TCR_Public/140321.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, March 21, 2014, Vol. 18, No. 79

                            Headlines

1443 61 LLC: Case Summary & 4 Largest Unsecured Creditors
261 EAST: Manhattan Commercial Property Pays Creditors 18.5%
38 STUDIOS: RI Lawmaker Loses Bid For Ex-All Star's Game Co. Docs
56 WALKER: Creditors Benefiting from Wextrust Settlement
710 LONG RIDGE: Obtains Plan Confirmation, Emerges from Ch. 11

ADVANCED MICRO: To Buy Back $425-Mil. 6% Convertible Notes
AGRIMINCO: Enters Into Option Agreement with African Minerals
ARCAPITA BANK: Goes After Two Arab Banks to Recover $45.3 Million
ARCHDIOCESE OF MILWAUKEE: Sex-Abuse Victims Oppose on Appeal
ARCHDIOCESE OF MILWAUKEE: Details Abuse Therapy Program

ASSUREDPARTNERS CAPITAL: Moody's Assigns B3 Corp. Family Rating
BENZEEN INC: Voluntary Chapter 11 Case Summary
BERNARD L. MADOFF: Trustee Gets Tough Questions on Appeal
BIOLIFE SOLUTIONS: Director Thomas Girschweiler Quits
BROWN ACRES: Voluntary Chapter 11 Case Summary

BUILDERS FIRSTSOURCE: Reports $4.5 Million Net Income in Q4
C&K MARKET: Has Until June 17, 2014 to Decide on Unexpired Leases
CAMCO FINANCIAL: Gator Capital Stake at 1.7% as Dec. 31
CASPIAN SERVICES: Incurs $699,000 Net Loss in Dec. 31 Qtr.
COSI INC: Activist Says Poison Pill Is Stomach-Churning

CROWN MEDIA: Reports $67.7 Million Net Income in 2013
DETROIT, MI: Syncora May Object to New Swap Settlement
DETROIT, MI: Retirement Systems Criticize Plan Support Deal
DETROIT, MI: Creditors Panel's Bid to Retain MoFo Denied
DETROIT, MI: Court Rejects Creditors Panel's Bid to Hire Steinberg

DETROIT, MI: Bankruptcy Judge Criticizes Liability Insurance Plan
DETROIT, MI: Retirees Say Pension Cuts Will Impoverish Them
DEWEY & LEBOEUF: Case Shows Staffers Help Boss at Their Own Peril
DEWEY & LEBOEUF: 7 Ex-Employees Plea Guilty to Manipulation
DIGICEL GROUP: Moody's Rates New $865MM Sr. Unsecured Notes Caa1

DOLAN COMPANY: To File Prepack Ch.11; Has $10MM DIP Loan in Place
DOTS LLC: Obtains Authority to Pay Bonuses to 25 Key Employees
EASTMAN KODAK: Posts Net Loss of $63 Million in 4th Quarter 2013
EDGENET INC: U.S. Trustee Names 5 to Noteholders' Committee
EDISON MISSION: Files Board of Directors Notice

ELITE PHARMACEUTICALS: CEO Stake at 23.2% as of Feb. 7
EWGS INTERMEDIARY: Court Extends Lease Decision Period to March 31
EWGS INTERMEDIARY: Yann Geron Named as Independent Fee Examiner
EXPERT GLOBAL: Moody's Lowers CFR to B3 & Alters Outlook to Neg.
FANNIE MAE: Files Form 10-K, Earns $84 Billion in 2013

FREEDOM INDUSTRIES: Babst Calland Okayed as Environmental Counsel
FREEDOM INDUSTRIES: Pietragallo Okayed as Litigation Counsel
FREEDOM INDUSTRIES: Can Employ Experts for Site Remediation
GASCO ENERGY: Unit Amends Development Agreement with Wapiti
GENCO SHIPPING: Said to File for Chapter 11 by Month's End

GENIUS BRANDS: Erick Richardson Stake at 5.5% as of Jan. 10
GGW BRANDS: Units Should Stay In LA Office, Trustee Says
GOLDKING HOLDINGS: Auction of Gas Assets Pushed Back to April 1
GOLDKING HOLDINGS: Wants Scope of Claro Group's Work Limited
GREEN FIELD ENERGY: Gordon Brothers Okayed to Liquidate Assets

HALLWOOD GROUP: Amends Rule 13E-3 Transaction Statement
HELIA TEC: Withdraws Bid to Employ Battaglia
HERTZ CORP: To Spin Off Rental Equipment Business
IAMGOLD CORP: Moody's Affirms Ba3 CFR & B1 Sr. Sub. Notes Rating
IGLESIA PUERTA: Second Amended Plan Confirmed

INDEPENDENCE TAX IV: Posts $113,600 Net Income in Dec. 31 Qtr.
JAMES RIVER COAL: Skips Interest Payment on Convertible Notes
JOHN DINASO & SONS: Case Summary & 20 Top Unsecured Creditors
KENNEDY-WILSON INC: Moody's Rates New Sr. Unsecured Notes 'B2'
KIOR INC: Biofuel Maker Needs Cash to Stay in Business

KIOR INC: Discusses Final Terms on Financing Deal With Khosla
LABORATORY PARTNERS: Wants Plan Filing Period Extended to June 23
LABORATORY PARTNERS: Committee Has Nod to Retain Counsel
LANDAUER HEALTHCARE: Joint Disclosure & Plan Hearing on April 28
LIGHTSQUARED INC: Judge Hears Arguments on Bankruptcy Plan

LIGHTSQUARED INC: Ergen 'Forfeited' $700M Stake, Atty. Says
LIGHTSQUARED INC: Seeks to Disallow Ergen's "No" Vote on Plan
LIGHTSQUARED INC: SPSO Obtains Order Protecting Confidential Info
LIGHTSQUARED INC: Defends Exit Plan from Objections of SPSO, et al
LIQUIDMETAL TECHNOLOGIES: Incurs $14.2 Million Net Loss in 2013

LOU PEARLMAN: Backstreet Boys to Quit Playing Games With Claims
MAUI LAND: Reports $1.2 Million 2013 Net Loss
MESA AIR: Appoints John Selvaggio as VP Business Development
MILACRON HOLDINGS: Moody's Affirms B2 Corporate Family Rating
MINI MASTER: Has Nod to Hire Pietrantoni Mendez as Special Counsel

MMODAL INC: Files for Chapter 11 Bankruptcy Protection
MUNICIPAL MORTGAGE: Lisa M. Roberts to Continue Serving as CFO
NATCHEZ REGIONAL: Hospital Bankruptcy Bill Signed by Governor
NEW ENGLAND COMPOUNDING: $100M Deal In MDL Nears Finish Line
NEWLEAD HOLDINGS: Issues 2 Million Settlement Shares to MGP

NORTEL NETWORKS: Creditors' Panel Hires Cassels Brock as Counsel
NORTHERN BEEF: Wants Sale Closing Extended to April 5
NPS PHARMACEUTICALS: Christine Mikail Named SVP Legal Affairs
NUVILEX INC: Obtains $27MM Funding Commitment From Lincoln Park
ORCKIT COMMUNICATIONS: Settles Dispute with Note Holders

OVERSEAS SHIPHOLDING: U.S. Names 3 to Equity Holders' Committee
OVERSEAS SHIPHOLDING: Shareholders Signal Restructuring Battle
OVERSEAS SHIPHOLDING: Hires Heidrick as Board Search Advisor
OVERSEAS SHIPHOLDING: Bankr. Judge Abstains From Proskauer Suit
PHI GROUP: Incurs $134,000 Loss in March 31 2012 Quarter

PLANDAI BIOTECHNOLOGY: Incurs $3.3-Mil. Net Loss in Dec. 31 Qtr.
PLEXTRONICS INC: Has Court Authority to Sell Assets to Solvay
PLEXTRONICS INC: Has Authority to Employ Marbury as IP Counsel
PLEXTRONICS INC: Can Hire Cowen and Company as Investment Banker
PRIME TIME INT'L: Seeks Approval of First Day Motions

PRIME TIME INT'L: Asks for Approval to Use Cash Collateral
PRIME TIME INT'L: Proposes Greenberg Traurig as Counsel
PRIME TIME INT'L: Taps Odyssey Capital as Financial Advisor
PROVIDENT COMMUNITY: To Be Acquired by Park Sterling for $6.5MM
PUERTO RICO: Restructuring Bill Creates Divide

QUANTUM FOODS: Asset Purchase Agreement Gets Court Approval
QUIZNOS: Reorg Sees Lawsuit Over 2012 Recap Misrepresentations
REAL TIME: Defaults on Five-Year Convertible Debentures
ROCK SPRINGS: Case Summary & Largest Unsecured Creditors
SAN DIEGO OPERA: To Cease Operations After 2014 Season

SCRUB ISLAND: To File Consensual Plan by March 19
SEANERGY MARITIME: Has Deal to Complete Restructuring Plan
SECUREALERT INC: Safety Invest Stake at 19.3% as of Feb. 5
SOLAR POWER: SPI Solar and KDC Solar Jointly Owns Mountain Creek
SORENSON COMMUNICATIONS: Disclosure & Plan Hearing on April 10

STELLAR BIOTECHNOLOGIES: Six Directors Elected at Annual Meeting
SURROUNDART MANAGEMENT: Case Summary & Top Unsecured Creditors
TALON INTERNATIONAL: Appoints Chief Financial Officer
THOMPSON CREEK: Incurs $215 Million Net Loss in 2013
TRIGEANT LTD: Continues to Spar with BTB Relating to Tex. Refinery

TRIGEANT LTD: Has Final Authority to Employ Berger Singerman
TRIGEANT LTD: Amends Schedules of Assets and Liabilities
TRIHOP CARMINE: Case Summary & 5 Largest Unsecured Creditors
TUSCANY INTERNATIONAL: Hires GMP Securities as Investment Banker
TUSCANY INTERNATIONAL: Taps Deloitte LLP as Tax Service Providers

USEC INC: Disclosure Statement Hearing Scheduled for April 21
USEC INC: Expects Bankruptcy Exit in 90 to 120 Days
VAIL LAKE: Court Okays Hiring of PH&I as Litigation Counsel
WALTER ENERGY: Moody's Rates $100MM Debt B3 & Affirms Caa1 CFR
WEST TEXAS GAUR: Judge to Rule on Chapter 11 Trustee Bid Today

YRC WORLDWIDE: Stephen Freidheim Stake at 4% as of Jan. 31
ZOGENIX INC: Incurs $35.6 Million Net Loss in Fourth Quarter
ZURIC BUILDERS: Case Summary & Largest Unsecured Creditors

* Supreme Court Limits Federal Court Equity Powers

* OneBeacon Can't Battle FDIC in Ga. Over D&O Coverage
* FINRA Deletes Red Flags From Brokers' Records, Says Study
* Fraud Trial of Bond Trader Goes to Jury
* Household Worth in U.S. Climbs by $2.95 Trillion to Record

* Pa. Atty Gets 18 Months for Fraud After Judge Knocks Feds
* Restructuring Advisers Flock to Brazil

* BOOK REVIEW: MERCHANTS OF DEBT: KKR and the Mortgaging
               of American Business


                             *********


1443 61 LLC: Case Summary & 4 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: 1443 61 LLC
        1742 46th Street
        Brooklyn, NY 11204

Case No.: 14-41255

Chapter 11 Petition Date: March 19, 2014

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

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Rachel Blumenfeld, Esq.
                  LAW OFFICE OF RACHEL S. BLUMENFELD
                  26 Court Street, Suite 2220
                  Brooklyn, NY 11242
                  Tel: (718) 858-9600
                  Fax: (718) 858-9601
                  Email: rblmnf@aol.com

Total Assets: $1 million

Total Liabilities: $1.44 million

The petition was signed by Yecheskel Weingarten, managing member.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-41255.pdf


261 EAST: Manhattan Commercial Property Pays Creditors 18.5%
------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that unsecured creditors of 261 East 78th Street in
Manhattan were paid 18.5 percent of their claims, pursuant to a
Chapter 11 plan for the property that was approved by the
bankruptcy court in Manhattan at the end of January.

According to the report, as a result of mediation, the first
mortgage on the six-floor commercial building was reduced from $17
million to $10.7 million, and the second mortgage dropped to $1.3
million from $4 million, according to the company's lawyer,
Jonathan Pasternak of Delbello Donnellan Weingarten Wise &
Wiederkehr LLP in White Plains, New York.

                         About 261 East

261 East 78 Realty Corp. owns real property located at 261 East
78th Street, in New York.  The premises consist of seven
commercial units, three of which are currently occupied.  261 East
78 Realty filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y. Case
No. 11-15624) on Dec. 6, 2011.  The case was assigned to Judge
Robert E. Gerber.  The Chapter 11 filing was precipitated by the
commencement of foreclosure proceedings on the premises.  The
Debtor scheduled $20.2 million in assets and $18.8 million in
liabilities.  The petition was signed by Lee Moncho, president.

Jonathan S. Pasternak, Esq., at DelBello Donnellan Weingarten Wise
& Wiederkehr, LLP, in White Plains, N.Y., represents the Debtor as
counsel.

Matthew W. Olsen, Esq., at Katten Muchin Rosenman LLP, in New
York, N.Y., represents MB Financial Bank, N.A., as counsel.

Pursuant to the Plan Term Sheet, the Plan will be funded by
amounts made available by (i) the Plan Funder, of which $1,500,000
will be deposited in the Plan Fund Account and $10,700,000 will be
distributed to MB Financial Bank, N.A., on account of its Allowed
Class 2 Claim or (ii) the net proceeds of a Public Sale of the
Debtor's Property conducted pursuant to the Plan, of which
$11,000,000 will be distributed to MB on account of its Allowed
Class 2 Claim and the balance will be used to make payments due
under the Plan.

Judge Gerber on Jan. 29, 2014, issued an order confirming 261 East
78 Realty's Second Amended Chapter 11 Plan of Reorganization after
determining that the Plan complies with the confirmation
requirements laid out in the Bankruptcy Court.


38 STUDIOS: RI Lawmaker Loses Bid For Ex-All Star's Game Co. Docs
-----------------------------------------------------------------
Law360 reported that a Rhode Island legislator's request for
documents related to a state court action against a failed video
game company founded by former Boston Red Sox pitcher Curt
Schilling has been denied, the state legislature said, dealing a
temporary setback to policymakers' probe into the demise of the
state-backed game maker.

According to the report, Sen. James C. Sheehan, D-North Kingstown,
said he had requested all depositions and exhibits relating to the
state court action brought by the quasi-public Rhode Island
Economic Development Corp. against 38 Studios LLC principals.

38 Studios LLC, a video-game developer founded by former Boston
Red Sox pitcher Curt Schilling, filed for liquidation on June 8,
2012, without attempting to reorganize.  Although based in
Providence, Rhode Island, the company filed the Chapter 7 petition
in Delaware (Case No. 12-11743).


56 WALKER: Creditors Benefiting from Wextrust Settlement
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that unsecured creditors of the property at 56 Walker
Street in the Tribeca section of Manhattan have a chance for a
recovery now that a $4 million secured claim was settled for
$150,000.

According to the report, the settlement was with lender
Wextrust/HPC Mortgage Fund LP, which, according to the property
owner, didn't fund a loan fully before the first bankruptcy. The
settlement was approved by the bankruptcy judge, debtor's counsel
Jonathan Pasternak of Delbello Donnellan Weingarten Wise &
Wiederkehr LLP in White Plains, New York, said in an e-mail.

How creditors fare depends on the resolution of objections to the
claim of the primary secured lender MB Financial Bank NA, Mr.
Pasternak said, the Bloomberg report related.  He's holding $16.6
million in sale proceeds in his firm's trust account.

Mr. Rochelle noted that the plan ideally would fully pay unsecured
creditors with $4.88 million in claims, depending on the outcome
of objections to secured claims.

                        About 56 Walker LLC

56 Walker LLC, the owner of a six-story building at 56 Walker
Street in the Tribeca section of Manhattan, returned to Chapter 11
(Bankr. S.D.N.Y. Case No. 13-11571) on May 13, 2013, this time
aiming for a $23 million sale to pay off about $14 million in
mortgages and $2 million in unsecured debt.  The Debtor scheduled
assets of $23,000,000 and liabilities of $15,996,104.

Judge Shelley Chapman was initially assigned to the case but the
case was transferred to Judge Allan L. Gropper.  Erica Feynman
Aisner, Esq., at Delbello Donnellan Weingarten Wise & Wiederkehr,
LLP, serves as the Debtor's counsel.

The previous Chapter 11 case began in September 2011 and was
dismissed in August 2012 when the bankruptcy judge refused to
approve a settlement.

On Jan. 29, 2014, Judge Allan L. Gropper of the U.S. Bankruptcy
Court for the Southern District of New York confirmed the Debtor's
Third Amended Liquidating Chapter 11 Plan, which contemplates the
sale of the Debtor's building at 56 Walker Street in the Tribeca
section of Manhattan for $18 million.


710 LONG RIDGE: Obtains Plan Confirmation, Emerges from Ch. 11
--------------------------------------------------------------
On March 6, 2014, Judge Donald H. Steckroth of the U.S. Bankruptcy
Court for the District of New Jersey entered a findings of fact,
conclusions of law and order confirming 710 Long Ridge Road
Operating Company II, LLC, et al.'s First Amended Joint Chapter 11
Plan of Reorganization.  In accordance with the Plan, the Debtors
have declared March 7, 2014, as the Effective Date of the Plan.

A full-text copy of Judge Steckroth's March 6 Order is available
for free at http://bankrupt.com/misc/710LONGRIDGEplanmemo0306.pdf

The Plan provides for the combination of concessions and a cash
infusion of approximately $67 million from affiliated entities,
and was accepted by the overwhelming majority of the Centers'
creditors.

Under the Plan, the Centers' creditors are entitled to a recovery
of up to 75 percent on their claims and there will be no
disruption in operations or services.  "Throughout this process,
we have made the continued high quality care of our residents our
top priority, and we are pleased that the Chapter 11 proceedings
have had no adverse effect on our patient care, relations with
physicians or any other of the Centers' normal operations," said
Mr. Remillard.  "The financial commitments and undertakings that
the Centers and their affiliates have made under the Plan
demonstrate that the continued excellent care and safety of the
Centers' residents remains paramount," he said.

The bankruptcy plan pertains only to the five unionized
Connecticut Centers and does not apply to the other health care
centers managed by HealthBridge Management, LLC.  Each of the five
centers is a sub-acute and long-term nursing care facility for the
elderly in Connecticut.  The facilities are: Long Ridge of
Stamford, Newington Health Care Center, Westport Health Care
Center, West River Health Care Center, and Danbury Health Care
Center.

                       About the Centers

The five Centers provide long-term care and short-term
rehabilitation services. For long term care residents who have
medical needs, the Centers provide 24-hour-a-day nursing care,
nutritional monitoring and planning, medication management and
personal care.  For individuals in need of nursing and/or
rehabilitation services following a recent hospitalization for
orthopedic surgery, stroke, oncology care, cardiac care, general
surgery and other diagnoses, the Centers offer medical and
physical rehabilitation including physical, occupational and
speech therapy, rehabilitative nursing and physician directed
rehabilitation plans, IV therapy, wound care and other services.

          About 710 Long Ridge Road Operating Company II

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

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

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

Michael D. Sirota, Esq., Gerald Gline, Esq., David Bass, Esq., and
Ryan T. Jareck, Esq., serve as counsel to the Debtors.  Logan &
Company, Inc. is the claims and notice agent.  Alvarez & Marsal
Healthcare Industry Group, LLC, is the financial advisor.

Porzio, Bromberg & Newman, P.C.'s Robert M. Schechter, Esq., and
Rachel Segall, Esq., represents the Official Committee of
Unsecured Creditors.  The Committee retained EisnerAmper LLP as
accountant.

Levy Ratner's Suzanne Hepner, Esq., and Ryan J. Barbur, Esq.,
represent the New England Health Care Workers, District 1199 SEIU.

Abby Propis Simms, Esq., Julie L. Kaufman, Esq., Nancy E. Kessler
Platt, Esq., Dawn L. Goldstein, Esq., Paul Thomas, Esq., and John
McGrath, Esq., at the National Labor Relations Board Special
Litigation Branch in Washington, D.C., argue for the National
Labor Relations Board.


ADVANCED MICRO: To Buy Back $425-Mil. 6% Convertible Notes
----------------------------------------------------------
Advanced Micro Devices, Inc., agreed to sell $600 million
aggregate principal amount of its 6.75 percent Senior Notes due
2019 in a private offering.  AMD closed the transaction on or
around Feb. 26, 2014.  AMD estimated that the net proceeds from
the issuance and sale of the senior notes will be approximately
$590 million after deducting the initial purchasers' discounts and
estimated offering expenses.

AMD intends to use the net proceeds to repurchase up to $425
million aggregate principal amount of its outstanding 6.00 percent
Convertible Senior Notes due 2015 through a tender offer which was
launched on Feb. 20, 2014.  Remaining net proceeds will be used to
repurchase up to a maximum of $200 million aggregate principal
amount of its outstanding 8.125 percent Senior Notes due 2017
through a tender offer which was also launched on Feb. 20, 2014.
AMD will use any net proceeds not used in the tender offers to
redeem, repurchase or otherwise retire other outstanding debt.

AMD filed with the SEC a tender offer statement on Schedule TO in
connection with AMD's offer to purchase for cash up to
$425,000,000 aggregate principal amount of AMD's outstanding 6.00
percent Convertible Senior Notes due 2015.  A full-text copy of
the Offer to Purchase for Cash is available for free at:

                       http://is.gd/RVjUxu

                   About Advanced Micro Devices

Sunnyvale, California-based Advanced Micro Devices, Inc., is a
global semiconductor company. The Company's products include x86
microprocessors and graphics.

Advanced Micro incurred a net loss of $83 million on $5.29 billion
of net revenue for the year ended Dec. 28, 2013, as compared with
a net loss of $1.18 billion on $5.42 billion of net revenue for
the year ended Dec. 29, 2012.

The Company's balance sheet at Dec. 28, 2013, showed $4.33 billion
in total assets, $3.79 billion in total liabilities and $544
million in total stockholders' equity.

                          *     *     *

In August 2013, Standard & Poor's Ratings Services revised its
outlook on Advanced Micro to negative from stable.  At the same
time, S&P affirmed its 'B' corporate credit and senior unsecured
debt ratings on AMD.

As reported by the TCR on Feb. 4, 2014, Fitch Ratings has affirmed
the 'CCC' long-term Issuer Default Rating (IDR) for Advanced Micro
Devices Inc.  The rating reflects Fitch's expectations for
negative near-term free cash flow (FCF) and limited top-line
visibility, despite solid product momentum heading into 2014.

In the Feb. 4, 2013, edition of the TCR, Moody's Investors Service
lowered Advanced Micro Devices' corporate family rating to B2 from
B1.  The downgrade of the corporate family rating to B2 reflects
AMD's prospects for weaker operating performance and liquidity
profile over the next year as the company commences on a multi-
quarter strategic reorientation of its business in the face of a
challenging macro environment and a weak PC market.


AGRIMINCO: Enters Into Option Agreement with African Minerals
-------------------------------------------------------------
AgriMinco Corp. on March 19 disclosed that it has entered into a
definitive agreement granting Premier African Minerals Limited the
exclusive option to purchase AgriMinco's 30% interest in the
Danakil Potash Project, Ethiopia.  Premier, control party to
AgriMinco with a 42% stake, is a mineral exploration company
focused on acquiring, exploring and developing mineral properties
in Africa.  Under the terms of the Option Agreement, Premier can
directly acquire the 30% interest in the Project, subject to TSX
Venture Exchange and AIM approval, on the following basis:

        i. The cancellation of all the common shares of AgriMinco
owned by Premier for no consideration.  As at the date of this
announcement, Premier owns 120,000,000 AgriMinco shares
representing 42% of AgriMinco's issued share capital with a value
of approximately C$2,400,000 based on the last closing mid-market
price of AgriMinco shares of C$0.02 per share on March 18, 2014,
being the last practicable date prior to the publication
of this announcement.

        ii. Deliver and effect payment of debt settlement
agreements in favor of AgriMinco releasing AgriMinco from all
monetary obligations in respect of certain debt representing, in
the aggregate, liabilities totaling C$2,265,819.50 on the
condensed interim consolidated financial statements of AgriMinco
for the three months ended December 31, 2013 and 2012.

        iii. Issue to AgriMinco new Premier ordinary free trading
common shares with an aggregate value equal to C$1,000,000, such
value per share based on the volume weighted of Premier average
trading price for the 20 consecutive trading days immediately
prior to the exercise of the Option.  Based on the closing mid-
market price of Premier shares of .82p per share on 18 March 2014,
the last practicable date prior to the publication of this
announcement, this would result in the issue of 66,023,049 new
Premier shares assuming the price of Premier shares and
the sterling Canadian dollar exchange rate remain constant.

        iv. Resulting in total consideration valued at
C$5,665,819.50 to the Company.

AgriMinco's CEO, Bruce Cumming comments: "Should the Option be
exercised and the transaction close, ANO will be returned to a
solvent state and will continue to hold a significant indirect
interest in the Danakil Project.  Alternatively, AgriMinco has the
ability through the liquidity afforded by the Premier shares, to
pursue its other interests in West Africa which include two
phosphate projects in Togo (Bassar and the Southern Phosphate)
with the Bassar project having the potential to develop more than
20-22Mt at 28-30% P2O5 of phosphate resources.  The Southern
Phosphate project, located along strike of the producing phosphate
mine in Togo, has unexplored phosphate potential.  This project
also contains a mixed attapulgite-bentonite deposit of 108Mt
including 28Mt of 85:15 attapulgite: bentonite wqith the deposit
open along strike and down dip. indicated from previous
exploration by the Bureau Nationale de Recheche Miniere fp the
Togolese Ministry of Mines in December, 1990.  In Mali, the
Company has two greenfields potash exploration projects in the
northern part of Mali, located at Taoudenni.  With the agreement
of the Malian authorities, this project is under force majeure
until the security situation stabilizes to both parties
satisfaction.

"The net effect of this transaction is the avoidance of a
bankruptcy event for AgriMinco and the creation of an entity with
significant other assets that may now be developed, creating the
opportunity for the Company to expand its portfolio of projects in
the agri-minerals sector.  The potentially significant
shareholding in Premier will give the Company exposure to
Premier's portfolio of projects, including the RHA wolframite mine
development."

Premier currently owns 120,000,000 common shares representing 42%
of the Company's issued and outstanding common shares and is an
insider of the Company.  As a result, the private placement is a
related party transaction pursuant to Policy 5.9 of the TSXV and
Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions ("MI 61-101") and triggers the
requirement for a valuation and minority approval unless
exemptions therefrom are available.  The Company is relying on the
financial hardship exemption within MI 61-101 to exempt the
Company from having to obtain an independent valuation (MI 61-101
section 5.5(g)) as well as exempt the Company from having to
obtain minority shareholder approval (MI 61-101 section 5.7(e)),
as described in more detail below.

As has been previously disclosed, in connection with the
development of the Project, AgriMinco is required to contribute
30% of expenditure in excess of the agreed free carry by April 7,
2014.  In addition, the Company must also contribute 30% of the
next fiscal year exploration budget.  A failure to contribute will
result in a significant dilution of the Company's interest.  The
operator has submitted budgets and costs for the historic
overspend and cash call notices will be issued on May 6, 2014.
The combined cash call for the first fiscal quarter and the
historic excess is expected to be of the order of US$2,000,000 and
the budget for the next 12-months, of which the Company must meet
30%, is expected to be US$20,000,000.  The current anticipated
amounts are in significant excess of the Company's cash on hand,
accordingly, the Company currently has neither sufficient funds
nor reasonably available financing options to satisfy these
obligations that are anticipated in the near term.

Pursuant to MI 61-101, minority approval and an independent
valuation are not required for a related party transaction in the
event of financial hardship in specified circumstances.  As a
result, a special committee of the board "independent" in respect
of the transaction, as such term is defined in MI 61-101, was
constituted to consider the Option Agreement. The Special
Committee determined that the Company is in serious financial
difficulty, the Option Agreement is designed to improve the
financial position of the Company, and the terms of the Option
Agreement are reasonable in the circumstances of the Company.
Following these determinations and a recommendation to the Board
of Directors, the Board of AgriMinco has made the same
determination.  Accordingly, AgriMinco has satisfied the elements
of the financial hardship exemption.

                          About AgriMinco

AgriMinco Corp. -- http://www.agriminco.com-- is a Canadian
company based in Toronto, Ontario Canada.


ARCAPITA BANK: Goes After Two Arab Banks to Recover $45.3 Million
-----------------------------------------------------------------
Joseph Checkler, writing for The Wall Street Journal, reported
that Arcapita Bank is suing two Arab banks to recover a total of
$45.3 million the investment firm transferred to them just before
its 2012 bankruptcy filing.

According to the report, the suits, filed by the Bahrain-based
bank against Saudi Arabia's Al Baraka Banking Group BSC and
Bahrain-based Alubaf Arab International Bank BSC, are the biggest
of 59 lawsuits Arcapita filed seeking money it shelled out within
90 days before its March 2012 bankruptcy filing. Arcapita is suing
two units of Al Baraka for a total of $35.3 million and is going
after Alubaf for $10 million in a separate suit.

Arcapita filed the suits Monday with U.S. Bankruptcy Court in
Manhattan two days before the two-year statute of limitations for
these types of lawsuits runs out, the report noted.

The rest of the suits are mostly against law firms, consulting
groups and vendors such as information services the company paid
for, the report related.  Most of those are for $200,000 or less.

                        About Arcapita Bank

Arcapita Bank B.S.C., also known as First Islamic Investment Bank
B.S.C., along with affiliates, filed for Chapter 11 protection
(Bankr. S.D.N.Y. Lead Case No. 12-11076) in Manhattan on March 19,
2012.  The Debtors said they do not have the liquidity necessary
to repay a US$1.1 billion syndicated unsecured facility when it
comes due on March 28, 2012.

Falcon Gas Storage Company, Inc., filed a Chapter 11 petition
(Bankr. S.D.N.Y. Case No. 12-11790) on April 30, 2012.  Falcon Gas
is an indirect wholly owned subsidiary of Arcapita that previously
owned the natural gas storage business NorTex Gas Storage Company
LLC.  In early 2010, Alinda Natural Gas Storage I, L.P. (n/k/a
Tide Natural Gas Storage I, L.P.), Alinda Natural Gas Storage II,
L.P. (n/k/a Tide Natural Gas Storage II, L.P.) acquired the stock
of NorTex from Falcon Gas for $515 million. Arcapita guaranteed
certain of Falcon Gas' obligations under the NorTex Purchase
Agreement.

The Debtors tapped Gibson, Dunn & Crutcher LLP as bankruptcy
counsel, Linklaters LLP as corporate counsel, Towers & Hamlins LLP
as international counsel on Bahrain matters, Hatim S Zu'bi &
Partners as Bahrain counsel, KPMG LLP as accountants, Rothschild
Inc. and financial advisor, and GCG Inc. as notice and claims
agent.

Milbank, Tweed, Hadley & McCloy LLP represented the Official
Committee of Unsecured Creditors.  Houlihan Lokey Capital, Inc.,
served as its financial advisor and investment banker.

Founded in 1996, Arcapita is a global manager of Shari'ah-
compliant alternative investments and operates as an investment
bank.  Arcapita is not a domestic bank licensed in the United
States.  Arcapita is headquartered in Bahrain and is regulated
under an Islamic wholesale banking license issued by the Central
Bank of Bahrain.  The Arcapita Group employs 268 people and has
offices in Atlanta, London, Hong Kong and Singapore in addition to
its Bahrain headquarters.  The Arcapita Group's principal
activities include investing on its own account and providing
investment opportunities to third-party investors in conformity
with Islamic Shari'ah rules and principles.

The Arcapita Group had roughly US$7 billion in assets under
management.  On a consolidated basis, the Arcapita Group owns
assets valued at roughly US$3.06 billion and has liabilities of
roughly US$2.55 billion.  The Debtors owe US$96.7 million under
two secured facilities made available by Standard Chartered Bank.

Arcapita explored out-of-court restructuring scenarios but was
unable to achieve 100 percent lender consent required to
effectuate the terms of an out-of-court restructuring.

Subsequent to the Chapter 11 filing, Arcapita Investment Holdings
Limited, a wholly owned Debtor subsidiary of Arcapita in the
Cayman Islands, issued a summons seeking ancillary relief from the
Grand Court of the Cayman Islands with a view to facilitating the
Chapter 11 cases.  AIHL sought the appointment of Zolfo Cooper as
provisional liquidator.

As reported in the TCR on Jun 19, 2013, the Bankruptcy Court for
the Southern District of New York entered its Findings of Fact,
Conclusions of Law, and Order confirming the Second Amended Joint
Chapter 11 Plan of Reorganization of Arcapita Bank B.S.C.(c) and
Related Debtors with respect to each Debtor other than Falcon Gas
Storage Company, Inc.

A copy of the Confirmed Second Amended Joint Plan (With First
Technical Modifications) is available at:

          http://bankrupt.com/misc/arcapita.doc1265.pdf

The effective date of the Debtors' Second Amended Joint Plan of
Reorganization, dated as of June 11, 2013, occurred on Sept. 17,
2013.


ARCHDIOCESE OF MILWAUKEE: Sex-Abuse Victims Oppose on Appeal
------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the official committee representing sexual-abuse
claimants in the Archdiocese of Milwaukee's bankruptcy filed their
last papers trying to persuade the U.S. Court of Appeals in
Chicago to reinstate a $55 million fraudulent-transfer lawsuit
against cemeteries affiliated with the church.

According to the report, a federal district judge in Milwaukee
ruled in July that the $55 million in a cemetery trust is shielded
from creditor claims by the federal Religious Freedom Restoration
Act of 1993.  The district court threw out the creditors' suit,
which alleged the movement of assets from the archdiocese to a
separate trust for the cemeteries was a fraudulent transfer that
can be reversed in bankruptcy.

On appeal, the church filed papers in mid-February arguing that
the U.S. Constitution's First Amendment and RFRA protect the $55
million, which would be the largest single source of recovery for
sexual-abuse claimants, the report related.

The abuse victims' committee filed its final papers, arguing that
the First Amendment and RFRA would only bar the government from
suing the church, the report further related.  The claimants
challenged arguments that a suit by an official creditors'
committee is the equivalent of government action.

Along the way, the committee said that the archbishop himself has
a "profound and disabling conflict of interest" because he would
have to sue himself to recover the $55 million from the cemetery
trust, the report added.

The appeal is Official Committee of Unsecured Creditors v.
Listecki, 13-02881, U.S. Court of Appeals for the Seventh Circuit
(Chicago).  The lawsuit is Listecki v. Official Committee of
Unsecured Creditors (In re Archdiocese of Milwaukee), 11-02459,
U.S. Bankruptcy Court, Eastern District of Wisconsin (Milwaukee).

                  About Archdiocese of Milwaukee

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

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

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

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

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


ARCHDIOCESE OF MILWAUKEE: Details Abuse Therapy Program
-------------------------------------------------------
The Archdiocese of Milwaukee laid out details regarding therapy to
be provided in coming years for victims of sexual abuse, according
to papers filed in court.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
pointed out that the therapy program is an important element of
the church's proposed Chapter 11 plan because it contains only $4
million to compensate abuse victims for their claims.  Mr.
Rochelle said abuse victims will fare better if they succeed on
appeal in setting aside a ruling by a federal district judge
barring them from suing to recover $55 million they say was
fraudulently transferred to a cemetery fund.

Tom Corrigan, writing for The Wall Street Journal, related that
the therapy program, if approved, could provide counseling and
therapy to hundreds of individuals who allege they were sexually
abused by the archdiocese's priests.  The proposed procedures will
allow eligible holders of sexual-abuse claims to access a $500,000
trust, established as part of a larger restructuring plan, to fund
counseling for the victims' lifetime.

According to the proposed payment plan, the archdiocese will pay
for one 60-minute session a week with a licensed counselor, social
worker, therapist, psychologist or psychiatrist, the Journal
related.  After 26 sessions, or six months of therapy, patients
must submit a follow-up treatment plan or the archdiocese won't be
required to pay for further sessions.

The plan stipulates that all requests for therapy must be approved
in advance by the archdiocese except in cases during which a
patient needs emergency counseling, the Journal noted.

                  About Archdiocese of Milwaukee

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

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

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

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

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


ASSUREDPARTNERS CAPITAL: Moody's Assigns B3 Corp. Family Rating
---------------------------------------------------------------
Moody's Investors Service has assigned a B3 corporate family
rating and a B3-PD probability of default rating to
AssuredPartners Capital, Inc. (AssuredPartners). The rating agency
also assigned ratings to the credit facilities to be issued in
connection with the company's proposed refinancing of its existing
credit facilities. The refinancing will also be used to fund
acquisition activity. The transaction is expected to close within
the next several weeks. The rating outlook for AssuredPartners is
stable.

Ratings Rationale

AssuredPartners' ratings reflect its increasing market position in
North American insurance brokerage, mix of business between P&C
insurance and employee benefits, and good EBITDA margins. These
strengths are offset by the company's high financial leverage and
low interest coverage associated with its planned 2014
refinancing. Additionally, we expect that AssuredPartners will
continue to aggressively pursue acquisitions, giving rise to
integration and contingent risks (e.g., exposure to errors and
omissions).

"The ratings of AssuredPartners reflect a rapidly growing market
presence in US P&C insurance brokerage as well as high financial
leverage following its refinancing," said Enrico Leo, Moody's lead
analyst for AssuredPartners. The rating agency estimates that
Assured Partners' debt-to-EBITDA ratio including contingent earn-
out liabilities will be approximately 7x following the
refinancing. "While financial leverage is aggressive for the
firm's rating category, we expect the company to gradually improve
its metrics through EBITDA growth."

The proposed financing arrangement includes a $100 million first-
lien revolving credit facility (rated B2, expected to be undrawn
at closing), a $420 million first-lien term loan (rated B2) and a
$135 million second-lien term loan (rated Caa2), all to be issued
by AssuredPartners. Proceeds will be used to repay the company's
existing debt, fund near-term acquisitions, maintain cash on the
balance sheet to support future acquisitions, and pay related fees
and expenses.

Factors that could lead to an upgrade of Assured Partners' ratings
include:

   (i) debt-to-EBITDA ratio below 5.5x,
  (ii) EBITDA - capex) coverage of interest consistently
       exceeding 2x, and
(iii) free-cash-flow-to-debt ratio consistently exceeding 5%.

Factors that could lead to a rating downgrade include:

   (i) debt-to-EBITDA ratio above 8x,
  (ii) (EBITDA - capex) coverage of interest below 1.2x, or
(iii) free-cash-flow-to-debt ratio below 2%.

Moody's has assigned the following ratings (and loss given default
(LGD) assessments) to AssuredPartners:

Corporate family rating B3;

Probability of default rating B3-PD;

$100 million first-lien revolving credit facility B2
(LGD3, 37%);

$420 million first-lien term loan B2 (LGD3, 37%);

$135 million second-lien term loan Caa2 (LGD5, 88%).

The principal methodology used in this rating was Moody's Global
Rating Methodology for Insurance Brokers and Service Companies
published in February 2012. Other methodologies used include Loss
Given Default for Speculative-Grade Non-Financial Companies in the
U.S., Canada and EMEA published in June 2009.

Based in Lake Mary, Florida, AssuredPartners ranks among the 15
largest US insurance brokers in terms of revenues. Through
subsidiaries across the US, the company distributes P&C insurance
and employee benefits products to mid-sized businesses. For the
first nine months of 2013, AssuredPartners reported total revenues
of $185 million and net income of $14.4 million. Stockholders'
equity was $232 million as of September 30 2013.


BENZEEN INC: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Benzeen Inc
        3243 Iredell Ln
        Studio City, CA 91604

Case No.: 14-11405

Chapter 11 Petition Date: March 19, 2014

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Hon. Maureen Tighe

Debtor's Counsel: Tatiana K Linton, Esq.
                  14414 Hamlin St
                  Van Nuys, CA 91401
                  Tel: 818-374-1302

Estimated Assets: not indicated

Estimated Liabilities: not indicated

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


BERNARD L. MADOFF: Trustee Gets Tough Questions on Appeal
---------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the chance that Bernard Madoff's victims will ever
get back all $17.5 billion they invested in his Ponzi scheme was
left in doubt after arguments before the U.S. Court of Appeals in
Manhattan over the scope of lawsuits to claw back money stolen
from investors.

According to the report, Irving Picard, the trustee unwinding
Madoff's investment firm in bankruptcy, is seeking court
permission to sue "net winners" -- customers who withdrew more
than they invested with Madoff -- as far back as six years before
the Ponzi scheme collapsed.

The case turns on the so-called safe harbor in Section 546(e) of
the Bankruptcy Code, which bars suits going back more than two
years to recover payments made "in connection with a securities
contract," the report related.  In the case on appeal, U.S.
District Judge Jed Rakoff let the trustee go back only two years.

Picard told the appeals court that the safe harbor shouldn't apply
because Madoff never bought a single security with his customers'
money, the report further related.  Instead, he used newly
invested funds to pay off prior investors.

Investors who got their money out more than two years before the
firm's 2008 bankruptcy are relying in part on a 2-1 opinion from
the same appeals court from June 2011, in Enron Creditors'
Recovery Trust v. Alfa SAV de CV, which said the safe harbor must
be accorded "extremely broad" interpretation, the report said.

The judges didn't say when they will rule on the appeal, the
report said.


As previously reported by The Troubled Company Reporter, the
National Association of Bankruptcy Trustees told the Second
Circuit it should allow Picard to pursue a slew of clawback suits
against Madoff's Ponzi scheme customers.  In an amicus brief, the
nonprofit professional association said the customers shouldn't be
covered by the safe-harbor policy of Section 546(e) because
Bernard Madoff Investment Securities LLP never actually had
securities.

The Madoff trustee's appeal is Picard v. Ida Fishman Revocable
Trust (In re Bernard L. Madoff Investment Securities LLC), 12-
02557, U.S. Court of Appeals for the Second Circuit (Manhattan).

                     About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping US$50 billion.  On Dec. 15, 2008, the Honorable Louis A.
Stanton of the U.S. District Court for the Southern District of
New York granted the application of the Securities Investor
Protection Corporation for a decree adjudicating that the
customers of BLMIS are in need of the protection afforded by the
Securities Investor Protection Act of 1970.  The District Court's
Protective Order (i) appointed Irving H. Picard, Esq., as trustee
for the liquidation of BLMIS, (ii) appointed Baker & Hostetler LLP
as his counsel, and (iii) removed the SIPA Liquidation proceeding
to the Bankruptcy Court (Bankr. S.D.N.Y. Adv. Pro. No. 08-01789)
(Lifland, J.).  Mr. Picard has retained AlixPartners LLP as claims
agent.

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The petitioning creditors -- Blumenthal &
Associates Florida General Partnership, Martin Rappaport
Charitable Remainder Unitrust, Martin Rappaport, Marc Cherno, and
Steven Morganstern -- assert US$64 million in claims against Mr.
Madoff based on the balances contained in the last statements they
got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.).

From recoveries in lawsuits coupled with money advanced by SIPC,
Mr. Picard has paid about 58 percent of customer claims totaling
$17.3 billion.  The most recent distribution was in March 2013.

Mr. Picard has collected about $9.35 billion, not including an
additional $2.2 billion that was forfeit to the government and
likewise will go to customers.  Picard is holding almost
$4.4 billion he can't distribute on account of outstanding
appeals and disputes.  The largest holdback, almost $2.8 billion,
results from disputed claims.


BIOLIFE SOLUTIONS: Director Thomas Girschweiler Quits
-----------------------------------------------------
Thomas Girschweiler resigned from the Board of Directors of
BioLife Solutions, Inc., effective March 5, 2014.

The Company's Board of Directors currently consists of five
directors, Michael Rice, Raymond Cohen, Andrew Hinson, Rick
Stewart and Joe Schick.  As previously announced, Mr. Schick, a
senior financial leader for several high growth companies, was
appointed to the Board of Directors on Nov. 19, 2013, following
the resignation, effective Nov. 5, 2013, of Roderick de Greef to
pursue other interests.  Messrs. Cohen, Hinson, Schick and Stewart
are considered independent under the rules of the Nasdaq Stock
Market.

                     About BioLife Solutions

Bothell, Washington-based BioLife Solutions, Inc., develops and
markets patented hypothermic storage and cryo-preservation
solutions for cells, tissues, and organs, and provides contracted
research and development and consulting services related to
optimization of biopreservation processes and protocols.

BioLife Solutions incurred a net loss of $1.08 million in 2013,
a net loss of $1.65 million in 2012, and a net loss of $1.95
million in 2011.  As of Sept. 30, 2013, the Company had $3.20
million in total assets, $16.06 million in total liabilities and a
$12.85 million total shareholders' deficiency.


BROWN ACRES: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Brown Acres Inc.
           fka Alvernon Way Office Suites
           fka Caprock Mountain Ranch
        1037 S Alvernon Way # 100
        Tucson, AZ 85711

Case No.: 14-03743

Chapter 11 Petition Date: March 19, 2014

Court: United States Bankruptcy Court
       District of Arizona (Tucson)

Judge: Hon. Eileen W. Hollowell

Debtor's Counsel: Eric Slocum Sparks, Esq.
                  ERIC SLOCUM SPARKS PC
                  110 S Church Ave #2270
                  Tucson, AZ 85701
                  Tel: 520-623-8330
                  Fax: 520-623-9157
                  Email: law@ericslocumsparkspc.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Stan Brown, president.

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


BUILDERS FIRSTSOURCE: Reports $4.5 Million Net Income in Q4
-----------------------------------------------------------
Builders FirstSource, Inc., reported net income of $4.52 million
on $369.11 million of sales for the three months ended Dec. 31,
2013, as compared with a net loss of $12.04 million on $287.58
million of sales for the same period in 2012.

For the fiscal year ended Dec. 31, 2013, the Company reported
a net loss of $42.69 million on $1.48 billion of sales as compared
with a net loss of $56.85 million on $1.07 billion of sales for
the fiscal year ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $515.83 million in total
assets, $500.47 million in total liabilities and $15.36 million in
total stockholders' equity.

Commenting on the company's results, Builders FirstSource Chief
Executive Officer Floyd Sherman said, "We ended fiscal 2013 with
sales of approximately $1.5 billion, a 39.2 percent increase over
fiscal year 2012 sales.  From a U.S. single-family housing starts
perspective, 2013 ended with 618,400 actual starts, up 15.5
percent over 2012, but still well below the historical average of
the past fifty years.  When coupled with the ongoing recovery in
U.S. housing, our market share gains of recent years have helped
accelerate the pace of our sales growth. In turn, this enabled us
to end fiscal 2013 with positive earnings before taxes, when
excluding the effects of charges related to our May 2013 debt
refinancing."

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

                       http://is.gd/GVLSLR

                    About Builders FirstSource

Headquartered in Dallas, Texas, Builders FirstSource Inc. --
http://www.bldr.com/-- supplies and manufactures building
products for residential new construction.  The Company operates
in nine states, principally in the southern and eastern United
States, and has 55 distribution centers and 51 manufacturing
facilities, many of which are located on the same premises as its
distribution facilities.

                           *     *     *

As reported by the TCR on May 15, 2013, Standard & Poor's Ratings
Services Inc. said it raised its corporate credit rating on
Dallas-based Builders FirstSource to 'B' from 'CCC'.  "The upgrade
acknowledges U.S.-based building materials manufacturer and
distributor Builders FirstSource Inc.'s 'strong' liquidity based
on the company's proposed recapitalization," said Standard &
Poor's credit analyst James Fielding.

Builders FirstSource carries a Caa1 Corporate Family Rating from
Moody's Investors Service.


C&K MARKET: Has Until June 17, 2014 to Decide on Unexpired Leases
-----------------------------------------------------------------
The Hon. Frank R. Alley of the U.S. Bankruptcy Court for the
District of Oregon extended, at the behest of C&K Market, Inc.,
the period in which Debtor must assume or reject unexpired leases
of non-residential real property through and including the earlier
of (i) June 17, 2014, or (ii) the date of the entry of an order
confirming a plan.

The Debtor is currently the tenant under various non-residential
real property leases.  The Debtor has performed all of its
obligations arising from and after the Petition Date under the
Leases and will continue to perform the obligations pending
assumption or rejection.

The Debtor has employed Hilco Real Estate, LLC, as real estate
consultant to assist Debtor in evaluating the Leases.  Hilco has
not yet completed its analysis or completed its negotiations with
the landlords.

The Debtor employed Karl V. Wissmann as Chief Operating Officer,
as of Feb. 24, 2014.  Mr. Wissman is in the process of evaluating
the Leases.

The Debtor stated in its March 6, 2014 court filing that it needs
additional time to allow Hilco and its COO to complete their
evaluation of the Leases.  It is premature for Debtor to assume or
reject the Leases at this time, the Debtor said.

On March 17, 2014, the Court entered a stipulated order extending
the period in which Debtor must assume or reject that certain
lease agreement between Debtor and the landlord relating to the
real property located at the corner of Highway 101 and Willow
Street in Waldport, Oregon, through and including May 19, 2014.

                         About C&K Market

C&K Market Inc., a 57 year-old grocery store chain, sought
bankruptcy protection from creditors with a plan to sell or close
some of its stores, on Nov. 19, 2013 (Bankr. D. Ore. Case No.
13-64561).  The case is assigned to Judge Frank R. Alley, III.

C&K Market scheduled $157,696,921 in total assets and $101,604,234
in total liabilities.

The Debtor is represented by Albert N. Kennedy, Esq., Timothy J.
Conway, Esq., Michael W. Fletcher, Esq., and Ava L. Schoen, Esq.,
at Tonkon Torp LLP, in Portland, Oregon.  Edward Hostmann has been
tapped as chief restructuring officer, and The Food Partners, LLC,
serves as the Debtor's financial advisor.  Kieckhafer Schiffer &
Company LLP serves as advisors and consultants to communicate with
lenders, brokers, attorneys and other professionals.  Henderson
Bennington Moshofsky, P.C., serves as accountants.  Watkinson
Laird Rubenstein Baldwin & Burgess PC serves as labor counsel.
The Debtor hired Great American Group, LLC, to conduct store
closing sales.  Kurtzman Carson Consultants is the Debtor's
noticing agent.

An Official Committee of Unsecured Creditors appointed in the
Debtor's case has retained Scott L. Hazan, Esq., David M. Posner,
Esq., and Jenette A. Barrow-Bosshart, Esq., at Otterbourg P.C. as
lead co-counsel, and Tara J. Schleicher, Esq., at Farleigh Wada
Witt as local co-counsel; and Protiviti, Inc. as financial
consultant.

C&K Market has filed a Chapter 11 plan and accompanying disclosure
statement dated Jan. 31, 2014, which provide that each holder of
an allowed general unsecured claim will receive one share of
common stock of the reorganized debtor in exchange for each $10 of
the holder's allowed general unsecured claim and a subscription
right in the event the Debtor elects to consummate a rights
offering.  The Plan provides for the payment in full on the
Effective Date of all Allowed Administrative Expense Claims,
Priority Tax Claims, Other Priority Claims and the Allowed Secured
Claim of U.S. Bank.  The Plan provides for the payment in full
over time, with interest, of all other Secured Claims.  In
general, Secured Creditors with personal property collateral will
be paid in 60 equal amortizing payments, with interest at 5%, and
Secured Creditors with real property collateral will be paid in 84
equal amortizing payments with interest at 5% based on a 25-year
amortization with a balloon payment in seven years.


CAMCO FINANCIAL: Gator Capital Stake at 1.7% as Dec. 31
-------------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Gator Capital Management, LLC, disclosed that
as of Dec. 31, 2013, it beneficially owned 247,225 shares of
common stock of Camco Financial Corporation representing 1.7
percent of the shares outstanding.  A copy of the regulatory
filing is available at http://is.gd/zyH6Fb

                       About Camco Financial

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

Plante & Moran PLLC, in Auburn Hills, Michigan, in their report on
the consolidated financial statements for the year ended Dec. 31,
2012, noted that the Corporation's bank subsidiary is not in
compliance with revised minimum regulatory capital requirements
under a formal regulatory agreement with the banking regulators,
and that failure to comply with the regulatory agreement may
result in additional regulatory enforcement actions.

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

Camco Financial reported net earnings of $7.83 million on $27.91
million of total interest income for the 12 months ended
Dec. 31, 2013, as compared with net earnings of $4.16 million on
$31.62 million of total interest income for the 12 months ended
Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $774.38 million in total
assets, $704.13 million in total liabilities and $70.24 million in
stockholders' equity.


CASPIAN SERVICES: Incurs $699,000 Net Loss in Dec. 31 Qtr.
----------------------------------------------------------
Caspian Services, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $699,000 on $9.75 million of total revenues for the
three months ended Dec. 31, 2013, as compared with a net loss of
$3.01 million on $5.05 million of total revenues for the same
period in 2012.

As of Dec. 31, 2013, the Company had $80.82 million in total
assets, $91.66 million in total liabilities and a $10.83 million
total deficit.

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

                        http://is.gd/sZWK8B

                       About Caspian Services

Headquartered in Salt Lake City, Caspian Services, Inc., was
incorporated under the laws of the state of Nevada on July 14,
1998.  Since February 2002 the Company has concentrated its
business efforts to provide diversified oilfield services to the
oil and gas industry in western Kazakhstan and the Caspian Sea,
including providing a fleet of vessels, onshore, transition zone
and marine seismic data acquisition and processing services and a
marine supply and support base in the port of Bautino, in Bautino
Bay, Kazakhstan.

Caspian Services incurred a net loss of $11.82 million on $33.08
million of total revenues for the year ended Sept. 30, 2013, as
compared with a net loss of $15.95 million on $24.74 million of
total revenues during the prior fiscal year.

Haynie & Company, P.C., in Salt Lake City, Utah, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Sept. 30, 2013.  The independent auditors noted
that a Company creditor has indicated that it believes the Company
may be in violation of certain covenants of certain substantial
financing agreements.  The financing agreements have acceleration
right features that, in the event of default, allow for the loan
and accrued interest to become immediately due and payable.  As a
result of this uncertainty, the Company has included the note
payable and all accrued interest as current liabilities at
Sept. 30, 2013.  At Sept. 30, 2013, the Company had negative
working capital of approximately $66,631,000.  Uncertainty as to
the outcome of these factors raises substantial doubt about the
Company's ability to continue as a going concern.

                        Bankruptcy Warning

To help the Company meet its additional funding obligations to
construct the marine base, in 2008 the Company entered into two
facility agreements pursuant to which the Company received debt
funding of $30,000.  In June and July 2011, Mr. Bakhytbek
Baiseitov (the "Investor") acquired the two facility agreements.
In September 2011 the Company issued the Investor two secured
promissory notes, a Secured Non-Negotiable Promissory Note in the
principal amount of $10,800 and a Secured Convertible Consolidated
Promissory Note in the principal amount of $24,446 in connection
with restructuring the facility agreements.

During December 2012 the Company, the European Bank for
Reconstruction and Development and the Investor outlined the terms
of a potential restructuring of the Company's financial
obligations to EBRD and the Investor in a non-binding term sheet.
Throughout the fiscal year the parties have worked to negotiate
definitive agreements pursuant to the terms set out in the Term
Sheet.  Subsequent to the fiscal year end, negotiations between
EBRD, the Investor and the Company to restructure the Company's
financial obligations pursuant to the terms of the Term Sheet
stalled and have been discontinued.  However, the Company has
engaged in new discussions with EBRD regarding a possible
restructuring of its financial obligations to EBRD.

"Should EBRD or the Investor determine to accelerate the Company's
repayment obligations to them, the Company currently has
insufficient funds to repay its obligations to EBRD or the
Investor, individually or collectively, and would be forced to
seek other sources of funds to satisfy these obligations.  Given
the Company's current and near-term anticipated operating results,
the difficult credit and equity markets and the Company's current
financial condition, the Company believes it would be very
difficult to obtain new funding to satisfy these obligations.  If
the Company is unable to obtain funding to meet these obligations
EBRD or the Investor could seek any legal remedies available to
them to obtain repayment, including forcing the Company into
bankruptcy, or in the case of the EBRD loan, which is
collateralized by the assets, including the marine base, and bank
accounts of Balykshi and CRE, foreclosure by EBRD on such assets
and bank accounts.  The Company has also agreed to collateralize
the Investor's Notes with non-marine base related assets,"
according to the Company's 2013 Annual Report.


COSI INC: Activist Says Poison Pill Is Stomach-Churning
-------------------------------------------------------
Sarah Pringle, writing for The Deal, reported that activist
investor Attiva Capital Partners Ltd. is stirring things up at
Deerfield, Ill.-based Cosi Inc., demanding that the unprofitable
sandwich franchise chain eliminate its poison pill and take
measures to confront its fiscal problems.

"Paraphrasing Pink in her famous song 'Just Like a Pill': Instead
of making shareholders and the company better this 'pill' is
making us ill," Attiva managing partner David Tomasello wrote in a
March 11, 13D filing with the Securities and Exchange Commission,
the report cited.

The activist with its 5.1% stake wants Cosi to consider selling
company-owned stores to franchisees and to issue stock options,
the report said.

New York-based Attiva is also calling for Cosi to include
directors with substantial stock ownership, the report related.
No one on Cosi's board owns more than 2.33% of the company's
common or preferred share, with its five directors together
holding only a 4.66% stake in the company.

The shareholder's concerns aren't surprising, given that the chain
has yet to turn a profit since going public in 2002, the report
further related.  Cosi posted an $11.4 million loss during fiscal
2013 on $86.3 million in revenue.


CROWN MEDIA: Reports $67.7 Million Net Income in 2013
-----------------------------------------------------
Crown Media Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing
net income attributable to common stockholders of $67.71 million
on $377.80 million of net total revenue for the year ended
Dec. 31, 2013, as compared with net income attributable to common
stockholders of $107.35 million on $349.87 million of net total
revenue for the year ended Dec. 31, 2012.

For the three months ended Dec. 31, 2013, the Company reported net
income and comprehensive income of $26.66 million on $118.38
million of net total revenue as compared with net income and
comprehensive income of $70.11 million on $102.30 million of net
total revenue for the same period in 2012.

As of Dec. 31, 2013, the Company had $1.03 billion in total
assets, $639.08 million in total liabilities and $399.14 million
in total stockholders' equity.

"Crown Media experienced strong ratings growth and operating
results in fourth quarter and full year 2013, driven by our
strategy to expand and enhance our original programming slates for
Hallmark Channel and Hallmark Movie Channel," said Bill Abbott,
president and CEO of Crown Media Family Networks.  "In addition to
the success of our first original scripted series, Cedar Cove,
Hallmark Channel's Countdown to Christmas campaign positively
impacted advertising sales revenue and garnered record high
ratings in Fourth Quarter, including the highest quarter, month,
week, day, and telecast in network history.  Hallmark Movie
Channel saw double digit year-over-year ratings growth versus
2012, continued to see solid distribution increases for the year,
and closed out a successful fourth quarter with the launch of the
network's own holiday programming franchise, The Most Wonderful
Movies of Christmas.  We are well positioned at the outset of 2014
to build on this momentum and leverage our investment in original
programming and distribution gains to further drive our bottom
line."

                         Bankruptcy Warning

"Our senior secured credit facilities and the indenture governing
the Notes contain a number of covenants that impose significant
operating and financial restrictions on us which, among other
things, limit our ability to do the following:

   * incur additional debt or issue certain preferred shares;

   * pay dividends on or make distributions in respect of our
     capital stock or make other restricted payments;

   * make certain payments on debt that is subordinated or secured
     on a junior basis;

   * make certain investments;

   * sell certain assets;

   * create liens on certain assets;

   * consolidate, merge, sell or otherwise dispose of all or
     substantially all of our assets;

   * enter into certain transactions with our affiliates; and

   * designate our subsidiaries as unrestricted subsidiaries.

Any of these restrictions could limit our ability to plan for or
react to market conditions and could otherwise restrict corporate
activities.  Any failure to comply with these covenants could
result in a default under our senior secured credit facilities and
the indenture governing the Notes.  Upon a default, unless waived,
the lenders under our senior secured credit facilities could elect
to terminate their commitments, cease making further loans,
foreclose on our assets pledged to such lenders to secure our
obligations under the senior secured credit facilities and force
us into bankruptcy or liquidation. Holders of the Notes would also
have the ability ultimately to force us into bankruptcy or
liquidation, subject to the indenture governing the Notes," the
Company said in the Annual Report.

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

                        http://is.gd/MJu9pE

                         About Crown Media

Studio City, Calif.-based Crown Media Holdings, Inc. (NASDAQ:
CRWN) -- http://www.hallmarkchannel.com/-- owns and operates
cable television channels dedicated to high quality, broad appeal,
entertainment programming.  The Company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to 90 million subscribers in the U.S.
Crown Media also operates a second 24-hour linear channel,
Hallmark Movie Channel, available in both HD and SD, which focuses
on family-friendly movies with a mix of classic theatrical films,
presentations from the acclaimed Hallmark Hall of Fame library,
original Hallmark Channel movies and special events.

                           *     *     *

As reported by the TCR on May 28, 2012, Standard & Poor's Ratings
Services raised its corporate credit rating on Studio City,
Calif.-based cable network company Crown Media Holdings Inc. to
'B+' from 'B'.  "The upgrade reflects Crown Media's recent
operating performance, which achieved higher EBITDA and lower
leverage than our expectations," said Standard & Poor's credit
analyst Deborah Kinzer.

Crown Media carries a B2 Corporate Family Rating from Moody's
Investors Service.  Crown Media's B2 CFR reflects the company's
small size and niche market position among cable network
operators, concentration in two Hallmark-branded channels,
reliance on licensed third party content for a majority of its
programming, and high leverage.


DETROIT, MI: Syncora May Object to New Swap Settlement
------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Detroit's new swap settlement may not sail through
bankruptcy court unopposed as bond insurer Syncora Guarantee Inc.
has said in court "there is a likelihood that we will object,"
even though the new $85 million settlement is almost half as
costly as the $165 million settlement the bankruptcy judge
disapproved in January as too rich.

The settlement is with the Merrill Lynch Capital Services Inc.
unit of Bank of America Corp. and UBS AG, the report related.
They made the swap agreement intended to protect Detroit from
rising interest rates on floating-rate loans taken down to fund
the pension systems.

                 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.


DETROIT, MI: Retirement Systems Criticize Plan Support Deal
-----------------------------------------------------------
The Police and Fire Retirement System of the City of Detroit and
the General Retirement System of the City of Detroit filed their
limited objection dated March 17, 2014, to the City's motion for
approval of a settlement and Plan support agreement.

The Retirement Systems do not object to the economic terms of the
settlement, but reserve the right to object to any treatment of
their claims and interests as well as their beneficiaries' under
any plan of adjustment or otherwise, including without limitation
that the treatment is inequitable relative to the treatment of the
claims of the so-called Swap Counterparties under the settlement.

The Retirement Systems also find the proposed collateralization of
the settlement as well as certain provisions in the proposed order
"problematic".

At the time Detroit filed for Chapter 9 bankruptcy, it was in
default under certain interest rate swap agreements with UBS AG
and Merrill Lynch Capital Services, Inc.  It ultimately reached an
agreement on the principal terms of a settlement and plan support
agreement that accomplishes a solution that would reduce its
potential liability to the Swap Counterparties, which would be
approximately $288 million, and ensure continued access to
critically-needed casino revenues that the City purportedly had
pledged to secure these obligations.

On March 4, the Debtor filed a corrected plan support agreement,
and sought Court approval of the settlement and plan support
agreement.

Under the proposed Agreement, the City will continue to make
payment to the Swap Counterparties up to the aggregate sum of
$85 million in cash-less a credit of approximately $8.4 million
that is deposited in the lockbox structure-in full satisfaction of
the claims between the parties.

In addition to this approximately 70% reduction in the payment
amount, the City will make payments in manageable amounts over
time, rather than in a lump sum.  Pursuant to a payment schedule,
the City will continue to make quarterly payments to the Swap
Counterparties.

The Swap Counterparties agree to release their claims against the
City and vote in favor of a plan of adjustment proposed by the
City that affords them such treatment.

Detroit has said the agreement provides other important benefits
to the City in its overall rehabilitative efforts.  In addition to
providing a 70% discount off of the amount that would allegedly be
payable by the City, the settlement will provide greater certainty
with respect to the City's cash flows and liquidity -- the City
will have continued access to its casino revenues and will not
have an obligation to put aside monies in a disputed claims
reserve for the benefit of the Swap Counterparties.  This greater
certainty with respect to the City's cash flows and liquidity will
simplify the City's ability to obtain quality of life financing to
improve vital services for the citizens of Detroit.

The agreement also puts the City in a better position to make
additional consensual deals with other creditors by expanding the
options available to it during this critical time period in the
case when negotiations and mediation are ongoing.

A copy of the corrected plan support agreement is available for
free at http://is.gd/sf02II

A copy of the original Plan support agreement, dated March 3, is
available for free at http://is.gd/2KcOXW

                 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.

On Dec. 23, 2013, five unsecured creditors were appointed to the
Official Committee of Unsecured Creditors.  The Committee was
later disbanded at the City's behest.


DETROIT, MI: Creditors Panel's Bid to Retain MoFo Denied
--------------------------------------------------------
The Bankruptcy Court denied approval of the request filed by the
Official Committee of Unsecured Creditors in the Chapter 9 case of
the City of Detroit, Michigan, to retain Morrison & Foerster LLP
as its counsel.

The ruling is in line with Judge Steven Rhodes' decision granting
granted the City of Detroit's request to disband the Unsecured
Creditors Committee.

The Debtor filed a limited objection to the retention, saying it
has not agreed (and does not agree) to pay any fees or expenses
incurred by Morrison & Foerster.

On Feb. 14, the Committee requested that the Court approve the
retention of Morrison & Foerster as its counsel to, among other
things:

   a) assist and advise the Committee in its consultation with
      the City relative to the administration of the chapter 9
      case;

   b) attend meetings and negotiate with the representatives
      of the City and other parties in interest; and

   c) assist and advise the Committee in its examination and
      analysis of the conduct of the City's affairs.

Morrison & Foerster's hourly rates are:

   Partners                $705 to $1,250
   Of Counsel              $595 to   $975
   Associates              $280 to   $750
   Paraprofessionals       $185 to   $410

These professionals at Morrison & Foerster expected to have
primary responsibility for providing services to the Committee,
and their hourly rates were:

   Brett H. Miller, partner        $1,050
   Lorenzo Marinuzzi, partner        $995
   Larry Engel, partner              $950
   Melissa A. Hager, of counsel      $825
   William Hildbold, associate       $610
   Jessica Arett, associate          $415
   Danielle Braun, paraprofessional  $290

The Committee had said that, to the best of its knowledge,
Morrison & Foerster is a "disinterested person," as that term is
defined in Section 101(14) of the Bankruptcy Code.

                 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.


DETROIT, MI: Court Rejects Creditors Panel's Bid to Hire Steinberg
------------------------------------------------------------------
The Bankruptcy Court denied the motion of the Official Committee
of Unsecured Creditors in the Chapter 9 case of the City of
Detroit, Michigan, to retain Steinberg Shapiro & Clark, as its
co-counsel.

The ruling is in line with Judge Steven Rhodes' decision granting
granted the City of Detroit's request to disband the Unsecured
Creditors Committee.

The Debtor filed a limited objection to the retention, stating
that the City has not agreed (and does not agree) to pay any fees
or expenses incurred by SSC.  Similarly, SSC may not apply to the
Court for compensation of professional services rendered to the
Creditors' Committee or reimbursement of expenses incurred in
connection therewith.

On Feb. 14, the Committee requested that the Court approve the
retention of SSC as co-counsel to provide it with legal advice
with respect to its powers and duties as a Committee in connection
with the Debtor's Chapter 9 case, and to perform other necessary
legal services on its behalf.

The supposed SSC personnel assigned to the engagement and their
hourly rates were:

         Mark H. Shapiro                   $300
         Tracy M. Clark                    $275
         Geoffrey T. Pavlic                $285
         Jordan M. Sickman                 $240
         Lauren Schumacher Oriani          $195
         Legal Assistants                  $125

The Committee said SSC has no adverse interest to the estate or
any class of creditors.

                 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.


DETROIT, MI: Bankruptcy Judge Criticizes Liability Insurance Plan
-----------------------------------------------------------------
Christine Ferretti, writing for The Detroit News, reported that
U.S. Bankruptcy Judge Steven Rhodes had harsh words for attorneys
fighting for a lofty insurance policy to protect members of a
retiree committee from legal backlash associated with Detroit's
Chapter 9 case.

According to the report, the nine-member committee of retirees,
appointed to represent former city workers in the bankruptcy case,
want taxpayers to underwrite the $602,250 insurance policy, a
"necessary" expense, of their unpaid service.  But the city, which
requested the committee be formed and is footing its attorney
bills, opposes the request for the "errors and omissions"
liability insurance that would come out of the financially
insolvent city's coffers.

While sympathetic to concerns of committee members, Judge Rhodes
was critical of the request, noting the proposed funding pot could
better be used to pay for police officers, EMS workers or
firefighters in the "service delivery insolvent" city, the report
related.  The amount, he added, appears to be "grossly
disproportionate" to what would actually be needed.

"Every dollar that goes to an insurance policy is one less dollar
that can go to services," Judge Rhodes told attorneys during the
motion hearing in Detroit's federal court, the report further
related.  "I've already said at some point, the city has to stop
making bad financial decisions. This is the time."

                 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.


DETROIT, MI: Retirees Say Pension Cuts Will Impoverish Them
-----------------------------------------------------------
Law360 reported that Detroit retirees took to bankruptcy court to
air their fears about the city's proposed plan of adjustment,
which could force them to swallow hefty cuts to their pensions,
with many noting that such measures would force them to seek
public assistance.

According to the report, the objections came just as the judge
overseeing Detroit's bankruptcy pushed back the start of its
confirmation trial to July 16.  Around 90 individual objections
were filed in Detroit's bankruptcy docket as of March 6, several
of which were handwritten, the report related.

                 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.


DEWEY & LEBOEUF: Case Shows Staffers Help Boss at Their Own Peril
-----------------------------------------------------------------
Law360 reported that a junior Dewey & LeBoeuf LLP staffer hit with
criminal charges for his alleged role in a scheme to misstate the
firm's financial position serves as a cautionary tale for any
BigLaw employees who feel shielded from liability for the actions
of their lawyer bosses, experts say.

According to the report, Zachary Warren, 29, who joined the just-
formed firm in 2008 soon after college, walked in handcuffs into a
Manhattan court alongside three top Dewey executives: former
Chairman Steven Davis, former Executive Director Stephen DiCarmine
and former Chief Financial Officer Joel Sanders.

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


DEWEY & LEBOEUF: 7 Ex-Employees Plea Guilty to Manipulation
-----------------------------------------------------------
Matthew Goldstein, writing for The New York Times' DealBook,
reported that when Manhattan District Attorney Cyrus R. Vance,
Jr., announced the filing of a 106-count indictment against three
former executives and one low-level employee of Dewey & LeBoeuf,
he also said he has secured guilty pleas and potential cooperation
from seven former employees of the defunct firm.

The identities and plea agreements of these former employees,
however, are being kept under wraps by New York prosecutors, and
this decision to keep their names secret even after the four
accused had been arrested and charged is striking some in the
legal world as surprising, the report said.  Defense lawyers say
the continued sealing of those cases is akin to the way
prosecutors often handle organized crime cases or an undercover
investigation.

"It's not the typical process," Alafair S. Burke, a criminal law
professor at the Hofstra University School of Law and a writer of
crime novels, told the DealBook.  Ms. Burke said she could
understand the prosecutors wanting to keeping secret the names of
people who had pleaded guilty if there was a fear of witness-
tampering or witness intimidation. But that seems unlikely in what
is essentially a white-collar accounting fraud case, she said.

"It is unusual to have the pleas sealed at this juncture and in
the context of this case," Christopher E. Chang, a defense lawyer
and a former Manhattan assistant prosecutor, also told the
DealBook.

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


DIGICEL GROUP: Moody's Rates New $865MM Sr. Unsecured Notes Caa1
----------------------------------------------------------------
Moody's Investors Service has assigned a Caa1 rating to Digicel
Group Limited's ("Digicel", "DGL" or the "company") proposed
offering of $865 million Senior Unsecured Notes due 2022. The use
of proceeds will be used to redeem 100% of the existing Digicel
Group Limited 10.5% Senior Unsecured Notes due 2018, including
redemption premiums, accrued interest and fees. Incorporated into
the rating action is the possibility of the offering being upsized
to as much as $1 billion. Moody's believes that any additional
upsizing would be used to add a small amount of cash to the
balance sheet to be used for general corporate purposes and/or
future acquisitions.

Rating Assigned:

Issuer: Digicel Group Limited

Senior Unsecured Notes due September 2022 -- Caa1 (LGD-5, 82%)

Ratings Rationale

Digicel's B2 Corporate Family Rating (CFR) is supported by its
leading position as the largest wireless telecommunications
carrier in the Caribbean, as well as its successful track record
at gaining significant market share and producing solid operating
results relatively quickly after new markets are launched. The
company's growing penetration in markets outside of its long-
standing Jamaica base has resulted in quick deleveraging from
roughly the 10.0x level following recapitalization of the balance
sheet in early 2007, to 5.1x total debt to EBITDA (Moody's
adjusted) as of December 31, 2013.

However, Digicel's history of debt funded acquisitions and sizable
dividend payments, plus the likelihood that in the future DGL
could acquire the portion of DHCAL that it does not currently own
weigh down the rating. While the company continues to have strong
geographic diversification, this is mitigated by its exposure to
Jamaica (about 14% of total revenue), which is struggling to
revive its economy and experiencing competitive telecom pricing
following the implementation of a new regulatory and tax scheme
designed to increase government receipts. Further, slowing
subscriber growth, lower pricing plans and adverse foreign
currency movements relative to the US dollar in Digicel's three
largest geographies (Jamaica, Haiti and Papua New Guinea)
accounting for over 45% of revenue have resulted in a 1% revenue
decline for the nine months ended December 2013.

The stable rating outlook reflects Moody's opinion that DGL is
unlikely to drive debt to EBITDA leverage to under 4x (Moody's
adjusted) over the rating horizon given the incremental debt
incurred as a result of this capital raise together with the
upsized $1.3 billion notes issued earlier this year (March),
combined with evidence of slowing subscriber growth in Digicel's
core markets and flat operating cash flow growth. The outlook also
reflects Moody's view that over the next two years, the company
could use debt to acquire more DHCAL equity from its principal
shareholder, Denis O'Brien.

Moody's could upgrade Digicel's rating if the company demonstrated
a less aggressive dividend philosophy, financial policies targeted
leverage lower than 4x debt to EBITDA (Moody's adjusted), and if
the operations exhibited positive free cash flow generation in
excess of 5% of total debt (Moody's adjusted) on a sustained basis
while maintaining very good liquidity.

The ratings could be downgraded if operational shortfalls or
unexpected acquisitions/investments elevated Digicel's leverage
above 6x debt to EBITDA (Moody's adjusted) within an 18 - 24 month
horizon. The ratings will likely experience downward pressure if
competition escalates in the company's core markets or if
deterioration in the political, economic and regulatory
environments in the Caribbean or South Pacific markets result in
declining operating cash flows and weak liquidity.

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

Incorporated in Hamilton, Bermuda, with headquarters in Kingston,
Jamaica, W.I., Digicel is the largest provider of wireless
telecommunication services in the Caribbean. Revenue for the
twelve months ended December 31, 2013 totaled $2.8 billion.


DOLAN COMPANY: To File Prepack Ch.11; Has $10MM DIP Loan in Place
-----------------------------------------------------------------
The Dolan Company, along with certain of its subsidiaries, has
agreed to a comprehensive balance-sheet restructuring with its
secured lenders that, among other things, will allow the Company
to continue honoring obligations of its employees, customers, and
vendors in the ordinary course of business.  The proposed
restructuring will allow the Company to achieve a capital
structure that will allow the Company to grow its business into
the future.

To implement the restructuring, the Company and certain of its
subsidiaries intend to file voluntary petitions for a prepackaged
chapter 11 bankruptcy in the U.S. Bankruptcy Court for the
District of Delaware.

The Dolan Company's e-discovery business, DiscoverReady LLC, will
not file a chapter 11 petition and its operations will not be
affected by the proposed chapter 11 process.  The filing
subsidiaries and DiscoverReady will continue to operate their
businesses as usual in all respects and the restructuring is not
expected to have a negative effect on the Company's operations.

On March 18, 2014, the Company and its lenders and certain of its
swap counterparties executed a restructuring support agreement
that sets forth the material terms of the chapter 11 restructuring
and secures the support of the secured creditors for that process.
In accordance with the restructuring support agreement, the
Company commenced solicitation for votes on the chapter 11 plan
from the Company's secured creditors, the only parties entitled to
vote under the plan of reorganization.  Solicitation is expected
to conclude at the end of this week.

Upon securing sufficient votes to accept the chapter 11 plan, the
Company will seek relief under chapter 11.  The chapter 11 plan
process will allow the filing subsidiaries of the Company to
deleverage its capital structure by reducing its projected secured
debt obligations from approximately $170 million to approximately
$50 million.

The restructuring support agreement also secures support from the
lenders to refinance DiscoverReady's capital structure with a $10
million unfunded secured revolving facility.  The existing
preferred and common shares will be cancelled and will not receive
a recovery in the chapter 11 plan.  Importantly, the Company will
continue to provide its usual, high-quality services and products
to its customers through this process and, as noted above, will
continue to pay its vendors, employees, and other ongoing
obligations in the normal course of business, and none of these
parties should be materially affected by the chapter 11 filing or
process.

After emergence from bankruptcy, both The Dolan Company and
DiscoverReady LLC will be privately held companies.

"The Company remains well positioned in its core markets.  This
reorganization step is necessary to unlock these current
businesses from the weight of debt principally associated with its
previous mortgage foreclosure processing businesses," said Kevin
Nystrom, the Company's chief restructuring officer.  "The Company
and its lenders are committed to the customers, employees, and
vendors and want to secure a bright future through this process,"
he said.

The plan of reorganization contemplates that the secured lenders
will become the owner of DiscoverReady and The Dolan Company upon
the completion of the restructuring process and each business will
be operated as separate and distinct entities.  Investment funds
managed by Bayside Capital, Inc. will become the majority owner of
DiscoverReady and The Dolan Company.  Bayside Capital is an
affiliate of H.I.G. Capital, a leading global private investment
firm with more than $15 billion of equity capital under
management.

The Company's lenders are expected to provide a $10 million
debtor-in-possession loan to fund the cash needs of the Company
and DiscoverReady through the reorganization process.

In connection with this process, James P. Dolan, the Company's
founder and chief executive officer, and Scott Pollei, the
Company's long-time chief operating officer, have resigned their
positions with the Company, with such resignations to be
concurrent with the planned chapter 11 filing.  Chief Financial
Officer Vicki Duncomb and General Counsel Renee Jackson will
remain in their leadership positions with the Company and will
assist Chief Restructuring Officer Nystrom in managing the
Company's operations.

Given the typical speed of a "pre-packaged" plan of
reorganization, the Company expects to emerge from bankruptcy
within approximately two months.  The Company and DiscoverReady
expect to continue to conduct business as usual through the
restructuring process and expect day-to-day relationships with
employees, vendors, and customers to remain strong.

Minneapolis, Minn., The Dolan Company (OTC:DOLN) --
http://www.thedolancompany.com/-- provides professional services
and business information to the legal, financial and real estate
sectors.  The Company's Professional Services Division provides
specialized outsourced services to the legal profession primarily
through subsidiaries DiscoverReady LLC and Counsel Press.  Counsel
Press is the nation's largest provider of appellate services to
the legal community.  DiscoverReady LLC provides outsourced
discovery management and document review services to major
companies and law firms.  The Company's Business Information
Division publishes business journals, court and commercial media
and other highly focused information products and services,
operates web sites and produces events for targeted legal and
professional audiences in each of the 19 geographic markets that
it serves across the United States.


DOTS LLC: Obtains Authority to Pay Bonuses to 25 Key Employees
--------------------------------------------------------------
Dots, LLC, et al., sought and obtained authority from the U.S.
Bankruptcy Court for the District of New Jersey to implement their
key employee incentive plan; provided, however, that each
participating employee is entitled to receive a bonus under the
KEIP if the Debtors meet the gross sale proceeds thresholds and
the participating employee is employed by the Debtors until the
time his/her services are no longer needed.

The Court also ruled that unless and until the DIP Obligations and
the Prepetition Senior Secured Obligations are indefeasibly repaid
in full, in cash, the Debtors will not make any payments under the
KEIP except as permitted under the DIP Credit Documents and the
Budget.

The Debtors have identified eight executives and divisional
merchandising managers and 17 non-executive management team
members that the Debtors believe are essential to the successful
execution of a sale under Section 363 of the Bankruptcy Code and
will have the most impact on the value achieved through the sale
process.

The total amount payable under the KEIP for all Participating
Employees ranges from aggregate Bonuses of $345,000 if the minimum
sale proceeds threshold of $30,000,000 is achieved, to aggregate
Bonuses of $1,376,000 if the maximum sale proceeds threshold of
$65,000,000 or more is achieved.

The Court overruled an objection raised by Roberta A. DeAngelis,
the U.S. Trustee for Region 3, who complained that the Debtors
failed to disclose the complete title or job description of the
"key" employees or the specifics of why each individual is
essential to maximize distributions to unsecured creditors.

                         About DOTS LLC

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

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

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

As of the Petition Date, the Debtors have outstanding secured debt
owed to senior lender Salus Capital Partners, LLC, of which
$14.5 million remains outstanding under a revolving facility and
$16.1 million is owed under a term facility.  The Debtors also
have not less than $17 million outstanding under subordinated term
loan agreements with Irving Place Capital Partners III L.P.
("IPC") and related entities.  Moreover, the Debtors have
aggregate unsecured debts of $47.0 million.

Salus, the prepetition senior lender and the DIP lender, is
represented by Morgan, Lewis & Bockius, LLP.  The prepetition
subordinated lenders are represented by Okin Hollander & DeLuca,
LLP.

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


EASTMAN KODAK: Posts Net Loss of $63 Million in 4th Quarter 2013
----------------------------------------------------------------
Eastman Kodak Company on March 19 reported financial results for
the fourth quarter and full year 2013.  Performance highlights
include:

Full-year operational EBITDA of $160 million in 2013 was an
improvement by $375 million, excluding fresh start and other
accounting adjustments.

Total net earnings for the year were $1.99 billion, including a
reorganization items net gain of $2.01 billion, as well as a gain
of $535 million related to the sale of the digital imaging patent
portfolio, partially offset by a $77 million non-cash goodwill
impairment charge.  For 2012, there was a net loss of $1.38
billion.

Sales for 2013 declined from the prior year by 14% to $2.35
billion, as the company prioritized profitable opportunities over
sales volume, and sales of motion picture film and consumer inkjet
printer ink continued to decline.  The business emergence plan
revenue projection for 2013 was approximately $2.5 billion.

Full year 2013 gross profit margin improved year-over-year by ten
percentage points, reflecting primarily increased contribution
from non-recurring intellectual property arrangements, product mix
improvements, and cost reductions.

Liquidity remains strong; the year ended with $844 million cash
and debt of $678 million.

Fourth quarter net loss was reduced from $402 million in 2012 to
$63 million in 2013.

Kodak is releasing these financial results in tandem with the
filing of its Form 10-K annual report.

"We had significant year-over-year improvement in our operating
performance, but our sales fell short of our plan.  The decline
was primarily due to the accelerated decline in our motion picture
film business, the decline in revenues in our consumer inkjet
business with the end of printer sales, and the loss of revenue
while we were in reorganization," said Becky Roof, Chief Financial
Officer.

Looking at 2014, Jeff Clarke, Chief Executive Officer, added, "I
am excited about the strong increases we are seeing in revenues
from our emerging technology businesses that will create the
foundation for Kodak's future growth.  We expect to mitigate the
earnings declines in some of our mature businesses with improved
performance from our strategic technology businesses.  I also
believe there are significant opportunities to improve the
productivity and effectiveness of our sales, manufacturing and
administrative functions."

2014 Outlook ? Kodak currently estimates revenue in 2014 will
total approximately $2.1-2.3 billion.  The company anticipates
substantial year-over-year sales growth in its emerging technology
businesses, led by digital printing, packaging and functional
printing; stability in its enterprise services and graphics
communications businesses, and revenue declines for motion picture
film and consumer inkjet printer ink sales.  The company expects
to achieve earnings from continuing operations between a $40
million loss and break-even and Operational EBITDA of
approximately $145-$165 million in 2014.  Capital expenditures of
approximately $50 million are projected.  Kodak does not intend to
release projections beyond 2014 at this time.

                     Kodak Reporting Structure

The company's portfolio of products and services meets two
distinct needs for its customers: transforming large printing
markets with digital offset, hybrid and digital print solutions;
and commercializing new solutions for high-growth markets that
build on the company's developed technologies and proprietary
intellectual property.  Kodak operates under two business
segments: Graphics, Entertainment & Commercial Films (GECF) and
Digital Printing & Enterprise (DP&E).

Graphics, Entertainment & Commercial Films (GECF): The GECF
segment consists of the Graphics and Entertainment & Commercial
Films groups, as well as Kodak's intellectual property and brand
licensing activities.

2013 Full Year ? The decrease in the GECF segment net sales of
approximately 10% for 2013 was primarily due to lower demand for
motion picture film within Entertainment & Commercial Films, as
well as reduced demand in Graphics.  Also contributing to the
decline was unfavorable price/mix within Graphics due to industry
pricing pressures.  Partially offsetting these declines was
favorable price/mix within Intellectual Property and Brand
Licensing due to non-recurring intellectual property licensing
agreements, as well as favorable product price/mix within
Entertainment & Commercial Films due to pricing actions.

The improvement in the GECF segment gross profit percent for the
year was primarily driven by the non-recurring intellectual
property licensing agreements in Intellectual Property and Brand
Licensing and pricing actions in Entertainment & Commercial Films,
and strong manufacturing productivity and other cost improvements
in Graphics.  Partially offsetting these improvements was
unfavorable product price/mix within Graphics due to industry
pricing pressures, as well as increased manufacturing and other
costs within Entertainment & Commercial Films due to lower
industry volumes, and $43 million negative impact of fresh start
and other accounting adjustments.  Excluding the impact of these
adjustments, gross profit improved by $101 million or 7.9% of
revenue due to the improvements outlined above.

In the Graphics business, 450 existing customers and new accounts
have converted to KODAK SONORA Process Free Plates, which provide
cost savings and production efficiencies.  SONORA Plates also
enable printers to improve their sustainability profile by
eliminating the use of processing chemistry and water.

Digital Printing & Enterprise (DP&E): The DP&E segment consists of
four product/service groups, Digital Printing Solutions, Packaging
and Functional Printing, Enterprise Services and Solutions, and
Consumer Inkjet Systems.

2013 Full Year ? The decrease in net sales for the DP&E segment of
approximately 14% in 2013 was primarily attributable to volume
declines within Consumer Inkjet Systems, driven by the
discontinuance of printer sales, and lower sales of ink to the
existing installed base of printers.  Partially offsetting these
declines were volume improvements within Digital Printing, driven
by a larger number of placements of commercial inkjet components.

The increase in the DP&E segment gross profit percent for 2013
resulted mainly from favorable price/mix within Consumer Inkjet
Systems due to a greater proportion of consumer ink sales.  Within
Digital Printing, an increase in scale and productivity
initiatives allowed for cost reductions, which also contributed to
the gross profit improvement.  These improvements were partially
offset by the $39 million negative impact of fresh start
accounting adjustments.  Excluding the impact of fresh start and
other accounting adjustments, gross profit improved by $100
million or 14.7% of revenue due to the improvements outlined
above.

Customers around the world continued to invest in KODAK PROSPER
Solutions.  Confidence in Kodak solutions was also demonstrated in
the packaging segment, where KODAK FLEXCEL NX plate volumes rose
at a strong double-digit level for the year, and Kodak entered a
strategic development agreement with Bobst, a leading supplier of
packaging machinery and services.

                       About Eastman Kodak

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

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

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

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

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

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

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

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

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

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

U.S. Bankruptcy Judge Allan Gropper confirmed the plan on August
20, 2013.  Kodak and its affiliated debtors officially emerged
from bankruptcy protection on Sept. 3, 2013.

Mark S. Burgess, Matt Doheny, John A. Janitz, George Karfunkel,
Jason New and Derek Smith became members of Kodak's new board of
directors as of Sept. 3, 2013.  Existing directors James V.
Continenza, William G. Parrett and Antonio M. Perez will continue
their service as members of the new board.


EDGENET INC: U.S. Trustee Names 5 to Noteholders' Committee
-----------------------------------------------------------
A group of former owners of Edgenet Inc. obtained victory after
Roberta A. DeAngeles, U.S. Trustee for Region 3, named five
members to an official committee of note holders.

The Committee members are:

   (1) Timothy D. Choate
       c/o Bondware, Inc.
       239 John R. Rice Blvd.
       Murfreesboro, TN 37129
       Phone: 615-598-9722

   (2) Richard C. Pinson
       820 Palmer Pl.
       Nashville, TN 37205
       Phone: 615-277-0444

   (3) Robert H. Neal
       800 Kenwick Ct.
       Nashville, TN 37221
       Phone: 615-293-4961

   (4) Fred Marxer
       18040 Windtop Ln.
       Dallas, TX 72587
       Email: fgmarxer@yahoo.com

   (5) Martin Davis
       4301 Hillsboro Pike, Ste. 320
       Nashville, TN 37215
       Phone: 615-298-4338 x 6110

As previously reported by The Troubled Company Reporter, Fred
Marxer, Timothy Choate and Davis Carr -- individuals and holders
of a segment of the promissory notes issued in 2004 that have been
referred to by the Debtors as the "Seller Notes" -- asked the
Bankruptcy Court to issue an order appointing an official
committee of Seller Noteholders, arguing that there is substantial
need in the Chapter 11 cases for an official committee to
represent the interests of the Seller Noteholders.

The Debtors objected to the request, arguing that the Seller
Noteholders are adequately represented in the Chapter 11 cases by
Ernest Wu, who represents a group of Noteholders which
collectively represent about $18.35 million in claims against the
Debtors and who said in papers filed in court that he supports the
formation of a committee, particularly a committee made of up
Noteholders.  The Debtors also objected to the request on the
grounds that an additional committee would be costly and
burdensome.  Liberty Partners Lenders, L.L.C., agreed with the
Debtors and joined their objection.

As a result of the Committee's appointment, the group of former
owners withdrew as moot their request for the appointment of an
official committee.

                         About Edgenet Inc.

Edgenet, Inc., and Edgenet Holding Corp. are providers of cloud-
based content and applications that enable companies to sell more
products and services with greater ease across multiple channels
and devices.  Edgenet has three business locations: Waukesha, WI,
Brentwood, TN, and its main office in Atlanta, GA.  The Company
has 80 employees.

Edgenet Inc. and Edgenet Holding filed for Chapter 11 bankruptcy
protection in Delaware (Lead Case No. 14-10066) on Jan. 14, 2014.

Edgenet Inc. estimated assets of at least $10 million and
liabilities of $100 million to $500 million.

Raymond Howard Lemisch, Esq., at Klehr Harrison Harvey Branzburg
LLP, in Wilmington, Delaware, serves as counsel to the Debtors;
Glass Ratner Advisory & Capital Group LLC is the financial
advisor; JMP Securities, LLC, is the investment banker, and Phase
Eleven Consultants, LLC, is the claims and noticing agent.

The U.S. Trustee has been unable to appoint an official unsecured
creditors committee as no sufficient interest has been generated
from creditors.

Fred Marxer, Timothy Choate and Davis Carr, individuals and
holders of a segment of the promissory notes issued in 2004 that
have been referred to by Edgenet, Inc., et al., requested that the
Court will issue an order appointing an official committee of
Seller Noteholders, or in the alternative, an official committee
of unsecured creditors, with members appointed from the Seller
Noteholders who agree to waive any continued security interest
arising from the Seller Notes.


EDISON MISSION: Files Board of Directors Notice
-----------------------------------------------
Edison Mission Energy, et al., disclosed with the U.S. Bankruptcy
Court for the Northern District of Illinois, Eastern Division,
that the members of the reorganization trust oversight board are
Frederic "Jake" Brace, Timothy J. Bernlohr, Kurt M. Cellar, Eugene
Davis, and Hugh Sawyer.

The members of the board of directors of Post-Reorganization EME
will be Steven Eisenberg, who will also serve as president and
treasurer, Oded Rhone, who will serve as chief financial officer,
assistant treasurer, and assistant secretary, and Norm Geurts, who
will serve as secretary and assistant treasurer.

                      About Edison Mission

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

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

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

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

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

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

The Debtors, other than Camino Energy Company, are also
represented by James H.M. Sprayregen, P.C., Sarah Hiltz Seewer,
Esq., and Seth A. Gastwirth, Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois; and Joshua A. Sussberg, Esq., at Kirkland &
Ellis LLP, in New York.  Debtor Camino Energy Company is
represented by David A. Agay, Esq., and Joshua Gadharf, Esq., at
McDonald Hopkins LLC, in Chicago, Illinois.

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

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

EME's Joint Plan of Reorganization provides for the sale of all or
substantially all of Debtors MWG, EME, and Midwest Generation EME,
LLC, will be sold to NRG Energy, Inc.  The Plan was confirmed on
March 11, 2014.


ELITE PHARMACEUTICALS: CEO Stake at 23.2% as of Feb. 7
------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Nasrat Hakim disclosed that as of Feb. 7,
2014, he beneficially owned 156,571,284 shares of common stock of
Elite Pharmaceuticals, Inc., representing 23.2 percent of the
shares outstanding.  Mr. Hakim is the president, CEO and a
director of Elite Pharmaceuticals.  A copy of the regulatory
filing is available for free at http://is.gd/E4Hu9Y

                     About Elite Pharmaceuticals

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

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

The Company's balance sheet at Dec. 31, 2013, showed $18.27

million in total assets, $23.20 million in total liabilities and a

$4.92 million total stockholders' deficit.


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


EWGS INTERMEDIARY: Court Extends Lease Decision Period to March 31
------------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware has extended, at the behest of EWGS
Intermediary, et al., the 120-day period during which the Debtors
must assume or reject their unexpired leases of nonresidential
property through and including March 31, 2014.

As reported by the Troubled Company Reporter on Feb. 12, 2014, the
Court entered on Dec. 5, 2013, an order approving the sale of
substantially all of the Debtors' assets to a joint venture
between Hilco Merchant Resources, LLC, and GWNE, Inc.  The Debtors
were authorized to, among other things, enter into an agency
agreement whereby Hilco would conduct store closing sales at the
Debtors' locations that weren't assumed and assigned to GWNE.
Since the store closing sales required the utilization of the
Debtors' leases, the end date for the proposed store closing sales
under the agency agreement was set to coincide with the expiration
of the Debtors' period to assume or reject leases of
nonresidential real property at 120 days after the Petition Date,
or March 4, 2014.

A number of the leases that have been utilized by Hilco have been
rejected or are subject to pending motions to reject.  However,
Hilco has indicated to the Debtors that it would like to continue
the store closing sales at some of the other locations for a short
period of time, which wouldn't extend beyond March 31, 2014.

                       About EWGS Intermediary

EWGS Intermediary and Edwin Watts Golf Shops, which operate as an
integrated, multi-channel retailer, offering brand name golf
equipment, apparel and accessories, filed for Chapter 11
protection on Nov. 4, 2013 (Bankr. D. Del. Lead Case No.
13-12876).  They are represented by Domenic E. Pacitti, Esq., and
Michael W. Yurkewicz, Esq., at Klehr Harrison Harvey Branzburg
LLP, in Wilmington, Delaware.  The Debtors tapped Bayshore
Partners LLC as their investment banker, FTI Consulting, LLC, as
their financial advisors, and Epiq Bankruptcy Solutions, LLC, as
claims and noticing agent.

PNC Bank, National Association, the DIP Agent, is represented by
Regina Stango Kelbon, Esq., at Blank Rome LLP, in Wilmington,
Delaware.

Lawrence C. Gottlieb, Esq., Jay R. Indyke, Esq., Brent Weisenberg,
Esq., at Cooley LLP, serve as lead counsel to the Official
Committee of Unsecured Creditors.  Michael J. Merchant, Esq.,
Christopher M. Samis, Esq., and William A. Romanowies, Esq., at
Richards, Layton & Finger, P.A. serve as Delaware counsel.  The
Committee hired PricewaterhouseCoopers LLP as its financial
adviser.

The Debtors said total assets are greater than $100 million.  In
its schedules, EWGS Intermediary disclosed $0 in assets and
$77,801,784 in total liabilities.

Hilco Merchant Resources, a unit of Hilco Global, on Dec. 5
disclosed that it has completed a $40 million deal to purchase all
the assets of golf retail brand Edwin Watts, in partnership with
GWNE, Inc., an affiliate of Worldwide Golf Shops.  The transaction
was approved by the bankruptcy court and closed on Dec. 5.


EWGS INTERMEDIARY: Yann Geron Named as Independent Fee Examiner
---------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware entered on March 7, 2014, an order appointing
Yann Geron, Esq., of Fox Rothschild LLP, as independent fee
examiner in the Chapter 11 cases of EWGS Intermediary, et al.

Given the size and complexity of the Chapter 11 cases, Roberta A.
DeAngelis, the U.S. Trustee for Region 3, has proposed to the
Debtors and the Committee of Unsecured Creditors that an
independent fee examiner be recommended to and appointed by the
Court to review and report as appropriate on monthly invoices
submitted in accordance with the compensation order and all
interim and final applications for allowance of compensation and
reimbursement of expenses filed by professionals retained.  The
Debtors and the Committee concur and join in the request of the
U.S. Trustee that the Court appoint an independent fee examiner.

The independent fee examiner will review and asses all
applications filed by retained professionals, and the fees and
reimbursement of expenses for which allowance is sought pursuant
to the applications.  The independent examiner is further
authorized to, among other things:

      a. file comments on the public docket of the Court regarding
         any application by a retained professional;

      b. communicate its concerns regarding any application to the
         retained professionals to whom the application pertains,
         and request further information as appropriate;

      c. establish procedures for the resolution of disputes with
         retained professionals; and

      d. file and litigate objections to the allowance of any
         application.

The independent fee examiner and any professionals retained by the
independent fee examiner will be entitled to compensation from the
estate for their fees and expenses.  Requests for compensation
will be made by application to the Court and will be allowed
according to the same standards and procedures as are applicable
to retained professionals.

                       About EWGS Intermediary

EWGS Intermediary and Edwin Watts Golf Shops, which operate as an
integrated, multi-channel retailer, offering brand name golf
equipment, apparel and accessories, filed for Chapter 11
protection on Nov. 4, 2013 (Bankr. D. Del. Lead Case No.
13-12876).  They are represented by Domenic E. Pacitti, Esq., and
Michael W. Yurkewicz, Esq., at Klehr Harrison Harvey Branzburg
LLP, in Wilmington, Delaware.  The Debtors tapped Bayshore
Partners LLC as their investment banker, FTI Consulting, LLC, as
their financial advisors, and Epiq Bankruptcy Solutions, LLC, as
claims and noticing agent.

PNC Bank, National Association, the DIP Agent, is represented by
Regina Stango Kelbon, Esq., at Blank Rome LLP, in Wilmington,
Delaware.

Lawrence C. Gottlieb, Esq., Jay R. Indyke, Esq., Brent Weisenberg,
Esq., at Cooley LLP, serve as lead counsel to the Official
Committee of Unsecured Creditors.  Michael J. Merchant, Esq.,
Christopher M. Samis, Esq., and William A. Romanowies, Esq., at
Richards, Layton & Finger, P.A. serve as Delaware counsel.  The
Committee hired PricewaterhouseCoopers LLP as its financial
adviser.

The Debtors said total assets are greater than $100 million.  In
its schedules, EWGS Intermediary disclosed $0 in assets and
$77,801,784 in total liabilities.

Hilco Merchant Resources, a unit of Hilco Global, on Dec. 5
disclosed that it has completed a $40 million deal to purchase all
the assets of golf retail brand Edwin Watts, in partnership with
GWNE, Inc., an affiliate of Worldwide Golf Shops.  The transaction
was approved by the bankruptcy court and closed on Dec. 5.


EXPERT GLOBAL: Moody's Lowers CFR to B3 & Alters Outlook to Neg.
----------------------------------------------------------------
Moody's has downgraded Expert Global Solutions's Corporate Family
Rating ("CFR") and Probability of Default both by one notch, to B3
and B3-PD, and changed the outlook to negative, from stable.
Moody's has also downgraded EGS's first lien debt to B1 (LGD-2,
28%), from Ba3; and its second lien debt to Caa1 (LGD-5, 74%),
from B3.

Ratings Rationale

Operational weakness in the accounts receivable management ("ARM")
segment has been occurring in recent years as a result of the
credit contraction, with volumes of delinquent accounts receivable
falling off as EGS's credit card customers have implemented more
stringent credit standards, resulting in lower balances and
higher-quality accounts receivable. At the same time, while ARM
revenues have weakened over the past year and have been partly
offset by an improving, albeit lower-margin and somewhat volatile
customer relationship segment, EGS's operating expenses (as a
percentage of revenue) have risen due to organizational
investments, driving a decline in EBITDA in 2013 and what Moody's
expects will be continued challenges to profitability in 2014.

The combination of declining EBITDA and rising absolute levels of
debt (due to revolver drawdowns for integration, M&A, and
substantial legal fees) will push EGS's debt-to-EBITDA leverage to
levels more in line with a B3 ratings category. As a result,
Moody's believes EGS will be unable to comply with the senior
secured debt's leverage and interest coverage covenants, both of
which tighten as of March 31st. Moody's also believes free cash
flow will be negative in 2014, forcing the company to make
significant additional drawdowns on its revolver, straining EGS's
liquidity.

Our negative outlook reflects uncertainty over the success and the
scope of an amendment. If liquidity can be maintained, if both of
EGS's segments can demonstrate stabilization, and if an amendment
grants sufficient temporal leeway for the leverage trend to
reverse, Moody's could change the outlook to stable.

With roughly $1.40 billion in 2013 net revenues, EGS is a
portfolio company of One Equity Partners ("OEP"). APAC Customer
Services, Inc. ("APAC"), also a provider of customer care
solutions, was merged with EGS's ARM segment in October 2011.

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

Downgrades:

Issuer: Expert Global Solutions, Inc.

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

Corporate Family Rating, Downgraded to B3 from B2

First Lien Term Loan Facility Apr 3, 2018, Downgraded to B1 from
Ba3, LGD2, 28 % from a range of LGD2, 29 %

First Lien Revolving Credit Facility Apr 3, 2017, Downgraded to
B1 from Ba3, LGD2, 28 % from a range of LGD2, 29 %

Second Lien Term Loan Facility Sep 13, 2018, Downgraded to Caa1
from B3

Outlook Actions:

Issuer: Expert Global Solutions, Inc.

Outlook, Changed To Negative From Stable


FANNIE MAE: Files Form 10-K, Earns $84 Billion in 2013
------------------------------------------------------
Fannie Mae filed with the U.S. Securities and Exchange Commission
its annual report on Form 10-K disclosing net income of $83.98
billion on $117.54 billion of total interest income for the year
ended Dec. 31, 2013, as compared with net income of $17.22 billion
on $129.19 billion of total interest income for the year ended
Dec. 31, 2012.

As of Dec. 31, 2013, Fannie Mae had $3.27 trillion in total
assets, $3.26 trillion in total liabilities and $9.59 billion in
total equity.

Fannie Mae said it will pay Treasury $7.2 billion in March 2014 as
a dividend on the senior preferred stock, marking the first time
in which the company's cumulative dividend payments to Treasury
will exceed its total draws.  Under the senior preferred stock
purchase agreement, the payment of dividends does not offset prior
draws.

Fannie Mae's strong 2013 pre-tax results were driven by continued
stable revenues, credit-related income, and fair value gains.
Credit-related income was positively affected by an increase in
home prices, a decline in serious delinquency rates, and updated
assumptions and data used to estimate the company's allowance for
loan losses in 2013.

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

                         http://is.gd/ivLCTg

                          About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9 percent of its
common stock, and Treasury has made a commitment under a senior
preferred stock purchase agreement to provide Fannie with funds
under specified conditions to maintain a positive net worth.

                          Conservatorship

Fannie Mae has operated under the conservatorship of the Federal
Housing Finance Agency since Sept. 6, 2008.  Fannie Mae has not
received funds from Treasury since the first quarter of 2012.  The
funding the company has received under the senior preferred stock
purchase agreement with the U.S. Treasury has provided the company
with the capital and liquidity needed to maintain its ability to
fulfill its mission of providing liquidity and support to the
nation's housing finance markets and to avoid a trigger of
mandatory receivership under the Federal Housing Finance
Regulatory Reform Act of 2008.  For periods through March 31,
2013, Fannie Mae has requested cumulative draws totaling $116.1
billion.  Under the senior preferred stock purchase agreement, the
payment of dividends cannot be used to offset prior Treasury
draws.  Accordingly, while Fannie Mae has paid $35.6 billion in
dividends to Treasury through March 31, 2013, Treasury still
maintains a liquidation preference of $117.1 billion on the
company's senior preferred stock.

In August 2012, the terms governing the company's dividend
obligations on the senior preferred stock were amended.  The
amended senior preferred stock purchase agreement does not allow
the company to build a capital reserve.  Beginning in 2013, the
required senior preferred stock dividends each quarter equal the
amount, if any, by which the company's net worth as of the end of
the preceding quarter exceeds an applicable capital reserve
amount.  The applicable capital reserve amount is $3.0 billion for
each quarter of 2013 and will be reduced by $600 million annually
until it reaches zero in 2018.

The amount of remaining funding available to Fannie Mae under the
senior preferred stock purchase agreement with Treasury is
currently $117.6 billion.  Fannie Mae is not permitted to redeem
the senior preferred stock prior to the termination of Treasury's
funding commitment under the senior preferred stock purchase
agreement.


FREEDOM INDUSTRIES: Babst Calland Okayed as Environmental Counsel
-----------------------------------------------------------------
The Hon. Ronald G. Pearson of the U.S. Bankruptcy Court for the
Southern District of West Virginia has authorized Freedom
Industries, Inc., to employ Babst, Calland, Clements & Zomnir,
P.C., as special environmental counsel.

The firm is familiar with the Debtor's environmental matters and
the legal issue that may arise from them.

Kevin J. Garber, a partner at Babst Calland, told the Court that
the firm's hourly rates will vary with the experience and
seniority of the individuals assigned.  The firm's hourly rates
for the individuals expected to participate in the engagement
range from $100 to $495.

Mr. Garber assured the Court that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the
bankruptcy Code.

The firm will be compensated in accordance with the procedures set
forth in Section 330 and 331 of the Bankruptcy Code, the
applicable Bankruptcy Rules, the Local Rules, the Fee Guidelines
promulgated by the Executive Office of the U.S. Trustee and such
procedures as may be fixed by order of the Court.

                    About Freedom Industries

Freedom Industries Inc., is engaged principally in the business of
producing specialty chemicals for the mining, steel and cement
industries.  The Debtor operates two production facilities located
in (a) Nitro, West Virginia; and (b) Charleston, West Virginia.

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
petition was signed by Gary Southern, president.

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.

On Dec. 31, 2013, four companies merged under the umbrella of
Freedom Industries: Freedom Industries Inc., Etowah River Terminal
LLC, Poca Blending LLC and Crete Technologies LLC.

As reported in the Troubled Company Reporter on Feb. 20, 2014,
Kate White, writing for The Charleston Gazette, reported that the
Debtor disclosed $16 million in assets and $6 million in
liabilities when it filed for bankruptcy.

On Feb. 5, 2014, the U.S. Trustee appointed an official committee
of unsecured creditors.


FREEDOM INDUSTRIES: Pietragallo Okayed as Litigation Counsel
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of West
Virginia authorized Freedom Industries, Inc., to employ
Pietragallo Gordon Alfano Bosick & Raspanti, LLP as special
litigation counsel.

Paul K. Vey, Esq., a partner of Pietragallo, assured the Court
that the firm does not hold any interest adverse to the Debtor's
estate.

The firm will be compensated in accordance with the procedures set
forth in Section 330 and 331 of the Bankruptcy Code, the
applicable Bankruptcy Rules, the Local Rules, the Fee Guidelines
promulgated by the Executive Office of the U.S. Trustee and such
procedures as may be fixed by order of the Court.

                    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 petition was signed by Gary Southern,
president.

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.

On Dec. 31, 2013, four companies merged under the umbrella of
Freedom Industries: Freedom Industries Inc., Etowah River Terminal
LLC, Poca Blending LLC and Crete Technologies LLC.

As reported in the Troubled Company Reporter on Feb. 20, 2014,
Kate White, writing for The Charleston Gazette, reported that the
Debtor disclosed $16 million in assets and $6 million in
liabilities when it filed for bankruptcy.

On Feb. 5, 2014, the U.S. Trustee appointed an official committee
of unsecured creditors.


FREEDOM INDUSTRIES: Can Employ Experts for Site Remediation
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of West
Virginia authorized Freedom Industries Inc., to:

     -- employ these experts -- James K. Merrill, PE;
        Adil H. Khan, PE; and Edward M. Beck, PE -- without
        further Court order; and

     -- pay certain obligations pursuant to the Debtor's
        insurance policies.

AIG Specialty Insurance Company is authorized to pay the
fees/costs of the AMEC experts.

As reported in the Troubled Company Reporter on Feb. 24, 2014, the
Company would like to hire experts and consultants to assist in
remediation of the site, help preserve evidence, and help in the
defense against lawsuit allegations.

                    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 petition was signed by Gary Southern,
president.

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.

On Dec. 31, 2013, four companies merged under the umbrella of
Freedom Industries: Freedom Industries Inc., Etowah River Terminal
LLC, Poca Blending LLC and Crete Technologies LLC.

As reported in the Troubled Company Reporter on Feb. 20, 2014,
Kate White, writing for The Charleston Gazette, reported that the
Debtor disclosed $16 million in assets and $6 million in
liabilities when it filed for bankruptcy.

On Feb. 5, 2014, the U.S. Trustee appointed an official committee
of unsecured creditors.


GASCO ENERGY: Unit Amends Development Agreement with Wapiti
-----------------------------------------------------------
Gasco Production Company, a wholly owned subsidiary of Gasco
Energy, Inc., and Wapiti Oil & Gas II, L.L.C., executed an
Amendment No. 1 to the Development Agreement dated March 22, 2012.
Pursuant to the Amendment, the following changes, among others,
were made to the Development Agreement:

  1. The drilling program was revised to consist of drilling the
     15 gas wells set out in the Amendment but does allow either
     Gasco or Wapiti to propose additional oil wells during the
     term of the drilling program pursuant to the joint operating
     agreement, which oil wells would be funded, subject to
     standard elections to participate, on an equal basis.

  2. Gasco will pay $3.75 million of its $18.75 million share of
     the drilling program, which is 50 percent of the total $37.5
     million cost of the drilling program.  Wapiti will fund the
     remaining $15 million of Gasco's obligation as consideration
     for Wapiti's purchase of non-producing working interests from
     Gasco in March of 2012.

  3. From the end of the drilling program until payout, Gasco will
     bear 22.5 percent of the drilling, completion and other
     operating costs of the wells drilled pursuant to the
     Development Agreement.

  4. For each well drilled pursuant to the Development Agreement
     until payout, Gasco will receive  22.5 percent of the
     revenues from production from each well attributable to the
     working interests owned by Gasco and Wapiti (other than any
     interests acquired after the execution of the Development
     Agreement).

  5. Wapiti will no longer have to provide a letter of credit to
     support its obligations under the Development Agreement.

  6. Wapiti's obligation to drill two deep gas wells was
     eliminated.

The Amendment No. 1 to Development Agreement dated as of Feb. 12,
2014, by and between Gasco Production Company and Wapiti Oil & Gas
II, L.L.C, is available for free at http://is.gd/hkl7Tn

                         About Gasco Energy

Denver-based Gasco Energy, Inc. -- http://www.gascoenergy.com/--
is a natural gas and petroleum exploitation, development and
production company engaged in locating and developing hydrocarbon
resources, primarily in the Rocky Mountain region and in
California's San Joaquin Basin.  Gasco's principal business is the
acquisition of leasehold interests in petroleum and natural gas
rights, either directly or indirectly, and the exploitation and
development of properties subject to these leases.  Gasco focuses
its drilling efforts in the Riverbend Project located in the Uinta
Basin of northeastern Utah, targeting the oil-bearing Green River
Formation and the natural gas-prone Wasatch, Mesaverde, Blackhawk,
Mancos, Dakota and Morrison formations.

In its auditors' report on the consolidated financial statements
for the year ended Dec. 31, 2012, KPMG LLP, in Denver, Colorado,
expressed substantial doubt about Gasco Energy's ability to
continue as a going concern.  The independent auditors noted that
the Company has suffered recurring losses and negative cash flows
from operations.

The Company reported a net loss of $22.2 million on $8.9 million
of revenues in 2012, compared with a net loss of $7.3 million on
$18.3 million of revenues in 2011.

The Company's balance sheet at Sept. 30, 2013, showed $51.27
million in total assets, $41.24 million in total liabilities and
$10.03 million in stockholders' equity.

                        Bankruptcy Warning

"If the Company is unable to generate sufficient operating cash
flows or secure additional capital before February 2014, it will
not have adequate liquidity to fund its operations and meet its
obligations (including its debt payment obligations), the Company
will not be able to continue as a going concern, and could
potentially be forced to seek relief through a filing under
Chapter 11 of the U.S. Bankruptcy Code," the Company said in the
quarterly report for the period ended Sept. 30, 2013.


GENCO SHIPPING: Said to File for Chapter 11 by Month's End
----------------------------------------------------------
Josh Kosman, writing for The New York Post, reported that Genco
Shipping & Trading will file for Chapter 11 bankruptcy protection
before the end of the month, when a roughly $50 million principal
payment is due, according to sources.  "There is no chance it
doesn't file," said a source close to the situation.

Genco Shipping is owned by New York shipping magnate Peter
Georgiopoulos, and operates a fleet of 53 tankers that typically
carry coal, iron ore, grain and soy beans.

Shares of Genco, which traded as high as $80 in 2008, plunged
almost 28 percent to $1.24 Thursday on news of the imminent
bankruptcy, first reported on nypost.com, according to Mr. Kosman.

According to The Post, Genco made a $3.1 million debt payment late
Thursday to stay in compliance with its lenders while it tries to
work out a prepackaged bankruptcy deal.  That source said Mr.
Georgiopoulos has been trying to hammer out a deal with debt
holder Centerbridge Partners in which he would cede control of the
company but keep running the business.

The Post said Genco has $1.1 billion of bank debt and owes
bondholders $125 million.  Its debt is roughly equal to the value
of its fleet, which would fetch an estimated $1.2 billion in a
sale, according to VesselsValue.

Mr. Georgiopoulos also owned General Maritime, which sought
bankruptcy protection.

The Deal, citing its own sources, reported in February that Genco
is working with a group of its bondholders toward negotiating a
prepackaged bankruptcy filing.  The Deal said the Company is being
advised by financial advisers at Blackstone Advisory Partners LP
and legal counsel at Kramer Levin Naftalis & Frankel LLP on its
restructuring.  The Deal related that Kenneth H. Eckstein, Adam C.
Rogoff, Thomas E. Molner, Stephen D. Zide and Randal D. Murdock at
Kramer Levin are advising the company.

The Deal's sources also said bondholders have banded together and
include Fidelity Management & Research Co., Advantage Capital
Management and hedge fund Kayne Anderson Capital Advisors LP.  The
bondholder group's legal counsel is Akin Gump Strauss Hauer & Feld
LLP and Jeffrey Pribor and Richard Morgner at Jefferies LLC are
providing financial advice, sources said.  Dennis F. Dunne at
Milbank, Tweed, Hadley & McCloy LLP is advising the bank lenders,
the sources said.


GENIUS BRANDS: Erick Richardson Stake at 5.5% as of Jan. 10
-----------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission on Feb. 19, 2014, Erick Richardson disclosed that he
beneficially owned 33,814,559 shares of common stock of Genius
Brands International, Inc., representing 5.54 percent based on
609,969,695 shares of common stock outstanding as of Jan. 10,
2014.  A copy of the regulatory filing is available for free at:

                        http://is.gd/8dFgUB

                         About Genius Brands

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

Genius Brands incurred a net loss of $2.06 million in 2012
following a net loss of $1.37 million in 2011.  As of Sept. 30,
2013, the Company had $1.55 million in total assets, $4.96 million
in total liabilities and a $3.41 million total stockholders'
deficit.


GGW BRANDS: Units Should Stay In LA Office, Trustee Says
--------------------------------------------------------
Law360 reported that the trustee for the producers of the "Girls
Gone Wild" video series' Chapter 11 bankruptcy case asked a
California federal judge to stave off a tenant's attempts to evict
the company units from their Los Angeles office, saying it
violated the terms of a lease agreement that was likely destroyed
by GGW founder Joe Francis.

According to the report, in his filing, Trustee R. Todd Neilson
said that Perfect Science Labs LLC entered an agreement with one
of the video production company's units, GGW Direct LLC.

                         About GGW Brands

Santa Monica, California-based GGW Brands, LLC, the company behind
the "Gils Gone Wild" video, filed a Chapter 11 petition (Bankr.
C.D. Cal. Case No. 13-15130) on Feb. 27, 2013.  Judge Sandra R.
Klein oversees the case.  The company is represented by the Law
Offices of Robert M. Yaspan.  The company disclosed $0 to $50,000
in estimated assets and $10 million to $50 million in estimated
liabilities in its petition.

Affiliates GGW Events LLC, GGW Direct LLC and GGW Magazine LLC
also sought Chapter 11 protection.

In April 2013, R. Todd Neilson, an ex-FBI agent, was appointed as
Chapter 11 Trustee to take over the companies.  Mr. Neilson has
investigated failed solar-power company Solyndra and was involved
in the Mike Tyson and Death Row Records bankruptcy cases.

GGW Marketing, LLC, GGW Brands' affiliate, filed a voluntary
Chapter 11 petition on May 22, 2013, before the United States
Bankruptcy Court Central District Of California (Los Angeles).
The case is assigned Case No.: 13-23452.  Martin R. Barash, Esq.,
and Matthew Heyn, Esq., at Klee, Tuchin, Bogdanoff and Stern, LLP,
in Los Angeles, California, represent GGW Marketing.


GOLDKING HOLDINGS: Auction of Gas Assets Pushed Back to April 1
---------------------------------------------------------------
The Bankruptcy Court in Houston, Texas, has postponed the
deadlines related to the auction and sale of substantially all of
the oil and gas properties of Goldking Resources, LLC, Goldking
Onshore Operating, LLC, and Goldking Holdings, LLC:

     * The deadline to submit bids is moved from March 5, 2014 at
       5:00 p.m. (CST) to March 27, 2014 at 5:00 p.m. (CST);

     * The Auction is moved from March 13, 2014 at 10:00 a.m.
       (CST) to April 1, 2014 at 10:00 a.m. (CST);

     * The deadline to file a Sale Objection is moved from
       March 14, 2014 at 4:00 p.m. (CST) to April 3, 2014 at 4:00
       p.m. (CST);

     * The Sale Hearing is moved from March 17, 2014 at 2:00 p.m.
       (CST) to April 7, 2014 at 2:00 p.m. (CST); and

     * The so-called bid requirement referenced in the Bidding
       Procedures is revised from April 3, 2014 to 20 days after
       the Sale Hearing.

In seeking an extension of the auction and sale dates, the Debtors
explained that the sales and marketing process thus far has not
resulted in bids of sufficient number and amount to result, in the
Debtors'  business judgment, in a robust auction and sale that
will enable payment of all creditor claims, based on the current
situation.  With the consent of the bidders tendering actual bids,
the Debtors have determined that brief postponement of the auction
and sale hearing would benefit the process, and provide a means to
again seek to maximize the value of the oil and gas properties
that the Debtors own and operate.

The Debtors also said they are working with their debtor in
possession lender, Wayzata Opportunities Fund II, LP, as successor
administrative agent, to Bank of America, N.A. and as the Lender,
under the Existing Credit Agreement, and supermajority equity
owner, to address the developments surrounding the sale and
seeking support for the postponement, the efforts to work with the
parties, and to otherwise obtain a positive result for all
concerned.

                           *     *     *

On Feb. 17, 2014, the Debtors filed its Notice of Possible
Assumption and Assignment of Certain Executory Contracts and
Unexpired Leases in Connection with Sale.  Among others, the
Debtors identified a Joint Operating Agreement with White Oak
Operating Co., LLC and White Oak Energy V, LLC, with respect to
the Nine Mile Point in Texas, to be assumed and assigned.  The
Debtors also proposed the cure amount of $0 for White Oak.

White Oak objects to the assumption and assignment of its contract
and the cure amount stated by the Debtors without providing
adequate assurance of future performance on the Agreement.

Counsel to White Oak Operating Co., LLC and White Oak Energy V,
LLC are:

     James Donnell, Esq.
     WINSTON & STRAWN LLP
     1111 Louisiana, 25th Floor
     Houston, TX 77002-5242
     Tel: 713-651-2600
     Fax: 713-651-2700

          - and -

     Nathan P. Lebioda, Esq.
     WINSTON & STRAWN LLP
     100 North Tryon Street
     Charlotte, NC 28202-1078
     Tel: 704-350-7700
     Fax: 704-350-7800
     E-mail: nlebioda@winston.com

                       About Goldking Holdings

Goldking Holdings LLC, an oil-and-gas exploration company based in
Houston, sought bankruptcy protection (Bankr. D. Del. Case No.
13-12820) in Wilmington, Delaware, on Oct. 30, 2013, from
creditors with plans to sell virtually all its assets.  Goldking
Onshore Operating, LLC, and Goldking Resources, LLC, also sought
creditor protection.

The cases were initially assigned to Delaware Judge Brendan
Linehan Shannon.  On Nov. 20, 2013, Judge Shannon granted the
request of Goldking's former CEO Leonard C. Tallerine Jr. and
Goldking Capital LT Corp., to move the Chapter 11 case to Houston,
Texas (Bankr. S.D. Tex. Case No. 13-37200).  Mr. Tallerine owns a
nearly 6% stake in the company through an entity called Goldking
LT Capital Corp.

The Debtors are represented by Scott W. Everett, Esq., and
Christopher L. Castillo, Esq., at Haynes and Boone, LLP.  Edmon L.
Morton, Esq., and Robert F. Poppiti, Jr., Esq., at Young, Conaway,
Stargatt & Taylor, LLP, in Wilmington, Delaware, serve as the
Debtors' co-counsel.  The Debtors' notice, claims, solicitation
and balloting agent is Epiq Bankruptcy Solutions, LLC.

Lantana Oil & Gas Partners was initially hired as the Debtors'
financial advisors.  In December 2013, the Debtors won Court
approval to employ E-Spectrum Advisors LLC, led by its CEO Coy
Gallatin, as asset sale advisor.

Alvarez & Marsal Global Forensic and Dispute Services, LLC, has
been engaged to provide computer forensics and related services.

Goldking Holdings disclosed $16,170 in assets and $11,484,881 in
liabilities as of the Chapter 11 filing.

Judy A. Robbins, United States Trustee for the Southern District
of Texas, appointed a three-member official committee of unsecured
creditors.  Brinkman Portillo Ronk, APC, serves as counsel to the
Committee, and Okin & Adams LLP as local counsel.


GOLDKING HOLDINGS: Wants Scope of Claro Group's Work Limited
------------------------------------------------------------
Goldking Holdings, LLC, Goldking Onshore Operating, LLC, and
Goldking Resources, LLC filed a conditional objection to the
request of the Official Committee of Unsecured Creditors to retain
The Claro Group, LLC as financial advisor.

In the Application, the UCC states that it proposes to engage the
Claro Group to perform services which include, among other things:

     a. Reviewing and analyzing the Debtors' process for
        marketing and selling any or all of its assets;

     b. Assisting with identifying and implementing potential cost
        containment opportunities;

     c. Assisting with identifying and implementing asset
        redeployment opportunities;

     d. Analyzing assumption and rejection issues regarding
        executory contracts and leases; and

     e. Reviewing and analyzing the Debtors' proposed business
        plans and the business and financial condition of the
        Debtors generally.

The Debtors object with respect to Claro Group's performance of
services that may exceed the statutory authority under which the
UCC operates.  The Debtors contend there is no need for the UCC to
engage Claro Group to perform specific services already reserved
to the Debtors' business judgment and particularly duties and
services being provided by the Debtors' previously retained and
independent asset sale advisor, E. Spectrum Advisors.  While the
Debtors and E. Spectrum have sought to keep the UCC and the Claro
Group in particular informed of pending business matters,
including the status of the sale process, there is no need for
duplication of efforts, particularly in a case of this size.

The Debtors also noted that they are operating under and must
adhere to a limited budget in connection with the incurrence in
the cases of administrative professional fees.  There is a Final
Order approving a post-petition debtor in possession loan
agreement providing for the financing of operations in this case,
and to the extent the Budget specifies an amount allocable to
professionals for the UCC the Debtors want to ensure the UCC does
not remain uninformed regarding these limitations and the Debtors'
inability to deviate from the Budget. Certainly, the Debtors will
encourage further discussion with the UCC and the lender to
address these issues, but because the Budget is now "so ordered"
it is important that the Budget amounts not be exceeded, if only
because there is no authority to pay such amounts.

The Debtors said they remain eager to obtain a favorable result in
the cases for all creditor constituencies, and have and will
continue to work toward that end result.

The Debtors request that the Court limit its approval of the
Application and the engagement of the Claro Group to the
performance of only those tasks which would be necessary to
address the UCC's responsibilities, and not services that either
fall outside of that or which are duplicative of professionals
already retained in the cases.  Furthermore, the Debtors request
that the engagement of the Proposed Financial Advisor be made
without prejudice to the Debtors' overarching requirement to stay
within the requirements of the Final Order approving the post-
petition financing and the current Court-approved postpetition
financing budget.

The Debtors also note that the UCC's current constituency may
remain open to further review and possibly reconstitution or
disbandment, on account of further proceedings before the Court to
be conducted on March 24, 2014, and due to the fact that the
current members of the UCC may either (i) lack any allowed claim
in the cases or (ii) comprise mechanics and materialman's lien
claims under applicable Texas and Louisiana law, in a manner that
may impact their role and appointment.  Pending these matters
being further addressed, it will be important to reserve any
retention arrangements to enable the Court to address these
matters further.

The Committee filed papers on March 4 seeking to employ Claro
Group as financial advisor.  In addition to the tasks enumerated
in the Debtors' objection, the Committee will look to Claro for:

     -- assistance in evaluating reorganization strategy and
        alternatives available to the creditors, including any
        asset sale transactions;

     -- review and critique of the Debtors' financial projections
        and assumptions;

     -- preparation of enterprise, asset and liquidation
        valuations;

     -- assistance in preparing documents necessary for
        confirmation;

     -- advice and assistance to the Committee in negotiations
        and meetings with the Debtors and the bank lenders;

     -- advice and assistance on the tax consequences of proposed
        plans of reorganization;

     -- assistance with the claims resolution procedures,
        including, but not limited to, analyses of creditors'
        claims by type and entity and maintenance of a claims
        database;

     -- litigation consulting services and expert witness
        testimony regarding confirmation issues, avoidance
        actions or other matters; and

     -- other functions as requested by the Commitete or its
        counsel.

The Committee believes the firm possesse extensive knowledge and
expertise in the areas relevant to the case, and that the firm is
well qualified to provide specialized advisory services to the
Committee.

Douglas J. Brickley, a managing director at Claro, is the
Committee's primary contact.  He attests that his firm is a
"disinterested person" as that term is defined in Sec. 101(14) of
the Bankruptcy Code.  He said the firm has not received any
prepetition retainer from the Debtors or the Committee.

The firm will charge for consultants' fees, backup support hourly
fees, computer charges and reimbursable costs and expenses.
Consultants' fees range from $90 to $550 per hour.  Mr. Brickley's
rate is $495 per hour.  The firm's standard hourly rates are:

     Managing directors              $450 - $550 per hour
     Directors                       $325 - $440 per hour
     Managers/Sr. Managers/
        Sr. Advisors                 $250 - $400 per hour
     Analysts/Consultants/
        Sr. Consultants              $150 - $295 per hour
     Admin                            $90 - $135 per hour

                       About Goldking Holdings

Goldking Holdings LLC, an oil-and-gas exploration company based in
Houston, sought bankruptcy protection (Bankr. D. Del. Case No.
13-12820) in Wilmington, Delaware, on Oct. 30, 2013, from
creditors with plans to sell virtually all its assets.  Goldking
Onshore Operating, LLC, and Goldking Resources, LLC, also sought
creditor protection.

The cases were initially assigned to Delaware Judge Brendan
Linehan Shannon.  On Nov. 20, 2013, Judge Shannon granted the
request of Goldking's former CEO Leonard C. Tallerine Jr. and
Goldking Capital LT Corp., to move the Chapter 11 case to Houston,
Texas (Bankr. S.D. Tex. Case No. 13-37200).  Mr. Tallerine owns a
nearly 6% stake in the company through an entity called Goldking
LT Capital Corp.

The Debtors are represented by Scott W. Everett, Esq., and
Christopher L. Castillo, Esq., at Haynes and Boone, LLP.  Edmon L.
Morton, Esq., and Robert F. Poppiti, Jr., Esq., at Young, Conaway,
Stargatt & Taylor, LLP, in Wilmington, Delaware, serve as the
Debtors' co-counsel.  The Debtors' notice, claims, solicitation
and balloting agent is Epiq Bankruptcy Solutions, LLC.

Lantana Oil & Gas Partners was initially hired as the Debtors'
financial advisors.  In December 2013, the Debtors won Court
approval to employ E-Spectrum Advisors LLC, led by its CEO Coy
Gallatin, as asset sale advisor.

Alvarez & Marsal Global Forensic and Dispute Services, LLC, has
been engaged to provide computer forensics and related services.

Goldking Holdings disclosed $16,170 in assets and $11,484,881 in
liabilities as of the Chapter 11 filing.

Judy A. Robbins, United States Trustee for the Southern District
of Texas, appointed a three-member official committee of unsecured
creditors.  Brinkman Portillo Ronk, APC, serves as counsel to the
Committee, and Okin & Adams LLP as local counsel.


GREEN FIELD ENERGY: Gordon Brothers Okayed to Liquidate Assets
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware on
March 14, 2014, authorized Green Field Energy Services, Inc., et
al., to sell certain assets; and enter into and perform their
obligations under an agency agreement with Gordon Brothers
Commercial & Industrial LLC.

Gordon Brothers will be selling the Debtors' equipment, inventory
and other tangible assets.

DIP Lenders GB Credit Partners, LLC and Icon Agent, LLC filed
objections to the sale.  The DIP Lenders contend they are entitled
to receive a $750,000 make whole fee in connection with the
repayment of the DIP Loan from the initial $35,000,000 payment of
the $50,000,000 guaranteed amount to be received from Gordon
Brothers pursuant to the Agency Agreement.  The DIP Lenders sought
to have the Court deny the Debtors the authority to receive the
payment and use it to repay the DIP Loan unless the make whole fee
is paid.

The Debtors and the Official Committee of Unsecured Creditors
filed papers in support of the sale.

In their reply dated March 11 to the limited objections of GB
Credit and Icon Agent, the Debtors said the GBCI Agency Agreement
contemplates that GBCI will acquire the right to sell the assets
of the Debtors in exchange for a share of the proceeds, a portion
of which is guaranteed and paid upfront by GBCI.  The Debtors
noted that, among other things:

   a. the GBCI agency Agreement is not a refinancing in form or
      substance; and

   b. the GBCI Agency Agreement is a "permitted disposition"
      under the DIP Credit Agreement.

The Committee filed a joinder to the Debtors' response, stating
that the objections must be overruled because the repayment of the
DIP Facility out of the initial installment of the guaranty amount
does not trigger the make whole fee.  The fee is due only if the
DIP Facility is refinanced with loans from a source other than the
DIP Lenders or repaid.

The Debtors also filed their omnibus response to objections lodged
by Ford Motor Credit Company LLC, and Tucson Embedded Systems,
Inc.  The Debtors said Ford's objection is resolved by amending
the sale order to provide that the Debtors will escrow the amount
of the Ford Claim from the sale proceeds received from GBCI or the
Unpaid Amount.  Meanwhile, Tucson Embedded Systems's objection is
without merit because the Debtors may sell the asset without
violating the parties' non-disclosure agreement, and presumably
without even disclosing the confidential information.

The Debtors also said the objections of Nations Fund I, Inc.,
the United States, on behalf of the Department of Homeland
Security, the County of Harrison, Texas, and Harrison Central
Appraisal District, S.P.M. Flow Control, Inc., and Dallas County,
Harris County, Irving ISD and Parker CAD, have been consensually
resolved.

The Court's Sale Order provides that a portion of the Initial
Guaranty Payment in an amount equal to the outstanding obligations
under the DIP Facility -- which, for the avoidance of doubt, will
not include any "make whole fee" as none is due and owing on
account of the agency agreement -- will be paid directly by Gordon
Brothers to the DIP agents.

The Order also provides Gordon Brothers, on behalf of the Debtors,
is authorized to sell 63 2013 Peterbilt Model 388 tractors that
Nations Fund leased to the Debtors.  GB will remit the first $5.65
million of the sale proceeds to Nations.  To the extent that
Nations' Claim is not paid in full from the sale proceeds, GB will
pay Nations the remaining unpaid amounts on the date the unpaid
balance is due, but no later than April 30, 2014.

With respect to Ford, GB is authorized to sell the leased Ford
vehicles, excluding a 2012 Ford Fusion.  GB wil remit $1,253,657
of the sale proceeds -- after the Nations Claim is paid in full --
to Ford.  Full payment of Ford's Claim must be made by April 30.

In addition, $1,500,000 will be set aside from the sale proceeds
of assets located in Texas as adequate protection for the secured
claims of the Objecting Texas Tax Authorities.

The Order also provides that the completion fee owed by the
Debtors to Carl Marks Advisory Group, the Debtors' investment
banker, will be set aside in a segregated account and paid by the
Debtors to the firm upon approval of the firm's final fee
application.

As reported by The Troubled Company Reporter, the Debtors entered
an agency agreement with GBCI as agent to sell the assets for a
guaranteed $50,000,000.  In addition, the Debtors will receive up
to $67,500,000 from payments of the guaranteed amount and proceeds
from the sale of the assets.

The Debtors said they received a bid from the Ad Hoc Noteholders
for the Debtors' membership interests in Turbine Powered
Technology, free and clear of all liens, claims and encumbrances
thereon.  The purchase price for the GFES TPT Interests will be in
the form of a credit bid in the amount of $17,750,000 in principal
amount of the Senior Secured Notes and will be consummated by a
newly formed entity as buyer.

A copy of the Court's order is available for free at:

     http://bankrupt.com/misc/GREENFIELD_715_482_saleorder.pdf

The Debtors are represented by Michael R. Nestor, Esq., Kara
Hammond Coyle, Esq., and Justin H. Rucki, Esq., at YOUNG CONAWAY
STARGATT & TAYLOR, LLP, in Wilmington, Delaware; and Josef S.
Athanas, Esq., Caroline A. Reckler, Esq., Sarah E. Barr, Esq., and
Matthew L. Warren, Esq., at LATHAM & WATKINS LLP, in Chicago,
Illinois.

ICON Agent and GB are represented by Dennis A. Meloro, Esq., at
GREENBERG TRAURIG, LLP, in Wilmington, Delaware; and David B.
Kurzweil, Esq., at GREENBERG TRAURIG, LLP, in Atlanta, Georgia.

Ford Credit is represented by Robert T. Aulgur, Jr., Esq., and
Kristi J. Doughty, Esq., at WHITTINGTON & AULGUR, in Middletown,
Delaware; and RICHARDO I. KILPATRICK, Esq., and LEONORA K.
BAUGHMAN, Esq., at KILPATRICK & ASSOCIATES, P.C., in Auburn Hills,
Michigan.

                      About Green Field Energy

Green Field Energy Services, Inc., is an independent oilfield
services company that provides a wide range of services to oil and
natural gas drilling and production companies to help develop and
enhance the production of hydrocarbons.  The Company's services
include hydraulic fracturing, cementing, coiled tubing, pressure
pumping, acidizing and other pumping services.

Green Field Energy and two affiliates filed Chapter 11 petitions
in Delaware on Oct. 27, 2013, after defaulting on an $80 million
credit provided by an affiliate of Royal Dutch Shell Plc (Bankr.
D. Del. Case No. 13-bk-12783).

The Debtors are represented by Michael R. Nestor, Esq., and Kara
Hammon Coyle, Esq., at Young Conaway Stargatt & Taylor, LLP, in
Wilmington, Delaware; and Josef S. Athanas, Esq., Caroline A.
Reckler, Esq., Sarah E. Barr, Esq., and Matthew L. Warren, Esq.,
at Latham & Watkins LLP, in Chicago, Illinois.

The Debtors' investment banker is Carl Marks Advisory Group LLC.
Thomas E. Hill, from Alvarez & Marsal North America, LLC, serves
as the Debtors' chief restructuring officer.

In its schedules, Green Field disclosed $306,960,039 in total
assets and $447,199,869 in total liabilities.

Judge Kevin Gross approved the disclosure statement explaining
the Debtors' Plan of Liquidation and scheduled the hearing to
consider confirmation of the Plan for April 23, 2014, at 2:00 p.m.
(Eastern Time).  Objections to the confirmation of the Plan are
due April 15.

Allowed general unsecured claims estimated to total $78,800,000,
will be paid 13% of their full amount, while allowed senior
noteholder claims estimates to total $254,000,000 will be paid 25%
of their asserted amount.

The Liquidation Plan is premised upon a settlement reached by and
among the Debtors, SWEPI, LP, Michel Moreno and Turbine Powered
Technology, LLC, which centers around the contribution of the
MOR/TGS Interests by the Moreno Entities to NewCo in exchange for
certain interests in NewCo and the releases by Debtors and certain
holders of claims.  The Plan is premised upon a waiver of
Deficiency Claim of the Senior Secured Notes Indenture Trustee and
Senior Secured Noteholders.

Roberta A. Deangelis, The U.S. Trustee for Region 3, appointed six
members to the official committee of unsecured creditors in the
Chapter 11 cases of Green Field Energy Services, Inc., et al.

Green Field's bankruptcy is being financed with a $30 million loan
from BG Credit Partners LLC and ICON Capital LLC.

The Bankruptcy Court authorized the United States Trustee for
Region 3 to appoint Steven A. Felsenthal, Esq., as examiner.


HALLWOOD GROUP: Amends Rule 13E-3 Transaction Statement
-------------------------------------------------------
The Hallwood Group Incorporated filed an amendment to its Rule
13E-3 Transaction Statement relating to the Agreement and Plan of
Merger, dated as of June 4, 2013, by and among the Company,
Hallwood Financial Limited, and HFL Merger Corporation, as
amended.

Pursuant to the Merger Agreement, HFL Merger Corporation will be
merged with and into Hallwood Group at the effective time of the
Merger, at which time the separate corporate existence of HFL
Merger Corporation Sub will cease, and the Company will continue
as the surviving company in the Merger and a wholly owned
subsidiary of Hallwood Financial.

At the Effective Time, each share of Common Stock outstanding
immediately prior to the Effective Time and shares outstanding
immediately prior to the Effective Time held by any stockholder
who has neither voted in favor of the Merger nor consented thereto
in writing and who has demanded properly in writing appraisal for
those shares or otherwise properly perfected and not withdrawn or
lost his or her rights of appraisal under the General Corporation
Law of the State of Delaware will be converted into the right to
receive $13.00 in cash, without interest, less a proportionate
deduction for any incentive fee and attorney's fees that may be
awarded by the Delaware Court of Chancery in connection with the
Stipulation of Settlement, filed on Feb. 7, 2014, relating to the
purported class and, in the alternative, derivative action filed
by Gary L. Sample against the Company and other defendants,
asserting, among other things, that the original Merger
Consideration was unfair and did not reflect the true value of the
Company and all of its assets, whereupon all those shares will be
automatically cancelled and will cease to exist, and the holders
of those shares will cease to have any rights with respect thereto
other than the right to receive the Merger Consideration.

The plaintiff and the plaintiff's attorneys in the Sample
Litigation intend to petition the Court for a $15,000 incentive
fee and attorney's fees and expenses not exceeding $310,000,
which, if granted in its entirety, is equivalent to approximately
$0.62 per share.  Therefore, the Company expects that if the
settlement is approved, the Merger Consideration will be at least
$12.38 per share and may be more if the Court does not approve the
full amount requested by the plaintiff and the plaintiff's
attorneys.  In the event that the Court does not approve the
settlement, the parties to the Merger
Agreement have agreed to proceed with the consummation of the
Merger based on the original Merger Consideration of $10.00 per
share, without the $3.00 per share increase to the Merger
Consideration contemplated by the Second Amendment to Agreement
and Plan of Merger, which would involve the solicitation of
stockholder approval at such $10.00 price per share.

A copy of the Schedule 13E-3 is available for free at:

                       http://is.gd/DZ7mEo

                      About Hallwood Group

Dallas, Texas-based The Hallwood Group Incorporated (NYSE MKT:
HWG) operates as a holding company.  The Company operates its
principal business in the textile products industry through its
wholly owned subsidiary, Brookwood Companies Incorporated.

Brookwood is an integrated textile firm that develops and produces
innovative fabrics and related products through specialized
finishing, treating and coating processes.

Prior to October 2009, The Hallwood Group Incorporated held an
investment in Hallwood Energy, L.P. ("Hallwood Energy").  Hallwood
Energy was a privately held independent oil and gas limited
partnership and operated as an upstream energy company engaged in
the acquisition, development, exploration, production, and sale of
hydrocarbons, with a primary focus on natural gas assets.  The
Company accounted for the investment in Hallwood Energy using the
equity method of accounting.  Hallwood Energy filed for bankruptcy
in March 2009.  In connection with the confirmation of Hallwood
Energy's bankruptcy in October 2009, the Company's ownership
interest in Hallwood Energy was extinguished and the Company no
longer accounts for the investment in Hallwood Energy using the
equity method of accounting.

Hallwood Group incurred a net loss of $17.94 million in 2012, as
compared with a net loss of $6.33 million in 2011.

The Company's balance sheet at Sept. 30, 2013, showed
$65.88 million in total assets, $25.75 million in total
liabilities, and stockholders' equity of $40.13 million.

Deloitte & Touche LLP, in Dallas, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that
the Company is dependent on its subsidiary to receive the cash
necessary to fund its ongoing operations and obligations.  It is
uncertain whether the subsidiary will be able to make payment of
dividends to its fund ongoing operations.  These conditions raise
substantial doubt about its ability to continue as a going
concern.


HELIA TEC: Withdraws Bid to Employ Battaglia
--------------------------------------------
The Bankruptcy Court granted Helia Tec Resources, Inc.'s motion to
withdraw the application to employ Richard A. Battaglia as special
counsel.

Pursuant to the Debtor's oral motion, a new application may be
filed and scheduled for the continued hearing on April 16, 2014,
so long as statutory notice is given.  Mr. Battaglia may continue
to represent the Debtor in the ongoing hearing on the motion to
convert filed by HSC Holdings.  The Court makes no determination
at this time regarding Mr. Battaglia's entitlement to compensation
for such representation.

As reported in the Troubled Company Reporter on Feb. 21, 2014,
HSC Holdings Co., Ltd., formerly known as GR&FO Co., Ltd., opposed
the Debtor's bid to employ Mr. Battaglia and Richard A. Battaglia,
P.C.   According to HSC Holdings, (i) Cary Hughes, the Debtor's
president, has no authority to file the bankruptcy case or engage
special counsel on the Debtor's behalf; (ii) conflicts of interest
prohibit the law firm of Richard A. Battaglia from serving as the
Debtor's special counsel; and (iii) it is premature to consider
the application before the motion to convert the case is resolved.

As special counsel, the Debtor needs Mr. Battaglia to:

   a) provide the Debtor legal advice with respect to the
      prosecution of the various legal proceedings;

   b) prepare pleadings and responses to specific legal issues
      presented in this proceeding which may become necessary; and

   c) perform all other legal services for the Debtor as a
      Debtor-in-possession that may become necessary to these
      proceedings.

The hourly rates of the firm's personnel are:

         Mr. Battaglia                     $375
         Law Clerks & Legal Assistants      $75 - $125

To the best of Debtor's knowledge, Richard Battaglia and Richard
A. Battaglia, P.C. represent no interest adverse to the Debtor or
its estate in the matters upon which they have been engaged.

                      About Helia Tec Resources

Helia Tec Resources, Inc. filed a Chapter 11 petition (Bankr. S.
D. Tex. Case No. 13-36251) on Oct. 3, 2013 in Houston, Texas,
represented by Richard L. Fuqua, II, Esq., at Fuqua & Associates,
PC, in Houston, as counsel to the Debtor. The Debtor listed
$16.15 million in assets and $2.24 million in liabilities. The
petition was signed by Cary E. Hughes, president.

Judy A. Robbins, U.S. Trustee for Region 7, was unable to appoint
an official committee of unsecured creditors in the Debtor's case.


HERTZ CORP: To Spin Off Rental Equipment Business
-------------------------------------------------
Michael J. De la Merced, writing for The New York Times' DealBook,
reported that The Hertz Corporation said that it would spin off
its equipment rental corporation, a move that would give the
remaining company net proceeds of $2.5 billion.

According to the report, the separation is planned as a tax-free
spinoff to Hertz shareholders and is expected to close by early
2015.

The rental equipment business has 335 branches in the United
States, Canada, France, Spain, China and Saudi Arabia, as well as
international franchisees, the report related.  The business had
$1.5 billion in annual revenue and rents out a broad range of
equipment, including air compressors and tools, earth-moving
equipment and power generators, forklifts and material handling,
pumps, and trucks and trailers.

The company has been under pressure from activist investors, the
report further related.  Last year, the company adopted a one-year
shareholder rights plan, commonly known as a poison pill, to
thwart an investor from gaining control of the board.

At the time, Hertz reported seeing "unusual and substantial
activity" in its shares, the report said.  A number of hedge funds
have subsequently emerged as investors, including Third Point,
according to securities filings.


IAMGOLD CORP: Moody's Affirms Ba3 CFR & B1 Sr. Sub. Notes Rating
----------------------------------------------------------------
Moody's Investors Service affirmed IAMGOLD Corporation's Ba3
corporate family rating (CFR), Ba3-PD probability of default
rating, B1 senior subordinate notes rating and SGL-2 speculative
grade liquidity rating. The company's ratings outlook was changed
to negative from stable.

Affirmations:

Corporate Family Rating, Affirmed Ba3

Probability of Default Rating, Affirmed Ba3-PD

Speculative Grade Liquidity Rating, Affirmed SGL-2

Senior Subordinate Regular Bond/Debenture Oct 1, 2020,
Affirmed B1

Outlook Actions:

Outlook, Changed To Negative From Stable

Ratings Rationale

"The change in IAMGOLD's outlook reflects our view that the
company's relatively high cash costs could continue to increase
over the next few years as it processes a greater amount of harder
ore at its two largest gold mines", said Darren Kirk, Moody's vice
president and senior credit officer. "As well, execution risks to
ramping up production at its Westwood underground operations in
Canada have persisted longer than we previously expected, and any
further delays would have adverse implications on IAMGOLD's cost
position and business profile", added Kirk.

IAMGOLD's Ba3 CFR is driven by the company's significant exposure
to gold price volatility coupled with the elevated political risk
in the regions where the majority of its cash flows are generated
(mainly Burkina Faso and Suriname). Relatively high cash costs and
negative free cash flow associated with investments to grow and
diversify its narrow production profile also weigh on the rating
while the short reserve lives of its gold mines provide an added
constraint. Favorably, the rating considers the company's good
liquidity, diversity provided by its exposure to niobium
production in a stable mining jurisdiction (Canada) and Moody's
belief that the company's adjusted leverage (Debt/ EBITDA) is
likely to remain below 3.5x through 2014 incorporating a forward
gold price sensitivity of $1,100/oz.

The negative outlook reflects Moody's view that the increase in
ore hardness at the company's Essakane and, particularly, Rosebel
mines will increasingly challenge IAMGOLD's ability to control
costs over the next few years. The outlook also incorporates
ongoing execution risks to ramping up production at Westwood's
underground operations.

The rating could be upgraded if IAMGOLD achieves greater mine
diversity and reduced reliance on countries that have elevated
political/economic risks. IAMGOLD's leverage would also need to be
maintained below 2.5x.

The rating could be downgraded if Moody's expects cost pressures
at the company's owner-operated gold mines to continue beyond
2014, if Moody's expected the company's adjusted debt/EBITDA to be
sustained above 3.5x or should Moody's believe the company's
liquidity position would materially contract.

Headquartered in Toronto, Canada, IAMGOLD, owns gold mines in
Suriname (95%), Burkina Faso (90%) and Canada. The company also
owns approximately 41% of a gold mine in Mali and 100% of a
niobium mine in Canada. The company sold about 928 thousand gold
equivalent ounces in 2013.

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


IGLESIA PUERTA: Second Amended Plan Confirmed
---------------------------------------------
Bankruptcy Judge Ronald B. King on March 6 confirmed the Second
Amended Plan of Reorganization, with modifications, filed by
Iglesia Puerta Del Cielo Inc.

Under the Second Amended Plan, dated Jan. 17, 2014, all assets of
the Debtor will be transferred to and be vested in the Reorganized
Debtor, free and clear of any liens, security interests,
encumbrances, claims or interests.

A hearing to approve the Plan was held Feb. 26.

The Confirmation Order provides that the effective date of the
Plan will be April 21, 2014.

The Order also provides that any secured creditor making a claim
for attorneys' fees or costs, other costs of collectin or for any
kind of interest, penalty, fee or charge must file a claim within
60 days after the effective date.

Any professional person employed by the Debtor must file a
statement providing the detail and basis for his or her claim
within 90 days after the effective date.

Counsel for the Debtor must file an application for allowance and
payment of fees and expenses through the confirmation date within
90 days after the effective date.

The Reorganized Debtor may file any objections to claims on or
before the expiration of the 60th day following the entry of the
confirmation order.

The Court ruled that Objections of Class 3 and Class 4 Creditors
based on bad faith are denied.

The Court also held that the lienholders on the vacant land are
receiving indubitable equivalent of their debt.  Therefore the
Class 3 and Class 4 Creditors' objections based on indubitable
equivalent is denied.  The Class 3 and Class 4 Creditors are given
120 days within which to foreclose liens on the vacant land and
file a deficiency claim.  The Debtor has 30 days to object to the
claim.

The Second Amended Plan was filed by the Debtor after the Jan. 15
Court hearing to approve to disclosure statement explaining the
first amended version of the Plan.  The Second Amended Plan
contained modifications as directed by the Court.

A copy of the confirmed Second Amended Plan is available at no
extra charge at:

   http://bankrupt.com/misc/IGLESIAPUERTA_2ndPlanandOrder.pdf

A modification to the Second Amended Plan was filed Feb. 18 to
revise the treatment of Class 3, 4 and 5 Claims.  These classes
were impaired and entitled to vote on the Plan.

A copy of the confirmed Second Amended Plan modifications is
available at no extra charge at:

   http://bankrupt.com/misc/IGLESIAPUERTA_2ndPlanModification.pdf

With the confirmation of the Plan, the Court on March 12 dismissed
as moot the Debtor's "Emergency Motion to Determine Applicability
of 11 U.S.C. [Sec] 363(c)(2) or Alternatively Emergency Motion for
an Interim and Final Order".

Iglesia Puerta del Cielo, Inc., a domestic non-profit corporation
that provides religious services to third parties, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D.
Tex. Case No. 13-31911) on Nov. 12, 2013.  The case is assigned to
Judge Christopher Mott.  Wiley F. James, III, Esq., at James &
Haugland, P.C., in El Paso, Texas, represents the Debtor.  The
Debtor estimated assets of at least $10 million and liabilities of
at least $1 million.


INDEPENDENCE TAX IV: Posts $113,600 Net Income in Dec. 31 Qtr.
--------------------------------------------------------------
Independence Tax Credit Plus L.P. IV filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing net income of $113,667 on $845,234 of total
revenues for the three months ended Dec. 31, 2013, as compared
with net income of $2.12 million on $843,582 of total revenues for
the same period in 2012.

For the nine months ended Dec. 31, 2013, the Company reported a
net loss of $175,430 on $2.61 million of total revenues as
compared with net income of $4.69 million on $2.59 million of
total revenues for the same period during the prior year.

As of Dec. 31, 2013, the Company had $7.32 million in total
assets, $26.56 million in total liabilities and a $19.23 million
total partners' deficit.

"At December 31, 2013, the Partnership's liabilities exceeded
assets by $19,237,607, and for the nine months ended December 31,
2013, the Partnership incurred a net loss of $(175,430).  These
factors raise substantial doubt about the Partnership's ability 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/d8pquo

New York-based Independence Tax Credit Plus L.P. IV is a limited
partnership which was formed under the laws of the State of
Delaware on Feb, 22, 1995.

On July 6, 1995, the Partnership commenced a public offering of
Beneficial Assignment Certificates representing assignments of
limited partnership interests in the Partnership.  The Partnership
received $45,844,000 of gross proceeds from the Offering from
2,759 investors.  The Offering was terminated on May 22, 1996.

The Partnership's initial business was to invest in other
partnerships owning leveraged apartment complexes that are
eligible for the low-income housing tax credit enacted in the Tax
Reform Act of 1986, some of which may also be eligible for the
historic rehabilitation tax credit.

The Partnership is currently in the process of developing a plan
to dispose of all of its investments.  It is anticipated that this
process will take a number of years.

The Partnership reported a net loss of $967,365 on $4.2 million of
revenues in fiscal 2013, compared with net income of $970,124 on
$4.1 million of revenues in fiscal 2012.


JAMES RIVER COAL: Skips Interest Payment on Convertible Notes
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that James River Coal Co., an operator of coal mines
mostly in central Appalachia, didn't make a $13.3 million interest
payment this week on convertible notes due in March 2018.

The grace period runs out April 14, the report said.

The report recalled that Richmond, Virginia-based James River
filed for Chapter 11 reorganization in April 2003 and emerged from
bankruptcy a little more than one year later.

The $47.3 million in 4.5 percent senior unsecured convertible
notes due 2015 last traded on March 19 for 5 cents on the dollar.
On Jan. 27 they fetched 32.125 cents, the report said, citing
Trace, the bond-price reporting system of the Financial Industry
Regulatory Authority.  The $270 million in 7.875 percent senior
unsecured notes due in 2019 last traded on March 19 for 15.678
cents on the dollar, for a yield of 69.623 percent, the report
further cited Trace.

Bloomberg said the stock dropped 13 percent on March 19 to a
record closing low of 61 cents in New York trading.  In the past
three years, the closing high was $25.14 on April 1, 2011.

                          About James River

Headquartered in Richmond, Virginia, James River Coal Company
(NasdaqGM: JRCC) -- http://www.jamesrivercoal.com/-- mines,
processes and sells bituminous steam and industrial-grade coal
primarily to electric utility companies and industrial customers.
The company's mining operations are managed through six operating
subsidiaries located throughout eastern Kentucky and in southern
Indiana.

For the nine months ended Sept. 30, 2013, the Company reported a
net loss of $14.99 million.  James River reported a net loss of
$138.90 million in 2012, as compared with a net loss of $39.08
million in 2011.  The Company's balance sheet at Sept. 30, 2013,
showed $1.06 billion in total assets, $818.69 million in total
liabilities and $247.34 million in total shareholders' equity.

                           *     *     *

In the May 24, 2013, edition of the TCR, Moody's Investors Service
downgraded James River Coal Company's Corporate Family Rating to
Caa2 from Caa1.

"While the company continues to take actions to reposition
operations and shore up its balance sheet, we expect external
factors will preclude James River from maintaining credit measures
and liquidity consistent with the Caa1 rating level," said Ben
Nelson, Moody's lead analyst for James River Coal Company.

As reported by the TCR on Nov. 19, 2012, Standard & Poor's Ratings
Services raised its corporate credit rating on Richmond, Va.-based
James River Coal Co. to 'CCC' from 'SD' (selective default).

"We raised our rating on James River Coal because we understand
that the company has stopped repurchasing its debt at deep
discounts, for the time being," said credit analyst Megan
Johnston.


JOHN DINASO & SONS: Case Summary & 20 Top Unsecured Creditors
-------------------------------------------------------------
Debtor: John Dinaso & Sons Inc
        520 Industrial Loop
        Staten Island, NY 10309

Case No.: 14-41264

Chapter 11 Petition Date: March 19, 2014

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

Judge: Hon. Carla E. Craig

Debtor's Counsel: Moneesh K Bakshi, Esq.
                  RASH & BAKSHI
                  45 Rockefeller Plaza, Suite 2000
                  New York, NY 10111-2099
                  Tel: 646-583-1615
                  Fax: 845-818-5331
                  Email: bakshilaw@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by John Dinaso, president.


A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nyeb14-41264.pdf


KENNEDY-WILSON INC: Moody's Rates New Sr. Unsecured Notes 'B2'
--------------------------------------------------------------
Moody's Investors Service has assigned a B2 rating to the new
senior unsecured notes issued by Kennedy-Wilson, Inc. The rating
agency also assigned a (P) B2 rating to the senior unsecured
shelf, a (P) B3 rating to the subordinated shelf and a (P) Caa1
rating to the preferred shelf of Kennedy-Wilson Holdings, Inc. as
well as a (P) B2 rating to the senior unsecured shelf and a (P) B3
rating to the subordinated shelf of Kennedy-Wilson, Inc. In
addition, Moody's affirmed Kennedy-Wilson Inc.'s B2 senior
unsecured debt rating and B2 corporate family rating. The ratings
outlook is stable.

Ratings Rationale

The ratings assigned to Kennedy-Wilson (NYSE: KW) reflect the
company's growing real estate asset book and a substantial
portfolio of joint venture investments. KW's vertically-integrated
operating platform differentiates its investment proposition and
its long standing network of relationships generates valuable
investment opportunities for the company and its capital partners.
But the portfolio at year end 2013 had material geographic
concentration with California, Hawaii and other western states
accounting for over 60% of its investments; however, recent
activity will likely increase diversification. Substantial use of
off-balance sheet secured debt and complex investment structures
are some other important factors considered in the rating.

KW reported strong results for 2013 with 48% growth in revenues,
including pro-rata share of joint ventures, and 95% growth in
EBITDA (including joint ventures' share) as the company began to
realize income potential related to the $1.0 billion (127 %)
growth in real estate assets acquired since year end 2011. The
EBITDA margin, fixed charge coverage and net debt/EBITDA ratios
have improved in recent years.

Over the last two years, KW diversified its capital base issuing
$593 million of common equity and $160 million of unsecured debt.
Nevertheless, secured mortgage financing continues to be a very
important part of KW's capital planning with secured debt,
including its pro-rata share of JV debt, accounting for 48% of
gross assets at year-end 2013. Unencumbered assets as a proportion
of total assets continue to be very low as the company relies on
mortgage financing to fund portfolio growth.

In 2014, KW invested $203 million in Kennedy-Wilson Europe Real
Estate's (KWE) $1.7 billion initial public offering. Prior to
launching KWE, the firm acquired $5 billion in assets in the UK
and Ireland, which will be managed by a wholly owned subsidiary of
KW.

The stable rating outlook reflects Moody's expectation that KW's
leverage profile and earnings quality will continue to improve and
that the company will grow its business without diluting credit
metrics while maintaining adequate liquidity.

The following factors could lead to upward rating movement for KW
(all metrics are inclusive of KW's proportionate share of joint
ventures): 1) fixed charge coverage consistently above 1.5x; 2)Net
Debt/EBITDA consistently below 9x; 3) Effective leverage (debt
plus preferred equity as a percentage of gross assets) below 65%;
4) maintenance and growth in recurring income generating
unencumbered assets, 5) success in integration of European
investments and operations; 6) increased public disclosure and
transparency of its off-balance sheet ventures and 7) continued
growth in size and geographic diversity.

A ratings downgrade could occur if the following were to occur
(all metrics are inclusive of KW's proportionate share of joint
ventures): 1) Fixed charge coverage below 1x; 2) Net debt to
EBITDA above 12x, 3) Effective leverage (debt plus preferred
equity as a percentage of gross assets) above 80%; 4) secured debt
as a percentage of gross assets in excess of 60%, and 5) loss of
key business relationships.

The following ratings were assigned with a stable outlook:

Kennedy-Wilson Holdings, Inc.

  Senior unsecured shelf at (P) B2,
  subordinated shelf at (P) B3, and
  preferred shelf at (P) Caa1

Kennedy-Wilson, Inc.

  New senior unsecured notes at B2;
  Senior unsecured shelf at (P) B2, and
  Subordinated shelf at (P) B3

The following ratings were affirmed with a stable outlook:

Kennedy-Wilson, Inc.

   Senior unsecured debt at B2 and corporate family rating at B2

Moody's last rating action with respect to Kennedy-Wilson, Inc.
was on August 16, 2012 when Moody's downgraded the senior
unsecured and corporate family ratings to B2, from B1. The outlook
remained stable.

Kennedy-Wilson Holdings, Inc. [NYSE: KW] is an international real
estate investment and services firm. The company has grown from a
real estate auction business into a vertically-integrated real
estate operating company with over $14.8 billion of assets under
management totaling over 68 million square feet of properties
throughout the United States, Europe and Japan, including
ownership in 17,355 multifamily apartment units.

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


KIOR INC: Biofuel Maker Needs Cash to Stay in Business
------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Kior Inc., a producer of motor fuel from plant
material, said it may default on debt and file for bankruptcy
absent new funds from Vinod Khosla, who injected $100 million in
October alongside Gates Ventures LLC.

According to the report, the Pasadena, Texas-based company has a
contingent $25 million commitment from Khosla, a founder of Sun
Microsystems Inc.

Kior closed the plant in Columbus, Mississippi for upgrading in
January and is generating no income, the report related.

The stock reached a peak of $23.85 on Sept. 29, 2011, the report
said.  On March 19, the stock fell 39 percent to close at 65 cents
in New York trading, Bloomberg said.


KIOR INC: Discusses Final Terms on Financing Deal With Khosla
-------------------------------------------------------------
Lisa Allen, writing for The Deal, reported that advanced biofuel
producer Kior Inc., which has warned that liquidity constraints
could force a default or even a bankruptcy filing, is hashing out
the final terms of a financing deal with its main backer.

"Final terms and conditions are currently being negotiated" for a
$25 million loan from Vinod Khosla, a Silicon Valley venture
capitalist who was a co-founder of Sun Microsystems Inc.,
according to a Kior spokeswoman, the report related.

Pasadena, Texas-based Kior said in a March 17 Form 10-K filing
that it needs to close the financing deal with Khosla by April 1
in order to fund its operations and make its debt payments, the
report further related.

"We believe that we will be able to reach agreement on the funding
commitment before that date," the report cited the spokeswoman as
saying in an email.

The potential loan from Khosla, as described in the Form 10-K,
would allow Kior to draw no more than $5 million per month, the
report said.


LABORATORY PARTNERS: Wants Plan Filing Period Extended to June 23
-----------------------------------------------------------------
Laboratory Partners Inc. and its debtor-affiliates ask the U.S.
Bankruptcy Court for the District of Delaware to extend the period
during which the Debtors have the exclusive right to file a
Chapter 11 plan by approximately 60 days through and including
June 23, 2014, and the period during which the Debtors have the
exclusive right to solicit acceptances of that plan through and
including Aug. 22, 2014.

Since the Petition Date, the Debtors have focused their efforts
principally on procuring debtor-in-possession financing, seeking
approval of and running sale processes, preparing their schedules
of assets and liabilities and statements of financial affairs, and
establishing a claims administration process.  As a result, the
Debtors are still considering certain issues related to a plan and
drafting the same.

The Debtors are continuing to develop a Plan and discuss options
with major case constituents.  Consequently, the Debtors seek an
extension of the Exclusive Periods to allow the Debtors to
continue advancing the discussions and to finalize a Plan, Erin R.
Fay, Esq., at Morris, Nichols, Arsht & Tunnell LLP, the attorney
for the Debtor said in a court filing dated March 18, 2014.

The Debtors' proposed extension of the Exclusivity Periods will
add certainty and stability as the Debtors continue working
towards a sale of the Debtors' remaining assets.  The Debtors
remain in active negotiations with a potential purchaser for the
Debtors' long-term care division and intend to finalize the
negotiations in the near future.

On Nov. 26, 2013, the Debtor obtained court authorization to
employ Development Specialists, Inc., to provide William A.
Brandt, Jr., as Chief Executive Officer for the Debtors to, among
other things: (i) manage the ongoing operations of the Debtors;
(ii) evaluate the Debtors' current financial position, business
plans and future viability, including liquidity and cash needs;
and (iii) develop a business plan that attempts to maximize
profitability and cash flows.  DSI will be compensated at a fixed
rate of $25,000 per month, payable in advance, for the services of
Mr. Brandt.  The Debtors and DSI further agree that the Debtors
will compensate DSI for the services of these additional
personnel: (i) Patrick J. O'Malley, General Manager, at $575 per
hour; (ii) Jill E. Costie, Manager of Bankruptcy Reporting, at
$310 per hour; and (iii) Sean L. Farrell, Manager of Forecasting
and Reporting, at $250 per hour.  The hourly rates for other DSI
consultants are: (i) $425-$625 per hour for Senior Consultants;
and (ii) $175-$325 per hour for Consultants.

William A. Brandt, Jr., President and CEO of DSI, assured the
Court that the firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code.

                    About Laboratory Partners

Laboratory Partners Inc., a Cincinnati-based provider of lab and
pathology services, and several affiliates filed petitions for
Chapter 11 protection (Bankr. D. Del. Lead Case No. 13-12769) on
Oct. 25, 2013, in Delaware.  In its assets, the Debtor disclosed
$43,034,702.91 in total assets and at least $132,357,067.42 (plus
unknown) in total liabilities.

The debtor-affiliates are Kilbourne Medical Laboratories, Inc.,
MedLab Ohio, Inc., Suburban Medical Laboratory, Inc., Biological
Technology Laboratory, Inc., Terre Haute Medical Laboratory, Inc.,
and Pathology Associates of Terre Haute, Inc.  Certain of the
Debtors do business as MEDLAB.

Judge Peter J. Walsh presides over the case.  Laboratory Partners
is represented by Morris, Nichols, Arsht & Tunnell LLP's Robert
Dehney, Esq., and Erin R. Fay, Esq.; and Pillsbury Winthrop Shaw
Pittman LLP's Leo T. Crowley, Esq., and Margot P. Erlich, Esq. and
Jonathan J. Russo, Esq.  BMC Group Inc. serves as claims and
administrative agent.  Duff & Phelps Securities LLC serves as the
Debtors' investment bankers.

The Official Committee of Unsecured Creditors has retained
Otterbourg P.C., as Lead Co-Counsel; Klehr Harrison Harvey
Branzburg LLP as Delaware Counsel; and Carl Marks Advisory Group
LLC, as financial advisors.

In March 2014, the Bankruptcy Court authorized the Debtors to sell
their so-called "Talon Division," which refers to the clinical
laboratory and anatomic pathology services to (i) physicians,
physician officers and medical groups in Indiana, Illinois, and
(ii) Union Hospital, Inc., in Terre Haute and Clinton, Indiana, to
Laboratory Corporation of America Holdings for $10.5 million.  An
auction was cancelled after the Debtors received no competing bid
during the bid deadline.

The Court also authorized the Debtors to sell certain of their
assets relating to their nuclear medicine business to Union
Hospital, Inc.


LABORATORY PARTNERS: Committee Has Nod to Retain Counsel
--------------------------------------------------------
The Official Committee of Unsecured Creditors of Laboratory
Partners Inc. and its debtor-affiliates sought and obtained
authorization from the U.S. Bankruptcy Court for the District of
Delaware to retain these professionals:

      (i) Otterbourg P.C. as lead co-counsel to, among other
          things, assist and advise the Committee in its
          consultation with the Debtors relative to the
          administration of the cases, at these hourly rates:

                    Partner/Counsel        $595-$940
                    Associate              $275-$645
                    Paralegal              $250-$260

     (ii) Klehr Harrison Harvey Branzburg LLP as Delaware counsel
          to, among other things, assist, advise, and represent
          the Committee in analyzing the Debtors' assets and
          liabilities, investigating and participating in and
          reviewing any proposed asset sales or dispositions, at
          these hourly rates:

                    Partners               $360-$710
                    Of Cousnel             $325-$455
                    Associates             $230-$425
                    Paralegals             $150-$300

    (iii) Carl Marks Advisory Group LLC as financial advisor to,
          among other things, analyze proposed sale transaction(s)
          and monitor the Debtors' ongoing performance of the
          Debtors, keeping the Committee informed, and represent
          the Committee's interest with the intention to maximize
          recovery for the unsecured creditors, at these hourly
          rates:

                    Partners                   $750
                    Managing Directors         $550
                    Directors/Vice Presidents  $450
                    Associates                 $350
                    Analysts                   $300

David M. Posner, a member at Otterbourg; Margaret M. Manning,
Esq., an attorney at Klehr Harrison; and Mark L. Claster , a
partner at CMAG, assured the Court that the firms are
"disinterested persons" within the meaning of Section 101(14) of
the Bankruptcy Code.

Otterbourg intends to work closely with the Debtors'
representatives and the other professionals retained by the
Committee to ensure that there is no unnecessary duplication of
services performed or charged to the Debtors' estates.

                    About Laboratory Partners

Laboratory Partners Inc., a Cincinnati-based provider of lab and
pathology services, and several affiliates filed petitions for
Chapter 11 protection (Bankr. D. Del. Lead Case No. 13-12769) on
Oct. 25, 2013, in Delaware.  In its assets, the Debtor disclosed
$43,034,702.91 in total assets and at least $132,357,067.42 (plus
unknown) in total liabilities.

The debtor-affiliates are Kilbourne Medical Laboratories, Inc.,
MedLab Ohio, Inc., Suburban Medical Laboratory, Inc., Biological
Technology Laboratory, Inc., Terre Haute Medical Laboratory, Inc.,
and Pathology Associates of Terre Haute, Inc.  Certain of the
Debtors do business as MEDLAB.

Judge Peter J. Walsh presides over the case.  Laboratory Partners
is represented by Morris, Nichols, Arsht & Tunnell LLP's Robert
Dehney, Esq., and Erin R. Fay, Esq.; and Pillsbury Winthrop Shaw
Pittman LLP's Leo T. Crowley, Esq., and Margot P. Erlich, Esq. and
Jonathan J. Russo, Esq.  BMC Group Inc. serves as claims and
administrative agent.  Duff & Phelps Securities LLC serves as the
Debtors' investment bankers.

In March 2014, the Bankruptcy Court authorized the Debtors to sell
their so-called "Talon Division," which refers to the clinical
laboratory and anatomic pathology services to (i) physicians,
physician officers and medical groups in Indiana, Illinois, and
(ii) Union Hospital, Inc., in Terre Haute and Clinton, Indiana, to
Laboratory Corporation of America Holdings for $10.5 million.  An
auction was cancelled after the Debtors received no competing bid
during the bid deadline.

The Court also authorized the Debtors to sell certain of their
assets relating to their nuclear medicine business to Union
Hospital, Inc.


LANDAUER HEALTHCARE: Joint Disclosure & Plan Hearing on April 28
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved on
a preliminary basis as containing adequate information within the
meaning of Section 1125 of the Bankruptcy Code the disclosure
statement explaining the Chapter 11 plan of liquidation filed by
LMI Legacy Holdings Inc., f/k/a Landauer Healthcare Holdings,
Inc., and its debtor affiliates.

The Debtors are authorized to distribute a revised disclosure
statement and solicitation packages in order to solicit votes on,
and pursue confirmation of, the liquidation plan.  April 15 is
established as the voting deadline.

A hearing to jointly consider approval of the Revised Disclosure
Statement and the Plan will be held on April 28, 2014, at 11:00
a.m. (EST).  Objections to the approval of the Disclosure
Statement and the confirmation of the Plan must be filed no later
than April 15.

Under the Plan, holders of general unsecured claims are
anticipated to recover 1.01%-15.4% of their claims, which total
approximately $16 million to $18.4 million, while holders of
convenience class claims will recover 10% of their claims, which
total approximately $388,000.  Holders of administrative claims,
priority tax claims, and priority non-tax claims will recover 100%
of their claim amounts, while holders of intercompany claims,
subordinated claims, and equity interests will recover nothing.

The Debtors received $700,000 from the proceeds of the sale of
their assets to pay wind down expenses and an additional amount of
as much as $750,000 to cure defaults on contracts along with
unpaid operating expenses and professional fees for the Debtors
and the Official Committee of Unsecured Creditors.  The Debtors
also entered into a settlement, prior to the filing of the Plan,
which provided for the creation of a General Unsecured Creditors
Trust ("GUC Trust"), which will be funded with $2.5 million to be
supplied by Quadrant Management, Inc., whose affiliate purchased
the Debtors' assets.

A full-text copy of the Plan, revised on March 13, 2014, is
available at http://bankrupt.com/misc/LANDAUERplan0313.pdf

A full-text copy of the March 13 Disclosure Statement is available
at http://bankrupt.com/misc/LANDAUERds0313.pdf

                     About Landauer Healthcare

Home medical equipment provider Landauer Healthcare Holdings,
Inc., sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
13-12098) on Aug. 16, 2013, with a deal to sell all assets to
Quadrant Management Inc. for $22 million, absent higher and better
offers.

The Company has 32 operating locations, with 50% of inventory
concentrated in Mount Vernon, New York; Great Neck, New York;
Warwick, Rhode Island; and Philadelphia, Pennsylvania. Landauer,
which derives revenues by reimbursement from insurers, Medicare
and Medicaid, reported net revenues of $128.5 million in fiscal
year ended March 31, 2013.

Landauer disclosed $2,978,495 in assets and $53,636,751 in
liabilities as of the Chapter 11 filing.

The Debtors are represented by Justin H. Rucki, Esq., Michael R.
Nestor, Esq., and Matthew B. Lunn, Esq., at Young Conaway Stargatt
& Taylor LLP, in Wilmington, Delaware; John A. Bicks, Esq., at K&L
Gates LLP, in New York; and Charles A. Dale III, Esq., and
Mackenzie L. Shea, Esq., in Boston, Massachusetts.

Carl Marks Advisory Group serves as the Debtor's financial
advisors, and Epiq Systems as claims and notice agent.  Maillie
LLP serves as the Debtors' tax accountants.

The Debtor filed a Chapter 11 restructuring plan that would
transfer ownership of the home medical supply company to Quadrant
Management Inc., whose $22 million bid for the company went
unchallenged.

Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed
five members to the official committee of unsecured creditors in
the Chapter 11 cases.  The Committee retained Landis Rath & Cobb
LLP as counsel.  Deloitte Financial Advisory Services LLP serves
as its financial advisor.


LIGHTSQUARED INC: Judge Hears Arguments on Bankruptcy Plan
----------------------------------------------------------
Nick Brown, writing for Reuters, reported that a member of a
committee helping to oversee LightSquared's restructuring said on
Wednesday he believes the company's plan to subordinate the claims
of its largest creditor, Dish Network Corp Chairman Charles Ergen,
is fair.

According to the report, testifying in the U.S. Bankruptcy Court
in New York, Christopher Rogers, a member of the independent
special committee, said the plan is not an attempt to punish Ergen
for what LightSquared views as his surreptitious methods of
acquiring debt.

Rogers' testimony came during the opening day of what could be
weeks of court hearings on LightSquared's proposed restructuring
plan, the report related.  The company is seeking approval by
Judge Shelley Chapman to put the plan into effect and exit
bankruptcy.

Ergen bought up about $1 billion worth of LightSquared's senior
loan debt, despite an agreement between LightSquared and its
lenders that barred competitors from acquiring the company's debt.
Ergen said he bought the debt in his personal capacity, not on
behalf of Dish.

                      About LightSquared Inc.

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

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

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

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


LIGHTSQUARED INC: Ergen 'Forfeited' $700M Stake, Atty. Says
-----------------------------------------------------------
Kaja Whitehouse, writing for the New York Post, reported that
satellite mogul Charlie Ergen could lose his entire $700 million
investment in wireless start-up LightSquared if billionaire
investor Phil Falcone gets his way.

According to the Post, a lawyer for the hedge fund billionaire
argued that Ergen, owner of Dish Network, forfeited his rights to
the money because he was fully aware that strategic investors were
barred from owning the debt.  Law360 reported that Ergen's
personal investment history makes clear that his purchase of
Lightsquared debt was done for the benefit of Dish -- not himself
-- in violation of a credit agreement.

"This is a breach of contract case," said David Friedman,
Falcone's lawyer, the Post cited.  "A $700 million breach of
contract."

LightSquared and Falcone, whose Harbinger Capital Management is
the wireless start-up's largest stockholder, have sued Ergen for
allegedly using $700 million of his own money to buy an $850
million controlling stake in the company's senior loan, the Post
related.

Lawyers for Lightsquared and DISH made their closing arguments on
March 17 before U.S. Bankruptcy Judge Shelley C. Chapman.  Lawyers
for both parties, during their court appearance, threw their final
jabs in a dispute over whether Ergen should be held liable for
buying up a controlling share of Lightsquared secured debt, Law360
related.  Ergen's goal, according to LightSquared: to pave the way
for Dish to pick up its spectrum on the cheap, the Post said.

Other disputes related to approval of LightSquared's Chapter 11
plan will be argued at a hearing today.

                      About LightSquared Inc.

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

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

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

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


LIGHTSQUARED INC: Seeks to Disallow Ergen's "No" Vote on Plan
-------------------------------------------------------------
Tiffany Kary, writing for Bloomberg News, reported that
LightSquared Inc. said it will ask a judge not to count a "no"
vote on its bankruptcy reorganization plan cast by a fund
controlled by Dish Network Corp. Chairman Charles Ergen, saying
the fund acted in bad faith.

The report related that LightSquared has accused Ergen of secretly
accumulating the debt so he can buy the company's airwaves for a
below-market price through bankruptcy.  The fund, SP Special
Opportunities LLP, owns $1 billion of debt in LightSquared, the
wireless broadband company controlled by Philip Falcone's
Harbinger Capital Partners LLC.

"SPSO's rejection of the plan is in furtherance of its strategy --
executed in concert with Ergen and his other controlled companies
-- to acquire LightSquared at a steep discount to its fair value
by preventing LightSquared from reorganizing on a standalone
basis," the report said, citing to the filing.

Bill Rochelle, the bankruptcy columnist for Bloomberg News, noted
that LightSquared said its new plan has support from all major
creditor groups other than Ergen.  The company said Ergen voted
his claim, not as a creditor, but as a competitor hoping to run
LightSquared into liquidation and buy up frequency licenses "at
fire-sale prices."

Section 1126(e) of the Bankruptcy Code allows the bankruptcy court
to "designate" a claim not voted in "good faith" so that
creditor's vote won't count toward plan approval, Mr. Rochelle
said.

                      About LightSquared Inc.

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

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

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

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


LIGHTSQUARED INC: SPSO Obtains Order Protecting Confidential Info
-----------------------------------------------------------------
U.S. Bankruptcy Judge Shelley Chapman signed off on a protective
order, which authorizes the implementation of procedures proposed
by SP Special Opportunities LLC in connection with the turnover of
certain documents.

The procedures aim to protect "highly sensitive proprietary
information regarding certain technical matters" that will be
provided to SP Special Opportunities in connection with the
confirmation of LightSquared Inc.'s proposed plan to exit Chapter
11 protection.

A full-text copy of the protective order is available without
charge at http://is.gd/u3Knrz

SP Special is represented by:

     James C. Dugan, Esq.
     Rachel C. Strickland, Esq.
     Willkie Farr & Gallagher LLP
     787 Seventh Ave.
     New York, NY 10019-6099
     Tel: (212) 728-8000
     Fax: (212) 728-8111
     Email: jdugan@willkie.com
            rstrickland@willkie.com

                      About LightSquared Inc.

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

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

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

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


LIGHTSQUARED INC: Defends Exit Plan from Objections of SPSO, et al
------------------------------------------------------------------
LightSquared Inc. defended its proposed plan to exit Chapter 11
protection against a fund owned by Dish Network Corp. Chairman
Charles Ergen, saying the subordination of the fund's claims is
fair.

The restructuring plan calls for the subordination of SP Special
Opportunities' claims on grounds that they are not valid senior
secured claims.  The fund, however, would be paid in full under
the plan through the provision of a note.

SPSO had opposed the subordination of its claims, saying the note
would be out of money when LightSquared officially emerges from
bankruptcy.  It also argued that the note would bear interest at a
rate too low to compensate the fund for risks associated with the
note.

In a court filing, LightSquared's lawyer said the consideration
provided to SPSO under the plan "does not constitute unfair
discrimination."

"Although separately classified and treated differently, the
treatment proposed in the plan satisfies SPSO's allowed claims in
full irrespective of its conduct in connection with these Chapter
11 cases," said Matthew Barr, Esq., at Milbank Tweed Hadley &
McCloy LLP, in New York.

LightSquared has accused Mr. Ergen of secretly accumulating about
$1 billion of its debt through the fund so he can buy the
company's airwaves for a below-market price through bankruptcy.
The company says Mr. Ergen was acting on behalf of Dish, a
competitor, which makes the purchases improper.

An agreement between LightSquared and its lenders barred
competitors from acquiring the company's debt, according to court
papers.

LightSquared and its main shareholder Harbinger Capital Partners
filed a case against Mr. Ergen and his company, alleging he had
purchased the debt on Dish's behalf.  Mr. Ergen defended the
purchase, saying he bought the debt in his personal capacity.

Mr. Barr also defended the proposed restructuring plan against
objections from Dish and a Justice Department official charged
with regulating bankruptcy cases.

Dish questioned a provision that may strip L-Band Acquisition LLC
of its right to pursue a claim for the breakup fee and expenses it
incurred in connection with the negotiation of its $2.2 billion
takeover bid for LightSquared, which was terminated in January.

Meanwhile, William Harrington, the U.S. trustee for Region 2,
questioned a provision of the plan that releases non-debtor third
parties from liability, and that exculpates non-fiduciary third
parties.

Mr. Barr said Dish is not entitled to any break-up fees, and that
the release and exculpation provisions of the plan should be
approved since they "comply with applicable law."

The proposed plan also drew flak from ACE American Insurance, Co.
and Sound Point Capital Management, L.P.  LightSquared has already
included additional language in the plan resolving the objections,
according to the lawyer.

Meanwhile, Centaurus Capital LP, Fortress Investment Group LLC,
Harbinger, Melody Business Finance LLC, SIG Holdings Inc., U.S.
Bank N.A., and a group of secured lenders expressed support for
confirmation of the proposed plan.

LightSquared on Feb. 14 filed a plan, which contemplates the
provision of a new $1.65 billion loan, of which about $115 million
will be converted into equity.

The proposed plan, which is backed by Fortress, also contemplates
the payment in full of all claims and equity interests with cash
and other consideration; the issuance of new debt and equity
instruments; and the preservation of the company's litigation
claims.

Under the plan, LightSquared's bankruptcy exit is no longer
conditioned on the Federal Communications Commission's approval
related to terrestrial spectrum rights.  It doesn't also include
participation from Dish or its chairman.

A full-text copy of the proposed plan is available for free at
http://is.gd/ldNxOh

                      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: Incurs $14.2 Million Net Loss in 2013
---------------------------------------------------------------
Liquidmetal Technologies, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a
net loss and comprehensive loss of $14.24 million on $1.02 million
of total revenue for the year ended Dec. 31, 2013, as compared
with a net loss and comprehensive loss of $14.02 million on
$650,000 of total revenue for the year ended Dec. 31, 2012.

The Company's balance sheet at Dec. 31, 2012, showed $4.10 million
in total assets, $6.84 million in total liabilities and a $2.74
million total shareholders' deficit.

SingerLewak LLP, in Los Angeles, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations and
has an accumulated deficit.  This raises substantial doubt about
the Company's ability to continue as a going concern.

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

                         http://is.gd/UWJPAI

                   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.


LOU PEARLMAN: Backstreet Boys to Quit Playing Games With Claims
---------------------------------------------------------------
Law360 reported that the Backstreet Boys have requested additional
time to resolve a dispute with their former Ponzi-scheming
manager's bankruptcy trustee over $3.5 million in legal fees,
seeking to push back a scheduled March 24 hearing on the matter.

According to the report, the boy band, which rose to fame in the
1990s and released its eighth album last year, say they have a
scheduling conflict and have discussed postponing by 90 days the
March 24 hearing with the trustee overseeing the liquidation of
former manager Lou Pearlman's estate.


MAUI LAND: Reports $1.2 Million 2013 Net Loss
---------------------------------------------
Maui Land & Pineapple Company, Inc., reported a net loss of $1.16
million on $15.21 million of total operating revenues for the year
ended Dec. 31, 2013, as compared with a net loss of $4.60 million
on $13.57 million of total operating revenues in 2012.

"With the progress made on resolving our legacy issues and the
completion of the restructuring of our operations, we are now
focused on the development and marketing of our real estate assets
here on Maui," stated Warren H. Haruki, Chairman and CEO.  "We
believe the efforts of the past several years have strengthened
our ability to manage and care for our Maui landholdings for the
benefit of our stakeholders and the community."

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

                       http://is.gd/vZgYpO

                   About Maui Land & Pineapple Co.

Maui Land & Pineapple Company, Inc. (NYSE: MLP) --
http://mauiland.com/-- develops, sells, and manages residential,
resort, commercial, and industrial real estate.  The Company owns
approximately 23,000 acres of land on Maui and operates retail,
utility operations, and a nature preserve at the Kapalua Resort.
The Company's principal subsidiary is Kapalua Land Company, Ltd.,
the operator and developer of Kapalua Resort, a master-planned
community in West Maui.

The Company's balance sheet at Sept. 30, 2013, showed $56.66
million in total assets, $92.62 million in total liabilities and a
$35.95 million total stockholders' deficiency.

Deloitte & Touche LLP, in Honolulu, Hawaii, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012, citing recurring negative cash
flows from operations and deficiency in stockholders' equity which
raise substantial doubt about the Company's ability to continue as
a going concern.


MESA AIR: Appoints John Selvaggio as VP Business Development
------------------------------------------------------------
Mesa Air Group, Inc. on March 19 disclosed that John Selvaggio has
joined its senior leadership team as Vice President of Business
Development and Resource Planning.  With more than 35 years of
airline experience with American Airlines/AMR, US Airways and
Delta Air Lines, Mr. Selvaggio will help steer Mesa's long-term
growth and resource pipeline strategy.

"I'm delighted John has joined our team and will focus on
fostering new relationships aimed at enlarging Mesa's footprint
and ensuring the continuous flow of critical resources to bolster
our plans for growth," said CEO Jonathan Ornstein.

Mr. Selvaggio's significant career milestones include serving as
Assistant Vice President of Strategic Planning for American
Airlines, President, CEO and COO of post-bankruptcy Midway
Airlines and Vice President of US Airways Express for US Airways,
Inc.

He also served as Senior Vice President ? Airport Customer Service
for Delta Air Lines and President, CEO and COO of Delta's
innovative high-touch/low-cost subsidiary, Song Airlines.  From
2007 to 2009, he served as President and CEO of Delta-owned
Comair.

Mr. Selvaggio earned a bachelor of science degree in Accounting
from Fordham University and has served as a director for
professional organizations including the Regional Airline
Association.

Marcia Scott, joining Mesa as Director of Corporate
Communications, brings nearly 20 years of in-house corporate
communications, public relations agency and PR consulting
experience.  Since 2008, Scott served as Public Relations Account
Supervisor at The Lavidge Company in Phoenix.  Her previous
positions include Vice President of Corporate Communications and
Investor Relations for Atlanta-based PGi, Inc. and Director of
Corporate Communications and Investor Relations for both ValuJet
Airlines and AirTran Airways.

Ms. Scott's experience includes local, national and international
media relations, investor relations, employee communications,
crisis management, public affairs and community relations.  She
earned a bachelor's degree in Journalism-Public Relations from The
University of Florida.

                          About Mesa Air

Mesa Air currently operates 76 aircraft with approximately 450
daily system departures to 94 cities, 38 states, the District of
Columbia, and Mexico.  Mesa operates as US Airways Express and
United Express under contractual agreements with US Airways and
United Airlines, respectively, and independently as go! Mokulele.
This operation links Honolulu to the neighbor island airports of
Hilo, Kahului, Kona and Lihue.  The Company was founded by Larry
and Janie Risley in New Mexico in 1982.

Mesa Air Group Inc. and its units filed their Chapter 11 petitions
(Bankr. S.D.N.Y. Lead Case No. 10-10018) on Jan. 5, 2010, in New
York, listing assets of $976 million against debt totaling
$869 million as of Sept. 30, 2009.

Richard M. Pachulski, Esq., and Laura Davis Jones, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel to the
Debtors.  Imperial Capital LLC is the investment banker.  Epiq
Bankruptcy Solutions is claims and notice agent.  Brett Miller,
Esq., Lorenzo Marinuzzi, Esq., and Todd Goren, Esq., at Morrison &
Foerster LLP, serve as counsel to the Official Committee of
Unsecured Creditors.

Judge Martin Glenn entered a final order confirming the Third
Amended Joint Plan of Reorganization of Mesa Air Group, Inc., and
its debtor affiliates on Jan. 20, 2011.  Under the plan, the
reorganized company will issue new notes, common stock and
warrants to creditors.  Unsecured creditors that are U.S. citizens
will receive a combination of new notes and new common stock,
while unsecured creditors that are Non-U.S. citizens will receive
a combination of new notes and new warrants.  An agreement with US
Airways paved way for the filing of the plan.

Mesa Air's Plan of Reorganization became effective March 1, 2011.
The Company's restructuring accomplishments included elimination
of 100 excess aircraft and associated leases and debt which
contributed to the deleveraging of Mesa's balance sheet in the
approximate amount of $700 million in capitalized leases and
$50 million in debt, and extending the term of the code-share
agreement with US Airways through September 2015.


MILACRON HOLDINGS: Moody's Affirms B2 Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service affirmed the B2 Corporate Family and
Probability of Default ratings of Milacron Holdings Inc. as well
as the debt ratings of Milacron LLC, whose obligations are
guaranteed by Milacron Holdings Inc. (collectively Milacron).
Those ratings, B1 for senior secured and Caa1 for senior
unsecured, are unaffected by a $100 million increase in the
company's senior secured term loan, a portion of whose proceeds
will be used to partially redeem Milacron's existing senior
secured notes. The outlook remains stable.

Ratings Rationale

Milacron is accessing an accordion feature in its existing $243
million senior secured term loan (original amount $245 million) to
raise an additional $100 million (pro forma total, $343 million).
Along with cash on hand, funds will be used to partially redeem
$55 million of principal of its $275 million senior secured notes
(pro forma total, $220 million) with the balance used to replenish
cash utilized for several small acquisitions and retained for
further transactions. The amount of the existing $465 million of
senior unsecured notes is unaltered. The transaction will
effectively increase the company's funded debt by some $45 million
but preserve good liquidity. While the debt ratings of the
instruments have been affirmed, the increase in senior secured
claims will marginally impact recovery expectations of the
unsecured notes.

Milacron's B2 CFR reflects its moderate size, large installed base
of equipment utilized by plastic processors and molders, and
elevated financial leverage. Although it serves a diverse
collection of end-markets, demand will continue to be affected by
cyclical trends in capital expenditures and industrial production.
Mold-Masters, which was acquired in 2013, along with several
subsequent smaller acquisitions, helps to mitigate this volatility
given the more frequent change-over of hot runners relative to the
machinery used in the molding process and incremental volumes from
consumables, aftermarket parts and services.

Milacron's margins have significantly improved since the
operations were acquired out of bankruptcy. This has developed as
a result of stronger volumes, restructuring initiatives, which
boosted profitability and lowered the fixed and variable cost
structure, and the consolidation of Mold-Masters who enjoyed
stronger margins. Ongoing actions to achieve further synergies are
expected to improve prospects as well as broaden the company's
penetration into less cyclical end-markets.

The ratings incorporate good liquidity and elevated leverage
arising from CCMP's acquisition in 2012, the purchase of Mold-
Masters in 2013, and an increase in the company's debt from the
2014 financing. Debt levels are unlikely to materially decline
over the next two years, but earnings should grow in the mid-
single digit range, producing a gradual de-leveraging as well as
reasonable interest coverage metrics for the rating category.
Ongoing free cash flow is anticipated but will be relatively
modest, constrained by working capital requirements and capital
expenditures. Internally generated capital should increase over
time and be available to reduce indebtedness but may, in addition
to cash on hand, be used to fund acquisitions as only modest debt
maturities exist prior to a secured note maturity in 2019.

The one rating notch uplift to the $220 million note and $343
million term loan above the underlying CFR reflects the expected
loss from the application of the B2-PD probability of default,
higher recovery experience flowing from their secured status and a
substantial amount of junior debt in the capital structure which
effectively serves as a loss absorption cushion. Nonetheless, the
uplift was constrained to one notch as a result of structural
considerations arising from the "covenant-light" nature of the
secured debt and the extensive level of revenue and earnings
achieved by subsidiaries that are not part of the guarantor group.
The Caa1 rating on the unsecured notes reflects their higher
expected loss from the application of the same probability of
default and effective subordination of claims to the senior
secured obligations that will concentrate any loss in this class.

The stable outlook reflects prospects for sustained profitability
earned across diverse end-markets for plastic products and
industrial fluids. The capital goods sector remains cyclical but
the shorter cycle of Mold-Masters products and their stronger
growth prospects are expected to reduce variability in Milacron's
business mix. The stable outlook is further supported by good
liquidity that benefits from material cash balances and
availability under the company's committed back-up facilities,
including its asset based lending agreement of $100 million.

The ratings or outlook could face downward pressure if the
company's debt/EBITDA exceeded 6 times or if its EBITA/interest
coverage fell below 1.25 times. Similarly experiencing a material
decline in revenue, EBITA margins less than 10% or prolonged
periods of negative free cash flow could adversely affect the
ratings. A decline in debt/EBITDA meaningfully below 4 times,
EBITA/interest above 2.5 times while sustaining FCF/debt greater
than 7% could lead to a positive outlook or stronger ratings.

Ratings affirmed:

Milacron Holdings Inc.

  Corporate Family, B2

  Probability of Default, B2-PD

Milacron LLC

  Senior Secured Term Loan, B1 (LGD-3, 32%)

  Senior Secured Note, B1 (LGD-3, 32%)

  Senior Unsecured Note, Caa1 (LGD-5, 81% from LGD-5, 80%)

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

Milacron Holdings Inc., through its wholly-owned subsidiary,
Milacron LLC, produces equipment and supplies used in plastics-
processing as well as premium fluids used in metalworking. Annual
revenues of the Cincinnati, OH, headquartered firm are
approximately $1.1 billion/year.


MINI MASTER: Has Nod to Hire Pietrantoni Mendez as Special Counsel
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico has
granted Mini Master Concrete Services, Inc., permission to employ
Pietrantoni, Mendez & Alvarez, LLC, as special counsel.

As reported by the Troubled Company Reporter on March 7, 2014, the
Debtor wants to employ the services of PMA to proceed with the
appeal process as its special counsel under 11 U.S.C. Section
327(e).  Prior to the filing of its Chapter 11 petition, the
Debtor has a pending litigation case before the Court of First
Instance of Puerto Rico, San Juan Section.  On Jan. 16, 2014, the
Court of First Instance issued judgment in the case against Master
Concrete, dismissing the complaint challenging the Department of
the Treasury of Puerto Rico's final determination of excise tax
deficiencies.  The appeal of the judgment was due Feb. 21, 2014,
and the Debtor was advised by PMA that it should be undertaken,
which PMA agreed to handle on its behalf.

Mini Master Concrete aka Mini Master aka Empresas Master filed a
Chapter 11 petition (Bankr. D. P.R. Case No. 13-10302) on Dec. 11,
2013, in Old San Juan, District of Puerto Rico.  Charles Alfred
Cuprill, Esq., at Charles A Cuprill, PSC Law Office, in San Juan,
in Puerto Rico, serves as counsel to the Debtor.  The petition was
signed by Carmen Betancourt, president.


MMODAL INC: Files for Chapter 11 Bankruptcy Protection
------------------------------------------------------
Tom Corrigan, writing for The Wall Street Journal, reported that
M*Modal Inc., a medical-services company owned by J.P. Morgan
Chase Co.'s private-equity arm, filed for Chapter 11 bankruptcy
protection, following a decline in sales and mounting debt.

According to the report, the filing in U.S. Bankruptcy Court in
New York comes at the end of a grace period after the company
skipped a February interest payment to bondholders.

Just hours after the filing, Judge Robert E. Gerber approved
M*Modal's so-called first-day motions, which ease the company's
transition into bankruptcy protection, allowing it to pay
employees and use its remaining assets to continue existing
operations, the report related.  A final hearing on the motions
was scheduled for April 16.

"We intend to use the court process to significantly strengthen
M*Modal's balance sheet and improve the company's financial
flexibility by reducing our debt burden and establishing a capital
structure that supports our investment in the future," the report
cited Duncan James, the company's chief executive officer, as
saying in a statement.

M*Modal's 14 separate entities, which collectively listed
liabilities of $852 million and assets of about $626 million,
according to court papers, expect to continue normal operations
throughout the Chapter 11 process, the report said.

                           *     *     *

The Troubled Company Reporter, on Feb. 21, 2014, reported that
Standard & Poor's Ratings Services lowered its corporate credit
rating on MModal to 'D' from 'B-'.  S&P also lowered the ratings
on the company's $250 million unsecured notes due 2020 to 'D' from
'CCC'.  The recovery rating for these notes remains '6',
indicating S&P's expectation for negligible (0%-10%) recovery in
the event of a payment default.  At the same time, S&P lowered the
ratings on the company's $520 million senior secured credit
facilities, which consist of a $75 million revolving credit
facility due 2017 and a $445 million term loan due 2019, to 'CC'
from 'B'.  The recovery rating remains '2', indicating S&P's
expectations for substantial (70%-90%) recovery in the event of a
payment default.


MUNICIPAL MORTGAGE: Lisa M. Roberts to Continue Serving as CFO
--------------------------------------------------------------
Municipal Mortgage & Equity, LLC, entered into an employment
agreement with Lisa M. Roberts, its executive vice president and
chief financial officer on Feb. 20, 2014.

The employment agreement has a three year term ending on Dec. 31,
2016, and provides for an initial base compensation for calendar
year 2014 of $460,000, subject to annual increases thereafter at
the discretion of the Compensation Committee of the Board of
Directors.

In addition to her base compensation, Ms. Roberts is eligible to
receive incentive compensation payable in cash, shares, options or
otherwise as determined by the Compensation Committee based on
individual and company performance.

A copy of the Form 8-K report is available for free at:

                        http://is.gd/iCB4gu

                      About Municipal Mortgage

Baltimore, Md.-based Municipal Mortgage & Equity, LLC (Pink
Sheets: MMAB) -- http://www.munimae.com/-- was organized in 1996
as a Delaware limited liability company and is classified as a
partnership for federal income tax purposes.

When the Company became a publicly traded company in 1996, it was
primarily engaged in originating, investing in and servicing tax-
exempt mortgage revenue bonds issued by state and local government
authorities to finance affordable multifamily housing
developments.  Since then, the Company made several acquisitions
that significantly expanded its business.  However, in 2008, due
to the financial crisis, the Company began contracting its
business.

The Company has sold, liquidated or closed down all of its
different businesses except for its bond investing activities and
certain assets and residual interests related to the businesses
and assets that the Company sold due to its liquidity issues.

The Company has a majority position in International Housing
Solutions S.a.r.l., a partnership that was formed to promote and
invest in affordable housing in overseas markets.  In addition, at
Dec. 31, 2010, the Company has an unfunded equity commitment of
$5.1 million, or 2.67% of total committed capital with respect to
its role as the general partner to the South Africa Workforce
Housing Fund SA I ("SA Fund").  The SA Fund was formed to invest
directly or indirectly in housing development projects and housing
sector companies in South Africa.  A portion of the funding of SA
Fund is participating debt provided by the United States Overseas
Private Investment Corporation, a federal government entity, and
the remainder is equity primarily invested by institutional and
large private investors.  The Company expects to continue this
business.

In the auditors' report accompanying the consolidated financial
statements for the year ended Dec. 31, 2011, KPMG LLP, in
Baltimore, Maryland, expressed substantial doubt about the
Company's ability to continue as a going concern.  The independent
auditors noted that the Company has been negatively impacted by
the deterioration of the capital markets and has liquidity issues
which have resulted in the Company having to sell assets and work
with its creditors to restructure or extend its debt arrangements.

The Company's balance sheet at Sept. 30, 2013, showed $1.03
billion in total assets, $500.36 million in totla liabilities and
$539.49 million in total equity.


NATCHEZ REGIONAL: Hospital Bankruptcy Bill Signed by Governor
-------------------------------------------------------------
Vershal Hogan, writing for Natchez Democrat, reported that the
bill that will allow Natchez Regional Medical Center to declare
Chapter 9 has left the governor's desk, clearing the way for the
county-owned hospital to proceed with the appropriate court
filings.

According to the state legislature website, Gov. Phil Bryant
signed the bill on March 4, the report related.

The report said because the hospital is county-owned, declaring
bankruptcy requires legislative approval.  NRMC officials sought
permission to file for bankruptcy in February, saying the hospital
faced at the time $3 million more in financial liabilities than it
had in assets.

All of the area's legislative delegation voted for the measure,
except Sen. Melanie Sojourner, R-Natchez, who was records as being
one of the eight legislators who were absent or not voting on the
measure, the report added.

                        About Natchez Regional

Based in Natchez, Mississippi, Natchez Regional Medical Center is
a full-service hospital offering comprehensive diagnostic and
treatment services for acute, subacute and ambulatory care.
Natchez Regional serves as a referral center for the five
Mississippi counties and two Louisiana parishes it serves, known
locally as the Miss-Lou.  The hospital is owned by Adams County.

The Debtor filed a petition for Chapter 9 on Feb. 12, 2009 (Bankr.
S.D. Miss. Case No. 09-00477).  Eileen N. Shaffer, Esq.,
represents the Debtor as counsel.  The Debtor listed total assets
of between $10 million and $50 million, and total debts of between
$10 million and $50 million.


NEW ENGLAND COMPOUNDING: $100M Deal In MDL Nears Finish Line
------------------------------------------------------------
Law360 reported that the trustee of bankrupt New England
Compounding Pharmacy Inc. and other parties are close to
completing a proposed deal in which victims of a fatal 2012
meningitis outbreak would receive $100 million in multidistrict
litigation, they told a Massachusetts federal judge.

According to the report, bankruptcy trustee Paul Moore said he and
a committee representing the victims have been negotiating and
drafting documents since the settlements-in-principle were
announced in December, and that they will be completing the deals
"shortly."

             About New England Compounding Pharmacy

New England Compounding Pharmacy Inc., filed a Chapter 11 petition
(Bankr. D. Mass. Case No. 12-19882) in Boston on Dec. 21, 2012,
after a meningitis outbreak linked to an injectable steroid,
methylprednisolone acetate ("MPA"), manufactured by NECC, killed
39 people and sickened 656 in 19 states, though no illnesses have
been reported in Massachusetts.  The Debtor owns and operates the
New England Compounding Center is located in Framingham, Mass.  In
October 2012, the company recalled all its products, not just
those associated with the outbreak.

Paul D. Moore, Esq., at Duane Morris LLP, in Boston, has been
appointed as Chapter 11 Trustee of NECC.  He is represented by:

         Jeffrey D. Sternklar, Esq.
         DUANE MORRIS LLP
         Suite 2400
         100 High Street
         Boston, MA 02110-1724
         Tel: 857-488-4216
         Fax: 857-401-3034

An Official Committee of Unsecured Creditors appointed in the case
has been represented by:

         BROWN RUDNICK LLP
         William R. Baldiga, Esq.
         Rebecca L. Fordon, Esq.
         Jessica L. Conte, Esq.
         One Financial Center
         Boston, MA 02111
         Tel: (617) 856-8200

              - and -

         David J. Molton, Esq.
         Seven Times Square
         New York, NY 10036
         Tel: (212) 209-4800


NEWLEAD HOLDINGS: Issues 2 Million Settlement Shares to MGP
-----------------------------------------------------------
NewLead Holdings Ltd. issued and delivered to MG Partners Limited
2,000,000 additional settlement shares.  As of Feb. 20, 2014, the
Company had approximately 41,436,862 million shares outstanding.

On Dec. 2, 2013, the Supreme Court of the State of New York,
County of New York, entered an order approving, among other
things, the fairness of the terms and conditions of an exchange
pursuant to Section 3(a)(10) of the Securities Act of 1933, as
amended, in accordance with a stipulation of settlement among
NewLead Holdings Ltd., Hanover Holdings I, LLC, and MG Partners
Limited, in the matter entitled Hanover Holdings I, LLC v. NewLead
Holdings Ltd., Case No. 160776/2013.  Hanover commenced the Action
against the Company on Nov. 19, 2013, to recover an aggregate of
$44,822,523 of past-due indebtedness of the Company, which Hanover
had purchased from certain creditors of the Company pursuant to
the terms of separate purchase agreements between Hanover and each
of such creditors.  The Order provides for the full and final
settlement of the Claim and the Action.

Pursuant to the terms of the Settlement Agreement approved by the
Order, on Dec. 2, 2013, the Company issued and delivered to MGP,
as Hanover's designee, 5,250,000 shares of the Company's common
stock, $0.01 par value.

A copy of the Form 6-K is available for free at:

                         http://is.gd/aLQx6V

                        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.


NORTEL NETWORKS: Creditors' Panel Hires Cassels Brock as Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Nortel Networks
Inc., and its debtor-affiliates seeks authorization from the U.S.
Bankruptcy Court for the District of Delaware to retain Cassels
Brock & Blackwell LLP as successor Canadian counsel, nunc pro tunc
to Mar. 4, 2014.

The Committee submits that it is necessary and appropriate for it
to employ and retain Cassels Brock as successor Canadian counsel
to ensure that the same attorneys who have had primary
responsibility for advising the Committee on Canadian legal issues
and representing the Committee in connection with the Canadian
Proceeding can continue to provide, among other things, the
following services, at the direction of the Committee's lead
counsel, Akin Gump:

   (a) advise the Committee with respect to its rights, duties and
       powers in connection with the Canadian Proceeding;

   (b) assist and advise the Committee in its consultations with
       the Debtors and other parties in interest in the Canadian
       Proceeding in relation to matters of Canadian law;

   (c) assist and advise the Committee in connection with the
       allocation trial and all relevant aspects thereof;

   (d) assist and advise the Committee as to its communications to
       the general creditor body regarding significant matters in
       the Canadian Proceeding;

   (e) represent the Committee at all hearings in the Canadian
       Proceeding;

   (f) review and analyze motions, applications, orders, reports,
       statements of operations and schedules filed with the
       Canadian Court and advise the Committee as to their
       propriety, and to the extent deemed appropriate by the
       Committee, support, join or object thereto;

   (g) advise and assist the Committee with respect to any
       Canadian legislative, regulatory or governmental
       activities;

   (h) assist the Committee in preparing pleadings including,
       without limitation, motions, affidavits, facta, records,
       memoranda, complaints, adversary complaints, objections or
       comments as may be necessary in furtherance of the
       Committee's interests in the Canadian Proceeding;

   (i) assist the Committee in its review and analysis of the
       Debtors' various commercial agreements and inter-company
       transactions in so far as they relate to or are the subject
       of the Canadian Proceeding;

   (j) assist the Committee in developing and implementing
       protocols for the coordination of these Chapter 11 cases
       with the Canadian Proceeding and coordinating with counsel
       in the Canadian Proceeding; and

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

Cassels Brock will be paid at these hourly rates:

       Partners/Senior Consultants       $600-$1050
       Associates                        $390-$700
       Paraprofessionals                 $125-$435
       R. Shayne Kukulowicz, Partner        $900
       Michael J. Wunder, Partner           $795
       Ryan Jacobs, Partner                 $750
       Keri Wallace, Associate              $390

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

Mark I. Young, member of Cassels Brock, 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.

Cassels Brock can be reached at:

       Mark I. Young, Esq.
       CASSELS BROCK & BLACKWELL LLP
       Scotia Plaza
       40 King Street West, Ste 2100
       Toronto, ON M5H 3C2
       Canada
       Tel: 416 869 5300
       Fax: 416 360 8877

                       About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
business in more than 150 countries around the world.  Nortel
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates
commenced a proceeding with the Ontario Superior Court of Justice
under the Companies' Creditors Arrangement Act (Canada) seeking
relief from their creditors.  Ernst & Young was appointed to serve
as monitor and foreign representative of the Canadian Nortel
Group.  That same day, the Monitor sought recognition of the CCAA
Proceedings in U.S. Bankruptcy Court (Bankr. D. Del. Case No.
09-10164) under Chapter 15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy
Court for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., at Cleary Gottlieb
Steen & Hamilton, LLP, in New York, serves as the U.S. Debtors'
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

The United States Trustee appointed an Official Committee of
Unsecured Creditors in respect of the U.S. Debtors.  An ad hoc
group of bondholders also was organized.

Fred S. Hodara, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
New York, and Christopher M. Samis, Esq., at Richards, Layton &
Finger, P.A., in Wilmington, Delaware, represent the Official
Committee of Unsecured Creditors.

An Official Committee of Retired Employees and the Official
Committee of Long-Term Disability Participants tapped Alvarez &
Marsal Healthcare Industry Group as financial advisor.  The
Retiree Committee is represented by McCarter & English LLP as
Delaware counsel, and Togut Segal & Segal serves as the Retiree
Committee.  The Committee retained Alvarez & Marsal Healthcare
Industry Group as financial advisor, and Kurtzman Carson
Consultants LLC as its communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

Judge Gross and the court in Canada scheduled trials in 2014 on
how to divide proceeds among creditors in the U.S., Canada, and
Europe.


NORTHERN BEEF: Wants Sale Closing Extended to April 5
-----------------------------------------------------
Northern Beef Packers Limited Partnership is seeking an extension
of the deadline for closing the sale of its Operating Assets to
White Oak Global Advisors, LLC, the successful bidder at an
auction in December.  Specifically, the Debtor asks the Court to
enter an order:

     (a) extending the date by which White Oak is required to
         close on the sale of the Operating Assets until April 5,
         2014; and

     (b) if White Oak fails to then timely close on the sale,
         extending the date by which the backup bidder is required
         to close on the sale of the Operating Assets until
         April 12, 2014.

White Oak is acquiring the assets in exchange for a credit bid of
$39,500,000 and a cash bid of $4,847,160, for a total bid of
$44,347,160.  The final cash portion of White Oak's total bid will
be determined after all issues regarding the validity, priority,
and extent of liens on the Operating Assets sold are resolved.

American Foods Group, LLC is the Backup Bidder with an all-cash
bid of $12,750,000.

The Debtor said it and White Oak are now working to close the sale
of the Operating Assets.  To make sure that all administrative
matters necessary for the closing are properly handled in
connection with the closing, the Debtor and White Oak have agreed
that it is in the best interests of the estate and parties in
interest to have the closing deadline briefly extended.  For
example, White Oak is awaiting confirmation on the timing of the
effectiveness of new insurance, and the parties do not want to
risk any gap in insurance coverage.

The Debtor said it has funding through April 5, 2014 under the
Third Stipulation Amending and Extending Post-Petition Financing,
which was approved by the Court, so there will be no harm to the
estate from such delay.

On Jan. 9, 2014, the Court extended the deadline for the sale of
the Operating Assets to close until not later than the date that
is 10 days after the date on which the Court enters a judgment in
Adv. No. 13-1016, and the closing date regarding the sale of the
Operating Assets for the Backup Bidder is extended until not later
than the date that is 17 days after the date on which the Court
enters a judgment in Adv. No. 13-1016.

The adversary proceeding was launched following the sale.  Two of
secured creditors of Northern Beef Packers Limited Partnership --
SDIF Limited Partnership 6 and SDIF Limited Partnership 9 --
commenced an adversary proceeding so the Bankruptcy Court could
sort out the extent of various parties' liens and other
encumbrances against the Debtor's assets and determine their
priority.

On March 11, 2014, the Court issued its Decision re: Defendant
White Oak Global Advisors, LLC's Motion for Judgment on the
Pleadings or, in the Alternative, for Partial Summary Judgment,
entered its Order Directing Entry of Partial Summary Judgment as
to Plaintiffs' and Certain Defendants' Interests in Debtor's
Operating Assets and entered Partial Summary Judgment in Adv. No.
13-1016, thus clearing the path for the closing of the sale of the
Operating Assets to White Oak.  The March 14 edition of the
Troubled Company Reporter ran a story on the decision.

Attorneys for Northern Beef Packers Limited Partnership are:

     COZEN O'CONNOR
     Steven H. Silton, Esq.
     Thomas G. Wallrich, Esq.
     Joel D. Nesset, Esq.
     33 South Sixth Street, Suite 4640
     Minneapolis, MN 55402
     Tel:: (612) 260-9000

          - and -

     BANTZ, GOSCH & CREMER, L.L.C.
     Rory King, Esq.
     305 Sixth Ave. SE
     Aberdeen, SD 57402-0970
     Tel: (605) 225-2232

                     About Northern Beef Packers

Northern Beef Packers Limited Partnership, which operates a beef
processing facility that opened in October 2012, filed for
Chapter 11 relief (Bankr. D.S.D. Case No. 13-10118) on July 19,
2013.  Karl Wagner signed the petition as chief financial officer.
Judge Charles L. Nail, Jr., presides over the case.  The Debtor
estimated assets of at least $50 million and debts of at least
$10 million.  James M. Cremer, Esq., at Bantz, Gosch, & Cremer,
L.L.C., serves at the Debtor's counsel.  Steven H. Silton, Esq.,
at Cozen O'Connor serves as co-counsel.  Lincoln Partners Advisors
LLC serves as financial advisors.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors in the case.  Robbins, Salomon &
Patt, Ltd. serves as it lead counsel.  Patrick T. Dougherty serves
as its local counsel.


NPS PHARMACEUTICALS: Christine Mikail Named SVP Legal Affairs
-------------------------------------------------------------
Edward Stratemeier, NPS Pharmaceuticals, Inc.'s senior vice
president, legal affairs, general counsel and corporate secretary,
retired on Feb. 28, 2014.  The Company had previously announced
that Mr. Stratemeier would retire on the earlier of March 31,
2014, or the date that the Company has named an acceptable
replacement to assume Mr. Stratemeier's responsibilities.  Mr.
Stratemeier will continue to serve the Company as an outside
consultant, and during that service his outstanding equity awards
will continue to vest according to their terms.

Effective March 3, 2014, Christine Mikail was appointed senior
vice president, legal affairs, and general counsel of the Company.
Ms. Mikail previously served as executive vice president,
corporate development, as well as general counsel, scretary and
chief compliance officer, at Dendreon, a public biotechnology
company, where she led a bi-coastal legal and compliance team and
business development team.  Previously, she held senior corporate
development and legal positions with Savient Pharmaceuticals,
ImClone Systems, and Eli Lilly.

                     About NPS Pharmaceuticals

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing new treatment
options for patients with rare gastrointestinal and endocrine
disorders.

NPS Pharmaceuticals incurred a net loss of $13.50 million in 2013,
following a net loss of $18.73 million in 2012.  The Company had a
net loss of $36.26 million in 2011.  As of Dec. 31, 2013, the
Company had $292.22 million in total assets, $187.33 million in
total liabilities and $104.89 million in total stockholders'
equity.


NUVILEX INC: Obtains $27MM Funding Commitment From Lincoln Park
---------------------------------------------------------------
Nuvilex, Inc., has entered into a stock purchase agreement with
Lincoln Park Capital Fund, LLC, a Chicago-based institutional
investor.  Lincoln Park initially purchased 8 million shares of
Nuvilex's common stock at $0.25 per share for $2 million and has
committed to invest, at the sole option of Nuvilex, up to an
additional $25 million of equity capital over the term of the
purchase agreement.  The proceeds from this investment will be
used for Nuvilex's late-stage clinical trials in advanced
inoperable pancreatic cancer, for research into the use of
constituents of marijuana in the emerging medical marijuana arena
and for general operating purposes.

Kenneth L. Waggoner, the CEO and president of Nuvilex, commented,
"Our stock purchase agreement with Lincoln Park gives Nuvilex the
flexibility to access capital over time at prevailing market
prices and as our needs arise.  The initial funding helps us to
proceed with our planned late-stage pancreatic cancer clinical
trials.  The $2 million initial investment also reflects the
commitment to Nuvilex and our live-cell encapsulation platform for
developing treatments for cancer and diabetes."

During the 36-month term of the stock purchase agreement, Nuvilex,
at its sole discretion, has the right to sell Lincoln Park up to
an additional $25 million of Nuvilex common stock in amounts as
described in the agreement and subject to certain conditions which
include the effectiveness of a registration statement with the
U.S. Securities and Exchange Commission covering the sale of the
shares that may be issued to Lincoln Park.  Nuvilex controls the
timing and amount of any future investment.  Lincoln Park is
obligated to make purchases if and when Nuvilex decides.

Under the terms of the stock purchase agreement, there are no
upper limits on the price Lincoln Park may pay to purchase
Nuvilex's common stock.

The purchase price of the shares related to any future investments
will be based on the prevailing market prices of Nuvilex's shares
immediately preceding a notice of sale to Lincoln Park.  Lincoln
Park has agreed not to cause or engage in any direct or indirect
short selling or hedging of Nuvilex's common stock.  The stock
purchase agreement may be terminated by Nuvilex at any time at its
sole discretion and without any monetary cost to Nuvilex.

A copy of the Purchase Agreement is available at:

                       http://is.gd/gXhMfk

                        About Nuvilex Inc.

Silver Spring, Md.-based Nuvilex, Inc.'s current strategy is to
focus on developing and marketing products designed to improve the
health and well-being of those who use them.

Nuvilex incurred a net loss of $1.59 million on $12,160 of product
sales for the 12 months ended April 30, 2013, as compared with a
net loss of $1.89 million on $66,558 of total revenue during the
prior year.

The Company's balance sheet at Oct. 31, 2013, showed $4.59 million
in total assets, $990,967 in total liabilities and $3.60 million
in total stockholders' equity.

Robison, Hill & Co., in Salt Lake City, Utah, issued a "going
concern" qualification on the consolidated financial statements
for the year ended April 30, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations
which raises substantial doubt about its ability to continue as a
going concern.


ORCKIT COMMUNICATIONS: Settles Dispute with Note Holders
--------------------------------------------------------
Representatives of Orckit Communications Ltd. and representatives
of the holders of the Company's Series A notes and Series B notes
reached an agreement on the issues that were in contention in the
proposed arrangement under Section 350 of the Israeli Companies
Law among the Company and the Note holders, which was presented by
the joint committee of the representatives of the Note holders on
Jan. 30, 2014.

In particular, Mr. Izhak Tamir undertook to continue to serve as
the Company's chief executive officer for at least three months
following the consummation of the Arrangement, to assist the
Company as requested for at least 24 months in the area of
customer support and for an unlimited period in the area of
litigation and patent monetization.  The waiver of liability in
favor of the Company's directors and officers would be contingent
upon the fulfillment by Mr. Tamir of such undertakings.  The
Company's financial obligations toward Mr. Izhak Tamir and Mr.
Eric Paneth would be converted into Series C notes, with the same
rights as the financial obligations toward the holders of the
Notes.

In lieu of the petition filed on Feb. 18, 2014, by the
representatives of the Note holders for a stay of proceedings and
the appointment of Mr. Yoav Kfir as a trustee over the Company,
the parties agreed that Mr. Yoav Kfir will be appointed as a
member of the Board of Directors of the Company within the next
two days.  He will be appointed as the Chairman of the Board
promptly after all the representatives of the Note holders have
agreed to approve the Arrangement.  If the Arrangement is not
approved by June 5, 2014, the Board of Directors will be permitted
to remove Mr. Kfir.

Upon the joint request of the parties, the Tel Aviv District Court
appointed Mr. Shay Nissan as the expert to opine on the terms of
the Arrangement, as contemplated by Section 350 of the Israeli
Companies Law.  The expert is expected to submit his opinion in
two weeks, following which meetings of the Note holders would be
convened to vote on the Arrangement.

Under applicable law, an arrangement requires various approvals,
including various stakeholders of the Company, the Tel Aviv
District Court and the Tel Aviv Stock Exchange.

                           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.


OVERSEAS SHIPHOLDING: U.S. Names 3 to Equity Holders' Committee
---------------------------------------------------------------
Roberta A. DeAngelis, U.S. Trustee for Region 3, notified the U.S.
Bankruptcy Court for the District of Delaware that she has
appointed three members to an official committee of equity
security holders in the Chapter 11 cases of Overseas Shipholding
Group Inc., and its debtor affiliates.

The Committee members are:

   (1) Cyrus Opportunities Fund II, LP
       c/o Cyrus Capital Partners, LP
       Attn: Joseph Kronsberg
       399 Park Avenue, #3900
       New York, NY 10022
       Phone: 212-380-5800
       Fax: 212-380-5844

   (2) Caxton International, Limited
       c/o Caxton Associates, LP
       Attn: Anna Stavreska and Ajay Mehra
       500 Park Avenue, 10th Floor
       New York, NY 10022
       Phone: 212-418-3776 and 212-418-8324
       Fax: 212-593-3614-0336

   (3) Andrew Swanston
       25 East Churchill Street
       Baltimore, MD 21230
       Phone: 410-244-8541
       Fax: 410-244-8541

Jeffrey M. Schlerf, Esq. -- jschlerf@foxrothschild.com --
John H. Strock, Esq. -- jstrock@foxrothschild.com -- and L. John
Bird, Esq. -- lbird@foxrothschild.com -- at FOX ROTHSCHILD LLP, in
Wilmington, Delaware; and Steven D. Pohl, Esq. --
spohl@brownrudnick.com -- James W. Stoll, Esq. --
jstoll@brownrudnick.com -- Jesse N. Garfinkle, Esq. --
jgarfinkle@brownrudnick.com -- at BROWN RUDNICK LLP, in Boston,
Massachusetts, filed a notice of appearance as proposed counsel
for the Official Committee of Equity Security Holders.

                    About Overseas Shipholding

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

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

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

Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton LLP, serve
as co-counsel to the official committee of unsecured creditors.
FTI Consulting, Inc., is the financial advisor and Houlihan Lokey
Capital, Inc., is the investment banker.


OVERSEAS SHIPHOLDING: Shareholders Signal Restructuring Battle
--------------------------------------------------------------
Jacqueline Palank, writing for The Wall Street Journal, reported
that a newly formed shareholder group is ready to rumble in
Overseas Shipholding Group Inc.'s bankruptcy, arguing in its first
court appearance that the shipping company's restructuring deal
doesn't offer enough value to equity and is the product of
"flawed" negotiations.

According to the report, the official committee of Overseas
Shipholding's equity holders said it needs time to investigate a
deal that locks in the company's lenders to a restructuring that
would see the lenders own nearly all of the company and pay
creditors in full while leaving existing shareholders roughly $60
million in stock and warrants.

Shareholder committee attorney Steven Pohl told Judge Peter Walsh
that shareholders believe there's "a whole lot more value" for
equity than what the plan currently proposes, the report related.
He accused the company and its lenders of pushing a restructuring
strategy that ignores shareholders' interests.

"You don't get to do that in a solvent case. In a solvent case you
owe fiduciary duties to your shareholders," said Mr. Pohl, of
Brown Rudnick LLP, the report cited.  "Here, that got checked at
the door."

Luke Barefoot of Cleary Gottlieb Steen & Hamilton LLP, who is
representing Overseas Shipholding, countered that the company
worked with all of its stakeholders, including equity, in crafting
a restructuring plan that provides compensation to all, a rare
result in bankruptcy, the report further related.

Cyrus Opportunities Fund II, LP, Caxton International, Limited,
and Andrew Swanston, were appointed members to an official
committee of equity security holders.  Jeffrey M. Schlerf, Esq.,
John H. Strock, Esq., and L. John Bird, Esq., at FOX ROTHSCHILD
LLP, in Wilmington, Delaware; and Steven D. Pohl, Esq., James W.
Stoll, Esq., and Jesse N. Garfinkle, Esq., at BROWN RUDNICK LLP,
in Boston, Massachusetts, filed a notice of appearance as proposed
counsel for the Equity Committee.

                    About Overseas Shipholding

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

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

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

Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton LLP, serve
as co-counsel to the official committee of unsecured creditors.
FTI Consulting, Inc., is the financial advisor and Houlihan Lokey
Capital, Inc., is the investment banker.


OVERSEAS SHIPHOLDING: Hires Heidrick as Board Search Advisor
------------------------------------------------------------
Overseas Shipholding Group, Inc. and its debtor-affiliates ask for
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Heidrick & Struggles International, Inc. as
board search advisor, nunc pro tunc to Feb. 24, 2014.

Heidrick & Struggles will provide these services:

   (a) Stakeholder Survey;

       - can be conducted in-person or by phone

       - prioritize "categories" of candidate (Chairman, Audit,
         Shipping, etc.)

       - focuses on gathering hard and soft skills required for
         Directors

       - gives a deeper understanding of ideal candidates for the
         culture of the board

       - develops an understanding of the company's future
         Strategy

   (b) Position Specification Development;

       - guides research and entry into the market; "marketing
         piece"

   (c) Research and Identification;

       - comprehensive, global market scan to identify the best-
         qualified candidates

       - presentation of summary backgrounds, including:
         Employment history, Education, and Current public
         Directorships

       - includes candidates recommended by other stakeholders in
         the process

   (d) Prioritizing the Slate;

       - review of the priority candidate list "per category"
         (Chair, Audit etc.) with the client

       - priority candidates are contacted to evaluate their
         interest level and assess further qualifications

       - initially Assess I Discuss "fit" with board, future
         strategy, etc.

       - screening conducted for potential conflicts of interest
         or other limitations on candidates' ability to serve

   (e) Candidate Interviews;

       - interviews (ideally face to face) between our team and
         each candidate

       - both hard and soft skills evaluated during interviews

       - after interviews, we produce in-depth candidate
         presentations and assessments

   (f) Client Interviews; and

       - candidates deemed to be qualified through interviews with
         our team are introduced

       - assist in scheduling candidate interviews with the
         appropriate parties involved

   (g) Closing

       - once the board is ready to move forward with an offer, we
         conduct formal references

       - formal background checks and other services may be
         provided at your request

Heidrick & Struggles' fee will be:

   -- $520,000 (the "Engagement Fee") for the Board search, which
      amount will be payable in three installments. The Engagement
      Fee includes the recruitment of a board chair, audit
      committee chair and up to three non-executive directors;

   -- The Engagement Fee will be invoiced in three equal
      installments: $173,333.34 on the date of approval of this
      Engagement Letter by the Court (the "Effective Date"),
      $173,333.33 on May 15, 2014, and $173,333.33 on June 30,
      2014, without the need for further application or Court
      Approval;

   -- Should the Debtors recruit additional directors whom
      Heidrick & Struggles presented to the Debtors (more than
      five per Board) from this engagement, Heidrick & Struggles'
      fee will be $75,000 (in addition to the Engagement
      Fee) for each additional director recruited beyond the
      initial five for the Board;

   -- Should the Debtors meet and employ any full-time executives
      (non-Board positions) due to Heidrick & Struggles' efforts,
      Heidrick & Struggles will be compensated at its standard
      one-third of the first year's projected total salary/bonus
      compensation of each candidate employed, as described in a
      letter of employment. Projected total salary/bonus
      compensation includes base salary, target and sign-on
      bonuses;

   -- Heidrick & Struggles will be reimbursed for direct expenses.
      Direct expenses are reasonable, out-of-pocket and documented
      costs associated with the interviewing and selection process
      and with visits to the client location.  Monthly
      applications will be filed for reimbursement of these direct
      expenses;

   -- Heidrick & Struggles will file monthly applications for the
      payment of any additional fees and expenses.  Heidrick &
      Struggles will not be reimbursed for any indirect expenses.

Matthew C. Aiello, partner of Heidrick & Struggles, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

The Court for the District of Delaware was slated to hold a
hearing on the motion on Mar. 20, 2014, at 9:30 a.m.  Objections
were due Mar. 13, 2014.

Heidrick & Struggles can be reached at:

       Matthew C. Aiello
       2001 Pennsylvania Avenue NW, Ste. 800
       Washington, DC 20006-1821
       Tel: +1 (202) 331-4900
       Fax: +1 202 3314937

                   About Overseas Shipholding

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

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

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

Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton LLP, serve
as co-counsel to the official committee of unsecured creditors.
FTI Consulting, Inc., is the financial advisor and Houlihan Lokey
Capital, Inc., is the investment banker.


OVERSEAS SHIPHOLDING: Bankr. Judge Abstains From Proskauer Suit
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Proskauer Rose LLP, the law firm that once gave tax
advice to Overseas Shipholding Group Inc., succeeded in persuading
the bankruptcy court not to preside over the shipping line's legal
malpractice suit.

According to the report, OSG, one of the world's largest publicly
owned transporters of crude oil and petroleum products, filed the
lawsuit in November, contending Proskauer's faulty advice led to
hundreds of millions of dollars in unnecessary tax liability as
the consequence of an improperly structured credit agreement.

The firm moved to dismiss the suit, saying it was based on an
"irresponsible complaint replete with half-truths and material
omissions," the report said.

Rather than untangle the legal and factual arguments, U.S.
Bankruptcy Judge Peter J. Walsh in Delaware simply decided not to
hear the suit, a process known as abstention, the report related.

Mr. Rochelle explained that bankruptcy law allows a court to
abstain if the dispute involves state law. By abstaining, the
bankruptcy court never decides who is or isn't liable. Typically,
abstention means the plaintiff must refile the suit in another
court where there is jurisdiction.  By abstaining rather than
granting the motion to dismiss, Judge Walsh prevented OSG from
appealing, because a decision to abstain isn't appealable under
Section 1334 of the U.S. Judiciary Code, which governs abstention,
among other things.

The Bloomberg report said stock rose 27 cents to $5.97 on Feb. 4
in over-the-counter trading.  The $300 million in 8.125 percent
senior unsecured notes due 2018, to be reinstated under the plan,
traded at 2:08 p.m. on Feb. 4 for 117.125 cents on the dollar,
according to Trace, the bond-price reporting system of the
Financial Industry Regulatory Authority. They were worth about par
in November and sold for as little as 18.75 cents on the day of
bankruptcy.

                    About Overseas Shipholding

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

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

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

Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton LLP, serve
as co-counsel to the official committee of unsecured creditors.
FTI Consulting, Inc., is the financial advisor and Houlihan Lokey
Capital, Inc., is the investment banker.


PHI GROUP: Incurs $134,000 Loss in March 31 2012 Quarter
--------------------------------------------------------
PHI Group Inc. filed with the U.S. Securities and Exchange
Commission on Feb. 12, 2014, its quarterly report on Form 10-Q for
the period ended March 31, 2012.  The late-filed Form 10-Q shows
net loss of $134,218 on $180,000 of consulting and advisory fee
income for the three months ended March 31, 2012, as compared with
a net loss of $284,281 on $6,000 of consulting and advisory fee
income for the three months ended March 31, 2011.

For the nine months ended March 31, 2012, the Company reported a
net loss of $324,282 on $570,000 of consulting and advisory fee
income as compared with a net loss of $658,047 on $359,317 of
consulting and advisory fee income for the same period in 2011.

As of March 31, 2012, the Company had $2.49 million in total
assets, $10.19 million in total liabilities, and a $7.70 million
total stockholders' deficit.

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

                        http://is.gd/21JTf8

                          About PHI Group

Huntington Beach, Cal.-based PHI Group, Inc., through its wholly
owned and majority-owned subsidiaries, is engaged in a number of
business activities, the scope of which includes consulting and
merger and acquisition advisory services, real estate and
hospitality development, mining, natural resources, energy, and
investing in special situations.  The Company invests in various
business opportunities within its chosen scope of business,
provides financial consultancy and M&A advisory services to U.S.
and foreign companies, and acquires selective target companies
under special situations to create additional long-term value for
its shareholders.

In its auditors' report accompanying the consolidated financial
statements for the fiscal year ended June 30, 2011, Dave Banerjee
CPA, in Woodland Hills, Cal., expressed substantial doubt about
PHI Group's ability to continue as a going concern.  The
independent auditors noted that the Company has accumulated
deficit of $28,177,788 and net loss amounting $1,178,297 for the
year ended June 30, 2011.

The Company reported a net loss of $1.2 million for the fiscal
year ended June 30, 2011, compared with a net loss of $3.6 million
for the fiscal year ended June 30, 2010.


PLANDAI BIOTECHNOLOGY: Incurs $3.3-Mil. Net Loss in Dec. 31 Qtr.
----------------------------------------------------------------
Plandai Biotechnology, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $3.32 million on $13,187 of revenues for the three
months ended Dec. 31, 2013, as compared with a net loss of
$442,735 on $113,816 of revenues for the same period in 2012.

For the six months ended Dec. 31, 2013, the Company reported a net
loss of $4.04 million on $240,002 of revenues as compared with a
net loss of $927,062 on $249,903 of revenues for the six months
ended Dec. 31, 2012.

The Company's balance sheet at Dec. 31, 2013, showed $8.73 million
in total assets, $14.42 million in total liabilities and a $5.69
million deficit allocated to the Company.

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

                         http://is.gd/JYbPZZ

                            About Plandai

Based in Seattle, Washington, Plandai Biotechnology, Inc., through
its recent acquisition of Global Energy Solutions, Ltd., and its
subsidiaries, focuses on the farming of whole fruits, vegetables
and live plant material and the production of proprietary
functional foods and botanical extracts for the health and
wellness industry.  Its principle holdings consist of land, farms
and infrastructure in South Africa.

Plandai incurred a net loss of $2.96 million on $359,143 of
revenues for the year ended June 30, 2013, as compared with a net
loss of $3.83 million on $74,452 of revenues during the prior
fiscal year.

As reported by the TCR on Feb. 4, 2014,  Terry L. Johnson, CPA,
replaced Patrick Rodgers, CPA, P.A., as the Company's independent
accountant.

Patrick Rodgers, CPA, PA, in Altamonte Springs, Florida, 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 incurred losses since
inception, has a negative working capital balance at June 30,
2013, and has a retained deficit, which raises substantial doubt
about its ability to continue as a going concern.


PLEXTRONICS INC: Has Court Authority to Sell Assets to Solvay
-------------------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware authorized Plextronics, Inc., to sell substantially
all of its assets to Solvay America, Inc., the company's largest
shareholder and primary lender, for $32.6 million, which consists
of $8.5 million in cash and $24.1 million in secured debt.  The
Debtors did not receive any competing bids so an auction for the
assets was cancelled.

Judge Carey thumbed down objections that have not been withdrawn,
waived, resolved, or otherwise settled as announced to the Court
at the sale hearing or by stipulation filed with the Court,
including the objection raised by the United States Government, on
behalf of its agencies, the National Institute of Standards and
Technology, an operating unit of the Department of Commerce, and
the Department of Energy.  The U.S. Government complained that the
Motion because it contains provisions which are extremely
prejudicial to the rights of the government.

                       About Plextronics Inc.

Headquartered in Pittsburgh, Pennsylvania, Plextronics, Inc. --
http://www.plextronics.com-- specializes in conductive polymers
and printable formulations that enable advanced electronic
devices.  The company's develops customized inks to enhance the
performance of organic light emitting diodes (OLEDs) for next
generation displays and lighting applications, lithium ion
batteries, polymer metal capacitors, and emerging organic
electronic devices.

The privately held company was founded in 2002 as a spinout from
Carnegie Mellon University based upon conductive polymer
technology developed by Dr. Richard McCullough.

Plextronics, Inc. on Jan. 16, 2014, filed a Chapter 11 bankruptcy
petition (Bankr. D. Del. Case No. 14-10080) with plans to sell its
assets to Solvay America, Inc., absent higher and better offers.

The Debtor estimated assets and debt of $10 million to $50 million
as of the bankruptcy filing.

Campbell & Levine, LLC in Pittsburgh is serving as the
Plextronics' legal advisors.  New York-based Cowen and Company,
LLC is serving as its investment banker.


PLEXTRONICS INC: Has Authority to Employ Marbury as IP Counsel
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Plextronics, Inc., to employ Marbury Law Group as special counsel
for intellectual property matters, nunc pro tunc to the Petition
Date.

The Debtor holds approximately 280 patents and pending patent
applications representing approximately 50 unique families of
investors owned or controlled worldwide.  Marbury has provided
similar services to the Debtor in the past, and the Debtor values
Marbury's professional skills with respect to matters of
intellectual property law.

J. Steven Rutt, Esq., a partner at Marbury, tells the Court that
although Marbury was retained by the Debtor on Aug. 20, 2013, to
represent it in connection with its intellectual property needs,
including patent prosecution, counseling and contract review, he
first began working with the Debtor over nine years ago, while he
was still with the firm Foley & Lardner, LLP.

                       About Plextronics Inc.

Headquartered in Pittsburgh, Pennsylvania, Plextronics, Inc. --
http://www.plextronics.com-- specializes in conductive polymers
and printable formulations that enable advanced electronic
devices.  The company's develops customized inks to enhance the
performance of organic light emitting diodes (OLEDs) for next
generation displays and lighting applications, lithium ion
batteries, polymer metal capacitors, and emerging organic
electronic devices.

The privately held company was founded in 2002 as a spinout from
Carnegie Mellon University based upon conductive polymer
technology developed by Dr. Richard McCullough.

Plextronics, Inc. on Jan. 16, 2014, filed a Chapter 11 bankruptcy
petition (Bankr. D. Del. Case No. 14-10080) with plans to sell its
assets to Solvay America, Inc., absent higher and better offers.

The Debtor estimated assets and debt of $10 million to $50 million
as of the bankruptcy filing.

Campbell & Levine, LLC in Pittsburgh is serving as the
Plextronics' legal advisors.  New York-based Cowen and Company,
LLC is serving as its investment banker.


PLEXTRONICS INC: Can Hire Cowen and Company as Investment Banker
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Plextronics, Inc., to employ Cowen and Company, LLC, as investment
banker, nunc pro tunc to the Petition Date.

The Debtor agreed to pay Cowen these fees:

   1. Sale Transaction Fee

If a Sale Transaction is consummated, or a definitive agreement
with respect to a Sale Transaction is executed or the Bankruptcy
Court enters an order approving the confirmation of any Sale
Transaction, during the term of this Amended Agreement or during
the Residual Period, Cowen will be paid a Sale Transaction Fee,
payable in U.S. dollars from the proceeds of the Sale Transaction,
at the closing of a Sale Transaction equal to either (i) if the
Purchaser is any person other than Solvay North America, LLC and
its affiliates, the Sale Transaction Fee will be 2% of the
Aggregate Consideration or (ii) if the Purchaser is Solvay, the
Transaction Fee will be 1.25% of the Aggregate Consideration up to
a maximum of $ 1.4 million.

   2. Expenses

Whether or not a Sale Transaction is consummated, the Debtor
agrees to reimburse Cowen for all of Cowen's necessary and
reasonable out-of-pocket expenses incurred in connection with the
subject matter of the engagement up to $15,000.  In the event that
Cowen exceeds the Cap for work related to the process, Cowen will
notify the Company and request an increase to the Cap which will
not be unreasonably withheld.


                       About Plextronics Inc.

Headquartered in Pittsburgh, Pennsylvania, Plextronics, Inc. --
http://www.plextronics.com-- specializes in conductive polymers
and printable formulations that enable advanced electronic
devices.  The company's develops customized inks to enhance the
performance of organic light emitting diodes (OLEDs) for next
generation displays and lighting applications, lithium ion
batteries, polymer metal capacitors, and emerging organic
electronic devices.

The privately held company was founded in 2002 as a spinout from
Carnegie Mellon University based upon conductive polymer
technology developed by Dr. Richard McCullough.

Plextronics, Inc. on Jan. 16, 2014, filed a Chapter 11 bankruptcy
petition (Bankr. D. Del. Case No. 14-10080) with plans to sell its
assets to Solvay America, Inc., absent higher and better offers.

The Debtor estimated assets and debt of $10 million to $50 million
as of the bankruptcy filing.

Campbell & Levine, LLC in Pittsburgh is serving as the
Plextronics' legal advisors.  New York-based Cowen and Company,
LLC is serving as its investment banker.


PRIME TIME INT'L: Seeks Approval of First Day Motions
-----------------------------------------------------
Prime Time International Company and two subsidiaries have sought
bankruptcy protection amid ongoing litigation with the U.S.
Department of Agriculture over how its products are taxed and
after JPMorgan Chase Bank, N.A., refused to refinance its debt.

The company immediately filed various motions, including requests:

   -- for joint administration of the Chapter 11 cases.

   -- to extend the deadline to file their schedules of assets
      and liabilities.

   -- to maintain their existing bank accounts

   -- to use cash collateral.

   -- to pay prepetition wages to 73 employees.

   -- to maintain customer programs, of which $65,000 is unpaid
      under a rebates program and $70,000 is unpaid under a
      pre-payment program.

   -- to pay prepetition sales and use taxes, of which $350,000
      in excise taxes, use taxes and franchise taxes are unpaid
      as of the Petition Date.

   -- to prohibit utilities from discontinuing service (monthly
      cost for utility services is approximately $30,000).

   -- to maintain insurance policies.

                  About Prime Time International

Prime Time International Company, formerly known as Single Stick
Inc., manufactures and distributes cigarettes and little cigars.
PTIC has two wholly-owned subsidiaries: USA Tobacco, which
distributes PTIC's products, and 21st Century Brands, LLC, which
distributes non-tobacco consumer products.

Annual sales are $40 million and the company's products are in
100,000 convenience stores in North America.  The company has
direct accounts with each of the top 25 largest convenience store
distributors in the United States.

Prime Time and its two subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Ariz. Lead Case No. 14-03518) in Phoenix on
March 15, 2014.

The meeting of creditors is slated for April 15, 2014.

The Debtors have tapped Greenberg Traurig as attorneys, Odyssey
Capital Group, LLC, as financial advisors, and Schian Walker,
P.L.C., as conflicts counsel.

The Debtors disclosed $26.78 million in total assets and
$23.37 million in total liabilities as of Jan. 31, 2014.


PRIME TIME INT'L: Asks for Approval to Use Cash Collateral
----------------------------------------------------------
Prime Time International Company and two subsidiaries ask the
bankruptcy court for approval to use cash collateral.

On the Petition Date, the Debtors owed $3,503,704 as a result of
loans provided by JPMorgan Chase Bank, N.A.

The Debtors say that the availability of sufficient working
capital, liquidity, and other financial accommodations are vital
to their ability to continue their operations.  The Debtors say
they do not have sufficient available sources of working capital
and financing to carry on the normal course operation of their
businesses without use of the cash collateral.

Chase will be granted adequate protection in the form of (1)
payments in cash of all interest due at the contractual non-
default rate, and (2) replacement lien on assets acquired by the
Debtors after the Petition Date.

                  About Prime Time International

Prime Time International Company, formerly known as Single Stick
Inc., manufactures and distributes cigarettes and little cigars.
PTIC has two wholly-owned subsidiaries: USA Tobacco, which
distributes PTIC's products, and 21st Century Brands, LLC, which
distributes non-tobacco consumer products.

Annual sales are $40 million and the company's products are in
100,000 convenience stores in North America.  The company has
direct accounts with each of the top 25 largest convenience store
distributors in the United States.

Prime Time and its two subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Ariz. Lead Case No. 14-03518) in Phoenix on
March 15, 2014.

The meeting of creditors is slated for April 15, 2014.

The Debtors have tapped Greenberg Traurig as attorneys, Odyssey
Capital Group, LLC, as financial advisors, and Schian Walker,
P.L.C., as conflicts counsel.

The Debtors disclosed $26.78 million in total assets and
$23.37 million in total liabilities as of Jan. 31, 2014.


PRIME TIME INT'L: Proposes Greenberg Traurig as Counsel
-------------------------------------------------------
Prime Time International Company and two subsidiaries ask for
approval to hire the law firm of Greenberg Traurig, LLP, as
counsel to the Debtors, nunc pro tunc as of the Petition Date.

David D. Cleary, a shareholder at the firm, attests that Greenberg
Traurig (a) does not hold or represent any interest adverse to the
Debtors or their chapter 11 estates, their creditors, or any other
party-in-interest in connection with the Chapter 11 cases, and (b)
is a "disinterested person" as that term is defined in section
101(14) of the Bankruptcy Code.

Greenberg Traurig has advised the Debtors that the current hourly
rates applicable to the principal attorneys and paralegals
proposed to represent the Debtors are $535 to $290:

               Professional                Rate Per Hour
               ------------                -------------
               David Cleary                    $535
               Matthew Hinker                  $450
               Doreen Cusumano (Paralegal)     $290

Other attorneys and paralegals will render services to the Debtors
as needed. Generally

Other attorneys and paralegals will render services to the Debtors
as needed. Generally, reenberg Traurig's hourly rates are in these
ranges:

            Professional                  Rate Per Hour
            ------------                  -------------
            Shareholders                  $270 to $1,150
            Of Counsel                    $350 to $1,115
            Associates                    $150 to $735
            Legal Assistants/Paralegals    $95 to $360

Mr. Cleary, Mr. Hinker and Ms. Cusumano have discounted their
rates for the Debtors.  Mr. Cleary's standard hourly rate is $595;
Mr. Hinker's standard hourly rate is $560; Ms. Cusumano's standard
hourly rate is $345.

Within the 90 days prior to the Petition Date, Greenberg Traurig
received from the Debtors various advance payment retainers
totaling $200,000, of which $81,850, was applied prior to the
Petition Date in satisfaction of fees and expenses incurred by
Greenberg Traurig on behalf of the Debtors.

                  About Prime Time International

Prime Time International Company, formerly known as Single Stick
Inc., manufactures and distributes cigarettes and little cigars.
PTIC has two wholly-owned subsidiaries: USA Tobacco, which
distributes PTIC's products, and 21st Century Brands, LLC, which
distributes non-tobacco consumer products.

Annual sales are $40 million and the company's products are in
100,000 convenience stores in North America.  The company has
direct accounts with each of the top 25 largest convenience store
distributors in the United States.

Prime Time and its two subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Ariz. Lead Case No. 14-03518) in Phoenix on
March 15, 2014.

The meeting of creditors is slated for April 15, 2014.

The Debtors have tapped Greenberg Traurig as attorneys, Odyssey
Capital Group, LLC, as financial advisors, and Schian Walker,
P.L.C., as conflicts counsel.

The Debtors disclosed $26.78 million in total assets and
$23.37 million in total liabilities as of Jan. 31, 2014.


PRIME TIME INT'L: Taps Odyssey Capital as Financial Advisor
-----------------------------------------------------------
Prime Time International Company and two subsidiaries ask for
approval to hire Odyssey Capital Group, LLC, as financial advisor,
nunc pro tunc as of the Petition Date.

Odyssey will advise the Debtors in a variety of matters,
including, as reasonably requested:

   a. to the extent feasible, familiarize itself with the
      business, operations, properties, financial condition,
      secured and unsecured debt, and prospects of the Company;

   b. review and analyze the business plans and financial
      projections prepared by the Company, including, but not
      limited to, testing assumptions and comparing those
      assumptions to historical Company and industry trends; and

   c. review and analyze the Company's liquidity position and
      assist management in identifying areas of improvement and
      means to preserve the Company's liquidity.

Odyssey's compensation for services rendered under the engagement
letter will consist of hourly fees, the initial maximum fee, or
the maximum fee:

    a. The fees payable to Odyssey are charged at these rates:

      i. Managing Directors - $525 per hour;

     ii. Directors - $395 per hour; and

    iii. Associates - $295 per hour

    b. In the event the hourly fees exceed $50,000 per month
       during the first two calendar months, Odyssey will charge
       a fee of $50,000 in lieu of the hourly fees.

    c. In the event the hourly fees exceed $30,000 per month
       after the initial maximum fee period has expired, Odyssey
       shall charge a fee of $30,000 in lieu of the hourly fees.

    d. In the event the hourly fees for the month exceed
       (i) the initial maximum fee during the initial maximum
       fee period or (ii) the maximum fee after the initial
       maximum fee period has expired, Odyssey will have the
       right to apply the excess hourly fees to the next invoice,
       provided that the total invoice will never exceed the
       initial maximum fee or the maximum fee.

    e. In addition to any fees payable by the Company to Odyssey,
       the company will reimburse Odyssey on a monthly basis for
       its reasonable travel and other out-of-pocket expenses.

    f. The Company agrees to remit payment equal to (a) the
       reimbursements plus (b) the lesser of (i) hourly fees,
       (ii) the initial maximum fee, or (iii) the maximum fee
       within 15 days of the end of the calendar month.

Matt Foster, director of the firm, attests that Odyssey is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                  About Prime Time International

Prime Time International Company, formerly known as Single Stick
Inc., manufactures and distributes cigarettes and little cigars.
PTIC has two wholly-owned subsidiaries: USA Tobacco, which
distributes PTIC's products, and 21st Century Brands, LLC, which
distributes non-tobacco consumer products.

Annual sales are $40 million and the company's products are in
100,000 convenience stores in North America.  The company has
direct accounts with each of the top 25 largest convenience store
distributors in the United States.

Prime Time and its two subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Ariz. Lead Case No. 14-03518) in Phoenix on
March 15, 2014.

The meeting of creditors is slated for April 15, 2014.

The Debtors have tapped Greenberg Traurig as attorneys, Odyssey
Capital Group, LLC, as financial advisors, and Schian Walker,
P.L.C., as conflicts counsel.

The Debtors disclosed $26.78 million in total assets and
$23.37 million in total liabilities as of Jan. 31, 2014.


PROVIDENT COMMUNITY: To Be Acquired by Park Sterling for $6.5MM
---------------------------------------------------------------
Park Sterling Corporation, the holding company for Park Sterling
Bank, and Provident Community Bancshares, Inc., the holding
company for Provident Community Bank, N.A., signed a definitive
merger agreement under which Park Sterling will acquire Provident
Community for a total transaction value of approximately $6.5
million.

Merger consideration will include: (i) $0.78 per share, or
approximately $1.4 million, in cash to common stockholders for all
of the outstanding common stock, and (ii) $550 per share, or
approximately $5.1 million, in cash to the United States
Department of the Treasury for all of the outstanding Fixed Rate
Cumulative Perpetual Preferred Stock, Series A.  The purchase
price for the Series A Preferred Stock represents a 45 percent, or
$4.2 million, discount from its face value of $1,000 per share.

Upon completion of the transaction, the combined company will have
approximately $2.3 billion in total assets, $1.9 billion in total
deposits, $1.4 billion in total loans, and a network of 54 offices
in the Carolinas, Virginia and North Georgia.  The merger will
strengthen Park Sterling's position as the largest community bank
in the Charlotte-Concord-Gastonia MSA, which includes Rock Hill,
Provident Community's home market, according to the most recently
available deposit market share data, with pro forma growth from 17
to 20 branches and from $876 million to $929 million in total
deposits (source: SNL Financial; June 30, 2013).

The merger agreement has been unanimously approved by the board of
directors of each company.  Closing of the transaction, which is
expected to occur in the second quarter of 2014, is subject to
customary conditions, including approval by Provident Community's
common stockholders, completion of the purchase of the Series A
Preferred Stock from Treasury and receipt of regulatory approval.
At closing, Provident Community will merge with and into Park
Sterling and, as soon as practicable following the closing, it is
anticipated that Provident Community Bank, N.A. will merge with
and into Park Sterling Bank.

"Our proposed merger with Provident Community advances our vision
to create a regional community bank in the Carolinas and Virginia
and strengthens our leading position in the attractive Charlotte
metro market.  Additionally, the partnership improves our branch
density in South Carolina's Upstate and Midlands regions, provides
an attractive source of core deposits to help fund organic loan
growth, and creates efficiencies which offer an attractive
financial return to shareholders," said James C. Cherry, chief
executive officer of Park Sterling.  "Each of these outcomes is
desirable individually.  Together, they create a very compelling
transaction.  We are pleased to partner with Dwight Neese and his
team at Provident Community and look forward to working together
to continue serving their customers and communities."

Dwight V. Neese, president and chief executive officer of
Provident Community, who will remain at the combined company as a
senior market executive, commented, "We are excited to enter into
this partnership with Park Sterling and welcome the opportunity to
help bring the combined company's strong balance sheet and broad
array of products and service offerings to our customers."
Keefe, Bruyette & Woods, Inc. served as financial advisor to Park
Sterling, and Sandler O'Neill + Partners, L.P. served as financial
advisor to Provident Community.  McGuireWoods LLP served as
outside legal counsel to Park Sterling, while Kilpatrick Townsend
& Stockton LLP served as outside legal counsel to Provident
Community.

A copy of the Agreement and Plan of Merger is available at:

                        http://is.gd/Wm8jtG

Additional information is available for free at:

                        http://is.gd/5AzFNl

                     About Provident Community

Rock Hill, South Carolina-based Provident Community Bancshares,
Inc., is the bank holding company for Provident Community Bank,
N.A.  Provident Community Bancshares has no material assets or
liabilities other than its investment in the Bank.  Provident
Community Bancshares' business activity primarily consists of
directing the activities of the Bank.

The Bank's operations are conducted through its main office in
Rock Hill, South Carolina and seven full-service banking centers,
all of which are located in the upstate area of South Carolina.
The Bank is regulated by the Office of the Comptroller of the
Currency, is a member of the Federal Home Loan Bank of Atlanta and
its deposits are insured up to applicable limits by the Federal
Deposit Insurance Corporation.  Provident Community Bancshares is
subject to regulation by the Federal Reserve Board.

Provident Community incurred a net loss to common shareholders of
$598,000 in 2012, a net loss to common shareholders of $665,000 in
2011 and a net loss to common shareholders of $14.28 million in
2010.  The Company's balance sheet at Sept. 30, 2013, showed
$332.63 million in total assets, $329.61 million in total
liabilities and $3.02 million in total shareholders' equity.

                           Consent Order

On Dec. 21, 2010, Provident Community Bank, N.A. entered into a
stipulation and consent to the issuance of a consent order with
the Office of the Comptroller of the Currency.

At Dec. 31, 2011, the Bank met each of the capital requirements
required by regulations, but was not in compliance with the
capital requirements imposed by the OCC in its Consent order.

The Bank is required by the consent order to maintain Tier 1
capital at least equal to 8% of adjusted total assets and total
capital of at least 12% of risk-weighted assets.  However, so long
as the Bank is subject to the enforcement action executed with the
OCC on Dec. 21, 2010, it will not be deemed to be well-capitalized
even if it maintains the minimum capital ratios to be well-
capitalized.  At Dec. 31, 2011, the Bank did not meet the higher
capital requirements required by the consent order and is
evaluating alternatives to increase capital.

At December 31, 2012, the Bank met each of the capital
requirements required by regulations, but was not in compliance
with the capital requirements imposed by the OCC in its Consent
order.


PUERTO RICO: Restructuring Bill Creates Divide
----------------------------------------------
Lisa Allen, writing for The Deal, reported that the president and
vice president of Puerto Rico's Senate Treasury and Public Finance
Committee have filed a bill to create a process for restructuring
the commonwealth's public corporations, but the island's Treasury
Department and federal banking arm have distanced themselves from
the effort.

According to the report, trading in the bonds of Puerto Rico
Electric Power Authority, or PREPA, a public power corporation
with $8.8 billion in outstanding debt, suggests that the lack of
consensus about the legislation within the commonwealth's
government is causing some investor jitters.

"There were a lot of PREPA bonds that were out for the bid" on
March 14, according to Jon Schotz, a managing partner at Kayne
Saybrook Municipal Opportunity Funds, the report cited.  "The bill
created uncertainty for PREPA holders."

Meanwhile, in a report, municipal credit research firm Municipal
Market Advisors mentioned that the authority's bonds traded for 70
cents or so on the dollar on March 14 and noted, "PREPA is the
most obvious target within the bill's rhetoric," the report
related.


QUANTUM FOODS: Asset Purchase Agreement Gets Court Approval
-----------------------------------------------------------
Quantum Foods, LLC on March 19 disclosed that it has received
bankruptcy court approval of its entry into a fully-executed Asset
Purchase Agreement with Raging Bull Acquisition Company LLC.  The
approved agreement provides for a substantial increase in the
value paid for the business of at least $6.5 million over the
previous stalking horse terms.

Raging Bull, a subsidiary of funds managed by Oaktree Capital
Management L.P., whose portfolio of companies also includes
AdvancePierre Foods, Inc., agreed to a cash purchase price of $54
million and the assumption of up to $30.3 million in liabilities.
Closing of the sale is scheduled for April 23, 2014.

As part of the planned sale process through Chapter 11, the
company will continue to solicit additional competing offers for
Quantum Foods to ensure it achieves the highest and best offer for
its business.  The auction will take place on April 17, 2014, with
court approval scheduled on April 21, 2014 and closing set for
April 23, 2014.

In addition, a secured commitment for $60 million in debtor-in-
possession (DIP) financing was approved from its current lending
group led by Crystal Financial LLC to fund its ongoing operations.

Quantum Foods filed a voluntary Chapter 11 petition in the
District of Delaware on February 18, 2014 to obtain the essential
financing necessary to preserve continuity, to the greatest extent
possible, for its customers, employees and business partners.

With DIP financing approval, the company will continue purchasing
goods and services from its suppliers and to pay suppliers in the
normal course for all goods and services delivered on or after the
February 18, 2014 bankruptcy filings.

Quantum Foods is being advised in its restructuring by Winston &
Strawn, City Capital Advisors, LLC and FTI Consulting, Inc.
Information about the Company's Chapter 11 case can be accessed at
http://www.bmcgroup.com/restructuring

                        About Quantum Foods

Founded in 1990 and headquartered in Bolingbrook, Illinois,
Quantum Foods, LLC -- http://www.quantumfoods.com-- provides
protein products made from beef, poultry and pork.

Quantum Foods and its affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 14-10318) on Feb. 18, 2014, to
facilitate the sale of substantially all their business to
CTI Foods Holding Co., LLC.

The Debtors' primary secured indebtedness totals $50.2 million,
owing to lenders led by Crystal Financial, LLC, as administrative
and collateral agent.

Quantum Foods is being advised in its restructuring by Winston &
Strawn, City Capital Advisors, LLC and FTI Consulting, Inc.
Young, Conaway, Stargatt & Taylor, LLP, is the local counsel.
City Capital Advisors is the investment banker.  BMC Group is the
claims and notice agent.


QUIZNOS: Reorg Sees Lawsuit Over 2012 Recap Misrepresentations
--------------------------------------------------------------
Alan Zimmerman, writing for Forbes, reported that Quiznos'
proposed reorganization plan filed with the bankruptcy court in
Wilmington, Del., provides for holders of claims under the
company's first-lien credit facility to receive pro rata shares of
an amended $200 million first-lien credit facility and 100% of the
reorganized company's equity, subject to dilution.

The first-lien credit facility has $444.7 million outstanding,
according to court filings, the report related.  The amended $200
million term facility would have a five-year term, and carry
interest at 15% for the first 18 months, in-kind, and 10%
thereafter, in cash, according to a proposed term sheet filed with
the bankruptcy court.

Second-lien debt of $173.8 million is treated as unsecured debt
under the plan, with holders entitled to share in the proceeds of
litigation against certain of the company's prior managers,
directors, and owners, arising out of the company's 2012
restructuring, the report further related.  Second-lien holders
would have the right to opt for an equity recovery as opposed to
litigation proceeds.

According to the company's proposed disclosure statement, the two
largest holders of the second-lien debt are Avenue Capital and
Fortress Capital, who acquired their stakes in the 2012
restructuring, the report said.  Both are key players in the
planned litigation.

Under the company's proposed reorganization plan, a group of
first-lien lenders who are parties to a plan-support agreement
would provide the company with a $15 million DIP, with a 120-day
term and bearing interest at 15% per annum, to fund operations
during the Chapter 11 case, the report added.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that Quiznos will be in and out of Chapter 11
reorganization within six weeks if the franchisor of some 2,100
sandwich stores can adhere to the schedule laid down on March 17
by the U.S. Bankruptcy Court in Delaware.

U.S. Bankruptcy Judge Peter Walsh scheduled a dual-purpose hearing
on April 25 for Quiznos to complete the reorganization, Mr.
Rochelle said.  During that hearing, Judge Walsh will determine
whether disclosure materials used before bankruptcy contained
adequate information so creditors could vote intelligently, Mr.
Rochelle said.  Then, Judge Walsh will decide if the plan meets
technical requirements of bankruptcy law and can be confirmed.
Objections to the Disclosure Statement and Plan are due April 16.

                          About Quiznos

Denver-based Quiznos -- http://www.quiznos.com-- is a chain
designed for today's busy consumers who are looking for a high
quality, tasty, freshly prepared alternative to traditional fast-
food restaurants.  With locations in 50 states and 30 countries,
Quiznos is one of the world's premier quick-service restaurant
chains and pioneer of the toasted sandwich; Quiznos restaurants
offer creative, chef-created sandwiches and salads using premium
ingredients.  Quiznos was founded in 1981 by chefs who discovered
that toasting brought out the best in every sandwich ingredient.

QCE Finance LLC and its affiliates sought protection under Chapter
11 of the Bankruptcy Code on March 14, 2014.  The lead case is QCE
Finance LLC (Case No. 14-10543, Bankr. D.Del.).  The case is
assigned to Judge Peter J. Walsh.

The Debtors' lead counsel are Ira S. Dizengoff, Esq., Philip C.
Dublin, Esq., Jason P. Rubin, Esq., and Kristine G. Manoukian,
Esq., at AKIN GUMP STRAUSS HAUER & FELD LLP, in New York.  The
Debtors' local counsel is Mark D. Collins, Esq., and Amanda
Steele, Esq., at RICHARDS, LAYTON & FINGER, P.A., in Wilmington,
Delaware.  The Debtors' investment banker and financial advisor is
Matthew J. Hart of LAZARD FRERES & CO. LLC.  Paul Ruh, Mark A.
Roberts, and Jonathan Tibus of Alvarez & Marsal serves as the
Debtors' restructuring advisors.  Prime Clerk LLC serves as the
Debtors' claims and noticing agent.


REAL TIME: Defaults on Five-Year Convertible Debentures
-------------------------------------------------------
Terry Matthews, President and CEO of Real Time Measurements Inc.,
on March 19 disclosed that its financial statements for the years
ended 2011, 2012, and 2013 have been completed and it is currently
completing its 2014 financial statements for the year ended
January 31, 2014.  Upon completion of the 2014 statements, which
is expect to occur in the second or third quarter of 2014, the
Company anticipates filing all required financial statements and
accompanying Management Discussions and Analyses along with other
relevant material and fees as required in order to return to full
trading status with the securities commissions in due course.

                 2008 and 2011 Debenture Updates

The Company does not currently have the financial resources to
payout the $830,000 in principal, plus accrued interest on the
five-year convertible debentures which matured on various dates
over the past 12 months.  The debentures are in default for
failure to pay interest to the debenture holders.

The debentures, which are unsecured, bear interest at 15% per
annum, payable quarterly, and mature five years from the date of
issue.  The debentures were issued in three tranches; 1) $230,000
on May 10, 2008, 2) $370,000 on May 30, 2008 and c) $230,000 on
June 20, 2008.  The debentures matured on May 9, 2013, May 29,
2013, and June 19, 2013, respectively.  They are convertible, at
the option of the holder, into common shares of the Company at a
price of $0.15 per share.

The Company also announces it will renegotiate the terms of the
$500,000 Secured Debenture, which was issued pursuant to a private
placement which closed on February 2, 2011, with the holders
thereof.  Pursuant to the terms of the Secured Debenture, all
amounts owing to debenture holders became payable in one lump sum
on the date of activation of the Irrevocable Letter of Credit
pursuant to completion of the South Oil Company (Iraq) contract
85-07-3305 (refer to press release dated May 31, 2010 for
details).  The Company has been negotiating details of the final
contract for several years, however management of the Company
feels that a definitive agreement will never be reached.  The
Company is currently consulting with its legal counsel to
determine if its deposits can be recovered.

                           Next Steps

The Corporation intends to commence immediate discussions with the
holders of secured and unsecured debentures to amend the terms of
and extend the maturity date of the debentures.

The Company will also continue its efforts to raise additional
equity to pay the current interest obligations, fund its operation
and re-finance other outstanding obligations or to seek to enter
into another transaction in order to seek to maximize value for
all stakeholders.  Upon completion of filing all outstanding
continuous disclosure filings, the Company may consider selling
all or substantially all assets and evaluating other opportunities
to create value.

Further details about the debt restructuring will be announced
once definitive terms are reached with the debenture holders.
Investors are cautioned however that there is no certainty the
Company's debt will be restructured or that an arrangement will be
reached with debenture holders.

The Company will remain on the NEX Exchange until the Company once
again meets the TSX Venture Exchange minimum listing requirements.

The Company wishes to express its thanks to all shareholders for
their support and patience over the past several years.

Real Time Measurements is a Canadian oil and gas technology
development company that designs, builds and sells equipment and
provides services to oil and gas companies in various parts of the
world.  The company uses innovative applications of recent
technological developments to solve selected oil and gas upstream
measurement problems in more efficient ways.  The Company's
primary business activity revolves around the commercial
development of premium quality sensors and data gathering systems
which are used primarily in oil and gas wells.


ROCK SPRINGS: Case Summary & Largest Unsecured Creditors
--------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                    Case No.
     ------                                    --------
     Rock Springs Mineral Processing           14-20198
     12050 Bucknum Road
     Casper, WY 82604

     Rock Springs Properties, Inc.             14-20200
     12050 Bucknum Road
     Casper, WY 82604

Chapter 11 Petition Date: March 19, 2014

Court: United States Bankruptcy Court
       District of Wyoming (Cheyenne)

Judge: Hon. Peter J. McNiff

Debtors' Counsel: Bradley T Hunsicker, Esq.
                  WINSHIP & WINSHIP, P.C.
                  100 N Center, 6th Floor
                  Casper, WY 82602
                  Tel: 307-234-8991
                  Fax: 307-234-1116
                  Email: brad@winshipandwinship.com

                                  Total        Total
                                 Assets     Liabilities
                              -----------   -----------
Rock Springs Mineral          $3.43MM       $49.13MM
Rock Springs Properties       $0            $45.27MM

The petitions were signed by Gus Blass III, acting chairman.

A list of Rock Springs Mineral's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/wyb14-20198.pdf

A list of Rock Springs Properties's two largest unsecured
creditors is available for free at:

           http://bankrupt.com/misc/wyb14-20200.pdf


SAN DIEGO OPERA: To Cease Operations After 2014 Season
------------------------------------------------------
The San Diego Opera (Opera) will wind down operations upon the
conclusion of its final performance of the 2014 Season on
April 13, according to Opera General & Artistic Director, CEO
Ian D. Campbell.

"After nearly 50 years as a San Diego cultural cornerstone
providing world-class performances, we saw we faced an
insurmountable financial hurdle going forward," Mr. Campbell
explained.  "We had a choice of winding down with dignity and
grace, making every effort to fulfill our financial obligations,
or inevitably entering bankruptcy, as have several other opera
companies.

"Our Board voted [Wednes]day to take the first choice.  We will
start winding down operations after the last performance of
Don Quixote on Sunday, April 13," he added.  "After that, it will
take an indeterminate period of time to complete that process."

Board Chair Karen S. Cohn described it as a heart-wrenching, but
unavoidable decision.  "After 28 consecutive years of balanced
budgets, it was clear that we could not continue.  In spite of
excellent financial management, the Opera faced increasingly
higher ticket-sale and fund-raising hurdles."

The Opera, ranked among the top 10 opera companies in the nation
by Opera America, and one of 13 Cornerstone Arts Organizations by
the James Irving Foundation, exemplified product quality.  The U-T
San Diego arts writer James Chute recently wrote, "If you had to
identify a single opera that embodied the values and aspirations
of the San Diego Opera, you'd have to point to its exceptional
production of Verdi's A Masked Ball."

But both the patron base and donor base for opera companies are
diminishing.  San Diego Opera is not an isolated example.  Other
opera companies that have gone out of business include the New
York City Opera, Opera Boston, Opera Cleveland, Baltimore Opera,
San Antonio Opera and, closer to home, Lyric Opera San Diego and
Opera Pacific in Orange County, CA.

The Opera will stage one performance of Verdi's Requiem March 20,
and four performances of Massenet's Don Quixote April 5, 8, 11 and
13 before ceasing operations.

"Although it is a sad day for San Diego culturally, we have to
thank everyone who supported us for nearly 50 years," Mr. Campbell
added.  "It is better to go out with dignity, on a high note with
heads held high than to slip into the night, leaving creditors and
community in the lurch."

The Opera originated as the San Diego Opera Guild in 1950.  The
San Diego Opera Association was incorporated in 1965, and current
General & Artistic Director, CEO Ian D. Campbell was hired from
the Metropolitan Opera in 1983.


SCRUB ISLAND: To File Consensual Plan by March 19
-------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Scrub Island Resort, Spa & Marina in the British
Virgin Islands is near agreement on a Chapter 11 plan ending
disputes with secured lender FirstBank Puerto Rico, the resort's
chief antagonist.

According to the report, immediately after the resort's Chapter 11
filing in November, the bank sought dismissal. Owed about $120
million, the bank failed and found itself saddled with an
injunction barring any further foreclosure efforts or litigation
outside of bankruptcy court.  The resort took the bank to task for
proceeding with a receivership in the British Virgin Islands, the
report related.  Scrub Island's owner had filed under Chapter 11
in Tampa, Florida, to halt the receivership.

Court papers describe "very mature" discussions with a third party
who would become the majority owner, contribute cash and
restructure the bank debt consensually, the report said.  To
maintain the status quo, Santurce, Puerto Rico-based  FirstBank
and the resort agreed that the bank won't sell its claim,
negotiate with anyone else or continue litigation, provided the
resort files a Chapter 11 plan by March 19.

The bankruptcy judge has approved the so-called standstill
agreement.

                         About Scrub Island

Scrub Island Development Group Ltd., the owner of a British Virgin
Islands luxury resort, and its affiliate, Scrub Island
Construction Limited, sought bankruptcy protection (Bankr. M.D.
Fla. Case Nos. 13-15285 and 13-15286) on Nov. 19, 2013, to end a
receivership Scrub Island claims was secretly put in place by its
lender.  The bankruptcy case is assigned to Judge Michael G.
Williamson.

The 230-acre resort operates as a Marriott Autograph Collection
property.  It has 52 rooms and suites, a spa and a 55-slip marina.

Scrub Island Development Group scheduled $125,569,235 in total
assets and $130,695,731 in total liabilities.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the Debtor's prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Official Committee of Unsecured Creditors appointed in Scrub
Island's cases has retained Robert B. Glenn, Esq., Edwin G. Rice,
Esq., and Victoria D. Critchlow, Esq., at Glenn Rasmussen, P.A.,
as general counsel.


SEANERGY MARITIME: Has Deal to Complete Restructuring Plan
----------------------------------------------------------
Seanergy Maritime Holdings Corp. has entered into a delivery and
settlement agreement with its remaining lender to unwind its final
credit facility.  Under this agreement, the Company will sell its
four vessels to a nominee of the lender in full satisfaction of
the underlying loan.  The four vessels are the bulk carriers M/V
Bremen Max, M/V Hamburg Max, M/V Davakis G and M/V Delos Ranger.

Upon the closing of the transaction, approximately $145 million of
outstanding debt and accrued interest will be discharged and the
Company's guarantee will be fully released.

After giving effect to the transaction, the overall indebtedness
of the Seanergy group of companies will be extinguished.  The
agreement is subject to the standard closing process for the sale
of the vessels and is expected to close by the end of the first
quarter.

The Company further announced that the Nasdaq Hearings Panel has
granted the Company's request for continued listing on the Nasdaq
Stock Market through April 28, 2014, to allow it to regain
compliance with the Nasdaq minimum shareholders' equity
requirement.  Seanergy is evaluating available options to resolve
the deficiency and regain compliance in accordance with the
Nasdaq's requirement.

Stamatis Tsantanis, the Company's chief executive officer, stated:
"We are very pleased to have reached agreement with our final
lender to complete our financial restructuring plan after a long
and demanding process.  Since the beginning of 2012, in a
challenging market environment, we have managed to extinguish $346
million of debt and completely transforming our balance sheet.  We
expect that the Company will be in a substantially stronger
position to pursue future growth through accretive transactions.

Turning to the Company's listing with Nasdaq, we are pleased to
announce that we were granted an approval for continued listing on
the Nasdaq Stock Market until April 28, 2014.  By that time we
expect to be in position to meet Nasdaq's requirements and remain
listed in order to proceed with our plan to grow the Company."

                            About Seanergy

Athens, Greece-based Seanergy Maritime Holdings Corp. is an
international company providing worldwide seaborne transportation
of dry bulk commodities.  The Company owns and operates a fleet
of seven dry bulk vessels that consists of three Handysize, two
Supramax and two Panamax vessels.  Its fleet carries a variety of
dry bulk commodities, including coal, iron ore, and grains, as
well as bauxite, phosphate, fertilizer and steel products.

In its audit report on the consolidated financial statements for
the year ended Dec. 31, 2012, Ernst & Young (Hellas) Certified
Auditors Accountants S.A., in Athens, Greece, expressed
substantial doubt about Seanergy Maritime's ability to continue
as a going concern.  The independent auditors noted that the
Company has not complied with the principal and interest
repayment schedule and with certain covenants of its loan
agreements, which in turn gives the lenders the right to call the
debt.  "In addition, the Company has a working capital deficit,
recurring losses from operations, accumulated deficit and
inability to generate sufficient cash flow to meet its
obligations and sustain its operations."

The Company reported a net loss of US$193.8 million on US$55.6
million of net vessel revenue in 2012, compared with a net loss
of US$197.8 million on US$104.1 million of net vessel revenue in
2011.  The Company's balance sheet at June 30, 2013, showed $78.70
million in total assets, $194.01 million in total liabilities and
a $115.31 million total deficit.


SECUREALERT INC: Safety Invest Stake at 19.3% as of Feb. 5
----------------------------------------------------------
In a Schedule 13D filed with the U.S. Securities and Exchange
Commission, Safety Invest S.A. acting in the name and on behalf of
its compartment "Secure I" disclosed that as of Feb. 5, 2014, it
beneficially owned 1,890,697 shares of common stock of SecureAlert
Inc. representing 19.3 percent of the shares outstanding.  A copy
of the regulatory filing is available for free at:

                        http://is.gd/u5IjDa

                         About SecureAlert

Sandy, Utah-based SecureAlert, Inc., markets and deploys offender
management programs, combining patented GPS tracking technologies,
fulltime 24/7/365 intervention-based monitoring capabilities and
case management services.

SecureAlert incurred a net loss attributable to the Company's
common stockholders of $18.95 million for the year ended Sept. 30,
2013, following a net loss attributable to the Company's common
stockholders of $19.93 million for the fiscal year ended Sept. 30,
2012.

As of Dec. 31, 2013, the Company had $28.57 million in total
assets, $5.72 million in total liabilities and $22.84 million in
total equity.

Hansen, Barnett & Maxwell, P.C., in Salt Lake City, Utah, 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 incurred losses, negative cash
flows from operating activities, notes payable in default and has
an accumulated deficit.  These conditions raise substantial doubt
about its ability to continue as a going concern.


SOLAR POWER: SPI Solar and KDC Solar Jointly Owns Mountain Creek
----------------------------------------------------------------
SPI Solar ("SPI")(Solar Power Inc.) and KDC Solar have agreed to
jointly develop and own the Mountain Creek solar project in Vernon
, New Jersey.  The agreement, which also entails project
administration requirements, enables both companies to move
forward in completing the project, which calls for the design,
development and build-out of multiple solar energy facilities at
the Mountain Creek Resort in Vernon, New Jersey.

"The solar industry has adapted to changing demand and financing
conditions, and SPI Solar is working on developing a strategy to
evolve its business model in further downstream control with our
long-term partner, KDC Solar," said Charlotte Xi, president and
global chief operating officer and interim chief financial
officer.

"We are excited to continue to partner with SPI Solar on this
important project," said Alan Epstein, president and chief
operating officer of KDC Solar.  "KDC Solar and SPI have enjoyed a
solid working relationship while navigating changing conditions
within our industry, and we look forward to examining other joint
projects where we may be able to leverage each other's strengths
in capturing additional opportunities in the solar market."

In addition, both companies have also agreed to execute a project
administration agreement covering the performance of services for
the Mountain Creek project by SPI.

On Dec. 26, 2013, Solar Power entered into an Exchange and Release
Agreement with KDC Solar Mountain Creek Parent LLC and KDC Solar B
LLC.  Under the Agreement, the Company agreed to exchange a credit
balance of $15,035,693 due to the Company from KDC Solar and KDC
Solar B under the Engineering, Procurement and Construction
Agreement for construction of a 4.55MW photovoltaic solar
electricity power project located in Mountain Creek, New Jersey
for a 64.50 percent ownership interest in KDC Solar.  Under the
Second Amended and Restated Operating Agreement for KDC Solar
dated Feb. 18, 2014, KDC Solar B, as managing member of KDC Solar,
will cause KDC Solar to make distributions to its members in
accordance with each member's ownership interest until Dec. 31,
2028.  Commencing Jan. 1, 2029, 99 percent of all distributions
made by KDC Solar will be distributed to the Company.  In
connection with the exchange, the Company agreed to release KDC
Solar and KDC Solar B with respect to any obligations owed to the
Company under the EPC Agreement.

In addition, upon the closing of a term debt facility for the
Project, the parties agreed to enter into a Project Management
Agreement whereby the Company will manage the Project for a fee of
$1,000,000 which is payable upon closing of the term debt
facility.

Finally, pursuant to the Agreement, KDC Solar and KDC Solar B paid
the Company $782,000 for the final payment due under the
Engineering, Procurement and Construction Agreement for the
Middlesex project, located in North Brunswick, New Jersey.

                         About Solar Power

Roseville, Cal.-based Solar Power, Inc., is a global solar
energy facility ("SEF") developer offering its own brand of high-
quality, low-cost distributed generation and utility-scale SEF
development services.  Primarily, the Company works directly with
and for developers around the world who hold large portfolios of
SEF projects for whom it serves as an engineering, procurement and
construction contractor.  The Company also performs as an
independent, turnkey SEF developer for one-off distributed
generation and utility-scale SEFs.

Solar Power disclosed a net loss of $25.42 million in 2012, as
compared with net income of $1.60 million in 2011.  The Company's
balance sheet at Sept. 30, 2013, showed $132.92 million in total
assets, $119.71 million in total liabilities and $13.20 million in
total stockholders' equity.

Crowe Horwath LLP, in San Francisco, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has incurred a current year net loss of $25.4
million, has an accumulated deficit of $23.8 million, has
experienced a significant reduction in working capital, has past
due related party accounts payable and material adverse change and
default clauses in certain debt facilities under which the banks
can declare amounts immediately due and payable.  Additionally,
the Company's parent company LDK Solar Co., Ltd, has experienced
financial difficulties, which among other items, has caused delays
in project financing.  These matters raise substantial doubt about
the Company's ability to continue as a going concern.


SORENSON COMMUNICATIONS: Disclosure & Plan Hearing on April 10
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will hold a
hearing on April 10, 2014, at 12:00 p.m. (prevailing Eastern
Time), to consider the adequacy of the Disclosure Statement and
the confirmation of the Joint Prepackaged Chapter 11 Plan of
Reorganization filed in the Chapter 11 cases of Sorenson
Communications, Inc., et al.  The deadline for filing objections
to the Plan or the Disclosure Statement is April 3.

                About Sorenson Communications

Sorenson Communications, Inc., and its affiliates sought
protection under Chapter 11 of the Bankruptcy Code on March 3,
2014.  The lead case is In re Sorenson Communications, Inc.
Case No. 14-10454 (Bankr. D.Del.).  The case is assigned to Judge
Brendan Linehan Shannon.  The companies provide video relay
services (VRS) for people with hearing loss.

Sorenson Communications has a prepackaged plan of reorganization
that was reached with a substantial majority of its owners and
second lien note holders.

The Debtors' counsel is James H.M. Sprayregen, Esq., Patrick J.
Nash, Jr., Esq., Ross M. Kwasteniet, Esq., and Noah J. Ornstein,
Esq., at KIRKLAND & ELLIS LLP, in Chicago, Illinois; Timothy P.
Cairns, Esq., at PACHULSKI STANG ZIEHL & JONES LLP, in Wilmington,
Delaware; and Laura Davis Jones, Esq., at PACHULSKI STANG ZIEHL &
JONES LLP, in Wilmington, Delaware.  The Debtors' restructuring
consultant is Alixpartners LLC.  The Debtors' financial advisor
and investment banker is Moelis & Company LLC.  Kurtzman Carson
Consultants, LLC, serves as claims and noticing agent and
administrative advisor.

The Debtors had assets totaling $645 million and debts totaling
$1.4 billion as of Jan. 31, 2014.

The petitions were signed by Scott Sorensen, chief financial
officer.


STELLAR BIOTECHNOLOGIES: Six Directors Elected at Annual Meeting
----------------------------------------------------------------
Stellar Biotechnologies, Inc., held its annual general and special
meeting of shareholders on Feb. 13, 2014, at which all Meeting
resolutions were approved.  The resolutions passed at the Meeting
include the following:

  1. The number of directors of the Company for the pursuing year
     was set at six.

  2. The following individuals were elected directors of the
     Company: Gregory T. Baxter, Tessie M. Che, David L. Hill,
     Daniel E. Morse, Frank R. Oakes and Mayank (Mike) Sampat.

  3. D&H Group LLP, Chartered Accountants, were re-appointed as
     auditors of the Company.

  4. The Company's advance notice policy was ratified and
     approved.

  5. Adoption of the Company's Share Option Plan was ratified and
     approved, which included an increase in the maximum size from
     8,750,000 Common Shares to 10,000,000 Common Shares.

  6. The Company's 2014 Shareholder Rights Plan was ratified and
     approved.

The Board of Directors appointed the following officers of the
Company for the ensuing year:

  Frank R. Oakes     President and Chief Executive Officer
  Herbert S. Chow Chief Technology Officer
  Catherine Brisson Chief Operating Officer
  Kathi Niffenegger Chief Financial Officer

Mayank (Mike) Sampat, David L. Hill and Frank R. Oakes were re-
appointed members of the Audit Committee for the ensuing year, of
which Mayank (Mike) Sampat is Chair.

                            About Stellar

Port Hueneme, Cal.-based Stellar Biotechnologies, Inc.'s
business is to commercially produce and market Keyhole Limpet
Hemocyanin ("KLH") as well as to develop new technology related to
culture and production of KLH and subunit KLH ("suKLH")
formulations.  The Company markets KLH and suKLH formulations to
customers in the United States and Europe.

KLH is used extensively as a carrier protein in the production of
antibodies for research, biotechnology and therapeutic
applications.

Stellar Biotechnologies incurred a loss and comprehensive loss of
$14.88 million on $545.46 million of revenues for the year ended
Aug. 31, 2013, as compared with a loss and comprehensive loss of
$5.19 million on $286.05 million of revenues for the year ended
Aug. 31, 2012.  The Company incurred a loss and comprehensive loss
of $3.59 million for the year ended Aug. 31, 2011.

The Company's balance sheet at Nov. 30, 2013, showed $17.44
million in total assets, $9.03 million in total liabilities and
$8.40 million in total shareholders' equity.


SURROUNDART MANAGEMENT: Case Summary & Top Unsecured Creditors
--------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                     Case No.
     ------                                     --------
     Surroundart Management, LLC                14-41260
     63 Flushing Avenue, Unit 154
     Brooklyn, NY 11205

     Surroundart LLC                            14-41261
     63 Flushing Avenue, Unit 154
     Brooklyn, NY 11205

     Surroundart Storage LLC                    14-41262
     63 Flushing Avenue, Unit 154
     Brooklyn, NY 11205

Type of Business: A full service fine arts company specializing in
                  exhibition design, fabrication, mount making,
                  art installation, packing, crating, shipping and
                  storage.

Chapter 11 Petition Date: March 19, 2014

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

Judge: Hon. Carla E. Craig

Debtors' Counsel: Arnold Mitchell Greene, Esq.
                  ROBINSON BROG LEINWAND GREENE GENOVESE & GLUCK
                  P.C.
                  875 Third Avenue, 9th Floor
                  New York, NY 10022
                  Tel: (212) 603-6399
                  Fax: (212) 956-2164
                  Email: amg@robinsonbrog.com

                                          Total      Total
                                         Assets    Liabilities
                                       ----------  -----------
Surroundart Management                 $100,097     $7.84MM
Surroundart LLC                        $498,753     $6.05MM
Surroundart Storage                    $3.08MM      $4.23MM

The petitions were signed by Kele B. McComsey, president.

A list of Surroundart Management's 16 largest unsecured creditors
is available for free at http://bankrupt.com/misc/nyeb14-41260.pdf

A list of Surroundart LLC's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-41261.pdf

A list of Surroundart Storage's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-41262.pdf


TALON INTERNATIONAL: Appoints Chief Financial Officer
-----------------------------------------------------
Talon International, Inc., a leading global supplier of custom
zippers and apparel accessories, appointed Nancy Agger-Nielsen as
chief financial officer effective April 1, 2014.

Ms. Nielsen holds her CPA accreditation, an Accounting degree from
California State Polytechnic University in Pomona CA and an MBA in
Finance from the Peter F. Drucker School of Management at
Claremont Graduate University in Claremont, CA.  She has over 20
years of experience in all aspects of financial management with a
focus on strategic business planning, international operations,
and financial analysis.  Most recently, she served as CFO, of Med
Legal, LLC, and vice president of finance & administration for NDC
Infrared Engineering, a division of Spectris, plc.

Ms. Nielsen will serve as vice president finance on an interim
basis until her appointment as CFO becomes effective, subsequent
to the filing of the Company's 10K.

"The appointment of Ms. Nielsen as Chief Financial Officer of the
Company represents another important step in the growth of our
Company as we continue to advance Talon towards world leadership
in apparel accessories.  Nancy's broad-based experience as a
finance professional, especially in international companies and
strategic planning, makes her an ideal fit for the Chief Financial
Officer role at Talon International," commented Mr. Lonnie
Schnell, chief executive officer of the Company.  "Having
previously served in dual roles as CEO and CFO, I'm looking
forward to relinquishing my CFO duties and being able to focus on
strategic growth and building shareholder value," added Mr.
Schnell.

Ms. Agger-Nielsen does not have any family relationships with any
of the Company's other directors or executive officers.  Ms.
Agger-Nielsen does not have a direct or indirect material interest
in any transaction with the Company involving an amount exceeding
$120,000, and no such transaction is currently proposed.

Effective Feb. 28, 2014, Jim Reeder resigned from the Company.
Mr. Reeder previously served as vice president, corporate
controller and principal accounting officer of the Company.
Lonnie D. Schnell, the Company's chief executive officer and
current chief financial officer, will serve as principal
accounting officer until Ms. Agger-Nielsen's appointment becomes
effective.

                     About Talon International

Woodland Hills, Cal.-based Talon International, Inc. (OTC BB:
TALN) -- http://www.talonzippers.com/-- is a global supplier of
apparel fasteners, trim and interlining products to manufacturers
of fashion apparel, specialty retailers, mass merchandisers, brand
licensees and major retailers.  Talon manufactures and distributes
zippers and other fasteners under its Talon(R) brand, known as the
original American zipper invented in 1893.  Talon also designs,
manufactures, engineers, and distributes apparel trim products and
specialty waistbands under its trademark names, Talon, Tag-It and
TekFit, to more than 60 apparel brands and manufacturers including
Wal-Mart, Kohl's, J.C. Penney, Victoria's Secret, Tom Tailor,
Abercrombie and Fitch, Polo Ralph Lauren, Phillips-Van Heusen,
Reebok and Juicy Couture.  Talon has offices and facilities in the
United States, United Kingdom, Hong Kong, China, and Bangladesh.

Talon International disclosed net income of $679,347 for the year
ended Dec. 31, 2012, as compared with net income of $729,133
during the prior year.

The Company's balance sheet at Sept. 30, 2013, showed $14.23
million in total assets, $17.22 million in total liabilities and a
$2.98 million total stockholders' deficit.


THOMPSON CREEK: Incurs $215 Million Net Loss in 2013
----------------------------------------------------
Thompson Creek Metals Company Inc. filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K disclosing
a net loss of $215 million on $434.4 million of total revenues for
the year ended Dec. 31, 2013, as compared with a net loss of
$546.3 million on $401.4 million of total revenues for the year
ended Dec. 31, 2012.

For the three months ended Dec. 31, 2013, the Company reported a
net loss of $210.5 million on $117.1 million of total revenues as
compared with a net loss of $484.4 million on $99.4 million of
total revenues for the three months ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $3.08 billion in total
assets, $1.97 billion in total liabilities and $1.10 billion in
shareholders' equity.

Thompson Creek said that its Mt. Milligan copper and gold mine
achieved commercial production on Feb. 18, 2014, which the Company
defines as operation of the mill for a period of 30 days at 60
percent or more of design capacity mill throughput, equivalent to
36,000 tonnes per day.

"Achieving commercial production is a significant milestone for
the Company," said Jacques Perron, chief executive officer of
Thompson Creek.  "We are seeing steady improvements on a daily
basis and remain focused on optimizing operating performance at
the mine and mill to achieve full design capacity," added Mr.
Perron.

                        Bankruptcy Warning

"A failure to satisfy any of our debt obligations could be
exacerbated by cross default provisions.  In the event of default
under our amended and restated gold stream agreement with Royal
Gold, Royal Gold could require us to repay the amounts Royal Gold
has invested in Mt. Milligan Mine, as adjusted and reflected in
the deposit record maintained in accordance with the agreement,
which amounts totaled $779.8 million as of December 31, 2013.  In
the event of a default under the indentures governing the 2017
Notes, 2018 Notes and 2019 Notes, the trustee or holders of at
least 25% in principal of the outstanding 2017 Notes, 2018 Notes
and 2019 Notes, as applicable, may declare the principal, premium,
if any, and accrued and unpaid interest on the notes to be
immediately due and payable.  If we were to default under any of
these arrangements, we may not have sufficient assets to repay
such indebtedness upon a default or have access to sufficient
alternative sources of funds.  If we are unable to repay the
indebtedness, the lenders could foreclose against the assets
securing their borrowings and we could be forced into bankruptcy
or liquidation," the Company said in the Annual Report.

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

                         http://is.gd/vubkxv

                    About Thompson Creek Metals

Thompson Creek Metals Company Inc. is a growing, diversified North
American mining company.  The Company produces molybdenum at its
100%-owned Thompson Creek Mine in Idaho and Langeloth
Metallurgical Facility in Pennsylvania and its 75%-owned Endako
Mine in northern British Columbia.  The Company is also in the
process of constructing the Mt. Milligan copper-gold mine in
central British Columbia, which is expected to commence production
in 2013.  The Company's development projects include the Berg
copper-molybdenum-silver property and the Davidson molybdenum
property, both located in central British Columbia.  Its principal
executive office is in Denver, Colorado and its Canadian
administrative office is in Vancouver, British Columbia.  More
information is available at http://www.thompsoncreekmetals.com

                           *     *     *

As reported by the TCR on Aug. 14, 2012, Standard & Poor's Ratings
Services lowered its long-term corporate credit rating on Denver-
based molybdenum miner Thompson Creek Metals Co. to 'CCC+' from
'B-'.  "These rating actions follow Thompson Creek's announcement
of weaker production and higher cost expectations through next
year," said Standard & Poor's credit analyst Donald Marleau.

In the May 9, 2012, edition of the TCR, Moody's Investors Service
downgraded Thompson Creek Metals Company Inc.'s Corporate Family
Rating (CFR) and probability of default rating to Caa1 from B3.
Thompson Creek's Caa1 CFR reflects its concentration in
molybdenum, relatively small size, heavy reliance currently on two
mines, and the need for favorable volume and price trends in order
to meet its increasingly aggressive capital expenditure
requirements over the next several years.


TRIGEANT LTD: Continues to Spar with BTB Relating to Tex. Refinery
------------------------------------------------------------------
Judge Erik P. Kimball of the U.S. Bankruptcy Court for the
Southern District of Florida, West Palm Beach Division, will hold
a non-evidentiary hearing on March 27, 2014, on the motions filed
by Trigeant, Ltd., and BTB Refining, LLC, relating to BTB's
request for repossession of the real property in and including the
asphalt refinery in Corpus Christi, Texas.

BTB seeks, among other things, the ability to inspect and
photograph all offices, storage areas, and other premises at the
Debtor's refinery to ensure that all of BTB's personal property
has been removed, the ability to have specific BTB employees take
part in this process, and that a deadline for removal of BTB's
personal property set by the Debtor be declared void.  The Debtor
seeks a broader array of relief including, among other things, an
order "enforcing" the Debtor's right to use a neighboring dock, a
finding that BTB has interfered with the Debtor's use of its
pipeline, the setting of a deadline for BTB to remove its personal
property from the refinery, an order directing BTB not to
interfere with the Debtor's permitting efforts, an order directing
that certain documents be left at the refinery and not taken by
BTB, that BTB have access only to those portions of the refinery
where its personal property remains, that specified BTB employees
be denied access to the refinery, and that the Court order various
sanctions.

At the March 27 hearing, the Court will determine what relief
requested in the motions is properly before the Court as a
contested matter and whether an evidentiary hearing is required.
The Court directed that, prior to the continued hearing, one
partner from each Florida law firm representing the Debtor and BTB
will travel to the Corpus Christi refinery, to be present there on
the same mutually convenient day, at which time the Debtor and BTB
will complete removal of BTB's personal property from the
refinery.

BTB has asked the Court to enforce the Feb. 6, 2014, order,
alleging that Trigeant is hindering its completion of the
repossession process, to the point where BTB requires the Court's
assistance in enforcing the Repossession Order.  The Debtor
refuted BTB's accusation, saying BTB used its time on the premises
to sabotage the Debtor's attempts to generate any business from
the facility -- even under the conditions no rational third party
lender acting in good faith would ever impose on its borrower.
The Debtor said it has permitted BTB access to remove its personal
property and argued that BTB's alleged problems are by and large,
"self-inflicted."

The Feb. 6 Order granted BTB's relief from the automatic stay to
obtain from the Debtor all personal property in the possession of
the Debtor.  The Bankruptcy Court also issued a separate order
ruling that BTB, Trigeant, and PDVSA Petroleo, S.A., will have
relief from the automatic stay, for cause, to proceed with the
appeal now pending before the United States Court of Appeals for
the Fifth Circuit, Case Number 13-40062, through final disposition
by the Court of Appeals.  After a ruling by the Court of Appeals,
the parties will seek further relief from the Bankruptcy Court
including, without limitation, in connection with any remand to
the United States District Court for the Southern District of
Texas.

The dispute started when Trigeant sought authority from the
Bankruptcy Court to use the Refinery, including all personal
property attendant to the operation of the Refinery, on the
grounds that the property is the property of the Debtor's estate.
The assets that the Debtor sought to use were all part of a
March 4, 2008 non-judicial foreclosure conducted by BTB.  Pending
in the Fifth Circuit is the issue of whether Trigeant or BTB owns
the Refinery.  BTB opposed Trigeant's request to claim the
personal property as property of the Debtor's estate and has asked
the Bankruptcy Court to dismiss Trigeant's Chapter 11 case for one
year for a period of one year.  Trigeant supported BTB's motion to
dismiss the case, agreeing in BTB's allegations that the Debtor
does not currently realize substantial revenue, nor does it have
access to liquidity outside of additional financing.

The Debtor is represented by Jordi Guso, Esq., Charles H.
Lichtman, Esq., and Isaac M. Marcushamer, Esq., at BERGER
SINGERMAN LLP, in Florida.

BTB is represented by Charles W. Throckmorton, Esq., and David L.
Rosendorf, Esq., at Kozyak Tropin & Throckmorton, P.A., in Coral
Gables, Florida.

                       About Trigeant Ltd.

Trigeant, Ltd., filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Fla. Case No. 13-38580) in West Palm Beach, Florida, on
Nov. 27, 2013.  The Boca Raton, Florida-based owner of a refinery
estimated $10 million to $50 million in assets, and $50 million to
$100 million in liabilities.  Paul Steven Singerman, Esq., at
Berger Singerman, in Miami, serves as counsel to the Debtor.
Judge Hon. Erik P. Kimball presides over the case.


TRIGEANT LTD: Has Final Authority to Employ Berger Singerman
------------------------------------------------------------
Trigeant Ltd. received final authority from Judge Erik P. Kimball
to employ Paul Steven Singerman as general counsel.

Berger Singerman's fees in the Debtor's Chapter 11 case have been
guaranteed by Sargeant Trading, Ltd.  This non-debtor has agreed
that to the extent that any fees or expenses incurred by Berger
Singerman and approved by the Court in accordance with the
Bankruptcy Code and the Federal Rules of Bankruptcy Procedure
remain unpaid, the guarantor will pay them.

The current hourly rates for the attorneys at Berger Singerman
range from $235 to $650.  The current hourly rate of Paul Steven
Singerman, the senior lawyer who will be principally responsible
for Berger Singerman's representation of the Debtor, is $650.  The
current hourly rates for the legal assistants and paralegals at
Berger Singerman range from $75 to $210.  Berger Singerman
typically adjusts its hourly rates annually on January 1st.

                       About Trigeant Ltd.

Trigeant, Ltd., filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Fla. Case No. 13-38580) in West Palm Beach, Florida, on
Nov. 27, 2013.  The Boca Raton, Florida-based owner of a refinery
estimated $10 million to $50 million in assets, and $50 million to
$100 million in liabilities.  Paul Steven Singerman, Esq., at
Berger Singerman, in Miami, serves as counsel to the Debtor.
Judge Hon. Erik P. Kimball presides over the case.


TRIGEANT LTD: Amends Schedules of Assets and Liabilities
--------------------------------------------------------
Trigeant, Ltd., amended its schedules of assets and liabilities to
disclose the following:

                                         Assets     Liabilities
                                       -----------  -----------
   A. Real Property                    $30,000,000
   B. Personal Property                  5,166,779
   C. Property Claimed as Exempt
   D. Creditors Holding Secured Claims             $75,344,359
   E. Creditors Holding Unsecured
         Priority Claims                                     0
   F. Creditors Holding Unsecured
         Nonpriority Claims                          5,687,770
                                       -----------  -----------
      Total                            $35,166,779  $81,032,130
                                       ===========  ===========

Trigeant's previously-filed Schedules said it has assets totaling
$34,931,779 and liabilities totaling $81,032,130.

Full-text copies of the Schedules are available for free
at http://bankrupt.com/misc/TRIGEANTsal0114.pdf

                       About Trigeant Ltd.

Trigeant, Ltd., filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Fla. Case No. 13-38580) in West Palm Beach, Florida, on
Nov. 27, 2013.  The Boca Raton, Florida-based owner of a refinery
estimated $10 million to $50 million in assets, and $50 million to
$100 million in liabilities.  Paul Steven Singerman, Esq., at
Berger Singerman, in Miami, serves as counsel to the Debtor.
Judge Hon. Erik P. Kimball presides over the case.


TRIHOP CARMINE: Case Summary & 5 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Trihop Carmine

Case No.: 14-10690

Chapter 11 Petition Date: March 19, 2014

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Hon. Sean H. Lane

Debtor's Counsel: J. Ted Donovan, Esq.
                  Kevin J. Nash, Esq.
                  GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                  1501 Broadway, 22nd Floor
                  New York, NY 10036
                  Tel: (212)-221-5700
                  Fax: 212-422-6836
                  Email: TDonovan@GWFGlaw.com
                         KNash@GWFGlaw.com

Total Assets: $1.04 million

Total Liabilities: $218,868

The petition was signed by Ed Scannapieco, manager.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/nysb14-10690.pdf


TUSCANY INTERNATIONAL: Hires GMP Securities as Investment Banker
----------------------------------------------------------------
Tuscany International Holdings (U.S.A.) Ltd. and Tuscany
International Drilling Inc. seek permission from the U.S.
Bankruptcy Court for the District of Delaware to employ GMP
Securities, LLC as investment banker, nunc pro tunc to Feb. 2,
2014 petition date.

The Debtors require GMP Securities to:

   (a) review and analyze the Company's operations, properties,
       financial condition and prospects;

   (b) assist the Company in evaluating potential transaction
       alternatives and strategies;

   (c) assist the Company in preparing documentation within GMP
       Securities' area of expertise that is required in
       connection with a Transaction;

   (d) assist the Company in identifying financial and strategic
       institutional investors or other investors ("Interested
       Parties") who may be interested in participating in a
       Transaction;

   (e) on behalf of the Company, contact Interested Parties which
       GMP, after consultation with the company's management,
       believes meet certain industry, financial and strategic
       criteria and assist the Company in negotiating and
       structuring a Transaction;

   (f) advise the Company as to potential mergers or acquisitions,
       and the sale or other disposition of any of the Company's
       businesses or assets;

   (g) advise the Company on the timing, nature and terms of any
       new securities, other considerations or other inducements
       to be offered in connection with any Transaction; and

   (h) participate in the Company's board of directors meetings as
       determined by the Company to be appropriate, and, upon
       request, provide periodic status reports and advice to the
       board with respect to matters falling within the scope of
       GMP Securities' retention.

The Debtors have agreed to pay GMP Securities under the following
fee structure (the "Fee Structure"):

   (a) Monthly Advisory Fee: A non-refundable cash fee of $40,000
       upon the Company's signing of the Engagement Letter and
       $40,000 the first business day of each month thereafter
       until the termination of the Engagement Letter; provided,
       however, that the aggregate amount of such fees shall not
       exceed $120,000;

   (b) Financing Transaction Fee: At the closing of each Financing
       Transaction, a non-refundable cash fee equal to:

       (i) 2% of the Aggregate Gross Proceeds of debt obligations
           or other interests raised on a senior secured basis
           plus

      (ii) 3% of the Aggregate Gross Proceeds of debt obligations
           or other interests raised on a second-lien or unsecured
           basis, plus

     (iii) 5% of the Aggregate Gross Proceeds of equity or equity-
           linked securities raised in a Financing Transaction.
           GMP Securities shall not receive any fee on the amount
           of proceeds of a Financing Transaction invested by the
           Company's executive officers or directors from their
           personal assets.

   (c) Business Combination Transaction Fee: At the Closing of
       each Business Combination Transaction, a non-refundable
       cash fee equal to 3% of the Aggregate Gross Proceeds
       received in the sale, subject to a minimum fee of $600,000.
       Such fees will be paid to GMP Securities directly out of
       proceeds of each Business Combination Transaction.  GMP
       Securities will not be paid a Business Combination
       Transaction Fee for any amount of consideration made by
       "credit bid" pursuant to Bankruptcy Code Section 363(k).

   (d) Rig Sale Transaction Fee:  At the Closing of each Rig Sale
       Transaction, a non-refundable cash fee equal to 3% of the
       Aggregate Gross Proceeds received in such a sale.  Such
       fees will be paid to GMP Securities out of proceeds of each
       Rig Sale Transaction.  GMP Securities shall not receive a
       Rig Sale Transaction Fee if the sale of the Company's Rig
       #115 and Rig #116 to either of the two parties who have
       submitted written bids as of the execution of this
       Agreement is completed as currently contemplated at the
       value indicated of each bid.  However, the Company shall
       pay GMP Securities a fee of 3% on the amount, if any, of
       Aggregate Gross Proceeds received from the sale of Rig #115
       and Rig #116 that exceeds the amounts indicated on the
       existing written bids.

   (e) Restructuring Transaction Fee:  At the Closing of each
       Restructuring Transaction, a non-refundable cash fee equal
       to 1% of the face amount of the Company's existing
       obligations that are restructured, modified, amended,
       forgiven or otherwise compromised.  Such a fee shall be
       payable on the earlier of (i) the date on which a
       Restructuring Transaction is consummated or (ii) the date
       on which any amendment to or other changes in the
       instruments or terms pursuant to which the Company's
       existing obligations were issued or entered into become
       effective.

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

GMP Securities has agreed that, other than any expenses incurred
in connection with Addendum A to the Engagement Letter, the
aggregate amount of GMP Securities' expenses during these Chapter
11 cases shall not exceed $25,000.

David Abell, managing director of GMP Securities, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

The Court for the District of Delaware will hold a hearing on the
motion on Mar. 21, 2014, at 10:00 a.m.  Objections, if any, were
due Mar. 12, 2014, at 4:00 p.m.

GMP Securities can be reached at:

       David Abell
       GMP SECURITIES, LLC
       331 Madison Avenue
       New York, NY 10017
       Tel: (212) 692-5100
       Tel: (800) 452-4528

                  About Tuscany International

Tuscany International Holdings (U.S.A.) Ltd. and Tuscany
International Drilling Inc. sought protection from creditors under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 14-10193) in Delaware on Feb. 2, 2014.

Tuscany also commenced ancillary proceedings in the Court
of Queen's Bench of Alberta under the Companies' Creditors
Arrangement Act.

Pursuant to a restructuring support agreement with prepetition
lenders holding 95% of the prepetition loans, the Debtors have
agreed to sell substantially all of the assets of TID to lenders
in exchange for a credit bid of certain of their debt, effectuated
through a plan of reorganization.

Headquartered in Calgary, Alberta, Tuscany is engaged in the
business of providing contract drilling and work-over services
along with equipment rentals to the oil and gas industry.  Tuscany
is currently focused on providing services to oil and natural gas
operators in South America.  Tuscany has operating centers in
Colombia, Brazil, and Ecuador.  The Debtor disclosed $414,624,292
in assets and $207,332,530 in liabilities as of the Chapter 11
filing.

The Colombian and Brazilian businesses are operated by certain
non-debtor affiliates, while the Ecuador business is operated by
branch office of debtor TID.  As of the Petition Date, Tuscany
entities owned 26 rigs, of which 12 are located in Colombia, nine
in Brazil and five in Ecuador.  Of the 26 rigs, 15 were contracted
and operational as of the Petition Date and five were directly
owned by the Debtors.

Latham & Watkins LLP's Mitchell A. Seider, Esq., Keith A. Simon,
Esq., David A. Hammerman, Esq., and Annemarie V. Reilly, Esq.; and
Young Conaway Stargatt & Taylor, LLP's Michael R. Nestor, Esq.,
and Kara Hammond Coyle, Esq., serve as the Debtors' co-counsel.
FTI Consulting Canada, Inc.'s Deryck Helkaa is the chief
restructuring officer.  Prime Clerk LLC is the claims and notice
agent, and administrative agent.  McCarthy Tetrautt LLP is the
special Canadian counsel.  Deloitte & Touche LLP provides tax
services.

The Debtors' plan of reorganization dated March 3, 2014, proposes
that a newly-formed entity organized by certain prepetition
lenders will credit bid a principal amount of the Prepetition
Credit Agreement Claims or DIP Facility Claims to be determined in
exchange for all or substantially all of the assets of the HoldCo.

The U.S. Trustee said that an official committee of unsecured
creditors has not been appointed in the Debtors' cases.

An Official Committee of Equity Security Holders has been
appointed in the case.  The Equity Committee has tapped as
bankruptcy counsel Adam G. Landis, Esq., Kerri K. Mumford, Esq.,
James S. Green Jr., Esq., J. Landon Ellis, Esq., and Joseph D.
Wright, Esq., at Landis Rath & Cobb LLP.


TUSCANY INTERNATIONAL: Taps Deloitte LLP as Tax Service Providers
-----------------------------------------------------------------
Tuscany International Holdings (U.S.A.) Ltd. and Tuscany
International Drilling Inc. ask for authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Deloitte
LLP as tax service providers, nunc pro tunc to the Feb. 2, 2014
petition date.

The Debtors anticipate that Deloitte LLP will render tax
consulting and compliance services to the Debtors as needed
throughout the course of these Chapter 11 cases from time to time
as requested by the Debtors (the "Services").  The Services are
expected to include, but are not limited to:

   (a) advise the Debtors with respect to tax aspects of asset
       dispositions;

   (b) the preparation of the U.S. tax returns and other statutory
       filings, as described in detail in the U.S. Tax Compliance
       Engagement Letter;

   (c) international tax services;

   (d) transfer pricing services; and

   (e) tax provision assistance.

Deloitte LLP will be paid at these hourly rates:

       Partner                 CDN647.50
       Senior Manager          CDN479.50
       Manager                 CDN350
       Senior                  CDN245
       Analyst                 CDN175

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

Deloitte LLP has provided prepetition tax services to the Debtors.
In the 90 days prior to the petition date, Deloitte LLP received
payments totaling CDN973,746.59.  As of the petition date,
Deloitte LLP was not owed any amounts with respect to invoices
issued by Deloitte LLP prior to the petition date.

Olivier Labelle, partner in the tax practice of Deloitte LLP,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtors and their
estates.

The Court for the District of Delaware will hold a hearing on the
motion on Mar. 21, 2014, at 10:00 a.m.  Objections, if any, are
due Mar. 12, 2014, at 4:00 p.m.

Deloitte LLP can be reached at:

       Olivier Labelle
       DELOITTE & TOUCHE LLP
       700, 850 - 2nd Street S.W.
       Calgary AB T2P 0R8, Canada
       Tel: (403) 267-1790
       Fax: (587) 774-5383

                  About Tuscany International

Tuscany International Holdings (U.S.A.) Ltd. and Tuscany
International Drilling Inc. sought protection from creditors under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 14-10193) in Delaware on Feb. 2, 2014.

Tuscany also commenced ancillary proceedings in the Court
of Queen's Bench of Alberta under the Companies' Creditors
Arrangement Act.

Pursuant to a restructuring support agreement with prepetition
lenders holding 95% of the prepetition loans, the Debtors have
agreed to sell substantially all of the assets of TID to lenders
in exchange for a credit bid of certain of their debt, effectuated
through a plan of reorganization.

Headquartered in Calgary, Alberta, Tuscany is engaged in the
business of providing contract drilling and work-over services
along with equipment rentals to the oil and gas industry.  Tuscany
is currently focused on providing services to oil and natural gas
operators in South America.  Tuscany has operating centers in
Colombia, Brazil, and Ecuador.  The Debtor disclosed $414,624,292
in assets and $207,332,530 in liabilities as of the Chapter 11
filing.

The Colombian and Brazilian businesses are operated by certain
non-debtor affiliates, while the Ecuador business is operated by
branch office of debtor TID.  As of the Petition Date, Tuscany
entities owned 26 rigs, of which 12 are located in Colombia, nine
in Brazil and five in Ecuador.  Of the 26 rigs, 15 were contracted
and operational as of the Petition Date and five were directly
owned by the Debtors.

Latham & Watkins LLP's Mitchell A. Seider, Esq., Keith A. Simon,
Esq., David A. Hammerman, Esq., and Annemarie V. Reilly, Esq.; and
Young Conaway Stargatt & Taylor, LLP's Michael R. Nestor, Esq.,
and Kara Hammond Coyle, Esq., serve as the Debtors' co-counsel.
FTI Consulting Canada, Inc.'s Deryck Helkaa is the chief
restructuring officer.  Prime Clerk LLC is the claims and notice
agent, and administrative agent.  McCarthy Tetrautt LLP is the
special Canadian counsel.  Deloitte & Touche LLP provides tax
services.

The Debtors' plan of reorganization dated March 3, 2014, proposes
that a newly-formed entity organized by certain prepetition
lenders will credit bid a principal amount of the Prepetition
Credit Agreement Claims or DIP Facility Claims to be determined in
exchange for all or substantially all of the assets of the HoldCo.

The U.S. Trustee said that an official committee of unsecured
creditors has not been appointed in the Debtors' cases.

An Official Committee of Equity Security Holders has been
appointed in the case.  The Equity Committee has tapped as
bankruptcy counsel Adam G. Landis, Esq., Kerri K. Mumford, Esq.,
James S. Green Jr., Esq., J. Landon Ellis, Esq., and Joseph D.
Wright, Esq., at Landis Rath & Cobb LLP.


USEC INC: Disclosure Statement Hearing Scheduled for April 21
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing on April 21, 2014, at 11:00 a.m. to consider the
adequacy of the disclosure statement explaining USEC Inc.'s Plan
of Reorganization.  Objections are due on or before April 14.

The Plan proposes, and its terms embody, a prearranged
restructuring of the Debtor's obligations under (a) its 3.0%
convertible senior unsecured notes due 2014, and (b) its preferred
stock.  Specifically, the Plan provides that, on the effective
date, each holder of an allowed Noteholder claim will receive its
pro rata share of (i) 79.04% of the New Common Stock issued under
the Plan, (ii) cash equal to the amount of the interest accrued on
the Old Notes from the date of the last interest payment made by
the Debtor before the Petition Date to the Effective Date, and
(iii) New Notes to be issued under the Plan in the aggregate
principal amount of $200 million.

The Plan provides, in turn, that holders of Allowed Preferred
Stock Interests/Claims will receive (i) 15.96% of the New Common
Stock issued under the Plan and (ii) New Notes to be issued under
the Plan in the aggregate principal amount of $40.38 million.

The Plan further provides that, if Class 5 (Noteholder Claims) and
Class 6 (Preferred Stock Interests/Claims) vote to accept the
Plan, the holders of Allowed Common Stock Interests/Claims in
Class 7 will receive a pro rata share of 5% of the New Common
Stock under the Plan.  Additionally, the Plan provides that
Unexercised Common Stock Rights will be cancelled and the holders
of any of those Interests will not receive or retain any property
under the Plan.  The remaining four Classes of Claims -- Other
Priority Claims in Class 1, Secured Claims in Class 2, General
Unsecured Claims in Class 3 and Intercompany Claims in Class 4 --
are not impaired by the Plan.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
related that although the Debtor got what it needed at a hearing
on March 6, Delaware Bankruptcy Judge Christopher Sontchi was
skeptical about the long-term success of a reorganization for the
producer of enriched uranium for nuclear power plants.  Mr.
Rochelle said Judge Sontchi questioned whether the plan would only
"keep the company on life support for the next six to 10 years."

USEC's convertible notes last traded on March 6 for 40.5
cents on the dollar, the Bloomberg report said, citing Trace, the
bond-price reporting system of the Financial Industry Regulatory
Authority.  When the reorganization was announced in December, the
notes traded for 17 cents on the dollar.

                       About USEC Inc.

USEC Inc. filed a Chapter 11 bankruptcy petition (Bank. D. Del.
Case No. 14-10475) on March 5, 2014.  John R. Castellano signed
the petition as chief restructuring officer.  The Debtor disclosed
total assets of $70 million and total liabilities of $1.07
billion.  The Hon. Christopher S. Sontchi presides over the case.

Latham & Watkins LLP acts as the Debtor's general counsel.
Richards, Layton and Finger, P.A., serves as the Debtor's Delaware
counsel.  Vinson & Elkins is the Debtor's special counsel.
Lazard Freres & Co. LLC acts as the Debtor's investment banker.
AP Services, LLC, provides management services to the Debtor.
Logan & Company Inc. serves as the Debtor's claims and noticing
agent.  Deloitte Tax LLP are the Debtor's tax professionals.  The
Debtor's independent auditor is PricewaterhouseCoopers LLP.
KPMG LLP provides fresh start accounting services to the Debtor.


USEC INC: Expects Bankruptcy Exit in 90 to 120 Days
---------------------------------------------------
USEC Inc. is implementing the agreement reached with a majority of
the holders of its senior unsecured convertible notes that was
announced in December 2013.  This agreement sets forth the terms
of a financial restructuring plan to strengthen the Company's
balance sheet, enhance its ability to sponsor the American
Centrifuge project and improve its long-term business
opportunities.  The company also has also reached agreement with
its preferred equity investors, Toshiba Corporation and The
Babcock & Wilcox Company, to support the restructuring plan.

In order to implement the agreement, USEC filed a voluntary
petition on March 5, 2014, and a plan of reorganization under
Chapter 11 of the bankruptcy code in the U.S. Bankruptcy Court for
the District of Delaware.  USEC anticipates receiving Court
approval for its prearranged plan of reorganization and emerging
from Chapter 11 in 90 to 120 days.  None of USEC's subsidiaries,
including its primary operating subsidiary the United States
Enrichment Corporation, have filed for bankruptcy protection.

The Company had positive cash flow from operations in 2013 and
ended the year with a cash balance of $314 million.  During the
restructuring process, USEC's subsidiary, the United States
Enrichment Corporation, will provide debtor-in-possession (DIP)
financing to USEC that will support continued operations.  No
third-party DIP financing will be required.  After meeting its
significant payables in the first quarter, the Company anticipates
a cash balance of at least $60 million at March 31, 2014.

According to the Company, this filing has no impact on its daily
operations, which includes the Company's efforts to deploy the
American Centrifuge uranium enrichment technology and perform the
research, development and demonstration program partially funded
by the U.S. Department of Energy.  As a non-debtor, United States
Enrichment Corporation's operations, which include the transition
of the Paducah Gaseous Diffusion Plant back to the U.S. Department
of Energy (DOE) and the sale of SWU from its inventory and
purchases of Russian low enriched uranium, continue unaffected.
"By addressing the October 2014 maturity of the convertible notes,
USEC will be able to pursue its ongoing business objectives with
greater certainty," said John K. Welch, USEC president and chief
executive officer.  "The restructuring will strengthen USEC's
balance sheet and enhance the company's ability to sponsor the
American Centrifuge project.  Throughout this process our
operations will continue.  We will continue to make customer
deliveries, execute the RD&D program and continue progress on
transitioning the Paducah GDP."

The plan of reorganization, which is supported by those holding
approximately 65 percent of USEC's debt, as well as Toshiba and
Babcock & Wilcox, calls for replacing USEC's $530 million debt and
all of its preferred and common stock with a new debt issue
totaling $240.4 million and new common stock.  The new debt issue
would mature in five years and can be extended for an additional
five years subject to certain conditions.  The noteholders would
receive $200 million of the new debt and approximately 79 percent
of the common stock, Toshiba and Babcock & Wilcox would each
receive $20.19 million of the new debt and approximately 8 percent
of the new common stock.  Existing stockholders would receive 5
percent of the new common stock.  USEC's board of directors and
management team are substantial holders of the common stock and
their holdings will be treated exactly as all other common
shareholders.  In addition, any unvested or unexercised stock
awards they hold will be forfeited under the plan.

USEC issued the original notes in 2007 at a time when the nuclear
power industry was expected to grow significantly and the American
Centrifuge Plant was expected to be completed and producing
operating cash flow before the notes matured.  In addition, USEC,
Toshiba and Babcock & Wilcox entered into an agreement in 2010 for
a phased preferred equity investment to strengthen the Company's
financial position for deployment of the American Centrifuge
technology.  The company's deployment plans for the American
Centrifuge Plant have been affected by delays in obtaining
permanent financing for construction and by a global oversupply of
nuclear fuel following a devastating tsunami in Japan that
resulted in extensive damage to reactors at Fukushima in 2011.
More than 50 nuclear power reactors in Japan and Germany were shut
down.  The resulting oversupply caused nuclear fuel prices to drop
to their lowest levels in a decade, which has negatively affected
the economics of deploying the American Centrifuge technology in
the near term.  Other factors that have affected the Company's
deployment plans include increases in the cost of several key
commodities, and changes and additions to project scope and
schedule.

The current USEC board of directors will oversee the restructuring
process until the effective date of the plan when a new board
would take its place.  B&W and Toshiba each retain the right to
representation on the board of directors.

The restructuring plan support agreements entered into by Toshiba
and Babcock & Wilcox and other materials related to the filing can
be found in an 8-K filed with the Securities and Exchange
Commission and is available for free at http://is.gd/344hB1



In connection with the bankruptcy filing, USEC's board of
directors also approved the termination of the company's tax
benefit preservation plan, which was originally scheduled to
expire on Sept. 29, 2014.  The plan has been amended to accelerate
the expiration date to March 4, 2014, effectively terminating the
plan as of that date.

USEC expects to issue its fourth quarter 2013 earnings and its
annual report on Form 10-K in late March.  During the period its
case is pending in Bankruptcy Court, USEC will not hold quarterly
telephonic conference calls with investors.

USEC has informed and discussed the Chapter 11 filing with the New
York Stock Exchange.  The Company's most recent quarterly update
on its plan of compliance to meet the Exchange's continued listing
standards was accepted and the stock has traded since the
Company's December 16 announcement that it had reached a
restructuring agreement.  The NYSE will continue to monitor the
Company under its continued listing standards throughout the
Chapter 11 process.

USEC's legal advisor for the restructuring is Latham & Watkins
LLP, its financial advisor is Lazard, and its restructuring
advisor is Alix Partners LLP.  An ad hoc group of holders of
USEC's senior convertible notes is advised by Akin Gump Strauss
Hauer & Feld LLP and Houlihan Lokey.

Effective March 4, 2014, George Dudich, president of Babcock &
Wilcox Technical Services Group, Inc., resigned from the Board of
Directors of the Company.  Mr. Dudich has been a director of the
Company since Oct. 24, 2012.  Mr. Dudich's resignation is not
because of any disagreement with the Company known to an executive
officer of the Company on any matter relating to the Company's
operations, policies or practices.

                          About USEC Inc.

USEC Inc., a global energy company, is a leading supplier of
enriched uranium fuel for commercial nuclear power plants.

USEC Inc. filed a Chapter 11 bankruptcy petition (Bankr. D. Del.
Case No. 14-10475) on March 5, 2014.  The petition was signed by
The petition was signed by John R. Castellano as chief
restructuring officer.  The Debtor disclosed total assets of $70
million and total liabilities of $1.07 billion.  The Hon.
Christopher S. Sontchi oversees the case.

Latham & Watkins LLP serves as the Debtor's general bankruptcy
counsel.  Richards, Layton and Finger  P.A., is the Debtor's
Delaware counsel.  Vinson & Elkins LLP is the Debtor's special
finance counsel.  Lazard Freres & Co. LLC is the Debtor's
investment banker.  AP Services, LLC, provides management services
to the Debtor.  Logan & Company Inc. is the Debtor's
claims/noticing agent.  Deloitte Tax LLP is the Debtor's tax
advisors.  PricewaterhouseCoopers serves as the Debtor's auditor.
KPMG LLP provides the Debtor with fresh start accounting services.


VAIL LAKE: Court Okays Hiring of PH&I as Litigation Counsel
-----------------------------------------------------------
Vail Lake Rancho California, LLC and its debtor-affiliates sought
and obtained authorization from the Hon. Louise DeCarl Adler of
the U.S. Bankruptcy Court for the Southern District of California
to employ Phillips, Haskett & Ingwalson ("PH&I") as its special
litigation counsel in this Chapter 11 case, effective as of
Feb. 1, 2014.

The Debtors now seek to employ PH&I as its special litigation
counsel in California Court of Appeal, Fourth Appellate District
Case No. D061892, and, as necessary in the Superior Court Action,
San Diego Superior Court Case No. 37-2009-00094633-CU-FR-CTL, (the
"Kid Gloves Action").  The Kid Gloves Action was filed on July 24,
2009.

The professional services that PH&I will render to the Debtors
will be limited to those services in regard to the Kid Gloves
Action as authorized by the Debtors.

The current normal and customary hourly rates charged by the
attorneys who are anticipated to be providing services to the
Debtors as special litigation counsel are:

       Frederick C. Phillips, Partner             $375
       J.B. Haskett, Associate                    $200

PH&I will also be reimbursed for reasonable out-of-pocket expenses
incurred.

PH&I did represent the Debtors in the past and has filed a secured
claim in the bankruptcy proceedings of Vail Lake Rancho
California, LLC, Vail Lake USA, LLC and Vail Lake Village and
Resorts, LLC in the amount of $1,018,899.95, representing the
amount owed by the Debtors as of the date of the adjudication of
the Vail Lake Rancho California bankruptcy.

Frederick C. Phillips, partner of PH&I, 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.

PH&I can be reached at:

       Frederick C. Phillips, Esq.
       PHILLIPS, HASKETT & INGWALSON
       701 B St # 1190
       San Diego, CA 92101
       Tel: +1 619-231-3737

                          About Vail Lake

Vail Lake Rancho California, LLC, and its affiliates own the
California campground Vail Lake Resort. Vail Lake is a large
reservoir in western Riverside County, California, located on
Temecula Creek in the Santa Margarita River watershed,
approximately 15 miles east of Temecula, California.  Properties
cover approximately 9,000 acres and have an estimated water
storage capacity of approximately 51,000 acre-feet.

On Dec. 26, 2012, creditors of Vail Lake filed an involuntary
Chapter 11 petition (Bankr. S.D. Cal. Case No. 12-16684) for Vail
Lake.  In a filing on June 6, 2013, the Debtor said it consents to
the entry of an order for relief and does not contest the
involuntary Chapter 11 petition.

On June 5, 2013, the company sent 5 related entities -- Vail Lake
USA, LLC ("VLU"), Vail Lake Village & Resort, LLC ("VLRC"), Vail
Lake Groves, LLC, Agua Tibia Ranch, LLC, and Outdoor Recreational
Management, LLC -- to Chapter 11 bankruptcy.

The new debtors have sought and obtained an order for joint
administration of their Chapter 11 cases with Vail Lake Rancho
(Case No. 12-16684).

The Debtors are represented by attorneys at Cooley LLP and
Phillips, Haskett & Ingwalson, A.P.C.  The Debtor also employed
Thomas C. Hebrank and E3 Realty Advisors, Inc., with Mr. Hebrank
serving as the Debtors' chief restructuring officer.

The Debtors' consolidated assets, as of May 31, 2013, total
$291,016,000 and liabilities total $52,796,846.


WALTER ENERGY: Moody's Rates $100MM Debt B3 & Affirms Caa1 CFR
--------------------------------------------------------------
Moody's assigned ratings to the new debt proposed to be issued by
Walter Energy, Inc. (Walter), including B3 rating to the $100
million add-on to the first lien secured debt due 2019, B3 rating
the amended revolving credit facility and Caa1 rating to the new
$350 million second lien notes. At the same time, Moody's affirmed
the existing ratings, including Caa1 corporate family rating
(CFR), probability of default rating of Caa1-PD, Caa2 senior
unsecured rating, and SGL-4 speculative grade liquidity rating.
The outlook is stable. The proceeds from the debt offering are
expected to be used to repay the $407 million outstanding under
Term Loan A, maturing in 2015 and 2016.

Following the closing of the transaction and the Term Loan A
repayment, the revolver will be extended by eighteen months for
82% of the revolver lenders who voted for the amendment. The
amendment will reduce the size of the extended revolver
commitments by 20%, with lenders who did not vote for the
extension retaining their original commitments until April 2016.
As such, total revolver commitments will be reduced from $375
million to $314 million until April 2016 and further to $245
million until October 2017. The amended commitments will not be
subject to the minimum liquidity covenant, but will include a net
first lien secured leverage covenant, which will be effective
before June 30, 2016 only if revolver borrowings exceed 30% and
after June 30, 2016 at any time until the revolver maturity date.

"Although we believe that the proposed transaction improves the
company's liquidity position by extending its debt maturity
profile, the speculative grade liquidity rating remains SGL-4
given the remaining near-term maturity of $306 million in 2015
under Term Loan A until the transaction is executed as
contemplated. We expect that upon closing of the transaction, Term
Loan A will be repaid, with no maturities remaining until 2018.
However, the SGL rating also reflects our expectation that the
company will generate negative free cash flows absent a meaningful
recovery in metallurgical coal markets. In addition, if
metallurgical coal prices remain weak, the revolver's covenants
could restrict availability," Moody's said.

Ratings Rationale

The Caa1 CFR continues to reflect the difficulties of operating a
commodity-driven business in a protracted trough cycle environment
with a highly-leveraged balance sheet and a modest liquidity
cushion. The rating is also constrained by high operating risk
implied by heavy reliance on a few key coal mines for the majority
of earnings and cash flow, and limited trough-cycle margin
potential of the metallurgical coal assets in western Canada.
Success in implementing cost control programs, strong potential
earnings and cash flow on a mid-cycle basis, and the value of the
very cost competitive metallurgical coal assets in Alabama support
the rating.

The stable outlook anticipates that modest improvement in met coal
fundamentals will drive modest quarterly improvement in operating
results and that the company will maintain adequate liquidity to
support operations.

Moody's could upgrade the rating with evidence that improvement in
spot met coal pricing will translate into positive free cash flow
on a sustained basis and a demonstrated willingness to reduce
debt.

Moody's could downgrade the rating with further deterioration in
market conditions or pricing, expectations for substantive erosion
in the company's cash position, or heightened concerns related to
upcoming loan amortization in 2015.

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

Walter Energy, Inc., is primarily a metallurgical coal producer
with additional operations in metallurgical coke, steam and
industrial coal, and natural gas. Headquartered in Birmingham,
Alabama, the company generated $2 billion in revenue in 2013.


WEST TEXAS GAUR: Judge to Rule on Chapter 11 Trustee Bid Today
--------------------------------------------------------------
Josie Musico, writing for Lubbock Avalanche-Journal, reported that
U.S. Bankruptcy Judge Robert L. Jones said Thursday he will
consider the request by farmers to appoint a trustee to oversee
operations at West Texas Guar, then rule today, March 21.

The report said the farmers testified in federal court Thursday
afternoon, March 20 they're frustrated that West Texas Guar failed
to pay them for their crop.  The 24 growers allege the Company
owes them nearly $4 million, and that it violated a contract by
not paying them within the agreed 45 days after they delivered the
crops.

The report said Samuel Stricklin, an attorney for West Texas Guar,
said the Company is still working to pay the farmers, but could
actually be hindered from doing so if legal squabbles continue.
"We would like to negotiate and have time to get this settled," he
said.  "If this goes into litigation, the only people that are
going to benefit are going to be the lawyers."

According to the report, pursuant to the terms of an as-yet
unaccepted offer, the Company will immediately pay the farmers 50%
of what they're owed, then pay the remainder over a two-year
period at 4% interest.  Ninety-five percent of plaintiffs must
agree to the offer for it to proceed.

The report recounted that Terry County District Judge Kelly Moore
issued restraining orders March 7 to keep the company from
processing guar from plaintiffs in the case.

Byrnie Bass, one of a half-dozen attorneys representing the
growers, suggested the company was still operating, the report
said.

Representatives of 24 farms filed an involuntary Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 14-50056) on March
14, 2014, against West Texas Guar Inc.  The farmers claim they are
owed nearly $4 million for seed they've delivered on the 2013
harvest but haven't been paid for.  Guar is a seed crop that has a
variety of uses in human and animal food production, textiles and
fracking for oil and gas wells.

Judge Robert L. Jones oversees the case.  The farmers are
represented by R. Byrn Bass, Jr., Esq., Attorney at Law.


YRC WORLDWIDE: Stephen Freidheim Stake at 4% as of Jan. 31
----------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Stephen C. Freidheim and his affiliates
disclosed that as of Jan. 31, 2014, they beneficially owned
1,198,509 shares of common stock of YRC Worldwide, Inc.,
representing 4 percent of the shares outstanding.  The reporting
persons previously owned 1,330,275 shares at Oct. 16, 2013.  A
copy of the regulatory filing is available at http://is.gd/7ZQDtv

                        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.

YRC Worldwide incurred a net loss of $83.6 million on $4.86
billion of operating revenue as compared with a net loss of $136.5
million on $4.85 billion of operating revenue in 2012.

As of Dec. 31, 2013, the Company had $2.06 billion in total
assets, $2.66 billion in total liabilities and a $597.4 million
total shareholders' deficit.

                            *    *    *

As reported by the TCR on Feb. 18, 2014, Moody's Investors Service
has upgraded the Corporate Family Rating for YRC Worldwide Inc.
("YRCW") from Caa3 to B3, following the successful closing of its
refinancing transactions.

In the Jan. 31, 2014, edition of the TCR, Standard & Poor's
Ratings Services said that it raised its ratings on Overland Park,
Kansas-based less-than-truckload (LTL) trucker YRC Worldwide Inc.
(YRCW), including the corporate credit rating to 'CCC+' from
'CCC', and removed them from CreditWatch negative, where they were
placed on Jan. 10, 2014.  "The upgrades reflect YRCW's improved
liquidity position and minimal debt maturities as a result of its
proposed refinancing," said Standard & Poor's credit analyst Anita
Ogbara.


ZOGENIX INC: Incurs $35.6 Million Net Loss in Fourth Quarter
------------------------------------------------------------
Zogenix, Inc., reported a net loss of $35.61 million on $9.92
million of total revenue for the three months ended Dec. 31, 2013,
as compared with a net loss of $643,000 on $9.49 million of total
revenue for the same period during the prior year.

For the 12 months ended Dec. 31, 2013, the Company reported a net
loss of $80.85 million on $33.01 million of total revenue as
compared with a net loss of $47.38 million on $44.32 million of
total revenue in 2012.

As of Dec. 31, 2013, the Company had $112.50 million in total
assets, $94.07 million in total liabilities and $18.42 million in
stockholders' equity.

Roger Hawley, chief executive officer of Zogenix, stated, "We
ended the year with positive momentum in our migraine business
from both SUMAVEL DosePro and our co-promotion of Migranal.  This
week, we made Zohydro ER available through select pharmacies and
we've commenced our educational efforts with prescribers and
pharmacists.  We are taking a measured approach to
commercialization, with a strong focus on prescriber, pharmacist
and patient education.  We've also implemented our comprehensive
suite of voluntary initiatives supporting the appropriate use of
Zohydro ER along with the class-wide REMS for extended-release
opioids.  The Company also continues to make progress with the
development of an abuse deterrent formulation of Zohydro ER."

Cash and cash equivalents as of Dec. 31, 2013, were $72 million,
compared to $17.4 million in cash and cash equivalents on
Sept. 30, 2013.  In November 2013, Zogenix raised net proceeds of
$64.5 million in a public offering of common stock.

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

                        http://is.gd/tMnmSO

                         About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

Ernst & Young LLP, in San Diego, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012, citing recurring losses from
operations and lack of sufficient working capital which raise
substantial doubt about the Company's ability to continue as a
going concern.


ZURIC BUILDERS: Case Summary & Largest Unsecured Creditors
----------------------------------------------------------
Four Debtor affiliates filing separate Chapter 11 bankruptcy
petitions:

   Debtor                                      Case No.
   ------                                      --------
   Zuric Builders LLC- 811 West Lawrence Ave   14-09918
   1741 Crystal
   Chicago, IL 60622


   Zuric Builders, LLC- 5760-5772 N. Lincoln   14-09921
   1741 W Crystal
   Chicago, IL 60622


   Zuric Builders, LLC - 932 West Diversey     14-09926
   1741 W Crystal
   Chicago, IL 60622

   Zuric Builders, LLC-5321North Lincoln-2D    14-09929
   1741 W Crystal
   Chicago, Il 60622

Chapter 11 Petition Date: March 19, 2014

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Hon. Benjamin Goldgar (14-09918)
       Hon. Timothy A. Barnes (14-09921, 14-09926)
       Hon. Judge Janet S. Baer (14-09929)

Debtors' Counsel: O Allan Fridman, Esq.
                  WALLACH MICHALEC FRIDMAN, P.C.
                  555 Skokie Blvd, Suite 500
                  Northbrook, IL 60062
                  Tel: 847 412-0788
                  Fax: 847 412-0898
                  Email: allanfridman@gmail.com

                                    Estimated   Estimated
                                     Assets    Liabilities
                                   ----------  -----------
Zuric Builders LLC 811 West        $1MM-$10MM  $1MM-$10MM
Zuric Builders, LLC- 5760-5772     $1MM-$10MM  $1MM-$10MM
Zuric Builders, LLC - 932 West     $1MM-$10MM  $1MM-$10MM
Zuric Builders, LLC-5321North      $100K-$500K $100K-$500K

The petitions were signed by Branislav Zuric, member.

A list of Zuric Builders, LLC- 5760-5772's seven largest unsecured
creditors is available for free at:

             http://bankrupt.com/misc/ilnb14-9921.pdf

A list of Zuric Builders, LLC - 932 West's five largest unsecured
creditors is available for free at

             http://bankrupt.com/misc/ilnb14-9926.pdf

A list of Zuric Builders, LLC-5321's three largest unsecured
creditors is available for free at

             http://bankrupt.com/misc/ilnb14-9929.pdf


* Supreme Court Limits Federal Court Equity Powers
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that U.S. Supreme Court dealt a blow to the notion that a
bankruptcy court is a court of equity, ruling that someone who
attempts to defraud creditors can't lose the exempt status of his
home to compensate the trustee for uncovering the fraud.

According to the report, writing for a unanimous court, Justice
Antonin Scalia said on March 4 that a bankruptcy court's "inherent
sanctioning powers are likewise subordinate to valid statutory
directives and prohibitions." Justice Scalia, Mr. Rochelle noted,
is a chief advocate on the Supreme Court for the idea that
statutes must be given their plain meaning.

The case, Law v. Siegel, involved an individual bankrupt who owned
a home worth $360,000, the report related.  There was a valid
first mortgage for $150,000 and a fictional $160,000 second
mortgage that the bankruptcy court said was invented by the debtor
to protect value in the property for himself beyond the $75,000
homestead exemption permitted by California law.

The U.S. Court of Appeals in San Francisco wrote a two-page
opinion in 2011 upholding the bankruptcy court and allowing the
trustee to disregard the homestead exemption and recover expenses
incurred in litigating over the fictional mortgage, the report
further related.

Justice Scalia said the bankruptcy court couldn't override the
bankrupt's right to a homestead exemption using the court's
"inherent powers" or Section 105(a) of the Bankruptcy Code, known
as the All Writs Act, which allows a judge to make any order
that's "necessary or appropriate."

The case is Law v. Siegel, 12-5196, U.S. Supreme Court
(Washington).


* OneBeacon Can't Battle FDIC in Ga. Over D&O Coverage
------------------------------------------------------
Law360 reported that a Georgia federal judge held for the second
time that a 1989 federal law blocked him from deciding whether
OneBeacon Midwest Insurance Co. owed coverage for the Federal
Deposit Insurance Corp.'s claims that former directors and
officers of a failed bank caused $15 million in losses.

According to the report, rejecting OneBeacon's request for
reconsideration, U.S. District Judge Richard Story stuck to his
March 2013 holding that the court lacked jurisdiction over the
coverage fight because of a broadly worded provision in the
Financial Institutions Reform, Recovery and Enforcement Act of
1989.


* FINRA Deletes Red Flags From Brokers' Records, Says Study
-----------------------------------------------------------
Law360 reported that The Financial Industry Regulatory Authority
Inc. routinely deletes "red flag" information about brokers'
bankruptcies, tax liens, firings, flunked tests and sales practice
abuse investigations in its background information disclosure
system, according to an international securities bar association
study.

In a report, the Public Investors Arbitration Bar Association said
that FINRA's BrokerCheck disclosure system hides "crucial
information" about financial professionals that is otherwise
available from many state securities agencies, the report related.

The Wall Street Journal also reported that more than 1,600
stockbrokers' records failed to disclose bankruptcy filings,
criminal charges or other red flags in violations of regulations,
without regulators noticing.  The Journal said these same brokers
have also accumulated more disciplinary actions by regulators and
complaints from clients, on average, than other brokers.

The Journal pointed out that Finra requires brokers and the firms
that employ them to report a wide range of issues, including
bankruptcies and criminal charges brokers have faced.


* Fraud Trial of Bond Trader Goes to Jury
-----------------------------------------
Julie Steinberg, writing for The Wall Street Journal, reported
that the judge in the trial of former Jefferies Group LLC bond
trader Jesse Litvak sent the case to the jury, which will weigh
whether statements he made to clients were inconsequential or
aggressive sales tactics that constituted fraud.

According to the report, the federal government argues that Mr.
Litvak committed securities fraud by misrepresenting to clients
the prices of certain residential mortgage-backed securities he
was selling and buying on their behalf, in a bid to boost his
trading revenue.

The verdict in Mr. Litvak's trial will be closely watched, as it
could set a precedent for a government probe launched after Mr.
Litvak was arrested last year, the report said.  Investigators in
that probe are looking at whether traders at other banks acted
similarly.

Speaking in U.S. District Court in New Haven, Conn., Assistant
U.S. Attorney Eric Glover said Mr. Litvak's representations to
customers on prices of the bonds weren't "inconsequential," the
report related.

"The evidence shows, that stuff was important," he said, the
report added.  Proving materiality, he added, doesn't require
showing that the alleged false prices caused Mr. Litvak's clients
to act differently. For something to be considered material, he
said, "it just means it was important and part of consideration."


* Household Worth in U.S. Climbs by $2.95 Trillion to Record
------------------------------------------------------------
Victoria Stilwell, writing for Bloomberg News, reported that
household wealth in the U.S. increased from October through
December, as gains in stock portfolios and home prices boosted
Americans' finances.

Net worth for households and non-profit groups rose by $2.95
trillion in the fourth quarter, or 3.8 percent from the previous
three months, to a record $80.7 trillion, the Federal Reserve said
on March 7 from Washington in its financial accounts report,
previously known as the flow of funds survey, Bloomberg related.

More jobs, higher stock prices and improved home values have all
helped consumers clean up their balance sheets in the years
following the biggest recession since the Great Depression,
Bloomberg said, citing the report. Additional gains in the labor
market and household wealth will be needed to give consumers the
means to spend on goods and services, boosting economic growth.

"The gains in wealth are cumulative and they're likely to have,
over time, a more positive effect on consumer spending," Sam
Coffin, an economist at UBS Securities LLC in Stamford,
Connecticut, told Bloomberg. Looking ahead, gains will be "a bit
less rapid, but we do have continued improvement."

The value of financial assets, including stocks and pension fund
holdings, held by American households increased by $2.52 trillion
in the fourth quarter, Bloomberg said, citing the Fed report.


* Pa. Atty Gets 18 Months for Fraud After Judge Knocks Feds
-----------------------------------------------------------
Law360 reported that a Pennsylvania federal judge doled out an 18-
month prison sentence to a Bucks County, Pa., lawyer convicted of
conspiracy and fraud charges over mortgage loans to distressed
homeowners, in a case in which she cut the government's $14
million loss estimate to about $400,000.

According to the report, U.S. District Court Judge Mary A.
McLaughlin also ordered the attorney, Jeffrey A. Bennett, to
complete two years of supervised release and to pay a $7,500 fine,
a $400 special assessment, among other things.


* Restructuring Advisers Flock to Brazil
----------------------------------------
Emily Glazer and Luciana Magalhaes, writing for The Wall Street
Journal, reported that restructuring lawyers and turnaround
professionals are boosting teams and seeking partners in Brazil as
the number of troubled companies in the country grows.

The Journal recalled that in late January, Brazil President Dilma
Rousseff made her inaugural appearance at the World Economic Forum
in Davos, Switzerland, amid a campaign to reverse the country's
economic slowdown.  "Brazil needs and wants a partnership with
private investment," she said.

According to the report, some investment banks, such as Lazard
Ltd. and Rothschild, already have offices in Sao Paulo.
Meanwhile, bankers from Houlihan Lokey and Jefferies Group Inc.
have traveled to Brazil in recent months in hopes of developing
deals and finding partners, people familiar with the matter said.

Investment firm Blackstone Group, which has a large corporate
restructuring arm, has a joint-venture relationship with boutique
investment bank Patria Investments, the report related.  It also
has a 40% stake in the bank. Blackstone snagged a key role
advising OGX on its debt restructuring, along with Lazard.

Consulting firm AlixPartners has a group of its restructuring
executives working on matters related to EBX, the holding company
for Mr. Batista's firm, the report further related.  Alvarez &
Marsal, another turnaround firm, said its clients in the region
jumped about 35% in 2013 compared to 2012, and expects an increase
in clients facing distress in 2014 as well.


* BOOK REVIEW: MERCHANTS OF DEBT: KKR and the Mortgaging
               of American Business
------------------------------------------------------
Author: George Anders
Publisher: Beard Books
Softcover: 335 pages
List Price: $34.95
Review by Gail Owens Hoelscher
Order your copy today at
http://www.beardbooks.com/beardbooks/merchants_of_debt.html

"For the first fourteen years of KKR's existence, the buyout
firm's hallmark could be expressed in one word: debt.  As KKR
grew evermore powerful, Kravis and Roberts derived their
economic clout from a single fact: They could borrow more money,
faster, than anyone else," according to the chronicler of this
high-flying firm.  KKR acquired $60 billion worth of companies
in wildly different industries in the 1980s: Safeway Stores,
Duracell, Motel 6, Stop & Shop, Avis, Tropicana, and Playtex.
They made piles of money by deducting interest expenditures from
their taxes, cutting costs in their new companies and riding a
long-running bull market.

The juggernaut of Kohlberg Kravis Roberts & Co. began rolling in
1976 when Jerome Kohlberg and cousins Henry Kravis and George
Roberts left Bear, Stearns with about $120,000 to spend.  The
three wunderkind shortly invented and dominated the leveraged
buyout as they sought investors and borrowed money to acquire
Fortune 500 companies in dizzying succession.  They put up very
little money of their own funds, but their partnerships made out
like bandits.  Consider the case of Owens-Illinois: KKR pup up
only 4.7 percent of the purchase price.  The company's chairman
earned $10 million within a few years, the takeover advisors got
$60 million, Owens-Illinois was left "gaunt and scaled back,"
and about five years later, KKR took it public at $11 a share,
more than twice what the KKR partnership had paid for it.

In this reprint of his 1992 books, George Anders tells us how
they worked: "(t)ime after time, the KKR men presented a
tempting offer.  The CEO could cash out his company's existing
shareholders by agreeing to sell the company to a new group that
would be headed by KKR, but would include a lot of room for
existing management.  The new ownership group would take on a
lot of debt, but aim to pay it off quickly.  If this buyout
worked out as planned, the KKR men hinted, the new owners could
earn five times their money over the next five years.  Presented
with such a choice in the frenzied takeover climate of the
1980s, manages and corporate directors again and again said yes.
To top management a leveraged buyout was the most palatable way
to ride out the merger-and-acquisition craze."

The author includes a detailed appendix of KKR's 38 buyouts
during the period 1977-1992 that presents the following on each
purchase: price paid by KKR; percentage of the purchase price
paid by KKR's equity funds; length of time KKR owned the
company; financial payoff for the ownership group; and the
annualized profit rate for investors over the life of the
buyout.  KKR used less than 9 percent of its own funds in 18 of
the 38 cases.  In only four cases did KKR put up more than 30
percent of the price.  KKR owned the 38 companies for an average
of about 5 years.  As Anders puts it, "(a)s quickly as the KKR
men had roared into a company's life, they roared off."

This behind-the-scene account shows the ambition, pride, envy
and fear that characterized the debt mania largely engineered by
KKR, a mania that put millions out of work and made a very few
very rich.  This book is a must read in understanding what
happened to corporate America in the 1980s.

George Anders is the West Coast bureau chief of Fast Company
magazine.  He worked for two decades at the Wall Street Journal,
and was part of a seven-person reporting team that won the
Pulitzer Prize for national reporting in 1997.


                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com by e-mail.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to the nation's bankruptcy courts.  The
list includes links to freely downloadable of these small-dollar
petitions in Acrobat PDF documents.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Ivy B. Magdadaro, Carlo Fernandez,
Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2014.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-241-8200.


                  *** End of Transmission ***