TCR_Public/140214.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Friday, February 14, 2014, Vol. 18, No. 44

                            Headlines

ABERDEEN LAND II: Plan Confirmation Objections Due March 20
ADAYANA INC: Sale to AVX Learning Closed in January
AFFINITY HEALTHCARE: Case Summary & 20 Top Unsecured Creditors
AMERICAN AIRLINES: American Eagle Pilot Leaders Reject Concessions
AMERICAN AMEX: Braich Fails to Close Sale Deal by Jan. 31 Deadline

ANDALAY SOLAR: Settles Potential Claims with ASC Recap
ARC REALTY: Court Enters Final Decree Closing Reorganization Case
ASPEN GROUP: Sophrosyne Stake at 8.95% as of Jan. 28
ASR CONSTRUCTORS: Wants Additional Time to File Chapter 11 Plan
ATLANTIC COAST: Incurs $11.4 Million Net Loss in Fiscal 2013

ATLS ACQUISITION: To Tap Third Parties for Collateral Review
ATLS ACQUISITION: Settlement With Integrated Media Approved
ATLS ACQUISITION: Has Court OK to Hire EYCA as Financial Advisor
ATLS ACQUISITION: Exclusive Plan Filing Deadline Moved to March 14
BEAZER HOMES: Incurs $5.1 Million Net Loss in Q1 2014

BERRY PLASTICS: Removes Annual Board Meeting Requirement
BG MEDICINE: To Transfer Listing to NASDAQ Capital Market
BLUE COAT: $50MM Add-on Loans No Impact on Moody's 'B2' CFR
BON-TON STORES: Gabelli Funds Stake at 4.7% as of Jan. 24
BOREAL WATER: Former Accountant Affirms Report on Non-Renewal

BROADVIEW NETWORKS: BlackRock Stake at 8.8% as of Dec. 31
BROOKSTONE INC: Mulls Bankruptcy Filing Within Weeks
CASH STORE: Can't Sell Payday Loan Products in Ontario
CENTENNIAL BEVERAGE: Judge Confirms 2nd Amended Plan
CHA CHA ENTERPRISES: Wells Fargo Won't Block Exclusivity Extension

CHAMPION INDUSTRIES: Reports $5.7MM Net Income in Fiscal 2013
CHARTER COMMUNICATIONS: Comcast Agrees to Buy Time Warner
CHINA LOGISTICS: Incurs $139,000 Net Loss in Third Quarter
COMMUNITY WEST: Inks Salary Continuation Pact with Executive
COMMUNITY WEST: To Redeem $1.4-Mil. Outstanding Debentures

COMMUNITY WEST: OCC Agreement Halted Amid Improvements
COMPETITIVE TECHNOLOGIES: J. Finley Stake at 5.6% as of Dec. 31
CUI GLOBAL: GROW Partners Stake at 6.8% as of Dec. 31
CYCLONE POWER: Authorized Common Shares Hiked to 900 Million
DETROIT, MI: Cancels Swaps Forbearance Deal With BofA, UBS

DETROIT, MI: Bankruptcy Case Drew Interest in 2013
DOGWOOD PROPERTIES: Has OK to Use Magna Bank's Cash Collateral
DOGWOOD PROPERTIES: Can Use Commercial Bank's Cash Collateral
DRIVEIT FINANCIAL: Case Summary & Largest Unsecured Creditor
DYCOM INDUSTRIES: Lower Revenues No Impact on Moody's Ba2 CFR

DYNASIL CORP: Has Yet to Obtain Waivers for Covenant Violations
ECO BUILDING: Authorized to Issue 30,000 Series A Pref. Stock
ENDEAVOUR INTERNATIONAL: Obtains $125-Mil. of Term Loan Facility
ENERGYSOLUTIONS INC: Suspending Filing of Reports with SEC
ENERGY SERVICES: Obtains New $10.4MM Loan, Forbearance Canceled

EPL OIL: Moody's Ups CFR to B2 & Sr. Unsecured Notes Rating to B3
ERF WIRELESS: Willow Creek Stake at 9.99% as of Jan. 29
ERIE COUNTY IDA: Fitch Maintains 'B' Rating on 2011 Revenue Bonds
EURAMAX HOLDINGS: Signs Employment Agreement with CFO
FIELD FAMILY: Second Amended Reorganization Plan Confirmed

FINJAN HOLDINGS: Former Intel Exec. Joins as VP, IP Licensing
FNBH BANCORP: Amends 2.3 Million Shares Rights Offering
FREEDOM INDUSTRIES: UST Seeks to Probe Bankruptcy Lawyers
FUSION TELECOMMUNICATIONS: Obtains $4.3MM From Stock Offering
GLOBAL SHIP: Lenders Agree to Waive Feb. 10 Covenant Test

GRAND CENTREVILLE: Can Use Cash Collateral Until July 31
GREAT LAKES PROPERTIES: Voluntary Chapter 11 Case Summary
GREGORY CANYONS: Creditors File Involuntary Bankruptcy Petition
GREGORY CANYONS: Involuntary Chapter 11 Case Summary
GRIFFON CORP: Moody's Affirms B1 CFR & Rates Unsecured Notes B1

GRIFFON CORP: S&P Affirms 'BB-' CCR & Rates $550MM Sr. Notes 'BB-'
GRUPO UNITED: Panama Says Canal Talks Making Progress
GUIDED THERAPEUTICS: George Landegger Amends 13G Filing
GULFCO HOLDING: Prospect Capital Seeks Dismissal of Ch. 11 Case
HAAS ENVIRONMENTAL: Panel Hires EisnerAmper as Financial Advisor

HAAS ENVIRONMENTAL: Hires Guida Realty as Real Estate Broker
HERCULES OFFSHORE: BlackRock Stake at 5.48% as of Dec. 31
HERON LAKE: Posts $2.3 Million Net Income in Fiscal 2013
HOPE ACADEMY: Fitch Affirms 'BB' Rating on $8.88MM Revenue Bonds
HOUSTON REGIONAL: Sports Network Is in Chapter 11 Officially

HOVNANIAN ENTERPRISES: BlackRock Holds 8.8% of Class A Shares
HOVNANIAN ENTERPRISES: Ara Hovnanian Owns 60% of Class B Shares
ILLINOIS INSTITUTE: Fitch Affirms BB Rating on $189MM Rev. Bonds
INTELLICELL BIOSCIENCES: Hanover No Longer a Shareholder
INTELLIPHARMACEUTICS INT'L: Sabby Healthcare's Stake Down to 1.02%

INTERNATIONAL LEASE: Fitch to Rate Delos Finance SARL Loan 'BB'
KEMET CORP: BlackRock Stake at 6.2% as of Dec. 31
KEMET CORP: Morgan Stanley Stake at 8.5% as of Dec. 31
KEMET CORP: Files Form 10-Q, Incurs $5.8MM Net Loss in Q3 2014
LE CENTER, MN: Moody's Affirms 'B1' Rating on $6.6MM Debt

LEHMAN BROTHERS: SIPA Trustee Begins Sale of Pools of Securities
LIFE CARE: SOLIC Replaces Navigant as Financial Advisor
LIFE CARE: Court OKs Hiring of Bryant Miller as Bond Counsel
LIGHTSQUARED INC: Approved for New $33 Million Secured Loan
LIQUIDMETAL TECHNOLOGIES: Amends 102MM Shares Resale Prospectus

LOMBARD, IL: S&P Cuts ICR to B & Debt Certificates Rating to B-
MCCLATCHY CO: Morgan Stanley Holds 7.7% of Class A Shares
MCCLATCHY CO: Lonestar Partners Owns 5.3% of Class A Shares
MDM OF LAKELAND: Voluntary Chapter 11 Case Summary
MEDIA GENERAL: Provides Information on New Young Broadcasting

MEDIA GENERAL: Registers 58.5 Million Shares for Resale
MEDIA GENERAL: Eaton Vance Stake at 8.69% as of Dec. 31
MF GLOBAL: Corzine Opposes Shutting Down Computers
MIDTOWN DEVELOPMENT: Voluntary Chapter 11 Case Summary
MT LAUREL: Hires Pinnacle Advisory as Appraiser and Expert Witness

MONTREAL MAINE: Judge Approves Increase to Bankruptcy Loan
MUSCLEPHARM CORP: Issues Update Letter to Shareholders
NEPHROS INC: Amends 9.1 Million Shares Prospectus
NEW YORK CITY OPERA: Performers Celebrate 70th Anniversary
NEWLEAD HOLDINGS: MG Partners Stake at 8.93% as of Dec. 31

NEXEO SOLUTIONS: Moody's Likely to Cut CFR to 'B' Over Leverage
NII HOLDINGS: Prudential Stake at 10.5% as of Jan. 29
NORD RESOURCES: Extends Maturity of Convertible Note to July 18
NORMAN REGIONAL: S&P Ups Rating on 2005/2002 Rev Bonds From 'BB+'
OPENLINK INT'L: Moody's Keeps 'B1' Rating on Repriced Term Loan

OPTIM ENERGY: Proposes $115-Mil. of DIP Financing From Parent
OPTIM ENERGY: Prime Clerk Okayed as Claims & Noticing Agent
OPTIM ENERGY: Case Summary & 30 Largest Unsecured Creditors
OPTIMUMBANK HOLDINGS: Incurs $2 Million Net Loss in 4th Quarter
ORCKIT COMMUNICATIONS: Willing to Accept Noteholders' Proposal

ORMET CORP: May Incur Additional Secured Debt
ORTHOFIX INTERNATIONAL: Gets NASDAQ Listing Non-Compliance Notice
OXYSURE SYSTEMS: Reduces Debt by Nearly $1 Million
PATRIOT COAL: Cleanup of Slurry Spill Continues, DEP Says
PHH CORP: Fitch Puts 'BB' LongTerm IDR on Rating Watch Evolving

PHH CORP: S&P Revises Outlook to Negative & Affirms 'BB-' ICR
PLY GEM HOLDINGS: Unit Closes Offering of $500-Mil. Senior Notes
PLY GEM HOLDINGS: JPMorgan Stake at 5.2% as of Dec. 31
PREMIER JETS: Case Summary & 20 Largest Unsecured Creditors
PRESSURE BIOSCIENCES: Iliad Research Stake at 5% as of Jan. 28

PROLOGIS INC: Fitch Currently Rates $100MM Preferred Stock 'BB+'
QUANTUM CORP: Incurs $2.4 Million Net Loss in Fiscal Q3
QUIZNOS: Sandwich Chain Reduces Menu
SAN BERNARDINO, CA: Carey Davis Elected as New Mayor
SHOTWELL LANDFILL: March 25 Hearing on Consolidated Ch. 11 Plan

SIMPLY WHEELZ: Secures FTC Approval for Sale to Catalyst
SOUTHERN GENERAL: A.M. Best Lowers Issuer Credit Rating to 'bb'
SUNEDISON INC: S&P Withdraws 'B+' CFR at Company's Request
TNS INC: Moody's Alters Outlook to Neg., & Affirms 'B2' CFR
TNS INC: S&P Affirms 'B+' Corp. Credit Rating; Outlook Stable

TRINITY COAL: Consummates Chapter 11 Plan
TRINITY COAL: Amended Reorganization Plan Declared Effective
TRINITY COAL: CRO and CFO Cease Employment as of Effective Date
TRONOX INC: Trust Opposes Anadarko Kerr-McGee Damages Cuts
USEC INC: Extends Cooperative Agreement with DOE Until April 15

USG CORP: Boral Joint Venture Delayed Due to Regulatory Process
VIGGLE INC: Buys Dijit, Expands Marketing & Promotions Platform
VILLAGE AT KNAPP'S: International Bank Wants Case Dismissal
VERTIS INC: Seeks Final Extension of Exclusive Periods
VYCOR MEDICAL: Issues Additional $1.7 Million Units

WAFERGEN BIO-SYSTEMS: Merlin BioMed Stake at 9.98% at Dec. 31
WEST CORP: Inks 4th Amendment to Wells Fargo Credit Agreement
WEST HAVEN LUMBER: Voluntary Chapter 11 Case Summary
WESTMORELAND COAL: Prices Add-On Offering of $425MM Senior Notes
YELLOWSTONE MOUNTAIN: Blixseth Assessed $13.8MM for Contempt

YP HOLDINGS: Moody's Affirms 'B2' CFR Over Term Loan Add-on
YP HOLDINGS: S&P Keeps 'B' Rating on $1BB Loan After Debt Upsize
YRC WORLDWIDE: Teamsters Extends CBA Until March 2019
YRC WORLDWIDE: Avenue Partners Amends Schedule 13D with SEC
YRC WORLDWIDE: Amends Agreements with Carlyle

YRC WORLDWIDE: Amici Capital Stake at 8.1% as of Jan. 24
YSC INC: Owners Retain Equity Under Reorganization Plan
YSC INC: May Use Cash Collateral Through March 2014

* George Canellos to Join Milbank as Global Head of Litigation
* Lifestyle Media Announces Leaders in Law Awards in South Florida
* Sheppard Mullin Elects Eight Attorneys to Partnership

* BOOK REVIEW: Land Use Policy in the United States


                             *********


ABERDEEN LAND II: Plan Confirmation Objections Due March 20
-----------------------------------------------------------
At the behest of debtor Aberdeen Land II, LLC and Aberdeen
Community Development District and U.S. Bank National Association,
the bankruptcy court entered an order clarifying and setting forth
these deadlines and requirements relating to confirmation of the
Debtor's Chapter 11 plan:

   -- The last day for filing and serving fee applications is
      March 13, 2014, which is 21 days before the confirmation
      hearing;

   -- The last day for filing and serving objections to
      confirmation of the Plan is March 20, 2014;

   -- The final day for filing a ballot accepting or rejecting
      the Plan is March 20, 2014; and

   -- On or before March 31, 2014, at 5:00 p.m., the plan
      proponent will file with the court a confirmation affidavit.

The U.S. Bankruptcy Court for the Middle District of Florida
earlier entered an order granting a joint agreed ex-parte motion
to continue hearing on the confirmation of the Debtor's Second
Amended Plan of Reorganization to April 4, 2014, at 10:00 a.m.

The court-approved disclosure statement says the Plan provides for
the continued operation of the Property of the Debtor's Estate, by
and through the Reorganized Debtor in accordance with the Plan.
It provides for cash payments to holders of allowed claims in
certain instances and for the transfer of property to certain
holders of allowed secured claims as the indubitable equivalent of
such allowed secured claims.  The primary source of the funds
necessary to implement the Plan initially will be the cash of the
Reorganized Debtor, exit financing and the sales of portions or
all of the Aberdeen real property.

Full-text copies of the Second Amended Disclosure Statement, filed
on Oct. 11, 2013, are available for free at:

       http://bankrupt.com/misc/ABERDEEN_2ndAmdDSOct11.PDF

                     About Aberdeen Land II

Aberdeen Land II, LLC, doing business as Aberdeen, owns
a 1,316-acre master- planned community near Jacksonville, Florida.
The project is designed for 1,623 single-family homes and 395
multi-family units.  More than 1,000 units have been sold, leaving
Aberdeen with 856 undeveloped lots and 28.1 acres zoned for
commercial or residential use.

Aberdeen filed a Chapter 11 petition (Bankr. M.D. Fla. Case No.
13-04103) on July 1, 2013, in Jacksonville, Florida.  The Debtor
has tapped Genovese Joblove & Battista, P.A., as counsel, Kapila &
Company as accountant, Kellerhals Ferguson Fletcher Kroblin, PLLC,
as special counsel, and Fishkind & Associates as expert
consultants.

Aberdeen owes $24 million in bonds that financed the project and
more than $20 million to secured lenders with mortgages on the
property.

In its amended schedules, the Debtor disclosed $41,165,861 in
assets and $31,189,704 in liabilities as of the petition date.

No creditors' committee was appointed in the case.


ADAYANA INC: Sale to AVX Learning Closed in January
---------------------------------------------------
Adayana, Inc., now known as Persist Liquidating Corporation, said
in a bankruptcy court filing that the sale of substantially all of
its assets to AVX Learning LLC closed on Jan. 10, 2014.

The bankruptcy court on Dec. 9, 2013, entered an order approving
the sale of the assets to AVX.

Although the Debtor and AVX explored the sale of one of the
Debtor's subsidiaries to a third party, the parties could not
reach a final agreement and no such transaction occurred.

The purchase price paid by AVX to the Debtor under the APA was a
credit bid of $5,000,000, plus any cure costs (which are estimated
to be $0), plus the forgiveness of any postpetition credit
extended by AVX.

                        About Adayana, Inc.

Adayana, Inc., is a holding company, incorporated under the laws
of the state of Minnesota.  Its primary assets are its equity
ownership interests in two separate operating companies, ABG, an
Adayana Company, and Vertex Solutions, Inc., one of which is
headquartered in Indianapolis, and the other in Virginia.  Both
operating companies are in the "human capital" business, providing
an array of technology-based consulting and training services.

Adayana valued the subsidiaries' stock at $8 million to
$12 million as of March 31, 2013.  It also owns personal
property with book value of $949,280.

Adayana, along with its two subsidiaries, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ind. Case No.
13-10919) on Oct. 14, 2013.

The Debtors are represented by Michael P. O'Neil, Esq., at Taft
Stettinius & Hollister LLP, in Indianapolis, Indiana.

Nancy J. Gargula, the United States Trustee for Region 10, said
that an official committee under 11 U.S.C. Sec. 1102 has not been
appointed in the bankruptcy case of Adayana, Inc.

The Debtor changed its name to Persist Liquidating Corporation on
January 10, 2014 after selling its assets to AVX Learning LLC.


AFFINITY HEALTHCARE: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Affinity Healthcare Services, Inc.
        216 Aquarius Drive, Suite 315
        Homewood, AL 35209

Case No.: 14-00477

Chapter 11 Petition Date: February 12, 2014

Court: United States Bankruptcy Court
       Northern District of Alabama (Birmingham)

Judge: Hon. Tamara O Mitchell

Debtor's Counsel: Herbert M Newell, III, Esq.
                  NEWELL & HOLDEN, LLC
                  2117 Jack Warner Parkway Ste 5
                  Tuscaloosa, AL 35401
                  Tel: 205 343-0340
                  Email: hnewell@newell-law.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Sandra R. McKenzie, president and CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/alnb14-477.pdf


AMERICAN AIRLINES: American Eagle Pilot Leaders Reject Concessions
------------------------------------------------------------------
The American Eagle Master Executive Council (MEC), represented by
the Air Line Pilots Association, Int'l, voted on Feb. 12 to reject
a recently negotiated agreement that would have provided contract
concessions in return for American Airlines Group (AAG) refleeting
American Eagle Airlines with new Embraer 175 regional jets.

"The vote [Thurs]day was about the future of our pilots' pay and
working conditions," said Capt. William Sprague, chairman of the
Eagle MEC.  "Eagle pilots ratified a concessionary agreement
during AMR's bankruptcy in 2012, but our management wanted to
reengage us for additional concessions a mere 10 days after AAG
exited bankruptcy.

"Our elected representatives agreed that this new round of
concessions was asking too much of a pilot group that has already
given up previously agreed-to contractual work rules and benefits
in order to ensure American Eagle's solvency.  We can no longer
stand by and watch our wages continue to be eroded when profits
continue to be made.

"Company representatives made it clear during these negotiations
that, should the agreement be rejected, AAG will place additional
aircraft with other carriers, closing the door on additional
opportunities for the Eagle pilots.  The Eagle MEC will explore
all options in the coming weeks to advance the interests of Eagle
pilots."

Founded in 1931, ALPA -- http://www.alpa.org-- is the world's
largest pilot union, representing nearly 50,000 pilots at 31
airlines in the United States and Canada.

                     About American Airlines

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

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

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

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

AMR and US Airways Group, Inc., on Feb. 14, 2013, announced a
definitive merger agreement under which the companies will combine
to create a premier global carrier, which will have an implied
combined equity value of approximately $11 billion.

The bankruptcy judge on Sept. 12, 2013, confirmed AMR Corp.'s plan
to exit bankruptcy through a merger with US Airways.  By
distributing stock in the merged airlines, the plan is designed to
pay all creditors in full, with interest.

Judge Sean Lane confirmed the Plan despite the lawsuit filed by
the U.S. Department of Justice and several states' attorney
general complaining that the merger violates antitrust laws.

In November 2013, AMR and the U.S. Justice Department a settlement
of the anti-trust suit.  The settlements require the airlines to
shed 104 slots at Reagan National Airport in Washington and 34 at
LaGuardia Airport in New York.

AMR stepped out of Chapter 11 protection after its $17 billion
merger with US Airways was formally completed on Dec. 9, 2013.


AMERICAN AMEX: Braich Fails to Close Sale Deal by Jan. 31 Deadline
------------------------------------------------------------------
American Amex, Inc. filed a report of status of sale saying that
Erwin Singh Braich has failed to abide by the court's order
directing a closing of the sale of substantially all of the assets
by Jan. 31, 2014.

The Debtor said that prior to closing and until the first week of
February, it was engaged with several communications with the
buyer, Mr. Braich, as trustee of the Peregrine Trust.  However, as
of Feb. 5, there is no information concerning the wire transfer of
the funds and Mr. Braich refuses to disclose any information
concerning this.

The court on Dec. 4, 2013, entered an order approving American
Amex's sale of all or substantially all assets free and clear of
interests, liens, and encumbrances.  The parties agreed that,
should Braich not close, then the property would be sold to the
highest bidder.  The Debtor believes the sale of the Buffalo Mine
should fetch at least $27 million, which is more than enough to
pay all claims scheduled and/or filed.

A copy of the report filed Feb. 5, is available for free at:

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

Responding to the report, Mr. Braich said he disagrees with the
characterizations of the events that occurred and requested that,
as need be, an evidentiary hearing if such facts are in issue
before the court.  Mr. Braich accepts, however, the proposed
resolution of the matter as set forth at paragraph 10 of the
Debtor's Report of Status of Sale: "[T]hat the Court enter an
order requiring Mr. Braich to cause the funds to be delivered to
Land Title, physically, by 12:00 Noon, PST, on 2/14/14."

The Court held a status hearing on Feb. 6.  The judge said that
the court will only consider a motion to extend the sale if money
is in escrow or in attorney's trust account.

             Sale Would Be Free From McFadden's Claims

In earlier filings, Mr. Braich, as trustee of the Peregrine Trust,
asked the court to enter a supplemental order directing that the
sale of American Amex, Inc.'s assets to Mr. Braich is free and
clear of claims of Timothy McFadden.

Timothy McFadden, Global HUB International Realty (Managing
Broker) Flagship of the Global Hub International on Dec. 18, 2013,
filed a claim by e-mail to Judge Randall Dunn.  An objection to
the McFadden claim was filed by the Debtor's attorneys on Dec. 20,
2013.

Mr. Braich tells the court that he does not want to wire
$27.5 million to the closing escrow without the court's order that
the sale is free and clear of the McFadden claim.

Mr. Braich is represented by:

         TARLOW NAITO & SUMMERS, LLP
         Brent G. Summers, Esq.
         150 SW Harrison Street, Suite 200
         Portland OR 97201
         Tel: 503-968-9000
         Fax: 503-968-9002
         E-mail: brent.summers@tnslaw.net

Following a hearing on Jan. 24, U.S. Bankruptcy Judge Randall L.
Dunn entered an order on Jan. 27 providing that:

   -- The closing of the sale will occur by close of business
      on Jan. 31, 2014.

   -- Upon closing of the sale, a report of sale will be filed
      with the court.

   -- The claims of Grant County for property taxes, Sable Palm,
      Robert Hills, and Raymond Weilage, to the extent specified
      in a prior order of the court, will be paid, as wells as
      closing costs and fees of the title company.  The title
      company will retain all further sums pending further order
      of the court.

   -- The property is to be sold free and clear of liens, claims
      and interests of any claim of McFadden, in addition to those
      previously specified.

   -- The McFadden claim will be determined by subsequent
      proceedings.

             McFadden Bid to Delay Sale Closing Denied

American Amex, Inc., sought and obtained an order denying an
attempt by Luis Morales, on behalf of Timothy M. McFadden, to
extend by 30 days the scheduled closing of the sale of the
Debtor's assets, in light of the claim asserted by Mr. McFadden.

U.S. Bankruptcy Judge Randall L. Dunn, following a hearing
Jan. 24, ruled, "IT IS ORDERED that the Motion is DENIED for the
reasons stated on the record at the Hearing."

The Debtor in its objection pointed out that the request for
extension was not filed by an attorney.  The Debtor said Luis
Morales is required to be an attorney pursuant to LBR 9010 and
LR 83-1.

Counsel of the Debtor, D. Blair Clark, Esq., points out that the
request for extension admits that Mr. McFadden filed a $3,000,000
claim.  The Court directed Mr. McFadden to perform specified
requirements in order to pursue his claim and gave notice that
failure to do so would result in disallowance of the claim.  To
date, nobody has done so, the Debtor said in a Jan. 23 filing.

According to Mr. Clark, even if there were a valid claim filed,
there is no reason to stop or delay the sale.  The liens (none of
which Mr. McFadden asserted) would attach to the proceeds of sale.
There is more than enough money set aside in order to pay the
claim if it is valid, which the Debtor vigorously denies it is.

Mr. Morales asserts that he has documentation that "earns him the
right to a commission" when the sale is consummated and then
requests that the closing be delayed.  There is no reason to delay
this closing, and as Mr. Morales was advised, the money to pay
this claim was being retained pending determination, if any, Mr.
Clark tells the Court.

                        About American Amex

American Amex, Inc., filed for Chapter 11 protection petition
(Bankr. D. Ore. Case No. 12-30656) on Feb. 1, 2012.  The Law
Offices of D. Blair Clark PLLC has been tapped as counsel.
In its amended schedules, the Debtor disclosed $34,000,000 in
total assets and $10,490,026 in total liabilities.

The Debtor is the legal owner of a mine in Grant County, Oregon,
known historically as the "Buffalo Mine."

American Amex in December 2013 won confirmation of its sale-based
Chapter 11 plan.  Under the Plan, all creditors are receiving full
payment from the proceeds from the sale of the Debtor's Buffalo
Mine.


ANDALAY SOLAR: Settles Potential Claims with ASC Recap
------------------------------------------------------
Andalay Solar, Inc., entered into a settlement of potential claims
agreement with ASC Recap LLC on Jan. 22, 2014.  Pursuant to the
Agreement, ASC has offered to purchase (and in one (1) case has
already purchased) approximately $3.7 million of the Company's
prior debt owed to four creditors for past due services at a
substantial discount to face value to which the Company has agreed
to issue to ASC certain shares of its common stock in a Section
3(a)(10) 1933 Act proceeding.  The shares of common stock that the
Company has agreed to issue to ASC in full payment for, and as a
release of any debt it purchases from the Creditors, is
anticipated to have, upon issuance, a market value equal to
approximately 25 percent of the principal amount of the
outstanding debt of the Company.  In the case of the debt ASC
already purchased from one (1) Creditor, the value of the stock
that the Company agreed to issue was 250 percent of the discounted
purchase price ASC paid to purchase the debt from the Creditor,
and approximately 25 percent of the original amount the Company
owed to the Creditor.  The stock to be issued by the Company and
the purchase of the debt by ASC of the remaining three Creditors
is subject to the acceptance of offers by the Creditors.

                         About Andalay Solar

Founded in 2001, Andalay Solar, Inc., formerly Westinghouse Solar,
Inc., is a provider of innovative solar power systems.  In 2007,
the Company pioneered the concept of integrating the racking,
wiring and grounding directly into the solar panel.  This
revolutionary solar panel, branded "Andalay", quickly won industry
acclaim.  In 2009, the Company again broke new ground with the
first integrated AC solar panel, reducing the number of components
for a rooftop solar installation by approximately 80 percent and
lowering labor costs by approximately 50 percent.  This AC panel,
which won the 2009 Popular Mechanics Breakthrough Award, has
become the industry's most widely installed AC solar panel.  A new
generation of products named "Instant Connect" was introduced in
2012 and is expected to achieve even greater market acceptance.

Burr Pilger Mayer, Inc., in San Francisco, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012, citing significant
operating losses and negative cash flow from operations that raise
substantial doubt about its ability to continue as a going
concern.

Westinghouse Solar disclosed a net loss of $8.62 million on
$5.22 million of net revenue in 2012, as compared with a net loss
of $4.63 million on $11.42 million of net revenue in 2011.

The Company's balance sheet at Sept. 30, 2013, showed $3.34
million in total assets, $6.24 million in total liabilities,
$180,468 in series A convertible redeemable preferred stock, $1.02
million in series D convertible preferred stock, and a $4.11
million total stockholders' deficit.


ARC REALTY: Court Enters Final Decree Closing Reorganization Case
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Nevada on Jan. 23
entered a final decree determining that the estate of Arc Realty
Ventures, LLC, has been fully administered, and therefore closed.

On Dec. 18, 2013, pursuant to the application of North-East
Realty, LLC for entry of an order dismissing the Debtor's case,
the Court ordered that the proceeding is dismissed.

On Dec. 13, Jerrold S. Kulback, Esq., at Archer & Greiner, a
Professional Corporation, on behalf of NER, replied to the
Debtor's objection to NER's motion for an order dismissing the
case, or, in the alternative, for relief from the automatic
stay, stating that, among other things, NER has standing to
prosecute the motion, the fact that NER collaterally pledged the
loans to Third-Eye Capital (TEC) does not mean that NER lacks
standing.  One only has to review the pledge agreements to
determine that NER remains the real party in interest with the
right to enforce the loan documents, NER said.

The Debtor, in its objection to NER's motion, stated that NER
holds no claim against the Debtor's estate, other than an indirect
interest through an equitable right of redemption of the mortgage,
assignment of rents and promissory note secured by the Debtor's
real property.

                  About Arc Realty Ventures, LLC

Warren, New Jersey-based Arc Realty Ventures, LLC, sought
protection under Chapter 11 of the Bankruptcy Code on Oct. 31,
2013 (Case No. 13-33862, Bankr. D.N.J.).  The case is assigned to
Judge Christine M. Gravelle.  The Debtor is represented by Eduardo
J. Glas, Esq., at McCarter & English, in Newark, New Jersey.

The Debtor has estimated assets ranging from $10 million to $50
million and estimated liabilities ranging from $1 million to $10
million.  The petition was signed by Murty Azzarapu, manager.


ASPEN GROUP: Sophrosyne Stake at 8.95% as of Jan. 28
----------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Sophrosyne Capital, LLC, disclosed that as of
Jan. 28, 2014, it beneficially owned 6,041,838 shares of common
and warrants (exercisable into common stock) of Aspen Group Inc.
representing 8.95 percent of the shares outstanding.  Sophrosyne
Capital previously reported beneficial ownership of 3,571,428
common shares and warrants (exercisable into common stock) as of
Oct. 11, 2012.  A copy of the regulatory filing is available for
free at http://is.gd/iAJwFm

                          About Aspen Group

Denver, Colo.-based Aspen Group, Inc., was founded in Colorado in
1987 as the International School of Information Management.  On
Sept. 30, 2004, it was acquired by Higher Education Management
Group, Inc., and changed its name to Aspen University Inc.  On
May 13, 2011, the Company formed in Colorado a subsidiary, Aspen
University Marketing, LLC, which is currently inactive.  On
March 13, 2012, the Company was recapitalized in a reverse merger.

Aspen's mission is to become an institution of choice for adult
learners by offering cost-effective, comprehensive, and relevant
online education.  Approximately 88 percent of the Company's
degree-seeking students (as of June 30, 2012) were enrolled in
graduate degree programs (Master or Doctorate degree program).
Since 1993, the Company has been nationally accredited by the
Distance Education and Training Council, a national accrediting
agency recognized by the U.S. Department of Education.

The Company reported a net loss of $6.01 million on $2.68 million
of revenues for the year ended Dec. 31, 2012, as compared with a
net loss of $2.13 million on $2.34 million of revenues during the
prior year.  The Company's balance sheet at Oct. 31, 2013, showed
$4.49 million in total assets, $5.45 million in total liabilities
and a $957,652 total stockholders' deficiency.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the transition period ending April 30, 2013.  The independent
auditors noted that the Company has a net loss allocable to common
stockholders and net cash used in operating activities for the
four months ended April 30, 2013, of $1,402,982 and $918,941,
respectively, and has an accumulated deficit of $12,740,086 at
April 30, 2013.  These matters raise substantial doubt about the
Company's ability to continue as a going concern.


ASR CONSTRUCTORS: Wants Additional Time to File Chapter 11 Plan
---------------------------------------------------------------
James C. Bastian, Jr., Esq., at Shulman Hodges & Bastian LLP, on
behalf of ASR Constructors, Inc., et al., asks the U.S. Bankruptcy
Court for the Central District of California to extend the
Debtors' exclusive periods to file and solicit acceptances of a
Chapter 11 bankruptcy plan for approximately 60 days from Another
Meridian Company, LLC's and Inland Machinery, Inc.'s current
exclusivity periods.

The exclusivity period by which only ASR may file a plan of
reorganization is scheduled to expire on Jan. 21, 2014, and the
period during which only ASR is authorized to solicit acceptances
of the plan will expire on March 19.  ASR filed the request for an
extension before the exclusive periods was set to expire.

The exclusivity period by which only Meridian and Inland may file
a plan will expire on Feb. 20, and the period during which only
Meridian and Inland are authorized to solicit acceptances of the
plan will expire on April 21.

According to Mr. Bastian, the extension will enable the Debtors
to address the principal disputes in the case impacting their
Chapter 11 plan.  Mr. Bastian adds that an effective chapter 11
plan cannot be filed until certain lien disputes are resolved.
Furthermore, distribution to unsecured claims depends on
resolution of the lien disputes or payment in full on secured
claims, which may not be known until the ASR bonded projects are
completed and sureties/insurers like Federal and Berkeley exhaust
collection of all receivables due on the pending ASR projects.

This is the Debtors' first request for an extension of the
exclusivity periods.

                      About ASR Constructors

ASR Constructors, Inc., filed a Chapter 11 petition (Bankr. C.D.
Cal. Case No. 13-25794) on Sept. 20, 2013.  The petition was
signed by Alan Regotti as president.  The Debtor estimated assets
and debts of at least $10 million.  Judge Mark D. Houle presides
over the case.  James C Bastian, Jr., Esq., at Shulman Hodges &
Bastian, LLP, serves as the Debtor's counsel.

The Law Office of John D. Mannerino serves as corporate counsel to
the Debtor.  Rodgers, Anderson, Malody & Scott LLP CPAs serves as
accountant to the Debtor.


ATLANTIC COAST: Incurs $11.4 Million Net Loss in Fiscal 2013
------------------------------------------------------------
Atlantic Coast Financial Corporation reported a net loss of $6.88
million on $6.90 million of total interest and dividend income for
the three months ended Dec. 31, 2013, as compared with a net loss
of $293,000 on $7.91 million of total interest and dividend income
for the same period a year ago.

For the year ended Dec. 31, 2013, the Company incurred a net loss
of $11.40 million on $28.83 million of total interest and dividend
income as compared with a net loss of $6.66 million on $33.50
million of total interest and dividend income during the prior
year.

The Company's balance sheet at Dec. 31, 2013, showed $733.63
million in total assets, $668.10 million in total liabilities and
$65.52 million in total stockholders' equity.

Atlantic Coast reported strong capital levels and superior asset
quality at Dec. 31, 2013.  A non-performing asset sale reduced
problem assets to pre-recession levels.  A capital raise resulted
in best-in-class capital ratios.

Commenting on the announcement, John K. Stephens, Jr., president
and chief executive officer, said, "We are very pleased with the
position of the Bank at December 31, 2013.  We recently raised
more than $45 million in a public offering that was very well
received by investors.  During the fourth quarter, we also
disposed of most of our non-performing assets.  We anticipate
completing the sale of two additional other real estate owned
assets in the first quarter; with those dispositions, on which we
do not expect to take additional losses, non-performing assets
will represent less than 1% of total assets.  Our capital ratios
are now very strong, exceeding those of almost all community banks
in our market area.  These actions, coupled with recent additions
to staff in new business development roles, have left us well
positioned to move the Company forward, serve our customers, and
create value for our stockholders."

James D. Hogan, executive vice president and chief financial
officer, commented, "With strong capital ratios and a clean
balance sheet, we believe we are well positioned to return to
profitability.  In the first quarter of 2014, our long-term debt
will begin to mature, which will help reduce our cost of funds.
We also should generate significant savings in expenses from
having a very low level of non-performing assets.  As a result, we
expect that the Bank will return to profitability in 2014."

A copy of the press release is available for free at:

                        http://is.gd/swZ4F2

                       About Atlantic Coast

Jacksonville, Florida-based Atlantic Coast Financial Corporation
is the holding company for Atlantic Coast Bank, a federally
chartered and insured stock savings bank.  It is a community-
oriented financial institution serving northeastern Florida and
southeastern Georgia markets through 12 locations, with a focus on
the Jacksonville metropolitan area.

The Company reported a net loss of $6.66 million on $33.50 million
of total interest and dividend income for the year ended Dec. 31,
2012, as compared with a net loss of $10.28 million on $38.28
million of total interest and dividend income in 2011.  Total
assets were $714.1 million at Sept. 30, 2013, compared
with $772.6 million at Dec. 31, 2012, as the Company has
continued to manage asset size consistent with its overall
capital management strategy.

McGladrey LLP, in Jacksonville, Florida, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that the
Company has suffered recurring losses from operations that have
adversely impacted capital at Atlantic Coast Bank.  The failure to
comply with the regulatory consent order may result in Atlantic
Coast Bank being deemed undercapitalized for purposes of the
consent order and additional corrective actions being imposed that
could adversely impact the Company's operations.  This raises
substantial doubt about the Company's ability to continue as a
going concern.


ATLS ACQUISITION: To Tap Third Parties for Collateral Review
------------------------------------------------------------
ATLS Acquisition, LLC, and its debtor-affiliates sought and
obtained authorization from the Hon. Peter J. Walsh of the U.S.
Bankruptcy Court for the District of Delaware to engage third-
parties to conduct a field examination, an inventory appraisal and
real estate appraisals of the Debtors' business on behalf of
potential lenders in connection with the Debtors' on-going exit
financing process and to pay fees and expenses in connection
therewith.

The Debtors are in the process of obtaining financing to allow
them to fund a plan of reorganization.  The Debtors will not be
able to obtain committed financing from any of the interested
lenders without engaging third parties to complete a collateral
review.  The Debtors seek authority to use cash collateral to
engage third-parties to conduct a field examination, an inventory
appraisal and a real estate appraisals for the three owned
properties in order to facilitate obtaining committed financing
for their a plan of reorganization.  The Collateral Review will
not exceed $150,000 without the consent of the Official Committee
of Unsecured Creditors or additional order from the Court.

Allowing the Debtors to directly or, as it pertains to appraisers,
through a financing provider, engage a field examiner, an
inventory appraiser and a real estate appraiser will benefit the
Debtors' estates, as the parties interested in providing financing
may otherwise insist on utilizing a number of third-party field
examiners and appraisers.

The Debtors estimate that a collateral review would take at least
three to four weeks to complete given the situation and size of
the potential transaction.  Once completed, the lenders will need
time to evaluate the results of the Collateral Review before
providing a commitment to the Debtors.  The Debtors seek to emerge
from Chapter 11 as soon as possible this spring.  Moving forward
expeditiously with a Collateral Review is crucial to the Debtors'
ability to timely emerge from Chapter 11.

                       About Liberty Medical

Entities that own diabetics supply provider Liberty Medical led by
ATLS Acquisition, LLC, sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 13-10262) on Feb. 15, 2013, just less than
three months after a management buy-out and amid a notice by the
lender who financed the transaction that it's exercising an option
to acquire the business.

Liberty has been in business for 22 years serving the needs of
both type 1 and type 2 diabetic patients.  Liberty is a mail order
provider of diabetes testing supplies. In addition to diabetes
testing supplies, the Debtors also sell insulin pumps and insulin
pump supplies, ostomy, catheter and CPAP supplies and operate a
large mail order pharmacy.  Liberty operates in seven different
locations and has 1,684 employees.

Dennis A. Meloro, Esq., Nancy A. Mitchell, Esq., and Joseph P.
Davis, Esq., at Greenberg Traurig, LLP; and Enu Mainigi, Esq., and
Jennifer G. Wicht, Esq., at Williams & Connolly LLP, Washington,
D.C., serve as the Debtor's counsel; Ernst & Young LLP to provide
investment banking advice; and Epiq Bankruptcy Solutions, LLC, as
claims and noticing agent for the Clerk of the Bankruptcy Court.

An official committee of unsecured creditors has been appointed in
the case and consists of LifeScan, Inc., Abbott Laboratories, and
Teva Pharmaceuticals USA, Inc.  They are represented by Joseph H.
Huston Jr., Esq., Maria Aprile Sawczuk, Esq., and Camille C. Bent,
Esq., of Stevens & Lee P.C. as well as Bruce Buechler, Esq., S.
Jason Teele, Esq., and Nicole Stefanelli, Esq. of Lowenstein
Sandler LLP.  The Committee has tapped Mesirow Financial
Consulting, LLC, as financial advisors.


ATLS ACQUISITION: Settlement With Integrated Media Approved
-----------------------------------------------------------
The Hon. Peter J. Walsh of the U.S. Bankruptcy Court for the
District of Delaware has approved the settlement agreement and
mutual general release between Liberty Medical Supply, Inc., and
Integrated Media Solutions Partners LLC, resolving certain claims
for indemnification, counsel fees and expenses asserted by Liberty
against IMS.

Under the Settlement Agreement, IMS will pay to Liberty the total
sum of $120,000 as provided in the Settlement Agreement.  Liberty
and IMS will exchange mutual general releases.  The Settlement
Agreement represents a compromise of claims that are disputed as
to validity and amount, and is not an admission of liability or
fault by either Liberty or IMS.  With the exception of the mutual
general releases, there are no third-party beneficiaries to the
Settlement Agreement.  The Settlement Agreement, and all claims
and controversies arising out of or related to the Settlement
Agreement, will be governed by the substantive law of New York,
without regard to its conflict of laws principles.

On Dec. 14, 2009, Liberty and IMS entered into an advertising
services agreement, pursuant to which IMS provided advertising
services to Liberty.  Thereafter, Bonro Medical, Inc., filed a
lawsuit against Liberty in the U.S. District Court for the
Southern District of Georgia.  In the complaint, Bonro alleged
violations of the federal Lanham Act, 15 U.S.C. Section 1125 and a
violation of Bonro's rights under the common law of Georgia.
Liberty demanded that IMS defend and indemnify Liberty with
respect to the claims asserted by Bonro.  The Lawsuit was settled
and the proceedings were dismissed with prejudice.  Liberty and
IMS jointly funded the settlement of the Lawsuit.

Liberty incurred counsel fees and expenses in defending the
allegations asserted in the Lawsuit.  Liberty demanded that IMS
reimburse it for the fees and expenses incurred by Liberty.  IMS
disputed their responsibility for Liberty's counsel fees and
expenses in connection with the Lawsuit.  After negotiations IMS
and Liberty have reached an agreement to resolve the dispute over
the counsel fees incurred in the Lawsuit and all other claims that
Liberty and IMS may have against each other, if any.

                       About Liberty Medical

Entities that own diabetics supply provider Liberty Medical led by
ATLS Acquisition, LLC, sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 13-10262) on Feb. 15, 2013, just less than
three months after a management buy-out and amid a notice by the
lender who financed the transaction that it's exercising an option
to acquire the business.

Liberty has been in business for 22 years serving the needs of
both type 1 and type 2 diabetic patients.  Liberty is a mail order
provider of diabetes testing supplies. In addition to diabetes
testing supplies, the Debtors also sell insulin pumps and insulin
pump supplies, ostomy, catheter and CPAP supplies and operate a
large mail order pharmacy.  Liberty operates in seven different
locations and has 1,684 employees.

Dennis A. Meloro, Esq., Nancy A. Mitchell, Esq., and Joseph P.
Davis, Esq., at Greenberg Traurig, LLP; and Enu Mainigi, Esq., and
Jennifer G. Wicht, Esq., at Williams & Connolly LLP, Washington,
D.C., serve as the Debtor's counsel; Ernst & Young LLP to provide
investment banking advice; and Epiq Bankruptcy Solutions, LLC, as
claims and noticing agent for the Clerk of the Bankruptcy Court.

An official committee of unsecured creditors has been appointed in
the case and consists of LifeScan, Inc., Abbott Laboratories, and
Teva Pharmaceuticals USA, Inc.  They are represented by Joseph H.
Huston Jr., Esq., Maria Aprile Sawczuk, Esq., and Camille C. Bent,
Esq., of Stevens & Lee P.C. as well as Bruce Buechler, Esq., S.
Jason Teele, Esq., and Nicole Stefanelli, Esq. of Lowenstein
Sandler LLP.  The Committee has tapped Mesirow Financial
Consulting, LLC, as financial advisors.


ATLS ACQUISITION: Has Court OK to Hire EYCA as Financial Advisor
----------------------------------------------------------------
The Hon. Peter J. Walsh of the U.S. Bankruptcy Court for the
District of Delaware has granted ATLS Acquisition, LLC, and its
debtor-affiliates to employ Ernst & Young Capital Advisors, LLC,
as financial advisor, nunc pro tunc to Jan. 1, 2014.

As reported by the Troubled Company Reporter on Feb. 11, 2014, the
Debtors require EYCA to, among other things: (a) evaluate the
Debtors' potential debt capacity in light of projected cash flows;
(b) advise the Debtors on financial issues in connection with the
Debtors' determination of a capital structure in connection with a
Financing; and (c) advise the Debtors on tactics and strategies
for negotiating with lenders or investors.

                       About Liberty Medical

Entities that own diabetics supply provider Liberty Medical led by
ATLS Acquisition, LLC, sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 13-10262) on Feb. 15, 2013, just less than
three months after a management buy-out and amid a notice by the
lender who financed the transaction that it's exercising an option
to acquire the business.

Liberty has been in business for 22 years serving the needs of
both type 1 and type 2 diabetic patients.  Liberty is a mail order
provider of diabetes testing supplies. In addition to diabetes
testing supplies, the Debtors also sell insulin pumps and insulin
pump supplies, ostomy, catheter and CPAP supplies and operate a
large mail order pharmacy.  Liberty operates in seven different
locations and has 1,684 employees.

Dennis A. Meloro, Esq., Nancy A. Mitchell, Esq., and Joseph P.
Davis, Esq., at Greenberg Traurig, LLP; and Enu Mainigi, Esq., and
Jennifer G. Wicht, Esq., at Williams & Connolly LLP, Washington,
D.C., serve as the Debtor's counsel; Ernst & Young LLP to provide
investment banking advice; and Epiq Bankruptcy Solutions, LLC, as
claims and noticing agent for the Clerk of the Bankruptcy Court.

An official committee of unsecured creditors has been appointed in
the case and consists of LifeScan, Inc., Abbott Laboratories, and
Teva Pharmaceuticals USA, Inc.  They are represented by Joseph H.
Huston Jr., Esq., Maria Aprile Sawczuk, Esq., and Camille C. Bent,
Esq., of Stevens & Lee P.C. as well as Bruce Buechler, Esq., S.
Jason Teele, Esq., and Nicole Stefanelli, Esq. of Lowenstein
Sandler LLP.  The Committee has tapped Mesirow Financial
Consulting, LLC, as financial advisors.


ATLS ACQUISITION: Exclusive Plan Filing Deadline Moved to March 14
------------------------------------------------------------------
The Hon. Peter J. Walsh of the U.S. Bankruptcy Court for the
District of Delaware has extended the period within which only
ATLS Acquisition, LLC, and its debtor-affiliates may file a plan
of reorganization through and including March 14, 2014, and the
period within which only the Debtors may solicit acceptances of a
plan through and including May 14, 2014.

Any motion to further extend the Exclusive Periods will be set for
the hearing scheduled on March 13, 2014.

As reported by the Troubled Company Reporter on Jan. 31, 2014, the
Debtors sought the extension, saying that they have made
tremendous progress to resolve the complex issues affecting the
Chapter 11 cases, including, among other things, initiating an
exit financing process which is on-going and has resulted in
multiple expressions of interest.  Specifically, the Debtors have
executed nondisclosure agreements with 17 parties and produced a
confidential information memorandum detailing the current
situation and financial overview. As of Jan. 10, 2014, the Debtors
had received preliminary term sheets from eight parties with
indication the a few more may be received in the coming days.  The
term sheets are subject to customary business, financial and legal
due diligence which the Debtors intend to address during the
requested extension.

                       About Liberty Medical

Entities that own diabetics supply provider Liberty Medical led by
ATLS Acquisition, LLC, sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 13-10262) on Feb. 15, 2013, just less than
three months after a management buy-out and amid a notice by the
lender who financed the transaction that it's exercising an option
to acquire the business.

Liberty has been in business for 22 years serving the needs of
both type 1 and type 2 diabetic patients.  Liberty is a mail order
provider of diabetes testing supplies. In addition to diabetes
testing supplies, the Debtors also sell insulin pumps and insulin
pump supplies, ostomy, catheter and CPAP supplies and operate a
large mail order pharmacy.  Liberty operates in seven different
locations and has 1,684 employees.

Dennis A. Meloro, Esq., Nancy A. Mitchell, Esq., and Joseph P.
Davis, Esq., at Greenberg Traurig, LLP; and Enu Mainigi, Esq., and
Jennifer G. Wicht, Esq., at Williams & Connolly LLP, Washington,
D.C., serve as the Debtor's counsel; Ernst & Young LLP to provide
investment banking advice; and Epiq Bankruptcy Solutions, LLC, as
claims and noticing agent for the Clerk of the Bankruptcy Court.

An official committee of unsecured creditors has been appointed in
the case and consists of LifeScan, Inc., Abbott Laboratories, and
Teva Pharmaceuticals USA, Inc.  They are represented by Joseph H.
Huston Jr., Esq., Maria Aprile Sawczuk, Esq., and Camille C. Bent,
Esq., of Stevens & Lee P.C. as well as Bruce Buechler, Esq., S.
Jason Teele, Esq., and Nicole Stefanelli, Esq. of Lowenstein
Sandler LLP.  The Committee has tapped Mesirow Financial
Consulting, LLC, as financial advisors.


BEAZER HOMES: Incurs $5.1 Million Net Loss in Q1 2014
-----------------------------------------------------
Beazer Homes USA, Inc., reported a net loss of $5.13 million on
$293.17 million of total revenue for the three months ended
Dec. 31, 2013, as compared with a net loss of $20.38 million on
$246.90 million of total revenue for the same period a year ago.

The Company's balance sheet at Dec. 31, 2013, showed $1.93 billion
in total assets, $1.69 billion in total liabilities and $235.60
million in total stockholders' equity.

"We continued to make year-over-year improvements in our key
operational metrics during the quarter," said Allan Merrill, CEO
of Beazer Homes.  "Higher sales per community, average sales
prices and gross margins led us to improved adjusted EBITDA and
kept us on track to achieve full year profitability for Fiscal
2014."

A copy of the press release is available for free at:

                        http://is.gd/1AC9Kf

                         About Beazer Homes

Beazer Homes USA, Inc. (NYSE: BZH) -- http://www.beazer.com/--
headquartered in Atlanta, is one of the country's 10 largest
single-family homebuilders with continuing operations in Arizona,
California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada,
New Jersey, New Mexico, North Carolina, Pennsylvania, South
Carolina, Tennessee, Texas, and Virginia.  Beazer Homes is listed
on the New York Stock Exchange under the ticker symbol "BZH."

Beazer Homes incurred a net loss of $33.86 million for the year
ended Sept. 30, 2013, a net loss of $145.32 million for the year
ended Sept. 30, 2012, and a net loss of $204.85 million for the
year ended Sept. 30, 2011.

                           *     *     *

Beazer carries a 'B-' issuer credit rating, with "negative"
outlook, from Standard & Poor's.

In the Jan. 30, 2013 edition of the TCR, Moody's Investors Service
raised Beazer Homes USA, Inc.'s corporate family rating to 'Caa1'
from 'Caa2' and probability of default rating to 'Caa1-PD' from
'Caa2-PD'.  The ratings upgrade reflects Moody's increasing
confidence that Beazer's credit metrics, buoyed by a stregthening
housing market, will gradually improve for at least the next two
years and that the company may be able to return to a modestly
profitable position as early as fiscal 2014.

As reported by the TCR on Sept. 10, 2012, Fitch Ratings has
upgraded the Issuer Default Rating (IDR) of Beazer Homes USA, Inc.
(NYSE: BZH) to 'B-' from 'CCC'.  The upgrade and the stable
outlook reflect Beazer's operating performance so far this year,
its robust cash position, and moderately better prospects for the
housing sector during the remainder of this year and in 2013.  The
rating is also supported by the company's execution of its
business model, land policies, and geographic diversity.


BERRY PLASTICS: Removes Annual Board Meeting Requirement
--------------------------------------------------------
The Board of Directors of Berry Plastics Group, Inc., amended
Section 3.3 of the Company's bylaws by deleting the requirement
for an annual meeting of the Board of Directors on the same date
as the annual meeting of stockholders.  This amendment provides
for increased flexibility regarding the timing of meetings of the
Board of Directors.

                       About Berry Plastics

Berry Plastics Corporation manufactures and markets plastic
packaging products, plastic film products, specialty adhesives and
coated products.  At Jan. 2, 2010, the Company had more than 80
production and manufacturing facilities, primarily located in the
United States.  Berry is a wholly-owned subsidiary of Berry
Plastics Group, Inc.  Berry Group is primarily owned by affiliates
of Apollo Management, L.P., and Graham Partners.  Berry, through
its wholly owned subsidiaries operates five reporting segments:
Rigid Open Top, Rigid Closed Top, Flexible Films, Tapes/Coatings
and Specialty Films.  The Company's customers are located
principally throughout the United States, without significant
concentration in any one region or with any one customer.

On Dec. 3, 2009, Berry Plastics obtained control of 100 percent of
the capital stock of Pliant upon Pliant's emergence from
reorganization pursuant to a proceeding under Chapter 11 for a
purchase price of $602.7 million.  Pliant is a leading
manufacturer of value-added films and flexible packaging for food,
personal care, medical, agricultural and industrial applications.
The acquired business is primarily operated in Berry's Specialty
Films reporting segment.

The Company's balance sheet at Sept. 28, 2013, the Company had
$5.13 billion in total assets, $5.33 billion in total liabilities
and a $196 million stockholders' deficit.

                           *     *     *

As reported by the TCR on Feb. 1, 2013, Moody's Investors Service
upgraded the corporate family rating of Berry Plastics to B2 from
B3 and the probability of default rating to B2-PD from B3-PD.  The
upgrade of the corporate family rating to B2 from B3 reflects
the improvement in pro-forma credit metrics and management's
publicly stated goal to pursue a less aggressive, more balanced
financial profile.

In November 2011, Standard & Poor's Ratings Services affirmed the
'B-' corporate credit rating on Berry and its holding company
parent, Berry Plastics Group Inc.  "The ratings on Berry reflect
the risks associated with the company's highly leveraged financial
profile and acquisition- driven growth strategy as well as its
fair business risk profile," said Standard & Poor's credit analyst
Cynthia Werneth.

In November 2011, Standard & Poor's Ratings Services affirmed the
'B-' corporate credit rating on Berry and its holding company
parent, Berry Plastics Group Inc.  "The ratings on Berry reflect
the risks associated with the company's highly leveraged financial
profile and acquisition- driven growth strategy as well as its
fair business risk profile," said Standard & Poor's credit analyst
Cynthia Werneth.


BG MEDICINE: To Transfer Listing to NASDAQ Capital Market
---------------------------------------------------------
The NASDAQ Listing Qualifications Panel has granted BG Medicine,
Inc.'s request for the transfer of its listing from The NASDAQ
Global Market to The NASDAQ Capital Market, which transfer will be
effective Jan. 27, 2014.  The Company's securities will continue
to trade on NASDAQ under the symbol "BGMD."

The Company's continued listing on NASDAQ is subject to certain
conditions, including the Company's satisfaction of the applicable
$35 million market value of listed securities requirement (the
"Market Cap Requirement") or the alternative requirement of $2.5
million in stockholders' equity on or before April 15, 2014.
Compliance with the Market Cap Requirement can be achieved by
evidencing a market value of listed securities of at least $35
million (based on the closing bid price for the Company's common
stock) for a minimum of 10 consecutive business days, but
generally for not more than 20 consecutive business days.  The
Company is diligently working to timely satisfy the terms of the
Panel's decision; however, there can be no assurance that the
Company will be able to do so.

As previously disclosed in a Current Report on Form 8-K dated
Nov. 15, 2013, on Nov. 14, 2013, the Company was notified by
NASDAQ that it no longer satisfied the $50 million market value of
listed securities requirement for continued listing on The NASDAQ
Global Market and that its securities were therefore subject to
delisting.  The Company subsequently requested a hearing before
the Panel, at which hearing the Company requested the transfer of
its listing to The NASDAQ Capital Market pursuant to an extension
within which to evidence compliance with the Market Cap
Requirement or the alternative stockholders' equity requirement by
April 15, 2014.

                          About BG Medicine

Waltham, Mass.-based BG Medicine is a diagnostics company focused
on the development and commercialization of novel cardiovascular
diagnostic tests to address significant unmet medical needs,
improve patient outcomes and contain healthcare costs.  The
Company is currently commercializing two diagnostic tests, the
first of which is the BGM Galectin-3 test, a novel assay for
measuring galectin-3 levels in blood plasma or serum for use as an
aid in assessing the prognosis of patients diagnosed with heart
failure.  The Company's second diagnostic test is the CardioSCORE
test, which is designed to identify individuals at high risk for
near-term, significant cardiovascular events, such as heart attack
and stroke.

In its annual report for the period ended Dec. 31, 2012, the
Company said: "We expect to incur further losses in the
commercialization of our cardiovascular diagnostic test and the
operations of our business and have been dependent on funding our
operations through the issuance and sale of equity securities.
These circumstances may raise substantial doubt about our ability
to continue as a going concern."

BG Medicine reported a net loss of $23.8 million in 2012, compared
with a net loss of $17.6 million in 2011.  As of Sept. 30, 2013,
the Company had $13.56 million in total assets, $12.95 million in
total liabilities and a $610,000 total stockholders' equity.


BLUE COAT: $50MM Add-on Loans No Impact on Moody's 'B2' CFR
-----------------------------------------------------------
Moody's Investors Service said Blue Coat Systems, Inc.'s B2
Corporate Family Rating, the B1 rating for Blue Coat's first lien
credit facility, the Caa1 rating for its second lien credit
facility and the negative ratings outlook are not affected by the
company's plans to raise $50 million of add-on first lien term
loans.

Headquartered in Sunnyvale, CA, Blue Coat Systems, Inc. is a
leading provider of Internet security and wide area network
acceleration solutions.


BON-TON STORES: Gabelli Funds Stake at 4.7% as of Jan. 24
---------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Gabelli Funds, LLC, and its affiliates
disclosed that as of Jan. 24, 2014, they beneficially owned
840,000 shares of common stock of The Bon-Ton Stores, Inc.,
representing 4.79 percent of the shares outstanding.  Gabelli
Funds previously reported beneficial ownership of 700,000 common
shares or 4 percent equity stake as of Jan. 17, 2014.  A copy of
the regulatory filing is available for free at http://is.gd/HgNnID

                        About Bon-Ton Stores

The Bon-Ton Stores, Inc., with corporate headquarters in York,
Pennsylvania and Milwaukee, Wisconsin, operates 273 department
stores, which includes 10 furniture galleries, in 25 states in the
Northeast, Midwest and upper Great Plains under the Bon-Ton,
Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman,
Herberger's and Younkers nameplates and, in the Detroit, Michigan
area, under the Parisian nameplate.

For the 39 weeks ended Nov. 2, 2013, the Company reported a net
loss of $64.89 million.  The Company incurred a net loss of $21.55
million for the year ended Feb. 2, 2013, following a net loss of
$12.12 million for the year ended Jan. 28, 2012.  The Company's
balance sheet at Nov. 2, 2013, showed $1.80 billion in total
assets, $1.75 billion in total liabilities and $48.87 million in
total shareholders' equity.

                           *     *     *

As reported by the TCR on May 15, 2013, Moody's Investors Service
upgraded The Bon-Ton Stores, Inc.'s Corporate Family Rating to B3
from Caa1 and its Probability of Default Rating to B3-PD from
Caa1-PD.

"The upgrade of Bon-Ton's Corporate Family Rating considers the
company's ability to drive modest same store sales growth as well
as operating margin expansion beginning in the second half of 2012
and that these positive trends have continued, with the company
reporting that its same store were positive, and EBITDA margins
expanded, in the first fiscal quarter of 2013," said Moody's Vice
President Scott Tuhy.

As reported by the TCR on May 17, 2013, Standard & Poor's Ratings
Services affirmed the 'B-' corporate credit rating on The Bon-Ton
Stores Inc.


BOREAL WATER: Former Accountant Affirms Report on Non-Renewal
-------------------------------------------------------------
Patrick Rodgers, CPA, PA, in Altamonte Springs, Florida, former
accounting firm of Boreal Water Collection, Inc., provided a
letter to the U.S. Securities and Exchange Commission stating that
he agrees in all respects with the statements made in the
Company's Form 8-K filing dated Feb. 4, 2014.

In that report, the Company disclosed that Mr. Rodgers has
declined to stand for re-election as the Company's auditor as of
the year ending Dec. 31, 2013.  Mr. Rodgers had been the Company's
auditor for the past five years and is required by law to stand
down.  Mr. Rodgers informed the COmpany of his decision on
Dec. 19, 2013.  The decision to change accountants was made by the
Company's Board of Directors.
   
"On December 31, 2013, my appointment as auditor for Boreal Water
Collection, Inc. ceased.  I have read Boreal Water Collection,
Inc. statements included under Item 4.01 of its Form 8-K dated
February 4, 2014 and agree with such statements," Mr. Rogers
stated.

                         About Boreal Water

Kiamesha Lake, N.Y.-based Boreal Water Collection, Inc., is a
personalized bottled water company specializing in premium custom
bottled water.

The Company reported a net loss of $822,902 on $2.7 million of
sales in 2012, compared with a net loss of $1.3 million on
$2.7 million of sales in 2011.  The Company's balance sheet at
Sept. 30, 2013, showed $3.58 million in total assets, $2.66
million in total liabilities and $918,250 in total stockholders'
equity.

Patrick Rodgers, CPA, in his report on the consolidated financial
statements for the year ended Dec. 31, 2012, expressed substantial
doubt about Boreal Water Collection, Inc.'s ability to continue as
a going concern, citing that the Company has a minimum cash
balance available for payment of ongoing operating expenses, has
experienced losses operations since inception, and it does not
have a source of revenue sufficient to cover its operating costs.


BROADVIEW NETWORKS: BlackRock Stake at 8.8% as of Dec. 31
---------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, BlackRock, Inc., disclosed that as of Dec. 31, 2013,
it beneficially owned 883,150 shares of common stock of Broadview
Networks Holdings Inc. representing 8.8 percent of the shares
outstanding.  A copy of the regulatory filing is available for
free at http://is.gd/Eokane

                      About Broadview Networks

Rye Brook, N.Y.-based Broadview Networks Holdings, Inc., is a
communications and IT solutions provider to small and medium sized
business ("SMB") and large business, or enterprise, customers
nationwide, with a historical focus on markets across 10 states
throughout the Northeast and Mid-Atlantic United States, including
the major metropolitan markets of New York, Boston, Philadelphia,
Baltimore and Washington, D.C.

Ernst & Young LLP, in New York, N.Y., issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2011.  The independent auditors noted that the
Company has in excess of $300 million of debt due on or before
September 2012.  "In addition, the Company has incurred net losses
and has a net stockholders' deficiency."

The Company reported a net loss of $11.9 million for 2011,
compared with a net loss of $18.8 million for 2010.  The Company's
balance sheet at June 30, 2012, showed $255.25 million in total
assets, $378.96 million in total liabilities, and a $123.71
million total stockholders' deficiency.

                           *     *     *

In the July 23, 2012, edition of the Troubled Company Reporter,
Moody's Investors Service downgraded Broadview Networks Holdings,
Inc. Corporate Family Rating (CFR) to Caa3 from Caa2 and the
Probability of Default Rating (PDR) to Ca from Caa3 in response to
the company's announcement that it has entered into a
restructuring support agreement with holders of roughly 70% of its
preferred stock and roughly 66-2/3% of its Senior Secured Notes.
The company is expected to file a pre-packaged Chapter 11 Plan of
Reorganization or complete an out of court exchange offer.

As reported by the TCR on July 25, 2012, Standard & Poor's Ratings
Services lowered its corporate credit rating on Broadview to 'D'
from 'CC'.  "This action follows the company's announced extension
on its revolving credit facility.  We expect to lower the issue-
level rating on the notes to 'D' once the company files for
bankruptcy, or if it misses the Sept. 1, 2012 maturity payment on
the notes," S&P said.


BROOKSTONE INC: Mulls Bankruptcy Filing Within Weeks
----------------------------------------------------
Emily Glazer, writing for The Wall Street Journal, reported that
Brookstone Inc., known for its wide array of consumer gadgets such
as massage chairs and travel electronics, is contemplating filing
for bankruptcy protection in the coming weeks as talks advance
with potential buyers, people familiar with the matter said.

The report notes Brookstone has been plagued by disappointing
sales, weak liquidity and a hefty debt load.  Brookstone, sources
told WSJ, is in talks with firms including Hilco Global and Tiger
Capital Group LLC on buying or investing in the company.  A
liquidation of the mall- and airport-based chain isn't currently
on the table, some of these people added, though a potential buyer
would likely evaluate the company's more than 250 stores.

"In order to ensure Brookstone's successful future, the Company is
evaluating its options with respect to refinancing and/or
restructuring its bond and other debt, and improving its capital
structure," the company said in a written statement to The Wall
Street Journal. "We are in active discussions with our senior
lender and an ad hoc group of Brookstone bondholders in regard to
our bonds due October 2014, with the goal of coming to an
agreement that is amenable to all parties."

The company, which is based in Merrimack, N.H., and has about $140
million in debt, stressed that it hasn't yet reached a deal with a
potential buyer or investor or decided whether or not it will file
for bankruptcy protection, the report related.

Brookstone, which got its start as a catalog retailer in 1965
selling "hard-to-find tools," was taken private in 2005 by
investment firms J.W. Childs Associates LP, Osim International
Ltd. and Temasek Holdings Pte. Ltd., the report further related.
The $440 million deal saddled the company with additional debt,
and Brookstone failed to meet sales expectations amid a recession
that cut into consumers' disposable income, according to people
familiar with the matter. Increased competition from Internet
retailers also hurt the company's sales.


CASH STORE: Can't Sell Payday Loan Products in Ontario
------------------------------------------------------
Cash Store Financial on Feb. 13 disclosed that the Company is not
currently permitted to sell any payday loan products in Ontario.
As reported on Feb. 12, the Company is no longer offering any of
its line of credit products in Ontario.

The Company also disclosed that in February last year, the Company
began brokering the basic line of credit as part of a wider
initiative to offer a risk-based suite of line of credit products
allowing customers to build credit and gain access to less costly
funding.  On June 7, 2013, an application was commenced in the
Ontario Superior Court of Justice pursuant to section 54(1) of the
Payday Loans Act seeking a declaration that the basic line of
credit constitutes a payday loan under subsection 1(1) of the
Payday Loans Act.  The application was heard on November 29, 2013
and the decision was delivered on Feb. 12.

As part of its overall business strategy, the current regulatory
environment and the decision, the Company has taken the steps
necessary to immediately cease offering all line of credit
products offered to its customers in Ontario branches.

                     About Cash Store Financial

Headquartered in Edmonton, Alberta, The Cash Store Financial is
the only lender and broker of short-term advances and provider of
other financial services in Canada that is listed on the Toronto
Stock Exchange (TSX: CSF).  Cash Store Financial also trades on
the New York Stock Exchange (NYSE: CSFS).  Cash Store Financial
operates 512 branches across Canada under the banners "Cash Store
Financial" and "Instaloans".  Cash Store Financial also operates
25 branches in the United Kingdom.

Cash Store Financial is a Canadian corporation that is not
affiliated with Cottonwood Financial Ltd. or the outlets
Cottonwood Financial Ltd. operates in the United States under the
name "Cash Store".  Cash Store Financial does not do business
under the name "Cash Store" in the United States and does not own
or provide any consumer lending services in the United States.

Cash Store Financial employs approximately 1,900 associates.

As restated, the Company reported a net loss and comprehensive
loss of $43.52 million on $187.41 million of revenue for the year
ended Sept. 30, 2012, as compared with a net loss of $43.08
million as originally reported.

                          *     *     *

As reported in the Feb. 8, 2013 edition of the TCR, Standard &
Poor's Ratings Services lowered its issuer credit rating on Cash
Store Financial (CSF) to 'CCC+' from 'B-'.  The outlook is
negative.

"The downgrades follow a proposal by the payday loan registrar in
Ontario to revoke CSF's payday lending licenses and CSF's
announcement that it has discontinued its payday loan product in
the region," said Standard & Poor's credit analyst Igor Koyfman.
The company's businesses in Ontario, which account for
approximately one-third of its store count, will begin offering a
new line of credit product to its customers.  S&P believes this is
to offset the loss of its payday lending product; however, this is
a relatively new product, and S&P believes that it will be
challenging for the company to replace its lost earnings from the
payday loan product.  S&P also believes that the registrar's
proposal could lead to similar actions in other territories.

As reported by the TCR on May 22, 2013, Moody's Investors Service
downgraded the Corporate Family Rating and senior unsecured debt
rating of Cash Store Financial Services to Caa1 from B3 and
assigned a negative outlook.  According to Moody's, CSFS remains
unprofitable on both the pretax and net income lines and prospects
for return to profitability are unclear.


CENTENNIAL BEVERAGE: Judge Confirms 2nd Amended Plan
----------------------------------------------------
The Hon. Barbara J. Houser of the U.S. Bankruptcy Court for
the Northern District of Texas on Feb. 12, 2014, confirmed the
Second Amended Chapter 11 plan of Liquidation of Centennial
Beverage Group LLC.

Judge Houser held that, if the application for final decree is
not filed within 180 days of the entry of the order, a status
conference will be held on Aug. 18, 2014, at 9:00 a.m.

Judge Houser approved the adequacy of the information in the
disclosure statement on Dec. 18, 2013.  The disclosure statement
was approved despite objections by the Official Committee of
Unsecured Creditors, Arlington ISD, City of Azle, Eagle Mountain-
Saginaw ISD, City of Lake Worth, and Crowley ISD', and other
parties.

                           Plan Overview

The Plan provides for the liquidation of the Debtor's remaining
assets and the distribution of the Debtor's assets to creditors,
pursuant to the priority provisions of the Bankruptcy Code.  Under
the Plan, the Debtor anticipates that allowed administrative
claims, allowed priority tax claims, if any, and allowed priority
non-tax claims, if any, will be paid in full.  If the Debtor has
insufficient cash to treat claims in the manner required by
Bankruptcy Code Section 1129(a)(9), the Debtor anticipates that
certain estate professionals will agree to reduce the amount of
their professional fee claims or subordinate a portion of such
professional fee claims in order to ensure that sufficient funds
are available for compliance with Bankruptcy Code Section
1129(a)(9).

According to the Plan, to the extent that the Debtor has
insufficient cash to pay allowed administrative claims, allowed
priority tax claims, if any, and allowed priority non-tax claims,
if any, pursuant to the terms of the Plan, all such claims will
not be paid in full, and shall be paid in accordance with the
priority provisions of the Bankruptcy Code.

The Plan indicates that Compass Bank, the secured lender to the
Debtor, will receive, in full and final satisfaction of the
Compass Bank allowed secured claim, payment of the remaining
principal and interest due under a revolving loan agreement.  For
payment of all other outstanding indebtedness owed to Compass Bank
under a certain indebtedness documents, including remaining
principal and interest, penalties, and fees -- including
attorneys' and advisors' fees -- Compass Bank will be entitled to
exercise all of its rights and remedies under that documents and
applicable law against parties other than the Debtor and assets
other than assets of the estate, assets of the liquidating trust
and the professional fee reserve, without further order or action
of the Bankruptcy Court, including, without limitation, the right
to foreclose on, take possession of, or otherwise liquidate the
assets of JWV Associates Ltd.  JWV is limited partner of the
Debtor.

In addition, to the extent the JWV Assets are insufficient to
fully repay all outstanding amounts due under the indebtedness
documents, Compass Bank will receive the Compass Bank unsecured
claim, which claim will be in the full amount of any such
deficiency.  All estate assets that remain after satisfaction of
allowed administrative claims, allowed priority tax claims, and
allowed priority non-tax claims will be distributed to the holders
of allowed general unsecured claims through a liquidation trust.

The Plan provides that holders of interests will not receive any
distribution, and all interests in the Debtor will be canceled and
extinguished.

                         Plan Supplement

On Jan. 22, 2014, the Debtor filed a supplement to its Chapter 11
plan.  The plan supplement contains a draft of the liquidation
trust agreement for the Centennial liquidation trust.  Rob
Yaquinto will serve as the liquidation trustee for the Centennial
liquidation trust.

A full-text copy of the Second Amended Disclosure Statement
explaining the Plan is available for free at http://is.gd/ESdGo4

A full-text copy of the Supplement to the Second Amended Plan is
available for free at http://is.gd/JkN9c9

                      About Centennial Beverage

Centennial Beverage Group LLC, a chain of 23 liquor stores in
Texas, filed a petition for Chapter 11 reorganization (Bankr.
N.D. Tex. Case No. 12-37901) amid lower sales brought by
competition from big-box retailers.  The 75-year-old-company once
had 70 stores throughout Texas.  They are now concentrated in the
Dallas-Fort Worth area.  Sales for the year ended in November 2012
were $158 million.  Year-over-year, revenue was down 50%,
according to a court filing.  In its schedules, the Debtor
disclosed $24,053,049 in assets and $48,451,881 in liabilities as
of the Petition Date.

Robert Dew Albergotti, Esq., and Ian T. Peck, Esq., at Haynes and
Boone, LLP, in Dallas, serve as counsel to the Debtor.  M. Jack
Martin, III, Esq., at Jack Martin & Associates, in Austin, Tex.,
serves as special counsel.  RGS LLC serves as the Debtor's
financial advisor.  BYGH Tax Consulting is property tax consultant
to the Debtor.

The Official Committee of Unsecured Creditors has retained Munsch
Hardt Kopf & Harr, P.C. as its attorneys, and Lain, Faulkner &
Co., P.C. as financial advisors.


CHA CHA ENTERPRISES: Wells Fargo Won't Block Exclusivity Extension
------------------------------------------------------------------
Cha Cha Enterprises, LLC, asked the U.S. Bankruptcy Court for the
Northern District of California to approve a stipulation between
the Debtor and secured creditor Wells Fargo Bank, N.A., with the
Bank agreeing not to file any pleading in response to the further
exclusivity extension motion other than this Stipulation.

As reported by the Troubled Company Reporter on Jan. 28, 2014,
Paul J. Pascuzzi, Esq., at Willoughby & Pascuzzi LLP, on behalf of
the Debtor, asked the Court to extend the Debtor's exclusive
periods to file a plan of reorganization until May 19, 2014; and
solicit acceptances for that plan also until May 19.  Mr. Pascuzzi
said that substantially all of the Debtor's income derives from
rent from its related entity, Mi Pueblo San Jose, Inc., as well as
the Debtor's business operations in Mi Pueblo's 21 grocery stores.
The formulation of the Debtor's plan depends upon Mi Pueblo's
future business operations.  Mi Pueblo is also in Chapter 11 and
needs additional time to finalize its future financing before Mi
Pueblo will know how it will emerge from Chapter 11.

Under the Stipulation, the exclusivity extension motion may be
granted subject to the condition that if the loans made by the
Bank to the Debtor and its affiliate and companion debtor, Mi
Pueblo, and the obligations of the Debtor and Mi Pueblo to the
Bank in connection therewith have not been acquired from the Bank
by Victory Park Capital Advisors, LLC, or its affiliates, or
satisfied or terminated, as the case may be, on or before Feb. 28,
2014, the Debtor's period of exclusivity to file a plan extended
as sought by the further exclusivity extension motion will
terminate on Feb. 28; provided, however, that if the Debtor files
a plan by Feb. 28, 2014, it will retain the 60-day additional
exclusivity period to obtain acceptances of that plan, that is,
until 60 days after the Debtor files that plan if it does so on or
before Feb. 28.

Wells Fargo is represented by:

         JEFFER MANGELS BUTLER & MITCHELL LLP
         Robert B. Kaplan, Esq.
         Nicolas De Lancie, Esq.
         Two Embarcadero Center, Fifth Floor
         San Francisco, California 94111-3813
         Tel: (415) 398-8080
         Fax: (415) 398-5584
         E-mail: rbk@jmbm.com
                 nde@jmbm.com

                     About Cha Cha Enterprises

Cha Cha Enterprises, LLC, is a California limited liability
company formed in 1998 to purchase a fee interest in property
located at 1775 Story Road, San Jose, California and a leasehold
interest in  property located at 1745 Story Road in San Jose.  Cha
Cha's primary business is the rental of real property.

Cha Cha filed a Chapter 11 petition (Bankr. N.D. Cal. Case
No. 13-53894) on July 22, 2013.  The Debtor estimated at least
$10 million in assets and liabilities.

An affiliate, Mi Pueblo San Jose, Inc., sought Chapter 11
protection (Case No. 13-53893) on the same day.  The cases are not
jointly administered.

Steven H. Felderstein, Esq., at Felderstein Fitzgerald Willoughby
& Pascuzzi LLP serves as counsel.

Nicolas De Lancie, Esq., at Jeffer Mangels Butler & Mitchell LLP
Robert B. Kaplan, P.C. represents secured creditor Wells Fargo
Bank, N.A.


CHAMPION INDUSTRIES: Reports $5.7MM Net Income in Fiscal 2013
-------------------------------------------------------------
Champion Industries, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing net
income of $5.71 million on $72.32 million of total revenues for
the year ended Oct. 31, 2013, as compared with a net loss of
$23.31 million on $87.15 million of total revenues for the year
ended Oct. 31, 2012.  The Company incurred a net loss of $3.97
million for the year ended Oct. 31, 2011.

The Company reported net income of $11.16 million for the three
months ended Oct. 31, 2013, as compared with a net loss of
$1.62 million for the same period a year ago.

As of Oct. 31, 2013, the Company had $27.53 million in total
assets, $23.19 million in total liabilities and $4.33 million in
total shareholders' equity.

Marshall T. Reynolds, Chairman of the Board and chief executive
officer of Champion, said, "We exited our relationship with our
former secured lenders during the fourth quarter of 2013 and are
focused on our remaining business segments with an emphasis on the
execution of our core competencies.  Our results continue to be
impacted by various non-cash events but we continue to generate
positive cash flow from operating activities and our revised debt
structure allows us enhanced flexibility to focus on our
business."

Arnett Foster Toothman PLLC, in Charleston, West Virginia, did not
issue a going concern qualification on the consolidated financial
statements for the year ended Oct. 31, 2013.  The accounting firm
previously expressed substantial doubt about Champion Industries'
ability to continue as a going concern following the fiscal 2012
annual results.  The independent auditors noted that the Company
has suffered recurring losses from operations and has been unable
to obtain a longer term financing solution with its lenders.

Prior to the October 2013 Credit Agreement, the Company operated
under the provisions of the May 2013 Forbearance Agreement
effective May 31, 2013, which expired Sept. 30, 2013, as amended
Aug. 28, 2013.  The May 2013 Forbearance Agreement required the
Company to achieve a multitude of targeted goals and covenants to
remain in compliance.  Many of these requirements were beyond the
control of the Company although at the date of the agreement, the
Company determined there was at least a reasonable possibility of
achieving compliance through the Sept. 30, 2013, contractual
maturity date.  The Company was also required, under the terms of
the May 2013 Forbearance Agreement, to comply with financial
covenants, which are non-GAAP financial measures.  Prior to the
October 2013 Credit Agreement and primarily as a result of the
credit situation with the Previous Secured Lenders there was
significant uncertainty about the Company's ability to operate as
a going concern.

"In recent years, the Company operated for extended periods both
in default and under forbearance agreements as it navigated its
way through the continued challenges and residual effects of the
global economic crisis.  The Company believes that there has been
a fundamental shift in the way in which financial institutions, in
general, evaluate cash flow credits and that the amount of
leverage in which the financial institutions are willing to lend
has decreased generally over the last several years," the Company
said in the filing.

As a result of the Company's current credit situation and the
challenges within the economic climate faced by the Company, the
Company faces substantial liquidity related challenges for fiscal
2014 and beyond.  The liquidity factors the Company faces include:

   * Implementation of an operating plan to rationalize and
     improve its cost and operating structure.

   * Management of the Company's receipts and disbursements to
     improve days sales outstanding for trade receivables and
     manage its days outstanding for trade payables as well as
     maintain its trade credit availability.

   * Managing the Company's credit relationships.

   * Carefully monitor capital expenditures to assure cash flow is
     maximized.

   * Manage the Company's customer relationships in light of the
     ongoing credit challenges faced by the Company.

   * The potential for the Company's interest costs and other
     credit related expenses to exceed its ability to generate
     sufficient cash to meet other obligations including scheduled
     principal amortization payments to secured lenders.

   * The scheduled maturity of the Company's Credit Facilities on
     April 1, 2015.

   * Operating the company on a working capital basis without a
     revolving line of credit.

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

                        http://is.gd/ye4uJC

                     About Champion Industries

Champion Industries, Inc., is engaged in the commercial printing
and office products and furniture supply business in regional
markets east of the Mississippi River.  The Company also publishes
The Herald-Dispatch daily newspaper in Huntington, West Virginia
with a total daily and Sunday circulation of approximately 23,000
and 28,000.


CHARTER COMMUNICATIONS: Comcast Agrees to Buy Time Warner
---------------------------------------------------------
The Wall Street Journal reported that Time Warner Cable Inc.
accepted a $45 billion merger proposal from Comcast Corp. and got
rid of an unwanted suitor, Charter Communications Inc.

As previously reported by The Troubled Company Reporter, Charter
Communications launched an eight-month takeover battle for Time
Warner and offered to buy the company for $37.4 billion in
January.  Time Warner refused that offer, saying the price was too
low.  Instead of pursuing negotiations, Charter sought to enlist
shareholders of Time Warner Cable to put pressure on the company's
management and board to negotiate a deal.  Charter has recently
nominated a collection of cable-industry veterans, former
investment bankers, and other businesspeople as candidates to
replace Time Warner's board.

Charter is unlikely to make a counterbid for Time Warner Cable,
the Journal said, citing people familiar with the matter, given
the price gap between its most recent bid of $132.50 per share and
Comcast's offer, which was inked at $158.82 a share.  Charter, the
fourth-largest cable operator in the U.S., by subscriber numbers,
also is likely to look for other acquisition targets, said people
familiar with the company's thinking.

According to the Journal, Liberty Media Corp.'s John Malone had
been aiming to use Charter as a vehicle through which to
consolidate the U.S. cable sector, and Liberty quickly set its
sights on Time Warner Cable, the No. 2 operator behind Comcast.
Charter made three offers, all of which were rejected by Time
Warner Cable as too low.  Time Warner Cable Chief Executive Rob
Marcus had said Time Warner Cable wanted $160 a share.

Comcast said it is prepared to divest three million managed
subscribers as part of the transaction, the Journal related.
Charter is expected to look at buying these assets, people
familiar with the situation said. It will also look at buying a
few rivals smaller than Time Warner in the meantime, one of the
people said.

One possible large target is Cox Communications Inc., the nation's
third-biggest cable operator, which Charter eyed last year,
according to a person familiar with the matter, the Journal
further related.  With about 4.5 million TV subscribers, Cox ranks
slightly ahead of Charter in size. However, it is unclear whether
the controlling family of closely-held Cox Enterprises, of which
Cox is a unit, would be willing to sell.

Based in St. Louis, Missouri, Charter Communications, Inc. (Pink
OTC: CHTRQ) -- http://www.charter.com/-- is a broadband
communications company and the fourth-largest cable operator in
the United States.  Charter provides a full range of advanced
broadband services, including advanced Charter Digital Cable(R)
video entertainment programming, Charter High-Speed(R) Internet
access, and Charter Telephone(R).  Charter Business(TM) similarly
provides scalable, tailored, and cost-effective broadband
communications solutions to business organizations, such as
business-to-business Internet access, data networking, video and
music entertainment services, and business telephone.  Charter's
advertising sales and production services are sold under the
Charter Media(R) brand.

Charter Communications and more than a hundred affiliates filed
voluntary Chapter 11 petitions on March 27, 2009 (Bankr. S.D.N.Y.
Case No. 09-11435).  As of March 31, 2009, the Debtors had total
assets of $13,650,000,000, and total liabilities of
$24,501,000,000.  Pacific Microwave filed for bankruptcy April 20,
2009, disclosing assets of not more than $50,000 and debts of more
than $1 billion.

The Hon. James M. Peck presided over the cases.  Lawyers at
Kirkland & Ellis LLP, in New York, served as counsel to the
Debtors, excluding Charter Investment Inc.  Albert Togut, Esq., at
Togut, Segal & Segal LLP in New York, served as Charter
Investment, Inc.'s bankruptcy counsel.  Curtis, Mallet-Prevost,
Colt & Mosel LLP, in New York, was the Debtors' conflicts counsel.
Ernst & Young LLP was the Debtors' tax advisors.  KPMG LLP was the
Debtors' independent auditor.  The Debtors' valuation consultants
were Duff & Phelps LLC; the Debtors' financial advisors were
Lazard Freres & Co. LLC; and the Debtors' restructuring
consultants were AlixPartners LLC.  The Debtors' regulatory
counsel was Davis Wright Tremaine LLP, and Friend Hudak & Harris
LLP.  The Debtors' claims agent was Kurtzman Carson Consultants
LLC.

Judge James M. Peck of the U.S. Bankruptcy Court for the Southern
District of New York approved the Debtors' pre-arranged joint plan
of reorganization in a bench ruling on Oct. 15, 2009.

On Nov. 30, 2009, Charter Communications announced that it
has completed its financial restructuring, which significantly
improves the Company's capital structure by reducing debt by
approximately 40 percent, or approximately $8 billion.


CHINA LOGISTICS: Incurs $139,000 Net Loss in Third Quarter
----------------------------------------------------------
China Logistics Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $138,933 on $3.19 million of sales for the three
months ended Sept. 30, 2013, as compared with a net loss of
$204,975 on $6.34 million of sales for the same period a year ago.

For the nine months ended Sept. 30, 2013, the Company incurred a
net loss of $446,557 on $10.08 million of sales as compared with
net income of $490,533 on $17.91 million of sales for the same
period during the prior year.

The Company's balance sheet at Sept. 30, 2013, showed $4.56
million in total assets, $4.44 million in total liabilities and
$120,023 in total stockholders' equity.

"The Company has an accumulated deficit of $20,688,873 at
September 30, 2013.  During the nine months ended September 30,
2013, the Company used cash in operating activities of $374,320.
The Company has reported net loss of $446,557 and net income of
$490,533 for the nine months ended September 30, 2013 and 2012,
respectively.  The Company's ability to continue as a going
concern is dependent upon its ability to increase its revenues to
historic levels, generate profitable operations in the future and
to obtain any necessary financing to meet its obligations and
repay its liabilities arising from normal business operations when
they come due.  The outcome of these matters cannot be predicted
at this time.  These matters raise substantial doubt about the
ability of the Company to continue as a going concern," the
Company said in the Quarterly Report.

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

                        http://is.gd/ysn9ep

                       About China Logistics

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

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

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


COMMUNITY WEST: Inks Salary Continuation Pact with Executive
------------------------------------------------------------
The Board of Directors of Community West Bancshares approved a
salary continuation agreement with Martin E. Plourd in recognition
of his valuable services to the Company and to encourage Mr.
Plourd to continue his employment.  A copy of the Salary
Continuation Agreement is available for free at:

                        http://is.gd/Ir6RlD

                       About Community West

Community West Bancshares is a financial services company
headquartered in Goleta, California, that provides full service
banking and lending through its wholly owned subsidiary Community
West Bank, which has five California branch banking offices in
Goleta, Santa Barbara, Santa Maria, Ventura and Westlake Village.

The Company's balance sheet at Sept. 30, 2013, showed $535.48
million in total assets, $470.83 million in total liabilities and
$64.64 million in total stockholders' equity.

                         Regulatory Actions

On Jan. 26, 2012, the Bank entered into a consent agreement with
the Comptroller of the Currency, the Bank's primary banking
regulator, which requires the Bank to take certain corrective
actions to address certain deficiencies in the operations of the
Bank, as identified by the OCC.  The Bank has taken action to
comply with the terms of the OCC Agreement, which actions have
been discussed in previous filings with the Securities and
Exchange Commission.  In addition to the actions so identified,
the Bank has taken the following actions:

The Bank has achieved the required minimum capital ratios required
by Article III of the OCC Agreement, and as of Sept. 30, 2013, the
Bank's Tier 1 Leverage Capital ratio was 12.06% and the Total
Risk-Based Capital ratio was 17.11%.

The Bank's Board of Directors continues to prepare a written
evaluation of the Bank's performance against the capital plan on a
quarterly basis, including a description of actions the Bank will
take to address any shortcomings, which is documented in Board
meeting minutes.

At its monthly meetings, the Compliance Committee continues to
review the Bank's processes, personnel and control systems to
ensure they are adequate in accordance with the Article IV of the
OCC Agreement.

"While the Bank believes that it is in substantial compliance with
the OCC Agreement, no assurance can be given that the OCC will
concur with the Bank's assessment.  Failure to comply with the
provisions of the OCC Agreement may subject the Bank to further
regulatory action, including but not limited to, being deemed
undercapitalized for purposes of the OCC Agreement, and the
imposition by the OCC of prompt corrective action measures or
civil money penalties which may have a material adverse impact on
the Company's financial condition and results of operations," the
Company said in its quarterly report for the period ended
Sept. 30, 2013.


COMMUNITY WEST: To Redeem $1.4-Mil. Outstanding Debentures
----------------------------------------------------------
Community West Bancshares' Board of Directors has approved
exercise of its option to redeem all outstanding convertible
subordinated debentures in accordance with section 2.2 of the
Debenture Agreement.  An early termination letter will be sent to
subordinated debenture holders of record.  The Company has fixed
March 10, 2014, as the date for early redemption.  The outstanding
debentures at Dec. 31, 2013, were $1,442,000 and are convertible
to shares of the Company's common stock at $4.50 per share.

                        About Community West

Community West Bancshares is a financial services company
headquartered in Goleta, California, that provides full service
banking and lending through its wholly owned subsidiary Community
West Bank, which has five California branch banking offices in
Goleta, Santa Barbara, Santa Maria, Ventura and Westlake Village.

The Company's balance sheet at Sept. 30, 2013, showed $535.48
million in total assets, $470.83 million in total liabilities and
$64.64 million in total stockholders' equity.

                         Regulatory Actions

On Jan. 26, 2012, the Bank entered into a consent agreement with
the Comptroller of the Currency, the Bank's primary banking
regulator, which requires the Bank to take certain corrective
actions to address certain deficiencies in the operations of the
Bank, as identified by the OCC.  The Bank has taken action to
comply with the terms of the OCC Agreement, which actions have
been discussed in previous filings with the Securities and
Exchange Commission.  In addition to the actions so identified,
the Bank has taken the following actions:

The Bank has achieved the required minimum capital ratios required
by Article III of the OCC Agreement, and as of Sept. 30, 2013, the
Bank's Tier 1 Leverage Capital ratio was 12.06% and the Total
Risk-Based Capital ratio was 17.11%.

The Bank's Board of Directors continues to prepare a written
evaluation of the Bank's performance against the capital plan on a
quarterly basis, including a description of actions the Bank will
take to address any shortcomings, which is documented in Board
meeting minutes.

At its monthly meetings, the Compliance Committee continues to
review the Bank's processes, personnel and control systems to
ensure they are adequate in accordance with the Article IV of the
OCC Agreement.

"While the Bank believes that it is in substantial compliance with
the OCC Agreement, no assurance can be given that the OCC will
concur with the Bank's assessment.  Failure to comply with the
provisions of the OCC Agreement may subject the Bank to further
regulatory action, including but not limited to, being deemed
undercapitalized for purposes of the OCC Agreement, and the
imposition by the OCC of prompt corrective action measures or
civil money penalties which may have a material adverse impact on
the Company's financial condition and results of operations," the
Company said in its quarterly report for the period ended
Sept. 30, 2013.


COMMUNITY WEST: OCC Agreement Halted Amid Improvements
------------------------------------------------------
Community West Bancshares, parent company of Community West Bank
(Bank), announced that, as a result of improvement of its
financial condition over the past 24 months, and the Bank's
effective compliance with the Written Consent Agreement, the
Office of the Comptroller of the Currency (OCC), its primary
regulator, has terminated its Agreement with Community West Bank
entered into on Jan. 26, 2012.  Effective immediately, the Bank
will no longer be subject to the terms and conditions of the
Agreement.

"The termination of our Agreement with the OCC is an independent
confirmation of the improvements we have achieved over the past
two years.  This important milestone substantiates that our
efforts to reduce problem assets, document the allowance for loan
losses and return to profitability have been successful," said
Martin Plourd, president and CEO.  "On October 24, 2013, we
announced our fifth consecutive quarter of profitability and our
capital ratios substantially exceeded regulatory requirements for
a well-capitalized institution.  We still understand that there is
continuing work ahead to further reduce problem assets, however,
we believe we are now in an excellent position to move forward and
grow our franchise."

On Jan. 26, 2012, the Bank entered into a consent agreement with
the Comptroller of the Currency, the Bank's primary banking
regulator, which requires the Bank to take certain corrective
actions to address certain deficiencies in the operations of the
Bank, as identified by the OCC.  The Bank has taken action to
comply with the terms of the OCC Agreement, which actions have
been discussed in previous filings with the Securities and
Exchange Commission.  In addition to the actions so identified,
the Bank has taken the following actions:

The Bank has achieved the required minimum capital ratios required
by Article III of the OCC Agreement, and as of Sept. 30, 2013, the
Bank's Tier 1 Leverage Capital ratio was 12.06% and the Total
Risk-Based Capital ratio was 17.11%.

The Bank's Board of Directors continues to prepare a written
evaluation of the Bank's performance against the capital plan on a
quarterly basis, including a description of actions the Bank will
take to address any shortcomings, which is documented in Board
meeting minutes.

At its monthly meetings, the Compliance Committee continues to
review the Bank's processes, personnel and control systems to
ensure they are adequate in accordance with the Article IV of the
OCC Agreement.

While the Bank believes that it is in substantial compliance with
the OCC Agreement, no assurance can be given that the OCC will
concur with the Bank?s assessment.  Failure to comply with the
provisions of the OCC Agreement may subject the Bank to further
regulatory action, including but not limited to, being deemed
undercapitalized for purposes of the OCC Agreement, and the
imposition by the OCC of prompt corrective action measures or
civil money penalties which may have a material adverse impact on
the Company's financial condition and results of operations.

                        About Community West

Community West Bancshares is a financial services company
headquartered in Goleta, California, that provides full service
banking and lending through its wholly owned subsidiary Community
West Bank, which has five California branch banking offices in
Goleta, Santa Barbara, Santa Maria, Ventura and Westlake Village.

The Company's balance sheet at Sept. 30, 2013, showed $535.48
million in total assets, $470.83 million in total liabilities and
$64.64 million in total stockholders' equity.

                             *   *    *

This concludes the Troubled Company Reporter's coverage of
Community West Bancshares until facts and circumstances, if any,
emerge that demonstrate financial or operational strain or
difficulty at a level sufficient to warrant renewed coverage.


COMPETITIVE TECHNOLOGIES: J. Finley Stake at 5.6% as of Dec. 31
---------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Joseph M. Finley disclosed that as of
Dec. 31, 2013, he beneficially owned 1,082,613 shares of common
stock of Competitive Technologies, Inc., representing 5.65 percent
of the shares outstanding.  Mr. Finley previously held 955,988
common shares or 6.27 percent equity stake as of Dec. 31, 2012.  A
copy of the regulatory filing is available for free at:

                          http://is.gd/AaDzKt

                    About Competitive Technologies

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

Competitive Technologies incurred a net loss of $3 million on
$546,139 of gross profit from product sales in 2012, as compared
with a net loss of $3.59 million on $1.86 million of gross profit
from product sales in 2011.  The Company's balance sheet at
Sept. 30, 2013, showed $4.70 million in total assets, $10.42
million in total liabilities, and a $5.71 million total
shareholders' deficit.

Mayer Hoffman McCann CPAs (The New York Practice of Mayer Hoffman
McCann P.C.), in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2012.  The independent auditors noted that at Dec. 31,
2012, the Company has incurred operating losses since fiscal year
2006.


CUI GLOBAL: GROW Partners Stake at 6.8% as of Dec. 31
-----------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, GROW Partners, LLC, Carl M. Wiese, and GROW Small Cap
Equity Long/Short, LP, disclosed that as of Dec. 31, 2013, they
beneficially owned 1,389,300 shares of common stock of CUI Global,
Inc., representing 6.8 percent of the shares outstanding.  A copy
of the regulatory filing is available for free at:

                        http://is.gd/44Arp6

                          About CUI Global

Tualatin, Ore.-based CUI Global, Inc., formerly known as Waytronx,
Inc., is a platform company dedicated to maximizing shareholder
value through the acquisition, development and commercialization
of new, innovative technologies.

CUI Global incurred a net loss allocable to common stockholders of
$2.52 million in 2012, a net loss allocable to common stockholders
of $48,763 in 2011 and a net loss allocable to common stockholders
of $7.01 million in 2010.

The Company's balance sheet at Sept. 30, 2013, showed $92.05
million in total assets, $20.48 million in total liabilities and
$71.56 million in total stockholders' equity.


CYCLONE POWER: Authorized Common Shares Hiked to 900 Million
------------------------------------------------------------
Cyclone Power Technologies, Inc., filed an amendment to its
Articles of Incorporation with the Florida Secretary of State to
increase its authorized common stock to 900 million shares.  The
filing occurred 20 days after mailing a definitive Information
Statement on Form 14C to the Company's shareholders.

The Amendment had been adopted on Dec. 19, 2013, by unanimous vote
of the Company's Series B Preferred Shareholders, who collectively
have the right to cast 51 percent of the votes necessary for
adoption of matters brought before the common shareholders of the
Company.

                         About Cyclone Power

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

Cyclone Power disclosed a net loss of $3 million on $1.13 million
of revenue for the year ended Dec. 31, 2012, as compared with a
net loss of $23.70 million on $250,000 of revenue in 2011.  The
Company's balance sheet at Sept. 30, 2013, showed $1.39
million in total assets, $4.61 million in total liabilities and a
$3.21 million total stockholders' deficit.

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


DETROIT, MI: Cancels Swaps Forbearance Deal With BofA, UBS
----------------------------------------------------------
Steven Church, writing for Bloomberg News, reported that Detroit
won't take legal action for now against Bank of America Corp. and
UBS AG over a costly swaps deal, even after canceling a
forbearance agreement it reached with the banks in July.

According to the report, while they continue trying to negotiate
an end to the swaps, which cost taxpayers about $4 million a
month, the city and the banks will refrain from taking court
action against each other, according to Bill Nowling, a spokesman
for Detroit's emergency financial manager, Kevyn Orr.

"We basically have a gentleman's agreement," Nowling said in an
interview after the city told U.S. Bankruptcy Judge Steven Rhodes
it canceled the forbearance deal on Jan. 31, the report related.

The forbearance agreement, reached days before Detroit filed for
municipal bankruptcy, was a kind of truce, the report said.
Detroit agreed not to sue to cancel the swaps and the banks agreed
not to declare the city in default of the contracts, which would
have allowed them to try to seize casino tax revenue.

The city and the banks have been trying to reach a settlement that
Judge Rhodes will accept, the report further related.  Last month,
the judge rejected a proposal to buy out the swaps for $165
million, saying it was too costly.

                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.

The Hon. Steven Rhodes oversees the bankruptcy case.  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.  Lazard Freres & Co. LLC serves as the Retiree Committee's
financial advisor.

Daniel M. McDermott, U.S. Trustee for Region 9, on Dec. 23, 2013,
appointed five creditors to serve on the Official Committee of
Unsecured Creditors.


DETROIT, MI: Bankruptcy Case Drew Interest in 2013
--------------------------------------------------
Patrick Holohan, writing for The Deal, reported that Detroit's
municipal bankruptcy filing under Chapter 9 of the U.S. Bankruptcy
Code drew the focus of many bankruptcy professionals in 2013.

"In a relatively sedate year for corporate bankruptcy -- outside
of an airline merger that an unexpected legal storm threatened to
ground -- it was a municipal case that drew the focus of many
bankruptcy professionals," The Deal said.

The Deal noted that the possibility of the pension liabilities
being impaired prompted litigation even before the petition and
was at the core of one of the major challenges to Detroit's
ability to file for Chapter 9, the report related.  Judge Steven
Rhodes of the U.S. Bankruptcy Court for the Eastern District of
Michigan in Detroit on Dec. 3 ultimately allowed the case to
proceed after weeks of testimony.   And yet, for all the hue and
cry over pensions and whether the Motor City was eligible to
proceed through bankruptcy, professionals say the standards of
Chapter 9 never really put the decision in doubt, the report
further related.

"I don't think there was any chance that Detroit wasn't going to
be allowed to continue in bankruptcy," said W. Patton Hahn, a
bankruptcy attorney at Baker, Donelson, Bearman, Caldwell &
Berkowitz PC and lead counsel to the receiver on the Jefferson
County case, the report cited.

                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.

The Hon. Steven Rhodes oversees the bankruptcy case.  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.  Lazard Freres & Co. LLC serves as the Retiree Committee's
financial advisor.

Daniel M. McDermott, U.S. Trustee for Region 9, on Dec. 23, 2013,
appointed five creditors to serve on the Official Committee of
Unsecured Creditors.


DOGWOOD PROPERTIES: Has OK to Use Magna Bank's Cash Collateral
--------------------------------------------------------------
U.S. Bankruptcy Judge Jennie D. Latta has signed off on a final
agreed order authorizing Dogwood Properties, G.P., to use cash
collateral of Magna Bank.

As adequate protection, the Debtor will make adequate protection
payments to the bank of $2,601.70 per month beginning Jan. 10,
2014, pending further Court orders.  In the event a Plan is
confirmed, this date will be deemed to be the Effective Date of
the Plan insofar as the Plan treatment afforded to Magna Bank.

                        About Dogwood

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

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


DOGWOOD PROPERTIES: Can Use Commercial Bank's Cash Collateral
-------------------------------------------------------------
Judge Jennie D. Latta has authorized Dogwood Properties, G.P., to
use cash collateral of Commercial Bank & Trust.

As adequate protection, the Debtor will make adequate protection
payments to the bank of $6,639.15 per month and a monthly payment
for escrow for payment of taxes and insurance in the amount of
$1,308.53 beginning Jan. 10, 2014.  In the event a Plan is
confirmed, this date will be deemed to be the Effective Date of
the Plan insofar as the Plan treatment afforded to Commercial
Bank.

                        About Dogwood

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

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


DRIVEIT FINANCIAL: Case Summary & Largest Unsecured Creditor
------------------------------------------------------------
Debtor: DRIVEiT Financial Services, LLC
           fka MCA Finance LLC
        2475 North Tustin Street
        Orange, CA 92865

Case No.: 14-10871

Chapter 11 Petition Date: February 12, 2014

Court: United States Bankruptcy Court
       Central District of California (Santa Ana)

Judge: Hon. Scott C Clarkson

Debtor's Counsel: Gregory K Jones, Esq.
                  STUTMAN TREISTER & GLATT
                  1901 Ave of the Stars
                  Los Angeles, CA 90067
                  Tel: 310-228-5600
                  Fax: 310-228-5788
                  Email: gjones@stutman.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Preston Smart, manager.

The Debtor listed DRIVEiT Consumer Credit, located at 2475 N.
Tustin Street, Orange, CA, as its largest unsecured creditor
holding a claim of $1.5 million.


DYCOM INDUSTRIES: Lower Revenues No Impact on Moody's Ba2 CFR
-------------------------------------------------------------
Moody's Investors Service said that Dycom Industries, Inc.'s
recent announcement that it lowered its revenue and results
expectations as well as third quarter outlook as a credit negative
event. However, Dycom's ratings including its Ba2 Corporate Family
Rating ("CFR"), SGL-1 Speculative Grade Liquidity Rating and
stable outlook are unaffected.

Dycom Industries, Inc., located in Palm Beach Gardens, Florida, is
a leading provider of specialty contracting services in North
America. Dycom provides engineering, construction and maintenance
services that assist telecommunication and cable television
providers expand and monitor their network infrastructure in a
cost effective manner. The company also provides underground
locating services for telephone, cable, power, gas, water, and
sewer utilities. Dycom generated contract revenues approximating
$1.8 billion for the twelve months ended January 25, 2014.


DYNASIL CORP: Has Yet to Obtain Waivers for Covenant Violations
---------------------------------------------------------------
Dynasil Corporation of America, a developer and manufacturer of
optical detection and analysis technology and components for the
homeland security, medical and industrial markets, on Feb. 12
reported financial results for the fiscal 2014 first quarter ended
December 31, 2013.

Dynasil reported net income for the quarter of $1,458,000 or $0.10
per share, compared with a net loss of ($379,000), or ($0.03) per
share, for the quarter ended December 31, 2012.  Net income for
the quarter includes a gain of $1,187,000 associated with the sale
of the Company's lead paint and medical products businesses.

"I am very happy to report that this quarter's results mark a
return to profitability, a substantial reduction in our senior
debt and compliance with our bank covenant ratios and the Nasdaq
listing requirements," said Dynasil Chairman and Interim CEO Peter
Sulick.  "In addition, we successfully completed the sale of our
LPX and Navigator product lines and the contribution of our tissue
sealant technology to Xcede Technologies, Inc., a joint venture
with Mayo Clinic.  We expect Xcede to independently raise future
funding for the continuing development of this promising
technology."

Net revenue for the first quarter of fiscal 2014 increased
slightly to $10.7 million, compared with $10.6 million for the
first quarter of fiscal 2013.  Revenue increased approximately
$900,000 or 19% in the Contract Research segment in the quarter
while the Instruments segment declined approximately $500,000 or
40% primarily as a result of the sale of the lead paint and
medical products businesses.  Gross profit for the first quarter
of 2014 declined slightly to $4.5 million from $4.6 million for
the same period in 2013.  Gross margins decreased to 41.5% in the
quarter compared to 43.8% for the first quarter of fiscal 2013.

Operating expenses for the three months ended December 31, 2013
were $4.0 million, a decrease of $883,000 compared to the same
period in 2013.  The decrease was primarily a result of reduced
product development costs associated with the lead paint and
medical products businesses which were sold during the quarter
ended December 31, 2013.

The Company is in compliance with the debt covenants ratios
included in its senior loan agreement for the three months ended
December 31, 2013, but has not yet paid interest due to its
subordinated lender or obtained waivers from both its lenders for
its covenant violations for prior periods, and thus remains in
default with both of its lenders.  The Company has made all
principal and interest payments due to its senior lender through
February 12, 2014, the date of this earnings release, and has
accrued but has not paid approximately $400,000 due to its
subordinated lender since February, 2013.   Management has
initiated discussions with its lenders in order to address the
default situation.  However, the Company cannot predict when or
whether a resolution of this situation will be achieved.

                  Quarterly Business Highlights

The Company successfully completed three transactions within the
first quarter of fiscal 2014 that were important steps in
significantly reducing its debt with Santander Bank and returning
the Company to profitability.  On October 1, 2013, Dynasil
Biomedical formed Xcede, a joint venture with the Mayo Clinic, to
spin out and separately fund the development of its tissue sealant
technology.  Xcede has initiated financing efforts and has
received funding from outside investors including certain
directors of the Company.  On November 7, 2013, the Company sold
its lead paint detector business to Protec Instrument Corporation,
which is a wholly owned subsidiary of Laboratoires Protec S.A., a
French corporation and former European distributor of the lead
paint detector products; and on December 23, 2013, Dynasil sold
its Gamma Medical Probe business to Dilon Technologies, Inc.
Approximately $3.9 million of the proceeds from the sales were
used to reduce the Company's bank debt.

"Now that we have been successful in reducing our debt and
returning to profitability, the Company can continue to pursue
various commercialization opportunities arising from technologies
developed within our Contract Research segment," stated Mr.
Sulick.  "We are continuing our efforts to further improve the
size and quality of our CLYC crystals and have other exciting new
technologies in development."

The Company has no conference calls scheduled at this time.

                        About Dynasil

Dynasil Corporation of America -- http://www.dynasil.com--
develops and manufactures optical detection and analysis
technology and components for the homeland security, medical and
industrial markets.   Combining world-class expertise in research
and materials science with extensive experience in manufacturing
and product development, Dynasil is commercializing products
including dual-mode radiation detection solutions for Homeland
Security and commercial applications and sensors for non-
destructive testing.  Dynasil has an impressive and growing
portfolio of issued and pending U.S. patents.  The Company is
based in Watertown, Massachusetts, with additional operations in
Mass., Minn., NY, NJ and the United Kingdom.


ECO BUILDING: Authorized to Issue 30,000 Series A Pref. Stock
-------------------------------------------------------------
The board of directors of Eco Building Products, Inc., determined
that it was in the best interests of the Company to file a
Certificate of Designation that authorized the issuance of up to
30,000 shares of a new series of preferred stock, par value $0.001
per share designated "Series A Preferred Stock," for which the
board of directors established the rights, preferences and
limitations thereof.

The board of directors authorized the Series A Preferred Stock
pursuant to the authority given to the board of directors under
the Articles of Incorporation, which authorizes the issuance of up
to 500,000,000 shares of preferred stock, par value $0.001 per
share, and authorizes the board of directors, by resolution, to
establish any or all of the unissued shares of preferred stock,
not then allocated to any series into one or more series and to
fix and determine the designation of each such shares, the number
of shares which will constitute those series and certain
preferences, limitations and relative rights of the shares of each
series so established.

The Certificate of Designation was filed as an amendment to the
Company's Articles of Incorporation with the State of Colorado on
Jan. 27, 2014.

Each holder of outstanding shares of Series A Preferred Stock will
be entitled to 100,000 votes for each share of Series A Preferred
Stock held on the record date for the determination of
stockholders entitled to vote at each meeting of stockholders of
the Company.

A copy of the Articles of Amendment is available for free at:

                        http://is.gd/WJEj4v

                         About Eco Building

Vista, Calif.-based Eco Building Products is a manufacturer of
proprietary wood products treated with an eco-friendly proprietary
chemistry that protects against mold, rot, decay, termites and
fire.

Eco Building incurred a net loss of $24.59 million on $5.22
million of total revenue for the year ended June 30, 2013, as
compared with a net loss of $11.17 million on $3.72 million of
total revenue during the prior year.

The Company's balance sheet at Sept. 30, 2013, showed $2.12
million in total assets, $18.65 million in total liabilities and a
$16.52 million total stockholders' deficit.

Sam Kan & Company, in Alameda, California, 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 generated minimal operating revenues, losses
from operations, significant cash used in operating activities and
its viability is dependent upon its ability to obtain future
financing and successful operations.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern.


ENDEAVOUR INTERNATIONAL: Obtains $125-Mil. of Term Loan Facility
----------------------------------------------------------------
Endeavour International Corporation, Endeavour International
Holdings B.V., a wholly-owned subsidiary of the Company, and End
Finco LLC, a wholly-owned subsidiary of EIH, entered into a credit
agreement with Credit Suisse AG, as administrative agent and as
collateral agent, and certain lenders, providing for a senior
secured term loan facility.

Pursuant to the Term Loan Facility, the Lenders advanced
approximately $125 million in aggregate principal amount of term
loans to the Term A Borrowers.  The proceeds were used to repay
the balance outstanding under the Company's 2012 Credit
Agreements.  The Term Loan Facility bears interest quarterly at a
rate of LIBOR plus 7.00 percent per year (provided that LIBOR will
equal at least 1.25 percent per year) and mature on the earlier of
(a) Nov. 30, 2017, and (b) the date 91 days prior to the maturity
of the Company's 5.5 percent convertible senior notes due 2016 and
11.5 percent convertible notes due 2016, if those notes have not
been converted, cancelled or extinguished prior to such date or
extended or refinanced in full prior to that date, with a
resulting maturity date not earlier than March 1, 2018.

LC Procurement Agreement

Also, on Jan. 24, 2014, the Company and its wholly-owned
subsidiary, Endeavour Energy UK Limited, entered into a LC
Procurement Agreement with LC Finco S.a r.l., (the "Payee") an
unaffiliated third party, pursuant to which Endeavour UK has
agreed to reimburse the Payee for any expense incurred by it in
connection with the posting of cash collateral to secure letters
of credit issued by the Credit Suisse for Endeavour UK's account
in the amount of approximately EUR78 (approximately $130 million
as of Jan. 24, 2014).  The letters of credit secure
decommissioning obligations in connection with certain of
Endeavour UK's United Kingdom Continental Shelf Petroleum
Production Licences and have been outstanding and unchanged since
2006.  The LC Procurement Agreement was entered into to replace
the Reimbursement Agreement and 2013 LOC Procurement Agreement.

Under the LC Procurement Agreement Endeavour UK has agreed to pay
a quarterly fee computed at a rate of LIBOR plus 7.00 percent per
year (provided that LIBOR will equal at least 1.25 percent per
year) on aggregate balance of posted cash collateral.

Similar to the Term Loan Facility, posted cash collateral under
the LC Procurement Agreement was issued with an original issue
discount of 98.5 percent and matures on the earlier of (a)
Nov. 30, 2017, and (b) the date 91 days prior to the maturity of
the Company's 5.5 percent convertible senior notes due 2016 and
11.5 percent convertible notes due 2016, if those notes have not
been converted, cancelled or extinguished prior to such date or
extended or refinanced in full prior to that date, with a
resulting maturity date not earlier than March 1, 2018.  The LC
Procurement Agreement contains customary representations,
warranties and non-financial covenants.  The Company and each of
its current and future restricted subsidiaries have
unconditionally guaranteed Endeavour UK's obligations under the LC
Procurement Agreement.

Proceeds of the Term A Credit Agreement were used to repay all
amounts outstanding under the Company's previous credit agreement,
dated as of April 12, 2012, as amended, among the Company,
Endeavour UK, Cyan Partners, LP, as administrative agent, and the
other lenders party thereto.  This repayment included a prepayment
fee and accrued interest of approximately $2 million.  Following
the repayment by Endeavour UK, the 2012 Credit Agreement was
terminated and all of the liens on the collateral securing
Endeavour UK's obligations thereunder were released.

In connection with the entry into the LC Procurement Agreement, on
Jan. 24, 2014, the Company and Endeavour UK terminated their
previous reimbursement agreement, dated May 31, 2012, as amended,
with New Pearl S.a.r.l. securing letters of credit issued by BNP
Paribas for Endeavour UK's account in the amount of approximately
EUR77 million (approximately $127 million as of Jan. 24, 2014).

In addition, in connection with the entry into the LC Procurement
Agreement, on Jan. 24, 2014, the Company terminated its previous
LOC procurement agreement, dated Jan. 9, 2013, with Max
Participations II S.a.r.l. securing letters of credit issued by
Deutsche Bank AG for Endeavour UK's account in the amount of
approximately EUR20.6 million (approximately $34 million as of
Jan. 24, 2014).

A copy of the Form 8-K, as filed with the U.S. Securities and
Exchange Commission, is available for free at:

                        http://is.gd/KiX17b

                    About Endeavour International

Houston-based Endeavour International Corporation (NYSE: END)
(LSE: ENDV) is an oil and gas exploration and production company
focused on the acquisition, exploration and development of energy
reserves in the North Sea and the United States.

For the year ended Dec. 31, 2012, the Company incurred a net loss
of $126.22 million as compared with a net loss of $130.99 million
during the prior year.  The Company's balance sheet at Sept. 30,
2013, showed $1.50 billion in total assets, $1.41 billion in total
liabilities, $43.70 million in series C convertible preferred
stock, and $46.24 million in total stockholders' equity.

                           *     *     *

As reported by the TCR on March 5, 2013, Moody's Investors Service
downgraded Endeavour International Corporation's Corporate Family
Rating to Caa3 from Caa1.  Endeavour's Caa3 CFR reflects its weak
liquidity, small production and proved reserve scale, geographic
concentration and the uncertainties regarding its future
performance given the inherent execution risks related to its
offshore North Sea operations for a company of its size.

In the Feb. 22, 2013, edition of the TCR, Standard & Poor's
Ratings Services lowered its corporate credit rating on Houston,
Texas-based Endeavour International Corp. (Endeavour) to 'CCC+'
from 'B-'.  The rating action reflects S&P's expectation that
Endeavour could have insufficient liquidity to meet its needs due
to the delay in production from its Rochelle development.


ENERGYSOLUTIONS INC: Suspending Filing of Reports with SEC
----------------------------------------------------------
EnergySolutions, Inc., filed a Form 15 with the U.S. Securities
and Exchange Commission to suspend its duty to file reports under
Sections 13 and 15(d) of the Securities Exchange Act of 1934.

On May 24, 2013, Rockwell Acquisition Corp. merged with and into
EnergySolutions with EnergySolutions surviving as a wholly-owned
subsidiary of Rockwell Holdco, Inc.  As a result of the merger,
EnergySolutions became a wholly-owned subsidiary of Rockwell
Holdco, Inc.

                       About EnergySolutions

Salt Lake City, Utah-based EnergySolutions offers customers a full
range of integrated services and solutions, including nuclear
operations, characterization, decommissioning, decontamination,
site closure, transportation, nuclear materials management, the
safe, secure disposition of nuclear waste, and research and
engineering services across the fuel cycle.

EnergySolutions reported net income of $3.92 million in 2012 as
compared with a net loss of $193.64 million in 2011.  The
Company's balance sheet at Sept. 30, 2013, showed $2.34
billion in total assets, $2.10 billion in total liabilities and
$239.11 million in total equity.

                         Bankruptcy Warning

"Our senior secured credit facility contains financial covenants
requiring us to maintain specified maximum leverage and minimum
cash interest coverage ratios.  The results of our future
operations may not allow us to meet these covenants, or may
require that we take action to reduce our debt or to act in a
manner contrary to our business objectives.

"Our failure to comply with obligations under our senior secured
credit facility, including satisfaction of the financial ratios,
would result in an event of default under the facilities.  A
default, if not cured or waived, would prohibit us from obtaining
further loans under our senior secured credit facility and permit
the lenders thereunder to accelerate payment of their loans and
not renew the letters of credit which support our bonding
obligations.  If we are not current in our bonding obligations, we
may be in breach of our contracts with our customers, which
generally require bonding.  In addition, we would be unable to bid
or be awarded new contracts that required bonding.  If our debt is
accelerated, we currently would not have funds available to pay
the accelerated debt and may not have the ability to refinance the
accelerated debt on terms favorable to us or at all particularly
in light of the tightening of lending standards as a result of the
ongoing financial crisis.  If we could not repay or refinance the
accelerated debt, we would be insolvent and could seek to file for
bankruptcy protection.  Any such default, acceleration or
insolvency would likely have a material adverse effect on the
market value of our common stock," the Company said in its annual
report for the year ended Dec. 31, 2012.

                           *     *     *

In October 2013, Standard & Poor's Ratings Services affirmed its
'B' corporate credit rating on EnergySolutions and revised its
outlook to stable from positive.  "The outlook revision reflects
our view that the company is likely to maintain higher debt levels
than our previous expectation of $675 million," S&P said.


ENERGY SERVICES: Obtains New $10.4MM Loan, Forbearance Canceled
---------------------------------------------------------------
Energy Services of America, parent company of C.J. Hughes
Construction Company and Nitro Electric Company, closed on a new
$8.8 million financing agreement with with United Bank, Inc.,
(West Virginia) and Summit Community Bank (West Virginia) on
Jan. 31, 2014.  In addition, the Company entered into a separate
loan arrangement with First Guaranty Bank (Louisiana) for $1.6
million.  Taken together, the $10.4 million in new financings
supercede the prior financing arrangements the Company had with
United Bank as well as the other lenders.  As a result of entering
into the new financings, United Bank and the other lenders of the
Company have agreed to terminate their Forbearance Agreement with
the Company.

Douglas V. Reynolds, president discussed the new agreement.  "We
are very appreciative of the confidence shown by United Bank WV,
Summit Community Bank, and First Guaranty Bank as we put the final
touches on our restructuring efforts."   Mr. Reynolds continued,
"This agreement represents many months of hard work by a dedicated
group of individuals including our board of directors, employees,
and lenders.  We look forward to this new partnership and focusing
on our core business and sustaining profitability as we continue
to serve our customers and community."

A copy of the Loan Agreement with United Bank is available for
free at http://is.gd/U91TSI

A copy of the Participation Agreement with Summit Community is
available for free at http://is.gd/MQkJQk

                        About Energy Services

Huntington, West Virginia-based Energy Services of America
Corporation provides contracting services to America's energy
providers, primarily the gas and electricity providers.

Energy Services disclosed net income of $3.57 million on $108.82
million of revenue for the year ended Sept. 30, 2013, as compared
with a net loss of $48.52 million on $109.01 million of revenue
during the prior year.

As of Sept. 30, 2013, the Company had $50.69 million in total
assets, $35.75 million in total liabilities and $14.94 million in
total stockholders' equity.

Arnett Foster Toothman PLLC, in Charleston, West Virginia, issued
a "going concern" qualification on the consolidated financial
statements for the year ended Sept. 30, 2013.  The independent
auditors noted that the Company has suffered recurring losses from
operations.  This raises substantial doubt about the Company's
ability to continue as a going concern.


EPL OIL: Moody's Ups CFR to B2 & Sr. Unsecured Notes Rating to B3
-----------------------------------------------------------------
Moody's Investors Service upgraded EPL Oil & Gas, Inc.'s (EPL)
Corporate Family Rating (CFR) to B2 from B3 and its senior
unsecured note rating to B3 from Caa1. Moody's affirmed EPL's SGL-
2 Speculative Grade Liquidity Rating (SGL). The rating outlook has
been revised to stable from positive.

"Solid operational execution and drilling success since the
transformational acquisition in late 2012 have added visibility
and longevity to EPL's production platform," said Sajjad Alam,
Moody's Analyst. "Benefitting from higher production volumes
relative to 2013 levels, EPL should be able to fully fund its
drilling program and plugging and abandonment (P&A) expenditures
with internally generated cash flow and maintain good liquidity in
2014."

Issuer: EPL Oil & Gas, Inc.

Upgrades:

  Corporate Family Rating, Upgraded to B2 from B3

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

  Senior Unsecured Rating, Upgraded to B3 (LGD5,75%) from Caa1
  (LGD5, 72%)

Affirmations:

  Speculative Grade Liquidity Rating, Affirmed SGL-2

Outlook Actions:

  Changed to Stable From Positive

Ratings Rationale

The B2 CFR reflects EPL's limited scale exploration and production
(E&P) operations, single basin concentration in the Gulf of Mexico
(GoM) shelf, high P&A obligations and the associated cash
expenditures, and the inherent risks and higher costs of offshore
operations. The B2 CFR is positively impacted by the company's
oily production profile (expected to be 80% in 2014) and the
contributing high cash margins, low risk drilling and behind-pipe
recompletion opportunities that can support several years of
development activity, improving leverage in terms production, and
relatively high working interest in properties that permit
flexible capital allocation. The rating also considers the
hurricane threat to production and infrastructure, as well as the
flush production and steep decline curve of the highly permeable
GoM sandstone reservoirs that necessitates periodic acquisitions.

The $510 million 8.25% senior unsecured notes are rated B3, one
notch below the B2 CFR given the substantial size of the secured
revolving credit facility in the capital structure. The $475
million revolving credit facility has a first-lien claim on
substantially all of EPL's assets and has full and unconditional
guarantee from all of EPL's direct and indirect domestic
subsidiaries. If the relative proportion of secured debt increases
significantly relative to the unsecured notes from current levels,
the notes could get downgraded to Caa1 and have a two notch
differential with the CFR.

EPL should have good liquidity through the end of 2014, which is
reflected in the SGL-2 rating. Moody's expect free cash flow in
2014 based on an estimated capital budget of $360 million, cash
interest of $55 million and P&A expenditures of roughly $50
million. EPL will likely apply any excess cash flow towards
additional organic growth opportunities, acquisitions or revolving
debt reduction. EPL has a $475 million borrowing base credit
facility which expires in October 2016. Pro forma for the recent
$70 million Eugene Island acquisition, $280 million was available
as of September 30, 2013. With roughly 67% of EPL's 2014 estimated
oil production hedged, there's good downside protection to near-
term cash flows. EPL can quickly dial back capital spending in a
depressed commodity price environment, thanks to the high working
interest. The company does not have any near-term debt maturities
and should have ample headroom under the credit agreement
financial covenants during 2014.

Given EPL's high business risks, Moody's are unlikely to upgrade
the CFR to B1 absent a material increase in production and proved
reserves and more diversified basin exposure. However, an upgrade
could be considered if EPL can sustain daily production in excess
of 45,000 per boe while lowering its debt to PD reserves ratio
under $10 per boe.

The rating could be downgraded if debt to average daily production
cannot be sustained below $35,000 per boe or aggressive financial
policies leads to significant negative free cash flow or weak
liquidity.

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

EPL Oil & Gas, Inc. is a Houston, Texas based independent E&P
company with primary operations on state and federal waters
offshore Louisiana in the U.S. Gulf of Mexico.


ERF WIRELESS: Willow Creek Stake at 9.99% as of Jan. 29
-------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Willow Creek Capital Group, LLC, and Brian
Innes disclosed that as of Jan. 29, 2014, they beneficially owned
8,537 shares of $0.001 par value common stock of ERF Wireless,
Inc., representing 9.99 percent of the 12,684,596 that were issued
and outstanding on that date (as reported on the Issuer's Form 8-K
filed on Dec. 18, 2013).  A copy of the regulatory filing is
available for free at http://is.gd/Nl0eID

                         About ERF Wireless

Based in League City, Texas, ERF Wireless, Inc., provides secure,
high-capacity wireless products and services to a broad spectrum
of customers in primarily underserved, rural and suburban parts of
the United States.

ERF Wireless incurred a net loss attributable to the Company of
$4.81 million 2012 following a net loss attributable to the
Company of $3.37 million in 2011.  As of Sept. 30, 2013, ERF
Wireless had $5.31 million in total assets, $10.43 million in
total liabilities and a $5.12 million total shareholders' deficit.


ERIE COUNTY IDA: Fitch Maintains 'B' Rating on 2011 Revenue Bonds
-----------------------------------------------------------------
Fitch Ratings maintains the 'B' rating and revises the Rating
Watch Negative to Positive Watch on approximately $7.3 million of
series 2011 revenue bonds issued by the Erie County Industrial
Development Agency on behalf of Enterprise Charter School (ECS)
located in Buffalo, NY.
SECURITY

The bonds are secured by a pledge of revenues of ECS, a first
mortgage lien on the facilities of ECS, assignments of rents and
leases receivable and a cash funded debt service reserve fund.

Key Rating Drivers

RATING WATCH POSITIVE: ECS' charter authorizer, Buffalo Public
Schools (BPS) has recommended a charter renewal for ECS for 2014,
although there is no guarantee of a specific term or final
ratification by the State Education Department (SED).  However,
Fitch notes that the authorizer worked within SED guidelines and
coordinated with the department to articulate the expectations of
the school.  The Rating Watch Positive reflects anticipation of a
formal approval from the state.

CHARTER UNCERTAINTY CONSTRAINS RATING: The 'B' rating reflects the
academic performance driven charter term reduction in 2013 and the
continued stress of operating under a severely abbreviated charter
term. Favorable resolution of the charter renewal in the coming
months could positively influence the rating.

FUTURE HINGES ON ACADEMICS: New York State charter renewal
standards weigh heavily on academic performance and ECS will be
required to produce discernible, annual improvement in student
test scores to stabilize its performance and ensure charter
compliance.

FINANCIAL METRICS SUPPORT SCHOOL: ECS' full and stable enrollment,
robust waitlists, consistently positive operating margins and
relatively strong liquidity levels compare favorably to investment
grade peers and remain key credit strengths.

MANAGEABLE DEBT BURDEN: Maximum annual debt service (MADS)
comprises a relatively high 10.3% of fiscal 2013 operating
revenues but is covered 2.3x by net income available for DS.  ECS'
long term debt constitutes 5x fiscal 2013 net income available for
DS comparing relatively well to investment grade peers.

RATING SENSITIVITIES

RATING WATCH CONSIDERATIONS: A confirmation of a renewal term of
no less than three years could stabilize the rating.

CHARTER SCHOOL SECTOR RISKS: A limited financial cushion;
substantial reliance on enrollment-driven, per pupil funding; and
charter renewal risk are credit concerns common among all charter
school transactions that, if pressured, could negatively impact
the rating over time.

CREDIT PROFILE:

CHARTER RENEWAL EXPECTATIONS IMPROVE

Fitch's previous rating downgrade to 'B' reflected ECS operation
under a one year charter as of June 2013 and the uncertainty
associated with a likelihood of a non-renewal in June 2014.
During the November 2013 review of ECS Fitch was unable to receive
confirmation from the charter authorizer as to their expected
recommendation for renewal.  During that time BPS was in the last
stages of an extended and detailed review that included seven
school visits and observations between the period of June and
December 2013.

Subsequent to the last review, BPS submitted a renewal
recommendation for the charter.  While the recommendation is not
yet ratified by the SED and the term is unspecified, it is
probable that a three year term is likely, due to ECS' previous
status as needing academic improvement (obviating a full five year
renewal) and the understanding that less than a three year renewal
is too abbreviated a time frame to discern development in a
school's overall academic achievement.

RATING WATCH POSITIVE

In the March 2013 rating action, Fitch downgraded ECS to 'BBB-',
noting the possibility of the charter renewal term to be three
years based on BPS anticipated recommendation and need for
academic improvement.  Subsequently, ECS was downgraded further to
'BB' reflecting the receipt of a one year charter despite initial
indications of a longer term.  This dissonance between the
authorizer and the SED seems to have been resolved.  In November
2013, ECS was further downgraded to 'B' reflecting the one year
charter term and lack of information relating to a subsequent
renewal which increased the likelihood of an impending closure in
June of 2014.  According to BPS, the current charter renewal
process incorporated all of SED guidelines and close coordination
with the office to ensure that BPS recommendation and the final
approval of the SED would concur.  Fitch expects confirmation of
the charter renewal later this spring.

ENROLLMENT AND FINANCIAL PERFORMANCE STABLE

ECS' fall enrollment is at capacity with approximately 405
students for its K-8 classes. Fiscal 2013 results indicate a
positive operating margin of 9.3% and growth in liquidity of about
$850,000.  Available funds for ECS total $3.86 million, comprising
71.5% of operating expenditures and 53.6% of long term debt.  Pro
forma MADS of $616k is covered 2.3x with net income available for
DS with the MADS burden remaining high but manageable at 10.3% of
unrestricted operating revenue.  These ratios rank among the
strongest among Fitch's charter school ratings.


EURAMAX HOLDINGS: Signs Employment Agreement with CFO
-----------------------------------------------------
Mary Cullin and Euramax International, Inc., entered into a
written employment agreement on Feb. 3, 2014, in connection with
her role as senior vice president, chief financial officer, and
treasurer.

Ms. Cullin's base salary under the employment agreement is
$240,000 per year, subject to increase, but not decrease, at the
discretion of the Board of Directors of the Company.  Ms. Cullin
is eligible for an annual cash bonus of up to 35 percent of her
then-current base salary, subject to achievement of performance
criteria to be set forth in an annual incentive plan adopted by
the Board of Directors or Compensation Committee of the Board of
Directors.

Ms. Cullin is eligible to participate in the Company's employee
benefit plans as in effect from time to time on the same basis as
generally made available to other senior executives of the
Company.

In the event that Ms. Cullin's employment is terminated by the
Company without "cause" or by Ms. Cullin for "good reason," Ms.
Cullin will be entitled to (i) receive continuation of her base
salary at the rate in effect immediately prior to the termination
date for 12 months following the termination date and (ii) to the
extent permitted pursuant to the applicable plans, continuation on
the same terms as an active employee of medical insurance benefits
that she would otherwise be eligible to receive as an active
employee of the Company for 12 months following the termination
date.

A copy of the Employment Agreement is available for free at:

                         http://is.gd/08sRoY

                       About Euramax Holdings

Euramax Holdings Inc. is an international producer of metal and
vinyl products sold to the residential repair and remodel, non-
residential construction and recreational vehicle markets
primarily in North America and Europe.  It considers itself a
leader in several niche product categories, including preformed
roof-drainage products sold in the U.S., metal roofing and siding
for wood frame construction in the U.S., and aluminum siding for
towable RVs in the U.S. and Europe.

Euramax Holdings' balance sheet at Dec. 31, 2012, showed $594.42
million in total assets, $680.41 million in total liabilities and
a $85.99 million total shareholders' deficit.

                           *     *     *

As of June 30, 2010, Euramax carries "Caa1" long-term debt ratings
from Moody's and "B-" long-term debt ratings from Standard &
Poor's.


FIELD FAMILY: Second Amended Reorganization Plan Confirmed
----------------------------------------------------------
Judge Stephen Raslavich has confirmed Field Family Associates,
LLC's Second Amended Plan of Reorganization dated Dec. 10, 2013.
Judge Raslavich also rules that the Debtor need not re-solicit
votes for the Second Amended Plan.  In addition, the votes cast
with respect to the First Amended Plan are deemed votes cast with
respect to the Second Amended Plan.

The Plan dated Dec. 10 amends the treatment of Class 5-General
Unsecured Creditors.  Pursuant to the amendment, in the event the
Debtor elects to proceed under the Sale Option, the Allowed Class
5 Claims will be paid in full in cash on the Effective Date.

A copy of the Second Amended Plan is available for free at:

     http://bankrupt.com/misc/FIELDFAMILYplan2.pdf

The Court confirmed the Debtor's First Amended Plan on Oct. 2,
2013.  As reported by the Troubled Company Reporter on Nov. 27,
2013, the Plan contemplates paying all creditors in full over
time.  The Plan is to be funded from cash on hand, cash from
future operations, and a $2 million loan from The Field Family
Trust, an affiliate of the Debtor.  Existing owners will retain
control of the company.

General unsecured claimants will receive amortized quarterly
payments equal to their allowed claim over a four-year period with
interest at the rate of 1% per annum, with the first payment to be
made on the Effective Date and on the first business day of each
quarter thereafter with the final payment to be made on the fourth
anniversary of the Effective Date.

New-Penn Management Co., Inc., will continue management of the
hotel.

The Debtor's current agreement with HLT Existing Franchise
Holding, LLC, by which it operates the Hotel as a Hampton Inn,
expires in November 2013.  The Debtor has engaged in negotiations
regarding continued operation of the hotel as a Hampton Inn.

A copy of the First Amended Disclosure Statement is available for
free at http://bankrupt.com/misc/FIELD_FAMILY_1ds.pdf

                        About Field Family

Five creditors filed an involuntary Chapter 11 bankruptcy petition
against King of Prussia, Pa.-based Field Family Associates, LLC
(Bankr. E.D. Pa. Case No. 12-16331) on July 2, 2012.  On Sept. 6,
2012, a sixth creditor filed a Joinder in the involuntary Chapter
11 Petition.  The Court entered an order for relief on Sept. 12,
2012.  The Debtor owns and operates a 216-room hotel located at
144-10 135th Steet, in Jamaica, New York.

Judge Stephen Raslavich presides over the case.  Catherine G.
Pappas, Esq., Lawrence G. McMichael, Esq., and Peter C. Hughes,
Esq., at Dilworth Paxson LLP, in Philadelphia, Pa., represent the
Alleged Debtor as counsel.  Ashely M. Chan, Esq., at Hangley
Aronchick Segal & Pudlin, in Philadelphia, Pa., represents the
petitioning creditors as counsel.

The U.S. Trustee appointed a three-member creditors committee.
Hangley Aronchick Segal Pudline & Schiller represents the
Committee.


FINJAN HOLDINGS: Former Intel Exec. Joins as VP, IP Licensing
-------------------------------------------------------------
Ivan Chaperot has joined Finjan Holdings, Inc., as vice president,
Intellectual Property (IP) Licensing.  In this newly created
position, he will be responsible for leading Finjan's IP licensing
programs.  Mr. Chaperot brings a wealth of experience from working
with some of the industry's leading technology and IP asset
management companies.  He is joining the Company as a member of
the senior management team and will report directly to Finjan's
President, Phil Hartstein.

Before joining Finjan, Mr. Chaperot was responsible for strategic
and large scale patent acquisitions and licensing transactions at
Intel Corporation, a position he held since November 2011.
Previously, he was a licensing executive at Intellectual Ventures,
a privately-held invention capital company, managing and licensing
a patent investment portfolio worth over $100 million relating to
software technologies.  During his career, Mr. Chaperot developed
successful outbound patent sales and licensing programs in the
U.S. and throughout Europe.

"Ivan brings a wealth of IP asset management, patent sales,
acquisitions and licensing experience to our organization," said
Finjan's President, Phil Hartstein.  "His expertise will be
invaluable as Finjan continues to execute and expand on its
strategy of granting IP licenses while fostering innovation in the
cybersecurity sector."

"Finjan is uniquely positioned with a foundational patent
portfolio rooted in its own invention, a successful track record
of generating licenses, a team with deep expertise and rich
relationships to shape and execute the expansion of this program,"
said Ivan Chaperot.  "The IP market is maturing very fast, with
the evolution of new business models that intellectual property as
an asset class enables.  These developments provide formidable
organic and external growth opportunities, including M&A, to a
nimble public company focused on IP and technology, like Finjan."

Mr. Chaperot is a member of the Licensing Executive Society (LES)
and LES International.  He has authored and lectured on financial
valuation and licensing.  Mr. Chaperot is a European Patent
Attorney and a French Patent Attorney.

Recognized internationally as a pioneer and leader in web and
network security, Finjan's decades-long investment in innovation
is captured in its patent portfolio, centered around software and
hardware technologies capable of proactively detecting previously
unknown and emerging threats on a real-time, behavior-based basis.
Finjan has successfully licensed its patents to five major
software and technology companies around the world.

                            About Finjan

Finjan, formerly known as Converted Organics, is a leading online
security and technology company which owns a portfolio of patents,
related to software that proactively detects malicious code and
thereby protects end-users from identity and data theft, spyware,
malware, phishing, trojans and other online threats.  Founded in
1997, Finjan is one of the first companies to develop and patent
technology and software that is capable of detecting previously
unknown and emerging threats on a real-time, behavior-based basis,
in contrast to signature-based methods of intercepting only known
threats to computers, which were previously standard in the online
security industry.

Converted Organics disclosed a net loss of $8.42 million in 2012,
as compared with a net loss of $17.98 million in 2011.  Finjan
Holdings's balance sheet at Sept. 30, 2013, showed $30.35
million in total assets, $927,000 in total liabilities and $29.42
million in total stockholders' equity.

Moody, Famiglietti & Andronico, LLP, in Tewksbury, Massachusetts,
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 an
accumulated deficit that raises substantial doubt about the
Company's ability to continue as a going concern.


FNBH BANCORP: Amends 2.3 Million Shares Rights Offering
-------------------------------------------------------
FNBH Bancorp, Inc., amended its Form S-1 registration statement
in connection with the Company's offer to holders of its common
stock to buy additional shares of the Company's common stock at a
price of $0.70 per share.  The Company is offering up to 2,300,000
shares of its common stock.

The Company is offering the shares on a "best efforts" basis, and
there is no minimum number of shares that must be sold.  This
means there is no guarantee that the Company will be able to sell
all or any of the shares offered, and that any purchaser of common
stock in the offering may be the only purchaser.

The Company's common stock is currently quoted on the OTCBB under
the symbol "FNHM."  On [__], the last reported sale price of our
common stock was $[__] per share.

The Company amended the registration statement to delay its
effective date.

A copy of the Form S-1/A prospectus is available free at:

                        http://is.gd/MPPXfR

                        About FNBH Bancorp

Howell, Michigan-based FNBH Bancorp, Inc., is a one-bank holding
company, which owns all of the outstanding capital stock of First
National Bank in Howell.  The Bank was originally organized in
1934 as a national banking association.  As of Dec. 31, 2011, the
Bank had approximately 85 full-time and part-time employees.  The
Bank serves primarily five communities, Howell, Brighton, Green
Oak Township, Hartland, and Fowlerville, all of which are located
in Livingston County.

FNBH disclosed net income of $329,000 in 2012, as compared with a
net loss of $3.57 million in 2011.  The Company's balance sheet at
Sept. 30, 2013, showed $301.79 million in total assets, $292.65
million in total liabilities and $9.14 million in total
shareholders' equity.

BDO USA, LLP, in Grand Rapids, Michigan, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.

"The Corporation's subsidiary bank ("Bank") is significantly
undercapitalized under regulatory capital guidelines and, during
2009, the Bank entered into a consent order regulatory enforcement
action ("consent order") with its primary regulator, the Office of
the Comptroller of the Currency.  The consent order requires
management to take a number of actions, including, among other
things, increasing and maintaining its capital levels at amounts
in excess of the Bank's current capital levels.  As discussed in
Note 20, the Bank has not yet met the higher capital requirements
and is therefore not in compliance with the consent order.  As a
result of the uncertain potential impact of future regulatory
actions, circumstances exist that raise substantial doubt about
the Corporation's ability to continue as a going concern."


FREEDOM INDUSTRIES: UST Seeks to Probe Bankruptcy Lawyers
---------------------------------------------------------
Jacqueline Palank, writing for Daily Bankruptcy Review, reported
that Assistant U.S. Trustee Debra A. Wertman is asking the U.S.
Bankruptcy Court in Charleston, W.Va., to give her and Freedom
Industries Inc.'s creditors time to conduct a "full review" of
disclosures of past client relationships by Freedom's bankruptcy
lawyers at McGuireWoods LLP to ensure the firm doesn't have any
conflicts of interest.

"A preliminary review of McGuireWoods's disclosures, however,
revealed several connections between McGuireWoods and key parties
in this case that require further investigation," Ms. Wertman said
in court papers, the report cited.

McGuireWoods spokesman Bob Lewis said: "McGuireWoods is
cooperating with the U.S. Trustee and will have no further
comment," the report also cited.

Ms. Wertman's court filing came after The Wall Street Journal
reported on McGuireWoods 's representation of Chemstream Holdings
Inc. as the company acquired Freedom for $20 million in December.
The deal is ripe for scrutiny by creditors seeking damages from
Freedom for lost wages, lost business and property or personal
injury as a result of last month's chemical spill, which affected
the water supply of about 300,000 West Virginians, the report
related.

"The firm will not represent [Freedom] in matters directly adverse
to" Rosebud Mining, or to Mr. Forrest, McGuireWoods said,
supplementing its earlier disclosures, the report added.  The firm
also won't be able to investigate, on Freedom's behalf,
Chemstream's takeover of Freedom. That work will fall to Barth &
Thompson, a West Virginia firm hired to work on the case,
according to the filing.

The McGuireWoods spokesman added that the law firm "takes very
seriously its ethical and disclosure obligations and devotes
significant resources to those matters to ensure compliance."

                    About Freedom Industries

Freedom Industries Inc., the company connected to a chemical spill
that tainted the water supply in West Virginia, sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. W.Va. Case
No. 14-bk-20017) on Jan. 17, 2014.  The case is assigned to Judge
Ronald G. Pearson.

The Debtor is represented by Mark E Freedlander, Esq., at McGuire
Woods LLP, in Pittsburgh, Pennsylvania; and Stephen L. Thompson,
Esq., at Barth & Thompson, in Charleston, West Virginia.

The Debtor estimated assets and debt of $1 million to $10 million.

The petition was signed by Gary Southern, president.


FUSION TELECOMMUNICATIONS: Obtains $4.3MM From Stock Offering
-------------------------------------------------------------
At a closing held on Jan. 24, 2014, Fusion Telecommunications
International, Inc., accepted subscriptions from and issued to a
total of 39 accredited investors, an aggregate of 4,358 shares of
its Series B-2 Cumulative Convertible Preferred Stock, par value
$0.01 per share, and (b) Warrants to purchase 13,945,600 shares of
the Company's Common Stock and received gross cash proceeds of
$4,358,000.  The proceeds, net of transaction expenses, will be
used for general corporate purposes.  The closing was the second
(and final) closing of an offering of Series B-2 Preferred Stock
and Investor Warrants that provided total cash proceeds of $20.8
million, exclusive of debt conversions totaling $2.05 million on
the same terms as provided to other Investors.

Each share of Series B-2 Preferred Stock has a Stated Value of
$1,000, and is convertible into shares of the Company's Common
Stock at a conversion price of $0.10 per share, subject to
adjustment.  Subject to the other terms of the Series B-2
Preferred Stock, the Series B-2 Preferred Stock sold to the
Investors is convertible into an aggregate of 43,580,000 shares of
the Company's Common Stock.

The Investor Warrants may be exercised at any time following the
Share Authorization Date, for a number of Warrant Shares that is
equal to 40 percent of the Stated Value divided by one hundred and
twenty 125 percent of the Preferred Conversion Price, as adjusted
for stock splits, combinations and reclassifications (the
"Investor Warrant Exercise Price").  Each Investor Warrant will be
exercisable at the Investor Warrant Exercise Price for a five-year
term commencing on the date of issuance.

Commencing Jan. 1, 2016, the Company has the right to force the
conversion of the Series B-2 Preferred Stock into Common Stock at
the Preferred Conversion Price; provided that the volume weighted
average price for Fusion's Common stock is at least $0.25 for ten
(10) consecutive trading days.  In addition, shares of Series B-2
Preferred Stock bear a cumulative six percent annual dividend
payable quarterly in arrears, in cash or shares of Common Stock,
at the option of the Company.

The Company sold the Series B-2 Preferred Stock and Investor
Warrants through its officers and directors, in conjunction with
the assistance of certain select broker-dealers, each of which is
registered as such with the Financial Industry Regulatory
Association.  The Company paid aggregate cash compensation to the
broker-dealers of $0.3 million, and issued or is obligated to
issue warrants to the broker-dealers or their respective designees
to purchase 1,930,000 shares of the Company's Common Stock.

A full-text copy of the Form 8-K report is available at:

                        http://is.gd/R9JGIu

                  About Fusion Telecommunications

New York City-based Fusion Telecommunications International, Inc.
(OTC BB: FSNN) is a provider of Internet Protocol ("IP") based
digital voice and data communications services to corporations and
carriers worldwide.

The Company reported a net loss of $5.20 million in 2012, as
compared with a net loss of $4.45 million in 2011.  The Company's
balance sheet at Sept. 30, 2013, showed $26.67 million in total
assets, $29.71 million in total liabilities and a $3.03 million
total stockholders' deficit.

Rothstein Kass, in Roseland, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that the
Company has had negative working capital balances, incurred
negative cash flows from operations and net losses since
inception, and has limited capital to fund future operations that
raises a substantial doubt about their ability to continue as a
going concern.


GLOBAL SHIP: Lenders Agree to Waive Feb. 10 Covenant Test
---------------------------------------------------------
Global Ship Lease on Feb. 12 disclosed that the container shipping
industry has been experiencing a significant cyclical downturn.
As a consequence, there has been a continued decline in charter
free market values of containerships since mid-2012.  While the
Company's stable business model largely insulates it from
volatility in the freight and charter markets, a covenant in the
credit facility with respect to the Leverage Ratio, which is the
ratio of outstanding drawings under the credit facility and the
aggregate charter free market value of the secured vessels, causes
the Company to be sensitive to significant declines in vessel
values.  Under the terms of the credit facility, the Leverage
Ratio cannot exceed 75%. The Leverage Ratio has little impact on
the Company's operating performance, as cash flows are largely
predictable under its business model.

In anticipation of the scheduled test of the Leverage Ratio as at
November 30, 2012, when the Company expected that the Leverage
Ratio would be between 75% and 90%, the Company agreed with its
lenders to waive the requirement to perform the Leverage Ratio
test until December 1, 2014.  Under the terms of the waiver, the
fixed interest margin to be paid over LIBOR increased to 3.75%,
prepayments became based on cash flow rather than a fixed amount
of $10 million per quarter, and dividends on common shares cannot
be paid.  On February 10, 2014 this waiver was extended, on the
same terms, such that the next scheduled test is May 1, 2015.

In the three months ended December 31, 2013, a total of $17.9
million of debt was repaid, leaving a balance outstanding of
$366.4 million.

                            Net Income

Net income for the three months ended December 31, 2013 was $7.9
million after $2.5 million non-cash interest rate derivative mark-
to-market gain.  For the three months ended December 31, 2012, net
income was $8.1 million after the $4.7 million non-cash interest
rate derivative mark-to-market gain.  Normalized net income, which
excludes the effect of the non-cash interest rate derivative mark-
to-market gains and losses, was $5.4 million for the three months
ended December 31, 2013 and $3.5 million for the three months
ended December 31, 2012.

Net income was $32.5 million for the year ended December 31, 2013
after a $14.3 million non-cash interest rate derivative mark-to-
market gain.  For the year ended December 31, 2012, net income was
$31.9 million after a $9.7 million non-cash interest rate
derivative mark-to-market gain.  Normalized net income was $18.2
million for the year ended December 31, 2013 and $22.2 million for
the year ended December 31, 2012.

A copy of Global Ship's earnings release is available for free at
http://is.gd/ggA6UX

                     About Global Ship Lease

London, England-based Global Ship Lease (NYSE: GSL, GSL.U and
GSL.WS) -- http://www.globalshiplease.com/-- is a containership
charter owner.  Incorporated in the Marshall Islands, Global Ship
Lease commenced operations in December 2007 with a business of
owning and chartering out containerships under long-term, fixed
rate charters to world class container liner companies.

Global Ship Lease owns 17 vessels with a total capacity of 66,297
TEU with a weighted average age at June 30, 2010, of 6.3 years.
All of the current vessels are fixed on long-term charters to CMA
CGM with an average remaining term of 8.6 years.  The Company has
contracts in place to purchase two 4,250 TEU newbuildings from
German interests for approximately US$77 million each that are
scheduled to be delivered in the fourth quarter of 2010.  The
Company also has agreements to charter out these newbuildings to
Zim Integrated Shipping Services Limited for seven or eight years
at charterer's option.

As reported in the Dec. 1, 2012, edition of the TCR, Global Ship
Lease disclosed that it had entered into an agreement with its
lenders to waive until Nov. 30, 2012, the requirement under its
credit facility to conduct loan-to-value tests.  The credit
facility requires that loan-to-value, which is the ratio of
outstanding borrowings under the credit facility to the aggregate
charter-free market value of the secured vessels, cannot exceed
75%.


GRAND CENTREVILLE: Can Use Cash Collateral Until July 31
--------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia, in
a third interim order, authorized Grand Centreville, LLC to use
cash collateral in which Wells Fargo Bank, N.A., asserts an
interest.

Wells Fargo serves as trustee for the registered holders of JP
Morgan Chase Commercial Mortgage Securities Corp., Commercial
Mortgage Pass-Through Certificates, Series 2005-CIBC13, as
assignee of the loan originally made by CIBC Inc., in the original
amount of $27,000,000 and related loan documents in secured
creditor's possession.

The Debtor's authorization to use cash collateral will terminate
on July 31, 2014.  The order also provides that the Debtor does
not pay (a) more than 110 percent for any line item set forth in
the budget in any given month, and (b) more than 100 percent of
the aggregate total amount set forth in the budget for any given
month.

As adequate protection from any diminution in value of the
lender's collateral, the Debtor will make (i) monthly payment of
$147,759; (ii) $60,000 additional protection payment; (iii) all
monthly tax, insurance, or other escrow payments required under
and pursuant to the terms of loan documents for such month, which
is the date of the order aggregates $47,071, and $2,145 per month
with regard to repairs; plus (iv) an amount equal to reasonable
attorneys' fees and expenses incurred by secured creditor in
connection with the loan and the Chapter 11 case.

                       About Grand Centreville

Grand Centreville, LLC, filed a Chapter 11 petition (Bankr. E.D.
Va. Case No. 13-13590) on Aug. 2, 2013.  The petition was signed
by Michael L. Schuett, principal of Black Creek Consulting Ltd.,
the receiver.  Judge Robert G. Mayer presides over the case.
Paula S. Beran, Esq., and Lynn L. Tavenner, Esq., at Tavenner &
Beran, PLC, in Richmond, Va., represent the Debtor as counsel.
In its schedules, the Debtor disclosed $40,550,045.74 in assets
and $26,247,602.00 in liabilities as of the petition date.


GREAT LAKES PROPERTIES: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Great Lakes Properties of Fenton, LLC
        12901 Fenton Heights Boulevard
        Fenton, MI 48430

Case No.: 14-30332

Chapter 11 Petition Date: February 12, 2014

Court: United States Bankruptcy Court
       Eastern District of Michigan (Flint)

Judge: Hon. Daniel S. Opperman

Debtor's Counsel: Robert N. Bassel, Esq.
                  P.O. Box T
                  Clinton, MI 49236
                  Tel: (248) 677-1234
                  Fax: (248) 369-4749
                  Email: bbassel@gmail.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Raad Asmar, member.

The Debtor did not file a list of its largest unsecured creditors
when it filed the petition.


GREGORY CANYONS: Creditors File Involuntary Bankruptcy Petition
---------------------------------------------------------------
Three entities allegedly owed $2.43 million are asking the
bankruptcy court in San Diego, California, to force Gregory
Canyons Ltd., Limited Liability Company, into bankruptcy under
Chapter 11.

The petitioning creditors are Capital Foresight Limited
Partnership (allegedly owed $428,000), Irwin Heller (owed $1.55
million) and the Richard Marcus Profit Sharing Plan (owed
$453,000).  Their claims are on account of loans provided to
Gregory Canyons.

The petitioning creditors are represented by attorneys at DSR &
Associates, P.C., in San Diego.

According to the docket, summonses have been served to Debtor.
The Debtor's answer to the involuntary Chapter 11 petition is due
March 5, 2014.

The involuntary petition (Bankr. S.D. Cal. Case No. 14-00983) was
filed Feb. 12, 2014.  Chief Judge Laura S. Taylor is assigned to
the case.


GREGORY CANYONS: Involuntary Chapter 11 Case Summary
----------------------------------------------------
Alleged Debtor: Gregory Canyons Ltd., Limited Liability Company
                160 Industrial Street, Suite 200
                San Marcos, CA 92078

Case Number: 14-00983

Involuntary Chapter 11 Petition Date: February 12, 2014

Court: United States Bankruptcy Court
       Southern District of California (San Diego)

Judge: Hon. Laura S. Taylor

Petitioner's Counsel: Deborah Schrier-Rape, Esq.
                      DSR & ASSOCIATES, P.C.
                      945 Fourth Avenue, Suite 305
                      San Diego, CA 92101
                      Tel: 214-732-6441
                      Email: dsr@dsr-law.com

Debtor's petitioners:

Petitioners                    Nature of Claim  Claim Amount
-----------                    ---------------  ------------
Capital Foresight                  Loan           $428,441
Limited Partnership
2980 Beverly Glen Cir.,
Ste. 300
Los Angeles, CA 90077

Irwin Heller                       Loan           $1,551,837
c/o Mintz, Levin, Cohn,
Ferris, Glovsky,
and Pepeo P.C.
One Financial Center
Boston, MA 02111

Richard Marcus Profit               Loan           $452,905
Sharing Plan
c/o Richard Marcus
Western Skies Associates, LLC
5655 S. Yosemite Street, Suite 201
Englewood, CO 80111


GRIFFON CORP: Moody's Affirms B1 CFR & Rates Unsecured Notes B1
---------------------------------------------------------------
Moody's Investors Service affirmed Griffon Corporation's B1
Corporate Family Rating (CFR) and B1-PD Probability of Default
Rating (PDR) and assigned a B1 rating to the company's newly
proposed $550 million senior unsecured notes offering. At the same
time, Moody's affirmed the company's SGL-2 speculative grade
liquidity rating. The outlook is maintained at stable.

Proceeds from the $550 million proposed notes offering and
approximately $38 million of balance sheet cash will be used to
refinance $550 million of existing senior unsecured notes due
2018, pay a tender premium of nearly $30 million and fund
transaction fees and expenses. While the transaction is
effectively leverage neutral and is expected to improve the
company's cost of capital, it also marginally weakens near-term
liquidity because of the use of balance sheet cash. However, the
company maintains a $225 million revolving credit facility that
had approximately $180 million of availability (subject to
financial covenant limitations) at December 31, 2013, which
continues to provide the company with good liquidity.

"The affirmation of Griffon's ratings assumes credit metrics will
improve from current levels, which are relatively weak for the B1
rating category," says Brian Silver, Analyst at Moody's Investors
Service. "Restructuring and other cost saving initiatives are
expected to improve Griffon's operating margins over time and
drive deleveraging and improved cash flow generation."

The following ratings were assigned to Griffon Corporation
(subject to final documentation):

  $550 million senior unsecured notes due 2022 at B1 (LGD4, 57%).

The following ratings were affirmed at Griffon Corporation:

  Corporate Family Rating at B1;

  Probability of Default Rating at B1-PD;

  $225 million senior secured revolving credit facility due 2018
  at Ba1 (LGD2, 10%);

  Speculative Grade Liquidity Rating at SGL-2

The following ratings will be withdrawn upon the close of the
transaction:

  $550 million senior notes due 2018 at B1 (LGD4, 57%).

The outlook is maintained at stable.

Ratings Rationale

Griffon's B1 Corporate Family Rating reflects its high leverage,
mid-single digit operating margins and relatively modest revenue
size within each of its operating segments. Moody's expects
moderate revenue growth during the next 12 -- 18 months along with
margin improvement stemming from cost saving initiatives. The
Telephonics business, which specializes in radar and other
surveillance equipment mostly for US Government military
application, continues to face some uncertainty with respect to
government defense spending, but the healthy backlog eases near-
term concerns. The Home & Building Product segment is expected to
continue to benefit from improvement in the US housing market. In
addition, while snow shovel sales have been very strong, Moody's
expects more normalized weather conditions to temper growth in the
Ames segment over time, but more moderate weather may benefit the
segment's other product lines. Also, Moody's views the company's
leading market position in many of its product segments favorably
and Moody's expect the company to maintain good liquidity over the
next year.

The stable outlook reflects Moody's view that credit metrics will
moderately improve during the company's FY14 and improve at a
faster pace in FY15 following the completion of the company's HBP
restructuring initiatives. The stable outlook assumes the company
will not enter into any large debt-financed acquisitions during
the next twelve months and that the housing market will not
experience any large shocks. Also, while there continues to be
uncertainty surrounding future US military spending and the
macroeconomic situation in Europe, these variables are not
expected to materially impact the company during the next twelve
months.

The ratings could be downgraded if leverage, as measured by
adjusted debt-to-EBITDA, is sustained above 5.5 times during the
next twelve months. Also, if adjusted operating margins begin to
approach 4% or if interest coverage, as measured by EBITA-to-
interest, drops below 1.5 times, the ratings could be downgraded.
In addition, the ratings could be downgraded if there is a
material weakening of liquidity, significant share buybacks, or if
the company engages in a large debt-financed acquisition.
Alternatively, although unlikely at this time, Griffon's ratings
could be upgraded if credit metrics improve such that debt-to-
EBITDA is sustained at less than 4.0 times, EBITA-to-interest is
greater than 2.0 times, and operating margins approach the high
single digit range.

The principal methodology used in this rating was the Global
Consumer Durables 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.

Griffon Corporation (NYSE:GFF) is a diversified management and
holding company that conducts business through its wholly-owned
subsidiaries. Griffon manages its operations through three
business units: Home & Building Products (46% of revenues), Clopay
Plastic Products (30% of revenues), and Telephonics (24% of
revenues). The Home & Building Products unit manufactures
residential garage doors and non-powered lawn and garden tools.
The Clopay Plastic Products unit manufactures specialty plastic
films and laminates for hygienic, healthcare and industrial end
markets. The Telephonics segment develops and manufactures high-
technology, integrated information, communication and sensor
system solutions for use in military and commercial markets
worldwide. For the twelve months ended December 31, 2013 the
company generated total revenue of approximately $1.9 billion.


GRIFFON CORP: S&P Affirms 'BB-' CCR & Rates $550MM Sr. Notes 'BB-'
------------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its ratings, including
the 'BB-' corporate credit rating, on New York City-based Griffon
Corp.  The outlook is stable.  At the same time, S&P assigned its
'BB-' issue-level rating to the company's proposed eight-year
senior unsecured notes with a recovery rating of '3', indicating
that investors can expect meaningful (50%-70%) recovery in the
event of a default.

"The corporate credit rating on Griffon Corp. reflects a
combination of what we consider to be the company's "fair"
business risk profile and "aggressive" financial risk profile,"
said Standard & Poor's credit analyst Thomas Nadramia.

Based on S&P's expectations, it views the company's liquidity
position as adequate.

The stable rating outlook reflects S&P's expectation that credit
measures will remain in the range of an aggressive financial risk
profile, with debt to EBITDA of 4x-5x, FFO to debt of 15%-20%, and
interest coverage of more than 3x.  S&P expects Griffon will
maintain adequate liquidity.

S&P could lower the rating if Griffon's operating performance
deteriorated due to the potential loss of a large customer or a
significant cutback in defense contracts using Griffon's
telephonics products, such that EBITDA contracted, resulting in
debt to EBITDA and other measures to be indicative of a "highly
leveraged" financial risk profile (e.g., debt to EBITDA of greater
than 5x).  A downgrade could also occur if Griffon pursued a more
aggressive financial policy of debt-financed share repurchases or
acquisitions.

An upgrade could occur if Griffon's leverage measures improved to
levels S&P views as consistent with a significant financial risk
profile (e.g. debt to EBITDA of 3x-4x) and was sustained at these
levels with only modest use of debt for acquisitions or share
repurchases.  S&P thinks such a scenario could occur if Griffon
could improve revenues in the mid-single-digit percentage and
EBITDA margins improved by about 100 basis points.


GRUPO UNITED: Panama Says Canal Talks Making Progress
-----------------------------------------------------
Dan Molinski and David Roman, writing for The Wall Street Journal,
reported that Panama and a European consortium of builders in
charge of a historic expansion of the Panama Canal have made some
progress in talks to end a bitter dispute over money and a final
decision on the issue will be made within a week, the head of the
canal said on Feb. 12.

According to the report, speaking to reporters, Jorqe Quijano, the
head of the Panama Canal Authority, struck a slightly more
positive tone than in past days on the issue of whether the two
sides can reach a deal to keep the project on track for completion
next year. He said his team of negotiators is working around the
clock to find a way out of the impasse over $1.6 billion in
construction-cost overruns, but added Panama's "patience isn't
everlasting."

The building companies began complaining publicly about six weeks
ago, saying overruns left them without capital to finish work, the
report related. They demand that Panama fork out at least part of
the extra costs in advance, before a Miami-based arbitration court
decides who will pay in the end.  Panama says it has already paid
enough cash ahead of schedule and refuses to negotiate outside the
original contract.

Mr. Quijano said the agreements reached suggest things are moving
in the right direction toward a deal, the report further related.

"But this doesn't mean we've abandoned the alternative, which is
for us to take over the project. That option is still in play and
we're preparing for it in case it's necessary," he said, the
report cited.


GUIDED THERAPEUTICS: George Landegger Amends 13G Filing
-------------------------------------------------------
George F. Landegger and related entities filed with the U.S.
Securities and Exchange Commission an amended Schedule 13G on Jan.
29, 2014.  Mr. Landegger and his entities as of May 23, 2013, they
beneficially owned 7,062,615 shares of common stock of Guided
Therapeutics, Inc., representing 10.6 percent of the shares
outstanding.  Mr. Landegger previously reported beneficial
ownership of 6,768,497 common shares as of Nov. 22, 2011.  A copy
of the regulatory filing is available at http://is.gd/QtZctq

                     About Guided Therapeutics

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

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

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

The Company's balance sheet at Sept. 30, 2013, showed $2.93
million in total assets, $2.40 million in total liabilities and
$522,000 in total stockholders' equity.

                         Bankruptcy Warning

"Management may obtain additional funds through the private sale
of preferred stock or debt securities, public and private sales of
common stock, funding from collaborative arrangements, and grants,
if available, and believes that such financing will be sufficient
to support planned operations through the second quarter of 2014.
If sufficient capital cannot be raised by the end of the second
quarter of 2014, the Company has plans to curtail operations by
reducing discretionary spending and staffing levels, and
attempting to operate by only pursuing activities for which it has
external financial support, such additional NCI, NHI or other
grant funding.  However, there can be no assurance that such
external financial support will be sufficient to maintain even
limited operations or that the Company will be able to raise
additional funds on acceptable terms, or at all.  In such a case,
the Company might be required to enter into unfavorable agreements
or, if that is not possible, be unable to continue operations, and
to the extent practicable, liquidate and/or file for bankruptcy
protection," the Company said in its quarterly report for the
period ended Sept. 30, 2013.


GULFCO HOLDING: Prospect Capital Seeks Dismissal of Ch. 11 Case
---------------------------------------------------------------
Law360 reported that Prospect Capital Corp., which is a major
creditor in oil drilling equipment holding company Gulfco Holding
Corp.'s bankruptcy, pushed for the Chapter 11 case to be thrown
out, five days after the debtor accused it of plotting "to steal"
a nondebtor operating affiliate.

According to the report, in a motion before the Delaware
bankruptcy court, Prospect alleges that Gulfco filed its case in
bad faith because the situation is really just a two-party dispute
that's been improperly cloaked as a Chapter 11 case.

Headquartered in Wilton, Connecticut, Gulfco Holding Corp. filed a
bare-bones Chapter 11 petition (Bankr. D. Del. Case No. 13-13113)
on Nov. 27, 2013.

The Hon. Brendan Linehan Shannon presides over the case.  Michael
Jason Barrie, Esq., at Benesch Friedlander Coplan & Aronoff LLP
represents the Debtor in its restructuring effort.  The Debtor
estimated $10 million to $50 million in assets and debts.

According to the list of top unsecured creditors, PNC Bank,
National Association is owed $5.4 million and Prospect Capital
Corp. has a disputed claim of $40.95 million on account of its
shares of stock in Gulf Coast Machine & Supply Company.

Altus Capital Partners II, L.P. and its affiliates, Franklin Park
Co-Investment Fund, L.P., David LeBlanc, and Steven Tidwell own
shares in the company.

Elizabeth A. Burgess, as president and CEO, signed the Chapter 11
petition.


HAAS ENVIRONMENTAL: Panel Hires EisnerAmper as Financial Advisor
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Haas
Environmental, Inc., seeks authorization from the U.S. Bankruptcy
Court for the District of New Jersey to retain EisnerAmper LLP as
financial advisor, effective Jan. 1, 2014.

The Committee requires EisnerAmper to:

   (a) gain an understanding of the Debtor's corporate structure,
       including non-debtor entities;

   (b) perform a preliminary assessment of the Debtor's cash needs
       and related projections;

   (c) establish reporting procedures that will allow for the
       monitoring of the Debtor's post-petition operations;

   (d) develop and evaluate alternative sale and liquidation
       strategies;

   (e) prepare a preliminary dividend analysis to determine
       potential return to unsecured creditors;

   (f) gain an understanding of the Debtor's accounting systems;

   (g) scrutinize proposed sale transactions, if any, including
       the assumption and rejection of executory contracts;

   (h) identify, analyze and investigate transactions with non-
       Debtor entities and other related parties;

   (i) monitor the Debtor's weekly operating results, availability
       and borrowing base certificates;

   (j) analyze the Debtor's budget-to-actual results on an ongoing
       basis for reasonableness and cost control;

   (k) communicate findings to the Committee;

   (l) investigate and analyze all potential avoidance action
       claims;

   (m) assist the Committee in negotiating the key terms of a Plan
       of Reorganization/Liquidation;

   (n) review and analyze any proposed Plan of
       Reorganization/Liquidation and Disclosure Statement; and

   (o) render such assistance as the Committee and its counsel may
       deem necessary.

EisnerAmper will be paid at these hourly rates:

       Director/Partners               $425-$590
       Manager/Senior Managers         $280-$420
       Staff/Senior Staff              $160-$275
       Paraprofessional                $130-$160

The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Allen D. Wilen, partner of EisnerAmper, 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.

EisnerAmper can be reached at:

       Allen D. Wilen
       EISNERAMPER LLP
       111 Wood Avenue South
       Iselin, NJ 08830-2700
       Tel: (732) 243-7386

Haas Environmental, Inc., filed a Chapter 11 petition (Bankr.
D.N.J. Case No. 13-27297) on Aug. 6, 2013.  Eugene Haas signed the
petition as president.  Judge Kathryn C. Ferguson presides over
the case.  The Debtor disclosed $10,127,069 in assets and
$11,595,611 in liabilities as of the Chapter 11 filing.  Jerrold
N. Poslusny, Jr., Esq., at Cozen O'Connor, in Cherry Hill, New
Jersey, serves as the Debtor's counsel.

Mary E. Seymour, Esq., at Lowenstein Sandler LLP, serves as
counsel for the Official Committee of Unsecured Creditors.


HAAS ENVIRONMENTAL: Hires Guida Realty as Real Estate Broker
------------------------------------------------------------
Haas Environmental, Inc. asks for permission from the Hon. Kathryn
C. Ferguson of the U.S. Bankruptcy Court for the District of New
Jersey to employ Guida Realty as real estate broker.

The Debtor seeks to retain Guida Realty to market and locate a
buyer for its real estate located at 647 Market Street,
Steubanville, OH, and assist the Debtor in closing on such sale.

Guida Realty will seek 6% commission on the gross proceeds of the
sale.

Anthony J. Guida, principal of Guida Realty, 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.

Guida Realty can be reached at:

       Anthony J. Guida
       GUIDA REALTY
       4221 Sunset Boulevard
       Steubanville, OH 43952
       Tel: (740) 264-5569
       Fax: (740) 264-5995

Haas Environmental, Inc., filed a Chapter 11 petition (Bankr.
D.N.J. Case No. 13-27297) on Aug. 6, 2013.  Eugene Haas signed the
petition as president.  Judge Kathryn C. Ferguson presides over
the case.  The Debtor disclosed $10,127,069 in assets and
$11,595,611 in liabilities as of the Chapter 11 filing.  Jerrold
N. Poslusny, Jr., Esq., at Cozen O'Connor, in Cherry Hill, New
Jersey, serves as the Debtor's counsel.

Mary E. Seymour, Esq., at Lowenstein Sandler LLP, serves as
counsel for the Official Committee of Unsecured Creditors.



HERCULES OFFSHORE: BlackRock Stake at 5.48% as of Dec. 31
---------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, BlackRock, Inc., disclosed that as of
Dec. 31, 2013, it beneficially owned 9,544,513 shares of common
stock of Hercules Offshore Inc. representing 6 percent of the
shares outstanding.  BlackRock previously reported beneficial
ownership of 8,682,004 common shares or 5.48 percent equity stake
as of Dec. 31, 2012.  A copy of the regulatory filing is available
for free at http://is.gd/NC9q4T

                       About Hercules Offshore

Hercules Offshore Inc. (NASDAQ: HERO) --
http://www.herculesoffshore.com/-- provides shallow-water
drilling and marine services to the oil and natural gas
exploration and production industry in the United States, Gulf of
Mexico and internationally.  The Company provides these services
to integrated energy companies, independent oil and natural gas
operators and national oil companies.  The Company operates in six
business segments: Domestic Offshore, International Offshore,
Inland, Domestic Liftboats, International Liftboats and Delta
Towing.

Hercules incurred a net loss of $127 million in 2012, a net loss
of $76.12 million in 2011, and a net loss of $134.59 million in
2010.  The Company's balance sheet at Sept. 30, 2013, showed $2.40
billion in total assets, $1.48 billion in total liabilities and
$922.37 million in stockholders' equity.

                           *     *     *

The Troubled Company Reporter said on April 11, 2013, that
Moody's Investors Service upgraded Hercules Offshore, Inc.'s
Corporate Family Rating to B2 from B3.  Hercules' B2 CFR is
supported by its improved cash flow and lower leverage on the back
of increased drilling activity and higher day-rates in the Gulf of
Mexico (GOM)

As reported by the TCR on Nov. 6, 2012, Standard & Poor's Ratings
Services raised its corporate credit rating on Houston-based
Hercules Offshore Inc. to 'B' from 'B-'.  "The upgrade reflects
the improving market conditions in the Gulf of Mexico and our
expectations that Hercules' fleet will continue to benefit," said
Standard & Poor's credit analyst Stephen Scovotti.


HERON LAKE: Posts $2.3 Million Net Income in Fiscal 2013
--------------------------------------------------------
Heron Lake BioEnergy, LLC, filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing
net income of $2.26 million on $163.76 million of revenues for the
year ended Oct. 31, 2013, as compared with a net loss of $32.35
million on $168.65 million of revenues for the same period a year
ago.

The Company's balance sheet at Oct. 31, 2013, showed $60.79
million in total assets, $33.24 million in total liabilities and
$27.55 million in total members' equity.

Boulay PLLP, in Minneapolis, Minnesota, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Oct. 31, 2013.  The independent auditors noted that
the Company has incurred losses due to difficult market conditions
and had lower levels of working capital than was desired.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

                         Bankruptcy Warning

The Company has entered into an amended and restated master loan
agreement with AgStar Financial Services, PCA, under which the
Company has two forms of debt as of Oct. 31, 2013, a term note and
a revolving term note.  The Company's total indebtedness to AgStar
as of Oct. 31, 2013, was approximately $22.6 million, consisting
of approximately $16.6 million under the term note and
approximately $6 million under the revolving term note.

The Company's loan agreements with AgStar are secured by
substantially all business assets and are subject to various
financial and non-financial covenants that limit distributions and
debt and require minimum debt service coverage, net worth, and
working capital requirements.  The Company was in compliance with
the covenants of its loan agreements with AgStar as of Oct. 31,
2013.  In the past, the Company's failure to comply with the
covenants of the master loan agreement and failure to timely pay
required installments of principal has resulted in events of
default under the master loan agreement, entitling AgStar to
accelerate and declare due all amounts outstanding under the
master loan agreement.  If AgStar accelerated and declared due all
amounts outstanding under the master loan agreement, the Company
would not have adequate cash to repay the amounts due, resulting
in a loss of control of the Company's business or bankruptcy.

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

                        http://is.gd/C9FmFm

                         About Heron Lake

Heron Lake BioEnergy, LLC, operated a dry mill, coal fired ethanol
plant in Heron Lake, Minnesota.  After completing a conversion in
November 2011, the Company is now a natural gas fired ethanol
plant.  Its subsidiary, HLBE Pipeline Company, LLC, owns 73
percent of Agrinatural Gas, LLC, the pipeline company formed to
construct, own, and operate a natural gas pipeline that provides
natural gas to the Company's ethanol production facility through a
connection with the natural gas pipeline facilities of Northern
Border Pipeline Company in Cottonwood County, Minnesota.  Its
subsidiary, Lakefield Farmers Elevator, LLC, has grain facilities
at Lakefield and Wilder, Minnesota.  At nameplate, the Company's
ethanol plant has the capacity to process approximately 18.0
million bushels of corn each year, producing approximately 50
million gallons per year of fuel-grade ethanol and approximately
160,000 tons of distillers' grains with soluble.


HOPE ACADEMY: Fitch Affirms 'BB' Rating on $8.88MM Revenue Bonds
----------------------------------------------------------------
Fitch Ratings affirms the 'BB' rating on approximately $8.885
million of outstanding public school academy limited obligation
revenue bonds, series 2011, issued by the Michigan Finance
Authority on behalf of Hope Academy (Hope, Academy).

The Rating Outlook is Stable.

SECURITY

Pledged revenues consist of up to 20% of state allocated per pupil
foundation allowance (PPFA), and all other legally available,
unrestricted funds.  The trustee intercepts the pledged revenues
from the State of Michigan monthly, for bond debt service, prior
to remitting excess funds to Hope.  In addition to the intercept,
bondholders benefit from a property mortgage and a cash-funded
debt service reserve equal to maximum annual debt service (MADS).
There is a debt service annual coverage (DSC) covenant of at least
1.1x.

KEY RATING DRIVERS

WEAK BALANCE SHEET AND OPERATIONAL VOLATILITY: Hope's operating
performance, balance sheet resources and debt burden metrics have
fluctuated downward due to moving into a new building (fiscal
2012) and upward when hosting an alternative high school year
(fiscal 2013).  The balance sheet remains slim for the rating
category.

ACADEMIC PERFORMANCE FALLS SHORT: Hope has demonstrated low
academic performance in the last three years, in part due to a
sizeable special education population.  Given significant weight
placed on academic performance in the charter renewal process,
Hope remains susceptible to non-renewal risk, even though its
charter was renewed in June 2013 for a three-year term.  This term
was shorter than its prior three five-year charter terms.

STRONG ENROLLMENT: Hope has grown enrollment in recent years as a
result of adding 7th and 8th grade classes.  This growth has met
or exceeded projections despite academic issues, and lends
stability to the rating.

CAPABLE MANAGEMENT TEAM: The management team exhibits academic
expertise, fiscal conservatism and dedication to the local
community.  However, implementation of academic initiatives could
further stress already limited financial flexibility.

RATING SENSITIVITIES

ACADEMIC PERFORMANCE: Failure to improve academic performance
generally, and under the state-required academic transformation
plan, could heighten renewal risk.

FINANCIAL PERFORMANCE: Maintaining balanced operating performance,
generating positive debt service coverage, building reserves, and
meeting bond covenants are important to maintaining Hope's current
rating.

STANDARD SECTOR CONCERNS: A limited financial cushion; substantial
reliance on enrollment-driven, per pupil funding; and charter
renewal risk are credit concerns common among all charter school
transactions that, if pressured, could negatively impact the
rating over time.

CREDIT PROFILE

Hope Academy is a K-8 charter school located near the historic
district of Detroit, MI (the city), and serves students living in
the city and surrounding suburbs.  Hope has operated since 1998,
having received an initial five-year charter and two subsequent
five-year renewals (through June, 2013).  Eastern Michigan
University (EMU) reauthorized Hope's current charter for only
three years, effective through June 2016, due in part to academic
performance.  Most students are considered low income and qualify
for free or reduced lunch assistance.

Proceeds of the series 2011 bonds funded the purchase of a
facility (formerly a Detroit Public School building) with a
capacity of about 700 students.  This allowed Hope to add seventh
and eighth grades.  As of the 2012/2013 academic year, Hope was
fully moved into the new space, and serves K-8 as planned.
Management continues to study adding on grades 9-12. Enrollment
for fall 2013 was 705 students, but by mid-year had dipped to
around 656.

A separate alternative high school shared Hope's facility - and
its charter authorization - on a temporary basis for the 2012/2013
academic year only.  Only Hope occupies the facility in 2013/2014.
Hope uses an out-sourced chief financial officer (CFO), who also
serves as the CFO of Black Family Development, Inc.  Hope's in-
house management team has not changed, which Fitch notes
positively.

SLIM OPERATING PERFORMANCE

Hope's operating margin has fluctuated widely in recent years.  It
was modestly negative in four out of the last six years, was
negative 9.5% in 2012, and returned to positive 1.5% in fiscal
2013.  The negative margin in fiscal 2012 was in large part due to
delays in moving into the new building and related non-recurring
expenses.  The stronger fiscal 2013 results include financial
operations of an alternative high school (grade 9 only) which is
no longer part of Hope and will not be included in its 2014 audit
results.

In Fitch's view, the variable financial results underscore Hope's
limited ability to absorb unanticipated revenue or expense
fluctuations. For the current fiscal 2014 budget, the school
budgeted a modest surplus.  Interim financial reports for the
first two quarters of the year indicate operations are balanced.
However, Fitch will monitor the financial impact of the mid-year
enrollment decline once the fiscal 2014 audit becomes available.

GENERALLY SUFFICIENT DEBT SERVICE COVERAGE

Positively, Hope has achieved at least 1.0x current coverage in
all but one of the last six years.  Fiscal 2013 MADS coverage,
reflecting the series 2011 bonds, was 1.5x.  An exception was
fiscal 2012, in which non-recurring expenses related to the new
facility resulted in a $561,000 operating deficit and only 0.4X
MADS coverage.

LIMITED BALANCE SHEET

Hope has a very limited balance sheet. Available funds, defined as
cash and investments not permanently restricted, declined to
$145,000 at June 30, 2013.  This represented a very modest 1.9% of
annual operating expenses ($7.8 million) and 1.6% of outstanding
debt ($8.9 million).  Fitch considers this slim liquidity level
low for the 'BB' rating category.

In addition, the school utilizes a bank line ($300,000) and a
state aid anticipation note ($650,000) to smooth cash-flow during
the academic year.  The Stable Outlook indicates Fitch's
expectation that Hope's positive 2013 operating results and
positive debt service coverage will continue.  This should, over
time, grow available funds to a level more consistent with the
'BB' rating, and reduce reliance on short-term note and bank line
borrowing for working cash.

ACADEMIC PERFORMANCE

In each of the last three academic years (fiscal 2011, 2012 and
2013), Hope has failed to achieve federally mandated AYP (annual
yearly progress) targets.  Starting in academic year 2012/2013,
Michigan received a U.S. Department of Education waiver from
AYP/no child left behind requirement standards, and was thus
allowed to set its own standards.  However, Hope continues to be
an under-performing institution, and Michigan ranked it as a
'Priority' school in 2013, one with academic growth and
achievement among the lowest 5% in the state.  As such, it has
filed an academic transformation plan with the state, and is
working to improve academic indicators and testing results.  Like
other schools in Michigan and the U.S., Hope is also preparing for
Common Core academic standards, for which the first year is
expected to be 2014/2015.

Hope's charter authorizer noted that a single statistic determines
'priority' status, which for Hope is the academic performance
between its highest and lowest performing students, ranked state-
wide.  Hope maintains a sizeable special education population,
about 13% of enrollment, whose performance typically lags the
traditional population and contributed to the academic status.

RECENT CHARTER RENEWAL

EMU, Hope's authorizer, noted that academic performance is
weighted heavily in the renewal considerations. EMU renewed Hope's
charter effective June 2013, but for a three-year period instead
of the standard (and former) five-year period. This change was due
in part to Hope's academic performance.

There are substantial changes to the academic performance review
process in the state, which Fitch will monitor.  Importantly,
enrollment at Hope Academy has not suffered as a result of the
academic ranking. However, Fitch continues to view Hope's charter
renewal risk as heightened.

ALTERNATIVE HIGH SCHOOL

In fall 2012 (fiscal 2013), Hope Academy Schools of the Future
(HASF) enrolled about 104 ninth grade students in a separately
managed alternative high school program targeting at-risk
students.  The program had a strong technology component.  HASF
shared Hope's facility and was authorized under Hope's charter for
one year, and HASF operations were incorporated in the fiscal 2013
audit.  As of the 2013/2014 academic year, HASF does not operate
in Hope's facility or within Hope's charter contract. No HASF
operations are included in the fiscal 2014 or future financial
statements.


HOUSTON REGIONAL: Sports Network Is in Chapter 11 Officially
------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Comcast Corp. finally carried the day when the
bankruptcy judge in Houston granted the involuntary Chapter 11
petition filed in September against Houston Regional Sports
Network LP.

According to the report, the Houston Rockets, one of the owners of
the sports network, wanted no bankruptcy.  Comcast, also one of
the owners of the network, has stated its willingness to be the
lead bidder at an auction. The network previously said there are
"significant negotiations" with "at least one other party" in
addition to Comcast.

The Houston network is a joint venture among Comcast, the
Houston Rockets, and the Houston Astros professional baseball
club.  The Astros joined Philadelphia-based Comcast in urging the
court to put the network into Chapter 11, the report related.

               About Houston Regional Sports Network

An involuntary Chapter 11 bankruptcy petition was filed against
Houston Regional Sports Network, L.P. d/b/a Comcast SportsNet
Houston (Bankr. S.D. Tex. Case No. 13-35998) on Sept. 27, 2013.

The involuntary filing was launched by three units of Comcast/NBC
Universal and a television-related company.  The petitioners are:
Houston SportsNet Finance LLC, Comcast Sports Management Services
LLC, National Digital Television Center LLC, and Comcast SportsNet
California, LLC.

The petitioning creditors have filed papers asking the Bankruptcy
Judge to appoint an independent Chapter 11 trustee "to conduct a
fair and open auction process for the Network's business assets on
a going concern basis."

Houston Regional Sports Network is a joint enterprise among
affiliates of the Houston Astros baseball team, the Houston
Rockets basketball team, and Houston SportsNet Holdings, LLC --
"Comcast Owner" -- an affiliate of Comcast Corporation.  The
Network has three limited partners -- Comcast Owner, Rockets
Partner, L.P., and Astros HRSN LP Holdings LLC.  The primary
purpose of Houston Regional Sports Network is to create and
operate a regional sports programming service that produces,
exhibits, and distributes sports programming on a full-time basis,
including live Astros and Rockets games within the league-
permitted local territories.

Counsel for the petitioning creditors are Howard M. Shapiro, Esq.,
at Wilmer Cutler Pickering Hale and Dorr LLP; George W. Shuster,
Jr., Esq., at Wilmer Cutler Pickering Hale and Dorr LLP; Vincent
P. Slusher, Esq., at DLA Piper; and Arthur J. Burke, Esq., at
Davis Polk & Wardwell LLP.

Judge Marvin Isgur presides over the case.


HOVNANIAN ENTERPRISES: BlackRock Holds 8.8% of Class A Shares
-------------------------------------------------------------
BlackRock, Inc., disclosed in an amended Schedule 13G filed with
the U.S. Securities and Exchange Commission, that as of Dec. 31,
2013, it beneficially owned 10,996,974 shares of Class A common
stock of Hovnanian Enterprises Inc. representing 8.8 percent of
the shares outstanding.  A copy of the regulatory filing is
available for free at:

                        http://is.gd/0HaiAT

                     About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

Hovnanian Enterprises posted net income of $31.29 million on $1.85
billion of total revenues for the year ended Oct. 31, 2013, as
compared with a net loss of $66.19 million on $1.48 billion of
total revenues during the prior year.

As of Oct. 31, 2013, the Company had $1.75 billion in total
assets, $2.19 billion in total liabilities and a $432.79 million
total deficit.

                           *     *     *

As reported by the Troubled Company Reporter on April 25, 2013,
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Hovnanian Enterprises Inc. to 'B-' from 'CCC+'.
"The upgrade reflects strengthening operating performance
supported by the broader recovery in the housing market that, we
believe, should support modest profitability in 2013," said
Standard & Poor's credit analyst George Skoufis.

In the Dec. 9, 2013, edition of the TCR, Fitch Ratings upgraded
the Issuer Default Rating (IDR) of Hovnanian Enterprises to 'B-'
from 'CCC'.  The upgrade and the Stable Outlook reflects HOV's
operating performance year-to-date (YTD), adequate liquidity
position, and moderately better prospects for the housing sector
during the remainder of this year and in 2014.

As reported by the TCR on Jan. 9, 2014, Moody's Investors Service
raised the Corporate Family Rating of Hovnanian Enterprises, Inc.,
to B3 from Caa1.  The upgrade of the Corporate Family Rating to B3
reflects Hovnanian's improved financial performance including
improvement in interest coverage to slightly above 1x and finally
turning net income positive for the fiscal year 2013.


HOVNANIAN ENTERPRISES: Ara Hovnanian Owns 60% of Class B Shares
---------------------------------------------------------------
Ara K. Hovnanian disclosed in an amended Schedule 13D filed with
the U.S. Securities and Exchange Commission that as of Jan. 2,
2014, he beneficially owned 9,604,873 shares of Class B common
stock, $.01 par value per share, of Hovnanian Enterprises, Inc.,
representing 60 percent of Class B Stock.  The percentage is based
upon 14,805,405 shares of Class B Common Stock outstanding as of
Jan. 14, 2014, plus (for purposes of computing that percentage)
the shares of Class B Common Stock underlying those options.  A
copy of the regulatory filing is available for free at:

                        http://is.gd/KdRQ1V

In a separate filing, Ara K. Hovnanian reported beneficial
ownership of 20,518,502 shares of Class A common stock, $.01 par
value per share, of Hovnanian Enterprises, Inc., representing 15.3
percent of the Class A common stock as of Jan. 2, 2014.  A copy of
the regulatory filing is available for free at http://is.gd/bUBrBG

                   About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

Hovnanian Enterprises posted net income of $31.29 million on $1.85
billion of total revenues for the year ended Oct. 31, 2013, as
compared with a net loss of $66.19 million on $1.48 billion of
total revenues during the prior year.

As of Oct. 31, 2013, the Company had $1.75 billion in total
assets, $2.19 billion in total liabilities and a $432.79 million
total deficit.

                           *     *     *

As reported by the Troubled Company Reporter on April 25, 2013,
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Hovnanian Enterprises Inc. to 'B-' from 'CCC+'.
"The upgrade reflects strengthening operating performance
supported by the broader recovery in the housing market that, we
believe, should support modest profitability in 2013," said
Standard & Poor's credit analyst George Skoufis.

In the Dec. 9, 2013, edition of the TCR, Fitch Ratings upgraded
the Issuer Default Rating (IDR) of Hovnanian Enterprises to 'B-'
from 'CCC'.  The upgrade and the Stable Outlook reflects HOV's
operating performance year-to-date (YTD), adequate liquidity
position, and moderately better prospects for the housing sector
during the remainder of this year and in 2014.

As reported by the TCR on Jan. 9, 2014, Moody's Investors Service
raised the Corporate Family Rating of Hovnanian Enterprises, Inc.,
to B3 from Caa1.  The upgrade of the Corporate Family Rating to B3
reflects Hovnanian's improved financial performance including
improvement in interest coverage to slightly above 1x and finally
turning net income positive for the fiscal year 2013.


ILLINOIS INSTITUTE: Fitch Affirms BB Rating on $189MM Rev. Bonds
----------------------------------------------------------------
Fitch Ratings has affirmed the 'BB-' rating on approximately
$189.3 million of outstanding Illinois Finance Authority revenue
bonds issued on behalf of Illinois Institute of Technology (IIT,
or the institute).

The Rating Outlook is Stable.

SECURITY

Revenue bonds are a general obligation of IIT.  Additionally,
IIT's series 2009 revenue bonds are secured by a cash-funded debt
service reserve.

KEY RATING DRIVERS

OPERATING IMPROVEMENT MAINTAINED: In fiscal 2013, IIT continued
its recent trend of recording positive operating results, as the
institute had a 0.3% GAAP-based operating margin (including
endowment distribution).  While this is below the fiscal 2012
margin of positive 1.6%, it is IIT's second consecutive gain
following several years of operating deficits.

MANAGEABLE DEBT BURDEN: Improved operations have enabled IIT to
cover pro forma maximum annual debt service (MADS) from net
operating income by over 1.5x for each of the past three fiscal
years; 1.6x in fiscal 2013.  Moreover, its debt burden remains
manageable, with MADS consuming a moderate 6.1% of fiscal 2013
unrestricted operating revenues.

WEAK, BUT IMPROVING FINANCIAL CUSHION: IIT's balance sheet cushion
remains weak, characterized by limited balance sheet resources
relative to operations and debt.  However, growth in available
funds, driven in part by favorable investment returns and ongoing,
planned reductions in its annual endowment draw resulted in
improved liquidity metrics for fiscal 2013.

STEADY STUDENT DEMAND: The institute has a solid track record of
generating stable student demand over the past several years, with
growth in undergraduate enrollment offsetting recent softening in
graduate program demand, notably law; which Fitch notes is
consistent with national trends.

RATING SENSITIVITIES

SUSTAINED OPERATING IMPROVEMENT: Sustained improvement in IIT's
operating performance driven by recently favorable undergraduate
and graduate enrollment trends could yield upward rating pressure.

BALANCE SHEET CUSHION: Despite a still weak balance sheet cushion,
steady improvement in liquidity metrics, coupled with annual
breakeven to positive operating results, could provide further
rating momentum.

CREDIT PROFILE

IIT is a private, technical engineering institute established in
1940.  Located in Chicago, Illinois, IIT operates five campuses in
the Chicagoland marketplace with its main campus located four
miles from downtown Chicago.  Fall 2013 headcount of 7,850
students and full-time equivalent (FTE) enrollment of 7,423 are up
2.2% and 3%, respectively, from fall 2012.  Growth in
undergraduate enrollment had offset softening in graduate program
demand over the past few years, although graduate enrollment
ticked up again in fall 2013.  However, IIT's law school, which
makes up about 13% of total enrollment, continues to experience
enrollment declines, which Fitch notes is consistent with national
trends.  To date, management notes that undergraduate and graduate
applications for fall 2014 are trending favorably to the prior
year, indicating continued overall enrollment stability going into
fiscal 2015.

Operating Improvement Maintained

IIT maintained its recent operating improvement in fiscal 2013,
posting a positive 0.3% operating margin.  While this is just
above breakeven and below the prior year's level, it is IIT's
second consecutive year with an operating surplus following
several years of deficits.  Operating stability continued to be
driven by management's multi-year financial turnaround plan that
has focused on various cost containment and revenue enhancement
initiatives.  Similar to many other private institutions, IIT's
largest revenue source is student-generated revenue (57.3% of
fiscal 2013 operating revenues), although it also benefits from
grant and contract revenues which provide a modest level of
revenue diversity.

Operating losses from prior years led IIT to rely more heavily on
its endowment and to draw in excess of its stated endowment payout
policy.  However, the expense controls and revenue enhancement
initiatives implemented over the past few fiscal years enabled IIT
to annually reduce its endowment payout, with no excess draw
needed since fiscal 2011; a factor viewed favorably by Fitch.  Its
total endowment draw declined to $10.7 million in fiscal 2013 from
$13 million in fiscal 2012 and $15.6 million in fiscal 2011.  The
fiscal 2014 draw is similar to the fiscal 2013 level at about
$11.1 million, which is in line with the institute's 5% spending
policy and considered a sustainable level by Fitch.

Management's continued focus on conservative budgeting and
financial planning are anticipated to yield another breakeven to
slightly positive result for fiscal 2014. Based on unaudited
interim results as of December 31, 2013 and favorable enrollment
patterns, Fitch believes management's budget assumptions are
realistic.  Maintenance of at least a breakeven level of operating
performance coupled with balance sheet liquidity remaining at or
above current levels, could result in upward rating potential.

While IIT's participation in the U.S. Department of Education's
(DOE) Student Financial Assistance (SFA) programs remains on
provisional status, it was relieved of additional procedural and
reporting requirements in 2013.  This follows its release in 2012
from a requirement to post a letter of credit supporting a portion
of its annual SFA volume, both of which Fitch views positively and
indicates IIT's operating improvement.  Based on its financial
performance to date, IIT anticipates the provisional status will
be lifted following the close of fiscal 2014; which would mark the
third consecutive year of meeting DOE financial metric thresholds.
Fitch will continue to monitor IIT's status, but believes its
expectations are reasonable based on recent enrollment trends and
operating results. Importantly, Fitch notes that IIT's provisional
status has not adversely impacted demand or students access to
federal aid.

Manageable Debt Burden

IIT's debt burden remains manageable, with MADS of approximately
$16.2 million (fiscal 2024) consuming a moderate 6.1% of fiscal
2013 unrestricted operating revenues of $266.5 million (including
endowment distribution).  MADS includes about $1.5 million of debt
service associated with IIT's research subsidiary, IITRI, that is
non-recourse to the institute.  IIT's lack of additional debt
plans should serve to keep its debt burden manageable going
forward. Moreover, as a result of its improved operating
performance, IIT produced MADS coverage from net operating income
of over 1.5x for each of the past three fiscal years; 1.6x in
fiscal 2013.  Fitch notes that IIT's leverage metrics as measured
by burden and coverage compare favorably to those of other private
colleges and universities similarly rated by Fitch.

Weak, But Improving Financial Cushion

One of Fitch's key credit concerns remains IIT's weak balance
sheet cushion.  However, despite fluctuating over the past few
years, available funds (defined as cash and investments not
permanently restricted) improved to $26.8 million as of May 31,
2013 from negative $2.3 million as of May 31, 2012.  While
available funds still only covered fiscal 2013 expenses and
outstanding debt by a very low 10.1% and 12.4%, respectively,
these metrics are the highest recorded in several years.
Available funds improved further to $28.9 million as of Dec. 31,
2013 (unaudited).

IIT's ongoing fundraising campaign raised approximately $150
million to date towards its $250 million goal. Of the amount
raised, about two-thirds have been collected. The campaign runs
through 2016.  A portion of campaign proceeds are expected to
augment IIT's endowment, as well as fund certain capital
expenditures.  This should alleviate the need for any additional
borrowing, which is viewed positively as Fitch does not believe
IIT has any further debt capacity at the current rating level.


INTELLICELL BIOSCIENCES: Hanover No Longer a Shareholder
--------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Hanover Holdings I, LLC, and Joshua Sason
disclosed that as of Dec. 31, 2013, they did not beneficially own
shares of common stock of Intellicell Biosciences, Inc.  Hanover
and Mr. Sason previously held 8,500,000 common shares or 9.93
percent equity stake as of May 21, 2013.  A copy of the regulatory
filing is available for free at http://is.gd/OExbyC

                  About Intellicell Biosciences

Intellicell BioSciences, Inc., headquartered in New York, N.Y.,
was formed on Aug. 13, 2010, under the name "Regen Biosciences,
Inc." as a pioneering regenerative medicine company to develop and
commercialize regenerative medical technologies in large markets
with unmet clinical needs.  On Feb. 17, 2011, the company changed
its name from "Regen Biosciences, Inc." to "IntelliCell
BioSciences Inc".  To date, IntelliCell has developed proprietary
technologies that allow for the efficient and reproducible
separation of stromal vascular fraction (branded
"IntelliCell(TM)") containing adipose stem cells that can be
performed in tissue processing centers and in doctors' offices.

Intellicell disclosed a net loss of $4.15 million on $534,942 of
revenues for the year ended Dec. 31, 2012, as compared with a net
loss of $32.83 million on $99,192 of revenues during the prior
year.  The Company's balance sheet at June 30, 2013, showed $3.70
million in total assets, $10.57 million in total liabilities and a
$6.86 million total stockholders' deficit.

Rosen Seymour Shapss Martin & Company LLP stated in their report
that the Company's financial statements for the fiscal years ended
Dec. 31, 2012, and 2011, were prepared assuming that the Company
would continue as a going concern.  The Company's ability to
continue as a going concern is an issue raised as a result of the
Company's recurring losses from operations and its net capital
deficiency.  The Company continues to experience net operating
losses.  The Company's ability to continue as a going concern is
subject to its ability to generate a profit.


INTELLIPHARMACEUTICS INT'L: Sabby Healthcare's Stake Down to 1.02%
------------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Sabby Healthcare Volatility Master Fund,
Ltd., Sabby Management, LLC, and Hal Mintz disclosed that as of
Dec. 31, 2013, they beneficially owned 217,500 shares of common
stock of Intellipharmaceutics International Inc. representing 1.02
percent of the shares outstanding.  Sabby previously reported
beneficial ownership of 1,256,000 common shares or 5.92 percent
equity stake as of July 26, 2013.  A copy of the regulatory filing
is available for free at http://is.gd/iqWXVf

                     About Intellipharmaceutics

Toronto, Canada-based Intellipharmaceutics International Inc. is
incorporated under the laws of Canada.  Intellipharmaceutics is a
pharmaceutical company specializing in the research, development
and manufacture of novel and generic controlled-release and
targeted-release oral solid dosage drugs.  Its patented
Hypermatrix(TM) technology is a multidimensional controlled-
release drug delivery platform that can be applied to the
efficient development of a wide range of existing and new
pharmaceuticals.  Based on this technology, Intellipharmaceutics
has a pipeline of product candidates in various stages of
development, including filings with the FDA in therapeutic areas
that include neurology, cardiovascular, gastrointestinal tract,
diabetes and pain.

The Company's balance sheet at Aug. 31, 2013, showed $4.11 million
in total assets, $5.49 million in total liabilities and a $1.37
million shareholders' deficiency.

                     Going Concern Uncertainty

"In order for the Company to continue operations at existing
levels, the Company expects that for at least the next twelve
months the Company will require significant additional capital.
While the Company expects to satisfy its operating cash
requirements over the next twelve months from cash on hand,
collection of anticipated revenues resulting from future
commercialization activities, development agreements or marketing
license agreements, through managing operating expense levels,
funds from senior management through the convertible debenture
described elsewhere herein, equity and/or debt financings, and/or
new strategic partnership agreements funding some or all costs of
development, there can be no assurance that the Company will be
able to obtain any such capital on terms or in amounts sufficient
to meet its needs or at all," the Company said in its quarterly
report for the period ended May 31, 2013.


INTERNATIONAL LEASE: Fitch to Rate Delos Finance SARL Loan 'BB'
---------------------------------------------------------------
Fitch Ratings has assigned a 'BB' expected rating to the proposed
secured term loan facility issued by Delos Finance SARL (Delos).
Delos is a wholly owned, indirect subsidiary of International
Lease Finance Corp. (ILFC).  The rating has been placed on Rating
Watch Positive, consistent with ILFC's long-term Issuer Default
Rating (IDR).

Key Rating Drivers

The debt is secured via a pledge of stock of Delos and related
affiliates and is guaranteed by ILFC on a senior unsecured basis.
The rating on the new facility is not notched above ILFC's IDR due
to the lack of a perfected first priority claim on aircraft
provided to support repayment of the term loan.  Furthermore,
there is a risk of substantive consolidation of Delos and related
affiliates in the event of an ILFC bankruptcy.

The general structure and terms of the new term loan are similar
to the $750 million senior secured term loan issued by Flying
Fortress, Inc. (another wholly owned subsidiary of ILFC), which
also carries a 'BB'/Rating Watch Positive rating.  In both of
these facilities, the lenders have a perfected first lien on stock
of certain ILFC subsidiaries as opposed to the aircraft owned by
the subsidiaries.  This type of structure is attractive for ILFC
as it benefits from greater operational flexibility with respect
to the encumbered aircraft.

Fitch notes that the aircraft collateral in the Delos transaction
is expected to be more favorable than the aircraft collateral in
the Flying Fortress, Inc. transaction.  Based on the estimated
value of the aircraft, the loan-to-value (LTV) for this
transaction is expected to be 62%, depending on the size of the
term loan.  The borrower will be required to maintain a maximum
70% LTV on an ongoing, quarterly basis or repay the loan or
provide additional aircraft to meet the test.  Structural
protection also includes aircraft and lessee concentration limits
and appropriate restrictions on the borrower and related
affiliates to create liens and to sell aircraft.

The proposed term loan will not have any financial covenants, with
the exception of an LTV covenant.  Fitch expects the debt issuance
to have a relatively limited impact on ILFC's leverage, with the
adjusted debt-to-equity ratio increasing by 15 - 20 basis points,
depending on the size of the issuance. Impact on interest coverage
metrics is expected to be very limited.

Rating Sensitivites

In December 2013, Fitch placed ILFC's ratings on Rating Watch
Positive, following the announcement that AerCap Holdings N.V.
(AerCap; 'BBB-'/Rating Watch Negative) had entered into a
definitive agreement to acquire ILFC from American International
Group.  Fitch expects to resolve the Rating Watch Positive once
the acquisition is completed, which is expected to be in the
second quarter of 2014.  Assuming the transaction is consummated
on the agreed-upon terms, and absent material credit developments
in the interim, the outcome is expected to result in a one-notch
upgrade of ILFC's long-term IDR and senior unsecured debt.
AerCap's 'BBB-' IDR has been placed on Rating Watch Negative and
is expected to be downgraded by one notch to 'BB+' at the time of
the transaction's close.  Thus, Fitch's expectation is that the
ratings of the two entities will ultimately be equalized.

Assuming the acquisition is consummated, Fitch believes positive
rating momentum is possible over the longer term if AerCap
executes on the plan it has outlined.  More specifically,
successful integration of ILFC's fleet and staff, a reduction of
balance sheet leverage as outlined by the company, maintenance of
robust liquidity and improvement in the fleet profile are viewed
as positive rating drivers.  Positive rating momentum could stall
if AerCap runs into any meaningful integration issues, if
dividends or share repurchase activity are reinstituted before
deleveraging plans are completed, or if there is a material
downturn in the aviation sector, which negatively impacts its
business.

Downside risks to AerCap's and ILFC's ratings will be elevated
until the acquisition is integrated and leverage is reduced.
Negative rating actions could result from significant integration
issues, loss of key airline relationships, deterioration in
financial performance and/or operating cash flows, higher than
expected repossession activity and/or difficulty re-leasing
aircraft at economical rates.  Longer term, aggressive capital
management, a reduction in available liquidity or inability to
maintain or improve the fleet profile could also lead to negative
rating pressure.

Failure by AerCap to obtain any of the necessary amendments and
covenants on ILFC's credit facilities on reasonably economic terms
could adversely impact the combined entity's credit profile.  This
also applies to any other contractual agreements of ILFC that have
Change of Control or similar provisions.

Fitch believes there could be negative rating pressure on ILFC's
ratings if the acquisition does not close. The Rating Outlook for
ILFC's was Negative before the acquisition was announced as a
result of ownership uncertainty. Unless an alternative ownership
solution with comparable benefits coincides with any termination
of the AerCap transaction, uncertainty regarding the company's
future strategic direction would likely result in ILFC's ratings
being removed from Rating Watch Positive and, at a minimum,
returned to Rating Outlook Negative where they were previously.

Fitch has assigned the following expected rating:

Delos Finance SARL

-- Proposed senior secured term loan 'BB, Rating Watch Positive'.

Fitch currently rates ILFC and its related subsidiaries as
follows:

International Lease Finance Corp.

-- Long-term IDR 'BB', Rating Watch Positive;
-- Senior unsecured debt 'BB', Rating Watch Positive;
-- $3.9 billion senior secured notes at 'BBB-'.
-- Preferred stock 'B', Rating Watch Positive.

Flying Fortress Inc.

-- Senior secured debt 'BB', Rating Watch Positive.

ILFC E-Capital Trust I

--Preferred stock 'B', Rating Watch Positive.

ILFC E-Capital Trust II

-- Preferred stock 'B', Rating Watch Positive.


KEMET CORP: BlackRock Stake at 6.2% as of Dec. 31
-------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, BlackRock, Inc., disclosed that as of
Dec. 31, 2013, it beneficially owned 2,800,440 shares of common
stock of Kemet Corp representing 6.2 percent of the shares
outstanding.  A copy of the regulatory filing is available for
free at http://is.gd/GZh2vb

                          About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

The Company's balance sheet at Sept. 30, 2013, showed $880.21
million in total assets, $642.30 million in total liabilities and
$237.90 million in total stockholders' equity.

KEMET Corp disclosed a net loss of $82.18 million on $842.95
million of net sales for the fiscal year ended March 31, 2013, as
compared with net income of $6.69 million on $984.83 million of
net sales for the year ended March 31, 2012.  For the six months
ended Sept. 30, 2013, the Company incurred a net loss of $48.23
million on $415.46 million.

                            *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to Caa1
from B2 and the Probability of Default Rating to Caa1-PD from B2-
PD based on Moody's expectation that KEMET's liquidity will be
pressured by maturing liabilities and negative free cash flow due
to the interest burden and continued operating losses at the Film
and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on Simpsonville,
S.C.-based KEMET Corp. to 'B-' from 'B+'.

"The downgrade is based on continued top-line and margin pressures
and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.


KEMET CORP: Morgan Stanley Stake at 8.5% as of Dec. 31
------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Morgan Stanley and Morgan Stanley Capital
Services LLC disclosed that as of Dec. 31, 2013, they beneficially
owned 3,843,938 shares of common stock of Kemet Corp. representing
8.5 percent of the shares outstanding.  A copy of the regulatory
filing is available for free at http://is.gd/FbAyT0

                             About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

The Company's balance sheet at Sept. 30, 2013, showed $880.21
million in total assets, $642.30 million in total liabilities and
$237.90 million in total stockholders' equity.

KEMET Corp disclosed a net loss of $82.18 million on $842.95
million of net sales for the fiscal year ended March 31, 2013, as
compared with net income of $6.69 million on $984.83 million of
net sales for the year ended March 31, 2012.  For the six months
ended Sept. 30, 2013, the Company incurred a net loss of $48.23
million on $415.46 million.

                            *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to Caa1
from B2 and the Probability of Default Rating to Caa1-PD from B2-
PD based on Moody's expectation that KEMET's liquidity will be
pressured by maturing liabilities and negative free cash flow due
to the interest burden and continued operating losses at the Film
and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on Simpsonville,
S.C.-based KEMET Corp. to 'B-' from 'B+'.

"The downgrade is based on continued top-line and margin pressures
and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.


KEMET CORP: Files Form 10-Q, Incurs $5.8MM Net Loss in Q3 2014
--------------------------------------------------------------
Kemet Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $5.82 million on $207.33 million of net sales for the quarter
ended Dec. 31, 2013, as compared with a net loss of $14.25 million
on $197.69 million of net sales for the same period during the
prior year.

For the nine months ended Dec. 31, 2013, the Company incurred a
net loss of $54.05 million on $617.84 million of net sales as
compared with a net loss of $56.93 million on $624.36 million of
net sales for the same period last year.

The Company's balance sheet at Dec. 31, 2013, showed $862.32
million in total assets, $624.49 million in total liabilities and
$237.82 million in total stockholders' equity.

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

                        http://is.gd/uNEI7c

                            About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

KEMET Corp disclosed a net loss of $82.18 million on $842.95
million of net sales for the fiscal year ended March 31, 2013, as
compared with net income of $6.69 million on $984.83 million of
net sales for the year ended March 31, 2012.  For the six months
ended Sept. 30, 2013, the Company incurred a net loss of $48.23
million on $415.46 million.

                            *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to Caa1
from B2 and the Probability of Default Rating to Caa1-PD from B2-
PD based on Moody's expectation that KEMET's liquidity will be
pressured by maturing liabilities and negative free cash flow due
to the interest burden and continued operating losses at the Film
and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on Simpsonville,
S.C.-based KEMET Corp. to 'B-' from 'B+'.

"The downgrade is based on continued top-line and margin pressures
and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.


LE CENTER, MN: Moody's Affirms 'B1' Rating on $6.6MM Debt
---------------------------------------------------------
Moody's Investors Service has affirmed the B1 rating on the City
of Le Center's (MN) general obligation debt. The B1 rating applies
to $6.6 million of outstanding general obligation unlimited tax
debt. The city has $11.4 million of total outstanding general
obligation debt. The negative outlook has been removed.

Summary Rating Rationale

Debt service is secured by the city's general obligation unlimited
tax pledge. The B1 rating reflects the city's heavy reliance on
cash flow borrowing to fund ongoing operations, including
regularly-scheduled general obligation debt service payments;
limited financial flexibility; narrow cash balances though
sizeable cash overdrafts remain in several funds; multiple years
of aggressive budgeting assumptions and annual operating deficits;
a small, limited tax base that has experienced significant
valuation declines; and a high debt burden.

The removal of the negative outlook reflects our view that the
city's recently adopted formal method of issuing short-term cash
flow notes provides a greater cushion for the city to repay debt
in a timely fashion. The city also adopted a formal long-term
financial management plan to regain financial stability and add to
reserves. Removal of the negative outlook also reflects audited
financial statements for fiscal 2012, and estimated financial
results for fiscal 2013, both of which show modest operating
surpluses.

Strengths

-- County seat, and within commuting distance (less than 30
    miles) to employment opportunities in Mankato (GO rated Aa2),
    home Minnesota State Colleges & Universities (revenue rated
    Aa2/stable) of Mankato campus.

-- Recent development of certain long term financial management
    practices

Challenges

-- Extremely narrow liquidity and limited financial flexibility,
    with a reliance on short term bank loans to fund General
    Obligation debt service and ongoing operations

-- Historically weak practices related to overall fiscal
    management and operations

-- Small tax base; significant valuation declines appear to be
    moderating

-- City is now subject to state operating levy limits, as
    population now exceeds 2,500

-- Very high percentage of budget devoted to fixed debt service
    costs

What Could Make The Rating Go UP

-- Demonstrated progress toward rebuilding fund balance and
    liquidity levels

-- A sustained discontinuation of reliance on cash flow
    borrowing for operations and debt service payments

-- Material increase in tax base valuation

What Could Make The Rating Go DOWN

-- Weakening of the city's overall economic condition or further
    declines in valuation

-- Continued operating deficits that further reduce already
    narrow liquidity

-- Increased reliance on cash flow borrowing for operations or
    debt service

-- Inability to make debt service payments on time and in full

Rating Methodology

The principal methodology used in this rating was US Local
Government General Obligation Debt published in January 2014.


LEHMAN BROTHERS: SIPA Trustee Begins Sale of Pools of Securities
----------------------------------------------------------------
James W. Giddens, Trustee for the liquidation of Lehman Brothers
Inc. under the Securities Investor Protection Act, in keeping with
his statutory duty and ongoing focus of maximizing the value of
the LBI general estate, along with his counsel at Hughes Hubbard &
Reed LLP, continues to implement a strategy to liquidate
securities and raise cash for distributions to customers and
general creditors.

With the advice and consent of the Securities Investor Protection
Corporation and in consultation with advisors to major creditor
constituencies, the Trustee retained Miller Buckfire & Co., LLC
and Stifel Fixed Income to help sell all remaining securities.

In October, Miller Buckfire and Stifel Fixed Income began selling
individual securities at the market and through four weekly
auctions designed to maximize proceeds to the LBI estate.  Through
2013 year-end, settled proceeds from securities in this portfolio
total approximately $200 million ("Phase 1"), with approximately
$80 million of additional proceeds settling in 2014.  The Phase 1
process is now complete.

Miller Buckfire and Stifel Fixed Income will now begin a process
where pools of securities are sold through several rounds of
auctions.  The pool based marketing process will be competitive,
transparent, and designed to maximize value for the LBI estate.

Miller Buckfire/Stifel will introduce multiple pools of securities
to the market at the same time.  The first pools of securities to
be sold are listed in Exhibit A.  Winners will be announced the
Monday following the close of the auction period.

Bidders will bid on the entire pool.  All securities will be
delivered to the winning bidder.  Securities will be delivered to
the winning bidder as quickly as the satisfaction of potential
administrative issues allow.  The Trustee, Miller Buckfire and
Stifel make no representation as to the transferability or ability
to register sold securities in a specific timeframe.

    A list of the pool's securities will be made publicly
available at the beginning of each auction period, the duration of
which will be two or three weeks depending on the pool.

    The pools will have reserve prices set at the discretion of
the Trustee and Miller Buckfire/ Stifel.

The commencement of the pooled auctions and composition of the
pools may be adjusted from time to time.

Media Contact for the Trustee:

     Jake Sargent
     Tel: 202-569-5086
     E-mail: jsargent@apcoworldwide.com

THE SECURITIES SOLD IN ANY AUCTION HAVE NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
"ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO,
OR FOR THE BENEFIT OF, U.S. PERSONS ABSENT REGISTRATION UNDER, OR
AN APPLICABLE EXEMPTION FROM, THE REGISTRATION REQUIREMENTS OF THE
ACT AND APPLICABLE STATE SECURITIES LAW.  THIS PRESS RELEASE DOES
NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO
BUY THE AUCTION SECURITIES, AND SHALL NOT CONSTITUTE AN OFFER,
SOLICITATION OR SALE IN ANY JURISDICTION IN WHICH, OR TO ANY
PERSONS TO WHOM, SUCH OFFERING, SOLICITATION OR SALE WOULD BE
UNLAWFUL.

     Pool                         Dates
     ----                         -----
Structured Products    Tuesday, February 18 - Friday, February 28
Municipal Bonds        Tuesday, February 18 - Friday, February 28
Lehman Paper           Tuesday, February 18 - Friday, February 28
Bankruptcy Escrows     Monday, March 3 - Friday, March 21
Corporate Bonds        Monday, March 3 - Friday, March 21
Preferred Equities     Monday, March 3 - Friday, March 21

                       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).


LIFE CARE: SOLIC Replaces Navigant as Financial Advisor
-------------------------------------------------------
Life Care St. Johns, Inc., dba Glenmoor, sought and obtained
permission from the U.S. Bankruptcy Court for the Middle District
of Florida to employ SOLIC Capital Advisors LLC as financial
advisor, nunc pro tunc to Jan. 1, 2014.

On Aug. 30, 2013, the Court entered an order authorizing the
employment of Navigant Capital Advisors, LLC as the Debtor's
financial advisors nunc pro tunc to the petition date.  The
Navigant professionals who have been providing advisory services
to the Debtor have recently left Navigant to form SOLIC.  As the
Debtor requires the continued assistance of such professionals as
Debtor prepares to exit this Chapter 11 case, it is necessary that
an order approving the employment of SOLIC be entered.

As noted in the Navigant Engagement Order, based upon agreement
the Navigant Engagement Agreement, which has been assigned to
SOLIC, was modified pursuant to the Navigant Engagement Order as
follows:

   -- The jurisdiction and venue of any suit, action, or other
      proceeding arising out of the Navigant Engagement Agreement
      shall be the U.S. Bankruptcy Court for the Middle District
      of Florida;

   -- The scope of services provided by SOLIC will be limited to
      the Capital Restructuring Services set forth in Section 1.A.
      of the Navigant Engagement Agreement, the Operational
      Assessment Services set forth in Section 1.B.1 of the
      Navigant Engagement Agreement and the Bankruptcy Support
      Services set forth in Section 1.C. of the Navigant
      Engagement Agreement, other than Section 1.C.5.;

   -- The amount of the Monthly Fee will be $115,000 per month
      which will be deemed to include and cover the scope of
      services set forth in paragraph 3.b.; and

   -- Sections 1.B.2 and 1.C.5 of the Navigant Engagement
      Agreement are deleted in their entirety.

The Debtor will pay to SOLIC, upon the confirmation of the Plan, a
closing reconciliation fee upon the closing of a Restructuring
equal to 0.75% of the total bond debt of the Debtor.

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

Prior to the petition date, Navigant was paid a retainer that is
currently held by Navigant in the amount of $150,000 from the
Debtor.  The fund will be transferred to SOLIC upon receipt of
amounts currently owed to Navigant for services rendered prior to
the effective date at which time SOLIC will then hold the retainer
in respect of any services it may in the future provide to Debtor.

Neil F. Luria, senior managing director of SOLIC, 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.

SOLIC can be reached at:

       Neil F. Luria
       SOLIC CAPITAL ADVISORS, LLC
       1603 Orrington Avenue, Ste. 1600
       Evanston, IL 60201
       Tel: (216) 321-5606
       E-mail: nluria@soliccapital.com

                   About Life Care St. Johns

Life Care St. Johns, Inc., filed a Chapter 11 petition (Bankr.
M.D. Fla. Case No. 13-04158) on July 3, 2013.  The Debtor is the
owner and operator of a continuing care retirement community known
as Glenmoor consisting of 144 independent living units located on
a 40-acre site in St. Johns County, Florida.

Judge Jerry A. Funk presides over the case.  Richard R. Thames,
Esq., and Eric N. McKay, Esq., at Stutsman Thames & Markey, P.A.,
serves as the Debtor's counsel.  American Legal Claim Services,
LLC, serves as claims and noticing agent.

The Committee of Creditors Holding Unsecured Claims appointed in
the bankruptcy case of Life Care St. Johns, Inc., is represented
by Akerman Senterfitt's David E. Otero, Esq., and Christian P.
George, Esq., in Jacksonville, Florida.

Bruce Jones signed the petition as CEO.  The Debtor estimated
assets of at least $10 million and debts of at least $50 million.


LIFE CARE: Court OKs Hiring of Bryant Miller as Bond Counsel
------------------------------------------------------------
Life Care St. Johns, Inc., dba Glenmoor, sought and obtained
authorization from the Hon. Jerry A. Funk of the U.S. Bankruptcy
Court for the Middle District of Florida to employ Gregory K. West
and Judson Freeman, Jr. of Bryant Miller Olive, P.A. as special
bond counsel.

The Debtor requires Bryant Miller to:

   (a) assist the Debtor with submission of an application for
       conduit bond issuance;

   (b) prepare a resolution under which the 2014 Bonds will be
       issued, and related financing documents and instruments;

   (c) attend meetings to the extent required;

   (d) provide notice and conduct a TEFRA hearing concerning the
       2014 Bonds;

   (e) perform real estate work in connection with the 2014 Bonds;

   (f) supervise of the closing of the transaction and delivery of
       the 2014 Bonds to the purchaser;

   (g) deliver an opinion, including a tax opinion, related to the
       2014 Bonds;

   (h) provide other services as are necessary for the
       authorization, issuance and delivery of the 2014 Bonds; or

   (i) provide other services as may be required for another form
       of exit financing.

Bryant Miller will be paid at these hourly rates:

       Gregory K. West               $400
       Judson Freeman, Jr.           $400
       Legal Counsel               $225-$400
       Paraprofessional            $100-$125

Bryant Miller will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Gregory K. West, member of Bryant Miller, 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.

Bryant Miller can be reached at:

       Gregory K. West, Esq.
       BRYANT MILLER OLIVE, P.A.
       111 Riverside Avenue, Suite 200
       Jacksonville, FL 32202
       Tel: (904) 652-0784
       Fax: (904) 388-2986
       E-mail: gwest@bmolaw.com

                   About Life Care St. Johns

Life Care St. Johns, Inc., filed a Chapter 11 petition (Bankr.
M.D. Fla. Case No. 13-04158) on July 3, 2013.  The Debtor is the
owner and operator of a continuing care retirement community known
as Glenmoor consisting of 144 independent living units located on
a 40-acre site in St. Johns County, Florida.

Judge Jerry A. Funk presides over the case.  Richard R. Thames,
Esq., and Eric N. McKay, Esq., at Stutsman Thames & Markey, P.A.,
serves as the Debtor's counsel.  American Legal Claim Services,
LLC, serves as claims and noticing agent.  The Debtor hired
Navigant Capital Advisors, LLC, as financial advisors.  Following
Neil F. Luria's transfer to SOLIC Capital Advisors LLC, the Debtor
replaced Navigant with SOLIC.

The Committee of Creditors Holding Unsecured Claims appointed in
the bankruptcy case of Life Care St. Johns, Inc., is represented
by Akerman Senterfitt's David E. Otero, Esq., and Christian P.
George, Esq., in Jacksonville, Florida.

Bruce Jones signed the petition as CEO.  The Debtor estimated
assets of at least $10 million and debts of at least $50 million.


LIGHTSQUARED INC: Approved for New $33 Million Secured Loan
-----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that LightSquared Inc., the developer of a satellite-based
wireless communications system, was cleared by the bankruptcy
judge on Feb. 4 to take down a $33 million loan from a group
including a company affiliated with Charles Ergen, the chairman of
Dish Networks Corp.

According to the report, LightSquared is in litigation with Ergen,
based on claims he wasn't entitled to purchase company debt
because he's a competitor.

                      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.


LIQUIDMETAL TECHNOLOGIES: Amends 102MM Shares Resale Prospectus
---------------------------------------------------------------
Liquidmetal Technologies, Inc., amended its Form S-1 registration
statement relating to the resale of up to 102,024,643 shares of
the Company's common stock, $0.001 par value per share, 96,555,893
of which may be offered from time to time by Kingsbrook
Opportunities Master Fund LP, Tech Opportunities LLC, and Iroquois
Master Fund Ltd., holders of shares of the common stock issued and
issuable pursuant to the Common Stock Purchase Agreement, dated
Nov. 8, 2013.  The remaining 5,468,750 of the shares may be
offered from time to time by Empery Asset Master Ltd. and Hartz
Capital Investments, LLC, holders of shares of the Company's
common stock issuable upon the exercise of the common stock
purchase warrants issued by the Company in a private placement by
the Company that closed on July 2, 2012.

The Company amended the registration statement to delay its
effective.

The Company will not receive any proceeds from the sale of these
shares by the selling stockholders, however, the Company may
receive (i) gross proceeds of up to $20 million from the sale of
its common stock to the Selling Stockholders pursuant to the 2013
Purchase Agreement and (ii) proceeds from the 2012 Selling
Stockholders upon their exercise of the Warrants, which Warrants
have an exercise price equal to $0.384 per share.

The Company's common stock is currently quoted on the OTC Bulletin
Board under the symbol "LQMT."  On Jan. 27, 2014, the last
reported sales price of the Company's common stock was $0.39 per
share.

A copy of the Form S-1/A is available for free at:

                        http://is.gd/6lhteJ

                    About Liquidmetal Technologies

Based in Rancho Santa Margarita, Cal., Liquidmetal Technologies,
Inc., and its subsidiaries are in the business of developing,
manufacturing, and marketing products made from amorphous alloys.
Liquidmetal Technologies markets and sells Liquidmetal(R) alloy
industrial coatings and also manufactures, markets and sells
products and components from bulk Liquidmetal alloys that can be
incorporated into the finished goods of its customers across a
variety of industries.  The Company also partners with third-
party licensees and distributors to develop and commercialize
Liquidmetal alloy products.

Liquidmetal incurred a net loss of $14.02 in 2012, as compared
with net income of $6.15 million in 2011.  As of June 30, 2013,
the Company had $6.06 million in total assets, $4.62 million in
total liabilities and $1.44 million in total shareholders' equity.

SingerLewak LLP, in Los Angeles, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has suffered recurring losses from operations and
has an accumulated deficit, which raises substantial doubt about
the Company's ability to continue as a going concern.


LOMBARD, IL: S&P Cuts ICR to B & Debt Certificates Rating to B-
---------------------------------------------------------------
Standard & Poor's Rating Services said that it lowered its issuer
credit rating (ICR) on Lombard, Ill. to 'B' from 'BBB' and lowered
its rating on the village's debt certificates to 'B-' from 'BBB-',
based on S&P's local GO criteria released Sept. 12, 2013.  The
outlook is stable.

"The downgrade reflects a recent non-appropriation that triggered
a payment default for revenue bonds issued by the Lombard Public
Facilities Corp. (LPFC)," said Standard & Poor's credit analyst
John Kenward.

The certificates are secured by the village's pledge to pay debt
service from legally available funds, and are not subject to
annual appropriation.  S&P rates them one notch below the ICR
because of their limited security.

Standard & Poor's also affirmed its 'D' rating on LPFC's series
2005B revenue bonds, which defaulted in January 2014.  The outlook
is not meaningful.

"The 'B' rating reflects our view of very weak management,
stemming from a lack of willingness to support appropriation
debt," said Mr. Kenward.  In December 2013, the village's board
voted to not appropriate funds to pay debt service on the LPFC's
series 2005B revenue bonds, pursuant to a tax rebate agreement.
As a result, the bonds defaulted on Jan. 2, 2014.  The village's
board had previously voted in December 2011, and in every May and
December since, to not replenish a reserve fund for the LPFC's
series 2005A revenue bonds pursuant to the same tax rebate
agreement.

S&P understands that although the village recently hired a new
manager, its board remains intact, and the village has not made
any specific policy changes in response to the default on the
bonds.  S&P's view is that the city's financial management is
otherwise strong, with good financial policies and practices in
place.  However, S&P is likely to continue to assess the city's
overall management as very weak until, in S&P's opinion, the city
no longer exhibits an unwillingness to support appropriation debt
in a full and timely manner.

The rating also reflects S&P's view of the city's:

   -- Very strong economy, with participation in the broad and
      diverse Chicago metropolitan area economy;

   -- Very strong budget flexibility;

   -- Adequate budget performance;

   -- Adequate liquidity to cover both GO debt service and
      expenditures; and

   -- Adequate debt and contingent liability profile.

"The stable outlook reflects our view of Lombard's recent
unwillingness to support its appropriation commitments," said Mr.
Kenward, "and as a consequence, its very weak management."  S&P do
not expect to change the rating in the next two years given that
the act of nonappropriation in the case of the series 2005A bonds
has been ongoing since December 2011 and the nonappropriation for
series 2005B debt service occurred in December 2013.  However, if
the village continues to retain otherwise adequate credit
characteristics, and if comprehensive debt policies are adopted
and adhered to, the rating may improve over the long term.


MCCLATCHY CO: Morgan Stanley Holds 7.7% of Class A Shares
---------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Morgan Stanley and Morgan Stanley Capital
Services LLC disclosed that as of Dec. 31, 2013, they beneficially
owned 4,767,112 Class A common stock of McClatchy Co representing
7.7 percent of the Class A shares outstanding.  Morgan Stanley
previously reported beneficial ownership of 5,516,303 Class A
shares as of Dec. 31, 2012.  A copy of the regulatory filing is
available for free at http://is.gd/OoFP8i

                      About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is the third largest newspaper
company in the United States, publishing 30 daily newspapers, 43
non-dailies, and direct marketing and direct mail operations.
McClatchy also operates leading local Web sites in each of its
markets which extend its audience reach.  The Web sites offer
users comprehensive news and information, advertising, e-commerce
and other services.  Together with its newspapers and direct
marketing products, these interactive operations make McClatchy
the leading local media company in each of its premium high growth
markets.  McClatchy-owned newspapers include The Miami Herald, The
Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City
Star, The Charlotte Observer, and The News & Observer (Raleigh).

The McClatchy incurred a net loss of $144,000 in 2012, as compared
with net income of $54.38 million in 2011.  The Company's balance
sheet at Sept. 29, 2013, showed $2.60 billion in total assets,
$2.54 billion in total liabilities and $60.25 million in
stockholders' equity.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

McClatchy Co. carries a 'B-' Corporate Credit Rating from
Standard & Poor's Ratings Services.


MCCLATCHY CO: Lonestar Partners Owns 5.3% of Class A Shares
-----------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, Lonestar Partners, L.P., and its affiliates disclosed
that as of Jan. 27, 2014, they beneficially owned 3,250,000 shares
of Class A common stock, par value $0.01 per share, of The
McClatchy Company representing 5.3 percent of the A Shares
outstanding.  A copy of the regulatory filing is available for
free at http://is.gd/P8tN9n

                   About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is the third largest newspaper
company in the United States, publishing 30 daily newspapers, 43
non-dailies, and direct marketing and direct mail operations.
McClatchy also operates leading local Web sites in each of its
markets which extend its audience reach.  The Web sites offer
users comprehensive news and information, advertising, e-commerce
and other services.  Together with its newspapers and direct
marketing products, these interactive operations make McClatchy
the leading local media company in each of its premium high growth
markets.  McClatchy-owned newspapers include The Miami Herald, The
Sacramento Bee, the Fort Worth Star-Telegram, The Kansas City
Star, The Charlotte Observer, and The News & Observer (Raleigh).

The McClatchy incurred a net loss of $144,000 in 2012, as compared
with net income of $54.38 million in 2011.  The Company's balance
sheet at Sept. 29, 2013, showed $2.60 billion in total assets,
$2.54 billion in total liabilities and $60.25 million in
stockholders' equity.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

McClatchy Co. carries a 'B-' Corporate Credit Rating from
Standard & Poor's Ratings Services.


MDM OF LAKELAND: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: MDM of Lakeland, P.A.
           dba Highlands Dental
        701 S. Howard Ave., Ste 106-386
        Tampa, FL 33606

Case No.: 14-01546

Chapter 11 Petition Date: February 12, 2014

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

Debtor's Counsel: Alberto F Gomez, Jr, Esq.
                  JOHNSON POPE BOKOR RUPPEL & BURNS, LLP
                  403 East Madison Street, Suite 400
                  Tampa, FL 33602
                  Tel: 813-225-2500
                  Fax: 813-223-7118
                  Email: al@jpfirm.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jeffrey A. Martin, president.

The Debtor did not file a list of its largest unsecured creditors
when it filed the petition.


MEDIA GENERAL: Provides Information on New Young Broadcasting
-------------------------------------------------------------
Media General, Inc., filed a current report on Form 8-K with the
U.S. Securities and Exchange Commission for the purpose of
presenting New Young Broadcasting Holding Co., Inc.'s Business
description, selected financial data, management's discussion and
analysis of financial condition and results of operations and
consolidated financial statements, as well as risk factors, pro
forma financial statements and information regarding management,
in connection with the consummation on Nov. 12, 2013.  The Merger
Agreement provides for a business combination of Media General and
Young.

New Young Broadcasting Co., Inc., through its direct subsidiary,
Young Broadcasting, LLC, and its other indirect subsidiaries, is
the operator of, or service provider to, 13 television stations in
11 geographically diverse markets across the United States,
reaching approximately six percent of U.S. television households.
Six of the 13 stations are affiliated with ABC, four are
affiliated with CBS, one is affiliated with FOX, one is affiliated
with NBC, one is affiliated with MyNetworkTV, and two of the
stations also have either a CW Plus or MyNetworkTV affiliation for
a multicast channel.

* Business of Young

   http://is.gd/x51B8Y

* Management's Discussion and Analysis of Financial Condition
   and Results of Operations

   http://is.gd/wybJRQ

* Financial Statements of Young

   http://is.gd/xyEdSJ

* Unaudited Pro Forma Condensed Combined Financial Information
   of Media General

   http://is.gd/nc2jKn

* Selected Historical Consolidated Financial Data of Young

   http://is.gd/sX50ZT

  * Risk Factors

    http://is.gd/SsCt4Y

  * Directors and Executive Officers

    http://is.gd/OWIXsC

                        About Media General

Richmond, Virginia-based Media General Inc. (NYSE: MEG) --
http://www.mediageneral.com/-- is an independent communications
company with interests in newspapers, television stations and
interactive media in the United States.

The Company's balance sheet at Sept. 30, 2013, showed
$749.87 million in total assets, $967.06 million in total
liabilities, and a $217.18 million in total stockholders' deficit.

                           *     *     *

As reported by the Troubled Company Report on July 10, 2013,
Moody's Investors Service upgraded Media General, Inc.'s Corporate
Family Rating to B1 from Caa1 reflecting the marked improvement in
credit metrics pro forma for the pending stock merger with New
Young Broadcasting Holding Co., Inc.

In the July 12, 2013, edition of the TCR, Standard & Poor's
Ratings Services raised its corporate credit rating on Richmond,
Va.-based local TV broadcaster Media General Inc. to 'B+' from
'B'.  "The rating action reflects the improvement in discretionary
cash flow from the refinancing and our expectation that trailing-
eight-quarter leverage will remain at 6x or below over the
intermediate term," said Standard & Poor's credit analyst Daniel
Haines.


MEDIA GENERAL: Registers 58.5 Million Shares for Resale
-------------------------------------------------------
Media General, Inc., filed a Form S-3 registration statement
to register 58,539,217 shares of voting common stock for resale by
Deutsche Bank AG New York Branch, NexPoint Credit Strategies Fund,
Highland Floating Rate Opportunties Fund, et al.

The Company will bear all costs, expenses and fees in connection
with the registration of the selling stockholders' Voting Common
Stock.  The selling stockholders will pay all commissions and
discounts, if any, attributable to the sale or disposition of
their Voting Common Stock.

The Company's Voting Common Stock is listed on the New York Stock
Exchange under the symbol "MEG."  On Jan. 28, 2014, the closing
price of the Company's Voting Common Stock was $17.49.  The
offering price per share of Voting Common Stock will be determined
from time to time by the selling stockholders in connection with,
and at the time of, any particular sale.

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

                        http://is.gd/IXraXC

                        About Media General

Richmond, Virginia-based Media General Inc. (NYSE: MEG) --
http://www.mediageneral.com/-- is an independent communications
company with interests in newspapers, television stations and
interactive media in the United States.

The Company's balance sheet at Sept. 30, 2013, showed
$749.87 million in total assets, $967.06 million in total
liabilities, and a $217.18 million in total stockholders' deficit.

                           *     *     *

As reported by the Troubled Company Report on July 10, 2013,
Moody's Investors Service upgraded Media General, Inc.'s Corporate
Family Rating to B1 from Caa1 reflecting the marked improvement in
credit metrics pro forma for the pending stock merger with New
Young Broadcasting Holding Co., Inc.

In the July 12, 2013, edition of the TCR, Standard & Poor's
Ratings Services raised its corporate credit rating on Richmond,
Va.-based local TV broadcaster Media General Inc. to 'B+' from
'B'.  "The rating action reflects the improvement in discretionary
cash flow from the refinancing and our expectation that trailing-
eight-quarter leverage will remain at 6x or below over the
intermediate term," said Standard & Poor's credit analyst Daniel
Haines.


MEDIA GENERAL: Eaton Vance Stake at 8.69% as of Dec. 31
-------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, Eaton Vance Management disclosed that as of Dec. 31,
2013, it beneficially owned 7,682,650 shares of common stock of
Media General Inc. representing 8.69 percent of the shares
outstanding.  A copy of the regulatory filing is available for
free at http://is.gd/KgacTx

                         About Media General

Richmond, Virginia-based Media General Inc. (NYSE: MEG) --
http://www.mediageneral.com/-- is an independent communications
company with interests in newspapers, television stations and
interactive media in the United States.

The Company's balance sheet at Sept. 30, 2013, showed
$749.87 million in total assets, $967.06 million in total
liabilities, and a $217.18 million in total stockholders' deficit.

                           *     *     *

As reported by the Troubled Company Report on July 10, 2013,
Moody's Investors Service upgraded Media General, Inc.'s Corporate
Family Rating to B1 from Caa1 reflecting the marked improvement in
credit metrics pro forma for the pending stock merger with New
Young Broadcasting Holding Co., Inc.

In the July 12, 2013, edition of the TCR, Standard & Poor's
Ratings Services raised its corporate credit rating on Richmond,
Va.-based local TV broadcaster Media General Inc. to 'B+' from
'B'.  "The rating action reflects the improvement in discretionary
cash flow from the refinancing and our expectation that trailing-
eight-quarter leverage will remain at 6x or below over the
intermediate term," said Standard & Poor's credit analyst Daniel
Haines.


MF GLOBAL: Corzine Opposes Shutting Down Computers
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Jon Corzine, the former chairman of MF Global
Holdings Ltd., is opposing an effort to decommission the computers
of its defunct futures brokerage in October.

According to the report, last month, James Giddens, the trustee
for brokerage MF Global Inc., scheduled a Feb. 14 hearing to seek
permission from the New York bankruptcy court to shut down the
system, now that customers are being fully paid in a liquidation
under the Securities Investor Protection Act.

Mr. Corzine, PricewaterhouseCoopers and seven other officers and
directors filed papers saying the computer system must be
maintained because Mr. Giddens can't guarantee all data will be
available in the future, the report said.

Mr. Corzine and the others are defendants in consolidated class
actions brought on behalf of MF Global customers, the report
related.  Mr. Corzine, the former co-chairman of Goldman Sachs
Group Inc. and a past governor of New Jersey, said liability could
exceed $1 billion.

Losing the data, would have a "crippling impact" on the ability to
fight the suit, he said, the report cited.

The class action is In re MF Global Holdings Ltd. Securities
Litigation, 11-cv-7866, U.S. District Court, Southern District New
York.

                        About MF Global

New York-based MF Global -- http://www.mfglobal.com/-- was one of
the world's leading brokers of commodities and listed derivatives.
MF Global provides access to more than 70 exchanges around the
world.  The firm also was one of 22 primary dealers authorized to
trade U.S. government securities with the Federal Reserve Bank of
New York.  MF Global's roots go back nearly 230 years to a sugar
brokerage on the banks of the Thames River in London.

On Oct. 31, 2011, MF Global Holdings Ltd. and MF Global Finance
USA Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y.
Case Nos. 11-15059 and 11-5058), after a planned sale to
Interactive Brokers Group collapsed.  As of Sept. 30, 2011, MF
Global had $41,046,594,000 in total assets and $39,683,915,000 in
total liabilities.

On Nov. 7, 2011, the United States Trustee appointed the statutory
creditors' committee in the Debtors' cases.  At the behest of the
Statutory Creditor's Committee, the Court directed the U.S.
Trustee to appoint a chapter 11 trustee.  On Nov. 28, 2011, the
Bankruptcy Court entered an order approving the appointment of
Louis J. Freeh, Esq., of Freeh Group International Solutions, LLC,
as Chapter 11 trustee.

On Dec. 19, 2011, MF Global Capital LLC, MF Global Market Services
LLC and MF Global FX Clear LLC filed voluntary Chapter 11
petitions (Bankr. S.D.N.Y. Case Nos. 11-15808, 11-15809 and
11-15810).  On Dec. 27, the Court entered an order installing Mr.
Freeh as Chapter 11 Trustee of the New Debtors.

On March 2, 2012, MF Global Holdings USA Inc. filed a voluntary
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 12-10863), and Mr.
Freeh also was installed as its Chapter 11 Trustee.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J. Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric
Ivester, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve
as bankruptcy counsel.  The Garden City Group, Inc., serves as
claims and noticing agent.  The petition was signed by Bradley I.
Abelow, Executive Vice President and Chief Executive Officer of MF
Global Finance USA Inc.

The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan
LLP, as investigative counsel; (ii) FTI Consulting Inc., as
restructuring advisors; (iii) Morrison & Foerster LLP, as
bankruptcy counsel; and (iv) Pepper Hamilton as special counsel.

The Official Committee of Unsecured Creditors has retained
Capstone Advisory Group LLC as financial advisor, while lawyers at
Proskauer Rose LLP serve as counsel.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of
Goldman Sachs Group Inc., stepped down as chairman and chief
executive officer of MF Global just days after the bankruptcy
filing.

In April 2013, the Bankruptcy Court approved MF Global Holdings'
plan to liquidate its assets.  Bloomberg News reported that the
court-approved disclosure statement initially told
creditors with $1.134 billion in unsecured claims against the
parent holding company why they could expect a recovery of 13.4%
to 39.1% from the plan.  As a consequence of a settlement with
JPMorgan, supplemental materials informed unsecured creditors
their recovery was reduced to the range of 11.4% to 34.4%.  Bank
lenders will have the same recovery on their $1.174 billion claim
against the holding company.  As a consequence of the settlement,
the predicted recovery became 18% to 41.5% for holders of $1.19
billion in unsecured claims against the finance subsidiary,
one of the companies under the umbrella of the holding company
trustee.  Previously, the predicted recovery was 14.7% to 34% on
bank lenders' claims against the finance subsidiary.


MIDTOWN DEVELOPMENT: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Midtown Development Group, Inc.
        627 W Alexandrine, Unit 10
        Detroit, MI 48201

Case No.: 14-41985

Chapter 11 Petition Date: February 12, 2014

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Hon. Thomas J. Tucker

Debtor's Counsel: Michael D. Lieberman, Esq.
                  LIEBERMAN, GIES & COHEN, PLLC
                  30500 Northwestern Hwy., Ste. 307
                  Farmington Hills, MI 48334
                  Tel: (248) 539-5500
                  Email: mike@lgcpllc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Robert J. Slattery, president.

The Debtor did not file a list of its largest unsecured creditors
when it filed the petition.


MT LAUREL: Hires Pinnacle Advisory as Appraiser and Expert Witness
------------------------------------------------------------------
Mt. Laurel Lodging Associates LLP seeks authorization from the
U.S. Bankruptcy Court for the Southern District of Indiana to
employ Pinnacle Advisory Group as appraiser and expert witness,
nunc pro tunc to the Nov. 4, 2013 petition date.

Prior to the petition date, the Debtor retained Pinnacle to
prepare an appraisal of the Debtor's Hotel pursuant to the terms
and conditions of the engagement letter.  Also prior to the
petition date, the Debtor paid Pinnacle a flat fee in the amount
of $15,000 for the preparation of such appraisal, which did not
include the Debtor's agreement to reimburse Pinnacle for its
reasonable costs, including travel time.  For all additional work
relating to the appraisal, including testimony at depositions and
trial, the Debtor agreed to pay Pinnacle on an hourly basis.
Pinnacle's hourly rates range from $300-$400 per hour.

Pursuant to an additional engagement letter dated Dec. 2, 2013,
the Debtor and its affiliates collectively retained Pinnacle to
provide further advisory services relating to, among other things,
the value of the fixtures and personal property located within
Debtor's and its affiliate's hotels.  The Debtor requested that
Pamela McKinney from Pinnacle prepare an expert report and provide
expert testimony at a cash collateral hearing that was scheduled
for Dec. 20, 2013.  The Debtor and its affiliates collectively
agreed to pay Pinnacle $7,500, plus reimbursement of reasonable
costs, for these additional services.  In connection with these
services, Sun paid Pinnacle $3,500, thereby leaving a balance of
$4,000 plus reasonable costs.

Pursuant to an additional engagement letter dated Jan. 8, 2014,
the Debtor and its affiliates retained Pinnacle so that Pamela
McKinney could testify at the Cash Collateral Hearing.  The Debtor
and its affiliates agreed to pay Pinnacle an additional $5,000
fee, plus travel related expenses, for these additional services.

Rachel Roginsky, owner of Pinnacle, 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.

Pinnacle can be reached at:

       Rachel Roginsky
       PINNACLE ADVISORY GROUP
       164 Canal Street
       Boston, MA 02114
       Tel: (617) 722-9916
       Fax: (617) 722-9917
       E-mail: rroginsky@pinnacle-advisory.com

                    About Mt. Laurel Lodging

Mt. Laurel Lodging Associates, LLP, and its six affiliates sought
protection under Chapter 11 of the Bankruptcy Code on Nov. 4, 2013
(Case No. 13-bk-11697, Bankr. S.D. Ind.).  The case is assigned to
Judge Robyn L. Moberly.  The petition lists the assets and debt as
both exceeding $10 million on the Mount Laurel property.

The Debtors are represented by Brian A Audette, Esq., and David M
Neff, Esq., at Perkins Coie LLP, in Chicago, Illinois; and Andrew
T. Kight, Esq., and Michael P. O'Neil, Esq., at Taft Stettinius &
Hollister LLP, in Indianapolis, Indiana.

The National Republic Bank of Chicago, a secured creditor, is
represented by James E. Carlberg, Esq., and James P. Moloy, Esq.,
at Bose McKinney & Evans LLP, in Indianapolis, Indiana; and
Timothy P. Duggan, Esq., at Stark & Stark, P.C., in Lawrenceville,
New Jersey.


MONTREAL MAINE: Judge Approves Increase to Bankruptcy Loan
----------------------------------------------------------
Jacqueline Palank, writing for The Wall Street Journal, reported
that Montreal, Maine & Atlantic Railway Ltd. won court approval to
borrow more money from its bankruptcy lender pending the closing
of the sale to an affiliate of Fortress Investment Group LLC.

According to the report, court papers show Judge Louis H.
Kornreich of the U.S. Bankruptcy Court in Bangor, Maine, has
granted the railway, which operates more than 500 miles of track
in Maine, Vermont and Quebec, permission to borrow another
$750,000 from Camden National Bank.

The bank has already provided up to $3 million to fund the
railway's bankruptcy case, launched last summer following the
deadly derailment of one of its trains in Quebec, the report said.
But MM&A recently told the court that without increasing its loan,
it could run out of cash in a matter of weeks.

The extra cash will ensure MM&A keeps operating until it can close
its pending sale to the Fortress affiliate, whose $15.85 million
offer for the railway's assets has already secured the court's
approval, the report related.

MM&A is due back in court on Feb. 26 to seek approval to borrow
another $1.05 million from Camden, which would put its total
bankruptcy borrowings from the bank at $4.8 million, the report
further related.  The loan comes due Aug. 30, court papers show.

                       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.

On Jan. 23, 2014, the Debtors won authorization to sell
substantially all of their assets to Railroad Acquisition Holdings
LLC, an affiliate of New York-based Fortress Investment Group, for
$15.7 million.  The Bankruptcy Courts in the U.S. and Canada
approved the sale.

The Fortress unit is represented by Terence M. Hynes, Esq., and
Jeffrey C. Steen, Esq., at Sidley Austin LLP.

On Jan. 29, 2014, an ad hoc group of wrongful-death claimants
submitted a plan, which would give 75 percent of the $25 million
in available insurance to the families of those who died after an
unattended train derailed in Lac-Megantic, Quebec, in July.  The
other 25 percent would be earmarked for claimants seeking
compensation for property that was damaged when much of the town
burned.  Former U.S. Senator George Mitchell, a Democrat who
represented Maine in the U.S. Senate from 1980 to 1995 and who is
now chairman emeritus of law firm DLA Piper LLP, would administer
the plan and lead the effort to wrap up MM&A's Chapter 11
bankruptcy.


MUSCLEPHARM CORP: Issues Update Letter to Shareholders
------------------------------------------------------
MusclePharm Corporation issued on Jan. 29, 2014, the following
letter to shareholders from its Chairman and CEO, Brad Pyatt:

Dear Fellow Shareholders:

As we look at the growth of our company over the past year,
perhaps no three things characterize our achievements better than
strength, innovation and customer experience.

The Strength of Our Brand

Today, MusclePharm is leading the charge for the next generation
in sports nutrition.  At the same time, we are building a solid-
growth company that exceeded our revenue goal for 2013.
Preliminary results indicate we will report revenues of more than
$110 million for the year, an increase of more than 64% over 2012.

Full financial results for 2013 are expected to be reported in
March, but I am pleased to provide you with this update as we
start 2014.

The growth of our company in a relatively short period of time
reflects the strength of the MusclePharm brand and customers'
belief in the science behind our products.  We have gained the
trust of millions of consumers by offering nothing but the best
supplements on the market, backed by dedicated research and
development and strict adherence to quality control, efficacy and
safety.

MusclePharm's Scientific Advisory Board paves our path to success,
guiding the in-house quality control and scientific team comprised
of 20 scientists, pharmacists and doctors.  The Board is led by
Dr. Roscoe Moore, former Assistant U.S. Surgeon General and U.S.
Food and Drug Administration director, and Dr. Phillip Frost,
chairman of TEVA Pharmaceuticals.  TEVA is one of the world's
largest and most highly-respected generic pharmaceutical
companies.  The MP scientific team conducts Institutional Review
Board-approved clinical trials in-house at the 35,000 sq. ft.
MusclePharm Sports Science Institute.  Ongoing studies are
performed to validate for safety, efficacy and performance through
the University of North Carolina at Chapel Hill and other
universities.  Clinical write-ups of select MP products will be
published in future medical journals.  This level of commitment
sets MusclePharm apart and is why millions of customers trust the
brand.

As our brand has grown, the company's financial position also has
improved.  Today, we have a clean balance sheet, with no long-term
debt and no warrants, and we recently secured a credit line with
U.S. Bank.

As we move forward in 2014, emphasis will be on quality growth and
profitability, coupled with maintaining momentum and our
leadership position through innovation and the prudent building of
the organization.

Bringing Innovative New Products to Market

The recent successes of our women's brand FitMissTM and the iconic
Arnold SchwarzeneggerTM Series, along with continued achievements
by line extensions of our MP brand, are examples of how
MusclePharm is leading the charge for the next generation of
sports nutrition.

We are currently in more than 35,000 stores worldwide and sold in
more than 110 countries.  To help you track our progress, we will
be breaking out our business into three categories: Specialty,
International and FDM (Food, Drug, Mass).

Specialty Market: This is comprised of brick-and-mortar and
ecommerce.  We use distributors, as well as sell direct to larger
customers.  We will continue to grow this portion of our business
by offering continued line extensions, as well as leveraging our
retailers to grow new customer acquisitions within their channels.

International: This will be an area we focus on growing by
continuing to offer new products, as well as improving the supply
cycles and opening new distribution centers in select regions of
the world to improve both tariff fees, as well as shipping time.

FDM (Food, Drug, Mass):  This is a new sales channel where we will
continue to focus, namely by expanding the distribution platform
for our current line of brands and products.  In 2013, this
represented approximately 9% of our business and in 2014 FDM will
represent 15% of our business.

The diversification among our channels domestically, along with
MusclePharm's strong presence internationally, will allow us to
continue to provide top-line growth for years to come.

Furthermore, the recently-announced acquisition of what is
substantially all assets of Biozone Pharmaceuticals and its
subsidiaries gives us the ability to accelerate new product
development utilizing a state-of-the-art, science-based
organization that is focused on quality control and safety.  This
will help our sales team expand into new distribution channels
with unique and innovative products.  Without tipping our hand too
much, several new product lines that are currently in development
and will be available in the near future will contribute to the
quality of our products and aggressive-growth strategy.

Providing a One-of-a-Kind Customer Experience

Along with innovative products, we also remain focused on
providing a one-of-a-kind customer experience.  Customer
satisfaction drives our success, and with that aim, we have built
one of the strongest social communities in the industry, often
referred to as #MPNation.  We recently opened up our Social Media
& Customer Command Center in Columbus, Ohio, where our staff
provides a high-level brand experience for customers.

Popular social media contributions from Co-Founder Cory Gregory
include daily workouts, training advice and a commitment to
providing real-time feedback to our customers.  In addition, key
brand influencer partners such as Ultimate Fighting Championship
(UFC), which reaches more than 820 million households globally,
along with Arnold Schwarzenegger and football legend Colin
Kaepernick give the brand credibility and connect with millions of
potential customers.

Building the Organization

With this foundation, we took steps to build our company through
the addition of talented professionals and an enhanced sales and
marketing infrastructure, along with stronger reporting processes
and procedures.

Recently, we created divisional business leader positions and
hired industry veterans who bring decades of experience and
established relationships within the sports nutrition category.
To give them yet another advantage in marketing our products and
connecting with consumers, we are working to become the only
nutrition and supplement organization with every product batch on
the market fully certified by "Informed-Choice" -- the globally-
recognized standard that guarantees products are free of all
banned substances.

As demand for our products has grown, our need for real-time
analytics also has increased.  Accordingly, we implemented a high-
level ERP/CRM system to analyze growth trends, inventory levels
and improve sales cycles through quicker shipping.  In 2014, we
plan on launching distribution centers for the West Coast in
California and internationally in Europe, Latin America and
Western Canada.

With our rapid rate of growth, we also recognize the need to
improve internal financial controls, which will facilitate more
accurate forecasting and allow us to better monitor day-to-day
results.  An internal audit department recently was established
and now reports directly to the Audit Committee.  All areas of
internal controls, from the sales cycle to cash management, have
been reviewed internally and are being strengthened.  In addition,
the strengthening of these systems aligns with our objective of
applying for a listing on NASDAQ.

I also want you to know that as previously reported, the company
continues to provide cooperation to the Denver office of the
Securities and Exchange Commission regarding an ongoing
investigation.  It is our belief that there are no material items
that will impact our future business.

Moving forward, our strategy is to continue to drive revenue
growth and achieve profitability through margin enhancement.  To
achieve this, we established a supply chain team to analyze
incremental volume, optimize purchase pricing and evaluate product
and line extensions in sports nutrition areas that command higher
margins.  Longer-term (over the course of the next two to three
years) we plan to ramp up internal production through vertical
integration of manufacturing.  Over time, we believe these
strategic initiatives will enhance profitability and increase
margins incrementally.

In conjunction with achieving our objectives and incentivizing our
staff, we will be implementing an Employee Stock Incentive Plan
(ESOP) in 2014 that will allow us to attract and retain qualified
candidates.  We intend to create stock and option awards that
carry three- to four-year vesting periods.  This new plan will
reserve 1.5 million shares for employees, consultants and athletes
and will be subject to shareholder approval.

I look forward to continuing to report our progress to you.  On
behalf of our Board of Directors and management team, I extend
deep gratitude and thanks for your continued support.

Sincerely,

Brad Pyatt, Chairman and CEO

A full-text copy of the Letter is available for free at:

                        http://is.gd/fJD3W9

                        About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

For the nine months ended Sept. 30, 2013, the Company reported a
net loss of $13.72 million.  MusclePharm incurred a net loss of
$18.95 million in 2012, a net loss of $23.28 million in 2011, and
a net loss of $19.56 million in 2010.  The Company's balance sheet
at Sept. 30, 2013, showed $41.54 million in total assets, $18.87
million in total liabilities and $22.67 million in total
stockholders' equity.


NEPHROS INC: Amends 9.1 Million Shares Prospectus
-------------------------------------------------
Nephros, Inc., amended its Form S-1 registration statement
relating to the distribution, at no charge, to holders of the
Company's common stock or warrants, non-transferable subscription
rights to purchase up to 9,166,667 shares of the Company's common
stock.  Each non-transferable subscription right will entitle
subscribers to purchase 0.28673 of a share of the Company's common
stock at a subscription price of $0.30 per share.

Subject to the satisfaction of certain conditions including
compliance with all obligations under a $1.5 million note, related
security agreement and the other transaction documents between
Lambda Investors and the Company, Lambda Investors has advised the
Company that it intends to exercise its subscription privilege in
full and, to the extent that after the closing of the rights
offering there still remain unsubscribed shares of common stock,
Lambda Investors will have the right, but not the obligation, to
purchase any or all such remaining unsubscribed shares within ten
days of the closing of the Rights Offering.

The subscription rights will expire if they are not exercised by
5:00 p.m., Eastern Time, on March 10, 2014, unless the Company
extends the subscription period in its sole discretion, but in no
event by more than 60 days from the date of this prospectus.
However, the Company's board of directors reserves the right to
cancel the rights offering at any time, for any reason.  If the
rights offering is cancelled, all subscription payments received
by the subscription agent will be returned promptly.

Shares of the Company's common stock are quoted on the OTCQB
Marketplace operated by the OTC Markets Group, Inc., or OTCQB,
under the ticker symbol "NEPH."  On Jan. 30, 2014, the closing
sales price for the Company's common stock was $0.40 per share.
The shares of common stock issued in the rights offering will also
be quoted on the OTCQB under the same ticker symbol.  The
subscription rights will not be listed for trading on any stock
exchange or market or quoted on the OTCQB.

A copy of the Form S-1/A is available for free at:

                        http://is.gd/UbElKY

                           About Nephros

River Edge, N.J.-based Nephros, Inc., is a commercial stage
medical device company that develops and sells high performance
liquid purification filters.  Its filters, which it calls
ultrafilters, are primarily used in dialysis centers and
healthcare facilities for the production of ultrapure water and
bicarbonate.

Nephros reported a net loss of $3.26 million in 2012, a net loss
of $2.36 million in 2011, and a net loss of $1.9 million in 2010.
The Company's balance sheet at Sept. 30, 2013, showed $2.55
million in total assets, $2.12 million in total liabilities
and $430,000 in total stockholders' equity.

Rothstein Kass, in Roseland, New Jersey, expressed substantial
doubt about Nephros' ability to continue as a going concern,
following its audit of the Company's financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that the
Company has incurred negative cash flow from operations and net
losses since inception.


NEW YORK CITY OPERA: Performers Celebrate 70th Anniversary
----------------------------------------------------------
Stephanie Gleason, writing for The Wall Street Journal, reported
that the repertoire for a concert celebrating "70 years of The
People's Opera," an event to honor City Opera's anniversary, was
announced on Feb. 6 -- even though City Opera has canceled its
season, filed for Chapter 11 bankruptcy, and is likely to
liquidate completely.

"Despite the fact that the Board of New York City Opera filed for
bankruptcy protection last October, the cohesive 'City Opera
Family,' the storied company's orchestral musicians and singers,
did not want the auspicious 70th Anniversary to pass without a
celebration," the company musician's union said in a press
release, the report cited.

According to the report, the event is being produced by the union
that represents the performers -- American Federation of
Musician's Local 802 -- and is scheduled for Feb. 21 at New York's
City Center, which was also the location of City Opera's first
performance, union spokesman K.C. Boyle said.  The concert will
include pieces from City Opera's first season in 1944, when Mayor
Fiorello LaGuardia gave it the "People's Opera" moniker.

This is the only reunion performance currently planned, but Mr.
Boyle said the door is open for other similar performances in the
future, the report related.

Meanwhile, New York City Opera's Chapter 11 case is continuing,
the report said.  Most recently, the opera has requested
permission to reject the lease agreement for its thrift store
located at 220 E. 23rd St. in New York.

                    About New York City Opera

New York City Opera, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D.N.Y. Case No. 13-13240) on Oct. 3, 2013, estimating
between $1 million and $10 million in both assets and debt.

The petition was signed by George Steel, general manager and
artistic director.  Kenneth A. Rosen, Esq., at Lowenstein Sandler
LLP, serves as the opera's counsel.  Ewenstein Young & Roth LLP
serves as special counsel.


NEWLEAD HOLDINGS: MG Partners Stake at 8.93% as of Dec. 31
----------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, MG Partners Limited and its affiliates
disclosed that as of Dec. 31, 2013, they beneficially owned
2,990,608 shares of common stock of NewLead Holdings Ltd.
representing 8.93 percent of the shares outstanding.  MG Partners
previously reported beneficial ownership of 5,250,000 common
shares shares or 9.92% equity stake as of Dec. 2, 2013.  A copy of
the regulatory filing is available for free at http://is.gd/HmMrzZ

                      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.


NEXEO SOLUTIONS: Moody's Likely to Cut CFR to 'B' Over Leverage
---------------------------------------------------------------
Nexeo Solutions, LLC's proposed $170 million term loan add-on will
facilitate the $125 million proposed acquisition of Archway Sales,
Inc. (Archway; announced February 11, 2013) and reduce revolver
borrowings. Nexeo's announcement of the acquisition comes one day
after Moody's rated the incremental term loan and revised Nexeo's
outlook to negative. Nexeo's elevated leverage, weak margins
(EBITDA margins below 4%) and willingness to undertake additional
acquisitions triggered Moody's move to a negative outlook. If by
the end of 2014, Nexeo does not reduce leverage back below 6.0
times (pro forma for Archway) and increase EBITDA margins to 4%,
Moody's would likely lower the company's Corporate Family Rating
to B3.

Nexeo is one of the largest distributors of chemicals and
providers of related services in North America, where it sources
over 80% of its revenues. The company also has operations in
Europe and China. The company distributes chemicals, plastics and
composites and provides environmental services (only 3% of
revenue). Private equity firm TPG Capital purchased Ashland Inc.'s
distribution business in an leveraged buyout transaction for $972
million to form Nexeo in 2011. Nexeo had revenues of $4.4 billion
for the year ending September 30, 2013.


NII HOLDINGS: Prudential Stake at 10.5% as of Jan. 29
-----------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission on Jan. 29, 2014, Prudential Financial, Inc.,
disclosed that it beneficially owned 18,017,593 shares of common
stock of NII Holdings Inc. representing 10.5 percent of the shares
outstanding.  A copy of the regulatory filing is available for
free at http://is.gd/pm4eUt

                         About NII Holdings

With headquarters in Reston, Virginia, NII Holdings is an
international wireless operator with more than 7 million largely
post-pay, business subscribers.

                            *    *    *

As reported by the TCR on Jan. 14, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating on Reston, Va.-based
wireless service provider NII Holdings Inc. (NII) to 'CCC+' from
'B-'.  "The downgrade is based on NII's weak operating and
financial performance and our view that the company's financial
commitments may be unsustainable over the next few years, although
liquidity should remain 'adequate' in 2014," said Standard &
Poor's credit analyst Allyn Arden.

In the Feb. 8, 2013, edition of the TCR, Moody's Investors Service
downgraded the corporate family rating of NII Holdings Inc. to B2
from B1.  The downgrade reflects Moody's expectations that the
company's operating performance will remain weak for longer than
originally expected due primarily to delays in deploying a 3G
network. Increasing price competition and depreciating local
currencies are exacerbating NII's challenges.


NORD RESOURCES: Extends Maturity of Convertible Note to July 18
---------------------------------------------------------------
Nord Resources Corporation has entered into an amended agreement
with Ronnie Moss, effective as of Jan. 17, 2014, and executed on
Feb. 3, 2014.  The Noteholder held a convertible promissory note
dated July 18, 2013, to evidence the Company's promise to repay
the Mr. Moss in the principal amount of $28,914.

The Note accrues interest at 20 percent per annum, and was to have
matured on the earlier of: Jan. 18, 2014, and 30 days after
receipt by the Noteholder of notice of the closing of a financing
transaction by the Company for gross proceeds in excess of
US$20,000,000.  Pursuant to the Amended Agreement, the Note has
been extended to mature on the earlier of July 18, 2014, and 30
days after receipt by the Noteholder of notice of the closing of a
financing transaction by the Company for gross proceeds in excess
of US$20,000,000.

A copy of the Amended and Restated Convertible Promissory Note is
available for free at http://is.gd/5MyOI9

                       About Nord Resources

Based in Tuczon, Arizona, Nord Resources Corporation
(TSX:NRD/OTCBB:NRDS.OB) -- http://www.nordresources.com/-- is a
copper mining company whose primary asset is the Johnson Camp
Mine, located approximately 65 miles east of Tucson, Arizona.
Nord commenced mining new ore in February 2009.

On June 2, 2010, Nord Resources appointed FTI Consulting to advise
on refinancing structures and strategic alternatives.

Nord Resources disclosed a net loss of $10.25 million on $8.14
million of net sales for the year ended Dec. 31, 2012, as compared
with a net loss of $10.31 million on $14.48 million of net sales
in 2011.  The Company's balance sheet at Sept. 30, 2013, showed
$49.02 million in total assets, $73.40 million in total
liabilities and a $24.38 million total stockholders' deficit.

"The results for 2012 continued to reflect the effects of the
measures that Nord implemented beginning in July 2010 to reduce
our costs, maximize cash flow, and improve operating
efficiencies," said Wayne Morrison, chief executive and chief
financial officer.

Mayer Hoffman McCann P.C., in Denver, Colorado, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company reported net losses of ($10,254,344) and
($10,316,294) during the years ended Dec. 31, 2012, and 2011,
respectively.  In addition, as of Dec. 31, 2012 and 2011, the
Company reported a deficit in net working capital of ($57,999,677)
and ($51,783,180), respectively.  The Company's significant
historical operating losses, lack of liquidity, and inability to
make the requisite principal and interest payments due under the
terms of the Amended and Restated Credit Agreement with its senior
lender raise substantial doubt about its ability to continue as a
going concern.

                        Bankruptcy Warning

"The Company's continuation as a going concern is dependent upon
its ability to refinance the obligations under the Credit
Agreement with Nedbank, the Copper Hedge Agreement with Nedbank
Capital, and the note payable with Fisher, thereby curing the
current state of default under the respective agreements.  Any
actions by Nedbank, Nedbank Capital or Fisher Industries to
enforce their respective rights could force us into bankruptcy or
liquidation," according to the Company's annual report for the
year ended Dec. 31, 2012.


NORMAN REGIONAL: S&P Ups Rating on 2005/2002 Rev Bonds From 'BB+'
-----------------------------------------------------------------
Standard & Poor's Ratings Services raised its rating on Norman
Regional Hospital Authority (NRHA), Okla.'s series 2007 revenue
and refunding bonds and series 2005 and 2002 revenue bonds, issued
for Norman Regional Health System, one notch to 'BBB-' from 'BB+'.
The outlook is stable.

The upgrade reflects Standard & Poor's assessment of several years
of the system's sustained and improved operating performance after
a period of volatility, coupled with better-than-expected fiscal
2013 operating results and an improved balance sheet with
unrestricted reserves that are more consistent with the higher
rating and the system's leading market share in the primary
service area.  In S&P's view, the destruction of NRHA's Moore
Hospital due to a tornado in May 2013 has had a minimal financial
effect on the system due to management's ability to navigate this
challenge, demonstrated by its continued stable financial
performance despite the interruption of business and good
insurance recovery.  Standard & Poor's view of NRHA reflects its
underlying operational performance and the effect of the tornado
on the system.

"We could lower the rating if unrestricted reserves were to
decrease such that reserves as a percent of long-term debt were to
decrease below 50% and operational performance were to deteriorate
such that it resulted in less than 2x debt service coverage," said
Standard & Poor's credit analyst Margaret McNamara.  "Although
unlikely due to the light unrestricted cash to long term debt
ratio and moderately high leverage, we could raise the rating if
unrestricted reserves were to improve significantly such that
unrestricted reserves to long term debt were in excess of 1x and
margins were better than 2%."

The stable outlook reflects Standard & Poor's opinion of the
authority's improved liquidity, stable operating performance
despite current challenges, and solid business position.


OPENLINK INT'L: Moody's Keeps 'B1' Rating on Repriced Term Loan
---------------------------------------------------------------
Moody's Investors Service said there will be no change to OpenLink
International, Inc.'s ratings or stable rating outlook following
the launch of its 1st lien term loan repricing, including the B1
rating assigned to the senior secured 1st lien revolving credit
facility due 2016 and senior secured 1st lien term loan due 2017.

OpenLink is refinancing its existing term loan to reduce its
interest expense.

Rating Rationale

OpenLink International, Inc. is the parent company of OpenLink
Financial, LLC ("OpenLink"), a provider of energy and commodity
trading and risk management software owned by affiliates of
Hellman & Friedman LLC. Moody's expects 2014 revenues of over $330
million.


OPTIM ENERGY: Proposes $115-Mil. of DIP Financing From Parent
-------------------------------------------------------------
Optim Energy, LLC, and its affiliates seek approval from the
bankruptcy court to use cash collateral and enter into a $115
million new-money, revolving, priming senior-secured credit
facility with Cascade Investment, L.L.C., Optim Energy's ultimate
parent company.

ECJV Holdings, LLC, who, with Cascade, has a first priority
secured interest in substantially all of the Debtors' assets,
consent to the Debtors' use of cash collateral to fund their
operations during the pendency of the Chapter 11 cases.

Based on financial projections and liquidity constraints, the
Debtors concluded that cash on hand alone would be insufficient to
fund the Debtors' operations and business plan throughout the
pendency of these chapter 11 cases.

Because Cascade and ECJV had first priority liens on virtually all
of the Debtors' assets, the Debtors, through their independent
directors, requested Cascade to provide a DIP Financing Proposal
in December 2013.  Cascade and ECJV objected to any third party
DIP Financing that would prime their existing liens and submitted
their own DIP Financing proposal.

The Debtors and Cascade/ECJV, represented by separate advisors,
engaged in significant good faith and arm's-length negotiations on
DIP financing with these terms:

   Borrower:         Optim Energy, LLC

   Guarantors:       Debtor-affiliates

   Lenders:          Cascade, as the initial lender, and other
                     financial institutions, if any, to be
                     determined by Cascade.

   Administrative
   Agent:            Wells Fargo.

   L/C Issuer:       Wells Fargo.


   Borrowing:        $75 million under the DIP Facility upon
                     interim approval and up to $115 million on a
                     final basis, which will include (a) a $56
                     million letter of credit sub-facility
                     to replace existing letters of credit or to
                     provide credit support for certain critical
                     vendors ($41 million of which shall be used
                     to replace prepetition letters of credit
                     only), and (b) a $25 million letter of credit
                     sub-facility to support the hedging and
                     trading of safe-harbored energy contracts.

   Interest Rate:    Drawn Amounts: LIBOR + 500 bps per annum
                     (actual/360).

                     Letters of Credit: LIBOR + 500 bps per annum
                     (actual/360).

                     Default Interest: The per annum interest rate
                     at all times equal to (i) the sum of (A) the
                     interest rate otherwise applicable to the
                     loan as set forth in the DIP Credit Agreement
                     plus (B) 2.0% per annum or (ii) the "maximum
                     rate" during the continuance of an Event of
                     Default.

    Maturity:        Earlier of (a) 12 months after the Petition
                     Date or 15 months if the extension option
                     is exercised, (b) the effective date of a
                     chapter 11 plan of reorganization of any of
                     the Debtors, and (c) the date that the DIP
                     Facility is accelerated.

    Milestones:      Optim Energy is required to perform each
                     action within the time periods set forth:

                     * As soon as practicable, but in any event
                     within the 90 days immediately following the
                     Petition Date, either (i) executing a sale
                     agreement with a stalking horse bidder
                     relating to the sale of, at a minimum, Twin
                     Oaks or substantially all of Twin Oaks'
                     assets, and filing a sale motion and bidding
                     procedures motion relating to such sale with
                     the Bankruptcy Court, or (ii) filing a
                     bidding procedures motion and an auction sale
                     motion with the Bankruptcy Court to implement
                     bidding procedures for a sale of Twin Oaks or
                     substantially all of Twin Oaks' assets
                     without a stalking horse bidder;

                      * Within 120 days of the Petition Date,
                     obtain entry of a bidding procedures order
                     from the Bankruptcy Court approving bidding
                     procedures for a sale of Twin Oaks
                     or substantially all of Twin Oaks' assets;

                     * Within 150 days of the Petition Date,
                     obtain Bankruptcy Court approval of a sale of
                     Twin Oaks or substantially all of Twin Oaks'
                     assets, to the extent a successful bidder has
                     been selected;

                     * 6 months from the Petition Date, Optim
                     Energy must deliver to the Lender either (a)
                     A draft plan of reorganization and disclosure
                     statement, in each case acceptable to the
                     Lender in its reasonable discretion or (b) a
                     proposal for the sale of any or all of the
                     equity in or assets of any or all of the
                     Debtors acceptable to the Lender in its
                     reasonable discretion;

                     * 8 months from the Petition Date, Optim
                     Energy must file the Plan and the Disclosure
                     Statement or the Sale Proposal with the
                     Bankruptcy Court; and

                     * 12 months from the Petition Date -- Optim
                     Energy must obtain confirmation by the
                     Bankruptcy Court of the Plan and attain the
                     effective date thereof or consummate
                     the sale contemplated by the Sale Proposal;
                     provided however, that if the Plan or the
                     sale proposal has been filed, and the
                     "extension option" has been elected, this
                     Milestone deadline will be 15 months.

                           Interim Order

Optim Energy on Feb. 12 obtained interim approval of its request
to use cash collateral and access DIP financing.  The final
hearing on the motion has not yet been set.  A copy of the interim
order is available for free at:

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

                        About Optim Energy

Optim Energy, LLC, and its affiliates are power plant owners
principally engaged in the production of energy in Texas's
deregulated energy market.  Optim owns and operates three power
plants in eastern Texas: the Twin Oaks plant in Robertson County,
Texas, the Altura Cogen plant in Harris County, Texas and the
Cedar Bayou plant in Chambers County, Texas.  The Altura and Cear
Bayou plants are fueled by natural gas, and the third is coal-
fired.

Optim Energy and its affiliates sought Chapter 11 protection from
creditors (Bankr. D. Del. Lead Case No. 14-10262) on Feb. 12,
2014.

The Debtors have tapped Bracewell & Giuliani LLP and Morris,
Nichols, Arsht & Tunnell LLP as attorneys; Protiviti Inc. as
restructuring advisors; and Prime Clerk LLC as claims agent.

The Debtors have $713 million of outstanding principal
indebtedness.


OPTIM ENERGY: Prime Clerk Okayed as Claims & Noticing Agent
-----------------------------------------------------------
Optim Energy, LLC, and its affiliated debtors won approval of
their request to tap Prime Clerk LLC to perform certain claims and
noticing functions in the Chapter 11 cases pursuant to the terms
and conditions set forth in an engagement agreement dated as of
Jan. 17, 2014.

The Debtors believe that they have at least 800 creditors and
parties-in-interest that must be given notice of developments
related to the chapter 11 cases.  With such a significant number
of parties involved, it is likely that heavy administrative
burdens will be imposed upon the Court and the Clerk of the United
States Bankruptcy Court for the District of Delaware.

Prime Clerk will follow the notice and claim procedures that
conform to the guidelines promulgated by the Clerk's Office,
section 331 of the Judicial Code or as it otherwise may be
directed by the Court.

Michael J. Frishberg, COO at Prime Clerk, attests that Prime Clerk
is a "disinterested person" as that term is defined in 11 U.S.C.
Sec. 101(14).

For its claims and noticing services, Prime Clerk will charge the
Debtors at these hourly rates:

                                    Hourly Rate
                                    -----------
     Case Manager                      $45
     Technology Consultant            $135
     Consultant                       $150
     Senior Consultant                $180
     Director                         $210

For the firm's solicitation, balloting and tabulation services,
the rates are:

                                    Hourly Rate
                                    -----------
     Solicitation Analyst             $210
     Director of Solicitation         $245

The firm will charge $0.10 per page for printing, $0.10 per page
for fax noticing and no charge for e-mail noticing.  Hosting of
the case Web site -- http://cases.primeclerk.com/optim-- is
free of charge.  For on-line claim filing services, the firm will
charge $5 per claim.

Before the Petition Date, the Debtors paid a retainer to Prime
Clerk in the amount of $50,000.

The claims agent can be reached at:

         PRIME CLERK LLC
         830 3rd Avenue, 9th Floor
         New York, NY 10022
         Attn: Shai Waisman
         Tel: (212) 257-5450
         E-mail: swaisman@primeclerk.com

                        About Optim Energy

Optim Energy, LLC, and its affiliates are power plant owners
principally engaged in the production of energy in Texas's
deregulated energy market.  Optim owns and operates three power
plants in eastern Texas: the Twin Oaks plant in Robertson County,
Texas, the Altura Cogen plant in Harris County, Texas and the
Cedar Bayou plant in Chambers County, Texas.  The Altura and Cear
Bayou plants are fueled by natural gas, and the third is coal-
fired.

Optim Energy and its affiliates sought Chapter 11 protection from
creditors (Bankr. D. Del. Lead Case No. 14-10262) on Feb. 12,
2014.

The Debtors have tapped Bracewell & Giuliani LLP and Morris,
Nichols, Arsht & Tunnell LLP as attorneys; Protiviti Inc. as
restructuring advisors; and Prime Clerk LLC as claims agent.

The Debtors have $713 million of outstanding principal
indebtedness.


OPTIM ENERGY: Case Summary & 30 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy cases:

    Debtor                                     Case No.
    ------                                     --------
    Optim Energy, LLC                          14-10262
       aka EnergyCo, LLC
    c/o Competitive Power Ventures, Inc.
    8403 Colesville Road, Suite 915
    Silver Spring, MD 20910

    Optim Energy Marketing, LLC                14-10263
       aka EnergyCo Marketing & Trading LLC
    c/o Competitive Power Ventures, Inc.
    8403 Colesville Road, Suite 915
    Silver Spring, MD 20910

    OEM 1, LLC                                 14-10264

    Optim Energy Cedar Bayou 4, LLC            14-10265

    Optim Energy Generation, LLC               14-10266

    Optim Energy Twin Oaks GP, LLC             14-10268

    Optim Energy Altura Cogen, LLC             14-10267

    Optim Energy Twin Oaks, LP                 14-10269

Type of Business: The Debtors are power plant owners principally
                  engaged in the production of energy in Texas's
                  deregulated energy market.

Chapter 11 Petition Date: February 12, 2014

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Hon. Brendan Linehan Shannon

Debtors'          BRACEWELL & GIULIANI LLP
Bankruptcy
Counsel:

Debtors'          William M. Alleman, Jr., Esq.
Co-Counsel        MORRIS, NICHOLS, ARSHT & TUNNELL LLP
                  1201 N. Market Street, 18th Floor
                  P.O. Box 1347
                  Wilmington, DE 19899-1347
                  Tel: 302-351-9168
                  Fax: 302-225-2558
                  Email: walleman@mnat.com

                     - and -

                  Robert J. Dehney, Esq.
                  MORRIS, NICHOLS, ARSHT & TUNNELL
                  1201 N. Market Street
                  P O. Box 1347
                  Wilmington, DE 19899-1347
                  Tel: (302) 658-9200
                  Fax: (302) 658-3989
                  Email: rdehney@mnat.com

                    - and -

                  Christopher M Hayes, Esq.
                  MORRIS NICHOLS ARSHT TUNNELL, LLP
                  1201 North Market Street
                  P.O. Box 1347
                  Wilmington, DE 19899-1347
                  Tel: 302-351-9346
                  Fax: 302-498-6239
                  Email: chayes@mnat.com

Debtors'          PROTIVITI INC.
Restructuring
Advisors:

Debtors'          BARCLAYS CAPITAL LLC
Financial
Advisors:

Debtors'          PRIME CLERK LLC
Claims and
Balloting
Agent:

Optim Energy's Estimated Assets: $100MM to $500MM
Optim Energy's Estimated Debts: $500MM to $1BB

Optim Marketing's Estimated Assets: $100MM to $500MM
Optim Marketing's Estimated Debts: $500MM to $1BB

The petitions were signed by Nick Rahn, chief executive officer.

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                         Nature of Claim  Claim Amount
   ------                         ---------------  ------------
Wells Fargo Bank, N.A             Bank Loan        $712,530,426
205 108th Avenue NE Ste 600
Kirkland, WA 98004
Fax: 425-450-8033

Walnut Creek Mining Company       Trade Debt         $5,446,579
3555 Farnam St
Omaha, NE 68131-3302
Fax: 254-746-7795

Cascade Investment, LLC           Guaranty Fees      $1,934,108
2365 Carillon Point
Kirkland, WA 98033
Fax: 425-803-0459

AFCO Insurance Premium Finance    Trade Debt           $936,550
4501 College Blvd
Suite 320
Shawnee Mission, KS 66211-2328
Fax: 913-663-4951

Texas Commission on               Regulatory fees      $344,999
Environmental Quality
Austin, TX 78711-3089
Fax: 512-239-0371

Allied Power Group LLC            Trade debt           $138,196

Siemens Energy, Inc.              Trade Debt           $135,115

FL Smidth Airtech, Inc.           Trade Debt           $116,625

Alstom Power, Inc.                Trade Debt            $89,247

Thorndike Landing, LLC            Trade Debt            $76,800

Reynolds Company                  Trade Debt            $69,916

ABB, Inc.                         Trade Debt            $56,856

Christensen Associates            Trade Debt            $52,777

Clyde Bergemann, Inc.             Trade Debt            $49,784

3 "B" Dozer Service               Trade Debt            $49,649

Shrieve Chemical Co               Trade Debt            $42,159

Frost Crushed Stone Co. Inc       Trade Debt            $34,718

Praxair Distribution Inc          Trade Debt            $24,515

Navasota Valley Electric
Cooperative                       Trade Debt            $23,600

Ellison Steel, Inc.               Trade Debt            $17,000

Texas Alloys and Tool Company     Trade Debt            $15,190

Headwaters Resources Inc          Trade Debt            $14,396

Firetrol Protection Systems       Trade Debt            $12,275

Chemical Lime Company             Trade Debt            $11,566

Allied Waste Services #855        Trade Debt            $11,172

Thyssen Krupp Robins, Inc.        Trade Debt            $10,642

Pentair                           Trade Debt             $9,529

Lobo Industrial Services LLC      Trade Debt             $9,061

Impact Fire Services              Trade Debt             $8,197

Motion Industries, Inc.           Trade Debt             $8,188


OPTIMUMBANK HOLDINGS: Incurs $2 Million Net Loss in 4th Quarter
---------------------------------------------------------------
OptimumBank Holdings, Inc., reported a net loss for the fourth
quarter ending Dec. 31, 2013, of approximately $2 million, or
$(.25) per basic share, compared to a net loss for the same period
last year of approximately $(2.3) million, or $(.28) per basic
share adjusted for the reverse stock split that occurred on
June 3, 2013.  The net loss for the year ending Dec. 31, 2013, was
approximately $6.8 million, or $(.84) per basic share, compared to
a net loss for the prior year of approximately $4.7 million, or
$(.60) per basic share, also adjusted for the reverse stock split.

A large portion of the net loss for the 2013 fourth quarter was a
$1.5 million cash charge for restructuring OptimumBank's long term
debt with the FHLB into shorter term debt.  Chairman Moishe Gubin
said, "This structural change will remove a major impediment to
profitability at OptimumBank.  We expect that the change will
significantly reduce funding costs and improve the Bank's net
interest income, net margin and net income."  During 2013, the
Bank's management team made consistent progress in boosting
revenues, driving down expenses and removing troubled assets.
Chairman Gubin reiterated that he is committed to unlocking the
value in the Bank's balance sheet.

For the year ending Dec. 31, 2013, the Company reduced non-
performing assets by approximately 36 percent or $10 million to a
total of $18.1 million.  Chairman Gubin noted, "We continue to
have a number of transactions in process that should further
reduce non-performing assets in 2014."  The Company's capital
ratios are below its regulatory capital requirements at
Dec. 31, 2013, with a tier one leverage capital ratio of 4.51
percent and a total risk-based capital ratio of 6.92 percent.  As
to capital, Chairman Gubin commented, "We are currently in the
process of raising capital from current and new investors and
expect to have a significant increase in capital in the first
quarter of 2014."

The Company offers a wide array of lending and retail banking
products to individuals and businesses in Broward, Miami-Dade and
Palm Beach Counties through its executive offices and three branch
offices in Broward County, Florida.

                    About OptimumBank Holdings

OptimumBank Holdings, Inc., headquartered in Fort Lauderdale,
Fla., is a one-bank holding company and owns 100 percent of
OptimumBank, a state (Florida)-chartered commercial bank.

The Company offers a wide array of lending and retail banking
products to individuals and businesses in Broward, Miami-Dade and
Palm Beach Counties through its executive offices and three branch
offices in Broward County, Florida.

Optimumbank Holdings disclosed a net loss of $4.69 million in
2012, as compared with a net loss of $3.74 million in 2011.

                         Regulatory Matters

Effective April 16, 2010, the Bank consented to the issuance of a
Consent Order by the  Federal Deposit Insurance Corporation and
the the Florida Office of Financial Regulation, also effective as
of April 16, 2010.

The Consent Order represents an agreement among the Bank, the FDIC
and the OFR as to areas of the Bank's operations that warrant
improvement and presents a plan for making those improvements.
The Consent Order imposes no fines or penalties on the Bank.  The
Consent Order will remain in effect and enforceable until it is
modified, terminated, suspended, or set aside by the FDIC and the
OFR.


ORCKIT COMMUNICATIONS: Willing to Accept Noteholders' Proposal
--------------------------------------------------------------
In connection with a meeting held on Feb. 4, 2014, among the
Orckit Communications Ltd. and the holders of the Company's Series
A notes and Series B notes about the proposed arrangement under
Section 350 of the Israeli Companies Law, 1999, among the Company
and the Note holders presented by a joint committee of the
representatives of the Note holders on Jan. 30, 2014, the Company
published its response to the Proposed Arrangement.

The Company indicated that it would be willing to accept most of
the terms and conditions of the Proposed Arrangement and proposed
changes to some of them, including those regarding Mr. Izhak
Tamir's future services to the Company (which were proposed to be
unlimited in time and for no compensation), the treatment of the
Company's financial obligations toward Mr. Izhak Tamir and Mr.
Eric Paneth (which were proposed to be forgiven) and the
conditions to the waiver of liability (which were open-ended and
subjective).

In addition, on Feb. 4, 2014, the Company published current
unaudited financial information and business information about the
Company, including the following:

   * Cash and cash equivalents - $1.16 million

   * Accounts receivable - $3.07 million

   * Customer backlog - $1.2 million

   * Debt under the Notes, excluding interest (due July 2014) -
     $17 million

The foregoing does not include liabilities in the ordinary course
of business and liabilities toward the Israeli Office of the Chief
Scientist.

"The Company's customers are eagerly awaiting the implementation
of an arrangement with the Note holders out of concern that
without such an arrangement the Company will close, forcing the
customers to make alternative arrangements," according to the Form
6-K filed with the U.S. Securities and Exchange Commission.

"Nothing in this report should be construed as an indication that
an agreement will reached on the terms of an arrangement with the
Note holders or that any arrangement will ultimately be
implemented.  Under applicable law, any arrangement requires
various approvals, including various stakeholders of the Company,
the Tel Aviv District Court and the Tel Aviv Stock Exchange," the
Company said.

                           About Orckit

Tel-Aviv, Israel-based Orckit Communications Ltd. (TASE: ORCT)
engages in the design, development, manufacture and marketing of
advanced telecom equipment to telecommunication service providers
in metropolitan areas.  The Company's products are transport
telecommunication equipment targeting high capacity packetized
metropolitan networks.

Orckit disclosed a net loss of $6.46 million on $11.19 million of
revenues for the year ended Dec. 31, 2012, as compared with a net
loss of $17.38 million on $15.58 million of revenues for the year
ended Dec. 31, 2011.  The Company's balance sheet at Sept. 30,
2013, showed $12.44 million in total assets, $24.03 million in
total liabilities and a $11.59 million total capital deficiency.

Kesselman & Kesselman, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2012.  The independent auditors noted that the Company has a
capital deficiency, recurring losses, negative cash flows from
operating activities and has significant future commitments to
repay its convertible subordinated notes.  These facts raise
substantial doubt as to the Company's ability to continue as a
going concern.


ORMET CORP: May Incur Additional Secured Debt
---------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Ormet Corporation, et al., to enter into a sixth amendment to the
term loan DIP credit agreement, including the Debtors' incurrence
of the additional secured debt in the form of the supplemental DIP
financing.

Pursuant to the budget, the Debtor is authorized to incur loan
until Feb. 28, 2014.  A copy of the budget is available for free
at http://bankrupt.com/misc/ORMETCORPcreditamendmentorder.pdf

Meanwhile, the Court had approved a stipulation extending until
Jan. 15, the Debtors deadline to assume or reject the potential
leases with Impala Warehousing (US) LLC.

                         About Ormet Corp.

Aluminum producer Ormet Corporation, along with affiliates, filed
for Chapter 11 protection (Bankr. D. Del. Case No. 13-10334) on
Feb. 25, 2013, with a deal to sell the business to a portfolio
company owned by private investment funds managed by Wayzata
Investment Partners LLC.

Headquartered in Wheeling, West Virginia, Ormet --
http://www.ormet.com/-- is a fully integrated aluminum
manufacturer, providing primary metal, extrusion and thixotropic
billet, foil and flat rolled sheet and other products.

Ormet disclosed assets of $406.8 million and liabilities totaling
$416 million.  Secured debt of about $180 million includes $139.5
million on a secured term loan and $39.3 million on a revolving
credit.

Affiliates that separately filed Chapter 11 petitions are Ormet
Primary Aluminum Corporation; Ormet Aluminum Mill Products
Corporation; Specialty Blanks Holding Corporation; and Ormet
Railroad Corporation.

Ormet emerged from a prior bankruptcy in April 2005.  Lender
Wayzata Investment Partners LLC is among existing owners.  Others
are UBS Willow Fund LLC and Fidelity Leverage Company Stock Fund.

In the 2013 case, Ormet is represented in the case by Morris,
Nichols, Arsht & Tunnell LLP's Erin R. Fay, Esq., Robert J.
Dehney, Esq., Daniel B. Butz, Esq.; and Dinsmore & Shohl LLP's Kim
Martin Lewis, Esq., Patrick D. Burns, Esq.  Kurtzman Carson
Consultants is the claims and notice agent.  Evercore's Lloyd
Sprung and Paul Billyard serve as investment bankers to the
Debtor.

An official committee of unsecured creditors was appointed in the
case in March 2013.  The Committee is represented by Rafael X.
Zahralddin, Esq., Shelley A. Kinsella, Esq., and Jonathan M.
Stemerman, Esq., at Elliott Greenleaf; and Sharon Levine, Esq., S.
Jason Teele, Esq., and Cassandra M. Porter, Esq., at Lowenstein
Sandler LLP.


ORTHOFIX INTERNATIONAL: Gets NASDAQ Listing Non-Compliance Notice
-----------------------------------------------------------------
Consistent with its press release of February 5, 2014, Orthofix
International N.V. on Feb. 12 confirmed that it received on
February 11, 2014 an expected letter from the Listing
Qualifications Department of The NASDAQ Stock Market stating that
unless the Company requests a hearing before a NASDAQ Listing
Qualifications Panel by February 18, 2014, the Company's common
stock will be subject to delisting based upon the Company's non-
compliance with NASDAQ Listing Rule 5250(c)(1).  The NASDAQ
Staff's determination letter was issued in accordance with
standard NASDAQ procedures due to the delayed filing of the
Company's Quarterly Reports on Form 10-Q for the fiscal quarters
ended June 30, 2013 and September 30, 2013.  The Company intends
to request a hearing before a Hearings Panel and also to request a
stay of the Staff's delisting determination.  This hearing request
will automatically stay the delisting of the Company's common
stock until at least March 5, 2014 and, if the Hearings Panel
grants Orthofix's request for a further stay (which is
discretionary on the part of the Hearings Panel and therefore not
assured), any final delisting (and suspension of trading) will be
stayed until further Hearings Panel proceedings.  Under the NASDAQ
rules, a Hearings Panel has discretion to grant an additional
extension, which cannot exceed 360 calendar days from the original
non-compliance date.

                         About Orthofix

Orthofix International N.V. -- http://www.orthofix.com-- is a
diversified, global medical device company focused on developing
and delivering innovative orthopedic and spine solutions that
drive value for patients, surgeons, and providers.  Orthofix's
products are widely distributed around the world to surgeons and
patients via Orthofix's sales representatives and its
subsidiaries, and via collaborations with other leading orthopedic
product companies.  In addition, Orthofix is collaborating on R&D
activities with leading research and clinical organizations such
as the Musculoskeletal Transplant Foundation and Texas Scottish
Rite Hospital for Children.


OXYSURE SYSTEMS: Reduces Debt by Nearly $1 Million
--------------------------------------------------
OxySure(R) Systems, Inc., has removed approximately $967,609 of
claimed indebtedness from its balance sheet by converting notes
and other indebtedness to restricted common stock at conversion
prices ranging from $1.50 per share to $.76 per share.

On Jan. 23, 2014, the Company received fully counter-executed
agreements relating to the conversion of approximately $967,609 in
claimed notes and other indebtedness with an effective date of
Dec. 31, 2013.  The claimed indebtedness relate to:

    (i) that certain Third Landlord Note issued to Sinacola
        Commercial Properties, Limited, in the principal amount of
        $110,000, of which the principal was converted to
        restricted common stock at a conversion price of $1.00 per
        share, and accrued interest was converted at $.76 per
        share;

   (ii) that certain Fourth Landlord Note in the principal amount
        of $110,715, of which the principal was converted to
        restricted common stock at a conversion price of $1.50 per
        share, and accrued interest was converted at $.76 per
        share;

  (iii) that certain Fifth Landlord Note in the principal amount
        of $50,000, of which the principal was converted to
        restricted common stock at a conversion price of $1.00 per
        share, and accrued interest was converted at $.76 per
        share;

   (iv) that certain Sixth Landlord Note in the principal amount
        of $50,000, of which the principal was converted to
        restricted common stock at a conversion price of $1.50 per
        share, and accrued interest was converted at $.76 per
        share;

    (v) that certain Seventh Landlord Note in the principal amount
        of $50,050, of which the principal was converted to
        restricted common stock at a conversion price of $1.00 per
        share, and accrued interest was converted at $.76 per
        share;

   (vi) that certain Eighth Landlord Note in the principal amount
        of $50,050, of which the principal was converted to
        restricted common stock at a conversion price of $1.50 per
        share, and accrued interest was converted at $.76 per
        share; and

  (vii) certain claimed indebtedness, which includes deferred rent
        and accrued interest, totaling approximately $489,703
        which was converted to restricted common stock at
        approximately $.76 per share.

"The debt conversions demonstrate significant progress in our
strategy to strengthen our balance sheet, especially as we set our
sights on the goal of meeting the criteria for an uplisting to a
senior exchange in the foreseeable future, " Julian T. Ross, CEO
of OxySure Systems, stated.  "As a result of these conversions, we
are entering 2014 with a significantly improved financial
profile."

In total, the agreements require that the Company issue to SCP a
total of approximately 1,268,167 shares of restricted common
stock, which includes the common stock issuable pursuant to the
conversions, as well as approximately 220,013 shares of restricted
common stock related to considerations provided to the Company by
SCP pursuant to a lease extension entered into with SCP
simultaneously with the conversions.  The lease extension extends
the Company's prior lease at its headquarters and production
facility located at 10880 John W. Elliot Drive, Suite 600, Frisco,
Texas 75033, to Dec. 31, 2017.  In terms of the lease extension,
the Company's rent during 2014 and 2015 will be approximately 4%
lower than the final year's rent stipulated by the original lease
executed in 2007.

All of the shares issuable to SCP are to be issued in reliance on
Section 4(2) of the Securities Act of 1933, as amended, and are
exempt from registration under the Securities Act of 1933.  SCP
represented that it is an accredited investor, as that term is
defined in Regulation D, and that it is acquiring the securities
for investment purposes only and not with a view to or for sale in
connection with any distribution thereof.

Additional information is available for free at:

                        http://is.gd/6CWoae

                        About OxySure Systems

Frisco, Tex.-based OxySure Systems, Inc. (OTC QB: OXYS) is a
medical technology company that focuses on the design, manufacture
and distribution of specialty respiratory and emergency medical
solutions.  The company pioneered a safe and easy to use solution
to produce medically pure (USP) oxygen from inert powders.  The
Company owns nine (9) issued patents and patents pending on this
technology which makes the provision of emergency oxygen safer,
more accessible and easier to use than traditional oxygen
provision systems.

The Company's balance sheet at Sept. 30, 2013, showed $1.20
million in total assets, $1.51 million in total liabilities and a
$310,451 total stockholders' deficit.

                           Going Concern

"Our financial statements are prepared using accounting principles
generally accepted in the United States of America applicable to a
going concern, which contemplates the realization of assets and
satisfaction of liabilities in the normal course of business.
While we have turned a profit during the three months ended
September 30, 2013, historically we have been suffering from
recurring loss from operations.  We have an accumulated deficit of
$14,703,693 and $14,258,667 at September 30, 2013 and December 31,
2012, respectively, and stockholders' deficits of $310,451 and
$652,125 as of September 30, 2013 and December 31, 2012,
respectively.  We require substantial additional funds to
manufacture and commercialize our products.  Our management is
actively seeking additional sources of equity and/or debt
financing; however, there is no assurance that any additional
funding will be available," the Company said its quarterly report
for the period ended Sept. 30, 2013.

"In view of the matters described above, recoverability of a major
portion of the recorded asset amounts shown in the accompanying
September 30, 2013 balance sheet is dependent upon continued
operations of the Company, which in turn is dependent upon the
Company's ability to meet its financing requirements on a
continuing basis, to maintain present financing, and to generate
cash from future operations.  These factors, among others, raise
substantial doubt about our ability to continue as a going
concern," the Company added.


PATRIOT COAL: Cleanup of Slurry Spill Continues, DEP Says
---------------------------------------------------------
Rusty Marks, writing for The West Virginia Gazette, reported that
state environmental officials have ordered all but cleanup work
halted at a Patriot Coal coal preparation plant that spilled more
than 100,000 gallons of coal slurry into Fields Creek in Kanawha
County.

According to the report, State Department of Environmental
Protection spokesman Tom Aluise said in a news release that the
imminent harm cessation order issued at Patriot's Kanawha Eagle
Prep Plant near Winifrede will remain in effect "until the company
has eliminated the potential for further pollution."

Officials believe a valve malfunctioned in a slurry line at the
preparation plant sometime after 2:30 a.m. on Feb. 11, allowing
108,000 gallons of coal slurry to escape into the creek about six
miles above the Kanawha River. Alarms on the pipeline system
apparently malfunctioned, and slurry continued to be pumped into
the creek until the spill was discovered about 5:30 a.m.  Aluise
said DEP was not notified of the spill until about 7:40 a.m.

Environmental officials originally thought that MCHM, the same
chemical released into the Elk River on Jan. 9 from a Freedom
Industries tank farm, was also leaked into Fields Creek, but DEP
later learned Kanawha Eagle had stopped using MCHM in January, the
report further related. Officials now believe the slurry instead
contained polypropylene glycol.

                        About Patriot Coal

St. Louis-based Patriot Coal Corporation (NYSE: PCX) is a producer
and marketer of coal in the eastern United States, with 13 active
mining complexes in Appalachia and the Illinois Basin.  The
Company ships to domestic and international electricity
generators, industrial users and metallurgical coal customers, and
controls roughly 1.9 billion tons of proven and probable coal
reserves.

Patriot Coal and nearly 100 affiliates filed voluntary Chapter 11
petitions in U.S. bankruptcy court in Manhattan (Bankr. S.D.N.Y.
Lead Case No. 12-12900) on July 9, 2012.  Patriot said it had
$3.57 billion of assets and $3.07 billion of debts, and has
arranged $802 million of financing to continue operations during
the reorganization.

Davis Polk & Wardwell LLP serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  Blackstone
Advisory Partners LP is serving as financial advisor, and AP
Services, LLC is providing interim management services to Patriot
in connection with the reorganization.  Ted Stenger, a Managing
Director at AlixPartners LLP, the parent company of AP Services,
has been named Chief Restructuring Officer of Patriot, reporting
to the Chairman and CEO.  GCG, Inc. serves as claims and noticing
agent.

The U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
Houlihan Lokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed Dec. 19, 2012, by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.

Patriot Coal et al., filed with the U.S. Bankruptcy Court for the
Eastern District of Missouri a First Amended Joint Chapter 11
Plan of Reorganization and an explanatory disclosure statement on
Oct. 9, 2013, and a Second Amended Joint Chapter 11 Plan of
Reorganization and an explanatory disclosure statement on Oct. 26,
2013.

The Bankruptcy Court approved the Plan on Dec. 17, 2013.


PHH CORP: Fitch Puts 'BB' LongTerm IDR on Rating Watch Evolving
---------------------------------------------------------------
Fitch Ratings has placed the 'BB' Long-Term Issuer Default Ratings
(IDR) of PHH Corporation (PHH) on Rating Watch Evolving following
the company's announcement that it is exploring ways to maximize
shareholder value through the separation or sale of its fleet
business, mortgage business, or both.

The company has retained advisors to assist in this process. PHH
indicated that they expect to reach conclusions on this
announcement prior to the end of the second quarter of 2014.

KEY RATING DRIVERS - IDRs AND SENIOR DEBT

The Rating Watch Evolving reflects uncertainty surrounding the
potential outcome of a separation or sale of either or both
businesses, though Fitch believes positive rating momentum is
limited to a scenario where the mortgage business is sold and the
fleet business is retained.

Fitch views the fleet leasing business as a source of stable cash
flow generation to the company's overall business and a credit
positive to PHH's current ratings. Therefore, the sale of the
fleet leasing business would be viewed negatively by Fitch.

Fitch views PHH's mortgage business less favorably due to the
highly cyclical nature of the mortgage origination business and
the capital intensive and volatile nature of the mortgage
servicing business. Furthermore, the mortgage business is subject
to intense regulatory and legislative scrutiny, which further
increases business risk.

In the case of a sale, Fitch will focus its review on the
surviving entity, assessing expected capitalization, liquidity,
and funding flexibility. Fitch will also consider the impact of
today's announcement on PHH's competitive position, including the
potential loss of clients and/or departures at the senior
management level.

Since September 2013, PHH has been in discussions with some of its
shareholders with regard to ways to maximize shareholder value,
including a possible sale or IPO of its fleet leasing business and
exploring alternative funding mechanisms for its mortgage
servicing rights (MSR) portfolio. This is not the first time the
company has pursued strategic alternatives, and Fitch believes an
extended period of uncertainty is likely to have a greater impact
on existing customer relationships.

RATING SENSITIVITIES - IDRs AND SENIOR DEBT

Negative rating momentum could develop if the mortgage business is
the surviving entity and management is unable to improve the
profitability of the business due to weaker competitive
positioning, resulting from the loss of significant customer
relationships, or higher regulatory and funding costs. Negative
rating actions could also result from the view that the sale of
the fleet leasing business weakens the capitalization or funding
flexibility of the firm.

Positive rating momentum could result if the fleet leasing
business is retained, although an eventual upgrade would be
dependent upon the company having the appropriate capitalization,
funding and liquidity levels, while maintaining current customer
relationships. This would likely take some time to observe.

Ratings could be affirmed should there be no change to the current
business model, including no disruption in customer relationships,
and the company continues to generate consistent operating
performance while maintaining appropriate capitalization,
liquidity, and economic access to diversified funding sources,
including unsecured debt. Fitch believes the likelihood of this
occurring is remote.

Fitch has placed the following ratings on Rating Watch Evolving:

PHH Corporation

-- Long-term IDR 'BB';
-- Short-term IDR 'B';
-- Senior unsecured debt 'B';
-- Commercial paper 'B'.


PHH CORP: S&P Revises Outlook to Negative & Affirms 'BB-' ICR
-------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
PHH Corp. to negative from stable.  At the same time, S&P affirmed
its 'BB-' long-term issuer credit and senior unsecured ratings on
the company.  S&P also affirmed its preliminary 'B' subordinated
debt rating, preliminary 'B-' preferred stock rating, and 'B'
short-term issuer credit rating on PHH.

"The outlook revision to negative follows management's
announcement that the firm could separate its mortgage and fleet
leasing businesses," said Standard & Poor's credit analyst Jeffrey
Zaun.  "If a transaction or series of transactions results in a
stand-alone mortgage business, we believe that, without the steady
income from its fleet leasing business, the mortgage business
would be more vulnerable to mortgage market volatility and would
encounter greater difficulty in funding its volatile MSR assets,"
said Mr. Zaun.  Through 2012 and 2013, management moved to
stabilize PHH's funding profile and establish its liquidity
position.  Management has lengthened the tenor of its secured
credit facilities to August 2015.  Additionally, in August 2013
PHH issued $350 million of unsecured notes that it used, in part,
to pay down debt due in 2016.  Even after repaying its debt, the
firm reported $1.2 billion of unrestricted cash as of Dec. 31,
2013.

PHH's dependence on wholesale funding for its mortgage servicing
business remains a limit to the rating, and it could become more
difficult for the company to fund its mortgage business without
the stable earnings from the firm's fleet leasing segment.  The
fleet leasing business has heretofore provided steady earnings and
diversification away from the volatile mortgage origination and
servicing businesses.

PHH retains strong market positions in its two businesses
(residential mortgage origination/servicing and vehicle fleet-
management services).  The ratings on PHH also reflect favorable
mortgage servicing industry trends and the firm's appropriate
leverage.  Negative ratings factors include PHH's exposure to the
uncertain U.S. residential mortgage market, limited flexibility in
funding of its mortgage servicing asset, government officials'
heightened attention to mortgage origination and servicing
practices, and weak recent reported earnings.

S&P believes that earnings from a stand-alone mortgage company
could support the financing of PHH's mortgage origination and
servicing businesses, even if the company incurs material costs in
spinning off or selling its fleet leasing business.  S&P could,
however, downgrade PHH to 'B+' because the business would lack the
stable earnings provided by its fleet leasing business.

The negative outlook reflects the possibility that PHH could
separate its mortgage and fleet leasing businesses, which would
add volatility to their earnings.  S&P also believes that earnings
may be volatile as the U.S. interest rate environment evolves.
With its strengthened liquidity and funding, however, PHH faces
fewer headwinds in improving its earnings.

S&P could lower the rating to 'B+' if management spins off or
sells the fleet leasing business.  S&P could also downgrade PHH if
management is unable to put in place adequate, laddered, long-term
sources of liquidity. Although PHH's liquidity is strong as of
February 2014, management may face difficulty in funding its MSRs
and business operations during periods of credit market
disruption.  Specifically, S&P expects the firm to maintain a
credible plan for keeping contingent liquidity, made up of cash
and available revolver capacity, in excess of $200 million above
the debt coming due over the next year.  S&P will also monitor the
firm's coverage of unsecured debt by unencumbered assets.  S&P
could raise the rating if PHH retains stable earnings from its
fleet leasing and management demonstrates its ability to establish
a long-term funding profile that enables the firm to operate
profitably over the coming quarters.


PLY GEM HOLDINGS: Unit Closes Offering of $500-Mil. Senior Notes
----------------------------------------------------------------
Ply Gem Industries, Inc., a wholly-owned subsidiary of Ply Gem
Holdings, Inc., completed its previously announced offering of
$500 million aggregate principal amount of 6.50 percent Senior
Notes due 2022.

In connection with the issuance of the New Senior Notes, Ply Gem
Industries, the Company and each of the direct and indirect
wholly-owned domestic subsidiaries of Ply Gem Industries entered
into (i) an indenture, dated as of Jan. 30, 2014, among Ply Gem
Industries, the Guarantors and Wells Fargo Bank, National
Association, as trustee, and (ii) a registration rights agreement,
dated as of Jan. 30, 2014, among Ply Gem Industries, the
Guarantors and Credit Suisse Securities (USA) LLC, as
representative of the initial purchasers.

The New Senior Notes will mature on Feb. 1, 2022.  Interest on the
New Senior Notes will accrue at 6.50 percent per annum and will be
payable on February 1 and August 1 of each year, commencing on
Aug. 1, 2014.

The New Senior Notes are unconditionally guaranteed on a senior
unsecured basis by the Guarantors.  Ply Gem Industries' Canadian
subsidiaries, Ply Gem Canada, Inc., Gienow Canada Inc. and Mitten
Inc., are not, and future foreign subsidiaries will not be,
guarantors of the New Senior Notes.

A copy of the Indenture is available for free at:

                        http://is.gd/DszrTr

Term Loan Facility

On Jan. 30, 2014, Ply Gem Industries and the Company entered into
a Credit Agreement by and among Ply Gem Industries, the Company,
the lenders party thereto and Credit Suisse AG, as administrative
agent and collateral agent, which governs the terms of the
Company's new senior secured term loan facility.

The Term Loan Facility consists of a senior secured term loan in
an aggregate principal amount of $430 million, which will mature
on Jan. 30, 2021.  The Term Loan Facility requires scheduled
quarterly payments in an aggregate annual amount equal to 1.00
percent of the original aggregate principal amount of the Term
Loan Facility, with the balance due at maturity.  The net proceeds
from the initial borrowings under the Term Loan Facility were
$427.85 million, after giving effect to original issue discount of
approximately $2.15 million.

Borrowings under the Term Loan Facility bear interest at a rate
equal to, at the Company's option, either (a) a base rate
determined by reference to the highest of (i) the prime rate of
the Administrative Agent, (ii) the federal funds rate plus 0.50
percent and (iii) the adjusted LIBO rate for a one-month interest
period plus 1.00 percent and (b) a LIBO rate determined by
reference to the cost of funds for eurocurrency deposits in
dollars for the interest period relevant to such borrowing,
adjusted for certain additional costs, subject to a 1.00 percent
floor, plus, in each case, an applicable margin of 3.00 percent
for any eurocurrency loan and 2.00 percent for any alternate base
rate loan.

A copy of the Credit Agreement is available for free at:

                         http://is.gd/LjUVtX

Termination of a Definitive Material Agreement

On Jan. 30, 2014, Ply Gem Industries irrevocably deposited with
Wells Fargo Bank, National Association, as trustee for Ply Gem
Industries' 8.25 percent Senior Secured Notes due 2018, an amount
sufficient to satisfy and to discharge its obligations under the
Senior Secured Notes and the Indenture, dated as of Feb. 11, 2011,
among Ply Gem Industries, as issuer, the guarantors named therein
and Wells Fargo Bank, National Association, as trustee and
collateral agent, governing the Senior Secured Notes.  On Jan. 30,
2014, Ply Gem Industries issued a notice of redemption pursuant to
the Senior Secured Notes Indenture to redeem all of its
outstanding Senior Secured Notes on March 1, 2014, at a redemption
price equal to 106.188 percent of the principal amount thereof,
plus accrued and unpaid interest to the redemption date.

On Jan. 30, 2014, Ply Gem Industries irrevocably deposited with
Wells Fargo Bank, National Association, as trustee for Ply Gem
Industries' 9.375 percent Senior Notes due 2017, an amount
sufficient to satisfy and to discharge its obligations under the
Old Senior Notes and the Indenture, dated as of Sept. 27, 2012,
among Ply Gem Industries, as issuer, the guarantors named therein
and Wells Fargo Bank, National Association, as trustee, governing
the Old Senior Notes.

Tender Offer Results

As of midnight, New York City time, on Jan. 24, 2014, Ply Gem
Industries has been advised by D.F. King & Co., Inc., as the
tender agent and information for the tender offers, that holders
of $705,907,000 aggregate principal amount, or approximately 93.37
percent, of the outstanding Senior Secured Notes had validly
tendered their Senior Secured Notes, and holders of $94,700,000
aggregate principal amount, or approximately 98.65 percent, of the
outstanding Old Senior Notes had validly tendered their Old Senior
Notes, in each case, pursuant to Ply Gem Industries' previously
announced tender offers.

On Jan. 30, 2014, Ply Gem Industries exercised its right to accept
for early purchase all of the Senior Secured Notes and Old Senior
Notes validly tendered prior to the Early Tender Time pursuant to
the terms of Ply Gem Industries' Offer to Purchase, dated Jan. 10,
2014.  Notwithstanding Ply Gem Industries' exercise of its early
settlement election, each tender offer will remain open until
12:00 midnight, New York City time, on Feb. 7, 2014, unless
extended.

Each holder who validly tendered its Senior Secured Notes prior to
the Early Tender Time will receive the total consideration of
$1,067.50 per $1,000 principal amount of the Senior Secured Notes
tendered, which includes $30.00 as an early tender premium.  Each
holder who validly tendered its Old Senior Notes prior to the
Early Tender Time will receive the total consideration of
$1,108.36 per $1,000 principal amount of the Senior Secured Notes
tendered, which includes $30.00 as an early tender premium.  In
addition, accrued and unpaid interest up to, but not including,
Jan. 30, 2014, was paid in cash on all validly tendered and
accepted Senior Secured Notes and Old Senior Notes.  As a result,
Ply Gem Industries will pay aggregate consideration of
approximately $780.2 million for the validly tendered and accepted
Senior Secured Notes, and aggregate consideration of approximately
$107.6 million for the validly tendered and accepted Old Senior
Notes.

A copy of the Form 8-K is available for free at:

                        http://is.gd/2FGOde

                           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.


PLY GEM HOLDINGS: JPMorgan Stake at 5.2% as of Dec. 31
------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, JPMorgan Chase & Co. disclosed that as of Dec. 31,
2013, it beneficially owned 3,559,204 shares of common stock of
Ply Gem Holdings, Inc., representing 5.2 percent of the shares
outstanding.  A copy of the regulatory filing is available for
free at http://is.gd/vpuJkO

                           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.


PREMIER JETS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Premier Jets, Inc.
           dba Lifeguard Air Ambulance
        POB 91430
        Portland, OR 97291

Case No.: 14-30667

Chapter 11 Petition Date: February 12, 2014

Court: United State Bankruptcy Court
       District of Oregon

Judge: Hon. Trish M Brown

Debtor's Counsel: Timothy J. Conway, Esq.
                  TONKON TORP LLP
                  888 SW 5th Ave #1600
                  Portland, OR 97204
                  Tel: (503) 802-2027
                  Email: tim.conway@tonkon.com

                     - and -

                  Albert N Kennedy, Esq.
                  TONKON TORP LLP
                  888 SW 5th Ave #1600
                  Portland, OR 97204
                  Tel: (503) 802-2013
                  Email: al.kennedy@tonkon.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Roger B. Kelsay, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/orb14-30667.pdf


PRESSURE BIOSCIENCES: Iliad Research Stake at 5% as of Jan. 28
--------------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, Iliad Research & Trading, L.P., and its affiliates
reported that as of Jan. 28, 2014, they beneficially owned 627,500
shares of common stock of Pressure Biosciences, Inc., representing
5.25 percent of the 11,949,267 shares outstanding on that date (as
reported in the Issuer's Form 8-K filed Dec. 18, 2013).  A copy of
the regulatory filing is available for free at http://is.gd/P7yfZ8

                    About Pressure Biosciences

Pressure BioSciences, Inc., headquartered in South Easton,
Massachusetts, holds 14 United States and 10 foreign patents
covering multiple applications of pressure cycling technology in
the life sciences field.

Pressure Biosciences disclosed a net loss applicable to common
shareholders of $4.40 million on $1.23 million of total revenue
for the year ended Dec. 31, 2012, as compared with a net loss
applicable to common shareholders of $5.10 million on $987,729 of
total revenue for the year ended Dec. 31, 2011.

The Company's balance sheet at Sept. 30, 2013, showed $1.29
million in total assets, $2.96 million in total liabilities and a
$1.67 million total stockholders' deficit.

Marcum LLP, in Boston, Massachusetts, 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 had recurring net losses and continues to
experience negative cash flows from operations.  These conditions
raise substantial doubt about its ability to continue as a going
concern.


PROLOGIS INC: Fitch Currently Rates $100MM Preferred Stock 'BB+'
----------------------------------------------------------------
Fitch Ratings assigns a credit rating of 'BBB' to the EUR700
million aggregate principal amount of guaranteed notes issued by
Prologis, L.P., the operating partnership of Prologis, Inc. (NYSE:
PLD; collectively including rated subsidiaries; Prologis or the
company).  The 2024 notes have an annual coupon rate of 3.375% and
were priced at 98.919% of the principal amount to yield 3.505% to
maturity or 160 basis points (bps) over the mid-swap rate.

The notes are senior unsecured obligations of Prologis, L.P. that
are fully and unconditionally guaranteed by Prologis, Inc. The
company intends to use the net proceeds of approximately EUR689.3
million for general corporate purposes, including to repay or
repurchase other indebtedness. In the short term, the company
intends to use the net proceeds to repay borrowings under its
multi-currency senior term loan and/or global line of credit.

In addition to the 2024 notes, Fitch currently rates Prologis as
follows:

Prologis, Inc.

-- Issuer Default Rating (IDR) 'BBB';
-- $100 million preferred stock 'BB+'.

Prologis, L.P.

-- IDR 'BBB';
-- $2 billion global senior credit facility 'BBB';
-- $659 million multi-currency senior unsecured term loan 'BBB';
-- $6 billion senior unsecured notes 'BBB';
-- $460 million senior unsecured exchangeable notes 'BBB'.

Prologis Tokyo Finance Investment Limited Partnership

-- JPY45 billion senior unsecured revolving credit facility
    'BBB';
-- JPY10 billion senior unsecured term loan 'BBB'.

The Rating Outlook is Stable.

Key Rating Drivers

Prologis, Inc.'s 'BBB' IDR reflects leverage that remains elevated
for the rating though expected to decline principally via
improving property fundamentals.  The rating is supported by the
stable cash flow from the company's global industrial real estate
portfolio that contributes towards appropriate fixed-charge
coverage, strong asset quality, and excellent access to capital.
Development continues to be a core tenet for the company and
Prologis endeavors to match-fund acquisitions and development
expenditures with proceeds from dispositions and fund
contributions, a strategy that materially impacts corporate
liquidity.  Contingent liquidity is strong as measured by
unencumbered asset coverage of unsecured debt.

High Leverage for 'BBB'; Expected to Decline

Current leverage is high for a 'BBB' rating (8.0x pro rata at
4Q'13), but Fitch's base case forecasts that pro rata leverage
will approach 7x by year-end 2014 and 6.5x by year-end 2015, which
would be strong for the 'BBB' rating.  However, the decline in
leverage may be choppy sequentially as the timing of dispositions
and fund contributions may not match that of acquisitions and
development starts.

Fitch defines leverage as net debt to recurring operating EBITDA
on a pro rata basis given PLD's willingness to buy back and/or
recapitalize unconsolidated assets and its agnostic view towards
property management for consolidated and unconsolidated assets.
Fitch's methodology differs from that of PLD's, which also seeks
to incorporate the development business by either including gains
on dispositions and contributions or adjusting EBITDA to reflect
future NOI contributions.

In a stress case not anticipated by Fitch in which same store net
operating income (SSNOI) declines by levels experienced in 2009-
2010, leverage would exceed 8x, which would be weak for a 'BBB'
rating.

Improving Cash Flow Supports Fixed Charge Coverage

The vast majority of PLD's earnings are derived from property-
level net operating income (NOI), which is complemented by the
company's investment management income.  During the fourth quarter
of 2013 (4Q'13), cash SSNOI increased by 3.0% and net effective
rents on leases signed in the quarter increased 5.9% from in-place
rents, a leading indicator for 2014 SSNOI growth.

Approximately 14.4% of pro rata base rents expire in 2014 followed
by 19.3% in 2015, and the current strength of the industrial real
estate market allows such expirations to be an opportunity for
additional growth.  Fitch expects PLD's SSNOI growth will be 3% in
2014 followed by similar growth in 2015 based largely on positive
net absorption.  Operating portfolio occupancy was 95.1% as of
Dec. 31, 2013, up from 93.9% as of Sept. 30, 2013 and 94% as of
Dec. 31, 2012.

Pro forma for the EUR700 million 3.375% senior notes due 2024,
repayment of borrowings under the unsecured global line of credit
and a portion of borrowings under the multicurrency unsecured term
loan, fourth-quarter 2013 pro rata fixed-charge coverage is
appropriate for the 'BBB' rating at 1.7x compared with 1.8x in
3Q'13 and 1.9x in 2Q'13.  Fitch defines pro rata fixed-charge
coverage as pro rata recurring operating EBITDA less pro rata
recurring capital expenditures less straight-line rent adjustments
divided by pro rata interest incurred and preferred stock
dividends.

Fitch's base case anticipates that coverage will approach 2.5x
over the next 12-to-24 months due to expected SSNOI growth, which
is strong for the 'BBB' rating.

Global Platform

The company's large platform ($48.2 billion of assets under
management at Dec. 31, 2013) limits the effects of any one
region's fundamentals to the overall cash flows. PLD derived 84.0%
of its 4Q'13 NOI from Prologis-defined global markets (59.8% in
the Americas, 18.6% in Europe, and 5.6% in Asia).

Private Capital Simplification

The company has reduced the total number of co-investment vehicles
that it manages via consolidation and the purchase of assets upon
closed end fund expirations. The majority of funds are infinite
life, which eliminates take-out risk at the fund's maturity. In
addition, the fund platform provides an additional layer of fee
income and recurring cash distributions to cover PLD's fixed
charges. Recently formed ventures include Prologis China Logistics
Venture 2 with HIP China Logistics Investments Limited and
subsequent to quarter-end, Prologis U.S. Logistics Venture (USLV)
with Norges Bank Investment Management.

Strong Asset Quality

PLD has a high-quality portfolio as evidenced by a focus on
properties with proximity to ports or intermodal yards, cross-
docking capabilities and structural items such as tall clearance
heights.  The portfolio has limited tenant concentration which is
a credit strength, with only the top three tenants comprising more
than 1% of annual base rent (ABR). PLD's top tenants at Dec. 31,
2013 were DHL (1.8% of ABR), CEVA Logistics (1.3% of ABR), and
Kuehne & Nagel (1.2% of ABR).

Excellent Capital Access

The company's access to capital is strong as evidenced by the
diversified capital structure which includes secured and unsecured
debt from public and private sources, as well as preferred stock,
common and private equity capital.

Prologis completed a total of $17.5 billion of capital markets
activity in 2013.  Notably, in April 2013, Prologis completed a
public offering of common stock, generating approximately $1.4
billion in net proceeds, which were used predominantly for new and
current investments.  The company's sponsored JREIT, Nippon
Prologis REIT, Inc. (NPR) also completed a follow-on offering
subsequent to its 2013 IPO. The company established an ATM program
during 2013 through which it may issue up to $750 million of
common stock, though it has yet to utilize this program.

Proactive Liability Management

In addition to recent U.S. dollar and Euro denominated bond
offerings, tender offers, and debt repurchases, Prologis upsized
its global credit facility in July 2013 to $2 billion from $1.65
billion and improved all-in pricing to LIBOR plus 130 bps, a
reduction of 40 bps from the prior global credit facility. The
company also recast its Japan revolver, upsizing this facility to
JPY45 billion from JPY36.5 billion.

Risks & Returns of Development

Development is a core tenet of PLD's business model, and through
multiple property cycles, Prologis has developed over a thousand
properties at mid-to-high teen percentage margins.  Development
improves the quality of the portfolio, creates value via the
entitlement, construction and lease-up of new properties and
enables PLD to realize cash gains on the contribution of the
stabilized developments to managed funds.

Credit concerns related to development include the effects on
corporate liquidity and inherent cyclicality. As evidenced by the
past downturn, when leasing is insufficient to meet occupancy
stabilization levels required for contribution, partially
stabilized developments remain on PLD's balance sheet and are
initially funded with short-term debt at the REIT, thus reducing
corporate liquidity.

Partially mitigating the aforementioned risks is the fact that the
total development pipeline is significantly smaller at
approximately $2 billion at Dec. 31, 2013 versus $6 billion
(including legacy ProLogis and AMB Property Corporation) at
Dec. 31, 2007.  The pipeline's size is large on an absolute basis
but manageable on a relative basis as PLD's share of cost to
complete development represented 2.9% of pro rata gross assets as
of Dec. 31, 2013.  However, the pipeline entails moderate lease-up
risk as build-to-suit projects represented approximately 41.8% of
development starts for full-year 2013.

The pipeline should remain active in the coming years due to
industrial real estate supply-demand dynamics. Demand for
industrial REIT space is skewed toward larger and newer facilities
from tenants such as e-commerce companies, traditional retailers,
and third-party logistics providers.

Match-Funded Liquidity Strategy

Fitch base case liquidity coverage is strong for the rating at
1.9x for the period Jan. 1, 2014 to Dec. 31, 2015. Fitch defines
liquidity coverage as liquidity sources divided by uses. Liquidity
sources include unrestricted cash, availability under revolving
credit facilities pro forma for the 2024 notes offering, and
projected retained cash flows from operating activities.
Liquidity uses include pro rata debt maturities after extension
options at PLD's option and projected recurring capital
expenditures.

Liquidity coverage would be 1.4x when including dispositions and
contributions as liquidity sources and acquisitions and
development starts as liquidity uses. Assuming a 90% refinance
rate on upcoming secured debt maturities, liquidity coverage would
be 1.6x. As of Dec. 31, 2013, near-to-medium term debt maturities
are staggered; 5.8% of pro rata debt matures during 2014, followed
by 9.7% in 2015.

Prologis has strong contingent liquidity with unencumbered assets
(4Q'13 estimated unencumbered NOI divided by a stressed 8%
capitalization rate) to pro forma unsecured debt of 2.2x.  When
applying a stressed 50% haircut to the book value of land and 25%
haircut to construction in progress, pro forma unencumbered asset
coverage improves to 2.4x.  In addition, the covenants in the
company's debt agreements do not restrict financial flexibility.
However, the company's AFFO payout ratio was 95.4% in 2013,
indicating limited liquidity generated from operating cash flow.

Preferred Stock Notching

The two-notch differential between PLD's IDR and preferred stock
rating is consistent with Fitch's criteria for corporate entities
with an IDR of 'BBB'.  Based on Fitch research titled 'Treatment
and Notching of Hybrids in Nonfinancial Corporate and REIT Credit
Analysis' these preferred securities are deeply subordinated and
have loss absorption elements that would likely result in poor
recoveries in the event of a corporate default.

Stable Outlook

The Stable Outlook reflects Fitch's expectation that leverage will
remain between 7.0x and 8.0x over the next 12 months, offset by
liquidity coverage of above 1.0x and fixed-charge coverage of
around 2.0x over the next 12 months.

RATING SENSITIVITIES

The following factors may result in positive momentum in the
rating and/or Outlook:

-- Fitch's expectation of pro rata leverage sustaining below 6.5x
    (pro rata leverage was 8.0x at 4Q'13);

-- Liquidity coverage including development sustaining above
    1.25x (Fitch base case liquidity coverage is 1.9x, but 1.4x
    when including dispositions and contributions as liquidity
    sources and acquisitions and development starts as liquidity
    uses);

-- Fitch's expectation of pro rata fixed-charge coverage
    sustaining above 2.0x (pro rata coverage was 1.8x in 4Q'13 pro
    forma).

The following factors may result in negative momentum in the
rating and/or Outlook:

-- Fitch's expectation of leverage sustaining above 7.5x;
-- Liquidity coverage including development sustaining below
    1.0x;
-- Fitch's expectation of fixed charge coverage ratio sustaining
    below 1.5x.


QUANTUM CORP: Incurs $2.4 Million Net Loss in Fiscal Q3
-------------------------------------------------------
Quantum Corp. reported a net loss of $2.41 million on $145.93
million of total revenue for the three months ended Dec. 31, 2013,
as compared with a net loss of $8.17 million on $159.36 million of
total revenue for the same period a year ago.

For the nine months ended Dec. 31, 2013, the Company incurred a
net loss of $6.98 million on $425.32 million of total revenue as
compared with a net loss of $37.12 million on $447.53 million of
total revenue for the same period during the prior year.

The Company's balance sheet at Dec. 31, 2013, showed $360.27
million in total assets, $439.90 million in total liabilities and
a $79.62 million stockholders' deficit.

"Our December quarter results reflect our focus on driving
increased profitability and cash flow while capitalizing on
revenue opportunities," said Jon Gacek, president and CEO of
Quantum.  "We reduced our GAAP operating expenses by 17 percent
year-over-year - and 12 percent on a non-GAAP basis - improving
our bottom-line results and helping us end the quarter with our
highest cash balance in three years.  At the same time we
continued to increase our StorNext revenue, with particularly
strong year-over-year growth driven by a near doubling of sales in
North America, and significantly improved our DXi and tape
automation revenue performance over the prior quarter.  Moving
forward, we will maintain a balanced approach between growth and
profit, building on our expanding product portfolio and market
reach and the actions we've taken to reduce our cost structure."

Quantum generated $7.3 million in cash from operations in the
quarter, ending the quarter with $82.8 million in total cash and
cash equivalents.

A copy of the press release is available for free at:

                        http://is.gd/HcA0Kf

                         About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in
backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

For the 12 months ended March 31, 2013, the Company incurred a net
loss of $52.41 million on $587.57 million of total revenue, as
compared with a net loss of $8.81 million on $652.37 million of
total revenue for the same period a year ago.


QUIZNOS: Sandwich Chain Reduces Menu
------------------------------------
Josh Kosman, writing for The New York Post, reported that the
Quiznos sandwich chain was expected on Feb. 13, to hold a
conference call with all its franchisees and reduce its menu sub
choices from 18 in an attempt to re-ignite traffic and cut costs.

According to the report, sources said Marc Lasry's Avenue Capital,
which owns Quinzos, is fighting a two-front battle -- hoping to
keep franchisees from leaving while trying to keep creditors from
forcing Quiznos into bankruptcy.

Quiznos several months ago broke its debt covenants, the report
further related.  Its lenders, owed $600 million, have given Lasry
until Feb. 28 to work out a settlement, a source said.


SAN BERNARDINO, CA: Carey Davis Elected as New Mayor
----------------------------------------------------
Tim Reid, writing for Reuters, reported that residents of San
Bernardino, California, have elected Carey Davis as the crisis-hit
city's new mayor.  Davis, a businessman and political novice, ran
in part on a campaign to reduce the city's pension obligations,
the report related.  In an interview in November, when he became
one of two mayoral candidates, he said the city had to cut
spending on police and fire departments, currently more than 70
percent of the budget.

"You have to roll the pensions back," Davis said in November, the
report cited.

Davis will play a big role in how the city approaches negotiations
with its creditors, the report said.  He will be part of a small
team of elected officials who represent the city as the debtor in
the bankruptcy.

Reuters noted that San Bernardino is entering into a fourth month
of mediation with its creditors, the biggest of which is Calpers,
California's retirement system.

                  About San Bernardino, Calif.

San Bernardino, California, filed an emergency petition for
municipal bankruptcy under Chapter 9 of the U.S. Bankruptcy Code
(Bankr. C.D. Calif. Case No. 12-28006) on Aug. 1, 2012.  San
Bernardino, a city of about 210,000 residents roughly 65 miles
(104 km) east of Los Angeles, estimated assets and debts of more
than $1 billion in the bare-bones bankruptcy petition.

The city council voted on July 10, 2012, to file for bankruptcy.
The move lets San Bernardino bypass state-required mediation with
creditors and proceed directly to U.S. Bankruptcy Court.

The city is represented that Paul R. Glassman, Esq., at Stradling
Yocca Carlson & Rauth.

San Bernardino joined two other California cities in bankruptcy:
Stockton, an agricultural center of 292,000 east of San Francisco,
and Mammoth Lakes, a mountain resort town of 8,200 south of
Yosemite National Park.

The City was granted Chapter 9 protection on Aug. 28, 2013.


SHOTWELL LANDFILL: March 25 Hearing on Consolidated Ch. 11 Plan
---------------------------------------------------------------
The Hon. Stephani W. Humrickhouse of the U.S. Bankruptcy Court for
the Eastern District of North Carolina conditionally approved the
Disclosure Statement explaining Shotwell Landfill, Inc., et al.'s
consolidated Plan of Reorganization dated Feb. 3, 2014.

The Court also approved these deadlines in relation to the Plan:

March 19:               last day for filing and serving written
                        objections to the disclosure statement.
                        If no objections or requests to modify the
                        Disclosure Statement are filed on or
                        before that date, the conditional approval
                        of the disclosure statement will become
                        final.  Any objections to or requests to
                        modify the disclosure statement will be
                        considered at the confirmation hearing.

March 25, at
10:00 a.m.:             confirmation hearing

March 19:               objections to confirmation

Feb. 13:                deadline for the plan proponent to
                        transmit the disclosure statement and the
                        plan, the order, and official form 14
                        (ballot for accepting and rejecting the
                        plan), to all creditors, equity security
                        holders, Bankruptcy Administrator, and
                        other parties-in-interest

In a previous order, the Court extended until Feb. 3, the Debtors'
time to file a consolidated Plan.  Counsel for LSCG Fund 18 LLC
consented to the Debtors' request for extension.

The Debtors' consolidated plan proposes to pay all Allowed Claims
in full.

A copy of the Disclosure Statement and Plan are available for free
at:

     http://bankrupt.com/misc/ShotwellLandfill_DS.pdf
     http://bankrupt.com/misc/ShotwellLandfill_DS203.pdf

                    About Shotwell Landfill, Inc.

Raleigh, North Carolina-based Shotwell Landfill, Inc., filed a
Chapter 11 petition (Bankr. E.D.N.C. Case No. 13-02590) in
Wilson on April 19, 2013.  The Debtor disclosed $23,027,736 in
assets and $10,039,308 in liabilities as of the Chapter 11 filing.
Blake P. Barnard, Esq., William P. Janvier, Esq., and Samantha Y.
Moore, Esq., at the Janvier Law Firm, PLLC, in Raleigh, N.C.,
represent the Debtor as counsel.  William W. Pollock, Esq., at
Ragsdale Liggett PLLC, in Raleigh, N.C., represents the Debtor as
special counsel.

The Bankruptcy Administrator was unable to appoint an official
committee of unsecured creditors in the Debtor's case.

The Debtor, in its amended schedules disclosed $23,043,736 in
assets and $10,048,364 in liabilities as of the Chapter 11 filing.


SIMPLY WHEELZ: Secures FTC Approval for Sale to Catalyst
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Advantage Rent A Car moved closer to completing a
sale of its business to Catalyst Capital Group Inc. after the
Federal Trade Commission approved the transaction at the end of
January.

According to the report, before completing the sale, airport
leases must be transferred to Catalyst, which is also to decide
whether it will shutter more than the 30 locations already set to
be closed.

                    About Simply Wheelz LLC

Simply Wheelz LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Miss. Case No. 13-03332) on Nov. 5,
2013.  The case is assigned to Judge Edward Ellingon.  The Debtor
disclosed $413,502,259 in assets and $322,230,695 in liabilities
as of the Chapter 11 filing.

The Debtors are represented by Christopher R. Maddux, Esq., and
Stephen W. Rosenblatt, Esq., at Butler Snow O'Mara Stevens &
Cannada, in Ridgeland, Mississippi.

The Troubled Company Reporter reported on Jan. 7, 2014, that the
Bankruptcy Court has approved the sale of substantially all of the
Debtors' assets to The Catalyst Group, Inc., in exchange for the
$46 million loan that is financing the Chapter 11 reorganization.


SOUTHERN GENERAL: A.M. Best Lowers Issuer Credit Rating to 'bb'
---------------------------------------------------------------
A.M. Best Co. has downgraded the issuer credit rating (ICR) to
"bb" from "bb+" and affirmed the financial strength rating (FSR)
of B (Fair) of Southern General Insurance Company (SGIC).
Concurrently, A.M. Best has downgraded the ICR to "bb" from "bb+"
and affirmed the FSR of B (Fair) of GreenStar Insurance Company
(GreenStar), an affiliate of SGIC.  The outlook for the FSRs has
been revised to negative from stable, while the outlook for the
ICRs is negative. Both entities are domiciled in Marietta, GA.

The rating actions reflect SGIC's continued operating losses in
2012 and for the first nine months of 2013, which resulted in
combined and operating ratios that compared unfavorably with
results for the private passenger non-standard composite.
Additionally, risk-adjusted capitalization declined as a result of
continued poor operating performance.  The ratings also considered
a significant positive accounting adjustment to policyholders'
surplus relating to premium receivables from the company's
managing general agent, The Insurance House, Inc.

Operating losses resulted from a trend of underwriting losses
driven by increased claim severity leading to adverse prior year
loss reserve development, settlement of a large extra-contractual
claim from a prior accident year, increased competitive market
conditions and elevated expense structure.

In response to declining operating trends, SGIC has taken
aggressive actions to reduce expenses, optimize territorial rates
and launch a new point-of-sale technology.  Partially offsetting
these negative rating factors are SGIC's adequate risk-adjusted
capitalization, long-standing agency relationships and local
market presence.

The rating actions on GreenStar reflect its changing profile,
uncertainty in successfully marketing private passenger non-
standard automobile coverage to metropolitan areas and the
company's poor operating performance in recent years.

The negative outlook on the ratings of SGIC and GreenStar
acknowledges their negative operating trends and the uncertainty
regarding successful implementation of initiatives to return both
companies to operating profitability.


SUNEDISON INC: S&P Withdraws 'B+' CFR at Company's Request
----------------------------------------------------------
Standard & Poor's Ratings Services said that it revised the
outlook to stable from negative and affirmed its 'B+' corporate
credit rating on SunEdison Inc.  Subsequent to this, Standard &
Poor's withdrew the rating at the company's request.

"We had revised the outlook to stable from negative because the
company is performing in-line with our expectations, and we expect
credit metrics will improve in 2014," said Standard & Poor's
credit analyst Jatinder Mall.

The company had recently issued $1.2 billion in convertible notes
and used part of the proceeds to fully retire its senior notes due
in 2019, as well as a $200 million term loan.  S&P did not rate
the convertible notes and had withdrawn our issue-level rating on
the 2019 senior notes.


TNS INC: Moody's Alters Outlook to Neg., & Affirms 'B2' CFR
-----------------------------------------------------------
Moody's Investors Service has affirmed the ratings of TNS, Inc.
including its B2 corporate family rating following its proposal to
issue additional secured debt and return cash to its equity
sponsor. TNS plans to add $70 million to its existing $510 million
first lien term loan and $115 million to its $85 million second
lien term loan to fund the proposed $185 million dividend.
However, Moody's has changed the outlook for TNS to negative from
stable due to the higher leverage from the proposed debt issuance
and the company's continued weak top line performance. The
negative outlook incorporates Moody's view that continued revenue
weakness may be too great to offset with additional expense
reduction opportunities such that leverage could exceed the upper
limit of the B2 rating.

Affirmations:

Issuer: TNS, Inc.

Corporate Family Rating, Affirmed B2

Probability of Default Rating, Affirmed B2-PD

Senior Secured Bank Credit Facility, Affirmed B1 (LGD3, 40% from
LGD3, 43%)

Senior Secured Bank Credit Facility, Affirmed Caa1 ( LGD5, 89%
from LGD6, 92%)

Outlook Actions:

Issuer: TNS, Inc.

Outlook, Changed To Negative From Stable

Rating Rationale

TNS' B2 CFR reflects its high leverage of approximately 5.5x
(Moody's adjusted) following the debt issuance and the company's
relatively small size compared to competitors in the
telecommunications service industry. The proposed transaction will
push TNS's leverage towards the upper limit of the B2 rating and
significantly reduce the company's financial flexibility. The
rating also incorporates Moody's expectation of continued revenue
declines in the low single digit percentage range over the next
several quarters. Moody's believes that revenues will remain weak,
especially in TNS's telecom segment due to the long term downward
pressure on wireline subscriber trends that is negatively
impacting its directory and network access products as well as the
need to offer price concessions for some services at contract
renewal. The rating is supported by the company's strong track
record of cost cutting which has allowed it to grow EBITDA margin
despite weak revenues over the past two years. The rating also
benefits from the company's strong free cash flow generation which
should improve going forward as capex declines due to the
completion of investments in new services.

Moody's anticipates that TNS will have good liquidity over the
next 12 months, supported by approximately $28 million of cash on
the balance sheet and the company's strong free cash flow
generation of over $40 million annually following the transaction.
As part of this transaction, the company will amend the credit
facility covenant levels such that Moody's anticipates the company
will not have compliance issues over the next four quarters.

Moody's could stabilize the rating if TNS can reverse its revenue
decline while continuing cost cutting efforts such that leverage
decreases towards 5x (Moody's adjusted) over the next 12-18
months. Further deterioration in revenue or EBITDA due to
technological change, competition, or operational issues or
additional debt financing that causes debt to EBITDA to approach
5.75x (Moody's adjusted) could lead to a downgrade.

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.

TNS, Inc. (TNS) is a provider of data communications and
interoperability solutions services with operations in its
Telecommunication Services, Payment Services, and Financial
Services division. It provides products and services in North
American, Europe and Asia. For the last twelve months ended
September 30, 2013 total revenues for TNS were approximately $515
million.


TNS INC: S&P Affirms 'B+' Corp. Credit Rating; Outlook Stable
-------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on Reston, Va.-based TNS Inc.  The outlook
is stable.

At the same time, S&P affirmed its 'BB-' issue-level rating and
'2' recovery rating on the company's first-lien senior secured
credit facilities, which consist of an upsized $580 million term
loan due 2020 and a $50 million revolving credit facility due
2018.  The '2' recovery rating on this debt indicates S&P's
expectation for substantial (70% to 90%) recovery in the event of
a payment default.  S&P also affirmed its 'B' issue-level and '5'
recovery ratings on the upsized $200 million second-lien term loan
due 2020.  The '5' recovery rating on this debt indicates S&P's
expectation for modest (10% to 30%) recovery in the event of a
payment default.  The company will use proceeds from the add-ons,
along with $6.5 million in cash, to fund a shareholder
distribution.

"The ratings on TNS Inc. reflect our view of the company's 'weak'
business risk profile and 'aggressive' financial risk profile,"
said Standard & Poor's credit analyst Michael Weinstein.

Key elements of our financial risk assessment include the company
achieving significant cost savings since the leveraged buyout
transaction closed in early 2013.  In total, the company has
achieved nearly $65 million in annualized cost savings, including
capital spending reductions, network grooming initiatives, and
other organizational changes.  The achieved savings are well above
the company's initial goal of $30 million to $45 million of run-
rate cash savings, and more than offset the revenue declines that
S&P is expecting through at least 2014.  At the same time, S&P
recognizes that these initiatives could disrupt business
operations if the program is not managed properly.  Under the
proposed dividend recapitalization, S&P believes leverage will be
in the mid-4x area at the end of 2014, reflecting its expectation
that the company will use the majority of its internally generated
free operating cash flow (FOCF) to pay down debt.  S&P's adjusted
leverage calculation incorporates its revised operating lease
adjustment, which adds about $30 million more to adjusted EBITDA
in the form of imputed depreciation expense when compared to S&P's
previous criteria.

Key elements of the business risk assessment include significant
customer concentration, strong industry competition, and customer
consolidation, particularly among its competitive local exchange
carrier (CLEC) customers.  Partially offsetting these risks are
TNS's solid position in niche markets, international market share
expansion, and growth prospects including its wireless caller ID
product and Internet protocol (IP)-based network services.

The stable outlook reflects S&P's expectation that TNS will use
the majority of FOCF to repay debt over the next year, resulting
in leverage in the mid-4x area by the end of 2014.  At the same
time, the outlook takes into account ongoing declines in its
wireline network connectivity and directory business units, and a
continued weak economic climate that will constrain transaction
volumes in the payments segment.

S&P could lower the ratings if the company made an additional
debt-funded acquisition or recapitalization that would lower funds
from operations to debt to below 12% and sustain leverage above
the 5x area, even when including the expectation that the company
will use the majority of FOCF to pay down debt.  Alternatively,
S&P could lower the rating if the company suffers from ongoing
revenue declines due to lower than expected adoption of its
wireless caller ID product, and greater than expected declines in
its legacy telecommunication services products, including further
consolidation among CLEC and cable customers.

Given the company's private equity ownership and the likelihood
for an additional recapitalization over the next few years, S&P
considers an upgrade unlikely under the current ownership
structure.


TRINITY COAL: Consummates Chapter 11 Plan
-----------------------------------------
The effective date of Trinity Coal Corporation, et al.'s Fourth
Amended Joint Plan of Reorganization occurred on Jan. 31, 2014,
according to a notice filed with the U.S. Bankruptcy Court for the
Eastern District of Kentucky.  The Plan was confirmed on Nov. 8,
2013.

As of the occurrence of the Effective Date, David Stetson has
resigned his position as chief restructuring officer of the
Debtors, and Michael Dean has resigned his position as chief
financial officer of the Debtors.

                        About Trinity Coal

Trinity Coal Corp. is a coal mining company that owns coal
deposits located in the Appalachian region of the eastern United
States, specifically, in Breathitt, Floyd, Knott Magoffin, and
Perry Counties in eastern Kentucky and in Boone, Fayette, Mingo,
McDowell and Wyoming Counties in West Virginia.  Privately held
multinational conglomerate Essar Global Limited acquired Trinity
Coal in 2010 for $600 million.

Credit Agricole Corporate & Investment Bank, ING Capital LLC and
Natixis, New York Branch filed an involuntary petition for relief
under Chapter 11 against Trinity Coal Corporation and 15
affiliates (Bankr. E.D. Ky. Lead Case No. 13-50364).  The three
entities say they are owed a total of $104 million on account
loans provided to Trinity.

On Feb. 14, 2013, Austin Powder Company, Whayne Supply Company and
Cecil I. Walker Machinery Co. filed an involuntary petition for
relief under Chapter 11 (Bankr. E.D. Ky. Case No. 13-50335)
against Frasure Creek Mining, LLC.  On Feb. 19, 2013, Credit
Agricole, ING Capital and Natixis joined as petitioning creditors.
The Debtors consented to the entry of an order for relief in each
of their respective Chapter 11 cases.

Steven J. Reisman, Esq., L. P. Harrison 3rd, Esq., Jerrold L.
Bregman, Esq., and Dienna Ching, Esq., at Curtis, Mallet-Prevost,
Colt & Mosle LLP, in New York, N.Y.; and John W. Ames, Esq., C.R.
Bowles, Jr., Esq., and Bruce Cryder, Esq., at Bingham Greenebaum
Doll LLP, in Lexington, Ky., represent the Debtors as counsel.

Attorneys at Foley & Lardner LLP, in Chicago, Ill., represent the
Official Committee of Unsecured Creditors as counsel.  Sturgill,
Turner, Barker & Maloney, PLLC, in Lexington, Ky., represents the
Official Committee of Unsecured Creditors as local counsel. Dixon
Hughes Goodman LLP serves as tax accountants.

Trinity Coal on Nov. 8, 2013 won an order confirming its Chapter
11 plan.  Under the Plan, the company will exit Chapter 11 through
a repurchase by Essar Group, the co-proponent of the Plan.  Essar
is reacquiring Trinity by paying secured lenders $56 million
toward claims of some $123 million.  Essar is an Indian business
group controlled by billionaire brothers Shashikant and Ravikant
Ruia.


TRINITY COAL: Amended Reorganization Plan Declared Effective
------------------------------------------------------------
Trinity Coal Corporation, et al., notified the Bankruptcy Court on
Feb. 1, 2014, that the Effective Date of the Debtors' Fourth
Amended Joint Plan of Reorganization occurred on Jan. 31.

The Court on Nov. 8, 2013, entered an order confirming the Fourth
Amended Joint Plan.

As reported in the Troubled Company Reporter on Nov. 14, 2013,
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that the Debtors' Plan confirmation cleared the way for
the company to exit Chapter 11 protection through a repurchase by
Essar Group.

According to the report, the official creditors' committee
supported the plan, and every creditor class voted in favor.

Essar in substance is reacquiring Trinity by paying secured
lenders $56 million toward claims of some $123 million. Absent
Essar's repurchase, Trinity would have been sold in August.

Essar is an Indian business group controlled by billionaire
brothers Shashikant and Ravikant Ruia. They acquired Trinity Coal
in 2010 for $600 million.

Essar will provide $22 million to pay off the revolving credit
financing bankruptcy. It will also provide $16.4 million to cover
the cost of the bankruptcy and funds to pay secured lenders. In
return, Essar has all of the new equity and, in the process, will
waive its $133.4 million claim, thus not diluting creditors'
recoveries.

                        About Trinity Coal

Trinity Coal Corp. is a coal mining company that owns coal
deposits located in the Appalachian region of the eastern United
States, specifically, in Breathitt, Floyd, Knott Magoffin, and
Perry Counties in eastern Kentucky and in Boone, Fayette, Mingo,
McDowell and Wyoming Counties in West Virginia.  Privately held
multinational conglomerate Essar Global Limited acquired Trinity
Coal in 2010 for $600 million.

Credit Agricole Corporate & Investment Bank, ING Capital LLC and
Natixis, New York Branch filed an involuntary petition for relief
under Chapter 11 against Trinity Coal Corporation and 15
affiliates (Bankr. E.D. Ky. Lead Case No. 13-50364).  The three
entities say they are owed a total of $104 million on account
loans provided to Trinity.

On Feb. 14, 2013, Austin Powder Company, Whayne Supply Company and
Cecil I. Walker Machinery Co. filed an involuntary petition for
relief under Chapter 11 (Bankr. E.D. Ky. Case No. 13-50335)
against Frasure Creek Mining, LLC.  On Feb. 19, 2013, Credit
Agricole, ING Capital and Natixis joined as petitioning creditors.
The Debtors consented to the entry of an order for relief in each
of their respective Chapter 11 cases.

Steven J. Reisman, Esq., L. P. Harrison 3rd, Esq., Jerrold L.
Bregman, Esq., and Dienna Ching, Esq., at Curtis, Mallet-Prevost,
Colt & Mosle LLP, in New York, N.Y.; and John W. Ames, Esq., C.R.
Bowles, Jr., Esq., and Bruce Cryder, Esq., at Bingham Greenebaum
Doll LLP, in Lexington, Ky., represent the Debtors as counsel.

Attorneys at Foley & Lardner LLP, in Chicago, Ill., represent the
Official Committee of Unsecured Creditors as counsel.  Sturgill,
Turner, Barker & Maloney, PLLC, in Lexington, Ky., represents the
Official Committee of Unsecured Creditors as local counsel. Dixon
Hughes Goodman LLP serves as tax accountants.

Trinity Coal on Nov. 8, 2013 won an order confirming its Chapter
11 plan.  Under the Plan, the company will exit Chapter 11 through
a repurchase by Essar Group, the co-proponent of the Plan.  Essar
is reacquiring Trinity by paying secured lenders $56 million
toward claims of some $123 million.  Essar is an Indian business
group controlled by billionaire brothers Shashikant and Ravikant
Ruia.


TRINITY COAL: CRO and CFO Cease Employment as of Effective Date
---------------------------------------------------------------
Trinity Coal Corporation, et al., notified the U.S. Bankruptcy
Court for the Eastern District of Kentucky on Jan. 31, 2014, of
the resignation of David Stetson as chief restructuring officer,
and Michael D. Dean as chief financial officer and all other
officer positions of the Debtors.

The Debtors relate that from and after the Effective Date, Messrs.
Stetson and Dean will cease to be employed by the Debtors.

On March 6, 2013, as amended, the Debtors hired Mr. Stetson as
their CRO pursuant to an employment agreement dated as of Feb. 25,
2013.  As of the commencement of the Chapter 11 cases, Mr. Dean
was employed by Trinity Coal Partners LLC pursuant to an
employment agreement, dated Dec. 11, 2006, and he was subsequently
appointed by the CRO to be the CFO of the Debtors.

On Nov. 8, 2013, the Court confirmed the Fourth Amended Debtors'
Joint Chapter 11 Plan of Reorganization dated Nov. 6, 2013.  The
Effective Date occurred on Jan. 31, 2014.

In a separate order, the Court approved discretionary bonuses to
Messrs. Stetson and Dean, pursuant to the incentive compensation
orders previously issued by the Court and Sections 105 and 363(b)
of the Bankruptcy Code.

                        About Trinity Coal

Trinity Coal Corp. is a coal mining company that owns coal
deposits located in the Appalachian region of the eastern United
States, specifically, in Breathitt, Floyd, Knott Magoffin, and
Perry Counties in eastern Kentucky and in Boone, Fayette, Mingo,
McDowell and Wyoming Counties in West Virginia.  Privately held
multinational conglomerate Essar Global Limited acquired Trinity
Coal in 2010 for $600 million.

Credit Agricole Corporate & Investment Bank, ING Capital LLC and
Natixis, New York Branch filed an involuntary petition for relief
under Chapter 11 against Trinity Coal Corporation and 15
affiliates (Bankr. E.D. Ky. Lead Case No. 13-50364).  The three
entities say they are owed a total of $104 million on account
loans provided to Trinity.

On Feb. 14, 2013, Austin Powder Company, Whayne Supply Company and
Cecil I. Walker Machinery Co. filed an involuntary petition for
relief under Chapter 11 (Bankr. E.D. Ky. Case No. 13-50335)
against Frasure Creek Mining, LLC.  On Feb. 19, 2013, Credit
Agricole, ING Capital and Natixis joined as petitioning creditors.
The Debtors consented to the entry of an order for relief in each
of their respective Chapter 11 cases.

Steven J. Reisman, Esq., L. P. Harrison 3rd, Esq., Jerrold L.
Bregman, Esq., and Dienna Ching, Esq., at Curtis, Mallet-Prevost,
Colt & Mosle LLP, in New York, N.Y.; and John W. Ames, Esq., C.R.
Bowles, Jr., Esq., and Bruce Cryder, Esq., at Bingham Greenebaum
Doll LLP, in Lexington, Ky., represent the Debtors as counsel.

Attorneys at Foley & Lardner LLP, in Chicago, Ill., represent the
Official Committee of Unsecured Creditors as counsel.  Sturgill,
Turner, Barker & Maloney, PLLC, in Lexington, Ky., represents the
Official Committee of Unsecured Creditors as local counsel. Dixon
Hughes Goodman LLP serves as tax accountants.

Trinity Coal on Nov. 8, 2013 won an order confirming its Chapter
11 plan.  Under the Plan, the company will exit Chapter 11 through
a repurchase by Essar Group, the co-proponent of the Plan.  Essar
is reacquiring Trinity by paying secured lenders $56 million
toward claims of some $123 million.  Essar is an Indian business
group controlled by billionaire brothers Shashikant and Ravikant
Ruia.


TRONOX INC: Trust Opposes Anadarko Kerr-McGee Damages Cuts
----------------------------------------------------------
Tiffany Kary, writing for Bloomberg News, reported that Anadarko
Petroleum Corp. and its Kerr-McGee unit should pay $20.8 billion
for environmental cleanup and related cancers in towns including
Avoca, Pennsylvania, and not be allowed to cut the amount to $850
million, Tronox Inc. creditor trusts and the U.S. said.

According to the report, Anadarko said in January it should owe
$850 million to $4 billion after losing a ruling in a lawsuit
brought by Tronox and the U.S. government. The number is below the
range of $5.2 billion to $14.2 billion, plus attorney's fees,
suggested by U.S. Bankruptcy Judge Allan Gropper in his December
decision.

In court papers filed on Feb. 13, two trusts that represent Tronox
environmental and personal-injury claimants objected to Anadarko's
proposal, as did the U.S. government, the report related.  The
U.S. sought $25 billion to clean 2,772 polluted sites and
compensate about 8,100 people affected by the contamination.

"This would be a windfall to the defendants at the expense of the
tort claimants -- who have suffered enough in defendants' hands,"
according to the trust for people injured by Kerr-McGee's toxins,
the report cited. The trust said it is already scheduled to pay
7,611 claims for cancer, cardiovascular disease and respiratory
ailments, most linked to creosote used in Avoca, which had a
population of 2,664 in 2012.

"The town has lost so many family members to cancers related to
Kerr-McGee," John Babkowski, a 59-year-old Avoca resident, said in
an e-mail, the report further cited.  Both of his parents were
among the victims, Babkowski said.

                       About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection (Bankr. S.D.N.Y. Case No.
09-10156) on Jan. 13, 2009, before Hon. Allan L. Gropper.  Richard
M. Cieri, Esq., Jonathan S. Henes, Esq., and Colin M. Adams, Esq.,
at Kirkland & Ellis LLP in New York, represented the Debtors.  The
Debtors also tapped Togut, Segal & Segal LLP as conflicts counsel;
Rothschild Inc. as investment bankers; Alvarez & Marsal North
America LLC, as restructuring consultants; and Kurtzman Carson
Consultants served as notice and claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders were appointed in the cases.
The Creditors Committee retained Paul, Weiss, Rifkind, Wharton &
Garrison LLP as counsel.

Until Sept. 30, 2008, Tronox was publicly traded on the New
York Stock Exchange under the symbols TRX and TRX.B.  Since then,
Tronox has traded on the Over the Counter Bulletin Board under the
symbols TROX.A.PK and TROX.B.PK.  As of Dec. 31, 2008, Tronox
had 19,107,367 outstanding shares of class A common stock and
22,889,431 outstanding shares of class B common stock.

On Nov. 17, 2010, the Bankruptcy Court confirmed the Debtors'
First Amended Joint Plan of Reorganization under Chapter 11 of the
Bankruptcy Code, dated Nov. 5, 2010.  Under the Plan, Tronox
reorganized around its existing operating businesses, including
its facilities at Oklahoma City, Oklahoma; Hamilton, Mississippi;
Henderson, Nevada; Botlek, The Netherlands and Kwinana, Australia.


USEC INC: Extends Cooperative Agreement with DOE Until April 15
---------------------------------------------------------------
USEC Inc. and its subsidiary American Centrifuge Demonstration,
LLC, entered into Amendment No. 014 to the cooperative agreement
dated June 12, 2012, between the U.S. Department of Energy and
USEC and ACD or the research, development and demonstration
program for the American Centrifuge project.  The Amendment
extends the cooperative agreement to April 15, 2014, and adds an
additional Budget Period ("Budget Period 3") with a period of
Jan. 29, 2014, to April 15, 2014, to the cooperative agreement.
The Amendment provides that the estimated Budget Period 3 Cost is
approximately $28.8 million, with the estimated Budget Period 3
Government Share approximately $23.05 million and the estimated
Budget Period 3 USEC Share approximately $5.76 million.  The
Amendment provides additional government obligated funds of
approximately $5.9 million, bringing total government obligated
funding to approximately $263 million.  The balance of the
Government Share of the estimated Budget Period 3 Cost (which
balance is approximately $17.1 million) is anticipated to be
provided in the near future.

The cooperative agreement provides funding for a cost-share RD&D
program to demonstrate the American Centrifuge technology through
the construction and operation of a commercial demonstration
cascade of 120 centrifuge machines and to sustain the domestic
U.S. centrifuge technical and industrial base for national
security purposes and potential commercialization of the American
Centrifuge technology.  The cooperative agreement provides for 80
percent DOE and 20 percent USEC cost sharing for work performed
during the period June 1, 2012, through April 15, 2014.  DOE's
contribution has been and continues to be incrementally funded.
The Amendment brings the Total Estimated Cost of the Agreement to
$350 million, which was the original estimated total cost of the
program, with the Total Estimated Government Share $280 million
and the Total Estimated USEC Share $70 million.

The Amendment includes an additional milestone requiring the
Company and DOE to agree upon parameters and success criteria to
test a range of cascade operational parameters and configurations
expected to be utilized during enrichment operations.  It also
amends the scope of work to include work related to the additional
cascade testing and to support DOE analysis of the technology.
The other terms and conditions, including the other milestones and
performance indicators under the RD&D program were not changed by
the Amendment.  To date, the Company has achieved or exceeded all
of the milestones and performance indicators on or ahead of
schedule and on or under budget.

The government fiscal year 2014 omnibus appropriations bill passed
by Congress and signed by the President on Jan. 17, 2014,
appropriated $62 million for the RD&D program for the government
fiscal year 2014.  That amount includes $29.3 million that had
been previously provided under the cooperative agreement pursuant
to the continuing resolutions that funded government operations in
government fiscal year 2014 prior to the enactment of the omnibus
appropriations bill.  The omnibus appropriations bill also
provides DOE with authority to transfer up to an additional $56.65
million of funding within DOE's National Nuclear Security
Administration appropriations to fund the RD&D program subject to
further approval of the House and Senate Appropriations
Committees.  To obtain such approvals, the Secretary of Energy
must notify Congress and submit to the Appropriations Committees a
cost-benefit analysis of available and prospective domestic
enrichment technologies for national security needs and the scope,
schedule and cost of the Secretary's preferred option.

There is no assurance that the RD&D program will be extended
beyond April 15, 2014, or that additional funding will be made
available.  DOE's remaining cost share is conditioned upon USEC
continuing to meet all milestones and deliverables on schedule,
USEC continuing to demonstrate to DOE's satisfaction its ability
to meet future milestones, and the availability of such government
funding.

The Company, or its subsidiaries, is also a party to a number of
other agreements or arrangements with the U.S. government.

                          About USEC Inc.

Headquartered in Bethesda, Maryland, USEC Inc. (NYSE: USU) --
http://www.usec.com/-- supplies enriched uranium fuel for
commercial nuclear power plants.

USEC disclosed a net loss of $1.20 billion in 2012 as compared
with a net loss of $491.1 million in 2011.  The Company's balance
sheet at Sept. 30, 2013, showed $1.70 billion in total assets,
$2.16 billion in total liabilities and a $462.1 million
stockholders' deficit.

PricewaterhouseCoopers LLP, in McLean, Virginia, 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 reported net losses and a stockholders'
deficit at Dec. 31, 2012, and is engaged with its advisors and
certain stakeholders on alternatives for a possible restructuring
of its balance sheet, which raise substantial doubt about its
ability to continue as a going concern.

                        Bankruptcy Warning

"A delisting of our common stock by the NYSE and the failure of
our common stock to be listed on another national exchange could
have significant adverse consequences.  A delisting would likely
have a negative effect on the price of our common stock and would
impair stockholders' ability to sell or purchase our common stock.
As of September 30, 2013, we had $530 million of convertible notes
outstanding.  Under the terms of our convertible notes, a
"fundamental change" is triggered if our shares of common stock
are not listed for trading on any of the NYSE, the American Stock
Exchange (now NYSE-MKT), the NASDAQ Global Market or the NASDAQ
Global Select Market, and the holders of the notes can require
USEC to repurchase the notes at par for cash.  We have no
assurance that we would be eligible for listing on an alternate
exchange in light of our market capitalization, stockholders'
deficit and net losses.  Our receipt of a NYSE continued listing
standards notification described above did not trigger a
fundamental change.  In the event a fundamental change under the
convertible notes is triggered, we do not have adequate cash to
repurchase the notes.  A failure by us to offer to repurchase the
notes or to repurchase the notes after the occurrence of a
fundamental change is an event of default under the indenture
governing the notes.  Accordingly, the exercise of remedies by
holders of our convertible notes or the trustee of the notes as a
result of a delisting would have a material adverse effect on our
liquidity and financial condition and could require us to file for
bankruptcy protection," the Company said in its quarterly report
for the period ended Sept. 30, 2013.

                           *     *     *

As reported by the TCR on Dec. 18, 2013, Moody's Investors Service
lowered USEC's Corporate Family Rating (CFR) to Ca from Caa1.  The
downgrade follows announcement that USEC has initiated a debt
restructuring plan and intends to file for reorganization under
Chapter 11 of the Bankruptcy Code.


USG CORP: Boral Joint Venture Delayed Due to Regulatory Process
---------------------------------------------------------------
USG Corporation and Boral Limited continue to progress toward
completion of their 50/50 strategic joint venture.  While
completion was originally anticipated to occur by Jan. 31, 2014,
it is now expected to occur on or before Feb. 28, 2014, due to
additional time being necessary to obtain regulatory approvals.

                       About USG Corporation

Based in Chicago, Ill., USG Corporation -- http://www.usg.com/--
through its subsidiaries, manufactures and distributes building
materials producing a wide range of products for use in new
residential, new nonresidential and repair and remodel
construction, as well as products used in certain industrial
processes.

The company filed for Chapter 11 protection on June 25, 2001
(Bankr. Del. Case No. 01-02094).  When the Debtors filed for
protection from their creditors, they disclosed $3.252 billion in
assets and $2.739 billion in liabilities.  The Debtors emerged
from bankruptcy protection on June 20, 2006.

For the 12 months ended Dec. 31, 2012, the Company incurred a net
loss of $125 million on $3.22 billion of net sales, as compared
with a net loss of $390 million on $2.91 billion of net sales
during the prior year.  The Company's balance sheet at Sept. 30,
2013, showed $3.71 billion in total assets, $3.64 billion in total
liabilities and $72 million total stockholders' equity including
noncontrolling interest.

                            *     *     *

As reported by the TCR on Aug. 15, 2011, Standard & Poor's Ratings
Services lowered its corporate credit rating on USG Corp. to 'B'
from 'B+'.

"The downgrade reflects our expectation that USG's operating
results and cash flow are likely to be strained over the next year
due to the ongoing depressed level of housing starts and still-
weak commercial construction activity," said Standard & Poor's
credit analyst Thomas Nadramia.  "It is now more likely, in
our view, that any meaningful recovery in housing starts may be
deferred until late 2012 or into 2013.  As a result, the risk that
USG's liquidity in the next 12 to 24 months will continue to erode
(and be less than we incorporated into our prior ratings) has
increased.  The ratings previously incorporated a greater
improvement in housing starts, which would have enabled USG to
reduce its negative operating cash flow in 2012 and achieve
breakeven cash flow or better by 2013."

As reported by the TCR on Oct. 30, 2013, Moody's Investors Service
upgraded USG Corp.'s Corporate Family Rating to B3 from Caa1.  The
upgrade reflects better than anticipated overall 3Q13 operating
performance.

In the Sept. 10, 2013, edition of the TCR, Fitch Ratings has
upgraded the ratings of USG Corporation, including the company's
Issuer Default Rating (IDR) to 'B' from 'B-'.  The upgrade
reflects USG's improving profitability and credit metrics this
year and the expectation that this trend continues through at
least 2014.


VIGGLE INC: Buys Dijit, Expands Marketing & Promotions Platform
---------------------------------------------------------------
Viggle Inc. acquired Dijit Media, maker of award-winning
technology that helps consumers search for, find, and set
reminders for their favorite TV shows and movies wherever they are
offered.

Dijit builds and distributes the NextGuide discovery service, a
hyper-personalized programming guide for iOS and on the Web that
helps users answer the question, "What should I watch next?"
NextGuide combines listings from any live TV service with movies
and TV shows that can be found and played on services like Hulu
Plus, Netflix, and iTunes, with rich searching capability, alerts,
and one-click watching.

NextGuide includes the cutting-edge Reminder Button, a
revolutionary technology that allows TV and movie fans to find,
track, and set reminders via emails, text messages or app push
notifications for the shows they plan to watch.  This powerful
piece of functionality also helps networks and other entertainment
properties engage audiences, driving and tracking live TV tune-in.
The Dijit Reminder Button can easily be added anywhere, to any
website, banner ad campaign, mobile app, or social property either
via an HTML link or "embed" code, and functions similar to a
Facebook "Like" button.  It is already integrated with more than
80 shows from four leading TV networks, with another 15 networks
and numerous entertainment properties in testing.  Dijit's tools
will also be available on the Viggle-owned Wetpaint website, which
offers audiences their daily fix of entertainment and celebrity
news with 150+ articles, videos and galleries per day.
Once the service is fully integrated with Viggle, NextGuide users
will be rewarded with Viggle Points, redeemable for real rewards,
just for setting reminders for their favorite shows.  Similarly,
Viggle users will have more options to earn Viggle Points by
leveraging Dijit technology and services.

"Viggle's rapid ascension as the leading marketing and rewards
platform for entertainment just got a lot more robust," said Greg
Consiglio, president and COO of Viggle Inc.  "The addition of
Dijit's exclusive features that can help audiences search for and
then be reminded of what is on and when, and even control their
DVR from anywhere, means fans never have to miss their favorite
shows or movies."

Jeremy Toeman, CEO of Dijit Media commented, "We've had incredible
growth and success since our launch and we're excited to join with
another company that shares our goals - to create a holistic
marketing platform for brands and networks, while giving our users
content and tools they need to take control of their daily
entertainment choices."

The Viggle companies, including Wetpaint, Dijit, and Viggle, had
more than 17 million monthly users in December.
Viggle and Dijit will share more details on the integration in the
coming weeks.

                           About Viggle

New York City-based Viggle Inc. is a loyalty marketing company.
The Company has developed a loyalty program for television that
gives people real rewards for checking into the television shows
they are watching on most mobile operating system.  Viggle users
can redeem their points in the app's rewards catalog for items
such as movie tickets, music, or gift cards.

Viggle incurred a net loss of $91.40 million on $13.90 million of
revenues for the year ended June 30, 2013, as compared with a net
loss of $96.51 million on $1.73 million of revenues during the
prior year.  The Company's balance sheet at Sept. 30, 2013, showed
$16.06 million in total assets, $36.26 million in total
liabilities, $36.83 million in series A convertible redeemable
preferred stock, and a $57.04 million total stockholders' deficit.

BDO USA, 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 suffered recurring losses from operations and at June 30,
2013, has deficiencies in working capital and equity that raise
substantial doubt about its ability to continue as a going
concern.


VILLAGE AT KNAPP'S: International Bank Wants Case Dismissal
-----------------------------------------------------------
Principal secured creditor International Bank of Chicago filed
with the U.S. Bankruptcy Court for the Western District of
Michigan a motion to dismiss The Village at Knapp's Crossing,
LLC's Chapter 11 case or convert it to one under Chapter 7, citing
the lack of progress Debtor has made to reorganize.

In October 2010, IBOC loaned money to Debtor.  Its loan,
approximately $4 million in principal, is secured by certain
property in the Village at Knapp's Crossing development, including
the P.F. Chang's restaurant property, and an assignment of rents
on that property.  The IBOC loan was guaranteed by S. D. Benner
LLC, the sole member of the Debtor, which pledged certain property
owned by Benner I - 1410 28th St., and the rents generated
therefrom, in support of its guarantee.

At the time the IBOC loan was made, Comerica Bank had a first
mortgage on the 1410 Property and its rents, but subordinated its
first lien on the property and rents to the newly-granted lien to
IBOC.  The subordination is to last until the P.F. Chang's
restaurant meets certain financial performance standards, which
have not yet been met.  The IBOC loan has also been guaranteed by
Steven Benner personally.

On Nov. 27, 2013, the Debtor filed a plan of reorganization and a
disclosure statement.  Four parties filed separate objections to
the Disclosure Statement.  These included the United States
Trustee, Comerica Bank, First Community Bank, and IBOC.  These
objections pointed out serious flaws and inadequacies to both the
Disclosure Statement and the underlying Plan.  Parties complained
that the Plan and Disclosure Statement counted revenues from the
1410 Property, even though it was not part of the bankruptcy
estate; that the projections did not work in any event; and that
the Plan appeared to presuppose significant post-confirmation
development of the Debtor's property, without providing any source
for financing this development.  "Perhaps even more importantly,
the Disclosure Statement failed to address Benner I's impending
default in its bankruptcy case, and the likely results of that
default," IBOC said in its Feb. 12, 2014 court filing.

The Debtor announced its intent to file an amended Plan and
Disclosure Statement which would address the noted deficiencies by
Feb. 19, 2014.  The Court, by agreement, continued the hearing on
approval of the Disclosure Statement to March 5, 2014, at
2:00 p.m.  The Court also set for March 5, 2014, at 2:00 p.m. the
hearing on the Debtor's motion to use cash collateral.

After Comerica filed its motion for conversion of the Chapter 11
case to Chapter 7, William Tishkoff -- counsel for the Debtor --
told IBOC's counsel, Robert Nachman, that he believed it would be
either impossible or a waste of time for Debtor to file an amended
plan or disclosure statement until the future of Benner I could be
determined.  "On information and belief, Debtor does not intend to
file an amended plan or disclosure statement by Feb. 17, but
intends to ask the Court to postpone a hearing on the Disclosure
Statement until after Comerica's Conversion Motion is ruled upon,"
IBOC stated.

IBOC is represented by:

         BARACK FERRAZZANO KIRSCHBAUM & NAGELBERG LLP
         William J. Barrett, Esq.
         Robert D. Nachman, Esq.
         200 West Madison Street, Suite 3900
         Chicago, IL 60606
         Tel: (312) 629-5175
         E-mail: william.barrett@bfkn.com
                 robert.nachman@bfkn.com

                 - and -

         DYKEMA GOSSETT PLLC
         Melissa C. Brown, Esq.
         300 Ottawa Avenue, N.W., Suite 700
         Grand Rapids, MI 49503-2306
         Tel: (616) 776-7566
         E-mail: mbrown@dykema.com

               About The Village at Knapp's Crossing

The Village at Knapp's Crossing, L.L.C. in Grand Rapids, Michigan,
filed for Chapter 11 (Bankr. W.D. Mich. Case No. 13-06094) on
July 25, 2013.  Judge Scott W. Dales presides over the case.

The Debtor has scheduled $65,109,523 in total assets and
$7,419,217 in total liabilities.  The petition was signed by
Steven D. Benner, managing member on behalf of S.D. Benner, sole
member.

Lawyers at Tishkoff & Associates PLLC, led by William G. Tishkoff,
Esq., serve as the Debtor's counsel.  John S. Huizinga CPA serves
as accountants.

In November 2013, Daniel M. McDermott, U.S. Trustee for Region 9,
dropped his bid to convert the Debtor's Chapter 11 case to one
under Chapter 7 of the Bankruptcy Code.

In December 2013, the Debtor filed a plan of reorganization that
proposes to repay claims from funds generated by continued
operations and the possible sale of certain properties of the
Debtor.  A copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/Village_At_Knapps_DS.pdf

The U.S. Trustee and creditor First Community Bank filed
objections to the Plan.  The Court will convene a hearing Jan. 15,
2014, at 2:00 p.m., to consider the adequacy of information in the
Disclosure Statement explaining the Debtor's Plan.

FCB is represented by Thomas G. King, Esq., at Kreis, Enderle,
Hudgins & Borsos, P.C.


VERTIS INC: Seeks Final Extension of Exclusive Periods
------------------------------------------------------
Vertis Holdings, Inc., et al., ask the U.S. Bankruptcy Court for
the District of Delaware to extend until April 14, 2014, their
exclusive period to file a plan and until June 12, 2014, their
exclusive period to solicit acceptances of that plan.

The Debtors seek the extensions to ensure that the final
disposition of the Chapter 11 cases take into account the best
interests of the Debtors, their creditors, and their estates.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
pointed out that this will be the Debtors' final request for
exclusivity extension as the April 14 date is the longest period
Congress permits before any creditor can file a plan.

A hearing on the extension request will be on March 14, 2014, at
11:00 a.m.  Objections are due Feb. 18.

The Debtors are represented by Mark D. Collins, Esq., and Jason M.
Madron, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware; and Christopher J. Updike, Esq., at Cadwalader,
Wickersham & Taft LLP, in New York.

                      About Vertis Holdings

Vertis Holdings Inc. -- http://www.thefuturevertis.com/--
provides advertising services in a variety of print media,
including newspaper inserts such as magazines and supplements.

Vertis and its affiliates (Bankr. D. Del. Lead Case No. 12-12821),
returned to Chapter 11 bankruptcy on Oct. 10, 2012, this time to
sell the business to Quad/Graphics, Inc., for $258.5 million,
subject to higher and better offers in an auction.

As of Aug. 31, 2012, the Debtors' unaudited consolidated financial
statements reflected assets of approximately $837.8 million and
liabilities of approximately $814.0 million.

Bankruptcy Judge Christopher Sontchi presides over the 2012 case.
Vertis is advised by Perella Weinberg Partners, Alvarez & Marsal,
and Cadwalader, Wickersham & Taft LLP.  Quad/Graphics is advised
by Blackstone Advisory Partners, Arnold & Porter LLP and Foley &
Lardner LLP, special counsel for antitrust advice.  Kurtzman
Carson Consultants LLC is the Debtors' claims agent.

Quad/Graphics is a global provider of print and related
multichannel solutions for consumer magazines, special interest
publications, catalogs, retail inserts/circulars, direct mail,
books, directories, and commercial and specialty products,
including in-store signage. Headquartered in Sussex, Wis. (just
west of Milwaukee), the Company has approximately 22,000 full-time
equivalent employees working from more than 50 print-production
facilities as well as other support locations throughout North
America, Latin America and Europe.

Vertis first filed for bankruptcy (Bankr. D. Del. Case No. 08-
11460) on July 15, 2008, to complete a merger with American Color
Graphics.  ACG also commenced separate bankruptcy proceedings.  In
August 2008, Vertis emerged from bankruptcy, completing the
merger.

Vertis against filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 10-16170) on Nov. 17, 2010.  The Debtor estimated its
assets and debts of more than $1 billion.  Affiliates also filed
separate Chapter 11 petitions -- American Color Graphics, Inc.
(Bankr. S.D.N.Y. Case No. 10-16169), Vertis Holdings, Inc. (Bankr.
S.D.N.Y. Case No. 10-16170), Vertis, Inc. (Bankr. S.D.N.Y. Case
No. 10-16171), ACG Holdings, Inc. (Bankr. S.D.N.Y. Case No. 10-
16172), Webcraft, LLC (Bankr. S.D.N.Y. Case No. 10-16173), and
Webcraft Chemicals, LLC (Bankr. S.D.N.Y. Case No. 10-16174).  The
bankruptcy court approved the prepackaged Chapter 11 plan on Dec.
16, 2010, and Vertis consummated the plan on Dec. 21.  The plan
reduced Vertis' debt by more than $700 million or 60%.

GE Capital Corporation, which serves as DIP Agent and Prepetition
Agent, is represented in the 2012 case by lawyers at Winston &
Strawn LLP.  Morgan Stanley Senior Funding Inc., the agent under
the prepetition term loan, and as term loan collateral agent, is
represented by lawyers at White & Case LLP, and Milbank Tweed
Hadley & McCloy LLP.

On Jan. 16, 2013, Quad/Graphics completed the acquisition of
Vertis Holdings for a net purchase price of $170 million.  This
assumes the purchase price of $267 million less the payment of $97
million for current assets that are in excess of normalized
working capital requirements.


VYCOR MEDICAL: Issues Additional $1.7 Million Units
---------------------------------------------------
Vycor Medical, Inc., completed on Jan. 31, 2013, the sale of an
additional $1,784,200 in units comprising shares of common stock
and Series A and Series B Warrants to accredited investors in a
private placement.

The Units were issued pursuant to separate Securities Purchase
Agreements between the Company and each of the Investors.  This
sale is a second closing of a continuing offering which allows for
maximum proceeds of $5,000,000.  Together with the sale of
$1,276,900 in Units sold in the Initial Closing on Jan. 4, 2014, a
total of $3,061,100 in Units has been sold in the Offering to
date.

Each Unit was priced at $1.80 and comprised of one share of Common
Stock, a series A warrant and a series B warrant.  Each Investor
received (i) 3-year detachable Series A Warrants to purchase a
number of shares of Common Stock equal to 50 percent of the number
of Shares purchased by that investor and (ii) 3-year detachable
Series B Warrants to purchase a number of shares of Common Stock
equal to 50 percent of the number of Shares purchased by that
investor.  The Series A Warrants will have an exercise price per
share of $2.05.  The Series B Warrants will have an exercise price
per share of $3.08.  The Warrants are subject to adjustment for
stock splits, stock dividends or recapitalizations.

The Company engaged a placement agent in connection with this
Offering.  The Placement Agent received (i) a cash placement fee
equal to 8 percent of the gross proceeds of the Second Closing,
(ii) an advisory fee equal to 1 percent of the gross proceeds of
the Second Closing, (iii) a non-accountable administrative fee
equal to 1 percent of the gross proceeds of the Second Closing and
(iv) warrants to purchase a number of shares of Common Stock equal
to 15 percent of Shares sold in the Second Closing by the
Placement Agent.  The Placement Agent Warrants will be exercisable
until the 3-year anniversary of the date of the closing of this
Second Closing and have an exercise price equal to the exercise
price of the Series A Warrants.

The Company simultaneously entered into a Registration Rights
Agreement with the Investors with respect to the Shares and shares
of Common Stock underlying the Warrants.

                         About Vycor Medical

Boca Raton, Fla.-based Vycor Medical, Inc. (OTC BB: VYCO)
-- http://www.VycorMedical.com/-- is a medical device company
committed to making neurological brain, spinal and other surgical
procedures safer and more effective.  The Company's flagship,
Patent Pending ViewSite(TM) Surgical Access Systems represent an
exciting new minimally invasive access and retraction system that
holds the potential for speedier, safer and more economical brain,
spinal and other surgeries and a quicker patient discharge.
Vycor's innovative medical instruments are designed to optimize
neurosurgical site access, reduce patient risk, accelerate
recovery, and add tangible value to the professional medical
community.

Vycor Medical disclosed a net loss of $2.92 million in 2012, as
compared with a net loss of $4.77 million in 2011.  The Company's
balance sheet at Sept. 30, 2013, showed $2.26 million in total
assets, $5.08 million in total liabilities and a $2.82 million
total stockholders' deficiency.

Paritz & Company, P.A., in Hackensack, New Jersey, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has incurred a loss since inception, has a net
accumulated deficit and may be unable to raise further equity
which factors raise substantial doubt about its ability to
continue as a going concern.


WAFERGEN BIO-SYSTEMS: Merlin BioMed Stake at 9.98% at Dec. 31
-------------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Merlin BioMed Private Equity Advisors, LLC,
and its affiliates disclosed that as of Dec. 31, 2013, they
beneficially owned 909,708 shares of common stock of Wafergen
Biosystems, Inc., representing 9.98 percent of the shares
outstanding.  A copy of the regulatory filing is available for
free at http://is.gd/381tH5

                     About WaferGen Bio-systems

Fremont, California-based WaferGen Bio-systems, Inc., engages in
the development of systems for gene expression quantification,
genotyping and stem cell research.  Since 2008, the Company's
primary focus has been on the development, manufacture and
marketing of its SmartChip System, a genetic analysis platform
used for profiling and validating molecular biomarkers in the life
sciences and pharmaceutical drug discovery industries.

The Company reported a net loss of $8.2 million on $586,000 of
revenue in 2012, net loss of $13.1 million on $523,000 of revenue
in 2011.

As reported in the TCR on April 11, 2013, SingerLewak LLP, in San
Jose, California, expressed substantial doubt about WaferGen Bio-
systems' ability to continue as a going concern, citing the
Company's operating losses and negative cash flows since
inception.

The Company's balance sheet at Sept. 30, 2013, showed
$15.75 million in total assets, $5.80 million in total
liabilities, $4.02 million in series A and B convertible
preference shares of subsidiary, and $5.93 million in total
stockholders' equity.


WEST CORP: Inks 4th Amendment to Wells Fargo Credit Agreement
-------------------------------------------------------------
West Corporation has received lender consent to amend the credit
agreement governing its senior secured credit facilities by
entering into Amendment No. 4 to the Amended and Restated Credit
Agreement, dated as of Oct. 5, 2010, by and among West, Wells
Fargo, National Association, as administrative agent, and the
various lenders.

The amendment to the credit agreement is expected to reduce the
applicable margins of all term loans by 25 basis points and lower
the LIBOR and base rate floors of all term loans by 25 basis
points.

Upon closing, the Company expects to have outstanding the
following term loan tranches:

   * Approximately $2.1 billion of term loans due 2018 at a rate
     of LIBOR + 2.50% with a 0.75% LIBOR floor (base rate loans to
     be at a rate of base rate + 1.50% with a 1.75% base rate
     floor)

   * Approximately $0.3 billion term loans due 2016 at a rate of
     LIBOR + 2.00% with a 0.75% LIBOR floor (base rate loans to be
     at a rate of base rate + 1.00% with a 1.75% base rate floor)

Completion of the amendment is subject to customary closing
conditions.

A full-text copy of the Amendment No. 4 to Amended and Restated
Credit Agreement is available for free at http://is.gd/Ql96oE

                      About West Corporation

Founded in 1986 and headquartered in Omaha, Nebraska, West
Corporation -- http://www.west.com/-- provides outsourced
communication solutions to many of the world's largest companies,
organizations and government agencies.  West Corporation has a
team of 41,000 employees based in North America, Europe and Asia.

The Company's balance sheet at Sept. 30, 2013, showed $3.48
billion in total assets, $4.26 billion in total liabilities and a
$782.60 million total stockholders' deficit.

                        Bankruptcy Warning

"If we cannot make scheduled payments on our debt, we will be in
default, and as a result:

   * our debt holders could declare all outstanding principal and
     interest to be due and payable;

   * the lenders under our Senior Secured Credit Facilities could
     terminate their commitments to lend us money and foreclose
     against the assets securing our borrowings; and

   * we could be forced into bankruptcy or liquidation," the
     Company said in its quarterly report for the period ended
     Sept. 30, 2013.


WEST HAVEN LUMBER: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: The West Haven Lumber Company
        741 Washington Avenue
        West Haven, CT 06511

Case No.: 14-30246

Chapter 11 Petition Date: February 12, 2014

Court: United States Bankruptcy Court
       District of Connecticut (New Haven)

Judge: Hon. Julie A. Manning

Debtor's Counsel: James G. Verrillo, Esq.
                  ZELDES, NEEDLE & COOPER, P.C.
                  1000 Lafayette Boulevard
                  Bridgeport, CT 06604
                  Tel: 203-333-9441
                  Fax: 203-333-1489
                  Email: jverrillo@znclaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lawrence M. Shanbrom, vice president.

The Debtor did not file a list of its largest unsecured creditors
when it filed the petition.


WESTMORELAND COAL: Prices Add-On Offering of $425MM Senior Notes
----------------------------------------------------------------
Westmoreland Coal Company has priced a private offering of $425
million principal amount of Add-On 10.75 percent Senior Secured
Notes due 2018 at a price of 106.875 percent plus accrued interest
from Feb. 1, 2014.  The company increased the size of the offering
from the previously announced $400 million.

On Jan. 29, 2014, Westmoreland Escrow Corporation, a wholly-owned
subsidiary of Westmoreland Coal Company, entered into a purchase
agreement with BMO Capital Markets Corp. and Deutsche Bank
Securities Inc., with respect to the issuance and sale by the
Escrow Company of $425 million in aggregate principal amount of
senior secured notes.

The proceeds from the notes offering will be used primarily to pay
the purchase price and related expenses for Westmoreland's
previously announced acquisition of the coal mining operations of
Sherritt International Corporation, to prepay the outstanding
senior secured notes issued by its subsidiary, Westmoreland
Mining, LLC and for working capital.  The offering is expected to
close on Feb. 7, 2014, subject to customary closing conditions.

A copy of the Purchase Agreement is available for free at:

                        http://is.gd/xv60tA

                      About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

Westmoreland Coal incurred a net loss of $13.66 million in 2012, a
net loss of $36.87 million in 2011, and a net loss of $3.17
million in 2010.  The Company's balance sheet at Sept. 30, 2013,
showed $939.83 million in total assets, $1.22 billion in total
liabilities and a $280.31 million total deficit.

                           *     *     *

As reported by the TCR on Nov. 6, 2012, Standard & Poor's
Ratings Services raised its corporate credit rating on Englewood,
Co.-based Westmoreland Coal Co. (WLB). to 'B-' from 'CCC+'.

"The upgrade reflects our view that WLB is less vulnerable to
default after successfully negotiating less restrictive covenant
requirements for an unrated $110 million term loan due 2018," said
credit analyst Gayle Bowerman.  "Our assessment of WLB's business
risk profile as 'vulnerable' and financial risk profile as 'highly
leveraged' are unchanged.  We also revised our liquidity score to
'adequate' based on the covenant relief and additional liquidity
provided under the company's new $20 million asset-based loan
(ABL) facility from 'less than adequate'."

Westmoreland Coal carries a Caa1 corporate family rating from
Moody's Investors Service.


YELLOWSTONE MOUNTAIN: Blixseth Assessed $13.8MM for Contempt
------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Timothy Blixseth, the former owner of the bankrupt
Yellowstone Mountain Club LLC, was held in contempt and told to
pay at least $13.8 million to creditors after violating a court
order barring him from selling a resort in Mexico.

The report related that the club filed for Chapter 11 protection
in 2008 and won confirmation of a liquidating plan in June 2009,
selling the property to CrossHarbor Capital Partners LLC for $115
million.  The creditors learned that in the year before it filed
Chapter 11, the club transferred to Blixseth a resort property in
Mexico known as Tamarindo. In June 2009, the bankruptcy judge
entered an injunction barring Blixseth from transferring the
property, so it would be available should creditors to win a
fraudulent-transfer suit.

According to the report, the creditors' trust created under the
plan sued Blixseth in September 2009 to recover the Mexico
property and other assets they claimed had been fraudulently
transferred. The case was moved to U.S. District Judge Sam E.
Haddon in Butte, Montana.  Late last year, the creditors' trustee
obtained what he said was proof that Blixseth had sold the Mexico
property for $13.8 million, in violation of the injunction.

Judge Haddon held Blixseth in contempt on Feb. 3, for committing a
"deliberate, calculated" violation of the bankruptcy court
injunction, the report related.

"Extreme sanction is both warranted and mandated," Judge Haddon
said, the report cited.  He said Blixseth gave no justification or
excuse for his violation of the injunction.

The case is Glasser v. Blixseth (In re Yellowstone Mountain Club
LLC), 13-cv-68, U.S. District Court, District of Montana (Butte).

                      About Yellowstone Mountain

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --
http://www.theyellowstoneclub.com/-- is a private golf and ski
community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Club and its affiliates filed for Chapter 11
bankruptcy (Bankr. D. Montana, Case No. 08-61570) on Nov. 10,
2008.  The Company's owner affiliate, Edra D. Blixseth, filed
a separate Chapter 11 petition on March 27, 2009 (Case No.
09-60452).

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC represented Yellowstone.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer; and James H. Cossitt, Esq., as counsel.  Credit Suisse,
the prepetition first lien lender, was represented by Skadden,
Arps, Slate, Meagher & Flom.

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners LLC acquired equity ownership in the reorganized
Club for $115 million.

Marc S. Kirschner, Esq., was appointed the Trustee of the
Yellowstone Club Liquidating Trust created under the Plan.


YP HOLDINGS: Moody's Affirms 'B2' CFR Over Term Loan Add-on
-----------------------------------------------------------
Moody's Investors Service said the B2 corporate family rating of
YP Holdings LLC is affirmed following the company's proposed
offering to upsize its recently launched term loan to $250 million
from $200 million. The additional proceeds will be used to pay a
distribution to shareholders and to pay related fees and expenses.

Ratings Rationale

YP's B2 CFR is supported by its position as the largest print and
digital yellow pages business in the U.S. with predictable near-
to-medium term profitability due to the contractual nature of the
yellow page business model. In addition, a fairly large and
growing digital advertising business, solid-but-declining EBITDA
margins, modest leverage, a conservative financial policy, and our
expectation for fairly rapid deleveraging support the rating.
Because the business has very low capital intensity with capital
expenditures typically being below 3% of revenues, significant
free cash flow is generated by its geographically diverse
portfolio of assets. These strengths are offset by the fairly
rapid secular decline in the print directory segment, which
accounts for about 60% of revenues, generally low barriers to
entry for digital advertising (however, YP enjoys some advantages
due to the size of its sales force, volume of traffic and number
of advertisers) and expanding competitive challenges.

The stable outlook is based on Moody's view that the company will
continue to execute crisply from an operational perspective and
that the vast majority of free cash flow will be applied to debt
reduction.

The ratings are unlikely to be upgraded due to the secular decline
of the print business and low barriers to entry in the digital
segment.

The ratings could be lowered if the print business erodes faster
than expected (about 20% per year) or the digital business fails
to grow leading to a more rapid decline in free cash flow and less
debt reduction than currently contemplated. Also, any event that
delays a swift decline in leverage (Debt to EBITDA approaching
1.5x for the year ended December 31, 2015) could result in a
rating downgrade.


YP HOLDINGS: S&P Keeps 'B' Rating on $1BB Loan After Debt Upsize
----------------------------------------------------------------
Standard & Poor's Ratings Services said that the ratings and
outlook on YP Holdings LLC are unchanged following the company's
$50 million increase to its $200 million incremental term loan
announced Feb. 3, 2014.

The company has stated that it will use the net proceeds from the
now $250 million incremental term loan to fund a special dividend
to its shareholders.

Although recovery prospects for the term loan lenders diminish
because of the facility upsize, the recovery rating on that debt
instrument remains '4', indicating S&P's expectation for average
(30%-50%) recovery of principal in the event of a payment default.

RATINGS LIST

YP Holdings LLC
Corporate Credit Rating          B/Stable/--

Ratings Unchanged

YP Holdings LLC
Senior Secured
  $1.025B* term loan              B
   Recovery Rating                4

* Following $50M amount increase.


YRC WORLDWIDE: Teamsters Extends CBA Until March 2019
-----------------------------------------------------
YRC Worldwide Inc.'s employees represented by the International
Brotherhood of Teamsters overwhelmingly ratified an extension of
its collective bargaining agreement to March 2019.

"My deepest thanks to our employees for their continued commitment
to moving YRC Worldwide forward and putting us on the road to once
again becoming a North American LTL industry leader.  With this
MOU extension, we took another significant step toward providing
our employees the job security they deserve while providing our
prospective lenders and equity investors the path they need for
the company to achieve a complete recapitalization and achieve a
healthy capital structure," stated James Welch, chief executive
officer of YRC Worldwide.  "The five-year extension includes
important customer service enhancements, cost savings and a profit
sharing plan for eligible IBT employees that is dependent on
operating performance and our ability to become more competitive
in the market place," added Welch.

"We now move ahead with some of the most experienced
transportation professionals in the industry and a more
competitive wage and benefits package that will enable us to
attract new members to our growing team.  YRC Freight, Holland,
Reddaway and New Penn emerge from this process with a renewed
focus on achieving best-in-class performance in order to deliver
great operating results for customers, employees and
shareholders," concluded Welch.

                       About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

For the year ended Dec. 31, 2012, the Company incurred a net loss
of $136.5 million on $4.85 billion of operating revenue, as
compared with a net loss of $354.4 million on $4.86 billion of
operating revenue during the prior year.  As of Sept. 30, 2013,
the Company had $2.13 billion in total assets, $2.79 billion in
total liabilities and a $665.8 million total shareholders'
deficit.

                           *     *     *

As reported by the TCR on Aug. 2, 2013, Moody's Investors Service
affirmed the rating of YRC Worldwide, Inc., corporate family
rating at Caa3.  The ratings outlook is has been changed to
positive from stable.

"The positive ratings outlook recognizes the important progress
that YRCW has made in restoring positive operating margins through
implementation of yield management initiatives, during a period of
stabilizing demand in the less than truckload ('LTL') segment,"
the report stated.

In August 2011, Standard & Poor's Ratings Services raised its
corporate credit rating on YRC Worldwide Inc. to 'CCC' from 'SD'
(selective default), after YRC completed a financial
restructuring.  Outlook is stable.


YRC WORLDWIDE: Avenue Partners Amends Schedule 13D with SEC
-----------------------------------------------------------
Avenue Investments, L.P., Avenue Partners, LLC, Avenue
International Master, L.P., et al., filed an amended Schedule 13D
with the U.S. Securities and Exchange Commission to add the
following statement:

     "On January 27, 2014, the Avenue Purchasers and the Issuer
      entered into that certain amendment to the Stock Purchase
      Agreement (the "Stock Purchase Agreement Amendment"),
      pursuant to which the Avenue Purchasers and the Issuer
      agreed that the obligations of the Avenue Purchasers to
      consummate the Transaction is subject to, among other
      things, the satisfaction of the conditions precedent to the
      effectiveness of the new proposed extension agreement
      between Issuer and the Teamsters National Freight Industry
      Negotiating Committee of the International Brotherhood of
      Teamsters ("TNFINC"), as approved for presentation by TNFINC
      on January 17, 2014, rather than the satisfaction of the
      conditions precedent to the proposed extension agreement
      between the Issuer and TNFINC, as presented to TNFINC on
      December 6, 2013."

Avenue Capital Management II GenPar, LLC, et al., disclosed that
as of Jan. 27, 2014, they beneficially owned 1,738,391 shares of
common stock of YRC Worldwide Inc. representing 13.73 percent of
the shares outstanding.

A copy of the regulatory filing is available for free at:

                        http://is.gd/Wt3s5Z

                        About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

For the year ended Dec. 31, 2012, the Company incurred a net loss
of $136.5 million on $4.85 billion of operating revenue, as
compared with a net loss of $354.4 million on $4.86 billion of
operating revenue during the prior year.  As of Sept. 30, 2013,
the Company had $2.13 billion in total assets, $2.79 billion in
total liabilities and a $665.8 million total shareholders'
deficit.

                           *     *     *

As reported by the TCR on Aug. 2, 2013, Moody's Investors Service
affirmed the rating of YRC Worldwide, Inc., corporate family
rating at Caa3.  The ratings outlook is has been changed to
positive from stable.

"The positive ratings outlook recognizes the important progress
that YRCW has made in restoring positive operating margins through
implementation of yield management initiatives, during a period of
stabilizing demand in the less than truckload ('LTL') segment,"
the report stated.

In August 2011, Standard & Poor's Ratings Services raised its
corporate credit rating on YRC Worldwide Inc. to 'CCC' from 'SD'
(selective default), after YRC completed a financial
restructuring.  Outlook is stable.


YRC WORLDWIDE: Amends Agreements with Carlyle
---------------------------------------------
Carlyle Strategic Partners II, L.P., and CSP II Coinvestment,
L.P., entered into an Exchange Agreement Amendment with YRC
Worldwide, Inc.,, and CSP III AIV (Cayman), L.P., an affiliate of
the Reporting Persons, entered into the Stock Purchase Agreement
Amendment with the YRC Worldwide.

Pursuant to each of the Amendments, CSP II, CSP II Coinvest and
CSP III agreed that each of their respective obligations to
consummate the transactions contemplated by the Exchange Agreement
and the Stock Purchase Agreement would be subject to, among other
things, the satisfaction of the conditions precedent to the
effectiveness of the new proposed extension agreement between
Company and the Teamsters National Freight Industry Negotiating
Committee of the International Brotherhood of Teamsters, as
approved for presentation by TNFINC on Jan. 17, 2014, rather than
the satisfaction of the conditions precedent to the proposed
extension agreement between the Company and TNFINC, as presented
to TNFINC on Dec. 6, 2013.

A copy of the regulatory filing is available for free at:

                        http://is.gd/NRSXNd

                         About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

For the year ended Dec. 31, 2012, the Company incurred a net loss
of $136.5 million on $4.85 billion of operating revenue, as
compared with a net loss of $354.4 million on $4.86 billion of
operating revenue during the prior year.  As of Sept. 30, 2013,
the Company had $2.13 billion in total assets, $2.79 billion in
total liabilities and a $665.8 million total shareholders'
deficit.

                           *     *     *

As reported by the TCR on Aug. 2, 2013, Moody's Investors Service
affirmed the rating of YRC Worldwide, Inc., corporate family
rating at Caa3.  The ratings outlook is has been changed to
positive from stable.

"The positive ratings outlook recognizes the important progress
that YRCW has made in restoring positive operating margins through
implementation of yield management initiatives, during a period of
stabilizing demand in the less than truckload ('LTL') segment,"
the report stated.

In August 2011, Standard & Poor's Ratings Services raised its
corporate credit rating on YRC Worldwide Inc. to 'CCC' from 'SD'
(selective default), after YRC completed a financial
restructuring.  Outlook is stable.


YRC WORLDWIDE: Amici Capital Stake at 8.1% as of Jan. 24
--------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, Amici Capital, LLC, and its affiliates disclosed that
as of Jan. 24, 2014, they beneficially owned 889,978 shares of
common stock of YRC Worldwide Inc. representing 8.1 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/4Aqr3l

                        About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

For the year ended Dec. 31, 2012, the Company incurred a net loss
of $136.5 million on $4.85 billion of operating revenue, as
compared with a net loss of $354.4 million on $4.86 billion of
operating revenue during the prior year.  As of Sept. 30, 2013,
the Company had $2.13 billion in total assets, $2.79 billion in
total liabilities and a $665.8 million total shareholders'
deficit.

                           *     *     *

As reported by the TCR on Aug. 2, 2013, Moody's Investors Service
affirmed the rating of YRC Worldwide, Inc., corporate family
rating at Caa3.  The ratings outlook is has been changed to
positive from stable.

"The positive ratings outlook recognizes the important progress
that YRCW has made in restoring positive operating margins through
implementation of yield management initiatives, during a period of
stabilizing demand in the less than truckload ('LTL') segment,"
the report stated.

In August 2011, Standard & Poor's Ratings Services raised its
corporate credit rating on YRC Worldwide Inc. to 'CCC' from 'SD'
(selective default), after YRC completed a financial
restructuring.  Outlook is stable.


YSC INC: Owners Retain Equity Under Reorganization Plan
-------------------------------------------------------
YSC Inc. has filed a disclosure statement in support of its
reorganization plan dated Jan. 30, 2014, with the Bankruptcy Court
for the Western District of Washington.

The Debtor's Comfort Inn is subject to a purchase and sale
agreement for $7,500,000 and may receive additional offers from
other potential buyers.  The Debtor has filed a separate motion to
approve the sale of its personal property wherein the court may
approve the highest and best purchase and sale agreement.  In the
interim, the Debtor will continue to operate the Comfort Inn and
make payments from the revenue until the sale closes.  The Debtor
will also continue to operate the Ramada Inn throughout the period
of the plan, and will fund the plan from the revenue until the
Ramada Inn is sold or refinanced.

The classification and treatment of claims under the plan are:

A. Class 1 (Administrative Claims) which is unimpaired and will be
   paid on the effective date of the plan or through its pro-rata
   share with Class Twelve of the initial plan payments of $2,000
   per month until the allowed claims are paid in full.

B. Class Two (Wilshire Bank) holds the third deed of trust on the
   Comfort Inn property and is owed $2,866,067 as of the petition
   date.  Contractual monthly payments to Classes 2 will continue
   until the Comfort Inn sale closes, at which point the Class 2's
   allowed claims for liens on the Comfort Inn will be paid in
   full from the sale proceeds.

C. Class 3 (U.S. Small Business Administration) holds the second
   deed of trust on the Comfort Inn property and owed is owed
   $1,530,000.  Contractual monthly payments to Classes 3 shall
   continue until the Comfort Inn sale closes, at which point the
   Class 3's allowed claims for its liens on the Comfort Inn will
   be paid in full from the sale proceeds.

D. Class 4 (Whidbey Island Bank) holds the third deed of trust on
   the Comfort Inn property is owed $13,261,564.20.  The Debtor
   estimates that Class Four will receive approximately $2,690,990
   and will pay the remaining balance owing to Class Four of
   $10,570,574.20 on a 30 year amortization at 6.25% interest,
   which results in monthly payments of $65,085, over 5 years from
   the operating revenue of the Ramada Inn.

E. Class 5 (King County) will be paid from the sale proceeds.

F. Class 6 (Thurston County) is owed pre-petition personal
   property taxes of $2,537.07 and will be paid as due.

G. Class 7 (Great American Financial Services Corporation) is owed
   $8,405.20 per the proof of claim filed and will continue to
   receive monthly payments pursuant to contract as they come due.

H. Class Eight (Persona) is owed approximately $18,424 and will
   continue to receive monthly payments pursuant to contract as
   they come due.

I. Class 9 (Marlin Business Bank) is owed $6,493.42 as of the
   petition date and will continue to receive monthly payments
   pursuant to contract as they come due.

J. Class 10 (Wyndham/Ramada Worldwide Inc.) is owed approximately
   $92,633.90 in arrears.  The Debtor will pay the ongoing
   franchise license fee to Class 10 as it becomes due each month
   pursuant to contract, and will pay an additional $10,000 by
   September 1st of each year on the past-due amount until Class
   10 is brought current.

K. Class 11 (Choice Hotels International, Inc.) filed a proof of
   claim based on potential liquidated damages if the contract is
   rejected, not an actual balance owing.  The Debtor is current
   on the franchise fee and the creditor continue to receive its
   monthly franchise fees as due

L. Class 12 (US Foods, Inc.) is owed $102.71 as a general, non-
   priority claim.  The creditor will be paid in full through its
   pro-rata share of the monthly plan payments of $2,000, to be
   shared with Class One's allowed claims

M. Class 13 (General unsecured creditors) are owed $506,560.52
   and will receive full payment without interest.

N. Class 14 consists of the equity interests of Sang Il Yim and
   Chan Sook Yim and will retain their interest in the Debtor.

A copy of the disclosure statement is available for free at:

     http://bankrupt.com/misc/YSC72ds.pdf

A copy of the reorganization plan is available for free at:

     http://bankrupt.com/misc/YSC73plan.pdf

                          About YSC Inc.

YSC Inc., owner of a Comfort Inn in Federal Way, Washington, and a
Ramada Inn in Olympia, Washington, filed a petition for Chapter 11
protection (Bankr. W.D. Wash. Case No. 13-17946) on Aug. 30, 2013,
in Seattle.

The owner listed the hotels as worth $17.9 million.  Total debt is
$18.5 million, including $18 million in secured debt.  Among
mortgage holders, Whidbey Island Bank is owed $13.3 million.


YSC INC: May Use Cash Collateral Through March 2014
---------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Washington
issued a sixth interim order authorizing YSC, Inc.'s use of cash
collateral in which Wilshire State Bank and Whidbey Island Bank
assert an interest.

A further hearing on the Debtor's use of cash collateral will be
held March 7, 2014, at 9:30 a.m.

As specified on the budget, the monthly paychecks for the Debtors'
two principals, Sang and Chan Yim, and their two sons, Daniel and
Seung Yim, will be limited to an aggregate of $8,100 per month
from the Comfort Inn and to an aggregate of $8,600 per month from
the Ramada Inn.  The principals and their two sons may divide and
allocate the allowed compensation among themselves as they see fit
long as these four individuals' total receipts for the month do
not exceed the amounts.

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

Pursuant to the order, the Debtor will also continue to make its
monthly contractual payment of $19,402 to Wilshire Bank pursuant
to the terms of its loan documents.  The Debtor will pay the
pre-maturity contractual payment of $96,308 to Whidbey Island Bank
by Jan. 1, 2014.  The Debtor will also continue to make the
contractual payment of approximately $15,400 on the SBA's
second-position deed of trust pursuant to the terms of the loan,
which is current.

                          About YSC Inc.

YSC Inc., owner of a Comfort Inn in Federal Way, Washington, and a
Ramada Inn in Olympia, Washington, filed a petition for Chapter 11
protection (Bankr. W.D. Wash. Case No. 13-17946) on Aug. 30, 2013,
in Seattle.

The owner listed the hotels as worth $17.9 million.  Total debt is
$18.5 million, including $18 million in secured debt.  Among
mortgage holders, Whidbey Island Bank is owed $13.3 million.


* George Canellos to Join Milbank as Global Head of Litigation
--------------------------------------------------------------
Milbank, Tweed, Hadley & McCloy on Feb. 12 announced that
George S. Canellos, who stepped down in January as co-director of
the Enforcement Division of the U.S. Securities and Exchange
Commission, will join the firm in mid-March as Global Head of the
firm's Litigation Department.

For Mr. Canellos, it is a homecoming.  Between 2003 and 2009, he
had been a Milbank litigation partner.  He left Milbank in 2009 to
serve as director of the SEC's New York Regional office.

In 2012, Mr. Canellos assumed the role of deputy director of
enforcement at the SEC, and afterward served as acting director
and co-director of the Enforcement Division.  In those positions,
he was responsible for overseeing all SEC enforcement activities
and supervising approximately 1,300 SEC personnel located in 12
regional offices engaged in investigating, prosecuting and trying
civil enforcement cases.  That included many headline-making
actions stemming from the credit crisis, insider trading scandals,
and a vast range of other market, securities industry and public
company activities.

Mr. Canellos led the SEC's New York Regional Office -- the largest
of the Commission's field offices -- from 2009 to 2012.  That put
him in charge of a staff of some 400 attorneys, accountants,
investigators and compliance examiners engaged in enforcement
activities and examination of SEC-registered financial
institutions in the New York region.  The New York office oversees
more than 4,000 financial firms, including many of the nation's
leading investment banks, broker-dealers with custody of
approximately 80% of securities assets in the United States, and
investment advisors managing a total of more than $10 trillion of
assets.

As director of the New York office, Mr. Canellos implemented new
approaches in examinations of investment advisors and created a
working group focused on investigating bad players in the penny
stock industry.  Mr. Canellos continued his leadership role after
assuming top positions in the Enforcement Division, serving under
SEC chairs Mary Schapiro, Elisse Walter, and Mary Jo White.  He
directed many of the marquee enforcement cases brought in the
aftermath of the credit crisis, including cases against sellers of
complex mortgage securities.

"George filled an incredibly important leadership role as head of
the New York office and later in the top posts of the Enforcement
Division," Ms. White said in announcing Mr. Canellos's decision to
leave the SEC on January 3.  "He helped to improve coordination
between the enforcement and exam programs, streamline procedures
to expedite investigations, and better integrate our investigative
and trial functions.  Every day, he brought to work an intense
enthusiasm for our mission, extraordinary intellect and
experience, and a total commitment to fairness and the public
interest."

In returning to Milbank, Mr. Canellos will join a litigation group
that has grown significantly during his years at the SEC.  The
firm boasts a deep bench of experienced litigators and trial
lawyers and has recognized eminence in such areas as securities
class actions, bankruptcy litigation, white collar defense,
intellectual property, regulatory enforcement, complex financial
disputes and other matters.  Milbank clients include a long list
of leading global financial institutions and corporations.

Mr. Canellos will also once again be working closely with
Milbank's recently elected Chairman, Scott Edelman.  Mr. Edelman
and Mr. Canellos began their careers together as associates at
Wachtell, Lipton, Rosen & Katz.  Both left that firm for AUSA
positions in the criminal division of the U.S. Attorney's Office
for the Southern District of New York, and subsequently, they were
partners at Milbank.

"We are absolutely delighted that George has chosen to rejoin us
as a partner and Global Head of our Litigation Department,"
Mr. Edelman said.  "From the time we started out as junior
associates and during our years together at the U.S. Attorney's
Office and at Milbank, George has stood out as a brilliant lawyer,
skilled advocate and wise counselor.  During his tenure at the
SEC, he was well known for bringing exactly the right mix of
prosecutorial toughness and fairness to his cases.

"Our litigation and regulatory enforcement platforms have expanded
considerably since George's departure for public service in 2009,
giving us exceptional depth of talent and expertise across
multiple disciplines in New York, Washington, Los Angeles and
London," Mr. Edelman added.  "Add to our existing strengths the
outstanding leadership skills and experience that George brings
and we envision even greater levels of success in handling the
biggest, most challenging litigation matters for our clients."

Mr. Canellos commented:  "After an extremely rewarding time spent
in service to the SEC and law enforcement community, I could not
be happier to be returning to my professional family at Milbank.
I have enormous confidence in my new colleagues and in the
strategic direction of the firm, and am extremely excited about
the future of our litigation group."

                   George Canellos Background

Mr. Canellos began his career as a litigation associate at
Wachtell, Lipton, where he worked for four years.  In 1994, he
became an Assistant U.S. Attorney in the Southern District of New
York.  During his nine years as an AUSA, he served in a number of
positions and participated in the prosecution of many high-profile
cases.

Mr. Canellos was Chief of the Major Crimes Unit, where he
supervised a team of prosecutors responsible for investigating and
prosecuting large-scale financial crimes.  While also serving as
Senior Trial Counsel of the Securities and Commodities Fraud Task
Force, he prosecuted many individuals and corporations for
accounting fraud, investment advisory fraud, insider trading and
other securities violations.  Mr. Canellos also served as Deputy
Chief Appellate Attorney, one of five supervisors in charge of
overseeing the briefing and argument of all criminal appeals
before the U.S. Court of Appeals for the Second Circuit.  In 1999,
Mr. Canellos was named Prosecutor of the Year by the Federal Law
Enforcement Foundation, for overall distinction as a federal
prosecutor.

Mr. Canellos joined Milbank in 2003.  He advised the nation's
leading broker-dealers, investment advisory firms, and mutual fund
companies on compliance with securities laws and the rules of
self-regulatory organizations.  He also led the defense of clients
in many investigations of the financial industry.  Mr. Canellos
was recognized in Chambers USA's listing of America's Leading
Lawyers for Business, The Best Lawyers in America, and in
International Who's Who Legal listing of top business crime
lawyers.

Mr. Canellos received his bachelor's degree magna cum laude in
economics from Harvard College in 1986.  He received his J.D.
degree in 1989 from Columbia Law School, where he was a Harlan
Fisk Stone scholar.

                           About Milbank

Milbank, Tweed, Hadley & McCloy -- http://www.milbank.com-- is an
international law firm that has been providing innovative legal
solutions to clients throughout the world for more than 145 years.
Milbank is headquartered in New York and has offices in Beijing,
Frankfurt, Hong Kong, London, Los Angeles, Munich, Sao Paulo,
Singapore, Tokyo and Washington, DC.  The Firm's lawyers provide a
full range of legal services to the world's leading commercial,
financial and industrial enterprises, as well as to institutions,
individuals and governments.


* Lifestyle Media Announces Leaders in Law Awards in South Florida
------------------------------------------------------------------
Luxury magazine publisher Lifestyle Media Group on Feb. 13
announced the winners of the Leaders In Law Awards, a unique
awards program designed to showcase South Florida legal
professionals whose dedication to their occupation and to their
communities deserves recognition.

The winners are:

ATTORNEYS:  Charles M. Tatelbaum, Hinshaw & Culbertson LLP -
Bankruptcy Law  Evan J. Goldman, Children's Services Council of
Broward County - Corporate General Counsel  Ronald N. Rosenwasser,
Friedman Rosenwasser Goldbaum, P.A. - Corporate Law  Steven
Geller, Greenspoon Marder, P.A. - Environmental Law  David S.
Bazerman, Legal Aid Service of Broward County - Family Law  Dave
Aronberg, Office of State Attorney Dave Aronberg - Governmental
Law (tie)  Ronald L. Book, Ronald L Book P.A. - Governmental Law
(tie)  Gabriel L. Imperato, Broad and Cassel - Healthcare Law
Frank Steven Goldstein, Goldstein Law Group - Insurance Law
Marlon A. Hill, Delancyhill, P.A. - Intellectual Property Rights
Jaime D. Guttman, Greenberg Traurig, P.A. - International Law
Nicole V. Hessen, Wender, Hedler & Hessen, P.A. - Labor and
Employment Law  William R. Scherer, Conrad & Scherer LLP -
Litigation   Michael S. Freedland, Freedland Harwin, P.L. -
Medical Malpractice  Howard M. Talenfeld, Colodny Fass Talenfeld
Karlinsky Abate & Webb, P.A. - Personal Injury Law  Adele I.
Stone, Fowler White Boggs - Real Estate Law  Valerie B. Barnhart,
Kelley Kronenberg - Rising Star  Daniel Newman, Broad and Cassel -
Securities Law  David Bercuson, David Bercuson, P.A. - Sports &
Entertainment Law  Arlene H. Lakin, Arlene Lakin, Esq. - Wills,
Trusts & Estate

FIRMS:  Goldstein Law Group - Law firm with less than 25 attorneys
Kopelowitz Ostrow P.A. - Law Firm with 25-50 attorneys  Berger
Singerman LLP - Law Firm with more than 50 attorneys

A judging committee of legal professionals selected the final
honorees.  Candidates were judged on outstanding litigation,
advocacy and counseling, as well as contributions to the
advancement of the legal profession.

                    About Lifestyle Media Group

Lifestyle Media Group -- http://www.lmgfl.com-- publishes South
Florida's most recognized city magazines, serving the area's
affluent residential communities via delivery to the homes of the
area's leading professionals, CEOs and business executives.
Monthly publications include Las Olas, Weston, Parkland, Coral
Springs, Estate (SW Broward) and Estero(Naples/Fort Myers)
Lifestyle magazines as well as Pinecrest Magazine, Parkland/Coral
Springs Life, Boca/Delray Life and Coconut Creek Life.


* Sheppard Mullin Elects Eight Attorneys to Partnership
-------------------------------------------------------
Sheppard, Mullin, Richter & Hampton LLP on Feb. 12 disclosed that
the firm has elevated eight of its attorneys to partner.  The
eight new partners are Leo Caseria (Los Angeles), Aytan Dahukey
(Century City), John C. Dineen (San Diego), Tobin M. Dommer (Palo
Alto), Christopher E. Hale (Los Angeles), Gina Reif Ilardi (New
York), Mark E. McGrath (New York) and Matthew M. Sonne (Orange
County).

Leo Caseria is a member of the Antitrust and Trade Regulation
practice group and is based in the Los Angeles office.
Mr. Caseria's practice focuses on antitrust law and complex
commercial litigation, in both state and federal courts.  He has
represented global companies in connection with a wide variety of
antitrust matters, including matters involving alleged
exclusionary conduct, price-fixing, and international cartels, as
well as matters involving the intersection of antitrust and
intellectual property.  Mr. Caseria has frequently defended
companies in class actions and multidistrict litigation. He is
also knowledgeable regarding the enforceability of class action
waivers, and has authored articles and counseled on the inclusion
of class action waivers in arbitration agreements.  Mr. Caseria
has also represented companies in connection with antitrust
investigations by the United States Department of Justice. He has
represented clients including Samsung, Philip Morris and Live
Nation in connection with major antitrust matters.  Mr. Caseria
received his J.D. from Columbia University in 2005 and his
undergraduate degree from University of California, Los Angeles in
2002.

Aytan Dahukey is a member of the Corporate practice group and is
based in the Century City office.  Mr. Dahukey's healthcare
practice focuses on public and private mergers and acquisitions
and general corporate counsel representing a wide variety of
healthcare-related clients in California and nationally.  His
clients include independent physician associations, large
physician groups, hospitals and hospital-affiliated foundations
and other integrated multi-specialty medical clinics, provider
management services organizations, accountable care organizations
(ACOs) and other healthcare entities as well as those private
equity funds and strategic investors that participate in the
healthcare sector.  Mr. Dahukey has extensive experience advising
clients and negotiating mergers, asset and stock acquisitions,
divestitures, leveraged buy-outs, professional services and
management services arrangements, employment and independent
contractor arrangements. He received his J.D. from Brooklyn Law
School in 2004 and his undergraduate degree, cum laude, from
University of Arizona in 2001.

John Dineen is a member of the Business Trial practice group in
the San Diego office.  Mr. Dineen practices general business and
commercial litigation.  He has a wide array of experience in
complex civil litigation.  Mr. Dineen has successfully represented
clients in claims involving breach of contract, unfair business
practices, fraud, negligence, Truth-In-Lending and Real Estate
Settlement Procedures Acts and other causes of action.  He also
has significant experience in defending consumer class action
claims, including claims brought under the Song-Beverly Credit
Card Act, the Telephone Consumer Protection Act, the Consumer
Legal Remedies Act, California's Rosenthal Act and other statutory
claims.  Mr. Dineen has extensive experience in all aspects of
class action litigation, including coordination proceedings in
California courts.  He received his J.D. from University of
California, Berkeley in 2002 and his undergraduate degree, magna
cum laude, Phi Beta Kappa, from Georgetown University in 1997.

Tobin Dommer is a member of the Corporate practice group and is
based in the Palo Alto office.  Mr. Dommer has significant
experience representing corporate investors, venture capital
funds, private equity investors, entrepreneurs and software,
internet, digital media and hardware companies through all stages
of growth.  He counsels clients on a wide range of corporate and
commercial transactions, with an emphasis on venture capital and
strategic investment transactions, mergers and acquisitions,
corporate governance matters, and licensing of intellectual
property.  Mr. Dommer received his J.D. from Santa Clara
University School of Law in 2000 and his undergraduate degree from
University of California, Berkeley in 1995.

Chris Hale is a member of the Government Contracts, International
Trade and Investigations practice group in the Los Angeles office.
Hale specializes in commercial litigation and government
contracts, with an emphasis on general business disputes,
intellectual property, and investigations.  In the general
business context, he has represented businesses and individuals in
litigation and arbitrations related to contractual disputes,
business torts, and trade secrets claims.  Mr. Hale has
significant experience in drafting and opposing pleadings and
motions, propounding and responding to discovery, fact gathering
and analysis, and witness consultation.  In the government
contracts area, he has counseled clients in the general
commercial, defense, and health care industries on a wide variety
of government contracting issues, including bid protests, the
Federal Acquisition Regulations (FAR), the Contract Disputes Act
(CDA), the False Claims Act (FCA), and other state and federal
laws and regulations.  Mr. Hale received his J.D. from Stanford
University in 2004 and his undergraduate degree from Cornell
University in 2001.

Gina Reif Ilardi is a member of the Entertainment, Technology and
Advertising practice group in the New York office.  Ms. Ilardi's
practice includes the representation of studios, writers and
independent production companies in various aspects of motion
picture and television development, production, finance,
distribution, advertising and promotions.  She advises several of
the major film studios, broadcast and cable television networks,
retailers, consumer brands and their agencies in many aspects of
sports marketing, entertainment marketing and interactive
marketing as well as in innovative branded entertainment, privacy
and e-commerce initiatives.  Ms. Ilardi also advises clients on
feature film distribution agreements, joint development
agreements, television series development agreements, first-look
agreements, rights acquisition agreements and options, book
publishing, merchandising and other licensing agreements.  Her
expertise also includes reviewing chain of title, acting as
production counsel and performing diligence on television, motion
picture and other intellectual property libraries in connection
with mergers and acquisitions in the entertainment industry.
Ms. Ilardi received her J.D. from Fordham University School of Law
in 2005 and her undergraduate degree, cum laude, from New York
University in 2002.

Mark McGrath is a member of the Business Trial and Intellectual
Property practice groups in the New York office.  Mr. McGrath
focuses his practice on commercial and intellectual property
litigation.  In the commercial litigation arena, he has particular
experience in the areas of securities litigation, corporate trust
litigation, consumer claims relating to alleged unfair business
practices, internal investigations, director and officer
liability, bankruptcy litigation, and distribution and regulatory
actions.  Mr. McGrath's experience in intellectual property
matters has focused on litigating patent, trademark, false
advertising, and unfair competition cases.  He received his J.D.
from Fordham University School of Law in 1999 and his
undergraduate degree from University of Notre Dame in 1994.

Matt Sonne is a member of the Labor and Employment practice group
and is based in the Orange County office.  Mr. Sonne specializes
in labor and employment law representing employers and speaks
fluent Spanish.  He litigates in multiple areas of employment law
and defends against individual and class action lawsuits alleging
violations of wage and hour laws, discrimination, wrongful
termination, harassment, and other related matters.  Specifically,
Mr. Sonne has defeated multiple motions for class certification in
wage-hour matters on behalf of restaurant, retail, and
manufacturing industry clients, including the published decision
of Morgan v. Wet Seal, 210 Cal.App.4th 1341 (2012) (denial of
class certification affirmed in uniform/expense reimbursement
case).  He is also experienced in issues involving arbitration
agreements and class action waivers.  Mr. Sonne received his J.D.
from the University of Virginia in 2005 and his undergraduate
degree, magna cum laude, Phi Beta Kappa, from Claremont McKenna
College in 2000.  Prior to law school, he worked in the White
House as a writer for the President.

          About Sheppard, Mullin, Richter & Hampton LLP

Sheppard Mullin -- http://www.sheppardmullin.com-- is a full
service Global 100 firm with 650 attorneys in 15 offices located
in the United States, Europe and Asia.  Since 1927, companies have
turned to Sheppard Mullin to handle corporate and technology
matters, high stakes litigation and complex financial
transactions.  In the U.S., the firm's clients include more than
half of the Fortune 100.


* BOOK REVIEW: Land Use Policy in the United States
---------------------------------------------------
Author: Howard W. Ottoson
Publisher: Beard Books
Paperback: US$34.95
Review by Gail Owens Hoelscher
Order your personal copy today and one for a colleague at
http://is.gd/tiz2N3

In 1962, marking the 100th anniversary of the signing of the
Homestead Act by President Lincoln, 20 nationally recognized
economists, historians, a political scientist, and a geographer
presented papers at the Homestead Centennial Symposium at the
University of Nebraska. Their task was to appraise the course
that United States land policy had taken since independence. The
resulting papers are presented in this book, grouped into five
major areas: historical background; social factors influencing
U.S. land policy; past, present and future demands for lands in
the U.S.; control of land resources; and implications for future
land policy.

This book begins with a summary of the Homestead Act, its
antecedents, the arguments of its supporters and detractors, and
its intent versus implementation. The Act offered a quarter
section (160 acres) of public land in the West to citizens and
intended citizens for a $14 filing fee and an agreement to live
on the land for five years. The program ended in 1935.

Advocates claimed that frontier lad had no value to the
government until it was developed and began generating tax
revenue. Opponents feared the Act would lower land valued in the
East and pushed for government sale of the land. In practice,
states, territories, railroads and investors were able to set
aside more land than was eventually handed over to the
homesteaders.

One paper deals with land policy before 1862. From the start,
the U.S. required that "all grants of land by the federal
government should embody a description of the land not merely in
quality, but in place as defined by relation to an actual
survey." This policy avoided countless boundary disputes so
vexing to other countries.

Perhaps most interesting are the social history chapters:
Czechoslovakians pushing wheelbarrows across Nebraska,
"Daughters and Sons of the Revolution.(living) next
to.Mennonites," and "an illiterate.neighborly with a Greek and a
Hebrew scholar from a colony of Russian Jews." Mail-order
brides, "defectors from civilization," the importance of the
Mason jar, the Jeffersonian dream of a nation of agrarian
freeholders, and Santayana's observation that the typical
American skitters between visionary idealism and crass
materialism, all make for fascinating reading.

The land-use policy problems discussed certainly haven't been
solved today. And, although land use conflicts in the U.S.
haven't always been resolved equitably, "the big step forward
taken by the United States during the last one hundred and fifty
years in the age-long struggle of man towards the ideals of
mutuality and equity has been the working out of a system
wherein the sovereign superior who prescribes the working-rules
for land use and decision making have become, himself, a
collective of the citizenry."

A chapter is devoted to the arguments between the family farm ad
the "sentiment against concentration of wealth in the hands of a
few." The discussion of the Land Grant college system and its
contribution to international development closes with a quote
from Chester Bowles:

"Can we, now the richest people on earth, become creative
participants in the unprecedented revolutionary changes of our
era, changes that the most privileged people will oppose tooth
and nail, but which for the bulk of mankind offer the hopeful
prospect of a little more food, a little more opportunity, a
doctor for their sick child, and sense of personal dignity?"


                             *********

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
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firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
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