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

              Monday, July 26, 2010, Vol. 14, No. 205

                            Headlines


ABITIBIBOWATER INC: Seeking Last Exclusivity Extension
ACE DIRECT: Case Summary & 20 Largest Unsecured Creditors
ADESA INC: Bank Debt Trades at 5% Off in Secondary Market
AFC ENTERPRISES: Inks Supply Agreement with Diversified Food
AH&T INVESTMENTS: Reorganization Case Converted to Chapter 7

AINSWORTH LUMBER: S&P Affirms 'B-' Rating; Outlook Now Stable
AIRTRAN HOLDINGS: Posts $12.3 Million Net Income for June 30 Qtr
ALMATIS B.V.: Has New Plan with Enhanced Recoveries
AMACORE GROUP: Closes Health Benefits Group Division
AMERICREDIT CORP: Moody's Reviews 'B2' Corporate Family Rating

AMR CORP: CFO Thomas Horton Promoted to President
AMR CORP: Shrinks Net Loss to $10.7-Mil. in 2nd Quarter
ANNALY BAY: Files Schedules of Assets and Liabilities
ANNALY BAY: Taps Benjamin A. Currence as Bankruptcy Counsel
ANNALY BAY: U.S. Trustee Wants Reorganization Case Dismissed

ART PICCADILLY: Voluntary Chapter 11 Case Summary
ASAP07 LLC: Voluntary Chapter 11 Case Summary
AVAYA INC: Bank Debt Trades at 13% Off in Secondary Market
BAY CITI: 4 Lembi Group/CitiApartments Firms File for Bankruptcy
BIOMET INC: Bank Debt Trades at 3% Off in Secondary Market

BMS REAL ESTATE: Voluntary Chapter 11 Case Summary
BOMBARDIER RECREATIONAL: Moody's Keeps 'Caa1'; Outlook Now Stable
BOSTON GENERATING: S&P Sees Bankruptcy Filing in Q3 Amid Debt Load
BRAVO HEALTH: S&P Raises Counterparty Credit Rating to 'B+'
BRIER CREEK: Case Dismissed, Can Sell Property to Pay Creditors

BROWN PUBLISHING: President Takes Most Assets at Auction
BUCYRUS COMMUNITY: Court Extends Plan Filing Until November 16
C & M CONSTRUCTION: Case Summary & 6 Largest Unsecured Creditors
C&H ARIZONA: Taps Simbro & Stanley as Bankruptcy Counsel
C&H ARIZONA: Section 341(a) Meeting Scheduled for Aug. 10

C&H ARIZONA: Files Schedules of Assets & Liabilities
C&H ARIZONA: MSDW Won't Allow Cash Collateral Use
CACI INTERNATIONAL: Moody's Affirms 'Ba2' Corporate Family Rating
CARDTRONICS INC: Note Redemption Won't Affect Moody's 'B2' Rating
CATHOLIC CHURCH: Del. Judge Won't Reconsider $75MM Trust Ruling

CEDAR FAIR LP: Bank Debt Trades at 1% Off in Secondary Market
CENTAUR LLC: Doesn't Object to Creditor Suit on Lien Invalidity
CHAMPION ENTERPRISES: Wants Until October 12 to File Ch. 11 Plan
CHARTER COMMS: Bank Debt Trades at 6% Off in Secondary Market
CLEAR CHANNEL: Bank Debt Trades at 22% Off in Secondary Market

COMMUNITY HEALTH: Bank Debt Trades at 6% Off in Secondary Market
COMMUNITY SECURITY BANK: Closed; Roundbank Assumes All Deposits
COMPUTER SYSTEMS: Can Use Lenders' Cash Collateral Until August 31
CONTECH CONSTRUCTION: Bank Debt Trades at 17% Off
CONTROLADORA COMERCIAL: Denied U.S. TRO on Creditor Suits

CORBIN PARK: Wants Until October 20 to File Reorganization Plan
CORROZI-FOUNTAINVIEW: Has Deal for Cash Use Until Sept. 1
CRESCENT BANK: Closed; Renasant Bank Assumes Deposits
CROSSINGS AT LAKE: Voluntary Chapter 11 Case Summary
CROWN CORK: Moody's Affirms 'Ba2' Corporate Family Rating

CROWNBUTTE WIND: To Pursue Financing for Wind Park Portfolio Dev't
DEER VALLEY: Owner Will Contribute Funds to Pay Creditors
DELTA MUTUAL: Files Amended Reports on Form 10-Q and Form 10-K
DELTA PETROLEUM: Amends Employment Agreement with Carl Lakey
DENNY'S CORP: Nelson Marchioli Balks at Removal as Director

DOYLE FAMILY: Plan Outline Hearing Scheduled for August 31
DUBAI WORLD: "Informational Session" with Creditors Held July 22
ENTRAVISION COMMS: Bank Debt Trades at 0.93% Off
EVERGREEN TRANSPORTATION: Gets OK to Sell Assets to ET LLC
EXTENDED STAY: Court Approves Intercompany Settlement

EXTENDED STAY: Court Confirms Plan to Sell to Centerbridge
EXTENDED STAY: Lease Decision Period Extended to November 30
FEY 240: Hearing on Plan Outline Continued Until August 11
FIRSTLIGHT POWER: Moody's Affirms 'B1' Rating on 1st Lien Loans
FKF 3, LLC: Involuntary Chapter 11 Case Summary

FLEXTRONICS INTERNATIONAL: Bank Debt Trades at 4% Off
FREESCALE SEMICON: Bank Debt Trades at 10% Off in Secondary Market
GARLOCK SEALING: Garrison Files Schedules of Assets & Debts
GARLOCK SEALING: Garrison Files Statement of Financial Affairs
GARLOCK SEALING: Wins Nod to Hire Firms in Ordinary Course

GARLOCK SEALING: Wins Nod to Hire Schachter as Asbestos Counsel
GENERAL GROWTH: To Arbitrate with Hughes Heirs
GLEBE INC: Has Until July 28 to File Schedules and Statements
GLOBAL CAPACITY: Files for Chapter 11 to Reduce Debt
GPX INTERNATIONAL: Plan of Liquidation Wins Court Approval

GRAPHIC PACKAGING: Bank Debt Trades at 4% Off in Secondary Market
GREENFIELD SOUTH: S&P Assigns 'BB-' Rating on US$335 Mil. Notes
GSI GROUP: Emerges from Chapter 11 Reorganization
HARRISBURG, PA: Working on Terms of Forbearance with Covanta
HCA INC: Bank Debt Trades at 4% Off in Secondary Market

HERTZ CORP: Bank Debt Trades at 4% Off in Secondary Market
HOME VALLEY BANK: Closed; South Valley Bank Assumes Deposits
HUNTSMAN ICI: Bank Debt Trades at 7% Off in Secondary Market
INNKEEPERS USA: Apollo to Ink Deal to Re-Acquire 50% Of Equity
INNKEEPERS USA: Proposes to Pay Employee Wages

INNKEEPERS USA: Proposes to Hire Kirkland & Ellis as Counsel
INNKEEPERS USA: Proposes to Hire AP Services as Crisis Managers
INNKEEPERS USA: Says Utilities Adequately Assured of Payment
L RAMON BONIN: Has Until October 15 to File Chapter 11 Plan
L RAMON BONIN: Gets OK to Provide Unsecured Credit to Dynamic

L & G MCDOWELL: Voluntary Chapter 11 Case Summary
LAKE AT LAS VEGAS: Creditor Trustee Wants $469MM Awarded to Trust
LAKEVIEW AT CAROLINA: Files for Bankruptcy in North Carolina
LAKEVIEW AT CAROLINA: Case Summary & 7 Largest Unsecured Creditors
LAS VEGAS SANDS: Bank Debt Trades at 11% Off in Secondary Market

LEUCADIA NATIONAL: Americredit/GM Deal Won't Move Moody's Rating
LONGVIEW ALUMINUM: Dist. Ct. Says LLC Managing Member an Insider
M&M KATZ: Expensive Rent Prompts Chapter 11 Bankruptcy Filing
MAIETTA CONSTRUCTION: Financial Woes Prompt Bankruptcy Filing
MARKET DEVELOPMENT: Fails to Pay Taxes; Case Dismissal Sought

MAYSVILLE INC: Hearing on Cash Collateral Access Set for August 9
MERUELO MADDUX: Secured Lenders Want to File Competing Plan
MESA OFFSHORE: Experiences Delay in Final Liquidating Distribution
MOLL INDUSTRIES: Proofs of Claim Due by August 19
NEC HOLDINGS: Court Approves Auction for August 20

NEW YORK TIMES: S&P Raises Corporate Rating to 'B+' From 'B'
NEWPAGE CORP: Anticipates Refinancing Debt Prior to 2012
NEXITY FINANCIAL: Files Prepack Case in Delaware
NICOLAS MARSCH: U.S. Trustee Directed to Appoint Ch. 11 Trustee
NIELSEN COMPANY: Bank Debt Trades at 5% Off in Secondary Market

OMAR YEHIA SPAHI: Files Schedules of Assets and Liabilities
ORANGE COUNTY: Cash Collateral Hearing Continued to July 28
ORANGE COUNTY: Court Extends Lease Pact Assumption/Rejection
ORANGE COUNTY: Gets OK to Sell Los Angeles, Orange County Assets
OTC INTERNATIONAL: Has Until Sept. 30 to Close Chapter 11 Case

OWENS CORNING: Delaware Submits Q1 2010 Summary Report
PACIFIC AVENUE: Files for Bankruptcy to Avert Foreclosure
PACIFICA MESA: Sues Junior Lenders for Driving Firm to Bankruptcy
PACIFICA MESA: Case Summary & 20 Largest Unsecured Creditors
PENN NATIONAL: Bank Debt Trades at 3% Off in Secondary Market

PERMALIFE PRODUCTS: Automatic Stay Dispute Will Be Heard in N.J.
PHILADELPHIA NEWSPAPERS: Pension Funds Agree to Release Docs
PHILADELPHIA NEWSPAPERS: Buyer Vows to Close Deal by End of August
POINT BLANK: Loan Amendment Requires Sale in September
PROVIDENT COMMUNITY: Defers Payments on Trust Preferred Securities

RIVIERA HOLDINGS: Asks for OK to Enter Into Backstop Agreement
ROCK CHRISTIAN: Voluntary Chapter 11 Case Summary
RTM ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
SOUTHWESTUSA BANK: Closed; Plaza Bank Assumes All Deposits
SENECA GAMING: Moody's Reviews 'Ba2' Corporate Family Rating

SPECIALTY TRUST: Amends Schedules of Assets and Liabilities
STERLING BANK: Closed; IBERIABANK Assumes All Deposits
SUN HEALTHCARE: Bank Debt Trades at 4% Off in Secondary Market
SUN WEST: Case Summary & 6 Largest Unsecured Creditors
SUNRISE SENIOR living: Reaches Settlement with SEC

SUPERVALU INC: Bank Debt Trades at 4% Off in Secondary Market
TELESAT CANADA: Bank Debt Trades at 4% Off in Secondary Market
TEXAS RANGERS: Judge Lynn Assures Finances Will Be Available
TEXAS RANGERS: Judge Won't Delay August 4 Auction
THUNDER BANK: Closed; The Bennington State Bank Assumes Deposits

TOUSA INC: Judge Wants Mediation of Plan Issues
TRIBUNE CO: Alvarez & Marsal Charges $1.50 Mil. for March-May Work
TRIBUNE CO: Tribune365 Names Theodore as Travel Sales & Mktg. Head
TRUMP ENTERTAINMENT: Appoints New Board of Directors
TTR MATTESON: Case Summary & 8 Largest Unsecured Creditors

UNITED AIR LINES: Bank Debt Trades at 12% Off in Secondary Market
US AIRWAYS: Inks New Codeshare Agreement With Turkish Airline
US AIRWAYS: Reports Second Quarter Profit of $279 Million
US AIRWAYS: Provides Investor Relations Update
VILLAGE PARK: Voluntary Chapter 11 Case Summary

VISTEON CORP: Alvares & Marsal Bills $4 Mil. for March-May Work
VISTEON CORP: Court Okays Additional Work for PwC
VISTEON CORP: Equity Holders Want Data to Formulate Bids
VISTEON CORP: Extends Global Support for New Ford Fiesta
VITRO SAB: Presents Revised Proposal for Debt Restructuring

WEST CORP: Bank Debt Trades at 6% Off in Secondary Market
WEST CORP: Bank Debt Trades at 4% Off in Secondary Market
WILD GAME: Files for Bankruptcy to Avert Suspension of License
WILLIAMSBURG FIRST: Closed; First Citizens Bank Assumes Deposits
WINDSTREAM CORP: Bank Debt Trades at 2% Off in Secondary Market

WYNN LAS VEGAS: Fitch Rates $1.32 Bil. Mortgage Notes at 'BB+'
XERIUM TECHNOLOGIES: AlixPartners' B. Fox to Serve as Interim CFO
XSTREAM SYSTEMS: Behind in Rutgers Royalty Payments

* 7 Banks Closed Friday, Raise Year's Total to 104
* 1 Default Last Week Hikes S&P Year's Default Total at 45

* Glerum Joints Edwards Angell as New Bankruptcy Partner

* BOND PRICING -- For Week From July 19 to 23, 2010


                            ********


ABITIBIBOWATER INC: Seeking Last Exclusivity Extension
------------------------------------------------------
Bill Rochelle at Bloomberg News reports that AbitibiBowater Inc.
is asking for a fourth and last extension of the exclusive right
to propose, and solicit acceptances of, a Chapter 11 plan.
Although Abitibi has a reorganization plan on file, the new
exclusivity motion said there are talks with "key creditor
constituencies" about "certain amendments."  Aurelius Capital
Management LP and Contrarian Capital Management LLC previously
claimed to have a blocking position due to their ownership of
notes representing more than a third of unsecured claims against
Bowater.

Abibitibi is asking for an October 16 exclusivity extension.  A
hearing on the request is scheduled for September 14.

                     About AbitibiBowater

AbitibiBowater produces a wide range of newsprint, commercial
printing papers, market pulp and wood products.  It is the eighth
largest publicly traded pulp and paper manufacturer in the world.
AbitibiBowater owns or operates 22 pulp and paper facilities and
26 wood products facilities located in the United States, Canada
and South Korea.  Marketing its products in more than 90
countries, the Company is also among the world's largest recyclers
of old newspapers and magazines, and has third-party certified
100% of its managed woodlands to sustainable forest management
standards.  AbitibiBowater's shares trade over-the-counter on the
Pink Sheets and on the OTC Bulletin Board under the stock symbol
ABWTQ.

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

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

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

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


ACE DIRECT: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Ace Direct, Inc.
          aka Ace Printing Company
        948 South Vella Road
        Palm Springs, CA 92264

Bankruptcy Case No.: 10-32471

Chapter 11 Petition Date: July 19, 2010

Court: U.S. Bankruptcy Court
       Central District of California (Riverside)

Judge: Catherine E. Bauer

Debtor's Counsel: Stephen F. Biegenzahn, Esq.
                  611 W 6th Street, Suite 850
                  Los Angeles, CA 90017
                  Tel: (213) 617-0017
                  Fax: (480) 247-5977
                  E-mail: efile@sfblaw.com

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

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

A copy of the Company's list of 20 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-32471.pdf

The petition was signed by Mark Lawrence, president.


ADESA INC: Bank Debt Trades at 5% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which ADESA, Inc., is a
borrower traded in the secondary market at 94.89 cents-on-the-
dollar during the week ended Friday, July 23, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.45 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. 21, 2013, and carries Moody's Ba3
rating and Standard & Poor's B+ rating.  The loan is one of the
biggest gainers and losers among 194 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

Headquartered in Carmel, Indiana, ADESA, Inc. (NYSE: KAR) --
http://www.adesainc.com/-- offers used- and salvage-vehicle
redistribution services to automakers, lessors, and dealers in the
US, Canada, and Mexico.  ADESA operates about 60 whole car auction
sites; it also offers such ancillary services as logistics,
inspections, evaluation, titling, and settlement administration.
The company collects fees from buyers and sellers on each auction
and from its extra services.  In 2007, ADESA was acquired by a
group of private equity funds, KAR Holdings, Inc.


AFC ENTERPRISES: Inks Supply Agreement with Diversified Food
------------------------------------------------------------
AFC Enterprises Inc. entered into a Royalty and Supply Agreement
with Diversified Food and Seasonings Inc. pursuant to which the
Company agrees to utilize Diversified and to require its
franchisees to utilize Diversified as the supplier of certain
agreed upon core products.

The term of the Agreement commences on July 15, 2010 and continues
until March 20, 2029.  The Agreement also provides for the grant
by Diversified to the Company of an exclusive, non-transferable
license during the Term to use the recipes or formulas used by
Diversified for the preparation of the Core Products in connection
with the operation of Popeyes restaurants by the Company and its
franchisees by virtue of having the right to use products made in
whole or in part with a Popeyes Formula by Diversified.

The Company agrees to pay a royalty payment during the Term for
the exclusive use of the Popeyes Formulas.  The Agreement provides
that Diversified will be the exclusive provider of the Core
Products for the Company and its franchisees (a) during the Term,
in the continental United States and (b) until December 31, 2015,
in certain international markets, including United States military
bases, Canada and the islands of the Caribbean.

Pursuant to the Agreement, the Company and Diversified agree that
effective as of July 15, 2010, all of the agreements among the
Company and Diversified and their predecessors in interest are
terminated in their entirety, except for an obligation by the
Company to pay to Diversified the unpaid and accrued portion of
the royalty payment under such agreements.  These agreements
include, among others, the following material agreements: (a) the
Formula Agreement dated July 2, 1979 among Alvin C. Copeland,
Gilbert E. Copeland, Mary L. Copeland, Catherine Copeland, Russell
J. Jones, A. Copeland Enterprises, Inc. and Popeye Famous Fried
Chicken, Inc.; (b) the Supply Agreement dated March 21, 1989
between New Orleans Spice Company, Inc. and Biscuit Investments,
Inc.; (c) the Recipe Royalty Agreement dated March 21, 1989 among
Alvin C. Copeland, New Orleans Spice Company, Inc. and Biscuit
Investments, Inc. and (d) the Settlement Agreement among Alvin C.
Copeland, Diversified, Flavorite Laboratories, Inc. and the
Company dated May 29, 1997, each of which was previously filed as
an exhibit to the Company's Registration Statement on Form S-4/A
on July 2, 1997 and each of which is incorporated herein by
reference.

The Agreement provides that until December 31, 2010, Diversified
will continue to fill orders from the Company or its franchisees
for products currently supplied by Diversified in and outside the
Domestic Markets at the current pricing as of the date of the
Agreement, and that until December 31, 2011, at the Company's
request, Diversified will continue to fill orders from the Company
or its franchisees for products currently supplied by Diversified
outside the Domestic Markets at the current pricing as of the date
of the Agreement.  The Company must give Diversified 90 days
notice of its intent to stop buying products with respect to each
jurisdiction outside the Domestic Markets.

The Agreement provides that until December 31, 2014, Diversified
will be the exclusive supplier to the Company and its franchisees
in the Domestic Markets of certain currently supplied sauces at
the current pricing as of the date of the Agreement.

The Agreement provides that the supply of any products other than
the Core Products and sauces will be subject to a competitive
bidding process and that the Company will offer Diversified a fair
and reasonable opportunity to bid on the supply of such products.

                       About AFC Enterprises

Atlanta, Georgia-based AFC Enterprises, Inc. (NASDAQ: AFCE) --
http://www.afce.com/-- is the franchisor and operator of
Popeyes(R) restaurants, the world's second-largest quick-service
chicken concept based on number of units.  As of April 18, 2010,
Popeyes had 1,944 operating restaurants in the United States,
Puerto Rico, Guam and 27 foreign countries.

At April 18, 2010, the Company had $114.6 million in total assets
against $34.1 million in total current liabilities and $92.0
million in total long-term liabilities, resulting in $11.5 million
in stockholders' deficit.

                           *     *     *

As reported by the Troubled Company Reporter on December 18, 2009,
Moody's Investors Service affirmed all ratings of AFC Enterprises,
including its B1 Corporate Family Rating and Ba3 rating of its
senior secured credit facilities, with a stable outlook.  Its
Speculative Grade Liquidity rating was affirmed at SGL-3
concurrently.


AH&T INVESTMENTS: Reorganization Case Converted to Chapter 7
------------------------------------------------------------
The Hon. Stephen S. Mitchell of the U.S. Bankruptcy Court for the
Eastern District of Virginia converted the Chapter 11 case of AH&T
Investments, LLC, to one under Chapter 7 of the Bankruptcy Code.

As reported in the Troubled Company Reporter on June 16, 2010,
W. Clarkson McDow, Jr., the U.S. Trustee for Region 4, sought for
the dismissal or conversion of the Debtor's case explaining that
the Debtor failed to, among other things:

   -- pay fees owed to the United States;

   -- file monthly operating report; and

   -- file a plan and disclosure statement and has been inactive
      since September 2009.

                    About AH&T Investments, LLC

AH&T Investments, LLC, is an investment company in Haymarket,
Virginia.  The company filed for Chapter 11 relief of December 23,
2008 (Bankr. E.D. Virginia Case No. 08-18034).  David R. Young,
Jr., Esq., serves as counsel to the Debtor.  In its petition, the
Debtor listed assets of between $10 million and $50 million, and
debts of between $1 million and $10 million.


AINSWORTH LUMBER: S&P Affirms 'B-' Rating; Outlook Now Stable
-------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Ainsworth Lumber Co. Ltd. to stable from negative.  At the same
time, S&P affirmed its ratings on the company, including its 'B-'
long-term corporate credit rating.

"S&P base the outlook revision on the company's adequate liquidity
to weather current industry conditions and on S&P's expectation
that profitability and credit measures will improve in 2010," said
Standard & Poor's credit analyst Jatinder Mall.

The ratings on Ainsworth reflect S&P's view of the company's
exposure to cyclical housing construction markets, limited asset
and product diversification, and a highly leveraged capital
structure.  S&P believes these risks are partially mitigated by
the company's low cost position stemming from strong Canadian
assets and what S&P considers adequate liquidity to weather weak
industry conditions in the next two years.

Ainsworth is a leading oriented strandboard producer in North
America with a total annual operating capacity of about
1.6 billion square feet of OSB at its three mills in Canada.  It
also has a 50% interest in the High Level, Alta. mill, with its
capacity interest of 430 million square feet.  This mill has been
idle since 2007.

The company's cost profile has improved with the sale of its three
OSB mills in Minnesota as reflected in recent operating margins.
Its three Canadian mills are considered to be in the lower end of
the industry cost curve, have flexible mill technology, and
sufficient fiber supply through long-term licenses.  S&P considers
Ainsworth's business risk profile vulnerable because the company
produces commodity OSB and is heavily exposed to the cyclical U.S.
housing construction market.

The stable outlook on the company reflects Standard & Poor's
expectations that profitability will improve in 2010 and 2011
leading to an improved liquidity position and credit metrics.
However, credit metrics are likely to remain high.  An upgrade
would require improvement in the company's profitability, with
sustained leverage of below 5.5x.  S&P could lower the ratings on
Ainsworth if liquidity declines below C$100 million in the next 18
months because of negative cash flow generation, brought about by
OSB prices falling below US$150, or if the company does an
acquisition or pays out a special dividend.


AIRTRAN HOLDINGS: Posts $12.3 Million Net Income for June 30 Qtr
----------------------------------------------------------------
AirTran Holdings Inc. reported a net profit of $12.4 million or
$0.09 per diluted share for the second quarter of 2010.  Excluding
$26.4 million in unrealized losses, net of taxes, related to the
reduction in value of future fuel hedges, the Company's net income
for the quarter would have been $38.8 million dollars or $0.23 per
diluted share.  This result is particularly noteworthy given the
37.2 percent increase in the per-gallon cost of jet fuel, the
airline's single largest expense, year-over-year.

AirTran Airways also said it made significant improvements to its
financial position during the quarter, including re-signing and
extending a secured credit facility for two additional years,
revising the terms of future aircraft deliveries to reduce
required capital investments by over $200 million between now and
2012, and retiring $90.4 million in convertible notes in July that
eliminated the potential dilutive effect of issuing 8.1 million
shares of common stock.  Based on these and other improvements,
including the Company's profitability, Standard & Poor's upgraded
its debt rating of AirTran Holdings on July 7, 2010.

Operating income in the second quarter of 2010 was $68.2 million,
$2.1 million higher than the prior year due to the favorable
impact of a 16.1 percent increase in total revenue that exceeded
the substantial increase in the cost of jet fuel.  Net income for
the second quarter of 2010 was $66.1 million less than the prior
year due to $34.0 million in net losses on derivative financial
instruments in 2010 compared to a $27.3 million net gain on
derivative financial instruments during the same period last year
along with a $4.0 million gain on early extinguishment of debt in
2009. As of June 30, AirTran Airways' fuel hedge portfolio stands
at $16.1 million.

The Company also set quarterly records for revenue passenger miles
flown, load factor and enplaned passengers.  For the first time in
AirTran Airways' history, load factor topped 83 percent in the
second quarter.  Despite flying more miles with more people than
ever before in the second quarter, the airline improved upon its
exemplary operating performance.  AirTran Airways continued to
rank number one in fewest mishandled bags and is among the leaders
in on-time performance, posting an on-time rate of 83.8 percent
for the second quarter.

"I want to thank all of our hard-working Crew Members. Working
together, we have been able to serve more customers than ever
before during the second quarter. We all take pride in delivering
the award-winning, high-quality, low-cost service that our
customers have come to expect from AirTran Airways," said Bob
Fornaro, AirTran Airways' chairman, president and chief executive
officer. "Because of this, we are able to continue to strengthen
the Company's long-term financial position."

                Financial Performance and Outlook

AirTran Airways continues its position of leading the industry
with the lowest non-fuel operating cost per mile among major
airlines on a stage-length adjusted basis. The Company has been
able to maintain this advantage by operating North America's
newest all-Boeing fleet, efficiently utilizing its aircraft and
other assets, and driving cost-savings from all levels of the
organization.

Tight cost controls, combined with prudent, long-term financial
management, have enabled the Company to bolster its financial
health while experiencing a significant revenue recovery.  The
airline's passenger revenue per available seat mile was 10.13
cents, an improvement of 12.6 percent over the prior year.  Total
revenue per available seat mile reached its highest second quarter
level since 2001 at 11.19 cents, an improvement of 10.7 percent
over the prior year.

"Every Crew Member has focused aggressively on delivering a
quality product and keeping our costs down," said Arne Haak,
AirTran Airways' senior vice president of finance, treasurer and
chief financial officer.  "Because of our fiscal discipline and
the continuing revenue recovery, we are on the right track for
long-term success. It is more important than ever for us to
maintain our cost focus at all levels of the organization,
particularly as the pace of economic recovery remains uncertain."

During the quarter, AirTran Airways and The Boeing Company agreed
to revise AirTran's Boeing 737 aircraft delivery schedule by
deferring deliveries of nine 737 aircraft between 2011 and 2014
until later dates, beginning in 2015 and ending in 2017.  The
companies also agreed to a 10-year lease of two additional Boeing
717 aircraft beginning in 2011.  Through these revisions, AirTran
Airways has reduced its capital requirements between 2010 and
2012.

AirTran Airways' unrestricted cash position at quarter's end was
$535.3 million and its revolving line of credit was undrawn.
During the quarter, the Company revised and extended the term of
its secured revolving credit facility.  The revised $100 million
facility has been extended to December 31, 2012.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?66fb

                      About AirTran Holdings

Headquartered in Orlando Florida, AirTran Holdings Inc. (NYSE:
AAI) -- http://www.airtran.com/-- through its wholly owned
subsidiary, AirTran Airways, Inc., operates scheduled airline
service throughout the United States and to selected international
locations.  As of February 1, 2010, the Company operated 86 Boeing
B717-200 aircraft and 52 Boeing B737-700 aircraft offering
approximately 700 scheduled flights per day to 63 locations in the
United States, including San Juan, Puerto Rico, and to Orangestad,
Aruba, Cancun, Mexico, and Nassau, The Bahamas.

At March 31, 2010, the Company had total assets of $2,285,822,000
against total current liabilities of $754,073,000, long-term
capital lease obligations of $15,017,000, long-term debt of
$906,479,000, other liabilities of $110,013,000, deferred income
taxes of $4,206,000, and derivative financial instruments of
$9,349,000, resulting in $486,685,000 in stockholders' equity.

                          *     *     *

In December 2009, Moody's Investors Service raised its ratings of
AirTran Holdings' corporate family and probability of default
ratings each to Caa1 from Caa2.  The 'Caa1' corporate family
rating considers the still high leverage and AirTran's exposure to
cyclical risks in the airline industry.

The airline's carries a corporate credit rating of CCC+/Stable/--
from Standard & Poor's.


ALMATIS B.V.: Has New Plan with Enhanced Recoveries
---------------------------------------------------
Almatis B.V. is withdrawing its prepackaged plan of reorganization
that pays senior creditors somewhere in the 85% range and junior
creditors hardly anything, to file a new plan that pays senior
creditors full recoveries, together with interest, and
significantly enhanced recoveries to junior creditors.

Almatis has reached a plan support agreement with Dubai
International Capital LLC and its supporting junior prepetition
lenders as well as obtained commitments for exit financing.  DIC
is the Debtors' largest ultimate equity holder.

The Amended Plan will be funded from:

     -- the $50 million revolving credit facility pledged by
        JPMorgan plc, Merrill Lynch International, JPMorgan Chase
        Bank, N.A., and Bank of America, N.A.;

     -- the sale of at least $400 million in U.S. dollar
        denominated senior secured notes to GSO Capital Partners
        LP;

     -- the sale of EUR110 million of Euro denominated senior
        secured notes to Sankaty Credit Opportunities IV, L.P.,
        and GoldenTree Asset Management LP; and

     -- a $100 million investment by DIC, which have been placed
        in escrow at JPMorgan.

Almatis is seeking Bankruptcy Court permission to enter into the
plan support agreement and execute the commitment letters as well
as pay related fees at a hearing for August 3, 2010.

Almatis is represented by Gibson Dunn & Crutcher LLP's team of
lawyers, led by co-chair of the Business Restructuring and
Reorganization Practice Group, Michael Rosenthal (based in New
York) and restructuring partner Greg Campbell (based in London),
and includes NY partners Janet Weiss and Mitch Karlan as well as
New York of counsel Matthew Kelsey.

                      About Almatis Group

Alamtis B.V., and its affiliates filed for Chapter 11 on April 30,
2010 (Bankr. S.D.N.Y. Lead Case No. 10-12308).  Almatis B.V.
estimated assets of US$500 million to US$1 billion and debts of
more than US$1 billion as of the bankruptcy filing.

Almatis, operationally headquartered in Frankfurt, Germany, is a
global leader in the development, manufacture and supply of
premium specialty alumina products.  With nearly 900 employees
worldwide, the company's products are used in a wide variety of
industries, including steel production, cement production, non-
ferrous metal production, plastics, paper, ceramics, carpet
manufacturing and electronic industries.  Almatis operates nine
production facilities worldwide and serves customers around the
world.  Until 2004, the business was known as the chemical
business of Alcoa.  Almatis is now owned by Dubai International
Capital LLC, the international investment arm of Dubai Holding.

Michael A. Rosenthal, Esq., at Gibson, Dunn & Crutcher LLP, serves
as counsel to the Debtors in the Chapter 11 cases.  Linklaters LLP
is the special English and German counsel and De Brauw Blackstone
Westbroek N.V. is Dutch counsel.  Epiq Bankruptcy Solutions, LLC,
serves as claims and notice agent.

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


AMACORE GROUP: Closes Health Benefits Group Division
----------------------------------------------------
The Amacore Group Inc. shut down its U.S. Health Benefits Group
Division.  USHBG has historically operated as an inbound lead
generation telemarketing operation primarily marketing major and
limited medical benefit plans.

For the year ending December 2008, USHBG had revenues of
$4.2 million and a net loss of $6.7 million.  For the year ended
December 2009, USHBG had revenues of $4.2 million and a net loss
of $5.4 million.  Factors that led to this decision were the
continued operating losses of the division and the increased
operating cash requirements of the division due to recent contract
terminations.

All employees of USHBG all independent sales agents have been
terminated.  The Company has made severance payments to such
employees and agents of approximately $60,000.  Currently, the
Company is negotiating the termination and severance for USHBG's
president.

                      About The Amacore Group

Based in Maitland, Florida, The Amacore Group, Inc., (OTC BB:
ACGI) -- http://www.amacoregroup.com/-- is primarily a provider
and marketer of healthcare related products, including healthcare
benefits, vision and dental networks, and administrative services
such as billing, fulfillment, patient advocacy, claims
administration and servicing.

The Company's balance sheet at March 31, 2010, showed $9.3 million
in total assets and $20.8 million in total liabilities, for a
total stockholders' deficit of $14.3 million.


AMERICREDIT CORP: Moody's Reviews 'B2' Corporate Family Rating
--------------------------------------------------------------
Moody's has placed the ratings of Americredit Corp. (corporate
family rating and senior unsecured debt rating at B2) under review
for possible upgrade.

The rating action follows the announcement that General Motors
(unrated) and ACF have entered into a definitive agreement for GM
to acquire ACF for approximately $3.5 billion in cash.  The
acquisition is expected to close by the end of the fourth quarter
of 2010.

Moody's will evaluate potential changes to ACF's stand-alone
credit profile as a result of its ownership by GM, including the
company's business strategy and financial policy -- particularly
its growth targets, business mix, funding strategy, and
capitalization.  Though Moody's does not rate GM, Moody's will
assess GM's business prospects and financial strength and their
likely effects on ACF's credit profile.  Finally, Moody's will
also consider any ongoing financial support to be provided by GM
to ACF and the specific nature of that support.

ACF is a leading independent automobile finance company that
provides financing solutions indirectly through auto dealers
across the United States.  AmeriCredit has approximately 800,000
customers and $9 billion in auto receivables.  GM is one of the
world's largest automakers; as of March 31, 2010, the company
reported total assets of $136 billion.


AMR CORP: CFO Thomas Horton Promoted to President
-------------------------------------------------
Thomas W. Horton was elected President of AMR Corporation and its
wholly-owned subsidiary, American Airlines, Inc., effective July
22, 2010.  Gerard J. Arpey, who has served as AMR's and American's
President and Chief Executive Officer since April 2003 and
Chairman since May 2004, continues to serve as the Chairman and
Chief Executive Officer of AMR and American.  Previously,
Mr. Horton, age 49, served as Executive Vice President of Finance
and Planning and Chief Financial Officer of AMR and American since
March 2006, when he returned to American from AT&T Corp., a
telecommunications company, where he had been Vice Chairman and
Chief Financial Officer.  Prior to leaving for AT&T Corp., Mr.
Horton was Senior Vice President and Chief Financial Officer of
AMR and American from January 2000 to 2002.  From June 1994 to
January 2000, Mr. Horton served as a Vice President of American
and prior to that served in various management positions of
American beginning in 1985.

Also, Isabella D. Goren was elected Senior Vice President and
Chief Financial Officer of AMR and American and will be the
principal accounting officer of each, effective July 22, 2010. Ms.
Goren, age 50, previously served as American's Senior Vice
President of Customer Relationship Marketing and Reservations
since March 2006.  Prior to that position, she served as
American's Vice President -- Interactive Marketing and
Reservations from July 2003 to March 2006,  Vice President --
Customer Services Planning from October 1998 to June 2003, and
President of AMR Services, a former subsidiary of AMR, from
September 1996 to October 1998.  Prior to that, Ms. Goren served
in various management positions of American beginning in 1986.

                       About AMR Corporation

Headquartered in Forth Worth, Texas, AMR Corporation (NYSE:
AMR) operates with its principal subsidiary, American Airlines
Inc. -- http://www.aa.com/-- a worldwide scheduled passenger
airline.  At the end of 2006, American provided scheduled jet
service to about 150 destinations throughout North America, the
Caribbean, Latin America, including Brazil, Europe and Asia.
American is also a scheduled airfreight carrier, providing
freight and mail services to shippers throughout its system.

Its wholly owned subsidiary, AMR Eagle Holding Corp., owns two
regional airlines, American Eagle Airlines Inc. and Executive
Airlines Inc., and does business as "American Eagle."  American
Beacon Advisors Inc., a wholly owned subsidiary of AMR, is
responsible for the investment and oversight of assets of AMR's
U.S. employee benefit plans, as well as AMR's short-term
investments.

At March 31, 2010, the Company had total assets of $25.525 billion
against total current liabilities of $8.241 billion, long-term
debt, less current maturities of $9.861 billion, obligations under
capital leases, less current obligations of $559 million, pension
and postretirement benefits of $7.531 billion, and other
liabilities, deferred gains and deferred credits of
$3.225 billion, resulting in stockholder's deficit of
$3.892 billion.

                           *     *     *

AMR carries a 'CCC' issuer default rating from Fitch Ratings.  It
has 'Caa1' corporate family and probability of default ratings
from Moody's.  It has 'B-' corporate credit rating, on watch
negative, from Standard & Poor's.


AMR CORP: Shrinks Net Loss to $10.7-Mil. in 2nd Quarter
-------------------------------------------------------
AMR Corporation reported a net loss of $10.7 million for the
second quarter of 2010, or $0.03 per share, compared to a net loss
of $390 million, or $1.39 per share, in the second quarter of
2009.

The results include the impact of significantly higher fuel prices
compared to the year-ago quarter.  Including the impact of fuel
hedging, AMR paid nearly $334 million more for jet fuel in the
second quarter, at an average of $2.37 per gallon, than it would
have paid at prices prevailing during the second quarter of 2009,
when it paid $1.90 per gallon.  The second quarter 2009 results
included the impact of approximately $70 million in non-recurring
charges related to the sale of certain aircraft and the grounding
of leased Airbus A300 aircraft prior to lease expiration.
Excluding those non-recurring charges, the second quarter 2009
loss was $319 million, or $1.14 per share.

"Though increased fuel prices added dramatically to our expenses
this quarter, we made substantial progress improving our financial
performance comparatively, both year-over-year and in sequential
quarters," said AMR Chairman and CEO Gerard Arpey. "As we move
forward, we remain focused on our primary goals of driving revenue
growth, controlling costs, and returning to sustained
profitability.

"Our plan to achieve these objectives is distinguished by our
cornerstone network strategy, the ongoing implementation of our
planned joint business agreements in the trans-Atlantic and trans-
Pacific markets, additional alliance and network activities, and
our ongoing fleet renewal efforts.

"Taken together, these initiatives are designed to grow revenue,
fortify our network, and control our unit costs -- all central
elements of our Flight Plan 2020.  We believe our plan, and these
initiatives, are paving the way to a more successful and
competitive company."

Arpey also highlighted several recent developments that
demonstrate the Company's progress in executing the five tenets of
Flight Plan 2020: Fly Profitably, Invest Wisely, Earn Customer
Loyalty, Strengthen and Defend our Global Network, and Be a Good
Place for Good People.

Since the end of the second quarter, American and fellow oneworld
members British Airways and Iberia received final regulatory
approval in the U.S. and European Union to operate a joint
business between North America and Europe.

Capitalizing on the momentum from the granting of antitrust
immunity across the Atlantic, and anticipating similar immunity
across the Pacific, AMR today announced a reorganization of its
senior management team.

Tom Horton, previously Executive Vice President Finance and
Planning and Chief Financial Officer, has been promoted to
President -- AMR and American Airlines and will continue to report
directly to Arpey.  With his expanded responsibilities, Horton
will oversee the finance, planning, sales and marketing, customer
service and information technology organizations. As part of these
changes, Bella Goren will assume the role of Senior Vice President
-- Chief Financial Officer. Goren, formerly Senior Vice President
- Customer Relationship Marketing, will report to Horton.

In addition, American this week announced it will expand its
partnership with JetBlue Airways in the coming months, so that
members of American's AAdvantage program and JetBlue's TrueBluer
customer loyalty program will be able to earn AAdvantage miles or
TrueBlue points, respectively, when they fly only on American and
JetBlue cooperative interline routes. Also, American today
extended its fleet renewal efforts by agreeing to purchase 35
more-fuel-efficient Boeing 737-800 aircraft to continue replacing
its MD80 fleet.

               Financial and Operational Performance

AMR reported second quarter consolidated revenues of approximately
$5.7 billion, an increase of 16.0 percent year over year.
American, its regional affiliates, and AA Cargo, as well as the
'other revenue' category, all experienced double-digit, year-over-
year increases, as total operating revenue was approximately
$785 million better in second quarter 2010 compared to the second
quarter of the previous year.

Consolidated passenger revenue per available seat mile grew
16.7 percent compared to the second quarter of 2009, while
mainline unit revenue at American grew 16.8 percent.  Tight
capacity control that drove higher load factors and improving
economic conditions drove higher unit revenue.

Passenger yield, which represents the average fares paid,
increased at American by 14.0 percent year over year in the second
quarter.

Mainline unit costs in the second quarter increased 3.5 percent
year over year, excluding fuel costs and 2009 special items.
Trans-Atlantic cancellations caused by the eruption of the
Icelandic volcano reduced operating earnings by an estimated
$17 million.

Mainline capacity, or total available seat miles, in the second
quarter decreased by 0.4 percent compared to the prior year's
second quarter, as the Company continues to maintain capacity
discipline.

American's mainline load factor -- or percentage of total seats
filled -- was 83.9 percent during the second quarter, 2.0 points
higher than the year-ago period.

                       Balance Sheet Update

The company's balance sheet for June 30, 2010, showed
$25.8 billion in total assets, $9.3 billion in total current
liabilities, $9.1 billion in long-term debt, $526.0 million in
obligation under capital leases, $7.5 billion in pension and
postretirement benefits, and $3.1 billion in other liabilities,
for a $3.9 billion in stockholders' deficit.

AMR ended the second quarter with approximately $5.5 billion in
cash and short-term investments, including a restricted balance of
$461 million, compared to a balance of $3.3 billion in cash and
short-term investments, including a restricted balance of
$460 million, at the end of the second quarter of 2009.

AMR's Total Debt, which it defines as the aggregate of its long-
term debt, capital lease obligations, the principal amount of
airport facility tax-exempt bonds, and the present value of
aircraft operating lease obligations, was $16.1 billion at the end
of the second quarter of 2010, compared to $14.2 billion a year
earlier.

AMR's Net Debt, which it defines as Total Debt less unrestricted
cash and short-term investments, was $11.0 billion at the end of
the second quarter, compared to $11.4 billion in the second
quarter of 2009.

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?66f8

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?66f9

                       About AMR Corporation

Headquartered in Forth Worth, Texas, AMR Corporation (NYSE:
AMR) operates with its principal subsidiary, American Airlines
Inc. -- http://www.aa.com/-- a worldwide scheduled passenger
airline.  At the end of 2006, American provided scheduled jet
service to about 150 destinations throughout North America, the
Caribbean, Latin America, including Brazil, Europe and Asia.
American is also a scheduled airfreight carrier, providing
freight and mail services to shippers throughout its system.

Its wholly owned subsidiary, AMR Eagle Holding Corp., owns two
regional airlines, American Eagle Airlines Inc. and Executive
Airlines Inc., and does business as "American Eagle."  American
Beacon Advisors Inc., a wholly owned subsidiary of AMR, is
responsible for the investment and oversight of assets of AMR's
U.S. employee benefit plans, as well as AMR's short-term
investments.

                           *     *     *

AMR carries a 'CCC' issuer default rating from Fitch Ratings.  It
has 'Caa1' corporate family and probability of default ratings
from Moody's.  It has 'B-' corporate credit rating, on watch
negative, from Standard & Poor's.


ANNALY BAY: Files Schedules of Assets and Liabilities
-----------------------------------------------------
Annaly Bay Development, LLC, a debtor-affiliate of Annaly Bay
Corporation, filed with the U.S. Bankruptcy Court for the District
of the Virgin Islands its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $39,600,000
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $20,000,000
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $2,140,000
                                 -----------      -----------
        TOTAL                    $39,600,000      $22,140,000

In a separate filing, Annaly Bay Corporation filed its schedules
of assets and liabilities disclosing total assets of $400,000 and
total liabilities of $22,140,000.

                   About Annaly Bay Corporation

Glendale, California-based Annaly Bay Corporation and Annaly Bay
Development, LLC, filed for Chapter 11 on April 11, 2010 (Bankr.
D. VI Case No. 10-10003 and 10-10002).  Benjamin A. Currence P.C.
assists the Debtors in their restructuring effort.  In their
petitions, the Debtors each listed assets and debts ranging from
$10,000,001 to $50,000,000.


ANNALY BAY: Taps Benjamin A. Currence as Bankruptcy Counsel
-----------------------------------------------------------
Annaly Bay Corporation asks the U.S. Bankruptcy Court for the
District of the Virgin Islands for permission to employ Benjamin
A. Currence, Esq., as counsel.

Mr. Currence will, among other things:

   a. give the Debtor legal advice with respect to the Debtor's
      powers and duties as Debtor;

   b. prepare on behalf of the Debtor as Debtor-in-possession all
      necessary applications, answers, motions, orders, reports,
      disclosure statements, plans of reorganization and other
      legal papers; and

   c. perform all other legal services for the Debtor which may be
      necessary in the case.

Mr. Currence will be under a general retainer because of the
extensive legal services required.  Mr. Currence's rate for his
services is $250 per hour plus costs as may be approved by this
Court.

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

                   About Annaly Bay Corporation

Glendale, California-based Annaly Bay Corporation and Annaly Bay
Development, LLC, filed for Chapter 11 on April 11, 2010 (Bankr.
D. VI Case No. 10-10003 and 10-10002).  Benjamin A. Currence P.C.
assists the Debtors in their restructuring effort.  In their
petitions, the Debtors each listed assets and debts ranging from
$10,000,001 to $50,000,000.


ANNALY BAY: U.S. Trustee Wants Reorganization Case Dismissed
------------------------------------------------------------
Donald F. Walton, the U.S. Trustee for Region 21, asks the U.S.
Bankruptcy Court for the District of the Virgin Islands to dismiss
the Chapter 11 case of Annaly Bay Corporation.

Mr. Walton explains that:

   -- the Debtor delayed the filing of its schedules of assets and
      liabilities, and statement of financial affairs, without
      having first obtained an extension to file;

   -- at the meeting of creditors held in connection with this
      case, neither representative of the Debtor who appeared and
      testified, nor the Debtor's attorney, were certain that the
      Debtor's bankruptcy petition was signed before it was filed
      with the Bankruptcy Court.

   -- the Debtor has had no significant operations since the
      commencement of its bankruptcy case and the Debtor has no
      operating capital; and

   -- the Debtor is not capable of taking steps necessary to
      rehabilitate its business and financial affairs.

As reported by the TCR on June 22, 2010, creditor DelrayLand Inc.
earlier sought for the dismissal of Annaly Bay and its affiliate's
Chapter 11 cases because they were filed in bad faith.  The
creditor also asked the Court to prohibit the Debtors from filing
another case under any chapter of the Bankruptcy Code for a period
of six months.

                   About Annaly Bay Corporation

Glendale, California-based Annaly Bay Corporation and Annaly Bay
Development, LLC, filed for Chapter 11 on April 11, 2010 (Bankr.
D. VI Case No. 10-10003 and 10-10002).  Benjamin A. Currence P.C.
assists the Debtors in their restructuring effort.  In their
petitions, the Debtors each listed assets and debts ranging from
$10,000,001 to $50,000,000.


ART PICCADILLY: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: ART Piccadilly Airport, LLC
        dba Piccadilly Inn Airport
        555 Republic Parkway, Suite 490
        Plano, TX 75034

Bankruptcy Case No.: 10-42374

Chapter 11 Petition Date: July 19, 2010

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Judge: Brenda T. Rhoades

Debtor's Counsel: John P. Lewis, Jr., Esq.
                  1412 Main Street, Suite 210
                  Dallas, TX 75202
                  Tel: (214) 742-5925
                  Fax: (214) 742-5928
                  E-mail: jplewisjr@mindspring.com

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

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by Ronald E. Akin, manager.


ASAP07 LLC: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: ASAP07 LLC
        16 East Ocean Heights Avenue
        Linwood, NJ 08221

Bankruptcy Case No.: 10-32067

Chapter 11 Petition Date: July 19, 2010

Court: U.S. Bankruptcy Court
       District of New Jersey (Camden)

Judge: Judith H. Wizmur

Debtor's Counsel: Moshe Rothenberg, Esq.
                  Law Office of Moshe Rothenberg
                  718 East Landis Avenue
                  Vineland, NJ 08360
                  Tel: (856) 236-4374
                  Fax: (856) 691-4122
                  E-mail: mosherothenberg@hotmail.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Sharon Ardelean, member of LLC.


AVAYA INC: Bank Debt Trades at 13% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Avaya, Inc., is a
borrower traded in the secondary market at 86.63 cents-on-the-
dollar during the week ended Friday, July 23, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.86 percentage
points from the previous week, The Journal relates.  The Company
pays 275 basis points above LIBOR to borrow under the facility,
which matures on Oct. 26, 2014.  The bank debt is not rated by
Moody's and Standard & Poor's.  The loan is one of the biggest
gainers and losers among 194 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

The Troubled Company Reporter stated on Dec. 23, 2009, that
Moody's downgraded Avaya's corporate family rating to B3 from B2.
The downgrade was driven by challenges presented by the
acquisition of Nortel's enterprise assets as well as the large
amount of additional debt incurred to finance the acquisition
(around $1 billion).

Avaya, Inc., is a supplier of communication equipment and software
that integrates voice and data services for customers including
large corporations, government agencies, and small businesses.
Avaya's office phone systems incorporate Internet protocol (IP)
and Session Initiation protocol (SIP) telephony, messaging, Web
access, and interactive voice response.  The company offers a wide
array of consulting, integration, and managed services through its
Avaya Global Services unit.  It sells directly and through
distributors, resellers, systems integrators, and
telecommunications service providers.  Avaya was acquired by
Silver Lake Partners and TPG Capital for $8.2 billion in 2007.


BAY CITI: 4 Lembi Group/CitiApartments Firms File for Bankruptcy
----------------------------------------------------------------
Four affiliated companies which own properties in San Francisco,
California and are owned in whole or in part by entities owned by
Frank and Walter Lembi voluntarily filed for chapter 11 protection
in the Northern District of California bankruptcy court,
netDockets Blog reports.

According to the report, in February, a separate group of
companies related to the Lembi family also filed for chapter 11
protections in San Francisco.  The report relates that the family
operated the much-maligned CitiApartments, which was once one of
the largest landlords in San Francisco.

The four companies, the report notes, that filed for bankruptcy
last week are 621 Stockton DE, LLC, Bay Citi Properties II DE,
LLC, Civic Properties DE, LLC, and LRL Citigroup Properties II,
DE, LLC.  The properties owned by these companies are located at
the following addresses (all in San Francisco, CA):

   * 621 Stockton St. (owned by 621 Stockton DE, LLC)
   * 915 Pierce St. (owned by Bay Citi Properties II DE, LLC)
   * 601 O'Farrell St. (owned by Bay Citi Properties II DE, LLC)
   * 400 Duboce (owned by Civic Properties DE, LLC)
   * 100 Broderick (owned by Civic Properties DE, LLC)
   * 106 Sanchez (owned by Civic Properties DE, LLC)
   * 925 Geary St. (owned by LRL Citigroup Properties II, DE, LLC)
   * 540 Leavenworth St. (owned by LRL Citigroup Properties II,
     DE, LLC)


BIOMET INC: Bank Debt Trades at 3% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Biomet, Inc., is a
borrower traded in the secondary market at 96.68 cents-on-the-
dollar during the week ended Friday, July 23, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.60 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 March 25, 2015, and carries Moody's B1
rating and Standard & Poor's BB- rating.  The loan is one of the
biggest gainers and losers among 194 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

Biomet, Inc. -- http://www.biomet.com/-- based in Warsaw,
Indiana, is one of the leading manufacturers of orthopedic
implants, specializing in reconstructive devices.  Through its EBI
subsidiary, the firm also sells electrical bone-growth stimulators
and external devices, which are attached to bone and protrude from
the skin.  Subsidiary Biomet Microfixation markets implants and
bone substitute material for craniomaxillofacial surgery.  In 2007
Biomet was acquired by a group of private equity firms for more
than $11 billion.


BMS REAL ESTATE: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: BMS Real Estate, LLC
        1435 East Old West Highway
        Apache Junction, AZ 85219

Bankruptcy Case No.: 10-22387

Chapter 11 Petition Date: July 19, 2010

Court: U.S. Bankruptcy Court
       District of Arizona (Tucson)

Judge: Eileen W. Hollowell

Debtor's Counsel: J. Kent Mackinlay, Esq.
                  Warnock, Mackinlay & Carman, PLLC
                  1019 S. Stapley Drive
                  Mesa, AZ 85204
                  Tel: (480) 898-9239
                  Fax: (480) 833-2175
                  E-mail: kent@mackinlaylawoffice.com

Estimated Assets: $1,000,001 to $100,000,000

Estimated Debts: $1,000,001 to $100,000,000

The Company did not file a list of creditors together with its
petition.

The petition was signed by Brian K. Brown, president.


BOMBARDIER RECREATIONAL: Moody's Keeps 'Caa1'; Outlook Now Stable
-----------------------------------------------------------------
Moody's Investors Service revised Bombardier Recreational Products
Inc.'s rating outlook to stable from negative due to improvements
in the company's liquidity position following the refinancing of
its revolving credit facility as well as firming industry
conditions.  Moody's also affirmed all ratings of BRP, including
its Caa1 Corporate Family Rating, Caa1 Probability of Default
Rating, B2 Senior Secured Revolving Credit Facility and Caa1
Senior Secured Term Loan.

Outlook Actions:

  -- Outlook, Changed to Stable from Negative

Affirmations:

  -- Probability of Default Rating, affirmed at Caa1
  -- Corporate Family Rating, affirmed at Caa1
  -- Senior Secured Bank Revolver, affirmed at B2 (LGD2, 26%)
  -- Senior Secured Bank Term Loan, affirmed at Caa1 (LGD 4, 52%)

Darren Kirk, a Vice President with Moody's Investors Service
stated, "BRP's extension of its revolving credit facility maturity
until 2013 combined with better than expected operating momentum
has alleviated Moody's prior concerns over the adequacy of its
liquidity position".  Kirk added, "the company appears likely to
improve its financial metrics from levels that are currently
stretched for its Caa1 Corporate Family Rating".

As industry conditions continue to stabilize, Moody's expects that
excess inventory levels within the company's dealer network to
reduce.  With this constraint easing, BRP's volumes may improve
modestly through the near term.  The company's EBITA margin should
also strengthen as curtailed production levels now appear to be
aligned with current levels of expected demand and the company has
implemented significant cost reductions generally.  Consequently,
Moody's expects that BRP's adjusted leverage and EBITA/ Interest
coverage metrics may improve towards 6x and 1x respectively over
the next year.  In the event that the improvement in BRP's
earnings fall short of Moody's current expectations, downside
risks are contained by the company's strengthened liquidity
position.

BRP's Caa1 rating reflects the sudden and significant contraction
in demand that can occur for its relatively high-priced,
discretionary goods.  The rating also considers that BRP's
globally diverse portfolio of recreational products benefit from
well-recognized brand names and leading market positions.  The
company's heightened leverage and weak cash flow trends arising
from the deep recession period of 2008 and 2009 as well as
prolonged weak economic conditions which will likely hinder any
robust improvement to its results are also considered within its
rating.

The last rating action on BRP was taken on April 9, 2009, when
Moody's downgraded the company's Corporate Family Rating to Caa1
with a negative outlook from B3 with a stable outlook.

Headquartered in Valcourt, Quebec, Bombardier Recreational
Products Inc. is a leading designer, manufacturer, and distributor
of motorized recreational products worldwide.


BOSTON GENERATING: S&P Sees Bankruptcy Filing in Q3 Amid Debt Load
------------------------------------------------------------------
Mark Peters at Dow Jones Newswires reports that Standard & Poor's
expects privately-held Boston Generating LLC, one of the largest
power generators in New England, will likely file for bankruptcy
protection by fall.

According to the report, S&P said Thursday that Boston Generating
has too much debt and likely will seek protection in the third
quarter.

S&P lowered several debt ratings on Boston Generating, citing in
part increasing concerns over uncertainty surrounding payments
that power plants in the New England market receive to be ready
and operational.

In April, Boston Generating announced a strategic sale process as
part of efforts to restructure the company.  Dow Jones relates
that a spokesman for the company said those efforts are ongoing,
but declined to comment on the bankruptcy timeline projected by
S&P.

Boston Generating owns nearly 3,000 megawatts of mostly modern
natural gas-fired power plants in the Boston area.  It is an
indirect subsidiary of US Power Generating Co., and considers
itself as the third-largest fleet of plants in New England.


BRAVO HEALTH: S&P Raises Counterparty Credit Rating to 'B+'
-----------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
counterparty credit rating on Bravo Health Inc. to 'B+' from 'B'.

Standard & Poor's also said that the outlook on Bravo is stable.

"S&P raised the rating because of Bravo's improved financial
profile, strong membership growth, and continued emphasis on and
proficiency with managing medical costs," explained Standard &
Poor's credit analyst James Sung.  "However, Bravo's business
profile, which has a product concentration in the government-
sponsored market segment and a geographic concentration in
Pennsylvania, continues to constrain the rating." These high
concentrations increase the risk of adverse regulatory and
legislative action in the specific market or product segment.

In terms of profitability, the company reported an EBIDTA margin
of 7% in 2009, and S&P expects it to report a margin of more than
5% for full-year 2010.  Despite the slight margin decline, S&P
considers this level of profitability to be strong for the rating.
This level of earnings also helps the company maintain a strong
EBITDA interest coverage ratio.  The company's membership base
continues to grow rapidly, as its 22% growth in Medicare Advantage
Part D (MAPD) members during the first three months of 2010
demonstrates.

S&P views the company's medical cost management capabilities as a
key strength to the rating.  The company is able to maintain a
tight band around in medical loss ratio.  Bravo has recently set
up two Advanced Care Centers in Philadelphia, which has further
helped reduce hospital utilization.

The company is pursuing a strategy of rapidly de-leveraging its
balance sheet.  Although this is a favorable trend, S&P does not
believe that the company will likely maintain this low level of
leverage in the long term.  In S&P's view, the company's tolerance
for debt leverage or debt-to-EBITDA is greater than the 2010
projected levels.  As a result, S&P believes it is likely that the
company could increase its debt leverage if needed.  However, S&P
does consider the historical (2009) leverage level as supportive
of the rating.

The outlook is stable.  However, if there is any unexpected
decline in profitability or statutory capital, or if regulatory
changes materially affect the company, S&P will likely lower the
rating.  Any significant increase in Bravo's debt leverage above
historical levels, or significant change in the company's business
profile, could also have a negative ratings impact.

For full-year 2010, S&P expects that Bravo will report
$1.7 billion-$2 billion of premiums, EBITDA of $95 million-
$100 million, and an EBITDA margin (excluding realized gains and
losses) of 5%-6%.  S&P expects margins to be in the similar range
in 2011, with EBITDA interest coverage remaining at more than 5x
in the near term.  The company will likely continue its growth
momentum, with MAPD membership likely reaching 105,000 and
Medicare PDP membership at 290,000 members at year-end 2010.
Bravo's statutory capital likely will grow.  S&P expects that by
year-end 2010, Bravo's debt leverage will decrease, but S&P
expects that the company will likely increase leverage in the next
1-2 years, depending on the market opportunities it pursues.


BRIER CREEK: Case Dismissed, Can Sell Property to Pay Creditors
---------------------------------------------------------------
The Hon. Anthony J. Metz III of the U.S. Bankruptcy Court for the
Southern District of Indiana dismissed the Chapter 11 case of
Brier Creek FC, LLC.

As reported in the Troubled Company Reporter on June 30, 2010, the
Debtor related that it reached an agreement with Fund X EBC NH
L.L.C., the lender, and Fund X EBC Raleigh, L.L.C., the buyer,
which provides, among other things, that upon dismissal of the
Bankruptcy Case, the Debtor will sell the real property securing
the note to the buyer, and in exchange, the buyer will make a
payment to the Debtor to be used to: (i) make full payment of
prepetition claims and administrative expense claims of all
undisputed non-insider creditors other than the lender, and (ii)
make partial payment to insider creditors of the Debtor.

                    About Brier Creek FC, LLC

Indianapolis, Indiana-based Brier Creek FC, LLC, dba The Exchange
at Brier Creek, filed for Chapter 11 bankruptcy protection on
April 20, 2010 (Bankr. S.D. Ind. Case No. 10-05645).  The Company
estimated its assets and debts at $10,000,001 to $50,000,000.


BROWN PUBLISHING: President Takes Most Assets at Auction
--------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Brown Publishing Co.
named:

     -- The Delphos Herald Inc. as the winner of the July 19
        auction for three of its publications in Ohio.  Delphos
        offered $3.59 million cash; and

     -- a group including Roy Brown, the Debtor's president and
        chief executive, as the winner of the auction for the
        remainder of the Debtor's assets.  The winning bid was
        $22.41 million plus $900,000 in assumption or waiver of
        debt. Before the auction, the Brown group was under
        contract for $15.9 million.

The hearing for approval of the sales began July 22 and will
continue July 29.

Business Report of Boulder County reports that the sale is facing
opposition from minority shareholder Windjammer Mezzanine and
Equity Fund II LP, and one from the Official Committee of
Unsecured Creditors.

                   About Brown Publishing Company

Headquartered in Cincinnati, Ohio, The Brown Publishing Company
owns business publications in Ohio, Utah, Texas, South Carolina,
New York, and Iowa.  Brown publishes 15 daily, 32 weekly, 11
business and 41 free publications.  There are also 51 websites.
Seventy-eight of the publications are in Ohio. Brown publishes
Dan's Papers, the weekly newspaper with the largest circulation in
the area of eastern Long Island, New York, known as the Hamptons.
Brown also publishes the Montauk Pioneer, which it calls the
official newspaper of Montauk, New York.

The Company filed for Chapter 11 bankruptcy protection on
April 30, 2010 (Bankr. E.D.N.Y. Case No. 10-73295).  Edward M.
Fox, Esq., at K&L Gates LLP, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $10,000,001 to $50,000,000.


BUCYRUS COMMUNITY: Court Extends Plan Filing Until November 16
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Ohio
extended Bucyrus Community Hospital, Inc.'s exclusive period to
file and solicit acceptances for the proposed Chapter 11 Plan
until November 16, 2010, and January 13, 2011, respectively.

Bucyrus, Ohio-based Bucyrus Community Hospital, Inc., filed for
Chapter 11 bankruptcy protection on March 19, 2010 (Bankr. N.D.
Ohio Case No. 10-61078).  Melissa Asbrock, Esq., and Shawn M.
Riley, Esq., at McDonald Hopkins LLC, assist the Debtor in its
restructuring effort.  The Debtor estimated its assets and debts
at $10,000,001 to $50,000,000.

The Company's affiliate, Bucyrus Community Physicians, Inc., filed
a separate Chapter 11 petition (Case No. 10-61081) on March 19,
2010, estimating its assets and debts at $500,000 to $1 million.


C & M CONSTRUCTION: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: C & M Construction Management, LLC
        330 Franklin Road, Suite 135A
        Brentwood, TN 37027

Bankruptcy Case No.: 10-07498

Chapter 11 Petition Date: July 19, 2010

Court: U.S. Bankruptcy Court
       Middle District of Tennessee (Nashville)

Judge: Marian F. Harrison

Debtor's Counsel: Robert L. Scruggs, Esq.
                  Robert L Scruggs Attorney
                  2525 21st Avenue South
                  Nashville, TN 37212
                  Tel: (615) 309-7090
                  Fax: (615) 309-7046
                  E-mail: bankruptcy@scruggs-law.com

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

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

According to the schedules, the Company says that assets total
$1,121,818 while debts total $813,285.

A copy of the Company's list of 6 largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/tnmb10-07498.pdf

The petition was signed by Keith Churn, president.


C&H ARIZONA: Taps Simbro & Stanley as Bankruptcy Counsel
--------------------------------------------------------
C&H Arizona-Stucky, LLC, sought and obtained authorization from
the Hon. Randolph J. Haines of the U.S. Bankruptcy Court for the
District of Arizona to employ Simbro & Stanley, PLC, as bankruptcy
counsel.

Simbro & Stanley will represent the Debtor in all matters arising
in the Chapter 11 case including plan confirmation proceedings,
retention and coordination of experts that may be retained by the
Debtor, litigation matters which may arise that involve the
Debtor, and such other matters that may arise in prosecuting this
case and safeguarding the rights of the Debtor and the estate.

Edwin B. Stanley, Esq., a principal at Simbro & Stanley, says that
the firm will charge the Debtor $150 per hour for its services.

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

Walnut Creek, California-based C&H Arizona-Stucky, LLC, filed for
Chapter 11 bankruptcy protection on July 7, 2010 (Bankr. D. Ariz.
Case No. 10-21165).  The Company listed $10,000,001 to $50,000,000
in assets and $1,000,001 to $10,000,000 in liabilities.


C&H ARIZONA: Section 341(a) Meeting Scheduled for Aug. 10
---------------------------------------------------------
The U.S. Trustee for Region 14 will convene a meeting of C&H
Arizona-Stucky, LLC's creditors on August 10, 2010, at 10:30 a.m.
The meeting will be held at the US Trustee Meeting Room, 230 N.
First Avenue, Suite 102, Phoenix, AZ (341-PHX).

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

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

Walnut Creek, California-based C&H Arizona-Stucky, LLC, filed for
Chapter 11 bankruptcy protection on July 7, 2010 (Bankr. D. Ariz.
Case No. 10-21165).  Edwin B. Stanley, Esq., at Simbro & Stanley,
PLC, 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.


C&H ARIZONA: Files Schedules of Assets & Liabilities
----------------------------------------------------
C&H Arizona-Stucky, LLC, has filed with the U.S. Bankruptcy Court
for the District of Arizona its schedules of assets and
liabilities, disclosing:

  Name of Schedule                      Assets         Liabilities
  ----------------                      ------         -----------
A. Real Property                     $17,100,000
B. Personal Property                    $964,966
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                       $9,060,000
E. Creditors Holding
   Unsecured Priority
   Claims                                                       $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                 $107,574
                                     -----------       -----------
      TOTAL                          $18,064,966        $9,167,574

Walnut Creek, California-based C&H Arizona-Stucky, LLC, filed for
Chapter 11 bankruptcy protection on July 7, 2010 (Bankr. D. Ariz.
Case No. 10-21165).  Edwin B. Stanley, Esq., at Simbro & Stanley,
PLC, assists the Company in its restructuring effort.


C&H ARIZONA: MSDW Won't Allow Cash Collateral Use
-------------------------------------------------
MSDW 2000-Life 1 Stucky Store, LLC, has filed a notice with the
U.S. Bankruptcy Court for the District of Arizona, disclosing its
non-consent to the use of its cash collateral.

MSDW, as the successor-in-interest, is the holder of a valid and
perfected security interest in certain real property of Debtor
commonly known as 15440 N. Scottsdale Road, Scottsdale, AZ 85254,
including rents and receivables generated from the aforementioned
property, which interest is evidenced by a certain Deed of Trust,
Assignment of Leases and Rents and Security Agreement dated
September 20, 1999, and certain Assignment of Leases and Rents
dated September 20, 1999.  MSDW's lien in the rents and
receivables generated from the real property is specifically set
forth in the Deed of Trust and the Assignment.  Pursuant to the
Deed of Trust and Assignment, any and all proceeds from the
Property constitute MSDW's cash collateral.

The Debtor has not requested that MSDW consent to the use of cash
collateral, and has not filed a motion for use of cash collateral
with this Court.

MSDW is represented by Snell & Wilmer.

Walnut Creek, California-based C&H Arizona-Stucky, LLC, filed for
Chapter 11 bankruptcy protection on July 7, 2010 (Bankr. D. Ariz.
Case No. 10-21165).  Edwin B. Stanley, Esq., at Simbro & Stanley,
PLC, 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.


CACI INTERNATIONAL: Moody's Affirms 'Ba2' Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service has affirmed the Ba2 corporate family
and probability of default ratings of CACI International, Inc.
The positive ratings outlook continues.  CACI's speculative grade
liquidity rating has been lowered to SGL-3 from SGL-1.

The Ba2 corporate family rating affirmation reflects CACI's
growing scale, sustained moderate leverage, good cash flow
generation and likelihood that demand from the U.S. Department of
Defense, including the U.S. Army, should remain favorable into
2012.  Beyond 2012, moderation of U.S. defense budgets should
begin tempering CACI's strong organic revenue growth rates.
Credit metrics are strong for the rating level, but relatively
high revenue concentration exists, and the company has signaled
renewed acquisition spend upcoming.

The positive outlook reflects Moody's expectation that CACI will
likely be able to manage its expansion plans within parameters
that support a higher rating.  CACI's focus on expanding its
federal health and energy business lines would help diversify
revenues and may help offset ebbing defense-related demand beyond
2012.  Operating margins should not decline further as low margin
material and other non-direct labor revenues decline as a
percentage of total revenues.  As well, good cash flow
characteristics of the service business model, internal growth
over the next couple of years, and the company's historically
prudent capital structure management should limit borrowing for
acquisitions.

The speculative grade liquidity rating downgrade to SGL-3 from
SGL-1 reflects an adequate but diminished liquidity profile.  In
May 2011 CACI's $279 million senior secured term loan matures and
its $240 million (undrawn) revolver expires.  As of March 2010,
the company had $175 million of cash on hand.  In Moody's view
internal cash flow generation and the cash on hand would
adequately cover the maturity and expected operating requirements,
but room for error would not be large.  (The speculative grade
liquidity analysis assumes no market access for refinancing
needs.)  The SGL-3 encompasses the recently announced $50 million
share repurchase authorization.  However, the rating does not
envision conversion of CACI's convertible subordinated notes due
2014, which require cash settlement of the $300 million principal
amount; likelihood of conversion near-term appears sufficiently
low to exclude it from the 12-month liquidity projection.  The
company plans to refinance the maturity during the third quarter
of 2010 and the SGL-3 rating would likely improve with a new or
extended bank credit facility.

Upward rating potential could accelerate after CACI addresses the
2011 term loan maturity.  Rating upgrade would depend on
expectation of continued positive organic revenue growth, return
on assets approaching 5% and a sustained good liquidity profile.
While the positive outlook acknowledges that acquisitions could
temporarily increase financial leverage, it assumes rapid de-
levering to the low 3.0 times range thereafter.  Although not
contemplated, downward rating momentum could develop without
liquidity profile improvement, or if margin erosion continues with
leverage exceeding 4.0 times.

The ratings are:

* Corporate family and probability of default Ba2

* $240 million senior secured revolver due May 2011 Baa3 LGD 2,
  21%

* $279 million senior secured term loan B due May 2011 Baa3 LGD 2,
  21%

* Speculative grade liquidity to SGL-3 from SGL-1

Moody's last rating action on CACI occurred January 15, 2010, when
the Ba2 corporate family rating was affirmed and the rating
outlook was changed to positive from stable.

CACI International Inc, based in Arlington, VA, provides
information technology services and solutions for the U.S.
Department of Defense, federal civilian agencies, the government
of the United Kingdom as well as large commercial enterprises and
state and local governments.  Last twelve months ended March 2010
revenues were $3.0 billion.


CARDTRONICS INC: Note Redemption Won't Affect Moody's 'B2' Rating
-----------------------------------------------------------------
Moody's Investors Service says that Cardtronics, Inc.'s B2
corporate family rating and positive ratings outlook will not be
affected by the Company's announcement that it plans to redeem
$100 million of its 9.25% senior subordinated notes (Series B) due
in 2013.

The previous rating action occurred on November 13, 2009, when
Moody's upgraded Cardtronics' CFR to B2 with a positive ratings
outlook, and raised the rating for the Company's senior
subordinated note to B3.

Cardtronics Inc, which is headquartered in Houston, TX, is a
leading ATM operator with over 33,700 ATMs in service in the U.S.,
the U.K. and Mexico.  The Company had revenues of approximately
$506 million for the last twelve months ended March 31, 2010.


CATHOLIC CHURCH: Del. Judge Won't Reconsider $75MM Trust Ruling
---------------------------------------------------------------
In a victory for unsecured creditors of the Catholic Diocese of
Wilmington Inc., a bankruptcy judge has rejected a request to
reconsider his ruling that $75 million held in trust by the
diocese for nondebtor affiliates such as parishes belongs to the
bankruptcy estate, Bankruptcy Law360 reports.

Law360 says Judge Christopher S. Sontchi of the U.S. Bankruptcy
Court for the District of Delaware ruled Tuesday that the
nondebtors had presented no new evidence that they could trace the
funds.

                   About the Diocese of Wilmington

The Diocese of Wilmington covers Delaware and the Eastern Shore of
Maryland and serves about 230,000 Catholics.  The Delaware diocese
is the seventh Roman Catholic diocese to file for Chapter 11
protection to deal with lawsuits for sexual abuse.  Previous
filings were by the dioceses in Spokane, Washington; Portland,
Oregon; Tucson, Arizona; Davenport, Iowa, Fairbanks, Alaska; and
San Diego, California.

The bankruptcy filing automatically stayed eight consecutive abuse
trials scheduled in Delaware scheduled to begin October 19.  There
are 131 cases filed against the Diocese, with 30 scheduled for
trial.

The Diocese filed for Chapter 11 on Oct. 18, 2009 (Bankr. D. Del.
Case No. 09-13560).  Attorneys at Young Conaway Stargatt & Taylor,
LLP, serve as counsel to the Diocese.  The Ramaekers Group, LLC is
the financial advisor.  The petition says assets range $50,000,001
to $100,000,000 while debts are between $100,000,001 to
$500,000,000. (Catholic Church Bankruptcy News; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


CEDAR FAIR LP: Bank Debt Trades at 1% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Cedar Fair L.P. is
a borrower traded in the secondary market at 98.98 cents-on-the-
dollar during the week ended Friday, July 23, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 1.12 percentage
points from the previous week, The Journal relates.  The Company
pays 400 basis points above LIBOR to borrow under the facility.
The bank loan matures on Aug. 30, 2012, and carries Moody's Ba3
rating and Standard & Poor's BB- rating.  The loan is one of the
biggest gainers and losers among 194 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 May 24, 2010,
Standard & Poor's assigned its ratings to Cedar Fair L.P.'s $1.35
billion secured credit facilities, consisting of a $1.05 billion
term loan due 2017 and a $300 million revolving credit facility
due 2015.

S&P rated the facilities 'BB-' (one notch higher than the 'B+'
corporate credit rating on the company) with a recovery rating of
'2', indicating an expectation of substantial (70% to 90%)
recovery for lenders in the event of a payment default.  S&P also
rated the company's $500 million senior notes due 2020 (privately
placed under Rule 144A with surveillance) 'B-' (two notches lower
than the 'B+' corporate credit rating) with a recovery rating of
'6', indicating an expectation of negligible (0% to 10%) recovery
for noteholders in the event of a payment default.  S&P affirmed
its corporate credit rating on Cedar Fair at 'B+'.  The rating
outlook is stable."

The TCR also reported on May 24, 2010, that Moody's changed Cedar
Fair L.P.'s rating outlook to stable from negative, upgraded the
speculative-grade liquidity rating to SGL-2 from SGL-3 and
assigned a Ba2 rating to its proposed $1.35 billion senior secured
bank credit facilities and B2 rating to its proposed $500 million
senior unsecured notes.  Moody's also affirmed Cedar Fair's Ba3
Corporate Family Rating (CFR) and upgraded the Probability of
Default rating to Ba3 from B1.  Cedar Fair plans to utilize the
net proceeds from the proposed offerings to refinance its $1.7
billion of existing debt.

Cedar Fair's leverage is high and weakly positions the company
within the Ba3 CFR, but Moody's expects the company will continue
to execute its plan to pay down debt and reduce leverage and this
drives the change in the rating outlook to stable.

Cedar Fair, headquartered in Sandusky, Ohio, is a publicly traded
Delaware master limited partnership (MLP) formed in 1987 that owns
and operates 11 amusement parks, seven water parks (six outdoor
and one indoor) and hotels in North America. Properties are
located in the U.S. and Canada and include Cedar Point (OH),
King's Island (OH), Knott's Berry Farm (CA), and Canada's
Wonderland (Toronto). In June 2006, Cedar Fair, L.P. completed the
acquisition of Paramount Parks, Inc. ("Paramount Parks") from a
subsidiary of CBS Corporation for a purchase price of $1.24
billion. Cedar Fair's revenue for the LTM ended 3/28/2010, was
around $917 million.


CENTAUR LLC: Doesn't Object to Creditor Suit on Lien Invalidity
---------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Centaur LLC doesn't
object to allowing the Official Committee of Unsecured Creditors
to file suit over what the panel says are defects in the security
interests on $192 million in collateral claimed by the first-and
second-lien lenders.  The Company doesn't believe success in the
suit would take more than $15 million away from the lenders
because their claims are so much larger than those of unsecured
creditors.  Consequently, Centaur doesn't want a suit to delay
what it hopes will be a Sept. 23 confirmation hearing for approval
of a Chapter 11 plan.

According to the report, Centaur, while not opposing a suit by the
Committee, doesn't want the Committee to have exclusive right to
settle with the lenders.  The Company wants to retain the right to
settle.

Centaur, Bloomberg relates, says the assets aren't worth enough to
pay even the first-lien debt in full.

Centaur has a July 28 hearing for approval for auction and sales
procedures pertaining to the Fortune Valley Hotel & Casino 40
miles west of Denver.  The initial bid will come from Luna Gaming
Central City LLC.  The price is $7.5 million cash plus a
$2.5 million note, less adjustments.

                       About Centaur, LLC

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

The Company filed for Chapter 11 bankruptcy protection on March 6,
2010 (Bankr. D. Delaware Case No. 10-10799).  Jeffrey M. Schlerf,
Esq., at Fox Rothschild LLP, assists the Company in its
restructuring effort.  The Company estimated its assets and debts
at $500,000,001 to $1,000,000,000 as of the Petition Date.


CHAMPION ENTERPRISES: Wants Until October 12 to File Ch. 11 Plan
----------------------------------------------------------------
Champion Enterprises, Inc., et al., ask the U.S. Bankruptcy Court
for the District of Delaware to extend their exclusive period to
file a Chapter 11 Plan from July 13, 2010, to October 12; and
solicit acceptances for the proposed Plan from September 11 to
December 10.

The Debtor needs additional time to negotiate an acceptable Plan
with creditors and to prepare adequate financial and nonfinancial
information concerning the ramifications of any proposed PLan for
disclosure to creditors.

The Debtor proposes a hearing on its exclusivity extension on
August 17, at 11:00 a.m. (prevailing Eastern Time).  Objections,
if any, are due on August 10, at 4:00 p.m.

                 About Champion Enterprises, Inc.

Troy, Michigan-based Champion Enterprises, Inc., and its
subsidiaries are international manufacturers of factory-built
homes and steel-framed modular buildings, with operations in the
United States, Canada and the United Kingdom.  Buildings
constructed by Champion and its subsidiaries consist of both
single and multi-module units designed for either commercial or
residential purposes.  Champion products range from single-module
HUD-Code homes to sophisticated commercial structures such as
hotels.

The Company filed for Chapter 11 on November 15, 2009 (Bankr. D.
Del. Case No. 09-14019).  The Company's affiliates also filed
separate bankruptcy petitions.  James E. O'Neill, Esq., Laura
Davis Jones, Esq., Mark M. Billion, Esq., Timothy P. Cairns, Esq.,
at Pachulski Stang Ziehl & Jones LLP, assist Champion in its
restructuring effort.  The Company listed $576,527,000 in assets
and $521,337,000 in liabilities as of October 3, 2009.


CHARTER COMMS: Bank Debt Trades at 6% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Charter
Communications, Inc., is a borrower traded in the secondary market
at 93.80 cents-on-the-dollar during the week ended Friday, July
23, 2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 0.67 percentage points from the previous week, The Journal
relates.  The Company pays 262.5 basis points above LIBOR to
borrow under the facility, which matures on March 6, 2014.
Moody's has withdrawn its rating on the bank debt while it carries
Standard & Poor's BB+ rating.  The loan is one of the biggest
gainers and losers among 194 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 provides a full range of advanced
broadband services, including advanced Charter Digital Cable(R)
video entertainment programming, Charter High-Speed(R) Internet
access, and Charter Telephone(R).  Charter Business(TM) similarly
provides scalable, tailored, and cost-effective broadband
communications solutions to business organizations, such as
business-to-business Internet access, data networking, video and
music entertainment services, and business telephone.  Charter's
advertising sales and production services are sold under the
Charter Media(R) brand.

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

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

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

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

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

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


CLEAR CHANNEL: Bank Debt Trades at 22% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Clear Channel
Communications, Inc., is a borrower traded in the secondary market
at 77.88 cents-on-the-dollar during the week ended Friday,
July 23, 2010, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 1.30 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 loan is one of the biggest gainers and losers among
194 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.


COMMUNITY HEALTH: Bank Debt Trades at 6% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Community Health
Systems, Inc., is a borrower traded in the secondary market at
94.13 cents-on-the-dollar during the week ended Friday, July 23,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 0.64 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
loan is one of the biggest gainers and losers among 194 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.


COMMUNITY SECURITY BANK: Closed; Roundbank Assumes All Deposits
---------------------------------------------------------------
Community Security Bank of New Prague, Minn., was closed on
July 23, 2010, by the Minnesota Department of Commerce, which
appointed the Federal Deposit Insurance Corporation as receiver.
To protect the depositors, the FDIC entered into a purchase and
assumption agreement with Roundbank of Waseca, Minn., to assume
all of the deposits of Community Security Bank.

The sole branch of Community Security Bank will reopen during
normal business hours as a branch of Roundbank.  Depositors of
Community Security Bank will automatically become depositors of
Roundbank.  Deposits will continue to be insured by the FDIC, so
there is no need for customers to change their banking
relationship in order to retain their deposit insurance coverage.
Customers of Community Security Bank should continue to use their
existing branch until they receive notice from Roundbank that it
has completed systems changes to allow other Roundbank branches to
process their accounts as well.

As of March 31, 2010, Community Security Bank had around $108.0
million in total assets and $99.7 million in total deposits.
Roundbank will pay the FDIC a premium of 0.89 percent to assume
all of the deposits of Community Security Bank.  In addition to
assuming all of the deposits of the failed bank, Roundbank agreed
to purchase essentially all of the assets.

Customers who have questions about the transaction can call the
FDIC toll-free at 1-866-692-8944.  Interested parties also can
visit the FDIC's website at:

  http://www.fdic.gov/bank/individual/failed/communitysecmn.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $18.6 million.  Compared to other alternatives,
Roundbank's acquisition was the least costly resolution for the
FDIC's DIF.  Community Security Bank is the 101st FDIC-insured
institution to fail in the nation this year, and the seventh in
Minnesota.  The last FDIC-insured institution closed in the state
was Pinehurst Bank, St. Paul, on May 21, 2010.


COMPUTER SYSTEMS: Can Use Lenders' Cash Collateral Until August 31
------------------------------------------------------------------
The Hon. Randolph Baxter of the U.S. Bankruptcy Court for the
District of Ohio extended Computer Systems Company, Inc., and its
subsidiary R4, LLC's access to the cash securing repayment of
obligations with Huntington Bank, SWPelham Fund L.P. and
Development Capital Ventures, LP, and the IRS.

As of the petition date, the Debtors owed Huntington not less than
$13,700,000, which was secured by a perfected, first priority
security interest in substantially all of the Debtors' assets.
IRS also asserts that it has a perfected first priority lien on
certain of the Debtors' account receivable by virtue of filing
notices of tax lien.

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

As reported in the Troubled Company Reporter on November 25, 2009,
in exchange for using the cash collateral, the Debtors will grant,
as adequate protection, to:

     (i) Huntington Bank, the Senior Lender, monthly interest
         payments as set forth in the Budget and continuing valid,
         binding, enforceable and perfected, replacement liens and
         security interests in and on all of the post-petition
         assets of the Debtors to the same extent, amount and
         priority as the Senior Lender's liens existed pre-
         petition without the necessity of any filing of any UCC
         Financing Statement or other document.  Computer Systems
         has a senior, secured credit facility with the Senior
         Lender that, as amended, includes a revolving loan in the
         maximum amount of $13,000,000 and a term loan in the
         maximum amount of $1,500,000.

    (ii) SWPelham Fund L.P. and Development Capital Ventures, LP
         -- the Subordinated Noteholders -- and the IRS continuing
         valid, binding, enforceable and perfected, replacement
         liens and security interests in and on all of the post-
         petition assets of the Debtors to the same extent, amount
         and priority as the Subordinated Noteholder and the IRS
         liens existed pre-petition without the necessity of any
         filing of any UCC Financing Statement or other document.
         Computer Systems obtained additional loans from the
         Subordinated Noteholders in the original principal amount
         of $5,000,000 pursuant to the issuance of secured notes
         which were subordinated to the First Senior Credit
         Facility.

The Debtors' access to the cash collateral will terminate on
(i) August 31, 2010, or (ii) the occurrence of an event of
default.

Subject to the notice and cure requirements, any and all of IRS'
obligations will terminate and IRS may prosecuted its
administrative remedies, upon the Debtors' failure to (i) timely
maka adequate protection payments, (ii) timely file any
postpetition federal tax returns, or (iii) timely pay any
postpetition federal tax liabilities.

                     About Computer Systems

Strongsville, Ohio-based Computer Systems Co., also known as CSC
Group, is a provider of information management software for
health-care providers.  The Company and its subsidiary, R4, LLC,
filed for Chapter 11 bankruptcy on November 13, 2009 (Bankr. N.D.
Ohio Case No. 09-20802).  Computer Systems said that its assets
were $49.1 million and debt was $33.9 million at September 30,
2009.


CONTECH CONSTRUCTION: Bank Debt Trades at 17% Off
-------------------------------------------------
Participations in a syndicated loan under which CONTECH
Construction Products, Inc., is a borrower traded in the secondary
market at 82.60 cents-on-the-dollar during the week ended Friday,
July 23, 2010, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 2.43 percentage points from the previous week, The
Journal relates.  CONTECH pays 200 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Jan. 31,
2013, and carries Moody's B1 rating and Standard & Poor's B
rating.  The loan is one of the biggest gainers and losers among
194 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

CONTECH Construction Products, Inc. -- http://www.contech-cpi.com/
-- headquartered in West Chester, Ohio, makes, distributes, and
installs civil engineering products related to environmental storm
water, drainage, bridges, walls, and earth stabilization.  CONTECH
sells to builders of commercial, industrial, and public projects,
as well as large-scale residential communities.  Products range
from retaining walls and water-detention vaults to storm water
pipes and bridges in a variety of types for vehicular or
pedestrian use. CONTECH has dealers, distributors, or
manufacturing plants in all 50 U.S. states and a national sales
organization of more than 350 people.  Investment firm Apax
Partners owns CONTECH.

As reported by the Troubled Company Reporter on July 30, 2009,
Moody's affirmed the ratings of CONTECH Construction Products,
Inc. -- Corporate Family and Probability of Default Ratings at B2.
The outlook has been changed to negative from stable.  The
negative outlook reflects the risk that CONTECH's ability to
navigate the downturn in construction spending may be hindered by
its highly leveraged capital structure and diminished headroom
under its financial covenants.


CONTROLADORA COMERCIAL: Denied U.S. TRO on Creditor Suits
---------------------------------------------------------
Bill Rochelle at Bloomberg News reports that U.S. Bankruptcy Judge
Stuart M. Bernstein denied a request by Controladora Comercial
Mexicana SAB for a temporary restraining order on lawsuits and
creditor actions in the U.S.  The bankruptcy judge however
scheduled a hearing for July 28 where the Company again can ask
for an injunction after creditors have had more time to respond.

According to the report, Judge Bernstein also scheduled a hearing
for Aug. 19 where Controladora will ask the judge to declare that
the reorganization proceedings in Mexico meet the standards
demanded in Chapter 15.  If Judge Bernstein finds that Mexico is
properly home to the "foreign main proceeding," the creditors'
suits in the U.S. will be halted automatically.  Chapter 15
doesn't have an automatic stay like Chapters 11 or 7.

                         Prepackaged Plan

Comercial Mexicana has submitted its prepackaged US$1.54 billion
debt-restructuring agreement to a Mexican court with 98% of its
creditors on board.  The restructuring agreement, which was
announced in late May, has the support of all of its derivatives
counterparties and bank creditors, and 88% of its bond creditors.
The restructuring already has been approved by the company's
shareholders.

Under the pre-approved plan, derivative counterparties and
commercial bank creditors will exchange their current claims for a
share of a new debt, and noteholders will get a portion of new
bonds, some denominated in U.S. dollars, others in pesos.

                          About Comerci

Controladora Comercial Mexicana SAB de CV a.k.a. Comerci
(MXK:COMERCIUBC) -- http://www.comerci.com.mx/-- is third-largest
food retailer in Mexico with 231 stores and 73 Restaurantes
California restaurants as of the end of 2009.  In addition, CCM
owns a 50% interest in the Costco de Mexico, a joint venture with
Costco Wholesale Corporation, which operates a chain of membership
warehouses in Mexico.  The company's store chains include
Comercial Mexicana, City Market, Mega, Bodega CM, Sumesa and
Alprecio, among others.

Controladora Comercial Mexicana SAB filed for Chapter 15
bankruptcy in the United States on July 16, 2010 (Bankr. S.D.N.Y.
Case No. 10-13750) to aid its main restructuring in Mexico,
already approved by creditors.  CCM listed both debt and assets of
more than US$1 billion in its Chapter 15 petition.

The U.S. filing seeks to protect the company from U.S. lawsuits
and creditor claims, following a July 14 announcement that it
filed to restructure in Mexico.

Fried Frank Harris Shriver & Jacobson, based in New York, is
representing Controladora Comercial Mexicana SAB in the Chapter 15
case.


CORBIN PARK: Wants Until October 20 to File Reorganization Plan
---------------------------------------------------------------
Corbin Park, L.P., asks the U.S. Bankruptcy Court for the District
of Kansas to extend its exclusive periods to file and solicit
acceptances for the proposed Plan of Reorganization until
October 20, 2010, and December 20, respectively.

Bank of America, NA, consented to the Debtor's request for an
extension in its exclusive periods.

Omaha, Nebraska-based Corbin Park, L.P., filed for Chapter 11
bankruptcy protection on January 5, 2010 (Bankr. D. Kan. Case No.
10-20014).  Carl R. Clark, Esq., and Jeffrey A. Deines, Esq., at
Lentz Clark Deines PA, assist the Debtor in its restructuring
effort.  The Debtor listed $50,000,001 to $100,000,000 in assets
and $10,000,001 to $50,000,000 in liabilities.


CORROZI-FOUNTAINVIEW: Has Deal for Cash Use Until Sept. 1
---------------------------------------------------------
Corrozi-Fountaiview, LLC, sought and obtained authorization from
the Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware to use the cash collateral, nunc pro tunc to July 1,
2010, pursuant to the terms and conditions of a stipulation.

The Debtor is a special purpose entity that owns real estate in
Newark, Delaware.  The parcel is divided into two construction
projects.  One project involves the construction of three
condominium buildings, each containing 64 units.  The primary
secured lender on this project is PNC Bank, N.A.  The Debtor
believes that PNC's lien extends to proceeds derived from the sale
or lease of Condominium Units.  As of June 30, 2010, the Debtor
held approximately $10,000 in its debtor-in-possession account
which represents the proceeds of sales or leases of Condominium
Units.  The lion's share of this amount represents rental
proceeds.

The Debtor entered into the Stipulation with PNC to allow the
Debtor the limited use of cash collateral necessary to maintain
the Debtor's operations.  The Stipulation authorizes the use of
$16,000, unless PNC consents to a greater amount or the Court
approves it, and it expires on September 1, 2010, unless the Court
and PNC approve a temporal extension.

Under the Stipulation, the Debtor can use the cash collateral for
the purposes of paying (a) fees charged by the U.S. Trustee; (b)
premiums for insurance on the Condominium Units or the Debtor's
other assets; and (c) utility bills and rents incurred with
respect to property owned or being used by the Debtor.

The Stipulation grants PNC replacement liens in all postpetition
assets, and proceeds thereof, of the Debtor that constituted PNC's
pre-petition collateral.  The Stipulation provides that PNC is
adequately protected with respect to the Debtor's use of cash
collateral.

A copy of the Stipulation is available for free at:

  http://bankrupt.com/misc/CORROZI-FOUNTAINVIEW_stipulation.pdf

Wilmington, Delaware-based, Corrozi-Fountainview, LLC, owns a
single asset real estate.  The Company filed for Chapter 11 on
March 31, 2010 (Bankr. D. Del. Case No. 10-11090.)  Joseph Grey at
Cross & Simon LLC assists the Debtor in its restructuring effort.
The Debtor did not file its list of largest unsecured creditors
when it filed its petition.  In its petition, the Debtor listed
total assets and debts both ranging from $10,000,001 to
$50,000,000.


CRESCENT BANK: Closed; Renasant Bank Assumes Deposits
-----------------------------------------------------
Crescent Bank and Trust Company of Jasper, Ga., was closed on
July 23, 2010, by the Georgia Department of Banking & Finance,
which appointed the Federal Deposit Insurance Corporation as
receiver.  To protect the depositors, the FDIC entered into a
purchase and assumption agreement with Renasant Bank of Tupelo,
Miss., to assume all of the deposits of Crescent Bank and Trust
Company.

The 11 branches of Crescent Bank and Trust Company will reopen
under normal business hours as branches of Renasant Bank.
Depositors of Crescent Bank and Trust Company will automatically
become depositors of Renasant Bank.  Deposits will continue to be
insured by the FDIC, so there is no need for customers to change
their banking relationship in order to retain their deposit
insurance coverage.  Customers of Crescent Bank and Trust Company
should continue to use their existing branch until they receive
notice from Renasant Bank that it has completed systems changes to
allow other Renasant Bank branches to process their accounts as
well.

As of March 31, 2010, Crescent Bank and Trust Company had around
$1.01 billion in total assets and $965.7 million in total
deposits.  Renasant Bank will pay the FDIC a premium of 1.0
percent to assume all of the deposits of Crescent Bank and Trust
Company.  In addition to assuming all of the deposits of the
failed bank, Renasant Bank agreed to purchase essentially all of
the assets.

The FDIC and Renasant Bank entered into a loss-share transaction
on $617.4 million of Crescent Bank and Trust Company's assets.
Renasant 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, 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 1-800-523-8177.  Interested parties also can
visit the FDIC's website at:

    http://www.fdic.gov/bank/individual/failed/crescentga.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $242.4 million.  Compared to other alternatives, Renasant
Bank's acquisition was the least costly resolution for the FDIC's
DIF.  Crescent Bank and Trust Company is the 98th FDIC-insured
institution to fail in the nation this year, and the tenth in
Georgia.  The last FDIC-insured institution closed in the state
was First National Bank, Savannah, on June 25, 2010.


CROSSINGS AT LAKE: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: The Crossings at Lake Creek 10, LLC
        455 East 400 South #400
        Salt Lake City, UT 84111

Bankruptcy Case No.: 10-29647

Chapter 11 Petition Date: July 19, 2010

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: Joel T. Marker

Debtor's Counsel: Stephen G. Stoker, Esq.
                  Stoker Swinton & Cannon
                  311 South State Street, Suite 400
                  Salt Lake City, UT 84111
                  Tel: (801) 359-4000
                  Fax: (801) 359-4004
                  E-mail: sgstoker@ssc-law.net

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 largest unsecured creditors
together with its petition.

The petition was signed by Tracey M. Cannon, manager.


CROWN CORK: Moody's Affirms 'Ba2' Corporate Family Rating
---------------------------------------------------------
Moody's Investors Service assigned a Ba1 rating to the new senior
unsecured notes due 2018 and affirmed the Ba2 corporate family
rating of Crown Cork and Seal Company, Inc.  The rating outlook
remains stable.

The rating is in response to the company's announcement on
July 21, 2010, that it had priced EUR500 million in aggregate
principal amount of senior notes due 2018.  The senior notes will
be issued by Crown European Holdings SA, a subsidiary of the
company, and are unconditionally guaranteed by the Company and
certain of its subsidiaries.

The Company intends to use the net proceeds of the offering to
retire all or a portion of the Company's outstanding
EUR150 million first priority senior secured notes due 2011, to
retire all of the Company's outstanding $200 million senior
unsecured notes due 2013, to repay some short term debt, to pay
fees and expenses associated with the offering, and to provide
funds for general corporate purposes.

Moody's took these rating actions for Crown Americas, LLC:

* Affirmed $450 million US Revolving Credit Facility due 2015,
  Baa2 (LGD 1 -- 9% from LGD 2 - 11%)

* Upgraded $130 million US Revolving Credit Facility due 2011,
  Baa2 (LGD 1 - 9%) from Baa3 (LGD 2 - 12%)

* Affirmed $365 million US Term Loan B due 2012 ($150 million
  outstanding), Baa2 (LGD 1 - 9% from LGD 2 - 11%)

* Affirmed $500 million senior unsecured notes due 2013
  ($200 million outstanding), Ba3 (LGD 4 - 61%) (to be withdrawn
  after the transaction is completed)

* Affirmed $600 million senior unsecured notes due 2015 to Ba3
  (LGD 4 - 65% from LGD 4 -- 61%)

* Affirmed $400 million senior unsecured notes due 2017 to Ba3
  (LGD 4 - 65% from LGD 4 -- 61%)

Moody's took these rating actions for Crown, Cork and Seal
Company, Inc:

* Affirmed corporate family, Ba2

* Affirmed probability of default rating, Ba2

* Affirmed a stable ratings outlook

* Affirmed speculative grade liquidity rating, SGL-2

* Affirmed $150 million senior unsecured notes due 2096
  ($63.5 million outstanding), B1 (LGD 6 - 94% from LGD 6 - 93%)

* Affirmed $350 million senior unsecured notes due 2026, B1 (LGD 6
  - 94% from LGD 6 - 93%)

Moody's took these rating actions for Crown European Holdings S.A.

* Assigned new EUR500 million senior unsecured notes due 2018 Ba1
  (LGD 2 - 27%)

* Affirmed $700 million European revolving credit facility due
  2015, Baa2 (LGD 1 -- 9% from LGD 2 - 11%)

* Upgraded $64 million European revolving credit facility due
  2011, Baa2 (LGD 1- 9%) from Baa3 (LGD 2- 12%)

* Affirmed EUR278 million (EUR111 ($136 million) outstanding) Euro
  Term Loan B due 2012, Baa2 (LGD 1 -- 9% from LGD 2 -- 11%)

* Affirmed EUR460 million (EUR150 ($183 million) outstanding)
  6.25% First Lien Notes due 2011, Baa2 (LGD 1 -- 9% from LGD 2 --
  11%) (to be withdrawn depending upon outcome of tender)

Moody's took these rating actions for Crown Metal Packaging Canada
L.P.

* Affirmed $50 million Canadian revolving credit facility due
  2015, Baa2 (LGD 1 -- 9% from LGD 2 - 11%)

The ratings are subject to receipt and review of the final
documentation.

Crown's Ba2 corporate family rating reflects the company's
position in an oligopolistic industry, relatively stable end
markets and improved profitability.  The rating is also supported
by the high percentage of business under contract with strong raw
material cost pass-through provisions, higher margin growth
projects in emerging markets, and good liquidity.  Crown's broad
geographic exposure, including a high percentage of sales from
faster growing developing markets, is both a benefit and a source
of some potential volatility.

The rating is constrained by the company's concentration of sales,
exposure to international markets and risks inherent in its
strategy to grow in emerging markets.  The rating is also
constrained by its asbestos liability.

Moody's last rating action on Crown occurred on May 28, 2010, when
Moody's upgraded the corporate family rating to Ba2 from Ba3 and
rated Crown's new revolving credit facility due May 2015.

Headquartered in Philadelphia, Pennsylvania, Crown Cork and Seal
Company Inc. is a global manufacturers of steel and aluminum
containers for food, beverage, and consumer products.  Revenue for
the twelve months ended March 31, 2010 was approximately
$8 billion.


CROWNBUTTE WIND: To Pursue Financing for Wind Park Portfolio Dev't
------------------------------------------------------------------
Crownbutte Wind Power Inc. of Mandan, ND continues to pursue
project financing for the development of its wind park portfolio.

The management of CBWP has currently refined its approach for
financing from traditional sources of capital, the majority of
which are mandated to have "power purchase agreements" PPAs from
public utilities or contractual off-takes in place, to creating
joint ventures with suppliers, financiers and construction
companies, to create value from resources idle in the current
market place.

The strategy to utilize idle turbines in joint ventures is a
benefit for all involved.  These idle turbines and construction
equipment are the result of the policy of financial institutions
to have PPAs, or contractual off-takes, with little regard to the
necessity of the actual ability to inject the power into the grid
without substantial upgrades to the system.  Future financing
efforts will benefit when CBWP has revenues for power sold through
open access transmission tariffs (OATT).

Turbine financiers are open to the idea of placing turbines,
either repossessed or in default, on CPWP's park sites contingent
on construction financing as the next stage of development.  CBWP
management believes that with the grid interconnect agreements in
place at construction ready locations, value can be created
quickly for all concerned.

Independent wind developers like CBWP, with grid interconnect
agreements in place while retaining the RECs (Renewable Energy
Credit), will benefit the company as a Federal energy polices
develop.

The current environment in the US market place is positive for
alternative energy, and our company is dedicated to wind
generation as an independent power producer.

Although CBWP does not have contractual obligations for the
financing in place as of this writing, management is working
diligently and is optimistic.  The company will keep the investors
updated as they proceed with their talks.


DEER VALLEY: Owner Will Contribute Funds to Pay Creditors
---------------------------------------------------------
Deer Valley Medical Center, L.L.C., filed with the U.S. Bankruptcy
Court for the District of Arizona a proposed Plan of
Reorganization and an explanatory Disclosure Statement.

The Debtor will begin soliciting votes on the Plan following
approval of the adequacy of the information in the Disclosure
Statement.

According to the Disclosure Statement, the Plan provides for
Inland Mortgage Capital Corp. to retained its lien.  The Debtor
will consummate the sale of the real property by December 31,
2010.  If the sale does not occur, Inland will have stay relief to
conduct a deed of trust foreclosure sale effective the first
business day of January 2011.  Any amount unpaid will treated
under Class 4.

The amount due Aries Real Estate Fund will be treated as an
unsecured creditor under Class 4.

Unsecured creditors will be paid 10% of the claims within 2 years
from the date of the confirmation.  No interest will be paid to
unsecured creditors.

The owner of the Debtor will contribute the funds necessary to
satisfy the valid and proven claims of Class 1 and Class 4.  In
addition, the owner, Robert Key, will not receive a distribution
of his claim of $3,488,000.

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

The Debtor is represented by:

     Donald W. Powell, Esq.
     CarMichael & Powell, P.C.
     7301 North 16th Street, Suite. 103
     Phoenix, AZ 85020-5297
     Tel: (602) 861-0777

                          About Deer Valley

Phoenix, Arizona-based Deer Valley Medical Center, LLC, filed for
Chapter 11 bankruptcy protection on April 13, 2010 (Bankr. D.
Ariz. Case No. 10-10726).  Donald W. Powell, Esq., at Carmichael &
Powell, P.C., assists the Company in its restructuring effort.
The Company estimated its assets and debts at $10,000,001 to
$50,000,000.


DELTA MUTUAL: Files Amended Reports on Form 10-Q and Form 10-K
--------------------------------------------------------------
Delta Mutual Inc. filed its amended quarterly report on Form 10-Q
for the quarterly period ended March 21, 2010, and annual report
on Form 10-K for the fiscal year ended Dec. 31, 2009.  The company
filed these amended reports to change the notes to the
consolidated financial statements because due to an understatement
of numbers of shares of common stock outstanding.

A full-text copy of the Company's amended Form 10-Q is available
for free at http://ResearchArchives.com/t/s?66fc

A full-text copy of the Company's amended Form 10-K is available
for free at http://ResearchArchives.com/t/s?66fd

                        About Delta Mutual

Scottsdale, Ariz.-based Delta Mutual, Inc. (OTCBB: DLTZ)
-- http://www.deltamutual.com/-- is continuing its investment in
the energy field and is currently in the process of opening oil
wells in the Guemes area of Salta in Argentina and has partnered
with major oil and gas companies to increase its presence and
asset producing properties.

                          *     *     *

As reported in the Troubled Company Reporter on April 23, 2010,
Jewett, Schwartz, Wolfe & Associates, in Hollywood, Florida,
expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted that
the Company has an accumulated deficit of $3,580,837 and working
capital deficiency of $967,042 as of December 31, 2009, and is not
generating sufficient cash flows to meet its regular working
capital requirements.


DELTA PETROLEUM: Amends Employment Agreement with Carl Lakey
------------------------------------------------------------
Delta Petroleum Corporation entered into an Amended and Restated
Employment Agreement with Carl Lakey, who was appointed as the
Company's Chief Executive Officer on July 6, 2010.  The Amended
and Restated Employment Agreement amended the Employment Agreement
entered into between the Company and Mr. Lakey effective as of
October 1, 2009.

The initial term of Mr. Lakey's amended agreement will expire
December 31, 2010, and such term will be automatically extended
for additional one year terms thereafter unless notice of
termination is given by either party at least sixty days prior to
the end of the then-applicable term.  The base annual salary for
Mr. Lakey provided for in the amended agreement is $390,000.  Mr.
Lakey is also entitled to a bonus based on a percentage of his
base salary as determined by the Compensation Committee of the
Board of Directors upon satisfaction of performance criteria
established by the Compensation Committee.

In the event Mr. Lakey's employment is terminated other than for
"cause" or if he resigns for "good reason", then Mr. Lakey will be
entitled to receive a payment equal to two times the sum of his
annual base salary and his average annual bonus.  In the event
that Mr. Lakey's agreement is not renewed at the end of any term,
then at the time that his employment is terminated Mr. Lakey will
receive the same severance payment as stated above, reduced
proportionately by the number of months that Mr. Lakey continues
to be employed by the Company after expiration of the applicable
term.  The agreement also includes non-solicitation and non-
competition obligations on the part of Mr. Lakey that survive for
one year following the date of termination.

                      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.

The Company's balance sheet as of March 31, 2010, showed
$1.384 billion in assets, $699.3 million of liabilities, and
$684.5 million of stockholders' equity.

                          *     *     *

As reported in the Troubled Company Reporter on March 15, 2010,
KPMG LLP, in Denver, expressed substantial doubt about the
Company's ability to continue as a going concern after auditing
the Company's financial statements for the year ended December 31,
2009.  The independent auditors noted that of the Company's
ongoing losses and working capital deficiency, and that in
addition, outstanding borrowings under the Company's credit
facility are due January 15, 2011.

In its Form 10-Q for the three months ended March 31, 2010, the
Company said that it does not currently have the capital on hand
necessary to repay its credit facility borrowings due on
January 15, 2011, or develop its properties at the pace desired
based on current commodity prices.

In July 2010, Standard & Poor's Ratings Services revised its
outlook on Delta Petroleum Corp. to negative from developing.  At
the same time, S&P affirmed its ratings on the company, including
the 'CCC' corporate credit rating.


DENNY'S CORP: Nelson Marchioli Balks at Removal as Director
-----------------------------------------------------------
Nelson J. Marchioli disagreed with the statements made by Denny's
Corporation regarding his removal from the board of directors.
He said that the board's action in removing him as a director was
in violation of applicable law.

                     About Denny's Corporation

Based in Spartanburg, South Carolina, Denny's Corporation (NASDAQ:
DENN) -- http://www.dennys.com/-- is one of America's largest
full-service family restaurant chains, consisting of 1,322
franchised and licensed units and 237 company-owned units, with
operations in the United States, Canada, Costa Rica, Guam, Mexico,
New Zealand and Puerto Rico.

According to the Troubled Company Reporter on June 14, 2010,
Moody's Investors Service stated that the B2 Corporate Family and
Probability of Default ratings and the Stable rating outlook for
Denny's Holdings, Inc., will not immediately be affected by the
departure of Nelson Marchioli as Chief Executive Officer.


DOYLE FAMILY: Plan Outline Hearing Scheduled for August 31
----------------------------------------------------------
The Hon. Erithe A. Smith of the U.S. Bankruptcy Court for the
Central District of California will consider on August 31, 2010,
at 10:30 a.m., the approval of a Disclosure Statement explaining
Doyle Family LLC's proposed Chapter 11 Plan.  The hearing will be
held at Courtroom 5A, 411 W Fourth St., Santa Ana, California.

The Debtor will begin soliciting votes on the Plan following
approval of the adequacy of the information in the Disclosure
Statement.

According to the Disclosure Statement, the Plan will be funded by
the sale of the properties; or, alternatively, further development
of the undeveloped property and then sale of the property; and
leasing of the developed properties to generate cash flow

Under the Plan, all secured claims (Bank of the West, Marshal
Gumbiner, George W. Ellis, Steven J. Demarco, Ann Sabahat, Cory L.
Walsh, Barbara A. Walsh, Ali Saleh, Eugeen Hamood, Steven J.
Demarco, Chase Bank, and Treasurer County of Orange) will be paid
in full at the time of the sale.

General unsecured claims ($25,200) will be paid the total amount
of its claims.

Interest holders will be paid only after all creditors have been
paid.

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

The Debtor is represented by:

     Tracy Ettinghoff, Esq.
     Law Office of Tracy Ettinghoff
     300 11 Ivy Glenn, Suite 121
     Laguna Niguel, CA 92677
     Tel: (949) 363-5573

                      About Doyle Family LLC

Headquartered in Rancho Santa Margarita, Doyle Family LLC, filed
for Chapter 11 on January 27, 2010 (Bankr. C.D. Calif. Case No.
10-10967).  In its petition, the Debtor listed assets ranging from
$10,000,001 to $50,000,000 and liabilities ranging from $1,000,001
to $10,000,000.


DUBAI WORLD: "Informational Session" with Creditors Held July 22
----------------------------------------------------------------
Agence France-Presse reports that Dubai World said after meeting
creditors on Thursday that it will complete restructuring its
remaining debts "over the coming months."  Dubai World met with
creditor banks "to present formally the proposed restructuring
plan for Dubai World, which has been agreed between the company
and its coordinating committee of creditor banks (CoCom) with the
support of the government of Dubai."

According to AFP, Dubai World described Thursday's meeting as an
"informational session" that gives creditors "the opportunity to
review the information provided before responding to the
proposal."

On July 11, an official told AFP that CoCom, which includes seven
banks representing 60% of the group's debts, "has already approved
the deal and agreed terms with the company."

                       Restructuring Deal

As widely reported, Dubai World reached a broad agreement to pay
off its creditors and reduce its $23.5 billion of debt.  Dubai
World will divide $14.4 billion of debt into two tranches:

     -- The first tranche, of $4.4 billion, will be paid in five
        and bear 1.0% interest payable in cash, but with no
        government shortfall guarantees.

     -- The second trache, of $10 billion, will be paid over eight
        years, with 1.0% interest plus varying payment-in-kind
        interest and shortfall guarantees.

Lenders will have to choose between three options, depending on
their exposure and on their priorities in regard to the shortfall
guarantee and payment in kind.

The government of Dubai will convert $8.9 billion of debt and
claims into equity in Nakheel, the real-estate arm of Dubai World,
and commit to fund as much as $500 million of Nakheel's expenses
and an interest facility of as much as $1 billion while
maintaining 100% ownership of the Company.

As part of the deal, Nakheel's trade creditors were offered
repayment through a mix of 40% cash and 60% in a sukuk-a bond
structured to comply with Islamic law-with a 10% annual return.
Nakheel paid a $980 million Islamic bond.

According to The Wall Street Journal, the agreement with the
creditors' coordinating committee accounts for about 60% of Dubai
World's bank lenders.  The remaining creditors holding 40% of the
group's debt have yet to accept the deal.

                     6-Month Standstill

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

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

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

                     About Dubai World

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


ENTRAVISION COMMS: Bank Debt Trades at 0.93% Off
------------------------------------------------
Participations in a syndicated loan under which Entravision
Communications Corp. is a borrower traded in the secondary market
at 99.07 cents-on-the-dollar during the week ended Friday,
July 23, 2010, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 0.51 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 March 29,
2013, and carries Moody's B1 rating and Standard & Poor's B
rating.  The loan is one of the biggest gainers and losers among
194 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 July 21, 2010,
Standard & Poor's revised its rating outlook on Santa Monica,
Calif.-based Spanish-language media company Entravision
Communications Corp. to positive from stable.  All ratings on the
company, including the 'B' corporate credit rating, were affirmed.
At the same time, S&P assigned the company's proposed $385 million
senior secured first-lien notes due 2017 its issue-level rating of
'B' (at the same level as the 'B' corporate credit rating).  S&P
also assigned this debt a recovery rating of '3', indicating S&P's
expectation of meaningful (50%-70%) recovery for noteholders in
the event of a payment default.

The TCR also reported on July 21, 2010, that Moody's affirmed the
B1 Corporate Family Rating for Entravision Communications Corp.
and assigned a B1 (LGD4-51%) rating to its proposed $385 million
issuance of senior secured bonds.  The company will use proceeds
primarily to repay its existing first lien term loan
(approximately $359 million outstanding) and fund the termination
of unprofitable swaps and transaction fees.

Entravision Communications Corp., headquartered in Santa Monica,
CA, is a diversified Spanish-language media company with
television and radio operations.  Entravision owns and/or operates
51 primary television stations and is the largest affiliate group
of both the Univision television network and Univision's
TeleFutura network.  The company also owns and operates a group of
primarily Spanish language radio stations, consisting of 48 owned
and operated stations in 19 U.S. markets.  Entravision's LTM
6/30/09 revenue of $204 million was split approximately 64%
television and 36% radio.


EVERGREEN TRANSPORTATION: Gets OK to Sell Assets to ET LLC
----------------------------------------------------------
Evergreen Transportation, Inc., its wholly owned subsidiary,
Evergreen Solid Waste, Inc. (ESW), and Evergreen Transport, LLC
(ET, LLC) sought and obtained authorization from the Hon. Margaret
A. Mahoney of the U.S. Bankruptcy Court for the Southern District
of Alabama to sell certain assets to ET, LLC.

The Debtors entered into an asset purchase agreement with ET, LLC,
on December 22, 2009.  The agreement was approved by the Court on
December 23, 2009, as amended December 29, 2009.

The sale pursuant to the APA was closed by the parties on
January 14, 2010.  The APA provided that as a condition to the
obligations of the Debtor that ESW will have received $200,000 for
the assignment of a lease and leasehold interests at its station
at Grove Hill, Alabama.

At the time of the closing on January 14, 2010, ESW and the
prospective assignee of the Grove Hill Lease had not consummated
said Assignment.

To insure the closing of the APA on January 14, 2010, ET, LLC,
advanced $200,000 of the APA and took from ESW the Assignment of
proceeds.

ESW and BFI Waste Services, LLC, have entered into an Agreement
for the Assignment and Assumption of Transfer Station Lease (AATL)
subject to the approval of the Court.  The AATL provides for the
assignment originally contemplated by the APA.  The subject
Assignment will be made to BFI free and clear of all liens,
claims, interests, and encumbrances, including but not limited to,
environmental and product liability claims.

Pursuant to the terms of the AATL, BFI will not acquire or assume
any of ESW's liabilities or any other person's or entity's
liabilities except as expressly provided in the AATL.

The Debtor submits that BFI is buying the Grove Hill Lease in good
faith.  BFI is not acquiring or assuming any of the Debtor's or
any other person's or entity's liabilities, except as expressly
provided in the AATL, and in no event will BFI have any liability
or responsibility for any liability excluded under the AATL,
including any unrecorded liability of Debtor.

BFI will not have any successor or transferee liability for
liabilities of Debtor, whether under federal or state law or
otherwise, as a result of the assignment of the Grove Hill
Lease will be exempt from any so-called "bulk sale" laws in all
applicable jurisdictions, except as otherwise provided in the
AATL.

Evergreen, Alabama-based Evergreen Transportation, Inc., operates
a freight and logistics business.  The Company filed for Chapter
11 on August 4, 2009 (Bankr. S.D. Ala. Case No. 09-13525).
Silver, Voit & Thompson, Attorneys at Law, P.C. represents the
Debtor in its restructuring efforts.  Ross Consulting Services,
LLC, and Carriage Hill Partners, Ltd., have been tapped as
financial advisors.  In its petition, the Debtor listed
$10,000,001 to $50,000,000 in assets and $1,000,001 to
$10,000,000.


EXTENDED STAY: Court Approves Intercompany Settlement
-----------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
approved an intercompany settlement agreement among Extended Stay
Inc., its debtor affiliates, CWCapital Asset Management LLC and
Manufacturers and Traders Trust Company.

In a July 20 order, Judge James Peck held that the winding down of
Extended Stay's estate will be through a liquidating plan or
another arrangement agreed to by the company, CWCapital and the
Official Committee of Unsecured Creditors.

The Court also ruled that the terms of any order entered in
connection with the wind-down should be consistent with the terms
of the Intercompany Settlement Agreement and the Litigation Trust
Agreement under the Extended Stay affiliates' Chapter 11 Plan.

Extended Stay is authorized to assume and assign to the new
reorganized company or its designee the G&A Expense Reimbursement
Agreement and the Services Agreement the company inked with HVM
LLC and Homestead Village Management LLC.

The Intercompany Settlement Agreement was hammered out to settle
various intercompany issues, including causes of action by and
funding for Extended Stay's estate, and claims on the assets to
be transferred to the sponsors of the restructuring plan or the
new reorganized company.  Under the deal, Extended Stay agreed to
release the sponsors of the restructuring plan and other parties
from all claims relating to it or its affiliated debtors, among
other things.

Prior to the entry of the Court's ruling, Extended Stay revised
the terms of the Intercompany Settlement Agreement.  Among the
revised terms is the provision for the automatic transfer to the
litigation trust of Extended Stay's right, title and interest in
and to the company's causes of action on the effective date of the
Debtor Affiliates' Fifth Amended Chapter 11 Plan of
Reorganization.

Another revised term provides for the payment to M&T of
$4 million from the proceeds of the sale of Extended Stay's chain
of hotels to the Centerbridge-led investment group, indirectly
through a "gift" from CWCapital.  After the payment, M&T will
have a claim against Extended Stay in the sum of $5.5 million.
M&T will be a beneficiary of the litigation trust and its claim
will receive further distributions based on the proceeds
waterfall stated in the Litigation Trust Agreement.  In return
for the payment, M&T agreed to withdraw its objection to the
Plan; and not to transfer its claim and seek allowance of any
other or additional claims.

Revisions made to the Settlement Agreement are reflected in the
July 20 court order confirming the Plan of Extended Stay's debtor
affiliates.

A full-text copy of the revised Intercompany Settlement Agreement
is available for free at:

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

                        About Extended Stay

Extended Stay is the largest owner and operator of mid-price
extended stay hotels in the United States, holding one of the most
geographically diverse portfolios in the lodging sector with
properties located across 44 states (including 11 hotels located
in New York) and two provinces in Canada.  As a result of
acquisitions and mergers, Extended Stay's portfolio has expanded
to encompass over 680 properties, consisting of hotels directly
owned or leased by Extended Stay or one of its affiliates.
Extended Stay currently operates five hotel brands: (i) Crossland
Economy Studios, (ii) Extended Stay America, (iii) Extended Stay
Deluxe, (iv) Homestead Studio Suites, and (v) StudioPLUS Deluxe
Studios.

Extended Stay Inc. and its affiliates filed for Chapter 11 on
June 15, 2009 (Bankr. S.D.N.Y. Case No. 09-13764).  Judge James M.
Peck handles the case.  Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, in New York, represents the Debtors.  Lazard Freres
& Co. LLC is the Debtors' financial advisors.  Kurtzman Carson
Consultants LLC is the claims agent. Extended Stay had assets of
$7.1 billion and debts of $7.6 billion as of the end of 2008.

Bankruptcy Creditors' Service, Inc., publishes Extended Stay
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Extended Stay Inc. and
its various affiliates. (http://bankrupt.com/newsstand/or
215/945-7000).


EXTENDED STAY: Court Confirms Plan to Sell to Centerbridge
----------------------------------------------------------
Extended Stay Inc. obtained an order from the U.S. Bankruptcy
Court for the Southern District of New York confirming the
proposed restructuring plan of its debtor affiliates, which
provides for the sale of the company's chain of hotels to an
investment consortium led by Centerbridge Partners LP.

"I am personally delighted that the parties in interest in this
bankruptcy case have managed to craft so workable a plan,"
Bankruptcy Judge James Peck reportedly said in confirming the
Fifth Amended Chapter 11 Plan of Reorganization for Extended
Stay's 74 affiliated debtors.

"I commend the creativity, diligence and skill of the
professionals that brought about this commendable result," Judge
Peck said.

A full-text copy of the ESI affiliates' Confirmation Order dated
July 20, 2010, is available without charge at:

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

The confirmation comes a year after Extended Stay filed for
bankruptcy, after a bidding war ensued between the Centerbridge
group and another investment group led by Starwood Capital for
the acquisition of Extended Stay's hotels.  The Centerbridge
group emerged as the winning bidder at a May 27 auction, beating
out the rival bidder's offer by less than $40 million.

The Plan calls for the Centerbridge group to pay $3.925 billion
for the ownership of Extended Stay's hotels and to contribute
certificates representing interests in a $4.1 billion mortgage
debt for the equity of Extended Stay's affiliated debtors.
Proceeds from the sale will be used to pay down the pre-
bankruptcy mortgage debt of the Debtors.

The Plan received overwhelming support from creditors based on
the voting results released earlier by Kurtzman Carson
Consultants LLC.  Results showed that 100% of creditors in Class
2, Class 4A, Class 5 and Class 3 voted in favor of the Plan.
Extended Stay also received majority votes in favor of the Plan
from Class 4B.

"As a result of arduous efforts on the part of debtors,
investors, the creditors committee (and other parties), we stand
before you with an accepted plan, having resolved virtually every
objection that has been filed," Reuters quoted Extended Stay's
attorney, Jacqueline Marcus, Esq., as saying.

Ms. Marcus of New York-based Weil Gotshal & Manges LLP said
Extended Stay expects "emergence in early to mid September,"
according to Reuters.

Prior to the confirmation, Extended Stay revised some terms of
the Plan to resolve the objections raised by some groups.  Among
the revised terms is a clarification that Section 10.10 and 10.12
of the Plan does not provide for the release of claims resulting
from gross negligence, willful misconduct and breach of fiduciary
duty.

Ms. Marcus said terms of the litigation trust were also amended
to satisfy the comments of certain creditors, including a crucial
"waterfall provision."  Under the older version of the Plan,
beneficiaries would have been paid as determined by the court but
now the Plan is more specific, according to a report by Dow Jones
Daily Bankruptcy Review.

The revised term of the litigation trust also provides that
claims and causes of actions will be deemed retained by Extended
Stay's affiliated debtors, and the litigation trustee will be
deemed designated as the affiliates' representative if the claims
and causes of actions cannot be transferred to the trust because
of a restriction on transferability under non-bankruptcy laws.

Tracy Hope Davis, U.S. Trustee for Region 2, previously opposed
the confirmation of the Plan, arguing that unsecured creditors
would receive less under the Plan than if the bankruptcy cases
were converted into liquidation proceedings.  Those and other
concerns had already been resolved, according to the Reuters
report, citing an attorney who represents the U.S. Trustee.

The Official Committee of Unsecured Creditors also opposed the
Plan confirmation, but eventually dropped its objection.

The Creditors Committee, which is owed $3 billion, will get a
stake in a litigation trust contemplated under the Plan.
Unsecured creditors with claims of $450,000 or less also expect
an 80% recovery, Dow Jones reported.

A lawyer representing indentured trustee Manufacturers and
Traders Trust Company said his client had withdrawn its objection
to the plan, according to Dow Jones.

M&T earlier joined in an intercompany settlement deal that
Extended Stay hammered out with its debtor affiliates and
CWCapital Asset Management LLC.  The deal has been approved by
the Bankruptcy Court.

A full-text copy of the Revised Plan is available without charge
at http://bankrupt.com/misc/ESI_RevisedFifthAmendedPlan.pdf

         Statutory Requirements for Plan Confirmation

Extended Stay stepped Judge Peck through the statutory
requirements of Sections 1129(a) and (b) of the Bankruptcy Code,
necessary to confirm the Plan:

A. Section 1129(a)(1) requires that a plan comply with all
   applicable provisions of the Bankruptcy Code, which include
   compliance with Sections 1122 and 1123, governing
   classification and contents of the Plan.

   The Plan meets those requirements because it provides for the
   separate classification of claims against and equity interests
   in Extended Stay's affiliated debtors based upon differences
   in the legal nature or priority of those claims and equity
   interests.

B. The Plan complies with the applicable provisions of the
   Bankruptcy Code, including Sections 1125 and 1126 as well
   as the order approving the disclosure statement.  Accordingly,
   the requirements of Section 1129(a)(2) are satisfied.

C. Section 1129(a)(3) requires that a plan be proposed in good
   faith and not by any means forbidden by law.

   Extended Stay's affiliated debtors have met their good faith
   obligation under the Bankruptcy Code.  The Plan, including all
   documents necessary to effectuate it, is the result of
   extensive arms-length negotiations, promotes the objectives
   and purposes of the Bankruptcy Code and provides for a
   recovery to creditors.

D. The Plan provides that the allowed amount of all
   administrative expense claims will be paid in full in cash,
   and that the Court will retain jurisdiction to hear and
   determine all fee applications of professionals.  Accordingly,
   the Plan complies with the requirements of Section 1129(a)(4).

E. Prior to the confirmation hearing, the sponsors disclosed in
   the plan supplement the identity and affiliations of any
   individuals who will serve as members of the Board of Managers
   of the new company.  Accordingly, the Plan satisfies the
   requirement of Section 1129(a)(5).

F. Section 1129(a)(6) is not applicable to the Chapter 11
   cases as Extended Stay's affiliated debtors are not subject to
   any regulation over the rates they charge and will not be
   subject to any regulation after confirmation of the Plan.

G. Section 1129(a)(7) requires that a plan be in the best
   interests of creditors and equity holders.

   The best interests test is satisfied as to each holder of a
   claim in an unimpaired class of claims, which includes Classes
   1, 16 and 7 through 14, as they are unimpaired and, therefore,
   are deemed to have accepted the Plan.  The best interests test
   is also satisfied as to each holder of a claim in Classes 2,
   3, 4A, 4B and 5 because each holder in such class has either,
   voted to accept the Plan, or will receive at least as much as
   it would receive in a liquidation under chapter 7.  The test
   is satisfied with regard to Classes 6 and 15 because there is
   no recovery available to these classes in liquidation.

H. Section 1129(a)(8) requires that each class of claims or
   interests either accept the plan or not be impaired by the
   plan.

   Holders of claims in Classes 1, 16 and 7 through 14 are
   unimpaired under the Plan and are presumed to have accepted
   the Plan.  Classes 2, 3, 4A, 4B and 5, each of which is an
   impaired class of claims eligible to vote, have affirmatively
   voted to accept the Plan.  Thus, Section 1129(a)(8) is
   satisfied with respect to those classes.  Meanwhile, holders
   of existing equity (Class 6) and other existing equity
   interests (Class 15) are deemed to reject the Plan.
   Nonetheless, the Plan may be confirmed under the "cram down"
   provisions of Section 1129(b).

I. The Plan provides for payment of administrative expense
   claims, priority non-tax claims and priority tax claims, and
   provides for several alternative types of treatment, which
   protect the holders of secured tax claims.  Accordingly, the
   Plan satisfies Section 1129(a)(9).

J. The Plan satisfies the requirement of Section 1129(a)(10)
   since impaired Classes 2, 3, 4A, 4B and 5 have affirmatively
   accepted the Plan, excluding the acceptance by insiders in
   those classes.

K. The Plan is not likely to be followed by the liquidation or
   the need for further financial restructuring of the Debtors
   and thus, complies with the feasibility standard of Section
   1129(a)(11).

L. In accordance with Section 1129(a)(12), the Plan provides that
   all fees payable, as determined by the Court at the
   confirmation hearing, will be paid by Extended Stay's
   affiliated debtors on or before the effective date of the
   Plan.

M. Section 1129(a)(13) requires a plan to provide for retiree
   benefits at levels established pursuant to Section 1114 of the
   Bankruptcy Code.  Inasmuch as Extended Stay's affiliated
   debtors are not liable for any retiree benefits, Section
   1129(a)(13) is inapplicable to the Plan.

N. Section 1129(a)(14) of the Bankruptcy Code relates to the
   payment of domestic support obligations and therefore, is
   inapplicable to Extended Stay's affiliated debtors.

O. With respect to the requirement of Sections 1129(a)(15) and
   (16), Extended Stay's debtor affiliates are not individuals
   and are not non-profit corporations and therefore, those
   provisions do not apply.

In accordance with the Plan, Extended Stay filed with the
Bankruptcy Court a list of the members of the new restructured
company's Board of Managers.  They are:

  * Doug Geoga of Salt Creek Hospitality, LLC
  * William D. Rahm of Centerbridge Partners, L.P.
  * Michael Barr of Paulson & Co. Inc.
  * A.J. Agarwal of Blackstone Real Estate Partners VI L.P.

Capstone Advisory Group LLC is appointed as the Plan
Administrator.

Extended Stay also submitted to the Court a document detailing
certain restructuring transactions and changes made under those
transactions, a copy of which is available for free at:

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

                   Plan Objections Addressed

The Confirmation Order also tackled plan objections that related
to these matters:

  * To the extent a Tax Objector has a first priority statutory
    liens on the Debtors' property relating to ad valorem taxes,
    the Court holds that each such Tax Objector will retain its
    lien until the applicable taxes due and payable are paid in
    full.

  * With respect to all property taxes, real estate taxes, ad
    valorem taxes and similar taxes that relate to the period
    before the Plan Effective Date, 50% of those taxes will be
    the obligation of the Debtors and 50% will be the obligation
    of the Reorganized Debtors.

  * With respect to the objection filed by Five Mile Capital II
    SPE ESH LLC, the Court clarifies that the release provided
    under Article X of the Plan will not apply to Five Mile with
    respect to the action Five Mile commenced in New York State
    Court on June 22, 2009.  However, upon receipt of payment in
    full of the class "F" Mortgage Certificates beneficially
    owned by Five Mile in the amount of $77,326,920, the release
    under the Plan will apply to Five Mile and the Five Mile
    Action.

All other Plan objections not otherwise resolved, settled or
withdrawn as of the Confirmation Hearing are overruled, the Court
held.

                        About Extended Stay

Extended Stay is the largest owner and operator of mid-price
extended stay hotels in the United States, holding one of the most
geographically diverse portfolios in the lodging sector with
properties located across 44 states (including 11 hotels located
in New York) and two provinces in Canada.  As a result of
acquisitions and mergers, Extended Stay's portfolio has expanded
to encompass over 680 properties, consisting of hotels directly
owned or leased by Extended Stay or one of its affiliates.
Extended Stay currently operates five hotel brands: (i) Crossland
Economy Studios, (ii) Extended Stay America, (iii) Extended Stay
Deluxe, (iv) Homestead Studio Suites, and (v) StudioPLUS Deluxe
Studios.

Extended Stay Inc. and its affiliates filed for Chapter 11 on
June 15, 2009 (Bankr. S.D.N.Y. Case No. 09-13764).  Judge James M.
Peck handles the case.  Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, in New York, represents the Debtors.  Lazard Freres
& Co. LLC is the Debtors' financial advisors.  Kurtzman Carson
Consultants LLC is the claims agent. Extended Stay had assets of
$7.1 billion and debts of $7.6 billion as of the end of 2008.

Bankruptcy Creditors' Service, Inc., publishes Extended Stay
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Extended Stay Inc. and
its various affiliates. (http://bankrupt.com/newsstand/or
215/945-7000).


EXTENDED STAY: Lease Decision Period Extended to November 30
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
gave the Debtors until November 30, 2010, to decide on whether to
assume or reject their unexpired nonresidential real property
leases.

                        About Extended Stay

Extended Stay is the largest owner and operator of mid-price
extended stay hotels in the United States, holding one of the most
geographically diverse portfolios in the lodging sector with
properties located across 44 states (including 11 hotels located
in New York) and two provinces in Canada.  As a result of
acquisitions and mergers, Extended Stay's portfolio has expanded
to encompass over 680 properties, consisting of hotels directly
owned or leased by Extended Stay or one of its affiliates.
Extended Stay currently operates five hotel brands: (i) Crossland
Economy Studios, (ii) Extended Stay America, (iii) Extended Stay
Deluxe, (iv) Homestead Studio Suites, and (v) StudioPLUS Deluxe
Studios.

Extended Stay Inc. and its affiliates filed for Chapter 11 on
June 15, 2009 (Bankr. S.D.N.Y. Case No. 09-13764).  Judge James M.
Peck handles the case.  Marcia L. Goldstein, Esq., at Weil Gotshal
& Manges LLP, in New York, represents the Debtors.  Lazard Freres
& Co. LLC is the Debtors' financial advisors.  Kurtzman Carson
Consultants LLC is the claims agent. Extended Stay had assets of
$7.1 billion and debts of $7.6 billion as of the end of 2008.

Bankruptcy Creditors' Service, Inc., publishes Extended Stay
Bankruptcy News.  The newsletter provides gavel-to-gavel coverage
of the Chapter 11 proceedings undertaken by Extended Stay Inc. and
its various affiliates. (http://bankrupt.com/newsstand/or
215/945-7000).


FEY 240: Hearing on Plan Outline Continued Until August 11
----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has continued until August 11, 2010, at 10:30 a.m., the hearing to
consider approval of the Disclosure Statement explaining Fey 240
North Brand LLC's proposed Plan of Reorganization, amended as of
July 2010.  The hearing will be held at 255 E. Temple St.
Courtroom 1375 Los Angeles, California.

As reported in the Troubled Company Reporter on April 8, 2010,
according to the Disclosure Statement, the Plan provides for the
completion of the tenant improvements.  The Debtor proposes to pay
creditors from the rental income, sale or refinancing proceeds of
the property.  Most likely, under the Plan, holders undisputed
claims can expect payment of their claims.  The Debtor is
targeting a July 1, 2010 effective date for the Plan.

A full-text copy of the amended Disclosure Statement is available
for free at http://bankrupt.com/misc/FEY240_2ndAmendedDS.pdf

                     About Fey 240 North Brand

Pasadena, California-based Fey 240 North Brand LLC, filed for
Chapter 11 on December 4, 2009 (Bankr. C.D. Calif. Case No. 09-
44228).  John P. Schock, Esq. at Schock & Schock, alc assists the
Debtor in its restructuring effort.  In its petition, the Debtor
listed assets and debts both ranging from $10,000,001 to
$50,000,000.


FIRSTLIGHT POWER: Moody's Affirms 'B1' Rating on 1st Lien Loans
---------------------------------------------------------------
Moody's Investors Service affirmed Firstlight Power's B1 and B3
rating on its 1st lien and 2nd lien credit facilities and also
affirmed Firstlight Hydro's Ba3 rating on senior secured bonds.
The rating outlook continues to be negative.

The rating affirmation reflects the ongoing support of Firstlight
Power's owner, GDF Suez North America, totaling $120 million of
equity injections through the end of March 2010.  GDF NA is a
subsidiary of French energy company GDF Suez SA (senior unsecured:
Aa3-negative outlook).  Additionally, FLP benefits from continued
integration with GDF NA's subsidiaries.  For example, FLP's
hedging activities are now conducted through GDF Suez Energy
Marketing NA, GDF NA's marketing operations, that reduces
collateral and liquidity requirements at FLP.  Given the
demonstrated support to date, Moody's expects GDF NA to continue
to support FLP though Moody's does not view such support as being
unlimited and some uncertainty remains.

That said, the negative outlook reflects the recent extended
outage at the Northfield Mountain facility.  The scheduled outage
was initially expected to be completed by late May, however,
during the scheduled outage, FLP discovered a significant quantity
of silt had migrated to the intake channel and into the pressure
shaft intake structure.  The silt is in the process of being
removed and Northfield Mountain is expected to be operational in
August.  The $20 million incremental cost of the extended outage
is expected to be covered by GDF NA.

The negative outlook also incorporates FLP's low consolidated
credit metrics with consolidated debt service coverage ratio of
1.06 times and FFO/Debt of 7.7% in 2009 according to Moody's
calculations.  According to FLP's 2010 budget, consolidated DSCR
are expected to drop moderately below 1.0 times and FFO/Debt is
likely to be around 5% which is well below the original base case
forecast of 14% FFO/Debt and 1.9 times DSCR for 2010.  The key
drivers of the low metrics are lower merchant cash flows and
higher capital expenditures.  FLP's weaker than expected
performance has also resulted in potential leverage ratio covenant
violations which were cured or avoided by equity contributions by
GDF NA.  Moody's expects FLP's metrics through loan maturity will
be well below original base case forecasts and roughly
commensurate with the 2010 budget.

Lastly, the negative outlook considers the recent announcement by
GDF SUEZ SA that it is in preliminary discussions with
International Power regarding a possible combination of
International Power and GDF SUEZ Energy International Business
Areas (outside Europe) and certain assets in the UK and Turkey
(GDF SUEZ Energy International).  The potential transaction adds
some uncertainty that sponsor support will continue since limited
information exists at this time regarding this transaction.

The negative outlook could be resolved once Northfield Mountain
returns to full operation, FLP executes new long term contracts,
permanently resolves the potential for future covenant violations
and improves its consolidated credit metrics.  Additionally, the
negative outlook could be resolved once there is greater clarity
regarding the potential IP/GDF transaction.

The rating is likely to move down if FLP's standalone consolidated
credit profile declines further, if the projects incur additional
operational problems, if credit metrics weaken substantially or if
covenants are violated.  The ratings could drop multiple notches
if GDF NA reduces or eliminates its support.

FirstLight Power Resources, Inc., owns and operates 1,442 MW of
merchant based electric generating facilities located in
Connecticut and Massachusetts.  FLP's wholly-owned subsidiary
FirstLight Hydro Generating Company, owns 1,296 MW (out of FLP's
1,442 MW) of predominately hydroelectric generating facilities
including two pumped storage hydro units, eleven conventional and
run-of-river hydro units, and one internal combustion peaking
facility.  FLP's portfolio also includes a 146 MW coal-fired
generating station (Mt. Tom) held in a separate subsidiary.  FLP
is indirectly owned by GDF Suez North America, a subsidiary of
French energy company GDF Suez SA.

The last rating action on FLP and FLH occurred on May 29, 2009,
when the rating outlook was changed to negative from stable.


FKF 3, LLC: Involuntary Chapter 11 Case Summary
-----------------------------------------------
Alleged Debtor: FKF 3, LLC
                c/o Day Seckler LLP
                300 Westage Center Drive, Suite 160
                Fishkill, NY 12524
                Tel: (845) 765-0705

Bankruptcy Case No.: 10-37170

Involuntary Chapter 11 Petition Date: July 19, 2010

Court: U.S. Bankruptcy Court
       Southern District of New York (Poughkeepsie)

Judge: Cecelia G. Morris

Debtor's Counsel: Pro Se

Petitioners' Counsel: Henry N Christensen, Jr., Esq.
                      Norton & Christensen
                      60 Erie Street, P.O. Box 308
                      Goshen, NY 10924
                      Tel: (845) 294-7949
                      Fax: (845) 294-7791
                      E-mail: hncnc@frontiernet.net

Creditors who signed the Chapter 11 petition:

    Petitioners                    Nature of Claim    Claim Amount
    -----------                    ---------------    ------------
URI Sasson                         Promissory Note      $3,980,000
15 Manor Court
New City, NY 10956

Kathryn Bareket                    Promissory Note      $1,505,000
Rose Hill Road
Suffern, NY 10901

Angela Badami                      Promissory Note        $525,000
1 Main Street, Apartment 3302
Nyack, NY 10960
Failed Banks from July 23, 2010


FLEXTRONICS INTERNATIONAL: Bank Debt Trades at 4% Off
-----------------------------------------------------
Participations in a syndicated loan under which Flextronics
International Ltd. is a borrower traded in the secondary market at
95.50 cents-on-the-dollar during the week ended Friday, July 23,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 0.45 percentage points from the previous week, The Journal
relates.  The Company pays 225 basis points above LIBOR to borrow
under the facility.  The debt matures on Oct. 1, 2012.  Moody's
has withdrawn its rating on the bank debt while it carries
Standard & Poor's BB+ rating.  The loan is one of the biggest
gainers and losers among 194 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 July 2, 2010,
Fitch Ratings upgraded Flextronics International Ltd.'s Issuer
Default Rating to 'BBB-' from 'BB+'; senior unsecured credit
facility to 'BBB-' from 'BB+'; and senior subordinated notes to
'BBB-' from 'BB+'.  The Rating Outlook is Stable.

Liquidity as of March 31, 2010, was solid with $1.9 billion in
cash and a fully available $2 billion senior unsecured revolving
credit facility which expires in May 2012.  Additionally, Fitch
expects Flextronics to produce strong free cash flow, even in the
current environment with minimal working capital requirements and
reduced capital spending plans.  Fitch estimates that Flextronics
has produced average annual free cash flow in excess of $500
million each of the past three years.  Flextronics utilizes an
accounts receivable securitization facility as well as accounts
receivable sales agreements for additional liquidity purposes.

Total debt as of March 31, 2010, was $2.3 billion and consisted
primarily of $1.7 billion outstanding under a senior unsecured
term loan facility, of which around $500 million is due in October
2012 with the remainder due in October 2014; $240 million in 1%
convertible subordinated notes due August 2010; and $300 million
in 6.25% senior subordinated notes due November 2014.  Flextronics
also has around $417 million outstanding under its accounts
receivable securitization facilities and $164 million outstanding
under various accounts receivable sales agreements.

Headquartered in Singapore, Flextronics International Ltd.
(NasdaqGS: FLEX; Singapore Reg. No. 199002645H) --
http://www.flextronics.com/-- is an Electronics Manufacturing
Services provider focused on delivering design, engineering and
manufacturing services to automotive, computing, consumer digital,
industrial, infrastructure, medical and mobile OEMs.  Flextronics
helps customers design, build, ship, and service electronics
products through a network of facilities in over 30 countries on
four continents.


FREESCALE SEMICON: Bank Debt Trades at 10% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which Freescale
Semiconductor, Inc., is a borrower traded in the secondary market
at 90.28 cents-on-the-dollar during the week ended Friday,
July 23, 2010, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  This represents an
increase of 1.28 percentage points from the previous week, The
Journal relates.  The Company pays 425 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Feb. 16,
2016, and carries Moody's B2 rating and Standard & Poor's B-
rating.  The loan is one of the biggest gainers and losers among
194 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

Freescale Semiconductor, Inc. -- http://www.freescale.com/-- once
Motorola's Semiconductor Products Sector, is one of the oldest and
most diverse makers of microchips in the world.  It produces many
different kinds of chips for use in automobiles, computers,
industrial equipment, wireless communications and networking
equipment, and other applications. The company's global client
roster includes such blue-chip companies as Alcatel-Lucent, Bosch,
Cisco Systems, Fujitsu, Hewlett-Packard, QUALCOMM, and Siemens, as
well as former parent Motorola.  Freescale nets about half of its
sales from the Asia/Pacific region. The Blackstone Group, The
Carlyle Group, Permira Advisers, and TPG Capital own the company.


GARLOCK SEALING: Garrison Files Schedules of Assets & Debts
-----------------------------------------------------------
A. Real Property                                            $0

B. Personal Property
B.1 Cash on hand
    Petty Cash                                             185
B.2 Bank Accounts
    Bank of America                                          0
B.3 Security Deposits with public utilities
    120 East Ave., LLC headquarters lease               10,000
B.9 Interests in insurance policies                          0
   See http://bankrupt.com/misc/GarrisonB9Insurance.pdf

B.13 Stock and interests in incorporated and unincorporated
    Businesses                                         Unknown
B.16 Accounts receivable
    Garlock Sealing Technologies LLC -- Intercompany
    Note                                           377,203,767
    The Anchor Packing Company -- Intercompany Note  1,324,219
    Garlock Sealing Technologies LLC -- Intercompany
    Payable                                             22,286
B.21 Other contingent and unliquidated claims
    AIU Policy No. 75103059                            Unknown
    Claims against certain other London Carriers       Unknown
    Marine; Folksam International Insurance Co.        Unknown
    Contingent reversionary interest in trust
    Declaration                                        Unknown
    Employers Mutual Casualty Company                  Unknown
    Fireman's Fund Insurance Co.                       Unknown
    Potential causes of action                         Unknown
    The Aetna Casualty & Surety Company                Unknown
B.28 Office equipment, furnishings and supplies         10,555
    See http://bankrupt.com/misc/GarrisonB28Equipment.pdf

B.29 Machinery, equipment and supplies                  20,107
    See http://bankrupt.com/misc/GarrisonB29Machinery.pdf

B.35 Other personal property
    Claims under AIG Settlement                    108,574,552
    Claims under Excess Insurance Co. Funding Pact  16,174,836
    Claims under Republic Policy                    10,000,000
    Claims under Continental Settlement              8,000,000
    Claims against Equitas Trust                     5,246,257
    Claims under Safety Policy                       5,000,000
    Claims under Fireman's Fund Policy               3,421,836
    Claims under Employers Policy                    1,574,902
    Claims under Aetna Policy                        1,400,881
    Prepaid Amount for Services with Data Vault          2,940
    Prepaid amount for services with Dox Electronics     1,945

   TOTAL SCHEDULED ASSETS                         $537,989,269
   ===========================================================

C. Property Claimed as Exempt                              n/a

D. Creditors Holding Secured Claims
    Bank of America, N.A.                           $8,833,323
    Garlock Sealing Technologies LLC                         0
    SunTrust Bank                                            0
    Wells Fargo Capital Finance, LLC                         0

E. Creditors Holding Unsecured Priority Claims               0

F. Creditors Holding Unsecured Non-priority Claims
    Garlock Sealing Technologies LLC -- Intercompany
    Note                                           168,998,373
    Garlock Sealing Technologies LLC -- Intercompany
    Note                                                20,793
    Others                                               2,926
    See http://bankrupt.com/misc/GarrisonSchedFClaims.pdf

   TOTAL SCHEDULED LIABILITIES                    $177,855,415
   ===========================================================

                      About Garlock Sealing

Headquartered in Palmyra, NY, Garlock Sealing Technologies LLC is
an EnPro Industries, Inc. company (NYSE: NPO).  For more than a
century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, Garlock filed a voluntary Chapter 11 petition (Bankr.
W. D. N.C. Case No. 10-31607) in Charlotte to establish a trust to
resolve all current and future asbestos claims against Garlock
under Section 524(g) of the U.S. Bankruptcy Code.  The Debtor
listed $500,000,001 to $1,000,000,000 in assets and $100,000,001
to $500,000,000 in debts as of the Petition Date.  Affiliates The
Anchor Packing Company and Garrison Litigation Management Group,
Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for Asbestos matters.

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


GARLOCK SEALING: Garrison Files Statement of Financial Affairs
--------------------------------------------------------------
Garrison Litigation Management Group Ltd. reports that it
generated revenues from business operations within the two years
immediately preceding the Petition Date:

  Source                                 Year           Income
  ------                                 ----           ------
Insolvent Insurance Carrier Recoveries  2008         $123,386
Insolvent Insurance Carrier Recoveries  2009          969,352
Insolvent Insurance Carrier Recoveries  2010          526,325
Coltec Asbestos Management Fee          2008          112,733
Coltec Asbestos Management Fee          2009          129,895
Coltec Asbestos Management Fee          2010          141,324

Paul L. Grant, president of Garrison Litigation, relates that
Garrison also gained income during the two years immediately
preceding the Petition Date from other sources other than the
operation of its business:

  Source                                 Year           Income
  ------                                 ----           ------
Interest income on Funds Held in Escrow 2009          $45,535
Interest income on $375M Garlock Note   2008       21,138,698
Interest income on $375M Garlock Note   2009       13,446,061
Interest income on $375M Garlock Note   2010        5,671,232
Interest income Accrued on Anchor Note  2008          66,3541

Mr. Grant notes that the Debtor made payments totaling
($1,097,454) to creditors within 90 days immediately before the
Petition Date.  A schedule of the creditor payments is available
for free at:

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

Garrison Litigation is a party to an action initiated by American
Motorists Insurance Company before the U.S. District Court for the
Northern District of Illinois.

Garrison Litigation also made a gift worth $15,000 to Rand
Corporation in September 2009.

Garrison Litigation also made payments to these professionals
related to debt counseling or bankruptcy within one year
immediately before the Petition Date:

  Firm                                      Amount
  ----                                      ------
  Rayburn Cooper & Durham, PA             $333,978
  Robinson Bradshaw & Hinson, P.A.         548,590

Garrison Litigation also transferred on March 5, 2010, $6,500,000
to David Glaspy, Esq., trustee for certain beneficiaries to a
March 4, 2010 Agreement and Declaration of Trust.

Garrison Litigation also closed its account at Bank of America,
N.A. in February 2010.

Garlock held certain property for another entity:

  Owner                       Description of Property
  -----                       -----------------------
  Coca Cola                   Beverage Cooler
  Village Supply Company      Keurig Coffee Machine
  Mountain Glacier, LLC       Water Dispenser

Elizabeth Barry serves as the Debtor's bookkeeper from June 2008
to present.

Enpro Industries, Inc., on behalf of Coltec Industries Inc. and
its affiliates, including the Debtors, issued consolidated
financial statements within two years immediately before the
Petition Date to Bank of America, Wells Fargo and SunTrust Bank.

Stockholders who directly or indirectly own, control or hold 5% or
more of the voting or equity securities of Garrison Litigation
are:

                                          Percentage of
   Name                   Title         Stock Ownership
   ----                   -----         ---------------
   Paul L. Grant          President and        0%
                          Director

   Timothy Hennessy       Vice President,      0%
                          Chief Financial
                          Officer and Director

   Christopher Drake      Vice President,      0%
                          Secretary and
                          Director

   Elizabeth Barry        Treasurer            0%

   Coltec Industries Inc.                    100%

                      About Garlock Sealing

Headquartered in Palmyra, NY, Garlock Sealing Technologies LLC is
an EnPro Industries, Inc. company (NYSE: NPO).  For more than a
century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, Garlock filed a voluntary Chapter 11 petition (Bankr.
W. D. N.C. Case No. 10-31607) in Charlotte to establish a trust to
resolve all current and future asbestos claims against Garlock
under Section 524(g) of the U.S. Bankruptcy Code.  The Debtor
listed $500,000,001 to $1,000,000,000 in assets and $100,000,001
to $500,000,000 in debts as of the Petition Date.  Affiliates The
Anchor Packing Company and Garrison Litigation Management Group,
Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for Asbestos matters.

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


GARLOCK SEALING: Wins Nod to Hire Firms in Ordinary Course
----------------------------------------------------------
Garlock Sealing Technologies LLC and its units received the
Court's permission to continue to employ the ordinary course
professionals subject to certain procedures set forth in the
ordinary course of business.

The OCPs provide services to the Debtors in areas, including:
state and local regulatory issues, environmental concerns, tax
issues, employee benefit matters, intellectual property issues,
litigation, general corporate matters, real estate matters and
labor and employee concerns.

The Debtors note that the OCPs will not be involved in the
administration of their Chapter 11 cases, but will provide
services in connection with the ongoing management of the Debtors'
operations and affairs.

A list of the OCPs is available for free at:

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

                      About Garlock Sealing

Headquartered in Palmyra, NY, Garlock Sealing Technologies LLC is
an EnPro Industries, Inc. company (NYSE: NPO).  For more than a
century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, Garlock filed a voluntary Chapter 11 petition (Bankr.
W. D. N.C. Case No. 10-31607) in Charlotte to establish a trust to
resolve all current and future asbestos claims against Garlock
under Section 524(g) of the U.S. Bankruptcy Code.  The Debtor
listed $500,000,001 to $1,000,000,000 in assets and $100,000,001
to $500,000,000 in debts as of the Petition Date.  Affiliates The
Anchor Packing Company and Garrison Litigation Management Group,
Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for Asbestos matters.

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


GARLOCK SEALING: Wins Nod to Hire Schachter as Asbestos Counsel
---------------------------------------------------------------
Garlock Sealing Technologies LLC and its units received the
Court's permission to employ Schachter Harris LLP as their special
asbestos defense counsel as of the Petition Date.

Schachter Harris has represented and advised the Debtors in the
defense of hundreds of lawsuits alleging personal injury arising
from asbestos contained in products manufactured or sold by
Garlock Sealing Technologies LLC.

As the Debtors' special asbestos counsel, Schachter Harris will
render services, including assisting the Debtors in developing and
presenting to the Court the Debtors' legal and factual positions
related to the Debtors' defenses and liability for Asbestos
Claims, the estimation of the value of Asbestos Claims, and any
adversary proceeding related to the Asbestos Claims, including any
proceeding seeking injunctive relief or damages as part of the
reorganization sought by the Debtors.

The Debtors will pay Schachter Harris' professionals according to
their customary hourly rates:

          Title                        Rate per Hour
          -----                        -------------
          Partners                      $210 to $300
          Attorneys                     $150 to $300
          Paralegals                      $70 to $90

Schachter Harris' professionals who will render services to the
Debtors are:

   Name                       Title            Rate per Hour
   ----                       -----            -------------
   Raymond P. Harris, Jr.     Partner              $280
   Cary I. Schachter          Partner              $300
   Laurie A. Fay              Partner              $210
   Juan Tomasino              Associate            $190
   Deborah A. Harris          Associate            $190
   Lesley W. Lewis            Associate            $160
   Susan E. Hannagan          Associate            $150
   Lauren Stevenson           Associate            $150
   Susan Ashmore              Counsel              $180

The Debtors will also reimburse Schachter Harris for expenses
incurred.

In the 12-month period before the Petition Date, Schachter Harris
received payments from the Debtors for professional services
rendered for $3,735,164 and expenses for $477,734.  Schachter
Harris is also a beneficiary of a March 4, 2010, trust interest
instrument that was funded to prepay the Debtors' prepetition
obligations to those professionals for services rendered.

The firm's Raymond P. Harris -- rharris@schachterharris.com --
discloses that Schachter Harris has formerly represented or
currently represents these parties in matters unrelated to the
Debtors' Chapter 11 cases:

* EnPro Industries, Inc.
* Coltec Industries Inc.
* Stemco LP
* PACCAR LP
* Continental Insurance Company
* Pacific Insurance
* Granite State Insurance Company
* Hartford Accident & Indemnity
* AIG Technical Services, Inc.
* Insurance Company of the State of Pennsylvania
* Columbus McKinnon Corporation

Blue Cross and Blue Shield also provide health benefit services to
Schachter Harris.

Despite those disclosures, Mr. Harris maintains that Schachter
Harris is a "disinterested person" as the term is defined under
Section 101(14) of the Bankruptcy Code.

                      About Garlock Sealing

Headquartered in Palmyra, NY, Garlock Sealing Technologies LLC is
an EnPro Industries, Inc. company (NYSE: NPO).  For more than a
century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, Garlock filed a voluntary Chapter 11 petition (Bankr.
W. D. N.C. Case No. 10-31607) in Charlotte to establish a trust to
resolve all current and future asbestos claims against Garlock
under Section 524(g) of the U.S. Bankruptcy Code.  The Debtor
listed $500,000,001 to $1,000,000,000 in assets and $100,000,001
to $500,000,000 in debts as of the Petition Date.  Affiliates The
Anchor Packing Company and Garrison Litigation Management Group,
Ltd., also filed for bankruptcy.

The filing covers only Garlock operations in Palmyra, New York and
Houston, Texas.  Garlock Rubber Technologies, Garlock Helicoflex,
Pikotek, Technetics, Garlock Europe and Garlock operations in
Canada, Mexico or Australia are not affected by the filing, nor is
EnPro Industries or any other EnPro operating subsidiary.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in its Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for Asbestos matters.

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


GENERAL GROWTH: To Arbitrate with Hughes Heirs
----------------------------------------------
Bill Rochelle at Bloomberg News reports that the bankruptcy judge
rebuffed General Growth Properties Inc. and ruled that an
arbitration panel could decide the basis for the claim that former
investors of Hughes Corp. will receive under the Chapter 11 plan.

Bloomberg recounts that Hughes Corp., some of whose investors
include heirs of the late Howard Hughes, owned a 22,500-acre
master-planned community project outside Las Vegas named
Summerlin.  Through a predecessor, General Growth acquired Hughes
Corp. under an agreement that provided for paying the purchase
price over 14 years.

The report relates that the Hughes investors filed a motion in
June asking the bankruptcy judge to force General Growth into the
appraisal proceeding to determine the final payment.  General
Growth responded by urging the judge to estimate the claim in
bankruptcy court.  At a hearing July 22, the judge concluded that
an arbitration wouldn't prevent confirmation of the reorganization
plan in October.

At the hearing, the judge also approved replacement financing
reducing the interest rate by 8% on $400 million in debt for the
reorganization.

                     About General Growth

Based in Chicago, Illinois, General Growth Properties, Inc. --
http://www.ggp.com/-- is the second-largest U.S. mall owner,
having ownership interest in, or management responsibility for,
more than 200 regional shopping malls in 44 states, as well as
ownership in master planned community developments and commercial
office buildings.  The Company's portfolio totals roughly
200 million square feet of retail space and includes more than
24,000 retail stores nationwide.  General Growth is a self-
administered and self-managed real estate investment trust.  The
Company's common stock is trading in the pink sheets under the
symbol GGWPQ.

General Growth Properties Inc. and its affiliates filed for
Chapter 11 on April 16, 2009 (Bankr. S.D.N.Y., Case No.
09-11977).  Marcia L. Goldstein, Esq., Gary T. Holtzer, Esq.,
Adam P. Strochak, Esq., and Stephen A. Youngman, Esq., at Weil,
Gotshal & Manges LLP, have been tapped as bankruptcy counsel.
Kirkland & Ellis LLP is co-counsel.  Kurtzman Carson Consultants
LLC has been engaged as claims agent.  The Company also hired
AlixPartners LLP as financial advisor and Miller Buckfire Co. LLC,
as investment bankers.  The Debtors disclosed $29,557,330,000 in
assets and $27,293,734,000 in debts as of December 31, 2008.

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


GLEBE INC: Has Until July 28 to File Schedules and Statements
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Virginia
extended until July 28, 2010, The Glebe, Inc.'s time to file its
schedules of assets and liabilities and statement of financial
affairs.

Daleville, Virginia-based The Glebe, Inc., filed for Chapter 11
bankruptcy protection on June 28, 2010 (Bankr. W.D. Va. Case No.
10-71553).  Michael E. Hastings, Esq., at Leclair Ryan, A
Professional Corporation, assists the Company in its restructuring
effort.  The Company listed $10,000,001 to $50,000,000 in assets
and $50,000,001 to $100,000,000 in liabilities.


GLOBAL CAPACITY: Files for Chapter 11 to Reduce Debt
----------------------------------------------------
Global Capacity has initiated a formal process that will result in
the Company restructuring its balance sheet and capitalization
structure.  This process will enable Global Capacity to emerge as
a stronger, more profitable company that is well positioned to
continue delivering the products and services that customers and
the market have come to expect from Global Capacity.  Through this
process, the Company is expected to substantially strengthen its
balance sheet, organizing its debt obligations and past due trade
payables.  These changes will enable the Company to drive organic
growth and to further invest in innovation.  The process is
expected to complete prior to year end.

Global Capacity has secured commitment for a capital infusion
(debtor in possession financing) required to restructure the
Company within Chapter 11 of the US Bankruptcy Code.  The capital
will be used to organize and satisfy payables to critical vendors
and fund working capital.  The Company also plans to eliminate as
much of its existing debt as possible, equitizing the balance
sheet, and reducing the monthly cash drain required for debt
service.  Through this process, the Company will seek to maximize
value for its creditors and shareholders, with a goal of achieving
some form of continuing participation for existing shareholders.
The Company has retained Capstone Investments as its financial
advisor to manage this process.  Questions regarding the process
may be directed to Capstone at (312) 878-4888.

Global Capacity expects to continue seamless service delivery to
customers through this process.  The Global Capacity team, along
with the Company's supplier partners, will continue to operate in
a business as usual mode.  The debtor in possession (DIP)
financing used to support this process will be used to maintain
supplier services on a current basis during the restructuring
process, and the plan of reorganization will include provisions to
satisfy past due obligations to critical suppliers.  The
satisfaction of these obligations, combined with the reduction of
debt from the balance sheet, is expected to enable the Company to
emerge from this process as a profitable company with positive
monthly cash flow.  This financial strength is expected to enable
Global Capacity to generate organic growth, creating opportunities
to expand partnerships with key customers and suppliers.

"As we have stated to the market over the last several quarters,
the number one concern that Global Capacity has as a company is
our balance sheet, and specifically the amount of trade payables,
convertible debentures, and senior debt that sit on the balance
sheet.  Customers and suppliers have made it very clear to the
Company that addressing those balance sheet concerns is an
absolute requirement," says Patrick Shutt, Global Capacity CEO.
"Entering a formal restructuring process is not something the
Company takes lightly, and is a course of last resort.  However,
the Company's attempts to restructure the balance sheet in an
informal process over the past 14 months have been unsuccessful,
and we were left with no choice but to pursue a formal process to
organize the payables, reduce or eliminate the debt, and provide
the Company with a balance sheet strong enough to enable the
business to grow."

                    About Global Capacity

Global Capacity is a telecom information and logistics company
that leverages a unique collection of global telecom supply and
pricing data to enable transparency and automation in the global
access network market.  The Company provides Software &
Optimization Solutions and Network Solutions that enable increased
efficiency and reduced cost of access networks for integrators,
telecommunications companies, and enterprise customers.  Global
Capacity is headquartered in Chicago, IL, with offices and
operational centers in the United States and European Union.  For
more information, please visit http://www.globalcapacity.com or
contact the Company at 312-673-2400.


GPX INTERNATIONAL: Plan of Liquidation Wins Court Approval
----------------------------------------------------------
The Hon. Joan N. Feeney of the U.S. Bankruptcy Court for the
District of Massachusetts confirmed GPX International Tire Corp.'s
amended Plan of Liquidation.

As reported in the Troubled Company Reporter on May 11, according
to the Disclosure Statement, the Plan provides for the continued
orderly liquidation of the Debtor's assets.  The proceeds of the
liquidation of the Debtor's assets, net costs of collection, will
be paid to the holders of the allowed claims against the Debtor.

Upon the confirmation of the Plan, Craig Jalbert will be appointed
as the liquidation supervisor to continue the liquidation of the
assets and to make distributions to creditors.

Holders of secured claims will receive their collateral or the
proceeds of their collateral.  The Debtor and the Committee
anticipate that sufficient funds will be available to make
substantial distribution to the holders of allowed general
unsecured claims.

   Type of Claim       Plan Treatment       Projected Recovery
   -------------       --------------       ------------------
Secured Parties Claim  Paid in accordance         53.5%
                       with Court approved
                       settlement agreement

Other Secured Claims   Paid in full or return    100%
                       of collateral

Other Priority Claims  Paid full in cash         100%

Gen. Unsecured Claims  Paid pro rata from        20% to 53.2%
                       Plan fund

Secured Parties        Paid in accordance        No recovery
                       with Court approved
                       settlement agreement

Equity Interests       Payment only if classes   No recovery
                       of senior claims paid in
                       full.

A full-text copy of the amended Disclosure Statement is available
for free at:

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

                      About GPX International

GPX International Tire Corporation was one of the largest
independent global providers of specialty "off-the-road" tires for
the agricultural, construction, materials handling and
transportation industries.  GPX is a worldwide company,
headquartered in Malden, Massachusetts, with operations in
NorthAmerica, China, Canada, and Germany.  A third generation
family-owned business, GPX and its predecessor companies have been
in business since 1922.

GPX International filed for Chapter 11 on Oct. 26, 2009 (Bankr. D.
Mass. Case No. 09-20170).  GPX is represented in U.S. Bankruptcy
Court by attorneys Harry Murphy of Hanify & King, P.C., and Peggy
Farrell of Hinckley Allen & Snyder LLP as corporate counsel.  TM
Capital Corp. serves as investment banker to GPX in connection
with these transactions and Argus Management Corporation serves as
restructuring advisor to GPX.  The petition says assets and debts
range from $100 million to $500 million.


GRAPHIC PACKAGING: Bank Debt Trades at 4% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Graphic Packaging
International is a borrower traded in the secondary market at
95.57 cents-on-the-dollar during the week ended Friday, July 23,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 0.47 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 May 16, 2014, and
carries Moody's Ba3 rating and Standard & Poor's BB+ rating.  The
loan is one of the biggest gainers and losers among 194 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Headquartered in Marietta, Georgia, Graphic Packaging Corporation
(NYSE:GPK) -- http://www.graphicpackaging.com/-- provides
paperboard packaging solutions for a variety of products to
multinational and other consumer products companies.  The company
provides its customers paperboard, cartons and packaging machines,
either as an integrated solution or separately.  Its packaging
products are made from a variety of grades of paperboard.  GPC
manufactures its packaging products from coated unbleached kraft
paperboard and coated recycled paperboard that it produces at its
mills, and a portion from paperboard purchased from external
sources.  The company operates in four geographic areas: the
United States, Central and South America (Brazil), Europe and
Asia-Pacific.  GPC conducts its business in two segments,
paperboard packaging and containerboard/other.

On March 14, 2008, Graphic Packaging Holding Company completed its
combination of Graphic Packaging Corporation and Altivity
Packaging LLC.  The combination of Graphic Packaging and Altivity
created a company with pro-forma 2007 revenues of over
$4.4 billion and pro-forma 2007 adjusted EBITDA of around
$553 million.

Headquartered in Carol Stream, Illinois, Altivity Packaging --
http://www.altivity.com-- produces various products such as
folding cartons, bag and plastic packaging, and decorative
laminations.  Altivity Packaging also provides gift boxes for
department stores and other retail venues, as well contract
packaging services and inks and coatings.  The company, which
operates about 60 manufacturing plants across the U.S., serves the
food, medical, and electronic industries, among others.  In 2006
Altivity Packaging was established after TPG Capital's purchase of
Smurfit-Stone Container's consumer packaging unit.


GREENFIELD SOUTH: S&P Assigns 'BB-' Rating on US$335 Mil. Notes
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its
preliminary 'BB-' issue-level rating to Greenfield South Power
Corp.'s proposed US$335 million senior secured term loan facility
due 2015.  The outlook is stable.  Standard & Poor's has also
assigned its '3' preliminary recovery rating to the proposed debt,
indicating S&P's expectation of a meaningful recovery (50%-70%) in
the event of default.

Greenfield is building a 293 megawatt combined-cycle, gas-turbine
power plant in Mississauga, Ont. Eastern Power Ltd. (not rated),
an equity contributor to Greenfield, is also responsible for the
project's design, engineering, and management, and provides
operations and maintenance support.

"The preliminary rating, which incorporates S&P's assessment of
the company's ability to repay the debt at maturity solely from
project sources, reflects S&P's view of a fair business risk
profile and an aggressive financial risk profile," said Standard &
Poor's credit analyst Greg Pau.  The fair business risk profile
reflects a short five-year debt tenor relative to the 20-year PPA
term, which means the proposed debt lenders will bear material
construction and ramp-up risks of the project and be exposed to
substantial refinancing risk.  S&P estimates that the company will
have to refinance about 92% of the original debt at maturity,
assuming that no remaining amount from the contingency reserve is
used for debt repayment.

"The project's construction and ramp-up risks are material, in
S&P's view, although the project benefits from proven and mature
technology, strong equipment suppliers, and the site's
suitability," Mr. Pau added.  The lack of corporate track record
of EP and the contractor, Alberici Constructors, Ltd. (not rated),
in managing complete CCGT projects heightens the risk of
construction delays, in S&P's view.

The project is at an advanced stage of design and engineering
work, with construction to start in early August 2010 and
commercial operation date scheduled in August 2012.  When
completed, the plant will sell capacity and energy to the Ontario
electricity market through a 20-year power purchase agreement with
Ontario Power Authority (not rated).  The Province of Ontario (AA-
/Stable/A-1+) established OPA in 2004 as a nonprofit organization
responsible for forecasting demand and ensuring adequacy and
reliability of electricity resources.

S&P base its preliminary rating on the organizational and debt
structures and draft documents that the company has given us.  The
rating also assumes that Greenfield will be a special-purpose
entity in accordance with Standard & Poor's criteria.  The rating
is subject to confirmation of the borrower's SPE status and that
the final project-related and loan documents be largely as
presented.

The stable outlook reflects S&P's view of the project's
construction and operating risks, as well as the significant
refinancing risk, to which creditors of the proposed debt are
exposed.  With the aggressive initial leverage and high
refinancing risk, S&P believes that there is now limited room at
the current rating to accommodate any significant construction
delay and cost overrun beyond what the contingency reserve can
cover.  S&P could lower the rating if construction progress falls
materially behind schedule or construction costs materially
increase before COD.  An upgrade is unlikely until construction is
complete and the project satisfies the PPA's requirements and
milestones.  Rating improvement after commissioning, if any, would
be modest in view of the material refinancing risk at maturity and
continued dependency on EP for O&M matters.


GSI GROUP: Emerges from Chapter 11 Reorganization
-------------------------------------------------
GSI Group Inc. has successfully emerged from its Chapter 11
restructuring.  As previously announced, the Company had filed for
Chapter 11 protection in the United States Bankruptcy Court for
the District of Delaware on November 20, 2009.  On May 27, 2010,
the Court entered an order approving and confirming the Final
Fourth Modified Joint Chapter 11 Plan of Reorganization for the
Company, as filed with the Court on May 24, 2010 and as
supplemented on May 27, 2010.

The Company entered Chapter 11 reorganization with over
$210 million in debt issued pursuant to 11% Senior Notes due 2013.
The Company emerged with approximately $107 million in debt issued
pursuant to 12.25% Senior Secured PIK Election Notes due 2014 and
approximately $50 million in total unaudited (global) Cash (before
payment of accrued professional fees and other bankruptcy payments
in an amount of approximately $15 million).  The Company's
shareholders prior to the emergence from bankruptcy retained
approximately 86.1% of the Company's capital stock following
emergence.  The remaining 13.9% of the Company's capital stock was
issued to the holders of the Senior Notes in partial exchange of
such notes and pursuant to the commitment of certain holders' to
backstop the rights offering.

" Today marks a new beginning for the Company," said Michael E.
Katzenstein, the Company's Chief Restructuring Officer.  "In
reaching this milestone, we have strengthened our balance sheet,
reduced our debt and created a structure that will allow us to
grow our business and build on our industry position.  We are
proud to have completed a long and difficult process and
positioned our business for growth and offer thanks to our loyal
and valued customers, our supplier community and especially our
committed leadership and employees worldwide."

"The leaders of all the GSI group of companies remained focused on
serving our customers by innovating, inventing and adapting, while
the Company restructured," said Katzenstein.  "Now that the
reorganization process is behind us, we look forward to further
dedicating resources to help our customers succeed in their
markets."

As contemplated by the Plan, the Company's board of directors was
reconstituted and the members of the Company's new board include
the following individuals: Michael Katzenstein, the Company's
Chief Restructuring Officer; Byron O. Pond, a member of the former
board of directors of the Company who will continue on the new
board of directors; K. Peter Heiland and Stephen W. Bershad, each
of whom brings over 20 years of experience in the technology
industry to the Company's board of directors; Eugene I. Davis, who
has served on over 20 boards of directors of companies in the last
5 years; Ira J. Lamel, who brings significant accounting
experience and knowledge to the board of directors; and Dennis J.
Fortino, who has over 15 years of experience in the semiconductor
and laser technology industries.

As of emergence, the Company's common shares are quoted on Pink
Sheets OTC Markets Inc. under the following new ticker symbol:
LASR.PK.

"GSI exits Chapter 11 well positioned to grow in each of its
principal markets as it continues to innovate and find new ways to
apply and differentiate its products and services and we believe
that the company is well situated to compete in today's
marketplace.  We have a talented team, industry-leading
technologies and an improved balance sheet.  On behalf of the
newly appointed board of the company, we will focus on attracting
the highest level talent and long term leadership, improving the
GSI companies' market position and, of course, developing and
inventing.  I look forward to working with our Executive Team in
order to promote this vision to customers and suppliers and to
capitalize on all the opportunities in front of a revitalized
GSI," said Stephen W. Bershad, former Chairman of the Equity
Committee and a member of GSI's new Board.

                      About 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. (GSIGQ).

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 as lead counsel.  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.


HARRISBURG, PA: Working on Terms of Forbearance with Covanta
------------------------------------------------------------
Covanta Holdings Corp. said in a regulatory filing it is
discussing the proposed terms of a forbearance period with
representatives of the City of Harrisburg, Pa., and certain other
stakeholders.

Covanta acknowledged that Harrisburg is in a precarious financial
condition with substantial obligations, and it has reported
consideration of various future options, including seeking
bankruptcy protection.

"We intend to work with the City of Harrisburg and other
stakeholders to maintain our position in the project and to
protect the recovery of our advance," Covanta said.

In 2008, Covanta entered into a 10-year agreement to maintain and
operate an 800 tpd energy-from-waste facility located in
Harrisburg. Under the agreement, Covanta has a right of first
refusal to purchase the facility.  Covanta also agreed to provide
construction management services and to advance up to
$25.5 million in funding for certain facility improvements
required to enhance facility performance, which improvements were
substantially completed during 2010.  The repayment of this
funding is guaranteed by the City of Harrisburg, but is otherwise
unsecured, and is junior to project bondholders' rights.

Covanta has advanced $21.7 million, of which $19.8 million is
outstanding as of June 30, 2010 under this funding arrangement.
The first three repayment installments under this funding
arrangement have been paid, but each of the repayment installments
of $600,000 which were due to Covanta on April 1, 2010 and July 1,
2010 have not been paid, and Harrisburg has requested a
forbearance period.


HCA INC: Bank Debt Trades at 4% Off in Secondary Market
-------------------------------------------------------
Participations in a syndicated loan under which HCA, Inc., is a
borrower traded in the secondary market at 95.90 cents-on-the-
dollar during the week ended Friday, July 23, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.66 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 Nov. 6, 2013, and carries Moody's Ba3
rating and Standard & Poor's BB rating.  The loan is one of the
biggest gainers and losers among 194 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

According to the Troubled Company Reporter on May 11, 2010,
Standard & Poor's placed its 'B+' corporate credit rating on
hospital giant HCA, Inc., and S&P's ratings on its secured and
unsecured debt on CreditWatch with positive implications.  "The
speculative-grade rating on HCA continues to reflect S&P's view
that the largest U.S. owner and operator of acute health care
facilities is particularly sensitive to reduced capacity
utilization and pricing," said Standard & Poor's credit analyst
David Peknay, "by virtue of the significant debt leverage assumed
in its November 2006 leveraged buyout."

Moody's Investors Service placed the ratings of HCA, Inc.,
including the B2 Corporate Family and Probability of Default
Ratings, under review for possible upgrade.  This rating action
follows the announcement that the company has filed a Form S-1 in
contemplation of an initial public offering.

Headquartered in Nashville, Tennessee, HCA is the nation's largest
acute care hospital company with 162 hospitals and 106
freestanding surgery centers (including eight hospitals and eight
freestanding surgery centers that are accounted for using the
equity method) as of March 31, 2010.  For the twelve months ended
March 31, 2010, the company recognized revenue in excess of
$30 billion.


HERTZ CORP: Bank Debt Trades at 4% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which The Hertz
Corporation is a borrower traded in the secondary market at 96.14
cents-on-the-dollar during the week ended Friday, July 23, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.47
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. 21, 2012, and carries
Moody's Ba1 rating and Standard & Poor's BB- rating.  The loan is
one of the biggest gainers and losers among 194 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc.
(NYSE: HTZ), based in Park Ridge, New Jersey, is the world's
largest general use car rental brand, operating from approximately
8,000 locations in 147 countries worldwide.  Hertz also operates
one of the world's largest equipment rental businesses, Hertz
Equipment Rental Corporation, through more than 375 branches in
the United States, Canada, France, Spain and China.


HOME VALLEY BANK: Closed; South Valley Bank Assumes Deposits
------------------------------------------------------------
Home Valley Bank of Cave Junction, Ore., was closed on July 23,
2010, by the Oregon Department of Consumer and Business Services,
which appointed the Federal Deposit Insurance Corporation as
receiver.  To protect the depositors, the FDIC entered into a
purchase and assumption agreement with South Valley Bank & Trust
of Klamath Falls, Ore., to assume all of the deposits of Home
Valley Bank.

The five branches of Home Valley Bank will reopen during normal
business hours as branches of South Valley Bank & Trust.
Depositors of Home Valley Bank will automatically become
depositors of South Valley Bank & Trust.  Deposits will continue
to be insured by the FDIC, so there is no need for customers to
change their banking relationship in order to retain their deposit
insurance coverage.  Customers of Home Valley Bank should continue
to use their existing branch until they receive notice from South
Valley Bank & Trust that it has completed systems changes to allow
other South Valley Bank & Trust branches to process their accounts
as well.

As of March 31, 2010, Home Valley Bank had around $251.80 million
in total assets and $229.6 million in total deposits.  South
Valley Bank & Trust will pay the FDIC a premium of 1.05 percent to
assume all of the deposits of Home Valley Bank.  In addition to
assuming all of the deposits of the failed bank, South Valley Bank
& Trust agreed to purchase essentially all of the assets.

The FDIC and South Valley Bank & Trust entered into a loss-share
transaction on $211.6 million of Home Valley Bank's assets.  South
Valley Bank & Trust 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, 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 1-800-528-4893.  Interested parties also can
visit the FDIC's website at:

   http://www.fdic.gov/bank/individual/failed/homevalleyor.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $37.1 million.  Compared to other alternatives, South
Valley Bank & Trust's acquisition was the least costly resolution
for the FDIC's DIF.  Home Valley Bank is the 103rd FDIC-insured
institution to fail in the nation this year, and the second in
Oregon.  The last FDIC-insured institution closed in the state was
Columbia River Bank, The Dalles, on Jan. 22, 2010.


HUNTSMAN ICI: Bank Debt Trades at 7% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which Huntsman ICI is a
borrower traded in the secondary market at 93.05 cents-on-the-
dollar during the week ended Friday, July 23, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.47 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 April 23, 2014, and carries Moody's Ba2
rating and Standard & Poor's B+ rating.  The loan is one of the
biggest gainers and losers among 194 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

Huntsman Corp. -- http://www.huntsman.com/-- is a global
manufacturer and marketer of differentiated chemicals.  Its
operating companies manufacture products for a variety of global
industries, including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction, technology,
agriculture, health care, detergent, personal care, furniture,
appliances and packaging.  Originally known for pioneering
innovations in packaging and, later, for rapid and integrated
growth in petrochemicals, Huntsman has more than 12,000 employees
and operates from multiple locations worldwide.  The Company had
2008 revenues exceeding $10 billion.


INNKEEPERS USA: Apollo to Ink Deal to Re-Acquire 50% Of Equity
--------------------------------------------------------------
Apollo Investment Corp. has struck a tentative deal with Lehman
Brothers Holdings Inc. that would allow the firm to again acquire
a 50% stake in real-estate investment trust Innkeepers USA Trust
upon its emergence from bankruptcy, Dow Jones Newswires reports.

Apollo Investment owns the membership interests of Debtor Grand
Prix Holdings LLC, the direct or indirect parent of all the other
Debtors.  Grand Prix Holdings received all, except for a
relatively small amount currently held by management, of
Innkeepers USA Trust's common shares issued in connection with the
company's acquisition.

The Debtors and Lehman ALI, Inc., an affiliate of LBHI, inked a
plan support agreement prior to the Petition Date.  Under the Plan
Support Agreement, Lehman ALI, in full and final satisfaction of
its approximately $238 million secured claim with respect to the
Floating Rate Mortgage Loan Agreement, will receive 100% of the
new shares of common stock issued by the Debtors pursuant to the
Plan, subject to dilution by a management equity incentive
program.  The Plan Support Agreement further provides that it will
be terminated if, among others, Lehman has not executed definitive
agreements with respect to the sale of 50% of the Lehman Shares
for a purchase price of at least $107.5 million no later than 45
days after the Petition Date; and Lehman has not consummated the
New Equity Sale Transaction no later than 270 days after the
Petition Date.

                   About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered Maryland real estate
investment trust with a primary business focus on acquiring
premium-branded upscale extended-stay, mid-priced limited service,
and select-service hotels.

Innkeepers, through its indirect subsidiaries, owns and operates
an expansive portfolio of 72 upscale and mid-priced extended-stay
and select-service hotels, consisting of approximately 10,000
rooms, located in 20 states across the United States.

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and a number of affilaites filed for Chapter
11 on July 19, 2010 (Bankr. S.D.N.Y. Case No. 10-13800).

Attorneys at Kirkland & Ellis LLP, serve as counsel to the
Debtors.  AlixPartners is the restructuring advisor and Marc A.
Beilinson is the chief restructuring officer.  Moelis & Company is
the financial advisor.  Omni Management Group, LLC, is the claims
and notice agent. The petition listed assets and debts of more
than $1 billion.

In 2009, Innkeepers' consolidated revenues were approximately
$292 million and adjusted EBITDA were approximately $85 million.
The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred approximately $1.29 billion of secured debt.

Bankruptcy Creditors' Service, Inc., publishes Innkeepers USA
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Innkeepers USA Trust and
its affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000).



INNKEEPERS USA: Proposes to Pay Employee Wages
----------------------------------------------
Innkeepers USA Trust and its 91 debtor affiliates ask the U.S.
Bankruptcy Court to enter interim and final orders authorizing,
but not directing, them to (i) pay certain prepetition wages,
salaries, and reimbursable employee expenses, (ii) pay and honor
certain employee medical and other benefits, and (iii) continue
employee benefits programs.

The Debtors estimate that they owe approximately $6.7 million on
account of the Employee Obligations.  They assure the Court that
they are not seeking to pay Employee Obligations that constitute
"wages, salaries, or commission" or "allow unsecured claims for
contributions to an employee benefit plan" on account of any one
employee in excess of the $11,725 priority cap imposed by Sections
507(a)(4) and 507(a)(5) of the Bankruptcy Code.

James H.M. Sprayregen, P.C., Esq., at Kirkland & Ellis LLP, in New
York, relates that the Debtors currently employ 26 employees and
also are directly responsible under various hotel management
agreements for the compensation and benefits for approximately
2,580 individuals, who work at the Debtors' 72 hotels.  The Hotel
Employees are either employees of Island Hospitality Management,
Inc., or Dimension Development Company, Inc.

Twenty-three of the Debtors' Employees and 372 of the Hotel
Employees are paid on a salaried basis and three of the Debtors'
Employees and 2,183 of the Hotel Employees are paid on an hourly
basis.

The Debtors seek the Court's permission to pay these employee
wages and benefits:

  (a) employee wages, which constitute unpaid compensation for
      approximately $2.6 million and certain deductions and
      withheld tax amounts;

  (b) reimbursable expenses, which are paid through a credit
      card program or payroll, and certain non-employee director
      travel expenses;

  (c) incentive plans consisting of:

      * Island Select Service Incentive Program and Full Service
        Incentive Program;

      * Dimension General Manager Incentive Bonus Plan;

      * Dimension Sales Incentive and Catering Incentive Plans;
        and

      * Management Incentive Plan; and

  (d) employee benefits programs, which include:

      * health benefits plans;
      * other insurance benefits;
      * 401(k) plan and deferred compensation plan;
      * workers' compensation;
      * vacation time and sick leave; and
      * union pension plan.

The Debtors' failure to satisfy their Employee Obligations will
jeopardize Employee morale and loyalty at a time when Employee
support is critical to stabilization efforts in the first instance
and the Debtors' overall restructuring efforts in the longer term,
Mr. Sprayregen contends.  He asserts that payment of Unpaid
Compensation at this time will enhance value for the benefit of
all interested parties because it will help ensure that the
Employees, which are the lifeblood of the Debtors' business
operations, continue to provide vital services to the Debtors at
this critical juncture.

Finding, attracting and training new qualified talent would be
extremely difficult and would most likely require higher salaries,
guaranteed bonuses and more comprehensive compensation packages
than are currently provided to the Debtors' Employees, Mr.
Sprayregen points out, among other things.

                         *     *     *

The Court granted the request on an interim basis.  Final hearing
on the request will be held on August 12, 2010.

                   About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered Maryland real estate
investment trust with a primary business focus on acquiring
premium-branded upscale extended-stay, mid-priced limited service,
and select-service hotels.

Innkeepers, through its indirect subsidiaries, owns and operates
an expansive portfolio of 72 upscale and mid-priced extended-stay
and select-service hotels, consisting of approximately 10,000
rooms, located in 20 states across the United States.

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and a number of affilaites filed for Chapter
11 on July 19, 2010 (Bankr. S.D.N.Y. Case No. 10-13800).

Attorneys at Kirkland & Ellis LLP, serve as counsel to the
Debtors.  AlixPartners is the restructuring advisor and Marc A.
Beilinson is the chief restructuring officer.  Moelis & Company is
the financial advisor.  Omni Management Group, LLC, is the claims
and notice agent. The petition listed assets and debts of more
than $1 billion.

In 2009, Innkeepers' consolidated revenues were approximately
$292 million and adjusted EBITDA were approximately $85 million.
The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred approximately $1.29 billion of secured debt.

Bankruptcy Creditors' Service, Inc., publishes Innkeepers USA
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Innkeepers USA Trust and
its affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000).


INNKEEPERS USA: Proposes to Hire Kirkland & Ellis as Counsel
------------------------------------------------------------
Innkeepers USA Trust and its 91 debtor affiliates seek the U.S.
Bankruptcy Court's permission to employ Kirkland & Ellis LLP as
their attorneys in connection with their Chapter 11 cases, nunc
pro tunc to the Petition Date and in accordance with that certain
engagement letter dated as of March 29, 2010.

As counsel, K&E has agreed to:

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

  (b) advise the Debtors on the conduct of the cases, including
      all of the legal and administrative requirements of
      operating in Chapter 11;

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

  (d) prosecute actions on the Debtors' behalf, defend any
      action commenced against them and represent their
      interests in negotiations concerning litigation in which
      they are involved, including objections to claims filed
      against the bankruptcy estates;

  (e) prepare pleadings in connection with the cases, including
      motions, applications, answers, orders, reports and papers
      necessary or otherwise beneficial to the administration of
      the estates;

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

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

  (h) appear before the Court and any appellate courts to
      represent the interests of the estates before those
      courts;

  (i) advise the Debtors regarding tax matters;

  (j) assist the Debtors in obtaining approval of a disclosure
      statement and confirmation of a Chapter 11 plan and all
      related documents; and

  (k) perform all other necessary legal services for the Debtors
      in connection with the prosecution of the cases, including
      analyzing the Debtors' leases and contracts and analyzing
      the validity of liens against the Debtors.

The Debtors will compensate K&E in its standard hourly rates:

    Billing Category               Range
    ----------------               -----
    Partners                    $550 - $995
    Of Counsel                  $500 - $965
    Associates                  $320 - $660
    Paraprofessionals           $155 - $280

The Debtors expect these professionals to have primary
responsibility for providing services to the Debtors:

    Professional                   Rate
    ------------                   ----
    James H.M. Sprayregen, P.C.    $995
    Paul M. Basta                  $955
    Anup Sathy, P.C.               $895
    Marc J. Carmel                 $735

K&E will also be reimbursed for identifiable, non-overhead
expenses incurred in connection with the Debtors' cases that would
not have been incurred except for the representation of the
Debtors.

Dennis M. Craven, Innkeepers USA Trust's chief financial officer,
informs the Court that on March 31, 2010, the Debtors paid
$1,000,000 to K&E as a classic retainer.  On July 14, 2010, the
Debtors paid to K&E an additional classic retainer of $95,588.

Paul M. Basta, Esq., a partner at K&E, assures the Court that the
firm is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code.

                   About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered Maryland real estate
investment trust with a primary business focus on acquiring
premium-branded upscale extended-stay, mid-priced limited service,
and select-service hotels.

Innkeepers, through its indirect subsidiaries, owns and operates
an expansive portfolio of 72 upscale and mid-priced extended-stay
and select-service hotels, consisting of approximately 10,000
rooms, located in 20 states across the United States.

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and a number of affilaites filed for Chapter
11 on July 19, 2010 (Bankr. S.D.N.Y. Case No. 10-13800).

Attorneys at Kirkland & Ellis LLP, serve as counsel to the
Debtors.  AlixPartners is the restructuring advisor and Marc A.
Beilinson is the chief restructuring officer.  Moelis & Company is
the financial advisor.  Omni Management Group, LLC, is the claims
and notice agent. The petition listed assets and debts of more
than $1 billion.

In 2009, Innkeepers' consolidated revenues were approximately
$292 million and adjusted EBITDA were approximately $85 million.
The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred approximately $1.29 billion of secured debt.

Bankruptcy Creditors' Service, Inc., publishes Innkeepers USA
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Innkeepers USA Trust and
its affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000).


INNKEEPERS USA: Proposes to Hire AP Services as Crisis Managers
---------------------------------------------------------------
Innkeepers USA Trust and its 91 debtor affiliates seek the U.S.
Bankruptcy Court's permission to employ AP Services, LLC, as
crisis managers to provide interim management and restructuring
services, nunc pro tunc to the Petition Date.  The Debtors also
ask the Court to designate Nathan J. Cook of AlixPartners LLP as
their interim chief financial officer, nunc pro tunc to the
Petition Date.

As provided in the Debtors and Mr. Cook's Engagement Letter, APS
has agreed that he will serve as the Debtors' interim CFO.
Working collaboratively with the Debtors' senior management team
and board of directors, as well as the Debtors' other
professionals, Mr. Cook will assist the Debtors in evaluating and
implementing strategic and tactical options through the
restructuring process.

APS has agreed to provide certain temporary staff to assist Mr.
Cook and the Debtors in their restructuring efforts.

The Debtors anticipate that during their bankruptcy cases, Mr.
Cook and the Temporary Staff will perform a broad range of
services, including:

  -- Lead the Debtors' financial and treasury functions;

  -- Develop and implement cash management strategies, tactics
     and processes;

  -- Prepare and monitor financial reports for internal and
     external use, in consultation with the Debtors' chief
     executive officer, chief restructuring officer, general
     counsel and other senior management;

  -- Assist in communication and negotiation with outside
     constituents, including the banks and their advisors, as
     appropriate;

  -- Have primary responsibility for the preparation, and to the
     extent required certification/attestation, of regular
     reports and information required by the Court and to be
     provided to stakeholders, which are customarily issued by
     the Debtors' CFO, as well as providing assistance in those
     areas as testimony before the Court on matters that are
     within APS' expertise;

  -- Serve as officers of subsidiaries as deemed necessary or
     advisable by the Debtors; and

  -- Assist with other matters as may be required that fall
     within APS' expertise and that are mutually agreeable.

The Debtors tell Judge Chapman that all of the services that APS
will provide to them will be appropriately directed so as to avoid
duplicative efforts among the other professionals retained in the
cases, and performed in accordance with applicable standards of
the profession.

The Engagement Letter contains standard indemnification language
with respect to APS' services, including an agreement by the
Debtors to indemnify APS, its affiliates and its officers and
employees from and against all claims and actual damages arising
out of or in connection with the engagement of APS.  Accordingly,
as part of the application, the Debtors ask the Court to approve
the indemnification provisions as set forth in the Engagement
Letter.

If APS finds it desirable to augment its Temporary Staff with
independent contractors:

  (a) APS will file, and require each Independent Contractor to
      file, declarations indicating that the Independent
      Contractor has reviewed the list of the interested parties
      in the cases, disclosing the Independent Contractor's
      relationships, if any, with the interested parties, and
      indicating that the Independent Contractor is
      disinterested;

  (b) each Independent Contractor will remain disinterested
      during the time that APS is involved in providing services
      on behalf of the Debtors; and

  (c) the Independent Contractor will represent that he/she will
      not work for the Debtors or other parties-in-interest
      during the time APS is involved in providing services to
      the Debtors.

APS' standard practice is to charge for an Independent
Contractor's services at the APS rate for a professional of
comparable skill and experience, which rate typically exceeds the
compensation provided by APS to the Independent Contractor, Dennis
M. Craven, Innkeepers USA Trust's chief financial officer, tells
the Court.

Mr. Cook will be paid $100,000 per month for his full time
commitment as interim CFO.

The Debtors will pay these temporary staffs in their standard
hourly rates:

  Name            Description               Rate   Commitment
  ----            -----------               ----   ----------
Todd Brents      Bankruptcy Preparation    $760    As needed
                 Services

Raymond Adams    Bankruptcy Preparation    $580    Full Time
                 and Management Services

APS will file monthly staffing reports to identify any additional
Temporary Staff.

The Debtors will reimburse APS, upon receipt of periodic billings,
for all reasonable and necessary expenses incurred in connection
with its retention.

Mr. Craven informs the Court that APS typically works for
compensation that includes base fee and contingent incentive
compensation earned upon achieving meaningful results.  In this
case, the Debtors and AlixPartners have agreed not to include a
success fee as compensation.

The Debtors paid APS an initial retainer of $250,000 on June 10,
2010.  Pursuant to the Engagement Letter, invoiced amounts have
been recouped against the Retainer, and payments on the invoices
have been used to replenish the Retainer.  During the 90 days
prior to the Petition Date, the Debtors paid APS a total of
$478,733 incurred in providing services to the Debtors in
contemplation of, and in connection with, prepetition
restructuring activities.

Due to the ordinary course and unavoidable reconciliation of fees
and submission of expenses immediately prior to, and subsequent
to, the Petition Date, APS has incurred but not billed fees and
reimbursable expenses, which relate to the prepetition period.
Hence, APS seeks the Court's approval to apply the Retainer to
these amounts and any further prepetition fees and expenses APS
becomes aware of during its ordinary course billing review and
reconciliation.

Upon the proposed applications of the Retainer, Mr. Craven says
that the Debtors would not owe APS any sums for prepetition
services.

Mr. Cook, a managing director of AlixPartners and an authorized
representative of APS, assures Judge Chapman that APS is a
"disinterested person" within the meaning of Section 101(14) of
the Bankruptcy Code.

                   About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered Maryland real estate
investment trust with a primary business focus on acquiring
premium-branded upscale extended-stay, mid-priced limited service,
and select-service hotels.

Innkeepers, through its indirect subsidiaries, owns and operates
an expansive portfolio of 72 upscale and mid-priced extended-stay
and select-service hotels, consisting of approximately 10,000
rooms, located in 20 states across the United States.

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and a number of affilaites filed for Chapter
11 on July 19, 2010 (Bankr. S.D.N.Y. Case No. 10-13800).

Attorneys at Kirkland & Ellis LLP, serve as counsel to the
Debtors.  AlixPartners is the restructuring advisor and Marc A.
Beilinson is the chief restructuring officer.  Moelis & Company is
the financial advisor.  Omni Management Group, LLC, is the claims
and notice agent. The petition listed assets and debts of more
than $1 billion.

In 2009, Innkeepers' consolidated revenues were approximately
$292 million and adjusted EBITDA were approximately $85 million.
The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred approximately $1.29 billion of secured debt.

Bankruptcy Creditors' Service, Inc., publishes Innkeepers USA
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Innkeepers USA Trust and
its affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000).


INNKEEPERS USA: Says Utilities Adequately Assured of Payment
------------------------------------------------------------
In the ordinary course of business, Innkeepers USA Trust and its
91 debtor affiliates' hotels as well as their corporate offices
incur expenses for gas, water, sewer, electric and other similar
utility services provided by 182 utility providers, as the term is
used in Section 366 of the Bankruptcy Code.  The Utility Providers
rendered services to the Debtors' 72 hotels and corporate offices
as of the Petition Date.

A list of the Debtors' Utility Providers can be obtained for free
at http://bankrupt.com/misc/IKU_UtilityList_071910.pdf

By this motion, the Debtors ask the Court for interim and final
orders:

  (a) determining adequate assurance of payment for future
      utility services; and

  (b) prohibiting the alteration, refusal or discontinuation of
      utility services, or the discrimination against the
      Debtors on account of their bankruptcy filing, prepetition
      amounts outstanding, or any perceived inadequacy of their
      proposed adequate assurance.

Pursuant to various hotel management agreements, Island
Hospitality Management, Inc., and Dimension Development Company,
Inc., cause to be disbursed on a regular basis, on behalf of the
Debtors, funds owed to the Utility Providers for operating
expenses, including utility services provided to the Hotels.  The
Debtors also make regular payments to the Utility Providers out of
an account maintained by Debtor Innkeepers USA Limited Partnership
for utility services provided to the Debtors' corporate offices.

Utility costs aggregate approximately $1.6 million each month for
the Hotels and the Debtors' corporate offices, discloses James
H.M. Sprayregen, P.C., Esq., at Kirkland & Ellis LLP, in New York.
As of the Petition Date, the Debtors estimate that approximately
$800,000 in utility costs for the Hotels and corporate offices may
be outstanding.  The Debtors do not believe they owe any past due
amounts to the Utility Providers.

The Debtors expect that their cash flow from operations and cash
on hand will be sufficient to pay postpetition utility service
obligations.  Therefore, in accordance with prepetition practices,
the Debtors intend to satisfy postpetition obligations owed to the
Utility Providers in a timely manner, Mr. Sprayregen tells Judge
Chapman.

Notwithstanding the protections afforded to the Utility Providers
by the Debtors' demonstrated ability to pay for future utility
services in the ordinary course of business, the Debtors seek the
Court's approval of certain procedures that will (i) require the
Debtors to establish a cash deposit for the benefit of any Utility
Provider that requests one, and (ii) offer an opportunity for the
Utility Providers to request additional assurance of payment in
addition to the cash deposit.

Pursuant to their proposed Adequate Assurance Procedures, the
Debtors will deposit an amount equal to the estimated aggregate
cost for two weeks of utility service, calculated as a historical
average over the twelve months preceding the Chapter 11 filing,
into a single, newly created, segregated, interest-bearing account
for all Utility Providers, who request that deposit in writing.

Each Utility Provider is entitled to recover from the Adequate
Assurance Deposit Account an amount up to the amount of the
Adequate Assurance Deposit for that Utility Provider for unpaid,
past due invoices.

If a Utility Provider does not believe the Adequate Assurance
Deposit provides adequate assurance of payment, it may seek
additional assurance of payment in the form of deposits,
prepayments, or otherwise by serving an additional assurance
request upon certain notice parties.  If Additional Assurance
Request is not resolved by the parties, the Debtors will request a
hearing before the Court to determine the adequacy of assurances
of payment with respect to that particular Utility Provider.

A full-text copy of the Debtors' proposed Adequate Assurance
Procedures is available for free at:

      http://bankrupt.com/misc/IKU_AdeqAssProc_071910.pdf

Uninterrupted utility services are essential to the Debtors'
ongoing operations and, therefore, to the success of their
reorganization, Mr. Sprayregen contends.  Indeed, any interruption
of utility services, even for a brief period of time, would
negatively affect the Debtors' operations, franchisor
relationships, revenues and profits, seriously jeopardizing the
Debtors' reorganization efforts and, ultimately, value and
creditor recoveries, he continues.

The proposed procedures are appropriate in the Debtors' cases, Mr.
Sprayregen asserts.  He insists that if the procedures are not
approved, the Debtors could be forced to address numerous requests
by the Utility Providers in a disorganized manner during the
critical first months of the cases.  He adds that a Utility
Provider could blindside the Debtors by unilaterally deciding, on
or after the 30th day following the Petition Date, that it is not
adequately protected and discontinue service or make an exorbitant
demand for payment to continue service.

                   About Innkeepers USA Trust

Innkeepers USA Trust is a self-administered Maryland real estate
investment trust with a primary business focus on acquiring
premium-branded upscale extended-stay, mid-priced limited service,
and select-service hotels.

Innkeepers, through its indirect subsidiaries, owns and operates
an expansive portfolio of 72 upscale and mid-priced extended-stay
and select-service hotels, consisting of approximately 10,000
rooms, located in 20 states across the United States.

Apollo Investment Corporation acquired Innkeepers in June 2007.

Innkeepers USA Trust and a number of affilaites filed for Chapter
11 on July 19, 2010 (Bankr. S.D.N.Y. Case No. 10-13800).

Attorneys at Kirkland & Ellis LLP, serve as counsel to the
Debtors.  AlixPartners is the restructuring advisor and Marc A.
Beilinson is the chief restructuring officer.  Moelis & Company is
the financial advisor.  Omni Management Group, LLC, is the claims
and notice agent. The petition listed assets and debts of more
than $1 billion.

In 2009, Innkeepers' consolidated revenues were approximately
$292 million and adjusted EBITDA were approximately $85 million.
The Company's consolidated assets for 2009 totaled approximately
$1.5 billion.  As of July 19, 2010, the Company and its affiliates
have incurred approximately $1.29 billion of secured debt.

Bankruptcy Creditors' Service, Inc., publishes Innkeepers USA
Bankruptcy News.  The newsletter tracks the chapter 11
restructuring proceedings commenced by Innkeepers USA Trust and
its affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000).


L RAMON BONIN: Has Until October 15 to File Chapter 11 Plan
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
extended until October 15, 2010, L. Ramon Bonin and Patty A.
Bonin's exclusive period to file a proposed Chapter 11 Plan.

San Juan Capistrano, California-based L. Ramon Bonin and Patty A.
Bonin filed for Chapter 11 bankruptcy protection on March 31, 2010
(Bankr. C.D. Calif. Case No. 10-14067).  James C. Bastian, Jr.,
Esq., at Shulman Hodges & Bastian LLP, assists the Debtors in
their restructuring efforts.  The Debtors estimated their assets
and debts at $100,000,001 to $500,000,000.


L RAMON BONIN: Gets OK to Provide Unsecured Credit to Dynamic
-------------------------------------------------------------
L. Ramon Bonin and Patty A. Bonin sought and obtained the consent
of the Hon. Theodor C. Albert of the U.S. Bankruptcy Court for the
Central District of California to provide an up to $500,000
unsecured a line of credit to the debtor and debtor in possession,
Dynamic Builders, Inc.

The amount will be used for the purpose of satisfying Dynamic's
ordinary course operating expenses and interest payments to
secured lenders as part of cash collateral arrangements between
Dynamic and its secured lenders, with repayment of the loan being
afforded administrative priority status in Dynamic's bankruptcy
case.

The Debtors own 100% of the common stock of Dynamic, which owns
six completed properties and seven parcels of vacant land.
Dynamic is involved in its own Chapter 11 bankruptcy proceeding.
The Debtors propose to lend money to the Dynamic bankruptcy estate
as detailed herein.  It was common prior to the bankruptcy for the
Debtors to loan money to Dynamic.

Pursuant to the Debtors schedules, the Debtors have $16,652,664.10
on deposit, including $4.5 million in a restricted account at Bank
of America.  In addition, the Debtors have an IRA and Social
Security account with $229,379.09.

The Debtors have given personal guarantees on various loans
related to the properties owned by Dynamic.  The personal
guarantee obligations may exceed $145,000,000.  For many months
prior to the Petition Date, the Debtors funded shortfalls in
Dynamic's finances from their personal funds.  This was done in
part to ensure that Dynamic met its obligations but also because
such payments benefitted the Debtors.  Since the Debtors have
guarantied substantially all of Dynamic's debt, a default by
Dynamic could have a direct and dramatic negative impact on the
Debtors.  Funding of Dynamic, up to $1.5 million and with the
protections afforded the Debtors, is a proper exercise of the
Debtors' business judgment and in the best interest of the
Debtors' bankruptcy estate.

Although properties owned by the Debtors in their individual
capacity are unencumbered, the Debtors are the principals and
shareholders of Dynamic and have guaranteed Dynamic's financial
obligations to its three secured lenders, Bank of America, City
National Bank and Citizens Business Bank.  The Debtors and Dynamic
share a common interest with respect to the payment of Dynamic's
obligations related to the real properties.

The Debtors are also co-borrowers with Dynamic on the obligations
to Comerica Bank related to an Amended and Restated Business Loan
Agreement dated June 4, 2007 (Comerica Loan Agreement).  Under the
Comerica Loan Agreement, Comerica provided the Debtors and Dynamic
with certain credit facilities on a combined, co-borrower basis.
Prior to the Petition Date, the Debtors and Dynamic defaulted on
the obligations to Comerica, and, as a result thereof, in May
2009, Comerica notified the Debtors and Dynamic that it had
accelerated the obligations due and later filed a complaint in the
Orange County Superior Court against the Debtors and Dynamic.

                       About L. Ramon Bonin

San Juan Capistrano, California-based L. Ramon Bonin and Patty A.
Bonin filed for Chapter 11 bankruptcy protection on March 31, 2010
(Bankr. C.D. Calif. Case No. 10-14067).  James C. Bastian, Jr.,
Esq., at Shulman Hodges & Bastian LLP, assists the Debtors in
their restructuring efforts.  The Debtors estimated their assets
and debts at $100,000,001 to $500,000,000.


L & G MCDOWELL: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: L & G McDowell, L.L.C.
        580 South College Avenue, #201
        Tempe, AZ 85281

Bankruptcy Case No.: 10-22483

Chapter 11 Petition Date: July 19, 2010

Court: U.S. Bankruptcy Court
       District of Arizona (Phoenix)

Judge: George B. Nielsen Jr.

Debtor's Counsel: Shelton L. Freeman, Esq.
                  Deconcini McDonald Yetwin & Lacy PC
                  6909 East Main Street
                  Scottsdale, AZ 85251
                  Tel: (480) 398-3100
                  Fax: (480) 398-3101
                  E-mail: tfreeman@lawdmyl.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Jeffrey Geyser, president of Lawrence &
Geyser Dev Corp, debtor's manager.


LAKE AT LAS VEGAS: Creditor Trustee Wants $469MM Awarded to Trust
-----------------------------------------------------------------
Larry Lattig, in his capacity as trustee of the LLV Creditor Trust
in the Chapter 11 case of Lake at Las Vegas Joint Venture, LLC,
and its debtor-affiliates, asks the U.S. Bankruptcy Court for the
District of Nevada to award the creditor trust $469,000,000 for
the fraudulent insider transfers.

The Creditor Trust was created in accordance with the Third
Amended Chapter 11 Plan of Reorganization proposed by the Debtors.

Mr. Lattig tells the Court that:

   -- the controlling shareholders paid themselves - and certain
      related persons, entities, and other insiders - an
      approximate $470 million distribution from the loan proceeds
      of two loans from a syndicate of banks led by Credit Suisse
      totaling $560 million made to the Debtors;

   -- the Debtors received no benefit from the $470 million
      distribution; to the contrary, the enormous distribution
      rendered the Debtors insolvent, seriously undercapitalized,
      and unable to pay its debts as they became due.  The
      $470 million distribution caused the Debtor's eventual
      collapse and led to the Debtors' filing bankruptcy on
      July 17, 2008;

   -- the Debtors' directors, officers and other fiduciaries
      breached their fiduciary duties to them and to their
      creditors by approving and implementing the insider
      transfers, illegal dividends, and other transfers to the
      insiders for no or inadequate consideration at times when
      the Debtors were insolvent, in the zone or vicinity of
      insolvency, or rendered insolvent by the insider transfers
      and other transfers; and

   -- the trustee's review of the Debtors' affairs uncovered
      accounting irregularities and improper practices in which
      their management materially misstated the company's true
      financial condition.  Certain of the insider defendants
      appear to have engaged in an orchestrated campaign to
      destroy documents and "sanitize" the computer files as they
      were handing over the reins of the company at the end of
      2007.  As the controlling shareholders were also preparing
      to exit the company, they also caused the Debtors to make
      several million dollars in voidable preference payments to
      companies they owned or controlled.

The trustee, as the representative of the Debtors' estates, also
asks the Court to:

   -- entitle the creditor trust judgment against the director,
      managing member, and officer defendants for compensatory
      damages for their breach of fiduciary duties, plus pre- and
      post-judgment interest, costs and attorneys' fees;

   -- award the creditor trust all damages to which it is entitled
      for all breaches of fiduciary duties to the Debtors and the
      insider defendants aiding and abetting the Debtors'
      directors, managing members, and officers' breach of their
      fiduciary duties to the Debtor entities and their creditors
      while they were insolvent or in the zone of insolvency;

   -- declare that all of the insiders' claims against the Debtors
      are recharacterized as equity under the Plan and are
      disallowed or subordinated, and that the insiders are
      entitled to no distribution on claims prior to payment in
      full in cash of the claims of all other creditors;

                    About Lake Las Vegas

Headquartered in Henderson, Nevada, Lake at Las Vegas Joint
Venture, LLC and 14 of its debtor-affiliates --
http://www.lakelasvegas.com/-- are owners and developers of
3,592-acre residential and resort destination Lake Las Vegas
Resort in Las Vegas, Nevada.  Centered around a 320-acre man-made
lake, Lake Las Vegas contains more than 9,000 residential units,
and also includes two luxury resort hotels (a Loews and a Ritz-
Carlton), a casino, a specialty retail village shopping area,
marinas, three signature golf courses and related clubhouses, and
other real property.

The Debtors filed separate petitions for Chapter 11 relief on
July 17, 2008 (Bankr. D. Nev. Lead Case No. 08-17814).  When Lake
at Las Vegas Joint Venture, LLC, filed for protection from its
creditors, it listed assets of $100 million to $500 million, and
debts of $500 million to $1.0 billion.  Courtney E. Pozmantier,
Esq., Martin R. Barash, Esq., at Klee, Tuchin, Bogdanoff & Stern
LLP, Jason D. Smith, Esq., at Santoro, Driggs, Walch, Kearney,
Holley & Thompson, Jeanette E. McPherson, Esq., Lenard E.
Schwartzer, Esq., at Schwartzer & McPherson Law Firm, represent
the Debtors as counsel.  Kaaran E. Thomas, Esq., Ryan J. Works,
Esq., at McDonald Carano Wilson LLP, represent the Official
Committee of Unsecured Creditors as counsel.


LAKEVIEW AT CAROLINA: Files for Bankruptcy in North Carolina
------------------------------------------------------------

Lakeview at Carolina Beach, LLC, filed for Chapter 11 on July 19
(Bankr. E.D. N.C. Case No. 10-05718).

Wayne Faulkner at StarNews Online reports that Lakeview sought
bankruptcy court protection amid foreclosure suit pending in
Superior Court.

According to the report, the Company listed assets of
$10.9 million.  The Company has about $7.5 7 million in secured
claims against its property including $6.5 million by First Bank
and $1 million by John S. Clark Construction LLC.

Lakeview at Carolina Beach LLC is the company that developed the
Waterview condominium complex in Carolina Beach.


LAKEVIEW AT CAROLINA: Case Summary & 7 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Lakeview at Carolina Beach, LLC
        15770 North Dallas Parkway, Suite 700
        Dallas, TX 75248

Bankruptcy Case No.: 10-05718

Chapter 11 Petition Date: July 19, 2010

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

Debtor's Counsel: Eric A. Liepins, Esq.
                  12770 Coit Road, Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  Fax: (972) 991-5788
                  E-mail: eric@ealpc.com

Scheduled Assets: $10,902,000

Scheduled Debts: $9,486,585

The petition was signed by Bruce West Sr., VP of managing member.

Debtor's List of 7 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
JR Realty Corp                                   $1,725,259
15770 North Dallas Parkway
Suite 700
Dallas, TX 75248

Jubilee Park at Carolina                         $117,583
Beach
15770 N. Dallas PArkway
Suite 700
Dallas, TX 75248

City of Carolina Beach                           $68,000
1121 N. Park Blvd.
Carolina Beach, NC 28428

City of Carolina Beach                           $1,181

GE Appliances                                    $700

Ahhh Air                                         $300

TA Woods                                         $255


LAS VEGAS SANDS: Bank Debt Trades at 11% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Las Vegas Sands
Corp. is a borrower traded in the secondary market at 88.76 cents-
on-the-dollar during the week ended Friday, July 23, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.45
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 loan is
one of the biggest gainers and losers among 194 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.


LEUCADIA NATIONAL: Americredit/GM Deal Won't Move Moody's Rating
----------------------------------------------------------------
Moody's Investors Service said the sale of AmeriCredit to General
Motors has no effect on Leucadia's ratings, including the B1
Corporate Family Rating given the amount of proceeds when compared
to Leucadia's large size, current liquidity, and uncertainty
surrounding the use of proceeds.  Nevertheless, per Leucadia's 8k
filing, it anticipates proceeds of approximately $830 million for
its 25% of AmeriCredit.  The transaction shows the benefits of
Leucadia's opportunistic strategy both in its purchase strategy
and in its willingness to part with investments for a material
gain after creating value.

The last rating action on Leucadia was June 30, 2010, when
Leucadia's ratings were affirmed and the outlook changed to stable
from negative.

Leucadia National Corp, headquartered in New York, New York, is a
diversified holding company engaged in a variety of businesses,
including manufacturing, telecommunications, land based contract
oil and gas drilling, property management and services, gaming
entertainment, real estate activities, medical product development
and winery operations.  The company also has significant
investments in four public companies and owns equity interests in
operating businesses and investment partnerships which are not
publicly traded.


LONGVIEW ALUMINUM: Dist. Ct. Says LLC Managing Member an Insider
----------------------------------------------------------------
WestLaw reports that the managing member of a Chapter 11 debtor
that was organized as a limited liability company under Delaware
law qualified as the debtor's "insider," as defined by the
Bankruptcy Code, regardless of whether the managing member was a
"person in control" of the debtor-LLC within the meaning of the
Code's definition of "insider."  An LLC member was a position
analogous to that of a director of a corporation under state law,
and the agreement governing the debtor-LLC provided its managing
members with substantial authority to manage its operations and
affairs.  Thus, the managing member was subject to the one-year
preferential transfer period applicable to a debtor's insiders.
Longview Aluminum, L.L.C. v. Brandt, --- B.R. ----, 2010 WL
2635787 (N.D. Ill.) (Der-Yeghiayan, J.).

This decisions affirms the Honorable Eugene Wedoff's ruling
reported at In re Longview Aluminum, L.L.C., 419 B.R. 351, 2009 WL
4047999 (Bankr. N.D. Ill.), and in the Troubled Company Reporter
on Dec. 23, 2009.

Longview Aluminum, L.L.C., operated a high-purity aluminum
smelting facility and sought chapter 11 protection on March 4,
2003 (Bankr. D. Del. Case No. 03-10642, subsequently transferred
to Bankr. N.D. Ill. Case No. 03-12184).  Longview estimated its
assets and debts at less than $10 million at the time of the
filing.  William A. Brandt serves as the Chapter 11 trustee for
the estate of Longview Aluminum, L.L.C., and is represented by
Daniel A. Zazove, Esq., and Kathleen A. Stetsko, Esq., at Perkins
Coie, LLP, in Chicago.


M&M KATZ: Expensive Rent Prompts Chapter 11 Bankruptcy Filing
-------------------------------------------------------------
Jacob Dirr at Business Journal of Houston reports that M&M Katz
Inc. filed for bankruptcy, citing expensive rent and a landlord
threatening to evict company owner Marc Katz.  Mr. Katz said he
was unable to respond to rising costs and declining economic
conditions quickly enough.
Business Journal, citing papers filed with the Court, said the
Company owes $121,900 in federal, state and county taxes; $30,000
to about 14 vendors; and $26,000 owes more than 55 past and
present employees.

M&M Katz Inc. operates a deli shop in New York.


MAIETTA CONSTRUCTION: Financial Woes Prompt Bankruptcy Filing
-------------------------------------------------------------
The Forecaster reports that Maietta Construction filed for
bankruptcy under Chapter 11 in the U.S. Bankruptcy Court in
Portland in light of financial problems caused by fuel costs and
decreased demand for construction projects.  The Company expects
to restructure its debts and address its expenses in an attempt to
return to profitability, the report notes.  Maietta is a family-
owned construction company.


MARKET DEVELOPMENT: Fails to Pay Taxes; Case Dismissal Sought
-------------------------------------------------------------
The United States of America, on behalf of its agency, the
Internal Revenue Service, asks the U.S. Bankruptcy Court for the
Northern District of Alabama to dismiss the Chapter 11 case of
Market Development Specialists, Inc.

David Capp, a U.S. attorney, explains that the Debtor failed to
file and likely failed to pay its Form 941 FICA tax return for the
first and second quarter 2010 FICA taxes.

Elkhart, Indiana-based Market Development Specialists, Inc. -- dba
RetroBytes and Wintergreen Systems -- filed for Chapter 11
bankruptcy protection on April 1, 2010 (Bankr. N.D. Ind. Case No.
10-31487).  John S. Hosinski, Esq., who has an office in South
Bend, Indiana, represents the Debtor in its restructuring effort.
The Debtor listed $17,401,356 in assets and $25,137,362 in
liabilities.


MAYSVILLE INC: Hearing on Cash Collateral Access Set for August 9
-----------------------------------------------------------------
The Hon. Laurel M. Isicoff of the U.S. Bankruptcy Court for the
Southern District of Florida will consider on August 9, 2010, at
10:30 a.m., Prevailing Eastern Time, Maysville, Inc.'s access to
the cash collateral of MUNB Loan Holdings LLC.  Objections, if
any, are due on August 5 at 4:30 p.m.

The Debtor was indebted and liable to Mellon under the Development
Loan Documents in the aggregate amount of not less than
$23,207,131, including accrued and unpaid interest thereon, and
fees and expenses.  The loan is secured by liens on and security
interests in the collateral, subordinate only to the carve out.

The Debtor would use the cash collateral, consists of cash, cash
equivalents, and any proceeds of the collateral, to fund its day-
to-day operations and the administration of the Chapter 11 case.
The Debtor's right to use Mellon's cash collateral will terminate
on the earlier to occur of (i) 11:59 p.m. on the date that is
60 days after the petition date; or (ii) the termination event.

The Debtor related that Mellon is adequately protected by (i) the
Debtor's use of cash collateral which maximizes and preserves the
value of the collateral, (ii) the adequate protection payments,
(iii) the adequate protection liens, and (iv) super-priority
administrative claim.

                       About Maysville, Inc.

Miami, Florida-based Maysville, Inc., filed for Chapter 11
bankruptcy protection on June 28, 2010 (Bankr. S.D. Fla. Case No.
10-28244).  Stan Riskin, Esq., who has an office in Plantation,
Florida, assists the Company in its restructuring effort.  The
Company listed $24,690,000 in assets and $20,225,364 in
liabilities.


MERUELO MADDUX: Secured Lenders Want to File Competing Plan
-----------------------------------------------------------
Bill Rochelle at Bloomberg News reports that the Official
Committee of Unsecured Creditors for Meruelo Maddux Properties
Inc. is supporting a request by secured creditors to propose a
third plan for Meruelo Maddux.  Lenders Legendary Investors Group
No. 1 LLC and East West Bank wants to propose a plan that would
include a $5 million cash injection and conversion of $65 million
of debt into equity.  A hearing is scheduled for August 2.

To recall, shareholders Charlestown Capital Advisors and Hartland
Asset Management earlier filed a competing plan for Meruelo.
Holders of secured claims will be paid in full but over time with
interest.  Existing stockholders will receive cash or a
combination of cash and new stock.  New investors will pay at
least $30 million for the new stock.

Meruelo Maddux is also proposing its own Chapter 11 plan.  The
plan provides for the payment in full of all claims over time with
interest.

According to the Bloomberg report, while the Committee hasn't
finished its analysis of the merits of the three plans, the panel
sees the lenders' plan as "far superior" because it would pay
unsecured creditors in full "shortly after" confirmation.  The
Company's plan would pay unsecured creditors over five years, with
4% interest.

The Company opposes allowing a third plan, saying there would be
"chaos."

                       About Meruelo Maddux

Meruelo Maddux and its affiliates filed for Chapter 11 protection
on March 26, 2009 (Bankr. C. D. Calif. Lead Case No. 09-13356).
Aaron De Leest, Esq., John J. Bingham, Jr., Esq., and John N.
Tedford, Esq., at Danning Gill Diamond & Kollitz, represent the
Debtors in their restructuring efforts.  Asa S. Hami, Esq., Tamar
Kouyoumjian, Esq., and Victor A. Sahn, Esq., at SulmeyerKupetz, A
Prof Corp, represent the official committee of unsecured creditors
as counsel.  The Debtors' financial condition as of December 31,
2008, showed $681,769,000 in assets and $342,022,000 of debts.


MESA OFFSHORE: Experiences Delay in Final Liquidating Distribution
------------------------------------------------------------------
Mesa Offshore Trust disclosed that certain unitholders of the
Trust have made a demand for arbitration under the Final
Settlement Agreement dated May 19, 2009.  As a result of the
Demand for Arbitration and potential expenses and related
contingencies associated with the Demand for Arbitration and the
resolution thereof, the Trustee has decided to withhold current
funds held by the Trust as a reserve for these contingent expenses
and to defer making any final liquidating distribution at this
time.

The claimants contend that Pioneer should have sold and accepted
an offer from some of the claimant's to buy an inchoate overriding
royalty interest in Brazos A-39, which constituted part of the
Pioneer settlement interests and the interest of the Mesa Offshore
Trust Partnership.  The offer made for this interest was $125,000,
which would represent approximately $0.0017 per unit.  Such
claimants did not offer to buy the interest in the public auction
of this and other interests held in accordance with the Settlement
Agreement.  The Settlement Agreement set forth that if the public
auction did not result in a sale of the properties, "Pioneer will
have the absolute right, in its sole discretion, to cancel,
extinguish, or otherwise dispose of all or part of such
interests."  The Trustee has been informed by Pioneer that the
Brazos A-39 lease reverted to the Mineral Management Service in
early March 2010, 180 days after the Midway Well ceased production
back in September 2009.  In addition, as previously announced, the
Mesa Offshore Royalty Trust Partnership was dissolved in June
2010.

The Trustee will continue to act as Trustee and exercise its
powers for the purpose of liquidating and winding up the affairs
of the Trust at its termination until its duties have been fully
performed and the Trust estate is finally distributed.  In
accordance with the Trust Indenture, the Trustee will as promptly
as possible distribute the remaining assets in the Trust estate
(including settlement proceeds), after paying, satisfying and
discharging all of the liabilities of the Trust, or, when
necessary, setting up reserves in such amounts as the Trustee in
its discretion deems appropriate for contingent liabilities.

As previously announced as part of the liquidation and termination
of the Trust, the Trustee set February 22, 2010 as the record date
for unit holders entitled to payments of any final liquidating
distributions.  Accordingly, the Trustee will make payment of any
final liquidating distribution only to unitholders of record as of
February 22, 2010.


MOLL INDUSTRIES: Proofs of Claim Due by August 19
-------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware entered an
order on July 12, 2010, directing that creditors holding claims
against Moll Industries, Inc., Moll Holdings, Inc., Moll Europe
Holdings, LLC, or Moll Latin America Holdings, LLC, that arose
prior to April 27, 2010, must file their proofs of claim on or
before 5:00 p.m. (prevailing Eastern Time), on Aug. 19, 2010.
Claim forms should be delivered to Delaware Claims Agency, LLC.
Copies of the Bar Date Order and the Debtors' Schedules of Assets
and Liabilities are available free of charge at:

   http://delawareclaimsagency.com/caseinfo/C10-11371.html

Moll Industries, Inc., based in Dallas, Texas, manufactures
injection molded components for appliance makers.  It emerged from
Chapter 11 in 2003 after being the target of an involuntary
petition in 2002.  The Company filed for Chapter 11 bankruptcy
protection a second time (Bankr. D. Del. Case No. 10-11371) on
April 27, 2010.  William A. Hazeltine, Esq., at Sullivan Hazeltine
Allinson LLC, represents the Company in its restructuring, and a
creditors' committee is represented by Mark L. Desgrosseilliers at
Womble, Carlyle, Sandridge & Rice, PLLC.

A hearing to consider the sale of substantially all of the
company's assets is currently scheduled for Aug. 15, 2010.


NEC HOLDINGS: Court Approves Auction for August 20
--------------------------------------------------
Bill Rochelle at Bloomberg News reports that National Envelope
Corp. received approval to hold an auction on Aug. 20 to learn
whether the $134.5 million opening bid from Gores Group LLC is the
best offer for the business.  For parties to participate in the
auction, they must submit initial bids by August 16.  The hearing
for approval of the sale will be Aug. 23.

According to the report, competitor Cenveo Corp. unsuccessfully
opposed giving Gores a breakup fee if it's outbid at auction.
Cenveo promises to bid more at the auction.

             About National Envelope Corporation

Uniondale, New York-based National Envelope Corporation --
http://www.nationalenvelope.com/-- is the largest manufacturer of
envelopes in the world with 14 manufacturing facilities and 2
distribution centers and approximately 3,500 employees in the U.S.
and Canada.  The company is an environmental leader in the paper
and envelope converting industries with certifications from the
Forest Stewardship Council (FSC), Rainforest Alliance, Sustainable
Forestry Initiative (SFI), Programme for the Endorsement of Forest
Certification (PEFC), Chlorine Free Products Association, and
Green Seal.

NEC Holdings Corp., together with affiliates, including National
Envelope Inc., filed for Chapter 11 on June 10, 2010 (Bankr. D.
Del. Lead Case No. 10-11890).  Kara Hammond Coyle, Esq., at Young
Conaway Stargatt & Taylor LLP, serves as bankruptcy counsel.
David S. Heller, Esq., at Josef S. Athanas, Esq., and Stephen R.
Tetro II, Esq., at Latham & Watkins LLP, serve as co-counsel.  The
Garden City Group is the claims and notice agent.

NEC Holdings' petition says assets and debts range from
$100,000,001 to $500,000,000.


NEW YORK TIMES: S&P Raises Corporate Rating to 'B+' From 'B'
------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit and
senior unsecured debt ratings for New York City-based The New York
Times Co. to 'B+' from 'B'.  These ratings were removed from
CreditWatch, where they were placed April 22, 2010.  The rating
outlook is stable.

S&P's recovery rating on the company's senior unsecured debt
remains at '4', indicating S&P's expectation of average (30% to
50%) recovery for debtholders in the event of a payment default.

"The ratings upgrade reflects the significant current and expected
moderation in the pace of ad revenue declines in 2010 and
meaningful improvements in the company's EBITDA and discretionary
cash flow," said Standard & Poor's credit analyst Emile Courtney.
"S&P expects The New York Times to sustain S&P's measures of
adjusted leverage at between 4x and 5x and EBITDA coverage of
interest at above 3x, which are in line with S&P's 'B+' rating on
the company."

Ad revenue declined less than 1% in the June 2010 quarter
(including online ad revenue), compared to a 6% decline in the
March 2010 quarter, a 15% decline in the December 2009 quarter,
and a 30% decline in the June 2009 quarter.  As a result, the
company reported a total revenue increase of 1% in the June 2010
quarter (circulation revenue is about 40% of total revenue and it
increased 3.2% during the quarter and offset the modest ad revenue
decline).

As a result of decelerating ad revenue declines and significant
cost cutting from which the company's profitability continues to
benefit, in the first half of 2010 EBITDA increased more than
threefold, to $174 million (including severance expenses), and S&P
estimates that discretionary cash flow was more than $100 million
during the period.  This has enabled the company to make
$88 million in voluntary contributions to its pension fund, which
resulted in a moderate reduction in S&P's estimate of the total
underfunded status of the plan (S&P's tax-impacted adjustment to
debt at the end of 2009 due to the underfunded status of the
company's pension plan was $595 million).  Total lease-adjusted
debt to EBITDA has improved to about 4x at June 2010 from 7.2x at
June 2009, due to the EBITDA increase and about $240 million in
funded debt reduction from discretionary cash flow and the
aforementioned reduction to pension debt.  EBITDA coverage of
interest expense was in the low-3x area at June 2010.

Notwithstanding slowing ad revenue declines, the 'B+' rating
reflects long-term business risks related to S&P's expectation for
continued rates of secular decline in print advertising revenue.
S&P believes there remains significant uncertainty regarding
whether current moderating revenue trends are sustainable into
2011; however, S&P believes the U.S. economy will continue its
recovery, and forecast 3.1% growth in 2010 and 2.7% in 2011.
Partially offsetting these business risks are improved credit
measures and discretionary cash flow generation over the last 12
months.


NEWPAGE CORP: Anticipates Refinancing Debt Prior to 2012
--------------------------------------------------------
Dow Jones Daily Bankruptcy Review reports that a refinancing and
credit facility amendment last fall bought NewPage Corp. some time
to navigate the weak economy, but many analysts believe the
privately held paper company may seek a debt exchange next year to
manage hefty 2012 debt.

The Company also acknowledged this in a recent regulatory filing.

In September 2009, NewPage amended the senior secured credit
facilities to suspend the requirements to comply with certain
covenants and to increase its operating and financial flexibility.
The revolving credit facility also was amended to require the
maintenance of at least $50 million of borrowing availability
under the revolving credit facility through the date of the
delivery of the compliance certificate with respect to the fiscal
quarter ending March 31, 2011, and to limit its ability to make
capital expenditures.

On September 30, 2009, the term loan was repaid in full with
$1.598 billion of proceeds from the offering of $1.70 billion of
11.375% senior secured notes due 2014, Series A, and $5 million of
borrowings under its revolving credit facility.

In January 2010, NewPage amended its revolving credit facility to
permit the incurrence of additional first-lien debt, among others.
In February 2010, NewPage issued an additional $70 million in
aggregate principal amount of 11.375% senior secured notes due
2014 in a private placement that have substantially the same terms
as the existing $1.7 billion 11.375% first-lien senior secured
notes.

According to a regulatory filing on July 14, NewPage said
aggregate indebtedness as of March 31, 2010 totaled
$3.150 billion.  Newpage said it expects an increase in interest
expense over prior year periods because the Notes have a higher
interest rate than the term loan that was repaid.

According to the Company, beginning in 2012, NewPage's debt
service requirements will substantially increase as a result of
scheduled payments of our indebtedness.

"We anticipate that we will seek to refinance our indebtedness
prior to that time or retire portions of indebtedness with
issuances of equity securities, proceeds from the sale of assets
or cash generated from operations.  Our ability to operate our
business, service our debt requirements and reduce our total debt
will depend upon our future operating performance, which will be
affected by prevailing economic conditions and financial, business
and other factors, many of which are beyond our control, as well
as the availability of revolving credit borrowings and other
borrowings to refinance our existing indebtedness," the Company
said.

                     About NewPage Corporation

Headquartered in Miamisburg, Ohio, NewPage Corporation --
http://www.NewPageCorp.com/is the largest coated paper
manufacturer in North America, based on production capacity, with
$3.1 billion in net sales for the year ended December 31, 2009.
The company's product portfolio is the broadest in North America
and includes coated freesheet, coated groundwood, supercalendered,
newsprint and specialty papers.  These papers are used for
corporate collateral, commercial printing, magazines, catalogs,
books, coupons, inserts, newspapers, packaging applications and
direct mail advertising.

NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan,
Minnesota, Wisconsin and Nova Scotia, Canada. These mills have a
total annual production capacity of approximately 4.4 million tons
of paper, including approximately 3.2 million tons of coated
paper, approximately 1.0 million tons of uncoated paper and
approximately 200,000 tons of specialty paper.

NewPage Corp. reported $4.0 billion in total assets,
$468.0 million, $3.0 billion in long term debt, and $493.0 in
long-term obligations resulting to a $14.0 million stockholders'
equity as of Dec. 31, 2009.

                           *     *     *

As reported by the Troubled Company Reporter on October 7, 2009,
Standard & Poor's Ratings Services raised its corporate credit
rating on NewPage Corp. to 'CCC+' from 'SD' (selective default).
The outlook is negative.

S&P raised the issue-level rating on the company's second-lien
floating- and fixed-rate notes due 2012 to 'CCC-' (two notches
below the corporate credit rating) from 'D'.  The recovery rating
on these notes remains at '6', indicating S&P's expectation of
negligible (0% to 10%) recovery in the event of a payment default.

S&P also raised the issue-level rating on the company's
subordinated notes to 'CCC-' from 'CC'.   The recovery rating is
unchanged at '6', indicating S&P's expectation of negligible (0%
to 10%) recovery in the event of a payment default.


NEXITY FINANCIAL: Files Prepack Case in Delaware
------------------------------------------------
Nexity Financial Corp. filed for Chapter 11 on July 22 in
Wilmington, Delaware (Bakr. D. Del. Case No. 10-12293).

According to Bloomberg, Nexity Financial already has a plan that
was already accepted by holders of 96 percent of the $22 million
in trust preferred securities who voted on the plan.  Secured
creditor Bank of America, owed $14.2 million, has also accepted
the plan.

Bill Rochelle at Bloomberg News reports that the Plan will pay 15%
in cash to holders of the trust preferred securities, unless they
elect to take new stock instead. Bank of America is to receive
$3.82 million unless it too elects stock instead.  The plan is to
be financed by the sale of at least $175 million in new stock
through a private placement.

Nexity is aiming for confirmation at a combined hearing on the
explanatory disclosure statement and the Plan at a hearing on
Aug. 27.

Lauren B. Cooper at Business Journal of Birmingham reports that
the filing came when creditors on 12% of its $36 million debt did
not agree to settle with the Company despite restructuring the
remaining percent of that debt.

The Company listed assets of between $10 million and $50 million.

Nexity Financial Corp. -- http://www.nexitybank.com/-- claims to
be a leading provider of capital and support services for
community banks.  Its bank subsidiary, Nexity Bank, is operating
under a cease and desist order issued by regulators.  Birmingham,
Alabama-based Nexity had net losses of $26 million in 2009 and $13
million in 2008.


NICOLAS MARSCH: U.S. Trustee Directed to Appoint Ch. 11 Trustee
---------------------------------------------------------------
The Hon. Peter W. Bowie of the U.S. Bankruptcy Court for the
Southern District of California directed the U.S. Trustee for
Region 15 to identify and select a Chapter 11 trustee in each of
the cases of Nicolas Marsch III, and Briarwood Capital, LLC.

KBR Group sought for the trustee appointment.

Rancho Santa Fe, California-based Nicolas Marsch, III, filed for
Chapter 11 bankruptcy protection on February 25, 2010 (Bankr. S.D.
Calif. Case No. 10-02939).  Jeffry A. Davis, Esq., at Mintz Levin
Cohn Ferris Glovsky & Popeo, represents the Debtor in its
restructuring effort.  The Debtor listed $100,000,001 to
$500,000,000 in assets and $10,000,001 to $50,000,000 in
liabilities.


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 94.57
cents-on-the-dollar during the week ended Friday, July 23, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.45
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 loan is
one of the biggest gainers and losers among 194 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.


OMAR YEHIA SPAHI: Files Schedules of Assets and Liabilities
-----------------------------------------------------------
Omar Yehia Spahi filed with the U.S. Bankruptcy Court for the
Central District of California its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $25,733,236
  B. Personal Property              $205,560
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $18,726,916
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $199,473
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                          $544,874
                                 -----------      -----------
        TOTAL                    $25,938,796      $19,471,263

Santa Monica, California-based Omar Yehia Spahi filed for Chapter
11 on December 4, 2009 (Bankr. C.D. Calif. Case No. 09-44294).
Michael Jay Berger, Esq., represents the Debtor in its
restructuring effort.  The Law Offices of Michael Jay Berger
assists the Debtor in its restructuring effort.  In its petition,
the Debtor listed assets and debts both ranging from $10,000,001
to $50,000,000.


ORANGE COUNTY: Cash Collateral Hearing Continued to July 28
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
has continued until July 28, 2010, at 10:00 a.m. on Orange County
Motorsports, Inc.'s cash collateral use.

The Court authorized, on an interim basis, the Debtor to access
cash collateral in which GE Commercial Distribution Finance
Corporation and Polaris Acceptance claim an interest; and to grant
adequate protection to the lenders.

American Honda Finance, Corporation, a California corporation, has
objected to the Debtor's further use by the Debtor of the cash
collateral.

AHFC is a secured creditor of the Debtor, with a "blanket"
security interest in all tangible and intangible property of the
Debtor.  That security interest includes a first-priority
"purchase money" security interest in the motor vehicles in the
Debtor's inventory for which AHFC provided "floor plan" financing,
and the proceeds thereof.  AHFC possesses a very junior security
interest -- behind those of GE, Polaris and Kawasaki, which secure
debts that are believed to total over $1 million.

According to AHFC, the recent deal approved by the Court, by which
the Denver location would be sold for approximately $400,000,
would have yielded no money at all to AHFC.

AHFC believes that the Debtor has ceased operations at its Denver
location, and is arranging for AHFC to take possession of the
inventory that it financed for the Debtor.  According to AHFC,
operations at the Auburn location are believed to be marginal at
best.

AHFC claims that when its cash collateral is used, it isn't
adequately protected.  According to AHFC, the Debtor hasn't made
monthly cash payments; the Denver location is closed and the
Auburn location is losing money; and the Debtor overall is losing
money, so it cannot supply replacement liens.

AHFC is represented by Parker, Milliken, Clark, O'Hara &
Samuelian, A Professional Corporation.

Los Angeles, California-based Orange County Motorsports, Inc.,
filed for Chapter 11 bankruptcy protection on December 18, 2009
(Bankr. C.D. Calif. Case No. 09-45902).  The Debtor's affiliate,
Lawrence Hart also filed Chapter 11 bankruptcy petition.  Michael
S. Kogan, Esq., at Ervin Cohen & Jessup LLP, assists the Debtor 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.


ORANGE COUNTY: Court Extends Lease Pact Assumption/Rejection
------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
extended, at the behest of Orange County Motorsports, Inc., and
Lawrence Hart dba LA Cycles and/or LA Yamaha, the last date to
assume or reject unexpired lease for unresidential real property
until July 31, 2010.

The affected leases are those with:

     a. OCMI - and (1) Dry Creek/Highway 49, LLC (Dry Creek) for
        property located at 1905 Dry Creek Road, Auburn,
        California 95603 (the Auburn Lease), and (2) Spirit Master
        Funding IV, LLC, for property located at 7010-7036 East
        Colfax Avenue and 6950 East Colfax Avenue, Denver,
        Colorado 80220 (the Denver Lease); and

     b. Hart - and (3) Snow Properties for the property located at
        1901 East Edinger Avenue, Santa Ana, CA 92705 (the Santa
        Ana Lease) (collectively, each of the landlords stated
        Herein will be collectively referred to as the Landlords)
         (collectively, each of the leases stated herein will be
        collectively referred to as the Leases).

The Debtors' notion with respect to the Dry Creek Landlord is
granted, and as long as the Debtor makes a payment to the Dry
Creek Landlord of $17,500 by no later than July 6, 2010, the time
to assume or reject is extended to July 31, 2010.  In the event
payment is not timely made the Dry Creek Lease will be deemed
rejected.  The Debtors' motion is withdrawn with respect to the
Spirit Funding and Snow Leases, as they are the subject of
previous orders entered by the Court.

Los Angeles, California-based Orange County Motorsports, Inc.,
filed for Chapter 11 bankruptcy protection on December 18, 2009
(Bankr. C.D. Calif. Case No. 09-45902).  The Debtor's affiliate,
Lawrence Hart also filed Chapter 11 bankruptcy petition.  Michael
S. Kogan, Esq., at Ervin Cohen & Jessup LLP, assists the Debtor 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.


ORANGE COUNTY: Gets OK to Sell Los Angeles, Orange County Assets
----------------------------------------------------------------
Orange County Motorsports, Inc., and Lawrence Hart dba LA Cycles
and/or LA Yamaha, sought and obtained authorization from the U.S.
Bankruptcy Court for the Central District of California to sell
the assets of the Debtor's Los Angeles and Orange County locations
for $900,000, free and clear of all liens, claims and interests to
Motorini, Inc., dba Vespa of Los Angeles, or its assignee (the
Buyer) pursuant to the Asset Purchase Agreement (the APA) entered
into between the Buyer and the Debtor.

The sale of the floored Assumed Vehicle Inventory located at the
Dealership Premises on the Closing Date, will be at a price agreed
between Buyer and the respective floor plan lender, paid directly
by Buyer to the respective floor plan lender on the Closing Date.

The Debtor is authorized to Close the transaction with the Buyer
with the consent of its vehicle manufacturers, including Honda
Motor Company., Inc.; Suzuki Motor Corporation; Polaris
Industries, Inc.; Triumph Motorcycles (American), Ltd.;  Yamaha
Motor Corporation, U.S.A. and their respective affiliates with
respect to the assignment of its dealer franchise agreements.

The liens, security interests, claims, charges or encumbrances,
other than liabilities expressly assumed by the Buyer, will attach
to the amounts payable to the Debtors resulting from the Sale (the
Sale Proceeds), and held by the Debtors, in the same order of
priority and subject to the rights, claims, defenses, and
objections, if any, of all parties with respect thereto, subject
to any further order of the Court in a separate segregated
account.  The undisputed amounts will be distributed by the
Debtors within 30 days after the Close of the Sale.  To the extent
any lien amounts are disputed, the Debtors will set aside the
disputed amounts until the matter can be resolved either
consensually or through judicial intervention.

                     Amendments to the APA

On July 20, 2010, the Debtors sought court approval for the minor
amendments made to the APA.  According to the Debtors, the
amendments don't change the purchase price or value of the sale,
and instead facilitate and expedite the sale as contemplated by
the APA.

Two sets of amendments to the APA were negotiated between the
Debtors and the Buyer.  The amendment to the APA, entered into
between the Debtors and the Buyer on July 19, 2010, amends and
clarifies the APA with regard to its website assets being
purchased by the Buyer from the Debtors.  The second set of
amendments to the APA, negotiated between the Debtors and the
Buyer, bifurcates the purchased assets into two groups and allows
the Closing and transfer of each location independent of the
other: (i) the assets to be sold at the LA Cyclesports Closing for
$600,000, and (ii) the assets to be sold at the LA Yamaha Closing
for $300,000.  The combined total proceeds to the Debtors from the
LA Ccyclesports Closing and the LA Yamaha Closing is still
$900,000.

Under the amended APA, the Buyer will purchase the LA Cyclesports
Assets in the event that Honda and Suzuki approve the issuance to
the Buyer of Dealership Sales and Service Agreements that permit
the Buyer to operate a Honda and a Suzuki dealership at the
current location of the LA Cyclesports Dealership, or elsewhere.
The purchase of the LA Cyclesports Assets is no longer contingent
upon the approval of any manufacturer other than Honda and Suzuki.

The Buyer will also purchase the LA Yamaha Assets in the event
that Yamaha issues to the Buyer a Dealership Sales and Service
Agreement that permits the Buyer to operate a Yamaha dealership at
the current location of the LA Yamaha Dealership, or elsewhere.
The purchase of the LA Yamaha Assets is no longer contingent upon
the approval of any manufacturer other than Yamaha.

The amended APA also makes explicit the allocation of the proceeds
of the Going Out of Business Sale, which resulted in sales
proceeds of $56,714 and costs of $5,000.  Unsold inventory is
being returned to the manufacturer or distributor thereof for an
estimated return of $79,674.  The LA Cyclesports closing, $17,200
of the Going Out of Business Sale proceeds and $39,837 of the
refund proceeds will be deducted from the LA Cyclesports Purchase
Price, and at the LA Yamaha Closing $8,600 of the Going Out of
Business Sale proceeds will be deducted from the LA Yamaha
Purchase Price, because those amounts are the Buyer's share of the
Going Out of Business Sale proceeds as set forth in the APA.

A copy of the original APA and the amendment to the APA is
available for free at:

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

                         About Orange County

Los Angeles, California-based Orange County Motorsports, Inc.,
filed for Chapter 11 bankruptcy protection on December 18, 2009
(Bankr. C.D. Calif. Case No. 09-45902).  The Debtor's affiliate,
Lawrence Hart also filed Chapter 11 bankruptcy petition.  Michael
S. Kogan, Esq., at Ervin Cohen & Jessup LLP, assists the Debtor 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.


OTC INTERNATIONAL: Has Until Sept. 30 to Close Chapter 11 Case
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
extended Marianne T. O'Toole, the Court appointed plan
administrator's time to close OTC International, Ltd.'s case to
September 30, 2010.

Long Island City, New York, OTC International, Ltd. --
http://www.otcinternational.com/-- manufactures jewelry and
precious metal, specializing in diamonds, gold, silver, gemstones,
cameos, and watches.  The Company filed for Chapter 11 protection
on April 3, 2008 (Bankr. S.D.N.Y. Case No. 08-11181.)

Ian R. Winters, Esq., and Patrick J. Orr, Esq., at Klestadt &
Winters LLP, represent the Debtor in its restructuring efforts.
The Debtor selected The Garden City Group Inc. as claims and
noticing agent.  The U.S. Trustee for Region 2 appointed creditors
to serve on an Official Committee of Unsecured Creditors.
Silverman Perlstein & Acampora LLP represents the Committee as
its counsel in this case.  Howard Fielstein, CPA, a member of
Margolin Winer & Evens LLP, will serve as Chapter 11 examiner of
the Debtor's case.

The Debtor's summary of schedules listed total assets of
$16,362,907 and total debts of $74,024,680.  All assets are listed
at net book value excluding metal inventory on consignment of
$29,261,970.


OWENS CORNING: Delaware Submits Q1 2010 Summary Report
------------------------------------------------------
Mark W. Mayer, vice president and chief accounting officer of
Owens Corning Delaware, submitted to the Office of the U.S.
Trustee a post-confirmation summary report for the quarter ended
March 31, 2010.

                     Owens Corning Delaware
                        Case No. 00-3837
                    Post-Confirmation Report
                For Quarter Ended March 31, 2010

Cash, beginning of period                         $11,746,000

Total receipts received by Debtor:
Cash sales                                                 0
Accounts receivable                           $1,012,799,000
Proceeds from litigation                                   0
Sale of Debtor's assets                                    0
Capital infusion under Plan                                0
                                              ---------------
Total cash received                            1,012,799,000
                                              ---------------
Total cash available                            1,001,052,000

Less disbursement made by Debtor:
Disbursements made under Plan                              0
Disbursement made for administrative claims          692,000
Other disbursements                              966,663,000
                                              ---------------
Total disbursements                              967,355,000
                                              ---------------
Cash, at end of period                            $33,698,000
                                              ===============

The Chapter 11 cases of the other Owens Corning affiliates have
been closed, Case Nos. 00-3838 through 00-3854.

                      About Owens Corning

Headquartered in Toledo, Ohio, Owens Corning fka Owens Corning
(Reorganized) Inc. (NYSE: OC) -- http://www.owenscorning.com/--
is a producer of residential and commercial building materials and
glass fiber reinforcements, and other similar materials for
composite systems.  The company has operations in 26 countries.

The Company filed for Chapter 11 protection on October 5, 2000
(Bankr. D. Del. Case. No. 00-03837).  Norman L. Pernick, Esq., at
Saul Ewing LLP, represented the Debtors.  Elihu Inselbuch, Esq.,
at Caplin & Drysdale, Chartered, represented the Official
Committee of Asbestos Creditors.  James J. McMonagle served as the
Legal Representative for Future Claimants until June 20, 2007.
Mr. McMonagle was replaced by Michael J. Crames.  Mr. Crames
served as Mr. McMonagle's counsel until July 2005, when he retired
from the law firm Kaye Scholer LLP.

On September 28, 2006, the Honorable John P. Fullam, Sr., of the
U.S. District Court for the Eastern District of Pennsylvania
affirmed the order of Honorable Judith Fitzgerald of the U.S.
Bankruptcy Court for the District of Delaware confirming Owens
Corning's Sixth Amended Plan of Reorganization.  The Plan took
effect on October 31, 2006, marking the company's emergence from
Chapter 11.

Reorganized Owens sought on July 25, 2008, from the Delaware
Bankruptcy Court a final decree closing the Chapter 11 cases of 17
of its affiliates.  Only the Chapter 11 case of Owens Corning
Sales, LLC, formerly known as Owens Corning, under Case No.
00-03837 will remain open.

(Owens Corning Bankruptcy News; Bankruptcy Creditors' Service
Inc.; http://bankrupt.com/newsstand/or 215/945-7000)

                          *     *     *

Reorganized Owens Corning carries a 'Ba1' corporate family rating
from Moody's.


PACIFIC AVENUE: Files for Bankruptcy to Avert Foreclosure
---------------------------------------------------------
Pacific Avenue LLC and an affiliate filed Chapter 11
Petitions July 22 (Bankr. W.D. N.C. Case No. 10-32093).

The Debtors owe $87.1 million to the secured lender Regions Bank.

According to Bloomberg, financial problems result in part from the
bankruptcy of the developer that was to construct residential
housing using air rights on the project.

Afshin Ghazi commenced bankruptcy proceedings after Regions Bank
commenced a foreclosure proceeding against his companies.  Pacific
Avenue said it expects to come up with a viable plan and
reorganized debt, structured for long term success, according to
wsoctv.com.

Pacific Avenue LLC and Pacific Avenue II LLC are the companies
established by Afshin Ghazi to develop the EpiCentre entertainment
and retail center in Charlotte, North Carolina.

Birmingham Business Journal reported that Regions Bank launched
foreclosure proceedings against those affiliates after the
Companies "failed to make timely payments of the debt upon
maturity of the note."  The Companies borrowed $90 million against
the property.  The bank says in court documents that $87.8 million
is owed on that loan, plus an additional $6.1 million tied to a
swap transaction.  The loan matured on May 5, and Regions says a
payment hasn't been made since December.  The EpiCentre's
companies filed a lawsuit against Regions on Tuesday over the loan
agreement.


PACIFICA MESA: Sues Junior Lenders for Driving Firm to Bankruptcy
-----------------------------------------------------------------
Jacqueline Palank at Dow Jones Daily Bankruptcy Review reports
that Pacifica Mesa Studios LLC, the parent of Albuquerque Studios,
sued junior lenders led by Workers Realty Trust II LP on Wednesday
in bankruptcy court, accusing them of assuming control of the
studio, which they then exercised to the studio's detriment.

"The lender defendants' conduct and control over the business of
PMS created an atmosphere which led the . . . executives to
believe that the lender defendants were their `true bosses' and
that any activity conducted by PMS was subject [to] the lender
defendants' approval, even if such activity was adverse to PMS
interests," Pacifica Mesa Studios said.

According to Ms. Palank, the studio says that between 2007 and
early 2010, the executives solicited the business of the studio's
important clients on behalf of competitors (located both in the
U.S. and abroad) for their own personal profit.  They also
allegedly disclosed and used the studio's confidential
information, falsely represented that they were working on the
studio's behalf, used studio resources -- including employees --
for these projects, charged the studio for bogus expenses and
demanded kickbacks from the studio's vendors.  Ms. Palank notes
the executives, who were terminated or resigned earlier this year,
face a lawsuit based upon these allegations in Los Angeles County
Superior Court.

According to Ms. Palank, Joseph Golden, Esq., who is representing
Nick Smerigan and Jeremy Hariton, said Friday that the allegations
are untrue and have "no factual basis."  An attorney for Jason
Hariton wasn't available to comment.  Attorneys representing
Workers Realty Trust didn't respond to requests for comment
Thursday and Friday.

Ms. Palank relates Mr. Smerigan and Jeremy Hariton have countered
with lawsuits of their own, accusing the studio of making
slanderous statements with the aim of sullying their reputations
and in an attempt to shift the blame for the studio's "very
significant financial problems" to them.

The report notes Pacifica Mesa Studios says the executives, and
the lenders' alleged aiding and abetting of them, damaged the
studio in excess of $1 million.  The company also defaulted on
$75.3 million in senior loans and $16.2 million in junior loans.
According to Pacifica Mesa, the defaults spurred the junior
lenders to seek to foreclose upon the membership interests in
Pacifica Mesa.

Pacifica Mesa Studios LLC filed for bankruptcy protection in
San Fernando Valley, California (Bankr. C.D. Calif. Case No.
10-18827).  Agoura Hills, California-based Pacifica Mesa is the
parent company of the New Mexico complex where the movies "The
Book of Eli" and "Terminator Salvation" were filmed.  The Chapter
11 petition listed assets of $57.7 million and debt of $104.5
million. Pacifica Mesa holds the title to Albuquerque Studios, a
28-acre site the company valued at $54 million in court papers.


PACIFICA MESA: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Pacifica Mesa Studios, LLC
          dba Albuquerque Studios
              ABQ Studios
        5236 Colodny Drive, Suite 101
        Agoura Hills, CA 91301

Bankruptcy Case No.: 10-18827

Chapter 11 Petition Date: July 20, 2010

Court: U.S. Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Geraldine Mund

Debtor's Counsel: Steven T. Gubner, Esq.
                  Ezra Brutzkus & Gubner
                  21650 Oxnard Street, Suite 500
                  Woodland Hills, CA 91436
                  Tel: (818) 827-9000
                  Fax: (818) 827-9099
                  E-mail: sgubner@ebg-law.com

Estimated Assets: $50,000,001 to $100,000,000

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

According to the schedules, the Company says that assets total
$57,730,151 while debts total $ 104,456,956.

The petition was signed by Hal Katersky, managing member.

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Longview Ultra I                   Debtor's real       $80,000,000
c/o Amalgamated Bank               property and $4
275 Seventh Avenue, 14th floor     million of personal
New York, NY 10001                 property

Workers Realty Trust II, LP        Second mortgage     $23,000,000
c/o New Vista                      on debtor's
fka Commonwealth Realty            real property
20 South Clark Street, Suite 3000
Chicago, IL 60603

New Mexico Lighting & Grip Co.     Other bill             $380,136
File#50846
Los Angeles, CA
90074-0846

Bernalillo County                  Property Tax           $355,095
P.O. Box 269
Albuquerque, NM 87103

Mesa del Sol                       Lawsuit                $140,000

JLS Security                       Other bill              $33,071

Travelers CL Remittance Ctr        Other bill              $30,400

Mario's Catering, Inc              Other bill              $30,140

New Mexico Educators Fed           2009 Ford F-150         $26,944
Cred Union                         truck

New Mexico Educators Fed           2008 Ford Explorer      $25,160
Cred Union

Pulakos & Alongi, Ltd              other bill              $20,845

Millennium Maintenance Systems     Other bill              $12,066

New Mexico Taxation and Revenue    State taxes             $11,068

Producers Guild of America         Other bill              $10,000

White Zuckerman Warsavsky et al.   Other bill               $7,608

Yearout Mechanical, Inc            Other bill               $7,243

Xerox Corporation                  Other bill               $6,339

CMR Risk & Insurance Svcs Inc      Other bill               $5,684

Gipson Hoffman & Pancione          Other bill               $5,279

Ballantines                        Other bill               $4,500


PENN NATIONAL: Bank Debt Trades at 3% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Penn National
Gaming, Inc., is a borrower traded in the secondary market at
96.70 cents-on-the-dollar during the week ended Friday, July 23,
2010, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  This represents an increase
of 0.64 percentage points from the previous week, The Journal
relates.  The loan matures on May 26, 2012.  The Company pays 200
basis points above LIBOR to borrow under the facility.  The bank
debt carries Moody's Ba2 rating and Standard & Poor's BB + rating.
The loan is one of the biggest gainers and losers among 194 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

On Oct. 6, 2009, Moody's Investors Service stated that Penn
National's recent statement that it is "looking at" the
Fontainebleau project in Las Vegas currently has no impact on its
ratings or negative outlook.  The last rating action on Penn
National was Aug. 10, 2009, when Moody's assigned a B1 rating to
the company's proposed $250 million senior subordinated notes due
2019 and affirmed its other ratings.

As reported in the Troubled Company Reporter on Aug. 12, 2009,
Moody's Investors Service assigned a B1 rating to Penn National
Gaming, Inc.'s proposed $250 million senior subordinated notes due
2019.  The company's Ba2 Corporate Family Rating, Ba2 Probability
of Default Rating, Ba2 senior secured bank loan rating, and B1
senior subordinated note rating were affirmed.  The rating outlook
is negative.

On Aug. 11, 2009, the TCR reported that Standard & Poor's Ratings
Services assigned its issue-level and recovery ratings to
Wyomissing, Pennsylvania-based Penn National Gaming, Inc.'s
proposed $250 million senior subordinated notes due 2019.  S&P
rated the notes 'BB-' (at the same level as the corporate credit
rating on the company) with a recovery rating of '4', indicating
its expectation of average (30%-50%) recovery for noteholders in
the event of a payment default.  Proceeds from the proposed notes,
along with cash on hand or draws under the revolving credit
facility, will be used to repay a portion of the term loan A bank
facility and to repurchase outstanding 6.875% senior subordinated
notes pursuant to a recently announced cash tender offer.

At the same time, S&P affirmed its issue-level rating on Penn
National's outstanding senior subordinated notes at 'BB-' (the
same as the corporate credit rating).  The recovery rating on
these loans remains at '4', indicating its expectation of average
(30%-50%) recovery for noteholders in the event of a payment
default.  S&P also affirmed its issue-level rating on the
company's senior secured credit facilities at 'BB+' (two notches
higher than the 'BB-' corporate credit rating).  The recovery
rating on these loans remains at '1', indicating its expectation
of very high (90%-100%) recovery for lenders in the event of a
payment default.

Penn National Gaming, Inc., owns and operates nineteen gaming and
racing facilities in fourteen U.S. and one Canadian jurisdiction.
The company generates about $2.4 billion of annual net revenues.


PERMALIFE PRODUCTS: Automatic Stay Dispute Will Be Heard in N.J.
----------------------------------------------------------------
WestLaw reports that an adversary proceeding brought by a Chapter
11 debtor to set aside and recover for violations of the automatic
stay allegedly occurring, both when a landlord that had entered
into a commercial lease with the debtor's affiliate exercised a
self-help remedy under Arizona law by selling equipment that
allegedly belonged to the debtor to satisfy a rent default of the
affiliate, and when a third party purchaser, having acquired the
equipment for a fraction of its fair market value, resold it at
substantial profit with alleged knowledge of the debtor's
bankruptcy filing, was not a proceeding that arose out of
"operation of the debtor's business" postpetition.  Rather, it was
intimately bound up with matters of administration of the
bankruptcy case.  Thus, venue of the proceeding properly lay in
the home court where the debtor's Chapter 11 case was pending.  In
re PermaLife Products, LLC, --- B.R. ----, 2010 WL 2696780 (Bankr.
D. N.J.) (Stern, J.).

Permalife Products LLC -- http://www.permalife.com/--
manufactures rubber mulch used to cover playgrounds and make
sports fields softer.  PermaLife and three affiliates sought
Chapter 11 protection (Bankr. D. N.J. Case Nos. 09-11482, 09-
11489, 09-11496 and 09-11500) after a fire at one of its recycling
facilities in Arizona led to a default in October 2008 on a
$5 million credit line with JPMorgan Chase Bank.  PermaLife is
represented by Jay L. Lubetkin, Esq., and Laura E. Quinn, Esq., at
Rabinowitz Lubetkin & Tully, L.L.C., in Livingston, N.J.
PermaLife disclosed $2.7 million in assets and $21.1 million in
debt at the time of the filing.


PHILADELPHIA NEWSPAPERS: Pension Funds Agree to Release Docs
------------------------------------------------------------
The Teamsters Pension Trust Fund of Philadelphia & Vicinity, the
CWA/ITU Negotiated Pension Plan, the Warehouse Employees Local 169
And Employers' Joint Pension Fund, Warehouse Employees Local 16,
Graphic Communications Conference District Council 9 Local 16-N
International Brotherhood Of Teamsters, Newspaper And Magazine
Employees Union And Philadelphia Publishers Pension Fund,
Newspaper And Magazine Employees Union Teamsters Local 1414,
Teamsters Local 628, and the United Independent Union -- Newspaper
Guild of Greater Philadelphia Pension Fund, informed the
Bankruptcy Court that they do not quarrel with the rights of
Philadelphia Newspapers LLC and the lenders lined up to buy its
assets, to pursue reasonably tailored discovery relating to the
Pension Funds' administrative claims that will arise upon
consummation of the asset sale.  They, however, find the request
for documents "too aggressive" considering the scope and breadth
of certain of the document requests.

The Teamsters Fund and certain other of the Pension Funds intend
to submit a proposal to the Plan Proponents' counsel that will
provide for the production of responsive documents in an effort to
arrive at a consensual resolution of certain objectionable
discovery.  The Teamsters Fund, and possibly other Pension Funds,
would agree to produce, subject to certain reasonable limitations
on the scope of the discovery (and clarifications of certain
ambiguous terms), responsive documents that are responsive to 9 of
the 16 document requests within one week from the date of any
Order approving the Plan Proponents' discovery request.

The Pension Funds also said they take issue with the Plan
Proponents' representation suggesting that the Pension Funds are
pursuing administrative claims to "pursue an alternative strategy
to attempt to saddle the Purchaser with withdrawal liability."
Like all administrative claimants of these estates, including the
Debtors' professionals, the Pension Funds are simply seeking
compensation for services provided by the employees of the various
unions following the Petition Date.  Without the efforts of
hundreds of union employees, it is inconceivable how the Debtors
could have continued to operate post-petition.

As reported by the Troubled Company Reporter on July 12, 2010,
Chief Bankruptcy Judge Stephen Raslavich denied a request by
employee pension plans to put Philadelphia Newspapers'
reorganization on hold while the pension plans appeal the
bankruptcy plan in U.S. District Court.  The funds oppose the
reorganization because the new owners will be absolved of
responsibility for funding pension shortfalls.

Andrew Maykuth at The Philadelphia Inquirer said Judge Raslavich
said the pension plans, led by the Teamsters Union fund and
including other employee funds, had failed to make a strong case
that they would suffer irreparable harm if the reorganization were
completed.  The judge said the company faced a more immediate
threat of insolvency if the 17-month-old bankruptcy case were not
concluded by September.

                        Bankruptcy Plan

As reported by the Troubled Company Reporter on June 29, 2010,
Philadelphia Newspapers received bankruptcy court approval to
reorganize and sell its newspapers to a group of its lenders for
$139 million.  U.S. Bankruptcy Court Judge Stephen Raslavich
approved the reorganization plan in Philadelphia after overruling
objections from union pension funds.  "This is not the end of the
day," Judge Raslavich said in court, according to Bloomberg News.
"There are still union contracts to be negotiated and the sale to
be consummated."

The confirmation hearing for approval of the Chapter 11 of
Philadelphia Newspapers began on June 24.

As reported by the TCR on April 29, 2010, Philadelphia Newspapers
held an auction where, senior lenders' $139 million offer emerged
as the highest bid.  According to a report by the Philadelphia
Inquirer, the deal includes:

   $39.2 million in debt; and
   $69 million in cash equity, plus
   $30 million, as the estimated value for the purposes of the
       bankruptcy auction, of the Company's real estate

Dow Jones notes the Chapter 11 plan provides a slight recovery for
some lower classes of creditors, despite the fact that the senior
secured lenders, which fall ahead in the line to be paid, are owed
$318 million, far more than their $135 million offer will cover.
Certain holders of pre-bankruptcy mezzanine debt and unsecured
creditors are slated to share in a liquidation trust containing
proceeds from avoidance actions, and the holders of mezzanine
claims will see 2.3% of equity in the new company as well.  The
lenders will be repaid with their choice of equity in the new
company or a cash distribution.

Philadelphia Newspapers' plan also contemplates a $39.3 million
bankruptcy exit loan from a group of lenders led by Bank of Utah.
The money will help pay for the costs accrued since Feb. 22, 2009,
when the Debtors filed for bankruptcy protection, and provide the
company with working capital moving forward.

The reorganized company will be known as Philadelphia Media
Network Inc. and led by publisher and Chief Executive Greg Osberg,
a former president and publisher of Newsweek, and chief operating
chief Bob Hall, who was once publisher of the Inquirer and Daily
News.  Bruce Meier, an executive with restructuring firm Alvarez &
Marsal, who had served as a consultant for Philadelphia
Newspapers, will serve as its chief financial officer.

                 About Philadelphia Newspapers

Philadelphia Newspapers -- http://www.philly.com/-- owns and
operates numerous print and online publications in the
Philadelphia market, including the Philadelphia Inquirer, the
Philadelphia Daily News, several community newspapers, the
region's number one local Web site, philly.com, and a number of
related online products. The Company's flagship publications are
the Inquirer, the third oldest newspaper in the country and the
winner of numerous Pulitzer Prizes and other journalistic
recognitions, and the Daily News.

Philadelphia Newspapers and its debtor-affiliates filed for
Chapter 11 bankruptcy protection on February 22, 2008 (Bankr. E.D.
Pa. Case No. 09-11204).  Mark K. Thomas, Esq., and Paul V.
Possinger, Esq., at Proskauer Rose LLP in Chicago, Illinois; and
Lawrence G. McMichael, Esq., Christie Callahan Comerford, Esq.,
and Anne M. Aaronson, Esq., at Dilworth Paxson LLP, in
Philadelphia, Pennsylvania, serve as bankruptcy counsel.  The
Debtors' financial advisor is Jefferies & Company Inc.  The Garden
City Group, Inc., serves as claims and notice agent.

Ben Logan, Esq., at O'Melveny & Myers LLP in Los Angeles,
California; and Gary Schildhorn, Esq., at Eckert Seamans Cherin &
Mellott, LLC in Philadelphia, represent the Official Committee of
Unsecured Creditors.  Fred S. Hodara, Esq., Abid Qureshi, Esq.,
and Alexis Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP in
New York, represent the Steering Group of Prepetition Secured
Lenders.

Philadelphia Newspapers listed assets and debts of $100 million to
$500 million in its bankruptcy petition.


PHILADELPHIA NEWSPAPERS: Buyer Vows to Close Deal by End of August
------------------------------------------------------------------
Christopher K. Hepp at the Philadelphia Inquirer reports that Abid
Qureshi, Esq., at Akin Gump Strauss Hauer & Feld LLP, who
represents Philadelphia Media Network Inc., which purchased
certain of Philadelphia Newspapers LLC's assets, said Thursday his
clients would find a way to deal with any new costs and close on
their purchase by the end of August.

According to Mr. Hepp, Philadelphia Media Network is a collection
of 16 financial institutions that purchased The Inquirer, the
Philadelphia Daily News, and Philly.com at auction in April for
$139 million. It outbid Philadelphia Newspapers L.L.C. and its
chief executive officer, Brian P. Tierney.  In buying the
properties, Philadelphia Media Network said it would not take
responsibility for funding the employees' pension funds.

Mr. Hepp relates the pension funds have countered that the sale
would create about $174 million in fund shortfalls.  The
Teamsters' fund has informed the new company that it plans to file
$1.7 million in claims for the portion of its shortfall that was
accrued since Philadelphia Newspapers declared bankruptcy on Feb.
22, 2009.

According to Mr. Hepp, the new owners are concerned that if other
unions file similar claims, the company could face in excess of
$10 million in unexpected costs coming out of bankruptcy.

Philadelphia Newspapers and the new owners are asking the unions
to turn over financial data being used to determine what, if
anything, the unions are owed in pension shortfalls triggered by
the sale.  Mr. Hepp reports that at Thursday's hearing, lawyers
for the company and the Teamsters said they had reached an
agreement on the data the company was seeking.  The information
included monthly valuations of the pension funds, calculations
used to determine individual pension benefits, and how the unions
determined what shortfalls were accrued while the company was in
bankruptcy.

Mr. Hepp says U.S. Bankruptcy Judge Stephen Raslavich set an
August 16 hearing date to review any claims the unions and other
potential creditors might make against the company before its
exiting bankruptcy.

As reported by the Troubled Company Reporter on July 12, 2010,
Chief Bankruptcy Judge Stephen Raslavich denied a request by
employee pension plans to put Philadelphia Newspapers'
reorganization on hold while the pension plans appeal the
bankruptcy plan in U.S. District Court.  The funds oppose the
reorganization because the new owners will be absolved of
responsibility for funding pension shortfalls.

Andrew Maykuth at The Philadelphia Inquirer reported that Judge
Raslavich said the pension plans, led by the Teamsters Union fund
and including other employee funds, had failed to make a strong
case that they would suffer irreparable harm if the reorganization
were completed.  The judge said the company faced a more immediate
threat of insolvency if the bankruptcy case were not concluded by
September.

                       Bankruptcy Plan

As reported by the Troubled Company Reporter on June 29, 2010,
Philadelphia Newspapers received bankruptcy court approval to
reorganize and sell its newspapers to a group of its lenders for
$139 million.  Judge Raslavich approved the reorganization plan in
Philadelphia after overruling objections from union pension funds.
"This is not the end of the day," Judge Raslavich said in court,
according to Bloomberg News.  "There are still union contracts to
be negotiated and the sale to be consummated."

The confirmation hearing for approval of the Chapter 11 of
Philadelphia Newspapers began on June 24.

As reported by the TCR on April 29, 2010, Philadelphia Newspapers
held an auction where, senior lenders' $139 million offer emerged
as the highest bid.  According to a report by the Philadelphia
Inquirer, the deal includes:

  $39.2 million in debt; and
  $69 million in cash equity, plus
  $30 million, as the estimated value for the purposes of the
      bankruptcy auction, of the Company's real estate

Dow Jones noted the Chapter 11 plan provides a slight recovery for
some lower classes of creditors, despite the fact that the senior
secured lenders, which fall ahead in the line to be paid, are owed
$318 million, far more than their $135 million offer will cover.
Certain holders of pre-bankruptcy mezzanine debt and unsecured
creditors are slated to share in a liquidation trust containing
proceeds from avoidance actions, and the holders of mezzanine
claims will see 2.3% of equity in the new company as well.  The
lenders will be repaid with their choice of equity in the new
company or a cash distribution.

Philadelphia Newspapers' plan also contemplates a $39.3 million
bankruptcy exit loan from a group of lenders led by Bank of Utah.
The money will help pay for the costs accrued since Feb. 22, 2009,
when the Debtors filed for bankruptcy protection, and provide the
company with working capital moving forward.

The reorganized company will be known as Philadelphia Media
Network Inc. and led by publisher and Chief Executive Greg Osberg,
a former president and publisher of Newsweek, and chief operating
chief Bob Hall, who was once publisher of the Inquirer and Daily
News.  Bruce Meier, an executive with restructuring firm Alvarez &
Marsal, who had served as a consultant for Philadelphia
Newspapers, will serve as its chief financial officer.

                About Philadelphia Newspapers

Philadelphia Newspapers -- http://www.philly.com/-- owns and
operates numerous print and online publications in the
Philadelphia market, including the Philadelphia Inquirer, the
Philadelphia Daily News, several community newspapers, the
region's number one local Web site, philly.com, and a number of
related online products. The Company's flagship publications are
the Inquirer, the third oldest newspaper in the country and the
winner of numerous Pulitzer Prizes and other journalistic
recognitions, and the Daily News.

Philadelphia Newspapers and its debtor-affiliates filed for
Chapter 11 bankruptcy protection on February 22, 2008 (Bankr. E.D.
Pa. Case No. 09-11204).  Mark K. Thomas, Esq., and Paul V.
Possinger, Esq., at Proskauer Rose LLP in Chicago, Illinois; and
Lawrence G. McMichael, Esq., Christie Callahan Comerford, Esq.,
and Anne M. Aaronson, Esq., at Dilworth Paxson LLP, in
Philadelphia, Pennsylvania, serve as bankruptcy counsel.  The
Debtors' financial advisor is Jefferies & Company Inc.  The Garden
City Group, Inc., serves as claims and notice agent.

Ben Logan, Esq., at O'Melveny & Myers LLP in Los Angeles,
California; and Gary Schildhorn, Esq., at Eckert Seamans Cherin &
Mellott, LLC in Philadelphia, represent the Official Committee of
Unsecured Creditors.  Fred S. Hodara, Esq., Abid Qureshi, Esq.,
and Alexis Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP in
New York, represent the Steering Group of Prepetition Secured
Lenders.

Philadelphia Newspapers listed assets and debts of $100 million to
$500 million in its bankruptcy petition.


POINT BLANK: Loan Amendment Requires Sale in September
------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Point Blank Solutions
Inc. violated some of the financial performance requirements in
the $20 million loan provided by Steele Partners LLC to finance
the Chapter 11 case.   Accordingly, Steele and Point Blank agreed
to an amendment of the loan agreement committing the Company to a
schedule for selling the business.  The amendment would also waive
the covenant violation.

The Bloomberg report notes that if the amendment is approved by
the bankruptcy court at a hearing Point Blank hopes will be held
on Aug. 3, the revised loan will compel the company to have a
letter of intent laying out terms of sale by Sept. 15 and a motion
by Sept. 30 to approve an asset-purchase agreement.
Alternatively, Point Bank could file a Chapter 11 plan and
disclosure statement by Sept. 30.

                         About Point Blank

Pompano Beach, Fla.-based Point Blank Solutions, Inc.
-- http://www.pointblanksolutionsinc.com/-- designs and produces
body armor systems for the U.S. Military, Government and law
enforcement agencies, well as select international markets.  The
Company is recognized as the largest producer of soft body armor
in the U.S.  The Company maintains facilities in Pompano Beach,
Florida and Jacksboro, Tennessee.

Point Blank Solutions filed for Chapter 11 on April 14, 2010
(Bankr. D. Del. Case No. 10-11255).

The Company's bankruptcy counsel is Pachulski Stang Ziehl & Jones
LLP.


PROVIDENT COMMUNITY: Defers Payments on Trust Preferred Securities
------------------------------------------------------------------
Provident Community Bancshares, Inc., is exercising its right to
defer the regularly scheduled quarterly distribution on its
$12.4 million in subordinated debentures related to its two
outstanding trust preferred security issues.  The Company is also
exercising its right to defer the regular quarterly cash dividend
on its Fixed Rate Cumulative Perpetual Preferred Stock, Series A
(the TARP Preferred Stock) issued to the U.S. Treasury Department
in connection with the Corporation's participation in the
Treasury's TARP Capital Purchase Program.

Provident Community has decided to exercise its right to defer the
payment of interest on its outstanding subordinated debentures for
an indefinite period (which can be no longer than 20 consecutive
quarterly periods).  This and any future deferred distributions
will continue to accrue interest at a current rate of 7.39% for
the $4.0 million of trust preferred securities issued in July 2006
and at a current rate of 2.28% for the $8.0 million of trust
preferred securities issued in December 2006.  Distributions on
the trust preferred securities are cumulative.  Therefore, in
accordance with generally accepted accounting principles, the
Company will continue to accrue the monthly cost of the trust
preferred securities as it has since issuance.

Under the terms of the TARP Preferred Stock, the Corporation is
required to pay on a quarterly basis a dividend rate of 5% per
year for the first five years, after which the dividend rate
automatically increases to 9% per year.  Dividend payments may be
deferred, but the dividend is a cumulative dividend and failure to
pay dividends for six dividend periods would trigger board
appointment rights for the holder of the TARP Preferred Stock.

"In light of the challenging economy we are currently
experiencing, the Corporation has elected to exercise its right to
defer interest payments on its trust preferred securities and
preferred stock," said Dwight V. Neese, President and Chief
Executive Officer of Provident Community Bancshares.  "The
deferral of payments is in the best long-term interest of our
shareholders and will allow us to maintain liquidity and preserve
capital in this challenging economic environment, and we can elect
to end the deferral at any time," continued Mr. Neese.

Provident Community Bancshares -- http://www.providentonline.com/
-- is the holding company for Provident Community Bank, N.A.,
which operates nine community oriented banking centers in the
upstate of South Carolina that offer a full array of financial
services.  The Company is headquartered in Rock Hill, S.C., and
its common stock is traded on the NASDAQ Capital Market under the
symbol PCBS.  Provident Community Bancshares' balance sheet dated
June 30, 2010, shows $432 million in assets and $26 million in
shareholders' equity.


RIVIERA HOLDINGS: Asks for OK to Enter Into Backstop Agreement
--------------------------------------------------------------
Riviera Holdings Corporation, et al., sought authorization from
the U.S. Bankruptcy Court for the District of Nevada to enter into
and perform under a Backstop Commitment Agreement with their
senior secured lenders.

Under the Agreement, the Debtors will pay the Backstop Lenders
these Commitment Fees:

      (i) If the $20,000,000 Series B Term Loan is funded and the
          $10,000,000 Working Capital Facility is fully committed
          on the Substantial Consummation Date of the Plan, 5% of
          the equity in Reorganized Debtor;

     (ii) In the event of the termination of the Agreement under
          certain circumstances, a fee of $1,000,000; and

    (iii) In the event the Series B Term Loan is not made, but the
          entire Working Capital Facility is available as provided
          for in the Plan, a fee of $300,000.

On July 12, 2010, the Debtors and the Backstop Lenders entered
into the Agreement, pursuant to which the Backstop Lenders commit
to provide their ratable share of the New Money Investment and
backstop any unsubscribed portion thereof in the event that less
than all Senior Secured Lenders elect to participate therein.
Pursuant to the Agreement and the Plan, participation in the New
Money Investment is being offered to all Senior Secured Lenders on
a pro rata basis.

Under the Agreement, the Backstop Lenders provide assurance that
the Series B Term Loan, as of the Substantial Consummation Date of
the Plan, will be fully funded in the aggregate amount of
$20.0 million and the Working Capital Facility will be fully
committed in the aggregate principal amount of $10.0 million.
Each Backstop Lender commits, (a) to fund its Pro Rata Share of
the Series B Term Loan and commits to fund its Pro Rata Share of
the Working Capital Facility (collectively, the Backstop Lender
Pro Rata Share) and (b) to backstop an amount equal to the Pro
Rata Share of all Senior Secured Lenders (other than the Backstop
Lenders) of the Series B Term Loan and Working Capital Facility by
providing commitments to make Series B Term Loans under the Second
Lien Credit Agreement and Revolving Loans under the Working
Capital Facility in accordance with the percentages set forth on
Schedule 1 attached to the Agreement (each such percentage, the
Backstop Commitment Percentage), in each case, on the terms
described in the Agreement and in the Plan.

To the extent that any Senior Secured Lender (other than a
Backstop Lender) (i) elects not to participate in or (ii) elects
not to participate according to its full Pro Rata Share of, as
applicable, the Series B Term Loan (such aggregate amount, the
Unsubscribed Loans) and the Working Capital Facility (such
aggregate amount, the Unsubscribed Commitment and together with
the Unsubscribed Loans, the "Unsubscribed Amount"), each Backstop
Lender will fund its Backstop Commitment Percentage of the
Unsubscribed Loans and commit to fund its Backstop Commitment
Percentage of the Unsubscribed Commitment on the Substantial
Consummation Date.  Notwithstanding anything in the Agreement or
otherwise, in no event will any Backstop Lender be required to
fund in excess of its Backstop Lender Pro Rata Share and its
Backstop Commitment Percentage of the Unsubscribed Amount.

The Debtors have been in default under the Senior Secured Credit
Agreement since February 2009 and have not made interest payments
on account of the Senior Secured Claims since December 2008.  In
addition, unable to make the representations and warranties
necessary to draw on its revolving credit facility, the Debtors
have been without access to the revolving credit facility for over
sixteen months.

A copy of the Agreement is available for free at:

               http://ResearchArchives.com/t/s?66f4

                     About Riviera Holdings

Riviera Holdings, through its wholly-owned subsidiary, Riviera
Operating Corporation, owns and operates the Riviera Hotel &
Casino located in Las Vegas, Nevada, which consists of a hotel
comprised of five towers with 2,075 guest rooms, including 177
suites, and which has traditional Las Vegas-style gaming,
entertainment and other amenities.

In addition, Riviera Holdings, through its wholly-owned
subsidiary, Riviera Black Hawk, Inc., owns and operates the
Riviera Black Hawk Casino, a casino in Black Hawk, Colorado and
has various non-gaming amenities, including parking, buffet-styled
restaurant, delicatessen, a casino bar and a ballroom.

Riviera Holdings together with the two affiliates filed for
Chapter 11 on July 12 in Las Vegas, Nevada (Bankr. D. Nev. Case
No. 10-22910).  Riviera Holdings' petition listed assets and debts
of $100 million to $500 million. Attorneys at Gordon Silver
represent the Debtors in the Chapter 11 cases.


ROCK CHRISTIAN: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: The Rock Christian Community Church
        4950 Vista Boulevard
        Sparks, NV 89436

Bankruptcy Case No.: 10-52820

Chapter 11 Petition Date: July 19, 2010

Court: U.S. Bankruptcy Court
       District of Nevada (Reno)

Judge: Gregg W. Zive

Debtor's Counsel: Stephen R. Harris, Esq.
                  Belding, Harris & Petroni, LTD
                  417 W Plumb Lane
                  Reno, NV 89509
                  Tel: (775) 786-7600
                  Fax: (775) 786-7764
                  E-mail: steve@renolaw.biz

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by Arthur L. Lenon, president.


RTM ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: RTM Enterprises, Inc
        P.O. Box 1869
        Marysville, WA 98270

Bankruptcy Case No.: 10-18268

Chapter 11 Petition Date: July 19, 2010

Court: United States Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Samuel J. Steiner

Debtor's Counsel: Martin E. Snodgrass, Esq.
                  3302 Oakes Avenue
                  Everett, WA 98201
                  Tel: (425) 783-0797
                  E-mail: mes@snodgrasslaw.com

Scheduled Assets: $77,000

Scheduled Debts: $1,064,058

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/wawb10-18268.pdf

The petition was signed by Ross Mayer, president.


SOUTHWESTUSA BANK: Closed; Plaza Bank Assumes All Deposits
----------------------------------------------------------
SouthwestUSA Bank of Las Vegas, Nev., was closed on July 23, 2010,
by the Nevada Financial Institutions Division, which appointed the
Federal Deposit Insurance Corporation as receiver.  To protect the
depositors, the FDIC entered into a purchase and assumption
agreement with Plaza Bank of Irvine, Calif., to assume all of the
deposits of SouthwestUSA Bank.

The sole branch of SouthwestUSA Bank will reopen during normal
business hours as a branch of Plaza Bank.  Depositors of
SouthwestUSA Bank will automatically become depositors of Plaza
Bank.  Deposits will continue to be insured by the FDIC, so there
is no need for customers to change their banking relationship in
order to retain their deposit insurance coverage.  Customers of
SouthwestUSA Bank should continue to use their existing branch
until they receive notice from Plaza Bank that it has completed
systems changes to allow other Plaza Bank branches to process
their accounts as well.

As of March 31, 2010, SouthwestUSA Bank had around $214.0 million
in total assets and $186.7 million in total deposits.  Plaza Bank
did not pay the FDIC a premium for the deposits of SouthwestUSA
Bank.  In addition to assuming all of the deposits of the failed
bank, Plaza Bank agreed to purchase around $137.3 million of the
failed bank's assets.  The FDIC will retain the remaining assets
for later disposition.

The FDIC and Plaza Bank entered into a loss-share transaction on
$111.3 million of SouthwestUSA Bank's assets.  Plaza 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, 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 1-800-591-2845.  Interested parties also can
visit the FDIC's Web site at:

http://www.fdic.gov/bank/individual/failed/southwestusanv.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $74.1 million.  Compared to other alternatives, Plaza
Bank's acquisition was the least costly resolution for the FDIC's
DIF.  SouthwestUSA Bank is the 102nd FDIC-insured institution to
fail in the nation this year, and the fourth in Nevada.  The last
FDIC-insured institution closed in the state was Nevada Security
Bank, Reno, on June 18, 2010.


SENECA GAMING: Moody's Reviews 'Ba2' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service placed all the long term ratings of
Seneca Gaming Corporation, including the Ba2 Corporate Family
Rating and Ba2 Senior Unsecured Notes 2012, on review for possible
downgrade.  The short term Speculative Grade Liquidity rating of
SGL-3 is unaffected by the ratings actions.

The review for possible downgrade is in response to the Seneca
Nation of Indians's announcement that it has received a request
from the Internal Revenue Service to review Nation's records
related to a routine IRS Form 945 filing for 2008.  Although this
is at the Nation level and has not resulted in any adverse impact
to SGC, the review for possible downgrade reflects the uncertainty
surrounding this event.  Moody's review incorporates the
possibility that the IRS request may invite further regulatory
and/or accounting scrutiny, or could result in other unintended
consequences potentially impacting SGC -- the Nation's gaming
operations.  Moreover, a review of the Nation's use of gaming
revenue by the National Indian Gaming Commission has been on-going
since December 2006, and has not been resolved yet.

The review for possible downgrade also reflects Moody's opinion
that SGC is weakly positioned at its current rating as it has been
performing towards the lower end of Moody's expectation, albeit
SGC's topline showed signs of stabilization per the recent
financial results reported in the 10Q filing as of March 31, 2010.

Moody's review will focus on potential implications on SGC from
the IRS review at the Nation.  Moody's review will also assess
SGC's operation, and any impact from the prolonged weak economy,
increased competition and margin pressures.

Ratings placed under review for possible downgrade: (LGD
assessments are subject to change)

* Corporate Family Rating -- Ba2
* Probability of Default Rating -- Ba2
* $500 million Senior Unsecured Notes due 2012 -- Ba2 (LGD4, 51%)

The Speculative Grade Liquidity Rating is unchanged and will be
revisited upon conclusion of the ratings review.

Moody's last rating action occurred on February 23, 2009, when the
rating outlook was changed to negative from stable.

Seneca Gaming Corporation owns and operates Seneca Niagara Falls
Casino and Hotel in Niagara Falls, NY, Seneca Allegany Casino and
Hotel in Salamanca, NY, and Seneca Buffalo Creek Casino in Erie
County, NY.  Net revenues for the twelve-month period ended
March 31, 2010, were approximately $575 million.  SGC is an
incorporated instrumentality of the Seneca Nation of Indians, a
federally recognized tribe.


SPECIALTY TRUST: Amends Schedules of Assets and Liabilities
-----------------------------------------------------------
Specialty Trust, Inc., filed with the U.S. Bankruptcy Court for
the District of Nevada amended schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $5,497,728
  B. Personal Property          $195,954,320
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $66,216,732
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $42,805,462
                                 -----------      -----------
        TOTAL                   $201,452,048     $109,022,194

Reno, Nevada-based Specialty Trust, Inc., together with two
affiliates, filed for Chapter 11 bankruptcy protection on April
20, 2010 (Bankr. D. Nev. Case No. 10-51432).  Sallie B. Armstrong,
Esq., at Downey Brand, represents the Debtor in its restructuring
effort.  The Debtor listed $100,000,001 to $500,000,000 in assets
and $50,000,001 to $100,000,000 in liabilities.


STERLING BANK: Closed; IBERIABANK Assumes All Deposits
------------------------------------------------------
Sterling Bank of Lantana, Fla., was closed on July 23, 2010, 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 IBERIABANK of Lafayette, La., to assume all of the
deposits of Sterling Bank.

The six branches of Sterling Bank will reopen during normal
business hours as branches of IBERIABANK.  Depositors of Sterling
Bank will automatically become depositors of IBERIABANK.  Deposits
will continue to be insured by the FDIC, so there is no need for
customers to change their banking relationship in order to retain
their deposit insurance coverage.  Customers of Sterling Bank
should continue to use their existing branch until they receive
notice from IBERIABANK that it has completed systems changes to
allow other IBERIABANK branches to process their accounts as well.

As of March 31, 2010, Sterling Bank had around $407.9 million in
total assets and $372.4 million in total deposits.  IBERIABANK did
not pay the FDIC a premium for the deposits of Sterling Bank.  In
addition to assuming all of the deposits of the failed bank,
IBERIABANK agreed to purchase essentially all of the assets.

The FDIC and IBERIABANK entered into a loss-share transaction on
$244.3 million of Sterling Bank's assets.  IBERIABANK 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, 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 1-800-523-8275.  Interested parties also can
visit the FDIC's Web site at:

    http://www.fdic.gov/bank/individual/failed/sterlingfl.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $45.5 million.  Compared to other alternatives,
IBERIABANK's acquisition was the least costly resolution for the
FDIC's DIF.  Sterling Bank is the 97th FDIC-insured institution to
fail in the nation this year, and the eighteenth in Florida.  The
last FDIC-insured institution closed in the state was Metro Bank
of Dade County, Miami, on July 16, 2010.


SUN HEALTHCARE: Bank Debt Trades at 4% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Sun Healthcare
Group, Inc., is a borrower traded in the secondary market at 96.40
cents-on-the-dollar during the week ended Friday, July 23, 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 200 basis points above LIBOR to borrow under the
facility.  The bank loan matures on April 19, 2014, and carries
Moody's Ba2 rating and Standard & Poor's B+ rating.  The loan is
one of the biggest gainers and losers among 194 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Sun Healthcare Group, Inc., -- http://www.sunh.com/-- provides
nursing, rehabilitative and related specialty healthcare services
principally to the senior population in the United States.  Its
core business is providing inpatient services, primarily through
183 skilled nursing centers, 14 assisted and independent living
centers and eight mental health centers.  As of Dec. 31, 2009, the
Company's centers had 23,205 licensed beds located in 25 states,
of which 22,423 were available for occupancy.  The Company's
subsidiary engages in three business segments: inpatient services,
primarily skilled nursing centers; rehabilitation therapy
services, and medical staffing services.


SUN WEST: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Sun West Estates, Ltd.
        4528 Willow West
        El Paso, TX 79922

Bankruptcy Case No.: 10-31484

Chapter 11 Petition Date: July 19, 2010

Court: United States Bankruptcy Court
       Western District of Texas (El Paso)

Judge: Leif M. Clark

Debtor's Counsel: E.P. Bud Kirk, Esq.
                  Terrace Gardens
                  600 Sunland Park Drive, Bldg 4, #400
                  El Paso, TX 79912
                  Tel: (915) 584-3773
                  E-mail: budkirk@aol.com

Scheduled Assets: $3,455,000

Scheduled Debts: $1,561,158

A list of the Company's 6 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txwb10-31484.pdf

The petition was signed by Miguel Aldrete, Sr., managing member of
Sun West Development, LLC, Debtor's general partner.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
FSun West Estates New Mexico, L.P.     10-11006   03/16/10


SUNRISE SENIOR living: Reaches Settlement with SEC
--------------------------------------------------
Sunrise Senior Living, Inc., has reached a settlement with the
U.S. Securities and Exchange Commission relating to the SEC's
previously disclosed investigation of the Company.

Under the settlement, the Company has consented, without admitting
or denying the allegations in the SEC's complaint, to the entry of
a judgment permanently enjoining the Company from violating the
reporting, books and records and internal control provisions of
the Securities Exchange Act of 1934.  The SEC is not seeking to
impose a civil penalty against the Company.  The SEC indicated
that the terms of the settlement with the Company reflect credit
given to the Company for its substantial assistance in the
investigation.

The SEC's complaint includes allegations with respect to the
Company's financial reporting during the relevant period from 2003
through 2005 relating to certain Company accrual and reserve
accounts.  Two former officers of the Company, Larry E. Hulse and
Kenneth J. Abod, also reached settlements with the SEC without
admitting or denying the allegations against them in the
complaint.  The Company believes the SEC will not be taking action
against any other directors, officers or employees of the Company.

The settlements are subject to court approval.

"We are very pleased to put this matter behind us," said Mark
Ordan, Sunrise's chief executive officer.  "This is another very
positive step in rebuilding the organization."
Going Concern Doubt

According to the Troubled Company Reporter on March 3, 2010, Ernst
& Young LLP of McLean, Virginia, express substantial doubt about
Sunrise Senior Living Inc.'s ability as a going concern after
auditing the company's financial statement for the year ended
Dec. 31, 2009.  The auditor said the Company cannot borrow under
the bank credit facility and the Company has significant debt
maturing in 2010 which it does not have the ability to repay.

                    Cash and Liquidity Update

Sunrise had $39.3 million of unrestricted cash at Dec. 31, 2009.
Sunrise has no borrowing availability under its bank credit
facility, and has significant scheduled debt maturities in 2010
and significant debt that is in default.  As of December 31, 2009,
Sunrise had debt of $440.2 million, of which $227.2 million of
debt is scheduled to mature in 2010, including $33.7 million under
its bank credit facility, which is due in December 2010. Debt that
is in default totals $317.2 million, including $198.7 million of
debt that is in default as a result of the failure to pay
principal and interest to the lenders of Sunrise's German
communities. Sunrise is seeking waivers with respect to existing
defaults to avoid acceleration of these obligations.

On Feb. 12, 2010, Sunrise extended $56.9 million of debt that was
either past due or in default at December 31, 2009.  The debt is
associated with an operating community and two land parcels.  In
connection with the extension, Sunrise (i) made a $5.0 million
principal payment at closing, (ii) extended the terms of the debt
to no earlier than December 2, 2010, (iii) provided for an
additional $5.0 principal payment on or before July 31, 2010, and,
among other items, (iv) defaults under the loan agreements were
waived by the lenders.

                     About Sunrise Senior

McLean, Virginia-based Sunrise Senior Living --
http://www.sunriseseniorliving.com/-- employs 40,000 people.  As
of November 9, 2009, Sunrise operated 403 communities in the
United States, Canada, Germany and the United Kingdom, with a
combined unit capacity of approximately 41,500 units.  Sunrise
offers a full range of personalized senior living services,
including independent living, assisted living, care for
individuals with Alzheimer's and other forms of memory loss, as
well as nursing and rehabilitative services.  Sunrise's senior
living services are delivered by staff trained to encourage the
independence, preserve the dignity, enable freedom of choice and
protect the privacy of residents.

The Company reported $910.58 million in total assets and
$884.35 million in total liabilities, resulting to a
$26.23 million stockholders' deficit as of Dec. 31, 2009.


SUPERVALU INC: Bank Debt Trades at 4% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which SUPERVALU, Inc.,
is a borrower traded in the secondary market at 95.95 cents-on-
the-dollar during the week ended Friday, July 23, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.59 percentage
points from the previous week, The Journal relates.  The Company
pays 125 basis points above LIBOR to borrow under the facility,
which matures on June 2, 2012.  The debt is not rated by Moody's
and Standard & Poor's.  The loan is one of the biggest gainers and
losers among 194 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

SUPERVALU, Inc. (NYSE:SVU), -- http://www.supervalu.com/-- is a
grocery channel that conducts its retail operations under the
banners, such as Acme Markets, Albertsons, Bristol Farms, bigg's,
Cub Foods, Farm Fresh, Hornbacher's, Jewel-Osco, Lucky, Save-A-
Lot, Shaw's Supermarkets, Shop 'n Save, Shoppers Food & Pharmacy
and Star Markets.  Additionally, the Company provides supply chain
services, primarily wholesale distribution, across the United
States retail grocery channel.  The Company operates in two
segments: Retail food and Supply chain services.  During the
fiscal year ended February 28, 2009 (fiscal 2009), the Company
added 44 new stores through new store development and closed 97
stores.  The Company leverages its distribution operations by
providing wholesale distribution and logistics and service
solutions to its independent retail customers through its Supply
chain services segment.


TELESAT CANADA: Bank Debt Trades at 4% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Telesat Canada is
a borrower traded in the secondary market at 96.14 cents-on-the-
dollar during the week ended Friday, July 23, 2010, according to
data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.67 percentage
points from the previous week, The Journal relates.  The Company
pays 300 basis points above LIBOR to borrow under the facility.
The bank debt is not rated by Moody's and Standard & Poor's.  The
loan is one of the biggest gainers and losers among 194 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Headquartered in Ottawa, Ontario, Canada, Telesat Canada is the
world's fourth largest provider of fixed satellite services and
one of three companies operating on a global basis.  The company
has a fleet of 12 in-orbit satellites comprised of ten owned and
operated satellites, one satellite with a prepaid lease, and one
satellite leased from DIRECTV, Inc.

Telesat carries 'B2' long term corporate family ratings from
Moody's and 'B+' issuer credit ratings from Standard & Poor's.


TEXAS RANGERS: Judge Lynn Assures Finances Will Be Available
------------------------------------------------------------
Eric Morath at Dow Jones Daily Bankruptcy Review reports that
Judge D. Michael Lynn sought to assure Texas Rangers manager Ron
Washington about the team's finances and invited the manager and
his players to come to the court with any concerns.  Mr.
Washington appeared in Court Thursday to testify about how an
extended stay in bankruptcy would affect the Rangers.

According to the report, Mr. Washington told Judge Lynn the morale
of the team, which is in first-place, is "unbelievably good" at
the moment, but said that could change if uncertainly over
ownership drags on and casts doubt over the club's ability to
renew players' contracts or provide Major League amenities.

"The finances needed for this team to complete as well as they
have will be available -- I want the players to understand that,"
Judge Lynn told Mr. Washington, according to Mr. Morath.  "We
won't change you from (traveling in) a jet to a school bus."

Mr. Morath also relates Judge Lynn directed the Rangers to win the
world championship.

As reported by the TCR on Friday, Judge Lynn said he will not
delay the Aug. 4 auction for Rangers.

                       About Texas Rangers

Texas Rangers Baseball Partners owns and operates the Texas
Rangers Major League Baseball Club, a professional baseball club
in the Dallas/Fort Worth Metroplex.  TRBP is a Texas general
partnership, in which subsidiaries of HSG Sports Group LLC own a
100% stake.  Controlled by Thomas O. Hicks, HSG also indirectly
wholly-owns Dallas Stars, L.P., which owns and operates the Dallas
Stars National Hockey League franchise.  The Texas Rangers have
had five owners since the club moved to Arlington in 1972.  Mr.
Hicks became the fifth owner in the history of the Texas Rangers
on June 16, 1998.

In its petition, Texas Rangers Baseball Partners said it had both
assets and debt of less than $500 million.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtor.  Forshey & Prostok LLP serves as conflicts counsel.
Parella Weinberg Partners LP serves as financial advisor.

Lenders to the Texas Rangers sought to force the baseball team's
equity owners -- Rangers Equity Holdings, L.P. and Rangers Equity
Holdings GP, LLC -- into bankruptcy court protection (Bankr. N.D.
Tex. Case No. 10-43624 and 10-43625).   The lenders, a group that
includes investment funds Monarch Alternative Capital and
Kingsland Capital Management, filed an involuntary bankruptcy
petition on May 28 against the two companies.  The two companies
were not included in the May 24 Chapter 11 filing of TRBP.


TEXAS RANGERS: Judge Won't Delay August 4 Auction
-------------------------------------------------
Bill Rochelle at Bloomberg News reports that after hearing three
days of testimony, the bankruptcy judge ruled July 22 that the
auction for the Texas Rangers baseball team will proceed as
scheduled on Aug. 4.  A hearing to consider confirmation of Texas
Rangers' reorganization plan is also scheduled for August 4.

Under the sale procedures, the Debtor will hold an auction on
Aug. 4, if competing bids are submitted by Aug. 3.  The group led
by current team President Nolan Ryan and sports lawyer Chuck
Greenberg originally signed prepetition a contract to purchase the
club for about $304 million cash.  The group has now agreed to
modify the original contract by raising the price to $306.7
million.  In addition, they sweetened the offer by lowering an
escrow holdback from $30 million to $10 million and by not forcing
other purchasers to take over the lease for the team airplane.  If
the Ryan-Greenberg group is outbid, they would receive a $15
million breakup fee.  In return for the fee, the stalking-horse
bidder agreed to waive exclusivity provisions in the May contract.

Before the auction, other bidders must be approved by Major League
Baseball.

                        About Texas Rangers

Texas Rangers Baseball Partners owns and operates the Texas
Rangers Major League Baseball Club, a professional baseball club
in the Dallas/Fort Worth Metroplex.  TRBP is a Texas general
partnership, in which subsidiaries of HSG Sports Group LLC own a
100% stake.  Controlled by Thomas O. Hicks, HSG also indirectly
wholly-owns Dallas Stars, L.P., which owns and operates the Dallas
Stars National Hockey League franchise.  The Texas Rangers have
had five owners since the club moved to Arlington in 1972.  Mr.
Hicks became the fifth owner in the history of the Texas Rangers
on June 16, 1998.

In its petition, Texas Rangers Baseball Partners said it had both
assets and debt of less than $500 million.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtor.  Forshey & Prostok LLP serves as conflicts counsel.
Parella Weinberg Partners LP serves as financial advisor.

Lenders to the Texas Rangers sought to force the baseball team's
equity owners -- Rangers Equity Holdings, L.P. and Rangers Equity
Holdings GP, LLC -- into bankruptcy court protection (Bankr. N.D.
Tex. Case No. 10-43624 and 10-43625).   The lenders, a group that
includes investment funds Monarch Alternative Capital and
Kingsland Capital Management, filed an involuntary bankruptcy
petition on May 28 against the two companies.  The two companies
were not included in the May 24 Chapter 11 filing of TRBP.


THUNDER BANK: Closed; The Bennington State Bank Assumes Deposits
----------------------------------------------------------------
Thunder Bank of Sylvan Grove, Kan., was closed on July 23, 2010,
by the Kansas Office of the State Bank Commissioner, which
appointed the Federal Deposit Insurance Corporation as receiver.
To protect the depositors, the FDIC entered into a purchase and
assumption agreement with The Bennington State Bank of Salina,
Kan., to assume all of the deposits of Thunder Bank.

The two branches of Thunder Bank will reopen during normal
business hours as branches of The Bennington State Bank.
Depositors of Thunder Bank will automatically become depositors of
The Bennington State Bank.  Deposits will continue to be insured
by the FDIC, so there is no need for customers to change their
banking relationship in order to retain their deposit insurance
coverage.  Customers of Thunder Bank should continue to use their
existing branch until they receive notice from The Bennington
State Bank that it has completed systems changes to allow other
The Bennington State Bank branches to process their accounts as
well.

As of March 31, 2010, Thunder Bank had around $32.6 million in
total assets and $28.5 million in total deposits.  The Bennington
State Bank did not pay the FDIC a premium for the deposits of
Thunder Bank.  In addition to assuming all of the deposits of the
failed bank, The Bennington State Bank agreed to purchase
essentially all of the assets.

Customers who have questions about the transaction can call the
FDIC toll-free at 1-877-894-4710.  Interested parties also can
visit the FDIC's website at:

  http://www.fdic.gov/bank/individual/failed/thunderbankks.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $4.5 million.  Compared to other alternatives, The
Bennington State Bank's acquisition was the least costly
resolution for the FDIC's DIF.  Thunder Bank is the 100th FDIC-
insured institution to fail in the nation this year, and the first
in Kansas.  The last FDIC-insured institution closed in the state
was SolutionsBank, Overland Park, on Dec. 11, 2009.


TOUSA INC: Judge Wants Mediation of Plan Issues
-----------------------------------------------
Bankruptcy Judge John K. Olson on Wednesday told counsel to the
major parties in TOUSA, Inc.'s bankruptcy cases that in light of
the filing by the official committee of unsecured creditors of a
liquidating Chapter 11 plan, he would direct mandatory mediation
of plan issues among the various active constituencies in the
cases.  The mediation participants would include the Committee,
the Debtors and their lenders.

"It seems appropriate that I direct mandatory mediation," Judge
Olson said.  Judge Olson said he will raise the issue at the next
omnibus hearing on August 25.  He said the mediation is expected
in Fort Lauderdale commencing on November 8.

The Committee filed on July 16, 2010, a Joint Plan of Liquidation
for the Debtors, and accompanying Disclosure Statement.

The Plan consists of separate chapter 11 plans for each of the 38
Debtors.  The Plan does not include TOUSA Homes, L.P., because it
has no assets and thus no plan can be confirmed.  The Committee
intends to file a motion dismissing the chapter 11 case of TOUSA
Homes, L.P., prior to the hearing on confirmation of its Plan.

Under the Plan, the treatment of the classes of claims against and
interests in each of the Plan Debtors is described in three parts:
(i) claims against and equity interests in TOUSA; (ii) claims
against and equity interests in the Plan Debtors other than TOUSA
and Beacon Hill (the "Conveying Subsidiaries"); and (iii) claims
against and equity interests in Beacon Hill.  The Plan
contemplates the orderly monetization of the Plan Debtors'
remaining homebuilding assets.  The Plan also contemplates that
all assets of the Plan Debtors, including all causes of action and
proceeds thereof, will be transferred to a liquidation trust on
the Effective Date.  The Liquidation Trust will liquidate,
monetize and distribute the Liquidation Trust Assets and make
distributions to holders of allowed claims against the Plan
Debtors as provided in the Plan.

The Liquidation Trust will be administered by a liquidation
trustee, in consultation with a three-member board, whose initial
members will be appointed by the Committee at or prior to the
hearing on confirmation of the Plan.

The Debtors filed a Joint Chapter 11 Plan and accompanying
disclosure statement on October 13, 2008.  The Debtors filed a
first amended plan on April 17, 2009.

The Committee said the macroeconomic challenges facing the
Debtors, as well as the complicating factors relating to
litigation among creditor groups, rendered the Debtors' previous
plans obsolete before they could be finalized.  The Committee's
Liquidating Plan purports to settle litigation with the Debtors'
lenders.

Since shortly after the Debtors' bankruptcy filing in January
2008, the Committee, with the authority of the Court, has been
engaged in extensive litigation against the lenders under the
Debtors' prepetition secured credit facilities and certain lenders
who provided financing to the Debtors in connection with a failed
prepetition joint venture -- Transeastern Lenders -- in an effort
to avoid certain fraudulent transfers and preferences.  Although
the Committee, the Debtors and the Prepetition Secured Lenders
made three attempts at negotiating a consensual plan of
reorganization for the Debtors, ongoing litigation among the
Debtors' major creditor groups and against the Debtors' directors
and officers complicated the plan process.

On October 13, 2009, the Bankruptcy Court rendered a judgment in
favor of the Committee requiring the First Lien Term Loan Lenders,
Second Lien Term Loan Lenders and Transeastern Lenders to disgorge
monies that they had improperly received as a result of the
fraudulent conveyances.  The First Lien Term Loan Lenders, Second
Lien Term Loan Lenders and Transeastern Lenders each filed appeals
of the Decision in the United States District Court for the
Southern District of Florida, which appeals are currently pending.
Following entry of the Decision, the Committee sought to restart
settlement discussions and create a path to a consensual plan of
reorganization.  To date, such efforts have not yielded a
settlement.

The Committee's Plan relieves the First Lien Term Loan Lenders and
Second Lien Term Loan Lenders of certain disgorgement obligations
through the enforcement of the intercreditor agreement entered
into among the Prepetition Secured Lenders and their agents.
Specifically, the Plan provides that, in lieu of disgorgement, all
payments previously made to or on behalf of the First Lien Term
Loan Lenders and the Second Lien Term Loan Lenders will be deemed
to have been made to the First Lien Revolver Lenders and
redistributed in accordance with the waterfall provisions of the
intercreditor agreement.  Based on this reallocation, the First
Lien Revolver Lenders' remaining claim will be paid from
encumbered assets at TOUSA and the Conveying Subsidiaries. The
First Lien Term Loan Lenders will receive their pro rata share of
the value of the assets at TOUSA in which they have valid liens
and unsecured creditors will receive interests in the Liquidation
Trust entitling them to distributions from the Liquidation Trust
(based on the Plan Debtors against which the applicable unsecured
creditors hold allowed claims) as the applicable Plan Debtors'
assets are liquidated.

A full-text copy of the Committee's Liquidation Plan is available
at no charge at:

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

A full-text copy of the Committee's Disclosure Statement is
available at no charge at:

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

The Committee intends to present the Disclosure Statement to the
Court for approval on August 25, 2010, and is targeting a hearing
on confirmation of the Plan for the end of October 2010 on a date
to be determined by the Court.

The Committee is represented by:

     Daniel H. Golden, Esq.
     Philip C. Dublin, Esq.
     Natalie E. Levine, Esq.
     AKIN GUMP STRAUSS HAUER & FELD LLP
     One Bryant Park
     New York, NY 10036
     Telephone: (212) 872-1000
     Facsimile: (212) 872-1002

          - and -

     Patricia A. Redmond, Esq.
     STEARNS WEAVER MILLER WEISSLER ALHADEFF & SITTERSON, P.A.
     150 West Flagler Street
     Miami, Florida 33130
     Telephone: (305) 789-3553
     Facsimile: (305) 789-3395

                          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: Alvarez & Marsal Charges $1.50 Mil. for March-May Work
------------------------------------------------------------------
Pursuant to Sections 330 and 331 of the Bankruptcy Code, these
professionals hired in Tribune's bankruptcy cases filed interim
fee applications:

A. Debtors' Professionals

  Professional              Period          Fees        Expenses
  ------------              ------          ----        --------
Alvarez & Marsal North   03/01/10-
America, LLC             05/31/10    $1,494,361          $4,600

Jenner & Block LLP       03/01/10-
                          05/31/10       160,565           2,659

Reed Smith LLP           03/01/10-
                          05/31/10        80,355           1,742

Lazard Freres & Co. LLC  03/01/10-
                          05/31/10       600,000          28,993

Mercer (US) Inc.         03/01/10-
                          05/31/10       199,081          21,640

PricewaterhouseCoopers   03/01/10-
LLP                      05/31/10       863,324           3,140

Cole, Schotz, Meisel,    04/01/10-
Forman & Leonard, P.A.   04/30/10       151,550           8,795

Paul, Hastings, Janofsky 03/01/10-
& Walker LLP             05/31/10        63,584              17


Daniel J. Edelman, Inc.  03/01/10-
                          05/31/10         1,575              33

Dow Lohnes PLLC          03/01/10-
                          05/31/10       572,328           5,121

Seyfarth Shaw LLP        03/01/10-
                          05/31/10       308,348           8,346

Cole Schotz is the Debtors' co-counsel.  Jenner & Block serves as
special counsel to the Debtors.  Alvarez & Marsal acts as
restructuring advisor to the Debtors.  Paul Hastings serves as the
Debtors' counsel for general real estate.

Alvarez & Marsal acts as restructuring advisor to the Debtors.
Daniel J. Edelman is the Debtors' corporate communications
consultants.  Reed Smith acts as the Debtors' special counsel for
certain insurance matters.  Dow Lohnes is the Debtors' special
regulatory counsel.  Lazard Freres serves as the Debtors'
financial advisor.  Jenner & Block acts as the Debtors' special
counsel.  Mercer (US) Inc. is the Debtors' compensation
consultant.  Paul Hastings serves as the Debtors' real estate
counsel.  PricewaterhouseCoopers is the Debtors' independent
auditors.  Seyfarth Shaw serves as employment litigation counsel
to the Debtors.

B. Official Committee of Unsecured Creditors' Professionals:

  Professional              Period          Fees        Expenses
  ------------              ------          ----        --------
Moelis & Company LLC     03/01/10-
                          05/31/10       600,000         13,584

Zuckerman Spaeder LLP    03/01/10-
                          05/31/10       579,613        337,176

Chadbourne & Parke LLP   03/01/10-
                          05/31/10     3,743,887        227,476

Landis Rath & Cobb LLP   03/01/10-
                          05/31/10       397,346          9,403

AlixPartners, LLP        03/01/10-
                          05/31/10       867,954          7,419

Moelis & Company serves as the Committee's investment banker.
Zuckerman serves as the Committee's counsel.  Chadbourne & Parke
and Landis Rath act as the Committee's co-counsel.  AlixPartners
acts as the Committee's financial advisor.  Moelis & Company is
the Committee's investment banker.  Zuckerman serves as the
Committee's counsel.

                       Fee Examiner's Report

Stuart Maue, in its capacity as fee examiner, recommends approval
of reimbursement of expenses for members of the Committee totaling
$5,281 for the period from January 1 to January 31, 2010.  Stuart
Maue also recommends approval of fees totaling $3,618,232 and
reimbursement of expenses for $116,215 of Chadbourne & Parke LLP
for the period from June 1 to August 31, 2009.  Chadbourne &
Parke's recommended fees reflect a $12,701 reduction while its
recommended expense reimbursement represents a $5,840 reduction.

                         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)


TRIBUNE CO: Tribune365 Names Theodore as Travel Sales & Mktg. Head
------------------------------------------------------------------
Tribune365, the national sales solutions group for Tribune
Company, named Lisa Theodore to head up the company's travel and
international sales and marketing team.  In this new role as vice
president/travel and international, Ms. Theodore is charged with
creating the strategy and organizing the company's sales resources
to best address the changing needs of the travel and international
markets.

"Lisa brings an impressive track record and impeccable reputation
as a true innovator in the field of travel media," said Don Meek,
executive vice president/chief revenue officer for the company's
interactive and publishing divisions.  "Her energy and enthusiasm,
along with her world-class relationships, make her the perfect
candidate for this important new role."

Prior to Tribune, Ms. Theodore was publisher of Resorts & Great
Hotels Magazine and has worked at the French Government Tourist
Office, ACCOR International Hotels in the Caribbean and was the
vice president/sales and marketing of Wingate Inns International.

"I'm thrilled to be a part of a dynamic, forward-looking company
like Tribune," said Ms. Theodore.  "Having the ability to connect
our clients with affluent travel buyers throughout all the cycles
of the decision-making process -- using TV, radio, print, digital,
mobile and events -- is very exciting."

Ms. Theodore will be based in Tribune's New York sales office.

                        About Tribune365

Tribune365 National Solutions Group is the new national, cross-
platform sales organization for Tribune Company, offering
advertisers customized, innovative, multi-market solutions across
all media platforms, including TV, print, digital, mobile, direct
and event marketing.  For more information about
Tribune365, visit http://www.trb365.com/

                         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)


TRUMP ENTERTAINMENT: Appoints New Board of Directors
----------------------------------------------------
In connection with the consummation of the Plan of Reorganization
of Trump Entertainment Resorts, Inc. and certain of its direct and
indirect subsidiaries, effective as of July 16, 2010, Edward H.
D'Alelio, James J. Florio, Harry C. Hagerty, Michael A. Kramer and
Don M. Thomas were deemed to have resigned from their positions as
directors of the Company.

Pursuant to the Plan of Reorganization, a new board of directors
of the Company was appointed effective as of July 16, 2010 ("the
Consummation Date"), consisting of the following directors: Mark
Juliano, Eugene Davis, Jeffrey Gilbert, Marc Lasry, David Licht,
Stephen McCall and Rob Symington.

Mr. Juliano was originally appointed to the board of directors of
the Company on February 27, 2008, and continued as a member of the
Company's board of directors pursuant to the Plan of
Reorganization.  Mr. Juliano has been the Company's Chief
Executive Officer since August 1, 2007.

Mr. Davis is Chairman and Chief Executive Officer of Pirinate
Consulting Group, LLC, a privately held consulting firm
specializing in turnaround management, merger and acquisition
consulting and hostile and friendly takeovers, proxy contests and
strategic planning advisory services for domestic and
international public and private business entities.

Mr. Gilbert is President and principal shareholder of Preferred
Gaming & Entertainment, Inc., a licensed distributor and lessor of
gaming devices and casino equipment.

Mr. Lasry is the Chairman, Chief Executive Officer and a Co-
Founder of Avenue Capital Group.  He is also a co-founder of Amroc
Investments LLC.

Mr. Licht is a Senior Vice President of Avenue Capital Group U.S.
Funds.

Mr. McCall has 15 years of private equity investing experience
focused on growth capital and buyout investments.  He founded and
is currently a Managing Member of Blackpoint Equity Partners LLC,
a private equity investment firm.

Mr. Symington was appointed to the board of directors of the
Company on July 16, 2010, pursuant to the Plan of Reorganization.
Mr. Symington is a Senior Portfolio Manager at Avenue Capital
Group.

Messrs. Juliano, Davis, Gilbert, Lasry, Licht, McCall and
Symington were designated by the Ad Hoc Committee to serve on the
initial board of directors pursuant to the Plan of Reorganization
and took office (in the case of Mr. Juliano, continued in office)
on July 16, 2010.  The board of directors has not yet determined
committee appointments for the new directors.

Messrs. Lasry, Licht and Symington are officers of Avenue Capital
Group.  As a result of the transactions contemplated by the Plan
of Reorganization and consummated on July 16, 2010, an entity
affiliated with Avenue Capital Group, acting solely in its
capacity as investment advisor to certain funds, beneficially owns
approximately 21.7% of the new common stock issued by the Company
pursuant to the Plan of Reorganization (which new common stock is
currently held in trust as required by the interim casino
authorization provisions of the New Jersey Casino Control Act).

                     About Trump Entertainment

Based in Atlantic City, New Jersey, Trump Entertainment Resorts
Inc. (NASDAQ: TRMP) -- http://www.trumpcasinos.com/-- owns and
operates three casino hotel properties in Atlantic City, New
Jersey, which include Trump Taj Mahal Casino Resort, Trump Plaza
Hotel and Casino, and Trump Marina Hotel Casino.  The Company
conducts gaming activities and provides customers with casino
resort and entertainment.

Donald Trump is a shareholder of the Company and, as its non-
executive Chairman, is not involved in the daily operations of the
Company.  The Company is separate and distinct from Mr. Trump's
privately held real estate and other holdings.

Trump Entertainment Resorts, TCI 2 Holdings, LLC, and other
affiliates filed for Chapter 11 on February 17, 2009 (Bankr. D.
N.J., Lead Case No. 09-13654).  The Company has tapped Charles A.
Stanziale, Jr., Esq., at McCarter & English, LLP, as lead counsel,
and Weil Gotshal & Manges as co-counsel.  Ernst & Young LLP is the
Company's auditor and accountant and Lazard Freres & Co. LLC is
the financial advisor.  Garden City Group is the claims agent.
The Company disclosed assets of $2,055,555,000 and debts of
$1,737,726,000 as of December 31, 2008.

Trump Hotels & Casino Resorts, Inc., filed for Chapter 11
protection on Nov. 21, 2004 (Bankr. D. N.J. Case No. 04-46898
through 04-46925).  Trump Hotels' obtained the Court's
confirmation of its Chapter 11 plan on April 5, 2005, and in
May 2005, it exited from bankruptcy under the name Trump
Entertainment Resorts Inc.


TTR MATTESON: Case Summary & 8 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: TTR Matteson, LLC
        815 Merry Lane
        Oak Brook, IL 60523

Bankruptcy Case No.: 10-31879

Chapter 11 Petition Date: July 19, 2010

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: A. Benjamin Goldgar

Debtor's Counsel: Scott R. Clar, Esq.
                  Crane Heyman Simon Welch & Clar
                  135 S Lasalle, Suite 3705
                  Chicago, IL 60603
                  Tel: (312) 641-6777
                  Fax: (312) 641-7114
                  E-mail: sclar@craneheyman.com

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

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

The petition was signed by Timothy E. Gallagher, managing member.

Debtor's List of 8 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
ADT Securities                                   $4,133
P.O. Box 371967
Pittsburgh, PA 15250

Blue Star Energy                                 $3,334
DEPT CH 19346
Palatine, IL 60055

Law Offices of Timm &                            $2,035
Garfinkle
770 Lake Cook Road, Suite 150
Deerfield, IL 60015

Home & Garden                                    $1,256

AT&T                                             $325

NICOR                                            $246

Village of Matteson                              $145

Nisen & Elliott LLC                              Unknown


UNITED AIR LINES: Bank Debt Trades at 12% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which United Air Lines,
Inc., is a borrower traded in the secondary market at 87.94 cents-
on-the-dollar during the week ended Friday, July 23, 2010,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  This represents an increase of 0.47
percentage points from the previous week, The Journal relates.
United Air pays 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 loan is
one of the biggest gainers and losers among 194 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 Air
Lines, 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).


US AIRWAYS: Inks New Codeshare Agreement With Turkish Airline
-------------------------------------------------------------
Customers of US Airways (NYSE: LCC) and Turkish Airlines will soon
enjoy greater travel options to Turkey and the U.S., thanks to a
new bilateral codeshare agreement between the two Star Alliance
carriers.  The agreement is subject to both U.S. Department of
Transportation (DOT) and Turkish government approval.  A bilateral
codeshare agreement is when an airline markets flights operated by
theother carrier as if the flying were its own.

First, US Airways customers will have access to Istanbul via
Turkish Airlines service from Frankfurt, Munich and Zurich.  Next,
customers gain access to four new destinations in Turkey via
Istanbul: Adana, Izmir, Antalya and Ankara.  And finally, US
Airways customers may opt for nonstop travel to Istanbul via
Turkish Airlines service at New York's John F. Kennedy
International Airport and Chicago O'Hare International Airport.

Conversely, Turkish Airlines customers gain access to Charlotte,
Philadelphia and Phoenix via US Airways, flying from Frankfurt,
Munich, Zurich, Chicago O'Hare and New York-JFK.

Customers of both carriers can also expect the same convenient
single-source booking, ticketing and baggage connections, as with
all codeshare flying.

US Airways Senior Vice President, Marketing and Planning Andrew
Nocella, said, "This new partnership boosts convenience for air
travel between the U.S. and Turkey, and we're excited to bring it
to US Airways customers.  And thanks to Star Alliance membership,
customers may also accrue and redeem Dividend Miles on Turkish
Airlines-operated flights and enjoy Turkish Airlines lounge
access."

                      About US Airways

US Airways -- http://www.usairways.com/-- along with US Airways
Shuttle and US Airways Express, operates more than 3,000 flights
per day and serves more than 190 communities in the U.S., Canada,
Mexico, Europe, the Middle East, the Caribbean, Central and South
America.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another Chapter 11 petition
on September 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represented the
Debtors in their restructuring efforts.  The USAir II bankruptcy
plan became effective on September 27, 2005.  The Debtors
completed their merger with America West on the same date. (US
Airways Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                       *     *     *

US Airways Group carries Moody's "Caa1" Long-Term rating, LT Corp.
family rating and probability of default rating.  Outlook is
negative.

US Airways Group carries Standard & Poor's "B-" LT Foreign Issuer
Credit rating and LT Local Issuer credit rating.  Outlook is also
negative.

US Airways Group carries Fitch's "CCC" LT Issuer default rating
and "C" Senior unsecured debt rating.  Outlook is also negative.


US AIRWAYS: Reports Second Quarter Profit of $279 Million
---------------------------------------------------------
US Airways Group, Inc. (NYSE: LCC) reported its second quarter
financial results.  On a GAAP basis, the Company reported a net
profit of $279 million for its second quarter 2010, or $1.41 per
diluted share, compared to a net profit of $58 million, or $0.42
per diluted share, for the same period in 2009.

Excluding special items totaling a credit of $14 million, net
profit for the second quarter 2010 was $265 million, or $1.34 per
diluted share.  Net loss excluding special items for the second
quarter 2009 was $95 million, or ($0.77) per share.

US Airways Group, Inc. Chairman and CEO Doug Parker stated, "We
are extremely pleased to report our second highest quarterly
profit since our 2005 merger.  Over the past three years, US
Airways has taken the steps required to return to profitability,
including reducing capacity, maintaining cost discipline,
increasing ancillary revenues, and establishing industry-leading
operational reliability.  Those steps, combined with an improving
economic environment, have led to these results.

"This turnaround is due in large part to the efforts of our 31,000
hard-working team members.  We continue to do an outstanding job
of taking care of our customers, including ranking first among the
five network airlines for the month of May in on-time performance,
baggage handling and customer satisfaction as measured by the U.S.
Department of Transportation (DOT).  We are particularly pleased
that today's results include an $18 million accrual for employee
profit sharing and $9 million for our team members in operational
incentive payments."

                  Revenue and Cost Comparisons

Total revenues in the second quarter were up 19.3 percent versus
the second quarter 2009.  This improvement was driven by higher
passenger yields due to an improving economy resulting in greater
demand for business travel.  Total revenue per available seat mile
was 14.37 cents, up 18.9 percent versus the same period last year.

Total operating expenses in the second quarter were up 10.4
percent over the same period last year due primarily to a
38.7 percent increase in mainline and Express fuel expense.
Mainline cost per available seat mile (CASM) in the second quarter
was 11.48 cents, up 10.0 percent versus the same period last year.
Excluding fuel and special items, mainline CASM was 8.18 cents,
up 0.5 percent from the same period last year, on a 0.7 percent
increase in mainline ASMs.  Excluding fuel, special items and
profit sharing, mainline CASM was 8.08 cents, down 0.7 percent
from the same period last year.  Express CASM excluding fuel and
special items was 13.49 cents, up 3.3 percent on a 1.3 percent
decline in ASMs.

                           Liquidity

The Company's unrestricted cash and investments balance increased
by $451 million to $2.1 billion versus March 31, 2010.  As of
June 30, 2010, the Company had approximately $2.5 billion in total
cash and investments, of which $442 million was restricted.  This
is the Company's highest quarter-ending total and unrestricted
cash balance since the second quarter 2008.

                          Special Items

During the second quarter, the Company recognized $10 million of
operating net special credits, consisting of a $17 million refund
of Aviation Security Infrastructure Fees (ASIF) paid to the
Transportation Security Administration (TSA) during the years 2005
to 2009, offset by $7 million in net special charges which
included a settlement and corporate transaction costs.  The second
quarter also included $4 million of net realized gains related to
sales of certain investments in auction rate securities, which
were classified in non-operating expense, net.

                        Business Outlook

Mr. Parker continued, "We are encouraged by the economic recovery
we have seen thus far, and are extremely pleased with our team's
results.  Looking forward, and based on current business and
economic conditions, we expect to report a profit for the third
quarter and full year 2010."

                  Other Notable Accomplishments

Marketing and Other Customer Initiatives

    * Completed deployment of Gogo(R) Inflight Internet on its
      51 Airbus A321 aircraft.  Now passengers can use their
      laptops or Wi-Fi enabled mobile devices to surf the Web,
      email friends and family, log into corporate Virtual
      Private Networks (VPN) and access online entertainment
      options.

    * Moved to a cashless cabin for purchases on board mainline
      domestic flights.  Accepting only credit and debit cards
      in-flight expedites the cabin service process and reduces
      back-end processing time and costs.

    * Announced new codeshare agreement with Brazil's TAM
      Airlines.  For US Airways customers, this agreement will
      eventually provide a convenient, single-source booking,
      ticketing and baggage connection option for many new
      destinations inside Brazil, including Sao Paulo, Salvador,
      Recife and Brasilia through TAM's Rio de Janeiro hub.  The
      agreement has received DOT approval and the Company is
      working with TAM to secure regulatory approval from
      Brazil.

    * Announced a major expansion of its bilateral codeshare
      agreement with Star Alliance partner Spanair.  By way of
      Spanair's Madrid and Barcelona hubs, US Airways customers
      now have seamless access to destinations within Spain, the
      Canary Islands, continental Europe, and Africa.

    * After nearly 24 months of normal attrition, the Company
      announced that it is recalling 300 pilots and flight
      attendants.  Bringing back these aviation professionals
      will also help the Company continue to deliver industry-
      leading reliability and service.

New Destinations and Flights

    * Entered into a definitive agreement with United Airlines
      that will provide US Airways the necessary frequencies to
      permit US Airways (subject to receipt of all regulatory
      approvals) to begin service between Charlotte and Sao
      Paulo, Brazil in the second half of 2011.

    * New service from the company's hub in Charlotte, N.C.

       * Initiated new, year-round trans-Atlantic service to
         Rome's Fiumicino Airport

       * Inaugurated new nonstop, year-round service to Ottawa,
         Ontario

       * Began daily year-round service to Los Cabos and Puerto
         Vallarta, Mexico

      * Resumed daily nonstop service to Baton Rouge, La.

      * Converted seasonal service to Paris (Charles de Gaulle)
        to new, year-round service

    * New service from the company's hub at Philadelphia
      International Airport

      * Converted seasonal service from Philadelphia to both
        Brussels and Zurich to year-round service

      * Launched daily year-round service to Halifax, Nova
        Scotia

      * Began daily seasonal service to Anchorage, Alaska

             Analyst Conference Call/Webcast Details

US Airways conducted a live audio webcast of its earnings call
last July 21, 2010.  An archive of the call/webcast is available
in the Public/Investor Relations portion of the Web site through
Aug. 21, 2010.

A full-text copy of US Airways' 2nd quarter 2010 financial
results is available for free at:

              http://ResearchArchives.com/t/s?66db


                     US Airways Group, Inc.
               Condensed Consolidated Balance Sheet
                      As of June 30, 2010

Assets
Current Assets
  Cash and cash equivalents                      $1,814,000,000
  Investments in marketable securities              180,000,000
  Accounts receivable, net                          394,000,000
  Materials and supplies, net                       226,000,000
  Prepaid expenses and other                        500,000,000
                                                 --------------
Total current assets                              3,114,000,000
Property and equipment
  Flight equipment                                4,104,000,000
  Ground property and equipment                     876,000,000
  Less accumulated depreciation and amortization (1,254,000,000)
                                                 --------------
                                                  3,726,000,000
  Equipment purchase deposits                        63,000,000
                                                 --------------
  Total property and equipment                    3,789,000,000
Other assets
  Other intangibles, net                            490,000,000
  Restricted cash                                   442,000,000
  Investments in marketable securities               59,000,000
  Other assets                                      237,000,000
                                                 --------------
     Total other assets                           1,228,000,000
                                                 --------------
        Total assets                             $8,131,000,000
                                                 ==============

Liabilities and Stockholders' Deficit

Current liabilities
  Current maturities of debt and capital leases    $475,000,000
  Accounts payable                                  370,000,000
  Air traffic liability                           1,215,000,000
  Accrued compensation and vacation                 212,000,000
  Accrued taxes                                     211,000,000
  Other accrued expenses                            851,000,000
                                                 --------------
     Total current liabilities                    3,334,000,000

Noncurrent liabilities and deferred credits
  Long-term debt and capital leases               4,061,000,000
  Deferred gains and credits, net                   344,000,000
  Postretirement benefits other than pensions       129,000,000
  Employee benefit liabilities and other            431,000,000
                                                 --------------
Total noncurrent liabilities and deferred credits 4,965,000,000

Stockholders' Deficit
Common stock                                          2,000,000
Additional paid-in capital                        2,114,000,000
Accumulated other comprehensive income               35,000,000
Accumulated deficit                              (2,306,000,000)
Treasury stock                                      (13,000,000)
                                                 --------------
  Total stockholders' deficit                      (168,000,000)

Total liabilities and stockholders' deficit      $8,131,000,000
                                                 ==============

                     US Airways Group, Inc.
        Condensed Consolidated Statement of Operations
              For Three Months Ended June 30, 2010

Operating revenues:
  Mainline passenger                             $2,036,000,000
  Express passenger                                 767,000,000
  Cargo                                              37,000,000
  Other                                             331,000,000
                                                 --------------
Total operating revenues                         3,171,000,000
Operating expenses:
  Aircraft fuel and related taxes                   616,000,000
  Loss(gain) on fuel hedging instruments, net                 0
  Salaries and related costs                        573,000,000
  Express expenses                                  683,000,000
  Aircraft rent                                     169,000,000
  Aircraft maintenance                              162,000,000
  Other rent and landing fees                       135,000,000
  Selling expenses                                  107,000,000
  Special items, net                                 (9,000,000)
  Depreciation and amortization                      63,000,000
  Other                                             301,000,000
                                                 --------------
     Total operating expenses                     2,800,000,000

       Operating Income                             371,000,000

Non-operating income(expense):
  Interest income                                     3,000,000
  Interest expense, net                             (86,000,000)
  Other, net                                         (9,000,000)
                                                 --------------
      Total non-operating expense, net              (92,000,000)
                                                 --------------
Income (loss) before income taxes                   279,000,000
  Income tax provision                                        0
                                                 --------------
Net income (loss)                                  $279,000,000
                                                 ==============

                     US Airways Group, Inc.
         Condensed Consolidated Statement of Cash Flow
             For Six Months Ended June 30, 2010

Net cash provided by operating activities          $739,000,000

Cash flows from investing activities:
  Purchases of property and equipment               (94,000,000)
  Purchases of marketable securities               (180,000,000)
  Sales of marketable securities                    143,000,000
  Decrease in long-term restricted cash              38,000,000
  Proceeds from sale-leaseback transactions           2,000,000
                                                 --------------
Net cash used in investing activities               (91,000,000)

Cash flows from financing activities:

  Repayments of debt and capital lease obligations (220,000,000)
  Proceeds from issuance of debt                     90,000,000
  Deferred financing costs                           (3,000,000)
                                                 --------------
Net cash provided by financing activities          (133,000,000)

Net increase in cash and cash equivalents           515,000,000

Cash and cash equivalents at beginning period     1,299,000,000
                                                 --------------
Cash and cash equivalents at end of period       $1,814,000,000
                                                 ==============

                      About US Airways

US Airways -- http://www.usairways.com/-- along with US Airways
Shuttle and US Airways Express, operates more than 3,000 flights
per day and serves more than 190 communities in the U.S., Canada,
Mexico, Europe, the Middle East, the Caribbean, Central and South
America.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another Chapter 11 petition
on September 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represented the
Debtors in their restructuring efforts.  The USAir II bankruptcy
plan became effective on September 27, 2005.  The Debtors
completed their merger with America West on the same date. (US
Airways Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                       *     *     *

US Airways Group carries Moody's "Caa1" Long-Term rating, LT Corp.
family rating and probability of default rating.  Outlook is
negative.

US Airways Group carries Standard & Poor's "B-" LT Foreign Issuer
Credit rating and LT Local Issuer credit rating.  Outlook is also
negative.

US Airways Group carries Fitch's "CCC" LT Issuer default rating
and "C" Senior unsecured debt rating.  Outlook is also negative.


US AIRWAYS: Provides Investor Relations Update
----------------------------------------------
US Airways Group, Inc., delivered to the U.S. Securities and
Exchange Commission on July 21, 2010, a report updating its
financial and operational outlook for 2010:

    * 2010 Capacity Guidance -- For 2010, total system capacity
      is expected to be up slightly.  Mainline is forecast to be
      up approximately one percent, with domestic down
      approximately one to two percent and international up
      approximately eight to nine percent.  Express is expected
      to be down approximately one to two percent.

    * Cash -- As of June 30, 2010, the Company had approximately
      $2.5 billion in total cash and investments, of which
      $0.4 billion was restricted.  In addition, as of June 30,
      2010, the Company's auction rate securities had a book value
      of $59 million ($93 million par value).  While these
      securities are held as investments in non-current
      marketable securities on our balance sheet, they are
      included in our unrestricted cash calculation.

    * Fuel -- For the third quarter 2010, the Company anticipates
      paying between $2.16 and $2.21 per gallon of mainline jet
      fuel (including taxes).

    * Profit Sharing/CASM -- Profit sharing equals 10% of pre-tax
      earnings excluding special items up to a 10% pre-tax
      margin and 15% above the 10% margin.

    * Cargo/Other Revenue -- Cargo revenue, ticket change fees,
      excess/overweight baggage fees, first and second bag fees,
      contract services, simulator rental, airport clubs,
      Materials Services Company (MSC), and inflight service
      revenues.  The Company's a la carte revenue initiatives
      are expected to generate in excess of $500 million in
      revenue in 2010.

    * Taxes/NOL -- As of December 31, 2009, net operating losses
      (NOL) available for use by the Company is approximately
      $2.1 billion, all of which is expected to be available for
      use in 2010.  The Company's net deferred tax asset, which
      includes the NOL, is subject to a full valuation
      allowance.  As of December 31, 2009, the valuation
      allowances associated with Federal and state NOL are
      $546 million and $77 million.

The Company reported income for the six months ended June 30,
2010, and utilized NOL to offset its income tax obligation.  In
accordance with generally accepted accounting principles,
utilization of NOL results in a corresponding decrease in the
valuation allowance and offsets the Company's tax provision dollar
for dollar.  As a result, income tax expense is not recognized in
the Company's statement of operations.

To the extent profitable for the full year 2010, the Company will
use additional NOL to reduce federal and state taxable income.
The Company does not expect to be subject to AMT Liability in 2010
as a result of certain elections the Company made under the
Worker, Homeownership, and Business Assistance Act of 2009.  The
Company could be obligated to record and pay state income tax
related to certain states where NOL may be limited or not
available to be used, if profitable in 2010.  Current estimates of
the Company's obligations for certain state income tax are less
than $1 million for the year.

A full-text copy of the investor relations update is available
for free at http://ResearchArchives.com/t/s?66d8

                      About US Airways

US Airways -- http://www.usairways.com/-- along with US Airways
Shuttle and US Airways Express, operates more than 3,000 flights
per day and serves more than 190 communities in the U.S., Canada,
Mexico, Europe, the Middle East, the Caribbean, Central and South
America.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another Chapter 11 petition
on September 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).  Brian
P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J. Canning,
Esq., at Arnold & Porter LLP, and Lawrence E. Rifken, Esq., and
Douglas M. Foley, Esq., at McGuireWoods LLP, represented the
Debtors in their restructuring efforts.  The USAir II bankruptcy
plan became effective on September 27, 2005.  The Debtors
completed their merger with America West on the same date. (US
Airways Bankruptcy News; Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).

                       *     *     *

US Airways Group carries Moody's "Caa1" Long-Term rating, LT Corp.
family rating and probability of default rating.  Outlook is
negative.

US Airways Group carries Standard & Poor's "B-" LT Foreign Issuer
Credit rating and LT Local Issuer credit rating.  Outlook is also
negative.

US Airways Group carries Fitch's "CCC" LT Issuer default rating
and "C" Senior unsecured debt rating.  Outlook is also negative.


VILLAGE PARK: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: The Village Park, LLC
        c/o Witsop Development Group, LLC
        150 Longwater Drive, Suite 202
        Norwell, MA 02061

Bankruptcy Case No.: 10-17774

Chapter 11 Petition Date: July 19, 2010

Court: United States Bankruptcy Court
       District of Massachusetts (Boston)

Judge: Joan N. Feeney

Debtor's Counsel: John M. McAuliffe, Esq.
                  McAuliffe & Associates, P.C.
                  430 Lexington Street
                  Newton, MA 02466
                  Tel: (617) 558-6889
                  E-mail: mcauliffeassociates@hotmail.com

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

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

The Company did not file a list of creditors together with its
petition.

The petition was signed by James V. O'Brien, president of JVO
Corp, manager of Witsop Dev., LLC, manager.


VISTEON CORP: Alvares & Marsal Bills $4 Mil. for March-May Work
---------------------------------------------------------------
Pursuant to Sections 330 and 331 of the Bankruptcy Code, Visteon
Corp.'s professionals filed interim fee applications.

  Professional             Period          Fees       Expenses
  ------------            ---------     ----------   ----------
Alvarez & Marsal North   03/01/10-
America, LLC             05/31/10     $4,041,676     $286,962

PricewaterhouseCoopers   03/01/10-
LLP                      05/31/10        636,663       25,529

Dickinson Wright Pllc    03/01/10-
                          05/31/10        222,496        3,330

Kirkland & Ellis LLP     03/01/10-
                          05/31/10      5,841,730      130,367

Alvarez & Marsal is the Debtors' restructuring advisor.  PwC acts
as the Debtors' auditors.

        Alston & Bird Seeks to File June Fees Under Seal

Alston & Bird LLP seeks the Court's authority to file under seal
its application for allowance of compensation and reimbursement
of expenses for the period from June 1 to 30, 2010.

As special litigation counsel to the Debtors, Alston & Bird
asserted certain patent infringement claims against TomTom NV.
In settlement of the TomTom Claims, Alston & Bird negotiated a
license agreement between the Debtors and TomTom dated April 23,
2010, pursuant to which the Debtors provided TomTom with a
retroactive and prospective, non-exclusive license with respect
to certain U.S., European, and Canadian patents relating to
global positioning system devices and other inventions.  Alston &
Bird reveals that because the terms of the TomTom License
Agreement constitute valuable commercial information, the Court
allowed the Debtors to file the TomTom Agreement under seal.

Accordingly, Alston & Bird also seeks to file its initial fee
application and future fee applications under seal because they
contain confidential, commercial information relevant to the
TomTom License Agreement and the Patent Infringement Claims.

                   Committee's Professionals

FTI Consulting, Inc., financial advisors to the Official
Committee of Unsecured Creditors, seeks payment of fees for
$200,000 and reimbursement of expenses for $199 for the period
from May 1 to 2010.

Four more Committee professionals also seeks approval of their
interim fee applications for the period from March to May 2010.
They are:

Professional              Period          Fees       Expenses
------------             ---------     ----------   ----------
FTI Consulting, Inc.     03/01/10-
                         05/31/10        $601,033        $232

Brown Rudnick LLP        03/01/10-
                         05/31/10       1,328,195      57,288

Ashby & Geddes, P.A.     03/01/10-
                         05/31/10         142,748       8,400

Chanin Capital           03/01/10-
Partners, LLC            05/31/10         450,000       7,179

Brown Rudnick and Ashby & Geddes are the Committee's counsel.
Chanin Capital and FTI Consulting act as the Committee's
financial advisors.

The Committee certified to the Court that no objection was filed
as to the fee application of Chanin Capital for April 2010.

                          *     *     *

Bankruptcy Judge Christopher Sontchi awarded Brown Rudnick LLP its
fees for $1,228,750 for services rendered for December 2009 to
February 2010 and the reimbursement of its expenses, totaling
$105,256, for the same fee period.

                         About Visteon Corp.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The Company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of US$4,561,000,000 and
debts of US$5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


VISTEON CORP: Court Okays Additional Work for PwC
-------------------------------------------------
Visteon Corp. and its units received authority from U.S.
Bankruptcy Judge Christopher Sontchi to expand the scope of the
original Court-approved application of PricewaterhouseCoopers LLP
to include auditing and accounting services for fiscal year 2010
and for the period January 1, 2010, through the date of their
emergence from bankruptcy pursuant to a supplemental engagement
letter dated May 27, 2010.

The additional services to be undertaken by PwC include:

  (a) the performance of an integrated audit of the consolidated
      financial statements of the Debtors at December 31, 2010,
      and for the year then ending, and of the Debtors' internal
      control over financial reporting as of December 31, 2010;

  (b) the performance of reviews of the Debtors' unaudited
      consolidated quarterly financial information for each of
      the first three quarters of the year ending December 31,
      2010, before the Form 10-Q is filed, and communicating to
      the audit committee and management any matters that come
      to PwC's attention as a result of the review that PwC
      believes may require material modifications to the
      quarterly financial information to make it conform with
      accounting principles generally accepted in the United
      States;

  (c) the performance of an audit of the Debtors' consolidated
      financial statements for the period from January 1, 2010,
      to the date of their emergence from bankruptcy; and

  (d) consultation on other accounting and auditing matters as
      requested by the Debtors that may arise from non-routine
      matters, transactions, and activities, including, without
      limitation, restructuring events, liquidity and
      recapitalization events, and disposition of businesses.

The Debtors will pay PwC a fixed fee schedule for the 2010 Audit
Services:

             Invoice Date               Amount
             ------------              --------
               05/26/10                $700,000
               06/09/10                 400,000
               07/07/10                 500,000
               08/04/10                 400,000
               09/08/10                 400,000
               10/06/10                 500,000
               11/10/10                 300,000
               12/08/10                 200,000
               01/05/11                 400,000
               02/02/11                 300,000

The Debtors will also reimburse PwC's actual and necessary costs
and expenses.

PwC assures the Court that it is a "disinterested person" as that
term is defined under Section 101(14) of the Bankruptcy Code.

                         About Visteon Corp.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The Company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of US$4,561,000,000 and
debts of US$5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


VISTEON CORP: Equity Holders Want Data to Formulate Bids
--------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission dated July 19, 2010, the Davidson Kempner
Filing Persons, the Brigade Filing Persons, and Plainfield Filing
Persons disclosed that on July 15, 2010, a letter was sent to
Visteon Corporation's outside counsel on behalf of the Ad Hoc
Equity Committee.

The letter essentially relays the request of the Ad Hoc Equity
Committee that Visteon provides it, Johnson Controls, Inc., Halla,
Hyundia, HIG Capital, and Bayside Capital access to Visteon's
data room so that they may be able to formulate offers for
Visteon' estates.  The mentioned entities have previously
expressed interest in all or parts of Visteon.

The Ad Hoc Equity Committee believes that the collective subset
of the "interested entities" can provide an overall offer for the
entirety of the Visteon estates which will pay all creditors in
full and provide a return for shareholders.

                         About Visteon Corp.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The Company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of US$4,561,000,000 and
debts of US$5,311,000,000 as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represent the Debtors in their restructuring
efforts.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, serve as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor is Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent is Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor is Alvarez & Marsal North America,
LLC.

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


VISTEON CORP: Extends Global Support for New Ford Fiesta
--------------------------------------------------------
Visteon Corp. said that the new 2011 Ford Fiesta that goes on sale
in the United States this summer features an exciting range of
products from Visteon designed to enhance the Fiesta driving
experience.

Visteon's global engineering and manufacturing teams are
supporting the U.S. launch of the Fiesta, which was Europe's top-
selling vehicle in the first quarter of 2010.  Visteon has
supported Ford's global Fiesta platform -- originally in Europe,
most recently in Asia and now with the vehicle's U.S. debut.

Visteon supplies Ford's exciting new small car with advanced
electronics including the audio head unit, instrument cluster and
several multi-function displays consolidating driver information,
audio and entertainment controls into one center panel.  Through
its global operations, Visteon also provides a wide range of
climate products designed to enhance Fiesta's passenger comfort,
including the compressor, condenser, fluid transport lines, and
the heating, ventilation and air conditioning unit.

"Visteon's ability to supply products for the Fiesta across
regions allows us to cost-effectively support this vehicle known
for outstanding driving performance, design and value," said
Randy Sanders, Visteon's vice president, Ford customer group.
"As the Fiesta continues to expand to North America and other
regions, our highly regarded engineering and manufacturing
footprint positions Visteon to support ongoing market growth."

                         About Visteon Corp.

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is a global automotive
supplier that designs, engineers and manufactures innovative
climate, interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The Company has corporate offices in
Van Buren Township, Michigan (U.S.); Shanghai, China; and Kerpen,
Germany.  It has facilities in 27 countries and employs roughly
35,500 people.  The Company has assets of US$4,561,000,000 and
debts of US$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)


VITRO SAB: Presents Revised Proposal for Debt Restructuring
-----------------------------------------------------------
Vitro S.A.B. de C.V. said that members of the Finance and Planning
Committee of the Company met again with representatives from the
Company's Ad Hoc Bondholder Committee in New York City.

During the meeting, the Company presented a revised
counterproposal and outlined its envision process for reaching a
consensual restructuring agreement.  The cornerstone of the
Company's consensual approach to the market is a broad creditor
outreach effort in the form of a consent solicitation for a debt
restructuring.  The Company expects that it will be in a position
to formally launch the Consent in the market by early August 2010.

Vitro believes that the Consent will assure the medium and long
term sustainability of the Company, significantly enhancing the
worthiness of its restructured debt.

Vitro also believes that the Consent that will be submitted,
represents a higher recovery than the average market price for the
last six months of the senior notes due 2012, 2013 and 2017.

The Company intends to continue to negotiate with the Ad Hoc
Bondholder Committee in an effort to secure their support of the
Consent in advance of its launch but there can be no assurances
that such support will be achieved.  Finally, Vitro remains
committed to a consensual restructuring process and is working
diligently on finalizing and launching its Consent as quickly as
possible.

                         About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a global
glass producer, serving the construction and automotive glass
markets and glass containers needs of the food, beverage, wine,
liquor, cosmetics and pharmaceutical industries.

                          *     *     *

In June 2010, Fitch Ratings withdrew all ratings of Vitro, S.A.B.
de C.V., given the lack of information following the company's
default on Feb. 2, 2009, and consistent with Fitch's policies.
Fitch will no longer provide ratings or credit research on the
Company.

Andres R. Martinez at Bloomberg News said in June that Vitro was
suspended from trading in Mexico City after failing to file its
fourth-quarter earnings report.  The company missed June 2's
deadline for the results, Mexico's stock exchange said in an
e-mailed statement obtained by the news agency.  Vitro plans to
file the report once its debt restructuring is complete or if
ordered by a judge.  Vitro said that the suspension won't affect
company operations.

In June 30, 2009, Galaz, Yamazaki, Ruiz Urquiza, S.C., member of
Deloitte Touche Tohmatsu and C.P.C. Jorge Alberto Villarreal in
Monterrey, N.L., Mexico raised substantial doubt about the
Company's ability to continue as a going concern after auditing
financial results for the period ended Dec. 31, 2007, and 2008.
The auditors pointed out to the Company's net loss and its non-
compliance with covenants related to its long-term debt
obligations.


WEST CORP: Bank Debt Trades at 6% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which West Corporation
is a borrower traded in the secondary market at 94.03 cents-on-
the-dollar during the week ended Friday, July 23, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.87 percentage
points from the previous week, The Journal relates.  The Company
pays 237.5 basis points above LIBOR to borrow under the facility.
The bank loan matures on May 11, 2013, and carries Moody's B1
rating and Standard & Poor's BB- rating.  The loan is one of the
biggest gainers and losers among 194 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

Founded in 1986 and headquartered in Omaha, Nebraska, West
Corporation -- http://www.west.com/-- provides outsourced
communication solutions to many of the world's largest companies,
organizations and government agencies.  West Corporation has a
team of 41,000 employees based in North America, Europe and Asia.


WEST CORP: Bank Debt Trades at 4% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which West Corporation
is a borrower traded in the secondary market at 95.81 cents-on-
the-dollar during the week ended Friday, July 23, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.81 percentage
points from the previous week, The Journal relates.  The Company
pays 387 basis points above LIBOR to borrow under the facility,
which matures on July 1, 2016.  The bank debt carries Moody's B1
rating while it is not rated by Standard & Poor's.  The loan is
one of the biggest gainers and losers among 194 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Founded in 1986 and headquartered in Omaha, Nebraska, West
Corporation -- http://www.west.com/-- provides outsourced
communication solutions to many of the world's largest companies,
organizations and government agencies.  West Corporation has a
team of 41,000 employees based in North America, Europe and Asia.


WILD GAME: Files for Bankruptcy to Avert Suspension of License
--------------------------------------------------------------
The Associated Press reports that Wild Game LLC filed for
bankruptcy under Chapter 11 in the U.S. Bankruptcy Court in the
Northern District of California to avoid the possible suspension
of its gambling license over delinquent casino taxes and fees.

Wild Game LLC operates the Siena Hotel Spa Casino.

The AP says Nevada gaming commissioners suspended the Company's
casino gambling license for not maintaining enough bankroll to pay
winnings and for falling delinquent on $153,000 in taxes, but they
immediately stayed the suspension so the casino could keep
operating under strict conditions.

The AP adds the casino owes $400,000 to NV energy and under a
separate deal must pay $50,000 every two weeks.

The Company blamed its casino's financial troubles on previous
management.  The casino inherited debts and a default notice in
December on a $50 million loan from Bar-K Inc. of Lafayette,
California.


WILLIAMSBURG FIRST: Closed; First Citizens Bank Assumes Deposits
----------------------------------------------------------------
Williamsburg First National Bank of Kingstree, S.C., was closed on
July 23, 2010, by the Office of the Comptroller of the Currency,
which appointed the Federal Deposit Insurance Corporation as
receiver.  To protect the depositors, the FDIC entered into a
purchase and assumption agreement with First Citizens Bank and
Trust Company, Inc., of Columbia, S.C., to assume all of the
deposits of Williamsburg First National Bank.

The five branches of Williamsburg First National Bank will reopen
during normal business hours as branches of First Citizens Bank
and Trust Company, Inc.  Depositors of Williamsburg First National
Bank will automatically become depositors of First Citizens Bank
and Trust Company, Inc.  Deposits will continue to be insured by
the FDIC, so there is no need for customers to change their
banking relationship in order to retain their deposit insurance
coverage.  Customers of Williamsburg First National Bank should
continue to use their existing branch until they receive notice
from First Citizens Bank and Trust Company, Inc. that it has
completed systems changes to allow other First Citizens Bank and
Trust Company, Inc. branches to process their accounts as well.

As of March 31, 2010, Williamsburg First National Bank had around
$139.3 million in total assets and $134.3 million in total
deposits.  First Citizens Bank and Trust Company, Inc., will pay
the FDIC a premium of 0.5 percent to assume all of the deposits of
Williamsburg First National Bank.  In addition to assuming all of
the deposits of the failed bank, First Citizens Bank and Trust
Company, Inc., agreed to purchase essentially all of the assets.

The FDIC and First Citizens Bank and Trust Company, Inc., entered
into a loss-share transaction on $64.4 million of Williamsburg
First National Bank's assets.  First Citizens Bank and Trust
Company, Inc., 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, 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 1-800-523-8209.  Interested parties also can
visit the FDIC's website at:

  http://www.fdic.gov/bank/individual/failed/williamsburgsc.html

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $8.8 million.  Compared to other alternatives, First
Citizens Bank and Trust Company, Inc.'s acquisition was the least
costly resolution for the FDIC's DIF.  Williamsburg First National
Bank is the 99th FDIC-insured institution to fail in the nation
this year, and the fourth in South Carolina.  The last FDIC-
insured institution closed in the state was Woodlands Bank,
Bluffton, on July 16, 2010.


WINDSTREAM CORP: Bank Debt Trades at 2% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Windstream Corp.
is a borrower traded in the secondary market at 98.40 cents-on-
the-dollar during the week ended Friday, July 23, 2010, according
to data compiled by Loan Pricing Corp. and reported in The Wall
Street Journal.  This represents an increase of 0.82 percentage
points from the previous week, The Journal relates.  The Company
pays 275 basis points above LIBOR to borrow under the facility,
which matures on Dec. 17, 2015.  The bank debt is not rated by
Moody's while it carries Standard & Poor's BB+ rating.  The loan
is one of the biggest gainers and losers among 194 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 Feb. 8, 2010,
Standard & Poor's lowered its ratings on Little Rock, Arkansas-
based Windstream Corp., including the corporate credit rating,
which S&P lowered to "BB-" from "BB".  At the same time, S&P
removed all ratings on Windstream from CreditWatch with negative
implications, where they had been placed on Nov. 24, 2009,
following the announcement that the company had entered into a
definitive agreement to acquire Iowa Telecommunications Services
(B+/Stable/--) in a transaction valued at $1.1 billion.  The
outlook is stable.

At the same time, S&P lowered the issue-level ratings to "BB+"
from "BBB-" on these issues:

* Windstream's $2.9 billion senior secured credit facility;

* Valor Telecommunications Enterprises' $400 million notes due
  2015;

* Windstream Holdings of the Midwest Inc.'s $100 million notes due
  2028; and

* Windstream Georgia Communications Corp.'s $200 million
  debentures due 2013 (about $50 million currently outstanding.

The recovery rating on these issues remains unchanged at "1",
which indicates very high (90%-100%) expectations for recovery in
the event of payment default.

S&P also lowered the issue-level rating on Windstream's senior
unsecured debt to "B+" from "BB-" and left the recovery rating at
"5", which indicates expectations for modest (10%-30%) recovery in
the event of payment default.

Windstream, headquartered in Little Rock, AR, is an ILEC providing
telecommunications services in 16 states and generated about
$3.1 billion in annual revenues in the twelve months ended
June 30, 2009.


WYNN LAS VEGAS: Fitch Rates $1.32 Bil. Mortgage Notes at 'BB+'
--------------------------------------------------------------
Fitch rates Wynn Las Vegas, LLC's $1.32 billion 7.75% first
mortgage notes due 2020 'BB+' and has taken these rating actions
for Wynn Resorts, Ltd.  and its subsidiaries:

Wynn Resorts, Ltd.

  -- Issuer Default Rating upgraded to 'BB-' from 'B+'.

Wynn Las Vegas, LLC

  -- IDR upgraded to 'BB-' from 'B+';
  -- Senior secured bank credit facility affirmed at 'BB';
  -- Senior secured first mortgage notes affirmed at 'BB'.

Wynn Resorts (Macau), SA

  -- IDR upgraded to 'BB-' from 'B+';
  -- Senior secured bank credit facility affirmed at 'BB+'.

The IDR upgrade primarily reflects stronger-than-expected
performance at Wynn Macau SA since Fitch assigned a Positive
Outlook to Wynn's IDR following the completion of the Hong Kong
IPO in October 2009, and the improved maturity profile at Wynn LV
LLC following the refinancing of $1.32 billion of FMNs due 2014
with the new issuance of the 10-year 7.75% FMNs due 2020.  Fitch
has revised the Rating Outlook to Stable from Positive.

Wynn announced the $1.32 billion 7.75% FMN issuance at Wynn LV
LLC, which, along with a capital contribution from Wynn Resorts,
will fund a full tender of the outstanding FMNs due 2014.  Wynn LV
LLC will pay $1,004.38 for every $1,000 of par value, plus an
additional consent payment of $30 for proposed amendments
resulting in full consideration of $1,034.38.  The proposed
transactions are leverage and liquidity neutral, but will further
improve the company's already attractive maturity profile.  Pro
forma for the transactions, the only debt maturing at Wynn LV LLC
prior to 2017 is the $518 million credit facility, which had
$333 million outstanding, including terms loans and revolver, as
of March 31, 2010.  The company had $1.76 billion in cash as of
the end of 1Q'10.

The 'BB-' IDRs reflect the company's high consolidated gross
leverage in its Las Vegas subsidiary, a lack of diversification,
Fitch's expectation of a muted recovery in Las Vegas over the
near-term, event/development risk, and key management risk.

The IDRs and Stable Rating Outlook are supported by the company's
strong liquidity position, including a solid free cash flow (FCF)
profile, minimal near-term maturities, and consistently
demonstrated capital market access.  Additional credit support is
provided by the more reasonably leveraged Macau subsidiary, Wynn's
strong brand value and high asset quality, and management's focus
on balance sheet strengthening and debt maturity extensions since
the recession deepened in fall 2008.

Robust Macau Operating Trends:

Since Fitch assigned the Positive Outlook to Wynn in October 2009
and released its 2010 industry outlook in December 2009, the Macau
market has performed much stronger than Fitch expected in 2010.
Macau's market revenues were up 57% in 1Q'10 and 77% in 2Q'10,
well exceeding even the most robust forecasts heading into the
year.  On an LTM basis as of March 31, 2010, adjusted property
EBITDA in Macau was up to $569 million on 58% growth in 1Q'10, and
Fitch expects continued strong performance to be reflected in
Macau when the company reports 2Q'10 results next week.  The
Encore at Wynn Macau expansion opened on April 21, 2010, so it
should drive continued strong Wynn Macau SA results in upcoming
quarters.

Las Vegas Operating Trends Remain Soft:

Although Fitch expects Las Vegas Strip trends to improve in the
second half of 2010 (2H'10) and 2011, its base case incorporates a
muted recovery over the next 12-18 months.  In Fitch's view,
continued improvement in corporate/convention/group demand is a
critical aspect of recovery for Las Vegas Strip performance since
improved yields on midweek room demand will generate significant
positive operating leverage.  Although the market should begin to
see the benefit of this mix shift later this year and into 2011,
Fitch believes that the operating trend acceleration will be more
pronounced later in 2011 and into 2012.

With the expected opening of the 3,000-room Cosmopolitan in
December 2010, Fitch believes supply growth will continue to
pressure the market for the next 18 months, albeit at a
decelerating pace.  Following the CityCenter opening in December
2009, Fitch previously indicated that it expected a 'push-down'
effect of the supply increase on mid- and lower-scale properties.
The impact in 1Q'10 was even greater than expected, which has
benefited companies focused at the high-end (i.e.  Wynn and Las
Vegas Sands) compared to companies with broader exposure (i.e. MGM
and Harrah's).  In 1Q'10, comparable Las Vegas Strip adjusted
property EBITDA for MGM and Harrah's declined 24.4% and 11.6%,
respectively, while Wynn and LVS realized increases of 37.5% and
17.3%, respectively.

Yesterday, Wynn preannounced 2Q'10 adjusted property EBITDA at
Wynn LV LLC of $65 million or nearly a 14% decline, so in the two
full quarters since CityCenter opened, adjusted property EBITDA at
Wynn LV LLC is up about 5%.

Leverage and Coverage:

Fitch calculates consolidated gross leverage and coverage of 4.2
times (x) and 3.6x, respectively, as of March 31, 2010.  Driven by
the outperformance of Macau and Fitch's view of the continued
difficult Las Vegas operating environment, consolidated gross de-
leveraging has been better than expected.  At the subsidiary
level, Fitch calculates gross leverage at Wynn Macau SA was 1.6x
as of March 31, 2010, while Wynn LV LLC is in line with Fitch
expectations at 10.6x.

Liquidity and Free Cash Flow:

Wynn maintains a strong liquidity profile that was boosted by
$1.87 billion of proceeds from the Hong Kong IPO in October 2009.
As of March 31, 2010, the company had $2.6 billion of available
liquidity, consisting of $1.2 billion of cash held at Wynn
Resorts, $46.5 million of cash and $185 million of credit facility
availability at Wynn LV LLC, $510.5 million of cash and
$785 million of credit facility availability at Wynn Macau SA,
offset by Fitch's estimate of nearly $150 million in
cage/operational cash.

With the $575 million Encore at Wynn Macau expansion and the
$68 million Encore Beach Club project in Las Vegas completed in
2Q'10, capex can roll down to primarily maintenance levels in
upcoming quarters.  As a result, Fitch estimates the company has
the ability to generate north of $500 million of gross free cash
flow annually, which will fund roughly $120 million of regular
dividend payments that commenced in 2010, as well as additional
growth projects and investments.  The ability to re-invest in its
Las Vegas properties while other operators on the Strip are
constrained is a key near-term competitive advantage, in Fitch's
view.

Drivers of Future Rating Actions:

Current consolidated gross leverage and coverage levels are solid
for the 'BB-' IDR relative to Wynn's business risks.  The Stable
Outlook incorporates Fitch's positive operating outlook in Macau,
offset by the weaker Las Vegas outlook discussed above.

Rating actions are likely to revolve around Fitch's view of
potential upcoming development/investment opportunities, such as
the Macau Cotai Strip in the near-to-medium term, or on the Las
Vegas golf course in the long-term.  Positive ratings momentum
could follow additional clarity on the size, scope, and funding
plans of the company's next development project or other growth
investments, while the company continues to build cash.  Negative
ratings momentum could occur if Las Vegas operating trends
deteriorate significantly due to the supply pressure noted above
and/or the potential for global economic trends to deteriorate and
point to a double-dip recession.  However, there is ample cushion
for operating deterioration at the 'BB-' IDR.

Fitch Currently Links Wynn's IDRs:

As previously indicated, Fitch is currently linking the IDRs of
Wynn Resorts, Wynn LV LLC, and Wynn Macau SA.  The parent company
and subsidiaries are distinct issuers, the subsidiary debt is non-
recourse to the parent, and there are no cross-default provisions
or cross guarantees (other than if Chairman and CEO Steve Wynn
leaves the company).  However, the strategic linkage between the
parent and subsidiaries is very high, primarily due to the use of
the Wynn brand in the overall corporate strategy, the cross-
marketing for high-end Asian customers, and the common management
team.  In addition, the company has demonstrated intercompany
support through a number of transactions.

As credit quality improves, Fitch is likely to continue to link
the IDRs if there is positive rating momentum.  Conversely, if
Wynn's credit quality were to deteriorate, Fitch may opt to view
the credits on a stand-alone rather than linked basis at some
point.  This could occur in the event the credit becomes
distressed and intercompany or parent-level support appears
unlikely, insufficient, or not possible.  The credit would
probably have to deteriorate to a weak 'B' or 'B-' IDR level for
this to occur.

Recovery Ratings Withdrawn:

In accordance with Fitch's Recovery Rating methodology, Wynn's
Recovery Ratings were withdrawn because of the IDR upgrade to
'BB-'.  While concepts of Fitch's RR methodology are considered
for all companies, explicit Recovery Ratings are assigned only to
those companies with an IDR of 'B+' or below.  At the lower IDR
levels, Fitch believes there is greater probability of default so
the impact of potential recovery prospects on issue-specific
ratings becomes more meaningful.  Therefore, as a company's IDR
improves, there is compression with respect to the notching from
the IDR.


XERIUM TECHNOLOGIES: AlixPartners' B. Fox to Serve as Interim CFO
-----------------------------------------------------------------
On July 15, 2010, Xerium Technologies, Inc., entered into an
agreement, effective July 12, 2010, with AlixPartners, LLP, a
global business advisory firm, pursuant to which AlixPartners will
provide Brian J. Fox, of AlixPartners, to serve as interim Chief
Financial Officer and Chief Accounting Officer of the Company,
effective upon the Company's filing of its 2010 second quarter on
Form 10-Q and AlixPartners' receipt of evidence of specified
directors and officers insurance coverage.  The AlixPartners
Agreement, among its material terms, provides that during the
assignment, Mr. Fox, reporting to the Company's Chief Executive
Officer, will manage the Company's corporate financial functions,
assist in evaluating and implementing strategic and tactical
options, and directly supervise the preparation of reports and
analysis required for performance and compliance reporting to the
management, Board of Directors, and regulatory agencies.

AlixPartners will be paid $710 per hour for time devoted by
Mr. Fox, plus out-of-pocket expenses.  Mr. Fox will devote
substantially all of his time to this assignment.  Mr. Fox will
not be an employee of the Company, and will not receive any
compensation directly from the Company.  The AlixPartners
Agreement also provides that Mr. Fox may be assisted by additional
staff of AlixPartners, subject to prior review and approval by the
Company's Chief Executive Officer.  A success fee of $200,000 will
be due and payable to AlixPartners upon the successful relocation
of the Company's corporate operations from Westborough,
Massachusetts to Raleigh, North Carolina.   If the Company
terminates the AlixPartners Agreement after September 30, 2010,
but before November 30, 2010, the Company will be obligated to pay
AlixPartners a $100,000 early termination fee.  The AlixPartners
Agreement also provides for indemnification and limited liability
for AlixPartners.

Mr. Fox, age 44, has served in various capacities, including as a
Managing Director - Turnaround and Restructuring Services at
AlixPartners since November 2007.  From 2000 to October 2007, Mr.
Fox was a managing director at Conway, Del Genio Gries & Co., LLC,
a boutique consulting firm providing financial advisory and
restructuring services.

In the spring of 2008, Mr. Fox and AlixPartners were involved on
behalf of the Company in the process of amending and restating the
Company's then current credit facility.  Mr. Fox led the
AlixPartners team, which served as financial and restructuring
advisors to the Company, throughout the Company's recent
reorganization process.

A full-text copy of the AlixPartners Agreement is available for
free at http://researcharchives.com/t/s?66f6

                    About Xerium Technologies

Based in Raleigh, North Carolina, Xerium Technologies, Inc. (NYSE:
XRM) -- http://www.xerium.com/-- is a leading global manufacturer
and supplier of two types of consumable products used primarily in
the production of paper: clothing and roll covers. The Company,
which operates around the world under a variety of brand names,
utilizes a broad portfolio of patented and proprietary
technologies to provide customers with tailored solutions and
products integral to production, all designed to optimize
performance and reduce operational costs.  With 32 manufacturing
facilities in 13 countries around the world, Xerium has
approximately 3,300 employees.

Xerium Technologies and certain subsidiaries filed for Chapter 11
on March 30, 2010 (Bankr. D. Del. Lead Case No. 10-11031).  Judge
Kevin J. Carey presides over the cases.  John J. Rapisardi, Esq.;
George A. Davis, Esq.; and Sharon J. Richardson, Esq., at
Cadwalader, Wickersham & Taft LLP; and Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., serve as bankruptcy counsel.
Brian Fox, Michelle Campbell, and Michael Hartley at AlixPartners,
LLC, serve as the Debtors' restructuring advisors.  Stephen Ledoux
and Daniel Gilligan at Rothschild Inc. serve as the Debtors'
investment bankers.  Garden City Group Inc. is the Debtors' claims
agent.  Xerium Technologies disclosed total assets of $693,511,000
and total debts of $813,168,000 in its petition.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware confirmed the Prepackaged Chapter 11 Plan of
Reorganization filed by Xerium Technologies, Inc., and its debtor
affiliates on May 12, 2010, after determining that the Plan
satisfies the requirements of Section 1129(a) of the Bankruptcy
Code.  On May 25, 2010, the Plan became effective and the Company
and the debtor subsidiaries emerged from Chapter 11.

                          *     *     *

The Company's balance sheet at March 31, 2010, showed
$658.5 million in assets and $807.0 million in liabilities, for a
stockholders' deficit of $148.5 million.


XSTREAM SYSTEMS: Behind in Rutgers Royalty Payments
---------------------------------------------------
XStream Systems, Inc., is required under a license agreement
entered into by the Company with Rutgers University for exclusive
rights to produce and sell products which utilize the university's
patented X-ray diffraction technology, the Company has agreed to
pay the university a minimum annual royalty for a term of 15
years, which was the remaining life of the patent at the inception
of the agreement.  Minimum annual royalty payment under the
license agreement is $500,000 for each of the years ending
December 31, 2010, until 2014.

Royalty expense for the years ended December 31, 2009 and 2008 was
$500,000 and $300,000.  Under the terms of the agreement those
were the minimum payments due for the years ended December 31,
2009 and 2008, respectively.  At December 31, 2009 and 2008
accounts payable includes $797,871 and $296,336 amount of accrued
royalties, respectively.

The Company is currently in arrears with respect to payment of
accrued royalty fees.  The licensing agreement provides that if
either party breaches or fails to perform any provision of the
Agreement, the other party may give written notice of the default
to the breaching party.  The Company has received an offer from
Rutgers to settle the outstanding amounts under the license
agreement including payment of an additional 3.5% of each sale of
an XT250tm unit and issuance of shares of common stock in the
Company.  To date, however, a forbearance agreement has not been
executed and the default under the agreement has not been cured.

The Company said, "The loss of, or our inability to maintain, this
license could result in our inability to sell our products
including the XT250tm systems without liability exposure. As a
general matter, we anticipate that we will continue to license
technology from third parties in the future. This technology may
not continue to be available on commercially reasonable terms, if
at all. Other than the licensed technology from Rutgers
University, we do not believe that we are substantially dependent
on any individual licensed technology. However, some of the
software that we license from third parties could be difficult for
us to replace. The loss of any of these technology licenses could
result in delays in the license of our products until equivalent
technology, if available, is developed or identified, licensed and
integrated."

Based in Sebastian, Florida, XStream Systems, Inc., designs and
develops material authentication and verification solutions.  Its
business strategy is to provide these solutions to US and non-US
businesses in pharmaceutical supply chains.  The core of its
products and services is the XT250tm  Material Identification
System.  The Company has the ability to offer standardized or
customized configurations of the XT250tm-based services.

As of March 31, 2010, the Company had total assets of $1,154,373
against total liabilities of $18,542,359, resulting in
stockholders' deficit of $30,416,729.

The Company's independent auditors, in their report dated
March 12, 2010, for the related audit of the Company's financial
statements for the years ended December 31, 2009 and December 31,
2008, expressed doubt about the Company's ability to continue as a
going concern.


* 7 Banks Closed Friday, Raise Year's Total to 104
--------------------------------------------------
Seven U.S. banks were taken over by regulators on July 23,
bringing total bank failures for the year to 103.  The failures
will cost the Federal Deposit Insurance Corp. a combined $431
million.

The seven banks closed Friday were Williamsburg First National
Bank, Kingstree, SC; Thunder Bank, Sylvan Grove, KS; Community
Security Bank, New Prague, MN; Crescent Bank and Trust Company,
Jasper, GA; Sterling Bank, Lantana, FL; Home Valley Bank, Cave
Junction, OR; and SouthwestUSA Bank, Las Vegas, NV.

The FDIC was able to sign deals for other banks to take over the
deposits of the failed banks.

This year, the FDIC also reached deals to sell assets of some of
the closed banks to private investors.  Last July 16, NAFH
National Bank, Miami, Florida, a newly-chartered bank run by the
former chief of Bank of America's investment banking unit, bought
three banks shut by regulators.  Early this year, another group of
private investors formed  Premier American Bank and bought three
banks.  NAFH has raised $900 million from investors to buy banking
assets.

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)
-----------       ----------   --------------      -----------
Williamsburg First      $139.3    First Citizens Bank       $8.8
Thunder Bank, Sylvan     $32.6    The Bennington State      $4.5
Community Security      $108.0    Roundbank, Waseca        $18.6
Crescent Bank         $1,010.0    Renasant Bank           $242.4
Sterling Bank           $407.9    IBERIABANK               $45.5
Home Valley Bank        $251.8    South Valley Bank        $37.1
SouthwestUSA Bank       $214.0    Plaza Bank, Irvine       $74.1

Turnberry Bank          $263.9    NAFH National            $34.4
First National Bank     $682.0    NAFH National            $74.9
Mainstreet Savings       $97.4    Commercial Bank          $11.4
Woodlands Bank          $376.2    Bank of the Ozarks      $115.0
Metro Bank of Dade      $442.3    NAFH National            $67.6
Olde Cypress Community  $168.7    CenterState Bank         $31.5
USA Bank, Port Chester  $193.3    New Century Bank         $61.7
Bay National Bank       $282.2    Bay Bank, FSB            $17.4
Ideal Federal Savings     $6.3    -- None --                $2.1
Home National Bank      $644.5    RCB Bank, Claremore      $78.7
First National          $252.5    The Savannah Bank        $68.9
High Desert              $80.3    First American           $20.9
Peninsula Bank          $644.3    Premier American        $194.8
Nevada Security Bank    $480.3    Umpqua Bank              $80.9
Washington First        $520.9    East West Bank          $158.4
TierOne Bank          $2,800.0    Great Western Bank      $297.8
Arcola Homestead         $17.0    -- None --                $3.2
First National Bank      $60.4    Jefferson Bank           $12.6
Sun West Bank           $360.7    City National Bank       $96.7
Granite Community       $102.9    Tri Counties Bank        $17.3
Bank of Fla- Southeast  $595.3    EverBank                 $71.4
Bank of Fla- Southwest  $559.9    EverBank                 $91.3
Bank of Fla- Tampa Bay  $245.2    EverBank                 $40.3
Pinehurst Bank           $61.2    Coulee Bank               $6.0
Southwest Community      $96.6    Simmons First Nat'l      $29.0
New Liberty Bank        $109.1    Bank of Ann Arbor        $25.0
Satilla Community Bank  $135.7    Ameris Bank              $31.3
Midwest Bank & Trust  $3,170.0    Firstmerit Bank         $216.4
1st Pacific Bank        $335.8    City National Bank       $87.7
Access Bank              $32.0    PrinsBank, Prinsburg      $5.5
Towne Bank of Ariz      $120.2    Commerce Bank            $41.8
The Bank of Bonifay     $242.9    First Federal Bank       $78.7
Frontier Bank         $3,500.0    Union Bank, NA        $1,370.0
BC National Banks        $67.2    Community First          $11.4
Champion Bank           $187.3    BankLiberty              $52.7
CF Bancorp            $1,650.0    First Michigan Bank     $615.3
Westernbank PR       $11,940.0    Banco Popular de PR   $3,310.0
R-G Premier Bank      $5,920.0    Scotiabank de PR      $1,230.0
Eurobank, SJ, PR      $2,560.0    Oriental Bank & Trust   $743.9
Lincoln Park Savings    $199.9    Northbrook Bank          $48.4
Peotone Bank            $130.2    First Midwest            $31.7
Wheatland Bank          $437.2    Wheaton Bank            $133.0
New Century Bank        $485.6    MB Financial            $125.3
Citizens Bank&Trust      $77.3    Republic Bank            $20.9
Broadway Bank         $1,200.0    MB Financial            $394.3
Amcore Bank           $3,800.0    Harris                  $220.3
Lakeside Community       $53.0    People's United          $11.2
Innovative Bank         $268.9    Center Bank              $37.8
City Bank             $1,130.0    Whidbey Island          $323.4
Butler Bank             $233.2    People's United          $22.9
AmericanFirst Bank       $90.5    TD Bank, N.A.            $10.5
First Federal           $393.3    TD Bank, N.A.             $6.0
Riverside National    $3,420.0    TD Bank, N.A.           $491.8
Tamalpais Bank          $628.9    Union Bank, N.A.         $81.1
Beach First National    $585.1    Bank of NC              $130.3
McIntosh Commercial     $362.9    CharterBank, West Point $123.3
Desert Hills Bank       $496.6    New York Community Bank $106.7
Unity National Bank     $292.2    Bank of the Ozarks       $67.2
Key West Bank            $88.0    Centennial Bank          $23.1
State Bank of Aurora     $28.2    Northern State Bank       $4.2
First Lowndes Bank      $137.2    First Citizens Bank      $38.3
Bank of Hiawassee       $377.8    Citizens South Bank     $137.7
Appalachian Community $1,010.0    Community & Southern    $419.3
Advanta Bank Corp.    $1,600.0    - None -                $635.6
Century Security         $96.5    Bank of Upson            $29.9
American National        $70.3    National Bank and Trust  $17.1
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

              775 Banks Now in FDIC's Problem List

The number of institutions on the Federal Deposit Insurance
Corp.'s "Problem List" rose to 775, up from 702 at the end of
2009. In addition, the total assets of "problem" institutions
increased during the quarter from $403 billion to $431 billion.
These levels are the highest since June 30, 1993, when the number
and assets of "problem" institutions totaled 793 and $467 billion,
respectively, but the increase in the number of problem banks was
the smallest in four quarters.

"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.

The FDIC says that 41 institutions failed during the first
quarter.  Chairman Bair noted that the vast majority of "problem"
institutions do not fail.

According to the FDIC, its Deposit Insurance Fund (DIF) balance
improved for the first time in two years.  The DIF balance -- the
net worth of the fund -- increased slightly to negative $20.7
billion, from negative $20.9 billion (unaudited) on December 31,
2009.  The fund balance reflects a $40.7 billion contingent loss
reserve that has been set aside to cover estimated losses.  Just
as banks reserve for loan losses, the FDIC has to set aside
reserves for anticipated closings.  Combining the fund balance
with this contingent loss reserve shows total DIF reserves of
$20 billion.  Total insured deposits increased by 1.3%
($70.0 billion) during the first quarter.

The FDIC's liquid resources - cash and marketable securities -
remained strong.  Liquid resources stood at $63 billion at the end
of the first quarter, a decline from $66 billion at year-end 2009.
To provide the funds needed to resolve failed institutions in 2010
and beyond without immediately reducing the industry's earnings
and capital, the FDIC Board approved a measure on November 12,
2009, that required most insured institutions to prepay
approximately three years' worth of deposit insurance premiums -
about $46 billion - at the end of 2009.

              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 March 31, 2010, is available for free at:

     http://bankrupt.com/misc/FDIC_QBP_Q1_10.pdf


* 1 Default Last Week Hikes S&P Year's Default Total at 45
----------------------------------------------------------
Hong Kong-based oil logistic and marine services company Titan
Petrochemicals completed a distressed exchange last week, raising
the year-to-date 2010 global corporate default tally to 45, said
an article published by Standard & Poor's, titled "Global
Corporate Default Update (July 16 - 22, 2010) (Premium)."

"By region, the current year-to-date default tallies are 32 in the
U.S., two in Europe, five in the emerging markets, and six in the
other developed region," said Diane Vazza, head of Standard &
Poor's Global Fixed Income Research. (The other developed region
is Australia, Canada, Japan, and New Zealand.)

So far this year, distressed exchanges account for 15 defaults,
missed interest or principal payments are responsible for 13,
Chapter 11 filings account for 11, regulatory directives and
receiverships account for one each, and the remaining four
defaulted issuers are confidential.

Of the global corporate defaulters in 2010, 41% of issues with
available recovery ratings had recovery ratings of '6' (indicating
our expectation for negligible recovery of 0% to 10%), 13% of the
issues had recovery ratings of '5' (modest recovery prospects of
10% to 30%), 8% had recovery ratings of '4' (average recovery
prospects of 30% to 50%), and 21% had recovery ratings of '3'
(meaningful recovery prospects of 50% to 70%).  And for the
remaining two rating categories, 15% of the issues had recovery
ratings of '2' (substantial recovery prospects of 70% to 90%) and
3% had recovery ratings of '1' (very high recovery prospects of
90% to 100%).

"In our view, a modest amount of maturing debt over the next four
quarters is one of the key factors that should keep default rates
low in the one-year forecast horizon, even though many
speculative-grade issuers could have a tough time refinancing if
financial conditions worsen materially," said Ms. Vazza.  "Our
baseline projection for the U.S. corporate speculative-grade
default rate in the 12 months ended in June 2011 is 2.8%, with
alternative scenarios of 2.5% at the optimistic end and 4.5% at
the pessimistic end."

S&P's pessimistic scenario is the same as the long-term (1981 to
2009) average default rate.  Its forecasts are based on
quantitative and qualitative factors that we consider, including,
but not limited to, Standard & Poor's proprietary default model
for the U.S. corporate speculative-grade bond market.


* Glerum Joints Edwards Angell as New Bankruptcy Partner
--------------------------------------------------------
Bankruptcy Law360 reports that Edwards Angell Palmer & Dodge LLP
has boosted the ranks of its restructuring and insolvency practice
with the addition of Charles L. Glerum, who joins the firm as a
partner in its Boston office.

Previously a partner at Choate Hall & Stewart LLP, where he was
head of the firm's bankruptcy group, Glerum's practice has focused
particularly on representing creditors.


* BOND PRICING -- For Week From July 19 to 23, 2010
---------------------------------------------------


   Company        Coupon    Maturity   Bid Price
155 E TROPICANA     8.750%     4/1/2012     5.506
ABITIBI-CONS FIN    7.875%     8/1/2009    12.250
ADVANTA CAP TR      8.990%   12/17/2026    13.125
AHERN RENTALS       9.250%    8/15/2013    34.500
AMBAC INC           7.500%     5/1/2023    28.000
AMBAC INC           9.375%     8/1/2011    45.000
BANK NEW ENGLAND    8.750%     4/1/1999    12.250
BANKUNITED FINL     6.370%    5/17/2012     5.250
BLOCKBUSTER INC     9.000%     9/1/2012     7.500
BOWATER INC         6.500%    6/15/2013    28.000
BOWATER INC         9.500%   10/15/2012    30.000
BRODER BROS CO     11.250%   10/15/2010    88.000
CAPMARK FINL GRP    5.875%    5/10/2012    34.000
CELL THERAPEUTIC    7.500%    4/30/2011    80.600
CHENIERE ENERGY     2.250%     8/1/2012    48.000
COLLINS & AIKMAN   10.750%   12/31/2011     0.010
DEVELOP DIV RLTY    4.625%     8/1/2010   100.025
EDDIE BAUER HLDG    5.250%     4/1/2014     5.000
EVERGREEN SOLAR     4.000%    7/15/2013    29.750
FAIRPOINT COMMUN   13.125%     4/2/2018     8.813
FINLAY FINE JWLY    8.375%     6/1/2012     1.500
GASCO ENERGY INC    5.500%    10/5/2011    59.750
GENERAL MOTORS      7.125%    7/15/2013    33.750
GENERAL MOTORS      9.450%    11/1/2011    31.120
GREAT ATLA & PAC    5.125%    6/15/2011    63.000
GREAT ATLA & PAC    6.750%   12/15/2012    44.000
HAWAIIAN TELCOM     9.750%     5/1/2013     1.875
HAWAIIAN TELCOM    12.500%     5/1/2015     1.400
INDALEX HOLD       11.500%     2/1/2014     2.800
JBLU-CALL08/10      3.750%    3/15/2035    75.000
KEYSTONE AUTO OP    9.750%    11/1/2013    38.500
LANDRY'S RESTAUR    9.500%   12/15/2014    84.800
LEHMAN BROS HLDG    0.250%    2/16/2012    18.500
LEHMAN BROS HLDG    0.450%   12/27/2013    20.000
LEHMAN BROS HLDG    1.500%    3/23/2012    20.000
LEHMAN BROS HLDG    4.500%     8/3/2011    18.625
LEHMAN BROS HLDG    4.700%     3/6/2013    19.750
LEHMAN BROS HLDG    4.800%    2/27/2013    18.625
LEHMAN BROS HLDG    4.800%    3/13/2014    17.500
LEHMAN BROS HLDG    5.000%    1/14/2011    20.750
LEHMAN BROS HLDG    5.000%    1/22/2013    18.710
LEHMAN BROS HLDG    5.000%    2/11/2013    18.550
LEHMAN BROS HLDG    5.000%    3/27/2013    18.000
LEHMAN BROS HLDG    5.000%     8/3/2014    18.050
LEHMAN BROS HLDG    5.000%     8/5/2015    18.220
LEHMAN BROS HLDG    5.100%    1/28/2013    18.625
LEHMAN BROS HLDG    5.150%     2/4/2015    17.500
LEHMAN BROS HLDG    5.250%     2/6/2012    19.875
LEHMAN BROS HLDG    5.250%    1/30/2014    19.750
LEHMAN BROS HLDG    5.250%    2/11/2015    18.500
LEHMAN BROS HLDG    5.500%     4/4/2016    19.250
LEHMAN BROS HLDG    5.500%    2/19/2018    18.550
LEHMAN BROS HLDG    5.600%    1/22/2018    18.550
LEHMAN BROS HLDG    5.625%    1/24/2013    20.000
LEHMAN BROS HLDG    5.700%    1/28/2018    19.750
LEHMAN BROS HLDG    5.750%    4/25/2011    18.500
LEHMAN BROS HLDG    5.750%    7/18/2011    19.550
LEHMAN BROS HLDG    5.750%    5/17/2013    19.750
LEHMAN BROS HLDG    5.875%   11/15/2017    18.000
LEHMAN BROS HLDG    6.000%    7/19/2012    20.250
LEHMAN BROS HLDG    6.000%    6/26/2015    16.600
LEHMAN BROS HLDG    6.000%   12/18/2015    17.500
LEHMAN BROS HLDG    6.000%    2/12/2018    18.250
LEHMAN BROS HLDG    6.000%    2/12/2020    17.675
LEHMAN BROS HLDG    6.200%    9/26/2014    20.500
LEHMAN BROS HLDG    6.250%     2/5/2021    17.050
LEHMAN BROS HLDG    6.500%     3/6/2023    17.000
LEHMAN BROS HLDG    6.625%    1/18/2012    21.250
LEHMAN BROS HLDG    6.875%     5/2/2018    21.250
LEHMAN BROS HLDG    7.000%    4/16/2019    17.500
LEHMAN BROS HLDG    7.000%    1/31/2038    17.500
LEHMAN BROS HLDG    7.000%     2/1/2038    18.000
LEHMAN BROS HLDG    7.050%    2/27/2038    19.750
LEHMAN BROS HLDG    7.100%    3/25/2038    17.900
LEHMAN BROS HLDG    7.500%    5/11/2038     0.050
LEHMAN BROS HLDG    7.730%   10/15/2023    18.550
LEHMAN BROS HLDG    7.875%    11/1/2009    19.500
LEHMAN BROS HLDG    8.000%     3/5/2022    18.450
LEHMAN BROS HLDG    8.000%    3/17/2023    19.500
LEHMAN BROS HLDG    8.050%    1/15/2019    18.000
LEHMAN BROS HLDG    8.500%     8/1/2015    17.500
LEHMAN BROS HLDG    8.500%    6/15/2022    18.850
LEHMAN BROS HLDG    8.750%   12/21/2021    17.930
LEHMAN BROS HLDG    8.800%     3/1/2015    17.500
LEHMAN BROS HLDG    8.920%    2/16/2017    18.625
LEHMAN BROS HLDG    9.500%   12/28/2022    19.000
LEHMAN BROS HLDG    9.500%    1/30/2023    17.500
LEHMAN BROS HLDG    9.500%    2/27/2023    17.500
LEHMAN BROS HLDG   10.000%    3/13/2023    18.625
LEHMAN BROS HLDG   10.375%    5/24/2024    18.250
LEHMAN BROS HLDG   11.000%    6/22/2022    17.760
LEHMAN BROS HLDG   11.000%    3/17/2028    18.750
LEINER HEALTH      11.000%     6/1/2012     8.750
MAGNA ENTERTAINM    7.250%   12/15/2009     9.000
MAGNA ENTERTAINM    8.550%    6/15/2010    15.250
METALDYNE CORP     11.000%    6/15/2012     5.277
NEWPAGE CORP       10.000%     5/1/2012    58.000
NEWPAGE CORP       12.000%     5/1/2013    26.000
NORTH ATL TRADNG    9.250%     3/1/2012    48.000
PALM HARBOR         3.250%    5/15/2024    73.500
RASER TECH INC      8.000%     4/1/2013    36.688
RESTAURANT CO      10.000%    10/1/2013    30.500
RESTAURANT CO      10.000%    10/1/2013    30.250
SPHERIS INC        11.000%   12/15/2012    22.250
STATION CASINOS     6.000%     4/1/2012     5.250
STATION CASINOS     7.750%    8/15/2016     6.000
STX-CALL08/10       2.375%    8/15/2012   100.500
TEXTRON INC         4.500%     8/1/2010    99.930
THORNBURG MTG       8.000%    5/15/2013     3.750
TIMES MIRROR CO     7.250%     3/1/2013    23.250
TOUSA INC           7.500%    1/15/2015     1.750
TOUSA INC          10.375%     7/1/2012     0.001
TRANS-LUX CORP      8.250%     3/1/2012     7.673
TRIBUNE CO          5.250%    8/15/2015    24.000
TRICO MARINE        3.000%    1/15/2027    14.750
TRICO MARINE SER    8.125%     2/1/2013    49.250
VIRGIN RIVER CAS    9.000%    1/15/2012    45.500
WASH MUT BANK FA    5.125%    1/15/2015     0.150
WASH MUT BANK NV    5.500%    1/15/2013     0.375
WASH MUT BANK NV    5.950%    5/20/2013     0.340
WASH MUT BANK NV    6.750%    5/20/2036     0.500
WCI COMMUNITIES     7.875%    10/1/2013     0.700
WCI COMMUNITIES     9.125%     5/1/2012     2.250
WDAC SUBSIDIARY     8.375%    12/1/2014     3.494



                           *********

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.


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