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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, August 2, 2010, Vol. 14, No. 212

                            Headlines


2006 PROSPER: Files Schedules of Assets & Liabilities
11700 SAN: Case Summary & 7 Largest Unsecured Creditors
ABITIBIBOWATER INC: Canadian Court Approves Tenth DIP Consent
ABITIBIBOWATER INC: Only $34,000 in Claims Change Hands for June
ABITIBIBOWATER INC: Says Company 'Hopelessly Insolvent'

ADPT CORPORATION: Gets Notice of NASDAQ Delisting Determination
AMARONE LP: Files Schedules of Assets & Liabilities
AMB PROPERTY: Fitch Downgrades Preferred Stock Rating to 'BB+'
AMBAC FINANCIAL: Board Committee Approves Salary Increase for CFO
AMELIA ISLAND: Two Investors Rival Offer of Noble Investment

AMERICAN APPAREL: Deloitte & Touche Resigns as Accountant
AMERICAN SAFETY: Moody's Cuts Probability of Default Rating to 'D'
AMN HEALTHCARE: S&P Puts 'BB-' Rating on CreditWatch Negative
ARAMARK CORP: Bank Debt Trades at 6% Off in Secondary Market
ATLAS PIPELINE: S&P Puts 'B-' Rating on CreditWatch Positive

AUTOZONE INC: Crowley, Tynan Report Sale of Shares
AUTOZONE INC: Eddie Lampert, ESL Funds Report Sale of Shares
AVAYA INC: Bank Debt Trades at 11% Off in Secondary Market
AVIS BUDGET: Moody's Maintains Corporate Family Rating at 'B2'
AVISTAR COMMS: Files Form 10-Q for June 30 Quarter

BAYSIDE SAVINGS BANK: Closed; Centennial Bank Assumes All Deposits
BERNARD MADOFF: Trustee Sues to Recover Business Investments
BIOMET INC: Bank Debt Trades at 3% Off in Secondary Market
BMS REAL ESTATE: Files List of 3 Largest Unsecured Creditors
BMS REAL ESTATE: Files Schedules of Assets & Liabilities

BMS REAL ESTATE: LNV Wants to Prevent Cash Collateral Use
BMS REAL ESTATE: Section 341(a) Meeting Scheduled for August 26
BMS REAL ESTATE: Taps Warnock MacKinlay as Bankruptcy Counsel
BROWN PUBLISHING: Insiders Allowed to Buy Most Assets
BUILDERS FIRSTSOURCE: Files Quarterly Report on Form 10-Q

BURA KELLEY: Voluntary Chapter 11 Case Summary
CABLEVISION SYSTEMS: Debt Trades at 1.18% Off in Secondary Market
CELL THERAPEUTICS: Annual Shareholders' Meeting Set for Sept. 16
CELL THERAPEUTICS: Director Nudelman Sells 40,000 Shares
CELL THERAPEUTICS: Registers 4,060 Shares to Be Sold by Cranshire

CENTAUR LLC: To Auction Off Colorado Casino on August 23
CHARTER COMMS: Bank Debt Trades at 5% Off in Secondary Market
CHEMTURA CORP: Sells Sulfonates and Oxidized Petrolatum Businesses
CHINA CABLECOM: Receives NASDAQ Deficiency Letter
CHRYSLER LLC: Sterling Heights Assembly Plant Will Remain Open

CLAIRE'S STORES: Bank Debt Trades at 16% Off in Secondary Market
CLEAR CHANNEL: Bank Debt Trades at 20% Off in Secondary Market
COASTAL COMMUNITY: Closed; Centennial Bank Assumes All Deposits
COLONY LODGING: Case Summary & 25 Largest Unsecured Creditors
COMMUNICATION INTELLIGENCE: Annual Stockholders Meeting on Aug. 4

COMMUNITY HEALTH: Bank Debt Trades at 5% Off in Secondary Market
COMPTON PETROLEUM: NYSE to Remove Entire Class of Common Stock
CONSTELLATION ENERGY: Fitch Affirms 'BB' Rating on Junior Notes
CONTECH CONSTRUCTION: Debt Trades at 17% Off in Secondary Market
COOPER-STANDARD: Registers Securities for Resale

COWLITZ BANK: Closed; Heritage Bank Assumes All Deposits
CUSTOM CABLE: Files for Chapter 11; ComVest Mulling on Offer
DELPHI CORP: Congress Subcommittee Seeks Pension Input
DELPHI CORP: DPH Holdings Files 2nd Quarter Report
DELPHI CORP: VEBA Committee Asks for Final Report

DENTAL PLUS: Delay and Cost Overruns Prompt Chapter 11 Filing
DOLLAR THRIFTY: S&P Retains Ratings on CreditWatch Positive
ESI TRACTEBEL: S&P Withdraws 'BB' Rating on $220 Mil. Bonds
FERRO CORPORATION: Moody's Affirms 'B1' Corporate Family Rating
FIBERVISIONS CORPORATION: Moody's Lifts Corp. Family Rating to B1

FLEETWOOD ENTERPRISES: Wins Confirmation of Liquidating Plan
FORD MOTOR: Bank Debt Trades at 3% Off in Secondary Market
FOREVER CONSTRUCTION: Case Summary & 20 Largest Unsec Creditors
FREESCALE SEMICON: Bank Debt Trades at 8% Off in Secondary Market
GANNETT CO: Moody's Retains 'Ba1' Corporate Family Rating

GLOBAL BRASS: S&P Assigns 'B' Corporate Credit Rating
GREAT ATLANTIC: Moody's Affirms 'Caa2' Corporate Rating
GREENVALE CONSTRUCTION: Files for Chapter 11 Protection
GREENVALE CONSTRUCTION: Case Summary & 20 Largest Unsec Creditors
GTC BIOTHERAPEUTICS: July 4 Balance Sheet Upside Down by $27.4MM

HARRAH'S ENTERTAINMENT: HOC Bank Debt Trades at 102.22%
HAWKER BEECHCRAFT: Bank Debt Trades at 19% Off in Secondary Market
HEALTH MANAGEMENT: Bank Debt Trades at 6% Off in Secondary Market
HEALTHSOUTH CORP: Bank Debt Trades at 3% Off in Secondary Market
HERTZ GLOBAL: S&P Retains CreditWatch Positive on Ratings

IAME GROUP: Voluntary Chapter 11 Case Summary
INNKEEPERS USA: 341 Meeting of Creditors Set for Sept. 14
INNKEEPERS USA: U.S. Trustee Appoints 5-Member Creditors Committee
INTERNATIONAL COAL: Posts $4.5-Mil. Net Income for June 30 Qtr.
ISP CHEMCO: Bank Debt Trades at 6% Off in Secondary Market

JER INVESTMENTS: Case Summary & 4 Largest Unsecured Creditors
JESUP & LAMONT: Lack of Capital Prompts Bankruptcy Filing
KOLORFUSION INT'L: Case Summary & 20 Largest Unsecured Creditors
KRISPY KREME: Moody's Upgrades Corporate Family Rating to 'B3'
LAKEVIEW AT CAROLINA: Sec. 341(a) Meeting Scheduled for August 27

LAS VEGAS SANDS: Bank Debt Trades at 7% Off in Secondary Market
LEHMAN BROTHERS: Proposes to Pay Citibank to Assign Tax Debt
LEVEL 3 COMMS: Bank Debt Trades at 10% Off in Secondary Market
LIBERTYBANK: Closed; Home Federal Bank Assumes All Deposits
LONG BAY: Case Summary & 5 Largest Unsecured Creditors

MACKINAW POWER: S&P Affirms 'BB-' Rating on $147 Mil. Senior Loan
MARINA DISTRICT: Fitch Assigns 'B' Issuer Default Rating
MARK BRUNELL: Signs 2-Year Contract with New York Jets
MOMENTIVE PERFORMANCE: Bank Debt Trades at 8% Off
MXENERGY HOLDINGS: Consummates Debt & Equity Restructuring

MYLAN INC: Moody's Rates Senior Unsecured Note Offering at 'B1'
NEENAH ENTERPRISES: Successful Emerges From Bankruptcy
NEWARK GROUP: Obtains Court Approval of Prepackaged Plan
NEXCEN BRANDS: Faces Class Action Lawsuit in NY Supreme Court
NGPL PIPECO: Moody's Downgrades Senior Unsec. Ratings to 'Ba1'

NORTEL NETWORKS: Ex-Employees Can File Claims Until Oct. 29
NORTEL NETWORKS: Has $5.7 Bil. Cash at June 26, Says Monitor
NORTHWEST BANK: Closed; State Bank and Trust Assumes Deposits
NUVEEN INVESTMENTS: Moody's Keeps Ratings, Gives Positive Outlook
OKIE DOKIE: Case Summary & 14 Largest Unsecured Creditors

OPUS SOUTH: Opus Corp. Seeks to Enjoin California Lawsuit
OPUS SOUTH: Waters Edge Trustee Begins Omnibus Claims Objections
OPUS SOUTH: Waters Edge Submits Post-Confirmation Report for June
OSI RESTAURANT: Bank Debt Trades at 14% Off in Secondary Market
PACIFIC CAPITAL: Moody's Reviews 'C' Rating for Possible Upgrade

PACIFICA MESA: Files Schedules of Assets & Liabilities
PACIFICA MESA: Gets Court OK to Tap Robert Schmidt as Attorney
PACIFICA MESA: Section 341(a) Meeting Scheduled for August 19
PACIFICA MESA: Wants to Hire Ezra Brutzkus as Bankruptcy Counsel
PAETEC HOLDING: CEO Chesonis Discloses Sale of Shares

PENN NATIONAL: Bank Debt Trades at 2% Off in Secondary Market
PHARMATHENE INC.: Gives NYSE Amex Listing Compliance Plan Update
POSADA PORLAMAR: Case Summary & 20 Largest Unsecured Creditors
PAETEC HOLDING: CEO Chesonis Discloses Sale of Shares
PENN NATIONAL: Bank Debt Trades at 2% Off in Secondary Market

RANGE RESOURCES: Moody's Rates New Senior Notes at 'Ba3'
RANGE RESOURCES: S&P Assigns 'BB' Rating on $350 Mil. Notes
RCC SOUTH: Voluntary Chapter 11 Case Summary
RESORT, LLC: Case Summary & 17 Largest Unsecured Creditors
RGIS HOLDINGS: S&P Raises Corporate Credit Rating to 'B'

RITE AID: Bank Debt Trades at 12% Off in Secondary Market
ROCKWOOD SPECIALTIES: S&P Raises Corporate Credit Rating to 'BB-'
RUBICON US REIT: Parkway Purchases Secured Note for $35 Million
RYLAND GROUP: Posts $21.8 Million Net Loss for June 30 Quarter
SBARRO INC: Peter Beaudrault Resigns as President and CEO

SCOTT GOLLAHER: Case Summary & 20 Largest Unsecured Creditors
SOUTH BAY: Committee Gets OK to Hire Brinkman as Counsel
SOUTH BAY: Proposes to Settle with San Diego Assessors
SOUTH BAY: Wins Nod to Employ PwC as Tax Advisor
STORM KING: Files for Chapter 11 in Poughkeepsie

SUNQUEST INFORMATION: S&P Raises Ratings on Term Loan to 'BB'
SUPERIOR PLUS: S&P Assigns 'BB' Long-Term Corp. Credit Rating
TENNECO INC: Moody's Assigns 'B2' Rating on $225 Mil. Notes
TENNECO INC: S&P Assigns 'B' Rating on $225 Mil. Senior Notes
TEXAS RANGERS: Yankee's A-Rod Balks at Plan Over Deferred Money

TEXATRONICS INC: Case Summary & 20 Largest Unsecured Creditors
TRIBUNE CO: Examiner Asks Court to Resolve Confidentiality Issues
TRIBUNE CO: Examiner Wants to be Discharged From Duties
TRIBUNE CO: Revises 2010 Management Incentive Plan
TRONOX INC: Balks at Metawise Offer to Buy Iron Oxide Tailing

TRONOX INC: Files Bankr. Rule 2015.3 Report for June 30
TRONOX INC: Holds Talks With Gov. on Environmental Claims
TTR MATESSON: Wants Filing of Schedules Extended Until Aug. 16
TTR MATTESON: Inland Mortgage Wants Ch 11 Bankr. Case Dismissed
TTR MATTESON: Section 341(a) Meeting Scheduled for August 31

TTR MATTESON: Taps Crane Heyman as Bankruptcy Counsel
UAL CORP: Generated $1.9 Bil. Baggage Fees Revenue in 2009
UAL CORP: PBGC Blamed for Discrepancies on Pension Audits
UAL CORP: Postpones Move to Willis Tower Due to Merger
U.S. CONCRETE: Court Confirms Plan of Reorganization

US FOODSERVICE: Bank Debt Trades at 13% Off in Secondary Market
VITERRA INC: Moody's Assigns 'Ba1' Corporate Family Rating
WEST CORP: Bank Debt Trades at 5% Off in Secondary Market
WEST CORP: Bank Debt Trades at 3% Off in Secondary Market
XENONICS HOLDINGS: Appeals Notice of Delisting from NYSE Amex

ZALE CORP: Inks Warrants & Rights Agreement with Z Investment
WHITNEY HOLDING: S&P Cuts Counterparty Credit Rating to 'BB'

* Home Foreclosures Increasing in 74% of Metro Areas
* S&P's 2010 Defaults Total at 46 After American Safety Files
* 5 Bank Closings Last Friday Bring Year's Total to 108

* BOND PRICING -- For the Week From July 26 to 30, 2010


                            ********


2006 PROSPER: Files Schedules of Assets & Liabilities
-----------------------------------------------------
2006 Partners, L.P., has filed with the U.S. Bankruptcy Court for
the Northern District of Texas its schedules of assets and
liabilities, disclosing:

  Name of Schedule                      Assets         Liabilities
  ----------------                      ------         -----------
A. Real Property                     $28,560,000
B. Personal Property                  $1,676,308
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                     $48,440,646
E. Creditors Holding
   Unsecured Priority
   Claims                                                      $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                 $35,000
                                     -----------      -----------
      TOTAL                           $30,236,308      $48,475,646

Dallas, Texas-based 2006 Prosper Partners, L.P., sought Chapter 11
protection on July 2, 2010 (Bankr. N.D. Tex. Case No. 10-34652).
Michael D. Warner, Esq., at Cole Schotz Meisel Forman & Leonard
PA, represents the Company in the bankruptcy case.  The Company
estimated its assets and debts at $10,000,001 to $50,000,000 as of
the Petition Date.


11700 SAN: Case Summary & 7 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: 11700 San Jose Boulevard, LLC
        P.O. Box 56994
        Jacksonville, FL 32241

Bankruptcy Case No.: 10-06484

Chapter 11 Petition Date: July 27, 2010

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

Debtor's Counsel: Kevin B. Paysinger, Esq.
                  Bankruptcy Law Firm of Lansing J. Roy
                  P.O. Box 10399
                  Jacksonville, FL 32247
                  Tel: (904) 391-0030
                  Fax: (904) 391-0031
                  E-mail: court@jacksonvillebankruptcy.com

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

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

The petition was signed by Melissa Buchanan, managing member.

Debtor's List of 7 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
John Boville              Loan for               $150,000
1101 Horseshoe            improvements to
Valley Road               property
Barrie, Ontario L4M 4Y8

Pavement America          Services rendered;     $150,000
4220 Hood Road            improvements to
Jacksonville, FL 32257    property

Jasmine Hubjer            Loan for operating     $50,000
2364 Bloor Street West    expenses
Toronto, Ontario M6S 1P3

Tanner Bishop             Legal services         $26,000
                          rendered

Willmoth & Associates     Accounting services    $10,000
                          rendered

Newman's Ground Care,     Services rendered      $600
Inc.

Florida Department of     Sales Tax              Unknown
Revenue

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Mardi Investments #2, LLC              10-05524    06/25/10


ABITIBIBOWATER INC: Canadian Court Approves Tenth DIP Consent
-------------------------------------------------------------
The Honorable Mr. Justice Clement Gascon, J.S.C., of the Superior
Court Commercial Division for the District of Montreal in Quebec,
Montreal, Canada approved "Consent No. 10" to the $206 million
Senior Secured DIP Facility under the Senior Secured Superpriority
DIP Credit Agreement dated April 21, 2009, as amended, by and
among AbitibiBowater Inc., Bowater Incorporated and Bowater
Canadian Forest Products Inc., as borrowers; certain lenders; and
Fairfax Financial Holdings Inc., as initial lender, initial
administrative agent and initial collateral agent.

The Canadian Court's approval recognizes the Order entered by
Bankruptcy Judge Carey as the presiding judge of the bankruptcy
proceedings of the U.S. AbitibiBowater Debtors.

The Amended Tenth DIP Consent provides that if the aggregate
principal amount of the advances has not been repaid in full on
or prior to October 15, 2010, the Borrowers will pay to the
Administrative Agent for the account of the Lenders a fee equal
to 0.5% of the aggregate amount of the Advances outstanding on
October 15, 2010, made by each Lender -- that fee being due and
payable on October 15, 2010.  Once paid, the Fee will be non-
refundable in all circumstances.

Other key terms of the Tenth DIP Amendment consist of, among
other things, an extension of the DIP Maturity Date to the
earliest of December 31, 2010, or the effective date of the
Chapter 11 Plan of Reorganization.

The U.S. Debtors have estimated that the Tenth DIP Amendment will
yield cost savings of approximately $4 million through the end of
September 2010.

                     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).


ABITIBIBOWATER INC: Only $34,000 in Claims Change Hands for June
----------------------------------------------------------------
The Clerk of the Bankruptcy Court recorded the transfers of these
entities' claims, totaling $34,082, in AbitibiBowater Inc.'s cases
for the month of June 2010:

                                                          Claim
  Transferor        Transferee               Claim No.    Amount
  ----------        ---------                --------     ------
Albany              U.S. Debt               undisclosed  $399,673
International       Recovery, V, LP
Corp.

Norfalco, Inc.      Corre Opportunities     undisclosed   165,718
                   Fund, LP

Norfalco, Inc.      Corre Opportunities     undisclosed   130,405
                   Fund, LP

Maintenance         Contrarian Funds, LLC         1004     24,222
Insulation Co.

Norfalco, Inc.      Corre Opportunities     undisclosed    22,597
                   Fund, LP

Sonar Credit        CE-DFW                  undisclosed     9,985
Partners, LLC

Recycling           Creditor Liquidity,         298         6,231
Management          LP
Systems
Associates, Inc.

Duvals Cutting      Creditor Liquidity,         887         5,768
Tools               LP

Cable Ford, Inc.    Creditor Liquidity,     undisclosed     5,476
                   LP


Day & Ross Ltd.     Creditor Liquidity,     undisclosed     5,141
                   LP

Davis Machine       U.S. Debt               undisclosed     3,720
& Tool Co.          Recovery IV, LLC

Librarie Centrale   Creditor Liquidity,     undisclosed     3,480
Ltee                LP

Freco Fluid         Creditor Liquidity,     undisclosed     3,112
Power, Inc.         LP

Mario Cotta         U.S. Debt               undisclosed     4,751
America, Inc.       Recovery IV, LLC

KS Canadian         Creditor Liquidity,     undisclosed     4,463
Knife & Saw Ltd.    LP

Winderman           U.S. Debt               undisclosed     4,395
Consulting          Recovery IV, LLC
Services

Tennessee Reagents  U.S. Debt               undisclosed     2,826
                   Recovery IV, LLC

Seal-Ryt            U.S. Debt               undisclosed     2,725
Corp.               Recovery IV, LLC

Textile             U.S. Debt               undisclosed     2,534
Specialties, Inc.   Recovery IV, LLC

A. Malo Ltee        Creditor Liquidity,     undisclosed     2,027
Tools               LP

Tennessee Reagents  U.S. Debt               undisclosed     1,831
                   Recovery IV, LLC

Nationwide          Creditor Liquidity,     undisclosed     1,560
Magazine            LP

PDM Technologies,   Sierra Liquidity           1420         1,595
LLC                 Fund, LLC

Texdoor, Inc.       U.S. Debt               undisclosed     1,494
                   Recovery IV, LLC

Can-Am              Creditor Liquidity,     undisclosed     1,317
Instruments, Ltd.   LP

5R Processors Ltd.  U.S. Debt               undisclosed     1,246
                   Recovery IV, LLC

WW Rowland          U.S. Debt               undisclosed     1,200
Trucking            Recovery IV, LLC

Marwill,            U.S. Debt               undisclosed     1,090
Distributing        Recovery IV, LLC
Co., Inc.

Accolade Reaction   Creditor Liquidity,     undisclosed     1,077
Promotion           LP

Johnstone Supply    U.S. Debt               undisclosed     1,059
#304                Recovery IV, LLC

Zook Enterprises    Creditor Liquidity,     undisclosed       955
                   LP

Caroplast Inc.      U.S. Debt               undisclosed       918
                   Recovery IV, LLC

C&C Tire, Inc.      U.S. Debt               undisclosed       889
                   Recovery IV, LLC

P&F Metals          U.S. Debt               undisclosed       862
                   Recovery IV, LLC

MC Shroeder Co.     Sierra Liquidity           1695           788
                   Fund, LLC

Nelson Electric     U.S. Debt               undisclosed       750
Motor Inc.          Recovery IV, LLC

Southwest Metal     U.S. Debt               undisclosed       748
Resources, LLC      Recovery IV, LLC

Wilson Logging      U.S. Debt               undisclosed       745
                   Recovery IV, LLC

ML Ball Co. Inc.    U.S. Debt               undisclosed       735
                   Recovery IV, LLC

Tri-State           U.S. Debt               undisclosed       701
Printing LLC        Recovery IV, LLC

Ridgeline Timber    Sierra Liquidity        undisclosed       698
                   Fund, LLC

Sams Club           U.S. Debt               undisclosed       692
                   Recovery IV, LLC

Dring Air           U.S. Debt               undisclosed       653
Conditioning        Recovery IV, LLC
& Heating

Dring Air           Creditor Liquidity,     undisclosed       653
Conditioning        LP
& Heating


Bainbirdge          U.S. Debt               undisclosed       631
Township --         Recovery IV, LLC
Haskins

Tenn Tom            U.S. Debt               undisclosed       612
Rubber & Belting    Recovery IV, LLC

Hall                Creditor Liquidity,         125           541
Telecommunications  LP
Supply, Ltd.

Environmental       U.S. Debt               undisclosed       531
Resource            Recovery IV, LLC
Associates

HEB-ATASTCOCITA-    U.S. Debt               undisclosed       515
PAPER               Recovery IV, LLC

Duval subsequently withdrew its transfer of Claim No. 887 to
Creditor Liquidity, LP.

                     Claims Trading in June

According to Bloomberg News, a report from SecondMarket Inc. said
that there were $2.146 billion in claim trades in June, the second
fewest this year.  In amount, traded claims in June were one-third
fewer than May.

SecondMarket, according to Bloomberg, said that Lehman Brothers
Holdings Inc., with $1.9123 billion in face amount of traded
claims, was responsible for the bulk of activity.  Flying J Inc.
came in second place with $84.8 million in traded claims.  Flying
J, a vertically integrated oil producer, refiner, and marketer,
had its Chapter 11 plan confirmed July 9.

In number of trades, Lehman as usual led the pack with 224 trades.
Smurfit-Stone Container Corp., with 114 trades, came in second,
after implementing its Chapter 11 plan in June.

In June claims were traded in 64 separate bankruptcy cases,
compared with 47 cases in May, SecondMarket said in its report.

                     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).


ABITIBIBOWATER INC: Says Company 'Hopelessly Insolvent'
-------------------------------------------------------
Bill Rochelle at Bloomberg News reports that AbitibiBowater Inc.
is opposing the appointment of an official committee to represent
shareholders, citing that it is "hopelessly insolvent".  Abitibi
said that the reorganized company will have a consolidated
enterprise value of about $3.68 billion, compared with claims
totaling $8.9 billion.

To recall, 34 equity shareholders that hold a total of 13,579,432
shares of AbitibiBowater stock are asking Bankruptcy Judge Kevin
Carey to appoint an official committee of equity security holders
in the Debtors' Chapter 11 cases.  Representing the shareholders,
L. Jason Cornell, Esq., at Fox Rotshchild LLP, in Wilmington,
Delaware, notes that the Chapter 11 proceedings have afforded the
Debtors an opportunity to reduce substantial claim exposure,
eliminate unprofitable contracts, and renegotiate a more favorable
debt structure.  He adds that while there is no disputing that the
paper industry has declined over the years, there is compelling
evidence -- including the Debtors' financial forecasts -- to
suggest that the Debtors are not "hopelessly insolvent."

                     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).


ADPT CORPORATION: Gets Notice of NASDAQ Delisting Determination
---------------------------------------------------------------
ADPT Corporation received a notice on July 27, 2010 from the staff
of the Nasdaq Listing Qualifications Department indicating that
the Nasdaq will suspend ADPT's common stock from trading on The
Nasdaq Global Market at the opening of business on August 5, 2010.
The delisting notice resulted from ADPT having sold substantially
all of its operating business in June to PMC-Sierra, Inc., and the
Nasdaq staff's subsequent determination that ADPT is a "public
shell." ADPT does not intend to appeal this determination.

ADPT expects that its shares of common stock will be quoted on the
Pink Sheets, an electronic quotation service that publishes market
maker quotes for securities traded over the counter, following the
suspension of trading of its shares of common stock on The Nasdaq
Global Market.

                      About ADPT Corporation

ADPT Corporation -- http://www.adptco.com-- has historically
provided innovative data center I/O solutions that protect,
accelerate, optimize, and condition data in today's most demanding
data center environments.  Going forward, the Company's business
is expected to consist primarily of capital redeployment and
identification of new, profitable business operations in which it
can utilize its existing working capital and maximize the use of
the Company's net operating losses.


AMARONE LP: Files Schedules of Assets & Liabilities
---------------------------------------------------
Amarone L.P. has filed with the U.S. Bankruptcy Court for the
Northern District of Texas its schedules of assets and
liabilities, disclosing:

  Name of Schedule                      Assets         Liabilities
  ----------------                      ------         -----------
A. Real Property                     $11,000,000
B. Personal Property                          $0
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                       $4,545,206
E. Creditors Holding
   Unsecured Priority
   Claims                                                       $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                 $301,532
                                     -----------       -----------
      TOTAL                          $11,000,000        $4,846,739

Flower Mound, Texas-based Amarone LP filed for Chapter 11
bankruptcy protection on July 5, 2010 (Bankr. N.D. Tex. Case No.
10-34764).  Howard Marc Spector, Esq., at Spector & Johnson, PLLC,
serves as bankruptcy counsel.  The Company listed $10,000,001 to
$50,000,000 in assets and $1,000,001 to $10,000,000 in liabilities
as of the Petition Date.

An affiliate, Chase Oaks Village L.P., filed for Chapter 11 in
April 2009 (Case No. 09-41047).  Another affiliate, Twenty One
High, LP, filed for Chapter 11 in January 2010 (Case No. 10-
30667).


AMB PROPERTY: Fitch Downgrades Preferred Stock Rating to 'BB+'
--------------------------------------------------------------
Fitch Ratings has downgraded the credit ratings of AMB Property
Corp. and AMB Property, L.P., the operating partnership of AMB
Property Corp.:

AMB Property Corp.

  -- Issuer Default Rating to 'BBB' from 'BBB+';
  -- Preferred Stock to 'BB+' from 'BBB-'.

AMB Property, L.P.,

  -- IDR to 'BBB' from 'BBB+';
  -- Unsecured revolving credit facilities to 'BBB' from 'BBB+';
  -- Senior unsecured notes to 'BBB' from 'BBB+'.

Additionally, Fitch has assigned a rating of 'BBB' to AMB Japan
Finance Y.K.'s 55 billion yen unsecured term loan.

The Rating Outlook has been revised to Stable from Negative.

The rating downgrade is based on Fitch's expectation that AMB's
near-to-medium term credit profile will remain consistent with an
IDR of 'BBB'.  The downgrade also contemplates Fitch's Negative
Outlook for industrial REITs in 2010, which is driven by
challenging macroeconomic fundamentals that have weakened overall
industrial tenant demand and significantly reduced market rents
and occupancy rates during this cycle.

The downgrade also reflects Fitch's view that while conditions
have modestly improved in the industrial market, macroeconomic
conditions remain uncertain and weakening global macroeconomic
growth could put further pressure on the operating performance of
AMB's portfolio that could have a negative impact on AMB's fixed
charge coverage and leverage metrics.

The ratings reflect AMB's large, high quality, and well-
diversified portfolio of global industrial properties, a well-
diversified tenant roster, demonstrated access to a wide variety
of capital sources throughout cycles, a good liquidity position,
and a large pool of unencumbered assets.

With assets in 48 markets in 15 countries in the Americas, Europe,
and Asia, the company has one of the premier investment platforms
geared to industrial assets.  At June 30, 2010, approximately 70%
of gross square footage in the operating portfolio (78% based on
AMB's ownership percentage) was located in the U.S. but the
proportion of the portfolio located outside the U.S. has been
increasing over time.  The portfolio is also concentrated in
higher barrier-to-entry locations, which provides value to AMB's
assets as well as contingent liquidity to investors.

The company has demonstrated good access to capital through cycles
and has raised approximately $2.5 billion of public and private
debt and equity capital since the beginning of 2009.

Given the fragile economic recovery, operating fundamentals remain
challenging with rental rates on renewal and rollover leases
declining by 6.9% in 1Q'10 and 9.1% in 2Q'10 across AMB's
portfolio, driving down same-store cash net operating income by
4.5% in 1Q'10 and 5.1% in 2Q'10.  While the company's lease
expiration schedule is reasonably staggered, 38.8% of the
company's leases by annualized base rents expire by the end of
2012, indicating the potential for further pressure on rent
renewals and rollovers going forward.

AMB's portfolio exhibits tenant and geographical diversification.
The company's top 20 tenants only represented 21.5% of 2010 ABR
and only two tenants, Deutsche Post World Net (3.3%) and the U.S.
Government (2.4%), represented over 2% of ABR.  The portfolio
spans North America, Europe and Asia, with top markets in the
U.S., including Southern California (13.1% of ABR in 2Q'10),
Northern New Jersey/New York (9.2%), the San Francisco Bay Area
(7.6%), Chicago (7.1%), and South Florida (5.2%).

AMB also maintains a good liquidity position.  Pro forma for two
financings completed in July and assuming that AMB refinances 80%
of its pro rata share of secured debt, AMB's sources of liquidity
(unrestricted cash, availability under the company's unsecured
credit facilities and expected retained cash flows from operating
activities after dividends) divided by uses of liquidity (pro rata
share of debt maturities, expected recurring capital expenditures
and development costs) result in a liquidity coverage ratio of 2.1
times (x) for July 1, 2010 to Dec. 31, 2011, assuming the
commitment sizes of AMB's unsecured revolving credit facilities
with a final maturity date in 2011 are reduced by one-third.
Notwithstanding the company's liquidity position and demonstrated
access to capital, AMB maintains elevated joint venture debt
maturities between 2011 and 2013, representing approximately 58%
of AMB's share of debt maturities.

AMB maintains a large pool of unencumbered assets to service its
unsecured borrowings.  AMB's trailing 12 months unencumbered cash
NOI capitalized at a stressed 7.5% capitalization rate covered its
unsecured debt net of excess cash by approximately 1.9x at
June 30, 2010.  Unencumbered asset coverage, when also including
non-stabilized unencumbered real estate, was 2.4x as of June 30,
2010.

Offsetting these credit strengths, AMB's leverage and fixed charge
coverage are expected to be in a range that is appropriate for the
'BBB' level in the near to medium term.  For the trailing 12
months ended June 30, 2010, AMB's net debt to recurring operating
EBITDA was approximately 7.9x on a consolidated basis, compared
with 9.0x and 8.5x as of Dec. 31, 2009 and 2008, respectively.
For the trailing 12 months ended June 30, 2010, AMB's fixed charge
coverage (defined as recurring operating EBITDA including cash
distributions from joint ventures less recurring capital
expenditures and straight-line rent adjustments, divided by
interest expense, capitalized interest and preferred dividends) on
a consolidated basis, including cash flow distributions from
unconsolidated joint ventures, was 2.1x compared with 1.8x and
1.7x for the year ended Dec. 31, 2009 and 2008, respectively.

AMB maintains a sizable completed development pipeline which
includes 30 properties with a carrying value of approximately
$877 million that have been completed but not yet stabilized.
These projects were 51.8% leased at June 30, 2010.  Additionally,
AMB has seven projects in its development pipeline that are
currently under construction.  These projects were approximately
53% pre-leased.  AMB's share of the remaining cost to fund the
development pipeline, including expected leasing costs, was
approximately $35 million as of June 30, 2010.  Further leasing
progress could increase the cash flow from these assets and reduce
AMB's leverage.

The two-notch differential between AMB's IDR and its preferred
stock rating is consistent with Fitch's criteria for corporate
entities with a 'BBB' IDR.  Based on Fitch's criteria report
('Equity Credit for Hybrids & Other Capital Securities'), AMB's
preferred stock is 75% equity-like and 25% debt-like since it is
perpetual and has no covenants but has a cumulative deferral
option in a going concern.  Net debt plus 25% of preferred stock
to recurring EBITDA was 8.0x as of June 30, 2010, compared with
9.1x as of Dec. 31, 2009.

These factors may have a positive impact on the ratings and/or
Outlook:

  -- Fitch-defined fixed charge coverage on a consolidated basis,
     including Fitch's estimate of recurring distributions cash
     flow from unconsolidated joint ventures, sustaining above
     2.3x (coverage was 2.0x for the trailing 12 months ended
     June 30, 2010);

  -- Net debt to recurring operating EBITDA sustaining below 6.5x
     on a consolidated basis (leverage was 7.9x as of ended
     June 30, 2010).

These factors may have a negative impact on the ratings and/or
Outlook:

  -- Fitch-defined fixed charge coverage sustaining below 1.7x on
     a consolidated basis including Fitch's estimate of recurring
     distributions cash flow from unconsolidated joint ventures;

  -- Net debt to recurring operating EBITDA sustaining above 8.3x;

  -- Reduced access to capital.


AMBAC FINANCIAL: Board Committee Approves Salary Increase for CFO
-----------------------------------------------------------------
The Compensation Committee of the Board of Directors of Ambac
Financial Group Inc. approved an increase in the base salary of
David Trick, Senior Managing Director and Chief Financial Officer,
from $500,000 to $600,000, which will be effective as of July 5,
2010.

In addition, it approved a retention agreement with Mr. Trick
dated as of July 28, 2010.  This agreement provides for the
payment of two quarterly cash retention payments. In order for Mr.
Trick to keep a quarterly retention payment, he must still be
employed by the Company on the applicable Retention Date.

The retention payment schedule:

                                       Quarterly
Payment Date       Retention Date     Retention Payment
------------       --------------     -----------------
July 29, 2010      October 28, 2010   $100,000
October 29, 2010   January 29, 2011   $100,000

If the Company terminates Mr. Trick for Cause or Mr. Trick
terminates his employment with the Company for any reason
following a Payment Date but prior to the corresponding Retention
Date, Mr. Trick is required to return to the Company the retention
payment that was paid on the last occurring Payment Date prior to
the date Mr. Trick's employment terminates within thirty days
following the date that Mr.Trick's employment terminates.

                     About Ambac Financial

Headquartered in New York, Ambac Financial Group, Inc., through
its subsidiaries, provided financial guarantees and financial
services to clients in both the public and private sectors around
the world.

The Company's balance sheet as of December 31, 2009, showed
$18.886 billion in assets and $20.520 billion in debts, resulting
in a stockholders' deficit of $1.634 billion.

KPMG LLP, in New York, expressed substantial doubt about the
Company's ability to continue as a going concern after auditing
the Company's 2009 results.  The independent auditors noted that
the significant deterioration of the guaranteed portfolio coupled
with the inability to write new financial guarantees has adversely
impacted the business, results of operations and financial
condition of the Company's operating subsidiary.  KPMG also noted
that of the Company's limited liquidity.


AMELIA ISLAND: Two Investors Rival Offer of Noble Investment
------------------------------------------------------------
The Florida Times-Union notes two more investors have filed offers
to acquire the assets of Amelia Island Co.  Bidders were given
until July 29, 2010, to submit their initial offers for the assets
of Amelia Island.

Noble Investment Group, the stalking horse bidder, is under
contract to start the August 23 auction with its $45.9 million
bid.  The bidders must top Noble's bid at the auction in order to
acquire the assets.

A hearing to consider confirmation of the Chapter 11 plan of
Amelia Island, which based on the sale, is also scheduled for
Aug. 23.

Amelia Island Plantation owns a 1,350-acre resort on Amelia
Island in Florida.  The resort has 249 rooms and three
golf courses.  The property owes $28.4 million on a first mortgage
held by an affiliate of Prudential Retirement Insurance & Annuity
Co.  The collateral is said by the resort to be worth $46 million.

Amelia Island filed for Chapter 11 on Nov. 13, 2009 (Bankr. M.D.
Fla. Case No. 09-09601).  The petition says assets and debt both
exceed $50 million.


AMERICAN APPAREL: Deloitte & Touche Resigns as Accountant
---------------------------------------------------------
Deloitte & Touche LLP resigned as the independent registered
public accounting firm of American Apparel Inc. effective July 22,
2010.  Deloitte served as the Company's independent registered
public accounting firm since April 3, 2009.

During the period from April 3, 2009 through July 22, 2010,
the Company had no disagreements with Deloitte on any matter
of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure that, if not resolved
to Deloitte's satisfaction, would have caused Deloitte to make
reference to the subject matter thereof in connection with its
report on the Company's consolidated financial statements for the
year ended December 31, 2009.

Deloitte's audit report dated March 31, 2010, on the Company's
consolidated financial statements as of, and for the year ended,
December 31, 2009, did not contain an adverse opinion or a
disclaimer of opinion, nor was it qualified or modified as to
uncertainty, audit scope, or accounting principles.

During the period from April 3, 2009 through July 22, 2010, there
were no "reportable events", except that:

   i) in Deloitte's report dated March 31, 2010, on the Company's
      internal control over financial reporting as of December 31,
      2009, Deloitte identified material weaknesses in internal
      control over financial reporting related to the control
      environment and to the financial closing and reporting
      process, which are further described under Item 9A in the
      Company's 2009 Form 10-K, and advised that the Company has
      not maintained effective internal control over financial
      reporting as of December 31, 2009; and

  ii) Deloitte advised the Company that certain information has
      come to Deloitte's attention, that if further investigated
      may materially impact the reliability of either its
      previously issued audit report or the underlying
      consolidated financial statements for the year ended
      December 31, 2009 included in the Company's 2009 Form 10-K.

Deloitte has requested that the Company provide Deloitte with the
additional information Deloitte believes is necessary to review
before the Company and Deloitte can reach any conclusions as to
the reliability of the previously issued consolidated financial
statements for the year ended December 31, 2009 and auditors'
report thereon.

The Audit Committee of the Board of Directors of the Company
discussed each of these matters with Deloitte.  The Company has
authorized Deloitte to respond fully to the inquiries of the
Company's successor accountants concerning each of these matters.

In accordance with Item 304(a)(3) of Regulation S-K, the Company
provided Deloitte with a copy of the disclosures it is making in
this Current Report on Form 8-K prior to the time this Form 8-K
was filed with the SEC.  The Company requested that Deloitte
furnish a letter addressed to the SEC stating whether or not it
agrees with the statements made herein.

On July 26, 2010, the Audit Committee engaged Marcum LLP as the
Company's independent auditors to audit the Company's financial
statements.  During the fiscal years ended December 31, 2008 and
2009, and the subsequent interim period from January 1, 2010
through July 26, 2010, the Company has not, and no one on the
Company's behalf has, consulted with Marcum on any of the matters
or events set forth in Item 304(a)(2) of Regulation S-K, except
that:

   i) Marcum audited the Company's consolidated financial
      statements as of, and for the year ended, December 31, 2008,

  ii) Marcum expressed an adverse opinion on the effectiveness of
      the Company's internal control over financial reporting as
      described in the Company's Amendment No. 1 to Current Report
      on Form 8-K/A filed with the SEC on April 10, 2009,

iii) the Company discussed certain matters with Marcum as
      described in the Company's Current Report on Form 8-K filed
      with the SEC on July 23, 2009,

  iv) Marcum reissued its auditors' report, dated August 12, 2009,
      in conjunction with the Company's Amendment No. 1 to its
      Annual Report on Form 10-K for the year ended December 31,
      2008, filed with the SEC on August 13, 2009, and the 2009
      Form 10-K,

   v) Marcum issued a consent for the incorporation by reference
      of its auditors' report in the Company's Form S-8, filed
      with the SEC on November 24, 2009,

  vi) Marcum issued a consent for the incorporation by reference
      of its auditors' report in the Company's Form S-8, filed
      with the SEC on April 17, 2008 and

vii) Marcum performed related auditing, review and updating
      procedures during the time period that Marcum was terminated
      as the Company's independent registered public accounting
      firm, effective April 3, 2009, and the date that Marcum was
      reappointed on July 26, 2010.

                      About American Apparel

American Apparel, Inc. (NYSE Amex: APP) is a vertically integrated
manufacturer, distributor, and retailer of branded fashion basic
apparel based in downtown Los Angeles, California.  The Company
operated 280 retail store locations as of March 31, 2010.  It has
operations in several countries, including the United States,
Canada, Mexico, Brazil, United Kingdom, Austria, Belgium, France,
Germany, Italy, the Netherlands, Spain, Sweden, Switzerland,
Israel, Australia, Japan, South Korea, and China.  American
Apparel also operates a leading wholesale business that supplies
high quality T-shirts and other casual wear to distributors and
screen printers.  In addition to its retail stores and wholesale
operations, American Apparel operates an online retail e-commerce
Web site at http://www.americanapparel.com/

American Apparel, Inc., on June 23, 2010, entered into a Third
Amendment to its Credit Agreement, dated as of March 13, 2009,
among the Company, in its capacity as borrower, certain
subsidiaries of the Company, in their capacity as facility
guarantors, Wilmington Trust FSB, in its capacity as
administrative agent and collateral agent, Lion Capital (Americas)
Inc., as a lender, Lion/Hollywood L.L.C., as a lender, and other
lenders from time to time party thereto.

The Third Amendment amends the Lion Credit Agreement to, among
other things, replace the Total Debt to Consolidated EBITDA
financial covenant with a minimum Consolidated EBITDA financial
covenant, tested on a quarterly basis.

In May, American Apparel informed the Securities and Exchange
Commission it would delay the filing of its quarterly report on
Form 10-Q for the period ended March 31, 2010.  American Apparel
said it needs additional time to complete certain reviews and
analyses with respect to the financial statements and related
disclosures to be included in its Form 10-Q.
Loan Pricing Stories from Friday, July 30, 2010.


AMERICAN SAFETY: Moody's Cuts Probability of Default Rating to 'D'
------------------------------------------------------------------
Moody's Investors Service downgraded American Safety Razor
Company's probability-of-default rating to D from Caa3 and the
corporate family rating to Ca from Caa3.  The downgrade was
prompted by ASR's July 28, 2010 announcement that it entered
chapter 11 in the United States Bankruptcy Court.  Consistent with
Moody's Loss Given Default Methodology, the ratings on the
company's first lien senior secured credit facilities were lowered
to Caa3 from Caa2 and the second lien term loan to Ca from Caa3.

Subsequent to the actions, Moody's will withdraw the ratings
because ASR has entered bankruptcy.

These ratings were downgraded:

* Corporate Family Rating to Ca from Caa3;

* Probability-of-Default Rating to D from Caa3;

* $35M sr. sec 1st lien revolving credit facility due 2012 to Caa3
  (LGD3, 36%) from Caa2 (LGD3, 36%);

* $216M sr. sec 1st lien term loan due 2013 to Caa3 (LGD3, 36%)
  from Caa2 (LGD3, 36%);

* $175M sr. sec 2nd lien term loan due 2014 to Ca (LGD4, 55%) from
  Caa3 (LGD4, 55%).

The last rating action was on July 19, 2010, when Moody's
downgraded the corporate family rating and probability-of-default
rating to Caa3 from Caa1, the company's first lien senior secured
credit facilities to Caa2 from B3, and the rating on the second
lien term loan to Caa3 from Caa1.  The ratings outlook remained
negative.

Headquartered in Cedar Knolls, New Jersey, American Safety Razor
Company is a designer, manufacturer and marketer of brand name and
private-label consumer and industrial products.  The company
reported revenues of $335 million for the twelve months ended
April 3, 2010.


AMN HEALTHCARE: S&P Puts 'BB-' Rating on CreditWatch Negative
-------------------------------------------------------------
Standard & Poor's Rating Services placed its ratings, including
its 'BB-' corporate credit rating, on San Diego, Calif.-based AMN
Healthcare Inc. on CreditWatch with negative implications.  This
means that S&P could lower or affirm the ratings upon completion
of S&P's review.

"This action follows the company's July 28, 2010 announcement that
the company entered into definitive agreement to acquire
Medfinders using 6.3 million shares of AMN common stock and
5.7 million shares of newly issued AMN series A conditional
preferred stock," said Standard & Poor's credit analyst Rivka
Gertzulin.  AMN will amend and extend its $107 million senior
secured first lien term loan, increasing it by $68 million and
issue a $50 million senior secured second lien term loan.

Although the company's credit metrics have bolstered the rating,
they have been deteriorating, primarily because of weakness in the
travel nurse business.  While the Medfinders transaction may
improve the company's business risk profile by improving its
competitive position and diversifying its revenue base, pro forma
adjusted debt leverage will exceed 5x at the close of the
transaction (not including synergies).  This could suggest a one
notch downgrade of AMN's corporate credit rating.

S&P will resolve the CreditWatch after S&P reviews the
implications of this transaction for the company's business
strategy, and prospects for the sustained restoration of a
stronger financial risk profile.


ARAMARK CORP: Bank Debt Trades at 6% Off in Secondary Market
------------------------------------------------------------
Participations in a syndicated loan under which ARAMARK Corp. is a
borrower traded in the secondary market at 94.31 cents-on-the-
dollar during the week ended Friday, July 30, 2010, an increase of
0.94 percentage points from the previous week, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  ARAMARK pays 188 basis points above LIBOR to borrow
under the facility, which matures on Jan. 6, 2014, and is not
rated by Moody's and Standard & Poor's.  The loan is one of the
biggest gainers and losers among 193 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

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


ATLAS PIPELINE: S&P Puts 'B-' Rating on CreditWatch Positive
------------------------------------------------------------
Standard & Poor's Ratings Services said it placed its ratings on
Atlas Pipeline Partners L.P., including its 'B-' corporate credit
rating, 'B' senior secured rating, and 'CCC' senior unsecured
rating, on CreditWatch with positive implications.

The actions followed Atlas's agreement to sell its Elk City assets
to Enbridge Energy Partners L.P.  (BBB/Stable/A-2), and
management's intention to use the proceeds to fully repay its
$422 million secured term loan and reduce revolver borrowings by
$250 million to about $40 million.  S&P believes this will result
in pro forma total debt to EBITDA of about 2.5x (compared with
5.8x at March 31, 2010), although S&P expects a target of about 4x
over the longer-term.  The transaction will also free up
significant revolver capacity, enhancing liquidity.  Consequently,
S&P is revising S&P's financial risk profile to 'aggressive' from
'highly leveraged'.

S&P also views Atlas as more geographically concentrated than its
gathering and processing peers, and therefore marginally weaker
from a business risk perspective, because the company gave up
access to the Granite Wash region and will become more dependent
on the Marcellus Shale over time.

S&P believes Atlas will deploy most of its future growth capital
to build out its Laurel Mountain joint venture (subject to
receiving a waiver from lenders lifting a capital spending
restriction).  However, the amount of growth capital required, the
potential effect on the company's liquidity, and the timing of
incremental cash flow over the next 18 to 24 months is uncertain
at this juncture.

"In resolving the CreditWatch, S&P will assess how Atlas plans to
approach its growth in Appalachia and the effect the strategy
could have on the company's rating," said Standard & Poor's credit
analyst Michael Grande.

S&P expects to resolve the CreditWatch listing within the next one
to two months.  S&P anticipate that if S&P upgrade the corporate
credit rating it would be limited to one notch.  Based on a
preliminary review of the pro forma capital structure, S&P would
anticipate revising the senior secured recovery rating to '1' from
'2', and the senior unsecured recovery rating to '5' from '6'.


AUTOZONE INC: Crowley, Tynan Report Sale of Shares
--------------------------------------------------
AutoZone Inc. director William C. Crowley disclosed selling 297
shares of the Company's common stock on July 27, 28 and 29,
reducing his stake to 16,549 shares.  He directly holds those
shares.

Tynan, LLC, a limited liability company of which Mr. Crowley is
the manager and a member, sold 429 shares on July 27, 28 and 29.
Following the transaction, Tynan reduced its stake to 23,822
shares.  Mr. Crowley may be deemed to indirectly hold those
shares.

The shares were sold between $211.09 and $212.66 per share.

Mr. Crowley is the President and Chief Operating Officer of ESL
Investments, Inc., which together with various of its affiliates
beneficially owns securities of AutoZone.  Mr. Crowley disclaims
beneficial ownership of all AutoZone securities beneficially owned
by Investments.

                        About AutoZone

As of February 13, 2010, in Memphis, Tenn.-based AutoZone, Inc.
(NYSE:AZO) sells auto and light truck parts, chemicals and
accessories through 4,289 AutoZone stores in 48 U.S. states plus
the District of Columbia and Puerto Rico and 202 stores in Mexico.
AutoZone is a retailer and distributor of automotive replacement
parts and accessories in the United States.  AutoZone does not
derive revenue from automotive repair or installation.

As of February 14, 2010, the Company had $5,424,992,000 in total
assets, including $2,648,713,000 in total current assets; against
total current liabilities of $2,749,324,000; debt of
$2,774,700,000; and other liabilities of $322,639,000; resulting
in stockholders' deficit of $421,671,000.


AUTOZONE INC: Eddie Lampert, ESL Funds Report Sale of Shares
------------------------------------------------------------
Edward S. Lampert disclosed selling shares of AutoZone Inc. common
stock on July 27 and 28.  In total, Mr. Lampert sold 60,174
shares.  Following the sale, he may be deemed to beneficially own
4,012,839 shares.

On July 29, Mr. Lampert sold 12,298 shares, reducing his stake to
4,000,541 shares.

Mr. Lampert directly holds those shares.

ESL Partners, L.P., a fund affiliated with Mr. Lampert, sold
121,492 company shares during the period, reducing its stake to
8,165,313 shares.  ESL Investors, L.L.C., another affiliated fund,
sold 36,261 shares, reducing its stake to 2,436,958 shares.  ESL
Institutional Partners, L.P., sold 26 shares, reducing its stake
to 1,763 shares.

On July 29, ESL Partners sold 24,831 shares, reducing its stake to
8,140,482 shares.  ESL Investors sold 7,411 shares, reducing its
stake to 2,429,547 shares.  ESL Institutional Partners sold 5
shares, reducing its stake to 1,758 shares.

The shares sold on July 27 and 28 fetched between $211.09 and
$212.66 per share.

The shares sold on July 29 fetched $211.21 on average per share.

Mr. Lampert may be deemed to indirectly hold those shares in the
affiliated funds.

Mr. Lampert may also be deemed to indirectly hold 31,316 shares
that are held in grantor retained annuity trusts, of which Mr.
Lampert is the trustee.  He may also be deemed to indirectly hold
2,000,000 shares held by Acres Partners, L.P.

Mr. Lampert is the Chairman, Chief Executive Officer and Director
of ESL Investments Inc.

                        About AutoZone

As of February 13, 2010, in Memphis, Tenn.-based AutoZone, Inc.
(NYSE:AZO) sells auto and light truck parts, chemicals and
accessories through 4,289 AutoZone stores in 48 U.S. states plus
the District of Columbia and Puerto Rico and 202 stores in Mexico.
AutoZone is a retailer and distributor of automotive replacement
parts and accessories in the United States.  AutoZone does not
derive revenue from automotive repair or installation.

As of February 14, 2010, the Company had $5,424,992,000 in total
assets, including $2,648,713,000 in total current assets; against
total current liabilities of $2,749,324,000; debt of
$2,774,700,000; and other liabilities of $322,639,000; resulting
in stockholders' deficit of $421,671,000.


AVAYA INC: Bank Debt Trades at 11% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Avaya, Inc., is a
borrower traded in the secondary market at 88.94 cents-on-the-
dollar during the week ended Friday, July 30, 2010, an increase of
2.55 percentage points from the previous week, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  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 193 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

Avaya, Inc., based in Basking Ridge, New Jersey, is a supplier of
communications systems and software for enterprise customers.

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).


AVIS BUDGET: Moody's Maintains Corporate Family Rating at 'B2'
--------------------------------------------------------------
Moody's Investors Service is maintaining its current B2 Corporate
Family Rating and Positive Outlook for Avis Budget Group, Inc.,
following the company's announcement that it has submitted a
$1.3 billion offer to acquire Dollar Thrifty Automotive Group,
Inc.

The maintenance of Avis' current ratings and outlook recognizes
that the offer is not definitive and has not been accepted by
Dollar.  Under current terms of the existing agreement, Hertz
Corporation would acquire Dollar for $1.1 billion and has the
right to counter the Avis' offer.  Should the Avis purchase of
Dollar be consummated, Avis' positive rating outlook might not be
sustained as a result of an increase in acquisition related debt.

However, if the transaction does not proceed, Avis' improving
operating performance and more favorable industry fundamentals
would continue to support a positive outlook.  Avis' positive
outlook reflects the benefits from the cost cutting initiatives
that the company has undertaken and from improving fundamentals
within the daily rental market.  These favorable industry
fundamentals include: industry-wide fleet size that is being
managed in line with demand, an outlook for used car prices to
remain strong through 2011, strengthening daily rental pricing,
and improved availability of ABS financing to support fleet
purchases.  In the absence of a Dollar acquisition and the related
increase in Avis' corporate debt, these factors would continue to
support a possible improvement in Avis' rating.

Nonetheless, Moody's believes that the acquisition of Dollar by
either Avis or Hertz would represent an additional positive for
industry fundamentals.  It would result in the industry consisting
of three main players (Avis, Hertz and Enterprise) and would
likely support greater stability with respect to the industry's
overall fleet size, used car values, and vehicle rental rates.

If Avis' $1.3 billion offer for Dollar is successful the company
would likely achieve considerable cost synergies as a result of
the acquisition, and improve its competitive position in the value
segment of the US automobile daily rental sector.  However,
Moody's estimates that it would take 12 to 18 months for Avis to
fully realizing these potential savings.  In the meantime, the
company's already high level of corporate debt (approximately
$2.1 billion compared with $4.6 billion in fleet debt), would
increase considerably.  A positive outlook may not be sustainable
given an increase in corporate debt and the time frame necessary
to achieve the anticipated synergies.

The last rating action on Avis was a change in the outlook to
positive from negative on February 17, 2010.

Avis Budget Car Rental LLC, headquartered in Parsippany, NJ, is a
leading competitor in the US on-airport car rental sector.


AVISTAR COMMS: Files Form 10-Q for June 30 Quarter
--------------------------------------------------
Avistar Communications Corporation filed its quarterly report on
Form 10-Q with the Securities and Exchange Commission.

According to the Troubled Company Reporter on July 27, 2010,
financial highlights included total revenue for the second quarter
of 2010 was $1.0 million, as compared to $2.9 million for the
quarter ended June 30, 2009, reflecting lower product and services
revenue during a period of intense new product development.

Net loss in the second quarter of 2010 was $2.4 million, or $0.06
per basic and diluted share, as compared to a net loss of
$151,000, or $0.00 per share, in the second quarter of 2009.

The Company's balance sheet at June 30, 2010, showed $2.24 million
in total assets and $7.42 million in total liabilities, for a
stockholders' deficit of $5.18 million.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6707

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?675d

                   About Avistar Communications

Headquartered in San Mateo, California, Avistar Communications
Corporation (Nasdaq: AVSR) -- http://www.avistar.com/-- holds a
portfolio of 80 patents for inventions in video and network
technology and licenses IP to videoconferencing, rich-media
services, public networking and related industries.  Current
licensees include Sony Corporation, Sony Computer Entertainment
Inc. (SCEI), Polycom Inc., Tandberg ASA, Radvision Ltd. and
Emblaze-VCON.


BAYSIDE SAVINGS BANK: Closed; Centennial Bank Assumes All Deposits
------------------------------------------------------------------
Bayside Savings Bank of Port Saint Joe, Fla., and Coastal
Community Bank, Panama City Beach, Fla., were closed on Friday,
July 30, 2010, by federal and state banking agencies, which then
appointed the Federal Deposit Insurance Corporation as receiver
for both institutions.  To protect depositors, the FDIC entered
into purchase and assumption agreements with Centennial Bank of
Conway, Ark., to assume all the deposits and essentially all the
assets of the two failed institutions.  Bayside Savings Bank was
closed by the Office of Thrift Supervision, and Coastal Community
Bank was closed by the Florida Office of Financial Regulation.
Collectively, the two failed institutions operated 13 branches,
which will reopen as branches of Centennial Bank during normal
business hours, including those offices with Saturday hours.
Bayside Savings Bank has two branches, and Coastal Community Bank
has eleven branches.

Depositors of Bayside Savings Bank and Coastal Community Bank will
automatically become depositors of Centennial Bank.  Deposits will
continue to be insured by the FDIC, so there is no need for
customers to change their banking relationship to retain their
deposit insurance coverage.  Customers of the two failed
institutions should continue to use their former branches.  Over
the weekend, depositors can access their money by writing checks
or using ATM or debit cards.

As of March 31, 2010, Bayside Savings Bank had total assets of
$66.1 million and total deposits of $52.4 million.  Coastal
Community Bank had total assets of $372.9 million and total
deposits of $363.2 million.  Centennial Bank did not pay the FDIC
a premium for the deposits of the failed banks.  In addition to
assuming all the deposits from the two Florida institutions,
Centennial Bank will purchase virtually all their assets.

The FDIC and Centennial Bank entered into loss-share transactions
on $48.3 million of Bayside Savings Bank's assets and
$302.8 million of Coastal Community Bank's assets. Centennial Bank
will share in the losses on the asset pools covered under the
loss-share agreement.  The loss-share transaction is projected to
maximize returns on the assets covered by keeping them in the
private sector.  The transaction also is expected to minimize
disruptions for loan customers. For more information on loss
share, visit:

http://www.fdic.gov/bank/individual/failed/lossshare/index.html

Customers who have questions about the transactions can call the
FDIC toll free: for Bayside Savings Bank customers, 1-800-405-
6318; and for Coastal Community Bank customers, 1-800-523-0640.
Interested parties can also visit the FDIC's Web sites:

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $16.2 million for Bayside Savings Bank and $94.5 million
for Coastal Community Bank.  Compared to other alternatives,
Centennial Bank's acquisition was the least costly resolution for
the FDIC's DIF.  These two closings bring total closures for the
year to 106 banks in the nation, and the 19th and 20th in Florida.
Prior to these failures, the last bank closed in Florida was
Sterling Bank, Lantana, on July 23, 2010.


BERNARD MADOFF: Trustee Sues to Recover Business Investments
------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Irving H. Picard, the
trustee for Bernard L. Madoff Investment Securities Inc., filed
three lawsuits to recover $34.5 million and ownership interests in
businesses that Bernard Madoff's family members purchased with
money that was allegedly stolen from the Madoff firm's customers.

Mr. Picard filed adversary cases against these parties:

        Case No.      Defendants
        -------       ----------
        10-03485      Madoff Family LLC

        10-03484      Madoff Energy Holdings LLC, Madoff Energy
                      LLC, Conglomerate Gas Resources LLC, Madoff
                      Energy III LLC, Madoff Energy IV LLC

        10-03483      Madoff Technologies LLC, Madoff Brokerage &
                      Trading Technology, LLC, Primex Holdings,
                      LLC

According to Bloomberg, the court documents say Mr. Madoff gave
$250 million to his closest family members, including his wife,
brother, two sons and a niece.  The money allegedly was used to
"fund lavish lifestyles" and provide $22 million for investment in
businesses.

                    About Bernard L. Madoff

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

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

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

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

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

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


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 97.26 cents-on-the-
dollar during the week ended Friday, July 30, 2010, an increase of
0.82 percentage points from the previous week, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  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 193 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: Files List of 3 Largest Unsecured Creditors
------------------------------------------------------------
BMS Real Estate, LLC, has filed with the U.S. Bankruptcy Court for
the District of Arizona a list of its three largest unsecured
creditors, disclosing:

   Entity                      Nature of Claim       Claim Amount
   ------                      ---------------       ------------
Celtic Bank                   Guaranty of loan to
340 East 400 South            Brown Motor
Salt Lake City, UT 84111      Sports, Inc.               $240,000

Brian Brown
1435 E. Old West Highway
Apache Junction, AZ 85219     Loan                       $168,382

Dolphin Capital Corp
P.O. Box 644006               Materials (water
Cincinnati, OH 45264          softer system                $1,861

Apache Junction, Arizona-based BMS Real Estate, LLC, filed for
Chapter 11 bankruptcy protection on July 19, 2010 (Bankr. D. Ariz.
Case No. 10-22387).  J. Kent Mackinlay, Esq., at Warnock,
Mackinlay & Carman, PLLC, assists the Company in its restructuring
effort.  The Company estimated its assets and debts at $1,000,001
to $100,000,000 as of the Petition Date.


BMS REAL ESTATE: Files Schedules of Assets & Liabilities
--------------------------------------------------------
BMS Real Estate, 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                        $800,000
B. Personal Property                    $128,200
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                       $1,856,000
E. Creditors Holding
   Unsecured Priority
   Claims                                                       $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                 $410,243
                                     -----------       -----------
      TOTAL                             $928,200        $2,266,243

Apache Junction, Arizona-based BMS Real Estate, LLC, filed for
Chapter 11 bankruptcy protection on July 19, 2010 (Bankr. D. Ariz.
Case No. 10-22387).  J. Kent Mackinlay, Esq., at Warnock,
Mackinlay & Carman, PLLC, assists the Company in its restructuring
effort.


BMS REAL ESTATE: LNV Wants to Prevent Cash Collateral Use
--------------------------------------------------
A secured creditor, LNV Corporation, has asked the U.S. Bankruptcy
Court for the District of Arizona to prohibit BMS Real Estate,
LLC, from using the cash collateral.

The Debtor assigned all rents from its property securing LNV's
deed of trust.  The profits and rents generated by the Property
constitute LNV's cash collateral.  LNV doesn't consent to the
Debtor's use of cash collateral.

LNV is represented by Lewis And Roca LLP.

Apache Junction, Arizona-based BMS Real Estate, LLC, filed for
Chapter 11 bankruptcy protection on July 19, 2010 (Bankr. D. Ariz.
Case No. 10-22387).  J. Kent Mackinlay, Esq., at Warnock,
Mackinlay & Carman, PLLC, assists the Company in its restructuring
effort.  The Company estimated its assets and debts at $1,000,001
to $100,000,000.


BMS REAL ESTATE: Section 341(a) Meeting Scheduled for August 26
---------------------------------------------------------------
The U.S. Trustee for Region 14 will convene a meeting of BMS Real
Estate, LLC's creditors on August 26, 2010, at 12:00 p.m.  The
meeting will be held at the U.S. Trustee Meeting Room, James A.
Walsh Court, 38 S Scott Ave, St 140, Tucson, Arizona.

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.

Apache Junction, Arizona-based BMS Real Estate, LLC, filed for
Chapter 11 bankruptcy protection on July 19, 2010 (Bankr. D. Ariz.
Case No. 10-22387).  J. Kent Mackinlay, Esq., at Warnock,
Mackinlay & Carman, PLLC, assists the Company in its restructuring
effort.  The Company estimated its assets and debts at $1,000,001
to $100,000,000 as of the Petition Date.


BMS REAL ESTATE: Taps Warnock MacKinlay as Bankruptcy Counsel
-------------------------------------------------------------
BMS Real Estate, LLC, sought and obtained authorization from the
Hon. Eileen W. Hollowell of the U.S. Bankruptcy Court for the
District of Arizona to employ Warnock, MacKinlay & Carman,
P.L.L.C., as bankruptcy counsel.

The Debtor requires the assistance of Warnock MacKinlay to provide
counsel in this matter, to deal with creditors, to file
appropriate pleadings, and to file a plan of reorganization.
Warnock MacKinlay will be paid $225 per hour for its services.

J. Kent MacKinlay Esq., at Warnock MacKinlay, assures the Court
that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

Apache Junction, Arizona-based BMS Real Estate, LLC, filed for
Chapter 11 bankruptcy protection on July 19, 2010 (Bankr. D. Ariz.
Case No. 10-22387).  The Company estimated its assets and debts at
$1,000,001 to $100,000,000.


BROWN PUBLISHING: Insiders Allowed to Buy Most Assets
-----------------------------------------------------
Bill Rochelle at Bloomberg News reports that Brown Publishing Co.
received approval from the Bankruptcy Court to sell:

     -- most of the Debtor's assets to a group including
        Roy Brown, the Debtor's president and chief executive,
        $22.41 million plus $900,000 in assumption or waiver of
        debt, and

     -- three of its publications in Ohio to The Delphos Herald
        Inc. for $3.59 million cash.

Before the auction, the Brown group was under contract for
$15.9 million.

According to Bloomberg, the bankruptcy judge refused to approve
the sale of three parcels of real property for $10,000 to the
insider group, saying there hadn't been sufficient marketing.

                   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 Web sites.
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.


BUILDERS FIRSTSOURCE: Files Quarterly Report on Form 10-Q
---------------------------------------------------------
Builders FirstSource Inc. filed its quarterly report on Form 10-Q
with the Securities and Exchange Commission.

As reported by the Troubled Company Reporter on July 27, the
Company has announced that for the second quarter ended June 30,
2010, net loss was $19.0 million, or $0.20 loss per diluted share,
compared to net loss of $22.6 million, or $0.58 loss per diluted
share.

The Company's balance sheet at June 30, 2010, showed
$466.19 million in total assets and $264.87 million in total
liabilities, for a $201.32 million stockholders' equity.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?670a

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?675e

Headquartered in Dallas, Texas, Builders FirstSource Inc. --
http://www.bldr.com/-- is a supplier and manufacturer of
structural and related building products for residential new
construction.  The company operates in 9 states, principally in
the southern and eastern United States, and has 55 distribution
centers and 51 manufacturing facilities, many of which are located
on the same premises as its distribution facilities.

                           *     *     *

According to the Troubled Company Reporter on Jan. 28, 2010,
Standard & Poor's Ratings Services raised its corporate credit
rating on Dallas-based Builders FirstSource Inc., a manufacturer
and supplier of building products for new residential
construction, to 'CCC+' from 'SD'.  The outlook is positive.


BURA KELLEY: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Bura Ray Kelley
        P.O. Box 1066
        Decatur, TX 76234

Bankruptcy Case No.: 10-44833

Chapter 11 Petition Date: July 27, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: Russell F. Nelms

Debtor's Counsel: Stephanie Diane Curtis, Esq.
                  The Curtis Law Firm, PC
                  901 Main Street, Suite 6515
                  Dallas, TX 75202
                  Tel: (214) 752-2222
                  Fax: (214) 752-0709
                  E-mail: scurtis@curtislaw.net

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

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

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

The petition was signed by the Debtor.


CABLEVISION SYSTEMS: Debt Trades at 1.18% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Cablevision
Systems Corporation is a borrower traded in the secondary market
at 98.82 cents-on-the-dollar during the week ended Friday,
July 30, 2010, an increase of 0.78 percentage points from the
previous week, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  The Company pays 325
basis points above LIBOR to borrow under the facility.  The bank
loan matures on March 29, 2013, and carries Moody's Baa3 rating
and Standard & Poor's BBB- rating.  The loan is one of the biggest
gainers and losers among 193 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

As reported by the Troubled Company Reporter on July 27, 2010,
Fitch Ratings affirmed the 'BB-' Issuer Default Ratings assigned
to Cablevision Systems Corporation and its wholly owned subsidiary
CSC Holdings LLC.  In addition, Fitch has affirmed Cablevision
Systems' senior unsecured debt at 'B-' and CSC Holdings' senior
secured credit facility at 'BB+' and senior unsecured debt at
'BB'.  The Rating Outlook is Stable.  As of March 31, 2010, CVC
had around $11.4 billion of debt outstanding.  Fitch noted that on
a consolidated basis, CVC's leverage metric for the last 12 months
ended March 31, 2010, was 4.4 times reflecting the steady
improvement from 6.86x as of year-end 2006.

Headquartered in Bethpage, New York, Cablevision Systems
Corporation is predominantly a domestic cable TV multiple system
operator serving around 3.1 million subscribers in and around the
New York metropolitan area.  Among other entertainment-and media-
related business ventures, the company also owns and distributes
programming to cable television and direct broadcast satellite
providers throughout the United States through its Rainbow
National Services subsidiary.


CELL THERAPEUTICS: Annual Shareholders' Meeting Set for Sept. 16
----------------------------------------------------------------
The Cell Therapeutics, Inc., Annual Meeting of Shareholders will
be held at 10:00 a.m. Pacific Daylight Time (PDT) on Thursday,
September 16, 2010, at 501 Elliott Avenue West, Suite 400,
Seattle, Washington.

The purposes of the meeting are:

     (1) to elect two Class I directors to the Company's board of
         directors, each to serve until the 2013 Annual Meeting of
         Shareholders;

     (2) to approve an amendment to the Company's amended and
         restated articles of incorporation to increase the total
         number of authorized shares from 810,000,000 to
         1,210,000,000 and to increase the total number of
         authorized shares of common stock from 800,000,000 to
         1,200,000,000;

     (3) to approve an amendment to the Company's 2007 Equity
         Incentive Plan, as amended, to increase the number of
         shares available for issuance under the 2007 Equity Plan
         by 45,000,000 shares;

     (4) to ratify the selection of Stonefield Josephson, Inc. as
         the Company's independent auditors for the year ending
         December 31, 2010;

     (5) to approve the adjournment of the Annual Meeting, if
         necessary or appropriate, to solicit additional proxies
         if there are insufficient votes at the time of the Annual
         Meeting to adopt Proposals (1) through (4); and

     (6) to transact such other business as may properly come
         before the meeting and all adjournments and postponements
         thereof.

Shareholders of record at the close of business on July 27, 2010,
the record date fixed by the Board of Directors of the Company,
are entitled to vote at the Annual Meeting and all adjournments
and postponements thereof.

A full-text copy of the Company's proxy statement is available at
no charge at http://ResearchArchives.com/t/s?6771

                     About Cell Therapeutics

Headquartered in Seattle, Washington, Cell Therapeutics, Inc.
(NASDAQ and MTA: CTIC) -- http://www.CellTherapeutics.com/-- is a
biopharmaceutical company that develops an integrated portfolio of
oncology products aimed at making cancer more treatable.
Subsequent to the closure of its Bresso, Italy operations in
September 2009, CTI's operations are conducted solely in the
United States.

At March 31, 2010, the Company had $75,531,000 total assets and
$85,243,000 in total liabilities.

                       Going Concern Doubt

San Francisco-based Stonefield Josephson, Inc., has included an
explanatory paragraph in their report on Cell Therapeutics, Inc.'s
December 31, 2009, 2008 and 2007 consolidated financial statements
regarding their substantial doubt as to the Company's ability to
continue as a going concern.  The independent auditors reported
that the Company has sustained loss from operations over the audit
periods, incurred an accumulated deficit, and has substantial
monetary liabilities in excess of monetary assets as of
December 31, 2009.

                      Bankruptcy Warning

In its Form 10-Q report for the period ended September 30, 2009,
filed with the Securities and Exchange Commission, the Company
warned it does not expect it will have sufficient cash to fund
planned operations through the second quarter of 2010, which
raises substantial doubt about its ability to continue as a going
concern.  The Company said if it fails to obtain capital when
required, the Company said it may be required to delay, scale
back, or eliminate some or all of its research and development
programs and may be forced to cease operations, liquidate its
assets and possibly seek bankruptcy protection.


CELL THERAPEUTICS: Director Nudelman Sells 40,000 Shares
--------------------------------------------------------
Phillip M. Nudelman Ph.D., a director at Cell Therapeutics, Inc.,
disclosed selling 40,000 company shares on July 30, 2010.  The
shares sold for between $0.39 and $0.401.  The sale reduced his
stake to 2,494,865 shares.

The sales were effected pursuant to a Rule 10b5-1 trading plan.

At the close of business on July 27, there were issued and
outstanding 758,475,531 company shares.

                     About Cell Therapeutics

Headquartered in Seattle, Washington, Cell Therapeutics, Inc.
(NASDAQ and MTA: CTIC) -- http://www.CellTherapeutics.com/-- is a
biopharmaceutical company that develops an integrated portfolio of
oncology products aimed at making cancer more treatable.
Subsequent to the closure of its Bresso, Italy operations in
September 2009, CTI's operations are conducted solely in the
United States.

At March 31, 2010, the Company had $75,531,000 total assets and
$85,243,000 in total liabilities.

                       Going Concern Doubt

San Francisco-based Stonefield Josephson, Inc., has included an
explanatory paragraph in their report on Cell Therapeutics, Inc.'s
December 31, 2009, 2008 and 2007 consolidated financial statements
regarding their substantial doubt as to the Company's ability to
continue as a going concern.  The independent auditors reported
that the Company has sustained loss from operations over the audit
periods, incurred an accumulated deficit, and has substantial
monetary liabilities in excess of monetary assets as of
December 31, 2009.

                      Bankruptcy Warning

In its Form 10-Q report for the period ended September 30, 2009,
filed with the Securities and Exchange Commission, the Company
warned it does not expect it will have sufficient cash to fund
planned operations through the second quarter of 2010, which
raises substantial doubt about its ability to continue as a going
concern.  The Company said if it fails to obtain capital when
required, the Company said it may be required to delay, scale
back, or eliminate some or all of its research and development
programs and may be forced to cease operations, liquidate its
assets and possibly seek bankruptcy protection.


CELL THERAPEUTICS: Registers 4,060 Shares to Be Sold by Cranshire
-----------------------------------------------------------------
Cell Therapeutics, Inc., filed with the Securities and Exchange
Commission a prospectus supplement relating to the offer and sale
from time to time of 4,060 shares of its Series 6 Preferred Stock
and the 11,600,000 shares of its common stock issuable from time
to time upon conversion of the Series 6 Preferred Stock by
Cranshire Capital, L.P., as selling shareholder.

The Company will receive no proceeds from any sale by the selling
shareholder of the shares of Series 6 Preferred Stock or common
stock covered by the prospectus.

Downsview Capital, Inc., is the general partner of Cranshire
Capital and consequently has voting control and investment
discretion over securities held by Cranshire.  Mitchell P. Kopin,
President of Downsview, has voting control over Downsview.  As a
result, each of Mr. Kopin and Downsview may be deemed to have
beneficial ownership of the shares of common stock beneficially
owned by Cranshire.

The selling shareholder may offer the shares from time to time
directly or through underwriters, broker-dealers or agents and in
one or more public or private transactions at market prices
prevailing at the time of sale, at fixed prices, at negotiated
prices, at various prices determined at the time of sale or at
prices related to prevailing market prices. If the shares are sold
through underwriters, broker-dealers or agents, the selling
shareholder or purchasers of the shares will be responsible for
underwriting discounts or commissions or agents' commissions.  The
timing and amount of any sale is within the selling shareholder's
sole discretion, subject to certain restrictions.

The Series 6 Preferred Stock will not be listed on any national
securities exchange.  The Company's common stock is quoted on The
NASDAQ Capital Market and on the Mercato Telematico Azionario
stock market in Italy, under the symbol "CTIC." On July 26, 2010,
the last reported sale price of the common stock on The NASDAQ
Capital Market was $0.40.

                     About Cell Therapeutics

Headquartered in Seattle, Washington, Cell Therapeutics, Inc.
(NASDAQ and MTA: CTIC) -- http://www.CellTherapeutics.com/-- is a
biopharmaceutical company that develops an integrated portfolio of
oncology products aimed at making cancer more treatable.
Subsequent to the closure of its Bresso, Italy operations in
September 2009, CTI's operations are conducted solely in the
United States.

At March 31, 2010, the Company had $75,531,000 total assets and
$85,243,000 in total liabilities.

                       Going Concern Doubt

San Francisco-based Stonefield Josephson, Inc., has included an
explanatory paragraph in their report on Cell Therapeutics, Inc.'s
December 31, 2009, 2008 and 2007 consolidated financial statements
regarding their substantial doubt as to the Company's ability to
continue as a going concern.  The independent auditors reported
that the Company has sustained loss from operations over the audit
periods, incurred an accumulated deficit, and has substantial
monetary liabilities in excess of monetary assets as of
December 31, 2009.

                      Bankruptcy Warning

In its Form 10-Q report for the period ended September 30, 2009,
filed with the Securities and Exchange Commission, the Company
warned it does not expect it will have sufficient cash to fund
planned operations through the second quarter of 2010, which
raises substantial doubt about its ability to continue as a going
concern.  The Company said if it fails to obtain capital when
required, the Company said it may be required to delay, scale
back, or eliminate some or all of its research and development
programs and may be forced to cease operations, liquidate its
assets and possibly seek bankruptcy protection.


CENTAUR LLC: To Auction Off Colorado Casino on August 23
--------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Centaur LLC won
approval to hold an auction on Aug. 23 to learn if the offer from
Luna Gaming Central City LLC is the best bid for the Fortune
Valley Hotel & Casino 40 miles west of Denver.  Fortune Valley,
the stalking horse bidder, is offering $7.5 million in cash plus a
$2.5 million note, less adjustments.  Other bids are due Aug. 18,
with a hearing for approval of the sale on Aug. 23.

According to the report, Centaur also received an extension of the
exclusive right to solicit acceptances of a Chapter 11 plan until
Sept. 30.  Centaur filed a revised reorganization plan on July 22
where holders of $405 million in first-lien debt are expected to
recover 83.3% from a combination of mostly new stock and debt.
Holders of $207 million in second-lien debt are slated to recover
1.4% of their claims.

                       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 and its affiliates 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 listed assets of $584 million and debt of
$681 million.

Affiliates Centaur PA Land LP and Valley View Downs LP filed for
bankruptcy reorganization in October to keep alive a project to
develop a racetrack in Pennsylvania.  The filings were made
following the failure to make payments due in October on a
$382.5 million first-lien debt and a $192 million second-lien
credit.

All the companies are subsidiaries of closely held Centaur Inc.,
which isn't in bankruptcy.


CHARTER COMMS: Bank Debt Trades at 5% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Charter
Communications, Inc., is a borrower traded in the secondary market
at 94.80 cents-on-the-dollar during the week ended Friday,
July 30, 2010, an increase of 1.25 percentage points from the
previous week, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  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 193 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

Based in St. Louis, Missouri, Charter Communications, Inc. (Pink
OTC: CHTRQ) -- http://www.charter.com/-- is a broadband
communications company and the fourth-largest cable operator in
the United States.  Charter 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)


CHEMTURA CORP: Sells Sulfonates and Oxidized Petrolatum Businesses
------------------------------------------------------------------
Chemtura Corporation, debtor-in-possession has completed the sale
of the natural sodium sulfonates and oxidized petrolatum product
lines of its Petroleum Additives business to Sonneborn Inc., an
affiliate of private investment firm Sun Capital Partners, Inc.

The sale includes certain assets and the assumption of certain
liabilities.  Assets include the Petronate(TM) sodium sulfonate
detergent and Oxpet(TM) oxidized petrolatum corrosion inhibitor
brands, customer information, and working capital. Petronate(TM)
emulsifiers are additives that are designed to provide
emulsification for mineral oil and water based lubricant systems.
Oxpet(TM) oxidized petrolatum corrosion inhibitors provide rust
protection in formulating industrial metal protective compounds.

The transaction was recently approved by the United States
Bankruptcy Court for the Southern District of New York.

                       About Chemtura Corp.

Based in Middlebury, Connecticut, Chemtura Corporation (CEM) --
http://www.chemtura.com/-- with 2008 sales of $3.5 billion, is a
global manufacturer and marketer of specialty chemicals, crop
protection products, and pool, spa and home care products.
Chemtura Corporation and 26 of its U.S. affiliates filed voluntary
petitions for relief under Chapter 11 on March 18, 2009 (Bankr.
S.D.N.Y. Case No. 09-11233).  M. Natasha Labovitz, Esq., at
Kirkland & Ellis LLP, in New York, serves as bankruptcy counsel.
Wolfblock LLP serves as the Debtors' special counsel.  The
Debtors' auditors and accountant are KPMG LLP; their investment
bankers are Lazard Freres & Co.; their strategic communications
advisors are Joele Frank, Wilkinson Brimmer Katcher; their
business advisors are Alvarez & Marsal LLC and Ray Dombrowski
serves as their chief restructuring officer; and their claims and
noticing agent is Kurtzman Carson Consultants LLC. As of

December 31, 2008, the Debtors had total assets of $3.06 billion
and total debts of $1.02 billion.  Bankruptcy Creditors' Service,
Inc., publishes Chemtura Bankruptcy News.  The newsletter tracks
the Chapter 11 proceedings undertaken by Chemtura Corp. and its
affiliates.  (http://bankrupt.com/newsstand/or 215/945-7000)


CHINA CABLECOM: Receives NASDAQ Deficiency Letter
-------------------------------------------------
China Cablecom Holdings, Ltd. has received a Nasdaq Staff
Deficiency Letter dated July 26, 2010, notifying the Company of
its trading activity over the preceding 30 consecutive business
days, which was below the minimum closing bid price of $1.00 under
Nasdaq Marketplace Rule 5550 (a)(2).

In accordance with Nasdaq Marketplace Rule 5810 (c)(3)(A), China
Cablecom will be granted 180 calendar days, or until January 24,
2011 to regain compliance by maintaining a closing bid price at
$1.00 per share or more of a minimum of 10 consecutive business
days.  Should the Company be unable to meet the minimum bid
requirement during this initial compliance period, it will then
receive written notification that its securities are subject to
delisting.  The letter has no effect on the listing of the China
Cablecom's common stock at this time and the Company will seek to
regain compliance to ensure continued listing on the Nasdaq Stock
Market.

                      About China Cablecom

China Cablecom is a joint-venture provider of cable television
services in the People's Republic of China, operating in
partnership with a local state-owned enterprise authorized by the
PRC government to control the distribution of cable TV services
through the deployment of analog and digital cable services.
China Cablecom has consummated the acquisition of a 55 percent
economic interest in a cable network in Hubei province with paying
subscribers exceeding 1,100,000.  The Company originally acquired
operating rights of the Binzhou Broadcasting network in Binzhou,
Shandong Province in September 2007 by entering into a series of
asset purchase and services agreements with a company organized by
SOEs, owned directly or indirectly by local branches of State
Administration of Radio, Film and Television in five different
municipalities to serve as a holding company of the relevant
businesses. China Cablecom now operates 28 cable networks with
over 1.7 million paying subscribers.  China Cablecom's strategy is
to replicate the acquisitions by operating partnership models in
other municipalities and provinces in the PRC and then introducing
operating efficiencies and increasing service offerings in the
networks in which it operates.


CHRYSLER LLC: Sterling Heights Assembly Plant Will Remain Open
----------------------------------------------------------------
Chrysler Group LLC disclosed that Sterling Heights (Mich.)
Assembly Plant (SHAP), previously designated for closure in 2012,
will remain open, adding a second shift of production - or nearly
900 jobs - in Q1 2011

Suppliers will add nearly 500 jobs to support SHAP production

Chrysler Group to sell nearly 200,000 units in Europe and South
America, more than double 2010 volumes

To thunderous applause, more than 1,500 UAW-represented employees
at Chrysler Group LLC's Jefferson North (Detroit) Assembly Plant
(JNAP) welcomed President Obama to the home of the all-new 2011
Jeep(R) Grand Cherokee.

The President visited the Chrysler plant a little more than a year
after the Company emerged from bankruptcy to see a company that is
on the road to recovery.

Since June 2009, Chrysler Group has reported an operating profit
of $143 million for the first quarter of 2010; has added a second
shift of production - or nearly 1,100 jobs - at JNAP; launched the
all-new Grand Cherokee in May; announced that it will invest $179
million to launch production of the 1.4-liter, 16-valve Fully
Integrated Robotized Engine (FIRE) at the company's Global Engine
Manufacturing Alliance (GEMA) plant in Dundee, Mich., creating
more than 150 new Chrysler jobs; and committed to investing more
than $343 million in its transmission facilities in Kokomo, Ind.

During the President's visit, Chrysler Group CEO Sergio Marchionne
announced that Sterling Heights (Mich.) Assembly Plant (SHAP),
which was scheduled to close after 2012, will now remain open
beyond that date.  In addition, he announced that the Company will
add nearly 900 jobs on a second shift of production, scheduled to
start in the first quarter of 2011.  To support that operation,
suppliers will add nearly 500 jobs.

Marchionne also said that Chrysler also expects its European and
South American sales to double between 2010 and 2011, to nearly
200,000 sales.  This increase in sales is largely attributable to
Chrysler's ability to leverage Fiat's international distribution
networks, particularly in those markets.

"We were honored to have the President come to Jefferson North
today," said Marchionne. "It was because of the courageousness of
his decision that Chrysler has been able to survive, and in fact
thrive, a little more than a year after bankruptcy."

                      The President's Visit to JNAP

Upon arrival at the nearly 3-million-square-foot assembly plant,
one of the last in an urban setting and the site of Grand Cherokee
production since its introduction in 1992, the President was
greeted by Marchionne and JNAP Plant Manager Pat Walsh, who took
him and other invited guests on a tour of the facility's all-new
flexible body shop that is delivering the most precise body
dimensions ever built.  The President stopped to talk with
employees on the panel line, a station on the assembly line where
the doors are married with the vehicle body before it goes to the
paint shop.

In preparation for production of the all-new Grand Cherokee, JNAP
went through a complete transformation as part of World Class
Manufacturing (WCM), an extensive and thorough process to restore
all Chrysler Group facilities to their original and maximum
functionality.

JNAP employees have gone through nearly 45,000 hours of training,
and have planned and executed hundreds of projects aimed at
improving the work environment, maximizing quality, minimizing
waste and preparing for the new product.  Employees have also
submitted over 2,500 suggestions on how to further improve the
processes to ensure the highest quality Grand Cherokee rolls off
the line.  These changes, throughout paint and assembly
operations, have given the facility an all-new level of
manufacturing flexibility for multiple product capability.

In total, Chrysler Group invested $686 million on the Grand
Cherokee program, which included investments at the plant.  Nearly
four million Grand Cherokees have rolled off the line since 1992.

                     About Chrysler Group LLC

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

                       About Chrysler LLC

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

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

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


CLAIRE'S STORES: Bank Debt Trades at 16% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Claire's Stores,
Inc., is a borrower traded in the secondary market at 83.97 cents-
on-the-dollar during the week ended Friday, July 30, 2010, an
increase of 0.94 percentage points from the previous week,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 275 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
May 29, 2014, and carries Moody's Caa2 rating and Standard &
Poor's B- rating.  The loan is one of the biggest gainers and
losers among 193 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

Claire's Stores, Inc., reported a net loss of $12,300,000 for the
three months ended May 1, 2010, from a net loss of $29,023,000 for
the three months ended May 2, 2009.  Net sales were $322,077,000
for the three months ended May 1, 2010, from $293,098,000 for the
three months ended May 2, 2009.

At May 1, 2010, the Company had total assets of $2,828,167,000
against total current liabilities of $189,612,000; long-term debt
of $2,297,603,000; revolving credit facility of $194,000,000;
obligations under capital leases of $17,290,000; deferred tax
liability of $121,156,000; deferred rent expense of $22,680,000;
unfavorable lease obligations and other long-term liabilities of
$34,070,000; resulting in stockholder's deficit of $48,244,000.

At Jan. 30, 2010, the Company had total assets of $2,834,105,000
against total current liabilities of $181,512,000, long-term debt
of $2,313,378,000, revolving credit facility of $194,000,000,
deferred tax liability of $122,145,000, deferred rent expense of
$22,082,000 and unfavorable lease obligations and other long-term
liabilities of $35,630,000; resulting in stockholders' deficit of
$34,642,000.

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of Jan. 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores, Inc., also operates through its
subsidiary, Claire's Nippon, Co., Ltd., 213 stores in Japan as a
50:50 joint venture with AEON, Co., Ltd.  The Company also
franchises 198 stores in the Middle East, Turkey, Russia, South
Africa, Poland and Guatemala.


CLEAR CHANNEL: Bank Debt Trades at 20% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Clear Channel
Communications, Inc., is a borrower traded in the secondary market
at 79.50 cents-on-the-dollar during the week ended Friday,
July 30, 2010, an increase of 2.38 percentage points from the
previous week, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  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 193 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

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


COASTAL COMMUNITY: Closed; Centennial Bank Assumes All Deposits
---------------------------------------------------------------
Bayside Savings Bank of Port Saint Joe, Fla., and Coastal
Community Bank, Panama City Beach, Fla., were closed on Friday,
July 30, 2010, by federal and state banking agencies, which then
appointed the Federal Deposit Insurance Corporation as receiver
for both institutions.  To protect depositors, the FDIC entered
into purchase and assumption agreements with Centennial Bank of
Conway, Ark., to assume all the deposits and essentially all the
assets of the two failed institutions.  Bayside Savings Bank was
closed by the Office of Thrift Supervision, and Coastal Community
Bank was closed by the Florida Office of Financial Regulation.
Collectively, the two failed institutions operated 13 branches,
which will reopen as branches of Centennial Bank during normal
business hours, including those offices with Saturday hours.
Bayside Savings Bank has two branches, and Coastal Community Bank
has eleven branches.

Depositors of Bayside Savings Bank and Coastal Community Bank will
automatically become depositors of Centennial Bank.  Deposits will
continue to be insured by the FDIC, so there is no need for
customers to change their banking relationship to retain their
deposit insurance coverage.  Customers of the two failed
institutions should continue to use their former branches.  Over
the weekend, depositors can access their money by writing checks
or using ATM or debit cards.

As of March 31, 2010, Bayside Savings Bank had total assets of
$66.1 million and total deposits of $52.4 million.  Coastal
Community Bank had total assets of $372.9 million and total
deposits of $363.2 million.  Centennial Bank did not pay the FDIC
a premium for the deposits of the failed banks.  In addition to
assuming all the deposits from the two Florida institutions,
Centennial Bank will purchase virtually all their assets.

The FDIC and Centennial Bank entered into loss-share transactions
on $48.3 million of Bayside Savings Bank's assets and
$302.8 million of Coastal Community Bank's assets. Centennial Bank
will share in the losses on the asset pools covered under the
loss-share agreement.  The loss-share transaction is projected to
maximize returns on the assets covered by keeping them in the
private sector.  The transaction also is expected to minimize
disruptions for loan customers. For more information on loss
share, visit:

  http://www.fdic.gov/bank/individual/failed/lossshare/index.html
Customers who have questions about the transactions can call the
FDIC toll free: for Bayside Savings Bank customers, 1-800-405-
6318; and for Coastal Community Bank customers, 1-800-523-0640.
Interested parties can also visit the FDIC's Web sites:

for Bayside Savings Bank:

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

and for Coastal Community Bank:

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $16.2 million for Bayside Savings Bank and $94.5 million
for Coastal Community Bank.  Compared to other alternatives,
Centennial Bank's acquisition was the least costly resolution for
the FDIC's DIF.  These two closings bring total closures for the
year to 106 banks in the nation, and the 19th and 20th in Florida.
Prior to these failures, the last bank closed in Florida was
Sterling Bank, Lantana, on July 23, 2010.


COLONY LODGING: Case Summary & 25 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Colony Lodging, Inc.
        1101 S.W. Parkway
        College Station, TX 77840

Bankruptcy Case No.: 10-60909

Chapter 11 Petition Date: July 27, 2010

Court: United States Bankruptcy Court
       Western District of Texas (Waco)

Judge: Ronald B. King

Debtor's Counsel: Ronald E. Pearson, Esq.
                  2109 Bird Creek Terrace
                  Temple, TX 76502-1083
                  Tel: (254) 778-0699
                  E-mail: Ron@Pearson-lawfirm.com

Scheduled Assets: $9,581,174

Scheduled Debts: $6,363,908

A list of the Company's 25 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txwb10-60909.pdf

The petition was signed by Brandon Wolsic, vice president of
Rossco Holdings, Inc.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                   Petition
   Debtor                              Case No.       Date
   ------                              --------       ----
LJR Properties, Ltd.                   10-_____    07/27/10
Rossco Holdings, Inc.                  10-_____    07/27/10
Monte Nido Estates, Ltd.               10-_____    07/27/10
Rossco Plaza, Inc.                     10-_____    07/27/10
WM Properties, Ltd.                    10-_____    07/27/10


COMMUNICATION INTELLIGENCE: Annual Stockholders Meeting on Aug. 4
-----------------------------------------------------------------
The Annual Meeting of Stockholders of Communication Intelligence
Corporation will be held at the Hotel Sofitel, 223 Twin Dolphin
Drive, Redwood Shores, California 94065, on August 4, 2010, at
1:00 p.m. Pacific Time, for these purposes:

    1. To elect four directors;

    2. To consider and vote upon a proposal to amend the Company's
       Certificate of Incorporation to increase the number of
       shares of authorized capital stock;

     3. To consider and vote upon a proposal to amend the
        Certificate of Designation with respect to the Company's
        outstanding Series A-1 Preferred Stock;

     4. To ratify the appointment of GHP Horwath, P.C. as the
        Company's independent auditors for the year ending
        December 31, 2010; and

     5. To transact such other business as may properly come
        before the Annual Meeting.

The Board of Directors has fixed the close of business on June 28,
2010 as the record date. Only stockholders of record at the close
of business on the record date will be entitled to notice of and
to vote at the Annual Meeting or any postponements or adjournments
thereof.

                       Recapitalization Deal

As reported by the Troubled Company Reporter on July 1, 2010,
Communication Intelligence entered into definitive agreements with
Phoenix Venture Fund LLC, as lead investor, and others to provide
additional working capital to the Company while also eliminating
all existing indebtedness for borrowed money.  Holders of CIC's
senior secured indebtedness have agreed to exchange notes, which
are expected to total $6.4 million, into shares of Series B
Participating Convertible Preferred Stock and CIC will issue up to
$2 million of Series B Preferred.  The Recapitalization and
Offering are expected to close promptly after the Company's
shareholder meeting scheduled for August 4, 2010.

                        Bankruptcy Warning

In its proxy statement, the Company warned it may be forced to
file for bankruptcy if the increase in the number of authorized
shares of capital stock is not approved.

According to the Company, "Approval by the stockholders of the
increase in the number of authorized shares of capital stock is a
condition to the closing of both the Recapitalization and the
Offering.  Accordingly, if stockholders do not approve Proposal 2,
Phoenix, the Lenders and the Investors will be able to terminate
the Series B Purchase Agreement and the Exchange Agreement.  In
that event, the Company's senior secured debt which is estimated
to be in the aggregate principal amount of approximately
$6.3 million at the time of the Annual Meeting, will remain
outstanding and mature on December 31, 2010, at which time the
principal and accrued interest becomes due and payable.  If
Proposal 2 is not approved, in order to repay the senior
indebtedness at December 31, 2010, the Company must either raise
additional capital to repay such indebtedness in full or reach a
mutually acceptable agreement with the Lenders regarding an
extension or modification of the terms of the existing
indebtedness."

The Company noted that since April 2009, it has explored numerous
options to raise capital and has been unsuccessful prior to
entering into the Recapitalization and Offering.  "If Proposal 2
is not approved and the Company cannot pay its indebtedness in
full on December 31, 2010 or reach a mutually acceptable agreement
with the Lenders, the Lenders will have the right to declare all
of the indebtedness due and to exercise all of their rights under
the Credit Agreement, including enforcing their security interest
in all of the Company's assets.  Such an action could force the
Company to seek the protection of the bankruptcy laws," the
Company said.

A full-text copy of the proxy statement is available at no charge
at http://ResearchArchives.com/t/s?6772

                 About Communication Intelligence

Headquartered in Redwood Shores, California, Communication
Intelligence Corporation and its joint venture is a supplier of
electronic signature solutions for business process automation in
the financial industry as well as the recognized leader in
biometric signature verification.

                           *     *     *

The Company's auditors -- GHP Horwath, P.C. in Denver, Colorado --
have expressed substantial doubt about its ability to continue as
a going concern.

The Company's balance sheet at March 31, 2010, showed $5.0 million
in total assets and $5.9 million in total liabilities, for a
$909,000 total stockholders' deficit.


COMMUNITY HEALTH: Bank Debt Trades at 5% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which Community Health
Systems, Inc., is a borrower traded in the secondary market at
94.84 cents-on-the-dollar during the week ended Friday, July 30,
2010, an increase of 0.90 percentage points from the previous
week, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  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 193 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

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


COMPTON PETROLEUM: NYSE to Remove Entire Class of Common Stock
--------------------------------------------------------------
New York Stock Exchange LLC notified the Securities and Exchange
Commission of its intention to remove the entire class of Common
Stock of Compton Petroleum Corporation from listing and
registration on the Exchange at the opening of business on
July 16, 2010, pursuant to the provisions of Rule 12d2-2 (b),
because, in the opinion of the Exchange, the Common Stock is no
longer suitable for continued listing and trading on the Exchange.

NYSE based its determination on the fact that the Common Stock had
fallen below the Exchange's continued listing standard for average
closing price of less than US$1.00 over a consecutive 30 trading-
day period and the Company did not cure this non-compliance within
the required timeframe.

   -- The Exchange's Listed Company Manual, Section 802.01C,
      states, in part, that the Exchange would consider delisting
      a security of either a domestic or non-U.S. issuer when
      the average closing price of a security is less than US$1.00
      over a consecutive 30 trading-day period.

   -- The Exchange, on June 18, 2010, determined that the Common
      Stock should be suspended prior to the market open on
      June 25, 2010, and directed the preparation and filing with
      the Commission of this application for the removal of the
      Common Stock from listing and registration on the Exchange.
      The Company was notified by letter on June 21, 2010.

   -- Pursuant to the above authorization, a press release was
      immediately issued by the Exchange on June 18, 2010 and an
      announcement was made on the 'ticker' of the Exchange at the
      close of the trading session on June 18, 2010 and other
      various dates of the proposed suspension of trading in the
      Common Stock.  Similar information was included on the
      Exchange's website.  Trading in the Common Stock was
      suspended before the opening of the trading session on
      June 25, 2010.

   -- The Company had a right to appeal to the Committee for
      Review of the Board of Directors of NYSE Regulation, Inc.
      the determination of the Exchange to delist its Common
      Stock, provided that it filed a written request for
      such a review with the Secretary of the Exchange within ten
      business days of receiving notice of the delisting
      determination.  On June 21, 2010 the Company stated in its
      press release that the Board has concluded it is in
      the best interest of the Company and its shareholders to
      delist from the Exchange.

Compton Petroleum Corporation is an exploration and production
company.  The Company explores for, develops, and produces oil and
gas in western Canada.  Compton's interests include the areas of
Shekille, Senex, Deep Basin, Rimbey, and Vulcan/Gladys, all in
Alberta, Canada.


CONSTELLATION ENERGY: Fitch Affirms 'BB' Rating on Junior Notes
---------------------------------------------------------------
Fitch Ratings has affirmed the ratings of Constellation Energy
Group, including the Issuer Default Rating at 'BBB-', and CEG's
utility subsidiary Baltimore Gas and Electric (IDR 'BBB').  The
Rating Outlook for both entities is Stable.  The actions, which
result from a routine credit review, affect approximately
$4.5 billion of obligations.  The full list of ratings is below.

The ratings affirmation for CEG and Stable Rating Outlook reflect
CEG's favorable business and financial performance after the
transfer of a 49.99% interest in Constellation Energy Nuclear
Generating LLC to Electricite de France (IDR 'A+' with a Stable
Outlook) for $4.7 billion in November 2009.  Since then, first
half of 2010 cash flow and profitability have been consistent with
or superior to the assumptions in Fitch's projections prior to the
transaction, and business risk has been reduced.  The rating and
Stable Outlook also consider CEG's available liquidity, low level
of debt maturities, and prospects for improving the cash flow of
subsidiary BGE.

CEG reduced commodity price sensitivity and liquidity risk in 2009
by selling several large but non-essential parts of its energy
marketing and trading activities and continued in 2010 to wind
down residual exposures.  CEG has continued to reduce collateral
needs and the contingent liquidity exposure related to its
wholesale energy activities.  Also, the company reduced debt with
transaction proceeds.  Credit measures such as Debt-to-EBITDA,
Debt-to-FFO, and FFO-to-Interest are now robust relative to
Fitch's benchmarks for IDR of 'BBB-' to 'BBB'.  Finally, the
company's current business, financial strategy, and control
systems are consistent with the current ratings.

Despite CEG's sale of half of the nuclear portfolio and resulting
reduction in cash flow from power generation, the effect on credit
ratios in 2010 and 2011 is offset by: materially lower debt;
profits from a discount built into the power purchase agreement
between CENG and CEG for two years; and favorable margins in the
energy retail and wholesale customer supply business.  Fitch
expects that the aggregate cash flow from the competitive
businesses will likely weaken in 2012 as current power sales
contracts and hedges are replaced with new contracts at lower
prevailing market prices, combined with the expiration of the
discount on sales of energy from CENG to CEG.  However, Fitch
expects that BGE's contribution will improve over the next several
years, assuming a balanced outcome of pending and future rate
cases in Maryland.  Overall, CEG credit ratios are expected to
remain at least consistent with the 'BBB-' IDR for the next
several years.  Fitch's projections do not assume material
investments by CEG over the next several years in new nuclear
plant development.

CEG's power generation portfolio including a net ownership of
1,920 MW of nuclear capacity is well positioned relative to
competitors with a higher dependence on coal-fired generation.
Continued expansion of environmental regulations that target coal-
fired power sources is likely to enhance the value of CEG's fleet.
CEG has high contractual cover of its expected generation output
for 2009 through 2011, but is increasingly exposed to market
prices thereafter.  CEG's profitable competitive customer supply
business focused on commercial and industrial customers and small
utilities acts as an internal downstream hedge that should
moderate the volatility of the power generation business.

Positive rating actions could result from success in hedging
future years' power output at prices that maintain credit ratios,
while negative rating actions could occur in the event of further
deterioration in prices of energy and capacity in CEG's key power
markets; inability to manage risks of the competitive customer
supply business and commodity hedging activities; or major merger
and acquisition activity or leveraging transactions that are
outside the scope of the company's current business plan.

Baltimore Gas and Electric:

The affirmation of BGE's rating with a Stable Rating Outlook is
driven by the utility's lower debt leverage relative to comparable
utilities, a situation that helps to offset the low earnings that
have resulted from a history of rate freezes and rate caps
affecting BGE's electric utility business.  BGE serves a region
with good demographic characteristics, and planned investments in
electric distribution and transmission projects are potential
growth opportunities.  However, the Maryland regulatory
environment has at times been challenging and politicized.

Despite the current constraints on electric base rate increases,
BGE is no longer constrained in its ability to receive timely
recovery of power and capacity supply costs, and can recover
investments in demand response and energy conservation through
trackers.  Cash flow volatility is reduced by volume decoupling
mechanisms for both gas and electricity sales.

Fitch's financial projections for BGE assume ongoing capital
investment and rate base growth for distribution and transmission
projects and gradual improvement in BGE's earned return on equity
over the next three to four years, assuming balanced outcomes in a
succession of base rate increases and elimination of constraints
on tariff actions.  BGE filed a $46.9 million electric and a
$42 million gas rate case in June 2010, and a decision is expected
by year end.  Fitch projects that the utility will fund its capex
with a mix of debt and equity, and that BGE's credit ratios will
continue to match or be superior to Fitch's benchmarks for the
'BBB' IDR.  The rating could improve in the future, depending on
the results of the pending 2010 rate case and future cases, while
adverse rating actions could result from an unfavorable decision
on the pending base rate case or inability to recover energy costs
or capital investments in a timely manner.

BGE has access to a separate $600 million credit facility and has
no debt or credit that is subject to cross default in the event of
a CEG default.  As a result of additional ring-fencing provisions
implemented in the past year, BGE no longer combines its short-
term cash in a CEG cash pool.

Fitch has affirmed these ratings:

Constellation Energy Group, Inc.

  -- Long-term IDR at 'BBB-';
  -- Senior unsecured notes at 'BBB-';
  -- Short-term IDR and commercial paper at 'F3';
  -- Junior subordinated notes at 'BB'.

Baltimore Gas and Electric Company

  -- Long-term IDR at 'BBB';

  -- Senior unsecured notes and pollution control revenue bonds at
     'BBB+';

  -- Secured debt at 'A-' (none currently outstanding);

  -- Short-term IDR and commercial paper at 'F2';

  -- Preferred stock at 'BBB-'.

BGE Capital Trust II

  -- Preferred stock at 'BBB-'.

The Rating Outlook is Stable for CEG and BGE.


CONTECH CONSTRUCTION: Debt Trades at 17% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which CONTECH
Construction Products, Inc., is a borrower traded in the secondary
market at 82.55 cents-on-the-dollar during the week ended Friday,
July 30, 2010, an increase of 0.88 percentage points from the
previous week, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  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 193 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.


COOPER-STANDARD: Registers Securities for Resale
------------------------------------------------
Cooper-Standard Holdings Inc. is delaying the effective date of a
registration statement filed with the Securities and Exchange
Commission for certain securities.

Cooper-Standard emerged from Chapter 11 reorganization on May 27,
2010.  As part of its plan of reorganization, Cooper-Standard
issued securities in a private placement to certain creditors to
raise a portion of the funds necessary for its emergence from
bankruptcy.  Pursuant to its plan of reorganization, certain
creditors that received the securities and their transferees are
entitled to have the securities registered for resale.

Cooper-Standard filed a prospectus dated July 26 relating to these
securities that may be sold from time to time by selling security
holders:

     -- 11,181,673 shares of Cooper-Standard common stock, par
        value $0.001 per share, which consists of 8,623,491 shares
        issued to certain creditors pursuant to a rights offering
        and 2,558,182 shares issued to certain creditors pursuant
        to a commitment agreement that provided for the backstop
        of the rights offering;

     -- 1,010,345 shares of Cooper-Standard 7% cumulative
        participating convertible preferred stock, par value
        $0.001 per share, issued to certain creditors pursuant to
        the commitment agreement that provided for the backstop of
        the rights offering (including 10,345 shares of 7%
        preferred stock issued as a dividend payment on Cooper-
        Standard outstanding shares of 7% preferred stock);

     -- 4,335,176 shares of Cooper-Standard common stock issuable
        to holders of Cooper-Standard 7% preferred stock upon
        conversion of their 7% preferred stock;

     -- warrants to purchase 1,693,827 shares of Cooper-Standard
        common stock issued to certain creditors pursuant to the
        commitment agreement that provided for the backstop of the
        rights offering; and

     -- 1,693,827 shares of Cooper-Standard common stock issuable
        to holders of Cooper-Standard warrants upon exercise of
        their warrants.

All of the securities are being sold by the selling security
holders.  Cooper-Standard will not receive any proceeds from the
sales of any of these securities other than proceeds from the
exercise of warrants to purchase shares of common stock, which
will be used for general corporate purposes.  It is anticipated
that the selling security holders will sell these securities from
time to time in one or more transactions, in negotiated
transactions or otherwise, at prevailing market prices or at
prices otherwise negotiated.

Cooper-Standard common stock and warrants are currently traded on
the Over-the-Counter Bulletin Board, commonly known as the OTC
Bulletin Board, under the symbols "COSH" and "COSHW,"
respectively.

A full-text copy of the prospectus, which lists the selling
shareholders, is available at no charge at:

                http://ResearchArchives.com/t/s?6773

                       About Cooper-Standard

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

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

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

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

This concludes the Troubled Company Reporter's coverage of Cooper-
Standard until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


COWLITZ BANK: Closed; Heritage Bank Assumes All Deposits
--------------------------------------------------------
The Cowlitz Bank of Longview, Wash., was closed on Friday,
July 30, 2010, by the Washington Department of Financial
Institutions, which appointed the Federal Deposit Insurance
Corporation as receiver.  To protect the depositors, the FDIC
entered into a purchase and assumption agreement with Heritage
Bank of Olympia, Wash., to assume all of the deposits of The
Cowlitz Bank.

The nine branches of The Cowlitz Bank, including the two branches
operating in Oregon, and three branches operating in Washington
under the name Bay Bank, a division of The Cowlitz Bank, will
reopen during normal banking hours as branches of Heritage Bank.
Depositors of The Cowlitz Bank will automatically become
depositors of Heritage 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 The Cowlitz Bank should continue to use
their existing branch until they receive notice from Heritage Bank
that it has completed systems changes to allow other Heritage Bank
branches to process their accounts as well.

As of March 31, 2010, The Cowlitz Bank had around $529.3 million
in total assets and $513.9 million in total deposits.  Heritage
Bank paid the FDIC a premium of 1.0 percent for the deposits of
The Cowlitz Bank.  In addition to assuming all of the deposits of
the failed bank, Heritage Bank agreed to purchase around
$280.0 million of the failed bank's assets.  The FDIC will retain
the remaining assets for later disposition.

The FDIC and Heritage Bank entered into a loss-share transaction
on $160.9 million of The Cowlitz Bank's assets.  Heritage 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 1-800-528-6215.  Interested parties also can
visit the FDIC's Web site at:

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $68.9 million.  Compared to other alternatives, Heritage
Bank's acquisition was the least costly resolution for the FDIC's
DIF.  The Cowlitz Bank is the 107th FDIC-insured institution to
fail in the nation this year, and the eighth in Washington.  The
last FDIC-insured institution closed in the state was Washington
First International Bank, Seattle, on June 11, 2010.


CUSTOM CABLE: Files for Chapter 11; ComVest Mulling on Offer
------------------------------------------------------------
Custom Cable Industries, Inc has filed a voluntary petition under
Chapter 11 of the U.S. Bankruptcy Code to reorganize and implement
a balance sheet restructuring.  The filing was made in the U.S.
Bankruptcy Court for the Middle District of Florida, Tampa
Division.

All day to day operations and business of Custom Cable will
continue as usual.  The Company has the requisite funding in hand
to operate in Chapter 11.

"Custom Cable is a good company with a poor balance sheet but
improving business operations," says Gregg Stewart, general
manager and chief restructuring officer.  "This action is being
taken to restructure the company's balance sheet and allow for a
fresh capital infusion.  Management believes a new owner and the
resultant capital infusion would allow the company to continue its
trend of positive operating results, allowing it to resume
sustainable and profitable growth.  We appreciate the support we
have received to date from our long time customers and suppliers,
and look forward to continuing these valued relationships."

Despite upward trends in operations during 2010, Custom Cable has
faced issues with its significant debt level and continued
litigation claims from former executives and its senior lender.
The decision to pursue Chapter 11 reorganization was made by a
special committee of the company's board of directors, whose
members determined that the best course of action was to seek an
asset sale of the company through Section 363 of the U.S.
Bankruptcy Code.

Custom Cable has retained Berenfeld Capital Markets, LLC to
solicit prospective purchasers.  An affiliate of ComVest Capital
LLC, Custom Cable's senior lender and majority shareholder, has
expressed its willingness to purchase Custom Cable.

                   About Custom Cable Industries

Founded in 1980, Custom Cable Industries, Inc. --
http://www.customcable.com-- is a leading connectivity company
with national presence and global distribution.  A longtime
partner with Fortune 500 companies, Custom Cable offers an
impressive line of central office, custom, standards-based and
network cables and has best in class certification in
manufacturing and installation connectivity services including
structured cabling, network, voice and data solutions.


DELPHI CORP: Congress Subcommittee Seeks Pension Input
------------------------------------------------------
About 300 salaried retirees of Delphi Corp. attended the field
hearing regarding Delphi's pension issues convened by the U.S.
Subcommittee on Oversight and Investigations at Canfield, Ohio,
on July 13, 2010, Maraline Kubik of the Business Journal Daily.

Business Journal notes that the hearing was the third
congressional hearing in nine months.  The hearing was chaired by
U.S. Representative Dennis Moore of Kansas, U.S. Representatives
Charlie Wilson and Timothy Ryan.

"For General Motors Corporation to survive, Delphi also needed to
survive," Bruce Gump, director of the Delphi Salaried Retirees
Association, testified before the Subcommittee, Business Journal
relates.  According to Mr. Gump, in order to save GM, the U.S.
Department of the Treasury's Auto Task Force orchestrated a plan
for Delphi's speedy emergence.  That plan, said Mr. Gump, called
for Delphi to reduce legacy costs, which meant eliminating at
least some of its obligations to its retirees, according to the
report.

Salaried retirees and those represented by unions that do not
wield as much political power as the United Auto Workers were
sacrificed while the pensions of hourly workers represented by
the UAW were preserved, Mr. Gump alleged, the news source cites.

Another witness, DSRA Vice Chairman Jim Frost called the action
to transfer Salaried Retirees' pension to the Pension Benefit
Guaranty Corporation a "blatant disregard for the law" and a
"clever work-around," the report relates.

Norman Wernet, state director of the Ohio Alliance for Retired
Americans, also testified before the Subcommittee, relating that
about 60,000 Ohioans received retirement income from the PBGC in
2008, with an average annual benefit of $6,156, Business Journal
says.  Combined with the average Social Security benefit, that
puts most of the retirees "on the edge of poverty," Mr. Wernet
stressed, the report relates.

Other witnesses called to testify include Lee Fisher, Ohio's
lieutenant governor; Milan Drajojevic Jr., a Delphi hourly
retiree; Mary Ann Hudzik, a Delphi salaried retiree; and Dr.
Frank Akpadock, senior research associate at Youngstown State
University, Business Journal adds.

PoliticalNews.me adds that at the July 13 hearing, U.S.
Representative Chris Lee called for a closer scrutiny into the
U.S. Treasury Department's unfair and unjustified decision to cut
the Delphi pensions.  "It is long overdue for the Treasury
Department to come clean and disclose the information that led to
the unjust decision to cut the pensions of Delphi workers and
retirees," Mr. Lee insisted, the report says.

               Subcommittee Seeks Pension Input
                    From Salaried Retirees

At the July 13 hearing, the Subcommittee also asked input from
Delphi retirees and members of the community regarding the effect
the loss of the pensions and benefits had on individuals,
Business Journal relates.  The Subcommittee previously stated
that the record would remain open for 30 days so interested
parties not invited to speak during the hearing could submit
written testimony.  As of July 19, 2010, the office of
Representative Wilson has received more than 500 written
testimonies.

Against this backdrop, the Subcommittee reset the deadline for
the submission of documents to July 20, Business Journal
discloses.  The deadline was changed to allow workers in Mr.
Wilson's office adequate time to organize and submit the
testimonies, according to Business Journal.

In related news, Daniel Human of Kokomo Tribune reports that DSRA
is unhappy with the lack of support from U.S. Representative Joe
Donnelly regarding the group's fight to restore its members'
pensions to full.

According to the Kokomo Tribune article, David Sedam of the DSRA
sent an e-mail, which key target is Mr. Donnelley, stating the
lack of support from Indiana Congressional representatives.
Members of the DSRA also made a video recounting their pension
cuts, which video was attached to the e-mail, the news source
noted.

In response, the press office of Mr. Donnelly cited a letter the
Congressman sent to Delphi Chief Executive Officer Rodney O'Neal
in February 2009 asking him to reconsider the pension cuts, the
Kokomo Tribune cited.   The press office also stated that Mr.
Donnelly met with Delphi retirees to discuss the issue.  Mr.
Donnelly publicly supported an amendment in the Financial
Services Committee requiring the Presidential Task Force on the
auto industry to provide all information regarding their actions
with Delphi's salaried employees' pensions, the press office
added, according to the report.

                       *     *      *

In a public statement dated July 15, 2010, the Department of
Labor related that it issued on October 1, 2007, a certification
regarding eligibility to apply for worker adjustment assistance
and alternative trade adjustment assistance, applicable to
workers of Delphi Corp., Automotive Holding Group, Plant 6,
including on-site leased workers from Securitas, EDS, Bartech and
Mays Chemicals, in Flint, Michigan.

At the request of a state agency, the Labor Department amended
the Certification on July 1, 2010, to include workers leased from
Interim Physicians, LLC and HSS Material Management working on-
site at Plant Nos. 6 and 2 of Delphi.  The Labor Department
determined that workers at Plant Nos. 6 and 2 were sufficiently
under the control of Delphi to be considered as leased workers.

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: DPHIQ)
-- http://www.delphi.com/-- was a global supplier of mobile
electronics and transportation systems, including powertrain,
safety, steering, thermal, and controls & security systems,
electrical/electronic architecture, and in-car entertainment
technologies.  Delphi had approximately 146,600 employees and
operates 150 wholly owned manufacturing sites in 34 countries with
sales of $18.1 billion in 2008.

The Company filed for Chapter 11 protection on October 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represented the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represented the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on January 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On October 6, 2009, Delphi Corp.'s Chapter 11 plan of
reorganization became effective.  A Master Disposition Agreement
executed among Delphi Corporation, Motors Liquidation Company,
General Motors Company, GM Components Holdings LLC, and DIP Holdco
3, LLC, divides Delphi's business among three separate parties --
DPH Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings will
remain responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

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


DELPHI CORP: DPH Holdings Files 2nd Quarter Report
--------------------------------------------------
DPH Holdings Corp. and its affiliates submitted to the U.S.
Bankruptcy Court for the Southern District of New York on
July 27, 2010, a consolidated operating report for the quarter
ended June 30, 2010.

DPH Holdings President John C. Brooks related that the
Reorganized Debtors incurred an operating loss of $15 million for
the second quarter 2010.

                     DPH Holdings Corp., et al.
                     Schedule of Disbursements
                  Three Months Ended June 30, 2010

DPH Holdings Corp.                           $25,986,000
DPH NY Holding LLC                                     0
ASEC Manufacturing General Partnership                 0
ASEC Sales General Partnership                         0
Environmental Catalysts, LLC                           0
DPH Medical Systems Colorado LLC                       0
DPH Medical Systems Texas LLC                          0
DPH Medical Systems LLC                                0
Specialty Electronics, LLC                             0
DPH Liquidation Holding LLC                            0
DPH Electronics (Holding) LLC                          0
DPH-DAS Tennessee, LLC                                 0
DPH Mechatronic Systems, LLC                       1,000
DPH-DAS Risk Management LLC                            0
Exhaust Systems LLC                                    0
DPH-DAS Korea, LLC                                     0
DPH International Services, LLC                        0
DPH-DAS Thailand, LLC                                  0
DPH-DAS International, LLC                             0
DPH International Holdings LLC                         0
DPH-DAS Overseas LLC                                   0
DPH-DAS (Holding), LLC                                 0
Delco Electronics Overseas LLC                 2,013,000
DPH Diesel Systems LLC                                 0
DPH LLC                                                0
Aspire, LLC                                            0
DPH Integrated Service Solutions, LLC                  0
DPH Connection Systems LLC                             0
Packard Hughes Interconnect Company LLC                0
DREAL, LLC                                             0
DPH-DAS Services LLC                             356,000
DPH Services Holding LLC                               0
DPH-DAS Global (Holding), LLC                          0
DPH-DAS Human Resources LLC                            0
DPH-DAS LLC                                            0
DPH Furukawa Wiring Systems LLC                        0
DPH Receivables LLC                                    0
MobileAria, LLC                                        0

In connection with the consummation of Delphi Corp.'s Confirmed
Modified First Amended Joint Plan of Reorganization, DIP Holdco
LLP, now known as Delphi Automotive LLP, as assignee of DIP
Holdco 3 LLC, through various subsidiaries and affiliates,
acquired on October 6, 2009, substantially all of the global core
business of Delphi Corp., now known as DPH Holdings Corp. and its
debtor affiliates, including the stock of Delphi Technologies,
Inc. and the membership interests in Delphi China LLC.  Thus,
neither Delphi Technologies, Inc., nor Delphi China LLC is
included in the current quarterly operating report.

Thus, Debtors Delphi Technologies, Inc., and Delphi China
LLC filed with the Court a separate operating report for the
quarter ended June 30, 2010.

                 Delphi Technologies, Inc., et al.
                     Schedule of Disbursements
                Three Months Ended June 30, 2010

Delphi Technologies, Inc.                      $14,932,660
Delphi China LLC                                         0

Delphi Corp. Treasurer and Acting Chief Financial Officer Keith
D. Stipp related that operating expenses plus any applicable cure
payments for the quarter ended June 30, 2010, was used as a
proxy for disbursements for Delphi Technologies, Inc., and Delphi
China, LLC.  Mr. Stipp also disclosed that Delphi Technologies
and Delphi China has an operating income of $33 million for the
second quarter 2010.

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: DPHIQ)
-- http://www.delphi.com/-- was a global supplier of mobile
electronics and transportation systems, including powertrain,
safety, steering, thermal, and controls & security systems,
electrical/electronic architecture, and in-car entertainment
technologies.  Delphi had approximately 146,600 employees and
operates 150 wholly owned manufacturing sites in 34 countries with
sales of $18.1 billion in 2008.

The Company filed for Chapter 11 protection on October 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represented the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represented the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on January 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On October 6, 2009, Delphi Corp.'s Chapter 11 plan of
reorganization became effective.  A Master Disposition Agreement
executed among Delphi Corporation, Motors Liquidation Company,
General Motors Company, GM Components Holdings LLC, and DIP Holdco
3, LLC, divides Delphi's business among three separate parties --
DPH Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings will
remain responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

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


DELPHI CORP: VEBA Committee Asks for Final Report
-------------------------------------------------
The VEBA Committee for the Delphi Salaried Retirees Association
Benefit Trust urges Bankruptcy Judge Robert D. Drain for the
Southern District of New York to:

  (i) compel the Official Committee of Eligible Salaried
      Retirees to file its final report as required under the
      Salaried OPEB Settlement Order dated April 3, 2009; and

(ii) direct the U.S. Trustee for Region 2 to dissolve the
      Retirees Committee once the Final Report is filed.

As previously reported, the Court approved a settlement resolving
the Retiree Committee's appeal from the 'Other Post-Employment
Benefits' Termination Orders.  Under the Salaried OPEB Settlement
Order, the Retirees Committee will establish a Voluntary
Employees' Beneficiary Association or VEBA, which would extend
Health Coverage Tax Credit to benefits it would provide to the
intended beneficiaries.

The Retirees Committee established a VEBA formally known as the
Delphi Salaried Retirees Association Benefit Trust in April 2009
and appointed the VEBA Committee to administer the DSRA VEBA.

The Salaried OPEB Settlement Order also directed the Retirees
Committee to file a Final Report detailing how the Settlement
proceeds were spent and whether those funds had been allocated
fairly and equitably to, or on behalf of, salaried retirees upon
completion of the Reorganized Debtors' payments under the
Settlement.  The Reorganized Debtors made the final payment to
the Retirees Committee in November 2009.

However, the Retirees Committee failed to file the Final Report
upon the completion of payments by the Reorganized Debtors,
Timothy T. Brock, Esq., at Satterlee Stephens Burke & Burke LLP,
in New York -- tbrock@ssbb.com -- tells the Court.  "The Retirees
Committee has continuously and unjustifiably delayed filing its
Final Report," the VEBA Committee alleges.

Mr. Brock discloses that more than two months after the
completion of payments by the Reorganized Debtors, the Retirees
Committee sought various documents and final reports from the
VEBA Committee to enable it to file the Final Report.  The VEBA
Committee relates that it has provided the Retirees Committee
with the requested documents.  The VEBA Committee believes that
the documents it has supplied to the Retirees Committee have
removed any perceived impediments for the preparation and filing
of a Final Report.

The VEBA Committee insists that the Retirees Committee long ago
fulfilled its tasks pursuant to the Salaried OPEB Settlement
Order.  One of the VEBA Committee's concerns, Mr. Brock
emphasizes, is that the administrative costs will mount -- to the
absolute cost of the DSRA VEBA beneficiaries, given the limited
trust corpus -- should the Retirees Committee continue to
perpetuate its own existence by failing to file the Final Report.

The Court will convene a hearing on the VEBA Committee's Motion
on August 12, 2010.  Objections are due August 5.

                        About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: DPHIQ)
-- http://www.delphi.com/-- was a global supplier of mobile
electronics and transportation systems, including powertrain,
safety, steering, thermal, and controls & security systems,
electrical/electronic architecture, and in-car entertainment
technologies.  Delphi had approximately 146,600 employees and
operates 150 wholly owned manufacturing sites in 34 countries with
sales of $18.1 billion in 2008.

The Company filed for Chapter 11 protection on October 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represented the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represented the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court confirmed Delphi's plan on January 25, 2008.  The Plan
was not consummated after a group led by Appaloosa Management,
L.P., backed out from their proposal to provide US$2,550,000,000
in equity financing to Delphi.  At the end of July 2009, Delphi
obtained confirmation of a revised plan, build upon a sale of the
assets to a entity formed by some of the lenders who provided
$4 billion of debtor-in-possession financing, and General Motors
Company.

On October 6, 2009, Delphi Corp.'s Chapter 11 plan of
reorganization became effective.  A Master Disposition Agreement
executed among Delphi Corporation, Motors Liquidation Company,
General Motors Company, GM Components Holdings LLC, and DIP Holdco
3, LLC, divides Delphi's business among three separate parties --
DPH Holdings LLC, GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings will
remain responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the
disposition of certain retained assets and payment of certain
retained liabilities as provided under the Modified Plan.

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


DENTAL PLUS: Delay and Cost Overruns Prompt Chapter 11 Filing
-------------------------------------------------------------
Dan Hieb, staff writer at Business Journal of Nashville, reports
that Dental Plus LLC filed for bankruptcy under Chapter 11 in the
U.S. Bankruptcy Court for the Middle District of Tennessee, citing
delays and cost overruns costing the company $180,000 caused by
contractor who built Distinctive Dentistry's new office at 1020
Antebellum Circle.

The Company, Mr. Hieb says, owes $1.6 million to CIT Small
Business Lending, and $423,000 to Matsco.

Dental Plus provides professional dental care.


DOLLAR THRIFTY: S&P Retains Ratings on CreditWatch Positive
-----------------------------------------------------------
Standard & Poor's Ratings Services said that its ratings on Tulsa,
Okla.-based auto renter Dollar Thrifty Automotive Group Inc.
(DTAG; B-/Watch Pos/--) remain on CreditWatch with positive
implications.  This follows competitor Avis Budget Group Inc.'s
(B+/Stable/--) July 28, 2010 bid to acquire DTAG.  S&P initially
placed the ratings on DTAG on CreditWatch with positive
implications on April 26, 2010, when the company announced that it
had signed a definitive agreement to be acquired by another
competitor, Hertz Global Holdings Inc. (B/Watch Pos/--).

"In the proposed acquisition bids, DTAG's corporate debt would be
retired, and either Avis Budget or Hertz, both rated higher than
DTAG, would assume its $1.6 billion of fleet debt," said Standard
& Poor's credit analyst Betsy R. Snyder.  The acquisition would
result in an increase in market share for either Avis Budget or
Hertz in the U.S. There currently are three major on-airport car
rental companies: Hertz, Avis (parent of the Avis and Budget
brands), and Enterprise Rent-A-Car Co. (parent of the Enterprise,
Alamo, and National brands), each with about a 30% market share.
DTAG accounts for most of the balance.

"S&P will evaluate the effect of the proposed acquisition by
either Avis Budget or Hertz on DTAG's business risk and financial
risk profiles to resolve the CreditWatch listing," she continued.


ESI TRACTEBEL: S&P Withdraws 'BB' Rating on $220 Mil. Bonds
-----------------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew its 'BB'
rating on ESI Tractebel Acquisition Corp's $220 million senior
secured bonds due December 2011.  ETAC services debt with
distributions from a 290-megawatt power cogeneration facility in
Bellingham, Mass., owned by Northeast Energy Associates, and a 275
MW cogeneration facility in Sayreville, N.J., owned by New Jersey
Energy Associates.

The issuer has informed us that the bonds were fully repaid on
July 28, 2010.


FERRO CORPORATION: Moody's Affirms 'B1' Corporate Family Rating
---------------------------------------------------------------
Moody's Investors Service affirmed the long term debt ratings
(Corporate Family Rating of B1) of Ferro Corporation.  The
affirmation reflects the proposed refinancing as announced in
Ferro's press release of July 27, 2010.  If the refinancing plans
proceed as suggested the senior unsecured notes would likely be
rated B2.  Moody's will monitor the refinancing plans and provide
more guidance as details are announced and the plan is executed.
The outlook is positive.

"We expect Ferro's performance in the next four quarters to
continue to improve over 2009, supporting the positive outlook and
fostering improved credit metrics and liquidity," said Bill Reed,
Moody's Vice President.

Ferro's B1 CFR incorporates the expectation that leverage will
remain close to 3.0x over the next twelve months, pro forma for
the announced refinancing, and that cash flow metrics will remain
weaker than its leverage metric would imply due to on-going
restructuring actions to improve profitability.  It also reflects
an improved recovery in demand in its major end markets --
electronics, coatings, ceramics and construction.  This B1 CFR
also reflects the improved operating performance in the fourth
quarter of 2009 and first half of 2010 along with the prospect of
continued improved results.

Moody's positive outlook anticipates an improved recovery in
financial performance in 2010 aided by higher demand in Asia and a
meaningful reduction in interest expense.  However, if Ferro's
banks continue to release material levels of the cash collateral
for its precious metal leases or leverage remains well below 4.0
and free cash flow as a percentage of debt remains above 5% on a
sustainable basis, Moody's could assess the appropriateness of a
higher rating.

Ratings Affirmed:

* Corporate Family Rating, B1

* Probability of Default Rating B1

* $172.5 million Senior Unsecured Convertible 6.5% Notes due 2013,
  B2 LGD5, 71%

The last rating action on Ferro was on May 13, 2010, when Moody's
changed Ferro's outlook to positive.

Ferro Corporation, headquartered in Cleveland, Ohio, is a global
producer of an array of specialty materials and chemicals
including coatings, enamels, pigments, plastic compounds, and
specialty chemicals for use in industries ranging from
construction, and telecommunications.  Revenues were $1.9 billion
for the LTM ended June 30, 2010.


FIBERVISIONS CORPORATION: Moody's Lifts Corp. Family Rating to B1
-----------------------------------------------------------------
Moody's Investors Service upgraded FiberVisions' Corporate Family
Rating to B1 from B2, the ratings on its revolver and first lien
term loan to Ba3 and the rating on the second lien term loan to
B2.  The upgrade reflects the improvement in the company's
financial metrics and substantial debt reduction over the past
several years.  The rating outlook is stable.  This summarizes the
ratings:

FiberVisions Corporation

* Corporate Family Rating -- B1 from B2

* Probability of Default Rating -- B1 from B2

* $20mm Gtd Sr Sec First Lien Revolving Credit Facility due 2011 -
  Ba3 (LGD3, 36%) from B1 (LGD3, 38%)

* $70mm Gtd Sr Sec First Lien Term Loan due 2013 - Ba3 (LGD3, 36%)
  from B1 (LGD3, 38%)

* $20mm Gtd Sr Sec Second Lien Term loan due 2013 -- B2 (LGD5,
  75%) from Caa1 (LGD5, 79%)

* Outlook - stable

FiberVisions has reduced its leverage through expanding profits
and paying down debt.  Its financial results have improved as
volumes have increased since 2008 and gross margins expanded.
Overall volumes grew in 2009, despite the contraction in sales for
certain cyclical industrial applications, and are continuing to
grow in 2010.  Gross margins have risen with improvements in
passing through raw material cost increases to customers on a
timely basis.  Additionally, its higher margin bi-component fiber
is expected to be its fastest growing product line.  The company
generated positive free cash flow in 2009 and paid down
$15.5 million of debt last year, and an additional $7 million
during the first half of 2010.  Its Net Debt / EBITDA ratio
(including Moody's standard analytical adjustments which add
$3 million to debt to account for operating leases) was 2.1x as of
December 31, 2009.  The two notch upgrade of the second lien debt
in accordance with the application of Moody's loss given default
(LGD) methodology reflects the reduction of more senior (first
lien) debt in the capital structure.

FiberVisions' liquidity should remain adequate through the end of
fiscal 2010.  Its liquidity is supported by increasing cash
balances and Moody's expectation for positive free cash flow over
the next 12-18 months.  Moody's notes that the revolving credit
facility matures on March 31, 2011 and expects it will be replaced
or amended well before its maturity, despite the low probability
of it being needed to fund current ongoing operations.  Moody's
also believes that the combination of the maturing revolver and
the 2013 maturities of their term loan raise event risk.  However,
existing term loan holders would be repaid upon a change of
control.

Moody's last rating action concerning FiberVisions was on
September 27, 2006.  At that time Moody's upgraded the ratings on
the revolver and term loan to B1 from B2 when Moody's implemented
the Probability-of-Default and Loss-Given-Default rating
methodology for the US Chemicals and Allied Products companies.

FiberVisions, headquartered in Duluth, Georgia, is a producer of
polypropylene-based staple fiber for nonwoven fabrics and textile
fibers used in consumer, industrial and construction products with
four manufacturing facilities on three continents (North America,
Europe and Asia).  The firm is wholly-owned by funds managed by
Snow Phipps Group, LLC, a New York-based private equity firm.
Revenues for the twelve months ended March 31, 2010, were
approximately $295 million.


FLEETWOOD ENTERPRISES: Wins Confirmation of Liquidating Plan
------------------------------------------------------------
Kimberly Pierceall at The Press-Enterprises reports the U.S.
Bankruptcy Court for the Central District of California approved
the liquidating Chapter 11 plan for Fleetwood Enterprises Inc.

According to the report, the confirmation would allow Fleetwood to
distribute left-over cash to creditors it owes.  The Company's
lender ISIS is expected to get $17.8 million while Bank of America
will receive $1.7 million in funds.  The Company's unsecured
creditors will get between $10 million and $28.7 million under the
Plan.  Unsecured claims are expected to total between $115 million
and $195$ million in claims against the Company.

The Troubled Company Reporter on July 28, 2010, citing Bankruptcy
Data, reported that the Plan, as amended, embodies a settlement in
principle with the majority holders of 14% Notes and 6% Notes
that, in the aggregate, asserted in excess of $233 million of
claims against the Debtors.  In December 2008, approximately $81
million of the 5% Notes issued by FEI were exchanged for 14%
notes, which were guaranteed and secured by certain assets of the
Debtors.  The Debtors instituted an avoidance action against the
14% Notes.  The Creditors' Committee was then given standing to
pursue the avoidance action and filed an amended complaint to
avoid the issuance of the14% Notes, the security interests and
guarantees granted to the holders of the 14% Notes.

The Plan provides for the orderly liquidation of the remaining
assets of the Debtors and the distribution of the proceeds of the
liquidation of the Debtors' assets according to the priorities set
forth in the Bankruptcy Code.  To accomplish these liquidation and
distribution goals, the Plan contemplates the creation of a
Liquidating Trust to hold estate assets and the appointment of a
Liquidating Trustee to administer the assets.

                    About Fleetwood Enterprises

Based in Riverside, California, Fleetwood Enterprises, Inc., was
the second largest manufactured housing maker in the U.S. and the
largest manufacturer of recreational vehicles over 30 feet in
length.

Fleetwood Enterprises listed assets of $560 million against debt
totaling $624 million in its bankruptcy petition.  Fleetwood
Enterprises, together with 19 of affiliates, filed for Chapter 11
protection on March 10, 2009 (Bankr. C.D. Calif. Lead Case No.
09-14254).  Craig Millet, Esq., and Solmaz Kraus, Esq., at Gibson,
Dunn & Crutcher LLP, represent the Debtors in their restructuring
efforts.  FTI Consulting Inc. is the financial advisor to the
Debtors.  The Debtors tapped Greenhill & Co. LLC as its investment
banker.


FORD MOTOR: Bank Debt Trades at 3% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which Ford Motor Co. is
a borrower traded in the secondary market at 97.15 cents-on-the-
dollar during the week ended Friday, July 30, 2010, an increase of
1.80 percentage points from the previous week, according to data
compiled by Loan Pricing Corp. and reported in The Wall Street
Journal.  The Company pays 300 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Dec. 15, 2013, and
carries Moody's Ba3 rating and Standard & Poor's B- rating.  The
loan is one of the biggest gainers and losers among 193 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles
across six continents.  With about 200,000 employees and about 90
plants worldwide, the company's automotive brands include Ford,
Lincoln, Mercury and Volvo.  The Company provides financial
services through Ford Motor Credit Company.

At December 31, 2009, the Company had $194.85 billion in total
assets against $201.37 billion in total liabilities.  Total
deficit attributable to Ford Motor at December 31, 2009, was
$7.82 billion.

As reported by the Troubled Company Reporter on June 7, 2010,
Moody's released an Issuer Comment stating that the ratings and
outlook of Ford Motor Company are being maintained following the
company's announcement that it will end production of Mercury
vehicles during the fourth quarter of this year.  Ford's ratings
include: B1 Corporate Family Rating and Probability of Default
Rating; Ba1 secured rating; B2 unsecured rating; and SGL-2
Speculative Grade Liquidity Rating.  The rating outlook is stable.

The last rating action on Ford was an upgrade of the company's
Corporate Family Rating to B1 on May 18, 2010.


FOREVER CONSTRUCTION: Case Summary & 20 Largest Unsec Creditors
---------------------------------------------------------------
Debtor: Forever Construction, Inc.
        222 North Genesee Street, Suite 205
        Waukegan, IL 60085

Bankruptcy Case No.: 10-33276

Chapter 11 Petition Date: July 27, 2010

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Jack B. Schmetterer

Debtor's Counsel: Joel A. Schechter, Esq.
                  Law Offices Of Joel Schechter
                  53 W Jackson Blvd., Suite 1522
                  Chicago, IL 60604
                  Tel: (312) 332-0267
                  Fax: (312) 939-4714
                  E-mail: joelschechter@covad.net

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

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

The petition was signed by Jorge M. Torres, president.

Debtor's List of 20 Largest Unsecured Creditors:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Norstates Bank            Mortgage lien on       $120,000
P.O. Box 39               Galilee Park
Waukegan, IL 60085-0039   Subdivision

Bell Heating & Air        Services               $90,000
14405 Jody Lane
Wadsworth, IL 60083

Southport Mechanical, LLC breach of contract     $89,000
c/o Trobe, Babowice &
Associates LL
404 West Water Street
Waukegan, IL 60085

Kone Inc.                 claim for elevator     $82,723
                          installation

HSBC Business Solutions   credit card purchases  $70,903

Home Depot                materials              $55,000

Alfreda Fitzpatrick       alleged personal       $50,000
                          injury

Grubb Stake               claim for breach of    $50,000
Properties II             articles of agreement

Credit Protection         insurance audit        $44,500
Assoc., LP                2005-2006

American Express          credit card purchases  $35,000

HSBC Business Solutions   credit card purchases  $30,886

Stanphil Electric         services               $24,000

Dover Building            materials              $22,000
Supplies

Home Depot                materials              $21,800

United Rental             services               $13,000

U.S. Energy               services               $10,938

C & T Windows             services               $7,000

Manhardt Consulting       services               $5,500

Sears                     credit card purchases  $3,332

Bell Awnings, Inc.        services               $1,688
dba Lk Shore Aw


FREESCALE SEMICON: Bank Debt Trades at 8% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Freescale
Semiconductor, Inc., is a borrower traded in the secondary market
at 91.85 cents-on-the-dollar during the week ended Friday,
July 30, 2010, an increase of 2.11 percentage points from the
previous week, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  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 193 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.


GANNETT CO: Moody's Retains 'Ba1' Corporate Family Rating
---------------------------------------------------------
Moody's Investors Service upgraded Gannett Co, Inc.'s speculative-
grade liquidity rating to SGL-2 from SGL-3.  The upgrade reflects
Gannett's meaningfully improved current and projected headroom
within the financial maintenance covenants in its credit
facilities driven by debt reduction from free cash flow,
significant cost reductions, and greater revenue stability.
Gannett's Ba1 Corporate Family Rating and Probability of Default
Rating, debt instrument ratings, and negative rating outlook are
not affected.

Upgrades:

Issuer: Gannett Co., Inc.

  -- Speculative Grade Liquidity Rating, Upgraded to SGL-2 from
     SGL-3

Gannett is aggressively managing its cost structure including
sizable reductions in the production and distribution costs of its
publishing operations.  Moderation of the severe cyclical downward
pressure affecting advertising revenue and debt reduction funded
from free cash flow are also contributing to improving credit
metrics.  Moody's believes Gannett's debt-to-EBITDA (approximately
2.8x LTM 6/27/10 incorporating Moody's standard adjustments) and
free cash flow-to-debt (23.4% LTM 6/27/10 incorporating Moody's
standard adjustments) are in line with the levels anticipated in
the Ba1 CFR.

Refinancing risk associated with the 2012 revolver and senior note
maturities is now the primary driver of the negative rating
outlook.  Moody's expects that Gannett will seek to chip away at
its maturities in the near term.  However, volatile investor
sentiment toward newspaper issuers creates refinancing risk until
transactions are completed to reduce maturities to levels that can
be serviced with free cash flow and committed revolver capacity.
Also, a refinancing of the 2011 notes ($433 million face value
outstanding) with cash flow or guaranteed debt would reduce the
amount of unguaranteed debt that is structurally junior to the
guaranteed notes and credit facility.  This could potentially
cause the rating on the guaranteed debt to decline to Ba1 from
Baa3.

Gannett's SGL-2 speculative-grade liquidity rating reflects
Moody's expectation that Gannett will meet its $663 million of
2011 maturities with existing cash, projected free cash flow and
undrawn capacity on the $2.75 billion revolvers (approximately
$1.8 billion available as of 6/27/10) and that it will maintain a
meaningful covenant cushion (greater than 30%).  However, the SGL
rating could be lowered to SGL-4 if the March/April 2012
maturities are not proactively addressed within 12-15 months of
maturity.

The last rating action on Gannett was September 29, 2009, when
Moody's assigned Baa3 ratings to the company's senior unsecured
notes due 2014 and 2017.

Gannett, headquartered in McLean, Virginia, is a diversified local
newspaper and broadcast operator that also has ownership interests
in a number of online ventures including a majority stake in
CareerBuilder.  Revenue for the LTM ended 6/27/10 is approximately
$5.4 billion factoring in recent divestitures.


GLOBAL BRASS: S&P Assigns 'B' Corporate Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services said that it assigned a
preliminary 'B' corporate credit rating to Schaumburg, Ill.-based
Global Brass and Copper Inc.  The rating outlook is stable.

At the same time, S&P also assigned a preliminary 'B' (same as the
corporate credit rating) issue-level rating to GBC's proposed
$330 million senior secured term loan due 2015.  The preliminary
recovery rating is '4', indicating S&P's expectation of average
(30%-50%) recovery for lenders in the event of a payment default.

Proceeds from the proposed term loan, combined with borrowings
under a new asset-based revolving credit facility, are expected to
be used to refinance the company's existing indebtedness, fund a
distribution to the equity sponsor, and to pay fees and expenses
related to the transaction.

"The preliminary 'B' corporate credit rating on Global Brass and
Copper reflects the combination of the company's vulnerable
business risk profile and aggressive financial risk profile," said
Standard & Poor's credit analyst Maurice Austin.  "The company is
exposed to cyclical end-markets, including building and
construction, defense, electrical and electronics, and industrial
machinery and equipment, which can result in wide variations in
operating performance."

In addition, the company's vulnerable business risk profile
reflects its relative small scale and scope compared to other
metals producers and distributors.  The rating also takes into
consideration S&P's view that the company should have adequate
liquidity (after giving effect to the proposed financing
transactions) to meet its near-term obligations, that it has long-
standing customer relationships, and has improved its
profitability by lowering its operating costs and enhancing its
operational flexibility.


GREAT ATLANTIC: Moody's Affirms 'Caa2' Corporate Rating
-------------------------------------------------------
Moody's Investors Service downgraded the Speculative Grade
Liquidity rating of The Great Atlantic and Pacific Tea Company to
SGL-4 from SGL-3, and affirmed its Caa3 Probability of Default
Rating and Caa2 Corporate Family Rating, as well as other debt
ratings.

The downgrade of the SGL rating to SGL-4 (reflecting weak
liquidity) results from unexpectedly poor operating results in the
first quarter of the current fiscal year.  A&P does have
sufficient liquidity to meet immediate operating needs, but
liquidity is strained over the next four quarters as a result of
the company's debt maturity in June 2011.  Vendor support remains
satisfactory, and management has indicated a willingness to
explore options which could improve liquidity and potentially ease
refinancing pressure.

The long term ratings continue to reflect Moody's expectation that
A&P's sales performance and profit margins are unlikely to recover
quickly from their recent weak levels, and that cash flow and
credit metrics are therefore likely to remain extremely weak.  "We
believe that A&P's capital structure is ultimately unsustainable
at current performance levels," said Marie Menendez, Senior Vice
President at Moody's.  As a result, Moody's believes that there is
a relatively high probability that the company could pursue a
material change to its capital structure.  This could include
transactions which Moody's would view as a distressed exchange and
hence a default.

The rating outlook is negative, and reflects the potential for
ratings to fall in the near term unless the company is able to
improve its cash from operations.  The ratings reflect a strong
likelihood that debtholders will incur a significant loss on their
holdings.

This rating was downgraded:

* Speculative Grade Liquidity Rating to SGL-4 from SGL-3.

These ratings were affirmed:

* Corporate Family Rating of Caa2
* Probability of Default Ratingat of Caa3
* Senior convertible notesof Caa3 (LGD 4, 53%)
* Senior unsecured notes of Caa3 (LGD4, 53%)
* Senior Unsecured Shelf of (P)Caa3 (LGD 4, 53%)
* Subordinated Shelf of (P)Ca (LGD 5, 85%)
* JR. Subordinated Shelf of (P)Ca (LGD 5, 85%)
* Preferred Shelf of (P)Ca (LGD 5, 89%)
* Senior secured notes at Caa1 (LGD 2, 21%)

The last rating action for Great A&P was the downgrade of these
debt ratings on April 9, 2010: CFR to Caa2 from Caa1, PDR to Caa3
from Caa1, Senior notes and senior convertible notes to Caa3 from
Caa2, Speculative Grade Liquidity Rating to SGL-3 from SGL-2,
Shelf Ratings to (P)Caa3 and (P)Ca from (P)Caa2 and (P)Caa3.

The Great Atlantic and Pacific Tea Company, headquartered in
Montvale, N.J., operates 433 grocery stores in the Northeast US
with particular concentration in the New York, New Jersey and
Pennsylvania markets.  Banners include A&P, Pathmark, and Food
Emporium.


GREENVALE CONSTRUCTION: Files for Chapter 11 Protection
-------------------------------------------------------
Greenvale Construction, LLC, filed for Chapter 11 in Nashville,
Tennessee (Bankr. M.D. Tenn. Case No. 10-07875) on July 27, 2010.

According to Tennessean.com, the Company said it owes $76,521 to
84 Lumber Co.; and $20,533, HH Gregg in Indianapolis.  The Company
also owes money to local creditors including Smyrna Ready Mix,
Thomas & Sons Electric and Wall to Wall Floor Covering.

Murfreesboro, Tennessee-based Greenvale Construction is a major
builder of homes in Antioch, Rutherford and Wilson counties, in
Tennessee.


GREENVALE CONSTRUCTION: Case Summary & 20 Largest Unsec Creditors
-----------------------------------------------------------------
Debtor: Greenvale Construction, LLC
        1418 Kensington Square Court, Building A
        Murfreesboro, TN 37130

Bankruptcy Case No.: 10-07875

Chapter 11 Petition Date: July 27, 2010

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

Judge: Keith M. Lundin

Debtor's Counsel: Thomas Larry Edmondson, Sr., Esq.
                  T. Larry Edmondson Attorney at Law
                  800 Broadway 3D FL
                  Nashville, TN 37203
                  Tel: (615) 254-3765
                  Fax: (615) 254-2072
                  E-mail: larryedmondson@live.com

Estimated Assets: $0 to $50,000

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

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/tnmb10-07875.pdf

The petition was signed by Mark Thomason, chief manager.


GTC BIOTHERAPEUTICS: July 4 Balance Sheet Upside Down by $27.4MM
----------------------------------------------------------------
GTC Biotherapeutics Inc. filed its quarterly report on Form 10-Q
for the quarter ended July 4, 2010.

The Company's balance sheet at July 4, 2010, showed $30.39 million
in assets and total debts of $57,75 million, for a stockholder's
deficit of $27.36 million.  Accumulated deficit has now reached
$336.88 million.

The total net loss for the second quarter improved to roughly $0.3
million, or $0.01 per share, compared to $10.8 million, or $1.03
per share, for the second quarter of 2009.   The total net loss
for the first six months of 2010 was $8.1 million, or $0.27 per
share, compared to $21.1 million, or $2.03 per share, for the
first six months of 2009.

Revenues were approximately $4.9 million for the current quarter,
compared to approximately $0.7 million for the second quarter of
2009.  Revenues were approximately $5.3 million for the first six
months of 2010 compared to approximately $0.9 million for the
first six months of 2009, an increase of approximately
$4.4 million.  The revenue increases in 2010 were primarily from
approximately $4.4 million of previously deferred revenue related
to our agreement with LEO Pharma.  The company said, "We
recognized this revenue once we received a favorable award in the
ICC arbitration proceedings at the end of the second quarter."

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6742

A full-text copy of the Company's Form 10-Q is available for free
at http://ResearchArchives.com/t/s?675f

                      About GTC Biotherapeutics

Framingham, Mass.-based GTC Biotherapeutics, Inc. (OTC BB: GTCB)
-- http://www.gtc-bio.com/-- develops, supplies and
commercializes therapeutic proteins produced through transgenic
animal technology.  ATryn(R), GTC's recombinant human
antithrombin, has been approved for use in the United States and
Europe.  ATryn(R) is the first and only therapeutic product
produced in transgenic animals to be approved anywhere in the
world.

In addition to ATryn(R), GTC is developing a portfolio of
recombinant human plasma proteins with known therapeutic
properties.  These proteins include recombinant forms of human
coagulation factors VIIa and IX, which are being developed for the
treatment of patients with hemophilia, and recombinant alpha-
fetoprotein, which is being developed for the treatment of
myasthenia gravis and multiple sclerosis.

                           *     *     *

According to the Troubled Company Reporter on July 22, 2010,
GTC Biotherapeutics, Inc. has negative working capital of
US$13.1 million as of April 4, 2010.  The Company had negative
working capital of US$16.1 million as of January 3, 2010.


HARRAH'S ENTERTAINMENT: HOC Bank Debt Trades at 102.22%
-------------------------------------------------------
Participations in a syndicated loan under which Harrah's Operating
Company, Inc., is a borrower traded in the secondary market at
102.22 cents-on-the-dollar during the week ended Friday, July 30,
2010, an increase of 1.85 percentage points from the previous
week, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  The Company pays 750 basis
points above LIBOR to borrow under the facility.  The bank loan
matures on Oct. 23, 2016, and carries Moody's Caa1 rating and
Standard & Poor's B rating.  The loan is one of the biggest
gainers and losers among 193 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Las Vegas, Nevada-based Harrah's Entertainment, Inc. --
http://www.harrahs.com/-- through its wholly owned subsidiary,
Harrah's Operating Company, Inc., operates nearly 40 casinos
across the United States, primarily under the Harrah's(R),
Caesars(R) and Horseshoe(R) brand names; Harrah's also owns the
London Clubs International family of casinos and the World Series
of Poker(R).  Private equity firms Apollo Global Management and
TPG Capital LP acquired Harrah's in January for $31 billion.

Harrah's Entertainment, Inc., reported its financial results for
the first quarter March 31, 2010, showing a $193.6 million net
loss on $2.19 billion of net revenues for quarter ended March 31,
2010, compared with a $127.5 million net loss on $2.25 billion of
net revenues for the same period a year earlier.  March 31, 2010,
the Company had $29.26 billion of total assets, $27.73 billion of
total liabilities, and $1.53 billion of stockholders' equity.
The March 31 balance sheet showed strained liquidity with
$1.67 billion in total current assets against $1.82 billion of
total current liabilities.


HAWKER BEECHCRAFT: Bank Debt Trades at 19% Off in Secondary Market
------------------------------------------------------------------
Participations in a syndicated loan under which Hawker Beechcraft
is a borrower traded in the secondary market at 80.67 cents-on-
the-dollar during the week ended Friday, July 30, 2010, an
increase of 0.89 percentage points from the previous week,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 200 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
March 26, 2014, and carries Moody's Caa1 rating and Standard &
Poor's CCC+ rating.  The loan is one of the biggest gainers and
losers among 193 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

Hawker Beechcraft Acquisition Company, LLC, headquartered in
Wichita, Kansas, is a leading manufacturer of business jets,
turboprops and piston aircraft for corporations, governments and
individuals worldwide.

Hawker Beechcraft Acquisition Company LLC reported a net loss of
$63.4 million on $568.2 million of total sales for the three
months ended March 28, 2010, compared with net income of
$53.1 million on $537.6 million of sales for the three months
ended March 29, 2009.  The Company's balance sheet at March 28,
2010, showed $3.41 billion in total assets and $3.36 billion in
total liabilities for a stockholders' equity $56.5 million.


HEALTH MANAGEMENT: Bank Debt Trades at 6% Off in Secondary Market
-----------------------------------------------------------------
Participations in a syndicated loan under which Health Management
Associates, Inc., is a borrower traded in the secondary market at
94.04 cents-on-the-dollar during the week ended Friday, July 30,
2010, an increase of 0.79 percentage points from the previous
week, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  The Company pays 175 basis
points above LIBOR to borrow under the facility.  The bank loan
matures on Feb. 28, 2014, and carries Moody's B1 rating and
Standard & Poor's BB- rating.  The loan is one of the biggest
gainers and losers among 193 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Headquartered in Naples, Florida, Health Management Associates,
Inc., owns and operates acute-care hospitals in non-urban
settings.  The company provides inpatient services such as general
surgery, and oncology as well as outpatient services such as
laboratory, x-ray and physical therapy services.  In addition,
some facilities also offer specialty services such as cardiology,
radiation therapy and MRI scanning.

Health Management carries a 'B1' long term corporate and
probability of default ratings, with stable outlook, from Moody's,
a 'B+' issuer credit ratings, with negative outlook, from Standard
& Poor's, and a 'B+' long term issuer default rating, with stable
outlook, from Fitch.


HEALTHSOUTH CORP: Bank Debt Trades at 3% Off in Secondary Market
----------------------------------------------------------------
Participations in a syndicated loan under which HealthSouth
Corporation is a borrower traded in the secondary market at 96.85
cents-on-the-dollar during the week ended Friday, July 30, 2010,
an increase of 0.83 percentage points from the previous week,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 225 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
March 10, 2013, and carries Moody's Ba3 rating and Standard &
Poor's BB- rating.  The loan is one of the biggest gainers and
losers among 193 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

Birmingham, Alabama-based HealthSouth Corporation (NYSE: HLS) --
http://www.healthsouth.com/-- is the nation's largest provider of
inpatient rehabilitative healthcare services.  Operating in 26
states across the country and in Puerto Rico, HealthSouth serves
patients through its network of inpatient rehabilitation
hospitals, long-term acute care hospitals, outpatient
rehabilitation satellites, and home health agencies.

At Sept. 30, 2009, the Company had $1.754 billion in total assets
against $2.288 billion in total liabilities and $387.4 million of
convertible perpetual preferred stock.  At Sept. 30, 2009, the
Company had accumulated deficit of $3.756 billion, healthsouth
shareholders' deficit of $1.002 billion, noncontrolling interests
of $80.8 million and total shareholders' deficit of
$921.9 million.


HERTZ GLOBAL: S&P Retains CreditWatch Positive on Ratings
---------------------------------------------------------
Standard & Poor's Ratings Services said that its ratings on auto
and equipment renter Hertz Global Holdings Inc. (B/Watch Pos/--)
and its major operating subsidiary, Hertz Corp., remain on
CreditWatch with positive implications.

The ratings on Park Ridge, N.J.-based Hertz Global Holdings Inc.
and Hertz Corp. reflect an aggressive financial profile, and the
price-competitive and cyclical nature of on-airport car rentals
and equipment rentals.  The company has addressed previous
material refinancing risk through several financings it completed
over the last year.  The ratings also incorporate the company's
position as the largest global car rental company and the strong
cash flow its businesses generate.

"If Hertz's proposed acquisition of Dollar Thrifty Automotive
Group Inc. (DTAG; B-/Watch Pos/--) under the current terms is
successful, S&P believes it will aid Hertz's business profile,
without substantially hurting its financial risk profile," said
Standard & Poor's credit analyst Betsy R.  Snyder.  However, even
if Avis Budget Group Inc. (B+/Stable/--) is successful in
acquiring DTAG, S&P believes Hertz's improved operating and
financial performance could result in higher ratings, even without
a DTAG acquisition.  "If Hertz raises its bid to counter Avis
Budget's bid, this could affect the current CreditWatch
implications," she continued.

If Hertz's bid for DTAG as proposed is successful or if it raises
its bid to counter Avis Budget's bid, S&P will evaluate its
expectations for the Hertz business risk and financial risk
profiles, pro forma for the acquisition.  If Hertz's bid is
unsuccessful, S&P will evaluate its improved operating and
financial performance.  S&P will address these outcomes in
resolving the CreditWatch listing.


IAME GROUP: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: IAME Group Ltd.
        dba Institute for Advanced Medical Education
        54 Hearthstone Lane South
        South Londonderry, VT 05155

Bankruptcy Case No.: 10-23505

Chapter 11 Petition Date: July 27, 2010

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

Judge: Robert D. Drain

Debtor's Counsel: Dawn K. Arnold, Esq.
                  E-mail: darnold@rattetlaw.com
                  Erica R. Feynman, Esq.
                  E-mail: efeynman@rattetlaw.com
                  Rattet, Pasternak & Gordon-Oliver, LLP
                  550 Mamaroneck Avenue
                  Harrison, NY 10528
                  Tel: (914) 381-7400
                  Fax: (914) 381-7406

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

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 Irwin Kuperberg, president.


INNKEEPERS USA: 341 Meeting of Creditors Set for Sept. 14
---------------------------------------------------------
Tracy Hope Davis, Acting United States Trustee for Region 2, will
convene a meeting of creditors of Innkeepers USA Trust and its 91
Debtor affiliates on September 14, 2010, at 2:30 p.m. prevailing
Eastern Time, at the Office of the U.S. Trustee at 80 Broad
Street, 4th Floor, in New York.

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

Attendance by the Debtors' creditors at the meeting is welcome,
but not required.  The Section 341(a) meeting offers the creditors
a one-time opportunity to examine the Debtors' representative
under oath about the Debtors' financial affairs and operations
that would be of interest to the general body of creditors.

                   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: U.S. Trustee Appoints 5-Member Creditors Committee
------------------------------------------------------------------
Tracy Hope Davis, Acting United States Trustee for Region 2,
appointed five members to the Official Committee of Unsecured
Creditors in the Chapter 11 cases of Innkeepers USA Trust and its
91 debtor affiliates:

  (1) JMC Global
      7 Grogans Park Drove
      The Woodlands, Texas 77380
      Attn: John M. Crawley, President
      Tel: (281) 932-4119
      Fax: (832) 381-2495

  (2) PDQ Consulting, Inc.
      407 Woodlake Drive
      Allen, Texas 75013
      Attn: Duane Newman, CEO & President
      Tel: (214) 405-1324
      Fax: (972) 767-3019

  (3) Triangle Renovations USA
      3760 Louisville Road
      Louisville, Tennessee 37777
      Attn: John Thomas, President
      Tel: (865) 380-6568
      Fax: (865) 983-7549

  (4) American Hotel Register Company
      1006 Milwaukee
      Vernon Hills, Illinois 60061
      Attn: John Shipkowski, Collection Manager
      Tel: (847) 743-1974
      Fax: (847) 743-3974

  (5) The Eric Ryan Corporation
      P.O. Box 473
      Ellwood City, Pennsylvania 16117
      Attn: Keith Venezie, CEO
      Tel: (724) 758-2922
      Fax: (724) 752-8999

The members of the Creditors Committee are among the Debtors' 50
largest unsecured trade creditors.

According to the Debtors' list of creditors submitted to the Court
on the Petition Date, the Debtors owe these amounts to the
Committee members:

      Creditor                          Claim Amount
      --------                          ------------
      American Hotel Register Co.            $82,476
      JMC Global                              65,219
      The Eric Ryan Corporation               58,259
      Triangle Renovations USA                47,035
      PDQ Consulting, Inc.                    43,153

                   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).


INTERNATIONAL COAL: Posts $4.5-Mil. Net Income for June 30 Qtr.
---------------------------------------------------------------
International Coal Group Inc. reported its results for the second
quarter of 2010.

   * Adjusted EBITDA was $44.8 million for the second quarter of
     2010 compared to $52.2 million for the second quarter of
     2009.  Second quarter 2010 Adjusted EBITDA was reduced by a
     $10.0 million charge due to a negotiated early termination of
     a thermal coal sales agreement.  This termination enables ICG
     to sell approximately 400,000 additional tons as premium
     high-volatile metallurgical coal at significantly higher
     prices during 2010 and 2011.  Second quarter 2009 results
     included a $7.7 million gain related to the termination of a
     below-market coal supply agreement.  Exclusive of these
     items, Adjusted EBITDA would have been $54.8 million in the
     second quarter of 2010 and $44.5 million for the same period
     in 2009, a 23% increase.

   * Net income was $4.5 million, or $0.02 per share on a diluted
     basis, for the second quarter of 2010 compared to net income
     of $10.4 million, or $0.07 per share on a diluted basis, for
     the second quarter of 2009. Net income for the second quarter
     of 2010 also included a $6.1 million pre-tax loss on
     extinguishment of debt related to the Company's capital
     restructuring.  Excluding the $10.0 million contract buyout
     and the $6.1 million loss on extinguishment of debt, pro
     forma net income in the second quarter of 2010 would have
     been $13.5 million, or $0.07 per share on a diluted basis.
     Excluding the $7.7 million gain related to the 2009 contract
     termination, pro forma net income in the second quarter of
     2009 would have been $5.6 million, or $0.04 per share on a
     diluted basis.

   * Margin per ton sold increased 26% to $14.28 in the second
     quarter of 2010 compared to $11.32 for the same period last
     year, primarily due to higher price realization.

   * Revenues increased to $300.4 million for the second quarter
     of 2010 compared to $277.8 million for the second quarter of
     2009, primarily due to increased coal sales revenues.

The company's balance sheet for June 30, 2010, showed $1.4 billion
in total assets and $740.3 million in total liabilities, for a
$726.9 million total stockholders' deficit.

"Our operating performance was solid throughout the second
quarter," said Ben Hatfield, President and CEO of ICG.  "The
improved margins, compared to the second quarter of 2009, were
driven primarily by our moves to sell more metallurgical tons with
higher pricing and our continued focus on effective cost control."

Hatfield continued, "We're seeing a steady improvement in thermal
coal pricing, as utility coal inventories have fallen from record
highs in November 2009 and are slowly approaching normalized
levels.  Above-normal summer temperatures are expected to further
reduce coal stockpiles and provide more support for thermal
prices.  Although demand for metallurgical coal slowed in the
second half of the quarter, we believe this plateau is temporary
and not an indication of an extended change in the market
outlook."

                         Six-Month Results

Revenues for the first six months of 2010 totaled $589.0 million
compared to $582.8 million for the same period in 2009.  The
Company reported Adjusted EBITDA of $91.7 million in the first six
months of 2010 compared to $96.7 million in the first six months
of 2009.  First-half Adjusted EBITDA was reduced in 2010 by a
$10.0 million contract buyout and increased in 2009 by a
$7.7 million contract termination gain.  Excluding these
transactions, first-half Adjusted EBITDA would have been
$101.7 million in 2010 and $89.0 million in 2009.

Net loss for the first half of 2010 was $4.4 million, or $0.02 per
share on a diluted basis, versus net income of $14.1 million, or
$0.09 per share on a diluted basis, for the same period a year
ago.  Excluding the $10.0 million contract buyout and the
$28.1 million loss on the extinguishment of debt, pro forma net
income in the first six months of 2010 would have been
$19.7 million, or $0.10 per share on a diluted basis.  Excluding
the $7.7 million gain related to the contract termination, pro
forma net income in the first six months of 2009 would have been
$9.3 million, or $0.06 per share on a diluted basis.

                 Sales, Production and Reserves

ICG sold 4.1 million tons of coal during the second quarter of
2010 compared to 4.2 million tons during the second quarter of
2009.  Production totaled 4.0 million tons in the second quarter
of 2010 versus 4.2 million tons in the same period of 2009.
Metallurgical shipments of 622,000 tons represented a 421,000-ton
increase over the second quarter of the prior year.

As of June 30, 2010, ICG controlled approximately 1.1 billion tons
of coal reserves, located primarily in Illinois, Kentucky, West
Virginia, Maryland and Virginia.  Additionally, the Company
controlled approximately 431 million tons of non-reserve coal
deposits, which may be classified as reserves in the future as
additional drilling and geotechnical work is completed.

                         Liquidity and Debt

As of June 30, 2010, the Company had $205.3 million in cash and
has $33.3 million in borrowing capacity available under its new
credit agreement.

Debt outstanding as of June 30, 2010, totaled $365.3 million,
net of a $36.3 million discount, consisting primarily of
$115.0 million aggregate principal amount of newly issued 4.0%
Convertible Senior Notes and $200.0 million aggregate principal
amount of newly issued 9.125% Senior Secured Second-Priority
Notes.

                              Outlook

The Company has updated its guidance to reflect modifications to
its production mix and the global economic conditions affecting
the coal market:

   * For 2010, the Company expects to sell between 16.6 million
     and 16.8 million tons of coal, including 2.7 million to
     2.8 million tons of metallurgical coal.  The average selling
     price is projected to be $66.25 to $67.25 per ton, with an
     average cost of $51.75 to $52.75 per ton, excluding selling,
     general and administrative expenses.  The Company expects
     coal production to be between 15.8 million and 16.0 million
     tons.

   * Adjusted EBITDA, or earnings before deducting interest,
     income taxes, depreciation, depletion, amortization, loss on
     extinguishment of debt and noncontrolling interest, is
     expected to be in the range of $200 million to $220 million
     in 2010.

   * The Company anticipates 2010 capital expenditures of between
     $105.0 million and $115.0 million.

For 2011, the Company expects to produce and sell between
16.5 million and 17.5 million tons of coal, including 3.1 million
to 3.2 million tons of metallurgical coal.  The average selling
price is projected to be $72.00 to $77.00 per ton.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?675c

                  About International Coal Group

Scott Depot, West Virginia-based International Coal Group, Inc.
(NYSE: ICO) produces coal in Northern and Central Appalachia and
the Illinois Basin.  The Company has 13 active mining complexes,
of which 12 are located in Northern and Central Appalachia, and
one in Central Illinois.  ICG's mining operations and reserves are
strategically located to serve utility, metallurgical and
industrial customers throughout the eastern United States.

                           *     *     *

In March 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on International Coal Group LLC to 'B+'
from 'B-'.   Moody's Investors Service affirmed the
ratings of International Coal Group, including the corporate
family rating of Caa1.


ISP CHEMCO: Bank Debt Trades at 6% Off in Secondary Market
----------------------------------------------------------
Participations in a syndicated loan under which ISP Chemco, LLC,
is a borrower traded in the secondary market at 94.25 cents-on-
the-dollar during the week ended Friday, July 30, 2010, an
increase of 0.96 percentage points from the previous week,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 175 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
May 23, 2014, and carries Moody's Ba3 rating and Standard & Poor's
BB rating.  The loan is one of the biggest gainers and losers
among 193 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

ISP Chemco, LLC, headquartered in Wayne, New Jersey, manufactures
specialty chemicals and industrial chemicals and is part of a
group of companies which is a beneficially owned by Samuel Heyman.
Revenues for the twelve months ending April 5, 2009, were
$1.3 billion.


JER INVESTMENTS: Case Summary & 4 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: JER Investments, LLC
        1 West Park Avenue
        Chippewa Falls, WI 54729

Bankruptcy Case No.: 10-15633

Chapter 11 Petition Date: July 29, 2010

Court: United States Bankruptcy Court
       Western District of Wisconsin (Eau Claire)

Judge: Thomas S. Utschig

Debtor's Counsel: Daniel R. Freund, Esq.
                  920 S. Farwell Street, Suite 1800
                  P.O. Box 222
                  Eau Claire, WI 54702-0222
                  Tel: (715) 832-5151
                  Fax: (715) 832-5491
                  E-mail: freundlaw@fastmail.fm

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

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

A list of the Company's 4 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/wiwb10-15633.pdf

The petition was signed by Raymond B. Myers III, member.


JESUP & LAMONT: Lack of Capital Prompts Bankruptcy Filing
---------------------------------------------------------
Jesup & Lamont, Inc., filed for Chapter 11 on July 30, in
Manhattan (Bankr. S.D.N.Y. Case No. 10-14133).

According to Reuters, Jesup & Lamont sought bankruptcy protection
after regulators shut down the Company for inadequate capital.
The Company listed $41.2 million in assets and $24.5 million in
debts at June 30, 2010.

Reuters relates that the Company, which operates a brokerage, laid
off all non-essential staff after the Financial Industry
Regulatory Authority barred it from executing trades citing lack
of capital.


KOLORFUSION INT'L: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Kolorfusion International, Inc.
        16075 E. 32nd Avenue, Suite A
        Aurora, CO 80011

Bankruptcy Case No.: 10-28857

Chapter 11 Petition Date: July 27, 2010

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: A. Bruce Campbell

Debtor's Counsel: Bonnie Bell Bond, Esq.
                  5613 DTC Pkwy., Suite 1200
                  Greenwood Village, CO 80111
                  Tel: (303) 770-0926
                  E-mail: bonnie@bellbondlaw.com

Scheduled Assets: $596,701

Scheduled Debts: $2,485,267

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cob10-28857.pdf

The petition was signed by Thomas Gerschman, chairman.


KRISPY KREME: Moody's Upgrades Corporate Family Rating to 'B3'
--------------------------------------------------------------
Moody's Investors Service upgraded Krispy Kreme Doughnut
Corporation's ratings, including the Corporate Family Rating to B3
from Caa1, and the bank debt rating to B2 from B3.  The short term
Speculative Grade Liquidity.  Rating was affirmed at SGL-3.  The
rating outlook is stable.

The upgrade and stable outlook acknowledge Krispy Kreme's recovery
of credit metrics due to significant debt-paydown and modest
improvement in operating performance in the past year.  The
company was able to reduce its bank debt by more than 40% since
the beginning of 2009.  Operationally, margin has improved and
topline decline has decelerated as the company continued to
rationalize its domestic operations and expand its international
footprints.  The company's debt/EBITDA for the last twelve months
ended May 2, 2010, improved to 3.1x from above five times a year
ago.  Moody's expects that credit metrics will likely remain at
levels consistent with the B3 rating and liquidity to be adequate
in the near-to-medium term.

Also favorably, the B3 CFR reflects Krispy Kreme's strong brand
recognition, solid growth potential in the international markets
and geographic diversification.  Moody's also notes litigations
surrounding the lingering class action and shareholder derivative
actions that were brought against the company since 2004 have been
settled.

Despite the improved performance and credit metrics, the B3 CFR
incorporates Krispy Kreme's still weaker operating margin and
return on asset compared to other quick service restaurant peers
in the industry.  Moody's believes the low margins are partly
driven by low utilization/over capacity of its domestic stores,
particularly its company owned stores which generate roughly
2/3rds of the company's total revenues.  In addition, Moody's
rating opinion considers the company's earnings volatility due to
its significant exposure to commodity inputs, as well as operating
result sensitivity to sales volume given the high operating
leverage.  The rating also reflects Moody's view that the growth
prospect for its store in the US is somewhat limited considering
its singular product offering; while the international growth
opportunity seems more promising, these expansions could
potentially leave the company more exposed to some operating and
non-operating risks.

These ratings were upgraded:

* Corporate Family Rating -- to B3 from Caa1

* Probability of Default Rating -- to Caa1 from Caa2

* Senior secured revolving bank credit facility due 2013 -- to B2
  (LDG3, 30%) from B3 (LGD-2, 28%)

* Senior secured bank credit facility due 2014 -- to B2 (LDG3,
  30%) from B3 (LGD-2, 28%)

* Rating outlook: to Stable from Negative

* Rating affirmed: Speculative Grade Liquidity rating of SGL-3

Moody's last rating action occurred on May 8, 2009, when the SGL
was upgraded to SGL-3 from SGL-4.  For more information, please
refer to moodys.com for an updated credit opinion.

Kripsy Kreme Doughnut Corporation, headquartered in Winston-Salem,
NC., is a leading branded retailer and wholesaler of its namesake
doughnuts.  Krispy Kreme generates annual net sales and system-
wide sales of approximately $345 million and $720 million
respectively.


LAKEVIEW AT CAROLINA: Sec. 341(a) Meeting Scheduled for August 27
-----------------------------------------------------------------
The U.S. Trustee for the Eastern District of North Carolina will
convene a meeting of Lakeview at Carolina Beach, LLC's creditors
on August 27, 2010, at 10:00 a.m.  The meeting will be held at
USBA Creditors Meeting Room, Two Hannover Square, Room 610, 434
Fayetteville Street Mall, Raleigh, NC 27601.

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.

Dallas, Texas-based Lakeview at Carolina Beach, LLC, filed for
Chapter 11 bankruptcy protection on July 19, 2010 (Bankr. E.D.N.C.
Case No. 10-05718).  Eric A. Liepins, Esq., who has an office in
Dallas, Texas, assists the Company in its restructuring effort.
In its bankruptcy petition, the Company listed $10,902,000 in
assets and $9,486,585 in liabilities.


LAS VEGAS SANDS: Bank Debt Trades at 7% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which Las Vegas Sands
Corp. is a borrower traded in the secondary market at 92.80 cents-
on-the-dollar during the week ended Friday, July 30, 2010, an
increase of 4.18 percentage points from the previous week,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  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 193 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

Based in Las Vegas, Nevada, Las Vegas Sands Corp. (NYSE: LVS) --
http://www.lasvegassands.com/-- owns and operates The Venetian
Resort Hotel Casino, The Palazzo Resort Hotel Casino, and an expo
and convention center.  The company also owns and operates the
Sands Macao, the first Las Vegas-style casino in Macao, China.


LEHMAN BROTHERS: Proposes to Pay Citibank to Assign Tax Debt
------------------------------------------------------------
Bill Rochelle at Bloomberg News reports that Lehman Brothers
Holdings Inc. and brokerage unit Lehman Brothers Inc. face a tax
liability of as much as $283 million if they retain residual
interests in real estate mortgage investment conduits known as
Remics.  Accordingly, the Lehman entities filed a motion asking
the bankruptcy judge for authority to pay Citibank NA $24 million
to assume the tax liability.  A hearing on the request is
scheduled for August 18.

                        About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant to
the provisions of the Securities Investor Protection Act (Case No.
08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase
of Lehman Brothers' North American investment banking and
capital markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also bought
Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEVEL 3 COMMS: Bank Debt Trades at 10% Off in Secondary Market
--------------------------------------------------------------
Participations in a syndicated loan under which Level 3
Communications, Inc., is a borrower traded in the secondary market
at 89.67 cents-on-the-dollar during the week ended Friday,
July 30, 2010, an increase of 1.04 percentage points from the
previous week, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  The Company pays 225
basis points above LIBOR to borrow under the facility.  The bank
loan matures on March 1, 2014, and carries Moody's B1 rating and
Standard & Poor's B+ rating.  The loan is one of the biggest
gainers and losers among 193 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Headquartered in Broomfield, Colorado, Level 3 Communications,
Inc., is a publicly traded international communications company
with one of the world's largest communications and Internet
backbones.

Level 3 Communications carries a 'Caa1' corporate family rating,
and 'Caa2' probability of default rating, with negative outlook
from Moody's, a 'B-' issuer default rating from Fitch, and 'B-'
long term issuer credit ratings from Standard & Poor's.


LIBERTYBANK: Closed; Home Federal Bank Assumes All Deposits
-----------------------------------------------------------
LibertyBank of Eugene, Ore., was closed on Friday, July 30, 2010,
by the Oregon Division of Finance and Corporate Securities, which
appointed the Federal Deposit Insurance Corporation as receiver.
To protect the depositors, the FDIC entered into a purchase and
assumption agreement with Home Federal Bank of Nampa, Idaho, to
assume all of the deposits of LibertyBank.

The 15 branches of LibertyBank will reopen during normal business
hours as branches of Home Federal Bank.  Depositors of LibertyBank
will automatically become depositors of Home Federal 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
LibertyBank should continue to use their existing branch until
they receive notice from Home Federal Bank that it has completed
systems changes to allow other Home Federal Bank branches to
process their accounts as well.

As of March 31, 2010, LibertyBank had around $768.2 million in
total assets and $718.5 million in total deposits.  Home Federal
Bank paid the FDIC a premium of 1.0 percent for the deposits of
LibertyBank.  In addition to assuming all of the deposits of the
failed bank, Home Federal Bank agreed to purchase around
$419.7 million of the failed bank's assets.

The FDIC and Home Federal Bank entered into a loss-share
transaction on $300.0 million of LibertyBank's assets.  Home
Federal 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 1-800-523-8159.  Interested parties also can
visit the FDIC's Web site at:

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $115.3 million. Compared to other alternatives, Home
Federal Bank's acquisition was the least costly resolution for the
FDIC's DIF.  LibertyBank is the 108th FDIC-insured institution to
fail in the nation this year, and the third in Oregon.  The last
FDIC-insured institution closed in the state was Home Valley Bank,
Cave Junction, on July 23, 2010.


LONG BAY: Case Summary & 5 Largest Unsecured Creditors
------------------------------------------------------
Debtor: Long Bay Partners, LLC
        118 N. Clinton St., Suite LL336
        Chicago, IL 60661

Bankruptcy Case No.: 10-35124

Chapter 11 Petition Date: July 27, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Harlin DeWayne Hale

Debtor's Counsel: Gerrit M. Pronske, Esq.
                  Pronske & Patel, P.C.
                  2200 Ross Avenue, Suite 5350
                  Dallas, TX 75201
                  Tel: (214) 658-6500
                  Fax: (214) 658-6509
                  E-mail: gpronske@pronskepatel.com

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

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

A list of the Company's 5 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/txnb10-35124.pdf

The petition was signed by Peter R. Morris, manager.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Bon Secour Partners, LLC               09-37580   11/03/09
PRS II, LLC                            09-31436   03/06/09
PRM Realty Group, LLC                  10-30241   01/06/10
PMP II, LLC                            10-30252   01/07/10
Maluhia Development Group, LLC         10-30475   01/21/10
Maluhia One, LLC                       10-30987   02/08/10
Maluhia Eight, LLC                     10-30986   02/08/10
Maluhia Nine, LLC                      10-30988   02/08/10


MACKINAW POWER: S&P Affirms 'BB-' Rating on $147 Mil. Senior Loan
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its recovery
rating on Mackinaw Power Holdings LLC's (Holdings) $147 million
senior term loan due 2015 to '1' from '2'.  The '1' recovery
rating on the senior term loan indicates expectations of a very
high (90% to 100%) recovery of principal in a default scenario.

The change in the recovery rating is due to higher valuations for
the power plants operating in the southern sub-region of the
Southeast Electric Reliability Council.  Driving this change was a
recent asset sale in the region of a 640 megawatt Sandersville
peaking unit by KGen LLC for about $130 million (or $203 per
kilowatt), creating a more favorable recovery scenario than was
previously assumed (about $125 - $150 per kW for combined-cycle
gas turbine plant and $50 per kW for peaking unit).

                           Ratings List

                          Rating Affirmed

                    Mackinaw Power Holdings LLC

       $147 million senior term loan due 2015    BB-/Stable

                     Recovery Rating Revised

                                           To     From
                                           --     ----
           Recovery Rating                 1      2


MARINA DISTRICT: Fitch Assigns 'B' Issuer Default Rating
--------------------------------------------------------
Fitch Ratings has assigned initial ratings to Marina District
Finance Company, Inc.:

  -- Issuer Default Rating 'B';
  -- Senior secured credit facility 'BB/RR1';
  -- Senior secured first-lien notes 'BB-/RR2'.

The Rating Outlook is Stable.  MDFC is the issuing subsidiary of
the entity that owns the Borgata resort casino in Atlantic City,
New Jersey.  MDFC is part of a 50/50 joint venture between Boyd
Gaming Corp. (IDR 'B+' with a Negative Outlook) and MGM Resorts
International (IDR 'CCC').  MGM's 50% interest in the Borgata JV
is currently being held in a divesture trust pursuant to an
agreement with New Jersey gaming authorities.  Boyd has the right
of first refusal on any offer for the property, so it remains in a
good position to monitor the divestiture process.

MDFC is proposing an issuance of $725 million of first-lien,
senior secured notes, which is expected to be split into two
tranches between 5-year and 8-year tenors.  In addition, MDFC is
entering into a new revolving credit facility with capacity of
$150 million that is expected to be $75 million drawn upon
closing.  The $800 million in expected proceeds from the
transaction will repay roughly $630 million that is outstanding on
MDFC's existing credit facility, fund a partner dividend of about
$150 million, and the balance will pay transaction fees.  Pursuant
to the amended operating agreement between MGM and Boyd related to
the sale of MGM's 50% interest in the Borgata JV, Boyd will
receive roughly $100 million from the one-time, transaction-
related dividend.

The primary considerations for the ratings of MDFC include:

  -- Borgata's high asset quality and market leading position in
     the nation's second largest market with an attractive tax-
     rate environment;

  -- the lack of geographic diversification and single-site nature
     of the stand-alone MDFC credit profile;

  -- a weak Atlantic City market that is not expected to improve
     meaningfully in the near term, as well as uncertainty
     regarding the potential for changes to the gaming environment
     in New Jersey and competing markets;

  -- Borgata's solid free cash flow profile supported by minimal
     development/project capex for the foreseeable future, that
     should support some absolute debt reduction over the next
     couple of years;

  -- pro forma leverage of roughly 4.3 times (x), which Fitch
     estimates may increase slightly in the near term before
     declining to the 4.00x-4.25x range through 2011 and below
     4.0x in 2012;

  -- pro forma interest coverage of around 2.3x, which Fitch
     estimates should remain comfortably above 2x over the next
     couple of years.

Fitch calculates adjusted EBITDA at Borgata was $185 million for
the last 12 months ended June 30, 2010.  Fitch anticipates further
near-term declines in Borgata's EBITDA due to the persistent
competitive pressure in surrounding markets, most recently the
addition of table games in Pennsylvania.

However, Borgata's free cash flow profile is solid, as Fitch
estimates roughly $50-$75 million in annual FCF after interest
costs and capex over the next couple of years.  The discretionary
FCF may be used for some absolute debt reduction and provides some
cushion that underpins Fitch's Stable Outlook on MDFC.

There are no maintenance financial covenants in the notes,
although Fitch expects a 2.0x coverage covenant for additional
indebtedness.  Fitch also expects the credit facility will have a
minimum EBITDA covenant of $150 million, a 4.0x leverage covenant
related to the restricted payment basket (although tax
distributions will still be allowed above 4.0x), and a $30 million
minimum liquidity covenant.

Mdfc Ratings Relative To Boyd:

Fitch recognizes:

  -- The Borgata is the most profitable casino asset in Boyd's
     portfolio and has value as the top asset (by far) in the
     second largest market in the U.S.;

  -- Boyd is the operator of the Borgata and managing member of
     the joint venture;

  -- due to an associated amendment to the JV operating agreement
     that resulted in an elimination of participation rights
     previously held by MGM, Boyd is now consolidating the
     financial results of Marina District Development Company,
     LLC, the intermediate holding company of MDFC, and
     reflecting a non-controlling interest for the 50% stake it
     does not own.

However, these factors support a weak linkage in the ratings:

  -- The debt at MDFC is non-recourse to Boyd and there are no
     cross default provisions to Boyd debt;

  -- the strategic linkage and synergy between MDDC/MDFC and the
     rest of Boyd's portfolio is limited: Borgata has its own
     separate loyalty program, there is minimal cross-market play,
     and there is no common brand between the Borgata and the rest
     of Boyd's portfolio.

Fitch believes that there would be little reason for Boyd to
provide significant support to MDFC in a distressed scenario at
the subsidiary level, particularly if the company maintains only
50% ownership after MGM sells its interest.  As such, the relative
probability of default and IDRs of MDFC and Boyd are only weakly
linked in Fitch's view.  Fitch will consider any impact to Boyd's
ratings concurrently with second quarter results, which will be
released on Aug. 3, 2010.  Fitch notes that given the weak
linkage, a downgrade of Boyd's IDR to 'B' would not impact the
MDFC IDR or other instrument ratings.

Recovery Ratings:

MDFC's Recovery Ratings reflect Fitch's expectations of relative
recovery characteristics of MDFC's obligations following default
and upon emergence from insolvency.  Based on its recovery
scenario, Fitch estimates full recovery of the bank debt, which
equates to a 'BB/RR1' rating or a three-notch positive
differential from the 'B' IDR.  Fitch estimates superior recovery
prospects for the first-lien secured notes in the 71%-90% range,
which equates to a 'BB?/RR2' rating or a two-notch positive
differential from the 'B' IDR.  The credit facility and the notes
are both secured by a first-priority lien on substantially all
material assets.  However, the credit facility has priority
payment in connection with any foreclosing of the collateral or
insolvency proceedings pursuant to an intercreditor agreement.  As
a result, the credit facility has priority in Fitch's recovery
waterfall analysis.


MARK BRUNELL: Signs 2-Year Contract with New York Jets
------------------------------------------------------
Bill Rochelle at Bloomberg News reports Mark Brunell, who had been
the backup quarterback for this year's Super Bowl-winning New
Orleans Saints, signed a two-year contract with the New York Jets.
Before the Saints, Mr. Brunell played for the Washington Redskins,
Jacksonville Jaguars and Green Bay Packers.

Mark Brunell is a National Football League quarterback.
Mr. Brunell played for the Jacksonville Jaguars and has earned
more than $50 million playing football.  Mr. Brunell, a three-time
Pro Bowl selection, is involved with a real estate project that is
being foreclosed upon in Jacksonville Beach and other failed
investments in Michigan.

Mr. Brunell filed for Chapter 11 on June 25, 2010 (Bankr. M.D.
Fla. Case No. 10-05550).  In court papers, he listed $5.5 million
in assets and debts of $24.7 million.


MOMENTIVE PERFORMANCE: Bank Debt Trades at 8% Off
-------------------------------------------------
Participations in a syndicated loan under which Momentive
Performance Materials, Inc., is a borrower traded in the secondary
market at 92.15 cents-on-the-dollar during the week ended Friday,
July 30, 2010, an increase of 2.21 percentage points from the
previous week, according to data compiled by Loan Pricing Corp.
and reported in The Wall Street Journal.  The Company pays 250
basis points above LIBOR to borrow under the facility.  The bank
loan matures on Dec. 5, 2013, and carries Moody's B1 rating and
Standard & Poor's CCC+ rating.  The loan is one of the biggest
gainers and losers among 193 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

Momentive Performance Materials, Inc., is a producer of silicones
and silicone derivatives, and is engaged in the development and
manufacture of products derived from quartz and specialty
ceramics.  As of Dec. 31, 2008, the Company had 25 production
sites located worldwide, which allows it to produce the majority
of its products locally in the Americas, Europe and Asia.
Momentive's customers include companies in industries, such as
Procter & Gamble, 3M, Goodyear, Unilever, Saint Gobain, Motorola,
L'Oreal, BASF, The Home Depot and Lowe's.

As of June 28, 2009, Momentive had $3.41 billion in total assets
on $3.96 billion in total liabilities, resulting in $551.8 billion
in stockholders' deficit.

The Troubled Company Reporter said September 28, 2009, that
Standard & Poor's Ratings Services placed all its ratings on
Momentive Performance Materials and its subsidiaries on
CreditWatch with positive implications, including the 'CCC-'
corporate credit rating on Momentive Performance Materials.  S&P
believes it is likely that the waiver, together with improving
operating performance, significantly reduces the likelihood of a
near-term covenant breach.  Quarterly EBITDA has been climbing
steadily since reaching a low of about $15 million (as calculated
for bank covenant purposes) in the first quarter of 2009.  It was
$64 million in the second quarter, and management expects it to be
between $84 million and $94 million in the third quarter.


MXENERGY HOLDINGS: Consummates Debt & Equity Restructuring
----------------------------------------------------------
MXenergy Holdings Inc. consummated a debt and equity restructuring
on September 22, 2009.  In connection with the Restructuring, the
Company entered into an agreement with certain stockholders.  The
Stockholders Agreement contains customary provisions including
provisions relating to certain approval rights, preemptive rights,
restrictions on transfer, rights of first refusal, tag-along
rights, drag-along rights and other customary provisions.

On July 26, 2010, the Company entered into Amendment No. 1 to the
Stockholders Agreement pursuant to which the definition of
"Prohibited Transaction" in Section 3.1 of the Stockholders
Agreement was amended to remove the prohibition against transfers
of certain equity securities that would result in the Company's
meeting the stock ownership requirement of Section 542(a)(2) of
the U.S. Internal Revenue Code of 1986, as amended.

On July 27, 2010, the third amended and restated certificate of
incorporation and the fourth amended and restated bylaws of the
Company became effective.

The Certificate of Incorporation authorizes 200,000,000 shares of
Common Stock, consisting of 50,000,000 shares of Class A Common
Stock, 10,000,000 shares of Class B Common Stock, 40,000,000
shares of Class C Common Stock and 100,000,000 shares of Class D
Common Stock.  The Certificate of Incorporation and the Bylaws
contain customary provisions including provisions relating to
certain approval rights, preemptive rights, restrictions on
transfer, rights of first refusal, tag-along rights, drag-along
rights and other customary provisions.  The Certificate of
Incorporation, among other things, adjusts director and committee
member compensation, reduces the number of committees of the board
of directors and revises the definitions of "Financial Expert" and
"Independent Director."

Specifically, effective as of January 1, 2010, the Company will
pay each Independent Director a retainer of $50,000 per year, a
retainer of $10,000 year for serving on the executive,
compensation and governance committee, a retainer of $10,000 year
for serving on the risk oversight committee and a retainer of
$12,000 per year for serving on the audit committee.  The chairman
of each of the executive, compensation and governance committee
and the risk oversight committee will receive an additional
retainer of $5,000 per year, and the chairman of the audit
committee will receive an additional retainer of $3,000 per year.
The Chairman of the board of directors, if he or she is an
independent director, will receive an additional retainer of
$25,000 per year.  In addition, the Company will issue equity
securities, pursuant to a management equity plan, as follows:

   i) each Independent Director will receive equity securities
      with a value of $25,000 per year; and

  ii) the Chairman of the board of directors, if the Chairman is
      an Independent Director, will receive an additional annual
      issuance of equity securities with a value of $25,000 per
      year.

The Company also will pay each Independent Director $2,000 for
attendance in person at each regular or special board meeting or
committee meeting and $500 for attendance by telephone at each
regular or special board or committee meeting.  Any adjustment to
director compensation will be subject to the approval of the
stockholders of the Company.

The Certificate of Incorporation also reduces the number of
required committees of the board of directors from five to three
by combining the former executive committee, compensation
committee and governance committee into one committee.   The board
of directors will have the following three standing committees
whose membership will be determined by the board of directors: an
executive, compensation and governance committee, an audit
committee and a risk oversight committee.  A majority of the
directors serving on each board of directors committee will be
Class A Directors.  Subject to satisfaction of the qualification
requirements, the executive, compensation and governance committee
will also include at least the Class B Director and at least one
Class C Director and the audit committee will include at least one
Class C Director, subject to applicable committee membership
requirements, if any.

The Certificate of Incorporation revises the definition of
"Financial Expert" to mean a director who, as determined by the
board of directors, has the attributes of an "audit committee
financial expert" as defined in Item 407(d)(5) of Regulation S-K
promulgated under the Securities Exchange Act of 1934, as amended.
The Certificate of Incorporation also revises the definition of
"Independent Director" to mean a director who, as determined by
the board of directors, has no material relationship with the
Company and has no current or prior relationship with the Company,
any holder of shares of Common Stock or any member of management
of the Company that might cause such director to act other than
entirely independently with respect to all issues that come before
the board of directors.

The Bylaws revise the notice of board of directors meetings
required to permit delivery of such notice to directors via
facsimile or electronic transmission and remove the requirement
that such notices be confirmed by a subsequent written notice
delivered via overnight mail.

On June 21, 2010, the Company commenced a written consent
solicitation of stockholders, recommending a vote in favor of the
adoption of the Certificate of Incorporation, Bylaws and Amendment
No. 1 to the Stockholders Agreement.  Final results from the
consent solicitation, tabulated as of July 26, 2010, indicate that
the Company received more than the requisite number of consents to
approve and adopt the Certificate of Incorporation, Bylaws and
Amendment No. 1 to the Stockholders Agreement.

Specifically, as of July 26, 2010, 41,419,000 shares representing
76.5% of the 54,126,351 total shares of issued and outstanding
Common Stock were voted in favor of the proposed Certificate of
Incorporation, Bylaws and Amendment No. 1 to the Stockholders
Agreement, 24,547,593 shares representing 72.8% of the 33,710,902
total shares of issued and outstanding Class A Common Stock were
voted in favor of the proposed Certificate of Incorporation,
Bylaws and Amendment No. 1 to the Stockholders Agreement,
4,002,290 shares representing 100% of the 4,002,290 total shares
of issued and outstanding Class B Common Stock were voted in favor
of the proposed Certificate of Incorporation, Bylaws and Amendment
No. 1 to the Stockholders Agreement and 12,869,117 shares
representing 78.4% of the 16,413,159 total shares of issued and
outstanding Class C Common Stock were voted in favor of the
proposed Certificate of Incorporation, Bylaws and Amendment No. 1
to the Stockholders Agreement.

A full-text copy of the Third Amended and Restated Certificate of
Incorporation is available for free at:

               http://ResearchArchives.com/t/s?6758

A full-text copy of the Fourth Amended and Restated Bylaws is
available for free at:

               http://ResearchArchives.com/t/s?6759

A full-text copy of the Amendment No. 1 to the Stockholders
Agreement is available for free at:

               http://ResearchArchives.com/t/s?675a

                      About MXenergy Holdings

MXenergy Holdings Inc. was founded in 1999 as a retail energy
marketer.  The two principal operating subsidiaries of Holdings
are MXenergy Inc. and MXenergy Electric Inc. which are engaged in
the marketing and supply of natural gas and electricity,
respectively.  Holdings and its subsidiaries operate in 39 market
areas located in 14 states in the United States and in two
Canadian provinces.

The Company's balance sheet at March 31, 2010, showed
$221.4 million in total assets and $134.1 million in total
liabilities, for a $87.3 million total stockholders' equity.

Mxenergy carries Caa3 long term corporate family and Ca/LD
probability of default ratings from  Moody's Investors Service.


MYLAN INC: Moody's Rates Senior Unsecured Note Offering at 'B1'
---------------------------------------------------------------
Moody's Investors Service said that there is no impact on the
ratings or outlook of Mylan Inc. following the announcement that
Mylan would offer $300 million of senior notes as an add-on to its
$1.25 billion senior unsecured note offering of May 2010.  Moody's
rates the senior unsecured notes B1.  Mylan's Corporate Family
Rating remains Ba3, and the rating outlook remains positive.

Moody's last rating action on Mylan took place on May 5, 2010,
when Moody's assigned a B1 rating to Mylan's new senior notes, and
upgraded Mylan's senior secured bank ratings to Ba1 from Ba2.

Headquartered in Canonsburg, Pennsylvania, Mylan Inc. is a
specialty pharmaceutical company.  In 2009 Mylan reported total
revenues of approximately $5.1 billion.


NEENAH ENTERPRISES: Successful Emerges From Bankruptcy
------------------------------------------------------
Neenah Enterprises, Inc., has successfully emerged from bankruptcy
under new equity ownership.  Earlier this month, NEI received
confirmation of its Plan of Reorganization from the U.S.
Bankruptcy Court in Wilmington, Delaware.  Upon emergence, the
Company has reduced its debt by more than $270 million.

In connection with its exit from bankruptcy, the Company has also
transitioned to a new executive management team.  Richard D.
Caruso, a Managing Director for Huron Consulting Services, LLC
("Huron"), will serve as Acting Chief Executive Officer of the
Company, and Brent E. Johnson of Huron will serve as Acting Chief
Financial Officer of the Company.  Mr. Caruso has served as Chief
Restructuring Advisor to the Company since it filed for bankruptcy
in February, 2010 and has over 25 years of experience in the
metals, manufacturing and construction industries.  Korn Ferry
International, a leading executive recruiting firm, has been
retained to assist the Company in hiring permanent successors to
Mr. Caruso and Mr. Johnson.

"We are pleased to have emerged from Bankruptcy in less than six
months," said Rich Caruso.  "Neenah's reputation, strong
workforce, customers and vendor community were a critical aspect
to formulating a Plan of Reorganization that greatly enhances our
competitive position."

In connection with its restructuring, the Company's secured and
subordinated term debt was converted into equity, providing the
Company with a significantly improved balance sheet.

NEI was advised through its bankruptcy by Sidley Austin LLP as its
lead counsel, Rothschild, Inc. as investment bank and financial
advisor, and Huron as its restructuring advisors.  NEI's secured
bondholders and new equity owners were advised by Stroock &
Stroock & Lavan LLP as counsel and Moelis & Company as its
investment banker and financial advisor.

On February 3, 2010, NEI and its subsidiaries filed voluntary
petitions for reorganization under Chapter 11 of the U.S.
Bankruptcy Code in the United States Bankruptcy Court for the
District of Delaware in order to consummate a balance sheet
restructuring while providing 100% recoveries to its suppliers and
vendors.

                     About Neenah Enterprises

Headquartered in Neenah, Wisconsin, Neenah Enterprises, Inc. --
http://www.nfco.com/-- is the indirect parent holding company of
Neenah Foundry Company. Neenah Foundry Company and its
subsidiaries manufacture and market a wide range of iron castings
and steel forgings for the heavy municipal market and selected
segments of the industrial markets.  Neenah is one of the largest
independent foundry companies in the United States, with
substantial market share in the municipal and various industrial
markets for gray and ductile iron castings and forged steel
products.

The Company filed for Chapter 11 bankruptcy protection on
February 3, 2010 (Bankr. D. Del. Case No. 10-10360).  Edmon L.
Morton, Esq., and Kenneth J. Enos, Esq., assist the Company in its
restructuring effort.  The Company had $286,611,000 in total
assets against total liabilities of $449,435,000, resulting in
stockholder's deficit of $162,824,000.

The Company's affiliates -- NFC Castings, Inc.; Neenah Foundry
Company; Cast Alloys, Inc.; Neenah Transport, Inc.; Advanced Cast
Products, Inc.; Gregg Industries, Inc.; Mercer Forge Corporation;
Deeter Foundry, Inc.; and Dalton Corporation -- filed separate
Chapter 11 petitions.


NEWARK GROUP: Obtains Court Approval of Prepackaged Plan
--------------------------------------------------------
The Newark Group, Inc. has obtained court approval of its
prepackaged plan of reorganization.  The plan was approved by the
U.S. Bankruptcy court in Newark, New Jersey just 51 days after
commencement of the case.  The Company expects to exit Chapter 11
in mid- August.

The Company's two impaired creditor classes voted in favor of the
plan by greater than 90%.  Likewise, the Company's two impaired
classes of equity interests also voted in favor of the plan by
greater than 90%.  Thus, the Company entered Chapter 11 with a
fully supported prepackaged plan.  Shortly thereafter, the Company
closed on its two DIP loans, a $50 million revolver and a $110
million term loan led by ORIX Finance.

"We are pleased to have the continued support of our note holders
and lenders as we move forward to strengthen our balance sheet for
sustainable growth," said Robert Mullen, President and Chief
Executive Officer of The Newark Group, Inc.  "Throughout this
process, we have maintained our focus on customers and we remain
the same company with no change in facilities or capacities. We
appreciate the support and commitment we have received from our
stakeholders, and are excited about our future."

                       About Newark Group

Cranford, New Jersey-based The Newark Group, Inc., manufactures
and sells recycled paperboard and paperboard products.  The
company operates in three segments: Paperboard, Converted Products
and International.

The Company, along with affiliates, filed for Chapter 11
bankruptcy protection on June 9, 2010 (Bankr. D. N.J. Case No. 10-
27694).  Kenneth Rosen, Esq., at Lowenstein Sandler, assists the
Company in its restructuring effort.

Jefferies & Company is the Company's investment banker.
AlixPartners LLP is the Company's restructuring financial
advisors.  Deloitte & Touche LLP is the Company's accounting
Advisors.  Kurtzman Carson & Consultants LLC is the Company's
claims, balloting & noticing agent.

The Company estimated its assets and debts at $100,000,001 to
$500,000,000.


NEXCEN BRANDS: Faces Class Action Lawsuit in NY Supreme Court
-------------------------------------------------------------
NexCen Brands Inc., members of the Company's board of directors
and management and Global Franchise Group LLC and its parent
entity have been named as defendants in a purported class action
lawsuit brought in the Supreme Court of the State of New York and
captioned Soheila Rahbari v. NexCen Brands, Inc., et al., Index
No. 651063/2010.

The complaint was served on the Company on July 26, 2010.  The
complaint alleges, among other things, that certain of the
Company's directors and officers breached their fiduciary duties
of candor, loyalty, due care, independence, good faith and fair
dealing in connection with the proposed sale of the Company's
franchise business assets to GFG.  Among other things, the
plaintiff seeks an injunction prohibiting the consummation of the
sale of the Company's franchise business assets.

On July 28, 2010, the Company removed the lawsuit to the United
States District Court for the Southern District of New York.  The
Company believes the claims asserted in the complaint are without
merit and intends to vigorously defend against this action.

                       About NexCen Brands

Based in New York, NexCen Brands, Inc. (PINK SHEETS: NEXC.PK) is a
strategic brand management company with a focus on franchising.
It owns a portfolio of franchise brands that includes two retail
franchise concepts: TAF(TM) and Shoebox New York(R) as well as
five quick service restaurant franchise concepts: Great American
Cookies(R), MaggieMoo's(R), Marble Slab Creamery(R),
Pretzelmaker(R) and Pretzel Time(R).  The brands are managed by
NexCen Franchise Management, Inc., a subsidiary of NexCen Brands.

At September 30, 2009, the Company had total assets of=20
$103,027,000 against total liabilities of $151,536,000, resulting
in stockholders' deficit of $48,509,000.  At September 30, 2009,
the Company's accumulated deficit was $2,732,199,000.

In its financial report on Form 10-Q for the quarter ended
September 30, 2009, the Company said its "financial condition and
liquidity raise substantial doubt about our ability to continue as
a going concern."  According to the Company, "We are highly
leveraged; we have no additional borrowing capacity under our
credit facility; and the [Credit Facility with BTMU Capital
Corporation] imposes restrictions on our ability to freely access
the capital markets.  In addition, the BTMUCC Credit Facility
imposes various restrictions on our use of cash generated by
operations."


NGPL PIPECO: Moody's Downgrades Senior Unsec. Ratings to 'Ba1'
--------------------------------------------------------------
Moody's Investors Service downgraded NGPL PipeCo LLC's senior
unsecured debt ratings to Ba1 from Baa3.  Moody's also assigned a
Loss Given Default Rating of LGD 4 - 50% to the Ba1 notes, a
Corporate Family Rating of Ba1, a Probability of Default Rating of
Ba1, and a Speculative-Grade Liquidity Rating of SGL-3.  The
rating outlook is stable.  These rating actions complete a review
for downgrade initiated on May 14, 2010, and follow the company's
recent rate settlement which resulted from the Federal Energy
Regulatory Commission's Section 5 investigation into the rates of
Natural Gas Pipeline of America (Natural), the company's principal
subsidiary.

"As a result of this settlement, NGPL's cash flows will step down,
resulting in a significant reduction in debt coverage and
financial flexibility over the next few years," said Moody's Vice
President Mihoko Manabe.

The FERC has not yet given its final order, but the settlement is
unopposed by the parties involved.  The settlement lowers maximum
allowed transportation and storage rates and fuel retention
factors, which includes fuel and gas lost and unaccounted for.
Under the new rates, Natural's margins will decrease overall, but
most dramatically in the operational sales of the net fuel the
pipeline collected under its old fuel retention factors.
Operational sales under the old rates historically accounted for
roughly a fifth to a third of Natural's margins, which helped to
prompt the Section 5 investigation.

Rates will be reduced in phases over the coming year.  Based on
the rates that were in effect as of April 2010, the fuel retention
factors will be decreased by 30% as of July 1, 2010, and by
another 15% as of June 30, 2011.  Natural's transportation rates
will decrease by 3% as of November 1, 2010, by another 2% on April
1, 2011, and a further 3% as of July 1, 2011.  Storage rates will
decrease by 3% on November 1, 2010.  These rate changes will only
affect contracts under maximum allowed tariff rates.  Contracts
that are discounted from the new maximum rate as well as those
that are negotiated (about a third of existing contracts) will not
be affected by the settlement, but as those contracts roll over,
they could also reflect lower rates.

Moody's notes that Natural faces some large contract expirations
in 2013 including those with Nicor, its largest shipper.
Natural's contract terms have gotten shorter over the last few
years, with the average transportation contract term of
approximately 2 years and average storage contract term of
approximately 4 years, in part reflecting the relatively short
time left on the Nicor contract.  The shorter tenors also suggest
that certain marketing-oriented shippers are shortening their
contracts while they await better basis spreads and weigh their
growing gas supply options.  Natural's average contract life is
much shorter than the current 8 year average for Moody's peer
group of pipelines.  Also around year-end 2012, the company faces
substantial refinancing risk as $1.25 billion of its current
$3 billion of debt comes due.

NGPL expects that the rate reductions from the settlement alone
could decrease future pre-interest, after-tax cash flow by
approximately $25 to $70 million as they are phased in over the
coming year.  The first full year under the rate settlement will
be in 2012.  These decreases equate to 7% and 21%, respectively,
of NGPL's reported funds flow from operations of $317 million for
the last twelve months ended March 2010.  Cash flows could be
further eroded over time from contracts not directly impacted by
the settlement that could be renewed at lower rates.  Against some
$3 billion of long-term debt, Moody's estimates that NGPL's funds
flow from operations-to-debt ratio, could decline from the 10.5%
in the last twelve months ended March 2010 to the 8% range if
funds flow from operations were to decrease in the 20% range.
Moody's considers this ratio to be too leveraged for investment
grade, even if it is supported by a relatively stable asset like
Natural.

For the last twelve months ended March 2010, earnings before
interest, taxes, and depreciation (EBITDA) according to the
covenant calculation under NGPL's revolver was $643 million,
resulting in a debt-to-EBITDA ratio of 4.7 times, which is
significantly under the 5.5 times limit under the covenant.  This
calculation excludes the non-cash pre-tax impairment charge of
$550 million in the March quarter which resulted from the
settlement.  If the March 2010 EBITDA were to decline by 20%,
debt-to-EBITDA would be 5.8 times, exceeding this covenant.
Moody's notes that the risk of such a covenant breach is not
immediate because the EBITDA is calculated on a trailing four
quarters' basis, but the headroom under this covenant will shrink
over the next several quarters.  The stable outlook is based on an
expectation of NGPL renegotiating the financial covenant so as to
avoid a breach.

Despite the challenges of the rate settlement, higher leverage and
less financial flexibility, material upcoming contracting and
refinancing risks, Natural is, in Moody's opinion, still a
substantial asset and a critical piece of natural gas
infrastructure in the Midwest.  The physical integration with its
core utility customers lends a market-pull dynamic that makes its
business risk profile better than those of some other speculative-
grade pipelines that have stronger financial prospects.

Downgrades:

Issuer: NGPL PipeCo.  LLC (Old)

  -- Senior Unsecured Regular Bond/Debenture, Downgraded to Ba1
     from Baa3

Assignments:

Issuer: NGPL PipeCo.  LLC

  -- Probability of Default Rating, Assigned Ba1
  -- Speculative Grade Liquidity Rating, Assigned SGL-3
  -- Corporate Family Rating, Assigned Ba1

Outlook Actions:

Issuer: NGPL PipeCo.  LLC

  -- Outlook, Changed To Stable

Moody's last rating action for the NGPL occurred on May 14, 2010,
when Moody's initiated a review for possible downgrade.

NGPL PipeCo LLC is a holding company for Natural Gas Pipeline
Company of America and other interstate natural gas pipeline
assets.  NGPL is 80% owned by Myria Acquisition LLC and 20% owned
and operated by Kinder Morgan, Inc., based in Houston, Texas.


NORTEL NETWORKS: Ex-Employees Can File Claims Until Oct. 29
-----------------------------------------------------------
Nortel Networks Corp. and its four Canada-based affiliates sought
and obtained an order from the Ontario Superior Court of Justice,
authorizing their former employees to file applications of claims
payment until October 29, 2010.

Former Nortel employees who are in financial constraints due to
illness and ineligibility for pension or employment insurance
benefits are entitled to apply for immediate payments of their
claims.  The payments are considered advances against future
distributions under a plan of compromise or arrangement based on
the claims of those employees.  A mechanism for immediate
payments of those claims was approved by the Canadian Court on
July 30, 2009.

Ernst & Young Inc., the firm appointed to monitor the assets of
NNC and its affiliates, disclosed in its 50th monitor report that
there remains C $636,000 of the C$750,000 that was made available
for payment of claims pursuant to the July 30, 2009 Order.

Ernst & Young said that while those employees who received
payments should also have claims against NNC and its affiliates,
it is not anticipated that any distribution under a plan of
compromise or arrangement will occur in the near term.

                      About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


NORTEL NETWORKS: Has $5.7 Bil. Cash at June 26, Says Monitor
------------------------------------------------------------
Ernst & Young Inc., the firm appointed to monitor the assets of
Nortel Networks Corp. and four of its affiliates that filed for
creditor protection under Canada's Companies' Creditors
Arrangement Act, filed its 50th monitor report with the Ontario
Superior Court of Justice.

The Monitor Report provides updates on the consolidated cash
position and liquidity of NNC and its subsidiaries as of June 26,
2010; actual receipts and disbursements; and cash flow forecast,
among other things.

Ernst & Young noted that as of June 26, 2010, NNC and its
subsidiaries had consolidated cash balance of about $5.7 billion,
including $2.6 billion of total treasury cash.  Their
consolidated cash balance is held globally in various Nortel
units and joint ventures.

As of June 26, 2010, the Nortel companies based in North America
had cash available for operations and post-filing intercompany
settlements of about $967 million compared to a gross cash
position of about $1 billion.  Of this, about $276 million is
held by the Canada-based Nortel units while approximately
$766 million is held by the U.S.-based units.

The administrators of Nortel Networks UK and other foreign-based
units had available cash of approximately $699 million for
operations and post-filing intercompany settlements.  Nortel
entities in Europe, Middle East and Africa that are not in
administration had about $21 million of available cash.
Meanwhile, Nortel entities in the Asia Pacific Region had about
$428 million of available cash for operations and intercompany
settlements.

NETAS, a joint venture in which NNC and its subsidiaries have a
53% stake, had approximately $67 million of cash, of which about
$35 million represents Nortel's proportionate share.

Nortel Networks (CALA) Inc.'s available cash was $90 million as
of June 26, 2010.  Other Nortel units in the Caribbean and Latin
America that are not in bankruptcy had about $45 million of
available cash, which is expected to be used to fund their
domestic operations and intercompany settlements.

                    Divestiture Proceeds

Divesture proceeds of about $3.03 billion are being held in
escrow by various escrow agents, the Monitor Report also reveals.

The funds held in escrow include about $2.8 billion held by
JPMorgan Chase Bank, N.A., until an agreement is reached
regarding allocation of those proceeds to various Nortel legal
entities.  Divestiture proceeds held in escrow by JPMorgan relate
to:

  * $1.010 million from the sale of Code Division Multiple
    Access (CDMA) business and Long Term Evolution (LTE)
    assets;

  * $18 million from the sale of the Layer 4-7 business;

  * $10 million from the sale of the Next Generation Packet
    Core business;

  * $899 million from the sale of Enterprise Solutions
    business; and

  * $627 million from the sale of Optical Networking and Carrier
    Ethernet business.

  * $90 million from the sale of the Global System for Mobile
    assets; and

  * $153 million in proceeds from the sale of Carrier VoIP and
    Application Solutions (CVAS) assets.

                Actual Receipts and Disbursements
                 from March 28 to June 26, 2010

The actual consolidated net cash inflow of NNC and the other
CCAA applicants for the period from March 28 to June 26, 2010,
was $24 million.

Actual net cash flow exceeded forecast by $69.1 million.  The
closing available cash balance was higher than forecast by about
$5.7 million as a result of a favorable foreign exchange
translation on Canadian dollar denominated cash balances due to
the appreciation of the Canadian dollar relative to the U.S.
dollar.  Meanwhile, restricted cash decreased by $5.3 million.

               Cash Flow Forecast for the Period
                  June 27 to October 30, 2010

NNC and the other CCAA applicants, with the assistance of Ernst &
Young, prepared an 18-week cash flow forecast for the period
June 27 to October 30, 2010.

The cash flow forecast indicates that the CCAA applicants will
have total receipts of $301.9 million and total disbursements of
$362.6 million resulting in a net cash outflow of $60.7 million
during the forecast period.

During the forecast period, it is assumed that Nortel Networks
Limited does not make any additional draws pursuant to the NNI
Loan Agreement beyond the $75 million drawn prior to February 1,
2009, and due on December 31, 2010.  The most recent cash payment
in respect of accrued interest occurred in March 2010.

The June 27 forecast includes the next scheduled interest payment
of $3.8 million to be paid in September 2010.

As of June 26, 2010, the CCAA applicants had available cash
balances of about $216.1 million, excluding restricted cash and
unavailable cash of about $59.5 million.

A full-text copy of the 50th Monitor Report is available without
charge at http://bankrupt.com/misc/Nortel50thMonitorReport.pdf

                      About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/--
delivers communications capabilities that make the promise of
Business Made Simple a reality for the Company's customers.  The
Company's next-generation technologies, for both service provider
and enterprise networks, support multimedia and business-critical
applications.  Nortel's technologies are designed to help
eliminate the barriers to efficiency, speed and performance by
simplifying networks and connecting people to the information they
need, when they need it.

Nortel Networks Corp., Nortel Networks Inc., and other affiliated
corporations in Canada sought insolvency protection under the
Companies' Creditors Arrangement Act in the Ontario Superior Court
of Justice (Commercial List).  Ernst & Young was appointed to
serve as monitor and foreign representative of the Canadian Nortel
Group.

The Monitor sought recognition of the CCAA Proceedings in the U.S.
by filing a bankruptcy petition under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10164).  Mary Caloway,
Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney
PC, in Wilmington, Delaware, serves as the Chapter 15 petitioner's
counsel.

Nortel Networks Inc. and 14 affiliates filed separate Chapter 11
petitions on January 14, 2009 (Bankr. D. Del. Case No. 09-10138).
Judge Kevin Gross presides over the case.  James L. Bromley, Esq.,
at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serves as
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  The Nortel Companies related in
a press release that Nortel Networks UK Limited and certain
subsidiaries of the Nortel group incorporated in the EMEA region
have each obtained an administration order from the English High
Court of Justice under the Insolvency Act 1986.  The applications
were made by the EMEA Subsidiaries under the provisions of the
European Union's Council Regulation (EC) No. 1346/2000 on
Insolvency Proceedings and on the basis that each EMEA
Subsidiary's centre of main interests is in England.  Under the
terms of the orders, representatives of Ernst & Young LLP have
been appointed as administrators of each of the EMEA Companies and
will continue to manage the EMEA Companies and operate their
businesses under the jurisdiction of the English Court and in
accordance with the applicable provisions of the Insolvency Act.

Several entities, particularly, Nortel Government Solutions
Incorporated have material operations and are not part of the
bankruptcy proceedings.

As of September 30, 2008, Nortel Networks Corp. reported
consolidated assets of US$11.6 billion and consolidated
liabilities of US$11.8 billion.  The Nortel Companies' U.S.
businesses are primarily conducted through Nortel Networks Inc.,
which is the parent of majority of the U.S. Nortel Companies.  As
of September 30, 2008, NNI had assets of about US$9 billion and
liabilities of US$3.2 billion, which do not include NNI's
guarantee of some or all of the Nortel Companies' about
US$4.2 billion of unsecured public debt.

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


NORTHWEST BANK: Closed; State Bank and Trust Assumes Deposits
-------------------------------------------------------------
NorthWest Bank and Trust of Acworth, Ga., was closed on Friday,
July 30, 2010, by the Georgia Department of Banking and Finance,
which appointed the Federal Deposit Insurance Corporation as
receiver.  To protect the depositors, the FDIC entered into a
purchase and assumption agreement with State Bank and Trust
Company of Macon, Ga., to assume all of the deposits of NorthWest
Bank and Trust.

The two branches of NorthWest Bank and Trust will reopen during
normal business hours as branches of State Bank and Trust Company.
Depositors of NorthWest Bank and Trust will automatically become
depositors of State Bank and Trust Company.  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 NorthWest Bank and
Trust should continue to use their existing branch until they
receive notice from State Bank and Trust Company that it has
completed systems changes to allow other State Bank and Trust
Company branches to process their accounts as well.

As of March 31, 2010, NorthWest Bank and Trust had around
$167.7 million in total assets and $159.4 million in total
deposits.  State Bank and Trust Company did not pay the FDIC a
premium for the deposits of NorthWest Bank and Trust.  In addition
to assuming all of the deposits of the failed bank, State Bank and
Trust Company agreed to purchase essentially all of the failed
bank's assets.

The FDIC and State Bank and Trust Company entered into a loss-
share transaction on $107.6 million of NorthWest Bank and Trust's
assets.  State Bank and Trust Company 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 1-800-591-2916.  Interested parties also can
visit the FDIC's Web site at:

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

The FDIC estimates that the cost to the Deposit Insurance Fund
will be $39.8 million.  Compared to other alternatives, State Bank
and Trust Company's acquisition was the least costly resolution
for the FDIC's DIF.  NorthWest Bank and Trust is the 104th FDIC-
insured institution to fail in the nation this year, and the 11th
in Georgia.  The last FDIC-insured institution closed in the state
was Crescent Bank and Trust Company, Jasper, on July 23, 2010.


NUVEEN INVESTMENTS: Moody's Keeps Ratings, Gives Positive Outlook
-----------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Nuveen
Investments, Inc., and changed the outlook for the ratings to
positive from stable following the company's announcement that it
has entered into an agreement to acquire the long-only assets of
First American Fund Advisors, a subsidiary of US Bancorp (Aa3/P-
1/Neg).

Under the terms of the agreement, Nuveen is offering US Bancorp a
9.5% equity stake in Nuveen Investments, Inc. and $80 million
cash.  The transaction is not contingent on financing and, subject
to regulatory and board approval, is expected to close by
December 31, 2010.

Moody's stated that Nuveen's outlook change reflects improving
fundamentals at Nuveen and expected near-term financial and
longer-term strategic benefits of the FAF Advisors acquisition.
Nuveen has achieved modest improvements in financial performance
over the last three quarters ending March 31 due to a combination
of strong relative investment performance across most products and
positive net flows.  In a moderating operating environment for
asset managers, Moody's expects to see measured improvements in
Nuveen's financial flexibility and added covenant cushion.
Moody's noted that FAF Advisors will significantly enhance
Nuveen's market position as it fills important products gaps and
adds scale to Nuveen's mutual fund business and taxable fixed
income offerings.  Moody's believe Nuveen's ability to retain FAF
Advisors' assets under management will be supported by US
Bancorp's equity stake in Nuveen and the existence of a 5-year
investment services agreement between Nuveen and US Bank Wealth
Management group.

Moody's positive outlook is tempered by uncertainty surrounding a
recently-filed shareholder lawsuit against Nuveen and its
potential impact on the company given the relative importance of
the closed-end fund business to Nuveen overall.  At a minimum,
Moody's believe the lawsuit will be a distraction to management.

Overall, Moody's still views Nuveen's leverage as clearly
excessive, particularly in the context of elevated market
volatility.  The Caa1 corporate family rating incorporates a high
potential for a modest capital restructuring.

Nuveen's ratings could be upgraded if uncertainty around the
shareholder suit is removed, the company can sustain positive
financial performance momentum and it successfully integrates FAF
Advisor's long-term business and benefits from near-term capture
of expected cost synergies.

Ratings affirmed include:

  -- Corporate Family Rating of Caa1;

  -- Senior secured $250 million, revolver due 2013 at B3

  -- Senior secured $2,087 million, term loan due 2014 at B3

  -- Senior secured $500 million, 2nd lien term loan due 2015 at
     Caa2

  -- Senior unsecured $785 million, notes due 2015 at Caa3

  -- Senior unsecured $300 million, notes due 2015 at Caa3

  -- Senior unsecured $146 million, notes due 2010 at Caa3

Nuveen Investments, Inc., headquartered in Chicago, is a US-
domiciled holding company whose subsidiaries provide investment
management products and services to retail and institutional
investors predominantly in the US.  The company's assets under
management were $150.2 billion as of June 30, 2010.

The last rating action was on July 8, 2009, when the Caa1
corporate family rating and debt ratings of Nuveen Investments,
Inc. were affirmed and a rating of Caa2 was assigned to a new
second-lien senior secured term loan.


OKIE DOKIE: Case Summary & 14 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Okie Dokie, Inc.
        1350 Okie Street, N.E.
        Washington, DC 20002

Bankruptcy Case No.: 10-00747

Chapter 11 Petition Date: July 27, 2010

Court: United States Bankruptcy Court
       District of Columbia (Washington, D.C.)

Judge: S. Martin Teel, Jr.

Debtor's Counsel: Kim Yvette Johnson, Esq.
                  Law Offices of Kim Y. Johnson
                  P.O. Box 643
                  Laurel, MD 20725
                  Tel: (443) 838-3614
                  Fax: (410) 332-8033
                  E-mail: kimyjcounsel@aol.com

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

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

A list of the Company's 14 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/dcb10-00747.pdf

The petition was signed by Marc S. Barnes, president.


OPUS SOUTH: Opus Corp. Seeks to Enjoin California Lawsuit
---------------------------------------------------------
Opus Corporation, Gerald Rauenhorst 1982 Irrevocable Trust F/B/O
Grandchildren, Gerald Rauenhorst 1982 Irrevocable Trust F/B/O
Children, Keith P. Bednarowski, individually, Luz Campa,
individually, and Mark Rauenhorst, individually, ask Bankruptcy
Judge Hale for the Northern District of Texas to enforce the
terms of the Opus West Debtors' Joint Chapter 11 Plan of
Liquidation.

Opus Corp., et al., specifically ask the Bankruptcy Court to
enforce the Plan injunction on certain Opus West creditors known
as the "Hill Plaintiffs" who recently filed a lawsuit against
them in the U.S. District Court for the Central District of
California, Santa Ana Division.

Donald R. Rector, Esq., at Glast Phillips & Murray P.C., in
Dallas, Texas, asserts that the filing of the California Lawsuit
is a contravention of the rights of the "Surviving Officer" and
the jurisdiction of the Bankruptcy Court.  He notes that the
Surviving Officer was appointed under the Opus West Plan to have
the exclusive right of pursuing all causes of action on behalf of
Opus West's estates.

"In an attempt to avoid [the Bankruptcy] Court's authority and
supplement their own recoveries at the expense of similarly
situated creditors, certain Opus West Creditors filed a Complaint
on June 29, 2010, [in a California District Court] based on the
same alleged fraudulent transfer claims that are being pursued by
the Surviving Officer before [the Bankruptcy] Court," Mr. Rector
contends.

The Transfers being pursued by the Surviving Officers are the
subject of an adversary complaint filed by Opus West and the
Surviving Officer against the Opus Corp. Parties and certain
additional parties for transfers made by Opus West to Opus Corp.
between 2006 and 2008.  The Surviving Officer, under the
Adversary Complaint, alleged that the Transfers were fraudulent
and sought to recover the Transfers for the benefit of Opus
West's estates.

Mr. Rector asserts that to allow the Hill Plaintiffs to prosecute
the California Lawsuit would not only violate the Bankruptcy
Court's order and the terms of the confirmed Opus West Plan, but
would contravene long-established policies under the Bankruptcy
Code relating to equality of distribution among all creditors.

The Hill Plaintiffs are composed of former employees of Opus
West, except Sara Gordon, whose claim is based on amounts owed to
her as part of a divorce settlement with James Fritcher.  The
Hill Plaintiffs consist of:

  -- Jefferson Hill,
  -- Tom Roberts,
  -- Paul Marshall,
  -- Thomas Schaal, Jr.,
  -- Charles Vogel,
  -- John Greer,
  -- Claire Janssen,
  -- Daniel Haug,
  -- Matthew Montgomery,
  -- James Fritcher,
  -- Sara Gordon,
  -- Don Little, Jr.,
  -- Greg Wattson,
  -- Jeffrey Dickerson,
  -- Randy Ackerman, and
  -- Jeff Roberts.

The California Lawsuit contains 11 causes of action, all of which
are predicated on the Transfers.  Four of the causes of action
seek to set aside the Transfers as alleged fraudulent transfers.
The remaining seven causes of action are based on various
theories of conspiracy, intentional interference with contract,
negligent interference with contract, violation of the California
Business & Professions Code, conversion, intentional interference
with prospective economic advantage, and the Racketeer Influenced
and Corrupt Organizations Act.  Mr. Rector asserts that the basis
for the harm alleged in each of the claims is the Transfers being
alleged as fraudulent transfers.

A full-text copy of the California Complaint is available for
free at http://bankrupt.com/misc/OpWCalComp.pdf

The Surviving Officer is already pursuing recovery of the
Transfers as alleged fraudulent transfers in the Opus West
Adversary Proceeding, Mr. Rector reiterates.  He expounds that
none of the Hill Plaintiffs' claims are causes of action that are
independent from the Surviving Officer's causes of action before
the Bankruptcy Court.

                    Hill Plaintiffs Respond

On behalf of the Hill Plaintiffs, Greg K. Hafif, Esq., in
Claremont, California, asserts that the dispute between his
clients and the Opus Corp. Parties is a dispute between third
parties, thus the administration of the Opus West Debtors'
estates will not be affected.

Mr. Hafif contends that the pension funds at issue in the
California Lawsuit belong to the Hill Plaintiffs and are not
assets of the bankruptcy estates of the Opus West Debtors.

The Hill Plaintiffs are seeking to recover pension funds,
totaling $32,430,098.

For these reasons, the Hill Plaintiffs ask the Court to deny the
Opus Corp. Parties' request.

                    Opus Corp. Parties Answer

The Opus Corp. Parties assert that only the Bankruptcy Court has
jurisdiction to solve the dispute because the Parties' arguments
require interpretation of the Plan and the Confirmation Order,
which the Bankruptcy Court retained exclusive jurisdiction.

Mr. Rector contends that the California Complaint contains
multiple factual inaccuracies that the Opus Corp. Parties dispute
but did not address in the request because they were outside the
scope of the request.

"But the Opus West Employees' attempts to mislead [the Bankruptcy
Court] now compel the Opus Corp. Parties to correct some of these
inaccuracies," Mr. Rector says.

Specifically, the Opus West Employees' claims that the amounts
they are seeking to recover from the Opus Corp. Parties are
"pension funds" are patently false, as shown in Debtor Opus West
Corporation's Statement of Financial Affairs, its list of
unsecured creditors, and the proofs of claim filed by the Opus
West Employees, Mr. Rector reveals.

Opus West had one qualified pension plan, which it listed in its
Statement of Financial Affairs: the Opus Retirement Savings Plan.
As a retirement plan subject to the Internal Revenue Code, the
funds in the Pension Plan are set aside in trust for its
beneficiaries.  According to Mr. Rector, the Pension Plan is
fully funded and the Opus West Employees have not asserted any
claims with respect to the Pension Plan.

The Opus West Employees attempt to confuse the Bankruptcy Court
into believing that the unfunded, non-qualified programs cited in
the California Complaint are fully funded and qualified pension
plans, like the Pension Plan, Mr. Rector argues.  "Opus West did
not -- and was not required to -- set aside funds in trust for
the programs," he says.

For this reason also, the Hill Plaintiffs cannot pursue the
alleged fraudulent transfers, Mr. Rector contends.  He expounds
that the Hill Plaintiffs' arguments fail because: (i) the Opus
West Employees are not owed any "pension funds," and (ii) the
alleged fraudulent transfers between Opus West and Opus Corp.
that they seek to recover were transfers of annual profits and
tax payments.

Accordingly, the Opus Corp. Parties ask the Bankruptcy Court to
grant their request.

                   Hill Plaintiffs Talk Back

Mr. Hafif says that in order for the Bankruptcy Court to reach a
decision, it needs to ask the question of who owns the pension
funds?  The Hill Plaintiffs claim they do, while the Opus Corp.
Parties claim that Opus West owns the pension funds.

The Bankruptcy Court does not have subject-matter jurisdiction
over the pension plans because they are not assets of Opus West's
bankrupt estate, Mr. Hafif reiterates.  He adds that the pension
plan dispute exists independent of the bankruptcy environment
because the pension funds belong to the Hill Plaintiffs pursuant
to the federal Employee Retirement Income Security Act and do not
belong to Opus West's estate.

"Moreover, this dispute cannot simply be transferred to the
district court judge in Dallas for his opinion, after the case
has been filed in Santa Ana, California, because that would be
the same as forum shopping," Mr. Hafif argues.  He adds that "the
Opus Corp. Parties have a forum and can raise these arguments in
Santa Ana as part of their answer or motion to dismiss."

The Hill Plaintiffs also notes that employee wage deductions
intended as ERISA plan contributions are "plan assets,"
regardless of whether the money is ever in fact conveyed in
relation to the plan.

                         *     *     *

With regard to the Hill Plaintiffs' argument that the Bankruptcy
Court lacks jurisdiction to interpret the Plan and the injunction
provided therein, Judge Hale does not find the argument
persuasive because interpretation of the Plan is a matter arising
under the Bankruptcy Code and is therefore within the Bankruptcy
Court's core jurisdiction.

The Bankruptcy Court ruled that certain claims subject to the
California Lawsuit are, at heart, fraudulent transfer claims so
as to be covered by the Plan and Confirmation Order, which are
property of the Opus West estate and must be pursued for the
benefit of all creditors.

For this reason, the Hill Plaintiffs are enjoined from pursuing
the Opus Corp. Parties certain causes of action related to the
Transfers, the Bankruptcy Court held.

However, with regard to claims that the Opus Corp. Parties
intentionally and negligently interfered with contracts,
violation of the California Business Code, and violated the RICO,
the Bankruptcy Court opined that the Plan and the Confirmation
Order do not affect the Hill Plaintiffs' rights to bring the
claims.  The Bankruptcy further held that the RICO claim is not
property of the Opus West estate.

                    About Opus West Corporation

Based in Phoenix, Arizona, Opus West Corporation is a full-service
real estate development firm that focuses on acquiring,
constructing, operating, managing, leasing and/or disposing of
real estate development projects primarily located in the western
United States.

Opus West and its affiliates filed for Chapter 11 on July 6, 2009
(Bankr. N.D. Tex. Case No. 09-34356).  Clifton R. Jessup, Jr., at
Greenberg Traurig, LLP, represents the Debtors in their
restructuring efforts.  Franklin Skierski Lovall Hayward, LLP, is
co-counsel to the Debtors. Pronske & Patel, P.C., is conflicts
counsel.  Chatham Financial Corp. is financial advisor.  BMC Group
is the Company's claims and notice agent.  As of May 31, Opus West
-- together with its non-debtor affiliates -- had $1,275,334,000
in assets against $1,462,328,000 in debts.  In its bankruptcy
petition, Opus West said it had assets and debts both ranging from
$100 million to $500 million.

Opus West joins affiliates that previously filed for bankruptcy.
Opus East LLC, a real estate operator from Rockville, Maryland,
commenced a Chapter 7 liquidation on July 1 in Delaware.  Opus
South Corp., a Florida condominium developer based in Atlanta,
filed a Chapter 11 petition April 22 in Delaware.

Bankruptcy Creditors' Service, Inc., publishes Opus West
Bankruptcy News.  The newsletter tracks the separate Chapter 11
proceedings of Opus West Corp. and Opus South Corp. and their
related debtor-affiliates. (http://bankrupt.com/newsstand/
or 215/945-7000).


OPUS SOUTH: Waters Edge Trustee Begins Omnibus Claims Objections
----------------------------------------------------------------
Executive Sounding Board Associates, Inc., in its capacity as
trustee of the Waters Edge Liquidation Trust, asks the U.S.
Bankruptcy Court for the District of Delaware to:

  (a) expunge eight claims for which Waters Edge One, L.L.C.,
      has no liability;

  (b) reassign 13 claims that were filed against the wrong
      Debtor entity;

  (c) disallow a late claim filed by Blackbox Network Services;
      and

  (d) expunge Claim Nos. 11 and 15 filed by Blume Mechanical LLC
      and Merit Professional Coatings because they are
      duplicates of previously filed claims.

A list of Disputed Claims subject to the Liquidation Trustee's
First Omnibus Claims Objection is available for free at:

         http://bankrupt.com/misc/WatE_1stOmCJul27.pdf

                         About Opus South

Headquartered in Atlanta, Georgia, Opus South Corporation --
http://www.opuscorp.com/-- provides an array of real estate
related services across the United States including real estate
development, architecture & engineering, construction and project
management, property management and financial services.

The Company and its affiliates filed for Chapter 11 on April 22,
2009 (Bankr. D. Del. Lead Case No. 09-11390).  Victoria Watson
Counihan, Esq., at Greenberg Traurig, LLP, represents the Debtors
in their restructuring efforts.  The Debtors propose to employ
Landis, Rath & Cobb, LLP, as conflicts counsel, Chatham Financial
Corporation as real estate broker, Delaware Claims Agency LLC as
claims agent.  The Debtors have assets and debts both ranging from
$50 million to $100 million.

The U.S. Bankruptcy Court for the District of Delaware confirmed
the Chapter 11 Plan of Liquidation filed by Wachovia Bank,
National Association, as administrative agent, and certain lender
parties for Waters Edge One, L.L.C., one of the Opus South
Debtors, on February 18, 2010.

Bankruptcy Creditors' Service, Inc., publishes Opus West
Bankruptcy News.  The newsletter tracks the separate Chapter 11
proceedings of Opus West Corp. and Opus South Corp. and their
related debtor-affiliates. (http://bankrupt.com/newsstand/
or 215/945-7000).


OPUS SOUTH: Waters Edge Submits Post-Confirmation Report for June
-----------------------------------------------------------------
Waters Edge One LLC submitted to the Court a post-confirmation
operating report for the quarter ended June 30, 2010.

The Chapter 11 Plan of Waters Edge was confirmed on February 18,
2010, and was subsequently declared effective on March 1, 2010.

The Post-Confirmation Operating Report reflects cash receipts and
cash disbursements of Waters Edge for the reporting period.

                      Waters Edge One LLC
                  Cash Receipts & Disbursements
              For the quarter ended June 30, 2010

Cash - beginning of period                                   $-

Cash Receipts:
Cash sales                                                   -
Collection of accounts receivable                            -
Proceeds from litigation                                     -
Exit financing                                        $455,758
Unclaimed distributions                                      -
Interest income                                              -
                                                     ----------
Total cash receipts                                   $455,758

Cash Disbursements:
Claims of bankruptcy professionals                        $200
                                                     ----------
Total disbursements                                   $455,358

Cash Balance End of Quarter                                $200
                                                     ==========

                         About Opus South

Headquartered in Atlanta, Georgia, Opus South Corporation --
http://www.opuscorp.com/-- provides an array of real estate
related services across the United States including real estate
development, architecture & engineering, construction and project
management, property management and financial services.

The Company and its affiliates filed for Chapter 11 on April 22,
2009 (Bankr. D. Del. Lead Case No. 09-11390).  Victoria Watson
Counihan, Esq., at Greenberg Traurig, LLP, represents the Debtors
in their restructuring efforts.  The Debtors propose to employ
Landis, Rath & Cobb, LLP, as conflicts counsel, Chatham Financial
Corporation as real estate broker, Delaware Claims Agency LLC as
claims agent.  The Debtors have assets and debts both ranging from
$50 million to $100 million.

The U.S. Bankruptcy Court for the District of Delaware confirmed
the Chapter 11 Plan of Liquidation filed by Wachovia Bank,
National Association, as administrative agent, and certain lender
parties for Waters Edge One, L.L.C., one of the Opus South
Debtors, on February 18, 2010.

Bankruptcy Creditors' Service, Inc., publishes Opus West
Bankruptcy News.  The newsletter tracks the separate Chapter 11
proceedings of Opus West Corp. and Opus South Corp. and their
related debtor-affiliates. (http://bankrupt.com/newsstand/
or 215/945-7000).


OSI RESTAURANT: Bank Debt Trades at 14% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which OSI Restaurant
Partners, Inc., is a borrower traded in the secondary market at
86.25 cents-on-the-dollar during the week ended Friday, July 30,
2010, an increase of 0.84 percentage points from the previous
week, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  The Company pays 225 basis
points above LIBOR to borrow under the facility.  The bank loan
matures on May 9, 2014, and carries Moody's B3 rating and Standard
& Poor's B+ rating.  The loan is one of the biggest gainers and
losers among 193 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

OSI Restaurant Partners, Inc., is the #3 operator of casual-dining
spots (behind Darden Restaurants and Brinker International), with
more than 1,400 locations in the U.S. and 20 other countries.  Its
flagship Outback Steakhouse chain boasts more than 950 locations
that serve steak, chicken, and seafood in Australian-themed
surroundings.  OSI also operates the Carrabba's Italian Grill
chain, with about 240 locations.  Other concepts include Bonefish
Grill, Fleming's Prime Steakhouse, and Cheeseburger In Paradise.
Most of the restaurants are company owned.  A group led by
Chairman Chris Sullivan took the company private in 2007.


PACIFIC CAPITAL: Moody's Reviews 'C' Rating for Possible Upgrade
----------------------------------------------------------------
Moody's Investors Service continued the review for possible
upgrade of the long-term ratings of Pacific Capital Bancorp
(issuer C) and its subsidiary, Pacific Capital Bank, N.A. (bank
financial strength E, long-term deposits Caa1).  This review began
on April 29, 2010.

The extension of the review follows the company's announcement
that it has satisfied the critical closing conditions of its
agreement with SB Acquisition Company LLC, a subsidiary of Ford
Financial Fund, L.P., to receive an equity investment of
$500 million.  The company expects to close the transaction on
August 31, 2010, subject to regulatory approval.

The review remains focused on Pacific Capital's ability to
complete this capital transaction.  Given the definitive exchange
agreement with the U.S. Treasury Department regarding the TARP
preferred stock, the likelihood of completion has increased.
Nonetheless as previously indicated, Moody's does not expect to
complete its ratings review until the investment transaction is
consummated.  Another aspect of the review is how this investment
will influence the strategic direction and franchise of the
company.

The last rating action was on April 29, 2010, when Moody's placed
the long-term ratings on review for possible upgrade.

Pacific Capital Bancorp, which is headquartered in Santa Barbara,
CA, reported total assets of $7.1 billion as of June 30, 2010.


PACIFICA MESA: Files Schedules of Assets & Liabilities
------------------------------------------------------
Pacifica Mesa Studios, LLC, has 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                  $ 54,000,000
B. Personal Property               $ 3,730,151
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                   $80,377,105
E. Creditors Holding
   Unsecured Priority
   Claims                                              $366,163
F. Creditors Holding
   Unsecured Non-priority
   Claims                                           $23,713,688
                                   -----------      -----------
      TOTAL                        $57,730,151     $104,456,956

Agoura Hills, California-based Pacifica Mesa Studios, LLC, dba
Albuquerque Studios and ABQ Studios, filed for Chapter 11
bankruptcy protection on July 20, 2010 (Bankr. C.D. Calif. Case
No. 10-18827).  Steven T. Gubner, Esq., at Ezra Brutzkus & Gubner,
assists the Company in its restructuring effort.


PACIFICA MESA: Gets Court OK to Tap Robert Schmidt as Attorney
--------------------------------------------------------------
Pacifica Mesa Studios, LLC, sought and obtained authorization from
the U.S. Bankruptcy Court for the Central District of California
to employ Robert T. Schmidt at Kramer Levin Naftalis & Frankel LLP
as non-resident attorney to appear in a specific case.

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

The Debtor and Mr. Schmidt didn't disclose how Mr. Schmidt will be
compensated.

Agoura Hills, California-based Pacifica Mesa Studios, LLC, dba
Albuquerque Studios and ABQ Studios, filed for Chapter 11
bankruptcy protection on July 20, 2010 (Bankr. C.D. Calif. Case
No. 10-18827).  Steven T. Gubner, Esq., at Ezra Brutzkus & Gubner,
assists the Company in its restructuring effort.  The Company
listed $50,000,001 to $100,000,000 in assets and $100,000,001 to
$500,000,000 in liabilities.


PACIFICA MESA: Section 341(a) Meeting Scheduled for August 19
-------------------------------------------------------------
The U.S. Trustee for Region 16 will convene a meeting of Pacifica
Mesa Studios, LLC's creditors on August 19, 2010, at 11:00 a.m.
The meeting will be held at RM 105, 21051 Warner Center Lane,
Woodland Hills, CA 91367.

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.

Agoura Hills, California-based Pacifica Mesa Studios, LLC, dba
Albuquerque Studios and ABQ Studios, filed for Chapter 11
bankruptcy protection on July 20, 2010 (Bankr. C.D. Calif. Case
No. 10-18827).  Steven T. Gubner, Esq., at Ezra Brutzkus & Gubner,
assists the Company in its restructuring effort.  The Company
listed $50,000,001 to $100,000,000 in assets and $100,000,001 to
$500,000,000 in liabilities.


PACIFICA MESA: Wants to Hire Ezra Brutzkus as Bankruptcy Counsel
----------------------------------------------------------------
Pacifica Mesa Studios, LLC, etc., has asked for authorization from
the U.S. Bankruptcy Court for the Central District of California
to employ Ezra Brutzkus Gubner LLP as general bankruptcy counsel,
effective as of the Petition Date.

EBG will, among other things:

     a. represent the Debtor in proceedings and hearings in the
        U.S. District and Bankruptcy Courts for the Central
        District of California;

     b. prepare any necessary motions, applications, orders and
        other legal papers;

     c. provide assistance, advice and representation concerning
        the confirmation of an proposed plan(s) and solicitation
        of any acceptances or responding to rejection of the
        plan(s); and

     d. provide assistance, advice and representation concerning
        any investigation of the assets, liabilities and financial
        condition of the Debtor that may be required under local,
        state or federal law.

Steven T. Gubner, managing partner of Ezra Brutzkus, assures the
Court that the firm is "disinterested" as that term is defined in
Section 101(14) of the Bankruptcy Code.

Pacifica Mesa Studios, LLC, dba Albuquerque Studios and ABQ
Studios, is a California limited liability company formed for the
purpose of developing and running a production complex in
Albuquerque, New Mexico.  The Company is owned on a 50/50 basis by
the two members, Harold Katersky and Dana Arnold.

The Company filed for Chapter 11 bankruptcy protection on July 20,
2010 (Bankr. C.D. Calif. Case No. 10-18827).  Steven T. Gubner,
Esq., at Ezra Brutzkus & Gubner, assists the Company in its
restructuring effort.  The Company listed $50,000,001 to
$100,000,000 in assets and $100,000,001 to $500,000,000 in
liabilities.


PAETEC HOLDING: CEO Chesonis Discloses Sale of Shares
-----------------------------------------------------
Arunas A. Chesonis, chairman and CEO of PAETEC Holding Corp.,
disclosed selling 50,300 shares of the Company's common stock on
July 26, 27 and 28.  The shares were sold for between $4 and $4.08
shares.  Following the sale, the CEO may be deemed to directly
hold 7,927,216 shares.

The sales were effected pursuant to a Rule 10b5-1 trading plan.

                       About PAETEC Holding

PAETEC Holding Corp., through its subsidiaries, provides
integrated communications services, including local and long
distance voice, data, and broadband Internet access services,
primarily to business and institutional customers.  On February 8,
2008, PAETEC Holding completed its combination by merger with
McLeodUSA Incorporated, which became a wholly owned subsidiary of
PAETEC Holding upon completion of the merger.

The Company's balance sheet at March 31, 2010, showed $1.4 billion
in total assets and $1.2 billion in total liabilities, for a total
stockholders' equity of $191.9 million.

Effective on June 1, 2009, the Company entered into a Second
Amendment and Waiver to its Credit Agreement with its lenders
which amends the Credit Agreement, dated as of February 28, 2007,
and amended as of June 27, 2007.  The Amendment grants the Company
the right, at its option and subject to specified conditions,
voluntarily to prepay term loans outstanding under its term loan
facilities at any time and from time to time during a period
beginning on the effective date of the Amendment and ending 18
months after such effective date.  The total cash payments to be
made by the Company in connection with such voluntary prepayments
may not exceed $100,000,000, excluding amounts applied to the
payment of accrued and unpaid interest and fees.

The Amendment also modifies some of the restrictive covenants in
the Credit Agreement primarily to permit the Company to issue
senior secured notes and to allow the Company and its subsidiaries
to incur indebtedness and related obligations under such notes if
specified conditions are satisfied.

                           *     *     *

As reported by the Troubled Company Reporter on June 18, 2009,
Standard & Poor's Ratings Services assigned PAETEC Holding's
proposed senior secured notes due 2017 an issue-level rating of
'B' (the same as the corporate credit rating) with a recovery
rating of '3', indicating expectations for meaningful (50%-70%)
recovery in the event of payment default.  At the same time, S&P
affirmed all other ratings on PAETEC, including the 'B' corporate
credit rating.  The outlook is stable.

Moody's Investors Service assigned a B1 rating to the senior
secured note issuance.  Moody's affirmed all other ratings,
including the SGL-1 liquidity rating.  The rating outlook remains
stable.


PENN NATIONAL: Bank Debt Trades at 2% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Penn National
Gaming, Inc., is a borrower traded in the secondary market at
97.79 cents-on-the-dollar during the week ended Friday, July 30,
2010, an increase of 1.18 percentage points from the previous
week, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  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 193 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.


PHARMATHENE INC.: Gives NYSE Amex Listing Compliance Plan Update
----------------------------------------------------------------
PharmAthene, Inc., disclosed that on July 26, 2010 it received a
letter from the NYSE Amex LLC, stating that PharmAthene is not in
compliance with the continued listing standards specified in
Sections 1003(a)(i), (ii) and (iii) of the NYSE Amex Company
Guide, because it has stockholders' equity of less than $2.0
million, $4.0 million and $6.0 million and losses from continuing
operations and/or net losses in two of its three most recent
fiscal years, three of its four most recent fiscal years and its
five most recent fiscal years, respectively.

Under Section 1003(a) of the Company Guide, the NYSE Amex would
not normally consider suspending dealings in, or removing from
listing, the securities of an issuer which is below the minimum
stockholders' equity requirements if the issuer sustains a total
market capitalization of at least $50 million, among other things.
PharmAthene's market capitalization, as defined by NYSE Amex rules
and using the closing share price on July 27, 2010 of $1.45, is
approximately $47.6 million.

The NYSE Amex stated in its letter that in order to maintain its
listing, PharmAthene must submit a plan by August 26, 2010,
addressing how it intends to regain compliance with Sections
1003(a)(i), (ii) and (iii) of the Company Guide by January 26,
2012. If the NYSE Amex accepts the plan, PharmAthene will be able
to continue its listing during such time and will be subject to
continued periodic review by the NYSE Amex staff.  If the plan is
not submitted on a timely basis, is not accepted or is accepted
but PharmAthene does not make progress consistent with the plan
during the plan period, the NYSE Amex could initiate delisting
proceedings. PharmAthene may appeal any delisting determination
before a listings qualifications panel of the NYSE Amex and in
turn request a review of the decision of such panel by the
exchange's Committee on Securities.

PharmAthene intends to prepare and submit its compliance plan to
the NYSE Amex.  PharmAthene expects that its common stock will
continue to trade without interruption on the NYSE Amex; however,
the trading symbol for PharmAthene's common stock will have an
indicator (.BC) as an extension to signify noncompliance with the
continued listing standards, until PharmAthene has regained
compliance.

Eric Richman, PharmAthene's interim Chief Executive Officer,
noted, "The NYSE Amex has not commenced any delisting proceedings
against us and we are fully confident that our plan for continuing
compliance will be adequate and that we will regain compliance
with the affected listing requirements in the future."


POSADA PORLAMAR: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Posada Porlamar Inc.
        fka La Pared Restaurante
        P.O. Box 405
        Lajas, PR 00667

Bankruptcy Case No.: 10-06661

Chapter 11 Petition Date: July 27, 2010

Court: United States Bankruptcy Court
       District of Puerto Rico (Ponce)

Judge: Brian K. Tester

Debtor's Counsel: Victor Gratacos Diaz, Esq.
                  P.O. Box 7571
                  Caguas, PR 00726
                  Tel: (787) 746-4772
                  E-mail: vgratacd@coqui.net

Scheduled Assets: $1,104,425

Scheduled Debts: $3,454,745

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/prb10-06661.pdf

The petition was signed by Rafael Pancorbo Martinez, president.


PAETEC HOLDING: CEO Chesonis Discloses Sale of Shares
-----------------------------------------------------
Arunas A. Chesonis, chairman and CEO of PAETEC Holding Corp.,
disclosed selling 50,300 shares of the Company's common stock on
July 26, 27 and 28.  The shares were sold for between $4 and $4.08
shares.  Following the sale, the CEO may be deemed to directly
hold 7,927,216 shares.

The sales were effected pursuant to a Rule 10b5-1 trading plan.

                       About PAETEC Holding

PAETEC Holding Corp., through its subsidiaries, provides
integrated communications services, including local and long
distance voice, data, and broadband Internet access services,
primarily to business and institutional customers.  On February 8,
2008, PAETEC Holding completed its combination by merger with
McLeodUSA Incorporated, which became a wholly owned subsidiary of
PAETEC Holding upon completion of the merger.

The Company's balance sheet at March 31, 2010, showed $1.4 billion
in total assets and $1.2 billion in total liabilities, for a total
stockholders' equity of $191.9 million.

Effective on June 1, 2009, the Company entered into a Second
Amendment and Waiver to its Credit Agreement with its lenders
which amends the Credit Agreement, dated as of February 28, 2007,
and amended as of June 27, 2007.  The Amendment grants the Company
the right, at its option and subject to specified conditions,
voluntarily to prepay term loans outstanding under its term loan
facilities at any time and from time to time during a period
beginning on the effective date of the Amendment and ending 18
months after such effective date.  The total cash payments to be
made by the Company in connection with such voluntary prepayments
may not exceed $100,000,000, excluding amounts applied to the
payment of accrued and unpaid interest and fees.

The Amendment also modifies some of the restrictive covenants in
the Credit Agreement primarily to permit the Company to issue
senior secured notes and to allow the Company and its subsidiaries
to incur indebtedness and related obligations under such notes if
specified conditions are satisfied.

                           *     *     *

As reported by the Troubled Company Reporter on June 18, 2009,
Standard & Poor's Ratings Services assigned PAETEC Holding's
proposed senior secured notes due 2017 an issue-level rating of
'B' (the same as the corporate credit rating) with a recovery
rating of '3', indicating expectations for meaningful (50%-70%)
recovery in the event of payment default.  At the same time, S&P
affirmed all other ratings on PAETEC, including the 'B' corporate
credit rating.  The outlook is stable.

Moody's Investors Service assigned a B1 rating to the senior
secured note issuance.  Moody's affirmed all other ratings,
including the SGL-1 liquidity rating.  The rating outlook remains
stable.


PENN NATIONAL: Bank Debt Trades at 2% Off in Secondary Market
-------------------------------------------------------------
Participations in a syndicated loan under which Penn National
Gaming, Inc., is a borrower traded in the secondary market at
97.79 cents-on-the-dollar during the week ended Friday, July 30,
2010, an increase of 1.18 percentage points from the previous
week, according to data compiled by Loan Pricing Corp. and
reported in The Wall Street Journal.  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 193 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.


RANGE RESOURCES: Moody's Rates New Senior Notes at 'Ba3'
--------------------------------------------------------
Moody's Investors Service rated Range Resources, Inc.'s new senior
subordinated notes Ba3 (LGD 5,72%).  Moody's also affirmed Range's
Ba2 Corporate Family Rating, the Ba2 Probability of Default
Rating, and the Ba3, LGD 5 (the point estimate is changing to 72%)
rating on the existing senior subordinated notes.  The outlook is
stable.

Proceeds from the new notes will be used to fund the redemption of
the company's $200 million notes due 2013.  Those notes are within
the call period, and Range has announced that it is calling them.
The balance of the proceeds will be used to repay borrowings under
the company's senior secured credit facility, which at 6/30/10,
had $475 million outstanding.

"The affirmation of the Ba2 rating reflects Range's solid track
record of reserves and production growth while maintaining a
competitive cost structure that compares favorably to its peers,"
said Ken Austin, Moody's Vice President.  "However, this is offset
by an aggressive spending program that could result in near-term
leverage increasing from current levels unless Range raises
additional, non-debt capital."

With proved developed reserves of 287.8 mmboe (1.7 tcfe) as of
12/31/09 and production averaging 78.6 mboe/day (471.8 mmcfe/day)
for the quarter ended 6/30/10.  This scale compares favorably to
many similarly rated peers and is reflective of Range's strong
track record of consistently building up its reserves and
production.  Furthermore, this growth has been achieved while
maintaining a leverage profile (to date) and a cost structure that
compares favorably with similarly rated E&P companies.

However, Range is embarking on an aggressive capital spending
program as it looks to ramp up its Marcellus drilling and
development.  The company recently announced that it is expanding
its capital spending by $215 million for the balance of 2010,
bringing its total spending to $1.2 billion for the entire year.
Prior to this increased spending budget, Moody's estimated that
Range was already expected to outspend cashflow, and this expanded
budget will widen the funding gap and push leverage higher,
especially if natural gas prices remain weak through the end of
the year.

Range's debt to proven developed reserves was $6.71/boe
($1.11/mcfe) based on debt at 6/30/10 and 12/31/09 reported
reserves.  While the company's debt to PD reserves is in-line with
the peer group, it has increased since the beginning of the year
and could move higher.  In addition, Range's debt/average daily
production at 6/30/10 was approximately $24,281/boe ($4,046/mcfe),
which is higher than average for the Ba2 rated peer group.  Given
the pace of spending, this metric could increase by year-end even
if the company meets its production targets.

The stable outlook can accommodate the increase in leverage given
the company's still growing scale and its track record of keeping
leverage in-line with the rating through equity issuance and asset
sales.  Although the company has indicated that it could pursue
asset sales, at this point, the timing and amount are uncertain
given the volatility of the equity and asset markets.  This
potential for higher leverage is currently restraining any
positive rating momentum.

To consider a positive outlook, Range would need to raise
sufficient equity or execute asset sales to cover its cash
shortfall for 2010.  A positive outlook would also be considered
if Moody's has clear visibility that Range's 2011 capital spending
budget will not result in any additional debt and leverage.  A
positive outlook would also anticipate Range continuing to grow
its reserves and production while keeping its debt/PD metric
around $6.00/boe ($1.00/mcfe) and debt to average daily production
trends towards $20,000/boe ($3,333/mcfe).

A negative outlook would be considered if the company's capital
productivity stalls, which would be signaled by production and
reserves growth not being achieved as expected, or if the
company's leverage or cost structure starts to rise significantly.

The last rating action for Range was on May 11, 2009, when Moody's
assigned a Ba2 rating to its notes offering and affirmed all
existing ratings.

Range Resources, Inc. is headquartered in Fort Worth Texas.


RANGE RESOURCES: S&P Assigns 'BB' Rating on $350 Mil. Notes
-----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' issue-level
rating, the same as the corporate credit rating, to Range
Resources Corp.'s (BB/Stable/--) $350 million senior subordinated
notes due 2020.  The recovery rating on this debt is '4',
indicating that lenders can expect average (30% to 50%) recovery
in the event of default.

The exploration and production company will use the proceeds to
refinance its $200 million of notes due 2013 and use the rest to
repay borrowings under its $1.25 billion revolving facility, which
had $475 million outstanding as of June 30, 2010.

                           Ratings List

                       Range Resources Corp.

   Corporate Credit Rating                          BB/Stable/--

                           New Rating

       $350 Mil. Senior Sub Notes Due 2020              BB
        Recovery Rating                                 4


RCC SOUTH: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: RCC South, LLC
        15333 N. Pima Road, Suite 305
        Scottsdale, AZ 85260

Bankruptcy Case No.: 10-23475

Chapter 11 Petition Date: July 27, 2010

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

Judge: Sarah Sharer Curley

Debtor's Counsel: John J. Hebert, Esq.
                  Polsenelli Shughart, P.C.
                  3636 N. Central Avenue, Suite 1200
                  Phoenix, AZ 85012
                  Tel: (602) 650-2011
                  Fax: (602) 391-2546
                  E-mail: jhebert@polsinelli.com

Estimated Assets: $50,000,001 to $100,000,000

Estimated Debts: $50,000,001 to $100,000,000

The petition was signed by David V. Cavan, sole member.

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


RESORT, LLC: Case Summary & 17 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Resort, Limited Liability Company
        6170 West Desert Inn Road
        Las Vegas, NV 89146

Bankruptcy Case No.: 10-24096

Chapter 11 Petition Date: July 27, 2010

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

Judge: Mike K. Nakagawa

Debtor's Counsel: Neil J. Beller, Esq.
                  7408 W. Sahara Avenue
                  Las Vegas, NV 89117
                  Tel: (702) 368-7767
                  Fax: (702) 368-7720
                  E-mail: nbeller@njbltd.com

Scheduled Assets: $1,422,661

Scheduled Debts: $1,966,662

A list of the Company's 17 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/nvb10-24096.pdf

The petition was signed by Chun-Leon Chen, manager.


RGIS HOLDINGS: S&P Raises Corporate Credit Rating to 'B'
--------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on the Auburn Hills, Mich.-based RGIS Holdings LLC
to 'B' from 'B-'.  The outlook is stable.

S&P also raised the rating on the company's senior secured credit
facility, consisting of a $525 million term loan and a $75 million
revolving credit facility, to 'B' from 'B-' and maintained the 3'
recovery rating on the debt, indicating S&P's expectation for
meaningful (50%-70%) recovery of principal in the event of
default.

"The rating on RGIS reflects its highly leveraged financial risk,"
said Standard & Poor's credit analyst Charles Pinson-Rose, "and
S&P's belief that the company will have marginal sales growth
opportunities given its expectation of limited inventory expansion
among retailers."


RITE AID: Bank Debt Trades at 12% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which Rite Aid
Corporation is a borrower traded in the secondary market at 87.55
cents-on-the-dollar during the week ended Friday, July 30, 2010,
an increase of 1.40 percentage points from the previous week,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 175 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
May 25, 2014, and carries Moody's B3 rating and Standard & Poor's
B+ rating.  The loan is one of the biggest gainers and losers
among 193 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

Headquartered in Camp Hill, Pennsylvania, Rite Aid Corporation
(NYSE: RAD) -- http://www.riteaid.com/-- is the largest drugstore
chain on the East Coast and the third largest drugstore chain in
the U.S.  The Company operates more than 4,900 stores in 31 states
and the District of Columbia.

As reported by the Troubled Company Reporter on Oct. 21, 2009,
Moody's affirmed Rite Aid's 'Caa2' corporate family and
probability of default ratings.  Standard & Poor's also affirmed
the 'B-' corporate credit rating, and the outlook is stable.


ROCKWOOD SPECIALTIES: S&P Raises Corporate Credit Rating to 'BB-'
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its ratings
on Rockwood Specialties Group Inc., including its corporate credit
rating to 'BB-' from 'B+'.  The outlook is stable.

At the same time, S&P raised its rating on Rockwood's senior
secured debt, consisting of a revolving credit facility and term
loans, to 'BB+' from 'BB-'.  The 'BB+' rating is two notches above
the corporate credit rating.  S&P also revised the recovery rating
on the senior secured debt to '1', indicating S&P's expectation
for very high recovery (90%-100%) in the event of a payment
default, from '2'.  In addition, S&P raised the rating on the
company's subordinated notes to 'B' (two notches below the
corporate credit rating) from 'B-'.  The '6' recovery rating on
the subordinated notes, indicating negligible recovery (0%-10%) in
the event of a payment default, remains unchanged.

"S&P's rating action reflects improvements to the company's
leverage-related credit metrics, due to higher earnings and cash
flow in 2010, and lower debt levels relative to a year ago," said
Standard & Poor's credit analyst Paul Kurias.

Our expectation is that improved demand trends and the continuing
benefits from a cost reduction program are sustainable and will
contribute to a further gradual strengthening of credit measures
over the next year and beyond.  Rockwood has reported higher sales
volumes as demand in the company's cyclical end markets has
improved, following sharp deteriorations in 2009.  As a result,
the company's quarterly revenues for second quarter 2010 increased
20% relative to second quarter 2009.  Operating margins (before
depreciation and amortization) in 2010 have reverted to historical
levels of approximately 20%, an improvement over the 18% achieved
through most of 2009.  These improvements, combined with a
meaningful paydown of debt, have lifted the ratio of funds from
operations to total debt to about 16% as of March 31, 2010, from
trough levels of 9% in 2009.  The ratio as of March 31, 2010, is
pro forma for a July 29, 2010, $200 million debt repayment of
senior secured debt.  This debt paydown follows approximately
$300 million of debt reduction in 2009.

The ratings on Princeton, N.J.-based Rockwood reflect the
company's aggressive financial profile and a satisfactory business
risk profile.  Leverage has improved and is at levels appropriate
for the rating.  The ratio of FFO to total debt is within the 12%
to 20% band that S&P expects at the current rating.  S&P expects
that the company will at least maintain its leverage-related
credit metrics at current levels, though it is also likely that
modest improvements could occur over the next several quarters,
even after accounting for modest debt-funded acquisitions and
working capital increases.  S&P believes management will continue
to be prudent in its capital spending plans and in any potential
acquisitions or shareholder rewards, thereby maintaining a
financial policy that supports the current ratings.


RUBICON US REIT: Parkway Purchases Secured Note for $35 Million
---------------------------------------------------------------
Parkway Properties, Inc. disclosed the purchase of a first
mortgage note secured by three properties owned by RubiconPark I,
LLC from Special Servicer JE Robert for $35.0 million.  Rubicon US
REIT owns an 80% interest in RubiconPark I, LLC, and Parkway
Properties, LP owns the remaining 20% interest.  The loan has a
$2.0 million rollover reserve which was credited to Parkway at
closing, for a net purchase price of $33.0 million.  The loan was
originated by Bear Stearns Commercial Mortgage, Inc., and had a
principal balance of $51.0 million at July 30, 2010. The loan
matures on January 1, 2012, and bears interest at a stated rate of
4.9%.  The purchase of this loan was funded using Parkway's line
of credit.

The loan is secured by first mortgages on three properties,
including Falls Pointe, a 107,000 square foot office property in
Atlanta, Georgia; Lakewood II, a 128,000 square foot office
property also in Atlanta, Georgia; and Carmel Crossing, a three-
building, 326,000 square foot office complex in Charlotte, North
Carolina.  The properties were 76.1% occupied as of July 1, 2010.

Steven G. Rogers, President and Chief Executive Officer at
Parkway, stated "The purchase of this note represents an important
step in turning lemons into lemonade for Parkway's shareholders.
We were able to acquire the note at a 35% discount to the
outstanding principal balance, and with the low current occupancy,
an improving economy, and contractual rent increases, we believe
we have the potential to earn an attractive rate of return on a
fee simple basis similar to those we typically expect to achieve
through fund and fund-like structures.  We are considering
potentially involving a partner or converting the note to a fee
simple interest, then permanently capitalizing it."

In the event Parkway were to own the properties on a fee simple
basis, without further investment by Parkway, Parkway's implied
investment in the properties would be approximately $59 per square
foot and the expected going-in capitalization rate would be 6.1%
on the forward looking twelve months net operating income.  The
projected first year NOI is burdened by a total of $1.5 million of
contractual rent concessions related to two major customers in the
portfolio.  Excluding the effect of these rent concessions from
NOI implies an expected going-in cap rate of 10.7%.

Parkway previously purchased Falls Pointe in August 1996 for $9.1
million, Lakewood II in July 1997 for $11.5 million, and Carmel
Crossing in November 2003 for $41.0 million, representing a total
purchase price for the three properties of $61.6 million. In
December 2004, Parkway sold an 80% interest in the properties to
RUSR, a wholly-owned subsidiary of Rubicon America Trust, at a
gross valuation of $66.7 million.  That sale created RubiconPark
I, LLC, in which Parkway still owns a 20% interest.  The venture
placed a $52.0 million non-recourse mortgage loan on the three
properties at a fixed interest rate of 4.9%, which is the note
that Parkway has acquired.

Parkway recorded a non-cash impairment loss totaling $5.6 million
during the fourth quarter of 2009 in connection with the joint
venture based on the net realizable value of the assets at that
time, which had been impaired due to the loss of two major
customers and significant changes in the real estate capital
markets. RUSR filed for Chapter 11 bankruptcy protection in
January 2010.  The RUSR Bondholders now expect to assume ownership
and operational control over RUSR's assets in August 2010, which
would designate them as an 80% owner of RubiconPark I, LLC,
however they will not own any interest in Parkway's purchase of
the note.

                    About Parkway Properties

Parkway Properties, Inc., a member of the S&P Small Cap 600 Index,
is a self-administered real estate investment trust specializing
in the operation, leasing, acquisition, and ownership of office
properties.  The Company is geographically focused on the
Southeastern and Southwestern United States and Chicago.  Parkway
owns or has an interest in 64 office properties located in 11
states with an aggregate of approximately 13.2 million square feet
of leasable space at July 30, 2010.  Included in the portfolio are
21 properties totaling 3.9 million square feet that are owned
jointly with other investors, representing 29.3% of the portfolio.
Fee-based real estate services are offered through the Company's
wholly-owned subsidiary, Parkway Realty Services, which also
manages and/or leases approximately 2.8 million square feet for
third-party owners at July 30, 2010.

                      About Rubicon US REIT

Rubicon US REIT Inc. is a Chicago-based real estate investment
trust.  Rubicon filed for Chapter 11 bankruptcy protection on
January 20, 2010 (Bankr. D. Del. Case No. 10-10160).  Attorneys at
Phillips, Goldman & Spence, have been tapped as bankruptcy
counsel.  Phillips, Goldman & Spence, P.A. is Delaware bankruptcy
counsel Grant Thornton LLP is the Company's financial advisor.
Garden City Group is the claims and notice agent.  In its
petition, the Company listed $100,000,001 to $500,000,000 in
assets and $100,000,001 to $500,000,000 in liabilities.  The
Company's affiliates -- Rubicon GSA II, LLC, et al. -- also filed
Chapter 11 petitions.


RYLAND GROUP: Posts $21.8 Million Net Loss for June 30 Quarter
--------------------------------------------------------------
The Ryland Group Inc. reported results for its second quarter
ended June 30, 2010.   For the second quarter ended June 30, 2010,
the Company reported a consolidated net loss of $21.8 million, or
$0.49 per diluted share, compared to a consolidated net loss of
$73.7 million, or $1.70 per diluted share, for the same period in
2009.  For the second quarter ended June 30, 2010, the Company had
pretax charges for inventory and other valuation adjustments and
write-offs that totaled $8.6 million, compared to pretax charges
that totaled $47.3 million for the same period in 2009.
Additionally, the Company had a net pretax charge that totaled
$19.1 million related to debt repurchases during the second
quarter ended June 30, 2010.

The Company's balance sheet at June 30, 2010, showed
$1.733 billion in total assets and $1.115 billion in total
liabilities, for a stockholder's equity of $618.26 million.

The homebuilding segments reported pretax earnings of $4.2 million
during the second quarter of 2010, compared to a pretax loss of
$67.4 million for the same period in 2009.  This increase was
primarily due to lower inventory and other valuation adjustments
and write-offs; higher closing volume and gross profit margins;
and a reduced selling, general and administrative expense ratio,
partially offset by higher interest expense.

Homebuilding revenues rose 38.5 percent to $362.3 million for the
second quarter of 2010, compared to $261.6 million for the same
period in 2009.  This increase was primarily attributable to a
37.9 percent rise in closings that totaled 1,505 units for the
second quarter ended June 30, 2010, compared to 1,091 units for
the same period in the prior year.  For the quarter ended June 30,
2010, the average closing price of a home declined by 0.8 percent
to $238,000 from $240,000 for the same period in 2009.

Homebuilding revenues for the second quarter of 2010 included
$3.9 million from land sales, which resulted in net pretax
earnings of $124,000, compared to homebuilding revenues for the
second quarter of 2009 that included $95,000 from land sales,
which resulted in net pretax earnings of $22,000.

New orders of 958 units for the quarter ended June 30, 2010,
represented a decrease of 44.2 percent, compared to new orders of
1,716 units for the same period in 2009.  The Company had a
monthly sales absorption rate of 1.8 homes per community in the
second quarter ended June 30, 2010, versus 2.5 homes per community
for the same period in 2009.  For the second quarter of 2010, new
order dollars declined 43.0 percent to $230.8 million from
$404.5 million for the second quarter of 2009.  Backlog at the end
of the second quarter of 2010 declined 44.9 percent to 1,368 units
from 2,482 units at June 30, 2009.  At June 30, 2010, the dollar
value of the Company's backlog was $342.7 million, reflecting a
decrease of 43.6 percent from June 30, 2009.

Housing gross profit margins averaged 15.9 percent, excluding
inventory and other valuation adjustments, for the quarter ended
June 30, 2010, compared to 13.9 percent for the quarter ended
March 31, 2010, and 7.8 percent for the quarter ended June 30,
2009.  Including inventory and other valuation adjustments,
housing gross profit margins averaged 14.4 percent for the second
quarter of 2010, compared to negative 10.0 percent for the same
period in 2009.  The increase in average housing gross profit
margins for the second quarter ended June 30, 2010, compared to
the second quarter ended June 30, 2009, was primarily due to lower
inventory and other valuation adjustments and reduced sales
discounts and allowances that related to homes closed during the
quarter.

Sales incentives and price concessions averaged 11.0 percent for
the second quarter ended June 30, 2010, compared to 18.0 percent
for the same period in 2009.  Selling, general and administrative
expense totaled 10.4 percent of homebuilding revenues for the
second quarter of 2010, compared to 14.4 percent of homebuilding
revenues for the same period in 2009.  This decrease in the
selling, general and administrative expense ratio was primarily
attributable to increased revenues, cost-saving initiatives, and
lower marketing and advertising expenditures per unit.  The
homebuilding segments recorded $6.8 million of interest expense
during the second quarter of 2010, compared to $2.8 million of
interest expense in the second quarter of 2009.  This increase in
interest expense was primarily due to additional senior debt and
lower inventory-under-development resulting in a higher ratio of
debt to inventory-under-development.

Corporate expense was $8.0 million for the second quarter of 2010,
compared to $8.5 million for the same period in 2009.  This
decrease was primarily due to an expense of $2.0 million that
related to the retirement of the Company's former CEO in the
second quarter of 2009, as well as to lower executive compensation
costs, partially offset by a $703,000 loss in the market value of
retirement plan investments for the second quarter of 2010,
compared to a $2.3 million investment gain for the same period in
2009.

During the second quarter of 2010, the Company provided
$50.7 million of cash from operations.  It used $3.5 million of
cash for investing activities and provided $6.9 million of cash
from financing activities.

For the second quarter ended June 30, 2010, the financial services
segment reported a pretax loss of $634,000, compared to pretax
earnings of $1.1 million for the same period in 2009.  This
decrease was primarily attributable to higher loan indemnification
expense and a reduction in the number of customer loans-in-process
with locked interest rates at the end of the period, partially
offset by a 30.1 percent increase in mortgage originations.

             Results From First Six Months of 2010

For the six months ended June 30, 2010, the Company reported a
consolidated net loss of $36.1 million, or $0.82 per diluted
share, compared to a consolidated net loss of $149.0 million, or
$3.46 per diluted share, for the same period in 2009.  For the six
months ended June 30, 2010, the Company had pretax charges for
inventory and other valuation adjustments and write-offs that
totaled $13.3 million, compared to pretax charges that totaled
$96.8 million for the same period in 2009.  Additionally, the
Company had pretax charges that totaled $19.3 million related to
debt repurchases during the six months ended June 30, 2010.

The homebuilding segments reported a pretax loss of $5.2 million
during the first six months of 2010, compared to a pretax loss of
$141.8 million for the same period in 2009.  This reduction in
loss was primarily due to lower inventory and valuation
adjustments and write-offs; higher closing volume and gross profit
margins; and a reduced selling, general and administrative expense
ratio, partially offset by higher interest expense.

Homebuilding revenues rose 16.1 percent to $604.2 million for the
first six months of 2010, compared to $520.6 million for the same
period in 2009.  This increase was primarily attributable to a
16.3 percent rise in closings, partially offset by a lower average
sales price.  Closings totaled 2,489 units for the six months
ended June 30, 2010, compared to 2,140 units for the same period
in the prior year.  For the six months ended June 30, 2010, the
average closing price of a home declined by 0.8 percent to
$241,000 from $243,000 for the same period in 2009.  Homebuilding
revenues for the first six months of 2010 included $4.9 million
from land sales, which resulted in net pretax earnings of
$747,000, compared to homebuilding revenues for the first six
months of 2009 that included $413,000 from land sales, which
resulted in a net pretax loss of $205,000.

Housing gross profit margins averaged 15.1 percent, excluding
inventory and other valuation adjustments, for the six months
ended June 30, 2010, compared to 6.9 percent for the six months
ended June 30, 2009.  Including inventory and other valuation
adjustments, housing gross profit margins averaged 13.5 percent
for the first six months of 2010, compared to negative 11.5
percent for the same period in 2009.  The increase in average
housing gross profit margins for the six months ended June 30,
2010, compared to the six months ended June 30, 2009, was
primarily due to lower inventory and other valuation adjustments
and reduced sales discounts and allowances that related to homes
closed during the period.

Sales incentives and price concessions averaged 11.2 percent for
the six months ended June 30, 2010, compared to 18.0 percent for
the same period in the prior year.  Selling, general and
administrative expense totaled 11.6 percent of homebuilding
revenues for the first six months of 2010, compared to 15.0
percent of homebuilding revenues for the first six months of 2009.
This decrease in the selling, general and administrative expense
ratio was primarily attributable to increased revenues, cost-
saving initiatives, and lower marketing and advertising
expenditures per unit.  Selling, general and administrative
expense dollars for the six months ended June 30, 2010, decreased
$8.0 million from the same period in the prior year.  The
homebuilding segments recorded $13.6 million of interest expense
during the first six months of 2010, compared to $2.8 million of
interest expense during the first six months of 2009. This
increase in interest expense was primarily due to additional
senior debt and lower inventory-under-development resulting in a
higher ratio of debt to inventory-under-development.

Corporate expense was $14.3 million for the first six months of
2010, compared to $17.6 million for the same period in 2009.  This
decrease was primarily due to an expense of $2.0 million that
related to the retirement of the Company's former CEO in the
second quarter of 2009, as well as to lower executive compensation
costs, partially offset by a $537,000 loss in the market value of
retirement plan investments for the first six months of 2010,
compared to a $178,000 investment gain for the same period in
2009.

For the six months ended June 30, 2010, the financial services
segment reported a pretax loss of $162,000, compared to a pretax
loss of $467,000 for the same period in 2009.  This reduction in
loss was primarily attributable to a rise in mortgage originations
and title income, offset by higher loan indemnification expense
and a reduction in the number of customer loans-in-process with
locked interest rates at the end of the period.

A full-text copy of the Company's earnings release is available
for free at http://ResearchArchives.com/t/s?6760

                        About Ryland Group

Headquartered in Calabasas, California, The Ryland Group, Inc.
(NYSE: RYL) -- http://www.ryland.com/-- is one of the nation's
largest homebuilders and a leading mortgage-finance company.
Since its founding in 1967, Ryland has built more than 285,000
homes and financed more than 240,000 mortgages.  The Company
currently operates in 15 states and 19 homebuilding divisions
across the country and is listed on the New York Stock Exchange
under the symbol "RYL."

                           *     *      *

As reported by the Troubled Company Reporter on June 21, 2010,
Fitch Ratings has affirmed Ryland Group, Inc.'s ratings -- Issuer
Default Rating at 'BB'; and Senior unsecured debt at 'BB'.  The
Rating Outlook has been revised to Stable from Negative.

Ryland Group carries Moody's "Ba3" corporate family rating, "Ba3"
probability of default rating, "Ba3" senior unsecured notes
rating, and "SGL-2" speculative grade liquidity rating.  Ryland
Group carries Standard & Poor's Ratings Services' 'BB-' corporate
credit and senior unsecured note ratings.


SBARRO INC: Peter Beaudrault Resigns as President and CEO
---------------------------------------------------------
Sbarro Inc. said that Peter Beaudrault is stepping down as
President and Chief Executive Officer of the Company and its
indirect parent, MidOcean SBR Holdings LLC, Chairman of the Board
of Directors of the Company, and a Director of the Company in
order to spend more time with his family.

Mr. Beaudrault has been with the Company since January 2004 and
has served as Chief Executive Officer since March 2005 and
Chairman since January 2007.  Under the terms of a letter
agreement with the Company, Mr. Beaudrault will remain with the
Company in a consulting capacity while the Company's Board of
Directors undertakes a search for a new Chief Executive Officer.
The Company has retained Elliott and Associates to conduct the
search.  The Company also announced that Dennis Malamatinas, a
current Director of Parent and the Company, will replace Mr.
Beaudrault as Chairman of the Board, and Nicholas McGrane will
serve as Interim President and Chief Executive Officer of the
Company and Parent until the Board appoints a new Chief Executive
Officer.  In this capacity, Mr. McGrane will serve as the
Company's and Parent's principal executive officer. All of these
changes are effective today.

Mr. Malamatinas has served as a Director of Parent and the Company
since January 2007.  He serves as Chief Executive Officer of
Marfin Investment Group, the leading investment holding company in
Southeast Europe with $10 billion in assets. He serves on the
following boards as a non-executive Director: SSP Group, Ltd.,
Saxo Bank, Celio Group Ltd. and also as a member of the Advisory
Board of MidOcean Partners.  Previously he has served as the
worldwide CEO of Burger King Corp., CEO of Smirnoff Vodka, CEO of
Pepsi-Cola Italy, Chairman and CEO of Priceline Europe, President
of Diageo Plc Asia division, and has served in various management
positions with Procter & Gamble International, where he started
his career.  He has served as a non-executive Director of Reuters
Plc., non-executive Chairman of Metro International and as
Executive Director of Diageo Plc. Mr. Malamatinas will receive a
fee of $100,000 per year for his service as Chairman, in lieu of
the fee he currently receives as a director.

Mr. McGrane has served as a Director of Parent and the Company
since January 2007.  He is a Managing Director of MidOcean, a
private equity firm, which indirectly owns a majority of the
Company's common stock.  Mr. McGrane has been with MidOcean and
its predecessors, BT Capital Partners and DB Capital Partners
since 1997.  Mr. McGrane also has experience as a consultant at
Bain & Company and a financial analyst at Kidder, Peabody & Co.
Incorporated.  Mr. McGrane currently serves as a Director of True
2 Form, Inc., and Hunter Fan Company and during the past five
years has served as a Director of Jenny Craig, Inc.

Mr. McGrane will not receive any compensation from the Company or
Parent for his service as Interim President and Chief Executive
Officer.

Mr. Beaudrault, the Company and Parent entered into a letter
agreement on July 28, 2010, to address certain transitional
matters. Pursuant to the terms of the Letter Agreement, Mr.
Beaudrault has agreed to remain an employee of the Company and
Parent in order to provide certain transitional services until the
earliest of:

   i) December 31, 2010,

  ii) the thirtieth (30th) day following the commencement of
      employment of the Company's and Parent's new full-time
      Chief Executive Officer in such capacity, and

iii) such other date as may be mutually agreed upon by the
      parties.

In consideration for these services, Mr. Beaudrault will continue
to receive salary and benefits in accordance with the terms of his
Employment Agreement with the Company and Parent, dated
January 31, 2007.  At the conclusion of Mr. Beaudrault's
employment pursuant to the terms of the Letter Agreement, Mr.
Beaudrault will receive severance payments and continued medical
benefits for a period of twelve months in accordance with the
terms of the Employment Agreement.

                       About Sbarro Inc.

Melville, N.Y.-based Sbarro, Inc. -- http://www.sbarro.com/-- is
the world's leading Italian quick service restaurant concept and
the largest shopping mall-focused restaurant concept in the world.
The Company has 1,056 restaurants in 41 countries.

The Company's balance sheet at March 28, 2010, showed
$478.2 million in total assets, $31.2 million in total current
liabilities, and $336.1 million in long-term debt, for a
shareholders' equity of $102.2 million.

                         *     *     *

As of March 26, 2010, the Company carries Standard and Poors' CCC+
senior credit facility rating, CCC- Senior Notes rating, and CCC+
corporate rating.  In July 2009, Moody's increased Sbarro's credit
ratings to Caa1 from Caa2 on its senior credit facility, affirmed
its C rating on its senior notes and affirmed its Ca corporate
rating, which ratings hold to date.


SCOTT GOLLAHER: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Scott Logan Gollaher
               Sharon Western Gollaher
               aka Sharon L. Western
               aka Sharon Lucille Western
               131 First Avenue, Suite 502
               Salt Lake City, UT 84103

Bankruptcy Case No.: 10-30065

Chapter 11 Petition Date: July 27, 2010

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

Judge: Joel T. Marker

Debtor's Counsel: Brandon J. Smith, Esq.
                  Law Office of Brandon J. Smith, LLC
                  40 W Cache Valley Blvd #3B
                  Logan, UT 84341
                  Tel: (435) 752-5466
                  Fax: (435) 752-5466
                  E-mail: bsmith@bslawoffice.com

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

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

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/utb10-30065.pdf

The petition was signed by the Joint Debtors.


SOUTH BAY: Committee Gets OK to Hire Brinkman as Counsel
--------------------------------------------------------
The Official Committee of Unsecured Creditors formed in the
Chapter 11 cases of South Bay Expressway LP and California
Transportation Ventures Inc. won permission from the United States
Bankruptcy Court for the Southern District of California to retain
Brinkman Portillo Ronk, PC, to serve as its counsel, nunc pro tunc
to June 17, 2010.

As Committee Counsel, BPR will:

  -- assist, advise and represent the Creditors Committee:

     * in consultations with the Debtors relative to the
       administration of the bankruptcy cases;

     * in analyzing the Debtors' assets and liabilities,
       investigate the extent and validity of liens, and
       participate in and review any proposed asset sales or
       depositions;

  -- attend meetings and negotiate with the Debtors'
     representatives and secured creditors;

  -- assist and advise the Creditors Committee in its
     examination, analysis and prosecution of meritorious claims
     related to the conduct of the Debtors' affairs, including
     relationships and transactions with affiliates and
     insiders;

  -- assist the Creditors Committee in the review, analysis and
     negotiations of any plans of reorganization that may be
     filed in the bankruptcy cases and the disclosure statement
     accompanying those plans;

  -- assist the Creditors Committee in the examination, analysis
     and prosecution of any claims arising under Chapter 5 of
     the Bankruptcy Code;

  -- assist the Creditors Committee in reviewing, analyzing and
     negotiating any financing or funding agreements;

  -- take all necessary actions to protect and preserve the
     interests of the Creditors Committee, including the
     prosecution of actions on its behalf, negotiations
     concerning all litigation in which the Debtors are
     involved, and review and analysis of all claims filed
     against the Debtors;

  -- prepare on behalf of the Creditors Committee all necessary
     motions, applications, answers, order reports and papers in
     support of positions taken by the Creditors Committee; and

  -- appear, as appropriate, before the Office of the United
     States Trustee, and the Court, appellate courts and other
     courts, in which matters may be heard to protect the
     interests of the Creditors Committee.

BPR will be paid based on its standard 2010 hourly rates:

    Professional             Rate
    ------------             ----
    Daren R. Brinkman        $535
    Laura J. Portillo        $455
    Kevin C. Ronk            $355
    Jeffrey P. Stephens      $295
    Paraprofessionals        $170

Jeffrey B. Kozek, chairman of the Creditors Committee, tells the
Court that there are no amounts due to BPR from the Debtors on
account of any prepetition services rendered.

Daren R. Brinkman, Esq., a principal at BPR, assures Judge Adler
that his firm does not represent any person or entity holding an
interest adverse to the bankruptcy cases, and that the firm is
disinterested within the meaning of Section 101(14) of the
Bankruptcy Code.

                   About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


SOUTH BAY: Proposes to Settle with San Diego Assessors
------------------------------------------------------
South Bay Expressway, L.P., and California Transportation
Ventures, Inc., ask the United States Bankruptcy Court for the
Southern District of California to approve its settlement
agreement, dated as of July 8, 2010, with the San Diego County
Assessor.

The Settlement Agreement pertains to appeals by the Debtors of the
Assessor's assessments of an alleged possessory interest for the
Debtors' possession and use of land and improvements for the State
Road 125 toll road, also known as the South Bay Expressway,
pursuant to a lease entered into by the Debtors and the California
Department of Transportation dated November 16, 2007.

The Debtors appealed the assessments on grounds that the assessed
value of the Property should be reduced and that the Property is
exempt from ad valorem taxation.

The Settlement Agreement effectively bifurcates the Appeals by
settling the Valuation Dispute while preserving the Exemption
Dispute.

Under the Settlement Agreement, the Debtors and the Assessor have
agreed that:

  (a) the Debtors' business personal property will be assessed
      at $8,087,567 for 2008, obligating the Debtors to pay
      $106,292 in 2008 business personal property taxes, of
      which $94,209 is outstanding; and

  (b) the assessed values of the Property will be reduced for
      all periods through and including June 30, 2010, while
      reserving the Debtors' rights to seek a lower valuation of
      the Property for 2010 and permitting the Debtors to pursue
      the Exemption Dispute.

If the Exemption Dispute is resolved in favor of the Debtors, the
Debtors will not be liable for property taxes on the basis of the
Settled Assessed Values and will receive a refund of the taxes
they have paid on the Property.  If the Debtors do not prevail in
the Exemption Dispute, they would be liable for property taxes
based upon the Settled Assessed Values of the Property.

Accordingly, the Settlement Agreement places a cap on the Debtors'
tax liability and ensures that the Debtors will receive a refund
of at least some portion of the disputed property taxes, without
compromising the Debtors' ability to pursue full exemption.

These tables set forth the Debtors' tax liability, tax savings and
tax refunds under the Settlement Agreement, based on the outcome
of the Exemption Dispute:

           If Assessor Prevails in Exemption Dispute
  -------------------------------------------------------
  Assessment         Tax             Tax             Tax
    Period        Liability        Savings         Refund
  ----------      ---------        -------         ------
  12/01/07 -     $2,885,035       $961,678       $961,678
  06/30/08

  07/01/08 -      2,986,557      3,650,236      3,650,236
  06/30/09

  07/01/09 -      2,969,834      4,020,699        525,433
  06/30/10
  ----------      ---------      ---------      ---------
  Totals         $8,841,426     $8,632,613     $5,137,347

            If Debtors Prevail in Exemption Dispute
  -------------------------------------------------------
  Assessment         Tax             Tax             Tax
    Period        Liability        Savings         Refund
  ----------      ---------        -------         ------
  12/01/07 -              0     $3,846,713     $3,846,713
  06/30/08

  07/01/08 -              0      6,636,793      6,636,793
  06/30/09

  07/01/09 -              0      6,990,533      3,495,267
  06/30/10
  ----------      ---------      ---------      ---------
  Totals                  0    $17,474,039    $13,978,773

The Settlement Agreement requires the approval and authorization
of the Court and the San Diego County Assessment Appeals Board.

R. Alexander Pilmer, Esq., at Kirkland & Ellis LLP, in Los
Angeles, California, avers that by entering into the Settlement
Agreement and paying the Personal Property Taxes, the Debtors will
(i) be able to minimize interest expenses on the Personal Property
Taxes, (ii) be able to save at least $8.6 million in taxes on the
Property, and (iii) be assured of a tax refund of at least
$5.1 million.

Mr. Pilmer also asserts that no difficulty related to collections
will arise as a result of the Settlement Agreement because it caps
the Debtors' tax liability and ensures that they will be refunded
at least a portion of the property taxes they have already paid,
even if they do not prevail in the Exemption Dispute.  He notes
that the Debtors have ample liquidity to satisfy the Personal
Property Taxes, even without the tax refund.

In his declaration in support for the approval of the Settlement
Agreement, Anthony G. Evans, chief financial officer for South Bay
Expressway, L.P., says that the Settlement Agreement in no way
settles, releases, compromises or otherwise impairs South Bay's
ability to seek a lower valuation of the Property for 2010 or to
pursue the Exemption Dispute in the Court or in any other
appropriate venue.

                   About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


SOUTH BAY: Wins Nod to Employ PwC as Tax Advisor
------------------------------------------------
South Bay Expressway, L.P., and California Transportation
Ventures, Inc., submitted an amended application for authority to
employ PricewaterhouseCoopers LLP as their tax advisor and
auditor, pro tunc to the Petition Date, and in accordance with the
terms and conditions set forth in the parties' two amended
engagement letters:

(1) the tax services engagement letter dated as of June 30,
     2009; and

(2) the audit engagement letter dated as of June 28, 2010.

To recall, Judge Adler did not approve the Debtors' original
application to employ PwC for reasons set forth in the U.S.
Trustee's objection.  The U.S. Trustee argued, among other things,
that PwC should provide additional disclosure regarding its
present relationship with Macquarie 125 Holdings, Inc., the
Debtors' parent.

Anthony G. Evans, the Debtors' chief financial officer, says that
PwC's agreement to perform the services described in the Amended
Engagement Letters is contingent upon the Court's approval of each
term and condition of the Amended Engagement Letters.  He adds
that the Amended Engagement Letters supersede the engagement
letters previously submitted to the Court in connection with the
original application.

To the extent not already addressed in the Supplemental
Declaration, the Amended Engagement Letters and the Amended
Application demonstrate that PwC has responded to each of the
objections raised in the U.S. Trustee's statement and in the
Court's previous order, Mr. Evans asserts.

Specifically, PwC has agreed to keep time records in tenths-of-an-
hour increments and has agreed to, notwithstanding any provisions
to the contrary in the Amended Engagement Letters, forgo rights to
indemnification, contribution, exculpation and limitation of
liability at the outset of PwC's retention by the Debtors, without
prejudice to PwC's rights to seek indemnification on a case by
case basis in the event that a claim is asserted against PwC in
respect of the services provided to the Debtors.

In addition, Mr. Evans notes, the Amended Engagement Letters
provide estimates, to the extent possible, of hourly fees in
connection with services provided by PwC Retention Advisors,
provide additional detail regarding the potential use of temporary
and contractual staffing services, and clarifies that, for all
services rendered in connection with the Amended Engagement
Letters, PwC will seek compensation in accordance with the
procedures approved by the Court.

Furthermore, the Declaration of Steve Embry of PwC clarifies that
PwC agrees to modify the order to reflect that PwC will not seek
reimbursement of attorneys' fees from the Debtors during the
Debtors' Chapter 11 cases.  Moreover, the order clarifies that PwC
has agreed that the Court retains jurisdiction to hear and
determine all matters arising from or related to the order while
the cases are pending, and provides that the Court does not
approve any dispute resolution provisions in the Amended
Engagement Letters, thereby addressing the U.S. Trustee's
objection to arbitration and dispute resolution provisions in the
Initial Engagement Letters.

The Debtors also seek to clarify that retention of PwC is sought
pursuant to Sections 327(a) and 328(a) of the Bankruptcy Code,
without prejudice to the rights of the Court, the U.S. Trustee,
and all parties-in-interest to review fees pursuant to Section 330
of the Bankruptcy Code.  Specifically, the Debtors seek retention
of PwC pursuant to Section 327(a) with respect to the services to
be performed on an hourly basis and seek retention of PwC pursuant
to Section 328(a) with respect to the services to be provided on a
fixed-fee basis.

                         *     *     *

The Court approved the Amended Application.

Judge Adler ruled that for services provided on an hourly basis,
PwC will submit time records, which will set forth a description
of the services rendered by each professional and the amount of
time spent on each date, in tenths-of-an-hour increments.  For the
fixed fee services provided under the Amended Engagement Letters,
PwC will include summary hourly increments of the approximate time
spent by professionals on various tasks as an exhibit to each
interim fee application in lieu of contemporaneous time records in
tenths-of-an-hour increments.

For all services provided under the Amended Engagement Letters,
PwC will file monthly, interim and final fee applications for the
allowance of compensation and reimbursement of expenses incurred
in accordance with applicable provisions of the Bankruptcy Code,
the Bankruptcy Rules, the Local Bankruptcy Rules and applicable
Court orders.

Notwithstanding any provisions to the contrary in the Amended
Engagement Letters, indemnification, contribution, exculpation and
limitation of liability clauses will not be permitted at the
outset of PwC's retention by the Debtors, without prejudice to
PwC's rights to seek indemnification on a case by case basis in
the event that a claim is asserted against PwC in respect of its
services to the Debtors, Judge Adler maintained.  She added that
notwithstanding any provisions to the contrary in the Amended
Engagement Letters, PwC will not seek reimbursement from the
Debtors of attorney's fees incurred in connection with the
services.

                   About South Bay Expressway

South Bay Expressway, L.P., dba San Diego Expressway, L.P., filed
for Chapter 11 on March 22, 2010 (Bankr. S.D. Calif. Case No.
10-04516).  Its affiliate, California Transportation Ventures
Inc., also filed for bankruptcy.

The Debtors developed and operate a four lane, nine mile express
toll road in Southern California commonly referred to as the South
Bay Expressway or State Road 125.  Both estimated assets and debts
of $500 million to $1 billion in their bankruptcy petitions.

Robert Pilmer, Esq., at Kirkland & Ellis LLP, represents the
Debtors in their restructuring effort.  PricewaterhouseCoopers LLP
is auditor and tax advisor.  Imperial Capital LLC is financial
advisor. Epiq Bankruptcy Solutions LLC serves as claims and notice
agent.

The Debtors say that as of the bankruptcy filing, they have
roughly $640 million in book value of total assets and roughly
$570 million in book value of total liabilities.

Bankruptcy Creditors' Service, Inc., publishes South Bay
Expressway Bankruptcy News.  The newsletter tracks the Chapter 11
proceeding undertaken by South Bay Expressway LP and California
Transportation Ventures Inc.  (http://bankrupt.com/newsstand/or
215/945-7000).


STORM KING: Files for Chapter 11 in Poughkeepsie
------------------------------------------------
Storm King Golf Club Inc. filed for Chapter 11 bankruptcy on
July 28 in Poughkeepsie, New York (Bankr. S.D.N.Y. Case No.
10-37256).

Storm King is a member-owned golf course in Cornwall, New York.
The 6,300-yard course claims to be one of the 100 oldest in the
U.S.  The petition listed assets of $10,000,000 to $50,000,000 and
debts of $1,000,000 to $10,000,000.

According to Bloomberg News, the Debtor said in a court filing
that the "general state of the economy" caused a drop in
membership.  There is a $1.62 million mortgage on the course,
which the club values at $12 million. Monthly revenue in the
season is about $14,000.


SUNQUEST INFORMATION: S&P Raises Ratings on Term Loan to 'BB'
-------------------------------------------------------------
S&P has upgraded the term loan ratings by Sunquest Information
Systems Inc. to 'BB' and changes recovery rating to '1'.


SUPERIOR PLUS: S&P Assigns 'BB' Long-Term Corp. Credit Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB' long-
term corporate credit rating to Superior Plus Corp., as well as
lowered its long-term corporate credit rating on subsidiary
Superior Plus LP to 'BB' from 'BB+' (collectively, Superior Plus).
The outlook on both companies is stable.

At the same time, S&P is revised the recovery rating on Superior
Plus' secured debt to '1' from '2'.  The issue-level rating is
unchanged at 'BBB-'.  The higher recovery rating reflects lower
secured debt outstanding at default due to a recent reduction in
the company's secured credit facility to C$450 million from
C$600 million.  S&P also revised the recovery rating on the
company's unsecured debt to '5' from '6'.  The issue-level rating
on the unsecured debt is unchanged at 'BB-'.  The revision to the
recovery rating reflects S&P's understanding that convertible debt
at the corporate level is subordinated to the unsecured debt at
the LP level.

"The downgrade on Superior Plus reflects S&P's opinion that EBITDA
generation has been lower than expected and S&P's expectations
that leverage will remain high in the near term," said Standard &
Poor's credit analyst Jatinder Mall.

The ratings on Superior Plus LP reflect what Standard & Poor's
views as the company's dominant market position in the Canadian
propane distribution business and second-largest position in the
global sodium chlorate business, its strong product
diversification, and ability to generate stable cash flows.
Somewhat offsetting these factors in S&P's opinion are Superior
Plus' high leverage capital structure and weak business risk
profile for its construction distribution business.

Superior Plus owns and operates three distinct business divisions:
Energy Services (45% of EBITDA), which includes the largest
propane distributor in Canada; ERCO Worldwide (44% of EBITDA), a
specialty chemicals producer of sodium chlorate and chloralkali
products; and Construction Products Distribution  (11% of EBITDA),
a North American construction products distributor.

Standard & Poor's deems the company's business risk profile as
fair.  Superior Plus has a dominant market position in the highly
fragmented Canadian propane distribution business, with an
estimated 40% share of the market.  Standard & Poor's considers
the company's financial risk profile as aggressive.  Superior
Plus' adjusted debt has increased in the past year due to funding
the expansion of the Port Edwards facility, recent acquisitions,
and higher operating lease adjustments

The stable outlook reflects S&P's expectations that Superior Plus'
credit metrics, while currently high, will improve gradually in
the next couple of years and adjusted leverage will decline to 4x
by the end of 2011.  An upgrade would likely require improved and
sustained adjusted leverage to about 3.0x-3.5x.  Standard & Poor's
could lower the ratings if additional cash flows from recent
acquisitions do not materialize and are below 50% of their
historical averages leading to leverage of about 4.5x at the end
of 2011.


TENNECO INC: Moody's Assigns 'B2' Rating on $225 Mil. Notes
-----------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Tenneco Inc.'s
proposed $225 million of senior unsecured noted due 2018.  In a
related action Moody's affirmed the B2 Corporate Family and
Probability of Default Ratings of Tenneco, and affirmed the
ratings on the company's existing debt: senior secured credit
facilities at Ba2; senior unsecured at B2; and senior subordinated
notes at Caa1.  The rating outlook is stable.

Net proceeds from the issuance of the new senior unsecured notes
will be used, along with cash on hand, to repay the senior secured
second-lien notes.  The rating on the senior secured second-lien
notes will be withdrawn upon their repayment.

Tenneco's Corporate Family Rating was raised to B2 on May 25, 2010
recognizing the company's expected improvement in operation
performance.  The Corporate Family Rating and stable outlook
continue reflect Moody's expectation that Tenneco's credit metrics
will support the assigned rating over the intermediate-term and
incorporates the seasonal nature of the company's operations.
Moody's anticipates that the trajectory of Tenneco operating
performance trends in the second half of 2010 may be tempered by
softness in European production,and softening trends in domestic
consumer confidence and economic recovery trends.  Yet, Moody's
continue to expect the company's emission control segment to
benefit from higher levels of commercial vehicle program launches
over the intermediate-term.

This rating was assigned:

* B2 (LGD3, 49%) to the new $225 million senior unsecured notes,
  maturing in 2018;

These ratings were affirmed:

* B2, Corporate Family rating;

* B2, Probability of Default rating;

* Ba2 (LGD2, 12%) for the $622 million first lien senior secured
  revolving credit facility;

* Ba2 (LGD2, 12%) for the $130 million first lien senior secured
  letter of credit / revolving loan facility;

* Ba3 (LGD2, 29%) for the 10.25% guaranteed senior secured second-
  lien notes due 2013, (to be withdrawn upon their refinancing);

* B2 (LGD3, 49%) for the 8.125% guaranteed senior unsecured notes
  due 2015;

* Caa1 (LGD5, 86%) for the 8.625% guaranteed senior subordinated
  notes due November 2014

The last rating action for Tenneco was on May 25, 2010, when the
company's Corporate Family Rating was raised to B2.

Tenneco, headquartered in Lake Forest, Illinois, is a leading
manufacturer of automotive emissions control (approximately 63% of
sales) and ride control (approximately 37% of sales) products and
systems for both the worldwide original equipment market and
aftermarket.  Leading brands include Monroe(R), Rancho(R),
Clevite(R), and Fric Rot ride control products and Walker(R),
Fonos, and Gillet emission control products.  Net sales in 2009
were approximately $4.6 billion.


TENNECO INC: S&P Assigns 'B' Rating on $225 Mil. Senior Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it has assigned a 'B'
rating to Tenneco Inc.'s proposed $225 million senior unsecured
notes due 2018.  At the same time, S&P assigned its recovery
rating of '4' to the proposed facilities, indicating its
expectation that lenders would receive average (30% to 50%)
recovery in the event of a default.

Proceeds of this offering will be used to call the outstanding
balance of Tenneco's $245 million, 10.25% senior secured notes on
Sept. 3, 2010, at 101.708% of the principal amount.  S&P will
withdraw its rating on this issue at that time.

The proposed notes will be general senior obligations of Tenneco
and the guarantors, ranking equal in right of payment with other
unsubordinated debt and senior in right of payment to subordinated
debt.  The proposed notes will not be secured by any assets of
Tenneco.

The 'B' corporate credit rating on Lake Forest, Ill.-based Tenneco
reflects the company's high leverage and substantial exposure to
the highly cyclical light-vehicle and commercial-vehicle markets.

                           Ratings List

                           Tenneco Inc.

       Corporate credit rating                 B/Positive/--

                            New Rating

            $225 mil. sr. unsecured notes due 2018  B
             Recovery rating                        4


TEXAS RANGERS: Yankee's A-Rod Balks at Plan Over Deferred Money
---------------------------------------------------------------
Bailey Stephens at MLB.com, citing report from The Associated
Press, New York Yankee's third baseman Alex Rodriguez objected to
Texas Ranger's plan over concerns about $24.9 million he is owed
in deferred money for his time with the team.  Mr. Rodriquez filed
the objection out of an abundance of caution due to potential
uncertainties in the Plan, a person familiar with the matter
relates.

MLB.com notes that, other than Mr. Rodriquez, Ranger's third
baseman Michael Young is also owed $4 million in deferred money;
$12.9 million, Kevin Millwood; $1.7 million, Vicente Padilla;
$1.4 million, Mickey Tettleton; and $970,051, Mark McLemore.

A hearing to consider confirmation of Texas Rangers' plan is
scheduled for August 4.

                         Emergency Hearing

Bill Rochelle at Bloomberg News reports that the Texas Rangers
baseball club filed on July 29 a request for a hearing the next
day on a motion that it is filing under seal.  The request for
authority to file the papers secretly said the motion would ask
the bankruptcy judge to modify unspecified prior orders and allow
the team to "effectuate a settlement of certain disputes in
this case."  The only court filing made public says that the
settlement would provide "substantial value to the debtor's
estate."

                    August 4 Auction for Assets

A group led by current team President Nolan Ryan and sports lawyer
Chuck Greenberg is under contract to purchase the club for about
$306.7 million cash.

Under court-approved sale procedures, the Debtor will hold an
auction on Aug. 4, if competing bids are submitted by Aug. 3.
Various parties have conveyed interest to buy the team.  Bidders
are required to seek approval from the Major League
Baseball to buy the team in order to participate in the auciton.

If the Ryan-Greenberg group is outbid, it 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.

                        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.


TEXATRONICS INC: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Texatronics, Inc.
        1501 N. Plano Road
        Richardson, TX 75081

Bankruptcy Case No.: 10-35137

Chapter 11 Petition Date: July 27, 2010

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Judge: Barbara J. Houser

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

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

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

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/txnb10-35137.pdf

The petition was signed by Sean Nguyen, president.


TRIBUNE CO: Examiner Asks Court to Resolve Confidentiality Issues
-----------------------------------------------------------------
Kenneth Klee, the Chapter 11 Examiner in the Debtors' cases, asks
the Court to resolve confidentiality issues at the omnibus hearing
scheduled for August 9, 2010, so that most, if not all, of his
report and its accompanying exhibits may be made publicly
available as soon as possible.

The Court entered, on December 12, 2009, an order (i) authorizing
the Debtors to establish a document depository and directing the
Committee to deliver certain documents to the depository pursuant
to Rule 2004 of the Federal Rules of Bankruptcy Procedure; and
(ii) authorizing the Debtors to establish and maintain a Document
Depository to store the documents and information provided to the
Committee or other parties, and to provide the negotiating parties
with access to Document Depository, subject to the preservation of
any claims of confidentiality.

The Examiner tells the Court that he and his professionals were
granted access to the documents in the Document Depository, and
used those documents in connection with the Investigation and the
preparation of the Report.  In addition to the documents in the
Document Depository, Mr. Klee also obtained documents and
information directly from certain parties, which, in many cases,
were produced subject to claims of confidentiality.

Mr. Klee asserts that because there is insufficient time for him
to present these issues for the Court for resolution before the
deadline for filing his report, he has determined he has no choice
but to file a redacted version of the report on July 26, 2010.

By this motion, Mr. Klee seeks the Court's authority to file under
seal his entire report and certain alleged confidential materials,
and if the Court so directs, all of the exhibits to the Report.

Mr. Klee also asks the Court to overrule the claims of
confidentiality and unseal the entire Report and the Exhibits or
direct him to publicly file those portions of the Report and the
Exhibits that the Court deems appropriate.

As with the Report and its Exhibits, Mr. Klee says he strongly
believes that the transcripts should be made part of the public
record of his investigation to provide a reader of the Report with
the full transcribed record of the events and not only those
excerpts cited in the Report.

In a separate filing, Chicago Tribune Company filed a joinder to
Mr. Klee's motion asking the Court to overrule the claims of
confidentiality with respect to the Examiner's Report and all of
its exhibits, which are now filed under seal.

          Debtors Want Disclosure of Examiner's Report

The Debtors ask the Court to authorize the disclosure of the
Examiner's Report, exhibits to Report, and professionally
transcribed, sworn transcripts of witness interviews to the
parties and interviewees pursuant to the terms of the Document
Depository Order.

The Debtors assert that it is critical that the parties be
provided with the Report, the Exhibits, and the Transcripts at the
earliest possible opportunity once filed with the Court.
According to the Debtors, the parties need this information in
connection with their preparations for the hearing on Plan
confirmation, scheduled for August 30, 2010.

The Debtors believe that an order from the Court authorizing the
immediate disclosure of the Report, the Exhibits, and the
Transcripts to the parties pursuant to the terms of the Document
Depository Order will adequately protect the confidentiality
concerns raised.

                   U.S. Trustee, et al., Respond

The U.S. Trustee says it supports the full disclosure of the
Report and the Exhibit as soon as possible, and urges the Court to
either schedule an immediate hearing to determine the issues of
confidentiality raised by the parties or to adjourn the dates by
which creditors must vote on and object to the Debtors' Plan of
Reorganization.

The immediate disclosure of the Report and the Exhibits is
critical because of the condensed timeline related to
confirmation, the U.S. Trustee asserts.  The U.S. Trustee tells
the Court that it is concerned that if the Seal Motion is not
heard until August 9, 2010, then all creditors and other parties
will be prevented from reviewing the entire Report and Exhibits
prior to the voting deadline for the Plan.

The Credit Agreement Lenders led by Contrarian Funds LLC complain
that due to the Examiner's determination to file a truncated 30-
page summary of what has been described as a 1,000-page report,
creditors voting on the Debtors' Plan will not have access to the
Examiner's full report until after the current deadline for voting
on the Plan.  This, the Credit Agreement Lenders argue, nullifies
the primary purpose of the Examiner's report and dictates that the
voting deadline be extended to a reasonable time after the
entirety of the report is made public.

Merrill Lynch Capital Corporation and Merrill Lynch, Pierce,
Fenner & Smith, complain that their position has been inaccurately
stated in both the Debtors' and the Examiner's Response.  Merrill
reiterates that it does not object to the Debtors' Motion provided
that it is clear in any order granting the Debtors' Motion that
(a) transcripts to be made available to the Parties will include
the errata sheets showing all corrections made to the transcripts
and (b) the term "transcript" will be defined to include the
errata sheets.

                       Examiner Talks Back

The Examiner maintains that the entire Report, the Exhibits and
Transcripts should be made available to the public at large.  The
Examiner adds that any remaining claims of confidentiality with
respect to the Report, the Exhibits or the Transcripts are not
well founded.

As for Merrill Lynch's objection to sharing the Transcripts with
the Parties and making them available to the public, the Examiner
points out that the Court order approving the Examiner's work plan
makes clear that information provided to the Examiner can be used
in his Report and made public, subject only to resolution as to
claims of confidentiality, which should occur at the Seal Motion
Hearing.

The Examiner disagrees that the existence of Transcripts for some,
but not all, of his interviews operates to the detriment of any
party.  The Examiner also points out that he has not yet had the
opportunity to provide Interviewees with an opportunity to raise
any confidentiality concerns as to quotes or information in the
Report.

The Examiner thus asks the Court to approve the Debtors' Motion
and require the Interviewees, who have not previously been
provided with an opportunity to raise confidentiality concerns, to
raise those concerns, if any, in the context of responding to the
Seal Motion.

                         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 Austin LLP as their
counsel; Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware
counsel; Lazard Ltd. and Alvarez & Marsal North America 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: Examiner Wants to be Discharged From Duties
-------------------------------------------------------
Kenneth Klee, the Chapter 11 Examiner in the Debtors' bankruptcy
cases, asks the Court to discharge him from any commitments or
representations with respect to his duties as he has already
completed his duties as Examiner.

According to Mr. Klee, it is possible that he will receive
requests from third parties for all or portions of the
Investigative Record, Privileged Materials, or other Depository
Documents or Third party Documents that were obtained by him or
his professionals but not cited in the Report.  He maintains that
it is also possible that third parties will seek testimony from
him or his professionals.

Thus, Mr. Klee asks the Court to issue an order precluding any
third party from issuing or serving upon him or his professionals
any formal or informal discovery request relating to the Report,
the Investigation, the Investigative Record, or any other
documents that were obtained by him or his Professionals, but not
cited in the Report, including, but not limited to, any request
for production of documents, requests for admissions,
interrogatories, subpoenas duces tecum, trial subpoenas, requests
for testimony, or any other discovery of any kind related to the
Report, the Investigation or the Debtors' Chapter 11 cases.

To reduce and eliminate the possibility of third-party discovery
requests, Mr. Klee seeks the Court's authority to transfer the
Report and the non-confidential documents comprising the
Investigative Record to Epiq Bankruptcy Solutions, LLC.  Epiq
currently is serving as the Debtors' claims agent.

The Examiner further asks the Court to exculpate him and his
professionals in connection with the Investigation and the
Report to avoid wasteful and collateral litigation.

The Examiner asks the Court to set August 31, 2010, as the
deadline for the filing of final fee applications, with objections
to be served no later than September 21, 2010.  The
Examiner further requests that the Court schedule a hearing on
those final fee applications at a date and time convenient to the
Court, but in no event later than 45 calendar days from the date
those applications are filed.

The Examiner also seeks approval for the reimbursement of the
reasonable fees and actual expenses incurred in connection with:

   (i) disposing of the Investigative Record pursuant to the
       procedures contemplated therein;

  (ii) responding to any formal or informal discovery requests
       to the extent that those requests are served upon the
       Examiner or the Examiner's Professionals, notwithstanding
       the prohibitions established by the Court regarding that
       discovery;

(iii) the preparation and prosecution of interim and final fee
       applications; and

  (iv) other actions undertaken by the Examiner and his
       professionals at the request or direction of the Court.

                         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 Austin LLP as their
counsel; Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware
counsel; Lazard Ltd. and Alvarez & Marsal North America 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: Revises 2010 Management Incentive Plan
--------------------------------------------------
Tribune Co. and its units revised their 2010 Management Incentive
Plan to increase the required operating cash flow performance
level at each potential payout level, decrease payout percentages
for many participants at various performance levels, and utilize a
uniform payout-performance structure for all participants, as
opposed to the bifurcated structure in the Initial 2010 MIP.

The revisions of the 2010 MIP resolve the objections by the
Official Committee of Unsecured Creditors and Washington-Baltimore
Newspaper Guild, Local 32035 of the Newspaper Guild-Communications
Workers of America, AFL-CIO.

The Debtors seek to implement the Revised 2010 MIP to
approximately 640 management employees, with an aggregate payout
opportunity of approximately:

  (a) $16.5 million, representing a 50%-of-target payout to all
      participants, if the Debtors achieve "threshold"
      performance equal to $500 million of 2010 consolidated
      operating cash flow;

  (b) $33 million, representing a 100%-of-target payout to all
      participants, if the Debtors achieve "target" performance
      for 2010 equal to $550 million of consolidated OCF; and

  (c) $42.9 million, representing a 130%-of-target payout to
      all participants, if the Debtors achieve "maximum"
      performance for 2010 of $685 million of consolidated OCF.

According to the Debtors, the Committee and the Guild support the
Revised 2010 MIP.

In a brief supplemental analysis, Mercer (U.S.), Inc. states that
the compensation opportunities provided under the Revised 2010 MIP
continue to be within reasonable market ranges at all levels of
performance.  A redacted copy of the Supplemental Mercer Report is
available for free at:

     http://bankrupt.com/misc/Tribune_MercerReport710.pdf

A hearing will be held on August 9, 2010, to consider the request.

                         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 Austin LLP as their
counsel; Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware
counsel; Lazard Ltd. and Alvarez & Marsal North America 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)


TRONOX INC: Balks at Metawise Offer to Buy Iron Oxide Tailing
-------------------------------------------------------------
As previously reported, Metawise Group, Inc., announced, through
a letter addressed to the U.S. Bankruptcy Court, its intention to
purchase the contents of the 27-acre iron oxide tailings pond in
Tronox LLC's facility in Theodore, Alabama.

In response, the Debtors argue that the intention is an improper
attempt by Metawise to substitute its business judgment for that
of Tronox, Inc., and that the Court should deny Metawise's
intention.

The Site was operated as a synthetic rutile ore processing
facility prior to the Debtors' spinoff from Kerr-McGee
Corporation.

Richard M. Cieri, Esq., at Kirkland & Ellis LLP, in New York,
relates that the Debtors have received inquiries from three
parties, including Metawise, who are interested in purchasing the
iron oxide at the Site.  He reveals that Tronox currently is
discussing the proposals internally, with The Alabama Department
of Public Health and with the Environmental Protection Agency,
which is an interested party because the Debtors have proposed to
contribute the Site to the environmental response trusts to be
created pursuant to their proposed Chapter 11 Plan of
Reorganization.  He notes that the Debtors have not yet
determined which offer for the iron oxide is highest or otherwise
best.

Section 363 of the Bankruptcy Code provides that a debtor, after
notice and a hearing, may use, sell, or lease, other than in the
ordinary course of business, property of the estate.

Mr. Cieri contends that although Section 363 does not specify a
standard for determining when it is appropriate for a court to
authorize the use, sale or lease of property of the estate, the
Second Circuit has required that the use, sale or lease be based
upon the sound business judgment of the debtor.

Accordingly, it is the Debtors' business judgment, and not that
of Metawise, that should determine if, when and to whom the
Debtors sell the iron oxide at the Site, Mr. Cieri argues.

"As strong as Metawise's interest in the iron oxide at the Site
may be, it cannot force Tronox to sell such property to
Metawise," Mr. Cieri says.

                       About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on January 13, 2009 (Bankr.
S.D.N.Y. Case No. 09-10156).  The case is before Hon. Allan L.
Gropper. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and
Colin M. Adams, Esq., at Kirkland & Ellis LLP in New York,
represent the Debtors.  The Debtors also tapped Togut, Segal &
Segal LLP as conflicts counsel; Rothschild Inc. as investment
bankers; Alvarez & Marsal North America LLC, as restructuring
consultants; and Kurtzman Carson Consultants serves as notice and
claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders have been appointed in the
cases.  The Creditors Committee has retained Paul, Weiss, Rifkind,
Wharton & Garrison LLP as counsel.

Until September 30, 2008, Tronox Inc. was publicly traded on the
New York Stock Exchange under the symbols TRX and TRX.B.  Since
then, Tronox Inc. has traded on the Over the Counter Bulletin
Board under the symbols TROX.A.PK and TROX.B.PK.  As of
December 31, 2008, Tronox Inc. had 19,107,367 outstanding shares
of class A common stock and 22,889,431 outstanding shares of class
B common stock.

Bankruptcy Creditors' Service, Inc., publishes Tronox Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Tronox Inc. and its 14 affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRONOX INC: Files Bankr. Rule 2015.3 Report for June 30
-------------------------------------------------------
Pursuant to Rule 2015.3 of the Federal Rules of Bankruptcy
Procedure, the Debtors submitted to the Court a report regarding
value, operations and profitability of entities in which they
hold a substantial or controlling interest as of June 30, 2010.

The Debtors disclose that they hold a 30% to 50% interest in four
entities.  They also hold a 100% interest in 11 entities, which
include Tronox (Luxembourg) Holding S.a.r.l.; Tronox
(Switzerland) Holding GmbH; Tronox B.V.; and Tronox Funding LLC.

The Report also include copies of balance sheets for entities
held by the Debtors as of June 30, 2010, and statements of
operations for entities held by the Debtors for the six-month
period ended June 30, 2010.

A full-text copy of the 2015.3 Report is available for free at:

           http://bankrupt.com/misc/Trnx2015Rep1.pdf

                       About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on January 13, 2009 (Bankr.
S.D.N.Y. Case No. 09-10156).  The case is before Hon. Allan L.
Gropper. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and
Colin M. Adams, Esq., at Kirkland & Ellis LLP in New York,
represent the Debtors.  The Debtors also tapped Togut, Segal &
Segal LLP as conflicts counsel; Rothschild Inc. as investment
bankers; Alvarez & Marsal North America LLC, as restructuring
consultants; and Kurtzman Carson Consultants serves as notice and
claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders have been appointed in the
cases.  The Creditors Committee has retained Paul, Weiss, Rifkind,
Wharton & Garrison LLP as counsel.

Until September 30, 2008, Tronox Inc. was publicly traded on the
New York Stock Exchange under the symbols TRX and TRX.B.  Since
then, Tronox Inc. has traded on the Over the Counter Bulletin
Board under the symbols TROX.A.PK and TROX.B.PK.  As of
December 31, 2008, Tronox Inc. had 19,107,367 outstanding shares
of class A common stock and 22,889,431 outstanding shares of class
B common stock.

Bankruptcy Creditors' Service, Inc., publishes Tronox Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Tronox Inc. and its 14 affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TRONOX INC: Holds Talks With Gov. on Environmental Claims
---------------------------------------------------------
Tronox Inc. held talks with the United States Government to
resolve environmental-damage claims so that Tronox can proceed
with its reorganization, Bloomberg News reports.

"We've had constructive negotiations with the government,"
Bloomberg News quoted Jonathan Henes, at Kirkland & Ellis LLP, in
New York, who appeared in the U.S. Bankruptcy Court in Manhattan.

Tronox is pursuing a lawsuit alleging that Anadarko Petroleum
Corporation and Kerr-McGee Corporation saddled it with
$550 million in debt and as much as $900 million in pollution
liabilities in a 2006 spinoff.

                       About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection on January 13, 2009 (Bankr.
S.D.N.Y. Case No. 09-10156).  The case is before Hon. Allan L.
Gropper. Richard M. Cieri, Esq., Jonathan S. Henes, Esq., and
Colin M. Adams, Esq., at Kirkland & Ellis LLP in New York,
represent the Debtors.  The Debtors also tapped Togut, Segal &
Segal LLP as conflicts counsel; Rothschild Inc. as investment
bankers; Alvarez & Marsal North America LLC, as restructuring
consultants; and Kurtzman Carson Consultants serves as notice and
claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders have been appointed in the
cases.  The Creditors Committee has retained Paul, Weiss, Rifkind,
Wharton & Garrison LLP as counsel.

Until September 30, 2008, Tronox Inc. was publicly traded on the
New York Stock Exchange under the symbols TRX and TRX.B.  Since
then, Tronox Inc. has traded on the Over the Counter Bulletin
Board under the symbols TROX.A.PK and TROX.B.PK.  As of
December 31, 2008, Tronox Inc. had 19,107,367 outstanding shares
of class A common stock and 22,889,431 outstanding shares of class
B common stock.

Bankruptcy Creditors' Service, Inc., publishes Tronox Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by Tronox Inc. and its 14 affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


TTR MATESSON: Wants Filing of Schedules Extended Until Aug. 16
--------------------------------------------------------------
TTR Matteson, LLC, has asked the U.S. Bankruptcy Court for the
Northern District of Illinois to extend the deadline for the
filing of schedules of assets and liabilities and statement of
financial affairs until August 16, 2010.

The current deadline for the schedules and statement is August 2,
2010.  The Debtor says that it is in the process of gathering all
of the information necessary to complete its schedules and
statement.

Oak Brook, Illinois-based TTR Matteson, LLC, owns three commercial
properties.  The Company filed for Chapter 11 bankruptcy
protection on July 19, 2010 (Bankr. N.D. Ill. Case No. 10-31879).
Scott R. Clar, Esq., at Crane Heyman Simon Welch & Clar, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $10,000,001 to $50,000,000.


TTR MATTESON: Inland Mortgage Wants Ch 11 Bankr. Case Dismissed
---------------------------------------------------------------
Secured creditor Inland Mortgage Capital Corporation has asked the
Hon. A. Benjamin Goldgar of the U.S. Bankruptcy Court for the
Northern District of Illinois to dismiss TTR Matteson, LLC's
Chapter 11 bankruptcy case or, in the alternative, grant IMCC
relief from the automatic stay.

On or about September 11, 2006, IMCC loaned the Debtor a principal
sum of $10,800,000 by executing and delivering an Installment
Note.  The Debtor and IMCC entered into Loan Modification
Agreement on June 20, 2007, increasing the amount of the Loan to
$11,760,000.00, and amending the Note to reflect the new principal
amount.  Pursuant to the Note, the maturity date for the Loan was
September 30, 2009.  The Debtor failed to make the required
payment of all principal and accrued and unpaid interest on the
Maturity Date  As of the Petition Date, IMCC was owed more than
$13,528,305.75 (plus attorneys' fees) by the Debtor.

On March 10, 2010, IMCC commenced a foreclosure action against,
inter alia, the Debtor, to foreclose the Mortgage by filing a
Summons and Verified Complaint for Foreclosure and Other Relief
(the Complaint) in the Circuit Court of Cook County, Illinois (the
State Court).

In the Foreclosure Action, IMCC maintains that pursuant to the
terms of the Loan Documents, IMCC is entitled to recover the
entire unpaid principal balance, along with all accrued interest,
late fees, costs and expenses, and to obtain a judgment of
foreclosure and sale.

On June 15, 2010, the Debtor, along with defendants Tim Gallagher,
Marcella Gallagher, Tim Donohue and Ron March (the Answering
Defendants), served their Verified Answer to the Complaint (the
Answer).  Significantly, in the Answer, the Answering Defendants
admit the execution and delivery of the subject Loan Documents,
and that it failed to make the required payment to IMCC on the
Maturity Date.

On July 9, 2010, IMCC served a motion for the appointment of a
receiver over the Property.  A hearing on the motion was scheduled
for July 19, 2010.  On July 19, 2010, just before the State Court
was to appoint a receiver over the Property, the Debtor filed for
bankruptcy protection.

According to IMCC, the Debtor's bankruptcy case was filed in bad
faith and should be dismissed.  IMCC says that the Debtor's
"Chapter 11 case is dead on arrival.  The Debtor has no employees,
few unsecured creditors, and no possible means of reorganizing.
The Property is an industrial building and two adjacent vacant
industrial lots located in Matteson, Illinois.  The Debtor has no
equity in the Property, does not intend to infuse money into the
Property, and the Property does not generate anywhere close to the
cash flow required to pay taxes and service the current debt load.
The Property, which is fully encumbered by IMCC's first priority
lien, is currently the subject of a foreclosure proceeding, and a
receiver was to have been appointed on the very day the Debtor
filed its Chapter 11 petition."

IMCC states, "The Debtor seems intent on using the bankruptcy
process to attempt to leverage IMCC into a deeply discounted sale
of its interest in the Property or a piecemeal sale of the most
valuable portions of its collateral.  This Court should not
countenance the Debtor's efforts to use Chapter 11 solely to
frustrate IMCC's legitimate exercise of its contractual and legal
rights."

IMCC asks that alternatively, if the Court is not inclined to
dismiss the case at this time, it grant IMCC relief from the
automatic stay so that the Foreclosure Action and any disputes the
Debtor has with IMCC may be brought to a conclusion.  Relief from
stay will enable IMCC to protect the Property, its collateral, by
seeking the appointment of a receiver for the Property in the
State Court.

IMCC is represented by Inland Mortgage Capital Corporation.

                         About TTR Matteson

Oak Brook, Illinois-based TTR Matteson, LLC, owns three commercial
properties.  The Company filed for Chapter 11 bankruptcy
protection on July 19, 2010 (Bankr. N.D. Ill. Case No. 10-31879).
Scott R. Clar, Esq., at Crane Heyman Simon Welch & Clar, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $10,000,001 to $50,000,000.


TTR MATTESON: Section 341(a) Meeting Scheduled for August 31
------------------------------------------------------------
The U.S. Trustee for Region 11 will convene a meeting of TTR
Matteson, LLC's creditors on August 31, 2010, at 1:30 p.m.  The
meeting will be held at 219 South Dearborn, Office of the U.S.
Trustee, 8th Floor, Room 804, Chicago, Illinois 60604.

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.

Oak Brook, Illinois-based TTR Matteson, LLC, owns three commercial
properties.  The Company filed for Chapter 11 bankruptcy
protection on July 19, 2010 (Bankr. N.D. Ill. Case No. 10-31879).
Scott R. Clar, Esq., at Crane Heyman Simon Welch & Clar, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $10,000,001 to $50,000,000.


TTR MATTESON: Taps Crane Heyman as Bankruptcy Counsel
-----------------------------------------------------
TTR Matteson, LLC, has asked for authorization from the U.S.
Bankruptcy Court for the Northern District of Illinois to employ
the Law Firm of Crane, Heyman, Simon, Welch & Clar as bankruptcy
counsel.

CHSWC will:

     a. prepare applications, motions, answers, orders, adversary
        proceedings, reports and other legal papers;

     b. provide the Debtor with legal advice with respect to its
        rights and duties involving its property as well as its
        reorganization efforts herein;

     c. appear in court and to litigate whenever necessary; and

     d. perform any and all other legal services that may be
        required from time to time in the ordinary course of the
        Debtor's business during the administration of the
        Debtor's bankruptcy case.

Prior to the filing of the Debtor's Chapter 11 case, CHSWC was
paid $50,000 by the Debtor as an advance payment retainer for its
representation of the Debtor in the bankruptcy case and matters
relating thereto.

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

Oak Brook, Illinois-based TTR Matteson, LLC, owns three commercial
properties.  The Company filed for Chapter 11 bankruptcy
protection on July 19, 2010 (Bankr. N.D. Ill. Case No. 10-31879).
Scott R. Clar, Esq., at Crane Heyman Simon Welch & Clar, assists
the Company in its restructuring effort.  The Company estimated
its assets and debts at $10,000,001 to $50,000,000.


UAL CORP: Generated $1.9 Bil. Baggage Fees Revenue in 2009
----------------------------------------------------------
United Air Lines, Inc., recorded $1.9 billion in ancillary
revenues, ranked as the largest fee income of any carrier in the
world in 2009, Chicago Tribune reports citing a study by airline
consultancy firms Ideaworks and Amadeus.

The proliferation of checked bag fees in the U.S. and much of
Europe accounted for the startling jump in this source of airline
revenue, Jay Sorensen, president of Wisconsin-based IdeaWorks,
explained, Tribune notes.

Tribune also reports that only about 40% of United passengers pay
to check bags, generating $350 million to $450 million annually
for United.  However, United President John Tague said United's
annual baggage revenues could top $1 billion over time, as
carriers in regions like Asia adopt similar changes, the report
adds.

                    About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.

Reorganized UAL Corp. carries a 'Caa1' probability of default
rating from Moody's, 'B-' long term foreign issuer credit rating
from Standard & Poor's, and 'CCC' long term issuer default rating
from Fitch.

At June 30, 2010, UAL had $20.134 billion in total assets against
total current liabilities of $8.573 billion, long-term debt of
$6.281 billion, long-term obligations under capital leases of
$1.01 billion, and other liabilities and deferred credits of
$7.022 billion, resulting in stockholders' deficit of
$2.756 billion.


UAL CORP: PBGC Blamed for Discrepancies on Pension Audits
---------------------------------------------------------
An audit made by the Pension Benefit Guaranty Corporation of four
United Air Lines, Inc. pensions taken over by the agency in 2005
"did not exercise due professional care in their work," Doug
Halonen of Pensions & Investments reports, citing a review by PBGC
Inspector General Rebecca Ann Batts.

Ms. Batts said in a July 20, 2010 letter to U.S. Representative
George Miller that the PBGC also did not "properly oversee the
work and failed to identify or follow-up on errors and omissions
in the work," Mr. Halonen notes.  Ms. Batts added in the July 20
letter that the issues surrounding the inadequate plan asset
audits were so significant that additional, more detailed
evaluation is warranted, Mr. Halonen relates.

In a separate letter sent to the PBGC Director Joshua Gotbaum, Mr.
Miller stated that the asset audits are crucial because they are
used to calculate the benefits of the participants in plans the
agency takes over, Mr. Halonen discloses.  "I urge you to work
with the Office of Inspector General to determine the scope and
severity of the problem and to properly hold accountable any
contractor or employee who failed to execute their duties in the
manner consistent with the requirements of the law," Mr. Miller
wrote in his letter, Mr. Halonen says.

When the PBGC took over the UAL plans, they were unfunded by
$9.8 billion and only $6.6 billion of that was guaranteed, Mr.
Halonen notes, citing an April 22, 2005 public statement of the
PBGC.

                    About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.

Reorganized UAL Corp. carries a 'Caa1' probability of default
rating from Moody's, 'B-' long term foreign issuer credit rating
from Standard & Poor's, and 'CCC' long term issuer default rating
from Fitch.

At June 30, 2010, UAL had $20.134 billion in total assets against
total current liabilities of $8.573 billion, long-term debt of
$6.281 billion, long-term obligations under capital leases of
$1.01 billion, and other liabilities and deferred credits of
$7.022 billion, resulting in stockholders' deficit of
$2.756 billion.


UAL CORP: Postpones Move to Willis Tower Due to Merger
------------------------------------------------------
United Air Lines, Inc., said it is delaying moving its operations
control to Willis Tower until early 2012 after determining that
combining its critical nerve center with that of Continental Air
Lines, Inc., would be more complex than it expected, Julie
Johnsson of Chicago Tribune relates.

United's decision comes as the carrier and United are shaping the
new management of the combined airline.

United previously planned to move 350 staffers at its operations
in Elk Grove Township to Willis Center this year, as part of the
2,500 workers it is shifting downtown with $35.9 million in
subsidies from the city, Ms. Johnsson notes.  Instead, the
operations staffers' moving day will be closer to the time when
United and Continental will obtain a single operating certificate
from the Federal Aviation Administration, she explains.

However, other United workers will begin to move from Elk Grove as
scheduled, Ms. Johnsson says, citing unnamed sources.  United is
also redesigning the area in Willis Center for flight dispatchers
and others who eventually will guide its aircraft around the
world, she adds.

                    About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA) --
http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest air
carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for Chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and Steven
R. Kotarba, Esq., at Kirkland & Ellis, represented the Debtors in
their restructuring efforts.  Fruman Jacobson, Esq., at
Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors.  Judge Eugene R. Wedoff
confirmed a reorganization plan for United on Jan. 20, 2006.  The
Company emerged from bankruptcy on Feb. 1, 2006.

Reorganized UAL Corp. carries a 'Caa1' probability of default
rating from Moody's, 'B-' long term foreign issuer credit rating
from Standard & Poor's, and 'CCC' long term issuer default rating
from Fitch.

At June 30, 2010, UAL had $20.134 billion in total assets against
total current liabilities of $8.573 billion, long-term debt of
$6.281 billion, long-term obligations under capital leases of
$1.01 billion, and other liabilities and deferred credits of
$7.022 billion, resulting in stockholders' deficit of
$2.756 billion.


U.S. CONCRETE: Court Confirms Plan of Reorganization
----------------------------------------------------
U.S. Concrete, Inc. disclosed that the U.S. Bankruptcy Court
granted the Company's request to confirm its Plan of
Reorganization, paving the way for the Company's emergence from
chapter 11 proceedings.  The voting reflected overwhelming support
for the Plan, with over 99% of creditors and over 85% of
shareholders who submitted ballots, voting to approve the Plan.

"Today's ruling represents a significant milestone in our
restructuring process.  We are very pleased with the clear and
convincing support provided by our creditors and shareholders,"
said Michael W. Harlan, President and Chief Executive Officer of
U.S. Concrete.  "We would not have been able to have our plan
confirmed in such an expedited manner without the incredible
effort and commitment of our team of employees and advisors, and
the continued support of our customers, vendors and banks.  With a
healthier balance sheet, we can renew our focus on managing our
business and servicing our customers."

As previously announced, the Company's Plan provides for the
conversion of approximately $285 million of principal amount of
8.375% Senior Subordinated Notes due 2014 into equity of the
reorganized company.  Trade creditors are currently being paid in
full in the ordinary course and are unaffected by the
restructuring.  The Company currently expects to emerge from
chapter 11 by the end of August, 2010.

Bloomberg News reported that among noteholders who voted, 99.97%
favored the plan.  Although some shareholders said they were
entitled to more than warrants for 15% of the stock, 88% of the
shareholder class voted "yes."

                      About U.S. Concrete

Houston, Tex.-based U.S. Concrete, Inc., aka RMX Industries, Inc.,
is a major producer of ready-mixed concrete, precast concrete
products and concrete-related products in select markets in the
United States.

The Company filed for Chapter 11 bankruptcy protection on
April 29, 2010 (Bankr. D. Del. Case No. 10-11407).  Patrick J.
Nash Jr., Esq., and Ross M. Kwasteniet, Esq., at Kirkland & Ellis
LLP, assist the Company in its restructuring effort as bankruptcy
counsel.  James E. O'Neill, Esq., Laura Davis Jones, Esq., and
Mark M. Billion, Esq., at Pachulski Stang Ziehl & Jones LLP, is
the Company's co-counsel.  Epiq Bankruptcy Solutions is the
Company's claims agent.

According to the schedules, the Company says that assets total
$389,160,000 while debts total $399,351,000.

The Debtor's affiliates, Alberta Investments, Inc., et al., filed
separate Chapter 11 petitions on April 29, 2010.


US FOODSERVICE: Bank Debt Trades at 13% Off in Secondary Market
---------------------------------------------------------------
Participations in a syndicated loan under which U.S. Foodservice,
Inc., is a borrower traded in the secondary market at 86.73 cents-
on-the-dollar during the week ended Friday, July 30, 2010, an
increase of 1.20 percentage points from the previous week,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  The Company pays 275 basis points above
LIBOR to borrow under the facility.  The bank loan matures on
July 3, 2014, and carries Moody's B2 rating while it is not rated
by Standard & Poor's.  The loan is one of the biggest gainers and
losers among 193 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

U.S. Foodservice, Inc. -- http://www.usfoodservice.com/-- is a
foodservice supplier serving some 250,000 customers from more than
70 distribution facilities.  The Company supplies restaurants,
hotels, school, and other foodservice operators with a wide
variety of food products, including canned and dry foods, meats,
frozen foods, and seafood.  It also distributes kitchen equipment
and cleaning supplies among other non-food supplies.  U.S.
Foodservice distributes both national brand products and its own
private labels.  Tracing its roots to 1853, the company is owned
by private equity firms KKR & Co. and Clayton, Dubilier & Rice.


VITERRA INC: Moody's Assigns 'Ba1' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service assigned a Ba1 rating to Viterra, Inc.'s
proposed rule 144A US$ notes.  Viterra's Ba1 Corporate Family
Rating and other ratings were affirmed.  Proceeds from the
proposed notes are to be used for debt reduction and for general
corporate purposes.  The outlook is stable.

The proposed notes are expected to rank pari passu with all of
Viterra's existing and future senior unsecured indebtedness
including its recent C$1.6 billion global unsecured guaranteed
revolving credit facility executed in May 2010.  Viterra's
Speculative Grade Liquidity Rating of SGL-2 indicating a good
liquidity profile over the next 12 months was also affirmed.

The proposed notes and the executed C$1.6 billion global revolving
credit facility follow the September 2009 acquisition of ABB Grain
Ltd. of Australia.  While the C$1.4 billion acquisition was
comprised of a prudent mix of 50% equity and 50% cash, the lack of
a global unsecured revolving credit facility had been a modest
credit concern.  Future draws under a recently rated shelf (filed
in Canada), if used to pay down short term debt, will likely
improve the overall credit and maturity profile of Viterra.
Specific benefits achieved through this proposed note issuance
include: an improved maturity schedule, decrease in interest rate,
and covenant consistency.  The unsecured structure of Viterra's
new credit facilities is a clear credit positive, as unsecured
revolvers/debt are typically commensurate with investment grade
ratings, while secured debt is unusual at the investment grade
level.

The Ba1 ratings reflect the growth aspirations of Viterra
management and incorporate an expectation of the financial impact
of future acquisition activity.  Prior to a positive rating move
Moody's would look for the agricultural market dynamics to remain
healthy and stable, for continued success by management at
integrating ABB and other recent and potential acquisitions, and
an expectation that investment grade credit metrics willbe
achieved and sustained over a multi-year period.  The generation
of free cash flow is a typical trait for investment grade issuers,
thus a free cash flow to debt ratio of over 8% on a sustainable
basis would be seen as a positive for the rating.

The stable outlook incorporates the assumption that future
acquisition activity of material size would be prudently financed.
The outlook also reflects Moody's desire to see Viterra perform
over a longer period of time with its relatively new consolidated
group of assets given the acquisition related growth strategy that
management has undertaken.  Viterra's annual revenues have grown
from C$1.5 billion at the end of 2006 to C$7.5 billion for the LTM
period ending April 30, 2010, and ABB could add C$2 billion in
revenues in 2010 to the C$6.6 billion 2009 Viterra stand-alone
revenues.  Total assets were estimated to approach C$6.1 billion
at the end of April 2010 up from C$774 million at the end of July
2006 an increase of over 680% over the last 45 months.

Issuer: Viterra Inc.

Affirmations

  -- Corporate Family Rating- Ba1

  -- Probability of Default Rating - Ba1

  -- Senior Unsecured Regular Bond/Debentures rated Ba1, LGD4, 57%
     moved from LGD4, 58%

Assignments:

  -- Senior Unsecured Rule 144A notes rated Ba1, LGD4, 57%

Viterra's SGL-2 rating, reflecting a good liquidity profile, is
indicative of the company's significant cash generating
capabilities, balanced by the high seasonal demands on working
capital for its grain handling and agriproducts businesses (over
75% of Viterra's agriproducts are delivered from April through
June).  Ongoing liquidity concerns for grain processors center on
volatility of crop and farm input pricing.  For example, a
significant increase in the cost of commodity grains can increase
the working capital burden for Viterra and other processors, and
these price movements will increase the cash requirements in
managing the business.  Viterra's liquidity is supported by its
sizeable cash and marketable securities of approximately
C$480 million as of the second quarter filings ending April 30,
2010.  Additionally, Moody's estimate that Viterra had about
C$400 million drawn on the new C$1.6 billion global multi currency
credit facility at closing; the facility is used for managing the
seasonal swings in working capital.  Sustaining capital spending
for 2010 is estimated at C$140 million.  Viterra does not pay a
dividend on its common stock and the company further benefits from
having no near term maturities of its long-term debt.

Moody's most recent announcement concerning the ratings for
Viterra was on July 23rd, 2010, when Moody's affirmed the CFR and
assigned a Ba1 to the proposed senior notes shelf executed by the
issuer.

Viterra Inc., formerly known as Saskatchewan Wheat Pool Inc., is
headquartered in Regina, Saskatchewan, and is the largest grain
handler in Canada.  The Viterra entity was formed on May 29, 2007
after the acquisition of Agricore United by Saskatchewan Wheat
Pool.  Viterra operates through three business segments; Grain
Handling and Marketing, Agri-Products, and Processing, but derives
the majority of their income through the Grain Handling and
Marketing and Agri-Products business segment.  In September 2009
Viterra acquired ABB for A$1.6 billion (C$1.4 billion) with 50%
equity and 50% cash, adding global diversity, improved access to
Asia, and market share.  Revenues were C$7.5 billion for the 12
month period ending third-quarter April 30, 2010.


WEST CORP: Bank Debt Trades at 5% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which West Corporation
is a borrower traded in the secondary market at 94.65 cents-on-
the-dollar during the week ended Friday, July 30, 2010, an
increase of 0.92 percentage points from the previous week,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  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 193 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 3% Off in Secondary Market
---------------------------------------------------------
Participations in a syndicated loan under which West Corporation
is a borrower traded in the secondary market at 96.77 cents-on-
the-dollar during the week ended Friday, July 30, 2010, an
increase of 1.04 percentage points from the previous week,
according to data compiled by Loan Pricing Corp. and reported in
The Wall Street Journal.  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 193 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.


XENONICS HOLDINGS: Appeals Notice of Delisting from NYSE Amex
-------------------------------------------------------------
Xenonics Holdings, Inc. has received notice from the NYSE Amex
that the company failed to regain compliance with continued
listing standards and, accordingly, the Company's securities are
subject to delisting proceedings.  Specifically, Xenonics is not
in compliance with Section 1003(a)(iii) of the Company Guide
because it has shareholders' equity of less than $6,000,000.

In accordance with Sections 1203 and 1009(d) of the Company Guide,
Xenonics has the right to appeal the Staff Determination by
requesting a hearing before a Listing Qualifications Panel. The
Company plans to exercise this right, and expects the hearing to
occur within the next 45 to 60 days.  In the meantime, the
Company's securities will continue to be listed on the NYSE Amex.

                        About Xenonics

Xenonics Holdings, Inc. -- http://www.xenonics.com--  develops
and produces advanced, lightweight and compact ultra-high-
intensity illumination and low-light vision products for military,
law enforcement, public safety, and commercial and private sector
applications.  Xenonics' NightHunter line of illumination products
is used by every branch of the U.S. Armed Forces as well as law
enforcement and security agencies.  Its SuperVision high-
definition night vision is designed for commercial and military
applications. Employing patented technologies, Xenonics provides
innovative solutions for customers who must see farther so they
can do their jobs better and safer.  Xenonics' products represent
the next generation in small, high intensity, high efficiency
illumination and low-light vision systems.


ZALE CORP: Inks Warrants & Rights Agreement with Z Investment
-------------------------------------------------------------
Zale Corporation entered into a Warrant and Registration Rights
Agreement with Z Investment Holdings, LLC.  The warrants issued
under the Agreement were issued in two series, A-Warrants
exercisable for 6,389,378 shares of Common Stock, and B-Warrants
exercisable for 4,675,306 shares of Common Stock.  The B-Warrants,
and in the event of certain anti-dilution adjustments a portion of
the A-Warrants as well, initially were exercisable for shares of
Series A Preferred Stock.

The terms of the Warrants provided that upon stockholder approval,
which Zale was obligated to attempt to obtain, these two portions
of the Warrants instead would be exercisable for Common Stock.

On July 23, 2010, Zale's stockholders approved the issuance of
Common Stock upon exercise of these two portions of the Warrants
and, as a result, all of the Warrants are now immediately
exercisable for shares Common Stock.

Dallas, Texas-based Zale Corporation (NYSE: ZLC) --
http://www.zalecorp.com/-- is a specialty retailer of diamonds
and other jewelry products in North America, operating roughly
1,900 retail locations throughout the United States, Canada and
Puerto Rico, as well as online.  Zale Corporation's brands include
Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples
Jewellers, Mappins Jewellers and Piercing Pagoda.  Zale also
operates online at www.zales.com, www.zalesoutlet.com and
www.gordonsjewelers.com

As reported by the Troubled Company Reporter on February 10, 2010,
The Deal.com's Sara Behunek reported that analysts said bankruptcy
looms for Zale if it fails to restructure its debt and put in
place a solid merchandising strategy.


WHITNEY HOLDING: S&P Cuts Counterparty Credit Rating to 'BB'
------------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its
counterparty credit rating on Whitney Holding Corp. to 'BB' from
'BB+'.  S&P also lowered the counterparty credit ratings on
banking subsidiary Whitney National Bank to 'BB+/B' from 'BBB-/A-
3'.

The outlooks are negative.

"The downgrade reflects S&P's view that Whitney's credit measures
could continue to deteriorate beyond its earlier expectations and
relative to peers'," said Standard & Poor's credit analyst Daniel
E. Teclaw.  "Moreover, Whitney's earnings fundamentals are weaker
than peers' and could continue to be surpassed by credit costs
through 2010 and into 2011."

However, Whitney's capital is somewhat higher than many peers',
and S&P considers it adequate for the ratings.  S&P believes the
company should maintain higher capital than peers' because of the
especially weak economy in the U.S. Southeast, the bank's large
proportion of construction and commercial real estate (CRE) loans,
and its exposures to borrowers who could be affected by the recent
Gulf of Mexico oil spill.

Positively, the company has built its loan-loss reserve to buffer
its capital.

S&P had originally expected the company to show some signs of
credit stabilization, similar to many other peers, in the quarter
ended June 30, 2010.  However, nonperforming assets and net
charge-offs rose sequentially.

Florida problem loans remain high, even though the bank has
conservatively written down its impaired loans.  The Texas CRE
portfolios is also now showing some weakness.

"Based on S&P's general economic outlook, S&P project commercial
construction activity to remain weak, at least through the rest of
2010," Mr. Teclaw added.  "S&P also expects to see further
weakness in the company's eastern Texas market, especially in
construction and development loans -- one-third of its
construction, land, and land development portfolio."

S&P expects further credit deterioration, given the company's
Southeastern footprint.


* Home Foreclosures Increasing in 74% of Metro Areas
----------------------------------------------------
Home foreclosures in the first six months of 2010 increased in 154
of 209 metropolitan areas with populations over 200,000, Bloomberg
News said, citing a July 29 report by RealtyTrac Inc.

RealtyTrac said the foreclosure rate declined in nine of the 10
areas with the highest rates, indicating that foreclosures are
spreading beyond the areas that were hard-hit first.  The states
with the highest foreclosure rates are Florida, California, Nevada
and Arizona.


* S&P's 2010 Defaults Total at 46 After American Safety Files
-------------------------------------------------------------
American Safety Razor Co., a U.S.-based consumer products company,
filed for Chapter 11 last week, raising the year-to-date 2010
global corporate default tally to 46, said an article published by
Standard & Poor's, titled "Global Corporate Default Update (July
23 - 29, 2010) (Premium)."

By region, the current year-to-date default tallies are 33 in the
U.S., two in Europe, five in the emerging markets, and six in the
other developed region (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 12, regulatory directives
and receiverships are responsible 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 S&P's 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.  Its 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&Ps
pessimistic scenario is the same as the long-term (1981 to 2009)
average default rate.  S&P's 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.


* 5 Bank Closings Last Friday Bring Year's Total to 108
-------------------------------------------------------
Five U.S. banks were taken over by regulators on July 30, 2010,
bringing total bank failures for the year to 108.  Last Friday's
failures will cost the Federal Deposit Insurance Corp. a combined
$334.7 million.

The five banks closed Friday were LibertyBank, Eugene, OR;
The Cowlitz Bank, Longview, WA; Coastal Community Bank, Panama
City, FL; Bayside Savings Bank, Port Saint Joe, FL; and NorthWest
Bank & Trust, Acworth, GA.

The FDIC was able to sign deals for the banks to take over the
deposits of the failed banks.  Centennial Bank, Conway, Arkansas,
has signed a deal to assume all the deposits and essentially all
the assets of Bayside Savings and Coastal Community.

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)
-----------       ----------   --------------      -----------
LibertyBank             $768.2    Home Federal Bank       $115.3
The Cowlitz Bank        $529.3    Heritage Bank            $68.9
Coastal Community       $372.9    Centennial Bank          $94.5
Bayside Savings          $66.1    Centennial Bank          $16.2
NorthWest Bank          $167.7    State Bank and Trust     $39.8

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


* BOND PRICING -- For the Week From July 26 to 30, 2010
-------------------------------------------------------

  Company          Coupon       Maturity  Bid Price
  -------          ------       --------  ---------
155 E TROPICANA      8.750%     4/1/2012     5.506
ABITIBI-CONS FIN     7.875%     8/1/2009    12.500
ADVANTA CAP TR       8.990%   12/17/2026    13.125
AHERN RENTALS        9.250%    8/15/2013    37.000
AMBAC INC            9.375%     8/1/2011    48.363
AT HOME CORP         0.525%   12/28/2018     0.504
BANK NEW ENGLAND     8.750%     4/1/1999    12.250
BANK NEW ENGLAND     9.875%    9/15/1999    10.000
BANKUNITED FINL      6.370%    5/17/2012     5.250
BLOCKBUSTER INC      9.000%     9/1/2012     7.000
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    32.000
CELL THERAPEUTIC     7.500%    4/30/2011    80.600
CHENIERE ENERGY      2.250%     8/1/2012    46.500
COLLINS & AIKMAN    10.750%   12/31/2011     0.010
EDDIE BAUER HLDG     5.250%     4/1/2014     5.000
EVERGREEN SOLAR      4.000%    7/15/2013    28.000
FAIRPOINT COMMUN    13.125%     4/2/2018     8.813
FINLAY FINE JWLY     8.375%     6/1/2012     3.000
GASCO ENERGY INC     5.500%    10/5/2011    59.750
GENERAL MOTORS       7.125%    7/15/2013    35.100
GENERAL MOTORS       9.450%    11/1/2011    30.000
GREAT ATLA & PAC     5.125%    6/15/2011    76.500
GREAT ATLA & PAC     6.750%   12/15/2012    55.200
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
INN OF THE MOUNT    12.000%   11/15/2010    45.125
KEYSTONE AUTO OP     9.750%    11/1/2013    38.500
LANDRY'S RESTAUR     9.500%   12/15/2014    85.000
LEHMAN BROS HLDG     0.250%    2/16/2012    18.500
LEHMAN BROS HLDG     4.500%     8/3/2011    18.760
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    20.750
LEHMAN BROS HLDG     5.000%    1/14/2011    20.000
LEHMAN BROS HLDG     5.000%    1/22/2013    18.550
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    18.760
LEHMAN BROS HLDG     5.150%     2/4/2015    18.760
LEHMAN BROS HLDG     5.250%     2/6/2012    20.150
LEHMAN BROS HLDG     5.250%    1/30/2014    19.750
LEHMAN BROS HLDG     5.250%    2/11/2015    18.500
LEHMAN BROS HLDG     5.350%    2/25/2018    18.760
LEHMAN BROS HLDG     5.500%     4/4/2016    19.800
LEHMAN BROS HLDG     5.500%     2/4/2018    18.760
LEHMAN BROS HLDG     5.500%    2/19/2018    18.760
LEHMAN BROS HLDG     5.600%    1/22/2018    18.375
LEHMAN BROS HLDG     5.625%    1/24/2013    21.000
LEHMAN BROS HLDG     5.700%    1/28/2018    18.375
LEHMAN BROS HLDG     5.750%    4/25/2011    20.000
LEHMAN BROS HLDG     5.750%    7/18/2011    20.500
LEHMAN BROS HLDG     5.750%    5/17/2013    19.994
LEHMAN BROS HLDG     5.875%   11/15/2017    20.050
LEHMAN BROS HLDG     6.000%    7/19/2012    20.750
LEHMAN BROS HLDG     6.000%    6/26/2015    16.600
LEHMAN BROS HLDG     6.000%   12/18/2015    18.375
LEHMAN BROS HLDG     6.000%    2/12/2018    18.250
LEHMAN BROS HLDG     6.000%    2/12/2020    17.800
LEHMAN BROS HLDG     6.200%    9/26/2014    21.500
LEHMAN BROS HLDG     6.500%     3/6/2023    17.000
LEHMAN BROS HLDG     6.625%    1/18/2012    21.750
LEHMAN BROS HLDG     6.875%     5/2/2018    22.125
LEHMAN BROS HLDG     7.000%    4/16/2019    18.750
LEHMAN BROS HLDG     7.050%    2/27/2038    18.250
LEHMAN BROS HLDG     7.100%    3/25/2038    17.900
LEHMAN BROS HLDG     7.250%    2/27/2038    18.375
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    20.000
LEHMAN BROS HLDG     8.000%     3/5/2022    18.375
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    18.500
LEHMAN BROS HLDG     8.500%    6/15/2022    18.550
LEHMAN BROS HLDG     8.750%   12/21/2021    18.500
LEHMAN BROS HLDG     8.800%     3/1/2015    19.600
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    18.500
MAGNA ENTERTAINM     7.250%   12/15/2009     9.000
MAGNA ENTERTAINM     8.550%    6/15/2010    15.250
NEWPAGE CORP        10.000%     5/1/2012    57.600
NEWPAGE CORP        12.000%     5/1/2013    29.500
NORTH ATL TRADNG     9.250%     3/1/2012    45.250
PALM HARBOR          3.250%    5/15/2024    69.376
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    21.000
STATION CASINOS      6.000%     4/1/2012     5.250
STATION CASINOS      7.750%    8/15/2016     6.000
TEXTRON INC          4.500%     8/1/2010    99.930
THORNBURG MTG        8.000%    5/15/2013     3.500
TIMES MIRROR CO      7.250%     3/1/2013    30.000
TOUSA INC            7.500%    1/15/2015     1.000
TOUSA INC           10.375%     7/1/2012     1.250
TRANS-LUX CORP       8.250%     3/1/2012     7.673
TRICO MARINE         3.000%    1/15/2027    16.000
TRICO MARINE SER     8.125%     2/1/2013    45.250
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     0.225
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



                           *********

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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