TCR_Public/130820.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Tuesday, August 20, 2013, Vol. 17, No. 230


                            Headlines

1250 OCEANSIDE: Hawaiian Family Seeks to Claw Back Sold Property
710 LONG: Wants Lease Decision Period Stretched Until Oct. 31
AGFEED INDUSTRIES: US Trustee Rips Bid to Retain Foley & Lardner
AGFEED INDUSTRIES: Creditors' Committee Objects to Cash Use
ALL AMERICAN SEMICONDUCTOR: Trade Secret Claim Ruling Appeal Nixed

AMBAC FINANCIAL: Reports Profit Out of Bankruptcy Protection
AMERICAN AIRLINES: $700-Mil. Reserve for Disputed Claims Okayed
AMERICAN AIRLINES: Signs Deal With Ace to Assume Policies
AMERICAN AIRLINES: AMR-US Air Assemble Antitrust Guns in DOJ Suit
AMERICAN AIRLINES: Bankruptcy Plan Argued Amid DOJ Merger Suit

AMERICAN AIRLINES: Teamsters Ends Representational Campaign
AMERICAN AIRLINES: Reports July 2013 Traffic
AMERICAN WEST: Hid Ties to Claims Agent, U.S. Trustee Says
ANCHOR BANCORP: Fudged Financial Reports, SEC Accuses
APPLIED MINERALS: James Berylson Held 6.6% Equity Stake at Aug. 1

ASHAND ENTERPRISES: Case Summary & 9 Unsecured Creditors
AVID TECHNOLOGY: Gets NASDAQ Listing Non-Compliance Notice
BANKUNITED FINANCIAL: 11th Circ. Sends Tax Refund to FDIC
BELLE FOODS: Court Clears Co. to Auction 44 Locations
BIOFUELS POWER: Delays Form 10-Q for Second Quarter

BLUE SKY: Case Summary & 20 Largest Unsecured Creditors
BRAFFITS CREEK: Bankruptcy Case Now Assigned to Judge Laurel Davis
BRAFFITS CREEK: Taps David J. Winterton as Bankruptcy Counsel
BUILDERS GROUP: Battle Brewing Over Use of Shopping Center Cash
BUILDERS GROUP: Monge Robertin Approved as Restructuring Advisor

C HACKETT: Case Summary & 11 Unsecured Creditors
CAMCO FINANCIAL: Files Form 10-Q, Incurs $6.1MM Net Loss in Q2
CAPITOL BANCORP: Court Clears Firm to Sell Stake in Ohio Bank
CASCADE AG: Court Authorizes Asset Sale to Pleasant Valley
CASCADE AG: Has Until Sept. 30 to Decide on Unexpired Leases

CENGAGE LEARNING: Creditors Seek to Probe LBO, Apax Debt Buys
CENGAGE LEARNING: Chap. 11 Plan Filed
CENGAGE LEARNING: Committee's Hiring Approvals Sought
CENTENE CORP: Moody's Affirms 'Ba2' Senior Debt; Outlook Stable
COLEMAN CABLE: Performance Strengthens Amidst Copper Price Hike

COLOREP INC: Sept. 19 Auction of Substantially All Assets Approved
COLOREP INC: Executive Sounding Board to Provide Crisis Management
COLOREP INC: Taps Stubbs Alderton as Special Corporate Counsel
COLOREP INC: Hiring Stutman Treister as Reorganization Counsel
COMMUNITYONE BANCORP: Second Quarter Financial Presentation

COMPETITIVE TECHNOLOGIES: Tonaquint Had 6% Equity Stake at Aug. 9
CONNACHER OIL: S&P Lowers Corporate Credit Rating to 'CCC+'
CORNERSONE BANCOR: Voluntary Chapter 11 Case Summary
DBK INVESTMENTS: Court Approves John Smith as Accountants
DESIGNLINE INT'L: Files for Bankruptcy

DETROIT, MI: Objections Filed on Chapter 9 Eligibility
DETROIT, MI: City, Pension Fund Reps Met Monday
DETROIT, MI: Robert Fishman Appointed as Fee Examiner
DETROIT, MI: Bond Insurer Protests Casino Revenue Protections
DETROIT, MI: Pension Funds to Object to City's Bankruptcy

DIGERATI TECHNOLOGIES: Files Motion in Limine in Case Transfer Bid
DIGITAL GENERATION: Moody's Lowers CFR & Senior Debt Rating to B2
DYNASIL CORP: Incurs $366,000 Net Loss in June 30 Quarter
EASTMAN KODAK: Court Approves Estimation of BNY Mellon Claims
EASTMAN KODAK: Bayer Unit Challenges Ch. 11 Plan Over $250MM Claim

EASTMAN KODAK: Obtains Court Approval to Assume IP Contracts
EASTMAN KODAK: Says Plan Satisfies Confirmation Requirements
EASTMAN KODAK: Creditors Support Plan of Reorganization
EASTMAN KODAK: Names Nine People for Its Post-Bankruptcy Board
ECOTALITY INC: Robbins Geller Files Securities Class Action

ELEPHANT TALK: Files Copy of Investor Presentation with SEC
ENDICOTT INTERCONNECT: Creditors Seek to Probe 'Insider' Dealings
ENDICOTT INTERCONNECT: Creditors Seek Ability to Bid $5-Mil. Debt
ENDICOTT INTERCONNECT: Hearing Today on Cash, Sale
ENDICOTT INTERCONNECT: Panel Taps Arent Fox as Bankruptcy Counsel

ENDICOTT INTERCONNECT: Taps Feather Lane Financial Advisor
ENERSYS: Moody's Raises Corp. Family Rating to Ba1; Outlook Stable
EXCEL MARITIME: Employs Donlin Recano as Solicitation Agent
EXCEL MARITIME: Hires Global Maritime as Financial Advisor
EXCEL MARITIME: Taps Miller Buckfire as Financial Advisor

EXCEL MARITIME: Files Schedules of Assets & Liabilities
EXIDE TECHNOLOGIES: Incentive Plan Approved
EXIDE TECHNOLOGIES: Settles Differences w/ EPA Over Planned Sales
EXPLO SYSTEMS: La. Explosives Deactivator Files for Bankruptcy
FIBERTOWER CORP: Directors Could Face Suit Over FCC License Loss

FLAMINGO PRODUCTS: Case Summary & 20 Largest Unsecured Creditors
FULLCIRCLE REGISTRY: Incurs $179,000 Net Loss in Second Quarter
FURNITURE BRANDS: Paul Hastings, Miller Buckfire on Board
GATEHOUSE MEDIA: Looming Default Cues Moody's to Cut PDR to Ca-PD
GROWTHWORKS CANADIAN: Roseway Waives Security Agreement Default

HAYDEL PROPERTIES: Parties Want Plan Confirmation Denied
HERON LAKE: Project Viking Held 63.3% of A & B Units at July 31
HIGHWAY TECHNOLOGIES: Gets Nod on Settlement, $3MM DIP Loans
HOWREY LLP: Strikes $41MM Deal with BakerHostetler
HULDRA SILVER: Obtains First Tranche of DIP Financing Loan

IDERA PHARMACEUTICALS: Regains Compliance with $1 Bid Price Rule
INDYMAC BANCORP: FDIC Asks 9th Circ. to Open Up $80MM D&O Policies
INTELLICELL BIOSCIENCES: Obtains TRO on Assets Sale
INTERNATIONAL WIRE: Moody's Keeps Ratings on Cooper Price Hike
J REALTY: Case Summary & 8 Unsecured Creditors

JEFFERSON COUNTY, AL: Bond Rating Agency Cites Risks in Exit Plan
JERRY'S NUGGET: Plan Exclusivity Extended Through Sept. 30
JVMW PROPERTIES: BPPR to Exercise Foreclosure on Assets
K-V PHARMACEUTICAL: Exclusive Periods Extension Sought
LEHMAN BROTHERS: JPMorgan in $23 Million Settlement with Clients

LEHMAN BROTHERS: Moves to End Bankruptcy Fight with Citigroup
LIBBEY INC: S&P Raises Rating on Sr. Sec. Notes Due 2020 to 'BB-'
LIGHTSQUARED INC: Lawyers for Falcone, Ergen Spar Over Suit
LONE PINE: LPR Canada Fails to Pay Senior Notes Interest
LONE PINE: S&P Lowers CCR to 'D' After Missed Interest Payment

MARTIN MIDSTREAM: Moody's Says Alinda Purchase is Credit Positive
MARK DAHRLING: Couple Seeks to Dodge Ponzi Clawback Suit
MAXCOM TELECOMUNICACIONES: Confirmation Hearing Set for Sept. 10
MERGE HEALTHCARE: S&P Revises Outlook to Neg. & Affirms 'B' CCR
METRO-GOLDWYN-MAYER: S&P Raises CCR to 'B+'; Outlook Stable

METROLINA STEEL: Case Summary & 20 Largest Unsecured Creditors
MFM DELAWARE: Has Interim Authority to Obtain Loans from T. Kraatz
MINT LEASING: Delays Second Quarter Form 10-Q for Review
MONTREAL MAINE: Canada Suspends Operating License
MPG OFFICE: Reclassifies Results of Bank Tower & Westlawn Garage

MUNICIPAL MORTGAGE: Incurs $5.5-Mil. Net Loss in Second Quarter
NATURAL PORK: Sept. 20 Hearing on Sale of Brayton Residence
OGX PETROLEO: Shareholders Plan Legal Action Against Eike Batista
OMNICOMM SYSTEMS: Incurs $1.6 Million Net Loss in Second Quarter
ONCURE HOLDINGS: Files Schedules of Assets and Liabilities

ORAGENICS INC: Incurs $2.1 Million Net Loss in Second Quarter
ORCKIT COMMUNICATIONS: Networks Terminates SIA
ORMET CORP: Facing Liquidity Crisis, Seeks $10MM in Add'l Loans
ORMET CORP: Seeks Emergency Approval for Extra $10-Mil. Loan
PATIENT SAFETY: Incurs $568,600 Net Loss in Second Quarter

PATRIOT COAL: Statements on New CBA Agreements Filed
PATRIOT COAL: UMWA Members Ratify Settlement
PENN CENTRAL: 3rd Circ. Backs $14.7MM Award to Former Employees
PENSON WORLDWIDE: 5th Amended Liquidation Plan Effective
PEREGRINE FINANCIAL: US Bank Is Complicit in Fraud, CFTC Says

PHILADELPHIA, PA: Borrows So Its Schools Open on Time
PHYSICAL PROPERTY: Incurs HK$43,000 Net Loss in Second Quarter
PICCADILLY RESTAURANT: Hearing Today on Exclusivity Extension Bid
PICCADILLY RESTAURANTS: Sept. 17 Hearing to Approve Plan Outline
PICADILLY RESTAURANT: Hearing on Protiviti Hiring Continued Today

PJ HANLEY'S: Bankruptcy Baron to "Finally Pay the Piper"
QBEX ELECTRONICS: Creditors Panel Balks at Exclusivity Extension
RESIDENTIAL CAPITAL: Freddie Mac Challenges $600MM FGIC Settlement
RESIDENTIAL CAPITAL: PNC Challenges $300MM Mortgage Settlement
REVLON CONSUMER: Moody's Confirms Ba3 CFR and Negative Outlook

REVLON CONSUMER: S&P Affirms 'B+' Corp. Credit Rating
REVOLUTION DAIRY: Aug. 22 Hearing on Adequacy of Plan Outline
REVOLUTION DAIRY: Berkeley Research Okayed as Panel Fin'l Advisor
REVOLUTION DAIRY: Court OKs Modification to TCF Lease Agreement
REVOLUTION DAIRY: Dr. Corbett Okayed as Management Advisor

REVOLUTION DAIRY: Farm Credit's Stay Relief Bid Settled
RIO VISTA: Voluntary Chapter 11 Case Summary
ROTECH HEALTHCARE: Baker & McKenzie, Bifferato Released From Ch.11
ROTECH HEALTHCARE: Taps Cole Schotz as Counsel for BOD Committee
ROTECH HEALTHCARE: 2 Firms Seek to Withdraw as Equity Panel Atty.

ROTECH HEALTHCARE: Seeks Pretrial Decision to Thwart Shareholders
RURAL/METRO CORP: DRC Retained as Noticing Agent in Ch. 11 Cases
SCIENTIFIC LEARNING: Incurs $54,000 Net Loss in 2nd Quarter
SCOOTER STORE: Seeking Continued Use of Cash Collateral
SEMGROUP LP: Former Investors Fight Ex-CEO's Fast-Track Appeal

SOLIMAR ENERGY: Debenture Holders Agree to Waive Event of Default
SPORTSMAN'S WAREHOUSE: S&P Affirms 'B' CCR; Outlook Stable
SPORTSMAN'S WAREHOUSE: Moody's Assigns B2 Rating to New Term Loan
SPROUTS FARMERS: Debt Reduction Spurs Moody's to Lift CFR to B1
STACY'S INC: Accuses Lender of Trying to Derail Sale

SYNAGRO TECHNOLOGIES: Lowballed $4MM Claim, Conn. City Says
T-L BRYWOOD: RCG-KC Brywood Balks at Plan Outline Approval
TALON INTERNATIONAL: Posts $1.3 Million Net Income in Q2
TERESA GIUDICE: 'Real Housewives Of NJ' Stars Plead Not Guilty
TIMIOS NATIONAL: Posts $329,000 Net Income in Second Quarter

TNP STRATEGIC: Proposal Would Have Avoided Defaults, Thompson Says
TRINITY COAL: Files Bankruptcy-Exit Plan Backed by Essar
UNIFIED 2020: Can Employ Southland as Property Tax Consultant
UNIFIED 2020: Taps J. Slim for Litigation Matters Pending in Court
UNIFIED 2020: Schiller Exline Asks Court to Remove Edward Roush

UNIFIED 2020: OBS Asks Court to Appoint Chapter 11 Trustee
UNITEK GLOBAL: Incurs $77.7 Million Net Loss in 2012
VALLEYCREST COS: S&P Raises Corp. Credit Rating to 'B'
VILLAGE AT NIPOMO: Proposed Final Cash Collateral Order Opposed
WATERSTONE AT PANAMA: Seeks Extension to File Plan Until Dec. 5

WEB.COM GROUP: S&P Revises Outlook to Pos. & Affirms 'B' CCR
WEST AIRPORT: Gets Final OK to Hire James Schwitalla as Counsel
WEST AIRPORT: Obtains Final OK for Luis Perez as Accountant
WESTERN CAPITAL: Seeks Extension of Plan Filing Until Dec. 6
WESTERN CAPITAL: Limits Hatch Ray's Services to Three Matters

WESTERN CAPITAL: Court OKs K. Madden as "JRG Dakota" Case Counsel
WESTERN CAPITAL: Taps K. Strauss as Counsel in Foreclosure Case
WOUND MANAGEMENT: Incurs $32,000 Net Loss in Second Quarter

* 6th Circ. Says Rejection of Ch. 11 Plan Isn't Final Order
* Fed Given Week by Judge to Respond on New Swipe-Fee Rules
* U.S. Judges Urge Congress to Give Courts More Money
* NYC Gets Nod From State to Address Hospital Crisis
* Hill Wallack Accused of Forcing Client Into Bad Settlement

* Ex-Taylor English Atty Admits to Ripping Off Clients
* JPMorgan Said to Expect Multiple Fines for Whale Loss
* Obama to Meet with Regulators over Wall Street Reforms
* SEC Approves $8-Billion Sale of NYSE Parent to ICE
* Falcone and Harbinger Agree to Settlement With SEC

* Justice Dept. Wants Ruling Ordering Bernanke to Testify Tossed
* Fed Says It Will Collect $440 Million in Fees from Banks
* Reno-Sparks Metro Foreclosure Activity Plunges 33% in July 2013
* Roetzel's Bruce Schrader Named Bankruptcy Lawyer of the Year
* U.S. Foreclosure Activity Up 2% in July, RealtyTrac Data Show

* Manatt Bankruptcy Lawyer Ivan Kallick in 2014 Best Lawyers List
* Cohen & Grigsby Bankruptcy Lawyers Named to Best Lawyers List
* Dorsey & Whitney Bankruptcy Lawyers Named to Best Lawyers List
* Mintz, Levin's Jeffry Davis Named Bankruptcy Lawyer of the Year

* Greenberg Traurig Bankruptcy Lawyers Named to Best Lawyers List
* Brickler & Eckler Bankruptcy Lawyers Named to Best Lawyers List
* Mintz Levin Bankruptcy Lawyers Named to Best Lawyers List

* Two Federal Bankruptcy Judges Appointed for N.C. District

* Fitch: US Airways-AMR Merger Block May Be Positive for Airports
* Fitch Says Audit Report Proposal Likely Helpful for Investors
* Moody's Affirms B1 Rating on Oakdale's Sewer Revenue Bonds

* Large Companies With Insolvent Balance Sheets

                            *********

1250 OCEANSIDE: Hawaiian Family Seeks to Claw Back Sold Property
----------------------------------------------------------------
Patrick Fitzgerald, writing for DBR Small Cap, reported that a
Hawaiian family wants a bankruptcy judge to allow it to seize back
the land it sold to troubled developer 1250 Oceanside Partners as
part of a stalled $1 billion Big Island real-estate project.

                   About 1250 Oceanside Partners

1250 Oceanside Partners, Front Nine LLC, and Pacific Star Company
LLC, owners of the 1,800-acre Hokuli'a luxury real estate
development near Kona on the island of Hawaii, sought Chapter 11
protection (Bankr. D. Hawaii Lead Case No. 13-00353) on March 6,
2013, in Honolulu.

The Debtors were formed by developer Lyle Anderson and were part
of his development "empire", which included developments in
Hawaii, Arizona, New Mexico and Scotland.  The secured lender,
Bank of Scotland, declared a default and obtained control of the
Debtors in January 2008.

Development of the property, which has 3.5 miles of waterfront on
the Kona coast, stopped after the developers were declared in
default under the loan.  Oceanside and Front Nine own most of the
land within the Hokuli'a project, which is the principal
development.  Pacific Star owns the land referred to as "Keopuka",
near Hokuli'a.  The Hokuli'a was to have 730 residential units, an
18-hole golf course, club and other amenities.

The Debtors say their assets are worth $68.1 million while they
are jointly liable to $625 million of debt to Sun Kona Finance
LLC, which acquired the Hawaii loan from Bank of Scotland.

Simon Klevansky, Esq., Alika L. Piper, Esq., and Nicole D. Stucki,
Esq., at Klevansky Piper, LLP, represent the Debtor in its
restructuring effort.  They replace the law firm of Gelber, Gelber
& Ingersoll as general counsel.

A creditors committee has not been appointed.

James A. Wagner, Esq., at Wagner Choi & Verbrugge, represents Sun
Kona Finance I, LLC and Sun Kona Finance II, LLC, as counsel.


710 LONG: Wants Lease Decision Period Stretched Until Oct. 31
-------------------------------------------------------------
710 Long Ridge Road Operating Company II, LLC, et al., ask the
U.S. Bankruptcy Court for the District of New Jersey to further
extend until Oct. 31, 2013, their time to assume or reject their
unexpired non-residential real property leases on consent of the
landlords.

The Court previously extended the Debtors' lease decision period
until Sept. 22.

The Court will hold a Sept. 12 hearing at 10 a.m. on the request.

          About 710 Long Ridge Road Operating Company II

710 Long Ridge Road Operating Company II, LLC and four affiliates
own sub-acute and long-term nursing care facilities for the
elderly in Connecticut.  The facilities, which are managed by
HealthBridge Management LLC, are Long Ridge of Stamford, Newington
Health Care Center, Westport Health Care Center, West River Health
Care Center, and Danbury Health Care Center.

710 Long Ridge Road Operating Company II and its affiliates sought
Chapter 11 protection (Bankr. D.N.J. Case Nos. 13-13653 to 13-
13657) on Feb. 24, 2013, to modify their collective bargaining
agreements with the New England Health Care Employees Union,
District 1199, SEIU.

The Debtors owe $18.9 million to M&T Bank and $7.99 million on
loans from the U.S. Department of Housing and Urban Development
Federal Housing Administration.

Michael D. Sirota, Esq., at Cole, Schotz, Meisel, Forman &
Leonard, serve as counsel to the Debtors.  Logan & Company, Inc.
is the claims and notice agent.  Alvarez & Marsal Healthcare
Industry Group, LLC, is the financial advisor.

Porzio, Bromberg & Newman, P.C., represents the Official Committee
of Unsecured Creditors.  The Committee tapped to retain
EisnerAmper LLP as accountant.


AGFEED INDUSTRIES: US Trustee Rips Bid to Retain Foley & Lardner
----------------------------------------------------------------
Law360 reported that the U.S. trustee overseeing AgFeed Industries
Inc.'s Chapter 11 proceedings opposed the appointment of Foley &
Lardner LLP as AgFeed's special counsel, saying a conflict of
interest exists because the law firm has a $1.28 million claim
against the company.

According to the report, in a brief filed in Delaware bankruptcy
court, U.S. Trustee Roberta A. DeAngelis asked U.S. Bankruptcy
Judge Brendan Shannon to deny AgFeed's application to retain Foley
as special counsel to handle corporate matters, litigation and the
proposed sale of its assets.

                      About Agfeed Industries

AgFeed Industries, formerly known as M2 P2, LLC, is an
international agribusiness with operations in the U.S. and China.
AgFeed has two business lines: animal nutrition in premix,
concentrates and complete feeds and hog production.  In the U.S.,
AgFeed's hog production unit, M2P2, is a market leader in setting
new standards for production efficiency and productivity.  AgFeed
believes the transfer of these processes, procedures and
techniques will allow its new Western-style Chinese hog production
units to set new standards for production in China.  China is the
world's largest pork market consuming 50 percent of global
production and over 62 percent of total protein consumed in China
is pork.  Hog production in China currently enjoys income tax free
status.

AgFeed Industries, Inc., and its affiliates filed voluntary
petitions under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Case No. 13-11761) on July 15, 2013, with a deal to sell most of
its subsidiaries to The Maschhoffs, LLC, for cash proceeds of $79
million, absent higher and better offers.  The Debtors estimated
assets of at least $100 million and debts of at least $50 million.

Keith A. Maib signed the petition as chief restructuring officer.
Hon. Brendan Linehan Shannon presides over the case.  Donald J.
Bowman, Jr., and Robert S. Brady, Esq., at Young, Conaway,
Stargatt & Taylor, serve as the Debtors' counsel.   BDA Advisors
Inc. acts as the Debtors' financial advisor.  The Debtors' claims
and noticing agent is BMC Group, Inc.


AGFEED INDUSTRIES: Creditors' Committee Objects to Cash Use
-----------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 cases of AgFeed USA, LLC, et al., states that, in
general, it supports the Debtors' request to use cash collateral
securing their prepetition indebtedness but complained that
certain provisions of the interim order are unduly prejudicial to
the rights of unsecured creditors and, therefore, must be stricken
or modified in any final order authorizing the Debtors' use of
Cash Collateral.

Specifically, the Creditors' Committee complains that the granting
of replacement liens on potentially valuable unencumbered
property, including the assets of certain Debtors in which the
liens are avoided, avoidance actions, and their proceeds, is
improper and unnecessary.  Moreover, the Committee complains that
neither the motion nor the budget explicitly set forth the amount
of a carve-out for the fees and expenses of its professionals.

For the reasons states, the Creditors' Committee asks the U.S.
Bankruptcy Court for the District of Delaware to sustain its
objection and deny entry of a Final Order absent the modifications
raised.

The Committee is represented by Sandra G.M. Selzer, Esq., at
Greenberg Traurig LLP, in Wilmington, Delaware; Jeffrey D. Prol,
Esq., Timothy R. Wheeler, Esq., and Beth L. Williams, Esq., at
Lowenstein Sandler LLP, in Roseland, New Jersey; and Bruce S.
Nathan, Esq., at Lowenstein Sandler LLP, in New York.

                      About Agfeed Industries

AgFeed Industries, formerly known as M2 P2, LLC, is an
international agribusiness with operations in the U.S. and China.
AgFeed has two business lines: animal nutrition in premix,
concentrates and complete feeds and hog production.  In the U.S.,
AgFeed's hog production unit, M2P2, is a market leader in setting
new standards for production efficiency and productivity.  AgFeed
believes the transfer of these processes, procedures and
techniques will allow its new Western-style Chinese hog production
units to set new standards for production in China.  China is the
world's largest pork market consuming 50 percent of global
production and over 62 percent of total protein consumed in China
is pork.  Hog production in China currently enjoys income tax free
status.

AgFeed Industries, Inc., and its affiliates filed voluntary
petitions under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Case No. 13-11761) on July 15, 2013, with a deal to sell most of
its subsidiaries to The Maschhoffs, LLC, for cash proceeds of $79
million, absent higher and better offers.  The Debtors estimated
assets of at least $100 million and debts of at least $50 million.

Keith A. Maib signed the petition as chief restructuring officer.
Hon. Brendan Linehan Shannon presides over the case.  Donald J.
Bowman, Jr., and Robert S. Brady, Esq., at Young, Conaway,
Stargatt & Taylor, serve as the Debtors' counsel.   BDA Advisors
Inc. acts as the Debtors' financial advisor.  The Debtors' claims
and noticing agent is BMC Group, Inc.


ALL AMERICAN SEMICONDUCTOR: Trade Secret Claim Ruling Appeal Nixed
------------------------------------------------------------------
Law360 reported that a California appeals court affirmed a lower
court's judgment and attorneys' fees award in a trade secret
misappropriation suit brought by All American Semiconductor LLC
alleging APX Technology Corp. misused assets bought out of
bankruptcy, finding that AAS' claims have no merit.

According to the report, AAS appealed after a trial court granted
summary adjudication in favor of APX on AAS' trade secret
misappropriation cause of action in a suit over a patented memory
module design, arguing that triable issues of fact precluded the
judgment.

                About All American Semiconductor

Based in Miami, Florida, All American Semiconductor Inc. (Pink
Sheets: SEMI.PK) -- http://www.allamerican.com/-- distributed
electronic components manufactured by other firms.  In total, the
company offered approximately 40,000 products produced by
approximately 60 manufacturers.  The company had 36 strategic
locations throughout North America and Mexico, as well as
operations in China and Western Europe.

The Company and its debtor-affiliates filed for Chapter 11
protection (Bankr. S.D. Fla. Lead Case No. 07-12963) on April 25,
2007.  Jason Z. Jones, Esq., Mindy A. Mora, Esq., at Bilzin
Sumberg; and Tina M. Talarchyk, Esq., at Squire Sanders, served as
counsel to the Debtors.  Adrian C. Delancy, Esq., Jerry M.
Markowitz, Esq., Rachel Lopate Rubio, Esq., Rilyn A. Carnahan,
Esq., Ross R. Hartog, Esq., at Markowitz, Davis, Ringel & Trusty;
and Stanley F. Orszula, Esq., at Loeb & Loeb, represented the
Official Committee of Unsecured Creditors.  As of June 30, 2007,
the company posted total assets of $4.07 million and liabilities
of $18.3 million.

The Bankruptcy Court confirmed on April 8, 2009, the Third Amended
Plan of Liquidation proposed by the official committee of
unsecured creditors appointed in the bankruptcy cases of All
American Semiconductor.  The Plan contemplated the liquidation of
all assets of the consolidated estate for the benefit of the
holders of allowed claims and allowed interests.


AMBAC FINANCIAL: Reports Profit Out of Bankruptcy Protection
------------------------------------------------------------
Ben Fox, writing for The Wall Street Journal, reported that Ambac
Financial Group Inc. reported a profit in its first reporting
period after emerging from bankruptcy protection in early May,
helped by sharply lower costs.

According to the report, the bond insurer, which sells protection
on mortgage securities, filed for Chapter 11 bankruptcy protection
in late 2010 after the Internal Revenue Service questioned the
accounting that allowed the company to receive more than $700
million in tax refunds. The company completed its financial
restructuring and came out of bankruptcy protection on May 1.

Under the terms of the restructuring, all allowed claims of
Ambac's former creditors were discharged and those creditors
received new stock, and in some cases, new warrants, issued by the
reorganized company, the report said.  All stock of the company
that existed prior to Ambac's emergence from bankruptcy was
canceled.

For the two-month period from May 1 to June 30, the newly emerged
company reported a profit of $205.7 million, or $4.42 a share, on
total revenue of $242.8 million, the report related.  The
predecessor company posted a loss of $811.1 million, or $2.68 a
share, with total revenue being negative $6 million during the
second quarter a year ago.

The latest two-month period had only $36.6 million in total
expenses before reorganization items and no debt-extinguishment
related losses, while the predecessor company's results were
weighed down by losses in derivate products and net realized
losses on extinguishment of debt, as well as $806.8 million in
total expenses before reorganization items, the report further
related.

                       About Ambac Financial

Ambac Financial Group, Inc., headquartered in New York City, is a
holding company whose affiliates provided financial guarantees and
financial services to clients in both the public and private
sectors around the world.

Ambac Financial filed a voluntary petition for relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No.
10-15973) in Manhattan on Nov. 8, 2010.

Ambac's bond insurance unit, Ambac Assurance Corp., is being
restructured by state regulators in Wisconsin.  AAC is domiciled
in Wisconsin and regulated by the Office of the Commissioner of
Insurance of the State of Wisconsin.  The parent company is not
regulated by the OCI.

Bank of New York Mellon Corp., as trustee to seven different types
of notes, is listed as the largest unsecured creditor, with claims
totaling about US$1.62 billion.

The Blackstone Group LP is the Debtor's financial advisor.
Kurtzman Carson Consultants LLC is the claims and notice agent.
KPMG LLP is tax consultant to the Debtor.

Anthony Princi, Esq., Gary S. Lee, Esq., and Brett H. Miller,
Esq., at Morrison & Foerster LLP, in New York, serve as counsel
to the Official Committee of Unsecured Creditors.  Lazard Freres
& Co. LLC is the Committee's financial advisor.

Bankruptcy Judge Shelley C. Chapman entered an order confirming
the Fifth Amended Plan of Reorganization of Ambac Financial Group,
Inc. on March 14, 2012.  The Plan provides for the full payment of
secured claims and 8.5% to 13.2% recovery for general unsecured
claims.  The second modified version of the confirmed Plan was
declared effective on May 1, 2013, with Ambac obtaining bankruptcy
court approval of a $100+ million claims settlement with the
Internal Revenue Service.

Bankruptcy Creditors' Service, Inc., publishes AMBAC BANKRUPTCY
NEWS.  The newsletter tracks the Chapter 11 proceeding undertaken
by Ambac Financial Group and the restructuring proceedings of
Ambac Assurance Corp. (http://bankrupt.com/newsstand/or 215/945-
7000).


AMERICAN AIRLINES: $700-Mil. Reserve for Disputed Claims Okayed
---------------------------------------------------------------
Judge Sean Lane authorized American Airlines Inc. and its
affiliates to establish a $700 million reserve for disputed
claims.

In an August 9 decision, Judge Lane ordered the Debtors to
establish a $700 million reserve, which will serve as the
"maximum limitation on the ultimate aggregate allowed amount of
the disputed single-dip general unsecured claims."

The disputed single-dip general unsecured claims consist of more
than 1,000 claims, which include intellectual property and
employee claims.

Judge Lane also required the Debtors to establish so-called "sub
reserves" within the $700 million reserve in the total amount of
$155.9 million for certain claims filed by AT&T Credit Holdings
Inc., Banc of America Leasing & Capital LLC, Bay 2 Bay Leasing
LLC, DFO Partnership, HNB Investment Corp., Manufacturers and
Traders Trust Co., UnionBanCal Leasing Corp., V44A-767x2 and a
group of claimants led by Verizon Capital Corp.

The sub reserves and the claims are not subject to the procedures
governing the administration of the $700 million reserve, which
the bankruptcy judge also approved in his August 9 decision.  The
court order is available for free at http://is.gd/Lrs1Hw

The Debtors originally proposed to establish a $331 million
reserve for disputed claims but it was met with opposition from
creditors.  The creditors complained that the amount is
"preposterously low" and would "inevitably deprive creditors of
their ability to recover on their claims."

                       About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.  AMR, previously the world's largest airline prior to
mergers by other airlines, is the last of the so-called U.S.
legacy airlines to seek court protection from creditors.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.  Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

The Retiree Committee is represented by Jenner & Block LLP's
Catherine L. Steege, Esq., Charles B. Sklarsky, Esq., and Marc B.
Hankin, Esq.

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.  The deal is
subject to clearance by U.S. and foreign regulators and by the
bankruptcy judge overseeing AMR's bankruptcy case.

In April 2013, AMR filed a Chapter 11 plan of reorganization that
will carry out the merger.  By distributing stock in the merged
airlines, the plan is designed to pay all creditors in full, with
interest. The hearing before the Court to consider confirmation of
the Plan is scheduled for Aug. 15, 2013.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


AMERICAN AIRLINES: Signs Deal With Ace to Assume Policies
---------------------------------------------------------
AMR Corp. and ACE American Insurance Co. signed an agreement,
which calls for the assumption by the company of ACE's insurance
policies.

Under the deal, AMR agreed to take over the insurance policies
and related agreements pursuant to its proposed Chapter 11
reorganization plan.  The assumption will take effect on the date
AMR officially emerges from bankruptcy protection.

After the plan's effective date, the reorganized company will be
liable for all obligations of AMR and its affiliated debtors
under the policies and agreements.  A copy of the agreement can
be accessed for free at http://is.gd/OjUpcJ

ACE American Insurance Co. is represented by:

     Margery Reed, Esq.
     Wendy Simkulak, Esq.
     DUANE MORRIS LLP
     30 South 17th Street
     Philadelphia, PA 19103
     Tel: (215) 979-1547
     Fax: (215) 979-1020
     Email: MReed@duanemorris.com
            WMSimkulak@duanemorris.com

                       About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.  AMR, previously the world's largest airline prior to
mergers by other airlines, is the last of the so-called U.S.
legacy airlines to seek court protection from creditors.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.  Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

The Retiree Committee is represented by Jenner & Block LLP's
Catherine L. Steege, Esq., Charles B. Sklarsky, Esq., and Marc B.
Hankin, Esq.

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.  The deal is
subject to clearance by U.S. and foreign regulators and by the
bankruptcy judge overseeing AMR's bankruptcy case.

In April 2013, AMR filed a Chapter 11 plan of reorganization that
will carry out the merger.  By distributing stock in the merged
airlines, the plan is designed to pay all creditors in full, with
interest. The hearing before the Court to consider confirmation of
the Plan is scheduled for Aug. 15, 2013.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


AMERICAN AIRLINES: AMR-US Air Assemble Antitrust Guns in DOJ Suit
-----------------------------------------------------------------
Law360 reported that the decorated team of attorneys enlisted by
US Airways Group Inc. and bankrupt American Airlines Inc. to fight
the U.S. Department of Justice's antitrust challenge to a $11
billion merger should give the airlines a fighting chance in
salvaging the deal, lawyers said.

Led by O'Melveny & Myers LLP's Richard Parker, who is representing
US Airways, the team also includes Dechert LLP's Paul Denis and
Joe Sims of Jones Day, the report said.  The trio told reporters
that the airlines have every intention to litigate the case, the
report further related.

Brent Kendall, writing for Daily Bankruptcy Review, reported that
the Justice Department built its lawsuit against the merger of US
Airways Group and AMR Corp. in significant part on company
executives' own past comments, a strategy the government has used
successfully in other recent antitrust cases.

                         Deals Market

Chelsey Dulaney & Beth Williams, writing for Bloomberg News,
reported that the U.S. Justice Department's move to block the
merger between AMR Corp. and US Airways Group Inc. is sending a
chill through the deals market.

According to the report, since both airline companies were sued
Aug. 13 to prevent the transaction that would create the world's
largest carrier, traders grew more skittish around other U.S.
deals seeking regulatory approval. OfficeMax Inc. shares traded
the furthest below Office Depot Inc.'s offer in more than two
months, and the spread between Arbitron Inc.'s stock price and
Nielsen Holdings NV's cash bid hit a record, according to data
compiled by Bloomberg.

"I would say that 90 percent of the Street was totally shocked
that the DOJ decided to sue to block," Kathleen Renck, New York-
based head of event-driven research at FBN Securities Inc., told
Bloomberg in a phone interview. "Definitely it seems like the DOJ
and FTC are taking a harder line. It's certainly not better for
Wall Street if the deals are more complicated or if they have to
litigate."

The Justice Department argued that consumers may face higher fares
and fewer flights across a range of markets if the $14 billion
airline transaction were to go through, the report said.  Just two
weeks ago, Office Depot assured shareholders that its $1.2 billion
acquisition is on track to close by year-end as it seeks approval
from the U.S. Federal Trade Commission. Meanwhile, Nielsen's $1.3
billion bid to combine U.S. television and radio ratings data also
is still under review after a second request for information from
the FTC.

The antitrust case is U.S. v. US Airways Group Inc. (LCC), 13-cv-
01236, U.S. District Court, District of Columbia (Washington).

                       About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.  AMR, previously the world's largest airline prior to
mergers by other airlines, is the last of the so-called U.S.
legacy airlines to seek court protection from creditors.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.  Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

The Retiree Committee is represented by Jenner & Block LLP's
Catherine L. Steege, Esq., Charles B. Sklarsky, Esq., and Marc B.
Hankin, Esq.

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.  The deal is
subject to clearance by U.S. and foreign regulators and by the
bankruptcy judge overseeing AMR's bankruptcy case.

In April 2013, AMR filed a Chapter 11 plan of reorganization that
will carry out the merger.  By distributing stock in the merged
airlines, the plan is designed to pay all creditors in full, with
interest. The hearing before the Court to consider confirmation of
the Plan began Aug. 15, 2013.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


AMERICAN AIRLINES: Bankruptcy Plan Argued Amid DOJ Merger Suit
--------------------------------------------------------------
Law360 reported that despite a looming lawsuit from regulators to
block the merger, the parent company of American Airlines is
moving forward with a reorganization plan that would combine the
bankrupt carrier with US Airways to become the world's largest
airline.

According to the report, a confirmation hearing for AMR Corp.
moved forward in New York bankruptcy court Thursday in an at-
capacity courtroom with broken air conditioning.  Some observers
had speculated the hearing would be adjourned as lawyers scramble
to strategize just 48 hours after the U.S. Department of Justice
filed a lawsuit blocking the merger deal.

                           Square One?

Nick Brown, writing for Reuters, reported that AMR Corp. could
face months of new restructuring talks, with shareholders likely
to suffer the biggest blow, if its merger with US Airways Group is
successfully blocked by the U.S. government, according to people
close to the bankruptcy proceedings and experts.

The report related that the Justice Department sued to stop
American Airlines' parent from combining with US Airways, saying
the proposed tie-up would reduce competition and hurt consumers by
leading to higher airfares and fees. The two airlines vowed to
defend the $11 billion deal in court.

If the government succeeds, it would send AMR, which has been in
bankruptcy since 2011, back to the drawing board to figure out how
to pay back creditors, fund a restructuring and improve its
business model, the report said.

"It would basically be a second bankruptcy," said Stephen Lubben,
a bankruptcy expert and professor at Seton Hall University School
of Law.

Some of AMR's financial issues were resolved before the merger was
announced in February. Most notably, the company had reached
money-saving labor deals with the unions after months of bitter
talks, so they are not contingent on the merger.

                       About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.  AMR, previously the world's largest airline prior to
mergers by other airlines, is the last of the so-called U.S.
legacy airlines to seek court protection from creditors.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.  Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

The Retiree Committee is represented by Jenner & Block LLP's
Catherine L. Steege, Esq., Charles B. Sklarsky, Esq., and Marc B.
Hankin, Esq.

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.  The deal is
subject to clearance by U.S. and foreign regulators and by the
bankruptcy judge overseeing AMR's bankruptcy case.

In April 2013, AMR filed a Chapter 11 plan of reorganization that
will carry out the merger.  By distributing stock in the merged
airlines, the plan is designed to pay all creditors in full, with
interest. The hearing before the Court to consider confirmation of
the Plan began Aug. 15, 2013.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


AMERICAN AIRLINES: Teamsters Ends Representational Campaign
-----------------------------------------------------------
The International Brotherhood of Teamsters on Aug. 16 announced an
end to the year-long campaign to represent aircraft mechanics and
related personnel at American Airlines.  The following is a
statement by Teamsters spokesman Bret Caldwell:

"The Teamsters Union has determined that the recent announcement
that the federal government will fight the proposed merger between
US Airways and American Airlines places the workers at American
Airlines in significant turmoil.  American Airlines' emergence
from bankruptcy has been cast into doubt and the union has
determined that the continued conflict between labor organizations
is not in the best interest of the workers.  This is not a time
for workers to fight among themselves.

"More than 6,000 American Airlines mechanics and related personnel
signed cards to make the Teamsters their bargaining
representative.  The Teamsters want to thank those men and women
for joining us in the fight to improve their wages and working
conditions.  As the largest union of airline mechanics and related
personnel in the nation, the Teamsters will continue to set the
standard for good wages, strong benefits, real job security and
workplace dignity in this industry."

Founded in 1903, the International Brotherhood of Teamsters --
http://www.teamster.org-- represents 1.4 million hardworking men
and women throughout the United States, Canada and Puerto Rico.

                       About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.  AMR, previously the world's largest airline prior to
mergers by other airlines, is the last of the so-called U.S.
legacy airlines to seek court protection from creditors.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.  Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

The Retiree Committee is represented by Jenner & Block LLP's
Catherine L. Steege, Esq., Charles B. Sklarsky, Esq., and Marc B.
Hankin, Esq.

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.  The deal is
subject to clearance by U.S. and foreign regulators and by the
bankruptcy judge overseeing AMR's bankruptcy case.

In April 2013, AMR filed a Chapter 11 plan of reorganization that
will carry out the merger.  By distributing stock in the merged
airlines, the plan is designed to pay all creditors in full, with
interest. The hearing before the Court to consider confirmation of
the Plan began Aug. 15, 2013.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


AMERICAN AIRLINES: Reports July 2013 Traffic
--------------------------------------------
AMR Corporation reported July 2013 consolidated revenue and
traffic results for its principal subsidiary, American Airlines,
Inc., and its wholly owned subsidiary, AMR Eagle Holding
Corporation.

July's consolidated passenger revenue per available seat mile
(PRASM) increased an estimated 4.0 percent versus last year, to an
all-time record high for any month of 14.61 cents/ASM.

Consolidated capacity and traffic were 2.6 percent and 2.5 percent
higher year-over-year, respectively, resulting in a consolidated
load factor of 86.9 percent, 0.1 points lower versus the same
period last year.

Domestic traffic was 0.3 percent higher year-over-year on 0.2
percent less capacity, resulting in a domestic load factor of 88.7
percent, 0.5 points higher compared to the same period last year.

International load factor of 86.4 percent was 0.7 points lower
year-over-year, as traffic increased 5.4 percent on 6.2 percent
more capacity.

On a consolidated basis, the company boarded 10 million passengers
in July.

                       About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.  AMR, previously the world's largest airline prior to
mergers by other airlines, is the last of the so-called U.S.
legacy airlines to seek court protection from creditors.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.  Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.

The Retiree Committee is represented by Jenner & Block LLP's
Catherine L. Steege, Esq., Charles B. Sklarsky, Esq., and Marc B.
Hankin, Esq.

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.  The deal is
subject to clearance by U.S. and foreign regulators and by the
bankruptcy judge overseeing AMR's bankruptcy case.

In April 2013, AMR filed a Chapter 11 plan of reorganization that
will carry out the merger.  By distributing stock in the merged
airlines, the plan is designed to pay all creditors in full, with
interest. The hearing before the Court to consider confirmation of
the Plan is scheduled for Aug. 15, 2013.

Bankruptcy Creditors' Service, Inc., publishes AMERICAN AIRLINES
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by AMR Corp. and its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


AMERICAN WEST: Hid Ties to Claims Agent, U.S. Trustee Says
----------------------------------------------------------
Law360 reported that the U.S. trustee overseeing the American West
Development Inc. bankruptcy lodged an adversary proceeding in
Nevada federal court, seeking an order revoking approval of its
Chapter 11 reorganization plan in light of its president's
allegedly undisclosed relationship with the ex-claims
representative and his counsel.

According to the report, Acting U.S. Trustee August B. Landis
contends that the home builder and its president, Robert M. Evans,
helped perpetrate a fraud upon the court by concealing Evans' past
dealings with the case's claims agent, James L. Moore, and his
attorney.

                        About American West

American West Development, Inc. -- fdba Castlebay 1, Inc., et al.
-- is a homebuilder in Las Vegas, Nevada, founded on July 31,
1984.  Initially, AWDI was known as CKC Corporation, but later
changed its name.

AWDI filed for Chapter 11 bankruptcy protection (Bankr. D. Nev.
Case No. 12-12349) on March 1, 2012.  Judge Mike K. Nakagawa
presides over the case.  Brett A. Axelrod, Esq., and Micaela
Rustia Moore, Esq., at Fox Rothschild LLP, serve as AWDI's
bankruptcy counsel.  Nathan A. Schultz, P.C., is AWDI's conflicts
counsel.  AWDI hired Garden City Group as its claims and notice
agent.  American West disclosed $55.39 million in assets and
$208.5 million in liabilities as of the Chapter 11 filing.

James L. Moore, as future claims representative in the Chapter 11
case of American West Development, Inc., tapped the law firm of
Field Law Ltd. as his counsel.


ANCHOR BANCORP: Fudged Financial Reports, SEC Accuses
-----------------------------------------------------
Law360 reported that bankrupt Anchor BanCorp Wisconsin Inc. used
an estimating system to file misleading financial reports that
misrepresented millions of dollars in losses, the U.S. Securities
and Exchange Commission said in a suit filed in Washington federal
court.

According to the report, the suit was settled concurrently with
the filing without Anchor paying monetary penalties.  Due to the
high volume of loans it manages, Anchor uses an estimating system
in its quarterly reports, the commission says, the report related.

Anchor BanCorp Wisconsin Inc., a bank holding company, filed a
prepackaged Chapter 11 petition (Bankr. W.D. Wisc. Case No.
13-14003) on Aug. 12 in the hometown of Madison, Wisconsin,
because one of three secured bank lenders wouldn't go along with
an out-of-court recapitalization.

Anchor BanCorp Wisconsin Inc. on Aug. 13 disclosed that the
Holding Company has entered into definitive stock purchase
agreements with a number of institutional and other private
investors as part of a $175 million recapitalization of the
institution.  No new investor will own in excess of 9.9% of the
common equity of the recapitalized Holding Company.

At the same time, in order to facilitate the recapitalization, the
Holding Company announced that it has filed a voluntary petition
under Chapter 11 of the United States Bankruptcy Code in the
United States Bankruptcy Court for the Western District of
Wisconsin to implement a "pre-packaged" plan of reorganization to
restructure the Holding Company and recapitalize its wholly-owned
subsidiary, AnchorBank, fsb ("AnchorBank" or the "Bank").


APPLIED MINERALS: James Berylson Held 6.6% Equity Stake at Aug. 1
-----------------------------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, James Berylson and his affiliates disclosed that as of
Aug. 1, 2013, they beneficially owned 6,434,524 shares of common
stock of Applied Minerals Inc. representing 6.6 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/Ga8Oi1

                       About Applied Minerals

New York City-based Applied Minerals, Inc. (OTC BB: AMNL) is a
leading global producer of halloysite clay used in the development
of advanced polymer, catalytic, environmental remediation, and
controlled release applications.  The Company operates the Dragon
Mine located in Juab County, Utah, the only commercial source of
halloysite clay in the western hemisphere.  Halloysite is an
aluminosilicate clay that forms naturally occurring nanotubes.

The Company reported a net loss attributable to the Company of
$7.48 million in 2011, a net loss attributable to the Company of
$4.76 million in 2010, and a net loss attributable to the Company
of $6.76 million in 2009.  The Company's balance sheet at
March 31, 2013, showed $10.52 million in total assets, $2.75
million in total liabilities, and $7.77 million in total
stockholders' equity.

                           Going Concern

The Company has incurred material recurring losses from
operations.  At March 31, 2012, the Company had a total
accumulated deficit of approximately $43,084,500.  For the three
months ended March 31, 2012, and 2011, the Company sustained net
losses from exploration stage before discontinued operations of
approximately $4,056,700 and $1,695,100, respectively.  The
Company said that these factors indicate that it may be unable to
continue as a going concern for a reasonable period of time.  The
Company's continuation as a going concern is contingent upon its
ability to generate revenue and cash flow to meet its obligations
on a timely basis and management's ability to raise financing or
dispose of certain non-core assets as required.  If successful,
this will mitigate the factors that raise substantial doubt about
the Company's ability to continue as a going concern.

                         Bankruptcy Warning

At Dec. 31, 2011, and 2010, the Company had accumulated deficits
of $39,183,632 and $31,543,411, respectively, in addition to
limited cash and unprofitable operations.  For the year ended
Dec. 31, 2011, and 2010, the Company sustained net losses before
discontinued operations of $7,476,864 and $4,891,525,
respectively.  As of March 15, 2012, the Company has not
commercialized the Dragon Mine and has had to rely on cash flow
generated from the sale of stock and convertible debt to fund its
operations.  If the Company is unable to fund its operations
through the commercialization of the Dragon Mine, the sale of
equity or debt or a combination of both, it may have to file
bankruptcy.


ASHAND ENTERPRISES: Case Summary & 9 Unsecured Creditors
--------------------------------------------------------
Debtor: Ashand Enterprises, Inc.
        86-48 122 Street
        Richmond Hill, NY 11418

Bankruptcy Case No.: 13-44999

Chapter 11 Petition Date: August 14, 2013

Court: U.S. Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Carla E. Craig

Debtor's Counsel: H. Bruce Bronson, Esq.
                  BRONSON LAW OFFICES, P.C.
                  61-43 186th Street
                  Fresh Meadows, NY 11365
                  Tel: (877) 385-7793
                  E-mail: hbbronson@gmail.com

Scheduled Assets: $7,050,000

Scheduled Liabilities: $4,020,497

A copy of the Company's list of its largest unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/nyeb13-44999.pdf

The petition was signed by Velappan Veeraswamy, president/sole
director.


AVID TECHNOLOGY: Gets NASDAQ Listing Non-Compliance Notice
----------------------------------------------------------
Avid Technology, Inc., disclosed that on August 14, 2013 it
received an anticipated additional notification from the staff of
the NASDAQ Listing Qualifications Department of Avid's continued
noncompliance with NASDAQ Listing Rule 5250(c)(1) due to Avid's
delay in filing its Form 10-Q for the quarter ended June 30, 2013.
The notification, which was superseded by a notification dated
August 15, 2013 to correct a typographical error, was issued in
accordance with NASDAQ procedure, which provides that failure to
comply with the rule could serve as a basis for the delisting of
Avid's stock from the NASDAQ Global Select Market.

The NASDAQ notification requires Avid to submit an update to its
original plan to regain compliance with NASDAQ's filing
requirements for continued listing by August 21, 2013.  Avid
intends to submit such an update to its original plan by the
required date.  If the Staff does not accept Avid's plan, Avid
will have the opportunity to appeal that decision to a NASDAQ
Hearings Panel. If the Staff accepts the Company's plan, the Staff
could grant the Company until September 16, 2013, to regain
compliance.  The NASDAQ notice has no immediate effect on the
listing of Avid's common stock on the NASDAQ Global Select Market.

As previously announced, the Company's annual report on Form 10-K
for the year ended December 31, 2012 and quarterly reports on Form
10-Q for the quarters ended March 31, 2013 and June 30, 2013,
could not be filed timely because the Company's ongoing accounting
evaluation and the restatement of the Company's financial
statements for the fiscal years ended December 31, 2011, 2010 and
2009 and for the quarterly periods ended March 31, 2012 and 2011,
June 30, 2012 and 2011, and September 30, 2012 and 2011.  The
Company is working diligently to complete the accounting
evaluation, the restatements and the filings as soon as possible.

During this evaluation, Avid plans to continue to invest in its
product innovation and execute on its growth strategy.  Avid
believes it is well positioned to support its customers' ongoing
success.

                            About Avid

Avid Technology, Inc. -- http://www.avid.com-- creates the
digital audio and video technology used to make the most listened
to, most watched and most loved media in the world -- from the
most prestigious and award-winning feature films, music
recordings, television shows, to live concert tours and news
broadcasts.  Some of Avid's most influential and pioneering
solutions include Media Composer(R), Pro Tools(R), Interplay(R),
ISIS(R), VENUE, Sibelius(R), and System 5.


BANKUNITED FINANCIAL: 11th Circ. Sends Tax Refund to FDIC
---------------------------------------------------------
Law360 reported that the Eleventh Circuit ordered BankUnited
Financial Corp. to forward refunds from a consolidated tax return
to the FDIC as receiver, for distribution to its subsidiaries.

According to the report, the ruling reverses a Florida bankruptcy
court's decision to allow BankUnited to keep the refunds as assets
for its bankruptcy estate.

The opinion, written by U.S. Circuit Judge Gerald Bard Tjoflat,
noted that the bankruptcy court's decision undermined a tax
sharing agreement BankUnited signed with its bank subsidiary
BankUnited FSB more than a decade before BankUnited entered
bankruptcy, the report related.

                     About BankUnited Financial

BankUnited Financial Corp. (OTC Ticker Symbol: BKUNQ) --
http://www.bankunited.com/-- was the holding company for
BankUnited FSB, the largest banking institution headquartered in
Coral Gables, Florida.  On May 21, 2009, BankUnited FSB was closed
by regulators and the Federal Deposit Insurance Corporation
facilitated a sale of the bank to a management team headed by John
Kanas, a veteran of the banking industry and former head of North
Fork Bank, and a group of investors that include W.L. Ross & Co.,
Blackstone Group, Carlyle and Centerbridge.  The new owners
installed Mr. Kanas as CEO and he sought to revamp BankUnited as a
commercial lender in south Florida.

BankUnited Financial and its affiliates filed for Chapter 11
protection (Bankr. S.D. Fla. Lead Case No. 09-19940) on May 22,
2009.  Stephen P. Drobny, Esq., and Peter Levitt, Esq., at Shutts
& Bowen LLP; Mark D. Bloom, Esq., and Scott M. Grossman, Esq., at
Greenberg Traurig, LLP; and Michael C. Sontag, at Camner, Lipsitz,
P.A., represent the Debtors as counsel.  Corali Lopez-Castro,
Esq., David Samole, Esq., at Kozyak Tropin & Throckmorton, P.A.;
and Todd C. Meyers, Esq., at Kilpatrick Stockton LLP, serve as
counsel to the official committee of unsecured creditors.

The banking unit had assets of $12.8 billion and deposits of $8.6
billion as of May 2, 2009.  The holding company, in its bankruptcy
petition, disclosed $37,729,520 in assets against $559,740,185 in
debts.  Aside from those assets, BankUnited said a "valuable"
asset is its $3.6 billion net operating loss carryforward.

Wilmington Trust Co., U.S. Bank, N.A., and the Bank of New York
were listed among the company's largest unsecured creditors in
their roles as trustees for security issues.  BankUnited estimated
the Bank of New York claim tied to convertible securities at
$184 million.  U.S. Bank and Wilmington Trust are owed
$120 million and $118.171 million on account of senior notes.

The Fourth Amended Joint Plan of Liquidation proposed by the
Official Committee of Unsecured Creditors of BankUnited Financial
became effective on March 9, 2012.


BELLE FOODS: Court Clears Co. to Auction 44 Locations
-----------------------------------------------------
Marie Beaudette, writing for DBR Small Cap, reported that a
bankruptcy judge said grocery chain Belle Foods LLC can put 44 of
its 57 stores on the auction block next month after receiving
unexpected interest in some of its locations.

An earlier DBR report said that reports retailer-owned cooperative
Associated Wholesale Grocers Inc. sought key changes to the
proposed rules that would govern an auction of 44 of the stores.
Associated Wholesale relayed that some of its members are
interested in bidding on Belle Foods grocery stores.

                      About Belle Foods

Belle Foods, LLC, bought 57 stores from Southern Family Markets
LLC in 2012, and put the business into Chapter 11 reorganization
(Bankr. N.D. Ala. Case No. 13-81963) on July 1, 2013, in Decatur,
Alabama.

The chain is owned by a father and son who purchased the operation
with a $4 million secured term loan and $24 million revolving
credit from the seller.  The stores are in Florida, Georgia,
Alabama and Mississippi.

The petition shows assets and debt both for more than $10 million.
C&S Wholesale Grocers Inc. is owed about $6 million on secured and
unsecured debt.  Belle Foods owes another $8 million to trade
suppliers, according to a court filing.

D, Christopher Carson, Esq., Brent W. Dorner, Esq., and Marc P.
Solomon, Esq., at Burr & Forman, LLP, represent the Debtor as
counsel.


BIOFUELS POWER: Delays Form 10-Q for Second Quarter
---------------------------------------------------
Biofuels Power Corp. notified the U.S. Securities and Exchange
Commission that the filing of its quarterly report on Form 10-Q
for the period ended June 30, 2013, will be dalayed.  The Company
said its financial statements for the quarter are not yet ready
for distribution as a result of recent measures the Company has
taken with regard to efforts to sign operating agreements which
will effect subsequent events at the balance sheet date.

                          Biofuels Power

Humble, Tex.-based Biofuels Power Corporation is a distributed
energy company that is pioneering the use of biodiesel to fuel
small electric generating facilities that are located in close
proximity to end-users.  BPC's first power plant is currently
located near Houston, Texas in the city of Oak Ridge North.

Biofuels Power disclosed net income of $342,456 on $0 of revenue
for the year ended Dec. 31, 2012, as compared with a net loss of
$1.28 million on $0 of revenue during the prior year.  The
Company's balance sheet at March 31, 2013, showed $1.21 million in
total assets, $5.58 million in total liabilities and a $4.37
million total stockholders' deficit.

Clay Thomas, P.C., in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that
the Company has suffered significant losses and will require
additional capital to develop its business until the Company
either (1) achieves a level of revenues adequate to generate
sufficient cash flows from operations; or (2) obtains additional
financing necessary to support its working capital requirements.
These conditions raise substantial doubt about the Company's
ability to continue as a going concern.


BLUE SKY: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Blue Sky Association, LLC
        6001 Edinger Avenue
        Huntington Beach, CA 92647

Bankruptcy Case No.: 13-16914

Chapter 11 Petition Date: August 14, 2013

Court: U.S. Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Theodor Albert

Debtor's Counsel: Daniel S. Miller, Esq.
                  LAW OFFICE OF DANIEL S. MILLER
                  412 Olive Avenue #620
                  Huntington Beach, CA 92648
                  Tel: (714) 342-5992

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A copy of the Company's list of its 20 largest unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/cacb13-16914.pdf

The petition was signed by Steve Gutierrez, managing dire


BRAFFITS CREEK: Bankruptcy Case Now Assigned to Judge Laurel Davis
------------------------------------------------------------------
The U.S. Bankruptcy Court District of Nevada has reassigned the
any related adversary proceedings and the Chapter 11 case of
Braffits Creek Estates, LLC, to Judge Laurel E. Davis.

According to the document filed with the Court, the reassignment
was pursuant to the delegation of powers and duties given to the
Clerk in Local Rule 5075.

Braffits Creek Estates LLC filed for Chapter 11 protection (Bankr.
D. Nev. Case No. 12-19780) on Aug. 23, 2012.  Bankruptcy Judge
Bruce A. Markell presides over the case.  David J. Winterton, &
Assoc., Ltd., represents the Debtor in its restructuring effort.
The Debtor disclosed $25,003,800 in assets and $33,959,140 in
liabilities as of the Chapter 11 filing.


BRAFFITS CREEK: Taps David J. Winterton as Bankruptcy Counsel
-------------------------------------------------------------
Braffits Creek Estates, LLC, filed amended papers asking the U.S.
Bankruptcy Court for the District of Nevada for permission to
employ the Law Firm of David J. Winterton & Assoc., Ltd. as
counsel.

The hourly rates of the firm's personnel are:

         Attorneys                    $250 to $400
         Paralegal                    $125

To the best of the Debtor's knowledge, the firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The firm can be reached at:

         David J. Winteron, Esq.
         DAVID J. WINTERTON & ASSOC., LTD.
         1140 N. Town Center Drive, Suite 120
         Las Vegas, NV 89144
         Tel: (702) 363 0317
         E-mail: david@davidwinterton.com

                 About Braffits Creek Estates LLC

Braffits Creek Estates LLC filed for Chapter 11 protection (Bankr.
D. Nev. Case No. 12-19780) on Aug. 23, 2012.  Bankruptcy Judge
Bruce A. Markell presides over the case.  David J. Winterton, &
Assoc., Ltd., represents the Debtor in its restructuring effort.
The Debtor disclosed $25,003,800 in assets and $33,959,140 in
liabilities as of the Chapter 11 filing.


BUILDERS GROUP: Battle Brewing Over Use of Shopping Center Cash
---------------------------------------------------------------
Secured and judgment creditor CPG/GS PR NPL LLC replied to
Builders Group & Development Corp.'s opposition to CPG/GS' motion
for order determining the foreclosure of rents or prohibiting the
use of CPG/GS' cash collateral.

According to CPG/GS, rents from the Cupey Professional Mall became
the property of CPG/GS pursuant to a prepetition foreclosure that
took place over two years before the Debtor's bankruptcy filing.

Additionally, CPG/GS stated that, among other things:

   -- a state court judgment precludes the issue of the amount of
      the debt through both collateral estoppel and the Rooker-
      Feldman Doctrine;

   -- the Debtor's claim for a section 506(c) surcharge is legally
      insufficient;

   -- the Debtor's claims for additional relief, as set forth in
      the opposition, are not applicable; and

   -- the Court must prohibit the use of any cash collateral due
      to the Debtor's inability to properly administer the
      shopping center.

As reported in the Troubled Company Reporter on July 31, 2013, the
Debtor said CPG's statement related to "settlement attempts, bad
faith, mismanagement and alienation of patrons" is "self-serving
and fictional," with the only purpose being to influence the Court
to take a stance against Builders.  Contrary to CPG's
representations, Builders and CPG reached a prepetition agreement
through a mediated effort which only required minimal changes
prior to execution, and CPG kept delaying the signing, then it
about-faced and filed a complaint for foreclosure.  Builders,
through its president's personal resources and those of related
companies, has paid the expenses of maintaining the Cupey
Professional Mall out of pocket since September 2010.  The Debtor
said the collateral has been protected and the value has been
increased due to the efforts of Builders.

The Hon. Enrique S. Lamoutte Inclan will convene a hearing on
Aug. 26, 2013, at 2 p.m., to consider:

     -- Builders Group & Development Corp.'s motion to use cash
        collateral, and

     -- secured and judgment creditor CPG/GS PR NPL LLC's motion
        to alter or amend the Court's interim order entered on
        July 19, 2013; and the Debtor's opposition to that motion.

CPG/GS, in its objection to the interim order authorizing the
Debtor's use of cash collateral, stated that CPG has no confidence
in the honesty or the capacity of the Debtor's current management
and will not consent to the Debtor's current management's use of
its cash collateral.

CPG also explained that the Debtor has (a) no right to use any
cash collateral of CPG/GS, as the same was properly foreclosed and
transferred prepetition to CPG/GS, thus does not constitute an
asset of the bankruptcy estate; (b) Debtor is not able of
providing any reasonable adequate protection to CPG/GS as there
exists no equity in its assets, and there exists no reorganization
or refinancing alternatives that could even remotely provide a
viable exit strategy pursuant to which creditors, such as CPG/GS,
will be paid the amount and value of their security interest.

                       About Builders Group

Builders Group & Development Corp. owns and manages the Cupey
Professional Mall, a shopping center located in Cupey, Puerto
Rico.  The Company sought Chapter 11 protection (Bankr. D.P.R.
Case No. 13-04867) on June 12, 2013, in San Juan, Puerto Rico, its
home-town.  The company sought bankruptcy on the eve of a
foreclosure sale of its property.  The Debtor estimated at least
$10 million in assets and liabilities in its petition.  The Debtor
is represented by Kendra Loomis, Esq. at G A Carlo-Altieri &
Associates.  Jose M. Monge Robertin, CPA, serves as accountant.


BUILDERS GROUP: Monge Robertin Approved as Restructuring Advisor
----------------------------------------------------------------
The Hon. Enrique S. Lamoutte Inclan of the U.S. Bankruptcy Court
for the District of Puerto Rico authorized Builders Group &
Development Corp., to employ Monge Robertin & Asociados Inc. as
CPA/Insolvency and Restructuring Advisor.

To the best of the Debtor's knowledge the firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                       About Builders Group

Builders Group & Development Corp. owns and manages the Cupey
Professional Mall, a shopping center located in Cupey, Puerto
Rico.  The Company sought Chapter 11 protection (Bankr. D.P.R.
Case No. 13-04867) on June 12, 2013, in San Juan, Puerto Rico, its
home-town.  The company sought bankruptcy on the eve of a
foreclosure sale of its property.  The Debtor estimated at least
$10 million in assets and liabilities in its petition.  The Debtor
is represented by Kendra Loomis, Esq. at G A Carlo-Altieri &
Associates.  Jose M. Monge Robertin, CPA, serves as accountant.


C HACKETT: Case Summary & 11 Unsecured Creditors
------------------------------------------------
Debtor: C Hackett, Inc.
          dba C Hackett Chrysler Dodge Jeep & Ram
              C Hackett Auto Rental & Leasing
        400 Washington Street
        Newell, WV 26050

Bankruptcy Case No.: 13-23414

Chapter 11 Petition Date: August 14, 2013

Court: U.S. Bankruptcy Court
       Western District of Pennsylvania (Pittsburgh)

Judge: Thomas P. Agresti

Debtor's Counsel: Robert O. Lampl, Esq.
                  960 Penn Avenue, Suite 1200
                  Pittsburgh, PA 15222
                  Tel: (412) 392-0330
                  Fax: (412) 392-0335
                  E-mail: rol@lampllaw.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A copy of the Company's list of its 11 unsecured creditors filed
with the petition is available for free at:
http://bankrupt.com/misc/pawb13-23414.pdf

The petition was signed by Charles Hackett, principal.


CAMCO FINANCIAL: Files Form 10-Q, Incurs $6.1MM Net Loss in Q2
--------------------------------------------------------------
Camco Financial Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net earnings of $6.15 million on $6.88 million of total interest
and dividend income for the three months ended June 30, 2013, as
compared with net earnings of $482,000 on $7.93 million of total
interest and dividend income for the same period during the prior
year.

For the six months ended June 30, 2013, the Company posted net
earnings of $6.65 million on $13.74 million of total interest and
dividend income, as compared with net earnings of $895,000 on
$16.34 million of total interest and dividend income for the same
period a year ago.

As of June 30, 2013, the Company's balance sheet showed $756.77
million in total assets, $690.84 million in total liabilities and
$65.93 million in total stockholders' equity.

A copy of the Form 10-Q is available for free at:

                        http://is.gd/bJ2I0T

                        About Camco Financial

Cambridge, Ohio-based Camco Financial Corporation is a bank
holding company that was organized under Delaware law in 1970.
Camco is engaged in the financial services business in Ohio,
Kentucky and West Virginia, through its wholly-owned subsidiary,
Advantage Bank, an Ohio bank.  On March 31, 2011, Camco divested
activities related to Camco Title Agency and decertified as a
financial holding company.  Camco remains a bank holding company
and continues to be regulated by the Federal Reserve Board.

Plante & Moran PLLC, in Auburn Hills, Michigan, noted that the
Corporation's bank subsidiary is not in compliance with revised
minimum regulatory capital requirements under a formal regulatory
agreement with the banking regulators, and that failure to comply
with the regulatory agreement may result in additional regulatory
enforcement actions.

As discussed in Note K, Camco's wholly-owned subsidiary Advantage
Bank's Tier 1 capital does not meet the requirements set forth in
the 2012 Consent Order.  As a result, the Corporation will need to
increase capital levels.

The Corporation reported net earnings of $4.2 million on net
interest income (before provision for loan losses) of
$23.9 million in 2012, compared with net earnings of $214,000 on
net interest income of $214,000 on net interest income (before
provision for loan losses) of $25.9 million in 2011.


CAPITOL BANCORP: Court Clears Firm to Sell Stake in Ohio Bank
-------------------------------------------------------------
Patrick Fitzgerald writing for Daily Bankruptcy Review reports
that embattled bank-holding company Capitol Bancorp Ltd. won court
approval to sell its controlling stake in an Ohio community bank
to Amalgamated Bank of Chicago.

                       About Capitol Bancorp

Capitol Bancorp Ltd. and Financial Commerce Corporation filed
voluntary Chapter 11 bankruptcy petitions (Bankr. E.D. Mich. Case
Nos. 12-58409 and 12-58406) on Aug. 9, 2012.

Capitol Bancorp -- http://www.capitolbancorp.com/-- is a
community banking company with a network of individual banks and
bank operations in 10 states and total consolidated assets of
roughly $2.0 billion as of June 30, 2012.  CBC owns roughly 97% of
FCC, with a number of CBC affiliates owning the remainder.  FCC,
in turn, is the holding company for five of the banks in CBC's
network.  CBC is registered as a bank holding company under the
Bank Holding Company Act of 1956, as amended, 12 U.S.C. Sec. 1841,
et seq., and trades on the OTCQB under the symbol "CBCR."

Lawyers at Honigman Miller Schwartz and Cohn LLP represent the
Debtors as counsel.  John A. Simon, Esq., at Foley & Lardner LLP,
represents the Official Committee of Unsecured Creditors as
counsel.

In its petition, Capitol Bancorp scheduled $112,634,112 in total
assets and $195,644,527 in total liabilities.  The petitions were
signed by Cristin K. Reid, corporate president.

The Company's balance sheet at Sept. 30, 2012, showed
$1.749 billion in total assets, $1.891 billion in total
liabilities, and a stockholders' deficit of $141.8 million.

Prepetition, the Debtor arranged a reorganization plan that was
accepted by the requisite majorities of creditors and equity
holders in all classes.  Problems arose when affiliates of
Valstone Partners LLC declined to proceed with a tentative
agreement to fund the reorganization by paying $50 million for
common and preferred stock while buying $207 million in face
amount of defaulted commercial and residential mortgages.


CASCADE AG: Court Authorizes Asset Sale to Pleasant Valley
----------------------------------------------------------
The Hon. Karen A. Overstreet of the U.S. Bankruptcy Court for the
Western District of Washington authorized Cascade Ag Services,
Inc., to sell assets pursuant to the terms and conditions of an
asset purchase agreement, dated Aug. 2, 2013, with Pleasant Valley
Farms, LLC, formerly known as Triak Holdings, LLC.

As reported in the Troubled Company Reporter on July 17, 2013, the
Court approved bidding procedures governing the sale of all or
substantially all of the Debtor's assets.

Triak Holdings, the stalking horse bidder, was deemed a final
bidder.  One Pacific Coast Bank, Washington Federal and Columbia
State Bank, Skagit Farmers and RSF Mezzanine Fund also submitted
bids.

The stalking horse APA contemplated the purchase of substantially
all of the Debtor's assets for $3 million cash at closing.  The
stalking horse APA also contemplated the possible assumption by
the Debtor of certain executory contracts to be determined by the
stalking horse.

Secured creditors One Pacific Coast Bank, Columbia Bank and
Washington Federal agreed that they will not take any action and
forbear until Sept. 15, so that the Debtor and purchaser may close
on the transaction under the APA.

                         About Cascade AG

Cascade AG Services, Inc., dba Pleasant Valley Farms, fdba
Mountain View Produce, Inc., fdba Staffanson Harvesting LLC, fdba
Sterling Investment Group, L.L.C., is a vegetable processing
company that processes Washington-grown cucumbers and cabbage into
pickles and sauerkraut.

Cascade AG filed for Chapter 11 bankruptcy (Bankr. W.D. Wash. Case
No. 12-18366) on Aug. 13, 2012.  In amended schedules, the Debtor
disclosed $25,522,648 in assets and $21,354,742 in liabilities as
of the Chapter 11 filing.

Lawyers at Cairncross & Hempelmann PS, in Seattle, serve as the
Debtor's counsel.  Clyde A. Hamstreet & Associates, LLC, is the
Debtor's chief restructuring officer and financial advisor.  The
petition was signed by Craig Staffanson, president.

The U.S. Trustee appointed seven creditors to the Official
Unsecured Creditors' Committee.  Lawrence R. Ream, Esq., at
Schwabe, Williamson & Wyatt PC, Seattle, represents the Committee
as counsel.

DIP lender One PacificCoast Bank, FSB, is represented by Brad T.
Summers, Esq., and David W. Criswell, Esq.

The Plan filed in the Debtor's case contemplates a $3.0 million
capital infusion.  Money contributed to fund the Plan will be used
to satisfy Administrative Expense Claims to the extent that those
Claims must be satisfied for Confirmation, unless there is
agreement with Holders of Administrative Expense Claims to defer
payment.


CASCADE AG: Has Until Sept. 30 to Decide on Unexpired Leases
------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Washington
extended until Sept. 30, 2013, its time to assume or reject
certain unexpired leases of nonresidential real property.

This is the Debtor's fourth request for extension.  The Debtor
said the extension will minimize interruptions to its operations
during the upcoming sale process, and ensure that potential
purchasers of the Debtor's assets have the opportunity to value
and acquire the Debtor's assets as a going concern.  The extension
will also allow the Debtor time to assume and assign any leases --
to the extent such leases are assumable and assignable -- as part
of a sale.

                         About Cascade AG

Cascade AG Services, Inc., dba Pleasant Valley Farms, fdba
Mountain View Produce, Inc., fdba Staffanson Harvesting LLC, fdba
Sterling Investment Group, L.L.C., is a vegetable processing
company that processes Washington-grown cucumbers and cabbage into
pickles and sauerkraut.

Cascade AG filed for Chapter 11 bankruptcy (Bankr. W.D. Wash. Case
No. 12-18366) on Aug. 13, 2012.  In amended schedules, the Debtor
disclosed $25,522,648 in assets and $21,354,742 in liabilities as
of the Chapter 11 filing.

Lawyers at Cairncross & Hempelmann PS, in Seattle, serve as the
Debtor's counsel.  Clyde A. Hamstreet & Associates, LLC, is the
Debtor's chief restructuring officer and financial advisor.  The
petition was signed by Craig Staffanson, president.

The U.S. Trustee appointed seven creditors to the Official
Unsecured Creditors' Committee.  Lawrence R. Ream, Esq., at
Schwabe, Williamson & Wyatt PC, Seattle, represents the Committee
as counsel.

DIP lender One PacificCoast Bank, FSB, is represented by Brad T.
Summers, Esq., and David W. Criswell, Esq.

The Plan filed in the Debtor's case contemplates a $3.0 million
capital infusion.  Money contributed to fund the Plan will be used
to satisfy Administrative Expense Claims to the extent that those
Claims must be satisfied for Confirmation, unless there is
agreement with Holders of Administrative Expense Claims to defer
payment.


CENGAGE LEARNING: Creditors Seek to Probe LBO, Apax Debt Buys
-------------------------------------------------------------
Stephanie Gleason, writing for Daily Bankruptcy Review, reported
that a group of Cengage Learning Inc.'s creditors are seeking to
investigate the company's 2007 leveraged buyout by private equity
firm Apax Partners L.P. and debt acquisitions that took place
ahead of the textbook company's Chapter 11 filing, even as an
independent director looks into some of the same issues.

                      About Cengage Learning

Stamford, Connecticut-based Cengage Learning --
http://www.cengage.com/-- provides innovative teaching, learning
and research solutions for the academic, professional and library
markets worldwide.  Cengage Learning's brands include
Brooks/Cole, Course Technology, Delmar, Gale, Heinle, South
Western and Wadsworth, among others.  Apax Partners LLP bought
Cengage in 2007 from Thomson Reuters Corp. in a $7.75 billion
transaction.  The acquisition was funded in part with $5.6 billion
in new debt financing.

Cengage Learning Inc. filed a petition for Chapter 11
reorganization (Bankr. E.D.N.Y. Case No. 13-bk-44106) on July 2,
2013, in Brooklyn, New York, after signing an agreement where
holders of $2 billion in first-lien debt agree to support a
reorganization plan.  The plan will eliminate more than $4 billion
of $5.8 billion in debt.

First-lien lenders who signed the so-called plan-support agreement
include funds affiliated with BlackRock Inc., Franklin Mutual
Adviser LLC, KKR & Co. and Oaktree Capital Management LP.  Second-
lien creditors and holders of unsecured notes aren't part of the
agreement.

The Debtors have tapped Kirkland & Ellis LLP as counsel, Lazard
Freres & CO. LLC as financial advisor, Alvarez & Marsal North
America, LLC, as restructuring advisor, and Donlin, Recano &
Company, Inc., as claims and notice agent.

A nine-member official committee of unsecured creditors has been
appointed in the Debtors' Chapter 11 cases.


CENGAGE LEARNING: Chap. 11 Plan Filed
-------------------------------------
BankruptcyData reported that Cengage Learning filed with the U.S.
Bankruptcy Court a Chapter 11 Plan of Reorganization and related
Disclosure Statement.

According to the Disclosure Statement, "Among other things, the
Plan contemplates the following:

   * An approximate $4,300 million reduction of funded debt;

   * A de-leveraged post-reorganization capital structure
     consisting of (i) a new first-out revolving credit facility
     of no less than $250 million and up to $400 million to be
     raised from third-parties on market terms and (ii) $1.5
     billion first lien term loan facility (subject to the terms
     of the RSA);

   * Holders of First Lien Secured Claims will receive their pro
     rata share of (1) 100% of the equity in the reorganized
     Debtors less any amount of New Equity that is part of the
     Unsecured CLAI Recovery or the Unsecured CLI Recovery (and
     subject to dilution on account of the Management Incentive
     Plan), (2) the New Debt Facility Consideration, and (3) the
     Excess Cash;

   * Unsecured creditors (including the holders of first lien
     deficiency claims) (1) against CLAI will receive a
     distribution on account of that portion of the Disputed Cash
     determined by Final Order to be unencumbered and the CLA C.V.
     35% Equity, which shall be in the form of either: (a) Cash
     and/or New Equity in an amount to be determined by the
     Bankruptcy Court, which will be distributed on the Effective
     Date or adequately reserved for pursuant to a Final Order of
     the Bankruptcy Court or (b) interests in a Trust established
     on the Effective Date holding (i) Cash and/or New Equity in
     an amount to be determined by the Bankruptcy Court or (ii)
     the CLA C.V.35% Equity and Disputed Cash and (2) against CLI
     will receive a distribution on account of that portion of
     Disputed Copyrights determined by Final Order to be
     unencumbered and the Non-Wholly Owned Subsidiaries, which
     shall be in the form of either: (a) Cash and/or New Equity in
     an amount to be determined by the Bankruptcy Court, which
     will be distributed on the Effective Date or adequately
     reserved for pursuant to a Final Order of the Bankruptcy
     Court or (b) interests in a Trust established on the
     Effective Date holding (i) Cash and/or New Equity in an
     amount to be determined by the Bankruptcy Court or (ii) the
     Disputed Copyrights and the Non-Wholly Owned Subsidiaries,
     which distribution shall be made in accordance with a
     priority waterfall that shall take into account all
     applicable priority principles of the Bankruptcy Code and
     other applicable law, including but not limited to
     subordination provisions and provisions in intercreditor
     agreements;

   * The terms of certain post-reorganization governance rights
     applicable to the holders of new equity (including rights to
     nominate directors); and

   * The cancellation of existing equity interests other than to
     the extent necessary to preserve the general corporate
     structure of the Debtors; and Certain other customary terms
     and provisions."

Interested parties must submit ballots and/or objections for the
Plan by November 1, 2013; and the Court scheduled a November 8,
2013 hearing to consider the Plan.

                      About Cengage Learning

Stamford, Connecticut-based Cengage Learning --
http://www.cengage.com/-- provides innovative teaching, learning
and research solutions for the academic, professional and library
markets worldwide.  Cengage Learning's brands include
Brooks/Cole, Course Technology, Delmar, Gale, Heinle, South
Western and Wadsworth, among others.  Apax Partners LLP bought
Cengage in 2007 from Thomson Reuters Corp. in a $7.75 billion
transaction.  The acquisition was funded in part with $5.6 billion
in new debt financing.

Cengage Learning Inc. filed a petition for Chapter 11
reorganization (Bankr. E.D.N.Y. Case No. 13-bk-44106) on July 2,
2013, in Brooklyn, New York, after signing an agreement where
holders of $2 billion in first-lien debt agree to support a
reorganization plan.  The plan will eliminate more than $4 billion
of $5.8 billion in debt.

First-lien lenders who signed the so-called plan-support agreement
include funds affiliated with BlackRock Inc., Franklin Mutual
Adviser LLC, KKR & Co. and Oaktree Capital Management LP.  Second-
lien creditors and holders of unsecured notes aren't part of the
agreement.

The Debtors have tapped Kirkland & Ellis LLP as counsel, Lazard
Freres & CO. LLC as financial advisor, Alvarez & Marsal North
America, LLC, as restructuring advisor, and Donlin, Recano &
Company, Inc., as claims and notice agent.

A nine-member official committee of unsecured creditors has been
appointed in the Debtors' Chapter 11 cases.


CENGAGE LEARNING: Committee's Hiring Approvals Sought
-----------------------------------------------------
BankruptcyData reported that Cengage Learning's official committee
of unsecured creditors filed with the U.S. Bankruptcy Court
motions to retain:

   -- FTI Consulting (Contact: Samuel Star) as financial advisor
at the following hourly rates: senior managing director at $790 to
895; director/managing director at 570 to 755; consultant/senior
consultant at 290 to 540 and administrative, paraprofessional and
associate at 120 to 250; and

   -- Moelis & Company (Contact: William Q. Derrough) as
investment banker for a monthly fee of $150,000 and a
restructuring fee of $4 million payable upon consummation of any
restructuring.

                      About Cengage Learning

Stamford, Connecticut-based Cengage Learning --
http://www.cengage.com/-- provides innovative teaching, learning
and research solutions for the academic, professional and library
markets worldwide.  Cengage Learning's brands include
Brooks/Cole, Course Technology, Delmar, Gale, Heinle, South
Western and Wadsworth, among others.  Apax Partners LLP bought
Cengage in 2007 from Thomson Reuters Corp. in a $7.75 billion
transaction.  The acquisition was funded in part with $5.6 billion
in new debt financing.

Cengage Learning Inc. filed a petition for Chapter 11
reorganization (Bankr. E.D.N.Y. Case No. 13-bk-44106) on July 2,
2013, in Brooklyn, New York, after signing an agreement where
holders of $2 billion in first-lien debt agree to support a
reorganization plan.  The plan will eliminate more than $4 billion
of $5.8 billion in debt.

First-lien lenders who signed the so-called plan-support agreement
include funds affiliated with BlackRock Inc., Franklin Mutual
Adviser LLC, KKR & Co. and Oaktree Capital Management LP.  Second-
lien creditors and holders of unsecured notes aren't part of the
agreement.

The Debtors have tapped Kirkland & Ellis LLP as counsel, Lazard
Freres & CO. LLC as financial advisor, Alvarez & Marsal North
America, LLC, as restructuring advisor, and Donlin, Recano &
Company, Inc., as claims and notice agent.

A nine-member official committee of unsecured creditors has been
appointed in the Debtors' Chapter 11 cases.


CENTENE CORP: Moody's Affirms 'Ba2' Senior Debt; Outlook Stable
---------------------------------------------------------------
Moody's Investors Service has affirmed the debt ratings of Centene
Corporation (NYSE:CNC, senior debt at Ba2) and changed the outlook
on the ratings to stable from negative following its exit from its
Kentucky managed Medicaid contract on July 5, 2013.

The Baa2 insurance financial strength (IFS) ratings of the
company's operating subsidiaries were also affirmed, with the
outlook changed to stable from negative.

Rating Rationale:

Moody's stated the rating affirmation and change in outlook to
stable reflects Centene's exit from its Medicaid contract with the
Commonwealth of Kentucky, which had been incurring financial
losses. In addition, the rating agency commented that the rating
action reflects the company's improved profitability since 2012
resulting from additional Medicaid contracts implemented during
2012 and 2013, and significant rate increases obtained on some of
its existing Medicaid contracts.

According to Moody's, the Kentucky Medicaid contract had been a
drain on earnings, including a $41.5 million pre-tax premium
deficiency reserve established in 2012 to reflect anticipated
losses through the termination date of the contract in July, 2013.
However, Moody's Senior Vice President Steve Zaharuk said, "While
Centene has terminated its Medicaid contract with Kentucky, and is
only liable for run-out medical claims incurred on or before the
termination date, the company remains entangled in a legal dispute
with the Commonwealth, which may take several years to resolve and
could possibly result in a significant financial penalty." The
rating agency commented that given Centene's good capital and cash
flow, it should be able to manage a fairly sizeable penalty
without materially impacting the company's credit profile;
however, should the penalty exceed 15% of shareholders' equity
(i.e., above $170 million), there would be a negative credit
impact.

Moody's added that the rating affirmation also reflects new
contract wins for Centene in California, Florida, New Hampshire,
and Massachusetts; dual-eligible contracts in Ohio and Illinois;
and expansion contracts awarded in Ohio and Texas, which more than
offset the termination of the Kentucky contract. Zaharuk noted,
"As a result of the anticipated growth from these contracts, the
company's capital requirements will also grow; however, Moody's
anticipates that Centene will maintain the company's consolidated
NAIC Risk Based Capital (RBC) ratio at approximately 175% of
company action level (CAL), which is a key factor supporting the
company's ratings." While the company has expanded its revolving
credit facility to $500 million to provide additional financial
flexibility, the company has been able to meet its additional
capital needs to date through internal cash generation.

Moody's Ba2 senior debt rating for Centene is based primarily on
the company's concentration in the Medicaid market, acquisitive
nature, and moderate level of financial leverage, offset by its
multi-state presence, expansion into other healthcare product
opportunities, relatively stable financial profile and adequate
capitalization. The rating also reflects concerns with respect to
the level of reimbursements to Medicaid managed care companies as
states fall under budgetary and political pressures. According to
the rating agency, while rate increases have been under pressure
over the last two years, it appears that states have adhered to
actuarial valuations in determining reimbursement levels,
resulting in reasonable rate increases in most states. It should
also be noted that healthcare reform legislation, which will
increase the number of persons eligible for Medicaid, has
increased interest among states in Medicaid managed care options,
providing growth opportunities for Centene.

Moody's said that Centene's ratings could be upgraded if: 1)
EBITDA margins approach 4% on a consistent basis, 2) financial
leverage (debt to capital) is reduced to or below 30%, and 3) the
company successfully operates on the individual exchanges,
resulting in increased premium diversity. Moody's added that on
the other hand, the following could result in a rating downgrade:
1) loss or impairment of one or more additional Medicaid
contracts, 2), a loss or penalty associated with the exit from the
Kentucky Medicaid contract in excess of 15% of shareholders'
equity, 3) EBITDA interest coverage falling below 6x, or 4) Debt
to EBITDA ratio remaining above 3x.

The principal methodology used in rating Centene was Moody's
Rating Methodology for U.S. Health Insurers rating methodology
published in May 2011.

The following ratings were affirmed with the outlook changed to
stable from negative:

Centene Corporation -- senior unsecured debt rating at Ba2; senior
unsecured shelf debt rating at (P)Ba2; subordinated debt shelf
rating at (P)Ba3; corporate family rating at Ba2;

Managed Health Services Insurance Corp. -- insurance financial
strength rating at Baa2;

Peach State Health Plan, Inc. -- insurance financial strength
rating at Baa2;

Coordinated Care Corp. Indiana, Inc. -- insurance financial
strength rating at Baa2;

Superior HealthPlan, Inc. -- insurance financial strength rating
at Baa2.

Centene Corporation is headquartered in St. Louis, Missouri. For
the first six months of 2013 the company reported total revenues
of $5.4 billion with managed care membership as of June 30, 2013
of approximately 2.7 million. As of June 30, 2013 the company
reported shareholders' equity of approximately $1.1 billion.

Moody's insurance financial strength ratings (IFSR) are opinions
about the ability of insurance companies to punctually pay senior
policyholder claims and obligations.


COLEMAN CABLE: Performance Strengthens Amidst Copper Price Hike
---------------------------------------------------------------
Moody's Investors Service said that Coleman Cable's (B2 positive)
credit profile continues to strengthen despite a recent rally in
copper prices.

Headquartered in Waukegan, Illinois, Coleman Cable, Inc. is a
leading designer, developer, manufacturer and supplier of
electrical wire and cable products for consumer, commercial and
industrial applications, with operations primarily in the United
States. The company reported sales of $867 million for the fiscal-
year ended December 31, 2011.


COLOREP INC: Sept. 19 Auction of Substantially All Assets Approved
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
approved bidding procedures to govern the sale of substantially
all assets of Colorep, Inc., et al.

The Debtors intend to sell assets that comprise (a) substantially
all of the tangible and intangible personal property that is used
or useful in the operation of the Debtors' business; (b) real
estate owned by the Debtors; (c) certain executory contracts and
unexpired leases of the Debtors to be specified by the prevailing
bidder; (d) intellectual property, including patents, trademarks,
copyrights and related interests; (e) the equity securities held
by the Debtors in certain of their subsidiaries; (f) cash and
accounts receivables; and (g) such other property of the Sellers
designated by the buyer, provided however that cash and other
assets in an amount to be set forth in the APA of any prospective
bidder, will remain in the Debtors' estates to be used in
satisfaction of administrative expense claims and those amounts
determined necessary to cover the Debtors' wind-down expenses.

Pursuant to the bidding procedures, these schedules are set:

   Aug. 27              deadline of the Debtor to file and serve
                        their cure notice to the counterparties to
                        all executory contracts and unexpired
                        leases

   Sept. 18             deadline for objections to sale, cure cost
                        and assignment and assumption, adequate
                        assurance of future performance and
                        objections other than to the cure cost

   Sept. 19             date of auction at the offices of the
                        Debtors' counsel, Stutman, Treister &
                        Glatt, PC, 1901 Avenue of the Stars, 12th
                        Floor, Los Angeles, California, if the
                        Debtors receive more than one qualified
                        bid

   Sept. 24             deadline for objections to notice of
                        proposed assumption of leases and
                        executory contracts, and adequate
                        assurance of future performance

   Sept. 26             sale hearing

The bidding procedures also provides that the purchase price will
be the highest or best price and terms, determined at the
conclusion of the auction, by the Debtors, in consultation with
the Official Committee of Unsecured Creditors, if one is formed,
and Fuller Smith Capital Management LLC as DIP Agent, and FSCM and
Meserole, LLC in their capacities as debtor-in-possession lenders,
if the DIP Lenders are not a bidder at the auction.

All due diligence must be completed by an interested party prior
to its submission of a qualified bid in connection with the
auction.  Any party that wishes to conduct due diligence must
contact the Debtors' investment banker.

A copy of the sale bid procedures is available for free at
http://bankrupt.com/misc/COLOREPINC_sale_order.pdf

The Debtor has not signed an agreement with a stalking horse
bidder yet.

                        About Colorep Inc.

Colorep Inc., an industrial printer from Harrisonburg, Virginia,
filed for Chapter 11 protection (Bankr. C.D. Calif. Case No.
13-27689) on July 10 in Los Angeles, owing $17 million to secured
lender Meserole LLC.  The company licenses a fabric-dyeing
process known as AirDye.  Colorep's subsidiary Transprint USA Inc.
also filed in Chapter 11.  Transprint produces transfer-printing
paper.

Gary E. Klausner, Esq., at Stutman, Treister & Glatt Professional
Corporation, represents the Debtors in their restructuring effort.


COLOREP INC: Executive Sounding Board to Provide Crisis Management
------------------------------------------------------------------
Colorep, Inc., et al., ask the U.S. Bankruptcy Court for the
Central District of California to:

   -- approve the agreement with Executive Sounding Board
      Associates, Inc., to provide crisis management services and
      also to provide Robert D. Katz to serve as the Debtors'
      chief restructuring officer, well as any required additional
      temporary staff, including, but not limited to, Paul Newton;
      and

   -- authorize the appointment of Mr. Katz as CRO.

The Debtors have agreed to provide a postpetition retainer to ESBA
in the amount of $85,000 to be funded from the proceeds of the DIP
Financing Facility or cash collateral.

ESBA will have no obligations to represent the Debtors unless the
proposed postpetition retainer is promptly funded.

Mr. Katz and ESBA will, among other things:

   -- act as the CRO and as such ESBA will be appointed CRO and
      assume certain duties and responsibilities of the day to
      day management and operation of the Debtors' businesses,
      during their Chapter 11 cases, including responsibility
      for the Debtors' compliance with UST requirements and
      regulations;

   -- evaluate and develop alternative reorganization strategies;
      and

   -- working to improve the manufacturing process; enhancing
      throughput; and material utilization.

ESBA will be compensated on an hourly basis for fees incurred in
rendering services to the Debtors, and reimbursed for actual and
necessary expenses.  The hourly billing rate for Mr. Katz is $525
and the hourly billing rate for Mr. Newton will be $395, which
amounts represent reductions of their normal hourly rates and in
consideration of this engagement.  In the unlikely event that Mr.
Newton works more than 40 hours per week, ESBA has agreed to cap
Mr. Newton's fees at $15,000 per week.  As an alternative and at
ESBA's sole discretion, ESBA would cap Mr. Newton's fees at
$12,500 per week with a $200,000 "success fee" to be paid by
prepetition lender Meserole LLC upon completion of a
reorganization under Chapter 11 of the Bankruptcy Code or a
Section 363 sale.  If the election is made, the ESBA Agreement
provides that the terms and conditions of the success fee will be
formalized in a written addendum to the ESBA Agreement.

To the extent they are not performing other billable work while
traveling, travel time for ESBA consultants will be billed at 1/4
their normal hourly rate.

If other consultants from ESBA be needed, their rates will be
billed between $295 and $480 per hour and will be approved by the
Debtors' boards of director in advance.

If the engagement lasts more than six months, ESBA has reserved
the right to increase the hourly fee rates charged, upon prior
written notice.

ESBA was given a $30,000 retainer to secure payment of its fees
and expenses in the prepetition period.

Additionally, the Debtors have agreed that ESBA will be given the
proposed postpetition retainer in the amount of $85,000, which
will be funded from the first funds available under the
DIP Financing Facility.

To the best of the Debtors' knowledge, ESBA, nor any of its
principals, employees, agents or affiliates holds or represents an
interest materially adverse to the Debtors' estates.

ESBA may be reached at:

          Robert D Katz, CTP MBA CPA
          Managing Director
          EXECUTIVE SOUNDING BOARD ASSOCIATES INC
          1500 John F. Kennedy Boulevard, Suite 1730
          Philadelphia, PA  19102
          Tel: (215) 568-5788
          Fax: (215) 568-5769
          E-mail: rdkatz@esba.com

                        About Colorep Inc.

Colorep Inc., an industrial printer from Harrisonburg, Virginia,
filed for Chapter 11 protection (Bankr. C.D. Calif. Case No.
13-27689) on July 10 in Los Angeles, owing $17 million to secured
lender Meserole LLC.  The company licenses a fabric-dyeing
process known as AirDye.  Colorep's subsidiary Transprint USA Inc.
also filed in Chapter 11.  Transprint produces transfer-printing
paper.

Gary E. Klausner, Esq., at Stutman, Treister & Glatt Professional
Corporation, represents the Debtors in their restructuring effort.


COLOREP INC: Taps Stubbs Alderton as Special Corporate Counsel
--------------------------------------------------------------
Colorep, Inc., et al., ask the U.S. Bankruptcy Court for the
Central District of California for permission to employ Stubbs,
Alderton & Markiles, LLP as their special corporate counsel.

Stubbs has worked with the Debtors on transactional and corporate
governance matters since June 2013.  Past services have included
advice with respect to the Debtors' organizational documents as
they relate to the Debtors' pending bankruptcy proceedings; and on
various state and federal WARN Act matters in connection with
termination of employees.

The Debtors wish to employ Jonathan Hodes, Joe Stubbs, Jason Lee,
and other members, associates and of-counsel attorneys of Stubbs
as the Debtors' special counsel in connection with the cases,
effective as of the Petition Date.

The Debtors require special corporate counsel to render the
professional services:

   a. providing general corporate advice to the Debtors and
      their boards of directors, including any special committees
      formed, related to governance and operations.

   b. attending any board of director or special committee
      meetings, as requested by the Debtors.

   c. analyzing and drafting agreements required in connection
      with the sale of the Debtors' assets, including making
      sure that any subject transactions conform with applicable
      nonbankruptcy law.

   d. preparing contracts or agreements related to the governance
      or operations of the Debtors.

Stubbs will not be responsible for matters of bankruptcy law,
including general representation of the Debtors in the cases, as
the Debtors have already retained reorganization counsel for such
purposes, specifically the firm of Stutman, Treister & Glatt
Professional Corporation.

On July 15, 2013, Stubbs received a $10,000 postpetition retainer
to secure the payment of a portion of Stubbs' fees and expenses.
The Chapter 11 Retainer was funded from the distribution made by
Meserole, LLC under the postpetition financing approved on an
interim basis by the Court on July 18, 2013.

Jonathan R. Hodes, Esq., principal at Stubbs, assures the Court
that Stubbs neither holds nor represents any interest materially
adverse to the interests of the Debtors' estates.  He may be
reached at:

          Jonathan R. Hodes, Esq.
          STUBBS ALDERTON & MARKILES, LLP
          15260 Ventura Blvd., 20th FL
          Sherman Oaks, CA  91403
          Tel: (818) 444-4508
               (818) 444-6308
          E-mail: jhodes@stubbsalderton.com

                        About Colorep Inc.

Colorep Inc., an industrial printer from Harrisonburg, Virginia,
filed for Chapter 11 protection (Bankr. C.D. Calif. Case No.
13-27689) on July 10 in Los Angeles, owing $17 million to secured
lender Meserole LLC.  The company licenses a fabric-dyeing
process known as AirDye.  Colorep's subsidiary Transprint USA Inc.
also filed in Chapter 11.  Transprint produces transfer-printing
paper.

Gary E. Klausner, Esq., at Stutman, Treister & Glatt Professional
Corporation, represents the Debtors in their restructuring effort.


COLOREP INC: Hiring Stutman Treister as Reorganization Counsel
--------------------------------------------------------------
Colorep, Inc., et al., ask the U.S. Bankruptcy Court for the
Central District of California for permission to employ Stutman,
Treister & Glatt Professional Corporation as reorganization
counsel.

The Debtors have agreed to provide a postpetition retainer to
Stutman Treister in the amount of $125,000 to be funded from
disbursements pursuant to the Debtors under the proposed DIP
financing which is currently being presented to the court.

Prior to the Petition Date, Stutman Treister received a retainer,
paid from the monies advanced to the Debtors by its prepetition
secured lender, in the amount of $150,000 for services rendered
and expenses incurred prior to the filing of the Debtors'
chapter 11 cases.  Prior to the commencement of these Chapter 11
cases, Stutman Treister drew down $150,000 from the Pre-Chapter 11
Retainer for prepetition services rendered to the Debtors.  The
Debtors do not owe Stutman Treister any amount for prepetition
services.

In addition to the Chapter 11 Retainer, Stutman Treister also
received, from funds advanced by the Debtors' prepetition secured
lender, $10,000 to be held in trust and to be paid as a retainer
to the Debtors' corporate counsel if and when retained and $25,000
to cover filing fees and other expenses incurred in connection
with the Debtors' chapter 11 cases.

Gary E. Klaus, senior shareholder at Stutman Treister, assures the
Court that Stutman Treister does not hold or represent an interest
adverse to the Debtors' estates.

                        About Colorep Inc.

Colorep Inc., an industrial printer from Harrisonburg, Virginia,
filed for Chapter 11 protection (Bankr. C.D. Calif. Case No.
13-27689) on July 10 in Los Angeles, owing $17 million to secured
lender Meserole LLC.  The company licenses a fabric-dyeing
process known as AirDye.  Colorep's subsidiary Transprint USA Inc.
also filed in Chapter 11.  Transprint produces transfer-printing
paper.

Gary E. Klausner, Esq., at Stutman, Treister & Glatt Professional
Corporation, represents the Debtors in their Restructuring effort.


COMMUNITYONE BANCORP: Second Quarter Financial Presentation
-----------------------------------------------------------
CommunityOne Bancorp posted its second quarter 2013 financial
presentation on the Investor Relations section of its Web site,
www.community1.com

CommunityOne Bancorp disclosed a net loss of $3.18 million on
$18.13 million of total interest income for the three months ended
June 30, 2013, as compared with a net loss of $18.13 million on
$20.43 million of total interest income for the same period a year
ago.

For the six months ended June 30, 2013, the Company incurred a net
loss of $7.77 million on $36.20 million of total interest income,
as compared with a net loss of $28.99 million on $40.42 million of
total interest income for the same period during the prior year.

FNB United incurred a net loss of $40 million in 2012, a net loss
of $137.31 in 2011, and a net loss of $131.82 million in 2010.

As of June 30, 2013, the Company had $2.03 billion in total
assets, $1.96 billion in total liabilities and $76.04 million in
total shareholders' equity.

A copy of the Financial Presentation is available for free at:

                        http://is.gd/6hrE8O

                         About CommunityOne

CommunityOne Bancorp (formerly FNB United) is the North Carolina-
based bank holding company for CommunityOne Bank, N.A.
(community1.com), which offers a full range of consumer, mortgage
and business banking services, including loan, deposit, cash
management, wealth and online banking services through 55 branches
in 44 communities throughout the central, southern and western
regions of the state.


COMPETITIVE TECHNOLOGIES: Tonaquint Had 6% Equity Stake at Aug. 9
-----------------------------------------------------------------
In a Schedule 13G filing with the U.S. Securities and Exchange
Commission, Tonaquint, Inc., and its affiliates disclosed that as
of Aug. 9, 2013, they beneficially owned 1,061,226 shares of
common stock of Competitive Technologies, Inc., representing 6.49
percent of the shares outstanding.  A copy of the regulatory
filing is available for free at http://is.gd/4I1vkG

                   About Competitive Technologies

Fairfield, Conn.-based Competitive Technologies, Inc. (OTC QX:
CTTC) -- http://www.competitivetech.net/-- was established in
1968.  The Company provides distribution, patent and technology
transfer, sales and licensing services focused on the needs of its
customers and matching those requirements with commercially viable
product or technology solutions.  Sales of the Company's
Calmare(R) pain therapy medical device continue to be the major
source of revenue for the Company.

Competitive Technologies incurred a net loss of $3 million on
$546,139 of gross profit from product sales in 2012, as compared
with a net loss of $3.59 million on $1.86 million of gross profit
from product sales in 2011.  As of March 31, 2013, the Company had
$4.60 million in total assets, $9.25 million in total liabilities
and a $4.64 million total shareholders' deficit.

Mayer Hoffman McCann CPAs (The New York Practice of Mayer Hoffman
McCann P.C.), in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2012.  The independent auditors noted that at Dec. 31,
2012, the Company has incurred operating losses since fiscal year
2006.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


CONNACHER OIL: S&P Lowers Corporate Credit Rating to 'CCC+'
-----------------------------------------------------------
Standard & Poor's Rating Services said it lowered its long-term
corporate credit rating on Calgary, Alta.-based Connacher Oil and
Gas Ltd. to 'CCC+' from 'B-'.  The outlook is stable.  At the same
time, Standard & Poor's lowered its issue-level rating on the
company's second lien US$550 million and C$350 million debt issues
to 'B' from 'B+'.  The '1' recovery rating on the second lien debt
is unchanged.

"The downgrade reflects our view that the company's persistently
high cost structure, limited cash flow generation, and inability
to exploit the organic growth potential inherent in its in-situ
oil sands resource base are characteristic of the 'CCC+' rating,"
said Standard & Poor's credit analyst Michelle Dathorne.
"Nevertheless, we believe the company's existing liquidity, which
the 2012 disposition of its conventional oil and gas assets and
Montana refinery has bolstered, should remain adequate to fund its
expected spending throughout our forecast period.  The strength of
Connacher's liquidity is a material factor supporting the stable
outlook," Ms. Dathorne added.

The ratings reflect S&P's view of Connacher's very high cost
structure, limited internal cash flow generation, and inability to
exploit the organic growth potential inherent in its in-situ oil
sands resource base, and very high balance sheet leverage.  S&P
believes the size and quality of the company's reserves base and
liquidity position offset these factors.

Connacher is an oil sands-focused exploration and production
company producing bitumen using steam-assisted gravity drainage
(SAGD) technology.  It holds a 100% interest in approximately
98,000 acres of oil sands leases in the Great Divide region near
Fort McMurray, Alta.  The company's first 10,000 barrel-per-day
(bbl/d) SAGD oil sands project (Pod I) commenced commercial
production in March 2008, and its second 10,000 bbl/d SAGD project
(Algar) began producing in August 2010.

The stable outlook reflects Standard & Poor's expectation that
Connacher should be able to generate sufficient funds from
operations (FFO) to sustain its oil sands bitumen production at a
minimum of 65% of its total design capacity (or 13,000 bbl/d)
throughout our 2014-2015 forecast period.  Although S&P believes
the company's current production capacity is below the minimum
threshold where economies of scale could be realized, in S&P's
opinion, Connacher should be able to generate sufficient FFO,
under S&P's current hydrocarbon price assumptions, to fund its
minimum maintenance capital spending.  S&P believes the company
should continue to generate marginal positive free operating cash
flow throughout our forecast period, but its high full-cycle cost
profile, weak cash flow protection metrics, and highly leveraged
balance sheet will likely continue to constrain its overall credit
profile.

If Connacher's liquidity position deteriorates and becomes less
than adequate, whereby its total liquidity sources represents less
than 1.2x of total anticipated uses of liquidity, S&P would lower
the ratings.  This would occur if the company's spending
materially outpaces S&P's current capital expenditure estimates
during its forecast period, such that it generates negative free
operating cash flow.

S&P do not believe Connacher's current SAGD operations, with its
total 20,000 bbl/d design capacity, will generate sufficient
internal cash flow to fund organic growth, so the company will
need to secure significant external equity funding to improve its
capital structure and expand its SAGD operations.  Although
Connacher is no longer actively pursuing a joint venture or
strategic partner to manage its oil sands operations, a positive
rating action remains contingent on the company's ability to
complete a transformative transaction.


CORNERSONE BANCOR: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Cornersone Bancor Mortgage Corp.
        85 Shinnecock Avenue
        Massapequa, NY 11758

Bankruptcy Case No.: 13-74205

Chapter 11 Petition Date: August 14, 2013

Court: U.S. Bankruptcy Court
       Eastern District of New York (Central Islip)

Judge: Alan S. Trust

Debtor's Counsel: Gary C. Fischoff, Esq.
                  BERGER, FISCHOFF & SHUMER, LLP
                  40 Crossways Park Drive
                  Woodbury, NY 11797
                  Tel: (516) 747-1136
                  E-mail: gfischoff@sfbblaw.com

Scheduled Assets: $576,800

Scheduled Liabilities: $1,229,593

The Company's list of its largest unsecured creditors filed with
the petition does not contain any entry.

The petition was signed by Mathew Sutphen, president.

Mr. Sutphen himself sought bankruptcy protection on March 25, 2013
(Case No. 13-71506).


DBK INVESTMENTS: Court Approves John Smith as Accountants
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of West
Virginia authorized DBK Investments & Development Corporation to
employ John Smith and Smith & Company as its accountant.

Smith & Company will render, prepare, and file the Debtor's income
tax returns, operating results, quarterly reports and monthly tax
reports, and all of the bookkeeping services required by the
Court.

The Debtor will pay Smith & Company $150 per hour for senior staff
and $75 per hour for mid-level staff.

To the best of the Debtor's knowledge, Smith & Company is a
disinterested person as that term is defined in 11 U.S.C. Section
101(13).

         About DBK Investments & Development Corporation

Bettye J. Morehead, Brown, Edwards & Co., and Smith & Co. filed on
April 1, 2013, an involuntary Chapter 11 petition (Bankr. S.D.
W.V. Case No. 13-50063) against Beckley, West Virginia-based DBK
Investments & Development Corporation, dba Americas Best Value
Inn, fka Best Western.  Judge Ronald G. Pearson presides over the
case.  The Petitioners are represented by Joe M. Supple, Esq., at
Supple Law Office, PLLC.

The Bankruptcy Court entered a default order for relief on May 1,
2013.  The Debtor failed to file any timely pleading or defense to
the petition as required by the Bankruptcy Rule 1013(b).

Judy A. Robbins, the U.S. Trustee for Region 4, has informed the
Bankruptcy Court that she was unable to appoint a committee of
unsecured creditors in the case.


DESIGNLINE INT'L: Files for Bankruptcy
--------------------------------------
The Associated Press reported that a Charlotte-based manufacturer
of hybrid and electric buses has filed for bankruptcy protection
following several weeks of furloughs and layoffs.

According to the report, federal court documents show DesignLine
has assets of $14 million and debts of $37.5 million.

DesignLine is the former employer of U.S. Transportation Secretary
Anthony Foxx, who was Charlotte's mayor until the Senate confirmed
President Obama's nominee in June, the report said.  Foxx made
$88,000 a year as deputy general counsel, a job he had throughout
his tenure as mayor.

The company's largest creditor is New Jersey Transit, which has
paid $3.6 million for buses it hasn't received, the report
related.

DesignLine was founded in New Zealand but moved its headquarters
to Charlotte in 2006, the report said.  The company employed about
250 people there earlier this year.


DETROIT, MI: Objections Filed on Chapter 9 Eligibility
------------------------------------------------------
Nathan Bomey, writing for the Detroit Free Press, reports that
dozens of creditors, unions and retiree groups objected to
Detroit's eligibility to file for Chapter 9 bankruptcy.  Those
objections were due Monday.

According to Free Press, the objections, which were widely
expected and numbered nearly 100 by 7 p.m., attacked Detroit's
financial standing, its legal authority to file for bankruptcy and
the process leading up to its July 18 filing.  Several objectors
said the city is not eligible for bankruptcy because Detroit
emergency manager Kevyn Orr plans to pursue reduced pension
payments during the bankruptcy.  The objectors included:

     -- Detroit's largest union, the Michigan chapter of the
        American Federation of State, County & Municipal
        Employees,

     -- The Retired Detroit Police & Fire Fighters Association
        and the Detroit Retired City Employees Association,
        which collectively represent about 70% of the city's
        approximately 21,000 retirees, and

     -- individual retirees.

The report relates U.S. Bankruptcy Judge Steven Rhodes plans to
hold a trial Oct. 23 to hear arguments about whether the city has
a right to file for bankruptcy.

                    Constitutional Grounds

Bernie Woodall, writing for Reuters, reported that Detroit's two
public pension funds will file an objection to the city's
bankruptcy filing on Michigan constitutional grounds, a
representative of the pension boards said.

According to the report, the challenge expected from the pension
funds is the first to emerge from among several parties likely to
object to the city of Detroit's claim that it is bankrupt.

For Detroit's Chapter 9 bankruptcy to proceed U.S. Bankruptcy
Judge Steven Rhodes, who is overseeing the case, must first find
the city has proved it is insolvent and negotiated in good faith
with its creditors, or that there were too many creditors to make
negotiation feasible, the report noted.

In a court filing earlier this month, Detroit released a list of
creditors, including current, former and retired workers, that
filled 3,504 pages, the report said.  If Detroit is ultimately
deemed eligible for municipal bankruptcy, it would be the biggest
such case in U.S. history.

The city's two pension boards will claim that Michigan Governor
Rick Snyder violated the state's Constitution when he allowed
Detroit's state-appointed emergency manager, Kevyn Orr, to make
the bankruptcy filing, the report added.

                     About Detroit, Michigan

The city of Detroit, Michigan, weighed down by more than
$18 billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter 9
petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit listed
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by
lawyers at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The city's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

Detroit is represented by David G. Heiman, Esq., and Heather
Lennox, Esq., at Jones Day, in Cleveland, Ohio; Bruce Bennett,
Esq., at Jones Day, in Los Angeles, California; and Jonathan S.
Green, Esq., and Stephen S. LaPlante, Esq., at Miller Canfield
Paddock and Stone PLC, in Detroit, Michigan.

Sharon Levine, Esq., at Lowenstein Sandler LLP, is representing
the American Federation of State, County and Municipal Employees
and the International Union.

Babette Ceccotti, Esq., at Cohen, Weiss & Simon LLP, is
representing the United Automobile, Aerospace and Agricultural
Implement Workers of America.


DETROIT, MI: City, Pension Fund Reps Met Monday
-----------------------------------------------
Alisa Priddle, writing for the Detroit Free Press, reports that
legal and financial representatives of the city of Detroit and its
two pension systems -- the Police and Fire Retirement System and
the General Retirement System -- held a 3-hour meeting Monday to
discuss the city's underfunded pensions.  According to the Free
Press, the meeting "is being described as the first real effort by
both sides to put their data on the table and start haggling over
discrepancies in how underfunded the systems are."

The report notes the Police and Fire Retirement System and the
General Retirement System have stated through their actuaries that
they are underfunded by $640 million; emergency manager Kevyn
Orr's team has found the number to be closer to $3.5 billion.
According to Free Press, attorneys, restructuring professionals
and actuaries from the city's Emergency Manager's Office and the
two independent retirement systems spent Monday afternoon
comparing figures.

According to the report, Detroit is currently relying on a June 4
report it commissioned from the Milliman accounting firm.  Mr. Orr
spokesman Bill Nowling said a more comprehensive Milliman report
is in the works. Initially, the city hoped it would be ready this
week but mr. Nowling said Monday that a few more weeks of work are
required to complete it.

A copy of the General Retirement System pension report is
available at http://www.freep.com/assets/freep/pdf/C4210423816.PDF
from the Free Press.

A copy of the Police and Fire Retirement System pension report is
available at http://www.freep.com/assets/freep/pdf/C4210424816.PDF
from the Free Press.

Law360 reported that a Michigan federal judge involved in
Detroit's insolvency proceedings ordered the city and several
unions into mediation in order to sort out the renegotiation of
collective bargaining agreements.

According to the report, U.S. District Judge Gerald E. Rosen, who
was named as the mediator in the case days earlier, directed the
city, two of its retirement funds and multiple unions including
the American Federation of State, County, and Municipal Employees,
the city's police and fire unions and the United Auto Workers to
attend an initial mediation session in September.

                     About Detroit, Michigan

The city of Detroit, Michigan, weighed down by more than
$18 billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter 9
petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit listed
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by
lawyers at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The city's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

Detroit is represented by David G. Heiman, Esq., and Heather
Lennox, Esq., at Jones Day, in Cleveland, Ohio; Bruce Bennett,
Esq., at Jones Day, in Los Angeles, California; and Jonathan S.
Green, Esq., and Stephen S. LaPlante, Esq., at Miller Canfield
Paddock and Stone PLC, in Detroit, Michigan.

Sharon Levine, Esq., at Lowenstein Sandler LLP, is representing
the American Federation of State, County and Municipal Employees
and the International Union.

Babette Ceccotti, Esq., at Cohen, Weiss & Simon LLP, is
representing the United Automobile, Aerospace and Agricultural
Implement Workers of America.


DETROIT, MI: Robert Fishman Appointed as Fee Examiner
-----------------------------------------------------
Nathan Bomey, writing for the Detroit Free Press, reports that
Bankruptcy Judge Steven Rhodes appointed Robert M. Fishman, Esq.
-- rfishman@shawfishman.com -- of Chicago-based firm Shaw Fishman
Glantz and Towbin as fee examiner to monitor legal bills in
Detroit's Chapter 9 bankruptcy.  Mr. Fishman is tasked to ensure
the city's legal fees and consulting bills don't become
exorbitant.  Mr. Fishman also will be charged with making sure the
fees are public information.

Mr. Fishman's hourly rate will be $600 an hour.  That's a discount
from his typical hourly rate, which is $675, according to the Free
Press.

                    Kapila & Co. on Board Too

According to the report, Mr. Fishman can also contract Ft.
Lauderdaule, Fla.-based accounting firm Soneet R. Kapila and
Kapila & Co. to help monitor fees.

The report notes Judge Rhodes capped the average rate of Fishman
attorneys and staff who will work on Detroit's case at $430 per
hour.  He capped the average rate of Kapila associates who will
work on the Detroit case at $300 per hour.

Free Press says some observers expected Judge Rhodes to appoint
law firm Godfrey & Kahn, which served as fee examiner in General
Motors' Chapter 11 bankruptcy and expressed interest in the
Detroit case.  Professional fees topped $120 million in GM's
bankruptcy.

Free Press relates Mr. Fishman, 59, a native of Bloomington, Ill.,
has been in private practice since 1980.  He served as mediator in
several cases, including the Chapter 11 bankruptcies of Lauth
Investment Properties.  A George Washington University law
graduate, he is a past chairman and president of the American
Bankruptcy Institute.

He could not be reached for comment, according to Free Press.

According to the report, Judge Rhodes scheduled a Sept. 10 hearing
on a proposed order requiring attorneys and consultants to file
monthly invoices with the fee examiner, who would be required to
file a report on his findings at least once every three months. If
he believes fees are too high, Fishman could recommend a hearing
before Judge Rhodes.

                        Jones Day Write Off

According to the Free Press, experts have estimated that Detroit's
legal fees could top $100 million if the case drags out.  The
report notes the city's main bankruptcy firm, Jones Day, has
already written off millions in bills it does not expect to be
paid, officials said.  Hourly fees for Jones Day bankruptcy
attorneys range from about $425 to more than $1,000, according to
the firm's contract with the city.

                     About Detroit, Michigan

The city of Detroit, Michigan, weighed down by more than
$18 billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter 9
petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit listed
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by
lawyers at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The city's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

Detroit is represented by David G. Heiman, Esq., and Heather
Lennox, Esq., at Jones Day, in Cleveland, Ohio; Bruce Bennett,
Esq., at Jones Day, in Los Angeles, California; and Jonathan S.
Green, Esq., and Stephen S. LaPlante, Esq., at Miller Canfield
Paddock and Stone PLC, in Detroit, Michigan.

Sharon Levine, Esq., at Lowenstein Sandler LLP, is representing
the American Federation of State, County and Municipal Employees
and the International Union.

Babette Ceccotti, Esq., at Cohen, Weiss & Simon LLP, is
representing the United Automobile, Aerospace and Agricultural
Implement Workers of America.


DETROIT, MI: Bond Insurer Protests Casino Revenue Protections
-------------------------------------------------------------
Katy Stech, writing for Daily Bankruptcy Review, reported that the
bond insurer caught up in the battle over Detroit's casino tax
revenue has asked the city's bankruptcy judge to throw out a
restraining order that's keeping millions of dollars flowing to
the city.

                      About Detroit, Michigan

The city of Detroit, Michigan, weighed down by more than $18
billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter
9 petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit listed
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by
lawyers at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The city's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

The Debtor is represented by David G. Heiman, Esq., and Heather
Lennox, Esq., at Jones Day, in Cleveland, Ohio; Bruce Bennett,
Esq., at Jones Day, in Los Angeles, California; and Jonathan S.
Green, Esq., and Stephen S. LaPlante, Esq., at Miller Canfield
Paddock and Stone PLC, in Detroit, Michigan.


DETROIT, MI: Pension Funds to Object to City's Bankruptcy
---------------------------------------------------------
Bernie Woodall, writing for Reuters, reported that Detroit's two
public pension funds will file an objection to the city's
bankruptcy filing on Michigan constitutional grounds, a
representative of the pension boards said.

According to the report, the challenge expected from the pension
funds is the first to emerge from among several parties likely to
object to the city of Detroit's claim that it is bankrupt.

For Detroit's Chapter 9 bankruptcy to proceed U.S. Bankruptcy
Judge Steven Rhodes, who is overseeing the case, must first find
the city has proved it is insolvent and negotiated in good faith
with its creditors, or that there were too many creditors to make
negotiation feasible, the report noted.

In a court filing earlier this month, Detroit released a list of
creditors, including current, former and retired workers, that
filled 3,504 pages, the report said.  If Detroit is ultimately
deemed eligible for municipal bankruptcy, it would be the biggest
such case in U.S. history.

The city's two pension boards will claim that Michigan Governor
Rick Snyder violated the state's Constitution when he allowed
Detroit's state-appointed emergency manager, Kevyn Orr, to make
the bankruptcy filing, the report added.

                      About Detroit, Michigan

The city of Detroit, Michigan, weighed down by more than $18
billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter
9 petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit listed
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by
lawyers at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The city's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

The Debtor is represented by David G. Heiman, Esq., and Heather
Lennox, Esq., at Jones Day, in Cleveland, Ohio; Bruce Bennett,
Esq., at Jones Day, in Los Angeles, California; and Jonathan S.
Green, Esq., and Stephen S. LaPlante, Esq., at Miller Canfield
Paddock and Stone PLC, in Detroit, Michigan.


DIGERATI TECHNOLOGIES: Files Motion in Limine in Case Transfer Bid
------------------------------------------------------------------
Digerati Technologies, Inc., filed a motion in limine asking the
U.S. Bankruptcy Court for the Southern District of Texas, Houston
Division, to strike and prohibit the use of Rhodes Holdings, LLC's
designation of the June 12, 2013 hearing transcript from Adversary
Proceeding Case No. 13-03121 and the June 21, 2013, hearing
transcript from the Case No. 2013-CI-02253 pending before the
Bexar County District.

To recall, Rhodes Holdings filed a motion to transfer venue.
Prior to filing the Motion to Transfer Venue, Rhodes Holdings
filed pleadings seeking the Court's ruling on an emergency motion
to remand in AP Case No. 13-03121.  The case was transferred by
Court Order to the Southern District of Texas.  Rhodes Holdings
never sought reconsideration of the ordering transferring the
adversary to the Southern District of Texas.  Rhodes Holdings then
appealed the ruling on its Motion to the Southern District of
Texas.  The hearing on the Motion for Remand was held and a ruling
was issued, incorporating the oral ruling given during the
hearing.

According to Deirdre Carey Brown, Esq., at Hoover Slovacek LLP, in
Houston, Texas, it appears that Rhodes Holding is deliberately
making misrepresentations to the Debtor to shut the Debtor out of
the Bexar County proceedings to improperly use the proceeding for
a fishing expedition without the Debtor being a party to defend or
object.

Rhodes Holdings seeks to designate the transcripts under Rule
32(a)(3) of the Federal Rules of Civil Procedure and (a)(6).  Rule
32 relates to deposition transcripts not hearing transcripts, Ms.
Brown asserts.  Rhodes Holdings cites to no caselaw that makes
Rule 32 applicable to testimony from a court hearing where the
Debtor was not a party, Ms. Brown argues.

The Debtor is also represented by Edward L. Rothberg, Esq.,
Melissa A. Haselden, Esq., Mazelle S. Krasoff, Esq., at HOOVER
SLOVACEK LLP, in Houston, Texas.

                    About Digerati Technologies

Digerati Technologies, Inc., filed a Chapter 11 petition (Bankr.
S.D. Tex. Case No. 13-33264) in Houston, on May 30, 2013.
Digerati -- http://www.digerati-inc.com-- is a diversified
holding company which owns operating subsidiaries in the oil field
services and the cloud communications industry.  Digerati and its
subsidiaries maintain Texas Offices in San Antonio and Houston.
The Debtor has no independent operations apart from its
subsidiaries.

The Debtor's subsidiaries include Shift 8 Networks, a cloud
communication service, Hurley Enterprises, Inc., and Dishon
Disposal, Inc., both oil field services companies.

The Debtor disclosed $60 million in assets and $62.5 million in
liabilities as of May 29, 2013.

Bankruptcy Judge Jeff Bohm oversees the case.  Deirdre Carey
Brown, Esq., Annie E. Catmull, Esq., Melissa Anne Haselden, Esq.,
Mazelle Sara Krasoff, Esq., and Edward L Rothberg, at Hoover
Slovacek, LLP, in Houston, represent the Debtor as counsel.  The
Debtor tapped Gilbert A. Herrera and Herrera Partners as the
investment banker.


DIGITAL GENERATION: Moody's Lowers CFR & Senior Debt Rating to B2
-----------------------------------------------------------------
Moody's Investors Service has downgraded Digital Generation,
Inc.'s Corporate Family Rating to B2, Probability of Default
Rating to B3-PD and senior secured debt ratings to B2. The rating
outlook is changed to developing from stable.

Moody's notes that this rating action is not being triggered by
DG's announcement on August 12, 2013 that it has entered into an
agreement to sell its television business to Extreme Reach, Inc.,
a cross-media video advertising management platform, for $485
million. Rather, the rating revision reflects Moody's view that
although DG's operating performance has recently improved, it
remains below Moody's expectations, which were set in July 2011
when the CFR was initially assigned, and will continue to face
earnings pressure over the near-term. Since Moody's does not
expect the transaction to close until fiscal 2014, the rating also
incorporates the possibility of delays in obtaining shareholder
and regulatory approvals or from submission of competing bids that
may arise. The developing outlook reflects uncertainties
surrounding the timing of the transaction.

Proceeds from the asset sale will be used to retire the term loan
($395 million outstanding) and distribute $3 per share to DG's
shareholders (roughly $83.3 million). Shareholders will also own
100% of the equity of the remaining standalone online advertising
business. The transaction, which is subject to shareholder and
regulatory approvals, is expected to close during the first
quarter of fiscal 2014. Upon transaction close and repayment of
outstanding senior secured borrowings, Moody's expects to withdraw
all company ratings. DG previously announced in February 2013 that
it had concluded its Special Committee review of strategic
alternatives, including a partial or complete sale, spin-off or
split-off of the business, which at the time, did not result in an
offer to purchase the company or any of its divisions. The Board
had also adopted a Rights Plan as an effective poison pill against
takeovers in September 2012, which expired in March 2013.

The rating revision reflects Moody's expectation that DG's
financial leverage will be sustained above its 3.75x downgrade
trigger over the rating horizon due to lower-than-anticipated
EBITDA (assumes DG's TV and online businesses remain in their
current form and no debt-financed acquisitions). Although the
amended credit agreement requires higher quarterly amortization
and the company prepaid $50 million on the term loan during the
quarter ending 3/31/2013, Moody's expects adjusted debt-to-EBITDA
(3.9x as of 6/30/2013) to remain in the 3.8x to 4x range. This is
driven by Moody's revised expectations of EBITDA generation as a
result of challenges related to the integration of past
acquisitions, continued pricing pressure in the HD sub-segment of
the traditional television distribution business and intense
competition in online distribution.

In March 2013, DG made several amendments to its credit facility
including revolver downsizing to $50 million, higher quarterly
amortization, interest rate increases of 150 basis points on the
term loan and 100 basis points on revolver borrowings, and
revision of covenants to allow more cushion. The amendments do
provide lender protection given lower absolute debt levels as a
result of the $50 million prepayment, higher required quarterly
amortization of around $8.6 million during fiscal 2013 and around
$6 million thereafter, and higher excess cash flow sweep if
leverage (as defined in the credit agreement) exceeds 3x.
Nevertheless, Moody's believes these developments indicate the
company is facing core business challenges, including margin
compression from pricing pressure, exposure to technology risk and
heightened competition as the shift to online ad distribution
accelerates.

Ratings Downgraded:

Corporate Family Rating to B2 from B1

Probability of Default Rating to B3-PD from B2-PD

$490 Million ($395 Million outstanding) Senior Secured Term Loan
due 2018 to B2 (LGD-3, 34%) from B1 (LGD-3, 33%)

$50 Million Senior Secured Revolver due 2016 to B2 (LGD-3, 34%)
from B1 (LGD-3, 33%)

Ratings Rationale:

The ratings downgrade was prompted by DG's underperformance
relative to Moody's expectations when the CFR was initially
assigned in July 2011, and its view that the company will continue
to struggle to meaningfully expand EBITDA as a result of recent
developments within the industry. Given the company's small scale
and low visibility into future revenue generation, Moody's
believes a more conservative leverage compared to global cross-
industry B2-rated peers is appropriate. Although Moody's expects
DG to generate positive free cash flow of around $40 million over
the next twelve months, it is concerned the company may not have
adequate liquidity to make necessary investments in the business
to stay competitive in online ad distribution after making higher
quarterly principal repayments as required by the amended credit
agreement.

The company's rating is supported by its installed equipment base
at over 95% of US television and radio broadcasters, and its
established relationships with advertising agencies, publishers,
broadcasters and advertisers. DG's neutral position has allowed it
to develop relationships with a wide network of advertising
agencies and advertisers, which positions it well to expand its
television advertising business to online platforms as the shift
of advertising dollars from traditional print and broadcasting to
online media accelerates.

Standard Definition (SD) Volume Declines and High Definition (HD)
Pricing Pressures in TV Segment

Although revenue generated by the mature television segment has
remained relatively stable as the company is capturing the shift
from SD to HD deliveries, which is higher margin, the increase in
HD volume has only partially offset the decrease in price. HD
revenue is vulnerable to rapid margin erosion due to pressures to
keep pricing competitive in light of increased competition
including providers of cloud-based services. Although the average
price of HD deliveries remains around 7 times that of SD, HD
pricing has dropped 20%-25% each quarter from prior year,
compressing margins. Moody's expects revenue generated by the TV
segment will constitute less than 50% of total revenue by fiscal
2014.

Positioned to Benefit from Shift of Ad Dollars Online But Higher
Technology, Competitive and Regulatory Risks

As the Number two provider of online distribution services, behind
Google's DoubleClick, DG is positioned to capture some share of
growing demand for online content distribution globally and offset
revenue decline in the traditional TV content distribution
segment. However, Moody's believes the company will be more
vulnerable to technology shifts with the emergence of multiple
platforms, some of which are less optimal for ad content
distribution. As users increasingly connect to the Internet using
devices other than traditional PCs, such as mobile phones or game
consoles, advertisers and distributors will have more difficulty
collecting data to analyze. Since DG's MediaMind platform creates
value for clients by helping them manage different advertising
channels, it will need to continually invest in product
development to stay relevant in a rapidly evolving industry.
However, as the company services interest expense and makes higher
amortization payments on the term loan, cash flow may not be
sufficient to fund the necessary R&D investments, capital
expenditures and tuck-in technology acquisitions.

With AOL's recently announced purchase of Adap.tv, a third-party
programmatic video advertising firm that matches advertisers with
video publishers via an exchange, Moody's expects DG will
increasingly face competitors with significantly more financial
resources as its smaller rivals are acquired by larger, deep-
pocketed entrants. Moody's also believes Extreme Reach may become
a stronger competitor against DG in the online segment, especially
after acquiring customer relationships through DG's TV
distribution business. Although DG's MediaMind platform is
currently more sophisticated and well-recognized in the online
space, Moody's expects Extreme Reach, with the backing of its new
financial sponsor, to invest in developing its online product
offerings.

Further, Moody's believes there is meaningful regulatory risk if
online advertisement distributors become legally restricted from
using tools, such as cookies and tags, to gather data. Moody's
believes much of DG's value to clients comes from the analysis of
data that allow it to profile Internet users and help clients
target their campaign to the desired audience. If it becomes
unlawful in any of DG's markets to use such data gathering
technologies due to concerns about privacy and security, Moody's
believes a valuable functionality of its online ad campaign
management platform will be lost.

Consolidation Among Advertising Agencies Expected to Squeeze Ad
Distributors' Margins

Moody's believes DG will face increasing pricing pressure with the
recent trend of consolidation among advertising agencies, which
are the company's main direct clients. There has been significant
acquisition activity among advertising agencies, leaving only a
handful of major players. In July 2013, Omnicom Group Inc. (Baa1
stable) and Publicis Groupe SA (Baa2 review for upgrade) announced
they have agreed to enter a merger of equals and expect $500
million of annual cost synergies. Moody's believes much of the
benefit from the combined scale will be derived from negotiating
better ad rates for customers' media placements across various
distribution platforms. As a major ad distributor with
relationships with both Omnicom and Publicis, Moody's expects DG
to be pressured to reduce its prices. The Omnicom Publicis merger
could lead to future asset purchases by the remaining agencies,
consolidating the industry even further and allowing the few
remaining players to actively leverage their competitive position
to negotiate lower prices in the distribution of their content.

Delays in Integrating Multiple Acquisitions Hurt Relationships
with Clients

DG's strategy historically has been to grow through acquisitions
and the company has made five acquisitions (North Country, Peer39,
Eye Wonder, MediaMind and MIJO) since April 2011. The company has
faced significant challenges in the integration of multiple
acquired platforms, particularly in combining the MediaMind (July
2011 for $499 million cash) and Eye Wonder (September 2011 for $61
million) platforms. Operational efficiency and dependable customer
service are crucial for content distributors like DG, so the
company's brand image suffered as result of delays in migrating
clients to the new platform. However, Moody's notes the company
has launched a rebranding campaign, which should help it win back
some customers lost during the integration process. Although
Moody's does not anticipate another large acquisition in the near
term, it believes smaller tuck-in acquisitions to enhance DG's
product offerings and technology capabilities are possible.

Rating Outlook

Developing. Moody's believes DG is appropriately positioned within
the B2 rating category since it will continue to repay the term
loan while EBITDA remains under pressure as the business model
transitions to an online distributor of ad content. Nonetheless,
with the recent announcement to sell the television distribution
business, the developing outlook recognizes two potential paths
over the near-term due to uncertainties surrounding the
transaction: (1) the likelihood that the term loan will be repaid
in full, which would be a positive outcome for debtholders; or (2)
possible delays in closing (or failure to close) the transaction,
prolonging the continued earnings deterioration in the television
business and increasing pressure to return value to shareowners,
which could result in a negative outcome to debtholders.

Moody's believes DG's server-based distribution business will
remain relatively stable as increasing volumes should offset
pricing pressures and the company will continue to capture online
distribution business as ad dollars shift to new media. Moody's
expects total debt-to-EBITDA ratios will be sustained between 3.8x
and 4x (including Moody's standard adjustments) over the rating
horizon. Moody's also expects the company will maintain good
liquidity with the potential for continued tuck-in acquisitions.

What Could Change the Rating -- Up

Ratings could be upgraded if there are signs of price
stabilization across the company's various distribution services
and total debt-to-EBITDA is sustained comfortably below 3.5x, with
free cash flow-to-debt ratios greater than 18%.

What Could Change the Rating -- Down

Ratings could be downgraded if revenue or EBITDA fall short of
Moody's revised expectations due to general economic weakness,
decreasing demand from ad agencies, or pricing erosion resulting
in total debt-to-EBITDA ratios being sustained above 4.5x
(including Moody's standard adjustments). Heightened acquisition
activity or margin erosion resulting in weakened liquidity or
deterioration in EBITDA cushion relative to financial maintenance
covenant could also lead to a downgrade.

The principal methodology used in this rating was the Global
Business & Consumer Service Industry Methodology published in
October 2010. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.

Headquartered in Irving, TX, Digital Generation, Inc. (formerly
known as DGFastChannel, Inc.) is a leading ad management and
distribution platform connecting nearly 14,000 global advertisers
and 7,400 agencies with their targeted audiences through a network
of 5,900 television broadcast stations and 16,000 web publishers
in 78 countries. DG's television division (around 61% of total
revenue) utilizes network and content management technologies,
creative and production resources, digital asset management and
syndication services that enable advertisers and agencies to work
more competitively. The company's online division (around 39% of
total revenue), allows marketers to manage online advertising
campaigns with data driven metrics. DG is publicly traded and
shares are widely held with Scott K. Ginsburg (Executive Chairman)
owning approximately 10.2% of common shares and voting control.
For the twelve months ended June 30, 2013, revenue totaled $386
million.


DYNASIL CORP: Incurs $366,000 Net Loss in June 30 Quarter
---------------------------------------------------------
Dynasil Corporation of America filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $366,360 on $11.32 million of net revenue for the
three months ended June 30, 2013, as compared with a net loss of
$331,900 on $12.08 million of net revenue for the same period
during the prior year.

For the nine months ended June 30, 2013, the Company incurred a
net loss of $7.98 million on $32.36 million of net revenue, as
compared with a net loss of $546,572 on $36.51 million of net
revenue for the same period a year ago.

The Company reported a net loss of $4.30 million for the year
ended Sept. 30, 2012, as compared with net income of $1.35 million
during the prior fiscal year.

The Company's balance sheet at June 30, 2013, showed $27.74
million in total assets, $16.82 million in total liabilities and
$10.92 million in total stockholders' equity.

                         Bankruptcy Warning

"If our lenders were to accelerate our debt payments, our assets
may not be sufficient to fully repay the debt and we may not be
able to obtain capital from other sources at favorable terms or at
all.  If additional funding is required, this funding may not be
available on favorable terms, if at all, or without potentially
very substantial dilution to our stockholders . If we do not raise
the necessary funds, we may need to curtail or cease our
operations, sell certain assets and/or file for bankruptcy, which
would have a material adverse effect on our financial condition
and results of operations," the Company said in the periodic
filing.

A copy of the Form 10-Q is available for free at:

                         http://is.gd/8DNweU

                            About Dynasil

Watertown, Mass.-based Dynasil Corporation of America (NASDAQ:
DYSL) -- http://www.dynasil.com/-- develops and manufactures
detection and analysis technology, precision instruments and
optical components for the homeland security, medical and
industrial markets.

McGladrey LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Sept. 30, 2012, citing default with the financial
covenants under the Company's outstanding loan agreements and a
loss from operations which factors raise substantial doubt about
the Company's ability to continue as a going concern.


EASTMAN KODAK: Court Approves Estimation of BNY Mellon Claims
-------------------------------------------------------------
U.S. Bankruptcy Judge Allan Gropper issued an order temporarily
allowing each of the pre-bankruptcy claims of the Bank of New York
Mellon in the amount of $2,000 for purposes of voting on Eastman
Kodak Co.'s Chapter 11 reorganization plan.

The bank oversees the trusts, which were formed to hold the assets
of the Kodak employees' investment plan and retirement plan
sponsored by the company, and another pension plan sponsored by
its subsidiary, Qualex Inc.

BNY Mellon's claims stemmed from a trust agreement it entered into
with Qualex, and two separate trust agreements with Kodak.  The
claims were filed against the companies as "unliquidated and
contingent."

                        About Eastman Kodak

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.
Subsidiaries outside of the U.S. were not included in the filing
and are expected to continue to operate as usual.

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.  Kodak sought bankruptcy
protection amid near-term liquidity issues brought about by
steeper-than-expected declines in Kodak's historically profitable
traditional businesses, and cash flow from the licensing and sale
of intellectual property being delayed due to litigation tactics
employed by a small number of infringing technology companies
with strong balance sheets and an awareness of Kodak's liquidity
challenges.

In recent years, Kodak has been working to transform itself from
a business primarily based on film and consumer photography to a
smaller business with a digital growth strategy focused on the
commercialization of proprietary digital imaging and printing
technologies.  Kodak has 8,900 patent and trademark registrations
and applications in the United States, as well as 13,100 foreign
patents and trademark registrations or pending registration in
roughly 160 countries.

Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  FTI Consulting,
Inc., is the restructuring advisor.   Lazard Freres & Co. LLC, is
the investment banker.  Kurtzman Carson Consultants LLC is the
claims agent.

The Official Committee of Unsecured Creditors has tapped Milbank,
Tweed, Hadley & McCloy LLP, as its bankruptcy counsel.

Michael S. Stamer, Esq., David H. Botter, Esq., and Abid Qureshi,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represent the
Unofficial Second Lien Noteholders Committee.

The Retirees Committee has hired Haskell Slaughter Young &
Rediker, LLC, and Arent Fox, LLC as Co-Counsel; Zolfo Cooper,
LLC, as Bankruptcy Consultants and Financial Advisors; and the
Segal Company, as Actuarial Advisors.

Robert J. Stark, Esq., Andrew Dash, Esq., and Neal A. D'Amato,
Esq., at Brown Rudnick LLP, represent Greywolf Capital Partners
II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth
S. Grossman; and Paul Martin.

Kodak completed the $527 million sale of digital-imaging
technology on Feb. 1, 2013.  Kodak intends to reorganize by
focusing on the commercial printing business.

At the end of April 2013, Kodak filed a proposed reorganization
plan offering 85 percent of the stock to holders of the remaining
$375 million in second-lien notes. The other 15 percent is for
unsecured creditors with $2.7 billion in claims and retirees who
have a $635 million claim from the loss of retirement benefits.


EASTMAN KODAK: Bayer Unit Challenges Ch. 11 Plan Over $250MM Claim
------------------------------------------------------------------
Law360 reported that a Bayer AG subsidiary objected to a plan
aimed at taking Rochester, N.Y.-based Eastman Kodak Co. out of
Chapter 11 protection, arguing that the company's reorganization
plan threatened its $250 million claim covering environmental
liabilities.

STWB Inc. lobbed an objection to Kodak's reorganization plan,
which was originally filed in May and subsequently tweaked, saying
that the plan left the fate of its claims unclear, according to
the objection filed in New York bankruptcy court, the report
related.  Its claims stem from Kodak's obligation to cover
damages, among others, the report added.

                        About Eastman Kodak

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.
Subsidiaries outside of the U.S. were not included in the filing
and are expected to continue to operate as usual.

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.  Kodak sought bankruptcy
protection amid near-term liquidity issues brought about by
steeper-than-expected declines in Kodak's historically profitable
traditional businesses, and cash flow from the licensing and sale
of intellectual property being delayed due to litigation tactics
employed by a small number of infringing technology companies
with strong balance sheets and an awareness of Kodak's liquidity
challenges.

In recent years, Kodak has been working to transform itself from
a business primarily based on film and consumer photography to a
smaller business with a digital growth strategy focused on the
commercialization of proprietary digital imaging and printing
technologies.  Kodak has 8,900 patent and trademark registrations
and applications in the United States, as well as 13,100 foreign
patents and trademark registrations or pending registration in
roughly 160 countries.

Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  FTI Consulting,
Inc., is the restructuring advisor.   Lazard Freres & Co. LLC, is
the investment banker.  Kurtzman Carson Consultants LLC is the
claims agent.

The Official Committee of Unsecured Creditors has tapped Milbank,
Tweed, Hadley & McCloy LLP, as its bankruptcy counsel.

Michael S. Stamer, Esq., David H. Botter, Esq., and Abid Qureshi,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represent the
Unofficial Second Lien Noteholders Committee.

The Retirees Committee has hired Haskell Slaughter Young &
Rediker, LLC, and Arent Fox, LLC as Co-Counsel; Zolfo Cooper,
LLC, as Bankruptcy Consultants and Financial Advisors; and the
Segal Company, as Actuarial Advisors.

Robert J. Stark, Esq., Andrew Dash, Esq., and Neal A. D'Amato,
Esq., at Brown Rudnick LLP, represent Greywolf Capital Partners
II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth
S. Grossman; and Paul Martin.

Kodak completed the $527 million sale of digital-imaging
technology on Feb. 1, 2013.  Kodak intends to reorganize by
focusing on the commercial printing business.

At the end of April 2013, Kodak filed a proposed reorganization
plan offering 85 percent of the stock to holders of the remaining
$375 million in second-lien notes. The other 15 percent is for
unsecured creditors with $2.7 billion in claims and retirees who
have a $635 million claim from the loss of retirement benefits.


EASTMAN KODAK: Obtains Court Approval to Assume IP Contracts
------------------------------------------------------------
Eastman Kodak Co. obtained court approval of its agreements with
tech firms to take over their intellectual property contracts as
part of its proposed plan to get out of bankruptcy protection.

The firms are Dai Nippon Printing Co. Ltd., Moxtek Inc., Nikon
Corp., Technicolor Inc., Oracle Corp. and Ricoh Company Ltd.

                        About Eastman Kodak

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.
Subsidiaries outside of the U.S. were not included in the filing
and are expected to continue to operate as usual.

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.  Kodak sought bankruptcy
protection amid near-term liquidity issues brought about by
steeper-than-expected declines in Kodak's historically profitable
traditional businesses, and cash flow from the licensing and sale
of intellectual property being delayed due to litigation tactics
employed by a small number of infringing technology companies
with strong balance sheets and an awareness of Kodak's liquidity
challenges.

In recent years, Kodak has been working to transform itself from
a business primarily based on film and consumer photography to a
smaller business with a digital growth strategy focused on the
commercialization of proprietary digital imaging and printing
technologies.  Kodak has 8,900 patent and trademark registrations
and applications in the United States, as well as 13,100 foreign
patents and trademark registrations or pending registration in
roughly 160 countries.

Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  FTI Consulting,
Inc., is the restructuring advisor.   Lazard Freres & Co. LLC, is
the investment banker.  Kurtzman Carson Consultants LLC is the
claims agent.

The Official Committee of Unsecured Creditors has tapped Milbank,
Tweed, Hadley & McCloy LLP, as its bankruptcy counsel.

Michael S. Stamer, Esq., David H. Botter, Esq., and Abid Qureshi,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represent the
Unofficial Second Lien Noteholders Committee.

The Retirees Committee has hired Haskell Slaughter Young &
Rediker, LLC, and Arent Fox, LLC as Co-Counsel; Zolfo Cooper,
LLC, as Bankruptcy Consultants and Financial Advisors; and the
Segal Company, as Actuarial Advisors.

Robert J. Stark, Esq., Andrew Dash, Esq., and Neal A. D'Amato,
Esq., at Brown Rudnick LLP, represent Greywolf Capital Partners
II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth
S. Grossman; and Paul Martin.

Kodak completed the $527 million sale of digital-imaging
technology on Feb. 1, 2013.  Kodak intends to reorganize by
focusing on the commercial printing business.

At the end of April 2013, Kodak filed a proposed reorganization
plan offering 85 percent of the stock to holders of the remaining
$375 million in second-lien notes. The other 15 percent is for
unsecured creditors with $2.7 billion in claims and retirees who
have a $635 million claim from the loss of retirement benefits.


EASTMAN KODAK: Says Plan Satisfies Confirmation Requirements
------------------------------------------------------------
Eastman Kodak Co. is asking U.S. Bankruptcy Judge Allan Gropper to
confirm its proposed plan to get out of Chapter 11 protection,
saying it satisfies the requirements for confirmation under U.S.
bankruptcy law.

In a court filing, Kodak said its reorganization plan satisfies
one important provision of Section 1129 of the Bankruptcy Code,
which requires that a plan be feasible to avoid another bankruptcy
filing.

The company said it is confident that after it officially exits
bankruptcy, the reorganized Kodak will be able to manage its debt
since the plan proposes a "sound and adequate post-emergence
capital structure."

Kodak pointed out that the reorganized company under the plan will
have approximately $695 million of funded debt and an asset-based
revolving credit facility with commitments of $200 million.

"The emergence credit facilities and global cash on hand will
provide sufficient liquidity and available working capital for the
reorganized debtors to operate their businesses," the company
said.

Kodak also noted that the agreement it entered into with its U.K.
pension fund to settle $2.8 billion of claims resolves a
"significant proportion" of its post-employment benefits
obligations.

The proposed plan also satisfies other provisions of Section 1129
including those governing the classification of claims, disclosure
of identity of the new management, and payment of fees and retiree
benefits, the company further said.

Separately, Ahsan Zia of Tinton Falls, N.J., dropped his objection
to the plan filed on August 16.  In his objection, the Kodak
shareholder accused George Karfunkel, one of the proposed
appointees to the Board of Directors of the reorganized company,
of breach of duties, and alleged that the plan was developed in
bad faith.

Judge Gropper is slated to hold a hearing on Aug. 20, at 11:00
a.m. (ET), to consider approval of the restructuring plan.


                        About Eastman Kodak

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.
Subsidiaries outside of the U.S. were not included in the filing
and are expected to continue to operate as usual.

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.  Kodak sought bankruptcy
protection amid near-term liquidity issues brought about by
steeper-than-expected declines in Kodak's historically profitable
traditional businesses, and cash flow from the licensing and sale
of intellectual property being delayed due to litigation tactics
employed by a small number of infringing technology companies
with strong balance sheets and an awareness of Kodak's liquidity
challenges.

In recent years, Kodak has been working to transform itself from
a business primarily based on film and consumer photography to a
smaller business with a digital growth strategy focused on the
commercialization of proprietary digital imaging and printing
technologies.  Kodak has 8,900 patent and trademark registrations
and applications in the United States, as well as 13,100 foreign
patents and trademark registrations or pending registration in
roughly 160 countries.

Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  FTI Consulting,
Inc., is the restructuring advisor.   Lazard Freres & Co. LLC, is
the investment banker.  Kurtzman Carson Consultants LLC is the
claims agent.

The Official Committee of Unsecured Creditors has tapped Milbank,
Tweed, Hadley & McCloy LLP, as its bankruptcy counsel.

Michael S. Stamer, Esq., David H. Botter, Esq., and Abid Qureshi,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represent the
Unofficial Second Lien Noteholders Committee.

The Retirees Committee has hired Haskell Slaughter Young &
Rediker, LLC, and Arent Fox, LLC as Co-Counsel; Zolfo Cooper,
LLC, as Bankruptcy Consultants and Financial Advisors; and the
Segal Company, as Actuarial Advisors.

Robert J. Stark, Esq., Andrew Dash, Esq., and Neal A. D'Amato,
Esq., at Brown Rudnick LLP, represent Greywolf Capital Partners
II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth
S. Grossman; and Paul Martin.

Kodak completed the $527 million sale of digital-imaging
technology on Feb. 1, 2013.  Kodak intends to reorganize by
focusing on the commercial printing business.

At the end of April 2013, Kodak filed a proposed reorganization
plan offering 85 percent of the stock to holders of the remaining
$375 million in second-lien notes. The other 15 percent is for
unsecured creditors with $2.7 billion in claims and retirees who
have a $635 million claim from the loss of retirement benefits.


EASTMAN KODAK: Creditors Support Plan of Reorganization
-------------------------------------------------------
Kodak's creditors have voted in favor of its Plan of
Reorganization, and with this positive outcome, the company is
well positioned to seek confirmation of its Plan of Reorganization
at the confirmation hearing scheduled for August 20 before the
U.S. Bankruptcy Court for the Southern District of New York.

In its filings with the Bankruptcy Court, Kodak reported that all
classes of the company's eligible creditors voted strongly in
favor of the company's Plan.

"Our creditors have clearly told us we have the right strategy for
the future of Kodak.  This significant endorsement of our Plan
enables Kodak to move toward emergence with the support of our
creditors," said Antonio M. Perez, Chairman and Chief Executive
Officer.  "We are on task and on schedule.  We look forward to our
confirmation hearing next week and then to emerging from Chapter
11 as a technology company focused on imaging for business."

The confirmation hearing on Kodak's Plan of Reorganization is
currently scheduled for 11:00 a.m. ET on August 20, 2013.

                         Hurdle Cleared

Jacqueline Palank, writing for Daily Bankruptcy Review, reported
that Eastman Kodak said most of its creditors have voted in favor
of the company's restructuring plan, clearing a hurdle on the path
out of bankruptcy.

Law360 reported that Eastman Kodak Co. said that its "consensus"
Chapter 11 reorganization plan should be confirmed, on the heels
of creditors voting "strongly in favor" of the plan and a New York
bankruptcy judge again denying a shareholder bid for an equity
committee.

Rochester, N.Y.-based Kodak plans to focus on commercial printing
services when it emerges from bankruptcy by shedding legacy costs
and bolstering its liquidity with, among other measures, a $650
million spinoff of its document imaging business to its British
retirees.

                        About Eastman Kodak

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.
Subsidiaries outside of the U.S. were not included in the filing
and are expected to continue to operate as usual.

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.  Kodak sought bankruptcy
protection amid near-term liquidity issues brought about by
steeper-than-expected declines in Kodak's historically profitable
traditional businesses, and cash flow from the licensing and sale
of intellectual property being delayed due to litigation tactics
employed by a small number of infringing technology companies
with strong balance sheets and an awareness of Kodak's liquidity
challenges.

In recent years, Kodak has been working to transform itself from
a business primarily based on film and consumer photography to a
smaller business with a digital growth strategy focused on the
commercialization of proprietary digital imaging and printing
technologies.  Kodak has 8,900 patent and trademark registrations
and applications in the United States, as well as 13,100 foreign
patents and trademark registrations or pending registration in
roughly 160 countries.

Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  FTI Consulting,
Inc., is the restructuring advisor.   Lazard Freres & Co. LLC, is
the investment banker.  Kurtzman Carson Consultants LLC is the
claims agent.

The Official Committee of Unsecured Creditors has tapped Milbank,
Tweed, Hadley & McCloy LLP, as its bankruptcy counsel.

Michael S. Stamer, Esq., David H. Botter, Esq., and Abid Qureshi,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represent the
Unofficial Second Lien Noteholders Committee.

The Retirees Committee has hired Haskell Slaughter Young &
Rediker, LLC, and Arent Fox, LLC as Co-Counsel; Zolfo Cooper,
LLC, as Bankruptcy Consultants and Financial Advisors; and the
Segal Company, as Actuarial Advisors.

Robert J. Stark, Esq., Andrew Dash, Esq., and Neal A. D'Amato,
Esq., at Brown Rudnick LLP, represent Greywolf Capital Partners
II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth
S. Grossman; and Paul Martin.

Kodak completed the $527 million sale of digital-imaging
technology on Feb. 1, 2013.  Kodak intends to reorganize by
focusing on the commercial printing business.

At the end of April 2013, Kodak filed a proposed reorganization
plan offering 85 percent of the stock to holders of the remaining
$375 million in second-lien notes. The other 15 percent is for
unsecured creditors with $2.7 billion in claims and retirees who
have a $635 million claim from the loss of retirement benefits.


EASTMAN KODAK: Names Nine People for Its Post-Bankruptcy Board
--------------------------------------------------------------
Ben Fox Rubin, writing for The Wall Street Journal, reported that
Eastman Kodak Co. selected nine people to serve on its new board
after it emerges from bankruptcy, including six new members.

The report related that Kodak, of Rochester, N.Y., sought Chapter
11 protection in January 2012. Since then, it has been working to
sell assets and shed unprofitable business lines to reorganize
around its commercial-imaging business, which includes digital
printers and motion-picture film.

The new board members will be Mark S. Burgess, chairman of
packaging-products manufacturer Clondalkin Group; Matt Doheny,
president of investment firm North Country Capital LLC; John
Janitz, chairman of investment firm Evergreen Capital Partners
LLC; George Karfunkel, chairman of consultancy Sabr Group; Jason
New, senior managing director of private-equity firm Blackstone
Group L.P. (BX) and Derek Smith, managing principal of investment
firm BlueMountain Capital Management, the report related.

Chief Executive Antonio M. Perez, a director since October 2004,
and directors James V. Continenza and William G. Parrett will
remain on the board, the report said.

The term of the new board members will start once Kodak's emerges
from bankruptcy protection, and is subject to the confirmation of
the company's reorganization plan by a bankruptcy court.

The current board will remain in place until the new board takes
over. The new board members would serve until the company's next
annual meeting.

                        About Eastman Kodak

Rochester, New York-based Eastman Kodak Company and its U.S.
subsidiaries on Jan. 19, 2012, filed voluntarily Chapter 11
petitions (Bankr. S.D.N.Y. Lead Case No. 12-10202) in Manhattan.
Subsidiaries outside of the U.S. were not included in the filing
and are expected to continue to operate as usual.

Kodak, founded in 1880 by George Eastman, was once the world's
leading producer of film and cameras.  Kodak sought bankruptcy
protection amid near-term liquidity issues brought about by
steeper-than-expected declines in Kodak's historically profitable
traditional businesses, and cash flow from the licensing and sale
of intellectual property being delayed due to litigation tactics
employed by a small number of infringing technology companies
with strong balance sheets and an awareness of Kodak's liquidity
challenges.

In recent years, Kodak has been working to transform itself from
a business primarily based on film and consumer photography to a
smaller business with a digital growth strategy focused on the
commercialization of proprietary digital imaging and printing
technologies.  Kodak has 8,900 patent and trademark registrations
and applications in the United States, as well as 13,100 foreign
patents and trademark registrations or pending registration in
roughly 160 countries.

Attorneys at Sullivan & Cromwell LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  FTI Consulting,
Inc., is the restructuring advisor.   Lazard Freres & Co. LLC, is
the investment banker.  Kurtzman Carson Consultants LLC is the
claims agent.

The Official Committee of Unsecured Creditors has tapped Milbank,
Tweed, Hadley & McCloy LLP, as its bankruptcy counsel.

Michael S. Stamer, Esq., David H. Botter, Esq., and Abid Qureshi,
Esq., at Akin Gump Strauss Hauer & Feld LLP, represent the
Unofficial Second Lien Noteholders Committee.

The Retirees Committee has hired Haskell Slaughter Young &
Rediker, LLC, and Arent Fox, LLC as Co-Counsel; Zolfo Cooper,
LLC, as Bankruptcy Consultants and Financial Advisors; and the
Segal Company, as Actuarial Advisors.

Robert J. Stark, Esq., Andrew Dash, Esq., and Neal A. D'Amato,
Esq., at Brown Rudnick LLP, represent Greywolf Capital Partners
II; Greywolf Capital Overseas Master Fund; Richard Katz, Kenneth
S. Grossman; and Paul Martin.

Kodak completed the $527 million sale of digital-imaging
technology on Feb. 1, 2013.  Kodak intends to reorganize by
focusing on the commercial printing business.

At the end of April 2013, Kodak filed a proposed reorganization
plan offering 85 percent of the stock to holders of the remaining
$375 million in second-lien notes. The other 15 percent is for
unsecured creditors with $2.7 billion in claims and retirees who
have a $635 million claim from the loss of retirement benefits.


ECOTALITY INC: Robbins Geller Files Securities Class Action
-----------------------------------------------------------
Robbins Geller Rudman & Dowd LLP on Aug. 15 disclosed that a class
action has been commenced in the United States District Court for
the Northern District of California on behalf of purchasers of
ECOtality, Inc. common stock during the period between April 16,
2013 and August 9, 2013.

If you wish to serve as lead plaintiff, you must move the Court no
later than 60 days from August 15, 2013.  If you wish to discuss
this action or have any questions concerning this notice or your
rights or interests, please contact plaintiff's counsel, Samuel H.
Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or
619/231-1058, or via e-mail at djr@rgrdlaw.com

If you are a member of this class, you can view a copy of the
complaint as filed or join this class action online at
http://www.rgrdlaw.com/cases/ecotality/

Any member of the putative class may move the Court to serve as
lead plaintiff through counsel of their choice, or may choose to
do nothing and remain an absent class member.

The complaint charges ECOtality and certain of its officers and
directors with violations of the Securities Exchange Act of 1934.
ECOtality is an electric transportation and storage technologies
company that sells electric vehicle ("EV") supply equipment (or
"EVSE") through its customer-facing brand of smart EV chargers,
Blink.

The complaint alleges that during the Class Period, defendants
issued false and misleading statements regarding the Company's
business and future prospects.  Specifically, the complaint
alleges that defendants concealed the following material adverse
facts from the investing public during the Class Period: (a) due
to design and manufacturing defects, some of ECOtality's charging
systems had been causing overheating and even the melting of
connector plugs when charging vehicles; (b) despite efforts
undertaken to transition the Company's business model from
subsidizing installations of EVSEs under the Department of
Energy's ("DOE") EV Project to regular commercial sales and
installations, ECOtality was not achieving enough commercial sales
and installations to sustain operations in the second half of
2013; (c) due to "unacceptable performance shortfalls during
prototype verification testing," ECOtality was not on track to
meet the scheduled release of a new Minit Charger product for
industrial customers in the second half of 2013; (d) due to would-
be potential investors' unwillingness to provide additionally
needed financing, ECOtality was unable to obtain the requisite
financing to meet its short-term and long-term capital needs and
would be unable to meet its obligations to the DOE's EV Project
and the DOE would suspend all payments to the Company; and (e) due
to non-compliance with the nation's labor laws, the Company was
liable to the U.S. Department of Labor for $855,000 for the
payment of back wages and damages.

On August 12, 2013, before the opening of trading, ECOtality
announced that the Company had hired a "restructuring" adviser to
evaluate options, including new financing, a possible sale of the
Company or bankruptcy filing.  The Company's Current Report filed
with the SEC on Form 8-K that day emphasized, in pertinent part,
that a bankruptcy filing could be made "in the very near future"
following, among other things, disappointing sales and suspension
of payments from the federal government.  On this news, the price
of ECOtality common stock, which had traded as high as $2.40 per
share in intraday trading during the Class Period, plummeted more
than 87% from that level to close at $0.30 per share when trading
resumed on August 12, 2013.

Plaintiff seeks to recover damages on behalf of all purchasers of
ECOtality common stock during the Class Period.  The plaintiff is
represented by Robbins Geller, which has expertise in prosecuting
investor class actions and extensive experience in actions
involving financial fraud.

Robbins Geller -- http://www.rgrdlaw.com-- represents U.S. and
international institutional investors in contingency-based
securities and corporate litigation.  With nearly 200 lawyers in
nine offices, the firm represents hundreds of public and multi-
employer pension funds with combined assets under management in
excess of $2 trillion.  The firm has obtained many of the largest
recoveries and has been ranked number one in the number of
shareholder class action recoveries in MSCI's Top SCAS 50 every
year since 2003.


ELEPHANT TALK: Files Copy of Investor Presentation with SEC
-----------------------------------------------------------
Elephant Talk Communications Corp. will hold presentations to
investors relating to the Company and its recent developments.
The form of slide show presentation that will be used by
management of the Company to describe the business is available
for free at http://is.gd/4sKd0W

                        About Elephant Talk

Lutz, Fla.-based Elephant Talk Communications, Inc. (OTC BB: ETAK)
-- http://www.elephanttalk.com/-- is an international provider of
business software and services to the telecommunications and
financial services industry.

Elephant Talk disclosed a net loss attributable to the Company of
$23.13 million in 2012, a net loss attributable to the Company of
$25.31 million in 2011 and a net loss attributable to the Company
of $92.48 million in 2010.  The Company's balance sheet at
March 31, 2013, showed $34.47 million in total assets, $18.29
million in total liabilities, and $16.18 million in total
stockholders' equity.

BDO USA, LLP, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31,
2012.  The independent auditors noted that the Company has
suffered recurring losses from operations has an accumulated
deficit of $203.3 million and continues to generate negative cash
flows that raise substantial doubt about its ability to continue
as a going concern.


ENDICOTT INTERCONNECT: Creditors Seek to Probe 'Insider' Dealings
-----------------------------------------------------------------
Marie Beaudette, writing for DBR Small Cap, reported that
creditors of microelectronics company Endicott Interconnect
Technologies Inc. are seeking to probe the company's dealings with
minority shareholder James T. Matthews, whose Integrian Holdings
LLC has offered to kick off bidding for the company's assets at an
auction next month.

                    About Endicott Interconnect

Endicott Interconnect Technologies Inc., filed a Chapter 11
petition (Bankr. N.D.N.Y. Case No. 13-bk-61156) in Utica, New
York, on July 10, 2013, to sell the business before cash runs out
by the end of September.

Based in Endicott, New York, and formed in 2002, EIT is the
successor to the microelectronics division of IBM Corp.  The
products are used in aerospace, defense and medication
applications, among others.

The company sought Chapter 11 bankruptcy protection after
suffering $100 million in operating losses in the last four years.

In addition to $16 million in secured claims, trade suppliers are
owed $34 million.  There is another $32 million owing for loans
made by shareholders.  The company said the book value of property
is $36 million.


ENDICOTT INTERCONNECT: Creditors Seek Ability to Bid $5-Mil. Debt
-----------------------------------------------------------------
Marie Beaudette, writing for DBR Small Cap, reported that David
and William Maines want to be able to credit bid the $5 million
they say microelectronics company Endicott Interconnect
Technologies Inc. owes them at an auction for its assets.

                    About Endicott Interconnect

Endicott Interconnect Technologies Inc., filed a Chapter 11
petition (Bankr. N.D.N.Y. Case No. 13-bk-61156) in Utica, New
York, on July 10, 2013, to sell the business before cash runs out
by the end of September.

Based in Endicott, New York, and formed in 2002, EIT is the
successor to the microelectronics division of IBM Corp.  The
products are used in aerospace, defense and medication
applications, among others.

The company sought Chapter 11 bankruptcy protection after
suffering $100 million in operating losses in the last four years.

In addition to $16 million in secured claims, trade suppliers are
owed $34 million.  There is another $32 million owing for loans
made by shareholders.  The company said the book value of property
is $36 million.


ENDICOTT INTERCONNECT: Hearing Today on Cash, Sale
--------------------------------------------------
The Hon. Diane Davis of the U.S. Bankruptcy Court for the
Northern District of New York, according to Endicott Interconnect
Technologies, Inc., et al.'s case docket, adjourned to Aug. 20,
2013, the hearing to consider the Debtors' request for continued
access to cash collateral in which secured creditors assert an
interest.

The hearing was previously set for Aug. 13.

As of the Petition Date, EIT is indebted to secured creditors
Integrian Holdings, LLC, M&T Bank and William and David Maines.

The Court has authorized, on an interim basis, the Debtors' use of
cash collateral until Aug. 23, 2013, or on the occurrence of a
termination date.  The Debtors will not, without the prior written
consent of the secured creditors, use cash collateral in an amount
that exceeds any particular authorized line item on the budget by
more than 10%.

As adequate protection from any diminution in the value of the
lenders' collateral, the Debtor will grant the secured creditors
adequate protection liens on all postpetition collateral.

                      Sale of All Assets

The Bankruptcy Court, according to Endicott's case docket,
adjourned to Aug. 20, 2013, at 1 p.m., the hearing to consider the
Debtors' motion for authorization to sell substantially all
assets.

On Aug. 6, Tracy Hope Davis, U.S. Trustee for Region 2, requested
that the Court deny approval of the Debtors' sale motion, stating
that:

   1. the motion does not adequately meet the standard of fairness
      applied to an insider transaction;

   2. the motion lacks sufficient disclosure of the terms of the
      proposed insider stalking horse;

   3. the motion fails to show a clear benefit to the estate; and

   4. the sale does now allow an exclusion from the sale for
      Chapter 5 causes of action or Debtor's cash on hand.

As reported in the Troubled Company Reporter on July 18, 2013, the
Debtors submitted papers July 15 setting up an auction where the
business will be sold for $250,000 cash absent a better offer.
According to a report by Bill Rochelle, the bankruptcy columnist
for Bloomberg News, the purchase offer comes from a company owned
by minority shareholder James T. Matthews.  In addition to the
cash, he will assume a $6.1 million secured term loan of which he
is already the owner.  There is about $10 million owing on two
other secured loans.

A hearing was initially scheduled for July 25 in U.S. Bankruptcy
Court in Utica, New York, for approval of sale procedures.  The
company wanted competing bids by Aug. 15, followed by an Aug. 19
auction and a hearing on Aug. 20 for approval of sale.

Endicott Interconnect Technologies Inc., filed a Chapter 11
petition (Bankr. N.D.N.Y. Case No. 13-61156) in Utica, New
York, on July 10, 2013, to sell the business before cash runs out
by the end of September.

Based in Endicott, New York, and formed in 2002, EIT is the
successor to the microelectronics division of IBM Corp.  The
products are used in aerospace, defense and medication
applications, among others.

The company sought Chapter 11 bankruptcy protection after
suffering $100 million in operating losses in the last four years.
In addition to $16 million in secured claims, trade suppliers are
owed $34 million.  There is another $32 million owing for loans
made by shareholders.  The company said the book value of property
is $36 million.

Judge Diane Davis oversees the case.  Stephen A. Donato, Esq., at
Bond, Schoeneck & King, PLLC, serves as bankruptcy counsel.  In
its petition, the Debtor estimated $10 million to $50 million in
both assets and debts.  The petition was signed by David W. Van
Rossum, chief restructuring officer.

The Official Committee of Unsecured Creditors is represented by
Robert M. Hirsh, Esq., at Arent Fox LLP as counsel.


ENDICOTT INTERCONNECT: Panel Taps Arent Fox as Bankruptcy Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Endicott Interconnect Technologies, Inc., et al., asks
the Bankruptcy Court for permission to employ Arent Fox LLP as its
attorneys.

Robert M. Hirsh, Esq., will be primarily responsible for Arent
Fox's representation of the Committee.

The hourly rates of Arent Fox's personnel are:

         Partners                       $495 - $800
         Of Counsel                     $485 - $765
         Associates                     $275 - $525
         Paraprofessionals              $150 - $270

To the best of the Committee's knowledge, Arent Fox is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

Tracy Hope Davis, U.S. Trustee for Region 2, appointed seven
creditors to serve in the Official Committee of Unsecured
Creditors:

      1. Avnet Electronics Marketing
         Attn: Dennis E. Losik
         5400 Prairie stone Parkway
         Hoffman Estates, IL 60192
         Tel: (847)-396-7401

      2. Arrow Electronics, Inc.
         Attn: Mike Fassula, credit manager
         7459 South Lima Street
         Englewood, Co 80112-3879
         Tel: (303) 566-7042

      3. Acbel Polytech, Inc.
         Attn: Victor I. Chang and Mark Harty
         c/o LCS & Partners
         5Fl. No. 8 Sinyi Road Section 5, Taipei
         Taiwan
         Tel: +8862-2729-8000

      4. Cadence Design Systems, Inc.
         Attn: Lee E. Woodard, Esq.
         c/o Harris Beach, PLLC
         333 West Washington Street - Suite 200
         Syracuse, NY 13202
         Tel: (315) 423-7100

      5. Orbotech, Inc.
         Attn: Michael M. Zizza, Esq., general counsel
         44 Manning Road
         Billerica, MA 01821
         Tel: (978) 764-3577

      6. Tyco Electronics
         Attn: MaryAnn Brereton, Esq., general counsel
         250 Industrial Way West
         Eatontown, NJ 07724
         Tel: (732) 578-7365

      7. High Performance Copper Foil, Inc.
         Attn: John Callahan, president
         2555 W. Fairview Street, Suite 103
         Chandler, AZ 85224
         Tel: (480) 223-0871

                    About Endicott Interconnect

Endicott Interconnect Technologies Inc., filed a Chapter 11
petition (Bankr. N.D.N.Y. Case No. 13-61156) in Utica, New
York, on July 10, 2013, to sell the business before cash runs out
by the end of September.

Based in Endicott, New York, and formed in 2002, EIT is the
successor to the microelectronics division of IBM Corp.  The
products are used in aerospace, defense and medication
applications, among others.

The company sought Chapter 11 bankruptcy protection after
suffering $100 million in operating losses in the last four years.
In addition to $16 million in secured claims, trade suppliers are
owed $34 million.  There is another $32 million owing for loans
made by shareholders.  The company said the book value of property
is $36 million.

Judge Diane Davis oversees the case.  Stephen A. Donato, Esq., at
Bond, Schoeneck & King, PLLC, serves as bankruptcy counsel.  In
its petition, the Debtor estimated $10 million to $50 million in
both assets and debts.  The petition was signed by David W. Van
Rossum, chief restructuring officer.

The Official Committee of Unsecured Creditors is represented by
Robert M. Hirsh, Esq., at Arent Fox LLP as counsel.


ENDICOTT INTERCONNECT: Taps Feather Lane Financial Advisor
----------------------------------------------------------
Endicott Interconnect Technologies, Inc., et al., ask the U.S.
Bankruptcy for the Northern District of New York for permission to
employ Feather Lane Advisors LLC as financial advisors.

Feather Lane will, among other things:

   -- review the Debtors' financial plan, strategic plans and
      business alternatives;

   -- review and assess previous activities undertaken to identify
      strategic and financial partners; and

   -- identify potential additional strategic and financial
      partners.

Stephan A. Leccese, founder and chief executive officer of Feather
Lane, tells the Court that Feather Lane has agreed to provide its
services for a flat fee structure of $20,000 per month, plus
reimbursement of expenses.

Mr. Leccese will be the primary person responsible for providing
services at $250 to $500 per hour or $2,000 to $3,000 per day,
depending upon the nature of the engagement and the services
required.

Mr. Leccese adds that Feather Lane has not received any retainer
or advance fee payment with respect to the engagement.  Prior to
the Petition Date, Feather Lane received approximately $125,540
from the Debtors for services rendered and expenses incurred
prepetition.  Feather Lane has agreed to waive approximately
$15,000 in fees and $9,459 in expenses which were incurred
prepetition.

Mr. Leccese assures the Court that Feather Lane is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

He may be reached at:

          Stephan Leccese
          FEATHER LANE GROUP, LLC
          388 Feather Lane
          East Williston, NY 11596
          Tel: (516) 418-2215
          E-mail: leccese@featherlanegroup.com

                    About Endicott Interconnect

Endicott Interconnect Technologies Inc., filed a Chapter 11
petition (Bankr. N.D.N.Y. Case No. 13-61156) in Utica, New
York, on July 10, 2013, to sell the business before cash runs out
by the end of September.

Based in Endicott, New York, and formed in 2002, EIT is the
successor to the microelectronics division of IBM Corp.  The
products are used in aerospace, defense and medication
applications, among others.

The company sought Chapter 11 bankruptcy protection after
suffering $100 million in operating losses in the last four years.
In addition to $16 million in secured claims, trade suppliers are
owed $34 million.  There is another $32 million owing for loans
made by shareholders.  The company said the book value of property
is $36 million.

Judge Diane Davis oversees the case.  Stephen A. Donato, Esq., at
Bond, Schoeneck & King, PLLC, serves as bankruptcy counsel.  In
its petition, the Debtor estimated $10 million to $50 million in
both assets and debts.  The petition was signed by David W. Van
Rossum, chief restructuring officer.

The Official Committee of Unsecured Creditors is represented by
Robert M. Hirsh, Esq., at Arent Fox LLP as counsel.


ENERSYS: Moody's Raises Corp. Family Rating to Ba1; Outlook Stable
------------------------------------------------------------------
Moody's Investors Service upgraded EnerSys' Corporate Family
Rating to Ba1 from Ba2 and Probability of Default Ratings to Ba1-
PD from Ba2-PD. The company's Senior Secured Bank Credit Facility
was upgraded to Baa2 from Baa3 while the company's $172.5 million
3.375% Convertible Notes due 2038 (currently $157 million) were
upgraded to Ba2 from B1. The company's Speculative Grade Liquidity
rating was affirmed at SGL-1. The rating outlook is stable.

Upgrades:

Issuer: EnerSys

Corporate Family Rating, Upgraded to Ba1 from Ba2

Probability of Default Rating, Upgraded to Ba1-PD from Ba2-PD

Senior Unsecured Conv./Exch. Bond/Debenture June 1, 2038, Upgraded
to Ba2 (LGD5, 89%) from B1 (LGD5, 88% )

Senior Secured Bank Credit Facility, Upgraded to Baa2 (LGD2, 16%)
from Baa3 (LGD2, 15%)

Affirmations:

Issuer: EnerSys

Speculative Grade Liquidity Rating, Affirmed SGL-1

Outlook Actions:

Issuer: EnerSys

Outlook, Changed To Stable From Positive

Ratings Rationale:

The ratings upgrade reflects the company's strong credit metrics
and the expectation that management's philosophy will continue to
result in a conservative balance sheet with Debt to EBITDA under
2x and share repurchases remaining being funded primarily from
operations. Moreover, good liquidity, positive free cash flow
generation, and extensive customer diversity also help balance
against its high product concentration, technological obsolescence
risk, and uncertainty surrounding demand for its significant
European operations.

Although Enersys is anticipated to supplement its organic growth
rate with acquisitions, the rating reflects the expectation that
the size and pace of the acquisitions will allow the company to
maintain a strong balance sheet even after incorporating
acquisitions. The rating also considers Enersys' product
concentration as a manufacturer of lead batteries and anticipates
only slow erosion to new battery technologies.

EnerSys' Speculative Grade Liquidity rating of SGL-1 reflects
Moody's assessment that the company will maintain a very good
liquidity position over the next 12-18 months. The company
reported a sizeable cash balance of approximately $240 million as
of June 30, 2013. Moreover, Moody's expects that the company will
generate operating cash flow well in excess of its capital
spending and enjoy further free cash flow generation before
acquisitions. Its $350 million revolving credit facility, due
September 2018, provides sufficient back-up liquidity for a
company its size in Moody's view. The company had $350 million of
undrawn committed credit lines at the end of June. The company
also has ample cushion under its financial covenants as prescribed
under its revolving credit facility.

The ratings are unlikely to be upgraded over the intermediate term
given the company's product concentration and the expectation for
increasing leverage due to its strategy to enhance growth with
acquisitions. As a result, a change in the rating outlook to
positive is unlikely over the short term.

Downward rating pressure including a change in outlook to negative
could occur if its European operations weaken meaningfully or if
the company makes large debt financed acquisitions particularly if
these result in Debt to EBITDA increasing to over 2x for longer
than just a short period of time. Aggressive acquisitions where
the company pays large purchase multiples can also provide ratings
pressure. Moreover, although Moody's does not anticipate a large
acquisition, it notes that large acquisitions include a level of
integration and execution risks even if funded with some equity.
An inability to manage through the volatility of lead prices or an
adverse change in the competitive climate due to a technological
breakthrough in battery technology by its competitors could also
adversely affect the ratings.

The principal methodology used in this rating was the Global
Manufacturing Industry Methodology published in December 2010.
Other methodologies used include Loss Given Default for
Speculative-Grade Non-Financial Companies in the U.S., Canada and
EMEA published in June 2009.

EnerSys, headquartered in Reading, Pennsylvania, is the world's
largest manufacturer, marketer and distributor of industrial
batteries. The company also manufactures related products such as
chargers, power equipment and battery accessories and provides
aftermarket and customer-support services for industrial
batteries. Revenues for the LTM period through June 30, 2013
totaled almost $2.3 billion.


EXCEL MARITIME: Employs Donlin Recano as Solicitation Agent
-----------------------------------------------------------
Excel Maritime Carriers LTD., et al., sought and obtained
authority to employ Donlin, Recano & Company, Inc., as
solicitation agent, to be paid the following hourly rates: senior
bankruptcy consultant at $175, consultant at 155 to 175, case
manager at 115 to 150, programming consultant at 95 to 120,
analyst at 70 to 110 and clerical at 25 to 40.

                       About Excel Maritime

Based in Athens, Greece, Excel Maritime Carriers Ltd. --
http://www.excelmaritime.com/-- is an owner and operator of dry
bulk carriers and a provider of worldwide seaborne transportation
services for dry bulk cargoes, such as iron ore, coal and grains,
as well as bauxite, fertilizers and steel products.  Excel owns a
fleet of 40 vessels and, together with 7 Panamax vessels under
bareboat charters, operates 47 vessels (5 Capesize, 14 Kamsarmax,
21 Panamax, 2 Supramax and 5 Handymax vessels) with a total
carrying capacity of approximately 3.9 million DWT.  Excel Class A
common shares have been listed since Sept. 15, 2005, on the New
York Stock Exchange (NYSE) under the symbol EXM and, prior to that
date, were listed on the American Stock Exchange (AMEX) since
1998.

The company blamed financial problems on low charter rates.

The balance sheet for December 2011 had assets of $2.72 billion
and liabilities totaling $1.16 billion.  Excel owes $771 million
to secured lenders with liens on almost all assets.  There is $150
million owing on 1.875 percent unsecured convertible notes.

Excel Maritime, filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 13-bk- 23060) on July 1, 2013, in New York after signing an
agreement where secured lenders owed $771 million support a
reorganization plan filed alongside the petition.

Excel, which sought bankruptcy with a number of affiliates, has
tapped Skadden, Arps, Slate, Meagher & Flom LLP, as counsel;
Miller Buckfire & Co. LLC, as investment banker; and Global
Maritime Partners Inc., as financial advisor.

A five-member official committee of unsecured creditors was
appointed by the U.S. Trustee.


EXCEL MARITIME: Hires Global Maritime as Financial Advisor
----------------------------------------------------------
Excel Maritime Carriers LTD., et al., sought and obtained
authority to employ Global Maritime Partners, Inc., as financial
advisor to be paid an $80,000 monthly and $1.15 million success
fee.

                       About Excel Maritime

Based in Athens, Greece, Excel Maritime Carriers Ltd. --
http://www.excelmaritime.com/-- is an owner and operator of dry
bulk carriers and a provider of worldwide seaborne transportation
services for dry bulk cargoes, such as iron ore, coal and grains,
as well as bauxite, fertilizers and steel products.  Excel owns a
fleet of 40 vessels and, together with 7 Panamax vessels under
bareboat charters, operates 47 vessels (5 Capesize, 14 Kamsarmax,
21 Panamax, 2 Supramax and 5 Handymax vessels) with a total
carrying capacity of approximately 3.9 million DWT.  Excel Class A
common shares have been listed since Sept. 15, 2005, on the New
York Stock Exchange (NYSE) under the symbol EXM and, prior to that
date, were listed on the American Stock Exchange (AMEX) since
1998.

The company blamed financial problems on low charter rates.

The balance sheet for December 2011 had assets of $2.72 billion
and liabilities totaling $1.16 billion.  Excel owes $771 million
to secured lenders with liens on almost all assets.  There is $150
million owing on 1.875 percent unsecured convertible notes.

Excel Maritime, filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 13-bk- 23060) on July 1, 2013, in New York after signing an
agreement where secured lenders owed $771 million support a
reorganization plan filed alongside the petition.

Excel, which sought bankruptcy with a number of affiliates, has
tapped Skadden, Arps, Slate, Meagher & Flom LLP, as counsel;
Miller Buckfire & Co. LLC, as investment banker; and Global
Maritime Partners Inc., as financial advisor.

A five-member official committee of unsecured creditors was
appointed by the U.S. Trustee.


EXCEL MARITIME: Taps Miller Buckfire as Financial Advisor
---------------------------------------------------------
Excel Maritime Carriers LTD., et al., sought and obtained
authority from the U.S. Bankruptcy Court for the Southern District
of New York to employ Miller Buckfire & Co., LLC, as financial
advisor and investment banker, to be paid a monthly financial
advisory fee of $125,000.

                       About Excel Maritime

Based in Athens, Greece, Excel Maritime Carriers Ltd. --
http://www.excelmaritime.com/-- is an owner and operator of dry
bulk carriers and a provider of worldwide seaborne transportation
services for dry bulk cargoes, such as iron ore, coal and grains,
as well as bauxite, fertilizers and steel products.  Excel owns a
fleet of 40 vessels and, together with 7 Panamax vessels under
bareboat charters, operates 47 vessels (5 Capesize, 14 Kamsarmax,
21 Panamax, 2 Supramax and 5 Handymax vessels) with a total
carrying capacity of approximately 3.9 million DWT.  Excel Class A
common shares have been listed since Sept. 15, 2005, on the New
York Stock Exchange (NYSE) under the symbol EXM and, prior to that
date, were listed on the American Stock Exchange (AMEX) since
1998.

The company blamed financial problems on low charter rates.

The balance sheet for December 2011 had assets of $2.72 billion
and liabilities totaling $1.16 billion.  Excel owes $771 million
to secured lenders with liens on almost all assets.  There is $150
million owing on 1.875 percent unsecured convertible notes.

Excel Maritime, filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 13-bk- 23060) on July 1, 2013, in New York after signing an
agreement where secured lenders owed $771 million support a
reorganization plan filed alongside the petition.

Excel, which sought bankruptcy with a number of affiliates, has
tapped Skadden, Arps, Slate, Meagher & Flom LLP, as counsel;
Miller Buckfire & Co. LLC, as investment banker; and Global
Maritime Partners Inc., as financial advisor.

A five-member official committee of unsecured creditors was
appointed by the U.S. Trustee.


EXCEL MARITIME: Files Schedules of Assets & Liabilities
-------------------------------------------------------
Excel Maritime Carriers Ltd. delivered to the U.S. Bankruptcy
Court for the Southern District of New York their schedules of
assets and liabilities disclosing the following:

                                         Assets       Liabilities
                                      -----------   --------------
A. Real Property                               $0
B. Personal Property                  $35,642,525
C. Property Claimed as Exempt                   -
D. Creditors Holding Secured Claims                  $800,549,332
E. Creditors Holding Unsecured
      Priority Claims                                          $0
F. Creditors Holding Unsecured
      Nonpriority Claims                              $233,765,187
                                      -----------   --------------
Total                                 $35,642,525   $1,034,314,519

Full-text copies of EMC Ltd.'s Schedules are available at
http://bankrupt.com/misc/EXCELleadsal0815.pdf

Excel Maritime Carries LLC also delivered with the U.S. Bankruptcy
Court for the Southern District of New York their schedules of
assets and liabilities disclosing zero assets and liabilities.

                       About Excel Maritime

Based in Athens, Greece, Excel Maritime Carriers Ltd. --
http://www.excelmaritime.com/-- is an owner and operator of dry
bulk carriers and a provider of worldwide seaborne transportation
services for dry bulk cargoes, such as iron ore, coal and grains,
as well as bauxite, fertilizers and steel products.  Excel owns a
fleet of 40 vessels and, together with 7 Panamax vessels under
bareboat charters, operates 47 vessels (5 Capesize, 14 Kamsarmax,
21 Panamax, 2 Supramax and 5 Handymax vessels) with a total
carrying capacity of approximately 3.9 million DWT.  Excel Class A
common shares have been listed since Sept. 15, 2005, on the New
York Stock Exchange (NYSE) under the symbol EXM and, prior to that
date, were listed on the American Stock Exchange (AMEX) since
1998.

The company blamed financial problems on low charter rates.

The balance sheet for December 2011 had assets of $2.72 billion
and liabilities totaling $1.16 billion.  Excel owes $771 million
to secured lenders with liens on almost all assets.  There is $150
million owing on 1.875 percent unsecured convertible notes.

Excel Maritime, filed a Chapter 11 petition (Bankr. S.D.N.Y. Case
No. 13-bk- 23060) on July 1, 2013, in New York after signing an
agreement where secured lenders owed $771 million support a
reorganization plan filed alongside the petition.

Excel, which sought bankruptcy with a number of affiliates, has
tapped Skadden, Arps, Slate, Meagher & Flom LLP, as counsel;
Miller Buckfire & Co. LLC, as investment banker; and Global
Maritime Partners Inc., as financial advisor.

A five-member official committee of unsecured creditors was
appointed by the U.S. Trustee.


EXIDE TECHNOLOGIES: Incentive Plan Approved
-------------------------------------------
BankruptcyData reported that the U.S. Bankruptcy Court approved
Exide Technologies' motion for entry of an order (I) confirming
its authority to implement an ordinary course annual incentive
plan, (II) approving implementation of its key employee incentive
plan, (III) approving implementation of its non-insider key
employee retention plan and (IV) approving continuation of its
pre-petition income protection plan.

As previously reported, "At this incipient stage of the
restructuring process, it is critical to ensure that those
employees who drive the economic success of the Debtor's
enterprise are appropriately compensated and incentivized to
deliver superlative results. In this regard, after substantial
deliberation and consultation with compensation experts from
Mercer (US), Inc. ('Mercer'), the Organization and Compensation
Committee (the 'Compensation Committee') of the Debtor's board of
directors (the 'Board') recommended, and the full Board approved,
the three employee compensation plans (collectively, the 'Employee
Compensation Plans') that are the subject of this Motion: the 2014
Annual Incentive Plan (the 'AIP'); the Key Employee Incentive Plan
(the 'KEIP'); and the Non-Insider Key Employee Retention Plan (the
'KERP'). Additionally, the Motion seeks authority for the Debtor
to continue its pre-petition income protection plan (the 'Income
Protection Plan') - a severance plan for salaried employees - as
it applies to non-insiders."

                     About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

Exide first sought Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002 and exited bankruptcy two years after.
Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq., at Kirkland &
Ellis, and James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones LLP represented the Debtors in their successful
restructuring.

Exide returned to Chapter 11 bankruptcy (Bankr. D. Del. Case No.
13-11482) on June 10, 2013.

For the new case, Exide has tapped Anthony W. Clark, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, and Pachulski Stang
Ziehl & Jones LLP as counsel; Alvarez & Marsal as financial
advisor; Sitrick And Company Inc. as public relations consultant
and GCG as claims agent.

The Debtor disclosed $1.89 billion in assets and $1.14 billion in
liabilities as of March 31, 2013.

Exide's international operations were not included in the filing
and will continue their business operations without supervision
from the U.S. courts.

The Official Committee of Unsecured Creditors is represented by
Lowenstein Sandler LLP and Morris, Nichols, Arsht & Tunnell LLP as
co counsel.  Zolfo Cooper, LLC serves as its bankruptcy
consultants and financial advisors.


EXIDE TECHNOLOGIES: Settles Differences w/ EPA Over Planned Sales
-----------------------------------------------------------------
Law360 reported that bankrupt Exide Technologies got the green
light to sell less-valuable assets without court approval after
resolving objections of environmental regulators concerned that
the process could let the battery maker unload contaminated
properties without proper oversight.

According to the report, the federal government challenged Exide's
request earlier this week on behalf of the Environmental
Protection Agency, saying that while the proposed sales process
might be fine in most bankruptcies, it was troubling in a case in
which the debtor owned upward of 60 potential contaminated
properties.

                     About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

Exide first sought Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002 and exited bankruptcy two years after.
Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq., at Kirkland &
Ellis, and James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones LLP represented the Debtors in their successful
restructuring.

Exide returned to Chapter 11 bankruptcy (Bankr. D. Del. Case No.
13-11482) on June 10, 2013.

For the new case, Exide has tapped Anthony W. Clark, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, and Pachulski Stang
Ziehl & Jones LLP as counsel; Alvarez & Marsal as financial
advisor; Sitrick And Company Inc. as public relations consultant
and GCG as claims agent.

The Debtor disclosed $1.89 billion in assets and $1.14 billion in
liabilities as of March 31, 2013.

Exide's international operations were not included in the filing
and will continue their business operations without supervision
from the U.S. courts.

The Official Committee of Unsecured Creditors is represented by
Lowenstein Sandler LLP and Morris, Nichols, Arsht & Tunnell LLP as
co counsel.  Zolfo Cooper, LLC serves as its bankruptcy
consultants and financial advisors.


EXPLO SYSTEMS: La. Explosives Deactivator Files for Bankruptcy
--------------------------------------------------------------
Katy Stech, writing for The Wall Street Journal, reported that
after an explosion, an evacuation of a small Louisiana town and a
threatened eviction, military explosives-disassembler Explo
Systems Inc. has filed for bankruptcy protection.

According to the report, company officials who put the small
business into Chapter 11 said in court papers that it has 15
million pounds of "energetic materials" -- largely M6 propellant -
- at its location on the Louisiana National Guard's Camp Minden.

That location was the site of an Oct. 15, 2012, explosion, "felt
as far away as Arkansas," according to local news reports, that
scorched trees, damaged rail cars and shattered windows of nearby
homes, the report related.

Operating under a military contract, Explo Systems workers had
been dismantling unneeded explosives, according to media reports
and federal court papers, the report said.  The company resold
explosive material "for reuse in commercial blasting operations"
and the remaining scrap metal to recyclers, according to details
in a federal lawsuit filed by its insurance company.

Authorities who later investigated the blast weren't pleased with
how Explo Systems officials were handling the explosive materials,
the report added.


FIBERTOWER CORP: Directors Could Face Suit Over FCC License Loss
----------------------------------------------------------------
Katy Stech writing for Dow Jones' DBR Small Cap reports creditors
of former telecom company FiberTower Corp. are preparing a lawsuit
against its former executives, saying that their decision to
underspend on communications projects caused FiberTower to lose a
Federal Communications Commission license for the wireless channel
spectrum in major U.S. cities.

                      About FiberTower Corp.

FiberTower Corporation, FiberTower Network Services Corp.,
FiberTower Licensing Corp., and FiberTower Spectrum Holdings
LLC filed for Chapter 11 protection (Bankr. N.D. Tex. Case Nos.
12-44027 to 12-44031) on July 17, 2012, together with a plan
support agreement struck with prepetition secured noteholders.

FiberTower is an alternative provider of facilities-based backhaul
services, principally to wireless carriers, and a national
provider of millimeter-band spectrum services.  Backhaul is the
transport of voice, video and data traffic from a wireless
carrier's mobile base station, or cell site, to its mobile
switching center or other exchange point.  FiberTower provides
spectrum leasing services directly to other carriers and
enterprise clients, and also offer their spectrum services through
spectrum brokerage arrangements and through fixed wireless
equipment partners.

FiberTower's significant asset is the ownership of a national
spectrum portfolio of 24 GHz and 39 GHz wide-area spectrum
licenses, including over 740 MHz in the top 20 U.S. metropolitan
areas and, in the aggregate, roughly 1.72 billion channel pops
(calculated as the number of channels in a given area multiplied
by the population, as measured in the 2010 census, covered by
these channels).  FiberTower believes the Spectrum Portfolio
represents one of the largest and most comprehensive collections
of millimeter wave spectrum in the U.S., covering areas with a
total population of over 300 million.

As of the Petition Date, FiberTower provides service to roughly
5,390 customer locations at 3,188 deployed sites in 13 markets
throughout the U.S.  The fixed wireless portion of these hybrid
services is predominantly through common carrier spectrum in the
11, 18 and 23 GHz bands.  FiberTower's biggest service markets are
Dallas/Fort Worth and Washington, D.C./Baltimore, with additional
markets in Atlanta, Boston, Chicago, Cleveland, Denver, Detroit,
Houston, New York/New Jersey, Pittsburgh, San Antonio/Austin/Waco
and Tampa.

As of June 30, 2012, FiberTower's books and records reflected
total combined assets, at book value, of roughly $188 million and
total combined liabilities of roughly $211 million.  As of the
Petition Date, FiberTower had unrestricted cash of roughly $23
million.  For the six months ending June 30, 2012, FiberTower had
total revenue of roughly $33 million.  With the help of FTI
Consulting Inc., FiberTower's preliminary valuation work shows
that the Company's enterprise value is materially less than $132
million -- i.e., the approximate principal amount of the 9.00%
Senior Secured Notes due 2016 outstanding as of the Petition Date.
The preliminary valuation work is based upon the assumption that
FiberTower's spectrum licenses will not be terminated.  Fibertower
Spectrum disclosed $106,630,000 in assets and $175,501,975 in
liabilities as of the Chapter 11 filing.

Judge D. Michael Lynn oversees the Chapter 11 case.  Lawyers at
Andrews Kurth LLP serve as the Debtors' lead counsel.  Lawyers at
Hogan Lovells and Willkie Farr and Gallagher LLP serve as special
FCC counsel.  FTI Consulting serve as financial advisor.  BMC
Group Inc. serve as claims and noticing agent.  The petitions were
signed by Kurt J. Van Wagenen, president.

Wells Fargo Bank, National Association -- as indenture trustee and
collateral agent to the holders of 9.00% Senior Secured Notes due
2016 owed roughly $132 million as of the Petition Date -- is
represented by Eric A. Schaffer, Esq., at Reed Smith LLP.  An Ad
Hoc Committee of Holders of the 9% Secured Notes Due 2016 is
represented by Kris M. Hansen, Esq., and Sayan Bhattacharyya,
Esq., at Stroock & Stroock & Lavan LLP.  Wells Fargo and the Ad
Hoc Committee also have hired Stephen M. Pezanosky, Esq., and Mark
Elmore, Esq., at Haynes and Boone, LLP, as local counsel.

U.S. Bank, National Association -- in its capacity as successor
indenture trustee and collateral agent to holders of the 9.00%
Convertible Senior Secured Notes due 2012, owed $37 million as of
the Petition Date -- is represented by Michael B. Fisco, Esq., at
Faegre Baker Daniels LLP, as counsel and J. Mark Chevallier, Esq.,
at McGuire Craddock & Strother PC as local counsel.

William T. Neary, the U.S. Trustee for Region 6 appointed five
members to the Official Committee of Unsecured Creditors in the
Debtors' cases.  The Committee is represented by Otterbourg,
Steindler, Houston & Rosen, P.C., and Cole, Schotz, Meisel, Forman
& Leonard, P.A.  Goldin Associates, LLC serves as its financial
advisors.

In May 2013, FiberTower sought and obtained Court authority to
sell their telecommunications equipment and employ American
Communications, LLC, as telecommunications equipment reseller.
According to the Debtors, the telecommunications equipment, which
was a part of their backhaul business, is no longer necessary in
the conduct of their business.  They, however, believe that the
equipment may have resale value that would benefit their estates.

In February 2013, FiberTower filed with the Court a motion to sell
assets that are primarily utilized by the Debtors to provide
wireless backhaul services in the State of Ohio to Cellco
Partnership (dba Verizon Wireless) free and clear for $1.5
million.  Verizon Wireless will also pay the pre-closing, monthly
operating costs incurred by the Debtors in connection with
operating the business in an amount not to exceed $258,000 per
month and a monthly fee of $20,000 for certain transition services
relating to the assets following the closing.


FLAMINGO PRODUCTS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Flamingo Products Of South Florida, Inc.
        3095 E. 11th Avenue
        Hialeah, FL 33013

Bankruptcy Case No.: 13-29272

Chapter 11 Petition Date: August 14, 2013

Court: U.S. Bankruptcy Court
       Southern District of Florida (Miami)

Judge: A. Jay Cristol

Debtor's Counsel: Diego Mendez, Esq.
                  MENDEZ LAW OFFICES, PLLC
                  P.O. Box 228630
                  Miami, FL 33172
                  Tel: (305) 264-9090
                  Fax: (305) 264-9080
                  E-mail: info@mendezlawoffices.com

Scheduled Assets: $1,129,294

Scheduled Liabilities: $7,859,636

Affiliate that simultaneously filed for Chapter 11:

        Debtor                     Case No.
        ------                     --------
Flamingo Realty Holdings, LLC      13-29299
  Assets: $1,720,000
  Debts: $648,532

The petitions were signed by Tony Arias, president.

A. Flamingo Products of South Florida, Inc.'s list of its 20
largest unsecured creditors filed with the petition is available
for free at http://bankrupt.com/misc/flsb13-29272.pdf

B. Flamingo Realty Holdings, LLC's list of its largest unsecured
creditors filed with the petition contains only one entry:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
US Small Business Administration   --                      $42,163
Disaster Assisrance
14925 Kingsport Road
Fort Worth, TX 76155


FULLCIRCLE REGISTRY: Incurs $179,000 Net Loss in Second Quarter
---------------------------------------------------------------
FullCircle Registry, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $179,000 on $477,043 of revenues for the three
months ended June 30, 2013, as compared with a net loss of $91,962
on $468,996 of revenues for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $206,984 on $931,344 of revenues, as compared with a net
loss of $160,204 on $913,639 of revenues for the same period a
year ago.

The Company reported a net loss of $369,784 on $1.9 million of
revenues in 2012, compared with a net loss of $570,302 on
$1.3 million of revenues in 2011.

As of June 30, 2013, the Company had $5.97 million in total
assets, $6.04 million in total liabilities and a $69,738 total
stockholders' deficit.

A copy of the Form 10-Q is available for free at:

                        http://is.gd/H2YPXd

                      About FullCircle Registry

Shelbyville, Kentucky-based FullCircle Registry, Inc., targets the
acquisition of small profitable businesses.   FullCircle Registry,
Inc., has become a holding company with three subsidiaries.  They
are FullCircle Entertainment, Inc., FullCircle Insurance Agency,
Inc. and FullCircle Prescription Services, Inc.  Target companies
for future acquisition are those in search of exit plans for the
owners and are intended to continue autonomous operations as
current ownership is phased out over a period of 3-5 years.

In its report on the consolidated financial statements for the
year ended Dec. 31, 2012, Rodefer Moss & Co., PLLC, in New Albany,
Indiana, expressed substantial doubt about FullCircle Registry's
ability to continue as a going concern, citing the Company's
recurring losses from operations and net working capital
deficiency.


FURNITURE BRANDS: Paul Hastings, Miller Buckfire on Board
---------------------------------------------------------
The Wall Street Journal's Emily Glazer and Patrick Fitzgerald
report that people familiar with the matter said St. Louis-based
Furniture Brands International Inc., one of the nation's largest
home furniture makers, has tapped restructuring lawyers and
advisers to deal with its debt load.  The report says Furniture
Brands is working with law firm Paul, Hastings, Janofsky and
Walker LLP, investment bank Miller Buckfire & Co. and turnaround
firm Alvarez & Marsal to address its debts and low cash flow amid
a struggling U.S. furniture market.  The sources said the advisers
are examining several alternatives, one of which could be a
Chapter 11 bankruptcy restructuring, though the situation is still
fluid.

According to WSJ, some of the sources said some creditors are
being advised by law firm Kirkland & Ellis LLP and restructuring
advisers FTI Consulting Inc.

WSJ says representatives for Furniture Brands, which sells under
the Broyhill, Lane, Drexel Heritage and Thomasville names, didn't
respond to requests for comment.

In a regulatory filing earlier in August, Furniture Brands said it
is pursuing a number of cost-cutting strategies, including
"facility consolidation, reductions in force and reductions in
controllable costs."  The company also said in the filing it's
"exploring options with our lenders to modify our credit
facilities to improve our liquidity," which now stands at about
$45 million.

According to the report, one of these people said Furniture
Brands' debt includes a $50 million term loan from Pathlight
Capital, an affiliate of private-equity firm Sycamore Partners.
Pathlight assigned the loan to investment firm Oaktree Capital
Management earlier this year.  Wells Fargo & Co., Bank of America
Corp. and General Electric Co. unit GE Capital agreed to provide
Furniture Brands with up to $200 million in financing under an
asset-based revolving loan several months ago.


GATEHOUSE MEDIA: Looming Default Cues Moody's to Cut PDR to Ca-PD
-----------------------------------------------------------------
Moody's Investors Service downgraded GateHouse Media Operating,
Inc.'s Probability of Default Rating to Ca-PD from Caa3-PD. The
Corporate Family Rating and facility rate were affirmed at Ca. The
rating action reflects the potential for a default if the company
is successful in its attempt to proactively restructure its
balance sheet or at the maturity of its term loans in August 2014.
The company could also default if it receives a going concern
opinion from its auditors when GateHouse files their 2013 audited
financial statements if the default is not waived by its lenders.
The rating outlook was changed to negative from stable.

Details of the rating action are as follows:

Issuer: GateHouse Media Operating, Inc.

  Probability of Default Rating, Downgraded to Ca-PD from Caa3-PD

  Corporate Family Rating affirmed at Ca

  Senior secured term loan B -- affirmed at Ca, LGD4, 64% (point
  estimated adjusted down from 65%)

  Senior secured term loan C -- affirmed at Ca, LGD4, 64% (point
  estimate adjusted down from 65%)

  Senior secured delayed draw term loan -- affirmed at Ca, LGD4,
  64% (point estimate adjusted down from 65%)

  Outlook, changed to negative from stable

Ratings Rationale:

GateHouse's Ca CFR reflects the extremely leverage capital
structure of 15.2x (as of Q2 2013 including Moody's standard
adjustments) which Moody's anticipates will lead to poor recovery
prospects for debt holders given current valuation multiples.
Operating performance is expected to continue to be challenged by
negative secular trends in the newspaper industry which will
pressure revenue and cash flows. The company has reduced costs and
consolidated operations, but ongoing declines, particularly in its
Advertising segment which accounts for almost 70% of 2012 FY
revenue continue to drive EBITDA lower due to both reduced
advertising and classified revenues. Management has invested in
new digital and marketing initiatives to offset declines in print
and diversify operations, but the additional expenses of these
initiatives also weigh on EBITDA in the near term. Subscription
revenue has been relatively flat due to the bundling of print and
digital offerings, in addition to rising prices that has largely
offsets modest subscriber declines. However, given that
subscriptions generate only 27% of total revenue (as of FY 2012),
it will not be enough to avoid a default of its existing capital
structure.

GateHouse's sources of liquidity consist of cash on hand ($25.5
million at the end of Q2 2013) plus cash generated from
operations. Given that a revolver draw requires pro forma
compliance with a 6.5x total leverage ratio test (as defined), the
company is not able to draw under its $20 million revolving credit
facility. Therefore, the company relies on balance sheet cash and
internally generated cash flow to meet near-term funding needs.
There is no scheduled amortization under the term loans, however,
the company is subject to a 50% excess cash flow recapture
provision and paid $6.6 million in March 2013 based on excess cash
flow for FY2012. Gatehouse generated free cash flow of
approximately $10 million over the last twelve months ending Q2
2013.

The negative rating outlook reflects Moody's view that the
probability of a near-term default is high due to the
unsustainable capital structure and negative secular trends in the
newspaper industry.

Moody's does not believe an upgrade to the ratings based on the
existing capital structure is likely. The PDR will be downgraded
to D-PD from Ca-PD upon an agreement with lenders for a
restructuring of its capital structure, the receipt of a going
concern opinion when it files its 2013 audited statements that is
not waived by lenders, or a payment default at maturity.

The principal methodology used in this rating was Global
Publishing Industry published in December 2011. Other
methodologies used include Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA
published in June 2009.

With its headquarters in Fairport, New York, GateHouse Media
Operating, Inc. is one of the largest publishers of locally based
print and online media (newspaper and related publications) as
measured by the number of daily publications. Fortress Investment
Group LLC and its affiliates beneficially own approximately 39.6%
of outstanding common stock and 54.8% of the outstanding credit
facility. The company recorded sales of approximately $478 million
for the twelve month period ended June 30, 2013. GateHouse
publishes 77 daily newspapers, 235 weekly newspapers, 91 shoppers,
and six yellow page directories in addition to operating over 343
locally focused websites.


GROWTHWORKS CANADIAN: Roseway Waives Security Agreement Default
---------------------------------------------------------------
GrowthWorks Canadian Fund Ltd. on Aug. 16 disclosed that it has
entered into a fifth amendment to the Participation Agreement
dated May 28, 2010 with Roseway Capital S.a.r.l. whereby a payment
of $20 million that was payable to Roseway on August 16, 2013 will
now become payable on September 3, 2013 and a further $5.7 million
will become payable to Roseway by Sept. 10, 2013.  Those amounts
will bear interest at the rate of 18% per annum from the date on
which they were originally payable by Canadian Fund. Canadian Fund
continues to be engaged in active discussions with Roseway
regarding a possible further, longer-term extension of those
payment obligations, as well as amendments to certain other terms
of the Participation Agreement and the security agreement in favor
of Roseway which grants a charge over certain portfolio and other
assets of the Fund.  In connection with this amendment, Roseway
has also waived until September 4, 2013 a default under the
Security Agreement tied to the Fund maintaining a minimum net
asset value.  Canadian Fund cannot assure investors that these
discussions will result in any further extension of the dates by
which Canadian Fund must make those payments or that Canadian Fund
will have sufficient funds to pay those amounts when due.

If Canadian Fund were to default on its obligations under the
Participation Agreement or an event of default were to occur under
the Security Agreement, the security held by Roseway over Canadian
Fund's assets may be enforced by Roseway, which could result in
forced divestments of some or all of those assets at values well
below carrying values and a significant decline in the values of
Class A shares of the Fund.

The Board of Directors of Canadian Fund continues to review, with
the assistance of its independent financial and legal advisors,
the strategic alternatives available to Canadian Fund.

Canadian Fund also announced that it has repaid in full its loan
obligations to Matrix Asset Management Inc. of $4 million plus
accrued and unpaid interest.

GrowthWorks Canadian Fund Ltd., L.P. specializes in early-stage
and growth capital.  It also supports companies through to
maturity.  The fund seeks to invest in small to medium sized
companies.  It seeks to invest in information technology; life
sciences; advanced manufacturing; clean technology;
communications; media; transportation; medical products and health
services; specialty merchandising; computer systems and software;
lodging; financial, professional, and personal services; and
training and education sectors.  The fund prefers to invest in
private companies based in Canada with a focus on Ontario,
Saskatchewan, and Manitoba.


HAYDEL PROPERTIES: Parties Want Plan Confirmation Denied
--------------------------------------------------------
Parties-in-interest have objected to the confirmation of Haydel
Properties, LP's Amended Plan of Reorganization.

Hancock Bank, through its counsel William P. Wessler, Esq., stated
that, among other things:

   -- the property securing the loan cannot not be sold for an
      amount less than the total amount of the debt, which is
      presently $119,997, not including attorneys fees and costs;

   -- the property is a vacant tract of land which produces no
      income;

   -- the language concerning a possible surrender of the property
      to the Bank at the end of the year, if not sold by then, is
      vague and ambiguous and needs to be clarified; and

   -- the proposed modification of the interest rate on the claim
      is objectionable.

The Peoples Bank in Biloxi, Mississippi, asserted that, among
other things:

   -- the Plan does not treat the Bank fairly and equitably;

   -- the Debtors have failed to provide supplemental information
      as mandated by the Court;

   -- the Plan is incapable of being confirmed due to the Debtor's
      default as it is too vague and speculative; and

   -- the Plan imposes undue burdens upon the Bank in the event of
      default.

Les W. Smith, Esq. -- Les.Smith@pmp.org -- at Page, Mannino,
Peresich, & McDermott, P.L.L.C., represents The Peoples Bank.

BancorpSouth Mortgage Center, through its counsel Laura Henderson-
Courtney, Esq. -- lhc@underwoodlawfirm.com -- said the Debtor
proposes to re-amortize the three loans of BancorpSouth Mortgage
over a period of 25 years.  The proposal is neither fair nor
equitable.  BancorpSouth added that the Plan is vague and
speculative in that it does not provide any specific provisions as
to default, or BancorpSouth Mortgage's remedies in the event of
default.

BancorpSouth Bank, through Les W. Smith, Esq., at Page, Mannino,
Peresich, & McDermott, P.L.L.C., also object to the confirmation
of the Debtor's Amended Plan stating that the Debtors had failed
to provide supplemental information as mandated by the Court in
its order approving Disclosure Statement entered June 7, 2013.

                             The Plan

As reported in the Troubled Company Reporter on July 3, 2013, the
Court has approved the First Amended Disclosure Statement dated
Feb. 21, 2013, explaining the Debtor's Plan.  The Court also
approved the changes by agreement with the objecting parties,
People's Bank and BancorpSouth Bank.

A copy of the changes is available for free at
http://bankrupt.com/misc/HAYDELPROPERTIES-ds-order.pdf

As reported by the TCR on April 24, 2013, BancorpSouth Bank and
The Peoples Bank, in Biloxi, Mississippi, objected to the approval
of the first amended disclosure statement for Haydel's proposed
Chapter 11 Plan.

As reported by the TCR on April 4, 2013, according to the first
amended disclosure statement, the Plan was conceived by management
as an alternative to the more drastic measures available for
restructuring the Company's debt, such as total liquidation of
equipment and properties.  The Debtor will continue to operate
the rental business and market numerous parcels of real property.
A part of the Debtor's plan is the intent to sell a number of
parcels of real property owned by the Debtor.  The Debtor has
entered into a listing agreement with Jonathan Bell of Cameron
Bell Properties and Coldwell Banker Aphonso Realty to lease or
sell multiple parcels of real property.

The Debtor has said there are sufficient funds to make the
repairs on the downtown Gulfport building and repairs to a parcel
on Eisenhower Drive.  The Debtor believes that the Plan is
feasible.  If there be unexpected expenses and there be a
shortfall in income, the equity security holders will make capital
contributions to cover any shortfall.

A copy of the Amended Disclosure Statement is available for free
at http://bankrupt.com/misc/HAYDEL_PROPERTIES_ds_1amended.pdf

                    About Haydel Properties LP

Haydel Properties LP, based in Biloxi, Mississippi, filed for
Chapter 11 bankruptcy (Bankr. S.D. Miss. Case No. 12-50048) on
Jan. 11, 2012.  Judge Katharine M. Samson presides over the case.
Christy Pickering serves as accountant.  The Debtor disclosed
$11.7 million in assets and $6.8 million in liabilities as of the
Chapter 11 filing.

Patrick A. Sheehan, Esq.; and Robert Gambrell, Esq., at Gambrell &
Associates, PLLC represent the Debtor in its restructuring effort.


HERON LAKE: Project Viking Held 63.3% of A & B Units at July 31
---------------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Granite Falls Energy, LLC, and Project
Viking, L.L.C., disclosed that as of July 31, 2013, they
beneficially owned 39,080,949 shares of Class A and Class B units
of Heron Lak Bioenergy, LLC, representing 63.3 percent of the
shares outstanding.

On July 31, 2013, the Company issued 15,000,000 Class B Units and
8,075,000 Class A Units to Project Viking, at a price of $0.30 per
Unit, or $6,922,500 in the aggregate, pursuant to that certain
Subscription Agreement Including Investment Representations dated
July 31, 2013, between the Company and Project Viking.

A copy of the regulatory filing is available for free at:

                        http://is.gd/7UC1RO

                          About Heron Lake

Heron Lake BioEnergy, LLC, operated a dry mill, coal fired ethanol
plant in Heron Lake, Minnesota.  After completing a conversion in
November 2011, the Company is now a natural gas fired ethanol
plant.  Its subsidiary, HLBE Pipeline Company, LLC, owns 73
percent of Agrinatural Gas, LLC, the pipeline company formed to
construct, own, and operate a natural gas pipeline that provides
natural gas to the Company's ethanol production facility through a
connection with the natural gas pipeline facilities of Northern
Border Pipeline Company in Cottonwood County, Minnesota.  Its
subsidiary, Lakefield Farmers Elevator, LLC, has grain facilities
at Lakefield and Wilder, Minnesota.  At nameplate, the Company's
ethanol plant has the capacity to process approximately 18.0
million bushels of corn each year, producing approximately 50
million gallons per year of fuel-grade ethanol and approximately
160,000 tons of distillers' grains with soluble.

In its report on the Company's financial statements for the fiscal
year ended Oct. 31, 2012, Boulay, Heutmaker, Zibell & Co.
P.L.L.P., in Minneapolis, Minnesota, expressed substantial doubt
about Heron Lake BioEnergy's ability to continue as a going
concern.  The independent auditors noted that the Company has
incurred losses due to difficult market conditions and the
impairment of long-lived assets.  "The Company is out of
compliance with its master loan agreement and is operating under a
forbearance agreement whereby the Company agreed to sell
substantially all of its assets."

The Company reported a net loss of $32.35 million for the year
ended Oct. 31, 2012, as compared with net income of $543,017 for
the year ended Oct. 31, 2011.  As of April 30, 2013, the Company
had $59.78 million in total assets, $44.05 million in total
liabilities and $15.72 million in total members' equity.

                         Bankruptcy Warning

At Jan. 31, 2013, the Company's total indebtedness to AgStar was
approximately $41.1 million.  All of the Company's assets and real
property are subject to security interests and mortgages in favor
of AgStar as security for the obligations of the master loan
agreement.  The Company's failure to pay any required installment
of principal or interest or any other amounts payable under the
Company's Term Loan or Term Revolving Loan or the Company's
failure to perform or observe any covenant under the Sixth Amended
and Restated Master Loan Agreement would result in an event of
default, entitling AgStar to accelerate and declare due all
amounts outstanding under the Company's Term Loan and its Term
Revolving Loan.

"Upon the occurrence of any one or more Events of Default, as
defined under the Sixth Amended and Restated Forbearance
Agreement, including failure to observe any of the financial or
affirmative covenants...AgStar may accelerate all of our
indebtedness and may seize the assets that secure our
indebtedness, causing us to lose control of our business.  We may
also be forced to sell our assets, restructure our indebtedness,
submit to foreclosure proceedings, cease operations or seek
bankruptcy or reorganization protection," according to the
Company's quarterly report for the three months ended Jan. 31,
2013.


HIGHWAY TECHNOLOGIES: Gets Nod on Settlement, $3MM DIP Loans
------------------------------------------------------------
Law360 reported that a Delaware bankruptcy judge gave the final OK
to Highway Technologies Inc.'s $3 million post-petition loan, and
a global settlement among creditors over the objections to the
agreement from the U.S. Trustee's Office, which argued the terms
turned the Bankruptcy Code "on its head."

According to the report, U.S. Bankruptcy Judge Kevin J. Carey said
he labored over his decision, weighing two scenarios: one where he
approves a settlement that would allow unsecured creditors to see
at least some money, and another where he rejects it.

                    About Highway Technologies

Highway Technologies Inc. and affiliate HTS Acquisition Inc.
sought Chapter 11 protection (Bankr. D. Del. Case No. 13-11325 to
13-11326) on May 22, 2013, to conduct an orderly liquidation.

Richard M. Pachuiski, Esq., at Pachulski Stang Ziehl & Jones LLP,
serves as counsel to the Debtors.  Kurtzman Carson Consultants LLC
is the claims and notice agent.

The prepetition lenders are represented by David M. Hilllman,
Esq., at Schulte Roth & Zabel, in New York.

The company's balance sheet as of March 31, 2013, showed
$55 million in total assets and $102 million in liabilities.

Richards, Layton & Finger, P.A. represents the Official Unsecured
Creditors' Committee as counsel.  Gavin/Solmonese LLC serves as
its financial advisor.


HOWREY LLP: Strikes $41MM Deal with BakerHostetler
--------------------------------------------------
Law360 reported that the Chapter 11 trustee for Howrey LLP asked a
California federal judge to approve a settlement with
BakerHostetler, as well as former Howrey partners Baker hired,
that will immediately provide $41 million to pay off the Howrey
bankruptcy estate's debt.

According to the report, the money will come from about $100
million in attorneys' fees that were awarded in three antitrust
class actions filed by dairy farmers against Dean Foods, dairy
industry groups and others. The cases were originated at Howrey by
attorneys who later joined Baker, the report related.

                         About Howrey LLP

Three creditors filed an involuntary Chapter 7 petition (Bankr.
N.D. Cal. Case No. 11-31376) on April 11, 2011, against the
remnants of the Washington-based law firm Howrey LLP.  The filing
was in San Francisco, where the firm had an office.  The firm
previously was known as Howrey & Simon and Howrey Simon Arnold &
White LLP.  The firm at one time had more than 700 lawyers in 17
offices.  The partners voted to dissolve in March 2011.

The firm specialized in antitrust and intellectual-property
matters.  The three creditors filing the involuntary petition
together have $36,600 in claims, according to their petition.

The involuntary chapter 7 petition was converted to a chapter 11
case in June 2011 at the request of the firm.  In its schedules
filed in July, the Debtor disclosed assets of $138.7 million and
liabilities of $107.0 million.

Representing Citibank, the firm's largest creditor, is Kelley
Cornish, Esq., a partner at Paul, Weiss, Rifkind, Wharton &
Garrison.  Representing Howrey is H. Jason Gold, Esq., a partner
at Wiley Rein.

The Official Committee of Unsecured Creditors is represented in
the case by Bradford F. Englander, Esq., at Whiteford, Taylor And
Preston LLP.

In September 2011, Citibank sought conversion of the Debtor's case
to Chapter 7 or, in the alternative, appointment of a Chapter 11
Trustee.  The Court entered an order appointing a Chapter 11
Trustee. In October 2011, Allan B. Diamond was named as Trustee.


HULDRA SILVER: Obtains First Tranche of DIP Financing Loan
----------------------------------------------------------
Garth Braun, CFO & Director of Huldra Silver Inc., on behalf of
the Board of Directors, on Aug. 16 disclosed that it has obtained
a secured debtor-in-possession loan from Waterton Global Value,
L.P., the primary secured creditor of the Company, pursuant to a
credit agreement dated August 15, 2013.  The DIP Loan was
authorized by an initial order of the Supreme Court of British
Columbia pursuant to the proceedings under the Companies'
Creditors Arrangement Act (Canada) ("CCAA") previously announced
in the Company's news release dated July 26, 2013.

Garth Braun, Chief Financial Officer and Director, stated: "The
Company's strong relationship with Waterton has resulted in the
parties working collaboratively during the CCAA process and in
achieving the DIP Loan.  The Company will have to work
collaboratively with all other stakeholders during the CCAA
process in order to maximize value for all stakeholders."

Credit Agreement

Under the terms of the Credit Agreement, the DIP Loan will be
advanced by Waterton by way of a first advance, which will be
advanced in several tranches, of up to $2,300,000 in aggregate and
a second advance (at Waterton's sole absolute discretion) of up to
$2,500,000 in aggregate upon receipt by Waterton of a
comprehensive plan of operations from the Company for the Treasure
Mountain Property that is satisfactory to Waterton and its
advisors, all on the terms and conditions set out in the Credit
Agreement.  The Company has agreed to repay the DIP Loan in full
as follows: if the First Advance (but not the Second Advance) is
advanced, then on the date which is four months after the date the
First Advance is advanced by Waterton to the Company under the
Credit Agreement; and if both Advances are advanced, then in
accordance with an amortized repayment schedule to be determined
by Waterton which reasonably corresponds to the Plan.  Each
tranche of each Advance is subject to a number of conditions as
set out in the Credit Agreement.

Under the first tranche of the First Advance, the Company drew
down $1,189,024, of which $502,671 was used to re-pay the
principal and interest owed to Waterton pursuant to a $500,000
promissory note dated July 8, 2013, $115,000 of which was used to
pay the costs and expenses of Waterton pursuant to the Credit
Agreement, and the balance of $571,353 was advanced to the
Company.  The proceeds of the first tranche will allow the Company
to continue its care and maintenance program at its mine and mill
while attempting to restructure its financial affairs.

Under the terms of the Credit Agreement, the obligations of the
Company in connection with the DIP Loan have been secured by a
super-priority court-ordered charge over all present and after-
acquired property, assets and undertakings of the Company, and by
guarantees of each of the Company's subsidiaries in favor of
Waterton.  The Charge shall rank in priority to all other
creditors, interest holders, lien holders and claimants of any
kind whatsoever, subject only to an administrative charge in favor
of the Monitor and its counsel in an amount up to $300,000, and a
lien with respect to certain of the Company's leased premises in
an amount up to $25,000.  The Company and its subsidiaries have
entered into certain ancillary agreements to secure the
obligations of the Company under the DIP Loan, including general
security agreements, share pledge agreements with respect to the
shares of the subsidiaries, and debentures with respect to the
properties and mineral interests owned by Company and its
subsidiaries.  The Company also agreed to certain covenants and
negative covenants as set out in the Credit Agreement.  The Credit
Agreement contains a number of events of default, including
without limitation, the failure to make any payment to Waterton
when due, the breach of, or failure to perform or observe any
covenant, the failure to pay any other debt exceeding $50,000 when
due, the failure to perform any material agreement, any judgment
or order for the payment of money in excess of $50,000.00 being
rendered against the Company, certain events happening in the CCAA
proceeding and a number of other enumerated events.

Any advances under the DIP Loan are repayable in an amount in cash
equal to the aggregate of the following payments: (a) the amount
arrived at when (i) dividing the amount being repaid by 76.5% of
the spot price of silver on the business day immediately preceding
such repayment date and (ii) multiplying the result thereof by
such spot price; and (b) the Profit Participation Amount (as
calculated pursuant to the Credit Agreement) relating to such
repayment date.

The DIP Loan has received conditional approval of the TSX Venture
Exchange and remains subject to final TSXV approval.

Royalty Agreement

In connection with and as partial consideration for the DIP Loan,
the Company also entered into a Royalty Agreement with Waterton,
whereby the Company granted to Waterton a 2% net smelter return
royalty on the production of all minerals from the Treasure
Mountain Property.  The Royalty will be terminated if: no amounts
are drawn by the Company under the DIP Loan on or before August
22, 2013; and the Company repays Waterton in full all amounts
owing under the original credit agreement dated June 16, 2011
between the Company and Waterton, the term sheet dated July 23,
2013 between the Company and Waterton and the Credit Agreement on
or before August 22, 2013.

CCAA Proceeding

CCAA protection stays creditors and others from enforcing rights
against Huldra and affords Huldra the opportunity to continue
attempting to restructure its financial affairs.  The Court has
granted CCAA protection for an initial period of 30 days, expiring
August 26, 2013, to be extended thereafter as the Court deems
appropriate.  While under CCAA protection, Huldra will continue
attempting to restructure its financial affairs and recommence
operations at its mine and mill under the supervision of the
Monitor.  The Monitor will also be responsible for reviewing
Huldra's ongoing operations, liaising with creditors and other
stakeholders and reporting to the Court.

The Monitor will continue to work with the Company to develop a
plan of compromise or arrangement with one or more of the
Company's classes of creditors pursuant to the CCAA and the
Business Corporations Act (British Columbia).

Strategic Advisory Agreement

The Company also disclosed that it intends to enter into an
agreement with Haywood Securities Inc. whereby Haywood would
provide strategic advisory services to the Company, including the
identification of alternatives to resolve the Company's current
debt obligations and to unlock value from the Company's assets.
The Company intends to pay Haywood a work fee and success fee
depending on the outcome of the services provided.  The terms of
the agreement with Haywood are still being negotiated and may
change.  The final agreement is subject to the TSXV Approval.

                        About Huldra

Headquartered in Vancouver, Canada, Huldra Silver Inc. --
http://www.huldrasilver.com/-- is a junior exploration company
engaged in the business of acquiring, exploring and developing
mineral and natural resource properties.


IDERA PHARMACEUTICALS: Regains Compliance with $1 Bid Price Rule
----------------------------------------------------------------
Idera Pharmaceuticals, Inc., has received formal notice from the
Listing Qualifications Staff of the Nasdaq Stock Market that the
Company has regained compliance with the $1.00 minimum bid price
requirement, as set forth in Nasdaq Listing Rule 5550(a)(2).
On May 29, 2013, the Staff had notified the Company that its
common stock had failed to maintain the minimum bid price of $1.00
as required by Nasdaq Listing Rule 5550(a)(2).

The Staff notice confirmed that the matter has been closed.  With
the closing of this matter, the Company is now in compliance with
all requirements for continued listing on the Nasdaq Capital
Market.

                    About Idera Pharmaceuticals

Cambridge, Massachusetts-based Idera Pharmaceuticals, Inc., is a
clinical stage biotechnology company engaged in the discovery and
development of novel synthetic DNA- and RNA-based drug candidates
that are designed to modulate immune responses mediated through
Toll-like Receptors, or TLRs.  The Company has two drug
candidates, IMO-3100, a TLR7 and TLR9 antagonist, and IMO-8400, a
TLR7, TLR8, and TLR9 antagonist, in clinical development for the
treatment of autoimmune and inflammatory diseases.

In the auditors' report on the consolidated financial statements
for the year ended Dec. 31, 2012, Ernst & Young LLP, in Boston,
Mass., expressed substantial doubt about Idera's ability to
continue as a going concern, citing recurring losses and negative
cash flows from operations and the necessity to raise additional
capital or alternative means of financial support, or both, prior
to Dec. 31, 2013, in order to continue to fund its operations.

The Company reported a net loss of $19.2 million on $51,000 of
revenue in 2012, compared with a net loss of $23.8 million on
$53,000 of revenue in 2011.  Revenue in 2012 and 2011 consisted of
reimbursement by licensees of costs associated with patent
maintenance.

The Company's balance sheet at March 31, 2013, showed
$6.81 million in total assets, $4.10 million in total liabilities,
$5.92 million in series D redeemable convertible preferred stock,
and a $3.21 million total stockholders' deficit.


INDYMAC BANCORP: FDIC Asks 9th Circ. to Open Up $80MM D&O Policies
------------------------------------------------------------------
Law360 reported that IndyMac Bancorp Inc.'s bankruptcy trustee,
the Federal Deposit Insurance Corp. and former IndyMac executives
pressed the Ninth Circuit to open the door to $80 million in
directors and officers coverage, arguing that insurers could not
show an exclusion for interrelated acts applied.

According to the report, in three separate briefs, they made
another plea to the Ninth Circuit in a case challenging a
California federal judge's decision to nix coverage for securities
and other suits against failed mortgage lender IndyMac and its
subsidiary IndyMac Bank FSP.

                      About Indymac Bancorp

Based in Pasadena, California, IndyMac Bancorp Inc. (NYSE:IMB) --
http://www.indymacbank.com/-- is the holding company for IndyMac
Bank FSB, a hybrid thrift/mortgage bank that originated mortgages
in all 50 states of the United States.  Through its hybrid thrift-
mortgage bank business model, IndyMac designed, manufactured, and
distributing cost-efficient financing for the acquisition,
development, and improvement of single-family homes.  IndyMac also
provided financing secured by single-family homes to facilitate
consumers' personal financial goals and strategically invests in
single-family mortgage-related assets.

On July 11, 2008, the Office of Thrift Supervision closed IndyMac
Bank and appointed FDIC as the bank's receiver.  Thacher Proffitt
& Wood LLP was engaged as counsel to the FDIC.

Indymac Bancorp filed for Chapter 7 bankruptcy protection (Bankr.
C.D. Calif., Case No. 08-21752) on July 31, 2008.  Representing
the Debtor are Dean G. Rallis, Jr., Esq., and John C. Weitnauer,
Esq.  Bloomberg noted that Indymac had about $32.01 billion in
assets as of July 11, 2008.  In court documents, IndyMac disclosed
estimated assets of $50 million to $100 million and estimated
debts of $100 million to $500 million.


INTELLICELL BIOSCIENCES: Obtains TRO on Assets Sale
---------------------------------------------------
Justice Sherwood, Justice of the Supreme Court, New York County,
has granted Intellicell Biosciences, Inc.'s motion for temporary
restraining order thereby restraining any sale of the Company's
assets.  An oral argument on the matter was held Aug. 9, 2013.

A Summons and Complaint was filed along with a Motion for a
Temporary Restraining Order before the Supreme Court on Aug. 8,
2013, under the caption Intellicell Biosciences, Inc. v Ironridge
Global IV, LTD., and TCA Global Credit Master Fund, LP, Index No.
652800/13.  The Motion sought to restrain the sale of the
Company's assets.

As previously reported, on July 15, 2013, while the Company was
finalizing an amendment and waiver to the Convertible Promissory
Note issued by the Company in favor of TCA Global Credit Master
Fund, LP, on June 7, 2012, in the principal amount of $500,000,
the Company was advised that Ironridge Global IV, LTD, led by Mr.
John C. Kirkland, Esq., purportedly purchased the Note from TCA.
On July 29, 2013, the Company received from Ironridge, a Notice of
Default and a Notice of Foreclosure and Sale.  On July 31, 2013,
the Company received from TCA the same Notice of Foreclosure and
Sale that it had previously received from Ironridge.

The Complaint and Motion alleged that Irondridge and TCA served
the Notices of Foreclosure and Sale, both claiming to be the
"Secured Party" of the same assets.

The Complaint seeks a judicial determination as to: (i) which of
the Defendants is the actual Secured Party (and Note holder) and
(ii) the actual amount of the debt outstanding pursuant to the
Note.  Additionally, once the Court determines which party is the
true Note holder and Secured Party, and a true calculation of the
outstanding debt is made, the Company, which is currently holding
funds in escrow, is requesting that the Court order that Defendant
to accept payment of said outstanding debt in full satisfaction on
the Note.

Given that the Defendants asserted that they would sell the
secured assets of the Company at auction on Aug. 12, 2013, the
Motion sought to temporarily restrain both parties from so doing.

The Court further ruled that the Temporary Restraining Order will
remain in effect until Aug. 26, 2013, at which time a subsequent
hearing on the Motion will be heard.

                   About Intellicell Biosciences

Intellicell BioSciences, Inc., headquartered in New York, N.Y.,
was formed on Aug. 13, 2010, under the name "Regen Biosciences,
Inc." as a pioneering regenerative medicine company to develop and
commercialize regenerative medical technologies in large markets
with unmet clinical needs.  On Feb. 17, 2011, the company changed
its name from "Regen Biosciences, Inc." to "IntelliCell
BioSciences Inc".  To date, IntelliCell has developed proprietary
technologies that allow for the efficient and reproducible
separation of stromal vascular fraction (branded
"IntelliCell(TM)") containing adipose stem cells that can be
performed in tissue processing centers and in doctors' offices.

The Company has incurred losses since inception resulting in an
accumulated deficit of $43,079,590 and a working capital deficit
of $3,811,024 as of March 31, 2012, respectively.  However, if the
non-cash expense related to the Company's change in fair value of
derivative liability and stock based compensation is excluded then
the accumulated deficit amounted to $4,121,538.  Further losses
are anticipated in the continued development of its business,
raising substantial doubt about the Company's ability to continue
as a going concern.

The Company's balance sheet at Sept. 30, 2012, showed
$4.15 million in total assets, $7.31 million in total liabilities
and a $3.16 million total stockholders' deficit.


INTERNATIONAL WIRE: Moody's Keeps Ratings on Cooper Price Hike
--------------------------------------------------------------
Moody's Investors Service said International Wire Group, Inc.'s
ratings and stable outlook are not affected by the recent rally in
copper prices. While rising copper prices could be credit negative
as copper is a key raw material for the company's products, the
impact on profitability and liquidity is limited by the company's
ability to adjust its revenue model to keep up with higher costs
and by the liquidity and flexibility afforded by its asset-based
revolving credit facility.

On September 24, 2012, Moody's affirmed International Wire's B2
corporate family rating and B2 probability of default rating.
International Wire Group Holdings, Inc. is the parent of
International Wire Group, Inc. Moody's also assigned a B3 rating
to International Wire Group, Inc.'s proposed $250 million senior
secured notes due 2017. The ratings outlook remains stable.


J REALTY: Case Summary & 8 Unsecured Creditors
----------------------------------------------
Debtor: J Realty F Rockaway, Ltd.
        101-19 Rockaway Beach Boulevard
        Rockaway Beach, NY 11694

Bankruptcy Case No.: 13-44995

Chapter 11 Petition Date: August 14, 2013

Court: U.S. Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Elizabeth S. Stong

Debtors' Counsel: Arnold Mitchell Greene, Esq.
                  ROBINSON BROG LEINWAND GREENE ET AL
                  875 Third Avenue, 9th Floor
                  New York, NY 10022
                  Tel: (212) 603-6399
                  Fax: (212) 956-2164
                  E-mail: amg@robinsonbrog.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

Affiliates that simultaneously filed for Chapter 11:

        Debtor                       Case No.
        ------                       --------
J&F Rockaway Tavern Ltd.             13-44996
  Assets: $100,001 to $500,000
  Debts: $1,000,001 to $10,000,000
J&T Rockaway Tavern Corp.            13-44997
  Assets: $500,001 to $1,000,000
  Debts: $1,000,001 to $10,000,000

The petitions were signed by Gerald Perich, president.

A. J Realty F Rockaway, Ltd.'s list of its eight unsecured
creditors filed with the petition is available for free at:
http://bankrupt.com/misc/nyeb13-44995.pdf

B. J & F Rockaway Tavern Ltd.'s list of its 18 unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/nyeb13-44996.pdf

C. J&T Rockaway Tavern Corp.'s list of its 12 unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/nyeb13-44997.pdf


JEFFERSON COUNTY, AL: Bond Rating Agency Cites Risks in Exit Plan
-----------------------------------------------------------------
Barnett Wright, writing for The Birmingham News, reported that a
national bond rating agency has affirmed its low rating and
negative outlook for Jefferson County's sewer revenue warrants,
saying the county may face challenges in executing its bankruptcy
exit plan "given the rising interest rate environment."

The report pointed out that Moody's Investors Service affirmed the
county's Ca rating which is deep in junk territory and affects
$3.1 billion of outstanding sewer debt.

Moody's wrote in a news release that risks could affect the
county's debt refinancing including "rising interest rates,
insufficient investor demand for bonds at the projected credit
spreads, and a higher percentage of warrant holders who choose to
waive their claims against the bond insurers in exchange for a
higher recovery rate," the report related.

The county, according to the report, plans to issue approximately
$1.9 billion in refinanced sewer warrants as part of a plan to
exit bankruptcy by the end of the year.  County officials have
already said the plan will not work if warrants were issued today
because of higher than expected interest rates.

Moody's said its rating reflected an expectation that holders of
the county's defaulted sewer debt would recover between 35 percent
and 65 percent of the bond's value but there is a possibility that
"the ultimate recovery rate could fall below 35 percent if the
proposed restructuring fails to materialize as currently
envisioned," the report further related.

                     About Jefferson County

Jefferson County has its seat in Birmingham, Alabama.  It has a
population of 660,000.

Jefferson County filed a bankruptcy petition under Chapter 9
(Bankr. N.D. Ala. Case No. 11-05736) on Nov. 9, 2011, after an
agreement among elected officials and investors to refinance
$3.1 billion in sewer bonds fell apart.

John S. Young Jr. LLC was appointed as receiver by Alabama Circuit
Court Judge Albert Johnson in September 2010.

Jefferson County's bankruptcy represents the largest municipal
debt adjustment of all time.  The county said that long-term debt
is $4.23 billion, including about $3.1 billion in defaulted sewer
bonds where the debt holders can look only to the sewer system for
payment.

The county said it would use the bankruptcy court to put a value
on the sewer system, in the process fixing the amount bondholders
should be paid through Chapter 9.

Judge Thomas B. Bennett presides over the Chapter 9 case.  Lawyers
at Bradley ArantBoult Cummings LLP and Klee, Tuchin, Bogdanoff&
Stern LLP, led by Kenneth Klee, represent the Debtor as counsel.
Kurtzman Carson Consultants LLC serves as claims and noticing
agent.  Jefferson estimated more than $1 billion in assets.  The
petition was signed by David Carrington, president.

The bankruptcy judge in January 2012 ruled that the state court-
appointed receiver for the sewer system largely lost control as a
result of the bankruptcy. Before deciding whether Jefferson County
is eligible for Chapter 9, the bankruptcy judge will allow the
Alabama Supreme Court to decide whether sewer warrants are the
equivalent of "funding or refunding bonds" required under state
law before a municipality can be in bankruptcy.

U.S. District Judge Thomas B. Bennett ruled in March 2012 that
Jefferson County is eligible under state law to pursue a debt
restructuring under Chapter 9.  Holders of more than $3 billion in
defaulted sewer debt had challenged the county's right to be in
Chapter 9.

In June 2013, the county reached settlement with holders of 78
percent of the $3.1 billion in sewer debt at the core of the
county's financial problems.  The bondholders will be paid $1.84
billion through a refinancing, according to a term sheet.  The
settlement calls for JPMorgan Chase & Co., the owner of $1.22
billion in bonds, to make the largest concessions so other
bondholder will recover more.

On June 30, 2013, Jefferson County filed a Chapter 9 plan of debt
adjustment.  Pursuant to the Plan, sewer bondholders will receive
65 percent in cash. If they elect to waive claims against JPMorgan
and bond insurers, they receive 80 percent in cash.  Bondholders
supporting the plan already agreed to waive claims and receive the
larger recovery.  Existing sewer bonds will be canceled in
exchange for payments under the plan.  The county will fund plan
distributions by selling new sewer bonds calculated to generate
$1.96 billion to cover the $1.84 billion earmarked for existing
sewer bondholders.  JPMorgan has agreed to waive $842 million of
the sewer debt and a $657 million swap debt, resulting in an 88
percent overall write off by JPMorgan.  To finance the new sewer
bonds, there will be 7.4 percent in rate increases for sewer
customers in each of the first four years.  In later years, rate
increases will be 3.5 percent.


JERRY'S NUGGET: Plan Exclusivity Extended Through Sept. 30
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada approved a
stipulation relating to confirmation of Jerry's Nugget, Inc., et
al.'s Chapter 11 Plan.

The stipulation dated July 16, 2013, entered among the Debtors, US
Bank, National Association, 2010-1 CRE-Venture, LLC, and The
George Stamis Family Trust, George Stamis and Effie Stamis,
provides that, among other things:

   1. confirmation hearings will be held on Aug. 26, at 9:30 a.m.;
      Aug. 27, at 1:30 p.m.; Aug. 29, at 1:30 p.m., and Sept. 3,
      at 9:30 a.m.; and

   2. the exclusivity deadline will be extended to Sept. 3, to
      comply with the spirit of the exclusivity order and to allow
      the completion of the confirmation hearing.

On June 28, 2013, the Court entered its order on U.S. Bank's
motion to terminate the Debtors' exclusive period for filing and
confirming a Plan of Reorganization, indicating if the Plan is not
confirmed by Aug. 30 exclusivity will be terminated.

             About Jerry's Nugget and Spartan Gaming

Jerry's Nugget Inc., operates Jerry's Nugget, a casino consisting
of approximately 87,187 square feet of building area and 24,511
square fee of casino floor space with approximately 630 slot and
video poker machines and 9 table games.  Jerry's Nugget also
contains a sports book, a keno area and a small live pit.

Jerry's Nugget Inc. and affiliate Spartan Gaming LLC sought
Chapter 11 protection (Bankr. D. Nev. Lead Case No. 12-19387) in
Las Vegas, Vegas, on Aug. 13, 2012.  Jerry's Nugget, owned by the
Stamis family, has a 9.1-acre casino property in North Las Vegas.
The property consists of 87,187 square feet of building area and
24,511 square feet of casino floor space, with 630 slot and video
poker machines and 9 table games.  Jerry's Nugget also contains a
sports book, a keno area, and a small live pit.  There are two
restaurants the Uncle Angelo's Pizza Joint and Jerry's Famous
Coffee shop as well as Uncle Angelo's Bakery, a locals' favorite.
Net revenues totaled $22.5 million, including $15.3 million in
gaming revenue, in the year ended Dec. 31, 2011.  Spartan Gaming
owns 12 parcels of real property in Nevada.  Two of the parcels
provide parking access for Jerry's Nugget.

Judge Mike K. Nakagawa presides over the case. Gerald M. Gordon,
Esq., at Gordon Silver represent the Debtors.  Jerry's Nugget
estimated assets and debts of $10 million to $50 million.  Jerry's
Nugget said its current going concern value is at least
$8 million.  Spartan Gaming estimated $1 million to $10 million in
assets and debts.  The petitions were signed by Jeremy Stamis,
president.

In its schedules, Jerry's Nugget disclosed $12,378,944 in assets
and $10,771,442 in liabilities as of the Petition Date.

The Debtors' Plan generally provides for the repayment of claims
against the Debtors as: (i) Allowed Secured Claims will be paid in
full with interest; (ii) Allowed Priority Claims will be paid in
full with interests; (iii) Allowed Administrative Convenience
Claims will be paid in full; and (iv) Allowed General Unsecured
Claims will be paid their pro rata portion of $2,500,000, which
will be funded by Debtors' ongoing operations and the $400,000 or
greater contribution from the Stamis Trusts.  Existing Equity
Securities in JNI and Spartan Gaming will be canceled and 100
percent of the Reorganized Debtors' stock and membership issued to
the Stamis Trusts.

The Bankruptcy Court approved on June 28, 2013, the amended
disclosure statement describing the Debtors' Joint Plan.  The
hearing to confirm the Plan is scheduled for Aug. 26, 2013, at
9:30 a.m.

The law firm of Dorsey & Whitney represents US Bank; Morris Law
Group and H3 Law represent CRE; The Schwartz Law Firm represent
The George Stamis Family Trust, George Stamis and Effie Stamis.


JVMW PROPERTIES: BPPR to Exercise Foreclosure on Assets
-------------------------------------------------------
Secured creditor Banco Popular de Puerto has notified the U.S.
Bankruptcy Court for the District of Puerto Rico that JVMW
Properties Management Corp. was in default under the terms of the
parties' stipulation, permitting BRPR to exercise any and all
rights and remedies to seek the immediate and irrevocable relief
from the automatic stay.

Specifically, BPPR relates that the Debtor has not paid the
$20,000 adequate protection payment due July 15.

On May 3, 2013, BPPR filed a motion for relief from the automatic
stay and for entry of order prohibiting the use of BPPR's cash
collateral.  At the hearing held on June 19, the Debtor and BPPR
reached certain agreements for the resolution of the motions.

According to the stipulation, the Debtor agreed to (among other
things) pay to BPPR as additional adequate protection the amount
of $20,000 per month, which first payment was due on July 15.  The
Debtor further agreed that, upon any default by the Debtor on any
of the terms of the stipulation, then the automatic stay will be
lifted, without any further notice or hearing, upon notification
to the Court by BPPR of the default, in favor of BPPR; and that
BPPR will be allowed to continue and complete any and all
foreclosure and collection proceedings against the Debtor and its
collateral.

                      About JVMW Properties

JVMW Properties Management Corp filed a Chapter 11 petition
(Bankr. D.P.R. Case No. 13-02532) on April 1, 2013.  The petition
was signed by Julio Blanco D'Arcy, as president.  The Debtor
scheduled assets of $15,694,947 and liabilities of $25,782,161.

Wigberto Lugo Mender, Esq., at Lugo Mender Group, LLC represents
the Debtor in its restructuring effort.


K-V PHARMACEUTICAL: Exclusive Periods Extension Sought
------------------------------------------------------
BankruptcyData reported that K-V Pharmaceutical filed with the
U.S. Bankruptcy Court a motion to extend the exclusive period
during which the Company can file a Chapter 11 plan of
reorganization and solicit acceptances thereof through and
including October 16, 2013 and December 16, 2013, respectively.

The motion explains, "Termination of the Debtors' Exclusive
Periods could adversely impact the Debtors' business operations
and the progress of these cases. The Debtors are in the process of
soliciting acceptances of the Plan. The Confirmation Hearing is
currently scheduled for August 28, 2013. If the Debtors are not
granted an extension of the Exclusive Periods and the Confirmation
Hearing or consummation of the Plan is delayed, the Debtors could
lose the protections of section 1121 of the Bankruptcy Code before
the Debtors have a meaningful opportunity to resolve any issues
underlying such delay. Neither the Debtors nor their creditors can
afford to enter into the litigious environment that is attendant
to the proposal of competing plans of reorganization. Such an
environment would not only be counterproductive, but would also
significantly delay these cases to the detriment of the Debtors'
estates, creditors and other parties in interest, and would
undermine the Debtors' substantial (and successful) efforts to
formulate a consensual chapter 11 plan. Conversely, an extension
of the Exclusive Periods now, while the Debtors continue to
progress towards confirmation, will enable the Debtors to continue
with their reorganization efforts, and achieve confirmation and
consummation of the Plan without further delay or expense."

                     About K-V Pharmaceutical

K-V Pharmaceutical Company (NYSE: KVa/KVb) --
http://www.kvpharmaceutical.com/-- is a fully integrated
specialty pharmaceutical company that develops, manufactures,
markets, and acquires technology-distinguished branded and
generic/non-branded prescription pharmaceutical products.  The
Company markets its technology distinguished products through
ETHEX Corporation, a subsidiary that competes with branded
products, and Ther-Rx Corporation, the company's branded drug
subsidiary.

K-V Pharmaceutical Company and certain domestic subsidiaries on
Aug. 4, 2012, filed voluntary Chapter 11 petitions (Bankr.
S.D.N.Y. Lead Case No. 12-13346, under K-V Discovery Solutions
Inc.) to restructure their financial obligations.

K-V employed Willkie Farr & Gallagher LLP as bankruptcy counsel,
Williams & Connolly LLP as special litigation counsel, and SNR
Denton as special litigation counsel.  In addition, K-V tapped
Jefferies & Co., Inc., as financial advisor and investment banker.
Epiq Bankruptcy Solutions LLC is the claims and notice agent.

The U.S. Trustee appointed five members to serve in the Official
Committee of Unsecured Creditors.  Kristopher M. Hansen, Esq.,
Erez E. Gilad, Esq., and Matthew G. Garofalo, Esq., at Stroock &
Stroock & Lavan LLP, represent the Creditors Committee.

Weil, Gotshal & Manges LLP's Robert J. Lemons, Esq., and Lori R.
Fife, Esq., represent an Ad Hoc Senior Noteholders Group.


LEHMAN BROTHERS: JPMorgan in $23 Million Settlement with Clients
----------------------------------------------------------------
Jonathan Stempel, writing for Reuters, reported that JPMorgan
Chase & Co agreed to pay $23 million to settle a lawsuit accusing
it of mishandling money of pension funds and other clients by
investing it in notes from Lehman Brothers Holdings Inc, which
later went bankrupt.

According to the report, the largest U.S. bank denied wrongdoing
in agreeing to settle, and entered the settlement solely to
eliminate the burden and cost of litigation, according to papers
filed with the U.S. District Court in Manhattan.

Lawyers for the plaintiffs called the settlement terms fair,
reasonable and adequate, according to the filing, the report
related.  The settlement requires approval by U.S. District Judge
Katherine Forrest in Manhattan.

The case over the Lehman notes had been bought on behalf of
participants in JPMorgan's securities lending program, led by the
Operating Engineers Pension Trust of Pasadena, California, and had
sought class action status, the report further related.

Paul Geller, a partner at Robbins Geller Rudman & Dowd
representing the plaintiffs, did not immediately respond to a
request for comment, the report said.  JPMorgan spokesman Brian
Marchiony did not immediately respond to a similar request.

The case is Board of Trustees of the Operating Engineers Pension
Trust v. JPMorgan Chase Bank NA, U.S. District Court, Southern
District of New York, No. 09-09333.

                       About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012, a second payment of $10.2 billion on Oct. 1, 2012, and
a third distribution of $14.2 billion on April 4, 2013.  The
brokerage is yet to make a first distribution to non-customers,
although customers are being paid in full.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates.


LEHMAN BROTHERS: Moves to End Bankruptcy Fight with Citigroup
-------------------------------------------------------------
Patrick Fitzgerald, writing for The Wall Street Journal, reported
that the remains of Lehman Brothers Holdings Inc. want a
bankruptcy judge to end Citigroup Inc.'s "interest rate arbitrage"
with respect to their rival claims on $2 billion in cash Lehman
deposited at Citigroup about three months before it collapsed.

According to the report, in a court filing, lawyers for Lehman
asked U.S. Bankruptcy Judge James Peck to step in and
"provisionally allow" Lehman to use the $2 billion in cash in the
account to satisfy Citigroup's claims against the failed
investment bank.

Lehman says that allowing it to apply the cash in the account--for
the time being -- to Citi's claims will stop the accrual of
interest on more than $3 billion in claims against Lehman, the
report related.

The problem, as Lehman sees it, is that Citi is only paying .02%
interest on the disputed $2 billion in Lehman's account while the
bank is demanding a much higher rate on its claims against Lehman,
the report related. The interest-rate spread, Lehman says, gives
Citigroup's bank unit an unfair leverage in their dispute.

"If Citibank's legal position is correct, Citibank's interest-rate
arbitrage during the pendency of this litigation threatens to
dissipate whatever equity [Lehman] has in the $2 billion deposit,"
Lehman's lawyers said in a filing in U.S. Bankruptcy Court in New
York.

                       About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012, a second payment of $10.2 billion on Oct. 1, 2012, and
a third distribution of $14.2 billion on April 4, 2013.  The
brokerage is yet to make a first distribution to non-customers,
although customers are being paid in full.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000).


LIBBEY INC: S&P Raises Rating on Sr. Sec. Notes Due 2020 to 'BB-'
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Libbey Inc. and revised the outlook to
positive.

At the same time, S&P raised its issue-level rating on Libbey's
senior secured notes due 2020 to 'BB-' from 'B+' and revised the
recovery rating to '2' from '3'.  The '2' recovery rating
indicates S&P's expectation for substantial (70% to 90%) recovery
for lenders in the event of a payment default.

"The revision of the outlook to positive reflects our belief that
Libbey will continue to improve its credit metrics over the near
term while maintaining adequate liquidity under our criteria,"
said Standard & Poor's credit analyst Stephanie Harter.

S&P expects the company to improve its credit metrics through a
combination of additional debt reductions and sustained higher
EBITDA margin over the next 12 months.

The ratings reflects S&P's view of the company's business risk
profile as "weak" and financial risk profile as "significant".
Key credit factors considered in S&P's "weak" business risk
assessment include Libbey's narrow business focus, capital-
intensive operations, and exposure to volatile input costs, yet
significant presence in the U.S. food service glassware sector.
Libbey primarily manufactures glass tableware products.  Although
the company also distributes and sources ceramic dinnerware and
metalware, it is S&P's opinion that Libbey is narrowly focused, as
it estimates about 90% of the company's sales are from glassware
products.  It is S&P's opinion that the glassware industry is
highly fragmented and competitive, capital-intensive, and
vulnerable to economic cycles and volatility in the price of
natural gas, which is a major input in the manufacturing process.
Despite declines in demand during the recent recession in the
U.S., S&P believes long-term growth prospects remain favorable for
the U.S. food service industry.  Libbey maintains the lead
position in glassware sales within the U.S. food service sector,
and the company's significant installed base is a competitive
advantage.  S&P estimates, historically, close to half of the
company's sales and EBITDA are from the U.S. food service channel.
We believe this provides some protection against the threat of
imports and some stability to Libbey's sales and cash flow because
replacement purchases drive a significant portion of glassware
sales to the food service channel, and S&P believes switching
costs are high.

The positive outlook reflects S&P's expectation that the company
will maintain adequate liquidity and credit metrics will continue
to strengthen over the next 12 months.  S&P could consider an
upgrade if Libbey sustains its operating performance and applies
free operating cash flow toward debt reduction, resulting in the
ratio of FFO to total debt of more than 20% while leverage remains
below 4x.  S&P estimates Libbey could achieve these metrics in a
scenario of low-single-digit revenue growth and adjusted EBITDA
margin slightly greater than current levels.

S&P could consider revising the outlook to stable if the company's
operating performance deteriorates significantly, or its financial
policies become more aggressive such that debt were to increase to
well over 5x.  S&P estimates this could occur if EBITDA were to
decline by more than 30%, assuming constant debt levels.


LIGHTSQUARED INC: Lawyers for Falcone, Ergen Spar Over Suit
-----------------------------------------------------------
Joseph Checkler writing for Daily Bankruptcy Review reports that
lawyers for Dish Network Corp. Chairman Charlie Ergen and Phil
Falcone squared off in front of LightSquared's bankruptcy judge,
for the first time since Mr. Falcone sued Mr. Ergen over allegedly
improper purchases of LightSquared's debt.

                      About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.


LONE PINE: LPR Canada Fails to Pay Senior Notes Interest
--------------------------------------------------------
Lone Pine Resources Inc. on Aug. 15 disclosed that Lone Pine
Resources Canada Ltd. elected not to make the US$10,115,625 semi-
annual interest payment due on August 15, 2013 in respect of its
outstanding 10.375% senior notes due 2017.

The indenture, dated February 14, 2012, among LPR Canada, the
Company and certain other guarantors and U.S. Bank National
Association, as trustee, governing the Senior Notes provides that
the failure to make such interest payment, if not cured within 30
days, will result in an event of default under the Indenture, and
thereafter the Trustee or the holders of at least 25% in aggregate
principal amount of the Senior Notes will have the right to
declare the Senior Notes immediately due and payable at their
principal amount together with accrued interest; however, holders
of a majority in principal amount of the outstanding Senior Notes
may direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee or of exercising any trust
or power conferred on the Trustee.  Accordingly, if LPR Canada has
not made the interest payment by September 16, 2013, an event of
default under the Indenture will occur.  As of August 15, 2013,
there was US$195 million aggregate principal amount of Senior
Notes outstanding.

LPR Canada's failure to make an interest payment on the Senior
Notes could also lead to a cross default under the credit
agreement dated as of March 18, 2011, by and among Lone Pine, LPR
Canada, JPMorgan Chase Bank, N.A., Toronto Branch as
Administrative Agent and the other agents and Lenders (as defined
in the Credit Agreement) party thereto (as amended, the "Credit
Agreement"), which cross default could entitle the Lenders, in the
absence of a waiver or forbearance agreement, to accelerate the
Credit Agreement indebtedness.  As of August 15, 2013, Lone Pine
had approximately Cdn$178 million outstanding under the Credit
Agreement.

As previously disclosed, Lone Pine is focused on addressing its
liquidity and leverage issues, and during the past several weeks
Lone Pine has been engaged in discussions with the holders of a
majority of the aggregate principal amount of the Senior Notes
regarding a possible restructuring or refinancing of the Senior
Notes and the indebtedness outstanding under the Credit Agreement.
Those discussions with the holders are continuing, however, there
is no assurance that such discussions will be successful or that
an agreement on the terms of a restructuring or refinancing will
be obtained before the end of the 30-day Indenture cure period.
Lone Pine also remains in active dialogue with its syndicate of
Lenders regarding its restructuring and refinancing efforts.

If Lone Pine fails to restructure or refinance its current
outstanding indebtedness within the time parameters available to
it under the Credit Agreement and the Indenture or otherwise, or
if any of its indebtedness is accelerated, Lone Pine will likely
not have adequate liquidity to fund its operations, meet its
obligations (including its debt payment obligations) and continue
as a going concern, and will likely be forced to seek relief under
the Canadian Companies' Creditors Arrangement Act ("CCAA") and
Chapter 11 or 15 of the U.S. Bankruptcy Code (or an involuntary
petition for bankruptcy relief or similar creditor action may be
filed against it).

Lone Pine's common stock is currently listed on the New York Stock
Exchange and the Toronto Stock Exchange.  If Lone Pine files or
announces an intent to file for relief under the CCAA and Chapter
11 or 15 of the U.S. Bankruptcy Code and because Lone Pine is
currently below a continued listing standard enumerated in section
802.01B of the NYSE Listed Company Manual, Lone Pine will be
subject to immediate suspension and delisting from the NYSE.  In
addition, if Lone Pine's average global market capitalization is
less than US$15 million over a consecutive 30 trading-day period,
then, pursuant to section 802.01B of the NYSE Listed Company
Manual, the NYSE will promptly initiate suspension and delisting
procedures against Lone Pine, and Lone Pine will not be eligible
to use sections 802.02 and 802.03 of the NYSE Listed Company
Manual to appeal such suspension and delisting procedures.

Continued listing of Lone Pine's common stock on the TSX is
subject to compliance with the applicable requirements of the TSX
Company Manual.  Under section 708 of the TSX Company Manual, if
Lone Pine files for relief under the CCAA and Chapter 11 or 15 of
the U.S. Bankruptcy Code or any other creditor arrangement,
bankruptcy or similar proceedings are instituted, the TSX may in
its discretion immediately halt trading on the TSX of, and
thereafter delist, Lone Pine's common stock.  In addition and in
accordance with section 710 of the TSX Company Manual, the TSX may
delist Lone Pine's common stock if, in the opinion of the TSX,
Lone Pine's financial condition is such that its ability to
continue as a going concern is questionable.  The TSX retains
broad discretion to halt trading in and delist Lone Pine's common
stock in these and other circumstances.

Headquartered in Calgary, Alberta, Canada, Lone Pine Resources
Inc. (NYSE, TSX: LPR) is engaged in the exploration and
development of natural gas and light oil in Canada.  Lone Pine's
principal reserves, producing properties and exploration prospects
are located in Canada in the provinces of Alberta, British
Columbia and Quebec and the Northwest Territories.

                          *     *     *

As reported by the Troubled Company Reporter on May 30, 2013,
Moody's Investors Service downgraded Lone Pine Resources Inc.'s
Corporate Family Rating and Probability of Default Rating to
Caa3/Caa3-PD from Caa1/Caa1-PD.  The $200 million senior unsecured
notes rating was downgraded to Ca from Caa1.  The Speculative
Grade Liquidity of SGL-4 was affirmed.  Moody's said the rating
outlook remains negative.


LONE PINE: S&P Lowers CCR to 'D' After Missed Interest Payment
--------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit rating on Calgary, Alta.-based independent
exploration and production company Lone Pine Resources Canada Ltd.
to 'D' from 'CCC-' after the company announced its intent not to
pay its US$10 million semiannual interest payment due Aug. 15,
2013, on its 10.375% senior unsecured notes due 2017.  At the same
time, Standard & Poor's also lowered its issue-level ratings on
the company's 10.375% senior unsecured notes to 'D' from 'C'.  The
'6' recovery rating on the notes is unchanged.  S&P removed the
ratings from CreditWatch with negative implications, where they
were placed July 12.

"Although the notes allow for a 30-day grace period following the
interest payment date, we believe that Lone Pine will be unable to
make any interest payments during the grace period," said Standard
& Poor's credit analyst Aniki Saha-Yannopoulos.  "This constitutes
an event of default as per our criteria," Ms. Saha-Yannopoulos
added.

During the 30-day grace period, which began Aug. 15, Lone Pine
will be in discussions with the holders of the aggregate principal
amount of the notes regarding a possible restructuring or
refinancing of the notes and indebtedness under the revolving
facility.  S&P acknowledges that there might be some possibility
that the company will be able to honor its obligations of
principal and interest payments at some point beyond the grace
period or after the refinancing or restructuring effort is
completed.  However, if Lone Pine fails to restructure or
refinance its debt or its debt is accelerated, it will likely file
under the Canadian Companies' Creditors Arrangement Act and
Chapter 11 or 15 of the U.S. Bankruptcy Code.


MARTIN MIDSTREAM: Moody's Says Alinda Purchase is Credit Positive
-----------------------------------------------------------------
Moody's Investors Service said that Martin Midstream LP's proposed
indirect partial ownership by Alinda Capital Partners, an
infrastructure investment firm, is a credit positive development
for MMLP as it provides an additional source of growth through
future drop-downs and improves the consolidated family leverage
due to potential reduction in debt at Martin Resource Management
Corporation, owner of the general partner of MMLP.

Martin Midstream Partners L.P. is a public, midstream Master
Limited Partnership headquartered in Kilgore, Texas.

On February 5, 2013, Moody's assigned a B3 rating to Martin
Midstream's proposed issuance of $250 million senior unsecured
notes due 2021. Moody's also affirmed the company's B1 Corporate
Family Rating, B1-PD Probability of Default Rating and the B3
rating on its outstanding $175 million senior unsecured notes due
2018. The SGL-3 Speculative Grade Liquidity (SGL) rating was
unchanged. The outlook was stable.


MARK DAHRLING: Couple Seeks to Dodge Ponzi Clawback Suit
--------------------------------------------------------
Richard Metcalf, writing for The Albuquerque Journal, reported
that an Albuquerque couple has filed for bankruptcy court
protection in an effort to dodge a clawback lawsuit stemming from
their lost investment with convicted Ponzi schemer Doug Vaughan.

Real-estate veterans Mark and Maura Dahrling, who already face a
$338,056 court-awarded judgment from a clawback against their now-
closed custom homebuilding business, filed a petition for a
Chapter 7 liquidation in July, according to court records.

Their bankruptcy petition lists their only substantial debt as $1
million from a "clawback suit," the report related.  A Chapter 7
bankruptcy is a recognized way to get rid of a civil judgment
under many circumstances.

"Doug Vaughan took everything from us and now (court-appointed
trustee) Judith Wagner is trying to take even more," Mark Dahrling
said in a statement emailed to the Journal.

"We are good people and have done nothing wrong," he said, the
report further cited. "We have been forced into bankruptcy in
order to stop this sinister clawback litigation against us and
hopefully put an end to this unbelievable nightmare."


MAXCOM TELECOMUNICACIONES: Confirmation Hearing Set for Sept. 10
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Maxcom Telecomunicaciones, S.A.B. de C.V. to perform all
obligations under the recapitalization agreement, by and among the
Company, private equity firm Ventura Capital Privado, S.A., de
C.V., and certain related parties.  This approval allows the
Company to continue to implement its expedited restructuring
strategy and seek Court approval of its prepackaged plan of
reorganization at a confirmation hearing currently scheduled for
Sept. 10, 2013.  The Company anticipates emerging from Chapter 11
by early fall 2013.

                           About Maxcom

Maxcom Telecomunicaciones, S.A.B. de C.V., headquartered in Mexico
City, Mexico, is a facilities-based telecommunications provider
using a "smart-build" approach to deliver last-mile connectivity
to micro, small and medium-sized businesses and residential
customers in the Mexican territory.  Maxcom launched commercial
operations in May 1999 and is currently offering local, long
distance, data, value-added, paid TV and IP-based services on a
full basis in greater metropolitan Mexico City, Puebla, Tehuacan,
San Luis, and Queretaro, and on a selected basis in several cities
in Mexico.

In June 2013, Maxcom didn't make an $11 million interest payment
on the notes.

Maxcom sought bankruptcy protection (Bankr. D. Del. Case No.
13-11839) in Wilmington, Delaware, on July 23, 2013.

Maxcom listed $11.1 billion in assets and $402.3 million in debt.
The company had assets valued at 4.98 billion pesos ($394 million)
in the quarter ended March 31, according to an April 26 regulatory
filing.  The company reached a restructuring agreement with
Ventura Capital, a group holding about $86 million, or 48.7
percent, of the senior notes and about 44 percent of its equity
holders, court papers show.

The Company has engaged Lazard Freres & Co. LLC and its alliance
partner Alfaro, Davila y Rios, S.C., as its financial advisor and
Kirkland & Ellis LLP and Santamarina y Steta, S.C. as its U.S. and
Mexican legal advisors in connection with its restructuring
proceedings and potential Chapter 11 case.  The Ad Hoc Group has
retained Cleary Gottlieb Steen & Hamilton LLP and Cervantes Sainz,
S.C., as its U.S. and Mexican legal advisors.  Ventura has
retained VACE Partners as its financial advisor, and Paul Hastings
LLP and Jones Day as its U.S. and Mexican legal advisors,
respectively.


MERGE HEALTHCARE: S&P Revises Outlook to Neg. & Affirms 'B' CCR
---------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on Chicago-
based Merge Healthcare Inc. to negative from stable.  In addition,
S&P affirmed its 'B' corporate credit rating on the company.

"The outlook revision reflects our view that the company will be
challenged to restore revenue and margin growth in the near term
given currently weak end-market demand, as well as by heightened
near-term operational uncertainty due to the management turnover,"
said Standard & Poor's credit analyst Andrew Chang.

"The rating on Merge reflects Standard & Poor's expectation that
the company will maintain a 'weak' business risk profile that
incorporates weaker-than-expected operating performance, a
slowdown in end-market demand, and management turnover.  We expect
revenues will decline by 3% to 4% in the near term, adjusted
EBITDA margins will be about 18%, and adjusted leverage will rise
to about 6x by fiscal year-end 2013.  However, we continue to
expect modestly positive free operating cash flow in fiscal 2013
due mostly to interest savings from the refinancing completed
earlier this year," added Mr. Chang.

S&P considers Merge's financial risk profile "highly leveraged,"
and S&P revised its assessment of Merge's liquidity to "less than
adequate" from "adequate," reflecting S&P's expectation of
constrained covenant headroom.

Merge is a health care information technology imaging solutions
provider that develops software solutions to automate health care
data and diagnostic workflow.  Its key products include radiology-
and cardiology-related imaging solutions, computer-aided detection
for original equipment manufacturers, as well as solutions to
create interoperability between images and electronic health care
records.


METRO-GOLDWYN-MAYER: S&P Raises CCR to 'B+'; Outlook Stable
-----------------------------------------------------------
Standard & Poor's Ratings Services raised its ratings on Beverly
Hills, Calif.-based Metro-Goldwyn-Mayer Inc., including the
corporate credit rating to 'B+' from 'B'.  The outlook is stable.

The upgrade reflects the significant improvement in Metro-Goldwyn-
Mayer's credit metrics since emergence from bankruptcy in 2010.
In addition, discretionary cash flow to debt has increased to
about 300% from just 6% during the same period last year, which
underscores the volatility in the film industry.  MGM's recent
discretionary cash flow generation and EBITDA growth exceeded
S&P's expectations as a result of the success of "Skyfall" and
"The Hobbit" in the fourth quarter of 2012.  Over the next 12
months, S&P also expects the company will maintain a ratio of
discretionary cash flow to debt of at least 20%.  Over the
intermediate term, S&P sees the potential that revolving credit
facility usage could increase from current levels due to
uncertainty around financial policy..

S&P regards MGM's business risk profile as "weak" because it sees
a risk associated with new films other than "James Bond" and "The
Hobbit" franchises, which along with the library currently account
for the bulk of MGM's revenue and EBITDA.  MGM faces the risk of
losses and write-downs on new releases in 2013 and beyond as it
pursues a steady state of production and cash flow.  S&P regards
the company's financial risk profile as "significant" because of
its historically heavy debt burden, despite the steep debt
reduction after its emergence from bankruptcy in late 2010.  S&P
regards current leverage as modest for a pure-play film studio,
but because of a lack of clarity regarding MGM'S long-term
financial policy, S&P sees a risk that leverage could increase
from current levels.  S&P assess MGM's management and governance
as "fair" under its criteria.

MGM is a pure-play filmed entertainment company.  The company has
an extensive film and TV library, with franchises that include the
"James Bond" film series, "Rocky" films, and the "Stargate" TV
series.  The company also has a 50% interest in the two upcoming
"Hobbit" movies. MGM's library and its "James Bond" and "Hobbit"
films represent its most stable source of cash flow.  The company
has licensed its titles extensively to domestic and international
TV channels and to digital video service providers.  The company
will need to develop new titles given unpredictability of success
in the industry and MGM's dependence on "James Bond" films as the
principal, highly profitable titles.  Management has started
producing a regular slate of four to six films a year, expansion
of which S&P expects will be a use of future cash.  S&P views the
"James Bond" and "Hobbit" films as promising for MGM's future box-
office performance (according to boxofficemojo, in 2012 the films
were ranked 4th and 5th, respectively, for total gross domestic
box office), but the company will need to develop new franchises
by the end of the "Hobbit" series in 2014.


METROLINA STEEL: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Metrolina Steel, Inc.
        2601 Westinghouse Boulevard
        Charlotte, NC 28273

Bankruptcy Case No.: 13-31771

Chapter 11 Petition Date: August 14, 2013

Court: U.S. Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: Laura T. Beyer

Debtor's Counsel: Richard S. Wright, Esq.
                  MOON WRIGHT & HOUSTON, PLLC
                  227 W. Trade Street, Suite 1800
                  Charlotte, NC 28202
                  Tel: (704) 944-6564
                  Fax: (704) 944-0380
                  E-mail: rwright@mwhattorneys.com

Estimated Assets: $0 to $50,000

Estimated Debts: $1,000,001 to $10,000,000

A copy of the Company's list of its 20 largest unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/ncwb13-31771.pdf

The petition was signed by John T. Hurt, treasurer.


MFM DELAWARE: Has Interim Authority to Obtain Loans from T. Kraatz
------------------------------------------------------------------
MFM Delaware, Inc., and MFM Industries, Inc., sought and obtained
interim authority from the U.S. Bankruptcy Court for the District
of Delaware to incur postpetition secured indebtedness and enter
into a credit agreement with Thomas Kraatz.

All of the Debtors' obligations under the Kraatz credit agreement,
subject to a carve-out, will be entitled to super-priority claim
status and be secured by perfected liens on substantially all of
Industries' assets; provided, however, that Mr. Kraatz will not
have any liens in accounts generated by the Debtors until Bibby
Financial Services (Midwest), Inc., is indefeasibly paid in full
after BFS announces its intent not to purchase additional
accounts.  The Kraatz DIP Liens will prime and be superior to any
liens on the Cash Collateral held by Palmer Resources LLC.

A hearing to consider final approval of the request is scheduled
for Sept. 10, 2013, at 11:00 a.m.  Objections are due Sept. 5.

                       About MFM Industries

Cat litter maker MFM Delaware, Inc., and affiliate MFM Industries,
Inc., sought Chapter 11 protection (Bankr. D. Del. Case No.
13-11359 and 13-11360) on May 28, 2013.

Founded in 1964 as a clay-based absorbents supplier, MFM is
supplier of cat litter in the U.S.  The Company produces 100,000
tons of cat litter a year, representing 1 percent of the total
market.  Its private label market share is 20 percent.  The
company's cat litter products are comprised of a blend of fuller's
earth clay, sodium bentonite and scenting properties.   Clay is
supplied from a leased clay mine in Ocala, Florida, and is
transported five miles away to the company's manufacturing plant
in Reddick, Florida.  Direct Capital Partners, LLC, acquired a
majority stake in the Company in 1997.

Frederick B. Rosner, Esq. at Rossner Law Group LLC serves as the
Debtors' bankruptcy counsel, and Pharus Securities, LLC, serves as
investment banker.

The Official Committee of Unsecured Creditors is represented by
Michael J. Barrie, Esq. at Benesch, Friedlander, Coiplan & Aronoff
LLP as its counsel; and Gavin/Solmonese LLC as its financial
advisor.


MINT LEASING: Delays Second Quarter Form 10-Q for Review
--------------------------------------------------------
The Mint Leasing, Inc., notified the U.S. Securities and Exchange
COmmission that it will not be able to timely file its quarterly
report on Form 10-Q for the period ended June 30, 2013.  The
Company said it has experienced delays in completing its financial
statements for the quarter ended June 30, 2013, as its auditor has
not had sufficient time to review the financial statements for the
quarter ended June 30, 2013.

                         About Mint Leasing

Houston, Texas-based The Mint Leasing, Inc., is in the business of
leasing automobiles and fleet vehicles throughout the United
States.

In its report on the consolidated financial statements for the
year ended Dec. 31, 2012, M&K CPAS, PLLC, in Houston, Texas,
expressed substantial doubt about Mint Leasing's ability to
continue as a going concern.  The independent auditors noted that
Mint Leasing has a significant amount of debt due within the next
12 months, and may not be successful in obtaining renewals or
renegotiating its loans.

The Company reported a net loss of $238,969 on $10.0 million of
revenues in 2012, compared with a net loss of $1.6 million on
$10.8 million of revenues in 2011.

The Company's balance sheet at March 31, 2013, showed $23.52
million in total assets, $23.30 million in total liabilities and
$221,300 in total stockholders' equity.

                         Bankruptcy Warning

"Over the past approximately one-hundred and twenty days, we have
been in discussions with various parties and have entered into
various term sheets regarding potential funding transactions in
order to enable us to raise funds sufficient to pay the discounted
Settlement Amount that Comerica has previously agreed to accept in
satisfaction of the Renewal.  To date, we have not entered into
any definitive agreements associated with such potential funding
transactions and do not have sufficient funding to pay the
Settlement Amount or to satisfy our other obligations under the
Renewal.  In the event that we are unable to pay the Settlement
Amount (or the full amount of the Renewal, if required by
Comerica) or are unable to come to terms on a further forbearance
or extension of the Renewal, Comerica could take further actions
against us to enforce its security interest over our assets, seek
immediate repayment of the full amount due under the facility,
seek an immediate foreclosure of such assets and/or may take other
actions which have a material adverse effect on our operations,
assets and financial condition or force us to seek bankruptcy
protection," according to the Company's quarterly report for the
period ended March 31, 2013.


MONTREAL MAINE: Canada Suspends Operating License
-------------------------------------------------
Paul Vieira, writing for Daily Bankruptcy Review, reported that
Canada's transport regulator suspended the operating license of
the railway involved in a derailment in a small town in Quebec
that killed 47 people.

According to the report, the Canadian Transportation Agency said
it revoked the license belonging to Montreal, Maine & Atlantic
Railway Ltd. because of concerns over the company's insurance
coverage. The suspension takes effect on Aug. 20.

MM&A filed last week for bankruptcy protection in both the U.S.
and Canada, a month after a company train carrying crude oil
derailed in Lac Megantic, Quebec, sparking massive explosions and
wiping out sections of the town, the report related.

The company in court filings said that its obligations had
exceeded the value of its assets, and that the company had lost
much of its freight business since the derailment, the report
said.

The agency said it reviewed MM&A's insurance coverage and was "not
satisfied" the company had adequately restored coverage to the
same level prior to the Lac Megantic derailment on July 6, the
report further related.

             About Montreal, Maine & Atlantic Railway

Montreal, Maine & Atlantic Railway Ltd., the railway company that
operated the train that derailed and exploded in July 2013,
killing 47 people and destroying part of Lac-Megantic, Quebec,
sought bankruptcy protection in U.S. Bankruptcy Court in Bangor,
Maine (Case No. 13-10670) on Aug. 7, 2013, with the aim of selling
its business.  Its Canadian counterpart, Montreal, Maine &
Atlantic Canada Co., meanwhile, filed for protection from
creditors in Superior Court of Quebec in Montreal.

U.S. Bankruptcy Judge Louis H. Kornreich has been assigned to the
U.S. case.  The Maine law firm of Verrill Dana serves as counsel
to MM&A.

Justice Martin Castonguay oversees the case in Canada.


MPG OFFICE: Reclassifies Results of Bank Tower & Westlawn Garage
----------------------------------------------------------------
MPG Office Trust, Inc., has restated its consolidated financial
statements and related notes as of and for the three-year period
ended Dec. 31, 2012, as reported in Part II, Item 8 of its annual
report on Form 10-K filed with the U.S. Securities and Exchange
Commission on March 18, 2013, to reflect the reclassification of
the results of operations of US Bank Tower and the Westlawn off-
site parking garage to discontinued operations.

The reclassification of the results of operations of US Bank
Tower, the Westlawn off-site parking garage and Plaza Las Fuentes
had no effect on MPG Office Trust's historical reported
consolidated balance sheets, net income (loss), earnings (loss)
per share, or statements of comprehensive income/(loss), deficit
and cash flows as of and for the three-year period ended Dec. 31,
2012.

The restated consolidated financial statements and related notes
are available for free at http://is.gd/WDSq6M

The Company also filed a current report on Form 8-K to restate the
selected financial data reported in Part II, Item 6 and the
management's discussion and analysis of financial condition and
results of operations reported in Part II, Item 7 of the 2012 Form
10-K to reflect the reclassification of the results of operations
of US Bank Tower and the Westlawn off-site parking garage in the
Q1 2013 Form 10-Q and Plaza Las Fuentes in the Q2 2013 Form 10-Q
to discontinued operations.  The restated selected financial data
and MD&A are available for free at http://is.gd/gOwRYQ

As reported in the TCR on June 21, 2013, MPG Office Trust
completed the sale of US Bank Tower and the Westlawn Garage, each
located in Downtown Los Angeles, CA, to Beringia Central LLC, an
indirect wholly owned subsidiary of Overseas Union Enterprise
Limited for $367.5 million.

                       About MPG Office Trust

MPG Office Trust, Inc., fka Maguire Properties Inc. --
http://www.mpgoffice.com/-- owns and operates Class A office
properties in the Los Angeles central business district and is
primarily focused on owning and operating high-quality office
properties in the Southern California market.  MPG Office Trust is
a full-service real estate company with substantial in-house
expertise and resources in property management, marketing,
leasing, acquisitions, development and financing.

For the year ended Dec. 31, 2012, the Company reported net income
of $396.11 million, as compared with net income of $98.22 million
on $234.96 million of total revenue during the prior year.  The
Company's balance sheet at March 31, 2013, showed $1.45 billion in
total assets, $1.98 billion in total liabilities, and a $530.56
million total deficit.

In its Form 10-K filing with the Securities and Exchange
Commission for the fiscal year ended Dec. 31, 2012, the Company
said it is working to address challenges to its liquidity
position, particularly debt maturities, leasing costs and capital
expenditures.  The Company said, "We do not currently have
committed sources of cash adequate to fund all of our potential
needs, including our 2013 debt maturities. If we are unable to
raise additional capital or sell assets, we may face challenges in
repaying, extending or refinancing our existing debt on favorable
terms or at all, and we may be forced to give back assets to the
relevant mortgage lenders. While we believe that access to future
sources of significant cash will be challenging, we believe that
we will have access to some of the liquidity sources identified
above and that those sources will be sufficient to meet our near-
term liquidity needs."

On March 11, 2013, the Company entered into an agreement to sell
US Bank Tower and the Westlawn off-site parking garage.  The
transaction was to close June 28, 2013, subject to customary
closing conditions.  The net proceeds from the transaction are
expected to be roughly $103 million, a portion of which may
potentially be used to make loan re-balancing payments on the
Company's upcoming 2013 debt maturities at KPMG Tower and 777
Tower.

Roughly $898 million of the company's debt matures in 2013.

"Our ability to access the capital markets to raise capital is
highly uncertain.  Our substantial indebtedness may prevent us
from being able to raise debt financing on acceptable terms or at
all.  We believe we are unlikely to be able to raise equity
capital in the capital markets," the Company said in a regulatory
filing.  "Future sources of significant cash are essential to our
liquidity and financial position, and if we are unable to generate
adequate cash from these sources we will have liquidity-related
problems and will be exposed to material risks. In addition, our
inability to secure adequate sources of liquidity could lead to
our eventual insolvency."


MUNICIPAL MORTGAGE: Incurs $5.5-Mil. Net Loss in Second Quarter
---------------------------------------------------------------
Municipal Mortgage & Equity, LLC, filed its quarterly report on
Form 10-Q for the quarter ended June 30, 2013, disclosing a net
loss of $5.55 million on $14.85 million of total interest income,
as compared with a net loss of $1.41 million on $16.87 million of
total interest income for the same period last year.

For the six months ended June 30, 2013, the Company reported net
income of $35.95 million on $30.79 million of total interest
income as compared with a net loss of $10.29 million on $33.96
million of total interest income for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $1.74 billion
in total assets, $1.06 billion in total liabilities and $679.70
million in total equity.

A copy of the Form 10-Q is available for free at:

                       http://is.gd/mFOHze

                      New Share Buyback Plan

On Aug. 8, 2013, the Company's Board of Directors authorized the
management to enter into an amended and restated stock repurchase
program effective subsequent to the Company's filing of the
quarterly report on Form 10-Q, and in any event not earlier than
Aug. 15, 2013.  The authorization permits the plan to be amended
and restated to provide for the Company to purchase up to four
million shares total, and up to 800,000 shares in any one calendar
month at a price up to 100 percent of its common shareholders'
equity per share as shown on its most recently filed periodic
report.  The Company's maximum price on the effective date of the
amended and restated plan will be $1.53 based on the common
shareholders' equity as reported in this quarterly report for the
period ended June 30, 2013.  No shares will be purchased pursuant
to the amended and restated plan before Aug. 26, 2013.

                    Conference Call Information

The Company plans to host a conference call on Wednesday, Aug. 21,
2013, at 4:30 p.m. ET to provide a business update and review
financial results for the quarter.  The conference call will be
webcast.  All interested parties are welcome to join the live
webcast, which can be accessed through the Company's web site at
www.munimae.com, under Investor Relations.  Participants may also
join the conference call by dialing toll free 1-800-860-2442 or 1-
412-858-4600 for international participants and 1-866-605-3852 for
Canadian participants.

An archived replay of the event will be available one hour after
the event through 9:00 a.m. on August 29, 2013, toll free at 1-
877-344-7529, or 1-412-317-0088 for international participants
(Passcode: 10032898).

                      About Municipal Mortgage

Baltimore, Md.-based Municipal Mortgage & Equity, LLC (Pink
Sheets: MMAB) -- http://www.munimae.com/-- was organized in 1996
as a Delaware limited liability company and is classified as a
partnership for federal income tax purposes.

When the Company became a publicly traded company in 1996, it was
primarily engaged in originating, investing in and servicing tax-
exempt mortgage revenue bonds issued by state and local government
authorities to finance affordable multifamily housing
developments.  Since then, the Company made several acquisitions
that significantly expanded its business.  However, in 2008, due
to the financial crisis, the Company began contracting its
business.

The Company has sold, liquidated or closed down all of its
different businesses except for its bond investing activities and
certain assets and residual interests related to the businesses
and assets that the Company sold due to its liquidity issues.

The Company has a majority position in International Housing
Solutions S.a.r.l., a partnership that was formed to promote and
invest in affordable housing in overseas markets.  In addition, at
Dec. 31, 2010, the Company has an unfunded equity commitment of
$5.1 million, or 2.67% of total committed capital with respect to
its role as the general partner to the South Africa Workforce
Housing Fund SA I ("SA Fund").  The SA Fund was formed to invest
directly or indirectly in housing development projects and housing
sector companies in South Africa.  A portion of the funding of SA
Fund is participating debt provided by the United States Overseas
Private Investment Corporation, a federal government entity, and
the remainder is equity primarily invested by institutional and
large private investors.  The Company expects to continue this
business.

In the auditors' report accompanying the consolidated financial
statements for the year ended Dec. 31, 2011, KPMG LLP, in
Baltimore, Maryland, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company has been negatively impacted by
the deterioration of the capital markets and has liquidity issues
which have resulted in the Company having to sell assets and work
with its creditors to restructure or extend its debt arrangements.


NATURAL PORK: Sept. 20 Hearing on Sale of Brayton Residence
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Iowa will
convene a hearing on Sept. 20, 2013, at 9 a.m., to consider
Natural Pork Production II LLP's motion to sell the Brayton
facility to Newell Pig II LLP for $5,170,000, pursuant to a Lease,
Notice of Exercise of Option and asset purchase agreement.

NPPII holds title to a single family residence on approximately
1.6 acres in Audubon County, Iowa, and commonly referred to as
3257 Goldfinch Place (Brayton Residence).

NPPII is the successor in interest to Natural Pork Production II
L.C. and is the parent, predecessor in interest, sole member and
sole equity interest holder of that certain wholly-owed
subsidiary, Brayton, LLC, which is a debtor in an affiliated case
now pending before the Court.

In connection with Brayton LLC's proposed sale of the Brayton
Facility to Newell, Newell wishes to purchase the Brayton
Residence from NPPII for $30,000.

                        About Natural Pork

Hog raiser Natural Pork Production II, LLP, filed for Chapter 11
bankruptcy (Bankr. S.D. Iowa Case No. 12-02872) on Sept. 11,
2012, in Des Moines.  The Company formerly did business as Natural
Pork Production, LLC.  It does business as Crawfordsville, LLC,
Brayton, LLC, South Harlan, LLC, and North Harlan, LLC.  The
Debtor disclosed $31.9 million in asset and $27.9 million in
liabilities, including $7.49 million of secured debt in its
schedules.

Bankruptcy Judge Anita L. Shodeen oversees the case.  Donald F.
Neiman, Esq., and Jeffrey D. Goetz, Esq., at Bradshaw, Fowler,
Proctor & Fairgrave, P.C., in Des Moines, Iowa, represent the
Debtor as general reorganization counsel.  John C. Pietila, Esq.,
at Davis, Brown, Koehn, Shors & Roberts, P.C., in West Des Moines,
Iowa, represents the Debtor as special corporate counsel,
effective as of the Petition Date.

Aaron L. Hammer, Esq., Mark S. Melickian, Esq., and Michael A.
Brandess, Esq., at Sugar, Felsenthal Grais & Hammer LLP, in
Chicago, represent the Official Committee of Unsecured Creditors.
Conway MacKenzie, Inc., serves as its financial advisor.

Gary W. Koch, Esq., and Michael S. Dove, Esq., represent AgStar
Financial Services, ACA, and AgStar Financial Services, FLCA, as
counsel.

Michael P. Mallaney, Esq., at Hudson Mallaney Schindler &
Anderson, in West Des Moines, Iowa, represents the IC Committee as
counsel.


OGX PETROLEO: Shareholders Plan Legal Action Against Eike Batista
-----------------------------------------------------------------
Luciana Magalhaes, writing for Daily Bankruptcy Review, reported
that a group of shareholders of oil company OGX Petroleo e Gas
Participacoes plans to soon start legal action against the company
and its main shareholder, Brazilian entrepreneur Eike Batista,
according to lawyer Marcio Lobo, who has been hired to represent
them.

The group, according to Samantha Pearson, writing for The
Financial Times, is also preparing cases against OGX's former
independent directors, including Brazil's former finance minister.

The group has grown to about 60 minority investors, who say they
have collectively lost R$70m ($31m) in the company so far, the FT
report said.

It accuses Eike Batista of insider trading for selling 56m of his
OGX shares for R$75.4m between June 7 and June 13, the FT report
added.  According to CVM, Brazil's securities and exchange
commission, the sale was made a fortnight before OGX announced it
was suspending development of its only three producing oil wells.
The announcement helped drive shares down 35 per cent.

?It was clearly an act done in bad faith,? said Aurelio Valporto,
one investor from the group, which has grown from 20 to 60 members
in the past two weeks with the help of investor chat rooms and
social media.

Based in Rio de Janeiro, Brazil, OGX is an independent exploration
and production company with operations in Latin America.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 17, 2013, Moody's Investors Service downgraded OGX Petroleo e
Gas Participaaoes S.A.'s Corporate Family Rating to Ca from Caa2
and OGX Austria GmbH's senior unsecured notes ratings to Ca from
Caa2.  The rating outlook remains negative.


OMNICOMM SYSTEMS: Incurs $1.6 Million Net Loss in Second Quarter
----------------------------------------------------------------
OmniComm Systems, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $1.65 million on $3.72 million of total revenues for
the three months ended June 30, 2013, as compared with net income
of $1.55 million on $4.06 million of total revenues for the same
period during the prior year.


For the six months ended June 30, 2013, the Company incurred a net
loss of $6.19 million on $7.47 million of total revenues, as
compared with a net loss of $1.82 million on $7.83 million of
total revenues for the same period a year ago.

OmniComm Systems disclosed a net loss of $7.83 million in 2012, as
compared with a net loss of $3.52 million in 2011.

As of June 30, 2013, the Company had $3.16 million in total
assets, $38.10 million in total liabilities and a $34.93 million
total shareholders' deficit.

"The ability of the Company to continue in existence is dependent
on its having sufficient financial resources to bring products and
services to market for marketplace acceptance.  As a result of our
historical operating losses, negative cash flows and accumulated
deficits for the period ending June 30, 2013 there is substantial
doubt about the Company's ability to continue as a going concern,"
the Company said in the report.

Liggett, Vogt & Webb, P.A., in Boynton Beach, Florida, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company has a net loss attributable to
common shareholders of $8,062,487, a negative cash flow from
operations of $173,912, a working capital deficiency of
$13,382,871 and a stockholders' deficit of $28,973,300.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.

A copy of the Form 10-Q is available for free at:

                        http://is.gd/sB8BLO

                       About OmniComm Systems

Ft. Lauderdale, Fla.-based OmniComm Systems, Inc., is a healthcare
technology company that provides Web-based electronic data capture
("EDC") solutions and related value-added services to
pharmaceutical and biotech companies, clinical research
organizations, and other clinical trial sponsors principally
located in the United States and Europe.


ONCURE HOLDINGS: Files Schedules of Assets and Liabilities
----------------------------------------------------------
OnCure Holdings, Inc., delivered with the U.S. Bankruptcy Court
for the District of Delaware

                                         Assets      Liabilities
                                      -----------   -------------
A. Real Property                               $0
B. Personal Property                  $52,435,685
C. Property Claimed as Exempt                   -
D. Creditors Holding Secured Claims                  $225,000,000
E. Creditors Holding Unsecured
      Priority Claims                                          $0
F. Creditors Holding Unsecured
      Nonpriority Claims                                       $0
                                      -----------   -------------
Total                                 $52,435,685    $225,000,000

Full-text copies of the Schedules are available for free at:

         http://bankrupt.com/misc/ONCUREsal0802.pdf

                      About OnCure Holdings

Headquartered in Englewood, Colorado, OnCure Holdings, Inc. --
http://www.oncure.com/-- provides management services and
facilities to oncology physician groups throughout the country.

OnCure Holdings and its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 13-11540 to 13-11562) in
Wilmington on June 14, 2013.  Bradford C. Burkett signed the
petition as CEO.

On the Petition Date, the Debtors disclosed total assets of
$179,327,000 and total debts of $250,379,000.  There's at least
$15 million owing on a first-lien term loan facility, as well as
$210 million on prepetition secured notes.

Paul E. Harner, Esq., and Keith A. Simon, Esq., at Latham &
Watkins LLP, in New York, serve as the Debtors' lead bankruptcy
counsel.  Daniel J. DeFranceschi, Esq., at Richards, Layton &
Finger P.A., in Wilmington, Delaware, serves as the Debtors' local
Delaware counsel.  Kurtzman Carson Consultants is the claims and
notice agent.  Match Point Partners LLC provides management
services to OnCure.

The Debtors have signed a deal to sell the business to Radiation
Therapy Services Holdings Inc. for $125 million, absent higher and
better offers. RTS's offer comprises $42.5 million in cash (plus
covering certain expenses and subject to certain working capital
adjustments) and up to $82.5 million in assumed debt.  Secured
noteholders are supporting the RTS deal.

Millstein & Co., Kirkland & Ellis LLP, Alvarez & Marsal and
Deloitte advise Radiation Therapy in connection with the
transaction.

Promptly before the bankruptcy filing, the Debtors entered into a
restructuring support agreement with the members of an ad hoc
committee of its secured notes, constituting 100% of the lenders
under the first lien term loan credit agreement and approximately
73% of the secured notes, pursuant to which they have agreed to
support a stand-alone restructuring of the Debtors, subject to an
auction process for a sale of substantially all of the Debtors'
assets or the equity of the reorganized Debtors pursuant to a
chapter 11 plan.

Roberta A. DeAngelis, U.S. Trustee for Region 3 notified the Court
that she was unable to appoint an official committee of unsecured
creditors due to insufficient response from creditors.


ORAGENICS INC: Incurs $2.1 Million Net Loss in Second Quarter
-------------------------------------------------------------
Oragenics, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.07 million on $167,668 of net revenue for the three months
ended June 30, 2013, as compared with a net loss of $6.92 million
on $256,407 of net revenue for the same period during the prior
year.

For the six months ended June 30, 2013, the Company incurred a net
loss of $3.66 million on $344,075 of net revenue, as compared with
a net loss of $8.54 million on $636,934 of net revenue for the
same period a year ago.

Oragenics incurred a net loss of $13.09 million in 2012, as
compared with a net loss of $7.67 million in 2011.

As of June 30, 2013, the Company had $7.07 million in total
assets, $1.38 million in total liabilities, all current, and $5.68
million in total shareholders' equity.

A copy of the Form 10-Q is available for free at:

                        http://is.gd/pbi4uM

                        About Oragenics Inc.

Tampa, Fla.-based Oragenics, Inc. -- http://www.oragenics.com/--
is a biopharmaceutical company focused primarily on oral health
products and novel antibiotics.  Within oral health, Oragenics is
developing its pharmaceutical product candidate, SMaRT Replacement
Therapy, and also commercializing its oral probiotic product,
ProBiora3.  Within antibiotics, Oragenics is developing a
pharmaceutical candidate, MU1140-S and intends to use its
patented, novel organic chemistry platform to create additional
antibiotics for therapeutic use.


ORCKIT COMMUNICATIONS: Networks Terminates SIA
----------------------------------------------
Networks Inc. has delivered notice to Orckit terminating the
March 12, 2013, Strategic Investment Agreement on the grounds that
one of the conditions precedent for closing the transactions
contemplated by the SIA has not been satisfied.  This condition
precedent requires that the Israeli Office of the Chief Scientist
issue an approval of the transfer of intellectual property from
Orckit to Networks in a form satisfactory to Networks.

On Aug. 8, 2013, a meeting was held among representatives of
Orckit and Networks and the Deputy Chief Scientist in which the
concerns of Networks were discussed.  Following that meeting, the
OCS issued a revised draft approval that, in the view of Orckit,
satisfactorily addresses the concerns raised by Networks.

Orckit is examining its next steps, including the initiation of
legal action to enforce its rights under the SIA.

                            About Orckit

Tel-Aviv, Israel-based Orckit Communications Ltd. (TASE: ORCT)
engages in the design, development, manufacture and marketing of
advanced telecom equipment to telecommunication service providers
in metropolitan areas.  The Company's products are transport
telecommunication equipment targeting high capacity packetized
metropolitan networks.

ORCKIT Communications disclosed a net loss of $6.46 million on
$11.19 million of revenues for the year ended Dec. 31, 2012, as
compared with a net loss of $17.38 million on $15.58 million of
revenues for the year ended Dec. 31, 2011.  The Company's balance
sheet at March 31, 2013, showed US$14.93 million in total assets,
US$25.28 million in total liabilities and a US$10.35 million total
capital deficiency.

Kesselman & Kesselman, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2012.  The independent auditors noted that the Company has a
capital deficiency, recurring losses, negative cash flows from
operating activities and has significant future commitments to
repay its convertible subordinated notes.  These facts raise
substantial doubt as to the Company's ability to continue as a
going concern.


ORMET CORP: Facing Liquidity Crisis, Seeks $10MM in Add'l Loans
---------------------------------------------------------------
Michael Tanchuk, president and CEO of Ormet Corporation, said in
court papers that the Hannibal, Ohio-based aluminum producer does
"not currently have a sufficient source of revenue with which to
make payment of their chapter 11 expenses and operating expenses,
both of which are critical to avoid a shut-down of the Debtors'
businesses, the attendant loss of jobs and the devastating impact
on the local economy," absent an amendment to the Debtors'
postpetition financing agreement.

Ormet is asking the Bankruptcy Court to enter interim and final
orders authorizing the Debtors to enter into an amendment to the
Term Loan DIP Credit Agreement.  The DIP Amendment would provide
up to $10 million in funding under the Term Loan DIP Credit
Agreement, subject to certain closing conditions.  Specifically,
the DIP Amendment provides for:

     -- The amendment of Schedule 2.1(b) to the Term Loan DIP
        Credit Agreement to provide for up to a total delayed draw
        term loan of $25,000,000, of which $10,000,000 constitutes
        the Supplemental DIP Financing.

     -- In consideration of the Supplemental DIP Financing and
        entering into the DIP Amendment, the release of the DIP
        Term Loan Agent, the DIP Term Loan Secured Parties and
        certain parties related to each of the foregoing by each
        Borrower and each Obligor.

     -- As conditions precedent to the effectiveness of the
        DIP Amendment: (i) that there shall have been entered
        into an amendment to (a) the Revolving Loan DIP Credit
        Agreement and (b) the Intercreditor Agreement, each in
        form and substance satisfactory to the DIP Term Loan
        Secured Parties, permitting the incurrence of the
        Supplemental DIP Financing under the Term Loan DIP Credit
        Agreement, and (ii) an agreement by the Revolving Loan
        Secured Parties to make available not less than
        $4 million of additional liquidity under the Revolving
        Loan DIP Credit Agreement by removing or modifying
        certain blocks and/or reserves thereunder.

The total amount of funding under the DIP Term Loan Agreement will
increase to $40,000,000, of which $15,000,000 was initially drawn
pursuant to the Initial Term Loan and $15,000,000 was drawn as
delayed draws under the Term Loan DIP Credit Agreement.

On the Petition Date, the Debtors filed an Emergency Motion for
Interim and Final Orders (A) Authorizing Debtors to Obtain Post-
Petition Financing and Grant Security Interests and Super-Priority
Administrative Expense Status Pursuant to 11 U.S.C. Sections 105
and 364(a); (B) Modifying the Automatic Stay Pursuant to 11 U.S.C.
Sec. 362; (C) Authorizing Debtors to Enter Into Agreements With
Wells Fargo Capital Finance, LLC; (D) Authorizing Debtors to Enter
Into Agreements With Wayzata Investment Partners, LLC; and (E)
Scheduling a Final Hearing Pursuant to Bankruptcy Rule 4001.

On Feb. 27, 2013, the Court approved the DIP Motion, including
entry into the DIP Loan Documents, on an interim basis.  On March
22, 2013, the Court entered an order approving the DIP Motion on a
final basis.  Pursuant to the DIP Order, the Debtors were
authorized to borrow (a) up to $60,000,000 under the Revolving
Loan DIP Credit Agreement and the Revolving DIP Loan Documents and
(b) $30,000,000 under the Term Loan DIP Credit Agreement and the
Term DIP Loan Documents.

                Ormet Seeks to Delay Payment to AEP

On June 6, 2013, the Court authorized the Debtors to sell
substantially all of their assets to Smelter Acquisition
LLC.  As a condition to closing of the Sale, the Debtors are
required to obtain an order from the Public Utilities Commission
of Ohio providing for certain modifications to their existing
"Unique Arrangement," the arrangement by which the Debtors
purchase their electricity requirements from Ohio Power Company
d/b/a AEP Ohio.  The modifications would provide certainty as to
the cost at which the Buyer would be able to purchase electricity
upon closing.  To date, the Debtors have not obtained the PUCO
Order and, accordingly, have been unable to close the Sale.

On June 14, 2013, the Debtors filed their Motion to Amend the 2009
Unique Arrangement Between Ohio Power Company and Ormet Primary
Aluminum Corporation and Request for Emergency Relief.  The PUCO
scheduled an evidentiary hearing on the Motion to Modify for
Aug. 27.  Based on past experience, the Debtors believe that a
decision on the merits of the Motion to Modify from the PUCO may
take an additional 60 days from the date of the hearing, in late
October.  Accordingly, and given the current liquidity needed to
continue operations until the hearing can occur and a decision on
the merits be reached by the PUCO, on July 31, the Debtors filed a
Motion for Expedited Approval of Payment Deferral and Memorandum
in Support of Ormet Primary Aluminum Corporation before the PUCO,
in which they request the right to defer payment of the July and
August AEP invoices.  The PUCO has not yet ruled on the Deferral
Motion and AEP is opposing the relief requested.

In light of the pending proceedings before the PUCO and the
delayed closing of the Sale, the Debtors are facing a severe
liquidity crisis, Mr. Tanchuk said.

The Debtors' court papers said even if the deferrals requested in
the Deferral Motion are received, they will not, by themselves,
provide the Debtors sufficient liquidity to await a final decision
by the PUCO on the merits of the Motion to Modify. Accordingly,
the Debtors have requested additional funding from the DIP Term
Loan Secured Parties, as well as the Revolving Loan Secured
Parties.  The DIP Secured Parties and the Debtors have worked
diligently on the terms of such additional funding.

The Debtors initially anticipated filing an alternative version of
the Motion to Modify during the initial weeks of these bankruptcy
proceedings; however, as a result of an increase in the fuel
adjustment charge, as filed by AEP on March 1, 2013, four days
after the Petition Date, the Debtors were forced to reassess the
request for modifications.

The Debtors expect this additional funding will allow for
continued operations through mid-September, and together with the
request to defer payments to AEP Ohio, would allow for continued
operations through the end of October 2013, by which time the
Debtors expect to receive a ruling from the PUCO on the Motion to
Modify.

The Debtors noted that the Revolving Loan Secured Parties have not
agreed, and may not agree, to the requested accommodation of
providing for no less than $4 million of additional liquidity to
the Debtors under the Revolving Loan DIP Credit Agreement and
making the corresponding amendments to the Revolving Loan DIP
Credit Agreement in respect of the proposed amendments to the Term
Loan DIP Credit Agreement in connection with the Supplemental DIP
Financing.

                        About Ormet Corp.

Aluminum producer Ormet Corporation, along with affiliates, filed
for Chapter 11 protection (Bankr. D. Del. Case No. 13-10334) on
Feb. 25, 2013, with a deal to sell the business to a portfolio
company owned by private investment funds managed by Wayzata
Investment Partners LLC.

Headquartered in Wheeling, West Virginia, Ormet --
http://www.ormet.com/-- is a fully integrated aluminum
manufacturer, providing primary metal, extrusion and thixotropic
billet, foil and flat rolled sheet and other products.

Ormet disclosed assets of $406.8 million and liabilities totaling
$416 million.  Secured debt of about $180 million includes $139.5
million on a secured term loan and $39.3 million on a revolving
credit.

Affiliates that separately filed Chapter 11 petitions are Ormet
Primary Aluminum Corporation; Ormet Aluminum Mill Products
Corporation; Specialty Blanks Holding Corporation; and Ormet
Railroad Corporation.

Ormet is represented in the case by Morris, Nichols, Arsht &
Tunnell LLP's Erin R. Fay, Esq., Robert J. Dehney, Esq., Daniel B.
Butz, Esq.; and Dinsmore & Shohl LLP's Kim Martin Lewis, Esq.,
Patrick D. Burns, Esq.  Kurtzman Carson Consultants is the claims
and notice agent.  Evercore's Lloyd Sprung and Paul Billyard serve
as investment bankers to the Debtor.

An official committee of unsecured creditors was appointed in the
case in March 2013.  The Committee is represented by:

          Rafael X. Zahralddin, Esq.
          Shelley A. Kinsella, Esq.
          Jonathan M. Stemerman, Esq.
          ELLIOTT GREENLEAF
          1105 North Market Street, Suite 1700
          Wilmington, DE 19801
          Telephone: 302-384-9400
          Facsimile: 302-384-9399
          E-mail: rxza@elliottgreenleaf.com
                  sak@elliottgreenleaf.com
                  jms@elliottgreenleaf.com

               - and -

          Sharon Levine, Esq.
          S. Jason Teele, Esq.
          Cassandra M. Porter, Esq.
          LOWENSTEIN SANDLER LLP
          65 Livingston Avenue
          Roseland, NJ 07068
          Telephone: 973-597-2500
          Facsimile: 973-597-2400
          E-mail: steele@lowenstein.com
                  cporter@lowenstein.com

In June 2013, the Bankruptcy Court approved the sale of
substantially all of the assets of Ormet to Smelter Acquisition,
LLC, a portfolio company owned by private investment funds managed
by Wayzata Investment Partners LLC.  With no competing bids,
Wayzata acquired the business in exchange for $130 million in
secured debt plus the loan financing bankruptcy.  In connection
with its restructuring, Ormet received aggregate commitments of
$90 million of DIP Financing, consisting of $30 million in Term
DIP financing from Wayzata and a $60 million DIP facility from
Wells Fargo, which replaced its $60 million pre-petition revolver
with Ormet.


ORMET CORP: Seeks Emergency Approval for Extra $10-Mil. Loan
------------------------------------------------------------
Law360 reported that troubled aluminum smelter Ormet Corp.
launched an emergency motion asking a Delaware bankruptcy judge to
bless a $10 million expansion of its debtor-in-possession loan,
saying the extra funds are crucial as it fights to stay afloat
until its court-approved sale to a private equity firm can close.

According to the report, designed to close by the end of July, its
$130 million sale to firm Wayzata Investment Partners LLC has been
pending while Ormet awaits a key ruling from Ohio utility
regulators as a condition of the deal.

                         About Ormet Corp.

Aluminum producer Ormet Corporation, along with affiliates, filed
for Chapter 11 protection (Bankr. D. Del. Case No. 13-10334) on
Feb. 25, 2013, with a deal to sell the business to a portfolio
company owned by private investment funds managed by Wayzata
Investment Partners LLC.

Headquartered in Wheeling, West Virginia, Ormet --
http://www.ormet.com/-- is a fully integrated aluminum
manufacturer, providing primary metal, extrusion and thixotropic
billet, foil and flat rolled sheet and other products.

Ormet disclosed assets of $406.8 million and liabilities totaling
$416 million.  Secured debt of about $180 million includes $139.5
million on a secured term loan and $39.3 million on a revolving
credit.

Attorneys at Dinsmore & Shohl LLP and Morris, Nichols, Arsht &
Tunnell LLP serve as counsel to the Debtors.  Kurtzman Carson
Consultants is the claims and notice agent.  Evercore's Lloyd
Sprung and Paul Billyard serve as investment bankers to the
Debtor.


PATIENT SAFETY: Incurs $568,600 Net Loss in Second Quarter
----------------------------------------------------------
Patient Safety Technologies, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss applicable to common shareholders of
$568,615 on $4.95 million of revenues for the three months ended
June 30, 2013, as compared with a net loss applicable to common
shareholders of $656,992 on $4.40 million of revenues for the same
period during the prior year.

For the six months ended June 30, 2013, the Company incurred a net
loss applicable to common shareholders of $1.39 million on $9.71
million of revenues, as compared with a net loss applicable to
common shareholders of $2.08 million on $7.50 million of revenues
for the same period a year ago.

Patient Safety reported a net loss of $1.89 million in 2011,
compared with net income of $2 million during the prior year.

As of June 30, 2013, the Company had $17.97 million in total
assets, $6.08 million in total liabilities and $11.89 million in
total stockholders' equity.

A copy of the Form 10-Q is available for free at:

                        http://is.gd/f3Izsc

                  About Patient Safety Technologies

Patient Safety Technologies, Inc. (OTC: PSTX) --
http://www.surgicountmedical.com/-- through its wholly owned
operating subsidiary SurgiCount Medical, Inc., provides the
Safety-Sponge(TM) System, a system designed to improve the
standard of patient care and reduce health care costs by
preventing the occurrence of surgical sponges and other retained
foreign objects from being left inside patients after surgery.
RFOs are among one of the most common surgical errors.


PATRIOT COAL: Statements on New CBA Agreements Filed
----------------------------------------------------
BankruptcyData reported that U.S. Bank National Association, as
indenture trustee, filed with the U.S. Bankruptcy Court a
statement with respect to Patriot Coal's motion for entry of an
order to (i) enter into new collective bargaining agreements with
the United Mine Workers of America (UMWA), (ii) enter into a
memorandum of understanding with the UMWA and (iii) take such
actions as may be necessary or desirable in connection with or in
furtherance of the 1113 settlement and the 1114 settlement.

U.S. Bank states, "The Trustee supports a consensual resolution of
the 1113/1114 Motion as an effort that presumably will move these
bankruptcy cases forward. However, the Trustee takes no position
on the substance of the 1113/1114 Settlement Motion and the issues
raised therein. The Trustee files this response to renew its
consistent position that to the extent that any order on the
relief requested in the 1113/1114 Settlement Motion should avoid
directly or indirectly any ruling on the substantive consolidation
or non-consolidation of the Debtors' estates or the allowance or
disallowance of intercompany claims. Any such determinations
should be made by this Court only after appropriate disclosure to
and an opportunity to be heard from all creditors of these
estates, including the holders of the Notes, under the safeguards
of a confirmation process pursuant to sections 1125, 1126, 1129
and other applicable provisions of the Bankruptcy Code. Therefore,
the Trustee respectfully requests that the Court refrain from
entering any order on the 1113/1114 Settlement Motion that has a
preclusive effect on the substantive consolidation or non-
consolidation of the Debtors estates, the allowance or
disallowance of intercompany claims, or other plan of
reorganization issues. With respect to all other issues raised in
the 1113/1114 Settlement Motion, the Trustee takes no position."

The official committee of unsecured creditors also filed a
separate statement in support of the Debtor's motion, the report
related.

                        About Patriot Coal

St. Louis-based Patriot Coal Corporation (NYSE: PCX) is a producer
and marketer of coal in the eastern United States, with 13 active
mining complexes in Appalachia and the Illinois Basin.  The
Company ships to domestic and international electricity
generators, industrial users and metallurgical coal customers, and
controls roughly 1.9 billion tons of proven and probable coal
reserves.

Patriot Coal and nearly 100 affiliates filed voluntary Chapter 11
petitions in U.S. bankruptcy court in Manhattan (Bankr. S.D.N.Y.
Lead Case No. 12-12900) on July 9, 2012.  Patriot said it had
$3.57 billion of assets and $3.07 billion of debts, and has
arranged $802 million of financing to continue operations during
the reorganization.

Davis Polk & Wardwell LLP serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  Blackstone
Advisory Partners LP is serving as financial advisor, and AP
Services, LLC is providing interim management services to Patriot
in connection with the reorganization.  Ted Stenger, a Managing
Director at AlixPartners LLP, the parent company of AP Services,
has been named Chief Restructuring Officer of Patriot, reporting
to the Chairman and CEO.  GCG, Inc. serves as claims and noticing
agent.

The U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
HoulihanLokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed December 19 by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.


PATRIOT COAL: UMWA Members Ratify Settlement
--------------------------------------------
Members of the United Mine Workers of America (UMWA) who work at
Patriot Coal operations in West Virginia and Kentucky on Aug. 16
ratified a settlement the union reached with the company late last
week that makes significant improvements in terms and conditions
of employment over a federal Bankruptcy Judge's order from last
May.

The final tally was 85% in favor to 15% opposed.  Members from 13
local unions participated in the vote, which was overseen by UMWA
local union tellers and conducted at worksites.  The UMWA
International Auditor/Tellers have certified the vote.

"The membership has made it clear that they are willing to do
their part to keep Patriot operating, keep their jobs and ensure
that thousands of retirees continue getting the health care they
depend on and deserve," UMWA International President Cecil E.
Roberts said.  "This has been a difficult and uncertain year for
our members.  But I believe that in the end, they understood that
we had done a lot to improve what the judge had ordered.  They
also understood all that was at stake and resolved to move forward
in a positive way.

"But as we work to keep Patriot a viable company into the future,
we have not forgotten how we got here and who is responsible,"
Ms. Roberts said.  "With this agreement, we have foiled the
schemes of Peabody Energy and Arch Coal by continuing to both
provide health care for retirees and maintain union jobs at these
mines."

Ms. Roberts noted that the settlement with Patriot does not
provide enough resources to fulfill the promise of lifetime health
care benefits that Peabody and Arch agreed to provide to thousands
of retirees from those companies.

"We are now able to turn our full attention to securing the
lifetime health care benefits Peabody and Arch promised these
retirees," Ms. Roberts said.  "If those companies thought our
public effort to highlight their poor corporate citizenship was
over, they will quickly find out otherwise.  We're moving into a
new phase of that effort, and soon.  We fully intend to hold
Peabody and Arch accountable.

"It is also more critical than ever that the bipartisan
legislative efforts in Congress to provide help to these retirees
move forward," Ms. Roberts said.  "This settlement has not solved
that problem, it has only bought us time to seek a more permanent
solution.

"The clock is now ticking towards a day when the funding we have
been able to secure for retiree health care benefits will run
out," Ms. Roberts said.  "It would be unconscionable to leave
these senior citizens hanging, wondering if they will be again
thrust into the uncertainty they have endured the last 13 months.
I urge our friends in Congress on both sides of the aisle to move
as fast as they can to renew the government's promise to these
retirees, their dependents and widows."

                        About Patriot Coal

St. Louis-based Patriot Coal Corporation (NYSE: PCX) is a producer
and marketer of coal in the eastern United States, with 13 active
mining complexes in Appalachia and the Illinois Basin.  The
Company ships to domestic and international electricity
generators, industrial users and metallurgical coal customers, and
controls roughly 1.9 billion tons of proven and probable coal
reserves.

Patriot Coal and nearly 100 affiliates filed voluntary Chapter 11
petitions in U.S. bankruptcy court in Manhattan (Bankr. S.D.N.Y.
Lead Case No. 12-12900) on July 9, 2012.  Patriot said it had
$3.57 billion of assets and $3.07 billion of debts, and has
arranged $802 million of financing to continue operations during
the reorganization.

Davis Polk & Wardwell LLP serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  Blackstone
Advisory Partners LP is serving as financial advisor, and AP
Services, LLC is providing interim management services to Patriot
in connection with the reorganization.  Ted Stenger, a Managing
Director at AlixPartners LLP, the parent company of AP Services,
has been named Chief Restructuring Officer of Patriot, reporting
to the Chairman and CEO.  GCG, Inc. serves as claims and noticing
agent.

The U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
HoulihanLokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed December 19 by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.


PENN CENTRAL: 3rd Circ. Backs $14.7MM Award to Former Employees
---------------------------------------------------------------
Law360 reported that the Third Circuit upheld a nearly $15 million
arbitration award for former Penn Central Transportation Co.
employees and their estates against successor company American
Premier Underwriters Inc., ruling in the 44-year-old dispute that
PCTC's reorganization didn't modify wage and benefit obligations
to the workers.

Despite that vintage, it was only in 2009 that an arbitration
panel awarded 32 claimants $564,820 in benefits based on a 1964
merger protection agreement, along with more than $13.4 million in
prejudgment interest, according to the opinion, the report
related.

The case is In The Matter of Penn Central Transportation Co., No.
70-347 (E.D. Pa.).


PENSON WORLDWIDE: 5th Amended Liquidation Plan Effective
--------------------------------------------------------
BankruptcyData reported that Penson Worldwide's Fifth Amended
Joint Liquidation Plan became effective, and the Company emerged
from Chapter 11 protection.  The Court confirmed the Plan on
July 31, 2013.

According to documents filed with the Court, "The Plan provides
for the Debtors' property to be liquidated, and for the proceeds
of the liquidation, including any recoveries obtained from
litigation against third parties, to be distributed to holders of
Allowed Claims and Equity Interests in accordance with the terms
of the Plan and the priority of claims provisions of the
Bankruptcy Code. The Plan further provides that on or before the
Effective Date, Penson Technologies LLC ('PTL') will be formed as
a Delaware limited liability company and all assets of the Debtors
will be conveyed and transferred to PTL for the liquidation,
administration, and distribution of the Debtors' property by
PTL....Pursuant to the PTL LLC Agreement, PTL will be managed by
the Board of Managers will consists of two members appointed by
the Second Lien Noteholders Committee, one member appointed by the
Convertible Noteholders Committee and one member appointed by the
Committee."

                    About Penson Worldwide

Plano, Texas-based Penson Worldwide Inc. and its affiliates filed
for Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 13-10061)
on Jan. 11, 2013.

Founded in 1995, Penson Worldwide is provider of a range of
critical securities and futures processing infrastructure products
and services to the global financial services industry.  The
company's products and services include securities and futures
clearing and execution, financing and cash management technology
and other related offerings, and it provides tools and services to
support trading in multiple markets, asset classes and currencies.

Penson was one of the top two clearing brokers overall in the
United States.  Its foreign-based subsidiaries were some of the
largest independent clearing brokers in Canada and Australia and
the second largest independent clearing broker in the United
Kingdom as of Dec. 31, 2010.

In 2012, the company sold its futures division to Knight Capital
Group Inc. and its broker-deal subsidiary to Apex Clearing Corp.
But the company was unable to successfully streamline is business
after the asset sales.

Attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP, and
Young, Conaway, Stargatt & Taylor serve as counsel to the Debtors.
Kurtzman Carson Consultants LLC is the claims and notice agent.

The U.S. Trustee for Region 3 appointed three members to the
Official Committee of Unsecured Creditors: (i) Schonfeld Group
Holdings LLC; (ii) SunGard Financial Systems LLC; and (iii) Wells
Fargo Bank, N.A., as Indenture Trustee.  The Committee selected
Hahn & Hessen LLP and Cousins Chipman & Brown, LLP to serve as its
co-counsel, and Capstone Advisory Group, LLC, as its financial
advisor.  Kurtzman Carson Consultants LLC serves as its
information agent.

The company estimated $100 million to $500 million in assets and
liabilities in its Chapter 11 petition.  The last publicly filed
financial statements as of June 30 showed assets of $1.17 billion
and liabilities totaling $1.227 billion.


PEREGRINE FINANCIAL: US Bank Is Complicit in Fraud, CFTC Says
-------------------------------------------------------------
Law360 reported that the U.S. Commodity Futures Trading Commission
bucked U.S. Bank NA's bid to toss a suit accusing it of helping
bankrupt Peregrine Financial Group Inc.'s former CEO
misappropriate $215 million in customer funds, arguing the bank is
directly liable for violating the Commodity Exchange Act.

According to the report, the regulator told an Iowa federal court
that its complaint contains detailed factual allegations
describing U.S. Bank's knowledge that it was holding Peregrine
customer funds regulated by the CEA, its illegal use of those
funds and its subsequent gains from those funds.

The case is US Commodity Futures Trading Commission v. US Bank,
NA, Case No. 6:13-cv-02041 (N.D. Iowa), before Judge Linda R.
Reade.

                   About Peregrine Financial

Peregrine Financial Group Inc. filed to liquidate under Chapter 7
of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 12-27488)
on July 10, 2012, disclosing between $500 million and $1 billion
of assets, and between $100 million and $500 million of
liabilities.

Earlier that day, at the behest of the U.S. Commodity Futures
Trading Commission, a U.S. district judge appointed a receiver and
froze the firm's assets.  The firm put itself into bankruptcy
liquidation in Chicago later the same day.  The CFTC had sued
Peregrine, saying that more than $200 million of supposedly
segregated customer funds had been "misappropriated."  The CFTC
case is U.S. Commodity Futures Trading Commission v. Peregrine
Financial Group Inc., 12-cv-5383, U.S. District Court, Northern
District of Illinois (Chicago).

Peregrine's CEO Russell R. Wasendorf Sr. unsuccessfully attempted
suicide outside a firm office in Cedar Falls, Iowa, on July 9.

The bankruptcy petition was signed in his place by Russell R.
Wasendorf Jr., the firm's chief operating officer. The resolution
stated that Wasendorf Jr. was given a power of attorney on July 3
to exercise if Wasendorf Sr. became incapacitated.

Peregrine Financial is the regulated unit of the brokerage
PFGBest.


PHILADELPHIA, PA: Borrows So Its Schools Open on Time
-----------------------------------------------------
Rick Lyman and Mary Williams Walsh, writing for The New York
Times, reported that just a month after Detroit became the largest
American city to file for bankruptcy, and with major cities like
Chicago and Los Angeles struggling, Philadelphia, a former
manufacturing behemoth, is also edging toward a financial
precipice. But here the troubles are centered on the cash-starved
public schools system.

The situation is not as dire yet as Detroit's, WSJ said.  There is
no talk of resorting to bankruptcy. But the problem is so severe
that the city agreed at the last minute to borrow $50 million just
to be able to open schools on time. Even with that money, schools
will open Sept. 9 with a minimum of staffing and sharply curtailed
extracurricular activities and other programs.

"The concept is just jaw-dropping," said Helen Gym, who has three
children in the city's public schools, the report cited.  "Nobody
is talking about what it takes to get a child educated. It's just
about what the lowest number is needed to get the bare minimum.
That's what we're talking about here: the deliberate starvation of
one of the nation's biggest school districts."

Superintendent William R. Hite Jr. had been threatening to delay
opening schools if the city did not come through with the $50
million, which he said was necessary to provide the minimum
staffing needed for the basic safety of the district's 136,000
students, the report related.  In June, the district closed 24
schools and laid off 3,783 employees, including 127 assistant
principals, 646 teachers and more than 1,200 aides, leaving no one
even to answer phones.

For a number of years, Mayor Michael A. Nutter and the City
Council have been working, with some success and a fair amount of
taxpayer pain, to shore up the city's finances, which have been
troubled by mounting debt, a shrinking tax base and unfunded
pension and health care obligations to retirees, the report
related.  But the school district, supported by the same weary
municipal taxpayers, though under the control of a state reform
commission for more than a decade, had been largely ignored.


PHYSICAL PROPERTY: Incurs HK$43,000 Net Loss in Second Quarter
--------------------------------------------------------------
Physical Property Holdings Inc. filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss and total comprehensive loss of HK$43,000 on HK$275,000
of total operating revenues for the three months ended June 30,
2013, as compared with a net loss and total comprehensive loss of
HK$175,000 on HK$145,000 of total operating revenues for the same
period during the prior year.

For the six months ended June 30, 2013, the Company incurred a net
loss and total comprehensive loss of HK$180,000 on HK$503,000 of
total operating revenues, as compared with a net loss and total
comprehensive loss of HK$272,000 on HK$376,000 of total operating
revenues for the same period a year ago.

Physical Property disclosed a net loss and comprehensive loss of
HK$514,000 on HK$841,000 in 2012, as compared with a net loss and
comprehensive loss of HK$524,000 in 2011.

The Company's balance sheet at June 30, 2013, showed HK$9.81
million in total assets, HK$11.52 million in total liabilities,
all current, and a HK$1.71 million total stockholders' deficit.

"The Company had negative working capital of HK$11,482,000 as of
June 30, 2013 and incurred losses of HK$180,000 and HK$272,000 for
the six months ended June 30, 2013 and 2012 respectively.  These
conditions raised substantial doubt about the Company's ability to
continue as a going concern," the Company said in the Report.

Mazars CPA Limited, in Hong Kong, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012, citing negative working capital as of
Dec. 31, 2012, and loss for the year then ended, which raised
substantial doubt about its ability to continue as a going
concern.

A copy of the Form 10-Q is available for free at:

                        http://is.gd/FN5U1O

                      About Physical Property

Located in Hong Kong, Physical Property Holdings Inc., through its
wholly-owned subsidiary, Good Partner Limited, owns five
residential apartments located in Hong Kong.  The Company was
incorporated in the State of Delaware.


PICCADILLY RESTAURANT: Hearing Today on Exclusivity Extension Bid
-----------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Aug. 20, 2013, at
10 a.m., to consider Piccadilly Restaurants, LLC's third request
for exclusivity extension.

At the hearing, the Court will also consider objections to the
Debtors' motion.

The Official Committee of Unsecured Creditors, in its objection,
requests that the Court deny an extension and immediately
terminate exclusivity.  The Committee said that to grant the
Debtors' request would only delay the plan process and muster the
estates with additional costs without any prospective
corresponding benefit.

Atalaya Administrative LLC, in its capacity as administrative
agent for the prepetition and postpetition lenders to the Debtors,
in its objection, stated that despite multiple overtures from
Atalaya to discuss a plan, and indications that it would be
reasonable in restructuring the Debtors' balance sheet, the
Debtors steadfastly refused to talk.  Atalaya stated that
exclusivity must not be used to hold creditors hostage.

The Debtors requested that the Court extend their exclusive
periods to solicit acceptance for the Plan until Nov. 12, 2013.

The Debtors relate that they need more time to continue
negotiations with creditors.

As reported in the Troubled Company Reporter on July 22, 2013, the
Debtors' Joint Chapter 11 Plan of Reorganization proposed with
Yucaipa Corporate Initiatives Fund I, L.P., contemplates that
Yucaipa will advance cash to the Debtors, which will be available
to the Reorganized Debtors for the purpose of effectuating the
Joint Plan.  The Yucaipa Advance will accrue interest at a fixed
rate of 9% per annum, with the Debtors' obligation to pay the
Advance be secured with a first priority lien.  Payment of the
Yucaipa Advance will be subordinated to the General Unsecured
Claim Note in right of payment -- but not in lien priority --
until the General Unsecured Claim Note is paid in full.

                  About Piccadilly Restaurants

Piccadilly Restaurants, LLC, and two affiliated entities sought
Chapter 11 bankruptcy protection (Bankr. W.D. La. Case Nos.
12-51127 to 12-51129) on Sept. 11, 2012.  The affiliates are
Piccadilly Food Service, LLC, and Piccadilly Investments LLC.

Piccadilly Restaurants, LLC, headquartered in Baton Rouge,
Louisiana, is the largest cafeteria-style restaurant in the United
States, with operations in 10 states in the Southeast and Mid-
Atlantic regions.  It is wholly owned by Piccadilly Investments,
LLC.  Piccadilly operates an institutional foodservice division
through a wholly owned subsidiary, Piccadilly Food Service, LLC,
servicing schools and other organizations.  With a history dating
back to 1944, the Company operates 81 restaurants at three owned
and 78 leased locations.

Then known as Piccadilly Cafeterias, Inc., the Company filed for
Chapter 11 relief (Bankr. S.D. Fla. Case No. 03-27976) on Oct. 29,
2003.  Paul Steven Singerman, Esq., and Jordi Guso, Esq., at
Berger Singerman, P.A. represented the Debtor in the case.  After
Piccadilly declared bankruptcy under Chapter 11, but before its
plan was submitted to the Bankruptcy Court for the Southern
District of Florida, the Bankruptcy Court authorized Piccadilly to
sell its assets to Yucaipa Cos., for about $80 million.  In
October 2004, the Bankruptcy Court confirmed the plan.

Judge Robert Summerhays oversees the 2012 cases.  Mark A. Mintz,
Esq. at Jones Walker LLP represents the Debtors in their
restructuring efforts.  BMC Group, Inc., serves as claims agent,
noticing agent and balloting agent.  In its schedules, the Debtor
disclosed $34,952,780 in assets and $32,000,929 in liabilities.

New York-based vulture fund Atalaya Administrative LLC, in its
capacity as administrative agent for Atalaya Funding II, LP,
Atalaya Special Opportunities Fund IV LP (Tranche B), and Atalaya
Special Opportunities Fund (Cayman) IV LP (Tranche B), the
Debtors' prepetition secured lender, is represented in the case
by lawyers at Carver, Darden, Koretzky, Tessier, Finn, Blossman &
Areaux, L.L.C.; and Patton Boggs, LLP.

Henry G. Hobbs, Jr., Acting United States Trustee for Region 5,
has appointed seven members to the official committee of unsecured
creditors in the Debtors' Chapter 11 cases.  In October, the
Committee sought and obtained Court approval to employ Frederick
L. Bunol, Albert J. Derbes, IV, of The Derbes Law Firm, L.L.C. as
attorneys.


PICCADILLY RESTAURANTS: Sept. 17 Hearing to Approve Plan Outline
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Louisiana
continued until Sept. 17, 2013, at 1:30 p.m., the hearing to
consider the adequacy of information in the Disclosure Statement
explaining Piccadilly Restaurants, LLC, et al.'s Joint
Reorganization Plan.

As reported in the Troubled Company Reporter on July 22, 2013, the
Debtors together with Yucaipa Corporate Initiatives Fund I, L.P.,
filed a Joint Plan which contemplates that Yucaipa will advance
cash to the Debtors, which will be available to the Reorganized
Debtors for the purpose of effectuating the Joint Plan.  The
Yucaipa Advance will accrue interest at a fixed rate of 9% per
annum, with the Debtors' obligation to pay the Advance be secured
with a first priority lien.  Payment of the Yucaipa Advance will
be subordinated to the General Unsecured Claim Note in right of
payment -- but not in lien priority -- until the General Unsecured
Claim Note is paid in full.

On the Plan Effective Date, Piccadilly Investments will form a
direct subsidiary, Intermediate Holdco, to which it will transfer
its Interests in Piccadilly Restaurants.

An administrator will be appointed under the Plan, who will be
responsible for collecting and disbursing Cash from the General
Unsecured Distribution Account, among other things.  The
administrator will be selected by Yucaipa.

The Plan also provides for the classification and treatment of
claims against, and interests in, the Debtors -- 5 claim classes
against each of Piccadilly Food Service LLC and Piccadilly
Investments LLC and 7 claim classes against Piccadilly Restaurants
LLC.  Claim classes common to all three Debtors are Other Priority
Claims; Atalaya Secured Claim; Other Secured Claims; General
Unsecured Claims and Interests -- with Piccadilly Restaurants
having two more claim classes, Convenience Claims and Litigation
Claims.

For the Atalaya Secured Claim, a New Atalaya Secured Note will be
executed and delivered to Atalaya on the Effective Date.  The New
Note will provide for interest at a rate of 4.75% per annum,
payable quarterly in Cash.

Convenience Claims will receive 100% of the Allowed Amount,
provided that the aggregate amount of Convenience Claims will not
exceed $500,000.

For the General Unsecured Claims, the Reorganized Debtors will
deposit $700,000 into a General Unsecured Distribution Account.
On the Effective Date, the Reorganized Debtors will execute the
General Unsecured Claim Note in an amount equal to 100% of the
face amount of the Allowed General Unsecured Claims.  The Note
will bear interest at a fixed per annum rate of 9% until paid in
full, and will mature and become payable in 24 months after the
Effective Date.

The Plan is signed by Thomas J. Sandeman, Chief Executive Officer
of Piccadilly Restaurants, LLC and Robert P. Bermingham, Vice-
President of Yucaipa Corporate Initiatives Fund I, LLC.

Full-text copies of the Joint Chapter 11 Plan and Disclosure
Statement dated July 8, 2013, are available for free at:

      http://bankrupt.com/misc/PICCADILLYREST_PlanDSJul8.pdf

Counsel to Debtors Piccadilly Restaurants, LLC; Piccadilly Food
Service, LLC; and Piccadilly Investments, LLC is Elizabeth J.
Futrell, Esq., at Jones Walker LLP.

Counsel for Yucaipa Corporate Initiatives Fund I, L.P., are Robert
Klyman, Esq., at Latham & Watkins, LLP, and William H. Patrick,
III, Esq., at Heller, Draper, Patrick & Horn.

                  About Piccadilly Restaurants

Piccadilly Restaurants, LLC, and two affiliated entities sought
Chapter 11 bankruptcy protection (Bankr. W.D. La. Case Nos.
12-51127 to 12-51129) on Sept. 11, 2012.  The affiliates are
Piccadilly Food Service, LLC, and Piccadilly Investments LLC.

Piccadilly Restaurants, LLC, headquartered in Baton Rouge,
Louisiana, is the largest cafeteria-style restaurant in the United
States, with operations in 10 states in the Southeast and Mid-
Atlantic regions.  It is wholly owned by Piccadilly Investments,
LLC.  Piccadilly operates an institutional foodservice division
through a wholly owned subsidiary, Piccadilly Food Service, LLC,
servicing schools and other organizations.  With a history dating
back to 1944, the Company operates 81 restaurants at three owned
and 78 leased locations.

Then known as Piccadilly Cafeterias, Inc., the Company filed for
Chapter 11 relief (Bankr. S.D. Fl. Case No. 03-27976) on Oct. 29,
2003.  Paul Steven Singerman, Esq., and Jordi Guso, Esq., at
Berger Singerman, P.A. represented the Debtor in the case.  After
Piccadilly declared bankruptcy under Chapter 11, but before its
plan was submitted to the Bankruptcy Court for the Southern
District of Florida, the Bankruptcy Court authorized Piccadilly to
sell its assets to Yucaipa Cos., for about $80 million.  In
October 2004, the Bankruptcy Court confirmed the plan.

Judge Robert Summerhays oversees the 2012 cases.  Lawyers at
Jones, Walker, Waechter, Poitevent, Carrere & Denegre, LLP, in New
Orleans, serve as the 2012 Debtors' counsel.  BMC Group, Inc.,
serves as claims agent, noticing agent and balloting agent.  In
its schedules, the Debtor disclosed $34,952,780 in assets and
$32,000,929 in liabilities.

New York-based vulture fund Atalaya Administrative LLC, in its
capacity as administrative agent for Atalaya Funding II, LP,
Atalaya Special Opportunities Fund IV LP (Tranche B), and Atalaya
Special Opportunities Fund (Cayman) IV LP (Tranche B), the
Debtors' prepetition secured lender, is represented in the case
by lawyers at Carver, Darden, Koretzky, Tessier, Finn, Blossman &
Areaux, L.L.C.; and Patton Boggs, LLP.

Henry G. Hobbs, Jr., Acting United States Trustee for Region 5,
has appointed seven members to the official committee of unsecured
creditors in the Debtors' Chapter 11 cases.  In October, the
Committee sought and obtained Court approval to employ Frederick
L. Bunol, Albert J. Derbes, IV, of The Derbes Law Firm, L.L.C. as
attorneys.


PICADILLY RESTAURANT: Hearing on Protiviti Hiring Continued Today
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Louisiana
continued until Aug. 20, 2013, at 10 a.m., the hearing to consider
a request from the Official Committee of Unsecured Creditors in
the Chapter 11 case of Piccadilly Restaurants, LLC to amend the
engagement of Protiviti, Inc.

The Committee asked that the Court: (a) grant Protiviti $50,000 to
compensate it for a portion of its $142,634 overage; and (b)
revise Protiviti's fixed monthly fee to $75,000 per month, nunc
pro tunc to July 1, 2013, for the increased workload now required
of Protiviti to engage in an adversarial and protracted plan
confirmation procedure with the Debtors, their prepetition equity
and secured lenders.

According to the Committee, since its engagement, Protiviti has
incurred some fee overage each month.  However, its work was
generally within the range of compensation initially contemplated
by the parties, so Protiviti has not until now sought additional
compensation.

                  About Piccadilly Restaurants

Piccadilly Restaurants, LLC, and two affiliated entities sought
Chapter 11 bankruptcy protection (Bankr. W.D. La. Case Nos.
12-51127 to 12-51129) on Sept. 11, 2012.  The affiliates are
Piccadilly Food Service, LLC, and Piccadilly Investments LLC.

Piccadilly Restaurants, LLC, headquartered in Baton Rouge,
Louisiana, is the largest cafeteria-style restaurant in the United
States, with operations in 10 states in the Southeast and Mid-
Atlantic regions.  It is wholly owned by Piccadilly Investments,
LLC.  Piccadilly operates an institutional foodservice division
through a wholly owned subsidiary, Piccadilly Food Service, LLC,
servicing schools and other organizations.  With a history dating
back to 1944, the Company operates 81 restaurants at three owned
and 78 leased locations.

Then known as Piccadilly Cafeterias, Inc., the Company filed for
Chapter 11 relief (Bankr. S.D. Fla. Case No. 03-27976) on Oct. 29,
2003.  Paul Steven Singerman, Esq., and Jordi Guso, Esq., at
Berger Singerman, P.A. represented the Debtors in the case.  After
Piccadilly declared bankruptcy under Chapter 11, but before its
plan was submitted to the Bankruptcy Court for the Southern
District of Florida, the Bankruptcy Court authorized Piccadilly to
sell its assets to Yucaipa Cos., for about $80 million.  In
October 2004, the Bankruptcy Court confirmed the plan.

Judge Robert Summerhays oversees the 2012 cases.  Lawyers at
Jones, Walker, Waechter, Poitevent, Carrere & Denegre, LLP, in New
Orleans, serve as the 2012 Debtors' counsel.  BMC Group, Inc.,
serves as claims agent, noticing agent and balloting agent.  In
its schedules, the Debtor disclosed $34,952,780 in assets and
$32,000,929 in liabilities.

New York-based vulture fund Atalaya Administrative LLC, in its
capacity as administrative agent for Atalaya Funding II, LP,
Atalaya Special Opportunities Fund IV LP (Tranche B), and Atalaya
Special Opportunities Fund (Cayman) IV LP (Tranche B), the
Debtors' prepetition secured lender, is represented in the case
by lawyers at Carver, Darden, Koretzky, Tessier, Finn, Blossman &
Areaux, L.L.C.; and Patton Boggs, LLP.

Henry G. Hobbs, Jr., Acting United States Trustee for Region 5,
has appointed seven members to the official committee of unsecured
creditors in the Debtors' Chapter 11 cases.  In October, the
Committee sought and obtained Court approval to employ Frederick
L. Bunol, Albert J. Derbes, IV, of The Derbes Law Firm, L.L.C. as
attorneys.


PJ HANLEY'S: Bankruptcy Baron to "Finally Pay the Piper"
--------------------------------------------------------
Adrianne Pasquarelli, writing for Crain's New York Business,
reported that James McGown, the bar owner, restaurateur and real
estate developer who has left a trail of bankruptcy petitions
across the city in recent years, has taken a legal hit. A judge on
Aug. 15 denied Mr. McGown's request for an injunction that would
have stopped his landlord from terminating his lease and evicting
him from Brooklyn's oldest bar, a Carroll Gardens establishment
formerly known as PJ Hanley's.

Earlier this year, Mr. McGown filed for Chapter 11 bankruptcy
protection for P.J. Hanley's at 449-451 Court St., the report
related.  He initially said that he would be auctioning off the
business, but eventually rebranded the bar as Goldenrod, which
opened just days ago, in early August. As part of the rebranding,
he reportedly extensively renovated the space into an 1890s
revival alehouse, complete with a tin ceiling and new floor.
However, according to legal documents filed by the landlord for
the space, the Hanley family's Kiwi Pub Corp., Mr. McGown did not
have permission to make changes or modifications to the building,
nor did he obtain the correct permits for such construction. In
late June, the Hanley family filed a notice in New York Supreme
Court, giving Mr. McGown until early July to file the appropriate
permits and remove the unapproved construction.

Mr. McGown refuted the charges, and requested the injunction, the
report said.

Judge Manuel Mendez of the Supreme Court of the state of New York
ruled against his request, the report further related.  Mr. McGown
had "essentially gutted the building, obstructed doorways
throughout the premises and exceeded the amount of legally
permissible bars," read the ruling. "No proof was provided of the
efforts being made to address or cure any alleged structural
defects."


QBEX ELECTRONICS: Creditors Panel Balks at Exclusivity Extension
----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of QBEX Electronics Corporation, Inc., et al., asks the
Bankruptcy Court to deny approval of the Debtors' third motion to
extend exclusivity.

The Committee relates that to date, the Debtors have not fully
complied with the agreed order extending exclusivity.  Pursuant to
the agreed order extending exclusivity, the Debtors were required
to do these:

   -- provide the Committee with a plan for the liquidation of the
      Debtors' noncore assets, which plan will be implemented
      forthwith upon approval of the Committee;

   -- respond to the Committee's Rule 2004 request for production
      of documents by June 30, 2013.

   -- list for sale all of its non-essential real estate in
      Columbia, including the country house, apartments and the
      two parcels in the residential planned community, and will
      file a motion to approve such listing agreements.

As reported in the Troubled Company Reporter on Aug. 9, 2013, the
Debtors filed a third motion seeking extension of exclusive plan
filing deadline through Sept. 27, and exclusive plan solicitation
deadline through Nov. 11.

The Debtors' current plan filing deadline is Aug. 30, 2013.

The Debtors informed the Court that since the entry of the Second
Exclusivity Order, they -- with the assistance of financial
advisors CBIZ MHM, LLC -- have worked diligently to liquidate
their non-core assets; identify and negotiate an exit financing
facility; develop financial projections and an associated business
plan for the Debtors; and formulate a consensual Chapter 11 plan
of reorganization.

However, as significant progress has been made, a fair amount of
work remains to be completed, the Debtors aver.

                    About QBEX Electronics

QBEX Electronics Corporation, Inc., based in Miami, Florida, and
its affiliates, Qbex Colombia, S.A., and Comercializadora De
Productos Tecnologicos CPT Colombia SAS, are manufacturers,
assemblers and distributors of personal computers, notebooks,
tablets and compatible accessories, marketed throughout Latin
America under the QBEX brand.

QBEX Electronics filed for Chapter 11 bankruptcy (Bankr. S.D. Fla.
Case No. 12-37551) on Nov. 15, 2012.  Judge Robert A. Mark
oversees the case.  Robert D. Peters, Esq., Robert A. Schatzman,
Esq., and Steven J. Solomon, Esq., at GrayRobinson, P.A., serve as
the Debtor's counsel.

QBEX scheduled assets of $11,027,058 and liabilities of
$8,246,385.  The petitions were signed by Jorge E. Alfonso,
president.

Qbex Colombia, S.A., also sought Chapter 11 protection (Bankr.
S.D. Fla. Case No. 12-37558) on Nov. 15, listing $433,627 in
assets and $5,792,217 in liabilities.

Glenn D. Moses, Esq., and Michael L. Schuster, Esq., at Genovese
Joblove & Battista, P.A., represent the Official Committee of
Unsecured Creditors.  The Committee tapped Marcum, LLP, as its
financial advisors.


RESIDENTIAL CAPITAL: Freddie Mac Challenges $600MM FGIC Settlement
------------------------------------------------------------------
Law360 reported that Freddie Mac asked a New York bankruptcy judge
to reject a settlement between Residential Capital LLC and
Financial Guaranty Insurance Co. that would slash the bond
insurer's claim from $5 billion to $596.5 million.

According to the report, the mortgage giant said the settlement
would terminate insurance policies guaranteeing the payment of
principal and interest on mortgage-backed securities it holds that
were issued or serviced by ResCap. Freddie Mac has also rebutted
the settlement's finding that FGIC trustees discharged their
fiduciary duties to FGIC beneficiaries, the report said.

                   About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its mortgage servicing and origination platform assets to Ocwen
Loan Servicing, LLC and Walter Investment Management Corporation
for $3 billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Bankruptcy Creditors' Service, Inc., publishes RESIDENTIAL CAPITAL
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by affiliates of Residential Capital LLC and its
affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


RESIDENTIAL CAPITAL: PNC Challenges $300MM Mortgage Settlement
--------------------------------------------------------------
Law360 reported that PNC Bank NA challenged a Residential Capital
LLC unit's bid for approval of a $300 million settlement that
would end a putative class action brought by mortgage loan
borrowers, arguing that the deal would unjustly harm the bank.

According to the report, the bank submitted a limited objection to
a New York bankruptcy court, arguing that Residential Funding Co.
LLC's proposed settlement included an unfair bar order that would
enjoin PNC's right to contribution and indemnity without the
bank's consent, a judgment reduction or other protections.

                   About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its mortgage servicing and origination platform assets to Ocwen
Loan Servicing, LLC and Walter Investment Management Corporation
for $3 billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Bankruptcy Creditors' Service, Inc., publishes RESIDENTIAL CAPITAL
BANKRUPTCY NEWS.  The newsletter tracks the Chapter 11 proceeding
undertaken by affiliates of Residential Capital LLC and its
affiliates (http://bankrupt.com/newsstand/or 215/945-7000).


REVLON CONSUMER: Moody's Confirms Ba3 CFR and Negative Outlook
--------------------------------------------------------------
Moody's Investors Service confirmed Revlon Consumer Products
Corporation's (Revlon) Ba3 Corporate Family Rating and Ba2 senior
secured term loan rating, concluding the review for downgrade
initiated on August 5, 2013 following the company's announced $660
million debt-funded acquisition of The Colomer Group.

Moody's also assigned a Ba2 rating to Revlon's proposed $700
million add-on senior secured term loan and downgraded the
company's senior unsecured notes due 2021 to B2 from B1. Moody's
confirmed Revlon's ratings based on an expectation that the TCG
acquisition will help the company maintain the improved operating
stability achieved over the last few years, and that Revlon will
continue to generate meaningful free cash flow. The confirmation
also reflects Moody's view that Revlon is committed to reducing
leverage meaningfully following the debt-funded TCG acquisition
such that debt-to-EBITDA leverage declines and is sustained below
5.0x. Moody's also affirmed Revlon's SGL-1 speculative-grade
liquidity rating.

The rating outlook is negative based on the challenges that
operational shortfalls, additional acquisitions or Revlon's
utilization of cash could present to de-leveraging. Moody's
updated the loss given default assessments based on the updated
debt mix.

Confirmations:

Issuer: Revlon Consumer Products Corporation

Corporate Family Rating, Ba3

Probability of Default Rating, Ba3-PD

Senior Secured Bank Credit Facility Nov 19, 2017, Confirmed at Ba2
(changed to LGD3 - 32% from LGD2 - 27%)

Assignments:

Issuer: Revlon Consumer Products Corporation

Senior Secured Bank Credit Facility due 2019 ($700 million add-
on), Assigned Ba2, LGD3 - 32%

Downgrades:

Issuer: Revlon Consumer Products Corporation

Senior Unsecured Regular Bond/Debenture due Feb 15, 2021,
Downgraded to B2, LGD5 - 85% from B1, LGD5 - 76%

Affirmations:

Issuer: Revlon Consumer Products Corporation

Speculative Grade Liquidity Rating, Affirmed SGL-1

Outlook Actions:

Issuer: Revlon Consumer Products Corporation

Outlook, Changed To Negative From Rating Under Review

Ratings Rationale:

Revlon's Ba3 CFR reflects the company's strong global cosmetic
brand franchises, good geographic and product diversification for
a number of well-known beauty brands, modest scale relative to
primary competitors, high leverage and event risks related to
ownership by M&F Worldwide. Operational improvements over the last
five years driven by better portfolio planning and cost
efficiencies are leading to positive and consistent cash flow
generation after years of weak performance. This is providing the
company more flexibility to re-invest through product development,
required display spending, increased product promotional support
and through acquisitions.

Revlon's high leverage and smaller scale relative to more
diversified and highly competitive global cosmetic suppliers
create vulnerability to changes in the economic environment,
shifts in consumer demand and the product, pricing and promotional
activities of competitors. Despite challenges related to sluggish
growth in the US and Europe (roughly 65%-70% of pro forma
revenue), Moody's anticipates Revlon's product development,
promotional actions and exposure to developing markets will
contribute to modest revenue and EBITDA growth. Continued weakness
of its Almay color cosmetics line will likely require additional
investment in brand development and promotion.

Acquiring TCG will meaningfully increase debt-to-EBITDA leverage
(estimated 6.3x LTM 6/30/13 incorporating Moody's standard
adjustments and pro forma for the transaction, prior to synergies)
but provide operating benefits including an increase in cash flow,
improved channel diversification through the addition of
professional salon clients, slightly better geographic diversity,
and cost synergies. Moody's expects Revlon will utilize cash and
free cash flow for debt reduction and EBITDA-accretive
acquisitions such that debt-to-EBITDA is reduced to a level below
5x within 12-24 months of the closing, which Revlon expects to
occur by the end of 2013.

Revlon's proposed $700 million incremental term loans will be
pari-passu with its existing $675 million senior secured term
loan. The downgrade of the senior unsecured notes to B2 from B1
reflects the incremental secured debt that has effective priority
relative to the unsecured notes.

Revlon's SGL-1 speculative-grade liquidity rating continues to
reflect its very good liquidity position prior to the acquisition.
Liquidity is supported by existing cash ($141 million as of
6/30/13), free cash flow that Moody's projects will exceed $100
million over the next 12 months, and an undrawn $140 million asset
based revolver expiring in June 2016. These cash sources provide
ample capacity to fund the 1% required annual term loan
amortization and $48.6 million October 2013 subordinated term loan
maturity. Moody's also expects Revlon to maintain an EBITDA
cushion exceeding 40% within the term loan's 4.0x maximum first
lien secured debt covenant prior to the TCG acquisition. The
liquidity rating could be lowered to SGL-2 upon completion of the
TCG acquisition and financing. Revlon is proposing to increase the
term loan leverage covenant to 4.25x but the incremental first
lien secured debt would nevertheless likely reduce the EBITDA
cushion within the covenant and modestly weaken the company's
liquidity position.

The negative rating outlook reflects the risk that operational
shortfalls, additional acquisitions or Revlon's utilization of
cash will not be sufficient to reduce and sustain debt-to-EBITDA
leverage below 5.0x. Moody's anticipates in the outlook continued
modest global economic growth and that Revlon will maintain its
market share, generate low single digit organic revenue and
earnings growth, and in excess of $100 million of free cash flow
in 2014. Moody's also expects Revlon will maintain a good
liquidity position with sufficient flexibility to reinvest in
product development and marketing support.

Revlon's ratings could be downgraded if the company's operating
performance deteriorates such that EBIT margins drop below 12%,
debt-to-EBITDA is sustained above 5.0x or EBIT-to-interest expense
drops below 2.0x. Any shift in the financial policy of Revlon or
of its majority-owner, M&F, towards debt-financed acquisitions and
share repurchases, could also result in a downgrade.

An upgrade is unlikely over the next 12-18 months given the
negative rating outlook and elevated leverage. Moody's could
change Revlon's rating outlook to stable if the company reduces
and maintains debt-to-EBITDA leverage below 5.0x, and sustains its
EBIT margin above 12% and EBIT-to-interest expense above 2.0x.
Revlon would also need to maintain a good liquidity position. An
upgrade could be considered if Revlon is able to maintain an above
average organic growth rate, improved market share for its core
Revlon and Almay brands, and generate meaningful free cash flow.
Revlon would need to sustain debt-to-EBITDA well below 4.0x and
EBIT-to-interest expense of at least 3.0x.

The principal methodology used in this rating was the Global
Packaged Goods published in June 2013. Other methodologies used
include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.

Revlon, headquartered in New York, NY, is a worldwide cosmetics,
skin care, fragrance, and personal care products company. The
company is a wholly-owned subsidiary of publicly-traded Revlon,
Inc., which is majority-owned by MacAndrews & Forbes (M&F). M&F is
wholly-owned by Ronald O. Perelman. Revlon's principal brands
include Revlon, Almay, Sinful Colors, Pure Ice, Charlie, Jean
Nate, Mitchum, Gatineau, and Ultima II. Revlon's net sales for the
12 months ended June 2013 were approximately $1.4 billion.


REVLON CONSUMER: S&P Affirms 'B+' Corp. Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Revlon Consumer Products Corp.  The
outlook is stable.

At the same time, S&P lowered its issue-level rating on the
company's senior secured bank facility due 2017 to 'B+' from 'BB-'
and revised the recovery rating to '3' from '2'.  The '3' recovery
rating indicates S&P's expectation of meaningful (50% to 70%)
recovery in the event of a payment default.  It also reflects the
$700 million additional term debt on the company's existing bank
term loan facility, which decreases the recovery prospects for the
senior secured bank lenders given the higher debt balance.  S&P
assigned a 'B+' rating to the $700 million incremental term debt,
with a '3' recovery rating, indicating its expectation of
meaningful (50% to 70%) recovery in the event of a payment
default.

Additionally, S&P affirmed its 'B' issue-level rating on the
company's senior unsecured debt due 2021.  The recovery rating is
'5', indicating S&P's expectation for modest (10% to 30%) recovery
in the event of a payment default.  The ratings are subject to
change and assume the transaction closes on substantially the same
terms presented to S&P.  Total debt outstanding pro forma for the
proposed transaction is about $1.9 billion.

"The ratings on Revlon reflect our view that the company's
financial risk profile remains aggressive," said Standard & Poor's
credit analyst Jacqueline Hui.  "Though the debt-financed
transaction weakens Revlon's credit measures on a pro forma basis,
S&P believes the company will deleverage to below 5x over the next
12 to 18 months," she added.

S&P also continues to assess the company's business risk profile
as "weak", given its participation in the highly competitive
global cosmetics industry and concentration in the mass channel.

The outlook is stable, reflecting S&P's expectation of steady
operating performance, a smooth integration of TCG, and debt
reduction, such that adjusted leverage decreases to below 5x over
the next 12 to 18 months.

S&P could consider a lower rating if adjusted leverage remains
elevated and approaches 6x, perhaps if the company's operating
performance deteriorates from weakening macroeconomic conditions
and heightened competition, or if the company has difficulties
integrating the TCG acquisition, and is unable to reduce debt as
planned.  S&P estimates pro forma EBITDA would have to decrease by
about 5% for leverage to approach 6x, assuming pro forma debt
stays constant at current levels.

Although unlikely, S&P could consider raising the ratings if the
company's financial policy becomes more conservative, if TCG is
integrated without unexpected setbacks, and if operating
performance remains near current levels, leading to credit metrics
improving, such that leverage is sustained below 4x and covenant
cushion remains at or above 15%.  Pro forma debt would have to
decrease about 30% to about $1.6 billion for leverage to reach
below 4x, assuming no change from current EBITDA levels.  S&P also
considers the presence of a majority shareholder with controlling
interest as a constraining factor to the rating.


REVOLUTION DAIRY: Aug. 22 Hearing on Adequacy of Plan Outline
-------------------------------------------------------------
The Bankruptcy Court will convene a hearing on Aug. 22, 2013, at
10 a.m. to consider the adequacy of information in the Disclosure
Statement explaining Revolution Dairy LLC, et al.'s Amended Joint
Chapter 11 Plan dated July 2, 2013.

According to the Disclosure Statement, the Plan proposes that each
of the Debtors transfer their dairy-and-farming-related assets to
Bliss LLC (a new limited liability company) which will, in turn,
assume the Debtors' secured and unsecured liabilities under the
Plan.  For Revolution and Highline (which only have dairy-and-
farming-related assets and debts), the transfer of assets and
assumption of liabilities is all-encompassing.  Concerning Bliss,
all assets will be transferred to Bliss LLC save the Bliss
Personal Assets (identified in Schedule 9 of the Plan).

Bliss LLC will, in turn, assume all Bliss Dairy Debts (i.e., all
of Bliss' obligations save the Bliss Residence Mortgage).  Bliss
will additionally contribute over $22,000 in non-exempt cash on
the Effective Date to Bliss LLC and will pay Bliss LLC $50,000
(under a note) representing the liquidation value of the Bliss
Personal Assets that Bliss will retain.

Bliss LLC will continue the dairy operations of the Debtors and
will maintain three milk production units that correspond with the
pre-confirmation dairy operations of the Debtors (i.e., the
Revolution Unit, the Highline Unit, and the Bliss Unit).

Bliss LLC will also continue Highline's farming operations which
include leasing farmland and entering into annual harvesting and
purchasing agreements with local forage producers.

Except for obligation owed under the Bliss Residence Mortgage, all
payments to holders of Allowed Claims (Secured and Unsecured) will
be paid by Bliss LLC.  The Bliss Residence Mortgage will be paid
by Bliss from post-Confirmation income.

A copy of the Disclosure Statement is available for free at:

   http://bankrupt.com/misc/REVOLUTION_DAIRY_amendedds.pdf

                       About Revolution Dairy

Revolution Dairy LLC is one of the largest dairy farms in Utah.
Revolution Dairy and affiliate Highline Dairy, LLC, filed bare-
bones Chapter 11 petitions (Bankr. D. Utah Case Nos. 13-20770 and
13-20771) in Salt Lake City on Jan. 27, 2013.  Each of the Debtors
estimated $10 million to $50 million in assets and liabilities.

Managers of Revolution and Highline -- Robert and Judith Bliss --
also sought Chapter 11 protection (Case No. 13-20772).

Revolution Dairy, LLC, is represented by Michael N. Zundel, Esq.,
at Prince, Yeates & Geldzahler.  Highline Dairy is represented by
George B. Hoffmann, Esq., at Parsons Kinghorn Harris.  Robert and
Judith Bliss are represented by Berry & Tripp.

The U.S. Trustee appointed five members to the official committee
of unsecured creditors.  The Committee tapped David E. Leta, Esq.,
at Snell and Wilmer L.L.P. as its counsel and Berkeley Research
Group, LLC as its financial advisor.


REVOLUTION DAIRY: Berkeley Research Okayed as Panel Fin'l Advisor
-----------------------------------------------------------------
The U.S. Bankruptcy Court authorized the Official Committee of
Unsecured Creditors in the Chapter 11 cases of Revolution Dairy
LLC, et al., to retain Berkeley Research Group LLC as its
financial advisor.

As reported in the Troubled Company Reporter on June 3, 2013, the
firm will, among other things, provide these services:

   a. performing an analysis and evaluation of any disclosure
      statement and plan proposed Cases;

   b. reviewing and analyzing monthly operating reports prepared
      by the Debtors; and

   c. performing an independent analysis of the financial
      situation of the Debtors.

Marvin A. Tenenbaum -- mtenenbaum@brg-expert.com -- attests that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.

                       About Revolution Dairy

Revolution Dairy LLC is one of the largest dairy farms in Utah.
Revolution Dairy and affiliate Highline Dairy, LLC, filed bare-
bones Chapter 11 petitions (Bankr. D. Utah Case Nos. 13-20770 and
13-20771) in Salt Lake City on Jan. 27, 2013.  Each of the Debtors
estimated $10 million to $50 million in assets and liabilities.

Managers of Revolution and Highline -- Robert and Judith Bliss --
also sought Chapter 11 protection (Case No. 13-20772).

Revolution Dairy, LLC, is represented by Michael N. Zundel, Esq.,
at Prince, Yeates & Geldzahler.  Highline Dairy is represented by
George B. Hoffmann, Esq., at Parsons Kinghorn Harris.  Robert and
Judith Bliss are represented by Berry & Tripp.

The U.S. Trustee appointed five members to the official committee
of unsecured creditors.  The Committee tapped to retain David E.
Leta, Esq., at Snell and Wilmer L.L.P. as its counsel and Berkeley
Research Group, LLC as its financial advisor.


REVOLUTION DAIRY: Court OKs Modification to TCF Lease Agreement
---------------------------------------------------------------
The Hon. R. Kimball Mosier of the U.S. Bankruptcy Court for the
District of Utah approved the modification and assumption of lease
and loan agreements between Debtor Highline Dairy, LLC, and TCF
Equipment Finance, Inc.

The Debtor and TCF, in a stipulated motion, sought approval of
certain modifications to various prepetition lease and loan
agreements through which Highline financed certain equipment used
by Highline in its business operations.  Highline also sought
assumption of the agreements, as modified.

The Court, in its order, said that the monthly payments from
Highline to TCF provided for in the stipulated motion are deemed
to be adequate protection of TCF's interest in the equipment and
are deemed to satisfy Highline's postpetition payment obligations.
In the event Highline fails to make timely monthly payments to
TCF, TCF will give Highline's attorney of record written notice of
the default and if Highline fails to cure the default within 10
days after the date of receipt of the notice, TCF may file an
affidavit of default and the automatic stay will thereupon be
deemed lifted without further notice or other order of the Court.

In a separate order, the Court authorized the modification and
assumption of the agreement between Debtors Highline and Robert &
Judith Bliss, dba Bliss Dairy and Summit Leasing, Inc.  The
parties sought approval of certain modifications to the
prepetition lease agreement through which the Debtors financed
certain equipment used by the Debtors in their business
operations.

The monthly payments from the Debtors to Summit are deemed to be
adequate protection of Summit's interest in the equipment and are
deemed to satisfy the Debtors' postpetition payment obligations.

                       About Revolution Dairy

Revolution Dairy LLC is one of the largest dairy farms in Utah.
Revolution Dairy and affiliate Highline Dairy, LLC, filed bare-
bones Chapter 11 petitions (Bankr. D. Utah Case Nos. 13-20770 and
13-20771) in Salt Lake City on Jan. 27, 2013.  Each of the Debtors
estimated $10 million to $50 million in assets and liabilities.

Managers of Revolution and Highline -- Robert and Judith Bliss --
also sought Chapter 11 protection (Case No. 13-20772).

Revolution Dairy, LLC, is represented by Michael N. Zundel, Esq.,
at Prince, Yeates & Geldzahler.  Highline Dairy is represented by
George B. Hoffmann, Esq., at Parsons Kinghorn Harris.  Robert and
Judith Bliss are represented by Berry & Tripp.

The U.S. Trustee appointed five members to the official committee
of unsecured creditors.  The Committee tapped to retain David E.
Leta, Esq., at Snell and Wilmer L.L.P. as its counsel and Berkeley
Research Group, LLC as its financial advisor.


REVOLUTION DAIRY: Dr. Corbett Okayed as Management Advisor
----------------------------------------------------------
The Hon. R. Kimball Mosier of the U.S. Bankruptcy Court for the
District of Utah authorized Revolution Dairy, LLC et al., to
employ Dr. Robert Corbett as management advisor/veterinary
science.

The Debtors required Dr. Corbett's expertise to assist in a
holistic review of the dairies' operations and nutrition program,
including advising on cow care, reproduction management, heifer
transition management, production peaks, and feeding and nutrition
acclimation, among other things.

Dr. Corbett has provided similar services to at least four other
substantial dairy operations in Utah, and regularly advises
dairies both nationally and internationally, including evaluating
the viability of dairies in financial distress.

The Debtors agreed to compensate Dr. Corbett for his work on
behalf of the Debtors.  DR. Corbett's customary rates are
$1500/day, or $200/hour for periods less than a full day, with
mileage at the rate of $.75/mile, which will be paid
proportionately by the Debtors on a per-cow basis.

To the best of the Debtors' knowledge, Dr. Corbett does not
represent or hold any interest adverse to the Debtor or the
estate.

                       About Revolution Dairy

Revolution Dairy LLC is one of the largest dairy farms in Utah.
Revolution Dairy and affiliate Highline Dairy, LLC, filed bare-
bones Chapter 11 petitions (Bankr. D. Utah Case Nos. 13-20770 and
13-20771) in Salt Lake City on Jan. 27, 2013.  Each of the Debtors
estimated $10 million to $50 million in assets and liabilities.

Managers of Revolution and Highline -- Robert and Judith Bliss --
also sought Chapter 11 protection (Case No. 13-20772).

Revolution Dairy, LLC, is represented by Michael N. Zundel, Esq.,
at Prince, Yeates & Geldzahler.  Highline Dairy is represented by
George B. Hoffmann, Esq., at Parsons Kinghorn Harris.  Robert and
Judith Bliss are represented by Berry & Tripp.

The U.S. Trustee appointed five members to the official committee
of unsecured creditors.  The Committee tapped to retain David E.
Leta, Esq., at Snell and Wilmer L.L.P. as its counsel and Berkeley
Research Group, LLC as its financial advisor.


REVOLUTION DAIRY: Farm Credit's Stay Relief Bid Settled
-------------------------------------------------------
The U.S. Bankruptcy Court approved a stipulation resolving Farm
Credit Leasing's motion for relief from stay and for an order
approving modification and assumption of its lease agreements in
the Chapter 11 case of Debtor Highline Dairy, LLC.

The stipulation provides for, among other things:

   1. in the event of any conflict between the stipulated motion
      and any provisions of a confirmed plan of reorganization in
      the case regarding the treatment of FCL and its claims, the
      terms and conditions of the stipulated motion will prevail;

   2. the monthly payments from Highline to FCL are deemed to be
      adequate protection of FCL's interest in the equipment and
      are deemed to satisfy Highline's postpetition payment
      obligations; and

   3. in the event Highline fails to make timely monthly payments
      to FCL, FCL will give Highline's attorney written notice of
      the default.  If Highline fails to cure the default within
      10 days of the date of such notice, FCL may file an
      affidavit of default and the automatic stay will thereupon
      be deemed lifted without further notice or other order of
      the Court.

                       About Revolution Dairy

Revolution Dairy LLC is one of the largest dairy farms in Utah.
Revolution Dairy and affiliate Highline Dairy, LLC, filed bare-
bones Chapter 11 petitions (Bankr. D. Utah Case Nos. 13-20770 and
13-20771) in Salt Lake City on Jan. 27, 2013.  Each of the Debtors
estimated $10 million to $50 million in assets and liabilities.

Managers of Revolution and Highline -- Robert and Judith Bliss --
also sought Chapter 11 protection (Case No. 13-20772).

Revolution Dairy, LLC, is represented by Michael N. Zundel, Esq.,
at Prince, Yeates & Geldzahler.  Highline Dairy is represented by
George B. Hoffmann, Esq., at Parsons Kinghorn Harris.  Robert and
Judith Bliss are represented by Berry & Tripp.

The U.S. Trustee appointed five members to the official committee
of unsecured creditors.  The Committee tapped to retain David E.
Leta, Esq., at Snell and Wilmer L.L.P. as its counsel and Berkeley
Research Group, LLC as its financial advisor.


RIO VISTA: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: Rio Vista Properties 690 LLC
        690 Kinderkamack Road
        Oradell, NJ 07649

Bankruptcy Case No.: 13-27809

Chapter 11 Petition Date: August 14, 2013

Court: U.S. Bankruptcy Court
       District of New Jersey (Newark)

Judge: Morris Stern

Debtor's Counsel: Philip Guarino, Esq.
                  MAVROUDIS RIZZO & GUARINO, LLC
                  690 Kinderkamack Road, Suite 300
                  Oradell, NJ 07649
                  Tel: (201) 262 3001
                  E-mail: guarinolaw@gmail.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

The Company did not file a list of creditors together with its
petition.

The petition was signed by John M. Mavroudis, managing member.


ROTECH HEALTHCARE: Baker & McKenzie, Bifferato Released From Ch.11
------------------------------------------------------------------
Law360 reported that a Delaware bankruptcy judge allowed Baker &
McKenzie LLP and Bifferato LLC to withdraw as counsel for the
equity committee in the Rotech Healthcare Inc. bankruptcy case
over the "strong" objections of committee members who want to push
forward and challenge confirmation of the Chapter 11 plan.

According to the report, John Mitchell of Baker & McKenzie argued
during a hearing in Wilmington that good cause exists to allow
both firms to stop representing the committee, which has been
trying to prove that Rotech is solvent enough for equity security
holders.

                      About Rotech Healthcare

Based in Orlando, Florida, Rotech Healthcare Inc. (NASDAQ: ROHI)
-- http://www.rotech.com/-- provides home medical equipment and
related products and services in the United States, with a
comprehensive offering of respiratory therapy and durable home
medical equipment and related services.  The company provides
equipment and services in 48 states through approximately 500
operating centers located primarily in non-urban markets.

The Company reported a net loss of $14.76 million in 2011, a net
loss of $4.20 million in 2010, and a net loss of $21.08 million
in 2009.

The Company's balance sheet at Sept. 30, 2012, showed
$255.76 million in total assets, $601.98 million in total
liabilities, and a $346.22 million total stockholders' deficiency.

On April 8, 2013, Rotech Healthcare and 114 subsidiary companies
filed petitions seeking relief under chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 13-10741) to implement a pre-
arranged plan negotiated with secured lenders.

Attorneys at Proskauer Rose LLP, and Young, Conaway, Stargatt &
Taylor serve as counsel to the Debtors; Foley & Lardner LLP is the
healthcare regulatory counsel; Akin Gump Strauss Hauer & Feld LLP
is the special healthcare regulatory counsel; Barclays Capital
Inc. is the financial advisor; Alix Partners, LLP is the
restructuring advisor; and Epiq Bankruptcy Solutions LLC is the
claims agent.

Prepetition term loan lender and DIP lender Silver Point Capital
and other consenting noteholders are represented by Wachtell,
Lipton, Rosen & Katz, and Richards Layton & Finger PA.

The U.S. Trustee at the end of April appointed an official
committee of equity holders.  Members include Alden Global
Recovery Master Fund LP, Varana Capital Master LP, Wynnefield
Partners Small Cap Value LP I, Bastogne Capital Partners, LP, and
Kenneth S. Grossman P.C. Pension Plan.

The plan is supported by holders of a majority of the first- and
second-lien secured notes.  The $290 million in 10.5 percent
second-lien notes are to be exchanged for the new equity.  Trade
suppliers are to be paid in full, if they agree to continue
providing credit.  The existing $23.5 million term loan would be
paid in full, and the $230 million in 10.75 percent first-lien
notes will be amended.

The Official Committee of Unsecured Creditors tapped Otterbourg,
Steindler, Houston & Rosen, P.C., as counsel; Buchanan Ingersoll &
Rooney PC as Delaware counsel; and Grant Thornton LLP as financial
advisor.


ROTECH HEALTHCARE: Taps Cole Schotz as Counsel for BOD Committee
----------------------------------------------------------------
Rotech Healthcare Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Cole,
Schotz, Meisel, Forman & Leonard, P.A., as special co-counsel to
the Special Committee of the Board of Directors.

The Debtors are currently pursuing a Chapter 11 plan that
contemplates a debt for equity swap.  A number of the Debtors'
directors, however, are holders of both the Debtors' debt and
equity.  As a result, the Special Committee of independent
directors who hold neither Rotech debt nor equity was formed to
analyze and negotiate the potential transaction.  The Special
Committee seeks to utilize the services of Cole Schotz to enable
the Special Committee to faithfully execute its duties to the
Company and its stakeholders.  Cole Schotz will be employed to
render legal services as may be requested by the Special Committee
and able to be performed by Cole Schotz.  The principal focus of
the proposed engagement is on the duties of the Special Committee
in connection with the restructuring of the Debtors, and does not
include advice with respect to tax, labor or regulatory matters.

The current hourly rates of Cole Schotz members, associates and
paralegals are as follows:

   Members and Special Counsel          $350 to $785
   Associates                           $210 to $400
   Paralegals                           $165 to $245

The firm will also be reimbursed for any necessary out-of-pocket
expenses.

Norman L. Pernick, Esq. -- npernick@coleschotz.com -- a member in
the law firm of Cole, Schotz, Meisel, Forman & Leonard, P.A., in
Wilmington, Delaware, assures the Court that his firm is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not represent any interest adverse
to the Debtors and their estates.

A hearing to consider approval of the employment application will
be held on Sept. 19, 2013 at 11:00 a.m. (ET).  Objections are due
Aug. 23.

                      About Rotech Healthcare

Based in Orlando, Florida, Rotech Healthcare Inc. (NASDAQ: ROHI)
-- http://www.rotech.com/-- provides home medical equipment and
related products and services in the United States, with a
comprehensive offering of respiratory therapy and durable home
medical equipment and related services.  The company provides
equipment and services in 48 states through approximately 500
operating centers located primarily in non-urban markets.

The Company reported a net loss of $14.76 million in 2011, a net
loss of $4.20 million in 2010, and a net loss of $21.08 million
in 2009.

The Company's balance sheet at Sept. 30, 2012, showed
$255.76 million in total assets, $601.98 million in total
liabilities, and a $346.22 million total stockholders' deficiency.

On April 8, 2013, Rotech Healthcare and 114 subsidiary companies
filed petitions seeking relief under chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 13-10741) to implement a pre-
arranged plan negotiated with secured lenders.

Attorneys at Proskauer Rose LLP, and Young, Conaway, Stargatt &
Taylor serve as counsel to the Debtors; Foley & Lardner LLP is the
healthcare regulatory counsel; Akin Gump Strauss Hauer & Feld LLP
is the special healthcare regulatory counsel; Barclays Capital
Inc. is the financial advisor; Alix Partners, LLP is the
restructuring advisor; and Epiq Bankruptcy Solutions LLC is the
claims agent.

Prepetition term loan lender and DIP lender Silver Point Capital
and other consenting noteholders are represented by Wachtell,
Lipton, Rosen & Katz, and Richards Layton & Finger PA.

The U.S. Trustee at the end of April appointed an official
committee of equity holders.  Members include Alden Global
Recovery Master Fund LP, Varana Capital Master LP, Wynnefield
Partners Small Cap Value LP I, Bastogne Capital Partners, LP, and
Kenneth S. Grossman P.C. Pension Plan.

The plan is supported by holders of a majority of the first- and
second-lien secured notes.  The $290 million in 10.5 percent
second-lien notes are to be exchanged for the new equity.  Trade
suppliers are to be paid in full, if they agree to continue
providing credit.  The existing $23.5 million term loan would be
paid in full, and the $230 million in 10.75 percent first-lien
notes will be amended.

The Official Committee of Unsecured Creditors tapped Otterbourg,
Steindler, Houston & Rosen, P.C., as counsel; Buchanan Ingersoll &
Rooney PC as Delaware counsel; and Grant Thornton LLP as financial
advisor.


ROTECH HEALTHCARE: 2 Firms Seek to Withdraw as Equity Panel Atty.
-----------------------------------------------------------------
Baker & McKenzie, LLP, and Bifferato LLC, filed a motion seeking
permission from the U.S. Bankruptcy Court for the District of
Delaware to withdraw as counsel of the Official Committee of
Equity Security Holders appointed in the Chapter 11 cases of
Rotech Healthcare, Inc., and its debtor affiliates.

The firms cite Rules 1.16(b)(4) and (7) of the Delaware Lawyers'
Rules of Professional Conduct as grounds for their withdrawal as
counsel of the Equity Committee.

The Baker attorneys are Carmen H. Lonstein, Esq. --
carmen.lonstein@bakermckenzie.com -- at Baker & McKenzie LLP, in
Chicago, Illinois, and John E. Mitchell, Esq. --
john.mitchell@bakermckenzie.com -- at Baker & McKenzie LLP, in
Dallas, Texas.

The Bifferato attorneys are Ian Connor Bifferato, Esq., and Thomas
F. Driscoll III, Esq., at Bifferato LLC, in Wilmington, Delaware.

                      About Rotech Healthcare

Based in Orlando, Florida, Rotech Healthcare Inc. (NASDAQ: ROHI)
-- http://www.rotech.com/-- provides home medical equipment and
related products and services in the United States, with a
comprehensive offering of respiratory therapy and durable home
medical equipment and related services.  The company provides
equipment and services in 48 states through approximately 500
operating centers located primarily in non-urban markets.

The Company reported a net loss of $14.76 million in 2011, a net
loss of $4.20 million in 2010, and a net loss of $21.08 million
in 2009.

The Company's balance sheet at Sept. 30, 2012, showed
$255.76 million in total assets, $601.98 million in total
liabilities, and a $346.22 million total stockholders' deficiency.

On April 8, 2013, Rotech Healthcare and 114 subsidiary companies
filed petitions seeking relief under chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 13-10741) to implement a pre-
arranged plan negotiated with secured lenders.

Attorneys at Proskauer Rose LLP, and Young, Conaway, Stargatt &
Taylor serve as counsel to the Debtors; Foley & Lardner LLP is the
healthcare regulatory counsel; Akin Gump Strauss Hauer & Feld LLP
is the special healthcare regulatory counsel; Barclays Capital
Inc. is the financial advisor; Alix Partners, LLP is the
restructuring advisor; and Epiq Bankruptcy Solutions LLC is the
claims agent.

Prepetition term loan lender and DIP lender Silver Point Capital
and other consenting noteholders are represented by Wachtell,
Lipton, Rosen & Katz, and Richards Layton & Finger PA.

The U.S. Trustee at the end of April appointed an official
committee of equity holders.  Members include Alden Global
Recovery Master Fund LP, Varana Capital Master LP, Wynnefield
Partners Small Cap Value LP I, Bastogne Capital Partners, LP, and
Kenneth S. Grossman P.C. Pension Plan.

The plan is supported by holders of a majority of the first- and
second-lien secured notes.  The $290 million in 10.5 percent
second-lien notes are to be exchanged for the new equity.  Trade
suppliers are to be paid in full, if they agree to continue
providing credit.  The existing $23.5 million term loan would be
paid in full, and the $230 million in 10.75 percent first-lien
notes will be amended.

The Official Committee of Unsecured Creditors tapped Otterbourg,
Steindler, Houston & Rosen, P.C., as counsel; Buchanan Ingersoll &
Rooney PC as Delaware counsel; and Grant Thornton LLP as financial
advisor.


ROTECH HEALTHCARE: Seeks Pretrial Decision to Thwart Shareholders
-----------------------------------------------------------------
Peg Brickley, writing for DBR Small Cap, reported that Rotech
Healthcare Inc. says evidence stacking up for a fight over what
the company is worth prove it is insolvent, so the court contest
on the question should be over before it starts.

Law360 reported that Rotech asked for a summary judgment that the
case's equity committee be dissolved, arguing that the committee's
recent valuation report on the company's solvency make it a "legal
impossibility" for the court to find it solvent.

The results of the report ordered by the equity committee, and
performed by Berenson & Co. LLC, indicate that Rotech's value is
somewhere between $509 million and $801 million against $647.5
million in liabilities, according to Rotech's filing in the U.S.
Bankruptcy Court, the report related.

                      About Rotech Healthcare

Based in Orlando, Florida, Rotech Healthcare Inc. (NASDAQ: ROHI)
-- http://www.rotech.com/-- provides home medical equipment and
related products and services in the United States, with a
comprehensive offering of respiratory therapy and durable home
medical equipment and related services.  The company provides
equipment and services in 48 states through approximately 500
operating centers located primarily in non-urban markets.

The Company reported a net loss of $14.76 million in 2011, a net
loss of $4.20 million in 2010, and a net loss of $21.08 million
in 2009.

The Company's balance sheet at Sept. 30, 2012, showed
$255.76 million in total assets, $601.98 million in total
liabilities, and a $346.22 million total stockholders' deficiency.

On April 8, 2013, Rotech Healthcare and 114 subsidiary companies
filed petitions seeking relief under chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Lead Case No. 13-10741) to implement a pre-
arranged plan negotiated with secured lenders.

Attorneys at Proskauer Rose LLP, and Young, Conaway, Stargatt &
Taylor serve as counsel to the Debtors; Foley & Lardner LLP is the
healthcare regulatory counsel; Akin Gump Strauss Hauer & Feld LLP
is the special healthcare regulatory counsel; Barclays Capital
Inc. is the financial advisor; Alix Partners, LLP is the
restructuring advisor; and Epiq Bankruptcy Solutions LLC is the
claims agent.

Prepetition term loan lender and DIP lender Silver Point Capital
and other consenting noteholders are represented by Wachtell,
Lipton, Rosen & Katz, and Richards Layton & Finger PA.

The U.S. Trustee at the end of April appointed an official
committee of equity holders.  Members include Alden Global
Recovery Master Fund LP, Varana Capital Master LP, Wynnefield
Partners Small Cap Value LP I, Bastogne Capital Partners, LP, and
Kenneth S. Grossman P.C. Pension Plan.

The plan is supported by holders of a majority of the first- and
second-lien secured notes.  The $290 million in 10.5 percent
second-lien notes are to be exchanged for the new equity.  Trade
suppliers are to be paid in full, if they agree to continue
providing credit.  The existing $23.5 million term loan would be
paid in full, and the $230 million in 10.75 percent first-lien
notes will be amended.

The Official Committee of Unsecured Creditors tapped Otterbourg,
Steindler, Houston & Rosen, P.C., as counsel; Buchanan Ingersoll &
Rooney PC as Delaware counsel; and Grant Thornton LLP as financial
advisor.


RURAL/METRO CORP: DRC Retained as Noticing Agent in Ch. 11 Cases
----------------------------------------------------------------
Donlin, Recano & Company, Inc. on Aug. 15 disclosed that it has
been retained to provide claims and noticing agent services in the
Rural/Metro Corporation Chapter 11 cases.

Rural/Metro Corporation, based in Scottsdale, Arizona and owned by
Warburg Pincus, filed Chapter 11 petitions in the United States
Bankruptcy Court for the District of Delaware on August 4, 2013.
The nationwide ambulance and emergency services company listed
assets from $500 million to $1 billion making it one of the
largest Chapter 11 cases of 2013.

Willkie Farr & Gallagher LLP is counsel for the debtor and Young
Conaway Stargatt & Taylor, LLP is local counsel in Wilmington,
Delaware.  The company's financial advisor is Alvarez & Marsal
Healthcare Industry Group, LLC.

                        About Donlin Recano

Donlin Recano -- http://www.donlinrecano.com-- is a division of
DF King Worldwide -- http://www.king-worldwide.com-- and a
provider of claims, noticing, balloting and technology solutions,
also provides bondholder identification services, pre-pack
bankruptcy solicitation and balloting, crisis communications,
financial printing services and call center services through one
of the largest and most technologically advanced call centers in
the country.  King Worldwide is a financial communications, proxy
solicitation and stakeholder management company, serving over
1,000 public company, mutual fund family and private equity firm
clients domiciled in North America, Europe and Asia.

                   About Rural/Metro Corporation

Headquartered in Scottsdale, Arizona, Rural/Metro Corporation --
http://www.ruralmetro.com-- is a national provider of 911-
emergency and non-emergency interfacility ambulance services and
private fire protection services, operating in 21 states and
nearly 700 communities.

Rural/Metro Corp. and 59 affiliates sought Chapter 11 protection
on Aug. 4, 2013, before the U.S. Bankruptcy Court for the District
of Delaware.

The Debtors' lead bankruptcy counsel are Matthew A. Feldman, Esq.,
Rachel C. Strickland, Esq., and Daniel Forman, Esq., at Willkie
Farr & Gallagher LLP, in New York.  Maris J. Kandestin, Esq., and
Edmon L. Morton, Esq., at Young, Conaway, Stargatt & Taylor, LLP,
in Wilmington, Delaware, serve as the Debtors' local Delaware
counsel.

Alvarez & Marsal Healthcare Industry Group, LLC, and FTI
Consulting, Inc., are the Debtors' financial advisors, while
Lazard Freres & Co. L.L.C. is their investment banker.  Donlin,
Recano & Company, Inc., is the Debtors' claims and noticing agent.


SCIENTIFIC LEARNING: Incurs $54,000 Net Loss in 2nd Quarter
-----------------------------------------------------------
Scientific Learning Corporation reported a net loss of $54,000 on
$5.33 million of total revenues for the three months ended
June 30, 2013, as compared with a net loss of $3.14 million on
$7.14 million of total revenues for the same period a year ago.

For the six months ended June 30, 2013, the Company reported a net
loss of $1.05 million on $10.80 million of total revenues, as
compared with a net loss of $8.17 million on $14.23 million of
total revenues for the same period during the prior year.

The Company's balance sheet at June 30, 2013, showed $11.90
million in total assets, $17.74 million in total liabilities and a
$5.83 million in net capital deficiency.

"While we are not pleased with the second quarter results which
were significantly impacted by sequestration, we are encouraged by
the strong start to the third quarter with July being our best
month and our first year over year increase in booked sales this
year," stated Robert Bowen, CEO.  "With sales starting to move in
the right direction, margins improving, and costs at a desired
level, we are well poised to leverage upside."

A copy of the press release is available for free at:

                         http://is.gd/lpeupH

                   About Scientific Learning Corp

Scientific Learning is an education company.  The Company
accelerates learning by applying proven research on how the brain
learns in online and on-premise software solutions.  The Company
provides its learning solutions primarily to United States K-12
schools in traditional brick-and-mortar, virtual or blended
learning settings and also to parents and learning centers, in
more than 40 countries around the world.  The Company's sales are
concentrated in K-12 schools in the U.S., which in during the year
ended December 31, 2011 were estimated to total over 116,000
schools serving approximately 55 million students in almost 14,000
school districts. During the year ended Dec. 31, 2011, the K-12
sector accounted for 87 percent of the sales of the Company.

The Company reported a net loss of $9.65 million in 2012, as
compared with a net loss of $6.47 million in 2011.

In its report on the Company's consolidated financial statements
for the year ended Dec. 31, 2012, Ernst & Young, LLP, in San Jose,
Cal., expressed substantial doubt Scienfic Learning's ability to
continue as a going concern, citing the Company's recurring losses
from operations, deficiency in working capital and its need to
raise additional capital.


SCOOTER STORE: Seeking Continued Use of Cash Collateral
-------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware was slated
to convene a hearing Monday, Aug. 19, 2013, at 1:30 p.m., to
consider The Scooter Store Holdings, Inc., et al.'s request for
continued use of cash collateral.

The Debtors relate that on July 29, the Court approved a
stipulation among the Debtors, Crystal Financial, LLC, as DIP
Agent and the DIP lenders, terminating the DIP credit agreement
and authorizing the use of cash collateral.

On July 31, the Court granted interim authorization to use the
cash collateral.  As adequate protection from any diminution in
value of the lenders' collateral, the Debtors will grant
respective interest in the prepetition collateral of he
prepetition second lien secured parties and prepetition third lien
secured parties, superpriority administrative expense claim
status, subject to carve out on certain expenses.

Additionally, the Debtors will grant adequate protection payments
not to exceed $25,000 before entry of the final order.  The
Debtors also will grant the lenders the right to credit bid their
claims.

                      About The Scooter Store

The Scooter Store is a supplier of power mobility solutions,
including power wheelchairs, scooters, lifts, ramps, and
accessories.  The Scooter Store's products and services provide
today's seniors and disabled persons potential alternatives to
living in nursing homes or other care facilities.  Headquartered
in New Braunfels, Texas, the Scooter Store has a nationwide
network of distribution centers that service products owned or
leased by the Company's customers.  It has 57 distribution
centers in 41 states.

Scooter Store Holdings Inc., and 71 affiliates filed for Chapter
11 bankruptcy (Bankr. D. Del. Lead Case No. 13-10904) in
Wilmington.  Andrew L. Magaziner, Esq., at Young Conaway Stargatt
& Taylor, LLP and Neil E. Herman, Esq. at Morgan Lewis & Bockius
LLP represent the Debtors in their restructuring efforts.  The
closely held company listed assets of less than $10 million and
debt of more than $50 million.  The Scooter Store - St. Louis,
L.L.C., disclosed $13,353,846 in assets and $83,957,99 in
liabilities as of the Chapter 11 filing.

Affiliates of private equity firm Sun Capital Partners, based in
Boca Raton, Florida, purchased a majority voting interest in the
debtors in 2011.  Scooter Store is 66.8 percent owned by Sun
Capital Partners Inc., owed $40 million on a third lien.  In
addition to Sun's debt and $25 million on a second lien owing to
Crystal Financial LLC, there is a $25 million first-lien revolving
credit owing to CIT Healthcare LLC as agent.  Crystal is providing
$10 million in financing for bankruptcy.

The Official Committee of Unsecured Creditors is represented by
Cooley LLP as lead counsel, and Cousins Chipman & Brown, LLP as
Delaware counsel.  CBIZ Acounting, Tax and Advisory of New York,
LLC, CBIZ Valuation Group, LLC and CBIZ Mergers & Acquisition
Group Inc. serve as financial advisors.


SEMGROUP LP: Former Investors Fight Ex-CEO's Fast-Track Appeal
--------------------------------------------------------------
Law360 reported that former limited partners of SemGroup LP
blasted ex-CEO Thomas L. Kivisto's bid to appeal a Delaware
bankruptcy judge's order straight to the Third Circuit, calling it
an attempt to sidestep a previous ruling by the district court.

According to the report, the order, signed last month by U.S.
Bankruptcy Judge Brendan L. Shannon, lets the limited partners
proceed in part with an Oklahoma suit against Kivisto, allowing
fraud and negligent misrepresentation claims to go forward but
barring a claim for breach of fiduciary duty.

                       About SemGroup, L.P.

SemGroup, L.P. -- http://www.semgrouplp.com/-- is a midstream
service company that provides diversified services for end users
and consumers of crude oil, natural gas, natural gas liquids and
refined products.  Services include purchasing, selling,
processing, transporting, terminalling and storing energy.
SemGroup serves customers in the United States, Canada, Mexico and
Wales.

SemGroup L.P. and its debtor-affiliates filed for Chapter 11
protection (Bankr. D. Del. Case No. 08-11525) on July 22, 2008.
John H. Knight, Esq., L. Katherine Good, Esq. and Mark
D. Collins, Esq., at Richards Layton & Finger; Harvey R. Miller,
Esq., Michael P. Kessler, Esq., and Sherri L. Toub, Esq., at Weil,
Gotshal & Manges LLP; and Martin A. Sosland, Esq., and Sylvia A.
Mayer, Esq., at Weil Gotshal & Manges LLP, represented the Debtors
in their restructuring efforts.  Kurtzman Carson Consultants
L.L.C. served as the Debtors' claims agent.  The Blackstone Group
L.P. and A.P. Services LLC acted as the Debtors' financial
advisors.

Margot B. Schonholtz, Esq., and Scott D. Talmadge, Esq., at Kaye
Scholer LLP; and Laurie Selber Silverstein, Esq., at Potter
Anderson & Corroon LLP, represented the Debtors' prepetition
lenders.

SemGroup L.P.'s affiliates, SemCAMS ULC and SemCanada Crude
Company, sought protection under the Companies' Creditors
Arrangement Act (Canada) on July 22, 2008.  Ernst & Young, Inc.,
is the appointed monitor of SemCanada Crude Company and its
affiliates' reorganization proceedings before the Canadian
Companies' Creditors Arrangement Act.

SemGroup LP won confirmation from the Bankruptcy Court of its
Fourth Amended Plan of Reorganization on Oct. 28, 2008.  The
Plan, which distributed more than $2.5 billion in value to
stakeholders, was declared effective on Nov. 30, 2008.

As part of the Plan, the Reorganized Debtors entered into two new
credit facilities aggregating $625 million in financing; entered
into a $300 million Second Lien Term Facility; created a new
corporate structure, including issuing shares of common stock and
warrants; and distributed approximately $500 million of cash and
approximately $1 billion in value of new common stock and warrants
to thousands of creditors in accordance with the Plan.


SOLIMAR ENERGY: Debenture Holders Agree to Waive Event of Default
-----------------------------------------------------------------
Solimar Energy Limited on Aug. 16 disclosed that it has reached an
agreement with holders of debentures issued pursuant to the
debenture indenture dated June 26, 2012.  The principal
outstanding under the Debentures is C$4.0 million.

After nearly one month of negotiations and further to the
Company's press releases dated July 22 and August 2, 2013, the
holders of Debentures have agreed to waive the event of default
under the Debenture Indenture and direct the trustee under the
Debenture Indenture to cancel the declaration that the outstanding
principal and interest owing thereunder is immediately payable on
the condition that the Debenture Indenture be amended and restated
to provide, among other things, as follows:

        -- the interest payable on the Debentures increases to 20%
per annum effective July 1, 2013 with 16% being payable on each
interest payment date and the additional 4% being accrued and
payable upon maturity;

        -- the maturity date of the Debentures is brought forward
to January 31, 2014.  However, at the Company's option and upon
the Company and its subsidiaries providing the holders of
Debentures first priority security on all of the Company's and its
subsidiaries' assets and payment of a C$250,000 extension fee,
payable proportionately to the holders of the Debentures at the
time of the extension, the maturity date may be extended to
July 31, 2014;

        -- the Company pays a loan modification fee of C$500,000,
payable proportionately to the holders of the Debentures upon
maturity;

        -- the Company covenants to use all reasonable commercial
efforts to pay, via the issuance of shares, any principal and
interest owing pursuant to the debenture indenture dated February
10, 2012, as amended July 27, 2012; and

        -- the Company and its subsidiaries covenant not to incur
or become responsible for, directly or indirectly, any additional
indebtedness that ranks in priority to the Debentures.

The Debenture Indenture was amended and restated as of August 14,
2013 to reflect the foregoing conditions.

Headquartered in Melbourne, Australia, Solimar Energy Limited --
http://www.solimarenergy.com.au/-- is engaged in the evaluation,
development of onshore oil and gas prospects and production of oil
and gas in California.


SPORTSMAN'S WAREHOUSE: S&P Affirms 'B' CCR; Outlook Stable
----------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B'
corporate credit rating on Midvale, Utah-based Sportsman's
Warehouse Inc. and on its holding company, Sportsman's Warehouse
Holdings Inc.  The outlook is stable.

Concurrently, S&P affirmed its 'B' issue-level rating, with a '3'
recovery rating, on the company's existing term loan, which is now
an amended and extended facility consisting of a $185 million
first-out tranche term loan due in 2019.  The '3' recovery rating
indicates S&P's expectation of meaningful (50% to 70%) recovery if
a payment default occurs.

S&P also assigned a 'CCC+' issue-level rating, with a '6' recovery
rating, to the company's $50 million last-out tranche term loan
also due in 2019; this is also part of the amended and extended
facility.  The '6' recovery rating indicates S&P's expectation of
negligible (0% to 10%) recovery of principal in the event of
default.

According to the company, it will use the proceeds from the
transaction to mainly to refinance all amounts outstanding under
its existing credit agreement and pay a $101 million dividend to
majority equity holder, Seidler Equity Partners, management and
key employees.

"The ratings on outdoor sporting goods retailer Sportsman's
Warehouse reflect Standard & Poor's view that the company has a
"weak" business risk profile and "highly leveraged" financial risk
profile," said credit analyst Kristina Koltunicki.  "Our
assessment of the company's weak business risk profile
incorporates its relatively small position in the highly
competitive and fragmented sporting goods and outdoor recreation
industry."

The stable outlook on Sportsman's Warehouse reflects S&P's
expectation that operating results will improve over the next year
due to continued positive sales trends but that the company's very
aggressive financial policies will mitigate any sustainable
improvements in credit protection measures.  S&P expects the
company's credit protection measures will remain indicative of a
highly leveraged financial risk profile.  S&P also anticipates the
company will continue to grow its store base at a mid-double-digit
percentage rate over the next 12 months, which should benefit
performance if the company can manage it well.

S&P would likely lower the rating if weaker-than-expected
operating results due to competitive pressures or a poor execution
of the company's growth strategy leads to lower operating margins,
causing debt to EBITDA to increase to the low 6.0x-area rather
than declining.  This scenario could occur if same store sales are
flat and gross margin contracts by about 50 basis points (bps)
over S&P's projections in 2013 through 2014.  S&P could also
consider a lower rating if liquidity becomes constrained,
demonstrated by covenant cushion headroom declining below 15%.

Alternatively, S&P could consider an upgrade if operating
performance progresses at a faster rate than it expects and its
view of the financial sponsors' appetite for future dividend
payments allows the company to maintain an "aggressive" financial
risk profile.  This would result in sustained debt leverage at
about 4x, which would merit a change in how S&P currently assess
the company's financial risk profile.  For this to occur, debt
would need to decline by approximately $120 million given S&P's
EBITDA forecast for 2013 and also be sustained at that level into
2014.


SPORTSMAN'S WAREHOUSE: Moody's Assigns B2 Rating to New Term Loan
-----------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to the first-out
tranche of Sportsman's Warehouse, Inc.'s proposed senior secured
term loan, a Caa1 to the last-out tranche, and affirmed the
company's B2 Corporate Family Rating. The ratings outlook remains
stable.

Sportsman's intends to use proceeds from the proposed term loan to
refinance its existing $125 million term loan due 2018 and fund an
approximately $102 million dividend to its shareholders. The
assigned ratings are based on terms and conditions of the
financing provided to Moody's, and are subject to review of final
documentation.

The proposed transaction follows an earlier debt financed special
dividend that the company completed in November 2012, and is
expected to yield pro forma leverage of approximately 5.1x,
compared to 4.1x as of the latest twelve month period ended May 4,
2013 (as calculated using Moody's standard analytic adjustments
including capitalizing rent at eight times). Sportsman's Warehouse
has seen operating profits double over the last 18 months as a
result of continued growth in the outdoor sporting goods market
augmented by a spike in demand for firearms and ammunition, as
well as continued profitable organic store unit growth and the
acquisition of ten previously-owned stores in March 2013. A
portion of this growth in earnings has been event driven due to
the spike in firearm sales, which will likely taper off in the
back half of the year due to the difficult comparisons with last
year. Though financial leverage materially increases pro forma for
the dividend, the affirmation of the B2 CFR reflects the company's
materially increased scale (46 stores currently versus 33 at
February 2, 2013) and strong financial performance over the last
three years.

Ratings Assigned:

- $185 million senior secured term loan (first-out tranche) due
   2019 at B2 (LGD4, 51%)

- $50 million senior secured term loan (last-out tranche) due
   2019 at Caa1 (LGD5,86%)

Ratings Affirmed:

- Corporate Family Rating at B2

- Probability of Default Rating at B2-PD

Rating Affirmed and to be withdrawn upon closing of the
refinancing:

- $125 million senior secured term loan due 2018 at B3 (LGD 4,
   58%)

Ratings Rationale:

Sportsman's B2 CFR reflects its modest scale, narrow product focus
and geographic concentration. The company currently operates 46
stores in 17 states, predominantly in the Western United States
with a narrow focus on sporting goods for the outdoor enthusiast.
The rating also reflects Sportsman's high financial leverage and
fairly aggressive nature of debt funded distributions to
shareholders, which pro forma for the proposed transaction
includes returning over $220 million (or nearly 3 times LTM
EBITDA) to shareholders since November 2012.

Supporting the rating are Sportsman's credible market position in
the regions where it operates, and its established track record of
strong organic growth over the past three years, led by strong
positive same-store sales and new store openings. The rating is
also supported by solid fundamentals in the outdoor sporting goods
market, which is considered a relatively stable segment of the
specialty retail industry due to the increased participation rates
and recurring nature of many products. Liquidity is adequate,
supported by the expectation that cash flow and excess revolver
availability will be more than sufficient to fund seasonal working
capital and capital spending over the next 12-18 months, with any
excess used for debt reduction.

The stable outlook reflects Moody's expectation that Sportsman's
will achieve moderate revenue and earnings growth while utilizing
free cash flow to fund growth and to reduce leverage.

The B2 rating assigned to the proposed first-out term loan
reflects its junior claim position relative to the $75 million ABL
revolver (unrated) with respect to inventory and credit card
receivables as well as its priority position to the proposed $50
million last-out tranche in a default scenario. The Caa1 assigned
to the last-out tranche reflects its junior claim position
relative to both the $75 million ABL revolver (unrated) and the
first-out tranche of the term loan. All guarantor, collateral, and
covenant provisions are expected to remain the same as the
existing credit agreement.

Given Sportsman's small scale and history of debt financed
dividends to owners, ratings upside is unlikely in the near term.
However, the ratings could be upgraded if the company demonstrates
sustained organic revenue and earnings growth, while sustaining
debt/EBITDA below 4.5 times and EBITA/interest over 2.5 times.

The ratings could be downgraded if performance deteriorates such
that debt/EBITDA increases above 6.0 times or if EBITA/interest
expenses approaches 1.5 times. Erosion in the company's liquidity
(such as reduced cushion under financial covenants or weaker-than-
expected cash flow) or more aggressive financial policies (such as
further debt-financed acquisitions or dividends) could also
pressure the ratings.

Headquartered in Midvale, UT, Sportsman's Warehouse, Inc. is a
retailer of outdoor sporting goods mainly located in the Western
United States. Revenue approached $570 million for the twelve
months ended May 4, 2013. The company is majority owned by Seidler
Equity Partners.

The principal methodology used in this rating was the Global
Retail Industry Methodology published in June 2011. Other
methodologies used include Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA
published in June 2009.


SPROUTS FARMERS: Debt Reduction Spurs Moody's to Lift CFR to B1
---------------------------------------------------------------
Moody's Investors Service upgraded Sprouts Farmers Market
Holdings, LLC's Corporate Family Rating and Probability of Default
Rating to B1 and B1-PD from B2 and B2-PD respectively. Moody's
also upgraded the rating of the company's $360 million senior
secured term loan and $60 million senior secured revolving credit
facility to B1 from B2. Additionally, Moody's assigned Sprouts a
speculative grade liquidity rating of SGL-2. The rating outlook is
stable.

"The significant reduction in Sprouts' total debt through proceeds
from its IPO will result in substantial improvement in credit
metrics", said Mickey Chadha, Senior Analyst at Moody's. "In
addition we expect Sprouts' good operating performance to continue
and further improve profitability and credit metrics in the next
12 to18 months", Chadha further stated.

The following ratings are upgraded:

Corporate Family Rating at B1 from B2

Probability of Default Rating at B1-PD from B2-PD

$360 million Senior Secured Term Loan maturing 2020 at B1 (LGD3,
49%) from B2 (LGD3, 49%)

$60 million Senior Secured Revolving Credit Facility maturing 2018
at B1 (LGD3, 49%) from B2 (LGD3, 49%)

The following ratings are assigned:

Speculative Grade Liquidity Rating at SGL-2

Ratings Rationale:

Sprouts' B1 Corporate Family Rating reflects its relatively small
scale, aggressive growth strategy, and financial policy risks.
Although Sprouts' estimated debt to EBITDA for fiscal 2013 is
expected to improve to approximately 4.5 times from Moody's
previous estimate of about 6.0 times (including Moody's standard
adjustments) primarily as a result of the repayment of $340
million of its senior secured term loan through the proceeds of
its recent IPO, its capital structure remains highly leveraged.
The ratings also reflect the company's attractive market niche,
good operating performance in a challenging economic and
competitive environment, and good liquidity.

The stable rating outlook incorporates Moody's expectation that
Sprouts' same store sales growth will remain positive, liquidity
will remain good and there will be no material change in industry
conditions. Moody's anticipates a modest improvement in credit
metrics over the next year. The outlook also reflects Moody's
expectation of no further material debt financed shareholder
distributions or acquisitions in the next 12-18 months.

Ratings could be upgraded should the company demonstrate continued
solid growth in revenues and profitability accompanied by a
sustained improvement in credit metrics. Quantitatively, an
upgrade could be achieved if debt to EBITDA is sustained below 4.0
times and EBITA to interest is maintained in excess of 2.75 times.

Ratings could be downgraded if debt to EBITDA is sustained above
5.0 times, or if EBITA to interest is sustained below 2.0 times.
Ratings could also be downgraded if the company's same store sales
growth or cash flow deteriorates or if operating performance
indicates loss of customer traffic or if there is a shift towards
a more aggressive financial policy.

Sprouts Farmers Market, LLC is a publicly traded specialty food
retailer headquartered in Phoenix, Arizona. The company operates
163 stores in 8 states including Arizona, California, Texas,
Colorado, New Mexico, Nevada, Oklahoma and Utah. An affiliate of
Apollo Management owns about 45% of Sprouts.

The principal methodology used in this rating was the Global
Retail Industry Methodology published in June 2011. Other
methodologies used include Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA
published in June 2009.


STACY'S INC: Accuses Lender of Trying to Derail Sale
----------------------------------------------------
Katy Stech, writing for DBR Small Cap, reported that struggling
nursery operator Stacy's Greenhouses Inc. has accused its biggest
lender of trying to derail a bankruptcy auction for its 260-acre
operations located south of Charlotte, N.C., with the motive of
forcing the company into state receivership instead.

                        About Stacy's Inc.

Stacy's Inc., a commercial greenhouse in York, South
Carolina, filed a Chapter 11 petition on June 21 (Bankr. D. S.C.
Case No. 13-03600) in Spartanburg, South Carolina, with a deal to
sell the business for $17 million to Metrolina Greenhouses, absent
higher and better offers.

Stacy's -- http://www.stacysgreenhouses.com/-- has 16 acres of
greenhouses on three farms aggregating 260 acres in York, South
Carolina.  The business employs 1,000 people during its peak
season.  The biggest customers include Home Depot, Lowe's, Wal-
Mart, Tractor Supply Company, Costco, and Harris Teeter.  The
secured lender is Bank of the West, owed $22.1 million secured by
liens on the assets.

The Debtor disclosed $26.4 million in total assets and $31.4
million in liabilities in its schedules.  The secured lender is
Bank of the West, owed $22.1 million secured by liens on the
assets.

The Debtor has tapped Barton Law Firm, P.A, as bankruptcy counsel;
Ouzts, Ouzts & Varn, P.A. as its financial advisor; SSG Advisors,
LLC, as its investment banker; and Faulkner and Thompson, P.A., to
provide limited accounting services.


SYNAGRO TECHNOLOGIES: Lowballed $4MM Claim, Conn. City Says
-----------------------------------------------------------
Law360 reported that the city of Waterbury, Conn., urged the
Delaware bankruptcy court to reject Synagro Technologies Inc.'s
Chapter 11 plan, saying the biosolids recycling company largely
undervalued the $4 million it owes to the city, making the plan
unworkable.

Synagro makes provisions to pay the city only $623,000, but the
municipality says it is actually owed $4.3 million connected to a
sludge disposal agreement the company had with Waterbury,
according to the motion filed in the U.S. Bankruptcy Court for the
District of Delaware, the report related.

                         About Synagro

Synagro Technologies, Inc., based in Houston, Texas, is the
recycler of bio-solids and other organic residuals in the U.S. and
is one of the largest national companies focused exclusivity on
biosolids recycling, which has a market size of $2 billion.  The
Company was formed in 1986, under the name RPM Marketing, Inc.
Synagro's corporate headquarters is currently located in Houston,
Texas but is in the process of being transferred to White Marsh,
Maryland.  The Company also has offices in Lansdale, Pennsylvania,
Rayne, Louisiana, and Watertown, Connecticut.

Synagro Technologies and 29 affiliates sought Chapter 11
protection (Bankr. D. Del. Case no. 13-11041) on April 24, 2013.
The lead debtor estimated assets and debts at $10 million to
$50 million.  Synagro Technologies disclosed $8,714,426 in assets
and $430,489,161 in liabilities.

Synagro was owned by The Carlyle Group at the time of the
bankruptcy filing.  It was acquired in April 2007 by Carlyle in a
$741 million transaction.

Synagro is being advised by Mark S. Chehi, Esq., at the law firm
of Skadden Arps Slate Meagher & Flom, along with financial adviser
AlixPartners and investment bankers Evercore Partners.  Kurtzman
Carson & Consultants serves as notice and claims agent.

No creditors' committee has been appointed in the cases by the
United States Trustee.


T-L BRYWOOD: RCG-KC Brywood Balks at Plan Outline Approval
----------------------------------------------------------
RCG-KC Brywood, LLC, successor by assignment to The PrivateBank &
Trust Company, filed a limited objection asking the Bankruptcy
Court to deny approval of the Joint Disclosure Statement
explaining T-L Brywood LLC's Chapter 11 Plan.

As reported in the Troubled Company Reporter on June 26, 2013, the
Debtor submitted a Joint Disclosure Statement explaining their
proposed Plan of Reorganization.

According to the Disclosure Statement, the Plan provides for full
payment of Class 1 Claim of RCG-KC Brywood, LLC, Class 2 Claim of
CT Bank, Class 6 Claim of JC Collector, and Class 7 Claim of The
Conyers Tax Collectors.

Classes 3 to 5 Claim of CT Bank will receive monthly interest
payments until the claim is paid in full.

Class 8 Claim of the Smyrna Tax Collectors will be paid in full in
cash on the Effective Date or soon as practicable thereafter.

The Plan is premised upon the deemed substantive consolidation of
the Debtors solely for purposes of implementing the Plan,
including for purposes of voting, confirmation, distributions to
creditors and administration.  On the Effective Date, and for Plan
Implementation purposes only:

   1. the assets and liabilities of each of the Debtors will be
      treated as though such assets and liabilities were assets
      and liabilities of a single entity;

   2. the collective cash flow of all of the Debtors maybe
      utilized to pay for the operating expenses and the payments
      required under the plan for all Debtors; and

   3. inter-Debtor claims as of the filing of the Chapter 11
      cases, if any, are extinguished.

A copy of the Disclosure Statement is available for free at
http://bankrupt.com/misc/T-L_BRYWOOD_ds.pdf

                        About T-L Brywood

T-L Brywood LLC filed for Chapter 11 bankruptcy (Bankr. N.D. Ill.
Case No.12-09582) on March 12, 2012.  T-L Brywood owns and
operates a commercial shopping center known as the "Brywood
Centre" -- http://www.brywoodcentre.com/-- in Kansas City,
Missouri.  The Property encompasses roughly 25.6 acres and
comprises 183,159 square feet of retail space that is occupied by
12 operating tenants.  The occupancy rate for the Property is
approximately 80%.

The Debtor and lender The PrivateBank and Trust Company reached an
impasse over the terms and conditions of another extension of a
mortgage loan on the Property.  As a result, the Debtor filed the
Chapter 11 case to protect the Property from foreclosure while the
Debtor formulates an exit strategy from the reorganization case.
As of the Petition Date, no foreclosure relating to the Property
had been filed by the Lender.

Judge Donald R. Cassling oversees the case.  The Debtor is
represented by David K. Welch, Esq., Arthur G. Simon, Esq., and
Jeffrey C. Dan. Esq., at Crane, Heyman, Simon, Welch & Clar, in
Chicago.

The Debtor disclosed total assets of $16,666,257 and total
liabilities of $13,970,622 in its schedules.  The petition was
signed by Richard Dube, president of Tri-Land Properties, Inc.,
manager.

The Plan filed in the Debtors' cases is premised upon the deemed
substantive consolidation of the Debtors solely for purposes of
implementing the Plan, including for purposes of voting,
confirmation, distributions to creditors and administration.

PrivateBank is represented by William J. Connelly, Esq., at
Hinshaw & Culbertson LLP.

No committee of creditors was appointed by the U.S. Trustee.


TALON INTERNATIONAL: Posts $1.3 Million Net Income in Q2
--------------------------------------------------------
Talon International, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $1.26 million on $16.64 million of net sales for the
three months ended June 30, 2013, as compared with net income of
$671,134 on $13.17 million of net sales for the same period a year
ago.

For the six months ended June 30, 2013, the Company reported net
income of $1.54 million on $26.78 million of net sales, as
compared with net income of $465,504 on $21.92 million of net
sales for the same period during the prior year.

Talon International disclosed net income of $679,347 for the year
ended Dec. 31, 2012, as compared with net income of $729,133
during the prior year.

As of June 30, 2013, the Company had $22.99 million in total
assets, $13.22 million in total liabilities, $25.77 million in
series B convertible preferred stock, and a $16 million total
stockholders' deficit.

"We are pleased with our second quarter results, and our ability
to deliver our fourth consecutive double-digit, quarterly increase
in revenues over the prior-year results," noted Lonnie Schnell,
Talon's CEO.  "This year we have continued to execute on our
vision for Talon's future by expanding our global sales teams and
opening new sales offices in Europe and Asia.  We are capitalizing
on the opportunities we see to expand our reach and enter into new
and promising geographies.  Importantly, now that we have
successfully eliminated the preferred stock liabilities, we are
better capitalized, and even better positioned, to compete and
grow significantly."

A copy of the Form 10-Q is available for free at:

                         http://is.gd/yqa0vX

                       About Talon International

Woodland Hills, Cal.-based Talon International, Inc. (OTC BB:
TALN) -- http://www.talonzippers.com/-- is a global supplier of
apparel fasteners, trim and interlining products to manufacturers
of fashion apparel, specialty retailers, mass merchandisers, brand
licensees and major retailers.  Talon manufactures and distributes
zippers and other fasteners under its Talon(R) brand, known as the
original American zipper invented in 1893.  Talon also designs,
manufactures, engineers, and distributes apparel trim products and
specialty waistbands under its trademark names, Talon, Tag-It and
TekFit, to more than 60 apparel brands and manufacturers including
Wal-Mart, Kohl's, J.C. Penney, Victoria's Secret, Tom Tailor,
Abercrombie and Fitch, Polo Ralph Lauren, Phillips-Van Heusen,
Reebok and Juicy Couture.  Talon has offices and facilities in the
United States, United Kingdom, Hong Kong, China, and Bangladesh.


TERESA GIUDICE: 'Real Housewives Of NJ' Stars Plead Not Guilty
--------------------------------------------------------------
Law360 reported that two stars of the Bravo reality show "The Real
Housewives of New Jersey" pled not guilty to 39 charges, including
bankruptcy fraud and bank fraud, in New Jersey federal court.

According to the report, Teresa Giudice, the self-proclaimed
"Jersey Girl" turned author of "skinny" Italian recipes, is known
for her role on Bravo's "The Real Housewives of New Jersey"
franchise, which chronicles the lives of five women living in
northern New Jersey.

As previously reported by The Troubled Company Reporter, the two
stars of the reality show have been accused of lying on loan
applications, committing bankruptcy fraud and failing to file tax
returns, according to an indictment by a New Jersey grand jury.

The 39-count indictment charges Ms. Giudice and her husband,
Giuseppe "Joe" Giudice, both of Towaco, N.J., with conspiracy to
commit mail and wire fraud, bank fraud, making false statements on
loan applications, bankruptcy fraud and failure to file tax
returns.

The two stars were released on bonds of $500,000 each following
their initial court appearance.

                        About the Giudices

In June 2010, Teresa Giudice, who portrays a role in Real
Housewives of New Jersey, and her husband, Joe, filed for
bankruptcy under Chapter 11 in the U.S. Bankruptcy Court in New
Jersey.  The Giudices owe creditors $10.85 million.

Chapter 7 trustee John Sywilok sued the Giudices.  The suit
claimed that the Debtors concealed key documents about their
finances and business transactions.  Mr. Sywilok also accused the
couple of making false statements under oath about their assets,
income and expenses.


TIMIOS NATIONAL: Posts $329,000 Net Income in Second Quarter
------------------------------------------------------------
Timios National Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income attributable to common stockholders of $329,200 on
$8.51 million of net revenue for the three months ended June 30,
2013, as compared with a net loss of $427,552 on $4.57 million of
net revenue for the same period a year ago.

For the six months ended June 30, 2013, the Company posted net
income attributable to common stockholders of $395,024 on $15.87
million of net revenue, as compared with a net loss attributable
to common stockholders of $546,410 on $9.46 million of net revenue
for the same period during the prior year.

Timios National disclosed a net loss of $2.76 million for the year
ended Dec. 31, 2012, as compared with a net loss of $3.98 million
for the year ended June 30, 2011.

The Company's balance sheet at June 30, 2013, showed $4.87 million
in total assets, $2.44 million in total liabilities and $2.42
million in total stockholders' equity.

A copy of the Form 10-Q is available for free at:

                         http://is.gd/3ayWwZ

                        About Timios National

Timios National Corporation (formerly known as Homeland Security
Capital Corporation) was incorporated in Delaware on Aug. 12,
1997, under the name "Celerity Systems, Inc."  In August 2005, the
Company changed its name to "Homeland Security Capital
Corporation" and changed its business plan to seek acquisitions of
and joint ventures with companies operating in the homeland
security business sector and, until July 2011, operated soley as a
provider of specialized, technology-based, radiological, nuclear,
environmental, disaster relief and electronic security solutions
to government and commercial customers.  The Company's corporate
headquarters is located in Arlington, Virginia.


TNP STRATEGIC: Proposal Would Have Avoided Defaults, Thompson Says
------------------------------------------------------------------
Thompson National Properties, LLC on Aug. 16 disclosed that it
believes the Special Committee of the Board of Directors of TNP
Strategic Retail Trust, Inc. ("SRT") comprised of Phillip Levin,
John Maier and Jeffrey Rogers has facilitated the takeover of the
company by Glenborough LLC without shareholder approval or payment
of a control premium.  TNP believes that SRT's August 12th press
release is an attempt to disguise Glenborough's acquisition of
control of SRT by continuing to deflect blame for the Special
Committee's poor decisions.

TNP said "Based on the past actions of Levin, Rogers and Maier on
the Special Committee, we believe the company will continue to
perform poorly if it is managed by Levin, Rogers and Maier.  TNP
understands that the most important issue to the SRT shareholders
is the return of their capital and making a profit."

The Special Committee Has Engineered the Takeover of SRT by
Glenborough

TNP said "We believe the most recent actions of Levin, Rogers and
Maier as Special Committee members to purportedly terminate its
relationship with TNP and to appoint a Glenborough representative
to the Board of Directors are part of a scheme to facilitate
Glenborough's takeover of SRT."

"Glenborough has steadily sought control over SRT without
shareholder approval or any payment of control premium.  In fact,
far from paying any premium, we believe Glenborough has acquired
its interest in SRT at a significant detriment and cost to the
shareholders.  Below are a few examples of the facilitation of
Glenborough's creeping control by directors Levin, Rogers and
Maier, none of which were approved by the shareholders:

-- The Special Committee hired Glenborough as a consultant in
December 2012 and initially was paid $75,000 a month, which was
subsequently raised to $90,000 a month, to do the same work that
TNP was performing.  In connection with hiring Glenborough, the
Special Committee stripped TNP of effectively all of its authority
to advise and manage SRT.

-- The Special Committee sold Glenborough a 12% interest in SRT
Holdings (an SRT subsidiary that holds five properties) in a
sweetheart deal.  The transaction resulted in an immediate
transfer of more than $468,000 of value from the SRT shareholders
to Glenborough's pockets because the purchase price was based on
the net acquisition cost, and not the higher current market value,
of those five properties.  Adding insult to injury, SRT paid for
all of Glenborough's legal fees in connection with the
transaction. In total, SRT paid almost six figures for its and
Glenborough's legal fees and other transaction expenses.  In
addition, under the terms of the transaction, Glenborough cannot
be removed from managing those properties unless it is bought out.
Because the buyout price is based on the then current market value
of the properties plus a preferred return of 7%, this is a poison
pill that makes Glenborough's termination inappropriately costly.
We understand that the Special Committee did not even solicit
third parties to obtain better investment terms than those offered
by Glenborough or obtain an independent fairness opinion. TNP
would have matched or exceeded these terms, but it was not given
the opportunity.

-- The Special Committee has terminated TNP as the advisor and is
attempting to terminate TNP Property Manager, LLC ("TNP Manager")
as property manager.  TNP Manager has managed SRT's properties
under difficult circumstances.  Now as the properties begin to
stabilize and the economy improves, the Special Committee has
handed over the keys to Glenborough without getting any value for
shareholders that we can discern.  The Special Committee has now
appointed Glenborough as a property manager, which we believe is a
violation of TNP Manager's property management agreements and may
potentially breach various loan agreements.  In our view, these
violations will result in SRT incurring additional legal fees,
just like the large legal fees incurred with respect to the Key
Bank and Torchlight loans."

SRT Shareholders Have Been Disenfranchised

TNP said "The Special Committee claims they have taken these
actions in the best interests of the shareholders, but it has not
bothered to solicit the input of the shareholders through a vote.
Moreover, SRT has not held an annual meeting in almost 13 months,
which has further disenfranchised the SRT shareholders from
expressing their views about the direction of the company."

"The shareholders invested in SRT based on the vision and
leadership of TNP.  We believe Glenborough is the wrong advisor to
manage SRT. SRT focuses on grocery anchored, multi-tenant retail
centers.  Glenborough has virtually no retail experience.  In
fact, Glenborough's own public disclosures show that its managed
portfolio is comprised of nearly all office properties.  We do not
think the SRT shareholders should pay Glenborough to learn on the
job.  Moreover, TNP is committed to promptly achieving a liquidity
event for SRT shareholders.  Glenborough's track record suggests
its investment philosophy is to purchase and hold distressed
properties and that Glenborough does not focus on achieving a
liquidity event for investors in the near term.  Glenborough took
over investment programs by Rancon and August, among others, in
the 1990s, and today Glenborough is still holding some of those
properties under its fee-oriented management system.

"In contrast, TNP and its affiliates have 20 years of retail
experience and TNP Manager maintains the same property management
staff today that has managed and leased the SRT properties for the
last three years.  TNP Manager's operating results to date
demonstrate its successful performance as a property manager for
SRT.  For example, TNP Manager sold eight parcels, generating a
26.6% increase in value compared to the implied value basis of the
parcels.  The acquisition and sale of the Waianae Mall provides
another example of TNP's generation of value for shareholders.
Waianae was sourced by TNP in 2010 and sold less than three years
later.  The sale generated a 47% internal rate of return and over
$8.7 million in cash.

"The shareholders should have been provided the opportunity to
vote on such a fundamental change to the management and direction
of the company.

Special Committee Continues to Deflect Blame for its Bad Decisions

TNP said "SRT's August 12th press release is rife with
misstatements and inaccuracies and is just the most recent example
of the attempt by Special Committee members Levin, Rogers and
Maier to deflect blame for their bad decisions.  For example:

-- The Special Committee's and Glenborough's offer to waive or
return some fees and the unsupported cost savings number are a
weak attempt to mask the excessive expenses that the Special
Committee has burdened the shareholders with.  SRT fails to
mention that it has incurred at least $5 million of unnecessary
costs or losses because of the Special Committee's actions, which
includes: (1) the $468,000 effective loss to shareholders because
of Glenborough's sweetheart investment in SRT Holdings, (2) the $1
million in fees paid to Levin, Rogers and Maier and attorneys for
the Special Committee, (3) $1 million of fees paid to a prior
auditor that could have been avoided if the Special Committee
terminated them when TNP recommended instead of waiting an
additional six months to terminate the auditor, (4) $100,000's in
fees for employee terminations, (5) $750,000 in additional annual
interest costs and attorney fees because of the forbearance with
Key Bank and defaults with Torchlight, which we believe could have
been avoided if the Special Committee implemented our alternative
proposal, (6) the Lahaina Gateway Center loss because of the deed
in lieu of foreclosure decision by the Special Committee and (7)
excessive travel, lodging, meals and alcohol expenses, including
private air charter and first class hotels for Special Committee
members and Glenborough executives.

-- Levin, Rogers and Maier as members of the Special Committee
fail to acknowledge that they voted to stop paying dividends to
the shareholders even though they have paid themselves,
Glenborough and their respective attorneys almost $2 million.  We
think it is unfair that during this same period the shareholders
have received only $661,633 in dividends.

-- Glenborough's asset management fees are likely to be higher
than TNP's asset management fees.  Glenborough has a fixed fee
structure.  Contrast that to TNP's performance based fees where
TNP would not be paid asset management fees until funds from
operations of the company exceed certain thresholds.  Moreover,
Glenborough is guaranteed at least $250,000 of asset management
fees per year.

-- Levin, Rogers and Maier were fully informed of and approved the
terms of the loan for the Lahaina Gateway Center that they now
claim were onerous.  They understood that the ability to acquire
the Lahaina Gateway Center at almost $5 million below appraisal
value presented a unique opportunity, but as a trade-off would
result in negative cash flow in the near term as the property was
stabilized.  As described below, TNP presented solutions that
would have addressed these cash flow issues, which the Special
Committee declined.  Accordingly, the Special Committee should
shoulder the blame for the loss incurred by prematurely handing
the property back to the lender just nine months after the Special
Committee voted to use the full appraised value of Lahaina to
calculate SRT's NAV in November 2012.  Glenborough and its CEO
Andrew Batinovich also recommended the surrender of the Lahaina
property back to the lender.  Director Tony Thompson was the only
director that voted against this damaging decision.

-- The Special Committee rejected our proposal that we believe
would have avoided defaults under the Key Bank loan.  As
previously described in our July 23, 2013 letter, TNP had
presented for the Special Committee's approval a $2.75M unsecured
line of credit as well as financing options to refinance up to
three properties secured by the Key Bank line of credit, which
also would have addressed the cash flow of the Lahaina property.
In our view, the new line of credit and the proceeds from the
refinancing would have paid down a significant portion of Key Bank
line of credit and avoided the defaults with Key Bank and
Torchlight and decreased the company's annual interest expense.

-- We believe the Special Committee's attempt to terminate the
property asset management agreements is a clear violation of the
terms of those agreements.  This improvident action will result in
further fees and costs to SRT shareholders as we vindicate our
rights.  Furthermore, for the members of the Special Committee to
assert that they did not agree to the property management
agreements smacks of disingenuousness.  These agreements have been
in place as early as 2009, and were publicly filed in the
company's SEC filings.

-- Contrary to the Special Committee's statements, FINRA has not
accused TNP of securities violations and does not have any
jurisdiction over TNP.

-- TNP Manager has been operating profitably since inception and
is adequately capitalized.  TNP Manager has ample resources to
meet all of its financial and service obligations.  The Special
Committee continues to throw out the equity value of TNP but it
has no bearing on the financial strength of TNP Property Manager,
who again has operated profitably since inception.

-- TNP has not refused to turn over the shareholder records.  TNP
is ready and able to cooperate subject to the payment of costs
that it incurs to transfer the data.

TNP said "We believe TNP has been scapegoated for the failures
resulting from the Special Committee's unilateral and ill-
considered decision to take control of the management of the
company.  We could go on to try to correct all of the inaccuracies
and misstatements, but we think this would be better addressed by
allowing the shareholders to voice their opinions at a shareholder
meeting.  So far, Levin, Rogers and Maier as Special Committee
members have refused to call an annual meeting for this year.  We
urge Levin, Rogers and Maier to act in the best interests of the
shareholders and to fulfill their fiduciary duties by giving
shareholders a say in the direction of SRT."

                             About TNP

TNP -- http://www.tnpre.com-- is a real estate advisory company,
specializing in acquisitions for high net worth investors and
their joint venture partners, along with 3rd party property
management, asset management and receivership advisory services.

Headquartered in Costa Mesa, California, TNP was founded in April
2008 and has three regional offices. As of August 16, 2013, TNP
manages a portfolio of 106 commercial properties, in 24 states,
totaling approximately 11.02 million square feet, on behalf of
over 6,000 investor/owners/lenders with an overall purchase value
of $1.2 billion.

                       About TNP Strategic

TNP Strategic Retail Trust, Inc., was formed on Sept. 18, 2008, as
a Maryland corporation.  The Company believes it qualifies as a
real estate investment trust under the Internal Revenue Code of
1986, as amended, and has elected REIT status beginning with the
taxable year ended Dec. 31, 2009, the year in which the Company
began material operations.  The Company was initially capitalized
by the sale of 22,222 shares of common stock for $200,000 to
Thompson National Properties, LLC, on Oct. 16, 2008.

TNP Strategic's balance sheet at Sept. 30, 2012, showed $272.33
million in total assets, $197.98 million in total liabilities and
$74.34 million in total equity.

The Company reported a net loss of $11.63 million for the nine
months ended Sept. 30, 2012, compared with a net loss of
$4.39 million for the same period a year ago.


TRINITY COAL: Files Bankruptcy-Exit Plan Backed by Essar
--------------------------------------------------------
Marie Beaudette, writing for DBR Small Cap, reported that Trinity
Coal Corp. has filed a plan to exit Chapter 11 protection under
the control of its current owner, India's Essar Global.

                        About Trinity Coal

Trinity Coal Corp. is a coal mining company that owns coal
deposits located in the Appalachian region of the eastern United
States, specifically, in Breathitt, Floyd, Knott Magoffin, and
Perry Counties in eastern Kentucky and in Boone, Fayette, Mingo,
McDowell and Wyoming Counties in West Virginia.

Trinity's coal mining operations are organized into six distinct
coal mining complexes. Three complexes are located in Kentucky and
are referred to as Prater Branch Resources, Little Elk Mining and
Levisa Fork.  The Kentucky Operations produced compliance and low
sulfur steam coal.  Three complexes are located in West Virginia
and are referred to as Deep Water Resources, North Springs
Resources and Falcon Resources.

Trinity is a wholly owned subsidiary of privately held
multinational conglomerate Essar Global Limited.

Credit Agricole Corporate & Investment Bank, ING Capital LLC and
Natixis, New York Branch filed an involuntary petition for relief
under Chapter 11 against Trinity Coal Corporation and 15
affiliates (Bankr. E.D. Ky. Lead Case No. 13-50364).  The three
entities say they are owed a total of $104 million on account
loans provided to Trinity.

On Feb. 14, 2013, Austin Powder Company, Whayne Supply Company and
Cecil I. Walker Machinery Co. filed an involuntary petition for
relief under Chapter 11 (Bankr. E.D. Ky. Case No. 13-50335)
against Frasure Creek Mining, LLC.  On Feb. 19, 2013, Credit
Agricole, ING Capital and Natixis joined as petitioning creditors.

On March 4, 2013, the Debtors filed their consolidated answer to
involuntary petitions and consent to an order for relief and
reservation of rights, thereby consenting to the entry of an order
for relief in each of their respective Chapter 11 cases.  An order
for relief in each of the Debtors was entered by the Court on
March 4, 2013, which converted the involuntary cases to voluntary
Chapter 11 cases.

Sturgill, Turner, Barker & Moloney, PLLC serves as local counsel
to the Official Committee of Unsecured Creditors.


UNIFIED 2020: Can Employ Southland as Property Tax Consultant
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
authorized Unified 2020 Realty Partners, LP, to employ Michael
Flynn of Southland Property Tax Consultants, Inc., as Property Tax
Consultant for the Debtor.

As reported in the TCR on June 28, 2013, Southland Property will
negotiate the ad valorem tax appraised value of the Debtor's
property.

Southland has agreed to represent the Debtor on a contingency
basis.  The fee to be paid to Southland is 25 percent of any ad
valorem tax savings realized for the Debtor.

                      About Unified 2020 Realty

Unified 2020 Realty Partners, LP, filed a bare-bones petition
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No.
13-32425) in its home-town in Dallas on May 6, 2013.  The petition
was signed by Edward Roush as president of general partner.  The
Debtor disclosed $44.7 million in total assets and $31.6 million
in liabilities as of the Chapter 11 filing.  The Debtor says it
owns and leases infrastructure critical to telecommunications
companies and data center facilities.  Judge Stacey G. Jernigan
presides over the Chapter 11 case.

Arthur I. Ungerman, Esq., and Kerry S. Alleyne-Simmons, Esq., at
the Law Office of Arthur Ungerman, in Dallas, Texas, represent the
Debtor.  Peter C. Lewis, Esq., and Jacob W. Sparks, Esq., at
Scheef & Stone, LLP, in Dallas, Texas, represent United Central
Bank.

In its schedules, the Debtor disclosed $280,178,409 in assets and
$46,378,972 in liabilities.


UNIFIED 2020: Taps J. Slim for Litigation Matters Pending in Court
------------------------------------------------------------------
Unified 2020 Realty Partners, LP, asks the U.S. Bankruptcy Court
for the Northern District of Texas for authorization to employ
Jules Slim, Esq., as the Debtor's co-counsel.

According to papers filed with the Court on August 4, Mr. Slim
will represent the Debtor for litigation matters now pending
before the Court such as 1) Debtor's Objection to Motion to
Appoint Trustee of Orange Business Services U.S., Inc., 2)
Debtor's Objection to Emergency Motion to Remove Edward J. Roush,
Jr., as Acting on Behalf of Debtor in Possession Pursuant to 11
U.S.C. 1104; and any future Litigation that may arise in its
Bankruptcy Proceeding.

Mr. Slim''s hourly rate will be $275 per hour.

                      About Unified 2020 Realty

Unified 2020 Realty Partners, LP, filed a bare-bones petition
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No.
13-32425) in its home-town in Dallas on May 6, 2013.  The petition
was signed by Edward Roush as president of general partner.  The
Debtor disclosed $44.7 million in total assets and $31.6 million
in liabilities as of the Chapter 11 filing.  The Debtor says it
owns and leases infrastructure critical to telecommunications
companies and data center facilities.  Judge Stacey G. Jernigan
presides over the Chapter 11 case.

Arthur I. Ungerman, Esq., and Kerry S. Alleyne-Simmons, Esq., at
the Law Office of Arthur Ungerman, in Dallas, Texas, represent the
Debtor.  Peter C. Lewis, Esq., and Jacob W. Sparks, Esq., at
Scheef & Stone, LLP, in Dallas, Texas, represent United Central
Bank.

In its schedules, the Debtor disclosed $280,178,409 in assets and
$46,378,972 in liabilities.


UNIFIED 2020: Schiller Exline Asks Court to Remove Edward Roush
---------------------------------------------------------------
Schiller Exline, PLLC, a law firm that previously represented
Debtor United 2020 Realty Partners, LLP, asks the U.S. Bankruptcy
Court for the Northern District of Texas to remove Edward W.
Roush, Jr. as acting on behalf of the Debtor-in-Possession,
pursuant to 11 U.S.C. 1104.

According to papers filed with the Court July 9, all filings with
the Court have been made by and through Edward W. Roush, Jr., the
alleged President of the General Partner of the Debtor and Sole
Manager of BVL Partners, LLC (the sole manager of the General
Partner).

According to the Movant, cause exists to remove Edward W. Roush,
Jr., for the following reasons:

   1. Edward W. Roush, Jr., has hidden Debtor's real property
assets that were given away on April 15, 2013, to another entity
that he controls, Rainmaker Advisors, LLC;

   2. Edward W. Roush, Jr., has filed falsified Statements of
Financial Affairs to hide the Real Estate transferred on April 15,
2013, to another entity that he controls and then gifted to a
charitable organization;

   3. Edward W. Roush, Jr., resigned "as an officer in all
capacities of Unified 2020 Realty Partners GP, LLC" effective June
25, 2013, at 12 noon;

   4. BVL Partners, LLC, by and through Edward W. Roush, Jr., its
sole manager, resigned and withdrew as Sole Manager of Unified
2020 Realty Partners GP, LLC, on June 25, 2013, effective 12 noon;

   5. Edward W. Roush, Jr., "resigned as an officer in all
capacities of Unified Live Oak Equity Partners GP, LLC" on June
25, 2013, effective 12 noon; and

   6. BVL Partners, LLC, by and through its sole manager Edward W.
Roush, Jr., resigned and withdrew as the Sole Manager of Unified
Live Oak Equity Partners GP, LLC, on June 25, 2013, effective 12
noon.

                      About Unified 2020 Realty

Unified 2020 Realty Partners, LP, filed a bare-bones petition
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No.
13-32425) in its home-town in Dallas on May 6, 2013.  The petition
was signed by Edward Roush as president of general partner.  The
Debtor disclosed $44.7 million in total assets and $31.6 million
in liabilities as of the Chapter 11 filing.  The Debtor says it
owns and leases infrastructure critical to telecommunications
companies and data center facilities.  Judge Stacey G. Jernigan
presides over the Chapter 11 case.

Arthur I. Ungerman, Esq., and Kerry S. Alleyne-Simmons, Esq., at
the Law Office of Arthur Ungerman, in Dallas, Texas, represent the
Debtor.  Peter C. Lewis, Esq., and Jacob W. Sparks, Esq., at
Scheef & Stone, LLP, in Dallas, Texas, represent United Central
Bank.

In its schedules, the Debtor disclosed $280,178,409 in assets and
$46,378,972 in liabilities.


UNIFIED 2020: OBS Asks Court to Appoint Chapter 11 Trustee
----------------------------------------------------------
Orange Business Services U.S., Inc., a party-in-interest in the
Chapter 11 case of United 2020 Realty Partners, LP, asks the U.S.
Bankruptcy Court for the Northern District of Texas to appoint a
Chapter 11 trustee in the Debtor's case.

According to papers filed with the Court on July 23, OBS was
tenant in the Building located at 2020 Live Oak Street in Dallas
which the Debtor purchased in 2008.  According to OBS, after
acquiring the Building, the Debtor initiated a series of
adversarial steps against OBS in an effort to extract higher rents
and cash payments.  The Debtor's efforts culminated in an April
2011 lawsuit against OBS in the District Court for the 44th
Judicial District of Dallas County, Texas (No. 11-01940-B).

OBS relates that in the lawsuit, the Debtor sought more than
$100 million in damages under the Lease dating back to 2000.  OBS
then filed a counterclaim against the Debtor in May 2012 for: (i)
the Debtor's breach of the Lease and related agreements; and (ii)
the Debtor's conversion of millions of dollars worth of property;
and (iii) declaratory relief.

On April 22, 2013, the State Court rendered summary judgment in
favor of OBS on the Counterclaim, and awarded OBS damages against
the Debtor in the approximate amount of $14,223,229.  The State
Court also awarded punitive damages.

OBS presented these arguments:

   A. The Court should appoint a Chapter 11 trustee to manage the
Debtor's affairs.

   B. Cause exists to appoint a trustee under Section 1104(a)(1),
citing:

      * the removal action filed by Schiller Exline, PLLC, against
        Edward W. Roush, Jr., presents evidence of fraud and
        dishonesty.

      * Edward W. Roush, Jr.., has a problematic history of
        corporate dealings.

                     About Unified 2020 Realty

Unified 2020 Realty Partners, LP, filed a bare-bones petition
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No.
13-32425) in its home-town in Dallas on May 6, 2013.  The petition
was signed by Edward Roush as president of general partner.  The
Debtor disclosed $44.7 million in total assets and $31.6 million
in liabilities as of the Chapter 11 filing.  The Debtor says it
owns and leases infrastructure critical to telecommunications
companies and data center facilities.  Judge Stacey G. Jernigan
presides over the Chapter 11 case.

Arthur I. Ungerman, Esq., and Kerry S. Alleyne-Simmons, Esq., at
the Law Office of Arthur Ungerman, in Dallas, Texas, represent the
Debtor.  Peter C. Lewis, Esq., and Jacob W. Sparks, Esq., at
Scheef & Stone, LLP, in Dallas, Texas, represent United Central
Bank.

In its schedules, the Debtor disclosed $280,178,409 in assets and
$46,378,972 in liabilities.


UNITEK GLOBAL: Incurs $77.7 Million Net Loss in 2012
----------------------------------------------------
Unitek Global Services, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a
net loss of $77.73 million on $437.59 million of revenues for the
year ended Dec. 31, 2012, as compared with a net loss of $9.13
million on $351.45 million of revenues for the year ended Dec. 31,
2011.  The Company reported $30.58 million net loss in 2011.

As of Dec. 31, 2012, the Company had $326.40 million in total
assets, $278.10 million in total liabilities and $48.30 million in
total stockholders' equity.

                         Bankruptcy Warning

As of Dec. 31, 2012, the Company's total indebtedness, including
capital lease obligations, was approximately $170 million.  This
amount has increased to approximately $210 million as of Aug. 9,
2013, including amounts borrowed to cash collateralize letters of
credit.  The Company's current debt also bears interest at rates
significantly higher than historical periods.  The Company said
its substantial indebtedness could have important consequences to
its stockholders.  It will require the Company to dedicate a
substantial portion of its cash flow from operations to payments
on its indebtedness, thereby reducing the availability of the
Company's cash flow to fund acquisitions, working capital, capital
expenditures and other general corporate purposes.

"An event of default under either of our credit facilities could
result in, among other things, the acceleration and demand for
payment of all the principal and interest due and the foreclosure
on the collateral.  As a result of such a default or action
against collateral, we could be forced to enter into bankruptcy
proceedings, which may result in a partial or complete loss of
your investment," the Company said in the filing.

A copy of the Form 10-K is available for free at:

                        http://is.gd/TuiWMb

                    About UniTek Global Services

UniTek Global Services, Inc., based in Blue Bell, Pennsylvania,
provides fulfillment and infrastructure services to media and
telecommunication companies in the United States and Canada.

                             *   *    *

As reported by the TCR on June 11, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on Blue Bell, Pa.-
based UniTek Global Services Inc. to 'D' from 'CCC'.  "The
downgrade follows UniTek's announcement that it did not make
a scheduled interest payment on May 29, 2013, on its senior
secured term loan due 2018, which we consider to be a default
under our timeliness of payments criteria," said Standard & Poor's
credit analyst Michael Weinstein.

In the June 11, 2013, edition of the TCR, Moody's Investors
Service lowered UniTek Global Services, Inc.'s probability of
default and corporate family ratings to Ca-PD/LD and Ca,
respectively.  The Ca corporate family rating reflects UniTek's
missed interest payment on the term loan which is considered a
default under Moody's definition, the heightened possibility of
another default event, continued delays in the filing of restated
financials including the last two audits, management turnover, the
potential loss of the company's largest customer and other
business and legal risks stemming from issues at the company's
Pinnacle subsidiary.


VALLEYCREST COS: S&P Raises Corp. Credit Rating to 'B'
------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Calabasas, Calif.-based ValleyCrest Cos. LLC to
'B' from 'B-'.  The outlook is stable.

S&P also raised its issue level secured debt rating to 'B' from
'B-' (same as the corporate credit rating).  The recovery rating
is '4', indicating S&P's expectation for average (30% to 50%)
recovery in the event of a payment default.

"The one-notch ratings upgrade reflects our view that
ValleyCrest's credit metrics have improved, as a result of EBITDA
growth attributed to higher sales in the company's key operating
segments, favorable mix shift from a rebound in its snow removal
business, and moderating fuel costs," said Standard & Poor's
credit analyst Linda Phelps.  "We believe credit metrics are
sustainable at currently lower levels and could continue to
improve modestly with debt reduction and lower borrowing costs
following the refinancing transaction completed in June 2013," she
added.

However, S&P believes the company's financial risk profile
continues to be "highly leveraged," based on S&P's expectation
that leverage will continue to exceed 5x over the next year; S&P
also assess the company's financial policy to be "aggressive."
S&P views ValleyCrest's business risk profile to be "weak,"
reflecting the company's narrow business focus, susceptibility to
external factors such as weather and rising fuel costs, and its
participation in the highly fragmented landscaping market, which
has low barriers to entry. (Note: ValleyCrest is a private
company, and does not publicly disclose financial data.)

The outlook is stable, reflecting S&P's expectation that operating
performance will continue to be sound and credit metrics could
improve modestly with debt reduction and lower borrowing costs
following the recent refinancing transaction.  The stable outlook
incorporates S&P's expectation that the company will maintain
leverage in the high-4x to the mid-5x area.

S&P would consider raising the rating one notch if it believes the
company can strengthen profitability and sustain leverage in the
mid 4x area, possibly through a combination of sales growth and
debt reduction.  At current debt levels, S&P estimates fiscal 2013
EBITDA would need to increase by about 20% for this to occur.

Alternatively, S&P could lower its rating if ValleyCrest
experiences weaker operating performance than it expects, related
to weak economic growth, unfavorable weather conditions or rising
fuel costs, resulting in leverage of over 6x.  At current debt
levels, S&P estimates that fiscal 2013 EBITDA would need to
decline by over 10% for this to occur.


VILLAGE AT NIPOMO: Proposed Final Cash Collateral Order Opposed
---------------------------------------------------------------
Coastline Re Holdings Corp., a creditor of The Village at Nipomo,
LLC, objects to the proposed final order authorizing the Debtor to
use cash collateral because the proposed order contains errors and
terms not approved by the U.S. Bankruptcy Court for the Central
District of California, San Fernando Valley Division, and fails to
include the specificity necessary and appropriate with respect to
certain terms of cash collateral use.

Coastline is the current holder of a loan the Debtor obtained from
Pacific Western Bank, which loan is secured by the Debtor's single
real property asset.

Coastline is represented by A. Kenneth Hennesay, Jr., Esq. --
khennesay@allenmatkins.com -- at Allen Matkin Leck Gamble Mallory
& Natsis LLP, in Irvine, California.

                     About Village at Nipomo

The Village at Nipomo, LLC, operator of a shopping center in Tefft
and Mary Streets, in Nipomo, California, sought Chapter 11
protection (Bankr. C.D. Cal. Case No. 13-13593) on May 28, 2013.

The company sought bankruptcy protection following efforts by
Pacific Western Bank to appoint a receiver for the Debtor's
commercial shopping center known as "The Village at Nipomo".

VAN LLC was formed by Edwin F. Moore, who is currently a member of
the Debtor, holding a 25 percent interest in the company.  Edwin
Moore and Carolyn W. Moore earlier filed a separate Chapter 11
petition (Case No. 12-15817).  The Debtor disclosed $11,802,970 in
assets and $9,645,558 in liabilities as of the Chapter 11 filing.
The Debtor is represented by Illyssa I. Fogel, Esq., at Illyssa I.
Fogel & Associates.


WATERSTONE AT PANAMA: Seeks Extension to File Plan Until Dec. 5
---------------------------------------------------------------
Waterstone at Panama City Apartments, LLC, asks the Bankruptcy
Court to extend the deadline within which it can exclusively file
a plan of reorganization and disclosure statement until Dec. 5,
2013.  The initial deadline for filing a plan and disclosure
statement expired on August 7.

The Debtor faced a motion to dismiss filed shortly after the
Petition Date.  The principals of the Debtor have met with
examinations pursuant to Rule 2004 of the Federal Rules of
Bankruptcy Procedure and all of the directors of the Debtor have
been deposed.

"The ongoing discovery, the depositions and the 2004 exams, all of
which have been scheduled over the past sixty days, have taken the
Debtor's focus away from the preparation of a disclosure statement
and preparation of a plan of reorganization, although preliminary
work has been done," William L. Biggs, Esq., at Gross & Welch,
P.C., LLO, in Omaha, Nebraska, counsel for the Debtor, tells the
Court.

Mr. Biggs adds that the Debtor had difficulty obtaining a
bankruptcy court order authorizing the use of cash collateral
because it met resistance at every step in the process from Lenox
Mortgage XVII, LLC, the Debtor's lender.  The Debtor and Lenox are
now in the process of scheduling a meeting to consider settlement.

Omaha, Nebraska-based Waterstone at Panama City Apartments, LLC
filed for Chapter 11 protection (Bankr. D. Neb. Case No. 13-80751)
on April 9, 2013.  Bankruptcy Judge Timothy J. Mahoney presides
over the case.  William L. Biggs, Jr., Esq., at Gross & Welch,
P.C., L.L.O., represents the Debtor in its restructuring efforts.
The Debtor disclosed $26,159,064 in assets and $26,120,989 in
liabilities as of the Chapter 11 filing.  The petition was signed
by Edward E. Wilczewski, manager.


WEB.COM GROUP: S&P Revises Outlook to Pos. & Affirms 'B' CCR
------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Jacksonville, Fla.-based Web.com Group Inc. to positive from
stable.  S&P affirmed its 'B' corporate credit rating on the
company.

In addition, S&P raised the issue-level rating on the company's
$419 million first-lien term loan and $70 million revolving credit
facility to 'B+' (one notch above the 'B' corporate credit
rating).  S&P revised the recovery rating on this debt to '2' from
'3', indicating its expectation of substantial (70% to 90%)
recovery for lenders in the event of a payment default.

"The outlook revision reflects the potential for an upgrade over
the coming 12 months if the company's organic revenue and
subscriber base continue to grow, its operating performance
remains strong, and its credit measures continue to improve," said
Standard & Poor's credit analyst Elton Cerda.

Standard & Poor's Ratings Services' corporate credit rating
reflect S&P's expectation that Jacksonville, Fla.-based Web.com
Group Inc. will generate positive discretionary cash flow and
steadily reduce debt, absent a releveraging transaction.  S&P
expects debt leverage to decline, consistent with its expectation
of EBITDA growth, and that Web.com will use positive discretionary
cash flow in part to repay debt.  S&P assess Web.com's business
risk profile as "weak," because of tough competition among Web
services providers for small and midsize business marketing
spending.  S&P views the financial risk profile as "highly
leveraged" based on Web.com's high lease-adjusted debt to EBITDA
in the mid-7x area on a GAAP basis, consistent with the indicative
ratio of 5x or greater that S&P associates with a highly leveraged
financial risk profile, based on its criteria.  In S&P's
assessment, the management and governance score for the company is
"fair".

"Our positive rating outlook reflects our view that Web.com Group
Inc. should generate positive discretionary cash flow and
gradually reduce its GAAP leverage to the mid-6x or lower area in
2014, without a releveraging transaction.  Any upgrade would
likely entail an improvement in the EBITDA margin as a result of
market share gains in businesses other than domain name
registration, and further upselling and cross-selling activity
while maintaining consistent positive discretionary cash flow.
Additional elements of an upgrade scenario likely would be the
ratio of discretionary cash flow to debt approaching the midteens
area on a sustained basis.  We could revise our outlook to stable
if Web.com encounters tougher price competition or if market share
losses begin, possibly as a result of increased competition,
causing discretionary cash flow to go below $50 million and
leverage to trend higher," S&P noted.


WEST AIRPORT: Gets Final OK to Hire James Schwitalla as Counsel
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida
approved, on a final basis, James Schwitalla, Esq., at Law Offices
of James Schwitalia, as the Debtor's general counsel.

Headquartered in Miami, Florida, West Airport Palms Business Park,
LLC, filed for Chapter 11 (Bankr. S.D. Fla. Case No. 13-25728) on
July 2, 2013.  Judge Robert A. Mark presides over the case.  James
Schwitalla, Esq., represents the Debtor as counsel.  In its
petition, the Debtor scheduled assets of $14,440,419 and
liabilities of $9,284,422.  The petition was signed by Alexander
Montero, managing member.


WEST AIRPORT: Obtains Final OK for Luis Perez as Accountant
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida
approved, on a final basis, the employment of Luis Perez and BPA
Accounting Services, Inc., as its accountant, nunc pro tunc to the
Petition Date.

Headquartered in Miami, Florida, West Airport Palms Business Park,
LLC, filed for Chapter 11 (Bankr. S.D. Fla. Case No. 13-25728) on
July 2, 2013.  Judge Robert A. Mark presides over the case.  James
Schwitalla, Esq., represents the Debtor as counsel.  In its
petition, the Debtor scheduled assets of $14,440,419 and
liabilities of $9,284,422.  The petition was signed by Alexander
Montero, managing member.


WESTERN CAPITAL: Seeks Extension of Plan Filing Until Dec. 6
------------------------------------------------------------
Western Capital Partners LLC asks the Bankruptcy Court to extend
its deadline to exclusively file a plan of reorganization through
Dec. 6, 2013.  The Debtor also requests that the Court extend the
period within which to solicit acceptances of that Plan for an
additional 120 days.

The Debtor alleges that an extension of 120 days of the exclusive
period will not unduly delay the administration of its Chapter 11
bankruptcy proceeding.  Indeed, the Debtor maintains, the
extension will assist it in its efforts to reorganize under
Chapter 11 of the Bankruptcy Code and with respect to its ongoing
business operations.

Prior to the Petition Date, the Debtor pursued recovery of
guarantees made by Edra Blixseth in connection with one of its
largest loans.  This process ultimately entangled the Debtor in
currently ongoing bankrutpcy proceedings in Montana related to a
large project commonly known as the Yellowstone Club.  In
addition, the Debtor is involved in a litigation in Chicago
involving a foreclosure proceeding as well as an appeal before the
7th Circuit Court of Appeals.

The Debtor asserts the requested extension is necessary in order
to allow it to continue to pursue its litigation matters and to
assess the impact of that litigation on its proposed Plan.

Since the Petition Date, the Debtor has likewise been involved in
numerous employee issues which has subsumed a great deal of time
and effort on the Debtor's part.

Western Capital Partners LLC filed a bare-bones Chapter 11
petition (Bankr. D. Col. Case No. 13-15760) in Denver on April 10,
2013.  The Englewood-based company estimated assets and debt of
$10 million to $50 million.  Judge Michael E. Romero presides over
the case.  The Debtor is represented by Jeffrey A. Weinman, Esq.,
at Weinman & Associates, P.C.


WESTERN CAPITAL: Limits Hatch Ray's Services to Three Matters
-------------------------------------------------------------
Western Capital Partners LLC sought and obtained approval from the
Bankruptcy Court of an amended application to employ Hatch Ray
Olsen Sandberg LLC as its special counsel.  Hatch Ray's
representation is limited in three matters on which it has long
represented the Debtor, to wit: the Sandoval Matter; (b) the
Samson Appeal and any remand proceedings; and (c) the CTI Appeal
and any remand proceedings.

The Sandoval Matter

Through one of the foreclosures, the Debtor obtained Edra D.
Blixseth's interest in a contract made in favor of Blixseth by an
individual named Michael Sandoval and his related entities.  As
Blixseth's successor-in-interest, the Debtor sought enforcement of
the contract and anticipated receiving a judgement against
Sandoval in excess of $10 million.  Hatch Ray continues to be
counsel of record in that Adversary Proceeding in the Montana
Court (Adv. No.09-105).

The Samson Appeal and Any Remand Proceedings

After his challenge to the Debtor's foreclosures was rejected due
to his failure to comply with Section 362(h), disputed creditor
Richard J. Samson, trustee for the Estate of Edra D. Blixseth,
initiated an adversary proceeding in the Montana Court claiming
that Blixseth's guaranty of the Story Mill Loan constituted
fraudulent transfer.  On March 18, 2013, the Montana Court entered
judgment in favor of Mr. Samson and against the Debtor.  Hatch Ray
has already filed a notice of appeal on behalf of the Debtor.

The CTI Appeal

Hatch Ray's representation of the Debtor in connection with
collection efforts and loan workouts has included a matter
involving borrowers in Chicago, Illinois, area.  The loan was made
in 2005 and has been in default since 2007.  As part of its
collection efforts, the Debtor has retained Schiff Hardin LLP to
foreclose a mortgage and defend claims asserted by the so-called
Ridgeland Parties, who dispute the enforceability of the mortgage
and claim equity interest in the subject real estate.

In connection with the Foreclosure Action, the Debtor submitted a
claim to its title insurer, Chicago Title Insurance Company.  CTI
initially refused to defend the Debtor in full, prompting coverage
dispute litigation in the United States District Court for the
Northern District of Illinois.  On June 10, 2012, Hatch Ray
obtained a favorable ruling on summary judgment in that case.  The
ruling subsequently formed the basis for a judgment in the
Debtor's favor in approximate amount of $706,000.  CTI has
appealed to the United State Court of Appeals, Seventh Circuit.

                        About Western Capital

Western Capital Partners LLC filed a bare-bones Chapter 11
petition (Bankr. D. Col. Case No. 13-15760) in Denver on April 10,
2013.  The Englewood-based company estimated assets and debt of
$10 million to $50 million.  Judge Michael E. Romero presides over
the case.  The Debtor is represented by Jeffrey A. Weinman, Esq.,
at Weinman & Associates, P.C.


WESTERN CAPITAL: Court OKs K. Madden as "JRG Dakota" Case Counsel
-----------------------------------------------------------------
Western Capital Partners LLC sought and obtained the Bankruptcy
Court's permission to employ Kevin Madden and the Law offices of
Kevin Michael Madden, PLLC, as its special counsel.  Mr. Madden
will represent the Debtor in connection with pending litigation in
26th Judicial District Court of Williamson County, Texas, Case No.
10-088-C26, styled as Western Capital Partners LLC v. JRG Dakota
LLC, Jetco Retail Group, L.P., Jetco Development Group and Joseph
E. Thompson.

Mr. Madden's standard and customary hourly billing rate is $250
per hour.  Other attorneys of the firm that may be working on this
matter have a billing rate of $200 per hour.  The paralegal rate
is $150 per hour.

Western Capital Partners LLC filed a bare-bones Chapter 11
petition (Bankr. D. Col. Case No. 13-15760) in Denver on April 10,
2013.  The Englewood-based company estimated assets and debt of
$10 million to $50 million.  Judge Michael E. Romero presides over
the case.  The Debtor is represented by Jeffrey A. Weinman, Esq.,
at Weinman & Associates, P.C.


WESTERN CAPITAL: Taps K. Strauss as Counsel in Foreclosure Case
---------------------------------------------------------------
Western Capital Partners LLC seeks the Bankruptcy Court's
permission to employ Strauss & Malk LLP, 135 Revere Drive,
Northbrook, IL, as its special counsel.  Strauss & Malk will
represent the Debtor in litigation including, but not limited to,
currently pending foreclosure case in the Circuit Court of Cook
County, Illinois.

The firm had a pre-petition claim for $1,500, which it has agreed
to waive.

Western Capital Partners LLC filed a bare-bones Chapter 11
petition (Bankr. D. Col. Case No. 13-15760) in Denver on April 10,
2013.  The Englewood-based company estimated assets and debt of
$10 million to $50 million.  Judge Michael E. Romero presides over
the case.  The Debtor is represented by Jeffrey A. Weinman, Esq.,
at Weinman & Associates, P.C.


WOUND MANAGEMENT: Incurs $32,000 Net Loss in Second Quarter
-----------------------------------------------------------
Wound Management Technologies, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing a net loss of $32,336 on $415,693 of revenues for
the three months ended June 30, 2013, as compared with a net loss
of $29,650 on $269,813 of revenues for the same period during the
prior year.

For the six months ended June 30, 2013, the Company incurred a net
loss of $974,601 on $790,417 of revenues, as compared with net
income of $257,855 on $373,946 of revenues for the same period a
year ago.

Wound Management disclosed a net loss of $1.84 million on $1.17
million of revenue for the year ended Dec. 31, 2012, as compared
with a net loss of $12.74 million on $2.21 million of revenue
during the prior year.

The Company's balance sheet at June 30, 2013, showed $1.37 million
in total assets, $5.45 million in total liabilities and a $4.07
million total stockholders' deficit.

A copy of the Form 10-Q is available for free at:

                        http://is.gd/xqrx2I

                       About Wound Management

Fort Worth, Texas-based Wound Management Technologies, Inc.,
markets and sells the patented CellerateRX(R) product in the
expanding advanced wound care market; particularly with respect to
diabetic wound applications.

Pritchett, Siler & Hardy, P.C., in Salt Lake City, Utah, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company has incurred substantial losses
and has a working capital deficit which factors raise substantial
doubt about the ability of the Company to continue as a going
concern.


* 6th Circ. Says Rejection of Ch. 11 Plan Isn't Final Order
-----------------------------------------------------------
Law360 reported that in a growing circuit split, the Sixth Circuit
ruled that circuit courts do not have jurisdiction to review a
district court's rejection of a reorganization plan because it is
not a final judgment.

According to the report, the precedent-setting opinion sides with
four circuits but opposes three others in its interpretation of
"final judgments, orders and decrees," the language Congress used
to define the types of lower court actions that are reviewable.

The three-judge panel ruled that a district court's rejection of a
plan lacks finality, the report related.



* Fed Given Week by Judge to Respond on New Swipe-Fee Rules
-----------------------------------------------------------
Tom Schoenberg, writing for Bloomberg News, reported that the U.S.
Federal Reserve was given a week to tell a federal judge its
position on immediately rewriting regulations setting debit card
swipe fees in the wake of a court found the current rule unlawful.

According to the report, U.S. District Judge Richard Leon in
Washington on Aug. 15 ordered Fed General Counsel Scott Alvarez to
appear in his courtroom on Aug. 21 after a lawyer for the Fed said
it hadn't made any decisions on how to replace the current rule,
or whether to appeal the judge's ruling.

"They've had their briefings," Leon said. "They know what the
state of play is. It's time to make decisions."

Earlier in the hearing, Leon laid out a timeline that would put a
final interim rule in place by the end of the month. An interim
final rule takes effect immediately before any public comments are
accepted.

The hearing comes two weeks after retailers battling banks over
debit-card transaction costs were handed a victory by Leon in
Washington, who said merchants were overcharged billions of
dollars under an unlawful swipe fee set by the Fed.


* U.S. Judges Urge Congress to Give Courts More Money
-----------------------------------------------------
Mark Sherman, writing for the Associated Press, reported that top
federal judges in 49 states are urging lawmakers to avoid another
round of automatic spending cuts that would have a "devastating
and long-lasting impact" on the federal courts.

According to the report, it's an unusual letter from the chief
judges of trial courts in every state but Nevada. It says that the
$350 million reduction in the judiciary's budget for the current
year has dramatically slowed court proceedings and put public
safety at risk. The judges say there are fewer probation and other
law enforcement officers to deal with record numbers of convicts
who have been released from prison or given alternative sentences.

The letter was sent last week to congressional leaders in both
parties in the House and Senate, the report related. Congress is
not in session in August.

"We had to let people know that we've cut so far past the fat and
so far past the muscle that we're into the bone," Chief Judge
Loretta Preska of the U.S. District Court in Manhattan said in an
interview with AP.  Preska, an appointee of President George H.W.
Bush, helped organize support for the letter.

A second year under the automatic spending cuts known as
sequestration "will have a devastating and long-lasting impact on
the administration of justice in this country," the judges said,
the report further related.


* NYC Gets Nod From State to Address Hospital Crisis
----------------------------------------------------
Law360 reported that as New York City faces high-profile hospital
closures and bankruptcies, the City Council said that state
officials have joined an effort to address the "loss of critical
hospital services" even as top officials press for an infusion of
up to $10 billion from Medicaid.

According to the report, City Council Speaker Christine C. Quinn
said she had secured agreement from New York State Health
Commissioner Dr. Nirav R. Shah to have the New York State
Department of Health participate in the effort.


* Hill Wallack Accused of Forcing Client Into Bad Settlement
------------------------------------------------------------
Law360 reported that New Jersey law firm Hill Wallack LLP has been
hit with a legal malpractice suit brought by a former client who
says he was forced to accept a low-ball settlement from an ex-
business partner, then couldn't collect it after the defendant
filed for bankruptcy.

According to the report, William Torre of Princeton, N.J., sued
Hill Wallack and two of its attorneys, Eric Abraham and Todd
Greene, on Aug. 7.  Abraham and Greene represented Torre in a
civil suit against Torre's onetime business partner Douglas Huhn,
the report related.


* Ex-Taylor English Atty Admits to Ripping Off Clients
------------------------------------------------------
Law360 reported that a former Taylor English Duma LLP attorney
pled guilty in Georgia federal court to charges of defrauding his
one-time employer and a group of real estate clients in a
bankruptcy suit of $300,000.

According to the report, Thomas W. Dickson admitted to scheming to
wire the funds, which had been held in trust by the firm for a
group of tenancy-in-common investors that he was representing, to
a personal bank checking account held by Dickson and his wife. He
faces a criminal charge of wire fraud, the report said.


* JPMorgan Said to Expect Multiple Fines for Whale Loss
-------------------------------------------------------
Dawn Kopecki, Dave Michaels & Keri Geiger, writing for Bloomberg
News, reported that JPMorgan Chase & Co. expects to be fined by
authorities in the U.S. and U.K. over last year's $6.2 billion
trading loss, which led to criminal charges against two former
employees, said a person familiar with the matter.

According to the report, the Securities and Exchange Commission
signaled in a complaint filed on Aug. 14 against Javier Martin-
Artajo, 49, and Julien Grout, 35, that the New York-based bank
will be held accountable for providing inaccurate information to
investors after the two men "fraudulently" mismarked their trades
to conceal losses.

"JPMorgan failed to furnish to the commission, in accordance with
the rules and regulations prescribed by the commission, such
financial reports as the commission has prescribed," the SEC wrote
in its complaint, the report related.  SEC spokesman John Nester
didn't return a call seeking comment.

The bank also expects to be fined by the Department of Justice,
the Commodity Futures Trading Commission and the U.K.'s Financial
Conduct Authority, said the person, who asked not to be named
because the discussions are private, the report further related.

JPMorgan Chief Executive Officer Jamie Dimon, 57, said in his
April letter to shareholders that the bank was facing more
sanctions related to the losses, the report added.  Bruno Iksil,
the Frenchman dubbed the "London Whale" because his trading
portfolio grew so large, is cooperating with the U.S. government.


* Obama to Meet with Regulators over Wall Street Reforms
--------------------------------------------------------
Sarah N. Lynch, writing for Reuters, reported that President
Barack Obama will sit down on Monday with the leading U.S.
financial market regulators to discuss their progress in
implementing the 2010 Wall Street reform law, the White House
said.

According to the report, The Dodd-Frank law was passed by the
then-Democratic-controlled Congress with Obama's support as a
response to the 2007-2009 financial crisis. It aims to prevent
large, complex financial firms from imperiling markets should they
collapse.

It imposed new rules for over-the-counter derivatives, required
banks to hold more capital, established a new federal agency
charged with protecting consumers from predatory lending and laid
out a series of reforms targeting numerous other financial firms,
such as hedge funds and private equity funds, the report related.

The White House said it expects the heads of the Securities and
Exchange Commission, Commodity Futures Trading Commission,
Consumer Financial Protection Bureau, U.S. Federal Reserve, Office
of the Comptroller of the Currency, Federal Deposit Insurance
Corp, Federal Housing Finance Agency and the National Credit Union
Administration to attend the meeting, the report related.

Treasury Secretary Jack Lew will also participate, the Treasury
Department said, the report added.


* SEC Approves $8-Billion Sale of NYSE Parent to ICE
----------------------------------------------------
Marcy Gordon, writing for the Associated Press, reported that U.S.
regulators have approved the proposed $8 billion sale of the
venerable New York Stock Exchange to a much younger futures
exchange. The deal is a symbol of how financial markets are being
increasingly reshaped by high technology.

According to the report, the Securities and Exchange Commission
disclosed that it authorized the takeover of the two-centuries-old
NYSE's parent by Atlanta-based IntercontinentalExchange, or ICE.
The rival acquiring company, founded in 2000, has expanded rapidly
through acquisitions over the past decade.

The SEC said in a filing that it determined that the merger of the
exchanges would comply with securities laws and regulations, the
report related.

The merger also must be approved by regulators in Europe, the
report said.  The NYSE's parent is NYSE Euronext, which includes
stock exchanges in Europe. The European Commission, the executive
body of the 28-nation European Union, gave its approval in June.

The deal is expected to close in the fall, the report further
related.


* Falcone and Harbinger Agree to Settlement With SEC
----------------------------------------------------
The Securities and Exchange Commission said New York-based hedge
fund adviser Philip A. Falcone and his advisory firm Harbinger
Capital Partners have agreed to a settlement in which they must
pay more than $18 million and admit wrongdoing.  Falcone also
agreed to be barred from the securities industry for at least five
years.

The SEC filed enforcement actions in June 2012 alleging that
Falcone improperly used $113 million in fund assets to pay his
personal taxes, secretly favored certain customer redemption
requests at the expense of other investors, and conducted an
improper "short squeeze" in bonds issued by a Canadian
manufacturing company.  In the settlement papers filed in court
today, Falcone and Harbinger admit to multiple acts of misconduct
that harmed investors and interfered with the normal functioning
of the securities markets.

"Falcone and Harbinger engaged in serious misconduct that harmed
investors, and their admissions leave no doubt that they violated
the federal securities laws," said Andrew Ceresney, Co-Director of
the SEC's Division of Enforcement.  "Falcone must now pay a heavy
price for his misconduct by surrendering millions of dollars and
being barred from the hedge fund industry."

The settlement, which must be approved by the U.S. District Court
for the Southern District of New York, requires Falcone to pay
$6,507,574 in disgorgement, $1,013,140 in prejudgment interest,
and a $4 million penalty.  The Harbinger entities are required to
pay a $6.5 million penalty.  Falcone has consented to the entry of
a judgment barring him from association with any broker, dealer,
investment adviser, municipal securities dealer, municipal
advisor, transfer agent, or nationally recognized statistical
rating organization with a right to reapply after five years.  The
bar will allow him to assist with the liquidation of his hedge
funds under the supervision of an independent monitor.

Among the set of facts that Falcone and Harbinger admitted to in
settlement papers filed with the court:

    Falcone improperly borrowed $113.2 million from the Harbinger
Capital Partners Special Situations Fund (SSF) at an interest rate
less than SSF was paying to borrow money, to pay his personal tax
obligation, at a time when Falcone had barred other SSF investors
from making redemptions, and did not disclose the loan to
investors for approximately five months.

    Falcone and Harbinger granted favorable redemption and
liquidity terms to certain large investors in HCP Fund I, and did
not disclose certain of these arrangements to the fund's board of
directors and the other fund investors.

    During the summer of 2006, Falcone heard rumors that a
Financial Services Firm was shorting the bonds of the Canadian
manufacturer, and encouraging its customers to do the same.

    In September and October 2006, Falcone retaliated against the
Financial Services Firm for shorting the bonds by causing the
Harbinger funds to purchase all of the remaining outstanding bonds
in the open market.

    Falcone and the other Defendants then demanded that the
Financial Services Firm settle its outstanding transactions in the
bonds and deliver the bonds that it owed.  Defendants did not
disclose at the time that it would be virtually impossible for the
Financial Services Firm to acquire any bonds to deliver, as nearly
the entire supply was locked up in the Harbinger funds' custodial
account and the Harbinger funds were not offering them for sale.

    Due to Falcone's and the other Defendants' improper
interference with the normal interplay of supply and demand in the
bonds, the bonds more than doubled in price during this period.

The SEC's investigation was conducted by Conway T. Dodge, Jr.,
Robert C. Besse, Ken C. Joseph, Mark Salzberg, Brian Fitzpatrick,
and David Stoelting.  The SEC's litigation was handled by Mr.
Stoelting, Mr. Besse, Mr. Salzberg, Kevin McGrath, David J.
Gottesman, and Bridget Fitzpatrick.


* Justice Dept. Wants Ruling Ordering Bernanke to Testify Tossed
----------------------------------------------------------------
Victoria McGrane and Leslie Scism, writing for The Wall Street
Journal, reported that the Justice Department asked a federal
appeals court to throw out a ruling directing Federal Reserve
Chairman Ben Bernanke to testify under oath about the government's
2008 decision to bail out American International Group Inc.

According to the report, the government asked the U.S. Court of
Appeals for the Federal Circuit to overturn a July decision by
U.S. Court of Federal Claims Judge Thomas C. Wheeler that Mr.
Bernanke submit to a deposition in the case, which is being
brought by Starr International Co., run by former AIG Chief
Executive Maurice "Hank" Greenberg.

Judge Wheeler ruled that Mr. Bernanke's close involvement in the
decision to bail out AIG at the height of the financial crisis
warranted his testimony and made it unlikely other officials could
provide the same information, the report said.  The department
challenged that finding in its appeal, arguing that neither Judge
Wheeler nor Starr have shown that other sources would not suffice.

"The trial court identified no extraordinary circumstances that
would justify requiring Chairman Bernanke to set aside his public
responsibilities and appear for a deposition in this litigation,"
Justice said, the report related.

Lawyers for Starr failed to prove "why any conceivably relevant
information could not be obtained from other sources," the Justice
Department argued, the report further related.  The plaintiff has
already obtained testimony from other Fed witnesses, including Fed
general counsel Scott Alvarez, as well as U.S. Treasury and New
York Fed officials, Justice said. The plaintiff's lawyers are also
scheduled to depose former Fed Vice Chairman Donald Kohn, "who,
like Chairman Bernanke, participated in the Board vote to approve
the AIG rescue loan," Justice said.


* Fed Says It Will Collect $440 Million in Fees from Banks
----------------------------------------------------------
The Associated Press reported that the Federal Reserve says it
expects to collect $440 million in fees from 70 big banks and
other financial firms to help cover its costs of supervising them.

According to the report, the Fed provided the estimate in
announcing it had completed a rule providing for the annual fees.
The fees are intended to help defray the costs of expanded
regulation, which the Fed gained under the 2010 financial overhaul
law.

The payments for 2012 are due by Dec. 15, the Fed says, the report
related.  They apply to the largest banks with operations in the
United States and nonbank financial firms that have been deemed as
potentially threatening the stability of the financial system.
Regulators last month classified the American International Group
and GE Capital as falling into that category.


* Reno-Sparks Metro Foreclosure Activity Plunges 33% in July 2013
-----------------------------------------------------------------
RealtyTrac(R) on Aug. 16 released a July 2013 Foreclosure Market
Report(TM) for the Reno-Sparks metropolitan statistical area,
which shows foreclosure filings -- default notices, scheduled
auctions and bank repossessions -- were reported on 110 properties
in July in the metro area, a decrease of 33 percent from June 2013
and down 69 percent from July 2012.

The decrease in Reno-Sparks overall foreclosure activity was
driven by a sharp drop in Notices of Default (NOD) and scheduled
foreclosure auctions (NTS).  Notices of Default dropped 46 percent
from June to July, with only 13 NODs in the metro area during the
month -- down 93 percent from July 2012.  July was the second
straight month where NODs decreased annually following six
straight months where NODs were rebounding annually.

"New state legislation has slowed down the foreclosure process in
Nevada once again," said Craig King, chief operating officer of
Reno-based real estate brokerage Chase International.  "Attorneys,
Realtors, buyers, lenders, title companies and others are sorting
through the new laws, which could take some time to decipher.

"We're well past the worst of the foreclosure crisis in Reno, but
the rapidly changing laws are making it more difficult to clear
out the distressed properties that are still hanging around,"
Mr. King continued.  "The irony is that now would be a great time
to sell those distressed properties given the low inventory of
homes for sale now available."

Mr. King said the decrease in July foreclosure activity was
largely due to the changes made to the foreclosure process by two
conflicting pieces of legislation recently passed by the state
legislature and signed into law by the governor.  One piece of
legislation, Assembly Bill 300, was written to ease up some of the
requirements put on foreclosing lenders by another state law
passed back in October 2011, AB 284. AB 300 modified the strict
documentation standards of AB 284 by clarifying the language and
changing documentation requirements.

The other piece of legislation SB 321 -- known as the "Homeowner
Bill of Rights -- makes it more difficult for banks to foreclose
in Nevada and will go into effect Oct. 1.  This legislation
outlaws the practice of dual-tracking -- where a lender
simultaneously pursues foreclosure and a foreclosure alternative
such as loan modification -- and requires lenders to provide
homeowners facing foreclosure with a single point of contact.  In
addition, SB 321 requires lenders to send homeowners facing
foreclosure a notice with information about foreclosure
alternatives at least 30 days before filing a Notice of Default.

He added that the market still has several years to clear out the
huge number of Nevada mortgages that are underwater, where
borrowers owe more on the mortgage than the property is worth.  He
said strong demand and a decline in inventory combined to create
double-digit price appreciation in the Northern Nevada.

"Clearly, the Reno-Sparks housing market is improving," added
Mr. King.  "Sales prices are up, land values are rising and new
home construction is growing.  I'm very optimistic about the local
residential real estate market."

Falling foreclosure activity in July pushed the foreclosure rate
in the Reno-Sparks metro area below the national average and to
the 141st ranking out of the 209 metro areas with a population of
200,000 or more.  One in every 1,686 Reno-Sparks housing units had
a foreclosure filing in July, compared to the national average of
one in 1,001 housing units.

Nevada's housing market is on a rebound, said Mr. King.  Statewide
foreclosure activity declined 44 percent year-over-year in July,
with one in every 731 housing units receiving a foreclosure
notice.  The state ranked seventh highest nationwide in
foreclosure rate.

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of
the total number of properties with at least one foreclosure
filing entered into the RealtyTrac database during the month --
broken out by type of filing.  Some foreclosure filings entered
into the database during the month may have been recorded in
previous months.  Data is collected from more than 2,200 counties
nationwide, and those counties account for more than 90 percent of
the U.S. population.  RealtyTrac's report incorporates documents
filed in all three phases of foreclosure: Default - Notice of
Default (NOD) and Lis Pendens (LIS); Auction - Notice of Trustee's
Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate
Owned, or REO properties (that have been foreclosed on and
repurchased by a bank).  The report does not count a property
again if it receives the same type of foreclosure filing multiple
times within the estimated foreclosure timeframe for the state
where the property is located.

                       About RealtyTrac Inc.

RealtyTrac -- http://www.realtytrac.com-- is a supplier of U.S.
real estate data, with more than 1.5 million active default,
foreclosure auction and bank-owned properties, and more than 1
million active for-sale listings on its website, which also
provides essential housing information for more than 100 million
homes nationwide.  This information includes property
characteristics, tax assessor records, bankruptcy status and sales
history, along with 20 categories of key housing-related facts
provided by RealtyTrac's wholly-owned subsidiary, Homefacts(R).
RealtyTrac's foreclosure reports and other housing data are relied
on by the Federal Reserve, U.S. Treasury Department, HUD, numerous
state housing and banking departments, investment funds as well as
millions of real estate professionals and consumers, to help
evaluate housing trends and make informed decisions about real
estate.


* Roetzel's Bruce Schrader Named Bankruptcy Lawyer of the Year
--------------------------------------------------------------
Roetzel Roetzel on Aug. 15 disclosed that five of its Ohio
attorneys, Susan S. Box, Steven Cox, Edward C. Hertenstein, Brian
J. Moore and Bruce R. Schrader II, have been named a Best
Lawyers(R) 2014 "Lawyer of the Year."

Only one lawyer in each practice area from each of the major
metropolitan areas in Ohio is honored as "Lawyer of the Year."
Best Lawyers compiles its lists of outstanding attorneys by
conducting thousands of confidential peer-review surveys.  Lawyers
honored as "Lawyers of the Year" have received particularly high
ratings by earning a high level of respect among their peers for
their abilities, professionalism and integrity.

Ms. Box, named the Best Lawyers 2014 Akron Product Liability
Litigation - Defendants "Lawyer of the Year," is a Partner in
Roetzel's Products & Toxic Tort Practice Group.  She focuses her
practice on product liability defense and regularly represents
local, regional and national clients on matters involving asbestos
litigation, toxic tort litigation and other general product
liability matters.  Ms. Box has a long list of accomplishments in
addition to being named "Lawyer of the Year."  She is rated an
AV(R) Preeminent(TM) lawyer by Martindale-Hubbell Law Directory,
is named to The Best Lawyers in America(C) for Mass Tort
Litigation/Class Actions - Defendants and Product Liability
Litigation - Defendants (2009-2014) and has been selected as an
"Ohio Super Lawyer" by Ohio Super Lawyers magazine (2010-2013).
In addition, she is noted as both one of the "Top 50 Female
Lawyers in Ohio" and as one of the "Top 25 Female Lawyers in
Cleveland" by Ohio Super Lawyers magazine (2013).

Mr. Cox, a Partner in the firm's Akron office, has been named the
2014 Akron "Lawyer of the Year" for Litigation - Trusts & Estates.
He focuses his practice on estate planning, probate matters,
estate and trust administration, family business succession
planning, business and tax matters, and charitable
planning/nonprofit organizations.  Mr. Cox represents individual
clients, including business owners and executives, and business
entities in a wide range of estate, tax, and succession planning
matters.  He has been named a Best Lawyer for Trusts & Estates
work every year since 2007 and for Litigation - Trusts & Estates
since 2012.

Mr. Hertenstein is a Partner in the firm's Columbus office and has
been named the 2014 Columbus "Lawyer of the Year" for Tax Law.
His practice focuses on a variety of business and taxation issues,
including succession planning, trust, LLC and partnership
strategies, value-based planning, leveraged wealth transfer
planning, and charitable planning.  His clients include executives
of public companies, closely held and emerging businesses,
individuals and family councils, and charitable entities.
Mr. Hertenstein is certified as a Specialist in Federal Taxation
by the Ohio State Bar Association.  In addition to his selection
as a Best Lawyers 2014 "Lawyer of the Year for Tax Law,"
Mr. Hertenstein was chosen as Best Lawyers 2011 "Lawyer of the
Year for Trusts and Estates," has been chosen as an "Ohio Super
Lawyer" by Ohio Super Lawyers magazine (2004-2013), and has been
named to The Best Lawyers in America(C) for Tax Law, and Trusts
and Estates (1995-2014).  Further, he holds an AV(R)
Preeminent(TM) rating from the Martindale-Hubbell Law Directory.

Mr. Moore is a Partner and Practice Group Manager for Real Estate,
Banking & Finance.  He is named as the Akron Real Estate Law
"Lawyer of the Year" for 2014.  Mr. Moore was previously named as
the Akron "Lawyer of the Year" for Real Estate Law in 2009 and in
Banking and Finance Law in 2012.  Mr. Moore focuses his practice
on real estate, land use, construction law and financial services,
including conveyancing, development, land use, zoning, eminent
domain, construction documents, leasing, finance and loan
documentation. He has represented various key parties in a number
of high profile real estate transactions.  In addition to his real
estate skills, Mr. Moore has extensive experience in drafting and
negotiating loan documentation as counsel to lenders and
borrowers.  In addition to being named "Lawyer of the Year,"
Mr. Moore has been selected as an "Ohio Super Lawyer" by Ohio
Super Lawyers magazine (2004-2013) and carries an AV(R)
Preeminent(TM) rating from Martindale-Hubbell Law Directory.

Mr. Schrader is a partner in the firm's Akron office and has been
named the Best Lawyers 2014 Akron Litigation - Bankruptcy "Lawyer
of the Year."  He focuses his practice in the areas of banking,
financial services, commercial litigation and bankruptcy matters.
Mr. Schrader has extensive experience in bankruptcy and
reorganization proceedings.  His clients include financial
institutions, creditors, receivers and trustees.  Mr. Schrader has
been selected as an "Ohio Super Lawyer" by Ohio Super Lawyers
magazine (2012 & 2013) and has been included as one of The Best
Lawyers in America(C) for Bankruptcy and Creditor Debtor
Rights/Insolvency and Reorganization Law (2010-2014) and
Litigation - Bankruptcy (2014).  He holds an AV(R) Preeminent(TM)
rating from Martindale-Hubbell Law Directory.

                        About Best Lawyers

Since it was first published in 1983, Best Lawyers(R) has become
universally regarded as the definitive guide to legal excellence.
Because Best Lawyers is based on an exhaustive peer-review survey
in which almost 50,000 leading attorneys cast nearly five million
votes on the legal abilities of other lawyers in their practice
areas, and because lawyers are not required or allowed to pay a
fee to be listed, inclusion in Best Lawyers is considered a
singular honor. (The Best Lawyers in America(C) 2014. Copyright
2013 by Woodward/White, Inc., of Aiken, SC). For more information,
visit bestlawyers.com.

                       About Roetzel Roetzel

Roetzel Roetzel -- http://ralaw.com-- is a full-service law firm
that provides comprehensive, integrated legal counsel to national
and international clients.


* U.S. Foreclosure Activity Up 2% in July, RealtyTrac Data Show
---------------------------------------------------------------
RealtyTrac(R), a source for comprehensive housing data, on Aug. 15
released its U.S. Foreclosure Market Report(TM) for July 2013,
which shows foreclosure filings -- default notices, scheduled
auctions and bank repossessions -- were reported on 130,888 U.S.
properties in July, an increase of 2 percent from the 78-month low
in June but still down 32 percent from July 2012. The report also
shows one in every 1,001 U.S. housing units with a foreclosure
filing during the month.

High-level findings from the report:

        --  The monthly increase in U.S. foreclosure activity was
driven by a 6  percent monthly increase in foreclosure starts and
a 4 percent monthly increase in bank repossessions (REO), although
both metrics decreased from a year ago.

        --  Foreclosure starts increased from the previous month
in 26 states and were up from a year ago in 15 states, including
Maryland (up 275 percent), Oregon (up 137 percent), New Jersey (up
89 percent), Connecticut (up 37 percent), and New York (up 27
percent).











        --  Bank repossessions increased from the previous month
in 29 states and were up from a year ago in 18 states, including
Arkansas (up 266 percent), Oklahoma (up 126 percent), Maryland (up
101 percent), New York (up 100 percent), Connecticut (up 67
percent), New Jersey (up 40 percent), and Ohio (up 20 percent).

        --  The top six state foreclosure rates in July were in
states with a judicial foreclosure process, although two of those
top six states posted decreasing foreclosure activity from a year
ago: Ohio (down 18 percent) and Illinois (down 44 percent).

        --  Arizona's foreclosure rate dropped out of the top 10
highest for the first time since February 2007, joining
California's foreclosure rate, which was out of the top 10 for the
sixth consecutive month in July, and Michigan's foreclosure rate,
which was out of the top 10 for the fifth consecutive month in
July.

        --  Nine of the nation's 10 highest metro foreclosure
rates in July were in Florida cities, and five of those nine
Florida cities posted increasing foreclosure activity from a year
ago.

        --  Among the nation's 20 largest metropolitan statistical
areas, 10 posted increasing foreclosure activity from the previous
month and  five posted increasing foreclosure activity from a year
ago: Baltimore (up 182 percent), Miami (up 58 percent), New York
(up 42 percent), Philadelphia (up 11 percent), and Washington,
D.C. (up 5 percent).

"While foreclosures are continuing to boil over in a select group
of markets where state legislation and court rulings kept a lid on
foreclosure activity during the worst of the housing crisis, the
foreclosure boil-over markets are becoming fewer and farther
between as lenders have caught up with the backlog of delayed
foreclosures in some of the states with the more lengthy judicial
foreclosure process," said Daren Blomquist, vice president of
RealtyTrac.  "For example, Illinois foreclosure activity has now
decreased on a year-over-year basis for eight consecutive months
following 11 straight months of annual increases, and Ohio has
seen three consecutive months with annual decreases following
eight straight months with annual increases.

"U.S. foreclosure activity in July is 64 percent below the peak of
more than 367,000 properties with foreclosure filings in March
2010, but is still 54 percent above the historical average of
85,000 properties with foreclosure filings per month before the
housing bubble burst in late 2006," Blomquist continued.  "There
are a dozen states, however, where foreclosure activity levels in
July were at or below average monthly levels prior to the bubble
bursting.  Those states include Texas, Colorado, Oklahoma, Indiana
and Michigan, and we expect the number of states in this category
to increase in the coming months."

Local broker quotes from the RealtyTrac Network

        --  "We continue to see positive signs of growth in the
Oklahoma housing market.  There are more investors looking to buy
REOs in the Oklahoma City and Tulsa markets than we've ever seen,"
said Sheldon Detrick, CEO of Prudential Detrick Realty/Prudential
Alliance Realty in Tulsa and Oklahoma City, Okla.  "The supply of
available REO properties is nowhere near the level of demand, so
it's becoming common place to receive multiple offers and to sell
REOs over the listing price."

        --  "More and more homes are now coming on the market from
non-distressed homeowners thanks to the snap back in pricing that
homeowners have experienced over the past 12 months or so," said
Rich Cosner, CEO of Prudential California Realty, covering Orange,
Riverside and San Bernardino counties in Southern California.
"Because these prices moved up in favor of the homeowners, more
and more people are now putting their home on the market and over
time this will relieve the dire inventory shortage."

Florida, Maryland, Ohio post top state foreclosure rates Florida
posted the nation's highest state foreclosure rate for the third
consecutive month in July: one in every 328 housing units with a
foreclosure filing during the month -- more than three times the
national average.  Florida foreclosure activity increased 8
percent from the previous month and was up 7 percent from a year
ago.  Florida foreclosure activity has increased on an annual
basis in 16 of the last 19 months.  Florida foreclosure starts
decreased 28 percent from a year ago -- the fifth consecutive
month with an annual decrease in foreclosure starts -- but
scheduled foreclosure auctions increased 74 percent from a year
ago and bank repossessions increased 13 percent from a year ago.

Maryland documented the nation's second highest state foreclosure
rate in July -- the highest foreclosure rate ranking for the state
since RealtyTrac began issuing its report in January 2005.  A
total of 3,962 Maryland properties had foreclosure filings during
the month, an increase of 148 percent from a year ago and one in
every 598 housing units.  Maryland foreclosure starts increased
275 percent annually while scheduled auctions were up 96 percent
and bank repossessions were up 101 percent during the same time
period.  Including July, overall foreclosure activity in Maryland
has increased annually for 13 consecutive months.

Despite an 18 percent year-over-year decrease in foreclosure
activity in July, Ohio posted the nation's third highest state
foreclosure rate for the month: one in every 639 housing units
with a foreclosure filing.  Including July, Ohio foreclosure
activity has decreased annually for three consecutive months after
hitting a 33-month high in April.

A 33 percent monthly increase in foreclosure activity in July
helped boost Connecticut's foreclosure rate to fourth highest
nationwide -- the highest ranking for the state since it was at
No. 2 in April 2007.  A total of 2,247 Connecticut properties had
a foreclosure filing during the month, one in every 660 housing
units and a 46 percent increase from July 2012 -- the sixth
consecutive month with an annual increase in foreclosure activity.

Other states with foreclosure rates ranking among the 10 highest
nationwide were New Mexico (one in every 678 housing units with a
foreclosure filing), Illinois (one in every 682 housing units),
Nevada (one in every 731 housing units), Georgia (one in every 742
housing units), South Carolina (one in every 785 housing units),
and Utah (one in every 824 housing units).

Top metro foreclosure rates dominated by Florida cities With one
in every 230 housing units with a foreclosure filing in July,
Jacksonville, Fla., posted the nation's highest foreclosure rate
among metropolitan statistical areas with a population of 200,000
or more.  Foreclosure activity in the Jacksonville metro area
increased 19 percent from the previous month and was up 24 percent
from a year ago -- the ninth consecutive month where the metro has
reported an annual increase in foreclosure activity.

Eight other Florida cities posted foreclosure rates among the top
10 highest nationwide: Miami-Fort Lauderdale-Pompano Beach at No.
2 (one in every 250 housing units with a foreclosure filing); Port
St. Lucie at No. 3 (one in 256 housing units); Ocala at No. 4 (one
in every 294 housing units); Palm Bay-Melbourne-Titusville at No.
5 (one in every 296 housing units); Tampa-St. Petersburg-
Clearwater at No. 7 (one in 334 housing units); Orlando-Kissimmee
at No. 8 (one in 344 housing units); Pensacola-Ferry Pass-Brent at
No. 9 (one in every 345 housing units); and Sarasota-Bradenton-
Venice at No. 10 (one in 394 housing units).

The only metro outside of Florida with a top 10 foreclosure rate
was Albuquerque, N.M., at No. 6 with one in every 331 housing
units with a foreclosure filing in July.

20 major metro foreclosure trends With one in every 250 housing
units with a foreclosure filing, Miami posted the highest
foreclosure rate among the nation's 20 largest metropolitan
statistical areas by population.  Miami was one of 10 markets
among the 20 largest to post a month-over-month increase in
foreclosure activity and one of five to post a year-over-year
increase in foreclosure activity.

                        Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of
the total number of properties with at least one foreclosure
filing entered into the RealtyTrac database during the month --
broken out by type of filing.  Some foreclosure filings entered
into the database during the month may have been recorded in
previous months.  Data is collected from more than 2,200 counties
nationwide, and those counties account for more than 90 percent of
the U.S. population.  RealtyTrac's report incorporates documents
filed in all three phases of foreclosure: Default -- Notice of
Default (NOD) and Lis Pendens (LIS); Auction -- Notice of
Trustee's Sale and Notice of Foreclosure Sale (NTS and NFS); and
Real Estate Owned, or REO properties (that have been foreclosed on
and repurchased by a bank).  The report does not count a property
again if it receives the same type of foreclosure filing multiple
times within the estimated foreclosure timeframe for the state
where the property is located.

                       About RealtyTrac Inc.

RealtyTrac -- http://www.realtytrac.com-- is a source of
comprehensive housing data, with more than 1.5 million active
default, foreclosure auction and bank-owned properties, and more
than 1 million active for-sale listings on its website, which also
provides essential housing information for more than 100 million
homes nationwide.  This information includes property
characteristics, tax assessor records, bankruptcy status and sales
history, along with 20 categories of key housing-related facts
provided by RealtyTrac's wholly-owned subsidiary, Homefacts(R).
RealtyTrac's foreclosure reports and other housing data are relied
on by the Federal Reserve, U.S. Treasury Department, HUD, numerous
state housing and banking departments, investment funds as well as
millions of real estate professionals and consumers, to help
evaluate housing trends and make informed decisions about real
estate.


* Manatt Bankruptcy Lawyer Ivan Kallick in 2014 Best Lawyers List
-----------------------------------------------------------------
Best Lawyers named 62 Manatt, Phelps & Phillips, LLP, attorneys to
its 2014 Best Lawyers in America list.  The annual list of leading
attorneys is based on a rigorous national peer-review survey
involving more than 4 million evaluations.

Representing a broad spectrum of 31 practice areas and expertise
from six of the firm's offices, Manatt's lawyers on the
prestigious list for 2014 include:

AlbanyJames W. Lytle Healthcare Law

Los Angeles Keith A. Allen-Niesen Real Estate Law

Gordon M. Bava Banking and Finance Law Corporate Law Financial
Services Regulation Law

Michael M. Berger Appellate Practice Eminent Domain and
Condemnation Law

Charles J. Biederman Entertainment Law - Motion Pictures and
Television Entertainment Law - Music

T. Hale Boggs III Banking and Finance Law Private Funds / Hedge
Funds Law

Alan M. Brunswick Employment Law - Management Entertainment Law -
Motion Pictures and Television Labor Law - Management Litigation -
Labor and Employment

Edward G. Burg Eminent Domain and Condemnation Law

Craig J. de Recat Commercial Litigation Litigation - Environmental

Blase P. Dillingham Corporate Law

Peter DuchesneauLitigation - Environmental

Gene R. Elerding Banking and Finance Law Financial Services
Regulation Law

Robert M. Eller Real Estate Law

Mick Grasmick Financial Services Regulation Law

Timi Anyon Hallem Real Estate Law

Chad S. Hummel Commercial Litigation

Ivan L. Kallick Litigation - Bankruptcy

Barry S. Landsberg Healthcare Law

Margaret Levy Insurance Law

John F. Libby Criminal Defense: White-Collar

Donald W. Meaders Employee Benefits (ERISA) Law

Craig A. MoyerEnergy Law Environmental Law

L. Lee Phillips Entertainment Law - Music

Gregory N. Pimstone Healthcare Law

Adam Pines Commercial Litigation

William T. Quicksilver Banking and Finance Law Financial Services
Regulation Law

Harold P. Reichwald Banking and Finance Law Financial Services
Regulation Law

James R. Schwartz Healthcare Law Non-Profit / Charities Law

Benjamin G. Shatz Appellate Practice

George M. Soneff Eminent Domain and Condemnation Law

Lisa Specht Corporate Law

Charles E. Washburn, Jr. Banking and Finance Law Financial
Services Regulation Law

New York Marcia D. Alazraki Insurance Law

Robert D. Belfort Healthcare Law

William S. Bernstein Healthcare Law

Aydin S. Caginalp Entertainment Law - Music Entertainment Law -
Motion Pictures and Television

Melinda J. Dutton Healthcare Law

Jeffrey S. Edelstein Advertising Law

Linda A. Goldstein Advertising Law Commercial Litigation

Thomas C. Morrison Advertising Law

Peter F. Olberg Corporate Law

L. Peter Parcher Entertainment Law - Motion Pictures and
Television Entertainment Law - Music

Orange CountySteve Edwards Real Estate Law

Susan K. Hori Land Use and Zoning Law Real Estate Law

Ellen R. Marshall Banking and Finance Law

Thomas D. Phelps Banking and Finance Law Financial Services
Regulation Law

Martin J. Thompson Antitrust Law Healthcare Law

San FranciscoJill S. DoddLitigation - Trusts and Estates
Non-Profit / Charities Law Tax Law Trusts and Estates

Daniel B. Higgins Healthcare Law

David L. Huard Energy Law

Barry W. Lee Commercial Litigation

Alvin T. Levitt Tax Law

Jeff C. NguyenNon-Profit / Charities Law

Marv Pearlstein Real Estate Law

Jordan P. Rose Tax Law

Washington, D.C. Kerrie L. Campbell Litigation - First Amendment

N. Richard Janis Commercial Litigation Criminal Defense: White-
Collar

James R. Jones International Trade and Finance Law

Kenneth M. Kaufman Copyright Law Entertainment Law - Motion
Pictures and Television Entertainment Law - Music Litigation -
Intellectual Property

John L. Ray Corporate Law

Robert H. Shulman Insurance Law

Ivan J. Wasserman Advertising Law

                 About Manatt, Phelps & Phillips, LLP

Manatt, Phelps & Phillips, LLP -- http://www.manatt.com-- is one
of the nation's leading law firms, with offices strategically
located in California (Los Angeles, Orange County, Palo Alto, San
Francisco and Sacramento), New York (New York City and Albany) and
Washington, D.C.  The firm represents a sophisticated client base
-- including Fortune 500, middle-market and emerging companies --
across a range of practice areas and industry sectors.


* Cohen & Grigsby Bankruptcy Lawyers Named to Best Lawyers List
---------------------------------------------------------------
Cohen & Grigsby, a business law firm with headquarters in
Pittsburgh, PA and an office in Naples, FL, is pleased to announce
that 32 of the firm's Pittsburgh-based attorneys have been
selected by their peers for inclusion in The Best Lawyers in
America? 2014 (Copyright 2013 by Woodward/White, Inc., of Aiken,
SC).

Attorneys in the following practice areas have been recognized as
Best Lawyers:

-- Administrative/Regulatory Law: Anthony Cillo

-- Banking & Finance Law: James D. Chiafullo

-- Bankruptcy & Creditor Debtor Rights/Insolvency & Reorganization
Law: William E. Kelleher, Jr.

-- Commercial Litigation: Larry K. Elliott, Robert M. Linn,
Richard R. Nelson II, Jeffrey P. Ward

-- Corporate Law: Christopher B. Carson, James D. Chiafullo,
Charles C. Cohen, Jack W. Elliott, David J. Kalson

-- Employment Law - Management: Ronald J. Andrykovitch, Robert B.
Cottington, Valerie S. Faeth, James R. Haggerty, Robert F. Prorok

-- Immigration Law: John S. Brendel, Lawrence M. Lebowitz, Matthew
T. Phillips

-- International Trade & Finance Law: V. Susanne Cook

-- Labor Law - Management: Ronald J. Andrykovitch, Robert B.
Cottington, James R. Haggerty, Robert F. Prorok

-- Litigation - Bankruptcy: William E. Kelleher, Jr.

-- Litigation - Intellectual Property: Robert M. Linn

-- Litigation - Labor & Employment: Robert B. Cottington, James R.
Haggerty, Robert M. Linn

-- Litigation - Land Use & Zoning: Clifford B. Levine

-- Litigation - Securities: Richard R. Nelson II

-- Litigation - Trusts & Estates: R. Michael Daniel, Christopher
F. Farrell, Jeffrey P. Ward

-- Mediation: James B. Brown

-- Mergers & Acquisitions Law: Jack W. Elliott

-- Non-Profit/Charities Law: Christopher F. Farrell

-- Public Finance Law: Charles R. Brodbeck

-- Real Estate Law: Charles R. Brodbeck, James D. Chiafullo,
Blaine Lamperski, Michael H. Syme, William R. Taxay

-- Tax Law: Christopher F. Farrell, David J. Kalson

-- Technology Law: David J. Kalson

-- Trusts & Estates: R. Michael Daniel; Christopher F. Farrell;
Samuel J. Goncz; C. Eric Pfeil; Mario Santilli, Jr.; Jonathan M.
Schmerling

-- Venture Capital Law: David J. Kalson

Additionally, several Cohen & Grigsby attorneys have been
designated Best Lawyers(R) 2014 "Lawyers of the Year" (Copyright
2013 by Woodward/White, Inc., of Aiken, SC):

-- Charles C. Cohen has been named the Best Lawyers' 2014
Pittsburgh Corporate Law "Lawyer of the Year."

-- V. Susanne Cook has been named the Best Lawyers' 2014
Pittsburgh International Trade & Finance Law "Lawyer of the Year."

-- R. Michael Daniel has been named the Best Lawyers' 2014
Pittsburgh Litigation - Trusts & Estates "Lawyer of the Year."

-- Christopher F. Farrell has been named the Best Lawyers' 2014
Pittsburgh Non-Profit/Charities Law "Lawyer of the Year."

Since it was first published in 1983, Best Lawyers(R) has become
universally regarded as the definitive guide to legal excellence.
Because Best Lawyers is based on an exhaustive peer-review survey
in which almost 50,000 leading attorneys cast nearly five million
votes on the legal abilities of other lawyers in their practice
areas, and because lawyers are not required or allowed to pay a
fee to be listed, inclusion in Best Lawyers is considered a
singular honor.  Corporate Counsel magazine has called Best
Lawyers "the most respected referral list of attorneys in
practice."

                       About Cohen & Grigsby

Since 1981, Cohen & Grigsby, P.C. -- http://www.cohenlaw.com--
and its attorneys have provided sound legal advice and solutions
to clients that seek to maximize their potential in a constantly
changing global marketplace.  Comprised of more than 130 lawyers,
Cohen & Grigsby maintains offices in Pittsburgh, PA and Naples,
FL.  The firm's practice areas include Business Services, Labor &
Employment, Immigration/International Business, Real Estate &
Public Finance, Litigation, Employee Benefits and ERISA, Estates &
Trusts, Bankruptcy & Creditors Rights, and Public Affairs.  Cohen
& Grigsby represents private and publicly held businesses,
nonprofits, multinational corporations, individuals and emerging
businesses across a full spectrum of industries.


* Dorsey & Whitney Bankruptcy Lawyers Named to Best Lawyers List
----------------------------------------------------------------
International law firm Dorsey & Whitney LLP on Aug. 15 disclosed
that 105 lawyers in 12 of the Firm's offices were recently
selected by their peers for inclusion in The Best Lawyers in
America(R) 2014.  In addition, eight lawyers from the Firm's
Anchorage, Fargo, Minneapolis and Salt Lake City offices have been
named Best Lawyers' 2014 Lawyers of the Year.

"This is a much deserved recognition of the excellence of Dorsey's
lawyers across our many practice areas and our geographic
platform," noted Dorsey Managing Partner Ken Cutler.  "That
excellence translates into superb service to our clients every
day."

First published in 1983, Best Lawyers is based on an exhaustive
annual peer-review survey.  More than 50,000 attorneys cast more
than five million votes on the legal abilities of other lawyers in
the same and related specialties.  Because of the rigorous and
transparent methodology used by Best Lawyers, and because lawyers
are not required or allowed to pay a fee to be listed, inclusion
in Best Lawyers is considered a singular honor.

The lawyers listed in Best Lawyers do not decide in which legal
specialties they are listed.  They are included in specialties as
a result of the votes they receive from their peers.  The
specialties listed are based on information from a variety of
sources.

Listed below are the Dorsey lawyers named as Best Lawyers, the
specialty in which they are named, the first year they were listed
and their office location.

Best Lawyers' 2014 Lawyers of the Year:

-- Robert C. Bundy Anchorage Bet-the-Company Litigation

-- Richard M. Rosston Anchorage Real Estate Law

-- Sarah Andrews Herman Fargo Employment Law - Management

-- Jerome P. Gilligan Minneapolis Public Finance Law

-- Michael A. Lindsay Minneapolis Litigation - Antitrust

-- Robert A. Rosenbaum Minneapolis Corporate Law

-- Gary L. Tygesson Minneapolis Corporate Governance Law

-- Milo Steven Marsden Salt Lake City Litigation - Securities

The Best Lawyers in America 2014:

ANCHORAGE, AK

-- Robert C. Bundy (2005) Bet-the-Company Litigation Commercial
Litigation Criminal Defense: Non-White-Collar Criminal Defense:
White-Collar Litigation - Antitrust Litigation - Environmental

-- Jahna Lindemuth (2013) Medical Malpractice Law - Defendants

-- Michael R. Mills (2003) Bankruptcy and Creditor Debtor Rights /
Insolvency and Reorganization Law

-- Richard M. Rosston (2006) Corporate Law Mergers & Acquisitions
Law Real Estate Law

-- Spencer C. Sneed (1995) Litigation - Bankruptcy

COSTA MESA, CA

-- Juan C. Basombrio (2007) Litigation - Antitrust

-- Gabrielle M. Wirth (2007) Employment Law - Management Labor Law
- Management

-- Dennis Wong (2011) Banking and Finance Law

DENVER, CO

-- Whitney A. Holmes (2006) Corporate Law

-- Lee F. Johnston (2012) Litigation - Intellectual Property
Litigation - Patent

-- Steven J. Merker (*) Labor Law - Management

-- Lee R. Osman (2007) Litigation - Intellectual Property
Litigation - Patent Technology Law

-- Kenneth G. Sam (2013) Securities / Capital Markets Law

-- Paul G. Thompson (*) Corporate Law

-- Tucker K. Trautman (1989) Bet-the-Company Litigation Commercial
Litigation Litigation - Antitrust Litigation - Intellectual
Property Litigation - Patent Litigation - Securities

DES MOINES, IA

-- David L. Claypool (2003) Public Finance Law

-- David D. Grossklaus (2005) Public Finance Law

-- Robert E. Josten (2003) Public Finance Law

-- Cristina Kuhn (2013) Public Finance Law

-- Edwin N. McIntosh (2007) Health Care Law

-- David A. Tank (2007) Commercial Litigation

FARGO, ND

-- Sarah Andrews Herman (1995) Employment Law - Management Labor
Law - Management Litigation - Labor & Employment

MINNEAPOLIS, MN

-- Jonathan B. Abram (2007) Securities / Capital Markets Law

-- Michael J. Ahern (2010) Administrative / Regulatory Law
Government Relations Practice

-- James D. Alt (2013) Mutual Funds Law

-- Timothy B. Arends (2013) Employee Benefits (ERISA) Law

-- William J. Berens (1993) Litigation - Trusts & Estates Trusts
and Estates

-- B. Andrew Brown (2007) Litigation - Environmental

-- Elizabeth C. Buckingham (2010) Copyright Law Trademark Law

-- Peter W. Carter (2009) Bet-the-Company Litigation Litigation -
Antitrust Litigation - Securities

-- Robert E. Cattanach (2008) Litigation - Environmental

-- Steven K. Champlin (2007) Eminent Domain and Condemnation Law

-- Douglas R. Christensen (2010) Employment Law - Management Labor
Law - Management Litigation - Labor & Employment

-- Ken Cutler (2006) Corporate Law Mergers & Acquisitions Law

-- Skip Durocher (2013) Commercial Litigation Native American Law

-- George G. Eck (2011) Commercial Litigation Litigation -
Environmental

-- Verlane L. Endorf (2011) Public Finance Law

-- L. Joseph Genereux (2007) Banking and Finance Law

-- Jerome P. Gilligan (2008) Public Finance Law

-- Mark E. Hamel (1995) Real Estate Law

-- Timothy S. Hearn (2009) Corporate Compliance Law Corporate
Governance Law Securities / Capital Markets Law

-- Nathan E. Honson (2013) Tax Law

-- Gary M. Johnson (1995) Trusts and Estates

-- Mark R. Kaster (2010) Administrative / Regulatory Law

-- Bridget A. Logstrom Koci (2008) Litigation - Trusts & Estates
Trusts and Estates

-- Peter M. Lancaster (2011) Litigation - Intellectual Property
Litigation - Patent

-- Thaddeus R. Lightfoot (2007) Environmental Law Litigation -
Environmental

-- Jay R. Lindgren (2006) Land Use & Zoning Law Public Finance Law

-- Michael A. Lindsay (2008) Litigation - Antitrust

-- Stephen P. Lucke (2010) Commercial Litigation Litigation -
ERISA

-- Edward B. Magarian (2011) Litigation - Antitrust

-- Roger J. Magnuson (2006) Bet-the-Company Litigation Commercial
Litigation Litigation - Antitrust Litigation - Regulatory
Enforcement (SEC, Telecom, Energy) Litigation - Securities

-- Phillip H. Martin (1989) Litigation & Controversy - Tax Tax Law

-- Saiko Y. McIvor (2010) Immigration Law

-- Steven C. Nelson (2013) Mergers & Acquisitions Law

-- Robert J. Olson (2013) Construction Law

-- Michael J. Radmer (2007) Mutual Funds Law Securities Regulation

-- Melissa Raphan (2009) Employment Law - Management Litigation -
Labor & Employment

-- Julia L. Rau (2012) Tax Law Trusts and Estates

-- Stanley M. Rein (1995) Trusts and Estates

-- Robert A. Rosenbaum (2006) Corporate Compliance Law Corporate
Governance Law Corporate Law Mergers & Acquisitions Law

-- Mary J. Streitz (2012) Native American Law Tax Law

-- Jay L. Swanson (2007) Corporate Compliance Law Corporate
Governance Law Corporate Law Mergers & Acquisitions Law

-- Thomas W. Tinkham (1989) Bet-the-Company Litigation Commercial
Litigation

-- Gary L. Tygesson (2007) Corporate Governance Law

-- Bryn R. Vaaler (2013) Corporate Law

-- Thomas D. Vander Molen (2008) Non-Profit / Charities Law Public
Finance Law

-- J. Thomas Vitt (2013) Litigation - Intellectual Property

-- Michael J. Wahoske (2007) Appellate Practice

-- Steven J. Wells (2012) Commercial Litigation Franchise Law

-- Perry M. Wilson III (2012) Litigation - Trusts & Estates

-- John W. Windhorst Jr. (1983) Litigation & Controversy - Tax

MISSOULA, MT

-- Jack Manning (1999) Corporate Law Securities / Capital Markets
Law

NEW YORK, NY

-- Zachary W. Carter (2012) Litigation - Securities

-- Mario Diaz-Cruz III (2013) Banking and Finance Law

-- Sandra Edelman (2007) Litigation - Intellectual Property
Litigation - Patent

-- Bruce R. Ewing (2005) Litigation - Intellectual Property
Trademark Law

-- Jonathan M. Herman (2012) Litigation - Trusts & Estates

-- Susan Progoff (2011) Litigation - Intellectual Property

-- Richard H. Silberberg (2007) Arbitration Mediation

-- David C. Singer (2010) Employment Law - Individuals Employment
Law - Management

PALO ALTO, CA

-- John Walshe Murray (1995) Bankruptcy and Creditor Debtor Rights
/ Insolvency and Reorganization Law Litigation - Bankruptcy

SALT LAKE CITY, UT

-- Alan W. Bell (2010) Corporate Law Mergers & Acquisitions Law

-- Bryon J. Benevento (2006) Personal Injury Litigation -
Defendants Product Liability Litigation - Defendants

-- Samuel P. Gardiner (2010) Corporate Law Securities / Capital
Markets Law

-- Peggy Hunt (2008) Bankruptcy and Creditor Debtor Rights /
Insolvency and Reorganization Law

-- Annette W. Jarvis (2005) Bankruptcy and Creditor Debtor Rights
/ Insolvency and Reorganization Law Litigation - Bankruptcy

-- Milo Steven Marsden (2010) Commercial Litigation Litigation -
Securities

-- David Marx (*) Corporate Law

-- William B. Prince (2006) Natural Resources Law Oil & Gas Law

-- Nolan S. Taylor (2006) Corporate Law Mergers & Acquisitions Law
Venture Capital Law

-- Michael F. Thomson (2011) Bankruptcy and Creditor Debtor Rights
/ Insolvency and Reorganization Law Litigation - Bankruptcy

-- Steven T. Waterman (2006) Litigation - Bankruptcy

SEATTLE, WA

-- Christopher J. Barry (2009) Corporate Law Mergers &
Acquisitions Law Securities / Capital Markets Law

-- Terrence I. Danysh (2011) Land Use & Zoning Law

-- Michael W. Droke (2007) Employment Law - Management Labor Law -
Management

-- Gary R. Duvall (1995) Franchise Law

-- Peter S. Ehrlichman (2007) Commercial Litigation Litigation -
Intellectual Property Litigation - Labor & Employment Litigation -
Real Estate Litigation - Securities

-- Kimton N. Eng (2011) Patent Law

-- Joseph M. Gaffney (1995) Trusts and Estates

-- John D. Hollinrake Jr. (2012) Tax Law

-- Lisa M. Marchese (2013) Commercial Litigation

-- Traeger Machetanz (2006) Construction Law

-- Marianne O'Bara (2007) Employee Benefits (ERISA) Law

WASHINGTON, DC

-- Thomas O. Gorman (2010) Litigation - Securities

                    About Dorsey & Whitney LLP

With locations across the United States and in Canada, Europe and
the Asia-Pacific region, Dorsey & Whitney LLP provides an
integrated, proactive approach to its clients' legal and business
needs.  Dorsey represents a number of the world's most successful
companies from a wide range of industries, including leaders in
the financial services, life sciences, technology, agribusiness
and energy sectors, as well as major non-profit and government
entities.


* Mintz, Levin's Jeffry Davis Named Bankruptcy Lawyer of the Year
-----------------------------------------------------------------
Jeffry A. Davis, a Member of the Bankruptcy, Restructuring &
Commercial Law Section of Mintz, Levin, Cohn, Ferris, Glovsky and
Popeo, P.C., has been named the Best Lawyers' 2014 San Diego
Bankruptcy and Creditor Debtor Rights / Insolvency and
Reorganization Law "Lawyer of the Year."

Best Lawyers, which compiles annual listings of outstanding
lawyers through a rigorous peer-review process, selects a single
lawyer in each specialty in each community to honor as the "Lawyer
of the Year."  These lawyers have received particularly high
ratings by earning a high level of respect among their peers for
their abilities, professionalism, and integrity.

Mr. Davis has practiced in the area of bankruptcy, commercial law,
and debtor/creditor law for over 30 years, and is a frequent
lecturer on bankruptcy and commercial law subjects before
professional and trade organizations.  His practice is focused on
all aspects of bankruptcy (including debtors, creditors, and
committees), out-of-court workouts, insolvency, receiverships, and
debtor/creditor rights.  In addition, he is a commercial law
litigator in areas such as contract and business disputes.
Industries in which he has recently represented clients include
real estate, health care, automotive, software, waste management,
and food services.  Most recently, he has been involved in the
Chapter 9 case filed by the City of Stockton, California and
related proceedings enforcing defaults under municipal bonds.
Mr. Davis has been selected by his peers to appear in Best Lawyers
in America each year since 1996.


* Greenberg Traurig Bankruptcy Lawyers Named to Best Lawyers List
-----------------------------------------------------------------
The 2014 edition of Best Lawyers in America includes 131 attorneys
from across the seven Florida offices of international law firm
Greenberg Traurig, LLP.  The firm is top-listed across 18 practice
areas in the region.

For a seventh consecutive year, Greenberg Traurig -- with 348
attorneys listed from across its U.S. offices -- is ranked No. 1
by Best Lawyers in America for having the highest number of
attorneys listed in the 2014 edition of its publication.

Inclusion in Best Lawyers in America is based entirely on peer-
review, according to the website.  The methodology is designed to
capture, as accurately as possible, the consensus opinion of
leading lawyers about the professional abilities of their
colleagues within the same geographical area and legal practice
area.

Six Florida lawyers received special recognition as "Lawyer of the
Year."  Only one lawyer in each practice area and designated
metropolitan area is given this title.  The Florida Greenberg
Traurig attorneys recognized as Lawyers of the Year, with their
respective location and practice area are:

-- Carl A. Fornaris, Securities Regulation, Miami

-- Bruce H. Giles-Klein, Public Finance Law, Miami

-- Fred F. Harris, Corporate Law, Tallahassee

-- Gregory W. Herbert, Intellectual Property, Orlando

-- Richard C. McCrea, Jr., Labor Law - Management and Litigation -
Labor & Employment, Tampa

-- Robert A. Soriano, Bankruptcy and Creditor Debtor Rights /
Insolvency and Reorganization Law, Tampa

The Greenberg Traurig Florida attorneys recognized by Best Lawyers
in America cover more than 50 different practice areas.  Four
attorneys are honored for the first time.  The attorneys are
listed with their corresponding category/practice area(s) and the
year they were first recognized:

BOCA RATON

-- Dennis W. Hillier (2007) - Real Estate Law

-- Jeffrey S. Kahn (2010) - Tax Law

-- Marvin A. Kirsner (2008) - Tax Law

-- Marcia H. Langley (2010) - Real Estate Law

-- Craig T. McClung (2012) - Tax Law

-- Stephen A. Mendelsohn (2013) - Litigation - Banking & Finance

-- Robert J. Robes (2013)- Trust and Estates

FORT LAUDERDALE

-- David O. Batista (2013) - Commercial Litigation

-- Donn A. Beloff (2006) - Corporate Law, Leveraged Buyouts and
Private Equity Law, Securities/Capital Markets Law

-- Francis B. Brogan, Jr. (2005) - Trusts and Estates

-- Jerold I. Budney (2010) - Appellate Practice, Commercial
Litigation

-- William R. Clayton (2010) - Commercial Litigation, Litigation -
Construction Litigation - Real Estate

-- Jonathan S. Gelman (2009) - Real Estate Law

-- Jeffrey Gilbert (2013) - Commercial Litigation, Litigation -
Bankruptcy, Litigation - Real Estate

-- Glenn E. Goldstein (2010) - Commercial Litigation, Litigation -
Banking & Finance, Litigation - Real Estate

-- Scott M. Grossman (2011) - Bankruptcy and Creditor Debtor
Rights/Insolvency and Reorganization Law, Litigation - Bankruptcy

-- Barbara A. Hall (2007) - Environmental Law, Government
Relations Practice

-- Jeffrey Allan Hirsch (2010) - Commercial Litigation

-- Kenneth A. Horky (2013) - Commercial Litigation

-- Stanley G. Jacobs, Jr. (2013) - Corporate Law,
Securities/Capital Markets Law

-- Stephen F. Katz (2005) - Real Estate Law

-- Kara L. MacCullough (2012) - Corporate Compliance Law,
Corporate Law

-- Bruce I. March (2011) - Mergers & Acquisitions Law

-- Daniel D. McCawley (2010) - Real Estate Law

-- Paul B. McCawley (2009) - Tax Law, Trusts and Estates

-- John L. McManus (2013) - Commercial Litigation

-- Matthew W. Miller (2011) - Corporate Law, Securities/Capital
Markets Law, Securities Regulation

-- Debbie M. Orshefsky (2006) - Environmental Law, Land Use &
Zoning Law, Real Estate Law

-- David C. Peck (2006) - Corporate Law, Health Care Law

-- Brian J. Sherr (2007) - Real Estate Law

-- Michele Stocker (2013) - Commercial Litigation

MIAMI

-- Cesar L. Alvarez (1993) (20 years) - Corporate Law,
International Trade and Finance Law

-- David A. Barkus (2011) - Corporate Law

-- Kerri L. Barsh (2007) - Environmental Law, Land Use & Zoning
Law, Litigation - Environmental, Litigation - Land Use & Zoning,
Natural Resources Law

-- Hilarie Bass (2007) - Commercial Litigation, Litigation -
Banking & Finance, Litigation - Mergers & Acquisitions, Litigation
- Real Estate, Litigation - Securities

-- Jacqueline Becerra (2010) - Commercial Litigation, Litigation -
Intellectual Property, Litigation - Securities

-- Ralph B. Bekkevold (2008) - Litigation - Real Estate, Real
Estate Law

-- Norman J. Benford (1983) (25 years) - Trusts and Estates

-- Richard N. Bernstein (2005) - Corporate Law

-- Mark D. Bloom (1993) (20 years) - Bankruptcy and Creditor
Debtor Rights/Insolvency and Reorganization Law, Litigation -
Bankruptcy

-- Burt Bruton (2005) - Litigation - Real Estate, Real Estate Law

-- Juan Pablo Cappello (2007) - Corporate Law, Derivatives and
Futures Law, Securitization and Structured Finance Law

-- David A. Coulson (2010) - Commercial Litigation

-- Albert A. del Castillo (2006) - Public Finance Law

-- Alan T. Dimond (2007) - Commercial Litigation, Litigation -
Construction, Litigation - Municipal, Litigation - Real Estate

-- Lucia A. Dougherty (2006) - Administrative / Regulatory Law,
Environmental Law, Land Use & Zoning Law, Real Estate Law

-- Seth J. Entin (2007) - Tax Law

-- Gary M. Epstein (1995) (10 years) - Corporate Law,
Securities/Capital Markets Law, Securities Regulation

-- Robert S. Fine (2012) - Government Relations Practice,
Litigation - Land Use & Zoning

-- Joseph Z. Fleming (1983) (25 years) - Employment Law -
Management, Entertainment Law - Motion Pictures & Television,
Environmental Law, Labor Law - Management, Land Use & Zoning Law,
Litigation - Environmental, Litigation - Labor & Employment,
Litigation - Land Use & Zoning, Sports Law, Water Law

-- Carl A. Fornaris (2008) - Banking and Finance Law, Corporate
Law, Financial Services Regulation Law, Securities / Capital
Markets Law, Securities Regulation

-- Ricardo L. Fraga (2010) - Real Estate Law

-- Robert C. Gang (2006) - Public Finance Law

-- Laura R. Gangemi Vignola (2008) - Real Estate Law

-- Bruce H. Giles-Klein (2006) - Public Finance Law

-- Richard J. Giusto (2007) - Real Estate Law

-- Steven E. Goldman (2007) - Real Estate Law

-- Matthew B. Gorson (1987) (25 years) - Real Estate Law

-- Larry J. Hoffman (1989) (25 years) - Corporate Law

-- Kenneth C. Hoffman (2011) - Corporate Law, Securities / Capital
Markets Law

-- John B. Hutton III (2009) - Bankruptcy and Creditor Debtor
Rights / Insolvency and Reorganization Law, Commercial Litigation,
Litigation - Bankruptcy

-- Steven A. Landy (First year 2014) - Real Estate Law

-- Steven B. Lapidus (1995) (10 years) - Employee Benefits (ERISA)
Law

-- Nancy B. Lash (2008) - Real Estate Law

-- Juan P. Loumiet (2008) - Litigation - Real Estate, Real Estate
Law

-- Patricia Menendez-Cambo (2006) - Corporate Law, International
Trade and Finance Law

-- Adrienne L. Pardo (2011) - Government Relations Practice

-- Eliot Pedrosa (2013) - Commercial Litigation

-- Albert D. Quentel (1987) (25 years) - Real Estate Law

-- Julissa Rodriguez (2013) - Appellate Practice

-- Ronald M. Rosengarten (2006) - Employment Law - Management,
Labor Law - Management

-- Ira N. Rosner (2007) - Corporate Law, Energy Law,
Securities/Capital Markets Law

-- David L. Ross (1989) (25 years) - Bet-the-Company Litigation,
Commercial Litigation, Litigation - Antitrust

-- Mark A. Salky (2013) - Commercial Litigation, Litigation - Real
Estate

-- Gary Saul (2006) - Real Estate Law

-- Elliot H. Scherker (2001) (10 years) - Appellate Practice,
Criminal Defense: White-Collar, Personal Injury Litigation -
Defendants

-- Ozzie A. Schindler (2006) - Tax Law

-- Mark P. Schnapp (2006) - Criminal Defense: White-Collar

-- Marlene K. Silverman (2007) - Commercial Litigation, Litigation
- Intellectual Property

-- Charles E. Stiver, Jr. (1999) (10 years) - Tax Law

-- Susan J. Tarbe (2007) - Commercial Litigation, Criminal
Defense: White-Collar

-- Manuel R. Valcarcel IV (2007) - Communications Law, Technology
Law

-- David E. Wells (2008) - Mergers & Acquisitions Law,
Securities/Capital Markets Law

-- Diana S.C. Zeydel (2008) - Litigation - Trusts & Estates, Tax
Law, Trusts and Estates

ORLANDO

-- Warren S. Bloom (2007) - Public Finance Law

-- Orlando L. Evora (2007) - Real Estate Law

-- Peter J. Fides II (2008) - Real Estate Law

-- Gregory W. Herbert (2010) - Litigation - Intellectual Property,
Litigation - Patent

-- Russell P. Hintze (2008) - Mergers & Acquisitions Law, Tax Law

-- Michael Hornreich (2003) (10 years) - Construction Law,
Litigation - Construction, Litigation - Municipal, Litigation -
Real Estate

-- Joseph J. JeBailey (2013) - Real Estate Law

-- Julie P. Kendig-Schrader (2008) - Environmental Law, Litigation
- Land Use & Zoning, Real Estate Law

-- Adam B. Landa (2013) - Copyright Law, Litigation - Intellectual
Property, Litigation - Patent

-- Joel D. Maser (2005) - Tax Law

-- Jonathan M. Perry (First year 2014) - Real Estate Law

-- Ronald M. Schirtzer (2013) - Commercial Litigation

-- Alan C. Sheppard, Jr. (2013) - Real Estate Law

-- I. William Spivey II (2009) - Commercial Litigation, Litigation
- Banking & Finance, Litigation - Real Estate

-- Michael J. Sullivan (2005) - Real Estate Law

-- Jean E. Wilson (2007) - Public Finance Law

TALLAHASSEE

-- David C. Ashburn (2008) - Government Relations Practice, Health
Care Law

-- Fred W. Baggett (2007) - Government Relations Practice

-- Lorence Jon Bielby (2008) Bet-the-Company Litigation,
Commercial Litigation, Litigation - Labor & Employment, Technology
Law

-- Reggie L. Bouthillier (2006) - Environmental Law, Litigation -
Environmental

-- Glenn T. Burhans, Jr. (2010) - Appellate Practice, Bet-the-
Company Litigation, Commercial Litigation

-- Michael J. Cherniga (2006) - Government Relations Practice,
Health Care Law

-- Fred F. Harris (2010) - Corporate Law, Securities/Capital
Markets Law, Tax Law

-- M. Hope Keating (2010) - Appellate Practice, Health Care Law

-- Robert R. McDonald (2009) - Real Estate Law

-- Maribel N. Nicholson-Choice (2010) - Environmental Law

-- Barry Richard (2006) - Appellate Practice, Bet-the-Company
Litigation, Commercial Litigation, Ethics and Professional
Responsibility Law, Litigation - Regulatory Enforcement (SEC,
Telecom, Energy)

TAMPA

-- Gregory W. Kehoe (2009) - Commercial Litigation, Criminal
Defense: White-Collar

-- Vincent A. Marchetti (2013) - Litigation - Land Use & Zoning

-- Cynthia L. May (2012) - Employment Law - Management, Labor Law
- Management

-- Richard C. McCrea, Jr. (1995) (10 years) - Employment Law -
Management, Labor Law - Management, Litigation - Labor &
Employment

-- Kimberly Mello (2013) - Appellate Practice

-- Robert A. Soriano (1993) (20 years) - Bankruptcy and Creditor
Debtor Rights/Insolvency and Reorganization Law, Litigation -
Bankruptcy

-- David B. Weinstein (2005) - Commercial Litigation, Litigation -
Environmental

-- Peter Wolfson Zinober (1989) (25 years) - Employment Law -
Management, Labor Law - Management, Litigation - Labor &
Employment

WEST PALM BEACH

-- Bridget A. Berry (2012) - Commercial Litigation, Litigation -
Construction, Litigation - Labor & Employment, Litigation - Real
Estate

-- Mark F. Bideau (2009) - Bet-the-Company Litigation, Commercial
Litigation, Construction Law, Employment Law - Management, Labor
Law - Management, Litigation - Construction, Litigation - First
Amendment, Litigation - Labor & Employment, Litigation - Land Use
& Zoning, Litigation - Real Estate, Litigation - Securities, Mass
Tort Litigation/Class Actions - Defendants

-- Howard Bregman (2008) - Real Estate Law

-- Joseph C. Coates III (2011) - Commercial Litigation, Litigation
- Regulatory Enforcement (SEC, Telecom, Energy), Litigation -
Securities

-- Gary M. Dunkel (2010) - Commercial Litigation, Litigation -
Real Estate

-- Tracy L. Gerber (First year 2014) - Litigation - Securities

-- Laurie L. Gildan (2009) - Litigation - Real Estate, Real Estate
Law

-- Bradford D. Kaufman (2008) - Commercial Litigation, Litigation
- Regulatory Enforcement (SEC, Telecom, Energy), Litigation -
Securities, Securities / Capital Markets Law, Securities
Regulation

-- David M. Layman (2010) - Real Estate Law

-- Patricia A. Leonard (First year 2014) - Commercial Litigation

-- Robert Sanders (2010) - Land Use & Zoning Law

-- Stephen D. Sanford (2010) Public Finance Law

                  About Greenberg Traurig, LLP

Greenberg Traurig, LLP -- http://www.gtlaw.com-- is an
international, full-service law firm with approximately 1750
attorneys serving clients from 36 offices in the United States,
Latin America, Europe, the Middle East and Asia.  In the U.S., the
firm has more offices than any other among the Top 10 on The
National Law Journal's 2012 NLJ 250.


* Brickler & Eckler Bankruptcy Lawyers Named to Best Lawyers List
-----------------------------------------------------------------
The Best Lawyers in America(R) 2014 (copyright 2013 by
Woodward/White, Inc., of Aiken, SC) recently named nine Bricker &
Eckler attorneys as "Lawyer of the Year" in Columbus and
Cincinnati.  Additionally, fifty-five Bricker lawyers,
representing nearly 38 percent of the firm's attorneys, were
selected by their peers for inclusion in this year's edition.

Best Lawyers names only a single lawyer in each specialty as the
"Lawyer of the Year" in each market.  Best Lawyers compiles its
lists of outstanding attorneys by conducting exhaustive peer-
review surveys in which thousands of leading lawyers
confidentially evaluate their professional peers.  The current
edition is based on detailed evaluations of nearly four million
lawyers nationwide. Attorneys honored as "Lawyers of the Year"
have received particularly high ratings in surveys for their
abilities, professionalism and integrity.  The 2014 Lawyers of the
Year from Bricker & Eckler are:

Columbus -

Jerry O. Allen: Litigation & Controversy Tax "Lawyer of the Year"

John P. Beavers: Corporate Compliance Law "Lawyer of the Year"

Drew H. Campbell: Litigation-Banking & Finance "Lawyer of the
Year"

Frank L. Merrill: Litigation-Environmental "Lawyer of the Year"

Karen M. Moore: Trusts & Estates "Lawyer of the Year"

Rebecca C. Princehorn: Education Law "Lawyer of the Year"

Anne Marie Sferra: Appellate Practice "Lawyer of the Year"

Cincinnati -

Andrew M. Shott: Litigation-Real Estate "Lawyer of the Year"

Claire Turcotte: Health Care Law "Lawyer of the Year"

Attorneys are named to the Best Lawyers list following a peer-
review survey of more than 36,000 leading attorneys across the
nation who cast almost 4.4 million votes on the legal abilities of
other lawyers in their practice areas.  Lawyers listed in Best
Lawyers have no say in selecting the practice areas in which they
are listed and are voted into the named practice area as a result
of the votes received from peers.

Bricker is proud to congratulate these honored attorneys, listed
by location and practice area:

Cleveland - Glenn S. Krassen (Energy Law, Natural Resources Law,
Oil & Gas Law)Thomas J. Onusko (Health Care Law)

Columbus -Jerry O. Allen (Litigation & Controversy - Tax, Tax Law)
Laura G. Anthony (Education Law)David G. Baker (Real Estate
Law)Catherine M. Ballard (Health Care Law)John P. Beavers
(Corporate Compliance Law, Corporate Governance Law, Corporate
Law, Mergers & Acquisitions Law, Securities / Capital Markets
Law)John F. Birath, Jr. (Commercial Litigation, Medical
Malpractice Law - Defendants, Personal Injury Litigation -
Defendants)Sally W. Bloomfield (Water Law, Energy Law) Drew H.
Campbell (Commercial Litigation, Litigation - Banking &
Finance)Kimball H. Carey (Education Law)William T. Conard II
(Public Finance Law)David K. Conrad (Real Estate Law)Scott W.
Davis (Construction Law)Jennifer A. Flint (Education Law)James F.
Flynn (Health Care Law)John F. Furniss III (Trusts and
Estates)Dane A. Gaschen (Education Law)Michael K. Gire (Health
Care Law)Craig A. Haddox (Real Estate Law)James J. Hughes
(Environmental Law, Litigation - Environmental)Stephen Intihar
(Real Estate Law)Kenneth C. Johnson (Bankruptcy and Creditor
Debtor Rights / Insolvency and Reorganization Law, Litigation -
Bankruptcy)Gordon W. Johnston (Banking and Finance Law, Equipment
Finance Law) Richard F. Kane (Public Finance Law)Donald R. Keller
(Employment Law - Management, Labor Law - Management, Litigation -
Labor & Employment)Allen R. Killworth (Health Care Law)Stephan R.
Kleinman (Health Care Law)Gordon F. Litt (Tax Law, Trusts and
Estates)Richard S. Lovering (Personal Injury Litigation -
Defendants) Edward A. Matto (Antitrust Law, Litigation -
Antitrust)Charles H. McCreary (Real Estate Law)Frank L. Merrill
(Litigation - Environmental)Karen M. Moore (Litigation - Trusts &
Estates, Trusts & Estates) Thomas J. O'Brien (Communications Law,
Energy Law, Water Law)James G. Petrie (Employment Law -
Individuals, Employment Law - Management, Labor Law - Management,
Litigation - Labor & Employment) Rebecca C. Princehorn (Education
Law, Public Finance Law) Robert C. Rafferty (Trusts and
Estates)Jack Rosati, Jr. (Construction Law, Litigation -
Construction)James A. Rutledge (Corporate Law)Anne Marie Sferra
(Appellate Practice, Commercial Litigation)Douglas Shevelow
(Construction Law)Diane M. Signoracci (Health Care Law)Karen D.
Smith (Health Care Law)David C. Spialter (Health Care
Law)Elisabeth A. Squeglia (Health Care Law)Christopher N. Swank
(Real Estate Law)Betsy A. Swift (Employment Law - Management,
Labor Law - Management) Kurtis A. Tunnell (Government Relations
Practice)David M. Whittaker (Bankruptcy and Creditor Debtor Rights
/ Insolvency and Reorganization Law, Litigation - Bankruptcy)Faith
M. Williams (Administrative / Regulatory Law, Insurance Law)

Cincinnati-Dayton (West Chester) -Mark A. Engel (Tax Law)Jeffrey
P. McSherry (Commercial Litigation)Andrew M. Shott (Commercial
Litigation, Litigation - Real Estate, Real Estate Law)Claire
Turcotte (Health Care Law)

                      About Bricker & Eckler

Bricker & Eckler -- http://www.bricker.com-- is one of Ohio's
leading law firms.  Located in Columbus, Cleveland, Cincinnati-
Dayton, and a newly opened Marietta office, the firm represents a
wide variety of clients, including businesses and corporations,
nonprofit organizations, governmental agencies, health care
entities, school districts, municipalities, banks and insurers.


* Mintz Levin Bankruptcy Lawyers Named to Best Lawyers List
-----------------------------------------------------------
Sixty-three attorneys from Mintz, Levin, Cohn, Ferris, Glovsky and
Popeo, P.C. were recently selected by their peers for inclusion in
the 2014 edition of The Best Lawyers in America(R).

Since it was first published in 1983, Best Lawyers has become
universally regarded as the definitive guide to legal excellence.
Best Lawyers is based on an exhaustive peer-review survey in which
almost 50,000 leading attorneys cast nearly five million votes on
the legal abilities of other lawyers in their practice areas.
Corporate Counsel magazine has called Best Lawyers "the most
respected referral list of attorneys in practice."

The following Mintz Levin attorneys were selected in their
respective practice areas for 2014:

Boston

Peter A. Biagetti - Commercial Litigation

Alden J. Bianchi - Employee Benefits (ERISA) Law

Daniel S. Bleck - Bankruptcy and Creditor-Debtor Rights/Insolvency
and Reorganization Law

Joseph Blute - Product Liability Litigation - Defendants

Meghan B. Burke - Public Finance Law

Elizabeth B. Burnett - Commercial Litigation

Ralph A. Child - Environmental Law; Litigation - Environmental

William L. Coffman - Immigration Law

Susan J. Cohen - Immigration Law

Thomas S. Crane - Health Care Law

Deborah A. Daccord - Health Care Law

Michael L. Fantozzi - Securities/Capital Markets Law

Susan M. Finegan - Commercial Litigation

Robert M. Gault - Employment Law - Individuals

Thomas M. Greene - Employee Benefits (ERISA) Law

H. Joseph Hameline - Litigation - Intellectual Property

Douglas Hauer - Immigration Law

William M. Hill - Construction Law; Litigation - Construction

Anthony E. Hubbard - Non-Profit/Charities Law

Ellen L. Janos - Health Care Law

William W. Kannel - Bankruptcy and Creditor-Debtor
Rights/Insolvency and Reorganization Law; Litigation - Bankruptcy

Jonathan L. Kravetz - Biotechnology Law; Securities/Capital
Markets Law; Securities Regulation; Technology Law

Kim V. Marrkand - Insurance Law

Richard E. Mikels - Bankruptcy and Creditor-Debtor
Rights/Insolvency and Reorganization Law; Litigation - Bankruptcy

Peter M. Miller - Trusts and Estates

Tracy A. Miner - Criminal Defense: White-Collar

A. Jason Mirabito - Patent Law

Marilyn Newman - Environmental Law

M. Daria Niewenhous - Health Care Law

Susan P. Phillips - Environmental Law

Frederick J. Pittaro - Real Estate Law

John R. Pomerance - Corporate Law

R. Robert Popeo - Bet-the-Company Litigation; Commercial
Litigation; Corporate Governance Law; Criminal Defense: White-
Collar; Litigation - Regulatory Enforcement (SEC, Telecom, Energy)

Jeffrey R. Porter - Environmental Law; Litigation - Environmental

Paul J. Ricotta - Bankruptcy and Creditor-Debtor Rights/Insolvency
and Reorganization Law; Litigation - Bankruptcy

Gregory A. Sandomirsky - Public Finance Law

Maxwell D. Solet - Litigation & Controversy - Tax; Public Finance
Law, Tax Law

Samuel M. Starr - Construction Law; Litigation - Construction

Kevin J. Walsh - Bankruptcy and Creditor-Debtor Rights/Insolvency
and Reorganization Law

Stephen M. Weiner - Health Care Law

William T. Whelan - Biotechnology Law

Jeffrey M. Wiesen - Biotechnology Law; Corporate Law; Mergers &
Acquisitions Law

New York

Richard H. Block - Litigation - Labor & Employment

Robert I. Bodian - Commercial Litigation; Litigation - Banking &
Finance; Litigation - Bankruptcy; Litigation - Labor & Employment;
Litigation - Securities

Peter A. Chavkin - Criminal Defense: White-Collar

David R. Lagasse - Employment Law - Management; Litigation - Labor
& Employment

Jeffrey A. Moerdler - Real Estate Law

Joel I. Papernik - Corporate Law

Bridget M. Rohde - Criminal Defense: White-Collar

Andrew B. Roth - Health Care Law

Jeremy A. Spector - Public Finance Law

San Diego

Scott Biel - Real Estate Law

Jeffry A. Davis - Bankruptcy and Creditor-Debtor Rights/Insolvency
and Reorganization Law; Litigation - Bankruptcy

John Giust - Litigation - Patent

Jeremy D. Glaser - Venture Capital Law

Bridget A. Moorhead - Insurance Law

San Francisco

Paul Churchill - Real Estate Law

Daniel J. Herling - Product Liability Litigation - Defendants

Washington, D.C.

Raymond D. Cotton - Education Law

Charles D. Ferris - Communications Law

Hope S. Foster - Health Care Law

Bruce D. Sokler - Antitrust Law

Howard J. Symons - Communications Law


* Two Federal Bankruptcy Judges Appointed for N.C. District
-----------------------------------------------------------
John Hinton, writing for Winston-Salem Journal, reported that the
Fourth Circuit U.S. Court of Appeals has appointed Benjamin A.
Kahn and Lena M. James as federal bankruptcy judges for the Middle
District of North Carolina. Judge William Osteen of the U.S.
District Court in Greensboro announced the appointments Wednesday.

According to the report, James will succeed former Judge Thomas
Waldrep and will be stationed in Winston-Salem, a federal court
official said in a statement. Kahn will succeed Judge William L.
Stocks and will be stationed in Greensboro. James and Kahn will be
sworn in after completing a background-check investigation, the
federal official said.

James serves as the chief deputy for the U.S. Bankruptcy Court,
the report related.  She had worked as a law clerk to Chief
Bankruptcy Judge Catharine R. Aron and as an attorney at the law
firm of Womble, Carlyle, Sandridge and Rice.  James graduated from
Swarthmore College in 1992 with a bachelor's degree in English
literature. She received a law degree from the UNC Chapel Hill
School of Law in 1998.

Kahn is a member of the law firm of Nexsen Pruet PLLC in
Greensboro, and served as law clerk to Judge Jerry G. Tart, the
report also related.  Kahn is a conferee of the National
Bankruptcy Conference, a nonprofit organization comprised of
bankruptcy judges, practitioners, and law professors who assist
Congress with bankruptcy legislation.  In 1990, Kahn graduated
from UNC Chapel Hill with a bachelor's degree in political science
and history. He received a law degree from the UNC Chapel Hill
School of Law in 1993.


* Fitch: US Airways-AMR Merger Block May Be Positive for Airports
-----------------------------------------------------------------
The move to block the proposed merger between US Airways and
American Airlines (AMR) could have a marginally positive impact on
U.S airports, Fitch Ratings says. If this move signals the end of
the consolidation trend in the airline business, airports will
generally benefit as more carriers (and competition) increase the
routes and require more services. The U.S. Department of Justice
(DOJ) and six state attorneys general blocked the proposed merger
last week.

Smaller regional airports may fare the best if the trend toward
consolidation is at an end. They are more vulnerable to airline
service cutbacks after a merger of large carriers. However, such
airports with a significant exposure to AMR, such as Northwest
Arkansas Regional Airport (42% in 2012), will remain susceptible
to reductions in AMR's route network if it embarks on a strategy
to emerge from bankruptcy through a down-scaling of its
operations.

Larger international gateway airports may also benefit. If US
Airways and AMR remain separate carriers, both may separately need
to enhance international services to contend with United and
Delta. AMR is better placed to pursue this course given its larger
presence at more favorable international gateway airports such as
JFK, San Francisco and Los Angeles.

DOJ's complaint focuses on Reagan National Airport, claiming that
US Airways' increase in the proportion of required takeoff and
landing slots from the 55% it currently holds to 69% post-merger
would seriously undermine airline competition at the airport. "We
estimate that US Airways underuses slots at the airport compared
with other carriers in terms of enplanements per slot, with the
airline accounting for 42% of the airport's 2012 emplaned
passengers with its 55% holding of slots," Fitch says.

"We believe Reagan's increased counterparty exposure to US Airways
(in a merger scenario) is a minor concern, as demand for slots at
the airport from other airlines, when they become available, is
likely to remain high for the foreseeable future given its
geographic, public transport and pricing strengths. Should the DOJ
eventually agree to the merger, US Airways may be required to
divest slots at Reagan, leading to slightly better outcomes for
the airport as the enplanements per slot may rise," Fitch says.

"However, the overall impact on Reagan's financial position would
be marginal. The residual use and lease agreement means all
airport costs are passed through to airlines regardless of
enplanements. And airport financing is handled by Metropolitan
Washington Airports Authority, which also owns, operates and
finances Dulles International Airport. Changes in carrier
concentration mix at Reagan are small when considered as part of
the whole two-airport system.

"In our view, the airlines are likely to appeal the decision. A
final ruling is expected to take time. We will continue to monitor
the developments."


* Fitch Says Audit Report Proposal Likely Helpful for Investors
---------------------------------------------------------------
Efforts to improve transparency around audit reports would be
helpful for investors and likely help highlight major financial
reporting issues, according to Fitch Ratings.

The Public Company Accounting Oversight Board (PCAOB) presented on
August 13 a proposal that would require auditors to compile more
detailed and descriptive reports in an effort to better inform
investors. Current requirements call for a three-paragraph largely
boilerplate audit opinion that accompanies annual reports and,
rather than describing key accounting issues, simply states
whether companies adhered to generally accepted accounting
principles (GAAP).

Fitch has previously highlighted the importance of disclosures
that are informative and robust. Yet, the current standard three-
paragraph audit opinion could very well be considered boilerplate
and of little incremental informational value. Nevertheless, some
elements of the PCAOB's proposal (i.e. the explicit statement that
"the auditor is independent of the entity and has fulfilled the
auditor's other relevant ethical responsibilities, with disclosure
of the source[s] of those requirements") might also be met with a
similar boilerplate response to today's audit report.

Where auditors have identified weaknesses in the internal control
environment, this might constrain ratings. "As a result, we
believe the proposal to enhance the value of the audit report by
including disclosure of "key audit matters" would likely be
helpful, as it could provide additional information about these
factors. If this new section is successful in disclosing what is
"on the auditor's mind" then that may help assess factors relevant
to our ratings," Fitch says.


* Moody's Affirms B1 Rating on Oakdale's Sewer Revenue Bonds
------------------------------------------------------------
Moody's Investors Service has affirmed the B1 rating on the City
of Oakdale's (CA) 2002A Sewer Enterprise Revenue bonds and removed
the negative outlook. The bonds are secured by the installment
payments made by the City pursuant to the Installment Sale
Agreement between the Oakdale Public Financing Authority and the
City of Oakdale, California. The net revenues of the City's sewer
system are pledged to the payment of the installment payments.

Moody's ratings represent expected loss, encompassing both default
probability and bondholders' likely post-default recovery. When a
security is in or approaching default, then placement of the
rating will largely depend on the expected recovery to
bondholders. Ratings of defaulted bonds with expected recoveries
of 65-95% will typically be in the Caa range, 35-65% at Ca, and
under 35% at the lowest rating of C. In the rare case when
expected recoveries exceed 95%, such ratings will be in the single
B range.

Rating Rationale:

The B1 rating reflects the system's historically poor financial
performance and economically challenged service area, as well as
managerial missteps that led to the earlier default. The rating
also takes into account the projected low maximum annual debt
service coverage, which highlights the degree of financial
improvement that will be necessary to service the increasing debt
service burden. The removal of the negative rating outlook
reflects the restructuring of the State Revolving Fund (SRF) debt
which results in more affordable debt service payments over the
next few years, the adoption of multi-year rate increases, the
commencement of funding of a debt service reserve fund, new
management and the stabilization of the system's finances.

In August 2012, due to the system's weak financial and debt
management practices, the city (or system) defaulted on the
principal portion of the first debt service payment on a $13.2
million unrated state revolving fund (SRF) loan from the
California State Water Resources Control Board (SWRCB). The SRF
loan is secured on a parity basis with the Installment Sale
Agreement payments which are pledged to pay the Moody's rated
Oakdale Public Financing Authority's 2002A Revenue Bonds.

Strengths:

- Restructuring of the SRF loan

- Adoption of multi-year rate increases

- Low customer concentration

Challenges:

- Low maximum annual debt service (MADs) coverage

- Customers' slightly below average socioeconomic profile and
   high unemployment rate in service area

- Weak but improving reserves and system liquidity

What could make the rating go up:

- Significantly bolstered reserve position

- Significant rebound in usage and revenues

What Could Make The Rating Go Down:

- Erosion of liquidity and reserves

- Weakening of financial position

Rating Methodology:

The principal methodology used in this rating was Analytical
Framework For Water And Sewer System Ratings published in August
1999.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                             Total
                                            Share-      Total
                                  Total   Holders'    Working
                                 Assets     Equity    Capital
  Company         Ticker           ($MM)      ($MM)      ($MM)
  -------         ------         ------   --------    -------
ABSOLUTE SOFTWRE  ABT CN          120.5      (14.1)     (11.1)
ACASTI PHARMA IN  APO CN            3.3       (1.8)       2.3
ADVANCED EMISSIO  ADES US          87.0      (42.3)     (18.0)
ADVENT SOFTWARE   ADVS US         824.6     (114.8)    (202.7)
AK STEEL HLDG     AKS US        3,772.7     (181.0)     473.3
ALLIANCE HEALTHC  AIQ US          528.2     (131.1)      64.8
AMC NETWORKS-A    AMCX US       2,460.3     (680.1)     735.0
AMER AXLE & MFG   AXL US        3,008.7     (101.6)     345.2
AMYLIN PHARMACEU  AMLN US       1,998.7      (42.4)     263.0
ANGIE'S LIST INC  ANGI US         111.8      (11.9)      (9.4)
ARRAY BIOPHARMA   ARRY US         136.0      (21.9)      70.7
AUTOZONE INC      AZO US        6,783.0   (1,532.3)    (657.7)
BERRY PLASTICS G  BERY US       5,045.0     (251.0)     550.0
BIOCRYST PHARM    BCRX US          39.9       (9.0)      21.6
BOSTON PIZZA R-U  BPF-U CN        156.7     (108.0)      (4.2)
BRP INC/CA-SUB V  DOO CN        1,768.0     (496.6)     (21.8)
BUILDERS FIRSTSO  BLDR US         505.5       (8.5)     188.3
CABLEVISION SY-A  CVC US        7,588.1   (5,565.5)     (14.0)
CAESARS ENTERTAI  CZR US       26,844.8     (738.1)     833.8
CALLIDUS SOFTWAR  CALD US         123.1       (2.2)       2.8
CAPMARK FINANCIA  CPMK US      20,085.1     (933.1)       -
CC MEDIA-A        CCMO US      15,296.5   (8,289.2)   1,259.4
CENTENNIAL COMM   CYCL US       1,480.9     (925.9)     (52.1)
CHIMERIX INC      CMRX US          26.3       (2.1)      15.9
CHOICE HOTELS     CHH US          562.7     (520.0)      75.1
CIENA CORP        CIEN US       1,693.3      (97.9)     744.0
CINCINNATI BELL   CBB US        2,145.4     (719.7)     (43.2)
DELTA AIR LI      DAL US       45,772.0   (1,184.0)  (5,880.0)
DENDREON CORP     DNDN US         576.9     (100.5)     246.8
DEX MEDIA INC     DXM US        2,658.8      (17.7)     (13.5)
DIAMOND RESORTS   DRII US       1,053.8      (99.1)     674.4
DIRECTV           DTV US       20,921.0   (5,688.0)     622.0
DOMINO'S PIZZA    DPZ US          468.8   (1,328.8)      73.7
DUN & BRADSTREET  DNB US        1,902.0   (1,097.0)    (194.9)
DYAX CORP         DYAX US          70.7      (37.0)      43.0
EVERYWARE GLOBAL  EVRY US         340.7      (53.6)     134.8
FAIRPOINT COMMUN  FRP US        1,606.4     (400.5)      19.6
FAIRWAY GROUP HO  FWM US          338.5       (1.2)       5.8
FERRELLGAS-LP     FGP US        1,440.6      (29.0)       9.9
FIFTH & PACIFIC   FNP US          846.2     (213.7)     (64.6)
FOREST OIL CORP   FST US        1,913.7      (67.4)    (129.4)
FREESCALE SEMICO  FSL US        3,129.0   (4,583.0)   1,235.0
GENCORP INC       GY US         1,411.1     (366.9)      27.9
GLG PARTNERS INC  GLG US          400.0     (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US        400.0     (285.6)     156.9
GLOBAL BRASS & C  BRSS US         576.5      (37.0)     286.9
GOLD RESERVE INC  GDRZF US         78.3      (25.8)      56.9
GOLD RESERVE INC  GRZ CN           78.3      (25.8)      56.9
GRAHAM PACKAGING  GRM US        2,947.5     (520.8)     298.5
HALOGEN SOFTWARE  HGN CN           22.8      (46.2)      (9.4)
HCA HOLDINGS INC  HCA US       27,934.0   (7,485.0)   1,771.0
HD SUPPLY HOLDIN  HDS US        6,459.0   (1,720.0)   1,199.0
HOVNANIAN ENT-A   HOV US        1,618.9     (478.5)     929.3
HUGHES TELEMATIC  HUTCU US        110.2     (101.6)    (113.8)
HUGHES TELEMATIC  HUTC US         110.2     (101.6)    (113.8)
INCYTE CORP       INCY US         334.2      (27.8)     210.4
INFOR US INC      LWSN US       6,202.6     (476.4)    (417.5)
INSYS THERAPEUTI  INSY US          22.2      (63.5)     (70.0)
INVIVO THERAPEUT  NVIV US          13.8      (14.3)     (15.3)
IPCS INC          IPCS US         559.2      (33.0)      72.1
ISTA PHARMACEUTI  ISTA US         124.7      (64.8)       2.2
JUST ENERGY GROU  JE CN         1,505.7     (215.4)     (97.4)
JUST ENERGY GROU  JE US         1,505.7     (215.4)     (97.4)
L BRANDS INC      LTD US        5,776.0     (994.0)     634.0
LIN MEDIA LLC     LIN US        1,221.8      (63.5)     (97.2)
LIPOCINE INC      MBARD US          0.0       (0.0)      (0.0)
LORILLARD INC     LO US         3,335.0   (1,855.0)   1,587.0
MANNKIND CORP     MNKD US         212.4     (152.4)    (234.6)
MARRIOTT INTL-A   MAR US        6,377.0   (1,493.0)  (1,063.0)
MARRONE BIO INNO  MBII US          17.8      (45.1)     (21.6)
MDC PARTNERS-A    MDZ/A CN      1,389.4      (16.6)    (204.5)
MDC PARTNERS-A    MDCA US       1,389.4      (16.6)    (204.5)
MEDIA GENERAL-A   MEG US          739.6     (206.4)      30.6
MERITOR INC       MTOR US       2,477.0   (1,059.0)     278.0
MERRIMACK PHARMA  MACK US         107.3      (58.3)      28.2
MONEYGRAM INTERN  MGI US        5,075.8     (148.2)      30.1
MORGANS HOTEL GR  MHGC US         580.7     (163.7)       9.9
MPG OFFICE TRUST  MPG US        1,280.0     (437.3)       -
NATIONAL CINEMED  NCMI US         831.0     (308.8)     122.2
NAVISTAR INTL     NAV US        8,723.0   (3,638.0)   1,562.0
NEKTAR THERAPEUT  NKTR US         412.8      (40.5)     144.1
NYMOX PHARMACEUT  NYMX US           1.8       (7.4)      (1.9)
ODYSSEY MARINE    OMEX US          28.0       (7.1)     (15.5)
OMEROS CORP       OMER US          23.1      (12.3)      10.4
OMTHERA PHARMACE  OMTH US          18.3       (8.5)     (12.0)
ORGANOVO HOLDING  ONVO US          16.7       (5.3)      (6.2)
PALM INC          PALM US       1,007.2       (6.2)     141.7
PDL BIOPHARMA IN  PDLI US         401.4       (1.3)      46.7
PHILIP MORRIS IN  PM US        37,140.0   (3,929.0)   2,049.0
PHILIP MRS-BDR    PHMO11B BZ   37,140.0   (3,929.0)   2,049.0
PLAYBOY ENTERP-A  PLA/A US        165.8      (54.4)     (16.9)
PLAYBOY ENTERP-B  PLA US          165.8      (54.4)     (16.9)
PLY GEM HOLDINGS  PGEM US       1,102.0      (70.2)     194.4
PROTECTION ONE    PONE US         562.9      (61.8)      (7.6)
QUALITY DISTRIBU  QLTY US         474.4      (42.0)      99.0
QUINTILES TRANSN  Q US          2,426.7   (1,322.3)     217.5
REGAL ENTERTAI-A  RGC US        2,451.8     (706.2)     117.1
RENAISSANCE LEA   RLRN US          57.0      (28.2)     (31.4)
RENTPATH INC      PRM US          208.0      (91.7)       3.6
REVLON INC-A      REV US        1,269.7     (632.4)     180.6
RITE AID CORP     RAD US        6,945.4   (2,357.5)   1,822.5
RURAL/METRO CORP  RURL US         303.7      (92.1)      72.4
SALLY BEAUTY HOL  SBH US        1,892.1     (280.5)     523.4
SILVER SPRING NE  SSNI US         506.9      (86.7)      69.5
SUNESIS PHARMAC   SNSS US          50.6       (5.8)      15.3
SUNGAME CORP      SGMZ US           0.1       (1.3)      (1.4)
SUPERVALU INC     SVU US        4,691.0   (1,084.0)       2.0
TAUBMAN CENTERS   TCO US        3,369.8     (191.4)       -
THRESHOLD PHARMA  THLD US         104.5      (25.2)      80.0
TOWN SPORTS INTE  CLUB US         414.5      (43.7)     (14.3)
TROVAGENE INC     TROV US           9.6       (2.5)       7.1
TROVAGENE INC-U   TROVU US          9.6       (2.5)       7.1
ULTRA PETROLEUM   UPL US        2,062.9     (441.1)    (266.6)
UNISYS CORP       UIS US        2,275.8   (1,536.0)     412.2
VECTOR GROUP LTD  VGR US        1,069.5     (129.5)     384.8
VENOCO INC        VQ US           695.2     (258.7)     (39.2)
VERISIGN INC      VRSN US       2,524.8     (273.9)     312.7
VIRGIN MOBILE-A   VM US           307.4     (244.2)    (138.3)
VISKASE COS I     VKSC US         334.7       (3.4)     113.5
WEIGHT WATCHERS   WTW US        1,310.8   (1,561.1)     (84.7)
WEST CORP         WSTC US       3,462.1     (819.5)     338.0
WESTMORELAND COA  WLB US          933.6     (281.6)     (11.1)
XERIUM TECHNOLOG  XRM US          600.8      (35.1)     123.8
XOMA CORP         XOMA US          76.9      (16.9)      46.5
YRC WORLDWIDE IN  YRCW US       2,172.5     (641.5)     105.5



                            *********

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
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On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
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
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Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
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                  *** End of Transmission ***