Showing posts with label debtors. Show all posts
Showing posts with label debtors. Show all posts

Wednesday, February 16, 2011

Borders Group Bankruptcy News: First Four Issues Free

How will Borders Group persuade its creditors to be on the same page for the book retailer's restructuring? Find out the details and more from BORDERS GROUP BANKRUPTCY NEWS.

Download the first four issues of BORDERS GROUP BANKRUPTCY NEWS for FREE at http://bankrupt.com/borders/

BORDERS GROUP BANKRUPTCY NEWS covers the bookstore chain's journey
into Chapter 11 as the Ann Arbor-based bookseller attempts to
restructure its operations. From the first four issues of BORDERS
GROUP BANKRUPTCY NEWS, a $180 value being given away for free:

* find out who the specialty retailer's largest unsecured creditors
are and how much they are owed;

* read the details of the bookstore's debtor-in-possession
financing, how much they need to pay at what dates during the
Chapter 11 process, what events will get them in trouble with
their lenders, etc.;

* learn about Borders' cash management system, its compensation
policies, its customer programs, its critical vendors, etc.;

* scrutinize the services to be rendered and fees that will be
charged by Borders' Chapter 11 professionals -- lawyers,
accountants, financial advisors, claims agent, others; and

* get an overview of the events and strategies employed as the
bookseller struggles to get its bearing during the first few
days into Chapter 11.

To receive future editions of BORDERS GROUP BANKRUPTCY NEWS:

(A) complete and return the subscription form included
in Issue No. 1 for an on-going paid subscription; or

(B) purchase single issues at http://bankrupt.com/newsstand/
using a major credit card.

BORDERS GROUP BANKRUPTCY NEWS is distributed to paying
subscribers by electronic mail. New issues are published on an
ad hoc basis as significant activity occurs (generally every 10
to 20 days) in the Debtor's cases. The subscription rate is
US$45 per issue.

Newsletters are delivered via e-mail; invoices, transmitted
following publication of each newsletter issue, arrive by fax.
Re-mailing of BORDERS GROUP BANKRUPTCY NEWS is prohibited.
Distribution to multiple individuals at the same firm is provided
at no additional charge; folks outside of your firm should set-up
and pay for their own subscriptions. Subscriptions may be
canceled at any time without further obligation.

To continue receiving BORDERS GROUP BANKRUPTCY NEWS, please
complete the subscription form included in Issue No. 1 and return
it by fax or e-mail to:

Bankruptcy Creditors' Service, Inc.
572 Fernwood Lane
Fairless Hills, PA 19030
Telephone (215) 945-7000
E-mail: peter@bankrupt.com

We have published similar newsletters tracking
billion-dollar insolvency proceedings since 1990, starting
with Federated Department Stores. Currently, we provide
similar coverage about most billion-dollar corporate
restrucutring proceedings.

We also co-publish the TROUBLED COMPANY REPORTER, tracking
more than 3,000 experiencing financial distress or
restructuring their balance sheets in a judicial proceeding.
You can request a free 30-day trial subscription to the
TROUBLED COMPANY REPORTER at http://bankrupt.com/freetrial/.

Monday, February 14, 2011

Troubled Company Reporter - Feb. 15, 2011

For a 30-day trial of the TCR , please CLICK

ACCENTIA BIOPHARMACEUTICALS: Posts $7.5-Mil. Net Loss in Q1
ACTIVECARE INC: Posts $1.7 Million Net Loss in Fiscal Q1
ADVANCED DISINFECTION: Files for Chapter 7 Liquidation
ADVANTA CORP: Court Confirms Chapter 11 Plan
AEOLUS PHARMACEUTICALS: Preferred Stock Hiked to 1.6MM Shares

AGRISOLAR SOLUTIONS: Posts $6,500 Net Loss in Dec. 31 Quarter
AKSM HOLDINGS: Judge Approves Sale to ViWinTech & Brown
AMERICAL APPAREL: 2009 Financials Now Labeled as 'Unaudited'
AMERICAN APPAREL: John Luttrell Does Not Own Any Securities
AMERICAN CAMSHAFT: $3.12MM Payments to Gerdau Not Preferential

ANCHOR BANCORP: Incurs $12.18 Million Net Loss in Dec. 31 Qtr.
ARCHIBALD ONTARIO: Case Summary & 9 Largest Unsecured Creditors
ARYX THERAPEUTICS: K. Leonard Resigns From Board of Directors
ASARCO LLC: Case vs. Barclays Transferred to Judge Hanen
ASARCO LLC: Court OKs Marten Law Group's $1.7 Mil. Fees

ASHLEY SMITH: Case Summary & 9 Largest Unsecured Creditors
AUBURN EXPRESS: Case Summary & Largest Unsecured Creditor
AW FINANCIAL: Case Summary & 3 Largest Unsecured Creditors
BAKERS FOOTWEAR: Sales Hike to $58.2MM in 13 Weeks Ended Jan. 29
BAL BAY: Case Summary & 2 Largest Unsecured Creditors

BEAVERDAM LAND: Case Summary & 5 Largest Unsecured Creditors
BF BOLTHOUSE: Moody's Gives Negative Outlook on 7x Leverage
BION ENVIRONMENTAL: Posts $3.1 Million Net Loss in Dec. 31 Quarter
BIOVEST INTERNATIONAL: Incurs $11.7MM Loss in Dec. 31 Quarter
BLOCKBUSTER INC: Diamondback Equity Stake Down to 0%

BLOCKBUSTER INC: Goldman Sachs Units Report 0.1% Equity Stake
BLOCKBUSTER INC: M.A.M., et al., Report 5.77% Equity Stake
BLOCKBUSTER INC: U.S. Trustee Closes Sec. 341 Meeting
BORCHERT LLC: Case Summary & 19 Largest Unsecured Creditors
BROWN MEDIA: BizWest Acquires Three Business Newspapers

BRUNSCHWIG & FILS: Kravet-Led Auction on March 7
CALIFORNIA COASTAL: To Present Plan for Confirmation Tomorrow
CALIFORNIA COASTAL: Gets Court's Permission to Sell Homes
CANO PETROLEUM: Trapeze Group's Equity Stake Down to 1.1%
CASCADE BANCORP: Green Equity Discloses 24.4% Equity Stake

CASCADE BANCORP: Two Directors Do Not Own Any Securities
CASCADE BANCORP: Wilbur Ross Has 24.4% Equity Stake
CASTLE HORIZON: Court Denies First Citizens' Bid to Dismiss Case
CC MEDIA: Incurs $62.67 Million Net Loss in Fourth Quarter
CEDAR FAIR: Moody's Assigns 'Ba2' Rating to $1.18 Bil. Loan

CENTRAL PACIFIC FINANCIAL: Posts $251 Million Net Loss in 2010
CHARLES LETT: Impaireds Can Appeal Without Objecting to Plan
CHEMTURA CORP: Judge Approves Mediation Over Pool Filter Claims
CHRISTENSEN REALTY: Files Amended Plan of Reorganization
CJH PETS: Case Summary & 14 Largest Unsecured Creditors

CLAIRE'S STORES: Bank Debt Trades at 2% Off in Secondary Market
CLEAR CHANNEL: Bank Debt Trades at 8% Off in Secondary Market
CLEAR CHANNEL: Intends to Amend Senior Credit Facilities
CLEAR CHANNEL: To Offer $750MM Priority Guarantee Notes Due 2021
CLEAR CHANNEL: Moody's Assigns 'Caa2' Corporate Family Rating

CLEAR CHANNEL OUTDOOR: Incurs $87.52 Million Net Loss in 2010
CLEARWIRE CORP: F. Ianna Won't Seek Re-Election as Board Member
CLEARWIRE CORP: Stockholders Approve Amendments to Equity Plan
CLEARWIRE CORP: To Swap Employee Stock Options With New RSUs
CLOVERLEAF ENTERPRISES: Wins Formal Approval to Sell to Penn

CMB III: Files Proposed Plan of Reorganization
COMPOSITE TECHNOLOGY: Posts $3.2MM Net Loss in December 31 Quarter
CONGRESS SAND: Files Proposed Plan of Reorganization
CRC HEALTH: Moody's Puts 'B1' Rating on Senior Secured Bank Loan
CREDIT-BASED ASSET: Files Liquidating Chapter 11 Plan

CRYOPORT INC: Closes First Round of Private Placement for $4.4MM
CRYSTALLEX INT'L: Mine Contract in Venezuela Terminated
DEEL LLC: Plan Outline Hearing Scheduled for March 21
DELPHI CORP: Investigators Probe GM Funding of New Pensions
DELTA AIR: Pays $313 Million in Profit Sharing to Employees

DENNY HECKER: Sentenced to 10 Years, Fined $31 Million
DENNY'S CORPORATION: Keeley Asset Discloses 9.0% Equity Stake
DIAMOND RANCH: Reports $20,500 Net Income in Dec. 31 Quarter
DIPAK DESAI: Nevada Mutual Renews Motion for Ch. 7 Liquidation
DIPAK DESAI: Terms of Creditors Committee's Proposed Plan

DONALD LINDSEY: Case Summary & 20 Largest Unsecured Creditors
DOWLING COLLEGE: S&P Downgrades Long-Term Debt Rating to 'BB'
DS WATERS: Placed by S&P on Watch Negative due to Refinancing Risk
ENERGY XXI: Fitch Assigns 'B/RR4' Rating to $250 Mil. Notes
ENERGY XXI: Moody's Assigns 'Caa1' Rating to $250 Mil. Notes

ENERGY XXI: S&P Assigns 'B' Senior Rating to $250 Mil. Notes
ESCALON MEDICAL: Posts $1.0 Million Loss in Dec. 31 Quarter
FIRST FOLIAGE: Sells Assets to Costa Farms for $22 Million
FIRSTFED FINANCIAL: Plan Set for March 29 Confirmation
FORD MOTOR: Note Redemption Won't Affect Moody's 'Ba2' Rating

FORUM HEALTH: Debtor & Committee Have Competing Ch. 11 Plans
FREESCALE SEMICONDUCTOR: To Raise Up to $1.15 Billion in IPO
G-I HOLDINGS: Asbestos Property Damage Claim Was Time-Barred
GENERAL MOTORS: Investigators Probe Funding of New Delphi Pensions
GENERAL MOTORS: Treasury Could Exit From New GM Next Year

GREENBRIER COS: Keeley Discloses 8.9% Equity Stake
GREENSHIFT CORP: CEO Hopeful to Make Additional Progress in 2011
GUITAR CENTER: Bank Debt Trades at 2% Off in Secondary Market
GUNNALLEN FINANCIAL: M.D. Fla. Rejects Non-Debtor Releases
HAWKER BEECHCRAFT: Bank Debt Trades at 10% Off in Secondary Market

HARD ROCK HOTEL: NRFC Agrees to Forbear Until Feb. 28
HERCULES OFFSHORE: Debt Trades at 1.5% Off in Secondary Market
HOMER CITY: Fitch Downgrades Ratings on $830 Mil. Bonds to 'BB'
HUNTINGTON INGALLS: Moody's Keeps 'Ba2' Corp. Family Rating
IA GLOBAL: RXR Cross Border Discloses 5.0% Equity Stake

IMAGEWARE SYSTEMS: Bruce Toll Discloses 27.39% Equity Stake
INDEPENDENCE TAX: Dec. 31 Balance Sheet Upside-Down by $5.1-Mil.
INDEPENDENCE TAX II: Dec. 31 Balance Sheet Upside-Down by $44.9MM
INDEPENDENCE TAX III: Dec. 31 Balance Sheet Upside-Down by $27.9MM
INDEPENDENCE TAX IV: Dec. 31 Balance Sheet Upside-Down by $14.1MM

INDYMAC BANCORP: SEC Charges Former Executives With Fraud
INTERDENT INC: S&P Withdraws 'CCC' Corporate Credit Rating
INTERNATIONAL RECTIFIER: Fitch Affirms 'BB' Issuer Default Rating
INTELSAT SA: 2010 Capital Expenditures Total $932 Million
INTERTAPE POLYMER: Rutabaga Capital Discloses 3.86% Equity Stake

IRVING TANNING: Tasman Closes Purchase After Residents' Nod
JAMES HOWARD WINSLOW: Court Denies Bid for Chapter 11 Trustee
JAVO BEVERAGE: Plan Outline Hearing Set for March 16
JETBLUE AIRWAYS: Amends 2009 10-K for Trueblue Adjustments
JETBLUE AIRWAYS: Amends 2010 Q1 Report for TrueBlue Adjustment

JETBLUE AIRWAYS: Amends 2010 Q2 Report for TrueBlue Adjustment
JETBLUE AIRWAYS: Amends 2010 Q3 Report for TrueBlue Adjustment
J.F.S. INTERNATIONAL: Case Summary & Creditors List
K-V PHARMA: Filing of 10-Q for Dec. 31 Quarter Delayed
KNOLOGY INC: Proposed Refinancing Won't Affect Moody's 'B1' Rating

KOALTY TIME: Case Summary & 20 Largest Unsecured Creditors
KOBRA PETROLEUM: Case Summary & 8 Largest Unsecured Creditors
KRATOS DEFENSE: Herley Deal Won't Affect Moody's 'B3' Rating
L. FITZGERALD LESTER: Voluntary Chapter 11 Case Summary
LAS VEGAS SANDS: Moody's Upgrades Corporate Family Rating to 'Ba3'

LDK SOLAR: Offering RMB-Denominated US$-Settled Notes
LE-NATURE'S INC: Former CEO Accused of Selling Ill-Gotten Jewels
LEVEL GLOBAL: Insider Trading Probe Prompts Wind Down
LIBBEY INC: BlackRock Holds 7.47% Equity Stake
LIONCREST TOWERS: Files Plan; Wells Fargo to Be Paid Over 5 Years

LODGENET INTERACTIVE: BlackRock Discloses 6.19% Equity Stake
LONESOME PINE: Seeks Monetary Damages from Beuna Vista et al.
LSM HOTEL: Court Declines to Halt Toreador State Court Litigation
MARGAUX ORO: Asks Court's Nod to Use Wells Fargo's Cash Collateral
MARKWEST ENERGY: Fitch Assigns 'BB' Rating to $300 Mil. Notes

MESA AIR: Court OKs Settlement of GE Electric Aircraft Claims
MESA AIR: Reaches Settlement With Fokker Services
MESA AIR: Resolves Dispute With AAR Corp. on Cure Amounts
MIRANT CORP: Dist. Ct. Says Ga. Law Applies to Commerzbank Suit
MOMENTIVE PERFORMANCE: S&P Assigns 'B' Rating to $1 Bil. Loans

MONEY TREE: Posts $4.1 Million Net Loss in Dec. 25 Quarter
MONEYGRAM INT'L: BlackRock Discloses 5.76% Equity Stake
MORGANS HOTEL: Two Mezzanine Units Reach Forbearance Agreement
MPG TRUST: BlackRock Discloses 6.56% Equity Stake
NAVISTAR INT'L: BlackRock Discloses 7.97% Equity Stake

NORTEL NETWORKS: Ericsson Offers EU Remedies on $65MM Nortel Deal
NPS PHARMACEUTICALS: BlackRock Discloses 7.46% Equity Stake
OCTOBER TRUST: Case Summary & 2 Largest Unsecured Creditors
ONE SMART: Case Summary & 20 Largest Unsecured Creditors
ORGANICA BIOTECH: Three Firms Under Chapter 11

ORLEANS HOMEBUILDERS: Emerges From Ch 11 With $160MM in Financing
OTC HOLDINGS: Oriental Trading Emerges from Chapter 11
PACIFIC CAPITAL: Moody's Upgrades Long-Term Issuer Rating to 'B2'
PASTEURIZED EGGS: Inventor & Asset Buyer Debate Patent Claims
PHYSICIAN ONCOLOGY: Moody's Assigns 'B2' Corporate Family Rating

PLAYBOY ENTERPRISES: Moody's Assigns 'B2' Rating to $195 Mil. Loan
PLY GEM HOLDINGS: Expects $215MM to 222MM in Sales for Q4
POINT BLANK: Automatic Stay Applies to Qui Tam Action
POINT BLANK: Slows Disclosure, Seeks More Exclusivity
PRECISION ENGINEERED: Moody's Puts 'B1' Rating on $190 Mil. Notes

PRIME GROUP: Sells Biz to Five Mile; Inks Debt Refinancing Deal
PRIMUS TELECOMMUNICATIONS: Moody's Raises Corp. Family Rating
PROVIDENT FUNDING: S&P Assigns 'B' Rating to $200 Mil. Notes
QA3 FINANCIAL: Case Summary & 20 Largest Unsecured Creditors
QUEENS BALLPARK: Moody's Affirms 'Ba1' Rating, Gives Neg. Outlook

QUEPASA CORP: Files Copy of Securities Purchase Agreement
QUEPASA CORP: Incurs $6.65 Million Net Loss in Fiscal 2010
QUEPASA CORP: John Abbott Discloses 15.3% Equity Stake
QUEPASA CORP: Michael Matte Discloses 11.3% Equity Stake
RACE POINT: S&P Assigns 'BB' Rating to $275 Mil. Senior Loan

RADIO ONE: Moody's Corrects Press Release on Credit Loan Ratings
RANCHER ENERGY: Form 10-Q Filing for Dec. 31 Quarter Delayed
RCLC INC: Hearing on Plan Outline Set for March 10
REGAL ENTERTAINMENT: Fitch Puts 'B-/RR6' Rating on $100 Mil. Notes
REGAL ENTERTAINMENT: Moody's Puts 'B3' Rating on $100 Mil. Notes

REGAL ENTERTAINMENT: S&P Assigns 'BB-' Rating to New Loan
RLAND PROPERTIES: Sent 15 Shopping Centers to Chapter 11
RUGGED BEAR: Hires K&L Gates as Counsel Despite Conflict
RUGGED BEAR: Hires Gordon Brothers for Store Closures
SABERTOOTH LLC: Bankr. Ct. Can't Review Confessed Judgment

SANFORD ASSOCIATES: Case Summary & 5 Largest Unsecured Creditors
SEAHAWK DRILLING: Asks for Court's Nod to Obtain DIP Financing
SEAHAWK DRILLING: Taps Fulbright & Jaworski as Gen. Bankr. Counsel
SEAHAWK DRILLING: Wants to Sell Substantially All of Assets
SECUREALERT INC: Inks GPS Monitoring Contract in Mexico

SHALAN ENTERPRISES: Can Sell Las Vegas Property for $290,000
SMITHFIELD FOODS: Moody's Upgrades Corporate Family Rating to 'B1'
SOLAR ENERTECH: Reports $5 Million Net Income in Dec. 31 Quarter
SOUTH EDGE: Appeals Chapter 11 Ruling and Trustee Appointment
SPICEWOOD DEVELOPMENT: Essentially No Equity Left in Ch. 11 Estate

SPITZER INDUSTRIES: Moody's Assigns 'B2' Corporate Family Rating
SPITZER INDUSTRIES: S&P Assigns 'B' Corporate Credit Rating
SUNCAL COS: Seeks to Halt Exit Plans for Projects Backed by Lehman
SYNTERRA 3020: Can Use Inland Mortgage's Cash Until February 28
TANGLEWOOD FARMS: Court Denies Bid for Chapter 11 Trustee

TAYLOR BEAN: Troutman Seeks to Nix Ex-Chairman's Info Demand
TAYLOR BEAN: Again Selling Georgia Office Building
TBS INTERNATIONAL: Joseph Royce Discloses 36.7% Equity Stake
TC GLOBAL: December 26 Balance Sheet Upside-Down by $6.8 Million
TEAM FINANCE: Moody's Upgrades Corporate Family Rating to 'Ba3'

TOUSA INC: District Judge Voids Fraudulent Transfer Judgement
TRIBUNE CO: Bank Debt Trades at 26% Off in Secondary Market
TRIBUNE CO: Court Junks Aurelius, et al., Pleas for Documents
TRIBUNE CO: New York Tax Dept. Objects to Competing Plans
TRIBUNE CO: Parties File Plan & LBO-Related Discovery Requests

TRICO MARINE: Receives Court Nod of Noteholders Settlement
TRONOX INC: Emerges From Chapter 11
TWO DETROIT: Case Summary & 20 Largest Unsecured Creditors
ULTIMATE ACQUISITION: Employee Files Class Action Over Firings
ULTIMATE ACQUISITION: Wins Court's OK to Liquidate 46 Stores

UNION CARBIDE: Moody's Raises Rating on 6.79% Bonds From 'Ba2'
WALLACE TERRACE: Voluntary Chapter 11 Case Summary
WASHINGTON MUTUAL: Disclosure Hearing Set for March 21
WASHINGTON MUTUAL: Files Motion to Return Rights Offering Payments
WASHINGTON MUTUAL: Insurer Seeks Quick Win in $4.5M Coverage Row

WATERFORD GAMING: Supplemental Bonds Won't Affect Moody's Rating
WORD WORLD: Voluntary Chapter 11 Case Summary
W.R. GRACE: BNSF Seeks Reconsideration of Deal Objection Denial
W.R. GRACE: Wins Nod to Amend 2010 L/C Facility Agreement
W.R. GRACE: Wins Nod to Extend Credit Agreement With ART

YRC WORLDWIDE: Fitch Affirms 'CC' Issuer Default Rating

* Great American Group Introduces Quarterly Auctions

* Large Companies With Insolvent Balance Sheets