TCR_Public/140123.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Thursday, January 23, 2014, Vol. 18, No. 22

                            Headlines

30DC INC: Now Complies with SEC Reporting Regulations
ACCESS GROUP: S&P Puts B Rating on Cl. II-B Notes on Watch Neg.
ALTERRUS SYSTEMS: Files for Bankruptcy under BIA
AMERICAN PETROLEUM: S&P Withdraws 'B' CCR Over Kinder Morgan Deal
AMTRUST FINANCIAL: DC Court Rejects Motion to Quash as Moot

ARCHDIOCESE OF MILWAUKEE: Poised to File Reorganization Plan
ASPEN SIERRA: Case Summary & 5 Unsecured Creditors
BANK OF THE CAROLINAS: Megan Patton Elected SVP and CFO
BELLE FOODS: Court Refuses to Approve Committee & Lenders' Deal
BISHOP OF STOCKTON: Blames Sexual Abuse Claims for Bankruptcy

BISHOP OF STOCKTON: Sec. 341(a) Meeting of Creditors Feb. 21
BISHOP OF STOCKTON: May 22 Set as Claims Bar Date
BONDS.COM GROUP: Michel Daher Stake at 75.9% as of Jan. 14
BRONX 439: Flaum & Assoc. Directed to Disgorge $15,000 in Fees
CALIBRE ACADEMY: Fitch Affirms 'B' Rating on Refunding Bonds

CASAIC OFFSET: Property to Be Auctioned Off Jan. 27
CITIZENS DEVELOPMENT: Seeks Approval to Use LSM's Cash Collateral
CITIZENS DEVELOPMENT: Ally Financial Opposes Plan Confirmation
COLLEGE WAY: Says Lacey Crossroads Worth at Least $26 Million
COMMUNITY HEALTH: S&P Rates $1.7BB Sr. Secured Term Loan 'BB'

COPYTELE INC: Incurs $10.1 Million Net Loss in Fiscal 2013
CUSTOM CONCRETE: Case Summary & 15 Unsecured Creditors
DAVID J. THOMPSON: Case Summary & 20 Top Unsecured Creditors
DETROIT, MI: Orr Lauds State Commitment to Shore Up Pensions
DIALOGIC INC: Plans To Reduce Total Workforce by 16%

DIOCESE OF GALLUP: Wants XTO, et al., Forced to Produce Documents
DIOCESE OF GALLUP: Committee Proposes Pachulski as Counsel
DOLLAR STORAGE: Case Summary & 8 Unsecured Creditors
DOTS LLC: Files for Bankruptcy to Woo New Investors
DOTS LLC: Seeks to Reject Leases for 36 Underperforming Stores

EARTHLINK HOLDINGS: Moody's Assigns B2 CFR; Outlook Stable
ECOTALITY INC: Has Until April 14 to Decide on Unexpired Leases
ELLIOTT-MCGUIRE: Assets to Be Auctioned Off March 25
EXGEN RENEWABLES: S&P Assigns Prelim. 'BB-' Rating to $300MM Loan
EXPEDIA INC: Moody's Affirms Ba1 CFR & Sr. Unsecured Notes Rating

FISKER AUTOMOTIVE: Judge Explains Auction, Credit Bid Cap Ruling
FISKER AUTOMOTIVE: Hires Pachulski Stang as Co-Counsel
FISKER AUTOMOTIVE: Creditors' Panel Hires Saul Ewing as Co-Counsel
FREGO & ASSOCIATES: To Rethink Advertising Strategy
FRIENDSHIP DAIRIES: Files 3rd Plan to Address Court's Concerns

GENIUS BRANDS: Discusses Business in Letter to Shareholders
GLOBAL AVIATION: Panel Taps Morrison & Foerster as Counsel
GLOBAL AVIATION: Creditors' Panel Hires Morris James as Co-Counsel
IBAHN CORP: Has Okay to Implement Key Employee Incentive Plan
IBAHN CORP: Has Until April 4 to Assume or Reject Unexpired Leases

INNER CITY PROPERTIES: Country Club Apartment Complex Being Sold
INTERFAITH MEDICAL: May Lose $7.5MM in Financing, Lender Says
JAMESPORT DEVELOPMENT: Case Summary & 6 Unsecured Creditors
JOURNAL REGISTER: Schneller Motion to Reconsider Plan Order Tossed
JUL-BET ENTERPRISES INC: Case Summary & 5 Top Unsecured Creditors

JUL-BET ENTERPRISES LLC: Case Summary & 4 Top Unsecured Creditors
JURASSIC HOLDINGS: Moody's Assigns B3 CFR & Rates Sr. Notes Caa1
KAHN FAMILY: Plan Calls for Equity Conversion of Unsecured Claims
LEHMAN BROTHERS: Seeks Rejection of Freddie Mac's $1.2-Bil. Claim
LEHMAN BROTHERS: Judge Approves Fannie Mae Stipulation

LEHMAN BROTHERS: Sues Unipol Banca to Recover EUR3.76MM
LEHMAN BROTHERS: Seeks Another 4-Month Stay of Avoidance Suits
LEHMAN BROTHERS: Committee Withdraws Bid to Probe JPMorgan
LIGHTSQUARED INC: Wins Approval of JPMorgan Engagement Letter
LIGHTSQUARED INC: Seeks Approval of $33MM Loan from CRMC, et al.

LIGHTSQUARED INC: US Bank, MAST Ask Court to Confirm One Dot Plan
LINCOLN-MARTI: S&P Assigns 'B' Rating to FL Revenue Bonds
MARC DREIER: Unsecured Claims to Recover 4% to 12% Under Plan
MARTIFER SOLAR: Case Summary & 20 Largest Unsecured Creditors
MARTIFER SOLAR: Section 341(a) Meeting Scheduled for Feb. 20

MORGANS HOTEL: 40 North Mgt. Stake at 4.7% as of Jan. 16
MONTREAL MAINE: Fortress Unit Wins Tuesday's Auction
MOSS FAMILY: Feb. 25 Hearing on Adequacy of Plan Outline
NATIONAL FINANCIAL: Moody's Maintains 'B3' CFR; Outlook Stable
NESCO LLC: S&P Affirms 'B' Corp. Credit Rating on Sponsor Buyout

NETWORK CN: To Offer 8.8 Million Shares Under 2007 Incentive Plan
NEWLEAD HOLDINGS: Issues Additional 2 Million Shares to Hanover
NORMANDY SCHOOL DISTRICT: Bankruptcy Looms Absent State Funding
NRG ENERGY: S&P Assigns 'BB-' Rating to $1.1BB Sr. Unsecured Notes
OLD SECOND: Offering $70 Million Worth of Common Shares

ONCOLOGIX TECH: Incurs $189-K Net Loss in Nov. 30 Quarter
PAR PHARMACEUTICAL: Moody's Reviews B2 CFR for Possible Downgrade
PEROXYCHEM HOLDINGS: S&P Assigns 'B' CCR & Rates $155MM Debt 'B+'
PFS HOLDING: Moody's Assigns First Time 'B2' CFR; Outlook Stable
PHARMEDIUM: Moody's Says 1st Lien Loan Upsize is Credit Negative

PLEXTRONICS INC: Seeks Authority to Obtain $1.6-Mil. DIP Loans
PLEXTRONICS INC: Seeks Authority to Use Cash Collateral
PLEXTRONICS INC: Files Schedules of Assets and Liabilities
PLEXTRONICS INC: Has Deal to Sell to Solvay for $32.6 Million
PLY GEM HOLDINGS: Prices $500 Million Senior Notes Offering

PMC MARKETING: Landlord Wins Summary Judgment in Trustee's Suit
PUBLIC BIKE: Bike-Sharing Service Files for Bankruptcy in Canada
PULTEGROUP INC: Moody's Rasies CFR to 'Ba2', Outlook Stable
QUANTUM FUEL: Kevin Douglas Stake at 19.9% as of Jan. 18
RADIOSHACK CORP: Litespeed Stake at 8.1% as of Jan. 7

RADISSON RTP: Closes Doors, Sells Assets
RG STEEL: Court Dismisses Portions of Suit Against Severstal
RIH ACQUISITIONS: Claims May Be Filed Over Unredeemed Chips
RIH ACQUISITIONS: Klehr Harrison Okayed as Committee Counsel
SEARS HOLDINGS: Big Kmart at Charleston, SC to Close

SEARS HOLDINGS: Sears Store at Columbia, SC Mall to Close
SUNEE PAUL: Spa Equipment to Be Auctioned Off Feb. 27
ST. FRANCIS HOSPITAL: Says Ombudsman Not Unnecessary
TAMARACK RESORT: Sheriff Continues to Sell Assets
TODD AARON BERNSTEIN: Chapter 7 Trustee Dissolves Schoolhouse

UNITED STATES OIL: SEC Revokes Registration of Securities
VERITEQ CORP: Amends 856,449 Common Shares Resale Prospectus
VINCE YOUNG: Football Player Seeks Ch.11 Bankruptcy Protection
WESLEY HARMON: Property to Be Auctioned Off March 24
WIGWAM JONES INDUSTRIAL: Assets to Be Sold Jan. 31

* MRC Puts Sheepshead Bay Condominium Units Up for Sale for $24.5M
* Moody's Says Drop in Political Ad Revenue to Hit TV Broadcasters

* Blank Rome Adds 21 Attorneys to California & New York Offices
* Molly Sheehan Among U.S. Banker Magazine's "Woman to Watch"

* Recent Small-Dollar & Individual Chapter 11 Filings


                             *********


30DC INC: Now Complies with SEC Reporting Regulations
-----------------------------------------------------
30DC, Inc., has filed its Sept. 30, 2013, Form 10-Q quarterly
report and is now in full compliance with the U.S. Securities and
Exchange Commission regulations as a fully reporting public
company as reflected under the Securities Exchange Act of 1934.
Due to the company's fully reporting status, 30DC's shares are now
trading on the OTCQB exchange.

Dr. Henry Pinskier, 30DC's Chairman commented, "We are gaining
tremendous momentum with our MagCast and Digital Publishing
Blueprint products.  Going forward, we will continue to focus our
efforts on updates to the MagCast technology to broaden the
potential reach and user population.  The MagCast network now
consists of 650+ digital magazine Apps with a collective
3,000,000+ downloads to date.  The company will be advising the
market in the near future about new business developments with its
digital publishing products".

As of Jan. 15, 2014, 30DC has 87,413,464 common shares issued and
outstanding.

                           About 30DC Inc.

New York-based 30DC, Inc., provides Internet marketing services
and related training to help Internet companies in operating their
businesses.  It operates in two divisions, 30 Day Challenge and
Immediate Edge.

30DC incurred a net loss of $407,642 on $1.97 million of total
revenue for the year ended June 30, 2013, as compared with net
income of $32,207 on $2.91 million of total revenue during the
prior fiscal year.  As of Sept. 30, 2013, the Company had $4.22
million in total assets, $2.68 million in total liabilities and
$1.53 million in total stockholders' equity.

Marcum LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended June 30,
2013.  The independent auditors noted that the Company has a
working capital deficit and stockholders' deficiency as of
June 30, 2012.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


ACCESS GROUP: S&P Puts B Rating on Cl. II-B Notes on Watch Neg.
---------------------------------------------------------------
Standard & Poor's Ratings Services placed two ratings on
CreditWatch with negative implications from two asset-backed
securities (ABS) trusts issued by Access Group Inc.  In addition,
one rating from one of these transactions remains on CreditWatch,
where S&P placed it on July 8, 2013.

The placement of the two notes on CreditWatch negative reflects
the decrease in credit enhancement since S&P's last review on
Sept. 14, 2012, as compared to S&P's previous projected lifetime
cumulative net losses.  Since S&P's last review, it has reviewed
interim default data through June 2013, which shows that the pace
of defaults has increased.  However, during this period, the
servicer changed to Xerox Educational Services, formerly known as
ACS Education Services, from Access Group Inc.  S&P will be
reviewing more recent default data through November 2013 to
determine if the pace of defaults is still elevated or if the pace
is more inline with what it was before the transfer and what
impact, if any, the default performance may have on our cumulative
default assumption.

                            Series 2001

The series 2001 trust originally had two pools of loans that
supported two separate groups of notes.  Access Group Inc.
exercised its call right on the first pool, which consisted of
Federal Family Education Loan Program loans guaranteed by the U.S.
Department of Education and used the proceeds to pay the
corresponding notes in full in February 2012.  Currently, this
trust consists primarily of notes backed by private loans provided
to graduate students.

This deal is currently allocating principal payments pro rata to
the class IIA-1 and II-B notes.  The transaction must reprioritize
interest from the subordinate bonds to make payments to the senior
bonds if the senior parity falls below 100%.  In addition, the
deal must pay sequentially if the senior parity falls below 100%
or if defaults among the private loans exceed 17%.  This deal
called for mandatory redemptions starting in August 2011, so the
issuer can no longer receive releases.  This would suggest that
both the senior and total parity levels could increase; however,
the senior parity and total parity levels have decreased.  As of
October 2013, the reported senior parity and the reported total
parity were approximately 111.72% and 102.26%, respectively, a
decrease from 112.17% and 102.66%, respectively, as of April 2012.
This decrease indicates that there is not enough excess spread for
the parity to benefit from the full turbo feature of this deal.
As a result, S&P believes the current credit enhancement may not
be commensurate with the current 'B+ (sf)' rating on the class II-
B notes and, therefore, have placed the rating on CreditWatch
negative.  Although the senior parity has also decreased, S&P
believes the current credit enhancement still supports the class
IIA-1 notes' current 'BBB (sf)' rating, so S&P is not placing it
on CreditWatch.

                          Series 2002-A

The series 2002-A trust directs available funds (subsequent to
senior fee and bond interest payments) to first pay principal
sequentially to the senior LIBOR notes and then to the senior
auction/variable-rate notes until the senior parity and total
parity levels reach 110.0% and 101.5%, respectively.  The issuer
then may make payments to the subordinate auction/variable-rate
bonds as long as the above thresholds are maintained.  The
transaction can also release to the issuer when total parity is
above 102%.  In addition, the transaction must reprioritize
interest payments from the subordinate bonds to make principal
payments to the senior bonds if the senior parity falls below
100%; it must also allocate the principal payments sequentially if
total parity falls below 101%.

S&P placed its rating on the class B notes from this trust on
CreditWatch with negative implications based on the reported post-
distribution total parity decreasing to 100.94% as of November
2013 from 102.79% as of May 31, 2012.  S&P believes the current
credit enhancement may not be commensurate with the class B notes'
current 'B (sf)' rating and that, in certain scenarios, this class
could be subject to a breach of its interest reprioritization
trigger.

In addition, the rating on the class A-2 notes remains on
CreditWatch negative, where S&P had placed it on July 8, 2013.
The CreditWatch listing reflects the significant decrease in
available credit enhancement since S&P's last rating action on
June 2012, when it affirmed the 'AAA (sf)' rating.  At that time,
S&P expected senior parity to continue to increase as long as the
issuer allocated payments sequentially, which it had historically.

However, between August 2012 and May 2013, the issuer elected to
pay down the class B notes.  As a result, the senior parity
declined to 117.29% as of the quarter ended November 2013,
compared with 127.84% for the quarter ended May 2012.  After May
2013, the transaction reverted back to paying down the class A
notes.

S&P expects to resolve the CreditWatch placements within the next
90 days.  Upon the conclusion of further analysis, S&P will then
take any further rating actions it considers appropriate.

RATINGS PLACED ON CREDITWATCH NEGATIVE

Access Group Inc.
Floating-rate student loan asset-backed notes series 2001

                                      Rating
Class                  To                        From
II-B                   B+ (sf)/Watch Neg         B+ (sf)

Access Group Inc.
Private student loan asset-backed notes series 2002-A

                                      Rating
Class                  To                       From
B                      B (sf)/Watch Neg         B (sf)

RATING REMAINING ON CREDITWATCH

Access Group Inc.
Private student loan asset-backed notes series 2002-A

Class                      Rating
A-2                        AAA (sf)/Watch Neg


ALTERRUS SYSTEMS: Files for Bankruptcy under BIA
------------------------------------------------
The Board of Directors of Alterrus Systems Inc. has made an
assignment of the Company pursuant to the Bankruptcy and
Insolvency Act.  This has been necessitated by both operational
and financial matters facing the Company.

Headquartered in Vancouver, Canada, Alterrus Systems Inc. --
http://www.alterrus.ca/-- engages in the development,
manufacturing and integration of proprietary vertical farming
systems for global markets.


AMERICAN PETROLEUM: S&P Withdraws 'B' CCR Over Kinder Morgan Deal
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew its
ratings on American Petroleum Tankers Parent LLC, including the
'B' corporate credit rating and 'BB-' issue-level rating on the
senior secured term loan.

"The rating withdrawals follow the completion of the sale of APT
to Kinder Morgan Energy Partners L.P., as previously announced,
and the repayment of APT's outstanding debt," said Standard &
Poor's credit analyst Lisa Jenkins.


AMTRUST FINANCIAL: DC Court Rejects Motion to Quash as Moot
-----------------------------------------------------------
The Federal Deposit Insurance Corporation, as Receiver of AmTrust
Bank, is involved in claims litigation with the debtors, AmFin
Financial Corporation and several of its affiliates, in the United
States Bankruptcy Court for the Northern District of Ohio.  In
connection with that litigation, on Sept. 25, 2013, the debtors
served a subpoena on Ms. Sonya Levine, in-house counsel for the
FDIC, commanding her to appear for a deposition in Washington D.C.
on Oct. 1, 2013.

On Sept. 30, 2013, one day prior to the scheduled deposition, the
FDIC filed a motion for entry of an order quashing the subpoena
or, in the alternative, for a protective order, with the U.S.
Bankruptcy Court for the District of Columbia, before Bankruptcy
Judge S. Martin Teel, Jr.  The FDIC's motion argued that it is
impermissible for the debtors to depose Ms. Levine because she is
opposing counsel, that the information sought from Ms. Levine is
subject to the attorney-client privilege, and that the deposition
is being pursued for purposes of retaliation and harassment.

On that same date, the court held an emergency hearing, at which
time the FDIC made an oral motion to stay the deposition pending
the court's disposition of the motion to quash and for a
protective order.  At the hearing, Judge Teel expressed the view
that the FDIC's motion appears to set forth serious grounds that
are worthy of consideration before Ms. Levine ought to be required
to appear for deposition, and granted the motion to stay.

Accordingly, on Oct. 1, 2013, the court entered an order that
provided, in pertinent part, as follows:

     1. The Stay Motion is granted.

     2. The Debtors' objections to the Stay Motion are overruled.

     3. The Deposition of Ms. Sonya Levine is stayed pending this
        Court's consideration and adjudication of the Motion to
        Quash.

     4. Ms. Sonya Levine shall not be required to appear for
        Deposition or otherwise respond to the Subpoena unless
        and until further Court order.

On Oct. 15, 2013, a little more than two weeks after the FDIC
filed its motion to quash, the debtors filed a notice of
withdrawal of the subpoena.  On that same date, the debtors filed
an opposition to the FDIC's motion to quash, arguing that the
motion was rendered moot by the withdrawal of the subpoena. The
FDIC argues that the motion is not moot because the debtors still
intend to pursue Ms. Levine's deposition, albeit in a different
jurisdiction.  Rather than deny this allegation, the debtors
continue to argue that Ms. Levine has information crucial to the
debtors' presentation of their case, but that any dispute over
discovery should play out in the Northern District of Ohio.

According to Judge Teel, the withdrawal of the subpoena rendered
the motion to quash moot.  Judge Teel, hence, said the Defendant's
Motion to Dismiss is granted and the Motion to Quash is moot.

"Simply put, there is nothing left for this court to quash," Judge
Teel said.

The case before Judge Teel is, FEDERAL DEPOSIT INSURANCE
CORPORATION, Movant, v. AMFIN FINANCIAL CORPORATION, et al.,
Respondents, Misc. No. 13-20005 (Bankr. D.D.C.).  A copy of Judge
Teel's Jan. 14, 2014 Memorandum Decision is available at
http://is.gd/NQ35Qrfrom Leagle.com.

                     About AmTrust Financial

AmTrust Financial Corp. was the owner of the AmTrust Bank.
AmTrust was the seventh-largest holder of deposits in South
Florida, with $4.7 billion in deposits and 21 branches.

In November 2008, the Office of Thrift Supervision issued a cease
and desist order requiring AmTrust to improve its capital ratios.

AmTrust Financial, together with affiliates that include AmTrust
Management Inc., filed for Chapter 11 bankruptcy protection
(Bankr. N.D. Ohio Case No. 09-21323) on Nov. 30, 2009.  The debtor
subsidiaries include AmFin Real Estate Investments, Inc., formerly
AmTrust Real Estate Investments, Inc. (Case No. 09-21328).

G. Christopher Meyer, Esq., Christine M. Piepont, Esq., and Sherri
L. Dahl, Esq., at Squire Sanders & Dempsey (US) LLP, in Cleveland,
Ohio; and Stephen D. Lerner, Esq., at Squire Sanders & Dempsey
(US) LLP, in Cincinnati, Ohio, served as counsel to the Debtors.
Kurtzman Carson Consultants served as claims and notice agent.
Attorneys at Hahn Loeser & Parks LLP serve as counsel to the
Official Committee of Unsecured Creditors.  AmTrust Management
estimated $100 million to $500 million in assets and debts in its
Chapter 11 petition.

AmTrust Bank was not part of the Chapter 11 filings.  On Dec. 4,
2009, AmTrust Bank was closed by regulators and the Federal
Deposit Insurance Corporation was named receiver.  New York
Community Bank, in Westbury, New York, assumed all of the deposits
of AmTrust Bank pursuant to a deal with the FDIC.

AmTrust, nka AmFin Financial Corp., obtained confirmation of its
Amended Joint Plan of Reorganization on Nov. 3, 2011.  The plan
was declared effective in December 2011.


ARCHDIOCESE OF MILWAUKEE: Poised to File Reorganization Plan
------------------------------------------------------------
The Archdiocese of Milwaukee is poised to file a restructuring
plan that will detail how it will pay off claims filed by alleged
victims of clergy sex abuse, news sources have reported.

Archdiocese spokesman Jerry Topczewski said the restructuring
plan will include a therapy fund for all victims of clergy sex
abuse, the Associated Press reported.  He said the victims will
have access to therapy for as long as they need it, according to
the AP.  Mr. Topczewski said the archdiocese looks forward to
having the legal matters resolved so it can return to its focus
on charity and service, the news agency reported.

It is not immediately clear when the diocese's restructuring plan
will be filed in U.S. Bankruptcy Court in Milwaukee.

While the reorganization plan is a significant step toward
exiting bankruptcy protection, legal scholars suggest that exit
could still be a long way off, according to a report by the
Milwaukee Journal Sentinel.

"This is not the end game.  There will be multiple objections on
multiple bases," the Sentinel quoted Pamela Foohey, a professor
at the University of Illinois College of Law in Champaign, as
saying.

                     Who Will be Compensated?

It remains unclear about what assets the archdiocese is proposing
to pay for the reorganization plan, the Sentinel said.

Since it filed for bankruptcy protection, the archdiocese has
sold no significant property to help pay for a settlement.
Moreover, it has successfully blocked creditors' efforts to place
any church assets, such as parish properties or the $55 million
cemetery trust fund, into the estate to finance the
reorganization plan, the Sentinel reported.

Whether the archdiocese should have to tap its cemetery trust is
on appeal before the 7th U.S. Circuit Court of Appeals.  U.S.
Bankruptcy Judge Susan Kelley had ruled that forcing the
archdiocese to use some of that money would not constitute a
substantial burden on its free expression of religion.  Her
ruling was overturned at the district court level.

Other legal battles have been postponed, including those over the
archdiocese's Cousins Center headquarters complex and what could
be up to $105 million in what's known as the Faith in Our Future
trust, according to the report.

It is also not clear who will be compensated under the plan and
at what level.

The sex abuse victims, as unsecured creditors, have the least
priority.  In addition to victims, there are other creditors
ranging from small businesses owed as little as $130 to the
archdiocese's own employee pension funds, which have claims
totaling almost $56 million, the Sentinel reported.

Among creditors, some classes will be paid before others and the
victims rank behind both secured and priority creditors.

First in line after the administrative fees -- those of the
archdiocese's and creditors committee lawyers, forensic
accountants and others -- comes secured creditors, such as banks
holding mortgages on archdiocesan property, which hold about $5.7
million in claims.

Secured creditors are followed by priority creditors, including
the archdiocese's pension funds, which hold about $96.6 million
in claims.

According to Jonathan Lipson, a bankruptcy professor at Temple
University's Beasley School of Law, the archdiocese of Milwaukee
"has been far more aggressive, far more litigious" than any other
diocese he has observed.

"They would rather pay their lawyers than pay claimants," the
Sentinel quoted Mr. Lipson as saying.

The Milwaukee bankruptcy, filed by Archbishop Jerome Listecki in
January 2011, came after the archdiocese had been largely
successful in fighting lawsuits dating back at least to the
1950s.

With 575 sex abuse claims and legal fees topping $11 million, it
is one of the largest and most contentious bankruptcies filed by
Catholic dioceses around the country, according to observers and
lawyers who've worked on those cases.

                  About Archdiocese of Milwaukee

The Diocese of Milwaukee was established on Nov. 28, 1843, and
was elevated to an Archdiocese on Feb. 12, 1875, by Pope Pius
IX.  The region served by the Archdiocese consists of 4,758 square
miles in southeast Wisconsin which includes counties Dodge, Fond
du Lac, Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth,
Washington and Waukesha.  There are 657,519 registered Catholics
in the Region.

The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Wis. Case No.
11-20059) on Jan. 4, 2011, to address claims over sexual abuse
by priests on minors.

The Archdiocese became at least the eighth Roman Catholic diocese
in the U.S. to file for bankruptcy to settle claims from current
and former parishioners who say they were sexually molested by
priests.

Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in
Milwaukee, Wisconsin, serves as the Archdiocese's counsel.  The
Official Committee of Unsecured Creditors in the bankruptcy case
has retained Pachulski Stang Ziehl & Jones LLP as its counsel, and
Howard, Solochek & Weber, S.C., as its local counsel.

The Archdiocese estimated assets and debts of $10 million to
$50 million in its Chapter 11 petition.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


ASPEN SIERRA: Case Summary & 5 Unsecured Creditors
--------------------------------------------------
Debtor: Aspen Sierra Leasing Company
           aka Arrocreek Country Club
        2905 Arrowcrek Pkwy
        Reno, NV 89511

Case No.: 14-50087

Chapter 11 Petition Date: January 21, 2014

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Judge: Hon. Bruce T. Beesley

Debtor's Counsel: Stephen R Harris, Esq.
                  HARRIS LAW PRACTICE LLC
                  6151 Lakeside Dr, Ste 2100
                  Reno, NV 89511
                  Tel: (775) 786-7600
                  Fax: (775) 786-7764
                  Email: steve@harrislawreno.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Charles Leider, president.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/nvb14-50087.pdf


BANK OF THE CAROLINAS: Megan Patton Elected SVP and CFO
-------------------------------------------------------
The boards of directors of Bank of the Carolinas Corporation and
its wholly owned subsidiary, Bank of the Carolinas, elected Megan
W. Patton as senior vice president and chief financial officer of
the Company and the Bank.

Per the bylaws of the Company and the Bank, Ms. Patton will hold
these positions until her resignation, retirement, removal, death,
or disqualification, or until the election and qualification of
her successor.  Ms. Patton, age 32, has been employed by the Bank
since June 2008 and has served as an internal auditor, controller,
and vice president.

                    About Bank of the Carolinas

Mocksville, North Carolina-based Bank of the Carolinas Corporation
was formed in 2006 to serve as a holding company for Bank of the
Carolinas.  The Bank's primary market area is in the Piedmont
region of North Carolina.

Bank of the Carolinas disclosed a net loss available to common
stockholders of $5.53 million in 2012, a net loss available to
common stockholders of $29.18 million in 2011 and a net loss
available to common stockholders of $3.56 million in 2010.

The Company's balance sheet at Sept. 30, 2013, showed $427.92
million in total assets, $421.70 million in total liabilities and
$6.22 million in total stockholders' equity.

Turlington and Company, LLP, in Lexington, North Carolina, 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 credit
losses that have eroded certain regulatory capital ratios.  As of
Dec. 31, 2012, the Company is considered undercapitalized based on
their regulatory capital level.  This raises substantial doubt
about the Company's ability to continue as a going concern.


BELLE FOODS: Court Refuses to Approve Committee & Lenders' Deal
---------------------------------------------------------------
Judge Jack Caddell of the U.S. Bankruptcy Court for the Northern
District of Alabama, Northern Division, disapproved a settlement
between the Official Committee of Unsecured Creditors appointed in
the Chapter 11 case of Belle Foods, LLC, and its lenders --
Southern Family Markets, LLC, C&S Wholesale Grocers, Inc., and
certain affiliates of SFM and/or C&S.

According to the parties, the settlement agreement provides for
various benefits to unsecured creditors, consisting principally of
a trust to be established for the benefit of general unsecured
creditors funded by the lenders in an amount of $1.5 million to be
used to make distributions to creditors and to prosecute certain
causes of action, the fruits of which may further enhance
recoveries to creditors.

The settlement was met with objections from various parties
including the Debtor, which complained that the settlement is an
improper sub rosa plan because, among other things, it dictates
the distribution of the Debtor's estate without following the
requirements of confirmation of a plan.  The Debtor also
complained that the settlement agreement circumvents the priority
scheme established by the Bankruptcy Code.  J. Thomas Corbett, the
Bankruptcy Administrator for the Northern District of Alabama,
also complained that the settlement does not comply with the
Bankruptcy Code's statutory priority scheme and provides payment
of Section 509(b)(9) claims ahead of administrative expense claims
and other higher priorities under Section 509 such as tax and wage
claims.

Under the settlement agreement, upon the payment of $1.5 million
into the GUC Trust, all claims and challenges that the Debtor's
estate may have against the Lenders will be released.  However,
the Debtor noted, under the terms for the distribution of the GUC
Assets, the Lenders could be paid back all of the money that they
paid into the GUC Trust.  The Lenders will receive the first
$200,000 recovered from the GUC Causes of Action and 90% of any
amounts recovered over $3,200,000.  The Debtor further noted that
as a result, the Lenders could be made completely whole regarding
these amounts, while still being released from the claims and
challenges against them.

The Bankruptcy Administrator added that by declaring that payments
made by the GUC Trust "shall not be deemed to be distributions
from the Debtor's estate" and to cap the quarterly fees required
to be paid pursuant to 28 U.S.C. Section 1930(a)(6) at the minimum
amount, the parties to the settlement are seeking to have the
benefits and protections of a Chapter 11 bankruptcy case while
avioding the administrative fees imposed by Congress for the
privilege.  That attempt to evade the payment of administrative
fees is contrary to the plain language of the Bankruptcy Code and
is due to be denied, the Bankruptcy Administrator asserted.

Green Springs, Ltd., former landlord and holder of an
administrative expense claim and general unsecured claim, objected
that the motion contained insufficient information to evaluate the
settlement, especially information on the GUC Causes of Action
other than that they are avoidance claims.

In response to the objections, the Committee and the Lenders
maintained that the settlement agreement is the product of months
of negotiations between the two parties after an extensive
investigation by the Committee with respect to potential claims of
the Debtor's estate against the Lenders.  The Committee said that
any potential litigation recovery against the Lenders would have
taken an extended period of time and been vigorously contested.
Additionally, any litigation commenced by the Committee against
the Lenders would be costly, time consuming and difficult to
pursue given the lack of funding necessary to prosecute the
litigation.  The Committee and the Lenders argued that the
settlement agreement should be approved and the objections should
be overruled.

Judge Caddell disapproved the settlement agreement for reasons
stated in court during the Jan. 21 hearing.

The Debtor is represented by D. Christopher Carson, Esq., Marc P.
Solomon, Esq., Hanna Lahr, Esq., at Burr & Forman LLP, in
Birmingham, Alabama.

Green Springs is represented by Rita H. Dixon, Esq. --
ritadixon@mindspring.com -- at Rita H. Dixon LLC, in Birmingham,
Alabama; and Walter F. Scott, III, Esq. -- WFS3@gallowayscott.com
-- at Galloway, Scott, Moss & Hancock, LLC, in Birmingham,
Alabama.

The Committee is represented by David M. Posner, Esq., and
Gianfranco Finizio, Esq., at OTTERBOURG P.C., in New York; and R.
Scott Williams, Esq., and Jennifer Kimble, Esq., at Rumberger,
Kirk & Caldwell, P.C., in Birmingham, Alabama.

The Lenders are represented by Richard S. Cobb, Esq., Matthew B.
McGuire, Esq., and Jeffrey R. Drobish, Esq., at LANDIS RATH & COBB
LLP, in Wilmington, Delaware.

                        About Belle Foods

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

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

Belle Foods disclosed $64,408,112 in assets and liabilities of
$18,836,157 plus an unknown amount.

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

Attorneys at Haskell Slaughter Young & Rediker, LLC, in
Birmingham, Alabama, and Otterbourg Steindler Houston & Rosen,
P.C., in New York, serve as co-counsel to the Official Committee
of Unsecured Creditors.


BISHOP OF STOCKTON: Blames Sexual Abuse Claims for Bankruptcy
-------------------------------------------------------------
According to Douglas Adel, the chief financial officer of The
Roman Catholic Bishop of Stockton ("RCB"), a tragedy that runs
contrary to every teaching and tradition of the Church has
unfolded in the Church as a whole and in the RCB in particular: a
small number of clergy and others took advantage of their
positions of trust and respect in the community to abuse children.
Mr. Adel says the Church as a whole, and the RCB in
particular, is committed to providing for all victims/survivors
of Abuse, known and yet to be known, in a fair, just and
equitable manner with the available resources of the RCB.

Prior to 2002, the Diocese had protocols in place to respond to
reports of sexual abuse. Among other things, in 1987, the RCB
established a written policy for its existing policies
and practices to address issues of sexual abuse of minors, which
was revised and updated in 1999 and 2003. In 1999, the RCB
published updated requirements for child abuse prevention and
reporting requirements to clergy, principals and administrators.
The RCB's written policies were updated in 1999 to accompany
requirements prepared by the California Catholic Conference in
October 1998. Under the protocols, victims were offered
assistance in the form of counseling and pastoral assistance.
Such assistance has been provided to victims for up to as long as
20 years. The priest accused of abuse was investigated by the
Diocese, and the Bishop or other representatives of the Diocese
met with the victim. The RCB followed reporting laws.

In the spring of 2002, the U.S. Bishops adopted the Charter for
the Protection of Children and Young People (the "Charter"),
which adopted a "one strike" policy with regard to clergy serving
in any active, public ministry.

Not only has the RCB continuously satisfied the Charter, but it
has taken additional steps not required by the Charter to protect
children from abuse and to provide healing for those who have
been harmed.

                        Road to Chapter 11

Until recently, the RCB has maintained financial viability while
funding compensation for Abuse victims and continued litigation
regarding claims of sexual abuse. In the past 20 years, the RCB
has paid approximately $14 million in legal settlements and
judgments in an effort to fulfill the RCB's responsibility for
abuse of minors by a diocesan priest. This amount does not
include attorneys' fees and other costs paid by the RCB or
contributions from insurance.

There are currently four Abuse lawsuits still pending against the
RCB alleging liability for failure to supervise or prevent
childhood sexual abuse. Of those four cases, three cases are in
the discovery stage, and one case has not yet been served. No
demands have been made in these four cases; however the RCB
expects the initial demands to be between $2 and $6 million for
each case.

"Filing for Chapter 11 bankruptcy protection is the only way the
Diocese of Stockton can continue the ministries and support it
offers to Catholic parishes and communities, and fulfill the
responsibilities it has to victims of sexual abuse, particularly
those who have not yet had their day in court," Bishop Blaire
said in a statement on the diocesan website.

Michael Bathon, substituting for Bill Rochelle, the bankruptcy
columnist for Bloomberg News, pointed out that although the
diocese has the money to continue normal operations, it said it
doesn't have reserve funds to settle pending abuse lawsuits or
new ones that may surface.  Over the past 20 years it has paid
more than $14 million in legal settlements and judgments and a
total of $32 million to molestation victims, including amounts
paid by insurers, Mr. Bathon further pointed out.

Manly, Stewart & Finaldi on Jan. 14 disclosed that on Jan. 13,
2014, a Grand Jury convened by the Calaveras County District
Attorney's Office indicted Diocese of Stockton Priest Fr. Michael
Kelly, on numerous criminal counts related to brutal childhood
sexual abuse in the year 2000 while serving as the Pastor of St.
Andreas Parish in the Diocese of Stockton.

Fr. Kelly absconded to Ireland in 2012, in the middle of a child
molestation trial being prosecuted by this firm on behalf of
another Kelly victim, only days after he was unanimously found by
a jury to have raped and molested the firm's client, a highly
decorated Air Force Officer, when he was in 4th grade at
Annunciation School in Stockton.  Kelly is known to be in
Ireland, but guards his location and has repeatedly taken steps
to avoid service of process.

According to the firm, it is clear that the Diocese is filing
bankruptcy not because it does not have the money to pay a
judgment or settlement in the three cases pending against it, but
rather, to prevent the truth about the complicity of Bishop
Blaire and Monsignor Ryan and other Diocese's members in Kelly's
crimes.

Joelle Casteix, volunteer western regional director of the
Survivors Network of Those Abused by Priests, called the bishop's
bankruptcy declaration "extraordinarily troubling" and "a
convenient, self-serving dodge."  "It's a way to prevent the
truth from coming out about clergy sex abuse and cover-ups, while
shifting the attention away from crimes to cash," she said in a
statement.  "Despite this irresponsible decision," she continued,
"we hope that others who saw, suspected or suffered clergy sex
crimes and cover-ups in Stockton will step forward, call police,
expose wrongdoers and protect kids."

                       Reorganization Case

The RCB is a not-for-profit religious organization with limited
resources, including very limited or no insurance coverage for
the four lawsuits pending against it. The RCB does not seek
chapter 11 relief to dodge responsibility for past misconduct by
clergy. Nor does the RCB seek bankruptcy relief to hide the truth
or to deny victims their day in court.

The RCB acknowledges it has a moral obligation to try to
compensate all Abuse victims fairly. As a result, the RCB cannot
allow any single plaintiff to recover a disproportionate share of
the limited funds available from the RCB simply because that
plaintiff's case proceeds to trial first. Similarly, the RCB
cannot ignore the legally valid claims of the RCB's other
creditors, who stand on equal footing with Abuse plaintiffs as
general unsecured creditors of the RCB.

                         About RCB

The Diocese of Stockton, California (the "Diocese") was
established on February 21, 1962, by Pope John XXIII from
territory formerly located in the Archdiocese of San Francisco
and the Diocese of Sacramento.  The Diocese, comprising the six
counties of San Joaquin, Stanislaus, Calaveras, Tuolumne, Alpine,
and Mono, currently serves approximately 250,000 Catholics in 35
parishes.

As a religious organization, The Roman Catholic Bishop of
Stockton ("RCB") has no significant ongoing for-profit business
activities or business income.  Revenue for the RCB principally
comes from the annual ministry appeal, fees for services provided
to the Non-RCB Entities, donations, grants, and RCB ministry
revenue. The RCB's annual operating budget is approximately $5
million.  The RCB operates on a fiscal year ending June 30.

              Legal Structure of the RCB, Parishes,
                     other Non-RCB Entities

Since its inception in 1962, the RCB has been and continues to be
a California corporation sole. When the Diocese was created,
most, if not all, of the property of the Parishes (excluding the
pre- and/or elementary (K-8) schools) was held in the name of the
RCB. The RCB also held the property for the cemeteries in the
Diocese as well as some of the real property to be used for
future parishes. The Roman Catholic Welfare Corporation of
Stockton (the "RCW") also was created in 1962 as a public benefit
corporation. The RCW held most, if not all, of the property of
the Catholic pre-, elementary (K-8) and high schools in the
Diocese. The RCW is now a California religious corporation.

In December 2002, the Diocese reorganized into its current
structure. The Parishes in existence in December 2002 were each
organized and currently operate as separate corporations sole
pursuant to California corporate law. If a Parish had a pre-
and/or elementary school, that property also was transferred to
the Parish.

In addition to the Parishes, in December 2002, the Diocese
created four new religious corporations: (a) two to operate the
two high schools (St. Mary's High School in Stockton and Central
Catholic High School in Modesto, each a separate religious
corporation); (b) one to operate a retreat center (Madonna of the
Peace Retreat Center in the foothills) ("Retreat Center"); and
(c) one to operate three cemeteries (Catholic Cemeteries of the
Diocese of Stockton) (collectively, the "Non-Parish Entities").
Additionally in December 2002, most of the real property held by
the RCB to be used for future parishes was transferred to the
RCW.

Several other separate and independent Catholic entities operate
within the territory of the Diocese along with the RCW, Parishes
and Non-Parish Entities. Catholic Charities of the Diocese of
Stockton ("Catholic Charities") is a California religious
corporation formed in 1980 to provide assistance to the needy
within the Diocese. SEEDS is a California corporation sole
established in 2004 to provide tuition assistance for students
attending the eleven elementary schools in the Diocese. Church
for Tomorrow is a 501(c)(3) charitable organization created in
2007 to provide assistance for needy churches, develop future
churches, provide tuition and school assistance, and provide
funding for ministries and other programs within the Diocese.
Catholic Charities, SEEDS, Church for Tomorrow, RCW, Parishes and
Non-Parish Entities are hereafter referred to collectively as the
"Non-RCB Entities."

Each of the Non-RCB Entities owns its own property, finances its
own activities, manages its own assets and is responsible for its
own corporate activities. The Non-RCB Entities have not sought
bankruptcy relief and are not debtors in this bankruptcy case.

In December 2002, the Diocese also created the Diocese of
Stockton Revocable Trust ("Revocable Trust") and the Diocese of
Stockton Irrevocable Trust ("Irrevocable Trust").

The Revocable Trust is a pooled investment account in which
restricted and unrestricted funds of the RCB and certain Non-RCB
Entities are held subject to a written trust agreement. The
Irrevocable Trust was created to hold the specific, restricted
gifts, mostly made through bequests, held by the RCB prior to the
December 2002 reorganization and made subsequently.

                          Bankruptcy Case

The Roman Catholic Bishop of Stockton filed a Chapter 11
bankruptcy petition (Bankr. E.D. Cal. Case No. 14-20371) in
Sacramento on Jan. 15, 2014.  Judge Christopher M. Klein oversees
the case.  Attorneys at Felderstein Fitzgerald Willoughby &
Pascuzzi LLP serve as counsel to the Debtor.  The Debtor estimated
assets of $1 million to $10 million and debt of $10 million to
$50 million.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


BISHOP OF STOCKTON: Sec. 341(a) Meeting of Creditors Feb. 21
------------------------------------------------------------
A meeting of creditors pursuant to Section 341(a) of the
Bankruptcy Code will be held on Feb. 21, 2014, at 9:00 a.m., in
the bankruptcy case of the Roman Catholic Bishop of Stockton.

The meeting will be held at the Office of the U.S. Trustee, U.S.
Courthouse, 501 I Street, Room 7-500, in Sacramento, California.

The Debtor's representative must be present at the meeting to be
questioned under oath by the trustee and by creditors. Creditors
are welcome to attend, but are not required to do so.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the U.S. Trustee
appoint a committee of unsecured creditors as soon as
practicable.  The committee ordinarily consists of the persons
willing to serve who hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.

                         About the RCB

The Diocese of Stockton, California (the "Diocese") was
established on February 21, 1962, by Pope John XXIII from
territory formerly located in the Archdiocese of San Francisco
and the Diocese of Sacramento.  The Diocese, comprising the six
counties of San Joaquin, Stanislaus, Calaveras, Tuolumne, Alpine,
and Mono, currently serves approximately 250,000 Catholics in 35
parishes.

As a religious organization, The Roman Catholic Bishop of
Stockton ("RCB") has no significant ongoing for-profit business
activities.  Revenue for the RCB principally comes from the annual
ministry appeal, fees for services provided to non-RCB entities,
donations, grants, and RCB ministry revenue.

When the Diocese was created, most, if not all, of the property of
the Parishes (excluding the pre- and/or elementary (K-8) schools)
was held in the name of the RCB. The RCB also held the property
for the cemeteries in the Diocese as well as some of the real
property to be used for future parishes.

The RCB filed a Chapter 11 bankruptcy petition (Bankr. E.D. Cal.
Case No. 14-20371) in Sacramento on Jan. 15, 2014.  Judge
Christopher M. Klein oversees the case.  Attorneys at Felderstein
Fitzgerald Willoughby & Pascuzzi LLP serve as counsel to the
Debtor.  The Debtor estimated assets of $1 million to $10 million
and debt of $10 million to $50 million.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


BISHOP OF STOCKTON: May 22 Set as Claims Bar Date
-------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California
established May 22, 2014, as the last day for creditors, except
governmental units, to file proofs of claim in the Chapter 11 case
of The Roman Catholic Bishop of Stockton.  Governmental units
have until July 14 to file proofs of claim.

                         About the RCB

The Diocese of Stockton, California (the "Diocese") was
established on February 21, 1962, by Pope John XXIII from
territory formerly located in the Archdiocese of San Francisco
and the Diocese of Sacramento.  The Diocese, comprising the six
counties of San Joaquin, Stanislaus, Calaveras, Tuolumne, Alpine,
and Mono, currently serves approximately 250,000 Catholics in 35
parishes.

As a religious organization, The Roman Catholic Bishop of
Stockton ("RCB") has no significant ongoing for-profit business
activities.  Revenue for the RCB principally comes from the annual
ministry appeal, fees for services provided to non-RCB entities,
donations, grants, and RCB ministry revenue.

When the Diocese was created, most, if not all, of the property of
the Parishes (excluding the pre- and/or elementary (K-8) schools)
was held in the name of the RCB. The RCB also held the property
for the cemeteries in the Diocese as well as some of the real
property to be used for future parishes.

The RCB filed a Chapter 11 bankruptcy petition (Bankr. E.D. Cal.
Case No. 14-20371) in Sacramento on Jan. 15, 2014.  Judge
Christopher M. Klein oversees the case.  Attorneys at Felderstein
Fitzgerald Willoughby & Pascuzzi LLP serve as counsel to the
Debtor.  The Debtor estimated assets of $1 million to $10 million
and debt of $10 million to $50 million.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


BONDS.COM GROUP: Michel Daher Stake at 75.9% as of Jan. 14
----------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Michel Daher and his affiliates disclosed
that as of Jan. 14, 2014, they beneficially owned 767,716 shares
of common stock of Bonds.com Group, Inc., representing 75.9
percent of the shares outstanding.  A copy of the regulatory
filing is available for free at http://is.gd/BpXIXt

                       About Bonds.com Group

Based in Boca Raton, Florida, Bonds.com Group, Inc. (OTC BB: BDCG)
-- http://www.bonds.com/-- through its subsidiary Bonds.com,
Inc., serves institutional fixed income investors by providing a
comprehensive zero subscription fee online trading platform.  The
Company designed the BondStation and BondStationPro platforms to
provide liquidity and competitive pricing to the fragmented Over-
The-Counter Fixed Income marketplace.

The Company differentiates itself by offering through Bonds.com,
Inc., an inventory of more than 35,000 fixed income securities
from more than 175 competing sources.  Asset classes currently
offered on BondStation and BondStationPro, the Company's fixed
income trading platforms, include municipal bonds, corporate
bonds, agency bonds, certificates of deposit, emerging market
debt, structured products and U.S. Treasuries.

Bonds.com Group disclosed a net loss of $6.98 million in 2012, as
compared with a net loss of $14.45 million in 2011.  The Company's
balance sheet at Sept. 30, 2013, showed $6.05 million in total
assets, $4.09 million in total liabilities and $1.95 million in
total stockholders' equity.

EisnerAmper LLP, in New york, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012, citing recurring losses and negative
cash flows from operations, and a working capital deficiency and a
stockholders' deficiency that raise substantial doubt about its
ability to continue as a going concern.


BRONX 439: Flaum & Assoc. Directed to Disgorge $15,000 in Fees
--------------------------------------------------------------
At the behest of the United States Trustee, Bankruptcy Judge
Martin Glenn directed Flaum & Associates, P.C., to disgorge to
Thomas Hemmerle, the principal of Bronx 439 E. 135th Street D.T.
Building Corp., any and all compensation Mr. Hemmerle paid F&A in
connection with this case.

F&A, by and through its president Neil R. Flaum --
flaumandassociatespc@gmail.com -- filed an affirmation in
opposition.  Hearing on the matter was held Dec. 12, 2013.

The Court held that Mr. Flaum's representation of the Debtor was
incompetent at best, and he failed to provide services to the
Debtor with any reasonable value.  Mr. Flaum also failed to obtain
an order from the Court approving his retention.  F&A is directed
to return the entire $15,000 payment it received in connection
with this case.

Over the course of this case, Mr. Flaum filed six versions of a
disclosure statement and plan and was unable to obtain an order
approving any of them for solicitation to creditors.  On Feb. 22,
2012, after Mr. Flaum's first two failed efforts to get a
disclosure statement approved, New York Community Bank, the holder
of a security interest in the Debtor's property, filed a motion to
dismiss the Debtor's case or convert it to a chapter 7 case.

At a hearing on July 9, 2013, the Court indicated on the record
that it would grant the NYCB Motion, but adjourned the motion to
give the U.S. Trustee time to consider whether to recommend
dismissal or conversion of the case.

Also at the July 9 Hearing, the Court authorized the U.S. Trustee
to conduct discovery, including taking the deposition of Mr.
Hemmerle. Among other things, the purpose of the discovery was to
obtain information regarding $35,000 in payments Mr. Hemmerle had
purportedly made to professionals during the bankruptcy
proceedings without permission of the Court, which were disclosed
in the Fourth and Fifth Amended Disclosure Statements.

On Aug. 12, 2013, the U.S. Trustee conducted a deposition of the
Debtor, appearing through Mr. Hemmerle.  During the deposition,
Mr. Hemmerle testified that he understood that the Debtor was
retaining F&A for a flat fee of $15,000 to handle the chapter 11
case, and not on an hourly rate basis.  As to postpetition
payments to professionals, Mr. Hemmerle explained that he
personally made payments on behalf of the Debtor to accountants
and other law firms for services separate from the bankruptcy
proceeding, to establish that he was providing "new value" to the
Debtor.  As to the $35,000 figure listed in the Fourth and Fifth
Amended Disclosure Statements, Mr. Hemmerle stated he estimated
that number, and it was an arbitrary figure.  Finally, as to a
Letter of Intent that was supposed to be attached to the Fifth
Amended Disclosure Statement (but was not), Mr. Hemmerle testified
that there was no Letter of Intent when Mr. Flaum filed the
statement.  He also testified that he never saw the black-lined
version of the Fifth Disclosure Statement submitted to the Court
-- even though his "/s/" e-signature was affixed at the end.

Based on the Hemmerle deposition and prior proceedings in this
case, the U.S. Trustee filed the Motion, seeking disgorgement of
all funds paid to F&A in connection with representation of the
Debtor.  The Court heard oral argument on Dec. 12, 2013. Also on
that date, the Court granted the NYCB Motion, and on Dec. 20,
2013, an Order was entered dismissing the chapter 11 case.

A copy of the Court's Jan. 17, 2014 Memorandum Opinion and Order
is available at http://is.gd/2inxvNfrom Leagle.com.

Bronx 439 E. 135th Street D.T. Building Corporation filed for
Chapter 11 bankruptcy (Bankr. S.D.N.Y. Case No. 11-15855) on
Dec. 23, 2011, estimating under $1 million in both assets and
liabilities.  A copy of the petition is available at
http://bankrupt.com/misc/nysb11-15855.pdf Neil R. Flaum, Esq., at
Flaum & Associates, P.C., served as the Debtor's counsel.

The Debtor owns a residential rental building located at 439 East
135th Street, Bronx, New York.  The case is a single-asset real
estate case.

No trustee or examiner was appointed. The Debtor continued to
operate its business and manage its property as a debtor in
possession pursuant to sections 1107(a) and 1108 of the Bankruptcy
Code.


CALIBRE ACADEMY: Fitch Affirms 'B' Rating on Refunding Bonds
------------------------------------------------------------
Fitch Ratings has affirmed the 'B' rating on the Industrial
Development Authority of the County of Pima's education revenue
refunding bonds (Carden Traditional Schools project) series 2012.

Fitch removes the Rating Watch Negative and assigns the bonds a
Negative Outlook.

Absolute and unconditional obligation of the borrower (Calibre, or
CTS) and the guarantor (E-Institute Charter School, Inc. or EICS),
payable from all legally available revenues, and secured by a
first lien on facilities owned by the borrower.  Gross revenues of
both the borrower and guarantor will flow directly from the state
treasurer to the trustee for debt service.

NEGATIVE OUTLOOK: Removal of the Rating Watch Negative reflects
Calibre's compliance with the debt service coverage requirement in
fiscal 2013 and lack of immediate concerns of covenant violations.
The Negative Outlook reflects Calibre's deteriorated financial
position and expectation that the institution's going concern
status will be resolved upon the receipt of the fiscal 2014 audit,
in December of this year.  Meanwhile, Fitch is concerned about the
school's declining margins both on an individual and consolidated
(with EICS) basis and potential challenges in meeting coverage
requirements for escalating debt service (DS).

SPECULATIVE-GRADE CHARACTERISTICS: The 'B' rating reflects
Calibre's extremely tenuous financial position which includes a
high debt burden, expense growth historically outpacing revenues,
lower than anticipated enrollment levels and coverage of DS only
with substantial, albeit planned, EICS support.

ENROLLMENT SHORTFALL: Actual enrollment at Calibre and EICS'
campuses is significantly below the school's base case
projections.  Fitch notes that initial headcount projections were
aggressive; however, Calibre's ability to adjust expenditures for
a lower headcount could alleviate operating pressure and possibly
stabilize performance.

MANAGEMENT RESPONSIVENESS TO IMPROVE: Calibre's previous CFO left
the institution in spring of 2013 and was replaced in August 2013.
This gap in the position caused marked challenges in procuring
information during previous reviews.  While communication with the
school has increased marginally with the new CFO, Fitch expects
Calibre's future responsiveness levels to improve enough to be
comparable with other rated schools in the portfolio.

FAILURE OF FY2014 COVERAGE TEST: The inability to meet the
transaction maximum annual debt service (TMADS) coverage test of
one times (x) for the combined entity (Calibre and EICS) in fiscal
2014 may constitute an event of default.  Fitch may downgrade the
bonds in this case to reflect the increased volatility due to
remedies that include an accelerated timeline for bond redemption.

PROTRACTED FISCAL IMBALANCE: A persistent negative trend for
Calibre operating margins resulting in the continuance of a going
concern note from the auditor for another year, in Fitch's view,
indicates an intrinsic lack of fiscal stability and would likely
result in ratings pressure.

RELIANCE ON EICS PERFORMANCE: Improvement for EICS operations is
essential to the current rating assuming Calibre's continued weak
margins.  However, consolidated improvement can only be
effectuated by EICS operations equating to or eclipsing the
relative size of Calibre's student enrollment.

STANDARD CHARTER RENEWAL RISK: Like all Fitch-rated charter
schools, Calibre and EICS are subject to charter renewal risk,
which Fitch views as a substantial credit concern.  Also, balance
sheet resources are very limited, providing virtually no offset in
the event of continued financial volatility.

Calibre serves grades K-8 and includes two campuses, one in
Glendale and another in Surprise, AZ.  EICS, the financial
guarantor for the rated debt of CA, maintains six physical
campuses.  The financial statements and charter agreements for
both schools each include a fully-online campus managed by the
schools' education management organization (EMO), Learning Matters
Educational Group, Inc. (LMEG).  Both Calibre and EICS are
authorized by Arizona State Board for Charter Schools (ASBCS, the
authorizer) with 15-year terms that expire in 2015.  LMEG serves
as EMO for both schools and maintains a working relationship with
the ASBCS.

Fitch previously noted that Calibre's credit profile is indicative
of a low speculative grade rating.  Fitch removes Calibre from a
Rating Watch Negative as the school posted TMADS coverage of over
1x in fiscal 2013 complying with a DS coverage covenant requiring
at least 1x coverage of DS.  The Negative Outlook reflects Fitch's
longer term concern that Calibre and EICS as a consolidated entity
continue to post weak results and could encounter problems in
achieving DS coverage specified under bond covenants, especially
considering the escalating schedule of DS.

The covenant compares combined net income available for debt
service of Calibre and EICS to maximum annual debt service,
excluding the final year of maturity TMADS.  Coverage below 1.0x
could be declared an event of default under terms of the loan
agreement by the trustee.  The trustee's remedies for events of
default include acceleration, receivership, foreclosure, or a suit
for judgment.  While the declaration is subject to certain loan
agreement provisions allowing Calibre and EICS to develop a remedy
plan within specified timeframes, in the event of acceleration,
Fitch views Calibre and EICS as highly unlikely to be able to meet
full and immediate payment on the bonds without defaulting.

Calibre and EICS enrolled fewer students in fall of 2013 than
originally projected when the bonds were issued.  While average
daily membership (ADM) improved from 752 to 820 for Calibre and
557 to 698 for EICS, the original fall 2013 expectations of 1,050
and 895 for Calibre and EICS, respectively, grossly overshot
actual enrollment trends.  Originally, Fitch noted strong
waitlists for Calibre and EICS.  However, fall 2013 information
relating to waitlists did not record such pent up demand.
Therefore, the foregoing expectation for both Calibre and EICS is
incremental enrollment growth but this information cannot be
verified as no waitlist information was provided for fall 2013
enrollment.

Fitch favorably notes that academic performance for both Calibre
campuses are adequate and are comparable to peers.  Additionally,
EICS was able to re-classify all of its campuses as alternative,
thereby reducing the benchmarks used to evaluate performance and
more accurately reflect its at-risk population.  Calibre and EICS
were noted as generally meeting academic requirements by the
Arizona State Board for Charter Schools (ASBCS, the authorizer).

Consolidated fiscal 2013 margins declined to 6.3% from 7.4% in
fiscal 2012.  While EICS' individual performance improved
markedly, from 3.8% to 15.3%, Calibre generated a negative 24.8%
margin, further weakened from fiscal 2012's 18.5% margin.  Fitch
notes that Calibre's expense growth has outpaced revenue increases
for the past two years.  Unless there is a reversal of this trend,
financial wherewithal and debt service coverage will continue to
hinge substantially on EICS for the long term.

During fiscal 2013, LMEG, as the management company (EMO)
implemented several measures to align expenses with revenues
including salary freezes, layoffs, and various downward
adjustments to facility and technology-related costs.  Fiscal 2013
results are not indicative of overall improvement as these
improvements were enacted mid-year and Fitch expects these changes
may be evidenced in fiscal 2014 results.  FY2014 budgeted figures
indicate revenue growth based on enrollment and stable state
funding.  Fitch, acknowledging the auditor's expressed concern
about Calibre's ongoing viability in both the fiscal 2012 and 2013
audit, expects rating pressure if this concern is unmitigated for
the fiscal 2014.

Available funds for Calibre and EICS, on a consolidated basis,
covered just 12.2% and 7.2% of operating expenses and debt,
respectively.  While improved from fiscal 2012, these levels
remain very light, which is typical of most charter schools
reviewed by Fitch.

Combined TMADS coverage (EICS and Calibre) improved from a very
weak 0.3x to 0.9x in fiscal 2013.  Adjusting for management fees
which are subordinate to DS payment, coverage improved to 1.8x in
fiscal 2013, up from 1.4x in 2012.  Notwithstanding this
improvement, Calibre, individually can only support roughly one-
third of required TMADS and is expected to remain at this level
for the foreseeable future.  Fitch notes positively that EICS, as
the guarantor of the bonds, will continue to support Calibre
operations until the bonds are entirely paid off.


CASAIC OFFSET: Property to Be Auctioned Off Jan. 27
---------------------------------------------------
John W. Luster, Trustee of the bankruptcy estate of Casaic Offset
& Silkscreen, Inc., is selling property of the debtor at a public
auction, free and clear of liens.

The property consists of Lots 25, 26, 27, 28, 29 and 30, Block F,
of South Side Park Subdivision, located in the Parish of Caddo,
State of Louisiana.

The public auction will be held at the United States Bankruptcy
Court, 300 Fannin Street, 4th Floor, Courtroom 4, Shreveport,
Louisiana, on Jan. 27, 2014, at 10:00 a.m.

The Caddo Parish Assessor has valued the property at $129,700.
The minimum bid on the immovable property will be $86,466, or 2/3
of the value.

The public auction sale will be made free and clear of all liens
and encumbrances, referring liens to the proceeds, subject to the
necessary costs of preserving and disposing of said estate
property.  Any lienholder may bid its claim pursuant to 11 U.S.C.
Sec. 363(k), subject to paying a cash sum sufficient to pay prior
liens.

Last month, the bankruptcy trustee scheduled a public auction for
Lots 1, 2, 3, 4, 5 & 6, Block F, South Side Park Subdivision.
According to a notice of the Dec. 9 auction, the property was
valued in the schedules at $450,000 and the minimum bid on the
immovable property was $300,000.

The bankruptcy trustee may be reached at:

         JOHN W. LUSTER, Esq.
         1120 Williams Avenue
         Post Office Box 488
         Natchitoches, LA 71458-0488
         Telephone: 318-352-3602
         Facsimile: 318-352-3608
         E-mail: luster_j@bellsouth.net

Based in Shreveport, Louisiana, Casaic Offset & Silkscreen, Inc.,
filed a Chapter 11 petition (Bankr. W.D. La. Case No. 11-10295) on
Feb. 8, 2011.  The Debtor operates a commercial printing facility
in Shreveport, Louisiana.  Judge Stephen V. Callaway presides over
the case.  John S. Hodge, Esq., at Wiener, Weiss & Madison, serves
as the Debtor's counsel.  The Debtor estimated under $50,000 in
assets and $1 million to $10 million in debts.  The petition was
signed by Richard G. Connell, president.

In February 2012, the Bankruptcy Court confirmed the Plan of
Reorganization proposed by Casaic Offset.

According to reporting by the Troubled Company Reporter, this is
the Debtor's second bankruptcy filing since 2006.  Casaic also
filed a Chapter 11 petition (Bankr. W.D. La. Case No. 06-10335) on
March 10, 2006.  Richard J. Reynolds, Esq., at Shuey Smith LLC,
served as counsel in the 2006 case.  Casaic estimated $1 million
to $10 million in assets and debts in the 2006 petition.


CITIZENS DEVELOPMENT: Seeks Approval to Use LSM's Cash Collateral
-----------------------------------------------------------------
Citizens Development Corp. entered into an agreement, which
authorizes its use of LSM Lender LLC's cash collateral.

The agreement also authorizes Citizens Development to make monthly
payment of $20,562 to LSM as adequate protection, and prohibits
the foreclosure of its property through March 31, 2014.  A copy of
the agreement can be accessed for free at http://is.gd/ZbEEkd

                    About Citizens Development

San Marcos, California-based Citizens Development Corp., owns and
operates the Lake San Marcos Resort and Country Club located in
San Diego County.  The Company filed a voluntary petition for
relief under Chapter 11 (Bankr. S.D. Cal. Case No. 10-15142) on
August 26, 2010.  Ron Bender, Esq., and Krikor Meshefejian, Esq.,
at Levene, Neale, Bender, Yoo & Brill LLP, represent the Debtor.
The Debtor estimated its assets and debts at $10 million to
$50 million.

Chapter 11 petitions were also filed by affiliates LSM Executive
Course, LLC (Bankr. S.D. Cal. Case No. 10-07480), and LSM Hotel,
LLC (Bankr. S.D. Cal. Case No. 10-13024).

A bankruptcy-exit plan filed in the case provides that funding for
the Plan will initially come from a new value contribution in the
amount of up to $375,000 to be made to the Reorganized Debtor by
LDG Golf Marketing, LLC, Telesis' cash collateral in the amount of
$50,000 allocated to the payment of allowed administrative
expenses pursuant to the Telesis Settlement, and the Debtor's
additional cash on hand which is estimated to be $50,000, which
collectively equates to up to $475,000.

Tiffany L. Carroll, Acting U.S. Trustee for Region 15, was unable
to appoint an official committee of unsecured creditors in the
Chapter 11 case of Citizens Development Corp.


CITIZENS DEVELOPMENT: Ally Financial Opposes Plan Confirmation
--------------------------------------------------------------
Ally Financial Inc. is asking U.S. Bankruptcy Judge Laura Taylor
to deny the plan proposed by Citizens Development Corp. to exit
bankruptcy protection.

Ally Financial, a secured creditor of the company, questioned a
provision of the plan that proposes to not pay the "post-petition
interest" on its claim.

"In order to confirm the plan over secured creditor's objection,
the plan must provide for secured creditor to receive post-
petition interest on its claim," said its lawyer, Toriana Holmes,
Esq., at Severson & Werson P.C., in San Francisco, California.

As of Jan. 13, 2014, Ally Financial has a secured claim in the
amount of $4,561 against the company.

Judge Taylor is set to hold a hearing on Feb. 27 to consider
approval of the proposed restructuring plan.  Objections to the
plan are due by Jan. 31.

The bankruptcy judge on Dec. 20, 2013, approved the outline of the
plan or the so-called disclosure statement.

According to the disclosure statement, the plan will be funded by
LSM Lender LLC, which has agreed to provide up to $2.5 million in
additional financing.  The funding will also come from a new value
contribution in the amount of $400,000 to be made to the
reorganized company by Atlantica; from Citizens Development's cash
on hand which is estimated to be about $25,000; from revenue
generated from its business operations and other sources.

Under the Plan:

    * LSM Lender's secured claim in the amount of $7.81 million
will be repaid.  The claim, including the $2.5 million loan, will
be secured by a "first priority lien" on all assets of Citizens
Development subsequent to substantive consolidation.

    * General unsecured creditors will receive a pro rata
distribution of cash totaling 10% of the amount of their claims,
with the total distribution of cash to all creditors collectively
not to exceed $100,000.

    * The company's equity holders won't receive payments or
retain any property.  All of the existing equity interests in
Citizens Development will be deemed cancelled when the company
officially exits bankruptcy.

A full-text copy of the Disclosure Statement is available for free
at http://is.gd/Ak0Zmn

                    About Citizens Development

San Marcos, California-based Citizens Development Corp., owns and
operates the Lake San Marcos Resort and Country Club located in
San Diego County.  The Company filed a voluntary petition for
relief under Chapter 11 (Bankr. S.D. Cal. Case No. 10-15142) on
August 26, 2010.  Ron Bender, Esq., and Krikor Meshefejian, Esq.,
at Levene, Neale, Bender, Yoo & Brill LLP, represent the Debtor.
The Debtor estimated its assets and debts at $10 million to
$50 million.

Chapter 11 petitions were also filed by affiliates LSM Executive
Course, LLC (Bankr. S.D. Cal. Case No. 10-07480), and LSM Hotel,
LLC (Bankr. S.D. Cal. Case No. 10-13024).

A bankruptcy-exit plan filed in the case provides that funding for
the Plan will initially come from a new value contribution in the
amount of up to $375,000 to be made to the Reorganized Debtor by
LDG Golf Marketing, LLC, Telesis' cash collateral in the amount of
$50,000 allocated to the payment of allowed administrative
expenses pursuant to the Telesis Settlement, and the Debtor's
additional cash on hand which is estimated to be $50,000, which
collectively equates to up to $475,000.

Tiffany L. Carroll, Acting U.S. Trustee for Region 15, was unable
to appoint an official committee of unsecured creditors in the
Chapter 11 case of Citizens Development Corp.


COLLEGE WAY: Says Lacey Crossroads Worth at Least $26 Million
-------------------------------------------------------------
College Way Commercial Plaza, LLC, defended its request to use
rents from the Lacey Crossroads real property to finance the
bankruptcy at a hearing Jan. 15, before Judge Bryan D. Lynch.

The Debtor requests that interim use of cash collateral be
authorized and the Court schedule further hearing to resolve
ownership issues.  The Debtor also requests the Court to hold an
evidentiary hearing regarding the value of Lacey Crossroads.  The
Debtor estimates that Lacey Crossroads is valued between
$26 million and $29.5 million and is prepared to produce expert
witness.

ECP College Way LLC, which tried to foreclose on the collateral in
December, said the Debtor should not be allowed to use the
lender's cash collateral.  ECP is the holder of certain
indebtedness owed by the Debtor in the original principal amount
of $21.1 million.

The Debtors' Cash Collateral Motion seeks to use the rents from
real property located in Thurston County Washington, commonly
known as Lots 2, 4, 5 and 7-17 Lacey Crossroads on an emergency
basis to pay unidentified administrative expenses, repair and
maintenance expenses, utility expenses, advertising expenses,
taxes and insurance.  The Debtor claims that, absent use of ECP's
cash collateral, "the Debtor will be unable to continue its
business operations."

According to ECP, the problem is that the Debtor does not own the
Property, does not have any business operations and is not
incurring any expenses with respect to the Property.
Approximately six months ago, the Debtor conveyed the Property to
ECP, and ECP has operated and managed the Property since that
time.  ECP owns the Property, and neither the Property nor the
rents therefrom are property of the Debtor or the Debtor's
bankruptcy estate.  Thus, the rents are not cash collateral, and
the Debtor is not entitled to use the rents for any purpose.

But the Debtor said ownership of Lacey Crossroads is not easily
determined without careful review of the law and facts.  There are
many issues and problems associated with ECP's involvement for
transferring legitimate property of the bankruptcy estate.  There
are policy concerns for waiving the statutory right of Deed of
Trust Act.

Bishop, White, Marshall & Weibel, P.S., as successor trustee,
scheduled an auction for Dec. 20, 2013, at 10:00 a.m. at the main
entrance of the Thurston County Courthouse, 2000 Lakeridge Drive
SW, in the City of Olympia located at Thurston County, State of
Washington, to sell real property consisting of Lots 2, 4, 5, 7,
8, 9, 10, 11, 12, 13, 14, 15, 16, and 17 of Lacey Crossroads.

Under a Deed of Trust dated Aug. 21, 2007, the property secures an
obligation in favor of Cascade Bank as beneficiary.  By means of
subsequent successive assignments, the beneficial interest in the
deed of trust is now held by ECP, which became the holder of the
promissory notes secured by the Deed of Trust.  Capital Source
Bank is the holder of a collateral interest in the Deed of Trust
and in the obligations which it secures.  Capital Source Bank and
ECP entered into a written letter agreement dated July 15, 2013,
pursuant to which ECP was authorized to take any and all actions
which it deems necessary to enforce and foreclose the Deed of
Trust.

The promissory note became due and payable on March 5, 2013.

According to papers filed by ECP in bankruptcy court, the
foreclosure sale was scheduled for Jan. 10, 2014, and, as the
result of the Debtor's bankruptcy filing, has been continued.

Attorney for ECP College Way, LLC, is:

         Susan M. Stanley, Esq.
         BISHOP, MARSHALL & WEIBEL, P.S.
         720 Olive Way, Suite 1201
         Seattle, WA 98101
         Tel: (206) 622-5306
         Fax: (206) 622-0354

College Way is represented by:

         Masafumi Iwama, Esq.
         IWAMA LAW FIRM
         333 5th Ave. S.
         Kent, WA 98032
         Telephone: 253-520-7671
         Facsimile: 253-520-7326
         E-mail: matt@iwamalaw.com

Meanwhile, a meeting of creditors under 11 U.S.C. Sec. 341 in the
case was scheduled for Jan. 15.  The Debtor also has been required
to file complete schedules of assets and liabilities, statement of
financial affairs, and Chapter 11 Current Monthly Income Form 22B
by Jan. 14.

            About College Way Commercial Plaza, LLC

College Way Commercial Plaza, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. W.D. Wash Case No. 13-47724) on Dec. 19, 2013.
The petition was signed by Sherwood B Korssjoen as member and
manager.  The Debtor disclosed $29,160,000 in assets and
$21,444,155 in liabilities as of the Chapter 11 filing.  Masafumi
Iwama, Esq., at Iwama Law Firm, serves as the Debtor's counsel.
Judge Brian D Lynch presides over the case.


COMMUNITY HEALTH: S&P Rates $1.7BB Sr. Secured Term Loan 'BB'
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned Franklin, Tenn.-based
hospital operator Community Health Systems Inc.'s proposed
$1.7 billion senior secured term loan E a 'BB' issue-level rating,
with a recovery rating of '1', indicating S&P's expectation for
very high (90% to 100%) recovery of principal in the event of
default.

This incremental term loan is part of the total financing package
the company will use to acquire Naples-based Health Management
Associates (HMA).  The total size of the transaction has only
negligibly changed.  S&P originally assigned ratings to the
proposed debt on Jan. 7, 2014.  New amounts for the proposed
debt are reflected in the ratings list.

RATINGS LIST

Community Health Systems Inc.
Corporate Credit Rating           B+/Negative/--

Ratings Unchanged

Community Health Systems Inc.
$1B revolver                       BB
   Recovery Rating                   1
   $1B senior secured notes         BB
   Recovery Rating                   1
$1B term loan A                    BB
   Recovery Rating                   1
$2.925B term loan D                BB
   Recovery Rating                   1
$3B senior unsecured notes         B-
   Recovery Rating                  6

New Rating

Community Health Systems Inc.
CHS/Community Health Systems Inc.
Senior Secured
  $1.7B term loan E                 BB
   Recovery Rating                  1


COPYTELE INC: Incurs $10.1 Million Net Loss in Fiscal 2013
----------------------------------------------------------
CopyTele, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$10.08 million on $388,850 of total revenue for the year ended
Oct. 31, 2013, as compared with a net loss of $4.25 million on
$940,010 of total revenue during the prior year.

The Company's balance sheet at Oct. 31, 2013, showed $5.43 million
in total assets, $3.21 million in total liabilities, all current,
$548,598 in convertible debentures due January 2015, $5 million in
loan payable by CopyTele International Ltd. to related party, and
a $3.32 million total shareholders' deficiency.

Haskell & White LLP, in Irvine, California, did not issue a "going
concern" qualification on the consolidated financial statements
for the year ended Oct. 31, 2013.

The Company's former accountants, KPMG LLP, in Melville, New York,
expressed substantial doubt about the Company's ability to
continue as a going concern in its report on the consolidated
financial statements for the year ended Oct. 31, 2012.  The former
independent auditors noted that the Company has suffered recurring
losses from operations, has negative working capital, and has a
shareholders' deficiency.

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

                        http://is.gd/xejGIV

                           About CopyTele

Melville, N.Y.-based CopyTele, Inc.'s principal operations include
the development, production and marketing of thin flat display
technologies, including low-voltage phosphor color displays and
low-power passive E-Paper(R) displays, and the development,
production and marketing of multi-functional encryption products
that provide information security for domestic and international
users over several communications media.


CUSTOM CONCRETE: Case Summary & 15 Unsecured Creditors
------------------------------------------------------
Debtor: Custom Concrete, Inc.
        11717 New Kings Road North
        Jacksonville, FL 32219

Case No.: 14-00244

Chapter 11 Petition Date: January 21, 2014

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

Debtor's Counsel: Jason A Burgess, Esq.
                  THE LAW OFFICES OF JASON A. BURGESS, LLC
                  118 West Adams Street, Ste. 900
                  Jacksonville, FL 32202
                  Tel: 904-354-5065
                  Email: jason@jasonaburgess.com

Total Assets: $1.12 million

Total Liabilities: $1.77 million

The petition was signed by Michael E. Plunk, president.

A list of the Debtor's 15 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flmb14-244.pdf


DAVID J. THOMPSON: Case Summary & 20 Top Unsecured Creditors
------------------------------------------------------------
Debtor: David J. Thompson Mailing Corporation,
        David J. Thompson Mailing Corp.
        21 Naus Way
        P.O. Box 150
        Bloomsburg, PA 17815

Case No.: 14-00237

Chapter 11 Petition Date: January 21, 2014

Court: United States Bankruptcy Court
       Middle District of Pennsylvania (Wilkes-Barre)

Judge: Hon. John J Thomas

Debtor's Counsel: William L Byrne, Esq.
                  HOEGEN & ASSOCIATES, PC
                  152 South Franklin Street
                  P.O. Box 346
                  Wilkes-Barre, PA 18703
                  Tel: 570 820-3332
                  Fax: 570 820-3262
                  Email: wbyrne@hoegenlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by David J. Thompson, president/CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pamb14-237.pdf


DETROIT, MI: Orr Lauds State Commitment to Shore Up Pensions
------------------------------------------------------------
Kevyn Orr, the Emergency Manager for the City of Detroit, on
Jan. 22 issued the following statement after Michigan Governor
Rick Snyder and state legislative leaders announced plans to
support an historic settlement to help shore up the City's public
employee pension funds:

"With [Wednes]day's announcement by the Governor and legislative
leaders, we now have an unprecedented commitment of public and
private resources to help the City of Detroit fulfill its
commitments to retirees and preserve one if its cultural jewels,
the Detroit Institute of Arts.

"The level of proposed investment by the philanthropic community
and the State will go far in helping reach a timely and positive
resolution of the City's financial emergency.  A mutually agreed
resolution to outstanding bankruptcy issues is the best way to
help the City restore basic and public safety services to its
700,000 residents.  It is now time for the remaining parties to
set aside the bargaining rhetoric and step forward and join this
settlement to help this great city regain its footing and become
once again an attractive place to live, work and invest."

                  About City of 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.

A nine-member official committee of retired workers was appointed
in the case.  The Retirees' Committee is represented by Dentons US
LLP.

DIALOGIC INC: Plans To Reduce Total Workforce by 16%
----------------------------------------------------
During the fourth quarter 2013, Dialogic Inc. and its affiliates
approved and initiated a restructuring plan designed to reduce
operating costs, so the Company can focus its resources on a
restructured business model.  On Jan. 13, 2014, the Company
continued the execution of this plan by notifying the majority of
affected employees or commencing consultation processes with
affected employees.

The complete execution of the restructuring plan is expected to
result in a total workforce reduction of approximately 90 full-
time positions, or approximately 16 percent of the Company and its
affiliates' combined workforce.  The notice periods for employees
vary by country.  Affected employees are eligible to receive
severance payments in exchange for a customary release of claims
against the Company and its affiliates in those countries where
the severance amounts exceed what is required under applicable
law.  The Company expects the reduction in its workforce to be
completed by the end of the second quarter 2014.

The Company expects to record a pre-tax charge of approximately $4
to $4.5 million in the fourth quarter 2013 related to the
restructuring plan.  The Company estimates that total cash
expenditures in connection with these restructuring actions will
amount to approximately $4.9 to $5.4 million, of which the Company
estimates that approximately $4.7 to $5.2 million will be
disbursed in 2014, which is comprised of accrued and unused
vacation or paid time off, as well the aforementioned severance
payments.  The estimate of cash expenditures that the Company
expects to incur and the pre-tax charge related thereto in
connection with the workforce reduction is subject to a number of
assumptions, and actual results may differ.  The Company and its
affiliates may also incur other charges not currently contemplated
due to events that may occur as a result of, or associated with,
the workforce reduction.

                          About Dialogic

Milpitas, Cal.-based Dialogic Inc. provides communications
platforms and technology that enable developers and service
providers to build and deploy innovative applications without
concern for the complexities of the communication medium or
network.

The Company's balance sheet at Sept. 30, 2013, showed $99.74
million in total assets, $130.29 million in total liabilities and
a $30.54 million total stockholders' deficit.

                         Bankruptcy Warning

"In the event of an acceleration of our obligations under the Term
Loan Agreement or Revolving Credit Agreement and our failure to
pay the amounts that would then become due, the Revolving Credit
Lender or Term Lenders could seek to foreclose on our assets.  As
a result of this, we would likely need to seek protection under
the provisions of the U.S. Bankruptcy Code and/or our affiliates
might be required to seek protection under the provisions of
applicable bankruptcy codes," the Company said in the quarterly
report for the period ended Sept. 30, 2013.


DIOCESE OF GALLUP: Wants XTO, et al., Forced to Produce Documents
-----------------------------------------------------------------
The Roman Catholic Diocese of Gallup asked U.S. Bankruptcy Judge
David Thuma to force XTO Energy, Inc., and three other companies
to turn over documents related to their oil and gas lease
agreements.

The three other companies are BP America Production Co.
(Onshore), ConocoPhillips Co. and Energen Resources Corp.

The Gallup diocese said it needs to review the documents to know
whether the companies have a contractual relationship with it
rather than the Bishop of the Roman Catholic Diocese of Gallup.
It also wants to find out what properties the documents relate
to, and if it has interest in those properties, according to
court filings.

A notice of the deadline for filing objections will be sent out
to concerned parties.  Objections must be filed with the Clerk of
the U.S. Bankruptcy Court for the District of New Mexico within
21 days after the date of mailing of the notice.

If any objections are filed, a hearing will be held on notice
only to counsel for the diocese and the objecting parties.  An
order granting the request will be presented for entry without a
hearing or further notice if no objections are filed.

                  About the Diocese of Gallup, NM

The Diocese of Gallup, New Mexico, principally encompasses
American Indian reservations for seven tribes in northwestern New
Mexico and northeastern Arizona. It is the poorest diocese in the
U.S.

There are 38 active priests working in the Diocese and 27
permanent deacons also serve the Diocese along with five
seminarians.  The Diocese and its missions, schools and ministries
employ approximately 50 people, and a significant number of
additional people offer their services as volunteers.

The diocese sought bankruptcy protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. N.M. Case No. 13-13676) on Nov. 12,
2013, in Albuquerque, New Mexico amid suits for sexual abuse
committed by priests.

The bishop previously said bankruptcy will be "the most merciful
and equitable way for the diocese to address its responsibility."

The abuse mostly occurred in the 1950s and early 1960s, the bishop
said.

The petition shows assets and debt both less than $1 million.

The Diocese of Gallup is the ninth Catholic diocese to seek
protection in Chapter 11 bankruptcy.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


DIOCESE OF GALLUP: Committee Proposes Pachulski as Counsel
----------------------------------------------------------
The official committee of unsecured creditors in the Roman
Catholic Diocese of Gallup's bankruptcy case seeks court approval
to hire Pachulski Stang Ziehl & Jones LLP as its legal counsel.

The firm will represent the committee at court hearings and in
its consultations with the diocese regarding the administration
of the case.  It will also assist and advise the committee in
negotiation and drafting of a bankruptcy plan.

Pachulski will be paid on an hourly basis for its services and
will receive reimbursement for work-related expenses.  The firm
proposes to charge $650 per hour for professionals working on the
diocese's bankruptcy case and regular hourly rates of $175 to
$255 for paralegals.

The firm does not hold or represent interest adverse to the
committee and the diocese's estate, according to a declaration by
James Stang, Esq., a partner at Pachulski.

A notice of the deadline for filing objections will be sent out
to concerned parties.  Objections must be filed with the Clerk of
the U.S. Bankruptcy Court for the District of New Mexico within
21 days after the date of service of the notice.

If any objections are filed, a hearing will be held on notice
only to counsel for the committee and the objecting parties.  An
order granting the request will be presented for entry without a
hearing or further notice if no objections are filed.

                  About the Diocese of Gallup, NM

The Diocese of Gallup, New Mexico, principally encompasses
American Indian reservations for seven tribes in northwestern New
Mexico and northeastern Arizona. It is the poorest diocese in the
U.S.

There are 38 active priests working in the Diocese and 27
permanent deacons also serve the Diocese along with five
seminarians.  The Diocese and its missions, schools and ministries
employ approximately 50 people, and a significant number of
additional people offer their services as volunteers.

The diocese sought bankruptcy protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. N.M. Case No. 13-13676) on Nov. 12,
2013, in Albuquerque, New Mexico amid suits for sexual abuse
committed by priests.

The bishop previously said bankruptcy will be "the most merciful
and equitable way for the diocese to address its responsibility."

The abuse mostly occurred in the 1950s and early 1960s, the bishop
said.

The petition shows assets and debt both less than $1 million.

The Diocese of Gallup is the ninth Catholic diocese to seek
protection in Chapter 11 bankruptcy.

(Catholic Church Bankruptcy News; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000).


DOLLAR STORAGE: Case Summary & 8 Unsecured Creditors
----------------------------------------------------
Debtor: Dollar Storage LLC
           dba 2 K&H LLC
        2080 River Road
        Calverton, NY 11933

Case No.: 14-70203

Chapter 11 Petition Date: January 21, 2014

Court: United States Bankruptcy Court
       Eastern District of New York (Central Islip)

Judge: Hon. Robert E. Grossman

Debtor's Counsel: Salvatore LaMonica, Esq.
                  LAMONICA HERBST AND MANISCALCO, LLP
                  3305 Jerusalem Ave
                  Wantagh, NY 11793
                  Tel: (516) 826-6500
                  Fax: (516) 826-0222
                  Email: sl@lhmlawfirm.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Julius F. Klein, president and sole
shareholder.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-70203.pdf


DOTS LLC: Files for Bankruptcy to Woo New Investors
---------------------------------------------------
Dots, LLC, the cash-strapped 400-store clothing chain for young
women, on Monday filed for bankruptcy protection with plans to
close underperforming stores and woo new investors.

The Company has arranged to borrow $36 million to keep operating
as it reorganizes under court protection.

Lisa Rhodes, the CEO, explains in court filings, "Despite signs of
business improvement, Dots has decided to file for chapter 11 with
the goal of disposing of its underperforming stores, restructuring
its balance sheet, and attracting new investors who will continue
to operate the Company as a going concern.  Management is
confident that the chapter 11 process will provide the Company
sufficient time to see positive changes in the year-old marketing
strategy and increased consumer recognition of new merchandise.

For the fiscal year ended Jan. 31, 2013, Dots generated $338.8
million in sales, as compared to $346.2 million during the prior
year.  The Company currently estimates sales of $293.7 million for
the fiscal year ending Jan. 31, 2014.

                     More Than $75-Mil. Debt.

As of the Petition Date, the Debtors have outstanding secured debt
owed to senior lender Salus Capital Partners, LLC, of which
$14.5 million remains outstanding under a revolving facility and
$16.1 million is owed under a term facility.

The Debtors also have aggregate unsecured debts totaling
approximately $47.0 million, which include amounts owing for
merchandise, utilities, rents, professional fees, and employee-
related expenses.  Of that amount, approximately $13.8 million
constitutes trade vendor payables.

                       First Day Motions

The Debtors filed a variety of first day pleadings, which they say
are necessary to maintain the loyalty and goodwill of, among other
constituencies, their vendors, employees and customers.  The
Debtors have filed motions to, among other things:

   -- pay up to $1 million in prepetition claims of freight
forwarders, common carriers and truckers and warehousemen who are
in possession of the Debtors' property;

   -- pay approximately $1.4 million in prepetition sales and use
taxes.

   -- grant adequate assurance of payment to utility providers,
including a deposit of $266,200.

   -- honor certain obligations to customers, including
$1.4 million in gift cards.

   -- pay prepetition claims of critical vendors.

   -- reject leases of 36 underperforming stores.

   -- pay prepetition wages and benefits of employees in these
amounts:

         Category                           Prepetition Amount
         --------                           ------------------
      Employee Wages and Salaries                 $2,550,000
      Bonuses, Supervision Pay, Other Incentives     $36,000
      Temporary Agencies                             $35,000
      Independent Contractors                        $17,500
      Employee Payroll Deductions                    $94,000
      Payroll Taxes and Tax Withholding             $420,000
      Health and Welfare Benefits                   $500,000
      401(k) Plan Match                               $5,000
      Severance Pay                                 $185,000
      Reimbursable Business Expenses                  $6,000
      Business Expense Card Charges                  $50,000

The Debtors also request authority to pay severance pay to
terminated employees pursuant to existing agreements and the
Debtors' policies and procedures.  The Debtors presently owe
$430,000 of severance pay to 36 employees, and seek authority to
pay severance pay entitled to priority under Section 507(a)(4) of
the Bankruptcy Code, totaling $185,000 to 34 employees who were
terminated within 180 days before the Petition Date.

Dots seeks authority to pay a limited number of critical vendors
who provide crucial seasonal inventory that cannot be resourced.
The critical vendors total 16 vendors and the prepetition trade
amount owed to critical vendors represents 40.8% of the Debtors'
total prepetition trade obligations of approximately $13.9
million.  Moreover, the Debtors estimate that, as of the Petition
Date, they owe critical vendors approximately $1.8 million in
aggregate for goods received by the Debtors within 20 days of the
Petition Date (approximately 31.5% of the prepetition Critical
Vendor claims), which amounts may be entitled to administrative
priority under section 503(b)(9) of the Bankruptcy Code.

The Debtors have also filed a motion for a 30-day extension --
through March 5, 2014 -- of the deadline to file their schedules
of assets and liabilities and statements of financial affairs.

The Debtors have requested expedited consideration of the first-
day motions.

                         Road to Bankruptcy

According to Ms. Rhodes, beginning in the fourth quarter of 2011,
prior management instituted a number of new merchandising
strategies and operational tactics that resulted in a downturn in
store traffic and overall financial performance.  Dots' financial
difficulties have been exacerbated by adverse economic conditions
and a number of largely unsuccessful changes in product pricing
and marketing, as well as a burdensome lease portfolio.

Beginning with the hiring of a new, highly-experienced management
team in the second half of 2012, Dots instituted a repositioning
strategy to address its operating challenges and recapture its
core customer base by focusing on new brand positioning, pricing,
product merchandising and marketing initiatives, as well as
rationalizing the Company's lease portfolio.

While the Company's turnaround strategy has begun to improve
trends in comparable store sales growth, the overall business
continues to be under financial pressure with sales below
projections. Simultaneously, the Company's cash needs are
significant and liquidity continues to be strained.

Although IPC/Dots L.P., which acquired the Company in early 2011
has, through related parties, devoted significant resources to
fund the Company's operations and cash needs, the Company
continues to face hurdles in terms of its ability to meet cash and
non-cash obligations.

The Company's liquidity has been strained in large part due to
third-party payment pressures.  Beginning in approximately October
2013, certain of the Company's vendors and factors contracted
credit terms and/or began demanding that the Debtors pay for goods
on significantly shortened timeframe or upon delivery.  In fact,
certain creditors received payment from Dots premised on the
release of new goods but failed to deliver, thereby causing
significant liquidity challenges.  Consequently, in December 2013,
the Company retained PwC and Lowenstein Sandler to assist the
Debtors in evaluating strategic alternatives and, in January
2014, initiated a broad marketing campaign in an effort to sell
the Company's assets.

The Company says it filed for bankruptcy protection to gain access
to necessary operating liquidity and enable it to swiftly and
effectively move toward a sale of some or all its businesses while
minimizing administrative expenses.  Furthermore, the chapter 11
process, according to Ms. Rhodes, will create the opportunity to
right-size the Company's store footprint through lease rejections,
a process which is intended to enable the Company to emerge from
the Chapter 11 cases as a going concern and a financially stable
company, albeit under new ownership.

                          About Dots, LLC

Dots is a retailer of fashionable clothing, accessories, and
footwear for price-conscious women.  Dots provides missy and plus
size choices to fashion savvy 25 to 35 year old women at
approximately 400 retail stores throughout the Midwest, East, and
South United States.  Dots' workforce includes 3,500 individuals
in their stores, distribution center, and corporate headquarters.

Dots, LLC, and its affiliates sought bankruptcy protection under
Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No.
14-11016) on Jan. 20, 2014.

Lowenstein Sandler LLP serves as counsel to the Debtors.  Donlin,
Recano & Company, Inc., is the claims and notice agent.


DOTS LLC: Seeks to Reject Leases for 36 Underperforming Stores
--------------------------------------------------------------
Dots, LLC, filed a motion to reject leases with respect to 36
underperforming stores.

The Debtors operate a chain of approximately 400 stores in 28
states located throughout the Midwest, East, and Southeast. Before
the bankruptcy filing, the Debtors determined that 36 of these
retail stores were underperforming and diminishing the value of
their estates.

The estimated January 2014 rent roll for the 36 closing stores,
including amounts for "extras", is $333,708. Accordingly, the
Debtors are removing inventory and other property from these
locations and intend to surrender possession of the stores to
their respective landlords as soon as possible, but by no later
than January 31, 2014.

The Debtors have also determined that certain de minimis personal
property consisting of inventory, furniture, fixtures, and
equipment, if any, that remain after the Debtors exit the closing
stores will be burdensome and will have no value for their
estates.  Accordingly, the Debtors seek approval of the
abandonment of related property.

The closing stores are:

  No.  Store Name         Store Location    Landlord
  ---  -----------        --------------    --------
  784  Bay Plaza          Bronx NY          Bay Plaza Community
                                             Center

  776  Falcaro's Plaza    Lawrence NY       Brixmor SPE 2 LLC

  221  Westview Center    Hanover Park IL   Brixmor SPE 3, LLC c/o
                                            Brixmor
  734  Mktplace @
       Carriage
       Crossing           Collierville TN   Carriage Crossing
                                            Market

  778  Centerpointe Mall  Grand Rapids MI   Centerpoint
                                            Development

  775  Westridge Court    Naperville IL     Centro NP Holdings 6
                                            SPE, LLC

  786  Cherry Hill
       Walmart            Cherry Hill NJ    Cherry Hill VF L.L.C.

  719  Volusia Square     Daytona Beach FL  Cole MT Daytona Beach
                                            FL, LLC

  599  Shops @ Hulen      Ft. Worth TX      Coleman & Logan, P.C.

  723  Bandera Pointe
       North              11643 Bandera Rd.
                          San Antonio TX    DDR DB SA Ventures LP

  787  Terrell Plaza      1231 Austin
                          Highway
                          San Antonio TX    DDR DB Terrell LP

  752  Macedonia Commons  Macedonia OH      DOTRS Limited
                                            Liability

  712  Rockwell Plaza     8533 North
                          Rockwell Avenue
                          Oklahoma City     Inland American Retail
                                            Mgmt

  800  Memorial Square    13726 North
                          Pennsylvania
                          Ave., Oklahoma
                          City OK           Inland Continental
                                            Property

  715  University
       Town Center        Norman OK         Inland Diversified
                                            Real Estate

  765  Four Flaggs S/C    8321 W Golf
                          Road, Niles IL    Inland Four Flaggs,
                                            LLC

  741  Levittown
       Town Center        Levittown PA      Levittown LP

  804  Worcester Crossing Worcester MA      Madison Worcester
                                            Holdings

  799  Nassau Mall        Levittown NY      Nassau Mall Plaza
                                            Associates

  391  Northshore Commons New Hyde Park NY  New Lake Hill, L.L.C.

  751  Florence Square    Florence KY       New Plan Property
                                            Holding

  763  Novi Town Center   Novi MI           Novi Town Center
                                            Investors LLC

  801  Pinewood Square    Lake Worth FL     Pinewood Palm Beach
                                            Retail

  661  Swansea S/C II     Swansea MA        R.K. Swansea, LLC

  808  Heritage Place     Creve Coeur MO    Ramco-Gershenson
                                            Properties,

  671  Rockwall Crossing  Rockwall TX       Rockwall Crossing Ltd.

  729  Deerfield Place    Milton GA         Sembler Alpharetta I,
                                            LLC

  806  Pointe Plaza       5762 W. Touhy
                          Ave., Niles IL    TDC Ocean Pointe, LLC

  767  Northpointe Plaza  Lewis Center OH   Tuller Square
                                            Northpointe LLC

  277  Villa Oak          Villa Park IL     Villa Oaks, LLC

  652  Voice of America   West Chester OH   VOA Development
                                            Company, LLC

  785  North Bergen       North Bergen NJ   Vornado North Bergen
                                            Tonnelle

  811  Clermont Landing   Clermont FL       Weingarten I-4
                                            Clermont

  783  Countryside Centre Clearwater FL     Weingarten Realty
                                            Investors

  795  Ridgeway Trace S/C Memphis TN        WRI Ridgeway, LLC

  713  Westchester
       Commons            Midlothian VA     Zaremba Metropolitan

                          About Dots, LLC

Dots is a retailer of fashionable clothing, accessories, and
footwear for price-conscious women.  Dots provides missy and plus
size choices to fashion savvy 25 to 35 year old women at
approximately 400 retail stores throughout the Midwest, East, and
South United States.  Dots' workforce includes 3,500 individuals
in their stores, distribution center, and corporate headquarters.

Dots, LLC, and its affiliates sought bankruptcy protection under
Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No.
14-11016) on Jan. 20, 2014.

Lowenstein Sandler LLP serves as counsel to the Debtors.  Donlin,
Recano & Company, Inc., is the claims and notice agent.


EARTHLINK HOLDINGS: Moody's Assigns B2 CFR; Outlook Stable
----------------------------------------------------------
Moody's Investors Service has assigned a B2 corporate family
rating (CFR) and B2-PD probability of default rating (PDR) to
EarthLink Holdings Corp., the new holding entity established at
the top of the corporate structure. The existing B2 rated issuer,
EarthLink, Inc. will become a wholly owned subsidiary of EarthLink
which will assume the role of borrower for all existing
obligations of EarthLink, Inc., including the existing B3 (LGD5-
77%) rated $300 million senior unsecured notes due 2019 and Ba3
(LGD2-26%) rated $300 million senior secured notes due 2020.
Moody's has also assigned an SGL-2 speculative grade liquidity to
the company. The outlook is stable.

With the completion of the transaction, Moody's has withdrawn all
existing org level ratings of EarthLink, Inc including the B2 CFR
and B2-PD PDR.

Assignments:

  Issuer: EarthLink Holdings Corp.

     Probability of Default Rating, Assigned B2-PD

     Speculative Grade Liquidity Rating, Assigned SGL-2

     Corporate Family Rating, Assigned B2

    Outlook, Stable

Withdrawals:

  Issuer: EarthLink, Inc.

     Probability of Default Rating, Withdrawn , previously rated
     B2-PD

     Speculative Grade Liquidity Rating, Withdrawn , previously
     rated SGL-2

     Corporate Family Rating, Withdrawn , previously rated B2

RATINGS RATIONALE

EarthLink's B2 CFR reflects its negative revenue trajectory, weak
free cash flow generation and rising leverage as a result of a
continued decline in EBITDA. However, the rating is supported by
the expected long tail decline in the consumer Internet Service
Provider (ISP) base, which also includes subscribers signing up
for high speed broadband services and modest capital expenditure
needs relative to revenue.

The stable rating outlook reflects Moody's expectation that
EarthLink will be able to slow the rate of revenue decline such
that leverage will remain below 3.5x over the next 12-18 months.
While unlikely, Moody's could raise EarthLink's ratings if the
company were to successfully transition to a profitable CLEC
servicing business customers with free cash flow to debt ratio
exceeding 5% and leverage were to trend below 3x (Moody's
adjusted), both on a sustainable basis. Moody's could lower the
ratings if leverage were to stay above 4.5x (Moody's adjusted) or
free cash flow continued to be negative for an extended period of
time.

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

With headquarters in Atlanta, GA, EarthLink Holdings Corp. is a
competitive local exchange carrier (CLEC) serving roughly 1.2
million customers throughout the US and providing IP
infrastructure to small and medium-sized businesses and
residential customers. For the twelve months ended September 30,
2013 revenue totaled approximately $1.28 billion.


ECOTALITY INC: Has Until April 14 to Decide on Unexpired Leases
---------------------------------------------------------------
The Bankruptcy Court extended until April 14, 2014, the time for
Electric Transportation Engineering Corporation doing business as
Ecotality North America, et al., to assume or reject unexpired
leases of nonresidential real property.

Previously, the Court authorized the accelerated hearing on the
Debtor's motion because the statutory deadline for the Debtors to
assume or reject the Lease was scheduled to terminate on Jan. 14.

The extension, Ecotality said, will enable the Debtors to resolve
outstanding issues, and maximize the value of the assets to the
Debtors' estates and creditors.

                        About Ecotality Inc.

Headquartered in San Francisco, California, Ecotality, Inc.
(Nasdaq: ECTY) -- http://www.ecotality.com-- is a provider of
electric transportation and storage technologies.

Ecotality Inc. along with affiliates including lead debtor
Electric Transportation Engineering Corp. sought Chapter 11
protection (Bankr. D. Ariz. Lead Case No. 13-16126) on Sept. 16,
2013, with plans to sell the business at an auction.

The cases are assigned to Chief Judge Randolph J. Haines.  The
Debtors' lead counsel are Charles R. Gibbs, Esq., at Akin Gump
Strauss Hauer & Feld LLP, in Dallas, Texas; and David P. Simonds,
Esq., and Arun Kurichety, Esq., at Akin Gump Strauss Hauer & Feld
LLP, in Los Angeles, California.  The Debtors' local counsel is
Jared G. Parker, Esq., at Parker Schwartz, PLLC, in Phoenix,
Arizona.  FTI Consulting, Inc. serves as the Debtors' crisis
manager and financial advisor.  The Debtors' claims and noticing
agent is Kurtzman Carson Consultants LLC.

Electric Transportation estimated assets of $10 million to $50
million and debt of $100 million to $500 million.  Unlike most
companies in bankruptcy, Ecotality has no secured debt.  It simply
ran out of money.  There's $5 million owing on convertible notes,
plus liability on leases.  Part of pre-bankruptcy financing took
the form of a $100 million cost-sharing grant from the U.S. Energy
Department.  In view of the San Francisco-based company's
financial problems, the government cut off the grant when $84.8
million had been drawn.  Ecotality Inc. disclosed $38,913,918 in
assets and $108,197,080 in liabilities as of the Chapter 11
filing.

On Sept. 24, 2013, the Office of the United States Trustee for
Region 14 appointed a committee of unsecured creditors.  Carolyn
Johnson, Esq. -- cjjohnson@jsslaw.com -- at Jennings Strouss &
Salmon, P.L.C., serves as counsel for the Committee.

In October 2013, the bankruptcy judge cleared Ecotality to sell
most of the business to Car Charging Group Inc. for $3.3 million.
Two other buyers purchased other assets for $1 million in total.

Attorneys for Car Charging Group are:

     Daniel E. Garrison, Esq.
     Jessica R. Kenney, Esq.
     ANDANTE LAW GROUP OF
     DANIEL E. GARRISON, PLLC
     Scottsdale Financial Center I
     4110 North Scottsdale Road, Suite 330
     Scottsdale, AZ 85251
     Tel: (480) 421-9449
     Fax: (480) 522-1515
     Email: dan@andantelaw.com
            jessica@andantelaw.com


ELLIOTT-MCGUIRE: Assets to Be Auctioned Off March 25
----------------------------------------------------
Property of Elliott-McGuire Development Corp., will be sold at
public auction to the highest bidder at the place specified as
outside of the East Door of the Arizona Superior Court, Pima
County Court Building, 110 West Congress Street, Tucson, Arizona
85701, on March 25, 2014, at 11:00 a.m.

The property is located at 8579, 8581, 8587 and 8591 North
Silverbell Road, Tucson, Arizona 85743, and secures debt in the
original principal balance of $150,000 and $2,000,000 owed to
National Bank of Arizona.

The Trustee may be reached at:

     Mark E. Barker
     JENNINGS, HAUG & CUNNINGHAM, LLP
     2800 N. Central Avenue, Suite 1800
     Phoenix, AZ 85004
     Tel: 602-234-7800


EXGEN RENEWABLES: S&P Assigns Prelim. 'BB-' Rating to $300MM Loan
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB-'
preliminary rating to ExGen Renewables I, LLC's seven-year,
$300 million first-lien senior secured term loan facility due
February 2021.  At the same time, S&P assigned its preliminary
recovery rating of '3', indicating its expectation for meaningful
(50% to 70%) recovery of principal in a payment default.  The
outlook is stable.

ExGen Renewables' rating largely reflects a reliance on cash flow
from Continental Wind, which is exposed to various wind regimes,
wind turbine technology performance and costs, and a distribution
test of 1.2x looking forward and backward and also reflects
exposure to refinancing risk at maturity in 2021.  Continental
Wind is a portfolio of 13 wind projects aggregating 667 megawatts
(MW) that issued $613 million in senior secured notes (BBB-
/Stable) in fall 2013 that mature in February 2033.  Continental
Wind earns cash flow from long-term power purchase agreements
(PPA) (and renewable energy agreements) with utilities,
cooperatives, and municipals and from federal production tax
credits (PTC).  Continental Wind is among the more diverse wind
portfolios that S&P has rated.  This diversity reflects five wind
regimes and use of eight different turbine models.  Continental
Wind also benefits from some performance and cost control through
long-term operations and maintenance (O&M) agreements with turbine
manufacturers.

"The stable outlook reflects our expectation that cash flow from
Continental Wind is likely to remain fairly stable given diversity
in the wind regimes and wind turbine technology at the Continental
Wind level," said Standard & Poor's credit analyst Dhaval Shah.

S&P expects limited rating upside because of the high level of
initial leverage and its expectation based on a year of operating
history that there is no evidence that the wind regime is
substantially above S&P's expectations.  However, S&P could raise
the rating if ExGen Renewables amortized debt faster than its
expectation, and S&P had high confidence that the minimum
consolidated DSCR would remain above 1.2x and that refinancing
risk is materially lower than currently anticipated under S&P's
base case.

Should consolidated coverage levels decline consistently below
around 1.12x, S&P would likely lower the ratings.


EXPEDIA INC: Moody's Affirms Ba1 CFR & Sr. Unsecured Notes Rating
-----------------------------------------------------------------
Moody's Investors Service affirmed Expedia, Inc.'s corporate
family rating (CFR) and senior unsecured notes rating of Ba1 and
the probability-of-default rating (PDR) of Ba1-PD. The rating
outlook remains stable.

Ratings Rationale

Moody's expects Expedia to have solid top-line performance (e.g.,
double digit revenue growth) over the next several years with an
online travel market that should exceed the growth rates of the
travel industry. (Moody's forecasts U.S. lodging industry EBIT
will grow 6%-8% over the next 12-18 months based on a 5%-6% rise
in revenue per available room.) Moody's also anticipates that
management will sustain its disciplined financial policies with
projected adjusted debt to EBITDA of less than 3 times and free
cash flow to debt in the mid 20% range.

Event risk is inherent with an ownership structure consisting of
the concentrated voting control of Barry Diller (about 56% of the
stock) and an intensifying competitive landscape. Nonetheless,
Moody's believes that improving profits and cash flow going
forward, which have been tempered by technology platform
investments and marketing expenses, will lead to enhanced
liquidity over the next several years. This will likely enable
Expedia to absorb some level of heightened share buybacks or
acquisition activity. Moody's will continue to evaluate
management's financial policies in light of the possibility of
buying back Liberty's ownership stake of about 17% and the
potential for increased acquisition activity within a rapidly
evolving online travel industry.

Expedia has a leading domestic position in the consumer online
travel agency market. Moody's believes that Expedia enjoys certain
barriers to entry including brand awareness, a global network of
hotel supplier relationships, and a heavily invested technology
infrastructure. Expedia's distribution network continues to
benefit from increasing online penetration of travel expenditures,
especially in international markets.

The stable outlook reflects Moody's expectation of full year 2014
results of double digit annual revenue growth, operating margins
above 15%, and free cash flow greater than $600 million. Moody's
anticipates higher levels of free cash flow in 2015 (more than
$800 million), as Expedia demonstrates increased operating
leverage from technology and selling and marketing investments
incurred over the past few years. Moody's expects that moderate
acquisition and share buyback activity will be funded primarily
through the company's free cash flow generation and that cash will
remain robust through 2015.

The ratings could be upgraded if Expedia maintains its leading
market share among third party, hotelier, and airline online
travel websites, continues to generate profitable organic revenue
growth with steady operating margins in excess of 20%, and adheres
to conservative financial policies, including Moody's adjusted
leverage of about 2 times on a sustained basis. The ratings could
be lowered if Expedia's competitive position weakens materially
(e.g., revenue declines of 5% and operating margins below 10%), or
financial leverage as measured by debt to EBITDA adjusted for
leases increases over 3.5x for an extended period of time.

Ratings affirmed:

  Corporate family rating at Ba1;

  Probability-of-default rating at Ba1-PD;

  Senior unsecured notes at Ba1 (LGD 4, 50%)

  Speculative Grade Liquidity Rating of SGL-1

The principal methodology used in this rating was the 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.

Expedia, Inc., with projected annual revenues nearing $5 billion,
is an online travel agency (OTA) with properties which include
Expedia.com, Hotwire.com, and Hotels.com, maintains a leading
market position among OTAs.


FISKER AUTOMOTIVE: Judge Explains Auction, Credit Bid Cap Ruling
----------------------------------------------------------------
Delaware Bankruptcy Judge Kevin Gross issued a Memorandum Opinion
dated Jan. 17 explaining his decision to decline a private sale of
the assets of Fisker Automotive Holdings, Inc. and Fisker
Automotive, Inc., to Hybrid Tech Holdings, LLC, and to cap the
amount Hybrid may credit bid in an auction.

Hybrid on Oct. 11, 2013, purchased the U.S. Department of Energy's
position of outstanding principal of $168.5 million ($0.15/$1.00)
under Fisker's Senior Loan Facility for $25 million and succeeded
to DOE's position as the Debtors' senior secured lender.  The
Committee argues Hybrid should not be permitted to credit bid at
all, or in any event no more than the $25 million it paid for the
$168.5 million claim Hybrid purchased from DOE.  Hybrid insists on
credit bidding $75 million.

In opting for a public auction, Judge Gross said Wanxiang America
Corporation is a highly attractive and capable participant.
Wanxiang recently purchased in bankruptcy, through an auction,
certain assets of A123 Systems for almost $300 million, most
importantly, the primary component of the Fisker electric cars,
which is the lithium ion battery.  This means that Wanxiang has a
vested interest in purchasing Fisker.

In limiting Hybrid's credit bid, the judge said bidding will not
only be chilled without the cap; bidding will be frozen.

"Hybrid if unchecked of its purchase, might well have frozen out
other suitors for Fisker's assets. Debtors filed these cases on
Friday, November 22, 2013, a mere three business days before the
Thanksgiving holiday, and insisted that the Sale Motion and
confirmation hearings occur not later than January 3, 2014, i.e.,
immediately after the New Year holiday.  The schedule therefore
allowed only 24 business days for parties to challenge the Sale
Motion and even less time for the Committee, which was not
appointed until December 5, 2013, to represent the interests of
unsecured creditors. Neither Debtors nor Hybrid, when the Court
asked, ever provided the Court with a satisfactory reason why the
sale of the non-operating Debtors required such speed. Nor did
Debtors or Hybrid respond to the Court's repeated admonition that
the timing of the Sale Motion was troublesome. It is the Court's
view that Hybrid's rush to purchase and to persist in such effort
is inconsistent with the notions of fairness in the bankruptcy
process. The Fisker failure has damaged too many people, companies
and taxpayers to permit Hybrid to short-circuit the bankruptcy
process," according to Judge Gross.

The judge also noted that the Committee has raised concerns that
the amount of Hybrid's secured claim is uncertain. In their
Stipulated Agreements, the Debtors and the Committee agree that
Hybrid's claim is partially secured, partially unsecured and of
uncertain status for the remainder. Hybrid argues that under case
law in this Circuit, Hybrid is yet entitled to credit bid its
entire claim. Hybrid cites In re Submicron Systems Corp., 432 F.3d
448 (3d Cir. 2006).  In Submicron the issue was not the
classification of the claim but the value of the collateral the
claim secured. The Court of Appeals held that although the secured
debt had no actual/economic value, the secured creditor was
nonetheless entitled to credit bid its entire secured claim. The
Submicron facts are distinctly different than the facts here. In
Submicron the classification of the claim to be credit bid was
clear. The claim was secured, albeit the secured collateral was
deficient as to the entirety of the claim.

"But here we do not yet know how much of Hybrid's claim is
secured. The law leaves no doubt that the holder of a lien the
validity of which has not been determined, as here, may not bid
its lien," Judge Gross said, citing In re Danfuskie Isl. Props.,
LLC, 441 B.R. 60 (Bankr. D.S.C. 2010).  "Submicron addresses an
allowed claim.  No one knows how much of the claim Hybrid
purchased from DOE will be allowed as a secured claim."

In their Sale Motion, the Debtors decided that the cost and delay
arising from a competitive auction process or pursuing a potential
transaction with an entity other than Hybrid would be reasonably
unlikely to increase value for the estates.

According to Judge Gross it is now clear that Hybrid's "drop dead"
date of Jan. 3, 2014, was pure fabrication, designed to place
maximum pressure on creditors and the Court.  "Today is January
17, 2014. Hybrid is still working to acquire Debtors' assets," he
noted.

A copy of the Court's Jan. 17 Memorandum Decision is available at
http://is.gd/9FvKiafrom Leagle.com.

                     About Fisker Automotive

Fisker Automotive Holdings, Inc., developer of the Karma plug-in
hybrid electric sedan, filed a petition for Chapter 11 protection
(Bankr. D. Del. Case No. 13-13087) on Nov. 22, 2013.

Fisker estimated assets of more than $100 million and listed debt
of $500 million in its bankruptcy petition.  The assets include an
assembly plant purchased for $21 million from General Motors Corp.
The plant never operated.  The cars were assembled in Finland.
Fisker now has 21 employees.

Fisker received a $529 million loan from the Department of
Energy's Advanced Technology Vehicles Manufacturing Loan Program
and drew down about $192 million before the department froze the
loan after Fisker failed to hit several development targets.  The
company defaulted on its loan in April 2013.

Bankruptcy Judge Kevin Gross presides over the case.  The Debtors
have tapped James H.M. Sprayregen, P.C., Esq., Anup Sathy, P.C.,
Esq., and Ryan Preston Dahl, Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, as co-counsel; Laura Davis Jones, Esq., James
E. O'Neill, Esq., and Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, as co-counsel;
Beilinson Advisory Group as restructuring advisors; and Rust
Consulting/Omni Bankruptcy, as notice and claims agent and
administrative advisor.

On November 5, 2013, the Official Committee of Unsecured Creditors
was appointed. The members are: (a) David M. Cohen; (b) Sven
Etzelsberger; (c) Kuster Automotive Door Systems GmbH; (d) Magna
E-Car USA, LLC; (e) Supercars & More SRL; and (f) TK Holdings Inc.
The Committee is represented by William R. Baldiga, Esq., and
Sunni P. Beville, Esq., at Brown Rudnick LLP; and Mark Minuti,
Esq., at Saul Ewing LLP.

Fisker sought bankruptcy protection to pursue a private sale of
its business to Hybrid Tech Holdings, LLC.  The Committee,
however, wants a sale public sale, and has identified Wanxiang
America Corporation as stalking horse bidder.

Hybrid was initially under contract to buy Fisker in exchange for
$75 million of the $168.5 million government loan it acquired
immediately before the Debtor's Chapter 11 filing.  Hybrid later
raised its offer by adding an additional $1 million cash and
agreeing to share proceeds from the sale of a facility in Delaware
it doesn't intend to operate.  Hybrid also offered to pay real
estate taxes on the Delaware plant.  Hybrid also will waive $90
million in deficiency claims that otherwise would dilute unsecured
creditors' recovery.

Wanxiang, as stalking horse bidder, initially offered $25.8
million in cash.  However, Wanxiang has said it has raised its
offer by $10 million and is willing to go higher.

After the hearings on Jan. 10 and 13, the Court directed a public
auction, and capped Hybrid's credit bid to $25 million.

In response, Hybrid raised its offer to $55 million.

Hybrid is represented by Tobias Keller, Esq., and Peter
Benvenutti, Esq., at Keller & Benvenutti LLP, in San Francisco,
California.

Wanxiang, which bought A123 Systems, Inc., a manufacturer of
lithium-ion batteries used in electric vehicles such as the Fisker
Karma, in a bankruptcy auction early in 2013 for $256.6 million,
is represented in Fisker's case by Sidley Austin LLP's Bojan
Guzina, Esq., and Andrew F. O'Neill, Esq.; and Young Conaway
Stargatt & Taylor, LLP's Edmon L. Morton, Esq., Robert S. Brady,
Esq., and Kenneth J. Enos, Esq.


FISKER AUTOMOTIVE: Hires Pachulski Stang as Co-Counsel
------------------------------------------------------
Fisker Automotive Holdings, Inc. and its debtor-affiliates ask
permission from the U.S. Bankruptcy Court for the District of
Delaware to employ Pachulski Stang Ziehl & Jones LLP as co-
counsel, nunc pro tunc to Nov. 22, 2013 petition date.

The Debtors require Pachulski Stang to:

   (a) provide legal advice with respect to the Debtors? powers
       and duties as debtors in possession in the continued
       operation of their businesses and management of their
       property;

   (b) prepare on behalf of the Debtors any necessary
       applications, motions, answers, orders, reports, and other
       legal papers;

   (c) appear in Court on behalf of the Debtors;

   (d) prepare and pursue confirmation of a plan and approval of a
       disclosure statement; and

   (e) perform other legal services for the Debtors that may be
       necessary and proper in these proceedings.

Pachulski Stang will be paid at these hourly rates:

       Laura Davis Jones          $975
       James E. O?Neill           $695
       Peter J. Keane             $425
       Monica A. Molitor          $295

Pachulski Stang will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Pachulski Stang received payments from the Debtors during the year
prior to the petition date in the amount of $117,426 including the
Debtors' aggregate filing fees for these cases, in connection with
its prepetition representation of the Debtors.  Pachulski Stang is
current as of the petition date, but has not yet completed a final
reconciliation of its prepetition fees and expenses.  Upon final
reconciliation of the amount actually expended prepetition, any
balance remaining from the prepetition payments to the Firm will
be credited to the Debtors and utilized as Pachulski Stang?s
retainer to apply to post-petition fees and expenses pursuant to
the compensation procedures approved by this Court in accordance
with the Bankruptcy Code.

Laura Davis Jones, partner of Pachulski Stang, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.

Pachulski Stang can be reached at:

       Laura Davis Jones, Esq.
       PACHULSKI STANG ZIEHL & JONES LLP
       919 North Market Street, 17th Floor
       Wilmington, DE 19801
       Tel: (302) 652-4100
       Fax: (302) 652-4400
       E-mail: ljones@pszjlaw.com

                     About Fisker Automotive

Fisker Automotive Holdings, Inc., developer of the Karma plug-in
hybrid electric sedan, filed a petition for Chapter 11 protection
(Bankr. D. Del. Case No. 13-13087) on Nov. 22, 2013.

Fisker estimated assets of more than $100 million and listed debt
of $500 million in its bankruptcy petition.  The assets include an
assembly plant purchased for $21 million from General Motors Corp.
The plant never operated.  The cars were assembled in Finland.
Fisker now has 21 employees.

Fisker received a $529 million loan from the Department of
Energy's Advanced Technology Vehicles Manufacturing Loan Program
and drew down about $192 million before the department froze the
loan after Fisker failed to hit several development targets.  The
company defaulted on its loan in April 2013.

Bankruptcy Judge Kevin Gross presides over the case.  The Debtors
have tapped James H.M. Sprayregen, P.C., Esq., Anup Sathy, P.C.,
Esq., and Ryan Preston Dahl, Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, as co-counsel; Laura Davis Jones, Esq., James
E. O'Neill, Esq., and Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, as co-counsel;
Beilinson Advisory Group as restructuring advisors; and Rust
Consulting/Omni Bankruptcy, as notice and claims agent and
administrative advisor.

On November 5, 2013, the Official Committee of Unsecured Creditors
was appointed. The members are: (a) David M. Cohen; (b) Sven
Etzelsberger; (c) Kuster Automotive Door Systems GmbH; (d) Magna
E-Car USA, LLC; (e) Supercars & More SRL; and (f) TK Holdings Inc.
The Committee is represented by William R. Baldiga, Esq., and
Sunni P. Beville, Esq., at Brown Rudnick LLP; and Mark Minuti,
Esq., at Saul Ewing LLP.

Fisker sought bankruptcy protection to pursue a private sale of
its business to Hybrid Tech Holdings, LLC.  The Committee,
however, wants a sale public sale, and has identified Wanxiang
America Corporation as stalking horse bidder.

Hybrid was initially under contract to buy Fisker in exchange for
$75 million of the $168.5 million government loan it acquired
immediately before the Debtor's Chapter 11 filing.  Hybrid later
raised its offer by adding an additional $1 million cash and
agreeing to share proceeds from the sale of a facility in Delaware
it doesn't intend to operate.  Hybrid also offered to pay real
estate taxes on the Delaware plant.  Hybrid also will waive $90
million in deficiency claims that otherwise would dilute unsecured
creditors' recovery.

Wanxiang, as stalking horse bidder, initially offered $25.8
million in cash.  However, Wanxiang has said it has raised its
offer by $10 million and is willing to go higher.

After the hearings on Jan. 10 and 13, the Court directed a public
auction, and capped Hybrid's credit bid to $25 million.

In response, Hybrid raised its offer to $55 million.

Hybrid is represented by Tobias Keller, Esq., and Peter
Benvenutti, Esq., at Keller & Benvenutti LLP, in San Francisco,
California.

Wanxiang, which bought A123 Systems, Inc., a manufacturer of
lithium-ion batteries used in electric vehicles such as the Fisker
Karma, in a bankruptcy auction early in 2013 for $256.6 million,
is represented in Fisker's case by Sidley Austin LLP's Bojan
Guzina, Esq., and Andrew F. O'Neill, Esq.; and Young Conaway
Stargatt & Taylor, LLP's Edmon L. Morton, Esq., Robert S. Brady,
Esq., and Kenneth J. Enos, Esq.


FISKER AUTOMOTIVE: Creditors' Panel Hires Saul Ewing as Co-Counsel
------------------------------------------------------------------
The Official Committee of Unsecured Creditors of Fisker Automotive
Holdings, Inc. and its debtor-affiliates seek authorization from
the from the U.S. Bankruptcy Court for the District of Delaware to
retain Saul Ewing LLP as co-counsel for the Committee, nunc pro
tunc to Dec. 5, 2013.

The Committee requires Saul Ewing to:

   (a) advise the Committee with respect to its rights, duties,
       and powers in these chapter 11 cases;

   (b) assist and advise the Committee in its consultations with
       the Debtors relative to the administration of these chapter
       11 cases;

   (c) assist the Committee in analyzing the claims of the
       Debtors' creditors and the Debtors' capital structure and
       in negotiating with holders of claims and equity interests;

   (d) assist the Committee in its investigation of the acts,
       conduct, assets, liabilities, and financial condition of
       the Debtors and of the operation of the Debtors'
       businesses;

   (e) assist the Committee in its investigation of the liens and
       claims of the holders of the Debtors' pre-petition debt and
       the prosecution of any claims or causes of action revealed
       by such investigation;

   (f) assist the Committee in its analysis of, and negotiations
       with, the Debtors or any third party concerning matters
       related to, among other things, the assumption or rejection
       of certain leases of nonresidential real property and
       executory contracts, asset dispositions, financing of other
       transactions and the terms of one or more plans of
       reorganization for the Debtors and accompanying disclosure
       statements and related plan documents;

   (g) assist and advise the Committee as to its communications
       to unsecured creditors regarding significant matters in
       these chapter 11 cases;

   (h) assist as needed as conflicts counsel and handle any
       matters that may present a potential conflict for Brown
       Rudnick;

   (i) represent the Committee at hearings and other proceedings;

   (j) review and analyze applications, orders, statements of
       operations, and schedules filed with the Court and advise
       the Committee as to their propriety;

   (k) assist the Committee in preparing pleadings and
       applications as may be necessary in furtherance of the
       Committee's interests and objectives;

   (1) prepare, on behalf of the Committee, any pleadings,
       including without limitation, motions, memoranda,
       complaints, adversary complaints, objections, or comments
       in connection with any of the foregoing; and

   (m) perform such other legal services as may be required or are
       otherwise deemed to be in the interests of the Committee in
       accordance with the Committee's powers and duties as set
       forth in the Bankruptcy Code, Bankruptcy Rules, or other
       applicable law.

Saul Ewing will be paid at these hourly rates:

       Partners                  $350-$750
       Special Counsel           $300-$495
       Associates                $245-$425
       Paraprofessionals         $160-$275

Saul Ewing will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Mark Minuti, partner of Saul Ewing, assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

The Court for the District of Delaware will hold a hearing on the
hiring on Jan. 24, 2014, at 10:00 a.m.  Objections, if any, were
due Jan. 17, 2014, at 4:00 p.m.

Brown Rudnick can be reached at:

        Mark Minuti, Esq.
        SAUL EWING LLP
        222 Delaware Avenue, Suite 1200
        P.O. Box 1266
        Wilmington, DE 19899
        Tel: (302) 421-6840
        Fax: (302) 421-5873

                     About Fisker Automotive

Fisker Automotive Holdings, Inc., developer of the Karma plug-in
hybrid electric sedan, filed a petition for Chapter 11 protection
(Bankr. D. Del. Case No. 13-13087) on Nov. 22, 2013.

Fisker estimated assets of more than $100 million and listed debt
of $500 million in its bankruptcy petition.  The assets include an
assembly plant purchased for $21 million from General Motors Corp.
The plant never operated.  The cars were assembled in Finland.
Fisker now has 21 employees.

Fisker received a $529 million loan from the Department of
Energy's Advanced Technology Vehicles Manufacturing Loan Program
and drew down about $192 million before the department froze the
loan after Fisker failed to hit several development targets.  The
company defaulted on its loan in April 2013.

Bankruptcy Judge Kevin Gross presides over the case.  The Debtors
have tapped James H.M. Sprayregen, P.C., Esq., Anup Sathy, P.C.,
Esq., and Ryan Preston Dahl, Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, as co-counsel; Laura Davis Jones, Esq., James
E. O'Neill, Esq., and Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, as co-counsel;
Beilinson Advisory Group as restructuring advisors; and Rust
Consulting/Omni Bankruptcy, as notice and claims agent and
administrative advisor.

On November 5, 2013, the Official Committee of Unsecured Creditors
was appointed. The members are: (a) David M. Cohen; (b) Sven
Etzelsberger; (c) Kuster Automotive Door Systems GmbH; (d) Magna
E-Car USA, LLC; (e) Supercars & More SRL; and (f) TK Holdings Inc.
The Committee is represented by William R. Baldiga, Esq., and
Sunni P. Beville, Esq., at Brown Rudnick LLP; and Mark Minuti,
Esq., at Saul Ewing LLP.

Fisker sought bankruptcy protection to pursue a private sale of
its business to Hybrid Tech Holdings, LLC.  The Committee,
however, wants a sale public sale, and has identified Wanxiang
America Corporation as stalking horse bidder.

Hybrid was initially under contract to buy Fisker in exchange for
$75 million of the $168.5 million government loan it acquired
immediately before the Debtor's Chapter 11 filing.  Hybrid later
raised its offer by adding an additional $1 million cash and
agreeing to share proceeds from the sale of a facility in Delaware
it doesn't intend to operate.  Hybrid also offered to pay real
estate taxes on the Delaware plant.  Hybrid also will waive $90
million in deficiency claims that otherwise would dilute unsecured
creditors' recovery.

Wanxiang, as stalking horse bidder, initially offered $25.8
million in cash.  However, Wanxiang has said it has raised its
offer by $10 million and is willing to go higher.

After the hearings on Jan. 10 and 13, the Court directed a public
auction, and capped Hybrid's credit bid to $25 million.

In response, Hybrid raised its offer to $55 million.

Hybrid is represented by Tobias Keller, Esq., and Peter
Benvenutti, Esq., at Keller & Benvenutti LLP, in San Francisco,
California.

Wanxiang, which bought A123 Systems, Inc., a manufacturer of
lithium-ion batteries used in electric vehicles such as the Fisker
Karma, in a bankruptcy auction early in 2013 for $256.6 million,
is represented in Fisker's case by Sidley Austin LLP's Bojan
Guzina, Esq., and Andrew F. O'Neill, Esq.; and Young Conaway
Stargatt & Taylor, LLP's Edmon L. Morton, Esq., Robert S. Brady,
Esq., and Kenneth J. Enos, Esq.


FREGO & ASSOCIATES: To Rethink Advertising Strategy
---------------------------------------------------
Katy Stech, writing for The Wall Street Journal, reports that
bankrupt law firm, Frego & Associates, will use its own bankruptcy
to rethink its advertising strategy.

Frego & Associates -- which does business as The Bankruptcy Law
Office PLC and A-1 Bankruptcy -- filed for Chapter 11 bankruptcy
(Bankr. E.D. Mich. Case No. 13-62691) in Detroit on Dec. 19, 2013.
Judge Walter Shapero presides over the case.  The Saline,
Michigan-based bankruptcy law firm has tapped John C. Lange, Esq.,
and Hannah Mufson McCollum, Esq., at Gold, Lange & Majoros, PC, as
its Chapter 11 lawyers.

The firm listed $2.02 million in total assets and $1.41 million in
total liabilities in the petition signed by James P. Frego, II,
its managing member.

According to WSJ, Frego & Associates blamed its financial problems
on payments owed to Mr. Frego's former firm, Frego & Brodsky,
which has shut down.  According to WSJ, Frego plans continue
filing about 100 Chapter 7 or Chapter 13 bankruptcy cases each
month for clients while the firm's leaders use bankruptcy to
negotiate lower payments to be paid to the former law firm's
estate.

WSJ notes the law firm spends most of its marketing money on
advertisements in the Yellow Pages phone directory.  According to
WSJ, the firm advertises that clients can file for bankruptcy now
but pay some of the cost later -- a business model that appeals to
people who don't have the several thousand dollars it costs to
file for protection. That business model, however, can also lead
to a lot of unpaid bills.

The report notes Mr. Frego's former law firm dissolved in 2011
following disagreements between Mr. Frego and Dennis Brodsky, a
lawyer who shared ownership of the firm with Mr. Frego.  The
receiver who was put in charge of shutting down that old firm is
eying customer payments that followed Mr. Frego to his new firm
but originated in the old firm.  The receiver is pushing Mr.
Frego's new law firm to pay about $220,000, according to court
filings.

Mr. Frego told WSJ's Bankruptcy Beat that, despite a nationwide
slowdown in consumer bankruptcy filings, his own firm's business
has held steady.


FRIENDSHIP DAIRIES: Files 3rd Plan to Address Court's Concerns
--------------------------------------------------------------
Friendship Dairies submitted to the U.S. Bankruptcy Court for the
Northern District of Texas on Jan. 14 a Third Amended Plan of
Reorganization to address and overcome concerns raised by the
Court in a memorandum opinion.

The Debtor said that except for the changes made to address the
deficiencies noted by the Court, the Plan duplicates the Second
Amended Plan and incorporates the First Modification to Second
Amended Plan.  The Third Amended Plan does not materially modify
the Second Amended Plan.

The Debtor added in the Plan that Frontier Capital Group, Ltd.
(Class 8) and McFinney Agri-Finance, LP (Class 12) are the only
creditors whose claim treatment differs from the Second Amended
Plan.

The Plan contemplates that all creditors will be paid in full, or
as agreed by such creditor, through the Debtor's operations over
the term of the Plan.

According to the Third Amended Plan, Class 8 Claim will be Allowed
in the amount of $16,700,000.  In exchange for the agreements and
covenants of Frontier in the Plan, including the offer to
contribute to the funding of the Plan through the purchase of
Allowed Class 15 Claims (General Unsecured) under Option 15A of
the Plan, Frontier's lien and security interest in all of its
Collateral arising under the Frontier Loan Documents will be
deemed and treated as valid, subsisting, and non-avoidable.

Class 12 Claim will be Allowed in whatever amount is determined by
the Court, after hearing the Debtor's objection to the Class 12
Claim.  McFinney Agri-Finance, LP filed a proof of claim asserting
a principal balance in the amount of $16,408,373 as of the
Petition Date.  On or about July 31, 2013, McFinney Agri-Finance,
LP was paid $1,071,323 which was stipulated would be applied to
the principal balance of the indebtedness.  Therefore, the
principal balance of McFinney Agri-Finance, LP's claim must be
no more than $15,337,050.  McFinney Agri-Finance, LP will also be
Allowed as part of its Allowed Class 12 Claim the amount of unpaid
interest5 accruing after Aug. 6, 2012, less payments made by the
Debtor between Aug. 6, 2012 and the Effective Date.

A copy of the Third Amended Plan is available for free at
http://bankrupt.com/misc/FRIENDSHIPDAIRIES3plan.pdf

                     About Friendship Dairies

Friendship Dairies, a general partnership, filed a Chapter 11
petition (Bankr. N.D. Tex. Case No. 12-20405) in Amarillo, Texas,
on Aug. 6, 2012.  The Debtor operates a dairy near Hereford, Deaf
Smith County, Texas.  The dairy consists of 11,000 head of cattle,
fixtures and equipment.  The Debtor also farms 5,000 acres of land
for production of various crops used in feeding for the cattle.

The Debtor owes McFinney Agri-Finance, LLC, $16 million secured
by the Debtor's property, which is appraised at more than
$24 million.  The Debtor disclosed $44,421,851 in assets and
$45,554,951 in liabilities as of the Chapter 11 filing.

Bankruptcy Judge Robert L. Jones oversees the case.  J. Bennett
White, P.C., serves as the Debtor's counsel.  The petition was
signed by Patrick Van Adrichem, partner.

The U.S. Trustee appointed a six-member creditors committee in the
Debtor's case.  The Committee tapped Levenfeld Pearlstein
as lead counsel, and Mullin, Hoard & Brown as local counsel.


GENIUS BRANDS: Discusses Business in Letter to Shareholders
-----------------------------------------------------------
Genius Brands International, Inc., distributed a letter to
shareholders on Jan. 16, 2014.

Dear Fellow Shareholders,

Happy New Year! We are excited at Genius Brands for all the
opportunities that lay before us with our recently merged company.
We're fully immersed in the company's combined assets and more
encouraged than ever with the new content in development for
release this year and next.

In a few weeks, we'll be releasing our new animated movie, "Stan
Lee's Mighty 7", from Stan Lee, iconic creator of Spider Man, Iron
Man, X Men, and The Avengers (see press coverage below).  We'll be
introducing a new subscription streaming service for Baby Genius
that will make all of the safe, enriching, and award winning Baby
Genius content, readily available to both kids and parents.  We've
received more entries than ever before for our annual Secret
Millionaires Club, "Grow Your Own Business Challenge" with Warren
Buffett.  Also of note, the Secret Millionaires Club brand and
products will be exhibited this year at the annual meeting of
Berkshire Hathaway.

We plan to announce shortly, details of a content deal with
Netflix as well as a new deal for Baby Genius content on Comcast,
where it currently is the top performer on their Baby Boost SVOD
channel.

Having said the above, for those who may not be familiar with our
industry, and indeed our model, I thought it might be useful to
explain how we manage our portfolio of brands, and the revenue
model that drives our business and creates shareholder value.

Genius Brands International owns, controls, distributes, and seeks
to build animated content and brands aimed at kids, and then
licenses the brands and characters onto various products, e.g.
toys, publishing video games, music, apparel, soft goods, etc. In
most cases, we create our own original content.  In other cases,
we partner with existing rights holders to develop an idea or an
existing brand.  Past examples of brands that I and other Genius
team members created and brought to the market in other ventures
include originally created properties like Inspector Gadget and
Captain Planet.  Others we produced and helped to licensed and
expand, such as Strawberry Shortcake, Care Bears, Super Mario
Brothers, Madeline, Real Ghostbusters, Alvin and the Chipmunks,
Sonic the Hedgehog, and Hello Kitty.

One of the many valuable characteristics of animated content,
unlike most live action content, is that it tends to be
"evergreen" and generally travels easily across borders.  For
example, cartoons like Tom & Jerry, Bugs Bunny, Spiderman and
dozens more were created decades ago, yet they still maintain
their relevance and appeal today.  These timeless brands continue
to produce incremental revenue year after year, decade after
decade.  This can be one of the important benefits of owning
animated content and is one of our catalogue goals.

As we build the new Genius Brands catalogue, we will do so
methodically and with disciplines we have developed through our 25
plus years in the industry to help us manage our costs and
maximize returns for our partners and shareholders.

We are selective about what we produce, and have developed a very
clear focus for Genius Brands.  We call it, "content with a
purpose."  Importantly, this positions Genius Brands distinctively
in the very busy marketplace of kids content.  We are offering
what we believe no other multi-media kids company currently does:
content that is as entertaining as it is enriching, for toddlers
to tweens, produced purposefully for today's multi-media kid.
Behind us are the days of passive storytelling in kid's
entertainment.  Today's toddlers are "hands-on".  They interact
with media in multiple forms, and are fluent in emerging
technologies, be it smart phones, tablets, or game platforms.  At
Genius Brands, we are building a portfolio of interactive brands
that lend themselves to multiple formats, that will entertain
kids, and which parents can feel good about because they are safe,
positive, and enriching.

We believe our model is streamlined in comparison to that at the
large studios.  We try to maintain low overhead and outsource many
of our creative functions such as writing, music, and design, for
example.  This allows us to hire the person we feel is right for
each job, and not carry expensive creative overhead functions that
are not always needed on a day-to-day basis.

We seek to "pre-sell" every property to hopefully ensure it will
be well-received in the marketplace, and we do not commence
expensive production until 75% of the production cost is accounted
for in pre-sales and third party funding commitments.  This makes
it a lot less likely that we would produce a property that may not
sell.  And, it helps us to better manage cash flow as production
expenses are directly aligned with revenue projections.

Our consumer products business is driven by the entertainment.  As
with creative, we outsource and license our brands to companies
who we think are leaders in their respective regions and product
categories, such as, toys, apparel, electronics, etc.  Our
licensees assume the cost for development, distribution and
inventory risk, and we are paid a royalty typically ranging from
8-15% of gross revenue or wholesale prices.  We believe this to be
the most efficient model as it reduces our inventory and overhead
costs while ensuring our brands are being developed by experienced
people in their respective product category.

As with most animated content, much of the animation work is done
outside of the US.  We still do most of the pre-production
(writing, voice recordings, music, storyboards) and post-
production (editing, sound effects, mixing, etc) here in the US.
Generally our digital animation work is done in Asia where I have
developed very strong partnerships over the past 25 years, in
China in particular.  Over the years we have helped each other
grow our respective businesses.  For example, most of our out-of-
pocket animation expenses are assumed by our studio partner in
exchange for them maintaining brand rights for the property to
exploit in Greater China.  This is significant because it helps us
keep our production costs way down, and it helps us to exploit an
enormous market that would otherwise be very, very difficult to
monetize for us.

I've had two previous jobs my whole life.  My first was working
for Hanna Barbera as a writer and producer, where I wrote for
characters such as Flintstones, Scooby Doo, and Smurfs.  My second
job was with my own company, DIC Entertainment which I ran for 25
years.  Today, as Chairman and CEO of Genius Brands, I am
enthusiastically undertaking my third.  I have spent my entire
career in the kids animation business and I have never been more
excited than I am now by the opportunity to build another
substantial and important business while creating content with
purpose for kids.  Our board and our entire team of accomplished
award winning creators, shares this excitement and commitment.  I
look forward to sharing more exciting developments in the coming
months.

Sincerely,
Andy Heyward
Chairman and CEO
Genius Brands International

                        About Genius Brands

San Diego, Calif.-based Genius Brands International, Inc., creates
and distributes music-based products which it believes are
entertaining, educational and beneficial to the well-being of
infants and young children under its brands, including Baby Genius
and Little Genius.

As of Sept. 30, 2013, the Company had $1.55 million in total
assets, $4.96 million in total liabilities and a $3.41 million
total stockholders' deficit.

For the nine months ended Sept. 30, 2013, the Company reported a
net loss of $4.28 million on $1.56 million of total revenues as
compared with a net loss of $1.89 million on $4.30 million of
total revenues for the same period a year ago.

Genius Brands incurred a net loss of $1.37 million in 2011
following a net loss of $692,883 in 2010.


GLOBAL AVIATION: Panel Taps Morrison & Foerster as Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors of Global Aviation
Holdings Inc. and its debtor-affiliates seeks authorization from
the U.S. Bankruptcy Court for the District of Delaware to retain
Morrison & Foerster LLP as counsel, nunc pro tunc to Nov. 22,
2013.

The Committee requires Morrison & Foerster to:

   (a) advise the Committee in connection with its powers and
       duties under the Bankruptcy Code, the Bankruptcy Rules and
       the Local Rules;

   (b) assist and advise the Committee in its consultation with
       the Debtors relative to the administration of these cases;

   (c) attend meetings and negotiate with the representatives of
       the Debtors and other parties in interest;

   (d) assist and advise the Committee in its examination and
       analysis of the conduct of the Debtors' affairs;

   (e) assist and advise the Committee in connection with any sale
       of the Debtors' assets pursuant to Section 363 of the
       Bankruptcy Code;

   (f) assist the Committee in the review, analysis and
       negotiation of any chapter 11 plans or reorganization or
       liquidation that may be filed and to assist the Committee
       in the review, analysis and negotiation of the disclosure
       statement accompanying any such plans;

   (g) take all necessary action to protect and preserve the
       interests of the Committee, including (i) possible
       prosecution of actions on its behalf; (ii) if appropriate,
       negotiations concerning all litigation in which the Debtors
       are involved; and (iii) if appropriate, review and analysis
       of claims filed against the Debtors' estates;

   (h) generally prepare on behalf of the Committee all necessary
       motions, applications, answers, orders, reports and papers
       in support of positions taken by the Committee;

   (i) appear, as appropriate, before this Court, the Appellate
       Courts, and the U.S. Trustee, and protect the interests of
       the Committee before those courts and before the U.S.
       Trustee; and

   (j) perform all other necessary legal services in these cases.

Morrison & Foerster will be paid at these hourly rates:

       Partners                     $675-$1,240
       Of Counsel                   $570-$925
       Associates                   $195-$765
       Paraprofessionals            $140-$395
       Brett H. Miller                $1,025
       Todd M. Goren                  $795
       Erica J. Richards              $660
       Samantha L. Martin             $660
       Jessica J. Arett               $395

Morrison & Foerster will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Brett H. Miller, partner of Morrison & Foerster, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.

The Court for the District of Delaware will hold a hearing on the
hiring on Feb. 25, 2014, at 10:30 a.m.  Objections, if any, are
due Jan. 27, 2014, at 4:00 p.m.

Morrison & Foerster can be reached at:

       Brett H. Miller, Esq.
       MORRISON & FOERSTER LLP
       1290 Avenue of the Americas
       New York, NY 10104
       Tel: (212) 468-8000
       Fax: (212) 468-7900

                   About Global Aviation Holdings

Global Aviation Holdings Inc. -- http://www.glah.com-- the parent
company of North American Airlines and World Airways, sought
Chapter 11 bankruptcy protection on Nov. 12, 2013.  North American
Airlines, founded in 1989, operates passenger charter flights
using B767-300ER aircraft.  Founded in 1948, World Airways --
http://www.woa.com-- operates cargo and passenger charter flights
using B747-400 and MD-11 aircraft.

The parent of World Airways Inc. and North American Airlines Inc.
implemented a prior Chapter 11 reorganization in February 2013.
The new case is In re Global Aviation Holdings Inc., 13-12945,
U.S. Bankruptcy Court, District of Delaware (Wilmington). The
prior case was In re Global Aviation Holdings Inc., 12-bk-40783,
U.S. Bankruptcy Court, Eastern District New York (Brooklyn).

Peachtree City, Georgia-based Global blamed the new bankruptcy on
decreased flying for the government that reduced revenue for the
first nine months of this year to $354 million from $486 million
in the same period of 2012.

The 2013 petition shows assets and debt both exceeding $500
million. In the first bankruptcy, Global listed $589.8 million in
assets and debt of $493.2 million.

In the 2013 case, the Debtors are represented by Kourtney Lyda,
Esq., at Haynes and Boone, LLP, in Houston, Texas; and Christopher
A. Ward, Esq., at Polsinelli PC, in Wilmington, Delaware.

The first lien agent is represented by Michael L. Tuchin, Esq., at
Klee, Tuchin, Bogdanoff & Stern LLP, in Los Angeles, California.

Wells Fargo Bank, National Association, agent to the second
lienholders and third lienholders, is represented by Mildred
Quinones-Holmes, Esq., at Thompson Hines LLP, in New York.


GLOBAL AVIATION: Creditors' Panel Hires Morris James as Co-Counsel
------------------------------------------------------------------
The Official Committee of Unsecured Creditors of Global Aviation
Holdings Inc. and its debtor-affiliates seeks authorization from
the U.S. Bankruptcy Court for the District of Delaware to retain
Morris James LLP as co-counsel to the Committee, nunc pro tunc to
Nov. 26, 2013.

The Committee requires Morris James to:

   (a) provide legal advice and assistance to the Committee in its
       consultations with the Debtors relative to the Debtors'
       administration of its reorganization;

   (b) review and analyze all applications, motions, orders,
       statements of operations and schedules filed with the Court
       by the Debtors or third parties, advise the Committee as to
       their propriety, and, after consultation with the
       Committee, take appropriate action;

   (c) prepare necessary applications, motions, answers, orders,
       reports and other legal papers on behalf of the Committee;

   (d) represent the Committee at hearings held before the Court
       an communicate with the Committee regarding the issues
       raised, as well as the decisions of the Court; and

   (e) perform all other legal services for the Committee which
       may be reasonably required in this proceeding.

Morris James will be paid at these hourly rates:

       Carl N. Kunz, III, Partner           $540
       Douglas Candeub, Senior Counsel      $440
       Eric J. Monzo,
       Associate 2013/Partner 2014        $360/$400
       William W. Weller, Paralegal         $215
       Jamie Dawson, Paralegal              $205

Morris James will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Carl N. Kunz, III, partner of Morris James, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

The Court for the District of Delaware will hold a hearing on the
hiring on Feb. 25, 2014, at 10:30 a.m.  Objections, if any, are
due Jan. 27, 2014, at 4:00 p.m.

Morris James can be reached at:

        Carl N. Kunz, III, Esq.
        MORRIS JAMES LLP
        500 Delaware Avenue, Suite 1500
        P.O. Box 2306
        Wilmington, DE 19801
        Tel: (302) 888-6800
        Fax: (302) 571-1750
        E-mail: ckunz@morrisjames.com

                   About Global Aviation Holdings

Global Aviation Holdings Inc. -- http://www.glah.com-- the parent
company of North American Airlines and World Airways, sought
Chapter 11 bankruptcy protection on Nov. 12, 2013.  North American
Airlines, founded in 1989, operates passenger charter flights
using B767-300ER aircraft.  Founded in 1948, World Airways --
http://www.woa.com-- operates cargo and passenger charter flights
using B747-400 and MD-11 aircraft.

The parent of World Airways Inc. and North American Airlines Inc.
implemented a prior Chapter 11 reorganization in February 2013.
The new case is In re Global Aviation Holdings Inc., 13-12945,
U.S. Bankruptcy Court, District of Delaware (Wilmington). The
prior case was In re Global Aviation Holdings Inc., 12-bk-40783,
U.S. Bankruptcy Court, Eastern District New York (Brooklyn).

Peachtree City, Georgia-based Global blamed the new bankruptcy on
decreased flying for the government that reduced revenue for the
first nine months of this year to $354 million from $486 million
in the same period of 2012.

The 2013 petition shows assets and debt both exceeding $500
million. In the first bankruptcy, Global listed $589.8 million in
assets and debt of $493.2 million.

In the 2013 case, the Debtors are represented by Kourtney Lyda,
Esq., at Haynes and Boone, LLP, in Houston, Texas; and Christopher
A. Ward, Esq., at Polsinelli PC, in Wilmington, Delaware.

The first lien agent is represented by Michael L. Tuchin, Esq., at
Klee, Tuchin, Bogdanoff & Stern LLP, in Los Angeles, California.

Wells Fargo Bank, National Association, agent to the second
lienholders and third lienholders, is represented by Mildred
Quinones-Holmes, Esq., at Thompson Hines LLP, in New York.


IBAHN CORP: Has Okay to Implement Key Employee Incentive Plan
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
iBahn Corporation, et al., to implement an incentive plan and make
payments thereunder to certain employees.

As reported in the Troubled Company Reporter on Dec. 16, 2013, the
Debtors related that in order to maximize the value of their
assets for the benefit of all creditor constituencies, they are
pursuing a sale of substantially all of their assets.  They
believe the key employee incentive plan will incentivize certain
of the employees whose work is critical to achieving the sale or
Plan.

The incentive plan covers three employees: Edward Helvey, chief
executive officer and president; Ryan Jonson, chief financial
officer and Jack Brannelly, general counsel.  The maximum
aggregate amount of incentive payments that could be payable under
the incentive Plan is $140,000.

A copy of the terms of KEIP is available for free at:

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

                          About iBahn Corp.

Salt Lake City, Utah-based IBahn Corp., a provider of Internet
services to hotels, sought bankruptcy protection (Bankr. D. Del.
Case No. 13-12285), citing a loss of contracts with largest
customer Marriott International Inc. and patent litigation costs.
IBahn Chief Financial Officer Ryan Jonson said the company had
assets of $13.6 million and it listed liabilities of as much as
$50 million in the Chapter 11 filing on Sept. 6, 2013.  The
petitions were signed by Ryan Jonson as chief financial officer.
Judge Peter J. Walsh presides over the case.

Laura Davis Jones, Esq., Davis M. Bertenthal, Esq., James E.
O'Neill, Esq., and Timothy P. Cairns, Esq., at Pachulski Stang,
Ziehl Young & Jones, LLP, serve as the Debtors' counsel.  The
Debtors' claims and noticing agent is Epiq Bankruptcy Solutions.
Epiq also serves as administrative agent.  Houlihan Lokey Capital,
Inc., serves as financial advisor and investment banker.


IBAHN CORP: Has Until April 4 to Assume or Reject Unexpired Leases
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware extended
until April 4, 2014, iBahn Corporation, et al.'s time to assume or
reject unexpired leases of non-residential real property.

                          About iBahn Corp.

Salt Lake City, Utah-based IBahn Corp., a provider of Internet
services to hotels, sought bankruptcy protection (Bankr. D. Del.
Case No. 13-12285), citing a loss of contracts with largest
customer Marriott International Inc. and patent litigation costs.
IBahn Chief Financial Officer Ryan Jonson said the company had
assets of $13.6 million and it listed liabilities of as much as
$50 million in the Chapter 11 filing on Sept. 6, 2013.  In formal
schedules filed with the Court, the Company disclosed $19.9
million in total assets and $15.9 million in total liabilities.
The petitions were signed by Ryan Jonson as chief financial
officer.

Judge Peter J. Walsh presides over the case.  Laura Davis Jones,
Esq., Davis M. Bertenthal, Esq., James E. O'Neill, Esq., and
Timothy P. Cairns, Esq., at Pachulski Stang, Ziehl Young & Jones,
LLP, serve as the Debtors' counsel.  The Debtors' claims and
noticing agent is Epiq Bankruptcy Solutions.  Epiq also serves as
administrative agent.  Houlihan Lokey Capital, Inc., serves as
financial advisor and investment banker.


INNER CITY PROPERTIES: Country Club Apartment Complex Being Sold
----------------------------------------------------------------
The "Country Club Apartment Complex," 360 Sandra Lane,
Indianapolis, Indiana, Marion County, 46227 situated on 19.73
acres, owned by Inner City Properties has been placed on the
auction block.

The current sales price for the property is $6,625,000 and the
sale is subject to higher and better offers.

Bids were due Dec. 6, 2013.  The Notice of Proposed Sale did not
indicate the proposed auction date.

The Trustee is:

         Harold Jarnicki
         JARNICKI & ASSOC.
         576 Mound Court
         Lebanon, Ohio 45036
         Tel: (513) 932-5792
         Fax: (513) 932-5443

Inner City Properties, LLC, in Florence, Indiana, filed for
Chapter 11 bankruptcy (Bankr. S.D. Ohio Case No. 13-11552) in
Cincinnati on April 4, 2013.  Judge Jeffery P. Hopkins oversees
the case.  Michael B. Baker, Esq., at The Baker Firm, PLLC, and
Michael L. Baker, Esq., at Ziegler & Schneider, P.S.C., serve as
the Debtor's counsel, according to the petition and court docket.
Inner City Properties scheduled $8,894,302 in assets and
$5,618,076 in liabilities.  A list of the company's 17 largest
unsecured creditors filed with the petition is available for free
at http://bankrupt.com/misc/ohsb13-11552.pdf The petition was
signed by Tracy Hines, manager.


INTERFAITH MEDICAL: May Lose $7.5MM in Financing, Lender Says
-------------------------------------------------------------
The Dormitory Authority of the State of New York, a lender to
Interfaith Medical Center, Inc., filed a notice of default with
the U.S. Bankruptcy Court for the Eastern District of New York.

According to the notice, the Debtor is in default of the Final DIP
Order and DIP Loan Documents due to the following events:

   (1) Interfaith has refused to comply with the DIP Credit
       Agreement and the Final DIP Order requiring Interfaith to
       consummate the DIP Transaction with respect to the timely
       transfer of the clinics to Kingsbrook Jewish Medical
       Center;

   (2) Interfaith has refused to comply with the DIP Credit
       Agreement to assign any VAP Award to DASNY, pay over any
       VAP Award to DASNY, recognize that the VAP Award
       constitutes DIP Collateral, or to use the VAP only in
       accordance with instructions from DASNY;

   (3) Interfaith has failed to maintain compliance with its by
       laws by maintaining an adequate number of members of its
       board of trustees in violation; and

   (4) The resignation of Interfaith's CEO and COO constitute a
       violation of the DIP Credit Agreement.

DASNY has provided Intefaith with use of more than $180 million of
DASNY's cash collateral and $9.85 million in postpetition
financing, and DASNY has committed to provide an additional $11.25
million as part of the DIP Transaction.

David Neier, Esq., at Winston & Strawn LLP, in New York, on behalf
of DASNY, told the Court that Interfaith's refusal to transition
its clinics to Kingsbrook not only contravenes applicable court
orders and law but also keeps DASNY from providing needed capital
to the Debtor and worsens the financial footing of the
institution.

Interfaith's refusal to transfer the clinics will not only cause
the institution the immediate loss of $7.5 million in badly needed
funding and $500,000 per month savings, but will also jeopardize
the ability of the institution to continue to operate, Mr. Neier
added.

DASNY is also represented by Carrie V. Hardman, Esq., at WINSTON &
STRAWN LLP, in New York.

                  About Interfaith Medical Center

Headquartered in Brooklyn, New York, Interfaith Medical Center,
Inc., operates a 287-bed hospital on Atlantic Avenue in Bedford-
Stuyvesant and an ambulatory care network of eight clinics in
central Brooklyn, in Crown Heights and Bedford-Stuyvesant.

The Company filed for Chapter 11 protection (Bankr. E.D. N.Y.
Case No. 12-48226) on Dec. 2, 2012.  The Debtor disclosed
$111,872,972 in assets and $193,540,998 in liabilities as of the
Chapter 11 filing.  Liabilities include $117.9 million owing to
the New York State Dormitory Authority on bonds secured by the
assets.

Alan J. Lipkin, Esq., at Willkie Farr & Gallagher LLP, serves as
bankruptcy counsel to the Debtor.  Nixon Peabody LLP is the
special corporate and healthcare counsel.  CohnReznick LLP serves
as financial advisor.  Donlin, Recano & Company, Inc. serves as
administrative agent.

The Official Committee of Unsecured Creditors tapped Alston & Bird
LLP as its counsel, and CBIZ Accounting, Tax & Advisory of New
York, LLC as its financial advisor.

Eric M. Huebscher, the patient care ombudsman, tapped the law firm
of DiConza Traurig LLP, as his counsel.


JAMESPORT DEVELOPMENT: Case Summary & 6 Unsecured Creditors
-----------------------------------------------------------
Debtor: Jamesport Development LLC
        2080 River Road
        Calverton, NY 11933

Case No.: 14-70202

Chapter 11 Petition Date: January 21, 2014

Court: United States Bankruptcy Court
       Eastern District of New York (Central Islip)

Judge: Hon. Robert E. Grossman

Debtor's Counsel: Salvatore LaMonica, Esq.
                  LAMONICA HERBST AND MANISCALCO, LLP
                  3305 Jerusalem Ave
                  Wantagh, NY 11793
                  Tel: (516) 826-6500
                  Fax: (516) 826-0222
                  Email: sl@lhmlawfirm.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $1 million to $10 million

The petition was signed by Julius F. Klein, president and sole
shareholder.

List of Debtor's six Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Julius F. Klein                     Trade Debt        $3,000,000
2080 River Road
Calverton, NY 11933

E.S. Kalogeras P.C.                 Trade Debt           $30,000

Anthony Lo Presti                   Trade Debt            $3,060

Town of Riverhead Planning          Trade Debt                $0
Department

Eric Bressler                       Trade Debt                $0

Charles R. Cuddy                    Trade Debt                $0


JOURNAL REGISTER: Schneller Motion to Reconsider Plan Order Tossed
------------------------------------------------------------------
In the Chapter 11 case of Journal Register Company, Bankruptcy
Judge Stuart M. Bernstein denied James D. Schneller's (1) Motion
for Reconsideration of Order Confirming Proposed Plan of
Reorganization, and for Intervention, and for Stay, dated Oct. 28,
2013; and (2) Motion for Reconsideration of Order Closing the Case
of Goodson Holding Company and 27 Other Reorganized Debtor Cases,
dated Dec. 2, 2013.

The gravamen of Schneller's claim is that he was defamed by an
article published by one of the 2012 Debtors apparently Goodson
Holding Company and posted on the internet on or about October 9,
2008.  Consequently, when the Debtors filed their first chapter 11
case on February 21, 2009, Schneller was a pre-petition creditor.
The Court confirmed the First Case on July 7, 2009, and the
confirmed plan discharged the 2009 Debtors, inter alia, from their
pre-petition debts, including any debt owed to Schneller. The plan
also enjoined creditors from pursuing the discharged debts.

Schneller appeared pro se.

A copy of the Court's Jan. 16 Memorandum Decision and Order is
available at http://is.gd/62SFD0from Leagle.com.

                     About Journal Register

Journal Register Company -- http://www.JournalRegister.com/-- was
the publisher of the New Haven Register and other papers in 10
states, including Philadelphia, Detroit and Cleveland, and in
upstate New York.  JRC was managed by Digital First Media and is
affiliated with MediaNews Group, Inc., the nation's second largest
newspaper company as measured by circulation.

Journal Register, along with its affiliates, first filed for
Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case No.
09-10769) on Feb. 21, 2009.  Attorneys at Willkie Farr & Gallagher
LLP, served as counsel to the Debtors.  Attorneys at Otterbourg,
Steindler, Houston & Rosen, P.C., represented the official
committee of unsecured creditors.  Journal Register emerged from
Chapter 11 protection under the terms of a pre-negotiated plan.

Journal Register exited the 2009 restructuring with $225 million
in debt and with a legacy cost structure, which includes leases,
defined benefit pensions and other liabilities that have become
unsustainable and threatened the Company's efforts for a
successful digital transformation.  Journal Register managed to
reduce the debt by 28% with the Company servicing in excess of
$160 million of debt.

Journal Register returned to bankruptcy (Bankr. S.D.N.Y. Lead Case
No. 12-13774) on Sept. 5, 2012, to sell the business to 21st CMH
Acquisition Co., an affiliate of funds managed by Alden Global
Capital LLC.  The deal was subject to higher and better offers.

Alden Global is the holder of two terms loans totaling $152.3
million.  Alden Global acquired the stock and the term loans from
lenders in Journal Register's prior bankruptcy.

Journal Register disclosed total assets of $235 million and
liabilities totaling $268.6 million as of July 29, 2012.  This
includes $13.2 million owing on a revolving credit to Wells Fargo
Bank NA.

Bankruptcy Judge Stuart M. Bernstein presides over the 2012 case.
Neil E. Herman, Esq., Rachel Jaffe Mauceri, Esq., and Patrick D.
Fleming, Esq., at Morgan, Lewis & Bockius, LLP; and Michael R.
Nestor, Esq., Kenneth J. Enos, Esq., and Andrew L. Magaziner,
Esq., at Young Conaway Stargatt & Taylor LLP, serve as the 2012
Debtors' counsel.  SSG Capital Advisors, LLC, serves as financial
advisors.  American Legal Claims Services LLC acts as claims
agent.  The petition was signed by William Higginson, executive
vice president of operations.

Otterbourg, Steindler, Houston & Rosen, P.C., represents Wells
Fargo.  Akin, Gump, Strauss, Hauer & Feld LLP, represents the
Debtors' Tranche A Lenders and Tranche B Lenders.  Emmet, Marvin &
Martin LLP, serves as counsel to Wells Fargo, in its capacity as
Tranche A Agent and the Tranche B Agent.

Gerald C. Bender, Esq., at Lowenstein Sandler LLP, represented the
Official Committee of Unsecured Creditors.  FTI Consulting, Inc.,
served as financial advisor.

The Journal Register bankruptcy has been renamed Pulp Finish I
Co., after the estate sold the newspaper business to lender and
owner Alden Global Capital Ltd., mostly in exchange for $114.15
million in secured debt and $6 million cash.  After debts with
higher priority are paid, what's left from the cash and a $630,000
tax refund represents most of unsecured creditors' recovery.
There were no bids to compete with Alden's offer.  Alden paid off
financing for the bankruptcy and assumed up to $22.8 million in
liabilities, thus taking care of most trade suppliers who
otherwise would have ended up as unsecured creditors.  In
addition, the lenders waived their deficiency claims, so
recoveries by unsecured creditors won't be diluted.


JUL-BET ENTERPRISES INC: Case Summary & 5 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Jul-Bet Enterprises, Inc.
        2080 River Road
        Calverton, NY 11933

Case No.: 14-70207

Chapter 11 Petition Date: January 21, 2014

Court: United States Bankruptcy Court
       Eastern District of New York (Central Islip)

Judge: Hon. Robert E. Grossman

Debtor's Counsel: Salvatore LaMonica, Esq.
                  LAMONICA HERBST AND MANISCALCO, LLP
                  3305 Jerusalem Ave
                  Wantagh, NY 11793
                  Tel: (516) 826-6500
                  Fax: (516) 826-0222
                  Email: sl@lhmlawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Julius F. Klein, president and sole
shareholder.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-70207.pdf


JUL-BET ENTERPRISES LLC: Case Summary & 4 Top Unsecured Creditors
-----------------------------------------------------------------
Note: I made separate case summaries for these cases because it is
not indicated in the petitions that they are affiliates.

Debtor: Jul-Bet Enterprises LLC
        2080 River Road
        Calverton, NY 11933

Case No.: 14-70204

Chapter 11 Petition Date: January 21, 2014

Court: United States Bankruptcy Court
       Eastern District of New York (Central Islip)

Judge: Hon. Alan S Trust

Debtor's Counsel: Salvatore LaMonica, Esq.
                  LAMONICA HERBST AND MANISCALCO, LLP
                  3305 Jerusalem Ave
                  Wantagh, NY 11793
                  Tel: (516) 826-6500
                  Fax: (516) 826-0222
                  Email: sl@lhmlawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Julius F. Klein, president and sole
shareholder.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-70204.pdf


JURASSIC HOLDINGS: Moody's Assigns B3 CFR & Rates Sr. Notes Caa1
----------------------------------------------------------------
Moody's Investors Service assigned a B3 Corporate Family Rating
CFR) and B3-PD Probability of Default Rating (PDR) to Jurassic
Holdings III, Inc. which will merge with NESCO, LLC in conjunction
with its acquisition by affiliates of Energy Capital Partners
("ECP") in a transaction valued at approximately $875 million.
Moody's also assigned a Caa1 rating to the proposed $500 million
senior secured second lien notes. The rating outlook is stable.
Moody's affirmed NESCO's current CFR and PDR at B3 and B3-PD,
respectively, and affirmed the Caa1 rating on the existing $280
million of senior secured second lien notes issued by NESCO, LLC.
Upon the close of the transaction, the affirmed ratings will be
withdrawn.

Assignments:

  Issuer: Jurassic Holdings III, Inc.

     Corporate Family Rating, Assigned B3

     Probability of Default Rating, Assigned B3-PD

     Senior Secured Regular Bond/Debenture, Assigned Caa1 (LGD4,
     67%)

Affirmations:

  Issuer: NESCO LLC

     Probability of Default Rating, Affirmed B3-PD

     Corporate Family Rating, Affirmed B3

     Senior Secured Regular Bond/Debenture Apr 15, 2017, Affirmed
     Caa1 (LGD5, 75%)

Outlook Actions:

  Issuer: Jurassic Holdings III, Inc.

    Outlook, Assigned Stable

  Issuer: NESCO LLC

    Outlook, Remains Stable

Ratings Rationale

The B3 CFR of NESCO (as the surviving entity following the
acquisition and merger) reflects the company's high leverage with
debt to EBITDA of approximately 6.0 times as of September 30, 2013
(pro forma for the current transaction), small scale and limited
end market diversity given its focus on the electric power
transmission and distribution ("T&D") industry. Moreover, as a
rental company, a decrease in demand would first be reflected in
NESCO's equipment utilization before affecting contractors' or
utilities' utilization. Factors that help mitigate these risks
include the company's established position within its niche
product market, geographic diversification and footprint in North
America, expectation for relatively consistent demand for its
equipment, and strong operating margins. The ratings are also
supported by certain industry dynamics that bode well for the
company's prospects including aging power infrastructure requiring
investment and the potential for increased outsourcing to
contractors (which represents the vast majority of the company's
customer base) by electric utilities.

Moody's considers the company's liquidity to be adequate based on
expectations for the new 5-year ABL revolver (unrated) to have
$125 million drawn at close and a borrowing base that supports
nearly the full $250 million in commitments. The Caa1 instrument
rating on the $500 million of 8-year senior secured second lien
notes reflects their contractually junior ranking relative to the
revolver with respect to the collateral. The notes will be co-
issued by NESCO Finance Corporation, a subsidiary of NESCO, LLC.
NESCO Finance Corporation will be a guarantor of the revolver.

The stable outlook reflects Moody's expectation for the company to
continue to experience relatively consistent demand for its
products and its focus on an end market that is less susceptible
to the business cycle.

The rating or outlook could be adversely affected if debt to
EBITDA were expected to increase above 6.0 times or EBITDA to
interest below 1.75 times. A deterioration in the company's
operating environment in which fleet utilization and rental rates
decline could also put downward pressure on the ratings.

The ratings are unlikely to be upgraded in the near-term given the
company's small scale, product concentration, and high leverage.
Longer term, positive factors include debt to EBITDA below 4.0
times and EBITDA to interest above 3.5 times, both on a sustained
basis. Upwards ratings traction would also be based on the
expectation for strong rental rates and equipment utilization.

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

NESCO, LLC based in Fort Wayne, Indiana, rents and sells a range
of new and used equipment for the electric power T&D industry,
including on- and off-highway, overhead and underground equipment,
arbor equipment, sign erection and maintenance equipment.
Customers include utility contractors and utilities in the United
States and Canada that are performing installation, maintenance,
upgrades and repairs to T&D infrastructure. During 2012, the
company completed two significant acquisitions that grew its
fleet. In August 2012, NESCO purchased the utility equipment fleet
and related assets from Penske Truck Leasing Co., L.P. and in
December 2012 it purchased Utility Equipment Leasing Corporation.
LTM revenues for the period ended September 30, 2013 were
approximately $200 million.


KAHN FAMILY: Plan Calls for Equity Conversion of Unsecured Claims
-----------------------------------------------------------------
Kahn Family, LLC, filed a Plan of Reorganization and Disclosure
Statement to the U.S. Bankruptcy Court for the District of South
Carolina.

Payments and distributions under the Plan will be funded by (1)
the sale of certain of the Debtor's real property at fair market
value; (2) the transfer of certain real property of the Debtor to
Gibraltar BB4, LLC; (3) conversion of certain unsecured claims
against the Debtor to equity in the Reorganized Debtor; (4) cash
on hand on the Effective Date; and (5) cash flow from continuing
operations.

The Plan, dated Dec. 20, 2013, provides for the designation and
treatment of nine classes of claims and interests in the Debtor:

  * Class 1 Claim is the secured claim of Wells Fargo Bank, N.A.,
    with treatment to be determined before plan confirmation.
    Class 2 Claims are priority unsecured claims pursuant to Sec.
    507 of the Bankruptcy Code, they will be paid in full in cash
    to the extent allowed.

  * Classes 3 to 7 are general unsecured claims against the
    Debtor:

    -- Class 3 Claim of Gibraltar will be addressed by the
       transfer of Hunt Club Forest property.

    -- Class 4 General Unsecured Trade and Vendor Claims will be
       paid 20% of allowed claims in cash.

    -- For Class 5 ABK Children's Trust Claim, Class 6 The DKR
       Children's Trust Claim, and Class 7 CMSC, LLC, Claim, debt
       will be converted to equity in the Reorganized Debtor.

  * No treatment has been specified for Class 8 M.B. Kahn
    Construction Company Claim in the plan documents.

  * Class 9 Equity Interests in the Debtor will be extinguished.

Hearing on the Disclosure Statement is currently scheduled for
Feb. 28, 2014, at 10:00 a.m. before Judge Helen E. Burris.
Parties-in-interest have until Feb. 21 to file formal written
objections, if any, to the Disclosure Statement.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/KAHNFAMILYds_Dec20.PDF

Kahn Family, LLC, and Kahn Properties South, LLC, filed bare-bones
Chapter 11 petitions (Bankr. D. S.C. Case Nos. 13-02354 and
13-02355) on April 22, 2013.  Kahn Family disclosed $50 million to
$100 million in assets and liabilities.  R. Geoffrey Levy, Esq.,
at Levy Law Firm, LLC, serves as the Debtors' counsel.  David G.
Wolff, Esq., at Barnes, Alford, Stork & Johnson, LLP, is the
Debtor's special counsel.  Bill Quattlebaum, CPA of Elliott Davis,
LLC, serves as its accountant.


LEHMAN BROTHERS: Seeks Rejection of Freddie Mac's $1.2-Bil. Claim
-----------------------------------------------------------------
Lehman Brothers Holdings Inc. continued its ongoing battle against
the $1.2 billion claim filed by the Federal Home Loan Mortgage
Corporation or Freddie Mac stemming from two loans Freddie Mac
made to Lehman prior to the company's bankruptcy filing in 2008.

In a recent court filing, Lehman maintained that Judge James Peck
of the U.S. Bankruptcy Court for the Southern District of New York
should classify Freddie Mac's claim as general unsecured in order
to free up hundreds of millions of dollars for other creditors.

Lehman refuted the agency's assertion that its claim is entitled
to priority under the company's $65 billion payout plan pursuant
to the 2008 Housing and Economic Recovery Act.

Lehman's counsel, Alfredo Perez, Esq., at Weil Gotshal & Manges
LLP, in New York, said the avoidance powers granted to Freddie
Mac's conservator under the Recovery Act "do not provide a basis
for the claim."

"Claims based on the conservator's avoidance powers under HERA
are not listed in section 507(a)," the Lehman lawyer said,
referring to a provision of the Bankruptcy Code, which lists the
claims entitled to priority treatment in Chapter 11 cases.

Lehman wants the claim classified as general unsecured to free up
hundreds of millions of dollars for other creditors.  The company
says it needs to maintain a $1.2 billion cash reserve for the
claim until the court classifies it as general unsecured.

Freddie Mac defends the cash reserve, saying it was created as
part of the agency's previous deal with Lehman.  The agency says
an early release of the cash reserve would leave Lehman with no
enough funds to pay its claim.

Lehman and the agency reached an interim settlement in the
process of confirming the defunct New York-based bank's Chapter
11 plan.  The settlement set aside $1.2 billion in cash pending
the outcome of the classification dispute.

Last month, U.S. District Judge Lorna Schofield in Manhattan had
said the dispute raises legal questions that are to be decided in
federal district court.

Judge Schofield ruled on Dec. 17 that the matter requires removal
from bankruptcy court because it involves non-bankruptcy federal
law, specifically the Recovery Act.  Judge Schofield, however,
said that she would consider the matter after Judge Peck first
reports what he thinks.

After Judge Peck supplies his report and recommendation, Judge
Schofield will make her own independent decision, unencumbered by
the bankruptcy judge's conclusions of fact or law.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012, a second payment of $10.2 billion on Oct. 1, 2012,
and a third distribution of $14.2 billion on April 4, 2013.  The
brokerage is yet to make a first distribution to non-customers,
although customers are being paid in full.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000).


LEHMAN BROTHERS: Judge Approves Fannie Mae Stipulation
------------------------------------------------------
Judge James Peck approved an agreement made by Lehman Brothers
Holdings Inc. and Fannie Mae in connection with the company's
objection to the classification of a portion of the agency's
claim tied to the sale of residential mortgage-backed securities.

Under the deal, both sides agreed that the portion of Lehman's
objection asserting that Fannie Mae's aggregate recoveries may
exceed its actual losses and that the agency's recoveries on its
claim constitute a windfall at the expense of general unsecured
creditors will be continued without prejudice.

A full-text copy of the agreement is available without charge at
http://is.gd/sbGFxp

Fannie Mae is represented by David Neier, Esq. --
dneier@winston.com -- at Winston & Strawn LLP, in New York.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012, a second payment of $10.2 billion on Oct. 1, 2012,
and a third distribution of $14.2 billion on April 4, 2013.  The
brokerage is yet to make a first distribution to non-customers,
although customers are being paid in full.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000).


LEHMAN BROTHERS: Sues Unipol Banca to Recover EUR3.76MM
-------------------------------------------------------
Lehman Brothers Holdings Inc. sued Unipol Banca S.p.A. to recover
more than EUR3.76 million it received from Anthracite Investments
(Ireland) plc.

In an 11-page complaint, Lehman claimed the bank "improperly
received" the payment, which should have been made to the
company's special financing unit.

Lehman's special financing unit only received more than EUR1.6
million instead of EUR5.4 million as payment for the early
termination of its swap deal with Anthracite.

Anthracite, through its agent, "miscalculated the early
termination payment," Lehman said in the complaint filed on
Jan. 14 in U.S. Bankruptcy Court in Manhattan.

The company asked the bankruptcy court to force Unipol to turn
over the money, and issue a declaration that the bank violated
the automatic stay by withholding the money payable to the
company's subsidiary.

The case is Lehman Brothers Holdings Inc. v. Unipol Banca S.p.A.,
14-01021, U.S. Bankruptcy Court, Southern District of New
York (Manhattan).

Unipol is facing another lawsuit from Lehman, which seeks to
recover more than $4.4 million from the bank.  Lehman accused the
bank of violating its contracts with Lehman Brothers Commercial
Corp. when it failed to make payments under the contracts.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012, a second payment of $10.2 billion on Oct. 1, 2012,
and a third distribution of $14.2 billion on April 4, 2013.  The
brokerage is yet to make a first distribution to non-customers,
although customers are being paid in full.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000).


LEHMAN BROTHERS: Seeks Another 4-Month Stay of Avoidance Suits
--------------------------------------------------------------
Lehman Brothers Holdings Inc. asked the U.S. Bankruptcy Court in
Manhattan to grant the company another four-month stay on lawsuits
involving avoidance claims.

In a court filing, Lehman proposed to extend the stay to May 20,
2014, from January 20, saying it would allow the company to
resolve the cases through so-called "alternative dispute
resolution process."

The four-month extension would also allow the company to
establish a "practical and efficient road map" for litigating
cases involving special purpose vehicles that aren't resolved
consensually, Lehman said.

One of the six cases involving SPVs was filed by Lehman Brothers
Financial Products Inc. while the other cases were filed by
Lehman's special financing unit.  In addition to these cases,
there are 10 other complaints filed by Lehman, which are still
pending.

The company was first granted an extension of stay by the
bankruptcy court on October 20, 2010.  The court imposed a
nine-month stay on more than 50 lawsuits filed by Lehman and its
subsidiaries to recover over $3 billion.  The stay has been
extended several times since then.

A court hearing is scheduled for January 29.  Objections were due
by January 22.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012, a second payment of $10.2 billion on Oct. 1, 2012,
and a third distribution of $14.2 billion on April 4, 2013.  The
brokerage is yet to make a first distribution to non-customers,
although customers are being paid in full.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000).


LEHMAN BROTHERS: Committee Withdraws Bid to Probe JPMorgan
----------------------------------------------------------
The official committee of unsecured creditors on Jan. 14 withdrew,
without prejudice, its motion to investigate JPMorgan Chase Bank.
The committee previously proposed to investigate JPMorgan for
allegedly withholding Lehman Brothers Holdings Inc.'s excess
assets held at the bank, a move which could have contributed to
Lehman's liquidity constraints and bankruptcy.

The Committee has said that LBHI had at least $17 billion in
excess assets which were held at JPMC on the Friday going into
the weekend before LBHI's bankruptcy filing.

                      About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was
the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

Lehman made its first payment of $22.5 billion to creditors in
April 2012, a second payment of $10.2 billion on Oct. 1, 2012,
and a third distribution of $14.2 billion on April 4, 2013.  The
brokerage is yet to make a first distribution to non-customers,
although customers are being paid in full.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other
insolvency and bankruptcy proceedings undertaken by its
affiliates. (http://bankrupt.com/newsstand/or 215/945-7000).


LIGHTSQUARED INC: Wins Approval of JPMorgan Engagement Letter
-------------------------------------------------------------
LightSquared Inc. received the green light from U.S. Bankruptcy
Judge Shelley Chapman to enter into an "engagement letter" with
J.P. Morgan Chase & Co. and Credit Suisse Group A.G.

Under the engagement letter, J.P. Morgan and Credit Suisse will
serve as lead arrangers for $2.5 billion in financing that would
allow the wireless communications company to exit Chapter 11
protection.  A copy of the engagement letter can be accessed for
free at http://is.gd/TrxNrG

The exit financing is part of a new plan proposed by LightSquared,
with financial backing from J.P. Morgan, Fortress Investment Group
LLC, Melody Capital Advisors LLC, and Harbinger Capital Partners.
The plan would include a $2.75 billion in new loans and at least
$1.25 billion in new equity investment.

The new plan would pay secured lenders in full and give stakes in
the reorganized LightSquared to its current shareholders.  It is
subject to approval of the company's license application by the
Federal Communications Commission, which regulates the spectrum it
is relying on to launch its wireless broadband network.

                      About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.


LIGHTSQUARED INC: Seeks Approval of $33MM Loan from CRMC, et al.
----------------------------------------------------------------
LightSquared Inc. is asking U.S. Bankruptcy Judge Shelley Chapman
to authorize LightSquared LP to borrow $33 million in financing
from a group of lenders led by Capital Research and Management Co.

LightSquared LP will use the new loan, which has an interest rate
of 15% per annum, for "general corporate and working capital
purposes" of the company and its subsidiaries.

Capital Research will provide $16 million while the rest will be
provided by Cyrus Capital Partners L.P., Fir Tree Partners, and
Intermarket Corp.

As security for the loan, the lenders will be granted "first
priority liens" on unencumbered assets of LightSquared LP and its
subsidiaries, and "priming liens" on assets that are encumbered by
liens securing the $1.5 billion previously obtained by the company
under a 2010 credit agreement.

The new loan will mature on the earlier of (i) April 15, 2014;
(ii) the occurrence of the "funding date" if the proposed plan of
LightSquared LP's secured lenders is confirmed; or 15 days after
court approval of LightSquared Inc.'s proposed plan.

A copy of the term sheet detailing the proposed financing is
available for free at http://is.gd/NZYllf

The secured lenders' plan is based on the $2.2 billion sale of so-
called "LP" assets to L-Band Acquisition LLC, a subsidiary of Dish
Network Corp.  The lenders recently announced that they intend to
proceed with the confirmation of the plan although L-Band already
withdrew its offer for the assets.

Meanwhile, LightSquared Inc. seeks to exit bankruptcy with backing
from private-equity firms Fortress Investment Group LLC and Melody
Capital Advisors LLC.  Its proposed plan would include a $2.75
billion in new loans and at least $1.25 billion in new equity
investment.

A court hearing to consider approval of the new loan is scheduled
for Jan. 31.  Objections are due by Jan. 24.

                      About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.


LIGHTSQUARED INC: US Bank, MAST Ask Court to Confirm One Dot Plan
-----------------------------------------------------------------
U.S. Bank N.A. and MAST Capital Management, LLC asked U.S.
Bankruptcy Judge Shelley Chapman to approve the Chapter 11 plan
they have proposed for One Dot Six Corp.

In a Jan. 21 filing, attorney for U.S. Bank and MAST Capital said
the plan is confirmable and can be implemented quickly unlike the
competing plans proposed by LightSquared Inc. and the secured
lenders.

"The sale contemplated by the One Dot Six plan is subject only to
routine regulatory approvals," said Philip Dublin, Esq., at Akin
Gump Strauss Hauer & Feld LLP, in New York.  He added that the
regulatory approval is "commonly granted" in the context of
Chapter 11 cases.

The One Dot Six plan also "satisfies all applicable requirements"
of section 1129 of the Bankruptcy Code unlike the new plan
proposed by LightSquared Inc., according to the lawyer.

Mr. Dublin also asked the bankruptcy judge to overrule objections
to the plan, saying the offer made by MAST Capital's affiliate to
buy the assets "remains the only qualified bid."

The objections, one of which was filed by Philip Falcone's
Harbinger Capital Partners LLC, allege that the One Dot Six plan
"massively undervalues" the company's assets, allowing MAST to
recover more than what it is entitled to receive on account of its
claims.

The plan, if confirmed, would effectuate the sale of One Dot Six's
wireless spectrum assets to Mast Spectrum Acquisition Company LLC,
an affiliate of MAST Capital, in exchange for payment of all DIP
claims, and cash in an amount sufficient to satisfy in full
administrative and priority claims against the company.

A full-text copy of the plan is available without charge at
http://is.gd/vcgfT6

                      About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.


LINCOLN-MARTI: S&P Assigns 'B' Rating to FL Revenue Bonds
---------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' rating to
Florida Development Finance Corporation's educational facilities
revenue bonds (Lincoln-Marti Community Agency Inc. Project),
series 2014A and taxable revenue bonds 2014B, issued for Lincoln-
Marti Community Agency Inc. (LMCA), an educational and social
service provider in Miami-Dade County.  The outlook is stable.

"The rating reflects our view of LCMA's lack of financial
oversight, lack of endowment, small board, and very large post-
issuance debt burden," said Standard & Poor's credit analyst
Carlotta Mills.

Bond proceeds will be used primarily to acquire two related for-
profit companies: DP Holdings and LM Schools ($67 million); thus,
they will become wholly owned subsidiaries of LMCA as it will
become the sole member of both organizations.


MARC DREIER: Unsecured Claims to Recover 4% to 12% Under Plan
-------------------------------------------------------------
Sheila M. Gowan, the Chapter 11 trustee for Dreier LLP, and the
Official Committee of Unsecured Creditors filed a Plan of
Liquidation and Disclosure Statement for Dreier LLP.

The Plan provides a mechanism by which a Plan Administrator will
marshal the Debtor's assets, through the collection of amounts
owed to the Debtor, which amounts will be deposited with the Plan
Administrator for the eventual distribution to holders of Claims
and Interests, in the order set forth in the Plan.

The Plan designates five claim classes against the Debtor.  Class
1 Wells Fargo Superpriority Claim, estimated at $940,527, and
Class 2 Secured Claims, estimated at $8,971,845, and Class 3
Priority Non-Tax Claims, estimated at $1,909,434, are unimpaired
under the Plan.

Class 4 General Unsecured Claims, estimated at $375,361,793, are
impaired.  The Plan provides an estimated 4.9% to 12.6% recovery
for this class.

Holders of interests (Class 5) in the Debtor will receive no
distribution.

The Plan Proponents estimate that on the Effective Date, the
estate will have Cash on hand for approximately $35,519,322.

A of the Disclosure Statement, dated Dec. 20, 2013, is available
for free at http://bankrupt.com/misc/MARCDREIERds_Dec20.PDF

Hearing on the proposed Disclosure Statement is currently
scheduled for Feb. 11, 2014, at 10:00 a.m.  Responses are due by
Feb. 4.

Counsel for the Chapter 11 Trustee are:

          DIAMOND McCARTHY LLP
          Howard D. Ressler, Esq.
          Stephen T. Loden, Esq.
          20 Eighth Avenue, 39th Floor
          New York, New York 10018
          Tel: (212) 430-5400
          Fax: (212) 430-5499

Counsel for the Unsecured Creditors Committee are:

          KLESTADT & WINTERS, LLP
          Tracy L. Klestadt, Esq.
          Sean C. Southard, Esq.
          Joseph C. Corneau, Esq.
          570 Seventh Avenue, 17th Floor
          New York, New York 10017
          Tel: (212) 972-3000
          Fax: (212) 972-2245

               About Marc Dreier and Dreier LLP

Marc Dreier founded New York-based law firm Dreier LLP --
http://www.dreierllp.com/-- in 1996.  On Dec. 8, 2008, the U.S.
Securities and Exchange Commission filed a suit, alleging that Mr.
Dreier made fraudulent offers and sales of securities in several
cities, selling fake promissory notes to hedge and other private
investment funds.  The SEC asserted that Mr. Dreier also
distributed phony financial statements and audit opinions, and
recruited accomplices in connection with that scheme.  Mr. Dreier,
currently in prison, was charged by the U.S. government for
conspiracy, securities fraud and wire fraud (S.D.N.Y. Case No.
09-cr-00085).

Dreier LLP sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
08-15051) on Dec. 16, 2008.  Stephen J. Shimshak, Esq., at Paul,
Weiss, Rifkind, Wharton & Garrison LLP, was tapped as counsel.
The Debtor estimated assets of $100 million to $500 million, and
debts between $10 million and $50 million in its Chapter 11
petition.

Sheila M. Gowan, a partner with Diamond McCarthy, was appointed
Chapter 11 trustee for the Dreier law firm.  Ms. Gowan is
represented by Jason Porter, Esq., at Diamond McCarthy LLP.
Dickstein Shapiro LLP is the trustee's special trial counsel.

Wachovia Bank National Association; the Dreier LLP Chapter 11
Trustee; and Steven J. Reisman as post-confirmation representative
of the bankruptcy estate of 360networks (USA) Inc. signed a
petition that put Mr. Dreier into bankruptcy under Chapter 7 on
Jan. 26, 2009 (Bankr. S.D.N.Y. Case No. 09-10371).  Mr. Dreier
pleaded guilty to fraud and other charges in May 2009.  The
scheme to sell $700 million in fake notes unraveled in late 2008.
Mr. Dreier is serving a 20-year sentence in a federal prison in
Minneapolis.


MARTIFER SOLAR: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy cases:

     Debtor                               Case No.
     ------                               --------
     Martifer Solar USA, Inc.             14-10357
        fka A&M Home Improvement, Inc.
        fka A&M Energy Solution
     2040 Armacost Avenue, 2nd Floor
     Los Angeles, CA 90025

     Martifer Aurora Solar, LLC           14-10355
     2040 Armacost Avenue #2
     Los Angeles, CA 90025

Type of Business: The company provides solar energy solutions
                  throughout many key parts of the photovoltaic
                  value chain.

Chapter 11 Petition Date: January 21, 2014

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Hon. August B. Landis

Debtors' Counsel: Brett A. Axelrod, Esq.
                  FOX ROTHSCHILD LLP
                  3800 Howard Hughes Pkwy, Ste 500
                  Las Vegas, NV 89169
                  Tel: (702) 262-6899
                  Fax: (702) 597-5503
                  Email: baxelrod@foxrothschild.com

Debtors'          ARMORY CONSULTING CO.
Restructuring     James Wong, Chief Restructuring Officer
and Financial     3943 Irvine Blvd., Suite 253
Advisor:          Irvine, CA 92602
                  Tel: (714) 222-5552
                  Email: jwong@armoryconsulting.com

                 Estimated Assets       Estimated Debts
                 ----------------       ---------------
Martifer Solar   $10MM to $50MM         $10MM to $50MM
Martifer Aurora  $100,000 to $500,000   $1MM to $10MM

The petitions were signed by Roland Kiser, chief executive officer
of Martifer Solar.

A. List of Martifer Solar's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
EPG Solar, LLC                     Lawsuit          $1,700,000
5425 Wisconsin Ave., Suite 600
Chevy Chase Section Five,
MD 20815

SatCon Technology Corporation      Trade Debt         $537,044
Bankruptcy Estate
25 Drydock Ave.
Boston, MA 02210

CreoTecc                           Trade Debt         $422,711
11 Janis Way
Scotts Valley, CA 95066

Martifer Inovacao E Gestao, SA     Trade Debt         $323,455
Zona Industrial Olivelra de
Frades, Portugal

Stone River Electric               Trade Debt         $305,051
1244 Gallatin Pike South
Pleasant View, Tn 37146

Patriot Solar Group, LLC           Trade Debt         $282,939
1007 Industrial Avenue,
Albion, MI 49224-4008

Solar Optimum, Inc.                Trade Debt         $264,000
1010 N. Central Ave #390
501 W. Glenoaks Blvd. #555
Glendale, CA 91202

Northern Land Clearing, Inc.       Trade Debt         $110,173
1290 Park St. Palmer, MA
01069
P.O. Box 790
Palmer, MA 01069

AECOM Technical Services, Inc.     Trade Debt          $45,405

CLP                                Trade Debt          $47,411

E Light Electric Services, Inc.    Trade Debt         $147,422

Energy Generation Systems, LLC                         $45,650

PanelClaw                          Trade Debt          $85,530

R.B. Arello Company, Inc.                              $74,666

Sanborn Head & Associates, Inc.    Trade Debt         $109,403

Schietter, Inc.                    Trade Debt         $113,384

Security Construction Services     Trade Debt          $83,446
Inc.

Steol Rives LLP                    Trade Debt          $48,556

Talesun Solar USA Ltd              Trade Debt         $125,351

Triple Crown Solar                 Trade Debt         $184,794

B. List of Martifer Aurora's nine Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Cathay Bank                                           $6,302,000
High Technology Division
20111 Stevens Creek Blvd. #200
Cupertino, CA 95014

Ability to..., Inc.                                      Unknown

Bella Energy, Inc.                                       Unknown

California Franchise Tax Board                           Unknown

E Light Electric Services, Inc.                          Unknown

Martifer Construcoes                                     Unknown
Metalomecanicas, SA

Martifer Solar USA, Inc.                                 Unknown

Pfosi and Sons, LLC                                      Unknown

Shea Labagh Dobberstein                                  Unknown


MARTIFER SOLAR: Section 341(a) Meeting Scheduled for Feb. 20
------------------------------------------------------------
A meeting of creditors in the bankruptcy case of Martifer Solar
USA, Inc., will be held on Feb. 20, 2014, at 3:00 p.m. at 341s -
Foley Bldg, Rm 1500.  Creditors have until May 21, 2014, to submit
their proofs of claim.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

Martifer Solar USA, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. D. Nev. Case No. 14-10357) on Jan. 21, 2014.  The petition
was signed by Roland Kiser as chief executive officer.  The Debtor
estimated assets and debts of at least $10 million.  Brett A.
Axelrod, Esq., at Fox Rothschild LLP serves as the Debtor's
counsel.  Armory Consulting Co. is the Debtor's restructuring and
financial advisor.  The Hon. August B. Landis oversees the case.


MORGANS HOTEL: 40 North Mgt. Stake at 4.7% as of Jan. 16
--------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, 40 North Management LLC and its affiliates
disclosed that as of Jan. 16, 2014, they beneficially owned
1,604,954 shares of common stock of Morgans Hotel Group Co.
representing 4.78 percent of the shares outstanding.  40 North
previously reported beneficial ownership of 1,754,272 common
shares or 5.38 percent equity stake as of Sept. 11, 2013.  A copy
of the regulatory filing is available for free at:

                         http://is.gd/1mC57y

                     About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

The Company incurred a net loss attributable to common
stockholders of $66.81 million in 2012, a net loss attributable to
common stockholders of $95.34 million in 2011, and a net loss
attributable to common stockholders of $89.96 million in 2010.

The Company's balance sheet at Sept. 30, 2013, showed $572.83
million in total assets, $745.70 million in total liabilities,
$6.31 million in redeemable noncontrolling interest and
$179.18 million total deficit.


MONTREAL MAINE: Fortress Unit Wins Tuesday's Auction
----------------------------------------------------
The unit of New York-based Fortress Investment Group came away as
winner at the auction of substantially all of the assets of
Montreal Maine & Atlantic Railway, Ltd. and Montreal Maine &
Atlantic Canada Co., according to various reports.

Montreal Gazette says the Canadian and U.S. operations of MMA will
to go the Fortress unit for $15.7 million.

The auction was held Tuesday at the law offices of Bernstein,
Shur, Sawyer & Nelson, P.A., in Portland, Maine.  Citing trade
publication Atlantic Northeast Rails & Ports, mainebiz.biz
reported that the auction took less than 40 minutes.

The Fortress unit, Railroad Acquisitions Holdings LLC, served as
stalking horse bidder with an initial offer of $14.25 million.
mainebiz.biz said the final bid price was not immediately
revealed.  Robert Keach, Esq., the court-appointed Chapter 11
trustee for MM&A, has said the minimum bid was $15.7 million.

Competing bids were due Jan. 17.

Last week, the Portland Press Herald reported that an unidentified
company submitted an offer to buy the railway.

Montreal Gazette reports the second bid was made by Saint John,
N.B.-based J.D. Irving Ltd, for the Maine portion of MMA.  That
bid was not accepted, according to a statement issued by the
company.

The hearing to approve the sale will be held today, Jan. 23,
before Judge Louis H. Kornreich in Bangor, Maine.  Press Herald
said the U.S. Court in Bangor and the Superior Court of Quebec in
Sherbrook plan to hold simultaneous proceedings starting at 10:00
a.m.

Objections to the sale were due Jan. 22.

The Chapter 11 Trustee sought approval to auction the Debtor's
assets.  The Bankruptcy Courts in the U.S. and Canada on Dec. 19
both gave their stamp of approval on the procedures that will
govern the sale.

The Fortress unit is represented by Terence M. Hynes, Esq., and
Jeffrey C. Steen, Esq., at Sidley Austin LLP, according to
previous report by the Troubled Company Reporter.

                        About Montreal Maine

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.

Robert J. Keach, Esq., at Bernstein, Shur, Sawyer, and Nelson,
P.A., has been named as Chapter 11 trustee.  His firm serves as
his chapter 11 bankruptcy counsel, led by Michael A. Fagone, Esq.
Development Specialists, Inc., serves as the Chapter 11 trustee's
financial advisor.  Gordian Group, LLC, serves as the Chapter 11
Trustee's investment banker.

U.S. Bankruptcy Judge Louis H. Kornreich has been assigned to the
U.S. case.  The Maine law firm of Verrill Dana served as counsel
to MM&A.  It now serves as counsel to the Chapter 11 Trustee.

Justice Martin Castonguay oversees the case in Canada.

The Canadian Transportation Agency suspended the carrier's
operating certificate after the accident, due to insufficient
liability coverage.

The town of Lac-Megantic, Quebec, has sought financial aid to
restore the gutted community and a civil complaint alleges a
failure to take steps to prevent a derailment.

In the Canadian case, Andrew Adessky at Richter Consulting has
been appointed CCAA monitor.  The CCAA Monitor is represented by
Sylvain Vauclair at Woods LLP.

MM&A Canada is represented by Patrice Benoit, Esq., at Gowling
LaFleur Henderson LLP.

The U.S. Trustee appointed a four-member official committee of
derailment victims.  The Official Committee is represented by
Richard P. Olson, Esq., at Perkins Olson, and Luc A. Despins,
Esq., at Paul Hastings LLP.

There's also an unofficial committee of wrongful death claimants
consisting of representatives of the estates of the 46 victims.
This group is represented by George W. Kurr, Jr., Esq., at Gross,
Minsky & Mogul, P.A.; Daniel C. Cohn, Esq., at Murtha Cullina LLP;
Peter J. Flowers, Esq., at Meyers & Flowers, LLC; Jason C.
Webster, Esq., at The Webster Law Firm; and Mitchell A. Toups,
Esq., at Weller, Green Toups & Terrell LLP.

After the U.S. Trustee formed the Official Committee, the ad hoc
committee filed papers asking the U.S. Court to have the official
committee disbanded.  The ad hoc group said it represents 46
victims of the disaster.

There's a March 31, 2014 deadline for filing of claims related to
the July accident.


MOSS FAMILY: Feb. 25 Hearing on Adequacy of Plan Outline
--------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Indiana
will convene a hearing on Feb. 25, 2014, at 1:30 p.m., to consider
adequacy of information in the Amended Joint Disclosure explaining
Moss Family Limited Partnership, and Beachwalk, L.P.'s Amended
Joint Chapter 11 Plan dated Dec. 3, 2013.  Objections, if any, are
due seven days prior to the hearing.

A copy of the Disclosure Statement, amended as of Dec. 3, is
available for free at http://bankrupt.com/misc/MOSSFAMILY1ds.pdf

As reported in the Troubled Company Reporter on Sept. 13, 2013,
the Plan provides for this treatment of claims against and
interest in the Debtors:

     1. The allowed claim of Fifth Third ($1,726,698) will be
        satisfied from the sale of any or all parcels of the
        marketed real estate via auction.

     2. The allowed claim of Horizon ($1,122,743) will be
        satisfied by surrendering the real estate to Horizon by
        way of deeds in lieu; and the Debtors will retain the real
        estate with the remaining debt.

     3. Unsecured claims will be fully paid and satisfied by use
        of the proceeds from the sale of LaPorte Judgment Lien
        Property.  From the sale of every LaPorte Judgment Lien
        property, 20% of the net proceeds will be paid into an
        escrow account to be held and disbursed to unsecured
        creditors annually on a pro rata basis of unsecured claims
        until the time as the claims are paid in full, without
        interest.

     4. Prepetition interest in the Debtors will be retained
        by the holders of the same subject to the provisions
        of the Plan.  Each interest holder of both Debtors will
        receive 1/2 of the percentage they held in the prepetition
        Debtors in the reorganized consolidated Debtor.

The Plan will be executed by the substantive consolidation of the
Debtors' assets and liabilities.

                         About Moss Family

Moss Family Limited Partnership and Beachwalk, L.P., filed
Chapter 11 petitions (Bankr. N.D. Ind. Case Nos. 12-32540 and
12-32541) on July 17, 2012.  Judge Harry C. Dees, Jr., presides
over the case.  Daniel Freeland, Esq., at Daniel L. Freeland &
Associates, P.C., represents the Debtors.  Moss Family disclosed
$6,609,576 in assets and $6,299,851 in liabilities as of the
Chapter 11 filing.


NATIONAL FINANCIAL: Moody's Maintains 'B3' CFR; Outlook Stable
--------------------------------------------------------------
Moody's Investors Service says the ratings of National Financial
Partners Corp. (NFP - corporate family rating B3, probability of
default rating B3-PD) are not affected by its plan to borrow an
incremental $120 million under the accordion feature of its senior
secured term loan. The company plans to use net proceeds to repay
borrowings under its revolving credit facility that funded recent
management contract buyouts and acquisitions. In addition to the
corporate family rating, Moody's maintains a B2 rating on NFP's
senior secured credit facilities and a Caa2 rating on its senior
unsecured notes. The rating outlook for NFP is stable.

Ratings Rationale

NFP's ratings reflect its expertise and favorable market position
in insurance brokerage, particularly providing employee benefit
plans to mid-sized businesses. NFP's business is well diversified
across products, clients and regions spanning the US and Canada.
These strengths are tempered by the company's high financial
leverage and moderate interest coverage following a leveraged
buyout in July 2013. The rating agency expects that NFP will
continue to pursue a combination of organic revenue growth and
acquisitions, the latter giving rise to integration and contingent
risks.

NFP can absorb the incremental borrowing at its current rating
level based on its continuing revenue growth and fairly steady
EBITDA margins. Giving effect to the proposed borrowing, Moody's
estimates that NFP's pro forma debt-to-EBITDA ratio for the 12
months through September 2013 was in the range of 7x-7.5x. The
rating agency views such leverage as aggressive for the rating
category, and expects it to decline gradually as NFP increases its
EBITDA.

NFP's pro forma financing arrangement as of September 30, 2013,
included a $135 million senior secured revolving credit facility
maturing in 2018 (rated B2, unused after giving effect to
repayment), an $869 million senior secured term loan maturing in
2020 (rated B2, includes proposed incremental borrowing of $120
million) and $300 million of senior unsecured notes due in 2021
(rated Caa2).

Factors that could lead to an upgrade of NFP's ratings include:
(i) debt-to-EBITDA ratio below 5.5x , (ii) (EBITDA - capex)
coverage of interest consistently exceeding 2x, and (iii) free-
cash-flow-to-debt ratio consistently exceeding 5%.

Factors that could lead to a rating downgrade include: (i) debt-
to-EBITDA ratio above 8x, (ii) EBITDA - capex) coverage of
interest below 1.2x, or (iii) free-cash-flow-to-debt ratio below
2%.

Giving effect to the proposed incremental borrowing, NFP's ratings
(and revised loss given default (LGD) assessments) are as follows:

Corporate family rating B3;

Probability of default rating B3-PD;

Senior secured revolving credit facility maturing in July 2018
rated B2 (to LGD3, 35% from LGD3, 34%);

Senior secured term loan maturing in July 2020 rated B2 (to LGD3,
35% from LGD3, 34%);

Senior unsecured notes due in July 2021 rated Caa2 (to LGD5, 88%
from LGD5, 87%).

The methodologies used in this rating were Global Rating
Methodology for Insurance Brokers and Service Companies published
in February 2012, and Loss Given Default for Speculative-Grade
Non-Financial Companies in the U.S., Canada and EMEA published in
June 2009.

Based in New York City, NFP is a leading provider of benefits,
insurance and wealth management services to middle market
companies, high net worth individuals and independent financial
advisors. The company generated revenue of $1.1 billion for the 12
months through September 2013.


NESCO LLC: S&P Affirms 'B' Corp. Credit Rating on Sponsor Buyout
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B'
corporate credit rating on specialty equipment rental provider
NESCO LLC.  The outlook is stable.

At the same time, S&P assigned its 'B-' issue rating and '5'
recovery rating to the company's proposed $500 million senior
secured second-lien notes.  The '5' recovery rating indicates
S&P's expectation of modest (10%-30%) recovery in a payment
default scenario.  The company will also have a $250 million
asset-based revolving credit facility (unrated), about
$125 million of which will be drawn at the transaction's closing.
Jurassic Holdings III Inc., which will merge with and into NESCO
LLC, and NESCO Finance Corp. will coissue the notes.  The proceeds
will be used to fund the acquisition and repay existing notes.
S&P expects the transaction to close in early 2014.

The issue and recovery ratings on NESCO LLC's existing
$280 million senior secured second-lien notes will be withdrawn
upon repayment of the notes.

The rating on NESCO LLC reflects S&P's assessment of the company's
business risk profile as "weak" and its financial risk profile as
"highly leveraged."  S&P's "weak" competitive position assessment
reflects the company's limited scale, concentration in the
transmission and distribution end-market, and the highly
competitive industry.  The company's multiregional footprint,
young fleet age, and good EBITDA margin should continue to
somewhat offset its weaknesses.  S&P's assessment of NESCO LLC's
financial risk profile reflects its view of its ownership by
financial sponsor Energy Capital Partners and S&P's expectation
that the company will sustain financial leverage of about 5x-6x in
2014.

The outlook is stable.  "We expect that good demand for specialty
rental equipment for the electric power transmission and
distribution (T&D) industry should continue in the next 12
months," said Standard & Poor's credit analyst Svetlana Olsha.
"This should enable the company to operate with total debt to
EBITDA below 6x and positive free operating cash flow, which is in
line with our expectations for the rating."

S&P could lower the rating if NESCO LLC's operating performance
deteriorates, which could result from an unexpected decline in T&D
spending, or if the company's equipment purchases reduce
availability under the ABL and increase the likelihood that it
could breach a covenant.  S&P could also lower the rating if, for
instance, it expects debt to EBITDA to be more than 6x and free
operating cash flow to be negative.

S&P could raise the rating if the NESCO LLC's business remains
competitive, with healthy credit measures, and if S&P expects the
sponsor's financial policies to be consistent with a higher
rating.  For example, S&P could raise the rating if it expects
total debt to EBITDA and free operating cash flow to debt to be
sustained at less than 5x and more than 5%, respectively.


NETWORK CN: To Offer 8.8 Million Shares Under 2007 Incentive Plan
-----------------------------------------------------------------
Network CN Inc. filed a Form S-8 registration statement with the
U.S. Securities and Exchange Commission to register 8,800,000
shares of common stock issuable under the Company's Amended and
Restated 2007 Equity Incentive Plan.  The proposed maximum
aggregate offering price is $266,200.  A copy of the Form S-8
prospectus is available for free at http://is.gd/R54R8U

                         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.

The Company's balance sheet at Sept. 30, 2013, showed $1.05
million in total assets, $7.55 million in total liabilities and a
$6.50 million total stockholders' deficit.


NEWLEAD HOLDINGS: Issues Additional 2 Million Shares to Hanover
---------------------------------------------------------------
NewLead Holdings Ltd. issued and delivered to Hanover Holdings I,
LLC, 2,000,000 additional settlement shares pursuant to the terms
of the Settlement Agreement approved by the Supreme Court of the
State of New York, County of New York, on Dec. 2, 2013.

The Order approved, among other things, the fairness of the terms
and conditions of an exchange pursuant to Section 3(a)(10) of the
Securities Act of 1933, as amended, in accordance with a
stipulation of settlement among NewLead, Hanover, and MG Partners
Limited in the matter entitled Hanover Holdings I, LLC v. NewLead
Holdings Ltd., Case No. 160776/2013.  Hanover commenced the Action
against the Company on Nov. 19, 2013, to recover an aggregate of
$44,822,523 of past-due indebtedness of the Company, which Hanover
had purchased from certain creditors of the Company pursuant to
the terms of separate purchase agreements between Hanover and each
of those creditors.  The Order provides for the full and final
settlement of the Claim and the Action.  The Settlement Agreement
became effective and binding upon the Company, Hanover and MGP
upon execution of the Order by the Court on Dec. 2, 2013.

Pursuant to the terms of the Settlement Agreement approved by the
Order, on Dec. 6, 2013, the Company issued and delivered to MGP,
as Hanover's designee, 1,750,000 shares of the Company's common
stock, $0.01 par value.

A complete copy of the Form 6-K is available for free at:

                         http://is.gd/U5Cn76

                        About NewLead Holdings

Based in Athina, Greece, NewLead Holdings Ltd. --
http://www.newleadholdings.com/-- is an international, vertically
integrated shipping company that owns and manages product tankers
and dry bulk vessels.  NewLead currently controls 22 vessels,
including six double-hull product tankers and 16 dry bulk vessels
of which two are newbuildings.  NewLead's common shares are traded
under the symbol "NEWL" on the NASDAQ Global Select Market.

Newlead Holdings incurred a net loss of $403.92 million on $8.92
million of operating revenues for the year ended Dec. 31, 2012, as
compared with a net loss of $290.39 million on $12.22 million of
operating revenues for the year ended Dec. 31, 2011.  The Company
incurred a net loss of $86.34 million on $17.43 million of
operating revenues in 2010.

As of June 30, 2013, the Company had $84.27 million in total
assets, $166.18 million in total liabilities and a $81.91 million
total shareholders' deficit.

                        Going Concern Doubt

PricewaterhouseCoopers S.A., in Athens, Greece, 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 net loss, has negative cash flows
from operations, negative working capital, an accumulated deficit
and has defaulted under its credit facility agreements resulting
in all of its debt being reclassified to current liabilities, all
of which raise substantial doubt about its ability to continue as
a going concern.


NORMANDY SCHOOL DISTRICT: Bankruptcy Looms Absent State Funding
---------------------------------------------------------------
Chris Regnier, writing for Fox2Now, reports that Normandy School
District leaders say they need an emergency $5 million from state
lawmakers to stay open through the end of the school year.  If
they don't get it, Normandy could go bankrupt by April 1.  The
report says Missouri Education commissioner Chris Nicastro was set
to meet with leaders of the district Wednesday, Jan. 22.


NRG ENERGY: S&P Assigns 'BB-' Rating to $1.1BB Sr. Unsecured Notes
------------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'BB-'
issue rating to NRG Energy Inc.'s $1.1 billion senior unsecured
notes due 2022.  S&P also assigned its '3' recovery rating to the
debt.  With this debt issuance, Princeton, N.J.-based NRG has
about $9.2 billion of long-term recourse debt.  Nonrecourse debt
on the balance sheet is about $8.52 billion.  The outlook is
stable.

S&P's ratings reflect NRG's announcement that it will acquire
substantially all of Edison Mission Energy's (EME) assets for
$2.635 billion ($1.59 billion net of $1.06 billion of retained
cash).  NRG proposes to fund the acquisition with $350 million of
equity, about $1.6 billion of NRG and EME unrestricted cash, and
$700 million of debt issuance.  S&P has assumed that the
incremental amounts raised will be used for debt reduction.  If
consummated, the transaction will increase NRG's portfolio by
8,000 megawatts (MW) to about 54,000 MW.

RATINGS LIST

NRG Energy Inc.
  Corp. credit rating                   BB-/Stable/--

New Ratings
  $1.1 bil sr unsecd notes due 2022     BB-
  Recovery rating                       3


OLD SECOND: Offering $70 Million Worth of Common Shares
-------------------------------------------------------
Old Second Bancorp, Inc., filed with the U.S. Securities and
Exchange Commission a Form S-1 registration statement relating to
the offering of an undetermined shares of the Company's common
stock for a proposed maximum aggregate offering price of $70
million.

The Company's common stock is listed on the Nasdaq Global Select
Market under the symbol "OSBC."  As of Jan. 16, 2014, the closing
sale price for the Company's common stock on the Nasdaq Global
Select Market was $4.69 per share.

Keefe, Bruyette & Woods, Sandler O'Neill + Partners, L.P., and
FIG Partners, LLC, serve as underwriters of the offering.

A copy of the Form S-1 prospectus is available for free at:

                         http://is.gd/TEKOQA

                          About Old Second

Old Second Bancorp, Inc., is a financial services company with its
main headquarters located in Aurora, Illinois.  The Company is the
holding company of Old Second National Bank, a national banking
organization headquartered in Aurora, Illinois and provides
commercial and retail banking services, as well as a full
complement of trust and wealth management services.  The Company
has offices located in Cook, Kane, Kendall, DeKalb, DuPage,
LaSalle and Will counties in Illinois.

Old Second reported a net loss available to common stockholders of
$5.05 million in 2012 as compared with a net loss available to
common stockholders of $11.22 million in 2011.  The Company
incurred a net loss available to common stockholders of $113.18
million in 2010.

The Company's balance sheet at Sept. 30, 2013, showed
$2.03 billion in total assets, $1.89 billion in total liabilities
and $142.03 million in total stockholders' equity.


ONCOLOGIX TECH: Incurs $189-K Net Loss in Nov. 30 Quarter
---------------------------------------------------------
Oncologix Tech, Inc., filed its quarterly report on Form 10-Q,
reporting a net loss of $189,829 on $724,632 of revenues for the
three months ended Nov. 30, 2013, compared with a net loss of
$46,944 on $nil of revenues for three months ended Nov. 30, 2012.

The Company's balance sheet at Nov. 30, 2013, showed $2.07 million
in total assets, $2.44 million in total liabilities, and
stockholders' deficit of $378,757.

The Company has incurred losses from operations over the past
several years and anticipates additional losses in fiscal 2014 and
prior to achieving breakeven.  It has never been profitable and
had to rely on debt and equity financings to fund operations.
Significant delays in achieving breakeven status could affect the
ability to obtain future debt and equity funding.  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/o1lSFo

Oncologix Tech, Inc., through its subsidiaries, manufactures
medical devices, and provides personal care services.  The company
operates in two segments, Medical Device Manufacturing and
Personal Care Services.  The Medical Device Manufacturing segment
designs, develops, manufactures and distributes the Toxygen
hardware system with disposables speculums and tubing.  Its
products are primarily used for colon and bowel preparation prior
to medical procedures, such as a colonoscopy and OB/GYN medical
procedures, as well as for individuals seeking health and wellness
prevention and good colon health.  The Personal Care Services
segment provides non-medical, personal care attendant services,
supervised independent living, long-term senior care, and other
approved programs.  The company was formerly known as BestNet
Communications Corp. and changed its name to Oncologix Tech, Inc.
in January 2007. Oncologix Tech, Inc. was founded in 1995 and is
based in Pineville, Louisiana.


PAR PHARMACEUTICAL: Moody's Reviews B2 CFR for Possible Downgrade
-----------------------------------------------------------------
Moody's Investors Service placed the ratings of Par Pharmaceutical
Companies, Inc., including the B2 Corporate Family Rating, under
review for possible downgrade following the announcement that Par
will acquire JHP Pharmaceuticals for $490 million. JHP
manufactures branded and generic sterile injectable products and
also is a contract manufacturer of sterile injectable
pharmaceuticals.

The following ratings were placed under review:

  Corporate Family Rating, B2

  Probability of Default Rating, B2-PD

  $150 million senior secured revolving credit facility, B1
  (LGD 3, 33%)

  $1.06 billion senior secured term loan, B1 (LGD 3, 33%)

  $490 million senior unsecured notes, Caa1 (LGD 5, 86%)

Ratings Rationale

The ratings review reflects the potential for increased leverage
stemming from the acquisition of JHP. Par has obtained commitments
for up to $505 million in debt financing to fund the acquisition.
This comes at a time when Par's trailing twelve month leverage on
a stand-alone basis is elevated because new product launches (such
as generic versions of Maxalt and Lamictal) have not completely
offset declines in older products, namely generic Toprol-Xl and
Provigil. Moody's estimates Par's adjusted debt to EBITDA for the
twelve months ended September 30, 2013 approximated 6.6x. This
calculation does not add-back certain expenses, such as litigation
and non-cash compensation expense-- that are allowed to be added
back to EBITDA under the company's credit agreement.

Further, while the acquisition of JHP will add product diversity
to Par through the addition of JHP's 14 currently marketed
specialty injectable products, Moody's views the manufacturing of
sterile injectible products as having higher regulatory and
quality compliance risk than traditional oral solids. Unlike most
traditional oral solids, injectable drugs require specialized
manufacturing and handling processes due to higher risk of
contamination and infection from direct injection into the body.

In addition, the rating review will evaluate the potential for
synergies between Par and JHP and the valuation of the
acquisition. JHP was acquired by Warburg Pincus LLC in December
2012 for $195 million, indicating that Par is paying a significant
premium for the asset.

Some of Moody's concerns are likely to be mitigated by Par's free
cash flow and liquidity, which should continue to be good
following the acquisition.

The principal methodology used in this rating was the Global
Pharmaceutical Industry published in December 2012. Other
methodologies used include Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA
published in June 2009.

Headquartered in Woodcliff Lake, New Jersey, Par Pharmaceutical
Companies, Inc. is a specialty generic and branded pharmaceutical
company operating primarily in the United States. The company
reported in excess of $1 billion of total revenues for the twelve
months ended September 30, 2013. The company is owned TPG Capital,
L.P.


PEROXYCHEM HOLDINGS: S&P Assigns 'B' CCR & Rates $155MM Debt 'B+'
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to PeroxyChem Holdings L.P.  At the same time, S&P
assigned its 'B+' issue-level rating to the company's proposed
$155 million senior secured credit facilities, with a recovery
rating of '2', indicating S&P's expectation for substantial (70%
to 90%) recovery in the event of a payment default.  All ratings
are based on preliminary terms and conditions.  The outlook is
stable.

The proposed senior secured credit facilities will be issued by
PeroxyChem LLC.  The $135 million term loan along with common
equity from One Equity Partners will fund the purchase of
PeroxyChem, pay transaction fees and expenses, and pre-fund a
modest amount for integration expenses.  The new $20 million
revolving credit facility is expected to be undrawn at close.

"The ratings on PeroxyChem reflect our assessment of liquidity as
'less than adequate,' our expectation that free cash flow
generation will remain weak, and also take into account the
company's exposure to cyclical end markets, particularly in its
industrial segments," said Standard & Poor's credit analyst Daniel
Krauss.  The company's reasonable level of debt leverage at close
of the transaction and its continued shift to focus on more
specialty segments represent some of its credit strengths.  We
characterize the company's business risk profile as "weak" and its
financial risk profile as "highly leveraged".

With annual revenues of about $330 million, PeroxyChem is
primarily a North American-based producer of hydrogen peroxide,
persulfates, peracetic acid, and other chemicals.  These chemicals
are used for their cleaning, whitening, and disinfection
properties in a range of specialty and industrial end markets.
Some specific applications include: the disinfection of poultry,
bleaching for pulp and paper, elimination of contaminants in soil
and groundwater, and as breakers in the hydraulic fracturing
(fracking) process.

The stable outlook reflects S&P's expectation for modestly
improving operating performance in 2014, which should allow the
company to maintain credit metrics which S&P considers appropriate
for the current rating, including FFO to debt of above 15%.  S&P
believes that modestly improving EBITDA and tighter working
capital management should allow the company to fund its growth
capital expenditures in a manner such that liquidity does not
deteriorate meaningfully from current levels.  S&P expects that
the company should benefit over the next one to two years from
greater-than-GDP growth rates in certain specialty end markets,
which should help offset the cyclicality in its industrial end
markets, particularly the declining pulp and paper sector.  In
S&P's base-case scenario, it expects that in 2014 and 2015 the
company will maintain credit metrics in line with its expectations
at the current rating, including FFO to total adjusted debt of
above 15% and adjusted debt to EBITDA of about 4x.

"We could raise the ratings by one notch if the company is able to
strengthen earnings and generate modestly positive free cash flow
in 2014, allowing it to improve its liquidity position to levels
more in line with an "adequate" assessment.  This includes having
sources over uses in excess of 1.2x, even after considering
potential growth capital expenditure spending and peak working
capital outflows within a given year.  Based on our scenario
forecasts we could consider a higher rating if EBITDA margins rise
by 100 basis points or more from expected 2013 levels, along with
revenue growth in excess of 5%.  In such a scenario, we would
expect an improvement in the company's liquidity position and
about 3x debt to EBITDA," S&P said.

The ratings could come under pressure if the downside risks to
S&P's forecast were to materialize, such as a significant
operating disruption to the company's key manufacturing site, or a
substantial reduction in demand for one of the company's higher-
margin products.  S&P also views the possibility of a spike in raw
material costs or a meaningful working capital outflow, as a key
risk factor for liquidity.  Based on S&P's downside scenario, it
could consider a negative rating action if revenues fell by 10% or
more, coupled with a drop in EBITDA margins of 300 basis points
from our 2013 expectations.  At this point, S&P would expect that
available liquidity would drop below $10 million and that debt to
EBITDA would exceed 5x.


PFS HOLDING: Moody's Assigns First Time 'B2' CFR; Outlook Stable
----------------------------------------------------------------
Moody's Investors Service assigned a first time B2 Corporate
Family Rating ("CFR") to PFS Holding Corporation, the holding
company for its operating subsidiary Phillips Pet Food and
Supplies. Moody's also assigned a B1 rating to the company's new
$260 million senior secured first lien term loan due 2021 and a
Caa1 rating to the new $130 million senior secured second lien
term loan due 2022. Proceeds from the term loans are being used to
finance Thomas H. Lee Partners' acquisition of the company from
its previous financial sponsor, AEA. Pro forma for the
acquisition, Thomas H. Lee Partners will own the majority of the
equity, with a meaningful minority stake held by members of the
management team. The rating outlook is stable.

The following ratings are assigned to PFS Holding Corporation:

- Corporate Family rating at B2;

- Probability of Default Rating at B2-PD;

- $260 million senior secured first lien term loan expiring in
   January 2021 at B1 (LGD 3, 42%);

- $130 million second lien term loan due 2022 at Caa1 (LGD 5,
   87%);

The rating outlook is stable.

Ratings Rationale

"While leverage is high and margins narrow, the combination of
PFS's national distribution platform coupled with the favorable
growth fundamentals for the pet product category is expected to
drive relatively stable earnings growth and modest deleveraging
over the next 12 to 18 months," said Moody's Senior Analyst Nancy
Meadows. "That said, we also think that PFS is likely to continue
to pursue acquisitions, albeit at a more subdued pace," she added.

PFS's B2 Corporate Family Rating ("CFR") reflects the company's
highly leveraged capital structure, narrow margins, and aggressive
growth via acquisitions. These factors are partially offset by the
company's national distribution platform as the largest pet food
and supply distributor in the US and good customer and vendor
diversity. The rating also reflects the benefit of good growth
prospects for the pet product industry overall. The company's
liquidity is very good, and will be supported by modest free cash
flow in addition to the company's revolving credit facility.

The stable outlook reflects Moody's expectation for continued
strength in the pet food and supply category and the competitive
advantage PFS enjoys as the largest domestic distributor in a
fragmented industry. The stable outlook also reflects Moody's
expectation that PFS will generate enough free cash flow which
will support modest deleveraging over the next 12 to 18 months.

PFS's ratings could be upgraded if the company is able to
strengthen its credit metrics such that debt to EBITDA is below
4.5 times on a sustained basis while improving its free cash flow.
Other factors that could contribute to an upgrade include
expanding its geographic footprint and improving EBIT margins
above 5% on a sustained basis. Alternatively, a downgrade could
occur if operating performance were to deteriorate such that
leverage exceeds 7 times on a sustained basis. A downgrade may
also occur if liquidity were to weaken as a result of cash usage
in owner-friendly transactions or large debt-funded acquisitions.

Easton, Pennsylvania-based PFS Holding Corporation (along with its
operating subsidiary Phillips Pet Food & Supplies), is a leading
pet food and pet supply distributor in the U.S., servicing
independent pet retail stores (85% of revenues), online retailers
(8% of sales) and other channels such as veterinarians, groomers,
and other specialty outlets (5% of sales). For the twelve months
ended September 30, 2013 the company posted pro forma revenues in
excess of $800 million.

The company is expected to be acquired by Thomas H. Lee Partners
in January 2014. Pro forma for the acquisition, Thomas H. Lee will
own a majority of the equity, with a meaningful minority stake
held by management.

The principal methodology used in this rating was the Global
Distribution & Supply Chain Services published in November 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.


PHARMEDIUM: Moody's Says 1st Lien Loan Upsize is Credit Negative
----------------------------------------------------------------
Moody's Investors Service commented that PharMEDium's proposed
upsizing of its First Lien Term Loan by $40 million is credit
negative. However, the B3 Corporate Family Rating and other
ratings are not affected.

The principal methodology used in this rating was the 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.

Headquartered in Lake Forest, Illinois, PharMEDium is a national
provider of hospital pharmacy-outsourced sterile compounding
services. It provides sterile ready-to-use (RTU) intravenous drug
therapy to hospitals. The company maintains four compounding
centers located in TX, MS, TN and NJ.


PLEXTRONICS INC: Seeks Authority to Obtain $1.6-Mil. DIP Loans
--------------------------------------------------------------
Plextronics, Inc., seeks authority from the U.S. Bankruptcy Court
for the District of Delaware to obtain up to $1,660,000 in
postpetition senior secured superpriority financing from Solvay
America, Inc.

The DIP Note calls for the accrual of simple interest at the rate
of 12% per annum on the outstanding principal balance.  The
principal amount advanced under the DIP Note, together with any
interest accrued thereon, constitute a component of the credit bid
being presented by Solvay in its asset purchase agreement with the
Debtor.  All unpaid principal, together with accrued and unpaid
interest thereon, will be due and payable on the earlier of (i)
April 21, 2014 or (ii) the date on which the (x) the assets of the
Debtor are sold to Solvay or (y) the commitments terminate
pursuant to the DIP Loan Agreement.

The DIP Loan Agreements require the Debtor to have the proposed
sale of its assets approved by the Bankruptcy Court on or before
March 7, 2014, and have the sale consummated on or before
March 20.  Unless these and other conditions are met, the terms of
the DIP Loan Agreements will terminate.

The Debtor is represented by Mark T. Hurford, Esq., and Ayesha C.
Bennett, Esq., at Campbell Levine, LLC, in Wilmington, Delaware;
and Stanley E. Levine, Esq., and Paul J. Cordaro, Esq., at
Campbell Levine, LLC, in Pittsburgh, Pennsylvania.

                      About Plextronics Inc.

Headquartered in Pittsburgh, Pennsylvania, Plextronics, Inc. --
http://www.plextronics.com-- specializes in conductive polymers
and printable formulations that enable advanced electronic
devices.  The company's develops customized inks to enhance the
performance of organic light emitting diodes (OLEDs) for next
generation displays and lighting applications, lithium ion
batteries, polymer metal capacitors, and emerging organic
electronic devices.

The privately held company was founded in 2002 as a spinout from
Carnegie Mellon University based upon conductive polymer
technology developed by Dr. Richard McCullough.

Plextronics, Inc. on Jan. 16, 2014, filed a Chapter 11 bankruptcy
petition (Bankr. D. Del. Case No. 14-10080) with plans to sell its
assets to Solvay America, Inc., absent higher and better offers.

The Debtor estimated assets and debt of $10 million to $50 million
as of the bankruptcy filing.

Campbell & Levine, LLC in Pittsburgh is serving as the
Plextronics' legal advisors.  New York-based Cowen and Company,
LLC is serving as its investment banker.


PLEXTRONICS INC: Seeks Authority to Use Cash Collateral
-------------------------------------------------------
Plextronics, Inc., seeks authority from the U.S. Bankruptcy Court
for the District of Delaware to use the cash collateral of its
prepetition investors.  The Investors have consented to the
priming of the prepetition liens by the DIP liens.

The Debtor will use the cash collateral and the DIP Loan to
preserve its assets pending the conduct of an action sale before
the Court.  The DIP Facility contemplates that the Debtor will
first use available cash collateral to satisfy obligations, and
then use proceeds from the DIP Facility.

The Debtor is represented by Mark T. Hurford, Esq., and Ayesha C.
Bennett, Esq., at Campbell Levine, LLC, in Wilmington, Delaware;
and Stanley E. Levine, Esq., and Paul J. Cordaro, Esq., at
Campbell Levine, LLC, in Pittsburgh, Pennsylvania.

                      About Plextronics Inc.

Headquartered in Pittsburgh, Pennsylvania, Plextronics, Inc. --
http://www.plextronics.com-- specializes in conductive polymers
and printable formulations that enable advanced electronic
devices.  The company's develops customized inks to enhance the
performance of organic light emitting diodes (OLEDs) for next
generation displays and lighting applications, lithium ion
batteries, polymer metal capacitors, and emerging organic
electronic devices.

The privately held company was founded in 2002 as a spinout from
Carnegie Mellon University based upon conductive polymer
technology developed by Dr. Richard McCullough.

Plextronics, Inc. on Jan. 16, 2014, filed a Chapter 11 bankruptcy
petition (Bankr. D. Del. Case No. 14-10080) with plans to sell its
assets to Solvay America, Inc., absent higher and better offers.

The Debtor estimated assets and debt of $10 million to $50 million
as of the bankruptcy filing.

Campbell & Levine, LLC in Pittsburgh is serving as the
Plextronics' legal advisors.  New York-based Cowen and Company,
LLC is serving as its investment banker.


PLEXTRONICS INC: Files Schedules of Assets and Liabilities
----------------------------------------------------------
Plextronics, Inc., filed with the U.S. Bankruptcy Court for the
District of Delaware its schedules of assets and liabilities
disclosing the following:


                                              Assets   Liabilities
                                            ---------- -----------
  A. Real Property                                  $0
  B. Personal Property                       2,124,292
  C. Property Claimed as Exempt                      0
  D. Creditors Holding Secured Claims                  $30,156,248
  E. Creditors Holding Unsecured
        Priority Claims                                     57,262
  F. Creditors Holding Unsecured
        Nonpriority Claims                               3,668,907
                                            ---------- -----------
     TOTAL                                  $2,124,292 $33,882,418
                                            ========== ===========

Full-text copies of the Schedules are available for free at:

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

                      About Plextronics Inc.

Headquartered in Pittsburgh, Pennsylvania, Plextronics, Inc. --
http://www.plextronics.com-- specializes in conductive polymers
and printable formulations that enable advanced electronic
devices.  The company's develops customized inks to enhance the
performance of organic light emitting diodes (OLEDs) for next
generation displays and lighting applications, lithium ion
batteries, polymer metal capacitors, and emerging organic
electronic devices.

The privately held company was founded in 2002 as a spinout from
Carnegie Mellon University based upon conductive polymer
technology developed by Dr. Richard McCullough.

Plextronics, Inc. on Jan. 16, 2014, filed a Chapter 11 bankruptcy
petition (Bankr. D. Del. Case No. 14-10080) with plans to sell its
assets to Solvay America, Inc., absent higher and better offers.

The Debtor estimated assets and debt of $10 million to $50 million
as of the bankruptcy filing.

Campbell & Levine, LLC in Pittsburgh is serving as the
Plextronics' legal advisors.  New York-based Cowen and Company,
LLC is serving as its investment banker.


PLEXTRONICS INC: Has Deal to Sell to Solvay for $32.6 Million
-------------------------------------------------------------
Plextronics, Inc., asks the Bankruptcy Court to approve the sale
of substantially all of its assets to Solvay America, Inc., the
Debtor's primary secured lender and shareholder, for a purchase
price of $32,612,276.  On the Closing Date, Solvay will
pay $24,089,304 of the Purchase Price in the form of a credit bid
and the balance of $8,522,972 in cash.

All of the purchased assets will be transferred "as is," "where
is" and " with all faults."  The Debtor intends to use the
proceeds of the sale to pay its secured lenders in full.

"Absent a prompt sale, the value of the Debtor's assets will
decline because of the Debtor's ongoing cash flow difficulties,"
says Mark T. Hurford, Esq., at Campbell & Levine, LLC, proposed
counsel to the Debtor.

Prior to the Petition Date, the Debtor determined that the best
way to maximize value for its stakeholders would be to market its
assets for sale as a going concern.  Towards that end, commencing
in or about July 2013 and continuing until December 2013, the
Debtor and Cowen and Company, LLC, conducted a marketing process
for the sale of substantially all of the Debtor's assets.

The Debtor and Cowen were unable to identify a buyer ready and
able to close within said sale and marketing timeframe.  Upon
determining that the sale process would not produce a timely sale
and it became clear the Debtor would not be able to meet the
conditions for future funding under its senior secured credit
documents, the Debtor and Solvay commenced negotiations for the
potential sale and purchase of the Debtor's assets.  These good
faith arms length negotiations resulted in a written term sheet
and ultimately culminated in the execution of the Stalking Horse
APA.

To maximize value of its estate for the benefit of all interested
parties, the Debtor is seeking to conduct an auction pursuant to
the bidding procedures.  The Proposed Bidding Procedures will
allow and encourage interested parties to submit competing bids at
the Auction.  The Bidding Procedures contemplate that prospective
purchasers must submit all-cash bids by Feb. 28, 2014, and that,
if more than one "Qualified Bid" is received, an auction will be
conducted on March 5, 2014.  The bid already submitted by Solvay
under the Stalking Horse APA is deemed to constitute a Qualified
Bid for purposes of the Bidding Procedures.  Among other
requirements, bidders will be required to submit bids marked to
show any variations from the Stalking Horse Bid.  For a bid to be
considered a Qualified Bid, it must execeed the Stalking Horse Bid
by at least 5 percent.  The Auction will proceed in minimum
increments of at least $100,000.

Upon the selection of a winning bid, the Debtor will seek approval
for the sale of the Purchased Assets to the successful bidder
pursuant to the executed form of the Stalking Horse APA at a sale
hearing to be conducted not later than March 7, 2014.

To facilitate and consummate the sale of the Purchased Assets, the
Debtor seeks authority to assume and assign certain executory
contracts and unexpired leases following the Auction, if any,
pursuant to Section 365(f) of the Bankruptcy Code under the
Stalking Horse APA.

The Debtor has agreed to reimburse Solvay for actual and
reasonable expenses associated with the Stalking Horse APA.  The
Debtor fixed the Stalking Horse Bidder's expense reimbursement
right at $500,000.

                       About Plextronics Inc.

Headquartered in Pittsburgh, Pennsylvania, Plextronics, Inc. --
http://www.plextronics.com-- specializes in conductive polymers
and printable formulations that enable advanced electronic
devices.  The company's develops customized inks to enhance the
performance of organic light emitting diodes (OLEDs) for next
generation displays and lighting applications, lithium ion
batteries, polymer metal capacitors, and emerging organic
electronic devices.

The privately held company was founded in 2002 as a spinout from
Carnegie Mellon University based upon conductive polymer
technology developed by Dr. Richard McCullough.

Plextronics, Inc. on Jan. 16, 2014, filed a Chapter 11 bankruptcy
petition (Bankr. D. Del. Case No. 14-10080) with plans to sell its
assets to Solvay America, Inc., absent higher and better offers.

The Debtor estimated assets and debt of $10 million to $50 million
as of the bankruptcy filing.

Campbell & Levine, LLC in Pittsburgh is serving as the
Plextronics' legal advisors.  New York-based Cowen and Company,
LLC is serving as its investment banker.


PLY GEM HOLDINGS: Prices $500 Million Senior Notes Offering
-----------------------------------------------------------
Ply Gem Industries, Inc., a wholly-owned subsidiary of Ply Gem
Holdings, Inc., commenced an offering of $500,000,000 aggregate
principal amount of senior unsecured notes due 2022.

On Jan. 16, 2014, the Company priced $500,000,000 aggregate
principal amount of 6.50 percent senior unsecured notes due 2022
at an issue price of 100 percent, plus accrued and unpaid
interest, if any.  The closing of the offering is expected to
occur on Jan. 30, 2014, and is subject to a number of conditions,
including the substantially concurrent closing of the Company's
new senior secured term loan facility.

The Company issued a notice of redemption pursuant to the
indenture governing its 9.375 percent Senior Notes due 2017 that
it intends to redeem, subject to the financing condition, all of
its outstanding Old Senior Notes on Feb. 16, 2014, at a redemption
price equal to 100.00 percent of the principal amount of the Old
Senior Notes, plus the Applicable Premium as of, and accrued and
unpaid interest thereon, if any, to the redemption date.

The Redemption is conditioned on the completion of one or more
debt financings on or prior to the Redemption Date by the Company,
on terms satisfactory to the Company providing funds sufficient
for the Company to pay the aggregate Redemption Price for the Old
Senior Notes on the Redemption Date and to repurchase or redeem
all of the Company's outstanding 8.25 percent senior secured notes
due 2018.

                           About Ply Gem

Based in Cary, North Carolina, Ply Gem Holdings Inc. is a
diversified manufacturer of residential and commercial building
products, which are sold primarily in the United States and
Canada, and include a wide variety of products for the residential
and commercial construction, the do-it-yourself and the
professional remodeling and renovation markets.

Ply Gem Holdings incurred a net loss of $39.05 million in 2012, as
compared with a net loss of $84.50 million in 2011.  The Company's
balance sheet at Sept. 28, 2013, showed $1.08 billion in total
assets, $1.12 billion in total liabilities and a $37.69 million
total stockholders' deficit.

                           *     *     *

In May 2010, Standard & Poor's Ratings Services raised its
(unsolicited) corporate credit rating on Ply Gem to 'B-' from
'CCC+'.  "The ratings upgrade reflects our expectation that the
company's credit measures are likely to improve modestly over the
next several quarters to levels that we would consider more in
line with the 'B-' corporate credit rating," said Standard &
Poor's credit analyst Tobias Crabtree.


PMC MARKETING: Landlord Wins Summary Judgment in Trustee's Suit
---------------------------------------------------------------
In the chapter 7 bankruptcy case of PMC Marketing Corp.,
Bankruptcy Judge Brian K. Tester ruled on motions for summary
judgment filed by parties in the lawsuit, NOREEN WISCOVITCH RENTAS
CHAPTER 7 TRUSTEE, Plaintiff, v. AGUADILLA SHOPPING CENTER INC,
Defendants, Adv. Proc. No. 12-00104 (Bankr. D.P.R.).

The Chapter 7 Trustee filed the complaint to recover rent payments
in the amount of $4,160.00, plus attorney fees and costs, saying
the payment is subjected to avoidance provisions of 11 U.S.C. Sec.
547.

PMC leased a commercial space from Aguadilla Shopping Center on a
month-to-month basis for a monthly rent of $4,160 per month.
Subsequently, the Debtor fell into substantial arrears in its
lease obligations to the Defendant.  The last pre-petition check
for rent was delivered to the Defendant on Oct. 31, 2008.  The
Debtor continued to occupy the leased commercial space after its
bankruptcy filing and moved to assume its lease with Aguadilla
Shopping Center on Oct. 14, 2009.  Shortly thereafter, the Debtor
revoked this assumption of lease.

The Defendant argues there are no genuine issues as to any
material facts and that therefore it is entitled to judgment as a
matter of law.  Specifically, the Defendant argues that the
Chapter 7 Trustee failed to make an allegation specifying when an
alleged voidable transfer occurred.

Judge Tester granted the Defendant's Motion for Summary Judgment
and denied the Plaintiff's Counter Motion for Summary Judgment.

A copy of the Court's Jan. 16, 2014 Amended Opinion and Order is
available at http://is.gd/D4Au13from Leagle.com.


PUBLIC BIKE: Bike-Sharing Service Files for Bankruptcy in Canada
----------------------------------------------------------------
The Public Bike System Company, known in French as the Societe de
velos en libre-service (SVLS), which owns the bike-sharing service
Bixi, has sought protection from creditors through Canada's
Bankruptcy and Insolvency Act.

Montreal Mayor Denis Coderre made the announcement Monday
afternoon, according to CBC News.  Montreal is taking over the
service's local operation.

PBSC owes $50 million to various creditors, including the City of
Montreal, according to CBC News.  The report relates Mayor Coderre
said rather that sinking more money into the SVLS, a private
company, the city would take over Bixi's Montreal assets.  He said
they are worth approximately $11 million.

Forbes contributor Micheline Maynard, citing an article by
transportation reporter Andy Riga in the Montreal Gazette, said
five big debts from the Bixi bankruptcy are:

     1. New York and Chicago owe Bixi $5.3 million, withheld by
        because of delays in implementing software across the
        Citibike and Divvy Bikes systems respectively.

     2. Alta Bike Share, which operates Citibike for New York,
        wants $11 million from Bixi because of those software
        delays.

     3. Bixi owes Montreal and its taxpayers a minimum of
        $38 million. About $31.6 million is owed on a $37 million
        loan from the city. Another $6.4 million is owed on a line
        of credit guaranteed by Montreal taxpayers.

     4. Suppliers are owned $9 million by Bixi.

     5. It could cost $1.5 million more for Montreal to run the
        Bixi system in 2014.

Meanwhile, Fran Spielman, writing for Chicago Sun-Times, reports
that Chicago Mayor Rahm Emanuel's administration acknowledged on
Jan. 21 that it has withheld $2.1 million from PBSC, which
supplies for Chicago's Divvy bike-sharing program, because bikes
and station parts were not delivered on time and software was not
updated.  The report says Chicago Department of Transportation
spokesman Peter Scales said the $2.1 million still being withheld
from the supplier, also known as Bixi, stemmed from the fact that,
"bikes, station parts and software updates did not arrive" by
promised delivery dates.

"It hasn't impacted operations, but it did delay the rollout of
some of the stations. We started with 70 and ended with 300, but
it took longer than we had scheduled," Mr. Scales said, refusing
to say when the bankrupt supplier would be paid.

Mr. Scales said "PBSC will continue to operate while going through
bankruptcy, just like a whole bunch of other companies have done.
It's a legal maneuver to restructure and eliminate debt. But, it
doesn't necessarily affect production or operations."


PULTEGROUP INC: Moody's Rasies CFR to 'Ba2', Outlook Stable
-----------------------------------------------------------
Moody's Investors Service upgraded all of the ratings of
PulteGroup, Inc., including its corporate family rating to Ba2
from Ba3, probability of default rating to Ba2-PD from Ba3-PD, and
the ratings for various issues of senior unsecured notes to Ba2
from Ba3. The SGL-2 speculative grade liquidity rating was
affirmed. The rating outlook is stable.

The following rating actions were taken:

Corporate family rating, upgraded to Ba2 from Ba3;

Probability of default rating, upgraded to Ba2-PD from Ba3-PD;

Senior unsecured notes rating, upgraded to Ba2 (LGD4-55%) from Ba3
(LGD-4, 54%);

Speculative grade liquidity rating, affirmed at SGL-2.

The rating outlook is stable.

Ratings Rationale

The rating upgrade reflects the positive operating momentum of the
company, which resulted in many of its key credit metrics
approaching or meeting the targets Moody's has set as triggers for
an upgrade to the Ba2 rating level. Pulte's gross margins improved
from 13.4% in 2011 to 15.8% in 2012, and further to 17% in the LTM
period ending September 30, 2013. Moody's notes that Pulte's gross
margins are somewhat understated in that the company includes a
portion of its selling expenses (which would normally fall into
SG&A) in its cost of goods sold. Interest coverage and return on
assets improved from negative territory in 2010 to 3.6x and 8.2%,
respectively, at LTM September 30, 2013. In addition, since 2010,
when the company carried its peak debt levels, it has been able to
retire about $2.44 billion of debt out of cash flow, causing the
peak adjusted debt leverage of 66% to decline to 48.6% at Q2 2013.
In Q3 2013, moreover, the reversal of $2.1 billion of its deferred
tax asset valuation allowance (together with growing net income)
caused the adjusted homebuilding debt to capitalization ratio to
decline even further, to 32.7%, and net worth to rise to $4.5
billion from $2.1 billion. It is Moody's expectation that the
homebuilding industry recovery, that will continue in 2014 and
into 2015, will result in further strengthening of Pulte's credit
metrics and top line growth.

The Ba2 corporate family rating reflects Pulte's reduced debt
leverage of 32.7%, large cash position currently standing at $1.35
billion, track record of strong positive cash flow generation,
growing gross margins, and disciplined land and investment
strategies (compared to many of its peers that are forced to
pursue land investments more aggressively). Pulte's land position,
currently at eight years of total land supply, ensures that it
will not be forced to bid aggressively on assets in order to
replenish a depleted lot supply. The ratings also acknowledge that
the company's merger with Centex in 2009 and the resulting
improvement in size, scale and diversification is now allowing it
to reap the benefits as the homebuilding industry experiences
solid growth.

At the same time, Moody's recognizes that while Pulte's gross
margins are improving and do include some commission expense that
most other builders put in SG&A, they still lag the other Ba-rated
homebuilders. In addition, Pulte's orders and community count
growth will be slower than those of most of its peers for the next
12 to 18 months, which will lead to slower-than-industry average
revenue and earnings growth.

The stable outlook reflects Moody's expectation that Pulte will
continue expanding its size and scale and grow its net worth from
earnings generation over the next 12 to 18 months, which will
benefit most of its credit metrics, as the industry experiences
positive demand and pricing trends.

All of the homebuilding debt of both PulteGroup, Inc. and the
remaining outstanding debt of Centex Corporation is guaranteed by
the principal operating subsidiaries of both Pulte and Centex.

Pulte's solid liquidity profile is reflected in its SGL-2
speculative grade liquidity rating. The company's liquidity is
supported by its strong cash flow generation ($760 million and
$555 million of cash flow from operations in 2012 and in the nine
months of 2013, respectively), large cash position of about $1.35
billion at September 30, 2013, absence of substantial debt
maturities until February and June of 2015 when $96 million and
$232 million of senior notes, respectively, are due, as well as
its diversified and unencumbered total lot supply of about eight
years. The company's liquidity position allows it the flexibility
to continue investing cash back into the business and to focus on
margin improvement. The company currently does not have a
revolving credit facility and therefore does not have financial
maintenance covenants with which to comply.

The outlook and/or ratings could benefit if the company improves
its profitability, maintains its strong liquidity, and continues
to keep debt leverage low. Specifically, the upgrade triggers
would include gross margins above 21%, an EBIT return on average
assets above 12%, and an adjusted EBIT interest coverage above
4.5x - all on a sustained basis. In addition, if the company can
continue to maintain the lowest or near lowest debt leverage in
the industry, that would be given strong consideration.

The rating could be lowered if the company jeopardized its strong
liquidity position by engaging in large land purchases or
substantial share buy-backs, experienced a material erosion in its
gross margins, or if its debt leverage began to increase and
remained above 50%.

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

Founded in 1950 and soon-to-be headquartered in Atlanta, Georgia,
PulteGroup, Inc. is the country's second largest homebuilder, with
operations in 50 markets and 28 states. Through its brand names
that include Centex, Pulte Homes and Del Webb, the company has one
of the broadest product and price point offerings in the industry.
Revenues and net income for the trailing 12-month period ended
September 30, 2013 were approximately $5.4 billion and $341
million (excluding the impact of the deferred tax valuation
allowance reversal), respectively.


QUANTUM FUEL: Kevin Douglas Stake at 19.9% as of Jan. 18
--------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Kevin Douglas and his affiliates disclosed
that as of Jan. 18, 2014, they beneficially owned 7,298,575 shares
of common stock of Quantum Fuel Systems Technologies Worldwide,
Inc., representing 19.99 percent of the shares outstanding.  A
copy of the regulatory filing is available for free at:

                        http://is.gd/5S0O34

                        About Quantum Fuel

Lake Forest, Cal.-based Quantum Fuel Systems Technologies
Worldwide, Inc. (Nasdaq: QTWW) develops and produces advanced
vehicle propulsion systems, fuel storage technologies, and
alternative fuel vehicles.  Quantum's portfolio of technologies
includes electronic and software controls, hybrid electric drive
systems, natural gas and hydrogen storage and metering systems and
other alternative fuel technologies and solutions that enable fuel
efficient, low emission, natural gas, hybrid, plug-in hybrid
electric and fuel cell vehicles.

Quantum Fuel disclosed a net loss attributable to stockholders of
$30.91 million in 2012 and a net loss attributable to common
stockholders of $38.49 million in 2011.  The Company's balance
sheet at Sept. 30, 2013, showed $60.64 million in total assets,
$50.27 million in total liabilities and $10.36 million in total
stockholders' equity.

Haskell & White LLP, in Irvine, 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 does not have sufficient existing sources of
liquidity to operate its business and service its debt obligations
for a period of at least twelve months.  These conditions, along
with the Company's working capital deficit and recurring operating
losses, raise substantial doubt about the Company's ability to
continue as a going concern.


RADIOSHACK CORP: Litespeed Stake at 8.1% as of Jan. 7
-----------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, Litespeed Management, L.L.C., and its affiliates
disclosed that as of Jan. 7, 2014, they beneficially owned
8,080,695 shares of common stock of RadioShack Corp. representing
8.1 percent of the shares outstanding.  A copy of the regulatory
filing is available for free at http://is.gd/WgTII7

                    About Radioshack Corporation

RadioShack (NYSE: RSH) -- -- http://www.radioshackcorporation.com
-- is a national retailer of innovative mobile technology products
and services, as well as products related to personal and home
technology and power supply needs.  RadioShack's retail network
includes more than 4,300 company-operated stores in the United
States, 270 company-operated stores in Mexico, and approximately
1,000 dealer and other outlets worldwide.

Radioshack disclosed a net loss of $139.4 million in 2012, as
compared with net income of $72.2 million in 2011.  The Company's
balance sheet at Sept. 30, 2013, showed $1.60 billion in total
assets, $1.21 billion in total liabilities and $394 million in
total stockholders' equity.

                           *     *     *

As reported by the TCR on Dec. 26, 2013, Standard & Poor's Ratings
Services raised the corporate credit rating on the Fort Worth,
Texas-based RadioShack Corp. to 'CCC+' from 'CCC'.  "The upgrade
reflects an improved liquidity position with a recent financing
that increased funded debt by $125 million and increased the
company's revolving credit borrowing capacity, which improved
the company's liquidity by approximately $200 million," said
credit analyst Charles Pinson-Rose.

In the Dec. 30, 2013, edition of the TCR, Fitch Ratings has
affirmed its 'CCC' Long-term Issuer Default Rating (IDR) on
RadioShack Corporation.  The IDR reflects the significant decline
in RadioShack's profitability and cash flow, which has become
progressively more pronounced over the past two years.

As reported by the TCR on March 6, 2013, Moody's Investors Service
downgraded RadioShack Corporation's corporate family rating to
Caa1 from B3 and probability of default rating to Caa1-PD from B3-
PD.  RadioShack's Caa1 Corporate Family Rating reflects Moody's
opinion that the overall business strategy of the company to
reverse the decline in profitability has not gained any traction.


RADISSON RTP: Closes Doors, Sells Assets
----------------------------------------
News & Observer reports that the Radisson RTP hotel, originally
known as the Governors Inn, in Durham North Carolina, closed in
November after 41 years of operation.

Before its seven buildings can be bulldozed in a few weeks, they
must be emptied of furniture, frying pans, fitness machines and
miscellaneous fixtures that are worth several hundred thousand
dollars, according to newsobserver.com.

The report relates that the doors will open to the public again
Jan. 9 for a 30-day liquidation sale.  Along with hotel and
restaurant owners buying in bulk, the tag sale is expected to
attract local folks shopping for everything from ashtrays and
place settings to Sleep Number beds ($450 queen, $600 king with
wireless remote) and the large landscape prints ($16) that still
hang above them in 200 guest rooms, the report says.


RG STEEL: Court Dismisses Portions of Suit Against Severstal
------------------------------------------------------------
District Judge Rovert W. Sweet dismissed two of the causes of
action in the complaint RG Steel LLC filed against Severstal US
Holdings, LLC ("SUSH") and Severstal US Holdings II, Inc. ("SUSH
II").  The Defendants' motion to dismiss is granted, in part, and
denied, in part.

RG Steel filed an Amended Complaint on June 7, 2013.  The
Complaint alleges five independent causes of action and seeks to
recover for losses and/or damages sustained in connection with RG
Steel's purchase of steel mills from the Defendants pursuant to
the Stock Purchase Agreement entered into in March 2011, as well
as certain declaratory relief.

The facilities are located in Sparrows Point, Maryland, Warren,
Ohio and Wheeling, West Virginia and were acquired by Severstal
between May 2008 and August 2008.

In connection with the transaction, RG Steel purchased all of the
equity of Severstal Sparrows Point, which in turn owned all of the
outstanding equity in Severstal Warren LLC and Severstal Wheeling
Inc.  In exchange, RG Steel agreed to the following payment
schedule: (1) $125 million in cash, subject to a purchase price
adjustment based on the amount of working capital at the company
at closing; (2) $100 million in the form of a note, the principal
of which was due five years after closing; (3) repayment of $317
million of third-party bank debt owed by the Severstal entities
and (4) $36 million in cash to be paid to two Severstal
subsidiaries within one year of closing.  The transaction closed
on March 31, 2011.

RG Steel initially commenced the action in U.S. District Court for
the Southern District of New York on March 30, 2012.  After the
Defendants disputed the allegations of subject matter
jurisdiction, RG Steel voluntarily dismissed the action on April
20, 2012.  RG Steel re-filed the action the same day in the
Supreme Court of the State of New York.  Prior to the Defendants
filing their answer, RG Steel and its affiliated entities filed
for Chapter 11 protection, and the State Court stayed the action.
By Notice of Removal dated March 7, 2013, RG Steel removed the
action to the District Court.

The Defendants filed the motion to dismiss on July 22, 2013.

The case is, RG STEEL, LLC, Plaintiff, v. SEVERSTAL US HOLDINGS,
LLC and SEVERSTAL US HOLDINGS II, LLC, Defendants, No. 3 Civ. 1540
(S.D.N.Y.).  A copy of the Court's Jan. 14, 2014 opinion is
available at http://is.gd/dGBdnMfrom Leagle.com.

Scott D. Musoff, Esq., at SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
in New York; and Albert L. Hogan, III, Esq., Amy L. Van Gelder,
Esq., and Andrew J. Fuchs, Esq., at SKADDEN, ARPS, SLATE, MEAGHER
& FLOM LLP, in Chicago, argue for the Defendants Severstal US
Holdings, LLC and Severstal US Holdings II, Inc.

Brian E. O'Connor, Esq., Benjamin P. McCallen, Esq., and Joshua M.
Troy, Esq., at WILKIE FARR & GALLAGHER LLP, in New York, represent
RG Steel.

                         About RG Steel

RG Steel LLC -- http://www.rg-steel.com/-- is the United States'
fourth-largest flat-rolled steel producer with annual steelmaking
capacity of 7.5 million tons.  It was formed in March 2011
following the purchase of three steel facilities located in
Sparrows Point, Maryland; Wheeling, West Virginia and Warren,
Ohio, from entities related to Severstal US Holdings LLC.  RG
Steel also owns finishing facilities in Yorkville and Martins
Ferry, Ohio.  It also owned Wheeling Corrugating Company and has a
50% ownership in Mountain State Carbon and Ohio Coatings Company.

RG Steel along with affiliates, including WP Steel Venture LLC,
sought bankruptcy protection (Bankr. D. Del. Lead Case No. 12-
11661) on May 31, 2012.  Bankruptcy was precipitated by liquidity
shortfall and a dispute with Mountain State Carbon, LLC, and a
Severstal affiliate, that restricted the shipment of coke used in
the steel production process.

The Debtors estimated assets and debts in excess of $1 billion.
As of the bankruptcy filing, the Debtors owe (i) $440 million,
including $16.9 million in outstanding letters of credit, to
senior lenders led by Wells Fargo Capital Finance, LLC, as
administrative agent, (ii) $218.7 million to junior lenders, led
by Cerberus Business Finance, LLC, as agent, (iii) $130.5 million
on account of a subordinated promissory note issued by majority
owner The Renco Group, Inc., and (iv) $100 million on a secured
promissory note issued by Severstal.

Judge Kevin J. Carey presides over the case.

The Debtors are represented in the case by Robert J. Dehney, Esq.,
and Erin R. Fay, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
and Matthew A. Feldman, Esq., Shaunna D. Jones, Esq., Weston T.
Eguchi, Esq., at Willkie Farr & Gallagher LLP, represent the
Debtors.  Conway MacKenzie, Inc., serves as the Debtors' financial
advisor and The Seaport Group serves as lead investment banker.
Donald MacKenzie of Conway MacKenzie, Inc., as CRO.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

Wells Fargo Capital Finance LLC, as Administrative Agent, is
represented by Jonathan N. Helfat, Esq., and Daniel F. Fiorillo,
Esq., at Otterbourg, Steindler, Houston & Rosen, P.C.; and Laura
Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachuiski Stang
Ziehi & Jones LLP.

Renco Group is represented by lawyers at Cadwalader, Wickersham &
Taft LLP.

Kramer Levin Naftalis & Frankel LLP represents the Official
Committee of Unsecured Creditors.  Huron Consulting Services LLC
serves as the Committee's financial advisor.

The Debtor has sold off the principal plants.  The sale of
the Wheeling Corrugating division to Nucor Corp. brought in
$7 million.  That plant in Sparrows Point, Maryland, fetched the
highest price, $72.5 million.  CJ Betters Enterprises Inc. paid
$16 million for the Ohio plant.  RG Steel Sparrows Point LLC has
received the green light to sell some of its assets to Siemens
Industry, Inc., which include equipment and related spare parts,
for $400,000.


RIH ACQUISITIONS: Claims May Be Filed Over Unredeemed Chips
-----------------------------------------------------------
The Atlantic Club Casino Hotel ceased operations at 12:01 a.m. on
Jan. 13, 2014.

According to a notice to hotel customers, any Atlantic Club Casino
chips, tokens, cashback, comps, e-tickets and/or vouchers must be
redeemed at the casino prior to that date and time.  After 12:01
a.m. on Jan. 13, 2014, any person holding Atlantic Club Casino
chips, tokens, cashback, comps, e-tickets and/or vouchers will
only have one possible recourse for redemption through the filing
of a proof of claim form with the United States Bankruptcy Court
for the District of New Jersey.

The earning of slot cashback ended at 5:59 a.m. on Jan. 6, 2014.
The redemption of all earned cashback continued through 12:01 a.m.
on Jan. 13, 2014.

All promotional offers mailed with valid dates post Jan. 12, 2014
are canceled and invalid.

All event invitations mailed with event dates post Jan. 12, 2014
are canceled.

All Club Local vouchers were valid at existing partners through
Jan. 12, 2014.  Post that date all vouchers will expire and have
no value.

On the Net: http://www.atlanticclubcasino.com/

                      About RIH Acquisitions

RIH Acquisitions NJ LLC, doing business as the Atlantic Club
Casino Hotel in Atlantic City, New Jersey, filed a Chapter 11
petition (Bankr. D.N.J. Case No. 13-34483) on Nov. 6, 2013, in
Camden, New Jersey, to sell the property in the near term.

The Debtors are represented by Michael D. Sirota, Esq., and Warren
A. Ustaine, Esq., at Cole, Schotz, Meisel, Forman & Leonard, P.A.,
in Hackensack, New Jersey; and Paul V. Shalhoub, Esq., at Willkie
Farr & Gallagher LLP, in New York.  Duane Morris, LLP, serves as
the Debtors' special gaming regulatory counsel.

Imperial Capital, LLC, serves as financial advisor and investment
banker to the Debtors, while Mercer (US) Inc. serves as
compensation consultant.  Kurtzman Carson Consultants LLC is the
Debtors' claims and noticing agent.

Northlight Financial LLC, as DIP Lender, is represented by Harlan
W. Robins, Esq., at Dickinson Wright PLLC, in Columbus, Ohio;
Kristi A. Katsma, Esq., at Dickinson Wright PLLC, in Detroit,
Michigan; and Bruce Buechler, Esq., and Kenneth A. Rosen, Esq., at
Lowenstein Sandler LLP, in Roseland, New Jersey.

Financing for the Chapter 11 reorganization is being provided by
Northlight Financial LLC.

An official committee of unsecured creditors appointed in the case
is represented by Morton R. Branzburg, Esq., Carol Ann Slocum,
Esq., and Richard M. Beck, Esq., at Klehr Harrison Harvey
Branzburg LLP.  The Committee hired PricewaterhouseCoopers, LLC,
as financial advisor.

RIH Acquisitions NJ LLC scheduled $17,776,359 in total assets and
$16,813,022 in total liabilities.

On Dec. 23, 2013, Judge Gloria M. Burns approved the sale of
Atlantic Club Casino Hotel's casino property and fixtures to
Caesars Entertainment Corp. for $15 million; and the slot machines
and other gambling equipment to Tropicana Entertainment Inc. for
$8.4 million.


RIH ACQUISITIONS: Klehr Harrison Okayed as Committee Counsel
------------------------------------------------------------
The Official Committee of Unsecured Creditors of RIH Acquisitions
NJ, LLC, dba The Atlantic Club Casino Hotel, and RIH Propco NJ,
LLC sought and obtained authorization from the Hon. Gloria M.
Burns of the U.S. Bankruptcy Court for the District of New Jersey
to retain Klehr Harrison Harvey Branzburg, LLC as counsel to the
Committee, nunc pro tunc to Nov. 14, 2013.

The Committee requires Klehr Harrison to:

   (a) provide the Committee with legal advice with respect to its
       rights, duties and powers in the Chapter 11 case and any
       proceedings or other litigation related thereto or
       impacting the estate;

   (b) assist the Committee in analyzing the operation of the
       Debtor?s business and the desirability of the continuance
       of such businesses and other matters;

   (c) assist the Committee in investigating the acts, conduct,
       assets, liabilities and financial condition of the Debtor;

   (d) assist the Committee in investigating whether any causes of
       action may exist that may impact the estate;

   (e) assist the Committee in identifying and evaluating
       proposals for a transaction or transactions involving the
       Debtor and assets of its estate, including a possible sale,
       merger, recapitalization, equity investment or other
       business transaction;

   (f) prepare pleadings and applications as may be necessary in
       furtherance of the Committee?s interests and objectives on
       behalf of its constituency;

   (g) review and analyze all applications, orders, operating
       reports, schedules, statements of affairs and other filings
       made or to be made by the Debtor or other parties; advising
       the Committee with respect to the foregoing matters and its
       impact upon unsecured creditors; and taking such actions
       with respect to the foregoing matters as the Committee may
       determine are appropriate;

   (h) consult with the Debtor, and other creditors, interest
       holders, and the U.S. Trustee concerning administration of
       the Chapter 11 Case and related proceedings;

   (i) advise the Committee and otherwise participating in
       formulating a chapter 11 plan;

   (j) assist the Committee in the solicitation and filing with
       the Court of acceptances or rejections of any proposed
       chapter 11 plan;

   (k) advise the Committee with respect to, and implement as
       appropriate, communications or related programs to notify
       unsecured creditors regarding material developments in the
       Chapter 11 Case, the Committee?s position on any proposed
       plan, the creditors? obligations relating to any claims
       deadlines, and similar matters;

   (l) represent the Committee in hearings and other proceedings
       in the Chapter 11 Case and related proceedings; and

   (m) performing such other legal services as may be required and
       as are deemed to be in the best interests of the Committee
       and the constituency it represents.

Klehr Harrison will be paid at these hourly rates:

       Morton R. Branzburg, Principal       $650
       Carol Ann Slocum, Principal          $475
       Richard M. Beck, Principal           $475
       Kathryn E. Perkins, Associate        $290
       Margaret M. Manning, Associate       $375
       Melissa Hughes, Admin. Staff         $180
       Nadine Yackle, Admin. Staff          $160
       Jenny Taylor, Admin Staff            $120

Klehr Harrison will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Morton R. Branzburg, member of Klehr Harrison, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.

Klehr Harrison can be reached at:

       Morton R. Branzburg, Esq.
       KLEHR HARRISON HARVEY BRANZBURG, LLP
       457 Haddonfield Road, Suite 510
       Cherry Hill, NJ 08002
       Tel: (856) 486-7900
       Fax: (856) 486-4875

                   About RIH Acquisitions

RIH Acquisitions NJ LLC, doing business as the Atlantic Club
Casino Hotel in Atlantic City, New Jersey, filed a Chapter 11
petition (Bankr. D.N.J. Case No. 13-34483) on Nov. 6, 2013, in
Camden, New Jersey, to sell the property in the near term.

The Debtors are represented by Michael D. Sirota, Esq., and Warren
A. Ustaine, Esq., at Cole, Schotz, Meisel, Forman & Leonard, P.A.,
in Hackensack, New Jersey; and Paul V. Shalhoub, Esq., at Willkie
Farr & Gallagher LLP, in New York.  Duane Morris, LLP, serves as
the Debtors' special gaming regulatory counsel.

Imperial Capital, LLC, serves as financial advisor and investment
banker to the Debtors, while Mercer (US) Inc. serves as
compensation consultant.  Kurtzman Carson Consultants LLC is the
Debtors' claims and noticing agent.

Northlight Financial LLC, as DIP Lender, is represented by Harlan
W. Robins, Esq., at Dickinson Wright PLLC, in Columbus, Ohio;
Kristi A. Katsma, Esq., at Dickinson Wright PLLC, in Detroit,
Michigan; and Bruce Buechler, Esq., and Kenneth A. Rosen, Esq., at
Lowenstein Sandler LLP, in Roseland, New Jersey.

Financing for the Chapter 11 reorganization is being provided by
Northlight Financial LLC.

An official committee of unsecured creditors appointed in the case
is represented by Morton R. Branzburg, Esq., Carol Ann Slocum,
Esq., and Richard M. Beck, Esq., at Klehr Harrison Harvey
Branzburg LLP.  The Committee hired PricewaterhouseCoopers, LLC,
as financial advisor.

RIH Acquisitions NJ LLC scheduled $17,776,359 in total assets and
$16,813,022 in total liabilities.

On Dec. 23, 2013, Judge Gloria M. Burns approved the sale of
Atlantic Club Casino Hotel's casino property and fixtures to
Caesars Entertainment Corp. for $15 million; and the slot machines
and other gambling equipment to Tropicana Entertainment Inc. for
$8.4 million.


SEARS HOLDINGS: Big Kmart at Charleston, SC to Close
----------------------------------------------------
Ashley Barker, writing for the Charleston Regional Business
Journal, reports that the anchor store of a shopping center at
Mount Pleasant, Charleston County, South Carolina, is scheduled to
close soon.

The Big Kmart at Johnnie Dodds Boulevard and Bowman Road will
close to the public, a store manager said, according to the
report.

A liquidation sale for the store's remaining inventory began at
the end of October, according to Howard Riefs, director of
corporate communications for Sears Holdings Corporation.

"Store closures are part of a series of actions we're taking to
reduce ongoing expenses, adjust our asset base and accelerate the
transformation of our business model," the report quoted Mr. Riefs
as saying.  "These actions will better enable us to focus our
investments on serving our customers and members through
integrated retail ? at the store, online and in the home," Mr.
Riefs said, the report relates.

The Mount Pleasant store has 43 employees.

                            About Sears

Hoffman Estates, Illinois-based Sears Holdings Corporation
(Nasdaq: SHLD) -- http://www.searsholdings.com/-- operates full-
line and specialty retail stores in the United States and Canada.
Sears Holdings operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation.  Sears Holdings also owns a
94 percent stake in Sears Canada and an 80.1 percent stake in
Orchard Supply Hardware.  Key proprietary brands include Kenmore,
Craftsman and DieHard, and a broad apparel offering, including
such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer,
as well as the Apostrophe and Covington brands.  It also has the
Country Living collection, which is offered by Sears and Kmart.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  John Wm. "Jack" Butler, Jr., Esq., at Skadden,
Arps, Slate, Meagher & Flom, LLP, represented the retailer in its
restructuring efforts.  The Company's balance sheet showed
$16,287,000,000 in assets and $10,348,000,000 in debts when it
sought chapter 11 protection.  Kmart bought Sears, Roebuck & Co.,
for $11 billion to create the third-largest U.S. retailer, behind
Wal-Mart and Target, and generate $55 billion in annual revenues.
Kmart completed its merger with Sears on March 24, 2005.

The Company's balance sheet at Nov. 2, 2013, showed $20.20 billion
in total assets, $17.88 billion in total liabilities and $2.32
billion in total equity.

                           Junk Rating

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to Caa1 from B3.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year. The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period. For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year. Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014. "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy. He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."


SEARS HOLDINGS: Sears Store at Columbia, SC Mall to Close
---------------------------------------------------------
WLTX News reports that the Sears store at Columbiana Centre Mall,
at Columbia, South Carolina, will be closing in two months.

The company disclosed on Jan. 9 that the store will cease
operations in early March.   A liquidation sale was slated to
begin January 17.

The report relays that Sears said the store is being closed
because the lease wasn't renewed.  The move will affect 97
employees.

                            About Sears

Hoffman Estates, Illinois-based Sears Holdings Corporation
(Nasdaq: SHLD) -- http://www.searsholdings.com/-- operates full-
line and specialty retail stores in the United States and Canada.
Sears Holdings operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation.  Sears Holdings also owns a
94 percent stake in Sears Canada and an 80.1 percent stake in
Orchard Supply Hardware.  Key proprietary brands include Kenmore,
Craftsman and DieHard, and a broad apparel offering, including
such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer,
as well as the Apostrophe and Covington brands.  It also has the
Country Living collection, which is offered by Sears and Kmart.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  John Wm. "Jack" Butler, Jr., Esq., at Skadden,
Arps, Slate, Meagher & Flom, LLP, represented the retailer in its
restructuring efforts.  The Company's balance sheet showed
$16,287,000,000 in assets and $10,348,000,000 in debts when it
sought chapter 11 protection.  Kmart bought Sears, Roebuck & Co.,
for $11 billion to create the third-largest U.S. retailer, behind
Wal-Mart and Target, and generate $55 billion in annual revenues.
Kmart completed its merger with Sears on March 24, 2005.

The Company's balance sheet at Nov. 2, 2013, showed $20.20 billion
in total assets, $17.88 billion in total liabilities and $2.32
billion in total equity.

                           Junk Rating

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to Caa1 from B3.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year. The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period. For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year. Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014. "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy. He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."


SUNEE PAUL: Spa Equipment to Be Auctioned Off Feb. 27
-----------------------------------------------------
Assets of Sunee Paul, doing business as Sunee's Therapeutic Spa,
will be sold in a foreclosure auction on Feb. 27, 2014, at 10:00
a.m. at Yuma County Courthouse, 168 South 2nd Avenue, Yuma,
Arizona 85364.

The assets consist of the spa's equipment, inventory, machinery,
and fixtures located at 777 W. 27th Street, in Yuma.  The assets
serve as collateral to debt owed to National Bank of Arizona.

The bank has the right to credit bid.

The bank is represented by:

     Adam B. Nach, Esq.
     LANE & NACH, P.C.
     2001 East Campbell Avenue, Suite 103
     Phoenix, AZ 85016
     Tel: (602) 258-6000


ST. FRANCIS HOSPITAL: Says Ombudsman Not Unnecessary
----------------------------------------------------
St. Francis Hospital, Poughkeepsie, New York, et al., responded to
the objection of the U.S. Trustee to the Debtor's motion for the
Court to determine that the appointment of a patient care
ombudsman is not required in the case.  The Debtor said ample
cause exist to waive the requirement for an ombudsman.

William K. Harrington, the U.S. Trustee for Region 2, in its
objection, asserted that the appointment of a patient care
ombudsman is required under Section 333(a)(1) of the Bankruptcy
Code, unless the party has established that the appointment is not
necessary for the protection of the patients.

The Debtors explained that, among other things:

   1. the Debtors are now part of a competitive sale process,
where at least four parties are potentially interested in
purchasing the assets of the Debtors and one has committee to do
so.  The current asset purchase agreement with HealthQuest
Systems, Inc., provides for the ability to not close if there is a
material adverse effect on the Debtors' business -- clearly a
significant decline in patient care and quality would trigger this
clause.

   2. The Debtors employ the "Midas system" to track any incidents
in the hospital.  This includes all instances from slips and
falls, to infections, to patient complaints and sentient events.

                    About St. Francis' Hospital

St. Francis' Hospital, Poughkeepsie, New York, and four affiliates
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
S.D.N.Y. Lead Case No. 13-37725) on Dec. 17, 2013.  The case is
assigned to Judge Cecelia G. Morris.

St. Francis will sell its 333-bed acute-care facility, which was
founded in 1914, for $24.2 million to Health Quest Systems Inc.,
absent higher and better offers.  An auction will be held Feb. 13
if a rival offer is submitted.

The Debtors' counsel is Christopher M. Desiderio, Esq., at Nixon
Peabody LLP, in New York; the financial adviser is CohnReznick
Advisory Group; and the investment banker is Deloitte Corporate
Finance LLC.  BMC Group is the claims and notice agent.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors.


TAMARACK RESORT: Sheriff Continues to Sell Assets
-------------------------------------------------
The sheriff continues to sell collateral as as defined in the TRC
Whitewater/TCR Village Plaza Mortgage, except the real property
situated in Valley County, Idaho and shown as Tamarack Resort
Village Plaza Condominium, according to a "Second Amended Notice
of Sheriff's Sale of Initial Tamarack & Whitewater Foreclosure
Properties"

The sales do not include Lots 101, 102, 103, 104, 105, 106, 107,
108, Block 10, and Garage Lots G101, G102, G103, G104, G105, G106,
G107 and G108 Block 10, Tamarack Resort Planned Unit Development
Amended Phase 2.4; and Lots 119 and 120 Block 10 of Tamarack
Resort Planned Unit Development Phase 2.4, according to the
notice.

                     About Tamarack Resort

Tamarack Resort LLC, a golf and ski resort in Valley County,
Idaho, was sent to Chapter 7 after creditors submitted an
involuntary petition (Bankr. D. Idaho Case No. 09-03911).  The
petitioning creditors include an affiliate of Bank of America
Corp. owed $4.7 million.

On April 9, 2010, Bankruptcy Judge Terry Myers signed an order
converting Tamarack Resort LLC's involuntary chapter 7 case to a
chapter 11 reorganization.

The project's 27.5% owner, VPG Investments Inc., filed for Chapter
11 reorganization in 2008, only to have the petition dismissed in
October 2008 at the request of the secured creditor, Credit
Suisse, Caymans Islands Branch.  VPG was controlled by Mexican
businessman Alfredo Miguel Afif.  Credit Suisse, the agent for the
secured lenders, characterized VPG's Chapter 11 case as "a classic
example of a bad faith filing" made "solely as a litigation
tactic" to stop foreclosure.

In January 2011, Bankruptcy Judge Terry Myers dismissed Tamarack
Resort's Chapter 11 protection, sending it back to state court
where foreclosure proceedings would eventually proceed to a
sheriff's sale.


TODD AARON BERNSTEIN: Chapter 7 Trustee Dissolves Schoolhouse
-------------------------------------------------------------
Todd Aaron Bernstein filed a voluntary petition under Chapter 11
of the Bankruptcy Code on April 28, 2011 in the Bankruptcy Court
for the District of New Jersey (Case No. 11-23152-CMG).  By order
of the Bankruptcy Court dated April 3, 2012, the Bankruptcy Case
was converted to one under Chapter 7 of the Bankruptcy Code.
Andrea Dobin was appointed the Chapter 7 Trustee to administer the
assets of the Debtor in the Chapter 7 case.

Among the disclosed assets of the Debtor was his sole membership
interest in a New Jersey Limited Liability Company identified as
"Schoolhouse Commons, LLC".  Schoolhouse was a company formed to
refurbish real property located at 54 Hudson Street, Freehold
Township, New Jersey.  Schoolhouse intended to lease the Property
to a private school.  Schoolhouse was to finance the refurbishment
with a loan from New Jersey Community Bank.  Schoolhouse did not
complete the transaction, or the refurbishment and brought suit
against the proposed private school lessee for breach of contract
in the Superior Court in Monmouth County, New Jersey.

The Chapter 7 Trustee, standing in the shoes of the Debtor as sole
member of Schoolhouse pursuant to the Bankruptcy Code, settled the
litigation with the private school.  The Trustee also conveyed to
NJCB a deed in lieu of foreclosure for the Property. Both the
settlement and the deed-in-lieu transaction yielded funds for
Schoolhouse.

The Chapter 7 Trustee has sought to dissolve Schoolhouse under the
laws of the State of New Jersey and recover for the benefit of the
Bankruptcy Estate, those funds currently in the possession of
Schoolhouse.

The Chapter 7 Trustee is represented by:

         TRENK, DIPASQUALE, DELLA FERA & SODONO, P.C.
         427 Riverview Plaza
         Trenton, NJ 08611
         Tel: 609-695-6070
         E-mail: gcorveleyn@trenlawfirm.com


UNITED STATES OIL: SEC Revokes Registration of Securities
---------------------------------------------------------
The U.S. Securities and Exchange Commission revoked the
registration of each class of securities of United States Oil and
Gas Corp.

United States Oil is a delinquent Delaware corporation located in
Brooklyn, New York, with a class of securities registered with the
Commission pursuant to Exchange Act Section 12(g).  The Company
Gas is delinquent in its periodic filings with the Commission,
having not filed any periodic reports since it filed a Form 10-Q
for the period ended Sept. 30, 2011, which reported a net loss of
over $2.3 million for the prior nine months.  As of Sept. 17,
2013, the company's stock, symbol USOG, was traded on the over-
the-counter markets.

                      About United States Oil

United States Oil and Gas Corp. OTC QB: USOG)
-- http://www.usaoilandgas.com/-- is an oil and gas products,
services and technology company headquartered in Austin, Texas.
Through its subsidiaries, the Company markets and distributes
refined oil and gas (diesel, gasoline, propane, high octane racing
fuels and lubricants) to wholesale and retail customers in the
United States.

The Company reported a net loss of $1.3 million in 2010 and a net
loss of $1.5 million in 2009.  The Company reported a net loss of
$2.37 million for the nine months ended Sept. 30, 2011.

The Company's balance sheet at Sept. 30, 2011, showed
$6.35 million in total assets, $7.43 million in total liabilities,
and a $1.07 million total stockholders' deficit.

As reported in the TCR on April 27, 2011, M&K CPAS, PLLC, in
Houston, Texas, expressed substantial doubt about United States
Oil and Gas Corp.'s ability to continue as a going concern,
following the Company's 2010 results.  The independent auditors
noted that the Company has accumulated losses resulting in an
accumulated deficit as of Dec. 31, 2010.


VERITEQ CORP: Amends 856,449 Common Shares Resale Prospectus
------------------------------------------------------------
VeriTeq Corporation amended its Form S-1 registration statement as
filed with the U.S. Securities and Exchange Commission relating to
the resale by Hudson Bay Master Fund Ltd., Melechdavid Inc., Alpha
Capital Ansalt, et al., of up to an aggregate of 856,449 shares of
the Company's common stock, par value $0.01 per share.  The
Company will not receive any of the proceeds from the sale of the
common stock by the selling security holders.

Under the registration rights agreement entered into by the
Company and the selling security holders in connection with the
issuance of the senior secured convertible notes due Nov. 13,
2014, the Company is currently registering 856,449 shares of its
common stock.

The Company has agreed to pay certain expenses in connection with
the registration of the shares.  The selling security holders will
pay all underwriting discounts and selling commissions, if any, in
connection with the sale of the shares.

The Company's common stock is quoted on the OTC Markets, under the
ticker symbol "VTEQ."  On Jan. 15, 2014, the closing price of the
Company's common stock was $.88 per share.

A copy of the Form S-1/A prospectus is available for free at:

                       http://is.gd/FWXI9y

                          About VeriteQ

VeriTeQ, formerly known as Digital Angel Corporation, is a
developer and marketer of innovative RFID technologies for
implantable medical device identification and radiation dosimeters
for use in cancer treatment.

The Company's balance sheet at Sept. 30, 2013, showed $7.72
million in total assets, $13 million in total liabilities and a
$5.27 million total stockholders' deficit.

"We are in the development stage, have incurred operating losses
since our inception and we have a working capital deficit of
approximately $2.7 million as of September 30, 2013.  These
factors raise substantial doubt about our ability to continue as a
going concern," the Company said in its quarterly report for the
period ended Sept. 30, 2013.


VINCE YOUNG: Football Player Seeks Ch.11 Bankruptcy Protection
--------------------------------------------------------------
Former University of Texas and NFL quarterback Vince Young filed
for Chapter 11 bankruptcy protection late last week, estimating
assets between $500,001 and $1 million and liabilities between
$1,001,000 and $10 million.

U.S. Bankruptcy Judge David Jones oversees the case.  A meeting of
Young's creditors has been set for Feb. 25.

David Barron, writing for the Houston Chronicle, reports that a
2013 financial statement listed assets of Young and his wife,
Candice, at $1.8 million and liabilities at $2.5 million, but an
updated, detailed report has yet to be filed with the bankruptcy
court.

The report notes the Associated Press said Young was paid $34
million in six NFL seasons.  Young, however, has not appeared in a
regular-season game since 2011 and was cut by the last two teams
that signed him.

The Houston Chronicle says Young has been involved in a pair of
lawsuits the past two years.

     1. A $1.9 million loan at 20 percent interest was obtained
        in Young's name during 2011 NFL lockout.  The lender,
        Pro Player Funding, filed suit in New York state court
        to force repayment of the loan, and a judgment was granted
        in the company's behalf.  Along with interest, the loan
        has grown to more than $2.5 million.

     2. Young sued a group that included his former financial
        adviser, Ronnie Peoples of Raleigh, N.C., and former
        agent, Major Adams II of Houston, saying they conspired
        to obtain the Pro Player loan and that Young never
        received the money.

The report says lawyers in December said a settlement had been
reached in the Peoples case, but that agreement has not been
finalized.

Brian Kilmer, Esq., serves as Young's bankruptcy lawyer.

Sean Bellew, Esq., represents Pro Player Funding.


WESLEY HARMON: Property to Be Auctioned Off March 24
----------------------------------------------------
Assets of The Wesley Harmon Living Trust, Dated April 9, 2010,
will be sold at public auction to the highest bidder at the office
of the Trustee, 1930 North Arboleda, Ste. 201, Mesa, AZ 85213, on
March 24, 2014 at 11:00 a.m.

The property is located at 17998 S 186th St Queen Creek, AZ 85142,
and secures debt in the original principal balance of $650,000,
owed to James Sabatinos and Gwethlyn J Sabatinos.

The Trustee may be reached at:

     Wayne L. Gardner
     1930 N Arboleda, Suite 201
     Mesa, AZ 85213
     Tel: 480-655-7440
     http://www.mkconsultantsinc.com/


WIGWAM JONES INDUSTRIAL: Assets to Be Sold Jan. 31
--------------------------------------------------
Property of Wigwam Jones Industrial Park, LLC, has been put on the
auction block after the company was declared in default by lender
2010-1 CRE Venture, LLC.

Nevada Title Company, the duly appointed or substituted Trustee,
will sell the property at public auction to the highest bidder for
cash on Jan. 31, 2014, at 9:30 a.m. at the front entrance to
Nevada Legal News located at 930 S. Fourth Street, Las Vegas,
Nevada, 89101.

The property secures debt owed to the lender in the amount of
$8,825,256.86 with interest, fees, premiums and charges thereon.


* MRC Puts Sheepshead Bay Condominium Units Up for Sale for $24.5M
------------------------------------------------------------------
Madison Realty Capital (MRC), an institutionally backed commercial
real estate investment firm and asset manager specializing in
flexible debt and equity financing solutions for middle-market
transactions throughout the United States, announced the sale of
49 condominium units totaling 64,561 net sellable square feet and
43 parking spaces at a development in Sheepshead Bay, Brooklyn for
$24.5 million, resulting in a significant return on MRC's initial
investment.  The sale was completed by a debtor in Chapter 11
bankruptcy pursuant to a plan of reorganization.  MRC was a
secured creditor in the bankruptcy proceedings.

MRC took control of the Breakers at Sheepshead Bay project,
located at 3112-3144 Emmons Avenue in Brooklyn, NY, in December
2012 through the acquisition of a non-performing loan, after the
original lender had commenced foreclosure and the borrower had
filed Chapter 11 bankruptcy proceedings.  The sale announced on
Jan. 22 brings MRC's investment in the property to a successful
conclusion, within 12 months of the original transaction.
Josh Zegen, Co-Founder and Managing Member of MRC, made the
announcement.

"We're particularly proud to announce the disposition of the
Breakers at Sheepshead Bay property," Mr. Zegen said.  "MRC had
the opportunity in this complex deal to exercise every element of
our fully integrated platform.  Our bankruptcy and restructuring
expertise was at the forefront, given that we entered the deal
after the borrower filed Chapter 11.  We navigated the challenges
of acquiring the defaulted loan and then improving and renovating
this property to maximize its value, all within the bankruptcy
framework.  This sale, completed pursuant to a contested and
confirmed Chapter 11 plan, is a testament to MRC's ability to
bring multi-dimensional real estate and financial expertise to
bear on a troubled asset and successfully turn it around."

               About Madison Realty Capital (MRC)

Founded in 2004, Madison Realty Capital is an institutionally
backed commercial real estate firm specializing in flexible debt
and equity financing solutions for middle-market transactions
throughout the United States.  MRC invests in the multifamily,
retail, office and industrial sectors and has completed in excess
of $1.2 billion of transactions in 28 states to date.  MRC's
vertically integrated platform encompasses origination, servicing,
asset management, property management and construction management
expertise to maximize the value of its investments.


* Moody's Says Drop in Political Ad Revenue to Hit TV Broadcasters
------------------------------------------------------------------
Political advertising revenue for US television broadcasters will
fall in 2014 for only the second time since 1980 during a non-
recession election year, Moody's Investors Service says in a new
report, "Drop in US Political Advertising in 2014 Will Cap Growth
in Broadcasters' Cash Flow."

Moody's expects the broadcasters' local political ad revenue to
reach no more than $2.6 billion in 2014, compared to $2.9 billion
in 2012.

"Spending from presidential, Congressional, issue-oriented and
state and local campaigns peaked in 2012, and stands to fall by
10% or more this year," says Vice President -- Senior Credit
Officer, Carl Salas. "The drop in political ad revenue this year
will reverse a long-running trend of consistent growth in spending
on political advertising every election year at a 10% compound
annual growth rate."

Among operators, E. W. Scripps and Gray Television are the most
likely to see declines in political revenue on a same-station
basis, since political advertising accounted for more of their
2012 broadcasting revenue than it did for peers, Salas says.

Broadcasters with medium exposure to political ad revenue,
including LIN Television and Sinclair Broadcast Group, can rely on
growth in core advertising or digital revenue to help maintain
cash flow in 2014. LIN and Sinclair also own multiple stations in
battleground states for governor or Congress.

Meanwhile, Gannett and Tribune will enjoy greater diversification
and synergies from recent large acquisitions, according to the
report.

Entravision Communications and Granite Broadcasting will see the
smallest drop in political ad revenue in 2014, since they have low
exposure to political ad demand, Salas says. "Entravision will
benefit from its increased focus on Spanish-speaking voters, while
Granite has historically earned more political revenue from mid-
term elections."

The biennial increase in political advertising for US broadcasters
will resume with new record spending in 2016, more than making up
for this year's reversal, Moody's notes. Broadcasters stand to
reap massive revenue gains during the first presidential year
since 2010 featuring primary battles in both political parties.


* Blank Rome Adds 21 Attorneys to California & New York Offices
---------------------------------------------------------------
Blank Rome LLP on Jan. 22 disclosed that 21 attorneys, including
five Partners along with Counsel, Associates, and additional staff
from the law firms of Finestone & Richter and Margolis & Tisman
LLP will join the Firm effective February 1.  As a result of these
additions, the Firm will significantly expand its Los Angeles
office, establish an office in San Francisco, and enhance its New
York office.

"We are thrilled to welcome this outstanding group to Blank Rome
from two highly respected California-based firms.  They bring an
impressive amount of corporate M&A, corporate litigation, labor
and employment, banking, real estate, and trusts and estates
experience to the Firm's practices in these areas, as well as
Chinese and Korean language capability, and will be excellent
enhancements to our Asia Practice," said Alan J. Hoffman, Chairman
and Managing Partner.  "We established a California presence in
2009 to better meet the needs of our West Coast and Asian clients.
In a short period of time we have grown from just five attorneys
in one Los Angeles office, to now nearly 50 attorneys on the West
Coast in expanded space in Los Angeles and a new office in San
Francisco.  We look forward to continued and strategic growth on
the West Coast and in other key markets."

With the addition of the Margolis & Tisman group, Blank Rome now
has an established office in San Francisco.  In October, the Firm
announced the relocation of its Los Angeles office to new,
expanded space in the Century Towers in Century City, having
entered into a long-term lease occupying a full floor of prime
office space.  The locations of the Firm's California offices are:
Blank Rome Los Angeles Blank Rome San Francisco

"This is an exciting time for Blank Rome and our Los Angeles
office in particular," said Gregory M. Bordo, Administrative
Partner, Los Angeles office.  "The groups from Finestone & Richter
and Margolis & Tisman are outstanding additions to our growing
West Coast team and further enhance our capabilities for serving
our California and Pacific Rim clients in key areas."

"Our group is eager to integrate with our new colleagues at Blank
Rome," said Jeffrey R. Richter of Finestone & Richter.  "We are
confident that both the Firm's geographic footprint and
extraordinarily diverse practice areas will enhance the level of
service that we offer our clients.  Moreover, the quality of the
professional staff, the vast resources of the Firm, and its
palpable dynamism will provide us with countless opportunities to
maximize the provision and quality of full business and support
services to our growing clientele.  Following a 37-year history
since the founding of Finestone & Richter, its lawyers and staff
are proud and honored to be a part of Blank Rome."

"To best serve the expanding needs of our domestic and foreign
clients -- particularly the rapidly growing number of Chinese and
Korean businesses and entrepreneurs operating in the U.S. -- we
wanted to combine with a large firm that has a stellar reputation
and broad and deep U.S. and Asian practices," said Mike Margolis
of Margolis & Tisman.   "Blank Rome is a perfect fit.  Like us,
the Firm is committed to serving clients with exceptional
dedication, supporting the communities in which its people and
clients live and work, and promoting a collaborative culture that
always puts the client first.  Our combining with Blank Rome both
complements the Firm's traditional areas of practice and enhances
a uniquely qualified team that serves Chinese and Korean
businesses in the U.S.  We are excited to join the Firm and have
the opportunity to work with such an impressive group of
professionals."

Joining from Margolis & Tisman LLP

Michael ("Mike") B. Margolis, Partner Corporate Litigation Group,
Los Angeles

Mr. Margolis has more than 30 years of experience representing
clients in a variety of disputes, including trade secrets, unfair
competition, and misappropriation of intellectual property; fraud;
international joint ventures; employment matters; real estate;
lender liability; and class actions and other complex commercial
cases.  In addition to his dispute resolution practice, Mr.
Margolis counsels businesses and business owners on a wide range
of international and domestic issues.

Mr. Margolis frequently speaks at meetings and forums on industry
topics.  He has been called upon to act as a judge in the Chinese
National Round of Jessup International Moot Court Competitions in
Beijing and Shenzhen.  He is a member of the Executive Committee
of the Leadership Board of the Asia Society of Southern
California; a member of the Board of Directors of the Hong Kong
Association of Southern California; and a member of the Executive
Board of the Cornell Law Association.  He is conversational in
Mandarin Chinese.

Stephen E. Tisman, Partner Labor and Employment and Corporate
Litigation Groups, New York

Mr. Tisman focuses his practice on complex corporate and
employment litigation and on employment and corporate business
matters.  His U.S. and international clients have included a
multibillion dollar insurance company, an internationally
affiliated newspaper, non-profit organizations, a radio station,
national consulting and actuarial firms, a reinsurance brokerage,
a specialty foods manufacturer, apparel companies, a large travel
agency, an "employee leasing" company, law firms, accounting
firms, and a professional sports agent, among others.  He also
represents senior executives in a variety of industries, including
financial services, insurance, and pharmaceuticals in litigated
and contractual matters.  Mr. Tisman has litigated in virtually
all of the courts of New York and in state and federal courts
throughout the U.S.  He has practiced before state and federal
administrative agencies and has brought and defended arbitrations
before the American Arbitration Association, the New York Stock
Exchange, the Financial Industry Regulatory Authority ("FINRA")
and its predecessor, the National Association of Securities
Dealers ("NASD").

Mr. Tisman previously served as a member of the Council on
Judicial Administration and on the Committees on Federal Courts
and State Legislation for the Association of the Bar of the City
of New York.

Attorneys joining Mr. Margolis and Mr. Tisman:

Los Angeles

    Jason S. Kim, Partner, Corporate, M&A, and Securities Group
    Timothy J. Martin, Counsel, Corporate Litigation Group
    Adam W. Schorr, Counsel, Corporate, M&A, and Securities Group
    Linda M. Toutant, Counsel, Corporate Litigation Group
    Shirley M. Kong, Associate, Corporate Litigation Group

San Francisco

New York

Joining from Finestone & Richter

Jeffrey R. Richter, Partner Corporate, M&A, and Securities Group,
Los Angeles

Mr. Richter advises public and private companies ranging from
start-ups to well-established corporations on a wide variety of
business matters involving mergers and acquisitions, general
corporate and commercial transactions, securities law, and dispute
resolution.  He has more than 40 years of experience involving the
sale of assets, the sale of capital stock or other securities,
mergers and related transactions relating to the transfer of
control of corporate or other entities, and representing buyers
and sellers in connection with transactions for small, mid-cap,
and large businesses.  He has significant experience with a wide
range of general corporate and commercial transactions; has
participated in numerous public offerings, proxy battles, going
private transactions and mergers, 1934 Act compliance activities,
private offering syndications, and state blue law compliance; and
is well versed in dispute negotiations.  Mr. Richter also provides
counsel to tax-exempt organizations, including public charities
and educational institutions.  He is a frequent lecturer on
securities law, franchise law, and multilevel marketing, as well
as the California Non-Profit Integrity Act.

Mr. Richter is a member of the Beverly Hills Bar Association's
Business Law, Labor & Employment Law, and Intellectual Property
Law Sections; a member of the Los Angeles County Bar Association's
Intellectual Property and Business & Corporations Sections; and a
member of the California State Bar's Business Law and Labor &
Employment Law Sections.  He serves on the Board of Directors of
the Jewish Big Brothers Big Sisters of Los Angeles, and is the
organization's Treasurer and Chair of the Finance Committee.  He
also serves on the Audit Committee of Jewish Vocational Services.

William Finestone, Partner Tax, Benefits, and Private Client
Group, Los Angeles

Mr. Finestone concentrates his practice in the area of trusts and
estates, with particular emphasis on estate and tax planning and
estate and trust administration.  He has more than 40 years of
experience in the preparation of wills, revocable and irrevocable
private trusts, charitable trusts, durable powers of attorney for
financial and healthcare matters, and business succession
planning.  He advises clients on estate and trust administration
matters involving probate and non-probate procedures as well as
the resolution of disputes involving wills and trusts.  In tax
planning matters, Mr. Finestone advises clients in the areas of
United States, California, and international transfer tax
planning; corporate, partnership, and individual income tax
planning; and property taxation.

Mr. Finestone is a California State Bar Certified Specialist in
Estate Planning, Trust and Probate Law, and a Los Angeles Superior
Court Alternative Dispute Resolution Neutral.  He is a Fellow of
the American College of Trust and Estate Counsel ("ACTEC"), a
member of its Charitable Tax Planning and Exempt Organizations
Committee, and a Director of the ACTEC Foundation.  He has served
as an instructor for accounting and tax seminars at the California
State University Los Angeles, College of Extended Studies and
International Programs since 1990.  Mr. Finestone is also a member
of the American Bar Association's Sections on Business Law, Real
Property, Probate and Trust, and Taxation.  Mr. Finestone is a
frequent lecturer at continuing education and other programs,
including the American and California State Bar Associations,
ACTEC, the USC Tax Institute, the UCLA/CEB Estate Planning
Institute, Partnership for Philanthropic Planning (National
Committee on Planned Giving), Western Regional Planned Giving
Conference, Western Conference on Tax Exempt Organizations, AFP,
several Planned Giving Roundtables in California and elsewhere,
and corporate meetings.

Joining Mr. Richter and Mr. Finestone in Los Angeles:

                      About Blank Rome LLP

Blank Rome LLP -- http://www.BlankRome.com-- is one of America's
largest law firms.  With nearly 500 attorneys serving clients
around the globe, Blank Rome is an international law firm
representing businesses and organizations ranging from Fortune 500
companies to start-up entities.  Blank Rome helps its clients in
all aspects of their businesses.  The Firm's practices cover areas
including business tax; commercial and corporate litigation;
consumer finance; employment, benefits and labor; environmental
litigation; financial services; business restructuring and
bankruptcy; government relations; intellectual property; maritime,
international trade and public contracts; matrimonial; mergers &
acquisitions and private equity; product liability, mass torts,
insurance; public companies and capital formation; public finance;
real estate; trusts and estates; and white collar defense and
investigations.  Blank Rome also represents pro bono clients in a
wide variety of cases and matters.


* Molly Sheehan Among U.S. Banker Magazine's "Woman to Watch"
-------------------------------------------------------------
Attorney Molly Sheehan, named one of the "Top Women to Watch in
Banking" by U.S. Banker magazine, has been named Of Counsel to
Parker Ibrahim & Berg, according to Jay Ibrahim, firm founder and
partner.

A mortgage banking expert with over 40 years of experience in
financial services, Ms. Sheehan joins Parker Ibrahim & Berg from
JPMorgan Chase, where she served as Senior Vice President and
General Counsel for Chase Home Lending as well as Housing Policy
Executive, where she represented Chase Home Lending in working
with the U.S. Treasury Dept. and other federal banking regulators
on foreclosure prevention and other issues related to the mortgage
crisis.

"We are extremely fortunate to have Molly's unparalleled
experience and stellar reputation serving our clients in the
consumer financial services industry," said Mr. Ibrahim.   "She
has worked at the highest levels of government on issues that she
identified as problems even before they made national headlines,
and her foresight in getting ahead of those problems will be a
real asset to our clients and the firm."

Ms. Sheehan received her undergraduate and master's degrees from
The Catholic University of America, and her J.D. from that
university's Columbus School of Law.  She was previously Vice
President and Assistant General Counsel for Manufacturers Hanover
Trust Company before joining JPMorgan Chase where she also served
as Senior Vice President and General Counsel of Chemical Bank New
Jersey.  She was named #11 of the Top 25 Women to Watch in U.S.
Banker magazine's Most Powerful Women in Banking in 2009.

Parker Ibrahim & Berg LLC -- http://www.piblaw.com-- represents a
wide array of corporate clients, including Fortune 500 companies,
national banks, retailers, reinsurers, mortgage lenders and
financial services companies.  Its practice areas include mortgage
banking, bankruptcy, commercial litigation, reinsurance/insurance,
regulatory consulting, regulatory enforcement, consumer finance,
fair lending, and corporate transactional matters.


* Recent Small-Dollar & Individual Chapter 11 Filings
-----------------------------------------------------

In re Cybernetic Research Laboratories, Inc.
   Bankr. D. Ariz. Case No. 14-00523
     Chapter 11 Petition filed January 15, 2014
         See http://bankrupt.com/misc/azb14-00523.pdf
         represented by: Scott D. Gibson, Esq.
                         LAW OFFICE OF SCOTT D. GIBSON, PLLC
                         E-mail: ecf@sdglaw.net

In re Specified Construction Management, LLC
   Bankr. D. Ariz. Case No. 14-00552
     Chapter 11 Petition filed January 15, 2014
         See http://bankrupt.com/misc/azb14-00552.pdf
         represented by: Andrew M Ellis, Esq.
                         ANDREW M. ELLIS LAW, PLLC
                         E-mail: Andrew.Ellis@azbar.org

In re William Thoene
   Bankr. C.D. Cal. Case No. 14-10089
      Chapter 11 Petition filed January 15, 2014

In re Joe Mobley
   Bankr. E.D. Calif. Case No. 14-20348
      Chapter 11 Petition filed January 15, 2014

In re The Ultimate Home Buyers, LLC
   Bankr. D. Md. Case No. 14-10671
     Chapter 11 Petition filed January 15, 2014
         See http://bankrupt.com/misc/mdb14-10671.pdf
         Filed Pro Se

In re John Williams
   Bankr. E.D.N.Y. Case No. 14-40167
      Chapter 11 Petition filed January 15, 2014

In re Greater Deliverance Church of God in Christ, Inc.
   Bankr. W.D. Tenn. Case No. 14-20517
     Chapter 11 Petition filed January 15, 2014
         See http://bankrupt.com/misc/tnwb14-20517.pdf
         represented by: John E. Dunlap, Esq.
                         E-mail: jdunlap00@gmail.com

In re SMD Carrollton, LLC
        dba Smiling Moose Deli
   Bankr. E.D. Tex. Case No. 14-40109
     Chapter 11 Petition filed January 15, 2014
         See http://bankrupt.com/misc/txeb14-40109.pdf
         represented by: John P Lewis, Jr., Esq.
                         E-mail: jplewisjr@mindspring.com

In re John Koeppen
   Bankr. E.D. Va. Case No. 14-10168
      Chapter 11 Petition filed January 15, 2014

In re Native American Energy, LLC
   Bankr. D. Ariz. Case No. 14-00605
     Chapter 11 Petition filed January 16, 2014
         See http://bankrupt.com/misc/azb14-00605.pdf
         represented by: J. Kent Mackinlay, Esq.
                            WARNOCK, MACKINLAY & CARMAN, PLLC
                            E-mail: kent@mackinlaylawoffice.com

In re Progressive Data Systems, Inc.
   Bankr. M.D. Fla. Case No. 14-00456
     Chapter 11 Petition filed January 16, 2014
         See http://bankrupt.com/misc/flmb14-00456.pdf
         represented by: Buddy D. Ford, Esq.
                         BUDDY D. FORD, P.A.
                         E-mail: Buddy@tampaesq.com

In re Visum Management, LLC
   Bankr. M.D. Fla. Case No. 14-00469
     Chapter 11 Petition filed January 16, 2014
         See http://bankrupt.com/misc/flmb14-00469.pdf
         represented by: Buddy D. Ford, Esq.
                         BUDDY D. FORD, P.A.
                         E-mail: Buddy@tampaesq.com

In re Spine Injury Physicians, LLC
   Bankr. M.D. Fla. Case No. 14-00470
     Chapter 11 Petition filed January 16, 2014
         See http://bankrupt.com/misc/flmb14-00470.pdf
         represented by: Buddy D. Ford, Esq.
                         BUDDY D. FORD, P.A.
                         E-mail: Buddy@tampaesq.com

In re Wellness Worx Center, PLLC
   Bankr. M.D. Fla. Case No. 14-00471
     Chapter 11 Petition filed January 16, 2014
         See http://bankrupt.com/misc/flmb14-00471.pdf
         represented by: Buddy D. Ford, Esq.
                         BUDDY D. FORD, P.A.
                         E-mail: Buddy@tampaesq.com

In re 1402 North Walnut Street LLC
   Bankr. S.D. Ind. Case No. 14-00263
     Chapter 11 Petition filed January 16, 2014
         See http://bankrupt.com/misc/insb14-00263.pdf
         represented by: Craig R. Benson, Esq.
                         CRAIG BENSON, ATTORNEY AT LAW, P.C.
                         E-mail: craigbensonlaw@gmail.com

In re Victor Kazanjian
   Bankr. D. Md. Case No. 14-10751
      Chapter 11 Petition filed January 16, 2014

In re Victor M. Kazanjian
   Bankr. D. Md. Case No. 14-10751
     Chapter 11 Petition filed January 16, 2014
         See http://bankrupt.com/misc/mdb14-10751.pdf
         Filed Pro Se

In re Craig Kazanjian
   Bankr. D. Md. Case No. 14-10752
      Chapter 11 Petition filed January 16, 2014

In re Craig C. Kazanjian
   Bankr. D. Md. Case No. 14-10752
     Chapter 11 Petition filed January 16, 2014
         See http://bankrupt.com/misc/mdb14-10752.pdf
         Filed Pro Se

In re Esther Lewis
   Bankr. D. Md. Case No. 14-10760
      Chapter 11 Petition filed January 16, 2014

In re Taplin Properties, LLC
   Bankr. W.D. Mich. Case No. 14-00213
     Chapter 11 Petition filed January 16, 2014
         See http://bankrupt.com/misc/miwb14-00213.pdf
         represented by: Cody H. Knight, Esq.
                         RAYMAN & KNIGHT
                         E-mail: courtmail@raymanstone.com

In re K.T.X. Incorporated
   Bankr. W.D. Mich. Case No. 14-00215
     Chapter 11 Petition filed January 16, 2014
         See http://bankrupt.com/misc/miwb14-00215.pdf
         represented by: Cody H. Knight, Esq.
                         RAYMAN & KNIGHT
                         E-mail: courtmail@raymanstone.com

In re Sung Hong
   Bankr. D.N.J. Case No. 14-10817
      Chapter 11 Petition filed January 16, 2014

In re Jose Santos
   Bankr. S.D.N.Y. Case No. 14-10078
      Chapter 11 Petition filed January 16, 2014

In re Sanrod Properties, LLC
   Bankr. E.D.N.C. Case No. 14-00312
     Chapter 11 Petition filed January 7, 2014
         See http://bankrupt.com/misc/nceb14-00312.pdf
         represented by: Stephen G. Inman, Esq.
                         MURRAY, CRAVEN & INMAN, LLP
                         E-mail: sgi@mcilaw.com

In re Marc Knapp
   Bankr. D. S.C. Case No. 14-00325
      Chapter 11 Petition filed January 16, 2014

In re James Taylor
   Bankr. M.D. Tenn. Case No. 14-00278
      Chapter 11 Petition filed January 16, 2014

In re WV Storage Systems, Inc.
   Bankr. S.D. W.Va. Case No. 14-30014
     Chapter 11 Petition filed January 7, 2014
         See http://bankrupt.com/misc/wvsb14-30014.pdf
         represented by: Frederick L. Delp, Esq.
                         E-mail: fldelp@comcast.net

In re Mark Donahue
   Bankr. S.D. W.Va. Case No. 14-30015
      Chapter 11 Petition filed January 16, 2014

In re Arthur Tellez
   Bankr. D. Ariz. Case No. 14-00651
      Chapter 11 Petition filed January 17, 2014

In re Masoud Amraei
   Bankr. C.D. Cal. Case No. 14-10991
      Chapter 11 Petition filed January 17, 2014

In re Frederick Sternberg
   Bankr. S.D. Fla. Case No. 14-11127
      Chapter 11 Petition filed January 17, 2014

In re Deborah Earnhart
   Bankr. N.D. Ind. Case No. 14-10058
      Chapter 11 Petition filed January 17, 2014

In re Mattiemase Properties, LLC
   Bankr. E.D. La. Case No. 14-10094
     Chapter 11 Petition filed January 17, 2014
         See http://bankrupt.com/misc/laeb14-10094.pdf
         represented by: D. Bruce Cameron, Esq.
                         E-mail: bruce@cameronlawfirm.com

In re Jerris Leonard
   Bankr. D. Md. Case No. 14-10838
      Chapter 11 Petition filed January 17, 2014

In re Illusion Optical Displays, Inc.
   Bankr. W.D. Mich. Case No. 14-00235
     Chapter 11 Petition filed January 17, 2014
         See http://bankrupt.com/misc/miwb14-00235.pdf
         represented by: Harold E. Nelson, Esq.
                         RHOADES MCKEE, P.C.
                         E-mail: ecf-hen@rhoadesmckee.com

In re Assistance Travel & Transport, Inc.
   Bankr. E.D.N.C. Case No. 14-00360
     Chapter 11 Petition filed January 17, 2014
         See http://bankrupt.com/misc/nceb14-00360.pdf
         represented by: Travis Sasser, Esq.
                         SASSER LAW FIRM
                         E-mail: tsasser@carybankruptcy.com

In re Todd Adams
   Bankr. W.D. Tenn. Case No. 14-20658
      Chapter 11 Petition filed January 17, 2014

In re Vincent Young
   Bankr. S.D. Tex. Case No. 14-30400
      Chapter 11 Petition filed January 17, 2014

In re Inc. The Church Of The Loving God
   Bankr. S.D. Cal. Case No. 14-00294
     Chapter 11 Petition filed January 19, 2014
         See http://bankrupt.com/misc/casb14-00294.pdf
         represented by: Christian McLaughlin, Esq.
                         LEGAL OBJECTIVE
                         E-mail: chris@legalobjective.com

In re NCS Realty Corporation
   Bankr. E.D.N.Y. Case No. 14-70189
     Chapter 11 Petition filed January 19, 2014
         See http://bankrupt.com/misc/nyeb14-70189.pdf
         represented by: Michael A. King, Esq.
                         E-mail: Romeo1860@aol.com
In re Donald Lloyd
   Bankr. D. Ariz. Case No. 14-00684
      Chapter 11 Petition filed January 20, 2014

In re ILSEM, L.L.C.
   Bankr. D. Del. Case No. 14-10096
     Chapter 11 Petition filed January 20, 2014
         See http://bankrupt.com/misc/deb14-10096.pdf
         represented by: John D. McLaughlin, Jr., Esq.
                         CIARDI CIARDI & ASTIN
                         E-mail: jmclaughlin@ciardilaw.com

In re Justo Acosta
   Bankr. S.D. Fla. Case No. 14-11260
      Chapter 11 Petition filed January 20, 2014

In re Steve Alexander
   Bankr. N.D. Ill. Case No. 14-01653
      Chapter 11 Petition filed January 20, 2014

In re Lindell Bell
   Bankr. D. Nev. Case No. 14-10339
      Chapter 11 Petition filed January 20, 2014

In re Daniel Hesse
   Bankr. E.D.N.Y. Case No. 14-70196
      Chapter 11 Petition filed January 20, 2014

In re Angelo Toscano
   Bankr. E.D.N.Y. Case No. 14-70200
      Chapter 11 Petition filed January 20, 2014

In re Huntington Energy Group, LLC
   Bankr. W.D. Pa. Case No. 14-20203
     Chapter 11 Petition filed January 20, 2014
         See http://bankrupt.com/misc/pawb14-20203.pdf
         represented by: J. Michael Baggett, Esq.
                         MCCANN GARLAND RIDALL & BURKE
                         E-mail: BAGGETTMJ@aol.com

In re Frank Manning
   Bankr. E.D. Tenn. Case No. 14-30135
      Chapter 11 Petition filed January 20, 2014




                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com by e-mail.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to the nation's bankruptcy courts.  The
list includes links to freely downloadable of these small-dollar
petitions in Acrobat PDF documents.

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.

                           *********

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, 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 2014.  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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