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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

           Saturday, January 28, 2012, Vol. 16, No. 27

                            Headlines

155 EAST: Posts $568,949 Net Loss in December 2011
ALEXANDER GALLO: Reports $634,243 Net Income in November 2011
AMERICANWEST BANCORP: End December 2011 With $5.54-Mil. Cash
AMERICAN LASER: Files Initial Monthly Operating Report
ATLANTIC & PACIFIC: Reports $49.2-Mil. November Operating Loss

BLITZ USA: Reports $487,587 Net Loss in November 2011
BLITZ USA: Gas Can Maker Reports $980,000 December Loss
CATHOLIC CHURCH: Milwaukee Has $7.89 Million Cash at Nov. 30
CHEF SOLUTIONS: Posts $19.2 Million Net Loss in November 2011
DYNEGY INC: Holdings Has $72-Million Loss in November

DYNEGY INC: Has $32.5-Million Cash at Dec. 31
EMIVEST AEROSPACE: Ends November 2011 With $106,325 Cash
FRIENDLY ICE: Reports $18.9-Mil. Net Loss in Month Ended Nov. 27
GETTY PETROLEUM: Reports $4.4-Mil. December Operating Loss
GSC GROUP: Ends November 2011 With $14.4-Mil. Cash

HUSSEY COPPER: Files Operating Reports for Sept. 27 - Oct. 31
IMPERIAL BANCORP: Posts $228,970 Net Loss in November 2011
INNER CITY: Files Monthly Operating Reports for November 2011
IRWIN MORTGAGE: Ends November 2011 With $5.33-Mil. Cash
LOWER BUCKS: Files November 2011 Monthly Operating Report

LOWER BUCKS: Posts $15,604 Net Loss in November 2011
MSR RESORT: Posts $8.5 Million Net Loss in November 2011
NORTEL NETWORKS: Ends November 2011 With $1.081 Billion Cash
OTERO COUNTY: Posts $3.4 Million Net Loss in November 2011
PEGASUS RURAL: Posts $1.5 Million Net Loss in November 2011

POINT BLANK: Posts $659,727 Net Loss in October 2011
PURE BEAUTY: Posts $3.6-Mil Net Loss in Oct. 30 - Nov. 26 Period
RCR PLUMBING: Posts $692,303 Net Loss in November 2011
SHARPER IMAGE: Ends December 2011 With 2.09-Mil. Cash
SOLYNDRA LLC: Has $5.14-Mil. Cash at December 3

SOUTHWEST GEORGIA: Reports $3.2-Mil. Net Income in November 2011
SP NEWSPRINT: Ends November 2011 With $13.66-Mil. Cash
SPECIALTY PRODUCTS: Ends November 2011 With $26.44-Mil. Cash
SPECIALTY PRODUCTS: Bondex Posts $36,056 Net Loss in November 2011
THORNBURG MORTGAGE: Ends December 2011 With $103.2 Million Cash

TRIBUNE CO: Has $30,135,000 Profit in October
TRIBUNE CO: Has $41,093,000 Profit in November
TRIBUNE CO: Has $62,068,000 Profit in December
WILLIAM LYONS: Files Initial Monthly Operating Report





                            *********


155 EAST: Posts $568,949 Net Loss in December 2011
--------------------------------------------------
BankruptcyData.com reports that 155 East Tropicana filed with the
U.S. Bankruptcy Court a monthly operating report for
December 2011.  For the period, the Company reported a net loss of
$568,949.

                      About 155 East Tropicana

155 East Tropicana LLC owns the world's first Hooters Casino
Hotel, a 696-room and 4-suite hotel located one block from the Las
Vegas Strip and across Tropicana Blvd. from MGM Grand.

155 East Tropicana, along with an affiliate, sought Chapter 11
protection (Bankr. D. Nev. Case No. 11-22216) on Aug. 1, 2011.
155 East sought bankruptcy protection to stop a scheduled Aug. 8
foreclosure of the second-lien debt.  The two secured credit
facilities were accelerated early this year.

Canpartners Realty Holding Co. IV LLC acquired 98.4% of the
$130 million in 8.75% second-lien senior secured notes.  An
additional $32.2 million of interest is owing on the second-lien
debt, with US Bank NA as the indenture trustee.  Holders of the
$14.5 million in first-lien debt have Wells Fargo Capital Finance
Inc. as their agent.  The first-lien obligation is fully secured.
Interest has been paid at the default rate.

Gerald M. Gordon, Esq., and Brigid M. Higgins, Esq., at Gordon
Silver, in Las Vegas, Nevada, serve as counsel to the Debtors.
Garden City Group, Inc., is the claims agent.  William G. Kimmel &
Associates has been hired to provide an appraisal of the Debtors'
casino hotel/property.  Alvarez & Marsal serves as financial and
restructuring advisor.  Innovation Capital LLC serves as financial
advisor for capital raising transactions and M&A transactions.


ALEXANDER GALLO: Reports $634,243 Net Income in November 2011
-------------------------------------------------------------
Alexander Gallo Holdings, LLC, et al., reported net profit of
$634,243 on $8.0 million of revenue for the month of
November 2011.

At Nov. 30, 2011, the Debtors had $191.8 million in total assets,
$230.1 million in total liabilities, and a net owners' equity
deficit of $38.3 million.  Book value of cash was $2,096,708 as of
Nov. 30, 2011, compared to $2,240,424 at Oct. 31, 2011.

A copy of the monthly operating report is available for free at:

        http://bankrupt.com/misc/alexandergallo.doc382.pdf

                      About Alexander Gallo

Marietta, Georgia-based Alexander Gallo Holdings LLC --
http://www.alexandergalloholdings.com-- is the largest full
service, IT-enabled court reporting and litigation support
services company in the United States.  AGH offers court
reporting, litigation support, trial software and other similar
services and has the only true national footprint in its market,
with roughly 55 offices located throughout the United States, and
a preferred provider network which serves as an extension of
Alexander Gallo's geographic reach.  Founded in 1999 by Alexander
J. Gallo, a former court reporter, AGH has made 18 acquisitions
since 2003.  Mr. Gallo has remained as CEO.

AGH, along with affiliates, filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 11-14220) on Sept. 7, 2011.
Alexander Gallo will sell the business via 11 U.S.C. Sec. 363 to
Bayside Capital Inc., which had acquired $22 million in second-
lien debt.  The price wasn't disclosed.

Alexander Gallo disclosed assets of $208 million and debt totaling
$258 million as of June 30, 2011.  Liabilities include $47 million
on a first-lien revolving credit and term loan where Wells Fargo
Bank NA is agent.  In addition to the second-lien debt held by
Bayside, there is $33 million in junior unsecured subordinated
notes owing to Harvest Equity Partners LLC plus another
$148 million in junior unsecured subordinated notes owing to
insider Gallo Holdings LLC.  As reported in the Troubled Company
Reporter on Nov. 1, 2011, the Alexander Gallo disclosed
$41,981,048 in assets and $259,153,046 in liabilities as of the
Chapter 11 filing.

Bayside is providing $20 million in financing for the Chapter 11
effort.  The new loan will have a first priority lien on
unencumbered assets and a lien behind the first-lien debt.

Bankruptcy Judge Allan J. Gropper presides over the case.  Thomas
R. Califano, Esq., Jeremy R. Johnson, Esq., Esq., and Daniel G.
Egan, Esq., at DLA Piper LLP (US), in New York, serve as the
Debtors' general counsel.  Squire, Sanders & Demsey (US) LLP
serves as the Debtor's corporate counsel.  The Debtors' financial
advisor is Gordian Group, LLC.  Marc L. Pfefferle, a partner at
Carl Marks Advisory Group LLC, serves as the Debtors' chief
restructuring advisor.  Kurtzman Carson Consultants LLC serves as
the Debtor's claims agent.  KPMG LLP serves as their auditors to
provide auditing, tax compliance and tax consulting services.

As reported in the TCR on Dec. 8, 2011, an affiliate of Bayside
Capital, Inc., completed the acquisition of the assets of
Alexander Gallo Holdings, LLC.


AMERICANWEST BANCORP: End December 2011 With $5.54-Mil. Cash
------------------------------------------------------------
On Jan. 13, 2011, AmericanWest Bancorporation filed with the
U.S. Bankruptcy Court for the Eastern District of Washington its
monthly operating report for December 2011.

The Debtor reported a net loss of $20,958 on $0 revenue for the
month of December.  The net loss for the month of November was
$15,361.

At Dec. 31, 2011, the Debtor had total assets of $7.0 million,
total liabilities of $47.4 million, and a stockholders' deficit
of $40.4 million.  The book balance of cash at Dec. 31, 2011,
was $5,547,525 compared to $5,596,437 at Nov. 30, 2011.

A copy of the monthly operating report is available for free at:

                       http://is.gd/MvpVEN

About AmericanWest Bancorporation

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

AmericanWest Bancorporation filed for Chapter 11 protection
(Bankr. E.D. Wash. Case No. 10-06097) on Oct. 28, 2010.  The
banking subsidiary was not included in the Chapter 11 filing.

Christopher M. Alston, Esq., and Dillon E. Jackson, Esq., at
Foster Pepper Shefelman PLLC, in Seattle, Washington, serve as
bankruptcy counsel.  G. Larry Engel, Esq., at Morrison & Foerster
LLP, also serves as counsel.

The Debtor estimated assets of $1 million to $10 million and debts
of $10 million to $50 million in its Chapter 11 petition.
AmericanWest Bancorporation's estimates exclude its banking unit's
assets and debts.  In its Form 10-Q filed with the Securities and
Exchange Commission before the Petition Date, AmericanWest
Bancorporation reported consolidated assets -- including its bank
unit's -- of $1.536 billion and consolidated debts of
$1.538 billion as of Sept. 30, 2010.

In December 2010, AmericanWest Bancorporation completed the sale
of all outstanding shares of AmericanWest Bank to a wholly owned
subsidiary of SKBHC Holdings LLC, in a transaction approved by the
U.S. Bankruptcy Court.


AMERICAN LASER: Files Initial Monthly Operating Report
------------------------------------------------------
ALC Holdings LLC, et al., have filed an initial monthly operating
report with the U.S. Bankruptcy Court for the District of
Delaware.

The Debtors submitted, among others, cash flow projections for the
period: Dec. 8, 2011, through Feb. 3, 2012.

A copy of the initial monthly operating report is available for
free at http://bankrupt.com/misc/alcholdings.initialmor.pdf

                   About American Laser Centers

ALC Holdings LLC, dba American Laser Centers, operates 156 laser
hair-removal clinics in 27 states.  At the peak, the Farmington
Hills, Michigan-based company had 222 stores generating $130.6
million in annual revenue.

ALC Holdings, along with its affiliates, filed a Chapter 11
bankruptcy petition (Bankr. D. Del. Lead Case No. 11-13853) on
Dec. 8, 2011.  Assets are $80.4 million.  Liabilities include
$40.3 million owing on a first-lien debt and $51 million in
subordinated notes.  Some $17.9 million is owing to trade
suppliers.

The Company selected Zolfo Cooper LLC as its adviser; Landis Rath
& Cobb LLP as legal counsel; Traverse LLC as restructuring
adviser; SSG Capital Advisors LLC as investment bankers; and BMC
Group as claims agent.

Prepetition, the Company signed a deal for Philadelphia-based
private equity firm Versa Capital Management LLC to acquire
assets, subject to higher and better offers at a bankruptcy court-
sanctioned auction.  Versa has agreed to pay $30 million plus
$18 million of new-money financing to support the bankruptcy,
unless outbid at an auction in January 2012.

Bellus ALC Investments 1 is represented by Nancy A. Peterman,
Esq., at Greenberg Traurig LLP.

An official committee of unsecured creditors has retained Herrick
Feinstein LLP and Ashby & Geddes, P.A., as counsel; and J.H. Cohn
LLP as financial advisor.

Albert Altro serves as the Debtors' chief restructuring officer.


ATLANTIC & PACIFIC: Reports $49.2-Mil. November Operating Loss
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Great Atlantic & Pacific Tea Co. reported a
$62 million net loss for the month ended Dec. 3 on sales of
$535.6 million.  The loss from continuing operations for the month
was $49.2 million.  Interest expense in the month was
$11.2 million while reorganization costs totaled $2.9 million.

                  About Great Atlantic & Pacific

Founded in 1859, Montvale, New Jersey-based Great Atlantic &
Pacific is a supermarket retailer, operating under a variety of
well-known trade names, or "banners" across the mid-Atlantic and
Northeastern United States.  Before filing for bankruptcy in 2010,
A&P operated 429 stores in 8 states and the District of Columbia
under the following trade names: A&P, Waldbaum's, Pathmark,
Pathmark Sav-a-Center, Best Cellars, The Food Emporium, Super
Foodmart, Super Fresh and Food Basics.  A&P had 41,000 employees
prior to the bankruptcy filing.

A&P and its affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y.
Case No. 10-24549) on Dec. 12, 2010, in White Plains, New York.
In its petition, A&P reported total assets of $2.5 billion and
liabilities of $3.2 billion as of Sept. 11, 2010.

Paul M. Basta, Esq., James H.M. Sprayregen, Esq., and Ray C.
Schrock, Esq., at Kirkland & Ellis, LLP, in New York, and James J.
Mazza, Jr., Esq., at Kirkland & Ellis LLP, in Chicago, Illinois,
serve as counsel to the Debtors.  Kurtzman Carson Consultants LLC
is the claims and notice agent.  Lazard Freres & Co. LLC is the
financial advisor.  Huron Consulting Group is the management
consultant.  Dennis F. Dunne, Esq., Matthew S. Barr, Esq., and
Abhilash M. Raval, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represent the Official Committee of Unsecured Creditors.

A&P obtained court approval for a new contract with C&S Wholesale
Grocers Inc., its principal supplier.  The contract is designed to
save A&P $50 million a year when the supermarket operator emerges
from Chapter 11 reorganization.

A&P sold 12 Super-Fresh stores in the Baltimore-Washington area
for $37.83 million, plus the value of inventory.  Thirteen other
locations didn't attract buyers at auction and were closed mid-
July 2011.

On Nov. 14, 2011, the Company filed with the Bankruptcy Court a
proposed Chapter 11 plan.  On Dec. 20, 2011, the Bankruptcy Court
approved the adequacy of information in the disclosure statement
explaining the Plan.  The deadline for voting on the Plan is
Jan. 24, 2012.  A hearing before the Bankruptcy Court on the
confirmation of the Plan is scheduled for Feb. 6, 2012.


BLITZ USA: Reports $487,587 Net Loss in November 2011
-----------------------------------------------------
Blitz U.S.A., Inc., et al., reported a net loss of $487,587 on
$5.3 million of revenue for the month ended Nov. 30, 2011.
Restructuring fees incurred in the month totaled $175,000.

The Debtors' balance sheet at Nov. 30, 2011, showed $84.8 million
in total assets, $93.8 million in total liabilities, and a
stockholders' deficit of $9.0 million.

A copy of the monthly operating report is available for free at:

         http://bankrupt.com/misc/blitzusa.nov2011mor.pdf

                          About Blitz USA

Blitz U.S.A. Inc., is a Miami, Oklahoma-based manufacturer of
plastic gasoline cans.  The company, controlled by Kinderhook
Capital Fund II LP, filed for bankruptcy protection to stanch a
hemorrhage resulting from 36 product-liability lawsuits.

Parent Blitz Acquisition Holdings, Inc., and its affiliates filed
for Chapter 11 protection (Bankr. D. Del. Case Nos. 11-13602 thru
11-13607) on Nov. 9, 2011.  The Hon. Peter J. Walsh presides over
the case.  Debtor-affiliate Blitz Acquisition estimated assets and
debts at $50 million to $100 million.

Daniel J. DeFranceschi, Esq., at Richards, Layton & Finger
represents the Debtors in their restructuring efforts.  The
Debtors tapped Zolfo Cooper, LLC, as restructuring advisor; and
Kurtzman Carson Consultants LLC serves as notice and claims agent.
Lowenstein Sandler PC from Roseland, New Jersey, represents the
Official Committee of Unsecured Creditors.

The Chapter 11 case is financed with a $5 million secured
loan from Bank of Oklahoma.  Bank of Oklahoma, as DIP agent, is
represented by Samuel S. Ory, Esq. -- sory@fdlaw.com -- at
Frederic Dorwart Lawyers in Tulsa.


BLITZ USA: Gas Can Maker Reports $980,000 December Loss
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Blitz U.S.A. Inc. reported a $306,000 loss in
December on revenue of $4.26 million.  After $675,000 in
reorganization costs, the net loss was $980,000.

                       About Blitz USA

Blitz U.S.A. Inc., is a Miami, Oklahoma-based manufacturer of
plastic gasoline cans.  The company, controlled by Kinderhook
Capital Fund II LP, filed for bankruptcy protection to stanch a
hemorrhage resulting from 36 product-liability lawsuits.

Parent Blitz Acquisition Holdings, Inc., and its affiliates filed
for Chapter 11 protection (Bankr. D. Del. Case Nos. 11-13602 thru
11-13607) on Nov. 9, 2011.  The Hon. Peter J. Walsh presides over
the case.  Debtor-affiliate Blitz Acquisition estimated assets and
debts at $50 million to $100 million.

Daniel J. DeFranceschi, Esq., at Richards, Layton & Finger
represents the Debtors in their restructuring efforts.  The
Debtors tapped Zolfo Cooper, LLC, as restructuring advisor; and
Kurtzman Carson Consultants LLC serves as notice and claims agent.

Lowenstein Sandler PC from Roseland, New Jersey, and Womble
Carlyle Sandridge & Rice, LLP, represent the Official Committee of
Unsecured Creditors.  FTI Consulting, Inc. is the restructuring
and financial advisor.

The Chapter 11 case is financed with a $5 million secured
loan from Bank of Oklahoma.  Bank of Oklahoma, as DIP agent, is
represented by Samuel S. Ory, Esq., at Frederic Dorwart Lawyers in
Tulsa.


CATHOLIC CHURCH: Milwaukee Has $7.89 Million Cash at Nov. 30
------------------------------------------------------------

                    Archdiocese of Milwaukee
                Statement of Financial Position
                     As of November 30, 2011

Current Assets
  Cash and cash equivalents                       $7,890,327.03
  Short-term investments                           3,709,942.66
  Receivables, net                                 7,468,767.46
  Other assets                                     1,347,760.13
                                                 --------------
     Total Current Assets                         20,416,797.35

Ground burial & mausoleum crypt sites              5,728,292.04

Property and equipment, net                        4,950,337.98



Investments and Other Assets
  Long-term investments                           10,927,598.53
  Cemeteries Pre-Need Trust Fund Acct              3,660,714.44
  Charitable gift annuities invest.                  688,376.87
  Other Assets                                     1,089,255.54
                                                 --------------
  Total Investments and Other Assets              16,365,945.38
                                                 --------------
     TOTAL ASSETS                                $47,461,372.75
                                                 ==============

Current Liabilities
  Current maturities of charitable
     gift annuities                                   84,328.16
  Accounts payable                                   266,434.89
  Accrued expenses                                   434,223.17
  Chapter 11 expenses                                445,023.96
  Contributions payable C.S.A.                     2,557,224.00
                                                 --------------
  Total Current Liabilities                        3,787,234.18

Charitable gift annuities                            457,088.84

Deferred revenue                                   3,660,714.44

Prepetition Debt

  Note payable                                     4,649,912.50
  Pre-Chapter 11 payables                          1,238,787.07
  Contractual contributions payable                2,850,554.00
  Accrued post-retirement and pension benefits    15,124,294.00
                                                 --------------
     Total prepetition debt                       23,863,547.57

  Total Liabilities                               31,768,585.03

Net Assets
  Unclassified current year operations             2,487,081.96

  Unrestricted
    Undesignated operating (deficit)              (4,392,883.84)
    Designated                                     5,961,166.27
                                                 --------------
  Total Unrestricted                               1,568,282.43

  Temporarily Restricted                           7,921,057.28

  Permanently Restricted                           3,716,366.05
                                                 --------------
  Total Net Assets                                15,692,787.72
                                                 --------------
  Total Liabilities and Net Assets               $47,461,372.75
                                                 ==============

Note: Invested funds held for others totaled $2,650,216.37


                    Archdiocese of Milwaukee
                    Statement of Activities
                    As of November 30, 2011

CHANCERY
Support and Revenue
  Contributions                                     $635,199.81
  Parish assessments                                 573,801.00
  Parish assessments adj. to budget                           -
  Tuition and fees                                    30,332.47
  Activities and programs                              8,010.99
  Miscellaneous revenues                              94,406.79
  Net assets released from restrictions                       -
                                                 --------------
  Total Support and Revenue                        1,341,751.06

CHANCERY OPERATING EXPENSES
  Payroll and fringe benefits                        548,439.39
  Maintenance, insurance, utility costs               69,438.33
  Travel and education                                 9,929.02
  Supplies and services                               66,893.49
  Assessments                                         31,026.00
  Purchased services                                 232,160.55
  Professional services                                3,360.55
  Charity and donations                              274,439.25
  Miscellaneous expenses                              83,817.26
  Pension related changes other than NPPC                     -
                                                 --------------
  Total Operating Expenses                         1,319,503.50

  Chancery income before fixed assets,           --------------
     non-operations gain (loss), and                 $22,247.56
     extraordinary expense

FIXED ASSETS
  Fixed asset purchases                                       -
  Depreciation expense                               (18,985.83)
  Impairment of leasehold improvements                        -
  Gain(loss) on sale of property and
     equipment, net                                           -
                                                 --------------
  Total Fixed Asset Expense (Income)                 (18,985.83)

NON-OPERATING ACTIVITIES
  Investment income                                   37,948.56
  Net realized gains(losses)                            (862.05)
  Net unrealized gains(losses)                       (40,018.52)
  Interest expense                                   (20,366.43)
  Other non-operating revenues(expenses)                      -
                                                 --------------
  Total non-operating activities                     (23,298.44)
                                                 --------------
  Extraordinary events, net                                0.00
                                                 --------------
Chancery net gain(loss)                              (20,036.71)

Reimbursed operations net gain(loss)                 (30,148.32)
                                                 --------------
Change in net assets before cumulative               (50,185.03)
  effect and cemetery operations

Cumulative effect of change in                             0.00
  accounting principle
                                                 --------------
Chancery change in net assets                        (50,185.03)

Cemetery operations
  Cemetery gain(loss)                                (44,038.83)
                                                 --------------
Cemetery change in net assets                        (44,038.83)
                                                 --------------
Total change in net assets                          ($94,223.86)
                                                 ==============


                    Archdiocese of Milwaukee
                         Cash Receipts
             For the month ending November 30, 2011

Receipt Category
  Contributions                                     $615,135.76
  Assessments                                                 -
  Tuition and fees                                    38,748.46
  Cemetery cash receipts/transfers                   486,903.56
  Investment income                                       70.33
  Realized gains                                              -
  Gains on sales and fixed assets                             -
  Miscellaneous revenues                              72,419.55
  Clearing                                             2,335.00
  A/R & N/R payments                                 774,301.53
                                                 --------------
  Total Receipts                                  $1,989,914.19
                                                 ==============

Notes: Funds transferred in from other
      Archdiocesan accounts                       $2,061,664.70
      Funds held for others                                   -


                    Archdiocese of Milwaukee
                       Cash Disbursements
             For the month ending November 30, 2011

Disbursements Category
  Salary and wages                                  $463,908.55
  Payroll taxes                                      162,923.08
  Employee benefits                                  282,216.00
  Employee withholdings                               36,121.92
  Facility and operating                             260,805.59
  Travel and education                                17,985.77
  Supplies                                            75,097.73
  Assessments                                         31,026.00
  Purchased services                                 243,495.76
  Legal/Professional                                 358,896.24
  Grants                                             274,439.25
  Interest and bank fees                              21,398.66
  Other                                              150,465.96
  Reimbursed expense                                 102,558.93
  Clearing                                            25,630.00
  Fee assistance                                              -
                                                 --------------
  Total Disbursements                             $2,506,969.44
                                                 ==============

Notes: Funds transferred in from other
      Archdiocesan accounts                       $2,061,664.70
      Funds held for others                          ($2,282.32)

               About the Archdiocese of Milwaukee

The Diocese of Milwaukee was established on Nov. 28, 1843, and
was elevated to an Archdiocese on Feb. 12, 1875, by Pope Pius
IX.  The region served by the Archdiocese consists of 4,758 square
miles in southeast Wisconsin which includes counties Dodge, Fond
du Lac, Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth,
Washington and Waukesha.  There are 657,519 registered Catholics
in the Region.

The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Wisc. Case No.
11-20059) on Jan. 4, 2011, to address claims over sexual abuse
by priests on minors.

The Archdiocese became at least the eighth Roman Catholic diocese
in the U.S. to file for bankruptcy to settle claims from current
and former parishioners who say they were sexually molested by
priests.

Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in
Milwaukee, Wisconsin, serves as the Archdiocese's counsel.  The
Official Committee of Unsecured Creditors in the bankruptcy case
has retained Pachulski Stang Ziehl & Jones LLP as its counsel, and
Howard, Solochek & Weber, S.C., as its local counsel.

The Archdiocese estimated assets and debts of $10 million to
$50 million in its Chapter 11 petition.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


CHEF SOLUTIONS: Posts $19.2 Million Net Loss in November 2011
-------------------------------------------------------------
Chef Solutions Holdings, LLC, et al., reported a net loss of
$19.2 million on $12.5 million of sales for the month ended
Nov. 30, 2011.  Loss before reorganization items and taxes was
$2.7 million in the month.  The Debtors incurred a total of
$2.7 million in professional fees in the month.  The net loss
includes a loss of $13.8 million related to the sale of assets to
Reser's.

At Nov. 30, 2011, the Debtors' balance sheet showed $14.5 million
in total assets, $49.1 million in total liabilities, and a
member's deficit of 34.6 million.

A copy of the November 2011 operating report is available for free
at http://bankrupt.com/misc/chefsolutions.nov2011mor.pdf

                       About Chef Solutions

Chef Solutions Inc., through subsidiary Orval Kent Food, is the
second largest manufacturer in North America of fresh prepared
foods for retail, foodservice and commercial channels.

Chef Solutions and its affiliates filed for Chapter 11 protection
(Bankr. D. Del. Case No. 11-13139) on Oct. 4, 2011, with the aim
of selling the business to a joint venture between Mistral Capital
Management LLC and Reser's Fine Foods Inc.  Debtor Orval Kent Food
Company disclosed $82,902,336 in assets and $126,085,311 in
liabilities in its schedules.

Judge Kevin Gross presides over the case.  Lawyers at Richards,
Layton & Finger, P.A., serve as the Debtors' bankruptcy counsel.
Donlin Recano is the claims and notice agent.  Piper Jaffray & Co.
has been hired as investment banker.  PricewaterhouseCoopers
serves as financial advisor.

A joint venture between Mistral Capital Management LLC and Reser's
Fine Foods Inc. has signed a contract to buy the business for
$36.4 million in cash and $25.3 million in secured debt.  The deal
is subject to higher and better offers.

Lowenstein Sandler PC and Polsinelli Shughart serve as counsel to
the creditors' committee appointed in the case.  Mesirow Financial
Consulting, LLC, is the financial advisor.


DYNEGY INC: Holdings Has $72-Million Loss in November
-----------------------------------------------------
Dynegy Holdings LLC and its Debtor affiliates submitted to the
Court on Dec. 22, 2011, their monthly operating report for
November 2011.

Dynegy Holdings and Dynegy Northeast Generation disclosed that
they had $12,148,240 cash at the start of the month, $3,596,199
in total receipts, $2,721,517 in total disbursements, and
$13,022,922 in cash at the end of the month.

The Debtors separately disclosed their net income for the month
ended Nov. 30, 2011:

  Dynegy Northeast Generation     ($1,497,703)
  Dynegy Roseton                  ($4,524,859)
  Dynegy Danskammer               ($2,403,735)
  Dynegy Holdings                ($72,047,030)

Dynegy Holdings disclosed that as of Nov. 30 it had
$7,414,904,006 in total assets, $6,698,756,394 in total
liabilities, and $716,147,613 in total shareholders' equity.

Dynegy Northeast Generation disclosed that as of Nov. 30, it had
$689,618,116 in total assets, ($554,131,469) in total
liabilities, and $1,243,749,858 in total shareholders' equity.

Dynegy Roseton disclosed that as of Nov. 30, it had $24,150,990
in total assets, $652,240,874 in total liabilities, and
($628,089,884) in total shareholders' equity.

Dynegy Danskammer disclosed that as of Nov. 30, it had
$36,268,875 in total assets, $328,371,374 in total liabilities,
and ($292,102,499) in total shareholders' equity.

Hudson Power disclosed that as of Nov. 30, it had $285,551,300 in
total assets, $0 in total liabilities, and $285,551,300 in total
shareholders' equity.

A full-text copy of the Monthly Operating Report is available for
free at http://bankrupt.com/misc/DynegyNov11MOR.pdf

                        About Dynegy Inc.

Through its subsidiaries, Houston, Texas-based Dynegy Inc.
(NYSE: DYN) -- http://www.dynegy.com/-- produces and sells
electric energy, capacity and ancillary services in key U.S.
markets.  The power generation portfolio consists of approximately
12,200 megawatts of baseload, intermediate and peaking power
plants fueled by a mix of natural gas, coal and fuel oil.

In August, Dynegy implemented an internal restructuring that
created two units, one owning eight primarily natural gas-fired
power generation facilities and another owning six coal-fired
plants.

Dynegy missed a $43.8 million interest payment Nov. 1, 2011, and
said it was discussing options for managing its debt load with
certain bondholders.

Dynegy Holdings LLC and four other affiliates of Dynegy Inc.
sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Lead Case
No. 11-38111) Nov. 7 to implement an agreement with a
group of investors holding more than $1.4 billion of senior notes
issued by Dynegy's direct wholly-owned subsidiary, Dynegy
Holdings, regarding a framework for the consensual restructuring
of more than $4.0 billion of obligations owed by DH.  If this
restructuring support agreement is successfully implemented, it
will significantly reduce the amount of debt on the Company's
consolidated balance sheet.

Dynegy Holdings disclosed assets of $13.77 billion and debt of
$6.18 billion, while Roseton LLC and Dynegy Danskammer LLC each
estimated $100 million to $500 million in assets and debt.

Dynegy Holdings and its affiliated debtor-entities are represented
in the Chapter 11 proceedings by Sidley Austin LLP as their
reorganization counsel.  Dynegy and its other subsidiaries are
represented by White & Case LLP, who is also special counsel to
the Debtor Entities with respect to the Roseton and Danskammer
lease rejection issues.

Dynegy was advised by Lazard Freres & Co. LLC and the Debtor
Entities' financial advisor is FTI Consulting.

The Official Committee of Unsecured Creditors has tapped Akin Gump
Strauss Hauer & Feld LLP as counsel nunc pro tunc to November 16,
2011.

Bankruptcy Creditors' Service, Inc., publishes DYNEGY BANKRUPTCY
NEWS.  The newsletter tracks the Chapter 11 proceeding undertaken
by affiliates of Dynegy Inc. (http://bankrupt.com/newsstand/or
215/945-7000)


DYNEGY INC: Has $32.5-Million Cash at Dec. 31
---------------------------------------------
Dynegy Holdings LLC and its Debtor affiliates submitted to the
Court on Jan. 25, 2011, their monthly operating report for
the month ended December 31, 2011.

Dynegy Holdings and Dynegy Northeast Generation disclosed that
they had $13,023,000 cash at the start of the month, $28,274,000
in total receipts, $8,842,000 in total disbursements, and
$32,455,000 in cash at the end of the month.

The Debtors separately disclosed their net income(loss) for the
month ended Dec. 31, 2011:

Dynegy Northeast Generation   ($971,880,000)
Dynegy Roseton                 $571,933,000
Dynegy Danskammer               $88,139,000
Dynegy Holdings               ($635,053,000)

Dynegy Holdings disclosed that as of Dec. 31 it had
$7,146,457,000 in total assets, $6,698,756,000 in total
liabilities, and $113,166,000 in total shareholders' equity.

Dynegy Northeast Generation disclosed that as of Dec. 31, it had
$290,050,000 in total assets, $21,470,000 in total liabilities,
and $268,050,000 in total shareholders' equity.

Dynegy Roseton disclosed that as of Dec. 31, it had $18,470,000
in total assets, $75,759,000 in total liabilities, and
($57,290,000) in total shareholders' equity.

Dynegy Danskammer disclosed that as of Dec. 31, it had
$27,281,000 in total assets, $231,420,000 in total liabilities,
and ($204,139,000) in total shareholders' equity.

Hudson Power disclosed that as of Dec. 31, it had $285,551,000 in
total assets, $0 in total liabilities, and $285,551,000 in total
shareholders' equity.

A full-text copy of the Monthly Operating Report is available for
free at http://bankrupt.com/misc/DynegyDec11MOR.pdf

                        About Dynegy Inc.

Through its subsidiaries, Houston, Texas-based Dynegy Inc.
(NYSE: DYN) -- http://www.dynegy.com/-- produces and sells
electric energy, capacity and ancillary services in key U.S.
markets.  The power generation portfolio consists of approximately
12,200 megawatts of baseload, intermediate and peaking power
plants fueled by a mix of natural gas, coal and fuel oil.

In August, Dynegy implemented an internal restructuring that
created two units, one owning eight primarily natural gas-fired
power generation facilities and another owning six coal-fired
plants.

Dynegy missed a $43.8 million interest payment Nov. 1, 2011, and
said it was discussing options for managing its debt load with
certain bondholders.

Dynegy Holdings LLC and four other affiliates of Dynegy Inc.
sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Lead Case
No. 11-38111) Nov. 7 to implement an agreement with a
group of investors holding more than $1.4 billion of senior notes
issued by Dynegy's direct wholly-owned subsidiary, Dynegy
Holdings, regarding a framework for the consensual restructuring
of more than $4.0 billion of obligations owed by DH.  If this
restructuring support agreement is successfully implemented, it
will significantly reduce the amount of debt on the Company's
consolidated balance sheet.

Dynegy Holdings disclosed assets of $13.77 billion and debt of
$6.18 billion, while Roseton LLC and Dynegy Danskammer LLC each
estimated $100 million to $500 million in assets and debt.

Dynegy Holdings and its affiliated debtor-entities are represented
in the Chapter 11 proceedings by Sidley Austin LLP as their
reorganization counsel.  Dynegy and its other subsidiaries are
represented by White & Case LLP, who is also special counsel to
the Debtor Entities with respect to the Roseton and Danskammer
lease rejection issues.

Dynegy was advised by Lazard Freres & Co. LLC and the Debtor
Entities' financial advisor is FTI Consulting.

Bankruptcy Creditors' Service, Inc., publishes DYNEGY BANKRUPTCY
NEWS.  The newsletter tracks the Chapter 11 proceeding undertaken
by affiliates of Dynegy Inc. (http://bankrupt.com/newsstand/or
215/945-7000)


EMIVEST AEROSPACE: Ends November 2011 With $106,325 Cash
--------------------------------------------------------
Emivest Aerospace Corporation reported a net loss of $2.1 million
on $0 revenue for November 2011.

At Nov. 30, 2011, the Debtor had $447,189 in total assets,
$82.5 million in total liabilities, and a shareholders' deficit of
$82.1 million.  The Debtor ended the period with $106,325 cash,
compared to beginning cash of $147,266.

A copy of the November 2011 monthly operating report is available
for free at:

     http://bankrupt.com/misc/emivestaerospace.nov2011mor.pdf

                     About Emivest Aerospace

Emivest Aerospace Corporation -- http://www.sj30jet.com/-- is a
U.S.-based aircraft manufacturing company and a subsidiary of
Emirates Investment & Development PSC.  Emivest Aerospace
Corporation produces the SJ30 light jet.

Emivest Aerospace Corporation filed for Chapter 11 protection
(Bankr. D. Del. Case No. 10-13391) on Oct. 20, 2010.  Emivest
disclosed $80,700,232 in assets and $77,333,546 in liabilities as
of the Chapter 11 filing.

Daniel B. Butz, Esq., at Morris, Nichols, Arsht & Tunnell LLP, in
Wilmington, Delaware, serves as counsel to the Debtor.  Morgan
Joseph & Co. Inc. is the financial advisor to the Debtor.  The
Debtor also hired DLA Piper LLP (US) as special counsel to assist
in the marketing of its assets.  Attorneys at Pachulski Stang
Ziehl & Jones LLP serve as counsel to the Official Committee of
Unsecured Creditors.  Deloitte Financial Services LLP is the
Committee's financial advisor.


FRIENDLY ICE: Reports $18.9-Mil. Net Loss in Month Ended Nov. 27
----------------------------------------------------------------
Friendly Ice Cream Corp., et al., reported a net loss of
$18.9 million on $29.9 million of revenues for the reporting
period ended Nov. 27, 2011.

At Nov. 27, 2011, the Debtors had $257.3 million in total assets,
$501.3 million in total liabilities, and a stockholders' deficit
of $244.0 million.

A copy of the November 2011 operating report is available for free
at http://bankrupt.com/misc/friendlyice.nov272011mor.pdf

                     About Friendly Ice Cream

Friendly Ice Cream Corp. -- http://www.friendlys.com/-- the owner
and franchiser of 490 full-service, family-oriented restaurants
and provider of ice cream products in the Eastern United States,
filed for Chapter 11 reorganization together with four affiliates
(Bankr. D. Del. Lead Case No. 11-13167) on Oct. 5, 2011, to sell
the business mostly in exchange for debt to Sundae Group Holdings
II LLC, a unit of Sun Capital Partners Inc.  The existing owner
and holder of the Debtors' second-lien debt are also affiliates of
Sun Capital.  Friendly's, based in Wilbraham, Massachusetts, also
announced the closing of 63 stores, leaving about 424 operating.
Franchise operators have about 230 of the locations.

Judge Kevin Gross oversees the case.  James A. Stempel, Esq.,
Ross M. Kwasteniet, Esq., and Jeffrey D. Pawlitz, Esq., at
Kirkland & Ellis LLP; and Laura Davis Jones, Esq., Timothy P.
Cairns, Esq., and Kathleen P. Makowski, Esq., at Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.
Zolfo Cooper serves as the Debtors' financial advisors.

In its petition, Friendly Ice Cream Corp. estimated $100 million
to $500 million in assets and debts.  The petitions were signed by
Steven C. Sanchioni, executive vice president, chief financial
officer, treasurer, and assistant secretary.

Sundae Group Holdings proposes to pay about $120 million for the
business.  The price includes enough cash to pay first-lien debt
and an amount of cash for unsecured creditors to be negotiated
with the official creditors' committee.  Aside from cash, Sun
Capital will make a credit bid from the $267.7 million in second-
lien, pay-in-kind notes.

The bid from Sun Capital is subject to higher and better offers
at an auction.  Under the proposed time-line, bids would be due
Nov. 24, followed by an auction on Dec. 1.  A competing bid must
be at least $122.6 million in cash.

Friendly's is one of two companies under Sun Capital's portfolio
to file for bankruptcy in a span of two days.  Mexican-food chain
Real Mex, which operates restaurants such as Chevys, filed in
Delaware bankruptcy court on Oct. 3, 2011.

On Oct. 12, 2011, the U.S. Trustee appointed the Committee.  The
Committee currently consists of seven members.  The Committee
selected Akin Gump Straus Hauer & Feld LLP and Blank Rome LLP to
serve as co-counsel to the Committee, and FTI Consulting to serve
as the Committee's financial advisor.


GETTY PETROLEUM: Reports $4.4-Mil. December Operating Loss
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Getty Petroleum Marketing Inc. reported a $4.44
million operating loss and a $5.24 million net loss from the
filing of the Chapter 11 petition on December 5 through the end of
the month.  Revenue in the period was $44.44 million. Getty
Petroleum ended the month with $2.3 million cash and $15.3 million
restricted cash on the balance sheet.

                       About Getty Petroleum

A remnant of J. Paul Getty's oil empire, Getty Petroleum Marketing
markets gasoline, hydraulic fluids, and lubricating oils through
a network of gas stations owned and operated by franchise holders.
A former subsidiary of Russian oil giant LUKOIL, the company
operates in the Mid-Atlantic and Northeastern US states. Getty
Petroleum Marketing's primary asset is the more than 800 gas
stations in the Mid-Atlantic states which are located on
properties owned by Getty Realty. After scaling back the company's
operations to cut debt, in 2011 LUKOIL sold Getty Petroleum
Marketing to investment firm Cambridge Petroleum Holding for an
undisclosed price.

Getty Petroleum and three affiliates filed for Chapter 11
bankruptcy (Bankr. S.D.N.Y. Case Nos. 11-15606 to 11-15609) on
Dec. 5, 2011.  Judge Shelley C. Chapman presides over the case.
John H. Bae, Esq., at Greenberg Traurig, LLP, serves as the
Debtors' counsel.  Getty Petroleum estimated $50 million to $100
million in assets and debts.  The petition was signed by Bjorn Q.
Aaserod, chief executive officer and chairman of the board.


GSC GROUP: Ends November 2011 With $14.4-Mil. Cash
--------------------------------------------------
GSC Group, Inc., and affiliated entities filed on Dec. 29, 2011,
a monthly operating report for November 2011.

GSCP, LLC, GSCP Group, Inc., GSC Active Partners, Inc., GSCP (NJ),
Inc., GSCP (NJ) Holdings, L.P., and GSC Secondary Interest Fund
had no income or expense transactions for the month of
November 2011.

GSCP (NJ), L.P., reported a net loss of $1.2 million on $36,518 of
revenue for the month.

The Debtors had total cash of $14,403,953 at Nov. 30, 2011,
compared to $15,114,787 at the beginning of the month.  The
Debtors paid $651,978 in professional fees during the month.

A copy of the November 2011 monthly operating report is available
for free at http://bankrupt.com/misc/gscgroup.doc1060.pdf

                         About GSC Group

Florham Park, New Jersey-based GSC Group, Inc. --
http://www.gsc.com/-- was a private equity firm that specialized
in mezzanine and fund of fund investments.  Originally named
Greenwich Street Capital Partners Inc. when it was a subsidiary of
Travelers Group Inc., GSC became independent in 1998 and at one
time had $28 billion of assets under management.  Market reverses,
termination of some funds, and withdrawal of customers'
investments reduced funds under management at the time of
bankruptcy to $8.4 billion.

GSC Group, Inc., filed for Chapter 11 bankruptcy protection
(Bankr. S.D.N.Y. Case No. 10-14653) on Aug. 31, 2010.  Michael B.
Solow, Esq., at Kaye Scholer LLP, served as the Debtor's
bankruptcy counsel.  Epiq Bankruptcy Solutions, LLC, is the
Debtor's notice and claims agent.  Capstone Advisory Group LLC
served as the Debtor's financial advisor.  The Debtor estimated
its assets at $1 million to $10 million and debts at $100 million
to $500 million as of the Chapter 11 filing.

Since Jan. 7, 2011, the Debtors have been operated by James L.
Garrity Jr., as Chapter 11 trustee for the Debtors.  The Chapter
11 trustee tapped Shearman & Sterling LLP as his counsel, and
Togut, Segal & Segal LLP as his conflicts counsel.

No committee of unsecured creditors has been appointed in the
case.

The Chapter 11 trustee completed the sale of business in July 2011
and filed a liquidating Chapter 11 plan and explanatory disclosure
statement in late August.  The bankruptcy court authorized the
trustee to sell the business to Black Diamond Capital Finance LLC,
as agent for the secured lenders.  Proceeds were used to pay
secured claims.  The price paid by the lenders' agent was designed
for full payment on $256.8 million in secured claims, with
$18.6 million cash left over.  Black Diamond bought most assets
with a $224 million credit bid, a $6.7 million note, $5 million
cash, and debt assumption.  A minority group of secured lenders
filed an appeal from the order allowing the sale.  Through a suit
in state court, the minority lenders failed to halt Black Diamond
from completing the sale.

The Chapter 11 Trustee and Black Diamond have filed rival
repayment plans for GSC Group.  As reported in the TCR on Dec. 16,
2011, Hilary Russ at Bankruptcy Law360 related that the Chapter 11
trustee for GSC Group, Inc., reached a handshake deal on Dec. 13,
2011, ending a bitter dispute with Black Diamond that delayed a
$235 million asset sale.

Adam Goldberg, Esq., and Douglas Bacon, Esq., at Latham & Watkins,
represent Black Diamond Capital Management, LLC, as counsel.
Patrick J. Nash, Jr., Esq. and Paul Wierbicki, Esq. of Kirkland &
Ellis LLP serve as counsel to Black Diamond Capital Management,
LLC.


HUSSEY COPPER: Files Operating Reports for Sept. 27 - Oct. 31
-------------------------------------------------------------
Hussey Copper Corp., et al., filed their monthly operating reports
for the reporting period: September 27 ? October 31, 2011.

Hussey Copper Corp. (Case No. 11-13010) reported a net loss of
$25,000 on $45,000 of total revenue for the reporting period
Sept. 27 to Oct. 31, 2011.

At Oct. 31, 2011, Hussey Copper Corp. had $810,000 in total
assets, $2,000 total current liabilities, and stockholders' equity
of $808,000.

A copy of the operating report is available for free at:

    http://bankrupt.com/misc/husseycopper.sept27-oct31mor.pdf

Hussey Copper Ltd. (Case No. 11-13012) reported a net loss of
$2.0 million on $6.6 million of total revenue for the reporting
period Sept. 27 to Oct. 31, 2011.

At Oct. 31, 2011, Hussey Copper Ltd. had $78.7 million in total
assets, $83.6 million in total liabilities, and a partners'
deficit of $4.9 million.

A copy of the operating report is available for free at:

   http://bankrupt.com/misc/husseycopperltd.sept27-oct31mor.pdf

OAP Real Estate, LLC (Case No. 11-13013) reported net income of
$4,000 on $4,000 of total revenue for the reporting period
Sept. 27 to Oct. 31, 2011.

At Oct. 31, 2011, OAP Real Estate had $1.53 million in total
assets, $1,000 in total liabilities, and an equity deficit of
$1.53 million.

A copy of the operating report is available for free at:

    http://bankrupt.com/misc/oaprealestate.sept27-oct31mor.pdf

Cougar Metals, Inc. (Case  No. 11-13014) reported net income of
$42,000 on $107,000 of total revenue for the reporting period
Sept. 27 to Oct. 31, 2011.

At Oct. 31, 2011, Cougar Metals had $1.04 million in total assets,
$1.88 million in total liabilities, and a stockholders' deficit of
$740,000.

A copy of the operating report is available for free at:

    http://bankrupt.com/misc/cougarmetals.sept27-oct31mor.pdf

Orbie Trading, L.P. (Case No. 11-13015) reported $0 income on $0
revenues for the reporting period Sept. 27 to Oct. 31, 2011.

At Oct. 31, 2011, Orbie Trading had $263,000 in total assets, and
partners' equity of $263,000.

A copy of the operating report is available for free at:

    http://bankrupt.com/misc/orbietrading.sept27-oct31mor.pdf

Hussey Copper Corp., based in Leetsdale, Pennsylvania, is one of
the leading manufacturers of copper products in the United States.
Hussey Copper was founded in Pittsburgh in 1848.  The Company and
its affiliates, which operate one manufacturing facility in
Leetsdale and two facilities in Eminence, Kentucky, manufacture a
wide range of value-added copper products and copper-nickel
products.  The Company has more than 500 full-time employees.

Hussey Copper Corp. filed a Chapter 11 petition (Bankr D. Del.
Case No. 11-13010) on Sept. 27, 2011, with a deal to sell
substantially all assets.  Five other affiliates also filed
separate petitions (Case Nos. 11-13012 to 11-13016). Hussey
Copper Ltd. estimated $100 million to $500 million in assets and
debts.  Hussey Copper Corp. estimated up to $50,000 in assets and
up to $100 million in debts.

Mark Minuti, Esq., at Saul Ewing LLP, serves as counsel to the
Debtors.  Donlin Recano & Company Inc. is the claims and notice
agent.

An official creditors' committee has been appointed in the case.
The panel selected Lowenstein Sandler PC as counsel.  The panel
selected FTI Consulting, Inc. as restructuring and financial
advisor.

The stalking horse bidder, KHC Acquisitions LLC, a unit of Kataman
Metals LLC, is represented in the case by David D. Watson, Esq.,
and Scott Opincar, Esq., at McDonald Hopkins LLC, in Cleveland.

Counsel to PNC Bank NA, as lender, issuer and agent for the
Debtors' secured lenders, are Lawrence F. Flick II, Esq., Blank
Rome LLP, in New York, and, Regina Stango Kelbon, Esq., at Blank
Rome LLP, in Wilmington.


IMPERIAL BANCORP: Posts $228,970 Net Loss in November 2011
----------------------------------------------------------
On Nov. 21, 2011, and Dec. 20, 2011, Imperial Capital Bancorp,
Inc., filed its unaudited monthly operating reports for the months
of October and November 2011 with the Office of the United States
Trustee.

The Company reported a net loss of $228,970 on $0 revenue for
November 2011.

At Nov. 30, 2011, the Company had $39.2 million in total assets,
$99.6 million in total liabilities, and a stockholders' deficit of
$60.4 million.

A copy of the October 2011 operating report is available for free
at http://is.gd/GFXUiB

The Company reported a net loss of $291,649 on $0 revenue for
October 2011.

At Oct. 31, 2011, the Company had $39.6 million in total assets,
$99.7 million in total liabilities, and a stockholders' deficit of
$60.1 million.

A copy of the October 2011 operating report is available for free
at http://is.gd/GFXUiB

                  About Imperial Capital Bancorp

La Jolla, California-based Imperial Capital Bancorp, Inc., filed
for Chapter 11 bankruptcy protection (Bankr. S.D. Calif. Case No.
09-19431) on Dec. 18, 2009.  Gregory K. Jones, Esq., at Stutman,
Treister & Glatt, P.C., serves as the Company's bankruptcy
counsel.  FTI Consulting Inc. serves as its financial advisor.
The Company disclosed $40.4 million in assets and $98.7 million in
liabilities.

Tiffany L. Carroll, the U.S. Trustee for Region 15, appointed
three members to the official committee of unsecured creditors in
the Debtor's case.

The Debtor's proposed Liquidating Plan of Reorganization provides
that based upon assets available for distribution, creditors of
the Company will not be paid in full under the Plan.  The Company
predicts that, after payment to the Company's unsecured creditors,
there will be no assets available for distribution to the holders
of the Company's common stock.


INNER CITY: Files Monthly Operating Reports for November 2011
-------------------------------------------------------------
Inner City Media Corporation, et al., filed on Dec. 30, 2011,
their monthly operating reports for the period Nov. 1, 2011, to
Nov. 30, 2011.

Inner City Media Corporation did not include a Statement of
Operations in its monthly operating report.

Inner City Media's balance sheet at Nov. 30, 2011, showed
($95.5) million in total assets, $0 liabilities, and a net owners'
equity deficit of $95.5 million.

A copy of Inner City Media's balance sheet is available for free
at http://bankrupt.com/misc/innercitymedia.doc249.pdf

ICBC Broadcast Holdings, Inc., reported a net loss of $2.3 million
on $nil revenue for the period.

ICBC Broadcast Holdings' balance sheet at Nov. 30, 2011, showed
$42.4 million in total assets, $261.4 million in total
liabilities, and a net owners' equity deficit of $219.0 million.

A copy of ICBC Broadcast Holdings' monthly operating report is
available for free at:

    http://bankrupt.com/misc/icbcbroadcastholdings.doc250.pdf

ICBC Broadcast Holdings,CA, Inc., reported net income of $256,333
on $1.0 million of net revenue for the period.

ICBC Broadcast Holdings,CA's balance sheet at Nov. 30, 2011,
showed $92.7 million in total assets, $1.8 million in total
liabilities, and net owners' equity of $90.9 million.

A copy of ICBC Broadcast Holdings,CA's monthly operating report is
available for free at:

   http://bankrupt.com/misc/icbcbroadcastholdings,ca.doc252.pdf

ICBC-NY, LLC, reported net income of $1.1 million on $2.7 million
of revenues for the period.

ICBC-NY's balance sheet at Nov. 30, 2011, showed $92.2 million in
total assets, $3.0 million in total liabilities, and net owners'
equity of $89.2 million.

A copy of ICBY-NY's monthly operating report is available for free
at http://bankrupt.com/misc/icbc-nyllc.doc253.pdf

Urban Radio of Mississippi, LLC, reported net income of $117,749
on $486,354 of net revenue for the period.

Urban Radio of Mississippi's balance sheet at Nov. 30, 2011,
showed ($9.1) million in total assets, $497,712 in total
liabilities, and a net owners' equity deficit of $9.6 million.

A copy of Urban Radio of Mississippi's monthly operating report is
available for free at:

   http://bankrupt.com/misc/urbanradioofmississippi.doc259.pdf

Urban Radio of South Carolina, LLC, reported net income of
$188,892 on $715,015 of net revenue for the period.

Urban Radio of South Carolina's balance sheet at Nov. 30, 2011,
showed ($37.5) million in total assets, $847,701 million in total
liabilities, and a net owners' equity deficit of $38.4 million.

A copy of Urban Radio of South Carolina's monthly operating report
is available for free at:

  http://bankrupt.com/misc/urbanradioofsouthcarolina.doc260.pdf

                   About Inner City Media Corp.

On Aug. 23, 2011, affiliates of Yucaipa and CF ICBC LLC, Fortress
Credit Funding I L.P., and Drawbridge Special Opportunities Fund
Ltd., signed involuntary Chapter 11 petitions for Inner City Media
Corp. and its affiliates (Bankr. S.D.N.Y. Case Nos. 11-13967 to
11-13979) to collect on a $254 million debt.

The Petitioning Creditors are party to the senior secured credit
Facility pursuant to which they (or their predecessors in
interest) extended $197 million in loans to the Alleged Debtors to
be used for general corporate purposes.  More than two years ago,
the Alleged Debtors defaulted under the Senior Secured Credit
Facility, and in any event the entire amount of principal and
accrued and unpaid interest and fees became immediately due and
payable on Feb. 13, 2010.

Inner City Media's affiliates subject to the involuntary Chapter
11 are ICBC Broadcast Holdings, Inc., Inner-City Broadcasting
Corporation of Berkeley, ICBC Broadcast Holdings-CA, Inc., ICBC-
NY, L.L.C., ICBC Broadcast Holdings-NY, Inc., Urban Radio, L.L.C.,
Urban Radio I, L.L.C., Urban Radio II, L.L.C., Urban Radio III,
L.L.C., Urban Radio IV, L.L.C., Urban Radio of Mississippi,
L.L.C., and Urban Radio of South Carolina, L.L.C.

Judge Shelley C. Chapman granted each of Inner City Media
Corporation and its debtor affiliates relief under Chapter 11 of
the United States Code.  The decision came after considering the
involuntary petitions, and the Debtors' answer to involuntary
petitions and consent to entry of order for relief and reservation
of rights.

Attorneys for Yucaipa Corporate Initiatives Fund II, L.P. and
Yucaipa Corporate Initiatives (Parallel) Fund II, L.P. are John J.
Rapisardi, Esq., and Scott J. Greenberg, Esq., at Cadwalader,
Wickersham & Taft LLP.  Attorneys for CF ICBC LLC, Fortress Credit
Funding I L.P., and Drawbridge Special Opportunities Fund Ltd. are
Adam C. Harris, Esq., and Meghan Breen, Esq., at Schulte Roth &
Zabel LLP.

Akin Gump Strauss Hauer & Feld LLP serves as the Debtors' counsel.

Rothschild Inc. serves as the Debtors' financial advisors and
investment bankers.  GCG Inc. serves as the Debtors' claims agent.

The United States Trustee said that an official committee under 11
U.S.C. Sec. 1102 has not been appointed in the bankruptcy case of
Inner City Media because an insufficient number of persons holding
unsecured claims against the Debtor has expressed interest in
serving on a committee.


IRWIN MORTGAGE: Ends November 2011 With $5.33-Mil. Cash
-------------------------------------------------------
Irwin Mortgage Corporation filed on Dec. 21, 2011, its monthly
operating report for November 2011.

The Debtor submitted a cash receipts & disbursements summary for
November, disclosing:

     Beginning Cash                  $5,337,940
     Receipts                            $1,546
     Disbursements                           $0
     Net Receipts (Disbursement)         $1,546
     Ending Cash                     $5,339,486

A copy of the monthly operating report is available for free at:

        http://bankrupt.com/misc/irwinmortgage.doc204.pdf

                       About Irwin Mortgage

For a number of years, Irwin Mortgage Corporation, based in
Dublin, Ohio, originated, purchased, sold and serviced
conventional and government agency backed residential mortgage
loans throughout the United States.  However, in 2006 and
continuing into early 2007, IMC sold substantially all of its
assets, including its mortgage origination business, its mortgage
servicing business, and its mortgage servicing rights portfolio,
to a number of third party purchasers.  As a result of those
sales, IMC terminated its operations and has been winding down
since 2006.

Irwin Mortgage filed for Chapter 11 bankruptcy (Bankr. S.D. Ohio
Case No. 11-57191) on July 8, 2011.  Judge Charles M. Caldwell
presides over the case. In its petition, the Debtor estimated
assets of $10 million to $50 million, and debts of $50 million to
$100 million.  The petition was signed by Fred C. Caruso,
president.

Nick V. Cavalieri, Esq., and Matthew T. Schaeffer, Esq., at Bailey
Cavalieri LLC, serve as the Debtor's counsel.  Fred C. Caruso and
Development Specialists Inc. provide wind-down management services
to the Debtor.


LOWER BUCKS: Files November 2011 Monthly Operating Report
---------------------------------------------------------
Lower Bucks Hospital, Inc., filed on Jan. 10, 2012, its monthly
operating report for the month of November 2011.

The November report did not include the Debtor's Income Statement
and Balance Sheet.

Disbursements in the month totaled $7,363,907.

A copy of the November 2011 operating report is available for free
at http://bankrupt.com/misc/lowerbuckshospital.doc1639.pdf

                     About Lower Bucks Hospital

Lower Bucks Hospital is a non-profit hospital based in Bristol,
Pennsylvania.  The Hospital is currently licensed to operate 183
beds.  Together with affiliates Advanced Primary Care Physicians
and Lower Bucks Health Enterprises, Inc., Lower Bucks owns a 36-
acre campus with several medical facilities.  The Hospital's
emergency room serves 30,000 patients annually.  For the fiscal
year ending June 30, 2009, Lower Bucks had $114 million in
consolidated revenues.

The Hospital filed for Chapter 11 bankruptcy protection (Bankr.
E.D. Pa. Case No. 10-10239) on Jan. 13, 2010.  The Hospital's
affiliates -- Lower Bucks Health Enterprises, Inc, and Advanced
Primary Care Physicians -- also filed Chapter 11 petitions.
Jeffrey C. Hampton, Esq., and Adam H. Isenberg, at Saul Ewing LLP,
in Philadelphia, assist the Hospital in its restructuring effort.
Donlin, Recano & Company, Inc., is the Hospital's claims and
notice agent.  The Debtors tapped Zelenkofske Axelrod LLC for tax
preparation services.  The Hospital estimated assets and
liabilities at $50 million to $100 million.

Regina Stango Kelbon, Esq., at Blank Rome LLP, in Philadelphia,
represents the Official Committee of Unsecured Creditors as
counsel.


LOWER BUCKS: Posts $15,604 Net Loss in November 2011
----------------------------------------------------
Lower Bucks Health Enterprises, Inc., reported a net loss of
$15,604 on $48,809 of net operating revenue for the month ended
Nov. 30, 2011.

The Company's balance sheet at Nov. 30, 2011, showed $6.9 million
in total assets, $371,941 in total current liabilities, and an
unrestricted fund balance of $6.5 million.

A copy of the November 2011 monthly operating report is available
for free at http://bankrupt.com/misc/lowerbuckshealth.doc1640.pdf

                      About Lower Bucks Hospital

Lower Bucks Hospital is a non-profit hospital based in Bristol,
Pennsylvania.  The Hospital is currently licensed to operate 183
beds.  Together with affiliates Advanced Primary Care Physicians
and Lower Bucks Health Enterprises, Inc., Lower Bucks owns a 36-
acre campus with several medical facilities.  The Hospital's
emergency room serves 30,000 patients annually.  For the fiscal
year ending June 30, 2009, Lower Bucks had $114 million in
consolidated revenues.

The Hospital filed for Chapter 11 bankruptcy protection (Bankr.
E.D. Pa. Case No. 10-10239) on Jan. 13, 2010.  The Hospital's
affiliates -- Lower Bucks Health Enterprises, Inc, and Advanced
Primary Care Physicians -- also filed Chapter 11 petitions.
Jeffrey C. Hampton, Esq., and Adam H. Isenberg, at Saul Ewing LLP,
in Philadelphia, assist the Hospital in its restructuring effort.
Donlin, Recano & Company, Inc., is the Hospital's claims and
notice agent.  The Debtors tapped Zelenkofske Axelrod LLC for tax
preparation services.  The Hospital estimated assets and
liabilities at $50 million to $100 million.

Regina Stango Kelbon, Esq., at Blank Rome LLP, in Philadelphia,
represents the Official Committee of Unsecured Creditors as
counsel.


MSR RESORT: Posts $8.5 Million Net Loss in November 2011
--------------------------------------------------------
MSR Resort Golf Course LLC, et al., filed on Dec. 30, 2011, with
the U.S. Bankruptcy Court for the Southern District of New York
its monthly operating report for the month ended Nov. 30, 2011.

The Debtors reported a net loss of $8.5 million on total revenue
of $38.4 million for the period.

The Debtors' combined condensed balance sheet at Oct. 31, 2011,
showed $2.144 billion in total assets, $1.957 billion in total
liabilities, and partners' capital of $186.5 million.

A copy of the operating report is available for free at:

            http://bankrupt.com/misc/msrresort.doc940.pdf

                         About MSR Resort

MSR Hotels & Resorts, formerly known as CNL Hotels & Resorts Inc.,
owns a portfolio of eight luxury hotels with over 5,500 guest
rooms, including the Arizona Biltmore Resort & Spa in Phoenix, the
Ritz-Carlton in Orlando, Fla., and Hawaii's Grand Wailea Resort
Hotel & Spa in Maui.

On Jan. 28, 2011, CNL-AB LLC acquired the equity interests in the
portfolio through a foreclosure proceeding.  CNL-AB LLC is a joint
venture consisting of affiliates of Paulson & Co. Inc., a joint
venture affiliated with Winthrop Realty Trust, and affiliates of
Capital Trust, Inc.

Morgan Stanley's CNL Hotels & Resorts Inc. owned the resorts
before the Jan. 28 foreclosure.

Following the acquisition, five of the resorts with mortgage debt
scheduled to mature on Feb. 1, 2011, were sent to Chapter 11
bankruptcy by the Paulson and Winthrop joint venture affiliates.
MSR Resort Golf Course LLC and its affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-10372) in Manhattan
on Feb. 1, 2011.  The resorts subject to the filings are Grand
Wailea Resort and Spa, Arizona Biltmore Resort and Spa, La Quinta
Resort and Club and PGA West, Doral Golf Resort and Spa, and
Claremont Resort and Spa.

James H.M. Sprayregen, P.C., Esq., Paul M. Basta, Esq., Edward O.
Sassower, Esq., and Chad J. Husnick, Esq., at Kirkland & Ellis,
LLP, serve as the Debtors' bankruptcy counsel.  Houlihan Lokey
Capital, Inc., is the Debtors' financial advisor.  Kurtzman Carson
Consultants LLC is the Debtors' claims agent.

The five resorts had $2.2 billion in assets and $1.9 billion in
debt as of Nov. 30, 2010, according to court filings.  In its
schedules, debtor MSR Resort disclosed $59,399,666 in total assets
and $1,013,213,968 in total liabilities.


NORTEL NETWORKS: Ends November 2011 With $1.081 Billion Cash
------------------------------------------------------------
Nortel Networks Inc. ended November 2011 with $1.081 billion in
cash and cash equivalents, as compared to $1.084 billion at the
beginning of the month.

As of Nov. 30, 2011, Nortel Networks Inc. had $1.419 billion
in total assets, $5.685 billion in total liabilities, and a
stockholders' deficit of $4.266 billion.

A copy of the November 2011 operating report is available for free
at http://bankrupt.com/misc/nni.nov2011mor.pdf

Nortel Networks Inc. Nortel Networks Inc. ended October 2011 with
$1.084 billion in cash and cash equivalents, as compared to
$1.088 billion at the beginning of the month.

As of Oct. 31, 2011, Nortel Networks Inc. had $1.442 billion
in total assets, $5.696 billion in total liabilities, and a
stockholders' deficit of $4.254 billion.

A copy of the October 2011 operating report is available for free
at http://bankrupt.com/misc/nni.oct2011mor.pdf

                       About Nortel Networks

Nortel Networks (OTC BB: NRTLQ) -- http://www.nortel.com/-- was
once North America's largest communications equipment provider.
It has sold most of the businesses while in bankruptcy.

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 (Bankr. D. Del. Case No. 09-10138) on Jan. 14, 2009.
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.  Fred S. Hodara, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, in New York, and
Christopher M. Samis, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, represent the Official Committee of
Unsecured Creditors.

Certain of Nortel's European subsidiaries also made consequential
filings for creditor protection.  On May 28, 2009, at the request
of the Administrators, the Commercial Court of Versailles, France
ordered the commencement of secondary proceedings in respect of
Nortel Networks S.A.  On June 8, 2009, Nortel Networks UK Limited
filed petitions in this Court for recognition of the English
Proceedings as foreign main proceedings under chapter 15 of the
Bankruptcy Code.

Nortel Networks divested off key assets while in Chapter 11.
Nortel has raised $3.2 billion by selling its operations as it
prepares to wind up a two-year liquidation due to insolvency.  In
June 2011, Nortel added US$4.5 billion to its cash pile after
agreeing to sell its remaining patent portfolio to Rockstar Bidco,
a consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel Networks has filed a proposed plan of liquidation in the
U.S. Bankruptcy Court.  The Plan generally provides for full
payment on secured claims with other distributions going in
accordance with the priorities in bankruptcy law.


OTERO COUNTY: Posts $3.4 Million Net Loss in November 2011
----------------------------------------------------------
Otero County Hospital Association, Inc. (d/b/a Gerald Champion
Regional Medical Center, d/b/a Mountain View Catering), filed on
Dec. 21, 2011, a standard monthly operating report (business) for
the month of November 2011.

Gerald Champion Regional Medical Center's Hospital & Physician
Income Statement showed a net loss of $3.4 million on $6.9 million
of total revenue for the period.

The financial statements do not include an accrued liability for
defense and settlement of pending lawsuits and reorganization
costs under the Chapter 11 bankruptcy filed on Aug. 16, 2011.

Gerald Champion Regional Medical Center's Hospital Physician and
Balance Sheet at Oct. 31, 2011, showed $145.9 million in total
assets, $56.7 million in total liabilities & deferred income, and
total equity of $89.2 million.

A copy of the monthly operating report is available for free at:

         http://bankrupt.com/misc/oterocounty.doc285.pdf

                    About Otero County Hospital

Otero County Hospital Association Inc. filed for Chapter 11
protection (Bankr. D. N.M. Case No. 11-13686) in Albuquerque, New
Mexico, on Aug. 16, 2011.  The Alamogordo, New Mexico-based
nonprofit developed and operates the Gerald Champion Regional
Medical Center.  GCRMC serves a total population of approximately
70,000 people.  The Debtor disclosed $124,186,104 in assets and
$40,506,759 in liabilities as of the Chapter 11 filing.

Otero County Hospital Association also does business as Mountain
View Catering.

Judge Robert H. Jacobvitz presides over the case. Craig H. Averch,
Esq., and Roberto J. Kampfner, Esq., at White & Case, LLP, in Los
Angeles; and John D. Wheeler, Esq., at John D. Wheeler &
Associates, PC, in Alamogordo, New Mexico, serve as bankruptcy
counsel.  Kurtzman Carson Consultants, LLC, serves as claims
agent.

The Debtor disclosed $124,186,104 in assets and $40,506,759 in
liabilities as of the Chapter 11 filing.

Alice Nystel Page, U.S. Trustee for Region 20 appointed five
unsecured creditors to serve on the Official Committee of
Unsecured Creditors of the Debtor.  Gardere Wynne Sewell LLP
serves as the Committee's counsel.  The Committee tapped James
Morell of JCM Advisors, LLC, as healthcare management consultant.

The U. S. Trustee appointed E. Marissa Lane PLLC as patient care
ombudsman on Sept. 13, 2011.

No trustee or examiner has been requested or appointed in the
Chapter 11 Case.


PEGASUS RURAL: Posts $1.5 Million Net Loss in November 2011
-----------------------------------------------------------
Pegasus Rural Broadband, LLC, et al., reported a net loss of
$1.5 million on $313,766 of customer revenue for the month ended
Nov. 30, 2011.

At Nov. 30, 2011, the Company had $42.7 million in total assets,
$74.3 million in total liabilities, and a stockholders' deficit of
$31.6 million.

A copy of the operating report is available for free at:

       http://bankrupt.com/misc/pegasusrural.nov2011mor.pdf

                   About Pegasus Rural Broadband

Pegasus Rural Broadband, LLC, and its affiliates, including
Xanadoo Holdings Inc., sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 11-11772) on June 10, 2011.

The Debtors are subsidiaries of Xanadoo Company, a 4G wireless
Internet provider.  Xanadoo Co. was not among the Chapter 11
filers.

The subsidiaries sought Chapter 11 protection after they were
unable to restructure $52 million in 12.5% senior secured
promissory notes that matured in May.  The notes are owing to
Beach Point Capital Management LP.

Xanadoo Holdings, through Xanadoo LLC -- XLC -- offers wireless
high-speed broadband service, including digital phone services,
under the Xanadoo brand utilizing licensed frequencies in the 2.5
GHz frequency band.  As of May 31, 2011, XLC served 12,000
subscribers in Texas, Oklahoma and Illinois.  In the summer of
2010, the Debtors closed all of their retail stores and kiosks in
its six operating markets and severed all fulltime sales
personnel.  Since the closings, the Debtors relied one key
retailer in each market to serve as local point of presence to
market customer transactions.

Judge Peter J. Walsh presides over the case.  Rafael Xavier
Zahralddin-Aravena, Esq., Shelley A. Kinsella, Esq., and Jonathan
M. Stemerman, Esq., at Elliott Greenleaf, in Wilmington, Delaware,
serve as counsel to the Debtor.  NHB Advisors Inc. is their
financial advisors.  Epiq Systems, Inc., is the claims and notice
agent.

Xanadoo Holdings, Pegasus Guard Band and Xanadoo Spectrum each
estimated assets of $100 million to $500 million and debts of
$50 million to $100 million.

The Chapter 11 filing followed the maturity in May 2011 of almost
$60 million in secured notes owing to Beach Point Capital
Management LP.

After filing for bankruptcy, the Debtors faced an effort by the
agent for secured noteholders to appoint a trustee or dismiss the
case.   The agent contended that on the eve of bankruptcy, Xanadoo
created a new intermediate holding company to hinder and delay
creditors by taking over ownership of the operating companies.

The Debtors called the trustee motion a distraction that hindered
them from moving the case more quickly.

On Oct. 14, 2011, the Court denied the motion to dismiss the
Chapter 11 case of Xanadoo Spectrum, LLC, and to appoint a
Chapter 11 trustee for Xanadoo Holdings, Inc., Pegasus Rural
Broadband, LLC, Pegasus Guard Band, C, and Xanadoo LLC.


POINT BLANK: Posts $659,727 Net Loss in October 2011
----------------------------------------------------
SS Body Armor I, Inc., f/k/a Point Blank Solutions Inc., et al.,
reported a consolidated net loss of $659,727 on sales of
$9.8 million for the month ended Oct. 31, 2011.

The Debtors reported operating income before non-recurring
expenses of $13,140 in the month.

At Oct. 31, 2011, the Debtors had $42.4 million in total assets,
$75.3 million in total liabilities, $463,833 in minority and non-
controlling interests in subsidiaries, $19.3 million in
contingently redeemable common stock, and a stockholders' deficit
of $52.7 million.

A copy of the operating report is available for free at:

        http://bankrupt.com/misc/pointblank.oct2011mor.pdf

                        About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, as well as select international markets.
The Company maintains facilities in Pompano Beach, Florida, and
Jacksboro, Tennessee.

The Company's former chief executive officer and chief operating
officer were convicted in September 2010 of orchestrating a
$185 million fraud.

Point Blank Solutions, formerly DHB Industries, filed for
Chapter 11 protection (Bankr. D. Del. Case No. 10-11255) on
April 14, 2010.  Laura Davis Jones, Esq., Alan J. Kornfeld, Esq.,
David M. Bertenthal, Esq., and Timothy P. Cairns, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as bankruptcy counsel to
the Debtor.  Olshan Grundman Frome Rosenweig & Wolosky LLP serves
as corporate counsel.  T. Scott Avila of CRG Partners Group LLC is
the restructuring officer.  Epiq Bankruptcy Solutions serves as
claims and notice agent.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  Ian Connor Bifferato, Esq., and Thomas F.
Driscoll III, Esq., at Bifferato LLC; and Carmen H. Lonstein,
Esq., Andrew P.R. McDermott, Esq., and Lawrence P. Vonckx, Esq.,
at Baker & McKenzie LLP, serve as counsel for the Official
Committee of Equity Security Holders.  Robert M. Hirsh, Esq., and
George P. Angelich, Esq., at Arent Fox LLP, serve as counsel to
the Creditors Committee, and Frederick B. Rosner, Esq., and
Brian L. Arban, Esq., at the Rosner Law Group LLC, serve as
co-counsel.


PURE BEAUTY: Posts $3.6-Mil Net Loss in Oct. 30 - Nov. 26 Period
----------------------------------------------------------------
Pure Beauty Salons & Boutiques, Inc., and BeautyFirst Franchise
Corp. reported a combined net loss of $3.6 million on $5.8 million
of revenue for the reporting period Oct. 30, 2011, through
Nov. 26, 2011.

The Debtors' combined balance sheet at Nov. 26, 2011, showed
$31.8 million in total assets, $55.8 million in total liabilities,
and a stockholders' deficit of $24.0 million.

A copy of the operating report is available for free at

       http://bankrupt.com/misc/purebeauty.nov262011mor.pdf

                         About Pure Beauty

Pure Beauty Salons & Boutiques, Inc., and its affiliated company
BeautyFirst Franchise Corp., operate a chain of hair care and
beauty supply stores under the trade names Trade Secret, Beauty
Express, BeautyFirst, PureBeauty, and Winston's Barber Shop.  Pure
Beauty Salons & Boutiques, Inc. operates and/or owns 436 stores
and BeautyFirst Franchise Corp. has agreements with 13 franchisees
that operate 22 BeautyFirst and 7 Trade Secret Stores.

Pure Beauty Salons & Boutiques, Inc., is back in Chapter 11 after
having been sold out of Chapter 11 last year.  The prior case was
dismissed after the sale was completed.  The previous case was In
re Trade Secret Inc., 10-12153, in the same court.

Pure Beauty Salons filed for bankruptcy (Bankr. D. Del. Case No.
11-13159) on Oct. 4, 2011.  Affiliate BeautyFirst Franchise Corp.
filed a separate petition (Bankr. D. Del. Case No. 11-13160).
Joseph M. Barry, Esq., Kenneth J. Enos, Esq., and Ryan M. Bartley,
Esq., at at Young Conaway Stargatt & Taylor, LLP, serve as the
Debtors' counsel.  The Debtors' investment banker is SSG Capital
Advisors' J. Scott Victor -- jsvictor@ssgca.com  The Debtors'
notice, claims solicitation, and balloting agent is Epiq
Bankruptcy Solutions.

In its schedules, Pure Beauty Salons disclosed $36,444,963 in
assets and $55,215,590 in liabilities as of the Petition Date.
In its schedules, BeautyFirst Franchise disclosed $1,716,985 in
assets and $36,761,086 in liabilities as of the Petition Date.

The Debtors owe $15 million to vendors and landlords.  The
petition was signed by Brian Luborsky, chief executive officer.

Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed
seven unsecured creditors to serve on the Official Committee of
Unsecured Creditors of Pure Beauty Salons.  Attorneys at Pachulski
Stang Ziehl & Jones LLP represent the Committee.  LM+Co serves as
their financial advisor.

Secured lender Regis Corp. is represented in the case by Michael
L. Meyer, Esq., at Ravich Meyer Kirkman McGrath Nauman & Tansey
P.A., and Kathleen M. Miller, Esq., at Smith Katzenstein & Furlow
LLP.


RCR PLUMBING: Posts $692,303 Net Loss in November 2011
------------------------------------------------------
RCR Plumbing and Mechanical, Inc., filed on Dec. 19, 2011, its
monthly operating report for the month ended Nov. 30, 2011.

The Debtor reported a net loss of $692,303 on $4.3 million of
revenue in the month.

At Nov. 30, 2011, the Debtor had $17.8 million in total assets,
$21.6 million in total liabilities, and a stockholders' deficit of
$3.8 million.

A copy of the monthly operating report is available for free at:

         http://bankrupt.com/misc/rcrplumbling.doc196.pdf

                        About RCR Plumbing

Founded in 1977, Riverside, California-based RCR Plumbing and
Mechanical Inc. is one of the largest plumbing subcontractors in
the West Coast.  In 1999, RCR Plumbing was acquired by American
Plumbing and Mechanical Inc.  On Oct. 13, 2003, AMPAM and its
affiliated entities, including RCR Plumbing, filed for Chapter 11
bankruptcy (Bankr. W.D. Tex. Lead Case No. 03-55789) in San
Antonio.  Pursuant to a plan of reorganization, RCR Plumbing
received a discharge of any liability arising from contracts
completed prior to Aug. 2, 2004, the date the plan was confirmed.
The plan disaggregated RCR Plumbing from AMPAM.

RCR Plumbing filed for Chapter 11 bankruptcy (Bankr. C.D. Calif.
Case No. 11-41853) on Oct. 12, 2011.  RCR Plumbing blamed a weak
construction market and increased insurance costs.  Judge Wayne E.
Johnson oversees the case.  Evan D. Smiley, Esq., and Kyra E.
Andrassy, Esq. -- esmiley@wgllp.com and kandrassy@wgllp.com -- at
Weiland, Golden, Smiley et al., serve as the Debtor's counsel.
Sidley Austin LLP as its special labor and employment counsel
BSW & Associates as financial advisor.  Kurtzman Carson
Consultants LLC serves as noticing agent.  In its petition, RCR
Plumbing estimated $10 million to $50 million in assets and debts.
The petition was signed by Robert C. Richey, president/CEO.

The Official Committee of Unsecured Creditors tapped Venable LLP
as its counsel.


SHARPER IMAGE: Ends December 2011 With 2.09-Mil. Cash
-----------------------------------------------------
TSIC, Inc., formerly known as The Sharper Image Corporation, filed
with the U.S. Bankruptcy Court for the District of Delaware on
Jan. 10, 2012, its monthly operating report for December 2011.

The Debtor reported a net loss of $62,612 on $0 revenue for the
month.  The Debtor incurred a total of $36,897 in professional
fees in the month.

At Dec. 31, 2011, the Company's balance sheet showed $2.9 million
in total assets, $95.4 million in total liabilities, and a
stockholders' deficit of $92.5 million.

The Debtor ended the month with $2,097,647 cash.

A copy of the monthly operating report is available for free at:

                       http://is.gd/ZoYr4v

                       About Sharper Image

Headquartered in San Francisco, California, Sharper Image Corp. --
http://www.sharperimage.com/-- was a multi-channel specialty
retailer.  It operated in three principal selling channels: the
Sharper Image specialty stores throughout the U.S., the Sharper
Image catalog and the Internet.  The Company has operations in
Australia, Brazil and Mexico.  In addition, through its Brand
Licensing Division, it was also licensing the Sharper Image brand
to select third parties to allow them to sell Sharper Image
branded products in other channels of distribution.

The Company filed for Chapter 11 protection on Feb. 19, 2008
(Bankr. D. Del. Case No. 08-10322).  Judge Kevin Gross presides
over the case.  Harvey R. Miller, Esq., Lori R. Fife, Esq., and
Christopher J. Marcus, Esq., at Weil, Gotshal & Manges, LLP,
serve as the Company's lead counsel.  Steven K. Kortanek, Esq.,
and John H. Strock, Esq., at Womble, Carlyle, Sandridge & Rice,
P.L.L.C., serve as the Company's local Delaware counsel.

An official committee of unsecured creditors was appointed in the
case.  Cooley Godward Kronish LLP is the Committee's lead
bankruptcy counsel.  Whiteford Taylor Preston LLC is the
Committee's Delaware counsel.

When the Debtor filed for bankruptcy, it disclosed total assets of
$251,500,000 and total debts of $199,000,000.  As of June 30,
2008, the Debtor disclosed $52,962,174 in total assets and
$39,302,455 in total debts.

Sharper Image changed its name to "TSIC, Inc." following the going
out of business sales of its assets by a group consisting of
Gordon Brothers Retail Partners, LLC, GB Brands, LLC, Hilco
Merchant Resources, LLC, and Hilco Consumer Capital, LLC.


SOLYNDRA LLC: Has $5.14-Mil. Cash at December 3
-----------------------------------------------
Solyndra LLC reported a net loss of $11.0 million on $1.3 million
of revenue for the fiscal month ended Dec. 3, 2011.

The Debtor's balance sheet at Dec. 3, 2011, showed $713.3 million
in total assets, $926.2 million in total liabilities, and a
stockholders' deficit of $212.9 million.

The Debtor ended the period with $5,148,000 cash.

A copy of the operating report for the period ended Dec. 31, 2011,
is available for free at:

http://bankrupt.com/misc/solyndra.dec32011mor.pdf

                        About Solyndra LLC

Founded in 2005, Solyndra LLC is a U.S. manufacturer of solar
photovoltaic solar power systems specifically designed for large
commercial and industrial rooftops and for certain shaded
agriculture applications.  The Company had 968 full time employees
and 211 temporary employees.  Solyndra has sold more than 500,000
of its panels since 2008 and generated cumulative sales of over
$250 million.

Fremont, California-based Solyndra and affiliate 360 Degree Solar
Holdings Inc. sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Lead Case No. 11-12799) on Sept. 6, 2011.  Solyndra is at
least the third solar company to seek court protection from
creditors since August 2011.

Solyndra owed secured lenders $783.8 million, including
$527.8 million to the U.S. government pursuant to a federal loan
guarantee, and held assets valued at $859 million as of the
Petition date.  The U.S. Federal Financing Bank, owned by the U.S.
Treasury Department, is the Company's biggest lender.

In the Chapter 11 cases, the Debtors are pursuing a two-pronged
strategy to effectuate either a sale of their business to a
"turnkey" buyer who may acquire substantially all of Solyndra's
assets or, if the Debtors are unable to identify any such
potential buyers, an orderly liquidation of the Debtors' assets
for the benefit of their creditors.

Judge Mary F. Walrath presides over the Debtors' cases.  The
Debtors are represented by Pachulski Stang Ziehl & Jones LLP as
legal adviser.  AlixPartners LLP serves as noticing claims and
balloting agent.  Imperial Capital LLC serves as the company's
investment banker and financial adviser.  The Debtors also tapped
former Massachusetts Governor William F. Weld, now with the law
firm McDermott Will & Emery, to represent the company in
government investigations and related litigation.  BDO Consulting,
a division of BDO USA, LLP, as financial advisor and BDO Capital
Advisors, LLC, serves as investment banker for the creditors'
panel.

Roberta A. DeAngelis, U.S. Trustee for Region 3, appointed seven
unsecured creditors to serve on the Official Committee of
Unsecured Creditors of Solyndra LLC.  The Committee has tapped
Blank Rome LLP as counsel.

Solyndra is at least the fourth solar company to seek court
protection from creditors since August 2011.  Other solar firms
are Evergreen Solar and start-up Spectrawatt Inc., both of which
filed in August, and Stirling Energy Systems Inc., which filed for
Chapter 7 bankruptcy late in September.


SOUTHWEST GEORGIA: Reports $3.2-Mil. Net Income in November 2011
----------------------------------------------------------------
Southwest Georgia Ethanol LLC reported net income of $3.2 million
on $34.0 million of revenues for the month ending Nov. 30, 2011.
EBITDA was $4.1 million for the month.

Professional fees in the month were $279,604.

The Debtor's balance sheet at Nov. 30, 2011, showed $180.1 million
in total assets, $149.1 million in total liabilities, and total
equity of $31.0 million.

A copy of the November 2011 operating report is available for
free at http://bankrupt.com/misc/southwestgeorgia.doc408.pdf

                About Southwest Georgia Ethanol

Southwest Georgia Ethanol LLC, a unit of First United Ethanol Co.,
sought bankruptcy protection (Bankr. M.D. Ga. 11-10145) in Albany,
Georgia, on Feb. 1, 2011.

The Debtor owns and operates an ethanol production facility
located on 267 acres in Mitchell County, Georgia, producing
100 million gallons of ethanol annually.  Ethanol production
operations commenced in October 2008.  Revenue was $168.9 million
for fiscal year ended Sept. 30, 2010.  The Debtor said
profitability and liquidity have been materially reduced by
unfavorable fluctuations in commodity prices for ethanol and corn.

Gary W. Marsh, Esq., J. Michael Levengood, Esq., and Bryan E.
Bates, Esq., at McKenna Long & Aldridge LLP, in Atlanta, Georgia,
serve as counsel to the Debtor.  Morgan Keegan & Company, Inc., is
the investment banker and financial advisor.

The Debtor's balance sheet showed $164.7 million in assets and
$134.1 million in debt as of Dec. 31, 2010.

Since 2008, at least 11 ethanol-related companies have sought
court protection, including VeraSun Energy Corp., once the second-
largest U.S. ethanol maker; units of Pacific Ethanol Inc.; and
White Energy Holding Co.

On Dec. 9, 2011, the Bankruptcy Court confirmed Southwest Georgia
Ethanol's First Amended and Restated Plan of Reorganization.  The
Court also approved the appointment of Christopher Tierney of Hays
Financial Consulting, LLC, by the Official Committee of Unsecured
Creditors to serve as Litigation trustee.

The Plan calls for lenders owed $107.6 million to receive $105
million in preferred stock plus 25% of the common stock.  The
disclosure statement estimates the lenders' recovery at 97.5%.
Unsecured creditors with $2.1 million in claims and bondholders
owed $8.7 million are to receive proceeds from a litigation trust
and are expected to see a recovery of 3%.  The Disclosure
Statement provided that if lower classes accept the Plan, the
lenders will waive their deficiency claims.


SP NEWSPRINT: Ends November 2011 With $13.66-Mil. Cash
------------------------------------------------------
SP Newsprint Holdings LLC, et al., reported a net loss of
$5.3 million on $40.0 million of net revenues for the period
Nov. 15, 2011, through Nov. 30, 2011.

At Nov. 30, 2011, the Debtors had $340.2 million in total assets,
$396.7 million in total liabilities, and a partners' deficit of
$56.5 million.  The Company ended the period with $13,660,828 in
cash and short term investments.

                         About SP Newsprint

Greenwich, Conn.-based SP Newsprint Holdings LLC -- aka Bulldog
Acquisition I LLC, Bulldog Acquisition II LLC, Publishers Papers,
Southeastern Paper Recycling and SP Newsprint Merger LLC -- and
three affiliates, SP Newsprint Co. LLC, SP Recycling Corporation
and SEP Technologies L.L.C, filed for Chapter 11 bankruptcy
(Bankr. D. Del. Lead Case No. 11-13649) on Nov. 15, 2011.

SP Newsprint Holdings LLC is a newsprint company controlled by
polo-playing mogul Peter Brant.  It is one of the largest
producers of newsprint in North America.  SP Recycling
Corporation, a Georgia corporation and the Debtors' other
operating company, was established in 1980 as a means for SP to
secure a ready supply of recycled fiber, a key raw material for
its newsprint.

SP Newsprint is the second Brant-owned newsprint company to tumble
into bankruptcy proceedings in recent years.  Current and former
affiliated entities are Bear Island Paper Company, L.L.C., Brant
Industries, Inc., F.F. Soucy, Inc., Soucy Partners Newsprint,
Inc., White Birch Paper Company.

Judge Christopher S. Sontchi presides over the case.  Joel H.
Levitin, Esq., Maya Peleg, Esq., and Richard A. Stieglitz Jr.,
Esq. -- jlevitin@cahill.com , mpeleg@cahill.com and
rstieglitz@cahill.com -- at Cahill Gordon & Reindel LLP serve as
the Debtors' lead counsel.  Lee E. Kaufman, Esq., and Mark D.
Collins, Esq. -- kaufman@rlf.com and collins@RLF.com -- at
Richards, Layton & Finger, P.A., serve as the Debtors' Delaware
counsel.  AlixPartners LLP serves as the Debtors' financial
advisors and The Garden City Group Inc. serves as the Debtors'
claims and noticing agent.  In its petition, SP Newsprint Holdings
estimated $100 million to $500 million in assets and debts.  The
petitions were signed by Edward D. Sherrick, executive vice
president and chief financial officer.


SPECIALTY PRODUCTS: Ends November 2011 With $26.44-Mil. Cash
------------------------------------------------------------
Specialty Products Holdings Corp. reported a net loss of
$1.3 million on $0 revenue for the month ended Nov. 30, 2011.

At Nov. 30, 2011, the Debtor had $472.9 million in total assets,
$223.5 million in total liabilities, and stockholders' equity of
$249.4 million.  The Debtor had unrestricted cash and equivalents
of $26,449,270 at Nov. 30, 2011, from 29,873,808 at the
beginning of the period.

A copy of the November 2011 monthly operating report is available
for free at:

    http://bankrupt.com/misc/specialtyproducts.nov2011mor.pdf

                      About Specialty Products

Cleveland, Ohio-based Specialty Products Holdings Corp., aka RPM,
Inc., is a wholly owned subsidiary of RPM International Inc.  The
Company is the holding company parent of Bondex International,
Inc., and the direct or indirect parent of certain additional
domestic and foreign subsidiaries.  The Company claims to be a
leading manufacturer, distributor and seller of various specialty
chemical product lines, including exterior insulating finishing
systems, powder coatings, fluorescent colorants and pigments,
cleaning and protection products, fuel additives, wood treatments
and coatings and sealants, in both the industrial and consumer
markets.

The Company filed for Chapter 11 bankruptcy protection on May 31,
2010 (Bankr. D. Del. Case No. 10-11780).  Gregory M. Gordon, Esq.,
Dan B. Prieto, Esq., and Robert J. Jud, Esq., at Jones Day, serve
as bankruptcy counsel.  Daniel J. DeFranceschi, Esq., and Zachary
I. Shapiro, Esq., at Richards Layton & Finger, serve as
co-counsel.  Logan and Company is the Company's claims and notice
agent.

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

The Company's affiliate, Bondex International, Inc., filed a
separate Chapter 11 petition on May 31, 2010 (Case No. 10-11779),
estimating its assets and debts at $100,000,001 to $500,000,000.


SPECIALTY PRODUCTS: Bondex Posts $36,056 Net Loss in November 2011
------------------------------------------------------------------
Bondex International, Inc., reported a net loss of $36,056 on
$0 revenue for the month of November 2011.

At Nov. 30, 2011, the Debtor had ($181.4) million in total
assets, $366.9 million in total liabilities, and a stockholders'
deficit of $548.3 million.

A copy of the November 2011 monthly operating report is available
for free at http://bankrupt.com/misc/bondex.nov2011mor.pdf

                      About Specialty Products

Cleveland, Ohio-based Specialty Products Holdings Corp., aka RPM,
Inc., is a wholly owned subsidiary of RPM International Inc.  The
Company is the holding company parent of Bondex International,
Inc., and the direct or indirect parent of certain additional
domestic and foreign subsidiaries.  The Company claims to be a
leading manufacturer, distributor and seller of various specialty
chemical product lines, including exterior insulating finishing
systems, powder coatings, fluorescent colorants and pigments,
cleaning and protection products, fuel additives, wood treatments
and coatings and sealants, in both the industrial and consumer
markets.

The Company filed for Chapter 11 bankruptcy protection on May 31,
2010 (Bankr. D. Del. Case No. 10-11780).  Gregory M. Gordon, Esq.,
Dan B. Prieto, Esq., and Robert J. Jud, Esq., at Jones Day, serve
as bankruptcy counsel.  Daniel J. DeFranceschi, Esq., and Zachary
I. Shapiro, Esq., at Richards Layton & Finger, serve as
co-counsel.  Logan and Company is the Company's claims and notice
agent.

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

The Company's affiliate, Bondex International, Inc., filed a
separate Chapter 11 petition on May 31, 2010 (Case No. 10-11779),
estimating its assets and debts at $100,000,001 to $500,000,000.


THORNBURG MORTGAGE: Ends December 2011 With $103.2 Million Cash
---------------------------------------------------------------
On Jan. 19, 2011, the Chapter 11 trustee for TMST, Inc., formerly
known as Thornburg Mortgage, Inc., filed on behalf of the Debtors,
except for ADFITECH, Inc., a monthly operating report for
December 2011.

TMST, Inc., et al., ended December with $103,209,028 in cash.
Payments to attorneys and other professionals totaled $776,816 for
the current month.  The Debtors reported a net loss of $805,688 on
net operating revenue of $4,145 in December.  Operating loss was
$110,765.  Reorganization expenses totaled $694,865.

At Dec. 31, 2011, the Debtors had $104.8 million in total
assets, $3.431 billion in total liabilities, and a stockholders'
deficit of $3.326 billion.

A copy of the December 2011 operating report is available for
free at http://is.gd/kU9dVq

                     About Thornburg Mortgage

Based in Santa Fe, New Mexico, Thornburg Mortgage Inc. (NYSE: TMA)
-- http://www.thornburgmortgage.com/-- was a single-family
residential mortgage lender focused principally on prime and
super-prime borrowers seeking jumbo and super-jumbo adjustable
rate mortgages.  It originated, acquired, and retained investments
in adjustable and variable rate mortgage assets.  Its ARM assets
comprised of purchased ARM assets and ARM loans, including
traditional ARM assets and hybrid ARM assets.

Thornburg Mortgage and its four affiliates filed for Chapter 11
bankruptcy (Bankr. D. Md. Lead Case No. 09-17787) on May 1, 2009.
Thornburg changed its name to TMST, Inc.

Judge Duncan W. Keir is handling the case.  David E. Rice, Esq.,
at Venable LLP, in Baltimore, Maryland, served as counsel to
Thornburg Mortgage.  Orrick, Herrington & Sutcliffe LLP served as
special counsel.  Jim Murray, and David Hilty, at Houlihan Lokey
Howard & Zukin Capital, Inc., served as investment banker and
financial advisor.  Protiviti Inc. served as financial advisory
services.  KPMG LLP served as the tax consultant.  Epiq Systems,
Inc., serves claims and noticing agent.  Thornburg disclosed total
assets of $24.4 billion and total debts of $24.7 billion, as of
Jan. 31, 2009.

On Oct. 28, 2009, the Court approved the appointment of Joel I.
Sher as the Chapter 11 Trustee for the Company, TMST Acquisition
Subsidiary, Inc., TMST Home Loans, Inc., and TMST Hedging
Strategies, Inc.  He is represented by Shapiro Sher Guinot &
Sandler.


TRIBUNE CO: Has $30,135,000 Profit in October
---------------------------------------------

                     Tribune Company, et al.
                Condensed Combined Balance Sheet
                    As of October 23, 2011

ASSETS
Current Assets:
  Cash and cash equivalents                     $1,265,656,000
  Accounts receivable, net                         504,473,000
  Inventories                                       24,382,000
  Broadcast rights                                 208,665,000
  Prepaid expenses and other                       210,948,000
                                            ------------------
Total current assets                             2,214,124,000

Property, plant and equipment, net                 921,581,000

Other Assets:
  Broadcast rights                                 154,810,000
  Goodwill & other intangible assets, net          776,617,000
  Prepaid pension costs                              2,421,000
  Investments in non-debtor units                1,525,681,000
  Other investments                                 43,065,000
  Intercompany receivables from non-debtors      3,066,784,000
  Restricted cash                                  727,439,000
  Other                                             74,037,000
                                            ------------------
Total Assets                                    $9,506,559,000
                                            ==================

LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)

Current Liabilities:
  Current portion of broadcast rights             $155,860,000
  Current portion of long-term debt                  2,287,000
  Accounts payable, accrued expenses, and other    427,128,000
                                            ------------------
Total current liabilities                          585,275,000

Pension obligations                                209,892,000
Long-term broadcast rights                         107,866,000
Long-term debt                                       4,674,000
Other obligations                                  167,933,000
                                            ------------------
Total Liabilities                                1,075,640,000

Liabilities Subject to Compromise:
  Intercompany payables to non-debtors           3,459,117,000
  Obligations to third parties                  13,069,236,000
                                            ------------------
Total Liabilities Subject to Compromise         16,528,353,000

Shareholders' Equity (Deficit)                  (8,097,434,000)
                                            ------------------
Total Liabilities & Shareholders'
Equity(Deficit)                                $9,506,559,000
                                            ==================

                     Tribune Company, et al.
             Condensed Combined Statement of Operations
   For the Period From September 26, 2011 to October 23, 2011

Total Revenue                                     $236,993,000

Operating Expenses:
  Cost of sales                                    120,419,000
  Selling, general and administrative               66,290,000
  Depreciation                                      10,240,000
  Amortization of intangible assets                  1,524,000
                                            ------------------
Total operating expenses                           198,473,000
                                            ------------------
Operating Profit (Loss)                             38,520,000
                                            ------------------
Income (loss) on equity investments, net
Income on equity investments, net                      718,000
Interest expense, net                               (3,426,000)
Management fee                                      (1,406,000)
Non-operating income (loss), net                             -
                                            ------------------
Income (loss) before income taxes & Reorg. Costs    34,406,000
Reorganization costs                                (3,162,000)
                                            ------------------
Income (loss) before income taxes                   31,244,000
Income taxes                                        (1,109,000)
                                            ------------------
Income (loss) from continuing operations            30,135,000
Income from discontinued operations, net of tax              0
                                            ------------------
Net Income (Loss)                                  $30,135,000
                                            ==================

                      Tribune Company, et al.
              Combined Schedule of Operating Cash Flow
    For the Period From September 26, 2011 to October 23, 2011

Beginning Cash Balance                          $1,969,680,000

Cash Receipts:
  Operating receipts                               221,446,000
  Other                                                      -
                                            ------------------
Total Cash Receipts                                221,446,000

Cash Disbursements
  Compensation and benefits                         75,764,000
  General disbursements                            127,736,000
  Reorganization related disbursements               4,590,000
                                            ------------------
Total Disbursements                                208,091,000
                                            ------------------
Debtors' Net Cash Flow                              13,355,000
                                            ------------------
From/(To) Non-Debtors                                1,860,000
                                            ------------------
Net Cash Flow                                       15,216,000
                                            ------------------
Other                                                3,173,000
                                            ------------------
Ending Available Cash Balance                   $1,988,068,000
                                            ==================


                        About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13141) on Dec. 8,
2008.  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee of
Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

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


TRIBUNE CO: Has $41,093,000 Profit in November
----------------------------------------------

                   Tribune Company, et al.
               Condensed Combined Balance Sheet
                   As of November 20, 2011

ASSETS
Current Assets:
  Cash and cash equivalents                     $1,307,792,000
  Accounts receivable, net                         514,046,000
  Inventories                                       23,600,000
  Broadcast rights                                 207,920,000
  Prepaid expenses and other                       211,676,000
                                            ------------------
Total current assets                             2,265,034,000

Property, plant and equipment, net                 921,137,000

Other Assets:
  Broadcast rights                                 136,835,000
  Goodwill & other intangible assets, net          775,514,000
  Prepaid pension costs                              2,421,000
  Investments in non-debtor units                1,525,681,000
  Other investments                                 44,857,000
  Intercompany receivables from non-debtors      3,060,226,000
  Restricted cash                                  727,440,000
  Other                                             80,914,000
                                            ------------------
Total Assets                                    $9,540,059,000
                                            ==================

LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)

Current Liabilities:
  Current portion of broadcast rights             $128,300,000
  Current portion of long-term debt                  2,270,000
  Accounts payable, accrued expenses, and other    435,209,000
                                            ------------------
Total current liabilities                          565,779,000

Pension obligations                                207,456,000
Long-term broadcast rights                         126,205,000
Long-term debt                                       4,516,000
Other obligations                                  167,470,000
                                            ------------------
Total Liabilities                                1,071,426,000

Liabilities Subject to Compromise:
  Intercompany payables to non-debtors           3,459,117,000
  Obligations to third parties                  13,058,721,000
                                            ------------------
Total Liabilities Subject to Compromise         16,517,838,000

Shareholders' Equity (Deficit)                  (8,049,205,000)
                                            ------------------
Total Liabilities & Shareholders'
Equity(Deficit)                                $9,540,059,000
                                            ==================

                     Tribune Company, et al.
           Condensed Combined Statement of Operations
      For the Period From October 24 to November 20, 2011

Total Revenue                                     $256,110,000

Operating Expenses:
  Cost of sales                                    124,465,000
  Selling, general and administrative               67,808,000
  Depreciation                                      10,010,000
  Amortization of intangible assets                  1,388,000
                                            ------------------
Total operating expenses                           203,671,000
                                            ------------------
Operating Profit (Loss)                             52,439,000
                                            ------------------
Income (loss) on equity investments, net
Income on equity investments, net                    1,094,000
Interest expense, net                               (3,429,000)
Management fee                                      (1,406,000)
Non-operating income (loss), net                             -
                                            ------------------
Income (loss) before income taxes & Reorg. Costs    48,698,000
Reorganization costs                                (6,165,000)
                                            ------------------
Income (loss) before income taxes                   42,533,000
Income taxes                                        (1,440,000)
                                            ------------------
Income (loss) from continuing operations            41,093,000
Income from discontinued operations, net of tax              0
                                            ------------------
Net Income (Loss)                                  $41,093,000
                                            ==================

                    Tribune Company, et al.
            Combined Schedule of Operating Cash Flow
       For the Period From October 24 to November 20, 2011

Beginning Cash Balance                          $1,988,068,000

Cash Receipts:
  Operating receipts                               247,247,000
  Other                                                      -
                                            ------------------
Total Cash Receipts                                247,247,000

Cash Disbursements
  Compensation and benefits                         74,209,000
  General disbursements                            135,893,000
  Reorganization related disbursements               6,052,000
                                            ------------------
Total Disbursements                                216,154,000
                                            ------------------
Debtors' Net Cash Flow                              31,093,000
                                            ------------------
From/(To) Non-Debtors                                4,204,000
                                            ------------------
Net Cash Flow                                       35,297,000
                                            ------------------
Other                                               (3,216,000)
                                            ------------------
Ending Available Cash Balance                   $2,020,149,000
                                            ==================


                        About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13141) on Dec. 8,
2008.  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee of
Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

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


TRIBUNE CO: Has $62,068,000 Profit in December
----------------------------------------------

                        Tribune Company, et al.
                   Condensed Combined Balance Sheet
                       As of December 25, 2011

ASSETS
Current Assets:
  Cash and cash equivalents                     $1,326,549,000
  Accounts receivable, net                         545,371,000
  Inventories                                       21,661,000
  Broadcast rights                                 189,914,000
  Prepaid expenses and other                       223,620,000
                                            ------------------
Total current assets                             2,307,115,000

Property, plant and equipment, net                 939,076,000

Other Assets:
  Broadcast rights                                 134,365,000
  Goodwill & other intangible assets, net          774,992,000
  Prepaid pension costs                              2,421,000
  Investments in non-debtor units                1,525,681,000
  Other investments                                 36,470,000
  Intercompany receivables from non-debtors      3,052,189,000
  Restricted cash                                  727,441,000
  Other                                             75,748,000
                                            ------------------
Total Assets                                    $9,575,498,000
                                            ==================

LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)

Current Liabilities:
  Current portion of broadcast rights             $123,542,000
  Current portion of long-term debt                  2,347,000
  Accounts payable, accrued expenses, and other    439,740,000
                                            ------------------
Total current liabilities                          565,629,000

Pension obligations                                204,412,000
Long-term broadcast rights                         117,688,000
Long-term debt                                       4,254,000
Other obligations                                  158,536,000
                                            ------------------
Total Liabilities                                1,050,519,000

Liabilities Subject to Compromise:
  Intercompany payables to non-debtors           3,459,117,000
  Obligations to third parties                  13,047,105,000
                                            ------------------
Total Liabilities Subject to Compromise         16,506,222,000

Shareholders' Equity (Deficit)                  (7,981,243,000)
                                            ------------------
Total Liabilities & Shareholders'
Equity(Deficit)                                $9,575,498,000
                                            ==================

                     Tribune Company, et al.
            Condensed Combined Statement of Operations
        For the Period From November 21 to December 25, 2011

Total Revenue                                     $330,577,000

Operating Expenses:
  Cost of sales                                    157,339,000
  Selling, general and administrative               88,890,000
  Depreciation                                      13,240,000
  Amortization of intangible assets                    871,000
                                            ------------------
Total operating expenses                           260,340,000
                                            ------------------
Operating Profit (Loss)                             70,237,000
                                            ------------------
Income (loss) on equity investments, net
Income on equity investments, net                    1,028,000
Interest expense, net                               (4,331,000)
Management fee                                       1,172,000
Non-operating income (loss), net                      (689,000)
                                            ------------------
Income (loss) before income taxes & Reorg. Costs    67,417,000
Reorganization costs                                (2,629,000)
                                            ------------------
Income (loss) before income taxes                   64,788,000
Income taxes                                        (2,720,000)
                                            ------------------
Income (loss) from continuing operations            62,068,000
Income from discontinued operations, net of tax              0
                                            ------------------
Net Income (Loss)                                  $62,068,000
                                            ==================

                   Tribune Company, et al.
            Combined Schedule of Operating Cash Flow
       For the Period From November 20 to December 25, 2011

Beginning Cash Balance                          $2,020,149,000

Cash Receipts:
  Operating receipts                               293,909,000
  Other                                                      -
                                            ------------------
Total Cash Receipts                                293,909,000

Cash Disbursements
  Compensation and benefits                         77,400,000
  General disbursements                            186,936,000
  Reorganization related disbursements               9,070,000
                                            ------------------
Total Disbursements                                273,406,000
                                            ------------------
Debtors' Net Cash Flow                              20,503,000
                                            ------------------
From/(To) Non-Debtors                                6,463,000
                                            ------------------
Net Cash Flow                                       26,966,000
                                            ------------------
Other                                                  395,000
                                            ------------------
Ending Available Cash Balance                   $2,047,509,000
                                            ==================

                         About Tribune Co.

Headquartered in Chicago, Illinois, Tribune Co. --
http://www.tribune.com/-- is a media company, operating
businesses in publishing, interactive and broadcasting, including
ten daily newspapers and commuter tabloids, 23 television
stations, WGN America, WGN-AM and the Chicago Cubs baseball team.

The Company and 110 of its affiliates filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13141) on Dec. 8,
2008.  The Debtors proposed Sidley Austin LLP as their counsel;
Cole, Schotz, Meisel, Forman & Leonard, PA, as Delaware counsel;
Lazard Ltd. and Alvarez & Marsal North America LLC as financial
advisors; and Epiq Bankruptcy Solutions LLC as claims agent.  As
of Dec. 8, 2008, the Debtors have $7,604,195,000 in total assets
and $12,972,541,148 in total debts.  Chadbourne & Parke LLP and
Landis Rath LLP serve as co-counsel to the Official Committee of
Unsecured Creditors.  AlixPartners LLP is the Committee's
financial advisor.  Landis Rath Moelis & Company serves as the
Committee's investment banker.  Thomas G. Macauley, Esq., at
Zuckerman Spaeder LLP, in Wilmington, Delaware, represents the
Committee in connection with the lawsuit filed against former
officers and shareholders for the 2007 LBO of Tribune.

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


WILLIAM LYONS: Files Initial Monthly Operating Report
-----------------------------------------------------
William Lyon Homes, et al., filed on Jan. 3, 2012, an initial
monthly operating report.

The Debtor submitted, among others, a cash flow forecast through
March 18, 2012 (excluding emergence).

A copy of the initial monthly operating report is available for
free at http://bankrupt.com/misc/williamlyon.doc111.pdf

About William Lyon Homes

Based in Newport Beach, California, William Lyon Homes and its
subsidiaries -- http://www.lyonhomes.com/-- are primarily engaged
in designing, constructing and selling single family detached and
attached homes in California, Arizona and Nevada.

William Lyon Homes and its affiliates commenced a prepackaged
Chapter 11 reorganization (Bankr. D. Del. Lead Case No. 11-14019)
on Dec. 19, 2011.  William Lyon had been pursuing an out-of-court
restructuring since January.  The reorganization plan, announced
in November, will reduce debt on borrowed money from $510 million
to $328 million.  The Debtors intend to obtain approval of the
bankruptcy plan at a hearing beginning Feb. 10, 2012.

The Chapter 11 plan already has been accepted by 97% in amount and
93% in number of senior unsecured notes.  The Plan exchanges the
notes for equity and generates $85 million in new cash.  Holders
owed $300 million on senior unsecured notes are to exchange the
debt for $75 million in new secured notes plus 28.5% of the common
equity. The Lyon family will invest $25 million in return for 20%
of the common stock and warrants for another 9.1%.  Senior secured
lenders led by ColFin WLH Funding LLC, an affiliate of real-estate
finance and investment company Colony Financial Inc., would
receive a new $235 million 10.25% three-year secured note for
existing secured claim of at least $206 million in principal.
There will be a rights offering to buy $10 million in common stock
and $50 million in convertible preferred stock, representing 51.5%
of the new equity.  A noteholder has agreed to buy any of the
offering that isn't purchased.

The company didn't make a $7.5 million interest payment payable
Oct. 1, 2011, on $138.8 million in 10.75% senior notes due 2013.

William Lyon expects to pay its remaining creditors in full,
including vendors and other general unsecured creditors.

Judge Christopher S. Sontchi presides over the case.  Lawyers at
Pachulski Stang Ziehl & Jones LLP serve as the Debtors' counsel.
Lawyers at Irell & Manella LLP serve as their special counsel.
Alvarez & Marsal Holdings LLC serves as the Debtors' financial
advisors.  Kurtzman Carson Consultants, LLC, serves as the
Debtors' claims and notice agent.  The petition says assets are
$593.5 million with debt totaling $606.6 million as of Sept. 30,
2011.

Counsel to the Backstop Investors are Matthew K. Kelsey, Esq., and
J. Eric Wise, Esq., at Gibson, Dunn & Crutcher LLP.  Counsel to
the Ad Hoc Noteholders Group are Mark Shinderman, Esq., and Neil
Wertlieb, Esq., at Milbank, Tweed, Hadley & McCloy LLP.  Delaware
Counsel to the Ad Hoc Noteholders Group is Robert J. Dehney, Esq.,
at Morris, Nichols, Arsht & Tunnell LLP.  The Prepetition Agent
and the Prepetition Secured Lenders are represented by David P.
Simonds, Esq., at Akin Gump Strauss Hauer & Feld LLP and David
Stratton, Esq., at Pepper Hamilton LLP.  The Prepetition Lenders
also have hired FTI Consulting Inc. as advisors.


                          *********

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.  Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Howard C. Tolentino, Joseph Medel C. Martirez, Denise
Marie Varquez, 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 2012 .  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 Peter Chapman
at 240/629-3300.

                  *** End of Transmission ***