is" non-
    exclusive basis, but subject to the Option Agreement, all of
    TOUSA Homes' rights, title and interest in all assets,
    rights, materials, and claims used in connection with the
    Property.

  * Harford County, Old Trail, as owner, and TOUSA Homes, as
    developer, entered into a Public Works Off-Site Utility and
    Recoupment Agreement for the construction of a community
    sewer system to be owned, operated and maintained by the
    County.  The Recoupment Agreement requires the County to
    reimburse the Developer $244,860, as the maximum amount of
    recoupment to which the Developer is entitled from the Old
    Trail Sewer Pumping Station drainage area.

Philip J. Landau, Esq., at Shraiberg, Ferrara & Landau, P.A., in
Boca Raton, Florida, relates that TOUSA Homes defaulted and
failed to perform its obligations under the Construction
Agreement, the Option Agreement and the Recoupment Agreement.
Thus, on October 8, 2007, SCC gave written notice of the default
to TOUSA Homes.  As a result, SCC assumed the obligations of
TOUSA under the Recoupment Agreement, including payment for all
utilities and other developer obligations.  Similarly, the Option
Agreement was deemed terminated as of October 23, 2007, and the
Builder Assignment and Bill of Sale became fully effective.

Mr. Landau further reminds the Court that TOUSA Homes rejected
the Option Agreement in its Chapter 11 case.  He discloses that
Harris County sought guidance on whether the Bankruptcy Court
would require payment of the Recoupment Payments to an entity
other than TOUSA Homes.  The County is still in possession of the
Recoupment Payments and has not indicated whether it will
disburse the funds to TOUSA Homes or to SCC.

In this light, Mr. Landau contends that under applicable non-
bankruptcy law, TOUSA Homes does not have any interest in the
Recoupment Payments nor holds bare legal title to the Recoupment
Payments.  Pursuant to the Builder Assignment and Bill of Sale,
TOUSA assigned to SCC-Canyon all of its rights in connection with
the use, management and development of the Property, he points
out.  Thus, SCC-Canyon has the legal right to, and beneficial
ownership of, the Recoupment Payments that the County has
collected, he insists.

Thus, Old Trail and SCC-Canyon ask the Court to enter:

  (a) preliminary and final orders, declaring that SCC-Canyon
      has the legal right to, and beneficial ownership of, the
      Recoupment Payments; and

  (b) a final order authorizing Harris County to pay the
      Recoupment Payments to Old Trail and SCC-Canyon.

                        About Tousa Inc.

Headquartered in Hollywood, Florida, TOUSA Inc. (Pink Sheets:
TOUS) -- http://www.tousa.com/-- fka Technical Olympic U.S.A.
Inc., dba Technical U.S.A., Inc., Engle Homes, Newmark Homes L.P.,
TOUSA Homes Inc. and Newmark Homes Corp. is a leading homebuilder
in the United States, operating in various metropolitan markets in
10 states located in four major geographic regions: Florida, the
Mid-Atlantic, Texas, and the West.

The Debtor and its debtor-affiliates filed for separate Chapter 11
protection on January 29, 2008 (Bankr. S.D. Fla. Case No. 08-
10928).  The Debtors have selected M. Natasha Labovitz, Esq.,
Brian S. Lennon, Esq., Richard M. Cieri, Esq., and Paul M. Basta,
Esq., at Kirkland & Ellis LLP; and Paul Steven Singerman, Esq., at
Berger Singerman, to represent them in their restructuring
efforts.  Lazard Freres & Co. LLC is the Debtors' investment
banker.  Ernst & Young LLP is the Debtors' independent auditor and
tax services provider.  Kurtzman Carson Consultants LLC acts as
the Debtors' Notice, Claims & Balloting Agent.

TOUSA's direct subsidiary, Beacon Hill at Mountain's Edge LLC dba
Eagle Homes, filed for Chapter 11 Protection on July 30, 2008
(Bankr. S.D. Fla. Case No. 08-20746).  It listed assets between
$1 million and $10 million, and debts between $1 million and
$10 million.


TRIBUNE CO: Wants TRO Against Dan Neil, et al.
----------------------------------------------
Debtor Tribune Company asks the U.S. Bankruptcy Court for the
District of Delaware to enjoin Dan Neil, et al., from seeking any
equitable or declaratory relief that would affect the property of
the company's bankruptcy estate.

Dan Neil, et al., are plaintiffs in a civil action against Samuel
Zell, GreatBanc Trust Company, EGI-TRB, LLC et al., pending before
the United States District Court for the Northern District of
Illinois.

By order of the Bankruptcy Court, the adversary proceeding filed
by the Debtor against Dan Neil, et al., has been stayed pending
resolution by the District Court of Sam Zell, et al.'s Motion to
Dismiss the civil action.

According to Tribune, while the District Court substantially
granted Sam Zell, et al.'s Motion, including dismissing all claims
against the members of Tribune's Board of Directors, the members
of the Employee Benefits Committee, and the Employee Benefits
Committee itself, the District Court permitted the case to go
forward as to certain other claims based on the allegations that
the various transactions by which Tribune completed the Leveraged
Employee Stock Ownership Plan Transactions may have been
prohibited transactions under Employee Retirement Income Security
Act.

Tribune asserts that, although the District Court's decision has
greatly limited the scope of the action and the remedies available
to Dan Neil, et al., the opinion nevertheless allows the
plaintiffs to pursue equitable or declaratory relief that would
directly affect property of the estate and result in
determinations that could bear on issues affecting the bankruptcy
estate.

For this reason, Tribune asks the Bankruptcy Court to enter the
preliminary injunction.

                        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)


TWCC HOLDING: S&P Assigns 'BB' Rating on $1.3 Bil. Loan
-------------------------------------------------------
Standard & Poor's Ratings Services assigned Atlanta, Georgia-based
cable channel company TWCC Holding Corp.'s proposed $1.3 billion
replacement term loan its issue-level rating of 'BB' (two notches
higher than the 'B+' corporate credit rating on the company) with
a recovery rating of '1', indicating S&P's expectation of 90% to
100% recovery for lenders in the event of a payment default.  The
company plans to use the proceeds of the replacement term loan to
refinance its existing term loan and to repay a portion of its
senior subordinated notes, which S&P does not rate.

At the same time, S&P affirmed its 'B+' corporate credit rating on
the company.  The rating outlook is stable.

"The rating affirmation reflects S&P's view that the proposed
transaction is neutral to TWCC's leverage and will slightly
improve the company's relatively weak interest coverage," said
Standard & Poor's credit analyst Deborah Kinzer.

Pro forma for the transaction, TWCC's lease-adjusted leverage is
7.6x as of Sept. 30, 2009, up slightly from 7.5x.  At the same
time, pro forma lease-adjusted EBITDA coverage of total interest
improves to 1.6x for the 12 months ended Sept. 30, 2009, from
1.3x.

The 'B+' corporate credit rating on TWCC reflects the company's
high debt leverage and thin interest coverage, its business
concentration, and limited growth potential because of its almost
full penetration of cable TV households.  Modest positive factors
in the rating are the company's good EBITDA margin and its leading
position in 24-hour local weather reporting on TV and through
interactive and mobile media.


UNITED AIR LINES: Bank Debt Trades at 16% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which United Airlines,
Inc., is a borrower traded in the secondary market at 83.75 cents-
on-the-dollar during the week ended Friday, March 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 2.00
percentage points from the previous week, The Journal relates.
The Company pays 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Feb. 13, 2013, and carries
Moody's B3 rating and Standard & Poor's B+ rating.  The debt is
one of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

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 before the Committee was
dissolved when the Debtors emerged from bankruptcy.

Judge Eugene R. Wedoff confirmed the Debtors' Second Amended Plan
on Jan. 20, 2006.  The company emerged from bankruptcy protection
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.


US FIDELIS: Missouri Attorney General Wants Ch. 11 Trustee
----------------------------------------------------------
Chris Koster, General Attorney of Missouri, asked a federal
bankruptcy court to appoint an independent trustee to oversee U.S.
Fidelis' Chapter 11 case to protect the company's assets from
customers, according to Business Journal of St. Louis.

Mr. Koster said there is a need for financial examination of the
company, noting concerns about explicit business practices
intended to defraud consumer, report notes.

According to ABI, Mr. Koster claims that US Fidelis intentionally
shortchanged its customers, and the firm's owners illegally
plundered the company for personal gain.

Wentzville, Missouri-based US Fidelis, Inc., is a marketer of
vehicle service contracts developed by independent and unrelated
companies.  The Company filed for Chapter 11 bankruptcy protection
on March 1, 2010 (Bankr. E.D. Mo. Case No. 10-41902).  Robert E.
Eggmann, Esq., at Lathrop & Gage, assists the Company in its
restructuring effort.  According to the schedules, the Company has
assets of $74,386,836, and total debts of $25,770,655.


VALENCE TECHNOLOGY: Has 180 Days to Meet Nasdaq Minimum Bid Price
-----------------------------------------------------------------
Valence Technology, Inc., received written notice Monday from The
NASDAQ Stock Market that it is not in compliance with the $1.00
minimum bid price requirement for continued listing on the NASDAQ
Capital Market, as set forth in Listing Rule 5550(a)(2).  The
notice has no effect on the listing of the Company's common stock
at this time, and its common stock will continue to trade on the
NASDAQ Capital Market under the symbol "VLNC."

The Company will be provided 180 calendar days, or until
September 7, 2010, to regain compliance.  To regain compliance,
the bid price of the Company's common stock must close at $1.00 or
higher for a minimum of 10 consecutive business days within the
stated 180-day period.  If the Company is not in compliance by
September 7, 2010, the Company may be afforded a second 180
calendar day grace period if it meets the NASDAQ Capital Market
initial listing criteria (except for the minimum bid price
requirement), as set forth in Listing Rule 5810(c)(3)(A).  If it
otherwise meets the initial listing criteria, NASDAQ will notify
the Company that it has been granted an additional 180 calendar
day compliance period.

If the Company does not regain compliance within the allotted
compliance period(s), including any extensions that may be granted
by NASDAQ, the Company's common stock will be subject to delisting
from the NASDAQ Capital Market.  The Company would then be
entitled to appeal the NASDAQ Staff's determination to a NASDAQ
Listing Qualifications Panel and request a hearing.

                   About Valence Technology

Headquartered in Austin, Texas, Valence Technology, Inc.
-- http://www.valence.com/-- develops safe, long life
lithium iron magnesium phosphate energy storage solutions.
Valence Technology is traded on the NASDAQ Capital Market under
the ticker symbol VLNC.

                      Going Concern Doubt

The Company has incurred operating losses each year since its
inception in 1989 and had an accumulated deficit of $570.1 million
as of September 30, 2009.  For the three and six month periods
ended September 30, 2009, the Company sustained net losses
available to common stockholders of $6.2 and $12.4 million,
respectively.  For the three and six month periods ended
September 30, 2008, the Company sustained net losses available to
common stockholders of $6.2 and $11.8 million, respectively.  The
Company believes these factors, among others, raise substantial
doubt about its ability to continue as a going concern.


VASO ACTIVE: Files for Chapter 11 in Delaware
---------------------------------------------
BankruptcyData reports that Vaso Active Pharmaceuticals filed for
Chapter 11 protection (Bankr. D. Del. Case No. 10-10855).  The
Company, which sells and markets pharmaceutical products, is
represented by Michael R. Lastowski of Duane Morris and Thomas H.
Curran of Hinckley, Allen & Snyder.

The petition declares, "That in the judgment of the Board, it is
in the best interests of the Corporation, its creditors,
stockholders, employees and other interested parties that the
Corporation seek relief under Chapter 11 of Title 11 of the United
States Code, 11 U.S.C.  101 et seq."

Vaso Active Pharmaceuticals, Inc. (OTC:VAPH) is a company focused
on commercializing, marketing and selling over-the-counter (OTC)
pharmaceutical products.  Vaso Active Pharmaceuticals owns the
exclusive OTC worldwide license to use and practice a patented
vaso active lipid encapsulated (VALE) technology.  The technology
uses an active process incorporating chemical vasodilators to
deliver drugs through the skin and into the bloodstream.
PENtoCORE technology is a topical formulation, in contrast to the
VALE transdermal technology.  Vaso Active Pharmaceuticals is
marketing three products that incorporate the PENtoCORE
technology: OSTEON, A-R EXTREME and TERMIN8.  OSTEON is a OTC
external analgesic designed to provide temporary relief from the
muscular-skeletal pain associated with arthritis. A-R EXTREME is
an OTC external analgesic designed to provide temporary relief
from the muscle and joint pain associated with athletic activity.
TERMIN8 is an OTC antifungal lotion designed to treat athlete's
foot.


VERENIUM CORP: Posts $3.0 Million Net Loss in Q4 2009
-----------------------------------------------------
Verenium Corporation reported Thursday financial results for the
fourth quarter and year ended December 31, 2009.

Net loss attributed to Verenium for the quarter and year ended
December 31, 2009, was $3.0 million and $21.9 million,
respectively, compared to $11.9 million and $176.5 million for the
same periods in 2008.  Adjusted for the non-cash impact of
accounting related to the 8% and 9% convertible notes and non-cash
goodwill impairment charge, the Company's non-GAAP pro-forma net
loss for the quarter and year ended December 31, 2009, was
$3.5 million and $40.1 million, as compared to $14.1 million and
$70.1 million for the same periods in the prior year.  The Company
believes that excluding the non-cash impact of these items
provides a more consistent measure of operating results.

Total revenues for the fourth quarter and year ended December 31,
2009, were $16.6 million and $65.9 million, respectively, compared
to $19.7 million and $69.7 million for the same periods in the
prior year, with product revenues representing more than 60
percent of total revenues in all periods.

"I am pleased to report that although 2009 was a challenging year
both from an economic and industry perspective, Verenium remained
focused on its overall goals and continued to execute against key
corporate initiatives," said Carlos A. Riva, President and Chief
Executive Officer of Verenium.  "Verenium made significant
progress throughout 2009 creating a stronger business platform and
better positioning it for future commercial success."

"The growth we achieved in our product gross margin dollars in
2009 demonstrates the underlying strength of our enzyme business,"
said James E. Levine, Executive Vice President and Chief Financial
Officer.  "We look forward to further progress in 2010."

Product revenues for the fourth quarter and year ended
December 31, 2009, were $11.9 million and $44.0 million,
respectively, compared to $12.1 million and $49.1 million for same
periods in the prior year, representing a 2% decrease for the
fourth quarter and 10% decrease for the year ended December 31,
2009, primarily reflecting the impact of a shift in a portion of
manufacturing volume of Phyzyme from the Company's toll
manufacturing facility in Mexico City to Genencor's manufacturing
facility.  Pursuant to current accounting rules, for sales of
Phyzyme manufactured by Genencor, an affiliate of Danisco, the
Company recognizes revenue only for the amount of the royalty from
Danisco, whereas for product supplied through the toll
manufacturing facility in Mexico City, the Company recognizes
revenue for the sale of the product to Danisco at cost, along with
the royalty revenue.  The decrease in product revenue for the year
ended December 31, 2009, also reflects the Company's
discontinuation of its Bayovac-SRS and Quantum product lines
during early 2008.  The decrease in these product revenues was
offset in part by an increase in revenues from the Company's
Fuelzyme, Veretase and Xylathin enzymes.

Product gross margin dollars increased in the fourth quarter and
for the full year ended December 31, 2009, versus the same periods
in the prior year, due primarily to an increase in Phyzyme
royalties from Danisco, a shift in product mix to higher margin
products and a reduction in inventory losses compared to 2008
related to contamination issues in the Phyzyme enzyme
manufacturing process, which resulted in a lower product gross
margin dollars in 2008.

Excluding cost of product revenues, total operating expenses
decreased to $20.4 million and $102.3 million for the fourth
quarter and year ended December 31, 2009, from $30.7 million and
$214.4 million for the fourth quarter and year ended December 31,
2008.  The year-over-year decrease in total gross operating
expenses (excluding cost of product revenues) relates primarily to
the $106.1 million non-cash goodwill impairment charge recorded in
September 2008.  Excluding the goodwill impairment charge, total
operating expenses (excluding cost of product revenues) decreased
$5.9 million for the year ended December 31, 2009, as compared to
the same period in 2008, primarily due to aggressive expense
management.  Total operating expenses include gross expenses
incurred to support ongoing development related to the Company's
consolidated joint ventures with BP, Galaxy and Vercipia.  BP's
share of the total operating expenses of the joint ventures was
$8.8 million and $34.3 million for the fourth quarter and year
ended December 31, 2009, and $7.5 million and $12.5 million for
the fourth quarter and year ended December 31, 2008, and is
included below operating expenses as "Loss attributed to non-
controlling interest in consolidated entities" on the Company's
consolidated income statement.  On a non-GAAP basis, net of BP's
share of expenses, pro forma net operating expenses decreased as
compared to prior periods, reflecting the cost sharing and the
Company's expense minimization efforts.

Interest expense related almost exclusively to the cash and non-
cash interest expense from the Company's convertible debt
instruments.  Of total net interest expense for the fourth quarter
and year ended December 31, 2009, roughly $500,000 and
$4.0 million, respectively, represents non-cash interest expense
related to the Company's convertible notes, compared to
$1.6 million and $5.4 million in non-cash interest for the same
periods in 2008.

As of December 31, 2009, the Company had unrestricted cash and
cash equivalents totaling approximately $32.1 million, of which
$7.2 million was held by the Company's consolidated joint venture
with BP, Vercipia, which is available solely for the operations of
Vercipia.

The Company's balance sheet as of Dec. 31, 2009, showed
$167.9 million, $137.7 million of debts, and $30.2 million of
stockholders' equity.

A full-text copy of the Company's press release is available for
free at http://researcharchives.com/t/s?58a9

                       About Verenium Corp.

Cambridge, Mass.-based Verenium Corporation (NASDAQ: VRNM)
-- http://www.verenium.com/-- is engaged in the development and
commercialization of cellulosic ethanol, an environmentally-
friendly and renewable transportation fuel, as well as high-
performance specialty enzymes for applications within the
biofuels, industrial, and animal health markets.

                 Going Concern/Bankruptcy Warning

The Company has incurred a net loss of $18.9 million for the nine
months ended September 30, 2009, and has an accumulated deficit of
$632.5 million as of September 30, 2009.

Based on the Company's current operating plan, which includes
payments to be received by the Company or its consolidated
entities from BP relating to the first and second phases of the
strategic partnership, as well as proceeds from the Company's
recent equity financing, the Company says its existing working
capital may not be sufficient to meet the cash requirements to
fund the Company's planned operating expenses, capital
expenditures, required and potential payments under the 2007
Notes, the 2008 Notes, and the 2009 Notes, and working capital
requirements through 2010 without additional sources of cash
and/or the deferral, reduction or elimination of significant
planned expenditures.  These factors raise substantial doubt about
the Company's ability to continue as a going concern.

The Company adds that while it believes that it will be successful
in raising or generating additional cash through a combination of
corporate partnerships and collaborations, federal, state and
local grant funding, selling or financing assets, incremental
product sales and the additional sale of equity or debt
securities, if it is unsuccessful in raising additional capital
from any of these sources, it may need to defer, reduce or
eliminate certain planned expenditures, restructure or
significantly curtail its operations, file for bankruptcy or cease
operations.


VERIFONE INC: S&P Raises Corporate Credit Rating to 'BB-'
---------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on San Jose, California-based electronic payment
solutions provider VeriFone Inc. and VeriFone Holdings Inc. to
'BB-' from 'B+'.

"The upgrade reflects the company's improved financial
performance, moderate leverage, and good liquidity," said Standard
& Poor's credit analyst Martha Toll-Reed.  The outlook is stable.

The ratings on VeriFone reflect a relatively narrow business
profile, S&P's expectation that a weak macroeconomic environment
will continue to suppress revenue growth, and a moderately
leveraged financial profile.

"The company's leading position in the niche market for electronic
payment solutions, improved operating performance, and leverage
that is commensurate with the rating partially offset these
factors," added Ms. Toll-Reed.


VISTEON CORP: Ford Correctly Classified Ex-Visteon Workers
----------------------------------------------------------
Law360 reports that a federal appeals court has ruled that Ford
Motor Co. did not misclassify longtime workers or deny them proper
retirement benefits when it regained direct control over much of
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)


WALL MANAGEMENT: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Wall Management, Incorporated
        537 Churchill Park Drive
        San Jose, CA 95136-2822

Bankruptcy Case No.: 10-52418

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Northern District of California (San Jose)

Judge: Roger L. Efremsky

Debtor's Counsel: Wayne A. Silver, Esq.
                  Law Offices of Wayne A. Silver
                  333 W El Camino Real #310
                  Sunnyvale, CA 94087
                  Tel: (408) 720-7007
                  Email: w_silver@sbcglobal.net

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

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

A list of the Company's 20 largest unsecured creditors is
available for free at:

                  http://bankrupt.com/misc/canb10-52418.pdf

The petition was signed by Kenneth J. Wall, president of the
company.


WASHINGTON MUTUAL: Reaches Global Settlement with JP Morgan
-----------------------------------------------------------
Washington Mutual, Inc., has reached a Global Settlement Agreement
with J.P. Morgan Chase and the Federal Deposit Insurance
Corporation (FDIC).  The significant terms of the settlement have
been read into the record of the United States Bankruptcy Court
for the District of Delaware, the court overseeing Washington
Mutual, Inc.'s chapter 11 bankruptcy case.

Washington Mutual said, "WMI is pleased to have reached this
Global Settlement Agreement.  WMI is confident that this agreement
will provide substantial recoveries for the company's creditors
and that it is consistent with WMI's efforts over the last 18
months to maximize the value of its bankruptcy estate.  WMI is
also pleased that this agreement vindicates the positions it took
in court, as the company believes that its court positions created
the pressure necessary to move this agreement forward."

Peter Calamari and David Elsberg of Quinn Emanuel Urquhart Oliver
& Hedges, LLP served as legal counsel to WMI with responsibility
for the litigation. Brian Rosen of Weil, Gotshal & Manges LLP
served as legal counsel to WMI with responsibility for the chapter
11 case.

                    About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment listed assets of $500,000,000
to $1,000,000,000 with zero debts.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WESTERN REFINING: Bank Debt Trades at 8% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Western Refining,
Inc., is a borrower traded in the secondary market at 92.39 cents-
on-the-dollar during the week ended Friday, March 12, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 1.75
percentage points from the previous week, The Journal relates.
The Company pays 600 basis points above LIBOR to borrow under the
facility.  The bank loan matures on May 31, 2014, and carries
Moody's B3 rating and Standard & Poor's BB- rating.  The debt is
one of the biggest gainers and losers among 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Western Refining, Inc., headquartered in El Paso, Texas, is an
independent refining and marketing company.  Western owns and
operates a 128,000-barrel per day low complexity light sweet
refinery at El Paso, Texas, a medium sized relatively complex
coking refinery at Yorktown, Virginia, and two very small light
sweet crude oil refineries in the Four Corners region of New
Mexico.


WESTMORELAND COAL: Posts $29.2 Million Net Loss in 2009
-------------------------------------------------------
Westmoreland Coal Company filed its annual report on Form 10-K,
showing a net loss of $29.2 million on $443.4 million of revenue
for 2009, compared with a net loss of $48.6 million on
$509.7 million of revenue for 2008.

The Company's balance sheet as of Dec. 31, 2009, showed
$772.7 million in assets and $914.5 million of debts, for a
stockholders' deficit of $141.8 million.

KPMG LLP, in Denver, 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, working capital deficit and net capital deficiency.

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

                   http://researcharchives.com/t/s?58c3

Colorado Springs, Colo.-based Westmoreland Coal Company is an
energy company employing 1,109 employees whose operations include
five surface coal mines in Montana, North Dakota and Texas and two
coal-fired power generating units with a total capacity of 230
megawatts in North Carolina.


WF DEVELOPMENT: Case Summary & 7 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: WF Development, LLC
        2281 East Postal Road
        Pahrump, NV 89048

Bankruptcy Case No.: 10-13933

Chapter 11 Petition Date: March 11, 2010

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

Judge: Linda B. Riegle

Debtor's Counsel: Matthew L. Johnson, Esq.
                  Matthew L. Johnson & Associates, P.C.
                  8831 W. Sahara Ave.
                  Las Vegas, NV 89117
                  Tel: (702) 471-0065
                  Fax: (702) 471-0075
                  Email: bankruptcy@mjohnsonlaw.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 $5,751,900,
and total debts of $8,597,013.

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

                  http://bankrupt.com/misc/nvb10-13933.pdf

The petition was signed by James C. Wulfenstein, manager of the
Company.


WHEELER HOSPITALITY: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Wheeler Hospitality, Inc.
        1424 Riverside Road
        Roanoke, TX 75262-4409

Bankruptcy Case No.: 10-20166

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Amarillo)

Judge: Robert L. Jones

Debtor's Counsel: Bill Kinkead, Esq.
                  Kinkead Law Offices
                  6937 Bell St., Suite G
                  Amarillo, TX 79109
                  Tel: (806) 353-2129
                  Fax: (806) 353-4370
                  Email: bkinkead713@hotmail.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 Harish Patel, president of the Company.


WHOLESALE PROPERTIES: Case Summary & 19 Largest Unsec. Creditors
----------------------------------------------------------------
Debtor: Wholesale Properties II, LLC
        4300 Interstate 35 - E North
        Waxihachie, TX 75154

Bankruptcy Case No.: 10-31790

Type of Business:

Chapter 11 Petition Date: March 12, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Barbara J. Houser

Debtor's Counsel: Mark Joseph Petrocchi, Esq.
                  Griffith, Jay & Michel, LLP
                  2200 Forest Park Blvd.
                  Ft. Worth, TX 76110
                  Tel: (817)926-2500
                  Fax: (817)926-2505
                  Email: mpetrocchi@lawgjm.com

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

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

The petition was signed by James P. Moon, the company's manager.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                    Petition
  Debtor                               Case No.      Date
  ------                               --------      ----
Wholesale Properties I, LLC            10-31787      3/12/10
  Assets: $1 million to $10 million
  Debts:  $1 million to $10 million

A. Wholesale Properties II, LLC's List of 19 Largest Unsecured
Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Ansh, Inc.                 Lease Agreement;       Unknown
1759 S. Green St.          Management Fee
Henderson, KY 42420        Agreement

Atmos Energy               Trade Debt             Unknown
2401 New Hartford Road
Owensboro, KY 42303-1312

Ben Johnston               Possible Claims        Unknown
1 Watertank Place          against Wholesale
Henderson, KY 42420        Petroleum, Inc.
                           (former parent
                           entity of Debtor)

Charles "Larry" Clark      Guarantor on           Unknown
4430 Lake Forest Drive     Company Debt ot
Owensboro, KY 42303        GP Warehouse
                           Funding, LLC

City of Owensboro          Property Taxes         Unknown
Tax Assesssor-Collector
101 E. 4th Street
Owensboro, KY 42303

Dalton Hill Partners, LLC  Predecessor lender     Unknown
c/o Bob Hamlin             to Wholesale
PO Box 1150                Petroleum
Red Oak, TX 75154          Partners, L.P.

Daviess County Fiscal      Property Taxes         Unknown
Court
212 St. Ann St.
Room 202
Owensboro, KY 42303

Daviess County Public      Property Taxes         Unknown
Schools
1622 Southeastern Parkway
Owensboro, KY 42303

Daviess County PVA         Property Taxes         Unknown
212 St. Ann St.
Room 202
Owensboro, KY 42303

Don Johnston               Possible Claims        Unknown
1 Watertank Place          against Wholesale
Henderson, KY 42420        Petroleum, Inc.
                           (former parent
                           entity of Debtor)

Fast Fuel Distribution,    Trade Debt             $24,000
LLC
PO Box 1150
Red Oak, TX 75154

GP Warehouse Funding, LLC  This Loan is secured   $4,296,921
1255 Corporate Center      by the real property   ($950,000
Drive, PH10                and improvements       secured)
Monterey Park, CA 91754    listed in Schedule
                           D-1.

Grand Pacific Finance      Possible claims        Unknown
Corporation                as original lender
41-99 Mian Street          on indebtedness now
2nd Floor                  held by GP Warehouse
Flushing, NY 11355         Funding, LLC

Gregory W. Ginn PC CPA     Accounting Services    $5,400

Hancock County PVA         Property Taxes         Unknown

Hancock County Sheriff     Property Taxes         Unknown

Hinderliter Construction   Mechanic's Lien        $10,156
c/o Mark Hinderliter       Claims                (Unknown
                                                  secured)

OMU                        Trade Debt-Utilites    $970

SMR Environmental          Claims against         $9,128
Services LLC               Wholesale Petroleum,
c/o Jason Anderson         Inc. (former parent
                           entity of Debtor) for
                           environmental services
                           on 1710 E. Parrish Ave.,
                           Owensboro, KY

Wholesale Petroleum        Possible Claims        $685,000
Distribution, LLC          against Wholesale
c/o Thomas A. Carroll      Petroleum, Inc.
227 St. Ann Street         (former parent
Suite 224                  entity of Debtor)
Owensboro, KY 42303


B. Wholesale Properties I, LLC's List of 20 Largest Unsecured
Creditors:

  Entity                   Nature of Claim        Claim Amount
  ------                   ---------------        ------------
Atmos Energy               Trade Debt             Unknown
2401 New Hartford Road
Owensboro, KY 42303

Ben Johnston               Possible Claims        Unknown
1 Watertank Place          against Wholesale
Henderson, KY 42420        Petroleum, Inc.
                           (former parent
                            entity of Debtor)

Charles "Larry" Clark      Guarantor on           Unknown
4430 Lake Forest Drive     Company Debt ot
Owensboro, KY 42303        GP Warehouse
                           Funding, LLC

City of Henderson          Property Taxes         Unknown
Henderson Municipal Center
222 First St., 1st Floor
Henderson, KY 42420

City of Owensboro          Property Taxes         Unknown
Tax Assesssor-Collector
101 E. 4th Street
Owensboro, KY 42303

Dalton Hill Partners, LLC  Predecessor lender     Unknown
c/o Bob Hamlin             to Wholesale
PO Box 1150                Petroleum
Red Oak, TX 75154          Partners, L.P.

Daviess County Fiscal      Property Taxes         Unknown
Court
212 St. Ann St.
Room 202
Owensboro, KY 42303

Daviess County Public      Property Taxes         Unknown
Schools
Tax Office
1622 Southeastern Parkway
Owensboro, KY 42303

Daviess County PVA         Property Taxes         Unknown
212 St. Ann St.
Room 102
Owensboro, KY 42303

Department of Revenue      Taxes                  Unknown
Commonwealth of Kentucky
1024 Capitol Center Dr.
Frankfort, KY 40602

Don Johnston               Possible Claims        Unknown
1 Watertank Place          against Wholesale
Henderson, KY 42420        Petroleum, Inc.
                           (former parent
                            entity of Debtor)

Fast Fuel Distribution,    Trade Debt             $24,000
LLC
PO Box 1150
Red Oak, TX 75154

Grand Pacific Finance      Possible claims        Unknown
Corporation                as original lender
41-99 Mian Street          on indebtedness now
2nd Floor                  held by GP Warehouse
Flushing, NY 11355         Funding, LLC

Gregory W. Ginn PC CPA     Accounting Services    $5,400

Hinderliter Construction   1710 & 1734 E.         $10,156
c/o Mark Hinderliter       Parrish Ave.           ($2,850,000
3601 N. St. Joseph Ave.    Owensboro,              secured)
Evansville, IN 47720       Kentucky 42303         ($3,910,335
                                                   senior lien)
                           1733 S. Green St.,
                           Henderson KY

OMU                        Trade Debt-Utilites     $970

SMR Environmental          Claims against          $9,128
Services LLC               Wholesale Petroleum,
c/o Jason Anderson         Inc. (former parent
                           entity of Debtor) for
                           environmental services
                           on 1710 E. Parrish Ave.,
                           Owensboro, KY

Suellen Trunnell           1710 & 134 E.          $1,050,000
c/o Thomas A. Carroll      Parrish Ave.           ($2,850,000
227 St. Ann Street         Owensboro,             secured)
Suite 24                   Kentucky 42303         ($2,860,335
Owensboro, KY 42303                               senior lien)
                           1733 S. Green St.,
                           Henderson KY

                           431 Breckenridge,
                           Owensboro, KY

Wholesale Petroleum        Possible Claims        $685,000
Distribution, LLC          against Wholesale
c/o Thomas A. Carroll      Petroleum, Inc.
227 St. Ann Street         (former parent
Suite 224                  entity of Debtor)
Owensboro, KY 42303

Wholesale Petroleum        1710 & 134 E.          $921,000
Partners, L.P.             Parrish Ave.           ($2,850,000
PO Box 150                 Owensboro,             secured)
Red Oak, TX 75154          Kentucky 42303         ($1,939,335
                                                  senior lien)
                           1733 S. Green St.,
                           Henderson KY

                           431 Breckenridge,
                           Owensboro, KY


YRC WORLDWIDE: Credit Suisse Holds 5.3% of Common Stock
-------------------------------------------------------
Credit Suisse AG disclosed that as of December 31, 2009, it may be
deemed to beneficially own 3,205,681 shares or roughly 5.3% of the
common stock of YRC Worldwide Inc.

YRC Worldwide Inc., a Fortune 500 company headquartered in
Overland Park, Kan., -- http://yrcw.com/-- is one of the largest
transportation service providers in the world and the holding
company for a portfolio of successful brands including YRC, YRC
Reimer, YRC Glen Moore, YRC Logistics, New Penn, Holland and
Reddaway.  YRC Worldwide has the largest, most comprehensive
network in North America with local, regional, national and
international capabilities.  Through its team of experienced
service professionals, YRC Worldwide offers industry-leading
expertise in heavyweight shipments and flexible supply chain
solutions, ensuring customers can ship industrial, commercial and
retail goods with confidence.

At September 30, 2009, the Company had $3.281 billion in total
assets against total current liabilities of $1.687 billion, long-
term debt, less current portion of $892.0 million, deferred
income taxes, net of $131.4 million, pension and post retirement
of $384.9 million, and claims and other liabilities of
$410.2 million, resulting in shareholders' deficit of
$225.5 million.

                           *     *     *

According to the Troubled Company Reporter on Feb. 26, 2010, Fitch
Ratings has assigned a rating of 'C/RR6' to YRC Worldwide's
new 6% senior unsecured convertible notes due 2014.  The first
tranche of new notes, totaling $49.8 million, was issued on
Feb. 23, 2010.  Proceeds from this tranche will be used to repay
the $45 million in remaining outstanding principal on YRC Regional
Transportation Inc.'s 8.5% senior secured notes (known as the USF
notes).

As reported by the TCR on January 14, 2010, Standard & Poor's
Ratings Services raised its corporate credit rating on YRC
Worldwide to 'CCC-' from 'SD' (selective default).  At the same
time, S&P raised the senior unsecured issue-level ratings to 'CC'
from 'D' on the company's remaining notes that were subject to the
exchange offer, as well as a '6' recovery rating, indicating
negligible (0%-10%) recovery of principal in a payment default
scenario.  The company has issued a combination of common and
preferred equity in exchange for the existing notes.


YRC WORLDWIDE: Wells Fargo Holds 3.52% of Common Stock
------------------------------------------------------
Wells Fargo and Company disclosed that as of January 31, 2010, it
may be deemed to beneficially own 3,401,229 shares or roughly
3.52% of the common stock of YRC Worldwide Inc.

YRC Worldwide Inc., a Fortune 500 company headquartered in
Overland Park, Kan., -- http://yrcw.com/-- is one of the largest
transportation service providers in the world and the holding
company for a portfolio of successful brands including YRC, YRC
Reimer, YRC Glen Moore, YRC Logistics, New Penn, Holland and
Reddaway.  YRC Worldwide has the largest, most comprehensive
network in North America with local, regional, national and
international capabilities.  Through its team of experienced
service professionals, YRC Worldwide offers industry-leading
expertise in heavyweight shipments and flexible supply chain
solutions, ensuring customers can ship industrial, commercial and
retail goods with confidence.

At September 30, 2009, the Company had $3.281 billion in total
assets against total current liabilities of $1.687 billion, long-
term debt, less current portion of $892.0 million, deferred
income taxes, net of $131.4 million, pension and post retirement
of $384.9 million, and claims and other liabilities of
$410.2 million, resulting in shareholders' deficit of
$225.5 million.

                           *     *     *

According to the Troubled Company Reporter on Feb. 26, 2010, Fitch
Ratings has assigned a rating of 'C/RR6' to YRC Worldwide's
new 6% senior unsecured convertible notes due 2014.  The first
tranche of new notes, totaling $49.8 million, was issued on
Feb. 23, 2010.  Proceeds from this tranche will be used to repay
the $45 million in remaining outstanding principal on YRC Regional
Transportation Inc.'s 8.5% senior secured notes (known as the USF
notes).

As reported by the TCR on January 14, 2010, Standard & Poor's
Ratings Services raised its corporate credit rating on YRC
Worldwide to 'CCC-' from 'SD' (selective default).  At the same
time, S&P raised the senior unsecured issue-level ratings to 'CC'
from 'D' on the company's remaining notes that were subject to the
exchange offer, as well as a '6' recovery rating, indicating
negligible (0%-10%) recovery of principal in a payment default
scenario.  The company has issued a combination of common and
preferred equity in exchange for the existing notes.


YRC WORLDWIDE: To Effect Reverse Stock Split in 2nd Quarter
-----------------------------------------------------------
William D. Zollars, Chairman and Chief Executive Officer of YRC
Worldwide Inc., said the Company expects to effect a reverse stock
split during the second quarter of 2010.  The approved range is
25:1 to 5:1.

Mr. Zollars made the disclosure at a Company presentation at the
JPMorgan Aviation, Transportation & Defense Conference on March 9,
2010.

A full-text copy of the slide show is available at no charge
at http://ResearchArchives.com/t/s?58ab

YRC Worldwide Inc., a Fortune 500 company headquartered in
Overland Park, Kan., -- http://yrcw.com/-- is one of the largest
transportation service providers in the world and the holding
company for a portfolio of successful brands including YRC, YRC
Reimer, YRC Glen Moore, YRC Logistics, New Penn, Holland and
Reddaway.  YRC Worldwide has the largest, most comprehensive
network in North America with local, regional, national and
international capabilities.  Through its team of experienced
service professionals, YRC Worldwide offers industry-leading
expertise in heavyweight shipments and flexible supply chain
solutions, ensuring customers can ship industrial, commercial and
retail goods with confidence.

At September 30, 2009, the Company had $3.281 billion in total
assets against total current liabilities of $1.687 billion, long-
term debt, less current portion of $892.0 million, deferred
income taxes, net of $131.4 million, pension and post retirement
of $384.9 million, and claims and other liabilities of
$410.2 million, resulting in shareholders' deficit of
$225.5 million.

                           *     *     *

According to the Troubled Company Reporter on Feb. 26, 2010, Fitch
Ratings has assigned a rating of 'C/RR6' to YRC Worldwide's
new 6% senior unsecured convertible notes due 2014.  The first
tranche of new notes, totaling $49.8 million, was issued on
Feb. 23, 2010.  Proceeds from this tranche will be used to repay
the $45 million in remaining outstanding principal on YRC Regional
Transportation Inc.'s 8.5% senior secured notes (known as the USF
notes).

As reported by the TCR on January 14, 2010, Standard & Poor's
Ratings Services raised its corporate credit rating on YRC
Worldwide to 'CCC-' from 'SD' (selective default).  At the same
time, S&P raised the senior unsecured issue-level ratings to 'CC'
from 'D' on the company's remaining notes that were subject to the
exchange offer, as well as a '6' recovery rating, indicating
negligible (0%-10%) recovery of principal in a payment default
scenario.  The company has issued a combination of common and
preferred equity in exchange for the existing notes.


ZALE CORP: Finlay Bankruptcy Gives Rise to Rent Liabilities
-----------------------------------------------------------
In connection with the sale of the Bailey Banks & Biddle brand in
November 2007, Zale Corporation assigned the brand's store
operating leases to the buyer, Finlay Fine Jewelry Corporation.
As a condition of this assignment, Zale remained contingently
liable for the leases for the remainder of the respective lease
terms, which generally ranged from fiscal 2010 through fiscal
2017.  On August 5, 2009, Finlay filed for Chapter 11 bankruptcy
protection and subsequently decided to liquidate.  Zale said the
maximum potential liability for base rent payments under the
remaining 19 leases totaled roughly $35 million as of January 31,
2010.

In a regulatory filing on Friday, Zale said that as of March 11,
2010, it finalized agreements or reached agreements in principle
with landlords to settle the contingent lease obligations for 12
of the remaining 19 leases, including obligations with respect to
common area maintenance and other charges.  Base rents for the
other seven leases totaled roughly $26 million as of January 31,
2010.  Settlements with respect to the contingent obligations for
the remaining seven locations are still under negotiation, Zale
said in a Form 10-Q filed with the Securities and Exchange
Commission for the quarterly period ended January 31, 2010.

During fiscal 2010 and 2009, Zale recorded lease termination
charges related to the Bailey Banks & Biddle contingent lease
obligations and certain store closures primarily in Zale's Fine
Jewelry segment.  The charges were based on preliminary agreements
reached with the landlords and expectations of future payments
required to settle the remaining leases.  In estimating the lease
termination charges, certain assumptions were used including the
period of time that would be required to finalize agreements with
the landlords and the payments that would be required to terminate
the leases.  Zale was not able to finalize agreements with all of
the landlords, and certain landlords have made demands, or
initiated legal proceedings to collect the remaining base rent
payments associated with the terminated leases.  Zale believes the
amounts reserved as of January 31, 2010, are sufficient to satisfy
future payments required to terminate the leases.  However, while
Zale believes it has made reasonable estimates and assumptions to
record these charges, it is possible a material change could occur
and Zale may be required to record additional charges.

A full-text copy of Zale's quarterly report on Form 10-Q is
available at no charge at http://ResearchArchives.com/t/s?58ac

                     About Zale Corporation

Dallas, Texas-based Zale Corporation (NYSE: ZLC) --
http://www.zalecorp.com/-- is a specialty retailer of diamonds
and other jewelry products in North America, operating roughly
1,900 retail locations throughout the United States, Canada and
Puerto Rico, as well as online.  Zale Corporation's brands include
Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples
Jewellers, Mappins Jewellers and Piercing Pagoda.  Zale also
operates online at www.zales.com, www.zalesoutlet.com and
www.gordonsjewelers.com

As reported by the Troubled Company Reporter on February 10, 2010,
The Deal.com's Sara Behunek reported that analysts said bankruptcy
looms for Zale if it fails to restructure its debt and put in
place a solid merchandising strategy.  The Deal.com points to
these signs that Zale is on the brink:

    -- Zale reported same-store sales for November-December
       fell 12%;

    -- Zale lost $57.6 million for its first quarter, ended
       October 31, and for its 2009 fiscal year, which ended
       July 31;

    -- Zale posted a net loss of $190 million on total revenue of
       $1.8 billion, down from $2.1 billion the year earlier;

    -- The Wall Street Journal has reported that Zale has asked
       vendors to buy back unsold merchandise at full price;

    -- The company's top three officers resigned last month.

As reported by the TCR on January 26, 2010, Cathy Hershcopf, Esq.,
at Cooley Godward Kronish LLP, told The Deal's Maria Woehr in an
interview that there will be retailers that cannot possibly
survive due a lack of consumer confidence.  With regard to Zales,
Ms. Hershcopf said, "I don't know how it continues to survive when
so many of its prior customers are not working."

As reported by the TCR on August 7, 2009, Zale closed 118
underperforming retail locations during the fiscal fourth quarter
ended July 31, 2009.  The Company closed a total of 191
underperforming locations during fiscal year 2009, of which 160
were retail stores and 31 were kiosks.  In addition to the
closures, the Company entered into agreements in principle on
certain of its remaining retail locations, which would result in a
reduction in aggregate rental obligations commencing in fiscal
year 2010.  Following the closures, the Company operates 1,931
retail locations, according to the TCR report.


ZAHNOW PROPERTIES: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Zahnow Properties
        705 Rivard St., Ste. 4
        Somerset, WI 54025

Bankruptcy Case No.: 10-11699

Chapter 11 Petition Date: March 10, 2010

Court: United States Bankruptcy Court
       Western District of Wisconsin,
       http://www.wiw.uscourts.gov(Eau Claire)

Judge: Thomas S. Utschig

Debtor's Counsel: Daniel R. Freund, Esq.
                  920 S. Farwell Street, Ste. 1800
                  P.O. Box 222
                  Eau Claire, WI 54702-0222
                  Tel: (715) 832-5151
                  Fax: (715) 832-5491
                  Email: freundlaw@fastmail.fm

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 $5,251,000,
and total debts of $4,828,819.

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/wiwb10-11699.pdf

The petition was signed by Scott Zahnow, partner of the Company.


* Bank Failures This Year Reach 30 After 3 Closed Friday
--------------------------------------------------------
Regulators closed three banks -- The Park Avenue Bank, New York,
NY; Statewide Bank, Covington, LA; Old Southern Bank, Orlando, FL
-- on March 12, raising the total closings for this year to 30.

Valley National Bank, Wayne, New Jersey, assumed all of the
deposits of The Park Avenue Bank.  Valley National also bought the
assets of LibertyPointe Bank, which was closed a day earlier, on
March 11.

The Federal Deposit Insurance Corporation was appointed receiver
for the banks.

In accordance with Federal law, allowed claims against failed
financial institutions will be paid, after administrative
expenses, in this order of priority:

     1. Depositors
     2. General Unsecured Creditors
     3. Subordinated Debt
     4. Stockholders

                    2010 Failed Banks List

The FDIC was appointed as receiver for the closed banks.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with various banks that agreed to assume the
deposits of most of the closed banks.  The FDIC also entered into
loss-share transactions on assets bought by the banks.

For this year, the failed banks are:

                               Loss-Share
                               Transaction Party     FDIC Cost
                  Assets of    Bank That Assumed   to Insurance
                  Closed Bank  Deposits & Bought      Fund
Closed Bank       (millions)   Certain Assets       (millions)
-----------       ----------   --------------      -----------
The Park Avenue Bank    $520.1    Valley National Bank     $50.7
Statewide Bank          $243.2    Home Bank, Lafayette     $38.1
Old Southern Bank       $315.6    Centennial Bank          $94.6
LibertyPointe Bank      $209.7    Valley National          $24.8
Sun American Bank       $535.7    First-Citizens Bank     $103.8
Waterfield Bank         $155.6    {FDIC Created}           $51.0
Centennial Bank         $215.2    Zions Bank               $96.3
Bank of Illinois        $211.7    Heartland Bank           $53.7
Rainier Pacific Bank    $446.2    Umpqua Bank, Roseburg    $95.2
Carson River Community   $51.1    Heritage Bank of Nevada   $7.9
George Washington       $412.8    FirstMerit Bank         $141.4
La Jolla Bank         $3,600.0    OneWest Bank, FSB       $882.3
The La Coste Nat'l       $53.9    Community National        $3.7
Marco Community Bank    $119.6    Omaha Bank               $38.1
1st American State       $18.2    Community Development     $3.1
First National Bank     $832.6    Community & Southern    $260.4
Florida Community       $875.5    Premier American Bank   $352.6
American Marine Bank    $373.2    Columbia State Bank      $58.9
Marshall Bank, N.A.      $59.9    United Valley Bank        $4.1
First Regional Bank   $2,180.0    First-Citizens Bank     $825.5
Comm. Bank & Trust    $1,210.0    SCBT, N.A.              $354.5
Charter Bank          $1,200.0    Charter, Albuquerque    $201.9
Evergreen Bank          $488.5    Umpqua Bank, Roseburg    $64.2
Columbia River Bank   $1,100.0    Columbia State Bank     $172.5
Bank of Leeton           $20.1    Sunflower Bank            $8.1
Premier American Bank   $350.9    Bond Street subsidiary   $85.0
Town Community           $69.6    Bank First American      $17.8
St. Stephen State        $24.7    First State Bank          $7.2
Barnes Banking          $827.8    {DINB Created}          $271.3
Horizon Bank          $1,400.0    Washington Federal      $539.1

In 2009, there were 140 failed banks, compared with just 25 for
2008.

A complete list of banks that failed since 2000 is available at:

    http://www.fdic.gov/bank/individual/failed/banklist.html

                   702 Banks on Problem List

In its quarterly banking profile, the Federal Deposit Insurance
Corp. said that the number of institutions on its "Problem List"
rose to 702 at the end of 2009, from 552 at the end of the third
quarter and 252 at the end of 2008.

The FDIC, in its February 23 report, said that total assets of
"problem" institutions were $402.8 billion at yearend 2009,
compared with $345.9 billion at the end of September and $159.0
billion at the end of 2008.  Both the number and assets of
"problem" institutions are at the highest level since June 30,
1993.

The Deposit Insurance Fund (DIF) decreased by $12.6 billion during
the fourth quarter to a negative $20.9 billion (unaudited)
primarily because of $17.8 billion in additional provisions for
bank failures.  Also, unrealized losses on available-for-sale
securities combined with operating expenses reduced the fund by
$692 million.  Accrued assessment income added $3.1 billion to the
fund during the quarter, and interest earned, combined with
termination fees on loss share guarantees and surcharges from the
Temporary Liquidity Guarantee Program added $2.8 billion.  For the
year, the fund balance shrank by $38.1 billion, compared to a
$35.1 billion decrease in 2008.  The DIF's reserve ratio was
negative 0.39% on December 31, 2009, down from negative 0.16% on
September 30, 2009, and 0.36% a year ago.  The December 31, 2009,
reserve ratio is the lowest reserve ratio for a combined bank and
thrift insurance fund on record.

Forty-five insured institutions with combined assets of
$65.0 billion failed during the fourth quarter of 2009, at an
estimated cost of $10.2 billion.  For all of 2009, 140 FDIC-
insured institutions with assets of $169.7 billion failed, at an
estimated cost of $37.4 billion.  This was the largest number of
failures since 1990 when 168 institutions with combined assets of
$16.9 billion failed.

On November 12, 2009, the FDIC adopted a final rule amending the
assessment regulations to require insured depository institutions
to prepay their quarterly risk-based assessments for the fourth
quarter of 2009 and for all of 2010, 2011, and 2012 on December
30, 2009, along with each institution's risk-based assessment for
the third quarter of 2009.   The FDIC is asking banks to prepay
three years of premiums on Dec. 30 to raise $45 billion for the
fund.

"Problem" institutions are those institutions with financial,
operational, or managerial weaknesses that threaten their
continued financial viability.  They are rated by the FDIC or
Office of the Thrift Supervision as either a "4" or "5", based on
a scale of 1 to 5 in ascending order of supervisory concern.
The Problem List is not divulged to the public.  No advance notice
is given to the public when a financial institution is closed.

               Problem Institutions      Failed Institutions
               --------------------      -------------------
Year           Number  Assets (Mil)      Number  Assets (Mil)
----           ------  ------------      ------  ------------
2009              702      $402,800         140       $169,700
2008              252      $159,405          25       $371,945
2007               76       $22,189           3         $2,615
2006               50        $8,265           0             $0
2005               52        $6,607           0             $0
2004               80       $28,250           4           $170

A copy of the FDIC's Quarterly Banking Profile for the quarter
ended Dec. 31, 2009, is available for free at:

      http://bankrupt.com/misc/FDIC_QBP_Q4_09.pdf


* 2 Corporate Defaults Last Week; 2010 Tally at 19
--------------------------------------------------
Two global corporate issuers defaulted the week of March 8,
raising the 2010 year-to-date total to 19 defaults, said an
article published March 12 by Standard & Poor's, titled "Global
Corporate Default Update (March 5 - 11, 2010) (Premium)."

"By region, the current year-to-date default tallies are 15 in the
U.S., two in the emerging markets, and two in the other developed
region," said Diane Vazza, head of Standard & Poor's Global Fixed
Income Research Group. (The other developed region is Australia,
Canada, Japan, and New Zealand.)

S&P has updated the U.S. total to include one issuer that
defaulted last month after Standard & Poor's Ratings Services
withdrew its rating on the company.

"So far this year, distressed exchanges account for seven
defaults, Chapter 11 filings account for six, missed interest or
principal payments are responsible for four, and the remaining two
defaulted issuers are confidential," said Ms. Vazza.

Of the global corporate defaulters in 2010, 42% of issues with
available recovery ratings had recovery ratings of '6' (indicating
our expectation for negligible recovery of 0%-10%), 8% of the
issues had recovery ratings of '5' (modest recovery prospects of
10%-30%), 25% had recovery ratings of '4' (average recovery
prospects of 30%-50%), and 17% had recovery ratings of '3'
(meaningful recovery prospects of 50%-70%).  And for the remaining
two rating categories, none of the issues had recovery ratings of
'2' (substantial recovery prospects of 70%-90%) and 8% of issues
had recovery ratings of '1' (very high recovery prospects of 90%-
100%).

Ultimate recovery rates displayed considerable cyclicality in
2009, in sync with the ebb and flow of liquidity.  A particular
instrument's position in the capital structure, its security and
collateral, company-specific issues, and economic and credit
market conditions are the main factors that influence a recovery
rate.

Preliminary data for 2009 suggest that the shock to liquidity from
events such as the Lehman Brothers' bankruptcy in the fall of 2008
severely affected exit valuations of defaulted securities, as well
as the values of nondefaulted securities.  Recoveries, which had
experienced a golden age of extremely high rates during 2003-2007,
dropped precipitously in 2009, in line with S&P's expectations.
(By early 2009, recovery rates dropped to 39% for loans and
revolving credit facilities and 34% for bonds (on a mean
discounted basis in the first four months) from 74% and 51%,
respectively, for all of 2008.  The rebound in capital market
sentiment boosted recovery rates later in the year, and by July
2009, recovery rates began to increase from these troughs.

The Federal Deposit Insurance Corporation on Friday closed on a
sale of notes backed by residential mortgage backed securities
from seven failed bank receiverships.  The sale was conducted
through a private placement priced and allocated on March 5.  The
transaction was met with robust investor demand, with over 70
investors participating across fixed and floating rate series.
The investors included banks, investment funds, insurance funds
and pension funds. All investors were qualified institutional
buyers.

The $1.81 billion of notes is backed by 103 non-agency residential
mortgage-backed securities. The aggregate unpaid balance of the
103 securities was approximately $3.6 billion at the time of the
sale. The FDIC retained an equity interest in each series.

The transaction features two series of senior notes, each backed
by a separate pool of RMBS.  The larger series of approximately
$1.3 billion, is based on option ARMS and has a floating rate tied
to the one-month LIBOR. The smaller series of $480 million is
based mostly on fixed-rate RMBS and pays a fixed rate. Both series
priced at rates comparable to Ginnie Mae collateralized mortgage
obligations.

The timely payment of principal and interest due on the notes are
guaranteed by the FDIC, and that guaranty is backed by the full
faith and credit of the United States.

The $1.8 billion in proceeds will go to the seven failed bank
receiverships and eventually be used to pay creditors, including
the FDIC's Deposit Insurance Fund.  This will maximize recoveries
for the receiverships and recover substantial funds for the DIF
while also meeting strong investor demand. Underscoring this
investor demand, the issuance was significantly oversubscribed
allowing the transaction to price at lower spreads to benchmark
rates.

Barclays Capital, New York, New York served as the sole
bookrunner, structuring agent and financial advisor to the FDIC on
the Structured Sale of Guaranteed Notes (SSGN 2010-S1).

This offering marks the first issuance of notes by the FDIC since
the early 1990s and the first issuance by the FDIC of FDIC
guaranteed debt backed by the full faith and credit of the U.S.

                  $3-Bil. of Loans from AmTrust

Meanwhile, according to a separate report from Bloomberg, which
cited people involved in the sales, the FDIC is preparing to sell
$3 billion of loans from AmTrust Bank, the Cleveland-based lender
seized by regulators in December.

According to the report, Barclays Capital Inc. is getting ready to
solicit bids for a $2 billion portfolio of loans from AmTrust,
said one of the people involved in the sale.  Stifel Nicolaus &
Co. will take bids for $1 billion of mostly non-performing home
loans in May or June, according to two of the people, who asked
not to be named because the terms haven't been completed.


* FDIC Says 6 Banks Need to Improve CRA Compliance
--------------------------------------------------
The Federal Deposit Insurance Corporation on March 5, 2010, issued
its list of state nonmember banks recently evaluated for
compliance with the Community Reinvestment Act.

The FDIC found six banks that need to improve compliance:

     * Community Trust Bank, in Irvington, IL;
     * Frontier State Bank, Oklahoma City, OK;
     * Exchange Bank of Fairfax, Fairfax, MO;
     * Golden Coast Bank, Long Beach, CA;
     * Bank of Agriculture & Commerce, Stockton, CA;
     * Bank of Idaho, Idaho Falls, ID

The list covers evaluation ratings that the FDIC assigned to
institutions in December 2009.  The CRA is a 1977 law intended to
encourage insured banks and thrifts to meet local credit needs,
including those of low- and moderate- income neighborhoods,
consistent with safe and sound operations.  As part of the
Financial Institutions Reform, Recovery, and Enforcement Act of
1989 (FIRREA), Congress mandated the public disclosure of an
evaluation and rating for each bank or thrift that undergoes a CRA
examination on or after July 1, 1990.

A consolidated list of all state nonmember banks whose evaluations
have been made publicly available since July 1, 1990, including
the rating for each bank, can be obtained from the FDIC's Public
Information Center, located at 3501 Fairfax Drive, Room E-1002,
Arlington, VA 22226 (877-275-3342 or 703-562-2200), or via the
Internet at http://www.fdic.gov/

A copy of an individual bank's CRA evaluation is available
directly from the bank, which is required by law to make the
material available upon request, or from the FDIC's Public
Information Center.


* New Round of Foreclosures Threatens Housing Market
----------------------------------------------------
ABI reports that the housing market is facing swelling ranks of
homeowners who are seriously delinquent but have yet to lose their
homes, and this is threatening to create a new wave of
foreclosures that could hit just as the real estate market has
begun to stabilize.


* Politics, Shaky Economy Create No Rush to Restructure
-------------------------------------------------------
ABI reports that the federal government has spent the past half-
year seeking to roll back its emergency efforts at propping up the
financial markets, with the notable exception of its involvement
in mortgage giants Fannie Mae and Freddie Mac.


* BOND PRICING -- For the Week From March 8 to 12, 2010
-------------------------------------------------------

  Company              Coupon     Maturity  Bid Price
  -------              ------     --------  ---------
155 E TROPICANA         8.750%    4/1/2012    26.100
ABITIBI-CONS FIN        7.875%    8/1/2009    12.000
ACARS-GM                8.100%   6/15/2024    17.500
ADVANTA CAP TR          8.990%  12/17/2026    13.125
ALERIS INTL INC         9.000%  12/15/2014     0.500
AMBAC INC               9.375%    8/1/2011    50.500
AMER GENL FIN           4.500%   3/15/2010    99.700
ARCO CHEMICAL CO       10.250%   11/1/2010    82.750
BANK NEW ENGLAND        8.750%    4/1/1999    11.125
BANK NEW ENGLAND        9.875%   9/15/1999     9.000
BANK UNITED             8.000%   3/15/2009     0.900
BLOCKBUSTER INC         9.000%    9/1/2012    25.750
BOWATER INC             6.500%   6/15/2013    35.500
BOWATER INC             9.500%  10/15/2012    31.000
CAPMARK FINL GRP        5.875%   5/10/2012    31.625
CENTERPLATE INC        13.500%  12/10/2013     1.500
CHANDLER USA INC        8.750%   7/16/2014    20.000
CMP SUSQUEHANNA         9.875%   5/15/2014    37.000
COLLINS & AIKMAN       10.750%  12/31/2011     1.000
COLONIAL BANK           6.375%   12/1/2015     0.500
F-CALL03/10             5.200%   3/21/2011    99.510
F-CALL03/10             5.250%   3/21/2011    99.510
F-CALL04/10             6.000%  10/20/2010    95.127
FAIRPOINT COMMUN       13.125%    4/1/2018    13.875
FAIRPOINT COMMUN       13.125%    4/2/2018    17.000
FEDDERS NORTH AM        9.875%    3/1/2014     0.977
FINLAY FINE JWLY        8.375%    6/1/2012     0.500
GENERAL MOTORS          7.125%   7/15/2013    30.225
GENERAL MOTORS          7.700%   4/15/2016    30.150
GENERAL MOTORS          9.450%   11/1/2011    26.000
GMAC LLC                6.050%   3/15/2010   100.125
HAIGHTS CROSS OP       11.750%   8/15/2011    40.500
HAWAIIAN TELCOM         9.750%    5/1/2013     3.000
HERBST GAMING           7.000%  11/15/2014     0.500
HERBST GAMING           8.125%    6/1/2012     0.500
INDALEX HOLD           11.500%    2/1/2014     1.050
INN OF THE MOUNT       12.000%  11/15/2010    47.000
INTL LEASE FIN          4.750%   3/15/2010    99.250
INTL LEASE FIN          5.000%   3/15/2010    99.637
INTL LEASE FIN          5.100%   3/15/2010    99.725
INTL LEASE FIN          5.150%   3/15/2010    99.225
INTL LEASE FIN          5.250%   3/15/2010    99.140
INTL LEASE FIN          5.300%   3/15/2010    99.550
INTL LEASE FIN          5.300%   3/15/2010    98.875
INTL LEASE FIN          5.400%   3/15/2010    98.900
INTL LEASE FIN          7.700%   3/15/2010    99.400
INTL LEASE FIN          7.700%   3/15/2010    96.250
KEYSTONE AUTO OP        9.750%   11/1/2013    43.500
LANDRY'S RESTAUR        9.500%  12/15/2014    85.140
LEHMAN BROS HLDG        4.375%  11/30/2010    22.000
LEHMAN BROS HLDG        4.500%   7/26/2010    24.313
LEHMAN BROS HLDG        4.500%    8/3/2011    16.770
LEHMAN BROS HLDG        4.700%    3/6/2013    18.750
LEHMAN BROS HLDG        4.800%   2/27/2013    22.000
LEHMAN BROS HLDG        4.800%   3/13/2014    23.000
LEHMAN BROS HLDG        5.000%   1/14/2011    24.000
LEHMAN BROS HLDG        5.000%   1/22/2013    18.636
LEHMAN BROS HLDG        5.000%   2/11/2013    20.875
LEHMAN BROS HLDG        5.000%   3/27/2013    20.375
LEHMAN BROS HLDG        5.000%    8/3/2014    17.780
LEHMAN BROS HLDG        5.000%    8/5/2015    22.000
LEHMAN BROS HLDG        5.100%   1/28/2013    21.000
LEHMAN BROS HLDG        5.150%    2/4/2015    20.875
LEHMAN BROS HLDG        5.250%    2/6/2012    24.000
LEHMAN BROS HLDG        5.250%   1/30/2014    18.000
LEHMAN BROS HLDG        5.250%   2/11/2015    16.375
LEHMAN BROS HLDG        5.500%    4/4/2016    24.750
LEHMAN BROS HLDG        5.625%   1/24/2013    25.500
LEHMAN BROS HLDG        5.750%   4/25/2011    22.625
LEHMAN BROS HLDG        5.750%   7/18/2011    23.750
LEHMAN BROS HLDG        5.750%   5/17/2013    23.625
LEHMAN BROS HLDG        5.750%    1/3/2017     0.550
LEHMAN BROS HLDG        5.750%  10/21/2023    11.000
LEHMAN BROS HLDG        6.000%    4/1/2011    17.250
LEHMAN BROS HLDG        6.000%   7/19/2012    23.000
LEHMAN BROS HLDG        6.000%   6/26/2015    18.250
LEHMAN BROS HLDG        6.000%  12/18/2015    22.000
LEHMAN BROS HLDG        6.200%   9/26/2014    24.625
LEHMAN BROS HLDG        6.625%   1/18/2012    24.000
LEHMAN BROS HLDG        7.500%   5/11/2038     0.620
LEHMAN BROS HLDG        7.875%   8/15/2010    24.000
LEHMAN BROS HLDG        8.000%   3/17/2023    16.000
LEHMAN BROS HLDG        8.050%   1/15/2019    19.000
LEHMAN BROS HLDG        8.500%    8/1/2015    20.800
LEHMAN BROS HLDG        8.750%  12/21/2021    19.375
LEHMAN BROS HLDG        8.750%    2/6/2023    17.625
LEHMAN BROS HLDG        8.800%    3/1/2015    22.000
LEHMAN BROS HLDG        8.920%   2/16/2017    19.000
LEHMAN BROS HLDG        9.000%    3/7/2023    18.250
LEHMAN BROS HLDG        9.500%  12/28/2022    20.750
LEHMAN BROS HLDG        9.500%   1/30/2023    21.000
LEHMAN BROS HLDG        9.500%   2/27/2023    16.900
LEHMAN BROS HLDG       10.000%   3/13/2023    20.250
LEHMAN BROS HLDG       10.375%   5/24/2024    16.000
LEHMAN BROS HLDG       11.000%   6/22/2022    18.375
LEHMAN BROS HLDG       11.000%   8/29/2022    17.250
LEHMAN BROS HLDG       11.500%   9/26/2022    18.125
LEHMAN BROS HLDG       18.000%   7/14/2023    18.250
LEINER HEALTH          11.000%    6/1/2012     9.500
MAJESTIC STAR           9.500%  10/15/2010    76.000
MARSHALL &ILSLEY        4.500%   3/15/2010    99.101
MERRILL LYNCH           4.080%    3/9/2011    99.125
METALDYNE CORP         10.000%   11/1/2013    10.000
METALDYNE CORP         11.000%   6/15/2012     1.000
NEFF CORP              10.000%    6/1/2015    10.000
NEWPAGE CORP           12.000%    5/1/2013    38.500
NORTH ATL TRADNG        9.250%    3/1/2012    34.825
RAFAELLA APPAREL       11.250%   6/15/2011    49.750
REXNORD CORP           10.125%  12/15/2012    38.000
RJ TOWER CORP          12.000%    6/1/2013     1.000
ROTECH HEALTHCA         9.500%    4/1/2012    60.000
SILVERLEAF RES          8.000%    4/1/2010    91.600
SIX FLAGS INC           9.625%    6/1/2014    26.500
SIX FLAGS INC           9.750%   4/15/2013    24.000
SPHERIS INC            11.000%  12/15/2012    15.500
STATION CASINOS         6.000%    4/1/2012    10.000
STATION CASINOS         6.500%    2/1/2014     1.500
STATION CASINOS         6.625%   3/15/2018     2.000
STATION CASINOS         6.875%    3/1/2016     1.500
STATION CASINOS         7.750%   8/15/2016    13.250
THORNBURG MTG           8.000%   5/15/2013    10.000
TIMES MIRROR CO         7.250%    3/1/2013    30.900
TOUSA INC               7.500%   3/15/2011     7.750
TOUSA INC               7.500%   1/15/2015     6.300
TOUSA INC               9.000%    7/1/2010    69.000
TOUSA INC               9.000%    7/1/2010    61.250
TOUSA INC              10.375%    7/1/2012     7.750
TOYOTA-CALL03/10        4.500%   3/20/2017    99.650
TOYOTA-CALL03/10        5.500%   3/21/2022    99.000
TRANSMERIDIAN EX       12.000%  12/15/2010     7.500
TRIBUNE CO              4.875%   8/15/2010    32.250
TRUMP ENTERTNMNT        8.500%    6/1/2015     1.000
VERASUN ENERGY          9.375%    6/1/2017     6.625
WASH MUT BANK FA        5.125%   1/15/2015     0.500
WASH MUT BANK FA        5.650%   8/15/2014     0.625
WASH MUT BANK NV        5.500%   1/15/2013     0.500
WASH MUT BANK NV        5.550%   6/16/2010    46.000
WASH MUT BANK NV        5.950%   5/20/2013     1.251
WASH MUT BANK NV        6.750%   5/20/2036     1.375
WCI COMMUNITIES         7.875%   10/1/2013     3.313
WCI COMMUNITIES         9.125%    5/1/2012     1.000
WDAC SUBSIDIARY         8.375%   12/1/2014     7.981



                           *********

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 ***