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Ahead In Bankruptcy17-Feb

Augusta, Ga.: Morris Publishingconfirmation hearing

17-FebWilmington: Ames Taping sale hearing

17-FebWilmington: CCS Medical sale hearing

17-FebWilmington: Parking Co. of America Airports final DIP hearing

17-FebWilmington: Parking Co. of America Airports bid ruleshearing

17-FebWilmington: Proliance Dutchsubsidiary auction

18-FebFort Lauderdale, Fla.:Protective Products auction

18-FebHouston: Cross Canyon Energyfinal cash collateral hearing

18-FebManhattan: Arena Media bid rules hearing

Wednesday, February 17, 2010

Ski-Resort Developer East West Files For Chapter 11 ProtectionBy Kristina Doss

East West Resort Development V LP, which develops ski and golf resorts inLake Tahoe, Calif., filed for bankruptcy protection on Tuesday.

East West Resort said in court papers that it decided to make the move after itdefaulted on its financial obligations amid “the chaos in the real estate andfinance markets” and a slowdown in consumer spending.

According to the company, it engaged in “extensive” talks with key stakeholdersbefore entering Chapter 11 and was able to negotiate a term sheet that will serve asthe basis for a reorganization plan and its “prompt emergence from bankruptcy.”

East West Resort said it has approximately $256 million in assets. The companyalso disclosed that it has $61 million in debt, which does not include $189.4million in “contingent guarantee liabilities” and bond debt.

East West Resort is a limited partnership between Crescent Resort DevelopmentInc. and developer East West Partners Inc., which are not in bankruptcy.

Through its subsidiaries, East West Resort has co-developed four residentialcommunities that provide the “resort experience” in the Lake Tahoe area.

The communities are: Northstar Village, a family-oriented ski village at the baseof Northstar Mountain; Northstar Highlands, which currently has 16 ski-in/ski-out townhomes located mid-mountain on the slopes of Northstar Mountain;Old Greenwood, a four-season resort community in Truckee, Calif., featuring aJack Nicklaus signature golf course; and Gray’s Crossing, which is adjacent toOld Greenwood and consists of four neighborhoods featuring a Jacobsen-Hardy golf course.

East West Resort also owns Tahoe Mountain Club, a year-round club that offersa range of recreation opportunities and services to the owners of residences atthe four communities.

Inside

Sloan-Kettering Wins Approval To Acquire Cabrini For $83.1M....................2

Judge Allows TLC Vision To Proceed With Plan Despite Criticism ................3

Diocese Says Fate Of $76M Will Set Stage For Repayment Plan ..................4

Fair Finance Fights Appointment Of Interim Bankruptcy Trustee..................4

Downey Creditor Seeks Right To File A Rival Restructuring Plan ..................5

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

see East West on page 8 Company Index

Cabrini Medical Center ......................2

Downey Regional Medical Center-Hospital Inc. ........................5

East West Resort Development V LP....1

Lower Bucks Hospital ......................13

Roman Catholic Diocese of Wilmington..................................4

Seldom Blues LLC ............................13

TLC Vision Corp. ................................3

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Dow Jones DBR Small Cap | 2Wednesday, February 17, 2010

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

By Jacqueline Palank

Cabrini Medical Center has won bankruptcy-court approval tosell its shuttered Manhattan hospital complex to the renownedMemorial Sloan-Kettering Cancer Center for $83.1 million.According to court papers, Judge Arthur J. Gonzalez ofthe U.S. Bankruptcy Court in Manhattan last week signedoff on Memorial Sloan-Kettering’s all-cash purchase of thefive-building complex where Cabrini operated a generalhospital until its state-ordered closure in early 2008.Memorial Sloan-Kettering, through the not-for-profit entityS.K.I. Realty Inc., emerged the winner for the Cabrinicomplex at a Jan. 28 auction, topping leading bidder J.D.Carlisle Development Corp.’s $80 million offer. BecauseJ.D. Carlisle’s bid lost, the New York developer willreceive a $3 million breakup fee from the sale proceeds.The rest of the sale proceeds will go toward creditors suchas current tenants of the shuttered complex and towardpaying off Cabrini’s $5 million bankruptcy loan.Not included in Memorial Sloan-Kettering’s purchase are

assets including medical equipment, supplies and intellec-tual property, like the Cabrini name.Memorial Sloan-Kettering’s beginnings stretch back to1884, when the New York Cancer Hospital opened inManhattan. The organization said that it has since grownto become the world’s oldest and largest private cancercenter, employing more than 10,000 doctors, nurses andother staff to carry out its research and treatment mission.The sale, which Gonzalez approved Thursday, allowsCabrini to move one step closer to completing its bank-ruptcy liquidation.Founded in 1892 by Saint Frances Xavier Cabrini, theCatholic nonprofit hospital in 2006 was earmarked forclosure as part of a New York state effort to reduce anoversupply of hospital beds and officially closed its doorsin early 2008.The hospital filed for Chapter 11 protection in July 2009with a $167 million debt load, seeking breathing roomfrom creditors demanding payment as well as a buyer forits facilities.

Sloan-Kettering Wins Approval To Acquire Cabrini For $83.1M

Dow Jones DBR Small Cap | 3Wednesday, February 17, 2010

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

By Rachel Feintzeig

A judge allowed TLC Vision Corp. to proceed with a newdeal valued at nearly $142 million over protests from acompany originally poised to snatch up TLC’s Canadianeye-surgery centers.

Calling the new plan a “very, very much improved trans-action,” Judge Kevin Gross of the U.S. Bankruptcy Courtin Wilmington, Del., approved TLC’s plan supplement.

The document outlines a new offer of equity from twoco-investors who were just a few days ago battling eachother for the right to fund the plan. One, private-equityfirm Charlesbank Capital Partners LLC, was TLC’s equitysponsor of choice at a hearing earlier this month.

The other, H.I.G. Middle Market LLC, is an affiliate ofDunkirk Investment 1 LLC, a prebankruptcy lender thatholds more than 50% of senior secured debt in TLC. H.I.G.has signed on to contribute 35% of the package afterThursday filing an objection to the proposed Charlesbankplan sponsor agreement.

Attorneys for TLC said that intense last-minute negotia-tions had produced a plan that reserves $12 million incash and notes for unsecured creditors, who had earlierbeen projected to share in $1.4 million. David Neier, anattorney for the unsecured creditors committee, said thecommittee “vigorously” supports the new plan.

If it proceeds swiftly, “we would all sing kumbaya,” he said.

But at least one party won’t be joining in on that sing-along. Lasik MD Inc., which operates more than 20laser vision correction clinics in Canada, developed adeal with TLC months ago to pick up the company’s sixCanadian laser eye surgery centers for C$9.7 million($9.2 million.) Those assets are now being folded intothe new reorganization plan, leaving Lasik MD withouta transaction.

The company protested TLC’s move to walk away fromthe sale – which was designed as a private transactionthat wouldn’t be subject to a public auction - pendingbankruptcy-court approval.

But Gross was not swayed by Lasik MD’s objection, notingthat he was never sold on its sale proposal in the firstplace.

“I really did have a problem with a private sale,” he said.“I think what we have in place is far more in the bestinterest of the debtors’ estates and creditors.”

Under the new plan, secured lenders led by CantorFitzgerald Securities are set to be paid in full in cash.Unsecured creditors will see 90% of their claims – up to $9million – repaid in cash, with the remaining 10% comingfrom shares in a $3 million note.

Despite the increased pool for unsecured creditors,Neier cautioned that the unsecured claims in the casewere likely to amount to much more than $12 million,leaving the creditors with substantially less than a 100%recovery.

“We will absolutely be pleased as punch if we’re wrong,”he said.

Neier added that the committee currently has no plans toinvestigate claims against the secured lenders, whom ithad been at odds with earlier in the case.

“We’re standing down,” said the Winston & Strawnattorney.

Earlier this month, the creditors supported TLC in itspursuit of a temporary restraining order to keep thelenders from taking action to thwart the restructuring. Thelenders had fought the earlier proposal but this timeagreed to a consensual injunction that TLC says preservesthe health of the new restructuring proposal goingforward.

Gross Friday approved the injunction, which met thelenders’ approval only after incorporating protections thatenable them to bypass the restrictions if the plan starts togo awry.

“This is a heavily negotiated document,” said JonathanAlter, an attorney for the bankruptcy and prebankruptcylenders.

Alter, who’s with Bingham McCutchen, pointed to theconsensual injunction as a peace offering of sorts, echoingNeier’s words.

“We are here saying kumbaya,” he said.

Judge Allows TLC Vision To Proceed With Plan Despite Criticism

Dow Jones DBR Small Cap | 4Wednesday, February 17, 2010

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

By Rachel Feintzeig

The Roman Catholic Diocese of Wilmington says its abilitiesto repay alleged victims of abuse and to formulate a debt-repayment plan hinge on a contested investment fund.

The Wilmington, Del., diocese is asking a judge to extendits exclusive right to file a Chapter 11 plan until July 30,saying it can’t possibly map out its bankruptcy exit withoutresolving the dispute.

The diocese has been battling with unsecured creditors formonths over who owns the rights to $76 million in fundsincluded in a pooled investment account – a questionJudge Christopher Sontchi of the U.S. Bankruptcy Court inWilmington called a “gateway issue for the developmentof the case,” according to court papers. The resolution willhave a big impact on the creditors’ eventual recoveries.

“The outcome of the pooled investment litigation willdetermine the scope of the funds available to fund a plan ofreorganization and satisfy claims of the debtor’s estate, and,in particular, claims arising from abuse,” the diocese said inpapers filed Friday. “Until a proper determination of thescope of the property of the debtor’s estate is made, it would

be difficult, if not impossible, for the debtor either to (i)formulate a plan of reorganization or (ii) negotiate with [its]creditors or formulate a consensual plan of reorganization.”

A trial related to the dispute is not set to begin until June2, making it impossible for the diocese to meet its currentFeb. 15 deadline for filing a plan without competition, thediocese said. Parties will temporarily be barred from filingrival plans until Sontchi takes up the issue at a hearingMarch 1.

If he grants the diocese’s request, it will have until Sept. 30,2010, to solicit acceptances for its plan of reorganization.

In addition to pointing to the June trial as reason toextend exclusivity, the diocese noted that the deadline forfiling claims in the case is April 15. It said it doesn’t yethave an accurate estimate of the amount of money it owescreditors and thus is incapable of devising a plan to repaythem before the bar date.

The diocese sought bankruptcy protection on Oct. 18,2009, bogged down with potential liability stemming fromclergy sex-abuse lawsuits. The filing came just one daybefore the first of the lawsuits was set to go to trial.

Diocese Says Fate Of $76M Will Set Stage For Repayment Plan

By Kristina Doss

Fair Finance Co., which closed its doors after FederalBureau of Investigation agents raided its offices last year, isfighting creditors’ efforts to get an interim bankruptcytrustee to oversee the company’s assets.

Fair Finance said in papers filed with the U.S. BankruptcyCourt in Akron, Ohio, that the appointment of an interimtrustee would be “redundant and unnecessary.”

Parties that had filed a class-action lawsuit against thecompany have already asked for the appointment of areceiver - a request that the company supports. The suitcurrently is pending in the Summit County Court ofCommon Pleas.

“Adding an interim trustee to the mix would not serveanyone’s best interests,” Fair Finance said.

Fair Finance’s unsecured creditors are attempting to forcethe investment firm into bankruptcy and have an interimtrustee tapped to protect the company’s assets for thebenefit of creditors.

The creditors said that, since the FBI raided Fair Finance’soffices just before the Thanksgiving holiday last year, thefirm has failed to pay them for $1.5 million in investmentcertificates that have become due and has missed morethan $100,000 in interest payments.

“Many of the certificate holders depended upon theinterest to live and pay bills,” the creditors said in courtpapers. “Many certificate holders invested all of theirsavings, and many, if not most, are senior citizens.”

The creditors accuse Timothy Durham and co-ownerJames Cochran of using Fair Finance funds to make$176 million in loans to themselves or to companiesthey controlled.

“In light of recent events, neither the debtor nor its ownerscan be trusted to run the business of the debtor, and thesituation requires the appointment of an interim trustee totake possession of property and to operate the business ofthe debtor in order to protect and preserve the assets ofthe debtor for the benefit of creditors,” the creditors said.

Fair Finance, however, argued in court papers Friday thatthe creditors failed to identify or provide evidence thatback their fears that the company’s assets will be squan-dered going forward. The creditors’ request for an interimtrustee “appears to rest primarily on allegations” that large,prebankruptcy loans were made to the company’s ownersyears ago, the company said.

Fair Finance said that, even if current management needsto be replaced on an interim basis, “that mission alreadyhas been (nearly) accomplished through receivership pro-ceedings.”

Fair Finance Fights Appointment Of Interim Bankruptcy Trustee

Dow Jones DBR Small Cap | 5Wednesday, February 17, 2010

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

By Jacqueline Palank

A creditor of Downey Regional Medical Center-HospitalInc. is seeking the right to file a rival restructuring planunder which it would acquire the California nonprofithospital out of bankruptcy.

Creditor Prime Healthcare Services Foundation Inc. isurging a bankruptcy court to lift the shield protectingDowney and would-be acquirer Daughters of CharityHealth System from the threat of rival restructuring plansso Prime Healthcare can put its own reorganization planon the table.

According to Prime Healthcare, its offer to acquire Downeyis “quantitatively and qualitatively superior” to the dealDowney is currently negotiating with Daughters of Charity -a deal that bars Downey from negotiating with otherpotential purchasers until March 15, the same dateDowney’s exclusive right to file a restructuring plan runs out.

“Prime Healthcare also believes that the debtor is attempt-ing through plan exclusivity and by not subjecting theDOC offer to overbids, to prevent creditors from choosingto support Prime Healthcare’s offer,” the operator of 13California hospitals said in court papers filed Friday.

Under the letter of intent Downey entered into withDaughters of Charity last December, the latter wouldacquire the former not through an auction sale but byreplacing Downey’s parent via Downey’s restructuring plan.

In return, Daughters of Charity has so far pledged toprovide $2.5 million for some of Downey’s high-rankingcreditors and to fund or find a third party to fund $5million in new working capital, among other things.

Though Daughters of Charity’s letter of intent restrictsDowney’s ability to negotiate alternative deals, it doesallow Downey to select one “back-up offer” to be struc-tured as an asset sale, the terms of which Downey can’tnegotiate until March 15.

Downey said it’s already reviewed alternate offers butultimately determined that “none of them met thehospital’s needs for stability and support.” As a result, thehospital believes a restructuring that would see it joinDaughters of Charity’s network of California hospitals isthe best option.

Downey “has determined in its business judgment thatthe [letter of intent] and term sheet provide for apotential transaction and plan of reorganization that arein the best interests of debtor, its estate, its creditors, andother parties-in-interest,” the hospital said last week.

On the other hand, Prime Healthcare said its planwould include $23 million in cash payments to securedand other creditors, a waiver of its $3.1 million inclaims and spending between $25 million and $40million for capital improvements and other workingcapital at Downey in the first year after the closing of itspurchase.

Downey Creditor Seeks Right To File A Rival Restructuring Plan

By Sabrina Cohen

Mariella Burani Fashion Group said Saturday in astatement sent to the Italian stock exchange that its boardhas decided to ask for protection from creditors and thecompany to be put in administration.

The company also said in the statement it doesn’t plan toclose its business.

A Milan bankruptcy court on Thursday declared a Buranifamily holding company insolvent.

Mariella Burani, Antichi Pellettieri and two othercompanies in the family empire have combined debt ofmore than EUR600 million ($825.7 million).

Burani Designer Holding was briefly listed on the AIMmarket in London, until the family bought out the floatedshares last summer, incurring additional debt the courtdeemed unsustainable.

International

Mariella Burani Fashion Group Seeks Bankruptcy Protection

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Dow Jones DBR Small Cap | 6Wednesday, February 17, 2010

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

ViewpointOne of a series of opinion columns by bankruptcy professionals

By Jennifer E. Mercer

Which is worse, not knowing or knowing but not under-standing? Most of us would choose the latter becauseunderstanding concepts and ideas is what helps us makedecisions and provides comfort. In other words, we feelsafe “in the loop.” Like structure or a daily routine, thiscomfort provides stability.

Stability is the jacket that keeps us dry in the rain, butone size does not fit all.

Similarly, knowing and understanding come in a variety ofsizes. What makes sense to one person can be anextremely confusing or overwhelming concept to another.This is particularly true in the context of a financial trans-action - whether an in- or out-of-court restructuring or amerger or acquisition.

Knowing and understanding are what make professionalswho conduct transactions - lawyers, financial advisers,bankers, and other counselors - so valuable. While thereare nuances in every situation, the basics apply to mostcases:

• Goals such as less debt or asset divestiture

• Rules such as bankruptcy and insolvency laws andSecurities and Exchange Commission rules

• Players such as the company's management and itscritically important specialists and advisers

But what about those watching from the sidelines? Howdo they know where they fit in if they don't understand atransactional process? The simple answer is to tell them.But what do you tell them and more importantly, how doyou tell it?

It is not news that in 2009 we saw the highest number ofcorporate bankruptcies in history. Chapter 11 and bank-ruptcy became commonplace words, and the processnormal. Writing for The Deal, Anthony Baldo aptly pointedout, “the very harshness and scale of the current bank-ruptcy wave has shown just how 'normal' Chapter 11 hasbecome, how it has grown into a transitional chapter formany companies, not unlike, say, raising venture capitalor going public.”

The concept of normal in a transactional process,however, depends on each person's understanding ofthe process but, more importantly, its effect on him and

his perception of it. This perception will be the founda-tion for his reality. This reality will have a material impacton a company's ability to navigate a transaction to asuccessful end.

The old adage “knowledge is power” still holds true. Soas a company prepares for a transaction it may seem likea no-brainer to develop a communications package foreach constituent group. This way, all groups will knowwhat is going on.

But will they understand?

Should we hand out copies of the U.S. Bankruptcy Codeas reference? Is disseminating SEC regulations going tobring it all together? Of course not. Those are laws andregulations that often require years of study and special-ization to fully comprehend.

The solution? You must know your audiences, not justidentify them. First consider how they take in and processinformation. When communicating to key constituencies,it is not what a company says, but how it is said.

Although Chapter 11 may be considered normal to theaverage person after the restructurings of General Motorsand Chrysler, bankruptcy is still perceived negatively, par-ticularly by employees. Moreover, many vendors andsuppliers have become more sophisticated and, in turn,more cautious and more stringent about payments andterms. This is especially true in hard-hit industries, suchas homebuilding.

Many national homebuilding companies used the samevendors and suppliers. As such, this group watched as aseries of homebuilding companies filed for Chapter 11,increasing their own anxiety and insecurity. And, while adebtor may communicate that one benefit of Chapter 11is that it allows companies to continue operating in theordinary course, that knowledge alone does not mitigatethe fear.

The same is true for customers and employees. This fearcan also be exacerbated when dealing with a languagebarrier.

“As we prepared to file for Chapter 11, one of our maingoals was to ensure that we had a firm handle on how allof our key constituents processed information from us sothat we could structure an outreach plan that wouldresonate and benefit all groups,” said Sorana Georgescu,vice president, legal affairs of homebuilder Tousa Inc.

It’s Not What You Say, But How You Say It

continued on next page

Dow Jones DBR Small Cap | 7Wednesday, February 17, 2010

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

ViewpointOne of a series of opinion columns by bankruptcy professionals

“In our industry, we are working with people with diversebackgrounds, as well as those for whom English is asecond language. Our communications team, in concertwith the company and our advisers, created a programthat focused on the individual needs of each audienceand addressed their specific questions and concerns. Wethen ensured that all our communications were translatedinto the languages that our employees, customers andvendors were most comfortable with to ensure theirunderstanding. Upon this foundation, we were able tobuild a program that allowed us to provide ongoingupdates to all groups throughout the process,”Georgescu said.

Considering how a particular audience takes in informa-tion does not require extensive time and money. On thecontrary, companies communicate with their con-stituents on a regular basis. If they didn't, there wouldbe no employees, customers or vendors. So, the placeto start when formulating a communications strategy isto consider how and what is said to these groups in thenormal course of business, and then use this as thefoundation to develop the transactional communicationsmaterials.

For example, Company X was preparing to file forChapter 11. During the planning process the CEOexplained that the company had never had a formal com-munications program and therefore had no baseline fromwhich to work. However, Company X had been inbusiness for more than 25 years, had over 400employees across the U.S. and was a leader in itsrespective industry. Growth could not have occurred

without people talking to one another - communicatingeither formally or informally.

After taking a closer look at each audience it turned outthat the company did in fact have some procedures andprocesses in place. It just needed some support refiningand improving them. After identifying the processes foreach group, the company was able to identify themessages initially used to hire and retain employees,negotiate with vendors, attract customers and increasemarket share.

In preparing to communicate the Chapter 11 filing to eachconstituent, the communications team created messagesthat took each group's concerns into consideration:employees for their jobs, vendors about getting paid, andcustomers about the ability to purchase products andservices.

In the end, while the company's Chapter 11 announce-ment was at the center of all communications, eachgroup received information that touched on andacknowledged its specific concerns, thereby mitigatingpanic and speculation, and truly allowing business tocontinue as normal.

Opinions expressed are those of the author,

not of Dow Jones & Company, Inc.

Jennifer Mercer is a principal at Van Meter Consultants, a strategiccommunications consultancy specializing in corporate and crisis com-munications, bankruptcy and restructuring, mergers and acquisitions,litigation support, and media relations and program development. Shecan be reached at jmercer@vanmeterconsultants.com or 818-981-2800.

continued from page 6

Dow Jones DBR Small Cap | 8Wednesday, February 17, 2010

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

Firm Retention SummaryTLC Vision Corp.

This is a summary of a request from the official committeeof unsecured creditors of TLC Vision Corp. to hire NHBAdvisors Inc. as financial advisers, filed Jan. 29 with theU.S. Bankruptcy Court in Wilmington, Del.

COMPANY: TLC Vision Corp.

FIRM TO BE HIRED: NHB Advisors Inc.

PRINCIPAL ASSIGNED TO THE CASE: Edward T. Gavin

DUTIES: The firm will provide the following services:

- review and analyze the businesses, management, operations,properties, financial condition and prospects of the debtors;

- review and analyze historical financial performance, andtransactions between and among the debtors, their creditors,affiliates and other entities;

- review the assumptions underlying the business plans andcash flow projections for the assets involved in any potentialplan of reorganization;

- determine the reasonableness of the projected performanceof the debtors;

- monitor, evaluate and report to the committee with respectto the debtors' near-term liquidity needs, material operationalchanges and related financial operational issues;

- review and analyze all material contracts and/or agreements;

- assist, procure and assemble any necessary validations ofasset values;

- provide ongoing assistance to the committee and thecommittee's legal counsel;

- evaluate the debtors' capital structure and make recommen-dations to the committee with respect to the debtors' efforts toreorganize their business operations and confirm a plan;

- assist the committee in preparing documentation required inconnection with creating, supporting, or opposing a plan andparticipate in negotiations on behalf of the committee with thedebtors or any groups affected by a plan;

- assist the committee in marketing the debtors' assets with theintent of maximizing the value received for any such assetsfrom any such sale; and,

- provide ongoing analysis of the debtors' financial condition,business plans, capital spending budgets, operating forecasts,management and the prospects for their future performance.

HOURLY COMPENSATION: Members of the firm will becompensated at the following hourly rates:

Edward T. Gavin, CTP $500

Ross Waetzman, CIRA $375

Principals, advisers and associates $250- $550

BONUS POTENTIAL: Not applicable.

CASE BACKGROUND: TLC Vision, an eye care servicescompany, filed for Chapter 11 protection on Dec. 21.

HEARING DATE: A hearing on the matter has beenscheduled for Feb. 17.

Dow Jones DBR Small Cap | 9Wednesday, February 17, 2010

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

Firm Retention SummaryTLC Vision Corp.

This is a summary of a request from the official committeeof unsecured creditors of TLC Vision Corp. to hire MorrisJames LLP as counsel, filed Jan. 29 with the U.S.Bankruptcy Court in Wilmington, Del.

COMPANY: TLC Vision Corp.

FIRM TO BE HIRED: Morris James LLP

PRINCIPAL ASSIGNED TO THE CASE: Jeffrey R. Waxman

DUTIES: The firm will provide the following services:

- provide legal advice and assistance to the committee inits consultation with the debtors relative to the debtors’administration of their reorganization;

- review and analyze all applications, motions, orders,statements of operations and schedules filed with the courtby the debtors or third parties, advise the committee as totheir propriety, and, after consultation with the committee,take appropriate action;

- prepare necessary applications, motions, answers, orders,reports and other legal papers on behalf of the committee;

- represent the committee at hearings held before thecourt and communicate with the committee regarding theissues raised, as well as the decisions of the court; and

- perform all other legal services for the committee whichmay be necessary and proper in this proceeding.

HOURLY COMPENSATION: Members of the firm will becompensated at the following hourly rates:

Stephen M. Miller, partner $515

Jeffrey R. Waxman, partner $425

Eric J. Monzo, associate $300

William W. Weller, paralegal $200

Jamie Dawson, paralegal $175

BONUS POTENTIAL: Not applicable.

CASE BACKGROUND: TLC Vision, an eye care servicescompany, filed for Chapter 11 protection on Dec. 21, 2009.

HEARING DATE: A hearing on the matter has beenscheduled for Feb. 17.

Dow Jones DBR Small Cap | 10Wednesday, February 17, 2010

Source: SecondMarket, Inc. Copyright © Dow Jones & Company, Inc. All Rights Reserved.

Bankruptcy TradesThe following table contains information about selected transfers of claims against companies operating under Chapter 11 protection asreported to federal bankruptcy courts during the week ended Feb. 12. These claims include, but are not limited to, trade claims. Buyers ofbankrupt companies’ debt claims are not required to report to the court the amount paid for the claims, which are often below face value.

Debtor

Seller Buyer Date Claim Amount

Finlay Enterprises Inc.

Richline Group, Inc. ASM Capital, L.P. 2/9/2010 $903,207.31 Vaishali Diamond Corp ASM Capital III, L.P. 2/12/2010 $2,636,290.00

GSI Group Inc.

Danvers Industrial Fair Harbor Capital, LLC 2/11/2010 $1,104.95

Heller Ehrman LLP

Target Research Services Inc. Debt Acquisition Company of America V, LLC 2/12/2010 $5,077.50

Penn Traffic Co.

Brain Harrison Inc. ASM Capital, L.P. 2/11/2010 $2,813.40 Con Yeager Spic Company Riverside Claims, LLC 2/11/2010 $5,536.46 Heidelberg Banking Co ASM Capital, L.P. 2/11/2010 $37,233.62 MCCUE Corporation Creditor Liquidity, L.P. 2/11/2010 $12,270.80 Mitchell’s Grage & trucking ASM Capital, L.P. 2/8/2010 $2,721.58 Parmenter Inc. Riverside Claims, LLC 2/11/2010 $23,880.00 Retail Data LLC ASM Capital, L.P. 2/8/2010 $26,566.16 Retail Data LLC ASM Capital, L.P. 2/8/2010 $4,212.87 Shortway Services ASM Capital, L.P. 2/11/2010 $5,011.76 The Citizen ASM Capital, L.P. 2/8/2010 $6,143.66

TXCO Resources Inc.

Akin, Doherty, Klein & Feuge, P.C. Riverside Claims, LLC 2/11/2010 $7,950.00 Akin, Doherty, Klein & Feuge, P.C. Riverside Claims, LLC 2/11/2010 $7,950.00 Lee Wayne Corporation Riverside Claims, LLC 2/11/2010 $1,490.00 Lee Wayne Corporation Riverside Claims, LLC 2/11/2010 $1,490.00 Multi Shot LLC Riverside Claims, LLC 2/10/2010 $20,879.06 MW Rentals & Services, Inc. Riverside Claims, LLC 2/10/2010 $1,995.99 NORPAC Controls Ltd. Creditor Liquidity, L.P. 2/8/2010 $104,062.80 Petris Technology Inc. Riverside Claims, LLC 2/10/2010 $35,367.71 Teatment Designs, Inc. Riverside Claims, LLC 2/10/2010 $6,624.65 Teatment Designs, Inc. Riverside Claims, LLC 2/10/2010 $1,402.50 Unifirst Holdings LP Riverside Claims, LLC 2/10/2010 $2,627.56 Wildblue Equipment Riverside Claims, LLC 2/10/2010 $6,163.83

Source: SecondMarket, Inc. www.secondmarket.com© 2010, SecondMarket, Inc. All Rights Reserved. SecondMarket and the SecondMarket logos are trademarks of RST Group, Inc.Access to and use of this bankruptcy claims table and its contents are governed by this User Agreement and subject to a license. Anyadditional uses, reproductions or distributions require further permission.

TM

Bankruptcy trade data provided by

Dow Jones DBR Small Cap | 11Wednesday, February 17, 2010

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

New Chapter 7 Bankruptcy Filings

Company Court Location Contact

Atkinson & Johnson Inc. Salt Lake City Midvale, Utah Edward J. Stone 435-658-3366

Bowen’s Horticulture Services Inc. Phoenix Tempe, Ariz. Aryeh D. Scwartz 602-229-8000

C. Shawn Bingham Insurance Agency Inc. Twin Falls, Idaho Burley, Idaho John O. Avery 208-524-3020

Cooper State Woodworks LLC Phoenix Phoenix Peter M. Gennrich 480-609-0011

Facility Electrical Services LLC Phoenix Phoenix Dennis J. Wortman 602-257-0101

Film Management Services Corp. Phoenix Surprise, Ariz. Thomas H. Allen 602-256-6000

Four J’s Enterprises LLC Boise, Idaho Caldwell, Idaho Brian John Coffey 208-991-8043

Glamour Lounge LLC Phoenix Scottsdale, Ariz. Dwayne Farnsworth 480-820-3600

Gomez Enterprises LLC Los Angeles Compton, Calif. Hal D. Goldflam 323-852-1000

Grand Restaurants Inc. Santa Ana, Calif. Mission Viejo, Calif. Rajiv Jain 949-813-6977

Haworth LLC Santa Ana, Calif. Bend, Ore. Thomas J. Polis 949-862-0040

Interior Spaces LLC Los Angeles Los Angeles David R. Hagen 818-992-1940

Jaycar Electric Inc. Detroit Clarkston, Mich. David R. Shook 248-625-6600

KZSW Television Inc. Riverside, Calif. Murrieta, Calif. Cynthia L. Spalding 909-980-9607

Powerhouse Communications LLC Salt Lake City South Jordan, Utah Blake D. Miller 801-363-5600

Premier Phone Insulation Inc. Gulfport, Miss. Hattiesburg, Miss. David L. Lord 601-583-6132

Prime West Communications Inc. Riverside, Calif. Corona, Calif. Warren G. Enright 949-642-3856

Romar Electric Co. Boise, Idaho Emmett, Idaho David A. Krass 208-338-1137

Wilmot Jac Farm Inc. El Dorado, Ark. Wilmot, Ark. Kyle Havner 870-534-2941

World Gym Fitness Center Inc. Riverside, Calif. Riverside, Calif. Manfred Schroer 909-783-4422

The following is a list of some new Chapter 7 bankruptcy filings made during the week ended Feb. 12.

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From The TapeNews from around the country

Detroit Jazz Club Sings Blues For The Last TimeSeldom Blues LLC, an upscale restaurant and jazz club that overlooks theDetroit River, closed over the weekend, citing “financial distress,” according to astatement released by its owners Monday. According to the Detroit News, theowners said that business at the restaurant declined because of Detroit’s auto-motive crisis and the downsizing of shops, offices and the work force at theRenaissance Center where the eatery is located. Seldom Blues opened in June2004, shortly after General Motors completed a $500 million renovation of itsworld headquarters in the Renaissance Center. Seldom Blues filed for Chapter11 protection in September 2009 in U.S. Bankruptcy Court in Detroit.Restaurateur Frank Taylor, who owns Seldom Blues, obtained hundreds ofthousands of dollars in loans from the Detroit Development Authority, an arm ofthe quasi-governmental Detroit Economic Growth Corp., to create the restau-rant, as well as the Detroit Fish Market in Harmonie Park and the failed GrandCity Grille. Taylor said he now will focus his efforts on his Detroit Fish Market @Paradise Valley and Detroit’s Breakfast House & Grill. Positions for the 40-personstaff at Seldom Blues are being sought at other restaurants operated by Taylor.

Goldwater Institute’s Goal Blocked In Court FightThe city of Glendale, Ariz., won the latest court tussle with the GoldwaterInstitute watchdog group over possible lease concessions and incentives for thePhoenix Coyotes hockey team, the Phoenix Business Journal reported. AMaricopa County Superior Court judge Friday ruled against a Goldwater requestto hold Glendale in contempt for not turning over documents in the case fastenough. Goldwater will also have to pay legal fees related to the contemptrequest. The Phoenix-based watchdog group sued the Phoenix suburb last yearafter Glendale turned down public-records requests related to the Coyotes.Goldwater wanted to see what kind of deals Glendale might be offering toChicago Bulls and White Sox owner Jerry Reinsdorf, who was looking at buyingthe Coyotes. Coyotes Hockey LLC filed for Chapter 11 bankruptcy reorganiza-tion in May 2009 and then-owner Jerry Moyes tried to sell the team to Researchin Motion Chief Executive Jim Balsillie, who wanted to move the team toHamilton, Ontario. But the National Hockey League and Glendale fought thatmove in U.S. Bankruptcy Court in Phoenix, and the NHL bought the Coyotes inOctober with plans to selling them to a new ownership group.

Firms To Help Lower Bucks Hospital Exit BankruptcyA U.S. Bankruptcy Court judge in Philadelphia approved Lower Bucks Hospital’sproposal to retain two consulting firms and an outside law firm to help it navigateits way through Chapter 11 proceedings, the Philadelphia Business Journalreported. The Bristol, Pa., medical center received permission Friday to continueworking with SSG Capital Advisors of West Conshohocken, Pa., to help the hospitalidentify and solicit bids from potential buyers, and with Executive Sounding BoardAssociates of Philadelphia, which is providing management consulting services.Lower Bucks Hospital will also continue to have Saul Ewing, a Philadelphia lawfirm, represent the medical center during the bankruptcy proceedings. The threefirms have already been paid more than $1 million in retainer and hourly fees fromLower Bucks Hospital for services provided either prior to or since the bankruptcyfiling. Lower Bucks filed for bankruptcy protection on Jan. 13, listing assets anddebts each of $50 million to $100 million. Its two largest debts are pension obliga-tions of about $35 million, owed to the federal Pension Benefit Guaranty Corp., andbond debt of $24.8 million, owed to New York Mellon Trust Co.

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Dow Jones DBR Small Cap | 12Wednesday, February 17, 2010