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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

            Friday, September 10, 2010, Vol. 14, No. 251

                            Headlines

1100 CHICO: Taps Russell H. Rapoport as Bankruptcy Counsel
1600 TRADING: U.S. Trustee Wants Case Dismissed or Converted
ACCEPTANCE INSURANCE: Case Converted to Chapter 7 Liquidation
AGRISOLAR SOLUTIONS: Posts $31,500 Net Loss in June 30 Quarter
ALLIANT TECHSYSTEMS: Fitch to Assign 'BB-' on 2010 Sr. Sub Notes

AMERICAN HOMEPATIENT: Highland Capital Owns 78.5% of Common Stock
AMERICANWEST BANCORP: Incurs $7.9MM Net Loss in June 30 Quarter
APARTMENT INVESTMENT: Fitch Affirms & Withdraws 'BB+' IDR
BRASWELL-HEFNER: Case Summary & 2 Largest Unsecured Creditors
BRYANT MANOR: Debtor's Suit Against Mortgagee Survives

CANOPY FINANCIAL: Former Executive to Plead Guilty
CAPMARK FINANCIAL: Reaches Settlement with Prepetition Lenders
CAPMARK FINANCIAL: Opposes Committee Plea to Pursue Claims
CAPMARK FINANCIAL: Insists on Payments for Cash Collateral Use
CARIBBEAN PETROLEUM: Judge Denies Transfer of Venue

CHERYL TURNER: Case Summary & 8 Largest Unsecured Creditors
CIRCUIT CITY: Wins Court Approval of Liquidating Plan
CIRCUIT CITY: Proposes InterTAN/Ventoux Settlement
CISTERA NETWORKS: Incurs $25,800 Net Loss in June 30 Quarter
CLAIRE'S STORES: Files Form 10-Q; $8.34MM Net Loss for July 31 Qtr

COMSTOCK MINING: Files August Technical Report
CONSOLIDATED RESORTS: Closes Sale of Timeshares
CROWN MEDIA: Posts $9.0 Million Net Loss in June 30 Quarter
DENNY HECKER: Pleads Guilty to Two Fraud Charges
DENNY'S CORP: August 2010 Sales Improve Year Over Year

DUBAI WORLD: May Postpone Reply Date for Creditors
EMMIS COMMS: Going-Private Bid Cancelled; Suit vs. Alden Mulled
EQUIPMENT SOURCE: Case Summary & 20 Largest Unsecured Creditors
ETERNAL ENERGY: Earns $4 Million in June 30 Quarter
FANNIE MAE: Bankers Urge Government to Pull Life Support
EQUIPMENT SOURCE: Case Summary & 20 Largest Unsecured Creditors

FRANK GRAY: Case Summary & 20 Largest Unsecured Creditors
FREDDIE MAC: Bankers Urge Government to Pull Life Support
GENERAL GROWTH: Weil Gotshal Bills $21.3-Mil. for Feb.-June Work
GENERAL MOTORS: Will Take Aggressive Stance Against Competition
GREEN PLANET: Posts $2 Million Net Loss in June 30 Quarter

GREGORY MALLEY: Case Summary & 20 Largest Unsecured Creditors
HARRISBURG, PA: Dauphin County Plans to Refile Suit
HARRISBURG, PA: Governor Working to Avoid City's Bankruptcy
INNKEEPERS USA: Opposes Preferreds' Request for Examiner
INNKEEPERS USA: Files Schedules of Assets and Liabilities

INNKEEPERS USA: Files Statement of Financial Affairs
INT'L COMMERCIAL: Swings to $317,300 Net Loss in Q2 2010
IRI GOLF: Landscapes Could Not Acquire Golf Course
JAPEH YOUSSEFI: Voluntary Chapter 11 Case Summary
JAVIER GUEL: Voluntary Chapter 11 Case Summary

JNL FUNDING: Hearing on Cash Use Continued Until October 27
JNL FUNDING: Christopher Ellis Appointed Chapter 11 Examiner
J.T. HILL: Case Summary & 9 Largest Unsecured Creditors
KELLY DEFEO: Voluntary Chapter 11 Case Summary
LAKE AT LAS VEGAS: Former Owners Seek Jury Trial

LANCE LARSON: Case Summary & 8 Largest Unsecured Creditors
LARRY WILCOX: Case Summary & 19 Largest Unsecured Creditors
LAS VEGAS RAILWAY: Incurs $517,000 Net Loss in June 30 Quarter
LAWRENCE BROCK: Voluntary Chapter 11 Case Summary
LEHMAN BROTHERS: Seeks Appointment of Fourth Mediator

LEHMAN BROTHERS: Sets Process to Resolve <$1MM Derivative Claims
LEHMAN BROTHERS: Proposes to Trade Special Purpose Vehicled Notes
LEHMAN BROTHERS: Fubon Propsoes to Assign Stake in Lehman Note
LEHMAN BROTHERS: LBFA Seeks Nod for Late Filing of $160MM Claim
LEHMAN BROTHERS: LBCC-Norton Settlement Completed

LEXARIA CORP: Posts $29,412 Net Loss in July 31 Quarter
L.T. TITAN: Case Summary & 6 Largest Unsecured Creditors
METRO-GOLDWYN-MAYER: Spyglass Inks Non-Binding Management Deal
MEXICANA AIRLINES: US Court Adjourns Hearing on Ch. 15 Recognition
MEXICANA AIRLINES: Mexican Court Grants Protection from Creditors

MEXICANA AIRLINES: Grounding May Be Permanent, UBS Analysts Say
MICHAEL BENTZ: Voluntary Chapter 11 Case Summary
MIDWEST OIL: Organizational Meeting to Form Panel on Sept. 14
MINOR FAMILY: Section 341(a) Meeting Scheduled for Oct. 25
MINOR FAMILY: Taps Woods Rogers as Bankruptcy Counsel

NAT'L CONSUMER COOP: Fitch Lowers L-T IDR to 'B-'
NEFF CORP: Wayzata Objects to Unsecureds' Plea to Pursue Claims
NEW ORIENTAL: Provides Action Plan to Regain Nasdaq Compliance
NEW ORIENTAL: Incurs $2.6 Million Net Loss in June 30 Quarter
NICOLAS MARSCH: James L. Kennedy Appointed as Chapter 11 Trustee

NORTEL NETWORKS: Claim Transfers for June-August Total $6.5MM
NORTEL NETWORKS: Proposes HWT Funds Allocation Procedures
OCEAN BANK: Fla. Bank Rated E+ by Weiss Ratings
OCEANSIDE BANK: Fla. Bank Rated E- by Weiss Ratings
OGLETHORPE BANK: Ga. Bank Rated E- by Weiss Ratings

OHIO STATE BANK: Ohio Bank Rated E- by Weiss Ratings
OLD HARBOR: Fla. Bank Rated E- by Weiss Ratings
ONEUNITED BANK: Mass. Bank Rated E by Weiss Ratings
OPTIMUMBANK: Fla. Bank Rated E by Weiss Ratings
OSAGE EXPLORATION: Appoints Larry Ray to Board of Directors

OTTER TAIL: Posts $852,639 Net Loss in June 30 Quarter
OWENS-ILLINOIS: Fitch Affirms IDR at 'BB'
OXFORD BANK: Mich. Bank Rated E- by Weiss Ratings
P&C POULTRY: Gets Court's Interim Nod to Use Cash Collateral
P&C POULTRY: Section 341(a) Meeting Scheduled for Oct. 18

PACIFIC CAPITAL: Calif. Bank Rated E by Weiss Ratings
PACIFIC RIM: Hawaii Bank Rated E by Weiss Ratings
PACIFIC WEST: Ore. Bank Rated E by Weiss Ratings
PALM BANK: Fla. Bank Rated E+ by Weiss Ratings
PALM DESERT: Calif. Bank Rated E- by Weiss Ratings

PALMETTO BANK: S.C. Bank Rated E by Weiss Ratings
PARAMOUNT BANK: Mich. Bank Rated E- by Weiss Ratings
PARK AVENUE: Ga. Bank Rated E- by Weiss Ratings
PARK STATE BANK: Minn. Bank Rated E- by Weiss Ratings
PARKWAY BANK: N.C. Bank Rated E by Weiss Ratings

PATRIOT BANK: Iowa Bank Rated E by Weiss Ratings
PATRIOT BANK: Fla. Bank Rated E- by Weiss Ratings
PATRIOT BANK: Ga. Bank Rated E- by Weiss Ratings
PATRIOT NATIONAL: Conn. Bank Rated E- by Weiss Ratings
PATTERSON BANK: Ga. Bank Rated E by Weiss Ratings

PEACH STATE: Ga. Bank Rated E+ by Weiss Ratings
PEOPLES BANK: Va. Bank Rated E- by Weiss Ratings
PEOPLES BANK: Ga. Bank Rated E- by Weiss Ratings
PEOPLES BANK: Ga. Bank Rated E- by Weiss Ratings
PEOPLES BANK: Ga. Bank Rated E- by Weiss Ratings

PEOPLES STATE: Mich. Bank Rated E- by Weiss Ratings
PETROS ANDRIOPOULOS: Section 341(a) Meeting Scheduled for Oct. 6
PHARMOS CORPORATION: Posts $432,000 Net Loss in June 30 Quarter
PIEDMONT BANK: Ga. Bank Rated E by Weiss Ratings
PIEDMONT COMMUNITY: Ga. Bank Rated E- by Weiss Ratings

PIERCE COMMERCIAL: Wash. Bank Rated E- by Weiss Ratings
PILOT BANK: Fla. Bank Rated E by Weiss Ratings
PILSEN ST: Kan. Bank Rated E+ by Weiss Ratings
PLANTATION FEDERAL: S.C. Bank Rated E- by Weiss Ratings
PLANTATION, LLC: Voluntary Chapter 11 Case Summary

PLANTERSFIRST: Ga. Bank Rated E- by Weiss Ratings
POLK COUNTY: Iowa Bank Rated E- by Weiss Ratings
PREMIER BANK: Mo. Bank Rated E- by Weiss Ratings
PREMIER BANK: Fla. Bank Rated E- by Weiss Ratings
PREMIER BANK: Colo. Bank Rated E- by Weiss Ratings

PREMIER BANK: Ohio Bank Rated E by Weiss Ratings
PREMIER BANK: Minn. Bank Rated E by Weiss Ratings
PREMIER BANK: Minn. Bank Rated E+ by Weiss Ratings
PRIME SECURITY: Minn. Bank Rated E+ by Weiss Ratings
PRINCEVILLE STATE: Ill. Bank Rated E+ by Weiss Ratings

PROFESSIONAL BUSINESS: Calif. Bank Rated E- by Weiss Ratings
PROGRESS BANK: Fla. Bank Rated E by Weiss Ratings
PROGROWTH BANK: Minn. Bank Rated E- by Weiss Ratings
PROSPER BANK: Tex. Bank Rated E- by Weiss Ratings
PROSPERITY BANK: Fla. Bank Rated E+ by Weiss Ratings

PROVIDENCE BANK: Ga. Bank Rated E- by Weiss Ratings
PUTNAM STATE: Fla. Bank Rated E- by Weiss Ratings
RADIENT PHARMA: Shareholders Meeting Deferred Due to SEC Review
RAVENSWOOD BANK: Ill. Bank Rated E- by Weiss Ratings
REGAL FINANCIAL: Wash. Bank Rated E- by Weiss Ratings

REGAL PLAZA: Files Schedules of Assets & Liabilities
REGAL PLAZA: Section 341(a) Meeting Scheduled for Oct. 21
REGAL PLAZA: Taps Schwartzer & McPherson as Bankruptcy Counsel
RENOVA ENERGY: Must Sell Idaho Ethanol Plant by November 10
REPUBLIC FIRST: Pa. Bank Rated E+ by Weiss Ratings

RESERVE DEV'T: Files List of 20 Largest Unsecured Creditors
RESERVE DEV'T: Files Schedules of Assets & Liabilities
RESERVE DEV'T: Section 341(a) Meeting Scheduled for Oct. 21
RICHARD GREENLAND: Case Summary & 15 Largest Unsecured Creditors
RIVERBANK: Minn. Bank Rated E- by Weiss Ratings

RIVERLAND BANK: Minn. Bank Rated E- by Weiss Ratings
ROBERT PELTON: Case Summary & 20 Largest Unsecured Creditors
ROCKY MOUNTAIN: Colo. Bank Rated E by Weiss Ratings
ROSEMOUNT NATIONAL: Minn. Bank Rated E- by Weiss Ratings
ROXBURY BANK: Kan. Bank Rated E+ by Weiss Ratings

RRI ENERGY: Fitch Keeps 'B'-Rated IDR on Watch Positive
SAEHAN BANK: Calif. Bank Rated E by Weiss Ratings
SAIGON NATIONAL: Calif. Bank Rated E by Weiss Ratings
SAINT VINCENT: Can Sell Certain CHAA Assets to North Shore
SAINT VINCENT: Creditors' Claims Bar Date Set for October 12

SAN LUIS TRUST: Calif. Bank Rated E+ by Weiss Ratings
SAVANNA-THOMSON: Ill. Bank Rated E by Weiss Ratings
SAVINGS BANK: Maine Bank Rated E- by Weiss Ratings
SCHUTT SPORTS: Organizational Meeting to Form Panel on Sept. 16
SCHUTT SPORTS: Court Approves $34 Million DIP Financing

SEATTLE BANK: Wash. Bank Rated E- by Weiss Ratings
SECOND FS&LA: Ill. Bank Rated E+ by Weiss Ratings
SECURANT BANK: Wisc. Bank Rated E+ by Weiss Ratings
SECURITY BANK: Fla. Bank Rated E+ by Weiss Ratings
SECURITY EXCHANGE: Ga. Bank Rated E- by Weiss Ratings

SECURITY SAVINGS: Kan. Bank Rated E- by Weiss Ratings
SECURITY STATE: Minn. Bank Rated E by Weiss Ratings
SECURITY STATE: Minn. Bank Rated E+ by Weiss Ratings
SELECT BANK: Mich. Bank Rated E+ by Weiss Ratings
SHOREBANK PACIFIC: Wash. Bank Rated E+ by Weiss Ratings

SHORELINE BANK: Wash. Bank Rated E- by Weiss Ratings
SHUBH HOTELS: Lender Seeks Stay Relief to Foreclose on Property
SIGNATURE BANK: Colo. Bank Rated E- by Weiss Ratings
SIGNATURE BANK: Ga. Bank Rated E by Weiss Ratings
S.C. COMMUNITY: S.C. Bank Rated E- by Weiss Ratings

SONOMA VINEYARD: Case Summary & Largest Unsecured Creditor
SOUTHBANK: Fla. Bank Rated E- by Weiss Ratings
SOUTHERN COMMERCE: Fla. Bank Rated E+ by Weiss Ratings
SOUTHPOINT BANK: Ala. Bank Rated E by Weiss Ratings
SOUTHPORT: Wisc. Bank Rated E- by Weiss Ratings

SOUTHSHORE COMMUNITY: Fla. Bank Rated E- by Weiss Ratings
SQUARE 514: Case Summary & Largest Unsecured Creditor
STATE BANK: Mich. Bank Rated E- by Weiss Ratings
STATE BANK: Minn. Bank Rated E- by Weiss Ratings
STATE CENTRAL: Iowa Bank Rated E by Weiss Ratings

STERLING BANK: N.J. Bank Rated E- by Weiss Ratings
STERLING SB: Wash. Bank Rated E- by Weiss Ratings
STOCKMANS BANK: Okla. Bank Rated E+ by Weiss Ratings
STONEHAM SB: Mass. Bank Rated E- by Weiss Ratings
SUMMIT BANK: Ariz. Bank Rated E- by Weiss Ratings

SUN SECURITY BANK: Mo. Bank Rated E- by Weiss Ratings
SUNRISE BANK: Fla. Bank Rated E- by Weiss Ratings
SUNRISE BANK: N.M. Bank Rated E by Weiss Ratings
SUNRISE BANK: Ariz. Bank Rated E- by Weiss Ratings
SUNRISE BANK: Ga. Bank Rated E- by Weiss Ratings

SUNSHINE STATE: Fla. Bank Rated E- by Weiss Ratings
SUPERIOR BANK: Mo. Bank Rated E by Weiss Ratings
SUPERIOR BANK: Ala. Bank Rated E+ by Weiss Ratings
SYKESVILLE FEDERAL: Md. Bank Rated E by Weiss Ratings
SYRINGA BANK: Idaho Bank Rated E- by Weiss Ratings

T BANK: Tex. Bank Rated E by Weiss Ratings
TEFRON LTD: Incurs $2.0 Million Net Loss in June 30 Quarter
TEXAS REPUBLIC: Tex. Bank Rated E by Weiss Ratings
TIB BANK: Fla. Bank Rated E- by Weiss Ratings
TIFTON BANKING: Ga. Bank Rated E- by Weiss Ratings

TOWN CENTER: Tex. Bank Rated E by Weiss Ratings
TOWN NORTH: Tex. Bank Rated E- by Weiss Ratings
TOWN NORTH: Nev. Bank Rated E by Weiss Ratings
TOYOTA FINANCIAL: Nev. Bank Rated E+ by Weiss Ratings
TRAVERSE CITY: Mich. Bank Rated E+ by Weiss Ratings

TREMONT SB: Ill. Bank Rated E- by Weiss Ratings
TRIDIMENSION ENERGY: Wants Challenge Period Extended Until Oct. 27
TRIDIMENSION ENERGY: Asks for Nov. 19 Plan Exclusivity Extension
TRIDIMENSION ENERGY: Files Schedules of Assets and Liabilities
TRUMAN BANK: Mo. Bank Rated E- by Weiss Ratings

TRUST BANK: Ga. Bank Rated E+ by Weiss Ratings
UNION BANK: La. Bank Rated E+ by Weiss Ratings
UNION CREDIT: Fla. Bank Rated E by Weiss Ratings
UNITED AMERICAS: Ga. Bank Rated E+ by Weiss Ratings
UNITED COMMUNITY: Tex. Bank Rated E by Weiss Ratings

UNITED LEGACY: Fla. Bank Rated E+ by Weiss Ratings
UNITED WESTERN: Colo. Bank Rated E by Weiss Ratings
UNUM GROUP: Fitch Affirms 7.405% Jr. Sub Capital Notes at 'BB+'
VALLEY COMMUNITY: Ill. Bank Rated E- by Weiss Ratings
VENTURA COUNTY: Calif. Bank Rated E- by Weiss Ratings

VIKING BANK: Wash. Bank Rated E- by Weiss Ratings
VILLAGE BANK: Utah Bank Rated E by Weiss Ratings
VILLAGE BANK: Mo. Bank Rated E- by Weiss Ratings
VIRGINIA BUSINESS: Va. Bank Rated E by Weiss Ratings
WACCAMAW BANK: N.C. Bank Rated E+ by Weiss Ratings

WAKULLA BANK: Fla. Bank Rated E- by Weiss Ratings
WASHINGTON MUTUAL: Examiner Files Preliminary Report
WASHINGTON MUTUAL: Plan Outline Hearing Reset to Sept. 24
WASHINGTON MUTUAL: Agrees with FDIC on Segregation of Accounts
WAUKEGAN SB: Ill. Bank Rated E- by Weiss Ratings

WEST MICHIGAN: Mich. Bank Rated E- by Weiss Ratings
WESTBRIDGE BANK: Mo. Bank Rated E- by Weiss Ratings
WESTCLIFF MEDICAL: Assets Sale Hearing Continued Until October 6
WESTWAY CONSTRUCTION: Case Summary & Creditors List
WESTERN COMMERCIAL: Calif. Bank Rated E- by Weiss Ratings

WESTERN COMMUNITY: Utah Bank Rated E- by Weiss Ratings
WESTERN SPRINGS: Ill. Bank Rated E- by Weiss Ratings
WESTSIDE COMMUNITY: Wash. Bank Rated E+ by Weiss Ratings
WHITE ROCK: Minn. Bank Rated E- by Weiss Ratings
WILLIAM SALERNO, JR.: Case Summary & Creditors List

YRC WORLDWIDE: Hearing on NASDAQ Appeal Set for October 7

* Court Revives Inventor's Fraud Suit Against Katten

* Cooley's Larry Gottlieb Named One of Law360's Most Admired Attys
* Faye Wattleton Joins Alvarez & Marsal As Managing Director

* Slowdown in Filings Fuels Competition for Bankruptcy Cases

* BOOK REVIEW: Competition in the Health Care Sector

                            *********

1100 CHICO: Taps Russell H. Rapoport as Bankruptcy Counsel
----------------------------------------------------------
1100 Chico, LLC, asks for authorization from the U.S. Bankruptcy
Court for the Central District of California to employ the Law
Office of Russell H. Rapoport as general counsel.

The Firm will provide the Debtor bankruptcy court representation
for all purposes in the case.

The hourly rates of the Firm's personnel are:

     Russell H. Rapoport                      $450
     Paralegal                                $125
     Non-Legal Professionals                $50-$100

Russell H. Rapoport, Esq., the sole practitioner at the Firm,
assures the Court that the Firm is a "disinterested person" as
that term is defined in Section 101(14) of the Bankruptcy Code.

Northridge, California-based 1100 CHICO, LLC, filed for Chapter 11
bankruptcy protection on September 1, 2010 (Bankr. C.D. Calif.
Case No. 10-21016).  The Debtor estimated assets and debts at
$10 million to $50 million in its Chapter 11 petition.


1600 TRADING: U.S. Trustee Wants Case Dismissed or Converted
------------------------------------------------------------
William T. Neary, the U.S. Trustee for Region 6, asks the U.S.
Bankruptcy Court for the Eastern District of Texas to dismiss or
convert the Chapter 11 case of 1600 Trading Co., LP, to one under
Chapter 7 of the Bankruptcy Code.

The U.S. Trustee explains that its request is warranted because:

    * The Debtor has no current business operations and no
      employees;

    * There has been undue delay in the prosecution of the Chapter
      11 case -- a hearing to consider the Debtor's turnover
      motion, and Plains Capital Bank's motion to lift stay
      concerning the Debtor's claimed inventory, has been
      postponed several times;

    * The Debtor lacks any chance of reorganization.

                       About 1600 Trading

Richardson, Texas-based 1600 Trading Co., LP, filed for Chapter 11
bankruptcy protection on February 15, 2010 (Bankr. E.D. Tex. Case
No. 10-40478).  Eric A. Liepins, Esq., in Dallas, Texas, serves as
bankruptcy counsel to the Debtor.  The Company disclosed
$11,000,000 in assets and $5,147,062 in debts in its Chapter 11
petition.


ACCEPTANCE INSURANCE: Case Converted to Chapter 7 Liquidation
-------------------------------------------------------------
Acceptance Insurance Companies sought and obtained from the U.S.
Bankruptcy Court for the District of Nebraska an order converting
its Chapter 11 case to a proceeding under Chapter 7 of the
Bankruptcy Code.

"The Company believes that its stockholders and the holders of the
Preferred Securities issued by AICI Capital Trust will not receive
material distributions in or after the liquidation proceedings."
Acceptance Insurance Companies filed for Chapter 11 protection on
January 7, 2005," according to documents filed with the SEC and
obtained BankruptcyData.com.

The Court also scheduled an 11 U.S.C. Sec. 341 meeting of
creditors on October 7.

                     About Acceptance Insurance

Headquartered in Council Bluffs, Iowa, Acceptance Insurance
Companies, Inc. -- http://www.aicins.com/-- is a Delaware
corporation established in 1968.  The Company now only owns
Acceptance Insurance Company, a Nebraska domestic insurance
company.  In late 1999 the Company began exiting the property and
casualty business and in 2001 discontinued the issuance or renewal
of policies other than crop insurance policies.  In December 2002
the Company discontinued the issuance or renewal of crop insurance
policies.

The Company filed for Chapter 11 protection on Jan. 7, 2005
(Bankr. D. Nebr. Case No. 05-80059).  The Debtor's affiliates --
Acceptance Insurance Services, Inc., and American Agrisurance,
Inc. -- each filed Chapter 7 petitions (Bankr. D. Nebr. Case Nos.
05-80056 and 05-80058) on January 7, 2005.  Jeffrey T. Wegner,
Esq., Patrick B. Griffin, Esq., at Kutak Rock LLP, Lewis S.
Wiener, Esq., at Sutherland, Asbill & Brennan, and Robert J.
Bothe, Esq., at McGrath, North, Mullin & Kratz, PC, represent
Acceptance Insurance Companies in its restructuring effort.

As of May 31, 2010, the Debtor had total assets of $2,351,586
against total liabilities of $138,185,754.


AGRISOLAR SOLUTIONS: Posts $31,500 Net Loss in June 30 Quarter
--------------------------------------------------------------
AgriSolar Solutions, Inc., formerly V2K International, Inc., filed
its quarterly report on Form 10-Q, reporting a net loss of
$31,461 on $2.9 million of revenue for the three months ended
June 30, 2010, compared with net income of $179,657 on $965,166 of
revenue for the three months ended June 30, 2009.

The Company recognized a $440,000 loss on extinguishment of debt
for the three months ended June 30, 2010.

As of June 30, 2010, the Company had working capital of
$1.9 million as compared to a working capital deficit of $200,578
at March 31, 2010.  The improved working capital results from an
increase in sales activity in the three month period ended
June 30, 2010.  For the three months ended June 30, 2010, the
Company experienced negative cash flows from operations of
$837,501.  As of June 30, 2010, the Company has an accumulated
deficit of $1.8 million.

The Company's balance sheet at June 30, 2010, showed $8.3 million
in total assets, $4.9 million in total liabilities, and
stockholders' equity of $3.4 million.

As reported in the Troubled Company Reporter on July 20, 2010,
ZYCPA Company Limited, in Hong Kong, China, expressed substantial
doubt about the Company's ability to continue as a going concern,
following its results for the fiscal year ended March 31, 2010.
The independent auditors noted that the Company has incurred
continuous losses.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6af1

Denver, Colo.-based AgriSolar Solutions, Inc. (OTC BB: AGSO)
through its wholly-owned subsidiary, Shenzhen Fuwaysun Technology
Company Limited, a People's Republic of China corporation, is
engaged primarily in the development, production and sale of solar
products, including a solar insect killer and other products
designed for agricultural and commercial use.  The Company's
manufacturing facility is located in Shenzhen, the People's
Republic of China, and a substantial majority of its current sales
and business operations are in China.

The Company was incorporated in the State of Colorado on March 13,
2006, under the name V2K International, Inc.  On January 8, 2010,
the Company changed its company name from "V2K International,
Inc." to its current name.


ALLIANT TECHSYSTEMS: Fitch to Assign 'BB-' on 2010 Sr. Sub Notes
----------------------------------------------------------------
Fitch Ratings expects to assign a 'BB-' rating to Alliant
Techsystems' (NYSE: ATK) $300 million issuance of senior
subordinated notes due 2020. Proceeds are earmarked for
refinancing $280 million 2.75% convertible senior subordinated
notes due 2024.

ATK's Issuer Default Rating is rated 'BB' by Fitch.  On a pro
forma basis, approximately $1.4 billion of debt is covered by the
ratings. The Rating Outlook is Stable.

The company is issuing new debt to refinance the 2.75% convertible
senior subordinated notes due 2024.  ATK is exercising its right
to redeem all of the notes for cash with 30 days notice.  If these
notes were not called, bondholders would have the right to put the
notes to ATK for cash on Feb. 15, 2014 or Feb. 15, 2019.  The
notes also could be converted at a rate of $79.46 per share if the
stock price exceeds certain triggers or if certain corporate
transactions take place; in that event, ATK must satisfy the par
value of the notes with cash and any applicable premium, if any,
with cash, stock or a combination of both at its discretion.

Further changes to the debt structure are under consideration by
the company.  ATK may refinance its existing secured bank facility
due 2012 which is comprised of the $500 million revolver and
$257.8 million term loan with a new five year facility which could
have a $600 million revolver and $400 million term loan.

Key ratings factors include ATK's healthy free cash flow and solid
credit metrics; high levels of spending for munitions and some
missile defense programs in the U.S. Department of Defense (DOD)
budget; potential revenue growth from the Joint Strike Fighter
program; expansion of sales of commercial products; and ATK's role
as a sole source provider for many of its products to the U.S.
Government.  The ratings acknowledge the uncertainty about funding
for the Constellation program in the NASA budget beyond the
government's fiscal year 2011 (FY11).  Other concerns include
potential U.S. budgetary pressures in the longer term; the
company's history of increasing leverage for acquisitions; a lack
of diversity compared to other large and medium sized defense
contractors; the amount of revenue generated by operations in Iraq
and Afghanistan; and pension plan funding.

The Stable Rating Outlook reflects the current high levels of
defense spending, U.S. Army training requirements that should
result in continued high usage of munitions, and the general level
of the company's credit metrics for the rating category.

Fitch continues to expect ATK to have sufficient liquidity in
FY11.  At the end of the first quarter of FY11 which ended July 4,
2010, ATK had $417 million of liquidity which consisted of
$92 million of cash on hand and $325 million available on the
$500 million secured revolver. Fitch notes that the cash on the
balance sheet declined by approximately $300 million in the recent
quarter following significant working capital requirements of
$221 million and the cash payment of $172 million for the
acquisition of Blackhawk Industries Products Group Unlimited, LLC.

Historically, the company has a solid track record of cash flow
generation when adjusted for discretionary pension contributions
(as was done in FY07 and FY10).  In FY10, the company generated
free cash flow of approximately $50 million after accounting for
$300 million of pension contributions.  At the end of March 31,
2010, the pension plan was underfunded by $627 million, or funded
76%.  Fitch believes that the pension is going to have to be a
continuing use of cash given the funding position and the likely
decline in the discount rate if interest rates stay low.

Leverage has been on the decline since FY07 when ATK issued debt
to fund its pension plan and repurchase shares, causing leverage
to increase to 3.5 times (x).  At the end of the first quarter of
FY11 which ended July 4, 2010, leverage was 2.1x and only
increases to 2.2x on a pro forma basis when accounting for a
$20 million increase in debt with the new note offering.

Following the call of the 2.75% notes due 2024, the company's next
debt maturity is for $300 million of convertibles due September
2011.  To offset the potential stock dilution of the convertible
notes, ATK has call options on its stock for 3.1 million shares
and warrants for 3.3 million shares.  The conversion price on
these notes is $96.51. With the stock options and warrants, the
effective conversion price is $116.75 per share for ATK.  After
these notes are due, ATK's $500 million secured revolver and
$258 million secured term loan are due in 2012.

The company's other convertible note is $199 million of 3%
convertible senior subordinated notes due 2024.  These notes have
a dilutive effect on the earnings per share when the stock exceeds
$79.75 per common share.  ATK can redeem a portion or all of the
notes for cash on or after Aug. 20, 2014.  Noteholders have the
right to put a portion or all of the notes for cash on Aug. 15,
2014 and on Aug. 15, 2019.  In addition, the notes have a
conversion rate of 12.5392 shares (conversion price of $79.75 per
common share).  In fiscal 2009, $547,000 of these notes was
converted.

Changes beyond the elimination of the Constellation program within
the NASA budget or for cuts in defense spending could have a
negative impact on ATK.  The company received 69% of its revenues
from the U.S. government in FY10, and the U.S. Army accounted for
28% of the total sales (with 13% of the total sales coming from
one contract for ammunition).  Sales to NASA accounted for 18% of
FY10 revenues; sales associated with the Constellation program
were approximately 8% of total FY10 sales, or approximately
$370 million.

Fitch rates ATK as follows:

  -- IDR at 'BB';
  -- Senior secured term loan at 'BBB-';
  -- Senior secured revolver at 'BBB-';
  -- Convertible senior subordinated notes at 'BB-';
  -- Senior subordinated notes at 'BB-'.


AMERICAN HOMEPATIENT: Highland Capital Owns 78.5% of Common Stock
-----------------------------------------------------------------
Highland Capital Management, L.P., has filed with the Securities
and Exchange Commission Amendment No. 9 to its Schedule 13-D,
which was initially filed on February 27, 2006.

Highland Capital Management, L.P., et al., disclosed that they may
be deemed to beneficially own shares of American HomePatient,
Inc.'s common stock:

                                       Shares
                                       Beneficially
   Company                             Owned         Percentage
   -------                             ------------  ----------
Highland Crusader Offshore Partners     8,437,164      78.5%
Highland Capital Management, L.P.       8,437,164      78.5%
Strand Advisors, Inc.                   8,437,164      78.5%
James Dondero                           8,437,164      78.5%

Percentage ownership is based on 10,746,075 shares outstanding as
of September 1, 2010.

A full-text copy of Highland Capital Management's amended Schedule
13D is available for free at http://researcharchives.com/t/s?6afc

                    About American HomePatient

Brentwood, Tenn.-based American HomePatient, Inc. (OTC BB: AHOM)
is one of the nation's largest home health care providers with
operations in 33 states.  Its product and service offerings
include respiratory services, infusion therapy, parenteral and
enteral nutrition, and medical equipment for patients in their
home.

The Company's balance sheet at June 30, 2010, showed
$240.7 million in total assets, $274.4 million in total
liabilities, and a stockholders' deficit of $33.7 million.

As reported in the Troubled Company Reporter on March 8, 2010,
KPMG LLP, in Nashville, Tennessee, expressed substantial doubt
about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
at December 31, 2009, the Company had a net capital deficiency and
had a net working capital deficiency resulting from $226.4 million
of debt that matured on August 1, 2009.


AMERICANWEST BANCORP: Incurs $7.9MM Net Loss in June 30 Quarter
---------------------------------------------------------------
AmericanWest Bancorporation filed its quarterly report on Form
10-Q, reporting a net loss of $7.9 million on $12.8 million of net
interest income for the three months ended June 30, 2010, compared
with a net loss of $10.5 million on $13.9 million of net interest
income for the same period of 2009.

The Company recognized a provision for loan losses of
$4.0 million, or 1.36% of average loans on an annualized basis,
for the three months ended June 30, 2010, as compared to
$11.8 million, or 3.07% of average loans annualized, for the three
months ended June 30, 2009.  For the three months ended June 30,
2010, net charge-offs were $4.0 million, or 1.35% of average gross
loans annualized, as compared to $19.8 million, or 5.15% of
average gross loans annualized, for the three months ended June
30, 2009.

Total non-performing assets were $135.2 million, or 9.11% of total
assets, at June 30, 2010, as compared to $158.7 million, or 9.58%
of total assets, at December 31, 2009.  Total non-performing loans
as of June 30, 2010, were $86.2 million, or 7.60% of total gross
loans, as compared to $105.3 million, or 8.28% of total gross
loans as of December 31, 2009.

The Company's balance sheet as of June 30, 2010, showed
$1.484 billion in total assets, $1.481 billion in total
liabilities, and stockholders' equity of $3.5 million.

The Company's total stockholders' equity decreased to $3.5 million
at June 30, 2010, as compared to $19.6 million at December 31,
2009.  This decrease is mainly related to the net loss recorded
for the first six months of 2010 of $16.4 million.  The Company's
total stockholders' equity to total assets ratio decreased to 0.2%
as of June 30, 2010, from 1.2% as of December 31, 2009.  At
June 30, 2010, and December 31, 2009, the Company held cash and
cash equivalent assets of $189.3 million and $201.6 million,
respectively.

As reported in the Troubled Company Reporter on March 9, 2010,
Moss Adams LLP, in Salt Lake City, expressed substantial doubt
about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted of the
Company's significant net loss from operations in 2009 and 2008,
deterioration in the credit quality of its loan portfolio, and the
decline in the level of its regulatory capital to support
operations.

A full-text copy of the Form 10-Q is available for free at:

              http://researcharchives.com/t/s?6af9

                About AmericanWest Bancorporation

Headquartered in Spokane, Washington, AmericanWest Bancorporation
(OTC BB: AWBC) -- http://www.awbank.net/- is a bank holding
company whose principal subsidiary is AmericanWest Bank, which
includes Far West Bank in Utah operating as an integrated division
of AmericanWest Bank.  AmericanWest Bank is a community bank with
58 financial centers located in Washington, Northern Idaho and
Utah.

Americanwest Bank carries an E- rating from Weiss Ratings.  The
rating company says that the institution currently demonstrates
what it considers to be significant weaknesses and has also failed
some of the basic tests it uses to identify fiscal stability.


APARTMENT INVESTMENT: Fitch Affirms & Withdraws 'BB+' IDR
---------------------------------------------------------
Fitch Ratings has affirmed and simultaneously withdrawn the
ratings of Apartment Investment and Management Company (NYSE: AIV)
and its operating partnership, AIMCO Properties, L.P.:

Apartment Investment and Management Company

     -- Issuer Default Rating (IDR) 'BB+';
     -- $180 million revolving credit facility 'BB+';
     -- $765.9 million perpetual preferred stock 'BB-'.

AIMCO Properties, L.P. (as co-borrower)

     -- IDR 'BB+';
     -- $180 million revolving credit facility 'BB+'.

The rating assigned to Aimco's term loan, which was paid off in
July, was also withdrawn.

The affirmation of Aimco's ratings is based on the asset and
geographic diversification of its apartment community portfolio,
which has led to relatively stable performance throughout the
downturn, as well as its long term debt profile and adequate
liquidity position.  Aimco's leverage and fixed charge coverage
have remained stable and are commensurate with the ratings.  The
ratings also factor Aimco's limited pool of unencumbered assets;
however, recourse debt is limited to the company's revolving
credit facility.  While Aimco has limited entity risk, it remains
fairly dependent on the government-sponsored enterprises (GSEs)
for funding, which could impact its liquidity and funding costs
should their involvement in this market diminish.

Aimco's ratings are supported by its large portfolio of 486
conventional and affordable properties spread across the U.S.,
concentrated in the 20 largest residential markets at June 30,
2010.  The portfolio is well diversified geographically with the
largest market comprising less than 13% of net operating income
(NOI) and the 10 largest markets comprising a reasonable 62.7% of
total NOI.

The ratings also reflect Aimco's steady coverage metrics despite
the challenging operating environment.  Given the diversification
of the portfolio, total portfolio NOI declines have been fairly
limited at -0.5% and -0.4% in 2009 and the first half of 2010,
respectively, as larger declines in the same store conventional
portfolio have been offset to some extent by the performance of
redevelopment conventional properties and same store affordable
properties.  Aimco's fixed charge coverage ratio (defined as
recurring operating EBITDA less recurring capital replacement
expenditures divided by interest expense, capitalized interest and
preferred dividends) has been stable at 1.3 times (x) since 2007
and remained at that level for the trailing 12 months ended
June 30, 2010.

Aimco's leverage continues to be commensurate with the 'BB+'
rating. Leverage as measured by debt to recurring operating EBITDA
was 9.7x for the trailing 12 months ended June 30, 2010, in line
with 2009 (9.8x) and slightly above 2008 (9.3x).  Management
expects to reduce leverage modestly over time through principal
amortization, which is a feature of most of its mortgage loans.

Aimco's adequate liquidity position and long-term debt profile are
also reflected in the ratings.  The company's liquidity position
has improved over time despite a sizeable reduction in the size of
its revolving credit facility due to the sale of assets, reduced
capital expenditures, and refinancing of its non-recourse secured
mortgages. Aimco has a liquidity coverage metric of 1.0x from
June 30, 2010 to Dec. 31, 2011 calculated as sources of liquidity
(unrestricted cash, availability under the company's revolving
credit facility, projected retained cash flows from operating
activities) over uses of liquidity (pro rata debt maturities and
projected capital replacement expenditures).  Under the assumption
that the company is able to refinance 80% of its maturing secured
debt, which is reasonable given its recent refinancing activity,
the liquidity surplus rises to 1.6x. Aimco's debt maturity profile
is long and well laddered with an average remaining term of eight
years and less than 16% of total debt maturing through 2012.

Nevertheless, Aimco is fairly reliant on the GSEs for financing.
Management estimates that the GSEs provide approximately 60% of
the company's mortgage debt.  As a result, a substantial reduction
in Freddie Mac or Fannie Mae's participation in the multifamily
credit markets could adversely affect Aimco's ability to obtain
non-recourse property debt financing, particularly at the
attractive rates offered by GSEs.  However, higher funding costs
would impact Aimco gradually given the long term nature of its
funding base.

Aimco's limited unencumbered assets are also factored into the
company's 'BB+' IDR.  As of Dec. 31, 2009, the company had 10
unencumbered assets with a book value of $177 million, which
represented 1.8% of total assets.  Aimco's encumbered assets
continue to generate residual cash flow and value available to
corporate debt investors; however, the cash flow generated by
these assets is structurally subordinated to Aimco's non-recourse
secured property debt.  Nevertheless, Aimco's recourse debt is
currently limited to its $180 million revolving credit facility,
which had availability of $137.1 million as of June 30, 2010,
after giving effect to $42.9 million outstanding for undrawn
letters of credit issued under the revolving credit facility.

The two-notch differential between Aimco's IDR and preferred stock
rating is consistent with Fitch's criteria for corporate entities
with a 'BB+' IDR.  Based on Fitch's report 'Equity Credit for
Hybrids and Other Capital Securities' dated Dec. 29, 2009, Aimco'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.  Debt plus 25% of preferred stock-to-
recurring EBITDA and debt plus 25% of preferred stock-to-
undepreciated book capital were 10.0x and 58%, respectively, as of
June 30, 2010.

Fitch has withdrawn these ratings because Aimco is no longer
considered to be relevant to Fitch's REIT coverage.

Headquartered in Denver and incorporated in 1994, Aimco is an
equity REIT that is engaged in the acquisition, ownership,
management and redevelopment of both conventional and affordable
apartment properties.  In addition, Aimco has an investment
management platform that provides services such as portfolio
strategy, tax credit syndication, acquisitions, dispositions and
other transactional services for which the company earns fees.  As
of June 30, 2010, Aimco had $10.5 billion in undepreciated book
assets and a total market capitalization of $8.6 billion.
Approximately 88% of Aimco's net asset value is invested in
conventional properties, while 12% is invested in affordable
properties.


BRASWELL-HEFNER: Case Summary & 2 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Braswell-Hefner Investments, LLC
          dba Charlotte Paint & Body Shop, Inc.
        4750 Albemarle Road
        Charlotte, NC 28205

Bankruptcy Case No.: 10-32477

Chapter 11 Petition Date: August 25, 2010

Court: United States Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: J. Craig Whitley

Debtor's Counsel: Richard M. Mitchell, Esq.
                  MITCHELL & CULP, PLLC
                  1001 Morehead Square Drive, Suite 330
                  Charlotte, NC 28203
                  Tel: (704) 333-0630
                  Fax: (704) 333-4975
                  E-mail: rmmatty@mitchellculp.com

Scheduled Assets: $1,384,621

Scheduled Debts: $430,666

A list of the Company's two largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/ncwb10-32477.pdf

The petition was signed by Jean Marie Moritz, president.


BRYANT MANOR: Debtor's Suit Against Mortgagee Survives
------------------------------------------------------
Under Kansas law, WestLaw reports, allegations made by the Chapter
11 debtor-mortgagor were sufficient to state a claim against the
mortgagee for misrepresentation.  The debtor alleged that the
mortgagee's servicing agent, on behalf of the mortgagee,
negligently misrepresented a particular course of action as a
viable approach to restructuring the debtor's loan, and that the
debtor suffered significant damages as a result of its reliance on
such representation.  In re Bryant Manor, LLC, --- B.R. ----, 2010
WL 3271730 (Bankr. D. Kan.).

Bryant Manor, LLC, operates a 100-unit apartment complex located
in Kansas City, Kan.  The Debtor filed a Chapter 11 petition
(Bankr. D. Kan. Case No. 09-41958) on Nov. 20, 2009, and the
restructuring is proceeding as a single asset real estate case as
contemplated under 11 U.S.C. Sec. 101(51B).  Justice B. King,
Esq., at Fisher, Patterson, Sayler & Smith, in Topeka, Kan.,
represents the Debtor.  In a prepetition foreclosure action, the
District Court of Wyandotte County, Kansas, appointed Ronald Nolan
of Nolan Real Estate Services as a receiver on Oct. 20, 2009, and,
with the Bankruptcy Court's blessing, Mr. Nolan continues to
manage the apartment complex postpetition.


CANOPY FINANCIAL: Former Executive to Plead Guilty
--------------------------------------------------
Edvard Pettersson at Bloomberg News, citing court records, reports
that former Canopy Financial Inc. Chief Technology Officer Anthony
Banas agreed to plead guilty to fraud in a $75 million investment
scheme.

The report relates that under a preliminary calculation of the
sentencing guidelines, Mr. Banas faces as long as 19-1/2 years in
prison, according to the plea agreement provided September 9 by
the U.S. attorney's office in Chicago.  The accord says Mr. Banas
and the prosecutors can make their own recommendations.

According to Bloomberg, prosecutors alleged that Mr. Banas and
Jeremy Blackburn, the Chicago-based company's former president,
used false information about Canopy's financial condition,
including a bogus auditor's report and falsified bank statements,
to raise about $75 million from private-equity investors last
year.

Mr. Banas and Blackburn were also accused of misappropriating
$19 million from clients' health savings and flexible spending
accounts administered by the company.  Mr. Blackburn, like
Mr. Banas, pleaded not guilty in March.

The case is U.S. v. Banas, case no. 09-976 (N.D. Ill.).

                        About Canopy Financial

Canopy, based in Chicago, provided financial processing services
for the health-care industry.  Canopy filed for Chapter 11
bankruptcy after discovering financial and accounting
irregularities.  Canopy Financial filed for Chapter 11 bankruptcy
protection on November 25, 2009 (Bankr. N.D. Ill. Case No.
09-44943).  The petition says assets are less than $10 million
while debt exceeds $50 million.  At the end of the year, the Court
ordered the conversion of the case to a Chapter 7 liquidation.


CAPMARK FINANCIAL: Reaches Settlement with Prepetition Lenders
--------------------------------------------------------------
Capmark Financial Group Inc. and its debtor affiliates ask Judge
Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware to approve their settlement agreement with
prepetition secured credit facility lenders holding claims under
a prepetition $1.5 billion Secured Credit Facility.

The Settling Lenders are:

  * Aurelius Capital Management, LP;
  * Brigade Capital Management, LLC;
  * Centerbridge Partners, L.P.;
  * Midtown Acquisitions L.P.;
  * Elliott Associates, L.P.;
  * Fir Tree, Inc.;
  * Golden Tree Asset Management LP;
  * Highbridge Principal Strategies, LLC;
  * QVT Financial LP and Silver Point Capital, L.P.;
  * The Royal Bank of Scotland plc;
  * JPMorgan Chase Bank, N.A.; and
  * any Prepetition Secured Lender, and those who do not put out
    of the settlement as beneficial owners of portions of the
    Debtors' prepetition Secured Credit Facility.

In May 2009, the Debtors negotiated a straightforward refinancing
transaction with the Lenders by which $1.5 billion of unsecured
debt was refinanced by $1.5 billion of secured debt.  The Debtors
aver that the refinancing gave them time to either negotiate a
comprehensive out-of-court restructuring or to negotiate
transactions preserving value for their stakeholders and position
themselves for Chapter 11 filing.

The loan gave Capmark "an opportunity to weather the financial
storm and maximized the value of the estate," said James
Sprayregen, Esq., and Edward Sassower, Esq., attorneys for the
lenders with law firm Kirkland & Ellis LLP..

The Official Committee of Unsecured Creditors claims that the
loan was a fraudulent transfer because the Debtors were granting
liens on their assets while receiving little to no value in
exchange, all to the detriment of their estates and unsecured
creditors.

However, the Debtors maintain that they have thoroughly analyzed
all potential avoidance claims that could be asserted against the
Secured Lenders.  After performing their detailed legal and
factual investigations, the Debtors assert that they were able to
negotiate the proposed Settlement with the Secured Lenders
holding over 80% of their secured debt.

Pursuant to the Settlement, the Debtors' estates are enhanced by
at least $108 million and as much as $135 million (or 9% of $1.5
billion less the amount held by any Excluded Lender of Secured
Lender that opts out of the Settlement) while avoidance actions
against alleged insiders and other nonsettling beneficial holders
of secured debt are preserved along with any actions against the
indenture trustee that approved an amendment to CFGI's bond
indenture.  Additionally, the Debtors maintain that by retiring
the Secured Claims, the settlement ends the accrual of interest
on the Secured Claims at a rate of at least 4.75% per year, when
it is nearly impossible to earn more than 0.5% interest per year
on money deposited in the banks.

                         The Settlement

The Debtors relate that the Settlement resolves uncertainty
regarding the allowability of the bulk of the Secured Claims
under the Secured Credit Facility in exchange for a 9% reduction
in the principal amount of those claims as of the Petition Date,
which reduction approximates at least $108 million.

The Settlement Agreement provides, among other things, that:

  -- The Debtors will pay the Settling Lenders (a) 91% of the
     Settling Lenders' allocable share of $1.5 billion less
     payments made in accordance with the Cash Collateral Order;
    (b) Settling Lenders' allocable share of all accrued and
     unpaid interest due under the terms of the Prepetition
     Secured Credit Agreement; (c) reasonable fees and expenses
     of the Settling Lenders that are signatories to the
     Settlement Agreement through 10 days after the date the
     Settlement Amount is paid in full; (d) the reasonable fees
     and expenses incurred by the Signing Lenders after the
     Release Date;

  -- The Debtors will pay (a) 85% of any unpaid portion of the
     Capped Principal Amount, in cash, on or before November 1,
     2010, (b) any unpaid remainder of the Settlement Amount, in
     cash, on or before November 30, 2010, and (c) interest will
     continue to accrue and be paid and reasonable professionals
     fees will continue to be paid on a monthly basis;

  -- The Settlement Agreement is (a) automatically terminated if
     the Settlement Order has not been entered by the Bankruptcy
     Court by October 29, 2010; (b) terminable at the Debtors'
     option if (i) 40% of the principal obligations of the
     Settling Lenders breach any provision of the Settlement
     Agreement, or (ii) any breach resulting in the Settling
     Lenders holding less than 80% of the principal amount of
     Prepetition Secured Credit Obligations on the Release Date;
     or (iii) holders of more than 20% of the Prepetition
     Secured Credit Obligations opt out of the Settlement
     Agreement; or (c) terminable at the Settling Lenders'
     option (i) upon any breach by the Debtors that has not been
     waived or cured, (ii) if the First Settlement Payment is
     not made, (iii) if the Settlement Order is reversed on
     appeal or vacated by final order no longer subject to
     appeal; (iv) the Debtors file or support a Chapter 11 plan
     or disclosure statement that is inconsistent with the terms
     of the Settlement Agreement; or (v) if any court has
     entered a final, non-appealable judgment or order declaring
     the Settlement Agreement or any material portion of it
     unenforceable.

The Debtors ask the Court to approve the Settlement because:

  (1) the probability of success in litigating the Secured
      Claims is lowered by (a) the passage of more than 90 days
      between the collateralization of debt and the commencement
      of bankruptcy, (b) the intent and success of the Debtors
      to use the time outside bankruptcy created by the
      collateralization to maximize values of important estate
      assets, and (c) the use of new guaranties to guaranty debt
      replacing previous debt that was guaranteed;

  (2) the benefits of the Settlement, as compared to addressing
      the complexity and challenges of litigating the Secured
      Claims, and the expense, inconvenience, and delay inherent
      in protracted litigation outweigh the risks associated
      with fully litigating the merits;

  (3) there would be no difficulties in collection; and

  (4) the Settlement is fair and equitable and in the best
      interests of the Debtors, their estates, and all parties-
      in-interest in that it enhances the estates and converts
      at least $108 million and up to $135 million of encumbered
      property into unencumbered property while eliminating the
      accrual of interest at the contract rate of 4.75% on over
      $1.1 billion of remaining debt during the Chapter 11 case.

A full-text copy of the Settlement Agreement is available for
free at: http://bankrupt.com/misc/Capmark_SettlingLendersAgmt.pdf

           Debtors Seek to Shorten Notice of Hearing
                  and File Agreement Under Seal

The Debtors ask the Court to shorten the notice period in
connection with the Settlement Motion so that it will be heard on
September 21, 2010.  The Debtors assert that it is important that
the Court shorten the notice period to allow them to
expeditiously obtain (i) approval of the Settlement with the
Settling Lenders and (ii) authorization to take all necessary or
desirable steps to effectuate the Settlement.

In addition, the Debtors seek the Court's authority to file under
seal portions of the Settlement Agreement which comprise highly
sensitive and confidential information concerning the exact
holdings of the Settling Lenders of Prepetition Secured Credit
Obligations.  Specifically, the Debtors propose to redact the
dollar amount of each Settling Lender's debt holding from the
Settlement Agreement.

                 Creditors Committee Objects

The Creditors Committee, however, asks the Court to deny the
Motion to Shorten.  According to the Committee, the Settlement's
asserted "enhancement" to the estate does not provide any
justification for the need to abandon a full and fair notice
period for parties-in-interest to review and assess the merits of
the Settlement and the underlying claims that it purports to
settle; the substantial claims it seeks to allow; and the
substantial pre-confirmation payments it seek to make.

"We find it interesting that any effort to settle comes after we
sought to end payments to the term lenders and sought to file a
lawsuit against the term lenders," Bloomberg quoted Thomas Moers
Mayer, Esq., attorney to the Committee, as saying.

Capmark and the Creditors Committee are scheduled to battle over
the legitimacy of the loan in Court on Sept. 15.

Steven Church of Bloomberg News says the Committee hasn't seen
the settlement, and intends to go forward with its challenge.

The report further notes that the Committee needs permission from
U.S. Bankruptcy Judge Christopher Sontchi to sue Citigroup Inc.,
the loan's administrative agent.  Should Sontchi approve the
settlement, the Committee would lose the right to challenge the
loan.

                      About Capmark Financial

Based in Horsham, Pennsylvania, Capmark Financial Group Inc. --
http://www.capmark.com/-- is a diversified company that provides
a broad range of financial services to investors in commercial
real estate-related assets.  Capmark has three core businesses:
lending and mortgage banking, investments and funds management,
and servicing.  Capmark operates in North America, Europe and
Asia.  Capmark has 1,000 employees located in 37 offices
worldwide.

On October 25, 2009, Capmark Financial Group Inc. and certain of
its subsidiaries filed voluntary petitions for relief under
Chapter 11 (Bankr. D. Del. Case No. 09-13684)

Capmark's financial advisors are Lazard Freres & Co. LLC and
Loughlin Meghji + Company.  Capmark's bankruptcy counsel is Dewey
& LeBoeuf LLP.  Richards, Layton & Finger, P.A., serves as local
counsel.  Beekman Advisors, Inc., is serving as strategic advisor.
KPMG LLP is tax and accounting advisor.  Epiq Bankruptcy
Solutions, LLC, is the claims and notice agent.

Capmark had total assets of US$20 billion against total debts of
US$21 billion as of June 30, 2009.

Protech Holdings C, LLC, an affiliate of Capmark, filed for
Chapter 11 protection on July 29, 2010 (Bankr. D. Del. Case No.
10-12387).  The Debtor estimated assets and debts in excess of $1
billion as of the filing date.

Since filing in Chapter 11, Capmark completed three sales to
generate more than $1 billion cash. Berkshire Hathaway Inc. and
Leucadia National Corp. bought most of the business for
$468 million.

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


CAPMARK FINANCIAL: Opposes Committee Plea to Pursue Claims
----------------------------------------------------------
Capmark Financial Group Inc. and its units, the Ad Hoc Committee
of Prepetition Secured Lenders and Citicorp North America, Inc.,
as administrative agent under the Term Facility Credit and
Guaranty Agreement, dated as of May 29, 2009, ask the Court to
deny the motion of the Official Committee of Unsecured Creditors
seeking authority to prosecute various claims and causes of action
on behalf of the Debtors' estates including, among others, to
avoid and recover fraudulent transfers and preferences and
equitably subordinate claims.

The Ad Hoc Committee owns over half of the 2009 Secured Credit
Facility debt.

The Debtors maintain that their settlement with the Secured
Lenders moots the Creditors' Committee's Standing Motion.  The
Debtors clarify that they have never refused to pursue the
avoidance claims enumerated in the Creditors' Committee's
proposed complaint.  The Debtors note that the Creditors'
Committee fails to show it is entitled to derivative standing and
to establish existence of colorable claims.

According to the Debtors, had they not reached a settlement, the
motion still have to be denied because the Creditors' Committee
is unable to satisfy the requirements for derivative standing
with regard to any of the causes of action contained in the
Creditors' Committee's complaint.  According to the Debtors, the
Creditors' Committee cannot establish that they have refused to
prosecute legitimate claims against the Secured Lenders.  The
Debtors add that the Creditors' Committee cannot make the
requisite showing that any of the causes of action contained in
its Proposed Complaint are colorable -- that is, sufficient to
survive a motion to dismiss for failure to state a claim.

The Ad Hoc Committee asserts that there is no basis for the
Creditors' Committee's demand to prosecute fraudulent transfer
claims against lenders to the 2009 Secured Facility.  According
to the Ad Hoc Committee, granting the Creditors' Committee
standing would nullify a hard fought and hugely beneficial
settlement, and overburden the Debtors' estates with costly and
protracted litigation that has little chance of success.

The Ad Hoc Committee avers that the Standing Motion should be
denied because:

  (a) the Debtors have entered into a settlement with the
      Secured Lenders with respect to the Claims;

  (b) in order to obtain standing to take over the Debtors'
      claims, the Creditors' Committee must demonstrate that the
      Debtors violated their fiduciary duties by declining to
      prosecute the Claims;

  (c) the Standing Motion distorts the relevant fact and case
      law related to the merits of the underlying Claims that
      the Creditors' Committee wishes to usurp from the Debtors;
      and

  (d) to prevail in its motion, the Creditors' Committee must
      show that its prosecution of the Claims would create a net
      benefit to the estates.

For its part, Citicorp contends that the Standing Motion
threatens to raise what is essentially a time-barred preference
action as a means to undermine the Debtors' efforts to actively
negotiate with the Secured Lenders and advance their bankruptcy
cases toward confirmed plans of reorganizations.  Citicorp
maintains that the Creditors' Committee's dissatisfaction with
the Debtors' efforts is not a valid basis for the Court to grant
the relief requested in the Standing Motion.

According to Citicorp, an objective assessment of the undisputed
facts in the Debtors' cases and applicable law makes clear that
the claims the Creditors' Committee seeks authority to allege
would not survive summary judgment.

              Ad Hoc Group Supports Standing Motion

The Ad Hoc Group of Holders of Capmark's Unsecured Bank Debt
maintains that the Standing Motion demonstrates that it is
imperative that a fiduciary that was not involved in the
structuring, negotiation and execution of the Secured Credit
Facility be granted the authority to pursue those claims with
respect to the liens granted under that facility.  Given that the
Debtors' current senior personnel were immediately involved in
that transaction, the Debtors are not the appropriate party to
handle this critical element of the Chapter 11 case on behalf of
their estates, the Ad Hoc Group asserts.  Accordingly, the Ad Hoc
Unsecured Bank Group supports the Creditors' Committee's request.

         Dune Denies Creditors' Committee's Allegations

Dune Real Estate Fund LP and Dune Real Estate Parallel Fund LP
take no position on whether the Creditors' Committee or the
Debtors is or are the appropriate party or parties to pursue any
claims.  Rather, Dune disputes the Creditors' Committee's
allegations and reserves all its rights to assert whatever
defenses it believes are appropriate in connection with any
claims, if and when those claims are brought.

In its motion, the Creditors' Committee alleges that a $1.5
billion secured loan facility entered into by the Debtors and
several lenders, including Dune should be avoided as a fraudulent
conveyance.  The Creditors' Committee also alleges that Dune was
an insider of Capmark at the time of the Refinancing Transaction
and hence, the lien granted in connection with the Refinancing
Transaction should be avoided as a preferential transfer.

Counsel for Dune, Gregg M. Galardi, Esq., at Skadden, Arps,
Slate, Meagher & Flom LLP, in Wilmington, Delaware, avers that
the only way the Creditors' Committee can attempt to void and
recover, as a preference, the consideration that Dune received is
to allege that Dune was an insider of Capmark at the time of the
transaction.

Accepting as true the Creditors' Committee's allegations that
Dune owns equity in GMACCH Investor LLC and that Daniel Neidich
has been a director since March 2006, those allegations are
woefully insufficient to entitle the Creditors' Committee to
relief on its claim that Dune was an insider, Mr. Galardi
contends.

Mr. Galardi asserts that Dune only owns 3.2% of GMACCH Investor
LLC, well below the threshold necessary to satisfy the Bankruptcy
Code definition of "affiliate."

"Because Dune was such a small participant in the Refinancing
Transaction and played no active role in the negotiation of its
terms, and because Mr. Neidich recused himself from the Capmark
board meeting where the board approved the Refinancing
Transaction, the Committee simply has no basis to suggest that
the Refinancing Transaction was not conducted at arms' length
between Dune and Capmark," Mr. Galardi maintains.

                   Goldman Lenders Respond

Goldman Sachs Credit Partners L.P., Goldman Sachs Canada Credit
Partners Co., Goldman Sachs Mortgage Company, and Goldman Sachs
Lending Partners LLC strongly take issue with the Creditors'
Committee's gross mischaracterization of the facts relating
to the Preference Claim and the Goldman Lenders' roles in the
Secured Credit Facility.

According to the Goldman Lenders, the Creditors' Committee
attempts to spin a web out of a number of proper and typical
individual relationships between Capmark and Goldman Sachs that
cannot separately satisfy any insider standard, statutory or non-
statutory, with the hope that the whole of the web will somehow
be greater than the sum of its parts.  Unfortunately for the
Creditors' Committee, its web unravels in light of the actual
facts at issue and governing law, the Goldman Lenders assert.

The Goldman Lenders tell the Court that the Standing Motion,
including the Proposed Complaint, contains many allegations
regarding the conduct of Goldman Sachs and the Goldman Lenders in
connection with the Secured Credit Facilities.  According to the
Goldman Lenders, the gravamen of the Proposed Complaint is that
the Goldman Lenders used the Goldman Affiliates' positions as
equity holders of CFGI and Bradley Gross' position as a director
of CFGI to enhance its prepetition unsecured debt position as a
Lender by means of the Secured Credit Facility.

The Goldman Lenders aver that they did not, and could not, use
Goldman Sachs' position as an equity holder of CFGI, or Mr.
Gross' position as a director of CFGI, to enhance their
prepetition unsecured debt positions, for a variety of
reasons, including:

  * the Goldman Lenders were not on the Lenders' restructuring
    steering committee and were not even active participants in
    the negotiations surrounding the Secured Credit Facility
    Agreement;

  * Mr. Gross did not even discuss the Secured Credit Facility
    Agreement or the related transactions with the bankers who
    were following the Lender discussions and negotiations on
    behalf of the Goldman Lenders;

  * at the time CFGI and its guarantor subsidiaries entered into
    the Secured Credit Facility Agreement, Mr. Gross was not
    even aware of the magnitude of the Goldman Lenders' debt
    positions with respect to the Debtors; and

  * Goldman Sachs has always owned less than 20% of one of the
    holding companies that held CFGI stock.

Thus, the Goldman Lenders assert that they cannot be portrayed as
insiders of the Debtors under either the statutory insider or
non-statutory insider standards.

                      About Capmark Financial

Based in Horsham, Pennsylvania, Capmark Financial Group Inc. --
http://www.capmark.com/-- is a diversified company that provides
a broad range of financial services to investors in commercial
real estate-related assets.  Capmark has three core businesses:
lending and mortgage banking, investments and funds management,
and servicing.  Capmark operates in North America, Europe and
Asia.  Capmark has 1,000 employees located in 37 offices
worldwide.

On October 25, 2009, Capmark Financial Group Inc. and certain of
its subsidiaries filed voluntary petitions for relief under
Chapter 11 (Bankr. D. Del. Case No. 09-13684)

Capmark's financial advisors are Lazard Freres & Co. LLC and
Loughlin Meghji + Company.  Capmark's bankruptcy counsel is Dewey
& LeBoeuf LLP.  Richards, Layton & Finger, P.A., serves as local
counsel.  Beekman Advisors, Inc., is serving as strategic advisor.
KPMG LLP is tax and accounting advisor.  Epiq Bankruptcy
Solutions, LLC, is the claims and notice agent.

Capmark had total assets of US$20 billion against total debts of
US$21 billion as of June 30, 2009.

Protech Holdings C, LLC, an affiliate of Capmark, filed for
Chapter 11 protection on July 29, 2010 (Bankr. D. Del. Case No.
10-12387).  The Debtor estimated assets and debts in excess of $1
billion as of the filing date.

Since filing in Chapter 11, Capmark completed three sales to
generate more than $1 billion cash. Berkshire Hathaway Inc. and
Leucadia National Corp. bought most of the business for
$468 million.

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


CAPMARK FINANCIAL: Insists on Payments for Cash Collateral Use
--------------------------------------------------------------
The Official Committee of Unsecured Creditors formed in Capmark
Financial Group Inc.'s cases is asking the U.S. Bankruptcy Court
to enter an order terminating any additional principal payments to
CitiCorp North America, Inc., the prepetition administrative
agent under a Term Facility and Guaranty Agreement dated as of
May 29, 2009, for the benefit of Citibank, N.A., as Collateral
Agent, JPMorgan Chase Bank, N.A., as Syndication Agent, and
Citigroup Global Markets Inc., and J.P. Morgan Securities, Inc.,
as Joint Lead Arrangers and Joint Bookrunners.

In separate filings, the Debtors and the Ad Hoc Committee of
Prepetition Secured Lenders ask the Court to deny the motion of
the Official Committee of Unsecured Creditors seeking entry of an
order terminating the requirement that additional principal
payments be made subject to the Cash Collateral Order.

As previously reported, the Creditors' Committee asked the Court
to terminate any additional principal payments to CitiCorp North
America, Inc., the prepetition administrative agent under a Term
Facility and Guaranty Agreement dated as of May 29, 2009, for the
benefit of Citibank, N.A., as Collateral Agent, JPMorgan Chase
Bank, N.A., as Syndication Agent, and Citigroup Global Markets
Inc., and J.P. Morgan Securities, Inc., as Joint Lead Arrangers
and Joint Bookrunners.

The Debtors maintain that the Cash Collateral Order provides that
the Creditors' Committee can move to terminate Principal Payments
when those payments exceed $400 million.

Thus, the Debtors ask the Court to deny the motion for two
reasons:

  (1) The Debtors would suffer a negative interest rate spread
      between the rate they earn on their deposited cash and the
      interest due on the Secured Claims.  The current interest
      rate on the Secured Claims is 4.75 percent, while the
      Debtors earn no more than 0.05 percent on deposited cash
      and on much of the cash they earn less or nothing.  By
      paying it to the Prepetition Secured Lenders as principal
      reduction of the amount of the Secured Claims, the Debtors
      achieve a favorable interest rate spread that benefits the
      Debtors' estates and all unsecured claimholders; and

  (2) Because Principal Payments are economically advantageous,
      the only reason to question the decision to continue
      making Principal Payments is if the Debtors believed the
      Prepetition Secured Lenders pose a collection risk in the
      event disgorgement is ordered.

For its part, the Ad Hoc Committee contends that the motion is
untimely and should be denied.  The Ad Hoc Committee relates that
pursuant to the Cash Collateral Order, Principal Termination
Motions are only permitted "upon payment by the Debtors of
Principal Payments totaling $400 million," and not before.

The Creditors' Committee previously argued that the motion is
timely because the next principal payment will exceed the $400
million threshold.  However, the Ad Hoc Committee asserts that
due to the fact that principal payments are made in lump sums
every quarter, all parties anticipated or should have anticipated
that there may be a payment that results in the principal
payments exceeding the $400 million threshold by a large amount
before the Creditors' Committee would be allowed to file a
Principal Termination Motion.

Accordingly, the Ad Hoc Committee asks the Court to deny the
Creditors' Committee's motion because:

  (a) it violates a time bar that the Creditors' Committee
      itself negotiated and the Court approved; and

  (b) the provisions of the Cash Collateral Order were
      negotiated and executed pursuant to the Debtors'
      legitimate business judgment, and provide significant
      benefits to the Debtors' estates.

The Ad Hoc Committee represents the interests of certain
prepetition secured lenders to the Debtors pursuant to the Term
Facility Credit and Guaranty Agreement, dated as of May 29, 2009,
in the principal amount of $1.5 billion.  The members of the Ad
Hoc Committee own more than half of the 2009 Secured Credit
Facility debt.

In a separate filing, Citicorp North America, Inc., filed a
joinder in support of the objection of the Ad Hoc Committee.

                      About Capmark Financial

Based in Horsham, Pennsylvania, Capmark Financial Group Inc. --
http://www.capmark.com/-- is a diversified company that provides
a broad range of financial services to investors in commercial
real estate-related assets.  Capmark has three core businesses:
lending and mortgage banking, investments and funds management,
and servicing.  Capmark operates in North America, Europe and
Asia.  Capmark has 1,000 employees located in 37 offices
worldwide.

On October 25, 2009, Capmark Financial Group Inc. and certain of
its subsidiaries filed voluntary petitions for relief under
Chapter 11 (Bankr. D. Del. Case No. 09-13684)

Capmark's financial advisors are Lazard Freres & Co. LLC and
Loughlin Meghji + Company.  Capmark's bankruptcy counsel is Dewey
& LeBoeuf LLP.  Richards, Layton & Finger, P.A., serves as local
counsel.  Beekman Advisors, Inc., is serving as strategic advisor.
KPMG LLP is tax and accounting advisor.  Epiq Bankruptcy
Solutions, LLC, is the claims and notice agent.

Capmark had total assets of US$20 billion against total debts of
US$21 billion as of June 30, 2009.

Protech Holdings C, LLC, an affiliate of Capmark, filed for
Chapter 11 protection on July 29, 2010 (Bankr. D. Del. Case No.
10-12387).  The Debtor estimated assets and debts in excess of $1
billion as of the filing date.

Since filing in Chapter 11, Capmark completed three sales to
generate more than $1 billion cash. Berkshire Hathaway Inc. and
Leucadia National Corp. bought most of the business for
$468 million.

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


CARIBBEAN PETROLEUM: Judge Denies Transfer of Venue
---------------------------------------------------
Bankruptcy Law360 reports that Judge Kevin Gross of the U.S.
Bankruptcy Court for the District of Delaware on Wednesday
rejected an attempt by the Puerto Rico Treasury Department to
transfer Caribbean Petroleum Inc.'s bankruptcy case to a court in
its jurisdiction, clearing the way for the company to begin
arranging for the sale of its assets.

Meanwhile, American Bankruptcy Institute reports that unsecured
creditors are protesting Caribbean Petroleum Corp.'s request for a
bankruptcy loan, saying that the deal is designed to benefit the
lender at the expense of unsecured creditors.

                     About Caribbean Petroleum

San Juan, Puerto Rico-based Caribbean Petroleum Corporation, aka
CAPECO, owns and operates certain facilities in Bayomon, Puerto
Rico for the import, offloading, storage and distribution of
petroleum products.

Cribbean Petroleum filed for Chapter 11 protection (Bankr. D. Del.
Case No. 10-12553) on August 12, 2010, nearly 10 months after a
massive explosion at its major Puerto Rican fuel storage depot
virtually shut down the company's operations.  The Debtor
estimated assets at US$100 million to US$500 million and debts at
US$500 million to US$1 billion as of the Petition Date.

Affiliates Caribbean Petroleum Refining, L.P., and Gulf Petroleum
Refining (Puerto Rico) Corporation filed separate Chapter 11
petitions on August 12, 2010.

The Debtors' lead counsel is Cadwalader, Wickersham & Taft LLP.
The Debtors' financial advisor is FTI Consulting Inc.  The
Debtors' chief restructuring officer is Kevin Lavin of FTI
Consulting Inc.


CHERYL TURNER: Case Summary & 8 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Cheryl D. Turner
        434 Ralston Street
        San Francisco, CA 94132

Bankruptcy Case No.: 10-33508

Chapter 11 Petition Date: September 8, 2010

Court: U.S. Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Dennis Montali

Debtor's Counsel: William F. McLaughlin, Esq.
                  LAW OFFICES OF WILLIAM F. MCLAUGHLIN
                  1305 Franklin Street, #301
                  Oakland, CA 94612
                  Tel: (510)839-4456
                  E-mail: mcl551@aol.com

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

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

A list of the Debtor's eight largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-33508.pdf


CIRCUIT CITY: Wins Court Approval of Liquidating Plan
-----------------------------------------------------
Judge Kevin R. Huennekens of the U.S. Bankruptcy Court for the
Eastern District of Virginia confirmed the Second Amended Joint
Plan of Liquidation filed by Circuit City Stores, Inc., its
debtor-affiliates, and the Official Committee of Unsecured
Creditors dated August 9, 2010.

"This is 'the best way to get cash to creditors as fast as we
can,'" the Richmond Times-Dispatch quoted Judge Huennekens as
saying at the hearing held September 8, 2010.

All remaining unresolved objections were heard by Court and
overruled, according to the court docket.  An official order
confirming Circuit's Plan is yet to be entered by the Court.

The Second Amended Joint Plan is expected to become effective by
the end of the month, according to the Times-Dispatch.

Once the Plan becomes effective, Alfred H. Siegel, who was chosen
as the Liquidating Trustee, will be responsible for, among other
things, the distribution of roughly $450,000,000 to creditors.

The (i) unsecured creditors will get between 10% and 32% of the
amounts they are owed, (ii) secured creditors will recover 100%
of what they are owed, (iii) priority claim holders will get 100%
of the amounts they are owed, and (iv) shareholders will receive
no distribution, notes the report.

As much as $100,000,000 from the Canadian Proceeds could be added
to the liquidation fund, but it could take several months before
this is known.  The Canadian Court still needs to rule on certain
issues before the Second Amended Joint Plan can "officially go
into effect," the Times-Dispatch said.

Judge Huennekens, however, having spoken with the Canadian Court,
is confident that the Canadian proceeding "would be on track,"
the Times-Dispatch added.

Confirmation of Circuit City's Liquidation Plan had been delayed
for months by procedural issues and squabbles between the company
and the Creditors Committee over payment details and an
outstanding tax matter related to the sale of Circuit City's
Canadian division.  In June, Judge Huennekens sent both parties
to mediation to settle their issues.  The confirmed Liquidation
Plan was a result of that mediation.

                         Plan Confirmable

On September 3, 2010, the Plan Proponents filed a memorandum in
support of confirmation of their Second Amended Plan, pursuant to
Section 1129 of the Bankruptcy Code.

The Plan Proponents believe, as demonstrated by a liquidation
analysis dated September 3, 2010, that the Second Amended Joint
Plan presents the best possible means under the circumstances by
which to distribute the proceeds of the liquidation of the
Debtors' assets to stakeholders and is consistent with the
statutory priorities contained in the Bankruptcy Code, according
to Douglas M. Foley, Esq., at McGuireWoods LLP, in Richmond,
Virginia.

Liquidation pursuant to Chapter 11 proposed in the Second Amended
Joint Plan will avoid unnecessary delay and additional costs that
would be incurred if the Chapter 11 Cases were converted to
Chapter 7, Mr. Foley tells the Court.

Mr. Foley notes that 66 objections were filed to the Plan and
that all but 12 of them have been resolved.  The Plan Proponents
assert that each of the remaining objections is without merit and
should be overruled.

A copy of the Liquidation Analysis and schedules of the
Objections and Unresolved Objections are available at no charge
at http://bankrupt.com/misc/CC_LiqAnalysis&ObjSked090310.pdf

The Plan is in the best interests of the Debtors' estates,
creditors and other stakeholders, as evidenced by the Plan
formulation process, the Plan voting results and the resolution
of the majority of substantive objections to the Plan, Mr. Foley
asserts.

Notwithstanding the overwhelming acceptance of the Plan, the Plan
Proponents recognize their obligation under the Bankruptcy Code
to demonstrate by a preponderance of the evidence that the Plan
satisfies the requirements of Section 1129 of the Bankruptcy
Code.

Accordingly, the Plan Proponents tell the Court that the Second
Amended Plan meets all of the requisite elements of Sections
1122, 1123 and 1129 of the Bankruptcy Code based on these facts:

  (a) The Plan complies with the applicable provisions of
      Section 1129(a)(1) and Sections 1122 and 1123 in all
      respects.  The Plan provides for the separate
      classification and treatment of Claims and Interests with
      respect to the Debtors based upon differences in the legal
      nature or priority of the Claims and Interests.  Holders
      of Claims and Interests in all Classes will receive the
      same treatment within each Class, unless the Holder of a
      particular Claim has agreed to less favorable treatment
      with respect to its Claim.  The Plan also sets forth
      provisions to facilitate its implementation.

      The Plan also provides that the "Consolidated Debtors" and
      InterTAN, Inc. will be dissolved, cease to exist, and will
      have no constituent documents or equity securities on the
      effective date of the Plan.  The Consolidated Debtors'
      assets will be transferred to the Liquidating Trust.  All
      Interests in the Consolidated Debtors will be cancelled on
      the Effective Date.  Section 1123(a)(6) is inapplicable to
      these Debtors.  InterTAN's assets will be transferred to
      Tourmalet Corporation.

      Ventoux International, Inc. will continue to exist after
      the Effective Date.  With respect to Ventoux, the Plan has
      been revised to provide that it will not issue any non-
      voting securities and, to the extent necessary, will
      include this provision in its charter.  Section 1123(a)(6)
      has been satisfied with respect to Ventoux.  The sole
      officer and director of Ventoux will be Alan M. Jacobs.

      The Plan provides that the Liquidating Trustee will be
      Alfred H. Siegel, who has significant experience in
      similar situations and served as Chief Restructuring
      Officer of the Debtors between March and June of 2010.

  (b) The Plan complies with the applicable provisions of
      Section 1129(a)(2).  The Plan Proponents have satisfied
      the solicitation requirements imposed by Section 1125 of
      the Bankruptcy Code and Rules 3017 and 3018 of the Federal
      Rules of Bankruptcy Procedure.

  (c) The Plan Proponents have acted in good faith in proposing
      and pursuing confirmation of the Plan, satisfying Section
      1123(a)(3).

  (d) The Plan provides that all unpaid Professional Fees
      incurred before the Effective Date will be subject to
      final allowance or disallowance upon application to the
      Bankruptcy Court pursuant to the Bankruptcy Code.  The
      Plan also provides that the Bankruptcy Court will retain
      jurisdiction after the Effective Date to hear and
      determine all fee applications of Professionals under the
      Plan or under Sections 330, 331, 503(b), 1103 and
      1129(a)(4) of the Bankruptcy Code.  The Plan, thus, fully
      complies with the requirements of Section 1129(a)(4).

  (e) The Plan provides for the liquidation and dissolution of
      the Consolidated Debtors and InterTAN.  As of the
      Effective Date, the members of the board of directors,
      managers, or partners, as the case may be, of each of the
      Debtors will be deemed to have resigned.  The Consolidated
      Debtors and InterTAN will cease to have any management.

      Ventoux will continue to exist after the Effective Date
      until it is dissolved in accordance with the Plan.  Alan
      M. Jacobs, as the sole officer and director of Ventoux,
      will be compensated for his services at $5,000 per month.

      The Plan provides that the Liquidating Trustee will serve
      as trustee of the Liquidating Trust, which will carry out
      the provisions of the Plan with respect to the
      Consolidated Debtors after the Effective Date, after their
      dissolution.  Alfred Siegel will ably represent the
      Debtors' Creditors in his management of the Liquidating
      Trust in conjunction with the Liquidating Trust Oversight
      Committee.  Mr. Siegel will be compensated for his
      services as Liquidating Trustee at $550 per hour.

      The members of the Liquidating Trust Oversight Committee
      will be Hewlett Packard Company, Simon Property Group,
      Inc., Weidler Settlement Class, Paramount Home
      Entertainment, Inc., Developers Diversified Realty Corp.,
      Peter Kravitz, and Michelle O. Mosier.

      Accordingly, the Plan Proponents have satisfied the
      requirements of Section 1129(a)(5).

  (f) Section 1129(a)(6) of the Plan is satisfied because the
      Plan does not provided for any change in rates over which
      a governmental regulatory commission has jurisdiction.

  (g) Under the Plan, general unsecured creditors are expected
      to receive a recovery of between 10% and 32%.  Holders of
      Claims and Interests in Classes 5A, 6A, 7A and 8A would
      receive no recovery.  Each dissenting Holder of a Claim or
      Interest in each Impaired Class will receive or retain
      under the Plan, on account of its Claim or Interest,
      property of a value, as of the Effective Date of the Plan,
      that is not less than the amount that it would receive in
      a Chapter 7 liquidation of the Debtors' assets on that
      date.  The Plan, therefore, satisfies the requirements of
      Section 1129(a)(7).

  (h) Section 1129(a)(8) requires that each class of claims or
      interests under a plan either has accepted the plan or is
      not impaired by the plan.  Class 3A and Classes 4A through
      4C have voted to accept the Plan, satisfying Section
      1126(c) of the Bankruptcy Code with respect to those
      classes.  Classes 5A, 6A, 7A and 8A will neither receive
      nor retain any property under the Plan and, therefore, are
      deemed to have rejected the Plan.  The Debtors have also
      met the "cramdown" requirements in Section 1129(b) of the
      Bankruptcy Code necessary to obtain confirmation of the
      Plan notwithstanding the deemed rejection of the Plan by
      Classes 5A through 8A.

  (i) All Administrative Claims and Non-Tax Priority Claims that
      are Allowed Claims on the Effective Date will be paid on
      the Initial Distribution Date, which is defined as "the
      Effective Date or as soon thereafter as may be reasonably
      practicable, but in any event no later than the fifth
      Business Day following the Effective Date."  The Plan
      Proponents submits that the Plan satisfies the
      requirements set forth in Section 1129(a)(9) with respect
      to the payment of these Claims.

  (j) Classes 3A and 4A through 4C have voted to accept the
      Plan, and the Debtors believe that these classes do not
      contain any significant number of insiders.  Thus, at
      least one Class of Claims that is Impaired under the Plan
      has accepted the Plan, determined without including any
      acceptance of the Plan by any insider.  The requirement of
      Section 1129(a)(10) has been met.

  (k) The Plan is feasible because, as demonstrated in the
      Liquidation Analysis and the Supplement, the proceeds
      realized by the Debtors in the sale of substantially all
      of their assets will be sufficient to satisfy all Allowed
      Administrative and Priority Claims in full.  While the
      Canadian Proceeds, if repatriated, will increase returns
      to unsecured Creditors, these proceeds are not necessary
      for the Plan to be feasible and unsecured Creditors will
      receive a material recovery regardless.  The Plan also
      provides for the creation of the Reserves to help ensure
      that adequate funds will be available for distribution to
      Administrative, Priority and Secured Claimants.

      There is a reasonable probability that the provisions of
      the Plan will be performed and confirmation is not likely
      to be followed by the need for further financial
      reorganization of the Debtors.  Therefore, the Plan
      satisfies Section 1129(a)(11).

  (l) All fees due and payable on or before the Effective Date
      pursuant to Section 1930 of the Judiciary and Judicial
      Procedure Code, as determined by the Bankruptcy Court at
      the confirmation hearing, will be paid on or before the
      Effective Date by the Debtors.  All fees that become due
      and payable thereafter by a Debtor will be paid by the
      Liquidating Trustee pursuant to the Plan.  Section
      1129(a)(12) is, therefore, satisfied.

  (m) The retirement plan provided by the Debtors -- the
      Retirement Plan of Circuit City Stores, Inc. -- was
      terminated by agreement between the Debtors and the
      Pension Benefit Guaranty Corporation, effective March 31,
      2009.  PBGC was appointed trustee of the Retirement Plan.
      At this time, the Debtors have no further obligation to
      provide retiree benefits.  The requirements of Section
      1129(a)(13) are, thus, satisfied.

Against this backdrop, the Plan Proponents ask the Court to
confirm the Second Amended Joint Plan.

The Plan Proponents also filed a proposed order for the
confirmation of their Second Amended Joint Plan, a copy of which
is available at no charge at:

http://bankrupt.com/misc/CC_Proposed2ndAmPConfOrd090310.pdf

                     Confirmation Objection

Marlon Mondragon, on behalf of himself and all others similarly
situated, objected to the Second Amended Plan of Liquidation of
the Debtors and the Official Committee of Unsecured Creditors,
dated August 9, 2010, saying it cannot be confirmed.
Mr. Mondragon timely filed a proof of claim for postpetition,
unpaid compensation or damages as required by the Workers
Adjustment and Notification Act, Section 2101 of the Labor Code
et seq.  The WARN Act Claimants believe the claim to be a
postpetition claim.  The Second Amended Plan attempts to deny the
claims of the WARN Act Claimants who did not receive notice or
compensation in lieu of notice as required by the WARN Act, Gary
E. Mason, Esq., at Mason, L.L.P., in Washington, DC, contended.

                       About Circuit City

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

Circuit City Stores together with 17 affiliates filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code on
November 10, 2008 (Bankr. E.D. Va. Lead Case No. 08-35653).
InterTAN Canada, Ltd., which runs Circuit City's Canadian
operations, also sought protection under the Companies' Creditors
Arrangement Act in Canada.

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

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

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


CIRCUIT CITY: Proposes InterTAN/Ventoux Settlement
--------------------------------------------------
Pursuant to Section 105 of the Bankruptcy Code and Rule 9019 of
the Federal Rules of Bankruptcy Procedure, Circuit City Stores
Inc. and its units ask the Court to approve their settlement
agreement and stipulation with the Postpetition Officers and
Directors of InterTAN, Inc. and Ventoux International, Inc.

Circuit City Stores, Inc. is the direct or indirect parent of all
of the other Debtors.  In addition, as the result of a multi-step
transaction in May 2004, Circuit City, through various
subsidiaries, acquired InterTAN Canada Ltd. and its subsidiaries,
including its 99.9% of interest in InterTAN France SNC, Douglas
M. Foley, Esq., at McGuireWoods LLP, in Richmond, Virginia,
relates.

On March 30, 2004, Circuit City and a wholly owned subsidiary,
Winston Acquisition Corporation, entered into an Acquisition
Agreement and Plan of Merger with InterTAN, Inc. or Old InterTAN
pursuant to which Winston would purchase all the outstanding
shares of Old InterTAN's common stock, and, thereafter, merge
with Old InterTAN to form InterTAN, Inc.  At that time, Old
InterTAN was parent of InterTAN Canada and indirectly the parent
of InterTAN Canada's affiliates and subsidiaries.

To facilitate the merger, Circuit City caused two other
subsidiaries -- Ventoux and Tourmalet Corporation -- to be
formed.  Once the merger and related transactions were completed,
the corporate structure was: Circuit City wholly owned Ventoux;
Ventoux wholly owned Tourmalet and owned all of the outstanding
common shares of InterTAN; Tourmalet owned all of the
preferred shares of InterTAN; InterTAN owned InterTAN Canada;
InterTAN Canada continued to own 99.9% of the partnership
interests in InterTAN France; and 587225 Ontario Ltd.
continued to own 0.1% of the partnership interests in
InterTAN France.

Mr. Foley notes that on the same day that the Debtors filed their
Chapter 11 bankruptcy petitions, InterTAN Canada, a wholly owned
subsidiary of InterTAN, and Tourmalet, a wholly owned subsidiary
of Ventoux -- the Canadian Debtors -- commenced insolvency cases
in the Ontario Superior Court of Justice under the Companies'
Creditors Arrangement Act in Canada.  On March 10, 2009, the
Canadian Court entered an order approving the sale of
substantially all of InterTAN Canada's assets to 4458729 Canada
Inc., a subsidiary of Bell Canada -- the Canadian Sale.

To recall, pursuant to the Bankruptcy Court's June 24, 2010
Mediation Order, the Debtors and the Official Committee of
Unsecured Creditors commenced mediation with Honorable Frank J.
Santoro as the mediator.  The Plan Proponents reached an
agreement regarding their differences with respect to the First
Amended Joint Plan and the Creditors' Committee's Plan.

                      Potential Liability

In the mid-1980s, InterTAN Canada conducted business in France
through a "permanent establishment" in France and a subsidiary,
InterTAN France.  InterTAN Canada owns 99.9% of the shares in
InterTAN France; the remaining shares are owned by 587225 Ontario
Ltd., a wholly owned subsidiary of InterTAN Canada.

In 1993, InterTAN Canada decided to cease its business operations
in Europe.  InterTAN France's business operations were completely
shut down by May 31, 1994.  Between 1997 and 2000, a judicial
liquidator sold the assets of InterTAN Canada's French permanent
establishment and InterTAN France, and used the proceeds to
satisfy creditors' claims.

InterTAN Canada and InterTAN France might potentially be indebted
to France on account of one or more taxes.

Based on the Potential Liability, the Debtors and the Creditors'
Committee provided a "notice of circumstances" to old InterTAN's
prior director and officer liability insurers of facts and
circumstances that may give rise to one or more claims under the
insurance policies.

Based on the Potential Liability, the Debtors and the Creditors'
Committee are also evaluating whether to provide a notice of
circumstances to the Debtors' pre- and postpetition directors and
officers liability insurers of facts and circumstances that may
give rise to one or more claims under the insurance companies.

Bruce H. Besanko, Catherine W. Bradshaw, Heather M. Ferguson,
Reginald D. Hedgebeth, Jeffrey A. McDonald, Michelle O. Mosier,
John M. Oakey, III, and Danny W. Ramsey have served as
postpetition officers and directors of InterTAN and Ventoux
during the Debtors' Chapter 11 cases.

                   Indemnification Provisions

InterTAN's and Ventoux's articles of incorporation and bylaws
provide for indemnification of the Postpetition Officers and
Directors in accordance with corresponding the terms and
conditions and applicable state law.  The Postpetition Officers
and Directors may have administrative claims for indemnification.

The First Amended Joint Plan included certain provisions
exculpating and releasing the Postpetition Officers and Directors
for their postpetition conduct relating to the First Amended
Joint Plan and the Chapter 11 cases.

Pursuant to the Mediation Agreement, the Debtors and the
Creditors' Committee removed the Potential Liability from the
exculpation and release provisions in the Second Amended Joint
Plan.  The Plan Proponents further agreed that the Debtors would
enter into and seek Court approval of a settlement agreement with
the Postpetition Directors and Officers with respect to the
Potential Liability.

                      Settlement Agreement

According to Mr. Foley, the salient terms of the Settlement
Agreement include:

  (a) The Postpetition Officers and Directors waive any
      administrative claims against InterTAN and Ventoux and
      their bankruptcy estates for indemnification and
      contribution arising from or relating to any tax liability
      under French law relating to InterTAN Canada and InterTAN
      France.

  (b) InterTAN and Ventoux waive and release the Postpetition
      Officers and Directors from any and all claims,
      obligations, suits and liabilities, among others, relating
      to or arising from and after the Petition Date in
      connection with their role as postpetition officers and
      directors of InterTAN and Ventoux, including any claims,
      obligations, suits and liabilities, among others, arising
      from or relating to any tax liability under French law
      relating to InterTAN Canada, the French permanent
      establishment of InterTAN Canada, or InterTAN France.

A full-text copy of the Settlement Agreement is available at no
charge at:

http://bankrupt.com/misc/CC_IntertanVentouxPPODStip090310.pdf

The Potential Liability, if it exists at all, is very small, Mr.
Foley says.  The Debtors believe that any Potential Liability was
fixed before the Petition Date and, thus, there are no valid
claims that may be asserted against the Postpetition Officers and
Directors of InterTAN and Ventoux.

Mr. Foley asserts that approval of the Settlement Agreement is in
the best interests of the Debtors' estates and creditors because,
among other things, (i) litigation concerning the Potential
Liability could be very complex because it is not a liability at
either InterTAN or Ventoux, but at InterTAN Canada; (ii) the
Debtors believe that collecting any judgment that may be obtained
against the Postpetition Officers and Directors of InterTAN and
Ventoux could be difficult and time consuming; (iii) the mere
assertion of these claims against the Postpetition Officers and
Directors would inevitably give rise to claims for
indemnification, which would undermine the benefit of any
recovery on account of litigation against the Postpetition
Officers and Directors; and (iv) claims against the Postpetition
Officers and Directors will likely also trigger claims for
indemnification and reimbursement by certain officers and
directors of the Canadian Debtors.  The claim process that is now
nearly complete in the Canadian Bankruptcy Cases would likely be
reopened and the repatriation of any cash from the Canadian Sale
to the domestic Debtors' bankruptcy estates would be delayed, Mr.
Foley adds.

In separate filings, the Debtors further ask the Court to shorten
the notice period and limit notice of the motion, and to set an
expedited hearing for September 8, 2010, concurrent with the
confirmation hearing of the Plan.

                       About Circuit City

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

Circuit City Stores together with 17 affiliates filed a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code on
November 10, 2008 (Bankr. E.D. Va. Lead Case No. 08-35653).
InterTAN Canada, Ltd., which runs Circuit City's Canadian
operations, also sought protection under the Companies' Creditors
Arrangement Act in Canada.

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

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

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


CISTERA NETWORKS: Incurs $25,800 Net Loss in June 30 Quarter
------------------------------------------------------------
Cistera Networks, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $25,843 on $644,173 of revenue for the
three months ended June 30, 2010, compared with a net loss of
$192,691 on $457,967 of revenue for the three months ended
June 30, 2009.

As of December 30, 2008, the Company was in default on $148,000 of
principal and accrued interest on certain PP2 Notes.  In addition,
as of April 5, 2009, it was in default on $1.10 million of
principal and accrued interest on certain PP2 Notes.

The Company's balance sheet at June 30, 2010, showed $1.96 million
in total assets, $3.99 million in total liabilities, and a
stockholders' deficit of $2.03 million.

As reported in the Troubled Company Reporter on July 20, 2010,
Robison, Hill & Co., in Salt Lake City, Utah, expressed
substantial doubt about the Company's ability to continue as a
going concern, following its results for the fiscal year ended
March 31, 2010.  The independent auditors noted that the Company
has suffered recurring losses from operations and has a net
capital deficiency.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6afa

                    About Cistera Networks

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


CLAIRE'S STORES: Files Form 10-Q; $8.34MM Net Loss for July 31 Qtr
------------------------------------------------------------------
Claire's Stores Inc. filed its quarterly report on Form 10-Q for
the quarterly period ended July 31, 2010, with the Securities and
Exchange Commission.

As reported in the Troubled Company Report, on September 6, 2010,
the Company said in a news release that it incurred a net loss of
$8.34 million in the three months ended July 31, 2010, compared
with a net loss of $3.73 million in the three months ended Aug. 1,
2009.

The Company's balance sheet at July 31, 2010, showed $2.76 billion
in total assets, $2.641 billion in total liabilities, and a
stockholders' deficit of $62.33 million

A full-text copy of the Earning Release is available for free
at http://ResearchArchives.com/t/s?6ab8

A full-text copy of the quarterly report on Form 10-Q is available
for free at http://ResearchArchives.com/t/s?6b01

                      About Claire's Stores

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.


COMSTOCK MINING: Files August Technical Report
----------------------------------------------
Comstock Mining Inc. disclosed the highlights of its second
National Instrument 43-101 technical report authored by Behre
Dolbear & Company (USA), Ltd., of Denver Colorado.

The August Report declared a mineral resource estimate for the
Comstock Mine Project in Storey and Lyon Counties, Nevada, of
Measured and Indicated Resources containing 1,060,000 gold
equivalent ounces, and an estimate of an Inferred Resource
containing an additional 380,000 gold equivalent ounces.  The
total of 1,440,000 Measured, Indicated, and Inferred gold
equivalent ounces is a 57% increase over the estimate reported in
the Company's previous NI 43-101 technical report, published in
May, 2010.

A full-text copy of the regulatory filing is available for free at
http://ResearchArchives.com/t/s?6b00

                      About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. f/k/a Goldspring,
Inc. (OTC BB: LODE) is a North American precious metals mining
company, focused in Nevada, with extensive, contiguous property in
the Comstock Lode District.  The Company began acquiring
properties in the Comstock in 2003.  Since then, the Company has
consolidated a significant portion of the Comstock Lode District,
amassed the single largest known repository of historical and
current geological data on the Comstock Lode region, secured
permits, built an infrastructure and brought the exploration
project into test mining production.

On July 21, 2010, the Company changed its name from "GoldSpring,
Inc." to "Comstock Mining Inc.," by way of a merger with a wholly
owned subsidiary of Comstock Mining Inc. that was formed solely
for the purpose of changing the Company's name.

As reported in the Troubled Company Reporter on April 15, 2010,
Jewett, Schwartz, Wolfe & Associates expressed substantial doubt
about Goldspring, Inc.'s ability to continue as a going concern
after auditing the Company's financial statements for the year
ended December 31, 2009.  The independent auditors noted that the
Company has operating and liquidity concerns and has incurred
historical net losses approximating $55.0 million as of
December 31, 2009.  The Company also used cash in operating
activities of $3.6 million in 2009.


CONSOLIDATED RESORTS: Closes Sale of Timeshares
-----------------------------------------------
Dow Jones' DBR Small Cap reports that the bankruptcy official
liquidating Consolidated Resorts Inc. closed a deal to sell the
timeshare owner's Las Vegas and Hawaii vacation properties back to
its longtime leader.

Consolidated Resorts filed for Chapter 7 bankruptcy protection
(Bankr. D. Nev. Lead Case No. 09-22035) on July 7, 2009.  William
A. Leonard, Jr., serves as Chapter 7 Trustee.

Lenard E. Schwartzer, Esq., at Schwartzer & McPherson Law Firm in
Las Vegas, serves as counsel to the Debtor.  James P. Hill, Esq.,
Christine A. Roberts, Esq., and Elizabeth E. Stephens, Esq., at
Sullivan, Hill, Lewin, Rez & Engel in Las Vegas, serves as general
counsel for the Chapter 7 Trustee.


CROWN MEDIA: Posts $9.0 Million Net Loss in June 30 Quarter
-----------------------------------------------------------
Crown Media Holdings, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $9.0 million on $65.7 million of
revenue for the three months ended June 30, 2010, compared with a
net loss of $5.3 million on $68.2 million of revenue for the same
period of 2009.

On June 29, 2010, the Company consummated a series of
recapitalization transactions pursuant to a Master
Recapitalization Agreement dated February 26, 2010, by and among
the Company, Hallmark Cards, HCC and related entities.

Among other things, the Recapitalization included the following:

  -- Exchange of approximately $1.162 billion of debt for new
     debt, preferred stock and common stock;

  -- Mergers of two intermediate holding companies, Hallmark
     Entertainment Investments Co. and Hallmark Entertainment
     Holdings, Inc., with and into the Company;

  -- Reclassification of Class B shares of common stock into
     shares of Class A common stock upon the filing of the Second
     Amended and Restated Certificate of Incorporation; and

  -- Approval and authorization for the future filing of the Third
     Amended and Restated Certificate of Incorporation, the
     principal effect of which would be a reverse split of shares
     of common stock at such time as authorized by the Company's
     Board of Directors.

Immediately after consummation of the Mergers and issuance of
common stock in partial exchange for HCC Debt, HCC owned
approximately 90.3% of the Company's Class A common stock and all
of the outstanding Preferred Stock.

The Company's balance sheet as of June 30, 2010, showed
$695.8 million in total assets, $682.0 million in total
liabilities, and stockholders' equity of $13.8 million.

KPMG LLP, in Denver, expressed substantial doubt about Crown Media
Holdings, Inc.'s ability to continue as a going concern, following
its 2009 results.  The independent auditors noted of the Company's
significant short-term debt obligations.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6af8

                        About Crown Media

Studio City, Calif.-based Crown Media Holdings, Inc. (NASDAQ:
CRWN) -- http://www.hallmarkchannel.com/-- owns and operates
cable television channels dedicated to high quality, broad appeal,
entertainment programming.  The Company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to 90 million subscribers in the U.S.
Crown Media also operates a second 24-hour linear channel,
Hallmark Movie Channel, available in both HD and SD, which focuses
on family-friendly movies with a mix of classic theatrical films,
presentations from the acclaimed Hallmark Hall of Fame library,
original Hallmark Channel movies and special events.


DENNY HECKER: Pleads Guilty to Two Fraud Charges
------------------------------------------------
Denny Hecker on Tuesday pleaded guilty to two fraud charges:
concealing assets from the bankruptcy court and lying to get
multimillion-dollar loans for his dealerships and leasing
operation, according to the St. Paul Pioneer Press.  Mr. Hecker
began negotiating a plea deal last week Friday the day after the
government sought to put him in jail, and a hearing had been
scheduled for Wednesday.

The report says U.S. District Judge Joan Ericksen approved the
plea deal Tuesday, which could result in up to 10 years in prison
for Mr. Hecker.

                        About Denny Hecker

Dennis E. Hecker owned and operated dozens of auto dealerships,
car rental franchises, and other businesses until 2009. He filed a
voluntary chapter 7 petition (Bankr. D. Minn. Case No. 09-50779)
on June 4, 2009, after his auto empire collapsed into bankruptcy.

Chrysler Financial filed a dischargeability action (Bankr. D.
Minn. Adv. Pro. No. 09-5019) on July 8, 2009.  Chrysler Financial
alleged that $83 million of $350 million owed is nondischargeable
under 11 U.S.C. Sec. 523(a) because Mr. Hecker allegedly obtained
it through the use of false pretenses, false representations,
fraud, defalcation, and embezzlement.  The Honorable Robert J.
Kressel granted Chrysler Financial's motion for sanctions and
ordered $83 million of the judgment against Mr. Hecker, together
with accrued interest, not dischargeable in the Chapter 7
bankruptcy case.


DENNY'S CORP: August 2010 Sales Improve Year Over Year
------------------------------------------------------
Denny's Corporation provided an update on its August 2010 Same
Store Sales, which represented improvement year over year, and on
its Flying J conversions.

  * Company SSS: August: -1.0%; Quarter to date: -1.3%

  * Company Guest Count: August: +2.4%; Quarter To date: +2.1%

  * Franchise SSS: August: -1.3%; Quarter To date: -2.1%

  * Through the end of August, 2010 the Denny's system had
    converted 35 "Flying J" restaurants to Denny's, a pace that is
    ahead of its initial schedule of conversions

                           About Denny's

Based in Spartanburg, South Carolina, Denny's Corporation (NASDAQ:
DENN) -- http://www.dennys.com/-- Denny's is one of America's
largest full-service family restaurant chains, consisting of 1,348
franchised and licensed units and 232 company-owned units, with
operations in the United States, Canada, Costa Rica, Guam, Mexico,
New Zealand and Puerto Rico.

The Company's balance sheet for June 30, 2010, showed
$296.6 million in total assets, $409.5 million in total
liabilities, and a stockholders' deficit of $112.9 million.

Denny's carries "B2" corporate family and probability of default
ratings from Moody's Investors Service.


DUBAI WORLD: May Postpone Reply Date for Creditors
--------------------------------------------------
Dubai World may extend by several days the deadline given to
creditors to reply to its debt restructuring proposal, set
initially for today, because of the Eid Al-Fitr Muslim holiday,
Bloomberg News reported, quoting from a report by newspaper
al-Bayan, which cited unidentified bankers.

Dow Jones' Daily Bankruptcy Review reported the Dubai World
restructuring deal attracted more than 90% support.  According to
DBR, a person familiar with the situation said more than 90% of
Dubai World's creditors, holding around $14 billion of debt, have
agreed to a lock-up deal.

                        Restructuring Deal

According to the Troubled Company Reporter on June 2, 2010, The
Wall Street Journal said Dubai World reached a broad agreement to
pay off its creditors and reduce its $23.5 billion of debt.  Aidan
Birkett, chief restructuring officer of Dubai World, told Zawya
Dow Jones that Dubai World will now seek a final deal with all of
its creditors by the end of June.  Under the deal, creditors will
be repaid in full but the payment period will be extended, while
the government of Dubai would convert debt into equity and help
fund the restructuring.

According to The Journal, the first portion, or tranche, of
$4.4 billion will be paid in five years, with 1% annual interest
in cash but no shortfall government guarantee.  The second tranche
of $10 billion will be paid over eight years, with 1% interest
plus varying payment-in-kind interest and shortfall guarantees.
Lenders will have to choose between three options, depending on
their exposure and on their priorities in regard to the shortfall
guarantee and payment in kind.

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

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

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

                        6-Month Standstill

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

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

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

                         About Dubai World

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


EMMIS COMMS: Going-Private Bid Cancelled; Suit vs. Alden Mulled
---------------------------------------------------------------
Emmis Communications Corporation announced Thursday that its offer
to issue 12% PIK Senior Subordinated Notes due 2017 in exchange
for Emmis' 6.25% Series A Cumulative Convertible Preferred Stock
at a rate of $30.00 principal amount of New Notes for each $50.00
of liquidation preference of Preferred Stock has terminated.

Emmis has been informed that the tender offer by JS Acquisition,
Inc., an Indiana corporation whose equity securities are owned
entirely by Mr. Jeffrey H. Smulyan, the Chairman, Chief Executive
Officer and President of Emmis, and JS Acquisition, LLC, an
Indiana limited liability company that is wholly owned by Mr.
Smulyan, to purchase all of Emmis' outstanding shares of Class A
common stock for $2.40 per share in cash has also terminated.

The exchange offer was conditioned on, among other things,
obtaining, prior to the exchange offer's expiration, the required
vote for certain amendments to the terms of Emmis' 6.25% Series A
Cumulative Convertible Preferred Stock to be voted on at a special
meeting of Emmis shareholders.  The special meeting of Emmis
shareholders initially held at 6:30 p.m., local time, on
Wednesday, September 8, 2010, was adjourned until 8:30 a.m., local
time, on Thursday, September 9, 2010, at One Emmis Plaza, 40
Monument Circle, Indianapolis, Indiana 46204.

At the special meeting of Emmis shareholders held at 8:30 a.m.,
local time, on Thursday, September 9, 2010, the required vote of
Emmis' shareholders was not obtained.  Accordingly, since the
required vote was not obtained prior to the expiration of the
exchange offer and, as a result, the condition was not satisfied,
the exchange offer has terminated.  The tender offer was also
conditioned on obtaining the required vote, and as that condition
was not satisfied prior to the expiration of the tender offer, the
tender offer has also terminated.

As of the expiration of the exchange offer at 5:00 p.m., New York
City time, on Wednesday, September 8, 2010, 418,503 shares of
Preferred Stock had been tendered into and not withdrawn from the
exchange offer.  None of the shares of Preferred Stock tendered
were purchased in the exchange offer, and Emmis has instructed the
depositary for the exchange offer to promptly return all shares of
Preferred Stock previously tendered and not withdrawn to their
respective holders.

Additionally, as of the expiration of the tender offer at 5:00
p.m., New York City time, on Wednesday, September 8, 2010,
19,968,517 Class A shares had been tendered into and not withdrawn
from the tender offer.  None of the Class A shares tendered were
purchased in the tender offer, and JS Acquisition has instructed
the depositary for the tender offer to promptly return all Class A
shares previously tendered and not withdrawn to their respective
holders.

              Alden Finds Revised Terms Unacceptable

Alden Global Capital said Thursday the proposed revised terms of
the transaction to take Emmis private are not acceptable to Alden.
The revised terms were proposed by Emmis and a group of holders of
Emmis Preferred Stock who had objected to the terms agreed between
Alden and JS Acquisition.

Alden had previously agreed with JS Acquisition as to the terms on
which JS Acquisition would purchase all of the outstanding shares
of Emmis Class A Common Stock for $2.40 and its offer to issue 12%
PIK Senior Subordinated Notes due 2017 in exchange for Emmis'
6.25% Series A Cumulative Convertible Preferred Stock at a rate of
$30.00 principal amount of New Notes for each $50.00 liquidation
preference of Preferred Stock, including the terms on which Alden
would fund such transactions.  A group of holders of Preferred
Stock had determined to block the transactions, and had negotiated
the revised terms.  Such holders of Preferred Stock own sufficient
shares of outstanding stock to block the transaction and, as such,
it has become impossible to complete a deal on the terms
originally agreed by the parties.  Although Alden participated in
such discussions to a limited extent, Alden believes that the
terms negotiated between JS Acquisition and such preferred holders
would result in an amount of leverage on the company that would
make the transactions unattractive to Alden, and Alden could not
agree to such terms.

Subsequently, Alden and JS Acquisition engaged in discussions in
an effort to structure a transaction that would be acceptable to
each of the holders of Preferred Stock, Alden and JS Acquisition.
After numerous proposals had been discussed in an effort to reach
an agreement, Alden has concluded that further discussions would
not result in a transaction that would be agreeable to Alden.  As
a result, Alden has determined not to agree to further extensions
of the Tender Offer and Exchange Offer and, when Alden's right to
terminate the Securities Purchase Agreement matures on September
25, 2010, it will exercise such right.

                            Suit Mulled

According to a company statement posted at All Access Music
Group's allaccess.com, Emmis and Mr. Smulyan blamed Alden for
pulling out of the deal.  The statement read, "Last month, EMMIS
COMMUNICATIONS and ALDEN GLOBAL CAPITAL agreed, subject to
completion of definitive documentation, to terms that would allow
a group of preferred shareholders that previously did not support
the exchange offer and amendments to agree to support the
transaction. It should be noted that ALDEN GLOBAL CAPITAL was a
willing and active participant in the negotiations and materially
improved the terms of their proposed investment.

"Shortly after negotiating terms with the preferred shareholders,
and after working closely with EMMIS for the last five months,
ALDEN GLOBAL CAPITAL informed interested parties that they did not
want to provide financing for the transactions and would not
support the re-negotiated terms with the group of preferred
shareholders to which ALDEN had committed.

"Despite several weeks of continuing talks, ALDEN refuses to honor
the commitment they made.

"All parties to the negotiation are stunned and saddened by
ALDEN's decision to not honor the negotiated deal.  EMMIS, JS
ACQUISITION, and JEFF SMULYAN will explore various legal remedies
related to damages caused by ALDEN's actions.

"EMMIS will continue as a public company and appreciates the
overwhelming support of its common shareholders during this
lengthy process. EMMIS has taken important actions this fiscal
year to generate revenue and cash flow growth and looks forward to
working closely with its shareholders and employees to increase
the value of the company as the radio and city/regional magazine
industries continue to see improved operating results."

As reported by the Troubled Company Reporter, a group of holders
of Preferred Stock -- which includes Double Diamond Partners LLC,
Zazove Aggressive Growth Fund, L.P., R2 Investments, LDC, DJD
Group LLC, Third Point LLC, the Radoff Family Foundation, Bradley
L. Radoff, LKCM Private Discipline Master Fund, SPC and Kevin A.
Fight -- on July 9, 2010, entered into a written lock-up agreement
pursuant to which, among other things, each of the Locked-Up
Holders agreed to: (1) vote or cause to be voted any and all of
its shares of Preferred Stock against the Proposed Amendments; (2)
restrict dispositions of Preferred Stock; (3) not enter into any
agreement, arrangement or understanding with any person for the
purpose of holding, voting or disposing of any securities of the
Company, or derivative instruments with respect to securities of
the Company; (4) consult with each other prior to making any
public announcement concerning the Company; and (5) share certain
expenses incurred in connection with their investment in the
Preferred Stock, in each case during the term of the Lock-Up
Agreement.  The Lock-Up Holders collectively own 1,074,915 shares
of Preferred Stock, representing approximately 38.3% of the issued
and outstanding shares of Preferred Stock.

Since the announcement of the Lock-Up Agreement, representatives
of JS Acquisition, the Company and Alden Global, which hold Class
A shares of Emmis, have been in discussions with representatives
of the Locked-Up Holders in an effort to obtain the approval of
the Locked-Up Holders with respect to the Proposed Amendments.
The Locked-Up Holders requested various changes to the terms of
the Transactions.

                           About Emmis

Headquartered in Indianapolis, Indiana, Emmis Communications
Corporation -- http://www.emmis.com/-- owns and operates radio
stations and magazine publications in the U.S. and in Europe.

At February 28, 2010, the Company had $498,168,000 in total
assets; $487,246,000 in total liabilities and $140,459,000 in
Series A Cumulative Convertible Preferred Stock; and a
shareholders' deficit of $178,959,000.  At February 28, 2010, the
Company had non-controlling interests of $49,422,000 and total
deficit of $129,537,000.

As of April 15, 2010, the Company had not paid the Preferred Stock
dividend for six consecutive quarterly periods.

                           *     *     *

In April 2009, Moody's cut its corporate family rating on the
Company to 'Caa2'.

In May 2009, S&P raised its corporate credit rating on the Company
to 'CCC+'.  In June, S&P withdrew the 'CCC+' Corp. Credit Rating
at the Company's request.


EQUIPMENT SOURCE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Equipment Source and Supply, LLC
        1194 US Highway 82 East
        Georgetown, GA 39854

Bankruptcy Case No.: 10-11733

Chapter 11 Petition Date: September 7, 2010

Court: U.S. Bankruptcy Court
       Middle District of Alabama (Dothan)

Judge: William R. Sawyer

Debtor's Counsel: Collier H. Espy, Jr., Esq.
                  ESPY, METCALF & ESPY, P.C.
                  P.O. Drawer 6504
                  326 North Oates Street
                  Dothan, AL 36302-6504
                  Tel: (334) 793-6288
                  E-mail: kc@espymetcalf.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/almb10-11733.pdf

The petition was signed by Robert L. Nolan, member.


ETERNAL ENERGY: Earns $4 Million in June 30 Quarter
---------------------------------------------------
Eternal Energy Corp. filed its quarterly report on Form 10-Q,
reporting net income of $4.04 million on $5.25 million of revenue
for the three months ended June 30, 2010, compared with a net loss
of $336,012 on $4,533 of revenue for the same period of 2009.

The Company recognized aggregate gains from the sale of certain
oil and gas assets totaling $5.24 million for the three-month
period ended June 30, 2010.

As of June 30, 2010, the Company has working capital totaling
$4.04 million available to it to fund operations and potential
drilling activities.  The Company has an accumulated deficit of
$4.04 million as of June 30, 2010.

The Company's balance sheet at June 30, 2010, showed $5.53 million
in total assets, $113,438 in total liabilities, and stockholders'
equity of $5.42 million.

Kelly & Company, in Costa Mesa, Calif., expressed substantial
doubt about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted that
the Company has incurred net losses for the years ended
December 31, 2009, and 2008, of $4.92 million and $907,303,
respectively and has an accumulated deficit of $7.75 million at
December 31, 2009, and must rely on the sale of its oil and gas
prospects, capital funding and borrowing until it is able to
successfully implement its business plan and generate sufficient
revenues in the future to sustain its ongoing operations.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6afb

                       About Eternal Energy

Littleton, Colo.-based Eternal Energy Corp. (OTC BB: EERG) was
incorporated in the state of Nevada in March 2003.  The Company
engages in the acquisition, exploration, development and producing
of oil and gas properties.  At June 30, 2010, the Company has
entered into participation agreements related to oil and gas
exploration projects in the Pebble Beach and Spyglass Prospects,
located in Divide County, North Dakota, and Sheridan County,
Montana and the Hardy Property, located in southeastern
Saskatchewan, Canada.  In addition, the Company owns certain
overriding royalty interests in oil and gas leases located in San
Juan County, Utah and San Miguel County, Colorado.


FANNIE MAE: Bankers Urge Government to Pull Life Support
--------------------------------------------------------
Corbett B. Daly at Reuters reports that the Mortgage Bankers
Association is urging the federal government to take mortgage
finance giants Fannie Mae and Freddie Mac off life support sooner
rather than later.

According to Reuters, the bankers said Fannie Mae and Freddie Mac
should move beyond the "conservatorship" that started two years
ago and be placed "receivership."

"Fannie Mae and Freddie Mac have already moved well beyond the
points where any other financial institution would have been put
into receivership," MBA Chief Executive John Courson and MBA
Chairman-elect Michael Berman wrote in a seven-page letter to the
Federal Housing Finance Agency.

As the financial crisis unfolded in 2008, then-Treasury Secretary
Henry Paulson effectively took control of the firms, although he
stopped short of full nationalization by placing them in a
"conservatorship" to keep them off the federal balance sheet.

The government controls 79.9% of Fannie Mae and Freddie Mac, just
shy of the 80% threshold for placing them on the federal books.
Conservatorship is intended for firms that could be restored to
health, while receivership is the end-of-the-line liquidation
phase.

                         About Freddie Mac

Based in McLean, Virginia, Freddie Mac (NYSE: FRE)
-- http://www.FreddieMac.com/-- was established by Congress in
1970 to provide liquidity, stability and affordability to the
nation's residential mortgage markets.  Freddie Mac supports
communities across the nation by providing mortgage capital to
lenders.  Over the years, Freddie Mac has made home possible for
one in six homebuyers and more than five million renters.

Freddie Mac is under conservatorship and is dependent upon the
continued support of Treasury and FHFA to continue operating its
business.  The Company received $6.1 billion and $30.8 billion in
June 2009 and March 2009, respectively, pursuant to draw requests
that FHFA submitted to Treasury on the Company's behalf to address
the deficits in the Company's net worth as of March 31, 2009, and
December 31, 2008, respectively.  As a result of funding of the
draw requests, the aggregate liquidation preference on the senior
preferred stock owned by Treasury increased from $14.8 billion as
of December 31, 2008, to $51.7 billion on December 31, 2009.

                         About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

Fannie Mae has been under conservatorship, with the Federal
Housing Finance Agency acting as conservator, since September 6,
2008.  As conservator, FHFA succeeded to all rights, titles,
powers and privileges of the company, and of any shareholder,
officer or director of the company with respect to the company and
its assets.  The conservator has since delegated specified
authorities to Fannie Mae's Board of Directors and has delegated
to management the authority to conduct day-to-day operations.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9% of its common
stock, and Treasury has made a commitment under a senior preferred
stock purchase agreement to provide Fannie with funds under
specified conditions to maintain a positive net worth.


EQUIPMENT SOURCE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Equipment Source and Supply, LLC
        1194 US Highway 82 East
        Georgetown, GA 39854

Bankruptcy Case No.: 10-11733

Chapter 11 Petition Date: September 7, 2010

Court: U.S. Bankruptcy Court
       Middle District of Alabama (Dothan)

Judge: William R. Sawyer

Debtor's Counsel: Collier H. Espy, Jr., Esq.
                  ESPY, METCALF & ESPY, P.C.
                  P.O. Drawer 6504
                  326 North Oates Street
                  Dothan, AL 36302-6504
                  Tel: (334) 793-6288
                  E-mail: kc@espymetcalf.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/almb10-11733.pdf

The petition was signed by Robert L. Nolan, member.


FRANK GRAY: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Joint Debtors: Frank Lewis Gray
               Amy Beth Gray
               226 West Cherry Avenue
               Monrovia, CA 91016

Bankruptcy Case No.: 10-47950

Chapter 11 Petition Date: September 7, 2010

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

Judge: Thomas B. Donovan

Debtors' Counsel: Stephen W. Johnson, Esq.
                  LAW OFFICE OF STEPHEN W. JOHNSON
                  23046 Avenida de la Carlota, 6th Floor
                  Laguna Hills, CA 92653
                  Tel: (949) 813-0636
                  Fax: (949) 768-5001

Scheduled Assets: $384,400

Scheduled Debts: $1,037,955

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-47950.pdf


FREDDIE MAC: Bankers Urge Government to Pull Life Support
---------------------------------------------------------
Corbett B. Daly at Reuters reports that the Mortgage Bankers
Association is urging the federal government to take mortgage
finance giants Fannie Mae and Freddie Mac off life support sooner
rather than later.

According to Reuters, the bankers said Fannie Mae and Freddie Mac
should move beyond the "conservatorship" that started two years
ago and be placed "receivership."

"Fannie Mae and Freddie Mac have already moved well beyond the
points where any other financial institution would have been put
into receivership," MBA Chief Executive John Courson and MBA
Chairman-elect Michael Berman wrote in a seven-page letter to the
Federal Housing Finance Agency.

As the financial crisis unfolded in 2008, then-Treasury Secretary
Henry Paulson effectively took control of the firms, although he
stopped short of full nationalization by placing them in a
"conservatorship" to keep them off the federal balance sheet.

The government controls 79.9% of Fannie Mae and Freddie Mac, just
shy of the 80% threshold for placing them on the federal books.
Conservatorship is intended for firms that could be restored to
health, while receivership is the end-of-the-line liquidation
phase.

                         About Freddie Mac

Based in McLean, Virginia, Freddie Mac (NYSE: FRE)
-- http://www.FreddieMac.com/-- was established by Congress in
1970 to provide liquidity, stability and affordability to the
nation's residential mortgage markets.  Freddie Mac supports
communities across the nation by providing mortgage capital to
lenders.  Over the years, Freddie Mac has made home possible for
one in six homebuyers and more than five million renters.

Freddie Mac is under conservatorship and is dependent upon the
continued support of Treasury and FHFA to continue operating its
business.  The Company received $6.1 billion and $30.8 billion in
June 2009 and March 2009, respectively, pursuant to draw requests
that FHFA submitted to Treasury on the Company's behalf to address
the deficits in the Company's net worth as of March 31, 2009, and
December 31, 2008, respectively.  As a result of funding of the
draw requests, the aggregate liquidation preference on the senior
preferred stock owned by Treasury increased from $14.8 billion as
of December 31, 2008, to $51.7 billion on December 31, 2009.

                         About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

Fannie Mae has been under conservatorship, with the Federal
Housing Finance Agency acting as conservator, since September 6,
2008.  As conservator, FHFA succeeded to all rights, titles,
powers and privileges of the company, and of any shareholder,
officer or director of the company with respect to the company and
its assets.  The conservator has since delegated specified
authorities to Fannie Mae's Board of Directors and has delegated
to management the authority to conduct day-to-day operations.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9% of its common
stock, and Treasury has made a commitment under a senior preferred
stock purchase agreement to provide Fannie with funds under
specified conditions to maintain a positive net worth.


GENERAL GROWTH: Weil Gotshal Bills $21.3-Mil. for Feb.-June Work
----------------------------------------------------------------
Professionals employed and retained in General Growth's Chapter 11
cases filed applications for allowance of fees and reimbursement
of expenses, pursuant to Section 331 of the Bankruptcy Code for
these periods:

Firms                      Period            Fees     Expenses
-----                      ------            ----     --------
Weil, Gotshal & Manges   02/01/10-    $21,265,714     $435,720
LLP                      06/30/10

Akin Gump Strauss        02/01/10-     $3,252,654     $228,469
Hauer & Feld LLP         06/30/10

AlixPartners, LLP        02/01/10-     $6,307,810     $313,032
                         06/30/10

Kirkland & Ellis LLP     02/01/10-     $6,054,211     $170,053
                         06/30/10

Deloitte & Touche LLP    02/01/10-     $3,357,057      $15,550
                         06/30/10

Saul Ewing LLP           02/01/10-     $2,075,625      $51,134
                         06/30/10

Miller Buckfire & Co.,   02/01/10-     $1,400,000      $57,441
LLC                      06/30/10

Houlihan Lokey Howard    02/01/10-     $1,100,000      $57,529
& Zukin Capital, Inc.    06/30/10

FTI Consulting, Inc.     02/01/10-       $525,708       $3,001
                         06/30/10

Deloitte Tax LLP         02/01/10-       $457,806           $0
                         06/30/10

Cantor Fitzgerald & Co.  03/24/10-       $390,967       $5,166
                         06/30/10

Ernst & Young LLP        02/01/10-       $289,944           $0
                         06/30/10

Hughes Hubbard & Reed    01/22/10-       $210,959       $2,705
LLP                      06/30/10

Cantor Fitzgerald & Co.  07/01/10-       $120,000       $3,982
                         07/31/10

Halperin Battaglia       02/01/10-       $118,850         $971
Raicht, LLP              06/30/10

KPMG LLP                 04/16/09-        $65,546           $0
                         06/30/10

The Weitzman Group, Inc. 07/01/10-         $5,215           $0
                         07/31/10

Weitzman's July fee application also serves as a supplement for
fees and expenses incurred from June 8 to 30, 2010.

Weil Gotshal and Kirkland serve as counsel to the Debtors.
AlixPartners is the Debtors' restructuring advisor.  Miller
Buckfire acts as the Debtors' financial advisor.  Deloitte Tax and
E&Y provide tax services to the Debtors while KMPG performs tax
compliance services for the Debtors.  Deloitte & Touche serves as
the Debtors' independent auditor.

Akin Gump is counsel to the Official Committee of Unsecured
Creditors and Halperin Battaglia acts as the Creditors'
Committee's conflicts counsel.  Houlihan Lokey and FTI Consulting
serve as the Creditors' Committee's financial advisors.

Saul Ewing acts as counsel to the Official Committee of Equity
Security Holders.  Cantor Fitzgerald is the Equity' Committee's
financial advisor.  Weitzman serves as real estate consultant to
the Equity Committee.

Hughes Hubbard is the Fee Committee's counsel.

                       About General Growth

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

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

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


GENERAL MOTORS: Will Take Aggressive Stance Against Competition
---------------------------------------------------------------
Sharon Terlep at The Wall Street Journal reports that New General
Motors Co. Chief Executive Dan Akerson told employees Wednesday
that GM will take an "attacker's stance" against the competition
now that it has the resources to do so.

According to the Journal, Mr. Akerson, in his first broadcast to
employees since he succeeded Edward E. Whitacre Jr. on Sept. 1,
said GM shouldn't be in the position of playing defense against
rivals.  GM will give no ground in leadership, financial
performance and the quality of its cars and trucks, Mr. Akerson
said, according to an employee who saw the address.  He added that
he expects GM's Cadillac and Buick brands to steal customers from
luxury stalwarts such as BMW AG.

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company -- http://www.gm.com/-- is one of the world's largest
automakers.  GM employs 205,000 people in every major region of
the world and does business in some 157 countries.  GM and its
strategic partners produce cars and trucks in 31 countries, and
sell and service these vehicles through the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Jiefang,
Opel, Vauxhall and Wuling.  GM's largest national market is China,
followed by the United States, Brazil, Germany, the United
Kingdom, Canada, and Italy.  GM's OnStar subsidiary is the
industry leader in vehicle safety, security and information
services.

General Motors Co. is 60.8% owned by the U.S. Government.  It was
formed to acquire the operations of General Motors Corporation
through a sale under 11 U.S.C. Sec. 363 following Old GM's
bankruptcy filing.  The deal was closed on July 10, 2009, and Old
GM changed its name to Motors Liquidation Co.  Old GM remains
subject to a pending Chapter 11 reorganization case before the
U.S. Bankruptcy Court for the Southern District of New York.

At June 30, 2010, GM had $131.899 billion in total assets,
$101.00 billion in total liabilities, $6.998 billion in preferred
stock, and $23.901 billion in stockholders' equity.

                     About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin, Esq.,
and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges LLP,
assist the Debtors in their restructuring efforts.  Al Koch at AP
Services, LLC, an affiliate of AlixPartners, LLP, serves as the
Chief Executive Officer for Motors Liquidation Company.  GM is
also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP is
providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Unsecured Creditors
Holding Asbestos-Related Claims.  Lawyers at Kramer Levin Naftalis
& Frankel LLP serve as bankruptcy counsel to the Creditors
Committee.  Attorneys at Butzel Long serve as counsel regarding
supplier contract matters.  FTI Consulting, Inc., serves as
financial advisors to the Creditors Committee.  Elihu Inselbuch,
Esq., at Caplin & Drysdale, Chartered, represents the Asbestos
Committee.  Legal Analysis Systems, Inc., serves as asbestos
valuation analyst.

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


GREEN PLANET: Posts $2 Million Net Loss in June 30 Quarter
----------------------------------------------------------
Green Planet Group, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $2.0 million on $10.0 million of revenue
for the three months ended June 30, 2010, compared with a net loss
of $4.1 million on $16.7 million of revenue for the three months
ended June 30, 2009.

The Company's balance sheet at June 30, 2010, showed $13.5 million
in total assets, $35.4 million in total liabilities, and a
stockholders' deficit of $21.9 million.

As reported in the Troubled Company Reporter on July 20, 2010,
Semple, Marchal & Cooper, LLP, in Phoenix, Ariz., expressed
substantial doubt about the Company's ability to continue as a
going concern, following its results for the fiscal year ended
March 31, 2010.  The independent auditors noted that the Company
has significant operating losses and negative working capital.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6af6

                        About Green Planet

Scottsdale, Ariz.-based Green Planet Group, Inc. (OTC BB: GNPG)
-- http://www.greenplanetgroup.com/-- is engaged in the
research, development, manufacturing and distribution of a variety
of products that improve overall energy efficiency with a specific
concentration on petroleum based energy sources.  The Company
currently has four wholly owned operating subsidiaries, EMTA Corp,
XenTx Lubricants, Inc., White Sands, L.L.C., and Lumea, Inc.


GREGORY MALLEY: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Joint Debtors: Gregory Thomas Malley
               Vanisri Malley
               24303 Elise Court
               Los Altos, CA 94024

Bankruptcy Case No.: 10-59336

Chapter 11 Petition Date: September 7, 2010

Court: U.S. Bankruptcy Court
       Northern District of California (San Jose)

Judge: Roger L. Efremsky

Debtors' Counsel: Stanley A. Zlotoff, Esq.
                  LAW OFFICES OF STANLEY A. ZLOTOFF
                  300 S. 1st Street, #215
                  San Jose, CA 95113
                  Tel: (408) 287-1313
                  E-mail: zlotofflaw@gmail.com

Scheduled Assets: $2,461,030

Scheduled Debts: $3,809,666

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-59336.pdf

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Nobel Group, Inc.                     10-55902            06/05/10


HARRISBURG, PA: Dauphin County Plans to Refile Suit
---------------------------------------------------
Dow Jones' DBR Small Cap reports that Dauphin County, Pa., plans
to refile a lawsuit against its biggest city, state capital
Harrisburg, to recoup skipped debt payments on a costly
incinerator project that has plunged the city into a fiscal
crisis.  The decision reflects the political ill will that has
hampered Harrisburg's efforts to sort out its fiscal woes, which
include a high poverty rate as well as the trash-to-energy
incinerator project.  DBR relates Dauphin County spokeswoman Amy
Richards said Wednesday that county officials will refile the
lawsuit within a week or two.  Centre County Senior Judge Charles
C. Brown Jr. last month dismissed the original suit without
prejudice on technical grounds.  Since May 2009, Dauphin County
has made $3.41 million in incinerator debt payments.  The county
is third in line to guarantee payment on most of the $288 million
debt, behind the city and a regional body called the Harrisburg
Authority that owns the incinerator.

                       About Harrisburg, PA

The city of Harrisburg is coping with debt related to a failed
revamp of an incinerator.  The outstanding principal on the
incinerator debt is $288 million.  Total principal and interest on
this debt would amount to approximately $458 million.  Debt
service payments on the total incinerator debt are $20 million per
year.  Of this total, Dauphin County, Pennsylvania, is responsible
for roughly $10 million and Harrisburg is responsible for the
other $10 million.   The city is guarantor on 100% of the
$288 million incinerator debt.

As reported by the Troubled Company Reporter on August 19, 2010,
Harrisburg hired Scott Balice Strategies to help plot a financial
recovery plan.

As reported by the TCR on September 7, 2010, Dow Jones' DBR Small
Cap said elected officials in Harrisburg have met to discuss
hiring a bankruptcy adviser and handing over control of their
troubled municipal authority to a receiver as the city's fiscal
problems mount.  As reported by the TCR on September 1, Harrisburg
will skip $3.29 million in debt-service payments on general
obligation debt from 1997 due Sept. 15.  Ambac Assurance Corp.,
which insures the GO bonds, will meet payments to investors.


HARRISBURG, PA: Governor Working to Avoid City's Bankruptcy
-----------------------------------------------------------
Dunstan McNichol at Bloomberg News reports that Pennsylvania
Governor Ed Rendell said he opposes a bankruptcy filing by the
state's capital city, Harrisburg, which has told bondholders it
cannot make $3.3 million in general-obligation bond payments due
Sept. 15.

According to the report, Governor Rendell, 66, a Democrat whose
term ends in January, said his administration is working with the
city to pay for a financial adviser.  Pennsylvania, the sixth
most-populous U.S. state, has no authority to make the debt-
service payment, which is scheduled to be covered by its insurer,
Ambac Financial Group, on Harrisburg's behalf, Governor Rendell
said in an interview with Margaret Brennan on Bloomberg
Television's "InBusiness."

"They have a chance to dig themselves out of this without going
into bankruptcy, and that's something I'd like to see," Governor
Rendell said September 9.  "Harrisburg has some assets they can
sell."

According to the report, Harrisburg Mayor Linda Thompson, who took
office in January, on September 8 proposed closing one of the
city's four firehouses, furloughing senior staff members, raising
parking fees and negotiating pay cuts with public employee unions
to address a deficit in this year's $118 million city budget.  Tax
revenue is coming in about $9 million below projections, a June 30
report from Thompson shows.

                       About Harrisburg, PA

The city of Harrisburg is coping with debt related to a failed
revamp of an incinerator.  The outstanding principal on the
Incinerator debt is $288 million.  Total principal and interest on
this debt would amount to approximately $458 million.  Debt
service payments on the total incinerator debt are $20 million per
year.  Of this total, Dauphin County, Pennsylvania, is responsible
for roughly $10 million and Harrisburg is responsible for the
other $10 million.   The city is guarantor on 100% of the
$288 million Incinerator debt.

As reported by the Troubled Company Reporter on August 19, 2010,
Harrisburg hired Scott Balice Strategies to help plot a financial
recovery plan.

As reported by the TCR on September 7, 2010, Dow Jones' DBR Small
Cap said elected officials in Harrisburg met to discuss hiring a
bankruptcy adviser and handing over control of their troubled
municipal authority to a receiver as the city's fiscal problems
mount.  As reported by the TCR on September 1, Harrisburg will
skip $3.29 million in debt-service payments on general obligation
debt from 1997 due Sept. 15.  Ambac Assurance Corp., which insures
the GO bonds, will meet payments to investors.


INNKEEPERS USA: Opposes Preferreds' Request for Examiner
--------------------------------------------------------
An ad hoc committee of preferred shareholders is asking the U.S.
Bankruptcy Court to direct the appointment of an examiner in
Innkeepers USA Trust's bankruptcy cases pursuant to Sections
1104(c)(1) and (2) of the Bankruptcy Code.

The Debtors argue that the Court should deny the request because
nothing in the Bankruptcy Code mandates appointment of an
examiner, especially here when the debt threshold set forth in the
statute is not satisfied and the request is brought by an out of
the money constituency, who seeks to examine primarily plan
confirmation issues that will already be subject to close
investigation and scrutiny as part of that process.

Taken in its proper context, the request constitutes nothing more
than (i) a transparent attempt by a collection of equity holders
to obtain value from the Debtors' creditors, who have priority as
to all of the value in these estates, and (ii) a back-up plan to
shift the litigation expenses of a well-represented and
sophisticated group of interest holders to the bankruptcy estates
in the event that the United States Trustee denies the Ad Hoc
Committee of Preferred Shareholders's request to appoint an
official equity committee, the Debtors assert.

Alternatively, if the Court is inclined to grant the request, the
role of the examiner and the scope of the examination should be
narrowly defined to avoid excessive cost and delay, and the
examiner's fees and expenses should be capped to preserve the
estates' assets, James H.M. Sprayregen, P.C., Esq., at Kirkland &
Ellis LLP, in New York, asserts.  He adds that the Ad Hoc
Committee may request an examiner at a later date, including after
completion of the confirmation process if that process does not
result in confirmation, if the circumstances so warrant.

Nathan J. Cook, the Debtors' chief financial officer, filed a
declaration supporting the objection.

Tracy Hope Davis, the United States Trustee for Region 2, says
that if the Court finds that the appointment of an examiner is in
the interests of creditors, equity security holders and other
interest of the estate, the appointment is required under Section
1104(c)(1) of the Bankruptcy Code and decisional law.
Alternatively, she avers, Section 1104(c)(2) requires the
mandatory appointment of an examiner, upon the request of a party-
in-interest or the U.S. Trustee, provided a debtor's unsecured
debts, other than debts for goods, services, or taxes, or owing to
an insider, exceeds $5 million.

The Ad Hoc Committee finds that it is "reasonable to assume" that
$5 million threshold is met, Ms. Davis notes.  She asserts that
based upon the record and absent additional information, however,
it is unclear whether the Debtors' fixed, liquidated unsecured
debts exceed $5 million.

Without additional evidentiary information regarding the issue, a
determination regarding whether the appointment of an examiner is
appropriate under Sections 1104(c)(1) and (2) is premature, Ms.
Davis tells Judge Chapman.

Midland Loan Services, Inc., tells Judge Chapman that it does not
oppose the appointment of an examiner under Section 1104(c) of the
Bankruptcy Code.  Midland notes that the statute appears to make
an appointment mandatory since the liquidated unsecured claims
against some of the Debtors appear to exceed $5 million.

In considering the appointment and the scope of the assignment for
any examiner, the Court should also consider implementing a budget
for any professional fees that an examiner might incur, Midland
asserts.  Midland adds that a budget would manage the cost of the
process appropriately to ensure that the investigation did not get
exceed its potential benefit to the estates.  Wells Fargo Bank,
N.A., joins in Midland's objection.

The Official Committee of Unsecured Creditors argues that the Ad
Hoc Committee fails to satisfy either of the statutory predicates
in Section 1104(c), and is not entitled to the requested relief.
The Creditors' Committee asserts that the Equity Holders do not
establish by clear and convincing evidence that the Debtors'
fixed, liquidated, unsecured debts exceed $5,000,000.

Rather than bringing "sunlight and transparency" to these cases,
the appointment of an examiner with the broad investigative
authority proposed by the Ad Hoc Committee would do nothing more
than duplicate the efforts already being undertaken by parties-in-
interest at the significant expense of the estates and their
creditors, Lehman ALI Inc. points out.

Apollo Investment Corporation contends that the request is an
objection to confirmation of a Chapter 11 plan for the Debtors
that has not yet been filed.  Apollo insists that the request's
focus is on (i) valuation issues, (ii) whether the Plan is an end-
run around new value principles and (iii) other confirmation
concerns.

                   Ad Hoc Committee Replies

The Ad Hoc Committee filed (i) a request to seal its response to
the objections, and (ii) a sealed and a partially redacted
response to the objections.

                   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 estimated assets and debts of more
than $1 billion as of the bankruptcy filing.

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: Files Schedules of Assets and Liabilities
---------------------------------------------------------

A.    Real Property                                            -

B.    Personal Property
B.1   Cash on Hand                                             -
B.2   Bank Accounts                                            -
B.3   Security Deposits                                        -
B.4   Household goods                                          -
B.5   Book, artwork and collectibles                           -
B.6   Wearing apparel                                          -
B.7   Furs and jewelry                                         -
B.8   Firearms and other equipment                             -
B.9   Insurance Policies                                       -
B.10  Annuities                                                -
B.11  Interests in an education IRA                            -
B.12  Interests in pension plans 401(k) Plan                   -
B.13  Stock and Interests                                UNKNOWN
B.14  Interests in partnerships/joint ventures           UNKNOWN
B.15  Government and corporate bonds                           -
B.16  Accounts Receivable                                      -
B.17  Alimony                                                  -
B.18  Other Liquidated Debts Owing Debtor                      -
B.19  Equitable or future interests                            -
B.20  Interests in estate death benefit plan                   -
B.21  Other Contingent and Unliquidated Claims                 -
B.22  Patents, copyrights, and others                          -
B.23  Licenses, franchises & other intangibles                 -
B.24  Customer lists or other compilations                     -
B.25  Vehicles                                                 -
B.26  Boats, motors and accessories                            -
B.27  Aircraft and accessories                                 -
B.28  Office Equipment, furnishings & supplies                 -
B.29  Equipment and Supplies for Business                      -
B.30  Inventory                                                -
B.31  Animals                                                  -
B.32  Crops                                                    -
B.33  Farming equipment and implements                         -
B.34  Farm supplies, chemicals, and feed                       -
B.35  Other Personal Property
        Prepaid expenses, corporate office                 $598

     TOTAL SCHEDULED ASSETS                                $598
     ==========================================================

C.  Property Claimed                                           -
D.  Creditors Holding Secured Claims                     UNKNOWN
E.  Creditors Holding Unsecured Priority Claims          UNKNOWN
F.  Creditors Holding Unsecured Non-priority Claims      UNKNOWN

     TOTAL SCHEDULED LIABILITIES                              -
     ==========================================================

                   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 estimated assets and debts of more
than $1 billion as of the bankruptcy filing.

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: Files Statement of Financial Affairs
----------------------------------------------------
Nathan J. Cook, Innkeepers USA Trust's interim chief financial
officer, discloses that the Debtor made payments totaling
$8,236,943 within one year immediately preceding the Petition Date
for the benefit of creditors, who are insiders:

Name/Firm                    Salary         Bonus     Expenses
---------                    ------         -----     --------
Beilinson, Marc A.         $934,615    $4,000,000     $244,719
Walker, Timothy J.          292,398       800,000        2,079
Murphy, Mark                292,398       675,000        2,246
Craven, Dennis M.           292,398       175,000       22,766
Ruisi, Lawrence             156,250                      1,594
Kentoff, Eric L.             97,374        45,000            -
Kleisner, Fred               93,750             -
Zuroff, Bernard L.           18,750             -        4,678
Apollo Investment Corp.           -             -       85,745
Korval, Justin                    -             -          179
                           ---------     ---------    ---------
                          $2,177,934    $5,695,000     $364,008

Apollo is Innkeepers' beneficial owner.  Mr. Beilinson is the
Debtors' chief restructuring officer, Mr. Walker is the chief
executive officer, Mr. Craven is the chief financial officer, Mr.
Murphy is the general counsel and secretary, and Mr. Kentoff is
the assistant secretary.  Messrs. Kleisner, Korval, Ruisi and
Zuroff are trustees.

Mr. Cook also discloses that Innkeepers is a party to several
lawsuits and administrative proceedings within one year
immediately preceding the Petition Date:

  -- KR Commercial Interiors v. Innkeepers USA Trust; Grand Prix
     Belmont LLC; Grand Prix El Segundo LLC (consolidated w/ El
     Segundo case) Case No.: YC058339;

  -- KR Commercial Interiors v. Innkeepers USA Trust; Grand Prix
     Belmont LLC; Grand Prix El Segundo LLC (consolidated w/ El
     Segundo case) Case No.: CIV477512;

  -- Magnus Construction v. Innkeepers USA Trust; KPA HI Ontario
     LLC Case No.: n/a (None Stated. Only Draft Complaint
     received.);

  -- Simplex Grinnell v. Innkeepers USA Trust; Innkeepers USA
     LP; Grand Prix Chicago LLC; Grand Prix Fixed Lessee LLC
     Case No.: 09CH27009; and

  -- Simplex Grinnell v. Innkeepers USA Trust; Innkeepers USA
     LP; Grand Prix Chicago LLC; Grand Prix Fixed Lessee LLC
     Case No.: 09CH27009.

Within one year immediately preceding the Petition Date,
Innkeepers paid these firms for services relating to debt
counseling and bankruptcy:

Firm Name                        Date          Amount
---------                        ----          ------
AP Services, LLC              06/11/2010     $250,000
                               07/14/2010      262,848
Carl Marks Advisory           06/16/2010       75,000
Group LLC                     07/16/2010       25,021

CBRE-Appraisals               07/13/2010      375,000

Ernst & Young                 06/04/2010      134,421
                               06/11/2010       80,393

FTI                           06/14/2010      316,209

Haynes and Boone, LLP         05/21/2010        1,650
                               06/18/2010      176,173

Kirkland & Ellis LLP          03/31/2010    1,000,000
                               04/16/2010      486,397
                               05/06/2010      400,000
                               05/26/2010      186,485
                               06/18/2010      477,968
                               07/02/2010      670,957
                               07/12/2010      299,972
                               07/14/2010      366,835
                               07/14/2010       95,588
Merrill Communications LLC    07/02/2010       58,545

Moelis & Company LLC          05/07/2010      433,573
                               06/04/2010      211,729
                               06/28/2010      206,067

Omni Management Group LLC     06/16/2010       50,000
                               07/15/2010       25,000

Skadden, Arps, Slate,         09/03/2009       69,689
Meagher & Flom LLP            10/02/2009          499
                               05/21/2010       24,860
                               05/27/2010      143,169
                               06/16/2010      100,000
                               07/09/2010        3,954

Innkeepers further reveals Grand Prix Holdings LLC owns 100% of
the company's interest.

                   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 estimated assets and debts of more
than $1 billion as of the bankruptcy filing.

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).


INT'L COMMERCIAL: Swings to $317,300 Net Loss in Q2 2010
--------------------------------------------------------
International Commercial Television Inc. filed its quarterly
report on Form 10-Q, reporting a net loss of $317,301 on $896,453
of revenue for the three months ended June 30, 2010, compared with
net income of $92,996 on $1.20 million of revenue for the same
period last year.

As of June 30, 2010, the Company had a negative working capital of
$724,714, compared to a negative working capital of $339,455 at
December 31, 2009, and an accumulated deficit of $5.81 million as
of June 30, 2010.

The Company's balance sheet at June 30, 2010, showed $955,380 in
total assets, $1.64 million in total liabilities, and a
shareholders' deficit of $683,204.

As reported in the Troubled Company Reporter on June 25, 2010,
Amper, Politziner & Mattia LLP, in Edison, N.J., expressed
substantial doubt about the Company's ability to continue as a
going concern, following its 2009 results.  The independent
auditors noted of the Company's recurring losses from operations
and negative cash flows.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6af3

                  About International Commercial

Bainbridge Island, Wash.-based International Commercial Television
Inc. was organized under the laws of the State of Nevada on
June 25, 1998.  The Company sells various consumer products.  The
products are primarily marketed and sold throughout the United
States and internationally via infomercials.


IRI GOLF: Landscapes Could Not Acquire Golf Course
--------------------------------------------------
Dallas Morning News, citing a press release of the City of
Rockwall, reports that Landscapes Unlimited will not be able to
purchase The Shores Golf Course owned by IRI Golf Group due to
financing and bonding company limitations.

Landscapes said it had reached a preliminary agreement with IRI
and Hillcrest Bank on terms for purchasing the court after IRI had
filed for Chapter 11 bankruptcy, according to Dallas Morning.

Hillcrest Bank asked a bankruptcy court to lift the stay that has
prohibited its foreclosure on the property owned by IRI Golf.  The
City does not know the timeline for the court's action on the
request or a timeline for reopening of the course.


JAPEH YOUSSEFI: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Japeh Youssefi
        13639 E. Desert Trail
        Scottsdale, AZ 85259

Bankruptcy Case No.: 10-26948

Chapter 11 Petition Date: August 25, 2010

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

Judge: Sarah Sharer Curley

Debtor's Counsel: Cindy Lee Greene, Esq.
                  CARMICHAEL & POWELL, P.C.
                  7301 N. 16th Street, Suite 103
                  Phoenix, AZ 85020
                  Tel: (602) 861-0777
                  Fax: (602) 870-0296
                  E-mail: c.greene@cplawfirm.com

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

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

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


JAVIER GUEL: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Javier Luis Guel
        1669 Beach Boulevard
        Pacifica, CA 94044-2237

Bankruptcy Case No.: 10-33469

Chapter 11 Petition Date: September 6, 2010

Court: U.S. Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Thomas E. Carlson

Debtor's Counsel: William F. McLaughlin, Esq.
                  LAW OFFICES OF WILLIAM F. MCLAUGHLIN
                  1305 Franklin Street, #301
                  Oakland, CA 94612
                  Tel: (510)839-4456
                  E-mail: mcl551@aol.com

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

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

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


JNL FUNDING: Hearing on Cash Use Continued Until October 27
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of New York has
continued until October 27, 2010, at 2:00 p.m, the hearing on JNL
Funding Corp.'s further access to the cash securing obligation to
Textron Financial Corporation, as lender and administrative agent,
and TD Banknorth, N.A.

As reported in the Troubled Company Reporter on June 9, the Debtor
owes the lenders not less than $31,168,105 secured by a valid,
perfected, and unavoidable first priority security interest in the
collateral.

The Debtor would use the cash collateral to fund its operations
postpetition.

                         About JNL Funding

JNL Funding Corp., based in Farmingdale, New York, was formed to
originate and invest primarily in real estate related first
priority mortgage loans.  JNL is a speciality finance company
which provides short-term (generally one to two years) financing
for borrowers with specialized expertise in the acquisition,
rehabilitation and the resale of vacant one-to-four family
residential properties in New York City and Long Island, New York.
The company also provides construction financing for these
properties and other special situations.

JNL Funding filed for Chapter 11 bankruptcy protection on May 14,
2010 (Bankr. E.D.N.Y. Case No. 10-73724).  Judge Alan Trust
presides over the case.  Pryor & Mandelup, LLP, assists the Debtor
in its restructuring effort.  The Company estimated its assets and
debts at $50 million to $100 million.  JNL also disclosed that its
combined general unsecured debts total $19,509,090, for total
debts of $50,677,195.


JNL FUNDING: Christopher Ellis Appointed Chapter 11 Examiner
------------------------------------------------------------
The Hon. Alan S. Trust of the U.S. Bankruptcy Court for the
Eastern District of New York approved the appointment of
Christopher Ellis as Chapter 11 examiner in the reorganization
case of JNL Funding Corp.

Mr. Ellis will conduct an investigation into the prepetition
financial activities by Debtor:

   a) Alleged transfers made to the president and sole voting
      shareholder of JNL, Joseph Forgione's personal accounts and
      to accounts of entities owned or controlled by Mr. Forgione,
      or parties related to Mr. Forgione, using the proceeds of
      Textron Financial Corporation's revolving loan advances to
      Debtor;

   b) Alleged diversions by Mr. Forgione of millions of dollars of
      TFC's revolving loan advances to Debtor from Debtor's bank
      accounts to Mr. Forgione's personal accounts, allegedly
      denominated as "Forgione dba JNL Funding," which funds were
      then allegedly used by Mr. Forgione to make payments to
      individuals or entities who allegedly made loans or
      investments to Mr. Forgione personally, as distinguished
      from loans to or investments in the Debtor; and

   c) Alleged loans made by Debtor to its clients that were
      supposed to be supported by independent appraisals, but were
      not supported by legitimate appraisals.

The Court also ordered that a status conference will be held on
September 29, 2010, at 3:00 p.m. with the examiner to discuss the
progress on this investigation.

The examiner will prepare a report of his investigation by
October 25.  The examiner will discuss with all parties-in-
interest at a status conference on October 27 at 2:00 p.m.;
provided, that the examiner may seek an extension of the filing
deadline for cause.

                         About JNL Funding

JNL Funding Corp., based in Farmingdale, New York, was formed to
originate and invest primarily in real estate related first
priority mortgage loans.  JNL is a speciality finance company
which provides short-term (generally one to two years) financing
for borrowers with specialized expertise in the acquisition,
rehabilitation and the resale of vacant one-to-four family
residential properties in New York City and Long Island, New York.
The company also provides construction financing for these
properties and other special situations.

JNL Funding filed for Chapter 11 bankruptcy protection on May 14,
2010 (Bankr. E.D.N.Y. Case No. 10-73724).  Judge Alan Trust
presides over the case.  Pryor & Mandelup, LLP, assists the Debtor
in its restructuring effort.  The Company estimated its assets and
debts at $50 million to $100 million.  JNL also disclosed that its
combined general unsecured debts total $19,509,090, for total
debts of $50,677,195.


J.T. HILL: Case Summary & 9 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: J.T. Hill, Inc.
        2040 North Bell Street
        Fremont, NE 68025

Bankruptcy Case No.: 10-82475

Chapter 11 Petition Date: August 25, 2010

Court: United States Bankruptcy Court
       District of Nebraska (Omaha Office)

Judge: Thomas L. Saladino

Debtor's Counsel: David Grant Hicks, Esq.
                  POLLAK & HICKS PC
                  6910 Pacific St., #216
                  Omaha, NE 68106
                  Tel: (402) 345-1717
                  E-mail: dhickslaw@aol.com

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

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

A list of the Company's nine largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/neb10-82475.pdf

The petition was signed by Jim Hill, president.


KELLY DEFEO: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Kelly B. DeFeo
        1905 Skippack Pike
        Blue Bell, PA 19422

Bankruptcy Case No.: 10-17155

Chapter 11 Petition Date: August 24, 2010

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Judge: Bruce I. Fox

Debtor's Counsel: Thomas Daniel Bielli, Esq.
                  CIARDI CIARDI & ASTIN, P.C.
                  One Commerce Square
                  2005 Market Street, Suite 1930
                  Philadelphia, PA 19103
                  Tel: (215) 557-3550
                  Fax: (215) 557-3551
                  E-mail: tbielli@ciardilaw.com

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

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

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


LAKE AT LAS VEGAS: Former Owners Seek Jury Trial
------------------------------------------------
Patrick Fitzgerald at Dow Jones' Daily Bankruptcy Review reports
that brothers Sid and Lee Bass, who once owned a stake in the Lake
Las Vegas real-estate development, want a federal jury trial to
hear a lawsuit filed by the trustee representing Lake Las Vegas'
creditors.  The brothers also want the case moved to U.S. District
Court from bankruptcy court.

As reported by the Troubled Company Reporter on July 26, 2010,
Larry Lattig, in his capacity as trustee of the LLV Creditor Trust
in the Chapter 11 case of Lake at Las Vegas Joint Venture, LLC,
and its debtor-affiliates, asked the U.S. Bankruptcy Court for the
District of Nevada to award the creditor trust $469,000,000 for
the fraudulent insider transfers.

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

Mr. Lattig told the Court that:

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

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

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

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

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

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

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

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

Mr. Lattig is an executive at Mesirow Financial Consulting.

According to DBR, the lawsuit alleges the $470 million the Bass
brothers and California developer Ron Boeddeker paid themselves
and other Lake Las Vegas insiders in 2004 was a "mortal wound" to
the project from which it never recovered.

DBR notes the former owners have denied wrongdoing.  A lawyer for
the Bass brothers couldn't be reached for comment.

DBR notes the key transaction at issue in the trustee's lawsuit is
a November 2004 loan deal in which the former owners borrowed $560
million from lenders led by Credit Suisse Group. Upon completing
the 2004 loan transaction, Mr. Lattig says, Mr. Boeddeker and his
wholly owned company, Transcontinental Corp., each received a $109
million payment.

According to DBR, Lee Bass took out $112 million while Sid Bass
received $109 million.  Various other insiders and affiliates of
the owners received millions of dollars more.

                    About Lake Las Vegas

Headquartered in Henderson, Nevada, Lake at Las Vegas Joint
Venture, LLC and 14 of its debtor-affiliates --
http://www.lakelasvegas.com/-- owned and developed the 3,592-acre
residential and resort destination Lake Las Vegas Resort in Las
Vegas, Nevada.

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

Lake Las Vegas emerged from Chapter 11 bankruptcy protection in
July 2010.


LANCE LARSON: Case Summary & 8 Largest Unsecured Creditors
----------------------------------------------------------
Joint Debtors: Lance M. Larson
               Sherrie L. Larson
               1131 La Limonar Road
               Santa Ana, CA 92705

Bankruptcy Case No.: 10-22563

Chapter 11 Petition Date: September 7, 2010

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

Judge: Erithe A. Smith

Debtors' Counsel: Matthew L. Tonkovich, Esq.
                  TONKOVICH LAW FIRM
                  P.O. Box 54908
                  Irvine, CA 92619-4908
                  Tel: (714) 558-8692
                  Fax: (714) 242-9199
                  E-mail: matt@tonkovich.com

Scheduled Assets: $1,625,628

Scheduled Debts: $1,809,239

A list of the Joint Debtors' eight largest unsecured
creditors filed together with the petition is available for
free at http://bankrupt.com/misc/cacb10-22563.pdf


LARRY WILCOX: Case Summary & 19 Largest Unsecured Creditors
-----------------------------------------------------------
Joint Debtors: Larry Dee Wilcox
               Marlene Rae Wilcox
               10 Appaloosa Lane
               West Hills, CA 91307

Bankruptcy Case No.: 10-21156

Chapter 11 Petition Date: September 7, 2010

Court: U.S. Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Kathleen Thompson

Debtors' Counsel: Kenneth Jay Schwartz, Esq.
                  21031 Ventura Boulevard, 12th Floor
                  Woodland Hills, CA 91364-2203
                  Tel: (818) 226-1205
                  Fax: (818) 226-1213
                  E-mail: atty-kjs@sbcglobal.net

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

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

A list of the Joint Debtors' 19 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-21156.pdf


LAS VEGAS RAILWAY: Incurs $517,000 Net Loss in June 30 Quarter
--------------------------------------------------------------
Las Vegas Railway Express, Inc., filed its quarterly report on
Form 10-Q, reporting a net loss of $517,026 for the three months
ended June 30, 2010, compared to a net loss of $341,221 for the
three months ended June 30, 2009.

For the quarter ended, June 30, 2010, there were no revenues
associated with the railcar operations.  The Company has an
accumulative deficit of $8.49 million through June 30, 2010.
Although a substantial portion of the Company's cumulative net
loss is attributable to discontinued operations, management
believes that it will need additional equity or debt financing to
be able to sustain profitability.

The Company's balance sheet at June 30, 2010, showed $1.32 million
in total assets, $2.09 million in total liabilities, and a
stockholders' deficit of $770,059.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6af4

Hamilton, PC, in Denver, Colo, expressed substantial doubt about
the Company's ability to continue as a going concern, following
its results for the fiscal year ended March 31, 2010.  The
independent auditors noted that the Company has suffered recurring
losses from operations.

                     About Las Vegas Railway

Las Vegas, Nev.-based Las Vegas Railway Express, Inc., formerly
Liberty Capital Asset Management, Inc. was formed March 9, 2007,
as Corporate Outfitters, a development stage company.  On
November 3, 2008, with a share exchange, asset purchase agreement
the Company acquired Liberty Capital Asset Management, a Nevada
corporation, formed in July of 2008 as a holding company for all
the assets of CD Banc LLC in contemplation of the company going
public via a reverse merger into a publicly trading corporation.

CD Banc LLC was formed in 2003 as a Nevada limited liability
corporation with the purpose of acquiring real estate assets and
holding them for long-term appreciation.

The Company acquired Las Vegas Railway Express (LVRE) in
January 2010 and began its operations as the primary business of
the Company.  The Company subsequently changed its name from Las
Vegas Railway Express, to Las Vegas Railway Express, Inc., and is
traded under the symbol XTRN.OB.


LAWRENCE BROCK: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Joint Debtors: Lawrence A. Brock
               Diane Melree Brock
               2237 4th Street
               Boulder, CO 80302

Bankruptcy Case No.: 10-32881

Chapter 11 Petition Date: September 8, 2010

Court: U.S. Bankruptcy Court
       District of Colorado (Denver)

Judge: Michael E. Romero

Debtors' Counsel: Joseph G. Rosania, Esq.
                  950 Spruce Street, Suite 1C
                  Louisville, CO 80027
                  Tel: (303) 661-9292
                  E-mail: joe@crlpc.com

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

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

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


LEHMAN BROTHERS: Seeks Appointment of Fourth Mediator
-----------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors seek
court approval to appoint Jacob Esher as fourth mediator for
disputes that reach the mediation stage.

Mr. Esher satisfies all of the requirements for a mediator and is
willing and able to serve as one for mediations conducted
pursuant to the Court's September 17, 2009 order, according to
Peter Gruenberger, Esq., at Weil Gotshal & Manges LLP, in New
York.

The September 17 order authorized the implementation of a process
for prosecuting the Debtors' claims under pre-bankruptcy
derivative contracts with monetary recovery potential.

The Court will consider the Debtors' request at a hearing
scheduled for September 22, 2010.  Deadline for filing objections
is September 13, 2010.

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Sets Process to Resolve <$1MM Derivative Claims
----------------------------------------------------------------
Lehman Brothers Holdings Inc. and its affiliated debtors seek
court approval to implement alternative dispute resolution
procedures for affirmative claims under derivatives contracts
equal to or less than $1 million.

The proposed process is a streamlined version of the alternative
dispute resolution procedures, which the Court approved on
September 17, 2009.  The proposed process would solely apply to
the Debtors' claims, which stemmed from their terminated pre-
bankruptcy derivatives contracts, that are equal to or less than
$1 million.

Peter Gruenberger, Esq., at Weil Gotshal & Manges LLP, in New
York, says the proposed process does not differ from the court-
approved ADR procedures except for "small adjustments" designed
to reduce the costs and to expedite the settlement of claims.

Under the proposed process, the period of time for counterparty
to a derivative contract to respond to a notice was shortened
from 30 days to 15 days.  The provisions relating to the initial
settlement conference stage and deadlines for response to the
request were also deleted.

The proposed process, which will be overseen by a different group
of approved mediators, also decreases the participation of the
Official Committee of Unsecured Creditors.

Derivatives contracts between a Debtor and a special purpose
vehicle or trust administered by an indenture trustee will not
also be subject to the proposed process.

A full-text copy of the proposed order, which reflects the
changes made to the court-approved ADR procedures, is available
for free at http://bankrupt.com/misc/LBHI_Tier2ADRProcedures.pdf

The Court will consider approval of the Debtors' request at the
September 22, 2010.  Deadline for filing objections is
September 13, 2010.

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Proposes to Trade Special Purpose Vehicled Notes
-----------------------------------------------------------------
Before the Petition Date, Lehman Brothers Holdings Inc. and its
units entered into swap or other derivative agreements or loan
agreements with various special purpose vehicles.  The SPVs then
issued notes or securities to third parties in a variety of
scenarios.  Certain Notes are secured by the applicable SPV's
interest in Derivative Agreements and other Collateral.  The SPVs'
obligations to perform on the Transaction Agreements are also
secured by the Collateral.

Other SPVs entered into Loan Agreements with the Debtors in order
to provide a levered return to the holders of Notes, Lori R.
Fife, Esq., at Weil Gotshal & Manges LLP, in New York, says.  He
adds that certain of the SPVs with which the Debtors entered into
Transaction Agreements issued equity or other interests to a
separate SPV, which issued the relevant Notes to third parties.

By this motion, the Debtors seek authorization from the Court to
establish procedures by which they may (i) purchase, either in
the open market or through private negotiations with current
Noteholders, Notes issued by SPVs with which the Debtors are
party to Transaction Agreements or by SPVs that are the holder of
equity or other interests in separate SPVs with which the Debtors
are party to Transaction Agreements; (ii) exercise all rights and
remedies afforded them as holders of Purchased Notes; and (iii)
sell Purchased Notes to third parties.

The Debtors seek the authority to purchase Notes for a number of
reasons, one or more of which may be applicable to any particular
SPV Note Transaction, Mr. Fife says.  Among the reasons are:

  * The Debtors believe that, as a consequence of the results of
    litigation among the Debtors and certain Transaction Parties
    regarding the Debtors' rights to priority payment under
    their Derivative Agreements, and the possibility of the
    Debtors obtaining similar results in litigation with other
    Transaction Parties, the current market price of Notes
    issued by certain SPVs is less than the value of the
    Collateral securing the repayment of the Notes.

  * If the Debtors purchase the requisite amount of certain
    Notes issued by certain SPVs, the Debtors may be able to
    direct the Indenture Trustee to settle litigation with the
    Debtors related to the relevant SPV.

  * With respect to SPVs in which the Debtors are or may become
    involved in litigation with respect to their Derivative
    Agreements, acquisition of the Notes issued by the SPVs may
    serve as a hedge against the Debtors' litigation risk.

  * With respect to certain SPVs with which the Debtors have
    entered into Transaction Agreements on which the Debtors are
    unable to recover due to inaction by current Noteholders to
    redeem their Notes, the purchase and redemption by the
    Debtors of the requisite amount of Notes issued by a
    particular SPV may enable the Debtors to direct the
    liquidation of Collateral and underlying assets of a
    particular SPV and any subsidiaries.

The Debtors hope to settle their disputes regarding Transaction
Agreements consensually and maximize their recovery as quickly
and economically as possible, Mr. Fife tells the Court.
Nevertheless, the Debtors will, as appropriate, continue to
pursue through litigation and other dispute resolution efforts
their rights to payment and their claims against Transaction
Parties that have violated the automatic stay by purporting to
subordinate the Debtors' rights to payment priority under their
Derivative Agreements on the basis of the unenforceable "ipso
facto provisions" in the Governing Documents, as well as litigate
against other claims brought against the Debtors by Transaction
Parties challenging the Debtors' right to payment under their
Transaction Agreements, he adds.

To minimize the need to litigate the disputes with Transaction
Parties and spare their estates the attendant costs and risks,
however, the Debtors seek authority to enter into SPV Note
Transactions pursuant to these procedures:

  a. All proposed SPV Note Transactions will be reviewed by an
     approval committee established by the Debtors.  The
     financial advisors to the Creditors' Committee will receive
     notice of, and may attend, all meetings of the SPV Note
     Transactions Committee and will have access to the
     personnel of the Debtors involved in evaluating the
     proposed SPV Note Transactions.

  b. With respect to all proposed SPV Note Transactions, the
     Debtors will provide (i) e-mail notification to the
     Advisors of any SPV Note Transactions Meeting regarding the
     approval of an SPV Note Transaction not later than one (1)
     Business Day prior to such meeting , which email must
     contain the material terms of the proposed SPV Note
     Transaction and (ii) an information package as soon as
     practicable but not less than five Business Days prior to
     the SPV Note Transactions Meeting that will consist of (a)
     the Governing Documents pursuant to which the relevant
     Notes were issued, and (b) market data, valuation inputs,
     models and assumptions used by the Debtors to prepare their
     analysis for the SPV Note Transactions Committee that
     relate to and were used to determine the value of the
     relevant Notes and adjustments thereto.

  c. Informal discussions among the Debtors and the Advisors
     relative to prospective SPV Note Transactions will commence
     no later than five Business Days prior to the relevant SPV
     Note Transaction Meeting.

  d. If the amount proposed to be paid by the Debtors to a
     Noteholder for the purchase of Notes in an SPV Note
     Transaction is greater than $25,000,000, the Debtors may
     enter into the SPV Note Transaction only if (i) the
     Creditors' Committee, a subcommittee, or other designee
     thereof consents in writing before the SPV Note Transaction
     is executed or (ii) upon Court approval.

  e. The Debtors may enter into an SPV Note Transaction
     involving a Purchase Price less than or equal to
     $25,000,000 only (i) if (a) at least one (1) representative
     of the Advisors attends the portion of the SPV Note
     Transactions Meeting during which the proposed SPV Note
     Transaction was discussed and approved, and (b) the
     Advisors do not object within six (6) business hours,
     herein defined as the hours between 9:00 a.m. and 5:00 p.m.
     (Prevailing Eastern Time) on Business Days, after receipt
     of e-mail notification of the SPV Note Transactions
     Committee's approval of the SPV Note Transaction, (ii) with
     the written consent of the Creditors' Committee, a
     subcommittee, or other designee thereof, or (iii) upon
     Court approval.

  f. The Debtors may enter into an SPV Note Transaction
     involving the sale of a Purchased Note only if (i) the
     Creditors' Committee, a subcommittee, or other designee
     thereof consents in writing before the SPV Note Transaction
     is scheduled to be executed or (ii) upon Court approval.

  g. The Debtors will provide updates to the Creditors'
     Committee regarding (i) the number of SPV Note Transactions
     that have been consummated and (ii) the Purchase Price and
     sale price of Purchased Notes received by the Debtors, as
     applicable, on a transaction-by-transaction basis in
     connection with such SPV Note Transactions promptly
     following the request by the Creditors' Committee or its
     Advisors.

  h. The Debtors and the Creditors' Committee reserve all rights
     and remedies with respect to the SPV Note Purchase
     Procedures and may seek to amend the upon Court approval.

  i. The Debtors' ability to carry out the actions set forth in
     the foregoing procedures will not override any applicable
     notice, consent or other rights that any third parties may
     have pursuant to agreements with the Debtors.

  j. Nothing in the foregoing procedures will prevent the
     Debtors, in their sole discretion, from (i) seeking, upon
     notice and hearing, the Court's approval of any proposed
     SPV Note Transaction, including on an expedited basis, (ii)
     pursuing any and all claims and rights of action, through
     litigation or otherwise, that the Debtors may have against
     any Transaction Party or (iii) exercising any and all
     rights and remedies as holders of any Notes.

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: Fubon Propsoes to Assign Stake in Lehman Note
--------------------------------------------------------------
Taipei Fubon Commercial Bank Co. Ltd. seeks approval from the U.S.
Bankruptcy Court for the Southern District of New York to assign
its interests on a promissory note worth $25 million issued by
Lehman Brothers Holdings Inc.

The move came following LBHI's alleged refusal to have Taipei
Fubon's interests assigned to a third party.  The terms of the
note do not allow the assignment of rights or obligations of LBHI
or the bank without the prior consent of both parties.

LBHI issued the promissory note in connection with the $10
million loan it availed from Taipei Fubon.  The company defaulted
under the note when it filed for bankruptcy protection in 2008.

Taipei Fubon has already filed a claim against LBHI in the sum of
$12,909,634, of which $10,020,742 stemmed from the promissory
note.

The Court will consider approval of the request at the hearing
scheduled for September 22, 2010.  Deadline for filing objections
is September 15, 2010.

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: LBFA Seeks Nod for Late Filing of $160MM Claim
---------------------------------------------------------------
Lehman Brothers Finance Asia Pte. Ltd. seeks a court ruling
allowing the late filing of its proofs of claim against Lehman
Brothers Holdings Inc.

LBFA holds a claim against LBHI's affiliated debtors in the sum
of $160 million, which stemmed from an inter-company derivatives
deal.  LBHI guaranteed the obligations of its affiliated debtors
under the deal.

LBFA was not able to file its proofs of claim prior to the
September 22, 2009 deadline due to "a series of unfortunate
miscommunications and misunderstandings," according to its
lawyer, Daniel Eggermann, Esq., at Kramer Levin Naftalis &
Frankel LLP, in New York -- deggermann@kramerlevin.com

Mr. Eggermann also asks the Court to issue a ruling that LBFA's
derivatives and guarantee questionnaires that were submitted on
time are deemed informal proofs of claim.

In LBHI's bankruptcy case, creditors are required to file a
questionnaire if they hold claims based on a derivative or
guarantee.

The Court will consider approval of the request at the hearing
scheduled for September 22, 2010.  Deadline for filing objections
is September 13, 2010.

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEHMAN BROTHERS: LBCC-Norton Settlement Completed
-------------------------------------------------
Norton Gold Fields Limited said that its hedge litigation
settlement with Lehman Brothers Commercial Corp. Inc. has been
completed.

Norton hammered out the deal to settle the hedge dispute, under
which its gold hedge with LBCC will be cancelled in exchange for
payment to LBCC of AUD$10 million upfront and the issuance of a
senior secured note for AUD$97 million to be repaid over four
years.

As a result of the completion of the settlement, Norton's
production is now completely unhedged and the related Lehman
litigation in the United States has been withdrawn, according to
a September 6 company statement.

"With the uncertainty of the hedge and litigation with Lehman
Brothers now out of the way, we are focusing on the delivery of
consistent production at Norton's operations and driving costs
down," newly appointed Chief Executive Andre Labuschagne said in
the statement.

"Importantly, our shareholders now will have full exposure to the
current gold price and any further upside potential," Mr.
Labuschagne said.

In connection with the settlement, LBCC withdrew a motion it
filed with the U.S. Bankruptcy Court for the Southern District of
New York, which sought an order directing Norton to perform its
obligations under a swap agreement.  Norton, meanwhile, dropped
its objection to the motion.

                        About Lehman Brothers

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

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

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

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

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

                 International Operations Collapse

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

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

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


LEXARIA CORP: Posts $29,412 Net Loss in July 31 Quarter
-------------------------------------------------------
Lexaria Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $29,412 on $122,462 of revenue for the
three months ended July 31, 2010, compared with a net loss of
$208,288 on $129,544 of revenue for the same period ended July 31,
2009.

The Company's accumulated losses increased to $3.85 million as of
July 31, 2010.

The Company's balance sheet as of July 31, 2010, showed
$3.42 million in total assets, $1.21 million in total liabilities,
and stockholders' equity of $2.21 million.

Chang Lee LLP, in Vancouver, Canada, expressed substantial doubt
about the Company's ability to continue as a going concern,
following its results for the year ended October 31, 2009.  The
independent auditors noted that the Company had recurring losses
and requires additional funds to maintain its planned operations.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6afd

                    About Lexaria Corporation

Based in Vancouver, British Columbia, Lexaria Corporation (OTC BB:
LXRP; CNSX: LXX) -- http://www.lexariaenergy.com/-- is an
independent natural gas and oil company engaged in the
exploration, development and acquisition of oil and gas properties
in the United States and Canada.  The Company's entry into the oil
and gas business began on February 3, 2005.  The Company has
offices in Vancouver and Kelowna, B.C., Canada.


L.T. TITAN: Case Summary & 6 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: L.T. Titan Limited Partnership
        10501 Valley Boulevard, Suite 1888
        El Monte, CA 91731

Bankruptcy Case No.: 10-47941

Chapter 11 Petition Date: September 7, 2010

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

Judge: Victoria S. Kaufman

Debtor's Counsel: Adam C. Thiel, Esq.
                  LAW OFFICE OF ADAM C. THIEL
                  7755 Center Avenue, Suite 1100
                  Huntington Beach, CA 92674
                  Tel: (714) 372-2255
                  Fax: (714) 908-3666

Scheduled Assets: $3,005,000

Scheduled Debts: $4,000,000

A list of the Company's six largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-47941.pdf

The petition was signed by Jean Lang, president of Titan
Transpacific, Inc., general partner.


METRO-GOLDWYN-MAYER: Spyglass Inks Non-Binding Management Deal
--------------------------------------------------------------
Claudia Eller and Ben Fritz, writing for The Los Angeles Times,
report that Spyglass Entertainment founders Gary Barber and Roger
Birnbaum have signed a nonbinding letter of intent to take over
the management of Metro-Goldwyn-Mayer as co-chairmen and co-chief
executives, according to people familiar with the deal.

Lenders to MGM, which owes more than $3.7 billion, have endorsed
the plan, said the person, who asked not to be identified because
the agreement isn't public, according to Bloomberg.

Spyglass, a Los Angeles-based film production company, presented
its restructuring proposal to more than 100 lenders on a
conference call last month.  According to the LA Times, the
proposal calls for:

     -- Spyglass chiefs Gary Barber and Roger Birnbaum to take
        over a significantly slimmed down MGM following a
        pre-packaged bankruptcy;

     -- MGM would produce several movies per year, including a
        "James Bond" movie and two planned pictures based on "The
        Hobbit," and outsource theatrical distribution to one of
        the six major studios per year;

     -- Messrs. Barber and Birnbaum would get an ownership stake
        of 4% to 5% in the new MGM;

     -- About 15 movie titles owned by Messrs. Barber and
        Birnbaum, such as "The Sixth Sense" and "Seabiscuit,"
        would be folded into MGM's catalog of 4,000 movies; and

     -- Spyglass would remain a separate company producing its own
        films.

The LA Times relates the Spyglass executives have also been in
talks with veteran Hollywood business executive Ken Schapiro to
join the nearly bankrupt studio as chief operating officer once
they take the reins.

Mr. Schapiro is partnered with Amir Malin in private media
investment fund Qualia Capital, which this year proposed
restructuring MGM with a $500-million cash infusion to keep the
studio alive as a scaled-back operation.

According to LA Times, if Mr. Schapiro joins the new MGM, Qualia
could become involved in a recapitalization of the studio after
its creditors convert nearly $4 billion in debt to equity as part
of a prepackaged bankruptcy, people close to the situation
suggested.  Mr. Schapiro, who worked with Barber at Morgan Creek
Productions in the 1990s, did not return a call seeking comment.

LA Times relates that before Messrs. Barber and Birnbaum can
assume control of MGM, however, the studio's more than 100 debt
owners and its board of directors must approve the deal and file
the prepackaged bankruptcy.

MGM's sixth forbearance on interest payments on its debt load
expires Sept. 15, but that deadline probably would need to be
extended once again to complete the Spyglass deal.

LA Times also notes independent studio Lions Gate Entertainment
Corp. still has an alternative proposal on the table to merge with
MGM.  Warner Bros. parent Time Warner Inc. is also in the wings
with a long-standing $1.5-billion acquisition offer.  Spyglass did
not return a call seeking comment.


                    About Metro-Goldwyn-Mayer

Metro-Goldwyn-Mayer, Inc., is an independent, privately held
motion picture, television, home video, and theatrical production
and Distribution Company.  The Company owns the world's largest
library of modern films, comprising approximately 4,000 titles,
and over 10,400 episodes of television programming.  An investor
consortium, comprised of Providence Equity Partners, TPG Capital,
Sony Corporation of America, Comcast Corporation, DLJ Merchant
Banking Partners and Quadrangle Group, owns MGM.

MGM is grappling with $3.7 billion in debt.  In July 2010, MGM
received a sixth forbearance from its bondholders and lenders,
wherein the lenders extended the period during which MGM won't
have to pay principal and interest on its bank debt, including a
revolving credit facility, until September 15.

As reported by the Troubled Company Reporter on August 12, 2010,
sources told The Wall Street Journal that MGM hopes to file a
"prepackaged" bankruptcy sometime in mid-September, when the
latest waiver on debt payments expires.  J.P. Morgan Chase & Co.,
a major MGM creditor, is working on providing between $150 million
and $200 million in debtor-in-possession financing to steer the
studio through bankruptcy, one of the sources told the Journal.

MGM tried to sell itself in March 2010 but received low bids.  MGM
has hired investment bank Moelis & Company and the law firm
Skadden, Arps, Slate, Meagher & Flom.  In August 2009, it hired
the restructuring expert Stephen F. Cooper to help lead the
company.


MEXICANA AIRLINES: US Court Adjourns Hearing on Ch. 15 Recognition
------------------------------------------------------------------
Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York has adjourned the hearing on the motion for
recognition of Mexicana Airlines' insolvency case as a foreign
main proceeding.

Judge Glenn was supposed to hold the hearing September 8, 2010,
but Mexicana Airlines asked the Court to adjourn the hearing for
one to two weeks in light of a pending appointment of a
conciliator in its insolvency case in Mexico.

The Mexican court, which oversees the insolvency case, issued an
order on September 7, 2010, approving Mexicana Airlines' petition
and moving its case into the "conciliation" or reorganization
phase.

In connection with this, the Mexican court ordered that a
conciliator be appointed by the Mexican Ministry of Transport and
Communications within the next few days.

Mexicana Airlines also expects a possible appointment of an
administrator by the Mexican government, who will work with the
conciliator to effect the restructuring since the company
operates under a "concession title" from the transportation
ministry, according to its foreign representative, Maru Johansen.

Ms. Johansen says Mexicana Airlines will spend the next few days
meeting with the conciliator and administrator to talk about the
status of operations and legal proceedings in the U.S., and to
determine if they would like her to continue serving as the
company's foreign representative or they would appoint another
person.

In lieu of the hearing, Judge Glenn scheduled a status
conference, Sept. 8, at 11:00 a.m., on Mexicana Airlines' Chapter
15 case.  The bankruptcy judge has not yet fixed a date for the
next hearing on the motion.

Earlier, Mara Trager, Esq., assistant attorney of the U.S.
government, filed an objection with the Bankruptcy Court, seeking
a ruling that would protect any funds held in trust for
government agencies.

Mexicana Airlines has reportedly been collecting fees from
passengers that are held in trust by the company for government
agencies, which include fees for the Customs and Border
Protection, Department of Agriculture and the Transportation
Safety Administration.

Currently, no remittances of funds held in trust by Mexicana
Airlines for the agencies are due but the company will be
required to remit trust funds it has collected in the coming
weeks or months, according to Ms. Trager.

Since the filing of Mexicana Airlines' motion, a number of
objections have been filed by various groups including the U.S
Trustee and a consortium of airports and airport authorities
represented by New York-based Edwards Angell Palmer & Dodge LLP.

Ms. Johansen says that all but the objection of Banco Mercantil
del Norte S.A. had been or will be resolved by the inclusion of
additional language in the proposed order granting recognition.
RBS Aerospace Limited, she says, has already dropped its
objection.

Banco Mercantil, a secured lender of the company, has complained
over a recent ruling handed down by the Mexican court which the
bank perceives is contradictory to the August 18 order issued by
the Bankruptcy Court, which exempts the bank from the preliminary
injunction.

The Mexican Court's ruling enjoins Banco Mercantil from enforcing
its rights on two bank accounts where Mexicana Airlines' cash
collateral is held.  The ruling came just two days after the
Bankruptcy Court issued its August 18 order.

Ms. Johansen says Mexicana Airlines' lawyers have already
inserted additional language in the proposed order that was
requested by the U.S. Trustee to address her objection.

The company has also reached an agreement with the consortium to
include provisions in the proposed order, with the consortium
reserving its rights to seek relief with respect to issues not
resolved by the order, according to the foreign representative.

Meanwhile, Mexicana Airlines will provide "carve-outs" from
injunctive relief in the proposed order in favor of the leasing
companies, Ms. Johansen further says.

                      About Mexicana Airlines

Compania Mexicana de Aviacion or Mexicana Airlines --
http://www.mexicana.com/-- is a privately held airline and a
subsidiary of Nuevo Grupo Aeronautico.  Founded in 1921, Mexicana
is the oldest commercial carrier in North America.  Charles
Lindbergh piloted the first trip for Mexicana between Brownsville,
Texas, and Mexico City.

Grupo Mexicana de Aviacion is the parent of Compania Mexicana. Two
other units are Aerovias Caribe S.A. de C.V. (Mexicana Click) and
Mexicana Inter S.A. de C.V. (Mexicana Link).

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  In the U.S., the company filed in the U.S.
Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection
(case no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

Maru E. Johansen, foreign representative of Compania Mexicana,
estimated in the Chapter 15 petition that the company has assets
of US$500 million to US$1 billion and debts of more than
US$1 billion.  William C. Heuer, Esq., at Duane Morris LLP, serves
as counsel to Ms. Johansen.

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings

Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines
Bankruptcy News.  The newsletter tracks the chapter 11 proceedings
and the ancillary proceedings undertaken by Compania Mexicana de
Aviacion and its units.  (http://bankrupt.com/newsstand/or
215/945-7000).


MEXICANA AIRLINES: Mexican Court Grants Protection from Creditors
-----------------------------------------------------------------
The Mexican court has granted airline company Grupo Mexicana
protection from creditors, according to a September 7, 2010
report by Dow Jones.

Grupo Mexicana, otherwise known as Nuevo Grupo Aeronautico, is
the holding company for Mexicana Airlines and domestic
subsidiaries, Mexicana Click and Mexicana Link.

Mexico's Communications and Transport Minister Juan Molinar said
the order gives the Communications and Transport Ministry or SCT
a go signal to appoint an administrator for the company and an
arbitrator in the restructuring process, Dow Jones reported.

"Starting tomorrow, we'll be able to have the story much clearer,
because the SCT will be in charge of administration," Mr. Molinar
said, notes the report.

The court order issued by Judge Felipe Consuelo Soto also gives
Grupo Mexicana one year to restructure and avoid bankruptcy,
according to a report by the Agence France-Presse.

The ruling came more than two weeks after Grupo Mexicana was sold
to an investors group, Tenedora K.  The investor group acquired
95% of the company's shares while pilots union ASPA owns the
remaining 5%.

Mr. Molinar said the investor group, together with Advent
International, injected "several million dollars," possibly a
lost investment, to keep Grupo Mexicana's subsidiaries operating
until August 28, 2010.

"What did Tenedora K do? Acquire a company with negative value in
hopes of restructuring it and making it work," Dow Jones quoted
Mr. Molinar as saying during a meeting with reporters.  The
official said the government is not planning to put funds into
the company.

When asked how investing in the company could be preferable to
simply starting a new airline, Mr. Molinar said the company has a
series of assets including intangible assets that "are very
valuable."

"It's very likely that in putting together a new company, none of
those intangible assets would be had," Dow Jones quoted him as
saying.

A more tangible asset of the company are the take-off and landing
slots that it has at the Mexico City International Airport, which
Mr. Molinar said will be temporarily assigned to other airlines
so as not to lose connectivity.  He pointed out, however, that
the slots continue belonging to Grupo Mexicana.

Eduardo Perez Motta, president of Federal Commission on
Competition, stressed the importance of assigning the slots
fairly so as not to favor any company such as Aeromexico, Grupo
Mexicana's rival carrier.

"If that happens, what will occur is that they'll increase the
prices for these services, there will be a drop in the quality of
service, and I think that's what we have to avoid," Dow Jones
quoted him as saying.  He said competition must be maintained in
the interest of passengers.

Details on how much debt has accumulated on Mexicana's books
since its Aug. 3 bankruptcy petition are unavailable, as Tenedora
K and the government remained quiet while awaiting the outcome of
Mexicana's local filing, says the report.  Mr. Molinar declined
to say how much capital would likely be required to save Mexicana
from liquidation.

Delta Air Lines Inc. had said it does not have any imminent plans
to add flights or frequencies to Mexico as a result of Grupo
Mexicana's suspension.  American Airlines likewise disclosed it
is closely monitoring the situation in terms of demand for travel
between the U.S. and Mexico but it has not made a decision
regarding adding additional capacity.

  Aeromexico Rejects Possibility of Taking Over Mexicana

Aeromexico said its shareholders are not considering buying or
investing in Nuevo Grupo Aeronautico or any of its subsidiaries,
according to September 9, 2010 report by Air Transport
Intelligence.

Recent moves by Aeromexico showed that it is more interested in
strengthening its position in the markets it currently serves.
Since Mexicana Airlines ceased its operations, Aeromexico has
opened new routes and has implemented a new program that offers
special fares for ticket holders affected by the cancellation of
flights by the company, says the report.

Aeromexico is also looking to expand its mainline fleet and is
considering expanding its charter unit, Aeromexico Travel, into
the scheduled domestic market, ATI reported.

In an e-mailed statement to Bloomberg News, Aeromexico said it is
evaluating investments to reinforce its position in the national
and international travel markets, even as it waits for "greater
certainty" in the regulatory framework.

The Mexican government has indicated that it would not oppose
Aeromexico taking ownership of Mexicana Airlines, according to
ATI.

The Mexican government and the unions representing pilots and
flight attendants have been looking for new investors to replace
Tenedora K or help in providing additional funding for Mexicana
Airlines, ATI reports.  They aim to re-launch the carrier in
December which is the start of the winter season in the Mexican
market.

Several years ago, the Mexican government opted to pursue
separate privatizations for Aeromexico and Mexicana Airlines
rather than sell them as one airline group.  But in 2008, the
government said it would no longer object to a merger of the two
companies in light of the rapid growth of low-cost carriers in
Mexico, discloses ATI.

Grupo Posadas, previous owners of Mexicana Airlines, also
continued to express interest as recently as last year in a
merger but Aeromexico's owners rejected the idea, says the
report.

The judge overseeing Mexicana Airlines' case said Mexico's
Transportation Department will appoint later this week a new
administrator for the company, which could indicate that Tenedora
K is no longer involved in rescuing the company as the investor
group appointed earlier an initial administrator, ATI reported.

                      About Mexicana Airlines

Compania Mexicana de Aviacion or Mexicana Airlines --
http://www.mexicana.com/-- is a privately held airline and a
subsidiary of Nuevo Grupo Aeronautico.  Founded in 1921, Mexicana
is the oldest commercial carrier in North America.  Charles
Lindbergh piloted the first trip for Mexicana between Brownsville,
Texas, and Mexico City.

Grupo Mexicana de Aviacion is the parent of Compania Mexicana. Two
other units are Aerovias Caribe S.A. de C.V. (Mexicana Click) and
Mexicana Inter S.A. de C.V. (Mexicana Link).

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  In the U.S., the company filed in the U.S.
Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection
(case no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

Maru E. Johansen, foreign representative of Compania Mexicana,
estimated in the Chapter 15 petition that the company has assets
of US$500 million to US$1 billion and debts of more than
US$1 billion.  William C. Heuer, Esq., at Duane Morris LLP, serves
as counsel to Ms. Johansen.

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings

Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines
Bankruptcy News.  The newsletter tracks the chapter 11 proceedings
and the ancillary proceedings undertaken by Compania Mexicana de
Aviacion and its units.  (http://bankrupt.com/newsstand/or
215/945-7000).


MEXICANA AIRLINES: Grounding May Be Permanent, UBS Analysts Say
---------------------------------------------------------------
UBS AG said Mexicana Airlines is unlikely to resume operations
after grounding all its flights over the weekend, according to an
August 31 report by Bloomberg News.

In an e-mailed note, UBS analysts Tomas Lajous and Luis Galvez
said that it will initially curb air traffic and hurt airport
operators including Grupo Aeroportuario del Sureste SAB, Grupo
Aeroportuario del Pacifico SAB and Grupo Aeroportuario del Centro
Norte SAB.

"We expect this should be permanent," the analysts said, adding
that traffic is set to suffer "a material supply-side hit until a
way out is found."  They further said they expect traffic to
recover fairly rapidly given that the drop is supply-side driven.

In a news conference in Mexico City, Juan Molinar Horcasitas,
Mexico's communications and transportation minister said he does
not agree with the UBS analysts' opinion.

"Meetings are continuing with a diverse group of investors that
have shown a very clear interest in restructuring the companies,"
Bloomberg News quoted Mr. Molinar as saying.  The official
further said Mexico is a market best suited to have one
domestically owned international airline, with several competing
for routes within the country.

                      About Mexicana Airlines

Compania Mexicana de Aviacion or Mexicana Airlines --
http://www.mexicana.com/-- is a privately held airline and a
subsidiary of Nuevo Grupo Aeronautico.  Founded in 1921, Mexicana
is the oldest commercial carrier in North America.  Charles
Lindbergh piloted the first trip for Mexicana between Brownsville,
Texas, and Mexico City.

Grupo Mexicana de Aviacion is the parent of Compania Mexicana. Two
other units are Aerovias Caribe S.A. de C.V. (Mexicana Click) and
Mexicana Inter S.A. de C.V. (Mexicana Link).

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  In the U.S., the company filed in the U.S.
Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection
(case no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

Maru E. Johansen, foreign representative of Compania Mexicana,
estimated in the Chapter 15 petition that the company has assets
of US$500 million to US$1 billion and debts of more than
US$1 billion.  William C. Heuer, Esq., at Duane Morris LLP, serves
as counsel to Ms. Johansen.

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings

Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines
Bankruptcy News.  The newsletter tracks the chapter 11 proceedings
and the ancillary proceedings undertaken by Compania Mexicana de
Aviacion and its units.  (http://bankrupt.com/newsstand/or
215/945-7000).


MICHAEL BENTZ: Voluntary Chapter 11 Case Summary
------------------------------------------------
Joint Debtors: Michael August Bentz
                 aka Michael A. Bentz, DDS, P.C.
               Paula Marie Bentz
               4290 Plum Court
               Boulder, CO 80301

Bankruptcy Case No.: 10-32909

Chapter 11 Petition Date: September 8, 2010

Court: U.S. Bankruptcy Court
       District of Colorado (Denver)

Judge: Sidney B. Brooks

Debtors' Counsel: Lee M. Kutner, Esq.
                  303 E. 17th Avenue, Suite 500
                  Denver, CO 80203
                  Tel: (303) 832-2400
                  E-mail: lmk@kutnerlaw.com

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

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

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


MIDWEST OIL: Organizational Meeting to Form Panel on Sept. 14
-------------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on September 14, 2010, at
1:00 p.m. in the bankruptcy case of Midwest Oil of Minnesota, LLC.
The meeting will be held at J. Caleb Boggs Federal Building, 844
King Street, RSuite 5209 (5th Floor), Wilmington, DE 19801.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

Wilmington, Delaware-based Midwest Oil of Minnesota, LLC, filed
for Chapter 11 bankruptcy protection on September 1, 2010 (Bankr.
D. Del. Case No. 10-12771).  Bruce E. Scott, Esq., at Bruce E.
Scott Law Firm, assists the Debtor in its restructuring effort.
The Debtor estimated its assets at $1 million to $10 million and
its debts at $1 million to $10 million.


MINOR FAMILY: Section 341(a) Meeting Scheduled for Oct. 25
----------------------------------------------------------
The U.S. Trustee for Region 4 will convene a meeting of Minor
Family Hotels, LLC's creditors on October 25, 2010, at 11:00 a.m.
The meeting will be held at cr mtg, CVL, Courtroom 100, US
Courthouse, 255 West Main Street, Charlottesville, VA 22902.

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.

Charlottesvile, Virginia-based Minor Family Hotels, LLC, is the
owner of the Landmark Hotel project in downtown Charlottesville,
Virginia.  Minor Family filed for Chapter 11 bankruptcy protection
on September 1, 2010 (Bankr. W.D. Va. Case No. 10-62543).
Benjamin Webb King, Esq., at Woods Rogers Hazlegrove, serves as
bankruptcy counsel.  Minor Family estimated assets and debts at
$10 million to $50 million in its Chapter 11 petition.


MINOR FAMILY: Taps Woods Rogers as Bankruptcy Counsel
-----------------------------------------------------
Minor Family Hotels, LLC, asks for authorization from the U.S.
Bankruptcy Court for the Western District of Virginia to employ
Woods Rogers PLC as bankruptcy counsel.

WR will, among other things:

     a. assist the Debtor in the preparation of its Statement of
        Affairs and Schedules and related documents;

     b. prepare applications, answers, orders, reports and other
        legal papers;

     c. investigate and prosecute any actions arising held by the
        Debtor; and

     d. develop, negotiate, and draft a disclosure statement and
        plan.

The hourly rates of WR personnel are:

        Richard C. Maxwell, Partner                $300
        B. Webb King, Partner                      $210
        Heather M. Hale, Paralegal                 $105
        Partners                                 $210-$400
        Associates                               $155-$180
        Paralegals                                $75-$130

B. Webb King, Esq., a member at WR, assures the Court that the
firm is a "disinterested person" as that term is defined in
Section 101(14) of the Bankruptcy Code.

Charlottesvile, Virginia-based Minor Family Hotels, LLC, is the
owner of the Landmark Hotel project in downtown Charlottesville,
Virginia.  Minor Family filed for Chapter 11 bankruptcy protection
on September 1, 2010 (Bankr. W.D. Va. Case No. 10-62543).  Minor
Family estimated assets and debts at $10 million to $50 million in
its Chapter 11 petition.


NAT'L CONSUMER COOP: Fitch Lowers L-T IDR to 'B-'
-------------------------------------------------
Fitch Ratings has downgraded the long-term Issuer Default Rating
of National Consumer Cooperative Bank to 'B-' from 'B'.  The long-
term IDR of NSB, FSB (FSB) remains 'B'.  Fitch maintains both
ratings on Rating Watch Negative. A full list of rating actions
follows at the end of this release.

NCCB, which is the parent of FSB, has ceased making new loans.
Its daily operations consist primarily of asset sales and
collecting and servicing its remaining loan portfolio.  NCCB
remains focused on reducing debt under amended agreement with its
senior lenders under the revolving credit facility and senior note
agreement.

NCCB has reduced aggregate balance on its senior notes and
revolving facility to $42.4 million at June 30, 2010, from
$215.5 million at Dec. 31, 2009, and expects to repay the
remaining balance before year end 2010.  However, NCCB also has an
additional subordinated debt amortization payment due to the U.S.
Treasury of approximately $23.9 million before year-end 2010.
Liquidity at NCCB appears sufficient to make this payment;
however, following that payment the company's cash position will
likely be quite limited.  Of note, NCCB has the contractual option
to delay the payment on the sub-debt to a later date, albeit with
the consequence of significantly increased interest costs, until
the payment is made.  Further, FSB is prohibited from upstreaming
cash to NCCB as a result of its supervisory agreement.

The current rating levels are supported by the expectation that
near-term operating performance will remain constrained as
impaired loans continue to be a drag on earnings.  Despite some
improvement in asset quality trends, many middle market businesses
in the healthcare, franchise, and hardware markets are still
facing financial difficulties, and asset quality remains
challenged.  Fitch expects NCCB's overall portfolio to continue to
shrink, thus reducing net interest income further.

NCCB and FSB have submitted business plans, as required under the
regulatory orders, and are presently operating in keeping with
those plans.  Futher, FSB's current capital ratios continue to
exceed regulatory requirements.

Fitch expects to resolve the Rating Watch Negative status upon
satisfactory repayment of the senior loan facility and senior
notes as well as the resolution to the subordinated debt
amortization payment of $23.9 million.

Negative rating actions could result from a further reduction in
the ability of NCCB or FSB to meet debt obligations, including
NCCB's upcoming amortization payment, further deterioration in
asset quality or deterioration in capital levels.  There are
several elements of the C&D and supervisory agreement that
restrict operations at NCCB and FSB; thus, any positive rating
momentum will likely be constrained until the C&D and supervisory
agreement is lifted.

Fitch has downgraded and maintains the following ratings on Rating
Watch Negative:

National Consumer Cooperative Bank
  -- Long-term IDR to 'B-' from 'B';
  -- Senior secured to 'BB-(RR1)' from 'BB(RR1)'.

Fitch maintains these ratings on Rating Watch Negative:

National Consumer Cooperative Bank
  -- Short-term IDR 'B';
  -- Individual 'D/E'.

NCB, FSB
  -- Long-term IDR 'B';
  -- Short-term IDR 'B';
  -- Individual 'D';
  -- Long-term deposits 'B+/RR3';
  -- Short-term deposits 'B'.

NCB Capital Trust I
--Preferred stock 'CC/RR6'.

Fitch affirms the following ratings:

National Consumer Cooperative Bank
  -- Support at '5';
  -- Support Floor at 'NF'.

NCB, FSB
  -- Support at '5'.

Fitch assigns the following rating:

NCB, FSB

  -- Support Floor 'NF'.


NEFF CORP: Wayzata Objects to Unsecureds' Plea to Pursue Claims
---------------------------------------------------------------
BankruptcyData.com reports that several parties, including Bank of
America, as agent, and Wayzata Investment Partners filed with the
U.S. Bankruptcy Court objections to Neff's official committee of
unsecured creditors' motion to prosecute certain claims on behalf
of the bankruptcy estates.

The Company also filed a statement of opposition to this same
motion, explaining, "The Committee's Standing Motion should be
denied. The Debtors were fully justified in deciding to pursue
their prearranged restructuring rather than pursue a speculative,
protracted litigation arising from the 2007 LBO and 2008 Exchange
that would irreparably injure its prospects for reorganization.
The Debtors' decision has been vindicated: (1) by engaging with
the participants in its capital structure, the Debtors have
maximized enterprise value and increased creditor recoveries by
over $100 million; and (2) as the Committee's Proposed Complaint
now demonstrates, the claims arising out of the LBO and Exchange
are not colorable and are unlikely to survive motions to dismiss.
Even if the claims were colorable, they present such a minimal
likelihood of success that they do not justify the overwhelming
costs that the litigation would impose on the Debtors."

Finally, the official committee of unsecured creditors filed an
objection to the Debtors' Amended Joint Plan.

                           About Neff Corp.

Privately held Neff Corp., doing business as Neff Rental, provides
construction companies, golf course developers, industrial plants,
the oil industry, and governments with reliable and quality
equipment that is delivered on time where it is needed.  With more
than 1,000 employees operating from branches coast to coast, Neff
Rental is ranked by Rental Equipment Register (RER) magazine as
one of the nation's 10 largest  equipment rental companies.

Neff Corp. and its units, including Neff Rental Inc. filed for
Chapter 11 on May 17, 2010 (Bankr. S.D.N.Y. Case No. 10-12610).

Based in Miami, Neff had assets of $299 million and debt of
$609 million as of the Petition Date, according to the disclosure
statement explaining the plan.  Funded debt totals $580 million.
Revenue in 2009 was $192 million.

Neff has selected an affiliate of Wayzata Investment Partners as
the successful bidder to sponsor its reorganization plan.  The
Plan provides (i) cash recoveries available to second lien lenders
of $73 million, (ii) payment in full in cash or right to
participate in a rights offering for up to $181.6 million for
first lien lenders.  The deadline to vote on Neff's Plan is
September 1, 2010, with Neff's confirmation hearing scheduled to
occur on September 14, 2010.


NEW ORIENTAL: Provides Action Plan to Regain Nasdaq Compliance
--------------------------------------------------------------
On August 27, 2010, New Oriental Energy & Chemical Corp. outlined
in a letter to the NASDAQ Stock Market the steps it is undertaking
to achieve compliance with NASDAQ's minimum shareholder equity
requirement of $2,500,000, including the entry into the
Indebtedness Conversion Agreements as described below.  In
addition, the Company informed NASDAQ that it is in the process of
negotiating similar agreements for the conversion of additional
loans to common stock at $1.00 per share and anticipates these
agreements will be executed in the near future.

The Company had a stockholders' deficit of $470,784 as of June 30,
2010 of $470,784.

                    Debt Conversion Agreements

Management reports it has entered into agreements with two former
shareholders for the conversion of $700,000 and $739,899 of debt,
respectively, into shares of common stock, at a conversion rate of
$1.00 per share, which is above the current price of New Oriental
shares.  This action would result in the issuance of 1,439,899 new
common shares and a reduction in debt of $1,439,899.

The Company also states it is in the process of negotiating
similar agreements for the additional conversion of approximately
$1,473,000 of loans to common stock at $1.00 per share, and
anticipates these agreements will be executed in the near future,
resulting in the issuance of approximately 1,473,000 additional
common shares.

The Company also informed NASDAQ that it is pursuing additional
approaches to meet the minimum shareholder equity requirement,
including negotiating with the holders of the Company's warrants
to lower the exercise price on the warrants from $2.00 to $1.00 to
provide holders of the warrants an incentive to convert their
warrants into common stock, discussions with management of the
Company about providing their personal funds for additional paid-
in capital, and discussions with holders of an additional
RMB 70 million in loans about possible conversion of these loans
into common stock.

A full-text copy of the Letter dated August 27, 2010, to the
NASDAQ Stock Market is available for free at:

               http://researcharchives.com/t/s?6af0

                        About New Oriental

New Oriental Energy & Chemical Corp. (NASDAQ: NOEC)
-- http://www.neworientalenergy.com/-- was incorporated in the
State of Delaware on November 15, 2004.  The Company is an
emerging coal-based alternative fuels and specialty chemical
manufacturer based in Henan Province, in the Peoples'
Republic of China.  The Company's core products are urea and other
coal-based chemicals primarily utilized as fertilizers.  All of
the Company's sales are made through a network of distribution
partners in the Peoples' Republic of China.

The Company's balance sheet at June 30, 2010, showed $77.7 million
in total assets, $78.2 million in total liabilities, and a
stockholders' deficit of $470,784.

As reported in the Troubled Company Reporter on July 2, 2010,
Weinberg & Company, P.A., in Boca Raton, Florida, expressed
substantial doubt about the Company's ability to continue as a
going concern, following its results for the fiscal year ended
March 31, 2010.  The independent auditors noted that the Company
incurred a net loss of $12.8 million and has negative cash flows
from operations of $7.5 million for the year ended March 31, 2010,
and has a working capital deficit of $44.1 million at March 31,
2010.


NEW ORIENTAL: Incurs $2.6 Million Net Loss in June 30 Quarter
-------------------------------------------------------------
New Oriental Energy & Chemical Corp, filed its quarterly report on
Form 10-Q, reporting a net loss of $2.6 million on $13.7 million
of revenue for the three months ended June 30, 2010, compared with
a net loss of $3.2 million on $8.4 million of revenue for the same
period last year.

The Company has negative cash flow from operations of $3.6 million
for the three months ended June 30, 2010, and has a working
capital deficit of $46.0 million at June 30, 2010.  The Company
says it will need to obtain additional financing to continue
operations beyond 2011.

The Company's balance sheet at June 30, 2010, showed $77.7 million
in total assets, $78.2 million in total liabilities, and a
stockholders' deficit of $470,784.

As reported in the Troubled Company Reporter on July 2, 2010,
Weinberg & Company, P.A., in Boca Raton, Florida, expressed
substantial doubt about the Company's ability to continue as a
going concern, following its results for the fiscal year ended
March 31, 2010.  The independent auditors noted that the Company
incurred a net loss of $12.8 million and has negative cash flows
from operations of $7.5 million for the year ended March 31, 2010,
and has a working capital deficit of $44.1 million at March 31,
2010.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6aef

                        About New Oriental

New Oriental Energy & Chemical Corp. (NASDAQ: NOEC)
-- http://www.neworientalenergy.com/-- was incorporated in the
State of Delaware on November 15, 2004.  The Company is an
emerging coal-based alternative fuels and specialty chemical
manufacturer based in Henan Province, in the Peoples'
Republic of China.  The Company's core products are urea and other
coal-based chemicals primarily utilized as fertilizers.  All of
the Company's sales are made through a network of distribution
partners in the Peoples' Republic of China.


NICOLAS MARSCH: James L. Kennedy Appointed as Chapter 11 Trustee
----------------------------------------------------------------
The Hon. Peter W. Bowie of the U.S. Bankruptcy Court for the
Southern District of California approved the appointment of James
L. Kennedy as Chapter 11 trustee in each of the reorganization
cases of Nicolas Marsch III, and Briarwood Capital, LLC.

KBR Group sought for the trustee appointment.

Rancho Santa Fe, California-based Nicolas Marsch, III, filed for
Chapter 11 bankruptcy protection on February 25, 2010 (Bankr. S.D.
Calif. Case No. 10-02939).  Jeffry A. Davis, Esq., at Mintz Levin
Cohn Ferris Glovsky & Popeo, represents the Debtor in its
restructuring effort.  The Debtor estimated assets at $100 million
to $500 million and debts at $10 million to $50 million.


NORTEL NETWORKS: Claim Transfers for June-August Total $6.5MM
-------------------------------------------------------------
Fourteen claims, totaling $2,578,917, changed hands in Nortel
Networks' bankruptcy cases in June 2010.  The claims are:

Transferors           Transferee            Claim No.  Claim Amt.
-----------           ----------            ---------  ----------
Adex Corporation      US Debt Recovery V LP    7283      $387,503

Blue Heron Micro      Corre Opportunities      2745       $38,919
Opportunities Fund    Fund LP

Blue Heron Micro      Corre Opportunities        --       $14,572
Opportunities Fund    Fund LP

Customersat Com       US Debt Recovery V LP      --       $36,352

Danet Gmbh            Contrarian Funds LLC      424       $56,813


Hain Capital          Hain Capital             1950      $747,603
Holdings Ltd.         Holdings LLC

Hain Capital          Hain Capital              293      $608,549
Holdings Ltd.         Holdings LLC

Newcomm 2000          Corre Opportunities        --       $38,188
                     Fund LP

Testing House de      Hain Capital             2269      $171,080
Mexico S de RL de CV  Holdings LLC

Testing House de      Hain Capital             2268       $66,390
Mexico S de RL de CV  Holdings LLC

Tippit Inc.           US Debt Recovery V LP      --      $140,700

Tippit Inc.           US Debt Recovery V LP      --       $85,000

Veridan Connections   US Debt Recovery V LP    1684      $102,246

Webslingerz. Inc.     Hain Capital             1080       $85,000
                     Holdings LLC

Thirteen claims, totaling $2,958,096, changed hands in the
Debtors' bankruptcy cases in July 2010.  The claims are:

Transferors           Transferee            Claim No.  Claim Amt.
-----------           ----------            ---------  ----------
Berryman Transfer &   ASM Capital III LP        618       $71,364
Storage Inc.

Carnevale Consulting  Fair Harbor Capital        --        $9,000

CNG Global Services   ASM Capital LP             --       $22,898

Ian Martin Limited/   ASM Capital III LP       1055      $969,679
Ian Martin Tech. Staff

Metropolitan Tulsa    Liquidity Solutions      1632       $56,502
Investments LLC

Nera Inc.             ASM Capital III LP       1582      $667,763

North Carolina        Fair Harbor Capital        --       $29,399
State University

Sant Corporation      Liquidity Solutions       956       $14,190

Soapstone Networks    US Debt Recovery V LP      --       $11,264

Telfusion Inc.        US Debt Recovery IV LLC    --        $2,400

UCM/SREP-Corporate    US Debt Recovery V LP      --      $619,250
Woods LLC

Weston Solutions Inc. ASM Capital III LP       5829      $410,139

North Carolina        Fair Harbor Capital      2993       $74,244
State University

Four claims, totaling $944,495, changed hands in the Debtors'
bankruptcy cases in August 2010.  The claims are:

Transferors           Transferee            Claim No.  Claim Amt.
-----------           ----------            ---------  ----------
Apto Solutions Inc.   Creditor Liquidity LP    1140        $1,264

Carlson Marketing     ASM Capital III LP       1359      $617,237
Canada Ltd.

KK Technologies Inc.  ASM Capital LP           5601      $133,392

Squire Sanders &      Contrarian Funds LLC     3303      $192,602
Dempsey LLP

                       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: Proposes HWT Funds Allocation Procedures
---------------------------------------------------------
Nortel Networks Corp. and its four Canadian affiliates seek
permission from the Ontario Superior Court of Justice to
implement a process for the allocation of funds held in their
health and welfare trust.

The Health and Welfare Trust, which is administered by The
Northern Trust Company Canada, has served as a vehicle for Nortel
to provide benefits to its employees.  Most of Nortel's non-
pension employee benefits are paid through the HWT, which has
also funded some of the company's benefit plans.

The proposed process provides that beneficiaries whose claims are
presently being paid or are certain to be payable at some future
date will share in the distribution.

Employee benefits that will share pro rata in the HWT funds are
income replacement and life insurance benefits for employees on
long-term disability; LTD optional life benefit; group life
insurance benefit for pensioners; life-time income benefits for
survivors of non-unionized employees; and survivor transition
benefits or those income benefits for survivors of unionized
former employees.

Under the proposed process, the amount of the distribution to
each beneficiary from the pro rata share of the funds will be
calculated pursuant to the assumptions in the August 27, 2010
report by Nortel's actuarial advisor, Mercer U.S. Inc., with data
as of December 31, 2010.

The Mercer report provides a preliminary valuation of certain
non-pension post-retirement benefit plans and post-employment
benefit plans estimated as of December 31, 2010, when it is
expected that the HWT will be terminated and those plans
will be discontinued.

The present value of the benefits that will share pro rata in the
HWT funds will also be calculated pursuant to the assumptions in
the Mercer report.

Under the proposed process, there will be no payment from the HWT
on account of any conversion privilege relating to the group life
insurance benefit or optional life insurance program .

In connection with the allocation of the HWT funds, Nortel also
asks the Canadian Court to authorize (i) Northern Trust Company
to oversee the distribution of funds, and (ii) payment from the
HWT funds of the costs that will be incurred by the trustee.

Nortel also seeks Canadian Court approval of the retention of
Sack Goldblatt Mitchell LLP and Lerners LLP to represent the LTD
beneficiaries and the former employees, respectively.

Ernst & Young Inc., the firm appointed to monitor the assets of
Nortel and its affiliates, recommends approval of the proposed
funds allocation process.  In its 51st monitor report, E&Y
describes the process as "the most equitable, reasonable and
practical approach to the distribution of the HWT funds,
balancing the interests of the beneficiaries."

                       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)


OCEAN BANK: Fla. Bank Rated E+ by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E+ rating to Miami, Fla.-based
Ocean Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $3,882,907,000 in assets.


OCEANSIDE BANK: Fla. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Jacksonville Beach,
Fla.-based Oceanside Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$285,722,000 in assets.


OGLETHORPE BANK: Ga. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Brunswick, Ga.-based
Oglethorpe Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $251,151,000 in assets.


OHIO STATE BANK: Ohio Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Marion, Ohio-based
Ohio State Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $140,763,000 in assets.


OLD HARBOR: Fla. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Clearwater, Fla.-based
Old Harbor Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $243,039,000 in assets.


ONEUNITED BANK: Mass. Bank Rated E by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E rating to Boston, Mass.-based
Oneunited Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $532,163,000 in assets.


OPTIMUMBANK: Fla. Bank Rated E by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E rating to Fort Lauderdale, Fla.-
based Optimumbank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $217,450,000 in assets.


OSAGE EXPLORATION: Appoints Larry Ray to Board of Directors
-----------------------------------------------------------
Osage Exploration and Development Inc. said Larry Ray was
appointed on Sept. 2, 2010, to the Board of Directors of the
Company.  Mr. Ray has over 35 years of experience in all phases of
international and domestic oil and gas production with both public
and private companies.

Since September 2007 he has been an independent oil and gas
investor and consultant.  Mr. Ray's previous experience includes
positions as President and Chief Operating Officer and interim
Chief Financial Officer of Seven Seas Petroleum, an exploration
and production company with primary operations in Colombia which
was listed on both the Toronto and American Stock Exchanges, and
President and Chief Operating Officer of The GHK Company, a large
independent oil and gas company based in the Mid-continent.

During his career Mr. Ray has been involved in drilling over 130
wells, constructing a 25,000 bopd production facility and 40 mile
pipeline, evaluating and bidding on more than $250 million in
properties and securing over $650 million in financing and farm-
out agreements.  Mr. Ray graduated with an MBA in Finance from
Eastern New Mexico University in 1971 after receiving a Batchelor
of Business Administration from the same institution in 1970.

He is a member of the Association of International Petroleum
Negotiators, the American Association of Professional Landmen, the
American Association of Petroleum Geologist and the Society of
Petroleum Engineers.  Mr. Ray will receive 500,000 shares of the
Company which shall vest as to 100% on September 2, 2010

On Sept. 2, 2010, the Company entered into an employment agreement
with Greg Franklin to continue serving as Chief Geologist.

Mr. Franklin has been employed as Chief Geologist by the Company
since September 2007 under an employment agreement that ended
Nov. 30, 2009.  Mr. Franklin continued to be employed by the
company since then but did not have an employment agreement.  Mr.
Frankin has also served on the board of the Company since May
2005.   From March 1999 to February 2005 Mr. Franklin was a staff
geologist for Barbour Energy.  Mr. Franklin's previous experience
includes positions as Vice President for Gulf Coast Exploration
and Development Company and geologist with Conoco.  Mr. Franklin
graduated with a Bachelor of Science in Geology from Oklahoma
State University in 1980.

Mr. Franklin's employment agreement is for two years ending Nov.
30, 2012, with an annual base salary of $240,000.  Mr. Franklin
will receive 1,000,000 shares of the Company which shall vest as
to 100% on September 2, 2010.  Mr. Franklin could be eligible for
an annual bonus as determined by the Board of Directors.  In the
event that Mr. Franklin's employment is terminated for a Change
of Control, then he shall be eligible to receive, in one lump
payment, the greater of:

   i) annual base salary in effect immediately prior to the Change
      of Control and

  ii) the remaining base salary in effect immediately prior to the
      Change of control owed to Mr. Bradford until the end of the
      Employment Period.

A full-text copy of the employment agreement is available for free
at http://ResearchArchives.com/t/s?6afe

A full-text copy of the restricted stock agreement is available
for free at http://ResearchArchives.com/t/s?6aff

                      About Osage Exploration

Based in San Diego, California with production offices in Oklahoma
City, Oklahoma, and executive offices in Bogota, Colombia, Osage
Exploration and Development, Inc. (OTC BB: OEDV) --
http://www.osageexploration.com/-- is an independent exploration
and production company with interests in oil and gas wells and
prospects in the US and Colombia.

                           *     *     *

GPKM LLP of Encino, California, expressed substantial doubt about
Osage Exploration's ability to continue as a going concern
following the Company's 2009 results.  The firm reported that the
Company has suffered recurring losses from operations and has an
accumulated deficit as of December 31, 2009.


OTTER TAIL: Posts $852,639 Net Loss in June 30 Quarter
------------------------------------------------------
Otter Tail Ag Enterprises, LLC, filed its quarterly report on Form
10-Q, reporting a net loss of $852,639 on $22.9 million of
revenue for the three months ended June 30, 2010, compared with a
net loss of $14.8 million on $24.0 million of revenue for the
three months ended June 30, 2009.

The decrease in revenues was due to a lower price received for the
Company's ethanol production.

The Company recorded an impairment on plant and process equipment
of $12.5 million in the 2009 period.  No impairment was recorded
for the quarter ending June 30, 2010.

The Company's balance sheet as of June 30, 2010, showed
$102.6 million in total assets, $86.1 million in total
liabilities, and members' equity of 16.5 million.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6af2

                         About Otter Tail

Based in Fergus Falls, Minnesota, Otter Tail AG Enterprises, LLC
-- http://www.ottertailethanol.com/-- owns and operates a
nameplate capacity 55 million gallon annual production plant of
undenatured ethanol in Fergus Falls, Minnesota.  The Company
processes approximately 20 million bushels of corn into
approximately 55 million gallons of ethanol each year.  In
addition, the Company sells distillers grains, a principal co-
product of the ethanol production process.

The Company filed for Chapter 11 protection on Oct. 30, 2009
(Bankr. D. Minn. Case No. 09-61250).  In its schedules, the Debtor
disclosed assets of $66.4 million against $86 million in debt,
nearly all secured.  The largest secured creditor is AgStar
Financial Services, owed $40.9 million.

The Company filed its initial Chapter 11 Plan on February 25,
2010.  A Second Amended Chapter 11 Plan was filed on June 11,
2010.  As reported in the Troubled Company Reporter on
September 1, 2010, the Company has until Oct. 6, 2010, to raise
$12 million worth of capital or face liquidation to resolve its
debt problems.  The Company raised 75% of the total amount on the
original August 18, 2010 deadline.  The Company in now seeking
institutional investors in order to raise capital and avoid having
its production plant go up for auction.


OWENS-ILLINOIS: Fitch Affirms IDR at 'BB'
-----------------------------------------
Fitch Ratings has affirmed Owens-Illinois Inc.'s (Owens; NYSE: OI)
Issuer Default Rating and debt ratings:

Owens-Illinois, Inc.:
  -- IDR at 'BB';
  -- Senior unsecured notes at 'BB-'.

Owens Brockway Glass Container Inc.
  -- IDR at 'BB';
  -- Senior secured credit facilities at 'BBB-';
  -- Senior unsecured notes at 'BB+'.

OI European Group, B.V.
  -- Senior secured credit facility at 'BBB-';
  -- Senior unsecured notes to 'BB+'.

In addition, Fitch has assigned a 'BB+' rating to OI European
Group, B.V. offering of EUR500 million of unsecured senior notes
due 2020.  OI intends to use the net proceeds received from this
offering to repay $230 million borrowed under their revolving
credit facility, which was used to fund, together with cash on
hand, the acquisition of Companhia Industrial de Vidros.  The
Rating Outlook is Stable.

The rating actions reflect OI's announcement that the company has
closed a $600 million acquisition of Brazilian glassmaker CIV.
CIV operates three plants in northeast Brazil and generates
approximately $200 million in net sales.  Fitch believes the
acquisition is a good strategic expansion in an attractive
emerging market with above-average margins.  This acquisition
should allow OI to capture additional growth, which can further
offset some volume related pressure in other regions.

However, the expected debt financing materially increases leverage
with pro forma debt-to-EBITDA expected to rise to 3.0 times (x) by
the end of 2010.  While this increased leverage is largely in line
with Fitch's expectations for 2010 due to OI's anticipated focus
on acquisitions, Fitch now is concerned that leverage could remain
in the upper 2x range through 2011 as global economic conditions
in some areas could likely remain at depressed levels.  Thus,
Fitch believes OI has materially limited its flexibility at its
current rating level, particularly for any further sizeable debt-
financed transactions.

Offsets to the above concerns include OI's leading global market
positions; improved cost structure and price discipline;
technology leadership; and long-term customer relationships with
large, stable customers.  This has resulted in stable margins in
the upper-teens range through a significant global recession.
OI's aggressive strategy with its footprint rationalization has
also significantly reduced fixed costs and resulted in improved
asset utilization and profitability.  Consequently, OI was in a
much better cost position to manage the macroeconomic downturn
which led to a decline in volume of approximately 10% during 2009.
The company also expects to realize up to an additional
$80 million in cost savings from its footprint realignment in
2010.  General trends and visibility in volume outlook are
improved from a year ago in most regions except for Eastern Europe
and in North America, where the company chose not to pursue lower
margin or unprofitable business.  OI expects global volumes should
be up in all regions for the full year, excluding the impact of
renegotiated contracts in North America.  With at least modest
improvements in aggregate volume outside of North America, Fitch
expects improved earnings and cash generation from the operations
during 2010.  Free cash flow (FCF) will be lower in 2010, in the
$125 million to $200 million range, in part due to increased
capital spending and costs related to restructuring.  Fitch
expects these costs to be much lower in 2011, which could increase
discretionary FCF to the upper $200 million range.

Since Fitch already believes the company is considered weak for
its current rating category, if the company engages in additional
debt leveraging transactions and/or experiences a renewed weakness
in global volumes that materially affects OI's cash generation,
the Outlook and/or ratings could be lowered.  Nevertheless, given
the cyclicality and the significant operating leverage in the
business, longer-term expectations are that OI will return to
stronger credit metrics as global volumes increase, although
timing is uncertain.

OI's liquidity is good, in excess of $1.4 billion for the end of
second-quarter 2010, including $725 million in availability under
its $900 million senior secured first lien revolving credit
facility due June 2012 and $682 million of cash.  In May 2010,
Owens-Brockway Glass Container Inc. issued exchangeable senior
notes due 2015 with a face value of $690 million.  The proceeds
were used to repurchase $55 million of common stock, repayments of
approximately $490 million of debt due in 2010 and 2013,
acquisitions, and general corporate purposes.  In addition, OI has
other sources of liquidity including EUR300 million European A/R
securitization program and uncommitted bank lines.  The A/R
program extends through October 2011, subject to annual renewal of
backup credit lines.  The company also participates in a
receivables financing program in the Asia-Pacific region with a
revolving funding commitment of NZD10 million, which expires
November 2010.  At the end of second-quarter 2010, OI had
$234 million outstanding under its A/R securitization programs.

OI has minimal maturity requirements remaining in 2010, and
approximately $108 million of amortization requirements with OI's
bank debt in 2011. The earliest material debt maturity is two
tranches of OI's bank term loan for $219 million in 2012.  The
remaining term loan debt is due in 2013 for approximately
$417 million.  The proposed debt offering will increase OI's mix
of foreign debt and tax-related benefits given that 42% of the
company's revenues are generated by its European operations.

Cash requirements of the business include asbestos and pension
costs.  Fitch currently views the asbestos liability as being a
material obligation to the company, but the risk from additional
asbestos litigation should continue to decline over time.
Asbestos payments in 2009 were $190 million, a 10% decline from a
year ago.  OI prefunded a portion of its 2010 pension payments in
2009 with total contributions of approximately $123 million.  The
company expects to contribute $70 million to $80 million to its
international plans.  OI's pension deficit decreased to
$518 million on an obligation of $3.8 billion in 2009, compared
with a deficit of $729 million a year earlier.

The key rating drivers for OI remain (1) event risk from
additional acquisitions, (2) global recovery in volume driving
significant operating leverage, (3) longer-term expected
improvements in credit metrics especially debt-to-EBITDA leverage,
and (4) sustained levels of free cash flow.


OXFORD BANK: Mich. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Oxford, Mich.-based
Oxford Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $317,498,000 in assets.


P&C POULTRY: Gets Court's Interim Nod to Use Cash Collateral
------------------------------------------------------------
P&C Poultry Distributors, Inc., sought and obtained authorization
from the U.S. Bankruptcy Court for the Central District of
California to use cash collateral of East West Bank until
5:00 p.m., Pacific Standard Time on September 16, 2010.

The Bank extended a commercial term loan and revolving line of
credit in July 2006 to the Debtor.  Currently, there is
approximately $5,513,371 owed on account of the line of credit
loan and approximately $3,310,846 owed on account of the term
loan.

Brian L. Davidoff, Esq., at Rutter Hobbs & Davidoff Incorporated,
explained that the Debtor needs to use the cash collateral to fund
its Chapter 11 case, pay suppliers and other parties.  The Debtor
will use the collateral pursuant to a budget, a copy of which is
available for free at:

          http://bankrupt.com/misc/P&C_POULTRY_budget.pdf

In exchange for using the cash collateral, the Debtor will grant
the Bank replacement security interests and liens in the same type
of property on which the Bank enjoyed security interests and lien
in immediately prior to the Petition Date.

                      East West Bank Objects

The Bank has objected to the Debtor's request to use cash
collateral, saying that it has lost all confidence in the Debtor
due to: (i) diversion of cash collections ($817,920.30) required
to be remitted to the Bank's lockbox; (ii) precipitous drop in
inventory from $6 million to $1 million in a span of several
weeks without meaningful conversion to accounts receivable;
(iii) misrepresentation of a sale ($949,962) inducing the Bank to
advance funds resulting in a greater overadvance; (iv) substantial
losses from sales ($3,837,670 in July 2010 and additional losses
in August 2010); and (v) unreliable reporting and forecasting.
The Bank believes that the Debtor has no ability to reorganize and
should be prohibited from using cash collateral.

The Court has set a hearing to consider final approval of the cash
collateral use on September 16, 2010, at 11 a.m.

                         About P&C Poultry

City of Industry, California-based P&C Poultry Distributors, Inc.,
and its affiliate Custom processors, Inc., are a further processes
and distributes processed poultry products operating out of a
U.S.D.A.-certified facility in the City of Industry, California.
P&C produces value-added frozen and fresh poultry products for re-
sale to major fast food restaurant chains and casual dining
services, including CKE Restaurants, Inc. (Carl's Jr., Hardee's),
Yum! Brands, Inc. (KFC, Taco Bell), the Carlson Companies (Pickup
Stix, T.G.I. Friday's) and Daphne's Greek Cafe.

P&C filed for Chapter 11 bankruptcy protection on August 27, 2010
(Bankr. C.D. Calif. Case No. 10-46350).  Brian L. Davidoff, Esq.,
who has an office in Century City, California, assists the Debtor
in its restructuring effort.  The Debtor estimated its assets and
debts at $10 million to $50 million.

Affiliate Custom Processors Inc. filed a separate Chapter 11
petition on August 27, 2010.


P&C POULTRY: Section 341(a) Meeting Scheduled for Oct. 18
---------------------------------------------------------
The U.S. Trustee for Region 16 will convene a meeting of P&C
Poultry Distributors, Inc.'s creditors on October 18, 2010, at
10:00 a.m.  The meeting will be held at 725 S Figueroa Street,
Room 2612, Los Angeles, CA 90017.

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.

                         About P&C Poultry

City of Industry, California-based P&C Poultry Distributors, Inc.,
and its affiliate Custom processors, Inc., are a further processes
and distributes processed poultry products operating out of a
U.S.D.A.-certified facility in the City of Industry, California.
P&C produces value-added frozen and fresh poultry products for re-
sale to major fast food restaurant chains and casual dining
services, including CKE Restaurants, Inc. (Carl's Jr., Hardee's),
Yum! Brands, Inc. (KFC, Taco Bell), the Carlson Companies (Pickup
Stix, T.G.I. Friday's) and Daphne's Greek Cafe.

P&C filed for Chapter 11 bankruptcy protection on August 27, 2010
(Bankr. C.D. Calif. Case No. 10-46350).  Brian L. Davidoff, Esq.,
who has an office in Century City, California, assists the Debtor
in its restructuring effort.  The Debtor estimated its assets and
debts at $10 million to $50 million.

Affiliate Custom Processors Inc. filed a separate Chapter 11
petition on August 27, 2010.


PACIFIC CAPITAL: Calif. Bank Rated E by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E rating to Santa Barbara, Calif.-
based Pacific Capital Bank NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$7,356,997,000 in assets.


PACIFIC RIM: Hawaii Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Honolulu, Hawaii-based
Pacific Rim Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $128,981,000 in assets.


PACIFIC WEST: Ore. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to West Linn, Ore.-based
Pacific West Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $73,697,000 in assets.


PALM BANK: Fla. Bank Rated E+ by Weiss Ratings
----------------------------------------------
Weiss Ratings has assigned its E+ rating to Tampa, Fla.-based Palm
Bank.  The rating company says that the institution currently
demonstrates what it considers to be significant weaknesses and
has also failed some of the basic tests it uses to identify fiscal
stability.  "Even in a favorable economic environment," Weiss
says, "it is our opinion that depositors or creditors could incur
significant risks."  As of March 31, 2010, the institution's
balance sheet showed $159,575,000 in assets.


PALM DESERT: Calif. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Palm Desert, Calif.-
based Palm Desert National Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$264,791,000 in assets.


PALMETTO BANK: S.C. Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Greenville, S.C.-based
Palmetto Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $1,348,168,000 in assets.


PARAMOUNT BANK: Mich. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Farmington Hills,
Mich.-based Paramount Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$282,699,000 in assets.


PARK AVENUE: Ga. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Valdosta, Ga.-based
Park Avenue Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $1,249,756,000 in assets.


PARK STATE BANK: Minn. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Duluth, Minn.-based
Park State Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $32,692,000 in assets.


PARKWAY BANK: N.C. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Lenoir, N.C.-based
Parkway Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $118,697,000 in assets.


PATRIOT BANK: Iowa Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Brooklyn, Iowa-based
Patriot Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $68,141,000 in assets.


PATRIOT BANK: Fla. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Trinity, Fla.-based
Patriot Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $126,727,000 in assets.


PATRIOT BANK: Ga. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Cumming, Ga.-based
Patriot Bank of Georgia.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$174,087,000 in assets.


PATRIOT NATIONAL: Conn. Bank Rated E- by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E- rating to Stamford, Conn.-based
Patriot National Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$814,330,000 in assets.


PATTERSON BANK: Ga. Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Patterson, Ga.-based
Patterson Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $165,016,000 in assets.


PEACH STATE: Ga. Bank Rated E+ by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E+ rating to Gainesville, Ga.-based
Peach State Bank & Trust.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$176,819,000 in assets.


PEOPLES BANK: Va. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Ewing, Va.-based
Peoples Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $100,423,000 in assets.


PEOPLES BANK: Ga. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Conyers, Ga.-based
Peoples Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $160,432,000 in assets.


PEOPLES BANK: Ga. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Winder, Ga.-based
Peoples Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $467,629,000 in assets.


PEOPLES BANK: Ga. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Buford, Ga.-based
Peoples Bank & Trust.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$386,957,000 in assets.


PEOPLES STATE: Mich. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Hamtramck, Mich.-based
Peoples State Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $458,163,000 in assets.


PETROS ANDRIOPOULOS: Section 341(a) Meeting Scheduled for Oct. 6
----------------------------------------------------------------
The U.S. Trustee for Region 11 will convene a meeting of Petros E.
Andriopoulos' creditors on October 6, 2010, at 1:30 p.m.  The
meeting will be held at 219 South Dearborn, Office of the U.S.
Trustee, 8th Floor, Room 802, 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.

Aurora, Illinois-based Petros E. Andriopoulos filed for Chapter 11
bankruptcy protection on September 1, 2010 (Bankr. N.D. Ill. Case
No. 10-39482).  Michael J. Davis, Esq., at Springer, Brown, Covey,
Gaetner & Davis, assists the Debtor in its restructuring effort.
According to its schedules, the Debtor disclosed $19,803,050 in
total assets and $12,500,854 in total liabilities as of the
Petition Date.


PHARMOS CORPORATION: Posts $432,000 Net Loss in June 30 Quarter
---------------------------------------------------------------
Pharmos Corporation filed its quarterly report on Form 10-Q,
reporting a net loss of $431,979 for the three months ended
June 30, 2010, compared with a net loss of $2.25 million for the
same period of 2009.

The Company had an accumulated deficit of $210.73 million at
June 30, 2010, and expects to continue to incur losses going
forward.

The Company's balance sheet as of June 30, 2010, showed
$3.67 million in total assets, $1.18 million in total liabilities,
and stockholders' equity of $2.49 million.

As reported in the Troubled Company Reporter on March 3, 2010,
PricewaterhouseCoopers LLP, in New York, expressed substantial
doubt about the Company's ability to continue as a going concern,
following its 2009 results.  The independent auditors noted of the
Company's recurring losses from operations and accumulated
deficit of $209.8 million.

A full-text copy of the Form 10-Q is available for free at:

               http://researcharchives.com/t/s?6af7

                    About Pharmos Corporation

Iselin, New Jersey-based Pharmos Corporation is a
biopharmaceutical company that discovers and develops novel
therapeutics to treat a range of diseases of the nervous system,
including disorders of the brain-gut axis, with a focus on
pain/inflammation, and autoimmune disorders.  Dextofisopam is
Pharmos' lead product for diarrhea predominant irritable bowel
syndrome (IBS-d).


PIEDMONT BANK: Ga. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Lawrenceville, Ga.-
based Piedmont Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $316,169,000 in assets.


PIEDMONT COMMUNITY: Ga. Bank Rated E- by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E- rating to Gray, Ga.-based
Piedmont Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$238,465,000 in assets.


PIERCE COMMERCIAL: Wash. Bank Rated E- by Weiss Ratings
-------------------------------------------------------
Weiss Ratings has assigned its E- rating to Tacoma, Wash.-based
Pierce Commercial Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$258,131,000 in assets.


PILOT BANK: Fla. Bank Rated E by Weiss Ratings
----------------------------------------------
Weiss Ratings has assigned its E rating to Tampa, Fla.-based Pilot
Bank.  The rating company says that the institution currently
demonstrates what it considers to be significant weaknesses and
has also failed some of the basic tests it uses to identify fiscal
stability.  "Even in a favorable economic environment," Weiss
says, "it is our opinion that depositors or creditors could incur
significant risks."  As of March 31, 2010, the institution's
balance sheet showed $237,861,000 in assets.


PILSEN ST: Kan. Bank Rated E+ by Weiss Ratings
----------------------------------------------
Weiss Ratings has assigned its E+ rating to Lincolnville, Kan.-
based Pilsen St Bank Lincolnville KS.  The rating company says
that the institution currently demonstrates what it considers to
be significant weaknesses and has also failed some of the basic
tests it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $14,811,000
in assets.


PLANTATION FEDERAL: S.C. Bank Rated E- by Weiss Ratings
-------------------------------------------------------
Weiss Ratings has assigned its E- rating to Pawleys Island, S.C.-
based Plantation Federal Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$672,641,000 in assets.


PLANTATION, LLC: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: The Plantation, LLC
        c/o Robert Griffin
        1300 Griffin Road
        Greenwood, AR 72936-3302

Bankruptcy Case No.: 10-74742

Chapter 11 Petition Date: September 8, 2010

Court: U.S. Bankruptcy Court
       Western District of Arkansas (Fort Smith)

Debtor's Counsel: Derrick Mark Davidson, Esq.
                  DERRICK DAVIDSON, P.A.
                  3061 N. Market Avenue, Suite 8
                  Fayetteville, AR 72703
                  Tel: (479) 935-4100
                  Fax: (479) 856-6168
                  E-mail: derrick@davidsonbusinessattorney.com

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

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

The list of unsecured creditors filed together with its petition
does not contain any entry.

The petition was signed by Robert Griffin, manager.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Robert Griffin and Julia Griffin      10-73471            07/06/10


PLANTERSFIRST: Ga. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Cordele, Ga.-based
Plantersfirst.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $337,742,000 in assets.


POLK COUNTY: Iowa Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Johnston, Iowa-based
Polk County Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $121,644,000 in assets.


PREMIER BANK: Mo. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Jefferson City, Mo.-
based Premier Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $1,247,839,000 in assets.


PREMIER BANK: Fla. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Tallahassee, Fla.-
based Premier Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $422,656,000 in assets.


PREMIER BANK: Colo. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Denver, Colo.-based
Premier Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $71,537,000 in assets.


PREMIER BANK: Ohio Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to North Canton, Ohio-
based Premier Bank & Trust NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$170,673,000 in assets.


PREMIER BANK: Minn. Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Farmington, Minn.-based
Premier Bank Minnesota.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$198,704,000 in assets.


PREMIER BANK: Minn. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Rochester, Minn.-based
Premier Bank Rochester.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$156,185,000 in assets.


PRIME SECURITY: Minn. Bank Rated E+ by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E+ rating to Karlstad, Minn.-based
Prime Security Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $92,802,000 in assets.


PRINCEVILLE STATE: Ill. Bank Rated E+ by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E+ rating to Princeville, Ill.-
based Princeville State Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $68,642,000
in assets.


PROFESSIONAL BUSINESS: Calif. Bank Rated E- by Weiss Ratings
------------------------------------------------------------
Weiss Ratings has assigned its E- rating to Pasadena, Calif.-based
Professional Business Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$304,859,000 in assets.


PROGRESS BANK: Fla. Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Tampa, Fla.-based
Progress Bank of Florida.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$119,737,000 in assets.


PROGROWTH BANK: Minn. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Nicollet, Minn.-based
Progrowth Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $163,542,000 in assets.


PROSPER BANK: Tex. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Prosper, Tex.-based
Prosper Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $76,898,000 in assets.


PROSPERITY BANK: Fla. Bank Rated E+ by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E+ rating to Saint Augustine, Fla.-
based Prosperity Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$928,779,000 in assets.


PROVIDENCE BANK: Ga. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Alpharetta, Ga.-based
Providence Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $122,240,000 in assets.


PUTNAM STATE: Fla. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Palatka, Fla.-based
Putnam State Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $200,019,000 in assets.


RADIENT PHARMA: Shareholders Meeting Deferred Due to SEC Review
---------------------------------------------------------------
Radient Pharmaceuticals Corporation said it will reschedule its
annual shareholders' meeting originally scheduled on Aug. 31,
2010.

Due to the continuing Securities and Exchange Commission review of
the Company's proxy statement and periodic reports that the
Company is required to submit to its shareholders with the proxy
statement, the Company was unable to file and mail its definitive
proxy statement so as to give shareholders proper notice of the
Aug. 31, 2010 meeting date.

The Company filed its response to the SEC's most recent comment
letter on August 31, 2010 and continues to work diligently with
its outside securities counsel and independent auditors, as well
as communicating with the SEC reviewers handling these filings,
to re-schedule the meeting as soon as possible.  There is no
assurance that the SEC will clear the Company's filings after
reviewing the response and the SEC is entitled to issue additional
comments if it deems them necessary.  The Company said, "It will
continue to respond to any additional comments as quickly as
possible and will continue to do whatever we can to clear the
comments as soon as possible.  Due to the ongoing comment period
with the SEC, RPC management determined it was prudent to wait
until the Company is closer to clearing the comments before
setting a new meeting date.  Once a date has been determined RPC
will issue a press release announcing meeting details."

As a result of the Shareholders' meeting delay, the Company is not
in compliance with certain terms contained in the notes issued in
the financing it completed in March and April 2010.  The Company
is currently negotiating with such note holders to remediate this
issue.

Headquartered in Tustin, Calif., Radient Pharmaceuticals
Corporation -- http://www.Radient-Pharma.com/-- is engaged in the
research, development, manufacturing, sale and marketing of its
ONKO-SURE(TM) a proprietary IVD Cancer Test in the United States,
Canada, China, Chile, Europe, India, Korea, Taiwan, Vietnam and
other markets throughout the world.


RAVENSWOOD BANK: Ill. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Chicago, Ill.-based
Ravenswood Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $301,407,000 in assets.


REGAL FINANCIAL: Wash. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Seattle, Wash.-based
Regal Financial Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$144,086,000 in assets.


REGAL PLAZA: Files Schedules of Assets & Liabilities
----------------------------------------------------
Regal Plaza, LLC, has filed with the U.S. Bankruptcy Court for the
District of Nevada its schedules of assets and liabilities,
disclosing:

  Name of Schedule                        Assets       Liabilities
  ----------------                        ------       -----------
A. Real Property                       $10,777,000
B. Personal Property                       $38,564
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $7,445,306
E. Creditors Holding
   Unsecured Priority
   Claims                                                      $0
F. Creditors Holding
   Unsecured Non-priority
   Claims                                              $1,147,574
                                       -----------    -----------
   TOTAL                               $10,815,564     $8,592,879

Las Vegas, Nevada-based Regal Plaza, LLC, owns a shopping center
in Las Vegas, Nevada.  It filed for Chapter 11 bankruptcy
protection on September 1, 2010 (Bankr. D. Nev. Case No. 10-
26707).  Lenard E. Schwartzer, Esq., at Schwartzer & Mcpherson Law
Firm, assists the Debtor in its restructuring effort.


REGAL PLAZA: Section 341(a) Meeting Scheduled for Oct. 21
---------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of Regal
Plaza, LLC's creditors on October 21, 2010, at 2:00 p.m.  The
meeting will be held at 300 Las Vegas Boulevard, South, Room 1500,
Las Vegas, NV 89101.

This is the first meeting of creditors required under Section
341(a) of the 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.

Las Vegas, Nevada-based Regal Plaza, LLC, owns a shopping center
in Las Vegas, Nevada.  It filed for Chapter 11 bankruptcy
protection on September 1, 2010 (Bankr. D. Nev. Case No. 10-
26707).  Lenard E. Schwartzer, Esq., at Schwartzer & Mcpherson Law
Firm, assists the Debtor in its restructuring effort.  According
to its schedules, the Debtor disclosed $10,815,564 in total assets
and $8,592,879 in total liabilities as of the Petition Date.


REGAL PLAZA: Taps Schwartzer & McPherson as Bankruptcy Counsel
--------------------------------------------------------------
Regal Plaza LLC asks for authorization from the U.S. Bankruptcy
Court for the District of Nevada to employ Schwartzer & McPherson
Law Firm as bankruptcy counsel, nunc pro tunc to the Petition
Date.

Schwartzer & McPherson will represent the Debtor in its
restructuring effort.

The hourly rates of the Schwartzer & McPherson personnel are:

     Lenard E. Schwartzer                    $500
     Jeanette E. McPherson                   $450
     Jason A. Imes                           $300
     Lia Allen                               $150
     Angela Hosey                            $125
     Sheena Clow                             $100

Lenard E. Schwartzer, Esq., a partner at Schwartzer & McPherson,
assures the Court that the firm is a "disinterested person" as
that term is defined in Section 101(14) of the Bankruptcy Code.

Las Vegas, Nevada-based Regal Plaza, LLC, owns a shopping center
in Las Vegas, Nevada.  It filed for Chapter 11 bankruptcy
protection on September 1, 2010 (Bankr. D. Nev. Case No. 10-
26707).  In its schedules, the Debtor disclosed $10,815,564 in
total assets and $8,592,879 in total liabilities as of the
Petition Date.


RENOVA ENERGY: Must Sell Idaho Ethanol Plant by November 10
-----------------------------------------------------------
Holly Jessen at Ethanol Producer Magazine reports that Renova
Energy Idaho LLC has until Nov. 10, 2010, to find a buyer of its
20 MMgy ethanol plant in Heyburn, Idaho, otherwise the plant will
be sold in bits and pieces.

According to Ethanol Producer, this is the third announced ethanol
plant auction in three weeks.  Gateway Ethanol, a 100 MMgy ethanol
plant in Pratt, Kan., and Genesis Ethanol I, a 2 to 4 MMgy plant
in Parker, S.D., have separate auctions set for Sept. 24, 2010.

The deadline to acquire the Company's plant as a whole is two
weeks before November 10 sale.  Allison Guyton, director of
operations for Maas Companies Inc., was hired to auction the
Company's plant, says Mr. Jessen.

                       About Renova Energy

Renova Energy LLC operates an ethanol plant.

Renova Energy, together with  Wyoming Ethanol, filed for chapter
11 bankruptcy protection in June 2008 in Cheyenne, Wyoming (Bankr.
D. Wyo. Case No. 08-20346).  Wyoming Ethanol estimated $10 million
to $50 million in assets and liabilities in its Chapter 11
petition.


REPUBLIC FIRST: Pa. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Philadelphia, Pa.-
based Republic First Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$965,070,000 in assets.


RESERVE DEV'T: Files List of 20 Largest Unsecured Creditors
-----------------------------------------------------------
The Reserve Development LLC has filed with the U.S. Bankruptcy
Court for the District of Nevada a list of its 20 largest
unsecured creditors:

   Entity                                       Claim Amount
   ------                                       ------------
Resident Deposits Per Rent Roll
Spanish Palms
5250 S. Rainbow Boulevard
Las Vegas, NV 89118                                 $70,036

Ultimate Concrete
1814 Stabe Gate Avenue
Henderson, NV 89012                                 $14,843

Platinum Security, Inc.
1640 S. Sepulveda Boulevard
Los Angeles, CA 90025                               $10,752

Aguilar Lawn Service                                 $5,680

Criterion Supply, Inc.                               $5,395

Allen Temporary Staffing ATS                         $4,637

Quality Maids of Las Vegas, LLC                      $3,885

Ramirez Carpet and Floor Maintenance                 $2,869

Great American Business Products                     $2,826

Odyssey Painting Etc., Inc.                          $2,756

Certified Fire Protection, Inc.                      $2,291

Southern Nevada Health District                      $1,949

Western Door and Gate, LLC                           $1,587

HD Supply Facilities Maintenance                     $1,511

All City Glass, Inc.                                   $916

GE Appliances Contract                                 $784

The Phone Doctor                                       $670

Bahnna Battery                                         $501

Home Depot Credit Services                             $429

Western Sign and Flag                                  $423

The Reserve Development LLC, based in Las Vegas, Nevada, filed for
Chapter 11 bankruptcy protection on September 1, 2010 (Bankr. D.
Nev. Case No. 10-26715).  Laurel E. Davis, Esq., at Fennemore
Craig, P.C., assists the Debtor in its restructuring effort.  The
Debtor estimated its assets and debts at $10 million to
$50 million.


RESERVE DEV'T: Files Schedules of Assets & Liabilities
------------------------------------------------------
The Reserve Development LLC has filed with the U.S. Bankruptcy
Court for the District of Nevada its schedules of assets and
liabilities, disclosing:

  Name of Schedule                        Assets       Liabilities
  ----------------                        ------       -----------
A. Real Property                       $12,800,000
B. Personal Property                      $474,818
C. Property Claimed as
   Exempt
D. Creditors Holding
   Secured Claims                                      $25,707,567
E. Creditors Holding
   Unsecured Priority
   Claims                                                  $70,036
F. Creditors Holding
   Unsecured Non-priority
   Claims                                                  $65,275
                                       -----------     -----------
      TOTAL                            $13,274,818     $25,842,878

The Reserve Development LLC, based in Las Vegas, Nevada, filed for
Chapter 11 bankruptcy protection on September 1, 2010 (Bankr. D.
Nev. Case No. 10-26715).  Laurel E. Davis, Esq., at Fennemore
Craig, P.C., assists the Debtor in its restructuring effort.


RESERVE DEV'T: Section 341(a) Meeting Scheduled for Oct. 21
-----------------------------------------------------------
The U.S. Trustee for Region 17 will convene a meeting of The
Reserve Development LLC's creditors on October 21, 2010, at 3:00
p.m.  The meeting will be held at 300 Las Vegas Boulevard, South,
Room 1500, Las Vegas, NV 89101.

This is the first meeting of creditors required under Section
341(a) of the 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.

The Reserve Development LLC, based in Las Vegas, Nevada, filed for
Chapter 11 bankruptcy protection on September 1, 2010 (Bankr. D.
Nev. Case No. 10-26715).  Laurel E. Davis, Esq., at Fennemore
Craig, P.C., assists the Debtor in its restructuring effort.  The
Debtor estimated its assets and debts at $10 million to
$50 million.


RICHARD GREENLAND: Case Summary & 15 Largest Unsecured Creditors
----------------------------------------------------------------
Joint Debtors: Richard Kent Greenland
               Sandra Terrie Greenland
               18822 Thorn Crest Court
               Canyon Country, CA 91351

Bankruptcy Case No.: 10-48034

Chapter 11 Petition Date: September 7, 2010

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

Judge: Richard M. Neiter

Debtors' Counsel: Louis J. Esbin, Esq.
                  25129 The Old Road, Suite 114
                  Stevenson Ranch, CA 91318-2244
                  Tel: (661) 254-5050
                  Fax: (661) 254-5252
                  E-mail: Esbinlaw@sbcglobal.net

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

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

A list of the Joint Debtors' 15 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-48034.pdf


RIVERBANK: Minn. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Wyoming, Minn.-based
Riverbank.  The rating company says that the institution currently
demonstrates what it considers to be significant weaknesses and
has also failed some of the basic tests it uses to identify fiscal
stability.  "Even in a favorable economic environment," Weiss
says, "it is our opinion that depositors or creditors could incur
significant risks."  As of March 31, 2010, the institution's
balance sheet showed $471,584,000 in assets.


RIVERLAND BANK: Minn. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Jordan, Minn.-based
Riverland Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $51,068,000 in assets.


ROBERT PELTON: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Joint Debtors: Robert Lee Pelton
                 aka Bob Pelton
               Virginia Ann Pelton
               301 Delano Street
               Elverta, CA 95626

Bankruptcy Case No.: 10-43804

Chapter 11 Petition Date: September 7, 2010

Court: U.S. Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Michael S. McManus

Debtors' Counsel: Lance E. German, Esq.
                  6540 Stockton Boulevard, #4
                  Sacramento, CA 95823
                  Tel: (916) 231-9200

Scheduled Assets: $2,934,022

Scheduled Debts: $1,969,510

A list of the Joint Debtors' 20 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/caeb10-43804.pdf


ROCKY MOUNTAIN: Colo. Bank Rated E by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E rating to Florence, Colo.-based
Rocky Mountain Bank & Trust FL.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$163,218,000 in assets.


ROSEMOUNT NATIONAL: Minn. Bank Rated E- by Weiss Ratings
--------------------------------------------------------
Weiss Ratings has assigned its E- rating to Rosemount, Minn.-based
Rosemount National Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $38,807,000
in assets.


ROXBURY BANK: Kan. Bank Rated E+ by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E+ rating to Roxbury, Kan.-based
Roxbury Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $19,033,000 in assets.


RRI ENERGY: Fitch Keeps 'B'-Rated IDR on Watch Positive
-------------------------------------------------------
Fitch Ratings has maintained Rating Watch Positive on RRI Energy
Inc.  Its ratings on RRI are:

  -- Issuer Default Rating (IDR) at 'B';
  -- Senior secured debt at 'BB/RR1';
  -- Senior unsecured debt at 'B+/RR3';
  -- Short-term IDR at 'B'.

The ratings were originally placed on Rating Watch Positive on
April 12, 2010, following the announcement of a stock-for-stock
merger with Mirant Corp. (MIR; Fitch IDR of 'B+', with a Stable
Outlook).  No ratings actions have been taken on MIR's ratings and
Outlook.

On April 11, 2010, RRI and MIR announced that they have entered
into a definitive agreement to create GenOn Energy in a deal
structured as an all-stock, tax-free merger.  Under the terms of
the merger agreement MIR shareholders will receive a fixed ratio
of 2.835 shares of RRI stock for each share of MIR common stock
they own.  Following the close of transaction MIR will own
approximately 54% of the equity of the combined company and RRI
Energy stockholders will own approximately 46%.  As a combined
entity, GenOn will have approximately 24,700 megawatts (MW) of
electric generating capacity and a pro forma market capitalization
of $3.1 billion.  The transaction is subject to customary closing
conditions, including approval by the stockholders of RRI and MIR,
U.S. antitrust approval, and approval, already received, by the
Federal Energy Regulatory Commission and the New York State Public
Service Commission.

RRI's ratings continue to reflect the challenging competitive
generation environment Fitch expects for 2010 and 2011, tempered
by steps taken by RRI to improve its balance sheet and hedge a
portion of its commodity exposure.  Fitch believes RRI's liquidity
position remains adequate and that its business risk profile
should improve, albeit slightly, following the closing of RRI's
merger with MIR.

Fitch's concerns include the significant leverage and weak credit
metrics at RRI and the generally poor operating environment for
competitive generators, particularly those with significant
concentrations of coal-fired generation. The ratings consider that
any upside performance at RRI going forward is going to be
strongly correlated to economic recovery and a return of power
demand growth.  In addition, RRI has significant exposure to
potential legislation and there remains a high degree of
uncertainty surrounding the possibility of Federal carbon
legislation and the form and cost of any possible EPA regulation.

In association with the merger, GenOn plans on issuing
approximately $2.9 billion in new debt to replace:

  -- $279 million in RRI secured bonds due 2014 (rated 'BB/RR1');

  -- $371 million in Pennsylvania Economic Development Financing
     Authority (PEDFA) Reliant Energy Seward, LLC Project secured
     notes due 2036 (rated 'BB/RR1').

  -- $500 million senior secured revolver due 2012 (rated
     'BB/RR1') and;

  -- $250 million letter of credit facility due 2014 (rated
     'BB/RR1');

  -- $307 million in Mirant North America (MNA) senior secured
     term loan due 2013 ('BB/RR1');

  -- $850 million in MNA 7.375% senior notes due 2013 (rated 'BB-
     /RR1');

  -- $755 million MNA revolving credit facility due 2012.

Remaining RRI debt will consist of its Reliant Energy Mid Atlantic
lease obligations, as well as its:

  -- $575 million unsecured notes due 2014 (rated 'B+/RR3') and;
  -- $725 million unsecured notes due 2017 (rated 'B+/RR3').

Maintaining the continued Positive Rating Watch is indicative of
Fitch's expectation that the merger will provide RRI with
increased scale, access to an improved balance sheet, particularly
Mirant's large cash balances, which are expected to remain above
$2 billion, and increased operating efficiencies and higher
recovery values for its legacy senior unsecured debt given the
increased generating capacity. Following merger close Fitch
expects to rate RRI's remaining unsecured notes, which are
expected to be pari passu to a GenOn expected offering of
$1.4 billion in senior unsecured notes rated 'BB-/RR1' due to the
enhanced recovery prospects driven by the larger generation
portfolio.  Fitch notes, however, that any further rating action
on RRI will be driven by the final details and closure of the
merger transaction.

GenOn Energy is anticipated to enter into $2.9 billion in new
financings to be used in connection with the proposed merger of
RRI and MIR.  Fitch expects to assign ratings to GenOn Energy and
its proposed offerings as follows:

  -- IDR of 'B';

  -- $1 billion senior secured revolving credit facility at
     'BB/RR1';

  -- $500 million senior secured term loan facility at 'BB/RR1';

  -- $1.4 billion in senior unsecured notes at 'BB-/RR1'.

Fitch's expected ratings of GenOn reflect the impact of increased
collateral at the security level and the financial benefits of
easily achievable synergies on the combined company's forecasted
performance.  The primary credit benefit of the merger transaction
is the likely achievement of operating efficiency and cost savings
projected by the management of both companies (estimated at
$150 million per annum to be fully realized by 2012, following a
restructuring charge of roughly $125 million spread over the next
two years).  Meanwhile, doubling the size of the generation
portfolio by merging the two companies will result in a more
efficient scale of operations, without materially altering the
profile of the generating fleet.  Additionally, both entities will
bring to the merger high cash liquidity which the combined
organization will have available to deal with debt maturities and
future commodity market price fluctuation.  The combined cash
balance of the companies as of Dec. 31, 2009, was $2.9 billion.
Fitch expects a greater focus on hedging and capacity contracts in
an effort to ensure a predictable cash flow stream more in line
with Mirant's past practices, which have focused on hedging on a
rolling four- to five-year basis on both its power and fuel.

Mirroring the credit concerns facing both MIR and RRI, GenOn will
continue to face ongoing challenges with weak wholesale power
prices, environmental rules and compliance costs, and managing
commodity price volatility. As with the other merchant generators,
Fitch believes GenOn will be faced with a weak operating
environment, which will limit upside performance in the near to
medium term.  GenOn's performance longer term is going to be
strongly correlated to economic recovery and a meaningful return
of power demand growth.  Fitch believes that GenOn's hedging
program will moderate earnings and cash flow volatility, but
power-price forward curves indicate continued margin pressure for
coal-fired generators such as GenOn.  Should natural gas prices
remain near current levels of $4 per billion cubic feet (Bcf),
power prices will likely remain low, pressuring GenOn's operating
margins and credit metrics.  Additionally there remains a high
degree of uncertainty surrounding Federal carbon legislation and
the form and cost of EPA regulation of greenhouse gas emission,
coal ash disposal, waste management, etc., which could have
significant financial impact given GenOn's generation portfolio's
composition, which is more heavily weighted toward coal-fired
generation.


SAEHAN BANK: Calif. Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Los Angeles, Calif.-
based Saehan Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $649,274,000 in assets.


SAIGON NATIONAL: Calif. Bank Rated E by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E rating to Westminster, Calif.-
based Saigon National Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $70,449,000
in assets.


SAINT VINCENT: Can Sell Certain CHAA Assets to North Shore
----------------------------------------------------------
The Hon. Cecelia G. Morris of the U.S. Bankruptcy Court for the
Southern District of California authorized Saint Vincent Catholic
Medical Centers of New York, et al. to sell certain assets related
their certified home health agency to North Shore University
Hospital, a New York not-for-profit corporation.

Village Center for Care is the back-up bidder for the assets.

The Debtors are directed to remit the net sale proceeds to the
prepetition agent on account of the prepetition obligations.

                            About SVCMC

Saint Vincents Catholic Medical Centers -- http://www.svcmc.org/
-- was anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates first filed for Chapter 11 protection on July 5, 2005
(Bankr. S.D.N.Y. Case No. 05-14945 through 05-14951).

St. Vincents Catholic Medical Centers returned to bankruptcy court
by filing another Chapter 11 petition (Bankr. S.D.N.Y. Case No.
10-11963) on April 14, 2010.  The Debtor estimated assets of
$348 million against debts totaling $1.09 billion in the new
petition.

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have "a realistic chance"
of paying all creditors in full, the bankruptcy left the medical
center with more than $1 billion in debt.  The new filing occurred
after a $64 million operating loss in 2009 and the last potential
buyer terminated discussions for taking over the flagship
hospital.

Adam C. Rogoff, Esq., and Kenneth H. Eckstein, Esq., at Kramer
Levin Naftalis & Frankel LLP, represent the Debtor in its Chapter
11 effort.


SAINT VINCENT: Creditors' Claims Bar Date Set for October 12
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of California
has established October 12, 2010, at 5:00 p.m. (prevailing Eastern
Time) as the deadline for any individual or entity to file proofs
of claim against Saint Vincent Catholic Medical Centers of New
York, et al.

Proofs of claim must be filed with the Debtors' claims agent:

if by first class mail:

     Saint Vincents Catholic Medical Centers of New York (2010) -
     Claims Processing Center
     c/o Epiq Bankruptcy Solutions, LLC
     Grand Central Station
     P.O. Box 4834
     New York, NY 10163-4834

if by hand delivery or overnight mail to:

     Saint Vincents Catholic Medical Centers of New York (2010) -
     Claims Processing Center
     c/o Epiq Bankruptcy Solutions, LLC
     757 Third Avenue, 3rd Floor
     New York, NY 10017

                            About SVCMC

Saint Vincents Catholic Medical Centers -- http://www.svcmc.org/
-- was anchored by St. Vincent's Hospital Manhattan, an academic
medical center located in Greenwich Village and the only emergency
room on the Westside of Manhattan from Midtown to Tribeca, St.
Vincent's Westchester, a behavioral health hospital in Westchester
County, and continuing care services that include two skilled
nursing facilities in Brooklyn, another on Staten Island, a
hospice, and a home health agency serving the Metropolitan New
York area.

Saint Vincent Catholic Medical Centers of New York and six of its
affiliates first filed for Chapter 11 protection on July 5, 2005
(Bankr. S.D.N.Y. Case No. 05-14945 through 05-14951).

St. Vincents Catholic Medical Centers returned to bankruptcy court
by filing another Chapter 11 petition (Bankr. S.D.N.Y. Case No.
10-11963) on April 14, 2010.  The Debtor estimated assets of
$348 million against debts totaling $1.09 billion in the new
petition.

Although the hospitals emerged from the prior reorganization in
July 2007 with a Chapter 11 plan said to have "a realistic chance"
of paying all creditors in full, the bankruptcy left the medical
center with more than $1 billion in debt.  The new filing occurred
after a $64 million operating loss in 2009 and the last potential
buyer terminated discussions for taking over the flagship
hospital.

Adam C. Rogoff, Esq., and Kenneth H. Eckstein, Esq., at Kramer
Levin Naftalis & Frankel LLP, represent the Debtor in its Chapter
11 effort.


SAN LUIS TRUST: Calif. Bank Rated E+ by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E+ rating to San Luis Obispo,
Calif.-based San Luis Trust Bank FSB.  The rating company says
that the institution currently demonstrates what it considers to
be significant weaknesses and has also failed some of the basic
tests it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$327,073,000 in assets.


SAVANNA-THOMSON: Ill. Bank Rated E by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E rating to Savanna, Ill.-based
Savanna-Thomson State Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $87,357,000
in assets.


SAVINGS BANK: Maine Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Gardiner, Maine-based
Savings Bank of Maine.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$929,139,000 in assets.


SCHUTT SPORTS: Organizational Meeting to Form Panel on Sept. 16
---------------------------------------------------------------
Roberta A. DeAngelis, Acting United States Trustee for Region 3,
will hold an organizational meeting on September 16, 2010, at
1:00 p.m. in the bankruptcy case of Schutt Sports, Inc., et al.
The meeting will be held at J. Caleb Boggs Federal Building, 844
King Street, Room 2112, Wilmington, DE 19801.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

Headquartered in Litchfield, Illinois, Schutt Sports, Inc. -- fka
Schutt Manufacturing Company, Schutt Sports Manufacturing Co.,
Schutt Sports Distribution Company, and Schutt Athletic Sales
Company -- and its affiliates manufacture team sporting equipment,
primarily for football, baseball and softball.

Schutt Sports filed for Chapter 11 bankruptcy protection on
September 6, 2010 (Bankr. D. Del. Case No. 10-12795).  Victoria
Watson Counihan, Esq., at Greenberg Traurig, LLP, assists the
Debtor in its restructuring effort.  Ernst & Young is the Debtor's
financial advisor.  Oppenheimer & Co., Inc., is the Debtor's
investment banker.

The Debtor estimated is assets and debts at $50 million to
$100 million.


SCHUTT SPORTS: Court Approves $34 Million DIP Financing
-------------------------------------------------------
Dow Jones' DBR Small Cap reports that Schutt Sports Inc. won court
approval of several requests vital to the Company's ability to
continue operating under Chapter 11 protection, including
permission to tap a $34 million bankruptcy loan.  According to
DBR, court papers show that Judge Kevin J. Carey of the U.S.
Bankruptcy Court in Wilmington, Del., on Wednesday granted interim
approval of the financing agreement with Schutt's existing
lenders, a group led by Bank of America Corp. Schutt is due back
in court Sept. 22 to seek permission to draw the full amount of
the loan.  Also on Wednesday, Judge Carey cleared Schutt to
continue paying its employees, maintain its insurance policies,
and honor customer obligations and programs.  The requests
accompanied the Chapter 11 bankruptcy petition Schutt filed Monday
during a legal battle with rival athletic-gear maker Riddell Inc.,
which has accused Schutt of patent infringement.  Schutt denies
the allegations.

                        About Schutt Sports

Litchfield, Illinois-based Schutt Sports, Inc., fka Schutt
Manufacturing Company aka Schutt Sports Manufacturing Co., Schutt
Sports Distribution Company, Schutt Athletic Sales Company, is an
athletic-gear maker.  The Company and five affiliates filed for
Chapter 11 bankruptcy protection (Bankr. D. Del. Case No.
10-12795) on September 6, 2010.  Victoria Watson Counihan, Esq.,
at Greenberg Traurig, LLP, in Wilmington, serves as the Debtors'
counsel.  Ernst & Young serves as the Debtors' financial advisors.
Oppenheimer & Co., Inc., serves as the Debtors' investment banker.
In its petition, Schutt Sports estimated $50 million to $100
million in assets and debts.


SEATTLE BANK: Wash. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Seattle, Wash.-based
Seattle Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $554,877,000 in assets.


SECOND FS&LA: Ill. Bank Rated E+ by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E+ rating to Chicago, Ill.-based
Second FS&LA of Chicago.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$226,817,000 in assets.


SECURANT BANK: Wisc. Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to Milwaukee, Wisc.-based
Securant Bank & Trust.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$259,156,000 in assets.


SECURITY BANK: Fla. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to North Lauderdale,
Fla.-based Security Bank NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$160,281,000 in assets.


SECURITY EXCHANGE: Ga. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Marietta, Ga.-based
Security Exchange Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$184,439,000 in assets.


SECURITY SAVINGS: Kan. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Olathe, Kan.-based
Security Savings Bank FSB.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$536,140,000 in assets.


SECURITY STATE: Minn. Bank Rated E by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E rating to Kenyon, Minn.-based
Security State Bank of Kenyon.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $56,946,000
in assets.


SECURITY STATE: Minn. Bank Rated E+ by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E+ rating to Lewiston, Minn.-based
Security State Bank of Lewiston.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $68,444,000
in assets.


SELECT BANK: Mich. Bank Rated E+ by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E+ rating to Grand Rapids, Mich.-
based Select Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $89,188,000 in assets.


SHOREBANK PACIFIC: Wash. Bank Rated E+ by Weiss Ratings
-------------------------------------------------------
Weiss Ratings has assigned its E+ rating to Ilwaco, Wash.-based
Shorebank Pacific.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $218,190,000 in assets.


SHORELINE BANK: Wash. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Shoreline, Wash.-based
Shoreline Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $109,733,000 in assets.


SHUBH HOTELS: Lender Seeks Stay Relief to Foreclose on Property
---------------------------------------------------------------
Dow Jones' DBR Small Cap reports that the mortgage lender owed
nearly $49.7 million by Shubh Hotels Pittsburgh LLC isn't backing
down from its efforts to foreclose on the downtown Pittsburgh
property that once bore the Hilton name.  Shubh Hotels filed for
Chapter 11 bankruptcy protection earlier this week in the wake of
the lender's initial foreclosure attempt, but the filing doesn't
appear to have dampened the lender's pursuit of the assets.  DBR
relates loan administrator BlackRock Financial Management Inc. and
lender Carbon Capital II Real Estate CDO 2005-1 Ltd. are now
asking the court to lift the automatic stay currently protecting
the company from attempts by creditors to seize assets so they can
proceed with the foreclosure.  BlackRock and Carbon Capital claim
they're owed $49.67 million under the loan, including interest,
but that the property itself is only "realistically worth" $30
million.

Boca Raton, Florida-based Shubh Hotels Pittsburgh, LLC, filed a
Chapter 11 petition on September 7 in Pittsburgh, Pennsylvania
(Bankr. W.D. Pa. Case No. 10-26337).  Shubh is the owner of the
former Pittsburgh Hilton Hotel.  The Debtor estimated $10 million
to $50 million in assets and $50 million to $100 million in debts
in its Chapter 11 petition.  Scott M. Hare, Esq., in Pittsburgh,
serves as the Debtor's bankruptcy counsel.


SIGNATURE BANK: Colo. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Windsor, Colo.-based
Signature Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $82,762,000 in assets.


SIGNATURE BANK: Ga. Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Sandy Springs, Ga.-
based Signature Bank of Georgia.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$223,543,000 in assets.


S.C. COMMUNITY: S.C. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Columbia, S.C.-based
South Carolina Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $84,570,000
in assets.


SONOMA VINEYARD: Case Summary & Largest Unsecured Creditor
----------------------------------------------------------
Debtor: Sonoma Vineyard Estates LLC
        P.O. Box 2490
        Napa, CA 94558

Bankruptcy Case No.: 10-13447

Chapter 11 Petition Date: September 7, 2010

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

Judge: Alan Jaroslovsky

Debtor's Counsel: Michael C. Fallon, Esq.
                  LAW OFFICES OF MICHAEL C. FALLON
                  100 E St. #219
                  Santa Rosa, CA 95404
                  Tel: (707) 546-6770
                  E-mail: mcfallon@fallonlaw.net

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

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

The petition was signed by Tim Wilkens, president of manager.

In its list of 20 largest unsecured creditors, the Company placed
only one entry:

Entity                   Nature of Claim        Claim Amount
------                   ---------------        ------------
Riechers Spence           Business Expense       $1,500
Associates
1541 Third Street
Napa, CA 94559


SOUTHBANK: Fla. Bank Rated E- by Weiss Ratings
----------------------------------------------
Weiss Ratings has assigned its E- rating to Palm Beach Gardens,
Fla.-based Southbank A FSB.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $29,684,000
in assets.


SOUTHERN COMMERCE: Fla. Bank Rated E+ by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E+ rating to Tampa, Fla.-based
Southern Commerce Bank NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$257,172,000 in assets.


SOUTHPOINT BANK: Ala. Bank Rated E by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E rating to Birmingham, Ala.-based
Southpoint Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $257,468,000 in assets.


SOUTHPORT: Wisc. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Kenosha, Wisc.-based
Southport Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $415,343,000 in assets.


SOUTHSHORE COMMUNITY: Fla. Bank Rated E- by Weiss Ratings
---------------------------------------------------------
Weiss Ratings has assigned its E- rating to Apollo Beach, Fla.-
based Southshore Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $50,702,000
in assets.


SQUARE 514: Case Summary & Largest Unsecured Creditor
-----------------------------------------------------
Debtor: Square 514 Partners, LLC
        4400 Jenifer Street, NW, Suite 350
        Washington, DC 20015

Bankruptcy Case No.: 10-00880

Chapter 11 Petition Date: September 7, 2010

Court: U.S. Bankruptcy Court
       District of Columbia (Washington, D.C.)

Judge: S. Martin Teel, Jr.

Debtor's Counsel: Seth Adam Robbins, Esq.
                  SEEGER, FAUGHNAN, MENDICINO PC
                  2620 P. Street NW
                  Washington, DC 20001
                  Tel: (202) 822-8838
                  E-mail: quaglianoseegerpc@gmail.com

Scheduled Assets: $1,615,000

Scheduled Debts: $1,604,430

The petition was signed by J. Kenneth Sugarman, president.

The list of unsecured creditors filed together with its petition
contains only one entry:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
J. Kenneth Sugarman                   Loan                $100,000
4400 Jenifer Street, NW, Suite 350
Washington, DC 20015


STATE BANK: Mich. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Fenton, Mich.-based
State Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $322,445,000 in assets.


STATE BANK: Minn. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Cokato, Minn.-based
State Bank of Cokato.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $57,753,000
in assets.


STATE CENTRAL: Iowa Bank Rated E by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E rating to Keokuk, Iowa-based
State Central Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $238,609,000 in assets.


STERLING BANK: N.J. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Mount Laurel, N.J.-
based Sterling Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $368,938,000 in assets.


STERLING SB: Wash. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Spokane, Wash.-based
Sterling SB.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $10,021,924,000 in assets.


STOCKMANS BANK: Okla. Bank Rated E+ by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E+ rating to Altus, Okla.-based
Stockmans Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $117,048,000 in assets.


STONEHAM SB: Mass. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Stoneham, Mass.-based
Stoneham SB.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $408,637,000 in assets.


SUMMIT BANK: Ariz. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Prescott, Ariz.-based
Summit Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $93,109,000 in assets.


SUN SECURITY BANK: Mo. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Ellington, Mo.-based
Sun Security Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $395,065,000 in assets.


SUNRISE BANK: Fla. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Cocoa Beach, Fla.-
based Sunrise Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $134,364,000 in assets.


SUNRISE BANK: N.M. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Albuquerque, N.M.-based
Sunrise Bank of Albuquerque.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $83,834,000
in assets.


SUNRISE BANK: Ariz. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Phoenix, Ariz.-based
Sunrise Bank of Arizona.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$475,641,000 in assets.


SUNRISE BANK: Ga. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Atlanta, Ga.-based
Sunrise Bank of Atlanta.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $58,733,000
in assets.


SUNSHINE STATE: Fla. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Port Orange, Fla.-
based Sunshine State Community Bank.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed
$143,120,000 in assets.


SUPERIOR BANK: Mo. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Hazelwood, Mo.-based
Superior Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $58,743,000 in assets.


SUPERIOR BANK: Ala. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Birmingham, Ala.-based
Superior Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $3,341,066,000 in assets.


SYKESVILLE FEDERAL: Md. Bank Rated E by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E rating to Sykesville, Md.-based
Sykesville Federal Savings Assn.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
March 31, 2010, the institution's balance sheet showed $95,205,000
in assets.


SYRINGA BANK: Idaho Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Boise, Idaho-based
Syringa Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of March 31, 2010,
the institution's balance sheet showed $252,873,000 in assets.


T BANK: Tex. Bank Rated E by Weiss Ratings
------------------------------------------
Weiss Ratings has assigned its E rating to Dallas, Tex.-based T
Bank NA.  The rating company says that the institution currently
demonstrates what it considers to be significant weaknesses and
has also failed some of the basic tests it uses to identify fiscal
stability.  "Even in a favorable economic environment," Weiss
says, "it is our opinion that depositors or creditors could incur
significant risks."  As of March 31, 2010, the institution's
balance sheet showed $133,517,000 in assets.


TEFRON LTD: Incurs $2.0 Million Net Loss in June 30 Quarter
-----------------------------------------------------------
Tefron Ltd. attached to its Form 6-K dated August 24, 2010, an
unofficial English translation of the Company's interim
consolidated financial statements as of June 30, 2010, which have
been filed with the Israeli Securities Authority.

The Company reported a net loss of $2.0 million on $24.9 million
of revenue for the three months ended June 30, 2010, compared
with a net loss of $4.6 million on $25.3 million of revenue for
the same period last year.

The Company has positive working capital of $13.1 million as of
June 30, 2010, and had negative cash flows from operating
activities of $4.2 million during the six months ended June 30,
2010.

The Company's balance sheet as of March 31, 2010, showed
$91.5 million in total assets, $45.5 million in total liabilities,
and shareholders' equity of $45.9 million.

As reported in the Troubled Company Reporter on May 5, 2010,
Kost Forer Gabay & Kasierer, in Haifa, Israel, expressed
substantial doubt about the Company's ability to continue as a
going concern.  The independent auditors noted that the Company
had losses of $17.4 million in 2009, has a negative working
capital of $6.6 million as of December 31, 2009, and had negative
cash flows from operating activities of $1.5 million in 2009.  In
addition, the independent auditors said that the Company's ability
to meet its obligations will depend on its ability to comply with
its new financial covenants, including positive EBITDA, during
2010.  "If the Company will not comply with the covenants and the
banks will demand that the credit be payable immediately, then the
Company's ability to raise financing from other sources will be
very limited."

A full-text copy of the interim unaudited financial statements as
of June 30, 2010, is available for free at:

               http://researcharchives.com/t/s?6af5

                        About Tefron Ltd.

Based in Misgav, Israel, Tefron Ltd. (OTC: TFRFF; TASE: TFRN)
was established in 1977 as a private company in Israel.  The
Company is engaged in the development, production, marketing and
sale of intimate apparel, active wear, swimwear and beachwear
sold throughout the world.  The Company's customers include
leading brands such as: Victoria's Secret, Calvin Klein, GAP,
Lululemon, Patagonia, Reebok, JC Penney, Wall-Mart, and Hanes, as
well as other well known retailers and designers labels in the US
and Europe.


TEXAS REPUBLIC: Tex. Bank Rated E by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E rating to Frisco, Tex.-based
Texas Republic Bank NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $29,004,000
in assets.


TIB BANK: Fla. Bank Rated E- by Weiss Ratings
---------------------------------------------
Weiss Ratings has assigned its E- rating to Naples, Fla.-based TIB
Bank.  The rating company says that the institution currently
demonstrates what it considers to be significant weaknesses and
has also failed some of the basic tests it uses to identify fiscal
stability.  "Even in a favorable economic environment," Weiss
says, "it is our opinion that depositors or creditors could incur
significant risks."  As of Mar. 31, 2010, the institution's
balance sheet showed $1,687,782,000 in assets.


TIFTON BANKING: Ga. Bank Rated E- by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E- rating to Tifton, Ga.-based
Tifton Banking Co.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $192,226,000 in assets.


TOWN CENTER: Tex. Bank Rated E by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E rating to Coppell, Tex.-based
Town Center Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $40,160,000 in assets.


TOWN NORTH: Tex. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Dallas, Tex.-based
Town North Bank NA.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $954,865,000 in assets.


TOWN NORTH: Nev. Bank Rated E by Weiss Ratings
----------------------------------------------
Weiss Ratings has assigned its E rating to Henderson, Nev.-based
Town North Bank Nevada NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $68,076,000
in assets.


TOYOTA FINANCIAL: Nev. Bank Rated E+ by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E+ rating to Henderson, Nev.-based
Toyota Financial SB.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $876,647,000 in assets.


TRAVERSE CITY: Mich. Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to Traverse City, Mich.-
based Traverse City State Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $180,083,000
in assets.


TREMONT SB: Ill. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Tremont, Ill.-based
Tremont SB.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $41,706,000 in assets.


TRIDIMENSION ENERGY: Wants Challenge Period Extended Until Oct. 27
------------------------------------------------------------------
TriDimension Energy, L.P., et al., ask the U.S. Bankruptcy Court
for the Northern District of Texas to approve a stipulation
extending the challenge period for TriDimension's access of cash
collateral and credit from September 27, 2010, to October 27.

The stipulation was entered among the Debtors, the Official
Committee of Unsecured Creditors, the agent and the prepetition
lenders.

As reported in the Troubled Company Reporter on June 11, the Court
authorized the Debtors to:

     -- use cash collateral of Amegy Bank, N.A., BMO Capital
        Markets Financing, Inc., and Union Bank, N.A., in their
        capacity as prepetition lenders, and Amegy, as agent for
        the Pre-Petition Lenders, pursuant to a budget;

     -- obtain postpetition credit from Amegy and BMO Capital
        Markets Financing, Inc., with Amegy serving as agent for
        the Post-Petition Lenders, up to an amount advanced,
        whether in a single advance or numerous advances from time
        to time, in an amount not to exceed $2,150,000 on an
        interim basis, and $6,750,000 on a final basis, cumulative
        of any amounts advanced on an interim basis;

     -- grant first priority liens and adequate protection to the
        DIP Agent and Post-Petition Lenders with respect to their
        interests in the DIP Collateral;

     -- grant adequate protection to the Agent and the
        Pre-Petition Lenders with respect to their interests in
        the Pre-Petition Collateral; and

     -- authorize the Debtors to make payments to royalty and
        working interest owners on account of the prepetition sale
        of oil and gas in amounts consistent with the budget.

The DIP loan matures September 30.

Amegy and the prepetition lenders assert a claim for at least
$43,599,949 secured by substantially all of the Debtors' assets.

In addition, the Debtors said certain holders of $6 million in
unsecured claims, including contracts and subcontractors, may
assert liens on the Collateral.

                     About TriDimension Energy

TriDimension Energy, L.P., and its operating subsidiaries, TDE
Property Holdings, LP, Axis E&P, LP, Axis Onshore, LP, Axis
Marketing, LP, and Ram Drilling, LP, are engaged in the
acquisition, development, exploration, production, and sale of oil
and natural gas in Louisiana and Mississippi.  The Company leases
approximately 165,218 gross acres of oil and gas property, and
have proven reserves of approximately 5.1 million barrels of oil
based on fourth quarter 2009 data.  Tridimension Energy disclosed
$37,211,921 in assets and $45,389,239 in liabilities.

TriDimension Energy, L.P. and seven of its affiliated companies
filed for Chapter 11 on May 21, 2010 (Bankr. N.D. Tex. Case No.
10-33565).  The Company has retained Vinson & Elkins LLP as their
lead bankruptcy counsel, Ottinger Hebert, L.L.C. as their special
counsel, FTI Consulting, Inc. as their financial advisors, and
Stephens Inc. as their investment bankers.


TRIDIMENSION ENERGY: Asks for Nov. 19 Plan Exclusivity Extension
----------------------------------------------------------------
TriDimension Energy, L.P., et al., ask the U.S. Bankruptcy Court
for the Northern District of Texas to extend their exclusive
periods to file and solicit acceptances for the proposed
Chapter 11 Plan until November 19, 2010, and January 17, 2011,
respectively.

The Debtors relate that they need additional time to formulate a
Plan.  The Debtors add that they recently entered into a non-
binding letter of intent with a proposed stalking horse bidder,
and intend file a motion to approve bidding procedures and the
selection of the stalking horse bidder, well as a plan of
reorganization and related disclosure statement, prior to the end
of September.

The hearing on the requested exclusivity extension is scheduled
for September 20 at 9:30 a.m. before the Hon. Stacey G.C.
Jernigan.

                     About TriDimension Energy

TriDimension Energy, L.P., and its operating subsidiaries, TDE
Property Holdings, LP, Axis E&P, LP, Axis Onshore, LP, Axis
Marketing, LP, and Ram Drilling, LP, are engaged in the
acquisition, development, exploration, production, and sale of oil
and natural gas in Louisiana and Mississippi.  The Company leases
approximately 165,218 gross acres of oil and gas property, and
have proven reserves of approximately 5.1 million barrels of oil
based on fourth quarter 2009 data.  Tridimension Energy disclosed
$37,211,921 in assets and $45,389,239 in liabilities.

TriDimension Energy, L.P. and seven of its affiliated companies
filed for Chapter 11 on May 21, 2010 (Bankr. N.D. Tex. Case No.
10-33565).  The Company has retained Vinson & Elkins LLP as their
lead bankruptcy counsel, Ottinger Hebert, L.L.C. as their special
counsel, FTI Consulting, Inc. as their financial advisors, and
Stephens Inc. as their investment bankers.


TRIDIMENSION ENERGY: Files Schedules of Assets and Liabilities
--------------------------------------------------------------
TriDimension Energy, L.P., 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               $25,853,120
  B. Personal Property           $11,358,801
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $43,528,019
  E. Creditors Holding
     Unsecured Priority
     Claims                                              $25
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $1,861,195
                                 -----------      -----------
        TOTAL                    $37,211,921      $45,389,239

                     About TriDimension Energy

TriDimension Energy, L.P., and its operating subsidiaries, TDE
Property Holdings, LP, Axis E&P, LP, Axis Onshore, LP, Axis
Marketing, LP, and Ram Drilling, LP, are engaged in the
acquisition, development, exploration, production, and sale of oil
and natural gas in Louisiana and Mississippi.  The Company leases
approximately 165,218 gross acres of oil and gas property, and
have proven reserves of approximately 5.1 million barrels of oil
based on fourth quarter 2009 data.

TriDimension Energy, L.P. and seven of its affiliated companies
filed for Chapter 11 on May 21, 2010 (Bankr. N.D. Tex. Case No.
10-33565).

The Company has retained Vinson & Elkins LLP as their lead
bankruptcy counsel, Ottinger Hebert, L.L.C. as their special
counsel, FTI Consulting, Inc. as their financial advisors, and
Stephens Inc. as their investment bankers.


TRUMAN BANK: Mo. Bank Rated E- by Weiss Ratings
-----------------------------------------------
Weiss Ratings has assigned its E- rating to Saint Louis, Mo.-based
Truman Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $446,934,000 in assets.


TRUST BANK: Ga. Bank Rated E+ by Weiss Ratings
----------------------------------------------
Weiss Ratings has assigned its E+ rating to Lenox, Ga.-based Trust
Bank.  The rating company says that the institution currently
demonstrates what it considers to be significant weaknesses and
has also failed some of the basic tests it uses to identify fiscal
stability.  "Even in a favorable economic environment," Weiss
says, "it is our opinion that depositors or creditors could incur
significant risks."  As of Mar. 31, 2010, the institution's
balance sheet showed $31,532,000 in assets.


UNION BANK: La. Bank Rated E+ by Weiss Ratings
----------------------------------------------
Weiss Ratings has assigned its E+ rating to Marksville, La.-based
Union Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $245,684,000 in assets.


UNION CREDIT: Fla. Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Miami, Fla.-based Union
Credit Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $166,976,000 in assets.


UNITED AMERICAS: Ga. Bank Rated E+ by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E+ rating to Atlanta, Ga.-based
United Americas Bank NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $262,997,000
in assets.


UNITED COMMUNITY: Tex. Bank Rated E by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E rating to Highland Village, Tex.-
based United Community Bank NA.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $111,484,000
in assets.


UNITED LEGACY: Fla. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Winter Park, Fla.-
based United Legacy Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $171,567,000
in assets.


UNITED WESTERN: Colo. Bank Rated E by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E rating to Denver, Colo.-based
United Western Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $2,588,703,000 in assets.


UNUM GROUP: Fitch Affirms 7.405% Jr. Sub Capital Notes at 'BB+'
---------------------------------------------------------------
Fitch Ratings expects to assign a 'BBB' rating to Unum Group
Inc.'s (NYSE:UNM) planned $400 million 10-year senior notes
issuance.  At the same time, Fitch has affirmed all of UNM's
existing ratings.  The Rating Outlook is Stable.

UNM intends to use a portion of the net proceeds from the offering
to pre-fund $225 million of senior notes maturing in March 2011
and the remainder for general corporate purposes.

The rating action recognizes that UNM's current financial leverage
metrics remain within Fitch's expectation for the rating,
including Fitch's equity adjusted leverage near 20%.  Fitch
estimates pro forma equity adjusted leverage will increase to
19.6% from 16.3% at June 30, 2010.  Fitch considers UNM's debt
service capacity as being adequate for the rating level and
expects run-rate, GAAP earnings based interest coverage to range
from 9 times (x) to 12x.

The rating rationale includes UNM's operating performance which
has remained strong despite a weak global economy; conservative
investment portfolio; solid capital and liquidity at both the
insurance subsidiary and holding company levels; the company's
leadership position in the U.S. employee benefits market; and
increased diversification from the United Kingdom and worksite
products.

The Stable Outlook reflects Fitch's belief that while UNM's
premium growth will be challenged throughout the remainder of
2010, the company will continue to produce stable operating
results across its targeted segments. Additionally, Fitch believes
statutory net operating gains will cushion capitalization from
potential credit-related investment losses and continue to support
improvements achieved in holding company financial flexibility.

Key rating drivers for UNM's ratings that could lead to an upgrade
include:

     -- Improved general economic conditions including a growth in
        employment, salaries and disposable income which enable
        UNM to achieve its long-term target of 6%-8% annual
        earnings growth on its core operations.

     -- GAAP earnings-based interest coverage over 12x-14x and
        statutory maximum allowable dividend coverage of interest
        expense at 8x.

     -- Sustained maintenance of operating company capital
        relative to current target of 375%-400% U.S. risk-based
        capital, target 225% of UK Pillar I capital and run-rate
        financial leverage meaningfully below management's
        targeted 25% level.

Key rating drivers for UNM's ratings that could lead to a
downgrade include:

     -- Deterioration in financial results that includes an
increase in the U.S. group disability benefit ratio over 87%; GAAP
earnings-based interest coverage falling below 4x and statutory
maximum allowable dividend interest expense coverage falling below
5x.

     -- A reserve strengthening charge greater than $200 million;

     -- Holding company cash falls below management's target of
        approximately 1x fixed charges (interest expense plus
        common stock dividend), or roughly $270 million.

     -- A sustained drop from the company's short-term target
        375%-400% U.S. risk-based capital and long-term target of
        300% U.S. risk-based capital, target 225% of UK Pillar I
        capital and an increase in financial leverage above
        management's targeted 25%.

Fitch expects to assign the following rating:

Unum Group Inc.
     -- $400 million 5.625% senior notes due 2020 at 'BBB';
Outlook Stable.

Fitch affirms the following ratings:

Unum Group Inc.

     -- Issuer Default Rating (IDR) at 'BBB+';
     -- 7.125% senior notes due Sept. 30, 2016 at 'BBB';
     -- 7.625% senior notes due March 1, 2011 at 'BBB';
     -- 7% senior notes due July 15, 2018 at 'BBB';
     -- 7.25% senior notes due March 15, 2028 at 'BBB';
     -- 6.75% senior notes due Dec. 15, 2028 at 'BBB';
     -- 7.375% senior notes due June 15, 2032 at 'BBB'.

Provident Financing Trust I

     -- 7.405% junior subordinated capital securities at 'BB+'.

UnumProvident Finance Company plc,

     -- 6.85% senior notes due Nov. 15, 2015 at 'BBB'.

Unum Group members:

Unum Life Insurance Company of America
Provident Life & Accident Insurance Company
Provident Life and Casualty Insurance Company
The Paul Revere Life Insurance Company
The Paul Revere Variable Annuity Insurance Company
First Unum Life Insurance Company
Colonial Life & Accident Insurance Company
--IFS at 'A'.


VALLEY COMMUNITY: Ill. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Saint Charles, Ill.-
based Valley Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $155,243,000
in assets.


VENTURA COUNTY: Calif. Bank Rated E- by Weiss Ratings
-----------------------------------------------------
Weiss Ratings has assigned its E- rating to Oxnard, Calif.-based
Ventura County Business Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $84,216,000
in assets.


VIKING BANK: Wash. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Seattle, Wash.-based
Viking Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $555,316,000 in assets.


VILLAGE BANK: Utah Bank Rated E by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E rating to Saint George, Utah-
based Village Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $241,166,000 in assets.


VILLAGE BANK: Mo. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Springfield, Mo.-based
Village Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $89,252,000 in assets.


VIRGINIA BUSINESS: Va. Bank Rated E by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E rating to Richmond, Va.-based
Virginia Business Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $159,664,000
in assets.


WACCAMAW BANK: N.C. Bank Rated E+ by Weiss Ratings
--------------------------------------------------
Weiss Ratings has assigned its E+ rating to Whiteville, N.C.-based
Waccamaw Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $585,395,000 in assets.


WAKULLA BANK: Fla. Bank Rated E- by Weiss Ratings
-------------------------------------------------
Weiss Ratings has assigned its E- rating to Crawfordville, Fla.-
based Wakulla Bank.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $454,537,000 in assets.


WASHINGTON MUTUAL: Examiner Files Preliminary Report
----------------------------------------------------
Joshua R. Hochberg, the examiner appointed in the Chapter 11
cases of Washington Mutual, Inc. and WMI Investment Corp.
delivered a preliminary report of his investigation to the U.S.
Bankruptcy Court for the District of Delaware.

The primary focus and scope of the Examiner's investigation into
WaMu is to evaluate the overall reasonable of the proposed global
settlement agreement that resolves certain disputes among the
Debtors, JPMorgan Chase & Co., the Federal Deposit Insurance
Corporation, the FDIC as Receiver for Washington Mutual Bank, and
certain other parties-in-interest.  The Global Settlement is the
focal point of the Debtors' Chapter 11 Plan.

The Preliminary Report, filed on September 7, 2010, does not
detail any initial findings on the WaMu investigation.  Instead,
it focuses on apprising the Court of the current status of the
ongoing investigation.  The Examiner detailed to the Court:

  -- a summary of work completed to date,
  -- a summary of cooperation gathered to date,
  -- methods used in conducting the investigation, and
  -- current status of document review and production.

The Examiner disclosed that since his appointment, he has
obtained the production of thousands of additional documents and
has interviewed more than 20 individuals considered to be fact
witnesses.  Those interviews have included current and former
employees of the Debtors, current employees of JPMorgan,
individuals associated with government agencies, and current
employees of certain third parties.

The Examiner averred that he has also received support and
cooperation from the Debtors and their professionals, the
Official Committee of Unsecured Creditors, the Official Committee
of Equity Security Holders and JPMorgan.  The FDIC has indicated
it will cooperate with the Examiner.

In conducting his investigation, the Examiner obtained documents
and information on a voluntary basis and conducted interviews, in
lieu of depositions, in order to facilitate obtaining information
from fact witnesses.

The Examiner disclosed that he received prompt access to all
documents stored in the Bowne Smart Room, an online repository of
documents.  The data room contains about 20,000 WaMu Inc.,
JPMorgan and Blackstone Group documents recently uploaded in
connection with the Plan confirmation process.

The Examiner earlier determined that it was best to conduct the
Investigation by establishing teams to examine discrete areas of
Investigation.  Accordingly, the Preliminary Report summarized
the progress made by established teams:

  (A) JPMorgan Team -- The team is examining claims against, and
       issues pertaining to, JPMorgan and certain third-party
       claims.  Among other things, the JPMorgan Team is
       investigating whether JPMorgan (1) intentionally injured
       WaMu in connection with the sale of WaMu to JPMorgan for
       $1.9 billion; and (2) improperly interfered with the sale
       of WaMu or Washington Mutual Bank to others.  Based on
       the JPMorgan Team's review of discovery materials, work
       product, briefs filed with the courts and other
       materials, the team has identified several areas of
       inquiry.

  (B) Asset and Avoidance Team -- The team is investigating the
       disputed claims of ownership of certain "deposit
       accounts," including the approximately $4 billion in
       funds held in deposit accounts at Washington Mutual Bank
       fsb.  The team is also evaluating whether the Debtors may
       assert avoidance claims for transfers made to Washington
       Mutual Bank and possible avoidance claims the FDIC
       Receiver may have against the Debtors.

  (C) FDIC Team -- The team is evaluating potential claims that
       the Debtors' estates may have against the FDIC and which
       would be released upon Plan confirmation.  The team is
       considering the substantial procedural and legal defenses
       asserted by the FDIC to all potential claims.

       Moreover, among the allegations investigated is that of
       the FDIC breaching its statutory or fiduciary duties as
       receiver by selling WaMu Bank for less than possible.

  (D) Tax Team -- The team is investigating and analyzing three
       issues: (1) the likelihood that the Net Tax Refunds
       identified in the Settlement will be received from the
       various tax authorities and the anticipated timing of the
       receipt of the refunds; (2) the competing claims to the
       ownership of certain tax refunds as advanced in various
       litigation and other forums; and (3) whether the Plan
       maximizes the tax assets available to the Debtors.  The
       Examiner is devoting significant resources to those tax
       issues.

  (E) Trust Preferred Securities Team -- The team is examining
       issues related to certain securities that were issued by
       an indirect subsidiary of Washington Mutual Bank in 2006
       and 2007, resulting in WaMu Bank raising several billions
       in dollars in capital.  The TPS team is locating or
       obtaining additional documents relevant to the TPS
       issues.

           Examiner to Submit Final Report on Nov. 1

The Examiner sought and obtained an extension of the time by
which he must file his final report from October 8, 2010, to
November 1, 2010, according to The Associated Press.

A formal order on the extension is not yet available in the
Court's public dockets.

The Examiner said he needs the additional time to (i) obtain
additional documents, (ii) interview witnesses, and (iii) analyze
and evaluate all the information to complete the Final Report.
The Examiner added that witnesses are scheduled to be interviewed
through September 17, 2010, and more interviews are being
arranged.

The Examiner also asked the Court to establish procedures to deal
with confidentiality issues so that the Final Report may be
publicly released.

Henry F. Sewell, Jr., Esq., at McKenna Long & Aldridge LLP, in
Atlanta, Georgia, notes that many of the documents considered by
the Examiner are subject to the Court's Order governing the
production and use of discovery materials in connection with Plan
confirmation.  Several parties producing documents and
information have also advised the Examiner that they wish to do
so subject to confidentiality restrictions or protective orders
entered by the Court.  Against this backdrop, the Examiner
proposes certain procedures to provide all parties-in-interest
with time to either resolve issues related to the use of
confidential information or to identify particular issues to the
Court for resolution.

The Examiner proposes this timetable to resolve confidential
information issues in relation to the Final Report:

  * October 25, 20l0     -- The Examiner will serve on each
                            party excerpts from the Final Report
                            that reference, discuss or otherwise
                            discloses confidential documentary
                            information obtained from that
                            party.  The Examiner will not
                            provide that party with his
                            conclusions, recommendations or text
                            that does not disclose confidential
                            documentary information.

  * No later than        -- Each party and the Examiner will
    October 27, 2010        meet and confer to try to resolve
                            any issues.

  * No later than        -- The Examiner will let each party
    October 28, 2010        know his final position.

  * October 29, 2010     -- Deadline to object to any disclosure
                            of confidential documentary
                            information under seal.

  * November 1, 2010     -- The Examiner will file on the public
                            record a Final Report, which will
                            redact references, discussion, or
                            other disclosure of confidential
                            documentary information as to which
                            any party has filed an objection.
                            The Examiner will also file under
                            seal an unredacted copy of the Final
                            Report.  The Examiner will then
                            conform the unredacted Final Report,
                            through redactions if necessary, to
                            the Court's final order concerning
                            its release.

A full-text copy of the WaMu Examiner Preliminary Report is
available for free at:

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

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).



WASHINGTON MUTUAL: Plan Outline Hearing Reset to Sept. 24
---------------------------------------------------------
Judge Mary F. Walrath has tentatively rescheduled the hearing to
consider the adequacy of the Disclosure Statement explaining the
Fifth Amended Chapter 11 Plan of Reorganization of Washington
Mutual, Inc. and WMI Investment Corp. to September 24, 2010,
according to The Associated Press.

The recent hearing adjournment was made in light of Joshua R.
Hochberg, the Bankruptcy Court-appointed examiner's request for
additional time to review claims and assets in WaMu's bankruptcy,
AP notes.

The Disclosure Statement hearing has been adjourned several
times, the last date being set for September 7.  Among the
reasons for the previous adjournments was Judge Walrath's
directive for WaMu, JPMorgan Chase, a committee of WaMu's equity
holders and certain other parties to settle disputes pertaining
to information disclosure and discovery related to WaMu's demise
in 2008 and the Company's subsequent bankruptcy filing.

This dispute over discovery in WaMu's cases is among the reasons
why Judge Walrath felt the need of an examiner to conduct an
independent investigation into WaMu.

The Examiner submitted to the Court a preliminary report on his
investigation into WaMu on September 7.  At the Examiner's
request, the Court extended the deadline for the submission of
the examiner final report to November 1, AP relates.

The Court, however, did not commit to a December 1 hearing
commencement for the confirmation of the Plan as suggested by
WaMu attorney Brian Rosen, Esq., at Weil, Gotshal & Manges LLP,
in New York, according to AP.

A formal order on the Disclosure Statement Hearing adjournment
has not been available in the Court's dockets as of press time.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WASHINGTON MUTUAL: Agrees with FDIC on Segregation of Accounts
--------------------------------------------------------------
Washington Murual Inc.; the Federal Deposit Insurance Corporation,
as receiver for Washington Mutual Bank; and JPMorgan Chase Bank,
National Association entered into a Court-approved stipulation
for the segregation of accounts in relation to certain tax-
related payments.

Prior to the Petition Date and in the ordinary course of
business, Washington Mutual Inc. filed tax returns and tax refund
claims with the Internal Revenue Service and other taxing
authorities on behalf of itself and other members of its
consolidated tax group.

WaMu Inc. has received, and the Parties expect that WaMu Inc.
will in the future continue to receive tax refunds and/or the
return of tax overpayments paid to the IRS and other taxing
authorities (1) with respect to federal, state, local or foreign
taxes paid on a combined, unitary or consolidated basis by or on
behalf of any group of corporations for which one of the Debtors
was the common parent, for taxable years ending on or prior to
December 31, 2008, and (2) with respect to taxes imposed by the
State of California in 2008 on any member of the U.S.
consolidated group of which WaMu Inc. was the common parent.

The ownership of and rights to the Tax Refunds, and whether the
Tax Refunds are property of the Debtors' estates, is under
dispute, as is which court has jurisdiction to adjudicate that
dispute, including whether the Tax Refunds are property of the
Debtors' estates or property of WaMu Inc.'s former thrift
subsidiary Washington Mutual Bank, held by the FDIC-Receiver, or
property of JPMorgan.

The Stipulating Parties are, among other entities, parties to a
"global settlement agreement" dated May 21, 2010 that addresses,
among other things, the allocation of various tax assets.  The
compromise under the Global Settlement is the foundation of the
Debtors' Chapter 11 plan.

In anticipation of the receipt of Tax Refunds, and in order to
avoid unnecessary disputes pending approval and consummation of
the GSA, the Parties agreed to a protocol for the deposit and
retention of the Tax Refunds in a segregated interest bearing
account, without prejudice to any Party's position with respect
to it.

The Parties specifically agree that:

  (a) A joint, segregated account under the names of WaMu Inc.,
      the FDIC-Receiver and JPMorgan will be established for the
      sole purpose of holding on deposit Tax Refunds.  The
      account will be interest bearing and the interest accrued
      will be allocable among the Parties in accordance with the
      GSA or as otherwise may be determined in the event that
      the transactions contemplated in the GSA are not
      consummated.

  (b) Wells Fargo Bank will act as custodian of the Tax Refund
      Holding Account.

  (c) Any and all Tax Refunds that any of the Stipulating
      Parties receive as of May 21, 2010 will be deposited into
      the Tax Refund Holding Account without delay.

  (d) The IRS is directed to deposit any and all Tax Refunds to
      be issued from and after August 26, 2010 into the Tax
      Refund Holding Account.

  (e) Nothing in the Stipulation is deemed an admission by any
      Party as to the relative ownership rights of the Parties
      to the Tax Refunds or relevant to any other claim or
      defense.

Before the Court entered the approval order, the Official
Committee of Equity Security Holders informed Judge Walrath that
it has no objection to the approval of the Stipulation although
it only had a brief opportunity to review it.  However, the
Equity Committee avers that since it was not consulted prior to
the submission of the Stipulation, it reserves all of its rights,
claims and arguments that it may assert in the future with
respect to the Tax Refunds.

                      About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- is a holding company for Washington Mutual
Bank as well as numerous non-bank subsidiaries.  The Company
operates in four segments: the Retail Banking Group, which
operates a retail bank network of 2,257 stores in California,
Florida, Texas, New York, Washington, Illinois, Oregon, New
Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and
Connecticut; the Card Services Group, which operates a nationwide
credit card lending business; the Commercial Group, which conducts
a multi-family and commercial real estate lending business in
selected markets, and the Home Loans Group, which engages in
nationwide single-family residential real estate lending,
servicing and capital markets activities.

Washington Mutual Bank was taken over September 25 by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  Wamu owns
100% of the equity in WMI Investment.  Weil Gotshal & Manges
represents the Debtors as counsel.  When WaMu filed for protection
from its creditors, it listed assets of $32,896,605,516 and debts
of $8,167,022,695.  WMI Investment estimated assets of
$500,000,000 to $1,000,000,000 with zero debts.

Peter Calamari, Esq., and David Elsberg, Esq., at Quinn Emanuel
Urquhart Oliver & Hedges, LLP, served as legal counsel to WMI with
responsibility for the litigation.  Brian Rosen, Esq., at Weil,
Gotshal & Manges LLP served as legal counsel to WMI with
responsibility for the Chapter 11 case.

Bankruptcy Creditors' Service Inc. publishes Washington Mutual
Bankruptcy News.  The newsletter tracks the Chapter 11 proceedings
of Washington Mutual Inc. (http://bankrupt.com/newsstand/or
215/945-7000).


WAUKEGAN SB: Ill. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Waukegan, Ill.-based
Waukegan SB.  The rating company says that the institution
currently demonstrates what it considers to be significant
weaknesses and has also failed some of the basic tests it uses to
identify fiscal stability.  "Even in a favorable economic
environment," Weiss says, "it is our opinion that depositors or
creditors could incur significant risks."  As of Mar. 31, 2010,
the institution's balance sheet showed $100,402,000 in assets.


WEST MICHIGAN: Mich. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Hudsonville, Mich.-
based West Michigan Community Bank.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $148,138,000
in assets.


WESTBRIDGE BANK: Mo. Bank Rated E- by Weiss Ratings
---------------------------------------------------
Weiss Ratings has assigned its E- rating to Chesterfield, Mo.-
based Westbridge Bank & Trust.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $98,380,000
in assets.


WESTCLIFF MEDICAL: Assets Sale Hearing Continued Until October 6
----------------------------------------------------------------
The Hon. Theodor Albert of the U.S. Bankruptcy Court for the
Central District of California has continued until October 6,
2010, a 10:00 a.m., the hearing on the sale of substantially all
of Westcliff Medical Laboratories, Inc., et al.'s assets.

As reported in the Troubled Company Reporter on June 14, Wave
Newco, Inc., a wholly-owned subsidiary of Laboratory Corporation
of America agreed to purchase the Debtors assets for $57.5
million.

The Court also approved a stipulation resolving Grifols USA, LLC's
objection to the sale.  The stipulation provided that:

   -- the cure amounts for the Grifols contract will be deemed to
      be $194,112 and allocated as (a) 116,129 for two Triturus
      ELISA Analyzer contracts; (b) $43,200 for warranty
      contracts; and (c) $34,783 for reagent contracts; and

   -- Grifols limited objection will be deemed withdrawn.

                      About Westcliff Medical

Santa Ana, California-based Westcliff Medical is a provider of
clinical testing and pathology services at 170 locations in
California.  Westcliff filed a Chapter 11 petition on May 19 in
Santa Ana, California (Bankr. C.D. Calif. Case No. 10-16743).  The
Westcliff Medical disclosed $61,210,303 in assets and $66,244,135
in liabilities.  Ron Bender, Esq., who has an office in Los
Angeles, California, assists the Debtor in its restructuring
effort.  Parent BioLabs Inc. also filed for Chapter 11.  The
parent has no assets aside from owning Westcliff.


WESTWAY CONSTRUCTION: Case Summary & Creditors List
---------------------------------------------------
Debtor: Westway Construction, Inc
        19528 Ventura Boulevard, #105
        Tarzana, CA 91356

Bankruptcy Case No.: 10-21153

Chapter 11 Petition Date: September 6, 2010

Court: U.S. Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Geraldine Mund

Debtor's Counsel: Mufthiha Sabaratnam, Esq.
                  701 N. Alvarado Street, 3rd Floor
                  Los Angeles, CA 90026
                  Tel: (213) 483-2210
                  E-mail: pke115mfs@yahoo.com

Scheduled Assets: $342,188

Scheduled Debts: $1,164,749

A list of the Company's 17 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/cacb10-21153.pdf

The petition was signed by Melineh Dersarkissian, president.


WESTERN COMMERCIAL: Calif. Bank Rated E- by Weiss Ratings
---------------------------------------------------------
Weiss Ratings has assigned its E- rating to Woodland Hills,
Calif.-based Western Commercial Bank.  The rating company says
that the institution currently demonstrates what it considers to
be significant weaknesses and has also failed some of the basic
tests it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $109,234,000
in assets.


WESTERN COMMUNITY: Utah Bank Rated E- by Weiss Ratings
------------------------------------------------------
Weiss Ratings has assigned its E- rating to Orem, Utah-based
Western Community Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $113,146,000
in assets.


WESTERN SPRINGS: Ill. Bank Rated E- by Weiss Ratings
----------------------------------------------------
Weiss Ratings has assigned its E- rating to Western Springs, Ill.-
based Western Springs NB&T.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $219,087,000
in assets.


WESTSIDE COMMUNITY: Wash. Bank Rated E+ by Weiss Ratings
--------------------------------------------------------
Weiss Ratings has assigned its E+ rating to University Place,
Wash.-based Westside Community Bank.  The rating company says that
the institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $159,191,000
in assets.


WHITE ROCK: Minn. Bank Rated E- by Weiss Ratings
------------------------------------------------
Weiss Ratings has assigned its E- rating to Cannon Falls, Minn.-
based White Rock Bank.  The rating company says that the
institution currently demonstrates what it considers to be
significant weaknesses and has also failed some of the basic tests
it uses to identify fiscal stability.  "Even in a favorable
economic environment," Weiss says, "it is our opinion that
depositors or creditors could incur significant risks."  As of
Mar. 31, 2010, the institution's balance sheet showed $153,957,000
in assets.


WILLIAM SALERNO, JR.: Case Summary & Creditors List
---------------------------------------------------
Debtor: William Francis Salerno, Jr.
          dba Quovius Inc
              Manzanita Creek Winery
              William Salerno
        1441 Unit A Grove Street
        Healdsburg, CA 95448

Bankruptcy Case No.: 10-13457

Chapter 11 Petition Date: September 8, 2010

Court: U.S. Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Alan Jaroslovsky

Debtor's Counsel: Michael C. Fallon, Esq.
                  LAW OFFICES OF MICHAEL C. FALLON
                  100 E. Street, #219
                  Santa Rosa, CA 95404
                  Tel: (707) 546-6770
                  E-mail: mcfallon@fallonlaw.net

Scheduled Assets: $372,526

Scheduled Debts: $1,927,850

A list of the Debtor's 16 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/canb10-13457.pdf


YRC WORLDWIDE: Hearing on NASDAQ Appeal Set for October 7
---------------------------------------------------------
YRC Worldwide Inc. said it had received a letter from The NASDAQ
Stock Market stating that, based on the closing bid price of the
Company's common stock for the last 30 consecutive business days,
a deficiency exists with regard to NASDAQ Listing Rule 5450(a)(1),
which requires a minimum bid price of $1.00 per share.

Pursuant to the NASDAQ Listing Rules, the Company had a grace
period of 180 calendar days from March 3, 2010, or until Aug. 30,
2010, to regain compliance with the $1.00 minimum bid price
requirement.  In order to regain compliance, the closing price of
the Company's common stock must be $1.00 or greater for a minimum
of 10 consecutive business days.

On Aug. 31, 2010, the Company received notification from NASDAQ
that it had not regained compliance with the minimum $1.00 per
share bid price requirement for continued inclusion on the NASDAQ
Global Market under NASDAQ Listing Rule 5450(a)(1), and that
unless the Company requested an appeal of NASDAQ's determination,
trading in the Company's common stock would be suspended, and the
Common Stock would be removed from listing and registration on The
NASDAQ Stock Market.

The Company has requested a hearing with a Hearings Panel to
appeal the proposed de-listing, which stays the suspension of
trading in, and delisting of, the Common Stock pending the Panel's
decision.  A hearing with the Panel is scheduled for Oct. 7, 2010,
and the Panel would be expected to issue a decision within 30-45
days of the date of the hearing.

In the Company's appeal to the Panel, it will request an
additional period of time to regain compliance with the minimum
bid price rule.  There is no assurance that the Panel will grant
the Company any additional time to regain compliance with the
minimum bid price rule.  The Company plans to implement a reverse
stock split, if necessary, to regain compliance with the minimum
bid price rule prior to the Common Stock being removed from
listing and registration on The NASDAQ Stock Market.

The Company's board of directors continues to evaluate the timing
and ratio of a reverse stock split in connection with the hearing
process described above and has the authority to implement the
reverse stock split at any time.  On Feb. 17, 2010, the Company's
stockholders at a special meeting approved an amendment to the
Company's Certificate of Incorporation to effect a reverse stock
split of the Company's common stock at a ratio that will be
determined by the Company's board of directors and that will be
within a range of one-to-five to one-to-25.

                        About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that through
wholly owned operating subsidiaries offers its customers a wide
range of transportation services.  These services include global,
national and regional transportation as well as logistics.

The Company's balance sheet at June 30, 2010, showed $2.84 billion
in total assets, $1.14 billion in total current liabilities,
$913.47 million in long-term debt less current portion, $146.25
million in deferred income taxes, net, $352.63 million in pension
and postretirement, $359.24 million in claims and other
liabilities, $37,000 in noncurrent liabilities of discontinued
operations, and $77.25 million total stockholders' deficit.

                          *     *     *

As reported in the Troubled Company Reporter on March 18, 2010,
KPMG LLP, in Kansas City, Missouri, expressed substantial doubt
about YRC Worldwide's ability to continue as a going concern in
its report on the Company's consolidated financial statements as
of and for the year ended December 31, 2009.  The independent
auditors noted that the Company has experienced si gnificant
declines in operations, cash flows, and liquidity.


* Court Revives Inventor's Fraud Suit Against Katten
----------------------------------------------------
Bankruptcy Law360 reports that a California appeals court has
revived a lawsuit alleging law firm Katten Muchin Rosenman LLP
defrauded an inventor by conspiring with his former partner to
sell the company he founded, Motion Graphix Inc., out from under
him.

The appeals court said that trial court should have allowed the
estate of inventor Richard Corrales to amend his complaint rather
than dismiss the suit outright, according to Law360.


* Cooley's Larry Gottlieb Named One of Law360's Most Admired Attys
------------------------------------------------------------------
When retailers go bankrupt, their creditors committees have time
and time again sought out Cooley LLP's Larry Gottlieb to help them
navigate the Chapter 11 process, earning him a spot on Law360's
list of the 10 Most Admired Bankruptcy Attorneys.


* Faye Wattleton Joins Alvarez & Marsal As Managing Director
------------------------------------------------------------
Faye Wattleton has joined global professional services firm
Alvarez & Marsal as a managing director based in New York.

Over the course of her more than 30-year career, Ms. Wattleton has
amassed an extraordinary track record of leadership, both as CEO
of national not-for-profit organizations and as a member of the
boards of several public and private corporations, academic
institutions and significant philanthropic organizations.  Perhaps
best known for her executive leadership and advocacy for improving
the status and healthcare of women, her background includes
extensive experience as an executive, board member and consultant
in the health sector and public policy arenas.  She has also
served as a director for a range of public companies, including as
chair of audit and corporate governance committees.

"Faye Wattleton has been a prominent and respected voice in board
rooms and in the public arena for more than three decades," said
Tony Alvarez, II, co-CEO of Alvarez & Marsal.  "She has not only
led the way as a champion of women's issues, she has helped to
guide the direction of corporations, shape public policy and
advance several important charitable causes.  Her background,
international perspective and insights on an array of issues will
be of tremendous value to a wide range of organizations seeking to
improve performance, solve complex problems and chart a successful
course forward in challenging times."

Prior to joining A&M, Ms. Wattleton served as co-founder and
president of the Center for the Advancement of Women (CFAW), an
independent, nonpartisan think tank, conducting women-focused
national opinion research for public education and policy
advocacy.  During her leadership, CFAW received national and
international acclaim for its groundbreaking research on women's
opinions, experiences, roles and status in society.

Earlier in her career, she was president and CEO of the nation's
oldest and largest voluntary reproductive health provider, Planned
Parenthood Federation of America (PPFA), becoming the youngest,
first woman, first African American and longest tenured
professional to hold this position.  At the time of her departure,
a restructured Planned Parenthood had grown to become the nation's
seventh largest nonprofit organization, with an aggregate budget
of $500 million, providing medical and educational services to
four million Americans each year, through 170 affiliates operating
in 49 states and the District of Columbia.  In addition, PPFA
provided technical assistance and commodities to organizations in
dozens of developing countries through the organization's
international arm, known as Family Planning International
Assistance.

Lauded as a public spokesperson as well as for her managerial
skills and revolutionary public policy work by BusinessWeek and
Money, Ms. Wattleton has received countless honors and awards.
She is the 2004 recipient of the prestigious Fries Prize for
service to improving public health and was inducted into the
National Women's Hall of Fame in 1993.

With more than three decades of corporate governance experience
serving public and private corporations, Ms. Wattleton is an
active member of the board of trustees of Columbia University, the
board of governors of the Pardee Rand Graduate School and serves
on the board of directors of Jazz at Lincoln Center.  She
previously served on the boards of directors of public companies
including Ehrlich-Bober Financial Services (1986-1988), Leslie Fay
(1993-1998), Estee Lauder Companies (1995-2003), WellChoice, Inc.
(1993-2005), Quidel Corporation (1994-2006) and Savient
Pharmaceuticals (1997-2007).

Ms. Wattleton holds a bachelor of science degree in nursing from
Ohio State University, and earned a master's degree from Columbia
University. She also holds fourteen honorary degrees.

                        About Alvarez & Marsal

Alvarez & Marsal is an independent global professional services
firm.  It helps companies across the industry spectrum improve
operating and financial performance, and to navigate business,
litigation and tax matters with speed, responsiveness and
unmatched quality.  The Company serves as business advisers or in
interim management roles.

Alvarez & Marsal has been honored numerous times by the Turnaround
Management Association and has been recognized as one of the Best
Firms to Work For by Consulting magazine.


* Slowdown in Filings Fuels Competition for Bankruptcy Cases
------------------------------------------------------------
Just two years after the collapse of Lehman Brothers Holdings
Inc., the number of businesses filing for chapter 11 is dropping
off and competition is heating up among law firms eager to handle
newly filed cases as some of the large bankruptcy matters filed in
recent years are wrapping up, according to American Bankruptcy
Institute.


* BOOK REVIEW: Competition in the Health Care Sector
----------------------------------------------------
Author: Warren Greenberg, Ph.D.
Publisher: Beard Books
Softcover: 410 pages
List Price: $34.95
Review by Henry Berry

Competition in the Health Care Sector covers a landmark Federal
Trade Commission (FTC) conference in June 1977.  The conference
was attended by over 600 individuals, including healthcare
administrators, government policymakers, sociologists and other
academics, and medical doctors.  All were present to try to get a
better appreciation for the role and impact of economics in
healthcare services.  At that time (and still true today),
Medicaid and Medicare were growing larger, health maintenance
organizations (HMOs) were assuming a central place in the
healthcare system, payment methods were proliferating and becoming
more complicated, and consumers were becoming more informed about
and involved with their healthcare options.  Both government
agencies and the private sector recognized that economic
principles and phenomena were at work in the healthcare sector.
The FTC conference was called to clarify the economic factors and
their effects in healthcare in order to gain better control over
the sector, particularly its escalating costs.

The 24 chapters in Competition in the Health Care Sector are
presented in four sections.  The first is "Opening Remarks and
Introduction," followed by sections on "Competition in Selected
Sectors," "Insurance, Competition, and Alternative Delivery
Systems," and "Competition and Regulation."  Many of the chapters
are titled "Comment," which contain comments by an individual on
one of the topics presented in the four major sections.  There is
also a detailed index that leads readers to specific subjects of
interest.

Despite its general title, the first section gets right to the
substance of the conference as connoted in the title.  It is a
staff report prepared by the FTC's Bureau of Economics.  At the
time of the conference, Greenberg was a staff economist with the
FTC and presumably he had an appreciable hand in the report.
There is a note that the FTC "has not adopted the report in whole
or part."  But this is a pro forma entry because there is little
to adopt or reject in this government paper.  The staff report is
a summary of the lengthy and often detailed informative and
analytic papers that follow in the remaining 400 pages of
Competition in the Health Care Sector.
In an address opening the conference, Michael Pertschuk, then FTC
chairman, stresses that, "The Federal Trade Commission is not a
health or medical agency . . . [W]e recognize, along with most
Americans, that the delivery of health care is business, an
industry of vast proportions and vital effect.  Health care has
become [the FTC's] business."  That the FTC, charged with
monitoring and regulating businesses, has come to regard the
healthcare industry in the same terms as other business sectors
plainly evidences the nature of modern-day healthcare.

Healthcare executives and administrators as well as doctors and
related health professionals concurred with the perspective of the
FTC Chairman.  Dr. Theodore Cooper, dean of Cornell University's
Medical College at the time, said in his opening remarks that, "I
have to admit that one can no longer discuss health policy without
an appreciation of the importance of economic factors."  Dr.
Cooper also stated that, "the political and technical discussions
about health policy will continue to expand."  And he said that,
"if the conference can clarify how competition fits into the
'scheme of things,' this will be a milestone for doctors,
patients, and hospitals."

The critical issue of competition in the healthcare industry was
omnipresent during the conference.  Most of the topics covered
during the conference addressed, to some degree or another, the
effects of competition.  The impact of competition on physicians,
hospitals, and insurers was analyzed.  Another area of discussion
focused on the interrelationship between competition and
alternative means of payment.  Appropriately for a conference
sponsored by the FTC, the interrelation of competition and
regulation came under study.

Analyses follow the introduction of each topic.  For example,
"Competition Among Physicians," is followed by expert commentary.
The style of the papers is, as is well described by the author, "a
mix of technical jargon and mathematical exposition common to most
economists, and language suitable for non-economists and public
policy-makers."

The conference did not arrive at definite conclusions about the
place and effects of economics on the thriving, sprawling, complex
healthcare industry that encompasses innumerable organizations and
professionals of many different kinds.  It did, however, succeed
in its objective of presenting data, offering illuminating
analyses, providing knowledgeable perspectives, and eliciting
expert commentary.  All this is offered in a reprint of a 1978
book that still has a place on everyone's bookshelf as a
fundamental text and reference on economics in the healthcare
field.

Warren Greenberg has a Ph.D. in economics from Bryn Mawr
University.  Author of many books and articles in the area of
industrial organization economics and healthcare, Greenberg is
also a professor of Health Economics and of Health Care Sciences
at George Washington University.

                           *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2010.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.


                  *** End of Transmission ***