George L. Miller, Trustee

Eight Penn Center, Suite 950

1628 John F. Kennedy Boulevard

Philadelphia, PA  19103

Phone:  (215) 561-0950

Fax:  (215) 561-0330

Email:  gmiller@millercoffeytate.com

August 2, 2007

STATUS UPDATE #16

NOTE: The Status Updates are cumulative.  Please read all sixteen updates.

Litigation

I will not comment on pending litigation other than to describe the procedural status of such matters.  Please review update #1 through #15 for additional information.

State Court Action

On July 25, 2007, the Court issued a Case Management Order. This Order does not dispose of the various pleadings which have been filed but establishes a timetable for the Trustee lawsuit if the Trustee’s oppositions to the motions to dismiss are granted.

The more important dates are:

                        September 2, 2008                  Discovery Completion

                        February 2, 2009                     Preliminary Settlement Conference

                        April 6, 2009                           Preliminary Trial Date

Accordingly, I believe there will be little activity to report on the State Court Litigation until February, 2009.