TCR_Public/140408.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Tuesday, April 8, 2014, Vol. 18, No. 97

                            Headlines

19011 LLC: Voluntary Chapter 11 Case Summary
264 LENOX: Voluntary Chapter 11 Case Summary
4L TECHNOLOGIES: Moody's Assigns B2 Corp. Family Rating
7720 INDUSTRIAL: Case Summary & 6 Unsecured Creditors
ADELPHIA COMMS: 2nd Cir. Upholds Ruling for Goldman Sachs

AFFIRMATIVE INSURANCE: Posts $30.7 Million Net Income in 2013
ALLY FINANCIAL: Provides 2014 Summary of Stress Test Results
AMERICAN APPAREL: Selling 61 Million Shares at $0.50 Apiece
ATRIUM WINDOWS: Moody's Assigns Caa1 Corporate Family Rating
ATRIUM WINDOWS: S&P Assigns 'B-' CCR & Rates $300MM Notes 'B-'

BOREAL WATER: Former Auditor's Registration Revoked
BRAGG COMMUNICATIONS: Moody's Assigns Ba2 CFR; Outlook Stable
C & K MARKET: Hires Trucker Huss as Special Purpose Counsel
CAESARS ENTERTAINMENT: Director Housenbold Resigns
CANADIAN ENERGY: DBRS Confirms 'B' Issuer Rating

DIALYSIS NEWCO: S&P Assigns 'B' CCR & Rates $360MM Loan 'B'
CLAIRE'S STORES: Extends Exercise Period of Options for 5 Years
CLUB AT SHENANDOAH: Hearing on Cash Use Continued Until April 22
COASTLINE INVESTMENTS: Taps Levene Neale as General Counsel
CONSTAR INTERNATIONAL: Now Known as Capsule Int'l Holdings

COTTONWOOD ESTATES: Hires Parr Brown as Real Estate Counsel
COTTONWOOD ESTATES: Hires J. Philip Cook as Appraiser
CROWN MEDIA: Inks Severance Agreement with Annie Howell
CUE & LOPEZ: Court Prohibits Use of Cash Collateral
CUE & LOPEZ: Court Extends Exclusive Periods

CUE & LOPEZ: Position Papers on Examiner Appointment Due April 10
DIOCESE OF HELENA: Pachulski Approved as Committee Counsel
DIOCESE OF HELENA: Taps Patterson Buchanan on Sexual Abuse Claim
DOTS LLC: Creditors' Panel Hires Otterbourg as Counsel
DOTS LLC: Panel Hires FTI Consulting as Financial Advisor

DOTS LLC: Hires Hilco Streambank as Property Consultant
DUNLAP OIL: 2nd Amended Plan Confirmed; Pineda Request Denied
DUTCH LLC: Moody's Assigns 'B2' CFR & Rates $200M Term Loan 'B2'
DYNAVOX INC: Speech-Technology Company Files for Bankruptcy
DYNAVOX INC: Case Summary & 9 Unsecured Creditors

ELBIT IMAGING: Ron Hadassi Named Board Chairman
ENERGY TRANSFER: Fitch Rates $400MM Incremental Loan 'BB+'
ENERGY TRANSFER: $400MM Upsized Debt No Impact on Moody's Ba2 CFR
ENERGY TRANSFER: S&P Retains 'BB' Rating Following $400MM Add-On
EVERGREEN SKILLS: S&P Assigns 'B-' Corp. Credit Rating

EXPO DISPLAYS: Case Summary & 20 Largest Unsecured Creditors
FIRST FINANCIAL: Incurs $313,000 Net Loss in 2013
FIRST MARINER: Incurs $19.1 Million Net Loss in 2013
FIRST MARINER: Obtains Final OK on Equity Transfer Procedures
FOUR OAKS: Incurs $350,000 Net Loss in 2013

FREESEAS INC: Incurs $48.7 Million Net Loss in 2013
FRIENDSHIP DAIRIES: Mullin Hoard's Odell Withdraws From Case
FRIENDSHIP DAIRIES: Plan Confirmation Hearing Set for May 5
FURNITURE BRANDS: Has Deal With PBGC; To File Plan This Month
GENCO SHIPPING: Signs Up Deal for Debt Swap

GENERAL MOTORS: Safety Watchdog Presses for Air-Bag Probe
GENESIS HEALTHCARE: Moody's Lowers Longterm Bond Rating to 'Ba2'
GOLDSTONE MANAGEMENT: Unfinished NY Condo Files to Reorganize
GRAND CENTREVILLE: Hearing on Case Dismissal Moved to April 10
HDOS ENTERPRISES: Court Okays Scouler & Co as Financial Advisor

HDOS ENTERPRISES: Creditors' Panel Hires FTI as Fin'l Advisor
HERCULES OFFSHORE: Files Fleet Status Report as of March 24
HERCULES OFFSHORE: Gets Requisite Consents for Tender Offer
HOUSTON REGIONAL: Taps Conway MacKenzie as Financial Advisor
IAP WORLDWIDE: In Deal With Lender to Reduce Debt 80%

I M B C BLOWMOLDING: April 15 Creditors Meeting in Toronto
IMPULSE LLC: Love Night Club to Be Auctioned Off May 1
INSTITUTIONAL SHAREHOLDER: S&P Assigns Prelim B Corp Credit Rating
INTERFAITH MEDICAL: Names Melanie Cyganowski as New CRO
INTERFAITH MEDICAL: Wants to Hire Steven ToneyKorf as New CEO

JAMES RIVER: Files Ch. 11 to Restructure Balance Sheet
KENERGY SCIENTIFIC: Provides Update on Annual Report
KIDSPEACE CORP: Dilworth Paxson to Handle Bond Refinancing
LDK SOLAR: Subsidiary Files Insolvency Proceedings in Germany
LEHMAN BROTHERS: Okayed to Amend Schedules for IDB Settlement

LEHMAN BROTHERS: Settles Picbengro LLC Lawsuit
LEHMAN BROTHERS: Files 52nd Report on Claims Settlements
LEHMAN BROTHERS: Credican Taps Diaz Reus as Agent
LEHMAN BROTHERS: Agostini Trusts Drop Bid for Shares, Cash
LINC USA: Moody's Withdraws Caa2 CFR & Caa3 Sr. Secured Rating

MADISON PARK CHURCH: Chapter 11 Plan Declared Effective
MAGNACHIP SEMICONDUCTOR: Gets NYSE Listing Non-Compliance Notice
MARTIFER SOLAR: Panel Hires Larson & Zirzow as Local Counsel
MARTIFER SOLAR: Creditors' Panel Hires Pachulski Stang as Counsel
MARTINSON FARMS: Case Summary & 8 Unsecured Creditors

MICHAELS STORES: Board Okays 2014 Executive Bonus Plan
MOMENTIVE SPECIALTY: Incurs $634 Million Net Loss in 2013
MOUNTAIN PROVINCE: Gahcho Kue Project 17% Complete in February
MUNICIPAL MORTGAGE: Swings to $99.8 Million Net Income in 2013
NATCHEZ REGIONAL: Seeks to Reject Agreement with Valley Services

NATCHEZ REGIONAL: Seeks to Reject M.D. Properties Lease
NAVISTAR INTERNATIONAL: Offering $370 Million of Conv. Notes
NEWLEAD HOLDINGS: Issues 720,000 Add'l Settlement Shares to MGP
NORTHWOOD PROPERTIES: Case Summary & 20 Top Unsecured Creditors
NORTH ADAMS REGIONAL: April 8 Meeting Set to Discuss Crisis

NORTH LAS VEGAS: May Become Insolvent, Fitch Says
NRG ENERGY: Moody's Assigns B1 Rating on $1BB Sr. Unsec. Notes
OVERSEAS SHIPHOLDING: Taps Allen Miller as Litigation Counsel
OXFORD BIG BOY: Voluntary Chapter 11 Case Summary
P.T. TRANSPORT: Voluntary Chapter 11 Case Summary

PARK AVENUE BAR: Case Summary & 20 Largest Unsecured Creditors
PERSONAL COMMUNICATIONS: Gets Court Approval to Reject REP Leases
PERSONAL COMMUNICATIONS: Gets Court Approval to Settle CIT Claims
PERSONAL COMMUNICATIONS: Goodwin Seeks Release of Holdback Amount
PERSONAL COMMUNICATIONS: Signs Agreement With Brooks, et al

PHOENIX LLC: Case Summary & 20 Largest Unsecured Creditors
PROSPECT PARK: Wants to Hire Genovese as Bankruptcy Counsel
PROSPECT PARK: Taps Cousins Chipman as Delaware Counsel
PROVIDENT COMMUNITY: Suspending Filing of Reports with SEC
PUERTO RICO: Finance Arm Hires Bankruptcy Lawyers

PROSPECT SQUARE: Proposed Order on Continued Cash Use Filed
QUARTZ HILL: Hires Moffa & Bonacquisti as Special Counsel
RAINBOW SPRINGS: Case Summary & 6 Largest Unsecured Creditors
RESTORGENEX CORP: Obtains $250,000 Loan From Director
RICEBRAN TECHNOLOGIES: Completes $4.9MM Conv. Note Financing

RIH ACQUISITIONS: Hires Littler Mendelson as Special Counsel
RYNARD PROPERTIES: Taps Toni Campbell as Bankruptcy Counsel
SANITARY AND IMPROVEMENT: Voluntary Chapter 9 Case Summary
SECURITY NATIONAL: Court Approves Tuggle Duggins as Counsel
SHELBOURNE NORTH WATER: Amended Plan Deal Okayed

SKILLSOFT LTD: S&P lowers Corp. Credit Rating to 'B-'
SMHC LLC: Michigan Mobil Home Parks File for Reorganization
SOUND SHORE: Hires Ward Greenberg as Litigation Counsel
SWJ HOLDINGS: U.S. Trustee Asks Court to Dismiss or Convert
TELEPHONE AND DATA: S&P Lowers CCR to 'BB+'; Outlook Negative

TEXAS COMPETITIVE: S&P Lowers CCR to 'D' on Imminent Bankruptcy
THERAPEUTICSMD INC: Offering 9 Million Shares at $7.1 Apiece
TMT GENERAL: Queens Property to Be Sold at May 9 Auction
TOYS 'R' US: Moody's Lowers CFR to 'B3'; Outlook Negative
TRI-CITIES MEMORY: Voluntary Chapter 11 Case Summary

TRIAD CAMPUS: Section 341(a) Meeting Scheduled on May 13
TRIAD CAMPUS V: Case Summary & 4 Unsecured Creditors
WAFERGEN BIO-SYSTEMS: Stephen Baker Named CFO
WEIGHT WATCHERS: S&P Lowers CCR to 'B' on Low Profit Expectations
WOUND MANAGEMENT: Darren Stine Named Chief Financial Officer

YOSHI'S SAN FRANCISCO: Files Schedules of Assets and Liabilities
YOSHI'S SAN FRANCISCO: Files List of 20 Top Unsecured Creditors
YOSHI'S SAN FRANCISCO: Drops Bid to Pay Critical Vendors Claims

* MoFo's Garry Lee Named American Lawyer "Dealmaker of the Year"
* Weil Adds Andrew Wilkinson to European Restructuring Practice

* Large Companies With Insolvent Balance Sheets


                             *********


19011 LLC: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: 19011, LLC
           fka 1901, LLC
        1901 NW 7th Street
        Miami, FL 33125

Case No.: 14-17899

Chapter 11 Petition Date: April 6, 2014

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Hon. Jay Cristol

Debtor's Counsel: Don D. G. James, Esq.
                  LAW OFFICE OF DON JAMES, P.A.
                  2655 Le Jeune Rd PH 1D
                  Coral Gables, FL 33134
                  Tel: 305-441-6666
                  E-mail: donjamespa@aol.com

Total Assets: $1.2 million

Total Liabilities: $2.2 million

The petition was signed by Alfredo C. Garcia, manager.

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


264 LENOX: Voluntary Chapter 11 Case Summary
--------------------------------------------
Debtor: 264 Lenox, LLC
        3145 Coney Island Avenue
        Brooklyn, NY 11235

Case No.: 14-41650

Chapter 11 Petition Date: April 4, 2014

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

Judge: Hon. Carla E. Craig

Debtor's Counsel: Alla Kachan, Esq.
                  LAW OFFICES OF ALLA KACHAN, P.C.
                  415 Brighton Beach Avenue, 2nd Floor
                  Brooklyn, NY 11235
                  Tel: (718) 513-3145
                  Fax: (347) 342-3156
                  E-mail: alla@kachanlaw.com

Total Assets: $1.38 million

Total Liabilities: $1.34 million

The petition was signed by Saadia Shapiro, managing member.

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


4L TECHNOLOGIES: Moody's Assigns B2 Corp. Family Rating
-------------------------------------------------------
Moody's Investors Service assigned a B2 corporate family rating
("CFR") and B2-PD probability of default rating ("PDR") to 4L
Technologies Inc. ("4L Tech"). Moody's also assigned B2 ratings to
the company's proposed first lien senior secured credit
facilities, consisting of a $65 million revolving credit facility
due 2019 and $650 million term loan B due 2020. The ratings
outlook is stable.

The proceeds of the proposed $650 million term loan B will be used
to fund a $178 million dividend to the company's shareholders,
refinance existing debt, and pay fees and expenses related to the
proposed transaction. 4L Tech is majority owned by Golden Gate
Private Equity, Inc. ("Sponsor"). The assigned ratings are subject
to receipt and review of final documentation.

Pro forma for the dividend recapitalization transaction, Moody's
estimates that 4L Tech's leverage (total debt to EBITDA,
incorporating pro forma acquisition adjustments and Moody's
standard analytical adjustments) will increase to about 4.8 times
as of the fiscal year ended December 31, 2013. Moody's  consider
4L Tech to be weakly positioned within the B2 rating category,
given its elevated pro forma leverage, high albeit modestly
improving customer concentration and relatively soft operating
trends (experienced during the first half of 2013). While the B2
rating incorporates the aggressive financial policy of 4L Tech
resulting from its private equity ownership, it also recognizes
the history of sponsor support, demonstrated by 4L Tech's December
2013 "de-leveraging" purchase of the remaining 38.5% interest in
Refurb Holdings (that it did not own previously) from funds
contributed by a parent entity (4L Topco Corporation - outside the
credit group), which is ultimately majority owned by the sponsor.
4L Tech had earlier completed an add-on term loan transaction in
April 2013, which funded a $100 million dividend distribution to
4L TopCo Corporation.

The following ratings were assigned:

4L Technologies Inc.

  Corporate family rating at B2

  Probability of default rating at B2-PD

  $65 million first lien senior secured revolving credit facility
  due 2019 at B2 (LGD4, 51%)

  $650 million first lien senior secured term loan B due 2020 at
  B2 (LGD4, 51%)

Ratings Rationale

The B2 corporate family rating primarily considers 4L Tech's
elevated pro forma leverage of about 4.8 times, in the context of
the company's high business risk reflected in its focus on
remanufacturing and repair services for electronic assets across
narrow product segments consisting of imaging supplies, wireless
devices and telecom equipment. The rating is also constrained by
event risk in the form of any potential loss of key customer
contracts (especially on the wireless side) and a high degree of
execution risk as arguably future cash flows are highly dependent
on the continued availability and collection of used electronic
assets or "raw materials" through diverse channels. Furthermore,
the rating reflects 4L Tech's significant albeit modestly
improving customer concentration within the aforementioned product
categories, modest free cash flow generation, increasing
competition, acquisition risk and potential for additional
dividends given private equity ownership. Positive ratings
consideration is given to 4L Tech's market position as a provider
of remanufactured printer cartridges, contracts to repair and
refurbish a broad range of handsets for a growing list of wireless
carriers, long term relationships with key, strategic customers,
as well as cost and capability advantages afforded by vertical
integration across used electronic asset supply chains.

The stable outlook is based on our expectation that 4L Tech will
sustain organic growth trends across its imaging, wireless and
telecom segments, while diversifying its product and customer
base, resulting in positive free cash flow and adequate liquidity.

The ratings could be upgraded if 4L Tech organically grows its
earnings such that debt to EBITDA sustains below 3.0 times and
EBIT to Interest Expense remains above 2.5 times. An upgrade would
also require a much higher level of customer and product segment
diversification, as well as commitment to conservative financial
policies with regards to shareholder enhancement initiatives and
large, debt funded acquisitions.

The ratings could be downgraded if operating performance erosion,
loss of a key customer or debt-financed acquisition/dividend
results in debt to EBITDA sustained above 5.0 times or EBIT to
interest expense falling below 1.25 times. Any material
deterioration in the company's liquidity profile could also lead
to a lower rating.

4L Technologies Inc. collects, remanufactures and distributes
inkjet and laser printer cartridges, wireless devices and telecom
equipment through its network of 70 locations in North America,
Europe and Asia. The company's main customers include leading
office product retailers and wireless carriers in the United
States.


7720 INDUSTRIAL: Case Summary & 6 Unsecured Creditors
-----------------------------------------------------
Debtor: 7720 Industrial, LLC
        P.O. Box 1675
        Highland Park, IL 60035

Case No.: 14-12652

Chapter 11 Petition Date: April 4, 2014

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Hon. Pamela S. Hollis

Debtor's Counsel: Paul M Bach, Esq.
                  SULAIMAN LAW GROUP, LTD.
                  900 Jorie Boulevard, Suite 150
                  Oak Brook, IL 60523
                  Tel: (630)575-8181
                  E-mail: ecfbach@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ila Lynn, manager.

A list of the Debtor's six largest unsecured creditors is
available for free at http://bankrupt.com/misc/ilnb14-12652.pdf


ADELPHIA COMMS: 2nd Cir. Upholds Ruling for Goldman Sachs
---------------------------------------------------------
The Adelphia Recovery Trust, an entity created to represent the
non-whole creditors of bankrupt cable company Adelphia
Communications Corp., appeals from Judge McKenna's grant of
summary judgment dismissing its fraudulent conveyance claim
against Goldman, Sachs & Co.  In such a fraudulent conveyance
claim, the Trust may recover only property owned by the parent-
company debtor.  The various schedules and Chapter 11 plan, which
were consummated with the agreement of the Trust and its
predecessors in interest in the bankruptcy proceeding, all treated
the property transferred as owned by a separate subsidiary.

In an April 4, 2014 order, the United States Court of Appeals,
Second Circuit, affirmed on grounds of judicial estoppel.

The Trust's action against Goldman alleges a fraudulent conveyance
under 11 U.S.C. Sections 548(a)(1)(A) and 550(a). It arose out of
a 1999 multi-million margin loan that Goldman had extended to
Highland Holdings II LLP, an entity owned by the Rigas family
unconnected to Adelphia.  The loan, which was secured by ACC stock
owned by Highland, was allegedly used by the Rigases to purchase
additional ACC stock and thereby to maintain their control over
Adelphia.  As ACC's stock price decreased following the disclosure
of the fraudulent concealment of debt in 2002, Goldman issued
several margin calls to Highland.  The complaint alleged that the
Rigases caused ACC to make cash payments of $63 million to cover
these margin calls.

Records show that pertinent payments were made either: (i)
directly to Goldman from a Concentration Account, which contained
most of the funds in the cash management system through which the
collective cash of ACC and its subsidiaries was managed; or (ii)
indirectly from the Concentration Account through a Rigas family
entity and then to Goldman.  The Trust seeks to recover the $63
million.

In the district court, and the Circuit Court, the Trust faced the
problem that the payments to Goldman were made in the name of the
subsidiary, Adelphia Cablevision LLC, that held the Concentration
Account and that has paid all its scheduled creditors, which did
not include ACC, in full.  Accordingly, the Trust lacked standing
to sue the subsidiary.  It therefore argued that ACC was the real
owner of, and payor from, the Concentration Account.  The district
court disagreed and granted Goldman's motion for summary judgment.

According to the Second Circuit, "the asset schedules showing that
the Concentration Account was held by a subsidiary of ACC were
approved by appellant's predecessors in interest. The bankruptcy
court adopted the asset schedules and approved a plan of
reorganization that treated ACC separately from its subsidiaries
based on those schedules.  Revisiting the accuracy of those
schedules to permit the present action to proceed would clearly
threaten the integrity of bankruptcy proceedings.  We, therefore,
hold that appellant's complaint is barred by the doctrine of
judicial estoppel. The judgment of the district court is
affirmed."

A copy of the Second Circuit's decision is available at
http://is.gd/Pof4Msfrom Leagle.com.

The Second Circuit panel consists of Circuit Judges Winter,
Walker, and Cabranes.  Circuit Judge Winter penned the decision.

The Trust is represented by:

     David M. Friedman, Esq.
     Michael C. Harwood, Esq.
     Howard W. Schub, Esq.
     KASOWITZ, BENSON, TORRES & FRIEDMAN, LLP

Goldman is represented by:

     Melvin A. Brosterman, Esq.
     Claude G. Szyfer, Esq.
     Francis C. Healy, Esq.
     STROOCK & STROOCK & LAVAN LLP

The case is, ADELPHIA RECOVERY TRUST v. GOLDMAN, SACHS & CO.
Docket No. 11-1858-cv (2nd Cir.)

                   About Adelphia Communications

Based in Coudersport, Pennsylvania, Adelphia Communications
Corporation was once the fifth-biggest cable company.  Adelphia
served customers in 30 states and Puerto Rico, and offered analog
and digital video services, Internet access and other advanced
services over its broadband networks.

Adelphia collapsed in 2002 after disclosing that founder John
Rigas and his family owed $2.3 billion in off-balance-sheet debt
on bank loans taken jointly with the company.  Mr. Rigas was
sentenced to 12 years in prison, while son Timothy 15 years.

Adelphia Communications and its more than 200 affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 02-41729) on
June 25, 2002.  Willkie Farr & Gallagher represented the Debtors
in their restructuring effort.  PricewaterhouseCoopers served as
the Debtors' financial advisor.  Kasowitz, Benson, Torres &
Friedman LLP and Klee, Tuchin, Bogdanoff & Stern LLP represented
the Official Committee of Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas-Managed Entities, were
entities that were previously held or controlled by members of the
Rigas family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision LLC.  The RME Debtors filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-10642) on March 31,
2006.  Their cases were jointly administered under Adelphia
Communications and its debtor-affiliates' Chapter 11 cases.

The Bankruptcy Court confirmed the Debtors' Joint Chapter 11 Plan
of Reorganization on Jan. 5, 2007.  That plan became effective on
Feb. 13, 2007.

The Adelphia Recovery Trust, a Delaware Statutory Trust, was
formed pursuant to the Plan.  The Trust holds certain litigation
claims transferred pursuant to the Plan against various third
parties and exists to prosecute the causes of action transferred
to it for the benefit of holders of Trust interests.  Lawyers at
Kasowitz, Benson, Torres & Friedman, LLP (NYC), represent the
Adelphia Recovery Trust.


AFFIRMATIVE INSURANCE: Posts $30.7 Million Net Income in 2013
-------------------------------------------------------------
Affirmative Insurance Holdings, Inc., filed with the U.S.
Securities and Exchange Commission its annual report on Form 10-K
disclosing net income of $30.71 million on $246.12 million of
total revenues for the year ended Dec. 31, 2013, as compared with
a net loss of $51.91 million on $209.76 million of total revenues
in 2012.

As of Dec. 31, 2013, the Company had $386.84 million in total
assets, $489.73 million in total liabilities and a $102.89 million
total stockholders' deficit.

KPMG LLP, in Dallas, Texas, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2013.  The independent auditors noted that the Company's
recent history of recurring losses from operations and its
probable failure to comply with certain financial covenants in the
senior secured and subordinated credit facilities in 2014 raise
substantial doubt about its ability to continue as a going
concern.

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

                        http://is.gd/koRhhl

                    About Affirmative Insurance

Addison, Tex.-based Affirmative Insurance Holdings, Inc., is a
distributor and producer of non-standard personal automobile
insurance policies for individual consumers in targeted geographic
markets.  Non-standard personal automobile insurance policies
provide coverage to drivers who find it difficult to obtain
insurance from standard automobile insurance companies due to
their lack of prior insurance, age, driving record, limited
financial resources or other factors.  Non-standard personal
automobile insurance policies generally require higher premiums
than standard automobile insurance policies for comparable
coverage.

The Company's balance sheet at Sept. 30, 2013, showed $386.03
million in total assets, $476.73 million in total liabilities and
a $90.70 million total stockholders' deficit.

"At December 31, 2012, the Company's history of recurring losses
from operations, its failure to comply with the Financial
Covenants in its senior secured credit facility, its failure to
comply with the Illinois Department of Insurance reserve
requirement, and substantial liquidity needs the Company would
face when the senior secured credit facility was set to expire in
January 2014 raised substantial doubt about the Company's ability
to continue as a going concern," the Company said in the quarterly
report for the period ended Sept. 30, 2013.


ALLY FINANCIAL: Provides 2014 Summary of Stress Test Results
------------------------------------------------------------
Ally Financial Inc. furnished a summary of estimates from the Ally
Financial Inc. Dodd-Frank Act Stress Test and Comprehensive
Capital Analysis and Review 2014.

As required under the rules published by the Federal Reserve and
the Federal Deposit Insurance Corporation to address the Dodd-
Frank Act Stress Test requirements, Ally Financial Inc. and Ally
Bank are providing a summary of stress test results from the
Supervisory Severely Adverse scenario as prescribed by the
Regulators in the Comprehensive Capital Analysis and Review
exercise.  The Severe scenario and the related forecasts of
macroeconomic variables were developed by the Regulators to be
comparable to the most severe historical post-war U.S. recessions.

A copy of the Ally Financial Inc. Dodd-Frank Act Stress Test &
Comprehensive Capital Analysis and Review 2014 Estimates in the
Supervisory Severely Adverse Scenario is available for free at:

                  free at http://is.gd/8c8Ck0

                      About Ally Financial

Ally Financial Inc., formerly GMAC Inc. -- http://www.ally.com/--
is one of the world's largest automotive financial services
companies.  The Company offers a full suite of automotive
financing products and services in key markets around the world.
Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank,
offers online retail banking products.  Ally operates as a bank
holding company.

GMAC obtained a $17 billion bailout from the U.S. government in
exchange for a 56.3 percent stake.  Private equity firm Cerberus
Capital Management LP keeps 14.9 percent, while General Motors Co.
owns 6.7 percent.

As of Dec. 31, 2013, the Company had $151.16 billion in total
assets, $136.95 billion in total liabilities and $14.20 billion in
total equity.

                           *     *     *

As reported by the TCR on Dec. 16, 2013, Standard & Poor's Ratings
Services said it raised its issuer credit rating on Ally Financial
Inc. to 'BB' from 'B+'.  "The upgrade reflects the company's
release from potential legal and financial liabilities stemming
from its ownership of ResCap," said Standard & Poor's credit
analyst Tom Connell.

In the Dec. 17, 2013, edition of the TCR, Fitch Ratings upgraded
Ally Financial's long-term Issuer Default Rating (IDR) and senior
unsecured debt rating to 'BB' from 'BB-'.  The upgrade of Ally's
ratings follows the approval of Residential Capital LLC's
(ResCap's) bankruptcy plan by the Bankruptcy Court releasing Ally
from all ResCap related claims, which combined with the recent
mortgage settlements with the FHFA and the FDIC, essentially
removes any mortgage-related contingent liability to Ally.

As reported by the TCR on Dec. 23, 2013, Moody's Investors Service
upgraded the corporate family rating (CFR) of Ally Financial Inc.
to Ba3 from B1.  The upgrade of Ally's corporate family rating
follows the U.S. Bankruptcy Court's approval of ResCap LLC's
(unrated) Chapter 11 plan, which releases Ally from mortgage-
related creditor claims originating from its ownership of ResCap.

                    About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its mortgage servicing and origination platform assets to Ocwen
Loan Servicing, LLC and Walter Investment Management Corporation
for $3 billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11
Plan co-proposed by Residential Capital and the Official Committee
of Unsecured Creditors.


AMERICAN APPAREL: Selling 61 Million Shares at $0.50 Apiece
-----------------------------------------------------------
American Apparel, Inc., priced an underwritten public offering of
61,000,000 shares of its common stock at a price to the public of
$0.50 per share.  The Company intends to use the net proceeds of
the offering to fund working capital and for general corporate
purposes, including its April 2014 cash interest payment on the
Company's senior secured notes.

The Company granted to the underwriters a 30-day option to
purchase up to 9,150,000 additional shares of its common stock to
cover over-allotments, if any.  The Company's common stock is
listed on the NYSE MKT under the symbol "APP."  The offering is
expected to close on or about March 31, 2014, subject to customary
closing conditions.

Roth Capital Partners is acting as sole book-running manager, and
Brean Capital and National Securities Corporation, a wholly-owned
subsidiary of National Holdings, Inc. (NHLD), are acting as co-
managers for the offering.

The shares of common stock will be issued pursuant to an effective
shelf registration statement on Form S-3 previously filed with the
Securities and Exchange Commission.  A preliminary prospectus
supplement related to the offering was filed with the SEC and is
available on the SEC?s website located at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus related to the offering may be obtained from Roth
Capital Partners, Attention: Equity Capital Markets, 888 San
Clemente Drive, Newport Beach, CA 92660, (800) 678-9147.

Additional information is available for free at:

                       http://is.gd/ArIJ6U

                      About American Apparel

Los Angeles, Calif.-based American Apparel, Inc. (NYSE Amex: APP)
-- http://www.americanapparel.com/-- is a vertically integrated
manufacturer, distributor, and retailer of branded fashion basic
apparel.  As of September 2010, American Apparel employed over
10,000 people and operated 278 retail stores in 20 countries,
including the United States, Canada, Mexico, Brazil, United
Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, the
Netherlands, Spain, Sweden, Switzerland, Israel, Australia, Japan,
South Korea and China.

Amid liquidity problems and declining sales, American Apparel in
early 2011 reportedly tapped law firm Skadden, Arps, Slate,
Meagher & Flom and investment bank Rothschild Inc. for advice on a
restructuring.

In April 2011, American Apparel said it raised $14.9 million in
rescue financing from a group of investors led by Canadian
financier Michael Serruya and private equity firm Delavaco Capital
Corp., allowing the casual clothing retailer to meet obligations
to its lenders for the time being.  Under the deal, the investors
were buying 15.8 million shares of common stock at 90 cents
apiece.  The deal allows the investors to purchase additional
27.4 million shares at the same price.

The Company incurred a net loss of $37.27 million in 2012, as
compared with a net loss of $39.31 million in 2011.  The Company's
balance sheet at Sept. 30, 2013, showed $332.93 million in total
assets, $389.12 million in total liabilities and a $56.19 million
total stockholders' deficit.

                           *     *     *

As reported by the Troubled Company Reporter on Feb. 26, 2014,
Standard & Poor's Ratings Services lowered its corporate credit
rating to 'CCC' from 'B-' on Los Angeles-based American Apparel
Inc.  The outlook is developing.

The Troubled Company Reporter, on Nov. 21, 2013, reported that
American Apparel Inc. had its corporate family rating cut one
level to Caa2 by Moody's Investors Service.  The clothing
retailer's probability of default was also lowered one level and
the outlook is negative.


ATRIUM WINDOWS: Moody's Assigns Caa1 Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service assigned Atrium Windows and Doors, Inc.
Corporate Family Rating of Caa1 and Probability of Default Rating
Caa1-PD. Also, Moody's rated Atrium's proposed $300MM Senior
Secured Notes at Caa1 and assigned speculative-grade liquidity
(SGL) assessment of SGL-3. The rating outlook is stable.

The proceeds from the $300 million note issuance along with other
debt (not rated) will be used to refinance the company's current
debt securities that include a term loan, revolving credit
facility, and mezzanine notes.

The following ratings were assigned (LGD point estimates are
subject to change and all ratings are subject to the execution of
the transaction as currently proposed and Moody's review of final
documentation):

Corporate Family Rating, assigned Caa1;

Probability of Default Rating, assigned Caa1-PD;

Proposed $300 million Senior Secured Notes, assigned Caa1 (LGD3,
44%);

Speculative-grade liquidity assessment, assigned SGL-3;

The rating outlook is stable.

Ratings Rationale

The Caa1 Corporate Family Rating considers Atrium's elevated debt
burden and limited EBITDA generation resulting in adjusted debt
leverage above 7x over the next 12-18 months. Atrium is weakly
positioned in the Caa1 rating category as limited interest
coverage and negative free cash flow, together with elevated debt
leverage, weigh on the company's performance and Moody's outlook.
In addition to the weak credit metrics, the Caa1 Corporate Family
Rating is constrained by the company's cyclical and seasonal end
markets that include new home construction and repair and
remodeling industries. Furthermore, the company's history of
restructuring its balance sheet multiple times is a concern.

At the same time, the company's Caa1 Corporate Family Rating
benefits from the low near term refinancing risk resulting from
this transaction as there are no maturities in the near term with
the earliest maturity date in 2019. Furthermore, the rating
considers the expected benefit associated with continuing cost
reduction programs and the company's focus on improving the
product portfolio through innovation and stringent quality control
processes. Moreover, the residential new construction market, from
where the company derives about 40% of revenues is anticipated to
continue to expand in 2014.

The Speculative-Grade Liquidity Assessment of SGL-3 indicates that
the company's liquidity profile is projected to be adequate in the
next 4-6 quarters. Moody's projects Atrium to show negative free
cash flow generation during the next 12 months and the company may
need to use its revolving credit facility in order to finance
internal cash needs.

The stable ratings outlook reflects Moody's projections that
credit metrics are not going to change significantly over the next
12-18 months despite the projected growth in Atrium's end markets.

The ratings could be downgraded or outlook changed to negative, if
Atrium's liquidity profile weakens; interest coverage
(EBITA/interest expense) falls below 1x; revenues continue to
decline; and/or there's deterioration in margins. Furthermore, the
rating could be downgraded or outlook changed to negative, if the
company is not able to execute its proposed initiatives.

The Caa1 rating is not expected to be upgraded in the near-term.
However, ratings could be upgraded or outlook changed to positive
if the company's debt leverage declines below 6x on a sustained
basis and interest coverage is comfortably over 1.5x. Further,
improvement in the liquidity profile including positive free cash
flow generation will be needed for the ratings to be upgraded.

Atrium Windows and Doors, Inc., located in Dallas, TX, is a
manufacturer of residential vinyl and aluminum windows in North
America. Golden Gate Capital is the majority owner of Atrium.
Revenues in 2013 amounted to $380 million.


ATRIUM WINDOWS: S&P Assigns 'B-' CCR & Rates $300MM Notes 'B-'
--------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B-'
corporate credit rating to Dallas-based Atrium Windows and Doors
Inc.  The outlook is positive.

At the same time, S&P assigned its 'B-' issue-level rating (the
same level as the corporate credit rating) and '4' recovery rating
to Atrium's proposed $300 million five-year senior secured notes.
The '4' recovery rating on the notes indicates S&P's expectation
for average (30% to 50%) recovery in the event of payment default.

S&P do not thinks the company will face any financial covenant
issues, because a fixed-charge covenant is applied only if
availability is less than $5 million under the ABL.  Given S&P's
projections, it expects Atrium to maintain enough availability to
not trigger the fixed-charge covenant.  The nearest debt maturity
will occur in 2019, when the company's ABL and senior notes would
mature.

"The positive outlook reflects our expectation that Atrium's debt
to EBITDA leverage will improve from more than 7x currently," said
Standard & Poor's credit analyst Thomas Nadramia.  "If recent cost
savings and reductions in waste and other expenses result in
sustainably higher profit margins, debt to EBITDA could drop to
less than 5x.  We could raise our rating one notch if this
occurs."

S&P could lower Atrium's ratings if projected free cash flow
declined to break-even levels and the ABL availability declined to
less than $15 million.  This could occur if the company is unable
to sustain its improved profits and hit its growth targets because
of an unexpected pullback in new home and remodeling activity or
renewed price pressure from competing window and door
manufacturers.


BOREAL WATER: Former Auditor's Registration Revoked
---------------------------------------------------
Boreal Water Collection, Inc.'s former auditor, Patrick E.
Rodgers, had his registration revoked by the Public Company
Accounting Oversight Board on March 6, 2014, according to the
Company's Form 8-K filed with the U.S. Securities and Exchange
Commission.

Mr. Rodgers and his accounting firm, Patrick E. Rodgers, CPA, PA,
were censured by the Board.  His firm's registration was revoked
and he is barred from associating with a registered accounting
firm.  The Order states the Board took this action as a result of
Mr. Rodgers' failure to perform 4 years of audits for one of his
clients (not Boreal Water Collection, Inc.) in accordance with
Board rules and auditing standards.  The Order states that Mr.
Rodgers can apply for re-instatement with the Board two years from
the date of the Order.

Mr. Rodgers has supplied the Company with a letter stating that he
agrees in all respects with the statements made in the Report.

"I have read Item 4.01 of Form 8-K/A dated March 21, 2014 of
Boreal Water Collection, Inc. and I am in agreement with such
statements, insofar as they apply to Patrick Rodgers, CPA, PA,"
the Letter states.

                         About Boreal Water

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

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

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


BRAGG COMMUNICATIONS: Moody's Assigns Ba2 CFR; Outlook Stable
-------------------------------------------------------------
Moody's Investors Service assigned a Ba2 corporate family rating
to Bragg Communications Inc. (Bragg) and assigned a Ba3-PD
probability of default rating. At the same time, the company's
senior secured credit facility was rated Ba2. Moody's also
assigned a speculative grade liquidity (SGL) rating of SGL-2 (good
liquidity). Bragg was assigned a stable ratings outlook.

The following summarizes Moody's ratings actions for Bragg
Communications Inc.:

Issuer: Bragg Communications Inc.

Corporate Family Rating: Assigned Ba2

Probability of Default Rating: Assigned Ba3-PD

Outlook: Assigned Stable

Speculative Grade Liquidity Rating: Assigned SGL-2

Senior Secured Credit Facility: Assigned Ba2 (LGD3, 33%)

Rating Rationale

Bragg's Ba2 corporate family rating is based on our expectation of
sustained positive free cash flow and Debt/EBITDA leverage being
maintained in a range appropriate for a Ba-rated cable television
company with Bragg's attributes, supported by industry-leading
margins, a quad-play capability with the company's new wireless
service, stable and sustainable demand, and rational competition.
Moody's anticipate modest EBITDA growth as competition remains
elevated, growth stagnates in fixed-line operations, and Bragg's
facilities-based wireless broadband services operation gains
traction in the company's core Nova Scotia and Prince Edward
Island markets. The rating also anticipates that Bragg will
maintain solid liquidity.

Rating Outlook

The outlook is stable because Bragg has the ability to generate
sustainable positive free cash flow with Debt/EBITDA leverage
maintained a range appropriate for a Ba-rated cable television
company with Bragg's attributes.

What Could Change the Rating - UP

The rating could be upgraded were total debt-to-EBITDA expected to
be maintained at or above a range appropriate for a Baa-rated
cable television company, and free cash flow expected to be
sustained with a range appropriate for a Ba-rated cable television
company, as well as, generally positive business environment,
stable business portfolio and solid liquidity arrangements.

What Could Change the Rating - DOWN

The rating could be downgraded if total debt-to-EBITDA was
expected to be maintained at or below a range appropriate for a B-
rated cable television company and free cash flow was expected to
be a modest proportion of total debt, or if liquidity arrangements
were anticipated to deteriorate. Deteriorating business conditions
or an unexpected increase in competition would most likely be the
cause.

Headquartered in Halifax, Nova Scotia, Bragg Communications Inc.
(Bragg) is a diversified Canadian communications company whose
core business is providing cable-based television, internet,
telephone service and wireless services to consumers, primarily in
Eastern Canada.


C & K MARKET: Hires Trucker Huss as Special Purpose Counsel
-----------------------------------------------------------
C & K Market, Inc. seeks permission from the U.S. Bankruptcy Court
for the District of Oregon to employ Trucker Huss APC as special
purpose counsel, nunc pro tunc to Nov. 19, 2013.

The Debtor desires to employ Trucker Huss as special purpose
counsel in this Chapter 11 case, pursuant to Section 327(e) of the
Code, to provide retirement plan, health and welfare plan, and
other employee benefits advice and consulting to the Debtor,
consistent with Trucker Huss' representation of the Debtor prior
to the filing of Debtor's Chapter 11 petition.

Trucker Huss served as the Debtor's health and welfare plan and
employee benefits counsel prepetition, and the Debtor desires that
Trucker Huss continue to provide such services post-petition.

Trucker Huss will be paid at these hourly rates:

       R. Bradford Huss           $675
       Nicholas J. White          $600
       Callan G. Carter           $575
       Jennifer D. Brooks         $525

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

From the Petition Date through Feb. 28, 2014, Trucker Huss
incurred post-petition fees for services performed for the Debtor
in the amount of $15,500.50.  The Debtor has not paid Trucker Huss
for any of these services.

R. Bradford Huss, director of Trucker Huss, 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.

Trucker Huss can be reached at:

       R. Bradford Huss, Esq.
       TRUCKER HUSS APC
       One Embarcadero Center, 12th Floor
       San Francisco, CA 94111-3617
       Tel: (415) 788-3111
       Fax: (415) 421-2017
       E-mail: bhuss@truckerhuss.com

                       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.


CAESARS ENTERTAINMENT: Director Housenbold Resigns
--------------------------------------------------
Mr. Jeffrey T. Housenbold informed about his resignation from his
position as a director of Caesars Entertainment Corporation
effective March 28, 2014, for personal reasons.  Mr. Housenbold
has served the Company as an independent director and as a member
of the Company's Audit Committee since 2011.

There are no disagreements between Mr. Housenbold and the Company
that caused or contributed to his decision.

                   About Caesars Entertainment

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

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

The Company incurred a net loss of $1.49 billion on $8.58 billion
of net revenues for the year ended Dec. 31, 2012, as compared with
a net loss of $666.70 million on $8.57 billion of net revenues
during the prior year.  The Company's balance sheet at Sept. 30,
2013, showed $26.09 billion in total assets, $27.59 billion in
total liabilities and a $1.49 billion total deficit.

                           *     *     *

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

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

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

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


CANADIAN ENERGY: DBRS Confirms 'B' Issuer Rating
------------------------------------------------
DBRS Inc. has confirmed the Issuer Rating and Senior Unsecured
Notes rating of Canadian Energy Services & Technology Corp. (CES
or the Company) at B (high), with Stable trends.  The recovery
rating for the Senior Unsecured Notes is RR4.  The confirmation
reflects DBRS's expectation that CES will continue to grow its
Drilling Fluids and Production and Specialty Chemicals business
organically and through acquisitions, while maintaining its key
credit metrics in line with the current rating category.  The
confirmation also reflects the expectation that CES will have
sufficient liquidity to fund planned capital expenditures (capex)
and operations over the near-term.

CES's business risk profile is considered B (high).  CES's key
challenge is its significant exposure to volatile oil and gas
drilling activities, given its small size compared to its peers.
Any material decline in oil and gas drilling activities or change
in drilling technology would have a significant, negative impact
on CES.  In 2013, the Company continued to strengthen its position
in the drilling fluids (approximately 66% of EBITDA) market in
Canada (31% market share) and the United States (8% market share)
through organic growth and the acquisition of Venture Mud One L.P.
(Venture Mud).  In addition, the acquisition of JACAM Chemical
Company, Inc. (JACAM) provided CES with greater geographic
diversification and increased cash flows from a relatively more
stable Production and Specialty Chemicals business.  Going
forward, CES's growth is expected to be largely from the
Production and Specialty Chemicals segment and from the United
States.

CES's key credit metrics are currently in the B (high) range.  The
acquisitions of JACAM and Venture Mud in 2013 were primarily
funded with debt, which weakened CES's key credit metrics
significantly.  Although the key credit metrics are currently in
line with CES's rating category, this reduces its financial
flexibility to withstand any material cash flow declines.  Over
the medium-term, the Company is expected to generate positive free
cash flow as cash flows grow.  Should CES reduce its debt-to-cash
flow ratio to below 2.0 times and its debt-to-capital ratio to
below 40% on a sustained basis, it could result in a positive
rating action.  However, should leverage increase further due to
either weaker cash flow or higher debt borrowings for future
acquisitions, it could trigger a negative rating action.  CES is
expected to have sufficient liquidity from its senior credit
facility (the Senior Facility; $66 million available as of
December 31, 2013) and operating cash flows to fund planned capex
and ongoing operations (including working capital needs) over the
near-term.


DIALYSIS NEWCO: S&P Assigns 'B' CCR & Rates $360MM Loan 'B'
-----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Nashville, Tenn.-based Dialysis Newco.  The
outlook is stable.

At the same time, S&P assigned its 'B' credit rating to Dialysis
Newco's $40 million revolving credit agreement and $360 million
first-lien term loan B.  S&P's recovery rating on this debt is
'3', indicating its expectation for meaningful (50% to 70%)
recovery of principal in the event of payment default.  S&P
assigned its 'CCC+' credit rating to Dialysis Newco's $160 million
second-lien term loan.  S&P's recovery rating on this debt is '6',
indicating its expectation for negligible (0%-10%) recovery of
principal in the event of payment default.

"The ratings on Dialysis Newco reflect its "weak" business risk
profile and "highly leveraged" financial risk profile.  Key credit
factors considered in S&P's business risk assessment include its
narrow business focus on dialysis services, heavy reliance on
Medicare, minimal market share in an industry dominated by two
companies, and facilities with characteristics that we view
as somewhat less favorable relative to those of its peers," said
credit analyst David Peknay.  "We also recognize the positive
attributes of the dialysis sector, such as steady demand from
patients with end-stage renal disease for essential dialysis
treatments.  Dialysis Newco's financial risk profile is
characterized by its highly leveraged capital structure, with a
debt-to-EBITDA ratio pro forma for the pending transaction above
6x, and aggressive financial policy."

S&P's stable rating outlook on Dialysis Newco reflects its
expectation that leverage will remain above 5x for at least the
next two years, with the increase in debt incurred to fund
shareholder dividends largely offsetting the growth in revenue and
EBITDA the company experienced in 2013 mainly resulting from the
full implementation of its large acquisition of 54 clinics in
March 2012.  S&P believes there is potential for leverage to
remain elevated, given the combination of reimbursement risk and a
more aggressive financial policy.

Downside scenario

S&P could lower its rating if it expects Dialysis Newco to sustain
leverage above 8x or if it is unable to generate discretionary
cash flow (excluding the large dividend) in 2014.  This could
occur if a combination of adverse reimbursement changes that
lowers revenue per treatment or an increase in cost per treatment
result in an EBITDA margin decline in excess of 300 basis points.
Additional debt-financed shareholder dividends could also
contribute to a downgrade.

Upside scenario

S&P could raise the rating if leverage falls below 5x and it
expects it to remain there.  To achieve this level, S&P believes
it would take a combination of relatively favorable third-party
reimbursement rates, patient treatment volume increases, and a
lower cost structure.  A more conservative financial policy would
be a significant component of the sustainability of this target.


CLAIRE'S STORES: Extends Exercise Period of Options for 5 Years
---------------------------------------------------------------
Upon the recommendation of its Compensation Committee, the Board
of Directors of Claire's Inc., the parent corporation of Claire's
Stores, Inc., approved amendments to certain fully vested stock
options outstanding under Parent's Amended and Restated Stock
Incentive Plan to extend the exercise period of those fully vested
stock options for a period of an additional five years.

Under the Plan, 895,250 options granted during the Company's
fiscal year 2007 are outstanding and were scheduled to expire on
the seventh anniversary of the grant date; 220,250 options granted
during the Company's fiscal year 2008 are outstanding and were
scheduled to expire on the seventh anniversary of the grant date;
and 84,750 options granted during the Company's fiscal year 2009
are outstanding and were scheduled to expire on the seventh
anniversary of the grant date.  All Expiring Options entitle the
holder to purchase one share of Parent's common stock at an
exercise price of $10.00 per share.  All Expiring Options are
fully vested.

As a result of the Amendments, the 2007 Options will expire on the
anniversary of the applicable grant date in fiscal 2019, the 2008
Options will expire on the anniversary of the applicable grant
date in fiscal 2020, and the 2009 Options will expire on the
anniversary of the applicable grant date in fiscal 2021.  Except
for the extension of the scheduled expiration dates, the terms of
the Expiring Options are unchanged by the Amendments.

The Expiring Options are held by approximately 75 employees and
directors.  Among the employees holding Expiring Options is J. Per
Brodin, the Company's executive vice president and chief financial
officer.  Mr. Brodin holds 60,000 of the 2008 Options.

                        About Claire's Stores

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of Jan. 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores also operates through its subsidiary,
Claire's Nippon, Co., Ltd., 213 stores in Japan as a 50:50 joint
venture with AEON, Co., Ltd.  The Company also franchises 198
stores in the Middle East, Turkey, Russia, South Africa, Poland
and Guatemala.

Claire's Stores disclosed net income of $1.28 million on $1.55
billion of net sales for the fiscal year ended Feb. 2, 2013, as
compared with net income of $11.63 million on $1.49 billion of net
sales for the fiscal year ended Jan. 28, 2012.

The Company's balance sheet at Nov. 2, 2013, showed $2.73 billion
in total assets, $2.81 billion in total liabilities and a $89.32
million stockholders' deficit.

                         Bankruptcy Warning

The Company said the following statement in its annual report for
the fiscal year ended Feb. 2, 2013.

"If we are unable to generate sufficient cash flow and are
otherwise unable to obtain funds necessary to meet required
payments of principal, premium, if any, and interest on our
indebtedness, or if we otherwise fail to comply with the various
covenants, including financial and operating covenants in the
instruments governing our indebtedness, we could be in default
under the terms of the agreements governing such indebtedness.  In
the event of such default:

   * the holders of such indebtedness may be able to cause all of
     our available cash flow to be used to pay such indebtedness
     and, in any event, could elect to declare all the funds
     borrowed thereunder to be due and payable, together with
     accrued and unpaid interest;

   * the lenders under our Credit Facility could elect to
     terminate their commitments thereunder, cease making further
     loans and institute foreclosure proceedings against our
     assets; and

   * we could be forced into bankruptcy or liquidation," according
     to the Company's annual report for the fiscal year ended
     Feb. 2, 2013.

                           *     *     *

As reported by the TCR on Oct. 1, 2012, Moody's Investors Service
upgraded Claire's Stores, Inc.'s Corporate Family and Probability
of Default ratings to Caa1 from Caa2.  The upgrade of Claire's
Corporate Family Rating to Caa1 reflects its ability to address
its substantial term loan maturity in 2014 by refinancing it with
a $625 million add-on to its existing senior secured first lien
notes due 2019.

Claire's Stores, Inc., carries a 'B-' corporate credit rating from
Standard & Poor's Ratings Services.


CLUB AT SHENANDOAH: Hearing on Cash Use Continued Until April 22
----------------------------------------------------------------
The Bankruptcy Court continued until April 22, 2014, at 2:00 p.m.,
the hearing to consider The Club at Shenandoah Springs Village,
Inc.'s motion to use of cash collateral.

As reported in the Troubled Company Reporter on Jan. 24, 2014, the
Debtor said secured creditor General Electric Capital Corporation
is adequately protected and that the Court should grant final
approval to its motion to use cash collateral.

GE Capital has argued that, to obtain the right to use cash
collateral, the Debtor "must make compensatory payments to GE,
provide additional or replacement liens and/or provide GE with the
indubitable equivalent of its interest in the property."

The Debtor, in a supplemental brief, pointed out that it was at a
loss at how to respond to the cash collateral objection, since
this is exactly what the Debtor offered and demonstrated in its
cash collateral motion.  In fact, the Debtor intended to make --
and indeed, has been making -- principal and interest payments of
$70,000 per month to GE since December 2012; the Debtor offered
-- and the Court granted -- postpetition replacement liens; and
the Debtor demonstrated how GE was adequately protected by a
substantial equity cushion in the Property and a positive cash
flow balance at the end of the initial 90-day budget.

Now, more than 12 months after the cash collateral motion was
first filed and granted on an interim basis, the Debtor is
requesting that final use of cash collateral be granted since
nothing has changed in the interim.

According to Daniel A. Lev, at SulmeyerKupetz, attorney for the
Debtor, the only issue which could possibly be in dispute -- to
what extent GE is adequately protected by an equity cushion in the
Debtor's property -- has been put to rest by the Debtor's evidence
of value which demonstrates an equity cushion exceeding 35%.  He
adds that while GE submitted an appraisal with a vastly different
(and much lower) estimate of value, there remains no doubt that GE
is adequately protected not only by a staggering equity cushion
far in excess of the amount deemed sufficient by the Ninth
Circuit, but by the continued receipt of monthly adequate
protection payments exceeding $70,000 and the replacement liens
granted by the Court.

In response, GE pointed out that throughout the Debtor's tenure in
bankruptcy, GE has worked with the Debtor to provide the use of
cash collateral it needed to reorganize.  However, GE says it can
no longer consent to use of its cash collateral where the record
clearly establishes: (i) the Debtor's property is diminishing in
value because of a lack of care; and (ii) there is no equity in
the Property.

According to GE Capital, the Debtor's failure to properly maintain
the upkeep of the Property and inability to sell it despite
numerous promises, forced GE to file a motion for relief from the
automatic stay.  As reflected in GE's motion, the value of the
Property is diminishing with no prospect of a sale in sight and no
equity in the Property.

Accordingly, there is no amount of adequate protection payments or
replacement liens available to the Debtor to fully protect GE.

           About The Club At Shenandoah Springs Village

The Club At Shenandoah Springs Village, Inc., owns The Club At
Shenandoah Springs Village, a golf and leisure resort in Thousand
Palms, a desert region of central California.  It filed for
Chapter 11 protection (Bankr. C.D. Cal. Case No. 12-36723) on
Dec. 3, 2012.  The Debtor estimated both assets and liabilities of
between $10 million and $50 million.  Judge Mark D. Houle presides
over the case.  Daniel A. Lev, Esq., and Steven Worth, Esq., at
SulmeyerKupetz, in Los Angeles, Calif., represent the Debtor as
counsel.


COASTLINE INVESTMENTS: Taps Levene Neale as General Counsel
-----------------------------------------------------------
Coastline Investments LLC and Diamond Waterfalls LLC ask
authorization from the U.S. Bankruptcy Court for the Central
District of California to employ Levene, Neale, Bender, Yoo &
Brill LLP as general bankruptcy counsel, effective Feb. 18, 2014.

The Debtors require Levene Neale to:

   (a) advise the Debtors with regards to the requirements of the
       Bankruptcy Court, Bankruptcy Code, Bankruptcy Rules and
       the Office of the U.S. Trustee as they pertain to the
       Debtors;

   (b) advise the Debtors with regard to certain rights and
       remedies of their bankruptcy estates and the rights,
       claims and interests of creditors;

   (c) represent the Debtors in any proceeding or hearing in the
       Bankruptcy Court involving their estates unless the
       Debtors are represented in such proceeding or hearing by
       other special counsel;

   (d) conduct examinations of witnesses, claimants, or adverse
       parties and represent the Debtors in any adversary
       proceeding except to the extent that any such adversary
       proceeding is in an area outside of Levene Neale's
       expertise or which is beyond Levene Neale's staffing
       capabilities;

   (e) prepare and assist the Debtors in the preparation of
       reports, applications, pleadings and orders including, but
       not limited to, applications to employ professionals,
       interim statements and operating reports, initial filing
       requirements, schedules and statement of financial
       affairs, lease pleadings, cash collateral pleadings,
       financing pleadings, and pleadings with respect to the
       Debtors' use, sale or lease of property outside the
       ordinary course of business;

   (f) represent the Debtors with regards to obtaining use of
       debtor-in-possession financing and cash collateral
       including, but not limited to, negotiating and seeking
       Bankruptcy Court approval of any debtor in possession
       financing and cash collateral pleading or stipulation and
       preparing any pleadings relating to obtaining use of
       debtor-in-possession financing and cash collateral;

   (g) assist the Debtors in the negotiation, formulation,
       preparation and confirmation of a plan of reorganization
       and the preparation and approval of a disclosure statement
       in respect of the plan; and

   (h) perform any other services which may be appropriate in
       Levene Neale's representation of the Debtors during their
       bankruptcy cases.

Levene Neale will be paid at these hourly rates:

       David B. Golubchik           $595
       J.P. Fritz                   $465

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

The Debtors and Levene Neale agreed that Levene Neale would
receive $150,000 retainer in connection with representing both
Debtors.  In the one year prior to filing for bankruptcy, the
Debtors paid to Levene Neale the sums of $50,000 (the "Prepetition
Retainer") plus filing fees for each of the two cases.  The
Debtors advised Levene Neale that the source of the Prepetition
Retainer was Ace Management Services Corp., the management company
for the Debtors.  In addition, Ace agreed that it would pay to
Levene Neale an additional amount of $100,000 (the "Postpetition
Retainer" and with the Prepetition Retainer, collectively the
"Retainer") for the benefit of the Debtors.  Ace and the Debtors
advised Levene Neale that such funds will not be deemed to be a
loan to the Debtors and shall not be subject to repayment from the
estates.

David B. Golubchik, Esq., partner of Levene Neale, 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.

Levene Neale can be reached at:

       David B. Golubchik, Esq.
       LEVENE, NEALE, BENDER, YOO & BRILL LLP
       10250 Constellation Blvd., Suite 1700
       Los Angeles, CA 90067
       Tel: (310) 229-1234
       Fax: (310) 229-1244
       E-mail: dbg@lnbyb.com

Coastline Investments, doing business as Hilltop Suites Hotel, and
Diamond Waterfalls LLC, doing business as Diamond Bar Inn &
Suites, filed bare-bones Chapter 11 bankruptcy petitions (Bankr.
C.D. Cal. Case No. 14-13028 and 14-13030) in Los Angeles on
Feb. 18.  The Pomona, California-based Debtors each estimated at
least $10 million in assets and $1 million to $10 million in
liabilities.  Shih-Chung Liu, who has a 100 percent membership in
the companies, signed the bankruptcy petitions.  The Debtors are
represented by attorneys at Levene Neale Bender Rankin & Brill
LLP, in Los Angeles.  The Hon. Richard M Neiter oversees the case.


CONSTAR INTERNATIONAL: Now Known as Capsule Int'l Holdings
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Constar International Holdings LLC, et al., to amend the case
caption in view of the sale of their assets in the U.S. and U.K.

As reported in the Troubled Company Reporter on March 24, 2014,
the Debtor proposed to change its name to Capsule International
Holdings LLC.  The other Debtors will bear the names: Capsule
Group Holdings, Inc.; Capsule Intermediate Holdings, Inc.; Capsule
Group, Inc.; Capsule International LLC; Capsule DE I, Inc.;
Capsule DE II, Inc.; Capsule PA, Inc.; Capsule Foreign Holdings,
Inc.; and Capsule International U.K. Limited (Foreign).

The Bankruptcy Court on Feb. 10 approved the sale of the Debtors'
U.S. Assets to Plastipak Packaging, Inc.; and the U.K. Assets to
Sherburn Acquisition Limited.  The Sherburn deal closed on Feb. 14
and the Plastipak deal on Feb. 27.  The Debtors are required to
change their corporate trade names pursuant to the asset purchase
agreements.

Meanwhile, at the Debtors' behest, the Court extended until the
earlier of Feb. 27, or the date of closing of the Plastipak deal,
the maturity dates under the DIP facilities with Wells Fargo
Capital Finance, LLC, in its capacity as agent; and with Black
Diamond Commercial Finance, L.L.C., as agent.  The DIP credit
facility with Wells Fargo and the DIP Note Purchase Facility with
Black Diamond were originally slated to mature Feb. 17.

                    About Constar International

Privately held Constar International Holdings and nine affiliated
debtors filed for Chapter 11 protection (Bankr. D. Del. Lead Case
No. 13-13281) on Dec. 19, 2013.

This is Constar International's third bankruptcy.  Constar, which
manufactures plastic containers, first filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 08-13432) in December
2008, with a pre-negotiated Chapter 11 Plan and emerged from
bankruptcy in May 2009.  Constar and its affiliates returned to
Chapter 11 protection (Bankr. D. Del. Case No. 11-10109) on Jan.
11, 2011, with a pre-negotiated Chapter 11 plan and emerged from
bankruptcy in June 2011.

The 2013 petition listed assets worth less than $100 million
against $123 million on three layers of secured debt.

Judge Christopher S. Sontchi oversees the 2013 case.

Constar is represented by Michael J. Sage, Esq., Brian E. Greer,
Esq., Stephen M. Wolpert, Esq., and Janet Bollinger Doherty, Esq.,
at Dechert LLP; and Robert S. Brady, Esq., and Sean T. Greecher,
Esq., at Young Conaway Stargatt & Taylor, LLP.  Prime Clerk LLC
serves as Constar's claims and noticing agent, and administrative
advisor.  Lincoln Partners Advisors LLC serves as the Debtors'
financial advisor.

Attorneys at Brown Rudnick LLP represent the official committee of
unsecured creditors.  The Committee retained Alvarez & Marsal
North America LLC as its financial advisor.

Counsel to Wells Fargo Capital Finance, LLC, the revolving loan
agent, is Andrew M. Kramer, Esq., at Otterbourg P.C.

In February 2014, the Bankruptcy Court authorized Constar to sell
certain assets to Plastipak Packaging, Inc., a global manufacturer
of rigid plastic packaging.  The Court determined that Plastipak's
$102,450,000 offer for the Debtors' U.S. assets bested the offers
from Amcor Rigid Plastics USA, Inc., and Envases Universales De
Mexico S.A.P.I. De C.V. during a Feb. 6 auction.

Separately, the Court authorized Constar to sell a facility in
Havre de Grace, Maryland, to Smucker Natural Foods, Inc., for
$3 million.  There was no other bidder for the Maryland facility.

The sole director of debtor Constar International U.K. Limited has
appointed Daniel Francis Butters and Nicolas Guy Edwards of
Deloitte LLP as administrators.  The U.K. Administration
Proceeding follows the closing of the sale of the U.K. assets to
Sherburn Acquisition Limited.  The Delaware Bankruptcy Judge
authorized the U.S. Debtors to sell the U.K. Assets to Sherburn
for GBP3,512,727, (or US$7,046,000), less the deposit in the sum
of US$1,250,000.

Secured lender Black Diamond Commercial Finance, LLC, as DIP note
agent, and Wells Fargo Capital Finance, LLC, as DIP revolving
agent and agent under the revolving loan facility, consented to
the administration of Constar U.K. and the appointment of the
Joint Administrators.


COTTONWOOD ESTATES: Hires Parr Brown as Real Estate Counsel
-----------------------------------------------------------
Cottonwood Estates Development, LLC asks the U.S. Bankruptcy Court
for permission to employ Parr Brown Gee & Loveless as counsel to
handle certain real estate transactional work.

The Debtor will continue to retain PBGL to represent the Debtor in
matters related to development of the Tavaci project, including
modifying and drafting covenants codes and restrictions, and other
similar matters.

PBGL has been representing the Debtor in this matter prior to this
Chapter 11 filing. PBGL asserts it is owed a balance for this pre-
petition work in the amount of $12,228.25.

Robert McConnell attests that it is a "disinterested person" as
the term is defined in Section 101(14) of the Bankruptcy Code.

Counsel for the Debtor can be reached at:

         Blake D. Miller, Esq.
         James W. Anderson, Esq.
         MILLER GUYMON, P.C.
         165 Regent Street
         Salt Lake City, UT 84111
         Tel: (801) 363-5600
         Fax: (801) 363-5601
         E-mail: miller@millerguymon.com
                 anderson@millerguymon.com

Cottonwood Estates Development, LLC filed a Chapter 11 petition
(Bankr. D. Utah Case No. 13-34298) on Dec. 30, 2013, in Salt Lake
City, Utah.  James W. Anderson, Esq., at Miller Guymon, PC, in
Salt Lake City, serves as counsel to the Debtor.  The Debtor
estimated up to $50 million in both assets and debts.


COTTONWOOD ESTATES: Hires J. Philip Cook as Appraiser
-----------------------------------------------------
Cottonwood Estates Development, LLC asks the U.S. Bankruptcy Court
for permission to employ J. Philip Cook, LLC as appraiser for the
Debtor.

The firm will provide these services:

     a. advising the Debtor in relation to the valuation of
        its real property; and

     b. providing expert testimony, as necessary, in connection
        with the Debtor's Chapter 11 Plan and any related
        proceedings.

The Debtor requires appraisal services to aid in its plan
solicitation process.

The Appraiser will charge its ordinary hourly rate of $475.00.

The application also seeks authority to pay the Appraiser
$6,500.00 upon delivery of the appraisal for the Debtor's real
property, without further court approval.

J. Philip Cook attests that it is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

Cottonwood Estates Development, LLC filed a Chapter 11 petition
(Bankr. D. Utah Case No. 13-34298) on Dec. 30, 2013, in Salt Lake
City, Utah.  James W. Anderson, Esq., at Miller Guymon, PC, in
Salt Lake City, serves as counsel to the Debtor.  The Debtor
estimated up to $50 million in both assets and debts.


CROWN MEDIA: Inks Severance Agreement with Annie Howell
-------------------------------------------------------
Crown Media United States, LLC, a subsidiary of Crown Media
Holdings, Inc., and Annie Howell entered into a severance
agreement relating to Ms. Howell's separation from the Company as
executive vice president of corporate communications and media
relations.  Under the Severance Agreement, Ms. Howell will receive
within 15 days after the Separation Date:

  (i) a lump sum of $323,136;

(ii) her current base salary through the Separation Date;

(iii) standard benefits through March 31, 2014; and

(iv) accrued and unused vacation and personal time (less
      appropriate payroll deductions).

In addition, Ms. Howell will receive prorated payments of the
Employment Awards under the Long Term Incentive Plan for the 2012
and 2013 grant years, with any applicable Performance Award
components to be paid in 2015 and 2016 in accordance with the
terms of the Long Term Incentive Plan.  Lastly, Ms. Howell will
receive COBRA premium payments through March 31, 2015, or until
she becomes eligible to receive health benefits from another
employer, whichever time period is shorter, subject to certain
restrictions.

All payments and benefits to which Ms. Howell is entitled under
the Severance Agreement were conditioned on her execution and
delivery of a general release of claims against the Company.  The
Severance Agreement also includes a number of covenants to which
Ms. Howell has agreed, including, but not limited to, maintaining
the confidentiality or proprietary Company information, not
interfering in any manner with any business or contractual
relations between the Company and its employees, vendors,
contractors, or other third parties, and cooperating with the
Company in the event of litigation against the Company.

                          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.

Crown Media reported 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.  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.


                         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 for the year ended Dec. 31,
2013.

                           *     *     *

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.


CUE & LOPEZ: Court Prohibits Use of Cash Collateral
---------------------------------------------------
The Bankruptcy Court approves Oriental Bank's request to prohibit
Cue & Lopez Construction Inc. and Cue & Lopez Contractors Inc.
from using cash collateral.

Oriental Bank was concerned about certain accounts receivables for
retention of construction certifications of Casa Maggiore, Inc.,
which Cue & Lopez may have used without consent.

In its objection to the request, the contractors maintained that
they received $100,000 from the retainage portion of the contract
with Casa Maggiore.

Charles A. Cuprill-Hernandez, Esq., in San Juan, Puerto Rico,
explained that the contractors did not return that amount to Casa
but made an independent $100,000 contribution of capital to them,
as its required 40% shareholder's contribution for the conclusion
of the project. He also noted that Cue & Lopez is not using and
will not use the retainage held by Casa Maggiore.

Oriental Bank responded to the objection asserting that
controversy surrounds the amount of retainage at hand, and the use
being given to it by Cue & Lopez for the benefit of an insider.

William Santiago-Sastre, Esq., at De Diego Law Offices, PSC, in
Carolina, Puerto Rico, asserted that the bank has been harmed and
it will continue to be harmed if the contractors are not
prohibited from using its cash collateral.

Mr. Santiago-Sastre pointed out that Cue & Lopez used the
collateral for the benefit of its president and principal managing
officer, Frank Cue Garcia, who is the 40% stockholder of Casa
Maggiore and not Cue & Lopez. This contribution is certainly an
illegal payment to Casa Maggiore and for the benefit of an
insider, added Mr. Santiago-Sastre.

Section 362(c)(2) of Bankruptcy Code provides that the Debtor may
not use, sell or lease cash collateral unless:

   (a) each entity that has an interest in such cash
       collateral consents; or

   (b) the court, after notice and hearing, authorizes such
       use, sales, or lease in accordance with the
       provisions of this section.

                         About Cue & Lopez

San Juan, Puerto Rico-based Cue & Lopez Construction, Inc., sought
protection under Chapter 11 of the Bankruptcy Code on Oct. 4, 2013
(Case No. 13-08297, Bankr. D.P.R.).  The case is assigned to Judge
Brian K. Tester.

Cue & Lopez Contractors, Inc., filed a separate Chapter 11
petition (Case No. 13-08299) on the same date.

The Debtors are represented by Charles Alfred Cuprill, Esq., at
Charles A Curpill, PSC Law Office, in San Juan, Puerto Rico.  CPA
Luis R. Carrasquillo & Co., P.S.C., serves as accountant.

Cue & Lopez Construction scheduled $13,334,151 in total assets and
$17,520,089 in total liabilities.  The Chapter 11 petitions were
signed by Frank F. Cue Garcia, president.


CUE & LOPEZ: Court Extends Exclusive Periods
--------------------------------------------
The Bankruptcy Court extends the exclusive periods of Cue & Lopez
Construction Inc. and Cue & Lopez Contractors Inc. to file a
reorganization plan and to solicit plan acceptances.

The contractors asked for the extension saying that it needed
until June 2, 2014, to file a plan.

Nicolas A. Wong-Young, Esq., at Charles A. Cuprill, P.S.C., in San
Juan, Puerto Rico explained that Cue & Lopez is currently in the
process of determining the allowance of proofs of claim and is in
conversation with their two largest secured creditors. He adds
that Cue & Lopez's financial advisor and its management are still
working on the reconciliation of claims, restructuring
infrastructure, negotiating to acquire new projects and other
financial matters pertaining to the plan.

                         About Cue & Lopez

San Juan, Puerto Rico-based Cue & Lopez Construction, Inc., sought
protection under Chapter 11 of the Bankruptcy Code on Oct. 4, 2013
(Case No. 13-08297, Bankr. D.P.R.).  The case is assigned to Judge
Brian K. Tester.

Cue & Lopez Contractors, Inc., filed a separate Chapter 11
petition (Case No. 13-08299) on the same date.

The Debtors are represented by Charles Alfred Cuprill, Esq., at
Charles A Curpill, PSC Law Office, in San Juan, Puerto Rico.  CPA
Luis R. Carrasquillo & Co., P.S.C., serves as accountant.

Cue & Lopez Construction scheduled $13,334,151 in total assets and
$17,520,089 in total liabilities.  The Chapter 11 petitions were
signed by Frank F. Cue Garcia, president.


CUE & LOPEZ: Position Papers on Examiner Appointment Due April 10
-----------------------------------------------------------------
The Bankruptcy Court has announced that parties-in-interest are
given until April 10 to state their positions with respect to the
appointment of an examiner in the Chapter 11 cases of Cue & Lopez
Construction Inc. and Cue & Lopez Contractors Inc.  Based on what
is filed, the Court will then determine if the matter will be
scheduled for a hearing.

As reported by the Troubled Company Reporter on March 26, Oriental
Bank sought appointment of an examiner to investigate Cue & Lopez
Construction Inc. and Cue & Lopez Contractors Inc. regarding:

   (a) transactions with insiders;
   (b) postpetition payments to suppliers that hold prepetition
       claims; and
   (c) amounts held by third parties for work completed.

William Santiago-Sastre, Esq., at De Diego Law Offices, PSC, in
Puerto Rico, points out that appointment of an examiner is
warranted in the interest of creditors.

                         About Cue & Lopez

San Juan, Puerto Rico-based Cue & Lopez Construction, Inc., sought
protection under Chapter 11 of the Bankruptcy Code on Oct. 4, 2013
(Case No. 13-08297, Bankr. D.P.R.).  The case is assigned to Judge
Brian K. Tester.

Cue & Lopez Contractors, Inc., filed a separate Chapter 11
petition (Case No. 13-08299) on the same date.

The Debtors are represented by Charles Alfred Cuprill, Esq., at
Charles A Curpill, PSC Law Office, in San Juan, Puerto Rico.  CPA
Luis R. Carrasquillo & Co., P.S.C., serves as accountant.

Cue & Lopez Construction scheduled $13,334,151 in total assets and
$17,520,089 in total liabilities.  The Chapter 11 petitions were
signed by Frank F. Cue Garcia, president.


DIOCESE OF HELENA: Pachulski Approved as Committee Counsel
----------------------------------------------------------
The Bankruptcy Court authorized the Official Committee of
Unsecured Creditors in the Chapter 11 cases of Roman Catholic
Bishop of Helena, Montana, a Montana Religious Corporation Sole
(Diocese of Helena), to retain Paculski Stang Ziehl & Jones LLP as
its counsel.

As reported in the Troubled Company Reporter on March 28, 2014,
the firm will charge $650 per hour for professionals working on
the case and regular hourly rates of $175-$255 for paralegals.

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

                    About the Diocese of Helena

The Roman Catholic Bishop of Helena, Montana, a Montana Religious
Corporation Sole (a/k/a Diocese of Helena) sought protection
under Chapter 11 of the Bankruptcy Code on Jan. 31, 2014, to
resolve more than 350 sexual-abuse claims.  The Chapter 11 case
(Bankr. D. Mont. Case No. 14-60074) was filed in Butte, Montana.

Attorneys at Elsaesser Jarzabek Anderson Elliott & MacDonald,
Chtd., serve as counsel to the Debtor.

Several Roman Catholic dioceses in the U.S. have filed for
bankruptcy to settle claims from current and former parishioners
who say they were sexually molested by priests.

The Roman Catholic Bishop of Helena filed its schedules of assets
and liabilities, which show assets with a value of more than
$16.037 million against debt totaling $33.6 million.  The filings
also showed that the diocese has $4.7 million in secured debt.
Creditors of the diocese assert $28.89 million in unsecured
non-priority claims.

Gail Brehm Geiger, the U.S. Trustee for Region 18, appointed
seven creditors to serve on the Official Committee of Unsecured
Creditors.


DIOCESE OF HELENA: Taps Patterson Buchanan on Sexual Abuse Claim
----------------------------------------------------------------
Roman Catholic Bishop of Helena, Montana, a Montana Religious
Corporation Sole (Diocese of Helena), asks the U.S. Bankruptcy
Court for the District of Montana for permission to employ Michael
Patterson, Scott Jamieson, Keith Talbot and the firm Patterson
Buchanan Fobes & Leitch Inc., P.S. as special counsel.

According to the Debtor, the firm has represented the Company for
three years on various sexual abuse claim terms.

The Debtor said the firm will provide legal advice and assistance
as needed as to matters requiring legal advice and counsel
relating to the sexual abuse claims against the Debtor.  The
Debtor said the services provided by the firm will not overlap the
services with the counsel Elsaesser Larzabek Anderson Elliot &
Macdonald, Chtd.

The hourly rates of the firm's personnel are:

         Mr. Patterson                         $200
         Mr. Jamieson                          $200
         Mr. Talbot                            $200

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

                    About the Diocese of Helena

The Roman Catholic Bishop of Helena, Montana, a Montana Religious
Corporation Sole (a/k/a Diocese of Helena) sought protection
under Chapter 11 of the Bankruptcy Code on Jan. 31, 2014, to
resolve more than 350 sexual-abuse claims.  The Chapter 11 case
(Bankr. D. Mont. Case No. 14-60074) was filed in Butte, Montana.

Attorneys at Elsaesser Jarzabek Anderson Elliott & MacDonald,
Chtd., serve as counsel to the Debtor.

Several Roman Catholic dioceses in the U.S. have filed for
bankruptcy to settle claims from current and former parishioners
who say they were sexually molested by priests.

The Roman Catholic Bishop of Helena filed its schedules of assets
and liabilities, which show assets with a value of more than
$16.037 million against debt totaling $33.6 million.  The filings
also showed that the diocese has $4.7 million in secured debt.
Creditors of the diocese assert $28.89 million in unsecured
non-priority claims.

Gail Brehm Geiger, the U.S. Trustee for Region 18, appointed
seven creditors to serve on the Official Committee of Unsecured
Creditors.


DOTS LLC: Creditors' Panel Hires Otterbourg as Counsel
------------------------------------------------------
The Official Committee of Unsecured Creditors of Dots LLC and its
debtor-affiliates seeks permission from the U.S. Bankruptcy Court
for the District of New Jersey to retain Otterbourg P.C. as
counsel to the Committee, effective Feb. 6, 2014.

The Committee requires Otterbourg to:

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

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

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

   (d) assist the Committee in the review, analysis and
       negotiation of any plans of reorganization, and to assist
       the Committee in the review, analysis and negotiation of
       the corresponding disclosure statements;

   (e) assist the Committee in the review, analysis and
       negotiation of any bidding procedures or asset sale
       proposals;

   (f) assist the Committee in the review and analysis of any
       financing agreements;

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

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

   (i) appear, as appropriate, before this Court, the Appellate
       Courts, and the United States Trustee, and to protect the
       interests of the Committee before those courts and before
       the United States Trustee; and

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

Otterbourg will be paid at these hourly rates:

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

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

Scott L. Hazan, Esq., member of Otterbourg, 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 Executive Office for United States Trustees recently adopted
new Guidelines for Reviewing Applications for Compensation and
Reimbursement of Expenses Filed under 11 U.S.C. Sec. 330 by
Attorneys in Larger Chapter 11 Cases -- so-called Appendix B
Guidelines.  Otterbourg said it intends to make a reasonable
effort to comply with the United States Trustee's requests for
information and additional disclosures as set forth in the New UST
Guidelines both in connection with this application and the
interim and final fee applications to be filed by Otterbourg in
the Chapter 11 Cases.  Otterbourg also intends to work
cooperatively with the United States Trustee Program to address
the concerns that prompted the adoption of the New UST Guidelines.

Otterbourg can be reached at:

       Scott L. Hazan, Esq.
       OTTERBOURG P.C.
       230 Park Ave
       New York, NY 10169
       Tel: (212) 661-9100 ext. 847
       Fax: (212) 682-6104
       E-mail: shazan@oshr.com

                        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.


DOTS LLC: Panel Hires FTI Consulting as Financial Advisor
---------------------------------------------------------
The Official Committee of Unsecured Creditors of Dots, LLC and its
debtor-affiliates seeks permission from the U.S. Bankruptcy Court
for the District of New Jersey to retain FTI Consulting, Inc. as
financial advisor to the Committee, nunc pro tunc to Feb. 6, 2014.

FTI Consulting will provide financial advisory services to the
Committee and its legal advisor as they deem appropriate and
feasible in order to advise the Committee in the course of these
chapter 11 cases, including but not limited to the following:

   (a) assistance in the review of financial related disclosures
       required by the Court, including the Schedules of Assets
       and Liabilities, the Statement of Financial Affairs and
       Monthly Operating Reports;

   (b) assistance in the preparation of analyses required to
       assess any proposed Debtor-In-Possession ("DIP") financing
       or use of cash collateral;

   (c) assistance with the assessment and monitoring of the
       Debtors' short term cash flow, liquidity, and operating
       results;

   (d) assistance with the review of the Debtors' proposed key
       employee retention and other employee benefit programs;

   (e) assistance with the review of the Debtors' analysis
       of core business assets and the potential disposition or
       liquidation of non-core assets;

   (f) assistance with the review of the Debtors' cost/benefit
       analysis with respect to the affirmation or rejection of
       various executory contracts and leases;

   (g) assistance with the review of the Debtors' identification
       of potential cost savings, including overhead and
       operating expense reductions and efficiency improvements;

   (h) assistance in the review and monitoring of the asset sale
       process, including, but not limited to an assessment of
       the adequacy of the marketing process, completeness of any
       buyer lists, review and quantifications of any bids;

   (i) assistance with review of any tax issues associated with,
       but not limited to, claims/stock trading, preservation of
       net operating losses, refunds due to the Debtors, plans of
       reorganization, and asset sales;

   (j) assistance in the review of the claims reconciliation and
       estimation process;

   (k) assistance in the review of other financial information
       prepared by the Debtors, including, but not limited to,
       cash flow projections and budgets, business plans, cash
       receipts and disbursement analysis, asset and liability
       analysis, and the economic analysis of proposed
       transactions for which Court approval is sought;

   (l) attendance at meetings and assistance in discussions with
       the Debtors, potential investors, banks, other secured
       lenders, the Committee and any other official committees
       organized in these chapter 11 proceedings, the U.S.
       Trustee, other parties in interest and professionals hired
       by the same, as requested;

   (m) assistance in the review and preparation of information
       and analysis necessary for the confirmation of a plan and
       related disclosure statement in these chapter 11
       proceedings;

   (n) assistance in the evaluation and analysis of avoidance
       actions, including fraudulent conveyances and preferential
       transfers;

   (o) assistance in the prosecution of Committee responses or
       objections to the Debtors' motions, including attendance
       at depositions and provision of expert reports and
       testimony on case issues as required by the Committee; and

   (p) render such other general business consulting or such
       other assistance as the Committee or its counsel may deem
       necessary that are consistent with the role of a financial
       advisor and not duplicative of services provided by other
       professionals in this proceeding.

FTI Consulting will be paid at these hourly rates:

       Senior Managing Directors             $800-$925
       Directors/Managing Directors          $580-$765
       Consultants/Senior Consultants        $300-$550
       Administrative/Paraprofessionals/     $125-$250
       Associates

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

Samuel Star, senior managing director of FTI Consulting, 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.

FTI Consulting can be reached at:

       Samuel E. Star
       FTI CONSULTING, INC.
       Three Times Square, 11th Floor
       New York, NY 10036
       Tel: 212 247-1010
       Fax: 212 841-9350
       E-mail: samuel.star@fticonsulting.com

                        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.


DOTS LLC: Hires Hilco Streambank as Property Consultant
-------------------------------------------------------
Dots, LLC and its debtor-affiliates ask for authorization from the
U.S. Bankruptcy Court for the District of New Jersey to employ
Hilco IP Services LLC, dba Hilco Streambank, as intellectual
property disposition consultant.

The Debtors require Hilco Streambank to provide these intellectual
property disposition services:

   (a) Collection and Securing of Intellectual Property.  Hilco
       Streambank will assist the Debtors in collecting and
       securing their intellectual property assets;

   (b) Marketing and Selling Intellectual Property.  Hilco
       Streambank will actively market the Debtors' intellectual
       property assets, and subject to court approval, conduct a
       sales process aimed at maximizing the value of the assets
       for the Debtors and its creditor constituents; and

   (c) Intellectual Property Transfers.  Hilco Streambank will
       assist the Debtors as may be necessary with the transfer
       of intellectual property assets to the buyer or buyers
       offering the highest consideration for such assets.

Hilco Streambank will be compensated on these terms:

       Net Consideration Amount             Commission Rate
       ------------------------             ---------------
        Up to $500,000                           10%
        $500,001 to $1,000,000                   12.5%
        More than $1,000,000                     15%

Hilco Streambank will also be entitled to reimbursement by the
Debtors for any reasonable out of pocket expenses incurred in
connection with the marketing and disposition of the intellectual
property assets, up to a maximum aggregate amount of $5,000.

Jack Hazan, executive vice president of Hilco Streambank, 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.

Hilco Streambank can be reached at:

       Jack Hazan
       HILCO IP SERVICES, LLC
         dba HILCO STREAMBANK
       74 Crescent Road, 2nd Floor
       Needham, MA 02494
       Tel: (781) 444-4940
       E-mail: jhazan@hilcostreambank.com

                        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.


DUNLAP OIL: 2nd Amended Plan Confirmed; Pineda Request Denied
-------------------------------------------------------------
In the Chapter 11 cases of Dunlap Oil Company, Inc., and Quail
Hollow Inn, LLC, Bankruptcy Judge Brenda Moody Whinery denied
Pineda Grantor Trust II's "Motion to Alter or Amend Order
Confirming Debtors' Second Amended Plan of Reorganization and
Alternative Motion for Relief from Judgment."

"The Motion is DENIED in its entirety," the Bankruptcy Judge ruled
on March 27.

                        Confirmation Order

The Debtors originally filed for reorganization in October 2012.
After extensive proceedings in this case, on Nov. 17, 2013, the
Court announced its ruling rejecting the Debtors' First Amended
Plan of Reorganization and granting Canyon Community Bank and
Pineda's Motions to lift the stay to allow them to proceed with
foreclosure.  The Debtors filed a Motion for Reconsideration, and
that Motion for Reconsideration was heard and rejected on Dec. 17,
2013.  The Court signed the Order lifting the Stay with respect to
Pineda on Dec. 27 and to CCB on Dec. 29.

Pineda claims an interest in the real property owned by Quail
Hollow located at 699 N. Ocotillo Road, Benson, AZ and known as
the Best Western Quail Hollow Inn and certain personal property
including furniture, fixtures and equipment used in connection
with the Hotel.

CCB claims an interest in three gas stations and convenience
stores located at 1051 W. Beta Road, Sahuarita, Arizona -- the
Grand Texaco; at 171 W. Continental Road and 173 W. Continental
Road, Green Valley, Arizona -- Green Valley Super Center; and at
971 E. White Mountain Boulevard, Pinetop, Arizona -- Pinetop.  CCB
also claims an interest in the rolling stock consisting of the
vehicles and trailers owned by Dunlap Oil.  The CCB Collateral
secures a combined Original indebtedness in excess of $8,000,000.

The Debtors filed their Second Amended Joint Plan of
Reorganization on Dec. 27, 2013.  They also sought a stay of the
Court's Stay Relief Orders through the conclusion of the
evidentiary proceedings.  Pineda and CCB opposed the Stay
requests.

The Court conducted an evidentiary hearing on the Plan and various
matters on Feb. 7, 2014, and also held a confirmation hearing on
March 6.  The Court confirmed the Plan in an order dated March 12.

As a condition of confirmation, the Court said all amounts owed to
QHI from KT's Market must be repaid on or prior to the Effective
Date, and the so-called Cash New Value Contribution in the amount
of $250,000 must be received by the Debtors on or prior to the
Effective Date.

                     Pineda's Motion to Alter

Pineda on March 21 filed its request to alter or amend the
Confirmation Order, arguing that:

     1. The Confirmation Order should expressly provide that
        the hotel owned by Quail Hollow Inn will be transferred
        to a special purpose entity designated by Pineda, rather
        than being transferred directly to Pineda.  The Hotel is
        encumbered by junior liens, including an approximately
        $400,000 IRS lien, that would be eliminated if Pineda
        were to foreclose its Deed of Trust.  A transfer of the
        hotel directly to Pineda would expose it to arguments
        that its Deed of Trust has merged with the title, and
        potentially elevate the priority of junior liens.  Thus,
        a transfer to Pineda would not constitute the
        "indubitable equivalent" of its secured claim, but a
        substantial and prejudicial deprivation of its secured
        claim.  Pineda said at that time it was in the process
        of assigning its claims against the Debtors to an
        affiliated entity.

     2. The Confirmation Order should require QHI to account
        for and immediately turnover to Pineda all accumulated
        cash collateral, plus all personal property (including
        furniture, fixtures, and equipment) to which Pineda's
        Deed of trust attaches. QHI has no need for cash
        collateral to operate the Hotel since it proposes to
        abandon it, and it would not be entitled to retain cash
        collateral anyway because Pineda is undersecured.

     3. The valuation of the Hotel as $2.5 million was made in
        connection with a plan that proposed a sale at that
        price. The plan amendments made after the Court issued
        its ruling on valuation propose to "give back" the Hotel
        to Pineda and rejection of the Best Western agreement.
        Because the Debtors' plan -- as amended after the
        confirmation hearing and valuation decision -- proposes
        to surrender the Hotel, the Hotel should be revalued at
        its liquidation value.

Pineda also asked the Court to stay the Confirmation Order for a
period of 14 days, to give it time to pursue and resolve its
Motion to Alter.  Pineda said it intends to seek a stay pending
appeal from the Confirmation Order.

Pineda said one of the components of the Second Amended Plan is a
transfer of property held by trusts for which Carol and Kenneth
Dunlap are settlors.  Carol Dunlap (and the martial community
consisting of herself and Kenneth Dunlap) are now debtors in their
own Chapter 11 bankruptcy case.  Pineda has filed a motion in
Carol Dunlap's bankruptcy case to preclude any transfer of such
property that is determined to constitute property of her
bankruptcy estate.  A hearing on that motion was set for April 2.

The Debtors responded to Pineda's Motion to Alter in court papers
filed March 27.  The Debtors said they have been trying for well
over a month to obtain information from Pineda regarding the name
or entity to whom they should issue deeds on the Effective Date.
The Debtors added that they are prepared to issue quit claim deeds
to both Pineda and Canyon Community Bank on the Effective Date
(which was set to occur March 28), and had asked repeatedly for
the name of the entity to which the deeds should be issued. In the
event Pineda and/or CCB do not provide an alternative preferred
name for the deeds, the Debtors said they intend to utilize the
names used on the respective proofs of claim filed.

The Debtors also argued that the sale of QHI Hotel under the Plan
includes the real property and personal property that comprise the
hotel.  Thus, there is no need to alter the Confirmation Order to
specify that the personal property associated with the QHI Hotel
is part of what is being transferred to Pineda under the Plan.

Moreover, the Debtors said Pineda's request to reconsider the
amount of its secured claim on the QHI Hotel (which the Court
valued at $2.5 million) provides zero basis for an alteration or
stay of the Confirmation Order.  Pineda can seek reconsideration
of its secured claim on the QHI Hotel post-confirmation through
appropriate channels (including Bankruptcy Rule 3008 and
Bankruptcy Code Sec. 502(j)). The Plan simply moved up a return of
the QHI Hotel to Pineda from 6 months after the Effective Date to
on the Effective Date, so there is no reason to reconsider the
Pineda Claim on the QHI Hotel.  In the end, Pineda is getting what
it claims it wanted for the value that Pineda claims the QHI Hotel
is worth.

The Debtors also said any attempt by Pineda to stay the Effective
Date pending the outcome of motions filed in the personal cases of
Ted Dunlap, the Debtors' principal, and Carol Dunlap is now moot.

                           Plan Summary

Payments under the Second Amended Plan will be funded through cash
flow generated by the continued operations of the Debtors'
business, and/or through alternate financing obtained from third
parties.  The Debtors anticipate that cash flow generated from the
continued operation of its restructured business operations will
increase and stabilize in the coming months, thereby increasing
the cash flow for the remaining payments under the Plan.  In
addition, because initial cash flows may be insufficient to fund
Effective Date and Plan payments, the Equity Interest holders of
Dunlap Oil will contribute on the Effective Date $250,000 to fund
the Plan.  The Equity Interest holders of Dunlap Oil have also
agreed to further support the Plan through the so-called Real
Property New Value Contribution, wherein they will contribute
their fee simple interests in the Benson Little General and Benson
Chevron in the event that the Plan is confirmed.

The Debtors have received significant support from merchandise
suppliers, including favorable credit terms which will generate
$30-45,000 in additional cash on an annual basis.

Jacksons Food Stores, Inc. dba Jackson Oil, has committed to a
$200,000 line of credit available for fuel purchases upon
confirmation of the Plan.

In addition, the $100,000 cash value of a Dunlap Oil key man life
insurance policy will provide additional liquidity for the Plan.
The life insurance policy covers the prior President of Dunlap
Oil, Kenneth Dunlap.

Theodore Dunlap, the Debtors' principal, and Jim Martin have
agreed to a combined $50,000 in annual salary deferrals to further
assist with liquidity if needed.

                      Sale of Hotel Property

Pursuant to the Second Amended Plan, the Debtors intend to
complete a sale of the QHI hotel property.  Proceeds from the sale
will be used to pay outstanding secured taxes and the so-called
Stipulated Pineda Value for the Hotel, and any excess proceeds
will be transferred to Dunlap Oil and made available for use by
Dunlap Oil in its ongoing operations.

The Stipulated Pineda Values refer to the values for the Pineda
Collateral and Returned Properties stipulated to by the Debtors
and Pineda. Pineda Collateral refers to those Assets of the
Debtors on which Pineda holds a valid, enforceable, and
unavoidable Lien, other than the Benson Little General and Sierra
Vista Chevron that were turned over to Pineda during the course of
the Case for an aggregate credit of $274,149 against the Allowed
Secured Claim of Pineda.

The Plan provides that, as of the Effective Date (and if QHI is
not sold by the Effective Date), after deducting the secured taxes
from the Stipulated Pineda Values, Pineda is left with an Allowed
Secured Claim in the amount of $4,468,410.  The Pineda Allowed
Class 2(a) Secured Claim will be paid on a 25-year amortization
schedule with interest at the rate of 5% per annum, resulting in
an initial Monthly Payment of $26,122.

Upon the sale, Pineda will receive, based on the Stipulated Pineda
Value, the net amount of $1,673,387 after payment of secured
taxes, and the balance of the Allowed Secured Claim of Pineda will
be reduced accordingly, resulting in a remaining Monthly Payment
amount of approximately $16,500 (depending on exact remaining
balance at time of the QHI sale).

The remainder of the Pineda claim will be treated as a Class 3(a)
Unsecured Deficiency Claim.  Holders of Allowed Class 3(a) Claims
will be entitled to semi-annual pro rata distributions of the cash
flows generated and amounts received by the Debtors, after payment
of operating expenses and installment payments to secured
creditors, for a period of five years after the Effective Date.

Meanwhile, Holders of Allowed Class 3(b) General Unsecured Claims
-- other than the Deficiency Claims and the Related Parties
Unsecured Claims -- will be entitled to semi-annual pro rata share
of the Unsecured Distribution Amount for a period of five years
after the Effective Date.  All Allowed Claims in Class 3(b) will
be deemed paid and discharged in full five years after the
Effective Date.

Class 3(c) Related Parties Unsecured Claims will be deemed waived
and released as against the Debtors on the Effective Date as a
component of the contributions by the current Equity Security
Interest holders under the Plan, and the Related Parties will not
receive any payment on account of Class 3(c) Related Parties
Unsecured Claims.  The Class 3(c) Related Parties Unsecured Claims
total $1,378,500.

The shareholders of Dunlap Oil -- Class 4 (Equity Security
Interests in DOC) -- will retain their respective equity security
interests in the Company.

The members of QHI -- Class 5 (Membership Interests in QHI) --
will retain their respective equity security interests in QHI.

A copy of the Second Amended Plan is available at:

     http://bankrupt.com/misc/DUNLAPOIL2plan.pdf

                         Plan Objections

Pineda, among others, argued that (i) QHI's unauthorized transfers
of cash collateral has continued.  QHI is not authorized to make
any payments to or for the benefit of Dunlap Oil or other
affiliated entities; (ii) the provisions for the sale of the Quail
Hollow Inn impermissibly strip Pineda of its right to credit bid
in violation of 11 U.S.C. Sec. 1129(b)(2)(A)(ii) and the Supreme
Court's holding in RadLAX Gateway Hotel, LLC v. Amalgamated Bank,
132 S. Ct. 2065, 2070 (2012); any proceeds from the sale of the
hotel must be paid to Pineda to be applied against its secured
claim, and the Debtors impermissibly propose to pocket hundreds of
thousands of dollars they project to receive upon the sale of the
hotel.

Pineda is represented by:

     David Wm. Engelman, Esq.
     Bradley D. Pack, Esq.
     ENGELMAN BERGER, P.C.
     3636 North Central Avenue, Suite 700
     Phoenix, AZ 85012
     Tel: (602) 271-9090
     Fax: (602) 222-4999
     E-mail: dwe@eblawyers.com
             bdp@eblawyers.com

Canyon Community Bank, N.A., said the new capital proposed to be
contributed under the Plan is less than the cash and inventory
losses suffered by the Debtors during the course of this
bankruptcy.  The Debtors' inability to operate its businesses
successfully in the past 16 months since filing this bankruptcy
has resulted in losses that the creditors will never recover.  The
proposed New Plan is nothing more than numbers on paper that do
not reflect the Debtors' prior operating history, or the results
Debtors have achieved (or in this case, failed to achieve) since
abandoning its unwanted operations to its creditors 7 months ago.
The Debtors must show credible evidence that they will be able to
achieve the New Plan and projections they put forth.

CCB is represented by:

     RUSING LOPEZ & LIZARDI, P.L.L.C.
     Pat P. Lopez III, Esq.
     Rebecca K. O'Brien, Esq.
     6363 North Swan Road, Suite 151
     Tucson, AZ 85718
     Telephone: (520) 792-4800
     Facsimile: (520)529-4262
     E-mail: plopez@rllaz.com
             robrien@rllaz.com

Best Western International, Inc., said that in the event any
proceeds from the sale of QHI property is transferred to Dunlap
Oil for use in Dunlap Oil's operations prior to satisfaction of
all obligations of QHI, that distribution would be contrary to
state law and contrary to the provisions of the Bankruptcy Code
regarding the distribution of QHI assets.  The Debtors' proposed
Plan makes no provision for satisfaction of all QHI obligations to
Best Western prior to such distribution of QHI sale proceeds to
Dunlap Oil.

QHI was a party to a Best Western Membership Agreement with
respect to its motel property in or near Benson, Arizona.

Best Western is represented by:

     THE HELMS LAW FIRM, P.L.C.
     Michael G. Helms - 014470.
     2600 North Central Avenue, Suite 940
     Phoenix, AZ 85004
     Telephone: (602) 358-2060

Pima County, which holds secured claims for real and personal
property taxes, said the Debtors' Amended Plan provides for
payment of the County's secured claims on real and personal
property in equal monthly installments "over a period not
exceeding five (5) years from the Effective Date" of the Plan.
Pima County, however, argues 11 U.S.C. Sec. 1129(a)(9)(C)(ii) and
(D) require payments to be completed within 60 months from the
date of the order of relief.

Timothy H. Shaffer -- tshaffer@morrisanderson.com -- at
MorrisAnderson & Associates, Ltd., receiver of non-debtors "Sierra
Vista Chevron" and "Benson Little General", said Ted Dunlap has
refused to comply with the Receivership Order, and ingnored the
Receiver's offers to reach a fair resolution regarding various
issues.  Mr. Dunlap has failed to give the Receiver notice when,
for example, he declines to renew the Receivership Properties'
insurance, or terminates the Receivership Properties' utilities.

The Receiver is represented by:

     Dale C. Schian, Esq.
     Cody J. Jess, Esq.
     SCHIAN WALKER, P.L.C.
     1850 North Central Avenue, #900
     Phoenix, AZ 85004-4531
     Telephone: (602) 277-1501
     Facsimile: (602) 297-9633
     E-mail: ecfdocket@swazlaw.com

The Debtors defended their Plan in a MEMORANDUM IN SUPPORT OF
CONFIRMATION AND RESPONSE TO CONFIRMATION OBJECTIONS.  They said
confirmation of the Plan is warranted and best serves the
interests of all creditors and parties in the case.  "The Debtors
respectfully request that the Court provide the Debtors the
opportunity to rehabilitate through confirmation of the Plan
rather than liquidate through foreclosures of assets and
conversion of these cases as requested by Pineda and CCB," they
said.

A copy of the Debtors' Memorandum is available at:

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

                    Bid to Convert or Dismiss

The Court also considered these matters at the Feb. 7 hearing:

     -- Motion to Convert to Chapter 7 filed by Canyon Community
        Bank, and

     -- Motion for Immediate Stay Relief and Termination of Cash
        Collateral Authority, or in the Alternative, Motion to
        Convert to Chapter 7, filed by Pineda Grantor Trust II

After the Feb. 7 hearing, Judge Whinery said "the motions to
convert or dismiss will be re-scheduled."

In a Feb. 18 order, the Court directed QHI to strictly comply with
the terms of the Cash Collateral Order, and barred QHI from making
any transfers of cash collateral to insiders or affiliates except
for ordinary salary or payroll payments or reimbursement to Dunlap
Oil for ordinary payroll expenses and tax obligations of QHI paid
by Dunlap Oil on QHI's behalf.

                 About Dunlap Oil and Quail Hollow Inn

Dunlap Oil Company, Inc., and Quail Hollow Inn, LLC, sought
Chapter 11 protection (Bankr. D. Ariz. Case No. 12-23252 and
12-23256) on Oct. 24, 2012.  Founded in 1958, Dunlap Oil is a
Willcox, Arizona-based operator of 14 gasoline services stations.
QOH owns the 89-room outside corridor Best Western Plus Quail
Hollow hotel in Willcox.  The two companies are owned and operated
by the Dunlap family.

The Hon. Brenda Moody Whinery presides over the case.  John R.
Clemency, Esq., and Lindsi M. Weber, Esq., at Gallagher & Kennedy,
P.A., serve as the Debtors' counsel.  Peritus Commercial Finance
LLC serves as financial advisor.  Quail Hollow Inn also hired
Sally M. Darcy of McEvoy Daniels & Darcy P.C. for the limited
purpose of handling any claims, issues, and/or disputes between
QHI and Best Western International, Inc.  The Debtors' lead
counsel, Gallagher & Kennedy, P.A., has a conflict precluding its
representation of the Debtor in matters relating to Best Western.

QOH declared assets of at least $1 million and debts exceeding
$10 million.  DOC estimated assets and debts of $10 million to
$50 million.

The petitions were signed by Theodore Dunlap, president.

Ilene J. Lashinsky, the U.S. Trustee for Region 14, has appointed
three creditors to serve on an Official Committee of Unsecured
Creditor for the Chapter 11 bankruptcy case of Dunlap Oil Company.
The Committee tapped Nussbaum Gillis & Dinner, P.C., as its
counsel.

Pineda Grantor Trust II, successor-in-interest to Compass Bank, is
represented by Steven N. Berger, Esq., and Bradley D. Pack, Esq.,
at Engelman Berger, P.C.

Canyon Community Bank NA is represented by Pat P. Lopez III, Esq.,
Rebecca K. O'Brien, Esq., and Jeffrey G. Baxter, Esq., at Rusing
Lopez & Lizardi, P.L.L.C.


DUTCH LLC: Moody's Assigns 'B2' CFR & Rates $200M Term Loan 'B2'
----------------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating
and B2-PD Probability of Default Rating to Dutch LLC ("Dutch").
Moody's also assigned a B2 rating to the company's proposed $200
million senior secured term loan and a Ba2 rating to the proposed
$20 million super priority senior secured revolving credit
facility. The rating outlook is stable.

Proceeds from the term loan and modest revolver borrowings will be
used to refinance the company's existing term loan and mezzanine
debt, and pay associated fees and expenses. The company will have
leverage in the low-4 times range and EBITA/interest expense of
high-3 times (Moody's-adjusted) on a pro-forma basis as of January
4, 2014. The transaction is expected to reduce annual interest
payments by about $4 million.

The following ratings were assigned:

Dutch LLC:

Corporate Family Rating at B2

Probability of Default Rating at B2-PD

$20 million senior secured super priority revolving credit
facility due 2019, at Ba2 (LGD1, 2%)

$200 million senior secured term loan B due 2020, at B2 (LGD4,
51%)

Stable outlook

The ratings are subject to receipt and review of final
documentation.

Ratings Rationale

The B2 Corporate Family Rating reflects Dutch's limited scale,
narrow focus in the contemporary women's apparel category, and
remaining key man risk associated with reliance on designer and
founder Serge Azria despite the recent expansion of the company's
management team. The rating also considers the limited track
record of the company's three brands, with the oldest one
established in 2004, as well as significant concentration with a
few high-end department stores. In Moody's view, these factors
require the company to maintain stronger credit metrics than
similarly rated apparel peers. The rating also incorporates
Dutch's strong operating margins, which in Moody's view reflect
the company's effective execution, and good liquidity profile.

The Ba2 rating on the company's proposed revolver reflects its
first lien on all assets and capital stock, and payment priority
ahead of the term loan. The B2 rating on the proposed term loan
reflects its predominance in the capital structure and first lien
on all assets and capital stock.

The stable outlook reflects Moody's expectation that the company
will maintain strong operating performance and good liquidity.

Ratings could be downgraded if the company experiences negative
trends in revenues or operating margins, indicating that the
product is no longer resonating with the company's target
customer. Quantitatively, ratings could be downgraded if
debt/EBITDA is sustained above 4.5 times. Ratings could also be
lowered if the company's financial policies become more aggressive
or if liquidity weakens.

In view of the company's limited scale and narrow product focus,
an upgrade is unlikely in the near term. Over the intermediate
term, an upgrade would require the company to (i) demonstrate a
commitment to more conservative financial policies, including debt
repayment; (ii) reduce its dependence on luxury department stores
by expanding its direct-to-consumer presence through new store
openings, international expansion, and e-commerce, and (iii)
maintain healthy profit margins, stable operating performance and
good liquidity.

The principal methodology used in this rating was the Global
Apparel Companies published in May 2013. Other methodologies used
include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.

Dutch LLC ("Dutch") is a designer, marketer and
wholesaler/retailer of three brands: Joie, Equipment and
Current/Elliott. The company's products are sold globally in
luxury department stores such as Neiman Marcus, Nordstrom, Saks
Fifth Avenue and Bloomingdales, specialty and independent stores,
as well as in 11 company-operated stores in the United States.
Revenues for the fiscal year ended January 4, 2014 were
approximately $206 million. The company is owned by TA Associates
(approximately 60%) and founder Serge Azria (approximately 40%).


DYNAVOX INC: Speech-Technology Company Files for Bankruptcy
-----------------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
speech-technology company DynaVox Inc. and two affiliates have
filed for Chapter 11 bankruptcy protection in a bid to put the
brakes on a move by secured lenders.

According to the report, the company is grappling with
restructuring its assets and debts estimated at between $10
million and $50 million.

First to file for protection, on April 6, was DynaVox Intermediate
LLC, which was the focus of a threatened collateral sale by JEC
Capital Partners LLC and Fondren Management LP, the Journal
related.

JEC and Fondren bought DynaVox's secured debt last month, the
culmination of a process that saw the troubled Pittsburgh company
searching for a deal or refinancing to bail it out of financial
trouble, the report further related.

A supplier of systems and software to help people with speech,
language and learning challenges, DynaVox warned shareholders last
year it was under pressure to pay off debts, the report said.

                         About DynaVox Inc.

DynaVox Inc. (OTC: DVOX) is a holding Company with its
headquarters in Pittsburgh, Pennsylvania, whose primary operating
entities are DynaVox Systems LLC and Mayer-Johnson LLC.  DynaVox
provides speech generating devices and symbol-adapted special
education software to assist individuals in overcoming their
speech, language and learning challenges.

DynaVox reported net loss attributable to the Company of $9.53
million on $64.95 million of net sales for the year ended June 28,
2013, as compared with a net loss attributable to the Company of
$18.45 million on $97.31 million of net sales for the year ended
June 29, 2012.  The Company's balance sheet at June 28, 2013,
showed $34.94 million in total assets, $27.17 million in total
liabilities, and $7.76 million in total equity.

Deloitte & Touche LLP, in Pittsburgh, Pennsylvania, issued a
"going concern" qualification on the consolidated financial
statements for the year ended June 28, 2013.  The independent
auditors noted that the Corporation's default under the 2008
Credit Facility and the continuing decline in revenue, earnings,
and cash flows from historical levels raise substantial doubt
about its ability to continue as a going concern.


DYNAVOX INC: Case Summary & 9 Unsecured Creditors
-------------------------------------------------
Debtor:
DynaVox Intermediate LLC
        2100 Wharton Street, Suite 400
        Pittsburgh, PA 15203
        DynaVox Inc.                                    -
        DynaVox Systems Holdings LLC


Case No.: 14-10785

Affiliates that separately filed for bankruptcy on April 7:

   1. DynaVox Inc.

   2. DynaVox Systems Holdings LLC

Type of Business: Speech Technology Company

Chapter 11 Petition Date: April 6, 2014

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Hon. Peter J. Walsh

Debtor's Counsel: William E. Chipman, Jr., Esq.
                  COUSINS, CHIPMAN & BROWN, LLP
                  The Nemours Building
                  1007 North Orange Street, Suite 1110
                  Wilmington, DE 19801
                  Tel: 302-295-0193
                  Fax: 302-295-0199
                  E-mail: chipman@ccbllp.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Erin L. Russell, authorized
representative.

List of DynaVox Intermediate's 9 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Bureau of Labor                                        Unknown

Bureau of Workers Comp.                                Unknown

Delaware Dept of State                                 Unknown

Delaware Division of Rev                               Unknown

Internal Revenue Service                               Unknown

JEC-BR Parnters, LLC                                   $13,525,050
c/o Samuel S. Ory, Esq.
Frederick Dorwart, Lawyers
124 East Fourth Street
Tulsa, OK 74103

Pennsylvania Dept. of Rev                              Unknown

Unemployment Comp Dept of                              Unknown
Labor & Industry

Unemployment Comp                                      Unknown
Office of Chief Counsel


ELBIT IMAGING: Ron Hadassi Named Board Chairman
-----------------------------------------------
Elbit Imaging Ltd.'s Board of Directors has appointed Mr. Ron
Hadassi as Chairman of the Board of Directors of the Company.

                     About Elbit Imaging Ltd.

Tel-Aviv, Israel-based Elbit Imaging Ltd. (TASE, NASDAQ: EMITF)
hold investments in real estate and medical companies.  The
Company, through its subsidiaries, also develops shopping and
entertainment centers in Central Europe and invests in and manages
hotels.

Elbit Imaging disclosed a loss of NIS455.50 million on NIS671.08
million of total revenues for the year ended Dec. 31, 2012, as
compared with a loss of NIS247.02 million on NIS586.90 million of
total revenues for the year ended Dec. 31, 2011.

Brightman Almagor Zohar & Co., in Tel-Aviv, Israel, expressed
substantial doubt about Elbit Imaging's ability to continue as a
going concern following the financial results for the year ended
Dec. 31, 2012.

The Certified Public Accountants noted that in the period
commencing Feb. 1, 2013, through Feb. 1, 2014, the Company is to
repay its debenture holders NIS 599 million (principal and
interest).  "Said amount includes NIS 82 million originally
payable on Feb. 21, 2013, that its repayment was suspended
following a resolution of the Company's Board of Directors.  The
Company's Board also resolved to suspend any interest payments
relating to all the Company's debentures.  In addition, as of
Dec. 31, 2012, the Company failed to comply with certain financial
covenants relating to bank loans in the total amount as of such
date of NIS 290 million.

The Company's balance sheet at Sept. 30, 2013, showed NIS4.83
billion in total assets, NIS4.96 billion in total liabilities and
a NIS122.24 million shareholders' deficiency.

Since February 2013, Elbit has intensively endeavored to come to
an arrangement with its creditors.  Elbit has said it has been
hanging by a thread for more than five months.  It has encountered
cash flow difficulties and this burdens its day to day activities,
and it certainly cannot make the necessary investments to improve
its assets.  In light of the arrangement proceedings, and
according to the demands of most of the bondholders, as well as an
agreement that was signed on March 19, 2013, between Elbit and the
Trustees of six out of eight series of bonds, Elbit is prohibited,
inter alia, from paying off its debts to the financial creditors -
- and as a result a petition to liquidate Elbit was filed, and
Bank Hapoalim has declared its debts immediately payable,
threatening to realize pledges that were given to the Bank on
material assets of the Company -- and Elbit undertook not to sell
material assets of the Company and not to perform any transaction
that is not during its ordinary course of business without giving
an advance notice to the trustees.

Accountant Rony Elroy has been appointed as expert for examining
the debt arrangement in the Company.

In July 2013, Elbit Imaging's controlling shareholders, Europe-
Israel MMS Ltd. and Mr. Mordechay Zisser, notified the Company
that the Tel Aviv District Court has appointed Adv. Giroa Erdinast
as a receiver with regards to the ordinary shares of the Company
held by Europe Israel securing Europe Israel's obligations under
its loan agreement with Bank Hapoalim B.M.  The judgment stated
that the Receiver is not authorized to sell the Company's shares
at this stage.  Following a request of Europe-Israel, the Court
also delayed any action to be taken with regards to the sale of
those shares for a period of 60 days.  Europe Israel and
Mr. Zisser have also notified the Company that they utterly reject
the Bank's claims and intend to appeal the Court's ruling.


ENERGY TRANSFER: Fitch Rates $400MM Incremental Loan 'BB+'
----------------------------------------------------------
Fitch rates Energy Transfer Equity, L.P.'s (ETE) proposed $400
million incremental loan offering under its secured term loan due
Dec. 2, 2019 'BB+'.  The incremental loans will have similar terms
and be fungible with the existing term loan.  ETE's Issuer Default
Rating (IDR) is 'BB' and its Rating Outlook is Stable.  ETE will
use the term loan proceeds to repay borrowings under its revolving
credit facility and for general partnership purposes.

ETE currently owns the general partner (GP) and approximately 30.8
million Energy Transfer Partners, L.P. (ETP: IDR 'BBB-' with a
Stable Outlook by Fitch) limited partner (LP) units, and 50.2
million ETP Class H units, which track the underlying economics of
the GP and incentive distributions of Sunoco Logistics Partners
L.P. (SXL: IDR 'BBB' with a Stable Outlook).  ETE also owns the GP
interest and 26.3 million Regency Energy Partners LP (RGP; IDR
'BB' with a Stable Outlook) LP units. On Feb. 19, 2014, ETE
acquired Trunkline LNG Company, LLC (TLNG) from ETP. ETP is the
indirect owner of 100% of Sunoco Inc. (SUN) and Panhandle Eastern
Pipe Line Co. (PEPL).  ETP also owns the GP and approximately 33.5
million limited partner (LP) units in SXL.

KEY RATING DRIVERS

Increased Scale and Diversity: Recently completed merger
transactions and asset sales have resulted in a larger, more
diversified, and generally stronger family of Energy Transfer
companies.  On a consolidated basis, the percentage of
contractually supported fee-based margins has gradually increased.
For ETP, which provided more than 90% of ETE's 2013 cash flow,
commodity price exposure has been reduced. Also, ETE's and ETP's
organizational structures have been simplified.

Leverage Metrics Will Weaken Modestly: ETE's adjusted debt-EBITDA,
which measures ETE parent company debt against distributions it
receives from its affiliates, approximated 3.1x in 2013.  In
December 2013, ETE's board authorized the repurchase by ETE of up
to $1 billion of its common units at its discretion.
Approximately $75 million of units had been repurchased as of
Feb. 20, 2014.  Furthermore, ETE has committed to purchase roughly
$400 million of RGP common units in support of RGP's upcoming
acquisition of Eagle Rock Midstream assets.  Fitch expects ETE to
use revolver drawdowns and issue new debt, including the newly
rated term loan, to fund these purchases.  Leverage will likely be
maintained in the 3.0x to 4.0x range, ending 2014 at approximately
3.5x. A material weakening in leverage metrics beyond 4.5x could
result in a negative rating action.

ETP's adjusted consolidated debt/EBITDA ended 2013 at
approximately 4.3x, which is down from 4.6x in 2012.  ETP is
ramping down its aggressive capital expansion program with many
projects recently coming on line.  Depending on growth capital
spending and funding strategies, ETP's adjusted consolidated
debt/EBITDA should range between 4.0x and 4.5x in 2015 and 2016.
Also considered in its rating is ETP's structural subordination to
approximately $5.4 billion of subsidiary debt and uncertainties
resulting from potential future structural changes as management
attempts to further restructure the organization.  A longer term
concern relates to the potential effect on pipeline system
utilization and related re-contracting risk resulting from
changing natural gas supply dynamics.

On Feb. 19, 2014, ETE and ETP completed the transfer of TLNG to
ETE in exchange for the redemption of $1 billion of ETP LP units
held by ETE. ETE also anticipates that the Lake Charles
Liquefaction project, currently being developed by ETE and ETP on
a 60/40 ownership basis will be contributed to TLNG at the closing
of project construction and related financing arrangements which
are anticipated in mid-2015.  Management expects that the export
facility will be project-financed and its debt non-recourse to
ETE. Fitch views the transaction as credit neutral for ETE, ETP,
and PEPL.

Liquidity is Adequate: ETE has access to a $800 million secured
five-year revolving credit facility that matures in October 2018.
ETE's operating affiliates have significant operating flexibility
with adequate liquidity and the ability to fund their planned
growth with capital market transactions.  Potential uses of the
revolver include: funding stock buybacks, future acquisitions, and
to initiate organic growth projects not financed at the MLPs.  ETE
has no debt maturing until 2018.  Approximately $470 million was
drawn under the revolver as of March 25, 2014.

The ETE revolver and Term Loan have 2 financial covenants: a
maximum leverage ratio of 6.0 to 1.0; 7.0 to 1.0 during a
specified acquisition period and fixed charge coverage ratio of
1.5 to 1.0.  ETE notes, term loan and credit facility are secured
by a first priority interest in all tangible and intangible assets
of ETE, including its ownership interests in ETP, RGP, and TLNG.

RATING SENSITIVITIES

Positive: Future developments that may, individually or
collectively, lead to a positive rating action include:

   -- ETE parent company debt to EBITDA maintained below 1.5x;
   -- Improving credit profiles at ETP and RGP.

Negative: Future developments that may, individually or
collectively, lead to a negative rating action include:

   -- Increasing ETE parent company leverage above 4.5x;
   -- Weakening credit profiles at ETP and RGP.


ENERGY TRANSFER: $400MM Upsized Debt No Impact on Moody's Ba2 CFR
-----------------------------------------------------------------
Moody's Investors Service said that Energy Transfer Equity, L.P.'s
(ETE) proposed $400 million upsizing of its senior secured term
loan due 2019 does not impact its Ba2 rating, its Ba2 Corporate
Family Rating (CFR), Ba2-PD Probability of Default Rating (PDR),
SGL-3 Speculative Grade Liquidity Rating or stable outlook.

The term loan will be an add on under the company's existing Term
Loan Agreement dated December 2, 2013 and will be part of the same
Term Loan Agreement. Proceeds of this term loan offering will be
used to repay outstandings under ETE's revolving credit facility,
for working capital and other corporate purposes. The term loan
along with ETE's existing revolving credit facility are secured on
a first priority, pari passu basis by a lien on substantially all
of ETE's and its subsidiaries' tangible and intangible assets,
comprised principally its equity interests in its subsidiaries.

"Moody's views this add on debt offering largely as an exercise in
bolstering ETE's liquidity," commented Andrew Brooks, Moody's Vice
President. "By doing so, ETE's financial flexibility will be
somewhat enhanced as it moves ahead in what Moody's presumes will
be a continuation of its growth and distribution payout
trajectory."

Ratings Rationale

ETE's senior secured Ba2 term loan rating is equal to its Ba2 CFR.
There are no upstream or downstream debt guarantees between ETE
and its subsidiary holdings. ETE's Ba2 CFR, notes and term loan
ratings reflect its stand-alone credit assessment as well as an
analysis under Moody's Loss Given Default (LGD) methodology, which
essentially views ETE level debt as holding company debt
structurally subordinated to debt at operating subsidiaries.

ETE's Ba2 CFR reflects its position atop a complex organizational
structure in which it holds the general partnership (GP) interest,
limited partnership (LP) interests and incentive distribution
rights (IDRs) in Energy Transfer Partners, L.P. (ETP, Baa3 stable)
and Regency Energy Partners LP (RGP, Ba3 positive). Additionally,
effective January 1, ETP contributed its ownership of the
Trunkline liquefied natural gas (LNG) regasification facility to
ETE, which could also form the basis for ETE's development of a
new LNG liquefaction project.

The Ba2 CFR is a function of the consolidated credit quality of
ETE across its portfolio holdings as well as ETE on a stand-alone
basis. The rating recognizes the extensive size and scope of ETE's
indirectly held midstream asset base, but it is pressured by
aggressive growth policies and the structural complexity of its
holdings. The rating is also heavily influenced by ETP's Baa3
rating reflecting the 94% of ETE's cash flow which is derived
through ETP distributions. Debt at ETE is structurally
subordinated to approximately $20.4 billion of outstanding debt at
ETP, RGP and their respective subsidiaries, whose cash
distributions to ETE are residual to their own substantial
operating and debt service requirements. The increased scale and
scope of the combined ETE family's operating footprint is
positive. However, while ETE's stand-alone debt leverage has
dropped to approximately 3x, debt leverage on a fully consolidated
basis exceeds 6x, largely reflecting the extent of subsidiary debt
leverage.

ETE's liquidity is adequate and its day-to-day liquidity needs are
not significant, since it is essentially a flow-through
partnership entity with limited administrative overhead, receiving
cash distributions and paying out its own LP distributions of
substantially all its cash on hand. In February, ETE increased its
$600 million secured revolving credit facility to $800 million;
$470 million was outstanding under the revolver at March 25. The
facility has a December 2018 maturity date. The revolver contains
covenants governing ETE's stand-alone and consolidated leverage
metrics, allowing for an adjusted run rate EBITDA reflecting major
project investments. ETE has limited capital spending
requirements. All subsidiaries are financed with subsidiary level
debt and aside from the potential to provide capital with new
equity or temporarily relinquishing a portion of its IDR proceeds,
ETE has no obligation to provide liquidity to its subsidiaries.

ETE's stable outlook reflects the diversified cash distribution
streams derived from ETP and RGP, and the quality of their
respective assets. ETE's ratings could be downgraded should
consolidated leverage increase on a permanent basis to over 6x
EBITDA. Weakness in ETP's credit profile could pressure ETE's
rating, while a downgrade of ETP's Baa3 rating would prompt an ETE
rating downgrade. Furthermore, should cash distributions to ETE
become compromised through higher leverage or weakness in
distributable cash flows at partnership and subsidiary levels,
ratings could be downgraded. A ratings upgrade could be considered
if ETP's Baa3 rating was upgraded, if overall structural
complexity was meaningfully reduced or if there is a reduction in
consolidated debt leverage.

The principal methodology used in this rating/analysis was the
Global Midstream Energy 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.

Energy Transfer Equity, L.P. (ETE) is a publicly traded master
limited partnership (MLP) headquartered in Dallas, Texas. It holds
the 0.7% GP interest and 30.8 million LP units in Energy Transfer
Partners, L.P., also headquartered in Dallas, Texas. ETP, with
$43.7 billion in total assets, is one of the largest publicly
traded midstream MLPs


ENERGY TRANSFER: S&P Retains 'BB' Rating Following $400MM Add-On
----------------------------------------------------------------
Standard & Poor's Ratings Services said it left its 'BB' issue-
level rating and '4' recovery rating on Energy Transfer Equity
L.P.'s (ETE) $1 billion term loan due 2019 unchanged after the
company added on a proposed $400 million to the debt.  The
partnership intends to use net proceeds from the loan for working
capital purposes and fees on the loan.  S&P expects ETE will have
slightly more than $3.2 billion of debt pro forma for the term
loan issuance.

Dallas, Texas-based ETE is a large publicly traded midstream
energy master limited partnership.

RATINGS LIST

Energy Transfer Equity L.P.
Corporate credit rating             BB/Stable/--

Ratings Unchanged
Energy Transfer Equity L.P.
$1.4 bil term loan due 2019         BB
  Recovery rating                   4


EVERGREEN SKILLS: S&P Assigns 'B-' Corp. Credit Rating
------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on SkillSoft Ltd. to 'B-' from 'B'.  The outlook is
stable.

At the same time, S&P assigned a 'B-' corporate credit rating and
stable outlook to Evergreen Skills Lux S.ar.l. (Evergreen).  S&P
also assigned 'B-' issue-level ratings to Evergreen's proposed
$100 million revolver and $900 million first-lien term loan, with
a recovery rating of '3'indicating S&P's expectation for
meaningful (50%-70%) recovery in the event of a payment default.
In addition, S&P assigned a 'CCC' issue level rating with a
recovery rating of '6' to the proposed $485 million second-lien
term facility.  The '6' recovery rating indicates S&P's
expectation of negligible (0%-10%) recovery in the event of a
payment default.

S&P will withdraw the issue-level ratings on SSI Investments'
rated debt upon the closing of this transaction.

"The downgrade of SkillSoft reflects the company's sharply higher
leverage position with fiscal year-ended Jan. 31, 2014 pro forma
debt leverage of 16.7x, including our treatment of the $1.03
billion of preferred equity certificates (PECs) being invested in
the company by the investors as debt," said Standard & Poor's
credit analyst Jacob Schlanger.

Excluding the PECs, adjusted pro forma debt to EBITDA is 9.7x
compared to the actual level of 5.1x for the time period.

The rating on Evergreen reflects the company's weak business risk
profile assessment, which incorporates the company's narrow
business profile and niche, albeit strong, market position in the
$3.8 billion global off-the-shelf enterprise e-learning market.
This is part of the broader, more than $120 billion global
enterprise learning market, in which the company competes with
other larger and better capitalized companies as well as with in-
house training.  S&P views financial risk as "highly leveraged,"
reflecting the company's private equity ownership and the pro
forma leverage in excess of 9x that the company will have after
this transaction.  S&P views country risk as "very low,"
reflecting a high proportion of sales in North America and Europe,
and industry risk as "intermediate," reflecting the company's
participation in the technology software and services industry.
S&P views management and governance as "fair." No modifiers affect
our initial 'b-' anchor score rating.

The stable outlook reflects S&P's view that the company's
significant recurring revenue base and consistent operating
performance will enable it to preserve positive FOCF, maintain
adequate liquidity, and achieve some reduction in leverage from
the present high levels over the near term.

Although it is unlikely, S&P could lower the rating if performance
deteriorates, resulting in negative free cash flow generation and
less-than-adequate liquidity.

SkillSoft's highly leveraged financial profile currently
constrains the ratings upside.  However, if the company sustains
leverage in the mid 7x area, S&P would consider raising the
rating.


EXPO DISPLAYS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Expo Displays Caribbean Inc.
        PO Box 195457
        San Juan, PR 00919

Case No.: 14-02804

Chapter 11 Petition Date: April 6, 2014

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Judge: Hon. Mildred Caban Flores


Debtor's Counsel: Jacqueline Hernandez Santiago, Esq.
                  HERNANDEZ LAW OFFICES
                  PO BOX 366431
                  SAN JUAN, PR 00936-6431
                  Tel: 787 751-1836
                  E-mail: quiebras1@gmail.com

Total Assets: $431,120

Total Liabilities: $1.65 million

The petition was signed by Alma I. Lopez Mendez, vice-president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb14-2804.pdf


FIRST FINANCIAL: Incurs $313,000 Net Loss in 2013
-------------------------------------------------
First Financial Service Corporation filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K disclosing
a net loss attributable to common shareholders of $313,000 on
$32,422 of total interest income for the year ended Dec. 31, 2013,
as compared with a net loss attributable to common shareholders of
$9.44 million on $41.72 million of total interest income in 2012.
The Company incurred a net loss attributable to common
shareholders of $24.21 million in 2011.

As of Dec. 31, 2013, the Company had $858.61 million in total
assets, $825.79 million in total liabilities and $32.81 million
total stockholders' equity.

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

                        http://is.gd/VEZ9G3

                       About First Financial

Elizabethtown, Kentucky-based First Financial Service Corporation
is the parent bank holding company of First Federal Savings Bank
of Elizabethtown, which was chartered in 1923.  The Bank serves
six contiguous counties encompassing central Kentucky and the
Louisville metropolitan area, through its 17 full-service banking
centers and a commercial private banking center.

In its 2012 Consent Order, the Bank agreed to achieve and maintain
a Tier 1 capital ratio of 9.0 percent and a total risk-based
capital ratio of 12.0 percent by June 30, 2012.

"At December 31, 2012, the Bank's Tier 1 capital ratio was 6.53%
and the total risk-based capital ratio was 12.21%.  We notified
the bank regulatory agencies that one of the two capital ratios
would not be achieved and are continuing our efforts to meet and
maintain the required regulatory capital levels and all of the
other consent order issues for the Bank," the Company said in its
annual report for the year ended Dec. 31, 2012.

First Financial disclosed a net loss attributable to common
shareholders of $9.44 million in 2012, a net loss attributable to
common shareholders of $24.21 million in 2011 and a net loss
attributable to common shareholders of $10.45 million in 2010.

Crowe Horwath LLP, in Louisville, Kentucky, said in its report on
the consolidated financial statements for the year ended Dec. 31,
2012, "[T]he Company has recently incurred substantial losses,
largely as a result of elevated provisions for loan losses and
other credit related costs.  In addition, both the Company and its
bank subsidiary, First Federal Savings Bank, are under regulatory
enforcement orders issued by their primary regulators.  First
Federal Savings Bank is not in compliance with its regulatory
enforcement order which requires, among other things, increased
minimum regulatory capital ratios.  First Federal Savings Bank's
continued non-compliance with its regulatory enforcement order may
result in additional adverse regulatory action."


FIRST MARINER: Incurs $19.1 Million Net Loss in 2013
----------------------------------------------------
First Mariner Bancorp filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
of $19.10 million on $39.70 million of total interest income for
the year ended Dec. 31, 2013, as compared with net income of
$16.11 million on $47.73 million of total interest income in 2012.

As of Dec. 31, 2013, the Company had $1.01 billion in total
assets, $1.04 billion in total liabilities and a $26.85 million
total stockholders' deficit.

Stegman & Company, in Baltimore, Maryland, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that on Feb. 10, 2014, the Company filed a voluntary petition in
the United States Bankruptcy Court under Chapter 11 of the United
States Bankruptcy Code.  As a result, there is no assurance that
the carrying amounts of assets will be realized or that
liabilities will be settled for amounts recorded.  Also, the
Company has insufficient capital per regulatory guidelines and has
failed to reach capital levels required in the Cease and Desist
Order issued by the Federal Deposit Insurance Corporation in
September 2009.  These matters raise 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/BvNcRE

                    About First Mariner Bancorp

First Mariner Bancorp, the holding company for Maryland community
bank 1st Mariner, filed for Chapter 11 bankruptcy on Feb. 10,
2014, in order to sell its bank subsidiary, 1st Mariner Bank, to a
new bank formed by investors.  The case is In re First Mariner
Bancorp, Case No. 14-11952 (D. Md.) before Judge David E. Rice.

The Debtor's bankruptcy counsel if KRAMER LEVIN NAFTALIS & FRANKEL
LLP.  The Debtor's local counsel is Lawrence Joseph Yumkas, Esq.,
at YUMKAS, VIDMAR & SWEENEY, LLC, in Annapolis, Maryland.  The
Debtor's regulatory and corporate counsel if KILPATRICK TOWNSEND &
STOCKTON LLP.  The Debtor's investment banker and financial
adviser is SANDLER O'NEILL + PARTNERS, L.P.

The Debtor has total assets of $5.45 million and total debts of
$60.52 million.


FIRST MARINER: Obtains Final OK on Equity Transfer Procedures
-------------------------------------------------------------
The United States Bankruptcy Court for the District of Maryland
approved, on a final basis, the establishment of a notification
and hearing procedures for transfers of certain equity securities.
The Final Order also establishes notice procedures to govern
certain transfers of First Mariner Bancorp's equity securities, as
well as procedures for objecting to those transfers in certain
circumstances, and provides that transfers of First Mariner
Bancorp equity securities in violation of those procedures are
void.  The Final Order will continue until modified or terminated
by the Bankruptcy Court.

                    About First Mariner Bancorp

First Mariner Bancorp, the holding company for Maryland community
bank 1st Mariner, filed for Chapter 11 bankruptcy on Feb. 10,
2014, in order to sell its bank subsidiary, 1st Mariner Bank, to a
new bank formed by investors.  The case is In re First Mariner
Bancorp, Case No. 14-11952 (D. Md.) before Judge David E. Rice.

The Debtor's bankruptcy counsel if Kramer Levin Naftalis & Frankel
LLP.  The Debtor's local counsel is Lawrence Joseph Yumkas, Esq.,
at Yumkas, Vidmar & Sweeney, LLC, in Annapolis, Maryland.  The
Debtor's regulatory and corporate counsel if Kilpatrick Townsend &
Stockton LLP.  The Debtor's investment banker and financial
adviser is Sandler O'Neill + Partners, L.P.

The Debtor has total assets of $5.45 million and total debts of
$60.52 million.


FOUR OAKS: Incurs $350,000 Net Loss in 2013
-------------------------------------------
Four Oaks Fincorp, Inc., filed with the U.S. Securitie and
Exchange Commission its annual report on Form 10-K disclosing a
net loss of $350,000 on $29.93 million of total interest and
dividend income for the year ended Dec. 31, 2013, as compared with
a net loss of $6.96 million on $34.37 million of total interest
and dividend income in 2012.  Four Oaks incurred a net loss of
$9.09 million in 2011.

The Company's balance sheet at Dec. 31, 2013, shows $821.54
million in total assets, $799.92 million in total liabilities and
$21.62 million in total stockholders' equity.

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

                        http://is.gd/CfJVc6

                          About Four Oaks

Based in Four Oaks, North Carolina, Four Oaks Fincorp, Inc., is
the bank holding company for Four Oaks Bank & Trust Company.  The
Company has no significant assets other than cash, the capital
stock of the bank and its membership interest in Four Oaks
Mortgage Services, L.L.C., as well as $1,241,000 in securities
available for sale as of Dec. 31, 2011.

                         Written Agreement

In late May 2011, the Company and the bank entered into the
Written Agreement with the FRB and the NCCOB.  Under the terms of
the Written Agreement, the bank developed and submitted for
approval, within the time periods specified, plans to:

   * revise lending and credit administration policies and
     procedures at the bank and provide relevant training

   * enhance the bank's real estate appraisal policies and
     procedures

   * enhance the bank's loan grading and independent loan review
     programs

   * improve the bank's position with respect to loans,
     relationships, or other assets in excess of $750,000, which
     are now or in the future become past due more than 90 days,
     are on the bank's problem loan list, or adversely classified
     in any report of examination of the bank, and

   * review and revise the bank's current policy regarding the
     bank's allowance for loan and lease losses and maintain a
     program for the maintenance of an adequate allowance

In addition, the bank agreed that it will:

   * refrain from extending, renewing, or restructuring any credit
     to or for the benefit of any borrower, or related interest,
     whose loans or other extensions of credit have been
     criticized in any report of examination of the bank absent
     prior approval by the bank's board of directors or a
     designated committee of the board in accordance with the
     restrictions in the Written Agreement

   * eliminate from its books, by charge-off or collection, all
     assets or portions of assets classified as "loss" in any
     report of examination of the bank, unless otherwise approved
     by the FRB and the NCCOB, and

   * take all necessary steps to correct all violations of law or
     regulation cited by the FRB and the NCCOB

In addition, the Company has agreed that it will:

   * refrain from taking any form of payment representing a
     reduction in capital from the bank or make any distributions
     of interest, principal, or other sums on subordinated
     debentures or trust preferred securities absent prior
     regulatory approval

   * refrain from incurring, increasing, or guaranteeing any debt
     without the prior written approval of the FRB, and

   * refrain from purchasing or redeeming any shares of its stock
     without the prior written consent of the FRB


FREESEAS INC: Incurs $48.7 Million Net Loss in 2013
---------------------------------------------------
FreeSeas Inc. filed with the U.S. Securities and Exchange
Commission its annual report on Form 20-F disclosing a net loss of
$48.70 million on $6.07 million of operating revenues for the year
ended Dec. 31, 2013, as compared with a net loss of $30.88 million
on $14.26 million of operating revenues in 2012.  The Company
incurred a net loss of $88.19 million in 2011.

As of Dec. 31, 2013, the Company had $87.63 million in total
assets, $74.83 million in total liabilities and $12.79 million in
total shareholders' equity.

RBSM LLP, in New York, 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
incurred recurring operating losses and has a working capital
deficiency.  In addition, the Company has failed to meet scheduled
payment obligations under its loan facilities and has not complied
with certain covenants included in its loan agreements.
Furthermore, the vast majority of the Company's assets are
considered to be highly illiquid and if the Company were forced to
liquidate, the amount realized by the Company could be
substantially lower that the carrying value of these assets.
These conditions among others raise substantial doubt about the
Company's ability to continue as a going concern.

A copy of the Form 20-F is available for free at:

                         http://is.gd/Z1QwzG

                         About FreeSeas Inc.

Headquartered in Athens, Greece, FreeSeas Inc., formerly known as
Adventure Holdings S.A., was incorporated in the Marshall Islands
on April 23, 2004, for the purpose of being the ultimate holding
company of ship-owning companies.  The management of FreeSeas'
vessels is performed by Free Bulkers S.A., a Marshall Islands
company that is controlled by Ion G. Varouxakis, the Company's
Chairman, President and CEO, and one of the Company's principal
shareholders.

The Company's fleet consists of six Handysize vessels and one
Handymax vessel that carry a variety of drybulk commodities,
including iron ore, grain and coal, which are referred to as
"major bulks," as well as bauxite, phosphate, fertilizers, steel
products, cement, sugar and rice, or "minor bulks."  As of
Oct. 12, 2012, the aggregate dwt of the Company's operational
fleet is approximately 197,200 dwt and the average age of its
fleet is 15 years.


FRIENDSHIP DAIRIES: Mullin Hoard's Odell Withdraws From Case
------------------------------------------------------------
Mullin Hoard & Brown, L.L.P., local counsel for the Official
Committee of Unsecured Creditors in the Chapter 11 cases of
Friendship Dairies, notified the Bankruptcy Court that the
appearance of Brad W. Odell, Esq., is withdrawn.

Mullin Hoard also requested that Mr. Odell be removed from ECF
notifications and any other notice concerning the matter.

Darrell Guthrie will continue as lead local counsel for the
Committee in the matter.

                     About Friendship Dairies

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

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

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

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


FRIENDSHIP DAIRIES: Plan Confirmation Hearing Set for May 5
-----------------------------------------------------------
The Bankruptcy Court will convene a hearing on May 5, 2014, at
9:00 a.m., to consider confirmation of the Third Plan of
Reorganization proposed by Friendship Dairies.

As reported in the Troubled Company Reporter on March 18, 2014,
AgStar Financial Services, FLCA, as loan services and attorney in
fact for McFinney Agri-Finance, LLC, objected to the Debtor's
Plan, stating that "Friendship Dairies is at an unpassable
crossroads of its own making.  AgStar pointed out that on the one
hand, the Debtor has appealed the Court's January 7, 2014 Order
granting AgStar stay relief as to its collateral to the U.S.
District Court for the Northern District of Texas.  The appeal is
pending and the District Court has jurisdiction over the Stay
Relief Order.  On the other hand, the Debtor has submitted the
Third Amended Plan, which assumes without reason or authority that
the Debtor will continue to own and operate its real property.
Accordingly, there is a disconnect as the Debtor cannot move
forward with any Third Amended Plan involving the real property
until the District Court resolves the appeal of the Stay Relief
Order.  At this juncture the only feasible plan must involve
liquidation of the livestock or transportation of the livestock to
another site with more confidence in the Debtor's operation.
Unless the District Court reverses the Stay Relief Order, one of
the Debtor's basic assumptions is untenable and the Third Amended
Plan is fatally flawed.  As such, the Court should not consider
the Debtor's Third Amended Plan until the District Court has
resolved the appeal of the Stay Relief Order."

John O'Brien, Esq., at Snell & Wilmer L.L.P., represented AgStar.

                            The Plan

As reported in the Jan. 23, 2014 edition of the TCR, Friendship
Dairies submitted to the Bankruptcy Court on Jan. 14 a Third
Amended Plan to address and overcome concerns raised by the Court
in a memorandum opinion.  The Plan contemplates that all creditors
will be paid in full, or as agreed by such creditor, through the
Debtor's operations over the term of the Plan.

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

     http://bankrupt.com/misc/FRIENDSHIPDAIRIES3plan.pdf

                     About Friendship Dairies

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

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

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

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


FURNITURE BRANDS: Has Deal With PBGC; To File Plan This Month
-------------------------------------------------------------
FBI Wind Down, Inc. (f/k/a Furniture Brands International, Inc.,
and its affiliated entities, and the Official Committee of
Unsecured Creditors appointed in the cases, jointly ask the
Bankruptcy Court to approve a global settlement agreement they
entered into with the Pension Benefit Guaranty Corporation.

They said the deal will pave the way for the expeditious
resolution of the Debtors' chapter 11 cases and ultimately
confirmation of a liquidating chapter 11 plan.

The PBGC Settlement Agreement provides a number of significant
immediate and tangible benefits to holders of general unsecured
claims, including, among others things:

     (a) a $6 million cash contribution by PBGC to other general
unsecured creditors who (i) either vote to accept the chapter 11
plan or do not vote to reject the plan, and (ii) do not object to
confirmation of the plan;

     (b) PBGC agrees to substantially reduce its claims against
the Debtors from an aggregate amount of more than $340 million
to $300 million;

     (c) the Debtors agree that PBGC will have a claim in the
amount of approximately $2.17 million, which is secured against
the proceeds from the sale of the Debtors' foreign non-debtor
affiliates;

     (d) the Creditors' Committee and PBGC agree to support a
liquidating chapter 11 plan that provides for the partial
substantive consolidation of the Debtors, thereby reducing both
the impact of PBGC's joint and several claims on other general
unsecured creditors and the costs of administration and
potential litigation; and

     (e) the Debtors' pension plan will be terminated and, subject
to certain milestones, a pending action in the Eastern District of
Missouri filed by PBGC to enforce its determination that the
Debtors' pension plan should be terminated will be dismissed
with prejudice.

The PBGC Settlement Agreement requires that the Debtors promptly
file a liquidating plan after filing their Motion to approve the
deal.  The Debtors anticipate filing such a plan and related
disclosure statement in advance of the hearing on the Motion.

A hearing on the Motion is set for April 28.  Objections are due
April 18.

The Debtors' unfunded pension obligations were one of the
catalysts for commencing these chapter 11 cases.  Critically, to
the extent that the Debtors and their foreign affiliates are found
to be members of a "controlled group" for purposes of the Employee
Retirement Income Security Act of 1974, as amended, 29 U.S.C.
Sections 1301-1461 (2012), they would be jointly and severally
liable for these unfunded pension obligations.

PBGC has asserted sizeable claims against each of the 19 Debtors,
including:

     (a) a claim in the amount of $73,014,426.32 for unpaid
premiums, of which PBGC asserts that (i) the amount of
$1,723,176.32 represents an administrative expense claim for
annual premiums and (ii) the amount of $71,291,250 represents a
general unsecured claim for premiums relating to the
termination of the Debtors' pension plan;

     (b) a claim in the amount of $8,325,353 for unpaid minimum
funding contributions, of which PBGC asserts the amount of
$570,183 is an administrative expense claim and the amount of
$1,250,273 is a priority claim; and

     (c) a claim in the amount of $260,800,000 for unfunded
benefit liabilities, of which PBGC asserts an unliquidated amount
may be an administrative expense claim and/or priority claim.

PBGC also has asserted a secured claim against the assets of
the Debtors' foreign affiliates for unpaid minimum funding
contributions in the amount of $2,171,338.

The claims asserted by PBGC are by far the largest claims in these
chapter 11 cases.

The Debtors and the Creditors' Committee, and their respective
advisors have reviewed and evaluated numerous avenues to reduce
and minimize the impact of the sizeable claims asserted by PBGC
against each of the Debtors and the Debtors' foreign non-debtor
affiliates.  However, it was also immediately apparent that, given
the size of PBGC's claims, it would be impossible to confirm a
chapter 11 plan without the support of PBGC.  At the same time,
the Parties recognized that it would be extremely difficult to
satisfy the numerosity requirement in section 1126(c) of the
Bankruptcy Code to have accepting classes of general unsecured
creditors unless a meaningful compromise with PBGC, which benefits
other general unsecured creditors, is achieved. Accordingly, the
Debtors and the Creditors' Committee engaged in extensive
negotiations with PBGC to resolve its claims as well as secure
its support for a chapter 11 plan.

                     About Furniture Brands

Furniture Brands International (NYSE:FBN) --
http://www.furniturebrands.com-- engaged in the designing,
manufacturing, sourcing and retailing home furnishings. Furniture
Brands markets products through a wide range of channels,
including company owned Thomasville retail stores and through
interior designers, multi-line/ independent retailers and mass
merchant stores.  Its brands include Thomasville, Broyhill, Lane,
Drexel Heritage, Henredon, Pearson, Hickory Chair, Lane Venture,
Maitland-Smith and LaBarge.

The balance sheet at June 29, 2013, showed $546.73 million in
total assets against $550.13 million in total liabilities.

On Sept. 9, 2013, Furniture Brands International, Inc. and 18
affiliated companies sought Chapter 11 protection (Bankr. D. Del.
Lead Case No. 13-12329).

Attorneys at Paul Hastings LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  Alvarez and Marsal
North America, LLC, is the restructuring advisors.  Miller
Buckfire & Co., LLC is the investment Banker.  Epiq Systems Inc.
dba Epiq Bankruptcy Solutions is the claims and notice agent.

The official creditor's committee is comprised of the Pension
Benefit Guaranty Corp., Milberg Factors Inc. and five suppliers.
The Committee tapped Blank Rome LLP as co-counsel, Hahn &
Hessen LLP as lead counsel, BDO Consulting as financial advisor,
and Houlihan Lokey Capital, Inc., as investment banker.

In November 2013, Furniture Brands won bankruptcy court approval
to sell the business to KPS Capital Partners LP for $280 million.
Private-equity investor KPS formed a new company named Heritage
Home Group LLC to operate the business.  Furniture Brands changed
its name to FBI Wind Down, Inc., following the sale.


GENCO SHIPPING: Signs Up Deal for Debt Swap
-------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that dry-bulk cargo ship operator Genco Shipping & Trading
Ltd. reached agreement last week with its principal creditor
groups on a debt-for-equity swap that will give 81.1 percent of
the new stock to lenders under the $1.06 billion credit facility
dating from 2007.

According to the report, under a Chapter 11 reorganization for the
New York-based company, unsecured creditors are to be paid in
full.

The reorganized company will be financed partly by a $100 million
rights offering for 8.7 percent of the new shares, the report
related.  The 2007 lenders can buy as much as 80 percent in the
rights offering, with the other 20 percent for holders of
convertible notes, the report further related.

In addition, convertible noteholders will have 8.4 percent of the
new shares. Six percent of the shares will go in exchange for
existing warrants, the report added.


GENERAL MOTORS: Safety Watchdog Presses for Air-Bag Probe
---------------------------------------------------------
Jeff Bennett, writing for The Wall Street Journal, reported that
an auto-safety advocacy group is pressing federal regulators to
question General Motors Co. about possible air bag problems in
some Chevrolet Impalas, posing a new avenue of investigation for
an auto maker already juggling a massive faulty-ignitions switch
recall.

According to the report, Center For Auto Safety Director Clarence
Ditlow sent a letter to the National Highway Traffic Safety
Administration on April 7 seeking answers to a defect petition
filed last year questioning whether a control algorithm within the
vehicle's air bag sensors may stop the bags from being deployed in
an accident if an occupant bounces in the passenger seat before
impact.

Air-bag-deployment failures have been linked to 143 fatalities in
front-impact crashes in 2000 through 2010 model-year Impalas,
according to Mr. Ditlow's letter, the report related.  In 98 of
those accidents, the occupants were wearing safety belts. Mr.
Ditlow cites a November 2013 petition filed by accident
investigator Don Friedman of Xprts LLC who called on the NHTSA to
investigate.

A probe or eventual recall over air-bag software could open a new
pandora's box for GM, which has already recalled 6.3 million
vehicles world-wide since mid-February, including 2.6 million
Chevrolet Cobalts and other models for faulty ignition switches
and other safety issues, the report further related.

The petition, however, may explain why NHTSA's acting director
David Friedman told congressional leaders the agency had asked
auto makers and some parts suppliers to explain how air bags are
expected to function under a variety of situations, including
power loss, the report said.

                     About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on
June 1, 2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin,
Esq., and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges
LLP, assist the Debtors in their restructuring efforts.  Al Koch
at AP Services, LLC, an affiliate of AlixPartners, LLP, serves as
the Chief Executive Officer for Motors Liquidation Company.  GM
is also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP
is providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.  Garden City Group is the claims and notice
agent of the Debtors.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Unsecured
Creditors Holding Asbestos-Related Claims.  Lawyers at Kramer
Levin Naftalis & Frankel LLP served as bankruptcy counsel to the
Creditors Committee.  Attorneys at Butzel Long served as counsel
on supplier contract matters.  FTI Consulting Inc. served as
financial advisors to the Creditors Committee.  Elihu Inselbuch,
Esq., at Caplin & Drysdale, Chartered, represented the Asbestos
Committee.  Legal Analysis Systems, Inc., served as asbestos
valuation analyst.

The Bankruptcy Court entered an order confirming the Debtors'
Second Amended Joint Chapter 11 Plan on March 29, 2011.  The Plan
was declared effect on March 31.

On Dec. 15, 2011, Motors Liquidation Company was dissolved.  On
the Dissolution Date, pursuant to the Plan and the Motors
Liquidation Company GUC Trust Agreement, dated March 30, 2011,
between the parties thereto, the trust administrator and trustee
-- GUC Trust Administrator -- of the Motors Liquidation Company
GUC Trust, assumed responsibility for the affairs of and certain
claims against MLC and its debtor subsidiaries that were not
concluded prior to the Dissolution Date.


GENESIS HEALTHCARE: Moody's Lowers Longterm Bond Rating to 'Ba2'
----------------------------------------------------------------
Moody's Investors Service has downgraded Genesis HealthCare
System's (Genesis) long-term bond rating to Ba2 from Ba1. This
action affects $295 million of Series 2013 fixed rate revenue
bonds issued through the County of Muskingum, OH. The outlook is
stable at the lower rating level. The downgrade reflects Genesis'
material decline in operating cash flow margin in FY 2013, which
further weakens already stressed debt ratios.

Genesis is a two-hospital system comprised of Genesis Good
Samaritan and Genesis Bethesda, located less than two miles apart
in Zanesville, OH (A1 general obligation rating) the county seat
of Muskingum County (Aa3 GO rating). The two hospitals combined in
1997, and Genesis is jointly governed by Wisconsin-based
Franciscan Sisters of Christian Charity Sponsored Ministries and
Bethesda Hospital Association.

Summary Ratings Rationale

The downgrade to Ba2 reflects Genesis' material decline in
operating cash flow margin in FY 2013, compared to both FY 2012
actual results and FY 2013 budget. The stable outlook at the lower
rating level factors our expectation that Genesis' operating
margins should stabilize and improve in FY 2014. Also, Moody's
note that despite the challenged operating results, Genesis' cash
on hand remained adequate for a Ba rated credit at fiscal year end
(FYE) 2013.

Challenges

-- Genesis' operating performance was weak in FY 2013 with -3.1%
    operating margin and 2.7% operating cash flow margin, which
    follows a trend of variable results in recent years.

-- Genesis' adjusted debt coverage ratios are weak, including a
    high 15.9 times debt-to-cash flow in FY 2013 (below Baa
    median is 7.0 times).

-- Demographics in Muskingum County are modest, with below
    average median household income levels (US Census Bureau
    data) and an above average unemployment rate (US Bureau of
    Labor Statistics data). Medicaid represented 17.1% of
    Genesis' gross payer mix in FY 2013 (the all ratings median
    is 13.1%).

Strengths

-- Genesis enjoys a distinct market share lead of a broad, rural
    service area.

-- Despite weak operating margins, Genesis continues to maintain
    an adequate 126 days cash on hand at audited FYE 2013.

Outlook

The stable outlook at the lower rating level factors our
expectation that Genesis' operating margins should stabilize and
improve in FY 2014. Also, Moody's note that despite the challenged
operating results, Genesis' cash on hand remained adequate for a
Ba rated credit at FYE 2013 and that Genesis maintains a
distinctly leading market share over its broad service area.

What Could Change The Rating Up

A rating upgrade may be considered if Genesis demonstrates a
materially stronger operating cash flow margin for a sustained
period, leading to stronger debt coverage ratios and improved
balance sheet ratios.

What Could Change The Rating Down

A further downgrade may be considered if Genesis fails to improve
its operating cash flow margin over FY 2013 results, or if there
is any noticeable weakening of balance sheet ratios.


GOLDSTONE MANAGEMENT: Unfinished NY Condo Files to Reorganize
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Goldstone Management Corp., the owner of a half-
completed condominium project in Queens, New York, filed a Chapter
11 petition on April 3 in Central Islip, New York, now that a
market revival has made reorganization possible.

According to the report, the project, on 41st Avenue, has been
dormant for several years.  Recently, Tim Ziss acquired ownership,
intending to accomplish a turnaround with new financing, the
report related.

The project listed a value of $8 million and debt totaling $20.9
million, the report further related.  Debt includes $12.5 million
on mortgages, the report said.

The case is In re Goldstone Management Corp., 14-bk-71450, U.S.
Bankruptcy Court, Eastern District New York (Central Islip).


GRAND CENTREVILLE: Hearing on Case Dismissal Moved to April 10
--------------------------------------------------------------
The hearing on the motion to dismiss the chapter 11 case of Grand
Centreville, LLC is set for April 10, 2014, at 9:30 a.m. at Judge
Robert G. Mayer's Courtroom, 200 South Washington Street, 2nd
Floor, Courtroom I, Alexandria, VA.

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

The Debtor owns the real property located at 13810-13860 Braddock
Road, Centreville, Virginia.  In its schedules, the Debtor
disclosed $40,550,046 in assets and $26,247,602 in liabilities as
of the petition date.


HDOS ENTERPRISES: Court Okays Scouler & Co as Financial Advisor
---------------------------------------------------------------
HDOS Enterprises sought and obtained permission from the Hon. Neil
W. Bason of the U.S. Bankruptcy Court for the Central District of
California to employ the Scouler & Company, LLC as financial
advisor, effective Feb. 3, 2014.

The Debtor requires Scouler & Company to:

   (a) assist the Debtor in developing and implementing a Plan.
       Preparation of the Plan may involve, among other things,
       preparing financial forecasts, engaging in liquidity
       planning, identifying strategic partners for sale or
       merger, identifying cost reduction strategies, and
       developing strategies to restructure the Debtor's capital
       Structure;

   (b) assist the Debtor with implementation of its Plan;

   (c) provide the Debtor's Board of Directors with ongoing,
       periodic assessments of operations and financial
       performance and progress towards achieving the Plan;

   (d) assist the Debtor in conducting ongoing routine
       communications with the Debtor's lenders and other
       creditors, including periodic reviews of the Debtor's
       performance and progress towards achieving its Plan;

   (e) provide such other similar services as may be requested by
       the Board and necessary to maximize enterprise value.

Scouler & Company will be paid at these hourly rates:

       Dan Scouler                  $495
       Kern Gillette                $475
       Michael Riordan              $275

Scouler & Company will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Dan Scouler, founder and CEO of Scouler & Company, 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.

Scouler & Company can be reached at:

       Dan Scouler
       SCOULER & COMPANY, LLC
       1801 Century Park East, Ste. 2400
       Los Angeles, CA 90067
       Tel: (310) 207-2244
       Fax: (310) 556-9629

                     About Hot Dog On A Stick

Established in 1946 in Southern California, Hot Dog On A Stick --
http://www.hotdogonastick.com-- is known for its fair-inspired
menu of corn dogs, lemonades, and a sampling of other menu items
such as cheese on a stick, hot dog in a bun, fries, and funnel
cake sticks.  HDOS is owned by its employees.

HDOS Enterprises sought protection under Chapter 11 of the
Bankruptcy Code on Feb. 3, 2014 (Case No. 14-12028, Bankr. C.D.
Cal.).  The case is assigned to Judge Neil W. Bason.

The Debtor's counsel is represented by Jerome Bennett Friedman,
Esq., Stephen F. Biegenzahn, Esq., and Michael D. Sobkowiak, Esq.,
at Friedman Law Group, P.C., in Los Angeles, California.

The petition was signed by Dan Smith, president and CEO.

The U.S. Trustee has appointed three members to an official
committee of unsecured creditors.  The Committee proposes to
retain Pachulski Stang Ziehl & Jones LLP, in Los Angeles,
California, as counsel.


HDOS ENTERPRISES: Creditors' Panel Hires FTI as Fin'l Advisor
-------------------------------------------------------------
The Official Committee of Unsecured Creditors of HDOS Enterprises
seeks authorization from the U.S. Bankruptcy Court for the Central
District of California to retain FTI Consulting, Inc. as financial
advisor to the Committee, nunc pro tunc to Feb. 19, 2014.

The Committee requires FTI Consulting to:

   (a) assist in the review of financial related disclosures
       required by the Court, including the Schedules of Assets
       and Liabilities, the Statement of Financial Affairs and
       Monthly Operating Reports;

   (b) assist in the preparation of analyses required to assess
       any proposed Debtor-In-Possession financing or use of cash
       collateral;

   (c) assist with the assessment and monitoring of the Debtor's
       short term cash flow, liquidity, and operating results;

   (d) assist with the review of any proposed key employee
       retention or other employee benefit programs;

   (e) assist with the review of the Debtor's analysis of core
       business assets and the potential disposition or
       liquidation of non-core assets;

   (f) assist with the review of the Debtor's cost/benefit
       analysis with respect to the affirmation or rejection of
       various executory contracts and leases;

   (g) assist with the review of the Debtor's identification of
       potential cost savings, including overhead and operating
       expenses reductions and efficiency improvements;

   (h) assist in the review and monitoring of any asset sale
       process, including, but not limited to an assessment of
       the adequacy of the marketing process, completeness of any
       buyer lists, review and quantifications of any bids;

   (i) assist with review of any tax issues associated with, but
       not limited to, claims/stock trading, preservation of net
       operating losses, refunds due to the Debtor, plans of
       reorganization, and asset sales;

   (j) assist in the review of the claims reconciliation and
       estimation process;

   (k) assist in the review of other financial information
       prepared by the Debtor, including, but not limited to,
       cash flow projections and budgets, business plans, cash
       receipts and disbursement analysis, asset and liability
       analysis, and the economic analysis of proposed
       transactions for which Court approval is sought;

   (l) attend meetings and assist in discussions with the Debtor,
       potential investors, banks, other secured lenders, the
       Committee and any other official committees organized in
       these chapter 11 proceedings, the U.S. Trustee, other
       parties in interest and professionals hired by the same,
       as requested;

   (m) assist in the review and preparation of information and
       analysis necessary for the confirmation of a plan and
       related disclosure statement in these chapter 11
       proceedings;

   (n) assist in the evaluation and analysis of avoidance
       actions, including fraudulent conveyances and preferential
       transfers;

   (o) assist in the prosecution of Committee responses/
       objections to the Debtor's motions, including attendance
       at depositions and provision of expert reports/testimony
       on case issues as required by the Committee; and

   (p) render other general business consulting or other
       assistance as the Committee or its counsel may deem
       necessary that are consistent with the role of a financial
       advisor and not duplicative of services provided by other
       professionals in this proceeding.

FTI Consulting will be paid at these hourly rates:

       Senior Managing Directors           $800-$925
       Directors/Managing Directors        $580-$765
       Consultants/Senior Consultants      $300-$550
       Administrative/Paraprofessionals/   $120-$250
       Associates

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

Cynthia Nelson, senior managing director of FTI Consulting,
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.

FTI Consulting can be reached at:

       Cynthia A. Nelson
       FTI CONSULTING, INC.
       633 W. 5th Street, Suite 1600
       Los Angeles, CA 90071-2027
       Tel: (+1 213) 689-1200
       Fax: (+1 213) 689-1220
       E-mail: cynthia.nelson@fticonsulting.com

                    About Hot Dog On A Stick

Established in 1946 in Southern California, Hot Dog On A Stick --
http://www.hotdogonastick.com-- is known for its fair-inspired
menu of corn dogs, lemonades, and a sampling of other menu items
such as cheese on a stick, hot dog in a bun, fries, and funnel
cake sticks.  HDOS is owned by its employees.

HDOS Enterprises sought protection under Chapter 11 of the
Bankruptcy Code on Feb. 3, 2014 (Case No. 14-12028, Bankr. C.D.
Cal.).  The case is assigned to Judge Neil W. Bason.

The Debtor's counsel is represented by Jerome Bennett Friedman,
Esq., Stephen F. Biegenzahn, Esq., and Michael D. Sobkowiak, Esq.,
at Friedman Law Group, P.C., in Los Angeles, California.  Rust
Consulting Omni Bankruptcy, a division of Rust Consulting, serves
as claims, noticing and balloting agent.  The Law Offices of Brian
H. Cole serves as special counsel.  The petition was signed by Dan
Smith, president and CEO.

The U.S. Trustee has appointed three members to an official
committee of unsecured creditors.  The Committee retained
Pachulski Stang Ziehl & Jones LLP, in Los Angeles, California, as
counsel.


HERCULES OFFSHORE: Files Fleet Status Report as of March 24
-----------------------------------------------------------
Hercules Offshore, Inc., posted on its Web site at
www.herculesoffshore.com a report entitled "Hercules Offshore
Fleet Status Report".  The Fleet Status Report includes the
Hercules Offshore Rig Fleet Status (as of March 24, 2014), which
contains information for each of the Company's drilling rigs,
including contract dayrate and duration.  The Fleet Status Report
also includes the Hercules Offshore Liftboat Fleet Status Report,
which contains information by liftboat class for February 2014,
including revenue per day and operating days.  The Fleet Status
Report can be found under the Investor Relations, a copy of which
is available for free at http://is.gd/RrLHVf

                     About Hercules Offshore

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

As of Dec. 31, 2013, the Company had $2.30 billion in total
assets, $1.47 billion in total liabilities and $823.70 million in
equity.

Hercules Offshore incurred a net loss of $68.11 million on $858.30
million of revenue for the year ended Dec. 31, 2013, as compared
with a net loss of $127 million on $618.22 million of revenue in
2012.  The Company incurred a net loss of $76.12 million in 2011.
As of Dec. 31, 2013, the Company had $2.30 billion in total
assets, $1.47 billion in total liabilities and $823.70 million in
equity.

                           *     *     *

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

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


HERCULES OFFSHORE: Gets Requisite Consents for Tender Offer
-----------------------------------------------------------
Hercules Offshore, Inc., had received, as of 5:00 p.m., New York
City time, on March 25, 2014, tenders and consents from the
holders of $220,072,000 in aggregate principal amount, or
approximately 73.36 percent, of its outstanding $300,000,000 7.125
percent Senior Secured Notes due 2017 in connection with its
previously announced cash tender offer and consent solicitation
for the Notes, which commenced on March 12, 2014.  Hercules
Offshore accepted for purchase all Notes tendered prior to the
Consent Expiration.  In connection with the tender offer and
related consent solicitation for the Notes, Hercules Offshore
entered into a supplemental indenture to the indenture governing
the Notes to, among other things, eliminate most of the
restrictive covenants and certain event of default provisions in
the indenture and provides for the release of liens on collateral
securing the Notes and related amendments to the indenture.  Notes
tendered on or prior to the Consent Expiration may no longer be
withdrawn.  The settlement date for Notes tendered on or prior to
the Consent Expiration was March 26, 2014.

The tender offer for the Notes is scheduled to expire at 11:59
p.m., New York City time, on April 9, 2014, unless extended or
earlier terminated by Hercules Offshore.  Notes tendered after the
Consent Expiration but prior to the Expiration Time will not
receive a consent payment, but will receive tender consideration
of $1,051.19 per $1,000 principal amount of Notes accepted in the
offer, plus accrued and unpaid interest up to, but not including,
the date of payment for the Notes.  The final settlement for the
tender offer will be promptly after the Expiration Time and is
expected to be on April 10, 2014, the next business day following
the Expiration Time.

Any Notes not tendered and purchased pursuant to the tender offer
will remain outstanding, and the holders thereof will be subject
to the terms of the supplemental indenture although they did not
consent to the amendments.  However, Hercules Offshore intends to
redeem all Notes that remain outstanding following the Expiration
Time.

Hercules Offshore has engaged Deutsche Bank Securities Inc. to act
as dealer manager and solicitation agent in connection with the
tender offer.  Questions regarding the tender offer may be
directed to Deutsche Bank Securities, Inc., at (212) 250-7527
(collect) or (855) 287-1922 (US toll-free). Requests for
documentation may be directed to D.F. King & Co., Inc., at (800)
488-8075 (US toll-free).

Additional information is available for free at:

                        http://is.gd/YgPMQL

                      About Hercules Offshore

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

Hercules incurred a net loss of $68.11 million in 2013, a net loss
of $127 million in 2012 and a net loss of $76.12 million in 2011.
As of Dec. 31, 2013, the Company had $2.30 billion in total
assets, $1.47 billion in total liabilities and $823.70 million in
equity.

                           *     *     *

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

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


HOUSTON REGIONAL: Taps Conway MacKenzie as Financial Advisor
------------------------------------------------------------
Houston Regional Sports Network, L.P. seeks authorization from the
Hon. Marvin Isgur of the U.S. Bankruptcy court for the Southern
District of Texas to employ Conway MacKenzie, Inc. as financial
advisor.

The Debtor requires Conway MacKenzie to:

   (a) prepare the Initial Monthly Operating Report;

   (b) prepare the Statement of Financial Affairs ("SOFA");

   (c) prepare the Schedules of Assets and Liabilities ("SOAL");

   (d) prepare a 13-week cash collateral budget;

   (e) prepare weekly cash collateral variance reports; and

   (f) prepare Monthly Operating Reports on a monthly basis.

Conway MacKenzie will be paid at these hourly rates:

       John T. Young, Jr., Senior Managing Director    $610
       Bryan M. Gaston, Managing Director              $525
       Jamie L. Chronister, Director                   $465
       Maggie D. Conner, Director                      $425
       Jessie L. York, Director                        $425
       Seth M. Barron, Director                        $425
       Steven A. Geuther, Senior Associate             $355

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

John T. Young, Jr., senior managing director of Conway MacKenzie,
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.

Conway MacKenzie can be reached at:

       John T. Young, Jr.
       CONWAY MACKENZIE MANAGEMENT SERVICES, LLC
       1301 McKinney Street, Suite 2025
       Houston, TX 77010
       Tel: (713) 650-0500
       Fax: (713) 650-0502
       E-mail: jyoung@conwayMacKenzie.com

             About Houston Regional Sports Network

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

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

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

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

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

Judge Marvin Isgur presides over the case.

The Network was officially placed into Chapter 11 bankruptcy
pursuant to a Feb. 7 Order for Relief.

Harry Perrin, Esq., represents Astros owner Jim Crane.  Alan
Gover, Esq., represents the Rockets.

The Astros are represented by Richard B. Drubel, Esq., Colleen A.
Harrison, Esq., and Jonathan R. Voegele, Esq., at Boies, Schiller
& Flexner LLP, in Hanover, NH; and Scott E. Gant, Esq., at Boies,
Schiller & Flexner in Washington, DC.  Comcast Corporation and
NBCUniversal Media, LLC, are represented by Vincent P. Slusher,
Esq., Eli Burriss, Esq., Andrew Mayo, Esq., and Andrew Zollinger,
Esq., at DLA Piper; Arthur J. Burke, Esq., Timothy Graulich, Esq.,
and Dana M. Seshens, Esq., at Davis Polk & Wardwell LLP; and
Howard M. Shapiro, Esq., and Craig Goldblatt, Esq., at Wilmer
Cutler Pickering Hale and Dorr LLP.  Attorney for McLane
Champions, LLC and R. Drayton McLane, Jr., are Wayne Fisher, Esq.,
at Fisher Boyd & Huguenard, LLP.


IAP WORLDWIDE: In Deal With Lender to Reduce Debt 80%
-----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that logistics provider IAP Worldwide Services Inc. said
last week that it reached agreement with lenders to reduce debt by
more than 80 percent.

According to the report, the agreement was reached between IAP's
majority shareholder and a "supermajority" of first- and second-
lien lenders, the Cape Canaveral, Florida-based company said in a
statement.

The restructured company will be financed with a $50 million
revolving credit, the report related.  IAP said it expects to
complete the restructuring in the "very near term," the report
further related.

                        *     *     *

The Troubled Company Reporter, on March 28, 2014, reported that
Standard & Poor's Ratings Services withdrew its 'CC' corporate
credit rating on Cape Canaveral, Fla.-based technical and
logistics services provider IAP Worldwide Services Inc. at the
company's request.  The rating outlook was negative at the time of
withdrawal.


I M B C BLOWMOLDING: April 15 Creditors Meeting in Toronto
----------------------------------------------------------
I M B C Blowmolding Inc. filed for bankruptcy in Canada on March
27, 2014.  A first meeting of creditors will be held April 15,
2014, at 10:00 a.m. at Farber Financial Group located at:

     A. Farber & Partners Inc.
     150 York Street, Suite 1600
     Toronto, ON M5H 3S5
     Telephone: 416-497-0150
     Facsimile: 416-496-3839
     http://www.farberfinancial.com/

I M B C Blowmolding is headquartered at 71 Centennial Road,
Orangeville, Ontario.


IMPULSE LLC: Love Night Club to Be Auctioned Off May 1
------------------------------------------------------
A bankruptcy sale of the former "Love Night Club", a four-story
industrial building with basement that has been converted to a
35,000 +/- SF nightclub, is scheduled for May 1 at 11:00 a.m.

Tranzon Fox will conduct the auction.

The Property and Auction location is 1350 Okie St NE, Washington,
DC. Inspections may be done April 17 at 11 a.m. and April 24 at
1:00 p.m.

The building was gutted in 2001 and retrofitted to its current
use. The finishes are reflective of a quality product to include
marble floorings, granite counter-tops and mahogany paneling along
the walls and upscale lighting fixtures. Three of the four levels
above grade have a dance floor, each with numerous bars and
private seating areas. The fourth floor has a small penthouse
suite. Both the third and fourth floors have covered roof-top
decks. The basement level is currently set-up as a commercial
grade kitchen. The building is situated on a 12,330 SF lot in the
rapidly developing Brentwood area of NE Washington.

For additional information:

     Jeff Stein
     TRANZON FOX
     3819 Plaza Drive
     Fairfax, VA 22030
     Tel: (888) 621-2110

                         About Impulse LLC

Impulse LLC filed a Chapter 11 petition (Bankr. D. D.C. Case No.
13-00791) on Dec. 27, 2013.  The Debtor estimated $0 to $50,000 in
assets and $1 million to $10 million in liabilities.  The largest
unsecured creditor is Eagle Bank with $6,800,000 in claims.

Impulse LLC is located in 1634 Independence Ave. SE, Washington,
D.C. 20003.

Bankruptcy Judge S. Martin Teel, Jr., oversees the case.

Counsel to the Debtor is:

    Kim Yvette Johnson, Esq.
    Law Offices of Kim Y. Johnson
    P.O. Box 643
    Laurel, MD 20725
    Tel: (443) 838-3614
    Fax: 410-332-8033
    Email: kimyjcounsel@aol.com


INSTITUTIONAL SHAREHOLDER: S&P Assigns Prelim B Corp Credit Rating
------------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned a preliminary
'B' corporate credit rating to Rockville, Md.-based Institutional
Shareholder Services Inc.  The outlook is stable.

At the same time, S&P assigned a preliminary 'B+' issue-level
rating to the company's proposed $167 million first-lien senior
secured term loan due 2021 and $20 million revolving credit
facility due 2020.  The preliminary '2' recovery rating indicates
S&P's expectation for substantial (70% to 90%) recovery in the
event of payment default.

S&P also assigned a preliminary 'CCC+' issue-level rating with a
preliminary recovery rating of '6' to ISS's proposed $73 million
second-lien senior secured term loan due 2022.  The preliminary
'6' recovery rating indicates S&P's expectation for negligible (0%
to 10%) recovery in the event of payment default.

S&P will finalize ratings after it reviews the executed loan
documents following the close of the transaction.

"The ratings on ISS reflect our view of the company's 'highly
leveraged' financial risk profile with leverage of 7x pro forma
for the proposed transaction, and its 'weak' business risk profile
derived from its narrow market focus and modest scale," said
Standard & Poor's credit analyst Christian Frank.

Partially offsetting these factors are its leading position in the
proxy advisory market, its high recurring revenues, and the
embedded nature of its products.

S&P expects that ISS's leading market position and high recurring
revenues are likely to result in stable operating performance.

Although not expected over the next 12 months, S&P could lower the
rating if execution errors in its separation from MSCI, client
defections in corporate services, or adverse regulatory actions
cause profits to decline resulting in covenant cushion of less
than 15%, FOCF sustained near breakeven, or total liquidity of
less than $10 million for multiple quarters.

An upgrade is unlikely over the next 12 months because of the
company's high leverage and our view that its private equity
ownership likely precludes sustained de-leveraging.


INTERFAITH MEDICAL: Names Melanie Cyganowski as New CRO
-------------------------------------------------------
Interfaith Medical Center, Inc. seeks permission from the Hon.
Carla E. Craig of the U.S. Bankruptcy Court for the Eastern
District of New York to employ Melanie Cyganowski as new chief
restructuring officer (the "New CRO").

The New CRO will oversee operations and restructuring of IMC's
Hospital and Clinics.  Ms. Cyganowski will utilize professionals
of Otterbourg P.C. ("Otterbourg Professionals") to advise her on
her duties.

The Debtor requires Ms. Cyganowski to:

   (a) assist in developing and implementing a confirmable
       chapter 11 plan to become effective in IMC's chapter 11
case;

   (b) provide advice on the formulation and execution of the
       overall strategy and analysis of alternatives for the
       various restructuring opportunities as they relate to the
       current and future operations of IMC's Hospital and
       Clinics;

   (c) hire, discharge, supervision, and management of all IMC
       employees, including determination from time to time of
       the numbers and qualifications of employees needed in the
       various departments and services of IMC, in each case, as
       they relate to the current and future operations of IMC's
       Hospital and Clinics;

   (d) develop a business plan in conjunction with DOH;

   (e) reorganize IMC's business through, among other things, the
       design and implementation of programs to manage or divest
       assets, improve operations, reduce costs, and restructure;

   (f) develop a program for IMC that seeks to implement care
       coordination and transitional care programs to reform the
       model of operations at IMC and otherwise seeks to reduce
       avoidable hospitalizations;

   (g) develop integrated medical delivery systems that
       coordinate with medical, mental health, and social
       services organizations to transform the current service
       delivery model employed by IMC;

   (h) study the current method and manner of providing primary
       care and support services with the goal of expanding the
       same to reduce avoidable hospitalizations;

   (i) study the current method and manner of providing
       behavioral health services with the goal of transforming
       the current service delivery model employed by IMC;

   (j) interface with regulatory authorities, elected officials,
       community leaders, and organizations regarding the
       operations of IMC's Hospital and Clinics;

   (k) assist IMC's management team in negotiations with
       regulators, union employees, non-union employees,
       creditors and other parties-in-interest relating to the
       operations of IMC's Hospital and Clinics;

   (l) oversee, direct, and make decisions on IMC's behalf
       with respect to plan negotiations and formation regarding
       the operations of IMC's Hospital and Clinics, in such a
       manner as is consistent with the business judgment rule,
       the provisions of local law and the Bankruptcy Code;

   (m) work directly with employees, unions, creditors,
       regulators, community representatives, and other
       stakeholders to facilitate the formation of restructuring
       plans regarding the operations of IMC's Hospital and
       Clinics;

   (n) review IMC's operating results, financial forecasts and
       business plans;

   (o) monitor the progress being made to achieve confirmation of
       a chapter 11 plan and working with the senior management
       team to report the results to appropriate parties;

   (p) provide testimony in the Bankruptcy Court as required or
       appropriate during the chapter 11 case, and providing
       testimony in any other case involving the New CRO's
       engagement; such services also shall include responding to
       subpoenas;

   (q) perform other services as may be requested from time
       to time by IMC's Board or by the Bankruptcy Court; and

   (r) endeavor to ensure the quality of patient care as related
       to the current and future operations of IMC's Hospital and
       Clinics.

The principal economic terms of the New CRO engagement are as
follows:

   -- Compensation for New CRO:

      * Ms. Cyganowski will be paid an hourly rate of $795, not
        to exceed $140,000 per month without prior written
        approval of DASNY and DOH.

   -- Fees for Otterbourg Professionals Advising the New CRO:

      * The Otterbourg Professionals will charge their customary
        hourly rates.  The Otterbourg Professionals shall be
        subject to a separate monthly fee cap of $175,000, unless
        prior written approval to exceed that cap is provided by
        DASNY and DOH.  The range of hourly rates of Otterbourg
        Professionals is as follows:

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

   -- Reimbursement of Expenses: The New CRO will be reimbursed
      for all reasonable, documented, out-of-pocket costs and
      expenses, such as travel, lodging, postage, photocopying
      costs, computer and research charges, and other charges
      customarily recoverable as out-of-pocket expenses, subject
      to the U.S. Trustee Fee Guidelines, with those expenses
      allocable to the Otterbourg Professions not to exceed
      $7,500 per month without prior written approval of DASNY
      and DOH.

Melanie L. Cyganowski, member of the law firm Otterbourg P.C.,
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.

Ms. Cyganowski can be reached at:

       Melanie L. Cyganowski
       OTTERBOURG P.C.
       230 Park Avenue
       New York, NY 10169-0075
       Tel: (212) 905-3677
       E-mail: mcyganowski@otterbourg.com

                About Interfaith Medical Center

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

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

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

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

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


INTERFAITH MEDICAL: Wants to Hire Steven ToneyKorf as New CEO
-------------------------------------------------------------
Interfaith Medical Center, Inc. seeks permission from the Hon.
Carla E. Craig of the U.S. Bankruptcy Court for the Eastern
District of New York to employ ToneyKorf Partners, LLC to provide
the firm's Steven Korf as Debtor's new CEO.

ToneyKorf will also provide temporary staff to assist the new CEO
in his duties.

Mr. Korf would serve as IMC's chief executive officer, reporting
to the New CRO.  The New CEO and any Temporary Staff retained
would provide the following services:

   (a) oversee and manage all operations and related assets of
       IMC's Hospital and Clinics;

   (b) lead communication and negotiation regarding the Debtor's
       Hospital and Clinics operations with outside constituents
       including but not limited to the regulators, elected
       officials, lenders, banks and their respective advisors.
       The New CEO shall serve as the principal contact with
       IMC's creditors with respect to financial and operational
       matters regarding the Debtor's Hospital and Clinics;

   (c) review and assess financial information that has been, and
       that will be, provided by IMC to its creditors regarding
       the Debtor's Hospital and Clinics, including without
       limitation its short-term and long-term projected cash
       flows and operating performance;

   (d) assist in the identification and implementation of cost
       reduction and operations improvement opportunities
       regarding the Debtor's Hospital and Clinics;

   (e) assist other IMC-engaged professionals in developing
       possible restructuring plans or strategic alternatives for
       maximizing the enterprise value of the IMC's various
       business lines;

   (f) analyze all strategic options regarding the Debtor's
       Hospital and Clinics, including, but not limited to,
       mergers, partnerships, closures, or discontinuations of
       operations, in whole or in part, as well as
       recommendations on all options;

   (g) analyze regulatory issues and processes regarding the
       Debtor's Hospital and Clinics;

   (h) oversee the Hospital and Clinics' financial and treasury
       functions regarding the Debtor's Hospital and Clinics
       operations, including: (i) strengthening the core
       competencies in the finance organization, particularly
       cash management, planning, general accounting, financial
       reporting and information management; and (ii) identifying
       and implementing both short-term and long-term liquidity
       generating initiatives;

   (i) lead in negotiations with potential transaction parties
       regarding the Debtor's Hospital and Clinics operations;

   (j) assist in overseeing and driving financial performance
       regarding the Debtor's Hospital and Clinics operations in
       conformity with IMC's business plan;

   (k) lead and manage the Debtor's reorganization professionals
       to improve coordination of efforts to be consistent with
       IMC's overall restructuring goals regarding the Debtor's
       Hospital and Clinics operations;

   (l) manage the development of IMC's revised business plan and
       such other related forecasts as may be required by the
       creditors and DASNY in connection with negotiations
       regarding IMC's Hospital and Clinics operations;

   (m) supervise the preparation of regular reports required by
       the Bankruptcy Court or which are customarily issued by
       IMC's Chief Financial Officer regarding the Debtor's
       Hospital and Clinics operations, as well as provide
       assistance in such areas as testimony before the
       Bankruptcy Court on matters that are within ToneyKorf's
       areas of expertise;

   (n) lead IMC in formulation and negotiation with respect to a
       plan of reorganization regarding the future operations of
       the Hospital and Clinics;

   (o) assist with such other matters as may be requested by
       IMC's Board related to the Temporary Staff's services set
       forth in the ToneyKorf Engagement Letter that are not
       duplicative of work others are performing for IMC; and

   (p) endeavor to ensure the quality of patient care as related
       to the current and future operations of IMC's Hospital and
       Clinics.

The principal economic terms of the ToneyKorf engagement are as
follows:

      -- Personnel: ToneyKorf will provide Mr. Korf as the
         Debtor's New CEO.  ToneyKorf also will provide Temporary
         Staff to support the New CEO as and when necessary,
         subject to approval of the New CRO.  The New CEO will
         oversee the work of any Temporary Staff and ToneyKorf
         will keep the New CRO informed as to the work of
         Temporary Staff.

      -- Compensation for New CEO: Mr. Korf will be paid an
         hourly rate of $725, not to exceed $130,000 per month
         without the prior written approval of DASNY and DOH.

      -- Fees for Temporary Staff: The standard hourly rates of
         Temporary Staff are as follows:

            Partners/Principals             $625-$725
            Directors/Managing Directors    $500-$585
            Managers                        $400-$475
            Associate/Senior Associates     $225-$295
            Paraprofessionals                 $150
            Administrative                    $65

         The aggregate fees of Temporary Staff identified above
         other than the New CEO shall be subject to a monthly cap
         of $100,000.

      -- Reimbursement of Expenses: ToneyKorf will be reimbursed
         for all of its personnel's reasonable, out-of-pocket
         costs and expenses, such as travel, lodging, postage,
         photocopying costs, computer and research charges, and
         other charges customarily recoverable as out-of-pocket
         expenses, subject to the U.S. Trustee Fee Guidelines,
         and not to exceed $7,500 per month without the prior
         written approval of DASNY and DOH.

Steven R. Korf, founding member and senior managing director of
ToneyKorf, 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.

ToneyKorf can be reached at:

       Steven R. Korf
       TONEYKORF PARTNERS, LLC
       1595-14 North Central Avenue
       Valley Stream, NY 11580

                About Interfaith Medical Center

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

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

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

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

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


JAMES RIVER: Files Ch. 11 to Restructure Balance Sheet
------------------------------------------------------
James River Coal Company and its subsidiaries on April 7 filed
voluntary petitions for reorganization under Chapter 11 of the
Bankruptcy Code in the Bankruptcy Court for the Eastern District
of Virginia Richmond Division.

James River intends to use the Chapter 11 process to continue
implementing a comprehensive turnaround plan aimed at addressing
its challenges in the changing coal mining industry.  James River
expects its mining operations and customer shipments to continue
in the ordinary course throughout the restructuring process.

In conjunction with its restructuring, James River will enter into
a $110 million debtor-in-possession (DIP) financing facility with
several large financial funds. Upon approval by the Bankruptcy
Court, the new financing and cash generated from James River's
ongoing operations will be used to support the business during the
restructuring process.

Peter T. Socha, Chairman and Chief Executive Officer commented:
"The coal markets in the U.S. have changed dramatically during the
past several years. Some of these changes are cyclical due to
continued weakness in the real economy. Other of the changes are
more permanent like changes in government environmental
regulations, improved methods to produce natural gas, and
switching between coal basins by domestic power utilities. We have
made a number of large and significant changes to our mine
operations and administrative overhead in response to the changes
in the coal markets. Now we need to adjust our balance sheet and
debt structure to align ourselves to the new industry.

We took this action to restructure under Chapter 11 because it
will allow us to adjust the balance sheet and improve our
liquidity in a controlled and definitive manner. We will also
continue to explore and evaluate potential strategic alternatives
for the Company, such as a capital investment through a plan of
reorganization or a sale of one or more portions of the Company.

We believe this provides our best course of action to support the
best interests of our suppliers, customers, employees and other
critical constituents. We believe we will come out of this a much
stronger and a more financially secure company."

James River has filed various motions with the Bankruptcy Court in
order to ensure the continuation of normal operations, including
requesting authorization to continue paying employee wages and
providing health care and other benefits. James River has also
asked for authority to continue existing customer programs and
intends to pay suppliers in full under normal terms for goods and
services provided after the filing date of April 7, 2014.

Court filings and other information related to these cases are
available on a separate website administered by James River's
claims agent, Epiq Bankruptcy Solutions, LLC, at
http://dm.epiq11.com/JamesRiverCoal.

Davis Polk and Wardwell LLP and Hunton & Williams LLP are serving
as the company's legal advisors, Perella Weinberg is serving as
restructuring financial advisor, and Deutsche Bank Securities is
serving as investment banker and mergers and acquisitions advisor.

                          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.


KENERGY SCIENTIFIC: Provides Update on Annual Report
----------------------------------------------------
Kenergy Scientific Inc. on April 4 provided an update to its
followers regarding the much awaited annual report.  The report
can be found on http://www.knsc.info/(Town Hall Section)
http://knsc.info/content/townhall.php

When new management took over the company in June 2013 the company
was debt ridden, angry creditors, disenfranchised shareholders and
in peril with the medical instruments business failing to meet its
objectives.  Bankruptcy Chapter 11 proceedings were anticipated
and the market was advised in its company filings.  In less than a
year after new management took over the company, management has
been able to turn around the company in a positive way starting
with:

-- The debt reduction approximately 90% or 3.5 Million dollars

-- Developing a cannabis information portal

-- The development of Sparx Business Media (with a line of credit
obtained by a preferred share holder)

-- The company is now looking to do further business in China to
enhance the existing portfolio of assets

-- Seeking to acquire new business for both the cannabis portal
and the Media business to further its growth and expand to other
markets.

More importantly increased shareholder value by several 100
percentage points with aspirations and ambitions to continue on
the same trajectory

More details will follow shortly and on a timely basis.

Headquartered in Ontario, Canada, Kenergy Scientific, Inc.,
operates in the fields of development of various products relating
to solar power generating systems; portable solar powered
products, such as cell phone and personal digital assistance (PDA)
rechargers that are solar rechargeable; solar rechargeable
lantern/flashlight devices; solar backpack rechargers; solar power
audio devices, such as radios; such as radios; wind power
generating systems; and products in the area of healthcare.


KIDSPEACE CORP: Dilworth Paxson to Handle Bond Refinancing
----------------------------------------------------------
The Hon. Richard E. Fehling of the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania authorized Kidspeace Corporation,
et al., to employ Dilworth Paxson LLP as bond counsel in
connection with the refinancing and restructuring of the Lehigh
County General Purpose Authority Revenue Bonds (KisPeace Obligated
Group) Series 1998 and 1999.

As reported in the Troubled Company Reporter on March 3, 2014,
according to Kidspeace, the purpose of the Chapter 11 cases was to
enable the Debtors to restructure their top level debt with the
bondholders, who held claims of $56,206,821, and to effectuate a
restructuring of debt in the alleged approximate amount of
$100,000,000 asserted by the Pension Benefit Guaranty Corporation
as a result of, inter alia, the prepetition termination of the
Debtors' pension plan.

Kidspeace said Dilworth Paxson will:

   a. examine applicable laws;

   b. conduct due diligence;

   c. prepare necessary resolutions and other documents securing
      the bonds;

   d. review certified proceedings; and

   e. provide other related services as may be requested by the
      Debtors and as agreed to by Dilworth.

Marc A. Feller, a partner of Dilworth Paxson, told the Court that
the Debtors' estates will pay the firm up to $175,000 (inclusive
of costs) for its services.  The fee is based upon an estimated
closing of May 1, 2004.  If the closing occur after May 1, 2014,
Dilworth Paxson has the right to seek a fee adjustment with the
Debtors.

                       About KidsPeace Corp.

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

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

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

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

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

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

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

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

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


LDK SOLAR: Subsidiary Files Insolvency Proceedings in Germany
-------------------------------------------------------------
LDK Solar Co., Ltd.'s subsidiary, Sunways AG, has commenced
preliminary insolvency proceedings in the German court.

Following the relevant application of the Management Board of
Sunways AG, the Konstanz local court has issued an order to open
preliminary insolvency proceedings.  The proceedings concern the
assets of Sunways AG with registered office in Konstanz and its
wholly owned subsidiary, Sunways Production GmbH with registered
office in Arnstadt, Germany.  The court appointed attorney at law
Dr. Thorsten Schleich, Singen am Hohentwiel, of the law office
Schleich & Kollegen, as preliminary insolvency administrator.  The
court order also provides for the formation of a preliminary
creditors' committee in the near future.

                           About LDK Solar

LDK Solar Co., Ltd. -- http://www.ldksolar.com-- based in Hi-
Tech Industrial Park, Xinyu City, Jiangxi Province, People's
Republic of China, is a vertically integrated manufacturer of
photovoltaic products, including high-quality and low-cost
polysilicon, solar wafers, cells, modules, systems, power
projects and solutions.

LDK Solar was incorporated in the Cayman Islands on May 1, 2006,
by LDK New Energy, a British Virgin Islands company wholly owned
by Xiaofeng Peng, LDK's founder, chairman and chief executive
officer, to acquire all of the equity interests in Jiangxi LDK
Solar from Suzhou Liouxin Industry Co., Ltd., and Liouxin
Industrial Limited.

LDK Solar Co disclosed a net loss of $1.05 billion on $862.88
million of net sales for the year ended Dec. 31, 2012, as compared
with a net loss of $608.95 million on $2.15 billion of net sales
for the year ended Dec. 31, 2011.

KPMG, in Hong Kong, China, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2012.  The independent auditors noted that the Group has
a net working capital deficit and a deficit in total equity as of
Dec. 31, 2012, and is restricted from incurring additional
indebtedness as it has not met a financial covenant ratio as
defined in the indenture governing the RMB-denominated US$-settled
senior notes.  These conditions raise substantial doubt about the
Group's ability to continue as a going concern.


LEHMAN BROTHERS: Okayed to Amend Schedules for IDB Settlement
-------------------------------------------------------------
The U.S. Bankruptcy Court in Manhattan granted the motion of
Lehman Brothers Holdings Inc. to deem its schedules of liabilities
amended.

Lehman filed the motion to reflect the amount of a claim tied to
certain notes as $2,848,455,358.  The move came after the court
approved its agreement with Israel Discount Bank Ltd., which
authorized the setoff by IDB of certain funds in a Lehman bank
account against its share of the claim.

In accordance with the agreement, IDB provided Euroclear, the
international clearing depository through which it held the
notes, with instructions to mark down the bank's portion of the
notes by EUR4.98 million in nominal principal amount.

Meanwhile, Euroclear instructed BNY, as paying agent for the
notes and holder of the scheduled claim, with respect to this
mark down.  As a result of this mark down, the nominal principal
amount of IDB's remaining share of the notes was reduced to
EUR20,000.

In order to properly account for the settlement with IDB and the
mark down of the bank's share of the notes, the scheduled claim
must be reduced to reflect the mark down of the portion of the
notes held by IDB that were satisfied pursuant to the agreement,
according to court papers.

                     About Lehman Brothers

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

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

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

The Debtors' bankruptcy cases were initially handled by Judge
James M. Peck.  In March 2014, the case was reassigned to Judge
Shelley C. Chapman after Judge James M. Peck resigned to join
Morrison & Foerster LLP as co-chairman of the restructuring and
insolvency practice.

Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

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

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

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

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

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


LEHMAN BROTHERS: Settles Picbengro LLC Lawsuit
----------------------------------------------
Lehman Brothers Holdings Inc. signed an agreement that would
require the company to withdraw its motion to enforce the
so-called automatic stay against Picbengro, LLC.

The motion was filed last year in U.S. Bankruptcy Court in
Manhattan after Picbengro sued Lehman and its commercial paper
unit to recover claims tied to the 2004 acquisition of a company,
which indirectly owns The Culver Studios located in California.

Picbengro, which owns 10% of that company, accused Lehman of
breach of fiduciary duty in forming and managing certain
companies in The Culver Studios' ownership structure.

The district court overseeing the case put it on hold until
Lehman's motion is resolved.

Under the deal, Picbengro will file an amended complaint in the
district court dismissing Lehman from the case immediately after
the deal is approved by the bankruptcy court.  In return, Lehman
agreed to withdraw its motion.

A full-text copy of the agreement is available without charge
at http://is.gd/8w0wfy

                     About Lehman Brothers

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

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

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

The Debtors' bankruptcy cases were initially handled by Judge
James M. Peck.  In March 2014, the case was reassigned to Judge
Shelley C. Chapman after Judge James M. Peck resigned to join
Morrison & Foerster LLP as co-chairman of the restructuring and
insolvency practice.

Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

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

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

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

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

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


LEHMAN BROTHERS: Files 52nd Report on Claims Settlements
--------------------------------------------------------
Weil Gotshal & Manges LLP, Lehman's legal counsel, filed a status
report on the settlement of claims it negotiated through the
so-called alternative dispute resolution process.

The report noted that since the filing of the 51st status report,
Lehman has served seven additional ADR notices, bringing the
total number of notices served to 458.

The company also reached settlements with counterparties in 12
ADR matters, all as a result of mediation.  Upon closing of those
settlements, the company will recover a total of $2,250,637,853.
Settlements have now been reached in 323 ADR matters involving
429 counterparties.

As of March 26, 2014, 144 of the 156 ADR matters that reached the
mediation stage and concluded were settled through mediation.
Only 12 mediations were terminated without settlement.

Twenty-one more mediations are scheduled to be conducted for the
period April 1 to June 19, 2014.

                     About Lehman Brothers

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

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

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

The Debtors' bankruptcy cases were initially handled by Judge
James M. Peck.  In March 2014, the case was reassigned to Judge
Shelley C. Chapman after Judge James M. Peck resigned to join
Morrison & Foerster LLP as co-chairman of the restructuring and
insolvency practice.

Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

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

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

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

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

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


LEHMAN BROTHERS: Credican Taps Diaz Reus as Agent
-------------------------------------------------
Credican C.A. asked U.S. Bankruptcy Judge Shelley Chapman to
issue an order recognizing Diaz Reus & Targ, LLP as its attorneys
and agent for the firm.

The Venezuelan firm made the request in connection with the fifth
distribution to Lehman Brothers Holdings Inc.'s creditors, which
is scheduled to take place on April 3, and future payments under
Lehman's $65 billion payout plan.

Credican also asked the bankruptcy judge to issue an order
directing that any future payments due to the firm on account of
its claims be payable to Diaz Reus' trust account.

The firm asserts three claims against Lehman, assigned as Claim
Nos. 64729, 62722 and 62726.

Claim No. 64729, which seeks to recover about $9.5 million, is an
unsecured claim initially filed by Banco Canarias de Venezuela,
Banco Universal, C.A.

The claim is based on Lehman's alleged guarantee of its European
unit's obligations under a derivatives deal with Banco Canarias.
A disputed claim, Claim No. 64729 had been transferred from the
bank to Credican.

Claim No. 62722, which asserts payment of more than $8.06
million, was also originally filed by Banco Canarias.  It is
based on Lehman's guarantee of a structured note issued by Lehman
Brothers Treasury Co. B.V.

The claim was previously allowed in the amount of $7.9 million
because of Banco Canarias' alleged failure to respond to a notice
from Lehman regarding the claim.

Meanwhile, Credican filed Claim No. 62726 to seek payment of
$392.5 million from Lehman based on the latter's guarantee of two
structured notes issued by Lehman Brothers Treasury.

Lehman previously proposed to allow the claim in a reduced amount
of $13.36 million.  Credican, however, did not agree with
Lehman's proposal.

                          Lehman Responds

In a court filing, Lehman said it takes no position as to whether
or not Diaz Reus should be recognized as Credican's legal counsel
and agent.  The company, however, said it will withhold any
future distributions on account of Claim Nos. 62722 and 62726 as
well as Claim No. 64729, if it becomes an allowed claim, until
Credican's motion is resolved.

                     About Lehman Brothers

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

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

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

The Debtors' bankruptcy cases were initially handled by Judge
James M. Peck.  In March 2014, the case was reassigned to Judge
Shelley C. Chapman after Judge James M. Peck resigned to join
Morrison & Foerster LLP as co-chairman of the restructuring and
insolvency practice.

Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

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

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

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

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

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


LEHMAN BROTHERS: Agostini Trusts Drop Bid for Shares, Cash
----------------------------------------------------------
The lawyer representing The Edward J. Agostini Living Trust and
the Sylvia Agostini Living Trust has withdrawn his motion for an
order requiring Lehman Brothers OTC Derivatives Inc. to return
properties owned by the trusts.

The properties consist of 3,592 shares of United Parcel Service
Inc. and $209,687 in cash.

The trusts delivered the properties to Lehman Brothers OTC in
2007 as collateral under certain derivative deals.  The
properties secure the trusts' obligations to deliver to the
Lehman unit 50,000 shares of UPS early last year.

Of the 50,000 shares originally delivered as collateral, Lehman
Brothers OTC is entitled to keep 46,408 shares and is required to
return 3,592 shares as well as $209,687 in cash, according to
court papers.

The trusts are represented by:

     Craig J. Albert, Esq.
     Albert PLLC
     733 Third Avenue, l5th Floor
     New York, NY 10017
     Tel: (646) 790-5840

                     About Lehman Brothers

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

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

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

The Debtors' bankruptcy cases were initially handled by Judge
James M. Peck.  In March 2014, the case was reassigned to Judge
Shelley C. Chapman after Judge James M. Peck resigned to join
Morrison & Foerster LLP as co-chairman of the restructuring and
insolvency practice.

Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

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

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

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

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

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


LINC USA: Moody's Withdraws Caa2 CFR & Caa3 Sr. Secured Rating
--------------------------------------------------------------
Moody's Investors Service has withdrawn all of Linc USA GP's
ratings as well as its stable outlook. The ratings withdrawn
include Linc's Caa2 Corporate Family Rating, Caa2-PD Probability
of Default Rating, Caa3 senior secured rating and SGL-3
Speculative Grade Liquidity Rating.

Issuer: Linc USA GP

Withdrawals:

Corporate Family Rating, Withdrew Caa2

Probability of Default Rating, Withdrew Caa2-PD

Senior Secured Rating, Withdrew Caa3 (LGD4, 62%)

Speculative Grade Liquidity Rating, Withdrew SGL-3

Outlook Action:

Withdrew Stable Outlook

Ratings Rationale

The withdrawals were done for Moody's own business reasons.

Linc USA GP is a Houston, Texas based private oil and gas
exploration and production (E&P) company with primary producing
assets in the onshore Gulf Coast region of Texas and Louisiana.


MADISON PARK CHURCH: Chapter 11 Plan Declared Effective
-------------------------------------------------------
Traci Moyer, writing for The Herald Bulletin, reported that
Madison Park Church of God has restructured its debts and emerged
from bankruptcy.

Rob Spaulding, business administrator for Madison Park Church of
God, said: "We entered Chapter 11 with an agreement already in
place and we just had to work through the process."

The report recounts the church filed for bankruptcy in July after
failing to pay a $5.8 million balloon payment on a bond issued in
2007.  The initial loan was for almost $17.5 million to fund
construction of the church's community life center and its
infrastructure located near exit 226 on Interstate 69.  The loan,
managed by a California firm, was made prior to the real estate
values plummeting in the recent economic downturn.

According to the report, Mr. Spaulding said the repayment of the
loan has since been renegotiated and the church is now on a new
payment schedule.

The report also related that David Whitmoyer, vice chair for the
board of elders, said there was no debt reduction from the court
proceedings and that was not the reason for the bankruptcy filing.
"We had known for a couple of years we would not be able to make
those payments," Whitmoyer said.  He said negotiations with
creditors were unsuccessful until the bankruptcy was filed.

The Bankruptcy Court in Indianapolis, Indiana, confirmed the
church's Chapter 11 plan in an order dated Dec. 13.

According to a report in December by Bill Rochelle, the bankruptcy
columnist for Bloomberg News, the church filed for Chapter 11
after the General Motors Co. plant in town closed.  The church had
purchased a 200-acre site in 2007 and built a new church using
three bridge loans. One $6 million loan matured in July and
couldn't be repaid because the church was unable to sell some of
the real estate.

The plan, accepted by all creditor classes, is designed to pay off
a $5.6 million secured claim over 10 years.

A $6.8 million first mortgage is to be paid fully over 20 years,
while a $8.8 million claim on two issues of unsecured bonds is due
for payment in full over 25 years.

The church listed assets of $9.9 million against debt totaling $22
million, including $18.7 million in secured claims.

The Madison Park Church of God in Anderson, Indiana, filed a
petition for Chapter 11 reorganization (Bankr. S.D. Ind. Case No.
13-07430) on July 12, 2013, in Indianapolis, saying it was the
victim of the recession and the closing of a General Motors Co.
plant.


MAGNACHIP SEMICONDUCTOR: Gets NYSE Listing Non-Compliance Notice
----------------------------------------------------------------
MagnaChip Semiconductor Corporation, a Korea-based designer and
manufacturer of analog and mixed-signal semiconductor products, on
April 4 disclosed that, as expected, on April 2, 2014, the Company
received a letter from the New York Stock Exchange indicating that
the Company is not in compliance with the NYSE's continued listing
requirements under the timely filing criteria outlined in Section
802.01E of the NYSE Listed Company Manual as a result of its
failure to timely file its Annual Report on Form 10-K for the
fiscal year ended December 31, 2013.

As previously disclosed by the Company in its Current Report on
Form 8-K filed with the Securities and Exchange Commission on
March 11, 2014 and Form 12b-25 filed with the SEC on March 17,
2014, the Audit Committee of the Company's Board of Directors
determined that the Company incorrectly recognized revenue on
certain transactions and as a result will restate its financial
statements for each of the first, second and third quarters of
2013, all quarters in 2012 and for the years ending 2012 and 2011,
which resulted in the Company's inability to timely file its 2013
Annual Report on Form 10-K.  The Company and its advisors are
working diligently to complete the previously announced internal
review and restatement.  While substantial progress has been made,
it is expected that this review and work with regard to the
previously announced restatement will take several more months,
and the Company is currently unable to estimate when it will be in
a position to file its 2013 Annual Report on Form 10-K.

The NYSE has informed the Company that, under the NYSE rules, the
Company will have six months (until October 1, 2014) to file its
2013 Annual Report on Form 10-K with the SEC.  If the Company
fails to file its Form 10-K prior to such date, then the NYSE may,
in its sole discretion, grant an additional extension of up to six
months depending on the specific circumstances.  The letter from
the NYSE also notes that the NYSE may commence delisting
proceedings at any time during the extension period if the
circumstances warrant.

              About MagnaChip Semiconductor Corporation

Headquartered in South Korea, MagnaChip --
http://www.magnachip.com-- is a Korea-based designer and
manufacturer of analog and mixed-signal semiconductor products for
high-volume consumer applications.  MagnaChip believes it has one
of the broadest and deepest ranges of analog and mixed-signal
semiconductor platforms in the industry, supported by its 30-year
operating history, a large portfolio of registered and pending
patents, and extensive engineering and manufacturing process
expertise.


MARTIFER SOLAR: Panel Hires Larson & Zirzow as Local Counsel
------------------------------------------------------------
The Official Committee of Unsecured Creditors of Martifer Solar
USA, Inc. asks for permission from the U.S. Bankruptcy Court for
the District of Nevada to retain Larson & Zirzow, LLC as local
counsel to the Committee, nunc pro tunc to Feb. 28, 2014.

The Committee requires Larson & Zirzow to:

   (a) assist, advise and represent the Committee in its
       consultations with the Debtor regarding the administration
       of these cases;

   (b) assist, advise and represent the Committee in analyzing
       the Debtor's assets and liabilities, investigating the
       extent and validity of liens and participating in and
       reviewing any proposed asset sales, any asset
       dispositions, financing arrangements and cash collateral
       stipulations or proceedings;

   (c) assist, advise and represent the Committee in any manner
       relevant to reviewing and determining the Debtor's rights
       and obligations under leases and other executory
       contracts;

   (d) assist, advise and represent the Committee in
       investigating the acts, conduct, assets, liabilities and
       financial condition of the Debtor, the Debtor's operations
       and the desirability of the continuance of any portion of
       those operations, and any other matters relevant to this
       case or to the formulation of a plan;

   (e) assist, advise and represent the Committee in its
       participation in the negotiation, formulation and drafting
       of a plan of reorganization;

   (f) assist, advise and represent the Committee in
       understanding its powers and its duties under the
       Bankruptcy Code and Bankruptcy Rules in performing other
       services as are in the interests of those represented by
       the Committee;

   (g) assist, advise and represent the Committee in the
       evaluation of claims and on any litigation matters; and

   (h) provide such other services to the Committee as may be
       necessary in this case.

Larson & Zirzow will be paid at these hourly rates:

       Matthew C. Zirzow             $450
       Zachariah Larson              $450
       Carey Shurtliff               $175

Larson & Zirzow will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Matthew C. Zirzow, Esq., partner of Larson & Zirzow, 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.

Larson & Zirzow can be reached at:

       Matthew C. Zirzow, Esq.
       LARSON & ZIRZOW LLC
       810 S. Casino Center Blvd. Ste. 101
       Las Vegas, NV 89101
       Tel: (702) 382-1170
       Fax: (702) 382-1169
       E-mail: mzirzow@lzlaqnv.com

                       About Martifer Solar

Martifer Solar USA, Inc., and Martifer Aurora Solar LLC filed
separate Chapter 11 bankruptcy petitions (Bankr. D. Nev. Case Nos.
14-10357 and 14-10355) in Las Vegas on Jan. 21, 2014.  Martifer
Solar USA, which is based in Los Angeles, California, estimated
$10 million to $50 million in assets and liabilities.

Bankruptcy Judge August B. Landis oversees the case.  The Debtors
tapped Brett A. Axelrod, Esq., and Micaela Rustia Moore, Esq., at
Fox Rothschild LLP, in Las Vegas, as counsel, and Armory
Consulting Co. as restructuring and financial advisor.  The
Debtors tapped Foley Hoag LLP as special Massachusetts litigation
counsel with respect to a pending litigation relating to EPG
Solar, LLC; and Foley & Lardner LLP as special solar counsel.

Cathay Bank, a prepetition lender, is represented by Michael
Gerard Fletcher, Esq., and Reed S. Waddell, Esq., at Frandzel
Robins Bloom & Csato, L.C.; and Natalie M. Cox, Esq., and Randolph
L. Howard, Esq., at Kolesar & Leatham.

Martifer Solar Inc., the proposed DIP Lender, and ultimate parent
of the Debtors, is represented by Samuel A. Schwartz, Esq., and
Bryan A. Lindsey, Esq., at The Schwartz Law Firm Inc.

Tracy Hope Davis, the U.S. Trustee for Region 17, appointed
five creditors to serve on the Official Committee of Unsecured
Creditors for the Chapter 11 bankruptcy case of Martifer Solar
USA Inc.


MARTIFER SOLAR: Creditors' Panel Hires Pachulski Stang as Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Martifer Solar
USA, Inc. asks for permission from the U.S. Bankruptcy Court for
the District of Nevada to retain Pachulski Stang Ziehl & Jones LLP
as Committee counsel, nunc pro tunc to Feb. 28, 2014.

The Committee requires Pachulski Stang to:

   (a) assist, advise and represent the Committee in its
       consultations with the Debtor regarding the administrator
       of these cases;

   (b) assist, advise and represent the Committee in analyzing
       the Debtor's assets and liabilities, investigating the
       extent and validity of liens and participating in and
       reviewing any proposed asset sales, any asset
       dispositions, financing arrangements and cash collateral
       stipulations or proceedings;

   (c) assist, advise and represent the Committee in any manner
       relevant to reviewing and determining the Debtor's rights
       and obligations under leases and other executory
       contracts;

   (d) assist, advise and represent the Committee in
       investigating the acts, conduct, assets, liabilities and
       financial condition of the Debtor, the Debtor's operations
       and the desirability of the continuance of any portion of
       those operations, and any other matters relevant to this
       case or to the formulation of a plan;

   (e) assist, advise and represent the Committee in its
       participation in the negotiation, formulation and drafting
       of a plan of reorganization;

   (f) assist, advise and represent the Committee in
       understanding its powers and its duties under the
       Bankruptcy Code and the Bankruptcy Rules and in performing
       other services as are in the interests of those
       represented by the Committee;

   (g) assist, advise and represent the Committee in the
       evaluation of claims and on any litigation matters; and

   (h) provide other services to the Committee as may be
       necessary in this case.

Pachulski Stang will be paid at these hourly rates:

       Bradford J. Sandler             $775
       Shirley S. Cho                  $725
       Jason Rosell                    $475
       Patricia Jeffries               $295

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

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

The Court for the District of Nevada will hold a hearing on the
application on April 14, 2014, at 9:30 a.m.

Pachulski Stang can be reached at:

       Shirley S. Cho, Esq.
       PACHULSKI STANG ZIEHL & JONES LLP
       10100 Santa Monica Blvd., Suite 1300
       Los Angeles, CA 90067
       Tel: (310) 277-6910
       Fax: (310) 201-0760
       E-mail: scho@pszjlaw.com

                       About Martifer Solar

Martifer Solar USA, Inc., and Martifer Aurora Solar LLC filed
separate Chapter 11 bankruptcy petitions (Bankr. D. Nev. Case Nos.
14-10357 and 14-10355) in Las Vegas on Jan. 21, 2014.  Martifer
Solar USA, which is based in Los Angeles, California, estimated
$10 million to $50 million in assets and liabilities.

Bankruptcy Judge August B. Landis oversees the case.  The Debtors
tapped Brett A. Axelrod, Esq., and Micaela Rustia Moore, Esq., at
Fox Rothschild LLP, in Las Vegas, as counsel, and Armory
Consulting Co. as restructuring and financial advisor.  The
Debtors tapped Foley Hoag LLP as special Massachusetts litigation
counsel with respect to a pending litigation relating to EPG
Solar, LLC; and Foley & Lardner LLP as special solar counsel.

Cathay Bank, a prepetition lender, is represented by Michael
Gerard Fletcher, Esq., and Reed S. Waddell, Esq., at Frandzel
Robins Bloom & Csato, L.C.; and Natalie M. Cox, Esq., and Randolph
L. Howard, Esq., at Kolesar & Leatham.

Martifer Solar Inc., the proposed DIP Lender, and ultimate parent
of the Debtors, is represented by Samuel A. Schwartz, Esq., and
Bryan A. Lindsey, Esq., at The Schwartz Law Firm Inc.

Tracy Hope Davis, the U.S. Trustee for Region 17, appointed
five creditors to serve on the Official Committee of Unsecured
Creditors for the Chapter 11 bankruptcy case of Martifer Solar
USA Inc.


MARTINSON FARMS: Case Summary & 8 Unsecured Creditors
-----------------------------------------------------
Debtor: Martinson Farms, LLC, Debtor
        1940 Cadle Road
        Rickreall, OR 97371

Case No.: 14-61217

Chapter 11 Petition Date: April 4, 2014

Court: United States Bankruptcy Court
       District of Oregon

Judge: Hon. Frank R Alley III

Debtor's Counsel: Julia I Manela, Esq.
                  THE SCOTT LAW GROUP
                  497 Oakway Rd #245
                  Eugene, OR 97401
                  Tel: (541) 868-8005
                  E-mail: ecf@scott-law-group.com

                   - and -

                  Loren S Scott, Esq.
                  THE SCOTT LAW GROUP
                  497 Oakway Rd #245
                  Eugene, OR 97401
                  Tel: (541) 868-8005
                  E-mail: ecf@scott-law-group.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ladd Martinson, member.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/orb14-61217.pdf


MICHAELS STORES: Board Okays 2014 Executive Bonus Plan
------------------------------------------------------
The board of directors of Michaels Stores, Inc., approved the
fiscal year 2014 bonus plan under which these named executive
officers of the Company participate:

Name                                     Position
--------------------         ---------------------------------
Carl S. Rubin                Chief Executive Officer

Charles M. Sonsteby          Chief Administrative Officer and
                              Chief Financial Officer

Thomas C. DeCaro             Executive Vice President -
                              Supply Chain

Philo T. Pappas              Executive Vice President -
                              Merchandising

A copy of the form of Bonus Plan for executive officers for fiscal
year 2014 is available for free at http://is.gd/if4eyS

                      About Michaels Stores

Headquartered in Irving, Texas, Michaels Stores, Inc., is the
largest arts and crafts specialty retailer in North America.  As
of March 9, 2009, the Company operated 1,105 "Michaels" retail
stores in the United States and Canada and 161 Aaron Brothers
Stores.

As of Nov. 2, 2013, the Company had $1.86 billion in total assets,
$4.03 billion in total liabilities and a $2.17 billion total
stockholders' deficit.

                           *     *     *

Michaels Stores carries a 'B2' corporate family rating from
Moody's Investors Service and 'B' corporate credit rating from
Standard & Poor's Ratings Services.


MOMENTIVE SPECIALTY: Incurs $634 Million Net Loss in 2013
---------------------------------------------------------
Momentive Specialty Chemicals Inc. filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K disclosing
a net loss of $634 million on $4.89 billion of net sales for the
year ended Dec. 31, 2013, as compared with net income of $346
million on $4.75 billion of net sales for the year ended Dec. 31,
2012.

For the three months ended Dec. 31, 2013, Momentive Specialty
incurred a net loss of $526 million on $1.19 billion of net sales
as compared with a net loss of $11 million on $1.08 billion of net
sales for the same period in 2012.

As of Dec. 31, 2013, the Company had $2.86 billion in total
assets, $4.94 billion in total liabilities and a $2.08 billion
total deficit.

"We are pleased to report the continued strong growth of our
oilfield and forests products businesses during the fourth
quarter," said Craig Morrison, chairman, president and CEO.
"While cyclicality in certain of our end markets and higher
pension costs impacted our overall Segment EBITDA results, we
remain encouraged by the long-term business fundamentals and our
success in expanding the depth and breadth of our specialty
portfolio."

"We are committed to both strategically investing in growth and
maintaining a healthy balance sheet," Morrison added.  "During the
last year we made significant progress in executing against this
multi-pronged growth strategy and have announced a number of
investments focused on our oilfield and forest products
businesses, including most recently the acquisition of a resin
coated proppants facility and construction of a new formaldehyde
facility.  Our significant liquidity of $773 million and long-
dated capital structure has helped facilitate these strategic
investments and will continue to allow us to be opportunistic in
growing our business going forward."

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

                        http://is.gd/PLflVN

                     About Momentive Specialty

Momentive Specialty Chemicals, Inc., headquartered in Columbus,
Ohio, is a leading producer of thermoset resins (epoxy,
formaldehyde and acrylic).  The company is also a supplier of
specialty resins for inks and specialty coatings sold to a diverse
customer base as well as a producer of commodities such as
formaldehyde, bisphenol A, epichlorohydrin, versatic acid and
related derivatives.

                           *     *     *

Momentive Specialty carries a 'B-' issuer credit rating from
Standard & Poor's Ratings Services.  It has 'B3' corporate family
and probability of default ratings from Moody's Investors Service.

As reported in the Oct. 27, 2010 edition of TCR, Moody's Investors
Service assigned a 'Caa1' rating to the guaranteed senior secured
second lien notes due 2020 of Momentive Specialty (formerly known
as Hexion Specialty Chemicals Inc.).  Proceeds from the notes were
allocated for the repayment of $533 million of guaranteed senior
secured second lien notes due 2014.  "With this refinancing Hexion
will have refinanced or extended the maturities on the vast
majority of the debt that was originally slated to mature prior to
2015.  There is less than $600 million of this debt remaining,
which should be much easier to for the company to refinance as its
credit metrics improve further," stated John Rogers, Senior Vice
President at Moody's.


MOUNTAIN PROVINCE: Gahcho Kue Project 17% Complete in February
--------------------------------------------------------------
Mountain Province Diamonds Inc. provided an update on progress at
the Gahcho Kue diamond project, a joint venture between De Beers
Canada (51 percent) and Mountain Province Diamonds (49 percent).

Project schedule

As at the end of February 2014 the overall project was 17 percent
complete and first production remains on schedule for Q3 2016.  In
a statement issued on March 21, 2014, and available on
www.debeersgroup.com, De Beers confirmed that there has been no
change in the project schedule and that "both partners are happy
with the progress to date".

Site preparation

A total of approximately 670 truckloads of equipment and supplies
have so far been delivered to Gahcho Kue on the 2014 ice road.  A
further approximately 100 truckloads are expected to be delivered
by the end of March 2014.  There are currently approximately 120
people on site and this number is expected to increase through the
balance of the year.  At peak construction there will be
approximately 700 people employed at Gahcho Kue.  Work to date has
been completed without any lost-time injuries.

Construction of the main airstrip has commenced and prefabricated
units of the main camp have been delivered to Gahcho Kue. The main
camp and airstrip are expected to be ready for use by mid-2014.
Delivery and installation of eight 500-cubic meter fuel tanks has
been completed and fuel deliveries are currently underway.
Construction of two 18,000 cubic meter fuel tanks is also
underway.  Sufficient fuel will be delivered to site to support
the construction operation for the next twelve months.
Shareholders can view photographs of site activities at
www.mountainprovince.com.

Feasibility study update

Preparation of the feasibility study update is continuing and the
results are expected to be announced by the end of the month.  The
updated feasibility study will include an updated Reserve
statement, updated capital and operating cost estimates, and
updated project economics.  The Company will provide further
details on financing plans upon completion of the updated
feasibility study.

Permitting

Processing of the Gahcho Kue full Land Use Permit and Class A
Water License remains on schedule.  These new permits are expected
to be approved during H2 of 2014.

Tuzo deep drilling

Drilling of the first of three vertical holes to depths of 750
meters commenced in February 2014.  On reaching a depth of 395
meters the drill rods became stuck in the first hole.  While
attempts to re-drill the first hole from a wedge at approximately
300 meters are continuing, a second drill rig has been brought to
site and has commenced drilling. Further updates on progress will
be provided.

                   About Mountain Province Diamonds

Headquartered in Toronto, Canada, Mountain Province Diamonds Inc.
(TSX: MPV, NYSE AMEX: MDM) -- http://www.mountainprovince.com/--
is a Canadian resource company in the process of permitting and
developing a diamond deposit known as the "Gahcho Kue Project"
located in the Northwest Territories of Canada.  The Company's
primary asset is its 49 percent interest in the Gahcho Kue
Project.

Mountain Province disclosed a net loss of C$3.33 million for the
year ended Dec. 31, 2012, a net loss of C$11.53 million in 2011,
and a net loss of C$14.53 million in 2010.

The Company's balance sheet at Sept. 30, 2013, showed C$81.07
million in total assets, C$12.42 million in total liabilities and
C$68.64 million in total shareholders' equity.


MUNICIPAL MORTGAGE: Swings to $99.8 Million Net Income in 2013
--------------------------------------------------------------
Municipal Mortgage & Equity, LLC, filed with the U.S. Securities
and Exchange Commission its annual report on Form 10-K disclosing
net income of $99.84 million on $37.92 million of total interest
income for the year ended Dec. 31, 2013, as compared with a net
loss of $38.66 million on $65.79 million of total interest income
during the prior year.

As of Dec. 31, 2013, the Company had $1.01 billion in total
assets, $476.49 million in total liabilities and $538.85 million
in total equity.

KPMG LLP, in Baltimore, Maryland, did not issue a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  In the auditors' report accompanying
the consolidated financial statements for the year ended Dec. 31,
2011, KPMG LLP, 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.

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

                        http://is.gd/vGEvec

                      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.

                            *    *     *

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


NATCHEZ REGIONAL: Seeks to Reject Agreement with Valley Services
----------------------------------------------------------------
Natchez Regional Medical Center seeks authority from the U.S.
Bankruptcy Court for the Southern District of Mississippi, Western
Division, to reject its food service agreement with Valley
Services, Inc., stating that it would agree to negotiate a month
to month food service agreement, for postpetition services.

Valley Services has asked the Bankruptcy Court to compel the
Debtor to cure its default under the agreement and asserted that
assumption of the agreement is necessary for the operation of the
Hospital and the Debtor's successful reorganization.

Valley Services said that as of March 26, 2014, it is owned
$540,087 by the Debtor.

Richard Montague, Esq. -- richard.montague@phelps.com -- Laura M.
Glaze, Esq. -- laura.glaze@phelps.com -- and James W. O'Mara, Esq.
-- omaraj@phelps.com -- at Phelps Dunbar LLP, in Jackson,
Mississippi, represent Valley Services.

                        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.


NATCHEZ REGIONAL: Seeks to Reject M.D. Properties Lease
-------------------------------------------------------
Natchez Regional Medical Center seeks authority from the U.S.
Bankruptcy Court for the Southern District of Mississippi, Western
Division, to reject its lease agreement with M.D. Properties, LLC,
for the rental of office space in the Debtor's Pavilion in
Natchez, Mississippi, to provide medical services and related
incidental services thereto for physicians and other healthcare
professionals.

As of March 19, 2014, there was an arrearage of rentals due in the
amount of $272,715.  The terms of the lease is scheduled to expire
Sept. 30, 2018.

The Debtor tells the Court that it is unable to cure the arrearage
on the lease and the lease is not necessary for its successful
reorganization.  The Debtor says it would consider a month to
month lease with M.D. Properties.

                        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.


NAVISTAR INTERNATIONAL: Offering $370 Million of Conv. Notes
------------------------------------------------------------
Navistar International Corporation announced the pricing of its
private offering of $370 million of 4.75 percent senior
subordinated convertible notes due 2019.  Closing of the offering
is expected to occur on March 24, 2014, subject to customary
closing conditions.  In addition, the Company has granted the
initial purchasers an over-allotment option to purchase up to an
additional $55.5 million of convertible notes.

The convertible notes will pay interest semiannually at a rate of
4.75 percent per annum and will be convertible, under certain
circumstances, into cash, shares of Navistar common stock, or a
combination of cash and shares of Navistar common stock, at
Navistar's election, at an initial conversion rate of 18.4946
shares of Navistar common stock per $1,000 principal amount of
senior subordinated convertible notes, which is equivalent to an
initial conversion price of approximately $54.07 per share of
common stock, subject to adjustment in certain circumstances.

The convertible notes and the shares of the Company's common stock
issuable upon conversion of the notes, if any, have not been, and
will not be, registered under the United States Securities Act of
1933, as amended, or the securities laws of any other jurisdiction
and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements.

The company plans to offer the convertible notes only to qualified
institutional buyers pursuant to Rule 144A under the Securities
Act.

Additional information is available for free at:

                        http://is.gd/VqHrYE

                    About Navistar International

Navistar International Corporation (NYSE: NAV) --
http://www.Navistar.com/-- is a holding company whose
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The Company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

Navistar International reported a net loss attributable to the
Company of $898 million for the year ended Oct. 31, 2013, a net
loss attributable to the Company of $3.01 billion for the year
ended Oct. 31, 2012.

The Company's balance sheet at Oct. 31, 2013, showed $8.31 billion
in total assets, $11.91 billion in total liabilities and a $3.60
billion total stockholders' deficit.

                          *     *     *

In the Oct. 9, 2013, edition of the TCR, Moody's Investors Service
affirmed the ratings of Navistar International Corporation,
including the B3 Corporate Family Rating (CFR).  The ratings
reflect Moody's expectation that Navistar's successful
incorporation of Cummins engines throughout its product line up
will enable the company to regain lost market share, and that
progress in addressing component failures in 2010 vintage-engines
will significantly reduce warranty expenses.

As reported by the TCR on Oct. 9, 2013, Standard & Poor's Ratings
Services lowered its long-term corporate credit rating on
Illinois-based truckmaker Navistar International Corp. (NAV) to
'CCC+' from 'B-'.  "The rating downgrades reflect our increased
skepticism regarding NAV's prospects for achieving the market
shares it needs for a successful business turnaround," said credit
analyst Sol Samson.

As reported by the TCR on Jan. 24, 2013, Fitch Ratings has
affirmed the Issuer Default Ratings (IDR) for Navistar
International Corporation and Navistar Financial Corporation at
'CCC' and removed the Negative Outlook on the ratings.  The
removal reflects Fitch's view that immediate concerns about
liquidity have lessened, although liquidity remains an important
rating consideration as NAV implements its selective catalytic
reduction (SCR) engine strategy. Other rating concerns are already
incorporated in the 'CCC' rating.


NEWLEAD HOLDINGS: Issues 720,000 Add'l Settlement Shares to MGP
---------------------------------------------------------------
NewLead Holdings Ltd., on March 24, 2014, issued and delivered to
MG Partners Limited 720,000 additional settlement shares pursuant
to the terms of a settlement agreement.  As of March 24, 2014, the
Company had approximately 8,638,058 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., a corporation organized and existing under
the laws of Bermuda, Hanover Holdings I, LLC, a New York limited
liability company, and MG Partners Limited, a company with limited
liability organized and existing under the laws of Gibraltar, in
the matter entitled Hanover Holdings I, LLC v. NewLead Holdings
Ltd., Case No. 160776/2013.  Hanover commenced the Action against
the Company on Nov. 19, 2013, to recover an aggregate of
$44,822,523 of past-due indebtedness of the Company, which Hanover
had purchased from certain creditors of the Company pursuant to
the terms of separate purchase agreements between Hanover and each
of those creditors, plus fees and costs.  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, 175,000 shares of the Company's common
stock, $0.01 par value.

Between Jan. 3, 2014, and March 7, 2014, the Company issued and
delivered to MGP an aggregate of 3,310,000 additional settlement
shares pursuant to the terms of the Settlement Agreement approved
by the Order.

A full-text copy of the Form 6-K is available for free at:

                        http://is.gd/UfQtSg

                      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.


NORTHWOOD PROPERTIES: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Northwood Properties, Inc.
        8052 Navarre Pkwy
        Navarre, FL 32566

Case No.: 14-30367

Chapter 11 Petition Date: April 4, 2014

Court: United States Bankruptcy Court
       Northern District of Florida (Pensacola)

Judge: Hon. William S. Shulman

Debtor's Counsel: Steven Ford, Esq.
                  WILSON, HARRELL, FARRINGTON & FORD
                  307 S. Palafox Street
                  Pensacola, FL 32502
                  Tel: 850-438-1111
                  Fax: 850-432-8500
                  E-mail: jsf@whsf-law.com

Total Assets: $1.54 million

Total Liabilities: $510,589

The petition was signed by William A. Pullum, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flnb14-30367.pdf


NORTH ADAMS REGIONAL: April 8 Meeting Set to Discuss Crisis
------------------------------------------------------------
The Massachusetts Nurses Association/National Nurses United
disclosed that a delegation of nurses from North Adams Regional
Hospital were set to attend a "status conference" on April 7 in
the U.S. District Court in Springfield to discuss the recent
filing by the owners of the hospital, which was illegally closed
two weeks ago.  The nurses, along with the community of North
Adams, are calling for the immediate restoration of NARH as a full
service hospital to serve the more than 38,000 residents who are
currently without any health care services.

Other Events This Week: Community Meeting on Tuesday, April 8 at
5:00 p.m. at the American Legion Hall, 91 American Legion Drive in
North Adams, where residents, workers and community leaders will
provide updates on the crisis and plan next steps in the campaign
to save the hospital.

Founded in 1903, the Massachusetts Nurses Association/National
Nurses United is the largest professional health care organization
and the largest union of registered nurses in the Commonwealth of
Massachusetts.  Its 23,000 members advance the nursing profession
by fostering high standards of nursing practice, promoting the
economic and general welfare of nurses in the workplace,
projecting a positive and realistic view of nursing, and by
lobbying the Legislature and regulatory agencies on health care
issues affecting nurses and the public.  The MNA is a founding
member of National Nurses United, the largest national nurses
union in the United States with more than 170,000 members from
coast to coast.

                     About Northern Berkshire

Northern Berkshire Healthcare, Inc., is a non-profit healthcare
corporation in northern Berkshire County, Massachusetts.  Together
with its affiliates, Northern Berkshire Healthcare operates the
North Adams Regional Hospital and a visiting nurse association and
hospice in North Adams, Massachusetts.  North Adams Regional
Hospital is an 85 staffed bed community hospital located in North
Adams, Mass. (110 miles west of Boston).

Northern Berkshire Healthcare, Inc., North Adams Regional
Hospital, Inc., Visiting Nurse Association & Hospice of Northern
Berkshire, Inc., Northern Berkshire Healthcare Physicians Group,
Inc., and Northern Berkshire Realty, Inc., filed for Chapter 11
bankruptcy (Bankr. D. Mass. Case No. 11-31114) on June 13, 2011,
to address their overleveraged balance sheet and effect a
reorganization of their operations.  On the same day, Northern
Berkshire Community Services, Inc., filed a petition for Chapter 7
relief also in the District of Massachusetts bankruptcy court.

Judge Henry J. Boroff presides over the Debtors' cases.  Steven T.
Hoort, Esq., James A. Wright, III, Esq., Jonathan B. Lackow, Esq.,
and Matthew F. Burrows, Esq., at Ropes & Gray LLP, in Boston,
Mass., serve as the Debtors' bankruptcy counsel.  The Debtors'
Financial Advisors are Carl Marks Advisory Group LLC.  GCG Inc.
serves as claims and noticing agent.

Northern Berkshire disclosed $22,957,933 in assets and $53,379,652
in liabilities as of the Chapter 11 filing.  The petition was
signed by William F. Frado, Jr., president.

William K. Harrington, the U.S. Trustee for Region 1, appointed
five members to the official unsecured creditors' committee in the
Debtors' cases.  The Committee tapped Duane Morris LLP as its
counsel.

The Debtors obtained confirmation of their Chapter 11 plan on
April 10, 2012.  Northern Berkshire Healthcare said on June 5,
2012, it has emerged from Chapter 11 reorganization.


NORTH LAS VEGAS: May Become Insolvent, Fitch Says
-------------------------------------------------
North Las Vegas, NV's efforts to remain solvent were dealt another
blow on March 21 when the state Supreme Court rejected the city's
appeal of a $4 million judgment related to land the city had
planned to condemn and redevelop.  Fitch's 'B' rating on the
city's general obligations, with a Negative Rating Outlook,
indicates that material default risk is present.

In January, district court granted summary judgment to labor
unions in their suit challenging the city's ability to freeze
contracted salary increases through a declaration of emergency.
The city is trying to negotiate that settlement down from $25
million while dealing with an estimated $18 million (about 15% of
spending) general fund budget gap for fiscal 2015.

As state law bars Nevada municipalities from filing for
bankruptcy, the state could become the receiver if the city is
unable to close its budget gap and successfully negotiate the
settlement for back pay.  The Nevada Tax Commission could also
eventually ask voters to approve disincorporation.  Fitch believes
bondholder repayment could be at risk in either situation.

To date, the state has provided some oversight through its
Committee on Local Government Finance but has not indicated any
interest in state receivership.  Current statute requires that
taxes for bond repayment continue to be levied under
disincorporation.  However, under state receivership, the statute
directs the state to formulate a debt liquidation program.

The city's fiscal troubles stem from steep declines in revenues
due to the severity of the recession coupled with multiyear
contracted pay raises.  North Las Vegas has seen little benefit
from the economic recovery that is boosting revenues elsewhere and
has virtually no additional expenditure flexibility.  A modest $9
million in general fund reserves at the end of fiscal 2013 has
been whittled down from $45 million in fiscal 2008.  Likewise the
city's water wastewater fund has drawn on its reserves largely to
support the general fund, dropping to $50 million in unrestricted
cash in fiscal 2013 from $178 million in fiscal 2009.

North Las Vegas has about $436 million in LTGOs outstanding
(including $292 million secured by the water and wastewater
revenues) with about $8 million in fiscal 2015 debt service costs
paid from the general fund.  The utilities pay about $23 million
in annual debt service.

Nevada local governments are required to file a tentative balanced
budget with the state by April 15.  Management is planning to
present its budget to City Council on April 10.  However, no clear
plan to address the city's deficit has been identified.  Fitch
will continue to monitor these unfolding events.


NRG ENERGY: Moody's Assigns B1 Rating on $1BB Sr. Unsec. Notes
--------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to NRG Energy
Inc.'s new $1 billion senior unsecured notes due 2024. Proceeds
will be used to repurchase a like amount of senior unsecured notes
due 2019. The outlook is stable.

Ratings Rationale

NRG's Ba3 corporate family rating primarily reflects its position
as the largest independent power producer in the U.S. in terms of
generating capacity. The rating also incorporates the company's
significant debt leverage and the current weak market conditions
for U.S. merchant companies. These market conditions have been
heavily driven by low natural gas prices, for which Moody's do not
foresee a meaningful recovery in the next few years due to the
glut of natural gas reserves created by continued shale gas
development. Widespread surplus generating capacity has been an
important contributing factor for the current market conditions as
well. Fortunately for NRG, the company has a large presence in
Texas -- the only region in the U.S. with consistent growing load
requirements and tight supplies. As the incumbent, NRG's retail
operation in Texas also provides sizeable, stable cash flow. NRG's
corporate family rating of Ba3 is rated two notches higher than
the corporate family rating for its GenOn subsidiaries, reflecting
NRG's limited support to GenOn and its subsidiaries.

Moody's note that NRG recently closed the acquisition of Edison
Mission Energy's generating assets wherein a significant share of
the acquired assets are expected to be sold to NRG's affiliate
subsidiary, NRG Yield over time. As NRG Yield grows and becomes a
more significant share of NRG's overall business, there is the
potential that Moody's will compress the notching differential
between NRG's senior secured rating and its corporate family
rating. Currently NRG's senior secured debt is rated Baa3, three
notches higher than the corporate family rating of Ba3. Moody's
take the view that a yield-oriented structure, such as MLPs,
Yieldcos or REITs, has a potential leveraging effect because it
typically results in a reduced level of cash flow available to
service debt elsewhere in the coporate family due to the
substantial payout of some of the company's most reliable cash
flows to a new set of shareholders. It is, however, possible that
Moody's will continue to leave the three-notch differential in
place if there is a sufficient offsetting effect on leverage, such
as using the proceeds arising from the transfer of assets to NRG
Yield to reduce debt or if the quality of the cash flow related to
the new NRG Yield asset is sufficient enough to offset the
incremental leverage.

What Could Change the Rating - UP

A fundamental improvement in the merchant power market or a
moderation in NRG's current debt leverage to above 10% CFO-pre-
working-capital/debt on a consolidated and sustainable basis could
result in upward rating pressure.

What Could Change the Rating - DOWN

Moody's may take a negative rating action should cash flow
leverage deteriorate significantly on a sustained basis to 3% CFO-
pre-working-capital to debt on a consolidated basis or 7% CFO-pre-
working-capital to debt without the effects of GenOn.

NRG, headquartered in Princeton, NJ, is a leading independent
power producer with ownership interests in 53 GW of generating
capacity.

Ratings Affirmed

Issuer: NRG Energy, Inc.

Corporate Family Rating: Ba3

Senior Secured Rating: Baa3, LGD2, 12%

Senior Unsecured Rating: B1, LGD4, 67%

Probability of Default Rating: Ba3-PD

Speculative grade liquidity rating: SGL-2

Rating Assigned:

$1,000 million Senior Notes due 2024, Assigned B1 LGD4, 67%

The principal methodology used in this rating action was
Unregulated Utilities and Power Companies published in August
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.


OVERSEAS SHIPHOLDING: Taps Allen Miller as Litigation Counsel
-------------------------------------------------------------
Overseas Shipholding Group, Inc. and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Allen Miller LLP as special litigation counsel,
nunc pro tunc to Mar. 3, 2014 retention date.

The Debtors hire Allen Miller in connection with, inter alia, the
OSG Claims and the Debtors' defenses to claims against them by
Proskauer Rose.

The Debtors require Allen Miller to:

   (a) act as local counsel in the Litigation Matters;

   (b) represent the Debtors before the courts of New York state
       in connection with the Litigation Matters; and

   (c) perform any other services related to the Litigation
       Matters, as requested by the Debtors.

Allen Miller will be paid at these hourly rates:

       Michael I. Allen                       $630
       Attorneys and Legal Assistants      $150-$550

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

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

The Court for the District of Delaware will hold a hearing on the
application on April 11, 2014, at 9:30 a.m.  Objections were due
April 4, 2014.

Allen Miller can be reached at:

       Michael I. Allen, Esq.
       ALLEN MILLER LLP
       900 Third Avenue, 17th Floor
       New York, NY 10022
       Tel: (212) 515-8080
       Fax: (212) 515-8081

                   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.


OXFORD BIG BOY: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Oxford Big Boy Incorporated
        955 S Lapeer Road
        Oxford, MI 48371

Case No.: 14-45849

Chapter 11 Petition Date: April 4, 2014

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

Judge: Hon. Marci B McIvor

Debtor's Counsel: Michael P. DiLaura, Esq.
                  MIKE DILAURA & ASSOCIATES, PC
                  105 Cass Ave.
                  Mt. Clemens, MI 48043
                  Tel: (586) 468-5600
                  Fax: (586) 465-9113
                  E-mail: miked@mikedlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Samir Saleh, president.

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


P.T. TRANSPORT: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: P.T. Transport, Inc.
        19 Old Dock Road
        Yaphank, NY 11980

Case No.: 14-71453

Chapter 11 Petition Date: April 4, 2014

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

Judge: Hon. Robert E. Grossman

Debtor's Counsel: Gary M Kushner, Esq.
                  GOETZ FITZPATRICK LLP
                  One Penn Plaza, 44th Floor
                  New York, NY 10119
                  Tel: 212-695-8100 Ext. 338
                  Fax: 212-629-4013
                  E-mail: gkushner@goetzfitz.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $0 to $50,000

The petition was signed by Yolanda Hoey, president pro tem.

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


PARK AVENUE BAR: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Park Avenue Bar & Grill, LLC
        3417 Park Ave
        Union City, NJ 07087

Case No.: 14-16736

Chapter 11 Petition Date: April 4, 2014

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Hon. Donald H. Steckroth

Debtor's Counsel: Bruce H Levitt, Esq.
                  LEVITT & SLAFKES, P.C.
                  76 S. Orange Ave., Suite 305
                  South Orange, NJ 07079
                  Tel: 973-313-1200
                  E-mail: blevitt@levittslafkes.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Harry Hodkinson, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb14-16736.pdf


PERSONAL COMMUNICATIONS: Gets Court Approval to Reject REP Leases
-----------------------------------------------------------------
Personal Communications Devices Holdings, LLC received court
approval to reject its leases for two facilities in New York.

The company executed the leases with REP C, LLC and REP 80 Arkay
Drive, LLC in 2012 to use a warehouse facility and an office
facility, which are both located in Hauppauge, New York.

Quality One Wireless LLC, the buyer of the company's major assets,
previously used the facilities in connection with the sale, which
was approved by U.S. Bankruptcy Judge Alan Trust in October last
year.  The tech firm vacated the facilities last month.

Personal Communications said the leases are no longer of use to
the company and that Quality One is not interested to take over
the leases.

                              About PCD

Personal Communications Devices LLC and an affiliate, Personal
Communications Devices Holdings, LLC, filed for Chapter 11
bankruptcy (Bankr. E.D.N.Y. Case No. 13-74303) on Aug. 19, 2013,
in Central Islip, N.Y.  The Debtor disclosed $247,952,684 in
assets and $284,985,134 in liabilities as of the Chapter 11
filing.

PCD -- http://www.pcdphones.com-- was in the business of
providing carriers and manufacturers an array of product life
cycle management services that includes planning and development;
inventory; technical testing; quality control; forward and reverse
logistics; sell-in and sell-thru, marketing & warranty support.

PCD sold its assets to Quality One Wireless LLC for $105 million
in October 2013.  The bankruptcy auction was cancelled as no
competing offers were submitted.

Bankruptcy Judge Alan S. Trust oversees the case.  Attorneys at
Goodwin Procter, LLP and Togut, Segal & Segal, LLP serve as
counsel to the Debtors.  Epiq Bankruptcy Solutions, LLC, is the
claims and notice agent.  BG Strategic Advisors, LLC, is the
financial advisor.  Richter Consulting, Inc., is the investment
banker.

Q1W is advised by Raymond James and Associates, Inc. and Munsch
Hardt Kopf & Harr, P.C.

A three-member official committee of unsecured creditors was
appointed in the Chapter 11 case.  The Committee retained FTI
Consulting, Inc., as financial advisor, and Perkins Coie LLP as
counsel.


PERSONAL COMMUNICATIONS: Gets Court Approval to Settle CIT Claims
-----------------------------------------------------------------
Personal Communications Devices LLC received court approval for a
deal that would resolve the claims of CIT Finance LLC against the
company.

The claims stemmed from three leases executed by the companies,
which allowed Personal Communications to use office and copier
equipment.  The claims were assigned as Claim Nos. 47, 48 and 49.

Under the settlement, the amount asserted in Claim No. 48 will be
reduced to $9,593 from $11,640.  The claim will be allowed as
general unsecured.

Meanwhile, the two other claims will be reclassified as general
unsecured.  Claim No. 47 and Claim No. 49 will be reduced to
$24,049 and $192,550, respectively.

The settlement also calls for the rejection of the three leases,
according to court papers.  A copy of the agreement is available
for free at http://is.gd/ZEszw6

CIT Finance is represented by:

   Teresa Sadutto-Carley, Esq.
   Platzer, Swergold, Levin,
   Goldberg, Katz & Jaslow, LLP
   1065 Avenue of the Americas, 18th Floor
   New York, New York 10018
   Tel: (212) 593-3000 ext. 261
   Fax: (212) 593-0353
   E-mail: tsadutto@platzerlaw.com

                              About PCD

Personal Communications Devices LLC and an affiliate, Personal
Communications Devices Holdings, LLC, filed for Chapter 11
bankruptcy (Bankr. E.D.N.Y. Case No. 13-74303) on Aug. 19, 2013,
in Central Islip, N.Y.  The Debtor disclosed $247,952,684 in
assets and $284,985,134 in liabilities as of the Chapter 11
filing.

PCD -- http://www.pcdphones.com-- was in the business of
providing carriers and manufacturers an array of product life
cycle management services that includes planning and development;
inventory; technical testing; quality control; forward and reverse
logistics; sell-in and sell-thru, marketing & warranty support.

PCD sold its assets to Quality One Wireless LLC for $105 million
in October 2013.  The bankruptcy auction was cancelled as no
competing offers were submitted.

Bankruptcy Judge Alan S. Trust oversees the case.  Attorneys at
Goodwin Procter, LLP and Togut, Segal & Segal, LLP serve as
counsel to the Debtors.  Epiq Bankruptcy Solutions, LLC, is the
claims and notice agent.  BG Strategic Advisors, LLC, is the
financial advisor.  Richter Consulting, Inc., is the investment
banker.

Q1W is advised by Raymond James and Associates, Inc. and Munsch
Hardt Kopf & Harr, P.C.

A three-member official committee of unsecured creditors was
appointed in the Chapter 11 case.  The Committee retained FTI
Consulting, Inc., as financial advisor, and Perkins Coie LLP as
counsel.


PERSONAL COMMUNICATIONS: Goodwin Seeks Release of Holdback Amount
-----------------------------------------------------------------
Goodwin Procter LLP asked Judge Alan Trust to permit Personal
Communications Devices, LLC to release the remaining 20% of its
legal fees.

In a court filing, Goodwin Procter asked the bankruptcy judge to
authorize the company to pay the law firm $200,422, which was held
back in connection with its monthly fee statements submitted for
the period Aug. 19 to Dec. 31, 2013.

The amount was allowed by the bankruptcy judge on an interim basis
on March 10 but not authorized to be paid to the firm at that
time, according to Emanuel Grillo, Esq., at Goodwin Procter.

Judge Trust will hold a hearing on April 9 to consider approval of
the request.

Mr. Grillo can be reached at:

   Emanuel C. Grillo, Esq.
   Goodwin Procter LLP
   The New York Times Building
   620 Eighth Avenue
   New York, New York 10018-1405
   Tel: (212) 813-8800
   Fax: (212) 355-3333
   E-mail: egrillo@goodwinprocter.com

                              About PCD

Personal Communications Devices LLC and an affiliate, Personal
Communications Devices Holdings, LLC, filed for Chapter 11
bankruptcy (Bankr. E.D.N.Y. Case No. 13-74303) on Aug. 19, 2013,
in Central Islip, N.Y.  The Debtor disclosed $247,952,684 in
assets and $284,985,134 in liabilities as of the Chapter 11
filing.

PCD -- http://www.pcdphones.com-- was in the business of
providing carriers and manufacturers an array of product life
cycle management services that includes planning and development;
inventory; technical testing; quality control; forward and reverse
logistics; sell-in and sell-thru, marketing & warranty support.

PCD sold its assets to Quality One Wireless LLC for $105 million
in October 2013.  The bankruptcy auction was cancelled as no
competing offers were submitted.

Bankruptcy Judge Alan S. Trust oversees the case.  Attorneys at
Goodwin Procter, LLP and Togut, Segal & Segal, LLP serve as
counsel to the Debtors.  Epiq Bankruptcy Solutions, LLC, is the
claims and notice agent.  BG Strategic Advisors, LLC, is the
financial advisor.  Richter Consulting, Inc., is the investment
banker.

Q1W is advised by Raymond James and Associates, Inc. and Munsch
Hardt Kopf & Harr, P.C.

A three-member official committee of unsecured creditors was
appointed in the Chapter 11 case.  The Committee retained FTI
Consulting, Inc., as financial advisor, and Perkins Coie LLP as
counsel.


PERSONAL COMMUNICATIONS: Signs Agreement With Brooks, et al
-----------------------------------------------------------
Personal Communications Devices, LLC received court approval for a
deal it made with the official committee of unsecured creditors
and the representative of Herbert Mark Brooks' estate.

Under the deal, Jean Brooks agrees that she has no objection to
the confirmation of Personal Communications' proposed plan of
liquidation.

The claimant also agrees that she "shall not and shall be deemed
to have not" submitted any ballot for her claim, accepting or
rejecting the plan.  The agreement can be accessed for free at
http://is.gd/FGsAii

Personal Communications also signed a similar agreement with
another claimant Philip Christopher.  Mr. Christopher asserts six
claims against Personal Communications and its parent company.

As reported by TCR on Feb. 27, Judge Alan Trust of the U.S.
Bankruptcy Court for the Eastern District of New York approved on
Feb. 24 the disclosure statement explaining the plan and scheduled
an April 9 confirmation hearing.

The plan provides for the creation of a liquidating trust that
will administer, liquidate and distribute all remaining property
of Personal Communications and its parent company, including
certain causes of action.

Under the plan, unsecured creditors will receive pro rata share of
proceeds remaining after payment of allowed administrative,
allowed priority and allowed miscellaneous secured claims.  The
disclosure statement contains blank spaces with respect to the
estimated recovery for unsecured creditors.

Personal Communications sold its business in mid-October to
competitor Quality One Wireless LLC for $105 million.  The sale
fully paid off $105 million in secured debt either in cash or from
the buyer giving second-lien creditors a note for the debt.

Ms. Brooks is represented by:

   Kristie M. Hightower, Esq.
   Lundy Lundy Soileau & South, LLP
   420 Liberty Park Court, Suite C
   Flowood, MS 39232
   Phone: 601-362-0001
   Fax: (601) 362-0661

Mr. Christopher is represented by:

   Gerard S. Catalanello, Esq.
   Duane Morris LLP
   1540 Broadway
   New York, NY 10036-4086
   Tel: (212) 692-1000
   Fax: (112) 692-1020
   E-mail: gcatalanello@duanemorris.com

The creditors' committee is represented by:

   Gary F. Eisenberg, Esq.
   Schuyler Carroll, Esq.
   Tina N. Moss, Esq.
   Perkins Coie LLP
   30 Rockefeller Plaza, 22nd Floor
   New York, New York 10112
   Tel: (212) 262-6900
   Fax: (212) 977-1636
   E-mail: GEisenberg@perkinscoie.com
          SCarroll@perkinscoie.com
          TMoss@perkinscoie.com

                              About PCD

Personal Communications Devices LLC and an affiliate, Personal
Communications Devices Holdings, LLC, filed for Chapter 11
bankruptcy (Bankr. E.D.N.Y. Case No. 13-74303) on Aug. 19, 2013,
in Central Islip, N.Y.  The Debtor disclosed $247,952,684 in
assets and $284,985,134 in liabilities as of the Chapter 11
filing.

PCD -- http://www.pcdphones.com-- was in the business of
providing carriers and manufacturers an array of product life
cycle management services that includes planning and development;
inventory; technical testing; quality control; forward and reverse
logistics; sell-in and sell-thru, marketing & warranty support.

PCD sold its assets to Quality One Wireless LLC for $105 million
in October 2013.  The bankruptcy auction was cancelled as no
competing offers were submitted.

Bankruptcy Judge Alan S. Trust oversees the case.  Attorneys at
Goodwin Procter, LLP and Togut, Segal & Segal, LLP serve as
counsel to the Debtors.  Epiq Bankruptcy Solutions, LLC, is the
claims and notice agent.  BG Strategic Advisors, LLC, is the
financial advisor.  Richter Consulting, Inc., is the investment
banker.

Q1W is advised by Raymond James and Associates, Inc. and Munsch
Hardt Kopf & Harr, P.C.

A three-member official committee of unsecured creditors was
appointed in the Chapter 11 case.  The Committee retained FTI
Consulting, Inc., as financial advisor, and Perkins Coie LLP as
counsel.


PHOENIX LLC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Phoenix, LLC
        1973 Floyd Springs Rd.
        Armuchee, GA 30105-2507

Case No.: 14-40816

Chapter 11 Petition Date: April 4, 2014

Court: United States Bankruptcy Court
       Northern District of Georgia (Rome)

Judge: Hon. Paul W. Bonapfel

Debtor's Counsel: David R. Trippe
                  DAVID R TRIPPE LLC
                  P O Box 193
                  Sautee Nacoochee, GA 30571
                  Tel: 706-348-7523
                  E-mail: drtatlaw2004@yahoo.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Horace R. Hamilton, manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ganb14-40816.pdf


PROSPECT PARK: Wants to Hire Genovese as Bankruptcy Counsel
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing on April 15, 2014, at 3:00 p.m., to consider
Prospect Park Networks LLC's request to employ Genovese Joblove &
Battista, P.A. as counsel.  Objections, if any, are due April 8,
at 4:00 p.m.

GJB personnel who will be responsible to handle the case and their
hourly rates are:

         Professional                          Rate
         ------------                          ----
         John H. Genovese                      $650
         Heather L. Harmon                     $440
         Michael L. Schuster                   $350
         Elizabeth Kelly, paralegal            $195

Other attorneys and paralegals will render services to the Debtor
as needed.  GJB's current hourly rates are:

         Partners                              $375 - $650
         Associates                            $240 - $375
         Legal Assistants and Paralegals       $125 - $195

According to Ms. Harmon, GJB on Feb. 18, 2014, received $20,000
from the Debtor into its attorney trust account.  On March 4, GJB
transferred the amount of $20,000 from its trust account to its
operating account in partial satisfaction of its then-outstanding
fees and costs incurred in its representation of the Debtor.

On March 7, GJB received $120,000.  On March 10, GJB transferred
the amount of$15,000 from its trust account to its operating
account in partial satisfaction of its then-outstanding fees and
costs incurred in its representation of the Debtor.  The remaining
balance of $18,612 in fees and costs owed to GJB for prepetition
work has been written-off, adjusted to zero, and waived in all
respects.

Also on March 10, GJB transferred the amount of $15,000 from its
trust account to the trust account of Cousins Chipman & Brown,
LLP, as its retainer for services to be rendered as proposed local
counsel to the Debtor.

Accordingly, as of the filing of this Chapter 11 case, GJB held
$90,000 in its trust account, which it proposes to use as a
general retainer for fees and costs to be incurred in its
representation of the Debtor through the course of the Chapter 11
case, subject in all respects to approval of the Court.

Ms. Harmon assures the Court that GJB is a "disinterested person"
as that term is defined in Section 101(14) of the Bankruptcy Code.

                   About Prospect Park Networks

Prospect Park Networks, LLC, a Los Angeles, Calif.-based talent
and management company, filed for Chapter 11 bankruptcy (Bankr. D.
Del. Case No. 14-10520) in Wilmington, on March 10, 2014,
estimating $50 million to $100 million in assets, and $10 million
to $50 million in debts.  The petition was signed by Jeffrey
Kwatinetz, president.

William E. Chipman, Jr., Esq., and Mark D. Olivere, Esq., at
Cousins Chipman & Brown LLP, in Wilmington, Delaware; and John H.
Genovese, Esq., Michael Schuster, Esq., and Heather L. Harmon,
Esq., at Genovese Joblove & Battista, P.A. serve as the Debtor's
bankruptcy counsel.

The Debtors' Chapter 11 plan and disclosure statement are due
May 29, 2014.

The U.S. Trustee has not yet appointed a creditors' committee in
the case.


PROSPECT PARK: Taps Cousins Chipman as Delaware Counsel
-------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing on Apri1 15, 2014 at 3:00p.m., to consider
Prospect Park Networks, LLC's request to employ Cousins Chipman &
Brown, LLP as Delaware counsel to the Debtor nunc pro tunc to
March 10, 2014.  Objections, if any, are due April 8, at 4:00 p.m.

CCB will, among other things:

   a. assist with any disposition of the Debtor's assets, by
      sale or otherwise;

   b. negotiate and take all necessary or appropriate actions
      in connection with a plan or plans of reorganization and
      all related documents thereunder and transactions
      contemplated therein; and

   c. provide legal advice regarding bankruptcy law, corporate
      law, corporate governance, transactional, litigation and
      other issues to the Debtor in connection with the Debtor's
      ongoing business operations.

The hourly rates of CCB's personnel are:

         Professional                          Rate
         ------------                          ----
         William E. Chipman, Jr.               $595
         Mark D. Olivere                       $450
         Michelle M. Dero                      $225

Other attorneys and paralegals will render services to the Debtor
as needed.  CCB's hourly rates for these personnel are:

         Partners                           $450 - $645
         Associates and Counsel             $250 - $450
         Legal Assistants and Paralegals    $180 - $225

The Debtor relates that on March 10, 2014, CCB received an
advanced fee retainer of $15,000.

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

                   About Prospect Park Networks

Prospect Park Networks, LLC, a Los Angeles, Calif.-based talent
and management company, filed for Chapter 11 bankruptcy (Bankr. D.
Del. Case No. 14-10520) in Wilmington, on March 10, 2014,
estimating $50 million to $100 million in assets, and $10 million
to $50 million in debts.  The petition was signed by Jeffrey
Kwatinetz, president.

William E. Chipman, Jr., Esq., and Mark D. Olivere, Esq., at
Cousins Chipman & Brown LLP, in Wilmington, Delaware; and John H.
Genovese, Esq., Michael Schuster, Esq., and Heather L. Harmon,
Esq., at Genovese Joblove & Battista, P.A. serve as the Debtor's
bankruptcy counsel.

The Debtors' Chapter 11 plan and disclosure statement are due
May 29, 2014.

The U.S. Trustee has not yet appointed a creditors' committee in
the case.


PROVIDENT COMMUNITY: Suspending Filing of Reports with SEC
----------------------------------------------------------
Provident Community Bancshares, Inc., filed a Form 15 with the
U.S. Securities and Exchange Commission to suspend its reporting
obligations under Section 15(d) of the Securities Exchange Act of
1934, as amended, pursuant to Exchange Act Rule 12h-3(b)(1)(i) and
the no-action relief provided to the Company in a letter from the
U.S. Securities and Exchange Commission dated Feb. 10, 2014.

                     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: Finance Arm Hires Bankruptcy Lawyers
-------------------------------------------------
Michael Corkery, writing for The New York Times' DealBook,
reported that Puerto Rico's fiscal agent has hired another well-
known restructuring law firm, raising the specter that the
financially troubled island is preparing to revamp its finances.

According to the report, the Government Development Bank for
Puerto Rico, which oversees all of the commonwealth's debt deals,
said it had hired Cleary Gottlieb Steen & Hamilton.

The development bank declined to say whether Cleary had been hired
as part of an effort to restructure the commonwealth's debt, the
DealBook related.

"The G.D.B. regularly solicits advice and counsel from a number of
legal and financial advisers with respect to financing plans and
other related matters," a spokesman for the development bank said
in a statement, the report further related.  "Cleary Gottlieb
Steen & Hamilton were engaged by the G.D.B. as part of these
ongoing efforts."

The hiring of Cleary, which was first reported by The Wall Street
Journal, comes as Puerto Rico tries to jump-start a flagging
economy while also digging out from a mountain of municipal bond
debt, the report said.


PROSPECT SQUARE: Proposed Order on Continued Cash Use Filed
-----------------------------------------------------------
Prospect Square 07 A LLC and its four affiliates -- Prospect
Square 07 B, C, D and E -- on April 4 filed with the Bankruptcy
Court a proposed "Third Interim Order Authorizing Use of Cash
Collateral" in which MSCI 2007-IQ16 Retail 9654, LLC asserts an
interest.

The filing was made pursuant to a minute order entered April 2,
which directed the parties to submit their proposed order
continuing use of cash collateral for the next 60 days to the
Court for signature.  The agreed order, the Court said, must
provide for payment of certain management fee in accordance with
the Courts findings on the record, without prejudice to the right
ofthe secured creditor to file a motion at a later date.

On March 21, Bankruptcy Judge Elizabeth E. Brown entered a second
interim order that allowed the Debtors to use MSCI's Cash
Collateral through April 2.  Among others, the Court directed the
Debtors to make monthly adequate protection payments of $30,428 to
MSCI.

Three days later, MSCI filed a limited objection to impose
conditions on the Debtors' use of cash collateral beyond April 2.
MSCI said it objects to the Debtors' payment of monthly management
fees in derogation of a subordination agreement and requests that
an order authorizing use of cash collateral beyond April 2 provide
that the proposed management fees of $3,887 be held by the Debtors
in a segregated bank account, pending further Court order.

MSCI recounted that on July 9, 2007 the Debtors entered a
Management Agreement with GDA Real Estate Management, Inc. for the
management of the Debtors' property.  GDAREM, by and through its
president, Gary J. Dragul, is also the entity which signed and
filed the Debtors? Voluntary Petition, as the Manager of the
Debtors.  The Management Agreement provides it may only be
assigned by GDAREM with the express consent of the Debtors. The
Management Agreement provides that the manager shall be reimbursed
for expenses and paid a fixed monthly fee or 4% of actual income
collected.

The Secured Loan Documents provide that fees paid to the property
manager will not exceed 4% of rental collections.

On Oct. 10, 2007, as a condition to making the Loan, GDAREM
entered into a Subordination of Management Agreement and
Management Fees with the Original Lender, MSCI's predecessor in
interest.  The Subordination Agreement provides, among other
things, that GDAREM subordinates its rights to management fees
under the Management Agreement to the lien of the Original Lender
and to the rights of the Original Lender to receive payment from
the Debtors due under the Secured Loan Documents.  GDAREM further
agreed that it would not be entitled to receive any management
fees or other payments during any period that the Loan is in
default. The Loan is and remains in default.  No accounting has
been provided to MSCI and the amended schedules filed by the
Debtors show no payments made to insiders within the 12 months
preceding the Petition Date.

MSCI said that on March 4, 2014, at the First Meeting of Creditors
was conducted by the office of the United States Trustee, Gary J.
Dragul, representing the manager of the Debtors, advised that
approximately $600,000 to $700,000 had been paid to the Debtors'
manager during the 12 months preceding the Petition Date.  The
Debtors further represented that an accounting of the payment of
those fees would be forthcoming and that the Debtors would review
and amend their schedules to include a Schedule 3c (none having
been filed with the original Debtors' schedules) listing payments
to insiders within the one-year period preceding the petition
date.  MSCI believed that this would include the $600,000-$700,000
of payments made to the insider management company controlled by
Mr. Dragul.  MSCI said that as of the date of its objection, no
accounting has been provided to MSCI and the amended schedules
filed by the Debtors show no payments made to insiders within the
12 months preceding the Petition Date.

MSCI also said that at the status conference before the Court on
March 4, the parties indicated that they believed that they had
reached an agreed final cash collateral order.  However, after
learning that the property manager had received such excessive and
extraordinary fees in the 12 months prior to the bankruptcy
filing, which fees violate the 4% cap set forth in both the
Management Agreement and the Secured Loan Documents, by what
appears to be an amount of at least $500,000, MSCI made further
inquiries of the Debtors regarding the pre-petition and post-
petition management of the Property.

As a result of these inquiries, MSCI has become aware of
conflicting information as to which insider-controlled entity is
managing the Property.  Notwithstanding the fact that GDAREM is
the property manager pursuant to the Management Agreement, the
bankruptcy schedules show no payments to GDAREM in the 90 days
preceding the Petition Date. The schedules instead show payments
of approximately $84,000 to GDA Real Estate Services, LLC.

Further, the schedules do no list any executory contracts with
GDAREM but instead list a Management Agreement with GDA Management
Services LLC.  Notwithstanding its requests, MSCI has not been
provided with a copy of the scheduled management agreement.

MSCI said it recognizes the need for the Debtors to utilize cash
collateral to preserve and maintain the estate. However, MSCI is
entitled to adequate protection of its interests and it does not
consent to the use of cash collateral for the payment of
management fees in violation of the Subordination Agreement to an
insider-controlled affiliate of the Debtors.

Both the Debtors and MSCI have filed motions to conduct Rule 2004
examinations on the other party.  The Court granted the Motions on
April 3.

As of the Petition Date, the Debtors were indebted to MSCI in an
amount in excess of $18,000,000, including real estate taxes
advanced by the MSCI, and not reimbursed by Debtors in the amount
of $951,929.87.

In February, MSCI also objected to the proposed use of Cash
Collateral saying it wasn't adequately protected.  Among others,
MSCI said the proposed adequate protection limits MSCI's
replacement lien to only rents and income derived from the Project
and fails to specifically include insurance proceeds and income
from any and all assets of the Debtors which serve as MSCI's
collateral.

MSCI is represented by:

     MARKUS WILLIAMS YOUNG & ZIMMERMANN LLC
     James T. Markus, Esq.
     Jeffery O. McAnallen, Esq.
     1700 Lincoln Street, Suite 4550
     Denver, CO 80203-4505
     Telephone: (303) 830-0800
     Facsimile: (303) 830-0809

Prospect Square 07 A, LLC, and related entities sought Chapter 11
bankruptcy protection from creditors (Bankr. D. Colo. Lead Case
No. 14-10896) in Denver on Jan. 29, 2014.

Prospect Square 07 A is a Single Asset Real Estate as defined in
11 U.S.C. Sec. 101(51B) with principal assets located at 9690
Colerain Avenue, Cincinnati, Ohio.  The Debtor listed $16 million
in assets and more than $12 million in liabilities.  Lee M.
Kutner, Esq., at Kutner Brinen Garber, P.C., in Denver, serves as
the Debtors' counsel.


QUARTZ HILL: Hires Moffa & Bonacquisti as Special Counsel
---------------------------------------------------------
Quartz Hill Mining, LLC and Superior Gold LLC seek authorization
from the U.S. Bankruptcy Court for the Southern District of
Florida to employ John A. Moffa and the law firm of Moffa &
Bonacquisti, P.A. as special counsel.

Moffa & Bonacquisti will represent the Debtors in at least one
adversary proceeding which will be filed shortly and in any
contested matters.  Moffa & Bonacquisti will further be
responsible to assist with the hiring of other experts in the case
and in the recommendation process for potential investors and
lenders.  Moffa & Bonacquisti will also be responsible for the
preparation and filing of a Disclosure Statement and Plan of
Reorganization.

Moffa & Bonacquisti will be paid at these hourly rates:

       Attorneys                $250-$460
       Paralegals                $70-$160

John A. Moffa of Moffa & Bonacquisti 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 Southern District of Florida will hold a hearing
on the application on April 23, 2014, at 11:00 a.m.

Moffa & Bonacquisti can be reached at:

       John A. Moffa, Esq.
       MOFFA & BONACQUISTI, P.A.
       19 West Flagler St., #504
       Miami, FL 33031
       Tel: (954)634-4733
       Fax: (954) 337-0637
       E-mail: john@mbpa-law.com

Quartz Hill Mining, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 14-15419) on March 7,
2014.  The case is assigned to Judge Robert A Mark.  The Debtor's
counsel is Jacqueline Calderin, Esq., at Ehrenstein Charbonneau
Calderin, in Miami, Florida.  The Debtor's special counsel is John
A. Moffa, Esq., at Moffa & Bonacquisti, P.A., in Plantation,
Florida.  The Debtor said it has $58 million in assets and $7.5
million in debts.


RAINBOW SPRINGS: Case Summary & 6 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Rainbow Springs 2, LLC
        c/o The Corporation Trust Company of NV
        311 South Division Street
        Carson City, NV 89703

Case No.: 14-12338

Chapter 11 Petition Date: April 4, 2014

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

Judge: Hon. August B. Landis

Debtor's Counsel: Samuel A. Schwartz
                  6623 Las Vegas Blvd, SO., Ste 300
                  Las Vegas, NV 89119
                  Tel: (702) 385-5544
                  Fax: (702) 385-2741
                  E-mail: sam@schwartzlawyers.com

Total Assets: $481,619

Total Liabilities: $5.72 million

The petition was signed by Mark Jones, manager.

A list of the Debtor's six largest unsecured creditors is
available for free at http://bankrupt.com/misc/nvb14-12338.pdf


RESTORGENEX CORP: Obtains $250,000 Loan From Director
-----------------------------------------------------
Sol J. Barer, a Director and Chairman of the Board of Restorgenex
Corporation made a $250,000 loan to the Company evidenced by a
Secured Convertible Note.  The unpaid principal accrues interest
at 7 percent per annum and the Note is secured by all assets of
the Company.  The Note matures 12 months after the issuance date.
The Note is subject to mandatory conversion of the outstanding
principal and accrued interest into securities in a Qualified
Financing at a conversion price equal to 50 percent of the
purchase price per share or unit of the securities sold in that
Qualified Financing.

A Qualified Financing means the closing of one or more investments
(excluding the conversion of the Note) in which the Company
receives gross proceeds totaling at least $7,000,000 in exchange
for equity securities.  Alternatively, if at the time of a
Qualified Financing, the 50 percent conversion discount is greater
than $4.00, then the holder of the Note may elect to convert the
Note and any accrued but unpaid interest into the common stock of
the Company at the price of $4.00.

                         About RestorGenex

RestorGenex Corporation operates as a biopharmaceutical company.
It focuses on dermatology, ocular disease, and women's health
areas.  The company was formerly known as Stratus Media Group,
Inc., and changed its name to RestorGenex Corporation in March
2014.  RestorGenex Corporation is based in Los Angeles,
California.

Stratus Media disclosed a net loss of $6.84 million on $374,542 of
total revenues for the year ended Dec. 31, 2012, as compared with
a net loss of $23.63 million on $570,476 of total revenues for the
year ended Dec. 31, 2011. The Company's balance sheet at March 31,
2013, showed $2.18 million in total assets, $21.92 million in
total liabilities and a $19.73 million total shareholders'
deficit.

Goldman Kurland and Mohidin LLP, in Encino, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that Stratus Media has suffered recurring losses
and has negative cash flow from operations which conditions raise
substantial doubt as to the ability of the Company to continue as
a going concern.


RICEBRAN TECHNOLOGIES: Completes $4.9MM Conv. Note Financing
------------------------------------------------------------
RiceBran Technologies received gross proceeds of approximately
$4.9 million through the sale of convertible notes and warrants.
The Company intends to use the net proceeds from this private
placement for plant upgrades and capacity expansion in our USA
Segment to accelerate growth opportunities resulting from our
recent acquisition of H&N Distribution, Inc., and to provide
working capital for the Company's Irgovel rice bran bio-refinery
in Brazil.

The Company issued $4.9 million principal amount of notes at with
conversion price of $5.25 per share that will automatically
convert into common stock upon the Company receiving shareholder
approval to increase the amount of its authorized shares.  In
conjunction with the notes the Company issued warrants to purchase
approximately 1.4 million shares of RBT common stock at an
exercise price of $5.25 per share.

W. John Short, CEO & president of RiceBran Technologies commented,
"We are pleased to have completed this capital raise which puts
RBT in a position to meet the business objectives outlined in our
public filings.  Management can now focus our full attention on
rapidly growing our business to unlock what we believe is the true
value of our company and our rich technology in the second half of
2014 and beyond."

Maxim Group LLC acted as the lead placement agent and Dawson James
Securities, Inc., acted as a co-placement agent for the financing.

Additional information on this transaction can be found in the
Company's related filings with the United States Securities and
Exchange Commission, a copy of which is available for free at:

                        http://is.gd/owJQXu

                          About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

As reported in the TCR on April 15, 2013, BDO USA, LLP, in
Phoenix, Arizona, expressed substantial doubt about RiceBran
Technologies' ability to continue as a going concern.  The
independent auditors noted that the Company has suffered recurring
losses from operations resulting in an accumulated deficit of
$204.4 million at Dec. 31, 2012.  "Although the Company emerged
from bankruptcy in November 2010, there continues to be
substantial doubt about its ability to continue as a going
concern."

The Company's balance sheet at Sept. 30, 2013, showed $41.82
million in total assets, $38.16 million in total liabilities,
$7.86 million in temporary equity and a $4.22 million total
deficit attributable to the Company's shareholders.


RIH ACQUISITIONS: Hires Littler Mendelson as Special Counsel
------------------------------------------------------------
RIH Acquisitions NJ, LLC, dba The Atlantic Club Casino Hotel, and
RIH Propco NJ, LLC seek authorization from the Hon. Gloria M.
Burns of the U.S. Bankruptcy Court for the District of New Jersey
to employ Littler Mendelson P.C. ("Littler") as special ERISA
counsel to the Debtors pursuant to 11 U.S.C. Section 327(e), nunc
pro tunc to Jan. 1, 2014.

The Debtors require Littler to:

   (a) advice on the termination of any employee benefit plans,
       including, but not limited to, a 401(k) plan and welfare
       benefit arrangement;

   (b) assistance with amendments, resolutions, communications
       regarding cessation and termination of the employee
       benefit plans under the Internal Revenue Code and the
       Employee Retirement Income Security Act of 1974, as
       amended;

   (c) assistance with reporting and disclosure and other
       government filings in connection with the termination of
       employee benefit plans;

   (d) communications with the Debtors, the Debtors' counsel, the
       Buyer, the Buyer's counsel and service providers regarding
       the termination of any employee benefit plans;

   (e) submissions to the Internal Revenue Service and Department
       of Labor in connection with the termination and compliance
       of any employee benefit plans; and

   (f) perform all other necessary legal services in connection
       with these Chapter 11 cases.

Littler will be paid at these hourly rates:

       Shareholders               $480-$660
       Of Counsel
       Associates                 $340-$500
       Paraprofessionals            $285

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

Littler was engaged prior to the Petition Date and as of the
Petition Date, the Debtors owe Littler fees for legal services
performed or expenses incurred under the Engagement Letter of
approximately $2,000.

Melissa B. Kurtzman, shareholder of Littler, 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.

Littler can be reached at:

       Melissa B. Kurtzman
       LITTLER MENDELSON, P.C.
       Three Parkway
       1601 Cherry Street, Suite 1400
       Philadelphia, PA 19102

                     About RIH Acquisitions

RIH Acquisitions NJ LLC, doing business as the Atlantic Club
Casino Hotel in Atlantic City, New Jersey, filed a Chapter 11
petition (Bankr. D.N.J. Case No. 13-34483) on Nov. 6, 2013, in
Camden, New Jersey, to sell the property in the near term.

The Debtors are represented by Michael D. Sirota, Esq., and Warren
A. Ustaine, Esq., at Cole, Schotz, Meisel, Forman & Leonard, P.A.,
in Hackensack, New Jersey; and Paul V. Shalhoub, Esq., at Willkie
Farr & Gallagher LLP, in New York.  Duane Morris, LLP, serves as
the Debtors' special gaming regulatory counsel.

Imperial Capital, LLC, serves as financial advisor and investment
banker to the Debtors, while Mercer (US) Inc. serves as
compensation consultant.  Kurtzman Carson Consultants LLC is the
Debtors' claims and noticing agent.

Northlight Financial LLC, as DIP Lender, is represented by Harlan
W. Robins, Esq., at Dickinson Wright PLLC, in Columbus, Ohio;
Kristi A. Katsma, Esq., at Dickinson Wright PLLC, in Detroit,
Michigan; and Bruce Buechler, Esq., and Kenneth A. Rosen, Esq., at
Lowenstein Sandler LLP, in Roseland, New Jersey.

Financing for the Chapter 11 reorganization is being provided by
Northlight Financial LLC.

An official committee of unsecured creditors appointed in the case
is represented by Morton R. Branzburg, Esq., Carol Ann Slocum,
Esq., and Richard M. Beck, Esq., at Klehr Harrison Harvey
Branzburg LLP.  The Committee hired PricewaterhouseCoopers, LLC,
as financial advisor.

RIH Acquisitions NJ LLC scheduled $17,776,359 in total assets and
$16,813,022 in total liabilities.


RYNARD PROPERTIES: Taps Toni Campbell as Bankruptcy Counsel
-----------------------------------------------------------
Rynard Properties Ridgecrest, LP, in an amended application, asks
the U.S. Bankruptcy Court for the Western District of Tennessee
for permission to employ Toni Campbell Parker as counsel.

The original motion was filed on March 25.

Mr. Parker is the sole practitioner of the Law Firm of Toni
Campbell Parker.

The hourly rate of Mr. Parker agreed between the parties is $300.
A retainer of $28,789 has been paid to Mr. Parker to which future
fees and expenses awarded by the Court will apply.

To the best of the Debtor's knowledge, Mr. Parker has no adverse
interest to the Debtor, creditors or other interested parties in
the case.

Mr. Parker can be reached at:

         Toni Campbell Parker
         615 Oakleaf Office Lane, Suite 201
         Memphis, TN 38117
         P.O. Box 240666
         Memphis, TN 38124-0666
         Tel: (901) 483-1020
         Fax: (866) 489-7938
         E-mail: Tparker001@bellsouth.net

              About Rynard Properties Ridgecrest LP

Rynard Properties Ridgecrest LP is a Tennessee limited
partnership.  Its principal place of business is 2881 Rangeline
Road, Memphis, TN 38127, and the Debtor operates a 256 unit
multifamily apartment complex of Section 8 housing named
Ridgecrest Apartments and currently has TESCO operating the
complex as leasing agent.

The Debtor filed a Chapter 11 bankruptcy petition (Bankr. W.D.
Tenn. Case No. 14-22674) on March 13, 2014.  John Bartle signed
the petition as secretary/treasurer of Ridgecrest LLC, general
partner of the Debtor.  In its schedules, the Debtor disclosed
$16,231,959 in total assets and $8,734,000 in total liabilities.
Toni Campbell Parker serves as the Debtor's counsel.  Judge Jennie
D. Latta oversees the case.

The Debtor says it has no creditors holding unsecured priority
claims.

According to the docket, the Chapter 11 plan and disclosure
statement are due July 11, 2014.


SANITARY AND IMPROVEMENT: Voluntary Chapter 9 Case Summary
----------------------------------------------------------
Debtor: Sanitary and Improvement District
        #501, Douglas County, Nebraska
        c/o Pansing Hogan Ernst & Bachman, LLP
        10250 Regency Circle, Suite 300
        Omaha, NE 68114

Bankruptcy Case No.: 14-80658

Chapter 9 Petition Date: April 4, 2014

Court: United States Bankruptcy Court
       District of Nebraska (Omaha Office)

Debtor's Counsel: Mark James LaPuzza, Esq.
                  PANSING HOGAN ERNST & BACHMAN, LLP
                  10250 Regency Circle, Suite 300
                  Omaha, NE 68114
                  Tel: (402) 397-5500
                  Fax: (402) 397-4853
                  E-mail: mjlbr@pheblaw.com

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The petition was signed by John C. Allen, chairman.

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


SECURITY NATIONAL: Court Approves Tuggle Duggins as Counsel
-----------------------------------------------------------
Security National Properties Funding III, LLC and its debtor-
affiliates sought and obtained permission from the U.S. Bankruptcy
Court for the District of Delaware to employ Tuggle Duggins, P.A.
as special counsel, nunc pro tunc to Jan. 20, 2014, in relation to
the tax appeal.

The Debtors appealed the 2012 assessments of their real property
(the "Tax Appeal"), meeting the first County-set deadline of April
9, 2012.  The appeal proceeded through the County's internal
appeals process until Nov. 20, 2012, when the Guilford County
Board of Equalization and Review considered the appeal at an in-
person hearing.  The Debtors disagreed with the decision of the
Board of Equalization and Review, so the Debtors timely filed an
appeal to the North Carolina Property Tax Commission.  Tuggle
Duggins had previously represented the Debtors in a pre-petition
appeal of their 2007 property tax assessment.

Tuggle Duggins' compensation for its work in the Tax Appeal will
be contingent on the success of the appeal.  The April 4, 2012
Engagement Letter provides for Tuggle Duggins to be paid 30% of
the Debtors' two year tax savings if the appeal ends before an
appeal to the North Carolina Property Tax Commission.  The parties
agreed to reach a new agreement about the fee if an appeal to the
North Carolina Property Tax Commission is filed.

On Feb. 4, 2014, because an appeal to the North Carolina Property
Tax Commission was filed, the Debtors executed the engagement
letter dated Feb. 3, 2014 that provides for Tuggle Duggins to be
compensated in an amount equal to 40% of the Debtors' two year tax
savings.  Based on the agreed settlement and this fee structure,
the fee to Tuggle Duggins for achieving this result will be
$100,924.11.

Tuggle Duggins has engaged an appraiser to review the eleven prior
appraisals and to appear at the hearing as an expert witness.
Tuggle Duggins will pay the appraiser and the Debtors will
reimburse Tuggle Duggins for the appraiser's fees, regardless for
success in the appeal.  It is anticipated that the total expense
related to the appraiser will be less than $15,000.

Michael S. Fox, director of Tuggle Duggins, 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.

Tuggle Duggins can be reached at:

       Michael S. Fox
       TUGGLE DUGGINS P.A.
       100 North Greene St. Suite 600
       Greensboro, NC 27401
       Tel: (336) 271-5244
       Fax: (336) 274-6590
       E-mail: mfox@tuggleduggins.com

                       About Security National

Eureka, California-based Security National Properties Funding III
LLC owns and operates 33 commercial office, retail, industrial and
other properties.  Security National and various affiliates filed
for Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 11-13277)
on Oct. 13, 2011.  Judge Kevin Gross presides over the case.
Donna L. Culver, Esq., Robert J. Dehney, Esq., Justin K. Houser,
Esq., Andrew R. Remming, Esq., and Gregory W. Werkheiser, Esq., at
Morris, Nichols, Arsht & Tunnell, in Wilmington, Delaware, serve
as the Debtors' counsel.  GCG Inc. serves as the Debtors' claims
and notice agent.  The Debtors' scheduled assets total $24,758,433
while scheduled liabilities total $354,657,501.

The U.S. Trustee for Region 3 has been unable to form an official
committee of unsecured creditors.


SHELBOURNE NORTH WATER: Amended Plan Deal Okayed
------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
according to Shelbourne North Water Street, L.P.'s case docket,
approved the (i) Amended Plan Agreement dated Feb. 6, 2014,
between the Debtor, and Atlas Apartment Holdings, LLC, and (ii)
break up fee and expense reimbursement.

Atlas Apartment is a major international residential developer and
apartment owner headquartered in Chicago.

As reported in the Troubled Company Reporter on March 3, 2014, the
plan investment agreement provides for up to $135 million of
funding for a plan of reorganization that will pay all bona fide
claims in full.  The plan will enable the Debtor to emerge from
bankruptcy and with Atlas to move forward with the Chicago Spire,
the 2,000 foot high residential building at the intersection of
the Chicago River and Lake Michigan.  Before the recession, the
vertical foundations of the tower and underground garage had been
completed, as had the ramps to lower Lake Shore Drive.

RMW Acquisition Company, LLC, RMW CLP Acquisitions, LLC and RMW
CLP Acquisitions II, LLC, object to the proposed plan investment
agreement calling it "illusory and a sham."  RMW argue that "they
represent the epitome of failure by the Debtor -- failure to
comply with any cognizable bankruptcy law that would support the
approval of the Atlas agreement, failure to evidence even the most
basic business reason why the Atlas Agreement should receive any
consideration in the bankruptcy case; and failure to tell the
Court that the proposed deal simply gives Atlas a 100% free option
and improper control of the case in return for a vague,
uncommitted, unfunded, and discretionary agreement by Atlas to
spend up to five months doing diligence on a dormant single asset
real estate project."

Brown, Udell, Pomeranz & Delrahim, Ltd., joined in RMW's
objections.

RMW is represented by Brian L. Shaw, Esq., and Peter J. Roberts,
Esq., at Shaw Fishman Glantz & Towbin LLC, in Chicago, Illinois;
and Lenard M. Parkins, Esq., Trevor R. Hoffmann, Esq., Jonathan
Hook, Esq., and John D. Beck, Esq., at Haynes and Boone LLP, in
New York.

Shorge Sato, Esq., at Brown, Udell, Pomeranz & Delrahim, Ltd., in
Chicago, Illinois, represented itself in the Chapter 11 case.

             About Shelbourne North Water Street L.P.

A group of creditors filed an involuntary Chapter 11 petition
against Chicago, Illinois-based Shelbourne North Water Street L.P.
on Oct. 10, 2013 (Bankr. D. Del. Case No. 13-12652).  The case is
assigned to Judge Kevin J. Carey.

The petitioners are represented by Zachary I Shapiro, Esq., and
Russell C. Silberglied, Esq., at Richards, Layton & Finger, P.A.,
in Wilmington, Delaware.

The Debtor consented on Nov. 8, 2013, to being in Chapter 11
reorganization.

FrankGecker LLP represents the Debtor in its restructuring
efforts.


SKILLSOFT LTD: S&P lowers Corp. Credit Rating to 'B-'
-----------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on SkillSoft Ltd. to 'B-' from 'B'.  The outlook is
stable.

At the same time, S&P assigned a 'B-' corporate credit rating and
stable outlook to Evergreen Skills Lux S.ar.l. (Evergreen).  S&P
also assigned 'B-' issue-level ratings to Evergreen's proposed
$100 million revolver and $900 million first-lien term loan, with
a recovery rating of '3'indicating S&P's expectation for
meaningful (50%-70%) recovery in the event of a payment default.
In addition, S&P assigned a 'CCC' issue level rating with a
recovery rating of '6' to the proposed $485 million second-lien
term facility.  The '6' recovery rating indicates S&P's
expectation of negligible (0%-10%) recovery in the event of a
payment default.

S&P will withdraw the issue-level ratings on SSI Investments'
rated debt upon the closing of this transaction.

"The downgrade of SkillSoft reflects the company's sharply higher
leverage position with fiscal year-ended Jan. 31, 2014 pro forma
debt leverage of 16.7x, including our treatment of the $1.03
billion of preferred equity certificates (PECs) being invested in
the company by the investors as debt," said Standard & Poor's
credit analyst Jacob Schlanger.

Excluding the PECs, adjusted pro forma debt to EBITDA is 9.7x
compared to the actual level of 5.1x for the time period.

The rating on Evergreen reflects the company's weak business risk
profile assessment, which incorporates the company's narrow
business profile and niche, albeit strong, market position in the
$3.8 billion global off-the-shelf enterprise e-learning market.
This is part of the broader, more than $120 billion global
enterprise learning market, in which the company competes with
other larger and better capitalized companies as well as with in-
house training.  S&P views financial risk as "highly leveraged,"
reflecting the company's private equity ownership and the pro
forma leverage in excess of 9x that the company will have after
this transaction.  S&P views country risk as "very low,"
reflecting a high proportion of sales in North America and Europe,
and industry risk as "intermediate," reflecting the company's
participation in the technology software and services industry.
S&P views management and governance as "fair." No modifiers affect
our initial 'b-' anchor score rating.

The stable outlook reflects S&P's view that the company's
significant recurring revenue base and consistent operating
performance will enable it to preserve positive FOCF, maintain
adequate liquidity, and achieve some reduction in leverage from
the present high levels over the near term.

Although it is unlikely, S&P could lower the rating if performance
deteriorates, resulting in negative free cash flow generation and
less-than-adequate liquidity.

SkillSoft's highly leveraged financial profile currently
constrains the ratings upside.  However, if the company sustains
leverage in the mid 7x area, S&P would consider raising the
rating.


SMHC LLC: Michigan Mobil Home Parks File for Reorganization
-----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that SMHC LLC, the owner of eight manufactured-housing
parks in Michigan's lower peninsula, filed a petition for Chapter
11 protection on April 1 in Detroit.

According to the report, citing court filings, the properties fell
40 percent in value since 2008, giving the company's properties a
current appraised value of $15.2 million.

The report said the companies encountered financial problems
because so many owners defaulted on their loans.  To prevent
having the parks seem distressed and further lose tenants, the
companies were forced to acquire and fix up vacant homes, the
report related.

The case is In re SMHC LLC, 14-bk-45579, U.S. Bankruptcy Court,
Eastern District of Michigan (Detroit).


SOUND SHORE: Hires Ward Greenberg as Litigation Counsel
-------------------------------------------------------
Sound Shore Medical Center and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the Southern
District of New York to employ Ward Greenberg Heller & Reidy LLP
to, inter alia, provide litigation assistance and advice in
relation to a pending appeal commenced by the Debtors prior to the
petition date challenging the regional placement of Howe Avenue
Nursing Home dba Helen and Michael Schaffer Extended Care Center
("HOwe Avenue") by the New York State Department of Health
("DOH"), for purposes of calculating the Wage Equalization Factor
("WEF") adjustment to Howe Avenue's Medicaid reimbursement rates
for the periods beginning April 1, 2009 through the present (the
"WEF Appeal").

Ward Greenberg will provide counseling and assistance with respect
to the pending WEF Appeal, which challenges the DOH's
determinations, effective as to the rate years beginning on
April 1, 2009 to the present, to:

   -- reclassify Howe as a "Westchester Region" facility for
      purposes of calculating the WEF Factor adjustment to its
      Medicaid rates, and

   -- include in its calculation of "patient days", as used in
      the Medicaid rate calculations, the number of "reserved bed
      patient days" (the "Services").

The fees which will be paid to Ward Greenberg are to be calculated
and paid on a contingency basis, equivalent to 33.3% of any
recoveries obtained on behalf of the Debtors as result of the
appeal.

Thomas D'Antonio, member of Ward Greenberg, 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.

Ward Greenberg can be reached at:

       Thomas D'Antonio, Esq.
       WARD GREENBERG HELLER & REIDY, LLP
       300 State Street
       Rochester, NY 14614
       Tel: (585) 454-0715
       Fax: (585) 231-1902
       E-mail: tdantonio@wardgreenberg.com

                About Sound Shore Medical Center

Sound Shore Medical Center of Westchester, Mount Vernon Hospital
Inc., Howe Avenue Nursing Home and related entities sought
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 13-22840) on
May 29, 2013, in White Plains, New York.

The Debtors were the largest "safety net" providers for Southern
Westchester County in New York.  Affiliated with New York Medical
College, Sound Shore is a not-for-profit 242-bed, community based-
teaching hospital located in New Rochelle, New York.  Mountain
Vernon Hospital is a voluntary, not-for-profit 176-bed hospital
located in Mount Vernon, New York.  Howe Avenue Nursing Home is a
150-bed, comprehensive facility.

The Debtors tapped Burton S. Weston, Esq., at Garfunkel Wild, P.C.
as counsel; Alvarez & Marsal Healthcare Industry Group, LLC, as
financial advisors; and GCG Inc., as claims agent.

Alston & Bird LLP represents the Official Committee of Unsecured
Creditors.  Deloitte Financial Advisory Services LLP serves as the
Committee's as financial advisor.

Sound Shore disclosed assets of $159.6 million and liabilities
totaling $200 million.  Liabilities include a $16.2 million
revolving credit and a $5.8 million term loan with Midcap
Financial LLC.  There is $9 million in mortgages with Sun Life
Assurance Co. of Canada (US) and $11.5 million owing to the New
York State Dormitory Authority.

Neubert, Pepe & Monteith, P.C., represents Daniel T. McMurray, the
patient care ombudsman for Sound Shore.

The Debtors filed for bankruptcy to sell their assets, including
their hospital and nursing home operations, to the Montefiore
health system.  On Aug. 8, 2013, the Bankruptcy Court entered an
order, as affirmed and ratified by a Supplemental Sale Order
entered on Oct. 15, 2013, approving the sale to Montefiore New
Rochelle Hospital, Inc., Schaffer Extended Care Center, Inc.,
Montefiore Mount Vernon Hospital, Inc. and certain related
affiliates.

In June 2013, Montefiore added $4.75 million to its purchase offer
to speed up the sale.  Montefiore raised its bid to $58.75 million
plus furniture and equipment as part of a request for a private
sale of the hospitals.

On Nov. 6, 2013 at 12:01 a.m. the closing of the Sale occurred and
the sale became effective.

Montefiore is represented by Togut, Segal & Segal LLP.


SWJ HOLDINGS: U.S. Trustee Asks Court to Dismiss or Convert
-----------------------------------------------------------
Roberta A. DeAngelis, United States Trustee for Region 3, asks the
Court to dismiss the Chapter 11 cases of SWJ Holdings, LLC, and
SWJ Management, LLC, or alternatively, to convert the cases to
Chapter 7 under Section 1112(b) of the Bankruptcy Code.

The U.S. Trustee explains that although the cases have been
pending for nearly a month, the only documents filed are bare,
incomplete petitions and unverified creditor matrices.  Ms.
DeAngelis adds that SWJ have failed to file the list of their top
20 unsecured creditors, a statement of their equity holders, or
the corporate resolution authorizing the bankruptcy filing, all of
which were due with their petition.

Ms. DeAngelis notes that SWJ have also failed to file documents
that subsequently became due such as their schedules and statement
of financial affairs and have not even retained local counsel as
required.

Juliet Sarkessian, Esq., in Wilmington, Delaware, points out that
there are at least three grounds to convert or dismiss the cases:

   (a) Section 1112(b)(4)(F) of the Bankruptcy Code states that
       "cause" for dismissal or conversion includes "unexcused
       failure to satisfy timely any filing or reporting
       requirement established by this title or by any rule
       applicable to a case under this chapter . . .";

   (b) Section 1112(b)(4)(H) of the Bankruptcy Code states that
       "failure to timely provide information or attend meetings
       reasonably requested by the United States trustee" is
       grounds for dismissal or conversion; and

   (c) Local Rule 9010-1(c) and (d) requires debtors to obtain
       local counsel within 30 days of filing for bankruptcy.

SWJ has failed to comply with all three statutes, says Ms.
Sarkessian.

The U.S. Trustee believes that dismissal would be more appropriate
than conversion as no evidence has been introduced to show that
SWJ have any assets to be administered.

               About SWJ Holdings and SWJ Management

SWJ Holdings, LLC filed a Chapter 11 bankruptcy petition (Bankr.
D. Del. Case No. 14-10376) on Feb. 25, 2014, estimating $10
million to $50 million in assets and less than $10 million in
liabilities.

A related entity -- SWJ Management, LLC -- filed for Chapter 11
protection (Bankr. D. Del. Case No. 14-10460) on March 3, 2014.
It estimated $10 million to $50 million in assets and $1 million
to $10 million in liabilities.

Judge Christopher S. Sontchi is assigned to the cases.

Bruce Duke, Esq., in Mount Laurel, New Jersey, serves as counsel
to the Debtors.

The Chapter 11 plan and disclosure statement are due July 1, 2014.

The petitions were signed by Richard Annunziata as managing
member.


TELEPHONE AND DATA: S&P Lowers CCR to 'BB+'; Outlook Negative
-------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit ratings on Chicago-based diversified
telecommunications services provider Telephone and Data Systems
Inc. (TDS) and its 84%-owned operating subsidiary, United States
Cellular Corp., to 'BB+' from 'BBB-'.  The rating outlook is
negative.

At the same time, S&P lowered its issue-level ratings on the
company's unsecured debt, including debt at its operating
subsidiaries, to 'BB+' from 'BBB-' and assigned a '3' recovery
rating to this debt.  The '3' recovery rating indicates S&P's
expectation for meaningful (50%-70%) recovery for lenders in the
event of a default.  Although recovery under the current capital
structure would likely be higher, recovery ratings on unsecured
debt issued by companies rated 'BB-' or higher are generally
capped at '3' to account for the greater risk of recovery
prospects being impaired due to incremental debt issuance prior to
default.

"The rating downgrade reflects our opinion that adjusted leverage
will remain above 2x over the next few years, and that FOCF could
be negative until 2016 or 2017 due to intense competition and
margin pressure at U.S. Cellular," said Standard & Poor's credit
analyst Michael Altberg.

While visibility at U.S. Cellular is currently low, S&P believes
churn will remain elevated in 2014 due to the lingering impact of
billing conversion challenges in the first half of the year.  As a
result, despite the potential for healthy gross additions this
year, S&P believes that net subscribers will most likely not grow
before 2015.  S&P believes U.S. Cellular will need to improve its
EBITDA margin, which was roughly 12.2% for 2013, to at least the
mid- to high-teen percent area to generate modest positive free
cash flow on a sustained basis.  Given the company's smaller
scale, S&P believes this would require a minimum of mid-single-
digit revenue growth, which could be challenging over the next few
years given increased pricing competition in the wireless industry
that could mute average revenue per user (ARPU) growth.  As a
result of these assumptions and forecasted credit metrics, S&P has
revised its financial risk profile assessment to "intermediate"
from "modest".

The 'BB+' rating reflects S&P's view of the company's "fair"
business risk profile and "intermediate" financial risk profile.
S&P's business risk assessment reflects intense competition at its
wireless subsidiary, U.S. Cellular, along with secular pressure on
the wireline business.  These risks largely offset the company's
moderate business diversification due to its two business
segments, and S&P's expectation of growing contributions from
recently acquired cable and hosted and managed services (HMS)
businesses over the next few years.

The negative rating outlook reflects low visibility at U.S.
Cellular in 2014, and the potential for a further downgrade over
the next 12 months if S&P believes the company isn't on a
trajectory to improve subscriber trends and grow revenue and
improve profitability in 2015.

S&P could lower the rating due to a revision in its business risk
profile assessment to "weak" from "fair" as a result of
intensifying competitive pressure in the wireless business that
precludes margin improvement and stabilization in subscriber
losses.  Factors that could lead to such a scenario include
continued high postpaid churn and competitive pressure that
precludes material ARPU growth.  Additionally, S&P could lower the
rating if adjusted leverage increased above 3x on a sustained
basis, either due to the adoption of a more aggressive financial
policy or a deterioration in operating performance.

A revision of the outlook to stable would require confidence that
the company is on a trajectory to stabilize operating performance
at U.S. Cellular, leading to revenue growth and margin improvement
in 2015.  Longer term, any rating upgrade would require the
company to improve the EBITDA margin at U.S. Cellular back to the
high-teen area or above, resulting in positive free cash flow in
the wireless business and consolidated adjusted leverage below 2x
on a sustained basis.  Under S&P's base case scenario, it believes
this will be challenging given intensifying competitive pressure
in the wireless industry.  An outlook revision to stable or any
longer-term upgrade scenario would also assume relatively stable
performance at TDS Telecom, with growth in acquired cable and HMS
businesses somewhat offsetting ongoing declines in the core
wireline business.


TEXAS COMPETITIVE: S&P Lowers CCR to 'D' on Imminent Bankruptcy
---------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Texas Competitive Electric Holdings Co. LLC to
'D' from 'CCC-', based on a payment default and an imminent and
unavoidable bankruptcy filing.  S&P also lowered all of TCEH's
debt ratings, except those debt ratings already at 'D'.  S&P also
revised its recovery rating on TCEH's first-lien debt to '4' from
'3', based on updated valuation and claims.

S&P lowered its corporate credit ratings on each of Energy Future
Holdings Corp. (EFH), Energy Future Intermediate Holdings Co. LLC
(EFIH), and Energy Future Competitive Holdings Co. LLC (EFCH) to
'CC' from 'CCC-'.  S&P lowered all EFH, EFIH, and EFCH debt
ratings, except for the EFIH second-lien debt rating and those
debt ratings already at 'D'.  For EFIH's second-lien debt, S&P
revised the recovery rating to '2' from '5'.

"We expect EFH, EFIH, EFCH, and TCEH to file for Chapter 11
bankruptcy protection very soon.  TCEH did not pay interest on
certain first-lien, second-lien, and unsecured debt issues on
April 1, 2014," said Standard & Poor's credit analyst Terry Pratt.

Although the terms of these issues allow a grace period for
payment, S&P do not think TCEH will pay them within that period.
S&P thinks the payment default on these debt issues will result in
a general default on all obligations when TCEH files for
bankruptcy protection.  Therefore, S&P lowered the TCEH corporate
credit rating to 'D'.  Similarly, S&P lowered TCEH's nondefaulted
debt with some recovery prospects to 'CC' and debt with poor
recovery prospects to 'C'.

S&P's decision to revise TCEH's first-lien debt recovery rating to
'4' from '3' results from an update on valuation given current
market conditions and revisions to S&P's assessment of first-lien
claims and potential for DIP financing.  S&P revised EFIH's
second-lien debt recovery rating to '2' from '5' and raised the
debt rating to 'CCC-' from 'CC', based on an updated valuation of
Oncor and factoring in potential DIP financing.

The imminent and unavoidable bankruptcy filing upcoming for EFH,
EFIH, EFCH, and TCEH results from TCEH's inability to meet its
upcoming financial obligations due to insufficient cash flow from
its Luminant electric wholesale and TXU Retail competitive retail
operations in the North sub-region of the Electric Reliability
Council of Texas market.  These upcoming financial obligations
include maturities of $3.8 billion senior secured debt due October
2014, $3.4 billion senior notes due 2015, $1.7 billion senior
toggle notes due 2016, and $16.7 billion in senior secured
facilities due 2017.


THERAPEUTICSMD INC: Offering 9 Million Shares at $7.1 Apiece
------------------------------------------------------------
TherapeuticsMD, Inc., launched an underwritten secondary public
offering of 9,000,000 shares of its common stock, offered at a
price of $7.10 per share.  All shares are offered by the selling
stockholders, including certain members of management of the
Company and certain of their and the Company's affiliates.

The Company will not sell any shares or receive any proceeds from
the offering.  The offering is expected to close on or about
March 26, 2014, subject to the satisfaction of customary closing
conditions.  In addition, certain of the selling stockholders have
granted the underwriters a 30-day option to purchase up to an
aggregate of 1,350,000 additional shares of common stock.

Jefferies LLC and Stifel are acting as joint book-running managers
for the offering, and Cowen and Company, LLC, and Mizuho
Securities USA Inc. are acting as co-managers for the offering.

                        About TherapeuticsMD

Boca Raton, Florida-based TherapeuticsMD, Inc. (OTC QB: TXMD) is a
women's healthcare product company focused on creating and
commercializing products targeted exclusively for women.  The
Company currently manufactures and distributes branded and generic
prescription prenatal vitamins as well as over-the-counter
vitamins and cosmetics.  The Company is currently focused on
conducting the clinical trials necessary for regulatory approval
and commercialization of advanced hormone therapy pharmaceutical
products designed to alleviate the symptoms of and reduce the
health risks resulting from menopause-related hormone
deficiencies.

In the auditors' report accompanying the consolidated financial
statements for the year ended Dec. 31, 2012, Rosenberg Rich Baker
Berman & Company, in Somerset, New Jersey, expressed substantial
doubt about TherapeuticsMD's ability to continue as a going
concern, citing the Company's loss from operations of
approximately $16 million and negative cash flow from operations
of approximately $13 million.

The Company reported a net loss of $35.1 million on $3.8 million
of revenues in 2012, compared with a net loss of $12.9 million on
$2.1 million of revenues in 2011.  The Company's balance sheet at
Sept. 30, 2013, showed $68.47 million in total assets, $6.39
million in total liabilities and $62.08 million in total
stockholders' equity.


TMT GENERAL: Queens Property to Be Sold at May 9 Auction
--------------------------------------------------------
Pursuant to a Judgment of Foreclosure and Sale entered in the
case, NYCTL 1998-2 Trust and The Bank Of New York Mellon, as
collateral agent and custodian, Plaintiffs against TMT GENERAL
CONTRACTING NY CORP., et al Defendant(s), pending in the Supreme
Court, County of Queens, on Feb. 27, 2014, the premises owned by
TMT General will be sold at public auction at the Queens County
Supreme Courthouse, 88-11 Sutphin Blvd., in Courtroom #25,
Jamaica, NY on May 9, 2014, 10:00 a.m.

The property is known as 172 Street, Queens, NY.  The approximate
amount of lien is $7,034.98 plus interest and costs. Premises will
be sold subject to provisions of filed judgment and terms of sale.

The referee, who will conduct the sale, is Nicole D. Katsorhis,
Esq.

The Plaintiffs are represented by:

     Phillips Lytle LLP
     1400 First Federal Plaza
     Rochester, NY 14614


TOYS 'R' US: Moody's Lowers CFR to 'B3'; Outlook Negative
---------------------------------------------------------
Moody's Investors Service downgraded the ratings of Toys "R" Us,
Inc., including the Corporate Family and Probability of Default
ratings, which were downgraded to B3 and B3-pd, respectively, from
B2 and B2-pd. The Speculative Grade Liquidity rating of SGL-2 was
unchanged. The outlook is negative.

Ratings downgraded include:

Toys "R" Us, Inc.

  Corporate family rating to B3 from B2

  Probability of default rating to B3-PD from B2-PD

  $400M 7.375% senior notes due 2018 to Caa2/94-LGD6 from
  Caa1/94-LGD6

  $450M10.375% senior notes due 2017 to Caa2/94-LGD6 from
  Caa1/94-LGD6

Toys "R" Us Property Company II, LLC

  $725M 8.500% senior secured notes due 2017 to Ba3/14-LGD2 from
  Ba2/15-LGD2

Toys "R" Us Property Company I, LLC

  $985M Term Loan to Caa1/75-LGD5 from B3/77-LGD5

Ratings Affirmed include:

Toys "R" Us, Inc.

  Speculative Grade Liquidity rating at SGL-2

Toys "R" Us Delaware, Inc.

  $700M Sr Sec Credit Facility due 2016 to B2/41-LGD3 from B2/47-
  LGD3

  $400M Incremental secured term loan facility due 2018 to B2/41-
  LGD3 from B2/47-LGD3

  $225M Second incremental secured term loan facility due 2018 to
  B2/41-LGD3 from B2/47-LGD3

  $350M 7.375% senior secured notes due 2016 to B2/41-LGD3 from
  B2/47-LGD3

Ratings Rationale

"The rating actions consider Toys very poor 2013 operating
performance, particularly during the critical Holiday-driven
fourth quarter, which was well-below our expectations," stated
Moody's Vice President Charlie O'Shea. "While we understand that
2013 on the whole and the fourth quarter in particular were
challenging across retail, Toys' performance was well-below peers.
In particular, the company's video business was unable to
capitalize on the favorable console launches that proved
beneficial to several of its key competitors in this important
product category" he added. The resulting quantitative credit
profile is significantly weakened, with debt/EBITDA approaching
its immediate post-LBO levels of over 8 times, and interest
coverage (EBITA/interest) below 1 time. Moody's expects some
improvement in performance during 2014, with this expectation a
critical factor supporting the B3 rating. Finally, Moody's notes
the positive impact on liquidity of the company's recent renewal
and extension of its unrated $1.85 billion ABL on more favorable
terms, as well as the lack of any further debt maturities until
September 2016. The SGL-2 speculative grade liquidity rating is an
additional key factor underpinning the B3 corporate family rating.

The B3 rating reflects Toys' weak quantitative credit profile,
which remains hamstrung by the significant levels of LBO debt that
still remain, making reductions in debt/EBITDA to below 6 times
difficult to envision in the foreseeable future. The rating also
incorporates the company's market position, which while challenged
by a formidable set of core competitors such as Walmart, Target,
Amazon, and Best Buy, remains a key positive rating factor, as are
its relationships with key vendors such as Mattel and Hasbro.

The company's liquidity remains good, as reflected in the SGL-2
rating. However, any weakening could result in a downgrade, and
the company will need to address its nearly $1 billion in Toys "R"
Us Delaware September 2016 maturities well in advance.

The negative outlook reflects Moody's view that the company will
be challenged to improve its operating performance meaningfully
throughout 2014. Sequential improvement will be critical to the
maintenance of both the B3 and SGL-2 ratings.

To stabilize the outlook, the company will need to demonstrate the
ability to minimize revenue erosion as well as improve margins,
which would be evidenced by interest coverage exceeding 1 time. In
addition, the refinancing of the 2016 maturities would need to be
executed on reasonable terms.

An upgrade would require the company to maintain debt/EBITDA below
7 times and interest coverage of above 1.25 times.

A downgrade could occur if the company's operating performance
were to deteriorate further, or if liquidity were impaired, either
from weaker than expected operating performance or failure to
successfully address the 2016 maturities well in advance.

The methodologies used in this rating were Global Retail Industry
published in June 2011, and Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA
published in June 2009.

Headquartered in Wayne, New Jersey, USA, Toys "R" Us is a leading
specialty toy and juvenile retailer, with annual revenues of
around $12.5 billion, roughly 40% of which are generated through
its International division.


TRI-CITIES MEMORY: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Tri-Cities Memory Gardens, Inc.
        2360 Highway 75
        P.O. Box 6
        Blountville, TN 37617

Case No.: 14-50577

Chapter 11 Petition Date: April 4, 2014

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Greeneville)

Judge: Hon. Marcia Phillips Parsons

Debtor's Counsel: Mark S. Dessauer, Esq.
                  HUNTER, SMITH & DAVIS, LLP
                  1212 North Eastman Road
                  P. O. Box 3740
                  Kingsport, TN 37664
                  Tel: (423) 378-8840
                  Fax: (423) 378-8801
                  E-mail: dessauer@hsdlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jeffrey Gasperson, president.

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


TRIAD CAMPUS: Section 341(a) Meeting Scheduled on May 13
--------------------------------------------------------
A meeting of creditors in the bankruptcy case of Triad Campus V,
LLC, will be held on May 13, 2014, at 9:00 a.m. at San Francisco
U.S. Trustee Office.  Creditors have until Aug. 11, 2014, to
submit their proofs of claim.

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

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

Triad Campus V, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Cal. Case No. 14-30536) on April 6, 2014.  The
petition was signed by John T. Kontrabecki as authorized agent.
The Debtor estimated assets and debts of at least $10 million.
John T. Kontrabecki, Esq., at TKG International, serves as the
Debtor's counsel.  Judge Roger Efremsky presides over the case.


TRIAD CAMPUS V: Case Summary & 4 Unsecured Creditors
----------------------------------------------------
Debtor: Triad Campus V, LLC
           fka Triad Campus I, LLC
           fka Triad Campus II, LLC
           fka Triad Campus V, LLC
        327B Infantry Terrace
        San Francisco, CA 94129

Case No.: 14-30536

Chapter 11 Petition Date: April 6, 2014

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Hon. Dennis Montali

Debtor's Counsel: John T. Kontrabecki, Esq.
                  TKG INTERNATIONAL
                  3171 Independence Dr
                  Livermore, CA 94551
                  Tel: (925) 456-0300
                  E-mail: jkontrabecki@tkgintl.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by John T. Kontrabecki, authorized agent.

List of Debtor's four Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Trumak Homes, LLC                  Contract Claim      $150,000

Triad Park Owners Assoc.           Association Dues     $64,421

Franchise Tax  Board Special       Taxes                 $5,625
Procedures Bankruptcy Unit

Weber & Company, Inc.              Trade Debt            $6,523


WAFERGEN BIO-SYSTEMS: Stephen Baker Named CFO
---------------------------------------------
WaferGen Bio-systems, Inc.'s Board of Directors retained Stephen
T. Baker of Randstad Professionals US, LP, d/b/a Tatum, a leading
financial consultancy firm, to serve as the Company's chief
financial officer.  Mr. Baker will serve as the Company's chief
financial officer and principal financial and accounting officer
and will replace John Harland who submitted his resignation on
March 18, 2014, effective as of April 15, 2014.

Mr. Baker has more than 25 years of financial, operational and
international experience, and has been a partner at Tatum since
2013.  He has served as a chief financial officer at Frontrange
Solutions, Roamware, and Geoworks Corporation.  Earlier in his
career, he has held a number of executive positions of increasing
responsibility at Bell Communications Research, Novell, Inc., Unix
Systems, and AT&T.  Mr. Baker holds a BA in Molecular Biology from
University of Pennsylvania, and a Masters in Business
Administration (Finance and Accounting) from Columbia University.

In connection with retaining Mr. Baker as the Company's chief
financial officer, the Company entered into a Confidential
Consulting Agreement with Tatum, effective March 21, 2014, for the
provision of Mr. Baker's services, and will pay Tatum $4,500 per
week for up to 20 hours of professional services.  In addition,
for work by Mr. Baker or other Tatum professional in excess of 20
hours, the Company will pay Tatum at a rate of $250 per hour.  The
Consulting Agreement requires that the Company indemnify Mr. Baker
and Tatum in connection with services thereunder.  The Consulting
Agreement has an indefinite term, subject to termination in
accordance with its terms.

                     Financial Statements Filed

WaferGen Bio-systems had previously completed the acquisition of
substantially all of the assets of the product line of IntegenX
Inc. used in connection with developing, manufacturing, marketing
and selling instruments and reagents relating to library
preparation for next generation sequencing, including the Apollo
324TM instrument and the PrepXTM reagents, pursuant to an Asset
Purchase Agreement dated Jan. 6, 2014, by and between the Company
and IntegenX.

On March 21, 2014, the Company provided the U.S. Securities and
Exchange Commission copies of:

   (a) The audited statements of assets acquired and liabilities
       assumed and the related statements of net revenues and
       direct costs and operating expenses of the Apollo Product
       Line for the year ended Dec. 31, 2013, and the related
       notes to the financial statements, as copy of which is
       available for free at http://is.gd/CrusP5

   (b) The unaudited consolidated financial information,
       comprising an unaudited pro forma condensed consolidated
       balance sheet as of Dec. 31, 2013, and an unaudited pro
       forma condensed consolidated statement of operations for
       the year then ended, prepared on the basis as described
       therein, of WaferGen Bio-systems, Inc, a copy of which is
       available for free at http://is.gd/JhvAwg

                     About WaferGen Bio-systems

Fremont, California-based WaferGen Bio-systems, Inc., engages in
the development of systems for gene expression quantification,
genotyping and stem cell research.  Since 2008, the Company's
primary focus has been on the development, manufacture and
marketing of its SmartChip System, a genetic analysis platform
used for profiling and validating molecular biomarkers in the life
sciences and pharmaceutical drug discovery industries.

WaferGen Bio-systems reported a net loss attributable to common
stockholders of $17.71 million on $1.30 million of total revenue
for the year ended Dec. 31, 2013, as compared with a net loss
attributable to common stockholders of $8.97 million on $586,176
of total revenue for the year ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $12.03 million in total
assets, $13.24 million in total liabilities and a $1.21 million
total stockholders' deficit.

SingerLewak LLP, in San Jose, California, issued a "going concern"
qualification on the consoliated financial statements for the year
ended Dec. 31, 2013.  The independent auditors noted that the
Company has incurred operating losses and negative cash flows from
operating activities since inception which raise substantial doubt
about the Company's ability to continue as a going concern.


WEIGHT WATCHERS: S&P Lowers CCR to 'B' on Low Profit Expectations
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on New York City-based Weight Watchers International Inc.
to 'B' from 'B+'.  The outlook is stable.

At the same time, S&P lowered its issue-level ratings on Weight
Watchers' senior secured revolving credit and term facilities to
'B+' (one notch higher than S&P's corporate credit rating on the
company) from 'BB-'.  S&P's recovery rating on these facilities is
'2', indicating its expectation of substantial (70% to 90%)
recovery for lenders in the event of a payment default.

Concurrently, S&P removed all ratings from CreditWatch, where it
had placed them with negative implications on Feb. 21, 2014.

"The downgrade reflects the further downward revision of our base-
case forecast, as we believe Weight Watchers' profitability will
be weaker than we previously anticipated," said Standard & Poor's
credit analyst Linda Phelps.  "Though the company continues to
implement cost reduction measures, we expect significant margin
erosion given the substantial decline in revenues we forecast for
2014."

The outlook is stable.  Though S&P expects credit metrics to
continue to deteriorate throughout 2014, it believes Weight
Watchers will continue to generate good free cash flow, which will
support the company's continued investment in the business and may
be used to repay debt.


WOUND MANAGEMENT: Darren Stine Named Chief Financial Officer
------------------------------------------------------------
Darren Stine, 43, has been appointed chief financial officer of
Wound Management Technologies, Inc., effective as of March 17,
2014.  Mr. Stine brings more than 20 years of experience
developing, managing, and leading finance and accounting functions
for companies.  In addition to holding senior management positions
at EcoProduct Solutions (April 2007 through March 2008), and
Country Fresh (March 2008 through November 2008), Mr. Stine owned
and operated his own tax and accounting consulting firm from
November of 2008 through September of 2010, and served as a senior
manager at CPA firm Cain, Watters and Associates from September of
2010 through October of 2013.

In conjunction Mr. Stine's appointment, the Company's Board of
Directors have approved a restricted grant to Mr. Stine of 500
shares of the Company's Series D Convertible Preferred Stock,
which shares will vest in three equal installments on the first,
second, and third anniversaries of the date of grant.

                       About Wound Management

Fort Worth, Texas-based Wound Management Technologies, Inc.,
markets and sells the patented CellerateRX(R) product in the
expanding advanced wound care market; particularly with respect to
diabetic wound applications.

Wound Management disclosed a net loss of $1.84 million on $1.17
million of revenue for the year ended Dec. 31, 2012, as compared
with a net loss of $12.74 million on $2.21 million of revenue
during the prior year.  The Company's balance sheet at Sept. 30,
2013, showed $1.18 million in total assets, $6.66 million in total
liabilities and a $5.48 million total stockholders' deficit.

Pritchett, Siler & Hardy, P.C., in Salt Lake City, Utah, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company has incurred substantial losses
and has a working capital deficit which factors raise substantial
doubt about the ability of the Company to continue as a going
concern.


YOSHI'S SAN FRANCISCO: Files Schedules of Assets and Liabilities
----------------------------------------------------------------
Yoshi's San Francisco LLC filed with the U.S. Bankruptcy Court for
the Northern District of California its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property              $457,518
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $1,426,241
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $802,353
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                       $11,393,220
                                 -----------      -----------
        Total                       $457,518      $13,621,814

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

                     About Yoshi's San Francisco

An involuntary Chapter 11 bankruptcy petition (Bankr. N.D. Calif.
Case No. 12-49432) was filed on Nov. 28, 2012, against Yoshi's San
Francisco, aka Yoshi's San Francisco LLC, an upscale nightclub,
music venue, and Japanese restaurant located in Oakland.  The
alleged creditors are Yoshi's Japanese Restaurant, allegedly owed
$1.28 million; Apex Refrigeration Corp., owed $504; and East Bay
Restaurant Supply Inc., owed $2,707.

Judge Roger L. Efremsky oversees the case, taking over from Judge
M. Elaine Hammond.  Scott H. McNutt, Esq., and Shane J. Moses,
Esq., at McNutt Law Group, represent the Debtor as counsel.  YSF
opened its doors in December 2007.  The project was part of a
partnership involving the City and County of San Francisco and a
real estate developer, Fillmore Development Commercial, LLC.  YSF
is a California limited liability company with two members, both
of which are corporate entities.  The majority member is Yoshi's
Fillmore, LLC, of which Yoshi's Japanese Restaurant in Oakland is
the principal member and manager.  The minority member is Fillmore
Jazz Club, LLC, a group of investors managed by Michael Johnson,
who also manages the developer, FDC.

There is a provision in the YSF operating agreement that requires
unanimous agreement to take certain actions that have a permanent
effect on the company such as the filing of a voluntary Chapter 11
restructuring.  This predictably led to acrimony and gridlock, and
prevented YSF management from taking what it believed were the
those actions necessary in the face of the company's continued
financial situation.

On Oct. 29, 2012, FDC filed a lawsuit in state court seeking
appointment of a receiver to take over control of YSF.  YSF
recognized that this would be ultimately unproductive, because
it would be highly disruptive and potentially lead to loss of the
Yoshi's name, as well as the manager who has been the driving
force behind Yoshi's for 40 years.

YSF determined that the only option to allow the continued
operation of Yoshi's and protect the interests of all creditors
was for creditors of Yoshi's to file an involuntary bankruptcy
petition against YSF.

Fillmore is represented by Sara L. Chenetz, Esq., at Blank Rome
LLP.


YOSHI'S SAN FRANCISCO: Files List of 20 Top Unsecured Creditors
---------------------------------------------------------------
Yoshi's San Francisco LLC filed with the U.S. Bankruptcy Court
for the Northern District of California a list of creditors
holding 20 largest unsecured claims, disclosing:

   Name of Creditor            Nature of Claim   Amount of Claim
   ----------------            ---------------   ---------------
San Francisco Redevelopment          Loan          $7,492,500
Agency
One South Van Ness
San Francisco CA 94103

SN Fillmore LLC                      Loan          $2,530,000
Apt 37C
San Francisco CA 94105

Small Business                       Loan            $412,016
Administration c/o Key Bank
11051 Outlook St.
Overland Park KA 66211

Fillmore Development              Unpaid Rent        $406,068
Commercial, LLC
457 Tenth St.
San Francisco CA 94103

California Bank & Trust                              $489,676
Suite 110
Sacramento CA 95833

San Francisco Tax Collector       Unpaid Taxes       $232,698

Fillmore Development                 UPP Tax         $142,000

Fillmore Center HOA                  HOA Fees        $134,358

Franchise Tax Board               Unpaid Taxes        $29,137

Mark Ong                       Goods and Services     $26,497

Studio Instrument Rentals      Goods and Services     $21,850

VegiWorks, Inc.                Goods and Services     $16,621

Everest Insurance Co.          Goods and Services     $13,473

East Bay Restaurant Supply     Goods and Services      $9,011

WebSight Design                Goods and Services      $7,718

DiningOut San Francisco        Goods and Services      $6,000

US Food Service Inc.           Goods and Services      $5,838

RW SMITH                       Goods and Services      $5,629

ALSCO                          Goods and Services      $4,368

Wine Warehouse                 Goods and Services      $4,071

                     About Yoshi's San Francisco

An involuntary Chapter 11 bankruptcy petition (Bankr. N.D. Calif.
Case No. 12-49432) was filed on Nov. 28, 2012, against Yoshi's San
Francisco, aka Yoshi's San Francisco LLC, an upscale nightclub,
music venue, and Japanese restaurant located in Oakland.  The
alleged creditors are Yoshi's Japanese Restaurant, allegedly owed
$1.28 million; Apex Refrigeration Corp., owed $504; and East Bay
Restaurant Supply Inc., owed $2,707.

Judge Roger L. Efremsky oversees the case, taking over from Judge
M. Elaine Hammond.  Scott H. McNutt, Esq., and Shane J. Moses,
Esq., at McNutt Law Group, represent the Debtor as counsel.  YSF
opened its doors in December 2007.  The project was part of a
partnership involving the City and County of San Francisco and a
real estate developer, Fillmore Development Commercial, LLC.  YSF
is a California limited liability company with two members, both
of which are corporate entities.  The majority member is Yoshi's
Fillmore, LLC, of which Yoshi's Japanese Restaurant in Oakland is
the principal member and manager.  The minority member is Fillmore
Jazz Club, LLC, a group of investors managed by Michael Johnson,
who also manages the developer, FDC.

There is a provision in the YSF operating agreement that requires
unanimous agreement to take certain actions that have a permanent
effect on the company such as the filing of a voluntary Chapter 11
restructuring.  This predictably led to acrimony and gridlock, and
prevented YSF management from taking what it believed were the
those actions necessary in the face of the company's continued
financial situation.

On Oct. 29, 2012, FDC filed a lawsuit in state court seeking
appointment of a receiver to take over control of YSF.  YSF
recognized that this would be ultimately unproductive, because
it would be highly disruptive and potentially lead to loss of the
Yoshi's name, as well as the manager who has been the driving
force behind Yoshi's for 40 years.

YSF determined that the only option to allow the continued
operation of Yoshi's and protect the interests of all creditors
was for creditors of Yoshi's to file an involuntary bankruptcy
petition against YSF.

Fillmore is represented by Sara L. Chenetz, Esq., at Blank Rome
LLP.


YOSHI'S SAN FRANCISCO: Drops Bid to Pay Critical Vendors Claims
---------------------------------------------------------------
Scott H. McNutt, Esq., at McNutt Law Group LLP, on behalf of
Yoshi's San Francisco, LLC, notified the Bankruptcy Court of the
withdrawal of these documents which were filed on March 10, 2014:

   1) motion for authorization to pay critical vendors and
      503(b)(9) claims; and

   2) declaration of Kaz Kajimura in support of motion on
      critical vendors and 503(b)(9) claims.

The reason for withdrawal was not stated.

Mr. McNutt also requested that the continued hearing on the
motion, scheduled for March 26, be removed from the Court's
calendar.

Previously, the Debtor requested that the Court authorized the
Debtor to pay certain pre-bankruptcy liabilities to vendors that
are critical to the business operations of the Debtor or are
entitled to payment as administrative claimants.

As an operating restaurant and club, Yoshi's relies on a steady
and reliable supply of food and beverages.  Any interruption in
service would cause both an immediate loss of revenue and serious
reputational damage.

In addition to food and beverage and advertising, there are a
small number of other vendors of essential supplies and services
that are critical to Yoshi's business.  These include essential
health and safety vendors, such as armored car service for the
significant amounts of cash Yoshi's handles, security, and the
employee health reimbursement provider.  They also include other
essentials such as janitorial.

In a separate filing, the Debtor also withdrew the motion to
employ GCE Group LLC as restructuring consultant which was filed
March 12.

                     About Yoshi's San Francisco

An involuntary Chapter 11 bankruptcy petition (Bankr. N.D. Calif.
Case No. 12-49432) was filed on Nov. 28, 2012, against Yoshi's San
Francisco, aka Yoshi's San Francisco LLC, an upscale nightclub,
music venue, and Japanese restaurant located in Oakland.  The
alleged creditors are Yoshi's Japanese Restaurant, allegedly owed
$1.28 million; Apex Refrigeration Corp., owed $504; and East Bay
Restaurant Supply Inc., owed $2,707.

Judge Roger L. Efremsky oversees the case, taking over from Judge
M. Elaine Hammond.  Scott H. McNutt, Esq., and Shane J. Moses,
Esq., at McNutt Law Group, represent the Debtor as counsel.  YSF
opened its doors in December 2007.  The project was part of a
partnership involving the City and County of San Francisco and a
real estate developer, Fillmore Development Commercial, LLC.  YSF
is a California limited liability company with two members, both
of which are corporate entities.  The majority member is Yoshi's
Fillmore, LLC, of which Yoshi's Japanese Restaurant in Oakland is
the principal member and manager.  The minority member is Fillmore
Jazz Club, LLC, a group of investors managed by Michael Johnson,
who also manages the developer, FDC.

There is a provision in the YSF operating agreement that requires
unanimous agreement to take certain actions that have a permanent
effect on the company such as the filing of a voluntary Chapter 11
restructuring.  This predictably led to acrimony and gridlock, and
prevented YSF management from taking what it believed were the
those actions necessary in the face of the company's continued
financial situation.

On Oct. 29, 2012, FDC filed a lawsuit in state court seeking
appointment of a receiver to take over control of YSF.  YSF
recognized that this would be ultimately unproductive, because
it would be highly disruptive and potentially lead to loss of the
Yoshi's name, as well as the manager who has been the driving
force behind Yoshi's for 40 years.

YSF determined that the only option to allow the continued
operation of Yoshi's and protect the interests of all creditors
was for creditors of Yoshi's to file an involuntary bankruptcy
petition against YSF.

Fillmore is represented by Sara L. Chenetz, Esq., at Blank Rome
LLP.


* MoFo's Garry Lee Named American Lawyer "Dealmaker of the Year"
----------------------------------------------------------------
Gary Lee, a partner in Morrison & Foerster's New York office, has
been named one of The American Lawyer's "Dealmakers of the Year"
for guiding leading mortgage company Residential Capital LLC
through bankruptcy.

Lee, co-chair of the Global Business Restructuring & Insolvency
Group and Finance Department, was one of those credited by U.S.
Bankruptcy Judge Martin Glenn, who approved the terms of the
ResCap's chapter 11 plan, with shepherding all sides through to a
settlement that "reflected creative solutions to seemingly
intractable problems."  Judge Glenn has called the ResCap case the
most complex that he has seen in his many years on the bench and
in private practice.

ResCap was the nation's fifth-largest mortgage servicer before its
chapter 11 filing, which was largest case filed in 2012.  The MoFo
team was able to keep ResCap's core businesses of originating and
servicing mortgages to continue operating while the company was in
bankruptcy.  This was the first time that a financial services
company was ever able to remain in business through chapter 11 and
be sold as a going concern.

Adopting a novel strategy based on a smaller and little-known
bankruptcy case as precedent, the MoFo team worked with investors
in ResCap's residential mortgage-backed securities (RMBS) to let
the judge bifurcate ResCap's mortgage holdings, which resulted in
the sales process that yielded $4.5 billion.

ResCap's chief business officer Tammy Hamzehpour praised Lee's
creativity in keeping the process moving through an intense period
of regulatory pressures, complex negotiations, court orders and
more than two dozen written opinions.  "He always had this ability
to think steps ahead in the case," she said.

Larren Nashelsky, chair of Morrison & Foerster, said, "Gary is an
outstanding lawyer who once again proved his creativity and
brilliance in one of the most complex bankruptcy cases in history.
Clients know that when they turn to him they have counsel who not
only knows the law but knows how to deal with all the parties in a
restructuring -- a peerless trait when creditors are all
scrambling to try to recover what they can.  Gary's handling of
ResCap deservedly earned kudos from Judge Glenn and most of the
other parties involved in the case for creating a framework for
and causing the parties to reach fair settlement.  We're proud of
his work."

Morrison & Foerster was named Chambers USA's "Bankruptcy Firm of
the Year," in light of the Global Business Restructuring &
Insolvency Group's role in a number of recent high-profile
matters.  These matters include the representation of the
chapter 11 trustee for MF Global in the largest chapter 11 case
filed in 2011, the creditors' committee in the chapter 11 case of
the Los Angeles Dodgers, and the creditors' committee in the
chapter 11 case of Ambac Financial Group.  Morrison & Foerster
also played a significant role in Iceland's bank restructurings
through its representation of the Resolution Committee and
Winding-up Board of Landsbanki Islands hf.

                            About MoFo

Morrison & Foerster is a global firm with clients including some
of the largest financial institutions, investment banks, Fortune
100, technology and life science companies.  The firm has been
included on The American Lawyer's A-List for 10 straight years,
Chambers Global named MoFo its 2013 "USA Law Firm of the Year,"
and in light of the Business Restructuring & Insolvency Group 's
success Chambers USAnamed MoFo its "Bankruptcy Firm of the Year."


* Weil Adds Andrew Wilkinson to European Restructuring Practice
---------------------------------------------------------------
International law firm, Weil, Gotshal & Manges, on April 7
announced that Andrew Wilkinson, Esq. -- andrew.wilkinson@weil.com
-- will join its London office as a partner to play a senior role
in leading the next stage of growth for the European Restructuring
practice.

Andrew joins from Goldman Sachs where he has spent seven years,
more recently as European Head and co-Head of Restructuring. He
previously established the restructuring team at Clifford Chance
before joining Cadwalader, Wickersham & Taft in 1997, where he was
London Managing Partner and Head of European Restructuring.

Andrew has played a significant role in each of the major
restructuring cycles over the past 25 years as a lawyer and
banker, acting on significant public and private company deals,
representing debtors on major restructurings, working on
securitisations and structured deals, financial institution
restructurings and insolvencies and advising government bodies and
financial institutions. As a lawyer, Andrew pioneered the use of
schemes of arrangement for restructuring European transactions. He
is a visiting professor at UCL where he teaches a restructuring
law course.

Weil Executive Partner, Barry Wolf, Esq. -- barry.wolf@weil.com --
said, "It is testament to the quality of our restructuring
practice that someone of Andrew's calibre has chosen to join Weil.
This is a fantastic hire which adds to the strength and depth of
our global restructuring practice."

Weil London managing partner, Mike Francies, Esq. --
michael.francies@weil.com -- said, "Andrew's arrival will enable
us to continue to build on the excellent work of Adam Plainer and
his team in London. His skills as both a lawyer and a banker will
be instrumental to the further development of our elite
restructuring practice."

Adam Plainer, Esq. -- adam.plainer@weil.com -- Head of the Weil
Restructuring practice in London added, "We are delighted that
Andrew will be joining us. He will add an extra dimension to the
offering we make to a wide range of clients across the full
restructuring and insolvency spectrum."

Weil is recognised as a top tier global restructuring firm, and in
the past four years, the London restructuring practice has evolved
to its present position among the "Restructuring Elite" by
Chambers. Across Europe, the team has acted on some of the highest
profile mandates in the market including ongoing restructuring
work for Lehman Brothers, Pfleiderer's cross-border financial
restructuring, on the multi-layered insolvency proceedings of
Petroplus, on the EUR2 billion debt restructuring of Mediannuaire,
which owns PagesJaunes, and also working alongside KPMG as Special
Administrators in the ground-breaking and "historic" case of MF
Global UK's special administration for which the London team was
recently awarded "Restructuring Team of the Year" at the 2014
Legal Business Awards.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                             Total
                                            Share-     Total
                                  Total   Holders'   Working
                                 Assets     Equity   Capital
  Company          Ticker          ($MM)      ($MM)     ($MM)
  -------          ------        ------   --------   -------
ABSOLUTE SOFTWRE   ABT CN         142.1      (11.2)     (6.3)
ABSOLUTE SOFTWRE   OU1 TH         142.1      (11.2)     (6.3)
ABSOLUTE SOFTWRE   OU1 GR         142.1      (11.2)     (6.3)
ABSOLUTE SOFTWRE   ALSWF US       142.1      (11.2)     (6.3)
ACHAOGEN INC       AKAO US         13.8       (0.0)      2.1
ADVANCED EMISSIO   ADES US        106.4      (46.1)    (15.3)
ADVANCED EMISSIO   OXQ1 GR        106.4      (46.1)    (15.3)
ADVENT SOFTWARE    ADVS US        456.3     (111.8)   (106.0)
ADVENT SOFTWARE    AXQ GR         456.3     (111.8)   (106.0)
AERIE PHARMACEUT   0P0 GR           7.2      (22.4)    (11.0)
AERIE PHARMACEUT   AERI US          7.2      (22.4)    (11.0)
AEROHIVE NETWORK   HIVE US         69.9       (3.3)     21.5
AEROHIVE NETWORK   2NW GR          69.9       (3.3)     21.5
AIR CANADA-CL A    AIDIF US     9,470.0   (1,397.0)     98.0
AIR CANADA-CL A    AC/A CN      9,470.0   (1,397.0)     98.0
AIR CANADA-CL A    ADH TH       9,470.0   (1,397.0)     98.0
AIR CANADA-CL A    ADH GR       9,470.0   (1,397.0)     98.0
AIR CANADA-CL B    AIDEF US     9,470.0   (1,397.0)     98.0
AIR CANADA-CL B    AC/B CN      9,470.0   (1,397.0)     98.0
AIR CANADA-CL B    ADH1 GR      9,470.0   (1,397.0)     98.0
AIR CANADA-CL B    ADH1 TH      9,470.0   (1,397.0)     98.0
ALIMERA SCIENCES   ASZ TH          19.6       (4.9)     13.7
ALIMERA SCIENCES   ALIM US         19.6       (4.9)     13.7
ALIMERA SCIENCES   ASZ GR          19.6       (4.9)     13.7
ALLIANCE HEALTHC   AIQ US         515.6     (131.4)     61.3
AMC NETWORKS-A     AMCX US      2,636.7     (571.3)    889.9
AMC NETWORKS-A     9AC GR       2,636.7     (571.3)    889.9
AMER RESTAUR-LP    ICTPU US        33.5       (4.0)     (6.2)
AMERICAN AIRLINE   A1G TH      42,278.0   (2,731.0)    517.0
AMERICAN AIRLINE   A1G GR      42,278.0   (2,731.0)    517.0
AMERICAN AIRLINE   AAL* MM     42,278.0   (2,731.0)    517.0
AMERICAN AIRLINE   AAL US      42,278.0   (2,731.0)    517.0
AMR CORP           ACP GR      42,278.0   (2,731.0)    517.0
AMYLIN PHARMACEU   AMLN US      1,998.7      (42.4)    263.0
AMYRIS INC         AMRS US        198.9     (135.8)     (0.4)
AMYRIS INC         3A0 GR         198.9     (135.8)     (0.4)
AMYRIS INC         3A0 TH         198.9     (135.8)     (0.4)
ANGIE'S LIST INC   ANGI US        105.6      (18.5)    (21.7)
ANGIE'S LIST INC   8AL GR         105.6      (18.5)    (21.7)
ARRAY BIOPHARMA    AR2 GR         146.3       (5.4)     90.2
ARRAY BIOPHARMA    ARRY US        146.3       (5.4)     90.2
ARRAY BIOPHARMA    AR2 TH         146.3       (5.4)     90.2
ATLATSA RESOURCE   ATL SJ         768.5      (14.1)     30.2
AUTOZONE INC       AZ5 TH       7,262.9   (1,710.3)   (860.8)
AUTOZONE INC       AZO US       7,262.9   (1,710.3)   (860.8)
AUTOZONE INC       AZ5 GR       7,262.9   (1,710.3)   (860.8)
BARRACUDA NETWOR   CUDA US        236.2      (90.1)    (66.5)
BARRACUDA NETWOR   7BM GR         236.2      (90.1)    (66.5)
BERRY PLASTICS G   BP0 GR       5,264.0     (183.0)    681.0
BERRY PLASTICS G   BERY US      5,264.0     (183.0)    681.0
BIOCRYST PHARM     BO1 TH          48.9       (1.1)     26.9
BIOCRYST PHARM     BO1 GR          48.9       (1.1)     26.9
BIOCRYST PHARM     BCRX US         48.9       (1.1)     26.9
BRP INC/CA-SUB V   B15A GR      1,875.1      (63.7)    116.5
BRP INC/CA-SUB V   DOO CN       1,875.1      (63.7)    116.5
BRP INC/CA-SUB V   BRPIF US     1,875.1      (63.7)    116.5
BURLINGTON STORE   BURL US      2,621.1     (150.5)    112.7
BURLINGTON STORE   BUI GR       2,621.1     (150.5)    112.7
CABLEVISION SY-A   CVY GR       6,591.1   (5,274.3)    283.4
CABLEVISION SY-A   CVC US       6,591.1   (5,274.3)    283.4
CAESARS ENTERTAI   C08 GR      24,688.9   (1,903.8)  1,239.5
CAESARS ENTERTAI   CZR US      24,688.9   (1,903.8)  1,239.5
CANNAVEST CORP     0VE GR          10.7       (0.2)     (1.3)
CANNAVEST CORP     CANV US         10.7       (0.2)     (1.3)
CAPMARK FINANCIA   CPMK US     20,085.1     (933.1)      -
CC MEDIA-A         CCMO US     15,097.3   (8,696.6)    753.7
CELLADON CORP      CLDN US         24.6      (44.3)     20.1
CENTENNIAL COMM    CYCL US      1,480.9     (925.9)    (52.1)
CHOICE HOTELS      CZH GR         539.9     (464.2)     84.3
CHOICE HOTELS      CHH US         539.9     (464.2)     84.3
CIENA CORP         CIE1 GR      1,800.6      (86.9)    800.8
CIENA CORP         CIEN US      1,800.6      (86.9)    800.8
CIENA CORP         CIEN TE      1,800.6      (86.9)    800.8
CIENA CORP         CIE1 TH      1,800.6      (86.9)    800.8
CINCINNATI BELL    CBB US       2,107.3     (676.7)     (3.2)
DEX MEDIA INC      DXM US       3,358.0     (142.0)    332.0
DIRECTV            DTV CI      21,905.0   (6,169.0)   (577.0)
DIRECTV            DTV US      21,905.0   (6,169.0)   (577.0)
DIRECTV            DIG1 GR     21,905.0   (6,169.0)   (577.0)
DOMINO'S PIZZA     EZV GR         525.3   (1,290.2)     96.9
DOMINO'S PIZZA     DPZ US         525.3   (1,290.2)     96.9
DOMINO'S PIZZA     EZV TH         525.3   (1,290.2)     96.9
DUN & BRADSTREET   DNB US       1,890.3   (1,042.3)    (29.9)
DUN & BRADSTREET   DB5 GR       1,890.3   (1,042.3)    (29.9)
DUN & BRADSTREET   DB5 TH       1,890.3   (1,042.3)    (29.9)
EASTMAN KODAK CO   KODK US      3,815.0   (3,153.0)   (785.0)
EASTMAN KODAK CO   KODN GR      3,815.0   (3,153.0)   (785.0)
EDGEN GROUP INC    EDG US         883.8       (0.8)    409.2
EGALET CORP        EGLT US         14.4       (1.5)     (3.1)
ELEVEN BIOTHERAP   EBIO US          5.1       (6.1)     (2.9)
EMPIRE STATE -ES   ESBA US      1,122.2      (31.6)   (925.9)
EMPIRE STATE-S60   OGCP US      1,122.2      (31.6)   (925.9)
ENDURANCE INTERN   EIGI US      1,519.2      (20.5)   (180.2)
ENDURANCE INTERN   EI0 GR       1,519.2      (20.5)   (180.2)
ENTRAVISION CO-A   EVC US         448.7       (5.5)     70.2
ENTRAVISION CO-A   EV9 GR         448.7       (5.5)     70.2
FAIRPOINT COMMUN   FRP US       1,599.9     (309.2)     34.3
FATE THERAPEUTIC   FATE US         23.0       (9.9)      9.9
FERRELLGAS-LP      FGP US       1,620.8     (101.2)     20.0
FERRELLGAS-LP      FEG GR       1,620.8     (101.2)     20.0
FIVE9 INC          FIVN US         56.3       (3.0)      1.1
FREESCALE SEMICO   1FS TH       3,047.0   (4,594.0)  1,133.0
FREESCALE SEMICO   FSL US       3,047.0   (4,594.0)  1,133.0
FREESCALE SEMICO   1FS GR       3,047.0   (4,594.0)  1,133.0
GENTIVA HEALTH     GTIV US      1,262.6     (300.2)     94.3
GENTIVA HEALTH     GHT GR       1,262.6     (300.2)     94.3
GLG PARTNERS INC   GLG US         400.0     (285.6)    156.9
GLG PARTNERS-UTS   GLG/U US       400.0     (285.6)    156.9
GLOBAL BRASS & C   BRSS US        592.5       (8.9)    307.1
GLOBAL BRASS & C   6GB GR         592.5       (8.9)    307.1
GRAHAM PACKAGING   GRM US       2,947.5     (520.8)    298.5
HALOZYME THERAPE   HALO US        101.8      (20.0)     69.7
HALOZYME THERAPE   HALOZ GR       101.8      (20.0)     69.7
HCA HOLDINGS INC   2BH GR      28,831.0   (6,928.0)  2,342.0
HCA HOLDINGS INC   2BH TH      28,831.0   (6,928.0)  2,342.0
HCA HOLDINGS INC   HCA US      28,831.0   (6,928.0)  2,342.0
HORIZON PHARMA I   HZNP US        252.6      (49.1)     67.5
HORIZON PHARMA I   HPM TH         252.6      (49.1)     67.5
HORIZON PHARMA I   HPM GR         252.6      (49.1)     67.5
HOVNANIAN ENT-A    HOV US       1,787.3     (456.1)  1,131.9
HOVNANIAN ENT-A    HO3 GR       1,787.3     (456.1)  1,131.9
HOVNANIAN ENT-B    HOVVB US     1,787.3     (456.1)  1,131.9
HOVNANIAN-A-WI     HOV-W US     1,787.3     (456.1)  1,131.9
HUGHES TELEMATIC   HUTCU US       110.2     (101.6)   (113.8)
HUGHES TELEMATIC   HUTC US        110.2     (101.6)   (113.8)
INCYTE CORP        ICY TH         629.6     (193.1)    447.8
INCYTE CORP        INCY US        629.6     (193.1)    447.8
INCYTE CORP        ICY GR         629.6     (193.1)    447.8
INFOR US INC       LWSN US      6,515.2     (555.7)   (303.6)
IPCS INC           IPCS US        559.2      (33.0)     72.1
ISTA PHARMACEUTI   ISTA US        124.7      (64.8)      2.2
JUST ENERGY GROU   JE US        1,543.7     (199.3)    (12.4)
JUST ENERGY GROU   JE CN        1,543.7     (199.3)    (12.4)
JUST ENERGY GROU   1JE GR       1,543.7     (199.3)    (12.4)
KATE SPADE & CO    KATE US        977.5      (32.5)    206.5
KATE SPADE & CO    LIZ GR         977.5      (32.5)    206.5
L BRANDS INC       LTD TH       7,198.0     (369.0)  1,324.0
L BRANDS INC       LTD GR       7,198.0     (369.0)  1,324.0
L BRANDS INC       LB US        7,198.0     (369.0)  1,324.0
LDR HOLDING CORP   LDRH US         77.7       (7.2)     10.3
LEAP WIRELESS      LWI TH       4,662.9     (125.1)    346.9
LEAP WIRELESS      LEAP US      4,662.9     (125.1)    346.9
LEAP WIRELESS      LWI GR       4,662.9     (125.1)    346.9
LEE ENTERPRISES    LE7 GR         820.2     (157.4)      9.9
LEE ENTERPRISES    LEE US         820.2     (157.4)      9.9
LORILLARD INC      LLV GR       3,536.0   (2,064.0)  1,085.0
LORILLARD INC      LLV TH       3,536.0   (2,064.0)  1,085.0
LORILLARD INC      LO US        3,536.0   (2,064.0)  1,085.0
MACROGENICS INC    MGNX US         42.0       (4.0)     11.7
MACROGENICS INC    M55 GR          42.0       (4.0)     11.7
MALIBU BOATS-A     M05 GR          57.2      (32.5)     (2.0)
MALIBU BOATS-A     MBUU US         57.2      (32.5)     (2.0)
MANNKIND CORP      MNKD US        258.6      (30.7)    (51.5)
MANNKIND CORP      NNF1 TH        258.6      (30.7)    (51.5)
MANNKIND CORP      NNF1 GR        258.6      (30.7)    (51.5)
MARRIOTT INTL-A    MAQ GR       6,794.0   (1,415.0)   (772.0)
MARRIOTT INTL-A    MAQ TH       6,794.0   (1,415.0)   (772.0)
MARRIOTT INTL-A    MAR US       6,794.0   (1,415.0)   (772.0)
MAUI LAND & PINE   MLP US          56.7      (36.0)    (54.8)
MDC PARTNERS-A     MDCA US      1,425.2     (128.1)   (189.8)
MDC PARTNERS-A     MD7A GR      1,425.2     (128.1)   (189.8)
MDC PARTNERS-A     MDZ/A CN     1,425.2     (128.1)   (189.8)
MERITOR INC        MTOR US      2,497.0     (808.0)    337.0
MERITOR INC        AID1 GR      2,497.0     (808.0)    337.0
MERRIMACK PHARMA   MACK US        192.4      (43.1)    108.9
MERRIMACK PHARMA   MP6 GR         192.4      (43.1)    108.9
MIRATI THERAPEUT   26M GR          18.5      (24.3)    (25.3)
MIRATI THERAPEUT   MRTX US         18.5      (24.3)    (25.3)
MONEYGRAM INTERN   MGI US       4,786.9      (77.0)     85.2
MORGANS HOTEL GR   MHGC US        572.8     (172.9)      6.5
MORGANS HOTEL GR   M1U GR         572.8     (172.9)      6.5
MOUNTAIN HIGH AC   MYHI US          0.0       (0.0)      0.0
MPG OFFICE TRUST   MPG US       1,280.0     (437.3)      -
NATIONAL CINEMED   NCMI US      1,067.3     (146.1)    134.0
NATIONAL CINEMED   XWM GR       1,067.3     (146.1)    134.0
NAVISTAR INTL      NAV US       7,654.0   (3,877.0)    645.0
NAVISTAR INTL      IHR GR       7,654.0   (3,877.0)    645.0
NAVISTAR INTL      IHR TH       7,654.0   (3,877.0)    645.0
NEKTAR THERAPEUT   ITH GR         434.5      (89.9)    159.7
NEKTAR THERAPEUT   NKTR US        434.5      (89.9)    159.7
NEXSTAR BROADC-A   NXST US      1,163.7      (13.2)    117.2
NEXSTAR BROADC-A   NXZ GR       1,163.7      (13.2)    117.2
NORCRAFT COS INC   NCFT US        265.0       (6.1)     47.7
NORCRAFT COS INC   6NC GR         265.0       (6.1)     47.7
NORTHWEST BIO      NWBO US          7.6      (14.3)     (9.7)
NORTHWEST BIO      NBYA GR          7.6      (14.3)     (9.7)
NYMOX PHARMACEUT   NYMX US          1.1       (5.9)     (2.3)
OCI PARTNERS LP    OP0 GR         460.3      (98.7)     79.8
OCI PARTNERS LP    OCIP US        460.3      (98.7)     79.8
OMEROS CORP        OMER US         16.5      (18.4)      2.9
OMEROS CORP        3O8 GR          16.5      (18.4)      2.9
OMTHERA PHARMACE   OMTH US         18.3       (8.5)    (12.0)
OPOWER INC         OPWR US         63.1       (6.3)    (11.9)
PALM INC           PALM US      1,007.2       (6.2)    141.7
PHILIP MORRIS IN   4I1 TH      38,168.0   (6,274.0)   (214.0)
PHILIP MORRIS IN   4I1 GR      38,168.0   (6,274.0)   (214.0)
PHILIP MORRIS IN   PM US       38,168.0   (6,274.0)   (214.0)
PHILIP MORRIS IN   PM FP       38,168.0   (6,274.0)   (214.0)
PHILIP MORRIS IN   PMI SW      38,168.0   (6,274.0)   (214.0)
PHILIP MORRIS IN   PM1EUR EU   38,168.0   (6,274.0)   (214.0)
PHILIP MORRIS IN   PM1 TE      38,168.0   (6,274.0)   (214.0)
PHILIP MORRIS IN   PM1CHF EU   38,168.0   (6,274.0)   (214.0)
PLAYBOY ENTERP-A   PLA/A US       165.8      (54.4)    (16.9)
PLAYBOY ENTERP-B   PLA US         165.8      (54.4)    (16.9)
PLUG POWER INC     PLUG US         35.4      (15.5)     11.1
PLUG POWER INC     PLUN GR         35.4      (15.5)     11.1
PLUG POWER INC     PLUN TH         35.4      (15.5)     11.1
PLY GEM HOLDINGS   PGEM US      1,042.3      (52.0)    175.8
PLY GEM HOLDINGS   PG6 GR       1,042.3      (52.0)    175.8
PROTALEX INC       PRTX US          1.2       (8.6)      0.6
PROTECTION ONE     PONE US        562.9      (61.8)     (7.6)
QUALITY DISTRIBU   QLTY US        427.2      (56.3)     88.8
QUALITY DISTRIBU   QDZ GR         427.2      (56.3)     88.8
QUINTILES TRANSN   QTS GR       3,066.8     (667.5)    463.4
QUINTILES TRANSN   Q US         3,066.8     (667.5)    463.4
RE/MAX HOLDINGS    2RM GR         252.0      (22.5)     39.1
RE/MAX HOLDINGS    RMAX US        252.0      (22.5)     39.1
REGAL ENTERTAI-A   RETA GR      2,704.7     (715.3)    (41.3)
REGAL ENTERTAI-A   RGC US       2,704.7     (715.3)    (41.3)
RENAISSANCE LEA    RLRN US         57.0      (28.2)    (31.4)
RENTPATH INC       PRM US         208.0      (91.7)      3.6
RETROPHIN INC      17R GR          21.4       (5.8)    (10.3)
RETROPHIN INC      RTRX US         21.4       (5.8)    (10.3)
REVANCE THERAPEU   RVNC US         18.9      (23.7)    (28.6)
REVANCE THERAPEU   RTI GR          18.9      (23.7)    (28.6)
REVLON INC-A       REV US       2,123.9     (596.5)    246.4
REVLON INC-A       RVL1 GR      2,123.9     (596.5)    246.4
RITE AID CORP      RAD US       7,138.2   (2,228.8)  1,881.2
RITE AID CORP      RTA GR       7,138.2   (2,228.8)  1,881.2
RURAL/METRO CORP   RURL US        303.7      (92.1)     72.4
SALLY BEAUTY HOL   SBH US       2,060.1     (291.2)    689.5
SALLY BEAUTY HOL   S7V GR       2,060.1     (291.2)    689.5
SILVER SPRING NE   SSNI US        516.4      (78.1)     95.5
SILVER SPRING NE   9SI GR         516.4      (78.1)     95.5
SILVER SPRING NE   9SI TH         516.4      (78.1)     95.5
SMART TECHNOL-A    SMT US         374.2      (29.4)     71.6
SMART TECHNOL-A    2SA TH         374.2      (29.4)     71.6
SMART TECHNOL-A    SMA CN         374.2      (29.4)     71.6
SMART TECHNOL-A    2SA GR         374.2      (29.4)     71.6
SUNESIS PHARMAC    SNSS US         40.5       (6.2)      6.5
SUNESIS PHARMAC    RYIN GR         40.5       (6.2)      6.5
SUNESIS PHARMAC    RYIN TH         40.5       (6.2)      6.5
SUNGAME CORP       SGMZ US          0.1       (2.2)     (2.3)
SUPERVALU INC      SJ1 GR       4,711.0     (983.0)    272.0
SUPERVALU INC      SVU* MM      4,711.0     (983.0)    272.0
SUPERVALU INC      SVU US       4,711.0     (983.0)    272.0
SUPERVALU INC      SJ1 TH       4,711.0     (983.0)    272.0
TANDEM DIABETES    TD5 GR          48.6       (2.8)     13.8
TANDEM DIABETES    TNDM US         48.6       (2.8)     13.8
TAUBMAN CENTERS    TCO US       3,506.2     (215.7)      -
TAUBMAN CENTERS    TU8 GR       3,506.2     (215.7)      -
THRESHOLD PHARMA   NZW1 GR        104.1      (23.5)     59.0
THRESHOLD PHARMA   THLD US        104.1      (23.5)     59.0
TRANSDIGM GROUP    T7D GR       6,292.5     (234.2)    882.4
TRANSDIGM GROUP    TDG US       6,292.5     (234.2)    882.4
TRINET GROUP INC   TN3 GR       1,434.7     (270.4)     65.1
TRINET GROUP INC   TNET US      1,434.7     (270.4)     65.1
ULTRA PETROLEUM    UPL US       2,785.3     (331.5)   (278.8)
ULTRA PETROLEUM    UPM GR       2,785.3     (331.5)   (278.8)
UNISYS CORP        USY1 GR      2,510.0     (663.9)    516.0
UNISYS CORP        UISEUR EU    2,510.0     (663.9)    516.0
UNISYS CORP        UISCHF EU    2,510.0     (663.9)    516.0
UNISYS CORP        USY1 TH      2,510.0     (663.9)    516.0
UNISYS CORP        UIS1 SW      2,510.0     (663.9)    516.0
UNISYS CORP        UIS US       2,510.0     (663.9)    516.0
VARONIS SYSTEMS    VRNS US         33.7       (1.5)      1.8
VARONIS SYSTEMS    VS2 GR          33.7       (1.5)      1.8
VECTOR GROUP LTD   VGR GR       1,260.2      (21.6)    183.3
VECTOR GROUP LTD   VGR US       1,260.2      (21.6)    183.3
VENOCO INC         VQ US          695.2     (258.7)    (39.2)
VERISIGN INC       VRS TH       2,660.8     (423.6)   (226.0)
VERISIGN INC       VRS GR       2,660.8     (423.6)   (226.0)
VERISIGN INC       VRSN US      2,660.8     (423.6)   (226.0)
VINCE HOLDING CO   VNCE US        470.3     (181.2)   (158.1)
VINCE HOLDING CO   VNC GR         470.3     (181.2)   (158.1)
VIRGIN MOBILE-A    VM US          307.4     (244.2)   (138.3)
VISKASE COS I      VKSC US        346.7      (16.3)    106.1
WEIGHT WATCHERS    WTW US       1,408.9   (1,474.6)    (30.1)
WEIGHT WATCHERS    WW6 GR       1,408.9   (1,474.6)    (30.1)
WEIGHT WATCHERS    WW6 TH       1,408.9   (1,474.6)    (30.1)
WEST CORP          WT2 GR       3,486.3     (740.2)    363.9
WEST CORP          WSTC US      3,486.3     (740.2)    363.9
WESTMORELAND COA   WLB US         939.8     (280.3)      4.1
WESTMORELAND COA   WME GR         939.8     (280.3)      4.1
XERIUM TECHNOLOG   XRM US         624.1      (11.4)    107.5
XERIUM TECHNOLOG   TXRN GR        624.1      (11.4)    107.5
XOMA CORP          XOMA TH        134.8       (4.0)     97.4
XOMA CORP          XOMA US        134.8       (4.0)     97.4
XOMA CORP          XOMA GR        134.8       (4.0)     97.4
YRC WORLDWIDE IN   YEL1 TH      2,064.9     (597.4)    213.3
YRC WORLDWIDE IN   YEL1 GR      2,064.9     (597.4)    213.3
YRC WORLDWIDE IN   YRCW US      2,064.9     (597.4)    213.3


                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com by e-mail.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to the nation's bankruptcy courts.  The
list includes links to freely downloadable of these small-dollar
petitions in Acrobat PDF documents.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Ivy B. Magdadaro, Carlo Fernandez,
Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2014.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-241-8200.


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