Beard Group Corporate Restructuring Review for June 2011

The Beard Group Corporate Restructuring Review for June 2011 is now available at http://bankrupt.com/restructuringreview/

Borders' Stores Liquidation to Begin July 22

FAIRLESS HILLS, Pa. -- Borders Group, Inc. failed to get a "going concern" bidder for its assets as of the July 17 bid deadline and thus, has decided to move forward with a liquidation of its remaining 399 stores.

 

The store closing sales is expected to begin on July 22, and will be handled by a group of liquidators which include Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC.

 

Details of the latest developments in the Borders case is available in BORDERS GROUP BANKRUPTCY NEWS, Issue No. 24, published by Bankruptcy Creditors' Service, Inc. 

 

The  8-page newsletter contains stories with these headlines:

[00323] BORDERS TO LIQUIDATE 399 STORES, CANCELS JULY 19 AUCTION
[00324] LIQUIDATION OF BORDERS STORES EXPECTED TO BEGIN JULY 22
[00325] DEBTORS' MOTION TO ASSUME AMENDED SOURCE INTERLINK PACT
[00326] DEBTORS' 1ST TO 4TH OMNIBUS OBJECTIONS TO CLAIMS
[00327] DEBTORS' APPLICATION TO EMPLOY DJM REALTY AS REALTOR
[00328] DEBTORS' APPLICATION TO EMPLOY MORTAGE CORP. AS BROKER
[00329] DJM REALTY TO DISPOSE OF 259 BORDERS REAL ESTATE LEASES


A copy of the newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).

How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS

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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 and submit the subscription form at https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP

 

Ambac Proposes Cost Allocation Pact Under Chapter 11 Plan

FAIRLESS HILLS, Pa. -- Ambac Financial Group, Inc. filed with a New York bankruptcy court a Chapter 11 Plan, which embodies a cost allocation agreement with its operating unit, Ambac Assurance Corporation.  

The allocation is for costs incurred by AFG in disputes with the Internal Revenue Service.  AFG proposes for more than 80% of the IRS-related costs will be allocated to AAC. 

The plan settlement contemplates a July 29, 2011 deadline, by which time the ACC and the Wisconsin insurance regulator must decide on whether to accept or reject the settlement terms.

Details on the July 6 Plan and the plan settlement are available in AMBAC BANKRUPTCY NEWS, Issue No. 23, published by Bankruptcy Creditors' Service, Inc.

The 8-page newsletter contains stories with these headlines:

[00196] AMBAC FINANCIAL FILES CHAPTER 11 PLAN OF REORGANIZATION

[00197] DEBTOR'S OBJECTION TO IRS'S $1.64 BILLION CLAIMS

[00198] DEBTOR'S 1ST TO 16TH OMNIBUS OBJECTIONS TO CLAIMS

[00199] DEBTOR'S 17TH OMNIBUS OBJECTION TO CLAIMS

[00200] DEBTOR'S APPLICATION TO EMPLOY LATHROP & CLARK AS COUNSEL

A copy of the newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

AMBAC BANKRUPTCY NEWS tracks the restructuring of Ambac Financial Group Inc.

How to Subscribe to AMBAC BANKRUPTCY NEWS

AMBAC 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 AMBAC BANKRUPTCY NEWS, please complete and submit the subscription form at https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=AMBAC

Creditors' Committee Counsel May Not Be "Disinterested" in Borders Case

FAIRLESS HILLS, Pa. -- Lowenstein Sandler PC, counsel to the unsecured creditors committee in the bankruptcy cases of Borders Group Inc. and its debtor affiliates, admits that it may not be a "disinterested person" in light of its representation of SB Capital Group LLC.  SBC is among the liquidators Borders is seeking to retain for the contemplated store closing sales in its cases.

Borders is moving on with its plan for a going concern sale.  The bookseller chain identified BB Brands LLC as the stalking horse bidder for its assets.  BB Brands's $450 million offer is the opening bid for a sale auction tentatively set for July 19.  The company is seeking court approval of bidding procedures to be implemented in the sale process.

Details on the $450 million stalking horse bid and the proposed back-up plan of a full chain liquidation is available on BORDERS GROUP BANKRUPTCY NEWS, Issue No. 21, published by Bankruptcy Creditors' Service, Inc.

The 16-page newsletter contains stories with these headlines:

[00297] BORDERS SELECTS BB BRANDS' $450-MIL. OFFER AS OPENING BID
[00298] BORDERS SEEKS APPROVAL OF BIDDING PROCEDURES FOR 363 SALE
[00299] DEBTORS' MOTION TO ASSUME AMENDED SOURCE INTERLINK PACT
[00300] DEBTORS' NOTICE TO REJECT SIMON PROPERTY LEASE PACT
[00301] DEBTORS' NOTICE OF DE MINIMIS ASSET SALES
[00302] COMMITTEE'S APPLICATION TO RETAIN LOWENSTEIN SANDLER
[00303] LANDLORDS' MOTIONS TO ALLOW SEC. 365(D)(3) CLAIMS
[00304] ROUTE 23 ASSOCIATES'S NOTICE ON EXPIRATION OF LEASE


A copy of the newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).

How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS

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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 and submit the subscription form at https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP

Ambac Claims Bar Date for Directors & Officers Moved to Aug. 1

FAIRLESS HILLS, Pa. -- Ambac Financial Group, Inc. directors and officers are given more time to file their claims through Aug. 1, 2011.

Ambac has also formally filed a motion with the bankruptcy court seeking approval of a settlement to settle several securities lawsuits for $27.1 million.

Details on the securities suit settlement and other stories are available at AMBAC BANKRUPTCY NEWS, Issue No. 22, published by Bankruptcy Creditors' Service, Inc.

The 13-page newsletter contains stories with these headlines:

[00188] AFG SEEKS APPROVAL OF $27.1-MIL. SECURITIES SETTLEMENT
[00189] AMBAC FINANCIAL'S D&O CLAIMS BAR DATE EXTENDED TO AUG. 1
[00190] DEBTOR'S OBJECTION TO NY FINANCE DEPT.'S $116-MIL. CLAIM
[00191] DEBTOR'S 1ST TO 16TH OMNIBUS OBJECTIONS TO CLAIMS
[00192] OCI TAPS R. PETERSON TO MANAGE AAC'S SEGREGATED ACCOUNT
[00193] BANKRUPTCY PROFESSIONALS FILE FEE APPLICATIONS
[00194] AFG NOTIFIES LATE FILING OF INCENTIVE PLAN ANNUAL REPORT
[00195] MONTHLY OPERATING REPORT -- Ended May 31, 2011


A copy of the newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

AMBAC BANKRUPTCY NEWS tracks the restructuring of Ambac Financial Group Inc.

How to Subscribe to AMBAC BANKRUPTCY NEWS

AMBAC 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 AMBAC BANKRUPTCY NEWS, please complete and submit the subscription form at https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=AMBAC

Borders To Start Aggressive Timetable to Sell Business

FAIRLESS HILLS, Pa. -- Borders Group, Inc. is ready to embark on an "aggressive timetable" to sell its business after Judge Martin Glenn granted approval for the company's entry into a second amendment of its $505 million bankruptcy financing facility.  The bookseller chain aims to complete the sale process by the end of next month.

 

Judge Glenn was reluctant to grant approval of a $1 million financing amendment fee. 

 

More stories on the Borders case are available at BORDERS GROUP BANKRUPTCY NEWS, Issue No. 20, published by Bankruptcy Creditors' Service, Inc. 

 

The 16-page newsletter contains stories with these headlines:

[00290] BORDERS WINS APPROVAL OF 2ND AMENDMENT TO $505MM DIP LOAN
[00291] COURT RELUCTANTLY APPROVES $1-MIL. DIP LOAN AMENDMENT FEE
[00292] BORDERS CAN START AGGRESSIVE TIMETABLE TO SELL BUSINESS
[00293] DEBTORS' MOTION TO SELL TORRANCE MORTGAGE LOAN FOR $6.6MM
[00294] DEBTORS' MOTION TO APPROVE HARRISPORT TERMINATION PACT
[00295] DEBTORS' APPLICATION TO EMPLOY MORTAGE CORP. AS BROKER
[00296] BANKRUPTCY PROFESSIONALS FILE FEE APPLICATIONS


A copy of the newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).

How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS

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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 and submit the subscription form at https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP

ABUSE SURVIVORS TO OPPOSE WILMINGTON DIOCESE'S CHAP. 11 PLAN

Thomas S. Neuberger, Esq., the counsel of the Unofficial
Committee of State Court Abuse Survivors, in a letter addressed
to the U.S. Bankruptcy Court for the District of Delaware, says
that after several weeks of unsuccessful efforts to resolve
issues with the Catholic Diocese of Wilmington Inc., he is
recommending to his clients that they vote against the Debtor's
Chapter 11 Plan of Reorganization.

For the full story, read Catholic Church Bankruptcy News, Issue No. 180.

Issue No. 180 of CATHOLIC CHURCH BANKRUPTCY NEWS contains stories with these headlines:

[02292] ABUSE SURVIVORS TO OPPOSE WILMINGTON'S CHAPTER 11 PLAN
[02293] WILMINGTON COMMITTEE SEEKS OK TO TAP RUTTER AS ARBITRATOR
[02294] WILMINGTON LAY PANEL'S APPLICATION TO HIRE P. HAMILTON
[02295] RULE 2019 STATEMENT -- Neuberger and Jacobs & Crumplar
[02296] WILMINGTON'S OPERATING REPORT -- Ending March 31, 2011
[02297] WILMINGTON'S OPERATING REPORT -- Ending April 30, 2011
[02298] MILWAUKEE'S MOTION TO FILE VICTIM LETTER UNDER SEAL
[02299] MILWAUKEE PANEL'S MOTION TO LIFT STAY TO TAKE DEPOSITIONS
[02300] MILWAUKEE'S MOTION TO SET BAR DATES FOR FILING CLAIMS
[02301] MILWAUKEE'S MOTION TO CONTINUE TO PROTECT ABUSE SURVIVORS
[02302] MILWAUKEE COMMITTEE'S MOTION FOR INFO ACCESS PROTOCOL
[02303] MILWAUKEE COMMITTEE'S APPLICATION TO RETAIN BMI
[02304] MILWAUKEE COMMITTEE'S APPLICATION TO RETAIN BERKELEY
[02305] MILWAUKEE PROFESSIONALS' FEE APPLICATIONS
[02306] MILWAUKEE'S OPERATING REPORT -- Ending May 31, 2011

A copy of the newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=CATHOLIC|CHURCH for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

How to Subscribe to CATHOLIC CHURCH BANKRUPTCY NEWS

CATHOLIC CHURCH 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 CATHOLIC CHURCH BANKRUPTCY NEWS, please complete and submit the subscription form at https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=CATHOLIC|CHURCH

Bankruptcy Creditors' Service, Inc. reports on latest events arising in the chapter 11 cases commenced by the Catholic Diocese of Wilmington Inc. and the Archdiocese of Milwaukee.

Company: Bankruptcy Creditors' Service, Inc.
Contact: Peter A. Chapman
Phone: (215) 945-7000
Email: peter[@]bankrupt.com

Extended Stay Trust To Get Examiner Docs, Sues Blackstone for $8BB

FAIRLESS HILLS, Pa. -- A bankruptcy examiner has agreed to turn over certain documents gathered during his investigation  into the Extended Stay Inc. bankruptcy, including Alvarez & Marsal documents, to the litigation trust created under the hotel chain's bankruptcy plan.

 

The Extended Stay litigation trust has also commenced several lawsuits against Blackstone Group LP and other parties connected to the 2007 buy-out of the hotel chain.  The trust is seeking to recover more than $8 billion for the company's creditors.

 

Details on the lawsuits and more stories on the Extended Stay bankruptcy case are available at EXTENDED STAY INC BANKRUPTCY NEWS, Issue No. 36, published by Bankruptcy Creditors' Service, Inc. 

 

The  7-page newsletter contains stories with these headlines:

[00342] EXTENDED STAY TRUST SUES BLACKSTONE FOR $8-BB OVER BUYOUT
[00343] EXTENDED STAY FILES 3RD POST-CONFIRMATION STATUS REPORT
[00344] ESI AFFILIATES' QUARTER OPERATING RPT -- Ended March 2010
[00345] ESI FILES DECLARATIONS ON FEBRUARY-MAY 2011 DISBURSEMENTS
[00346] EXTENDED STAY, ET AL., INK PACT FOR DOCUMENT TURNOVER
[00347] BANKRUPTCY APPEAL -- Starwood re Reimbursement Order
[00348] CLAIM WITHDRAWAL -- April 14, 2011


A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=EXTENDED|STAY|INC">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=EXTENDED|STAY|INC</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

EXTENDED STAY INC BANKRUPTCY NEWS tracks the restructuring of Extended Stay Inc.

How to Subscribe to EXTENDED STAY INC BANKRUPTCY NEWS

EXTENDED STAY INC 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 EXTENDED STAY INC BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=EXTENDED|STAY|INC">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=EXTENDED|STAY|INC</a>

 

Borders' Revenues Dips to $97-MM, Net Loss Down to $35-MM in May

FAIRLESS HILLS, Pa. -- Borders Group, Inc. released its monthly operating report listing decreased revenues and net losses for May 2011.  Revenues for the bookstore chain in May aggregate $97 million compared to $173 million in April.  Net income losses are also down to $35 million in May over $132 million in April.

 

The company has also negotiated with lenders a second amendment to its postpetition financing facility, which essentially allows the bookstore chain to conduct a going concern sale for its business.  Borders expects to name a bidder by July 1, and aims to close a sale by the end of July.

 

More stories on the Borders case are available at BORDERS GROUP BANKRUPTCY NEWS, Issue No. 19, published by Bankruptcy Creditors' Service, Inc. 

 

The 13-page newsletter contains stories with these headlines:

[00278] BORDERS INKS 2ND AMENDMENT TO $505MM DIP CREDIT AGREEMENT
[00279] BORDERS TO NAME BIDDER JULY 1, TO HOLD AUCTION JULY 19
[00280] BORDERS TO COMPLETE DUAL-TRACK SALE OF BIZ BY END OF JULY
[00281] BORDERS WITHDRAWS 51-STORE CLOSING SALES MOTION
[00282] NAJAFI & GORES VIE TO WRITE FUTURE OF BORDERS, SAYS WSJ
[00283] DEBTORS' MOTION TO ASSUME AND ASSIGN LEASES TO TJX
[00284] DEBTORS' APPLICATION TO EMPLOY DELOITTE CONSULTING
[00285] COMMITTEE'S APPLICATION TO RETAIN LOWENSTEIN SANDLER
[00286] LANDLORDS' MOTIONS TO ALLOW SEC. 365(D)(3) CLAIMS
[00287] STIPULATIONS EXTENDING TIME TO ASSUME OR REJECT LEASES
[00288] NEW KOBO E-READER TOUCH EDITION AVAILABLE AT BORDERS
[00289] DEBTORS' MONTHLY OPERATING REPORT -- Ended May 28, 2011


A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).

How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS

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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP</a>

 

Ambac Says IRS $1.6BB Tax Refund Claims Have No Merit

FAIRLESS HILLS, Pa. -- Ambac Financial Group, Inc. has filed a formal objection in the bankruptcy court, asserting that the $1.6 billion in aggregate claims filed by the Internal Revenue Service are duplicative and are improper.  The claims are for tax refunds Ambac received from 2008 to 2010.

The Company's detailed arguments on entitlement to the tax refunds and other Ambac stories, including the departure of some top executives from the Company, are available in AMBAC BANKRUPTCY NEWS, Issue No. 21, published by Bankruptcy Creditors' Service, Inc.

The 9-page newsletter contains stories with these headlines:

[00183] DAVID WALLIS RESIGNS AS AFG CEO, DIANA ADAMS TO TAKE OVER
[00184] DEBTOR'S OBJECTION TO IRS'S $1.64 BILLION CLAIMS
[00185] AFG AGREES TO LIFT STAY TO ALLOW $27.1-MIL. SETTLEMENT
[00186] DEBTOR'S 1ST TO 16TH OMNIBUS OBJECTIONS TO CLAIMS
[00187] OCI TAPS R. PETERSON TO MANAGE AAC'S SEGREGATED ACCOUNT


A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

AMBAC BANKRUPTCY NEWS tracks the restructuring of Ambac Financial Group Inc.

How to Subscribe to AMBAC BANKRUPTCY NEWS

AMBAC 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 AMBAC BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=AMBAC">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=AMBAC</a>

Beard Group Corporate Restructuring Review for May 2011

The Beard Group Corporate Restructuring Review for May 2011 is now
available at http://bankrupt.com/restructuringreview/

Borders Notifies Late Filing of April 2011 Quarter Report

FAIRLESS HILLS, Pa. -- Borders Group, Inc. has informed the U.S. Securities and Exchange Commission that it might be filing its Form 10-Q quarterly report for the period ended April 2011 late due to unavoidable circumstances.

 

The bookstore chain is also seeking bankruptcy court authority to conduct store closing sales on 51 of its stores.

 

Details on the Form 10-Q late filing, the proposed sale of the 51-store assets, and the reported bid of Najafi Cos. for Borders, among other things, are available at BORDERS GROUP BANKRUPTCY NEWS, Issue No. 17, published by Bankruptcy Creditors' Service, Inc.

 

The 14-page newsletter contains stories with these headlines:

[00257] BORDERS SEEKS TO CONDUCT STORE CLOSING SALES AT 51 STORES
[00258] BORDERS ALSO IN SALE TALKS WITH NAJAFI COS., SAYS WSJ
[00259] DEBTORS' MOTION TO REJECT SEATTLE'S BEST LICENSING PACT
[00260] DEBTORS' APPLICATION TO EMPLOY KASOWITZ BENSON AS COUNSEL
[00261] DEBTORS' APPLICATION TO EMPLOY DELOITTE CONSULTING
[00262] LANDLORDS' MOTIONS TO ALLOW SEC. 365(D)(3) CLAIMS
[00263] STIPULATIONS EXTENDING TIME TO ASSUME OR REJECT LEASES
[00264] JOHN GANNON'S LETTER SEEKING SUMMARY AMOUNT
[00265] BORDERS NOTIFIES LATE FILING OF APRIL 2011 QUARTER REPORT
[00266] CLOUTIER RESIGNS AS BORDERS CHIEF MERCHANDISING OFFICER
[00267] BORDERS CONSIDERS HEADQUARTERS MOVE TO VAN BUREN TOWNSHIP


A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).

How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS

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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP</a>

Ambac Reports $25-Mil. Net Profit for April

FAIRLESS HILLS, Pa. -- Ambac Financial Group, Inc. listed approximately $25 million in net profits for the month of April.

 

Other Ambac stories, including status on the rehabilitation plan of Ambac Assurance Corporation, are available in AMBAC BANKRUPTCY NEWS, Issue No. 20, published by Bankruptcy Creditors' Service, Inc.

 

The 7-page newsletter contains stories with these headlines:

[00180] REHABILITATOR FILES STATUS REPORT ON AAC'S REHAB PLAN
[00181] AAC BARRED FROM MAKING INTEREST PAYMENTS ON SURPLUS NOTES
[00182] MONTHLY OPERATING REPORT -- Ended April 30, 2011


A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

AMBAC BANKRUPTCY NEWS tracks the restructuring of Ambac Financial Group Inc.

How to Subscribe to AMBAC BANKRUPTCY NEWS

AMBAC 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 AMBAC BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=AMBAC">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=AMBAC</a>

 

 

Court Orders Disbandment of Delphi Retirees' Committee

FAIRLESS HILLS, Pa. -- Judge Robert Drain has ordered the disbandment of the retirees' committee in Delphi.

 

Other Delphi stories, including the $100 million initial public offering registered by the company with the U.S. Securities and Exchange Commission, the $1 billion in senior notes issued by Delphi Corp., and the more than $50 million in amounts the company paid to its top executives in 2010 are available in DELPHI BANKRUPTCY NEWS, Issue No. 207, published by Bankruptcy Creditors' Service, Inc.

 

The 27-page newsletter contains stories with these headlines:

[03023] DELPHI AUTOMOTIVE FILES $100-MIL. INITIAL PUBLIC OFFERING
[03024] DELPHI AUTOMOTIVE PAID $51-MIL. TO 7 TOP EXECS IN 2010
[03025] DELPHI CORPORATION ISSUED $1-BIL. IN SENIOR NOTES
[03026] DELPHI AUTOMOTIVE BUYS BACK GM & PBGC STAKE FOR $4.39-BB
[03027] DELPHI AND RETIREES STIPULATE TO INITIATE ACTION VS. PBGC
[03028] COURT ORDERS DISBANDMENT OF RETIREES' COMMITTEE
[03029] RETIREES COMM.'S MOTION TO DESIGNATE DSRA VEBA BENEFITS
[03030] DEBTORS' 3RD OMNIBUS OBJECTION TO CLAIMS
[03031] DEBTORS' 43RD OMNIBUS OBJECTION TO CLAIMS
[03032] DEBTORS' 44TH OMNIBUS OBJECTION TO CLAIMS
[03033] DEBTORS' 47TH OMNIBUS OBJECTION TO CLAIMS
[03034] DELPHI OPENS WIRING HARNESS ASSEMBLY PLANT IN ROMANIA
[03035] DELPHI BRINGS CONVERTIBLE PC DIAGNOSTIC TOOL TO ITALY
[03036] DELPHI PROVIDES INFOTAINMENT TO DRIVERS THRU MYFI
[03037] DELPHI OFFERS ENGINEERING EXPERTISE IN EXPO EUROPE
[03038] DELPHI PRESENTED SIMULATION METHOD REPORT AT VTMS 2011
[03039] S&P ASSIGNS 'BB' CORP. CREDIT RATING TO DELPHI AUTOMOTIVE
[03040] DELPHI WORKS TO CLOSE SALE OF BAZETTA, OHIO PLANTS


A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=DELPHI">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=DELPHI</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

DELPHI BANKRUPTCY NEWS tracks the restructuring of Delphi Corp.

How to Subscribe to DELPHI BANKRUPTCY NEWS

DELPHI 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 DELPHI BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=DELPHI">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=DELPHI</a>

 

BORDERS Obtains Exclusivity thru October to File Bankruptcy Plan

FAIRLESS HILLS, Pa. -- Borders Group, Inc. and its debtor affiliates have obtained a court order that extends through October their exclusive right to file a bankruptcy plan.  The Company, however, has said it expects to have that plan ready by the end of June.

Other Borders stories, including Judge's Glenn reasoning for the approval of the company's exclusivity request and the reported sale talks between Gores Group and the bookstore chain, are available in BORDERS GROUP BANKRUPTCY NEWS, Issue No. 16, published by Bankruptcy Creditors' Service, Inc.

The 18-page newsletter contains stories with these headlines:

[00247] COURT GIVES BORDERS MORE TIME TO FILE CHAPTER 11 PLAN
[00248] BORDERS HOPES TO FILE PLAN BY END OF JUNE, SAYS LAWYER
[00249] BORDERS IN TALKS WITH GORES GROUP OVER SALE OF 200 STORES
[00250] DEBTORS' MOTION TO REJECT SEATTLE'S BEST LICENSING PACT
[00251] DEBTORS' MOTION TO REJECT 100 EXECUTORY CONTRACTS
[00252] DEBTORS' MOTION TO APPROVE BOFA PACT ON COMPENSATION PLAN
[00253] DEBTORS' MOTION TO ASSUME AND ASSIGN LEASES TO TJX
[00254] STIPULATIONS EXTENDING TIME TO ASSUME OR REJECT LEASES
[00255] RULE 2019 STATEMENT -- Davis Wright Tremaine LLP
[00256] BORDERS OFFERS CUSTOMERS ACCESS TO KOBO E-BOOK STORE


A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).

How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS

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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP</a>

Ambac Financial to File Bankruptcy Plan in June

FAIRLESS HILLS, Pa. -- Ambac Financial Group, Inc. is set to file its own Chapter 11 plan in court in June, according to the company's counsel.  This move is amidst the company's  dissatisfaction with an offer of the Wisconsin insurance regulator who currently oversees the rehabilitation of the company's operating unit, Ambac Assurance Corporation.

 

This story, and other developments, in the Ambac Financial case is available in AMBAC BANKRUPTCY NEWS, Issue No. 19,  published by Bankruptcy Creditors' Service, Inc.  The  7-page newsletter contains stories with these headlines:

[00171] AFG FINDS OCI'S TERM SHEET DISAPPOINTING, SAYS LAWYER
[00172] AFG TO FILE CHAPTER 11 REORGANIZATION PLAN BY JUNE
[00173] DEBTOR'S OBJECTION TO NY FINANCE DEPT.'S $116-MIL. CLAIM
[00174] AFG AGREES TO LIFT STAY TO ALLOW $27.1-MIL. SETTLEMENT
[00175] DEBTOR'S 2ND MOTION TO EXTEND ACTION REMOVAL PERIOD
[00176] DEBTOR'S MOTION TO ASSUME AND ASSIGN KINGSTON LEASE
[00177] DEBTOR'S MOTION TO EMPLOY ORDINARY COURSE PROFESSIONALS
[00178] BANKRUPTCY PROFESSIONALS FILE FEE APPLICATIONS
[00179] AFG RECEIVES SUBPOENA ON MORTGAGE SECURITIZATION PROBE


A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=AMBAC</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

AMBAC BANKRUPTCY NEWS tracks the restructuring of Ambac Financial Group Inc.

How to Subscribe to AMBAC BANKRUPTCY NEWS

AMBAC 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 AMBAC BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=AMBAC">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=AMBAC</a>

 

Beard Group Corporate Restructuring Review for April 2011

The Beard Group Corporate Restructuring Review for April 2011 is now available at http://bankrupt.com/restructuringreview/

Borders Seeks Exclusive Right to File Plan Til October

FAIRLESS HILLS, Pa. -- Borders Group, Inc. seeks court authority for an extension of its exclusive right to file a Chapter 11 plan through October.

 

Other stories on the Borders bankruptcy case, including the company's latest monthly operating report for April and its decision to terminate agreement with Seattle's Best, is available at BORDERS GROUP BANKRUPTCY NEWS, Issue No. 15, published by Bankruptcy Creditors' Service, Inc.

 

The 15-page newsletter contains stories with these headlines:

[00237] DEBTORS' 1ST MOTION TO EXTEND EXCLUSIVE PERIODS
[00238] DEBTORS' MOTION TO REJECT SEATTLE'S BEST LICENSING PACT
[00239] DEBTORS' MOTION TO REJECT 100 EXECUTORY CONTRACTS
[00240] DEBTORS' MOTION TO EMPLOY ORDINARY COURSE PROFESSIONALS
[00241] ENTITIES FILE NOTICES OF SUBSTANTIAL STOCK OWNERSHIP
[00242] STIPULATION FOR REPLACEMENT LOC WITH TRAVELERS INDEMNITY
[00243] STIPULATIONS EXTENDING TIME TO ASSUME OR REJECT LEASES
[00244] PERSHING SQUARE DUMPS 1.06MM SHARES OF BORDERS STOCK
[00245] CLAIM TRANSFERS -- April 2011
[00246] DEBTORS' MONTHLY OPERATING REPORT -- Ended Apr. 30, 2011


A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).

How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS

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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP</a>

Free Access to 16 Years of TCR News

      T R O U B L E D   C O M P A N Y   R E P O R T E R


             Free Access to 16 Years of TCR News

All subscribers to the Troubled Company Reporter have unrestricted
access to our 16-year news archive at http://TCRResources.bankrupt.com/
where news is indexed by company name.  There is no charge for this
service; it's included with your TCR subscription.  Login to our
database system using the e-mail address to which your copy of the
TCR is delivered each day.

          Beard Group Corporate Restructuring Review

Beard Group is now distributing a free monthly audio presentation at
http://bankrupt.com/restructuringreview/ in which TCR editors discuss
recent large chapter 11 filings, chapter 11 filings they see on the
horizon, billion-dollar litigation disputes, delayed chapter 11 exits,
and new issues of publicly traded securities in high-profile cases.

                           *********

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 by individuals and business entities estimating
assets and debts or disclosing assets and liabilities at less than
$1,000,000.  The list includes links to freely downloadable images
of the small-dollar business-related petitions in Acrobat PDF
format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/ to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA.  Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $775 for 6 months delivered via e-
mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Christopher
Beard at 240/629-3300.

Borders Reports Losses: $299MM in 2010, $54MM in Feb.-Mar. 2011

FAIRLESS HILLS, Pa. -- Borders Group Inc. has finally released its annual report for 2010 and operating reports for the first two months in 2011.  Net losses for 2010 were listed at $299 million.  Losses for the February to March 2011 period aggregate approximately $54 million.

 

After a few hitches, Borders has also been given the go signal to implement its employee bonus plans, on modified terms.  Eligible employees under the plan can receive up to a maximum of $7 million. 

 

Details on Borders' bonus plans and financial reports, including reports that the Company might be seeking additional financing soon, are available in BORDERS GROUP BANKRUPTCY NEWS, Issue No. 13, published by Bankruptcy Creditors' Service, Inc.

 

The 33-page newsletter contains stories with these headlines:

[00202] COURT APPROVES BORDERS MODIFIED BONUS PLAN FOR EXECUTIVES
[00203] BORDERS TO HAND $7MM IN BONUSES UNDER MODIFIED PLANS
[00204] BORDERS TO SEEK $50MM IN ADD'L. FINANCING, SOURCES SAY
[00205] DEBTORS' 1ST MOTION TO EXTEND ACTION REMOVAL PERIOD
[00206] DEBTORS' MOTION TO ASSUME & ASSIGN STORE LEASES TO AGREE
[00207] DEBTORS' MOTION TO APPROVE OCW LEASE TERMINATION PACT
[00208] DEBTORS' MOTION TO APPROVE TIAA LEASE TERMINATION PACT
[00209] DEBTORS' MOTION TO SET DE MINIMIS ASSET SALE PROCEDURES
[00210] DEBTORS' NOTICES TO REJECT LEASES WITH EMPRESAS, ET AL.
[00211] DEBTORS' MOTION TO EMPLOY ORDINARY COURSE PROFESSIONALS
[00212] PALLET COMPANIES' MOTION TO ALLOW $8,270 ADMIN. CLAIM
[00213] STIPULATIONS EXTENDING TIME TO ASSUME OR REJECT LEASES
[00214] AGREE REALTY SELLS BORDERS-LEASED PROPERTIES FOR $6.5MM
[00215] COURIER CORP. COVERS BORDERS BAD DEBT OF $750,000
[00216] BORDERS GROUP RELEASES 2010 ANNUAL REPORT
[00217] DEBTORS' MONTHLY OPERATING REPORT -- Ended Feb. 26, 2011
[00218] DEBTORS' MONTHLY OPERATING REPORT -- Ended Mar. 26, 2011


A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).

How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS

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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP</a>

 

Company: Bankruptcy Creditors' Service, Inc. 

Contact: Peter A. Chapman 

Phone: (215) 945-7000 

Email: peter[@]bankrupt.com

 

GGP Made $837-Mil. Disbursements for Quarter Ended March 31

FAIRLESS HILLS, Pa. -- GGP, Inc., made disbursements totaling more than $837 million during the quarter ended March 31, 2011, the company said in a post-confirmation report it filed with the bankruptcy court.

More news on the General Growth case, including the Company's financial results for the quarter ended March 31, 2011, is available in GENERAL GROWTH Bankruptcy News, Issue No. 85 published by Bankruptcy Creditors' Service, Inc.

The 14-page newsletter contains stories with these headlines:

[01338] GGP FILES 3RD POST-CONFIRMATION STATUS REPORT

[01339] DEBTORS & U.S. TRUSTEE OPPOSE BROWN RUDNICK'S $3.3MM FEES

[01340] TABERNA'S MOTION TO COMPEL PAYMENT OF FEES FOR $980,134

[01341] DEBTORS' 42ND OMNIBUS OBJECTION TO CLAIMS

[01342] DEBTORS' 80TH TO 84TH OMNIBUS OBJECTIONS TO CLAIMS

[01343] COURT SUPPLEMENTS VARIOUS OMNIBUS CLAIM OBJECTION ORDERS

[01344] BANKRUPTCY PROFESSIONALS FILE FEE APPLICATIONS

[01345] ALLEN MODEL DISCLOSES OWNERSHIP OF THHC COMMON STOCK

[01346] NEW GGP RELEASES FIRST QUARTER 2011 RESULTS

A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=GENERAL|GROWTH">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=GENERAL|GROWTH</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

GENERAL GROWTH BANKRUPTCY NEWS tracks the restructuring of General Growth Properties Inc.

How to Subscribe to GENERAL GROWTH BANKRUPTCY NEWS

GENERAL GROWTH 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 GENERAL GROWTH BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=GENERAL|GROWTH">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=GENERAL|GROWTH</a>

Company: Bankruptcy Creditors' Service, Inc. 

Contact: Peter A. Chapman 

Phone: (215) 945-7000 

Email: peter[@]bankrupt.com

WR Grace & EPA Ink Deal to Clean-up Dekalb County Site

FAIRLESS HILLS, Pa. -- W.R. Grace & Co. and the U.S. Environmental Protection Agency ask approval from the bankruptcy court of an agreement for the clean-up of the Zonolite Road Site in Atlanta, Dekalb County, Georgia.

More news on the Grace case, including the Company's financial results for the quarter ended March 31, 2011, is available in W.R. GRACE Bankruptcy News, Issue No. 230 published by Bankruptcy Creditors' Service, Inc.

The 20-page newsletter contains stories with these headlines:

[02469] GRACE REPORTS FIRST QUARTER 2011 FINANCIAL RESULTS

[02470] DEBTORS' MOTION TO APPROVE 2011 LONG-TERM INCENTIVE PLAN

[02471] DEBTORS' MOTION TO APPROVE DEKALB COUNTY CONSENT ORDER

[02472] ANDERSON MEMORIAL'S MOTION FOR CLASS CERTIFICATION

[02473] CANADIAN ZAI COUNSEL'S MOTION TO HIRE COLLECTIVA

[02474] DEBTORS OBJECT TO ILLINOIS REVENUE DEPT.'S $3.4MM CLAIM

[02475] W.R. GRACE REPORTS 1ST QUARTER 2011 CLAIMS SETTLEMENTS

[02476] W.R. GRACE REPORTS 1STQ 2011 DE MINIMIS ASSET SALES

[02477] YORK, ET AL.'S NOTICES OF INTENT TO ACQUIRE EQUITY SHARES

[02478] CREDITORS FILE NOTICES OF CHANGE OF ADDRESS

[02479] BANKRUPTCY APPEALS -- Committee, et al. re Jan. 31 Order

[02480] GRACE'S 2010 ANNUAL REPORT AND FORM 10-K NOW AVAILABLE

[02481] GRACE CELEBRATES 2011 EARTH DAY WORLDWIDE

A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=W.R.|GRACE">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=W.R.|GRACE</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

W.R. GRACE BANKRUPTCY NEWS tracks the restructuring of W.R. Grace & Co and WR Grace & Co-Conn.

How to Subscribe to W.R. GRACE BANKRUPTCY NEWS

W.R. GRACE 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 W.R. GRACE BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=W.R.|GRACE">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=W.R.|GRACE</a>

Company: Bankruptcy Creditors' Service, Inc. 

Contact: Peter A. Chapman 

Phone: (215) 945-7000 

Email: peter[@]bankrupt.com

Court to Conclude Tribune Plan Trial in June

FAIRLESS HILLS, Pa. -- Judge Kevin J. Carey of the U.S. Bankruptcy Court in Delaware will conclude the plan confirmation trial in Tribune Co.'s bankruptcy cases in June when post-briefing and argument will occur.

More news on the Tribune case, including the Court's approval of Tribune's request to resolicit votes on its plan of reorganization, is available in TRIBUNE Bankruptcy News, Issue No. 75 published by Bankruptcy Creditors' Service, Inc.

The 12-page newsletter contains stories with these headlines:

[01261] TRIBUNE CO. TO RESOLICIT VOTES ON SECOND AMENDED PLAN

[01262] JUDGE CAREY TO RULE ON RESOLICITATION OF PLANS ON MAY 17

[01263] SAM ZELL OBJECTS TO CH. 11 PLANS TO REORGANIZE TRIBUNE

[01264] DEBTORS' MOTION TO AMEND VOTING RESULTS TO DCL PLAN

[01265] SAM ZELL'S MOTION FOR CLARIFICATION ON RULE 9011 MOTION

[01266] COMMITTEE'S MOTION TO AMEND "TERMINATION EVENT"

[01267] AURELIUS ET AL.'s MOTION TO SUE 2007 LBO SHAREHOLDERS

[01268] DEBTORS' MOTION TO ESTABLISH CURE AMOUNTS PROCEDURES

[01269] FORMER OFFICERS' MOTIONS TO DEEM CLAIMS TIMELY FILED

[01270] COMMITTEE'S APPLICATION TO RETAIN SVG AS SPECIAL COUNSEL

A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=TRIBUNE">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=TRIBUNE</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

TRIBUNE BANKRUPTCY NEWS tracks the restructuring of Tribune Co.

How to Subscribe to TRIBUNE BANKRUPTCY NEWS

TRIBUNE 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 TRIBUNE BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=TRIBUNE">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=TRIBUNE</a>

Company: Bankruptcy Creditors' Service, Inc. 

Contact: Peter A. Chapman 

Phone: (215) 945-7000 

Email: peter[@]bankrupt.com

Reorganized Mesa Air Reports $1.1-Bil. in Assets as of March 31

FAIRLESS HILLS, Pa. -- Mesa Air Inc. and its reorganized debtor affiliates reported more than $1.1 billion in assets and more than $2.0 billion in debts as of March 31, 2011.

More news on the Mesa case, including the Company's entry into post-effective date settlements with additional counterparties, are in MESA AIR Bankruptcy News, Issue No. 40 published by Bankruptcy Creditors' Service, Inc.

The 14-page newsletter contains stories with these headlines:

[00434] DEBTORS ENTER INTO POST-EFFECTIVE DATE SETTLEMENTS

[00435] DEBTORS' MOTION TO EMPLOY ORDINARY COURSE PROFESSIONALS

[00436] STIPULATION EXTENDING TIME TO DECIDE ON ELFC ENGINE LEASE

[00437] CREDITORS WITHDRAW CLAIMS -- April 2011

[00438] MESA PROFESSIONALS' FEE APPLICATIONS

[00439] MESA AIR POST-CONFIRMATION REPORT -- Jan. to March 2011

A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=MESA|AIR">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=MESA|AIR</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

MESA AIR BANKRUPTCY NEWS tracks the restructuring of Mesa Air Group Inc.

How to Subscribe to MESA AIR BANKRUPTCY NEWS

MESA AIR 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 MESA AIR BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=MESA|AIR">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=MESA|AIR</a>

Company: Bankruptcy Creditors' Service, Inc. 

Contact: Peter A. Chapman 

Phone: (215) 945-7000 

Email: peter[@]bankrupt.com

Rival Group in Lehman Case Holds $19BB in Claims

FAIRLESS HILLS, Pa. -- An ad hoc group of creditors of Lehman Brothers Holdings, Inc., led by Paulson & Co. disclosed in court papers that it holds claims aggregating more than $19.6 billion on the Debtors.

More news on the Lehman Brothers case, including the filing of a third competing plan by a group of creditors led by Goldman Sachs, is available in LEHMAN BROTHERS Bankruptcy News, Issue No. 77 published by Bankruptcy Creditors' Service, Inc.

The 22-page newsletter contains stories with these headlines:

[03040] GOLDMAN SACHS, ET AL. OFFER RIVAL RESTRUCTURING PLAN

[03041] DEBTORS SEEK TO IMPLEMENT CONFIRMATION DISCOVERY PROCESS

[03042] DEBTORS' MOTION FOR COMPLIANCE WITH BANKRUPTCY RULE 2019

[03043] RULE 2019 STATEMENT -- White & Case LLP

[03044] DEBTORS' MOTION TO INVEST IN NEW YORK PROPERTIES

[03045] DEBTORS' MOTION TO APPROVE SETTLEMENT WITH AEGIS MORTGAGE

[03046] LCPI'S MOTION TO ALLOW LEHMAN ALI TO OKAY INNKEEPERS DEAL

[03047] LCPI'S MOTION TO PURCHASE NOTES ISSUED BY PINE CCS

[03048] DEBTORS' MOTION TO APPROVE TRADE CONFIRMATIONS DECISIONS

[03049] DEBTORS' MOTION TO SET PROTOCOLS TO TERMINATE COMMITMENTS

[03050] DEBTORS' MOTION TO SETTLE ORDINARY COURSE CLAIMS

[03051] DEBTORS' MOTION TO SET DE MINIMIS ASSETS SALE PROCEDURES

[03052] DEBTORS' MOTION TO ISSUE SUBPOENAS FOR DEPOSITION

[03053] DEBTORS' MOTION TO EMPLOY ORDINARY COURSE PROFESSIONALS

[03054] RETAINED PROFESSIONALS' INTERIM FEE APPLICATIONS

[03055] FEE COMMITTEE SEEKS CHANGES IN FEE REVIEW PROTOCOL

[03056] LBI TRUSTEE INTERIM REPORT -- Oct. 2010 to April 2011

[03057] LBI TRUSTEE'S MOTION TO EXTEND TIME TO REMOVE ACTIONS

[03058] LBI TRUSTEE'S MOTION FOR DE MINIMIS ASSET SALE PROTOCOL

[03059] STIPULATIONS CLOSING TRANSACTIONS BETWEEN LBI & BANKS

[03060] STIPULATIONS REQUIRING THE RETURN OF MISDIRECTED TRANSFER

[03061] DEBTORS' OMNIBUS OBJECTIONS TO CLAIMS

[03062] CLAIMS WITHDRAWAL -- April 14, 2011

[03063] RULE 2019 STATEMENT -- Cleary Gottlieb

[03064] ADVERSARY PROCEEDING -- LBHI vs. JPMorgan Chase Bank

[03065] LBHI DELAYS FEB. 2011 QUARTER RESULTS FILING ON FORM 10-Q

[03066] GALLEON OFFSHORE UNIT SELLS $146.7-MIL. CLAIM ON LEHMAN

[03067] FDIC SAYS LEHMAN RESOLUTION ORDERLY UNDER DODD-FRANK ACT

[03068] HKMA REPORTS PROGRESS OF PROBE ON LEHMAN-RELATED CASES

[03069] LBI TRUSTEE, JPMORGAN INK DEAL TO RETURN CUSTOMER ASSETS

A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=LEHMAN|BROTHERS">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=LEHMAN|BROTHERS</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

LEHMAN BROTHERS BANKRUPTCY NEWS tracks the restructuring of Lehman Brothers Holdings Inc.

How to Subscribe to LEHMAN BROTHERS BANKRUPTCY NEWS

LEHMAN BROTHERS 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 LEHMAN BROTHERS BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=LEHMAN|BROTHERS">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=LEHMAN|BROTHERS</a>

Company: Bankruptcy Creditors' Service, Inc. 

Contact: Peter A. Chapman 

Phone: (215) 945-7000 

Email: peter[@]bankrupt.com

Court Sets SCI Units' Plan Confirmation Hearing to May 25

FAIRLESS HILLS, Pa. -- A Nevada bankruptcy court will convene a hearing on May 25 to consider confirmation of the prepackaged plan and approval of the accompanying disclosure statement of the Station Casinos affiliates who filed for bankruptcy on April 12.

More news on the Station Casinos case, including the new debtors' requests to hire Kirkland & Ellis as counsel and Jones Vargas as special counsel, are in STATION CASINOS Bankruptcy News, Issue No. 41 published by Bankruptcy Creditors' Service, Inc.

The  7-page newsletter contains stories with these headlines:

[00443] COURT SETS APRIL 12 DEBTORS' JOINT PLAN HEARING TO MAY 25

[00444] APRIL 12 DEBTORS' MOTION TO JOINTLY ADMINISTER CASES

[00445] APRIL 12 DEBTORS' APPLICATION TO EMPLOY K&E AS COUNSEL

[00446] DEBTORS' APPLICATION TO EMPLOY JONES VARGAS AS COUNSEL

[00447] RETAINED PROFESSIONALS FILE MONTHLY FEE STATEMENTS

A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=STATION|CASINOS">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=STATION|CASINOS</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

STATION CASINOS BANKRUPTCY NEWS tracks the restructuring of Station Casinos Inc.

How to Subscribe to STATION CASINOS BANKRUPTCY NEWS

STATION CASINOS 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 STATION CASINOS BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=STATION|CASINOS">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=STATION|CASINOS</a>

Company: Bankruptcy Creditors' Service, Inc. 

Contact: Peter A. Chapman 

Phone: (215) 945-7000 

Email: peter[@]bankrupt.com

Borders Notifies Late Filing of 2010 Annual Report

FAIRLESS HILLS, Pa. -- Borders Group Inc. says the filing of its annual report on Form 10-K will be delayed.

 

A bankruptcy judge has also directed Borders to amend its bonus plan to reflect proposed incentives in a scenario where a sale or restructuring of the company translates to a recovery of less than $73 million.

 

More news on Borders, including the Company's recent reduction of proposed key employee incentives to $6.6 million, is available at BORDERS GROUP BANKRUPTCY NEWS, Issue No. 12, published by Bankruptcy Creditors' Service, Inc.

 

The 12-page newsletter contains stories with these headlines:

[00193] JUDGE GLENN TELLS BORDERS TO AMEND BONUS PLAN FOR EXECS
[00194] BORDERS TO WEIGH IN SALE OR RESTRUCTURING BY AUGUST 15
[00195] DEBTORS' MOTION TO MODIFY LEASE TERMS WITH LANDLORDS
[00196] DEBTORS' NOTICES TO REJECT LEASES WITH DETRICK, ET AL.
[00197] DEBTORS' MOTION TO EMPLOY ORDINARY COURSE PROFESSIONALS
[00198] MIQUEL-RIUS'S LETTER CLARIFYING CORRECT ENTITY
[00199] VENDORS FILE NOTICES OF RECLAMATION DEMAND
[00200] BORDERS GROUP, INC.'S STATEMENT OF FINANCIAL AFFAIRS
[00201] BORDERS NOTIFIES LATE FILING OF ANNUAL REPORT


A copy of today's newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP for $45.  Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).

How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS

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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 and submit the subscription form at https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP

 

Company: Bankruptcy Creditors' Service, Inc. 

Contact: Peter A. Chapman 

Phone: (215) 945-7000 

Email: peter[@]bankrupt.com

 

GGP Have Resolved Claims Totaling $126-Bil.

FAIRLESS HILLS, Pa. -- General Growth Properties, Inc., in its third post-confirmation status report, said it has resolved and settled nearly 8,600 proofs of claim and scheduled claims collectively asserting a total of $126 billion.

More news on the General Growth case, including the reorganized company's most recent refinancing of its shopping malls representing $1.7 billion of new mortgages, are available in GENERAL GROWTH Bankruptcy News, Issue No. 84 published by Bankruptcy Creditors' Service, Inc.

The 18-page newsletter contains stories with these headlines:

[01323] NEW GGP COMPLETES $1.7 BILLION REFINANCING OF SEVEN MALLS

[01324] NEW GGP INCREASES CREDIT FACILITY TO $750 MILLION

[01325] GGP FILES 3RD POST-CONFIRMATION STATUS REPORT

[01326] DEBTORS OBJECT TO WILMINGTON TRUST'S REQUEST FOR FEES

[01327] DEBTORS' MOTION TO DEEM CURE OBJECTIONS AS RESOLVED

[01328] DEBTORS' 42ND OMNIBUS OBJECTION TO CLAIMS

[01329] DEBTORS' 66TH TO 70TH OMNIBUS OBJECTIONS TO CLAIMS

[01330] DEBTORS' 76TH TO 79TH OMNIBUS OBJECTIONS TO CLAIMS

[01331] DEBTORS' 80TH TO 84TH OMNIBUS OBJECTIONS TO CLAIMS

[01332] CLAIM WITHDRAWALS -- December 2010 to April 2011

[01333] R.S. SELLERS ACQUIRES 5,000 SHARES OF THHC COMMON STOCK

[01334] ACKMAN HOLDS SHORT POSITION ON SIMON TO HEDGE GGP STAKE

[01335] H&M MAY OPEN STORE AT GGP-OWNED PARK PLACE MALL

[01336] FITCH DOWNGRADES NINE CLASSES OF BACM 2006-3

[01337] HOWARD HUGHES RELEASES 4Q AND FY 2010 FINANCIAL RESULTS

A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=GENERAL|GROWTH">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=GENERAL|GROWTH</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.

GENERAL GROWTH BANKRUPTCY NEWS tracks the restructuring of General Growth Properties Inc.

How to Subscribe to GENERAL GROWTH BANKRUPTCY NEWS

GENERAL GROWTH 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 Debtors' cases.  The subscription rate is $45 per issue.  Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax.  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 GENERAL GROWTH BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=GENERAL|GROWTH">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=GENERAL|GROWTH</a>

Company: Bankruptcy Creditors' Service, Inc. 

Contact: Peter A. Chapman 

Phone: (215) 945-7000 

Email: peter[@]bankrupt.com