/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/141101.mbx T R O U B L E D C O M P A N Y R E P O R T E R Saturday, November 1, 2014, Vol. 18, No. 304 Headlines AMSTERDAM HOUSE: Net Loss Slightly Down to $1.92-Mil. in September ASHLEY STEWART: Records $2.60 Million Net Loss at August 2 ASHLEY STEWART: Net Loss Improves to $754,000 at Sept. 6 BEAR ISLAND: Ends June With $7.51 Million Cash BEAR ISLAND: Lists $11,501 Net Loss at July 31 BEAR ISLAND: August Cash Balance Slightly Down to $7.49 Million BEAR ISLAND: Records $100 Operating Loss for September DIGITAL DOMAIN: Had $5.11 Million Cash at June 30 DIGITAL DOMAIN: Cash Balance Up to $5.16 Million at July 31 EDGENET INC: Cash Balance Dips to $12.52 Million at Sept. 30 HOSTESS BRANDS: Net Loss Falls to $762,000 at Sept. 20 IBCS MINING: Cash Balance Dips Further to $77,488 at Sept. 30 LEHMAN BROTHERS: Reports $14.6-Bil. in Cash as of Aug. 31 LIFE UNIFORM: Posts $1.87 Million in Total Assets in July LIFE UNIFORM: Reports $1.84 Million in Total Assets in August LONGVIEW POWER: Had $1.54 Million Net Loss in September MIG LLC: Reports $402,968 Net Loss in September NOBLE LOGISTICS: Cash Balance Steady at $999,034 in September PACIFIC STEEL: Net Loss Improves to $106,289 in September ********* AMSTERDAM HOUSE: Net Loss Slightly Down to $1.92-Mil. in September ------------------------------------------------------------------ Amsterdam House Continuing Care Retirement Community, Inc., on Oct. 20, 2014, filed a monthly operating report for September 2014. The Debtor suffered a net loss of $1.92 million in September over total operating revenues of $1.70 million, a decrease from the $2.31 million net loss incurred for the previous month. At the end of September, the Debtor declared total assets of $281.44 million, total liabilities of $441.91 million, and a total shareholders' equity of -$160.07 million. For the period from Aug. 31 through Sept. 27, the Debtor posted $1.43 million in total cash receipts and $2.24 million in total cash disbursements. The disbursements include $5,363 in professional fees. A copy of the monthly operating report is available at: http://bankrupt.com/misc/AmsterdamHousemorSeptember.pdf About Amsterdam House Amsterdam House Continuing Care Retirement Community, Inc., owns and operates Harborside, an upscale retirement community is situated on 8.9 acres in Port Washington, New York. Harborside -- http://www.theamsterdamatharborside.com/-- is Nassau County's first and only CCRC licensed under Article 46 of the New York Public Health Law. CCRCs provide senior citizens with a full range of living accommodations and healthcare services during their retirement years. Harborside currently offers 329 units of varying sizes for independent, enriched, and skilled nursing care. Amsterdam House filed a Chapter 11 bankruptcy petition (Bankr. E.D.N.Y. Case No. 14-73348) on July 22, 2014, in Central Islip, New York, to implement a prenegotiated bankruptcy-exit plan. The case is assigned to Judge Alan S Trust. Ingrid Bagby, Esq., at Cadwalader Wickersham & Taft LLP, serves as the Debtor's counsel. Grant Thornton LLP serves as financial advisors, Herbert J. Sims & Co., Inc., serves as investment bankers, and Kurtzman Carson Consultants LLC acts as claim and noticing agent. The Company said that total assets were $286 million and debt was $437 million as of April 30, 2014. ASHLEY STEWART: Records $2.60 Million Net Loss at August 2 ---------------------------------------------------------- Ashley Stewart Holdings, Inc., et al., on Oct. 13, 2014, filed their operating report for the period July 6 through August 2, 2014. New Ashley Stewart, Inc. recorded a net loss of $2.60 million on zero sales for the current reporting period. At Aug. 2, the Debtors related consolidated total assets of $5.72 million, consolidated total liabilities of $39.69 million, and a total shareholders' equity of -$33.97 million. A copy of the monthly operating report is available at: http://bankrupt.com/misc/AshleyStewart_568_morJuly.pdf About Ashley Stewart The Ashley Stewart name is synonymous with offering women who wear sizes 12 and up well-made fashionable clothes at affordable prices. Ashley Stewart Holdings Inc. and affiliates New Ashley Stewart Inc., AS IP Holdings Inc. and NAS Gift LLC filed Chapter 11 petitions in Newark, New Jersey (Bankr. D.N.J. Case Nos. 14-14383 to 14-14386) on March 10, 2014. Michael A. Abate signed the petitions as senior vice president finance/treasurer. Ashley Stewart Holdings estimated assets and liabilities of at least $10 million. The Hon. Michael B. Kaplan oversees the case. Curtis, Mallet-Prevost, Colt & Mosle LLP serves as the Debtors' general counsel. Cole, Schotz, Meisel, Forman & Leonard, P.A., is the Debtors' local counsel. PricewaterhouseCoopers LLP acts as the Debtors' financial advisor. Prime Clerk LLC serves as the Debtors' claims and noticing agent. The U.S. Trustee for Region 3 formed a five-member panel to act as the official committee of unsecured creditors in the Debtors' cases. Counsel to the Committee is Pachulski Stang Ziehl & Jones LLP. GlassRatner Advisory & Capital Group, LLC, acts as financial advisor to the Committee. Ashley Stewart has obtained authority to conduct store closing sales at 27 locations around the United States in accordance with a consulting agreement with Gordon Brothers Retail Partners, LLC. * * * The Debtors currently have the exclusive right to file a bankruptcy plan through Nov. 2, 2014, and the exclusive right of solicit acceptances for that plan through Jan. 2, 2015. ASHLEY STEWART: Net Loss Improves to $754,000 at Sept. 6 -------------------------------------------------------- Ashley Stewart Holdings, Inc, et al., filed, on Oct. 13, 2014, their monthly operating report for the period from Aug. 3 to Sept. 6, 2014. New Ashley Stewart, Inc., incurred a net loss of $754,000 for the current reporting period on zero sales, an improvement from the $2.60 million net loss recorded at Aug. 2. At Sept. 6, the Debtors declared consolidated total assets of $5.10 million, consolidated total liabilities of $39.57 million, and a total shareholders' equity of -$34.47 million. A copy of the monthly operating report is available at: http://bankrupt.com/misc/AshleyStewart_569_morAugust.pdf About Ashley Stewart The Ashley Stewart name is synonymous with offering women who wear sizes 12 and up well-made fashionable clothes at affordable prices. Ashley Stewart Holdings Inc. and affiliates New Ashley Stewart Inc., AS IP Holdings Inc. and NAS Gift LLC filed Chapter 11 petitions in Newark, New Jersey (Bankr. D.N.J. Case Nos. 14-14383 to 14-14386) on March 10, 2014. Michael A. Abate signed the petitions as senior vice president finance/treasurer. Ashley Stewart Holdings estimated assets and liabilities of at least $10 million. The Hon. Michael B. Kaplan oversees the case. Curtis, Mallet-Prevost, Colt & Mosle LLP serves as the Debtors' general counsel. Cole, Schotz, Meisel, Forman & Leonard, P.A., is the Debtors' local counsel. PricewaterhouseCoopers LLP acts as the Debtors' financial advisor. Prime Clerk LLC serves as the Debtors' claims and noticing agent. The U.S. Trustee for Region 3 formed a five-member panel to act as the official committee of unsecured creditors in the Debtors' cases. Counsel to the Committee is Pachulski Stang Ziehl & Jones LLP. GlassRatner Advisory & Capital Group, LLC, acts as financial advisor to the Committee. Ashley Stewart has obtained authority to conduct store closing sales at 27 locations around the United States in accordance with a consulting agreement with Gordon Brothers Retail Partners, LLC. * * * The Debtors currently have the exclusive right to file a bankruptcy plan through Nov. 2, 2014, and the exclusive right of solicit acceptances for that plan through Jan. 2, 2015. BEAR ISLAND: Ends June With $7.51 Million Cash ---------------------------------------------- Bear Island Paper Company, LLC, n/k/a Estate BIPCO, LLC, on Oct. 16, 2014, filed its monthly operating report for June 2014. The Debtor listed $140,664 operating loss for June. At June 30, the Debtor declared total assets of $27.02 million, total liabilities of $137.95 million, and total shareholders' equity of -$110.93 million. The Debtor started the month with a cash balance of $7.65 million. It reported zero receipts and $140,664 in total disbursements for the month. At the end of the month, the Debtor had $7.51 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/BearIslandPaper_1629_morjune.pdf About Bear Island Canada-based White Birch Paper Company was the second largest newsprint producer in North America. As of Dec. 31, 2009, the White Birch Group held a 12% share of the North American newsprint market and employed roughly 1,300 individuals (the majority of which reside in Canada). Bear Island Paper Company, L.L.C., is a U.S.-based unit of White Birch. Bear Island filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31202) on Feb. 24, 2010. At June 30, 2011, the Company had $141.9 million in total assets, $153.2 million in total liabilities, and a stockholders' deficit of $11.3 million. White Birch filed for bankruptcy protection under Canada's Companies' Creditors Arrangement Act, before the Superior Court for the Province of Quebec, Commercial Division, Judicial District of Montreal, Canada. White Birch and five other affiliates -- F.F. Soucy Limited Partnership; F.F. Soucy, Inc. & Partners, Limited Partnership; Papier Masson Ltee; Stadacona Limited Partnership; and Stadacona General Partner, Inc. -- also sought bankruptcy protection under Chapter 15 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31234). Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia Beach, Virginia Beach, serves as counsel to White Birch in the Chapter 11 case. Richard M. Cieri, Esq., Christopher J. Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP, in New York, serve as counsel to Bear Island. Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia Beach, Virginia, serve as co-counsel to Bear Island. AlixPartners LLP serves as financial and restructuring advisors to Bear Island, and Lazard Freres & Co., serves as investment banker. Garden City Group is the claims and notice agent. Jason William Harbour, Esq., at Hunton & Williams LLP, in Richmond, Virginia, represents the Official Committee of Unsecured Creditors. Chief Judge Douglas O. Tice, Jr., handles the Chapter 11 and Chapter 15 cases. Bear Island was authorized by the bankruptcy judge in November 2010 to sell the business to a group consisting of Black Diamond Capital Management LLC, Credit Suisse Group AG and Caspian Capital Advisors LLC. The sale closed in September 2012. The caption for Bear Island's case was changed to "Estate BIPCO, LLC" as required by the asset sale agreement. Under a plan proposed for Bear Island, first- and second-lien creditors with $424.9 million and $105.1 million in claims, respectively, are expected to recover between 0.5 percent and 4 percent. Unsecured creditors with $1.4 million in claims are to receive the same dividend. BEAR ISLAND: Lists $11,501 Net Loss at July 31 ---------------------------------------------- Bear Island Paper Company, LLC, n/k/a Estate BIPCO, LLC, on Oct. 16, 2014, filed a monthly operating report for July 2014. The Debtor recorded an operating loss of $11,501 in July, an improvement from the $140,664 operating loss incurred for the previous month. At July 31, the Debtor listed total assets of $27.01 million, total liabilities of $137.95 million, and a total shareholders' equity of -$110.94 million. The Debtor had $7.51 million cash at July 1. It posted total disbursements of $11,501 for the period. As a result, the Debtor had $7.50 million cah at the end of the month. A copy of the monthly operating report is available at: http://bankrupt.com/misc/BearIslandPaper_1630_morjuly.pdf About Bear Island Canada-based White Birch Paper Company was the second largest newsprint producer in North America. As of Dec. 31, 2009, the White Birch Group held a 12% share of the North American newsprint market and employed roughly 1,300 individuals (the majority of which reside in Canada). Bear Island Paper Company, L.L.C., is a U.S.-based unit of White Birch. Bear Island filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31202) on Feb. 24, 2010. At June 30, 2011, the Company had $141.9 million in total assets, $153.2 million in total liabilities, and a stockholders' deficit of $11.3 million. White Birch filed for bankruptcy protection under Canada's Companies' Creditors Arrangement Act, before the Superior Court for the Province of Quebec, Commercial Division, Judicial District of Montreal, Canada. White Birch and five other affiliates -- F.F. Soucy Limited Partnership; F.F. Soucy, Inc. & Partners, Limited Partnership; Papier Masson Ltee; Stadacona Limited Partnership; and Stadacona General Partner, Inc. -- also sought bankruptcy protection under Chapter 15 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31234). Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia Beach, Virginia Beach, serves as counsel to White Birch in the Chapter 11 case. Richard M. Cieri, Esq., Christopher J. Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP, in New York, serve as counsel to Bear Island. Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia Beach, Virginia, serve as co-counsel to Bear Island. AlixPartners LLP serves as financial and restructuring advisors to Bear Island, and Lazard Freres & Co., serves as investment banker. Garden City Group is the claims and notice agent. Jason William Harbour, Esq., at Hunton & Williams LLP, in Richmond, Virginia, represents the Official Committee of Unsecured Creditors. Chief Judge Douglas O. Tice, Jr., handles the Chapter 11 and Chapter 15 cases. Bear Island was authorized by the bankruptcy judge in November 2010 to sell the business to a group consisting of Black Diamond Capital Management LLC, Credit Suisse Group AG and Caspian Capital Advisors LLC. The sale closed in September 2012. The caption for Bear Island's case was changed to "Estate BIPCO, LLC" as required by the asset sale agreement. Under a plan proposed for Bear Island, first- and second-lien creditors with $424.9 million and $105.1 million in claims, respectively, are expected to recover between 0.5 percent and 4 percent. Unsecured creditors with $1.4 million in claims are to receive the same dividend. BEAR ISLAND: August Cash Balance Slightly Down to $7.49 Million --------------------------------------------------------------- Bear Island Paper Company, LLC, n/k/a Estate BIPCO, LLC, filed, on Oct. 16, 2014, its monthly operating report for the month of August 2014. The Debtor suffered an operating loss of $14,764 in August, an increase from the $11,501 operating loss recorded for the previous month. At Aug. 30, the Debtor reported $27 million in total assets, $137.95 million in total liabilities, and -$110.95 million in total shareholders' equity. The Debtor started August with $7.50 million cash. It posted $14,764 in total disbursements for the month. At Aug. 31, the Debtor had $7.49 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/BearIslandPaper_1631_moraugust.pdf About Bear Island Canada-based White Birch Paper Company was the second largest newsprint producer in North America. As of Dec. 31, 2009, the White Birch Group held a 12% share of the North American newsprint market and employed roughly 1,300 individuals (the majority of which reside in Canada). Bear Island Paper Company, L.L.C., is a U.S.-based unit of White Birch. Bear Island filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31202) on Feb. 24, 2010. At June 30, 2011, the Company had $141.9 million in total assets, $153.2 million in total liabilities, and a stockholders' deficit of $11.3 million. White Birch filed for bankruptcy protection under Canada's Companies' Creditors Arrangement Act, before the Superior Court for the Province of Quebec, Commercial Division, Judicial District of Montreal, Canada. White Birch and five other affiliates -- F.F. Soucy Limited Partnership; F.F. Soucy, Inc. & Partners, Limited Partnership; Papier Masson Ltee; Stadacona Limited Partnership; and Stadacona General Partner, Inc. -- also sought bankruptcy protection under Chapter 15 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31234). Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia Beach, Virginia Beach, serves as counsel to White Birch in the Chapter 11 case. Richard M. Cieri, Esq., Christopher J. Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP, in New York, serve as counsel to Bear Island. Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia Beach, Virginia, serve as co-counsel to Bear Island. AlixPartners LLP serves as financial and restructuring advisors to Bear Island, and Lazard Freres & Co., serves as investment banker. Garden City Group is the claims and notice agent. Jason William Harbour, Esq., at Hunton & Williams LLP, in Richmond, Virginia, represents the Official Committee of Unsecured Creditors. Chief Judge Douglas O. Tice, Jr., handles the Chapter 11 and Chapter 15 cases. Bear Island was authorized by the bankruptcy judge in November 2010 to sell the business to a group consisting of Black Diamond Capital Management LLC, Credit Suisse Group AG and Caspian Capital Advisors LLC. The sale closed in September 2012. The caption for Bear Island's case was changed to "Estate BIPCO, LLC" as required by the asset sale agreement. Under a plan proposed for Bear Island, first- and second-lien creditors with $424.9 million and $105.1 million in claims, respectively, are expected to recover between 0.5 percent and 4 percent. Unsecured creditors with $1.4 million in claims are to receive the same dividend. BEAR ISLAND: Records $100 Operating Loss for September ------------------------------------------------------ Bear Island Paper Company, LLC, n/k/a Estate BIPCO, LLC, filed, on Oct. 16, 2014, a monthly operating report for September 2014. The Debtor recorded a $100 operating net loss in September. For September, the Debtor posted $27 million in total assets, $137.95 million in total liabilities, and -$110.95 million in total shareholders' equity. The Debtor had $7,486,944 cash at Sept. 1. It listed total disbursements of $100 for the month. At the end of the month, the Debtor had $7,486,844 cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/BearIslandPaper_1632_morseptember.pdf About Bear Island Canada-based White Birch Paper Company was the second largest newsprint producer in North America. As of Dec. 31, 2009, the White Birch Group held a 12% share of the North American newsprint market and employed roughly 1,300 individuals (the majority of which reside in Canada). Bear Island Paper Company, L.L.C., is a U.S.-based unit of White Birch. Bear Island filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31202) on Feb. 24, 2010. At June 30, 2011, the Company had $141.9 million in total assets, $153.2 million in total liabilities, and a stockholders' deficit of $11.3 million. White Birch filed for bankruptcy protection under Canada's Companies' Creditors Arrangement Act, before the Superior Court for the Province of Quebec, Commercial Division, Judicial District of Montreal, Canada. White Birch and five other affiliates -- F.F. Soucy Limited Partnership; F.F. Soucy, Inc. & Partners, Limited Partnership; Papier Masson Ltee; Stadacona Limited Partnership; and Stadacona General Partner, Inc. -- also sought bankruptcy protection under Chapter 15 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 10-31234). Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia Beach, Virginia Beach, serves as counsel to White Birch in the Chapter 11 case. Richard M. Cieri, Esq., Christopher J. Marcus, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis LLP, in New York, serve as counsel to Bear Island. Jonathan L. Hauser, Esq., at Troutman Sanders LLP, in Virginia Beach, Virginia, serve as co-counsel to Bear Island. AlixPartners LLP serves as financial and restructuring advisors to Bear Island, and Lazard Freres & Co., serves as investment banker. Garden City Group is the claims and notice agent. Jason William Harbour, Esq., at Hunton & Williams LLP, in Richmond, Virginia, represents the Official Committee of Unsecured Creditors. Chief Judge Douglas O. Tice, Jr., handles the Chapter 11 and Chapter 15 cases. Bear Island was authorized by the bankruptcy judge in November 2010 to sell the business to a group consisting of Black Diamond Capital Management LLC, Credit Suisse Group AG and Caspian Capital Advisors LLC. The sale closed in September 2012. The caption for Bear Island's case was changed to "Estate BIPCO, LLC" as required by the asset sale agreement. Under a plan proposed for Bear Island, first- and second-lien creditors with $424.9 million and $105.1 million in claims, respectively, are expected to recover between 0.5 percent and 4 percent. Unsecured creditors with $1.4 million in claims are to receive the same dividend. DIGITAL DOMAIN: Had $5.11 Million Cash at June 30 ------------------------------------------------- DDMG Estate, fka Digital Domain Media Group, Inc., and its subsidiaries, filed, on Oct. 24, 2014, their monthly operating report for June 2014. The Debtors' statement of operations showed a net loss of $1.09 million on zero revenue in June, a slight increase from the $1.07 million net loss incurred for May. At June 30, the Debtors had total assets of $11.42 million, total liabilities of $129.52 million, and a total shareholders' equity of -$118.10 million. The Debtors started June with $5.16 million cash. They listed total receipts of $615 and total disbursements of $49,464. The disbursements include $48,433 in professional fees. At month end, the Debtors had $5.11 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/DigitalDomain_1374_morJune.pdf About Digital Domain Port St. Lucie, Florida-based Digital Domain Media Group, Inc. -- http://www.digitaldomain.com/-- engaged in the creation of original content animation feature films, and development of computer-generated imagery for feature films and trans-media advertising primarily in the United States. Digital Domain Media Group, Inc. and 13 affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 12-12568) on Sept. 11, 2012, to sell its business for $15 million to Searchlight Capital Partners LP, subject to higher and better offers. The Company disclosed assets of $205 million and liabilities totaling $214 million. The Debtors also have sought ancillary relief in Canada, pursuant to the Companies' Creditors Arrangement Act in the Supreme Court of British Columbia, Vancouver Registry. Attorneys at Pachulski Stang Ziehl & Jones serve as counsel to the Debtors. FTI Consulting, Inc.'s Michael Katzenstein is the chief restructuring officer. Kurtzman Carson Consultants LLC is the claims and notice agent. An official committee of unsecured creditors appointed in the case is represented by lawyers at Sullivan Hazeltine Allinson LLC and Brown Rudnick LLP. At a bankruptcy auction, the principal part of the business was purchased by a joint venture between Galloping Horse America LLC, an affiliate of Beijing Galloping Horse Co., and an affiliate of Reliance Capital Ltd., based in Mumbai. The $36.7 million total value of the contact includes $3.6 million to cure defaults on contracts and $2.9 million in reimbursement of payroll costs. As the result of a settlement negotiated by the unsecured creditors' committee with secured lenders, there will be some recovery for the committee's constituency. DIGITAL DOMAIN: Cash Balance Up to $5.16 Million at July 31 ----------------------------------------------------------- DDMG Estate, fka Digital Domain Media Group, Inc., and its subsidiaries, on Oct. 24, 2014, filed their monthly operating report for the month of July 2014. The Debtors listed a net loss of $722,274 for July, an improvement from the $1.09 million net loss incurred in June. The Debtors declared $11.34 million in total assets, $130.17 million in total liabilities, and -$118.83 million in total shareholders' equity. The Debtors had $5.11 million cash at July 1. It recorded $50,615 in total receipts and $650 in total disbursements. At the end of the month, the Debtors had $5.16 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/DigitalDomain_1375_morJuly.pdf About Digital Domain Port St. Lucie, Florida-based Digital Domain Media Group, Inc. -- http://www.digitaldomain.com/-- engaged in the creation of original content animation feature films, and development of computer-generated imagery for feature films and trans-media advertising primarily in the United States. Digital Domain Media Group, Inc. and 13 affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 12-12568) on Sept. 11, 2012, to sell its business for $15 million to Searchlight Capital Partners LP, subject to higher and better offers. The Company disclosed assets of $205 million and liabilities totaling $214 million. The Debtors also have sought ancillary relief in Canada, pursuant to the Companies' Creditors Arrangement Act in the Supreme Court of British Columbia, Vancouver Registry. Attorneys at Pachulski Stang Ziehl & Jones serve as counsel to the Debtors. FTI Consulting, Inc.'s Michael Katzenstein is the chief restructuring officer. Kurtzman Carson Consultants LLC is the claims and notice agent. An official committee of unsecured creditors appointed in the case is represented by lawyers at Sullivan Hazeltine Allinson LLC and Brown Rudnick LLP. At a bankruptcy auction, the principal part of the business was purchased by a joint venture between Galloping Horse America LLC, an affiliate of Beijing Galloping Horse Co., and an affiliate of Reliance Capital Ltd., based in Mumbai. The $36.7 million total value of the contact includes $3.6 million to cure defaults on contracts and $2.9 million in reimbursement of payroll costs. As the result of a settlement negotiated by the unsecured creditors' committee with secured lenders, there will be some recovery for the committee's constituency. EDGENET INC: Cash Balance Dips to $12.52 Million at Sept. 30 ------------------------------------------------------------ Edgenet, Inc., nka EI Windown Inc., filed, on Oct. 14, 2014, its monthly operating report for September 2014. The Debtor recorded a net loss of $172,000 for the month. The Debtor listed $12.74 million in total assets, $102.63 million in total liabilities, and -$223.02 million in total shareholders' equity. The Debtor had $17.61 million cash at Sept. 1. It reported $20,000 in total receipts and $5.10 million in total disbursements. The Debtor incurred $86,497 in professional fees. At the end of the month, the Debtor had $12.52 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/EDGENETINCsept2014mor.pdf About Edgenet Inc. Edgenet, Inc., and Edgenet Holding Corp. are providers of cloud- based content and applications that enable companies to sell more products and services with greater ease across multiple channels and devices. Edgenet has three business locations: Waukesha, WI, Brentwood, TN, and its main office in Atlanta, GA. Edgenet Inc. and Edgenet Holding filed for Chapter 11 bankruptcy protection in Delaware (Lead Case No. 14-10066) on Jan. 14, 2014. Edgenet Inc. estimated assets of at least $10 million and liabilities of $100 million to $500 million. Raymond Howard Lemisch, Esq., at Klehr Harrison Harvey Branzburg LLP, in Wilmington, Delaware, serves as counsel to the Debtors; Glass Ratner Advisory & Capital Group LLC is the financial advisor; JMP Securities, LLC, is the investment banker, and Phase Eleven Consultants, LLC, is the claims and noticing agent. The U.S. Trustee did not form an official unsecured creditors committee as no sufficient interest has been generated from creditors. Fred Marxer, Timothy Choate and Davis Carr, individuals and holders of a segment of the promissory notes issued in 2004 that have been referred to by Edgenet, Inc., et al., requested that the Court issue an order appointing an official committee of Seller Noteholders, or in the alternative, an official committee of unsecured creditors, with members appointed from the Seller Noteholders who agree to waive any continued security interest arising from the Seller Notes. Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed on March 13, 2014, five noteholders to serve on the Official Committee of Note Holders. In May, Bankruptcy Judge Brendan L. Shannon denied Edgenet Inc., et al.'s motion to disband the Noteholders Committee. The Noteholders Committee has retained Morris James LLP's Jeffrey R. Waxman, Esq.; and Cooley LLP's Cathey Hershcopf, Esq., and Jeffrey L. Cohen, Esq., as co-counsel to the Committee. An auction of the Debtors' assets was held on June 6, 2014, and EdgeAQ, L.L.C., was declared the successful bidder. The Bankruptcy Court approved the sale on June 12, and the sale closed on June 16. Edgenet Inc. changed its name to El Wind Down, Inc., and Edgenet Holding Corporation to EHC Holding Wind Down Corp. HOSTESS BRANDS: Net Loss Falls to $762,000 at Sept. 20 ------------------------------------------------------ Old HB, Inc., fka Hostess Brands, Inc., et al., on Oct. 24, 2014, filed a monthly operating report for the period from Aug. 24 to Sept. 20, 2014. The Debtors listed a net loss of $762,000 for the current reporting period, a huge decrease from the $44.12 million net loss recorded at Aug. 23. At Sept. 20, the Debtors posted $130.76 million in total assets, $2.54 billion in total liabilities, and -$2.41 billion in total shareholders' equity. The Debtors had a cash balance of $28.79 million at Aug. 24. They posted $76,000 in total receipts and $1.16 million in total disbursements for the reporting period. The Debtors incurred professional fees of $475,000. At Sept. 20, the Debtors had $27.71 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/HostessBrands_3449_morSeptember.pdf About Hostess Brands Founded in 1930, Irving, Texas-based Hostess Brands Inc., is known for iconic brands such as Butternut, Ding Dongs, Dolly Madison, Drake's, Home Pride, Ho Hos, Hostess, Merita, Nature's Pride, Twinkies and Wonder. Hostess has 36 bakeries, 565 distribution centers and 570 outlets in 49 states. Hostess filed for Chapter 11 bankruptcy protection early morning on Jan. 11, 2011 (Bankr. S.D.N.Y. Case Nos. 12-22051 through 12-22056) in White Plains, New York. Hostess Brands disclosed assets of $982 million and liabilities of $1.43 billion as of the Chapter 11 filing. The bankruptcy filing was made two years after predecessors Interstate Bakeries Corp. and its affiliates emerged from bankruptcy (Bankr. W.D. Mo. Case No. 04-45814). In the new Chapter 11 case, Hostess has hired Jones Day as bankruptcy counsel; Stinson Morrison Hecker LLP as general corporate counsel and conflicts counsel; Perella Weinberg Partners LP as investment bankers, FTI Consulting, Inc. to provide an interim treasurer and additional personnel for the Debtors, and Kurtzman Carson Consultants LLC as administrative agent. Matthew Feldman, Esq., at Willkie Farr & Gallagher, and Harry Wilson, the head of turnaround and restructuring firm MAEVA Advisors, are representing the Teamsters union. Attorneys for The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union and Bakery & Confectionery Union & Industry International Pension Fund are Jeffrey R. Freund, Esq., at Bredhoff & Kaiser, P.L.L.C.; and Ancela R. Nastasi, Esq., David A. Rosenzweig, Esq., and Camisha L. Simmons, Esq., at Fulbright & Jaworski L.L.P. The official committee of unsecured creditors selected New York law firm Kramer Levin Naftalis & Frankel LLP as its counsel. Tom Mayer and Ken Eckstein head the legal team for the committee. Hostess Brands in mid-November 2012 opted to pursue the orderly wind down of its business and sale of its assets after the Bakery, Confectionery, Tobacco and Grain Millers Union (BCTGM) commenced a nationwide strike. The Debtor failed to reach an agreement with BCTGM on contract changes. Hostess Brands sold its businesses and most of the plants to five different buyers for an aggregate of $860 million. Hostess still has some plants, depots and other facilities the buyers didn't acquire. The bankruptcy estate has changed its name to Old HB Inc. IBCS MINING: Cash Balance Dips Further to $77,488 at Sept. 30 ------------------------------------------------------------- IBCS Mining, Inc., on Oct. 15, 2014, filed its monthly operating report for the month of September 2014. The Debtor posted a net loss of $216,929 in September on net revenues of $279,116, a small decrease from the $258,812 net loss reported in August. At Sept. 30, the Debtor declared $5.32 million in total assets, $6.47 million in total liabilities, and -$1.14 million in total shareholders' equity. The Debtor had $261,231 cash at Sept. 1. It listed total receipts of $186,725 and total disbursements of $370,468 for the month. As a result, the Debtor had $77,488 cash at the end of September. A copy of the monthly operating report is available at: http://bankrupt.com/misc/MININGsept2014mor.pdf About IBCS Mining IBCS Mining, Inc., and IBCS Mining, Inc., Kentucky Division, filed separate Chapter 11 bankruptcy petitions (Bankr. W.D. Va. Case Nos. 14-61215 and 14-61216) on June 27, 2014. Edmund Scarborough signed the petition as president. Hirschler Fleischer, P.C., serves as the Debtors' counsel. The Court on July 8, 2014, authorized the joint administration of the cases. The cases are assigned to Judge Kevin R. Huennekens. IBCS Mining estimated assets and debts of at least $10 million. IBCS Mining Inc. disclosed $6,914,815 in assets and $7,279,157 in liabilities. The U.S. Trustee for Region 4 appointed two creditors to serves in the Official Committee of Unsecured Creditors. LEHMAN BROTHERS: Reports $14.6-Bil. in Cash as of Aug. 31 --------------------------------------------------------- Lehman Brothers Holdings Inc. disclosed these cash receipts and disbursements of the company, its affiliated debtors and controlled entities for the month ended August 31, 2014: Beginning Total Cash & Investments (08/01/14) $13,711,000,000 Total Sources of Cash 967,000,000 Total Uses of Cash (89,000,000) FX Fluctuation (2,000,000) --------------- Ending Total Cash & Investments (08/31/14) $14,588,000,000 LBHI reported $6.996 billion in cash and investments as of August 1, 2014, and $7.149 billion as of August 31, 2014. The monthly operating report also showed that Lehman paid a total of $15.679 million in August for bankruptcy professionals' fees, of which $2.507 million went to its turnaround manager Alvarez & Marsal LLC. A copy of the August 2014 Operating Report is available for free at http://is.gd/GMRKgN June 30 Balance Sheet Meanwhile, the Debtors filed with the U.S. Bankruptcy Court in Manhattan a copy of their balance sheet as of June 30, 2014. The document shows that as of June 30, 2014, the Lehman parent had total assets of $54.164 billion, total liabilities of $210.529 billion and total stockholders' equity of ($156.365) billion. A full-text copy of the balance sheet is available without charge at http://is.gd/xPTH5W About Lehman Brothers Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the fourth largest investment bank in the United States. For more than 150 years, Lehman Brothers has been a leader in the global financial markets by serving the financial needs of corporations, governmental units, institutional clients and individuals worldwide. Lehman Brothers filed for Chapter 11 bankruptcy Sept. 15, 2008 (Bankr. S.D.N.Y. Case No. 08-13555). Lehman's bankruptcy petition disclosed US$639 billion in assets and US$613 billion in debts, effectively making the firm's bankruptcy filing the largest in U.S. history. Several other affiliates followed thereafter. Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset LLC sought for bankruptcy protection in December 2009. The Debtors' bankruptcy cases are handled by Judge James M. Peck. Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife, Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil, Gotshal & Manges, LLP, in New York, represent Lehman. Epiq Bankruptcy Solutions serves as claims and noticing agent. Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve as counsel to the Official Committee of Unsecured Creditors. Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's investment banker. On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S. District Court for the Southern District of New York, entered an order commencing liquidation of Lehman Brothers, Inc., pursuant to the provisions of the Securities Investor Protection Act (Case No. 08-CIV-8119 (GEL)). James W. Giddens has been appointed as trustee for the SIPA liquidation of the business of LBI. The Bankruptcy Court approved Barclays Bank Plc's purchase of Lehman Brothers' North American investment banking and capital markets operations and supporting infrastructure for US$1.75 billion. Nomura Holdings Inc., the largest brokerage house in Japan, purchased LBHI's operations in Europe for US$2 plus the retention of most of employees. Nomura also bought Lehman's operations in the Asia Pacific for US$225 million. Lehman emerged from bankruptcy protection on March 6, 2012, more than three years after it filed the largest bankruptcy in U.S. history. The Chapter 11 plan for the Lehman companies other than the broker was confirmed in December 2011. Lehman made its first payment of $22.5 billion to creditors in April 2012 and a second payment of $10.2 billion on Oct. 1. A third distribution is set for around March 30, 2013. The brokerage is yet to make a first distribution to non-customers. Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers Bankruptcy News. The newsletter tracks the Chapter 11 proceeding undertaken by Lehman Brothers Holdings, Inc., and other insolvency and bankruptcy proceedings undertaken by its affiliates. LIFE UNIFORM: Posts $1.87 Million in Total Assets in July --------------------------------------------------------- Life Uniform Holding Corp. and its affiliates, nka LUHC Wind Down Corp., et al., on Oct. 8, 2014, filed their monthly operating report for July 2014. At the end of July, the Debtors posted total assets of $1.87 million, total liabilities subject to compromise of $65.17 million, and total shareholders' deficit of $67.04 million. The Debtors listed zero receipts and $7,902 in total disbursements for the month. A copy of the monthly operating report is available at: http://bankrupt.com/misc/LifeUniform_560_morJuly.pdf About Life Uniform Life Uniform was founded in 1965 when Angelica Corporation decided to enter the retail uniform industry. The first Life Uniform store opened in 1965 in Clayton, Missouri. At present, Life Uniform is the nation's largest independently owned medical professional supplier. Sun Uniform LLC acquired Life Uniform in July 2004. Since the acquisition by Sun the company addressed sagging profitability and overhead issues and quickly drove increases in profitability through a combination of store rationalization and sensible corporate overhead initiatives. However, recent performance has been declining in terms of revenue. This is due to the company's liquidity issues, which prevented the company from completing its e-commerce system upgrade, encourage better pricing from vendors, and maintain sufficient capital. Life Uniform Holding Corp., Healthcare Uniform Company, Inc., and Uniform City National Inc. filed Chapter 11 petitions (Bankr. D. Del. Case Nos. 13-11391 to 13-11393) on May 29, 2013. The petitions were signed by Bryan Graiff, COO, CFO, VP, secretary, and treasurer. Life Uniform Holding disclosed $10,695,870 in assets and $36,821,034 in liabilities as of the Chapter 11 filing. Life Uniform and Uniform City received court authority on July 26, 2013, to sell the business for $22.6 million to Scrubs & Beyond LLC. There were no competing bids, so an auction wasn't held. Effective as of Aug. 26, 2013, the Bankruptcy Court authorized changes to the name and caption of the Debtors' cases: (1) Life Uniform Holding Corp. changed to LUHC Wind Down Corp.; (2) Healthcare Uniform Company, Inc. changed to HUCI Wind Down, Inc.; and (3) Uniform City National, Inc., changed to UCNI Wind Down, Inc. First lien lender CapitalSource Finance LLC is owed on a $11.5 million revolver and $26 million term loan. CapitalSource is represented by Brian T. Rice, Esq., at Brown Rudnick LLP; and Jeffrey C. Wisler, Esq., at Connolly Gallagher LLP. Sun Uniforms Finance LLC is owed $6.1 million in principal on a second lien note and holds two additional notes, each in the original principal of $1.08 million. Angelica Corp. holds an unsecured junior subordinate not in the principal amount of $5.48 million. Domenic E. Pacitti, Esq., at Klehr Harrison Harvey Branzburg, LLP, serves as the Debtors' counsel. Epiq Bankruptcy Solutions acts as the Debtors' administrative agent, and claims and noticing agent. he Debtors' financial advisor is Capstone Advisory Group, LLC. rowe Horwath LLP serves as tax accountants and Brown Smith Wallace LLC as wind-down tax accountants. Richard Stern, Esq., at Luskin Stern & Eisler LLP, was appointed independent fee examiner in the case. Luskin, Stern & Eisler LLP serves as his counsel and The Rosner Law Group LLC, serves as his Delaware counsel. The Official Committee of Unsecured Creditors is represented by Seth Van Aalten, Esq., at Cooley LLP, and Ann M. Kashishian, Esq., at Cousins Chipman & Brown, LLP as counsel. The U.S Trustee for Region 3 appointed Boris Segalis of InfoLawGroup LLP as consumer privacy ombudsman in the case. LIFE UNIFORM: Reports $1.84 Million in Total Assets in August ------------------------------------------------------------- Life Uniform Holding Corp. and its affiliates, nka LUHC Wind Down Corp., et al., on Oct. 8, 2014, filed their monthly operating report for August 2014. At Aug. 31, the Debtors reported total assets of $1.84 million, total liabilities subject to compromise of $65.17 million, and a total shareholders' deficit of $67.01 million. The Debtors posted for August total cash receipts of $252 and total disbursements of $29,236. A copy of the monthly operating report is available at: http://bankrupt.com/misc/LifeUniform_561_morAugust.pdf About Life Uniform Life Uniform was founded in 1965 when Angelica Corporation decided to enter the retail uniform industry. The first Life Uniform store opened in 1965 in Clayton, Missouri. At present, Life Uniform is the nation's largest independently owned medical professional supplier. Sun Uniform LLC acquired Life Uniform in July 2004. Since the acquisition by Sun the company addressed sagging profitability and overhead issues and quickly drove increases in profitability through a combination of store rationalization and sensible corporate overhead initiatives. However, recent performance has been declining in terms of revenue. This is due to the company's liquidity issues, which prevented the company from completing its e-commerce system upgrade, encourage better pricing from vendors, and maintain sufficient capital. Life Uniform Holding Corp., Healthcare Uniform Company, Inc., and Uniform City National Inc. filed Chapter 11 petitions (Bankr. D. Del. Case Nos. 13-11391 to 13-11393) on May 29, 2013. The petitions were signed by Bryan Graiff, COO, CFO, VP, secretary, and treasurer. Life Uniform Holding disclosed $10,695,870 in assets and $36,821,034 in liabilities as of the Chapter 11 filing. Life Uniform and Uniform City received court authority on July 26, 2013, to sell the business for $22.6 million to Scrubs & Beyond LLC. There were no competing bids, so an auction wasn't held. Effective as of Aug. 26, 2013, the Bankruptcy Court authorized changes to the name and caption of the Debtors' cases: (1) Life Uniform Holding Corp. changed to LUHC Wind Down Corp.; (2) Healthcare Uniform Company, Inc. changed to HUCI Wind Down, Inc.; and (3) Uniform City National, Inc., changed to UCNI Wind Down, Inc. First lien lender CapitalSource Finance LLC is owed on a $11.5 million revolver and $26 million term loan. CapitalSource is represented by Brian T. Rice, Esq., at Brown Rudnick LLP; and Jeffrey C. Wisler, Esq., at Connolly Gallagher LLP. Sun Uniforms Finance LLC is owed $6.1 million in principal on a second lien note and holds two additional notes, each in the original principal of $1.08 million. Angelica Corp. holds an unsecured junior subordinate not in the principal amount of $5.48 million. Domenic E. Pacitti, Esq., at Klehr Harrison Harvey Branzburg, LLP, serves as the Debtors' counsel. Epiq Bankruptcy Solutions acts as the Debtors' administrative agent, and claims and noticing agent. he Debtors' financial advisor is Capstone Advisory Group, LLC. rowe Horwath LLP serves as tax accountants and Brown Smith Wallace LLC as wind-down tax accountants. Richard Stern, Esq., at Luskin Stern & Eisler LLP, was appointed independent fee examiner in the case. Luskin, Stern & Eisler LLP serves as his counsel and The Rosner Law Group LLC, serves as his Delaware counsel. The Official Committee of Unsecured Creditors is represented by Seth Van Aalten, Esq., at Cooley LLP, and Ann M. Kashishian, Esq., at Cousins Chipman & Brown, LLP as counsel. The U.S Trustee for Region 3 appointed Boris Segalis of InfoLawGroup LLP as consumer privacy ombudsman in the case. LONGVIEW POWER: Had $1.54 Million Net Loss in September ------------------------------------------------------- Longview Power, LLC, et al. filed, on Oct. 27, 2014, filed a monthly operating report for September 2014. The Debtors incurred a net loss before tax of $9.54 million in September on total revenues of $16.44 million. At Sept. 30, the Debtors declared total assets of $1.71 billion, total other current liabilities of $1.01 billion, total other non-current liabilities of $73.40 million, and a total shareholders' equity of $674.94 million. The Debtors had $38.16 million cash at Sept. 1. They recorded total receipts of $51.37 million and total disbursements of $55.05 million. Among the disbursements include professional fees of $1.57 million. At Sept. 30, the Debtors had $34.47 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/LongviewPower_1552_morSeptember.pdf About Longview Power LLC Longview Power LLC is a special purpose entity created to construct, own, and operate a 695 MW supercritical pulverized coal-fired power plant located in Maidsville, West Virginia, just south of the Pennsylvania border and approximately 70 miles south of Pittsburgh. The project is owned 92% by First Reserve Corporation (First Reserve or sponsor), a private equity firm specializing in energy industry investments, through its affiliate GenPower Holdings (Delaware), L.P., and 8% by minority interests. Longview Power, LLC, filed a Chapter 11 (Bank. D. Del. Lead Case 13-12211) on Aug. 30, 2013. The petitions were signed by Jeffery L. Keffer, the Company's chief executive officer, president, treasurer and secretary. The Debtor estimated assets and debts of more than $1 billion. Judge Brendan Linehan Shannon presides over the case. Kirkland & Ellis LLP and Richards, Layton & Finger, P.A., serve as the Debtors' counsel. Lazard Freres & Company LLC acts as the Debtors' investment bankers. Alvarez & Marsal North America, LLC, is the Debtors' restructuring advisors. Ernst & Young serves as the Debtors' accountants. The Debtors' claims agent is Donlin, Recano & Co. Inc. The Debtor disclosed assets of $1,717,906,595 plus undisclosed amounts and liabilities of $1,075,748,155 plus undisclosed amounts. Roberta A. DeAngelis, U.S. Trustee for Region 3, disclosed that as of Sept. 11, 2013, a committee of unsecured creditors has not been appointed in the case due to insufficient response to the U.S. Trustee's communication/contact for service on the committee. MIG LLC: Reports $402,968 Net Loss in September ----------------------------------------------- MIG, LLC, et al., filed, on Oct. 23, 2014, its monthly operating report for September 2014. The Debtor reported a net loss of $402,968 in September, an increase from the $241,361 net loss recorded for the previous month. At Sept. 30, the Debtor had $113.53 million in total assets, $280.69 million in total liabilities, and -$167.17 million in total shareholders' equity. The Debtor started September with $1.31 million cash. It posted zero receipts and $111,110 in total disbursements. Among the disbursements include $21,270 in professional fees. At Sept. 30, the Debtor had $1.20 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/MIGLLCsept2014mor.pdf About MIG LLC Formerly operating under the name "Metromedia International Group, Inc.," MIG LLC -- http://www.migllc-group.com/-- owned and operated and sold dozens of companies in diverse industries, including entertainment, photo finishing, garden equipment and sporting goods, until the late 1990s. In 1997 and 1998, MIG consummated the sale of substantially all of its U.S.-based entertainment assets and began focusing on expanding into emerging communications and media businesses. By 2005, all of MIG's operating businesses were located in the Republic of Georgia and operated through its subsidiaries. MIG LLC and affiliate ITC Cellular, LLC, filed for Chapter 11 bankruptcy protection on June 30, 2014. The cases are currently jointly administered under Bankr. D. Del. Lead Case No. 14-11605. As of the bankruptcy filing, MIG's sole valuable asset, beyond its existing cash, is its indirect interest in Magticom Ltd. The cases are assigned to Judge Kevin Gross. MIG LLC disclosed $15,939,125 in assets and $253,713,467 in liabilities. Headquartered in Tbilisi, Georgia, Magticom is the leading mobile telephony operator in Georgia and is also the largest telephone operator in Georgia. Magticom serves 2.4 million subscribers with a network that covers 97% of the populated regions in Georgia. Magticom is owned by International Telcell Cellular, LLC, which is 46% owned by MIG unit ITC Cellular, 51% owned by Dr. George Jokhtaberidze, and 3% owned by Gemstone Management Ltd. Formerly known as MIG, Inc., MIG was a debtor in a previous case (Bankr. D. Del. Case NO. 09-12118). It obtained approval of its reorganization plan in November 2010. The Debtors have tapped Greenberg Traurig LLP as counsel, Fox Rothschild Inc. as financial advisor; Cousins Chipman and Brown, LLP as conflicts counsel; and Prime Clerk LLC as claims and notice agent and administrative advisor. The Debtors have retained Natalia Alexeeva as chief restructuring officer. A three-member panel has been appointed in these cases to serve as the official committee of unsecured creditors, consisting of Walter M. Grant, Paul N. Kiel, and Lawrence P. Klamon. NOBLE LOGISTICS: Cash Balance Steady at $999,034 in September ------------------------------------------------------------- Noble Logistics, Inc., and its affiliates, on Oct. 20, 2014, filed an operating report for the month of September 2014. The Debtors started and ended the month with $999,034 cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/NobleLogistics_225_morSeptember.pdf About Noble Logistics, Inc. Noble Logistics, Inc. filed a Chapter 11 petition (Bankr. D. Del. Case No. 14-10442) on Feb. 28, 2014 in Delaware. About eight affiliates of Noble Logistics also filed separate bankruptcy cases on Feb. 28. Gregg M. Galardi, Esq., and Emily A. Battersby, Esq. at DLA PIPER LLP, serve as counsel to the Debtor. The Debtor estimated $10 million to $50 million in both assets and liabilities. On March 24, 2014, Roberta A. DeAngelis, U.S. Trustee Region 3, notified the Bankruptcy Court that she has been unable to appoint a creditors committee in the Debtors' Chapter 11 cases due to insufficient response to the Trustee's communication/contact for service on the committee. PACIFIC STEEL: Net Loss Improves to $106,289 in September --------------------------------------------------------- Pacific Steel Casting Company, on Oct. 23, 2014, filed its monthly operating report for the month of September 2014. The Debtor incurred a net loss of $106,289 on revenue of $1 in September, an improvement from the $929,297 net loss suffered for the previous month. At Sept. 30, the Debtor recorded total assets of $17.33 million, total liabilities of $48.15 million, and a total shareholders' equity of -$30.83 million. The Debtor had a cash balance of $2.32 million at the beginning of September. It listed total cash receipts of $14.70 million and total cash disbursements of $13.59 million for the month. At month end, the Debtor had a $3.43 million cash balance. A copy of the monthly operating report is available at: http://bankrupt.com/misc/PacificSteel_386_morSeptember.pdf About Pacific Steel Casting, Berkeley Properties Pacific Steel Casting Company and Berkeley Properties, LLC, separately filed Chapter 11 bankruptcy petitions (Bankr. N.D. Cal. Case Nos. 14-41045 and 14-41048) on March 10, 2014. Pacific Steel's petition was signed by Charles H. Bridges, Jr., chief financial officer and director. Michael W. Malter, Esq., at Binder & Malter, LLP serves as the Debtors' counsel. Epiq Bankruptcy Solutions, LLC, is the Debtors' claims, noticing and balloting agent. Burr Pilger Mayer, a certified public accounting firm, serves as financial consultants. Pacific Steel makes carbon, low-alloy and stainless steel castings for U.S. and international customers, largely for heavy-duty trucks and construction equipment. Tracy Hope Davis, the United States Trustee for Region 17, appointed seven creditors to serve on the Official Committee of Unsecured Creditors. The Committee is represented by Ori Katz, Esq., and Michael M. Lauter, Esq., at Sheppard, Mullin, Richter & Hampton LLP. The Debtors in July 2014 won court approval to sell their fourth- generation family-owned steel foundry for $11.3 million cash plus assumption of specified liabilities to Speyside Fund LLC. Bankruptcy Judge Roger L. Efremsky authorized the Debtors to revise case caption to reflect the name change after the sale of assets. The case caption now reflects: Second Street Properties, and Berkeley Properties, LLC. The Debtors stated that the assets sold included the trade name "Pacific Steel Casting Company" and the commonly used abbreviation and trademark "PSC". The Debtors agreed with the buyer that the Debtors would stop using that name immediately after the closing. ********* 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 by e-mail. 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 the nation's bankruptcy courts. The list includes links to freely downloadable of these small-dollar petitions in Acrobat PDF documents. 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. ********* 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., Washington, D.C., USA. Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog, Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa, Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2014. 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 $975 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 A. 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