TCR_Public/140422.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 22, 2014, Vol. 18, No. 110

                            Headlines

22ND CENTURY: Plans to Offer $45 Million Worth of Securities
ADS TACTICAL: S&P Revises Outlook to Negative & Affirms 'B' CCR
AIR DISTRIBUTION: S&P Puts 'B' CCR on CreditWatch Positive
ALLEGIANT TRAVEL: S&P Withdraws 'BB-' CCR on Company's Request
ALLY FINANCIAL: Stephen Feinberg Stake at 8.6% as of April 9

ALLY FINANCIAL: Declares Dividends on Preferred Stock
ALMA ENERGY: Bankr. Lawyer Reprimanded for Unprofessional Conduct
ALPHA NATURAL: Bank Debt Trades at 3% Off
AMERICAN AIRLINES: Judge Says Co. Can't Cut Retiree Benefits
AMERIGO ENERGY: Reports Sales of $5.8 Million in First Quarter

ARCH COAL: Bank Debt Trades at 2% Off
ARCHDIOCESE OF CHICAGO: Sexual Abuse Suit Filed
ARI-RC 6: Gets Court's Nod to Use Cash Collateral Thru June 30
ARCTIC GLACIER: June 12 Claim Form Submission Deadline Set
ASHLEY STEWART: Asks for Approval of Employee Incentive Plan

BIOLIFE SOLUTIONS: Has 11.9 Million Outstanding Common Shares
BOSTON BIOMEDICAL: S&P Assigns Default Rating on 1999 Bonds
BRUSH CREEK AIRPORT: Files List of 16 Unsecured Creditors
BRUSH CREEK AIRPORT: Ch. 11 Case Reassigned to Judge Romero
BRUSH CREEK AIRPORT: Employs Sender Wasserman as Counsel

CAESARS ENTERTAINMENT: Bank Debt Trades at 8% Off
CALIFORNIA PIZZA: S&P Lowers CCR to 'B-' & Revises Outlook to Neg.
CASH STORE: Obtains Court OK of $8.5 Million DIP Financing
CBM ASIA: Applies for Management Cease Trade Order
CELL THERAPEUTICS: DSM Fine to Supply Pacritinib Drug Substance

CHAMAX LLC: Tampa Property to Be Auctioned Off
CHINA NATURAL: Abax Entities Object to Exclusivity Extension Bid
CHINA NATURAL: Files Form 15 to Deregister Common Stock
COLDWATER CREEK: Has Interim Approval of $42-Mil. DIP Loan
COLDWATER CREEK: Taps Shearman & Sterling as Bankruptcy Counsel

COLDWATER CREEK: Employs Young Conaway as Local Delaware Counsel
COLDWATER CREEK: Can Employ Prime Clerk as Claims & Noticing Agent
COLERIDGE CORP: Amends Schedules of Assets and Liabilities
COPYTELE INC: Amends $30 Million Prospectus
DAUGHTERS OF CHARITY: S&P Lowers Bonds Rating to B-; Outlook Neg

DENBURY RESOURCES: S&P Affirms 'BB' Corp. Credit Rating
DUNE ENERGY: Zell Credit Stake at 6.4% as of April 15
DUTCH MINING: Placed Into Chapter 7 Bankruptcy
EMMIS COMMUNICATIONS: S&P Assigns 'B' CCR; Outlook Stable
ENDEAVOR ENERGY: S&P Lowers Sr. Unsecured Rating to 'B'

ENERGY FUTURE: Failure to File Form 10-K Triggers Default
F&H ACQUISITION: Has Until July 14 to Remove Civil Actions
F&H ACQUISITION: Has Until July 14 to Decide on Leases
F&H ACQUISITION: Court Okays Conditions to Continue Surety Bonds
FIRST DATA: Appoints H. Miller as Director; CFO to Quit

FIRST SECURITY: Signs Employment Agreements with Executives
FREDERICK'S OF HOLLYWOOD: TTG Apparel Holds 86.1% Equity Stake
FUSION TELECOMMUNICATIONS: Amends 2013 Annual Report
GENCO SHIPPING: Commences Prepackaged Chapter 11 in SDNY
GENCO SHIPPING: NYSE Trading Suspended Following Bankruptcy

GENCO SHIPPING: Case Summary & 40 Largest Unsecured Creditors
GENIUS BRANDS: Issues Letter to Shareholders
GRIDWAY ENERGY: Employs Patton Boggs as Lead Bankruptcy Counsel
GRIDWAY ENERGY: Taps Young Conaway as Local Delaware Counsel
GRIDWAY ENERGY: Hires RPA Advisors as Financial Consultants

GRIDWAY ENERGY: Employs Houlihan Lokey as Investment Banker
GYMBOREE CORP: Bank Debt Trades at 12% Off
H. B. NEWMAN: Case Summary & 16 Largest Unsecured Creditors
INTERFAITH MEDICAL: Committee Asserts Plan is Unconfirmable
INTERFAITH MEDICAL: PBGC Objects to Plan Outline Approval

IXIA: Has Until April 30 to Regain Nasdaq Listing Compliance
IZEA INC: Authorized Common Shares Hiked to 200 Million Shares
JAMES RIVER COAL: Unit Addresses Imminent Danger Order
KILIMANJARO RE: S&P Assigns Prelim. BB- Rating on 2 Note Classes
LIBERTY MEDICAL: Sues Medco Health Over 2012 Buyout

LKQ CORP: S&P Affirms 'BB+' Corp. Credit Rating
LOUDOUN HEIGHTS: Little Piney Seeks Dismissal of Case
LOUDOUN HEIGHTS: Files Amended Plan Disclosures
MACROSOLVE INC: CEO & President Quits, Interim Replacement Named
METRO AFFILIATES: Liquidation Plan Outline to be Heard on Apr 29

MICHAEL FOODS: S&P Puts 'B' CCR on CreditWatch Negative
MILESTONE SCIENTIFIC: Inks Investment Agreement with BP4
MOBILE MINI: S&P Raises CCR to 'BB'; Outlook Positive
MOBILESMITH INC: Sells Add'l $300,000 Convertible Note
MOMENTIVE PERFORMANCE: Obtained Waiver From ABL Lenders

MOTORCAR PARTS: Authorized Common Stock Hiked to 50 Million
MT. GOX: Tokyo Court Rejects Rehabilitation Bid
MT. GOX: U.S. Investor Says Creditors Support Buyout
NORTEL NETWORKS: Ex-Workers in Canada Seek to File Claims
OCEAN 4660: Files Plan Following Assets Sale

OPTIM ENERGY: Walnut Creek Seeks to Prosecute Claims v. Cascade
OPTIM ENERGY: Wants to Continue Management Deal With CPV
OPTIM ENERGY: Morris Nichols Approved as Delaware Co-Counsel
OPTIM ENERGY: Prime Clerk Approved as Administrative Agent
ORCKIT COMMUNICATIONS: Extraordinary Meeting Set on May 14

PACIFIC GAS: Pleads Not Guilty to Charges From San Bruno Explosion
PHIBRO ANIMAL: S&P Raises CCR to 'B+' & Removes Rating from Watch
PLATFORM SPECIALTY: S&P Puts 'B+' CCR on CreditWatch Positive
PLC SYSTEMS: Extends Third Closing Under 2011 Purchase Agreement
POST HOLDINGS: S&P Puts 'B' CCR on CreditWatch Negative

PRINTPACK HOLDINGS: S&P Assigns 'B' CCR; Outlook Stable
RADIAN GROUP: May 7 Conference Call Set to Discuss Q1 Results
REICHHOLD INDUSTRIES: S&P Lowers CCR to 'CCC'; Outlook Negative
ROCKET SOFTWARE: S&P Lowers CCR to 'B' on Dividend Recap
SALESFORCE.COM INC: S&P Withdraws 'BB' Corporate Credit Rating

SANUWAVE HEALTH: Kevin Richardson Appointed Co-CEO
SBARRO LLC: No Quick Exit; Plan Hearing Adjourned Sine Die
SBARRO LLC: Committee's Challenge Against Lenders Due June 9
SBARRO LLC: Files Statement of Financial Affairs
SCICOM DATA: May 20 Hearing on Confirmation of Liquidation Plan

SEANERGY MARITIME: Posts $10.9 Million Net Income in 2013
SEVERSTAL COLUMBUS: S&P Affirms Then Withdraws 'B' CCR
SIMPLEXITY LLC: Clearpath Balks at DIP Lien
SOLAR POWER: Appoints Lang Zhou as Director
SOUTH GOBI: Failure to Get Funding May Lead to Debenture Default

STAR DYNAMICS: Mulls Sale; Wins Exclusivity Extension
STAR DYNAMICS: Seeks More Time to Decide on Leases
STOCKTON PUBLIC: S&P Revises Outlook to Stable & Affirms 'B' SPUR
SUNRISE REAL ESTATE: Director Zhang Xi Resigns
SWJ MANAGEMENT: Chapter 11 Cases Going to Connecticut

TELEXFREE LLC: Says Former CFO Didn't Abscond
TELEXFREE LLC: Confident with Long-Term Business Prospects
UTSTARCOM HOLDINGS: Incurs $22.7 Million Net Loss in 2013
VERMILLION INC: To Declassify Board of Directors
WALTER ENERGY: Bank Debt Trades at 4% Off

* Gavin/Solmonese Bags Two Major Industry Awards for Oreck Sale
* HYPERAMS LLC Moves to New Location
* William Dolan Joins Donoghue Barrett & Singal as Partner

* Leonard Rosen of Wachtell Lipton Dies at Age 83

* Large Companies With Insolvent Balance Sheets


                             *********


22ND CENTURY: Plans to Offer $45 Million Worth of Securities
------------------------------------------------------------
22nd Century Group, Inc., disclosed in a regulatory filing with
the U.S. Securities and Exchange Commission that it may offer
up to $45 million of any combination of its securities.

The Company will provide specific terms of the securities,
including the offering prices, in one or more supplements to this
prospectus.

The Company's common stock is listed on the NYSE MKT under the
symbol "XXII."

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

                         http://is.gd/XFa4Mx

The Company separately registered with the SEC 5,000,000 shares of
common stock issuable under the Company's 2014 Omnibus Incentive
Plan for a proposed maximum aggregate offering price of
$12.7 million.  A copy of the Form S-8 prospectus is available at:

                        http://is.gd/EgXa6V

                         About 22nd Century

Clarence, New York-based 22nd Century Group, Inc., through its
wholly-owned subsidiary, 22nd Century Ltd, is a plant
biotechnology company using technology that allows for the level
of nicotine and other nicotinic alkaloids (e.g., nornicotine,
anatabine and anabasine) in tobacco plants to be decreased or
increased through genetic engineering and plant breeding.

22nd Century reported a net loss of $26.15 million in 2013, a net
loss of $6.73 million in 2012 and a net loss of $1.34 million in
2011.  As of Dec. 31, 2013, the Company had $12.28 million in
total assets, $4.76 million in total liabilities and $7.52 million
in total shareholders' equity.


ADS TACTICAL: S&P Revises Outlook to Negative & Affirms 'B' CCR
---------------------------------------------------------------
Standard & Poor's Ratings Services said it revised the rating
outlook on Virginia-based ADS Tactical Inc. to negative from
stable.  At the same time, S&P affirmed its ratings on the
company, including the 'B' corporate credit rating.

"The outlook revision reflects the potential that ADS' credit
metrics, which are now weak for the rating, do not show
improvement because of increasingly challenging operating
conditions," said Standard & Poor's credit analyst Chris
Mooney.  "Debt to EBITDA, which was 6.8x as of Dec. 31, 2013, is
currently above levels appropriate for the rating (5.5x-6.5x), but
we expect a combination of debt reduction and modestly higher
earnings to result in improvement over the next two to three
years."  However, S&P believes that uncertainty surrounds its
base-case forecast due to the U.S. government's recently announced
plans to reduce the size of the Army, combined with a competitive
pricing environment, which could result in lower earnings than S&P
currently projects.

The negative outlook reflects the potential that ADS' credit
metrics could fail to improve over time due to challenging
operating conditions.  However, S&P's base-case scenario
anticipates that debt to EBITDA will fall to 6.0x-6.5x in 2014
from 6.8x in 2013, mostly because of debt reduction, with further
improvement thereafter as earnings increase modestly.

S&P could lower the rating over the next year if debt to EBITDA
does not improve from current level or if it deteriorates.  This
would most likely result from lower earnings associated with
volume declines, stemming from the Department of Defense's budget
pressure, reduced EBITDA margins to win new business, or
unanticipated cost overruns.  Although less likely, this ratio
could also increase if debt rises to fund greater-than-expected
working capital usage.

S&P could revise the outlook to stable if the company is able to
improve debt to EBITDA to less than 6.5x in 2014, with
expectations for further improvement in the future.  This would
most likely occur due to a combination of debt reduction and
modest earnings growth as the company continues to penetrate new
opportunities and increase its market share.


AIR DISTRIBUTION: S&P Puts 'B' CCR on CreditWatch Positive
----------------------------------------------------------
Standard & Poor's Ratings Services said it placed its 'B'
corporate credit rating, 'B' first-lien secured debt rating, and
'CCC+' second-lien secured debt rating on Air Distribution
Technologies Inc. on CreditWatch with positive implications.  This
follows the announcement that the company has agreed to be
acquired by Johnston Controls Inc.

The rating action reflects Air Distribution Technologies'
acquisition by higher-rated Johnson Controls.

Milwaukee, Wis.-based Johnson Controls is a global technology and
industrial company.  It has agreed to acquire Air Distribution
Technologies for $1.6 billion.

Air Distribution is the leading North American manufacturer of
products that are used to distribute, recycle, and vent air and
that are critical components of heating, ventilation, and air
conditioning systems within nonresidential and residential
buildings.  The current corporate credit rating on Air
Distribution Technologies reflects the combination of what S&P
considers to be Air Distribution's "weak" business risk and
"highly leveraged" financial risk.

S&P will resolve the CreditWatch when the transaction closes,
which it expects to occur by the end of the third quarter.

S&P expects to raise its corporate credit rating on Air
Distribution upon closing, aligning it with the rating on Johnson
Controls and subsequently withdrawing its corporate credit and
issue-level ratings on the company.


ALLEGIANT TRAVEL: S&P Withdraws 'BB-' CCR on Company's Request
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew its
ratings on airline Allegiant Travel Co., including the 'BB-'
corporate credit rating, at the company's request.

"The rating withdrawals followed Allegiant's repayment of its
rated term loan in full on April 14, 2014," said Standard & Poor's
credit analyst Betsy Snyder.


ALLY FINANCIAL: Stephen Feinberg Stake at 8.6% as of April 9
------------------------------------------------------------
In a Schedule 13D filed with the U.S. Securities and Exchange
Commission, Stephen Feinberg disclosed that as of April 9, 2014,
he beneficially owned 41,516,297 shares of common stock of Ally
Financial Inc. representing 8.6 percent of the shares outstanding.
A copy of the regulatory filing is available for free at:

                       http://is.gd/xTwksI

                      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.


ALLY FINANCIAL: Declares Dividends on Preferred Stock
-----------------------------------------------------
Ally Financial Inc. has declared quarterly dividend payments for
certain outstanding preferred stock.  Each of these dividends were
declared by the board of directors on April 17, 2014, and are
payable on May 15, 2014.

A quarterly dividend payment was declared on Ally's Fixed Rate
Cumulative Perpetual Preferred Stock, Series G, of $43.6 million,
or $16.92 per share, and is payable to shareholders of record as
of May 1, 2014.  Additionally, a dividend payment was declared on
Ally's Fixed Rate/Floating Rate Perpetual Preferred Stock, Series
A, of $21.7 million, or $0.53 per share, and is payable to
shareholders of record as of May 1, 2014.

                        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.


ALMA ENERGY: Bankr. Lawyer Reprimanded for Unprofessional Conduct
-----------------------------------------------------------------
The Supreme Court of Kentucky ruled that James P. S. Snyder, KBA
Member No. 66180:

     -- is guilty of violating Supreme Court Rule 3.130-1.15(a);
        SCR 3.130-1.15(e); and SCR 3.130-3.4(c);

     -- is publicly reprimanded for his unprofessional conduct;

     -- is ordered to complete and participate in an evaluation
        performed by a professional of the Kentucky Lawyers
        Assistance Program and to fully comply with any resulting
        recommendations from such evaluation;

     -- pursuant to SCR 3.450, is directed to pay all costs
        associated with this disciplinary proceeding in the amount
        of $245.75, for which execution may issue from the Supreme
        upon finality of its Order.

A copy of the April 17, 2014 Opinion and Order is available at
http://is.gd/KoDFvufrom Leagle.com.

In June 2007, Mr. Snyder was contacted by a colleague to represent
Alma Energy, LLC, a coal mining corporation. Alma was experiencing
significant financial trouble. Consequently, Mr. Snyder filed a
Chapter 11 Bankruptcy petition on its behalf in the United States
Bankruptcy Court for the Eastern District of Kentucky. Shortly
thereafter, Mr. Snyder requested that the bankruptcy court approve
his retainer fee in the amount of $7,961.00.

Two years later, in August of 2009, an Assistant United States
Trustee deposed Mr. Snyder.  When questioned about the retainer he
had collected for the Alma bankruptcy, Mr. Snyder stated that he
had deposited the funds in either his personal or operating
checking accounts.  Mr. Snyder also explained that he had used
some of the retainer to pay the filing fee for Alma's bankruptcy
petition.  Mr. Snyder further revealed that the law firm of
Prewitt and DeBourbon had provided him with two separate $5,000.00
checks to pay for Alma's legal fees and expenses.  Mr. Snyder did
not believe payments from the third party law firm were required
to be held in trust, nor did he think the payments were subject to
court approval since the checks were not taken from Alma's
bankruptcy estate.

Mr. Snyder continued to implicate himself during the deposition.
For instance, Mr. Snyder testified that he had received $20,000.00
from Johnson County Gas Company for fees incurred from its own
Chapter 11 bankruptcy.  Mr. Snyder acknowledged that he had not
received approval from the court to obtain this money. Once again,
Mr. Snyder stated that court notice and approval was not necessary
since the owner of Johnson County Gas Company paid him directly
for his representation, not out of the bankruptcy estate.

Lastly, and arguably most damaging, was Mr. Snyder's admission
that he had not maintained a trust account for the previous five
years.  In fact, Mr. Snyder admitted that all client funds were
deposited into either his personal or operating checking accounts.

Due to Mr. Snyder's actions, he entered into an agreed order in
the United States Bankruptcy Court for the Eastern District of
Kentucky.  The order mandated that he return any unearned fees and
disgorge fees totaling $19,400.00. In addition, the order required
him to withdraw from all presently filed bankruptcy cases in which
meetings of the creditors had not yet been held or confirmed plans
obtained.  Lastly, the order enjoined him from filing new
bankruptcy petitions for not less than nine months, after which
time he could seek reinstatement from the court. Mr. Snyder's
motion states that he is currently engaged in a limited practice
of law.

On July 8, 2013; the Inquiry Commission issued a formal Charge,
KBA File No. 18236, containing the following counts of
disciplinary violations: Count I, Supreme Court Rule 3.130-1.15(a)
(failure to hold client's property in a separate account); Count
II, SCR 3.130-1.15(e) (failure to deposit advanced fees in a trust
account); and Count III, SCR 3.130-3.4(c) (knowingly disobeying an
obligation under rules of a tribunal). Mr. Snyder admits to
violating these three Rules of Professional Conduct.

In an effort to resolve the pending disciplinary charges, Mr.
Snyder and the Kentucky Bar Association have negotiated a sanction
pursuant to SCR 3.480(2). The negotiated sanction imposes a public
reprimand and requires Mr. Snyder to be monitored by the KYLAP.

The KBA contends that the recommended discipline is appropriate
and supported by Kentucky case law.

Mr. Snyder also has admitted to suffering from Obsessive-
Compulsive Disorder, which he claims was aggravated by the
daunting workload and stress he endured during the pendency of the
Alma case.  Mr. Snyder alleges that he was overwhelmed with legal
work and had no support staff. As a result, Mr. Snyder claims that
he was on the verge of a nervous breakdown.

Mr. Snyder states that he has been evaluated by KYLAP and now
participates in the program, although the extent of his
participation is unknown.

Based on previous cases imposing similar discipline for analogous
misconduct, in addition to Mr. Snyder's mental disorder and lack
of previous disciplinary actions, the state Supreme Court also
finds that the consensual discipline proposed by Mr. Snyder and
agreed to by the KBA is appropriate.  The Supreme Court,
therefore, granted Mr. Snyder's motion for a public reprimand.

                        About Alma Energy

Alma Energy, LLC, owned rights to mine coal on two tracts of land
located in Pike County, Ky.  Out of cash, the Debtor suspended its
mining operation and sought chapter 11 protection (Bankr. E.D. Ky.
Case No. 07-70370) on August 13, 2007.  The mining operation was
restarted in 2008 with funding by Pikeville Energy Group, LLC, but
halted again during the chapter 11 proceeding.  On April 17, 2009,
the United States Trustee moved to dismiss the case or convert it
to a Chapter 7 liquidation proceeding.  On May 20, 2009, the
bankruptcy court entered an order converting the Debtor's case to
one under Chapter 7, and the U.S. Trustee appointed Phaedra
Spradlin as the Chapter 7 trustee.


ALPHA NATURAL: Bank Debt Trades at 3% Off
-----------------------------------------
Participations in a syndicated loan under which Alpha Natural
Resources is a borrower traded in the secondary market at 96.59
cents-on-the-dollar during the week ended Friday, April 18, 2014,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease
of 0.32 percentage points from the previous week, The Journal
relates.  Alpha Natural Resources pays 275 basis points above
LIBOR to borrow under the facility.  The bank loan matures on May
31, 2020, and carries Moody's Ba2 rating and Standard & Poor's BB-
rating.  The loan is one of the biggest gainers and losers among
205 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.

As reported in the Troubled Company Reporter-Latin America on Dec.
16, 2013, Standard & Poor's Ratings Services said that it assigned
its 'B-' issue-level rating (one notch lower than the corporate
credit rating) to Alpha Natural Resources Inc.'s proposed $250
million convertible senior notes due 2020.


AMERICAN AIRLINES: Judge Says Co. Can't Cut Retiree Benefits
------------------------------------------------------------
Jacqueline Palank, writing for The Wall Street Journal, reported
that a bankruptcy judge ruled that former American Airlines parent
AMR Corp. doesn't have the unilateral right to terminate health
and welfare benefits for nearly 47,000 union and nonunion
retirees.

According to the Journal, the benefit programs largely "lack
language categorically reserving" the company's right to terminate
or otherwise modify them, Judge Sean Lane said in an order
publicly filed to U.S. Bankruptcy Court docket on April 18.  AMR
was seeking a summary judgment in a lawsuit it brought during its
Chapter 11 case.

The company, which exited bankruptcy last November through its
merger with US Airways Group Inc., wanted to shift the cost of the
benefits entirely to the retirees themselves, while still
providing them access to benefits at group rates, the Journal
related.

AMR sought Chapter 11 protection in November 2011 to address its
high labor costs, the Journal further related.  During its
restructuring, it negotiated deep concessions from labor unions
that helped it cut about $1 billion in annual labor costs.

As for its retirees, union and nonunion alike, the company in 2012
filed a lawsuit in bankruptcy court seeking a ruling that it has
no legal obligation to continue providing retiree health benefits
and life insurance, the Journal added.  It also wanted the ability
to modify its retiree benefit plans without securing retirees'
support.

Bill Rochelle, the bankruptcy columnist for Bloomberg News, noted
that bankruptcy law required appointment of an official committee
to oppose the airline's effort to end retirement benefits.  The
retirees won the first round when U.S. Bankruptcy Judge Sean Lane
handed down a 49-page opinion on April 18.

The airline argued there were no disputed issues of fact, the
Bloomberg report related.  Judge Lane disagreed, saying there must
be a trial to determine whether the airline reserved the
unilateral right to end health and life-insurance benefits for
most retirees.

Judge Lane said the governing documents "lack language
categorically reserving the airline's right to terminate their
contributions to retiree benefits" for 46,930 retirees at the
outset of bankruptcy in November 2011, Bloomberg said.

Since most retiree benefits were laid out in pre-bankruptcy
union contracts, AMR contended that the termination or rejection
of those contracts during bankruptcy automatically ended the
obligation to continue retirees' benefits, the Bloomberg report
added.

Judge Lane disagreed, Mr. Rochelle said.  Union contracts were
ended under Section 1113 of the Bankruptcy Code, while the company
must undergo a separate process under Section 1114 to end retiree
benefits, Bloomberg said.  Since the retirees didn't participate
in the 1113 process, it would be unfair, Judge Lane said, to end
their benefits through procedures where they weren't parties.

The retiree benefit lawsuit is AMR Corp. v. Committee of Retired
Employees (In re AMR Corp.), 12-01744, U.S. Bankruptcy Court,
Southern District of New York (Manhattan).

                     About American Airlines

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

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

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

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

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

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

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

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

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


AMERIGO ENERGY: Reports Sales of $5.8 Million in First Quarter
--------------------------------------------------------------
Amerigo Energy, Inc., announced preliminary information for first
quarter 2014 results.

Kurt Thomet, president of Quest Solution, the Company's wholly
owned subsidiary commented, "In the first 3 months of 2013, we had
sales of approximately $5,800,000, whereas for the same period in
2014, we are looking at a greater than 60% increase to bring us to
approximately $9,400,000 in sales to be reported for the first
quarter 2014."

George Zicman, vice president of sales addressed some of the
growth.  "This is our best first Quarter ever and we are
continuing to grow at rates above industry norms because of our
strong sales, systems and operations teams."  Zicman continued,
"Our software and services truly differentiate us and make a huge
difference for our many Fortune 1000 customers."

The Company is preparing the information for its independent
auditor for review of the financial statements, to be included in
the upcoming Form 10-Q to be filed before the May 15th deadline.

                           About Amerigo

Henderson, Nevada-based Amerigo Energy, Inc., is aggressively
looking for potential oil leases to acquire as well as businesses
which will fit with the Company's strategy.  Its wholly-owned
subsidiary, Amerigo, Inc., incorporated in Nevada on Jan. 11,
2008, holds minimal assets, including oil lease interests.

The Company's balance sheet at Sept. 30, 2013, showed $2.36
million in total assets, $2.86 million in total liabilities and a
$499,798 total stockholders' deficit.

"The Company has incurred cumulative net losses of approximately
$16,431,661 since its inception and requires capital for its
contemplated operational and marketing activities to take place.
The Company's ability to raise additional capital through the
future issuances of the common stock is unknown.  The obtainment
of additional financing, the successful development of the
Company's contemplated plan of operations, and its transition,
ultimately, to the attainment of profitable operations are
necessary for the Company to continue operations.  The ability to
successfully resolve these factors raise substantial doubt about
the Company's ability to continue as a going concern," the Company
said in its quarterly report for the period ended Sept. 30, 2013.


ARCH COAL: Bank Debt Trades at 2% Off
-------------------------------------
Participations in a syndicated loan under which Arch Coal Inc. is
a borrower traded in the secondary market at 97.78 cents-on-the-
dollar during the week ended Friday, April 18, 2014, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 0.33
percentage points from the previous week, The Journal relates.
Arch Coal Inc. pays 450 basis points above LIBOR to borrow under
the facility.  The bank loan matures on May 17, 2018, and carries
Moody's B1 rating and Standard & Poor's BB- rating.  The loan is
one of the biggest gainers and losers among 205 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

As reported in the Troubled Company Reporter on Oct. 10, 2013,
Moody's Investors Service downgraded the ratings of Arch Coal,
including the company's Corporate Family Rating (CFR) to B3 from
B2, Probability of Default Rating (PDR) to B3-PD from B2-PD, the
rating on senior secured credit facility to B1 from Ba3, and the
ratings on senior unsecured debt to Caa1 from B3. The outlook is
negative.


ARCHDIOCESE OF CHICAGO: Sexual Abuse Suit Filed
-----------------------------------------------
A lawsuit has been filed against the Archdiocese of Chicago on
behalf of a man who alleges that the former Paster, Daniel
McCormack, sexually abused him as a 12-year old boy, according to
an announcement by the attorney representing the plaintiff.

Lyndsay Markley is the attorney representing the alleged victim,
John C. Doe, and she filed the lawsuit at Cook County on Friday,
April 18.

John C. Doe is not the first victim -- Daniel McCormack pleaded
guilty in 2007 to multiple counts of criminal sexual assault and
the Archdiocese of Chicago reached a $3.15 million settlement with
another of his victims in January 2014.

Lyndsay Markley says that what is particularly horrifying about
this case, is how many complaints were ignored by the Archdiocese:

"This is a case about the Archdiocese's repeated failure to take
action against a known sexual abuser, allowing McCormack
unfettered access to hundreds of children whose lives are now
forever changed."

"How is the Catholic Church potentially liable for sexual abuse by
one of its pastors? There are many answers to why any business
could be responsible for the conduct of its employee, but one
important one here is that evidence indicates that the Catholic
Church was advised on a number of occasions that McCormack was
molesting young boys - in 1997 (while McCormack was in Seminary
college), 1999, 2003 and 2005."

"Instead of taking any action to prevent McCormack from being
around minors, he was actually promoted throughout the seminary.
In 2000, after repeated concerns, he was transferred to Chicago's
St. Agatha's Parish, which included coaching a basketball team of
minor boys! In our lawsuits, attorneys are attempting to make the
Catholic Church take accountability for its failure to investigate
these claims and take action to ensure that the children were
protected.  That is one reason the Catholic Church may be liable."

Here's a list of the many complaints made about McCormack and
ignored by the Archdiocese of Chicago:

While McCormack was a Seminarian (at priest college from 1986-
1994), complaints were made about him fondling his fellow students
in the middle of the night while they were passed out and that he
engaged in sexual conduct with a minor boy while on a church-
sponsored trip to Mexico.

These complaints were not only ignored by the Archdiocese,
MccCormack was ordained in 1994 upon graduation.

In 1998, the Archdiocese assigned Pastor McCormack to St. Joseph's
Seminary, a school, and Holy Family Parish.

In 1999, the principal of Holy Family School informed the
Archdiocese that McCormack may have sexually abused a young boy.
The complaint was ignored.?

In 2000, Pastor McCormack was promoted to the pastor of St.
Agatha's Parish which included a school campus (Our Lady of the
West Side).

In 2003, a woman contacted one of the Archdiocese office's and
advised them that McCormack was sexually abusing a young boy.  No
investigation into this call occurred.

In August of 2005, the Chicago Police Department questioned
McCormack in relation to allegations of sexual abuse made by a 5th
grade boy.

In October of 2005, the Archdiocese' Advisory Board made the
recommendation that McCormack finally be removed from the
priesthood for the "safety of children".  The Archdiocese ignored
this mandate and McCormack remained a pastor at St. Agatha's until
January of 2006.?

Unafraid, McCormack proceeded to rape another young boy, John C.
Doe, giving rise to the case filed by Lyndsay Markley in Cook
County on Friday, April 18.

The next step of the case will see video evidence deposition
(trial testimony) of defendant, Cardinal Francis George, scheduled
for May 29.

                      About Lyndsay Markley

Chicago-based Attorney, Lyndsay Markley, has dedicated her legal
practice to fighting on behalf of persons who suffered injuries or
death as the result of the wrongful or careless conduct of others.
For her work as a victims' advocate, Ms. Markley has received an
array of accolades, including selection to the Top 100 Trial
Attorneys in Illinois and a Top 40 Under 40 Trial Attorney for
2012-2014 by the National Association of Trial Lawyers.  She has
also been acknowledged by her colleagues as an Illinois' Rising
Star in 2013 -2014 (SuperLawyers' Magazine) and as a Top Women
Lawyer in Illinois in 2014 by Super Lawyers and Chicago Magazine.


ARI-RC 6: Gets Court's Nod to Use Cash Collateral Thru June 30
--------------------------------------------------------------
Judge Alan M. Ahart approved a stipulation permitting ARI-RC 6,
LLC, et al., access to the cash collateral of secured creditor
U.S. Bank N.A, as trustee for the registered holders of ML-CFC
Commercial Mortgage Trust 2007-5, Commercial Mortgage Pass-Through
Certificates, Series 2007-5, through June 30, 2014.

The Trust will be afforded replacement liens on the postpetition
rents, revenues, issues and profits of each of the Debtors, with
such replacement liens to have the same extent, validity, scope
and priority as its prepetition liens.

The Debtors may use the cash collateral in accordance with a
prepared budget, a copy of which is available for free at:

      http://bankrupt.com/misc/ARI-RC6_2013-2014budget.pdf

                          About ARI-RC

ARI-RC 6, LLC, and four related entities -- ARI-RC 14, LLC, ARI-RC
12, LLC, ARI-RC 21, LLC, ARI-RC 23, LLC -- filed voluntary
petitions under Chapter 11 on July 15, 2013.  Kenneth Greene
signed the petitions as president.

ARI-RC 3, LLC, and nine affiliates filed for Chapter 11 protection
on Aug. 1, 2013.  ARI-RC 11 and three more affiliates subsequently
filed their own Chapter 11 cases on Aug. 2, 2013.  The petitions
were signed by R. Frederick Hodder, Jr. and Monroe Sawhill Hodder,
trustees.

The Debtors own tenant in common (TIC) interests in two commercial
buildings commonly known as Rancho Conejo I and II, located at
1525 and 1535 Rancho Conejo Boulevard, in Thousand Oaks,
California.  The Debtors and 16 related TIC Investors, who have
not filed for bankruptcy, are passive investors with varying
percentage ownership interests in the Property.

The Debtors' cases are jointly administered under the lead case of
ARI-RC 6, Case No. 13-14692, in the U.S. Bankruptcy Court for the
Central District of California.  The Debtors estimated assets and
debts at $10 million to $50 million at the time of the filings.
Judge Alan M. Ahart presides over the cases.

Daniel H. Reiss, Esq., and John Patrick M. Fritz, Esq., of
Levene, Neale, Bender, Yoo & Brill L.L.P., are counsel to the
Debtors.


ARCTIC GLACIER: June 12 Claim Form Submission Deadline Set
----------------------------------------------------------
In re Arctic Glacier International Inc., et al.
Case No. 12-10605 (KG) (U.S. Bankruptcy Court, D. Del.) Jointly
Administered

IF YOU BOUGHT PACKAGED ICE FROM A RETAILER

Your Rights May Be Affected By A Court Approved Settlement

This Notice is provided pursuant to Bankruptcy Rule 7023 and an
Order of the United States Bankruptcy Court for the
District of Delaware.  A class action lawsuit alleges that Arctic
Glacier, Home City Ice, and Reddy Ice conspired to fix and raise
the price consumers paid for Packaged Ice.  ?Packaged Ice? is ice
sold in bags.  On February 27, 2014, the Bankruptcy Court approved
a settlement of a bankruptcy proof of claim based on the lawsuit
against one of the Companies, Arctic Glacier.  Home City Ice and
Reddy Ice previously agreed to separate settlements.

Pursuant to the Settlement, you may be entitled to a cash payment
if you bought from a retailer Packaged Ice made by Arctic Glacier,
Home City Ice, or Reddy Ice (or any of their subsidiaries or
predecessors) between January 1, 2001 and March 6, 2008 in any of
the following states: AZ, CA, IA, KS, ME, MA, MI, MN, MS, NE,
NV, NM, NY, NC, TN, and/or WI.  Copies of the Order approving the
Settlement, as well as notices describing in full the procedures
for submission of a Claim Form may be obtained, free of charge, at
www.arcticindirectpurchaser.com; www.icesettlements.com; or
www.amcanadadocs.com/arcticglacier.

TO RECEIVE A CASH PAYMENT, YOU MUST COMPLETE, SIGN, AND RETURN THE
CLAIM FORM PROVIDED BELOW, WHICH MUST BE POSTMARKED NO LATER THAN
JUNE 12, 2014 OR HAND DELIVERED, OR SUBMITTED VIA EMAIL OR
FACSIMILE, SO THAT IT IS ACTUALLY RECEIVED NO LATER THAN JUNE 12,
2014 AT 4:00 P.M. (PREVAILING EASTERN TIME) AT THE ADDRESS BELOW.
CLAIM FORM PLEASE SUBMIT YOUR COMPLETED CLAIM FORM ONLINE AT
WWW.ARCTICINDIRECTPURCHASER.COM OR MAIL IT TO:

Arctic Glacier Settlement Processing Center
c/o UpShot Services LLC
7808 Cherry Creek South Drive, Suite 112
Denver, CO 80231
Email: info@arcticindirectpurchaser.com
Toll Free: 855-226-8304
Fax: 720-249-0882

FAILURE TO SUBMIT YOUR COMPLETED CLAIM FORM BY JUNE 12, 2014 AT
4:00 P.M. (PREVAILING EASTERN TIME) OR TO PROVIDE THE REQUIRED
INFORMATION REQUESTED BELOW MAY RESULT IN THE REJECTION OF YOUR
CLAIM. YOU MAY SUBMIT ONLY ONE CLAIM FORM PER HOUSEHOLD.

1. Print Your Name:
2. E-Mail:
3. Street Address:
   City, State and Zip Code:
4. Phone Number:
5. Please state the number of bags of Packaged Ice made by either
Arctic Glacier, Home City Ice or Reddy Ice that you purchased from
a retailer in the Claims States during the Settlement Period.
Please check only one box.

I purchased 3 0r more bags; or
I purchased more than 10 bags and have proof of purchase
specify total number of bags:

TO RECEIVE $6.00 you must claim purchase of three or more bags.

TO RECEIVE MORE THAN $6.00 you must claim purchases of more than
ten bags, and provide proof of purchase for each bag in excess of
ten bags.  You will receive $6.00 for the first ten bags and $0.60
for each additional bag.  Failure to include Proof of Purchase for
Claims in excess of ten bags will limit your recovery to $6.00.
Submission of false or fraudulent claims will result in the Claim
being rejected in its entirety.

I hereby certify under penalty of perjury, in connection with this
federal action, that I purchased the above-referenced number of
bags of Packaged Ice stated above.

Dated

Signature of Claimant:

Questions? Visit www.ArcticIndirectPurchaser.com or Call 855-226-
8304


ASHLEY STEWART: Asks for Approval of Employee Incentive Plan
------------------------------------------------------------
Ashley Stewart filed on April 4, 2014, a motion seeking approval
of its key employee incentive plan (KEIP).

The Debtors state that goals of the KEIP are to motivate certain
essential personnel through the closing of the sale, to reward
certain essential employees if critical goals are achieved that
benefits all stakeholders, and to maximize the value of the
Debtors' estates for the benefit of all creditors.

The Debtors state that they have identified four (4) top
executives and six (6) management team members (the Participating
Employees) that the Debtor believes are essential to the
successful execution of the sale and will have the most impact on
the value achieved through the sale process. The participating
Employees are the employees principally responsible for assisting
with the sale of the Debtors' assets and that incentivizing their
performance will certainly inure to the benefit of the Debtors'
creditors and stakeholders.

The Debtors explain that the proposed KEIP is a performance-based
incentive program. As such, it provides increasing levels of
incentive payments to the Participating Employees based upon a
successful sale of the Debtors' assets. The amount of the
individual incentive bonuses are based on the Debtors realizing
certain levels of proceeds from a sale of all or substantially all
of the Debtors' assets, including the Sale. The Debtors assert
that the KEIP has an estimated cost ranging from a minimum of $0
to an absolute maximum of $1,400,000.

The Debtors believe that achieving the target sale proceeds levels
for the incentive bonuses will be difficult and will require
significant efforts by the Participating Employees.

The Debtors state that incentivizing participating employees will
pass muster under the business judgment rule and thus the Court
should approve the KEIP. Incentivizing the Participating Employees
to work towards obtaining higher and better bids for the Debtors'
assets Debtors state increases the likelihood of a robust Auction
with multiple rounds of bidding. Thus, the Debtors submit that the
KEIP is a reasonable exercise of their business judgment and is
necessary to properly incentivize the Participating Employees
during the sale.

Further the Debtors state that the KEIP is reasonable in scope
because it only applies to four (4) top executives and six (6)
management team personnel, together representing approximately
less than three (3%) of full time employees and approximately less
than one (1%) of total employees.

The Debtors emphasize that they must rely on the efforts of these
ten (10) Participating Employees, and their performance will have
the greatest impact on the value that the Debtors achieve during
the sale process. Without these Participating Employees Debtors
state that operations would likely grind to a halt before even
considering the aggressive marketing that will need to occur over
the coming weeks leading up to the Auction.

                      About Ashley Stewart

The Ashley Stewart name is synonymous with offering women who wear
sizes 12 and up well-made fashionable clothes at affordable
prices.

Ashley Stewart Holdings Inc. and affiliates New Ashley Stewart
Inc., AS IP Holdings Inc. and NAS Gift LLC filed Chapter 11
petitions in Newark, New Jersey (Bankr. D.N.J. Case Nos. 14-14383
to 14-14386) on March 10, 2014.  Michael A. Abate signed the
petitions as senior vice president finance/treasurer.  Ashley
Stewart Holdings estimated assets and liabilities of at least $10
million.  The Hon. Michael B. Kaplan oversees the case.

Curtis, Mallet-Prevost, Colt & Mosle LLP serves as the Debtors'
general counsel.  Cole, Schotz, Meisel, Forman & Leonard, P.A., is
the Debtors' local counsel.  PricewaterhouseCoopers LLP acts as
the Debtors' financial advisor.  Prime Clerk LLC serves as the
Debtors' claims and noticing agent.

Ashley Stewart has obtained authority to conduct store closing
sales at 27 locations around the United States in accordance with
a consulting agreement with Gordon Brothers Retail Partners, LLC.


BIOLIFE SOLUTIONS: Has 11.9 Million Outstanding Common Shares
-------------------------------------------------------------
BioLife Solutions, Inc., advised that as of April 18, 2014, it had
outstanding 11,941,619 share of common stock, after giving effect
to (i) the closing on March 25, 2014, of its public offering of
units for gross proceeds of approximately $15.4 million, and the
conversion of approximately $14.3 million of indebtedness to its
existing noteholders in exchange for units, and (ii) adjustments
for fractional shares made through April 18, 2014, with respect to
the Company's Jan. 29, 2014, 1:14 reverse stock split.  The number
of shares of common stock outstanding remains subject to
additional adjustment in accordance with the terms of the reverse
stock split.

                      About BioLife Solutions

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

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


BOSTON BIOMEDICAL: S&P Assigns Default Rating on 1999 Bonds
-----------------------------------------------------------
Standard & Poor's Ratings Services has lowered its long-term
rating to 'D' from 'CC' on Massachusetts Development Finance
Agency's series 1999 bonds, issued for the Boston Biomedical
Research Institute (BBRI).

"The 'D' rating reflects BBRI's failure to pay full principal and
accrued interest to bondholders for three months following a
Trustee notice of immediate acceleration of the bonds," said
Standard & Poor's credit analyst Nick Waugh.  Under the terms of
the Trust Agreement, upon an event of default caused by an event
of bankruptcy, all principal and accrued interest on the bonds are
immediately due and payable.  The trustee posted a notice of this
default on Electronic Municipal Market Access (EMMA) on April 17,
2013.  On July 3, 2013, BBRI closed the sale of its core campus
building and directed funds to the Trustee that were sufficient to
make a final distribution to bondholders of full principal and
accrued interest on July 5, 2013.  Although the bonds were
eventually redeemed in full, the lack of timely payment following
the notice of default and immediate acceleration led to the 'D'
rating.

"On April 9, 2013, we lowered the rating to 'CC' from 'B', with a
negative outlook, based on BBRI's board of trustees' decision to
dissolve the institute and our understanding that the institute
would likely seek a negotiated settlement with bondholders.
BBRI's board approved a recommendation to dissolve the institute
on Nov. 15, 2012. At the time of the downgrade to 'CC', we
understood that management intended to sell its assets (including
the core campus building), which it could use to pay bondholders,
but that the proceeds of a sale of the building plus existing
unrestricted assets would likely not be sufficient to pay full
principal and accrued interest on the outstanding debt," S&P said.

S&P had lowered the long-term rating to 'B' in 2012, prior to the
board's decision to dissolve the institute, reflecting its
expectation that BBRI would report large operating deficits for
fiscal 2012 and its understanding that the institute could cover
several years of debt service payments based on existing
resources, including an untapped debt service reserve fund.


BRUSH CREEK AIRPORT: Files List of 16 Unsecured Creditors
---------------------------------------------------------
Brush Creek Airport, LLC, filed with the U.S. Bankruptcy Court for
the District of Colorado a list of creditors holding 16 largest
unsecured claims:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Richard A. Landy                                       $1,672,450
9618 E. Maplewood Cir.
Greenswood Village, CO

Marlene F. Landy Marital Trust                           $882,450
9618 E. Maplewood Cir.
Greenwood Village, CO

Elaine Franklin                                          $483,684
18745 Meadowlark Ct.
Penn Valley, CA 95946

Gunnison County Treasurer                                       -
221 N. Wisconsin
Gunnison, CO

Brian Landy                                              $228,600
1292 Beacon Hill Dr.
Highlands Ranch, CO

Buckhorn Ranch Asso.                                            -
C/O Reg. Agent Elizabeth P. Appleton, PC
115 Elk Ave., Ste. E
Crested Butte, CO 81224

Robinson Waters & O'Do                                          -
C/O Reg. Agent Stephen L. Wat
1099 18th St., Ste. 2600
Denver, CO 80202

Landy Enterprises Inc.                                    $64,872
9618 Maplewood Cir.
Greenwood Village, CO

Elaine Rosenberg Trust                                          -
C/O James R. Jansson
Dain Wealth Management
3251 DTC Parkway, Ste. 800
Englewood, CO

William Ramlow                                                  -
1308 Overhill Rd.
Columbus, MO 65203

Karsh Fulton Gabler                                             -
950 So. Cherry St., #710
Denver, CO 80246-2665

Louise Wright                                                   -
2000 W. 92nd Ave., #473
Denver, CO 80260

Gunnison Valley Survey LLC                                      -
C/O Reg. Agent Frederick A. Ballard
69659 Hwy 50
Montrose, CO 81401

5280 Accounting Services                                        -
d/b/a The Wright Way
2828 N. Speer Blvd.
Denver, CO 80211

O'Hayre, Dawson & Norr                                          -
120 N. Taylor St.
Gunnison, CO 81230

Matzen & Fesler, P.C.                                           -
C/O Reg. Agent Amy L. Matzen
16 Inverness PI. East, Ste. E-100
Englewood, CO 80112

                    About Brush Creek Airport

Brush Creek Airport, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Col. Case No. 14-14630) in Denver on April 10, 2014.
The Debtor has tapped Sender Wasserman Wadsworth, P.C., as
counsel.  It estimated assets of $10 million to $50 million and
debt of $1 million to $10 million.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due August 8, 2014.


BRUSH CREEK AIRPORT: Ch. 11 Case Reassigned to Judge Romero
-----------------------------------------------------------
Judge Elizabeth E. Brown of the U.S. Bankruptcy Court for the
District of Colorado issued an order of recusal and reassigned the
Chapter 11 case of Brush Creek Airport, LLC, to Judge Michael E.
Romero.

                    About Brush Creek Airport

Brush Creek Airport, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Col. Case No. 14-14630) in Denver on April 10, 2014.
The Debtor has tapped Sender Wasserman Wadsworth, P.C., as
counsel.  It estimated assets of $10 million to $50 million and
debt of $1 million to $10 million.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due August 8, 2014.


BRUSH CREEK AIRPORT: Employs Sender Wasserman as Counsel
--------------------------------------------------------
Brush Creek Airport, LLC, seeks authority from the U.S. Bankruptcy
Court for the District  of Colorado to employ Sender Wasserman
Wadsworth, P.C., as counsel, to prepare on behalf of the Debtors,
all necessary reports, orders and other legal papers required in
the Chapter 11 proceeding.

The professionals' hourly rates for the services are as follows:

     Harvey Sender, Esq. -- hsender@sww-legal.com          $500
     John B. Wasserman, Esq. -- jwasserman@sww-legal.com   $500
     David V. Wadsworth, Esq. -- dwadsworth@sww-legal.com  $375
     David J. Warner, Esq. -- dwarner@sww-legal.com        $275
     Daniel Hepner, Esq. -- dhepner@sww-legal.com          $325
     Robert D. Lantz, Esq. -- rlantz@sww-legal.com         $325
     Katherine A. Swan, Esq. -- kswan@sww-legal.com        $250
     Aaron J. Conrardy, Esq. -- aconrardy@sww-legal.com    $240

The firm will also be reimbursed for any necessary out-of-pocket
expenses.

David J. Warner, Esq., at Sender Wasserman Wadsworth, P.C., in
Denver, Colorado, assures the Court that his 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.  Mr. Warner discloses that the
firm of SWW has no connection with any of the creditors of the
Debtor, the Debtor or any other party-in-interest, their attorneys
and/or accountants, the U.S. Trustee and any person employed by
the Office of the U.S. Trustee; (b) Harvey Sender has been a
Chapter 7 panel trustee in numerous cases since approximately
1984; (b) David V. Wadsworth was appointed as a Chapter 7 trustee
in October, 2009; and (c) Daniel Hepner is a Chapter 7 panel
trustee.

Prior to the filing of the petition, SWW provided general
representation in addition to pre-bankruptcy planning services to
the Debtor.  From October 28, 2012 through the Petition Date, SWW
billed the Debtor $23,368 in attorneys? fees and $1,213 in costs.
The firm was paid in full for those fees and costs from the
prepetition retainer provided the firm.

As of the Petition Date, SWW holding the balance of the retainer
of $20,419, which was generated in part by the sale of Lot 50,
Block 24, Filing #4 in Crested Butte South, Gunnison County,
Colorado, in March of 2014.

SWW asserts a security interest in the retainer. In the event the
case is converted to a Chapter 7 proceeding, the security interest
in the retainer may enable SWW to receive payment of its fees and
expenses to the extent of the retainer while other administrative
expenses remain unpaid, Mr. Warner tells the Court.  Any sums
remaining at the close of the representation will be refunded to
the Debtor. There are no liens or interests in the retained funds
other than the security interest claimed by SWW.

                    About Brush Creek Airport

Brush Creek Airport, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Col. Case No. 14-14630) in Denver on April 10, 2014.
The Debtor has tapped Sender Wasserman Wadsworth, P.C., as
counsel.  It estimated assets of $10 million to $50 million and
debt of $1 million to $10 million.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due August 8, 2014.


CAESARS ENTERTAINMENT: Bank Debt Trades at 8% Off
-------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
92.39 cents-on-the-dollar during the week ended Friday, April 18,
2014, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
a decrease of 1.41 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 525 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on Jan. 1, 2018, and carries Moody's B3 rating and Standard &
Poor's B- rating.  The loan is one of the biggest gainers and
losers among 205 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.

                  About Caesars Entertainment

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

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

The Company incurred a net loss of $1.49 billion on $8.58 billion
of net revenues for the year ended Dec. 31, 2012, as compared with
a net loss of $666.70 million on $8.57 billion of net revenues
during the prior year.  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.


CALIFORNIA PIZZA: S&P Lowers CCR to 'B-' & Revises Outlook to Neg.
------------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Los Angeles-based California Pizza Kitchen Inc. to 'B-'
from 'B'.  S&P also revised the outlook to negative from stable.
At the same time, S&P lowered its issue-level rating on the
company's $400 million senior secured credit facility to 'B-'.
The '3' recovery rating remains unchanged, indicating S&P's
expectation for meaningful (50%-70%) recovery in the event of a
payment default.

"The downgrade reflects our expectation that California Pizza
Kitchen will continue to experience sales and possibly profit
declines in the coming year as lower traffic offsets potential
increases in average check.  Under new management led by CEO G.J.
Hart, the company has made significant efforts to improve
restaurant service, menu selection, beverage assortment, pizza
quality, and other customer touch points in the past year," said
credit analyst Diya Iyer.  "However, these initiatives have yet to
turn around a pattern of negative top-line growth that has
persisted in recent years and continued through the latest holiday
season.  Furthermore, performance trends were strained by a
meaningful contraction in operating margins in 2013."

The negative outlook reflects S&P's expectation that weak traffic
trends and limited cost savings could pressure operating
performance in the next 12 to 18 months, causing credit metrics to
further weaken beyond what S&P currently forecasts.

Downside scenario

S&P could lower its ratings if weaker-than-expected performance
leads to a likely covenant breach.  S&P believes this could occur
as a result of a decline in EBITDA of more than 10% from S&P's
forecasts.  Moreover, S&P may lower the rating even if CPK amended
its credit facility such that it had sufficient covenant cushion
if S&P believed the company has an unsustainable capital
structure.

Upside scenario

S&P could revise the outlook to stable if the company improves its
operating performance such that it can maintain "adequate"
liquidity in S&P's view.  This could occur if EBITDA grew by
approximately 5% from past 12 month levels and S&P believed the
company could maintain profits near that level over the medium
term.


CASH STORE: Obtains Court OK of $8.5 Million DIP Financing
----------------------------------------------------------
The Ontario Superior Court of Justice (Commercial List) has
granted an amended Order with respect to the Company's application
for creditor protection under the Companies' Creditors Arrangement
Act.

The Court and the Cash Store Financial board of directors have
also authorized the Company and its subsidiaries to enter into a
debtor-in-possession financing agreement pursuant to which $8.5
million will be available to the Company to enable the Company and
its affiliates to continue operations during the CCAA proceedings,
with an option, subject to Court approval, to increase the amount
of that DIP financing up to a total of $20.5 million.  The Company
has entered into a DIP financing agreement on the approved terms.

The special committee of the Company's board of directors has
appointed Mr. William Aziz, president of Blue Tree Advisors Inc.,
as chief restructuring officer of the Company and the Court
authorized the appointment and established the authority of the
CRO.  The CRO will assume the responsibilities that would
otherwise be carried out by the board of directors, subject to the
oversight of FTI Canada Consulting Inc., the court-appointed
Monitor, and the Court.

Cash Store Financial's independent directors, Eugene Davis,
Timothy Bernlohr, Donald Campion and Thomas Fairfield, have
resigned from the Company's board of directors effective as of the
close of business on April 15, 2014.  The independent directors
were also the members of the special committee of independent
directors appointed by the board of directors of the Company with
the mandate of evaluating strategic alternatives available to the
Company with a view to maximizing value for all its stakeholders.
The Special Committee has fulfilled its mandate by providing a
recommendation to the board of directors that led to the Company
commencing proceedings under the CCAA, obtaining DIP financing and
obtaining the appointment of the CRO.  Accordingly, the Special
Committee has been disbanded and the members of the Special
Committee have resigned from the board.

Protection under the CCAA and the financing available under the
DIP financing agreement will provide Cash Store Financial with the
time and stability to attempt to restructure its affairs under the
CCAA, under the supervision of the CRO, the Monitor and the Court.

Cash Store Financial is committed to completing the restructuring
process quickly and efficiently.  The Company remains open for
business and its branches continue to operate. Daily lending is
continuing in all jurisdictions outside of Ontario.

                     About Cash Store Financial

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

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

Cash Store Financial employs approximately 1,900 associates.

Cash Store reported a net loss and comprehensive loss of C$35.53
million for the year ended Sept. 30, 2013, as compared with a net
loss and comprehensive loss of C$43.52 million for the year ended
Sept. 30, 2012.  As of Sept. 30, 2013, the Company had C$164.58
million in total assets, C$165.90 million in total liabilities and
a C$1.32 million shareholders' deficit.

                          *     *     *

As reported by the TCR on April 17, 2014, Standard & Poor's
Ratings Services said it lowered its issuer credit and issue-level
ratings on Edmonton, Alta.-based The Cash Store Financial Services
Inc. (CSF) to 'CC' from 'CCC'.

"The downgrade is in accordance with our criteria ("Criteria For
Assigning 'CCC+', 'CCC', 'CCC-', And 'CC' Ratings," Oct. 1, 2012)
and follows CSF's announcement that its board of directors has
voted to authorize the company and its subsidiaries to bring an
application in the Ontario Superior Court of Justice to seek
protection from creditors under the Companies' Creditors
Arrangement Act," said Standard & Poor's credit analyst Michael
Leizerovich.


CBM ASIA: Applies for Management Cease Trade Order
--------------------------------------------------
CBM Asia Development Corp. on April 17 disclosed that it has
applied for a management cease trade order to the British Columbia
Securities Commission, the Company's principal regulator.

As a result of a delay in obtaining financial information from the
Company's subsidiary in Indonesia and a lack of funding, the
Company will not be able to meet the filing deadline of
April 30, 2014 for its audited financial statements for the year
ended December 31, 2013, as well as the related Management's
Discussion & Analysis.

The Company expects to receive the required financial information
from its' Indonesian subsidiary by the end of April and is
currently raising funds by way of private placement in order to
cover the costs of the audit and, accordingly, it anticipates
filing the financial documents within two months of the filing
deadline of April 30, 2014.  The Company confirms that it intends
to satisfy the provisions of the alternative information
guidelines so long as it remains in default of this filing
requirement, being the provision of bi-weekly updates by way of
news release.

                About CBM Asia Development Corp.

CBM Asia Development Corp. -- http://www.cbmasia.ca-- is a
Canadian-based unconventional gas company with significant coalbed
methane ("CBM") exploration and development opportunities in
Indonesia.  The Company holds various participating interests in
five production sharing contracts (each a "PSC") for CBM in
Indonesia.  Indonesia has one of the largest CBM resources in the
world with a potential 453 trillion feet3 in-place, more than
double the country's natural gas reserves (Stevens and Hadiyanto,
2004).  Since 2008, a total of 54 CBM PSCs have been granted by
the Government of Indonesia, representing exploration commitments
of well over US$100 million during the next 3 years.  In addition
to CBM Asia, other companies active in CBM exploration in
Indonesia include BP, Dart Energy, ENI, Medco, Santos, and TOTAL.
BP, ENI, and the Indonesian government have confirmed that
commercial CBM production started in March 2011 from the Sanga-
Sanga PSC and is being exported from the Bontang LNG facility.
The Company trades on the TSX Venture Exchange under the symbol
"TCF".


CELL THERAPEUTICS: DSM Fine to Supply Pacritinib Drug Substance
---------------------------------------------------------------
Cell Therapeutics, Inc., entered into a Manufacturing and Supply
Agreement effective March 17, 2014, with DSM Fine Chemicals
Austria Nfg GmbH & Co KG pursuant to which DSM agreed to
manufacture and supply, and the Company agreed to purchase, on a
non-exclusive basis, pacritinib drug substance, subject to a
maximum amount during any given calendar year.

The Agreement requires the Company to provide to DSM a non-
binding, rolling forecast of estimated quantities of Pacritinib to
be manufactured and to deliver, from time-to-time, binding firm
purchase orders for its purchase of Pacritinib.  Although there is
a minimum batch order requirement per purchase order, there is no
overall minimum quantity required to be ordered during the term of
the Agreement.  In addition, the Company is responsible for
certain cancellation penalty fees, as well as out-of-pocket
expenses incurred by DSM with respect to any subsequently canceled
orders.  Subject to certain exceptions, DSM will pass through
costs of raw materials at actual cost with no additional markup.

The Agreement will remain in force until five years from the
Effective Date, and will automatically be renewed for successive
two (2) year periods unless either party provides advance notice
of termination.  The parties have bilateral early termination
rights upon the occurrence of certain specified events.  The
Company may also terminate the Agreement upon the occurrence of
certain additional specified events, including failure by the
Company to obtain and maintain certain regulatory approvals for
Pacritinib and in the event the parties are unable to agree on
future pricings under certain circumstances.

                      About Cell Therapeutics

Headquartered in Seattle, Washington, Cell Therapeutics, Inc.
(NASDAQ and MTA: CTIC) -- http://www.CellTherapeutics.com/-- is
a biopharmaceutical company committed to developing an integrated
portfolio of oncology products aimed at making cancer more
treatable.

The Company's balance sheet at Sept. 30, 2013, showed
$47.23 million in total assets, $33.39 million in total
liabilities, $13.46 million in common stock purchase warrants, and
$387,000 in total shareholders' equity.

                           Going Concern

The Company's independent registered public accounting firm
included an explanatory paragraph in its reports on the Company's
consolidated financial statements for each of the years ended
Dec. 31, 2007, through Dec. 31, 2011, regarding their substantial
doubt as to the Company's ability to continue as a going concern.
Although the Company's independent registered public accounting
firm removed this going concern explanatory paragraph in its
report on the Company's Dec. 31, 2012, consolidated financial
statements, the Company expects to continue to need to raise
additional financing to fund its operations and satisfy
obligations as they become due.

"The inclusion of a going concern explanatory paragraph in future
years may negatively impact the trading price of our common stock
and make it more difficult, time consuming or expensive to obtain
necessary financing, and we cannot guarantee that we will not
receive such an explanatory paragraph in the future," the Company
said in its quarterly report for the period ended Sept. 30, 2013.

The Company added that it may not be able to maintain its listings
on The NASDAQ Capital Market and the Mercato Telematico Azionario
stock market in Italy, or the MTA, or trading on these exchanges
may otherwise be halted or suspended, which may make it more
difficult for investors to sell shares of the Company's common
stock.

                         Bankruptcy Warning

"We have acquired or licensed intellectual property from third
parties, including patent applications relating to intellectual
property for pacritinib, PIXUVRI, tosedostat, and brostallicin.
We have also licensed the intellectual property for our drug
delivery technology relating to Opaxio which uses polymers that
are linked to drugs, known as polymer-drug conjugates.  Some of
our product development programs depend on our ability to maintain
rights under these licenses.  Each licensor has the power to
terminate its agreement with us if we fail to meet our obligations
under these licenses.  We may not be able to meet our obligations
under these licenses.  If we default under any license agreement,
we may lose our right to market and sell any products based on the
licensed technology and may be forced to cease operations,
liquidate our assets and possibly seek bankruptcy protection.
Bankruptcy may result in the termination of agreements pursuant to
which we license certain intellectual property rights," the
Company said in its Form 10-Q for the period ended Sept. 30, 2013.


CHAMAX LLC: Tampa Property to Be Auctioned Off
----------------------------------------------
Auction firm Tranzon is selling a roughly 824-acre property in the
Tampa Bay area.  The auction date is to be determined.

According to a notice by Tranzon:

     -- the preliminary site plan allows roughy 1,719
        residential units and roughly 150,000 sq. feet of
        commercial space;

     -- the property has roughly 2 miles of I-75 frontage; and

     -- the property is within roughly 10 miles of new Amazon
        fulfillment center.

Tranzon also said there's no minimum bid.  Any deal is subject to
Bankruptcy Court approval in the Chapter 11 case of Chamax LLC.

Tranzon may be reached at 877-374-4437.  On the Net:
http://www.tranzon.com/

Chamax, LLC, based in Clearwater, Florida, filed for Chapter 11
bankruptcy (Bankr. M.D. Fla. Case No. 13-16906) on Dec. 31, 2013,
in Tampa.  Harley E Riedel, Esq., and Edward J. Peterson, III,
Esq., at Stichter, Riedel, Blain & Prosser, PA.  In its petition,
Chamax estimated $1 million to $10 million in assets, and
liabilities of $10 million to $50 million.  The petition was
signed by Tom R. Chapman, manager.


CHINA NATURAL: Abax Entities Object to Exclusivity Extension Bid
---------------------------------------------------------------
Abax Lotus Ltd. and Abax Nai Xin A Ltd., filed an objection to
China Natural Gas, Inc.'s third motion seeking an extension of the
exclusivity periods to file a Chapter 11 plan.

Abax stated that in the Debtor's second exclusivity motion,
counsel for the Debtor identified a number of modest milestones
that the Debtor expected to compete during its 60-day extension
period with respect to its ongoing efforts to market and sell its
on-shore natural gas operations. Abax states that in addition to
completing and opening a data room, counsel for the Debtor
informed the Court that, at the conclusion of its 60-day extension
period, the Debtor expected to have fully marketed the assets for
sale, identified a lead bidder, and commenced documenting the
proposed transaction. However, Abax states that the Debtor has
wasted its extension and failed to accomplish any of its stated
goals.

Abax further asserts that the Debtor's management has failed to
provide Ernst & Young with the financial and other information
necessary to populate and open a data room to allow potential
investors to commence their due diligence.

Abax also states that even more egregious is management's failure
to finalize even a simple form of advertisement to publicize the
sale and attract interested parties.  The Debtor says that this is
a far cry from identifying a lead bidder and papering a
transaction as the Debtor's counsel stated at the second
exclusivity hearing.

Because of these reasons, Abax opposes the third extension of the
exclusivity period.

In its request, China Natural Gas asks the Court to extend the
exclusivity period by 60 days, through and including June 9, 2014.
The exclusive filing period was slated to expire April 7, absent
an extension.  The Debtor asserts that it has hired various
entities to help it reorganize or sell its assets.  The Debtor and
its advisors (including E&Y China) require additional time and,
therefore, an extension of its Exclusive Period to negotiate,
document and file any acceptable transaction.

The Debtor states that cause exists for the Court to grant the
extension.  The Debtor asserts that it has made progress in
resolving issues facing its estate and creditors. Further, it
alleges that cause exists because it is a publicly traded company
with a complex business structure. Also, it states that cause
exists because an extension of the exclusivity period will not
harm the Debtor's creditors as the Debtor has maintained
consistent and regular communications with its key constituencies
during the case.

The Debtor asserts that it continues to address a number of key
issues, and continues to engage in discussions with its key
constituencies regarding reorganization capital and the
composition of a Chapter 11 Plan.  The Debtor states that it is
also actively seeking to resolve (consensually, and, if necessary,
by dispositive motion) the pending securities class action and
derivative claims.  The Debtor says that only after it addresses
these and other issues and has an opportunity to analyze the
claims that will be filed in the case will it be in a position to
pursue confirmation of a Chapter 11 Plan.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that China Natural Gas said in court papers it has
identified four potential investors or buyers.  All four signed
confidentiality agreements, allowing them to receive detailed
financial information, the company said.

                         About China Natural

Headquartered in Xi'an, Shaanxi Province, P.R.C., China Natural
Gas, Inc., was incorporated in the State of Delaware on March 31,
1999.  The Company through its wholly owned subsidiaries and
variable interest entity, Xi'an Xilan Natural Gas Co., Ltd., and
subsidiaries of its VIE, which are located in Hong Kong, Shaanxi
Province, Henan Province and Hubei Province in the People's
Republic of China ("PRC"), engages in sales and distribution of
natural gas and gasoline to commercial, industrial and residential
customers through fueling stations and pipelines, construction of
pipeline networks, installation of natural gas fittings and parts
for end-users, and conversions of gasoline-fueled vehicles to
hybrid (natural gas/gasoline) powered vehicles at 0ptmobile
conversion sites.

On Feb. 8, 2013, an involuntary petition for bankruptcy was filed
against the Company by three of the Company's creditors, Abax
Lotus Ltd., Abax Nai Xin A Ltd., and Lake Street Fund LP (Bankr.
S.D.N.Y. Case No. 13-10419).  The Petitioners claimed that they
have debts totaling $42,218,956.88 as a result of the Company's
failure to make payments on the 5% Guaranteed Senior Notes issued
in 2008.  Adam P. Strochak, Esq., at Weil, Gotshal & Manges, LLP,
in Washington, D.C., represents the Petitioners as counsel.

China Natural Gas, Inc., sought dismissal of the involuntary
petition but in July 2013, it consented to the entry of an
order for relief under Chapter 11 of the U.S. Code.

As of Sept. 30, 2013, the Company had consolidated assets of
$307,496,948 and liabilities of $87,714,323.


CHINA NATURAL: Files Form 15 to Deregister Common Stock
-------------------------------------------------------
China Natural Gas, Inc., has filed with the U.S. Securities and
Exchange Commission a Form 15 "CERTIFICATION AND NOTICE OF
TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF THE SECURITIES
EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER
SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934" with
respect to its Common Stock, $0.0001 par value per share.

Shuwen Kang, the Company's Chief Executive Officer, said the
approximate number of holders of record as of the certification or
notice date is 27.

                         About China Natural

Headquartered in Xi'an, Shaanxi Province, P.R.C., China Natural
Gas, Inc., was incorporated in the State of Delaware on March 31,
1999.  The Company through its wholly owned subsidiaries and
variable interest entity, Xi'an Xilan Natural Gas Co., Ltd., and
subsidiaries of its VIE, which are located in Hong Kong, Shaanxi
Province, Henan Province and Hubei Province in the People's
Republic of China ("PRC"), engages in sales and distribution of
natural gas and gasoline to commercial, industrial and residential
customers through fueling stations and pipelines, construction of
pipeline networks, installation of natural gas fittings and parts
for end-users, and conversions of gasoline-fueled vehicles to
hybrid (natural gas/gasoline) powered vehicles at 0ptmobile
conversion sites.

On Feb. 8, 2013, an involuntary petition for bankruptcy was filed
against the Company by three of the Company's creditors, Abax
Lotus Ltd., Abax Nai Xin A Ltd., and Lake Street Fund LP (Bankr.
S.D.N.Y. Case No. 13-10419).  The Petitioners claimed that they
have debts totaling $42,218,956.88 as a result of the Company's
failure to make payments on the 5% Guaranteed Senior Notes issued
in 2008.  Adam P. Strochak, Esq., at Weil, Gotshal & Manges, LLP,
in Washington, D.C., represents the Petitioners as counsel.

China Natural Gas, Inc., sought dismissal of the involuntary
petition but in July 2013, it consented to the entry of an
order for relief under Chapter 11 of the U.S. Code.

As of Sept. 30, 2013, the Company had consolidated assets of
$307,496,948 and liabilities of $87,714,323.


COLDWATER CREEK: Has Interim Approval of $42-Mil. DIP Loan
----------------------------------------------------------
Judge Brendan Linehan Shannon of U.S. Bankruptcy Court for the
District of Delaware gave Coldwater Creek Inc., et al., interim
authority to obtain postpetition financing an amount up to
$42,000,000, from Wells Fargo Bank, National Association, as
lender.

The proceeds of the DIP Facility will be used solely to pay costs,
expenses and fees in connection with the preparation, negotiation,
execution and delivery of the DIP Credit Agreement and the other
DIP Financing Agreements; and for general operating and working
capital purposes, for the payment of transaction expenses, for the
payment of fees, expenses, and costs incurred in connection with
the Chapter 11 cases, the Debtors' liquidation, and other proper
corporate purposes of the Debtors.

The Debtors also obtained interim authority to use cash collateral
in which Wells Fargo, the Prepetition Lender, has an interest.

All DIP Obligations will be immediately due and payable and all
authority to use the proceeds of the DIP Facility and to use Cash
Collateral will cease on the earliest to occur of any of the
following: (a) Aug. 31, 2014; (b) the date on which the maturity
of the DIP Obligations is accelerated and the commitments under
the DIP Facility have been irrevocably terminated as a result of
the occurrence of an event of default; (c) the failure of the
Debtors to obtain entry of the Final Order on or before May 12,
2014; or (d) the closing of a sale following entry of an order by
the Bankruptcy Court authorizing the sale of all or substantially
all of the assets of the Debtor.

A full-text copy of the Interim DIP Order with Budget is available
at http://bankrupt.com/misc/COLDWATERdipord0414.pdf

The final hearing on the motion will be heard before the Court on
May 6, 2014, at 9:30 a.m. (ET).  Objections are due April 29.

                      About Coldwater Creek

Coldwater Creek is a multi-channel retailer that offers its
merchandise through retail stores across the country, its catalog
and its e-commerce Web site, http://www.coldwatercreek.com/
Originally founded in Sandpoint, Idaho in 1984 as a direct,
catalog-based marketer, Coldwater evolved into a multi-channel
specialty retailer operating 334 premium retail stores, 31 factory
outlet stores and seven day spa locations throughout the United
States.

As of the bankruptcy filing, the Debtors domestically employ a
total of approximately 5,990 employees throughout their retail
locations, corporate headquarters and distribution, design and
call centers.

Coldwater Creek Inc. and its debtor-affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10867) on
April 11, 2014, to liquidate their assets.

Coldwater Creek Inc. estimated $10 million to $50 million in
assets and $100 million to $500 million in liabilities.  Affiliate
Coldwater Creek U.S. Inc. estimated $100 million to $500 million
in assets and liabilities.

The Debtors have drawn $37.5 million and have approximately $10
million in letters of credit outstanding under a senior secured
credit facility (ABL facility) provided by lenders led by Wells
Fargo Bank, National Association, as agent.  The Debtors also owe
$96 million, which includes accrued interest and approximately $23
million representing a prepayment premium payable, under a term
loan from lenders led by CC Holding Agency Corporation, as agent.
Aside from the funded debt, the Debtors have accumulated a
significant amount of accrued and unpaid trade and other unsecured
debt in the normal course of their business.

The Debtors have tapped Young Conaway Stargatt & Taylor, LLP, and
Shearman & Sterling LLP as attorneys, Perella Weinberg Partners LP
as financial advisor, Alvarez & Marsal as restructuring advisor,
and Prime Clerk LLC as claims and noticing agent.


COLDWATER CREEK: Taps Shearman & Sterling as Bankruptcy Counsel
---------------------------------------------------------------
Coldwater Creek Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Sherman &
Sterling LLP, as lead bankruptcy counsel to, among others, provide
legal advice with respect to the Debtors' rights and duties as
debtors in possession in the orderly liquidation as contemplated
by a Chapter 11 plan.

As of the Petition Date, Shearman & Sterling?s rates range from
$795 to $1,195 for partners, from $775 to $995 for counsel and
specialists, from $435 to $775 for associates, and from $220 to
$295 for legal assistants.  The firm customarily is reimbursed for
all expenses it incurs in connection with its representation of a
client in a given matter.

Douglas P. Bartner, Esq., a partner at Shearman & Sterling LLP, in
New York, assures the Court that his 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.  Mr. Bartner discloses that his firm
currently represents, and may in the future represent, in matters
wholly unrelated to the Chapter 11 cases National Union Fire
Insurance, Perella Weinberg Partners LP, and Wells Fargo Bank,
National Association.

Mr. Bartner further discloses that in the approximately one year
prior to the Petition Date, the Debtors paid $2,144,098, to
Shearman & Sterling on account of services performed and expenses
incurred.  In addition, the firm received an advance retainer of
$415,758 for professional services to be performed and expenses to
be incurred in connection with the Chapter 11 cases.

John E. Hayes, III, senior vice president, general counsel and
secretary of Coldwater Creek Inc., tells the Court that the
Debtors have approved Shearman & Sterling's prospective budget and
staffing plan for the three-month period beginning the Petition
Date.

A hearing on the employment application is scheduled for May 6,
2014, at 9:30 a.m. (ET).  Objections are due April 29.

                      About Coldwater Creek

Coldwater Creek is a multi-channel retailer that offers its
merchandise through retail stores across the country, its catalog
and its e-commerce Web site, http://www.coldwatercreek.com/
Originally founded in Sandpoint, Idaho in 1984 as a direct,
catalog-based marketer, Coldwater evolved into a multi-channel
specialty retailer operating 334 premium retail stores, 31 factory
outlet stores and seven day spa locations throughout the United
States.

As of the bankruptcy filing, the Debtors domestically employ a
total of approximately 5,990 employees throughout their retail
locations, corporate headquarters and distribution, design and
call centers.

Coldwater Creek Inc. and its debtor-affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10867) on
April 11, 2014, to liquidate their assets.

Coldwater Creek Inc. estimated $10 million to $50 million in
assets and $100 million to $500 million in liabilities.  Affiliate
Coldwater Creek U.S. Inc. estimated $100 million to $500 million
in assets and liabilities.

The Debtors have drawn $37.5 million and have approximately $10
million in letters of credit outstanding under a senior secured
credit facility (ABL facility) provided by lenders led by Wells
Fargo Bank, National Association, as agent.  The Debtors also owe
$96 million, which includes accrued interest and approximately $23
million representing a prepayment premium payable, under a term
loan from lenders led by CC Holding Agency Corporation, as agent.
Aside from the funded debt, the Debtors have accumulated a
significant amount of accrued and unpaid trade and other unsecured
debt in the normal course of their business.

The Debtors have tapped Young Conaway Stargatt & Taylor, LLP, and
Shearman & Sterling LLP as attorneys, Perella Weinberg Partners LP
as financial advisor, Alvarez & Marsal as restructuring advisor,
and Prime Clerk LLC as claims and noticing agent.


COLDWATER CREEK: Employs Young Conaway as Local Delaware Counsel
----------------------------------------------------------------
Coldwater Creek Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Young
Conaway Stargatt & Taylor, LLP, as local Delaware counsel.

The principal attorneys and paralegal presently designated to
represent the Debtors, and their current standard hourly rates,
are:

   Pauline K. Morgan, Esq.                   $765
   Kenneth J. Enos, Esq.                     $430
   Jaime Luton Chapman, Esq.                 $395
   Elizabeth S. Justison, Esq.               $280
   Debbie Laskin, paralegal                  $240

It is the firm's policy to charge its clients in all areas of
practice for all other expenses incurred in connection with the
client's case.

Young Conaway was retained by the Debtors pursuant to an
engagement agreement dated Jan. 7, 2014.  In accordance with the
agreement, Young Conaway received a retainer in the amount of
$30,000 on Feb. 26, 2014, in connection with the planning and
preparation of initial documents and its proposed postpetition
representation of the Debtors.  On April 4, 2014, Young Conaway
also received $9,704 as advanced payment for Chapter 11 filing
fees and additional $30,000 to supplement the retainer.  The
retainer was further supplemented with an additional $50,000 on
April 8, 2014, and an additional $50,000 on April 10, 2014.  In
addition, the firm received certain payments from the Debtors for
services performed prior to the Petition Date.

Ms. Morgan, a partner at Young Conaway Stargatt & Taylor, LLP, in
Wilmington, Delaware, assures the Court that her 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. Morgan discloses that her
firm previously represented Wells Fargo Bank, N.A., The Hartford-
Hartford Fire Insurance Co., among others, in matters wholly
unrelated to the Debtors and their Chapter 11 cases.

John E. Hayes, III, the senior vice president, general counsel,
and secretary of Coldwater Creek Inc., tells the Court that the
Debtors have approved Young Conaway's prospective budget and
staffing plan for the three-month period beginning on the Petition
Date.

A hearing on the employment application is scheduled for May 6,
2014, at 9:30 a.m. (ET).  Objections are due April 29.

                      About Coldwater Creek

Coldwater Creek is a multi-channel retailer that offers its
merchandise through retail stores across the country, its catalog
and its e-commerce Web site, http://www.coldwatercreek.com/
Originally founded in Sandpoint, Idaho in 1984 as a direct,
catalog-based marketer, Coldwater evolved into a multi-channel
specialty retailer operating 334 premium retail stores, 31 factory
outlet stores and seven day spa locations throughout the United
States.

As of the bankruptcy filing, the Debtors domestically employ a
total of approximately 5,990 employees throughout their retail
locations, corporate headquarters and distribution, design and
call centers.

Coldwater Creek Inc. and its debtor-affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10867) on
April 11, 2014, to liquidate their assets.

Coldwater Creek Inc. estimated $10 million to $50 million in
assets and $100 million to $500 million in liabilities.  Affiliate
Coldwater Creek U.S. Inc. estimated $100 million to $500 million
in assets and liabilities.

The Debtors have drawn $37.5 million and have approximately $10
million in letters of credit outstanding under a senior secured
credit facility (ABL facility) provided by lenders led by Wells
Fargo Bank, National Association, as agent.  The Debtors also owe
$96 million, which includes accrued interest and approximately $23
million representing a prepayment premium payable, under a term
loan from lenders led by CC Holding Agency Corporation, as agent.
Aside from the funded debt, the Debtors have accumulated a
significant amount of accrued and unpaid trade and other unsecured
debt in the normal course of their business.

The Debtors have tapped Young Conaway Stargatt & Taylor, LLP, and
Shearman & Sterling LLP as attorneys, Perella Weinberg Partners LP
as financial advisor, Alvarez & Marsal as restructuring advisor,
and Prime Clerk LLC as claims and noticing agent.


COLDWATER CREEK: Can Employ Prime Clerk as Claims & Noticing Agent
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Coldwater Creek, Inc., et al., to appoint Prime Clerk LLC as
claims and noticing agent.

For its claims and noticing services, Prime Clerk will charge the
Debtors at these hourly rates:

                                    Hourly Rate
                                    -----------
     Senior Case Manager              $210
     Case Manager                     $180
     Analyst                          $150
     Technology Consultant            $135
     Clerk                             $45

For the firm's solicitation, balloting and tabulation services,
the rates are:

                                    Hourly Rate
                                    -----------
     Director of Solicitation         $235
     Solicitation Analyst             $210

The firm will charge $0.10 per page for printing, $0.10 per page
for fax noticing and no charge for e-mail noticing.  Hosting of
the case Web site is free of charge and on-line claim filing
services are free of charge.  For data administration and
management, the firm will charge $0.10 per record per month for
data storage, maintenance and security.

Prior to the Petition Date, the Debtors provided Prime Clerk a
retainer in the amount of $5,000.

                      About Coldwater Creek

Coldwater Creek is a multi-channel retailer that offers its
merchandise through retail stores across the country, its catalog
and its e-commerce Web site, http://www.coldwatercreek.com/
Originally founded in Sandpoint, Idaho in 1984 as a direct,
catalog-based marketer, Coldwater evolved into a multi-channel
specialty retailer operating 334 premium retail stores, 31 factory
outlet stores and seven day spa locations throughout the United
States.

As of the bankruptcy filing, the Debtors domestically employ a
total of approximately 5,990 employees throughout their retail
locations, corporate headquarters and distribution, design and
call centers.

Coldwater Creek Inc. and its debtor-affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10867) on
April 11, 2014, to liquidate their assets.

Coldwater Creek Inc. estimated $10 million to $50 million in
assets and $100 million to $500 million in liabilities.  Affiliate
Coldwater Creek U.S. Inc. estimated $100 million to $500 million
in assets and liabilities.

The Debtors have drawn $37.5 million and have approximately $10
million in letters of credit outstanding under a senior secured
credit facility (ABL facility) provided by lenders led by Wells
Fargo Bank, National Association, as agent.  The Debtors also owe
$96 million, which includes accrued interest and approximately $23
million representing a prepayment premium payable, under a term
loan from lenders led by CC Holding Agency Corporation, as agent.
Aside from the funded debt, the Debtors have accumulated a
significant amount of accrued and unpaid trade and other unsecured
debt in the normal course of their business.

The Debtors have tapped Young Conaway Stargatt & Taylor, LLP, and
Shearman & Sterling LLP as attorneys, Perella Weinberg Partners LP
as financial advisor, Alvarez & Marsal as restructuring advisor,
and Prime Clerk LLC as claims and noticing agent.


COLERIDGE CORP: Amends Schedules of Assets and Liabilities
----------------------------------------------------------
Coleridge Corporation filed with the U.S. Bankruptcy Court for the
Middle District of Florida amended schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property                   $52
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $4,772,486
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $285,107
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                       $10,130,613
                                 -----------      -----------
        Total                            $52      $15,188,206

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

                       About Coleridge Corp

Coleridge Corporation filed a bare-bones Chapter 11 petition
(Bankr. M.D. Fla. Case No. 14-00318) in Tampa, Florida on Jan. 13.
Weston, Florida-based Coleridge estimated $10 million to $50
million in assets and liabilities.

The Debtor is represented by Edward J. Peterson, III, Esq., at
Stichter, Riedel, Blain & Prosser, PA, in Tampa, Florida.
According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due May 13, 2014.  The Debtor disclosed
that two related entities have pending bankruptcy cases in Tampa
-- Boardwalk and Baseball, Inc., and Boardwalk Land Development
Inc.  The Honorable Michael G. Williamson oversees the Chapter 11
case.


COPYTELE INC: Amends $30 Million Prospectus
-------------------------------------------
CopyTele, Inc., filed with the U.S. Securities and Exchange
Commission an amended Form S-3 registration statement relating to
sale of any one of these securities for total gross proceeds of up
to $30,000,000:

          * common stock;

          * preferred stock;

          * purchase contracts;

          * warrants to purchase our securities;

          * subscription rights to purchase any of the foregoing
            securities;

          * depositary shares;

          * debt securities (which may be senior or subordinated,
            convertible or non-convertible, secured or unsecured);
            and

          * units comprised of the foregoing securities.

The Company amended the Registration Statement to delay its
effective date.

The Company's common stock is quoted on the OTCQB under the symbol
"COPY."  If the Company decides to seek a listing of any preferred
stock, purchase contracts, warrants, subscriptions rights,
depositary shares, debt securities or units offered by this
prospectus, the related prospectus supplement will disclose the
exchange or market on which the securities will be listed, if any,
or where the Company has made an application for listing, if any.

Concurrently with the securities being offered by the Company in a
primary offering pursuant to this prospectus, an additional
28,748,415 shares of the Company's common stock are being
registered in a secondary offering in a separate prospectus
included in our Registration Statement on Form S-3 (File No.333-
193826).  Additionally, on Feb. 3, 2014, the Company filed its
Post-Effective Amendment No. 1 to Form S-1 on Form S-3 (File No.
333-188096), to continue the registration of up to 57,400,130
shares of the Company's common stock, originally registered in a
secondary offering and declared effective on June 14, 2013.

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

                         http://is.gd/eajFe1

                           About CopyTele

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

CopyTele incurred a net loss of $10.08 million for the year ended
Oct. 31, 2013, as compared with a net loss of $4.25 million during
the prior year.  As of Jan. 31, 2014, the Company had $10.32
million in total assets, $11.54 million in total liabilities, all
current, $4.44 million in contingencies and a $5.66 million total
shareholders' deficiency.


DAUGHTERS OF CHARITY: S&P Lowers Bonds Rating to B-; Outlook Neg
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its rating to 'B-' from
'BBB-' on the California Statewide Communities Development
Authority's series 2005A, 2005F, 2005G, and 2005H fixed-rate
bonds, issued for the Daughters of Charity Health System (DCHS),
and removed the ratings from CreditWatch with negative
implications where they had been placed on March 19, 2014.  The
rating outlook is negative.

"The rating action reflects our view of DCHS' escalating operating
losses during the past several years and a substantial loss from
operations, according to our calculations, through the first half
of fiscal 2014," said Standard & Poor's credit analyst Kenneth
Gacka.  "In addition, we understand that DCHS has begun to solicit
proposals from buyers for the acquisition of its individual
hospitals or the system as a whole, which creates additional
uncertainty as to the future of DCHS," continued Mr. Gacka.

More specifically, the rating action and negative outlook reflect
S&P's assessment of DCHS':

   -- Growing operating losses,

   -- Extremely weak maximum annual debt service coverage despite
      a reduction in debt service following the refunding of the
      series 2008A bonds,

   -- Revenue and volume declines since 2009,

   -- Eroding unrestricted reserves,

   -- Heavy reliance on provider fee benefits and disproportionate
      share receipts to help offset operating losses, and

   -- Substantially underfunded pension plan.

At Dec. 31, 2013, DCHS had $294.2 million of long-term debt
outstanding.


DENBURY RESOURCES: S&P Affirms 'BB' Corp. Credit Rating
-------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its ratings on
Plano, Texas-based Denbury Resources Inc., including its 'BB'
corporate credit rating on the company and its existing 'BB' issue
ratings on the company's debt.  The outlook is stable.  S&P has
revised its recovery rating on Denbury's senior subordinated debt
to '4' from '3', indicating its expectation of average (30% to
50%) recovery in the event of a payment default.  The revision to
the recovery rating reflects S&P's view that recovery prospects
would be less favorable for noteholders as a result of a lower PV-
10 valuation of the company's 2013 year-end reserves under S&P's
recovery price deck assumptions.  In addition, unsecured claims
are higher, attributable to an increase in total subordinated debt
levels following the refinancing.

"We also assigned a 'BB' issue rating (the same as the corporate
credit rating) to Denbury's $1.25 billion senior subordinated
notes issue due 2022.  Our recovery rating on Denbury's senior
subordinated notes is '4', indicating our expectation of average
recovery (30% to 50%) in the event of a payment default.  Denbury
intends to use net proceeds from this offering to refinance
existing debt.  The company announced it is conducting a cash
tender offer for all of the $996.3 million of outstanding 8.25%
senior unsecured notes due 2020.  We also expect the company will
use remaining proceeds for general corporate purposes, which
includes partial repayment of its revolving credit facility
borrowings," S&P noted.

"The outlook is stable, reflecting our expectation that Denbury's
enhanced oil recovery operations and its favorable oil-weighted
production profile will continue to support steady profitability
and cash flow generation over the next year, enabling the company
to maintain credit measures consistent with our expectations for
the current rating level; this includes FFO to total debt of about
30% or more," said Standard & Poor's credit analyst.

S&P could consider a lower rating if Denbury posts weaker
production or profitability than its current expectations, or if
it expects the company were to pursue a more aggressive financial
policy such that FFO to total debt were to remain below 30% on a
sustained basis.

An upgrade is unlikely over the next year, but would be considered
if the company were to meet or exceed S&P's production forecast
and strengthen credit measures from current levels, including FFO
to total debt above 45%.


DUNE ENERGY: Zell Credit Stake at 6.4% as of April 15
-----------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Zell Credit Opportunities Side Fund, L.P.,
and Chai Trust Company, LLC, disclosed that as of April 15, 2014,
they beneficially owned 4,637,762 shares of common stock of Dune
Energy, Inc., representing 6.4 percent based on 72,152,555 shares
of Common Stock outstanding as of March 7, 2014, as reported by
the Company in its Form 10-K filed on March 7, 2014.  A copy of
the regulatory fiilng is available at http://is.gd/jSnUpU

                        About Dune Energy

Dune Energy, Inc. (NYSE AMEX: DNE) -- http://www.duneenergy.com/
-- is an independent energy company based in Houston, Texas.
Since May 2004, the Company has been engaged in the exploration,
development, acquisition and exploitation of natural gas and crude
oil properties, with interests along the Louisiana/Texas Gulf
Coast.  The Company's properties cover over 90,000 gross acres
across 27 producing oil and natural gas fields.

Dune Energy reported a net loss of $46.98 million in 2013, a net
loss of $7.85 million in 2012 and a net loss of $60.41 million in
2011.  As of Dec. 31, 2013, the Company had $249.50 million in
total assets, $126.65 million in total liabilities and $122.84
million in total stockholders' equity.


DUTCH MINING: Placed Into Chapter 7 Bankruptcy
----------------------------------------------
The Board of Directors of Dutch Gold Resources, Inc., took action
to effectuate the liquidation of its wholly owned subsidiary,
Dutch Mining, LLC.

"[I]t would be in the best interests of creditors for the Limited
Liability Company to file a voluntary petition under Chapter 7 of
the Bankruptcy Code," the resolution stated.

This action does not affect the Dutch Gold, only its wholly owned
subsidiary.

A copy of the Corporate Resolution is available for free at:

                         http://is.gd/OIi1eQ

The Chapter 7 filing does not impact on the operations of the
parent, DGRI.

There has been no business activity in Dutch Mining, LLC since
2008.  There are no material assets in the subsidiary, as some of
the assets were sold off for the benefit of taxing authorities.
The prior landlord, Rendata Industrial Park, LLC, took the bulk of
the assets of Dutch Mining LLC under the terms of its lease
agreement.

The Company expects to place Dutch Mining LLC into a Chapter 7
bankruptcy proceeding later this month.  DGRI was set to file an
8K with the Securities and Exchange Commission on April 17, with
the applicable resolutions of the Board of Directors.  The Company
believes that the bankruptcy process will take ninety to one
hundred twenty days.  The likely outcome will be that the Company
will reduce its indebtedness by approximately $3,500,000,
positively impacting both the balance sheet and profit & loss
statement by Q3 2014.

Said Daniel Hollis, CEO, "While we remain disappointed by the
dismal results of our acquisition of Dutch Mining, LLC, we are
pleased to close this chapter of the Company's history.  This
action will free us up to focus on the remaining indebtedness in
DGRI, the parent company, where we will work vigorously to further
purge the balance sheet.  We believe that our new business model
should be allowed to grow unencumbered and we will work diligently
to mitigate our remaining debt through alternative debt
resolution."

At the end of this process, the Company expects to have a
$24,000,000 tax loss carry-forward, which will be used to shelter
earnings from taxation over the next one to two years.  The
combination of debt elimination and the NOL improves the Company's
likelihood of becoming a successful acquirer as it seeks to grow
by rolling other companies into its portfolio of offerings.  This
action may also positively impact the Company's ability to finance
acquisitions as well.

                      About Dutch Gold

Based in Atlanta, Ga., Dutch Gold Resources, Inc. (OTC: DGRI)
-- http://www.dutchgoldresources.com/-- is a junior gold miner
focused on developing its existing mining properties in North
America and acquiring and developing new mines that can enter into
production in 12 to 24 months.

After auditing the 2011 results, Hancock Askew & Co., LLP, in
Norcross, Georgia, noted that the Company has limited liquidity
and has incurred recurring losses from operations and other
conditions exist which raise substantial doubt about the Company's
ability to continue as a going concern.

The Company reported a net loss of $4.58 million on $0 of sales in
2011, compared with a net loss of $3.69 million on $0 of revenue
in 2010.  The Company's balance sheet at Sept. 30, 2012, showed
$2.65 million in total assets, $7.17 million in total liabilities
and a $2.23 million total stockholders' deficit.


EMMIS COMMUNICATIONS: S&P Assigns 'B' CCR; Outlook Stable
---------------------------------------------------------
Standard & Poor's Ratings Services assigned Indianapolis radio
broadcasting company Emmis Communications Corp. its 'B' corporate
credit rating.  The outlook is stable.

At the same time, S&P assigned the company's proposed $185 million
senior secured term loan due 2021 and $20 million senior secured
revolving credit facility due 2019 its 'B+' issue-level rating
(one notch above the corporate credit rating), with a recovery
rating of '2', indicating S&P's expectation for satisfactory (70%
to 90%) recovery for secured lenders in the event of a payment
default.

The company will use the proceeds to acquire radio stations WBLS-
FM and WLIB-AM in New York, N.Y. from YMF Media LLC for about $131
million and refinance the existing credit facility.

"The 'B' corporate credit rating reflects the company's revenue
concentration in a few markets, limited scale, and the financial
risk inherent in the increase in leverage," said Standard & Poor's
credit analyst Elton Cerda.

S&P views Emmis' business risk profile as "weak," based on the
company's small scale, average EBITDA margin, and exposure to
longer-term structural declines in radio.  S&P views the company's
financial risk profile as "aggressive," based on its pro forma
lease-adjusted leverage of 4.6x as of Feb. 28, 2014.  Pro forma
lease-adjusted interest coverage above 4x.  S&P views Emmis'
management and governance as "fair."

Emmis targets the African-American radio audience.  The company
operates 21 stations across six different markets.  YMF Media LLC
owns two stations, located in New York.  Pro forma for the YMF
Media acquisition, Emmis will operate 23 stations, with a
significant concentration in New York and Los Angeles.  Over 40%
of the pro forma broadcast cash flow comes from New York alone.
Despite the benefit of the acquisition to the company's
competitive position, the acquisition increases the company's
exposure to a single market.  S&P's business risk assessment also
captures the company's relatively low EBITDA margin when compared
with similar peers.  S&P views radio as subject to long-term
decline because of advertising migration online and audience
migration to alternative audio entertainment.

Pro forma for the acquisition, Emmis' credit metrics increase to
levels consistent with an "aggressive" financial risk profile
(debt to EBITDA between 4x and 5x).  S&P's base-case scenario
assumes leverage remains in the mid-4x area in 2014 and 2015.  In
2014, S&P expects interest coverage will remain in the mid-4x
area.  Although S&P expects the company to increase profitability
in 2014, it is not anticipating a significant increase as the
publishing segment has substantially lower margins than radio.

S&P applies a downward adjustment of one notch to its anchor score
for comparable rating analysis, based on its view that Emmis'
profitability and scale is somewhat less favorable than others S&P
regards as having a "weak" business assessment, such as Hubbard
Radio LLC and Radio One Inc.  Both peers have greater scale and
stronger EBITDA margin.


ENDEAVOR ENERGY: S&P Lowers Sr. Unsecured Rating to 'B'
-------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its senior
unsecured debt rating on Endeavor Energy Resources L.P. to 'B'
(one notch below the corporate credit rating) from 'B+'.  S&P
revised its recovery rating on this debt to '5', indicating its
expectation for modest (10% to 30%) recovery in the event of a
payment default, from '4'.

"The revised recovery rating reflects our assessment that
Endeavor's $250 million add-on issuance to its senior unsecured
notes results in lower recovery expectations for its unsecured
debt in a default scenario," said Standard & Poor's credit analyst
Ben Tsocanos.

The ratings on Endeavor Energy Resources reflect a modest,
primarily oil, proven reserve base and substantial acreage
position concentrated in the Permian Basin of West Texas and a
relatively high cost structure.  Ratings also incorporate capital
spending that S&P expects to exceed cash flow by a modest amount
and moderate leverage.  Standard & Poor's characterizes the
company's business risk profile as "weak," its financial risk
profile as "aggressive," and its liquidity as "adequate," pro
forma for the notes issuance.  Endeavor is a privately-held oil
and gas exploration and production company founded and controlled
by Autry Stephens, a petroleum engineer with significant operating
experience in West Texas.

Ratings List

Endeavor Energy Resources L.P.
Corporate Credit Rating                        B+/Stable/--

Rating Lowered                                  TO
FROM

Endeavor Energy Resources L.P.
Endeavor Finance Inc.
Senior Unsecured                               B              B+
  Recovery Rating                               5              4


ENERGY FUTURE: Failure to File Form 10-K Triggers Default
---------------------------------------------------------
The administrative agent under the TCEH Credit Agreement notified
Texas Competitive Electric Holdings Company LLC that TCEH is in
default of a covenant under the Credit Agreement, dated Oct. 10,
2007, by and among TCEH, as borrower, Energy Future Competitive
Holdings Company LLC and certain of Texas Competitive Electric
Holdings Company LLC's subsidiaries, as guarantors, and the
members of the lending syndicate and certain other agents,
requiring TCEH to furnish its annual financial statements and
related information to the administrative agent thereunder.

After expiration of a 30-day grace period that commenced upon
receipt of this notice, if TCEH has not furnished its annual
financial statements and related information to the administrative
agent or EFCH has not filed its Annual Report on Form 10-K, the
administrative agent or lenders holding not less than a majority
of the aggregate principal amount of loans under the TCEH Credit
Agreement may declare the entire principal amount of the TCEH
Credit Agreement and the interest accrued thereon to be due and
payable immediately.  The current principal amount outstanding
under the TCEH Credit Agreement is approximately $22.635 billion.

On March 31, 2014, each of EFH Corp., EFCH and EFIH disclosed in a
Current Report on Form 8-K that, among other things, TCEH intended
not to pay certain interest payments due on its funded debt on
April 1, 2014.  TCEH did not make, and has not made, these
interest payments.  The Indentures that govern the terms of the
funded debt provide for a 30-day grace period for failure to make
interest payments before an event of default may be deemed to have
occurred.  This grace period will expire on May 1, 2014.

              About Energy Future Holdings, fka TXU Corp.

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a portfolio
of competitive and regulated energy businesses in Texas.  Oncor,
an 80 percent-owned entity within the EFH group, is the largest
regulated transmission and distribution utility in Texas.

The Company delivers electricity to roughly three million delivery
points in and around Dallas-Fort Worth.  EFH Corp. was created in
October 2007 in a $45 billion leverage buyout of Texas power
company TXU in a deal led by private-equity companies Kohlberg
Kravis Roberts & Co. and TPG Inc.

                Restructuring Talks With Creditors

In April 2013, Energy Future and its affiliates confirmed in a
regulatory filing that they are in restructuring talks with
certain unaffiliated holders of first lien senior secured claims
concerning the Companies' capital structure.

Energy Future has retained Kirkland & Ellis LLP and Evercore
Partners to advise the Companies with respect to the potential
changes to the Companies' capital structure and to assist in the
evaluation and implementation of other potential restructuring
options.

The Creditors have retained Paul, Weiss, Rifkind, Wharton &
Garrison LLP and Millstein & Co., L.P. to advise the Creditors and
to assist in the Creditors' evaluation of potential restructuring
options involving the Companies.

According to a Wall Street Journal report, people familiar with
the matter said Apollo Global Management LLC, Oaktree Capital
Management, Centerbridge Partners and GSO Capital Partners, the
credit arm of buyout firm Blackstone Group LP, all hold large
chunks of Energy Future's senior debt.  Many of these firms belong
to a group being advised by Jim Millstein, a restructuring expert
who helped the U.S. government revamp American International Group
Inc.  The Journal said Apollo enlisted investment bank Moelis &
Co. for additional advice to ensure it gets as much attention as
possible on the case given its large debt holdings.


F&H ACQUISITION: Has Until July 14 to Remove Civil Actions
----------------------------------------------------------
U.S. Bankruptcy Judge Kevin Gross has given F & H Acquisition
Corp. until July 14 to file notices of removal of pending civil
actions involving the company and its affiliated debtors.

F & H Acquisition had said the extension will give the company
sufficient time to review the actions and determine if they should
be removed pursuant to Bankruptcy Rule 9027(a).

                  About F & H Acquisition Corp.

Wichita, Kansas-based F & H Acquisition Corp., et al., owners of
the Fox & Hound, Champps, and Bailey's Sports Grille casual dining
restaurants, filed a Chapter 11 petition (Bankr. D. Del. Lead
Case No. 13-13220) on Dec. 16, 2013, to quickly sell their assets.

As of the bankruptcy filing, the Debtors have 101 restaurants
located in 27 states and 6,000 employees.  Sales decreased by
approximately 9 percent over the past two years.  The Debtors also
experienced significant inflation in commodity prices, energy
prices and labor costs.

F&H estimated assets in excess of $100 million.  According to a
court filing, outstanding debt obligations total $119 million,
including $68.4 million owing on a first-lien loan with General
Electric Capital Corp. as agent.  The $11.2 million second-lien
obligation has Cerberus Business Finance LLC as agent.  Unsecured
trade suppliers and landlords are owed $11.2 million.

F & H Acquisition Corp., disclosed $122,115,200 in assets and
$122,579,631 in liabilities as of the Chapter 11 filing.

The senior lenders are to provide $9.6 million in financing for
the bankruptcy, with $3.5 million on an interim basis.

The parent holding company, F&H Acquisition Corp., is based in
Wichita, Kansas.

The Debtors have tapped Adam Friedman, Esq., at Olshan Frome
Wolosky LLP, in New York; and Robert S. Brady, Esq., Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware, as counsel;
Imperial Capital LLC as financial advisor; and Epiq Bankruptcy
Solutions as claims and noticing agent.

The U.S. Trustee has appointed seven members to an official
committee of unsecured creditors.  The Official Committee of
Unsecured Creditors is represented by Bradford J. Sandler, Esq.,
at Pachulski Stang Ziehl & Jones, LLP, in Wilmington, Delaware;
and Jeffrey N. Pomerantz, Esq., at Pachulski Stang Ziehl & Jones,
LLP, in Los Angeles, California.


F&H ACQUISITION: Has Until July 14 to Decide on Leases
------------------------------------------------------
U.S. Bankruptcy Judge Kevin Gross has given F & H Acquisition
Corp. and its affiliated debtors until July 14 to either assume or
reject their leases of nonresidential real property.

The companies are party to approximately 80 retail leases and
other nonresidential real property leases that have not yet been
assumed or rejected.

Judge Gross in February approved the sale of substantially all of
F & H assets to Cerberus Business Finance, LLC.  As part of the
sale, some of the leases will be assigned to Cerberus.

                  About F & H Acquisition Corp.

Wichita, Kansas-based F & H Acquisition Corp., et al., owners of
the Fox & Hound, Champps, and Bailey's Sports Grille casual dining
restaurants, filed a Chapter 11 petition (Bankr. D. Del. Lead
Case No. 13-13220) on Dec. 16, 2013, to quickly sell their assets.

As of the bankruptcy filing, the Debtors have 101 restaurants
located in 27 states and 6,000 employees.  Sales decreased by
approximately 9 percent over the past two years.  The Debtors also
experienced significant inflation in commodity prices, energy
prices and labor costs.

F&H estimated assets in excess of $100 million.  According to a
court filing, outstanding debt obligations total $119 million,
including $68.4 million owing on a first-lien loan with General
Electric Capital Corp. as agent.  The $11.2 million second-lien
obligation has Cerberus Business Finance LLC as agent.  Unsecured
trade suppliers and landlords are owed $11.2 million.

F & H Acquisition Corp., disclosed $122,115,200 in assets and
$122,579,631 in liabilities as of the Chapter 11 filing.

The senior lenders are to provide $9.6 million in financing for
the bankruptcy, with $3.5 million on an interim basis.

The parent holding company, F&H Acquisition Corp., is based in
Wichita, Kansas.

The Debtors have tapped Adam Friedman, Esq., at Olshan Frome
Wolosky LLP, in New York; and Robert S. Brady, Esq., Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware, as counsel;
Imperial Capital LLC as financial advisor; and Epiq Bankruptcy
Solutions as claims and noticing agent.

The U.S. Trustee has appointed seven members to an official
committee of unsecured creditors.  The Official Committee of
Unsecured Creditors is represented by Bradford J. Sandler, Esq.,
at Pachulski Stang Ziehl & Jones, LLP, in Wilmington, Delaware;
and Jeffrey N. Pomerantz, Esq., at Pachulski Stang Ziehl & Jones,
LLP, in Los Angeles, California.



F&H ACQUISITION: Court Okays Conditions to Continue Surety Bonds
----------------------------------------------------------------
F & H Acquisition Corp. received court approval for certain
conditions set by Liberty Mutual Insurance Co. to continue the
company's surety bond program.

F & H is required to post bonds under a management agreement it
recently made with Cerberus Business Finance LLC, the buyer of the
company's major assets.  The sale of F & H's assets was approved
by U.S. Bankruptcy Judge Kevin Gross in February.

Liberty, the long-time underwriter of the surety bond program,
agrees to continue the program on condition that all collateral it
held secures the obligations of F & H or Cerberus to the insurance
company, and that F & H's rights against the collateral will be
governed by the terms of their agreements.

Liberty also agrees to continue the surety bond program on
condition that the reimbursement obligations arising under the
program "shall be administrative obligations entitled to
priority pursuant to section 503(c) of the Bankruptcy Code,"
according to court filings.

                  About F & H Acquisition Corp.

Wichita, Kansas-based F & H Acquisition Corp., et al., owners of
the Fox & Hound, Champps, and Bailey's Sports Grille casual dining
restaurants, filed a Chapter 11 petition (Bankr. D. Del. Lead
Case No. 13-13220) on Dec. 16, 2013, to quickly sell their assets.

As of the bankruptcy filing, the Debtors have 101 restaurants
located in 27 states and 6,000 employees.  Sales decreased by
approximately 9 percent over the past two years.  The Debtors also
experienced significant inflation in commodity prices, energy
prices and labor costs.

F&H estimated assets in excess of $100 million.  According to a
court filing, outstanding debt obligations total $119 million,
including $68.4 million owing on a first-lien loan with General
Electric Capital Corp. as agent.  The $11.2 million second-lien
obligation has Cerberus Business Finance LLC as agent.  Unsecured
trade suppliers and landlords are owed $11.2 million.

F & H Acquisition Corp., disclosed $122,115,200 in assets and
$122,579,631 in liabilities as of the Chapter 11 filing.

The senior lenders are to provide $9.6 million in financing for
the bankruptcy, with $3.5 million on an interim basis.

The parent holding company, F&H Acquisition Corp., is based in
Wichita, Kansas.

The Debtors have tapped Adam Friedman, Esq., at Olshan Frome
Wolosky LLP, in New York; and Robert S. Brady, Esq., Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware, as counsel;
Imperial Capital LLC as financial advisor; and Epiq Bankruptcy
Solutions as claims and noticing agent.

The U.S. Trustee has appointed seven members to an official
committee of unsecured creditors.  The Official Committee of
Unsecured Creditors is represented by Bradford J. Sandler, Esq.,
at Pachulski Stang Ziehl & Jones, LLP, in Wilmington, Delaware;
and Jeffrey N. Pomerantz, Esq., at Pachulski Stang Ziehl & Jones,
LLP, in Los Angeles, California.


FIRST DATA: Appoints H. Miller as Director; CFO to Quit
-------------------------------------------------------
The Board of Directors of First Data Corporation voted to expand
the number of directors that constitute the Board from six to
seven and elected Heidi G. Miller as a director of the Company.

Prior to retiring in 2012, Ms. Miller was president of JPMorgan
International, a division of JPMorgan Chase & Co.  Before that she
served as CEO of JPMorgan Chase's Treasury and Security Services,
leading 35,000 people in 50 countries.  Ms. Miller also served as
executive vice president and chief financial officer for Bank One
Corporation and has held other CFO positions including at the
Travelers Group and later at Citigroup.  The Board may appoint Ms.
Miller to one or more committees of the Board but any appointment
will be determined at a future date.

There are no arrangements or understandings between Ms. Miller and
any other person pursuant to which she was selected to become a
member of the Board.

First Data Holdings Inc., the parent company of the Company, also
elected Ms. Miller to its board of directors and she will receive
the compensation for nonemployee directors not associated with
Kohlberg Kravis Roberts & Co. that has been set by the Holdings
Board of Directors.  That compensation consists of an annual cash
retainer of $75,000 paid in quarterly installments.  Those
directors also receive a restricted stock award of shares of
common stock of Holdings with a value of $125,000 on the date of
election.  For Ms. Miller, the number of shares will be 31,250
shares.  The awards will vest upon the later of three years from
the date of grant or the expiration of the lockup period following
an initial public offering of shares of Holdings.  Those directors
also receive a grant of options to acquire 500,000 shares of
common stock of Holdings with a strike price equal to the fair
market value at the date of grant as determined by the Holdings
Board of Directors.  For Ms. Miller, the strike price will be $4
per share.  The grant date is the date of election to the Board
and the options will vest equally over three years on the
anniversary of the grant and have a ten-year term.  Ms. Miller
also will be eligible to defer the cash retainer under the
Director Deferred Compensation Plan.

On April 17, 2014, the Company announced that over the next
several months Ray Winborne will be transitioning from his role as
the chief financial officer.

                          About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

First Data reported a net loss attributable to the Company of
$869.1 million in 2013, a net loss attributable to the Company of
$700.9 million in 2012 and a net loss attributable to the Company
of $516.1 million in 2011.  The Company's balance sheet at
Dec. 31, 2013, showed $35.23 billion in total assets, $33.47
billion in total liabilities, $69.1 million in redeemable
noncontrolling interest and $1.69 billion in total equity.

                           *     *     *

The Company carries a 'B3' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FIRST SECURITY: Signs Employment Agreements with Executives
-----------------------------------------------------------
First Security Group, Inc., and FSGBank, N.A., the Company's
wholly-owned subsidiary, entered into an employment agreement with
each of Michael Kramer, John R. Haddock, and Denise M. Cobb.  In
addition, the Bank entered into an employment agreement with
Christopher G. Tietz.

David Michael Kramer will serve as president and chief executive
officer of the Company and the president and chief executive
officer of the Bank.  Denise M. Cobb will act as executive vice
president and chief operations and technology officer of the
Company and the executive vice president and chief operations and
technology officer of the Bank.  John R. Haddock will be the
executive vice president, chief financial officer and secretary of
the Company and the executive vice president, chief financial
officer and secretary of the Bank.  Christopher Tietz  will serve
as the executive vice president and chief credit officer of the
Bank.

Each Employment Agreement provides for an initial term, to be
renewed automatically for a 12 month term if neither party has
given notice of intent not to renew.  The initial term of Mr.
Kramer's Employment Agreement is 36 months; the Employment
Agreements for Ms. Cobb, Mr. Haddock and Mr. Tietz each provide
for an initial term of 24 months.  Mr. Kramer's Employment
Agreement serves to terminate his previous Employment Agreement,
dated Dec. 28, 2011, as previously included in a Current Report on
Form 8-K dated Dec. 29, 2011.

Each Employment Agreement sets forth the executive's base salary,
which will be reviewed for adjustment at least annually.  The base
salaries in the Employment Agreements are $325,000 for Mr. Kramer,
$199,620 for Mr. Haddock, $239,700 for Mr. Tietz, and $180,245 for
Ms. Cobb.  Each executive is also eligible to receive annual
incentive compensation pursuant to the Company's and the Bank's
incentive compensation plans.  In addition, the executives will
receive an automobile allowance, business and professional
education expenses, and certain other benefit programs open to
other similarly situated employees of the Company and the Bank.
The Employment Agreements provide for clawback of that
compensation under certain circumstances.

The Employment Agreements provide for severance in the event of
certain terminations, including the executive's termination
without cause or the executive's resignation for good reason.  If
an executive is terminated without cause or resigns for good
reason during the term of the Employment Agreement and either (a)
prior to a change of control, or (b) more than 24 months following
a change in control, then that executive will be entitled to
severance equal to 12 months of the executive's base salary at the
time of termination.

If the executive is terminated without cause or resigns for good
reason during the 24 months following a change in control, the
executive is entitled to liquidated damages equal to 2.25 times
that executive's base salary at the time of termination (except
for Ms. Cobb, who is entitled to two times base salary), plus the
lesser of (a) 30 percent of the base salary then in place, or (b)
the average annual bonus received by the executive in the three
years immediately preceding the termination. For the purposes of
determining the average bonus, if a change in control occurs prior
to Jan. 1, 2017, only full calendar years commencing with the 2013
calendar year will be used in the calculation.

Each executive has also agreed not to compete and not to solicit
employees or customers of the Company or Bank for 12 months
following termination, regardless of cause, as well as standard
non-disclosure of confidential information and non-disparagement
provisions.

Each Employment Agreement is also subject to certain regulatory
limitations.

                     About First Security Group

First Security Group, Inc., is a bank holding company
headquartered in Chattanooga, Tennessee.  Founded in 1999, First
Security's community bank subsidiary, FSGBank, N.A. has 28 full-
service banking offices along the interstate corridors of eastern
and middle Tennessee and northern Georgia.  In Dalton, Georgia,
FSGBank operates under the name of Dalton Whitfield Bank; along
the Interstate 40 corridor in Tennessee, FSGBank operates under
the name of Jackson Bank & Trust.  FSGBank provides retail and
commercial banking services, trust and investment management,
mortgage banking, financial planning, internet banking
(www.FSGBank.com).

First Security incurred a net loss of $13.44 million in 2013, a
net loss of $37.57 million in 2012 and a net loss of $23.06
million in 2011.  As of Dec. 31, 2013, the Company had $977.57
million in total assets, $893.92 million in total liabilities and
$83.64 million in total shareholders' equity.


FREDERICK'S OF HOLLYWOOD: TTG Apparel Holds 86.1% Equity Stake
--------------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, TTG Apparel, LLC, Tokarz Investments, LLC,
and Michael T. Tokarz disclosed that as of April 14, 2014, they
beneficially owned 91,257,883 shares of common stock of
Frederick's of Hollywood Group Inc. representing 86.1 percent of
the shares outstanding.  The reporting persons previously owned
89,682,683 common shares at Dec. 18, 2013.  A copy of the
regulatory filing is available at http://is.gd/4wzXsm

                      Frederick's of Hollywood

Frederick's of Hollywood Group Inc. (NYSE Amex: FOH) --
http://www.fredericks.com/-- through its subsidiaries, sells
women's intimate apparel, swimwear and related products under its
proprietary Frederick's of Hollywood brand through 122 specialty
retail stores, a world-famous catalog and an online shop.

Frederick's of Hollywood sought bankruptcy in July 10, 2000.  On
Dec. 18, 2002, the court approved the company's plan of
reorganization, which became effective on Jan. 7, 2003, with the
closing of the Wells Fargo Retail Finance exit financing facility.

Mayer Hoffman McCann expressed substantial doubt about the
Company's ability to continue as a going concern, citing the
company has suffered recurring losses from continuing operations,
has negative cash flows from operations, has a working capital and
a shareholders' deficiency at July 27, 2013.

The Company reported a net loss of $22,522,000 on $86,507,000 of
net sales in 2013, compared with a net loss of $6,432,000 in 2012.
As of Jan. 25, 2014, the Company had $39.79 million in total
assets, $69.01 million in total liabilities and a $29.22 million
total shareholders' deficiency.


FUSION TELECOMMUNICATIONS: Amends 2013 Annual Report
----------------------------------------------------
Fusion Telecommunications International Inc. filed an amendment to
its annual report on Form 10-K for the fiscal year ended
Dec. 31, 2013, originally filed with the U.S. Securities and
Exchange Commission on March 31, 2014, to include the information
required by Part III (Items 10, 11, 12, 13 and 14).

Part III

Item 10. Directors, Executive Officers and Corporate Governance

Item 11. Executive Compensation.

Item 12. Security Ownership Of Certain Beneficial Owners and
         Management and Related Stockholder Matters

Item 13. Certain Relationships, Related Transactions, and Director
         Independence

Item 14. Principal Accounting Fees and Services

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

                        http://is.gd/cnVHrp

                   About Fusion Telecommunications

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

Fusion Telecommunications incurred a net loss applicable to common
stockholders of $5.48 million in 2013, a net loss applicable to
common stockholders of $5.61 million in 2012 and a net loss of
$4.45 million in 2011.  The Company's balance sheet at Dec. 31,
2013, shows $68.95 million in total assets, $62 million in total
liabilities and $6.95 million in total stockholders' equity.

Rothstein Kass, in New York, did not issue a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors previously
expressed substantial doubt about the Company's abilitity to
continue as a going concern in their report on the consolidated
financial statements for the year ended Dec. 31, 2012.  The
independent auditors noted that the Company has had negative
working capital balances, incurred negative cash flows from
operations and net losses since inception, and has limited capital
to fund future operations that raises a substantial doubt about
their ability to continue as a going concern.


GENCO SHIPPING: Commences Prepackaged Chapter 11 in SDNY
--------------------------------------------------------
Peter Georgiopoulos's Genco Shipping & Trading Ltd., an operator
of dry-bulk cargo ships, has sought bankruptcy protection.

Genco Shipping & Trading Limited and its subsidiaries other than
Baltic Trading Limited and its subsidiaries on April 21, 2014,
filed voluntary petitions for relief under Chapter 11 of the
United States Bankruptcy Code in the U.S. Bankruptcy Court for the
Southern District of New York to implement a prepackaged financial
restructuring that is expected to reduce the Company's total debt
by approximately $1.2 billion and enhance its financial
flexibility.

Genco, which owns or operates vessels that transport iron ore,
coal, grain, steel and other products worldwide, listed assets of
$2.4 billion and debt of $1.5 billion.

The Debtors plan to continue to operate their businesses in the
ordinary course as "debtors-in-possession" under the jurisdiction
of the Bankruptcy Court in accordance with the applicable
provisions of the Bankruptcy Code and orders of the Bankruptcy
Court.

The bankruptcy filing, Genco said, is consistent with its
previously disclosed Restructuring Support Agreement with certain
of the lenders under its $1.1 billion secured credit facility
entered into in 2007, its $253 million secured credit facility,
and its $100 million secured credit facility, as well as certain
holders of the Company's 5.00% Convertible Senior Notes due August
15, 2015.

Baltic Trading and its direct and indirect subsidiaries are not
included in the court-supervised restructuring.  Baltic Trading is
a separate public company from Genco, with an independent Board of
Directors and separate financing.  Baltic Trading is expected to
continue operating in the normal course.

As of February 28, 2014, the Debtors had consolidated assets
totaling approximately $2.448 billion and consolidated liabilities
totaling approximately $1.475 billion.  The consolidated assets
amount reflects the "book value" of the Company's vessels, which
is calculated as the cost of purchase less accumulated
depreciation over a 25-year useful life prepared in accordance
with GAAP.   However, "book value" is significantly higher than
the market value of the vessels.

For the 12 months ending February 28, 2014, the Debtors'
consolidated net voyage revenue was approximately $188.5 million.
Net voyage revenues are voyage revenues minus voyage expenses
(generally consisting of broker commissions and port, canal and
fuel costs unique to a particular voyage, which would otherwise be
paid by a charterer under a time charter).

                 Restructuring Support Agreement

"With the strong support of our lenders and noteholders, we are
moving forward with our previously announced restructuring plan,"
said John C. Wobensmith, Chief Financial Officer.  "We believe the
financial restructuring will provide an expedited path to
significantly strengthen Genco's balance sheet and improve the
Company's financial flexibility.  Our operations are strong, and
once our restructuring is completed, we believe we will be well-
positioned for continued growth and success.  We continue to
leverage our efficient cost structure and opportunistic time
charter approach to manage through the drybulk shipping cycle.  We
look forward to continuing to provide our chartering customers the
same high quality, reliable shipping services they've come to
consistently expect from Genco."

The terms of the restructuring include, among other things:

     * The 2007 Facility Lenders will convert all of their
prepetition senior secured debt into 81.1% of the equity of the
reorganized company;

     * The entirety of the Company's obligations under the $253
million and $100 million facilities will be replaced by new senior
facilities with extended maturity dates through August 2019 and
certain other covenant modifications;

     * The Company's obligations under the Convertible Senior
Notes will be converted into 8.4% of the equity of the reorganized
company;

     * The reinstatement of all other general unsecured claims,
which will be paid in the ordinary course of business;

     * The cancellation of all equity interests in the Company,
with such equity interests receiving seven year warrants for 6.0%
of the New Genco Equity struck at a $1.295 billion equity
valuation (the "New Genco Warrants") from the consideration that
would otherwise be provided to the holders of Prepetition 2007
Facility Claims and Convertible Note Claims (each as defined in
the Prepack Plan) in exchange for the cancellation or surrender of
such equity interests; and

     * Genco will conduct a $100 million rights offering for 8.7%
of the pro forma equity of the reorganized company. The 2007
Facility Lenders will have the right to participate in up to 80%
of the rights offering, which portion will be backstopped by
certain of the 2007 Facility Lenders, and eligible holders of
Convertible Notes will have the right to participate in up to 20%
of the rights offering, which portion will be backstopped by
certain of the Convertible Noteholders.

                           Prepack Plan

To implement the terms of the restructuring, Genco and 57 of its
direct and indirect subsidiaries were expected to file a
prepackaged plan of reorganization and related disclosure
statement Monday, each of which will contain details of the
financial restructuring.  The Plan has the support of 100% of the
2007 Facility Lenders, 100% of the $253 Million Facility Lenders
and the $100 Million Facility Lenders, and over 83% of the
Noteholders.  The Company expects to implement and emerge from the
court-supervised process on an accelerated basis.

Genco expects that cash on hand, cash from operating activities,
and cash expected to be made available under a cash collateral
order will be sufficient to fund its projected cash needs during
its financial restructuring, and therefore does not intend to seek
debtor-in-possession (DIP) financing.

                        First Day Motions

In conjunction with the filings, the Company also expects to file
a variety of customary motions to continue to support its
employees, customers and vendors during the financial
restructuring process.  The Company expects to file motions
seeking permission to continue to pay trade creditor and foreign
vendor balances incurred before and after the filing in full and
in the normal course.  The Company expects to receive court
approval for these requests.  During the restructuring process,
the Company anticipates operating as usual, meeting all its
obligations, and expects to implement the restructuring and emerge
from the court-supervised process expeditiously.

Kramer Levin Naftalis & Frankel LLP is serving as legal advisor
and Blackstone Advisory Partners LP is serving as financial
advisor to the Company.

Genco said in a regulatory filing with the Securities and Exchange
Commission that the Chapter 11 filing constituted an event of
default with respect to each of these agreements or instruments:

     1. the Credit Agreement, dated as of July 20, 2007 (as
amended to date), by and among the Company as borrower, the banks
and other financial institutions named therein as lenders,
Wilmington Trust, N.A., as successor administrative and collateral
agent, and the other parties thereto, relating to approximately
$1,055.6 million of principal plus accrued and unpaid interest,
fees, costs, and other expenses;

     2. the Loan Agreement, dated as of August 20, 2010 (as
amended to date), by and among the Company as borrower, Genco
Aquitane Limited and the other subsidiaries of the Company
named therein as guarantors, the banks and financial institutions
named therein as lenders, BNP Paribas, Credit Agricole Corporate
and Investment Bank, DVB Bank SE, Deutsche Bank AG Filiale
Deutschlandgeschaft, Skandinaviska Enskilda Banken AB (publ) as
mandated lead arrangers, BNP Paribas, Credit Agricole Corporate
and Investment Bank, DVB Bank SE, Deutsche Bank AG, Skandinaviska
Enskilda Banken AB (publ) as swap providers, and Deutsche Bank
Luxembourg S.A. as agent for the lenders and the assignee,
relating to approximately $175.7 million of principal and accrued
and unpaid interest, fees, costs, and other expenses;

     3. the Loan Agreement, dated as of August 12, 2010 (as
amended to date), by and among the Company as borrower, Genco
Ocean Limited and the other subsidiaries of the Company named
therein as guarantors, the banks and financial institutions named
therein as lenders, and Credit Agricole Corporate and Investment
Bank as agent and security trustee, relating to approximately
$73.6 million of principal plus accrued and unpaid interest, fees,
costs, and other expenses;

     4. the Indenture and First Supplemental Indenture relating to
$125 million of principal plus accrued and unpaid interest
outstanding of the Company's 5.00% Convertible Senior Notes due
August 15, 2015;

     5. the outstanding interest rate swap with DnB NOR Bank,
relating to a liability position of approximately $6.7 million as
of March 31, 2014.

As a result of the filing of the Chapter 11 Cases, all
indebtedness outstanding under the 2007 Credit Agreement and the
Indenture was accelerated and became due and payable, and
indebtedness under the other agreements and instruments can be
accelerated and become due and payable upon notice to the Company,
subject to an automatic stay of any action to collect, assert, or
recover a claim against the Company or the other Debtors and the
application of the applicable provisions of the Bankruptcy Code.

Genco also warned that, "seeking bankruptcy relief may affect our
relationships with, and our ability to negotiate favorable terms
with, creditors, customers, charterers, vendors, employees, and
other personnel and counterparties, and the failure to maintain
any of these important relationships could adversely affect our
business, financial condition and results of operations.  Certain
sub-charterers and other customers of some of our charterers have
recently expressed reluctance to utilize our vessels given the
perceived negative consequences of a bankruptcy filing.  As a
result, some of our charterers may hesitate to continue doing
business with us on historical terms or at all when our current
charters expire."

Genco believes that the Chapter 11 Cases and the expedited
confirmation of the Prepack Plan (if so confirmed) will allow the
Company to restructure its indebtedness while maintaining its
operations in the ordinary course.  However, the Company can
provide no assurance that the Prepack Plan will be confirmed on
the timetable currently contemplated or at all or that the Company
will be successful in allaying the concerns.

                       *     *     *

The shipping industry has suffered from a glut of vessels after
buying too many before the 2008 global recession, driving down
rates and saddling companies with debt, Bloomberg News quoted Erik
Nikolai Stavseth, an Oslo-based analyst at Arctic Securities ASA.

"They were all victims of the exuberance we saw in the shipping
market in the mid- to late-2000s," the news agency cited Stavseth
as saying in an interview before the bankruptcy filing. "High
leverage on expensive assets is what killed them."

            About Genco Shipping & Trading Limited

New York-based Genco Shipping & Trading Limited (NYSE: GNK)
transports iron ore, coal, grain, steel products and other drybulk
cargoes along worldwide shipping routes.  Excluding Baltic Trading
Limited's fleet, Genco Shipping owns a fleet of 53 drybulk
vessels, consisting of nine Capesize, eight Panamax, 17 Supramax,
six Handymax and 13 Handysize vessels, with an aggregate carrying
capacity of approximately 3,810,000 dwt.  In addition, Genco
Shipping's subsidiary Baltic Trading Limited currently owns a
fleet of 13 drybulk vessels, consisting of four Capesize, four
Supramax, and five Handysize vessels.


GENCO SHIPPING: NYSE Trading Suspended Following Bankruptcy
-----------------------------------------------------------
Genco Shipping & Trading Limited on April 21, 2014, received
notice from the New York Stock Exchange, Inc. that the NYSE had
determined that the Company's common stock should be immediately
suspended from trading on the NYSE.  The NYSE indicated that this
decision was reached as a result of the filing by the Company and
the other Debtors of the Chapter 11 Cases under the Bankruptcy
Code in the Bankruptcy Court pursuant to Listed Company Manual
Section 802.01D.

The Company intends to inform the NYSE that it does not intend to
take any further action to appeal the NYSE's decision. Therefore,
it is expected that the Company's common stock will be delisted
after the completion of the NYSE's application to the Securities
and Exchange Commission to delist the Company's common stock.  The
Company believes that its common stock will commence trading on
the over-the-counter market following suspension of trading on the
NYSE.

Under the Management Agreement dated as of March 15, 2010 by and
between the Company and its subsidiary, Baltic Trading Limited, as
amended to date, Baltic Trading has the right to terminate the
Management Agreement without making a termination payment, among
other things, if the Company's common stock ceases to be traded on
the NYSE or any other internationally recognized stock exchange.
As a result of the actions of which the NYSE has given the Company
notice, Baltic Trading may therefore have the right so to
terminate the Management Agreement, subject to applicable law.

            About Genco Shipping & Trading Limited

New York-based Genco Shipping & Trading Limited (NYSE: GNK)
transports iron ore, coal, grain, steel products and other drybulk
cargoes along worldwide shipping routes.  Excluding Baltic Trading
Limited's fleet, Genco Shipping owns a fleet of 53 drybulk
vessels, consisting of nine Capesize, eight Panamax, 17 Supramax,
six Handymax and 13 Handysize vessels, with an aggregate carrying
capacity of approximately 3,810,000 dwt.  In addition, Genco
Shipping's subsidiary Baltic Trading Limited currently owns a
fleet of 13 drybulk vessels, consisting of four Capesize, four
Supramax, and five Handysize vessels.


GENCO SHIPPING: Case Summary & 40 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor affiliates that filed for Chapter 11 bankruptcy petitions:

       Debtor                                  Case No.
       ------                                  --------
       Genco Shipping & Trading Limited        14-11108 (SHL)
       299 Park Avenue, 12th Floor
       New York, NY 10171

       Genco Acheron Limited                 14-11115 (SHL)

       Genco Aquitaine Limited           14-11116 (SHL)

       Genco Ardennes Limited                 14-11119 (SHL)

       Genco Augustus Limited                 14-11121 (SHL)

       Genco Auvergne Limited                 14-11123 (SHL)

       Genco Avra Limited                 14-11125 (SHL)

       Genco Bay Limited                 14-11127 (SHL)

       Genco Beauty Limited                 14-11129 (SHL)

       Genco Bourgogne Limited           14-11131 (SHL)

       Genco Brittany Limited                 14-11133 (SHL)

       Genco Carrier Limited                 14-11136 (SHL)

       Genco Cavailer LLC                 14-11137 (SHL)

       Genco Challenger Limited           14-11140 (SHL)

       Genco Champion Limited                 14-11142 (SHL)

       Genco Charger Limited                 14-11144 (SHL)

       Genco Claudius Limited                 14-11146 (SHL)

       Genco Commodus Limited                 14-11148 (SHL)

       Genco Constantine Limited           14-11114 (SHL)

       Genco Explorer Limited                 14-11118 (SHL)

       Genco Hadrian Limited                 14-11122 (SHL)

       Genco Hunter Limited                 14-11126 (SHL)

       Genco Investment LLC                 14-11111 (SHL)

       Genco Knight Limited                 14-11130 (SHL)

       Genco Languedoc Limited           14-11134 (SHL)

       Genco Leader Limited                 14-11139 (SHL)

       Genco Loire Limited                 14-11143 (SHL)

       Genco London Limited                 14-11150 (SHL)

       Genco Lorraine Limited                 14-11151 (SHL)

       Genco Management (USA) LLC           14-11110 (SHL)

       Genco Mare Limited                 14-11153 (SHL)

       Genco Marine Limited                 14-11113 (SHL)

       Genco Maximus Limited                 14-11117 (SHL)

       Genco Muse Limited                 14-11120 (SHL)

       Genco Normandy Limited                 14-11124 (SHL)

       Genco Ocean Limited                 14-11128 (SHL)

       Genco Picardy Limited                 14-11132 (SHL)

       Genco Pioneer Limited                 14-11135 (SHL)

       Genco Predator Limited                 14-11138 (SHL)

       Genco Progress Limited                 14-11141 (SHL)

       Genco Prosperity Limited           14-11138 (SHL)

       Genco Provence Limited                 14-11141 (SHL)

       Genco Pyrenees Limited                 14-11112 (SHL)

       Genco Raptor LLC                       14-11147 (SHL)

       Genco RE Investments LLC           14-11112 (SHL)

       Genco Reliance Limited                 14-11109 (SHL)

       Genco Rhone Limited                 14-11152 (SHL)

       Genco Ship Management LLC           14-11109 (SHL)

       Genco Spirit Limited                 14-11154 (SHL)

       Genco Success Limited                 14-11155 (SHL)

       Genco Sugar Limited                 14-11158 (SHL)

       Genco Surprise Limited                 14-11159 (SHL)

       Genco Thunder LLC                 14-11160 (SHL)

       Genco Tiberius Limited           14-11161 (SHL)

       Genco Titus Limited                 14-11162 (SHL)

       Genco Vigour Limited                 14-11163 (SHL)

       Genco Warrior Limited                 14-11164 (SHL)

       Genco Wisdom Limited                 14-11165 (SHL)

Type of Business: Operator of Dry-Bulk Cargo Ships

Chapter 11 Petition Date: April 21, 2014

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Hon. Sean H. Lane

Debtors' Counsel: Adam C. Rogoff, Esq.
                  Kenneth H. Eckstein, Esq.
                  Stephen D. Zide, Esq.
                  Anupama Yerramalli, Esq.
                  Stephen M. Blank, Esq.
                  KRAMER LEVIN NAFTALIS & FRANKEL LLP
                  1177 Avenue of the Americas
                  New York, NY 10036
                  Tel: (212) 715-9285
                  Fax: (212) 715-8000
                  Email: arogoff@kramerlevin.com
                         keckstein@kramerlevin.com
                         szide@kramerlevin.com
                         ayerramalli@kramerlevin.com
                         sblank@kramerlevin.com

Debtors'          Blackstone Advisory Partners, L.P.
Financial         345 Park Avenue, 30th Floor
Advisors:         New York, NY 10154

Debtors' Claims   GCG, INC.
and Noticing      P.O. Box 10054
Agent:            Dublin, Ohio 43017-6654
                  Toll-Free: (888) 213-9318
                  International Toll: (614) 763-6125
                  Email: GencoRestructuring@gcginc.com

Total Assets: $2.448 billion

Total Debts: $1.475 billion

The petitions were signed by John C. Wobensmith, chief financial
officer.

Consolidated List of Debtors' 40 Largest Unsecured Creditors:

   Entity                          Nature of Claim  Claim Amount
   ------                          ---------------  ------------
The Bank of New York Mellon         Bond Debt       $125,000,000
Corporate Finance Division
525 William Penn Place, 38th Floor
Pittsburgh, PA 15259
Attention: Corporate Trust Division
Corporate Finance Unit
Facsimile: (412) 234-1209

Wallem Ship Management Limited        Trade         $7,766,104
12/F Warwick House East Taikoo
Place 979 King's Road
Quarry Bay, Hong Kong
Tel: 852-2876-8200
Fax: 852-2876-1234
Email: wsmhk@wallem.com
       rms@wallem.com

Chengxi Shipyard and Co Ltd.           Trade        $2,584,900
No 1 Hengshan Road
Jiangyin Jiangsu, China

Anglo Eastern Ship Management          Trade        $2,175,785
23rd Floor
248 Queen's Road East
Wanchai, Hong Kong
Tel: 852-2863-6111
Fax: 852-2861-2419
Email: Notices.hkg@angloeasterngroup.com

V.Ships UK                             Trade        $1,394,381
1st Floor
63 Queen Victoria Street
London EC4N 4UA
United Kingdom
Tel: 44-141-243-2435
Fax: 44-141-243-2436
Email: john.brechin@vships.com

Leeds & Leeds Inc.                     Insurance    $455,375
74 Trinity Place
New York, NY 10006

United Kingdom Mutual Steamship        Insurance    $99,378

Skuld                                  Insurance    $78,468

Gard As                                Insurance    $58,196

NYSE Market, Inc.                      Insurance    $45,016

Thomson Reuters (Markets) LLC          Trade        $41,701

Winter Scott Solicitors                Trade        $39,381

Hyundae Express Co., Ltd.              Trade        $28,861

ICAP Shipping USA Inc.                 Trade        $25,096

Rs Platou                              Trade        $15,474

Bancosta                               Trade        $15,385

DNV GL AS                              Trade        $11,365

BBT Tradeship LLC                      Trade        $10,471

Peraco Chartering (USA) LLC            Trade        $7,018

Wallem Shipbroking (HK) Ltd.           Trade        $6,448

Clarkson                               Trade        $4,413

SSY London                             Trade        $3,359

JF Dillon & Co, LLC                    Trade        $711

Venepandi                              Trade        $531

Staples                                Trade        $437

Penguin Maintenance                    Trade        $381

W.B. Mason Co. Inc                     Trade        $318

Fedex                                  Trade        $239

Arrow Ship                             Trade        $150

VS Chartering, Inc.                    Trade        $129

Western Bulk Carriers               Customer Claim  Contingent

Trafigura Beheer BV                 Customer Claim  Contingent

Pacific Basin Chartering Ltd        Customer Claim  Contingent

Pioneer Navigation Ltd              Customer Claim  Contingent

Lauritzen Bulkers A/S               Customer Claim  Contingent

ED & F MAN SHIPPING                 Customer Claim  Contingent

Thoresen Shipping Singapore         Customer Claim  Contingent

Hamburg Bulk Carriers               Customer Claim  Contingent

NYK Bulkship Europe Ltd.            Customer Claim  Contingent

Cargill International SA            Customer Claim  Contingent


GENIUS BRANDS: Issues Letter to Shareholders
--------------------------------------------
Genius Brands International, Inc., distributed a letter on
April 17, 2014.

Dear Shareholders and Friends:

With the filing of the 10K for 2013 this week, the company has
filed its first annual report following the acquisition of A
Squared Entertainment LLC.  It's important for our friends and
investors to understand clearly, that for the most part this
report reflects the "Old Genius Brands Company" because, since the
acquisition of A Squared in November 2013, Genius Brands
International is a very different and new company.

New management, new board, new asset base, new client base, and a
new business model.  The new Genius Brands International has an
improved balance sheet with cash in the bank, no institutional
debt, growing receivables, and a substantial catalogue of valuable
entertainment IP.

The management team led by Amy and myself comes from long careers
of value creation and asset building for shareholders.

Besides running a successful and profitable independent
entertainment company for many years and producing over 5,000
episodes of award winning children's content, I ran an independent
unit of Cap Cities/ABC (later The Walt Disney Company) which I
eventually spun off into its own company that I took public.
Amy's pedigree also comes from The Walt Disney Company, where she
was part of the original team that launched the Disney Cruise
Lines, and later became Director of Global Marketing for
McDonalds.  The rest of the team we engaged in the new Genius
Brands International is equally accomplished, including numerous
Emmy winners and well recognized creators.  We have brought in a
highly credentialed new finance team, a strong new board of
outside directors, and are implementing rigorous financial
disciplines.

Based on our mantra, "content with a purpose," we are proud to be
building a 21st century digital entertainment kids company.  The
architecture of this company will enable it to seek out value for
its shareholders in today's digital environment, and the future.
Our content will not only be based on the legacy of the Baby
Genius brand, but on important pillar brands for older kids such
as Stan Lee Comics, Warren Buffett's Secret Millionaires Club, and
a dynamic pipeline providing a seamless flow of content for
toddlers through tweens.

Since the end of 2013, we have put business in place with some of
the most important networks, distributors, retailers, and
licensees in the kids business.

They include Sony, Comcast, Netflix, Wal Mart, Target, Leap Frog,
Bertelsman Music Group, American Public Television, Cinedigm, and
The HUB, among many others.  We have just launched our own digital
streaming subscription service for Baby Genius content
(BabyGenius.com), and we are launching today with Sony Generator,
our online Secret Millionaires Club store. Speaking of Secret
Millionaires Club, our animated series starring Warren Buffett
teaching kids lessons in financial literacy, we have been invited
by Warren to exhibit at this year's annual Berkshire Hathaway
shareholder's meeting, along with all of the Berkshire portfolio
companies, two weeks from now in Omaha.

It is a very exciting time for all of us in the NEW Genius Brands
International.  We are proud to be creating quality and timeless
entertainment for toddlers through tweens..."content with a
purpose" and consumer products from that content, which we will
deliver across all formats worldwide.  Stay tuned as we build
value!


Andy Heyward


Chairman and CEO

                         About Genius Brands

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

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


GRIDWAY ENERGY: Employs Patton Boggs as Lead Bankruptcy Counsel
---------------------------------------------------------------
Gridway Energy Holdings, Inc., et al., seek authority from the
U.S. Bankruptcy Court for the District of Delaware to employ
Patton Boggs LLP as bankruptcy co-counsel.

The scope of the professional services that Patton will provide on
behalf of the Debtors include consulting with the Debtors
concerning their powers and duties as debtors in possession, the
continued operation of their businesses, and the management of the
financial and legal affairs of their estates.

The hourly rates applicable to attorneys and paralegals
contemplated to represent the Debtors are as follows:

   Mark A. Salzberg, Esq.              $730
   Alan M. Noskow, Esq.                $640
   Barry E. Reiferson, Esq.            $565
   Aaron A. Boschee, Esq.              $505
   Erik M. Dullea, Esq.                $475
   Alexander M. Arensberg, Esq.        $330
   William James                       $275

The firm will also be reimbursed for any necessary out-of-pocket
expenses.

Patton has acted as the Debtors' outside general counsel for
nearly four years and as such has become familiar with the
Debtors' businesses and affairs and many of the potential legal
issues, which may arise in the context of the Chapter 11 cases.
In March 2014, the Debtors retained Patton to provide general
bankruptcy and restructuring advice, to assist with a possible
out-of-court workout and restructuring in Chapter 11 bankruptcy,
and the eventual planning and preparation for filing the Chapter
11 cases pursuant to an engagement agreement dated March 11, 2014.

With respect to the bankruptcy matter, Patton received
approximately $629,034 during the 90-day period prior to the
Petition Date and did not receive any payments related to the
bankruptcy matter prior to that 90-day period.  With respect to
non-bankruptcy matters, Patton received approximately $483,845
during the 90-day period prior to the Petition Date and received
approximately $1,053,747 in payments during the period between
one-year prior to the Petition Date and 90 days prior to the
Petition Date.

The firm assures the Court that it 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.

A hearing on the employment application is scheduled for May 6,
2014, at 1:00 p.m. (ET).  Objections are due April 29.

                    About Gridway Energy

Gridway Energy Holdings, Inc., a provider of electricity and
natural gas sought protection under Chapter 11 of the Bankruptcy
Code on April 10, 2014 (Case No. 14-10833, Bankr. D. Del.).  The
case is before Judge Christopher S. Sontchi.

The Debtors' General Counsel is Alan M. Noskow, Esq., and Mark A.
Salzberg, Esq., at PATTON BOGGS LLP, in Washington, D.C.  The
local Delaware counsel is Joseph M. Barry, Esq., Donald J. Bowman,
Jr., Esq., and Michael R. Nestor, Esq., at YOUNG, CONAWAY,
STARGATT & TAYLOR, LLP, in Wilmington, Delaware.  The Debtors'
Claims and Noticing Agent is OMNI MANAGEMENT GROUP, LLC.


GRIDWAY ENERGY: Taps Young Conaway as Local Delaware Counsel
------------------------------------------------------------
Gridway Energy Holdings, Inc., et al., seek authority from the
U.S. Bankruptcy Court for the District of Delaware to employ Young
Conaway Stargatt & Taylor, LLP, as local Delaware counsel.

The professional services that Young Conaway will render to the
Debtors include, but will not be limited to, providing legal
advice with respect to the Debtors' powers and duties as debtors
in possession in the continued operation of their business,
management of their properties, and the sale of their assets.

The principal attorneys and paralegal presently designated to
represent the Debtors and their current standard hourly rates are:

   Michael R. Nestor, Esq.            $695
   Joseph M. Barry, Esq.              $585
   Donald J. Bowman, Esq.             $440
   Travis G. Buchanan, Esq.           $300
   Troy Bollman                       $170

The firm will also be reimbursed for any necessary out-of-pocket
expenses.

On March 28, 2014, Young Conaway received a retainer in the amount
of $75,000, and on April 7, 2014, Young Conaway received an
additional retainer of $118,856, in connection with the planning
and preparation of initial documents, its proposed postpetition
representation of the Debtors, and Chapter 11 filing fees.

Mr. Barry, a partner at Young Conaway Stargatt & Taylor, LLP, in
Wilmington, Delaware, assures the Court that his 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.

Randy Lehnnan, chief executive officer of Glacial Energy VI, LLC,
and president, treasurer, and secretary of each of its affiliated
debtors, says the Debtors have approved a prospective budget for
the Debtors' professionals, including Young Conaway, for the
period from the Petition Date through approximately July 17, 2014.

A hearing on the employment application is scheduled for May 6,
2014, at 1:00 p.m. (ET).  Objections are due April 29.

                    About Gridway Energy

Gridway Energy Holdings, Inc., a provider of electricity and
natural gas sought protection under Chapter 11 of the Bankruptcy
Code on April 10, 2014 (Case No. 14-10833, Bankr. D. Del.).  The
case is before Judge Christopher S. Sontchi.

The Debtors' General Counsel is Alan M. Noskow, Esq., and Mark A.
Salzberg, Esq., at PATTON BOGGS LLP, in Washington, D.C.  The
local Delaware counsel is Joseph M. Barry, Esq., Donald J. Bowman,
Jr., Esq., and Michael R. Nestor, Esq., at YOUNG, CONAWAY,
STARGATT & TAYLOR, LLP, in Wilmington, Delaware.  The Debtors'
Claims and Noticing Agent is OMNI MANAGEMENT GROUP, LLC.


GRIDWAY ENERGY: Hires RPA Advisors as Financial Consultants
-----------------------------------------------------------
Griway Energy Holdings, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ RPA
Advisors, LLC, to provide financial advisory and consulting
services to the Debtors in connection with the commencement and
prosecution of their Chapter 11 cases.

RPA's current hourly rates are as follows:

   Executive directors           $595-$795
   Consulting Staff              $215-$485
   Support Staff                 $135-$215

In addition to compensation for professional services rendered by
RPA personnel, RPA will also seek reimbursement for reasonable and
necessary expenses incurred in connection with the Chapter 11
cases.  RPA has agreed that its hourly fees per month, excluding
out-of-pocket expenses, will not exceed a cumulative cap of
$50,000 per month.

On April 15, 2014, RPA received a retainer in the amount of
$50,000, which RPA intends to apply to postpetition invoices as
they become due.

Chip Cummins, an executive director and member of RPA Advisors,
LLC, assures the Court that his 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.

A hearing on the employment application is scheduled for May 6,
2014, at 1:00 p.m. (ET).  Objections are due April 29.

                    About Gridway Energy

Gridway Energy Holdings, Inc., a provider of electricity and
natural gas sought protection under Chapter 11 of the Bankruptcy
Code on April 10, 2014 (Case No. 14-10833, Bankr. D. Del.).  The
case is before Judge Christopher S. Sontchi.

The Debtors' General Counsel is Alan M. Noskow, Esq., and Mark A.
Salzberg, Esq., at PATTON BOGGS LLP, in Washington, D.C.  The
local Delaware counsel is Joseph M. Barry, Esq., Donald J. Bowman,
Jr., Esq., and Michael R. Nestor, Esq., at YOUNG, CONAWAY,
STARGATT & TAYLOR, LLP, in Wilmington, Delaware.  The Debtors'
Claims and Noticing Agent is OMNI MANAGEMENT GROUP, LLC.


GRIDWAY ENERGY: Employs Houlihan Lokey as Investment Banker
-----------------------------------------------------------
Gridway Energy Holdings, Inc., et al., seek authority from the
U.S. Bankruptcy Court for the District of Delaware to employ
Houlihan Lokey Capital, Inc., to provide investment banking
services to the Debtors in connection with the prosecution of
their Chapter 11 cases.

The firm will be paid an initial fee amount of $100,000, payable
on the effective date of the engagement letter, and monthly fees
in the amount of $100,000.  The firm will also be paid a
transaction fee equal to 2% of the aggregate gross consideration,
plus 4% of the AGC above the Threshold.  The transaction fee is
subject to a $1,000,000 minimum.  The "threshold" will be the
greater of (i) the credit bid amount by EDF Trading North America,
LLC, Vantaga Commodities Financial Services LLC, or one of its
affiliates, or (ii) $35 million plus an amount equal to the
outstanding borrowings under the DIP Loan at the time the
transaction closes.  In addition to compensation for professional
services, Houlihan Lokey will seek reimbursement for reasonable
and necessary expenses incurred in connection with the Chapter 11
cases.

Michael H. Boone, a director of Houlihan Lokey Capital, Inc.,
assures the Court that his 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.  Mr. Boone discloses that his firm has received $100,000
as monthly fee and $44,003 as total expense reimbursement in the
90-day period before the Petition Date.

A hearing on the employment application is scheduled for May 6,
2014, at 1:00 p.m. (ET).  Objections are due April 29.

                    About Gridway Energy

Gridway Energy Holdings, Inc., a provider of electricity and
natural gas sought protection under Chapter 11 of the Bankruptcy
Code on April 10, 2014 (Case No. 14-10833, Bankr. D. Del.).  The
case is before Judge Christopher S. Sontchi.

The Debtors' General Counsel is Alan M. Noskow, Esq., and Mark A.
Salzberg, Esq., at PATTON BOGGS LLP, in Washington, D.C.  The
local Delaware counsel is Joseph M. Barry, Esq., Donald J. Bowman,
Jr., Esq., and Michael R. Nestor, Esq., at YOUNG, CONAWAY,
STARGATT & TAYLOR, LLP, in Wilmington, Delaware.  The Debtors'
Claims and Noticing Agent is OMNI MANAGEMENT GROUP, LLC.


GYMBOREE CORP: Bank Debt Trades at 12% Off
------------------------------------------
Participations in a syndicated loan under which Gymboree Corp is a
borrower traded in the secondary market at 88.05 cents-on-the-
dollar during the week ended Friday, April 18, 2014, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents an increase of 0.55
percentage points from the previous week, The Journal relates.
Gymboree Corp pays 350 basis points above LIBOR to borrow under
the facility.  The bank loan matures on Feb. 23, 2018.  The bank
debt carries Moody's B2 and Standard & Poor's B- rating.  The loan
is one of the biggest gainers and losers among 204 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.

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


H. B. NEWMAN: Case Summary & 16 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: H. B. Newman Holding Company
        5789 Arrowhead Drive
        Virginia Beach, VA 23462

Case No.: 14-71436

Chapter 11 Petition Date: April 20, 2014

Court: United States Bankruptcy Court
       Eastern District of Virginia (Norfolk)

Judge: Hon. Frank J. Santoro

Debtor's Counsel: John D. McIntyre, Esq.
                  WILSON & MCINTYRE, PLLC
                  500 East Main Street, Suite 920
                  Norfolk, VA 23510
                  Tel: (757) 961-3900
                  Email: jmcintyre@wmlawgroup.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Harry B. Newman, president.

A list of the Debtor's 16 largest unsecured creditors is available
for free at http://bankrupt.com/misc/vaeb14-71436.pdf


INTERFAITH MEDICAL: Committee Asserts Plan is Unconfirmable
-----------------------------------------------------------
The Official Committee of Unsecured Creditors argues that the
Disclosure Statement filed by Interfaith Medical Center, Inc.,
should not be approved because it describes a plan for the Debtor
that is patently unconfirmable.

Martin G. Bunin, Esq., of Alston & Bird LLP, on behalf of the
Committee, elaborated, "The Plan does not provide for payment in
full of Administrative Claims, Postpetition Medical Malpractice
Claims, and/or Priority Claims, and it impermissibly provides for
the liquidation of the Postpetition Medical Malpractice Claims.
The Plan improperly allows DASNY [or the Dormitory Authority of
the State of New York] to vote its postpetition DIP Claims and
impermissibly places all of the disparate DASNY Claims into a
single class.  The Plan grants impermissible non-debtor releases."

"Approving and distributing a Disclosure Statement regarding such
a deficient Plan would be futile because the Plan cannot, as a
matter of law, be confirmed in the form described by the
Disclosure Statement," Mr. Bunin said.

"Even ignoring the fact that the Plan is unconfirmable, the
Disclosure Statement should not be approved because it does not
provide adequate information regarding the Plan," Mr. Bunin
maintained.

He pointed out that, among other things: added, pointing out that
the Plan nor the Disclosure Statement:

  (a) The Plan nor the Disclosure Statement do not describe all
      the assets to be included in the Liquidating Trust;

  (b) The Disclosure Statement do not describe the sources of
      funding to be used to fund the Plan;

  (c) The Plan nor the Disclosure Statement do not identify the
      causes of action to be transferred to he Liquidating Trust;
      and

   (d) The Disclosure Statement lacks a liquidation analysis.

The Debtor filed its Plan and Disclosure Statement on March 21,
2014.

DASNY is the Debtor's bankruptcy secured lender.  It also is the
Debtor's prepetition secured lender.  According to the Disclosure
Statement, the Debtor's obligatons under the DIP Loan facility
total approximately $45.1 million.

Craig E. Freeman, Esq., of Alston & Bird LLP, also serve as
counsel to the Debtor.

                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: PBGC Objects to Plan Outline Approval
---------------------------------------------------------
The Pension Benefit Guaranty Corp. -- on its own and on behalf of
the Health Service Retirement Plan and the Interfaith Medical
Center Nurses Pension Plan -- complains that the Disclosure
Statement filed by Interfaith Medical Center, Inc., should not be
approved as it fails to provide "adequate information".

The PBGC is the government agency that monitors most private
defined-benefit pension plans.  The Debtor is known to have
Pension Plans that cover approximately 1,437 employees, former
employees or retirees.

The PBGC is concerned that the Disclosure Statement does not
provide any information about the Pension Plans, the Debtor's
intentions with respect to the Pension Plans, or potential
liability to PBGC.

Moreover, the PBGC contends that the release provisions under the
Plan are overly broad.

Accordingly, the PBGC asks the Court to require the Debtor to make
the necessary modifications to the Plan and Disclosure Statement.

The PBGC is represented:

          Israel Goldowitz, Esq.
          Charles L. Finke, Esq.
          Jon M. Chatalian, Esq.
          Pension Benefit Guaranty Corporation
          Office of the Chief Counsel
          1200 K Street, N.W., Suite 340
          Washington, DC 20005
          Tel No: (202) 326-4020
          Email: chatalian.jon@pbgc.gov
                 efile@pbgc.gov

                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.


IXIA: Has Until April 30 to Regain Nasdaq Listing Compliance
------------------------------------------------------------
Ixia on April 17 disclosed that the Audit Committee of the
company's Board of Directors has concluded that the company's
previously issued condensed consolidated financial statements
contained in its Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2013 and June 30, 2013 should no longer be relied
upon and should be restated.

As previously reported, on February 26, 2014, the Audit Committee
completed an internal investigation, which included performing
procedures to assess the company's recording of financial
transactions and the corresponding impact on the company's
financial reporting.  Through the internal investigation and the
company's own internal accounting review, the company identified
certain errors, as described below.

Certain identified errors in the company's revenue recognition
practices involved the company's incorrect assessment of and
accounting for certain sales transactions which led to revenue
being recognized prematurely for: 1) an extended maintenance and
warranty arrangement that included a fixed fee to cover products
owned by the customer at the date of execution of the arrangement
as well as extended coverage for any additional products purchased
by the customer over the multi-year term of the applicable
arrangement, 2) multiple-element arrangements that included
separate customer purchase orders for products and related
professional services, or arrangements that included future
deliverables that were committed to be provided to the customers
but were not considered, and 3) an arrangement with a customer
involving the extension of payment terms beyond the company's
customary terms.  Additional information regarding these matters
can be found in the company's Current Report on Form 8-K filed on
April 17 with the SEC.

The correction of the errors is expected to reduce total revenues
by approximately $2.0 million and $4.5 million for the quarters
ended March 31, 2013 and June 30, 2013, respectively.  Further,
the correction of the errors is expected to increase deferred
revenues by approximately $2.0 million and $6.5 million as of
March 31, 2013 and June 30, 2013, respectively.  The company's
restated condensed consolidated financial statements for the
affected periods will also reflect the correction of errors
related to the income tax effects of the revenue errors, as well
as the correction of certain other tax items.  The restatement
will result in revenue recognition timing differences between
quarterly periods and will not have any impact on the total
revenue to be recognized over the life of the applicable
arrangements. As part of the restatement process, the company is
continuing to assess the estimated errors identified above and
will assess any other potential identified errors for correction
as needed.

In connection with the restatement of the company's previously
issued condensed consolidated financial statements for the
quarters ended March 31, 2013 and June 30, 2013, the company's
management has reassessed its evaluation of the effectiveness of
the company's disclosure controls and procedures and internal
control over financial reporting as of each of March 31, 2013 and
June 30, 2013.  Based on such reassessment and review, management
has concluded, and the company expects to report in its amended
filing for each quarter, that due to the identified errors and
material weaknesses in the company's internal controls, the
company did not maintain effective disclosure controls and
procedures or effective internal control over financial reporting
as of either March 31, 2013 or June 30, 2013.

The company plans to amend its previously filed Quarterly Reports
on Form 10-Q for the quarters ended March 31, 2013 and June 30,
2013 as soon as practicable and at or about the same time the
company files its Quarterly Report on Form 10-Q for the quarter
ended September 30, 2013 and its Annual Report on Form 10-K for
the fiscal year ended December 31, 2013.

Updated Plan to Regain Compliance with Nasdaq Listing Rule

As previously reported, as a result of Ixia's delayed filing of
its Form 10-Q and Form 10-K, the company is not in compliance with
Nasdaq Listing Rule 5250(c)(1), which requires the timely filing
with the SEC of all required periodic financial reports.  The
company on April 17 disclosed that, as requested by the company in
an updated plan to regain compliance with the Listing Rule, The
Nasdaq Stock Market LLC has granted the company through April 30,
2014 to regain compliance with the Listing Rule, which will permit
the continued listing of our common stock on the Nasdaq Global
Select Market.

Under the terms of the extension granted by Nasdaq, the company is
required to file the Form 10-Q and Form 10-K on or before
April 30, 2014 to regain compliance with the Listing Rule.  If the
company does not make the filings on or before April 30, 2014,
Nasdaq has advised that it will notify the company that its stock
will be delisted.  If Ixia receives such a notice, the company
will have an opportunity to appeal the delisting decision to a
Nasdaq Hearings Panel.  Under Nasdaq's rules and procedures, a
company's request for such a hearing is generally due within seven
calendar days after receipt of the delisting notification, and
such a request automatically stays any delisting (and suspension
of trading) for an additional 15 calendar days from the deadline
to request a hearing.  Upon receiving any such notification, the
company intends to timely request a hearing and to request an
additional stay (beyond the 15 calendar days) should it become
necessary.

                           About Ixia

Ixia -- http://www.ixiacom.com-- delivers information technology
solutions to a wide variety of organizations, through real-time
monitoring, real-world testing, and rapid assessment of networks
and systems.


IZEA INC: Authorized Common Shares Hiked to 200 Million Shares
--------------------------------------------------------------
IZEA, Inc., filed a certificate of amendment to its articles of
incorporation to increase the number of authorized shares of the
Company's common stock to 200,000,000 shares from 100,000,000
shares.  The amendment was adopted by stockholders holding a
majority of the Company's outstanding shares of common stock by
written consent on April 16, 2014.

On April 16, 2014, stockholders holding a majority of the
Company's outstanding shares of common stock, upon previous
recommendation and approval of the Company's Board of Directors,
adopted the IZEA, Inc. 2014 Employee Stock Purchase Plan and
reserved 1,500,000 shares of the Company's common stock for
issuance thereunder.  Any employee regularly employed by the
Company's Company for 90 days or more on a full-time or part-time
(20 hours or more per week on a regular schedule) basis will be
eligible to participate in the ESPP.  The ESPP will operate in
successive six month offering periods commencing at the beginning
of each fiscal year half.  Each eligible employee who has elected
to participate may purchase up to 10 percent of their annual
compensation in stock not to exceed $21,250 annually or 20,000
shares per offering period.  The purchase price will be the lower
of (i) 85 percent of the fair market value of a share of common
stock on the 1st trading day of the offering period or (ii) 85
percent of the fair market value of a share of common stock on the
last trading day of the offering period.  The ESPP will continue
until Jan. 1, 2024, unless otherwise terminated by the Board.

The stockholders also approved an amendment to IZEA's 2011 Equity
Incentive Plan to increase the number of shares of common stock
reserved for issuance thereunder by 8,386,285 shares, to a new
total of 20,000,000 shares and also approved minor revisions in
certain definitions and vesting terms under the 2011 Equity
Incentive Plan.

                          About IZEA, Inc.

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

IZEA reported a net loss of $4.67 million in 2012 as compared with
a net loss of $3.97 million in 2011.  The Company's balance sheet
at Sept. 30, 2013, showed $3.39 million in total assets,
$4.68 million in total liabilities and a $1.28 million total
stockholders' deficit.

Cross, Fernandez & Riley, LLP, in Orlando, Florida, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2012.  The independent
auditors noted that the Company has incurred recurring operating
losses and had a negative working capital and an accumulated
deficit at Dec. 31, 2012.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern
without raising sufficient additional financing.


JAMES RIVER COAL: Unit Addresses Imminent Danger Order
------------------------------------------------------
On April 11, 2014, in Leslie County, Kentucky, Blue Diamond Coal
Company, a subsidiary of James River Coal Company, received an
imminent danger order under section 107(a) of the Mine Act,
alleging that a guy wire to an electrical pole was broken and
swaying near an energized high voltage transmission line. Upon
issuance of the imminent danger order, the high voltage
transmission line was disconnected and the guy wire was removed.
The imminent danger order was then terminated. No injuries
occurred as a result of this incident.


KILIMANJARO RE: S&P Assigns Prelim. BB- Rating on 2 Note Classes
----------------------------------------------------------------
Standard & Poor's Ratings Services said that it has assigned its
'BB-(sf)' preliminary ratings to the Series 2014-1 Class A and
Class B notes to be issued by Kilimanjaro Re Ltd. (Kilimanjaro
Re).  The Class A notes cover losses on a per-occurrence basis
from named storms, and the Class B notes cover losses on an annual
aggregate basis from named storms and earthquakes (including fire
following) in the covered area.  The initial franchise deductible
amount for the Class B notes is $110 million.

The preliminary ratings are based on the lowest of the natural-
catastrophe risk factor ('BB-') for each class of notes, the
rating on the assets in the reinsurance accounts ('AAAm'), and the
rating on Everest Reinsurance Co., the ceding insurer.

The class A notes will cover losses from named storms on a per-
occurrence basis in Alabama, Florida, Georgia, Louisiana,
Mississippi, North Carolina, and South Carolina between the
attachment point of $1.40 billion and the exhaustion point of
$2.15 billion.

The class B notes will cover losses from named storms or
earthquakes on an annual aggregate basis in the covered area
between the attachment point of $2.15 billion and the exhaustion
point of $2.90 billion.

RATINGS LIST

Kilimanjaro Re Ltd.
Series 2014-1 Notes
  Class A                                 BB-(sf) (prelim)
  Class B                                 BB-(sf) (prelim)


LIBERTY MEDICAL: Sues Medco Health Over 2012 Buyout
---------------------------------------------------
Liberty Medical Supply, Inc., together with its parent company
FGST Investments, Inc., holding company, ATLS Acquisition, LLC,
and Polymedica Corporation, the legacy parent company of Liberty
Healthcare Group, Inc., and their collective affiliates, on
April 17 reaffirmed its commitment to supporting its patients,
business partners, employees and communities as it takes the
necessary steps to restructure under chapter 11 of the U.S.
Bankruptcy Code.  Liberty is focused on operating in the normal
course of business while it develops its exit strategy from
chapter 11 and positions itself for long-term success.

The Company highlighted on April 17 a recent complaint that it
filed with the U.S. Bankruptcy Court for the District of Delaware
against Medco Health Solutions, Inc., a subsidiary of Express
Scripts Holding Company.  In the complaint, the Company alleges
that Medco engaged in inequitable conduct related to Liberty
management's December 2012 buyout of Medco's then-subsidiary
Polymedica, a transaction that included the Liberty business.

Among other remedies, Liberty seeks damages relating to a series
of transactions and over $1 billion in equity redemptions that
left Liberty and its subsidiaries insolvent at a time when the
businesses were being prepared for sale.  The complaint also asks
the Bankruptcy Court to find that Medco improperly failed to pay
certain pre-closing taxes, improperly refused to transfer certain
assets and breached various material contract and financial
statement warranties in connection with the sale of the Liberty
business to management.

Liberty issued the following statement with respect to the
substance of its complaint against Medco:

"The Liberty Board and management team believe it is important to
set the record straight with respect to the causes, effects and
outlook of our restructuring, particularly with respect to the
inequitable conduct taken by Medco leading up to the chapter 11
cases and the impact that conduct has in connection with the
Liberty's emergence from chapter 11.  In early April 2012, Medco,
which included Polymedica and the Liberty business, was acquired
by Express Scripts Holding Company for $29.1 billion.
Subsequently, in December 2012, Medco sold Polymedica and the
Liberty business to the Liberty management team for $30 million in
cash.  Less than three months later, Liberty found itself unable
to survive without the immediate intervention of the Bankruptcy
Court and was forced into bankruptcy.  It is our view that Medco
was aware that Liberty would be unable to survive as a stand-alone
company should Medco fail to perform as promised in connection
with the management buyout.  We are further disappointed that the
inequitable conduct and overreaching that we have alleged against
Medco occurred under the oversight of Medco's parent company,
Express Scripts, which claims a strong commitment to ethical
business practices.  Indeed, Express Scripts has itself benefited
from Medco's actions: in late 2012 it recorded an impairment
charge of $23 million in connection with the sale of Liberty and
Polymedica, and it is currently pursuing an additional tax write-
off of approximately $545 million to reflect a claimed loss on the
sale.  Liberty's complaint details that in October 2012, with
preparations for a sale of Liberty already underway, Medco caused
Polymedica to redeem a large portion of Medco's equity in a series
of transactions that left Polymedica and its subsidiaries
insolvent.  Specifically, we allege that Medco cancelled more than
$900 million in outstanding debt that it owed to Liberty and
saddled those entities with an additional $200 million in new debt
due to Medco.  It is alleged that Medco's actions reduced
Liberty's stockholder equity from more than $1.3 billion to
negative $80 million in the months leading to its sale to
management, all in violation of state and federal laws.  In
addition, from October through December 2012, Liberty alleges that
Medco caused Polymedica to transfer approximately $27 million in
cash from Liberty's accounts for which Liberty received no
cognizable value and at a time when Liberty was insolvent.
Liberty alleges that Medco prepared certain financial statements
that overstated the value of the Liberty business by more than $26
million.  It was only after the filing of the chapter 11 cases
that Liberty's management learned that more than $42 million
listed in accounts receivable were uncollectable, that the value
of Liberty's property and equipment was overstated by $9 million
and that Liberty owed potentially millions of dollars in
undisclosed credit payables.  Liberty also alleges that Medco, in
addition to breaches of various financial warranties, also
breached its contractual obligations under the purchase agreement
to provide certain vital assets and payments that were and remain
critical to Liberty's operations.  Among other things, Medco:

   -- Did not deliver software that was essential to Liberty's
accounting and management functions, causing a $4 million loss;

   -- Refused to indemnify Liberty officers in lawsuits arising
out of pre-closing activity; and

   -- Failed to compensate Liberty management for third-party
expenses associated with the transaction.

Most significantly, despite the urging of its own accounting
staff, the Company alleges that Medco has refused to pay
pre-closing taxes for Polymedica leaving Liberty on the hook for
millions of dollars in taxes.  Liberty's complaint seeks to compel
Medco to comply with the purchase agreement, to recover funds
associated with the allegedly fraudulent transfers of value from
Liberty and to subordinate and disallow Medco's claims against
Liberty.  Should Liberty be successful in its case, the Company
intends to use this additional liquidity to pay its creditors and
support its business of providing lifesaving treatments to
patients who depend on Liberty.

                       About Liberty Medical

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

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

Dennis A. Meloro, Esq., at Greenberg Traurig, LLP, serves as the
Debtor's counsel; Ernst & Young LLP to provide investment banking
advice; and Epiq Bankruptcy Solutions, LLC, as claims and noticing
agent for the Clerk of the Bankruptcy Court.

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


LKQ CORP: S&P Affirms 'BB+' Corp. Credit Rating
-----------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'BB+'
corporate credit rating on Chicago-based replacement auto parts
provider LKQ Corp.  The outlook is stable.  At the same time, S&P
affirmed its 'BB+' issue rating on LKQ's amended and restated
$1.85 billion senior secured revolving credit facility due May
2019 and the company's $450 million term loan A due May 2019.  The
'3' recovery rating remains unchanged and indicates S&P's
expectation for meaningful recovery (50%-70%) in a payment default
scenario.  The revolving facility consists of a $1.685 billion
multicurrency tranche and a $165 million U.S. tranche.  S&P also
affirmed its 'BB-' debt issue rating on LKQ's $600 million 4.75%
senior unsecured notes due 2023.  The '6' recovery rating remains
unchanged and indicates S&P's expectation for negligible recovery
(0%-10%) in a payment default scenario.

"The rating affirmations reflect our expectation that LKQ's good
profitability and favorable record of acquisition integration
since 2007 will continue," said Standard & Poor's credit analyst
Nancy Messer.  The company's profit measures should remain at
current levels or better, with gross margin at 40%, EBITDA margin
at 14%, and return on capital of 14%.  LKQ had gross margin of
41%, EBITDA margin of 14.6%, and return on capital of 14.5% as of
Dec. 31, 2013.  These credit measures are appropriate for a "fair"
business risk profile, based on S&P's criteria.  The affirmations
also reflect S&P's view that LKQ's financial policy will remain
"neutral," balancing shareholder requirements for growth with
debtholders expectations for intermediate leverage.

"The stable outlook reflects our view that LKQ's resilient
business model and good historical financial performance will
support continuing organic EBITDA expansion and free cash
generation," said Ms. Messer.  It also reflects S&P's expectation
that although LKQ will continue to expand through debt-financed
acquisitions, management will pace the acquisitions so that the
company's credit measures, on average, will align with S&P's
expectations for an "intermediate" financial profile assessment.
These ratios include debt leverage in the 2x-3x range or lower,
and FFO to total debt of 30%.

The likelihood of an upgrade is limited by LKQ's business risk
profile.  For an upgrade to an investment-grade rating ('BBB-' or
higher), S&P would need to reassess LKQ's business risk profile as
"satisfactory."  The existing "fair" assessment reflects the risks
inherent in LKQ's business strategy of continuous growth through
acquisitions, its narrowly focused business operations, and its
concentrated geographic reach.  Absent an improvement in the
business risk assessment, S&P is less likely to raise the rating,
since it would need to believe that LKQ's credit measures would
improve such that lease-adjusted leverage falls to 1.5x or less
and FFO to total debt reaches 45% or more on a sustainable basis.
As of Dec. 31, 2013, debt leverage totaled 2.3x and FFO to total
debt was 29.6%.  To raise the rating from the current level, S&P
would also need to believe that LKQ's strategic business and
financial policies, governance structure, and capital structure
would be consistent with a higher rating.

While also unlikely, S&P could lower the rating if LKQ's credit
measures fail to reach the targets required for the "intermediate"
financial profile assessment for leverage and cash flow because of
operating problems, loss of business, inability to efficiently
integrate acquired properties, or other adverse market conditions
such as an unfavorable change in how the auto insurance industry
chooses to fulfill collision claims.  This in turn would
significantly reduce FOCF.  S&P could also lower the rating if LKQ
undertakes a transforming debt-financed acquisition in the year
ahead, or if there was a change in its financial policy because of
an altered strategy for business operations or shareholder value
creation.


LOUDOUN HEIGHTS: Little Piney Seeks Dismissal of Case
-----------------------------------------------------
Little Piney Runs Estates, LLC, by Dean F. Morehouse, managing
member, is asking the bankruptcy court to dismiss the bankruptcy
petition filed for Loudoun Heights, LLC.

According to LPR, Joseph L. Bane, Jr., claiming to act as the
"sole manager" of Loudoun Heights, filed the LH bankruptcy
petition.  The petition must be dismissed because Mr. Bane had no
authority to file the petition, LPR tells the Court.  LPR explains
that at the time of the petition, Mr. Bane was not the manager
because he was dissociated and removed by virtue of his
bankruptcy.

LPR owns a 93% membership interest in LH.  LPR is owned 51% by
Bane who is dissociated; 24.5% by Dean F. Morehouse, who was and
is a manager of LPR; and 24.5% by Jerome O. Guyant.

                       Bane Family Members

According to LPR, the petition appears to be only a means to
enrich Bane's family members:

    * LH has proposed to sell "stream credits" through Loudoun
Mitigation Bank (LMB), and that LMB would receive 50% of the
proceeds.  Tamara Bane, Bane's wife, owns 52.7% of Loudoun
Mitigation Bank LLC (LMB); Stacey Calhoun, the wife of Bane's
cousin Frederick C. Calhoun, owns 8.3%.

    * LH has applied to hire to hire FBJ Farm & Timber LLC (FBJ)
as a "land manager and consultant." FBJ is owned by Bane himself
(10%), his brother James Bane (45%) and his cousin Frederick C.
Calhoun, Jr. (45%).  Mr. Bane proposes to pay FBJ 10% of the gross
sale amount of stream credits derived from LPR's land and any
other preservation or conservation tax proceeds and also pay FBJ's
"direct expenses" for machinery rental, fuel, materials and
supplies, all without any hint of how much those expenses might
be.

Little Piney Run Estates, LLC, is represented by:

         Neil D. Goldman, Esq.
         John P. Van Beek, Esq.
         GOLDMAN & VAN BEEK, P.C.
         510 King St., Suite 416
         Alexandria, VA 22314
         Tel: (703) 684-3260
         Fax: (703) 548-4742
         E-mail: ngoldman@goldmanvanbeek.com
                 jvanbeek@goldmanvanbeek.com

                         Debtor's Response

Objecting to the motion, the Debtor argued in court filings that
LPR lacks standing to bring this action.   The Debtor notes that
LPR failed to file its annual reports and pay its annual
registration fees to the Virginia State Corporation Commission and
LPR was automatically cancelled on December 31, 2010 pursuant to
Virginia Code Sec. 13.1-1050.2(A).

Since LPR's corporate existence was cancelled on December 31,
2010, Dean Morehouse, as managing member, became the trustee in
liquidation for the company. Accordingly, only Mr. Morehouse, as
trustee in liquidation for LPR has standing to sue, pursuant to
Virginia Code Sec. 13.1-1050.2(C).

A hearing o the motion was slated for April 21.

                       About Loudoun Heights

Loudoun Heights, LLC, filed a Chapter 11 petition (Bankr. E.D. Va.
Case No. 13-15588) on Dec. 16, 2013.  The Debtor disclosed total
assets of $13.10 million and total debts of $4.84 million.  The
petition was signed by Joe Bane as sole manager.  Frank Bredimus,
Esq., at Law Office of Frank Bredimus, serves as the Debtor's
counsel.  Judge Brian F. Kenney presides over the case.


LOUDOUN HEIGHTS: Files Amended Plan Disclosures
-----------------------------------------------
Loudoun Heights, LLC, in early April filed an amended disclosure
statement explaining its proposed plan of reorganization.
According to the disclosure statement, all classes of creditors
will be paid in full.  The proceeds from sale of the Debtor's
assets will be sufficient to pay the Claims of all secured,
priority unsecured and general unsecured creditors, and court-
approved professionals.  The Debtor expects $4.37 million to $9.92
million in revenue from the sale of all assets.

The Disclosure Statement says the Debtor has a plan of complete or
partial liquidation.  If sufficient property is not sold within 24
months after approval of the Plan of Reorganization to repay all
secured and unsecured creditors in full, the case will be
converted to a Chapter 7 liquidation.

A copy of the Disclosure Statement, dated April 3, 2014, is
available for free at:

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

                       About Loudoun Heights

Loudoun Heights, LLC, filed a Chapter 11 petition (Bankr. E.D. Va.
Case No. 13-15588) on Dec. 16, 2013.  The Debtor disclosed total
assets of $13.10 million and total debts of $4.84 million.  The
petition was signed by Joe Bane as sole manager.  Frank Bredimus,
Esq., at Law Office of Frank Bredimus, serves as the Debtor's
counsel.  Judge Brian F. Kenney presides over the case.


MACROSOLVE INC: CEO & President Quits, Interim Replacement Named
----------------------------------------------------------------
Mr. James C. McGill resigned as chief executive officer, and
president of Macrosolve, Inc., as well as his position serving on
the Company's Board of Directors on April 17, 2014.  Also on
April 17, 2014, Messrs. David Humphrey and John Clerico resigned
their positions serving on the Company's Board of Directors.  In
submitting their resignations, Messrs. McGill, Humphrey and
Clerico did not express any disagreement with the Company on any
matter relating to the Company's operations, policies or
practices.

Effective April 17, 2014, the Company appointed Michael Haas to
serve as the Company's interim president and to serve on the
Company's Board of Directors.  The Company agreed to pay Mr. Haas
$2,500 a month for his services.

Since April 2010, Mr. Haas has been the assistant vice president
of Morningstar, Inc., in Horsham, Pennsylvania.  Between 2007 and
2010, Mr. Haas was an Associate at KPMG, LLP, in Philadelphia,
Pennsylvania.  Mr. Haas received his Bachelor of Science Degree in
Finance from Villanova University in 2007.

There is no understanding or arrangement between Mr. Haas and any
other person pursuant to which Mr. Haas was selected as an officer
or director.  Mr. Haas does not have any family relationship with
any director, executive officer or person nominated or chosen by
us to become a director or executive officer.

On April 14, 2014, shareholders representing a majority of the
then issued and outstanding shares of the Company's Common Stock
entitled to vote thereon approved a plan of merger pursuant to
which the Company would merge with a newly created wholly-owned
Nevada subsidiary for the purpose of reincorporating the Company
to the State of Nevada.  Pursuant to the Reincorporation, the
shareholders approved a share consolidation, whereby holders of
the Company's common stock would receive one share of common
stock, par value $0.0001 per share of Newco for every 50.56186
shares of the Company's Common Stock, other than shares of Common
Stock that are owned by stockholders exercising appraisal rights.

On April 17, 2014, Macrosolve entered into a series of exchange
agreements with certain holders of convertible debentures and
promissory notes in the principal face amount of $683,680 and
accrued interest of $97,306 previously issued by the Company.
Pursuant to the Exchange Agreements, the Holders exchanged the
Notes and relinquished any and all other rights they may have
pursuant to the Notes in exchange for 595,000 shares of newly
designated Series C Convertible Preferred Stock, 324,671 shares of
newly designated Series D Convertible Preferred Stock and 156,231
shares of newly designated Series D-1 Convertible Preferred Stock.
Those exchanges were conducted pursuant to the exemption provided
by Section 3(a)(9) of the Securities Act of 1933, as amended.

Series C Preferred

Pursuant to the Series C Preferred Certificate of Designation, the
Company designated 595,000 shares of its blank check preferred
stock as Series C Preferred.  Each share of Series C Preferred has
a stated value of $0.01977775 per share.  In the event of a
liquidation, dissolution or winding up of the Company, each share
of Series C Preferred Stock will be entitled to a payment as set
forth in the Certificate of Designation.  The Series C Preferred
is convertible into such number of shares of the Company's common
stock equal to such number of shares of Series C Preferred being
converted multiplied by 100 and divided by the stated value.  Each
share of Series C Preferred entitles the holder to vote on all
matters voted on by holders of Common Stock as a single class.
With respect to any such vote, each share of Series C Preferred
entitles the holder to cast such number of votes equal to the
number of shares of Common Stock such share of Series C Preferred
is convertible into at such time, but not in excess of the
conversion limitations set forth in the Series C Preferred
Certificate of Designation. The Series C Preferred will be
entitled to dividends to the extent declared by the Company.

Series D Preferred

Pursuant to the Series D Preferred Certificate of Designation, the
Company designated 324,671 shares of its blank check preferred
stock as Series C Preferred.  Each share of Series D Preferred has
a stated value of $0.01977775 per share.  In the event of a
liquidation, dissolution or winding up of the Company, each share
of Series D Preferred Stock will be entitled to a payment as set
forth in the Certificate of Designation. The Series D Preferred is
convertible into such number of shares of Common Stock equal to
such number of shares of Series C Preferred being converted
divided by the stated value.  Each share of Series D Preferred
entitles the holder to vote on all matters voted on by holders of
Common Stock as a single class.  With respect to any such vote,
each share of Series D Preferred entitles the holder to cast such
number of votes equal to the number of shares of Common Stock such
share of Series D Preferred is convertible into at such time, but
not in excess of the conversion limitations set forth in the
Series D Preferred Certificate of Designation.  The Series D
Preferred will be entitled to dividends to the extent declared by
the Company.

Series D-1 Preferred

Pursuant to the Series D-1 Preferred Certificate of Designation,
the Company designated 156,231 shares of its blank check preferred
stock as Series D-1 Preferred.  Each share of Series D-1 Preferred
has a stated value of $0.01977775 per share.  In the event of a
liquidation, dissolution or winding up of the Company, each share
of Series D-1 Preferred Stock will be entitled to a payment as set
forth in the Certificate of Designation.  The Series D-1 Preferred
is convertible into such number of shares of Common Stock equal to
such number of shares of Series D-1 Preferred being converted
divided by the stated value.  Each share of Series D-1 Preferred
entitles the holder to vote on all matters voted on by holders of
Common Stock as a single class.  With respect to any such vote,
each share of Series D-1 Preferred entitles the holder to cast
such number of votes equal to the number of shares of Common Stock
such share of Series D-1 Preferred is convertible into at such
time, but not in excess of the conversion limitations set forth in
the Series D-1 Preferred Certificate of Designation.  The Series
D-1 Preferred will be entitled to dividends to the extent declared
by the Company.

                       About MacroSolve, Inc.

Tulsa, Okla.-based MacroSolve, Inc. (OTC BB: MCVE)
-- http://www.macrosolve.com/-- is a technology and services
company that develops mobile solutions for businesses and
government.  A mobile solution is typically the combination of
mobile handheld devices, wireless connectivity, and software that
streamlines business operations resulting in improved efficiencies
and cost savings.

The Company's balance sheet at Sept. 30, 2013, showed $1.49
million in total assets, $1.01 million in total liabilities and
$476,842 in total stockholders' equity.

Macrosolve, Inc., incurred a net loss of $1.77 million in 2012,
a net loss of $2.53 million in 2011 and a net loss of
$1.92 million in 2010.


METRO AFFILIATES: Liquidation Plan Outline to be Heard on Apr 29
----------------------------------------------------------------
The New York Southern District bankruptcy court will convene a
hearing on April 29, 2014, at 11:00 a.m., to consider the adequacy
of the Disclosure Statement for the Joint Chapter 11 Plan of
Liquidation filed by Metro Affiliates, Inc. and its debtor
affiliates.

A substantial majority of the Debtors' assets have already been
liquidated during the pendency of their Chapter 11 Cases and the
Debtors have ceased operating their business of providing
transportation services.  Thus, the Plan provides for the
liquidation of substantially all of the remaining property of the
Debtors' Estates, which consists of (a) any and all Estate Causes
of Action, (b) the Other GUC Escrow, (c) the Other Liquidating
Trust Fund Escrow and (d) any and all remaining Unencumbered
Assets, and the proceeds of each of items (a) to (d).

The Plan embodies a global settlement among the Debtors, the
Creditors Committee, Wells Fargo and Wayzata for a fair allocation
of the Debtors' remaining assets.  Wayzata holds a substantial
majority of the Debtors' Notes.  Among other things, the
Settlement provides that proceeds of the Noteholders' Collateral
will be used to pay certain administrative expenses.

The Plan designates seven classes of claims and interests.
General unsecured claims will be entitled to a pro rata recovery
on available funds.

Confirmation of the Plan will not discharge the Debtors from any
of their debts which arose prior to the Petition Date, however,
Confirmation will make the Plan binding upon the Debtors, their
Creditors, Holders of Claims and Interests, the Liquidating Trust
and other parties in interest regardless of whether they have
accepted the Plan.

The Plan is premised on the substantive consolidation of all of
the Debtors with respect to the treatment of all Claims and
Interests.

The Plan documents were filed with the Court on March 31, 2014,
with the Official Committee of Unsecured Creditors as plan
proponent.  Full-text copies of the Plan documents are available
at:

      http://bankrupt.com/misc/METROAFFILIATES_PlanMar31.PDF
      http://bankrupt.com/misc/METROAFFILIATES_DSMar31.PDF

                      About Metro Affiliates

Staten Island, New York-based Metro Affiliates, Inc., and its
subsidiaries sought protection under Chapter 11 of the Bankruptcy
Code on Nov. 4, 2013 (Bankr. S.D.N.Y. Case No. 13-13591).  The
case is assigned to Judge Sean Lane.

Lisa G. Beckerman, Esq., and Rachel Ehrlich Albanese, Esq., at
Akin Gump Strauss Hauer & Feld LLP, in New York; and Scott L.
Alberino, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
Washington, D.C., represent the Debtors.  Silverman Shin & Byrne
PLLC serves as special counsel.  Rothschild Inc. serves as the
Debtors' investment banker, while Kurtzman Carson Consultants LLC
serves as their claims and noticing agent.

Wells Fargo Bank, National Association, as agent for a consortium
of DIP lenders, is represented by Jonathan N. Helfat, Esq., at
Otterbourg, Steindler, Houston & Rosen, P.C., in New York.

The Bank of New York Mellon as indenture trustee and collateral
agent for prepetition noteholders, is represented by James
Gadsden, Esq., at Carter, Ledyard & Milburn LLP, in New York.
Certain Noteholders are represented by Kristopher M. Hansen, Esq.,
at Stroock & Stroock & Lavan LLP, in New York.

The U.S. has appointed a three-member official committee of
unsecured creditors represented by Farrell Fritz, P.C.
PricewaterhouseCoopers LLP serves as the Committee's financial
advisors.

This is Metro Affiliates' third trip to Chapter 11.  The Company,
together with its subsidiaries, previously sought protection under
Chapter 11 of the Bankruptcy Code on Aug. 16, 2002 (In re Metro
Affiliates, Inc., Case No. 02-42560 (PCB), Bankr. S.D.N.Y.).  A
plan in the second Chapter 11 case was confirmed in September
2003.  The first bankruptcy was in 1994.


MICHAEL FOODS: S&P Puts 'B' CCR on CreditWatch Negative
-------------------------------------------------------
Standard & Poor's Ratings Services said it placed its ratings,
including its 'B' corporate credit rating, on Minnetonka, Minn.-
based Michael Foods Group Inc. on CreditWatch with negative
implications, meaning that S&P could lower or affirm the ratings
following the completion of S&P's review.  Michael Foods had
reported debt of $1.5 billion outstanding as of Dec. 31, 2013.

"Michael Foods' CreditWatch negative listing follows Post Holdings
Inc.'s announcement of its plans to purchase Michael Foods Inc.,"
said Standard & Poor's credit analyst Chris Johnson.  "We believe
the transaction could weaken new parent company Post Holdings
Inc.'s credit protection measures and we estimate the two
companies' consolidated pro forma leverage could be near 7x," he
added.

S&P will resolve the CreditWatch listing following its review of
the financial and business risk impact of the acquisition.  Upon
completion of S&P's review, it could lower or affirm the ratings
on Michael Foods.


MILESTONE SCIENTIFIC: Inks Investment Agreement with BP4
--------------------------------------------------------
Milestone Scientific Inc. and BP4 S.p.A., an Italian corporation
controlled by Innovest S.p.A., entered into an investment
agreement pursuant to which BP4 or designated affiliates would
purchase 2,000,000 shares of the Company's common stock at $1.50
per share and 7,000 shares of the Company's Series A Convertible
Preferred Stock at $1,000 per share, all subject to satisfaction
of various closing conditions including a financing condition
under which the Investment Agreement is null and void without
liability for any purchaser unless $10 million has been raised and
the transaction closed by May 15, 2014.  The Series A Shares are
convertible into common stock at $2.545 per share, or upon the
expiration of five years at $1.50 per share if certain conditions
are not met, both subject to various anti-dilution adjustments.
Generally the Series A Shares vote together with the Common Stock
as one class with the Series A Shares having a total number of
votes equal to the number of shares of Common Stock into which
they are then convertible at a conversion price of $2.545 per
share.

                     About Milestone Scientific

Livingston, N.J.-based Milestone Scientific Inc. is engaged in
pioneering proprietary, innovative, computer-controlled injection
technologies and solutions for the medical and dental markets.

Milestone Scientific reported net income of $1.46 million in 2013,
as compared with a net loss of $870,306 in 2012.

The Company's balance sheet at Dec. 31, 2013, showed $8.05 million
in total assets, $2.53 million in total liabilities, all current,
and $5.51 million in total stockholders' equity.  As of Dec. 31,
2013, Milestone had cash and cash equivalents of $1,147,198 and a
working capital of $2,344,135.

Baker Tilly Virchow Krause, LLP, in New York, issued "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has suffered recurring losses from operations
since inception, which raises substantial doubt about its ability
to continue as a going concern.


MOBILE MINI: S&P Raises CCR to 'BB'; Outlook Positive
-----------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
corporate credit rating on Tempe, Ariz.-based portable storage
units and mobile office units leasing company Mobile Mini Inc. to
'BB' from 'BB-'.  The outlook is positive.

At the same time, S&P raised its issue rating on the senior
unsecured notes to 'BB-' from 'B+' (one notch below the corporate
credit rating).  The '5' recovery rating on this debt indicates
S&P's expectation that lenders would receive a modest recovery
(10%-30%) in the event of a payment default.

"The rating on Mobile Mini reflects the cyclical markets the
company operates in and its fairly narrow business segment," said
Standard & Poor's credit analyst Michael Durand.  "The rating also
reflects the company's leading market position and relatively
stable earnings and cash flow."  S&P assess Mobile Mini's business
risk profile as "fair," its financial risk profile as
"significant," its liquidity as "strong," and its management as
"fair," based on S&P's criteria.

The outlook is positive.  S&P expects the company to achieve a
gradually improving financial profile from continued earnings
growth, debt paydown, and modest capital spending and shareholder
rewards.  Over the long term, S&P expects Mobile Mini to benefit
from improving market fundamentals.

S&P could upgrade the company by one notch if its financial
profile improves such that FFO to debt rises above 30% for a
sustained period.

S&P could revise the outlook to stable if the company's financial
profile moderates, due to weaker-than-expected earnings growth or
material shareholder rewards causing FFO to total debt to fall to
the low-20% area for a sustained period.


MOBILESMITH INC: Sells Add'l $300,000 Convertible Note
------------------------------------------------------
MobileSmith, Inc., On April 14, 2014, sold an additional
convertible secured subordinated note due Nov. 14, 2016, in the
principal amount of $300,000 to a current noteholder upon
substantially the same terms and conditions as the Company's
previously issued notes.

The Company is obligated to pay interest on the New Note at an
annualized rate of 8 percent payable in quarterly installments
commencing July 14, 2014.  As with the Existing Notes, the Company
is not permitted to prepay the New Note without approval of the
holders of at least a majority of the aggregate principal amount
of the Notes then outstanding.

The Company plans to use the proceeds to meet ongoing working
capital and capital spending requirements.

                      About MobileSmith Inc.

MobileSmith, Inc. (formerly, Smart Online, Inc.) was incorporated
in the State of Delaware in 1993.  The Company changed its name to
MobileSmith, Inc., effective July 1, 2013.  The Company develops
and markets software products and services tailored to users of
mobile devices.  The Company's flagship product is The
MobileSmithTM Platform.  The MobileSmithTM Platform is an
innovative, patents pending mobile app development platform that
enables organizations to rapidly create, deploy, and manage
custom, native smartphone apps deliverable across iOS and Android
mobile platforms.

Cherry Bekaert LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company
has suffered recurring losses from operations and has a working
capital deficiency as of Dec. 31, 2013.

The Company reported a net loss of $27.53 million on $339,039 of
total revenues in 2013, compared with a net loss of $4.4 million
on $147,468 of total revenues in 2012.  The Company's balance
sheet at Dec. 31, 2013, showed $1.43 million in total assets,
$30.22 million in total liabilities, and a stockholders' deficit
of $28.79 million.


MOMENTIVE PERFORMANCE: Obtained Waiver From ABL Lenders
-------------------------------------------------------
Momentive Performance Materials Inc., disclosed that prior to
filing for Chapter 11 bankruptcy protection, the Company on April
11, 2014, obtained a waiver, subject to certain conditions and
exceptions, from the required lenders under its $270 million
asset-based revolving loan facility, and on April 10, 2014, the
Company obtained a waiver, subject to certain conditions and
exceptions, from the required lenders under its $75 million
revolving credit facility, in each case, in respect of certain
events of default including:

     (i) PricewaterhouseCoopers LLP expressing in their opinion
         to the Company's consolidated financial statements
         included in its Annual Report on Form 10-K for the
         fiscal year ended Dec. 31, 2013, that there is
         substantial doubt about the Company's ability to
         continue as a going concern for the next 12 months,

    (ii) the Company's failure to furnish financial statements
         for the fiscal year ended Dec. 31, 2013 within the
         required time frame of 95 days from such fiscal year
         end, and

   (iii) the Company's filing for Chapter 11 bankruptcy
         protection, including cross-defaults resulting
         therefrom.

The Waivers are:

     -- Waiver, dated as of April 11, 2014, with respect to the
Asset-Based Revolving Credit Agreement, dated as of April 24,
2013, among Momentive Performance Materials Holdings Inc.,
Momentive Performance Materials Inc., Momentive Performance
Materials USA Inc., as U.S. borrower, Momentive Performance
Materials GmbH and Momentive Performance Materials Quartz GmbH, as
German borrowers, Momentive Performance Materials Nova Scotia ULC,
as Canadian borrower, the lenders party thereto, JPMorgan Chase
Bank, N.A., as administrative agent for the lenders, and the other
parties named therein.

     -- Waiver and Consent, dated April 10, 2014, among Momentive
Performance Materials Holdings Inc., Momentive Performance
Materials Inc., Momentive Performance Materials USA Inc., as U.S.
borrower, Momentive Performance Materials GmbH, as German
borrower, Momentive Performance Materials Nova Scotia ULC, as
Canadian borrower, the lenders party thereto, JPMorgan Chase Bank,
N.A., as administrative agent and collateral agent.

The Company also said the filing of the Bankruptcy Petitions
constitutes an event of default that accelerated the Company's
obligations under these debt instruments:

     * Indenture, dated as of December 4, 2006, by and among the
Company, certain subsidiaries thereof and Wells Fargo Bank,
National Association, as trustee, with respect to an aggregate
principal amount of approximately $382 million of 11-1/2% Senior
Subordinated Notes due 2016 plus accrued and unpaid interest
thereon;

      * Indenture, dated as of November 5, 2010, by and among the
Company, certain subsidiaries thereof and The Bank of New York
Mellon Trust Company, N.A., as trustee and collateral agent, with
respect to an aggregate principal amount of approximately $1,161
million of 9% Second-Priority Springing Lien Notes due 2021 plus
accrued and unpaid interest thereon and an aggregate principal
amount of approximately $183 million of 9-1/2% Second-Priority
Springing Lien Notes due 2021 plus accrued and unpaid interest
thereon;

     * Indenture, dated as of May 25, 2012, by and among the
Company, certain subsidiaries thereof and The Bank of New York
Mellon Trust Company, N.A., as trustee and collateral agent, with
respect to an aggregate principal amount of approximately $250
million of 10% Senior Secured Notes due 2020 plus accrued and
unpaid interest thereon; and

     * Indenture, dated as of October 25, 2012, by and among MPM
Escrow LLC and MPM Finance Escrow Corp., MPM TopCo LLC and The
Bank of New York Mellon Trust Company, N.A., as trustee, with
respect to an aggregate principal amount of approximately $1,100
million of 8.875% First-Priority Senior Secured Notes due 2020
plus accrued and unpaid interest thereon.

The Debt Instruments provide that as a result of the Bankruptcy
Petition the principal and interest due thereunder shall be
immediately due and payable. Any efforts to enforce such payment
obligations under the Debt Instruments are automatically stayed as
a result of the Bankruptcy Petition and the creditors' rights of
enforcement in respect of the Debt Instruments are subject to the
applicable provisions of the Bankruptcy Code.


MOTORCAR PARTS: Authorized Common Stock Hiked to 50 Million
-----------------------------------------------------------
Motorcar Parts of America, Inc., amended its Certificate of
Incorporation to increase the number of authorized shares of the
Company's common stock from 20,000,000 to 50,000,000.  The
Amendment was approved and filed of record by the New York
Department of State on April 14, 2014.

                        About Motorcar Parts

Torrance, California-based Motorcar Parts of America, Inc.
(Nasdaq: MPAA) is a remanufacturer of alternators and starters
utilized in imported and domestic passenger vehicles, light trucks
and heavy duty applications.  Motorcar Parts of America's products
are sold to automotive retail outlets and the professional repair
market throughout the United States and Canada, with
remanufacturing facilities located in California, Mexico and
Malaysia, and administrative offices located in California,
Tennessee, Mexico, Singapore and Malaysia.

The Company reported a net loss of $91.5 million on $406.3 million
of sales in fiscal 2013, compared to a net loss of $48.5 million
on $363.7 million of sales in fiscal 2012.  As of Dec. 31, 2013,
the Company had $297.34 million in total assets, $191.90 million
in total liabilities and $105.43 million in total shareholders'
equity.

In their report on the consolidated financial statements for the
year ended March 31, 2013, Ernst & Young LLP, in Los Angeles,
California, noted that the Company's wholly owned subsidiary
Fenwick Automotive Products Limited has recurring operating losses
since the date of acquisition and has a working capital and an
equity deficiency.  "In addition, Fenco has not complied with
certain covenants of its loan agreements with its bank.  These
conditions relating to Fenco coupled with the significance of
Fenco to the Consolidated Companies, raise substantial doubt about
the Consolidated Companies' ability to continue as a going
concern."


MT. GOX: Tokyo Court Rejects Rehabilitation Bid
-----------------------------------------------
MtGox Co., Ltd, said the Tokyo District Court on April 16 decided
to dismiss the company's application for commencement of a civil
rehabilitation and at the same time issued an order for
Provisional Administration.

"MtGox, applied on Feb. 28, 2014 for commencement of a civil
rehabilitation procedure at the Tokyo District Court. During the
following 1 month and a half, an investigation has proceeded with
regard to the past factual elements related to the disappearance
of bitcoins and missing funds which were the cause of said
application, but it is expected that said investigation will still
require some time and at this time, there are no prospects for the
restart of the business. Further, MtGox Co., Ltd. is continuing
the negotiations with sponsor candidates but the concrete
selection process has not yet started," the company said in a
statement.

"Taking into account this situation and the fact that the drafting
of a rehabilitation plan and its adoption or approval appear
difficult, after consultation with the Court and the Supervisor on
the continuation of the procedure, the Tokyo District Court
decided today [April 16] to dismiss the application for
commencement of a civil rehabilitation and at the same time, an
order for Provisional Administration was issued and Attorney-at-
law Nobuaki Kobayashi (Supervisor and Examiner under the Civil
Rehabilitation Procedure) was appointed Provisional Administrator.

"The dismissal of the application for commencement of a civil
rehabilitation procedure will create great inconvenience and
concerns to our creditors for which we apologize.

"MtGox Co., Ltd. intends to fully cooperate with the Provisional
Administrator including by handing over to the Provisional
Administrator current negotiations with sponsor candidates to
maximize the distribution to all creditors following a transfer of
the business to a sponsor."

                          About Mt. Gox

Bitcoin exchange MtGox Co., Ltd., filed a petition under Chapter
15 of the U.S. Bankruptcy Code on March 9, 2014, days after the
company sought bankruptcy protection in Japan.  The bankruptcy in
Japan came after the bitcoin exchange lost 850,000 bitcoins valued
at about $475 million "disappeared."

The Japanese bitcoin exchange that halted trading in February
2014. It filed for bankruptcy protection in the U.S. to prevent
customers from targeting the cash it holds in U.S. bank accounts.

The Chapter 15 case is In re MtGox Co., Ltd., Case No. 14-31229
(Bankr. N.D. Tex.).  The Chapter 15 Petitioner is Robert Marie
Mark Karpeles, the company's chief executive officer.  Mr.
Karpeles is represented by John E. Mitchell, Esq., and David
William Parham, Esq., at BAKER & MCCKENZIE LLP, in Dallas, Texas.

The company said it has estimated assets of $10 million to $50
million and debts of $50 million to $100 million.


MT. GOX: U.S. Investor Says Creditors Support Buyout
----------------------------------------------------
Takashi Mochizuki, writing for The Wall Street Journal, reported
that creditors who owned more than 70% of the bitcoins lost by Mt.
Gox have agreed to support efforts by a group of U.S. investors to
acquire and revive the collapsed bitcoin exchange, rather than
have it liquidated by a Japanese court, according to John Betts,
one of those investors.

Mr. Betts is with Sunlot Holdings, an investor group that had been
trying to buy Mt. Gox since January 2013, according to the report.
It is now offering a token payment of one bitcoin, worth about
$500, to buy the exchange, according to people with knowledge of
the matter.

An acquisition would have to be approved by a Japanese bankruptcy
court, the report related.  Mt. Gox had been seeking a court-led
rehabilitation, but faced with mounting issues, including lack of
a court-approved restart plan, it gave up and said that Tokyo
District Court had granted its request to abandon the
rehabilitation efforts. It said it expected to be liquidated.

According to three people close to the matter, Sunlot, which is
led by bitcoin entrepreneur Brock Pierce and includes venture
capitalists Matthew Roszak and William Quigley, has agreed to buy
a 12% stake in Mt. Gox from founder Jed McCaleb, the report
further related.  It wasn't clear what the price would be for that
stake. The remaining 88% of the exchange is owned by Chief
Executive Mark Karpeles.

In an April 9 letter to the bankruptcy court signed by Mr.
Karpeles and reviewed by The Wall Street Journal, the Mt. Gox CEO
requested that the court approve the takeover by the consortium,
the report said. The court didn't approve the offer, finding the
restart plan unrealistic, according to people familiar with the
matter.

                          About Mt. Gox

Bitcoin exchange MtGox Co., Ltd., filed a petition under Chapter
15 of the U.S. Bankruptcy Code on March 9, 2014, days after the
company sought bankruptcy protection in Japan.  The bankruptcy in
Japan came after the bitcoin exchange lost 850,000 bitcoins valued
at about $475 million "disappeared."

The Japanese bitcoin exchange halted trading in February 2014. It
filed for bankruptcy protection in the U.S. to prevent customers
from targeting the cash it holds in U.S. bank accounts.

The Chapter 15 case is In re MtGox Co., Ltd., Case No. 14-31229
(Bankr. N.D. Tex.).  The Chapter 15 Petitioner is Robert Marie
Mark Karpeles, the company's chief executive officer.  Mr.
Karpeles is represented by John E. Mitchell, Esq., and David
William Parham, Esq., at BAKER & MCCKENZIE LLP, in Dallas, Texas.

The company said it has estimated assets of $10 million to $50
million and debts of $50 million to $100 million.


NORTEL NETWORKS: Ex-Workers in Canada Seek to File Claims
---------------------------------------------------------
The U.S. Bankruptcy Court will convene a hearing today, April 22,
2014, at 10:00 a.m., to consider the request of an ad hoc
committee of Nortel Networks employees in Canada who were
terminated prior to the bankruptcy, for entry of an order allowing
claims to be filed after the claims filing deadline.

The matter was originally scheduled for a hearing on Feb. 19,
2013, but was adjourned to provide the Debtors and the Unsecured
Creditors Committee with an opportunity to take discovery.  The
Debtors engaged in extensive discovery from each and every member
of the Ad Hoc Committee culminating in depositions of 14 members
of the Ad Hoc Committee hand-selected by the Debtors.  The
depositions were completed on Feb. 14, 2014, and the deposition
transcripts have just been read by the deponents.

On Feb. 1, 2013, the Ad Hoc Committee, by and through their
counsel, Rachel B. Mersky, Esq. at Monzack Mersky McLaughlin and
Browder, P.A, requested for leave to file proofs of claim for
termination benefits after the expiration of the bar date.  The
Debtors objected to the motion and asserted the necessity of
discovery to explore the claims asserted in the motion.  The
parties entered into multiple stipulations to allow the Debtors to
complete extensive discovery from each individual member of the Ad
Hoc Committee.

The Ad Hoc Committee explained that the Debtors' failure to
provide actual notice requires allowance of the Ad Hoc Committee
members to file claims after the bar date.

                      About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
business in more than 150 countries around the world.  Nortel
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates
commenced a proceeding with the Ontario Superior Court of Justice
under the Companies' Creditors Arrangement Act (Canada) seeking
relief from their creditors.  Ernst & Young was appointed to serve
as monitor and foreign representative of the Canadian Nortel
Group.  That same day, the Monitor sought recognition of the CCAA
Proceedings in U.S. Bankruptcy Court (Bankr. D. Del. Case No.
09-10164) under Chapter 15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy
Court for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., at Cleary Gottlieb
Steen & Hamilton, LLP, in New York, serves as the U.S. Debtors'
general bankruptcy counsel; Derek C. Abbott, Esq., at Morris
Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware
counsel.  The Chapter 11 Debtors' other professionals are Lazard
Freres & Co. LLC as financial advisors; and Epiq Bankruptcy
Solutions LLC as claims and notice agent.

The United States Trustee appointed an Official Committee of
Unsecured Creditors in respect of the U.S. Debtors.  An ad hoc
group of bondholders also was organized.

Fred S. Hodara, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
New York, and Christopher M. Samis, Esq., at Richards, Layton &
Finger, P.A., in Wilmington, Delaware, represent the Official
Committee of Unsecured Creditors.

An Official Committee of Retired Employees and the Official
Committee of Long-Term Disability Participants tapped Alvarez &
Marsal Healthcare Industry Group as financial advisor.  The
Retiree Committee is represented by McCarter & English LLP as
Delaware counsel, and Togut Segal & Segal serves as the Retiree
Committee.  The Committee retained Alvarez & Marsal Healthcare
Industry Group as financial advisor, and Kurtzman Carson
Consultants LLC as its communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

Judge Gross and the court in Canada scheduled trials in 2014 on
how to divide proceeds among creditors in the U.S., Canada, and
Europe.


OCEAN 4660: Files Plan Following Assets Sale
--------------------------------------------
Maria Yip, the Chapter 11 trustee for Ocean 4660, LLC, filed a
Chapter 11 exit plan that proposes to pay off secured and
unsecured creditors from available cash in accordance with the
priorities set forth under the Bankruptcy Code.

The Debtor's Estate was primarily comprised of real property
located at 4660 N. Ocean Drive, Lauderdale-by-the-Sea, Florida
33308.  The Debtor owned and operated a hotel on the beachfront
property.  The hotel featured a beach-front location, two five-
story interior corridor buildings, 147 guest rooms, a beach front
tike bar and grill, a large adjourning restaurant and commercial
kitchen.  In addition, the Debtor's estate consisted of a sublease
of the adjacent parking lot running through the year 2055.

The bankruptcy court in December 2013 entered an order approving
the sale of substantially all assets to a third party bidder at
auction for $17,000,000.  The remaining sale proceeds total
$3,600,000, which sum provides the means for implementing the
Plan.

A copy of the Plan is available for free at:

     http://bankrupt.com/misc/Ocean_4660_Chapter11_Plan.pdf

                         About Ocean 4660

Ocean 4660, LLC filed a Chapter 11 petition (Bankr. S.D. Fla. Case
No. 13-23165) in its hometown on June 2, 2013.  Rick Barreca
signed the petition as chief restructuring officer.  The Company
disclosed $15,762,871 in assets and $16,587,678 in liabilities as
of the Chapter 11 filing.

Judge John K. Olson presides over the case.  The Debtor tapped RKJ
Hotel Management, LLC, as hotel manager and RKJ's Rick Barreca as
the CRO.

The Debtor tapped Genovese Joblove & Battista, P.A. as counsel.
Irreconcilable differences prompted the firm to withdraw as
counsel in July 2013.

The Court approved the appointment of Maria Yip, of Coral Gables,
Florida, as Chapter 11 trustee.  Drew M. Dillworth, Esq., at the
law firm of Stearns Weaver Miller Weissler Alhadeff & Sitterson,
P.A. serves as his counsel.  Kerry-Ann Rin, CPA, and the
consulting firm of Yip Associates serve as financial advisor, and
accountant.

The U.S. Trustee has not appointed an official committee of
unsecured creditors.


OPTIM ENERGY: Walnut Creek Seeks to Prosecute Claims v. Cascade
---------------------------------------------------------------
Walnut Creek Mining Company asks the Bankruptcy Court for
authorization to commence and prosecute certain claims on behalf
of Optim Energy, LLC, et al., against Cascade Investment, L.L.C.
and ECJV Holdings, LLC.

Walnut Creek, largest non-insider creditor, said that the action
arises out of an equity investment strategically designed by the
defendants to benefit themselves to the detriment of the Debtors'
unsecured creditors.

Walnut Creek has undertaken an investigation of the defendant's
liens and claims.  As a result of the investigation, it is
apparent that the Debtors' estates have valid causes of action
against the defendants, and Walnut Creek is prepared to prosecute
those claims on behalf of the Debtors' assets.

According to Walnut Creek, successful prosecution of claims would
result in the recharacterization and subordination of over
$700 million in allegedly secured claims owed to the defendants,
well as affirmative recovery on the tort claims.

Walnut Creek proposed a hearing on May 5, 2014, at 9:00 a.m., to
consider the matter.  Objections, if any, are due April 28, at
4:00 p.m.

                       Stipulation Approved

Meanwhile, the Bankruptcy Court has approved a stipulation
resolving Walnut Creek's motion for adequate assurance of
performance and suspension of performance until adequate assurance
are received.

On Feb. 17, 2014, Walnut Creek, the largest non-insider creditor
of the Debtors, asked the Court to compel Optim Energy to provide
adequate assurance.

The Debtors own and operate three power plants in eastern Texas --
the Twin Oaks Plant, the Altura Cogen Plant and the Cedar Bayou
Plant.

Pursuant to a fuel supply agreement, Walnut Creek, among other
things, delivers and sells to Optim Energy Twin Oaks GP, LLC the
lignite produces at the Walnut Creek mine, which Twin Oaks, in
turn utilizes to generate power at the Twin Oaks Plant.

The stipulation between the Debtors and Walnut Creek provides
that, among other things:

     (1) Walnut Creek will continue to perform its obligations
         under the fuel supply agreement without interruption
         in the ordinary course of business;

     (2) invoicing for lignite deliveries in response to, and
         in compliance with, Twin Oaks' orders after the
         Petition Date will be based upon two-week periods:

         (a) deliveries during the first day  until the 15th day
             of the relevant calendar months; and

         (b) deliveries during the 16th day until the last day of
             the relevant calendar month.

A copy of the stipulation is available for free at:

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

Cascade Investment, L.L.C. and ECJV Holdings, LLC had objected to
Walnut Creek's motion stating that Walnut Creek's request for
adequate assurance of future performance, or alternatively, the
right to unilaterally suspend performance under the fuel supply
agreement is an improper attempt to circumvent Section 365 of the
Bankruptcy Code and inappropriately improve its position as a
result of the Debtors' bankruptcy filing.  Cascade and ECJV said
they filed the objection to preserve their rights to object to the
relief sought in the motion to the extent that the stipulation is
not agreed upon or finalized prior to the hearing.

Margaret Whiteman Greecher, Esq., at Young Conaway Stargatt &
Taylor LLP, and P. Granfield, Esq., at Cleary Gottlieb Steen &
Hamilton LLP represented Cascade and ECJV.

In a separate filing, the Debtor entered into a stipulation
amending the stipulation and protective order dated April 1, 2014.

The stipulation, entered among the Debtors, Walnut Creek Mining
Company, Cascade Investment, L.L.C., ECJV Holdings, LLC, PNM
Resources, Inc. and Wells Fargo Bank, National Association, will
govern the production, review and handling of materials produced
by one Party to another Party in the bankruptcy case, including
any service of document requests and otherwise as provided by the
Federal Rules of Civil Procedure, the Federal Rules of Bankruptcy
Procedure, and the Local Rules of the Court.

The Parties agreed that the definition of "Producing Person" will
include: Walnut Creek, Cascade, the Debtors, PNM Resources, Inc.
and Wells Fargo Bank, National Association.

Anthony W. Clark, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP represents Walnut Creek.

                       About Optim Energy

Optim Energy, LLC, and its affiliates are power plant owners
principally engaged in the production of energy in Texas's
deregulated energy market.  Optim owns and operates three power
plants in eastern Texas: the Twin Oaks plant in Robertson County,
Texas, the Altura Cogen plant in Harris County, Texas and the
Cedar Bayou plant in Chambers County, Texas.  The Altura and Cear
Bayou plants are fueled by natural gas, and the third is coal-
fired.

Optim Energy and its affiliates sought Chapter 11 protection from
creditors (Bankr. D. Del. Lead Case No. 14-10262) on Feb. 12,
2014.

Robert J. Dehney, Esq., at Morris, Nichols, Arsht & Tunnell
LLP; and Kurt Mayr, Esq., at Bracewell and Giuliani LLP represent
the Debtors as counsel.  The Debtors have employed Protiviti Inc.
as restructuring advisors; and Prime Clerk LLC as claims agent.

Optim Energy, LLC scheduled $6,948,418 in assets and $716,561,450
in liabilities.  Optim Energy Cedar Bayou 4, LLC, disclosed
$183,694,097 in assets and $717,646,180 in liabilities as of the
Chapter 11 filing.  The Debtors have $713 million of outstanding
principal indebtedness.

On Feb. 27, 2014, Roberta A. DeAngelis, U.S. Trustee for Region 3,
notified the Bankruptcy Court that she was unable to appoint an
official committee of unsecured creditors in the Debtors' cases.
The U.S. Trustee explained that there were insufficient responses
to her communication/contact for service on the committee.


OPTIM ENERGY: Wants to Continue Management Deal With CPV
--------------------------------------------------------
Optim Energy LLC et al. seek authority from the Bankruptcy Court
to file:

   i) un-redacted copies of the Competitive Power Ventures,
      Inc. management agreement and the CPV motion under seal;
      and

  ii) a redacted version of the CPV motion, and the redacted
      copy of the CPV Management Agreement included, in their
      current form on the docket, to redact confidential
      economic terms the disclosure of which is of concern to
      the Debtors and to CPV.

According to the Debtors, public dissemination of the information
could adversely affect the business of the Debtors and CPV by
placing proprietary business information in the public domain.

The Debtors said their executive management team is outsourced to
CPV pursuant to a prepetition asset management agreement dated as
of Oct. 31, 2011.  CPV provides executive management, contract
administration, accounting, treasury, regulatory compliance, and
other services for the Power Plants.

The Debtors intend to continue performance under a Prepetition
Agreement with CPV regarding the outsourcing of management, nunc
pro tunc to the Petition Date.

Pursuant to the management agreement, CPV is paid additional fees
for providing additional services to the Debtor-affiliate at these
hourly rates:

   Sr. Vice President/Corporate Controller            $325
   Vice Presidents                                    $244
   Directors/Managers/Controller                      $191
   Analysts/Accounts                                  $108
   Administrative                                      $65

A copy of the management agreement is available at:

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

                       About Optim Energy

Optim Energy, LLC, and its affiliates are power plant owners
principally engaged in the production of energy in Texas's
deregulated energy market.  Optim owns and operates three power
plants in eastern Texas: the Twin Oaks plant in Robertson County,
Texas, the Altura Cogen plant in Harris County, Texas and the
Cedar Bayou plant in Chambers County, Texas.  The Altura and Cear
Bayou plants are fueled by natural gas, and the third is coal-
fired.

Optim Energy and its affiliates sought Chapter 11 protection from
creditors (Bankr. D. Del. Lead Case No. 14-10262) on Feb. 12,
2014.

Robert J. Dehney, Esq., at Morris, Nichols, Arsht & Tunnell
LLP; and Kurt Mayr, Esq., at Bracewell and Giuliani LLP represent
the Debtors as counsel.  The Debtors have employed Protiviti Inc.
as restructuring advisors; and Prime Clerk LLC as claims agent.

Optim Energy, LLC scheduled $6,948,418 in assets and $716,561,450
in liabilities.  Optim Energy Cedar Bayou 4, LLC, disclosed
$183,694,097 in assets and $717,646,180 in liabilities as of the
Chapter 11 filing.  The Debtors have $713 million of outstanding
principal indebtedness.

On Feb. 27, 2014, Roberta A. DeAngelis, U.S. Trustee for Region 3,
notified the Bankruptcy Court that she was unable to appoint an
official committee of unsecured creditors in the Debtors' cases.
The U.S. Trustee explained that there were insufficient responses
to her communication/contact for service on the committee.


OPTIM ENERGY: Morris Nichols Approved as Delaware Co-Counsel
------------------------------------------------------------
The Bankruptcy Court authorized Optim Energy, LLC, et al., to
employ Morris, Nichols, Arsht & Tunnell LLP as Delaware bankruptcy
co-counsel.

The Debtors related that by separate order, the Court approved
the employment of Bracewell & Giuliani LLP as bankruptcy counsel.
Morris Nichols as Delaware bankruptcy co-counsel, however, is
necessary and will allow them to operate effectively given Morris
Nichols's specialized knowledge of bankruptcy laws and procedures
in Delaware.  Morris Nichols has discussed with B&G a division of
responsibilities so as to minimize duplication of services on
behalf of the Debtors.

Robert J. Dehney, a partner at Morris Nichols, told the Court that
the hourly rates of the firm's personnel are:

         Partners                           $540 - $925
         Associates and Special Counsel     $295 - $510
         Paraprofessionals                  $230 - $290
         Case Clerks                            $145

Mr. Dehney added that Morris Nichols received payments as an
advance fee for services to be rendered and expenses to be
incurred.  Morris Nichols applied certain amounts against the
advance fee.  Accordingly, Morris Nichols currently holds a
balance of $80,345.

Mr. Dehney assures the Court that Morris Nichols is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                       About Optim Energy

Optim Energy, LLC, and its affiliates are power plant owners
principally engaged in the production of energy in Texas's
deregulated energy market.  Optim owns and operates three power
plants in eastern Texas: the Twin Oaks plant in Robertson County,
Texas, the Altura Cogen plant in Harris County, Texas and the
Cedar Bayou plant in Chambers County, Texas.  The Altura and Cear
Bayou plants are fueled by natural gas, and the third is coal-
fired.

Optim Energy and its affiliates sought Chapter 11 protection from
creditors (Bankr. D. Del. Lead Case No. 14-10262) on Feb. 12,
2014.

The Debtors have tapped Bracewell & Giuliani LLP and Morris,
Nichols, Arsht & Tunnell LLP as attorneys; Protiviti Inc. as
restructuring advisors; and Prime Clerk LLC as claims agent.

Optim Energy, LLC scheduled $6,948,418 in assets and $716,561,450
in liabilities.  Optim Energy Cedar Bayou 4, LLC, disclosed
$183,694,097 in assets and $717,646,180 in liabilities as of the
Chapter 11 filing.  The Debtors have $713 million of outstanding
principal indebtedness.

On Feb. 27, 2014, Roberta A. DeAngelis, U.S. Trustee for Region 3,
notified the Bankruptcy Court that she was unable to appoint an
official committee of unsecured creditors in the Debtors' cases.
The U.S. Trustee explained that there were insufficient responses
to her communication/contact for service on the committee.


OPTIM ENERGY: Prime Clerk Approved as Administrative Agent
----------------------------------------------------------
Bankruptcy Judge Brendan L. Shannon authorized Optim Energy, LLC,
et al., to employ Prime Clerk LLC as administrative agent.

Prime Clerk was previously approved to perform certain claims and
noticing functions for the Debtors.

As administrative agent, Prime Clerk will:

   a. assist with, among other things, solicitation, balloting and
tabulation and calculation of votes for purposes of plan voting;

   b. prepare any appropriate reports, exhibits and schedules of
information; and

   c. prepare an official ballot certification and, if necessary,
testify in support of the ballot tabulation results.

Michael J. Frishberg, co-president and chief operating officer of
Prime Clerk assures the Court that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                       About Optim Energy

Optim Energy, LLC, and its affiliates are power plant owners
principally engaged in the production of energy in Texas's
deregulated energy market.  Optim owns and operates three power
plants in eastern Texas: the Twin Oaks plant in Robertson County,
Texas, the Altura Cogen plant in Harris County, Texas and the
Cedar Bayou plant in Chambers County, Texas.  The Altura and Cear
Bayou plants are fueled by natural gas, and the third is coal-
fired.

Optim Energy and its affiliates sought Chapter 11 protection from
creditors (Bankr. D. Del. Lead Case No. 14-10262) on Feb. 12,
2014.

The Debtors have tapped Bracewell & Giuliani LLP and Morris,
Nichols, Arsht & Tunnell LLP as attorneys; Protiviti Inc. as
restructuring advisors; and Prime Clerk LLC as claims agent.

Optim Energy, LLC scheduled $6,948,418 in assets and $716,561,450
in liabilities.  Optim Energy Cedar Bayou 4, LLC, disclosed
$183,694,097 in assets and $717,646,180 in liabilities as of the
Chapter 11 filing.  The Debtors have $713 million of outstanding
principal indebtedness.

The U.S. Trustee was unable to appoint a creditors committee in
the Debtors' cases.

On Feb. 27, 2014, Roberta A. DeAngelis, U.S. Trustee for Region 3,
notified the Bankruptcy Court that she was unable to appoint an
official committee of unsecured creditors in the Debtors' cases.
The U.S. Trustee explained that there were insufficient responses
to her communication/contact for service on the committee.


ORCKIT COMMUNICATIONS: Extraordinary Meeting Set on May 14
----------------------------------------------------------
The District Court of Tel Aviv has approved Orckit Communications
Ltd.'s request to convene meetings of its creditors and
shareholders to consider a proposed arrangement among the Company
and its wholly-owned subsidiary Orckit Corrigent Ltd., on the one
hand, and its Series A note holders, Series B note holders and
certain other creditors, on the other hand, pursuant to Section
350 of the Israeli Companies Law.

An Extraordinary General Meeting of Shareholders will be held on
Wednesday, May 14, 2014, at 2:00 p.m. (Israel time), at the
offices of the Company, 126 Yigal Allon Street, Tel Aviv, Israel.
The record date for the meeting is April 22, 2014.  A proxy
statement describing the matters on the agenda and a proxy card
for use by shareholders that cannot attend the meeting in person
will be sent by mail to the Company's shareholders that hold
shares registered with the American Stock Transfer & Trust
Company, including shares held via DTC members.

The agenda of the meeting is the approval of the aforesaid
arrangement and related matters, including an amendment to the
Company's articles of association.  The proposal requires the
affirmative approval of a majority by number of the shareholders
voting their shares, in person or by proxy, and holding at least
75 percent of the shares voting on the matter.

The quorum for the meeting is the presence, in person, by proxy or
by written ballot, of at least two shareholders holding at least
25 percent of the Company's outstanding Ordinary Shares.  If a
quorum is not present, the meeting will be adjourned to such day
and at such time and place as the Chairman may determine with the
consent of the holders of a majority of the Ordinary Shares
represented at the meeting in person, by proxy or by written
ballot, and voting on the question of adjournment.  The Company
expects the adjourned meeting, if applicable, to be scheduled for
May 15, 2014, at 2:00 p.m. (Israel time), at the offices of the
Company's company.  At an adjourned meeting, any two shareholders
present in person, by proxy or by written ballot, will constitute
a quorum.

The creditor meeting was scheduled for May 4, 2014, at 2:00 p.m.
(Israel time).

Representatives of the Company and the note holders have reached
an agreement in principle regarding the proposed creditor
arrangement, but the definitive terms and provisions of the
proposed arrangement have not yet been finalized.  There can be no
assurance that a definitive agreement will be reached and approved
by the creditors and the shareholders of the Company.  Under
applicable law, the arrangement also requires the approval of the
Tel Aviv District Court and the Tel Aviv Stock Exchange.

                            About Orckit

Tel-Aviv, Israel-based Orckit Communications Ltd. (TASE: ORCT)
engages in the design, development, manufacture and marketing of
advanced telecom equipment to telecommunication service providers
in metropolitan areas.  The Company's products are transport
telecommunication equipment targeting high capacity packetized
metropolitan networks.

Orckit disclosed a net loss of $6.46 million on $11.19 million of
revenues for the year ended Dec. 31, 2012, as compared with a net
loss of $17.38 million on $15.58 million of revenues for the year
ended Dec. 31, 2011.  The Company's balance sheet at Sept. 30,
2013, showed $12.44 million in total assets, $24.03 million in
total liabilities and a $11.59 million total capital deficiency.

Kesselman & Kesselman, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2012.  The independent auditors noted that the Company has a
capital deficiency, recurring losses, negative cash flows from
operating activities and has significant future commitments to
repay its convertible subordinated notes.  These facts raise
substantial doubt as to the Company's ability to continue as a
going concern.


PACIFIC GAS: Pleads Not Guilty to Charges From San Bruno Explosion
------------------------------------------------------------------
Cassandra Sweet, writing for The Wall Street Journal, reported
that PG&E Corp. pleaded not guilty to criminal charges that the
company knowingly broke federal safety rules before a fatal
natural gas pipeline explosion in San Bruno, Calif., in 2010.

"While we don't believe any employee intentionally violated
federal pipeline safety regulations, San Bruno was a tragic
accident and we're accountable for that," PG&E said in a statement
following the arraignment in federal court in San Francisco, the
report related.

Earlier this month, a federal grand jury issued a 12-count
indictment accusing PG&E of "knowingly and willfully" failing to
keep important pipeline records and not paying proper attention to
parts of its aging natural gas pipelines, including the section
that exploded, the report further related.

If found guilty of all 12 felonies, PG&E could face nearly $3.5
million in statutory penalties, according to the report.  The
court also could impose an alternative fine based on any financial
gain the company received as a result of the violation or on
victims' losses, according to the U.S. Justice Department, which
is prosecuting the case with the California Attorney General's
office.

The indictment alleges Pacific Gas & Electric Co. of knowingly
violating the federal Pipeline Safety Act, which dates back to
1968, between 2003 and 2010, the report said.  In the only
previous criminal case brought under the act, Olympic Pipeline Co.
and three of its employees pleaded guilty in 2002 to violating
pipeline safety rules before a petroleum pipeline exploded in
1999, killing three people in Bellingham, Wash.

                     About PG&E Corporation

Headquartered in San Francisco, California, PG&E Corporation
(NYSE:PCG) -- http://www.pgecorp.com/-- is an energy-based
holding company.  The company's operations include electric and
gas distribution, natural gas and electric transmission, and
electric generation.  It is the parent company of Pacific Gas and
Electric Company.

Pacific Gas filed for Chapter 11 protection on April 6, 2001
(Bankr. N.D. Calif. Case No. 01-30923).  James L. Lopes, Esq.,
William J. Lafferty, Esq., and Jeffrey L. Schaffer, Esq., at
Howard, Rice, Nemerovski, Canady, Falk & Rabkin represent the
Debtors in their restructuring efforts.  On June 30, 2001, the
Company listed $23,216,000,000 in assets and $22,152,000,000 in
debts.  Pacific Gas emerged from chapter 11 protection April 12,
2004, paying all creditors 100 cents-on-the-dollar plus
postpetition interest.


PHIBRO ANIMAL: S&P Raises CCR to 'B+' & Removes Rating from Watch
-----------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Phibro Animal Health Corp. to 'B+' from 'B' and removed
it from CreditWatch with positive implications, where S&P placed
it on March 11, 2014.  The outlook is stable.

"We upgraded the company because it has completed an IPO and we
expect the company to use the proceeds to reduce leverage," said
credit analyst Tulip Lim.  "We are also revising our financial
risk profile to "significant" from "aggressive", reflecting pro
forma adjusted leverage of 3.6x at Dec. 31, 2013."

The outlook is stable and reflects S&P's expectation that revenue
will grow at a low- to mid-single-digit pace, but that margins
will continue to expand.  It also reflects S&P's expectation that
leverage will decline because of EBITDA growth but remain above 3x
over the near-term.

Upside scenario

S&P could raise the rating if operating performance continues to
improve and it become convinced that leverage will decline and
remain below 3x.  This could occur if revenue grows at a high-
single-digit pace and margins improve by more than 150 bps.

Downside scenario

S&P could lower the rating if operating weakness causes leverage
to rise above 4x.  This could be caused by a low-single-digit
decline in revenue and a 100-bp or more decline in EBITDA margin.


PLATFORM SPECIALTY: S&P Puts 'B+' CCR on CreditWatch Positive
-------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings, including
the 'B+' corporate credit rating, on Miami-based Platform
Specialty Products Corp. on CreditWatch with positive
implications, meaning S&P could raise or affirm the ratings upon
completion of our review.

"The CreditWatch placement follows the announcement that Platform
has entered into a definitive agreement to acquire CAS From
Chemtura Corp. for about $1 billion," said Standard & Poor's
credit analyst Seamus Ryan.  S&P expects the transaction to close
in the second half of 2014.  S&P will resolve the CreditWatch
placement based on its view of the combined company's financial
risk profile after the company determines its permanent financing
plan, as well as S&P's view of the company's business risk profile
after the close of this large acquisition.

The ratings on Platform reflect S&P's expectations that the
company's continued focus on new product development and ongoing
cost-reduction efforts will support high, stable EBITDA margins
and steady free cash flow generation, even with some end-market
cyclicality.  The company's financial profile has improved
following its change in ownership but its growth strategy remains
a risk factor.  S&P characterizes Platform's business risk profile
as "fair" and its financial risk profile as "aggressive".  S&P's
ratings also reflect a one-notch downward adjustment for
comparable ratings analysis, based on its view of the risks
associated with the company's somewhat uncertain strategy and
short track record since the acquisition of MacDermid Inc.

"We expect to resolve the CreditWatch placement once further
details about the company's permanent financing plans are
available, which should occur within the next 90 days, and after
meeting with management to discuss the company's further growth
plans.  Based on the likely reassessment of our business risk
profile, we could raise the ratings modestly if we expect the
company's financing plan to result in pro forma debt to EBITDA
below 5.0x.  Alternatively, we could affirm the ratings if we
expect the company's financing plan or further growth investment
to result in pro forma leverage increasing to 5x or more," S&P
said.


PLC SYSTEMS: Extends Third Closing Under 2011 Purchase Agreement
----------------------------------------------------------------
PLC Systems Inc. entered into an Amendment and Waiver to the
Securities Purchase Agreement dated Feb. 22, 2011, by and between
the Company and certain accredited investors, as amended, with
certain Investors holding a majority of the outstanding debentures
sold under the Purchase Agreement.  Pursuant to the terms of the
Amendment and Waiver, the Purchase Agreement was revised to extend
the period in which a third closing for up to $750,000 can occur,
to waive certain corporate milestones as conditions to that third
closing and to waive any defaults under the Purchase Agreement.

In connection with the Amendment and Waiver, the Company issued
and sold to GCP IV LLC, and GCP purchased from the Company, (i) a
5 percent Senior Secured Convertible Debenture of the Company with
a principal amount of $250,000, and (ii) a Common Stock Purchase
Warrant to purchase up to 4,166,667 shares of the Company's common
stock at an initial exercise price of $0.09 per share, for a total
purchase price of $250,000.

The Debenture bears interest at a rate of 5 percent per annum,
payable quarterly, and matures on July 2, 2015.  The Debenture is
convertible, at GCP's option, at any time prior to repayment of
the Debenture Amount into shares of Common Stock at an initial
conversion price of $0.06 per share.  The Conversion Price is
adjustable for certain dilutive issuances, including issuances of
securities at an effective price per share lower than the
Conversion Price, rights offerings, mergers or sales of assets and
certain other customary anti-dilution provisions.

The Company's obligations under the Debenture and the Purchase
Agreement are secured by all of the assets of the Company and its
subsidiaries.  The Debenture contains covenants restricting the
Company and its subsidiaries from, among other things, incurring
debt, granting liens, amending organizational documents,
repurchasing or repaying other debt, paying cash dividends, and
entering into transactions with affiliates.  Following an event of
default, the interest rate on the Debenture will increase to 16
percent per annum and, at the election of the holder, the
Debenture Amount may be accelerated and payable at a price equal
to the greater of (i) 130 percent of the principal amount
outstanding and (ii) an amount equal to a price based on the
trading price of the Common Stock multiplied by the number of
Debenture Shares, plus, in each case, accrued interest.

The Debenture may be redeemed at the option of the Company only in
connection with a change of control of the Company or other
fundamental transaction and subject to the satisfaction of certain
other conditions including that the shares issuable upon
conversion of the Debenture are freely tradable and that there is
no event of default.  The redemption price is the greater of (i)
130 percent of the Debenture Amount and (ii) an amount equal to a
price based on the trading price of the Common Stock multiplied by
the number of Debenture Shares, plus, in each case, accrued
interest.

In connection with the Amendment and Waiver, the Company also
issued to GCP a five year Warrant to purchase 4,166,667 shares of
Common Stock at an exercise price of $0.09 per share.  The Warrant
may be exercised on a cashless basis if there is no effective
registration statement registering the Warrant Shares.  The
Exercise Price is adjustable for certain dilutive issuances,
including issuances of securities at an effective price per share
lower than the Exercise Price, rights offerings, mergers or sales
of assets and certain other customary anti-dilution provisions.

The Warrant provides that the Warrant may be purchased at the
option of the Company only in connection with a change of control
of the Company that is an all cash transaction.  The purchase
price upon that change of control will be 30 percent of the then
effective Exercise Price multiplied by the number of Warrant
Shares.

                          About PLC Systems

Milford, Massachusetts-based PLC Systems Inc. is a medical device
company specializing in innovative technologies for the cardiac
and vascular markets.  The Company's key strategic growth
initiative is its newest marketable product, RenalGuard(R).
RenalGuard is designed to reduce the potentially toxic effects
that contrast media can have on the kidneys when it is
administered to patients during certain medical imaging
procedures.

PLC Systems reported net income of $3.49 million in 2013, as
compared with a net loss of $8.38 million in 2012.  As of Dec. 31,
2013, the Company had $1.55 million in total assets, $8.20 million
in total liabilities and a $6.64 million total stockholders'
deficit.

McGladrey LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses and negative cash flows
from operations, which raises substantial doubt about its ability
to continue as a going concern.


POST HOLDINGS: S&P Puts 'B' CCR on CreditWatch Negative
-------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings, including
its 'B' corporate credit rating, on St. Louis-based Post Holdings
Inc. on CreditWatch with negative implications, meaning that S&P
could lower or affirm the ratings following the completion of its
review.

Post's CreditWatch negative listing follows its announcement of
its plans to purchase Michael Foods Group Inc.

"We believe that the transaction could weaken Post's credit
protection measures.  We estimate that Post's pro forma leverage
was roughly 7x (including 50% of preferred stock as debt) for its
recent acquisitions and bond offering in March 2014," said credit
analyst Bea Chiem.

S&P will resolve the CreditWatch listings following its review of
the financial and business risk impacts.  Upon completion of S&P's
review, the ratings for Post could remain unchanged or be lowered.

S&P estimates Post currently has more than $2.6 billion of
adjusted debt outstanding.


PRINTPACK HOLDINGS: S&P Assigns 'B' CCR; Outlook Stable
-------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Atlanta-based Printpack Holdings Inc.  The
outlook is stable.

At the same time, based on preliminary terms and conditions, S&P
assigned a 'B' issue rating (the same as the corporate credit
rating) to Printpack Holdings' proposed $350 million senior
secured term loan maturing in 2021.  The recovery rating on this
debt is '3', indicating S&P's expectation for meaningful (50% to
70%) recovery in the event of a payment default.  The credit
facility also includes a proposed $180 million asset-based
revolving credit facility (unrated).  Proceeds will be used to
refinance existing debt and to partly fund the company's ongoing
capital improvement project.

"Our 'B' rating on Printpack Holdings Inc. has been derived from
our anchor of 'b+', based on our assessments of a 'weak' business
risk and 'aggressive' financial risk profile for the company,"
said Standard & Poor's credit analyst Liley Mehta.  S&P has
adjusted its initial rating outcome downward by one notch using a
comparative ratings analysis.

"Based on our base-case expectations, we believe Printpack's
credit measures will be weaker than those of other companies we
deem as having aggressive financial risk profiles, and improved
earnings and credit measures are dependent on the timely
completion of the capital improvement program.  We expect the
company to have negative free cash generation in fiscal 2014 (year
ending June 30, 2014) and fiscal 2015, and face some
implementation risk associated with the capital improvement
project and related cost savings.  All other modifiers are neutral
for the rating," S&P said.

The stable outlook reflects S&P's expectation that the company
will improve earnings and cash from operations in fiscal 2015, and
maintain both adequate liquidity and a financial policy consistent
with the current ratings.  S&P expects Standard & Poor's-adjusted
debt to EBITDA of 4.5x to 5x and FFO to total adjusted debt that
ranges between 12% to 15%, levels that S&P considers appropriate
for the rating.

S&P could lower the rating if earnings and cash flows are lower
than it estimates either because the company's key customers fail
to renew their contracts, or if Printpack is unable to achieve
planned cost savings, such that Standard & Poor's-adjusted debt to
EBITDA ratio is at and remains above 5x with no prospects for
recovery.  This could result from a decline in EBITDA margin of
100 basis points or more and a 2% or more decline in sales volume.

Although unlikely in the near term, S&P could raise the rating if
the company generates meaningful positive free cash and uses it to
reduce debt, such that debt leverage improves to the low end of
the aggressive range with adjusted debt to EBITDA ratio remaining
in the 4x to 4.5x range on a sustainable basis.


RADIAN GROUP: May 7 Conference Call Set to Discuss Q1 Results
-------------------------------------------------------------
Radian Group Inc. on April 17 disclosed that it will hold a
conference call on Wednesday, May 7, 2014, at 10:00 a.m. Eastern
time to discuss the company?s first quarter 2014 results, which
will be announced after the market closes on Tuesday, May 6, 2014.

The conference call will be broadcast live over the Internet at
http://www.radian.biz/page?name=Webcastsor at www.radian.biz
The call may also be accessed by dialing 800.230.1096 inside the
U.S., or 612.332.0226 for international callers, using passcode
324499 or by referencing Radian.

A replay of the webcast will be available on the Radian website
approximately two hours after the live broadcast ends for a period
of one year.  A replay of the conference call will be available
approximately two and a half hours after the call ends for a
period of two weeks, using the following dial-in numbers and
passcode: 800-475-6701 inside the U.S., or 320-365-3844 for
international callers, passcode 324499.

In addition to the information provided in the company's earnings
news release, other statistical and financial information, which
is expected to be referred to during the conference call, will be
available on Radian's website under Investors >Quarterly Results,
or by clicking on http://www.radian.biz/page?name=QuarterlyResults

                           About Radian

Headquartered in Philadelphia, Radian Group Inc. --
http://www.radian.biz-- provides private mortgage insurance and
related risk mitigation products and services to mortgage lenders
nationwide through its principal operating subsidiary, Radian
Guaranty Inc.  These services help promote and preserve
homeownership opportunities for homebuyers, while protecting
lenders from default-related losses on residential first mortgages
and facilitating the sale of low-downpayment mortgages in the
secondary market.

                           *     *     *

As reported by the Troubled Company Reporter on March 4, 2013,
Standard & Poor's Ratings Services said that it has affirmed all
of its ratings on Radian Group Inc.  At the same time, S&P revised
the outlook to stable from negative.  S&P also assigned its 'CCC+'
senior unsecured debt rating to the company's proposed
$350 million convertible senior notes.

As reported by the Troubled Company Reporter on Oct. 17, 2012,
Standard & Poor's Rating Services raised its long-term issuer
credit ratings on Radian Group Inc. (RDN) to 'CCC+' from 'CCC-'
and MGIC Investment Corp. (MTG) to 'CCC+' from 'CCC'. The
financial strength ratings for both RDN's and MTG's respective
operating companies are unchanged.  The outlook on both companies
is negative.

"The outlook for each company is negative, reflecting the
continuing risk of significant adverse reserve development; the
current trajectory of operating performance; and the expected
impact ongoing losses will have on their capital positions," S&P
said in October 2012.  "We expect operating performance to
deteriorate for the rest of the year for both companies,
reflecting the affect of normal adverse seasonality on new notices
of delinquency and cure rates, and the lack of greater improvement
in the job markets."


REICHHOLD INDUSTRIES: S&P Lowers CCR to 'CCC'; Outlook Negative
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Reichhold Industries Inc. by two notches, to 'CCC' from
'B-'.  The outlook is negative.

At the same time, S&P lowered its issue rating on the company's
senior secured notes by two notches, to 'CCC-' from 'CCC+'.  The
recovery rating is unchanged at '5', indicating S&P's expectation
of modest (10% to 30%) recovery in the event of a default.

"The downgrade reflects the likelihood that continued weak
operating performance will lead to negative cash flow and weakened
liquidity in 2014," said Standard & Poor's credit analyst Seamus
Ryan.  In S&P's view, the company's financial commitments appear
unsustainable over the next year, with expected debt to EBITDA
approaching 15x and constrained liquidity potentially limiting the
company's ability to make its November 2014 interest payment.

The ratings on Durham, N.C.-based Reichhold reflect the company's
"highly leveraged" financial risk profile and "vulnerable"
business risk profile.  The ratings also reflect S&P's assessment
of the company's liquidity as "weak" and its expectation that the
company will require meaningful positive developments to meet its
financial commitments over the next year.

The negative outlook reflects S&P's expectation that continued
industry weakness and limited cost-structure flexibility will not
allow Reichhold to greatly improve operating performance in 2014.
S&P expects these problems to constrain liquidity and increase the
risk of a default or debt restructuring in 2014.

S&P could lower the ratings during the next few quarters if
earnings and cash flows do not improve to the point that S&P
believes Reichhold will be in a position to meet its financial
commitments in 2014.  S&P could also lower ratings if the company
voluntarily restructures, exchanges, or repurchases its debt such
that holders receive less than the original promise.

S&P regards an upgrade as unlikely, given the company's existing
capital structure.  However, S&P could consider modestly higher
ratings if improvements in operating performance led to a better
liquidity position and an increased likelihood of Reichhold
meeting its financial commitments over the next 12 month period.


ROCKET SOFTWARE: S&P Lowers CCR to 'B' on Dividend Recap
--------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Waltham, Mass.-based Rocket Software Inc. to 'B'
from 'B+'.  The outlook is stable.

At the same time, S&P assigned a 'B+' issue-level rating to the
company's proposed $550 million senior secured first-lien term
loan due 2020 and $25 million revolving credit facility due 2019.
The '2' recovery rating indicates S&P's expectation for
substantial recovery (70% to 90%) in the event of payment default.

S&P also assigned a 'B-' issue-level rating to the company's
proposed $175 million second-lien term loan due 2021.  The '5'
recovery rating indicates S&P's expectation for modest recovery
(10% to 30%) in the event of payment default.

S&P will withdraw its ratings on Rocket's existing debt following
the completion of the transaction.

"The downgrade reflects our revision of Rocket's financial risk
profile to 'highly leveraged' from 'aggressive' based on leverage
that will increase to the low-6x area from 4x following the
transaction," said Standard & Poor's credit analyst Christian
Frank.

The ratings also reflect the company's "fair" business risk,
revised from "weak" based on its above-average profitability.
Partially offsetting Rocket's high recurring revenue and good
profitability are its niche position in the market for
infrastructure software and the presence of larger and better
funded competitors.

The stable outlook reflects S&P's expectation that Rocket's
revenue base will remain highly recurring and that profitability
will remain stable.

If competition from larger business rivals intensifies, leading to
pricing pressure, or if the company increases costs for research
and development, profitability could weaken.  Also, the company
could pursue debt-financed acquisitions.  S&P could lower the
rating if these scenarios result in leverage sustained above the
mid-7x area.

The possibility of an upgrade is limited by the company's private
equity ownership structure that S&P believes will preclude
sustained de-leveraging.


SALESFORCE.COM INC: S&P Withdraws 'BB' Corporate Credit Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services said it withdrew its
unsolicited ratings on Salesforce.com Inc., including the 'BB'
corporate credit rating.

"We withdrew our unsolicited ratings on Salesforce.com based on
lack of investor interest," said Standard & Poor's credit analyst
Phil Schrank.


SANUWAVE HEALTH: Kevin Richardson Appointed Co-CEO
--------------------------------------------------
The board of directors of SANUWAVE Health, Inc., appointed Kevin
A. Richardson, II, to serve as co-chief executive officer and
principal executive officer of the Company.  Mr. Richardson has
been Chairman of the board of directors of the Company since
August 2005.

Mr. Richardson, age 45, joined the Company as chairman of the
board of directors in October of 2009 and joined SANUWAVE Inc. as
chairman of the board of directors in August of 2005.

Mr. Richardson has a broad array of financial knowledge for
healthcare and other industries.  Since 2004, Mr. Richardson has
served as managing partner of Prides Capital LLC, an investment
management firm.  Mr. Richardson is also a member of the board of
directors of As Seen On TV, Inc., a publicly traded company, and
Pegasus Solutions, Inc., a travel technology company.

There are no other arrangements or understandings between the
Company and Mr. Richardson, except for Mr. Richardson's role as a
director of the Company.  There are no family relationships
between Mr. Richardson and any executive officer or director of
the Company.

                       About SANUWAVE Health

Alpharetta, Ga.-based SANUWAVE Health, Inc., is an emerging global
regenerative medicine company focused on the development and
commercialization of noninvasive, biological response activating
devices for the repair and regeneration of tissue, musculoskeletal
and vascular structures.

SANUWAVE reported a net loss of $11.29 million on $800,029 of
revenue for the year ended Dec. 31, 2013, as compared with a net
loss of $6.40 million on $769,217 of revenue in 2012.  The
Company's balance sheet at Dec. 31, 2013, showed $1.58 million
in total assets, $7.71 million in total liabilities and a $6.12
million total stockholders' deficit.

BDO USA, LLP, in Atlanta, Georgia, did not issue a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors previously
expressed substantial doubt about the Company's ability to
continue as a going concern in their report on the consolidated
financial statements for the year ended Dec. 31, 2012.  The
independent auditors noted that the Company has suffered recurring
losses from operations, has a net working capital deficit, and is
economically dependent upon future issuances of equity or other
financing to fund ongoing operations, each of which raise
substantial doubt about its ability to continue as a going
concern.


SBARRO LLC: No Quick Exit; Plan Hearing Adjourned Sine Die
----------------------------------------------------------
Sbarro LLC has pushed back the combined hearing to consider
confirmation of the Debtors' prepackaged joint plan of
reorganization and approval of the explanatory disclosure
statement.

The U.S. Bankruptcy Court originally set the Combined Hearing for
April 25 at 10 a.m.  Objections to the Plan documents were due
April 17.

According to a notice posted Thursday, the Confirmation Hearing
has been adjourned and the Objection Deadline will be extended.
The Debtors will file a subsequent notice to notify all parties in
interest of the time and date of the rescheduled Confirmation
Hearing and new Objection Deadline.

The Proposed Chapter 11 Plan is a pre-packaged, pre-solicited
chapter 11 plan that was negotiated without the input of trade
creditors and landlords, the latter of whom will hold tens of
millions of dollars in rejection damage claims on account of the
Debtors' proposed rejection of at least 183 store leases.  Unless
a third party submits an indication of interest prior to the April
14, 2014 deadline, the Debtors will abandon the sale process and
move forward with the debt-for-equity conversion of the First-Out
Loan into substantially all of the equity of the reorganized
Debtors through a $35 million "credit bid."  The Plan provides no
recovery to unsecured creditors other than holders of the fully
undersecured Second-Out Loan claims.  The Debtors assert that the
Prepetition Secured Lenders, 98% of whom voted to accept the
Chapter 11 Plan, are impaired under the plan. Accordingly, the
Debtors have not solicited acceptances from unsecured creditors
and will seek to confirm the Proposed Chapter 11 Plan via
"cramdown" pursuant to section 1129(b) of the Bankruptcy Code.

Pursuant to the Plan, the holders of the DIP Facility Loans will
be deemed to have made exit loans to the Debtors on the Closing
Date in an aggregate principal amount of $[20,618,556.70].  This
aggregate amount represents a conversion of the $20m DIP loans
(assuming these are fully drawn and not subject to repayments) as
adjusted to reflect 3% OID.

On April 8, the Bankruptcy Court approved Sbarro's Motion for
Entry of an Order (A) Approving Procedures for Alternative
Restructuring Transaction Proposals, (B) Scheduling Proposal
Deadlines and an Auction, and (C) Approving the Form and Manner of
Notice thereof.

The bid procedures create an overbid aucton process whereby third
parties can submit higher or otherwise better proposals than the
Porposed Joint Prepackaged Chapter 11 Plan of Reorganization
currently on file.  The procedures contemplate that if no
preliminary proposals providing for greater creditor recoveries
are received by April 14, Sbarro may proceed to seek confirmation
of the Prepackaged Plan without continuing the sale process.

According to the bid procedures, if the Debtors receive competing
qualified bids, they will conduct an auction May 21 at 10 a.m. at
the New York offices of Kirkland & Ellis, their bankruptcy
counsel.

Through April 21, several entities have filed objections to
Sbarro's April 7-dated notice of proposed assumption of exectory
contracts or unexpired leases, and the proposed cure amounts to be
paid with respect to those contracts or leases.  These entities
include:

     -- Farmore Realty, Inc.;
     -- Taubman Landlords;
     -- Jones Lang LaSalle Americas, Inc.;
     -- Union Station Investco, LLC;
     -- Rouse Properties Inc.;
     -- Aventura Mall Venture
     -- N. Wasserstrom & Sons Inc.;
     -- GGP Limited Partnership and Galleria Mall Investors LP;
     -- Simon Property Group Inc.;
     -- CBL & Associates Management Inc.;
     -- Starwood Retail Partners LLC, The Forbes Company, The
        Macerich Company;
     -- Glimcher Properties Limited Partnership, Glimcher
        Ashland Venture, LLC, PFP Columbus, LLC, Glimcher
        Westshore, LLC, and Watercress Associates, LP.

On April 8, the Court issued an Order Authorizing and Approving
Expedited Procedures for the Debtors to Reject Unexpired Leases.

The Court has scheduled a hearing on the proposed assumption and
cure on April 25.

On April 7, the Debtors have filed supplements to the Plan,
including:

     Exhibit A: Exit Facility Documentation
     Exhibit B: Assumed Executory Contract/Unexpired Lease List
     Exhibit C: Rejected Executory Contracts and Unexpired Lease
                List
     Exhibit D: Shareholders Agreement
     Exhibit E: Certificate of Incorporation
     Exhibit F: Bylaws
     Exhibit G: Members of the New Board
     Exhibit H: Transaction Steps to Establish New Franchising
                Entity

A copy of the Plan Supplement is available at:

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

                          About Sbarro

Pizza chain Sbarro sought Chapter 11 bankruptcy protection
together with several affiliated entities (Sbarro LLC, Bankr.
S.D.N.Y. Lead Case No. 14-10557) on March 10, 2014, in Manhattan.
Bankruptcy Judge Martin Glenn presides over the Debtors' cases.

The bankruptcy filing came after Sbarro said in February it would
155 of the 400 restaurants it owns in North America.

Bankruptcy Judge Martin Glenn presides over the 2014 case.  Nicole
Greenblatt, Esq., James H.M. Sprayregen, Esq., Edward O. Sassower,
Esq., and David S. Meyer, Esq., at Kirkland & Ellis, LLP,
represent Sbarro.  Mark Hootnick, Brian Bacal, Gregory Doyle, and
Roger Wood at Moelis & Company, serve as Sbarro's investment
bankers.  Loughlin Management serves as the financial advisors.
Prime Clerk LLC serves as claims and noticing agent, and
administrative advisor.

Melville, N.Y.- based Sbarro LLC listed $175.4 million in total
assets and $165.2 million in total liabilities.  The petitions
were signed by Stuart M. Steinberg, authorized individual.

This is Sbarro's second bankruptcy filing in three years.  The
corporate entity was then known as Sbarro Inc., which, together
with several affiliates, filed Chapter 11 petitions (Bankr.
S.D.N.Y. Lead Case No. 11-11527) on April 4, 2011, in Manhattan.
Sbarro Inc. disclosed $51,537,899 in assets and $460,975,646 in
liabilities in the 2011 petition.

Bankruptcy Judge Shelley C. Chapman presided over the 2011 case.
In the 2011 case, Edward Sassower, Esq., and Nicole Greenblatt,
Esq., at Kirkland & Ellis, LLP, served as the Debtors' general
bankruptcy counsel; Rothschild, Inc., as investment banker and
financial advisor; PriceWaterhouseCoopers LLP as bankruptcy
consultants; Marotta Gund Budd & Dzera, LLC, as special financial
advisor; Curtis, Mallet-Prevost, Colt & Mosle LLP as conflicts
counsel; Epiq Bankruptcy Solutions, LLC, as claims agent; and Sard
Verbinnen & Co as communications advisor.

Sbarro Inc. emerged from Chapter 11 protection seven months later,
in November 2011, after Judge Chapman confirmed a Plan of
Reorganization that handed ownership of the company to the pre-
bankruptcy first lien lenders.  Under the terms of the Plan,
Sbarro reduced debt by approximately 73%, or $295 million (from
approximately $405 million to $110 million, plus any amounts
funded under a new money term loan facility), by converting 100%
of the outstanding amount of the $35 million post-petition debtor-
in-possession financing into an equal amount of a newly issued
$110 million senior secured exit term loan facility; and
converting approximately $173 million in prepetition senior
secured debt held by the Company's prepetition first lien lenders
into the remaining exit term loan facility and 100% of the common
equity of the reorganized company (subject to dilution by shares
issued under a management equity plan); and eliminating all other
outstanding debt.

In January 2014, Standard & Poor's Ratings Services lowered
Sbarro's corporate credit rating further into junk category -- to
'CCC-' from 'CCC+' -- with negative outlook; and The Wall Street
Journal reported pizza chain enlisted restructuring lawyers at
Kirkland & Ellis LLP and bankers at Moelis & Co.

On March 5, 2014, the Debtors commenced solicitation of the
Proposed Joint Prepackaged Chapter 11 Plan of Reorganization.  The
Plan received near unanimous support from the Debtors' prepetition
secured lenders, with Holders of approximately 98% of the
outstanding Prepetition Secured Lender Claims in dollar amount
voting to accept the Plan.

On March 26, 2014, the United States Trustee appointed an official
committee of unsecured creditors, consisting of (i) Performance
Food Group, Inc., (ii) PepsiCo Sales, Inc., (iii) GGP Limited
Partnership, (iv) Simon Property Group, Inc., and (v) The Macerich
Company.  The Committee is represented by Jay R. Indyke, Esq.,
Cathy $R. Herschopf, Esq., Seth Van Aalten, Esq., and Alex
Velinsky, Esq., at Cooley LLP.  Mesirow Financing Consulting, LLC
serves as its financial advisors.

Counsel for the Prepetition Agent and DIP Agent is Milbank, Tweed,
Hadley & McCloy LLP's Evan R. Fleck, Esq.


SBARRO LLC: Committee's Challenge Against Lenders Due June 9
------------------------------------------------------------
In the Chapter 11 cases of Sbarro LLC, the Bankruptcy Court has
approved a stipulation and agreed order among the Debtors, the
Official Committee of Unsecured Creditors appointed in these
chapter 11 cases, and Cantor Fitzgerald Securities, in its
capacities as Prepetition Agent and DIP Agent.

On March 12, 2014, the Court entered the Interim Order (I)
Authorizing the Debtors to Obtain Postpetition Financing and to
Use Cash Collateral, (II) Granting Adequate Protection to
Prepetition Secured Lenders, (III) Scheduling a Final Hearing, and
(IV) Granting Related Relief, granting, on an interim basis,
certain of the relief requested in the DIP Motion.

The Lenders have committed to provide up to $20 million in
postpetition secured financing.

Pursuant to the proposed Final DIP Order, the Debtors have
stipulated that the Prepetition Secured Lenders hold valid and
enforceable claims in the aggregate amount of $148.2 million,
which includes a $61.3 million claim for outstanding firstout
term loans -- First-Out Loan -- and a $86.9 million claim for
outstanding second-out term loans -- Second-Out Loan -- both of
which are secured by substantially all of the Debtors' prepetition
assets.  By the proposed Final DIP Order, the Debtors seek
authorization to grant the DIP Lenders/ Prepetition Secured
Lenders new and adequate protection liens on, and superpriority
claims to the proceeds of, substantially all of the Debtors?
prepetition and postpetition assets.

On April 7, 2014, the Committee filed an objection to the DIP
financing motion.  According to the Committee, having failed to
adequately deleverage their balance sheet and right size their
operations under the plan confirmed in the prior chapter 11 cases
less than three years ago, the Prepetition Secured Lenders -- who
are also the Debtors' equity owners -- now seek to utilize the
chapter 11 process to achieve those goals without any regard for
the treatment of unsecured creditors.  The 2014 chapter 11 cases
are riddled with concerns for unsecured creditors, many of which
the Court noted at the March 12, 2014 first-day hearing in these
cases. Taken individually and together, the DIP Motion and the
proposed pre-packaged and pre-solicited joint chapter 11 plan set
forth the Prepetition Secured Lenders' blueprint to convert their
remaining prepetition debt into the new equity of the Debtors,
while simultaneously attempting to:

     a) Provide no return to unsecured creditors, including
landlords whose rejection damage claims will be tens of millions
of dollars on account of the Debtors' proposed rejection of at
least 183 store leases;

     b) Obtain new and adequate protection liens and security
interests on, and superpriority claims to the proceeds of,
previously unencumbered assets, including the Debtors' foreign
intellectual property rights, the Debtors' leaseholds and the
proceeds thereof and the Avoidance Actions;

     c) Submit a "credit bid" for all of the Debtors' assets,
including the previously unencumbered assets, well in advance of
the expiration of the Committee's lien investigation and challenge
period; and

     d) Obtain non-debtor releases, including as against the
Debtors' insiders, owners and lenders, thereby eliminating
potentially valuable assets to unsecured creditors under any
transaction scenario.

In the Debtors' Liquidation Analysis, the Debtors value their
"Franchise and Trademark" assets (i) at approximately $123 million
on a going concern basis, representing more than 70% of the
Debtors' total estimated enterprise value, and (ii) at between
$18.8 million and $20.3 million on a liquidation basis,
representing approximately 43% of the Debtors' total estimated
liquidation value.  The Debtors' valuation of their "Franchise and
Trademark" assets does not include separate values for the
Debtors' domestic and foreign intellectual property assets.
However, the Debtors have represented that their international
franchises, with markets that include Russia, Turkey, the
Philippines, Mexico, and India, are "relatively vibrant" with
approximately 60 new international franchises having opened during
2013 alone.

The Debtors also value their "Leases" (net of commissions) at
between $6.8 million and $13.7 million on a liquidation basis.

The Committee said its primary concern is aimed at the potentially
significant unencumbered assets of these estates and the terms of
the proposed DIP Facility and Proposed Chapter 11 Plan that serve
to remove this value from the reach of unsecured creditors.  The
Committee recognizes that the Debtors require postpetition
financing and is willing to support a chapter 11 process that
furthers the interests of the Prepetition Secured Lenders.  But
the Committee will not support a path for these chapter 11 cases
that preordains the Prepetition Secured Lenders' desired result
without compensating unsecured creditors for the valuable
unencumbered assets that the Prepetition Secured Lenders propose
to purchase.

The Committee said its preliminary findings dictate that the
Prepetition Secured Lenders' liens and/or security interests in
the Foreign IP Assets were not validly perfected under applicable
law prior to the Petition Date, and are potentially avoidable
pursuant to 11 U.S.C. Sec. 544.

The Debtors, the Committee, and Cantor Fitzgerald desire to
continue their good-faith negotiations regarding the relief
requested in the DIP Motion and the matters raised in the
Objection without the time, expense, and uncertainty attendant to
litigation.  The parties have agreed that:

     -- the Committee is authorized to use the proceeds of the
Financing and/or Cash Collateral, in a total aggregate amount not
to exceed $100,000 from the date of its formation, to (i)
investigate the validity, priority, extent or enforceability of
any amount due under the DIP Documents or the Prepetition Secured
Facility, or the liens and claims granted under the Interim Order,
the DIP Documents or the Prepetition Secured Credit Facility, and
(ii) assert any Claims and Defenses against the DIP Agent, any of
the DIP Lenders, the Prepetition Agent, or any of the Prepetition
Secured Lenders, or any of their respective agents, affiliates,
representatives, attorneys or advisors.

     -- the Committee must commence an adversary proceeding or
contested matter (i) challenging the validity, enforceability,
priority or extent of the Prepetition Secured Facility Debt or the
Prepetition Liens or (ii) otherwise asserting or prosecuting any
Claims and Defenses against the DIP Agent, any of the DIP Lenders,
the Prepetition Agent, or any of the Prepetition Secured Lenders,
or any of their respective agents, affiliates, representatives,
attorneys or advisors on or before June 9, 2014.

     -- If the Committee fails to commence an adversary proceeding
or contested matter challenging the validity, enforceability,
priority or extent of the Prepetition Secured Facility Debt or the
Prepetition Liens or otherwise assert or prosecute any Claims and
Defenses prior to the Challenge Deadline, after the Challenge
Deadline the stipulations and admissions contained in the Interim
Order shall be binding upon all parties in interest, including the
Committee.

     -- There shall be no default under the DIP Credit Agreement
specified in paragraph 19(a) of the Interim Order unless the Final
Order shall not have been entered by April 25, 2014.

     -- Any reply to the Objection by the Debtors, the Prepetition
Agent, or the DIP Agent must be filed with the Bankruptcy Court no
later than April 23, 2014 at 12:00 p.m. (prevailing Eastern Time).

     -- The Final Hearing is scheduled for April 25, 2014 at 10:00
a.m. (prevailing Eastern Time).

                          About Sbarro

Pizza chain Sbarro sought Chapter 11 bankruptcy protection
together with several affiliated entities (Sbarro LLC, Bankr.
S.D.N.Y. Lead Case No. 14-10557) on March 10, 2014, in Manhattan.
Bankruptcy Judge Martin Glenn presides over the Debtors' cases.

The bankruptcy filing came after Sbarro said in February it would
155 of the 400 restaurants it owns in North America.

Bankruptcy Judge Martin Glenn presides over the 2014 case.  Nicole
Greenblatt, Esq., James H.M. Sprayregen, Esq., Edward O. Sassower,
Esq., and David S. Meyer, Esq., at Kirkland & Ellis, LLP,
represent Sbarro.  Mark Hootnick, Brian Bacal, Gregory Doyle, and
Roger Wood at Moelis & Company, serve as Sbarro's investment
bankers.  Loughlin Management serves as the financial advisors.
Prime Clerk LLC serves as claims and noticing agent, and
administrative advisor.

Melville, N.Y.- based Sbarro LLC listed $175.4 million in total
assets and $165.2 million in total liabilities.  The petitions
were signed by Stuart M. Steinberg, authorized individual.

This is Sbarro's second bankruptcy filing in three years.  The
corporate entity was then known as Sbarro Inc., which, together
with several affiliates, filed Chapter 11 petitions (Bankr.
S.D.N.Y. Lead Case No. 11-11527) on April 4, 2011, in Manhattan.
Sbarro Inc. disclosed $51,537,899 in assets and $460,975,646 in
liabilities in the 2011 petition.

Bankruptcy Judge Shelley C. Chapman presided over the 2011 case.
In the 2011 case, Edward Sassower, Esq., and Nicole Greenblatt,
Esq., at Kirkland & Ellis, LLP, served as the Debtors' general
bankruptcy counsel; Rothschild, Inc., as investment banker and
financial advisor; PriceWaterhouseCoopers LLP as bankruptcy
consultants; Marotta Gund Budd & Dzera, LLC, as special financial
advisor; Curtis, Mallet-Prevost, Colt & Mosle LLP as conflicts
counsel; Epiq Bankruptcy Solutions, LLC, as claims agent; and Sard
Verbinnen & Co as communications advisor.

Sbarro Inc. emerged from Chapter 11 protection seven months later,
in November 2011, after Judge Chapman confirmed a Plan of
Reorganization that handed ownership of the company to the pre-
bankruptcy first lien lenders.  Under the terms of the Plan,
Sbarro reduced debt by approximately 73%, or $295 million (from
approximately $405 million to $110 million, plus any amounts
funded under a new money term loan facility), by converting 100%
of the outstanding amount of the $35 million post-petition debtor-
in-possession financing into an equal amount of a newly issued
$110 million senior secured exit term loan facility; and
converting approximately $173 million in prepetition senior
secured debt held by the Company's prepetition first lien lenders
into the remaining exit term loan facility and 100% of the common
equity of the reorganized company (subject to dilution by shares
issued under a management equity plan); and eliminating all other
outstanding debt.

In January 2014, Standard & Poor's Ratings Services lowered
Sbarro's corporate credit rating further into junk category -- to
'CCC-' from 'CCC+' -- with negative outlook; and The Wall Street
Journal reported pizza chain enlisted restructuring lawyers at
Kirkland & Ellis LLP and bankers at Moelis & Co.

On March 5, 2014, the Debtors commenced solicitation of the
Proposed Joint Prepackaged Chapter 11 Plan of Reorganization.  The
Plan received near unanimous support from the Debtors' prepetition
secured lenders, with Holders of approximately 98% of the
outstanding Prepetition Secured Lender Claims in dollar amount
voting to accept the Plan.

On March 26, 2014, the United States Trustee appointed an official
committee of unsecured creditors, consisting of (i) Performance
Food Group, Inc., (ii) PepsiCo Sales, Inc., (iii) GGP Limited
Partnership, (iv) Simon Property Group, Inc., and (v) The Macerich
Company.  The Committee is represented by Jay R. Indyke, Esq.,
Cathy $R. Herschopf, Esq., Seth Van Aalten, Esq., and Alex
Velinsky, Esq., at Cooley LLP.  Mesirow Financing Consulting, LLC
serves as its financial advisors.

Counsel for the Prepetition Agent and DIP Agent is Milbank, Tweed,
Hadley & McCloy LLP's Evan R. Fleck, Esq.


SBARRO LLC: Files Statement of Financial Affairs
------------------------------------------------
Sbarro LLC filed with the Bankruptcy Court its statement of
financial affairs on April 18.  A review of the case docket shows
Sbarro has yet to file its schedules of assets and liabilities.

Sbarro disclosed that it earned:

     $130,547,429.00 from business operations from
                     12/31/12- 12/29/13;

     $138,912,788.00 business operations from
                     01/2/12 - 12/30/12; and

      $20,101,813.44 business operations from
                     12/30/13 - 03/09/14

Sbarro disclosed that within 90 days immediately preceding the
commencement of the bankruptcy case, it made payments to non-
insider creditors in the aggregate amount of $46,103,240.63.
Payments made to insiders within one year immediately preceding
the bankruptcy total $3,062,014.02.

A copy of the Statement of Financial Affairs including a schedule
of payments made to the creditors is available at:

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

                          About Sbarro

Pizza chain Sbarro sought Chapter 11 bankruptcy protection
together with several affiliated entities (Sbarro LLC, Bankr.
S.D.N.Y. Lead Case No. 14-10557) on March 10, 2014, in Manhattan.
Bankruptcy Judge Martin Glenn presides over the Debtors' cases.

The bankruptcy filing came after Sbarro said in February it would
155 of the 400 restaurants it owns in North America.

Bankruptcy Judge Martin Glenn presides over the 2014 case.  Nicole
Greenblatt, Esq., James H.M. Sprayregen, Esq., Edward O. Sassower,
Esq., and David S. Meyer, Esq., at Kirkland & Ellis, LLP,
represent Sbarro.  Mark Hootnick, Brian Bacal, Gregory Doyle, and
Roger Wood at Moelis & Company, serve as Sbarro's investment
bankers.  Loughlin Management serves as the financial advisors.
Prime Clerk LLC serves as claims and noticing agent, and
administrative advisor.

Melville, N.Y.- based Sbarro LLC listed $175.4 million in total
assets and $165.2 million in total liabilities.  The petitions
were signed by Stuart M. Steinberg, authorized individual.

This is Sbarro's second bankruptcy filing in three years.  The
corporate entity was then known as Sbarro Inc., which, together
with several affiliates, filed Chapter 11 petitions (Bankr.
S.D.N.Y. Lead Case No. 11-11527) on April 4, 2011, in Manhattan.
Sbarro Inc. disclosed $51,537,899 in assets and $460,975,646 in
liabilities in the 2011 petition.

Bankruptcy Judge Shelley C. Chapman presided over the 2011 case.
In the 2011 case, Edward Sassower, Esq., and Nicole Greenblatt,
Esq., at Kirkland & Ellis, LLP, served as the Debtors' general
bankruptcy counsel; Rothschild, Inc., as investment banker and
financial advisor; PriceWaterhouseCoopers LLP as bankruptcy
consultants; Marotta Gund Budd & Dzera, LLC, as special financial
advisor; Curtis, Mallet-Prevost, Colt & Mosle LLP as conflicts
counsel; Epiq Bankruptcy Solutions, LLC, as claims agent; and Sard
Verbinnen & Co as communications advisor.

Sbarro Inc. emerged from Chapter 11 protection seven months later,
in November 2011, after Judge Chapman confirmed a Plan of
Reorganization that handed ownership of the company to the pre-
bankruptcy first lien lenders.  Under the terms of the Plan,
Sbarro reduced debt by approximately 73%, or $295 million (from
approximately $405 million to $110 million, plus any amounts
funded under a new money term loan facility), by converting 100%
of the outstanding amount of the $35 million post-petition debtor-
in-possession financing into an equal amount of a newly issued
$110 million senior secured exit term loan facility; and
converting approximately $173 million in prepetition senior
secured debt held by the Company's prepetition first lien lenders
into the remaining exit term loan facility and 100% of the common
equity of the reorganized company (subject to dilution by shares
issued under a management equity plan); and eliminating all other
outstanding debt.

In January 2014, Standard & Poor's Ratings Services lowered
Sbarro's corporate credit rating further into junk category -- to
'CCC-' from 'CCC+' -- with negative outlook; and The Wall Street
Journal reported pizza chain enlisted restructuring lawyers at
Kirkland & Ellis LLP and bankers at Moelis & Co.

On March 5, 2014, the Debtors commenced solicitation of the
Proposed Joint Prepackaged Chapter 11 Plan of Reorganization.  The
Plan received near unanimous support from the Debtors' prepetition
secured lenders, with Holders of approximately 98% of the
outstanding Prepetition Secured Lender Claims in dollar amount
voting to accept the Plan.

On March 26, 2014, the United States Trustee appointed an official
committee of unsecured creditors, consisting of (i) Performance
Food Group, Inc., (ii) PepsiCo Sales, Inc., (iii) GGP Limited
Partnership, (iv) Simon Property Group, Inc., and (v) The Macerich
Company.  The Committee is represented by Jay R. Indyke, Esq.,
Cathy $R. Herschopf, Esq., Seth Van Aalten, Esq., and Alex
Velinsky, Esq., at Cooley LLP.  Mesirow Financing Consulting, LLC
serves as its financial advisors.

Counsel for the Prepetition Agent and DIP Agent is Milbank, Tweed,
Hadley & McCloy LLP's Evan R. Fleck, Esq.


SCICOM DATA: May 20 Hearing on Confirmation of Liquidation Plan
---------------------------------------------------------------
The Bankruptcy Court will convene a hearing on May 20, 2014, at
10:00 a.m., to consider the confirmation of SCICOM Data Services,
Ltd.'s Plan of Liquidation dated April 3.  Objections, if any, are
due seven days prior to the hearing.

The Court approved the Debtor's Disclosure Statement.

Ballots accepting or rejecting the Plan are dues five days prior
to the hearing.

According to the Disclosure Statement, the Plan creates a
Liquidating Fund and assigns a Liquidating Agent to undertake the
continuing post-confirmation sale of all of the Debtor's remaining
assets (including the Office Property), the resolution of claims,
the pursuit of any Avoidance Claims and Causes of Action, the
distribution of proceeds to the holders of Allowed claims, and
such other actions as are necessary to wind down the Debtor's
business.  There are no secured creditors, and Allowed unsecured
claims will be paid from cash on hand, the proceeds of sales and
any net recoveries from Avoidance Actions and other Causes of
Action.

The Debtor proposes the Plan to facilitate the most efficient and
timely liquidation of remaining assets as well as the fastest
distribution of proceeds to creditors.  Furthermore, the Plan
provides a mechanism for interim distributions to holders of
Allowed claims that will allow them to receive distributions soon
as practicable.

The Debtor proposes to treat creditors' claim as:

     1. Administrative Expense Claims ($88,130) will be paid
        in full in cash.

     2. Priority Claims ($4,971) will in full in cash.

     3. The Debtor will pay 50% of the allowed Convenience
        Claims ($32,040) soon as practicable after the Effective
        Date.

     4. General Unsecured Claims ($21,176,638) will receive a
        pro-rata share of the Liquidation Fund (estimated
        distribution of 36.91%).

     5. Equity Interests will be canceled.

Copies of the Disclosure Statement and Plan are available for free
at:

     http://bankrupt.com/misc/SCICOM_157_amendedplan.pdf
     http://bankrupt.com/misc/SCICOM_158_amendedds.pdf

The U.S. Trustee has withdrawn its objection, which was filed on
March 14, 2014, based on the imminent filing of the Debtor's
amended disclosure statement.  The U.S. Trustee submitted that the
Debtor's Amended Disclosure Statement can be approved as
containing adequate information.

In a separate order, the Court authorized the Debtor to amend an
occupancy agreement with Venture Solutions, Inc.

                          About SCICOM

Headquartered in Minnetonka, Minnesota, SCICOM provides data
processing solutions that transform critical data into effective
customer communications, on any platform, at any time.  SCICOM's
business focus has been employee benefits, retirement and
investment services, and statement processing.

SCICOM Data Services, Ltd., filed a Chapter 11 petition (Bankr. D.
Minn. Case No. 13-43894) on Aug. 6, 2013, in Minneapolis,
Minnesota, with a deal to sell assets to Venture Solutions without
an auction.

Arden Hills, MN-based Venture Solutions is a provider of print and
digital transactional Communications and is a subsidiary of Taylor
Corporation.

Judge Michael E. Ridgway presides over the case.  The Debtor has
tapped Fredrikson & Byron, P.A., as counsel; Lighthouse Management
Group, Inc., as financial consultant; and Shenehon Company as
valuation expert.

The Debtor disclosed $13,254,128 in assets and $17,801,787 in
liabilities as of the Chapter 11 filing.  The petition was signed
by Timothy L. Johnson, senior vice president and CFO.

Daniel M. McDermott, the U.S. Trustee for Region 12, appointed
three creditors to serve in the Official Committee of Unsecured
Creditors in the Chapter 11 case of Scicom Data Services, Ltd.


SEANERGY MARITIME: Posts $10.9 Million Net Income in 2013
---------------------------------------------------------
Seanergy Maritime Holdings Corp. filed with the U.S. Securities
and Exchange Commission its annual report on Form 20-F disclosing
net income of $10.90 million on $23.07 million of net vessel
revenue for the year ended Dec. 31, 2013, as compared with a net
loss of $193.76 million on $55.61 million of net vessel revenue
for the year ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $66.35 million in total
assets, $157.04 million in total liabilities and a $90.69 million
total shareholders' deficit.

Ernst & Young (Hellas) Certified Auditors Accountants S.A., in
Athens, Greece, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31,
2013.  The independent auditors noted that the Company, as of
December 31, 2013 continued to be in breach of certain terms and
covenants of the loan facility with its remaining lender, and had
a working capital deficit and an accumulated deficit.  Following
the disposal of its entire fleet subsequent to December 31, 2013
in the context of its restructuring plan, the Company is unable to
generate sufficient cash flow to meet its obligations and sustain
its continuing operations.  These conditions 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/Ulq2Ld

                           About Seanergy

Athens, Greece-based Seanergy Maritime Holdings Corp. is an
international company providing worldwide seaborne transportation
of dry bulk commodities.  The Company owns and operates a fleet
of seven dry bulk vessels that consists of three Handysize, two
Supramax and two Panamax vessels.  Its fleet carries a variety of
dry bulk commodities, including coal, iron ore, and grains, as
well as bauxite, phosphate, fertilizer and steel products.


SEVERSTAL COLUMBUS: S&P Affirms Then Withdraws 'B' CCR
------------------------------------------------------
Standard & Poor's Ratings Services said that it had affirmed its
'B' long-term corporate credit rating on U.S.-based steelmaker
Severstal Columbus LLC, which is 100% owned by Russian steelmaker
OAO Severstal, then subsequently withdrew its rating at the
issuer's request.  At the time of the withdrawal, the outlook was
stable.

At the same time, S&P withdrew its 'B' issue credit rating and '3'
recovery rating on Severstal Columbus' $525 million senior secured
notes, following their redemption.

The affirmation reflected S&P's expectation that Severstal
Columbus' performance would stay broadly stable over the next two
years, with neutral to positive free operating cash flow
generation, supported by higher production volumes and fairly low
capital expenditure, following the completion of a mini-mill
project.  The company has quite a favorable maturity profile with
low external debt maturities in 2014-2015.  S&P assessed Severstal
Columbus' liquidity as "adequate," as our criteria define the
term.


SIMPLEXITY LLC: Clearpath Balks at DIP Lien
-------------------------------------------
Clearpath Solutions Group, LLC and Clearpath Hosting, LLC,
objected to Simplexity LLC, et al.'s motion to (a) obtain
postpetition secured financing from Adeptio Funding, LLC; and (b)
utilize cash collateral.

Clearpath objected to the granting of any postpetition lien on
property which may be in the Debtor's possession but to which
Clearpath still holds title.  Because the Debtors do not own the
Clearpath Property, they have no right to grant a security
interest in the Clearpath Property.

Chad J. Toms, Esq., at Whiteford Taylor & Preston LLC, represented
Clearpath.

As reported in the Troubled Company Reporter on April 9, 2014,
the Official Committee of Unsecured Creditors asserted that the
proposed DIP financing facility should be disapproved in its
entirety.

"It is unnecessary, confers no material benefit on the Debtors'
bankruptcy estates, and functions solely to protect Fifth Third
Bank -- the lender who precipitously ended the Debtors' operations
and single-handedly eliminated the vast majority of the Debtors'
going concern value by sweeping the funds earmarked to pay the
Debtors' payroll on the eve of the chapter 11 filings," the
Committee said.

The Committee also pointed out that since the Debtors' operations
ended, the Debtors should be able to live on cash collateral
pending the consummation of the sale of their remaining assets.

Counsel to the Committee added that the proposed DIP financing
also contains a list of offensive provisions, including:

  -- a waiver of surcharge rights under Sec. 506(c) of the
     Bankruptcy Code; and

  -- Fifth Third Bank's demand for liens and superpriority
     administrative claims on avoidance actions and their
     proceeds.

The TCR reported on March 25, 2014, that Judge Kevin Gross gave
interim authority for the Debtor to obtain postpetition financing
from Adeptio Funding, provided that the maximum principal amount
of the financing may not exceed $1,000,000, or with the prior
written consent of the Lender and the Debtors, $1,100,000.   The
DIP Loan will accrue at 10% of the outstanding principal amount
per annum, calculated as 0.2777% per day.

                   About Simplexity

Simplexity, LLC, sought protection under Chapter 11 of the
Bankruptcy Code on March 16, 2014 (Case No. 14-10569, Bankr.
D.Del.).  The case is before Judge Kevin Gross.  The Debtors'
counsel is Kenneth J. Enos, Esq., and Robert S. Brady, Esq., at
Young, Conaway, Stargatt & Taylor, LLP, in Wilmington, Delaware.
Prime Clerk LLC serves as claims and noticing agent.

Simplexity LLC and Simplexity Services LLC both estimated
$10 million to $50 million in assets, and $50 million to $100
million in liabilities.

The U.S. Trustee for Region 3 appointed five members to an
official committee of unsecured creditors.


SOLAR POWER: Appoints Lang Zhou as Director
-------------------------------------------
The board of directors of Solar Power, Inc., appointed Lang Zhou
as director effective April 17, 2014.  The Company did not enter
into a contract or arrangement with Mr. Zhou in connection with
the appointment.

                          About Solar Power

Roseville, Cal.-based Solar Power, Inc., is a global solar
energy facility ("SEF") developer offering its own brand of high-
quality, low-cost distributed generation and utility-scale SEF
development services.  Primarily, the Company works directly with
and for developers around the world who hold large portfolios of
SEF projects for whom it serves as an engineering, procurement and
construction contractor.  The Company also performs as an
independent, turnkey SEF developer for one-off distributed
generation and utility-scale SEFs.

Solar Power disclosed a net loss of $25.42 million in 2012, as
compared with net income of $1.60 million in 2011.  The Company's
balance sheet at Sept. 30, 2013, showed $132.92 million in total
assets, $119.71 million in total liabilities and $13.20 million in
total stockholders' equity.

Crowe Horwath LLP, in San Francisco, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Company has incurred a current year net loss of $25.4
million, has an accumulated deficit of $23.8 million, has
experienced a significant reduction in working capital, has past
due related party accounts payable and material adverse change and
default clauses in certain debt facilities under which the banks
can declare amounts immediately due and payable.  Additionally,
the Company's parent company LDK Solar Co., Ltd, has experienced
financial difficulties, which among other items, has caused delays
in project financing.  These matters raise substantial doubt about
the Company's ability to continue as a going concern.


SOUTH GOBI: Failure to Get Funding May Lead to Debenture Default
----------------------------------------------------------------
SouthGobi Resources Ltd. on April 21 disclosed that coal
production in the second quarter of 2014 will be paced to meet
contracted sales volumes.

The Company anticipates that coal prices in China will remain
under pressure in 2014, which will continue to impact the
Company's margins and liquidity.  Based on its forecasts for the
year ended December 31, 2014, the Company is unlikely to have
sufficient capital resources and does not expect to generate
sufficient cash flows from mining operations in order to satisfy
its ongoing obligations and future contractual commitments,
including cash interest payments due on the China Investment
Corporation convertible debenture.  Therefore, the Company is
actively seeking additional sources of financing to continue
operating and meet its objectives.  The next cash interest payment
on the CIC convertible is $7.9 million and is due on May 19, 2014.

While the Company is actively seeking additional sources of
financing to continue operating and meet its objectives, there can
be no assurance that such financing will be available on terms
acceptable to the Company.  If for any reason, the Company is
unable to secure the additional sources of financing and continue
as a going concern, then this could result in adjustments to the
amounts and classifications of assets and liabilities in the
Company's consolidated financial statements and such adjustments
could be material.

While the Company intends to secure additional sources of
financing as soon as possible, a continued delay in securing
additional financing could ultimately result in an event of
default of the $250.0 million CIC convertible debenture, which if
not cured within applicable cure periods in accordance with the
terms of such debenture, may result in the principal amount owing
and all accrued and unpaid interest becoming immediately due and
payable upon notice to the Company by CIC.

The disclosure was made in South Gobi's earnings release for the
three months ended March 31, 2014, a copy of which is available
for free at http://is.gd/HgvmSC

                          About SouthGobi

SouthGobi is listed on the Toronto and Hong Kong stock exchanges,
in which Turquoise Hill Resources Ltd. ("Turquoise Hill"), also
publicly listed in Toronto and New York, has a 56% shareholding.
Turquoise Hill took management control of SouthGobi in September
2012 and made changes to the board and senior management. Rio
Tinto has a majority shareholding in Turquoise Hill.

SouthGobi is focused on exploration and development of its
metallurgical and thermal coal deposits in Mongolia's South Gobi
Region.  It has a 100% shareholding in SouthGobi Sands LLC, the
Mongolian registered company that holds the mining and exploration
licenses in Mongolia and operates the flagship Ovoot Tolgoi coal
mine.  Ovoot Tolgoi produces and sells coal to customers in China.


STAR DYNAMICS: Mulls Sale; Wins Exclusivity Extension
-----------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Ohio,
Eastern Division, extended Star Dynamics Corporation's exclusive
period to file a chapter 11 plan by an additional 90 days through
and including July 8, 2014, and its exclusive period to solicit
acceptance thereof was also extended by an additional 90 days
through and including Sept. 8, 2014, without prejudice to the
Debtor's rights to seek further extensions upon motion and notice.

In seeking an extension of the exclusive periods, the Debtor
stated that it determined that its best course of action would be
to put itself up for sale. Consequently, in October 2013, the
Debtor engaged Sagent Advisors, LLC to assist in obtaining a
transaction for a sale of all or substantially all, of the
Debtor's assets. Sagent is an independent investment banking firm
headquartered in New York, NY, that provides merger and
acquisition and other financial advice for its clients.

The Debtor states that there is cause to extend the exclusivity
period. The Debtor asserts that since the Petition Date, the
Debtor has been diligently working with Sagent to market a sale of
the Debtor's assets to potential buyers. To date, interested
parties have submitted written indications of interest to Sagent,
and Sagent has conducted an analysis to identify qualified
prospective purchasers.

Currently, the parties identified by Sagent as qualified
purchasers are in the process of conducting their respective due
diligence. Once the due diligence process is complete, the Debtor
states that it anticipates that the final, binding proposals for
the purchase of the Debtor's assets will be submitted. Following
the finalization of the sale process, the Debtor states that it
believes that a liquidating plan of reorganization may be
necessary. However, the Debtor asserts that it will not be in a
position to propose any such plan of reorganization until the sale
process has concluded, and a sale has been approved by this Court.
Thus, the Debtor states that it believes it would be most prudent
to extend the Exclusive Periods by 90 days.

                        About STAR Dynamics

STAR Dynamics Corp. develops, sales, and services instrumentation
radar systems for missile test ranges utilized by the United
States and foreign governments.  Located principally in Hilliard,
Ohio, with satellite offices in Herndon, Virginia and Sandestin
Florida, it has 112 full-time employees.

STAR Dynamics filed a petition for Chapter 11 protection (Bankr.
S.D. Ohio Case No. 13-59657) on Dec. 10, 2013, in Columbus, Ohio,
in part to halt a lawsuit by BAE Systems Plc.

According to its first-day motions and as of Nov. 30, 2013, it has
assets of $28,470,788.13, liabilities of $50,892,360.12 and gross
sales of $8,140,140.93.  In its schedules, the Debtor listed
$12,138,334 in total assets and $50,740,343 in total liabilities.

BAE is an American subsidiary of a global-level defense contractor
based in Great Britain, with more than 50,000 employees world-
wide.  BAE has its headquarters in Arlington, Virginia, and like
the Debtor, is engaged in the radar range business for the testing
of missiles and other weaponry.

Bankruptcy Judge Charles M. Caldwell oversees the case.  Thomas R.
Allen, Esq., Richard K. Stovall, Esq., and Erin L. Pfefferle,
Esq., at Allen Kuehnle Stovall & Neuman LLP serve as the Debtor's
bankruptcy counsel.  Michael J. Sullivan, Esq., Russell A.
Williams, Esq., Julie E. Adkins, Esq., Louis T. Isaf, Esq., and
Nanda K. Alapati, Esq., at Womble Carlyle Sandridge & Rice LLP,
serve as special counsel with respect to litigation involving BAE
Systems and with respect to the completion of prepetition patent
work.  Sagent Advisors LLC serves as financial advisor.


STAR DYNAMICS: Seeks More Time to Decide on Leases
--------------------------------------------------
STAR Dynamics Corporation filed on April 3, 2014, a motion
requesting an extension of time to assume or reject leases on non-
residential real property. The Debtor asks the court for an
extension of 90 days through and until July 8, 2014. The Debtor's
120-day period in which to assume or reject leases was slated to
expire on April 9, absent an extension.

The extension of time will cover the following leases of non-
residential real property:

     (i) 13873 Park Center Road, Herndon, Virginia 20171, with
         Brit-Hallmark LLC, as Lessor, and

    (ii) hanger storage space and airstrip located at Darby Dan
         Airport, 7535 W. Broad Street, Galloway, Ohio 43119,
         with the Galloway Airport Authority, LLC, as Lessor.

The Debtor asserts that there is cause for an extension. The
Debtor states that the continued use of the Herndon Location, and
Darby Dan Location is critical to the Debtor's ability to continue
to operate as a going concern, with the ultimate goal of a sale of
all or substantially all of its assets pursuant to Section 363 of
the Bankruptcy Code.  Further, the Debtor states that the Lessors
may have reversionary interests to the improvements built on their
respective premises, which would represent a windfall to the
Lessors, if their respective leases were rejected at this stage in
the case.  The Debtor further states that it is in need of
additional time to appraise its financial situation in order to
make an informed decision concerning assumption or rejection of
the Leases, and that it continues to explore all of its options in
light of an intended sale of its assets pursuant to Section 363 of
the Bankruptcy Code.

                        About STAR Dynamics

STAR Dynamics Corp. develops, sales, and services instrumentation
radar systems for missile test ranges utilized by the United
States and foreign governments.  Located principally in Hilliard,
Ohio, with satellite offices in Herndon, Virginia and Sandestin
Florida, it has 112 full-time employees.

STAR Dynamics filed a petition for Chapter 11 protection (Bankr.
S.D. Ohio Case No. 13-59657) on Dec. 10, 2013, in Columbus, Ohio,
in part to halt a lawsuit by BAE Systems Plc.

According to its first-day motions and as of Nov. 30, 2013, it has
assets of $28,470,788.13, liabilities of $50,892,360.12 and gross
sales of $8,140,140.93.  In its schedules, the Debtor listed
$12,138,334 in total assets and $50,740,343 in total liabilities.

BAE is an American subsidiary of a global-level defense contractor
based in Great Britain, with more than 50,000 employees world-
wide.  BAE has its headquarters in Arlington, Virginia, and like
the Debtor, is engaged in the radar range business for the testing
of missiles and other weaponry.

Bankruptcy Judge Charles M. Caldwell oversees the case.  Thomas R.
Allen, Esq., Richard K. Stovall, Esq., and Erin L. Pfefferle,
Esq., at Allen Kuehnle Stovall & Neuman LLP serve as the Debtor's
bankruptcy counsel.  Michael J. Sullivan, Esq., Russell A.
Williams, Esq., Julie E. Adkins, Esq., Louis T. Isaf, Esq., and
Nanda K. Alapati, Esq., at Womble Carlyle Sandridge & Rice LLP,
serve as special counsel with respect to litigation involving BAE
Systems and with respect to the completion of prepetition patent
work.  Sagent Advisors LLC serves as financial advisor.


STOCKTON PUBLIC: S&P Revises Outlook to Stable & Affirms 'B' SPUR
-----------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to stable
from negative and affirmed its 'B' underlying rating (SPUR) on the
Stockton Public Financing Authority, Calif.'s series 2006A revenue
bonds, issued on behalf of the successor to the Stockton
Redevelopment Agency.

"The outlook revision reflects our view of a break in a trend of
assessed valuation (AV) declines in the three redevelopment
project areas that support the three loans that the agency uses to
repay the bonds," said Standard & Poor's credit analyst Chris
Morgan.

"The outlook revision also reflects our view of the agency's
continued observance of series 2006A bond provisions after changes
in state law that, among other effects, pooled tax increment
revenue by agency," Mr. Morgan added.

The rating reflects S&P's view of the agency's several pledge of
revenue from three project areas, concentrated tax bases and
likely inadequate coverage of maximum annual debt service (MADS)
in fiscal 2014, and high volatility (base-year to total AV) ratios
in the project areas supporting the bonds, indicating the
potential for fluctuations in AV to leverage proportionally much
larger effects on pledged revenue.


SUNRISE REAL ESTATE: Director Zhang Xi Resigns
----------------------------------------------
Mr. Zhang Xi had resigned as an independent director of Sunrise
Real Estate Group, Inc., effective April 14, 2014, for personal
reasons.  The Board accepted his resignation on April 14, 2014.

                    About Sunrise Real Estate

Headquartered in Shanghai, the People's Republic of China, Sunrise
Real Estate Group, Inc. was initially incorporated in Texas on
Oct. 10, 1996, under the name of Parallax Entertainment, Inc.
On Dec. 12, 2003, Parallax changed its name to Sunrise Real
Estate Development Group, Inc.  On April 25, 2006, Sunrise Estate
Development Group, Inc., filed Articles of Amendment with the
Texas Secretary of State, changing the name of Sunrise Real Estate
Development Group, Inc. to Sunrise Real Estate Group, Inc.,
effective from May 23, 2006.

The Company and its subsidiaries are engaged in the property
brokerage services, real estate marketing services, property
leasing services and property management services in China.

Sunrise Real Estate incurred a net loss of US$3.47 million on
US$8.52 million of net revenues for the year ended Dec. 31, 2012,
as compared with a net loss of US$1.15 million on US$8.97 million
of net revenues for the year ended Dec. 31, 2011.

The Company's balance sheet at Sept. 30, 2013, showed $60.33
million in total assets, $55.82 million in total liabilities and
$4.50 million in total shareholders' equity.

Finesse CPA, P.C., in Chicago, Illinois, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that
the Company has a working capital deficiency, accumulated deficit
from recurring net losses for the current and prior years, and
significant short-term debt obligations currently in default or
maturing in less than one year.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


SWJ MANAGEMENT: Chapter 11 Cases Going to Connecticut
-----------------------------------------------------
Richard M. Coan, Chapter 7 Trustee of FirstConnecticut Consulting
Group, Inc., succeeded moving the venue of the Chapter 11 cases of
SWJ Holdings LLC and SWJ Management LLC.

The cases, originally filed in the U.S. Bankruptcy Court for the
District of Delaware, have been transferred to the U.S. Bankruptcy
Court for the District of Connecticut.

The FirstConnecticut Trustee states that on March 3, 2014 -- in
its efforts to have a bankruptcy judge acknowledge their ownership
rights, having already failed in New York, New Jersey, and
Connecticut -- SWJ Management filed for bankruptcy in Delaware.

The FirstConnecticut Trustee states that SWJ Holdings was created
for the express purpose of buying assets from the Trustee's prior
bankruptcy estates (there are a couple previous bankruptcy cases
realated to this case). However, Holdings never paid for the
assets and the Connecticut Bankruptcy Court entered an order of
foreclosure. The Trustee says that it foreclosed on the assets in
2008. However, The Trustee claims that Holdings sold the assets in
2013 to Management and that Holdings filed with the Delaware
Bankruptcy Court to prevent the Connecticut Court from ruling on
the case any further.

The Trustee argues that both Debtors are engaging in blatant forum
shopping.  The Trustee claims that the dispute over the assets
does not need another judge in another state and that the dispute
needs to be centralized with one or two judges, the judges with
first-hand experience of the assets, the parties and the claims.

The Trustee also claims that the Management and Holdings
bankruptcy assets are inextricably intertwined with the
Connecticut Bankruptcy Cases. Moreover, the Trustee explains that
a Connecticut venue is more appropriate under forum non
convenience.  Trustee claims that management has in the past
expressed preference for proceedings in New York, or New Jersey,
or most recently in Connecticut. In addition, the Trustees states
that Management and Holdings petitions indicate that their
principal place of business is outside of Delaware.

                 Motion to Voluntarily Dismiss Case

On March 12, 2014, SWJ Holdings filed a motion to voluntarily
dismiss the Debtors' bankruptcy cases.  The Debtor states that it
would like to have the case dismissed because other members of the
Debtor have filed a substantial opposition. Therefore, the Debtor
states that a more suitable venue would be the Delaware Chancery
Court rather than the Bankruptcy Court for the District of
Delaware.

SWJ is a Delaware limited liability corporation and was originally
formed on April 27, 2006. SWJ defaulted on its obligations
pursuant to an agreement. On February 2013, the principal owner of
SWJ sold and assigned all SWJ's assets to Richard Annunziata and
his recently formed entity, SWJ Management, LLC. The terms of the
sale were payment of $25,000 to Steven Podell, as well as
assumption of all liabilities of SWJ and an agreement to indemnify
SWJ for any existing liabilities. Mr. Annunziata offered the same
terms to the other members of SWJ, but he was rebuffed.

The Debtor states that the other members of SWJ have absolutely no
basis to oppose Mr. Annunziata's efforts to act in the best
interests of the corporate entity.  The Debtor states that Mr.
Annunziata is the only member willing to exercise his fiduciary
responsibility to SWJ, while the other members seem content to
allow a $5 million default judgment to be entered against it, and
have utterly failed and/or refused to pursue a malpractice claim
against their former bankruptcy counsel, Proskauer Rose, which the
Debtor believes is potentially valued in excess of $10 million.

                    Motion to Dismiss or Convert

Meanwhile, Roberta A. DeAngelis, the U.S. Trustee for Region 3,
asked the Court to dismiss the Chapter 11 cases or, alternatively,
to convert the cases to Chapter 7 under Section 1112(b) of the
Bankruptcy Code.  The Trustee states that cause for dismissal has
been established because although the Debtors' cases have been
pending for nearly a month, the only documents they have filed are
bare, incomplete petitions, and unverified creditor matrices. The
Debtors have failed to meet numerous filing and other obligations
under the Bankruptcy Code, the Bankruptcy Rules, the Local Rules
of this Court, and the Guidelines of the U.S. Trustee.

               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.  Delaware Bankruptcy Judge
Christopher S. Sontchi was 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,
according to the case docket.

The petitions were signed by Richard Annunziata as managing
member.


TELEXFREE LLC: Says Former CFO Didn't Abscond
---------------------------------------------
TelexFREE LLC issued a statement to respond to "inaccurate press
reports and speculation" regarding the company's former consulting
CFO.

According to TelexFree, Joe Craft, TelexFREE's former consulting
CFO, has been wrongfully accused of attempting to unlawfully
remove funds or property from a TelexFREE location.  The reports
that Mr. Craft attempted to abscond with a laptop and cashier's
checks are false.

The cashier's checks were in Mr. Craft's possession because the
Company's bank accounts had been closed, which necessitated the
Company obtaining the funds in the form of cashier's checks.  Upon
the filing of the Chapter 11 cases, the Company determined to
marshal all of the Company's funds for the benefit of the Chapter
11 bankruptcy estate.  Mr. Craft had taken possession of the
cashier's checks at the request of the Company's counsel and
advisors in order to assure that the estate funds were protected.
Mr. Craft was holding the checks until they could be deposited in
either a newly-established Company safe deposit box or an escrow
account that the Company was in the process of establishing.  The
laptop was Mr. Craft's personal property.

Acting as Interim CFO for TelexFREE, Mr. Craft explained both the
motive and the purpose of the transfer of funds to government
officials onsite at the time the warrants were served.  Counsel
for the Company also informed the Securities and Exchange
Commission of these facts on April 18.  It is unfortunate that the
filings and media reports ignore these facts.

Hundreds of thousands of customers and independent sales
associates rely upon our products and services.  Many of those
customers and sales associates have reached out to the Company to
express their support for TelexFREE and their hope that the
Company will be able to continue to operate.  The goal of the
Chapter 11 case is, in part, to restructure the Company's business
model and emerge from Chapter 11 for the benefit of those parties.

Alvarez & Marsal North America, LLC is serving as restructuring
advisor to the Company and Greenberg Traurig, LLP and Gordon
Silver are serving as legal advisors to TelexFREE.

                         About TelexFREE

TelexFREE -- http://www.TelexFREE.com-- is a telecommunications
business that uses multi-level marketing to assist in the
distribution of voice over internet protocol telephone services.
TelexFree's retail VoIP product, 99TelexFree, allows for unlimited
international calling to seventy countries for a flat monthly rate
of $49.90.  TelexFREE has over 700,000 associates or promoters
worldwide.

The company believes the sales of the 99TelexFree product, the
TelexFree "app," and other new products will ultimately prove
successful and profitable.  The company is struggling, however,
with several factors that required it to seek chapter 11
protection.  First, the Company experienced exponential growth in
revenue between 2012 and 2013 (from de minimus amounts to over $1
billion), which put tremendous pressure on the Company's
financial, operational and management systems.  Second, although
the company revised its original compensation plan to promoters in
order to address certain questions that were raised regarding such
plan, the company believes that the plans need to be further
revised.  Finally, the trailing liabilities arising from the
original compensation plan are difficult to quantify and have
resulted in substantial asserted liabilities against the company,
a number of which may not be valid.

TelexFREE LLC and two affiliates sought bankruptcy protection
(Bankr. D. Nev. Lead Case No. 14-12525) on April 13, 2014.

Alvarez & Marsal North America, LLC is serving as restructuring
advisor and Greenberg Traurig, LLP and Gordon Silver are serving
as legal advisors to TelexFREE.

TelexFree, LLC, estimated $50 million to $100 million in assets
and $100 million to $500 million in liabilities.

The Debtors have been notified that they must file their schedules
of assets and liabilities and statements of financial affairs by
April 27, 2014.


TELEXFREE LLC: Confident with Long-Term Business Prospects
----------------------------------------------------------
TelexFREE LLC in a statement said that its Chapter 11 filing is
intended to protect TelexFREE assets, quantify legitimate claims,
restructure our operations, and establish a firm foundation for
the future.

"The Chapter 11 filing further demonstrates our belief in the
strength of our core business and products and the enthusiasm and
dedication of our independent sales associates as well as our
determination to protect the assets of the Company and maximize
the recoveries for all constituents," the statement said.

"We remain confident in the Company's long-term business prospects
and the value of the services we provide to customers.
Unfortunately, the precipitous and unnecessary actions taken by
the state and federal agencies have temporarily suspended the VoIP
services TelexFREE customers rely on.  The Company disputes the
material allegations made by these agencies and regrets that their
actions impede our ability to continue to serve our customers,
restructure our operations, and thereby emerge as a stronger and
more competitive company.

"TelexFREE believes the Chapter 11 process is the most effective
vehicle available to address the concerns of all constituencies,
including the purported concerns of the state and federal
agencies.  We intend to address the pending legal proceedings
against it through the Court process.

"We remain confident that the value of our products, the benefits
we provide our customers, and the outstanding entrepreneurial
opportunities we provide our independent sales associates
ultimately will be recognized and misunderstandings about our
business model will be resolved."

Alvarez & Marsal North America, LLC is serving as restructuring
advisor to the Company and Greenberg Traurig, LLP and Gordon
Silver are serving as legal advisors to TelexFREE.


                         About TelexFREE

TelexFREE -- http://www.TelexFREE.com-- is a telecommunications
business that uses multi-level marketing to assist in the
distribution of voice over internet protocol telephone services.
TelexFree's retail VoIP product, 99TelexFree, allows for unlimited
international calling to seventy countries for a flat monthly rate
of $49.90.  TelexFREE has over 700,000 associates or promoters
worldwide.

The company believes the sales of the 99TelexFree product, the
TelexFree "app," and other new products will ultimately prove
successful and profitable.  The company is struggling, however,
with several factors that required it to seek chapter 11
protection.  First, the Company experienced exponential growth in
revenue between 2012 and 2013 (from de minimus amounts to over $1
billion), which put tremendous pressure on the Company's
financial, operational and management systems.  Second, although
the company revised its original compensation plan to promoters in
order to address certain questions that were raised regarding such
plan, the company believes that the plans need to be further
revised.  Finally, the trailing liabilities arising from the
original compensation plan are difficult to quantify and have
resulted in substantial asserted liabilities against the company,
a number of which may not be valid.

TelexFREE LLC and two affiliates sought bankruptcy protection
(Bankr. D. Nev. Lead Case No. 14-12525) on April 13, 2014.

Alvarez & Marsal North America, LLC is serving as restructuring
advisor and Greenberg Traurig, LLP and Gordon Silver are serving
as legal advisors to TelexFREE.

TelexFree, LLC, estimated $50 million to $100 million in assets
and $100 million to $500 million in liabilities.

The Debtors have been notified that they must file their schedules
of assets and liabilities and statements of financial affairs by
April 27, 2014.


UTSTARCOM HOLDINGS: Incurs $22.7 Million Net Loss in 2013
---------------------------------------------------------
UTStarcom Holdings Corp. filed with the U.S. Securities and
Exchange Commission its annual report on Form 20-F disclosing a
net loss of $22.73 million on $164.43 million of net sales for the
year ended Dec. 31, 2013, as compared with a net loss of $35.57
million on $186.72 million of net sales for the year ended
Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $366.96 million in total
assets, $216.58 million in total liabilities and $150.38 million
in total equity.

"We have a history of operating losses and may not have sufficient
liquidity to execute our business plan or to continue our
operations without obtaining additional funding or selling
additional securities.  We may not be able to obtain additional
funding under commercially reasonable terms or issue additional
securities," the Company said in the Annual Report.

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

                       http://is.gd/iPviye

                       About UTStarcom, Inc.

UTStarcom, Inc. (Nasdaq: UTSI) -- http://www.utstar.com/-- is a
global leader in IP-based, end-to-end networking solutions and
international service and support.  The Company sells its
solutions to operators in both emerging and established
telecommunications markets around the world.  UTStarcom enables
its customers to rapidly deploy revenue-generating access services
using their existing infrastructure, while providing a migration
path to cost-efficient, end-to-end IP networks.  The Company's
headquarters are currently in Alameda, California, with its
research and design operations primarily in China.


VERMILLION INC: To Declassify Board of Directors
------------------------------------------------
The board of directors of Vermillion, Inc., adopted amendments to
the Company's Fourth Amended and Restated Certificate of
Incorporation and Fourth Amended and Restated Bylaws that, subject
to the adoption by the Company's stockholders at the Company's
2014 annual meeting of stockholders and the filing of the
amendment to the Company Charter with the Secretary of State of
the State of Delaware, would commence the process of declassifying
the Board beginning at the 2014 Annual Meeting.

In connection with the adoption of the amendments to the Company
Charter and the Company Bylaws, the current Class I director,
Peter S. Roddy, (whose term would otherwise expire at the
Company's annual meeting of stockholders to be held in 2016,
absent stockholder adoption of the Amendments and the filing of
the amendment to the Company Charter with the Secretary of State
of the State of Delaware) delivered a conditional resignation to
the Board on April 17, 2014.  Pursuant to that conditional
resignation, subject to and conditioned upon:

   (i) the adoption by the Company's stockholders at the 2014
       Annual Meeting of the Amendments; and

  (ii) the filing of the amendment to the Company Charter with the
       Secretary of State of the State of Delaware, the current
       Class I director of the Board, Peter S. Roddy, resigned
       from the Board effective immediately prior to the 2015
       annual meeting of stockholders of the Company.

The purpose of this resignation is to expedite the transition to a
declassified Board.

                         About Vermillion

Vermillion, Inc., is dedicated to the discovery, development and
commercialization of novel high-value diagnostic tests that help
physicians diagnose, treat and improve outcomes for patients.
Vermillion, along with its prestigious scientific collaborators,
has diagnostic programs in oncology, hematology, cardiology and
women's health.

The Company filed for Chapter 11 on March 30, 2009 (Bankr. D. Del.
Case No. 09-11091).  Vermillion's legal advisor in connection with
its successful reorganization efforts wass Paul, Hastings,
Janofsky & Walker LLP.  Vermillion emerged from bankruptcy in
January 2010.  The Plan called for the Company to pay all claims
in full and equity holders to retain control of the Company.

Vermillion incurred a net loss of $8.81 million in 2013, as
compared with a net loss of $7.14 million in 2012.  As of Dec. 31,
2013, the Company had $30.64 million in total assets, $3.87
million in total liabilities and $26.76 million in total
stockholders' equity.

BDO USA, LLP, in Austin, Texas, did not issue a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors previously
expressed substantial doubt about the Company's ability to
continue as a going concern in their report on the Company's
consolidated financial statements for the the year ended Dec. 31,
2012, citing recurring losses and negative cash flows from
operations and an accumulated deficit.


WALTER ENERGY: Bank Debt Trades at 4% Off
-----------------------------------------
Participations in a syndicated loan under which Walter Energy Inc.
is a borrower traded in the secondary market at 96.63 cents-on-
the-dollar during the week ended Friday, April 18, 2014, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 0.39
percentage points from the previous week, The Journal relates.
Walter Energy Inc. pays 575 basis points above LIBOR to borrow
under the facility.  The bank loan matures on March 14, 2018 and
carries Moody's B3 rating and Standard & Poor's B rating.  The
loan is one of the biggest gainers and losers among 205 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.

Walter Energy, Inc. is primarily a metallurgical coal producer
with additional operations in metallurgical coke, steam and
industrial coal, and natural gas. Headquartered in Birmingham,
Alabama, the company generated $2 billion in revenue for the 12
months ended June 30, 2013.


* Gavin/Solmonese Bags Two Major Industry Awards for Oreck Sale
---------------------------------------------------------------
Gavin/Solmonese LLC was recently honored with two significant
awards from M&A Advisor, the leading organization recognizing
excellence and honoring achievement by deal-making professionals.

For its role in the sale of Oreck Corporation to Royal Appliance
Manufacturing Co., G/S was included among the firms receiving the
Retail Manufacturing/Distribution Deal of the Year Award.  G/S is
Financial Advisor to the Official Committee of Unsecured Creditors
in this case.  Other professionals honored for their work in this
deal included Lowenstein Sandler LLP, Kelley Drye & Warren LLP,
Black Diamond Commercial Finance, Bradley Arant Boult Cummings
LLP, Cahill Gordon & Reindel, Carl Marks & Co., Gleacher Products
Corp., Oreck Corp., Royal Appliance Mfg. Co., Sawaya Segalas & Co.
and Winston & Strawn LLP.

G/S was also recognized by M&A Advisor for its role advising the
Official Committee of Equity Security Holders in the Chapter 11
sale of AgFeed Industries, Inc.  In this engagement, the firm
worked with professionals from Elliott Greenleaf, Sugar Felsenthal
Grais & Hammer LLP, Mackinac Partners LLC, Young Conaway Stargatt
& Taylor, LLP, Business Development Asia LLC, Foley & Lardner LLP,
and Farm Credit Services of America.

"In the Oreck sale, the Committee's professionals were
instrumental in opening the sale process to include the eventual
successful bidder, and in facilitating a robust auction," said
Wayne P. Weitz, Managing Director at Gavin/Solmonese who led the
G/S team in both engagements.  "In AgFeed, we served as financial
advisor to the Official Equityholders Committee, helping to
maximize recovery for that group's constituents through the
auction process."

According to Ted Gavin, Managing Director and Founding Partner of
Gavin/Solmonese, "The M&A Advisor Awards are highly regarded
throughout the restructuring profession, and we are honored to
have been recognized among our fellow professional advisors for
our achievements in the sale and restructuring transactions
involving distressed companies.  Both of these transactions,
especially Oreck, reflect the degree with which we strive to
seamlessly integrate with other firms to create a better outcome
for stakeholders."

                      About Gavin/Solmonese

Whether it's protecting a company or its creditors from failure,
deploying new leadership, or reversing antiquated thinking,
Gavin/Solmonese -- http://www.gavinsolmonese.com-- leads
companies to measurable bottom line improvement.  Named one of the
country's Outstanding Turnaround Firms by Turnarounds & Workouts,
the Gavin/Solmonese Corporate Restructuring Group (formerly NHB
Advisors) provides leadership for underperforming and troubled
companies and their stakeholders, helping businesses maximize
value for owners, investors, creditors and employees.  The
Gavin/Solmonese Corporate Engagement & Public Affairs Group leads
organizations through critical strategic thinking and tactical
planning, creating better connections with consumers, decision
makers and the media, resulting in market share growth and higher
profitability.


* HYPERAMS LLC Moves to New Location
------------------------------------
HYPERAMS, LLC has moved!  Please update your contact information
so you can find us.

1501 N Michael Drive
Wood Dale, IL 60191

All other contact information including phone numbers, email
addresses and fax numbers will remain the same.

Thomas Pabst, President
E-mail: tpabst@hyperams.com
Telephone: (847) 499-7049

Gene Arenson, Senior Vice President
E-mail: garenson@hyperams.com
Telephone: (847) 499-7050

Jonathan Deptula, Director of Appraisal Services
E-mail: jdeptula@hyperams.com
Telephone: (847) 499-7028

Daniel Dickey, Director of Retail Service
E-mail: ddickey@hyperams.com
Telephone: (905) 601-5506

Kat Parker, Director of Auction Services
E-mail: kp@hyperams.com
Telephone: (847) 499-7049

The HYPERAMS Asset Disposition Team -- http://www.hyperams.com--
focuses on investing in the excess assets of healthy and
distressed companies operating in the middle market and below.
HYPERAMS' Appraisal Team provides valuations of machinery and
equipment and inventory in most industry verticals.


* William Dolan Joins Donoghue Barrett & Singal as Partner
----------------------------------------------------------
Continuing a major expansion of its legal services in Rhode
Island, Donoghue Barrett & Singal (DBS) on April 17 disclosed that
William M. Dolan, III is joining its Providence office as a
partner.  Mr. Dolan comes to DBS from the Rhode Island office of
Brown Rudnick where he served as the firm's Managing Director of
Litigation and as General Counsel and Chief Legal Officer.  He
officially joins DBS on May 5.

Well-known in Rhode Island for his work in the state and federal
courts in the region, Mr. Dolan practices in the areas of
commercial litigation, professional ethics and malpractice,
bankruptcy, and construction law.  He also has extensive
experience as an arbitrator and mediator.  In his most recent
high-profile case, Mr. Dolan represented the City of Providence in
the successful defense and settlement of groundbreaking class
action pension reform litigation.

The appointment of Mr. Dolan marks the second time in the past
three months that DBS has announced an expansion of the depth and
scope of its Rhode Island practice.  In February, Atty. Stephen F.
Del Sesto, a noted business and insolvency attorney, joined DBS
from Shechtman Halperin Savage of Pawtucket.

Jeffrey Chase-Lubitz, managing partner of the DBS Providence
office, said, "The addition of Bill Dolan to our team is another
significant milestone in our plan for growth in Rhode Island.  For
the past 25 years, Bill has demonstrated his skill and talent in
winning high-stakes cases for plaintiffs and defendants.  His
broad experience, keen insights, and knowledge of the region's
state and federal courts will greatly benefit our clients.  We are
delighted to have him on board."

Mr. Dolan said, "I am honored to join Jeff Chase-Lubitz and Steve
Del Sesto in the Providence office to further expand DBS' presence
in Rhode Island.  Having practiced law in the region, I am aware
of their track record of success and integrity as lawyers of the
highest caliber.  By joining forces, we offer comprehensive
services in healthcare, major litigation, professional
malpractice, and matters involving distressed companies and
governmental entities."

Among Mr. Dolan's most notable cases are the successful defense of
the State of Rhode Island in a $750 million litigation matter
involving Blue Cross Blue Shield and United Healthcare; a jury
verdict for a Fortune 500 company on a multi-million claim arising
from the acquisition of two power production facilities in New
England; and co-counsel to the State of R.I. in the prosecution
and settlement of claims against tobacco companies resulting in
the historic master settlement agreement that awarded the state $1
billion in damages.

Mr. Dolan, who is an adjunct professor of constitutional law at
the University of Rhode Island, was recognized by Woodward/White's
The Best Lawyers in America 2011 in the area of construction law
and in the 2013 edition for construction law and litigation.  He
has bar admissions in Rhode Island, Maryland, U.S. District Court,
U.S. Bankruptcy Court for the districts of R.I. and Maryland, the
Supreme Court of R.I., and Maryland Court of Appeals.  Bill also
will be working with the DBS Litigation Practice in Boston on
Massachusetts cases.

He earned his J.D. from Emory University and is a Phi Beta Kappa
graduate of the University of Rhode Island.  Mr. Dolan is a
resident of Providence.

Mr. Dolan will be joined at DBS by William K. Wray, currently an
associate at Brown Rudnick.

                About Donoghue Barrett & Singal

Donoghue Barrett & Singal (DBS) -- http://www.dbslawfirm.com--
has offices in Boston and Providence, R.I. The firm, now observing
its 25th anniversary, has one of the largest healthcare practices
in New England.  DBS provides strategic and legal counsel across
health law, litigation, and government relations. The firm
combines deep industry knowledge, dynamic thinking, and a
collaborative approach to help clients achieve their most
important objectives.  The firm's expertise covers a broad
spectrum of legal services in nearly 30 industries.   DBS co-
founder Roger Donoghue is also a principal in Murphy Donoghue
Partners, a wholly owned subsidiary of DBS that was formed in
November 2013.  Murphy Donoghue Partners, which shares office
space with DBS in Boston, provides comprehensive lobbying services
and strategies to a diverse group of clients.


* Leonard Rosen of Wachtell Lipton Dies at Age 83
-------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Leonard M. Rosen, one of the founders of Wachtell
Lipton Rosen & Katz, died on April 16 at age 83.  He will be
remembered as one of the deans of the bankruptcy bar who brought a
creditors' rights practice to a major law firm when the law was
transitioning from the Bankruptcy Act of 1898 to the Bankruptcy
Code adopted in 1978, Mr. Rochelle said.

According to the report, the firm was and remains pre-eminent in
mergers and acquisitions and in the practice area he headed, the
representation of institutional creditors in major corporate
reorganizations.

Until his retirement in 1997, Rosen was perennially counsel for
the lenders, often with his friend Harvey Miller representing the
bankrupt company, the report related.

Rosen's one venture into representing a bankrupt company was in
the Chapter XI debt arrangement of W.T. Grant Co., the largest
retailer to have sought bankruptcy protection until that time, the
report further related.

As one of Wachtell Lipton's leaders, Rosen steered an atypical
course for an elite law firm, the report added.  Rather than grow
rapidly, like Skadden Arps Slate Meagher & Flom LLP, the other
leading M&A firm, Rosen kept the firm small, with a low partner to
associate ratio. The firm was extremely selective in hiring young
lawyers, taking only those at or near the top of their law school
classes.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                             Total
                                            Share-     Total
                                  Total   Holders'   Working
                                 Assets     Equity   Capital
  Company          Ticker          ($MM)      ($MM)     ($MM)
  -------          ------        ------   --------   -------
ABSOLUTE SOFTWRE   OU1 GR         142.1      (11.2)     (6.3)
ABSOLUTE SOFTWRE   ALSWF US       142.1      (11.2)     (6.3)
ABSOLUTE SOFTWRE   ABT CN         142.1      (11.2)     (6.3)
ABSOLUTE SOFTWRE   OU1 TH         142.1      (11.2)     (6.3)
ACHAOGEN INC       AKAO US         13.8       (0.0)      2.1
ADVANCED EMISSIO   OXQ1 GR        106.4      (46.1)    (15.3)
ADVANCED EMISSIO   ADES US        106.4      (46.1)    (15.3)
ADVENT SOFTWARE    AXQ GR         456.3     (111.8)   (106.0)
ADVENT SOFTWARE    ADVS US        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    ADH GR       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    AC/A CN      9,470.0   (1,397.0)     98.0
AIR CANADA-CL A    AIDIF US     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    AC/B CN      9,470.0   (1,397.0)     98.0
AIR CANADA-CL B    AIDEF US     9,470.0   (1,397.0)     98.0
ALIMERA SCIENCES   ASZ GR          19.6       (4.9)     13.7
ALIMERA SCIENCES   ALIM US         19.6       (4.9)     13.7
ALIMERA SCIENCES   ASZ TH          19.6       (4.9)     13.7
ALLIANCE HEALTHC   AIQ US         489.8     (136.6)     58.7
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 GR      42,278.0   (2,731.0)    517.0
AMERICAN AIRLINE   A1G TH      42,278.0   (2,731.0)    517.0
AMERICAN AIRLINE   AAL US      42,278.0   (2,731.0)    517.0
AMERICAN AIRLINE   AAL* MM     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)
ANGIE'S LIST INC   8AL GR         105.6      (18.5)    (21.7)
ANGIE'S LIST INC   ANGI US        105.6      (18.5)    (21.7)
ARRAY BIOPHARMA    ARRY US        146.3       (5.4)     90.2
ATLATSA RESOURCE   ATL SJ         768.5      (14.1)     30.2
AUTOZONE INC       AZO US       7,262.9   (1,710.3)   (860.8)
AUTOZONE INC       AZ5 GR       7,262.9   (1,710.3)   (860.8)
AUTOZONE INC       AZ5 TH       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   BERY US      5,264.0     (183.0)    681.0
BERRY PLASTICS G   BP0 GR       5,264.0     (183.0)    681.0
BIOCRYST PHARM     BCRX US         48.9       (1.1)     26.9
BIOCRYST PHARM     BO1 GR          48.9       (1.1)     26.9
BIOCRYST PHARM     BO1 TH          48.9       (1.1)     26.9
BIODELIVERY SCIE   BDSI US         38.0       (0.8)      1.6
BIODELIVERY SCIE   BD5 GR          38.0       (0.8)      1.6
BRP INC/CA-SUB V   BRPIF US     1,875.1      (63.7)    116.5
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
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   CVC US       6,591.1   (5,274.3)    283.4
CABLEVISION SY-A   CVY GR       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
CELLADON CORP      72C GR          24.6      (44.3)     20.1
CENTENNIAL COMM    CYCL US      1,480.9     (925.9)    (52.1)
CENVEO INC         CVO US       1,213.7     (497.0)    141.2
CHOICE HOTELS      CZH GR         539.9     (464.2)     84.3
CHOICE HOTELS      CHH US         539.9     (464.2)     84.3
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 GR      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)
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     DPZ US         525.3   (1,290.2)     96.9
DOMINO'S PIZZA     EZV TH         525.3   (1,290.2)     96.9
DOMINO'S PIZZA     EZV GR         525.3   (1,290.2)     96.9
DUN & BRADSTREET   DB5 GR       1,890.3   (1,042.3)    (29.9)
DUN & BRADSTREET   DNB US       1,890.3   (1,042.3)    (29.9)
DUN & BRADSTREET   DB5 TH       1,890.3   (1,042.3)    (29.9)
EASTMAN KODAK CO   KODN GR      3,815.0   (3,153.0)   (785.0)
EASTMAN KODAK CO   KODK US      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)
FAIRPOINT COMMUN   FRP US       1,599.9     (309.2)     34.3
FERRELLGAS-LP      FGP US       1,620.8     (101.2)     20.0
FERRELLGAS-LP      FEG GR       1,620.8     (101.2)     20.0
FIVE9 INC          1F9 GR          56.3       (3.0)      1.1
FIVE9 INC          FIVN US         56.3       (3.0)      1.1
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
FREESCALE SEMICO   1FS TH       3,047.0   (4,594.0)  1,133.0
GENTIVA HEALTH     GHT GR       1,262.6     (300.2)     94.3
GENTIVA HEALTH     GTIV US      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   6GB GR         548.7       (3.4)    286.9
GLOBAL BRASS & C   BRSS US        548.7       (3.4)    286.9
GRAHAM PACKAGING   GRM US       2,947.5     (520.8)    298.5
GREENSHIFT CORP    VD4B GR          8.4      (39.6)    (41.2)
HALOZYME THERAPE   HALOZ GR       101.8      (20.0)     69.7
HALOZYME THERAPE   HALO US        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
HD SUPPLY HOLDIN   5HD GR       6,324.0     (764.0)  1,210.0
HD SUPPLY HOLDIN   HDS US       6,324.0     (764.0)  1,210.0
HORIZON PHARMA I   HZNP US        252.6      (49.1)     67.5
HORIZON PHARMA I   HPM GR         252.6      (49.1)     67.5
HORIZON PHARMA I   HPM TH         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        INCY US        629.6     (193.1)    447.8
INCYTE CORP        ICY GR         629.6     (193.1)    447.8
INCYTE CORP        ICY TH         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 CN        1,543.7     (199.3)    (12.4)
JUST ENERGY GROU   JE US        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       LB US        7,198.0     (369.0)  1,324.0
L BRANDS INC       LTD GR       7,198.0     (369.0)  1,324.0
L BRANDS INC       LTD TH       7,198.0     (369.0)  1,324.0
LDR HOLDING CORP   LDRH US         77.7       (7.2)     10.3
LEAP WIRELESS      LEAP US      4,662.9     (125.1)    346.9
LEAP WIRELESS      LWI TH       4,662.9     (125.1)    346.9
LEAP WIRELESS      LWI GR       4,662.9     (125.1)    346.9
LEE ENTERPRISES    LEE US         820.2     (157.4)      9.9
LORILLARD INC      LO US        3,536.0   (2,064.0)  1,085.0
LORILLARD INC      LLV TH       3,536.0   (2,064.0)  1,085.0
LORILLARD INC      LLV GR       3,536.0   (2,064.0)  1,085.0
LUMENPULSE INC     LMP CN          29.4      (38.4)      3.5
LUMENPULSE INC     0L6 GR          29.4      (38.4)      3.5
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      NNF1 GR        258.6      (30.7)    (51.5)
MANNKIND CORP      NNF1 TH        258.6      (30.7)    (51.5)
MANNKIND CORP      MNKD US        258.6      (30.7)    (51.5)
MARRIOTT INTL-A    MAR US       6,794.0   (1,415.0)   (772.0)
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)
MAUI LAND & PINE   MLP US          56.7      (36.0)    (54.8)
MDC PARTNERS-A     MDZ/A CN     1,425.2     (128.1)   (189.8)
MDC PARTNERS-A     MDCA US      1,425.2     (128.1)   (189.8)
MDC PARTNERS-A     MD7A GR      1,425.2     (128.1)   (189.8)
MERITOR INC        AID1 GR      2,497.0     (808.0)    337.0
MERITOR INC        MTOR US      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   MRTX US         18.5      (24.3)    (25.3)
MIRATI THERAPEUT   26M GR          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
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   NXZ GR       1,163.7      (13.2)    117.2
NEXSTAR BROADC-A   NXST US      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)
OPOWER INC         38O GR          63.1       (6.3)    (11.9)
OPOWER INC         38O TH          63.1       (6.3)    (11.9)
OVERSEAS SHIPHLD   OSGIQ US     3,644.5      (60.2)    439.5
PALM INC           PALM US      1,007.2       (6.2)    141.7
PHIBRO ANIMAL HE   PAO EU         480.8      (63.5)    179.9
PHIBRO ANIMAL HE   PAO GR         480.8      (63.5)    179.9
PHIBRO ANIMAL HE   PAHC LN        480.8      (63.5)    179.9
PHIBRO ANIMAL-A    PAHC US        480.8      (63.5)    179.9
PHIBRO ANIMAL-A    PB8 GR         480.8      (63.5)    179.9
PHILIP MORRIS IN   PM US       36,137.0   (7,157.0)    854.0
PHILIP MORRIS IN   PM1 EU      36,137.0   (7,157.0)    854.0
PHILIP MORRIS IN   4I1 TH      36,137.0   (7,157.0)    854.0
PHILIP MORRIS IN   PM1 TE      36,137.0   (7,157.0)    854.0
PHILIP MORRIS IN   PMI SW      36,137.0   (7,157.0)    854.0
PHILIP MORRIS IN   PM FP       36,137.0   (7,157.0)    854.0
PHILIP MORRIS IN   4I1 GR      36,137.0   (7,157.0)    854.0
PHILIP MORRIS IN   PM1CHF EU   36,137.0   (7,157.0)    854.0
PHILIP MORRIS IN   PM1EUR EU   36,137.0   (7,157.0)    854.0
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)
QUICKSILVER RES    KWK US       1,369.7   (1,006.0)    259.2
QUINTILES TRANSN   Q US         3,066.8     (667.5)    463.4
QUINTILES TRANSN   QTS GR       3,066.8     (667.5)    463.4
RE/MAX HOLDINGS    RMAX US        252.0      (22.5)     39.1
RE/MAX HOLDINGS    2RM GR         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      RTRX US         21.4       (5.8)    (10.3)
RETROPHIN INC      17R GR          21.4       (5.8)    (10.3)
REVANCE THERAPEU   RTI GR          18.9      (23.7)    (28.6)
REVANCE THERAPEU   RVNC US         18.9      (23.7)    (28.6)
REVLON INC-A       RVL1 GR      2,123.9     (596.5)    246.4
REVLON INC-A       REV US       2,123.9     (596.5)    246.4
RITE AID CORP      RAD US       6,944.9   (2,113.7)  1,777.7
RITE AID CORP      RTA GR       6,944.9   (2,113.7)  1,777.7
RURAL/METRO CORP   RURL US        303.7      (92.1)     72.4
SABRE CORP         SABR US      4,755.7     (317.7)   (273.6)
SABRE CORP         19S GR       4,755.7     (317.7)   (273.6)
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    2SA GR         374.2      (29.4)     71.6
SMART TECHNOL-A    SMA CN         374.2      (29.4)     71.6
SMART TECHNOL-A    SMT US         374.2      (29.4)     71.6
SMART TECHNOL-A    2SA TH         374.2      (29.4)     71.6
SPORTSMAN'S WARE   SPWH US        265.0     (128.6)     76.1
SUNESIS PHARMAC    RYIN TH         40.5       (6.2)      6.5
SUNESIS PHARMAC    SNSS US         40.5       (6.2)      6.5
SUNESIS PHARMAC    RYIN GR         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      SJ1 TH       4,711.0     (983.0)    272.0
SUPERVALU INC      SVU US       4,711.0     (983.0)    272.0
TANDEM DIABETES    TNDM US         48.6       (2.8)     13.8
TANDEM DIABETES    TD5 GR          48.6       (2.8)     13.8
TAUBMAN CENTERS    TU8 GR       3,506.2     (215.7)      -
TAUBMAN CENTERS    TCO US       3,506.2     (215.7)      -
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   TNET US      1,434.7     (270.4)     65.1
TRINET GROUP INC   TN3 GR       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 TH      2,510.0     (663.9)    516.0
UNISYS CORP        UISEUR EU    2,510.0     (663.9)    516.0
UNISYS CORP        USY1 GR      2,510.0     (663.9)    516.0
UNISYS CORP        UISCHF EU    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    VS2 GR          33.7       (1.5)      1.8
VARONIS SYSTEMS    VRNS US         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 GR       2,660.8     (423.6)   (226.0)
VERISIGN INC       VRS TH       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 TH       1,408.9   (1,474.6)    (30.1)
WEIGHT WATCHERS    WW6 GR       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   WME GR         939.8     (280.3)      4.1
WESTMORELAND COA   WLB US         939.8     (280.3)      4.1
XERIUM TECHNOLOG   XRM US         624.1      (11.4)    107.5
XOMA CORP          XOMA US        134.8       (4.0)     97.4
XOMA CORP          XOMA GR        134.8       (4.0)     97.4
XOMA CORP          XOMA TH        134.8       (4.0)     97.4
YRC WORLDWIDE IN   YRCW US      2,064.9     (597.4)    213.3
YRC WORLDWIDE IN   YEL1 TH      2,064.9     (597.4)    213.3
YRC WORLDWIDE IN   YEL1 GR      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.


                  *** End of Transmission ***