TCR_Public/130826.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Monday, August 26, 2013, Vol. 17, No. 236


                            Headlines

2279-2283 THIRD: Plan Confirmation Hearing Set for Sept. 17
ABSORBENT TECHNOLOGIES: Hires Stoel Rives as Patent Counsel
ACADEMY OF CHARTER SCHOOLS: Fitch Rating Removed From Watch Neg.
ALVARION LTD: Asks for Extension of Operating Plan Until Aug. 30
AMERICAN AIRLINES: Judge to Set Initial Scheduling Conference

AMERICAN AIRLINES: Asks Bankr. Judge to Proceed With Confirmation
AMERICAN REALTY: Hearing on Case Dismissal Continued to Oct. 2
AMERICAN SUPERCONDUCTOR: Incurs Net Loss of $10.5MM In 1st Quarter
ARMORWORKS ENTERPRISES: Has Final Authority for $3.5MM DIP Loan
ARMORWORKS ENTERPRISES: Has Final Authority to Use Cash Collateral

ARMORWORKS ENTERPRISES: Hearing on Bid to Dismiss Set for Sept. 17
ARMORWORKS ENTERPRISES: Disclosure Statement Hearing on Oct. 1
ARRHYTHMIA RESEARCH: Gets NYSE MKT Listing Non-Compliance Notice
ATARI INC: Committee Balks at Exclusivity Extension
ATARI INC: Extends Control Over Ch. 11 Case for 30 Days

AVALON OIL: Incurs $749K Net Loss in Fiscal Year Ended March 31
BAJA MINING: Incurs $10.7-Mil. Net Loss in Second Quarter
BERJAC OF OREGON: Pacific Continental Named Defendant in Suit
BIOLASE INC: Violates Bank Covenants; Faces Class Action in Calif.
BLUEJAY PROPERTIES: Settles Motion for Trustee Appointment, et al.

BUFFALO PARK: Joint Plan Filing Deadline Extended Until Aug. 30
CAESARS ENTERTAINMENT: Bank Debt Trades at 10% Off
CALDERA PHARMACEUTICALS: Incurs $1-Mil. Net Loss in Second Quarter
CALIBRE ACADEMY: Fitch Keeps 'B' Bond Rating on Watch Negative
CHINA CEETOP.COM: Incurs $293K Net Loss in Second Quarter

CHINA LOGISTICS: Incurs $493K Net Loss in Second Quarter
CIRTRAN CORP: Reports $1.7-Mil. Net Income in Second Quarter
COGECO CABLE: DBRS Confirms Issuer Rating at 'BB'
COLDWATER PORTFOLIO: U.S. Bank Withdraws Proposed Exit Plan
COMMONWEALTH BIOTECHNOLOGIES: Conn. Court Dismisses "Chien" Suit

COMMONWEALTH REIT: Moody's Revises Ratings Outlook to Negative
COMMUNICATION INTELLIGENCE: Incurs $1.2MM Net Loss in 2nd Quarter
COMMUNITY SOUTH BANK: FDIC Named as Receiver; CB&S Takes Deposits
CONNACHER OIL: Moody's Cuts CFR to Caa2; 2nd Lien Notes to Caa3
CROWN REAL ESTATE: Case Summary & 6 Unsecured Creditors

CRYOPORT INC: Incurs $1.3 Million Net Loss in June 30 Quarter
CYCLONE POWER: Delays Form 10-Q for Second Quarter
DAIS ANALYTIC: Amends Second Quarter Form 10-Q
DETROIT, MI: Bankruptcy Mediator's Past Sparks Ethics Debate
DETROIT, MI: Bankruptcy Judge Allows Property Tax Appeals

DETROIT, MI: Union Officials among Nine Named to Bankruptcy Panel
DEWEY & LEBOEUF: Trust Targets Ex-Clients Over $6MM in Unpaid Fees
DEWEY COMMERCIAL: Voluntary Chapter 11 Case Summary
DEX MEDIA EAST: Bank Debt Trades at 23% Off
DEX MEDIA WEST: Bank Debt Trades at 16% Off

DIVERSINET CORP: Special Meeting of Shareholders on September 11
DOGWOOD PROPERTIES: Settles With Merchants & Farmers Bank
DOGWOOD PROPERTIES: Files Amended Plan Outline
DRYSHIPS INC: Annual Shareholders' Meeting Scheduled for Oct. 31
EASTGATE AUTO: Voluntary Chapter 11 Case Summary

EASTMAN KODAK: Wins Court Approval to Expand Deloitte Services
EDISON MISSION: Spars with Chevron Over Natural-Gas Venture
ELITE PHARMACEUTICALS: Posts $921,600 Net Income in June 30 Qtr.
ELWOOD ENERGY: Moody's Downgrades Senior Secured Bonds to Ba3
EMPRESAS INTEREX: Files First Amended Plan & Disclosure Statement

ENVIRONMENTAL WORLDWIDE: Incurs $4-Mil. Net Loss in Second Quarter
EQUIPOWER RESOURCES: Moody's Cuts First Lien Debt's Rating to B1
FOURTH QUARTER PROPERTIES: Sept. 13 Hearing on Exclusivity
FURNITURE BRANDS: Fails to Cure NYSE MKT Listing Non-Compliance
GALA CORAL: Sees Modest Growth but Challenges Remain

GATEWAY ENERGY: Incurs $160K Net Loss in Second Quarter
GIL INC: Updated Case Summary & Creditors' Lists
GLOBAL BEVERAGE: Suspending Filing of Reports with SEC
GLOBAL FOOD: Incurs $753,500 Net Loss in Second Quarter
GLYECO INC: Incurs $199,000 Net Loss in Second Quarter

GUIDED THERAPEUTICS: Incurs $1.7 Million Net Loss in 2nd Qtr.
GYMBOREE CORP: Bank Debt Trades At 4% Off
HCA INC: Fitch Affirms 'B+' Issuer Default Rating
HIGHWAY TECHNOLOGIES: Amends Schedules of Assets and Liabilities
HOWREY LLP: Has Settlement With Baker Firm & Citibank

ICEWEB INC: Incurs $1.6 Million Net Loss in June 30 Quarter
IDQ HOLDINGS: S&P Lowers CCR to 'B-'; Outlook Stable
IZEA INC: Incurs $893,000 Net Loss in Second Quarter
JANABI ASSOCIATES: Case Summary & 20 Largest Unsecured Creditors
K-V PHARMACEUTICAL: Says Creditor Rejection Won't Delay Ch.11 Exit

KEYCORP: DBRS Confirms Preferred Stock at 'BB'
KEYUAN PETROCHEMICALS: Reports $2.9-Mil. Net Income in 1st Quarter
KIDSPEACE CORP: Seeks Extension of Exclusive Plan Filing Deadline
LAFAYETTE YARD HOTEL: Owners Mull Sale or Bankruptcy Filing
LATTICE INC: Posts $51,000 Net Income in Second Quarter

LONE PINE RESOURCES: Incurs C$15.8-Mil. Net Loss in Second Quarter
LOUISIANA-PACIFIC: S&P Revises Outlook to Pos. & Affirms 'BB' CCR
LPATH INC: Incurs $1.4 Million Net Loss in Second Quarter
LYFE COMMUNICATIONS: Incurs $523,000 Net Loss in Second Quarter
LYON WORKSPACE: Tuesday Hearing on Exclusivity Extension Bid

MEADOWBROOK INSURANCE: Obtains Waiver on Defaulted Loan Covenants
MERUS LABS: Incurs C$1-Mil. Net Loss in Fiscal Third Quarter
MMRGLOBAL INC: Incurs $1.1 Million Net Loss in Second Quarter
MONITOR COMPANY: After Deloitte Sale, Remnants Convert to Ch. 7
MONTREAL MAINE: Legal Fees a Concern for Judge in Bankruptcy Case

MPG OFFICE: Brookfield Extends Tender Offer to August 30
NATIONAL ENVELOPE: Brings in $65MM With 3-Way Sale
NET MEDICAL: Reports $1,000 Net Income in Second Quarter
NETWORK CN: Incurs $749,000 Net Loss in Second Quarter
OHANA GROUP: Plan Outline Hearing Continued Until Sept. 27

ORAGENICS INC: To Sell $30 Million Worth of Securities
OSAGE EXPLORATION: Posts $30,000 Net Income in Second Quarter
OVERSEAS SHIPHOLDING: Blasts Lenders' Bid to Limit Exclusivity
PANACHE BEVERAGE: Has $7.5-Mil. Accumulated Deficit at June 30
PEABODY ENERGY: Fitch Downgrades Issuer Default Rating to 'BB'

PEER REVIEW: Delays Form 10-Q for Second Quarter
PENSACOLA BEACH: American Fidelity Wants Case Dismissal
PENSACOLA BEACH: HighPoint Hospitality May Continue as Manager
PENSACOLA BEACH: Plan Proposes Payments to American Fidelity
PILGRIM'S PRIDE: Strong Performance Prompts Moody's Upgrade Watch

PRESIDENTIAL REALTY: Incurs $514,000 Net Loss in Second Quarter
PROMMIS HOLDINGS: Has Until Oct. 14 to File Chapter 11 Plan
R&J NATIONAL: Court Dismisses Chapter 11 Case
RECEPTOS INC: Incurs $9.9-Mil. Net Loss in Second Quarter
REUTAX AG: Chapter 15 Case Summary

REVSTONE INDUSTRIES: Bankrupt Unit Gets Nod on Chrysler, GM Pact
ROTECH HEALTHCARE: Grossman Pension Plan Quits Equity Panel
ROTECH HEALTHCARE: Equity Panel Retains Cooley LLP as Counsel
ROTECH HEALTHCARE: Equity Panel Taps Bayard as Replacement Counsel
ROTECH HEALTHCARE: Noteholders Rip Bid to Junk Make-Whole Claims

RURAL/METRO CORP: 3-Member Creditors' Committee Appointed
SEAFOOD SHANTY: Spring Township Restaurant Closes
SEARS HOLDINGS: B3 CFR Unchanged Following Poor 2Q Results
START SCIENTIFIC: Incurs $161K Net Loss in Second Quarter
STEWART & STEVENSON: Moody's Withdraws All Ratings

STOCKTON, CA: Lawyer Says Plan Won't Interfere with Talks
SUNEDISON INC: IPO of Semiconductor Unit Won't Impact 'B3' CFR
SUNRISE BANK: FDIC Named as Receiver; First Fidelity Gets Deposits
SWIFT AIR: Obtains Conditional Approval in Bankruptcy Court
TC GLOBAL: Dempsey Out of Investment Group

TOUCHPOINT METRICS: Incurs $140K Net Loss in Second Quarter
TECHPRECISION CORP: KPMG LLP Raises Going Concern Doubt
TRIBUNE CO: Koch Brothers Decide Not to Buy Newspapers
TXU CORP: Bank Debt Trades at 31% Off
UNIVERSAL HEALTH: Trustee Hires E-Hounds as Imaging Consultant

URBAN AG. CORP: Incurs $448K Net Loss in Second Quarter
VENTURE HOLDINGS: JPMorgan Succeeds in Guaranty Suit v. Winget
WEIGHT WATCHERS: Membership Woes Cue Moody's to Lower CFR to Ba2

* Morgan Drexen Asks Judge to Halt CFPB's Data Mining Countersuit

* Moody's Puts Largest U.S. Banks' Ratings Under Review
* Moody's Reviews Debt Ratings on Holding Cos. for 6 US Banks
* Reinsurers' Underwriting Gains Offset By Unrealized Losses

* Argentina's ATFA Lauds Second Circuit Ruling in Debt Case

* BOND PRICING -- For Week From Aug. 19 to 23, 2013

                            *********

2279-2283 THIRD: Plan Confirmation Hearing Set for Sept. 17
-----------------------------------------------------------
Judge James Peck of the U.S. Bankruptcy Court for the Southern
District of New York approved 2279-2283 Third Avenue Associates
LLC's first amended disclosure statement explaining its Plan of
Reorganization and scheduled a hearing on Sept. 17, 2013, at 10:00
a.m., to consider confirmation of the Plan and final applications
for allowance of professional fees and reimbursement of expenses.
Sept. 10 is the last date for serving written objections to the
confirmation of the Plan and final applications for allowance of
professional fees and reimbursement of expenses.

The Plan contemplates the transfer of the property commonly known
as 2279-2283 Third Avenue, in New York, to LSV-JCR 124th LLC, as
senior lender, in full satisfaction of its Allowed Secured Claims
in the estimated amount of $14.5 million.  In consideration
thereof, the Senior Lender will: (1) fund the distributions to
creditors under the Plan, including (a) payment of all outstanding
real estate taxes and related administrative charges claimed by
the City of New York (approx. $250,000), the fees of Debtor's
attorney (approx. $50,000) and an approximate 13.5% distribution
to holders of Allowed Unsecured Claims ($100,000); and (2) waive
its deficiency Unsecured Claim of approximately $500,000.

Under the Plan, Class 3 (Senior Lender Claim) and Class 4 (General
Unsecured Claims) are impaired and entitled to vote on the Plan.
Class 5 (Equity Interests) will receive no distributions under the
Plan and is therefore deemed to have rejected the Plan.  Classes 1
and 2 are unimpaired and conclusively deemed to have accepted the
Plan.

A full-text copy of the First Amended Disclosure Statement, dated
Aug. 9, 2013, is available for free at:

           http://bankrupt.com/misc/22792283_ds_0809.pdf

Jonathan S. Pasternak, Esq., and Jule A. Cvek, Esq., at DELBELLO
DONNELLAN WEINGARTEN WISE & WIEDERKEHR, LLP, in White Plains, New
York, represent the Debtor.

                   About 2279-2273 Third Avenue

2279-2283 Third Avenue Associates LLC and 2279-2283 Third Avenue
Development LLC sought Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case Nos. 12-13092 and 12-13093) on July 17, 2012.
Jonathan S. Pasternak, Esq., at DelBello Donnellan Weingarten Wise
& Wiederkehr, LLP, in White Plains, N.Y., represents the Debtors
as counsel.

Third Avenue Associates owns two contiguous multi residential
buildings located at 2279-2283 Third Avenue, in New York.  Third
Avenue Development is the sole member of Associates.  The Property
is Associate's primary asset, while Development's membership
interests in Associates is its sole asset.  Debtor 2279-2283 Third
Avenue disclosed $14,839,697 in assets and $16,973,992 in
liabilities as of the Chapter 11 filing.

The managing member of each of the Debtors is Michael Waldman.  He
is also the managing member of 3210 Riverdale Associates LLC and
the managing member of the sole member of 3210 Riverdale
Development LLC, other Chapter 11 proceedings currently pending
before the SDNY Court under Case Nos. 12-11286 and 12-11109.

Third Avenue Associates obtained financing from commerce bank of
$14 million and Development obtained mezzanine financing from HSBC
Capital (USA) Inc. in the amount of $6 million.  HSBC refused to
grant additional $700,000 in financing requested by the Debtor to
fund build-outs required by the Internal Revenue Service.

The Commerce note -- which was assigned to TD Bank and then to
LSV-JCR 124th LLC -- was secured by a mortgage on the Properties,
and the HSBC obligation is secured by a mortgage on Associates'
membership interest owned by Development.

The HSBC note matured in 2011 and HSBC called the loan into
default and commenced foreclosure action.  The state court entered
an order appointing Steven Weiss as receiver of rents.  THSBC has
assigned its mezzanine note to LCP-GC LLC.

On July 3, 2012, the Debtors and their two secured lenders, LSV-
JCR 124th LLC and LCP-GC LLC entered into a settlement that
requires the Debtors to transfer ownership of the buildings to the
secured lenders through a Chapter 11 plan.

Judge James Peck oversees the case.  No trustee, examiner or
official committee has been appointed in the cases.


ABSORBENT TECHNOLOGIES: Hires Stoel Rives as Patent Counsel
-----------------------------------------------------------
Absorbent Technologies, Inc. asks the U.S. Bankruptcy Court for
permission to employ Stoel Rives LLP as special counsel to, among
other things, provide these services:

   a. prepare a response to Restriction Requirement for US Patent
      Application No. 13/281,028;

   b. work with a Canadian Agent to prepare Request for
      Examination and Payment of Back Annuities for Canadian
      Patent Application No. 2,693,796; and

   c. work with an Indian Agent to prepare Payment of Back
      Annuities and Taxes for Indian Patent Application No.
      3400/DELNP/2006.

Stoel Rives has received, and is holding, a retainer in the amount
of $16,500 from the Debtor.  These funds are presently held in
Stoel Rives' trust account. Of this total amount, $3,500 was
received prior to the filing of this case to pay for legal
services that were requested by the Debtor and performed prior to
the date of the Petition.

Additionally, $13,000 was received in May 2013 to cover
anticipated legal fees and costs associated with patent filings
necessary to maintain critical patent rights and intellectual
property assets.  The amount is being held in Stoel Rives' trust
account pending approval of the engagement.

The Debtor attests that the firm is a "disinterested person" as
the term is defined in Section 101(14) of the Bankruptcy Code.

Stoel Rives performed some of the emergency patent filings in May
and June 2013.

The individuals presently designated to represent the Debtor and
their hourly rates are:

      Professional                 Rates
      ------------                 -----
      Matthew Bethards             $380/hr
      Rachel Slade                 $265/hr
      Ted Ririe                    $200/hr
      Julie Barnett (paralegal)    $205/hr

Attorneys for Debtors can be reached at:

         Gary Underwood Scharff, Esq.
         Lead Attorney
         LAW OFFICE OF GARY UNDERWOOD SCHARFF
         621 S.W. Morrison Street, Suite 1300
         Portland, OR 97205
         Tel.: 503-493-4353
         Fax: 503-517-8143
         E-mail: gs@scharfflaw.com

              - and -

         Heather A. Brann, Esq.
         Of Counsel
         PO Box 11588
         Portland, OR 97211
         Tel.: 503 490-6563
         E-mail: branns@earthlink.net

                      Absorbent Technologies

Absorbent Technologies, Inc., filed a Chapter 11 petition (Bankr.
D. Ore. Case No. 13-31286) on March 8, 2013, without citing a
reason.  David C. Moffenbeier signed the petition as CEO.  Judge
Trish M. Brown presides over the case.  The Law Office of Gary U.
Scharff serves as the Debtor's counsel.

The Beaverton, Oregon-based company develops, produces, and
markets starch-based superabsorbent products and ingredients in
the United States and internationally.  It offers Zeba, a corn
starch-based polymer that helps farmers grow bigger crops with
less water.  Placed near a plant's roots, Zeba serves as a Grape
Nut-sized sponge that holds and distributes water as a plant needs
it.

The Debtor estimated assets and debts of at least $10 million.
The Debtor has a manufacturing facility at 140 Queen Avenue SW,
Albany, Oregon.

Fluffco LLC and Ephesians Equity Group LLC own equity interests in
privately held Absorbent Technologies.

The Debtor is seeking a buyer for its assets and property.

The U.S. Trustee formed a four-member committee of unsecured
creditors.  Green & Markley, P.C. represents the Committee.


ACADEMY OF CHARTER SCHOOLS: Fitch Rating Removed From Watch Neg.
----------------------------------------------------------------
Fitch Ratings removed from Rating Watch Negative the 'B-' rating
assigned to approximately $35.2 million in outstanding charter
school revenue bonds of the Colorado Educational and Cultural
Facilities Authority issued on behalf of The Academy of Charter
Schools (The Academy).

The Rating Outlook is Stable.

SECURITY

The bonds are essentially a general obligation of the school, with
each series secured by first liens on their respectively financed
facilities.

KEY RATING DRIVERS

WAIVER OBTAINED: The removal of the Rating Watch Negative reflects
management's success in obtaining a waiver related to a covenant
breach under the 2004 Indenture and 2008 Supplemental Indenture.

MANAGEMENT TURNOVER AND FINANCIAL CHALLENGES: Following the
release of audited financial statements that raised material
management concerns, a new executive director is on board and the
school has a remediation plan in place. However, the 'B-' rating
is constrained by the absence of a multi-year track-record of
stabilization under the new senior management team and The
Academy's unfavorable financial and debt credit attributes.

SOUND DEMAND AND ENROLLMENT TRENDS: Despite the aforementioned
challenges, The Academy's demand profile remains sound. Steady and
growing enrollment trends are supported by healthy school-wide
retention rates, favorable academic performance relative to
district- and state-wide averages, and an established reputation
given its 19-year operating history.

DEBT MANAGEABILITY CONCERNS: The Academy's considerable debt
burden, weak debt service coverage from net operating income, and
elevated pro forma debt to net income available for debt service
metric are negative rating factors.

RATING SENSITIVITIES

TIMELY INFORMATION: Maintenance of the rating is contingent upon
receipt of timely and relevant information sufficient to maintain
an accurate rating.

STANDARD SECTOR CONCERNS: The Academy's modest financial cushion,
substantial reliance on enrollment-driven per pupil funding, and
charter renewal risk are credit concerns common among all charter
school transactions. If pressured these issues could negatively
impact the rating over time.

FINANCIAL AND DEBT PROFILE: Evidence of steady, sustained
financial improvement could warrant positive rating movement.
Conversely, failure to make sustained progress toward achieving
full compliance with the covenant breach could place downward
rating pressure.

CREDIT PROFILE

Located in Westminster, Colorado, The Academy has been in
operation since 1994, one year after the state enacted its initial
charter authorization law. The school's headcount enrollment
totaled 1,752 in fall 2012, reflecting a student body ranging from
pre-school through grade 12. To date, the school has received a
total of three charter renewals, with the most recent five-year
contract in effect until June 30, 2014.

The Academy successfully attained a waiver for an unrestricted
working capital balance covenant breach. Under the waiver, The
Academy has until fiscal year-end 2016 to achieve full compliance
with the covenant. Management is required to demonstrate progress
on an annual cycle toward re-establishing covenant compliance.
Failure to demonstrate annual progress results in a modest
monetary fine rather than in a waiver invalidation. Management
believes the timeframe set forth in the waiver provides sufficient
flexibility to achieve covenant compliance. Fitch will monitor
management's progress in future credit reviews.


ALVARION LTD: Asks for Extension of Operating Plan Until Aug. 30
----------------------------------------------------------------
Alvarion(R) Ltd., which is in receivership, disclosed that Yoav
Kfir, the court-appointed Receiver, submitted a request to the
District Court of Tel Aviv -- Yaffo to extend the term of the
operating plan until Aug. 30, 2013.  The operating plan, as
originally approved by the Court on July 21, 2013, allows for the
business operation of the company until Aug. 23, 2013, as well as
for a bidding process to sell the company and/or its assets.

This extension will also permit the Receiver to continue
discussions with the parties which submitted offers as part of the
bidding process to sell the company and/or its assets.  Existing
offers are currently being evaluated prior to being submitted to
the Court for selection and approval.  There is no guarantee as to
the outcome of such discussions which are subject to Court
approval and other matters.

Furthermore, the hearing to appeal NASDAQ's decision to delist the
company's ordinary shares from NASDAQ, which was previously
scheduled to take place on Aug. 29, 2013, was postponed to
Sept. 11, 2013.

                         About Alvarion

Alvarion Ltd. (in Receivership)-- http://www.alvarion.com/--
provides optimized wireless broadband solutions addressing the
connectivity, coverage and capacity challenges of telecom
operators, smart cities, security, and enterprise customers.


AMERICAN AIRLINES: Judge to Set Initial Scheduling Conference
-------------------------------------------------------------
Susan Carey, writing for The Wall Street Journal, reports that
U.S. District Judge Colleen Kollar-Kotelly, who is assigned to
hear the antitrust case brought by the government against the
planned merger of AMR Corp. and US Airways Group Inc., on Friday
ordered the opposing parties to an initial scheduling conference
in her Washington D.C. court in one week.  In her order, Judge
Kollar-Kotelly advised the two sides that she has a criminal trial
set to begin on Jan. 14 that is expected to last for six to eight
weeks. It is her decision on when to schedule the antitrust trial.

AMR and US Airways on Aug. 22 disclosed that they filed a motion
to set a trial date and a supporting brief, requesting a Nov. 12,
2013 trial date.  The Justice Department has requested the trial
to begin on Feb. 10.

WSJ notes the airlines are anxious for a resolution of the
complaint so they can close their merger and get American out of
bankruptcy-court protection.  WSJ recounts that the airlines
warned in a court filing that the merger agreement has a
termination clause that gives either side the right to kill the
deal on Dec. 13 if the necessary regulatory hurdles haven't yet
been cleared.  If both airlines want to keep the pact alive, they
could move back the termination date.

WSJ reports that four unions representing American employees and
some US Airways workers on Friday filed an amicus brief with Judge
Kollar-Kotelly, supporting the airlines' motion to set an early
trial date. The unions, which have endorsed the merger, also asked
the court to deny the government's attempts to block the
transaction.

                       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: Asks Bankr. Judge to Proceed With Confirmation
-----------------------------------------------------------------
Susan Carey, writing for The Wall Street Journal, reports that
American Airlines on Friday filed a memorandum with the U.S.
Bankruptcy Court in New York asking Judge Sean Lane to move ahead
and confirm its plan of reorganization at a hearing scheduled for
Thursday.  Despite the Justice Department's efforts to block the
combination on antitrust grounds, AMR said the plan has met all
the requirements for confirmation by the court, AMR creditors and
directors.

According to WSJ, if the merger isn't allowed to proceed, the
judge's confirmation order could be vacated and the merger plan
nullified.  That would send AMR back to square one, requiring it
to craft a new reorganization plan, most likely built on exiting
from Chapter 11 on its own. It would then submit that plan to its
creditors for a vote, in a process that could take months.  If the
two airlines reach a settlement with the Justice Department and
avoid a trial, the new terms would be brought to the bankruptcy
court for approval, AMR said.

WSJ notes that the Justice Department filed a statement on Friday
in the bankruptcy case, saying it doesn't take a position on
whether Judge Lane should confirm the plan.

                       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 REALTY: Hearing on Case Dismissal Continued to Oct. 2
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
continued to Oct. 2, 2013, at 9 a.m., the hearing to consider (i)
the Atlantic Creditors' motion to dismiss the Chapter 11 case of
American Realty Trust, Inc.; and (ii) Bank of New York Mellon's
motion to convert the Debtor's case to one under Chapter 7 of the
Bankruptcy Code.

Bank of New York Mellon is successor to Bank of New York - Global
Corporate Trust, as trustee for the Registered Certificate Holders
of Commercial Capital Access One, Inc., Commercial Mortgage Bonds,
Series 3 acting through Berkadia Commercial Mortgage, LLC, its
special servicer a creditor.  As reported by the Troubled Company
Reporter on May 30, 2013, Bank of New York said that the so-called
Atlantic Parties, creditors of the Debtor, filed a motion to
dismiss case as a bad faith filing based on the Debtor's inability
to reorganize, fraud, incompetence, dishonesty, and gross
mismanagement.  According to the Bank, while the Trust agrees that
the Atlantic Parties' Motion to Dismiss establishes "cause" for
relief, the Trust does not believe that it is in the best interest
of the estate or the Debtor's other creditors to dismiss the case.
Rather, the Trust requests that the Court order the appointment of
a chapter 11 trustee, and the appointment of an examiner.

Keith M. Aurzada, Esq., and John C. Leininger, Esq. --
keith.aurzada@bryancave.com and john.leininger@bryancave.com -- at
Bryan Cave LLP, represent the Bank.

                    About American Realty Trust

Dallas, Texas-based American Realty Trust, Inc., is a subsidiary
of the real estate giant American Realty Investors Inc.  Coping
with a $73 million legal judgment from an apartment purchase that
collapsed more than a decade ago, American Realty Trust, Inc.,
filed for Chapter 11 protection (Bankr. D. Nev. Case No. 12-10883)
in Las Vegas on Jan. 26, 2012.  The case was later dismissed on
Aug. 1, 2012, by Judge Mike K. Nakagawa.

Creditors David M. Clapper, Atlantic XIII, LLC, and Atlantic
Midwest, LLC -- Clapper Parties -- sought the dismissal, citing,
among other things, the Debtor has been stripped off of its assets
prepetition and its ownership structure changed 10 days before the
bankruptcy filing in an admitted effort to avoid disclosures to
the Securities and Exchange Commission.

American Realty Trust then filed for Chapter 11 protection (Bankr.
N.D. Ga. Case No. 12-71453) on Aug. 29, 2012, with Bankruptcy
Judge Barbara Ellis-Monro presiding over the case.  The case was
later transferred from Atlanta to Dallas (Bankr. N.D. Tex. Case
No. 13-30891) effective Feb. 22, 2013, at the behest of the
Clapper Parties.  The Clapper Parties, who won a $72 million
judgment against the Debtor, again has sought to move the case to
Forth Worth and reassign the case to Judge Russell Nelms on
grounds that Judge Nelms has experience with the parties and the
issues raised in the dismissal motion filed by the Atlantic
Parties.

The Debtor has scheduled assets totaling $79,954,551, comprised
of (i) real property valued at $87,884; (ii) equity interests in
affiliated entities of an unknown value; and (iii) litigation
claims valued at $79,866,667.  The Debtor has scheduled
liabilities totaling $85,347,587.95, comprised of: (i) $10,437.73
in unsecured priority tax claims; and (ii) unsecured non-priority
claims of $85,336,886.61 (of which at least $77,164,701.14 are
contested litigation claims against the Debtor).

The Bankruptcy Court authorized the Debtor to employ Gerrit M.
Pronske, Esq., and Pronske & Patel, P.C. as counsel.


AMERICAN SUPERCONDUCTOR: Incurs Net Loss of $10.5MM In 1st Quarter
------------------------------------------------------------------
American Superconductor Corporation iled its quarterly report on
Form 10-Q, reporting a net loss of $10.5 million on $23.1 million
of revenues for the three months ended June 30, 2013, compared
with a net loss of $10.3 million on $28.7 million of revenues for
the three months ended June 30, 2012.

The Company' balance sheet at June 30, 2013, showed $194.2 million
in total assets, $75.7 million in total liabilities, and
stockholders' equity of $118.5 million.

"The Company has experienced recurring operating losses and as of
June 30, 2013, the Company had an accumulated deficit of
$810.6 million.  In addition, the Company has experienced
recurring negative operating cash flows, which has resulted in a
decrease in its cash balance.  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 at http://is.gd/qAdONu

Devens, Massachusetts-based American Superconductor Corporation is
a leading provider of megawatt-scale solutions that lower the cost
of wind power and enhance the performance of the power grid.  In
the wind power market, the Company enables manufacturers to field
highly competitive wind turbines through its advanced power
electronics products, engineering, and support services.  In the
power grid market, the Company enables electric utilities and
renewable energy project developers to connect, transmit and
distribute power through its transmission planning services and
power electronics and superconductor-based products.


ARMORWORKS ENTERPRISES: Has Final Authority for $3.5MM DIP Loan
---------------------------------------------------------------
Judge Brenda Moody Whinery of the U.S. Bankruptcy Court for the
District of Arizona gave final authority to ArmorWorks
Enterprises, LLC ("AWE"), and TechFiber, LLC, to obtain up to
$3,500,000 of secured postpetition financing from Lancelot Armor,
LLC.

The DIP Lender is granted an allowed superpriority administrative
expense claim for the DIP Facility and all obligations owing
thereunder.  The DIP Lender is also granted automatically
perfected senior security interests in and liens on all of the DIP
Collateral, including all property constituting "cash collateral,"
which liens are junior only to the carve-out.

Carve-out means the statutory fees payable to the U.S. Trustee and
the unpaid fees and expenses incurred by professionals employed by
the Debtors and any statutory committee appointed, which carve-out
will not exceed $250,000 in the aggregate.

The objection filed by C Squared Capital Partners, LLC, a 40%
member and creditor of AWE, to the motion for interim and final
order authorizing borrowing with priority over administrative
expenses and secured by senior liens on the property of the
estate, is withdrawn.  However, a court-approved stipulation
clarified that C Squared's consent to the DIP Loan is not a waiver
of its request to dismiss the Debtors' Chapter 11 cases and is not
a consent or ratification by C Squared to the bankruptcy petitions
filed on June 17, 2013;

Steven D. Jerome, Esq., Evans O'Brien, Esq., and Jill H. Perrella,
Esq., at Snell & Wilmer L.L.P., in Phoenix, Arizona, represent C
Squared and Anchor Management, LLC.

                   About ArmorWorks Enterprises

Military armor systems provider ArmorWorks Enterprises, LLC, and
affiliate TechFiber LLC sought Chapter 11 protection (Bankr. D.
Ariz. Case Nos. 13-10332 and 13-10333) in Phoenix on June 17,
2013, along with a plan that resolves a dispute with a minority
shareholder and $3.5 million of financing that would save the
company from running out of cash.

ArmorWorks develops advanced survivability technology and designs
and manufactures armor and protective products.  ArmorWorks has
produced over 1.25 million ceramic armor and composite armor
protection components for a variety of personnel armor, aircraft,
and vehicle applications.

The Debtors have tapped Todd A. Burgess, Esq., at Gallagher &
Kennedy, as counsel; and MCA Financial Group, Ltd., as financial
advisor.  ArmorWorks estimated $10 million to $50 million in
assets and liabilities.

As of May 26, 2012, ArmorWorks had total assets of $30.9 million
and total liabilities of $12.04 million.

The Plan would resolve the ongoing dispute with C Squared by
allowing ArmorWorks to redeem C Squared's 40% minority interest,
or alternatively, allow C Squared to purchase the 60% majority
interest of AWI.

ArmorWorks and TechFiber sought and obtained an order (i)
transferring the In re TechFiber, LLC chapter 11 case to the
Honorable Brenda Moody Whinery, the judge assigned to the
ArmorWorks Chapter 11 case, and (ii) authorizing the joint
administration of the Debtors' cases.


ARMORWORKS ENTERPRISES: Has Final Authority to Use Cash Collateral
------------------------------------------------------------------
Judge Brenda Moody Whinery of the U.S. Bankruptcy Court for the
District of Arizona gave final authority to ArmorWorks
Enterprises, LLC, and TechFiber, LLC, to continue to use cash
collateral until until the earlier to occur of the "Termination
Declaration Date" or the "Maturity Date" as those terms are
defined under the DIP Facility documents.

                   About ArmorWorks Enterprises

Military armor systems provider ArmorWorks Enterprises, LLC, and
affiliate TechFiber LLC sought Chapter 11 protection (Bankr. D.
Ariz. Case Nos. 13-10332 and 13-10333) in Phoenix on June 17,
2013, along with a plan that resolves a dispute with a minority
shareholder and $3.5 million of financing that would save the
company from running out of cash.

ArmorWorks develops advanced survivability technology and designs
and manufactures armor and protective products.  ArmorWorks has
produced over 1.25 million ceramic armor and composite armor
protection components for a variety of personnel armor, aircraft,
and vehicle applications.

The Debtors have tapped Todd A. Burgess, Esq., at Gallagher &
Kennedy, as counsel; and MCA Financial Group, Ltd., as financial
advisor.  ArmorWorks estimated $10 million to $50 million in
assets and liabilities.

As of May 26, 2012, ArmorWorks had total assets of $30.9 million
and total liabilities of $12.04 million.

The Plan would resolve the ongoing dispute with C Squared by
allowing ArmorWorks to redeem C Squared's 40% minority interest,
or alternatively, allow C Squared to purchase the 60% majority
interest of AWI.

ArmorWorks and TechFiber sought and obtained an order (i)
transferring the In re TechFiber, LLC chapter 11 case to the
Honorable Brenda Moody Whinery, the judge assigned to the
ArmorWorks Chapter 11 case, and (ii) authorizing the joint
administration of the Debtors' cases.


ARMORWORKS ENTERPRISES: Hearing on Bid to Dismiss Set for Sept. 17
------------------------------------------------------------------
The hearing on C Squared Capital Partners, LLC's motion to dismiss
the Chapter 11 cases of ArmorWorks Enterprises, LLC, and TechFiber
LLC, is continued to Sept. 17, 2013, at 10:00 a.m., before the
U.S. Bankruptcy Court for the District of Arizona.

As previously reported, C Squared, the 40% member of the Debtors,
filed the motion to dismiss the Chapter 11 cases of the Debtors,
and lodged objections to the Debtors' "first day" motions.

C Squared claims that the co-manager of the Debtor/AWI's principal
William Perciballi improperly initiated the filing of the Chapter
11 bankruptcy proceeding.

C Squared is also accusing Mr. Perciballi of filing the voluntary
petition in bad faith.  "It is screamingly obvious that there is
no legitimate bankruptcy purpose behind these bankruptcy cases.
Rather, it appears that Perciballi's goal is to effectuate a
hostile takeover of AWE, a solvent entity, for his own benefit,"
says Steven D. Jerome, Esq., at Snell & Wilmer L.L.P., counsel for
C Squared.

The issue between Mr. Perciballi and C Squared is a two-party
dispute that can, and should, be remedied through the pending
state court proceedings, says Mr. Jerome.

                   About ArmorWorks Enterprises

Military armor systems provider ArmorWorks Enterprises, LLC, and
affiliate TechFiber LLC sought Chapter 11 protection (Bankr. D.
Ariz. Case Nos. 13-10332 and 13-10333) in Phoenix on June 17,
2013, along with a plan that resolves a dispute with a minority
shareholder and $3.5 million of financing that would save the
company from running out of cash.

ArmorWorks develops advanced survivability technology and designs
and manufactures armor and protective products.  ArmorWorks has
produced over 1.25 million ceramic armor and composite armor
protection components for a variety of personnel armor, aircraft,
and vehicle applications.

The Debtors have tapped Todd A. Burgess, Esq., at Gallagher &
Kennedy, as counsel; and MCA Financial Group, Ltd., as financial
advisor.  ArmorWorks estimated $10 million to $50 million in
assets and liabilities.

As of May 26, 2012, ArmorWorks had total assets of $30.9 million
and total liabilities of $12.04 million.

The Plan would resolve the ongoing dispute with C Squared by
allowing ArmorWorks to redeem C Squared's 40% minority interest,
or alternatively, allow C Squared to purchase the 60% majority
interest of AWI.

ArmorWorks and TechFiber sought and obtained an order (i)
transferring the In re TechFiber, LLC chapter 11 case to the
Honorable Brenda Moody Whinery, the judge assigned to the
ArmorWorks Chapter 11 case, and (ii) authorizing the joint
administration of the Debtors' cases.


ARMORWORKS ENTERPRISES: Disclosure Statement Hearing on Oct. 1
--------------------------------------------------------------
The hearing to consider the disclosure statement explaining the
Chapter 11 plan of Armorworks Enterprises, LLC, and TechFiber LLC,
will be continued to October 1, 2013, at 2:00 p.m.  The deadlines
to file objections to the Disclosure Statement will be one week
prior to the continued hearing date.

The Plan aims to resolve a dispute with C Squared Capital
Partners, L.L.C., a passive investor in ArmorWorks and owner of a
40% minority interest after making a $1 million passive investment
in the business in 2001.

The Chapter 11 plan provides for these terms:

    * There are no secured claims.  To the extent there are any
secured claims, the creditors will receive installment payments
over 60 months on 5% simple interest or receive possession of
their collateral.

    * Holders of general unsecured claims against ArmorWorks and
TechFiber will be paid in installments.  They will be paid an
initial distribution equal to 20% of the allowed amount of their
claim.  The balance of the claims will be paid in annual
distributions, equal to 20% of the allowed claim plus accrued
interest, beginning on the first anniversary of the Effective Date
and continuing on the anniversary date of each subsequent year
until paid in full.  The claims will accrue interest from and
after the Effective Date at the rate of 5% per annum simple
interest.  All claims plus interest will be paid in full on or
before the later of the fourth anniversary of the Effective Date
or allowance of the Claim.  Holders of unsecured claims are
impaired and are entitled to vote on the Plan.

   * Holders of vendor claims against ArmorWorks and TechFiber
will be paid an initial distribution equal to 25% of the allowed
amount of their Claim, with the balance to be paid in annual
distributions, equal to 25% of the allowed claim plus accrued
interest, beginning on the first anniversary of the Effective Date
and continuing on the anniversary date of each subsequent year
until paid in full.  The claims will accrue interest from and
after the Effective Date at the rate of 5% per annum simple
interest. The claims are impaired, and holders are entitled to
vote to accept or reject the Plan.

   * On account of its equity interest, C Squared may elect, in
full and final satisfaction of its 40 percent stake in the
company, (a) accept a certain redemption amount from ArmorWorks;
or (b) pay AWI the AWI Purchase Price to acquire AWI's 60% equity
security interest in ArmorWorks.  If C Squared fails to accept any
of the offer, it will be deemed to have accepted ArmorWorks;'
offer to pay the redemption amount.

A copy of the Disclosure Statement is available for free at:

    http://bankrupt.com/misc/Armorworks_Plan_Outline.pdf

                   About ArmorWorks Enterprises

Military armor systems provider ArmorWorks Enterprises, LLC, and
affiliate TechFiber LLC sought Chapter 11 protection (Bankr. D.
Ariz. Case Nos. 13-10332 and 13-10333) in Phoenix on June 17,
2013, along with a plan that resolves a dispute with a minority
shareholder and $3.5 million of financing that would save the
company from running out of cash.

ArmorWorks develops advanced survivability technology and designs
and manufactures armor and protective products.  ArmorWorks has
produced over 1.25 million ceramic armor and composite armor
protection components for a variety of personnel armor, aircraft,
and vehicle applications.

The Debtors have tapped Todd A. Burgess, Esq., at Gallagher &
Kennedy, as counsel; and MCA Financial Group, Ltd., as financial
advisor.  ArmorWorks estimated $10 million to $50 million in
assets and liabilities.

As of May 26, 2012, ArmorWorks had total assets of $30.9 million
and total liabilities of $12.04 million.

The Plan would resolve the ongoing dispute with C Squared by
allowing ArmorWorks to redeem C Squared's 40% minority interest,
or alternatively, allow C Squared to purchase the 60% majority
interest of AWI.

ArmorWorks and TechFiber sought and obtained an order (i)
transferring the In re TechFiber, LLC chapter 11 case to the
Honorable Brenda Moody Whinery, the judge assigned to the
ArmorWorks Chapter 11 case, and (ii) authorizing the joint
administration of the Debtors' cases.


ARRHYTHMIA RESEARCH: Gets NYSE MKT Listing Non-Compliance Notice
----------------------------------------------------------------
Arrhythmia Research Technology, Inc. on Aug. 23 disclosed that, on
August 20, 2013, it received notice from the NYSE MKT LLC that it
is not in compliance with certain of the Exchange's continued
listing standards as set forth in Sections 134 and 1101 of the
Exchange's Company Guide as a result of the failure to file its
interim report on Form 10-Q on a timely basis.  The Company has
therefore become subject to the procedures and requirements of
Section 1009 of the Company Guide.  Such procedures require the
Company to communicate with the Exchange by August 26, 2013 to
confirm receipt of the letter and indicate whether or not it
intends to submit a plan of compliance.  The Company intends to
submit a plan of compliance to the Exchange by September 3, 2013
in accordance with the notice advising the Exchange of action it
has taken or intends to take that will bring the Company into
compliance with Sections 134 and 1101 of the Company Guide by no
later than November 14, 2013.  If the plan is accepted but the
Company is not in compliance with the continued listing standards
of the Company Guide by November 14, 2013 or if the Company is not
making progress consistent with the plan, the Company may be
subject to delisting procedures.

            About Arrhythmia Research Technology, Inc.

Arrhythmia Research Technology, Inc. (NYSE MKT:HRT) --
http://www.arthrt.com-- through its wholly-owned subsidiary,
Micron Products, Inc. -- http://www.micronproducts.com-- has
diversified manufacturing capabilities with the capacity to
participate in full product life cycle activities from early stage
development and engineering from prototyping to full scale
manufacturing as well as packaging and product fulfillment
services.  Its subsidiary, Micron Products, Inc., also
manufactures silver plated and non-silver plated conductive resin
sensors and distributes metal snaps used in the manufacture of
disposable ECG, EEG, EMS and TENS electrodes.  The Company also
has developed and distributes a customizable proprietary signal-
averaging electrocardiography (SAECG) software used to diagnose
the risk of certain heart arrhythmias and that is reconfigurable
for a variety of hardware platforms.


ATARI INC: Committee Balks at Exclusivity Extension
---------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Atari, Inc., et al., asks the U.S. Bankruptcy Court for
the Southern District of New York to deny the Debtor's motion for
extension of their exclusivity periods.

According to the Committee, the Debtors' exclusivity must
terminate immediately so third-party, non-insiders could propose
their own plans of reorganization.  An extension of the Debtors'
exclusivity would serve only to further delay the re-marketing of
the Debtors' remaining assets while administrative expenses of the
estates continue to accrue.

As reported in the Troubled Company Reporter on Aug. 9, 2013,
Atari Inc. asked the Court to give the company another 60 days to
keep control of its Chapter 11 case, saying it won't be able to
meet a fast-approaching deadline to file a reorganization or
liquidation plan.  Law360 reported that the U.S. branch of French
holding firm Atari SA recently obtained court approval of its bid
to sell off its assets piece by piece, which Atari said
represented the best opportunity to maximize asset value for the
benefit of all stakeholders.

                          About Atari

Atari -- http://www.atari.com-- is a multi-platform, global
interactive entertainment and licensing company.  Atari owns
and/or manages a portfolio of more than 200 games and franchises,
including world renowned brands like Asteroids(R), Centipede(R),
Missile Command(R), Pong(R), Test Drive(R), Backyard Sports(R),
and Rollercoaster Tycoon(R).

Atari Inc. and its U.S. affiliates filed for Chapter 11 bankruptcy
(Bankr. S.D.N.Y. Lead Case No. 13-10176) on Jan. 21, 2013, to
break away from their unprofitable French parent company and
secure independent capital.

A day after its American unit filed for Chapter 11 bankruptcy
protection, Paris-based Atari S.A. took a similar measure under
Book 6 of that country's commercial code.  Atari S.A. said it
was filing for legal protection because its longtime backer
BlueBay has sought to sell its 29% stake and demanded repayment by
March 31 on a credit line of $28 million that it cut off in
December.

Peter S. Partee, Sr. and Michael P. Richman of Hunton & Williams
LLP are proposed to serve as lead counsel for the U.S. companies
in their Chapter 11 cases.  BMC Group is the claims and notice
agent.  Protiviti Inc. is the financial advisor.

Duff & Phelps Securities LLC serves as financial advisor to the
Official Committee of Unsecured Creditors.  Cathy Hershcopf, Esq.,
at Cooley LLP represents the Committee.


ATARI INC: Extends Control Over Ch. 11 Case for 30 Days
-------------------------------------------------------
Law360 reported that Atari Inc. received a New York bankruptcy
judge's approval to extend its control over its Chapter 11 case
for 30 days after resolving an objection from creditors who argued
that it's time for an outside party to submit a reorganization
plan.

According to the report, U.S. Bankruptcy Judge James M. Peck
signed off on the video game company's compromise with the
official committee of unsecured creditors that allows it until
Sept. 20 to file an exit plan without the threat of rival plans
being submitted.

Atari had initially asked for another 60 days to keep control of
its Chapter 11 case, saying it won't be able to meet a fast-
approaching deadline to file a reorganization or liquidation plan.

The U.S. branch of French holding firm Atari SA in early August
obtained court approval of its bid to sell off its assets piece by
piece, which Atari said represented the best opportunity to
maximize asset value for the benefit of all stakeholders.

                           About Atari

Atari -- http://www.atari.com-- is a multi-platform, global
interactive entertainment and licensing company.  Atari owns
and/or manages a portfolio of more than 200 games and franchises,
including world renowned brands like Asteroids(R), Centipede(R),
Missile Command(R), Pong(R), Test Drive(R), Backyard Sports(R),
and Rollercoaster Tycoon(R).

Atari Inc. and its U.S. affiliates filed for Chapter 11 bankruptcy
(Bankr. S.D.N.Y. Lead Case No. 13-10176) on Jan. 21, 2013, to
break away from their unprofitable French parent company and
secure independent capital.

A day after its American unit filed for Chapter 11 bankruptcy
protection, Paris-based Atari S.A. took a similar measure under
Book 6 of that country's commercial code.  Atari S.A. said it
was filing for legal protection because its longtime backer
BlueBay has sought to sell its 29% stake and demanded repayment by
March 31 on a credit line of $28 million that it cut off in
December.

Peter S. Partee, Sr. and Michael P. Richman of Hunton & Williams
LLP serve as lead counsel for the U.S. companies in their Chapter
11 cases.  BMC Group is the claims and notice agent.  Protiviti
Inc. is the financial advisor.

The Debtors won court approval to sell seven video-game franchises
for a total of about $5.1 million.

Duff & Phelps Securities LLC serves as financial advisor to the
Official Committee of Unsecured Creditors.  Cooley LLP serves as
the Committee's counsel.


AVALON OIL: Incurs $749K Net Loss in Fiscal Year Ended March 31
---------------------------------------------------------------
Avalon Oil & Gas, Inc., filed with the U.S. Securities and
Exchange Commission on Aug. 20, 2013, its annual report on Form
10-K for the fiscal year ended March 31, 2013.

Bernstein & Pinchuk LLP, in New York, expressed substantial doubt
about Avalon Oil's ability to continue as a going concern, citing
the Company's significant losses from operations since its
inception and working capital deficiency.

The Company reported a net loss of $749,314 on $163,574 of oil &
gas sales for the fiscal year ended March 31, 2013, compared with
a net loss of $737,154 on $253,882 of oil & gas sales for the
previous fiscal year.

The Company' balance sheet at March 31, 2013, showed $2.57 million
in total assets, $2.12 million in total liabilities, and
stockholders' equity of $442,088.

A copy of the Form 10-K is available at http://is.gd/Fpksb1

Minneapolis, Minn.-based Avalon Oil & Gas, Inc. OTC BB: AOGN)
acquires oil & gas producing properties that have proven reserves
and established in-field drilling locations with a combination of
cash, debt, and equity.


BAJA MINING: Incurs $10.7-Mil. Net Loss in Second Quarter
---------------------------------------------------------
Baja Mining Corp. reported a net loss of $10.7 million and
$28.3 million for the three and six months ended June 30, 2013,
compared with a net loss of $140.5 million and $170.7 million for
the three and six months ended June 30, 2012, respectively.

The Company's balance sheet at June 30, 2013, showed $25.5 million
in total assets, $12.7 million in total liabilities, and
shareholders' equity of $12.8 million.

                     Going Concern Uncertainty

The Company said that as at June 30, 2013, MMB remains in an Event
of Default.  Should MMB remain in an Event of Default and be
unable to negotiate an extension to the latest standstill
agreement that expired in May 2013, as a result of this (or any
other arising) default, the Remaining 2010 Project Finance Lenders
may exercise any combination of available remedies, including
accelerated payment demand of the debt facilities.

"Under the terms of the current senior lending facilities
completion guarantee, the Company is liable as a guarantor for its
proportionate obligation (70%) of the senior borrowings and any
amounts required under the economic completion guarantee.

"Critical factors, amongst others, impacting the likelihood of any
demand arising under the senior borrowing guarantee and,
therefore, the Company's ability to continue as a going concern,
include the following: (i) the continued funding to the Boleo
Project by the Consortium or KORES; (ii) the continued support of
the Remaining 2010 Project Financing Lenders in choosing not to
exercise any further remedies available to them under the Event of
Default; (iii) the agreement on a new standstill agreement and/or
the reinstatement or replacement of the Remaining 2010 Project
Financing; (iv) the completion of development of the Boleo
Project; and (v) establishing profitable operations.

"In addition, should the Company be required to repay to the
Consortium the refundable manganese deposit liability of
$10 million, it currently has insufficient funds available to
settle this liability.

"The success of these factors above cannot be assured and,
accordingly, there is substantial doubt about the Company's
ability to continue as a going concern."

A copy of the Company's interim consolidated financial statements
dated June 30, 2013, is available at http://is.gd/DO0JqR

A copy of the Management Discussion and Analysis for the second
quarter ended June 30, 2013, is available at http://is.gd/QAjNEa

                         About Baja Mining

Vancouver, Canada-based Baja Mining Corp. was incorporated on
July 15, 1985, under the Company Act (British Columbia).  The
Company's principal asset is its investment in the Boleo Project,
a copper-cobalt-zinc-manganese deposit located near Santa Rosalia,
Baja California Sur, Mexico.  The Project is currently under
construction, and surface and underground mining activities have
commenced.  Baja controlled and operated the Boleo Project up
until the change in control of Minera y Metalurgica del Boleo
S.A.P.I. de C.V. ("MMB") on Aug. 27, 2012.  In addition, the
Company intends to investigate and potentially pursue alternative
project opportunities (see "Cinto Colorado Option Agreement").

As at June 30, 2013, the Company owned a 15.7% interest in the
Project through its wholly owned Luxembourg subsidiary, Baja
International S.a r.l., which owns 100% of a Luxembourg
subsidiary, Boleo International S.a r.l., which in turn owned
15.7% of the shares of MMB.  MMB holds all mineral and property
rights in the Project.  As at June 30, 2013, the remaining 84.3%
of MMB was indirectly owned by members of a Korean consortium (the
"Consortium"), comprised of KORES, LS-Nikko Copper Inc., Hyundai
Hysco Co. Ltd., SK Networks Co. Ltd., and Iljin Materials Co.
Ltd., which acquired an initial 30% interest in June 2008.  During
the quarter ended June 30, 2013, after giving effect to
contributions by KORES, Baja's interest in MMB was reduced from
26.2% to 20.9% on April 18, 2013, and to 15.7% on May 10, 2013.
Subsequent to the quarter end, KORES contributed further funds to
MMB completing the Phase II Funding Requirement and reducing the
Company's interest in MMB to 10%.

Following the loss of control of MMB on Aug. 27, 2012, the Company
is no longer the operator of the Boleo Project and no longer has
day-to-day involvement in the management and development of the
Project.  The Company's current focus is on addressing outstanding
matters relating to the change of control in MMB and considering
alternative opportunities for the benefit of its stakeholders.


BERJAC OF OREGON: Pacific Continental Named Defendant in Suit
-------------------------------------------------------------
Northwest-based Pacific Continental Corporation, the holding
company for Pacific Continental Bank, on Aug. 23 disclosed that
Pacific Continental Bank, along with Holcomb Family Limited
Partnership, Fred "Jack" W. Holcomb, Holcomb Family Trust, Jones &
Roth, P.C. and Umpqua Bank, has been named as a defendant in a
lawsuit filed in Oregon on behalf of individuals who placed money
with Berjac of Oregon and Berjac of Portland, both currently in
Chapter 11 bankruptcy.  Per the complaint, damages sought are more
than $10 million.

"Although we can't discuss this matter in detail due to its legal
nature, be assured we take this matter very seriously.  While we
intend to vigorously defend against this lawsuit, we remain
unwavering in our 40-year plus commitment to our clients,
employees, shareholders and community partners," said Pacific
Continental CEO, Hal Brown.

                      About Berjac of Oregon

Berjac of Oregon filed a bare-bones Chapter 11 petition (Bankr. D.
Ore. Case No. 12-63884) in Eugene on Aug. 31, 2012.  Its
affiliate, Berjac of Portland, Oregon, also sought Chapter 11
bankruptcy protection.

Berjac -- http://www.berjac.com/-- has provided insurance premium
financing to insureds in the Western United States since 1963.
Michael S. Holcomb, owns the Berjac partnerships with his brother
Gary.

According to The Oregonian, on the date of the bankruptcy filing,
state regulators fined Berjac $900,000, saying that 275 investors
might have lost up to $35 million making risky loans to the
Holcombs' firms.  The Oregonian said state officials moved quickly
to issue a press release before the Labor Day weekend to warn
other investors of the firm's alleged illegal scheme and apparent
financial woes.

In cease-and-desist orders issued late August 2012, the Oregon
Division of Finance and Corporate Securities accused Berjac and
the Holcomb brothers of violating Oregon securities laws.  The
orders allege the Holcombs sold unsecured notes to investors
without registering them, getting a license or offering investors
a detailed prospectus.

Judge Frank R. Alley, III, presides over the case.  The Law
Offices of Keith Y. Boyd, Esq., serves as the Debtors' counsel.
Berjac of Oregon disclosed $5,412,444 in assets and $44,761,597 in
liabilities as of the Chapter 11 filing.

Thomas A. Huntsberger is appointed as the Chapter 11 trustee.
Thomas A. Geber and the law firm of Bullivant Houser Bailey,
P.C.O, serves as the trustee's general counsel.

The seven-member Official Committee of Unsecured Creditors is
represented by David B. Mills.


BIOLASE INC: Violates Bank Covenants; Faces Class Action in Calif.
------------------------------------------------------------------
Robbins Geller Rudman & Dowd LLP on Aug. 23 disclosed that a class
action has been commenced in the United States District Court for
the Central District of California on behalf of purchasers of
Biolase, Inc. common stock during the period between January 7,
2013 and August 12, 2013.

If you wish to serve as lead plaintiff, you must move the Court no
later than 60 days from August 23, 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/biolaseinc/
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 Biolase and certain of its officers and
directors with violations of the Securities Exchange Act of 1934.
Biolase manufactures and distributes dental lasers.

The complaint alleges that during the Class Period, defendants
issued false and misleading statements regarding Biolase's
business and future prospects.  Specifically, defendants failed to
disclose and/or concealed the following adverse facts during the
Class Period: (a) contrary to defendants' statements during the
Class Period, there is little evidence demonstrating the use of
dental lasers (instead of drills) provides long-term benefits to
teeth, and because both children and adults can have cavities
filled without the numbing injections Biolase claims its WaterLase
products preclude, only 5% of dental offices use dental lasers and
dentists were hesitant to adopt dental lasers -- especially
Biolase's -- because of their high costs; (b) due to the
relatively high costs associated with its dental laser offerings,
Biolase's efforts to switch to a direct sales model in the United
States during the Class Period were failing; (c) contrary to
defendants' Class Period statements, the high debt burden the
Company assumed to exit its arrangement with the former exclusive
distributor of its WaterLase products, coupled with the onerous
terms of certain of its Comerica lines of credit, were financially
handicapping the Company; and (d) contrary to defendants' Class
Period statements that "the cash generated from operations and the
borrowings available under the lines of credit with Comerica
[would] be sufficient to fund [Biolase's] working capital
requirements for 2013," there was no cash being generated from
operations and the Company was in default of its Comerica lines of
credit.

On August 7, 2013, Biolase issued a press release announcing its
second quarter 2013 financial results.  Rather than the $15.69
million in revenues defendants had led the market to expect,
Biolase reported revenues of just $14.2 million -- down 2.74% from
the $14.6 million the Company had reported in the fourth quarter
2012 -- and a loss of $.06 per share.  Then, on August 13, 2013,
before the markets opened, the Company disclosed that it was in
violation of its bank covenants.  On the news of the revenue and
earnings misses and the Company's violation of prior debt
covenants, the price of Biolase common stock, which had traded as
high as $6.05 per share in intraday trading during the Class
Period, fell more than 80% from that level to close at $1.19 per
share on August 13, 2013.

Plaintiff seeks to recover damages on behalf of all purchasers of
Biolase 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.

                       About BIOLASE, Inc.

Irvine, Calif.-based BIOLASE, Inc., incorporated in Delaware in
1987, is a biomedical company that develops, manufactures, and
markets lasers in dentistry and medicine.  The Company currently
operates in one business segment with laser systems that are
designed to provide clinically superior performance for many types
of dental procedures with less pain and faster recovery times than
are generally achieved with drills, scalpels, and other dental
instruments.  The Company also markets and distributes dental
imaging equipment and other products designed to improve
technologies for applications and procedures in dentistry and
medicine.


BLUEJAY PROPERTIES: Settles Motion for Trustee Appointment, et al.
------------------------------------------------------------------
The Hon. Robert D. Berger of the U.S. Bankruptcy Court for the
District of Kansas gave his stamp of approval on the compromise
and settlement among Bluejay Properties, LLC, creditor Kaw Valley
Bank, creditor University National Bank, creditor Banker's Bank of
Kansas, the Larkin parties and the U.S. Trustee.

Bankruptcy Judge Berger said that no objections were received
prior to the objection deadline, however, creditor KVB filed a
response, and the Court has reviewed and heard statements of
counsel in regards to that response.

On July 11, 2013, the Debtor, BBOK and UNB met to determine a
course of action for the plan of liquidation in the case.  From
that meeting, the parties were able to arrive at a settlement.

The compromise and settlement is in the best interests of the
Debtor and the Chapter 11 estate as it will enable the Debtor to
liquidate its property in an orderly and appropriate fashion, and
provide certainty for the creditors in the case.

As a result of the compromise and settlement, the motion to
appoint trustee, motion to terminate asset manager, motion to
require closing of real estate contract are denied.  The Court
also approves the application to employ CBRE, through its
individual brokers, Jeff Stingley and Gina Anderson as property
broker to assist in the selling of the Debtor's apartment complex.

The Debtor will pay the broker a two percent commission from the
proceeds of the sale of the Debtor's real estate.  If the sale is
not completed, pursuant to the contract, the Debtor would only be
responsible for marketing costs not to exceed $1,500.

In addition, the Court approved the motion to continue the
Debtor's use of cash collateral.

Patricia Hamilton, Esq. -- phamilton@stevensbrand.com -- of
Stevens & Brand, LLP represents KVB; Edward J. Nazar, Esq. --
ednazar@redmondnazar.com -- of Redmond & Nazar, L.L.P represents
UNB; and Arthur S. Chalmers, Esq. -- chalmers@hitefanning.com --
of Hite, Fanning & Honeyman, L.L.P. represents BBOK; Benoit M.J.
Swinnen, Esq. -- ben@swinnenlaw.com -- of Swinnen & Associates,
LLC represents the Larkin parties; and Joyce Owen represents the
U.S. Trustee.

                     About Bluejay Properties

Based in Junction City, Kansas, Bluejay Properties, LLC, doing
business as Quinton Point, filed a bare-bones Chapter 11 petition
(Bankr. D. Kan. Case No. 12-22680) in Kansas City on Sept. 28,
2012.  Bankruptcy Judge Robert D. Berger presides over the case.
Todd A. Luckman, Esq., and Kathryn E. Sheedy, Esq., at Stumbo
Hanson, LLP in Topeka.

The Debtor owns the Quinton Point Apartment Complex in Kansas City
valued at $17 million.  The Debtor scheduled liabilities of
$13,112,325.  The petition was signed by Michael L. Thomas of TICC
Prop., managing member.

Bankers' Bank of Kansas, owed approximately $13.08 million, is
represented by Arthur S. Chalmers of Hite, Fanning & Honeyman,
LLP.  The University National Bank, owed approximately
$1.2 million, is represented by Edward J. Nazar of Redmond &
Nazar, L.L.P., and Todd Thompson of Thompson Ramsdell & Qualseth,
P.A.


BUFFALO PARK: Joint Plan Filing Deadline Extended Until Aug. 30
---------------------------------------------------------------
Ronald P. Lewis and Carol Lewis, and Buffalo Park Development
Properties, Inc. et al., sought and obtained an extension until
Aug. 30, 2013, of the deadline to file their Joint Plan of
Reorganization and disclosure statement.

The deadline for parties-in-interest to file any objections to the
adequacy of the Debtors' Disclosure Statement is extended from
Aug. 30, 2013, to Sept. 13, 2013.

On July 2, 2013, the court held a status and scheduling conference
in the Lewis case on several pending matters, including the Lewis
Second Amended Disclosure Statement.  At that hearing, counsel for
Lewis advised the Court that the Debtors intend to file a Joint
Plan and Disclosure Statement and would be requesting joint
administration of their cases.

A hearing on the Debtor's disclosure statement was previously set
for Tuesday, Sept. 10 at 9:00 a.m. in Courtroom C203, Byron G.
Rogers U.S. Courthouse, 1929 Strout Street, Denver, Colorado.
That hearing has now been rescheduled to Sept. 24 at 11:15 a.m.

On July 15, 2013, the Debtors filed a motion for joint
administration of their cases, which the Court granted on July 18.

Since the status and scheduling conference on July 2, the Lewis
and Colorado Community Bank entered into a Stipulation which
granted CCB relief from the automatic stay and resolved CCB's
objections to the Lewis plan and disclosure statement.

Buffalo Park has been attempting to reach agreements with its
primary secured lenders, CCB and Mutual Omaha.  Offers have been
exchanged and the parties are working toward a resolution of
claims.

The Debtors sought a brief extension of the deadline to file their
Joint Plan and Disclosure Statement to the enable parties to
continue their discussion in the hopes that the Debtors will be
able to propose a Joint Plan and Disclosure Statement that
incorporates any agreements reached.  This requested extension
will result in fewer, if any, revisions to the Joint Plan and
Disclosure Statement as the cases move forward toward
confirmation.  A resolution for the Mutual Omaha claim would also
resolve the pending motion for relief from stay set for final,
evidentiary hearing on Sept. 25, 2013.

Attorneys for the Debtors can be reached at:

         Jeffrey S. Brinen, Esq.
         Leigh A. Flanagan, Esq.
         KURTNER MILLER BRINEN, P.C.
         303 East 17th Avenue, Suite 500
         Denver, CO 80203
         Tel: (303) 832-2400
         Fax: (303) 832-1510
         E-mail: laf@kutnerlaw.com

Attorneys for Buffalo Park can be reached at:

         Robert Padjen, Esq.
         LAUFER AND PADJEN, LLC
         5290 DTC Parkway, Suite 150
         Englewood, CO 80111
         Tel: (303) 830-3173
         Fax: (303) 830-3135
         E-mail: laf@kutnerlaw.com

Buffalo Park Development Properties, Inc., filed a Chapter 11
petition (Bankr. D. Colo. Case No. 13-17669) on May 7, 2013.
Ronald P. Lewis signed the petition as owner and CEO.  Buffalo
Park disclosed $20,777,601 assets and $11,294,567 liabilities in
its schedules.  Robert Padjen, Esq., at Laufer and Padjen LLC
serves as counsel to Buffalo Park. Judge Elizabeth E. Brown
presides over the case.

U.S. Trustee Richard A. Wieland has been unable to appoint an
official committee of unsecured creditors in the Debtor's Chapter
11 case because there were too few unsecured creditors who were
willing to serve on the creditors' committee.


CAESARS ENTERTAINMENT: Bank Debt Trades at 10% Off
--------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
89.84 cents-on-the-dollar during the week ended Friday, August 23,
2013, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
a decrease of 0.47 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 525 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on Jan. 1, 2018.  The bank debt carries Moody's B3 rating and
Standard & Poor's B- rating.  The loan is one of the biggest
gainers and losers among 249 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Friday.

                      About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.
-- http://www.caesars.com/-- is one of the world's largest casino
companies, with annual revenue of $4.2 billion, 20 properties on
three continents, more than 25,000 hotel rooms, two million square
feet of casino space and 50,000 employees.  Caesars casino resorts
operate under the Caesars, Bally's, Flamingo, Grand Casinos,
Hilton and Paris brand names.  The Company has its corporate
headquarters in Las Vegas.

Harrah's announced its re-branding to Caesar's on mid-November
2010.

The Company incurred a net loss of $1.49 billion on $8.58 billion
of net revenues for the year ended Dec. 31, 2012, as compared with
a net loss of $666.70 million on $8.57 billion of net revenues
during the prior year.  As of June 30, 2013, the Company had
$26.84 billion in total assets, $27.58 billion in total
liabilities and a $738.1 million total deficit.

                           *     *     *

Caesars Entertainment carries a 'CCC' long-term issuer default
rating, with negative outlook, from Fitch and a 'Caa1' corporate
family rating with negative outlook from Moody's Investors
Service.

As reported in the TCR on Feb. 5, 2013, Moody's Investors Service
lowered the Speculative Grade Liquidity rating of Caesars
Entertainment Corporation to SGL-3 from SGL-2, reflecting
declining revolver availability and Moody's concerns that Caesars'
earnings and cash flow will remain under pressure causing the
company's negative cash flow to worsen.

In the May 7, 2013, edition of the TCR, Standard & Poor's Ratings
Services said that it lowered its corporate credit ratings on Las
Vegas-based Caesars Entertainment Corp. (CEC) and wholly owned
subsidiary Caesars Entertainment Operating Co. (CEOC) to 'CCC+'
from 'B-'.

"The downgrade reflects weaker-than-expected operating performance
in the first quarter, and our view that Caesars' capital structure
may be unsustainable over the next two years based on our EBITDA
forecast for the company," said Standard & Poor's credit analyst
Melissa Long.


CALDERA PHARMACEUTICALS: Incurs $1-Mil. Net Loss in Second Quarter
------------------------------------------------------------------
Caldera Pharmaceuticals, Inc., reported a net loss of $1.0 million
and $1.8 million for the three and six months ended June 30, 2013,
compared with a net loss of $315,853 and $629,347 for the three
and six months ended June 30, 2012.

Sales were $82,881 and $320,295 for the three and six months ended
June 30, 2013, compared with sales of $493,288 and $871,025 for
the three and six months ended June 30, 2012.

The Company's balance sheet at June 30, 2013, showed $2.9 million
in total assets, $3.4 million in total liabilities, $133,350 of
Series A Cumulative Convertible Redeemable Preferred Stock, and a
stockholders' deficit of $635,724.

The Company said: "We have generated losses to date and have
limited working capital.  We incurred a net loss of for the six
months ended June 30, 2013, of $(1,810,498).  At June 30, 2013, we
had an accumulated deficit of $(10,654,430) and a working capital
deficiency of $(1,107,739).  We have generated losses to date and
have limited working capital.  At Dec. 31, 2012, we had an
accumulated deficit of $(6,967,435) and a working capital
deficiency of $(742,499).  We incurred a net loss of for the year
ended Dec. 31, 2012, of $(792,061) and for the year ended Dec. 31,
2011, of $(2,152,923). These factors raise substantial doubt about
our ability to continue as a going concern."

A copy of the Form 10-Q is available at http://is.gd/9GI1sY

Based in Cambridge, Massachusetts, Caldera Pharmaceuticals, Inc.,
is a drug discovery and pharmaceutical services company that is
based on a proprietary x-ray fluorescence technology, called
XRpro(R).


CALIBRE ACADEMY: Fitch Keeps 'B' Bond Rating on Watch Negative
--------------------------------------------------------------
Fitch Ratings has maintained the Negative Rating Watch on the 'B'
rating assigned to approximately $16.5 million in outstanding
education revenue refunding bonds for Calibre Academy (Calibre,
the school) - formerly Carden Traditional Schools (CTS) project,
series 2012, issued by the Industrial Development Authority of the
County of Pima (AZ).

RATING WATCH NEGATIVE: Maintenance of the Negative Watch reflects
Calibre's going concern note as a result of a severely
deteriorated financial position in fiscal 2012 and no additional
disclosure since Fitch's last review on June 5, 2013. The interim
financial performance of both E-Institute Charter School Inc.,
(EICS; the guarantor) and Calibre is inconclusive, and does not
currently indicate the combined entity's ability to cover
transaction maximum annual debt service (TMADS). Fitch expects
updated information regarding fiscal 2013 operations for both
Calibre and EICS in the coming months but believes substantial
near-term improvement is unlikely at Calibre. Fitch also considers
EICS' wherewithal and operations insufficient to support Calibre's
operations indefinitely.

RATING SENSITIVITIES

FAILURE OF COVERAGE TEST: The loan agreement for the bonds states
that less than sum-sufficient TMADS coverage from the combined
entity (Calibre and EICS) for the fiscal year that began July 1,
2012 would constitute an event of default (EOD). According to
terms of the loan agreement and indenture for the bonds, the
trustee could implement accelerated redemption provisions if
bondholders do not waive the EOD. In such a scenario, Fitch would
likely downgrade the bonds to at least 'CCC' and keep the bonds on
Rating Watch Negative.

INADEQUATE PROGRESS TOWARDS FISCAL BALANCE: Calibre's management
began implementing various expense reduction measures into fiscal
2013. Fitch does not anticipate breakeven operations this year,
and a lack of meaningful fiscal improvement at Calibre, or EICS'
inability to stand behind its guarantee of the charter school's
debt, could make a payment default a real possibility. Annual debt
service coverage in fiscal 2012 was an adequate 1.4x. The next
annual debt service payment of $1.36 million is due on Jan. 1,
2014 and according to trustee comments received at the June
review, scheduled deposits are being made to the debt service
account without interruption. The debt service reserve, funded at
issuance, totals $1.38 million.

TIMELY INFORMATION: Calibre has not posted interim disclosure in
the past quarter, which Fitch believes is likely due to the change
in the financial and reporting manager function. Maintenance of
the current rating is contingent upon the receipt of timely and
relevant information going forward.


CHINA CEETOP.COM: Incurs $293K Net Loss in Second Quarter
---------------------------------------------------------
China Ceetop.com, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $293,230 on $0 sales for the three months
ended June 30, 2013, compared with a net loss of $274,180 on
$1.3 million of sales for the same period last year.

The Company reported a net loss of $502,999 on $0 sales for the
six months ended June 30, 2013, compared with a net loss of
$512,479 on $2.6 million of sales for the corresponding period of
2012.

The 100% decrease in net sales was due to the Company's transition
from online retail sales to B to B supply chain service.

The Company' balance sheet at June 30, 2013, showed $3.5 million
in total assets, $4.0 million in total liabilities, and a
stockholders' deficit of $463,482.

                     Going Concern Uncertainty

"For the year ended Dec. 31, 2012, our independent auditors, in
their report on the financial statements, have indicated that the
Company has experienced recurring losses from operations and may
not have enough cash and working capital to fund its operations
beyond the very near term, which raises substantial doubt about
our ability to continue as a going concern.  Management has made a
similar note in the financial statements.  As indicated herein, we
must raise capital for the implementation of our business plan,
and we will need additional capital for continuing our operations.
We do not have sufficient revenues to pay our expenses of
operations.  Unless the Company is able to raise working capital,
it is likely that the Company either will have to cease operations
or substantially change its methods of operations or change its
business plan."

A copy of the Form 10-Q is available at http://is.gd/cQveKQ

Shenzhen, China-based China Ceetop.com, Inc., is an Oregon-
registered corporation.  Before 2013 the company owned and
operated the online retail platform, http://www.ceetop.com/
Due to excessive competition in online retail, the Company has
transformed itself into an integrated supply chain services
provider, and focuses on Business to Business "B to B" supply
chain management and related value-added services among
enterprises.


CHINA LOGISTICS: Incurs $493K Net Loss in Second Quarter
--------------------------------------------------------
China Logistics Group, Inc., filed its quarterly report on Form
10-Q, reporting a net loss of $492,809 on $3.49 million of sales
for the three months ended June 30, 2013, compared with net income
of $136,242 on $6.20 million of sales for the same period last
year.

The Company reported a net loss of $307,624 on $6.89 million of
sales for the six months ended June 30, 2013, compared with net
income of $695,507 on $11.57 million of sales for the same period
of 2012.

The decrease in net income for the second quarter and first six
months of 2013, respectively, was primarily due to lower revenues
and gross profits and an increase in interest expense and bad debt
expense.

The Company' balance sheet at June 30, 2013, showed $3.55 million
in total assets, $3.57 million in total liabilities, and a
stockholders' deficit of $17,822.

The Company said: "The Company has an accumulated deficit of
$20,553,440 at June 30, 2013, and a working capital deficit of
$138,121 at June 30, 2013.  During the six months ended June 30,
2013, the Company used cash in operating activities of $82,417.
The Company has incurred net (loss) income of $(307,624) and
$695,507 for the six months ended June 30, 2013, and 2012,
respectively.  The Company's ability to continue as a going
concern is dependent upon its ability to generate profitable
operations in the future and to obtain any necessary financing to
meet its obligations and repay its liabilities arising from normal
business operations when they come due.  The outcome of these
matters cannot be predicted at this time.  These matters raise
substantial doubt about the ability of the Company to continue as
a going concern."

A copy of the Form 10-Q is available at http://is.gd/1DhxCC

Shanghai, China-based China Logistics Group, Inc., is a Florida
corporation and was incorporated on March 19, 1999, under the name
of ValuSALES.com, Inc.  The Company changed its name to Video
Without Boundaries, Inc., on Nov. 16, 2001.  On Aug. 31, 2006, it
changed its name from Video Without Boundaries, Inc., to
MediaReady, Inc., and on Feb. 14, 2008, it changed its name from
MediaReady, Inc., to China Logistics Group, Inc.

On Dec. 31, 2007, the Company entered into an acquisition
agreement with Shandong Jiajia International Freight and
Forwarding Co., Ltd., and its sole shareholders Messrs. Hui Liu
and Wei Chen, through which the Company acquired a 51% interest in
Shandong Jiajia.  The transaction was accounted for as a capital
transaction, implemented through a reverse recapitalization.

Shandong Jiajia, formed in 1999 as a Chinese limited liability
company, is an international freight forwarder and logistics
management company.  Headquartered in Qingdao, Shandong Jiajia has
branches in Shanghai, Xiamen, Lianyungang and Tianjin with
additional sales office in Rizhao.


CIRTRAN CORP: Reports $1.7-Mil. Net Income in Second Quarter
------------------------------------------------------------
CirTran Corporation reported net income of $1.7 million and
$1.3 million for the three and six months ended June 30, 2013,
compared with a net loss of $705,487 and $2.0 million for the
three and six months ended June 30, 2012, respectively.

Sales were $1.1 million and $2.0 million for the three and six
months ended June 30, 2013, compared with sales of $315,755 and
$934,455 for the three and six months ended June 30, 2012.

The Company said: "We recorded a gain of $365,222 on our
derivative valuation for the three months ending June 30, 2013, as
compared to a loss of $32,925 recorded for the three months ended
June 30, 2012.  We recorded a gain of $371,066 on our derivative
valuation for the six months ended June 30, 2013, as compared to a
loss of $166,530 recorded for the six months ended June 30, 2012.
The swing in the derivative valuation is primarily the result of
the change in estimating the fair value of convertible debentures
and associated warrants from using the Black-Scholes model to a
multinomial lattis model, together with the varying market values
of our common stock.

"We recorded a gain of $1,443,557 on our settlement of debt for
the six months ended June 30, 2013.  We recorded a gain of
$1,405,205 on our settlement of debt for the three months ended
June 30, 2013.  This was a result of settling payable, accrued
liabilities and debt for equity and relief of about $1.4 million
in amounts due LIB-MP.  See Notes 5 and 10, in the notes to the
unaudited financial statements above for more details."

The Company's balance sheet at June 30, 2013, showed $1.3 million
in total assets, $24.6 million in total liabilities, and a
stockholders' deficit of $23.3 million.

"The Company had a net income of $1,262,866 and a net loss of
$1,993,583 for the six months ended June 30, 2013, and 2012,
respectively.  As of June 30, 2013, the Company had an accumulated
deficit of $48,089,198.  In addition, the Company provided cash by
operations in the amount of $15,948 during the six months ended
June 30, 2013, and used cash in operations in the amount of
$531 during the six months ended June 30, 2012.  The Company also
had a negative working capital balance of $23,788,078 as of
June 30, 2013, and $26,458,490 as of December 31, 2012.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern," according to the regulatory filing.

A copy of the Form 10-Q is available at http://is.gd/bEyhNM

West Valley City, Utah-based CirTran Corporation manufactures,
markets, and distributes domestically and internationally an
energy drink under a license, now in dispute, with Playboy
Enterprises, Inc., or Playboy, and in the U.S., it provides a mix
of high- and medium-volume turnkey manufacturing services and
products using various high-tech applications for leading
electronics OEMs in the communications, networking, peripherals,
gaming, law enforcement, consumer products, telecommunications,
automotive, medical, and semiconductor industries.  Its services
include pre-manufacturing, manufacturing, and post-manufacturing
services.  Its goal is to offer customers the significant
competitive advantages that can be obtained from manufacture
outsourcing.


COGECO CABLE: DBRS Confirms Issuer Rating at 'BB'
-------------------------------------------------
DBRS Inc. has confirmed Cogeco Cable Inc.'s Issuer Rating at BB
(high), its Senior Secured Notes & Debentures rating at BBB (low),
with a recovery rating of RR1, and its Senior Unsecured Notes
rating at BB, with a recovery rating of RR5.  All trends remain
Stable.  The confirmation reflects the Company's ability and
willingness to reduce financial leverage by a meaningful degree
(i.e., to a range of 3.1 to 3.5 times (x), from 3.7x currently)
within the next 12 months, following the recent debt-financed
acquisitions of PEER 1 Network Enterprises (PEER 1) and Atlantic
Broadband Group, LLC (ABB).  The ratings continue to be supported
by the Company's established footprint in existing markets and the
growth potential of data services, while reflecting increasing
competition in Canada and the Company's maturing cable subscriber
base.

Cogeco's Canadian operations remained fairly stable, as a result
of relative steady operating results from its Canadian subscriber
base and the ongoing integration of recent acquisitions.  DBRS
notes that revenue growth over the past year was primarily a
result of rate increases as Cogeco's Canadian cable television
subscriber base has continued its trajectory of declines quarter
over quarter, while subscriber growth in high-speed internet and
telephony subscribers has decelerated.

After Cogeco's acquisition of Atlantic Broadband in 2012, DBRS
assigned the Company an Issuer Rating of BB (high).  DBRS believed
Cogeco was best positioned in the BB (high) rating category, based
on the execution risk and increased financial leverage associated
with the acquisition, combined with the existing pressure on its
Canadian subscriber base.  In early 2013, DBRS confirmed Cogeco's
ratings following its acquisition of PEER 1, as DBRS believed
encouraging growth prospects may help supplant slowing growth and
potential declines from a maturing cable segment.  DBRS notes
Cogeco's substantial increase in leverage after its two debt-
financed acquisitions.  Cogeco's gross debt-to-EBITDA ratio
increased to 3.1x from 1.6x following the ABB acquisition, rising
further to 3.8x as a result of the Peer 1 purchase.

DBRS expects the earnings profile of Cogeco to remain relatively
stable in the near term as the Company continues to focus on
acquisition integration and execution.  DBRS will continue to
focus on the competitive landscape, Cogeco's Canadian subscriber
base and the operating performance of Cogeco's acquisitions going
forward.  Although Cogeco currently benefits from limited overlap
with its telco competitors, the Company must continue to enhance
its service offerings as IPTV deployment expands.  The Company
must also focus on growing its ABB operations and expanding its
data services offerings to diversify its revenue streams over the
longer term.

DBRS expects the Company's financial profile to become consistent
with its current rating categories, based on the strength of its
cash generating capacity and the Company's willingness and ability
to de-lever.  DBRS believes Cogeco will decrease leverage by a
meaningful degree (i.e., to a range of 3.1x to 3.5x, from
approximately 3.7x currently) within 12 months through EBITDA
growth and the use of free cash flow after dividends to reduce
bank debt by at least $150 million (on a consolidated basis) in
F2014.

DBRS has concluded that holders of the Senior Secured Notes &
Debentures could likely recover 100% of their value in a default
scenario, a level that corresponds with a recovery rating of RR1.
In accordance with the criteria DBRS Recovery Ratings for Non-
Investment Grade Corporate Issuers, DBRS has confirmed a security
rating of BBB (low) for Cogeco's Senior Secured Notes &
Debentures, one notch above the Issuer Rating of BB (high).  DBRS
has also concluded that the holders of the Senior Unsecured Debt
could likely recover 10% to 30% of their value in a default
scenario, a level that corresponds with a recovery rating of RR5.
Also in accordance with these criteria, DBRS has confirmed a
security rating of BB for Cogeco's Senior Unsecured Debt, one
notch below the Issuer Rating of BB (high).


COLDWATER PORTFOLIO: U.S. Bank Withdraws Proposed Exit Plan
-----------------------------------------------------------
U.S. Bank National Association notified the U.S. Bankruptcy Court
for the Northern District of Indiana that it has withdrawn as moot
the Chapter 11 Plan for Coldwater Portfolio Partners, LLC, in
light of the order confirming the joint Chapter 11 Plan filed by
the Debtor and the lenders.  The hearing set for approval of the
Disclosure Statement is canceled and removed from the Court's
calendar.

U.S. Bank is the successor trustee for GS Mortgage Securities
Corporation II, Commercial Mortgage Pass-Through Certificates,
Series 2006-G G6 and RBS, secured creditors.

In a separate notice, the Debtor withdrew its motion to expand the
use of cash collateral and its disclosure Statement as moot.

As reported in the Troubled Company Reporter on July 23, 2013, the
Debtor and the lender won confirmation of their plan on July 17,
2013.  The bankruptcy judge also approved the adequacy of the
disclosure statement in explaining the terms of the Plan.

As reported in the TCR on June 5, 2013, the Joint Plan calls for
unsecured creditors with $225,000 in claims to be paid 44 percent.
Properties will be transferred to a liquidating trust, with sale
proceeds earmarked for the lenders.  If they wish, the lenders may
buy the properties using debt rather than cash.

Two plans were originally filed in the case.  The Debtor's Plan
provides that the Debtor will reorganize with the help of
financing proposed by N3 retail Investors, LLC, as the plan
sponsor.  The Lenders' Plan provides for the orderly sale or other
disposition of the Debtor's Property and other assets, the payment
in full of all allowed administrative claims and priority claims
in the Chapter 11 case and guarantees that unsecured trade
creditors receive no less than a pro rata share of $100,000.

                     About Coldwater Portfolio

Coldwater Portfolio Partners LLC filed a voluntary Chapter 11
petition (Bankr. N.D. Ind. Case No. 12-31182) on April 4, 2012.
CPP, a limited liability company organized under the laws of the
state of Delaware, was formed in January 2006 with the purpose of
owning and operating 38 commercial real estate properties.  The
majority of the properties are shadow retail centers located
adjacent to Wal-Mart Supercenters throughout the Midwest and
Southern States.  The Debtor has developed relationships with
nationwide retailers who operate local stores at the Shadow Retail
Centers, including Dollar Tree, Game Stop, Sally Beauty, and
Fashion Bug.  The Shadow Retail Centers are particularly
attractive commercial retail properties with business arising from
the Wal-Mart customer traffic.

Bankruptcy Judge Harry C. Dees, Jr., oversees the case.  Forrest
B. Lammiman, Esq., and David L. Kane, Esq., at Meltzer, Purtill &
Stelle LLC, serve as the Debtor's counsel.  Variant Capital
Advisors LLC provides investment banking services to the Debtor.
In its schedules, CPP disclosed $43,795,511 in assets and
$73,808,077 in liabilities as of the Petition Date.

CPP is a subsidiary of CPP Holdings LLC.  Kenneth S. Klein,
manager of CPP, signed the Chapter 11 petition.  A related entity,
Coldwater Portfolio Partners II, LLC, owns and operates nine
shadow retail centers in the Midwest and Southern United States.
Klein Retail Centers, Inc. is the parent of Coldwater II.


COMMONWEALTH BIOTECHNOLOGIES: Conn. Court Dismisses "Chien" Suit
----------------------------------------------------------------
Connecticut District Judge Alvin W. Thompson on Wednesday
dismissed the pro se complaint originally brought by Andrew Chien
in Connecticut Superior Court against Commonwealth
Biotechnologies, Inc., Dr. Richard J. Freer, and LeClairRyan, A
Professional Corporation, for malicious prosecution, abuse of
process, "bad faith and submitted falsified or perjury
information," unjust enrichment, securities fraud, violations of
fiduciary duties and "manipulation operation."  The defendants
removed the case to the District Court pursuant to 28 U.S.C. Sec.
1441(b) based on diversity jurisdiction and filed two motions to
dismiss.  Defendant Freer has moved to dismiss the complaint
pursuant to Rules 12(b)(2) and 12(b)(3) of the Federal Rules of
Civil Procedure, and all defendants have moved to dismiss the
complaint pursuant to Rule 12(b)(6).

On Oct. 16, 2012, the Court dismissed the case without prejudice
as to CBI because CBI "filed a Voluntary Chapter 11 Bankruptcy
Petition, and therefore proceedings against [CBI] are subject to
the automatic stay pursuant to Sec. 362 of the Bankruptcy Code."

A copy of the Court's Aug. 21, 2013 Ruling is available at
http://is.gd/5bohYrfrom Leagle.com.

The case is, ANDREW CHIEN, Plaintiff, v. COMMONWEALTH
BIOTECHNOLOGIES, INC., RICHARD FREER AND LECLAIRRYAN, A
PROFESSIONAL CORPORATION, Defendants, Civil No. 3:12CV1378(D.
Conn.).

Richard J. Freer and LeClairRyan are represented by Joaquin L.
Madry, Esq., at LeClairRyan.

               About Commonwealth Biotechnologies

Based in Midlothian, Virginia, Commonwealth Biotechnologies, Inc.,
was a specialized life sciences outsourcing business that offered
cutting-edge expertise and a complete array of Peptide-based
discovery chemistry and biology products and services through its
wholly owned subsidiary Mimotopes Pty Limited.

Commonwealth Biotechnologies Inc. filed for Chapter 11 bankruptcy
protection (Bankr. E.D. Va. Case No. 11-30381) on Jan. 20, 2011.
Judge Kevin R. Huennekens presides over the case.  Paula S. Beran,
Esq., at Tavenner & Beran, PLC, represents the Debtor.  The Debtor
estimated both assets and debts of between $1 million and
$10 million.

On March 29, 2013, the Bankruptcy Court entered an order
confirming the company's Plan of Reorganization.  On April 17, the
Company disclosed that its Plan has become effective April 15.
Pursuant to the plan, CBI is in the process of finalizing
definitive documentation with HedgePath, LLC, a drug development
company focused on cancer therapies, pursuant to which HedgePath
will contribute the intellectual property assets relating to its
business to CBI in exchange for a new class of preferred stock
representing 90% of the outstanding voting stock of CBI on a
fully-diluted basis.  When the transaction is consummated, CBI's
current shareholders will retain a 10% equity interest in the new
entity and will retain one seat on the Board of Directors of CBI,
which is expected to be renamed HedgePath Pharmaceuticals, Inc.

On April 7, 2011, the Bankruptcy Court approved the private sale
of Mimotopes for a gross sales price of $850,000.  The sale closed
on April 29, 2011.  Mimotopes was deconsolidated during the second
quarter of 2011.

During the bankruptcy, CBI also sold its real property holdings in
Chesterfield County, Virginia.

The Company's balance sheet at June 30, 2012, showed $1.20 million
in total assets, $1.79 million in total liabilities, and a
$598,484 total stockholders' deficit.

On Aug. 19, 2013, HedgePath disclosed that it has completed a
series of transactions to effectuate the reorganization of
Commonwealth Biotechnologies and CBTI's exit from its Chapter 11
proceedings via a Plan of Reorganization that will enable HPPI to
operate as a public company.


COMMONWEALTH REIT: Moody's Revises Ratings Outlook to Negative
--------------------------------------------------------------
Moody's Investors Service has affirmed CommonWealth REIT's Baa3
senior unsecured rating and revised the outlook to negative from
stable. The negative outlook reflects the office REIT's weak
operating performance, which is expected to persist for the
intermediate term as it works to address a large number of
challenged properties in its portfolio.

The following ratings were affirmed with a negative outlook:

CommonWealth REIT -- senior unsecured debt at Baa3; preferred
stock at Ba1; senior unsecured shelf at (P)Baa3; preferred stock
shelf at (P)Ba1.

Ratings Rationale:

CWH's wholly-owned portfolio was a modest 85.8% occupied as of
2Q13 (excluding 70 very weak assets being held for sale) and it
continues to contend with high capital costs in conjunction with
its leasing activities. The REIT's operating performance remains
impeded by a large number of non-core assets it has identified as
challenged, with high vacancy and limited prospects for cash flow
improvement.

Moody's notes that CWH has made good progress in executing its
business plan to dispose of its weakest assets and accelerate its
transition to becoming an office REIT focused on second tier CBD
markets (CBD properties comprised 58% of wholly-owned NOI for
2Q13). The REIT sold 24 assets in the first half of 2013, with 70
remaining held for assets expected to be sold by year end. Once it
has disposed of this bottom tranche, CWH has identified about
another 150 non-core assets that are cash flowing but challenged
with high vacancy and weak market locations. Moody's would view
positively the REIT's ability to make substantial progress with
these assets, either through disposition or lease up, over the
next twelve months.

Positively, Moody's notes that CWH has taken substantial steps to
improve its credit profile as it undergoes its portfolio
transition. In 1Q13, the REIT issued $627 million of common equity
and raised another $240 million by selling its stake in Government
Properties Income Trust (GOV). CWH used much of these combined
proceeds to tender for $670 million of bonds. As a result, CWH's
leverage as measured by Net Debt/EBITDA declined to 6.1x for 2Q13,
down from 7.6x in 2012. Fixed charge coverage improved to 2.5x for
2Q13, up from 2.2x for 2012.

CWH's liquidity profile is adequate. The REIT has $120 million of
debt maturities in 2014 and $332 million in 2015. 2016 maturities
are much more significant with $964 million coming due. Sources of
liquidity include its $750 million unsecured line of credit ($135
million drawn at 2Q13), 22 million publicly traded common shares
of Select Income REIT (NYSE-SIR), and $65 million cash as of 2Q13.

Moody's continues to monitor the arbitration proceedings and
shareholder activist campaign underway, which Moody's feels has
been a distraction for CWH's management and Board of Trustees.

A return to stable would likely reflect improving core occupancy
trends and substantial progress in repositioning its portfolio
resulting in an improved long-term growth profile. Sustaining Net
Debt/EBITDA below 6.5x and fixed charge coverage above 2.5x would
also be necessary to return to stable.

A downgrade would be precipitated by continued negative operating
trends or strategic missteps, with fixed charge coverage below
2.2x or Net Debt/EBITDA above 7x on a sustained basis.

The last rating action with respect to CommonWealth REIT was on
November 20, 2012 when the ratings were downgraded and the outlook
revised to stable.

CommonWealth REIT (NYSE: CWH) is a REIT that principally owns
office properties located throughout the United States. The REIT
is externally managed by Reit Management & Research, LLC, based in
Newton, MA. As of 2Q13, CWH had total assets of $8 billion.

The principal methodology used in this rating was Global Rating
Methodology for REITs and Other Commercial Property Firms
published in July 2010.


COMMUNICATION INTELLIGENCE: Incurs $1.2MM Net Loss in 2nd Quarter
-----------------------------------------------------------------
Communication Intelligence Corporation filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing a net loss of $1.18 million on $263,000 of total
revenue for the three months ended June 30, 2013, as compared with
a net loss of $746,000 on $525,000 of total revenue for the same
period a year ago.

For the six months ended June 30, 2013, the Company reported a net
loss of $2.37 million on $498,000 of total revenue, as compared
with a net loss of $1.56 million on $1.19 million of total revenue
for the same period during the prior year.

The Company reported a net loss of $4.50 million for 2011,
compared with a net loss of $4.16 million for 2010.

The Company's balance sheet at June 30, 2013, showed $2.11 million
in total assets, $1.48 million in total  liabilities and $631,000
in total stockholders' equity.

"As of June 30, 2013, the Company's accumulated deficit was
approximately $116,798, and for the six months ended June 30,
2013, the Company had incurred a net loss of $2,378.  The Company
also has a working capital deficit at June 30, 2013, of
approximately $581.  The Company has primarily met its working
capital needs through the issuance of debt and sale of equity
securities.  As of June 30, 2013, the Company's cash balance was
approximately $406.  These factors raise substantial doubt about
the Company's ability to continue as a going concern," according
to the Company's interim report.

In its audit report accompanying the financial statements for
2011, PMB Helin Donovan, LLP, in San Francisco, Calif.,
expressed substantial doubt about Communication Intelligence's
ability to continue as a going concern.  The independent auditors
noted that of the Company's significant recurring losses and
accumulated deficit.
A copy of the Form 10-Q is available for free at:

                        http://is.gd/ldPbfj

                 About Communication Intelligence

Redwood Shores, California-based Communication Intelligence
Corporation is a supplier of electronic signature products and the
recognized leader in biometric signature verification.


COMMUNITY SOUTH BANK: FDIC Named as Receiver; CB&S Takes Deposits
-----------------------------------------------------------------
Community South Bank, Parsons, Tennessee, was closed by the
Tennessee Department of Financial Institutions, which appointed
the Federal Deposit Insurance Corporation (FDIC) as receiver.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with CB&S Bank, Inc. Russellville, Alabama,
to assume all of the deposits of Community South Bank.

The 15 branches of Community South Bank will reopen as branches of
CB&S Bank, Inc. during their normal business hours.  Depositors of
Community South Bank will automatically become depositors of CB&S
Bank, Inc.  Deposits will continue to be insured by the FDIC, so
there is no need for customers to change their banking
relationship in order to retain their deposit insurance coverage
up to applicable limits.  Customers of Community South Bank should
continue to use their existing branch until they receive notice
from CB&S Bank, Inc. that it has completed systems changes to
allow other CB&S Bank, Inc. branches to process their accounts as
well.

Friday evening and over the weekend, depositors of Community South
Bank were able to access their money by writing checks or using
ATM or debit cards.  Checks drawn on the bank will continue to be
processed. Loan customers should continue to make their payments
as usual.

As of June 30, 2013, Community South Bank had approximately $386.9
million in total assets and $377.7 million in total deposits. In
addition to assuming all of the deposits of the failed bank, CB&S
Bank, Inc. agreed to purchase approximately $121.7 million of the
failed bank's assets.  The FDIC will retain the remaining assets
for later disposition.

The FDIC estimates that the cost to the Deposit Insurance Fund
(DIF) will be $72.5 million.  Compared to other alternatives, CB&S
Bank, Inc.'s acquisition was the least costly resolution for the
FDIC's DIF.  Community South Bank is the 19th FDIC-insured
institution to fail in the nation this year, and the second in
Tennessee.  The last FDIC-insured institution closed in the state
was Mountain National Bank, Sevierville, on June 7, 2013.


CONNACHER OIL: Moody's Cuts CFR to Caa2; 2nd Lien Notes to Caa3
---------------------------------------------------------------
Moody's Investors Service downgraded Connacher Oil and Gas
Limited's Corporate Family Rating and Probability of Default
Rating to Caa2/Caa2-PD from Caa1/Caa1-PD. The $550 million and
CAD350 million senior secured second lien notes ratings were
downgraded to Caa3. The Speculative Grade Liquidity rating was
changed to SGL-4 from SGL-3 and the rating outlook remained
negative.

"The downgrade reflects Connacher's weakening liquidity, inability
to fund its large annual interest payment with internal cash flow
and likely covenant breach in 2014," said Terry Marshall, Moody's
Senior Vice President. "Connacher's high level of debt makes its
current capital structure untenable and the likelihood of debt
restructuring is high."

Downgrades:

Issuer: Connacher Oil and Gas Limited

Probability of Default Rating, Downgraded to Caa2-PD from Caa1-PD

Speculative Grade Liquidity Rating, Downgraded to SGL-4 from
SGL-3

Corporate Family Rating, Downgraded to Caa2 from Caa1

Senior Secured Regular Bond/Debenture Aug 1, 2018, Downgraded to
Caa3 from Caa2

Senior Secured Regular Bond/Debenture Aug 1, 2019, Downgraded to
Caa3 from Caa2

Senior Secured Regular Bond/Debenture Aug 1, 2018, Downgraded to a
range of LGD4, 62 % from a range of LGD4, 58 %

Senior Secured Regular Bond/Debenture Aug 1, 2019, Downgraded to a
range of LGD4, 62 % from a range of LGD4, 58 %

Outlook Actions:

Issuer: Connacher Oil and Gas Limited

Outlook, Remains Negative

Rating Rationale:

Connacher's Caa2 Corporate Family Rating reflects its very high
leverage and debt service cost, small production base, low
unleveraged cash margin and exposure to light/heavy differentials.
The CFR is supported by Connacher's large and long-lived proven
and probable reserve base.

Connacher's SGL-4 Speculative Grade Liquidity rating reflects weak
liquidity. Pro forma the August 1, 2013 $38 million interest
payment Connacher had CAD42 million in cash and CAD82 million
available, after CAD13 million in letters of credit, under its
CAD95 million borrowing base revolving credit facility due May
2014. Moody's expects CAD100 million of negative free cash flow
through 2014 to be funded with cash and revolver drawings. Moody's
expects that the company may need to amend or have waived its debt
to capitalization covenant (not to exceed 75%) during 2013, but it
should remain well in compliance with its other financial covenant
(revolver debt to EBITDA not to exceed 2x.). The company's assets
are pledged under the revolver and second lien notes. All of
Connacher's conventional and refining assets have been sold
leaving only the oil sands assets available to sell or joint
venture.

In accordance with Moody's Loss Given Default Methodology the
notching of the second lien notes at Caa3, one notch below the
Caa2 CFR, reflects their junior ranking in the capital structure
to the secured revolver and a one notch override to the model
driven outcome given the negative outlook.

The negative outlook reflects Moody's expectation of further
deterioration in liquidity as the company funds negative free cash
flow and that a debt restructuring is likely.

The rating could be downgraded if liquidity appears insufficient
to meet anticipated funding requirements.

While unlikely in the foreseeable future given the company's
performance and high debt load, the rating could be upgraded if
Connacher is able to maintain bitumen production at 12,000 bbls/d
and fund its maintenance capex interest payments with internal
cash flow.

The principal methodology used in this rating was Global
Independent Exploration & Production 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.

Connacher is a small exploration and production company that
operates two steam assisted gravity drainage oil sands projects in
Alberta.


CROWN REAL ESTATE: Case Summary & 6 Unsecured Creditors
-------------------------------------------------------
Debtor: Crown Real Estate Services, LLC
        c/o Robert E. Thomas
        723 4th Street
        Ironton, OH 45638

Bankruptcy Case No.: 13-30414

Chapter 11 Petition Date: August 21, 2013

Court: United States Bankruptcy Court
       Southern District of West Virginia (Huntington)

Judge: Ronald G. Pearson

Debtor's Counsel: Mitchell Lee Klein, Esq.
                  KLEIN LAW OFFICE
                  3566 Teays Valley Road
                  Hurricane, WV 25526
                  Tel: (304) 562-7111
                  Fax: (304) 562-7115
                  E-mail: swhittington@kleinandsheridan.com

Scheduled Assets: $2,336,000

Scheduled Liabilities: $2,130,794

A copy of the Company's list of its largest unsecured creditors,
filed together with the petition, is available for free at
http://bankrupt.com/misc/wvsb13-30414.pdf

The petition was signed by Robert Eugene Thomas, managing member.


CRYOPORT INC: Incurs $1.3 Million Net Loss in June 30 Quarter
-------------------------------------------------------------
Cryoport, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.32 million on $487,963 of net revenues for the three months
ended June 30, 2013, as compared with a net loss of $1.54 million
on $191,299 of net revenues for the same period during the prior
year.

Cryoport incurred a net loss of $6.38 million for the year ended
March 31, 2013, as compared with a net loss of $7.83 million for
the year ended March 31, 2012.

The Company's balance sheet at June 30, 2013, showed $1.66 million
in total assets, $4.68 million in total liabilities and a $3.02
million total stockholders' deficit.

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

                        http://is.gd/oYgSLP

                          About Cryoport

Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides
comprehensive solutions for frozen cold chain logistics, primarily
in the life science industries.  Its solutions afford new and
reliable alternatives to currently existing products and services
utilized for bio-pharmaceuticals and biologics, including in-vitro
fertilization, cell lines, vaccines, tissue and other commodities
requiring a reliable frozen solution.

KMJ Corbin & Company LLP, in Costa Mesa, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2013.  The independent
auditors noted that the Company has incurred recurring operating
losses and has had negative cash flows from operations since
inception.  Although the Company has cash and cash equivalents of
$563,104 at March 31, 2013, management has estimated that cash on
hand, which include proceeds from convertible bridge notes
received in the fourth quarter of fiscal 2013, will only be
sufficient to allow the Company to continue its operations into
the second quarter of fiscal 2014.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


CYCLONE POWER: Delays Form 10-Q for Second Quarter
--------------------------------------------------
Cyclone Power Technologies, Inc., was unable to file its quarterly
report on Form 10-Q for the period ended June 30, 2013, by the
prescribed date without unreasonable effort or expense because the
Company's financial review with its auditors is in process and has
not been completed.  The Company believes that the quarterly
report will be completed within the five day extension period
provided under Rule 12b-25 of the Securities Exchange Act of 1934.

                         About Cyclone Power

Pompano Beach, Fla.-based Cyclone Power Technologies, Inc. (Pink
Sheets: CYPW) is a clean-tech engineering company, whose business
is to develop, commercialize and license its patented Rankine
cycle engine technology for applications ranging from renewable
power generation to transportation.  The Company is the successor
entity to the business of Cyclone Technologies LLLP, a limited
liability limited partnership formed in Florida in June 2004.
Cyclone Technologies LLLP was the original developer and
intellectual property holder of the Cyclone engine technology.

Cyclone Power disclosed a net loss of $3 million on $1.13 million
of revenue for the year ended Dec. 31, 2012, as compared with a
net loss of $23.70 million on $250,000 of revenue in 2011.

Mallah Furman, in Mallah Furman, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that the
Company's dependence on outside financing, lack of sufficient
working capital, and recurring losses raises substantial doubt
about its ability to continue as a going concern.

The Company's balance sheet at March 31, 2013, showed $1.38
million in total assets, $4.14 million in total liabilities and a
$2.76 million total stockholders' deficit.


DAIS ANALYTIC: Amends Second Quarter Form 10-Q
----------------------------------------------
Dais Analytic Corporation has amended its quarterly report on Form
10-Q for the period ended June 30, 2013, filed with the U.S.
Securities and Exchange Commission on Aug. 13, 2013, to update
Exhibit 101 for printer update errors in accordance with Rule 405
of Regulation S-T.  Exhibit 101 the report provides the
consolidated financial statements and related notes from the Form
10-Q formatted in XBRL (eXtensible Business Reporting Language).
No other changes have been made to the Form 10-Q.  A copy of the
amended Form 10-Q is available for free at http://is.gd/qzHSWl

                        About Dais Analytic

Odessa, Fla.-based Dais Analytic Corporation has developed and
patented a nano-structure polymer technology, which is being
commercialized in products based on the functionality of these
materials.  The initial product focus of the Company is ConsERV,
an energy recovery ventilator.  The Company also has new product
applications in various developmental stages.

In the auditors' report accompanying the financial statements for
year ended Dec. 31, 2011, Cross, Fernandez & Riley LLP, in
Orlando, Florida, expressed substantial doubt about the Company's
ability to continue as a going concern.  The independent auditors
noted that the Company has incurred significant losses since
inception and has a working capital deficit and stockholders'
deficit of $3.22 million and $4.90 million at Dec. 31, 2011.

The Company reported a net loss of $2.33 million in 2011,
compared with a net loss of $1.43 million in 2010.  The Company's
balance sheet at March 31, 2013, showed $1.08 million in total
assets, $4.26 million in total liabilities and a $3.18 million
total stockholders' deficit.


DETROIT, MI: Bankruptcy Mediator's Past Sparks Ethics Debate
------------------------------------------------------------
Law360 reported that a mediator for Detroit's historic bankruptcy
case said he will not recuse himself even though the city is a
former client, raising an ethical debate about whether his role is
forbidden by the American Bar Association's model rules of
conduct.

According to the report, a declaration by Eastern District of
Michigan Chief Judge Gerald Rosen thoroughly details the
credentials of the five mediators he picked to officiate
negotiations in the largest municipal bankruptcy in American
history.  The declaration omits, however, that the city is a
former client of mediator Eugene Driker, the report related.

                     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: Bankruptcy Judge Allows Property Tax Appeals
---------------------------------------------------------
Christine Macdonald, writing for The Detroit News, reported that a
U.S. bankruptcy judge cleared the way for the state to hear
hundreds of Detroit owners' property assessment appeals.  But it's
not clear when the city will pay out refunds if state officials
find that owners were overtaxed.

According to the report, Judge Steven Rhodes had frozen all
lawsuits and claims against the city in its bankruptcy case, but
he issued an order allowing the Michigan Tax Tribunal appeal
hearings to proceed.

The order says that the stay is "not modified" to permit
collection of refunds, but city officials have said they plan on
paying owners that successfully appeal, the report related.

"The court order provides relief the city requested which was to
ensure that property tax appeals can proceed during bankruptcy,"
said Bill Nowling, a spokesman for Emergency Manager Kevyn Orr,
the report cited. "Payments of refunds, if any, due from the city
as a result of the appeals will be addressed in due course as a
part of the bankruptcy."

Southfield attorney Yuliy Osipov, who represents firms that appeal
Detroit assessments, said it's unclear when and how refunds will
be paid, but the ruling is good news for owners, the report
further related.

                     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: Union Officials among Nine Named to Bankruptcy Panel
-----------------------------------------------------------------
Kirk Pinho, writing for Crain's Detroit Business, reported that
the nine-member committee that will represent city of Detroit
retirees during the city's bankruptcy case includes former and
current union officials as well as individuals who have held legal
and HR positions for the city of Detroit and U.S. District Court.

The U.S. Trustee monitoring the bankruptcy for the Justice
Department released the names in a filing in U.S. Bankruptcy Court
in Detroit.

The committee members are:

   1. Ed McNeil, special assistant to the president of the
      American Federation of State, County and Municipal Employees
      Michigan Council 25

   2. Wendy Fields-Jacobs, executive administrative assistant to
      the president of the United Auto Workers

   3. Michael Karwoski, retired assistant corporation counsel for
      the city of Detroit

   4. Shirley Lightsey, president of the Detroit Retired City
      Employees Association

   5. Terri Renshaw, retired senior vice president and general
      council, Comerica Inc. (in Detroit) and deputy corporation
      counsel for city of Detroit.

   6. Robert Shinske, treasurer of the Detroit Fire Fighters
      Association, Local 344

   7. Donald Taylor, president of the Retired Detroit Police and
      Fire Fighters Association

   8. Gail Wilson Turner, former deputy chief of police for
      Detroit.

   9. Gail M. Wilson, vice president of human resources for the
      Detroit-based Legal Aid and Defender Association and
      formerly director of human resources for the 36th District
      Court in Detroit.

The report said the committee will represent 23,500 Detroit
retirees in U.S. Bankruptcy Judge Steven Rhodes' court and during
negotiations.

                     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.


DEWEY & LEBOEUF: Trust Targets Ex-Clients Over $6MM in Unpaid Fees
------------------------------------------------------------------
Law360 reported that secured lender trustee for bankrupt global
law firm Dewey & LeBoeuf LLP launched a slew of complaints in New
York bankruptcy court against more than a dozen of the firm's
former clients, seeking to recover more than $6 million in
allegedly unpaid fees for legal services.

According to the report, FTI Consulting filed 14 near-identical
complaints against individuals and companies who purportedly
received legal services from Dewey between November 2002 and May
2012 and failed to pay fees and expenses.

                       About Dewey & LeBoeuf

Dewey & LeBoeuf LLP sought Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 12-12321) to complete the wind-down of its operations.
The firm had struggled with high debt and partner defections.
Dewey disclosed debt of $245 million and assets of $193 million in
its chapter 11 filing late evening on May 29, 2012.

Dewey & LeBoeuf LLP operated as a prestigious, New York City-
based, law firm that traced its roots to the 2007 merger of Dewey
Ballantine LLP -- originally founded in 1909 as Root, Clark & Bird
-- and LeBoeuf, Lamb, Green & MacCrae LLP -- originally founded in
1929.  In recent years, more than 1,400 lawyers worked at the firm
in numerous domestic and foreign offices.

At its peak, Dewey employed about 2,000 people with 1,300 lawyers
in 25 offices across the globe.  When it filed for bankruptcy,
only 150 employees were left to complete the wind-down of the
business.

Dewey's offices in Hong Kong and Beijing are being wound down.
The partners of the separate partnership in England are in process
of winding down the business in London and Paris, and
administration proceedings in England were commenced May 28.  All
lawyers in the Madrid and Brussels offices have departed.  Nearly
all of the lawyers and staff of the Frankfurt office have
departed, and the remaining personnel are preparing for the
closure.  The firm's office in Sao Paulo, Brazil, is being
prepared for closure and the liquidation of the firm's local
affiliate.  The partners of the firm in the Johannesburg office,
South Africa, are planning to wind down the practice.

The firm's ownership interest in its practice in Warsaw, Poland,
was sold to the firm of Greenberg Traurig PA on May 11 for
$6 million.  The Pension Benefit Guaranty Corp. took $2 million of
the proceeds as part of a settlement.

Judge Martin Glenn oversees the case.  Albert Togut, Esq., at
Togut, Segal & Segal LLP, represents the Debtor.  Epiq Bankruptcy
Solutions LLC serves as claims and notice agent.  The petition was
signed by Jonathan A. Mitchell, chief restructuring officer.

JPMorgan Chase Bank, N.A., as Revolver Agent on behalf of the
lenders under the Revolver Agreement, hired Kramer Levin Naftalis
& Frankel LLP.  JPMorgan, as Collateral Agent for the Revolver
Lenders and the Noteholders, hired FTI Consulting and Gulf
Atlantic Capital, as financial advisors.  The Noteholders hired
Bingham McCutchen LLP as counsel.

The U.S. Trustee formed two committees -- one to represent
unsecured creditors and the second to represent former Dewey
partners.  The creditors committee hired Brown Rudnick LLP led by
Edward S. Weisfelner, Esq., as counsel.  The Former Partners hired
Tracy L. Klestadt, Esq., and Sean C. Southard, Esq., at Klestadt &
Winters, LLP, as counsel.

FTI Consulting, Inc. was appointed secured lender trustee for the
Secured Lender Trust.  Alan Jacobs of AMJ Advisors LLC, was named
Dewey's liquidation trustee.  Scott E. Ratner, Esq., Frank A.
Oswald, Esq., David A. Paul, Esq., Steven S. Flores, Esq., at
Togut, Segal & Segal LLP, serve as counsel to the Liquidation
Trustee.

Dewey's liquidating Chapter 11 plan was approved by the bankruptcy
court in February 2013 and implemented in March.  The plan created
a trust to collect and distribute remaining assets.  The firm
estimated that midpoint recoveries for secured and unsecured
creditors under the plan would be 58.4 percent and 9.1 percent,
respectively.


DEWEY COMMERCIAL: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Dewey Commercial Investors, L.P.
        435 Devon Park Drive
        Building 600, Suite 613
        Wayne, PA 19087

Bankruptcy Case No.: 13-17294

Chapter 11 Petition Date: August 21, 2013

Court: United States Bankruptcy Court
       Eastern District of Pennsylvania (Philadelphia)

Judge: Magdeline D. Coleman

Debtor's Counsel: Jeffrey Kurtzman, Esq.
                  KLEHR HARRISON HARVEY BRANZBURG LLP
                  1835 Market Street, Suite 1400
                  Philadelphia, PA 19103
                  Tel: (215) 569 4493
                  Fax: (215) 568-6603
                  E-mail: jkurtzma@klehr.com

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

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by John Dewey, managing member.


DEX MEDIA EAST: Bank Debt Trades at 23% Off
-------------------------------------------
Participations in a syndicated loan under which Dex Media East LLC
is a borrower traded in the secondary market at 77.10 cents-on-
the-dollar during the week ended Friday, August 23, 2013,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease
of 0.45 percentage points from the previous week, The Journal
relates.  Dex Media East LLC pays 250 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Oct. 24,
2016.  The bank debt carries is not rate by Moody's and Standard &
Poor's rating.  The loan is one of the biggest gainers and losers
among 232 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

                             About Dex One

Dex One Corp., headquartered in Cary, North Carolina, is a local
business marketing services company that includes print
directories and online voice and mobile search.  The company
employs 2,200 people across the United States.  Dex One provides
print yellow pages directors, which it co-brands with other
recognizable brands in the industry, including Century Link and
AT&T.  It also provides the yellow pages websites DexKnows.com and
DexPages.com, as well as mobile apps Dex Mobile, Dex CityCentral.

Dex One and 11 affiliates sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 13-10534) on March 17 and 18, 2013, with a
prepackaged plan of reorganization designed to effectuate a merger
with SuperMedia Inc.  Dex One disclosed total assets of $2.84
billion and total liabilities of $2.79 billion as of Dec. 31,
2012.

Houlihan Lokey is acting as financial advisor to Dex One, and
Kirkland & Ellis LLP is acting as its legal counsel.  Pachulski
Stang Ziehl & Jones LLP is co-counsel.  Epiq Systems serves as
claims agent.

This is Dex One's second stint in Chapter 11.  Its predecessor,
R.H. Donnelley Corp., and 19 affiliates, including Dex Media East
LLC, Dex Media West LLC and Dex Media Inc., filed for Chapter 11
protection (Bank. D. Del. Case No. 09-11833 through 09-11852) on
May 28, 2009.  They emerged from bankruptcy on Jan. 29, 2010.  On
the Effective Date and in connection with its emergence from
Chapter 11, RHD was renamed Dex One Corporation.

As of Dec. 31, 2012, persons or entities directly or indirectly
own, control, or hold 5% or more of the voting securities of Dex
One are Franklin Advisers, Inc., Hayman Capital Management LP,
Robert E. Mead, Restructuring Capital Associates LP, Paulson &
Co., Inc., and Mittleman Investment Management LLC.

The 2013 Debtors emerged from Chapter 11 bankruptcy protection on
April 30, 2013.


DEX MEDIA WEST: Bank Debt Trades at 16% Off
-------------------------------------------
Participations in a syndicated loan under which Dex Media West LLC
is a borrower traded in the secondary market at 83.65 cents-on-
the-dollar during the week ended Friday, August 23, 2013,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease
of 0.47 percentage points from the previous week, The Journal
relates.  Dex Media West LLC pays 450 basis points above LIBOR to
borrow under the facility.  The bank loan matures on Oct. 24,
2016. The bank debt is withdrawn by Moody's and not rated by
Standard & Poor's.  The loan is one of the biggest gainers and
losers among 236 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

                           About Dex One

Dex One Corp., headquartered in Cary, North Carolina, is a local
business marketing services company that includes print
directories and online voice and mobile search.  The company
employs 2,200 people across the United States.  Dex One provides
print yellow pages directors, which it co-brands with other
recognizable brands in the industry, including Century Link and
AT&T.  It also provides the yellow pages websites DexKnows.com and
DexPages.com, as well as mobile apps Dex Mobile, Dex CityCentral.

Dex One and 11 affiliates sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 13-10534) on March 17 and 18, 2013, with a
prepackaged plan of reorganization designed to effectuate a merger
with SuperMedia Inc.  Dex One disclosed total assets of $2.84
billion and total liabilities of $2.79 billion as of Dec. 31,
2012.

Houlihan Lokey is acting as financial advisor to Dex One, and
Kirkland & Ellis LLP is acting as its legal counsel.  Pachulski
Stang Ziehl & Jones LLP is co-counsel.  Epiq Systems serves as
claims agent.

This is Dex One's second stint in Chapter 11.  Its predecessor,
R.H. Donnelley and 19 of its affiliates, including Dex Media East
LLC, Dex Media West LLC and Dex Media Inc., sought Chapter 11
protection (Bank. D. Del. Case No. 09-11833 through 09-11852)
on May 28, 2009.  They emerged from bankruptcy on Jan. 29, 2010.
On the Effective Date and in connection with its emergence from
Chapter 11, RHD was renamed Dex One Corporation.

As of Dec. 31, 2012, persons or entities directly or indirectly
own, control, or hold 5% or more of the voting securities of Dex
One are Franklin Advisers, Inc., Hayman Capital Management LP,
Robert E. Mead, Restructuring Capital Associates LP, Paulson &
Co., Inc., and Mittleman Investment Management LLC.


DIVERSINET CORP: Special Meeting of Shareholders on September 11
----------------------------------------------------------------
In a regulatory Form 6-K filing on Aug. 16, 2013, Diversinet Corp.
announced that the annual and special meeting of shareholders of
the Corporation will be held at the offices of the Corporation,
2235 Sheppard Avenue East, Suite 1700, Toronto, Ontario, on
Wednesday Sept.  11, 2013, at the hour of 10:00 o'clock in the
morning (Toronto time), for the following purposes:

   1. To consider and receive the financial statements of the
Corporation for the year ended Dec. 31, 2012, together with the
report of the auditors thereon;

   2. To approve as a special resolution, the sale of
substantially all of the assets of the Corporation as described in
the enclosed management information circular of the Corporation;

   3. To approve as a special resolution, (i) the voluntary
winding up of the Corporation pursuant to the Business
Corporations Act (Ontario) at a time to be determined by the
Directors of the Corporation, (ii) the plan of liquidation and
distribution substantially in the form attached hereto as Schedule
C, and (iii) one or more distributions to shareholders of any
remaining property of the Corporation under the voluntary winding
up by way of a return of capital;

   4. To elect directors;

   5. To appoint auditors and authorize the directors to fix their
remuneration; and,

   6. To transact such other business as may properly come before
the Meeting or any adjournments thereof.

A copy of the Form 6-K is available at http://is.gd/DvbL1Y

Toronto-based Diversinet Corp. (TSX Venture: DIV, OTCQB: DVNTF)
provides healthcare organizations and partners with ultra-secure,
patented mobile technologies and connected health solutions.

Revenues for the second quarter were US$263,000, compared to
US$419,000 in the same year-ago period.  Revenues for the six
months ended June 30, 2013, were US$566,000 compared to US$701,000
in the same period in 2012.

Net loss in the second quarter totaled US$794,000, compared to
US$1.1 million in the same year ago period.  Net loss for the six
months ended June 30, 2013, was US$1.8 million, compared to
US$2.6 million in the first six months of 2012.

The Company's balance sheet at June 30, 2013, showed
US$1.9 million in total assets, US$529,368 in total current
liabilities, and stockholders' equity of US$1.4 million.

Diversinet announced on August 9 that it has entered into an asset
purchase agreement with certain subsidiaries of IMS Health
Incorporated to sell substantially all of the intellectual
property, software, customer contracts and certain other assets of
Diversinet for US$3,500,000.

An amount equal to one-half of the sale proceeds will be deposited
with an independent escrow agent to be available to satisfy
indemnity claims by IMS Health, if any, made prior to the proposed
winding-up.  Certain employees of Diversinet have been offered
employment by IMS Health, subject to closing of the transaction
contemplated by the Agreement.  The closing is subject to
customary conditions precedent at closing, including Diversinet
shareholder approval.

Holders of an aggregate of appropriately 38% of the outstanding
common shares of Diversinet, including shareholders who are
Directors and their respective affiliated companies, have agreed
with IMS Health to vote in favor of the transaction.

Under the Agreement, IMS Health is entitled to a break fee in
certain circumstances, including a US$750,000 payment upon the
acceptance by Diversinet of an unsolicited superior proposal from
a third party.  IMS Health has also been granted other typical
deal protection provisions including a right to match any superior
proposal that is received by Diversinet on an unsolicited basis.

Craig-Hallum Capital Group LLC acted as financial advisor to
Diversinet.

The Company is delisting its common shares from the TSX Venture
Exchange effective Aug. 13, 2013.  Trading of the Company's common
shares will continue for a transitional period prior to the wind
up on the OTCQB under the trading symbol DVNTF.

                          *     *     *

KPMG LLP, in Toronto, Canada, expressed substantial doubt about
Diversinet Corp.'s ability to continue as a going concern,
following its audit of the Company's consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company incurred significant losses from
operations and used significant amounts of cash in operating
activities during 2012 and 2011 that raise substantial doubt about
its ability to continue as a going concern.


DOGWOOD PROPERTIES: Settles With Merchants & Farmers Bank
---------------------------------------------------------
The Hon. Jennie D. Latta of the U.S. Bankruptcy Court for the
Western District of Tennessee signed off on an agreed order
resolving the motion for relief from the automatic stay and
abandoning property of Dogwood Properties, G.P.

The Debtor and creditor Merchants & Farmers Bank agreed that,
among other things:

   1. The automatic stay will be terminated immediately upon entry
of the order with regard to the following real property: 4606
Hampton Valley, 1544 Beringer, 4669 Shira Drive, 4752 Hampton
Ridge, 7343 Hampton Valley, 7464 Shadow Run Lane, 7450 Shadow Run
Lane.

   2. Any and all insurance proceeds pertaining to 2281 Ardmore
Cove, including but not limited to the $19,379 check from Builders
Mutual, will be surrendered to M&F Bank.  M&F Bank will release
its deed of trust and assignment of rents and leases with regard
to 2281 Ardmore.

   3. The properties are being surrendered in full satisfaction of
the debts owed to M&F Bank by the Debtor, Jon McCreery and Philip
Chamberlain, and these individuals will be released from all
liability to M&F Bank accordingly.

Russell W. Savory, Esq., represents the Debtor, and Brent A.
Heilig, Esq. -- bheilig@harrisshelton.com at Harris Shelton
Hanover Walsh, PLLC, represents M&F Bank.

                           About Dogwood

Dogwood Properties, G.P., owns and operates 110 single-family
rental homes, all located in Shelby and DeSoto counties in
Tennessee.  The total value of its real estate holdings is
estimated to be $9,985,000.  Dogwood has nine secured lenders who
are owed a total of approximately $14,486,000.

Dogwood Properties filed a Chapter 11 petition (Bankr. W.D. Tenn.
Case No. 13-21712) on Feb. 16, 2013.  Judge Jennie D. Latta
presides over the case.  Russell W. Savory, Esq. at Gotten,
Wilson, Savory & Beard, PLLC, serves as the Debtor's counsel.

The Plan filed in the Debtor's case provides that the Debtor
continue operating under existing management.  Brad Rainey,
individually, will remain the president of the Debtor.  The
Debtor's property will be managed by Reed & Associates and members
of the Debtor's staff.  The Plan provides that claims will be paid
from future operations and the collection of rents.


DOGWOOD PROPERTIES: Files Amended Plan Outline
----------------------------------------------
Dogwood Properties, G.P., submitted to the U.S. Bankruptcy Court
for the Western District of Tennessee an Amended Disclosure
Statement explaining its Chapter 11 Plan.

According to the Amended Disclosure Statement, the Plan provides
that claims will be paid from future operations and the collection
of rents.  The Plan also provides that the Debtor continue
operating under existing management.

A Plan of Reorganization was filed in the case on May 31, 2013.
During the course of the proceedings, the Debtor has sought and
obtained permission to use cash collateral and make adequate
protection payments to secured creditors.  The Debtor negotiated a
settlement with Paragon Bank whereby this lender's collateral
would be surrendered in exchange for releases from further
obligations on all of the Debtor's obligations under the loan
agreements, and a release of some obligations of non-debtor
borrowers and guarantors.  The Debtor also negotiated a settlement
with Merchants & Farmers Bank whereby all but one property
constituting this lender's collateral would be surrendered in
exchange for releases from further obligations on all of the
Debtor's obligations under the loan agreements, and a release of
obligations of non-debtor borrowers and guarantors.

A copy of the Amended Disclosure Statement is available for free
at http://bankrupt.com/misc/DOGWOOD_PROPERTIES_ds_amended.pdf

                           About Dogwood

Dogwood Properties, G.P., owns and operates 110 single-family
rental homes, all located in Shelby and DeSoto counties in
Tennessee.  The total value of its real estate holdings is
estimated to be $9,985,000.  Dogwood has nine secured lenders who
are owed a total of approximately $14,486,000.

Dogwood Properties filed a Chapter 11 petition (Bankr. W.D. Tenn.
Case No. 13-21712) on Feb. 16, 2013.  Judge Jennie D. Latta
presides over the case.  Russell W. Savory, Esq. at Gotten,
Wilson, Savory & Beard, PLLC, serves as the Debtor's counsel.

The Plan filed in the Debtor's case provides that the Debtor
continue operating under existing management.  Brad Rainey,
individually, will remain the president of the Debtor.  The
Debtor's property will be managed by Reed & Associates and members
of the Debtor's staff.  The Plan provides that claims will be paid
from future operations and the collection of rents.


DRYSHIPS INC: Annual Shareholders' Meeting Scheduled for Oct. 31
----------------------------------------------------------------
DryShips Inc. on Aug. 23 disclosed that the Company's 2013 Annual
General Meeting of Shareholders will be held at the Company's
offices located at 74-76 V. Ipeirou Street, GR 151 25, Marousi,
Athens, Greece on Thursday, October 31, 2013 at 12:00 p.m., local
time.

The Company's board of directors has fixed the close of business
on Tuesday, September 3, 2013 as the record date for the
determination of the shareholders entitled to receive notice and
to vote at the Annual Meeting or any adjournments or postponements
thereof.

Formal notice of the Annual Meeting and the Company's proxy
statement are expected to be sent to shareholders on or about
Thursday, September 19, 2013.

                      About DryShips Inc.

Headquartered in Athens, Greece, DryShips Inc. (NASDAQ: DRYS) is
an owner of drybulk carriers and tankers that operate worldwide.
Through its majority owned subsidiary, Ocean Rig UDW Inc.,
DryShips owns and operates 10 offshore ultra deepwater drilling
units, comprising of 2 ultra deepwater semisubmersible drilling
rigs and 8 ultra deepwater drillships, 3 of which remain to be
delivered to Ocean Rig during 2013 and 1 is scheduled for
delivery during 2015.  DryShips owns a fleet of 46 drybulk
carriers (including newbuildings), comprising of 12 Capesize, 28
Panamax, 2 Supramax and 4 Very Large Ore Carriers (VLOC) with a
combined deadweight tonnage of about 5.1 million tons, and 10
tankers, comprising 4 Suezmax and 6 Aframax, with a combined
deadweight tonnage of over 1.3 million tons.

The Company reported a net loss of US$288.6 million on
US$1.210 billion of revenues in 2012, compared with a net loss of
US$47.3 million on US$1.078 billion of revenues in 2011.

The Company's balance sheet at Dec. 31, 2012, showed
US$8.878 billion in total assets, US$5.010 billion in total
liabilities, and shareholders' equity of US$3.868 billion.

                       Going Concern Doubt

Ernst & Young (Hellas), in Athens, Greece, expressed substantial
doubt about DryShips Inc.'s ability to continue as a going
concern, citing the Company's working capital deficit of
US$670 million at Dec. 31, 2012, and in addition, the non-
compliance by the shipping segment with certain covenants of its
loan agreements with banks.

As of Dec. 31, 2012, the shipping segment was not in compliance
with certain loan-to-value ratios contained in certain of its
loan agreements.  In addition, as of Dec. 31, 2012, the shipping
segment was in breach of certain financial covenants, mainly the
interest coverage ratio, contained in the Company's loan
agreements relating to US$769,098,000 of the Company's debt.  As
a result of this non-compliance and of the cross default
provisions contained in all bank loan agreements of the shipping
segment and in accordance with guidance related to the
classification of obligations that are callable by the creditor,
the Company has classified all of its shipping segment's bank
loans in breach amounting to US$941,339,000 as current at
Dec. 31, 2012.


EASTGATE AUTO: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Eastgate Auto & RV Sales Center LLC
        14486 N. US Hwy 25E
        Corbin, KY 40701

Bankruptcy Case No.: 13-61080

Chapter 11 Petition Date: August 21, 2013

Court: United States Bankruptcy Court
       Eastern District of Kentucky (London)

Debtor's Counsel: Jamie L. Harris, Esq.
                  DELCOTTO LAW GROUP PLLC
                  200 North Upper Street
                  Lexington, KY 40507
                  Tel: (859) 231-5800
                  E-mail: jharris@dlgfirm.com

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

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

The Debtor did not file a list of its largest unsecured creditors
together with its petition.

The petition was signed by Daniel Day, member.


EASTMAN KODAK: Wins Court Approval to Expand Deloitte Services
--------------------------------------------------------------
U.S. Bankruptcy Judge Allan Gropper authorized Deloitte Consulting
LLP to provide additional services to Eastman Kodak Co.

The services to be provided by the firm include consulting support
services related to the divestiture of Kodak's document imaging
and personal imaging business units, and those related to a
potential plan change and the impact of liquidity shortfall
requirements in the Kodak Retirement Income Plan during 2013.

Deloitte will also provide actuarial valuation services for some
of the employee benefit programs of Kodak and its affiliates.

                        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.


EDISON MISSION: Spars with Chevron Over Natural-Gas Venture
-----------------------------------------------------------
Patrick Fitzgerald, writing for Daily Bankruptcy Review, reported
that the war of words between Edison Mission Energy and estranged
partner Chevron Corp. is heating up, with Edison Mission saying
Chevron has just one reason -- "greed, pure and simple" -- to oust
it from a gas deal that has brought in billions of dollars over
the past three decades.

                        About Edison Mission

Santa Ana, California-based Edison Mission Energy is a holding
company whose subsidiaries and affiliates are engaged in the
business of developing, acquiring, owning or leasing, operating
and selling energy and capacity from independent power production
facilities.  EME also engages in hedging and energy trading
activities in power markets through its subsidiary Edison Mission
Marketing & Trading, Inc.

EME was formed in 1986 and is an indirect subsidiary of Edison
International.  Edison International also owns Southern California
Edison Company, one of the largest electric utilities in the
United States.

EME and its affiliates sought Chapter 11 protection (Bankr. N.D.
Ill. Lead Case No. 12-49219) on Dec. 17, 2012.

EME has reached an agreement with the holders of a majority of
EME's $3.7 billion of outstanding public indebtedness and its
parent company, Edison International EIX, that, pursuant to a plan
of reorganization and pending court approval, would transition
Edison International's equity interest to EME's creditors, retire
existing public debt and enhance EME's access to liquidity.

The Company's balance sheet at Sept. 30, 2012, showed
$8.17 billion in total assets, $6.68 billion in total liabilities
and $1.48 billion in total equity.

In its schedules, Edison Mission Energy disclosed total assets of
assets of $5,721,559,170 and total liabilities of $6,202,215,094
as of the Petition Date.

The Debtors other than Camino Energy Company are represented by:

          David R. Seligman, P.C., Esq.
          James H.M. Sprayregen, P.C., Esq.
          Sarah Hiltz Seewer, Esq.
          KIRKLAND & ELLIS LLP
          300 North LaSalle
          Chicago, IL 60654
          Telephone: (312) 862-2000
          Facsimile: (312) 862-2200

               - and -

          Joshua A. Sussberg, Esq.
          KIRKLAND & ELLIS LLP
          601 Lexington Avenue
          New York, NY 10022-4611
          Telephone: (212) 446-4800
          Facsimile: (212) 446-4900

Counsel to Debtor Camino Energy Company is:

          David A. Agay, Esq.
          Joshua Gadharf, Esq.
          MCDONALD HOPKINS LLC
          300 North LaSalle, Suite 2100
          Chicago, IL 60654
          Telephone: (312) 280-0111
          Facsimile: (312) 280-8232

Perella Weinberg Partners, LP is acting as the Debtors' financial
advisor and McKinsey Recovery & Transformation Services U.S., LLC
is acting as restructuring advisor.  GCG, Inc., is the claims and
notice agent.

An official committee of unsecured creditors has been appointed in
the case and is represented by Ira S. Dizengoff, Esq., Stephen M.
Baldini, Esq., Arik Preis, Esq., and Robert J. Boller, Esq., at
AKIN GUMP STRAUSS HAUER & FELD LLP in New York; James Savin, Esq.,
and Kevin M. Eide, Esq., at AKIN GUMP STRAUSS HAUER & FELD LLP in
Washington, DC; and David M. Neff, Esq., and Brian Audette, Esq.,
at PERKINS COIE LLP.  The Committee also has tapped Blackstone
Advisory Partners as investment banker and FTI Consulting as
financial advisor.

EME said it doesn't plan to emerge from Chapter 11 until December
2014 to receive benefits from a tax-sharing agreement with parent
Edison International Inc.


ELITE PHARMACEUTICALS: Posts $921,600 Net Income in June 30 Qtr.
----------------------------------------------------------------
Elite Pharmaceuticals, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income attributable to common shareholders of $921,666 on
$721,689 of total revenues for the three months ended June 30,
2013, as compared with a net loss attributable to common
shareholders of $10.52 million on $578,556 of total revenues for
the same period during the prior year.

The Company's balance sheet at June 30, 2013, showed $10.39
million in total assets, $16.79 million in total liabilities and a
$6.40 million total stockholders' deficit.

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

                        http://is.gd/QL8KG6

                    About Elite Pharmaceuticals

Northvale, New Jersey-based Elite Pharmaceuticals, Inc., is a
specialty pharmaceutical company principally engaged in the
development and manufacture of oral, controlled-release products,
using proprietary technology and the development and manufacture
of generic pharmaceuticals.  The Company has one product,
Phentermine 37.5mg tablets, currently being sold commercially.

Elite Pharmaceuticals reported net income attributable to common
shareholders of $1.48 million on $3.40 million of total revenues
for the year ended March 31, 2013, as compared with a net loss
attributable to common shareholders of $15.05 million on $2.42
million of total revenues for the year ended March 31, 2012.

Demetrius Berkower LLC, in Wayne, New Jersey, issued a "going
concern" qualification on the consolidated financial statements
for the year ended March 31, 2013.  The independent auditors noted
that the Company has experienced significant losses resulting in a
working capital deficiency and shareholders' deficit.  These
conditions raise substantial doubt about its ability to continue
as a going concern.


ELWOOD ENERGY: Moody's Downgrades Senior Secured Bonds to Ba3
-------------------------------------------------------------
Moody's Investors Service downgraded Elwood Energy LLC's senior
secured bond ratings to Ba3 from Ba2. The rating outlook is
stable. This concludes the review for possible downgrade initiated
on April 30, 2013.

Ratings Rationale:

The downgrade of Elwood's bonds to Ba3 from Ba2 reflects the soon
to be completed sale of Dominion Resources, Inc. (Dominion, Baa2-
stable) 50% interest in Elwood to the lower rated EquiPower
Resources Holdings (B1-stable). On August 20th, the Federal Energy
Regulatory Commission (FERC) approved the transaction and Moody's
understands that no other approvals remain outstanding and that
the transaction should close shortly. Moody's previously viewed
Dominion's substantial ownership in Elwood to be a material credit
positive especially given the affiliate relationships with Elwood
and Dominion's strong investment grade profile. As part of its
ownership of Elwood, Dominion backed half of Elwood's 6-month debt
service reserve, provided a $10 million working capital facility,
and provided operations and maintenance services. EquiPower will
step into the Dominion's roles and EquiPower will support its
obligations with letters of credit issued under its revolver. J-
POWER USA Generation, L.P which owns the other 50% of Elwood is
expected to maintain its ownership in Elwood.

The rating action also recognizes the substantial drop in PJM's
RTO price to $59/MW-day in the most recent capacity auction for
the 2016/2017 time period, which is substantially below the
$100/MW-day price Moody's views as necessary for Elwood to
properly service its debt from cash flow. Given the capacity price
for the 2016/2017 period and rising scheduled debt service in
2018, Moody's sees Elwood's DSCR possibly dropping to 1.0x or
below around 2018 depending on future capacity auction results.
The potential for steep DSCR deterioration in 2018 is negative and
could lead to future negative rating action if prices do not
improve. That said, Moody's sees Elwood as having a substantial
amount of time to address this issue including a possible
refinancing at some point prior to 2018. A hypothetical
refinancing could avoid the large debt service step up that begins
in 2018 and provide Elwood greater flexibility to withstand
volatile capacity prices.

At the Ba3 rating, Elwood's credit quality remains supported by
strong historical operational performance, Elwood's contracts on
four units through August 2016/2017, and known capacity prices
through April 2017 that should enable the Project to achieve debt
service coverage above 2.0x in most years through 2016.
Additionally, project finance protections including a forward
looking cash trapping mechanism are supportive of credit quality.

The stable outlook reflects Elwood's expected strong financial
metrics through 2016 based on known cash flows and expectations of
continued strong operational performance.

The Project's rating could improve if Elwood is able to enter into
new, long term PSAs with investment grade off-takers that result
in annual DSCRs being at or above 1.3 times through debt maturity
based solely on fully contracted cash flows.

Elwood's rating could decline if PJM capacity prices do not
significantly improve or if Elwood incurs operational problems.
This is especially the case beginning in 2016 when two of the four
Power Supply Agreements (PSAs) currently in place with Exelon
Generation Company (ExGen: Baa2 stable) expire.

Elwood Energy LLC owns a 1,469 megawatt (MW) peaking facility
consisting of nine 156.5 MW natural gas-fired, simple cycle units,
located in Elwood, Illinois (about 50 miles southwest of Chicago).
Elwood sells its energy and capacity under four PSAs with ExGen:
that expire in 2016 and 2017. Elwood is expected to be 50% owned
by EquiPower Resources Holdings (B1-stable) and 50% indirectly
owned by J-POWER USA Generation, L.P. (J-Power Gen), which is a
50/50 joint venture between John Hancock Life Insurance Company
and J-POWER USA Investment Co., Ltd.

The last rating action on Elwood occurred on April 30, 2013 when
Moody's placed Elwood's Ba2 rating under review for possible
downgrade.

The principal methodology used in this rating was Power Generation
Projects methodology published in December 2012.


EMPRESAS INTEREX: Files First Amended Plan & Disclosure Statement
-----------------------------------------------------------------
Empresas Interex, Inc., filed with the U.S. Bankruptcy Court for
the District of Puerto Rico a first amended disclosure statement
to provide for the following treatment of claims:

   * The claim of DF Services, LLC, the Plan sponsor, estimated to
amount to $7,547,006, is impaired.  DF's claim will be satisfied
through the transfer of the Debtor's residential project on the
effective date of the Plan.  In consideration of the transfer of
the Property, DF's claim will be reduced to $6,870,728, and DF
will fund the 50% payment to be made to Holders of Allowed General
Unsecured Claims.

   * The claim of the Debtor's shareholder, Universidad
Interamericana de Puerto Rico, estimated to amount to $360,440, is
impaired, but is estimated to recover 100% of the allowed amount.
The Allowed Claim of the University, bearing an annual interest at
2% over the prime rate, with a floor of 6%, collateralized by a
parcel of land of 1,598 square meters at PR-830, Bayamon, Puerto
Rico, will be paid on the basis of $1,953 per month, including
principal and interest at 4.25% per annum, over a period of 25
years.

   * Allowed General Unsecured Claims, estimated to total
$175,694, are impaired and are estimated to recover 50% of the
total allowed amount.  Holders of Allowed General Unsecured Claims
will be paid pro-rata from the $87,847 to be provided by DF.

A full-text copy of the First Amended Disclosure Statement, dated
Aug. 19, 2013, is available for free at:

          http://bankrupt.com/misc/EMPRESAS_ds0819.pdf

The Debtor is represented by Charles A. Cuprill, Esq. --
ccuprill@cuprill.com -- at CHARLES A. CUPRILL P.S.C. LAW OFFICES,
in San Juan, Puerto Rico.

                    About Empresas Interex Inc.

San Juan, Puerto Rico-based Empresas Interex Inc. is engaged in
the development, construction, and lease of real estate.  One of
the Debtor's construction project is known as Ciudad Atlantis at
Hato Bajo Ward, Arecibo, Puerto Rico.

Empresas Interex filed for Chapter 11 bankruptcy (Bankr. D.P.R.
Case No. 11-10475) on Dec. 7, 2011.  Bankruptcy Judge Mildred
Caban Flores presides over the case.  The company disclosed
$11,412,500 in assets and $9,335,561 in liabilities.  The Debtor
is represented by CHARLES A. CUPRILL P.S.C. LAW OFFICES.


ENVIRONMENTAL WORLDWIDE: Incurs $4-Mil. Net Loss in Second Quarter
------------------------------------------------------------------
Environmental Solutions Worldwide, Inc., filed its quarterly
report on Form 10-Q, reporting a net loss of $4.0 million on
$3.3 million of revenue for the three months ended June 30, 2013,
compared with a net loss of $258,197 on $2.3 million of revenue
for the same period last year.

The Company reported a net loss of $4.6 million on $4.7 million of
revenue for the six months ended June 30, 2013, compared with a
net loss of $684,268 on $4.9 million of revenue for the comparable
period of 2012.

                          2013 vs. 2012

"In the second quarter of 2013, sales of the ThermaCat
significantly rose relative to a slow first quarter.

"Loss from operations for the three month period ended June 30,
2013, increased by $2,249,484, to $2,507,681 from $258,197 for the
three month period ended June 30, 2012.  ESW's loss from
operations for the three month period ended June 30, 2013,
included the following non-cash items: a one-time warranty
provision of $1,504,900, depreciation expenses of $168,418 and
loss on write down of inventory of $230,002.  In addition loss
from operations was higher in the three month period ended
June 30, 2013, as compared to June 30, 2012, due to expenses
related to the set-up of ESWCT operations in San Diego.

"During the three month period ended June 30, 2013, the Company
recorded the following costs and gain related to a senior secured
convertible loan facility:

  * $68,811    - Interest on notes payable to related parties

  * $44,381    - Debt related discount amortization

  * $1,330,893 - Loss on convertible derivative

"No costs related to financing and debt transactions were incurred
in the six month period ended June 30, 2012.

                    1H of 2013 vs. 1H of 2012

"The decrease in revenue [for the six months period ended June 30,
2013] is related to reduced sales of military product in 2013
versus prior year, the growth in market demand for passive-
regeneration retrofit products in the first half of 2013, and
uncertainty in the retrofit market with the shutdown of Cleaire's
operations.

"Loss from operations for the six month period ended June 30,
2013, increased by $2,287,213 to $3,425,381 from $1,138,168 for
the six month period ended June 30, 2012.  ESW's loss from
operations for the six month period ended June 30, 2013, included
the following non-cash items: a one-time warranty provision of
$1,504,900, depreciation expenses of $339,019, loss on write down
of inventory of $230,002 and stock based compensation expense of
$172,951.  In addition, loss from operations was higher in the six
month period ended June 30, 2013, as compared to June 30, 2012,
due to expenses related to the set-up of ESWCT operations in San
Diego.

"Effective Feb. 3, 2012, ESW's wholly-owned non-operational
subsidiary BBL Technologies Inc., filed for bankruptcy in the
Province of Ontario, Canada.  Due to the insolvency of BBL, the
redeemable Class A special shares were cancelled and the Company
recorded a $453,900 gain on the consolidated condensed statement
of operations and comprehensive loss [for the six months period
ended June 30, 2012].

During the six month period ended June 30, 2013, the Company
recorded the following costs and gain related to a senior secured
convertible loan facility:

  * $72,311    - Interest on notes payable to related parties

  * $46,437    - Debt related discount amortization

  * $1,038,323 - Loss on convertible derivative

No costs related to financing and debt transactions were incurred
in the six month period ended June 30, 2012."

                           Balance Sheet

The Company' balance sheet at June 30, 2013, showed $8.7 million
in total assets, $10.2 million in total liabilities, and a
stockholders' deficit of $1.5 million.

                     Going Concern Uncertainty

"The Company has sustained recurring operating losses.  As of
June 30, 2013, the Company had an accumulated deficit of
$59,092,830 and has cash and cash equivalents of $2,550,537.
ESW's history of losses and the current prevailing economic
conditions all create uncertainty in the operating results and,
accordingly, there is no assurance that the Company will be
successful in generating sufficient cash flow from operations or
achieving profitability in the near future.  As a result, there is
substantial doubt regarding the Company's ability to continue as a
going concern."

A copy of the Form 10-Q is available at http://is.gd/EKVWMZ

Montgomerville, Pa.-based Environmental Solutions Worldwide, Inc.,
through its wholly-owned subsidiaries is engaged in the design,
development, manufacturing and sales of emissions control
technologies.  ESW also provides emissions testing and
environmental certification services with its primary focus on the
North American on-road and off-road diesel engine, chassis and
after-treatment market.  ESW currently manufactures and markets a
line of catalytic emission control and enabling technologies for a
number of applications focused on the medium and heavy duty diesel
("MHDD") retrofit market.


EQUIPOWER RESOURCES: Moody's Cuts First Lien Debt's Rating to B1
----------------------------------------------------------------
Moody's Investors Service downgraded EquiPower Resources Holdings'
1st lien debt facilities to B1 from Ba3 and assigned a B1 rating
to EquiPower's new $635 million tranche C term loan. Moody's
expects to withdraw the rating on the Project's 2nd lien term loan
once it is repaid at financial close. The rating outlook is
stable. This concludes the review for possible downgrade initiated
on April 30, 2013.

On August 20, the Federal Energy Regulatory Commission approved
the acquisitions of Kincaid, Brayton Point, and 50% of Elwood
Energy from Dominion Resources, Inc. Moody's understands no
further approvals are necessary to close the acquisition of
Kincaid and 50% of Elwood and that the associated financing (the
Transaction) will be completed shortly. EquiPower is not acquiring
Brayton Point. EquiPower's debt financing consists of $1.3 billion
in 1st lien term loans and a $146 million 1st lien working capital
facility.

Ratings Rationale:

The downgrade of EquiPower's 1st lien debt facilities to B1 from
Ba3 reflects Moody's expectation that the Transaction will close
shortly and the key credit drivers for the B1 rating remain
unchanged since the review for possible downgrade was initiated on
April 30, 2013. Specifically, the financing for the Transaction
will result in incremental debt, the effective combining of the
current 1st and 2nd lien debt into a single tranche, the reduction
in debt service reserve to 6 months from 12 months, moderately
increased leverage at around 65% debt to capital, and the
weakening of covenants including the removal of the financial
covenants from the term loan and a broader allowance for asset
sales, except Liberty Electric Power, (Liberty) subject to minimum
debt repayment thresholds. Also weighing on the B1 rating are
heightened environmental risks at Kincaid, sizeable merchant
energy and capacity exposure, refinancing risk, and financial
metrics in the 'B' category under Moody's conservative scenarios.

That said, EquiPower benefits from portfolio diversification of
seven assets across four states with transparent capacity and
energy markets, about 50% of gross margins hedged under
management's base case through either energy hedges or known
capacity prices, termination of the Connecticut generator tax
after September 2013, and some project finance features including
the inability to sell Liberty and a 100% excess cash sweep.
Moody's considers EquiPower's diversification across multi-regions
to be a key strength that helps blunt the impact of new
environmental regulations. Additional credit strengths include
enhanced liquidity via the approximately $110 million of expected
availability under the project's expected $146 million revolving
credit facility, the attractive competitive position of four of
the main cash flow generating plants, and EquiPower's resiliency
to Moody's conservative cases, albeit with low metrics.

EquiPower's stable outlook reflects Moody's expectation of
consolidated FFO/Debt of around 6% and a Debt Service Coverage
Ratio (DSCR) of around 1.7 times under conservative assumptions.
The stable outlook also considers Moody's view that energy prices
will moderately improve over time and that the environmental work
scheduled for Kincaid will be completed by year-end 2013.

In light of this rating action, limited prospects exist for a
rating upgrade in the near term. Over the longer term, positive
trends that could lead to an upgrade include substantial debt
reduction according to the management case or significant
additional contracted cash flows that sustain 'Ba' category
financial metrics under Moody's methodology on a continuing basis,
along with the resolution of any environmental uncertainty at
Kincaid.

The rating could be downgraded if the EquiPower incurs operating
problems, if the EquiPower's financial metrics fall below
expectations or if EquiPower's debt amortization ends up being
significantly below forecasted levels. Additionally, the inability
to extend the revolving credit facility well-in advance of the
2017 maturity or environmental costs substantially higher than
expected at Kincaid could pressure EquiPower's credit quality.

EquiPower expects to have full or partial ownership interests in
seven power projects totaling a net 4,204 MW. The projects consist
of the 812 MW Lake Road and 548 MW Milford projects in
Connecticut, the 568 MW Liberty asset in Pennsylvania, the 1,100
MW Kincaid coal plant in Illinois, 50% interest in the 1,487 MW
Elwood plant in Illinois, and the 264 MW MassPower and 168 MW
Dighton projects in Massachusetts. These assets reached commercial
operation from 1993 to 2004 except for Kincaid. EquiPower is owned
by EquiPower Resources Corp. EquiPower Resources Corp is owned by
a private equity fund managed by Energy Capital Partners and
several of the funds co-investors. Energy Capital Partners manages
private equity funds that invest in the power generation,
midstream gas, renewable energy, and electric transmission sectors
of North America's energy infrastructure.

The principal methodology used in this rating was Power Generation
Projects published in December 2012.


FOURTH QUARTER PROPERTIES: Sept. 13 Hearing on Exclusivity
----------------------------------------------------------
The U.S. Bankruptcy Court continued until Sept. 13, 2013, at
10 a.m., the hearing to consider Fourth Quarter Properties XXXVIII
LLC's motion to extend its exclusive periods to file and solicit
acceptances for a proposed Chapter 11 Plan.

As reported in the Troubled Company Reporter on Aug. 14, 2013,
with the consent of Cornerstone Commercial Mortgages, LLC, and
Charter Bank, the Debtor asked the Court for a continuance of the
Aug. 6 hearing on the motion for exclusivity extension until
Sept. 13.

According to papers filed with the Court Aug. 6, the parties have
reached an agreement regarding their claims and the resolution of
the Debtor's case, subject to the Court's approval, and the Debtor
has contemporaneously filed a motion to approve settlement with
Cornerstone and Charter.  The Parties have agreed, subject to the
Court's approval, to the continuance of the hearing on the
Debtor's Motion to Extend Exclusivity, until the Court has had an
opportunity to hear the Settlement Motion.

As reported in the TCR on July 10, 2013, the Debtor asked that the
Court extend its exclusive periods to file and solicit acceptances
of a plan for 60 days, through and including Sept. 3, 2013, and
Nov. 2, respectively.

                 About Fourth Quarter Properties

Fourth Quarter Properties XXXVIII, LLC, filed a Chapter 11
petition (Bankr. N.D. Ga. Case No. 13-10585) in Newnan, Georgia,
on March 5, 2013.  The Debtor is a single asset real estate debtor
as defined in 11 U.S.C. Sec. 101(51B) and has property in 45, 47
& 59 Ansley Drive, in Newnan.  The Debtor estimated at least
$10 million in assets and at least $1 million in liabilities as of
the Chapter 11 filing.

Austin E. Carter, Esq., and Matthew Stewart Cathey, Esq., at Stone
& Baxter, LLP, in Macon, Georgia, serve as the Debtor's counsel.


FURNITURE BRANDS: Fails to Cure NYSE MKT Listing Non-Compliance
---------------------------------------------------------------
Furniture Brands International on Aug. 23 disclosed that it will
voluntarily delist its common stock from The New York Stock
Exchange and transfer quotation of its common stock to the OTCQB
Marketplace.  The company's decision to voluntarily delist the
common stock and transfer to the OTCQB was driven by a number of
factors, including its non-compliance with the NYSE's market
capitalization and stockholders' equity requirements.


The company expects to file an application on Form 25 to notify
the Securities and Exchange Commission of its withdrawal of its
common stock from listing on the NYSE.  The company expects that
the last day of trading of its common stock on the NYSE will be on
or about August 27, 2013 and that the next trading day will be the
first day of quotation on the OTCQB.

The company will issue a subsequent press release confirming the
first trading date on the OTCQB and the trading symbol for the
OTCQB before the transfer occurs.  Following the transfer, the
company will continue to file the same periodic reports and other
information it currently files with the SEC.

As previously announced, on July 10, 2013, the company received a
notice from the NYSE that it had fallen below the NYSE's continued
listing criteria requiring listed companies to maintain an average
market capitalization of not less than $50 million over a
consecutive 30 trading-day period and total stockholders' equity
of not less than $50 million.  On July 15, 2013, the company
announced its intention, in accordance with NYSE rules, to submit
a business plan to the NYSE within 45 days from the notice date to
attempt to demonstrate its ability to cure the non-compliance
within an 18-month period.  Subsequently, the company's absolute
market capitalization has fallen below $15 million.  If the
company's average market capitalization for 30 trading-days is
below $15 million, the company will be subject to initiation of
delisting procedures by the NYSE without regard to the submission
of a business plan for attempting to cure non-compliance.  As a
result, and in light of its decision to voluntarily delist, the
company has informed the NYSE that it will not be submitting a
business plan.

The company made the decision to voluntarily delist from the NYSE
because it believes it will not be able to comply with the NYSE's
continued listing criteria.  The company believes that this
voluntary transfer to the OTCQB will provide greater certainty and
assist in an orderly transition.

                       About Furniture Brands

Furniture Brands International -- http://www.furniturebrands.com
-- engages in designing, manufacturing, sourcing and retailing
home furnishings.  Furniture Brands markets products through a
wide range of channels, including company owned Thomasville retail
stores and through interior designers, multi-line/ independent
retailers and mass merchant stores.  Furniture Brands serves its
customers through some of the best known and most respected brands
in the furniture industry, including Thomasville, Broyhill, Lane,
Drexel Heritage, Henredon, Pearson, Hickory Chair, Lane Venture,
Maitland-Smith and LaBarge.


GALA CORAL: Sees Modest Growth but Challenges Remain
----------------------------------------------------
Ayesha Javed, writing for DBR Small Cap, reported that Gala Coral
Group Ltd., the U.K. betting and gambling operator seized by its
mezzanine lenders in 2010, has achieved modest growth in earnings
and debt reduction in its third quarter, ending July 6, according
to company accounts filed this week.  But the group's bingo and
casino businesses continue to suffer from fewer customers, the
report said.

Gala Coral Group Ltd. -- http://www.galacoral.co.uk/-- is a
gaming company in the UK, with operations encompassing bingo,
casinos, and sports betting.  It runs more than 150 bingo halls
throughout the country, as well as some 30 casinos.  The company
is also a bookmarker with nearly 1,600 betting shops and online
betting sites.  Gala Coral Group was formed in 2005 when Gala
Group acquired Coral Eurobet.  The company is jointly owned by
private equity firms Cinven Group, Candover Investments, and
Permira.

As reported by the Troubled Company Reporter-Europe on June 23,
2010, the FT said that Gala finalized a restructuring of its
GBP2.5 billion (US$3.7 billion) debt.  The FT disclosed as a
result, Gala is freed from GBP588 million of mezzanine debt that
is being written off in exchange for giving creditors control of
the business.  The FT said the new shareholder group will be led
by Apollo Management, Cerberus, Park Square Capital and York
Capital, which are providing GBP200 million to repay debt.


GATEWAY ENERGY: Incurs $160K Net Loss in Second Quarter
-------------------------------------------------------
Gateway Energy Corporation reported a net loss of $159,675 and
$446,416 for the three and six months ended June 30, 2013,
compared with a net loss of $49,100 and $195,849 for the three and
six months ended June 30, 2012, respectively.

Operating revenues were $1.5 million and $2.8 million for the
three and six months ended June 30, 2013, compared with operating
revenues of $1.3 million and $2.7 million for the three and six
months ended June 30, 2012, respectively.

The Company's balance sheet at June 30, 2013, showed $4.5 million
in total assets, $3.7 million in total liabilities, and
stockholders' equity of $848,656.

The Company said: "Based on the Company's cash position and its
projected cash flows from operations as of June 30, 2013, the
Company will not have the ability to repay its existing debt
obligations (including its $1,682,674 current debt obligation),
the customer demand amount, committed capital expenditures or
asset retirement obligations unless it is able to obtain
additional financing or raise cash through other means, such as
asset sales.  If the Company is unsuccessful in those efforts, if
it is unable to successfully resolve the foregoing customer claim
or if Meridian Bank exercises its right to declare the outstanding
balance of the Meridian Loan Agreement immediately due and
payable, the Company and/or its subsidiaries, including Gateway
Offshore Pipeline Company, may be unable to continue its
operations or be required to seek bankruptcy protection."

According to the regulatory filing, the foregoing conditions,
among others, create a deficiency in short term and long term
liquidity and raise substantial doubt about the Company's ability
to continue as a going concern.

A copy of the Form 10-Q is available at http://is.gd/VReld0

Houston-based Gateway Energy Corporation is engaged in the
midstream natural gas business.  The Company owns and operates
natural gas distribution, transmission and gathering systems
located onshore in the continental United States and offshore in
federal and state waters of the Gulf of Mexico.


GIL INC: Updated Case Summary & Creditors' Lists
------------------------------------------------
Lead Debtor: GIL, Inc.
             1150 E. Plant Street, Suite F
             Winter Garden, FL 34787

Bankruptcy Case No.: 13-10404

Chapter 11 Petition Date: August 21, 2013

Court: United States Bankruptcy Court
       Middle District of Florida (Orlando)

Debtors' Counsel: Justin M. Luna, Esq.
                  Christopher R. Thompson, Esq.
                  LATHAM, SHUKER, EDEN & BEAUDINE, LLP
                  P.O. Box 3353
                  Orlando, FL 32802-3353
                  Tel: (407) 481-5800
                  Fax: (407) 481-5801
                  E-mail: jluna@lseblaw.com
                          bknotice@lseblaw.com

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

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

Affiliates that simultaneously filed separate Chapter 11
petitions:

   Debtor                              Case No.
   ------                              --------
Exclusive Homes, Inc.                  13-10405
  Assets: $1,000,001 to $10,000,000
  Debts: $1,000,001 to $10,000,000

The petitions were signed by George D. Laman, president.

A. A copy of GIL's list of its 20 largest
unsecured creditors filed together with the petition is available
for free at http://bankrupt.com/misc/flmb13-10404.pdf

B. A copy of Exclusive Homes' list of its 20 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/flmb13-10405.pdf


GLOBAL BEVERAGE: Suspending Filing of Reports with SEC
------------------------------------------------------
Global Beverage Solutions, Inc., filed with the U.S. Securities
and Exchange Commission a Form 15 to voluntarily terminate the
registration of its common stock, $0.001 par value.  As of
Aug. 12, 2013, there were only 395 holders of records of the
common shares.  As a result of the Form 15 filing, the Company
will not anymore be obligated to file reports with the SEC.

                       About Global Beverage

Headquartered in Plantation, Fla., GlobaL Beverage Solutions Inc.
(OTC BB: GBVS.OB) -- http://www.globalbeveragesolutions.com/-- is
a business development company organized pursuant to applicable
provisions of the Investment Company Act of 1940.  The company
primarily focuses on manufacturing, distribution and sales of
unique beverages globally.

The Company has not filed financial reports on Form 10-Q or 10-K
with the Securities and Exchange Commission since November 2008.
The Company's principal accountant, Turner, Stone & Company, LLP,
resigned in April 2009.  The Company hired a new accountant
Lawrence Scharfman & Co CPA PA, Certified Public Accountants but
terminated the engagement in August 2009 after the Company was
advised by the SEC that Scharfman was not registered with the
Public Company Accounting Oversight Board.

As reported in the Troubled Company Reporter on May 14, 2008,
Turner, Stone & Company LLP, in Dallas, expressed substantial
doubt about Global Beverage Solutions Inc.'s ability to continue
as a going concern after auditing the company's consolidated
financial statements for the the year ended Dec. 31, 2007.

As of September 30, 2008, the Company had an accumulated deficit
totaling $35,860,896.  It also had a net loss of $1,252,987 during
the nine months ended September 30, 2008.

As of September 30, 2008, the Company's balance sheet showed total
assets of $3,125,389 and total liabilities of $8,815,558,
resulting in total stockholders' deficit of $5,690,169.


GLOBAL FOOD: Incurs $753,500 Net Loss in Second Quarter
-------------------------------------------------------
Global Food Technologies, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $753,504 on $580,790 of revenues for the three
months ended June 30, 2013, as compared with a net loss of
$796,659 on $36,540 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 $1.39 million on $830,031 of revenues, as compared with a
net loss of $1.45 million on $66,276 of revenues for the same
period last year.

The Company's balance sheet at June 30, 2013, showed $823,533 in
total assets, $4.51 million in total liabilities, all current, and
a $3.69 million total stockholders' deficit.

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

                        http://is.gd/Sk866x

                         About Global Food

Headquartered in Hanford, California, Global Food Technologies,
Inc., is a life sciences company focused on food safety processes
for the food processing industry by using its proprietary
scientific processes to substantially increase the shelf life of
commercially packaged seafood and to make those products safer for
human consumption.  The Company has developed a process using its
technology called the "iPuraT Food Processing System".  The System
is installed in processor factories in foreign countries with the
product currently sold in the United States.

Global Food disclosed a net loss of $3.07 million on $377,036 of
sales for the year ended Dec. 31, 2012, as compared with a net
loss of $3.68 million on $133,078 of sales during the prior year.

Squar, Milner, Peterson, Miranda & Williamson, LLP, in Newport
Beach, California, 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 a significant accumulated deficit through Dec. 31, 2012,
has significant negative cash flow from operating activities for
the year ended Dec. 31, 2012, and has negative working capital at
Dec. 31, 2012.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


GLYECO INC: Incurs $199,000 Net Loss in Second Quarter
------------------------------------------------------
Glyeco, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $199,435 on $1.41 million of net sales for the three months
ended June 30, 2013, as compared with a net loss of $506,911 on
$173,117 of net sales for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $678,363 on $2.65 million of net sales, as compared with a
net loss of $818,818 on $591,934 of net sales for the same period
a year ago.

As of June 30, 2013, the Company had $9.86 million in total
assets, $3.43 million in total liabilities, $1.17 million in
redeemable series AA convertible preferred stock, and $5.26
million in total stockholders' equity.

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


                         http://is.gd/jmHTyj

                         About GlyEco, Inc.

Phoenix, Ariz.-based GlyEco, Inc., is a green chemistry company
formed to roll-out its proprietary and patent pending glycol
recycling technology that transforms waste glycols, a hazardous
material, into profitable green products.

Glyeco disclosed a net loss of $1.86 million on $1.26 million of
net sales for the year ended Dec. 31, 2012, as compared with a net
loss of $592,171 on $824,289 of net sales for the year ended Dec.
31, 2011.

Jorgensen & Co., in Lehi, UT, 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 not yet achieved profitable operations and is
dependent on its ability to raise capital from stockholders or
other sources and other factors to sustain operations.  These
factors, among other matters, raise substantial doubt that the
Company will be able to continue as a going concern.


GUIDED THERAPEUTICS: Incurs $1.7 Million Net Loss in 2nd Qtr.
-------------------------------------------------------------
Guided Therapeutics, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $1.75 million on $222,000 of contract and grant
revenue for the three months ended June 30, 2013, as compared with
a net loss of $1.16 million on $915,000 of contract and grant
revenue for the same period a year ago.

For the six months ended June 30, 2013, the Company reported a net
loss of $3.56 million on $389,000 of contract and grant revenue,
as compared with a net loss of $2.18 million on $1.63 million of
contract and grant revenue for the same period during the prior
year.

The Company's balance sheet at June 30, 2013, showed $4.39 million
in total assets, $2.65 million in total liabilities and $1.74
million in total stockholders' equity.

                          Bankruptcy Warning

"Management may obtain additional funds through the private sale
of preferred stock or debt securities, public and private sales of
common stock, funding from collaborative arrangements, and grants,
if available, and believes that such financing will be sufficient
to support planned operations through the fourth quarter of 2014.
If sufficient capital cannot be raised by the end of the fourth
quarter of 2014, the Company has plans to curtail operations by
reducing discretionary spending and staffing levels, and
attempting to operate by only pursuing activities for which it has
external financial support, such additional NCI, NHI or other
grant funding.  However, there can be no assurance that such
external financial support will be sufficient to maintain even
limited operations or that the Company will be able to raise
additional funds on acceptable terms, or at all.  In such a case,
the Company might be required to enter into unfavorable agreements
or, if that is not possible, be unable to continue operations, and
to the extent practicable, liquidate and/or file for bankruptcy
protection," the Company said in the interim report.

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

                         http://is.gd/sMJGBU

                      About Guided Therapeutics

Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP)
-- http://www.guidedinc.com/-- is developing a rapid and painless
test for the early detection of disease that leads to cervical
cancer.  The technology is designed to provide an objective result
at the point of care, thereby improving the management of cervical
disease.  Unlike Pap and HPV tests, the device does not require a
painful tissue sample and results are known immediately.  GT has
also entered into a partnership with Konica Minolta Opto to
develop a non-invasive test for Barrett's Esophagus using the
LightTouch technology platform.

Guided Therapeutics disclosed a net loss of $4.35 million on $3.33
million of contract and grant revenue for the year ended Dec. 31,
2012, as compared with a net loss of $6.64 million on $3.59
million of contract and grant revenue in 2011.

UHY LLP, in Sterling Heights, Michigan, issued a "going concern"
qualification on the Company's consolidated financial statements
for the year ended Dec. 31, 2012, citing recurring losses from
operations and accumulated deficit that raise substantial doubt
about its ability to continue as a going concern.


GYMBOREE CORP: Bank Debt Trades At 4% Off
-----------------------------------------
Participations in a syndicated loan under which Gymboree Corp. is
a borrower traded in the secondary market at 95.79 cents-on-the-
dollar during the week ended Friday, August 23, 2013, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 0.76 of
percentage points from the previous week.  The bank loan matures
on Feb. 23, 2018.  The Company pays 350 basis points above LIBOR
to borrow under the facility.  The bank debt is rated by Moody's
B2 and Standard & Poor's B- rating.  The loan is one of the
biggest gainers and losers among 254 widely quoted syndicated
loans with five or more bids in secondary trading for the week
ended Friday.

Headquartered in San Francisco, California, The Gymboree
Corporation is a leading retailer of infant and toddler apparel.
The company designs and distributes infant and toddler apparel
through its stores which operates under the "Gymboree", "Gymboree
Outlet", "Janie and Jack" and "Crazy 8" brands in the United
States, Canada and Australia. Revenues are approximately $1.2
billion. The company is owned by affiliates of Bain Capital
Partners LLC.


HCA INC: Fitch Affirms 'B+' Issuer Default Rating
-------------------------------------------------
Fitch Ratings has affirmed HCA Inc.'s (HCA) 'B+' Issuer Default
Rating (IDR) and upgraded the unsecured notes rating to 'BB-' from
'B+'. The Rating Outlook is revised to Positive from Stable. A
full list of ratings follows at the end of this release. The
ratings apply to $28.2 billion of debt outstanding at June 30,
2013.

KEY RATING DRIVERS

-- HCA has good headroom in credit metrics at the 'B+' rating
   category. Fitch forecasts total debt-to-EBITDA of 4.5x and
   EBITDA-to-gross interest expense of 3.5x at the end of 2013.

-- HCA's financial flexibility has improved following the
   extension of its 2013 and 2016 debt maturity walls and
   refinancing of high coupon second lien secured debt at lower
   rates.

-- Fitch expects continued solid discretionary free cash flow
   (FCF; cash from operations less capital expenditures and
   distributions to minority interests) of about $1.2 billion
   annually for HCA in 2013.

-- While strong cash generation could support debt pay down, Fitch
   does not believe that there is compelling financial incentive
   for the company to apply cash to debt reduction.

-- HCA's debt agreements do not significantly limit the company's
   ability to undertake leveraging transactions. A demonstrated
   commitment to maintaining debt below 4.5x EBITDA would support
   a positive rating action.

SOLID FINANCIAL FLEXIBILITY

HCA has recently improved its balance sheet flexibility by
extending near-term debt maturities, eliminating high coupon
second lien secured notes from the capital structure, and securing
a reduction in pricing on a cumulative $5.1 billion in bank loans.
Near-term maturities remaining in the capital structure are
manageable and include $341 million of bank term loans maturing in
2013 and $81 million of bank term loans and $621 million of HCA
Inc. unsecured notes maturing in 2014.

At June 30, 2013, HCA's liquidity included $462 million of cash on
hand, $3.0 billion of capacity on its bank facility revolving
loans and latest 12 month (LTM) discretionary FCF of about $ 1.1
billion. HCA's LTM EBITDA-to-gross interest expense was solid for
the 'B+' rating category at 3.5x and the company had about a 35%
EBITDA cushion under its bank facility financial maintenance
covenant, which requires debt net of cash maintained below 6.75x
EBITDA.

Fitch's 2013 operating forecast for HCA projects the company
generating $3.6 billion - $3.7 billion in cash from operations
(CFO) and about $1.2 billion in discretionary FCF, assuming
capital expenditures of $2.0 billion and minority distributions of
about $400 million. This is an approximately $680 million drop
versus the 2012 level, and is consistent with Fitch's forecast for
the broader for-profit hospital sector in 2013.

Fitch expects a lower level of profitability and cash generation
for most hospital companies in 2013, with operating trends
influenced by various economic, policy and company specific
headwinds. With respect to HCA, the absence of a one-time $270
million Medicare settlement received in 2012, higher capital
expenditures and lower electronic health record (EHR) incentive
payments in 2013 explain most of the drop in forecasted cash flow.

EVOLVING CAPITAL DEPLOYMENT STRATEGY

The sponsors of a 2006 LBO directed HCA's financial strategy for
the last several years. Following a series of public equity
offerings and a buyback of Bank of America's shares, HCA was no
longer considered a controlled company as of February 2013, and
must appoint a majority of independent directors during 2014. Four
of the 14 current Board of Director members are independent. In
addition, the company's CEO has announced plans to retire at the
end of 2013. The CEO will stay on as Chairman of the Board and the
current CFO will assume the CEO position.

Although Fitch does not expect a major departure in strategic
direction under an independent board or different CEO, there may
be some shifts in the company's capital deployment strategy. Under
the direction of the LBO sponsors, HCA managed its capital
structure in an aggressively shareholder-friendly manner, paying
out $7.4 billion in special dividends since 2010 that were largely
debt financed.

With the 2014 implementation of the coverage expansion elements of
the Affordable Care Act (ACA) encouraging scale and consolidation
in the hospital industry, Fitch thinks HCA is now more likely to
prioritize acquisitions and capital investment as a use of cash as
opposed to debt reduction or payments to shareholders. The
company's recent acquisitions have been small though; the last
large transaction was in late 2011 when HCA acquired the 40%
remaining ownership interest in the Denver, CO HealthONE joint
venture for $1.45 billion.

HCA could increase debt to fund further dividends to shareholders
or acquisitions. The debt agreements do not significantly limit
the ability to issue additional debt. The bank agreements include
a 3.75x first lien secured leverage ratio debt incurrence test and
a 6.75x net debt-to-EBITDA financial maintenance covenant. At 4.4x
at June 30, 2013, debt leverage is consistent with that of HCA's
peer companies. While discretionary FCF generation could support
debt pay down, Fitch does not believe that there is compelling
financial incentive for the company to significantly reduce its
debt balances, so it expects that any further leverage reduction
will come from incremental growth in EBITDA.

HOSPITAL INDUSTRY OUTLOOK BOOSTED BY ACA

Fitch projects a positive benefit to the hospital industry's
revenue and cash flow generation from the implementation of the
ACA in 2014 - 2015. The initial benefits to the industry are the
result of the coverage expansion elements of the legislation,
including the individual mandate to purchase health insurance and
expansion of Medicaid eligibility. An increase in the number of
individuals with health insurance will lead to a drop in
uncompensated care and associated bad debt expense for hospital
providers, as well as an increase in the organic volume of
patients. The positive boost to financial trends is likely to
erode over time as hospital providers experience lower payment
rates from both government and private insurers in the subsequent
years.

The start of the ACA coverage expansion coincides with a prolonged
trend of weak organic patient volume growth in the hospital
sector, which is partly explained by weak economic conditions and
party by secular changes in the healthcare delivery system. As the
largest operator of acute-care hospitals in the country, with a
broad geographic footprint, HCA is in a decent position to capture
market share to whatever extent the ACA results in a boost in
patient volumes. However, almost half of HCA's revenues come from
its hospitals in Florida and Texas, two states that appear
unlikely to expand Medicaid eligibility in 2014. This will dampen
the ACA's tailwind to revenue and EBITDA for HCA.

HCA's organic revenue growth has outpaced that of the broader for-
profit hospital industry since early 2012. Operating concerns
center on a deteriorating patient payor mix with shifts to less
profitable government volumes. Growth in pricing has recently
lagged the broader industry for HCA and other urban market
hospital companies (Tenet, Universal Health Services) as a result
of the higher volumes of Medicaid and uninsured patient volumes,
although HCA did post improved growth in pricing of 2.9% in Q2'13.

RATING SENSITIVITIES

With LTM debt-to-EBITDA of 4.4x and EBITDA-to-gross interest
expense of 3.5x, HCA's credit metrics are strong relative to the
'B+' IDR. A one-notch upgrade to 'BB-' will require HCA to
maintain debt below 4.5x EBITDA. In addition, the following
factors would support an upgrade:

-- More information on how HCA intends to manage capital
   deployment under an independent board and new CEO.

-- Sustained improvement in organic operating trends, in
   particular a continuation of the stronger growth in pricing
   seen in Q2'13.

-- Better clarity on the effects of the ACA on operating results.
   Fitch believes that the coverage expansion elements of the ACA
   will be a tailwind to revenue and EBITDA growth starting in
   2014, but there is still considerable uncertainty about the
   magnitude of the influence.

A downgrade of the ratings is not likely in the near-term but
could result from debt above 5.0x EBITDA and interest coverage
below 3.0x EBITDA because of a stressed operating scenario and
aggressive capital deployment. Fitch sees the most likely driver
of a stressed operating scenario as continued weakness in payments
due to ongoing strained government payor reimbursement coupled
with persistent shift in HCA's mix of patients to those with less
profitable Medicaid coverage, as well as uninsured patients.

DEBT ISSUE RATINGS AND RECOVERY ANALYSIS

Fitch has taken the following actions on HCA's ratings:

HCA, Inc.
-- IDR affirmed at 'B+';

-- Senior secured credit facilities (cash flow and asset backed)
   affirmed at 'BB+/RR1' (100% estimated recovery);

-- Senior secured first lien notes affirmed at 'BB+/RR1' (100%
   estimated recovery);

-- Senior unsecured notes upgraded to 'BB-/RR3' (65% estimated
   recovery).

HCA Holdings Inc.
-- IDR affirmed at 'B+';
-- Senior unsecured notes affirmed at 'B-/RR6' (0% estimated
   recovery).

The upgrade of HCA Inc. unsecured notes is based on improved
recovery prospects for bondholders. The recovery ratings are based
on a financial distress scenario which assumes that value for
HCA's creditors will be maximized as a going concern (rather than
a liquidation scenario). Fitch estimates a post-default EBITDA for
HCA of $3.9 billion, which is a 40% haircut from the LTM EBITDA
level of $6.5 billion. A 40% haircut represents roughly the level
of EBITDA decline that would trip the 6.75x net leverage bank
facility financial maintenance covenant.

Fitch then applies a 7.0x multiple to post-default EBITDA,
resulting in a post-default EV of $27.2 billion for HCA. The
multiple is based on observation of both recent
transactions/takeout and public market multiples in the healthcare
industry. This represents a haircut to recently announced hospital
industry transaction multiples (Tenet Healthcare Corp. to purchase
Vanguard Health Systems in a deal valued at 7.9x LTM EBITDA and
Community Health Systems' offer to acquire Health Management
Associates for 8.2x LTM EBITDA).

Fitch applies a waterfall analysis to the post-default EV based on
the relative claims of the debt in the capital structure.
Administrative claims are assumed to consume $2.7 billion or 10%
of post-default EV, which is a standard assumption in Fitch's
recovery analysis. Fitch assumes that HCA would fully draw the
$2.0 billion available balance on its cash flow revolver and 50%
of the $2.5 billion available balance on its asset backed lending
facility.

The 'BB+/RR1' rating for HCA's secured debt (which includes the
bank credit facilities and first lien notes) reflects Fitch's
expectations for 100% recovery under a bankruptcy scenario. The
'BB-/RR3' rating on the HCA Inc. unsecured notes rating reflects
Fitch's expectations for recovery of 65%. The 'B-/RR6' rating on
the HCA Holdings, Inc. unsecured notes, including the proposed
notes, reflects expectation of 0% recovery.

Based on Fitch's current recovery assumptions, HCA has capacity to
issue up to an additional $1.2 billion of secured debt without
diminishing recovery prospects for the HCA Inc. unsecured note
holders to below the 'RR3' recovery band of 51%-70%. Should the
company increase the amount of secured debt in the capital
structure by more than that amount, Fitch would likely downgrade
the HCA Inc. unsecured notes by one-notch, to 'B+/RR4. The ratings
on the secured debt and HCA Holdings Inc. unsecured notes would
not be affected.

HCA has good incremental capacity for additional secured debt
issuance under its debt agreements. The only limit on secured debt
is a 3.75x first lien leverage ratio test in the bank agreements.
First lien debt includes the bank debt and the first lien secured
notes. At June 30, 2013, total first lien debt equals $17.5
billion and 2.7x debt-to-EBITDA. Based on $6.5 billion in LTM
EBITDA, Fitch estimates total first lien secured debt capacity of
$24.4 billion, implying additional first lien capacity of about
$6.9 billion.


HIGHWAY TECHNOLOGIES: Amends Schedules of Assets and Liabilities
----------------------------------------------------------------
Highway Technologies, Inc., filed an amendment to its schedules of
assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $41,350,616
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $67,109,036
  E. Creditors Holding
     Unsecured Priority
     Claims                                        $1,228,316
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $23,442,828
                                 -----------      -----------
        TOTAL                    $41,350,616      $91,780,181

As reported in the Troubled Company Reporter on July 26, 2013,
Highway Technologies disclosed $41,350,616 in assets and
$92,522,939 in liabilities as of the Chapter 11 filing.

A copy of the amended schedules is available for free at
http://bankrupt.com/misc/HIGHWAY_TECHNOLOGIES_sal_amended.pdf

                    About Highway Technologies

Highway Technologies Inc. and affiliate HTS Acquisition Inc.
sought Chapter 11 protection (Bankr. D. Del. Case Nos. 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: Has Settlement With Baker Firm & Citibank
-----------------------------------------------------
Claire Zillman, writing for The Am Law Daily, reports that Allan
Diamond, the trustee overseeing the liquidation of the Howrey
estate, said on Aug. 16 that he had reached a pair of what he
called "monumental" multimillion dollar settlements with Baker &
Hostetler and Citibank that will help pay off nearly all the
defunct firm's remaining bank debt.

Baker & Hostetler hired 11 former antitrust partners from Howrey
amid that firm's collapse in early 2011.  According to the report,
Baker & Hostetler agreed to pay the Howrey estate $41 million in
cash.  Nearly the entire sum -- $38 million -- comes from attorney
fee awards recovered from settlements in a massive antitrust case
that the former Howrey partners filed on behalf of dairy farmers
while at their own firm and took with them when they joined Baker
& Hostetler.

According to the report, former Howrey partner Robert Abrams --
who now chairs Baker & Hostetler's antitrust practice -- served as
lead attorney for the farmers, who settled their claims against
Dean Foods for $145 million, including $48.33 million in attorney
fees, in June 2012. Their case against the Dairy Farmers of
America settled in January 2013 for $158 million, with $52.66
million of that going to the lawyers on the case.  The Aug. 16
deal also gives the Howrey estate a fixed interest in attorneys
fees that could be awarded in three of the former partners'
ongoing cases.

As part of the settlement, Baker & Hostetler will also pay the
estate $2.3 million to resolve unfinished business claims filed
under the California statute known as Jewel v. Boxer, $275,000 to
end the estate's clawback claims, and $20,000 to settlement claims
related to the $92,204 that Gregory Commins, now a Baker Hostetler
partner, received for his service on Howrey's dissolution
committee.

Steven Kestner -- skestner@bakerlaw.com -- executive partner at
Baker & Hostetler, said in a statement that the firm "is pleased
to have reached this agreement with the trustee."

According to the report, under the terms of the second deal
announced on Aug. 16, the Howrey estate will use $37 million of
the $41 million it is getting from Baker & Hostetler to pay off
all the principal and most of the interest owed to primary lender
Citibank.  That payment will reduce the sum Howrey owes Citibank
to $2.5 million.  The remaining $4 million from the Baker &
Hostetler settlement will go toward the Howrey estate's expenses.

The report says Citibank had no comment on the deal.  Both
settlements are subject to approval by the U.S. Bankruptcy Court
in San Francisco.

                         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.


ICEWEB INC: Incurs $1.6 Million Net Loss in June 30 Quarter
-----------------------------------------------------------
Iceweb, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.59 million on $104,891 of sales for the three months ended
June 30, 2013, as compared with a net loss of $3.99 million on
$654,996 of sales for the same period a year ago.

For the nine months ended June 30, 2013, the Company reported a
net loss of $4.51 million on $873,446 of sales, as compared with a
net loss of $6.52 million on $2.54 million of sales for the same
period a year ago.

The Company's balance sheet at June 30, 2013, showed $1 million in
total assets, $2.74 million in total liabilities and a $1.73
million total stockholders' deficit.

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

                        http://is.gd/FIG3Y8

                            About IceWEB

Sterling, Va.-based IceWEB, Inc., manufactures and markets
purpose-built appliances, network and cloud-attached storage
solutions and delivers on-line cloud computing application
services.  The Company's customer base includes U.S. government
agencies, enterprise companies, and small to medium sized
businesses (SMB).

D'Arelli Pruzansky, P.A., in Boca Raton, Florida, expressed
substantial doubt about IceWEB's ability to continue as a going
concern.  The independent auditors noted that the Company had net
losses of $6,485,048 for the year ended Sept. 30, 2012.

The Company reported a net loss of $6.5 million on $2.6 million of
sales in fiscal 2012, compared with a net loss of $4.7 million on
$2.7 million of sales in fiscal 2011.


IDQ HOLDINGS: S&P Lowers CCR to 'B-'; Outlook Stable
----------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Garland, Texas-based IDQ Holdings Inc. to 'B-' from 'B'.
The outlook is stable.

At the same time, S&P lowered its issue-level rating on the
company's $220 million senior secured notes due 2017 to 'B-' from
'B'.  The recovery rating on this debt remains '4', indicating
S&P's expectation for average (30%-50%) recovery in the event of a
payment default.

"The downgrade reflects IDQ's weakening operating performance and
cash flow generation resulting from unfavorable weather conditions
in the first half of 2013 that resulted in a 17.5% sales decline
in the first half of the year.  Under our revised forecast, we
project IDQ's key credit measures will remain weak in 2013,
including leverage in the mid- to high-5x range and funds from
operations (FFO) to total debt between 3% and 4%.  We expect a
modest rebound in performance in 2014, including a reduction in
leverage to the low-5x area.  However, we still expect metrics
will remain indicative of a "highly leveraged" financial risk
profile over the next year.  Ratios indicative of a highly
leveraged financial risk profile include total debt to EBITDA
above 5x and FFO to total debt below 12%.  Under our prior
forecasts, we had expected the company to reduce leverage to below
5x by the end of fiscal 2013.  In addition to the company's highly
leveraged financial risk profile, the ratings also continue to
reflect our view that the company will continue to maintain a
"vulnerable" business risk profile," S&P said.

Standard & Poor's economists believe the risk of another U.S.
recession during the next 12 months is between 10% and 15%, and
forecast real U.S. GDP growth of 2% in 2013 and 3.1% in 2014.
Considering these economic forecasts, S&P's base-case forecast for
the company's operating performance in fiscal years 2013 and 2014
is as follows:

   -- Mid-teens percentage revenue decline in fiscal 2013
      attributed to unfavorable weather conditions in the first
      half of the year.  S&P assumes sales rebound somewhat, at a
      low- to mid-single-digit revenue growth pace in 2014.  This
      is based on S&P's assumption for weather conditions to not
      have as severe of an impact in 2014 on a comparable basis,
      and for A/C PRO sales to more than offset continued
      shrinkage of the straight refrigerant segment.

   -- EBITDA margins expanding more than 200 basis points in
      fiscal 2013 as a result of a continued favorable mix shift
      toward higher-margin product offerings (as sales of IDQ's
      A/C PRO outpace its straight refrigerant product offering)
      in addition to lower input costs, most notably 134-a
      refrigerant costs;

   -- S&P expects margins will be somewhat stable in fiscal 2014,
      as it expects the company's continued marketing and
      promotional efforts to support education and consumer
      awareness of its products will offset continued favorable
      mix shift;

   -- S&P assumes input costs in 2014 will be close to 2013
      levels, although this remains subject to supply and demand
      dynamics.

   -- S&P believes total capital expenditures will be modest, in
      the low-single-millions area, which generally includes
      maintenance of the sole manufacturing plant as well as
      support of R&D as it pertains to chemical formulations and
      delivery mechanisms.


IZEA INC: Incurs $893,000 Net Loss in Second Quarter
----------------------------------------------------
Izea, Inc., filed with the U.S. Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of
$893,470 on $1.71 million of revenue for the three months ended
June 30, 2013, as compared with a net loss of $1.83 million on
$1.20 million of revenue for the same period during the prior
year.

For the six months ended June 30, 2013, the Company incurred a net
loss of $1.77 million on $3.10 million of revenue as compared with
a net loss of $2.75 million on $2.81 million of revenue for the
same period a year ago.

The Company's balance sheet at June 30, 2013, showed $1.64 million
in total assets, $4.35 million in total liabilities and a $2.70
million total stockholders' deficit.

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


                        http://is.gd/GqLDPV

                          About IZEA, Inc.

IZEA, Inc., headquartered in Orlando, Fla., believes it is a world
leader in social media sponsorships ("SMS"), a rapidly growing
segment within social media where a company compensates a social
media publisher to share sponsored content within their social
network.  The Company accomplishes this by operating multiple
marketplaces that include its platforms SocialSpark,
SponsoredTweets and WeReward, as well as its legacy platforms
PayPerPost and InPostLinks.

The Company has incurred significant losses from operations since
inception and has an accumulated deficit of $20.9 million as of
June 30, 2012.

Cross, Fernandez & Riley, LLP, in Orlando, Florida, expressed
substantial doubt about IZEA's ability to continue as a going
concern, following the Company's results for the fiscal year ended
Dec. 31, 2011.  The independent auditors noted that the Company
has incurred recurring operating losses and had an accumulated
deficit at Dec. 31, 2011, of $18.1 million.


JANABI ASSOCIATES: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Janabi Associates, Inc.
        P.O. Box 34977
        Bethesda, MD 20827

Bankruptcy Case No.: 13-24323

Chapter 11 Petition Date: August 21, 2013

Court: United States Bankruptcy Court
       District of Maryland (Greenbelt)

Debtor's Counsel: James Greenan, Esq.
                  MCNAMEE, HOSEA, ET. AL.
                  6411 Ivy Lane, Suite 200
                  Greenbelt, MD 20770
                  Tel: (301) 441-2420
                  E-mail: jgreenan@mhlawyers.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 20 largest unsecured
creditors, filed together with the petition, is available for free
at http://bankrupt.com/misc/mdb13-24323.pdf

The petition was signed by Haifa A. Shaban, M.D., president.


K-V PHARMACEUTICAL: Says Creditor Rejection Won't Delay Ch.11 Exit
------------------------------------------------------------------
Stephanie Gleason, writing for Daily Bankruptcy Review, reported
that a class of K-V Pharmaceutical Co. creditors has voted against
the company's proposed bankruptcy-exit plan, complicating its
attempt to implement this plan.

                    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.


KEYCORP: DBRS Confirms Preferred Stock at 'BB'
----------------------------------------------
DBRS Inc. has confirmed the ratings of KeyCorp, including its
Issuer & Senior Debt rating of BBB (high) and Short-Term
Instruments rating of R-2 (high).  The trend on all ratings
remains Stable.  The rating action follows a detailed review of
the Company's operating results, financial fundamentals and future
prospects.

KeyCorp's ratings consider its solid community focused commercial
banking franchise, diverse revenue streams, sound and stabilizing
credit quality, strong capital and funding profile, and solid
liquidity position.  Ratings also reflect the Company's primary
challenges, which include generating higher sustained levels of
operating revenues and profitability.  DBRS expects positive
rating pressure if the Company is able to exhibit sustained
improvement in core revenues and profitability, while maintaining
a sound risk profile.

KeyCorp maintains a deeply entrenched, geographically diverse
commercial and retail banking franchise with over 1,000 branches
located in 13 states across the Northeast, Great Lakes, and Rocky
Mountain and Northwest regions.  In addition to its in-footprint
businesses, the Company also has several national businesses,
including equipment finance and institutional/capital markets.
Moreover, KeyCorp maintains a deposit franchise that is defensible
in many of its markets.  Indeed, the Company has a top 5 market
position in 6 of the 13 states where it operates community bank
branches.  On a more granular basis, KeyCorp has the number one
deposit market share in several large metropolitan statistical
areas (MSAs), including Cleveland Ohio, and Albany and
Poughkeepsie, New York.  The Company also has the number two
market share in Syracuse, New York.

As with most banks, KeyCorp's revenues remain pressured by the
difficult operating environment. Indeed, the slowly improving U.S.
economy as well as continued amortization of the Company's exit
loan portfolio continues to pressure average loan growth.
Importantly, the exit portfolio is becoming less a factor,
totaling just $2.6 billion at June 30, 2013, down 24% from the end
of 2Q12.  Moreover, competition for quality loans continues to
pressure net interest margin (NIM), as loan yields remain
moderate.  Although, KeyCorp maintains an asset sensitive balance
sheet, its structure is such that it would benefit more from
rising short term rates.  Finally, driving stability in revenues,
fee income continues to represent better than 40% of total
revenues.

Although still somewhat elevated, DBRS views favorably the
Company's success to date in reducing its operating costs which
should contribute to improved profitability.  Specifically,
KeyCorp has attained approximately $171 million of its targeted
$200 million in annualized expense savings, which it expects to
achieve by YE13.  Despite the progress on expenses, KeyCorp's
calculated efficiency ratio from continuing operations was a high
69% in 2Q13.  Excluding efficiency initiative charges, the
Company's calculated efficiency ratio was 65%.

Credit quality remains sound and continues to stabilize.  Over the
past eighteen months, credit risk related to KeyCorp's continuing
loan portfolio has moderated.  Specifically, non-performing assets
from continuing operations represented a manageable 1.30% of loans
and OREO, at June 30, 2013, down from 1.39%, at December 31, 2012
and 1.73% at December 31, 2011.  Meanwhile, net charge-offs
(continuing operations) decreased to a moderate 0.34% of average
loans for 2Q13, from 0.44% for 4Q12 and 0.86% for 4Q11.  Finally,
KeyCorp's allowance for loan and lease losses remains adequate at
1.65% of period-end loans and 134% of non-performing loans.

Capitalization remains strong and provides an ample buffer for
unexpected losses.  Despite the 2Q13 $112 million of common share
repurchases under Key's $426 million repurchase program, the
Company's risk weighted capital ratios remain sound, including its
Tier 1 common ratio of 11.18%, Tier 1 ratio of 11.93% and Total
ratio of 14.65%.  Furthermore, the Company estimates its Basel III
Tier 1 common equity ratio to be 10.7%, which is well-above the
minimum requirement.  KeyCorp received no objection from the
Federal Reserve to utilize the proceeds from its 3Q13 sale of
Victory Capital Management and its broker-dealer affiliate Victory
Capital Advisor to buy-back additional common stock.  Meanwhile,
funding remains ample, as reflected by the Company's loans
(excluding education loans in securitization trusts) to deposits
(excluding deposits in foreign office) ratio of 84%, at June 30,
2013.

KeyCorp, a diversified financial services corporation
headquartered in Cleveland, Ohio, reported approximately $91
billion in consolidated assets as of June 30, 2013.

  Issuer     Debt Rated               Rating Action      Rating
  ------     ----------               -------------      ------
KeyCorp      Issuer & Senior Debt     Confirmed          BBB(high)

KeyCorp      Subordinated Debt        Confirmed          BBB

KeyCorp      Short-Term Instruments   Confirmed          R-2(high)

KeyCorp      Non-Cumulative Perpetual Confirmed          BB(low)

KeyBank N.A. Deposits & Senior Debt   Confirmed          A (low)

KeyBank N.A. Subordinated Debt        Confirmed          BBB(high)

KeyBank N.A. Short-Term Instruments   Confirmed          R-1(low)

KeyCorp      Trust Preferred          Confirmed          BBB
Capital I     Securities

KeyCorp      Trust Preferred          Confirmed          BBB
Capital II    Securities

KeyCorp      Trust Preferred          Confirmed          BBB
Capital III   Securities


KEYUAN PETROCHEMICALS: Reports $2.9-Mil. Net Income in 1st Quarter
------------------------------------------------------------------
Keyuan Petrochemicals, Inc., reported net income of $2.9 million
on $209.6 million of sales for the three months ended March 31,
2013, compared with net income of $1.6 million on $183.3 million
of sales for the same period last year.

The Company's balance sheet at March 31, 2013, showed
$769.1 million in total assets, $683.0 million in total current
liabilities, $16.5 million of Series B convertible preferred
stock, and stockholders' equity of $69.6 million.

"The Company reported net income and cash flows used in operations
approximately $2.92 million and $67.1 million, respectively for
the three months ended March 31, 2013, and a net loss and cash
flows used in operations of approximately $5.85 million and
$7.1 million, respectively for the year ended Dec. 31, 2012.  At
March 31, 2013, and Dec. 31, 2012, the Company had a working
capital deficit of approximately $162 million and $159 million,
respectively.  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 at http://is.gd/7OVSRo

Located in Ningbo, Zhejiang Province, China, Keyuan
Petrochemicals, Inc., is engaged in the manufacture and sale of
petrochemical and rubber products in the PRC.


KIDSPEACE CORP: Seeks Extension of Exclusive Plan Filing Deadline
-----------------------------------------------------------------
KidsPeace Corporation, et al., ask the U.S. Bankruptcy Court for
the Eastern District of Pennsylvania to extend their exclusive
period within which to file a plan of reorganization through and
including Jan. 16, 2014, and their exclusive period to obtain
acceptances of that plan through and including March 17, 2014.

The Debtors' counsel, Morris S. Bauer, Esq., at Norris, McLaughlin
& Marcus, PA, in Allentown, Pennsylvania, asserts that the
additional time is needed for the Debtors to continue negotiations
with parties-in-interest to formulate a consensual plan of
reorganization.  Mr. Bauer relates that holders of the majority in
principal amount of bonds issued by the Debtors contemplated the
filing of a plan of reorganization within 30 days of the Petition
Date.  As a result of on-going negotiations with the Pension
Benefit Guaranty Corporation and the Official Committee of
Unsecured, the deadline to file a proposed plan was extended until
Sept. 30, 2013, or be in default under the Debtors' prepetition
agreements with the bondholders.  Mr. Bauer says it is possible
that further extensions may be necessary as a result of the
continued discussions.

A hearing on the extension motion is scheduled to be held on
Sept. 3, 2013, at 11:00 a.m.

                      About KidsPeace Corp.

KidsPeace Corp., a provider of behavioral services for children,
filed a petition for Chapter 11 reorganization (Bankr. E.D. Pa.
Case No. 13-14508) on May 21, 2013, in Reading, Pennsylvania.

KidsPeace operates a 96-bed pediatric psychiatric hospital in
Orefield, Pennsylvania.  Assets are $86.7 million, and debt on the
books is $158.6 million, according to a court filing.

The Debtor, which sought bankruptcy protection with eight
affiliates, tapped Norris McLaughlin & Marcus, P.A. as counsel;
EisnerAmper LLP as financial advisor, and Rust Omni as claims and
notice agent.

Assets total $158,587,999 at the end of 2012.  The Debtors owe
approximately $56,206,821 in bond debt, and they have been told
that their pension liability is allegedly about $100,000,000 of
which the Debtors currently reflect $83,049,412 on their books.

KidsPeace sought Chapter 11 (i) as a means to implement a
negotiated restructuring of bond debt currently aggregating
approximately $51,310,000 plus accrued interest to a reduced
amount of approximately $24 million in new 30-year bonds with
interest at 7.5 percent, and (ii) to continue on-going
negotiations with the Pension Benefit Guaranty Corporation  in
hopes of reducing the PBGC asserted obligation of $100+ million to
an amount that the Debtors can reasonably expect to satisfy.

The Debtor disclosed $157,930,467 in assets and $168,768,207 in
liabilities as of the Chapter 11 filing.

Since March 2012, MK has been exploring possible affiliation or
acquisition opportunities; however, no offer of an affiliation or
acquisition has been presented to the Debtors.

Gemino Healthcare Finance, LLC, the prepetition revolving lender,
is represented by James S. Rankin, Jr., Esq., at Parker, Hudson,
Rainer & Dobbs LLP; and Weir & Partners LLP's Walter Weir, Jr.,
Esq.

UMB Bank, N.A., on behalf of bondholders, Performance Food Group
d/b/a AFI, W.B. Mason Co., Inc., Pension Benefit Guaranty
Corporation, and Teresa Laudenslager were appointed to an official
committee of unsecured creditors in the Debtors' cases.  The
Official Committee of Unsecured Creditors is represented by
Fitzpatrcik Lentz & Bubba, P.C., and Lowenstein Sandler LLP as
counsel.  FTI Consulting, Inc. serves as the panel's financial
advisor.


LAFAYETTE YARD HOTEL: Owners Mull Sale or Bankruptcy Filing
-----------------------------------------------------------
David Foster, writing for The Trentonian, reports that in an email
sent Thursday night by the chairwoman of the Lafayette Yard
Community Development Corporation, which currently owns the
Lafayette Yard Hotel & Conference Center, previously called the
Trenton Marriott, the public board said it will discuss the
potential sale of the property, a reorganization and restructuring
plan, and Chapter 11 bankruptcy filing at a special meeting
scheduled for this week.

"We have inquiries," Chairwoman Joyce Kersey said of interested
buyers, according to the report. "It was always our intention to
improve the asset so it could be sold. So we're still working with
that understanding."

The report says Ms. Kersey declined to say how many parties are
interested in purchasing the hotel.


LATTICE INC: Posts $51,000 Net Income in Second Quarter
-------------------------------------------------------
Lattice Incorporated filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $51,160 on $1.91 million of revenue for the three months ended
June 30, 2013, as compared with net income of $99,540 on $1.83
million of revenue for the same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $65,667 on $4.09 million of revenue, as compared with net
income of $128,302 on $3.92 million of revenue for the same period
during the prior year.

The Company's balance sheet at June 30, 2013, showed $5.09 million
in total assets, $6.92 million in total liabilities and a $1.82
million deficit attributable to shareowners of the Company.

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

                        http://is.gd/CgJUMM

                         About Lattice Inc.

Pennsauken, New Jersey-based Lattice Incorporated provides
telecommunications services to correctional facilities and
specialized telecommunication service providers in the United
States.

Lattice Incorporated disclosed a net loss of $570,772 on $10.77
million of revenue for the year ended Dec. 31, 2012, as compared
with a net loss of $6.06 million on $11.44 million of revenue for
the year ended Dec. 31, 2011.

Rosenberg Rich Baker Berman & Company, in Somerset, New Jersey,
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 history of
operating losses, has a working capital deficit and requires
additional working capital to meet its current liabilities.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


LONE PINE RESOURCES: Incurs C$15.8-Mil. Net Loss in Second Quarter
------------------------------------------------------------------
Lone Pine Resources Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of C$15.8 million on C$31.0 million of total
revenues for the three months ended June 30, 2013, compared with a
net loss of C$105.0 million on C$42.4 million of total revenues
for the same period last year.

The Company reported a net loss of C$44.0 million on
C$59.9 million of total revenues for the six months ended June 30,
2013, compared with a net loss of C$114.5 million on
C$86.8 million of total revenues for the corresponding period of
2012.

The Company's balance sheet at June 30, 2013, showed
C$596.8 million in total assets, C$424.4 million in total
liabilities, and stockholders' equity of C$172.4 million.

"Several conditions and events cast doubt about Lone Pine's
ability to continue as a going concern.  Lone Pine has incurred
net losses for the three and six months ended June 30, 2013, and
at June 30, 2013, had an accumulated deficit of C$814.5 million
(Dec. 31, 2012 - C$770.5 million), and requires additional
financing in order to finance its business activities on an
ongoing basis."

A copy of the Form 10-Q is available at http://is.gd/XAuUh8

Calgary, Canada-based Lone Pine Resources Inc. is an independent
oil and gas exploration, development and production company with
operations in Canada.  The Company's reserves, producing
properties and exploration prospects are located in the provinces
of Alberta, British Columbia and Quebec, and in the Northwest
Territories.  The Company is incorporated under the laws of the
State of Delaware.


LOUISIANA-PACIFIC: S&P Revises Outlook to Pos. & Affirms 'BB' CCR
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Louisiana-Pacific Corp. to positive from stable.  At the same
time, S&P affirmed all existing ratings, including its 'BB'
corporate credit rating on the company.  The '3' recovery rating
indicates S&P's expectation for meaningful (50%-70%) recovery in
the event of a default.

S&P revised the outlook to positive because Louisiana-Pacific was
tracking ahead of its 2013 EBITDA forecast through the first six
months of the year.  This outperformance reflects an improvement
in sales volumes, which was expected given the accelerating
housing recovery, plus higher-than-expected sales prices, as
competitive supply remains in check.

"The positive outlook acknowledges stronger demand for many of
Louisiana-Pacific's products as the housing market continues to
recover, as well as favorable prices, particularly for OSB, as
supply remains in check.  If these trends continue, leverage would
drop to about 2x EBITDA, which would warrant a one-notch upgrade.
This scenario also assumes that acquisition activity and expansion
capital expenditures remain manageable," said Standard & Poor's
credit analyst James Fielding.

A downgrade is unlikely over the next 12 months given S&P's
economists' forecast for double-digit growth in new housing
starts, which is the primary driver of demand for Louisiana-
Pacific's products.  However, S&P would revise its outlook back to
stable if the housing recovery stalled, perhaps because of another
recession in the U.S.  S&P assess the risk of another recession in
the next year at 15% to 20%.  S&P would also revise its outlook
back to stable if the company pursued aggressive expansion
initiatives and funded those investments with debt such that
leverage would stay closer to 3x EBITDA.  S&P ascribes a low
probability to this scenario over the next 12 months.


LPATH INC: Incurs $1.4 Million Net Loss in Second Quarter
---------------------------------------------------------
Lpath, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.38 million on $2.01 million of total revenues for the three
months ended June 30, 2013, as compared with a net loss of
$646,649 on $1.32 million of total revenues for the same period
during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $2.63 million on $3.12 million of revenues, as compared
with a net loss of $720 on $4.08 million of total revenues for the
same period last year.

Lpath disclosed a net loss of $2.75 million in 2012, as compared
with a net loss of $3.11 million in 2011.

The Company's balance sheet at June 30, 2013, showed $20.20
million in total assets, $7.54 million in total liabilities and
$12.65 million in total stockholders' equity.

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

                        http://is.gd/RJ4UDS

In a separate filing with the SEC, the Company registered
1,015,715 shares of common stock issuable under the Amended and
Restated 2005 Equity Incentive Plan.  The proposed maximum
aggregate offering price is $5.88 million.  A copy of the Form S-8
prospectus is available at http://is.gd/SELbc9


                          About Lpath, Inc.

San Diego, Calif.-based Lpath, Inc. is a biotechnology company
focused on the discovery and development of lipidomic-based
therapeutics, an emerging field of medical science whereby
bioactive lipids are targeted to treat human diseases.


LYFE COMMUNICATIONS: Incurs $523,000 Net Loss in Second Quarter
---------------------------------------------------------------
Lyfe Communications, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $523,090 on $58,726 of revenues for the three months
ended June 30, 2013, as compared with a net loss of $491,495 on
$159,241 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 $1.24 million on $110,258 of revenues, as compared with a
net loss of $757,465 on $325,547 of revenues for the same period a
year ago.

The Company's balance sheet at June 30, 2013, showed $1.16 million
in total assets, $3.68 million in total liabilities and a $2.52
million total stockholders' deficit.

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

                         http://is.gd/kYdhti

                       About LYFE Communications

South Jordan, Utah-based LYFE Communications, Inc.'s business is
to develop, deploy, and operate next generation media and
communications network based services to single-family, multi-
family, high-rise resort and hospitality properties.

LYFE Communications incurred a net loss of $1.74 million on
$531,531 of revenue for the year ended Dec. 31, 2012, as compared
with a net loss of $3.88 million on $621,830 of revenue for the
year ended Dec. 31, 2011.

HJ & Associates, LLC, 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 suffered losses since inception.  The Company
has not established operations with consistent revenue streams and
has a working capital deficit.  These factors raise substantial
doubt about the Company's ability to continue as a going concern.


LYON WORKSPACE: Tuesday Hearing on Exclusivity Extension Bid
------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
will convene a hearing on Aug. 27, 2013, at 10 a.m., to consider
Lyon Workspace Products, L.L.C., et al.'s second motion for
extension of exclusivity.

The Debtor, by and through their counsel Daniel A. Zazove, Esq.,
at Perkins Coie LLP, requested that the Court extend the exclusive
periods to file a Plan until Oct. 18, and solicit acceptances for
that Plan until Dec. 17, 2013.

Mr. Zazove said the Debtors have sold substantially all of their
assets and are winding-up operations as their responsibilities
under the assets purchase agreement expire.  Upon completion of
the wind-up period, the Debtors will be able to properly analyze
their options and develop a plan of reorganization.

                      About Lyon Workspace

Lyon Workspace Products, L.L.C. and seven affiliates sought
Chapter 11 protection (Bankr. N.D. Ill. Lead Case No. 13-2100) on
Jan. 19, 2012.

Lyon Workspace -- http://www.lyonworkspace.com/-- was a
manufacturer and supplier of locker and storage products.  It had
400 full-time employees, 53% of whom are salaried employees.
Eight percent of the employees are members of the Local Union No.
1636 of the United Steelworkers of America, A.F.L.-C.I.O.  The
Debtor disclosed $41,275,474 in assets and $37,248,967 in
liabilities as of the Chapter 11 filing.

Attorneys at Perkins Coie LLP serve as counsel to the Debtors.
Kurtzman Carson Consultants LLC is the claims and notice agent.


MEADOWBROOK INSURANCE: Obtains Waiver on Defaulted Loan Covenants
-----------------------------------------------------------------
Meadowbrook Insurance Group, Inc. on Aug. 23 disclosed that it has
obtained a waiver from members of the lending group under its bank
credit facility on certain defaulted loan covenants.  The Company
was in default on two of its financial covenants under the
Facility as of June 30, 2013, including its net worth covenant.
The defaults were triggered by an after-tax non-cash goodwill
impairment of $101.5 million the Company recorded in the second
quarter, which directly impacted the Company's book value.

Karen M. Spaun, the Company's Chief Financial Officer, stated: "We
are continuing to work with our bank group to negotiate an
amendment to the credit facility to adjust the financial
covenants.  Absent the non-cash goodwill impairment, we would have
been in compliance with all of our financial covenants."

The waiver is effective until September 20, 2013, and includes
specific authorization for the Company to pay its scheduled common
stock dividend on Monday, August 26, 2013.  The Company is
progressing in its discussions with its lenders to re-set the
covenants to reflect the impact of the goodwill charge.  The
Company expects to execute and announce an amendment to its
Facility in the coming weeks.

                 About Meadowbrook Insurance Group

Based in Southfield, Michigan, Meadowbrook Insurance Group, Inc.
(NYSE:MIG) -- http://www.meadowbrook.com-- operates in the
specialty program management market.  Meadowbrook includes several
agencies, claims and loss prevention facilities, self-insured
management organizations and six property and casualty insurance
underwriting companies.  Meadowbrook has twenty-eight locations in
the United States.  Meadowbrook is a risk management organization,
specializing in specialty risk management solutions for agents,
professional and trade associations, and small to medium-sized
insureds.


MERUS LABS: Incurs C$1-Mil. Net Loss in Fiscal Third Quarter
------------------------------------------------------------
Merus Labs International Inc. reported a net loss of C$1.0 million
on C$7.3 million of revenues for the three months ended June 30,
2013, compared with net income of C$674,271 on C$2.9 million of
revenues for the three months ended June 30, 2012.

The Company reported a net loss of C$3.0 million on C$20.1 million
of revenues for the nine months ended June 30, 2013, compared with
net income of C$16,143 on C$5.4 million for the nine months ended
June 30, 2012.

At June 30, 2013, the Company's balance sheet showed
C$94.6 million in total assets, C$53.4 million in total
liabilities, and equity of C$41.2 million.

The Company said: "For the nine months ended June 30, 2013, the
Company had positive cash flow from operations of C$8,190,672, but
a net loss of C$3,048,973 and negative net current assets of
C$19,954,197.  In addition, one of the Company's products is
contending with the recent emergence of a generic competitor.
These uncertainties cast substantial doubt upon the Company's
ability to continue as a going concern."

A copy of the Third Quarter Report Fiscal 2013 for the three
months ended June 30, 2013, is available at http://is.gd/OXPRVc

                          About Merus Labs

Toronto, Canada-based Merus Labs International Inc. (TSX: MSL,
NASDAQ: MSLI) is a specialty pharmaceutical company engaged in the
acquisition and licensing of pharmaceutical products.

                           *     *     *

As reported in the TCR on Jan. 7, 2013, Deloitte & Touche LLP, in
Toronto, Canada, expressed substantial doubt Merus Labs
International Inc.'s ability to continue as a going concern in its
report on the consolidated financial statements of the Company for
the year ended Sept. 30, 2012.  The independent auditors noted
that the Company has suffered recurring losses from operations.


MMRGLOBAL INC: Incurs $1.1 Million Net Loss in Second Quarter
-------------------------------------------------------------
MMRGlobal, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1.14 million on $300,549 of total revenues for the three
months ended June 30, 2013, as compared with a net loss of $1.37
million on $198,779 of total revenues for the same period during
the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $2.65 million on $422,577 of total revenues, as compared
with a net loss of $2.95 million on $371,577 of total revenues for
the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $2.61 million
in total assets, $9.06 million in total liabilities and a $6.44
million total stockholders' deficit.

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

                         http://is.gd/oltgcG

                           About MMRGlobal

Los Angeles, Calif.-based MMR Global, Inc. (OTC BB: MMRF)
-- http://www.mmrglobal.com/-- through its wholly-owned operating
subsidiary, MyMedicalRecords, Inc., provides secure and easy-to-
use online Personal Health Records (PHRs) and electronic safe
deposit box storage solutions, serving consumers, healthcare
professionals, employers, insurance companies, financial
institutions, and professional organizations and affinity groups.

MMRGlobal incurred a net loss of $5.90 million in 2012, as
compared with a net loss of $8.88 million in 2011.

Rose, Snyder & Jacobs LLP, in Encino, California, 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 significant operating losses and
negative cash flows from operations during the years ended
Dec. 31, 2012, and 2011, that raise substantial doubt about the
Company's ability to continue as a going concern.


MONITOR COMPANY: After Deloitte Sale, Remnants Convert to Ch. 7
---------------------------------------------------------------
Law360 reported that the bankruptcy of Monitor Co. Group LP has
been converted to Chapter 7, as attorneys sweep up the remnants of
the once powerful consulting firm following its $116.2 million
sale to rival Deloitte Consulting LLP, according to a court
filing.

The report related that Monitor, joined by the unsecured creditors
committee and secured lender Caltius Partners IV LP, had told a
Delaware bankruptcy court that since there is no realistic
prospect of the company's rehabilitation in light of the Deloitte
sale, a Chapter 7 conversion is the best path forward.

                        About Monitor Company

Monitor Company Group LP -- http://www.monitor.com/-- was a
global consulting firm with 1,200 personnel in offices across 17
countries worldwide.  Founded in 1983 by six entrepreneurs, and
headquartered in Cambridge, Massachusetts, Monitor advised for-
profit, sovereign, and non-profit clients on growing their
businesses and economies and furthering their charitable purposes.

Monitor and several affiliates filed for Chapter 11 bankruptcy
(Bankr. D. Del. Case Nos. 12-13042 to 12-13062) on Nov. 7, 2012.
Judge Hon. Christopher S. Sontchi presides over the case.  Pepper
Hamilton LLP and Ropes & Gray LLP served as the Debtors' counsel.
The financial advisor was Carl Marks Advisory Group LLC.  Epiq
Bankruptcy Solutions, LLC served as claims and noticing agent.

The petitions were signed by Bansi Nagji, president.

Cole, Schotz, Meisel, Forman & Leonard, P.A., represented the
Committee of Unsecured Creditors as counsel.

Bank of America was represented in the case by Jinsoo Kim, Esq.,
and Timothy Graulich, Esq., at Davis Polk & Wardwell LLP; and Mark
D. Collins, Esq., at Richards Layton & Finger PA.

J. Gregory Milmoe, Esq., and Shana A. Elberg, Esq., at Skadden
Arps Slate Meagher & Flom LLP in New York; and Mark Chehi, Esq.,
and Christopher DiVirgilio, Esq., at Skadden Arps in Delaware,
represented Deloitte Consulting LLP.

Caltius Partners IV LP; Caltius Partners Executive IV, LP; and CP
IV Pass-Through (Monitor) LP were represented by John Sieger,
Esq., at Katten Muchin Rosenman LLP.

Monitor's consolidated unaudited financial statements as of
June 30, 2012, which include the assets and liabilities of non-
Debtor foreign subsidiaries, reflected total assets of roughly
$202 million (including $93 million in current assets) and total
liabilities of roughly $200 million.

Monitor filed for bankruptcy to sell substantially all of their
businesses and assets to Deloitte Consulting LLP, a Delaware
registered limited liability partnership and DCSH Limited, a UK
company limited by shares, subject to higher or otherwise better
offers.  The base purchase price set forth in the Stalking Horse
Agreement is $116.2 million, plus (i) assumption of certain
liabilities and (ii) certain cure costs for assumed contracts.
The Stalking Horse Agreement provides for the Stalking Horse
Bidder to receive a combined breakup fee and expense reimbursement
of $4 million.

The Debtors held an auction on Nov. 28, 2012, at the offices of
the Sellers' counsel, Ropes & Gray LLP in New York.  In mid-
January 2013, Judge Sontchi allowed the Debtors to sell its assets
to Deloitte Consulting for $116.2 million.

In July 2013, Monitor Co. and the official creditors' committee
decided that the liquidation can be most efficiently concluded now
that the business was sold by converting the Chapter 11
reorganization to a liquidation in Chapter 7.


MONTREAL MAINE: Legal Fees a Concern for Judge in Bankruptcy Case
-----------------------------------------------------------------
J. Craig Anderson, writing for Kennebec Journal, reported that in
a courtroom packed with dozens of lawyers on Aug. 22, the judge
presiding over the Montreal, Maine & Atlantic Railway's bankruptcy
proceedings expressed concern that attorneys' fees will suck the
company dry of funds before victims of last month's deadly train
derailment in Quebec can be compensated.

"What's concerning me is a run-up of administrative expenses that
would make operation of the railroad impossible," said U.S.
Bankruptcy Judge Louis Kornreich, the report related.  "There's
not a lot of extra revenue."

If legal fees drain the company of its cash, nothing will be left
to compensate victims of the accident July 6 in which an unmanned
train loaded with crude oil rolled downhill into the town of Lac-
Megantic, Quebec, derailed and exploded, killing 47 people and
destroying 40 buildings in the heart of town, the report related.

Several groups of lawyers, representing various interests in the
bankruptcy, attended the Aug. 22 hearing on motions to keep the
railroad running while its newly appointed trustee assesses its
financial situation, the report added.

Interested parties include creditors such as Wheeling & Lake Erie
Railway Co.; New Brunswick Southern Railway Co. Ltd.; state and
federal transportation agencies; unions; banks; the Montreal,
Maine & Atlantic; its affiliated company, Rail World Inc.; and its
court-appointed trustee, Robert Keach, 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: Brookfield Extends Tender Offer to August 30
--------------------------------------------------------
Brookfield Office Properties Inc. said that DTLA Fund Holding Co.
and Brookfield DTLA Fund Properties Holding Inc., both direct
wholly owned subsidiaries of the DTLA Fund, are extending their
previously announced cash tender offer to purchase all outstanding
shares of preferred stock of MPG Office Trust, Inc., until 12:00
midnight, New York City time, at the end of Friday, Aug. 30, 2013.
BPO previously announced its intention to acquire MPG pursuant to
a merger agreement, dated as of April 24, 2013, by and among
Brookfield DTLA Holdings LLC, a newly formed fund controlled by
BPO (the DTLA Fund), Brookfield DTLA Fund Office Trust Investor
Inc., Brookfield DTLA Fund Office Trust Inc., Brookfield DTLA Fund
Properties LLC, MPG and MPG Office, L.P.  Upon the closing of the
tender offer, preferred stockholders of MPG will receive $25.00 in
cash for each share of MPG preferred stock validly tendered and
not validly withdrawn in the offer, without interest and less any
required withholding taxes.  Shares of MPG preferred stock that
are tendered and accepted for payment in the tender offer will not
receive any accrued and unpaid dividends on those shares.

The tender offer had been previously set to expire at 12:00
midnight, New York City time, at the end of Friday, Aug. 23, 2013.
Except for the extension of the expiration date, all other terms
and conditions of the tender offer remain unchanged.

The Depositary and Paying Agent for the tender offer is American
Stock Transfer & Trust Company, LLC, 6201 15th Avenue, Brooklyn,
New York 11219.  The Information Agent for the tender offer is
MacKenzie Partners, Inc., 105 Madison Avenue, New York, New York
10016.  The tender offer materials may be obtained at no charge by
directing a request by mail to MacKenzie Partners, Inc. or by
calling (800) 322-2885.  Fried, Frank, Harris, Shriver & Jacobson
LLP is acting as legal advisor to BPO.

Based on information received from the Depositary, as of Aug. 22,
2013, approximately 83,224 shares of MPG preferred stock had been
tendered and not withdrawn from the offer.  Stockholders who have
already tendered their shares do not have to re-tender their
shares or take any other action as a result of the extension of
the expiration date.

                       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."


NATIONAL ENVELOPE: Brings in $65MM With 3-Way Sale
--------------------------------------------------
Law360 reported that private equity-owned NE Opco Inc., which does
business as National Envelope, struck a $65 million sales trifecta
Wednesday as the bankrupt envelope maker announced a series of
deals to parcel out its assets among three separate buyers.

The report related that the proposed transactions would see
Connecticut-based printer Cenveo Inc. acquire National Envelope's
operating assets for $25 million, Hilco Receivables LLC pick up
accounts receivable for $25 million and Southern Paper LLC take on
its inventory for $15 million, according to a sale motion filed in
Delaware bankruptcy court.

                    About National Envelope

National Envelope is the largest privately-held manufacturer of
envelopes in North America.  Headquartered in Frisco, Texas,
National Envelope has eight plants and 15 percent of the envelope
market.  Revenue of $427 million in 2012 resulted in a $60.1
million net loss, continuing an unbroken string of losses since
2007.

NE OPCO, Inc., doing business as National Envelope, along with
affiliate NEV Credit Holdings, Inc., filed petitions seeking
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del.
Lead Case No. 13-11483) on June 10, 2013.

The company disclosed liabilities including $148.4 million in
secured debt, with $37.5 million owing on a revolving credit and
$15.6 million on a secured term loan.  There is a $55.7 million
second-lien debt 82 percent held by a Gores Group LLC affiliate.

National Envelope, then known as NEC Holdings Corp., first sought
Chapter 11 protection (Bankr. D. Del. Lead Case No. 10-11890) on
June 10, 2010.  The business was bought by Gores Group LLC for
$208 million in a bankruptcy sale.

National Envelope, through NE OPCO, has returned to bankruptcy to
pursue a plan of reorganization or sell the assets as a going
concern via 11 U.S.C. Sec. 363.  The Debtor plans to facilitate a
sale of the business with publicly traded competitor Cenveo Inc.

In the new Chapter 11 case, the company has tapped the law firm
Richards, Layton & Finger as counsel, PricewaterhouseCoopers LLP
as financial adviser, and Epiq Bankruptcy Solutions as claims and
notice agent.

The Gores Group is represented by Weil, Gotshal and Manges LLP and
Lowenstein Landler LLP.  Salus Capital Partners, the DIP agent, is
represented by Choate, Hall & Stewart LLP and Morris Nichols Arsht
& Tunnell LLP.   Wells Fargo Capital Finance, LLC, the prepetition
senior agent, is represented by Goldberg Kohn Ltd and DLA Piper.

The Official Committee of Unsecured Creditors is represented by
Pachulski Stang Ziehl & Jones LLP's Laura Davis Jones, Esq.,
Bradford J. Sandier, Esq., Robert J. Feinstein, Esq., and Peter J.
Keane, Esq.  Guggenheim Securities, LLC, serves as its investment
banker and financial advisor.


NET MEDICAL: Reports $1,000 Net Income in Second Quarter
--------------------------------------------------------
Net Medical Xpress Solutions, Inc., filed its quarterly report on
Form 10-Q, reporting net income of $1,000 on $1.2 million of gross
revenues for the three months ended June 30, 2013, compared with a
net loss of $12,000 on $960,000 of gross revenues for the same
period last year.

The Company reported net income of $54,000 on $2.4 million of
gross revenues for the six months ended June 30, 2013, compared
with a net loss of $35,000 on $1.9 million of gross revenues for
the corresponding period of 2012.

The Company's balance sheet at June 30, 2013, showed $1.1 million
in total assets, $877,000 in total liabilities, and stockholders'
equity of $270,000.

"The Company has incurred cumulative net losses of approximately
$15,287,000 since its inception and requires capital for its
contemplated operational and marketing activities to take place.
The Company's ability to raise additional capital through the
future issuances of the common stock is unknown.  The obtainment
of additional financing, the successful development of the
Company's contemplated plan of operations, and its transition,
ultimately, to the attainment of profitable operations are
necessary for the Company to continue operations.  The ability to
successfully resolve 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 at http://is.gd/R7ULrW

Albuquerque, New Mexico-based Net Medical Xpress Solutions, Inc.,
ervices, Inc., develops and markets proprietary Internet
technology-based software.


NETWORK CN: Incurs $749,000 Net Loss in Second Quarter
------------------------------------------------------
Network CN Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $749,294 on $150,318 of advertising services revenues for the
three months ended June 30, 2013, as compared with net income of
$1.15 million on $536,208 of advertising services revenues for the
same period during the prior year.

For the six months ended June 30, 2013, the Company reported a net
loss of $1.77 million on $556,955 of advertising services
revenues, as compared with net income of $534,947 on $942,983 of
advertising services revenues for the same period a year ago.

The Company's balance sheet at June 30, 2013, showed $1.09 million
in total assets, $6.70 million in total liabilities and a $5.61
million total stockholders' deficit.

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

                        http://is.gd/svSEJh

                         About Network CN

Causeway Bay, Hong Kong-based Network CN Inc. provides out-of-home
advertising in China, primarily serving the needs of branded
corporate customers.

In the auditors' report on the consolidated financial statemetns
for the period ended Dec. 31, 2012, Union Power Hong Kong CPA
Limited, in Hong Kong SAR, expressed substantial doubt about
Network CN's ability to continue as a going concern.  The
independent auditors noted that the Company has incurred net
losses of $1.2 million, $2.1 million and $2.6 million for the
years ended Dec. 31, 2012, 2011, and 2010, respectively.

The Company reported a net loss of $1.2 million on $1.8 million of
revenues in 2012, compared with a net loss of $2.1 million on
$1.8 million of revenues in 2011.


OHANA GROUP: Plan Outline Hearing Continued Until Sept. 27
----------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Washington
continued until Sept. 27, 2013, at 9:30 a.m., the hearing to
consider the adequacy of information in the Disclosure Statement
explaining Ohana Group LLC's Plan of Reorganization.

The hearing was originally set for Aug. 30.

According to the Disclosure Statement, the Debtor will continue to
operate the Fremont Village Square condominium development Project
in the ordinary course of business.  Funding for payments to
creditors under the Plan will come from Cash on hand as of the
Effective Date, and operating revenues.  The Debtor or its
designee will act as disbursing agent for payments and
distributions due under the Plan.

The secured claim of Wells Fargo, N.A., as trustee for the
registered Holders of Credit Suisse First Boston Mortgage
Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2007-C5 (the "Lender"), which filed a proof of claim of
$13,434,336 on Jan. 25, 2013, will be satisfied through equal
monthly principal and interest payments based upon a 30-year
amortization schedule through the month prior to the Class 1
Maturity Date, with all amounts due and payable on the Class
Maturity date.

Holders of general unsecured claims will be paid in full in 12
equal monthly payments.

Members will retain their interests following Confirmation but
will receive no distributions on account of such interests (i) if
there exists a default under payments owing to any Class, or (ii)
if the Debtor will fail to make any payment due on the Effective
Date.

A copy of the Disclosure Statement is available at:

           http://bankrupt.com/misc/ohanagroup.doc115.pdf

                      About Ohana Group LLC

Ohana Group LLC, is a Washing limited liability company formed in
2006 for the purpose of managing and operating a mixed-used real
property development located at 3601 Fremont Avenue N. in Seattle,
Washington.  The Company filed for Chapter 11 bankruptcy (Bankr.
W.D. Wash. Case No. 12-21904) on Nov. 30, 2012.  The Debtor's
members are Patricia Cawdrey and Daniel Cawdrey, Jr.  Judge Marc
Barreca oversees the case.  James I. Day, Esq., at Bush Strout &
Kornfeld LLP, in Seattle, serves as bankruptcy counsel.  The Law
Offices of Brian H. Krikorian represents the Debtor as special
counsel in connection with the litigation against one of the
Debtor's former tenants.  In its petition, the Debtor scheduled
$16,000,000 in assets and $11,696,131 in liabilities.


ORAGENICS INC: To Sell $30 Million Worth of Securities
------------------------------------------------------
Oragenics, Inc., filed with the U.S. Securities and Exchange
Commission a Form S-3 registration statement relating to the sale
of up to $30,000,000 of any combination of common stock, warrants
and units.

The Company currently intends to use the net proceeds from the
sale of the securities for ongoing clinical development of
lantibiotics, probiotics sales and marketing and for general
corporate purposes, including research and development activities
for the Company's other product candidates and any future product
candidates that the Company may develop or acquire, as well as for
general and administrative costs.

The Company's common stock is listed on the NYSE MKT under the
symbol "OGEN."  The last reported sale price of the Company's
common stock on Aug. 9, 2013, was $3.30 per share.

A copy of the Form S-3 prospectus is available for free at:

                        http://is.gd/mkIFnE

                        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.

Oragenics incurred a net loss of $13.09 million in 2012, as
compared with a net loss of $7.67 million in 2011.  The Company's
balance sheet at March 31, 2013, showed $8.82 million in total
assets, $1.17 million in total liabilities, all current, and $7.64
million in total shareholders' equity.


OSAGE EXPLORATION: Posts $30,000 Net Income in Second Quarter
-------------------------------------------------------------
Osage Exploration and Development, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing net income of $30,702 on $2.39 million of total
operating revenues for the three months ended June 30, 2013, as
compared with a net loss of $613,484 on $1.35 million of total
operating revenues for the same period a year ago.

For the six months ended June 30, 2013, the Company reported a net
loss of $42,723 on $4.81 million of total operating revenues, as
compared with a net loss of $157,458 on $2.71 million of total
operating revenues for the same period during the prior year.

As of June 30, 2013, the Company had $27.11 million in total
assets, $18.84 million in total liabilities and $8.26 million in
total stockholders' equity.

"The Company's operating plans require additional funds which may
take the form of debt or equity financings.  The Company's ability
to continue as a going concern is in substantial doubt and is
dependent upon achieving profitable operations and obtaining
additional financing.  There is no assurance additional funds will
be available on acceptable terms or at all.  In the event we are
unable to continue as a going concern, we may elect or be required
to seek protection from our creditors by filing a voluntary
petition in bankruptcy or may be subject to an involuntary
petition in bankruptcy.  To date, management has not considered
this alternative, nor does management view it as a likely
occurrence," the Company said in the quarterly report.

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

                         http://is.gd/13JCQN

                       About Osage Exploration

Based in San Diego, California with production offices in Oklahoma
City, Oklahoma, and executive offices in Bogota, Colombia, Osage
Exploration and Development, Inc. (OTC BB: OEDV) --
http://www.osageexploration.com/-- is an independent exploration
and production company with interests in oil and gas wells and
prospects in the US and Colombia.

Goldman, Kurland and Mohidin LLP, in Encino, California, 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 and has an accumulated deficit as of Dec. 31, 2011.
These conditions raise substantial doubt about the Company's
ability to continue as a going concern.


OVERSEAS SHIPHOLDING: Blasts Lenders' Bid to Limit Exclusivity
--------------------------------------------------------------
Law360 reported that bankrupt Overseas Shipholding Group Inc.
slammed an objection seeking to truncate its requested extension
of the Chapter 11 exclusivity period, calling opposition from its
bank lenders a "self-serving" attempt to gain leverage over other
creditors.

According to the report, the Oil tanker giant entered bankruptcy
protection in November and is seeking to extend the period during
which it is the only entity allowed to file a Chapter 11 plan.
U.S. Bank NA, agent for a $1.5 billion credit agreement, filed a
limited objection saying the Delaware court should limit the
exclusivity.  U.S. Bank argued that a four-month delay will only
heap on more costs.  U.S. Bank also contended that all of the
major roadblocks for the New York-based oil tanker giant to
negotiate with its creditors have been removed since filing for
bankruptcy protection.

                   About Overseas Shipholding

Overseas Shipholding Group, Inc., headquartered in New York, is
one of the largest publicly traded tanker companies in the world,
engaged primarily in the ocean transportation of crude oil and
petroleum products.  OSG owns or operates 111 vessels that
transport oil and petroleum products throughout the world.

Overseas Shipholding Group and 180 affiliates filed voluntary
Chapter 11 petitions (Bankr. D. Del. Lead Case No. 12-20000) on
Nov. 14, 2012, disclosing $4.15 billion in assets and $2.67
billion in liabilities.  Greylock Partners LLC Chief Executive
John Ray serves as chief reorganization officer.  James L.
Bromley, Esq., and Luke A. Barefoot, Esq., at Cleary Gottlieb
Steen & Hamilton LLP serve as OSG's Chapter 11 counsel.  Derek C.
Abbott, Esq., Daniel B. Butz, Esq., and William M. Alleman, Jr.,
at Morris, Nichols, Arsht & Tunnell LLP, serve as local counsel.
Chilmark Partners LLC serves as financial adviser.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

The Export-Import Bank of China, owed $312 million used for the
construction of five tankers, is represented by Louis R. Strubeck,
Jr., Esq., and Kristian W. Gluck, Esq., at Fulbright & Jaworski
LLP in Dallas; David L. Barrack, Esq., and Beret Flom, Esq., at
Fulbright & Jaworski in New York; and John Knight, Esq., and
Christopher Samis, Esq., at Richards Layton & Finger PA.  Chilmark
Partners, LLC serves as financial and restructuring advisor.

Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton LLP, serve
as co-counsel to the official committee of unsecured creditors.
FTI Consulting, Inc., is the financial advisor and Houlihan Lokey
Capital, Inc., is the investment banker.


PANACHE BEVERAGE: Has $7.5-Mil. Accumulated Deficit at June 30
--------------------------------------------------------------
Panache Beverage, Inc. filed its quarterly report on Form 10-Q,
reporting a net loss of $935,888 on $1.4 million of revenues for
the three months ended June 30, 2013, compared with a net loss of
$760,038 on $671,041 of revenues for the same period last year.

The Company reported a net loss of $1.7 million on $2.8 million of
revenues for the six months ended June 30, 2013, compared with a
net loss of $1.6 million on $1.0 million for the corresponding
period of 2012.

The Company' balance sheet at June 30, 2013, showed $6.4 million
in total assets, $10.4 million in total liabilities, and a
stockholders' deficit of $4.0 million.

As of June 30, 2013, the Company had an accumulated deficit of
$7.5 million.

"Management has taken certain actions and continues to implement
changes designed to improve the Company's financial results and
operating cash flows.  The actions involve certain cost-saving
initiatives and growing strategies, including (a) reductions in
operating expenses; and (b) expansion of the business model into
new markets.  Management believes that these actions will enable
the Company to improve future profitability and cash flow in its
continuing operations through June 30, 2014. As a result, the
financial statements do not include any adjustments to reflect the
possible future effects on the recoverability and classification
of assets or the amounts and classification of liabilities that
may result from the outcome of the Company's ability to continue
as a going concern."

A copy of the Form 10-Q is available at http://is.gd/Vek3Tt

New York-based Panache Beverage, Inc., specializes in the
strategic development and aggressive early growth of spirits
brands establishing its assets as viable and attractive
acquisition candidates for the major global spirits companies.
Panache builds its brands as individual acquisition candidates
while continuing to develop its pipeline of new brands into the
Panache portfolio.

                           *     *     *

Silberstein Ungar, PLLC, in Bingham Farms, Michigan, expressed
substantial doubt about the Company's ability to continue as a
going concern, following its audit of the Company's financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that  has negative working capital, and has
incurred losses from operations.

The Company reported a net loss of $3.3 million on $3.3 million of
revenues in 2012, compared with a net loss of $1.5 million on
$1.9 million of revenues in 2011.

The Company's balance sheet at Dec. 31, 2012, showed $2.9 million
in total assets, $5.7 million in total liabilities, and a
stockholders' deficit of $2.8 million.

A copy of the Company's 2012 annual report on Form 10-K is
available at http://is.gd/55z8hx


PEABODY ENERGY: Fitch Downgrades Issuer Default Rating to 'BB'
--------------------------------------------------------------
Fitch Ratings has downgraded Peabody Energy Corporation's
(Peabody; NYSE: BTU) Issuer Default Rating (IDR) to 'BB' from
'BB+'.

The Rating Outlook has been revised to Stable from Negative.

Key Rating Drivers:

The downgrade results from Fitch's expectations for leverage above
4x for a prolonged period in advance of a full recovery of the
seaborne coal markets.

Peabody's credit ratings reflect large, well-diversified
operations, good control of low-cost production, strong liquidity
and high financial leverage following the acquisition of Macarthur
Coal Limited for $4.8 billion in an all-cash transaction in 2011.

Peabody is the largest private sector coal company, globally, with
28 mining operations producing primarily low-sulfur thermal coal
from the Powder River Basin (PRB - 2012, 139 million tons), high
heat thermal coal from the Illinois Basin (IB - 2012, 27 million
tons), and thermal and metallurgical coal in Australia primarily
for the seaborne markets (2012, 33 million tons). Proven and
probable reserves are 9 billion tons.

Earnings are supported by top line visibility in the U.S.;
virtually all of 2013 shipments and 70%-80% of 2014 expected
shipments are priced. Domestic segment adjusted EBITDA was $1.3
billion in 2012 and $535 million in first half of 2013. In 2012,
domestic volumes dropped 5% to 193 million tons given industry-
wide lower coal burns given extraordinarily cheap natural gas. The
company's U.S. operations account for roughly 20% of U.S. coal
production.

Earnings are leveraged to metallurgical coal prices. The
Australian segment comprises seaborne coking, PCI and steam coal
sales. For the first half of 2013, the Australian adjusted EBITDA
was $212.9 million on 16.9 million tons sold at an average
realization of $87.84/ton compared with $536.3 million on 14.8
million tons sold at average realizations of $117.59/ton for the
first half of 2012. Fitch's calculation of consolidated operating
EBITDA for the half ended June 30, 2013 was $480 million compared
with $952 million in the first half of 2012. Strong supply in the
Asia Pacific region and slower demand growth are currently
weighing on prices.

There are indications that the domestic steam coal market has
bottomed with improving coal burn, declining inventories and
firmer contracting. Fitch expects softness in the seaborne thermal
market through 2013 given ramp-up of new capacity. Metallurgical
coal prices are likely to remain at depressed levels to flush
excess supply out of the market; this could stretch into 2014.

Liquidity is strong, with cash on hand of $518 million as of June
30, 2013 (of which approximately $350 million was in the U.S.) and
availability under the company's $1.5 billion revolver of $1.4
billion after utilization for $112 million in letters of credit.
Covenants under the bank facilities include an interest coverage
minimum of 2.5 times (x) and a leverage maximum of 5.5x for 2013.
Fitch anticipates that Peabody will operate within its covenants.

Total debt with equity credit of $6 billion compares to latest 12
months (LTM) June 30, 2013 operating EBITDA of $1.3 billion at
4.5x. Free cash generation has been positive despite lower than
anticipated earnings on capital and cost discipline. Peabody has
substantial legacy liabilities and adjusted leverage is about
5.1x.

Peabody has prepaid the 2013 and 2014 maturities of its term
loans. Scheduled maturities of debt over the next five years are
estimated at $352 million in 2015, $1.5 billion in 2016, and $9
million in 2017. Fitch expects Peabody to continue to focus on
debt repayment while leverage is above 3x but thereafter to
continue to invest in Australia and Asia to the extent of its
excess free cash flow.

Capital expenditure guidance for 2013 is between $350 million and
$450 million. Fitch expects operating EBITDA of at least $1
billion and negative free cash flow of about $100 million in 2013.

The Stable Outlook reflects Fitch's view that the coal markets are
at or near the bottom of the cycle and should show slow recovery.
Fitch expects leverage will be above 4.5x through 2014 dropping
below 4x by the end of 2015.

Ratings Sensitivities

Negative: Future developments that may, individually or
collectively, lead to a negative rating action include:

-- Cash operating losses in Australia;
-- Expectations of negative free cash flow in 2014;
-- Failure to reduce debt.

Positive: Future developments that may lead to a positive rating
action are not anticipated over the next 12 months but may
include:

-- Leverage sustainably below 3.5x.

Fitch has downgraded Peabody's ratings as follows:

-- IDR to 'BB' from 'BB+';
-- Senior unsecured notes to 'BB' from 'BB+';
-- Senior unsecured revolving credit and term loans to 'BB'
   from 'BB+';
-- Convertible junior subordinated debentures due 2066 to
   'B+' from 'BB-'.


PEER REVIEW: Delays Form 10-Q for Second Quarter
------------------------------------------------
Peer Review Mediation and Arbitration, Inc., was not able to
complete its financial statements for the period ended June 30,
2013.  As a result, the Company was not able to file its quarterly
report in a timely manner.

                         About Peer Review

Deerfield Beach, Fla.-based Peer Review Mediation and Arbitration,
Inc., was incorporated in the State of Florida on April 16, 2001.
The Company provides peer review services and expertise to law
firms, medical practitioners, insurance companies, hospitals and
other organizations in regard to personal injury, professional
liability and quality review.

The Company's balance sheet at Sept. 30, 2012, showed $1.8 million
in total assets, $5.9 million in total liabilities, and a
stockholders' deficit of $4.1 million.

As reported in the TCR on Aug. 6, 2012, Peter Messineo, CPA, in
Palm Harbor, Fla., expressed substantial doubt about Peer Review's
ability to continue as a going concern, following the Company's
results for the fiscal year ended Dec. 31, 2011.  Mr. Messineo
noted that the Company has recurring losses from operations, a
working capital deficit, negative cash flows from operations and a
stockholders' deficit.


PENSACOLA BEACH: American Fidelity Wants Case Dismissal
-------------------------------------------------------
American Fidelity Life Insurance Company asks the U.S. Bankruptcy
Court for the Northern District of Florida to dismiss the Chapter
11 case of Pensacola Beach, LLC, and prohibit the Debtor from
filing for protection under the Bankruptcy Code for two years.

American Fidelity notes that:

   1) the Debtor, a single asset entity that owns the Marriott
      Springhill Suites located on Pensacola Beach, commenced
      the proceeding to avoid a foreclosure sale scheduled for
      May 3, 2013.  The foreclosure sale had been ordered in
      the litigation between American Fidelity, the Debtor and
      David Brannen.

   2) David Brannen is the Debtor's sole representative that
      has signed verifications and schedules as the managing
      member in the bankruptcy case, and he was the designated
      representative in the Debtor's Rule 2004 Examination
      conducted on June 10, 2013.

American Fidelity asserts that case dismissal is appropriate
because, among other things:

   1. the case was filed in bad faith;

   2. there is uncertainty of whether this bankruptcy is
      authorized; and

   3. there is a substantial and continued loss and diminution
      of the estate.

                    About Pensacola Beach, LLC

Gulf Breeze, Florida-based Pensacola Beach, LLC, aka Springhill
Suites by Marriott Pns Beach, filed for Chapter 11 bankruptcy
(Bankr. N.D. Fla. Case No. 13-30569) on May 2, 2013.  Judge
William S. Shulman oversees the case.  Sherry F. Chancellor, Esq.,
at The Law Office of Sherry F. Chancellor, serves as the Debtor's
counsel.  The Debtor also tapped Mark J. Proctor and Travis P.
Lepicier and the law firm of Levin, Papantonio, Thomas, Mitchell,
Rafferty and Proctor, P.A., as attorneys in regard to the British
Petroleum/Deep Water Horizon Oil Spill claims.

In its petition, Pensacola Beach estimated $10 million to
$50 million in both assets and debts.  The petition was signed by
David Brannen, managing member.

In its schedules, the Debtor disclosed $22,523,252 in assets and
$16,655,337 in liabilities.

The U.S. Trustee said that, until further notice, it will not
appoint a committee of creditors in the Debtor's case.


PENSACOLA BEACH: HighPoint Hospitality May Continue as Manager
--------------------------------------------------------------
The Hon. William S. Shulman of the U.S. Bankruptcy Court for the
Northern District of Florida authorized Pensacola Beach, LLC, to
employ Highpointe Hospitality, Inc., doing business as Highpointe
Hotel Corporation Management Company, to continue the daily
management of the Marriott Springhill Suites, located on Pensacola
Beach.

The Debtor has agreed to pay Highpointe a basic management fee of
3 percent of the total net revenues, plus state sales taxes.
Highpointe will be entitled to deduct its management fee from the
general account.

As reported in the Troubled Company Reporter on July 9, 2013,
Highpointe will continue the daily management of the hotel,
subject to the terms of the Management Agreement and Stipulated
Order Regarding Management of Hotel and Dismissal of Highpointe
Hospitality, Inc. as Defendant, dated March 25, 2010, entered in
the Circuit Court In and For Escambia County, Florida, Case No.
2010-CA-810-J.  Highpointe's duties will include:

   a. Recruit, train and hire and fire employees;
   b. Handle promotions, publicity, sales, and marketing;
   c. Maintain licenses and permits;
   d. Purchase inventory and and supplies;
   e. Coordinate entertainment, food & beverage services and
      amusement;
   f. Establish reservation services and policies;
   g. Receive, hold and distribute funds;
   h. Oversee necessary maintenance, repair, and cleaning
   i. Payment of employees;
   j. Obtain and maintain insurance; and
   k. Handle all other matters that the manager deems consistent
      to maintain good order and management.

To the best of the Debtor's knowledge, Highpointe attests it is
disinterested as required by Sec. 327 of the Bankruptcy Code.

A copy of the Management Agreement is available at:

         http://bankrupt.com/misc/pensacola.doc106

                    About Pensacola Beach, LLC

Gulf Breeze, Florida-based Pensacola Beach, LLC, aka Springhill
Suites by Marriott Pns Beach, filed for Chapter 11 bankruptcy
(Bankr. N.D. Fla. Case No. 13-30569) on May 2, 2013.  Judge
William S. Shulman oversees the case.  Sherry F. Chancellor, Esq.,
at The Law Office of Sherry F. Chancellor, serves as the Debtor's
counsel.  The Debtor also tapped Mark J. Proctor and Travis P.
Lepicier and the law firm of Levin, Papantonio, Thomas, Mitchell,
Rafferty and Proctor, P.A., as attorneys in regard to the British
Petroleum/Deep Water Horizon Oil Spill claims.

In its petition, Pensacola Beach estimated $10 million to
$50 million in both assets and debts.  The petition was signed by
David Brannen, managing member.

In its schedules, the Debtor disclosed $22,523,252 in assets and
$16,655,337 in liabilities.


PENSACOLA BEACH: Plan Proposes Payments to American Fidelity
------------------------------------------------------------
Pensacola Beach, LLC, submitted to the U.S. Bankruptcy Court for
the Northern District of Florida a Plan of Reorganization and an
explanatory Disclosure Statement.

According to the Disclosure Statement, the Debtor proposes that
for a six-month period American Fidelity Life Insurance Company
will continue to receive funds as they have been since the entry
of the stipulated order regarding management of hotel and
dismissal of Highpointe Hospitality, Inc. as defendant, dated
March 25, 2010, and the order authorizing use of cash collateral
entered by the Court.

A copy of the Disclosure Statement is available for free at
http://bankrupt.com/misc/PENSACOLA_BEACH_ds.pdf

Gulf Breeze, Florida-based Pensacola Beach, LLC, aka Springhill
Suites by Marriott Pns Beach, filed for Chapter 11 bankruptcy
(Bankr. N.D. Fla. Case No. 13-30569) on May 2, 2013.  Judge
William S. Shulman oversees the case.  Sherry F. Chancellor, Esq.,
at The Law Office of Sherry F. Chancellor, serves as the Debtor's
counsel.  The Debtor also tapped Mark J. Proctor and Travis P.
Lepicier and the law firm of Levin, Papantonio, Thomas, Mitchell,
Rafferty and Proctor, P.A., as attorneys in regard to the British
Petroleum/Deep Water Horizon Oil Spill claims.

In its petition, Pensacola Beach estimated $10 million to
$50 million in both assets and debts.  The petition was signed by
David Brannen, managing member.

In its schedules, the Debtor disclosed $22,523,252 in assets and
$16,655,337 in liabilities.


PILGRIM'S PRIDE: Strong Performance Prompts Moody's Upgrade Watch
-----------------------------------------------------------------
Moody's Investors Service placed the ratings of Pilgrim's Pride
Corporation under review for upgrade, including its B2 Corporate
Family Rating, B2-PD Probability of Default Rating, and Caa1
senior unsecured debt rating. Moody's also upgraded the company's
Speculative Grade Liquidity Rating to SGL-1 from SGL-2.

The review for upgrade reflects PPC's strengthening operating
performance, the significant amount of debt repaid over the past
year through free cash flow, and Moody's expectation than the
operating environment of the U.S. chicken processing industry will
remain favorable during most of the next 12 months. The review
also reflects implicit support from the higher-rated controlling
company, JBS S.A., which was confirmed at Ba3 in a separate rating
action.

The upgrade of the Speculative Grade Liquidity Rating to SGL-1
reflects PPC's very good liquidity profile evidenced by over $750
million of combined cash and borrowing capacity and Moody's
expectation for positive free cash flow over the next twelve
months.

Moody's review will focus on PPC's long-term prospects for
sustaining strong free cash flow and its priorities for future
uses of cash. Moody's will also take into consideration any
influence that JBS S.A. may have on PPC's credit profile in the
future.

Ratings Rationale:

The B2 Corporate Family Rating reflects PPC's concentration in the
highly competitive U.S. chicken industry, modest financial
leverage, narrow profit margins, positive but volatile cash flow,
and very good liquidity. The ratings are supported by the
company's position as one the world's largest producers of poultry
and by its majority ownership by Sao Paulo, Brazil-based JBS, S.A.
(Ba3 negative), one of the largest protein processors in the
world.

The B2 CFR also incorporates the wide range of operating
performance that is typical of the cyclical commodity chicken
industry. At the top of the cycle, Moody's expects leverage to be
very modest relative to the rating category. Conversely, at the
bottom of the cycle Moody's can often tolerate leverage that is
outside normal bounds for a given rating category for a limited
period of time. Importantly, periods of high leverage should be
balanced against ample access to external sources of liquidity.

Pilgrim's Pride Corporation:

Ratings under review for upgrade: (LGD assessments updated):

Corporate Family Rating at B2;

Probability of Default Rating at B2-PD;

$500 million senior unsecured notes due 2018 at Caa1 (LGD 5, 86%)
from Caa1 (LGD 5, 87%).

Ratings upgraded and not under review:

Speculative Grade Liquidity Rating to SGL-1 from SGL-2.

Headquartered in Greeley, Colorado, Pilgrim's Pride Corporation
(NYSE: PPC), is the second largest chicken producer in the world,
with operations in the United States, Mexico and Puerto Rico. The
company produces, processes, markets and distributes fresh, frozen
and value-added chicken products to foodservice customers,
distributors and retail operators worldwide. For the twelve months
ended June 30, 2013, revenues for the company approximated $8.5
billion. Pilgrim's Pride is controlled by JBS, S.A. through an
indirect 75% equity ownership stake.

The principal methodology used in this rating was the Global
Protein and Agriculture Industry published in May 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.


PRESIDENTIAL REALTY: Incurs $514,000 Net Loss in Second Quarter
---------------------------------------------------------------
Presidential Realty Corporation filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss attributable to the Company of $514,426 on $215,802 of
total revenues for the three months ended June 30, 2013, as
compared with a net loss attributable to the Company of $421,792
on $192,566 of total revenues for the same period last year.

For the six months ended June 30, 2013, the Company reported a net
loss attributable to the Company of $924,473 on $429,907 of total
revenues, as compared with a net loss attributable to the Company
of $840,244 on $384,860 of total revenues for the same period a
year ago.

The Company's balance sheet at June 30, 2013, showed $15.83
million in total assets, $20.33 million in total liabilities and a
$4.49 million total deficit.

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

                        http://is.gd/WH2L6U

                     About Presidential Realty

Headquartered in White Plains, New York, Presidential Realty
Corporation, a real estate investment trust, is engaged
principally in the ownership of income-producing real estate and
in the holding of notes and mortgages secured by real estate or
interests in real estate.  On Jan. 20, 2011, Presidential
stockholders approved a plan of liquidation, which provides for
the sale of all of the Company's assets over time and the
distribution of the net proceeds of sale to the stockholders after
satisfaction of the Company's liabilities.

Following the 2011 results, Holtz, Rubenstein Reminick LLP, in
Melville, New York, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company has suffered recurring losses from
operations and has a working capital deficiency.

The Company reported a net loss of $6.16 million in 2011,
compared with a net loss of $2.57 million in 2010.


PROMMIS HOLDINGS: Has Until Oct. 14 to File Chapter 11 Plan
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware extended
Prommis Holdings, LLC, et al.'s exclusive periods to file a
Chapter 11 Plan until Oct. 14, 2013, and solicit acceptances for
that Plan until Dec. 13.

As reported in the Troubled Company Reporter on July 23, 2013,
Steven K. Kortanek, Esq., at Womble Carlyle Sandridge & Rice, LLP,
said that the extension of exclusivity will afford the Debtors and
their stakeholders an adequate runway to follow through on the
plan process in the event that any course corrections are
warranted, without the risk of the substantial additional costs
and disruption that could follow an expiration of either of the
Exclusive Periods.

                     About Prommis Holdings

Atlanta, Georgia-based Prommis Holdings, LLC, and its 10
affiliates delivered their petitions for voluntary bankruptcy
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case
No. 13-10551) on March 18, 2013.

Three subsidiaries -- EC Closing Corp., EC Closing Corp. of
Washington, and EC Posting Closing Corp. -- sought Chapter 11
protection (Bankr. D. Del. Case Nos. 13-11619 to 13-11621) on
June 25, 2013.

Prommis Holdings estimated assets between $10 million and $50
million and debts between $50 million and $100 million.  Prommis
Solutions, LLC, a debtor-affiliate disclosed $18,488,803 in assets
and $260,232,313 in liabilities as of the Chapter 11 filing.

Judge Brendan Linehan Shannon presides over the case.  Steven K.
Kortanek, Esq., at Womble Carlyle Sandridge & Rice, LLP, serves as
the Debtors' counsel, while David S. Meyer, Esq., at Kirkland &
Ellis LLP serves as co-counsel.  The Debtors' restructuring
advisor is Huron Consulting Services, LLC.  Donlin Recano &
Company, Inc., is the Debtors' claims agent.

The Official Committee of Unsecured Creditors tapped Saul Ewing
LLP and Hahn & Hessen LLP as its co-counsels, and FTI Consulting,
Inc., as its financial advisor.


R&J NATIONAL: Court Dismisses Chapter 11 Case
---------------------------------------------
The U.S. Bankruptcy Court has approved the motion filed by R&J
National Enterprises, Inc., for voluntarily dismissal of its
Chapter 11 case.

The Debtor will pay the United States Trustee the appropriate sum
required pursuant to 28 U.S.C. Sec. 1930(a)(6) within 10 days of
the entry of the Court's Order and simultaneously file with the
Court an affidavit of disbursements or monthly operating report
through the date of the Court Order, indicating the cash
disbursements for the relevant period since the last filed report
through and including the date of the Order.

Attorney for the Debtor can be reached at:

         Bradley S. Shraiberg, Esq.
         SHRAIBERG, FERRARA & LANDAU, P.A.
         2385 NW Executive Center Drive, #300
         Boca Raton, FL 33431
         Tel.: 561-443-0800
         Fax: 561-998-0047
         E-mail: bshraiberg@sfl-pa.com

R & J National Enterprises, Inc. filed a Chapter 11 petition
(Bankr. D. Fla. Case No. 10-22765) on May 10, 2010 in West Palm
Beach, Southern District of Florida.  The Debtor estimated up to
$50,000 in assets and up to $10 million in liabilities.


RECEPTOS INC: Incurs $9.9-Mil. Net Loss in Second Quarter
---------------------------------------------------------
Receptos, Inc., filed its quarterly report on Form 10-Q, reporting
a net loss of $9.9 million on $1.2 million of collaborative
revenue for the three months ended June 30, 2013, compared with a
net loss of $3.3 million on $1.7 million of collaborative revenue
for the same period last year.

The Company reported a net loss of $17.5 million on $2.7 million
of collaborative revenue for the six months ended June 30, 2013,
compared with a net loss of $7.3 million on $3.0 million of
collaborative revenue for the corresponding period of 2012.

The Company's balance sheet at June 30, 2013, showed $92.6 million
in total assets, $13.5 million in total liabilities, and
stockholders' equity of $79.1 million.

The report of the Company's independent registered public
accounting firm on the Company's audited consolidated financial
statements at Dec. 31, 2012, contained an explanatory paragraph
that there was substantial doubt about the Company's ability to
continue as a going concern.  "Such an opinion could materially
limit our ability to raise additional funds through the issuance
of new debt or equity securities or otherwise.  There is no
assurance that sufficient financing will be available when needed
to allow us to continue as a going concern.  The perception that
we may not be able to continue as a going concern may cause others
to choose not to deal with us due to concerns about our ability to
meet our contractual obligations."

A copy of the Form 10-Q is available at http://is.gd/cbpBFN

San Diego, Calif.-based Receptos, Inc., is a biopharmaceutical
company focused on discovering, developing and commercializing
innovative therapeutics in immune disorders.


REUTAX AG: Chapter 15 Case Summary
----------------------------------
Chapter 15 Debtor: Reutax AG
                   Speyerer Strae 4
                   69115 Heidelberg, Germany

Chapter 15 Case No.: 13-12135

Chapter 15 Petition Date: August 21, 2013

Court: District of Delaware (Delaware)

Judge: Mary F. Walrath

Chapter 15 Debtor's Counsel: Michael Joseph Custer, Esq.
                             PEPPER HAMILTON LLP
                             Hercules Plaza, Suite 5100
                             1313 Market Street, PO BOX 1709
                             Wilmington, DE 19899
                             Tel: (302) 777-6516
                             Fax: (302) 421-8390
                             E-mail: custerm@pepperlaw.com

Estimated Assets: $10,000,001 to $50,000,000

Estimated Debts: $10,000,001 to $50,000,000

The petition was signed by Tobias Wahl, insolvency administrator
and authorized foreign representative.


REVSTONE INDUSTRIES: Bankrupt Unit Gets Nod on Chrysler, GM Pact
----------------------------------------------------------------
Law360 reported that a Delaware bankruptcy judge approved a sale
support agreement between Revstone Industries LLC's bankrupt
subsidiary Metavation Inc. and General Motors Co. and Chrysler
Group Inc., which the debtor argued was crucial to the going-
concern value of the affiliate leading up to a proposed $25
million stalking horse sale.

According to the report, U.S. Bankruptcy Judge Brendan L. Shannon
made his ruling over the objections from several creditors in the
Revstone case -- which is not jointly administered with
Metavation's -- including the creditors committee and major
secured creditor.

                 About Revstone Industries et al.

Lexington, Kentucky-based Revstone Industries LLC, a maker of
truck parts, filed for Chapter 11 bankruptcy (Bankr. D. Del. Case
No. 12-13262) on Dec. 3, 2012.  Judge Brendan Linehan Shannon
oversees the case.  Laura Davis Jones, Esq., at Pachulski Stang
Ziehl & Jones LLP represents Revstone.  In its petition, Revstone
estimated under $50 million in assets and debts.

Affiliate Spara LLC filed its Chapter 11 petition (Bankr. D. Del.
Case No. 12-13263) on Dec. 3, 2012.

Lexington-based Greenwood Forgings, LLC (Bankr. D. Del. Case No.
13-10027) and US Tool & Engineering LLC (Bankr. D. Del. Case No.
13-10028) filed separate Chapter 11 petitions on Jan. 7, 2013.
Judge Shannon also oversees the cases.

Duane David Werb, Esq., at Werb & Sullivan, serves as bankruptcy
counsel to Greenwood and US Tool.  Greenwood estimated $1 million
to $10 million in assets and $10 million to $50 million in debts.
US Tool & Engineering estimated under $1 million in assets and
$1 million to $10 million in debts.  The petitions were signed by
George S. Homeister, chairman.

Affiliate Metavation, also known as Hillsdale Automotive, LLC,
also sought protection under Chapter 11 on July 22, 2013 (Bankr.
D. Del. Case No. 13-11831) to sell the bulk of its assets to
industry rival Dayco for $25 million, absent higher and better
offers.

Metavation has tapped Pachulski as its counsel.  Pachulski also
serves as counsel to Revstone and Spara.  Metavation also has
tapped McDonald Hopkins PLC as special counsel, and Rust
Consulting/Omni Bankruptcy as claims agent and to provide
administrative services.

Mark L. Desgrosseilliers, Esq., at Womble Carlyle Sandridge &
Rice, LLP represents the Official Committee of Unsecured Creditors
in Revstone's case.


ROTECH HEALTHCARE: Grossman Pension Plan Quits Equity Panel
-----------------------------------------------------------
Kenneth S. Grossman P.C. Pension Plan resigned as a member of the
official committee of Rotech Healthcare Inc.'s equity security
holders on Aug. 15, 2013.

The Committee members are:

      1. Alden Global Value Recovery Master Fund, L.P.,
         c/o Alden Global Capital LLC
         Attn: Alex Zyngier,
         885 Third Ave.
         New York, NY 10022
         Tel: 212-418-6867

      2. Bastogne Capital Partners, LP
          Attn: Vikas Tandon
          2 Landmark Square, Ste. 212
          Stamford, CT 06902
          Tel: 203-965-8345

       3. Varana Capital Master, L.P.
          Attn: Philip Broenniman
          623 Fifth Ave., Ste. 3101
          New York, NY 10022
          Tel: 212-993-1564

       4. Wynnefield Partners Small Cap Value, L.P. I
          Attn: Stephen Zelkowicz
          450 Seventh Ave., Ste. 509
          New York, NY 10123
          Tel: 212-760-0278
          Fax: 212-760-0824

Attorney assigned to this case can be reached at:

         Jane M. Leamy, Esq.
         Tel: (302) 573-6491
         Fax: (302) 573-6497

Debtors' Counsel can be reached at:

         Joseph M. Barry, Esq.
         Tel: (302) 571-6600
         Fax: (302) 571-1253

                       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 Equity Panel is
represented by Bayard, P.A. as Delaware counsel.

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: Equity Panel Retains Cooley LLP as Counsel
-------------------------------------------------------------
The Official Committee of Equity Security Holders of Rotech
Healthcare, Inc., et al., asks the U.S. Bankruptcy Court for
authority to retain Cooley LLP as lead replacement counsel.

Ronald R. Sussman, Esq., attests that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

                      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 Equity Panel is
represented by Bayard, P.A. as Delaware counsel.

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: Equity Panel Taps Bayard as Replacement Counsel
------------------------------------------------------------------
The Official Committee of Equity Security Holders of Rotech
Healthcare Inc. et al, ask the U.S. Bankruptcy Court for
permission to retain Bayard, P.A. as Delaware replacement counsel.

Neil B. Glassman, Esq., attests that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

                   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: Noteholders Rip Bid to Junk Make-Whole Claims
----------------------------------------------------------------
BankruptcyData reported that Rotech Healthcare's second lien
noteholders filed with the U.S. Bankruptcy Court an objection to
official committee of equity security holders' motion to disallow
any make-whole payment under the Debtors' second lien indenture.

The objection explains, "The Motion to Disallow -- which seeks an
order prohibiting hypothetical 'makewhole' payments to creditors
that are receiving no cash on account of their Second Lien Notes
and are instead investing $157.5 million in new capital to fund
the amended Plan -- highlights the truly untenable position that
the Equity Committee has adopted in these cases. Without regard to
the disputed 'makewhole,' the Debtors have approximately $647.5
million in secured and unsecured debt.  In 2012, the Debtors
generated $30.3 million in free cash flow (EBITDA minus Capex),
and that number is projected to decline in 2013. Based on their
performance and projections, the Debtors cannot even service the
approximately $300 million of debt that is senior to the Second
Lien Notes.  Litigation over a 'makewhole' for Second Lien
Noteholders, who are owed $320 million and are receiving no cash
or new debt on account of their claims, is a pointless and
wasteful exercise.  The Motion to Disallow should be denied
because it does not present any live case or controversy. As will
be demonstrated, the Debtors' enterprise value is far below their
$647.5 million in debt.  All available evidence shows that the
Debtors are insolvent, and the Equity Committee's own valuation
expert has not opined to the contrary.  Since the Second Lien
Noteholders are not being paid in full on their claims for
principal and accrued interest, the allowance or disallowance of
the Make-Whole Payment is academic.  The Motion to Disallow thus
does not present a real-world dispute for resolution."

Rotech Healthcare and Wilmington also filed separate joinders to
the objection.

                      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: 3-Member Creditors' Committee Appointed
---------------------------------------------------------
Roberta A. DeAngelis, U.S. Trustee for Region 3, appointed three
members to the committee of unsecured creditors in the Chapter 11
cases of Rural/Metro Corporation, et al.

The Committee members are:

   1. Wilmington Trust National Association
      Attn: Geoffrey J. Lewis and Steven Cimalore
      Rodney Square North
      1100 North Market Street
      Wilmington, DE 19890
      Phone: 302-636-6438
      E-Mail: GLewis@WilmingtonTrust.com

   2. Henry Schein, Inc.
      Attn: Timothy Ingoelia
      135 Duryea Road
      Melville, NY 11747
      Phone: 631-843-5500
      Fax: 631-845-2864
      E-Mail: Timothy.Ingoelia@HenrySchein.com

   3. Brownstone Investment Group
      Attn: Robert Stevens
      5055th Ave., New York 10017
      Phone: 212-905-0559
      E-Mail: RStevens@brownstone.com

Mark S. Kenney, Esq., for T. Patrick Tinker, Assistant U.S.
Trustee.

                   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.


SEAFOOD SHANTY: Spring Township Restaurant Closes
-------------------------------------------------
Seafood Shanty has closed, according to a handwritten note posted
on the door of the Spring Township restaurant, in Pennsylvania.
The report notes in June, owner Eddie Riegel said the

Reading Eagle reports that Seafood Shanty has closed, according to
a handwritten note posted on the door of the Spring Township
restaurant.  The report notes in June, owner Eddie Riegel said the
business had filed for Chapter 11 bankruptcy and would continue to
operate during bankruptcy reorganization.  However, a note on the
door Saturday said the restaurant was closed and referred all
inquiries to the phone number of the owner's company in Exeter
Township.  Mr. Riegel did not immediately respond to questions
about the closing.


SEARS HOLDINGS: B3 CFR Unchanged Following Poor 2Q Results
----------------------------------------------------------
Moody's Investors Service said that while Sears Holdings' weak
second quarter results are a credit negative for the company,
there is no immediate impact on the company's B3 Corporate Family
Rating, the SGL-2 Speculative Grade Liquidity rating or the stable
rating outlook.

Sears Holdings is an integrated retailer with almost 2,500 full-
line and specialty retail stores in the US and Canada primarily
operating under the "Sears" and "Kmart" brands.


START SCIENTIFIC: Incurs $161K Net Loss in Second Quarter
---------------------------------------------------------
Start Scientific, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $161,302 for the three months ended
June 30, 2013, compared with a net loss of $426,788 for the same
period last year.

The Company reported a net loss of $316,730 for the six months
ended June 30, 2013, compared with a net loss of $493,925 for the
corresponding period of 2012.

The Company generated net revenues of $-0- for the three and six
month periods ended June 30, 2013, and 2012.  "The lack of
revenues is mainly the result of the change in our business model
from a reseller of computer hardware and software to an oil and
gas exploration and development company."

The Company's balance sheet at June 30, 2013, showed $25.2 million
in total assets, $1.4 million in total liabilities, and
stockholders' equity of $23.8 million.

"As reported in its Annual Report on Form 10-K for the year ended
Dec. 31, 2012, the Company has incurred operating losses of
$5,921,881 from inception of the Company through Dec. 31, 2012.
The Company's accumulated deficit at June 30, 2013, was $6,238,611
and had a working capital deficit, continued losses, and negative
cash flows from operations.  These factors combined, raise
substantial doubt about the Company's ability to continue as a
going concern."

A copy of the Form 10-Q is available at http://is.gd/guPIt7

San Antonio, Tex.-based Start Scientific, Inc., was, prior to
April 2012, a reseller of technology-related hardware and
software, including laptops, desktops, networking devices,
telecommunication systems and networks, servers and software.  In
April, 2012 in connection with the acquisition of two separate
one-fourth (1/4) working interests in certain oil and gas leases
located in Yazoo County, Mississippi, the Company's principal
business became the exploration, development, and production of
oil and gas interests.

On May 16, 2012, the Company entered into an agreement to acquire
all of the outstanding shares of Carpathian Energy SRL, in
exchange for 90,000,000 shares of restricted common stock of the
Company.  Carpathian is a Romanian limited liability company
engaged in oil & gas exploration and development.  Pursuant to the
terms of agreement entered into in connection with the
Acquisition, the former owners of Carpathian may rescind the
Acquisition and reclaim the shares of Carpathian in the event that
the Company does not invest at least $5 million toward development
of Carpathian's oil and gas assets.


STEWART & STEVENSON: Moody's Withdraws All Ratings
--------------------------------------------------
Moody's Investors Service has withdrawn all assigned ratings to
Stewart & Stevenson LLC. The company used proceeds from perpetual
preferred units to repay in full its 10% senior notes due 2014.
Moody's withdrew the Corporate Family Rating and Probability of
Default Rating as well.

Ratings withdrawn:

Issuer: Stewart & Stevenson LLC

B2 Corporate Family Rating

B2-PD Probability of Default Rating

SGL-3 Speculative Grade Liquidity Rating

Caa1, LGD5 - 83% Senior Unsecured Regular Bond/Debenture

Rating outlook withdrawn

Ratings Rationale:

Stewart & Stevenson LLC is a private company headquartered in
Houston, TX that designs, manufactures and provides specialized
equipment for the oil and gas industry, among various others. The
company operates through two business segments: manufacturing and
distribution. Products include equipment used in hydraulic
fracturing, well stimulation, workover, intervention and drilling
operations.


STOCKTON, CA: Lawyer Says Plan Won't Interfere with Talks
---------------------------------------------------------
Steven Church, writing for Bloomberg News, reported that
representatives of Stockton, California, met with creditors and a
mediator on Aug. 23 in an effort to win support for a proposal it
will file in court next month to cut debt and exit bankruptcy, the
city's lead attorney said.

According to the report, that proposal would be a so-called
cramdown plan, Marc A. Levinson, the attorney for Stockton, said
in an e-mail dated Aug. 23, 2013.  That means the plan lacks
widespread support among creditors.  By meeting with the mediator,
U.S. Bankruptcy Judge Elizabeth Perris of Oregon, the city could
reach a deal with some creditors before the plan is submitted,
Levinson said.

"The goal is to change it to a consensual plan before it is
filed," Levinson said he told the federal judge overseeing
Stockton's bankruptcy, the report related.  "That, of course,
depends on whether the mediation results in deals."

Stockton, an agricultural center of 296,000 about 80 miles (130
kilometers) east of San Francisco, is among four municipalities
that have said they will ask creditors including bondholders to
take less than the principal they are owed, the report noted.  The
others are Detroit, San Bernardino, California, and Jefferson
County, Alabama.

Should Stockton file a cramdown plan, it can still try to
negotiate a settlement, Levinson said, the report further related.

                     About Stockton, Cal.

The City of Stockton, California, filed a Chapter 9 petition
(Bankr. E.D. Cal. Case No. 12-32118) in Sacramento on June 28,
2012, becoming the largest city to seek creditor protection in
U.S. history.  The city was forced to file for bankruptcy after
talks with bondholders and labor unions failed.  Stockton
estimated more than $1 billion in assets and in excess of
$500 million in liabilities.

The city, with a population of about 300,000, identified the
California Public Employees Retirement System as the largest
unsecured creditor with a claim of $147.5 million for unfunded
pension costs.  In second place is Wells Fargo Bank NA as trustee
for $124.3 million in pension obligation bonds.  The list of
largest creditors includes $119.2 million owing on four other
series of bonds.

The city is being represented by Marc A. Levinson, Esq., and John
W. Killeen, Esq., at Orrick, Herrington & Sutcliffe LLP.  The
petition was signed by Robert Deis, city manager.

Mr. Levinson also represented the city of Vallejo, Cal. in its
2008 bankruptcy.  Vallejo filed for protection under Chapter 9
(Bankr. E.D. Cal. Case No. 08-26813) on May 23, 2008, estimating
$500 million to $1 billion in assets and $100 million to $500
million in debts in its petition.  In August 2011, Vallejo was
given green light to exit the municipal reorganization.   The
Vallejo Chapter 9 plan restructures $50 million of publicly held
debt secured by leases on public buildings.  Although the Plan
doesn't affect pensions, it adjusts the claims and benefits of
current and former city employees.  Bankruptcy Judge Michael
McManus released Vallejo from bankruptcy on Nov. 1, 2011.

The bankruptcy judge on April 1, 2013, ruled that the city of
Stockton is eligible for municipal bankruptcy in Chapter 9.


SUNEDISON INC: IPO of Semiconductor Unit Won't Impact 'B3' CFR
--------------------------------------------------------------
Moody's Investors Service said SunEdison, Inc.'s B3 corporate
family rating is not affected by the announced plan for an initial
public offering (IPO) of a minority stake in SunEdison's
Semiconductor Materials segment, though it is credit positive.

SunEdison, Inc., based in St. Peters, Missouri, is a supplier of
polysilicon semiconductor wafers to semiconductor foundries and
integrated device manufacturers and develops, constructs, and
operates solar energy power projects.


SUNRISE BANK: FDIC Named as Receiver; First Fidelity Gets Deposits
------------------------------------------------------------------
Sunrise Bank of Arizona, Phoenix, Arizona, was closed by the
Arizona Department of Financial Institutions, which appointed the
Federal Deposit Insurance Corporation (FDIC) as receiver.  To
protect the depositors, the FDIC entered into a purchase and
assumption agreement with First Fidelity Bank, National
Association, Oklahoma City, Oklahoma, to assume all of the
deposits of Sunrise Bank of Arizona.

The six branches of Sunrise Bank of Arizona will reopen as
branches of First Fidelity Bank, National Association during their
normal business hours.  Depositors of Sunrise Bank of Arizona will
automatically become depositors of First Fidelity Bank, National
Association.  Deposits will continue to be insured by the FDIC, so
there is no need for customers to change their banking
relationship in order to retain their deposit insurance coverage
up to applicable limits.  Customers of Sunrise Bank of Arizona
should continue to use their existing branch until they receive
notice from First Fidelity Bank, National Association that it has
completed systems changes to allow other First Fidelity Bank,
National Association branches to process their accounts as well.

Friday evening and over the weekend, depositors of Sunrise Bank of
Arizona were able to access their money by writing checks or using
ATM or debit cards.  Checks drawn on the bank will continue to be
processed.  Loan customers should continue to make their payments
as usual.

As of June 30, 2013, Sunrise Bank of Arizona had approximately
$202.2 million in total assets and $196.9 million in total
deposits.  In addition to assuming all of the deposits of the
failed bank, First Fidelity Bank, National Association agreed to
purchase essentially all of the assets.

The FDIC estimates that the cost to the Deposit Insurance Fund
(DIF) will be $17.0 million. Compared to other alternatives, First
Fidelity Bank, National Association's acquisition was the least
costly resolution for the FDIC's DIF.  Sunrise Bank of Arizona is
the 20th FDIC-insured institution to fail in the nation this year,
and the third in Arizona.  The last FDIC-insured institution
closed in the state was Central Arizona Bank, Scottsdale, on May
14, 2013.


SWIFT AIR: Obtains Conditional Approval in Bankruptcy Court
-----------------------------------------------------------
On Aug. 23, the U.S. Bankruptcy Court, District of Arizona granted
conditional approval to Swift Air of its proposed second amended
disclosure statement and authorized the company to immediately
begin the process of soliciting creditor acceptances of its
proposed plan of reorganization. The Bankruptcy Court has also
scheduled a confirmation hearing with regard to the company's
reorganization plan for September 30, 2013. In an important
development, the Official Creditors' Committee in the company's
chapter 11 reorganization case indicated its full support and
endorsement of the company's plan and strategies for emergence
from bankruptcy, anticipated to occur by mid-October.

In addition, the Bankruptcy Court authorized the company to secure
additional Boeing 737 aircraft supporting the current VIP
clientele as well as serving new customers with the planned
diversification into the ACMI market.

Following the Aug. 23 proceedings, Swift's CEO Jeff Conry said,
"This is an important milestone in the company's continuing steps
to emerge from chapter 11 in the very near future. We are
gratified to have the support of our plan sponsor, Nimbos
Holdings, as well as the Official Creditors' Committee. We will
continue to work cooperatively with our key constituents to assure
our plan is approved by the Court at the September 30th hearing,
with a view toward emerging from bankruptcy protection in, or
about, mid-October.

                       About Swift Air LLC

Swift Air LLC filed a Chapter 11 petition in its home-town in
Phoenix (Bankr. D. Ariz. Case No. 12-14362) on June 27, 2012.
Michael W. Carmel, Ltd., serves as counsel.  The Debtor estimated
assets of under $1 million and debts exceeding $10 million.


TC GLOBAL: Dempsey Out of Investment Group
------------------------------------------
KOMO News reports that actor Patrick Dempsey bid farewell to
ownership of the Tully's Coffee chain that his investment group,
Global Baristas, rescued from Chapter 11 bankruptcy less than a
year ago.

Global Baristas completed its $9.15 million acquisition of Tully's
Coffee chain in July after winning a bankruptcy auction in
January, beating out a combined rival bid of about $10.6 million
from AgriNurture Inc. and Starbucks Corp.

According to KOMO News, reports show Mr. Dempsey filed a lawsuit
Tuesday, suing his business partner, Michael Avenatti, for taking
a $2 million loan against Tully's assets without Mr. Dempsey's
knowledge.  In a statement released early Friday, Messrs. Dempsey
and Avenatti, and Global Baristas announced a tentative agreement
to terminate the recent litigation, and resolve the disagreement
amongst themselves.  KOMO says the settlement is confidential.

Hours later, according to KOMO News, Mr. Dempsey was quoted in a
press release saying "Although Michael and I have dissolved our
business relationship, I am happy to have been a part of the
effort that brought awareness to the Tully's brand. I wish the
Company and Michael all the best."

"I am happy that we have resolved our differences and have put
this behind us, and I know we each wish the other well in our
respective future endeavors," Mr. Dempsey added.

                          About TC Global

Headquartered in Seattle, Washington, TC Global, Inc., dba Tully's
Coffee -- http://www.tullyscoffeeshops.com/-- is a specialty
coffee retailer and wholesaler.  Through company owned, licensed
and franchised specialty retail stores in Washington, Oregon,
California, Arizona, Idaho, Montana, Colorado, Wyoming and Utah,
throughout Asia with Tully's Coffee International, and with its
global alliance partner Tully's Coffee Japan, Tully's premium
coffees are available at 545 branded retail locations globally.

TC Global Inc. filed a Chapter 11 petition (Bankr. W.D. Wash. Case
No. 12-20253-KAO) on Oct. 10, 2012.

The Debtor is represented by attorneys at Bush Strout & Kornfeld
LLP, in Seattle.

The Debtor disclosed assets of $4.9 million and debt totaling
$3.7 million, including $2.6 million in unsecured claims.

The Seattle-based chain has 57 company-owned stores and 12
franchised.  There are another 71 franchises in grocery stores,
schools and airports.  Tully's will close nine stores following
bankruptcy.

Tully's sold the wholesale and distribution business in 2009,
generating $40 million that allowed a $5.9 million distribution to
shareholders.


TOUCHPOINT METRICS: Incurs $140K Net Loss in Second Quarter
-----------------------------------------------------------
Touchpoint Metrics, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $139,851 on $273,325 of total revenue for
the three months ended June 30, 2013, compared with a net loss of
$89,946 on $165,283 of total revenue for the same period last
year.

The Company reported a net loss of $295,618 on $539,713 of total
revenue for the six months ended June 30, 2013, compared with a
net loss of $297,798 on $288,124 of total revenue for the
corresponding period of 2012.

The Company's balance sheet at June 30, 2013, showed $1.5 million
in total assets, $344,064 in total liabilities, and stockholders'
equity of $1.2 million.

"As reflected in the consolidated financial statements included in
this report, for the six months ended June 30, 2013, we had a net
loss of $295,618, and a net loss of $306,948 for the year ended
Dec. 31, 2012.  We have had material operating losses and have not
yet created positive cash flows.  These factors raise substantial
doubt as to our ability to continue as a going concern."

A copy of the Form 10-Q is available at http://is.gd/H4QtHH

San Francisco, Calif.-based Touchpoint Metrics, Inc., is engaged
in the business of developing and delivering technology-enabled
products and services that improve customer experience management
capabilities for corporations.


TECHPRECISION CORP: KPMG LLP Raises Going Concern Doubt
-------------------------------------------------------
TechPrecision Corporation filed with the U.S. Securities and
Exchange Commission on Aug. 16, 2013, its annual report on Form
10-K for the year ended March 31, 2013.

KPMG LLP, in Philadelphia, Pa., said that the Company was not in
compliance with the fixed charges and interest coverage financial
covenants under their credit facility, and the Bank has not agreed
to waive the non-compliance with the covenants.  "Since the
Company is in default, the Bank has the right to accelerate
payment of the debt in full upon 60 days written notice.  The
Company has suffered recurring losses from operations, and the
Company's liquidity may not be sufficient to meet its debt service
requirements as they come due over the next twelve months."

The Company reported a net loss of $2.4 million on $32.5 million
of sales for the year ended March 31, 2013, compared with a net
loss of $2.1 million on $33.3 million of sales in fiscal 2012.

Loss from operations was $1.6 million in fiscal 2013 compared to
an operating loss of $3.4 million in fiscal 2012.

For fiscal 2013, the Company recorded tax expense of $472,331
compared with a tax benefit of $1.5 million in fiscal 2012.

The Company's balance sheet at March 31, 2013, showed
$21.6 million in total assets, $11.5 million in total liabilities,
and stockholders' equity of $10.1 million.

A copy of the Form 10-K is available at http://is.gd/l3ExZx

TechPrecision Corporation (OTC BB: TPCSE), through its wholly
owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical
Components Co., Ltd., globally manufactures large-scale, metal
fabricated and machined precision components and equipment.


TRIBUNE CO: Koch Brothers Decide Not to Buy Newspapers
------------------------------------------------------
Reuters reported that Charles and David Koch, two of the world's
richest men, have walked away from talks to buy the Tribune Co's
newspaper assets, concluding that the papers were not economically
viable.

According to the report, their company, Koch Industries, continues
to have an interest in the media business and is exploring a broad
range of opportunities, spokeswoman Melissa Cohlmia said,
confirming a report on their Tribune decision by the Daily Caller
news website.

The Daily Caller said the brothers had decided not to pursue the
newspapers, which include the Chicago Tribune and the LA Times, as
Tribune Co plans for them to be separated from web sites like
CareerBuilder.com which could leave the newspapers without an
important source of revenue, the report said.

Koch Industries is a sprawling conglomerate whose holdings include
crude oil and natural gas pipelines, paper products like Dixie
Cups and Angel Soft toilet tissue, and cattle ranches. The
brothers are known for their conservative views.

                        About Tribune Co.

Chicago, Illinois-based Tribune Co. -- http://www.tribune.com/--
and 110 of its affiliates filed for Chapter 11 protection (Bankr.
D. Del. Lead Case No. 08-13141) on Dec. 8, 2008.  The Debtors
proposed Sidley Austin LLP as their counsel; Cole, Schotz, Meisel,
Forman & Leonard, PA, as Delaware counsel; Lazard Ltd. and Alvarez
& Marsal North America LLC as financial advisors; and Epiq
Bankruptcy Solutions LLC as claims agent.  As of Dec. 8, 2008, the
Debtors listed $7,604,195,000 in total assets and $12,972,541,148
in total debts.  Chadbourne & Parke LLP and Landis Rath LLP served
as co-counsel to the Official Committee of Unsecured Creditors.
AlixPartners LLP served as the Committee's financial advisor.
Landis Rath Moelis & Company served as the Committee's investment
banker.  Thomas G. Macauley, Esq., at Zuckerman Spaeder LLP, in
Wilmington, Delaware, represented the Committee in connection with
the lawsuit filed against former officers and shareholders for the
2007 LBO of Tribune.

Protracted negotiations and mediation efforts and numerous
proposed plans of reorganization filed by Tribune Co. and
competing creditor groups delayed Tribune's emergence from
bankruptcy.  Many of the disputes among creditors center on the
2007 leveraged buyout fraudulence conveyance claims, the
resolution of which is a key issue in the bankruptcy case.

Judge Kevin J. Carey issued an order dated July 13, 2012,
overruling objections to the confirmation of Tribune Co. and its
debtor affiliates' Plan of Reorganization.  In November 2012,
Tribune received approval from the Federal Communications
Commission to transfer media licenses, one of the hurdles to
implementing the reorganization plan.  Aurelius Capital Management
LP failed in halting implementation of the plan pending appeal.

Tribune Co. exited Chapter 11 protection Dec. 31, 2012, ending
four years of reorganization.  The reorganization allowed a group
of banks and hedge funds, including Oaktree Capital Management and
JPMorgan Chase & Co., to take over the media company.


TXU CORP: Bank Debt Trades at 31% Off
-------------------------------------
Participations in a syndicated loan under which TXU Corp is a
borrower traded in the secondary market at 68.80 cents-on-the-
dollar during the week ended Friday, August 23, 2013, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 0.70
percentage points from the previous week, The Journal relates.
TXU Corp pays 450 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Oct. 10, 2014.  Moody's
withdraws the bank debt and Standard & Poor's has not rated the
bank debt.  The loan is one of the biggest gainers and losers
among 249 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

          About Energy Future Holdings, fka TXU Corp.

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80 percent-owned entity within the EFH group, is the largest
regulated transmission and distribution utility in Texas.

The Company delivers electricity to roughly three million delivery
points in and around Dallas-Fort Worth.  EFH Corp. was created in
October 2007 in a $45 billion leverage buyout of Texas power
company TXU in a deal led by private-equity companies Kohlberg
Kravis Roberts & Co. and TPG Inc.

                Restructuring Talks With Creditors

In April 2013, Energy Future Holdings Corp., Energy Future
Competitive Holdings Company, Texas Competitive Electric Holdings
Company LLC, and Energy Future Intermediate Holding Company LLC
confirmed in a regulatory filing that they are in restructuring
talks with certain unaffiliated holders of first lien senior
secured claims concerning the Companies' capital structure.

The Companies expect to continue to explore all available
restructuring alternatives to facilitate the creation of
sustainable capital structures for the Companies and to otherwise
attempt to address the Creditors' concerns with the Restructuring
Proposal and Sponsor Proposal.

The Companies have retained Kirkland & Ellis LLP and Evercore
Partners to advise the Companies with respect to the potential
changes to the Companies' capital structure and to assist in the
evaluation and implementation of other potential restructuring
options.

The Creditors have retained Paul, Weiss, Rifkind, Wharton &
Garrison LLP and Millstein & Co., L.P. to advise the Creditors and
to assist in the Creditors' evaluation of potential restructuring
options involving the Companies.

According to a Wall Street Journal report, people familiar with
the matter said Apollo Global Management LLC, Oaktree Capital
Management, Centerbridge Partners and GSO Capital Partners, the
credit arm of buyout firm Blackstone Group LP, all hold large
chunks of Energy Future Holdings' senior debt.  Many of these
firms belong to a group being advised by Jim Millstein, a
restructuring expert who helped the U.S. government revamp
American International Group Inc.

According to the Journal, people familiar with Apollo's thinking
said Apollo recently enlisted investment bank Moelis & Co. for
additional advice to ensure it gets as much attention as possible
on the case given its large debt holdings.

                           *     *     *

In the Feb. 1, 2013, edition of the TCR, Fitch Ratings lowered
the Issuer Default Ratings (IDR) of Energy Future Holdings Corp
(EFH) and Energy Future Intermediate Holding Company LLC (EFIH) to
'Restricted Default' (RD) from 'CCC' on the conclusion of the debt
exchange and removed the Rating Watch Negative.

As reported by the TCR on Feb. 4, 2013, Standard & Poor's Ratings
Services said it raised its corporate credit ratings on EFH, EFIH,
TCEH, and Energy Future Competitive Holdings Co. (EFCH) to 'CCC'
from 'D' following the completion of several debt exchanges, each
of which S&P considers distressed.

In February 2013, Moody's Investors Service withdraw Energy
Future Holdings Corp.'s Caa3 Corporate Family Rating, Caa3-PD
Probability of Default Rating, SGL-4 Speculative Grade Liquidity
Rating and developing rating outlook.  At the same time, Moody's
assigned a Ca CFR to Energy Future Competitive Holdings Company
and a B3 CFR to Energy Future Intermediate Holdings Company LLC.
Both EFCH and EFIH are intermediate subsidiary holding companies
wholly-owned by EFH. EFCH's rating outlook is negative. EFIH's
rating outlook is negative.

"We see different default probabilities between EFCH and EFIH,"
said Jim Hempstead, senior vice president. "We believe EFCH has a
high likelihood of default over the next 6 to 12 months, because
it is projected to run out of cash in early 2014. EFIH has a much
lower likelihood of default owing to the credit separateness that
EFH is creating between EFIH and Texas Competitive Electric
Holdings Company LLC along with EFIH's reliance on stable cash
flows from its regulated transmission and distribution utility,
Oncor Electric Delivery Company."


UNIVERSAL HEALTH: Trustee Hires E-Hounds as Imaging Consultant
--------------------------------------------------------------
Soneet R. Kapila, as the duly appointed Chapter 11 Trustee for the
estate of Universal Health Care Group, Inc., asks the U.S.
Bankruptcy Court for permission to employ E-Hounds, Inc. as a
forensic imaging consultant and to approve the compensation
negotiated between the Trustee and E-Hounds.

The Chapter 11 Trustee seeks to employ E-Hounds to perform
forensic imaging of servers and computers belonging to Universal
and/or AMC.

The firm attests that it is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

Attorneys for the Chapter 11 Trustee and American Managed Care,
LLC can be reached at:

         Roberta A. Colton, Esq.
         Rhys P. Leonard, Esq.
         TRENAM, KEMKER, SCHARF, BARKIN,
         101 E. Kennedy Blvd., Suite 2700
         Tampa, FL 33602
         Tel: (813) 223-7474
         E-mail: rcolton@trenam.com
                 rleonard@trenam.com

                   About Universal Health Care

Universal Health Care Group, Inc., owns an insurance company and
three health-maintenance organizations that provide managed care
services for government sponsored health care programs, focusing
on Medicare and Medicaid.

Universal Health was founded in 2002 by Dr. A.K. Desai and grew
its operations of offering Medicare plans to more than 37,000
members to over 20 states.

Universal Health filed a Chapter 11 bankruptcy protection (Bankr.
M.D. Fla. Case No. 13-01520) on Feb. 6, 2013, after Florida
regulators moved to put two of the company's subsidiaries in
receivership.

Universal Health Care estimated assets of up to $100 million and
debt of less than $50 million in court filings in Tampa, Florida.

Harley E. Riedel, Esq., at Stichter Riedel Blain & Prosser, in
Tampa, serves as counsel to the Debtor.


URBAN AG. CORP: Incurs $448K Net Loss in Second Quarter
-------------------------------------------------------
Urban AG. Corp filed its quarterly report on Form 10-Q, reporting
a net loss of $448,014 on $163,936 of revenue for the three months
ended June 30, 2013, compared with a net loss of $989,956 on
$1.7 million of revenue for the same period last year.

The Company reported a net loss of $772,949 on $385,023 of revenue
for the six months ended June 30, 2013, compared with a net loss
of $1.0 million on $3.5 million of revenue for the corresponding
period of 2012.

The Company' balance sheet at June 30, 2013, showed $3.4 million
in total assets, $12.6 million in total liabilities, and a
stockholders' deficit of 9.2 million.

The Company said: "The Company has experienced substantial losses,
has a working capital deficiency of approximately $12.3 million, a
stockholders' deficit of approximately $9.2 million and is in
default on several financial obligations at June 30, 2013, which
raises substantial doubt about the Company's ability to continue
as a going concern

"Additionally, the Company's accounts receivable financing
arrangement has been terminated by the lender.  Also, as of
June 30, 2013, the Company has delinquent payroll taxes of
approximately $1.2 million."

A copy of the Form 10-Q is available at http://is.gd/KjhU8t

North Andover, Massachusetts-based Urban AG. Corp, through its
wholly-owned subsidiary CCS Environmental World Wide, Inc.,
provides hazardous material abatement and environment remediation
services.


VENTURE HOLDINGS: JPMorgan Succeeds in Guaranty Suit v. Winget
--------------------------------------------------------------
District Judge Avern Cohn granted JPMorgan Chase Bank, N.A.'s
motion for summary judgment and rejected the defenses raised by
Larry Winget and the Larry Winget Living Trust in the bank's suit
against Winget et al. to enforce a guaranty and two pledge
agreements entered into by Winget and the Winget Trust in 2002 in
which they guaranteed the obligations of Venture Holdings Company,
LLC, a company owned and controlled by Winget and/or the Winget
Trust.  JPMorgan is the Administrative Agent for a group of
lenders that extended credit to Venture.

Venture defaulted on the loan in 2003 when it filed a Chapter 11
bankruptcy petition.  Deluxe filed a Chapter 11 bankruptcy
petition in 2004.  Both Venture's and Deluxe's bankruptcy cases
were subsequently converted to Chapter 7 proceedings, and
bankruptcy trustees were appointed.  The Venture and Deluxe
bankruptcy proceedings have largely been wound down.  The cases
are In re NM Holdings Co., LLC, No. 03-48939 (E.D. Mich. Bankr.;
and In re Deluxe Pattern Corp., No. 04-54977 (E.D. Mich. Bankr.).
As of Aug. 31, 2012, more than $425,113,115.59 in principal
remains on the Venture debt after accounting for distributions
from the bankruptcy proceedings.

In spring 2005, the Venture and Deluxe debtors-in-possession sold
their operating assets as going concern.  The Operating Assets
Sale was carried out under an Asset Purchase Agreement, and the
buyer acquired all of Venture's and Deluxe's assets except for
those specifically excluded under the Agreement.  The bankruptcy
court approved the sale; it closed on May 2, 2005.

According to Judge Cohn's decision, "Chase has been in this Court
since 2005 seeking to enforce Winget's guarantee of Venture's
debt.  The dispute has moved forward slowly, sometimes stalled.
What we have seen is an enormous amount of attorney effort to get
to this day. While the issue for trial has been defined as
'whether there is any more 'other collateral' that Chase has not
yet made reasonable efforts to collect on which remains
unliquidated,' the reality of what is left is unclear. What is
left for the Court to deal with before a final judgment enters
will be discussed at a status conference on Tuesday, September 24,
2013 at 2:00 pm. Prior to the conference, Chase shall file a
proposed judgment on the summary judgment motion as well as
advising the Court in advance of the conference as to what remains
before the case is closed."

A copy of the Court's Aug. 21, 2013 Memorandum and Order is
available at http://is.gd/y6IHTRfrom Leagle.com.

The case is JP MORGAN CHASE BANK, N.A., Plaintiff/Counter-
Defendant, v. LARRY WINGET and the LARRY WINGET LIVING TRUST,
Defendants/Counter-Plaintiffs, Case No. 08-13845 (E.D. Mich.).

JPMorgan Chase Bank, N.A., is represented by Melville W. Washburn,
Esq. -- mwashburn@sidley.com -- at Sidley, Austin; and William T.
Burgess, Esq. -- wburgess@dickinsonwright.com -- at Dickinson
Wright.

Larry J. Winget and Larry J Winget Living Trust are represented
by:

         John E. Anding, Esq.
         Theodore J. Westbrook, Esq.
         Thomas V. Hubbard, Esq.
         DREW, COOPER, & ANDING
         Aldrich Place, Suite 200
         80 Ottawa Avenue NW
         Grand Rapids, MI 49503
         E-mail: janding@dca-lawyers.com
                 twestbrook@dca-lawyers.com
                 thubbard@dca-lawyers.com

                      About Venture Holdings

Headquartered in Fraser, Michigan, Venture Holdings Company, LLC,
nka NM Holdings Company, LLC, and its debtor-affiliates filed for
chapter 11 protection (Bankr. E.D. Mich. Case No. 03-48939) on
March 28, 2003.  Deluxe Pattern Corporation and its debtor-
affiliates filed for chapter 11 protection on May 24, 2004 (Bankr.
E.D. Mich. Case No. 04-54977).  Venture's prepetition lenders
acquired Venture's assets during the chapter 11 proceeding.  John
A. Simon, Esq., at Foley & Lardner LLP represented the Debtors.
On Jan. 17, 2006, the Court converted the Debtors' chapter 11
cases to chapter 7 liquidation.  Stuart A. Gold was appointed as
the chapter 7 Trustee for the Debtors' estates.


WEIGHT WATCHERS: Membership Woes Cue Moody's to Lower CFR to Ba2
----------------------------------------------------------------
Moody's Investors Service downgraded the debt ratings of Weight
Watchers' International. The Corporate Family rating was revised
to Ba2 from Ba1, the Probability of Default rating was dropped to
Ba3-PD from Ba2-PD and the senior secured credit facility ratings
were downgraded to Ba2 from Ba1. In addition, a Speculative Grade
Liquidity rating of SGL-2 was assigned. The ratings outlook was
revised to negative from stable.

Ratings Rationale:

"Weight Watchers has been seemingly slow to react to accelerating
declines in meeting attendance and growing competition from
internet-based calorie counting services, focusing instead on
longer term business to business initiatives," noted Edmond
DeForest, Moody's Senior Analyst.

The downgrade to Ba2 CFR reflects Moody's expectation for
continued declines in revenues, profits and free cash flow,
resulting in debt to EBITDA (all financial metrics reflect Moody's
standard adjustments) remaining above 4.5 times. Moody's
anticipates Weight Watchers will experience further declines in
meeting attendance, paid weeks and fees in 2013 before stabilizing
in 2014; these important operating metrics have declined for 6
straight quarters. However, Weight Watchers is highly profitable
and free cash flow generative, with Moody's expecting pre-tax
income of over $300 million per year and over $200 million a year
in free cash flow. Liquidity from free cash flow, an unused $250
million revolving credit facility and about $120 million of cash
is considered good.

The negative ratings outlook reflects Moody's concerns that
stabilization of meeting attendance and paid weeks may not occur
by early 2014, which could result in debt to EBITDA remaining at
about 4.5 times for a prolonged period. The ratings outlook could
be stabilized if meeting attendance and paid weeks stabilize and
revenue and profit declines subside, resulting in Moody's adjusted
debt to EBITDA of less than 4 times and free cash flow to debt of
about 10%. A further downgrade to ratings is possible if meeting
attendance, paid weeks and fees do not stabilize, resulting in
greater than anticipated declines in revenues and profits, or if
operating profit margins decline, or if Moody's anticipates any
departure from the company's deleveraging commitment.

Downgrades:

Corporate Family Rating, Downgraded to Ba2 from Ba1

Probability of Default Rating, Downgraded to Ba3-PD from Ba2-PD

Senior Secured Revolving Credit Facility due Apr 2, 2018,
Downgraded to Ba2 (LGD3, 33%) from Ba1 (LGD3, 33%)

Senior Secured Term Loan due Apr 2, 2016, Downgraded to Ba2 (LGD3,
33%) from Ba1 (LGD3, 33%)

Senior Secured Term Loan due Apr 2, 2020, Downgraded to Ba2 (LGD3,
33%) from Ba1 (LGD3, 33%)

Assignments:

Speculative Grade Liquidity Rating, Assigned SGL-2

Outlook Actions:

Outlook, Changed To Negative From Stable

The principal methodology used in this rating was Global Business
& Consumer Service Industry Rating 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.

Weight Watchers is a leading global provider of weight management
services and a leading global branded consumer company.


* Morgan Drexen Asks Judge to Halt CFPB's Data Mining Countersuit
-----------------------------------------------------------------
First thing's first.  Morgan Drexen has asked a federal judge to
put a stop to a lawsuit filed last week by the Consumer Financial
Protection Bureau (CFPB) until the agency's constitutionality can
be determined.  On Aug. 20, the CFPB filed a complaint against
Morgan Drexen in a California federal court, essentially defying a
request from a District of Columbia judge not to pursue legal
action until she issues a ruling on the agency's constitutional
legitimacy.

The CFPB ignored the request, filing the lawsuit exactly one week
before it was due to issue a response to Morgan Drexen's motion
for summary judgment in the lawsuit the company filed against the
CFPB in July.  Morgan Drexen is asking U.S. District Court Judge
Colleen Kollar-Kotelly to issue a temporary restraining order and
preliminary injunction preventing the California lawsuit from
moving forward until she renders her decision, which is expected
in late September.

"This retaliatory move by the CFPB is disruptive, distracting,
and, we believe, disrespectful to the Court," said Randall K.
Miller, the attorney representing Morgan Drexen.  "The judge set
forth an expedited schedule that all parties agreed to, yet the
CFPB chose to file suit 3,000 miles away before any resolution
regarding the agency's very legitimacy had been reached."

Morgan Drexen's lawsuit argues the CFPB lacks the
constitutionally-required checks, balances, and oversight required
of a federal agency.  Further, the complaint accuses the CFPB of
attempting to data mine private bankruptcy documents and
communications protected by attorney-client privilege. As
described in the motion filed:

"An injunction is necessary to permit the orderly disposition of
this case, which is proceeding on an expedited schedule ordered by
the Court, and consented to by the CFPB, and to avoid the
duplication, inefficiency, and risk of inconsistent decisions on
the foundational constitutional issue."

The CFPB's lawsuit against Morgan Drexen inaccurately
characterizes the company as a debt settlement firm.  Morgan
Drexen is a business-to-business provider that offers software and
back-office support services to help companies, including law
firms, operate more efficiently.  Morgan Drexen's support services
model has been evaluated and confirmed by at least 16
jurisdictions across the country, including state bars and
district courts.  Morgan Drexen's attorney, Randall K. Miller, has
called the CFPB's lawsuit "procedural gamesmanship" designed to
derail its own case in federal court.


* Moody's Puts Largest U.S. Banks' Ratings Under Review
-------------------------------------------------------
Daily Bankruptcy Review reported that Moody's Investors Service
put ratings of big U.S. bank holding companies on watch for
possible downgrade, citing a possible removal of extraordinary
government support now that the industry is moving closer to
formalizing plans for liquidating banks in crisis.

According to the report, the agency joins Standard & Poor's Corp
., which said it was also reviewing the holding company ratings of
Bank of America , Wells Fargo & Co., J.P. Morgan Chase & Co .,
Citigroup , Bank of New York Mellon Corp., State Street, Morgan
Stanley and Goldman Sachs for similar reasons.


* Moody's Reviews Debt Ratings on Holding Cos. for 6 US Banks
-------------------------------------------------------------
Moody's Investors Service has placed the senior and subordinated
debt ratings of the holding companies for the six largest US banks
on review as it considers reducing its government (or systemic)
support assumptions to reflect the impact of US bank resolution
policies.

Four -- Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells
Fargo -- are on review for downgrade. Two, Bank of America and
Citigroup, are on review direction uncertain, as the rating agency
considers the potentially offsetting influence of improvements in
the standalone credit strength of their main operating
subsidiaries, the ratings on which were simultaneously placed on
review for upgrade.

Included in the review are the short-term ratings of several of
these bank holding companies. Two additional banks, Bank of New
York Mellon and State Street, whose ratings were previously placed
on review for downgrade, are also included in this review.

At the same time, and also in response to the possible reduction
of government support assumptions, the ratings on the bank-level
subordinated debt of JP Morgan Chase Bank N.A. and Wells Fargo
Bank N.A. were placed on review for downgrade, while those at Bank
of America N.A. are on review direction uncertain. The bank-level
subordinated debt ratings of The Bank of New York Mellon and State
Street Bank and Trust, which were previously placed on review for
downgrade, are also included in the review. There is no rated
bank-level subordinated debt outstanding at Citibank N.A., Goldman
Sachs Bank USA or Morgan Stanley Bank N.A.

Moody's actions follow its March 2013 announcement that it would
reassess its support assumptions for bank holding companies in the
US and that it would consider whether to revise these assumptions
by the end of the year.

As US bank resolution policies continue to evolve, Moody's will
assess the opposing forces that may have an impact on bondholders
at the holding company level should a bank become financially
distressed. The first is a lower level of systemic support that
could result in a higher probability of default. The second is the
potential for a more orderly workout and a required minimum level
of holding company debt that may well limit losses in the event of
a default. The reviews will also consider the implications of such
policies for bank-level subordinated bonds, which may also be
subject to burden-sharing in the event of severe financial
distress. In addition, for four of the eight banks -- Bank of
America, Citigroup, Bank of New York Mellon, and State Street --
the reviews will also consider the banks' standalone or baseline
credit assessments -- positively for the first two, and negatively
for the latter two.

"In the past year, we have seen progress towards establishing a
framework to credibly resolve these large systemically-important
banks, as called for under the Dodd-Frank Act," said Robert Young,
Managing Director. "We have also seen greater cooperation and
discussion among international banking regulators to manage the
coordinated resolution of global banking groups."

The following ratings were placed on review for downgrade:

The Goldman Sachs Group, Inc. -- A3 senior, Baa1 subordinated and
Baa3 (hyb) trust preferred vehicles

JP Morgan Chase & Co. -- A2 senior, A3 subordinated, Baa2 (hyb)
trust preferred vehicles and Prime-1 short-term rating

JP Morgan Chase Bank N.A. -- A1 subordinated

Morgan Stanley -- Baa1 senior, Baa2 subordinated, Ba1 (hyb) trust
preferred vehicles and Prime-2 short-term rating

Wells Fargo & Company, Inc. -- A2 senior, A3 subordinated, Baa1
(hyb) trust preferred vehicles and Prime-1 short-term rating

Wells Fargo Bank, N.A. -- A1 subordinated and A3 (hyb) trust
preferred vehicles

Bank of America Corporation -- Prime-2 short-term rating

Citigroup, Inc. -- Prime-2 short-term rating

The following ratings continue to be on review for downgrade, as
initiated on July 2, 2013:

The Bank of New York Mellon Corporation -- Aa3 senior, A1
subordinated, A2 (hyb) trust preferred vehicles and Baa1 (hyb)
noncumulative preferred

The Bank of New York Mellon -- B bank financial strength rating
(BFSR)/aa3 baseline credit assessment (BCA), Aa1 deposits and
senior and (P)Aa2 subordinated

State Street Corporation -- A3 (hyb) trust preferred vehicles and
Baa1 (hyb) noncumulative preferred

State Street Bank and Trust Company -- B BFSR/aa3 BCA, Aa2
deposits and senior and Aa3 subordinated

The following ratings were placed on review for upgrade:

Bank of America, N.A. -- D+ BFSR/baa3 BCA, A3/Prime-2 deposits and
senior

Bank of America Corporation -- B1 (hyb) noncumulative preferred

Citibank, N.A. -- D+ BFSR/baa3 BCA, A3/Prime-2 deposits and senior

Citigroup, Inc. -- B1 (hyb) noncumulative preferred

The following ratings were placed on review direction uncertain:

Bank of America Corporation -- Baa2 senior, Baa3 subordinated and
Ba2 (hyb) trust preferred vehicles

Bank of America, N.A. -- Baa1 subordinated

Citigroup, Inc. -- Baa2 senior, Baa3 subordinated and Ba2 (hyb)
trust preferred vehicles

State Street Corporation -- A1 senior, A2 subordinated (direction
of review initiated July 2 changed from review for downgrade)

The Prime-2 short-term rating of The Goldman Sachs Group, Inc. was
affirmed. The noncumulative preferred stock ratings of The Goldman
Sachs Group, Inc., JP Morgan Chase & Co., Morgan Stanley and Wells
Fargo & Company, Inc. have also been affirmed. The standalone
credit assessments and the short- and long-term deposit, issuer,
and senior debt ratings of Goldman Sachs Bank USA, JP Morgan Chase
Bank N.A., Morgan Stanley Bank N.A. and Wells Fargo Bank, N.A.
were also affirmed.

Ratings Rationale:

Progress Towards Credible Resolution Mechanism Affects Risks For
Bank Holding Company Creditors:

As US bank resolution policies evolve, Moody's will review two
opposing effects that influence risks for bondholders at the
holding company level. The first effect is the reduced likelihood
and predictability of systemic support that would result from a
credible bank resolution mechanism. Such mechanisms are designed
to allow regulators to restore the solvency of a distressed bank
without using taxpayer funds.

The second, opposing effect is the possible reduction in the
severity of losses for holding company creditors in the event of a
default under a future US bank resolution. If executed as
intended, more of a banking group's value may be preserved versus
a bankruptcy scenario due to a more orderly resolution of the
entity. And expected requirements regarding holding company debt
levels may provide greater resources for restoring solvency,
reducing the size of haircuts imposed on holding company
creditors.

"In other words, the risk of default may be increasing because
authorities may be less likely to support a banking group, while
losses in the event of default (loss severity) may be decreasing,"
said Robert Young, Managing Director.

Moody's Continues To Assess Evolving Resolution Policies:

In June 2012, Moody's placed negative outlooks on the holding
company ratings of all systemically-important US banking groups
whose debt ratings benefit from "uplift" due to government support
above what they would be rated based solely on their standalone
credit quality. The negative outlooks reflected the progress the
Federal Deposit Insurance Corporation (FDIC) had made in devising
a mechanism to implement the Orderly Liquidation Authority (OLA)
enacted as part of the Dodd-Frank Act. OLA gives the FDIC the
authority to resolve financially-distressed systemically-important
financial institutions but also requires that it be done without
using taxpayer funds while avoiding financial market contagion. At
the same time, Moody's assigned stable rating outlooks to the
bank/operating subsidiary obligations of these firms.

In a March 2013 comment, "Reassessing Systemic Support in US Bank
Ratings -- An Update and FAQs," Moody's outlined the four areas
where major hurdles remained to an orderly resolution of these
banks: international regulatory cooperation, capital structure,
corporate structure, and market structure. Although hurdles to the
successful use of OLA by the FDIC remain, conviction is clear,
progress continues, and momentum has built. This progress includes
continued dialogue among international regulators, an expectation
that the Federal Reserve will establish minimum standards for
holding company debt to facilitate OLA, further refinement of
"living wills," and some reduction in interconnectedness among
banks.

If Used, Single Point-Of-Entry Receivership Would Result In A
Default For Holding Company Creditors:

In its review, Moody's will focus on the resolution mechanism
referred to as Single Point-of-Entry Receivership (SER). SER is
the FDIC's stated preferred mechanism for implementing OLA. Under
this framework, the FDIC would impose losses on bank holding
company creditors in order to recapitalize and maintain the
operations of its systemically-important subsidiaries.

If resolution through SER is likely to be attempted in the event
of distress at these banks, this will result in a lower expected
probability of government support for bank holding company debt,
signifying a higher risk of default. Seven of the eight holding
companies on review currently benefit from one notch (for Bank of
New York Mellon and Wells Fargo) or two notches (for Bank of
America, Citigroup, Goldman Sachs, JP Morgan Chase, and Morgan
Stanley) of uplift from government support. State Street's holding
company ratings do not currently incorporate any uplift. A
conclusion that the probability of government support is lower may
result in either a partial or complete removal of this uplift from
the current ratings.

However, Losses May Become Less Severe Under Single Point-Of-Entry
Receivership:

Moody's will also consider whether the use of SER is likely to
reduce the severity of loss for holding company creditors. Moody's
current ratings anticipate that these creditors would sustain very
high losses in the event of a default because bank holding company
defaults have typically involved a holding company bankruptcy
following the seizure and liquidation of its bank subsidiary. In
contrast, under SER, a distressed banking group's systemically-
important subsidiaries continue to operate, thus potentially
preserving their value to the benefit of senior holding company
creditors.

Another development that may reduce loss severity is the US
regulators' plan to require banks to hold a certain amount of debt
at the holding company level. This holding company debt is
designed to be the primary cushion to absorb losses in the event
of a workout. For a given loss, the larger the cushion, the more
likely that not all of the holding company debt would be written
down or converted to equity in a default scenario under SER.

For each of the banks on review, a reduction in Moody's severity
of loss assumptions for holding company bondholders may offset
some or all of the negative ratings effect of a higher probability
of default stemming from a reduction in government support
assumptions. However, any ratings benefit from a lower loss
severity assumption is unlikely to exceed one notch.

Subordinated Creditors At Bank Level Could Also Face Greater
Risks:

The review will also consider the implications of the evolving US
bank resolution policies on bank-level subordinated debt that
currently includes uplift due to the potential for systemic
support. SER is intended to allow systemically-important
subsidiaries to continue to operate without defaulting on their
own obligations, even if holding company creditors experience a
default. However, Moody's sees two potential risks for bank-level
subordinated creditors. The first is that even if SER were to be
utilized, there remains the risk that bank-level subordinated
creditors could be subject to a distressed exchange at the outset
of the resolution. The second is that, unlike senior creditors at
the operating bank level, bank-level subordinated creditors may
not benefit from any incremental government support the
authorities may feel compelled to provide to ensure systemic
stability if SER is not sufficient to prevent a default at the
operating bank.

During the review, Moody's will evaluate these risks and will also
consider the risk to bank-level subordinated creditors relative to
holding company senior creditors. While these risks may result in
lower ratings for bank-level subordinated debt, the ratings are
unlikely to fall below the holding company senior debt ratings.

Standalone Credit Considerations:

The standalone credit assessments of four of the eight banks are
also on review. Moody's placed the standalone credit assessments
of Bank of America and Citigroup on review for upgrade. An upgrade
of either Bank of America's or Citigroup's standalone credit
assessment may offset some or all of the negative ratings effect
of a potential reduction in government support assumptions.

The standalone credit assessments of State Street and Bank of New
York Mellon had been placed on review for downgrade last month.
They remain on review. A downgrade of Bank of New York Mellon's
standalone credit assessment could amplify the ratings effect of a
potential reduction in government support. State Street's ratings
would be negatively affected only by a lower standalone credit
assessment; its holding company ratings do not currently
incorporate any uplift due to government support. However, as with
the other seven banks, its holding company debt ratings may
benefit from a lower loss severity assumption.

Other Systemically-Important Subsidiaries:

As part of this rating action, Moody's placed the ratings of a
number of these firms' systemically-important and highly-
integrated subsidiaries on review, primarily for upgrade. SER is
designed to stabilize all systemically-important operating
subsidiaries of these firms, which may include non-banks and non-
domestic subsidiaries. Historically, Moody's has not attributed
the full benefit of potential government support to these
subsidiaries' ratings. The review of these entities will also
consider whether support is more likely for them under SER. The
ratings of Bank of New York Mellon's other systemically-important
subsidiaries were placed on review for downgrade last month,
reflecting pressures on their baseline credit assessments. This
rating action changes the direction of the review to uncertain to
consider the potential for more support under SER.

Bank-Specific Considerations:

Bank of America and Citigroup

The review of Bank of America N.A.'s D+/baa3 baseline credit
assessment will consider the benefits to Bank of America's
creditors from reduced tail risks and expenses related to its
legacy mortgage exposures. The bank has reached settlements on a
variety of legal fronts, and a legal decision expected this fall
may well further reduce the risk of additional mortgage repurchase
losses by approving the bank's settlement of Countrywide's
repurchase obligations on private-label RMBS. In addition, as the
US housing market improves, stress losses on mortgages have
declined and mortgage servicing costs are also expected to
decline.

During the review, Moody's will evaluate the extent to which these
developments, together with ongoing efficiency initiatives, are
likely to improve Bank of America's profitability as well the
consistency of its earnings over the next few years. Stronger,
more consistent earnings from Bank of America's core banking
franchises would provide thicker shock absorbers to protect
creditors from the potential volatility and inherent risk opacity
of the bank's sizeable global capital markets business.

Moody's placed Citibank N.A.'s D+/baa3 baseline credit assessment
on review for upgrade, reflecting the firm's declining exposure to
legacy assets, strengthened profitability and improved capital.
Nonetheless, Citigroup remains one of the world's most complex and
global banks and represents a formidable risk management
challenge, particularly as pressure for growth and increased
returns continues. Management incentives and risk controls are
also important, given the absolute size of Citigroup's global
markets activities. Given these challenges, Moody's review will
focus on Citigroup's potential returns and earnings stability as
management continues to hone its strategy.

An upgrade of Bank of America's or Citigroup's baseline credit
assessment may at least partially offset the ratings effect of a
potential reduction in government support for holding company
creditors. In addition, the holding company ratings may benefit
from a lower loss severity assumption from Moody's. For these
reasons, the review of Bank of America's and Citigroup's senior
and subordinated holding company ratings is with direction
uncertain. Because Moody's is not reconsidering its support
assumptions for bank deposits and bank-level senior debt
obligations, ratings for those obligations are on review for
upgrade along with the baseline credit assessments.

The holding company short-term ratings at Bank of America
Corporation and Citigroup, Inc. are on review for downgrade, in
contrast with the review direction uncertain of their long-term
ratings. The potential negative impact of a lower government
support assumption is not expected to be offset enough by other
factors, including any positive benefits of improvements in their
standalone credit strength, to result in a higher short-term
rating.

Bank of New York Mellon and State Street

On July 2, 2013, Moody's placed the B/aa3 baseline credit
assessments and all other long-term ratings of State Street and
Bank of New York Mellon on review for downgrade. The review was
initiated in order to examine the long-term profitability
challenges facing these very highly-rated banks. These
profitability challenges are driven by the aggressive pricing of
these banks' core custody products and services, such that their
overall fee revenue is roughly similar to their total expenses.
The review will also examine the banks' ability to generate more
revenue from custody-related services and cut costs.

The review for Bank of New York Mellon will now also include a
reassessment of the level of systemic support incorporated into
the holding company ratings. The review for both firms will now
include a reassessment of Moody's loss severity assumptions for
holding company creditors and the level of systemic support
included in the subordinated debt ratings at the bank operating
company level.

State Street's ratings would be negatively affected only by a
lower standalone credit assessment; its holding company ratings do
not currently incorporate any uplift due to government support.
However, as with the other seven banks, its holding company debt
ratings may benefit from a lower loss severity assumption. For
these reasons, the review of State Street's senior and
subordinated holding company ratings has been changed from review
for downgrade to review direction uncertain.

Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo,

The reviews will consider the level of systemic support
incorporated into the bank holding company ratings, the loss
severity assumptions in those ratings, and the level of systemic
support included in the bank-level subordinated debt ratings of
each firm.

The holding company short-term ratings at JP Morgan Chase & Co.,
Morgan Stanley, and Wells Fargo & Company, Inc. are also on review
for downgrade, reflecting the potential impact of a downgrade of
their long-term ratings. The holding company short-term rating at
Goldman Sachs Group, Inc. was affirmed because even if all
government support is removed and no benefit from lower loss
severity is included, the holding company's current Prime-2 short-
term rating would not change.

The baseline credit assessments of all four banks were affirmed,
together with the ratings on their bank deposits and bank-level
senior debt obligations.

The principal methodology used in ratings of Citigroup Inc., Wells
Fargo & Company, State Street Corporation, and Bank of New York
Mellon Corporation (The) was Global Banks Methodology published in
May 2013.

The principal methodology used in ratings of Goldman Sachs Group,
Inc. was Global Securities Industry Methodology published in May
2013.

The methodologies used in ratings of JPMorgan Chase & Co., Bank of
America Corporation, Morgan Stanley were Global Banks Methodology
published in May 2013, and Global Securities Industry Methodology
published in May 2013.


* Reinsurers' Underwriting Gains Offset By Unrealized Losses
------------------------------------------------------------
Fitch Ratings says reinsurers' solid underwriting gains in the
first half of 2013 were offset by increased unrealized investment
losses, according to a newly-published report.

The global reinsurers that Fitch rates improved their underwriting
combined ratio to 85.9% in H113, compared with 87.7% in H112, as
catastrophe-related losses were manageable and loss reserve
development remained favorable.

The global reinsurance industry experienced below-average natural
catastrophe losses of USD13bn in H113, below the 10-year average
of USD22bn. The majority of losses were from flooding in Europe,
Canada and Australia, and severe thunderstorms in the US.

Solid underwriting profitability was offset by increased
unrealized investment losses on fixed maturities, resulting in
shareholders' equity growth of only 1.3% for non-life reinsurers
during H113. Underwriting opportunities remained somewhat limited,
resulting in only marginal growth in premiums written.

Several individual reinsurance product lines continued to
experience unfavorable reserve development during H113, primarily
longer-tail casualty and liability lines.  However, earnings
continue to be supported by surpluses from prior-year reserves.
Reserve releases were equivalent to 6.4% of earned premiums in
H112, against 6.6% at end-2012.


* Argentina's ATFA Lauds Second Circuit Ruling in Debt Case
-----------------------------------------------------------
The American Task Force Argentina on Aug. 23 welcomed a ruling
from the U.S. Court of Appeals for the Second Circuit that upholds
the rule of law and reinforces the principle that the law applies
equally to all parties that submit to the judgment of U.S. courts.

Regarding the Court's ruling, ATFA Executive Director Robert Raben
made the following statement:

"[Fri]day's unanimous, well-reasoned decision is a victory for the
rule of law and the enforcement of contracts in the United
States."

"In order to raise billions of dollars at inexpensive rates in the
U.S. financial markets, Argentina promised in its bond contract to
submit to the jurisdiction of U.S. courts, adhere to New York law
and waive its sovereign immunity.  Since defaulting on those bonds
in 2001, Argentina has ignored those promises, waged a vicious
campaign against its creditors, and resisted every attempt by
creditors to engage in good-faith negotiations.  ATFA hopes that
Argentina will see today's ruling as motivation to resolve its
financial obligations through good-faith negotiations and
discontinue its defiance of court judgments and the rule of law."

The Second Circuit's decision directly addressed Argentina's
uniquely defiant and disorderly treatment of its unpaid creditors
and U.S. courts.  The decision cited Argentina's threats to pay
"not one dollar" to its unpaid creditors and to "not voluntarily
obey" the Court's orders, despite being fully able to pay.  "It is
within this context that we review the amended injunctions for
abuse of discretion and, finding none, we affirm," the Court
wrote.

Importantly, the Court rejected Argentina's claims that upholding
the lower court's orders would force it to default on its current
debt.  The Court cited the lower court's finding that Argentina
"has the financial wherewithal" to pay both holders of its current
debt and holders of its defaulted debt.  The Court rightly decided
that it was "unwilling to permit Argentina's threats to punish
[holders of its current debt] to dictate the availability or terms
of relief [available to holders of its defaulted debt]."

The Court also rejected Argentina's claims that upholding the
lower court's orders would have a negative impact on future
sovereign restructurings.  The Court called these claims,
"speculative, hyperbolic, and almost entirely of the Republic's
own making."  The Court called this case "an exceptional one with
little apparent bearing on transactions that can be expected in
the future."

In fact, this ruling should serve to increase global economic
stability by discouraging sovereigns from attempting to follow
what the ratings agency Moody's called Argentina's "unique[ly]
unilateral and coercive approach to debt restructuring."

The Second Circuit appeared to agree, observing that "cases like
this one are unlikely to occur in the future because Argentina has
been a uniquely recalcitrant debtor," among other reasons.

On Aug. 23, ATFA renewed its calls for Argentina to sit down with
its creditors and reach a fair resolution of its defaulted debt.


* BOND PRICING -- For Week From Aug. 19 to 23, 2013
---------------------------------------------------

  Company               Ticker Coupon Bid Price Maturity Date
  -------               ------ ------ --------- -------------
AES Eastern Energy LP   AES     9.670     3.100      1/2/2029
AES Eastern Energy LP   AES      9.000     1.750       1/2/2017
AGY Holding Corp        AGYH    11.000    52.063     11/15/2014
Affinion Group
  Holdings Inc          AFFINI  11.625    61.375     11/15/2015
Alion Science &
  Technology Corp       ALISCI  10.250    62.500       2/1/2015
Buffalo Thunder
  Development
  Authority             BUFLO    9.375    31.875     12/15/2014
California Baptist
  Foundation            CALBAP   7.800     6.222      5/15/2015
Cengage Learning
  Acquisitions Inc      TLACQ   10.500    20.750      1/15/2015
Cengage Learning
  Acquisitions Inc      TLACQ   12.000    13.000      6/30/2019
Cengage Learning
  Acquisitions Inc      TLACQ   10.500    20.750      1/15/2015
Cengage Learning
  Acquisitions Inc      TLACQ   13.250     1.375      7/15/2015
Cengage Learning
  Acquisitions Inc      TLACQ   13.250     1.375      7/15/2015
Cengage Learning
  Holdco Inc            TLACQ   13.750     1.375      7/15/2015
Champion
  Enterprises Inc       CHB      2.750     0.375      11/1/2037
Eastman Kodak Co        EK       7.000     2.000       4/1/2017
Eastman Kodak Co        EK       9.950     1.500       7/1/2018
Eastman Kodak Co        EK       9.200     2.913       6/1/2021
Energy Conversion
  Devices Inc           ENER     3.000     7.875      6/15/2013
Energy Future
  Holdings Corp         TXU      5.550    50.000     11/15/2014
Federal Home Loan Banks FHLB     1.550    96.500      6/13/2023
FiberTower Corp         FTWR     9.000     1.000       1/1/2016
GMX Resources Inc       GMXR     9.000    14.833       3/2/2018
GMX Resources Inc       GMXR     4.500     5.980       5/1/2015
James River Coal Co     JRCC     4.500    38.725      12/1/2015
LBI Media Inc           LBIMED   8.500    29.000       8/1/2017
Lehman Brothers
  Holdings Inc          LEH      1.000    21.500      8/17/2014
Lehman Brothers
  Holdings Inc          LEH      1.000    21.500      8/17/2014
Lehman Brothers
  Holdings Inc          LEH      1.000    21.500      3/29/2014
Lehman Brothers
  Holdings Inc          LEH      0.250    21.500      1/26/2014
Lehman Brothers
  Holdings Inc          LEH      1.250    21.500       2/6/2014
Mashantucket Western
  Pequot Tribe          MASHTU   6.500    15.250       7/1/2036
Orbital Sciences Corp   ORB      2.438    88.000      1/15/2027
PMI Group Inc/The       PMI      6.000    31.000      9/15/2016
Penson Worldwide Inc    PNSN     8.000     8.625       6/1/2014
Platinum Energy
  Solutions Inc         PLATEN  14.250    57.850       3/1/2015
Powerwave
  Technologies Inc      PWAV     1.875     0.875     11/15/2024
Powerwave
  Technologies Inc      PWAV     1.875     0.875     11/15/2024
Public Service
  Electric & Gas Co     PEG      5.375    99.654       9/1/2013
Residential
  Capital LLC           RESCAP   6.875    30.500      6/30/2015
Rotech Healthcare Inc   ROHI    10.500    40.000      3/15/2018
SLM Corp                SLMA     5.250    85.086      3/15/2023
Savient
  Pharmaceuticals Inc   SVNT     4.750    17.500       2/1/2018
School Specialty Inc    SCHS     3.750    38.375     11/30/2026
TMST Inc                THMR     8.000     9.500      5/15/2013
Terrestar Networks Inc  TSTR     6.500    10.000      6/15/2014
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250     6.550      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    25.370       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250     4.625      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500     7.200      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    26.600       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500     5.250      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250     4.625      11/1/2015
UAL 2000-2 Pass
  Through Trust         UAL      7.762     2.008      4/29/2049
USEC Inc                USU      3.000    30.000      10/1/2014
Verso Paper
  Holdings LLC /
  Verso Paper Inc       VRS     11.375    40.488       8/1/2016
Verso Paper Holdings
  LLC / Verso
  Paper Inc             VRS      8.750    30.848       2/1/2019
WCI Communities
  Inc/Old               WCI      4.000     0.500       8/5/2023
Western Express Inc     WSTEXP  12.500    66.250      4/15/2015
Western Express Inc     WSTEXP  12.500    66.250      4/15/2015



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

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
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2013.  All rights reserved.  ISSN: 1520-9474.

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

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-241-8200.


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