TCR_Public/140616.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Monday, June 16, 2014, Vol. 18, No. 166

                            Headlines

38 STUDIOS: Trustee Launches Slew Of Clawback Suits
AFFINION GROUP: S&P Raises CCR to 'CCC+'; Outlook Negative
AFFYMAX INC: Takeda Terminates Collaboration Agreement
AGFEED INDUSTRIES: Seeks Fifth Exclusivity Extension
AMERICAN AIRLINES: Beats Back Claims by TWA Pilots

ARAMID ENTERTAINMENT: Case Summary & 20 Top Unsecured Creditors
ARCH COAL: Bank Debt Trades at 2% Off
ARGUS GROUP: A.M. Best Affirms 'bb' Issuer Credit Rating
ASHER INVESTMENT: Section 341(a) Meeting Set on July 14
AURA SYSTEMS: Incurs $13.9 Million Net Loss in Fiscal 2014

BELLINGHAM INSURANCE: Lawyer Weighs In On High Ct's Arkison Ruling
BERNARD L. MADOFF: New Bid to Appeal Good-Faith Defenses
BREVITY VENTURES: Case Summary & 20 Largest Unsecured Creditors
BROOKSTONE HOLDINGS: New Owner to Keep Almost All Stores Open
CAESARS ENTERTAINMENT: Redefines Itself, Still Has Debts

CBM ASIA: Gets Breach Notices From Ephindo in Kutai West Contract
CENGAGE LEARNING: To Pay $68M Bankruptcy Fees To Kirkland, Others
CHAMPION INDUSTRIES: Incurs $248,000 Net Loss in Second Quarter
CHGC INC: Case Summary & 16 Largest Unsecured Creditors
CHINA NATURAL: U.S. Trustee Wants Case Converted to Ch. 7

COLDWATER CREEK: Committee Wants Exclusive Periods Terminated
COLDWATER CREEK: Panel Hires Lowenstein Sandler as Counsel
COLDWATER CREEK: Panel Taps Cozen O'Connor as Delaware Counsel
COLDWATER CREEK: Creditors' Panel Hires GlassRatner as Advisor
COLDWATER CREEK: Creditors' Panel Wants Exclusivity Terminated

COMARCO INC: Amends Fiscal 2014 Annual Report to Add Info.
COMPASS MINERALS: S&P Affirms 'BB+' CCR; Outlook Stable
DBSI INC: Former Prez Says Evidence For $169M Fraud 'Insufficient'
DEWEY & LEBOEUF: Trustee Raises New Allegations Against Executives
DOLAN CO: Emerges From Chapter 11 Bankruptcy Protection

DREIER LLP: Case Professional Fees Total $17.7 Million
DUTCH MINING: Files for Liquidation in Georgia Bankruptcy Court
EMMAUS EVANGELICAL: Case Summary & 20 Largest Unsecured Creditors
EMANUEL COHEN: Section 341(a) Meeting Set on July 11
ENERGY FUTURE: Hires Sidney Austin as Corporate Counsel

ENERGY FUTURE: Wants to Hire McDermott as Counsel on Energy Deals
ENERGY FUTURE: Hires Epiq as Administrative Advisor
ENERGY FUTURE: Taps Gibson Dunn as Special Counsel
ENVISION HEALTHCARE: S&P Assigns 'B' Rating to $650MM Unsec. Notes
EWGS INTERMEDIARY: Gets Nod For Ch. 11 Disclosure Statement

FITNESS INTERNATIONAL: S&P Assigns 'B' CCR & Rates New Debt 'B'
FL 6801 SPIRITS: $5-Mil. DIP Financing Has Interim Approval
FL 6801 SPIRITS: June 25 Hearing on 360 Miami-Led Sale Process
FL 6801 SPIRITS: Taps Prime Clerk as Claims Agent
FLORIDA GAMING: Ch. 11 Plan of Liquidation Filed

FLORIDA MULTISPECIALTY: Case Summary & 20 Top Unsecured Creditors
FOREST HOME: Case Summary & 8 Largest Unsecured Creditors
FREEDOM INDUSTRIES: Lawyers Working on Short Rations
GENERAL GLASS: Case Summary & 20 Largest Unsecured Creditors
GENERAL MOTORS: Prosecutors Interview Workers in Recall Probe

GENERAL MOTORS: Recalls Nearly 600,000 More Vehicles
GENEX SERVICES: S&P Withdraws 'B' CCR; Outlook Stable
GENERAL MOTORS: Tug of War Emerges Over Data Recorders
GLOBAL AVIATION: Court Approves Starman Bros as Auctioneer
GLOBAL GEOPHYSICAL: Court Approves KERP

GRIDWAY ENERGY: Platinum Wins Auction; Sale Hearing Today
GRIDWAY ENERGY: U.S. Trustee Balks at Accord With Panel & Lender
GRIDWAY ENERGY: UST Says Incentive Plan Should Be Nixed
GRIDWAY ENERGY: Sec. 341 Creditors' Meeting Continued Today
GSE ENVIRONMENTAL: Court Approves Plan Disclosures

HERTZ CORP: DBRS Confirms 'BB' Issuer Rating, Trend Revised to Neg
HOSTESS BRANDS: 8th Circ. Overturns Rulings On License Transfers
HOUSTON REGIONAL: Asks for More Time to File Exit Plan
HUSKY INJECTION: S&P Assigns 'B' Rating to US$1.265BB Sr. Loan
IDERA PHARMACEUTICALS: Stockholders Elected Two Directors

IMAGING EXPANSIONS: Case Summary & 11 Largest Unsecured Creditors
ISC8 INC: Receives Default Notice From PFG
J.C. PENNEY: New Financing Gives Retailer Room To Grow Again
J2 GLOBAL: S&P Assigns BB CCR & Rates $350 Convertible Notes B+
JAMES RIVER: Sale of Idled Mining Complex Approved

KANGADIS FOOD: Section 341(a) Meeting Set on July 11
KU6 MEDIA: Posts $4.41 Million Net Loss in First Quarter
LIME ENERGY: Settles Class Action Suit for $2.5 Million
LONGVIEW POWER: Seeks Exclusivity Extension Until Sept. 3
LONGVIEW POWER: Can Halt Lawsuit Threatening Restructuring

M&B21 HARRISON: Case Summary & 6 Largest Unsecured Creditors
MARTIFER SOLAR: Finds a Buyer for Solar-Power Business
MERCHANT CAPITAL: Case Summary & Largest Unsecured Creditors
METRORIVERSIDE LLC: Case Summary & 20 Largest Unsecured Creditors
MF GLOBAL: Wants Claims By Corzine, Other Former Execs Capped

MMODAL INC: Heads to July 15 Hearing on Chapter 11 Plan Approval
MOBILESMITH INC: Inks $5 Million Loan Pact with Comerica Bank
MOMENTIVE PERFORMANCE: Restructuring Agreement Draws Flak
MSD PERFORMANCE: Winds Down in Chapter 7 After Sale
MT. GOX: CoinLab Backs Ch. 15 Bid, With Conditions

NATROL INC: Files for Chapter 11 in Wake of Class Actions
NEUSTAR INC: S&P Puts 'BB' CCR on CreditWatch Negative
NEW ALBERTSON'S: S&P Revises Outlook to Pos. & Affirms 'CCC+' CCR
NEWLEAD HOLDINGS: Intends to Pursue Damage Claims v. Ironbridge
NEXT 1 INTERACTIVE: Incurs $18.3 Million Net Loss in Fiscal 2014

OGX PETROLEO: Brazilian Court Clears Restructuring Plan
OVERLAND STORAGE: Sheldon Inwentash Reports 5.2% Equity Stake
OVERSEAS SHIPHOLDING: Amended Chapter 11 Plan Filed
OVERSEAS SHIPHOLDING: Seeks Exclusivity Extension Until July 18
PACIFIC VECTOR: Debt Holder Files Notices of Default

PAINT FACTORY: Case Summary & 20 Largest Unsecured Creditors
PANACHE BEVERAGE: Enters Into Restructuring Deal with Consilium
PATRIOT COAL: 8th Circ. Won't Reopen Workers' Exposure Claims
PETTERS COMPANY: Riemer & Braunstein Okayed as Mass. Counsel
PHOENIX REALTY: Case Summary & 7 Largest Unsecured Creditors

PLACID OIL: Order Denying Williameses Tort Claims Affirmed
PRESSURE BIOSCIENCES: To Launch PCT-Based Instrument System
QUIGLEY CO: Pfizer Wins 3rd Straight Asbestos Case
RADIOSHACK CORP: Odds Grow For Co.'s Bankruptcy By Year's End
RENO-SPARKS INDIAN: Fitch Affirms 'BB+' LT Issuer Default Rating

RICEBRAN TECHNOLOGIES: Annual Meeting Set on August 19
ROCKWELL MEDICAL: To Issue 1.7MM Shares Under 2007 Incentive Plan
ROVI CORP: S&P Assigns 'BB-' Rating to $1BB Credit Facilities
SANCHEZ ENERGY: S&P Assigns 'B-' Rating to $700MM Unsecured Notes
SECUREALERT INC: Files Financial Reports of Acquired Businesses

SOLID ROCK COMMUNITY: Case Summary & 16 Top Unsecured Creditors
SPOGAIN INVESTMENTS: Case Summary & Largest Unsecured Creditors
STARR PASS: Case Summary & 4 Largest Unsecured Creditors
STARTER HOMES: Case Summary & 7 Largest Unsecured Creditors
STOCKTON, CA: City Argues for End to Bankruptcy In Last Trial Day

TENET HEALTHCARE: Fitch Assigns 'B-' Rating to $500MM Unsec. Notes
TOP SHIPS: Closes Underwritten Public Offering of Shares
UC HOLDINGS: S&P Affirms 'B-' CCR After $25MM Add-On Notes
US COAL CORP: Involuntary Chapter 11 Case Summary
VERITEQ CORP: Inks Rights to Shares Agreement with Alpha Capital

VICTORY ENERGY: Files Copy of June 2014 Investor Presentation
W.R. GRACE: Former Worker's Rep Lacked Standing to Pursue Claim
WALTER ENERGY: Bank Debt Trades at 4% Off
XZERES CORP: Incurs $9.5 Million Net Loss in Fiscal 2014
YARWAY CORP: Defendant Allowed to Subpoena Bankruptcy Trusts

* Atty Liable in Hospital Takeover Scheme, Panel Rules
* Bank Fraud Liability May Grow If High Court Acts
* Lawyer Denied Judicial Immunity for Violating Automatic Stay
* Evicted Tenant Still Can Raise Stay Violation Claim
* Expense of Jailing a Child Survives Parents' Bankruptcy
* Rule Makers Tighten Accounting for 'Repos'

* BofA Mortgage Talks Said to Stall as U.S. Prepares Suit
* BNP Paribas Fine Seen Eclipsing Past U.S. Sanctions Cases
* Citigroup SEC Accord Revived as Agency Power Strengthened

* College Graduates Struggle to Find Employment Worth a Degree
* EU Ministers Back Proposal on Cross-Border Bankruptcies
* Legislative Assault on the Financial Stability Oversight Council
* Risk of Banks Dodging Rules Leads to U.S. FDIC Scrutiny

* James Nugent Joins Huron's Business Advisory Practice

* BOND PRICING -- For Week From June 9 to 13, 2014


                             *********


38 STUDIOS: Trustee Launches Slew Of Clawback Suits
---------------------------------------------------
Law360 reported that the Chapter 7 trustee for former Major League
Baseball pitcher Curt Schilling's failed video game company 38
Studios LLC went on a bit of a litigation blitz, filing 17 so-
called avoidance actions looking to claw back money for the
benefit of creditors in the case.

According to the report, the lawsuits are aimed at recovering what
are known as alleged preferential payments made during the 90-day
period before 38 Studios filed for bankruptcy in April 2012.  The
video game venture's estate appears to be seeking to claw back a
total of about $630,000, with firms such as PricewaterhouseCoopers
LLC, Dell Marketing LP and Oracle America Inc. in its sights, the
report cited court records.

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


AFFINION GROUP: S&P Raises CCR to 'CCC+'; Outlook Negative
----------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term corporate
credit rating on Affinion Group Holdings Inc. (Affinion Holdings)
to 'CCC+' from 'SD'.  The rating outlook is negative.

In addition, S&P raised its issue-level ratings on Affinion
Holdings' 13.75%/14.5% senior secured PIK/toggle notes due 2018 to
'CCC-' from 'D'.  The recovery rating on the debt is '6',
indicating S&P's expectation of negligible recovery in the event
of a payment default.

"The upgrade reflects the completion of the exchange offer.  About
$88.7 million of the existing holding company notes (approximately
30.1%) were tendered in the exchange offer.  About $204 million of
the existing holding company's notes remain outstanding," said
Standard & Poor's credit analyst Elton Cerda.


AFFYMAX INC: Takeda Terminates Collaboration Agreement
------------------------------------------------------
Affymax, Inc., received from Takeda Pharmaceutical Company Limited
a written notice of termination of the Collaboration and License
Agreement between the parties, dated June 27, 2006, as amended.
The Notice provides that, in accordance with the Agreement, the
Agreement will be terminated effective as of Sept. 10, 2014.
Takeda's decision to terminate the Agreement is a result of its
detailed investigation of safety concerns of Omontys.

In February 2013, Affymax and Takeda voluntarily recalled all lots
of Omontys and suspended promotional activities in the U.S.
following postmarketing reports of serious hypersensitivity
reactions including anaphylaxis, which may be life-threatening or
fatal.

Takeda has conducted a detailed investigation of these reactions.
The investigation has confirmed no quality or manufacturing issues
were present but has not identified a specific root cause for the
reactions that were observed.

Based on these findings and related discussions with Takeda,
Affymax has elected not to exercise its rights with respect to the
Omontys New Drug Application (NDA).  Takeda will work with the
U.S. Food and Drug Administration to withdraw the Omontys NDA.

The Board of Directors of Affymax is reviewing its strategic
options as a result of the termination of the collaboration with
Takeda.

This termination does not change the outlook for Takeda's
consolidated results for fiscal 2014.

                           About Affymax

Affymax, Inc. (Nasdaq: AFFY) is a biopharmaceutical company based
in Palo Alto, California.  In March 2012, the U.S. Food and Drug
Administration approved the Company's first and only product,
OMONTYS(R) (peginesatide) Injection for the treatment of anemia
due to chronic kidney disease in adult patients on dialysis.
OMONTYS is a synthetic, peptide-based erythropoiesis stimulating
agent, or ESA, designed to stimulate production of red blood cells
and has been the only once-monthly ESA available to the adult
dialysis patient population in the U.S.  The Company co-
commercialized OMONTYS with its collaboration partner, Takeda
Pharmaceutical Company Limited, or Takeda during 2012 until
February 2013, when the Company and Takeda announced a nationwide
voluntary recall of OMONTYS as a result of safety concerns.

As of March 31, 2014, the Company had $6.46 million in total
assets, $8.79 million in total liabilities and a $2.33 million
total stockholders' deficit.

                         Bankruptcy Warning

"Because we have not made an irrevocable decision to liquidate,
the accompanying condensed financial statements have been prepared
under the assumption of a going concern basis that contemplates
the realization of assets and liabilities in the ordinary course
of business.  Operating losses have been incurred each year since
inception, resulting in an accumulated deficit of $559.5 million
as of March 31, 2014.  Nearly all of our revenues to date have
come from our collaboration with Takeda.  As a result of the
February 23, 2013 nationwide voluntary recall of OMONTYS and the
suspension of all marketing activities, there is significant
uncertainty as to whether we will have sufficient existing cash to
fund our operations for the next 12 months.  Given our limited
resources, there is no assurance that we will be able to reduce
our operating expenses enough to meet our existing and future
obligations and conduct ongoing operations.  If we do not have
sufficient funds to continue operations, we could be required to
liquidate our assets, seek bankruptcy protection or other
alternatives.  Any failure to dispel any continuing doubts about
our ability to continue as a going concern could adversely affect
our ability to enter into collaborative relationships with
business partners.  These matters raise substantial doubt about
our ability to continue as a going concern.  Our financial
statements do not include any adjustments that may result from the
outcome of this uncertainty," the Company said in the Quarterly
Report for the period ended March 31, 2014.

Affymax reported a net loss of $14.42 million in 2013 following a
net loss of $93.41 million in 2012.

Ernst & Young LLP, in Redwood City, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that there is significant uncertainty as to whether the Company
will have sufficient financial resources to fund its operations
for the next 12 months.  This condition raises substantial doubt
about the Company's ability to continue as a going concern.


AGFEED INDUSTRIES: Seeks Fifth Exclusivity Extension
----------------------------------------------------
BankruptcyData reported that AgFeed Industries filed with the U.S.
Bankruptcy Court a fifth motion to extend the exclusive period
during which the Company can file a Chapter 11 plan and solicit
acceptances thereof through and including July 21, 2014 and
September 19, 2014, respectively.

According to BData, the motion explains, "The facts and
circumstances of these Chapter 11 cases justify further extending
the Exclusive Periods to provide the Debtors with an unimpeded
opportunity to confirm a plan of liquidation. Since the last
extension, the Debtors have continued to make significant progress
with various constituencies on the term of a revised chapter 11
plan....The Debtors intend to use a further extension to achieve
as much consensus as possible with the various other
constituencies and begin the process of achieving plan
confirmation. Debtors have no ulterior motive in seeking an
extension of the Exclusive Periods....If this Court were to deny
the Debtors' request for an extension of the Exclusive Periods,
any party in interest would be free to propose a chapter 11 plan
for the Debtors. Such a ruling would upset the delicate
negotiating balance the Debtors have achieved, including Equity
Holders' committee support of the First Amended Plan and would
foster a chaotic environment with no central focus and cause
substantial, if not irreparable, harm to the Debtors' efforts to
preserve and maximize the value of their estates."

                   About AgFeed Industries

AgFeed Industries, Inc., has 21 farms and five feed mills in China
producing more than 250,000 hogs annually. In the U.S., the
business included 10 sow farms in three states and two feed mills
producing more than one million hogs a year. AgFeed's revenue in
2012 was $244 million.

AgFeed and its affiliates filed voluntary petitions under Chapter
11 of the Bankruptcy Code (Bankr. D. Del. Case No. 13-11761) on
July 15, 2013, with a deal to sell most of its subsidiaries to The
Maschhoffs, LLC, for cash proceeds of $79 million, absent higher
and better offers.  The Debtors estimated assets of at least $100
million and debts of at least $50 million.

Keith A. Maib signed the petition as chief restructuring officer.
Hon. Brendan Linehan Shannon presides over the case.  Donald J.
Bowman, Jr., and Robert S. Brady, Esq., at Young, Conaway,
Stargatt & Taylor, serve as the Debtors' counsel.   BDA Advisors
Inc. acts as the Debtors' financial advisor.  The Debtors' claims
and noticing agent is BMC Group, Inc.

The U.S. Trustee has appointed a five-member official committee of
unsecured creditors to the Chapter 11 cases.  The Creditors'
Committee tapped Lowenstein Sandler as lead bankruptcy counsel and
Greenberg Traurig, LLP, as co-counsel.  CohnReznick LLP serves as
the Creditors' Committee's financial advisor.

An official committee of equity security holders was also
appointed to the Chapter 11 cases.  The Equity Committee tapped
Sugar Felsenthal Grais & Hammer LLP and Elliott Greenleaf as
co-counsel.

In October 2013, AgFeed completed the sale of the U.S. operations
to three buyers for $79.45 million, including $53.4 million in
cash.

In November 2013, the Court authorized AgFeed to sell its Chinese
assets to Hong Kong firm Good Charm International Development Ltd.
in a deal that is expected to net the debtor $45 million once
several highly negotiated price adjustments are factored in.  An
auction was held for the Chinese facilities on Nov. 20, although
no one emerged to top what was originally a $50.5 million bid.
The price was lowered by $3.45 million in view of what the
contract called "newly discovered" operational problems and
"deterioration of the performance" of feed mills.

                          *     *     *

In December 2013, AgFeed filed a proposed plan of liquidation
showing all creditors as being paid in full, with interest.  The
Plan proposes to create a trust to prosecute lawsuits and collect
remaining assets.

As reported by the Troubled Company Reporter on May 21, 2014, the
Debtors filed their First Amended Chapter 11 Plan of Liquidation
and accompanying disclosure statement.  The Plan is supported by
the Official Committee of Equity Security Holders.  A copy of the
Disclosure Statement is available for free at:

            http://bankrupt.com/misc/Agfeed_1076_DS.PDF


AMERICAN AIRLINES: Beats Back Claims by TWA Pilots
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that American Airlines, which merged with US Airways Group
Inc. and emerged from Chapter 11 reorganization last year as
American Airlines Group Inc., got a helping hand when a bankruptcy
judge in New York threw out a lawsuit by pilots who worked for
Trans World Airlines Inc.

According to the report, U.S. Bankruptcy Judge Sean H. Lane
dismissed the TWA pilots' class action as originally filed, citing
cases showing how a union isn't required to treat all members
identically. Given the duty to represent all members, a union can
make distinctions.  Judge Lane said the TWA pilots presented no
facts showing the union "intended to unlawfully discriminate" in
deciding that the issue of seniority wouldn't be reopened in
arbitration, the report related.

The TWA pilots suit is Krakowski v. American Airlines Inc. (In re
AMR Corp.), 13-ap-01283, 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.


ARAMID ENTERTAINMENT: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

       Debtor                                 Case No.
       ------                                 --------
       Aramid Entertainment Fund Limited      14-11802
       c/o Kinetic Partners
       675 Third Avenue, 21st Floor
       New York, NY 10017

       Aramid Liquidating Trust, Ltd.         14-11803
       (f/k/a Aramid Entertainment
       Participation Fund Limited)

       Aramid Entertainment, Inc.,            14-11804
       c/o Kinetic Partners
       675 Third Avenue, 21st Floor
       New York, NY 10017

Type of Business: The Debtors, primarily acting through AEF, have
                  been engaged in the business of providing short
                  and medium term liquidity to producers and
                  distributors of film, television and other media
                  and entertainment content by way of loans and
                  equity investments.

Chapter 11 Petition Date: June 13, 2014

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

Debtors' Counsel: James C. McCarroll, Esq.
                  Michael J. Venditto, Esq.
                  Jordan W. Siev, Esq.
                  Richard A. Robinson, Esq.
                  REED SMITH, LLP
                  599 Lexington Avenue
                  New York, NY 10022
                  Tel: (212) 521-5400
                  Fax: (212) 521-5450
                  Email: jmccarroll@reedsmith.com
                         mvenditto@reedsmith.com
                         jsiev@reedsmith.com
                         rrobinson@reedsmith.com

Debtors'
Crisis
Managers:         KINETIC PARTNERS (Cayman) Limited

                                    Estimated     Estimated
                                     Assets       Liabilities
                                   -------------  -----------
Aramid Entertainment Fund Limited  $100MM-$500MM  $10MM-$50MM
Aramid Entertainment, Inc.         $0-$50,000     $0-$50,000

The petitions were signed by Geoffrey Varga, joint voluntary
liquidator, Aramid Entertainment Fund Limited.

Conslidated List of 16 Largest Unsecured Creditors:

   Entity                        Nature of Claim   Claim Amount
   ------                        ---------------   ------------
Iron Cove Solutions              Professional               $20
                                 services

Zen Internet, Ltd.               Administrative            $418
                                 services

Meeting Zone, Ltd.               Administrative            $632
                                 services

Baker & McKenzie                 Professional              $508
                                 services

Loyens & Loeff                   Professional            $3,564
                                 services

Tysers                           Professional            $9,082
                                 services

The Law Offices of               Professional           $12,367
Steven Goldsobel                 services

McDermott Will & Emergy          Professional           $41,631
                                 services

Mourant Ozannes                  Professional           $60,849
                                 services

Guidepost Solutions, LLC         Professional           $69,098
                                 services

Weinberg Zareh &                 Professional          $123,163
Geyerhahn, LLP                   services

Admiral Administration, Ltd.     Professional          $132,861
                                 services

BDO USA, LLP
1888 Century Park East, 4th Fl.  Professional          $265,392
Los Angeles, CA 90067            services
Tel: 310-557-0300
Fax: 310-557-1777
Attention: Elie Kurtz
Remittance details:
P.O. Box 31001-0860
Pasadena, CA 91110-0860

Levene, Neale, Bender, Yoo        Professional         $707,514
& Brill, LLP                      services
10250 Constellation Blvd.,
Suite 1700
Los Angeles, CA 90067
Tel: 310-226-1234
Fax: 310-229-1244
Attention: David Neale
Email: DLN@lnbyb.com

Jeffer Mangels Butler &            Professional        $990,510
Michell, LLP                       services
1900 Avenue of the Stars
Seventh Floor
Los Angeles, CA 90067
Tel: 310-203-8080
Fax: 310-203-0567
Attention: David Stern
Email: DBS@JMBM.com

Stroock & Stroock &                Professional      $2,303,788
Lavan, LLP                         services
2029 Century Park East
Los Angeles, CA 90067
Attention: Michael Newtown
(Billing Coordinator, Accounts
Receivable) and Sky Moore, Esq.
Emails: smoore@stroock.com and
        mnewton@stroock.com


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 97.96 cents-on-the-
dollar during the week ended Friday, June 13, 2014, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 0.21
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


ARGUS GROUP: A.M. Best Affirms 'bb' Issuer Credit Rating
--------------------------------------------------------
A.M. Best Co. has affirmed the financial strength rating of B++
(Good) and the issuer credit ratings (ICR) of "bbb" of Argus
Insurance Company Limited and Bermuda Life Insurance Company
Limited (Bermuda Life), both of which are subsidiaries of Argus
Group Holdings Limited (Argus Group) [BSE:AGH.BH].  Concurrently,
A.M. Best has affirmed the ICR of "bb" for the Argus Group.  The
outlook for all ratings is stable.  All companies are domiciled in
Hamilton, Bermuda.

The ratings affirmation reflects Argus Group's consolidated
profitable operating results, the strengthening of its capital
metrics and improvement of its asset quality.  On a consolidated
basis, Argus Group's underwriting and net income results turned
positive in 2012, improved substantially in 2013 and continue to
remain favorable.  The improved results are primarily driven by
strong underwriting performance combined with the lack of asset
valuation write-downs.  In addition, Argus Group has been
transitioning its investment portfolio to higher quality lower
risk assets.  As a result, asset valuation write-downs have been
minimal, and the stabilization of the investment portfolio has
resulted in improved investment income.  Furthermore, the
transition of the investment portfolio also is achieving better
asset-liability matching.  The positive net income has allowed the
organization to strengthen its capital level through retained
earnings.

The earnings results for Argus Group's insurance operations
continue to be positive, although the level of premiums and fee-
based income growth has slowed, pressured by continuous weakness
of the Bermuda economy.

Bermuda Life (the organization's domestic life, annuity, pension
and health insurance subsidiary) reported strong net income
results, which were driven primarily by a lower loss ratio for its
health business and positive results from its invested assets.
The favorable earnings, as well as the amalgamation with Somers
Isles Insurance Company in 2013, has strengthened the capital
level for Bermuda Life.  Argus Insurance, the group's domestic
property/casualty writer, continues to record favorable
underwriting results and maintains more than adequate risk-
adjusted capitalization.

Offsetting factors are the intercompany receivables at the
insurance subsidiaries, which while improved, still comprise a
relatively high percentage of overall capital.  In addition,
although the consolidated assets quality improved over the past
several years, an exposure to some low liquid mortgage loans
persists and the holding company liquidity remains low, although
the Argus organization does have working capital/overdraft
facility with a local Bermuda bank.

Factors that may lead to positive rating actions include continued
favorable underwriting and net income results, capital growth,
improved quality of invested assets and better asset-liability
matching.

Factors that may lead to negative rating actions include earnings
deterioration, increase in intercompany receivables and material
investment write-downs that could lead to a decline in equity and
capitalization.


ASHER INVESTMENT: Section 341(a) Meeting Set on July 14
-------------------------------------------------------
A meeting of creditors in the bankruptcy case of Asher Investment
Properties, LLC, will be held on July 14, 2014, at 10:00 a.m. at
RM 5, 915 Wilshire Blvd., 10th Floor, in Los Angeles, California.

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

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

Asher Investment Properties, LLC, owner of a $10 million property
in Beverly Hills, California, filed a Chapter 11 bankruptcy
petition (Bankr. C.D. Cal. Case No. 14-21172) in Los Angeles, on
June 6, 2014.  Yossi Dina signed the petition as managing member.
Asher, a Single Asset Real Estate as defined in 11 U.S.C. Sec.
101(51B), disclosed $11.5 million in assets and $10.7 million in
liabilities.  Gershuni & Kate, ALC, serves as the Debtor's
counsel.  Hon. Barry Russell presides over the case.


AURA SYSTEMS: Incurs $13.9 Million Net Loss in Fiscal 2014
----------------------------------------------------------
Aura Systems, Inc., filed with the U.S. S. Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$13.95 million on $2.33 million of net sales for the year ended
Feb. 28, 2014, as compared with a net loss of $15.14 million on
$2.71 million of net revenues for the year ended Feb. 28, 2013.

The Company's balance sheet as of Feb. 28, 2014, showed $1.49
million in total assets, $32.76 million in total liabilities and a
$31.27 million total stockholders' deficit.

Kabani & Company, Inc., in Los Angeles, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Feb. 28, 2014.  The independent
auditors noted that the Company has historically incurred
substantial losses from operations, and may not have sufficient
working capital or outside financing available to meet its planned
operating activities over the next twelve months.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

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

                         http://is.gd/2WsZu0

                         About Aura Systems

El Segundo, Calif.-based Aura Systems, Inc., designs, assembles
and sells the AuraGen(R), its patented mobile power generator that
uses a prime mover such as the engine of a vehicle to generate
power.


BELLINGHAM INSURANCE: Lawyer Weighs In On High Ct's Arkison Ruling
------------------------------------------------------------------
Law360 reported that the U.S. Supreme Court affirmed a Ninth
Circuit ruling that permits bankruptcy judges to make
recommendations on certain matters that may later be adopted by a
federal court.

According to the report, Martin J. Bienenstock, Esq., at Proskauer
Rose LLP, said that "[w] the Supreme Court expressly side-stepped
the interesting issue of whether parties can constitutionally
consent to the non-Article III bankruptcy judge exercising Article
III powers, the court put to rest the raging dispute as to whether
Stern should be interpreted narrowly..."

The case is Executive Benefits Insurance Agency v. Arkison,
12-1200, U.S. Supreme Court.


BERNARD L. MADOFF: New Bid to Appeal Good-Faith Defenses
--------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Irving Picard, the trustee for Bernard L. Madoff
Investment Securities LLC, is mounting another challenge to court
rulings that severely constrain his ability to recover money for
victims of the Ponzi scheme.

According to the report, Picard wants the U.S. Court of Appeals in
Manhattan to review decisions by U.S. District Judge Jed Rakoff,
who won't let the trustee sue some recipients of stolen money
unless he can prove in substance that they actually knew Madoff
was running a fraud.  Picard has already asked Judge Rakoff to let
him appeal from the judge's April 28 ruling, which made it
difficult, if not impossible, to recover money from investors who
got indirect payments from the scheme, the report related.

Picard request to Judge Rakoff for appeal was made as part of In
re Bernard L. Madoff Investment Securities LLC, 12-mc-00115, U.S.
District Court, Southern District of New York (Manhattan).

                     About Bernard L. Madoff

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

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

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

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

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

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

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


BREVITY VENTURES: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Brevity Ventures Inc.
           fka Brevity Ventures LLC
        3500 West Oliver Avenue, Suite 300
        Burbank, CA 91505

Case No.: 14-11468

Chapter 11 Petition Date: June 12, 2014

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

Debtor's Counsel: Matthew P. Ward, Esq.
                  WOMBLE CARLYLE SANDRIDGE & RICE, LLP
                  222 Delaware Avenue, Suite 1501
                  Wilmington, DE 19801
                  Tel: 302-252-4338
                  Fax: 302-661-7711
                  Email: maward@wcsr.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Kevin Norris, president and chief
executive officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/deb14-11468.pdf


BROOKSTONE HOLDINGS: New Owner to Keep Almost All Stores Open
-------------------------------------------------------------
Sara Randazzo, writing for The Wall Street Journal, reported that
Sailing Innovation US Inc. -- a collaboration between Chinese
investment firm Sailing Capital Overseas Investment Fund LP and
Chinese conglomerate Sanpower Group -- that won an auction to buy
Brookstone Holdings Corp. out of bankruptcy plans to keep nearly
all of the specialty retailer's 240 stores open despite earlier
indications that it could close as many as 25 locations, an
attorney for Brookstone told a bankruptcy judge.

According to the report, Sailing's bid allowed the consortium to
close as many as 25 stores but after discussions with landlords,
that number has dropped to just one or two, the lawyer told the
judge.

                    About Brookstone Holdings

Brookstone Holdings Corp. and its affiliated debtors on April 3,
2013, filed for relief under Chapter 11 (Bankr. D. Del. Lead Case
No. 14-10752) with a plan to sell its business to another
retailer.

Specialty retailer Brookstone operated 242 retail stores across 40
states and Puerto Rico as of Feb. 1, 2014.  Of those stores, 195
are generally located near "center court" in America's top
retail centers and 47 are located in airports.  Brookstone
also operates an e-commerce business that includes the Brookstone
catalog and http://www.Brookstone.com/

An affiliate of Spencer Spirit Holdings Inc., the parent of gift-
shop chain Spencer's, has signed a deal to pay $147 million in
exchange for 100% of the reorganized debtor's equity, absent
higher and better offers from other parties.  As of Dec. 31, 2013,
Spencer operated 644 stores in 49 states and Canada.

As of the bankruptcy filing, the Debtors owe more than $50 million
on a senior secured prepetition credit facility ($34.1 million on
a revolver, $12.3 million on a term loan and $4.7 million on
account of letters of credit), and $137.3 million to holders of
junior notes.  The Debtors estimate that their unsecured debt is
between $75 million and $85 million.

The agreement with Spencer contemplates that Brookstone,
headquartered in New Hampshire, will continue to operate its mall
and airport stores, catalog, website, and wholesale channels,
under the Brookstone brand with current employees remaining at
their respective locations.

The Debtors have tapped K&L Gates LLP and Landis Rath & Cobb LLP
as attorneys, Deloitte Financial Advisory Services LLP as their
financial advisors, Jefferies LLC as their investment banker, and
Kurtzman Carson Consultants as claims agent.

The DIP lenders are represented by Stroock & Stroock & Lavan LLP
and Young Conaway Stargatt & Taylor LLP.


CAESARS ENTERTAINMENT: Redefines Itself, Still Has Debts
--------------------------------------------------------
Stephen J. Lubben, writing for The New York Times' DealBook,
reported that Caesars Entertainment is trying to sell its assets
away while retaining something for shareholders, although it still
faces mountains of debts.

According to the report, Caesars has sold some casinos to Caesars
Growth Partners, an affiliated company that was created only last
year.  It has bought back some debt at a discount to the face
value, refinanced other debt and, most interestingly, sold a small
piece of its operating company because -- according to the
Caesars' interpretation -- that would remove the parent company's
obligation on Caesars' second lien debt, the DealBook said.

                    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.

Caesars Entertainment reported a net loss of $2.93 billion in
2013, as compared with a net loss of $1.50 billion in 2012.  The
Company's balance sheet at March 31, 2014, showed $24.37 billion
in total assets, $26.65 billion in total liabilities and a $2.27
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 April 10, 2014, edition of the TCR, Standard & Poor's
Ratings Services lowered its corporate credit ratings on Las
Vegas-based Caesars Entertainment Corp. (CEC) and wholly owned
subsidiaries, Caesars Entertainment Operating Co. (CEOC) and
Caesars Entertainment Resort Properties (CERP), as well
as the indirectly majority-owned Chester Downs and Marina, to
'CCC-' from 'CCC+'.  The downgrade reflects S&P's expectation that
Caesars' capital structure is unsustainable, and the amount of
cash the company will burn in 2014 and 2015 creates conditions
under which S&P believes a restructuring of some form is
increasingly likely over the near term absent an unanticipated
significantly favorable change in operating performance.


CBM ASIA: Gets Breach Notices From Ephindo in Kutai West Contract
-----------------------------------------------------------------
CBM Asia Development Corp. on June 12 disclosed that it has
received breach notices from Ephindo International CBM Holding
Inc. under its participation agreement dated January 17, 2007, as
amended and shareholders' agreement dated April 16, 2009 governing
the Company's participating interest in the Kutai West production
sharing contract located in the Kutai Basin of East Kalimantan,
Indonesia.  The declared breaches arise from the non-payment of
two cash calls totaling US$125,430 due from the Company in March
and April.  The Company has 30 days from the date of receipt of
the breach notices (being June 9, 2014) to rectify the breaches,
failing which the Company's interest in the Kutai West PSC may be
forfeited.

The Company further announces the resignation of James Hurren as
Chief Financial Officer.  Mr. Hurren has agreed to continue with
the Company in a consulting role to assist in the completion of
the Company's outstanding audited financial statements for the
year ended December 31, 2013, and unaudited financial statements
for Q1 2014 pending the Company's appointment of a new CFO.

Donna Moroney has resigned as corporate Secretary.  She and her
company, Wiklow Corporate Services Inc., will continue to provide
services to the Company on a consulting basis.

Further to its news release dated April 16, 2014, the British
Columbia Securities Commission, the Company's principal regulator,
issued a Management Cease Trade Order against the Company's Chief
Executive Officer and Chief Financial Officer on May 1, 2014, as
opposed to a general cease trade order against the Company.  The
MCTO prohibits trading in securities of the Company, either
directly or indirectly, by these individuals.

As summarized in the Company's News Release dated April 16, 2014
this action was expected due to the fact that the Corporation was
unable to file its annual financial statements, Management's
Discussion & Analysis and related Chief Executive Officer and
Chief Financial Officer certificates for its fiscal year-ended
December 31, 2013 before the April 30, 2014 filing deadline.

The Company advises that it was also unable to file its first
quarter unaudited financial statements, Management's Discussion &
Analysis and related Chief Executive Officer and Chief Financial
Officer certificates for the three months ended March 31, 2014 by
the filing deadline of May 30, 2014.

Pursuant to the requirements of Section 4.4 of National Policy 12-
203 - Alternative Information Guidelines the Company reports the
following:

(i) There have been no material changes to the information
contained in the Default Notice and the Company expects to file
the Required Filings and Q1 Required Filings on or before June
30th 2014;

(ii) There have been no failures with respect to the Company
fulfilling its stated intention of satisfying the requirements of
filing the Required Filings and Q1 Required Filings.

(iii) There has not been, nor is there anticipated to be, any
specified default subsequent to the default which is the subject
of the Default Notice; and

(iv) There is no other material information about the affairs of
the Company, except as set out above, that has not otherwise been
reported.

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. is a Canadian-based unconventional gas
company with significant coalbed methane exploration and
development opportunities in Indonesia.  The Company holds various
participating interests in five production sharing contracts 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".


CENGAGE LEARNING: To Pay $68M Bankruptcy Fees To Kirkland, Others
-----------------------------------------------------------------
Law360 reported that textbook publisher Cengage Learning Inc. will
pay more than $67.5 million in fees and expenses to attorneys,
financial advisers and other counselors, including about $17.1
million to Kirkland & Ellis LLP and $12.8 million to Arent Fox
LLP, according to an order filed in New York bankruptcy court.

According to the report, U.S. Bankruptcy Judge Elizabeth S. Strong
granted applications for professional services fees and expenses
filed by 16 law firms, consultants and other professionals during
the period of July 2 through March 31.

                        About Cengage Learning

Stamford, Connecticut-based Cengage Learning --
http://www.cengage.com/-- provides innovative teaching, learning
and research solutions for the academic, professional and library
markets worldwide.  Cengage Learning's brands include
Brooks/Cole, Course Technology, Delmar, Gale, Heinle, South
Western and Wadsworth, among others.  Apax Partners LLP bought
Cengage in 2007 from Thomson Reuters Corp. in a $7.75 billion
transaction.  The acquisition was funded in part with $5.6 billion
in new debt financing.

Cengage Learning Inc. filed a petition for Chapter 11
reorganization (Bankr. E.D.N.Y. Case No. 13-bk-44106) on July 2,
2013, in Brooklyn, New York, after signing an agreement where
holders of $2 billion in first-lien debt agree to support a
reorganization plan.  The plan will eliminate more than $4 billion
of $5.8 billion in debt.

First-lien lenders who signed the so-called plan-support agreement
include funds affiliated with BlackRock Inc., Franklin Mutual
Adviser LLC, KKR & Co. and Oaktree Capital Management LP.  Second-
lien creditors and holders of unsecured notes aren't part of the
agreement.

The Debtors have tapped Kirkland & Ellis LLP's Jonathan S. Henes,
Esq., Christopher J. Marcus, Esq., and Christopher T. Greco, Esq.,
and Ross M. Kwasteniet, Esq., as bankruptcy counsel; Lazard
Freres & CO. LLC as financial advisor; Alvarez & Marsal North
America, LLC, as restructuring advisor; and Donlin, Recano &
Company, Inc., as claims and notice agent.

Arent Fox's Andrew I. Silfen, Esq., represents the statutory
committee of unsecured creditors.

Milbank, Tweed, Hadley & McCloy LLP's Gregory Bray, Esq., and
Lauren Cohen, Esq., represent the ad hoc group of holders of
certain first lien claims.

Davis Polk & Wardwell LLP's Damian S. Sohaible, Esq., and Darren
S. Klein, Esq., represent the agent under the First Lien Credit
Agreement.

Katten Muchin Rosenman LLP's Karen Dine, Esq., and David Crichlow,
Esq., represent the Indenture Trustee for the First Lien
Noteholders.

Akin Gump Strauss Hauer Feld LLP's Ira Dizengoff, Esq., and Ropes
& Gray LLP's Mark R. Somerstein, Esq., argue for CSC Trust Company
of Delaware as Second Lien Trustee.

Loeb & Loeb LLP's Walter H. Curchack, Esq., represents the
Indenture Trustee for the Senior PIK Notes.

Kilpatrick Townsend's Todd Meyers, Esq., represents the Indenture
Trustee for the Senior Unsecured Notes.

Jones Day's Lisa Laukitis, Esq., is counsel to Centerbridge
Partners LP.

Simpson Thacher & Bartlett LLP's Peter Pantaleo, Esq., represents
Apax Partners LP.

Cengage Learning, Inc.'s Amended Joint Plan of Reorganization
became effective as of March 31, 2014, according to a notice filed
with the Bankruptcy Court.  The Amended Plan was confirmed by
Judge Elizabeth S. Stong in an order dated March 14.


CHAMPION INDUSTRIES: Incurs $248,000 Net Loss in Second Quarter
---------------------------------------------------------------
Champion Industries, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $248,495 on $15.03 million of total revenues for the
three months ended April 30, 2014, as compared with a net loss of
$824,616 on $18.04 million of total revenues for the same period
in 2013.

For the six months ended April 30, 2014, the Company incurred a
net loss of $878,678 on $30.45 million of total revenues as
compared with a net loss of $4.36 million on $36.35 million of
total revenues for the same period a year ago.

The Company's balance sheet at April 30, 2014, showed $24.96
million in total assets, $21.50 million in total liabilities and
$3.45 million in total shareholders' equity.

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

                         http://is.gd/2Bnukk

                      About Champion Industries

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

Champion Industries reported net income of $5.71 million for
the year ended Oct. 31, 2013, as compared with a net loss of
$23.31 million for the year ended Oct. 31, 2012.


CHGC INC: Case Summary & 16 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: CHGC, Inc.
        5740 Center Road
        Valley City, OH 44280

Case No.: 14-51525

Chapter 11 Petition Date: June 12, 2014

Court: United States Bankruptcy Court
       Northern District of Ohio (Akron)

Judge: Hon. Alan M. Koschik

Debtor's Counsel: Jonathan P Blakely, Esq.
                  JONATHAN P. BLAKELY, ESQ.
                  P.O. Box 217
                  Middlefield, OH 44062
                  Tel: (440) 339-1201
                  Fax: (440) 632-9091
                  Email: jblakelylaw@windstream.net

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mark Haddad, president.

A list of the Debtor's 16 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ohnb14-51525.pdf


CHINA NATURAL: U.S. Trustee Wants Case Converted to Ch. 7
---------------------------------------------------------
BankruptcyData reported that the U.S. Trustee assigned to the
China Natural Gas case filed with the U.S. Bankruptcy Court a
motion for an order converting the Chapter 11 reorganization to a
Chapter 7 liquidation or, alternatively, dismissing the case.

According to BData, the motion explains, "The Debtor consented to
an order for relief nearly one year ago. During that time, the
Debtor has made little progress in reorganizing its affairs. It
has failed to find a purchaser for its assets and has failed to
file a plan. More fundamentally, the Debtor has failed to
adequately disclose its assets and liabilities to the Court. The
Debtor is part of a larger corporate group with significant assets
and income, but the Debtor shows no income in its monthly
operating reports and has failed to value its interests in related
entities. Because the Debtor is incurring administrative expenses
and appears to be unable to confirm a plan, the Court should
convert the case to one under Chapter 7 of the Bankruptcy Code or
dismiss the case."

The Court will consider the motion on July 1, 2014.

                         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.

China Natural Gas employed Warren Street Global Inc. and
designated J. Gregg Pritchard as chief restructuring officer.  It
employed as bankruptcy counsel Schiff Hardin LLP's Louis T.
DeLucia, Esq., and Alyson M. Fiedler, Esq.

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


COLDWATER CREEK: Committee Wants Exclusive Periods Terminated
-------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Coldwater Creek Inc., et al., asks the Bankruptcy Court
to terminate the Debtors' exclusive plan filing and solicitation
periods.

According to the Committee, the Plan filed by the Debtors on the
first day of the cases contemplated that the claims of the Term
Loan Lenders would be impaired and the Term Loan Lenders (who
agreed to support the Plan) would constitute an impaired accepting
class.

However, things have changed in the past months, the Committee
said.  The DIP Lender and the Prepetition ABL Lender had been paid
in full and it is undisputed that there will be sufficient cash
and other assets in the Debtors' estates to also pay the Term Loan
Lenders in full.

The Committee notes that the interests of general unsecured
creditors must be paramount in the cases and under any plan.
However, the Plan proposed by the Debtors is both patently
unconfirmable and highly prejudicial to the interests of general
unsecured creditors.

                     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. disclosed assets of $721,468,388 plus
undetermined amount and liabilities of $425,475,739 plus
undetermined amount.  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.

The U.S. Trustee for Region Three named seven creditors to serve
on the official committee of unsecured creditors.  Lowenstein
Sandler LLP represents the Committee.


COLDWATER CREEK: Panel Hires Lowenstein Sandler as Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors of Coldwater Creek
Inc. and its debtor-affiliates seek authorization from the U.S.
Bankruptcy Court for the District of Delaware to retain Lowenstein
Sandler LLP as counsel for the Committee, effective Apr. 23, 2014.

The Committee requires Lowenstein Sandler to:

   (a) provide legal advice as necessary with respect to the
       Committee's powers and duties as an official committee
       appointed under section 1102 of the Bankruptcy Code;

   (b) assist the Committee in negotiating favorable terms for
       unsecured creditors with respect to any proposed asset
       purchase agreements for the sale of any of the Debtors'
       assets;

   (c) provide legal advice as necessary with respect to any
       disclosure statement or plan filed in the Chapter 11 Cases,
       and with respect to the process for approving or
       disapproving any such disclosure statement or
       confirming any such plan, as appropriate;

   (d) prepare on behalf of the Committee, as necessary,
       applications, motions, complaints, answers, orders,
       agreements, memoranda of law, and other legal papers;

   (e) appear in Court to present necessary motions, applications,
       and pleadings, and otherwise protect the interests of those
       unsecured creditors who are represented by the Committee;

   (f) review the Debtors' schedules and statements;

   (g) advise the Committee as to the implications of the Debtors'
       activities and motions before this Court;

   (h) provide the Committee with legal advice in relation to the
       Chapter 11 Cases generally; and

   (i) perform such other legal services as may be required and
       that are in the best interests of the Committee, the
       estates, and creditors.

Lowenstein Sandler will be paid at these hourly rates:

       Partners of the Firm               $500-$985
       Senior Counsel and Counsel         $385-$685
       Associates                         $275-$480
       Paralegals and Assistants          $160-$270

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

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

Lowenstein Sandler can be reached at:

       Norman N. Kinel, Esq.
       LOWENSTEIN SANDLER LLP
       1251 Avenue of the America
       New York, NY 10020
       Tel: (646) 414-6878
       Fax: (973) 422-6881
       E-mail: nkinel@lowenstein.com

                      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: Panel Taps Cozen O'Connor as Delaware Counsel
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Coldwater Creek
Inc. and its debtor-affiliates seek authorization from the U.S.
Bankruptcy Court for the District of Delaware to retain Cozen
O'Connor as Delaware counsel for the Committee, effective Apr. 24,
2014.

The Committee seeks to retain Cozen O'Connor because of (i) the
firm's experience and knowledge in the field of creditors' rights
and business reorganizations under chapter 11 of the Bankruptcy
Code, and (ii) its general familiarity with the practice and
procedure before the courts in the District of Delaware.  Cozen
has the necessary background to deal effectively with many of the
potential legal issues and problems that may arise in the context
of these bankruptcy cases.

Cozen O'Connor will be paid at these hourly rates:

       Mark E. Felger, Shareholder        $670
       Simon E. Fraser, Member            $490
       Dawn Abernathy, Paralegal          $240

Cozen O'Connor will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Mark E. Felger, shareholder of Cozen O'Connor, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.

Cozen O'Connor can be reached at:

       Mark E. Felger, Esq.
       COZEN O'CONNOR
       1201 N. Market Street, Suite 1001
       Wilmington, DE 19801
       Tel: 302-295-2087
       E-mail: mfelger@cozen.com

                      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: Creditors' Panel Hires GlassRatner as Advisor
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Coldwater Creek
Inc. and its debtor-affiliates seek authorization from the U.S.
Bankruptcy Court for the District of Delaware to retain
GlassRatner Advisory & Capital Group LLC as financial advisor for
the Committee, effective Apr. 24, 2014.

The Committee requires GlassRatner Advisory to:

   (a) analyze the Debtors' current and historical business
       operations, financial results and pre-and post-petition
       financing arrangements;

   (b) review the Debtors' prior sale process and current
       sale/liquidation process, including regular monitoring of
       any liquidation of any property that the Company
       transferred to any third party;

   (c) analyze the Debtors' operations prior to and after the
       Petition Date, as the Committee deems necessary;

   (d) investigate and analyze the potential for additional
       sources of recovery to the Debtors' estates;

   (e) review the financial aspects of any Disclosure Statement
       and Plan of Reorganization;

   (f) as necessary, develop a liquidation/waterfall analysis and
       valuation based on GlassRatner's evaluation of the
       underlying facts and circumstances;

   (g) negotiate on behalf of the Committee with relevant parties;

   (h) advise the Committee and Counsel on various financial and
       business matters associated with the Debtors;

   (i) address any related financial and business issues, as
       requested by the Committee and Counsel;

   (j) investigate any potential causes of action or fraudulent
       transfers;

   (k) attend meetings of creditors and confer with
       representatives of the Committee, the Debtors and their
       counsel; and

   (l) report to the Committee and Counsel on a regular basis.

GlassRatner Advisory will be paid at these hourly rates:

       James Fox                          $500
       Peter Schaeffer                    $500
       Evan Blum                          $500
       Wojciech Hajduczyk                 $375
       Robert Naidoff                     $375
       Other staff                        $95-$300

The hourly rates are subject to periodic adjustments to reflect
economic and other conditions.  However, GlassRatner Advisory has
agreed to use a maximum blended hourly rate of $425 for this
engagement.

GlassRatner Advisory will also be reimbursed for reasonable out-
of-pocket expenses incurred.  In matters where travel is required,
GlassRatner will bill 50% of its travel time.

Peter Schaeffer, principal of GlassRatner Advisory, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

GlassRatner Advisory can be reached at:

       Peter Schaeffer
       GLASSRATNER ADVISORY & CAPITAL GROUP LLC
       One Grand Central Place
       60 East 42nd St., Suite 1062
       New York, NY 10165
       Tel: (212) 922-2832
       E-mail: pschaeffer@glassratner.com

                      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: Creditors' Panel Wants Exclusivity Terminated
--------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 cases of Coldwater Creek Inc., et al., asks the U.S.
Bankruptcy Court for the District of Delaware to terminate the
Debtors' exclusive plan filing and solicitation periods, arguing
that the turn of events in the case made the Plan proposed by the
Debtors at the outset of their bankruptcy case patently
uncomfirmable and highly prejudicial to the interests of general
unsecured creditors.

The Committee states that "sufficient 'cause' exists for the Court
to terminate the Debtors' Exclusive Periods to permit the
Committee to file its own plan that will eliminate the
inappropriate releases contained in the Debtors' Plan, create a
liquidating trust for the benefit of general unsecured creditors,
and generally protect the rights and interests of such creditors.
Such a plan, proposed and supported by the Committee, is assuredly
more likely to garner a sufficient number and amount of general
unsecured creditor votes and ultimately be confirmed by the Court.
Accordingly, termination of the Debtors' Exclusive Periods is in
the best interests of the Debtors' estates and creditors."

The motion was filed by Mark E. Felger, Esq., and Simon Fraser,
Esq., at Cozen O'connor, in Wilmington, Delaware; and Norman N.
Kinel, Esq., Bruce N. Nathan, Esq., Jason E. Halper, Esq., and
Michael Savetsky, Esq., at Lowenstein Sandler LLP, in New York, on
behalf of the Committee.

                     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.


COMARCO INC: Amends Fiscal 2014 Annual Report to Add Info.
----------------------------------------------------------
Comarco, Inc., filed with the U.S. Securities and Exchange
Commission an amended Form 10-K for the fiscal year ended Jan. 31,
2014, for the purpose of including information that was to be
incorporated by reference from the Company's definitive proxy
statement pursuant to Regulation 14A of the Securities Exchange
Act of 1934, as amended.  The Company said it will not file its
proxy statement within 120 days of its fiscal year ended Jan. 31,
2014, and is therefore amending and restating in their entirety
Items 10, 11, 12, 13 and 14 of Part III of the Report.
A full-text copy of the Form 10-K/A is available for free at:

                         http://is.gd/OTeNPr

                          About Comarco Inc.

Based in Lake Forest, California, Comarco, Inc. (OTC: CMRO)
-- http://www.comarco.com/-- is a provider of innovative,
patented mobile power solutions that can be used to power and
charge notebook computers, mobile phones, and many other
rechargeable mobile devices with a single device.

Comarco reported a net loss of $2.05 million on $4.42 million of
revenue for the year ended Jan. 31, 2014, as compared with a net
loss of $5.59 million on $6.33 million of revenue for the year
ended Jan. 31, 2013.  As of Jan. 31, 2014, the Company had $1.33
million in total assets, $9.06 million in total liabilities and a
$7.72 million total stockholders' deficit.

Squar, Milner, Peterson, Miranda & Williamson, LLP, in Newport
Beach, California, issued a "going concern" qualification on the
consolidated financial statements for the year ended Jan. 31,
2014.  The independent auditors noted that the Company has
suffered recurring losses and negative cash flow from operations,
has negative working capital and faces uncertainties surrounding
the Company's ability to raise additional funds.


COMPASS MINERALS: S&P Affirms 'BB+' CCR; Outlook Stable
-------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB+' corporate
credit rating on U.S.-based Compass Minerals International Inc.
The outlook is stable.

S&P also assigned its 'BB+' issue rating with a '3' recovery,
indicating its expectations of a meaningful 50% to 70% recovery in
a payment default scenario, to the company's proposed $200 million
senior unsecured notes.

"Compass Mineral's financial risk profile has improved benefiting
from increased earnings primarily due to higher volumes of
seasonal highway deicing salt because of the unusually severe and
prolonged 2013-2014 winter season," said Standard & Poor's credit
analyst Funmi Afonja.  "The company's financial profile has also
benefited from moderate debt pay-downs over the past year," said
Ms. Afonja.

Compass Minerals is issuing $200 million in senior unsecured
notes.  The company will use proceeds to refinance existing notes,
pay for capital expenditures for major mine infrastructure
improvement and other repairs.

S&P assess Compass' business risk profile as "fair" and the
financial risk profile as "intermediate.  S&P considers Compass'
liquidity to be adequate

The stable outlook reflects Standard & Poor's Ratings Services'
view that Compass Minerals International Inc. will maintain a
"fair" business risk profile based on the high seasonality and
weather-related volatility of sales of its highway deicing
products (50% of revenues).  S&P acknowledges credit measures such
as debt/EBITDA are likely to remain strong relative to its
"intermediate" financial risk assessment over the next 12 months,
as municipalities replenish inventories of salt and other deicers
after an unusually cold and snowy winter.  However, S&P expects
other core ratios such as FFO/debt and supplementary ratios such
as FOCF to debt to remain consistent with its risk assessment and
current rating.

S&P is unlikely to downgrade Compass in the near term given its
expectation that sales of deicing products will remain strong over
the next 12 months and given the stability of other segment sales
such as specialty fertilizers.  Based on these views, the most
likely downside scenario this year would reflect an unexpected
adverse change in financial policy -- such as large debt-financed
distributions.  Although it is unlikely in 2014, S&P could lower
the rating if the scenario did occur and leverage rises to more
than 4x and FFO to debt falls to less than 30% on a sustained
basis.

An upgrade is unlikely in the near term in view of the company's
"fair" business risk profile, given the seasonality of its salt-
production business; exposure to unpredictable weather patterns
that affect demand for road salt; high mine concentration; and the
inherent cyclicality of its fertilizer business.  However, a
higher rating could occur, over time, if the company were able to
diversify its earnings stream away from dependence on seasonal
salt sales and a single mine.


DBSI INC: Former Prez Says Evidence For $169M Fraud 'Insufficient'
------------------------------------------------------------------
Law360 reported that the former president of bankrupt real estate
firm DBSI Inc. asked an Idaho federal judge to dismiss his
convictions for defrauding investors of $169 million, saying the
evidence used to obtain the guilty verdicts was "simply
insufficient."

According to the report, in a filing in support of his motion to
vacate the convictions, David D. Swenson told U.S. District Judge
B. Lynn Winmill that prosecutors had cited only his presence at
company cash and asset management meetings in order to establish
that he had knowledge of DBSI's long-term financial troubles.

                          About DBSI Inc.

Headquartered in Meridian, Idaho, DBSI Inc. and its affiliates
were engaged in numerous commercial real estate and non-real
estate projects and businesses.  On Nov. 10, 2008, and other
subsequent dates, DBSI and 180 of its affiliates filed for
Chapter 11 protection (Bankr. D. Del. Lead Case No. 08-12687).
DBSI estimated assets and debts between $100 million and
$500 million as of the Chapter 11 filing.

Lawyers at Young Conaway Stargatt & Taylor LLP represent the
Debtors as counsel.  The Official Committee of Unsecured Creditors
tapped Greenberg Traurig, LLP, as its bankruptcy counsel.
Kurtzman Carson Consultants LLC is the Debtors' notice claims and
balloting agent.

Joshua Hochberg, a former head of the Justice Department fraud
unit, served as an Examiner and called the seller and servicer of
fractional interests in commercial real estate an "elaborate shell
game" that "consistently operated at a loss" in his report
released in October 2009.  McKenna Long & Aldridge LLP was counsel
to the Examiner.

On Sept. 11, 2009, the Honorable Peter J. Walsh entered an Order
appointing James R. Zazzali as Chapter 11 trustee for the Debtors'
estates.  On Oct. 26, 2010, the trustee won confirmation of the
Second Amended Joint Chapter 11 Plan of Liquidation for DBSI,
paving the way for it to pay creditors and avoid years of
expensive litigation over its complex web of affiliates.  The
plan, which was declared effective Oct. 29, 2010, was co-proposed
by DBSI's unsecured creditors committee.

Pursuant to the confirmed Chapter 11 plan, the DBSI Real Estate
Liquidating Trust was established as of the effective date and
certain of the Debtors' assets, including the Debtors' ownership
interest in Florissant Market Place was transferred to the RE
Trust.  Mr. Zazzali and Conrad Myers were appointed as the post-
confirmation trustees.  Messrs. Zazzali and Myers are represented
by lawyers at Blank Rime LLP and Gibbons P.C.


DEWEY & LEBOEUF: Trustee Raises New Allegations Against Executives
------------------------------------------------------------------
Sara Randazzo, writing for The Wall Street Journal, reported that
the bankruptcy trustee unwinding defunct law firm Dewey & LeBoeuf
LLP has brought new allegations against two former Dewey
executives in a suit seeking the return of more than $21.8 million
the two allegedly were paid as the law firm "fell deeper and
deeper into insolvency."

According to the report, the amended complaint, filed in U.S.
Bankruptcy Court in Manhattan against Dewey's former executive
director, Stephen DiCarmine, and ex-chief financial officer, Joel
Sanders, comes six months after Dewey trustee Alan Jacobs first
sued the pair.

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


DOLAN CO: Emerges From Chapter 11 Bankruptcy Protection
-------------------------------------------------------
The Dolan Company and its subsidiaries on June 12 disclosed that
they have emerged from chapter 11 only 81 days after voluntarily
filing for bankruptcy protection.  As previously announced, the
United States Bankruptcy Court for the District of Delaware
confirmed the Company's plan of reorganization on June 9, 2014.

Under the plan of reorganization, the Company's secured lenders
are now the owners of The Dolan Company.  Investment funds managed
by Bayside Capital, Inc. are the majority owner.  Bayside Capital
is an affiliate of H.I.G. Capital, a leading global private
investment firm with more than $15 billion of equity capital under
management.

With its successful reorganization, the Company has completed a
comprehensive balance-sheet restructuring with the Company's
secured lenders which significantly improves the Company's capital
structure.  The restructuring also establishes DiscoverReady LLC,
formerly The Dolan Company's e-discovery business, as a separate
and independently managed operating company. DiscoverReady is also
majority owned by investment funds managed by Bayside Capital,
Inc.

In connection with the plan of reorganization, the Court approved
a settlement between the Company and the Official Committee of
Equity Security Holders appointed in the Company's chapter 11
cases.  Pursuant to the settlement, the Company will transfer
approximately $3.2 million composed of cash and a note receivable
to a trust established for the benefit of holders of the Company's
preferred and common stock.  Approximately 20 percent of the
proceeds of the trust subsequently will be distributed pro rata to
holders of The Dolan Company's preferred stock as of June 12,
2014; the balance will be distributed pro rata to holders of The
Dolan Company's common stock as of June 12, 2014.  The Dolan
Company's preferred and common stock has been cancelled.

As expected, the restructuring did not adversely affect the
Company's customers, employees, or vendors.  During the chapter 11
process, the Company provided its usual, high-quality services and
products to customers without interruption and paid employees and
vendors in the ordinary course of business.  The Company will
continue do so now that it has emerged from chapter 11 protection.

The Company thanks its outgoing board of directors, former chief
executive officer James Dolan, former chief operating officer
Scott Pollei, and employees for their tireless efforts through the
restructuring process.

                     About The Dolan Company

Minneapolis, Minn.-based The Dolan Company (OTC:DOLN) and its
subsidiaries provide professional services and business
information to the legal, financial and real estate sectors.

The Dolan Company and several affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Case Nos. 14-10614 to
14-10637) on March 23, 2014.  The Company has said it expects to
emerge from bankruptcy within two months.

Judge Brendan L. Shannon oversees the cases.  Marc Kieselstein,
P.C., Jeffrey D. Pawlitz, Esq., and Joseph M. Graham, Esq., at
Kirkland & Ellis LLP, serve as the Debtors' counsel.  Timothy P.
Cairns, Esq., Laura Davis Jones, Esq., and Michael Seidl, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel.

Kevin Nystrom serves as the Company's chief restructuring officer.
Faegre Baker Daniels LLP serves as the Debtors' special counsel;
Peter J. Solomon Company serves as financial advisors; and
Kurtzman Carson Consultants, LLC, serves s noticing and balloting
agent.  Deloitte Tax LLP serves as tax advisors.  Zolfo Cooper LLC
also serves as advisors.

Dolan listed $236.2 million in total assets and $185.9 million in
total debts at Sept. 30, 2013.  The petitions were signed by Vicki
J. Duncomb, authorized signatory.

Global investment management firm T. Rowe Price Associates, Inc.,
owns nearly 10% of the company's stock, while James Dolan owns
6.8%.

Dolan's e-discovery business, DiscoverReady LLC, did not file a
chapter 11 petition and its operations will not be affected by the
chapter 11 process.

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

The chapter 11 plan contemplates that the secured lenders will
become the owner of DiscoverReady and The Dolan Company upon the
completion of the restructuring process and each business will be
operated as separate and distinct entities.  Investment funds
managed by Bayside Capital, Inc. will become the majority owner of
DiscoverReady and The Dolan Company.  Bayside Capital is an
affiliate of H.I.G. Capital, a global private investment firm with
more than $15 billion of equity capital under management.

The chapter 11 plan process will allow the filing subsidiaries of
the Company to deleverage its capital structure by reducing its
projected secured debt obligations from approximately $170 million
to approximately $50 million.  The RSA also secures support from
the lenders to refinance DiscoverReady's capital structure with a
$10 million unfunded secured revolving facility.  The existing
preferred and common shares will be cancelled and will not receive
a recovery in the chapter 11 plan.  After emergence from
bankruptcy, both The Dolan Company and DiscoverReady LLC will be
privately held companies.

The lenders are to provide a $10 million DIP loan to fund the cash
needs of the Company and DiscoverReady through the reorganization
process.

Bayside Capital is represented in the case by Akin Gump Strauss
Hauer & Feld LLP's Michael S. Stamer, Esq., and Sarah Link
Schultz, Esq.

An Official Committee of Equity Security Holders is represented by
Neil B. Glassman, Esq., GianClaudio Finizio, Esq., and Justin R.
Alberto, Esq., at Bayard, P.A., in Wilmington, Delaware; Robert J.
Stark, Esq., at Brown Rudnick LLP, in New York; and Steven B.
Levine, Esq., at Brown Rudnick LLP, in Boston, Massachusetts.

The Debtors have filed a request to disband the Equity Committee,
given the "hopeless insolvency" of their estates.


DREIER LLP: Case Professional Fees Total $17.7 Million
------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that recovering assets to distribute to victims of the
Marc Dreier Ponzi scheme, in which investors lost more than $400
million according to prosecutors, cost $17.7 million in
professional fees, assuming the bankruptcy judge in New York
approves.

According to the report, Sheila Gowan, the court-appointed
trustee, is asking for no less than $1.15 million based on her
hourly time charges.  The trustee's lawyers from Diamond McCarthy
LLP lodged a fee request for $11 million, the report said.

               About Marc Dreier and Dreier LLP

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

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

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

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

The May 15, 2014, edition of The Troubled Company Reporter said
the Hon. Stuart M. Bernstein of the U.S. Bankruptcy Court for the
Southern District of New York confirmed the second amended Chapter
11 plan of liquidation filed by Sheila M. Gowan, the Chapter 11
trustee for Dreier LLP, and the Official Committee of Unsecured
Creditors.


DUTCH MINING: Files for Liquidation in Georgia Bankruptcy Court
---------------------------------------------------------------
Dutch Gold Resources, Inc. on June 12 disclosed that its
subsidiary, Dutch Mining LLC has filed for liquidation in the
United States Bankruptcy Court in the Northern District of
Georgia.  There should no impact on the operations of Dutch Gold
Resources, Inc., except that its' balance sheet should be much
improved at the conclusion of the liquidation of the defunct
subsidiary, to the extent of the debt extinguishment that is being
sought.

The likely outcome will be that the Company could reduce its
corporate indebtedness by approximately $3,500,000, positively
impacting both the balance sheet and profit & loss statement by Q3
2014.

In addition to the Dutch Mining LLC liquidation, the Company has
seen some success in settling its remaining corporate debt.  It
has settled approximately $150,000 of indebtedness at an average
of twenty cents on the dollar.  The Company believes that there
are additional opportunities to resolve the indebtedness that
remains after the completion of the Chapter 7 proceeding of its
subsidiary.

"These actions are intended to improve the Dutch Gold balance
sheet, which may have the impact of lowering the Company's cost of
capital in the future", said Daniel Hollis, CEO.  "This is a
positive development for the Company.  We have identified
financial re-engineering as a major goal for Q2 2014 and we are
pleased to have initiated this action, executing on our plan to
revitalize Dutch Gold Resources, Inc.", he added.

An 8K is being filed with the Securities and Exchange Commission
regarding this action.


                      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.


EMMAUS EVANGELICAL: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Emmaus Evangelical Church, School, and Child Care
        Not for Profit
        2818 N 23rd Street
        Milwaukee, WI 53206

Case No.: 14-27288

Chapter 11 Petition Date: June 6, 2014

Court: United States Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Judge: Hon. Pamela Pepper

Debtor's Counsel: William H. Green, Esq.
                  GREEN & KAPSOS LAW OFFICES, LLC
                  3216 South 92nd Street, Ste. 201
                  Milwaukee, WI 53227
                  Tel: 414-543-5369
                  Fax: 414-543-1164
                  Email: greenkapsos@gmail.com

Total Assets: $1.18 million

Total Liabilities: $1.57 million

The petition was signed by Marcia L. Hamiel-Goins, treasurer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/wieb14-27288.pdf


EMANUEL COHEN: Section 341(a) Meeting Set on July 11
----------------------------------------------------
A meeting of creditors in the bankruptcy cases of Emanuel L.
Cohen, et al., will be held on July 11, 2014, at 10:30 a.m. at
1515 N Flagler Dr Room 870, West Palm Beach.

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

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

Emanuel L Cohen, D.I.T. Inc., and Salon's Best, Inc., filed
Chapter 11 bankruptcy petitions (Bankr. S.D. Fla. Lead Case No.
14-23125) at West Palm Beach, Florida, on June 6, 2014.  D.I.T.
and Salon's Best disclosed $12 million in assets and debt.
Kenneth S. Rappaport, Esq., at Rappaport Osborne & Rappaport, PL,
in Boca Raton, Florida, serves as counsel to the Debtors.


ENERGY FUTURE: Hires Sidney Austin as Corporate Counsel
-------------------------------------------------------
Energy Future Holdings Corp., and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Sidney Austin LLP as special counsel for
certain corporate and litigation matters, nunc pro tunc to Apr.
29, 2014 petition date.

The Debtors require Sidley Austin to represent them in legal
matters as they may request and determine are necessary from time
to time on a go-forward basis.

Sidley Austin will be paid at these hourly rates:

       Jim Conlan            $1,150
       Larry Nyhan           $1,150
       Kevin Lantry          $1,100
       Paul Caruso           $925
       Matthew Clemente      $925
       Attorney              $425-$1,175
       Paraprofessionals     $110-$375

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

During the one-year period prior to the petition date, Sidney
Austin received $16,250,000 from the Debtors for services rendered
in connection with the matters other than the EPA Matters.

During the one-year period prior to the petition date, Sidley
Austin received from the Debtors payments totaling $2,151,869 for
services rendered or to be rendered in connection with the EPA
Matters.

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

The Bankruptcy Court for the District of Delaware will hold a
hearing on the application on Jun. 30, 2014, at 9:30 a.m.
Objections were due Jun. 13, 2014.

Sidley Austin can be reached at:

       Paul S. Caruso, Esq.
       SIDNEY AUSTIN LLP
       One South Dearborn
       Chicago, IL 60603
       Tel: +1 (312) 853-7256
       E-mail: pcaruso@sidley.com

            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.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4
billion in book value and total liabilities of $49.7 billion.  The
Debtors have $42 billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as legal advisor, and Centerview Partners, as financial advisor.
The EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.
Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,
Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.


ENERGY FUTURE: Wants to Hire McDermott as Counsel on Energy Deals
-----------------------------------------------------------------
Energy Future Holdings Corp., and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ McDermott Will & Emery LLP as special counsel,
nunc pro tunc to Apr. 29, 2014 petition date.

The Debtors seek entry of the Order authorizing the employment and
retention of McDermott as special counsel to the Debtors with
respect to energy-related transactional matters in accordance with
the terms and conditions set forth in the engagement letter,
effective as of Sept. 24, 2013, between Luminant Energy Company
LLC, Luminant Holding Company LLC and Luminant Generation Company
LLC and McDermott.

In addition to providing counsel with respect to energy-related
transactional matters, McDermott represent the Debtors in
connection with energy-related transactional matters, including,
but not limited to trading issues, fuel transportation and
storage, power plant operations, contract disputes, and
negotiations and claims resolution.

McDermott's Iskender H. Catto's current billing rate is $850 per
hour.

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

The Debtors paid McDermott a total of $700,000 in classic retainer
prior to the petition date.  As of the petition date, McDermott
was paid for all professional services and expenses rendered to
the Debtors prior to the petition date and the remaining amount of
the retainer was approximately $37,823.19.

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

The Bankruptcy Court for the District of Delaware will hold a
hearing on the application on Jun. 30, 2014, at 9:30 a.m.
Objections were due Jun. 13, 2014.

McDermott can be reached at:

       Iskender H. Catto, Esq.
       MCDERMOTT WILL & EMERY LLP
       340 Madison Avenue
       New York, NY 10173
       Tel: +1 (212) 547-5505
       Fax: +1 (212) 547-5444

            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.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4
billion in book value and total liabilities of $49.7 billion.  The
Debtors have $42 billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as legal advisor, and Centerview Partners, as financial advisor.
The EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.
Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,
Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.


ENERGY FUTURE: Hires Epiq as Administrative Advisor
---------------------------------------------------
Energy Future Holdings Corp., and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Epiq Bankruptcy Solutions, LLC as the
administrative advisor for the Debtors, nunc pro tunc to Apr. 29,
2014 petition date.

The Debtors seek to retain Epiq to provide, among other things,
the following bankruptcy administrative services, if and to the
extent the Debtors request:

   (a) balloting and tabulation services in connection with the
       solicitation process for any prepackaged or prearranged
       chapter 11 plan, including:

       -- consulting regarding timing issues, voting and
          tabulation procedures, and documents needed for the
          vote, and reviewing appropriate sections of the
          disclosure statement, plan, and ballots;

       -- assisting with obtaining information regarding members
          of voting classes, including lists of holders of bonds
          from the Depository Trust Corporation, lenders, and
          other entities;

       -- coordinating distribution of solicitation documents;

       -- responding to requests for documents from parties in
          interest, including lenders, brokerage firm and bank
          back-offices, and institutional holders;

       -- responding to telephone inquiries from lenders,
          bondholders, and nominees regarding the disclosure
          statement and the voting procedures;

       -- establishing a website for posting solicitation
          documents;

       -- receiving, examining, and date-stamping all ballots and
          master ballots cast by voting parties; and

       -- tabulating all ballots and master ballots received, and
          preparing a certification for filing with the court;

   (b) assisting with certain administrative tasks in the
       preparation for bankruptcy, including the preparation of
       the creditor matrix, first day filings, schedules of assets
       and liabilities, and statements of financial affairs,
       including:

       -- coordinating with the Debtors and their advisors
          regarding the data collection process, requirements,
          timelines, and deliverables;

       -- creating and maintaining databases for maintenance and
          formatting of necessary data, and providing data entry
          and quality assurance assistance as needed;

   (c) providing such other claims processing, noticing,
       solicitation, balloting, and administrative services
       described in the Engagement Letter, but not included in
       the Section 156(c) Application, as may be requested from
       time to time by the Debtors.

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

Prior to the petition date, the Debtors paid Epiq a total of
$885,971 relating to services provided to the Debtors including a
retainer in the amount of $100,000, of which $47,972 remains
unapplied as of the petition date.  Epiq seeks to hold the
remaining retainer amount under the Engagement Letter during the
cases as security for the payment of fees and expenses incurred
under the Engagement Letter.

James Katchadurian, executive vice president for Bankruptcy
Services at Epiq, assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not represent any interest adverse
to the Debtors and their estates.

The Bankruptcy Court for the District of Delaware will hold a
hearing on the application on Jun. 30, 2014, at 9:30 a.m.
Objections were due Jun. 13, 2014.

Epiq can be reached at:

       James Katchadurian
       EPIQ BANKRUPTCY SOLUTIONS, LLC
       88 Pine Street, 3rd Floor
       New York, NY 10005
       Tel: (646) 282-2549
       E-mail: jkatchadurian@epiqsystems.com

            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.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4
billion in book value and total liabilities of $49.7 billion.  The
Debtors have $42 billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as legal advisor, and Centerview Partners, as financial advisor.
The EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.
Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,
Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.


ENERGY FUTURE: Taps Gibson Dunn as Special Counsel
--------------------------------------------------
Energy Future Holdings Corp., and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Gibson, Dunn & Crutcher LLP as special counsel,
nunc pro tunc to Apr. 29, 2014 petition date.

The Debtors seek the authority to employ Gibson Dunn to represent
the Debtors in legal, non-bankruptcy matters as the Debtors may
request, including:

   (a) corporate matters;

   (b) public policy matters; and

   (c) litigation matters, including several active matters that
       are in various stages of litigation.

With respect to corporate matters, Gibson Dunn advises the Debtors
regarding bank and private financings, securities and other
capital markets transactions, mergers, acquisitions, dispositions,
joint ventures, Securities and Exchange Commission matters,
corporate governance, and general corporate matters. Additionally,
Gibson Dunn advises and counsels the Debtors regarding certain
public policy matters. Furthermore, Gibson Dunn also represents
the Debtors in litigation matters, seven of which are currently
pending.

Gibson Dunn will be paid at these hourly rates:

       Partners                    $760-$1140
       Of Counsel                  $690-$925
       Associates                  $435-$725
       Paraprofessionals           $355-$390
       Robert Little               $955
       James Ho                    $885
       William Dawson              $1,030
       Michael Raiff               $950
       Ronald Kirk                 $925

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

A total of $1,000,000 was paid in advance by the Debtors prior to
the Petition Date to Gibson Dunn as retainer.  As of the petition
date, the Debtors paid Gibson Dunn for all professional services
and expenses rendered to the Debtors prior to the petition date,
and the remaining amount of the retainer was approximately
$350,266.81.

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

The Bankruptcy Court for the District of Delaware will hold a
hearing on the application on Jun. 30, 2014, at 9:30 a.m.
Objections were due Jun. 13, 2014.

Gibson Dunn can be reached at:

       Robert B. Little, Esq.
       GIBSON, DUNN & CRUTCHER LLP
       2100 McKinney Avenue, Suite 1100
       Dallas, TX 75201-6912
       Tel: +1 (214) 698-3260
       Fax: +1 (214) 571-2924
       E-mail: rlittle@gibsondunn.com

            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.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4
billion in book value and total liabilities of $49.7 billion.  The
Debtors have $42 billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as legal advisor, and Centerview Partners, as financial advisor.
The EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S.
Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq.,
Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.


ENVISION HEALTHCARE: S&P Assigns 'B' Rating to $650MM Unsec. Notes
------------------------------------------------------------------
Standard & Poor's Rating Services assigned a 'B' issue-level
rating and a '6' recovery rating to Envision Healthcare Corp.'s
proposed $650 million unsecured notes due 2022.  The '6' recovery
rating on the notes reflects S&P's expectation of negligible
recovery (0%-10%) in the event of a default.

The company will use proceeds of the transaction together with
available cash to redeem in full the company's existing senior
unsecured notes due 2019.

The 'BB-' corporate credit rating is unchanged.  S&P categorizes
the business risk profile as "fair" based on the company's high
concentration in emergency department staffing (which S&P
estimates represents 40% of the company's revenue), its operations
in highly competitive markets, and its relatively low EBITDA
margins compared with other rated healthcare facility and service
providers.  These risks are partially offset by greater diversity
and scale from its two businesses as well as S&P's expectation of
double-digit organic growth.  S&P's financial risk profile
assessment on the company is "aggressive", which reflects the
company's ownership by financial sponsors and S&P's expectation
that the company's growth strategy will likely prevent sustained
deleveraging below 4x.

RATINGS LIST

Envision Healthcare Corp.
Corporate credit rating            BB-/Stable/--

New Rating
Envision Healthcare Corp.
$650M unsecured notes due 2022     B
  Recovery Rating                   6


EWGS INTERMEDIARY: Gets Nod For Ch. 11 Disclosure Statement
-----------------------------------------------------------
Law360 reported that a Delaware bankruptcy judge blessed the
disclosure statement of Edwin Watts Golf Shops LLC, allowing the
equipment retailer's estate to solicit votes for a Chapter 11
liquidation plan that would dole out the remaining proceeds of its
$40 million asset sale.

According to the report, Edwin Watts Golf presented the disclosure
statement on an unopposed basis, having resolved concerns from the
U.S. Trustee's Office, lenders and the official committee of
unsecured creditors, debtors' counsel Domenic E. Pacitti said.
Most of the changes to the original statement and plan focused on
exculpations and releases, Mr. Pacitti told the court at a hearing
in Wilmington, the report related.  U.S. Bankruptcy Judge Mary F.
Walrath signed off on the disclosure statement, noting that she
had no problems with the proposed document, the report said.

Votes on the plan are due July 11, and a confirmation hearing is
scheduled for July 22, the report added.

                       About EWGS Intermediary

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

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

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

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

Hilco Merchant Resources, a unit of Hilco Global, on Dec. 5, 2013,
disclosed that it has completed a $40 million deal to purchase all
the assets of golf retail brand Edwin Watts, in partnership with
GWNE, Inc., an affiliate of Worldwide Golf Shops.  The transaction
was approved by the bankruptcy court and closed on Dec. 5.


FITNESS INTERNATIONAL: S&P Assigns 'B' CCR & Rates New Debt 'B'
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned Irvine, Calif.-based
fitness club operator Fitness International LLC its 'B' corporate
credit rating.  The rating outlook is stable.

At the same time, S&P assigned the company's proposed credit
facility (consisting of a $350 million revolver due 2018, a $150
million term loan A due 2018, and a $1.5 billion term loan B due
2020) its 'B' issue-level rating, with a recovery rating of '3',
indicating S&P's expectation for meaningful recovery (50% to 70%)
for lenders in the event of a payment default.

S&P expects the company to use proceeds to refinance existing
debt, fully repurchase a current owner's equity interests in the
company and a portion of another owner's equity interests, and to
pay for transaction fees and expenses.

The 'B' corporate credit rating on Fitness International reflects
S&P's assessment of the company's business risk profile as "fair"
and its financial risk profile as "highly leveraged."

"We assess Fitness International's business risk profile as fair,
given the company's operations in the highly competitive fitness
club industry, the low barriers to entry in the industry, the
company's high fixed cost base (because of rent and maintenance
expenses for clubs), and the company's exposure to potential
declines in demand during weak economic climates.  Our assessment
also reflects Fitness International's somewhat smaller portion of
revenue that is derived from ancillary services compared with
peers (about 17% compared with about 20% or more for other rated
fitness club operator peers).  We view ancillary services, and
particularly personal training, as an important competitive
advantage since it is high margin and can foster better customer
retention.  Fitness International's good geographic diversity
(operating 629 clubs in the U.S. and Canada as of December 2013)
and its leading market position in several large markets such as
Miami, Philadelphia, Phoenix, and Atlanta help offset the
company's risks," S&P said.

"We assess Fitness International's financial risk profile as
highly leveraged, given our expectation for adjusted leverage to
remain high, in the low- to mid-5x area, and for adjusted funds
from operations (FFO) to debt to remain at about 12% through 2015.
Our credit measures are adjusted for the impact of operating
leases, which results in a meaningful addition to both funded debt
balances and EBITDA. We expect adjusted EBITDA coverage of
interest to remain good, at about 3x through 2015," S&P added.


FL 6801 SPIRITS: $5-Mil. DIP Financing Has Interim Approval
-----------------------------------------------------------
Judge Shelley C. Chapman entered an interim order authorizing FL
6801 Spirits LLC and its debtor-affiliates to access $500,000 of
the $5,000,000 DIP financing package offered by PAMI ALI LLC.

The Court also authorizes the Debtors to use cash collateral in
accordance with a budget.  The final hearing to consider approval
of the entire DIP loan package is slated for June 25, 2014 at
10:00 a.m. (E.T.).  Objections are due June 18.

PAMI ALI is already owed $1.7 million on a secured loan provided
prepetition.  The Debtors also have $15.5 million in outstanding
unsecured obligations.

PAMI ALI has agreed to provide financing to the FL Debtors solely
to effectuate the proposed sale of the assets and to administer
these cases for the benefit of the Debtors' and, ultimately, the
Lehman Brothers estates.

The salient terms of the DIP agreement with PAMI are:

  -- Interest accrues on amounts borrowed under the DIP Facility
at a per annum rate equal to the Prime Rate plus 0.5%.

  -- PAMI will receive liens upon all of the Debtors' assets and
superpriority administrative expense claims, subject to a carve-
out of $50,000 for U.S. trustee and clerk of court fees, and
$100,000 in professional fees.

  -- The DIP facility will mature May 30, 2015.

  -- PAMI will receive adequate protection for the use of cash
collateral in the form of replacement liens.

A copy of the Interim DIP Order is available for free at:

     http://bankrupt.com/misc/FL_6801_Interim_DIP_Order.pdf

A copy of the affidavit in support of the petitions is available
for free at:

     http://bankrupt.com/misc/FL_6801_1st_Day_Affidavit.pdf

                        First Day Motions

The Debtors have received interim or final approval of other
first-day pleadings.

The Debtors have obtained a 30-day extension until July 15, 2014,
of the deadline to file their schedules of assets and liabilities
and statement of financial affairs.

The Debtors have also obtained an order, pursuant to Section
105(a) of the Bankruptcy Code, that confirms the application of
two key protections afforded to the Debtors under the Bankruptcy
Code: (a) the automatic stay provisions of Section 362 of the
Bankruptcy Code; and (b) the anti-termination and anti-
modification provisions of Section 365 of the Bankruptcy Code, to
ensure continued performance by Canyon Ranch entities and other
parties-in-interests during the Chapter 11 cases.

                       About FL 6801 Spirits

FL 6801 Spirits LLC, a wholly owned subsidiary of Lehman Brothers
Holdings Inc. and three of its wholly owned subsidiaries filed
voluntary Chapter 11 petitions, seeking bankruptcy protection for
their condominium hotel property in Miami Beach.

FL Spirits' Canyon Ranch Living Hotel and Spa is a luxury full-
service, ocean front condominium hotel located at the site of the
old Carillon Hotel in Miami Beach, Florida.  The current operator
of the hotel, Canyon Ranch Living, is not a debtor, and operations
at the property are expected to continue without interruption.

FL Spirits and the three affiliates companies have sought joint
administration, with pleadings to be maintained at FL 6801's case
docket (Bankr. S.D.N.Y. Lead Case No. 14-11691).

FL Spirits is pursuing a sale process for the hotel property under
11 U.S.C. Sec. 363 where 360 Miami Hotel & Spa LLC will be the
stalking horse bidder.  The purchaser will acquire the hotel
lot (including the spa) and 13 condominium units for $12 million,
absent higher and better offers.

FL Spirits has tapped Togut, Segal & Segal LLP as general
bankruptcy counsel, Shutts & Bowen LLP as special real estate
counsel, CBRE, Inc., as real estate broker, and Prime Clerk as
claims and notice agent.

Upon a successful closing of the transaction, the project will be
managed by the Enchantment Group, an operator of award-winning
resorts and destination spas, including Mii amo, a destination spa
at Enchantment Resort.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Lehman's Chapter 11 plan became
effective on March 6, 2012.


FL 6801 SPIRITS: June 25 Hearing on 360 Miami-Led Sale Process
--------------------------------------------------------------
FL 6801 Spirits LLC and its debtor-affiliates are slated to seek
approval at a hearing on June 25, 2014, at 10:00 a.m. of proposed
procedures where 360 Miami Hotel & Spa LLC will open the auction
for their Miami Beach hotel property with a $12 million offer.

Objections to the proposed bidding and auction procedures are due
June 18, 2014 at 4:00 p.m., according to the scheduling order
singed by Judge Shelley C. Chapman.

CBRE, Inc., the broker, implement a robust process to market the
property prepetition.  After three rounds of bidding, a $15
million offer from SMGW Hotel and Spa, LLC ("Shamrock") was the
highest offer, but Shamrock in February 2014 terminated the sale
agreement following a litigation filed by unit owners.

The Debtors are now seeking approval from the bankruptcy court to
proceed with a sale process under Sec. 363 of the Bankruptcy Code
and select 360 Miami Hotel and Spa as stalking horse bidder.

360 Miami is an affiliate of 360 VOX LLC, the owner and manager of
a portfolio of award-winning hotels and spas, including the
Enchantment Resort in Sedona, Arizona.

Notwithstanding the marketing efforts prepetition, the proposed
sale and 360 Miami's $12 million offer will be tested by an
additional solicitation process and auction at which higher or
better offers will be considered.  The Debtors propose a bid
deadline that's 45 days following entry of the bidding procedures
order.  An auction will be held if qualified bids are received by
the deadline.

The purchase agreement contemplates that pending receipt of
Bankruptcy Court approval of the proposed sale of the property
will be operated in the ordinary course as to not cause disruption
to the unit owners and guests and that certain necessary repairs
to the North Tower stucco may be commenced.

The proposed sale is contingent upon a favorable resolution of the
non-monetary claims asserted in the litigations filed by the
condominium associations.  A resolution incorporated into the
approval of the proposed sale is necessary because the association
litigations seek to encumber, define and limit the rights afforded
to the debtor 6801 Central, as owner of the "Hotel Lot" and any
prospective purchaser as successor owner of the Hotel Lot such as
the right to control access to the spa and shared facilities and
to assess charges for the use of certain shared and spa
facilities.

The purchase agreement may be terminated by 360 Miami prior to
closing if any of the following milestones fail to be met:

    * Entry of the bidding procedures order within 30 days of the
sale motion;

    * An auction is held not 50 days following entry of the
bidding procedures order; and

    * Entry of the sale order within the later of (x) two (2)
business days of the auction and (y) a date that is no later than
five business days after resolution of the association
litigations, provided that such date is not later than 120 days
following entry of the bidding procedures order.

Upon 360 Miami's termination of the purchase agreement, the $1.2
million deposit will be returned to 360 Miami and the Debtors will
pay 360 Miami any third-party costs of up to $120,000.  Upon
consummation of an alternative transaction, the Debtors will pay
360 Miami a break-up fee in an amount equal to $320,000, plus the
termination expenses.

                       About FL 6801 Spirits

FL 6801 Spirits LLC, a wholly owned subsidiary of Lehman Brothers
Holdings Inc. and three of its wholly owned subsidiaries filed
voluntary Chapter 11 petitions, seeking bankruptcy protection for
their condominium hotel property in Miami Beach.

FL Spirits' Canyon Ranch Living Hotel and Spa is a luxury full-
service, ocean front condominium hotel located at the site of the
old Carillon Hotel in Miami Beach, Florida.  The current operator
of the hotel, Canyon Ranch Living, is not a debtor, and operations
at the property are expected to continue without interruption.

FL Spirits and the three affiliates companies have sought joint
administration, with pleadings to be maintained at FL 6801's case
docket (Bankr. S.D.N.Y. Lead Case No. 14-11691).

FL Spirits is pursuing a sale process for the hotel property under
11 U.S.C. Sec. 363 where 360 Miami Hotel & Spa LLC will be the
stalking horse bidder.  The purchaser will acquire the hotel
lot (including the spa) and 13 condominium units for $12 million,
absent higher and better offers.

FL Spirits has tapped Togut, Segal & Segal LLP as general
bankruptcy counsel, Shutts & Bowen LLP as special real estate
counsel, CBRE, Inc., as real estate broker, and Prime Clerk as
claims and notice agent.

Upon a successful closing of the transaction, the project will be
managed by the Enchantment Group, an operator of award-winning
resorts and destination spas, including Mii amo, a destination spa
at Enchantment Resort.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Lehman's Chapter 11 plan became
effective on March 6, 2012.


FL 6801 SPIRITS: Taps Prime Clerk as Claims Agent
-------------------------------------------------
FL 6801 Spirits LLC and its debtor-affiliates sought and obtained
approval from the bankruptcy court to employ Prime Clerk LLC as
claims and noticing agent in the chapter 11 cases.

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

                                    Hourly Rate
                                    -----------
     Analyst                           $50
     Technology Consultant            $135
     Consultant                       $145
     Senior Consultant                $175
     Director                         $205

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

                                    Hourly Rate
                                    -----------
     Solicitation Consultant          $175
     Director of Solicitation         $205

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 $25,000.

Michael J. Frishberg, co-president and COO of Prime Clerk,
represents that the firm neither holds nor represents any interest
materially adverse to the Debtors' estates in connection with any
matter on which it would be employed.

The Debtors filed a separate application to employ Prime Clerk as
administrative advisor because the administration of the Chapter
11 cases will require Prime Clerk to perform duties outside the
scope of 28 U.S.C. Sec. 156(c).

The claims agent can be reached at:

         PRIME CLERK LLC
         830 3rd Avenue, 9th Floor
         New York, NY 10022
         Attn: Shai Waisman
         Tel: (212) 257-5450
         E-mail: swaisman@primeclerk.com

                       About FL 6801 Spirits

FL 6801 Spirits LLC, a wholly owned subsidiary of Lehman Brothers
Holdings Inc. and three of its wholly owned subsidiaries filed
voluntary Chapter 11 petitions, seeking bankruptcy protection for
their condominium hotel property in Miami Beach.

FL Spirits' Canyon Ranch Living Hotel and Spa is a luxury full-
service, ocean front condominium hotel located at the site of the
old Carillon Hotel in Miami Beach, Florida.  The current operator
of the hotel, Canyon Ranch Living, is not a debtor, and operations
at the property are expected to continue without interruption.

FL Spirits and the three affiliates companies have sought joint
administration, with pleadings to be maintained at FL 6801's case
docket (Bankr. S.D.N.Y. Lead Case No. 14-11691).

FL Spirits is pursuing a sale process for the hotel property under
11 U.S.C. Sec. 363 where 360 Miami Hotel & Spa LLC will be the
stalking horse bidder.  The purchaser will acquire the hotel
lot (including the spa) and 13 condominium units for $12 million,
absent higher and better offers.

FL Spirits has tapped Togut, Segal & Segal LLP as general
bankruptcy counsel, Shutts & Bowen LLP as special real estate
counsel, CBRE, Inc., as real estate broker, and Prime Clerk as
claims and notice agent.

Upon a successful closing of the transaction, the project will be
managed by the Enchantment Group, an operator of award-winning
resorts and destination spas, including Mii amo, a destination spa
at Enchantment Resort.

Lehman Brothers filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 08-13555) on Sept. 15, 2008.  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Lehman's Chapter 11 plan became
effective on March 6, 2012.


FLORIDA GAMING: Ch. 11 Plan of Liquidation Filed
------------------------------------------------
BankruptcyData reported that Florida Gaming filed with the U.S.
Bankruptcy Court a Joint Chapter 11 Plan of Liquidation and
related Disclosure Statement.

BData, citing the Disclosure Statement, said "the Plan provides
for the following:

   * Priority Tax Claims: Each Holder of an Allowed Priority Tax
     Claim will be entitled to receive on account of the Allowed
     Priority Tax Claim, in full satisfaction, settlement and
     release of and in exchange for the Allowed Priority Tax
     Claim, payment in full.

   * Class 1 - Centers Claims: Each Holder of an Allowed Centers
     Claim will receive payment in full, in cash, of the allowed
     amount of its Centers Claim.

   * Class 2 - Lenders Holdings Claims: The Holders of Lenders
     Holdings Claims received a partial Distribution (or were
     deemed to have received a partial Distribution) in respect of
     the Lenders Holdings Claims pursuant to the Settlement
     Agreement and Sale Order and shall receive no further
     Distribution pursuant to the Plan.

   * Class 3 - Non-Subordinated Holdings Claims: Each Holder of an
     Allowed Non-Subordinated Holdings Claim will receive payment,
     in Cash, of its Pro Rata share of (a) the Initial Holdings
     Distribution Amount; (b) (i) the Centers Claim Remainder, if
     any, and (ii) that portion of the Administrative Claim
     Remainder, if any, distributable to the Estates of the
     Debtors pursuant to section 6 of the Settlement Agreement, in
     each case pursuant to the terms of the Settlement Agreement;
     and (c) the proceeds of Causes of Action; including in
     respect of the D&O Claims (net of Post Confirmation
     Administrative Claims related thereto), and (d) the proceeds
     (net of Post Confirmation Administrative Claims) from the
     liquidation of the balance of the Creditor Trust Assets.

   * Class 4 - Subordinated Holdings Claims: Each Holder of an
     Allowed Subordinated Holdings Claim, will receive payment, in
     Cash, of its Pro Rata share of the Subordinated Holdings
     Claim Remainder, if any.

   * Class 5 - Centers Equity Interests: The Holders of Centers
     Equity Interests receive Distributions on account of the
     Interests pursuant to this Plan from the net proceeds of
     Causes of Action, if any, after payment in full of all
     Allowed Claims in Class 1.

   * Class 6 - Holdings Preferred Equity Interests: Each Holder of
     an Allowed Holdings Preferred Equity Interest will receive
     payment, in Cash, of its Pro Rata share of the Holdings
     Preferred Equity Interest Remainder, if any.

   * Class 7 - Holdings Equity Interests: Each Holder of an
     Allowed Holdings Equity Interest will receive shall receive
     payment, in Cash, of its Pro Rata share of the Holdings
     Equity Interest Remainder, if any."

                    About Florida Gaming

Florida Gaming Centers Inc. filed for Chapter 11 bankruptcy
(Bankr. S.D. Fla. Case No. 13-29597) in Miami on Aug. 19, 2013.
Florida Gaming Centers operates a casino and jai-alai frontons in
Miami.  The Company disclosed debt of $138.3 million and assets of
$180 million in its petition.  Its parent, Florida Gaming Corp.
(FGMG:US), and two other affiliates also sought court protection.

Bankruptcy Judge Robert A. Mark oversees the case.  Luis Salazar,
Esq., Esq., at Salazar Jackson in Miami, represents Florida
Gaming.

ABC Funding, LLC, as Administrative Agent for a consortium of
prepetition lenders, and the prepetition lenders are represented
by Dennis Twomey, Esq., and Andrew F. O'Neill, Esq., at SIDLEY
AUSTIN LLP, in Chicago, Illinois; and Drew M. Dillworth, Esq., and
Marissa D. Kelley, Esq., at Stearns Weaver Miller Weissler
Alhadeff & Sitterson, P.A., in Miami, Florida.  The Prepetition
Lenders are Summit Partners Subordinated Debt Fund IV-A, L.P.,
Summit Partners Subordinated Debt Fund IV-B, L.P., JPMorgan Chase
Bank, N.A., Locust Street Funding LLC, Canyon Value Realization
Fund, L.P., Canyon Value Realization Master Fund, L.P., Canyon
Distressed Opportunity Master Fund, L.P., and Canyon-GRF Master
Fund II, L.P.

Counsel to the Official Joint Committee of Unsecured Creditors are
Glenn D. Moses, Esq., and Paul J. Battista, Esq., at Genovese
Joblove & Battista, P.A., in Miami, Florida.


FLORIDA MULTISPECIALTY: Case Summary & 20 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: South Florida Multispecialty Associates, LLC
        400 Arthur Godfrey Road, Suite 201
        Miami Beach, FL 33140

Case No.: 14-23589

Nature of Business: Health Care

Chapter 11 Petition Date: June 12, 2014

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

Judge: Hon. Laurel M Isicoff

Debtor's Counsel: Leyza F. Blanco, Esq.
                  GRAYROBINSON, P.A.
                  1221 Brickell Ave #1650
                  Miami, FL 33155
                  Tel: 305-416-6880
                  Fax: 305-416-6887
                  Email: leyza.blanco@gray-robinson.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Dr. Miguel Isaac Garcia, managing
director, president and CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb14-23589.pdf


FOREST HOME: Case Summary & 8 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Forest Home Investors, LLC
        N48 W22953 Commerce Centre Dr.
        Pewaukee, WI 53072

Case No.: 14-27301

Nature of Business: Contracting

Chapter 11 Petition Date: June 6, 2014

Court: United States Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Judge: Hon. Michael Halfenger

Debtor's Counsel: Jonathan V. Goodman, Esq.
                  LAW OFFICES OF JONATHAN V. GOODMAN
                  Suite 707, 788 North Jefferson Street
                  Milwaukee, WI 53202-3739
                  Tel: 414-276-6760
                  Fax: 414-287-1199
                  Email: jgoodman@ameritech.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Kenneth P. Servi, member.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/wieb14-27301.pdf


FREEDOM INDUSTRIES: Lawyers Working on Short Rations
----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that lawyers for Freedom Industries Inc. are being paid
less than half and, in one case, less than one-third of their
regular rates, as the result of a June 3 ruling by U.S. Bankruptcy
Judge Ronald G. Pearson in Charleston, West Virginia.

According to the report, in May, Judge Pearson expressed concern
that professionals were running up fees so high there wouldn't be
money to cover environmental remediation.  There was a hearing in
mid-May for Judge Pearson to approve about $2 million in
professional fees incurred from the beginning of the case through
March.  When Judge Pearson handed down his ruling in early June,
he allowed, in the interim, only $300,000 of the $712,500 asked by
McGuireWoods LLP, chief lawyers for the company; $100,000 of the
$329,500 fee request of Babst Calland Clements & Zomnir PC, the
company's environmental lawyers; and $90,000 of the $163,000
requested by MorrisAnderson.

                      About Freedom Industries

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

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

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

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

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

On Feb. 5, 2014, the U.S. Trustee appointed an official committee
of unsecured creditors.  The Committee retained Frost Brown Todd
LLC as counsel.

On March 18, the Bankruptcy Court approved the hiring of Mark
Welch at MorrisAnderson in Chicago as Freedom's chief
restructuring officer.


GENERAL GLASS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: General Glass Company, Inc.
           aka General Glass Home Center
           aka General Glass Design Center
        5797 MacCorkle Avenue S.E.
        P.O. Box 4406
        Charleston, WV 25364

Case No.: 14-20299

Chapter 11 Petition Date: June 10, 2014

Court: United States Bankruptcy Court
       Southern District of West Virginia (Charleston)

Judge: Hon. Ronald G. Pearson

Debtor's Counsel: Christopher S. Smith, Esq.
                  HOYER, HOYER & SMITH, PLLC
                  22 Capitol Street
                  Charleston, WV 25301
                  Tel: 344-9821
                  Fax: 304-344-9519
                  Email: chris@hhsmlaw.com

                     - and -

                  Nicola D. Smith, Esq.
                  HOYER, HOYER, & SMITH, PLLC
                  22 Capitol St.
                  Charleston, WV 25301
                  Tel: 304-344-9821
                  Email: nickyhhsmlaw@gmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Cynthia D. Smith, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/wvsb14-20299.pdf


GENERAL MOTORS: Prosecutors Interview Workers in Recall Probe
-------------------------------------------------------------
Charles Levinson, writing for The Wall Street Journal, reported
that federal prosecutors have begun interviewing current and
former General Motors Co. employees as part of their criminal
probe into the automaker's mishandling of faulty ignitions
switches, according to people familiar with the matter.

According to the report, among those prosecutors have summoned to
voluntary interviews at the U.S. Attorney's Office in downtown
Manhattan are current and former employees singled out by a 325-
page company-commissioned report prepared by attorney Anton
Valukas earlier this month into why it took GM a decade to recall
vehicles with a potentially deadly faulty ignition switch.

Separately, a group of state attorneys general, including New York
Attorney General Eric Schneiderman and Florida Attorney General
Pam Bondi, is investigating the delayed GM recalls, the Journal
said, citing their spokesmen.  More are expected to follow suit,
said James Tierney, the former Maine attorney general and the
director of the National State Attorneys General program at
Columbia University, the Journal added.

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
-- http://www.gm.com/-- is one of the world's largest automakers,
traces its roots back to 1908.

General Motors Co. was formed to acquire the operations of
General Motors Corp. through a sale under 11 U.S.C. Sec. 363
following Old GM's bankruptcy filing.  The U.S. government
provided financing.  The deal was closed July 10, 2009, and Old GM
changed its name to Motors Liquidation Co.

Old GM -- General Motors Corporation -- filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on June 1,
2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  The Debtors tapped Weil, Gotshal & Manges LLP
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel; and Morgan Stanley, Evercore Partners and the Blackstone
Group LLP as financial advisor.  Garden City Group is the claims
and notice agent of the Debtors.

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

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

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


GENERAL MOTORS: Recalls Nearly 600,000 More Vehicles
----------------------------------------------------
Jeff Bennett, writing for The Wall Street Journal, reported that
General Motors Co. announced four new recalls, including one
covering more than 500,000 Chevrolet Camaros for an ignition-
switch issue.

According to the report, the auto maker said the Camaro issue
resembles but isn't linked to the ignition problem with the
Chevrolet Cobalt, which resulted in the recall of 2.6 million
vehicles earlier this year.  The company thus far has pegged its
recall costs at a $1.7 billion, including a $400 million charge
during the current quarter, the Journal said.

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
-- http://www.gm.com/-- is one of the world's largest automakers,
traces its roots back to 1908.

General Motors Co. was formed to acquire the operations of
General Motors Corp. through a sale under 11 U.S.C. Sec. 363
following Old GM's bankruptcy filing.  The U.S. government
provided financing.  The deal was closed July 10, 2009, and Old GM
changed its name to Motors Liquidation Co.

Old GM -- General Motors Corporation -- filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on June 1,
2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  The Debtors tapped Weil, Gotshal & Manges LLP
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel; and Morgan Stanley, Evercore Partners and the Blackstone
Group LLP as financial advisor.  Garden City Group is the claims
and notice agent of the Debtors.

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

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

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


GENEX SERVICES: S&P Withdraws 'B' CCR; Outlook Stable
-----------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew its 'B'
long-term corporate credit rating on Wayne, Pa.-based GENEX
Services Inc. at the company's request.  The outlook prior to the
withdrawal was stable.

S&P affirmed its ratings on GENEX Services on May 16, 2014.  All
outstanding rated debt (assigned July 10th 2013) was paid off in
full.

S&P's stable outlook on GENEX reflects its expectation that the
company will sustain its major client base.  In S&P's opinion,
this will allow for steady revenue growth, resulting in stable
earnings during the next 12 months that will support key credit
metrics.


GENERAL MOTORS: Tug of War Emerges Over Data Recorders
------------------------------------------------------
Mike Spector and Vanessa O'Connell, writing for The Wall Street
Journal, reported that as General Motors Co. braces for a long,
costly legal slog over its liability for defective ignition
switches in 2.6 million cars recalled by the company earlier this
year, a tug of war has emerged over the data in black boxes,
mounted deep inside the cars and known in the auto industry as
"event data recorders."

According to the Journal, GM and lawyers lining up plaintiffs to
sue the company are racing to find black boxes in wrecked cars and
track down old downloads of black-box data.  Some families and
plaintiffs' lawyers said the auto maker has contacted them seeking
possession of black boxes, the Journal said.

Linda Sandler, writing for Bloomberg News, reported that GM's
lawyers have warned the automaker it might face punitive damages
over ignition switch defects if its customers go to trial,
creating an urgent need to settle lawsuits.

Meanwhile, a separate report by the Journal written by Jeff
Bennett said the automaker said its board of directors has
established a new risk committee to oversee the company's policies
and procedures for enforcing standards in areas such as vehicle
safety, product quality and cybersecurity.  Board members Joe
Ashton, Mike Mullen, James Mulva, Thomas Schoewe and Carol
Stephenson agreed to serve on the board committee, a GM spokesman
told Mr. Bennett.

                       About General Motors

With its global headquarters in Detroit, Michigan, General Motors
-- http://www.gm.com/-- is one of the world's largest automakers,
traces its roots back to 1908.

General Motors Co. was formed to acquire the operations of
General Motors Corp. through a sale under 11 U.S.C. Sec. 363
following Old GM's bankruptcy filing.  The U.S. government
provided financing.  The deal was closed July 10, 2009, and Old GM
changed its name to Motors Liquidation Co.

Old GM -- General Motors Corporation -- filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on June 1,
2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  The Debtors tapped Weil, Gotshal & Manges LLP
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel; and Morgan Stanley, Evercore Partners and the Blackstone
Group LLP as financial advisor.  Garden City Group is the claims
and notice agent of the Debtors.

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

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

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


GLOBAL AVIATION: Court Approves Starman Bros as Auctioneer
----------------------------------------------------------
Global Aviation Holdings Inc. and its debtor-affiliates sought and
obtained permission from the Hon. Mary F. Walrath of the U.S.
Bankruptcy Court for the District of Delaware to employ Starman
Bros. Auctions Inc. as auctioneer.  The Debtors determined it was
necessary to engage the services of an auctioneer to assist with
the sale of assets contemplated by the Asset Sale Motion.

The Debtors tapped Starman Bros. as their auctioneer on the terms
set forth in the proposal.  The material economic terms of the
proposal are:

   (a) The Debtors will pay Starman Bros. a commission equal to
       (i) 6-1/2% of the first $6 million in gross proceeds of
       sale; and (ii) 5-1/2% of the gross proceeds of sale in
       excess of $6 million for any sales that occur at a live
       onsite auction or auctions;

   (b) The Debtors will pay Starman Bros. a commission equal to 5%
       on the gross proceeds of any online sale;

   (c) Starman Bros. will charge buyers a 5% buyer's premium on
       the gross proceeds of any sale;

   (d) The Debtors will reimburse Starman Bros., from the proceeds
       of sale, actual costs of advertising up to a maximum amount
       of $30,000 for the costs of advertising the auctions.

Starman Bros. agreed that any and all auctions or sales of the
Sale Property will be conducted and concluded on or before
Jun. 28, 2014.

Steve Starman, president of Starman Bros., assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Starman Bros. can be reached at:

       Steve Starman
       STARMAN BROS. AUCTIONS INC.
       1240 Royal Drive
       Papillion, NE 68046
       Tel: (402) 592-1933
       Fax: (402) 592-2327

                  About Global Aviation Holdings

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

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

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

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

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

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

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

The Deal reported that World Airways Inc. ceased operations on
March 27, 2014, after its bankrupt parent was unable to secure
necessary funding to keep the charter operator airborne.


GLOBAL GEOPHYSICAL: Court Approves KERP
---------------------------------------
BankruptcyData reported that the U.S. Bankruptcy Court approved
Global Geophysical Services' key employee retention program
(KERP), which provides a benefit of 10% to 40% of base salary (the
'Retention Payment') to the 43 non-insider employees employed in a
broad range of areas, including finance, legal, human resources,
information technology, and operations.  The Participants' average
salary is $129,143.  To ensure that non-Participants have the
opportunity to also receive a bonus based upon performance and at
the discretion of senior management, a discretionary pool not to
exceed $250,000 in the aggregate, or $20,000 individually, would
be available for the Chief Executive Officer and the Chief
Financial Officer (working together) to award retention payments
in their discretion to key employees who are neither Insiders (as
defined in Section 101(31) of the Bankruptcy Code) nor
Participants, BData said.

             About Global Geophysical, Autoseis et al.

Global Geophysical Services Inc., a provider of seismic data for
the oil and gas drilling industry, sought bankruptcy protection,
intending to reorganize on its own with additional capital or
explore a sale or other transaction.

Based in Missouri City, Texas, Global Geophysical disclosed assets
of $468.7 million and liabilities totaling $407.3 million as of
Sept. 30, 2013.  Liabilities include $81.8 million on a secured
term loan owing to TPG Specialty Lending Inc. and Tennenbaum
Capital Partners LLC.  TPG is the lenders' agent.  Global also
owes $250 million on two issues of 10.5 percent senior unsecured
notes, with Bank of New York Mellon Trust Co. as indenture
trustee.

Global Geophysical and five affiliates, including Autoseis, Inc.
(lead debtor), filed Chapter 11 petitions in Corpus Christi, Texas
(Bankr. S.D. Tex. Lead Case No. 14-20130) on March 25, 2014.

The Debtors have tapped Luckey McDowell, Esq., at Baker Botts
L.L.P., as general bankruptcy counsel, and Shelby A. Jordan, Esq.,
at Jordan, Hyden, Womble, Culbreth & Holzer, P.C., as local
counsel.  Alvarez & Marsal serves as restructuring advisors, Fox
Rothschild Inc. as financial advisor, and Prime Clerk as claims
and noticing agent.

Judy A. Robbins, the U.S. Trustee for Region 7, has selected seven
creditors to the Official Committee of Unsecured Creditors.


GRIDWAY ENERGY: Platinum Wins Auction; Sale Hearing Today
---------------------------------------------------------
Gridway Energy Holdings Inc., and its debtor-affiliates will
return to the bankruptcy court in Wilmington, Delaware, today,
June 16, 2014, at 11:00 a.m. ET, to seek approval of the sale of
substantially all of their assets.

The Bankruptcy Court on May 14, 2014, entered the Order (A)
Approving Bidding Procedures, Including, Without Limitation,
Expense Reimbursement Provisions, (B) Approving Form and Notice of
Sale, Assumption and Assignment, Including Cure Amount
Calculation, (C) Scheduling Sale Hearing, and (D) Granting Related
Relief.

Bids were due June 4 and on June 10 Gridway commenced an auction
to test the stalking horse bid from Vantage Commodities Financial
Services I, LLC, the Debtors' lender.

At the conclusion of the Auction on June 11, 2014, the Debtors
selected Platinum Partners Value Arbitrage Fund LP as the
successful bidder and Vantage as the back-up bidder.  The Debtors
filed a notice with the Court identifying Platinum as the winning
bidder but did not disclose the financial terms of the successful
bid.

At today's Sale Hearing, the Debtors intend to seek entry of an
order from the Court approving the sale to Platinum as the
Successful Bidder, in accordance with the terms set forth in the
asset purchase agreement (subject to certain modifications
reflected on the record of the Auction) submitted by the Platinum,
and designating Vantage as the Back-up Bidder.

As reported by the Troubled Company Reporter on April 24, Vantage,
the Debtors' prepetition secured lender, agreed to purchase the
Debtors' assets through a credit bid and the assumption of
liabilities, subject to higher and better offers.  The aggregate
consideration to be provided by Vantage will be (a) an amount
equal to (i) $32,039,000, plus (ii) the outstanding amount of all
accounts receivable as of the closing date multiplied by 95% plus
(iii) any amount by which the aggregate amount of cash-backed
collateral as of the closing exceeds $34,039,000 minus (iv) any
amount by which the aggregate amount of the cash-backed collateral
as of closing is less than $34,039,000, plus (b) the assumption of
assumed liabilities.  The purchase price will be payable at
closing as follows: (a) first, by way of dollar for dollar credit
against any postpetition financing provided by Vantage, and (b)
second, in cash, but only to the extend the purchase price is in
excess of the amounts set forth in clause (a).

The deal with Vantage provides that if another party outbids
Vantage at the auction and the Debtors elect to pursue a
transaction with that party, Vantage will receive an expense
reimbursement of up to $500,000.  Vantage is not requesting any
break-up fee or other stalking horse protections other than the
expense reimbursement.

In May 2014, the Debtors won final authority to borrow up to $122
million from Vantage to finance their reorganization proceedings.
The DIP loan repays existing debt and repurchases accounts
receivable sold before bankruptcy.  Secured debt owed to Vantage
and EDFT Trading North America LLC at the outset of bankruptcy
totaled $60 million.

The Debtors also won Court authority, on a final basis, to pay
prepetition claims of certain critical vendors of up to $3.6
million.  The Debtors are authorized to condition the payment to a
critical vendor that it will continue to provide goods and
services to the Debtors on customary trade terms.  If any critical
vendor accepts the payment and thereafter fails to provide the
Debtors with the requisite customary trade terms, any payment may
be deemed an unauthorized postpetition transfer under 11 U.S.C.
Sec. 549 and recoverable by the Debtors in cash or goods, or at
the Debtors' option, applied as a credit against any outstanding
postpetition claims held by that critical vendor.

The State of New Hampshire -- by its attorneys, the Office of the
New Hampshire Attorney General, Joseph A. Foster -- objected to
the proposed bidding and sale procedures, and the assumption and
assignment procedures. The State of New Hampshire said the
procedures and the terms of the proposed sale appear to be
primarily for the benefit of secured creditors, and will be
unnecessarily disadvantageous to thousands of consumers in New
Hampshire and will interfere with the lawful jurisdiction of the
New Hampshire Public Utilities Commission.  It is not clear from
the motion how the Debtors' business will continue to be operated
in accordance with law after the Sale.  Specifically, (a)
customers are entitled by law to certain notices and choices upon
the transfer of their contracts to another electric supplier; (b)
a competitive electric power supplier ("CEPS") doing business in
New Hampshire must be registered with the NHPUC; (c) customer
claims are adjudicated by the NHPUC, which can order relief to
customers and/or assess penalties in cases involving the practice
known as "slamming", or for other regulatory violations.  The
transactions contemplated by the Sale Procedures Motion do not
account for how the Sale will be consummated in compliance with
New Hampshire legal requirements.  In addition, the Sale
contemplates being free and clear of all claims and interests,
which, broadly defined could include certain rights that customers
have. Under applicable law, the customers' rights are not
"interests" of which the contracts may be sold clear, rather, they
are in the nature of defenses to the contracts and include rights
of rescission, refund and recoupment.

The May 14 Bidding Procedures Order required that any bidder must
either be a registered CEPS in New Hampshire, or must become a
registered CEPS in accordance with applicable law prior to the
closing of the sale and/or the assumption of retail electric
customer contracts.  The Order also provided that any bidder must
either be a registered Competitive Natural Gas Supplier ("CNGS")
in New Hampshire, or must become a registered CNGS in accordance
with applicable law prior to the closing of the sale and/or the
assumption of Customer Contracts.  The Debtors and the Buyer also
shall comply with all applicable rules of the New Hampshire Public
Utilities Commission regarding the transfer of service by a CEPS
and/or a CNGS.

Several utility companies and parties-in-interest also have filed
limited objections or reservation of rights with respect to the
proposed assumption and assignment of their contracts with the
Debtors and the proposed cure amounts.  These companies include
Duke Energy Ohio, Inc., KO Transmission Company, New York State
Electric and Gas Corporation, Ohio Power Company, d/b/a AEP Ohio;
The East Ohio Gas Company, d/b/a Dominion East Ohio, Public
Service Electric And Gas Company, Rochester Gas And Electric
Corporation, Texas Central Company, d/b/a American Electric Power
Company and AEP Texas North Company, d/b/a American Electric Power
Company; PJM Interconnection, LLC, PJM Settlement, Inc.;
Midcontinent Independent System Operator, Inc.; Electric
Reliability Council of Texas, Inc.; Foxborough Country Club; and
California Independent System Operator Corporation.

                     About Gridway Energy

Gridway Energy Holdings, Inc., and its affiliates, including
Glacial Energy Holdings -- providers of electricity and natural
gas in markets that have been restructured to permit retail
competition -- sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Lead Case No. 14-10833) on April 10, 2014.

The Debtors have 200,000 electric residential customers and 55,000
gash residential customers across the U.S.  A large portion of the
customers' energy consumption and revenue is generated in the
northeast U.S., Ohio, Illinois and Texas (collectively accounting
for 80% of revenue), with the remaining portion coming from
California and other states.

The Debtors blamed the bankruptcy due to lower revenue brought by
increased market competition, which caused the Debtors to default
on certain of their obligations.  Gridway defaulted on $60 million
of debt.

Prepetition, the Debtors negotiated a stock purchase transaction
with an interested buyer.  But in March 2014, the purchaser
withdrew from the transaction because of the large amount of debt
that the purchaser would become liable through a stock
transaction.

The Debtors are represented by Michael R. Nestor, Esq., Joseph M.
Barry, Esq., and Donald J. Bowman, Jr., Esq., at Young Conaway
Stargatt & Taylor, LLP; and Alan M. Noskow, Esq., and Mark A.
Salzberg, Esq., at Patton Boggs LLP.  They employed Omni
Management Group, LLC, as claims and notice agent.

Gridway Energy estimated assets of $500 million to $1 billion and
debt of more than $1 billion.

The Creditors' Committee is represented by Sharon Levine, Esq.,
and Philip J. Gross, Esq., at Lowenstein Sandler LLP; and
Frederick B. Rosner, Esq., and Julia B. Klein, Esq., at The Rosner
Law Group LLC.

Vantage is represented in the case by Ingrid Bagby, Esq., David E.
Kronenberg, Esq., Kenneth Irvin, Esq., and Karen Dewis, Esq., at
Cadwalader, Wickersham & Taft LLP, and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A.


GRIDWAY ENERGY: U.S. Trustee Balks at Accord With Panel & Lender
----------------------------------------------------------------
At a bankruptcy court hearing today, June 16, the United States
Trustee for Region 3 will challenge the joint request of Gridway
Energy Holdings et al. and the official committee of unsecured
creditors appointed in the cases, for approval of a settlement and
compromise.

According to Roberta DeAngelis, the U.S. Trustee, the proposed
settlement -- which provides a settlement pool of $1.3 million to
$1.5 million or more to be administered by the Committee for the
benefit of an unknown pool of "Eligible Administrative Claims" --
results in disparate treatment of administrative expense creditors
and is not appropriate in the context of a chapter 11 proceeding.

"The Committee intends to distribute the funds pro rata on account
of the allowed Eligible Administrative Claims, while all other
administrative claims will be paid in the ordinary course. As a
result, the Term Sheet provides for disparate treatment of
administrative claims," the U.S. Trustee argued.

In addition, the U.S. Trustee said, it is not clear why the
Committee, instead of the Debtors, will administer a fund for the
benefit of certain administrative creditors, which is a
constituency that the Committee does not represent.  The U.S.
Trustee said it is the Debtors' responsibility to administer the
estate, and to the extent appropriate, pay administrative expense
claims.  The Motion, according to the U.S. Trustee, seeks
authority to abdicate this responsibility to the Committee with
respect to the Eligible Administrative Claims.  Furthermore, the
Motion does not address the exit strategy for this case, although
it appears from the terms of the settlement that a liquidating
plan is unlikely.  The interests of creditors may be better served
by the conversion or dismissal of these cases after the pending
sale closes.

As reported by the Troubled Company Reporter on June 4, 2014, the
Debtors asked the Court to approve the settlement and compromise
with (i) the Committee, (ii) Vantage -- as the Debtors'
prepetition secured lender, postpetition DIP lender and current
stalking horse purchaser of substantially all of the assets of
Gridway, and Negawatt Business Solutions, Inc., and (iii) EDF
Trading North America LLC, as swap counterparty pursuant to an
ISDA agreement.  In connection with the Global Settlement, a fund
of approximately $1.3 million to $1.5 million, or higher,
depending on the proceeds of the sale of the Ziphany and NBS
assets, will be established to fund (i) first, a carve-out for
fees and expenses incurred by the Committee and its professionals;
and (ii) second, settlement of non-ordinary course, colorable
administrative expense claims asserted by creditors based on
postpetition commissions, severance obligations, future compliance
with non-compete provisions, and/or other colorable non-ordinary
course administrative claims unpaid following the Petition Date.

In addition, the Global Settlement contemplates, among other
things, inter alia, (i) mutual releases by and between the
Debtors, Secured Parties, the Committee and the Committee's
members; and (ii) the release of all Avoidance Actions against
unsecured creditors, provided that third party non-estate claims
held by creditors against the Debtors' former chief executive
officer, Gary Mole or other individual non-debtors related to pre-
petition conduct are not being released.

The U.S. Trustee said the rights of the holders of Eligible
Administrative Claims to payment from the fund are first subject
to the fees and expenses of the Committee and its professionals
incurred in administering the settlement fund.  The U.S. Trustee
said the Motion does not provide an estimate of the Eligible
Administrative Claims. No administrative claims bar date has been
set and no such administrative claims appear on the docket.

The Court should deny approval of the Settlement, the U.S. Trustee
said.

On April 24, 2014, the U.S. Trustee appointed five members to the
Creditors Committee:

     1. Mark A. Finley
        6501 Red Hook Plaza
        St. Thomas, VI 00802
        Tel: 617-888-2200

     2. Joel H. Finley
        6501 Red Hook Plaza
        St. Thomas, VI 00802
        Tel: 617-888-2200

     3. Benjamin Esposito
        Ellicott City, MD 21042
        Tel: 443-257-0467

     4. Henk Jonkman
        6 Route Des Basses Masures
        78125 Poigny La Foret
        France
        Tel: +33788184334

     5. Terry L. Hart
        33832 Jefferson Ave.
        Saint Clair Shores, MI 48082
        Tel: 586-530-9183

                     About Gridway Energy

Gridway Energy Holdings, Inc., and its affiliates, including
Glacial Energy Holdings -- providers of electricity and natural
gas in markets that have been restructured to permit retail
competition -- sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Lead Case No. 14-10833) on April 10, 2014.

The Debtors have 200,000 electric residential customers and 55,000
gash residential customers across the U.S.  A large portion of the
customers' energy consumption and revenue is generated in the
northeast U.S., Ohio, Illinois and Texas (collectively accounting
for 80% of revenue), with the remaining portion coming from
California and other states.

The Debtors blamed the bankruptcy due to lower revenue brought by
increased market competition, which caused the Debtors to default
on certain of their obligations.  Gridway defaulted on $60 million
of debt.

Prepetition, the Debtors negotiated a stock purchase transaction
with an interested buyer.  But in March 2014, the purchaser
withdrew from the transaction because of the large amount of debt
that the purchaser would become liable through a stock
transaction.

The Debtors are represented by Michael R. Nestor, Esq., Joseph M.
Barry, Esq., and Donald J. Bowman, Jr., Esq., at Young Conaway
Stargatt & Taylor, LLP; and Alan M. Noskow, Esq., and Mark A.
Salzberg, Esq., at Patton Boggs LLP.  They employed Omni
Management Group, LLC, as claims and notice agent.

Gridway Energy estimated assets of $500 million to $1 billion and
debt of more than $1 billion.

The Creditors' Committee is represented by Sharon Levine, Esq.,
and Philip J. Gross, Esq., at Lowenstein Sandler LLP; and
Frederick B. Rosner, Esq., and Julia B. Klein, Esq., at The Rosner
Law Group LLC.

Vantage is represented in the case by Ingrid Bagby, Esq., David E.
Kronenberg, Esq., Kenneth Irvin, Esq., and Karen Dewis, Esq., at
Cadwalader, Wickersham & Taft LLP, and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A.


GRIDWAY ENERGY: UST Says Incentive Plan Should Be Nixed
-------------------------------------------------------
Roberta A. DeAngelis, the United States Trustee for Region 3,
objected to the request of Gridway Energy Holdings, Inc., and its
affiliates, to assume employment contracts and approve an
incentive plan.

The U.S. Trustee said it objects to the Motion to the extent it
seeks approval of an incentive plan for certain officers because
the Debtors have not satisfied their burden under 11 U.S.C.
Sections 503(b)(1)(A) and 503(c) to demonstrate, inter alia, that
(i) payments under the incentive plan are not retention payments,
(ii) the incentive plan is justified by the facts and
circumstances of these cases, and (iii) the incentive plan
represents the "actual, necessary cost of preserving the
estate[s]."

The Debtors filed the Motion on April 10.  They seek to assume six
employment contracts, each dated as of March 15, 2014, with key
employees of the Debtors, and pay incentive bonus amounts as set
forth in each of the employment contracts.  The U.S. Trustee said
each of the key employees have officer titles and are therefore
presumed to be insiders.

The U.S. Trustee said the employment contracts provide for the
payment of two incentive bonus amounts, which together equal 100%
or more of each officer's salary.  One third of the amount payable
under the Incentive Plan is payable upon entry of a Bankruptcy
Court order approving the sale of substantially all of the
Debtors' assets, or entry of order confirming a plan of
reorganization.  The remaining two-thirds is payable upon the
later to occur of (i) the closing of the sale, or (ii) the
completion of the reorganization under a plan, or the expiration
of an agreement by the Debtors to provide transition services to
the successful bidder.

In the aggregate, the Incentive Plan payments are equal to 100% of
the annual salary of each of the officers, except that that the
Chief Financial Officer and General Counsel will receive an amount
equal to 125% of their annual salary.  If there is a qualifying
bid other than the Stalking Horse, the CFO and General Counsel
will receive an amount equal to 150% of their annual salary.

According to the U.S. Trustee, "The terms of the Incentive Plan
suggest that it is not intended to induce a particular level of
performance by the officers, but instead to induce them to remain
employed until completion of a sale or confirmation of a plan.
Because the payments are triggered merely upon entry of a sale
order and closing of a sale or completion of a transition
services agreement with the buyer, the Debtors have essentially
guaranteed payment of the Incentive Plan amounts to the officers.
Because the Debtors have already filed a bidding procedures motion
with the lender as the proposed stalking horse, a sale appears
imminent."

The U.S. Trustee also pointed out that there are no performance
goals that need to be met by the officers, such as increasing the
sale price. All that is required is a sale of the Debtors' assets.
In the absence of any performance goals or a target sales price,
the Incentive Plan is a retention bonus that must comply with the
requirements of section 503(c)(1).

A hearing on the Debtors' request was set for May 14 but, a review
of the case docket indicates the Court has yet to issue a ruling
on the Motion.

                     About Gridway Energy

Gridway Energy Holdings, Inc., and its affiliates, including
Glacial Energy Holdings -- providers of electricity and natural
gas in markets that have been restructured to permit retail
competition -- sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Lead Case No. 14-10833) on April 10, 2014.

The Debtors have 200,000 electric residential customers and 55,000
gash residential customers across the U.S.  A large portion of the
customers' energy consumption and revenue is generated in the
northeast U.S., Ohio, Illinois and Texas (collectively accounting
for 80% of revenue), with the remaining portion coming from
California and other states.

The Debtors blamed the bankruptcy due to lower revenue brought by
increased market competition, which caused the Debtors to default
on certain of their obligations.  Gridway defaulted on $60 million
of debt.

Prepetition, the Debtors negotiated a stock purchase transaction
with an interested buyer.  But in March 2014, the purchaser
withdrew from the transaction because of the large amount of debt
that the purchaser would become liable through a stock
transaction.

The Debtors are represented by Michael R. Nestor, Esq., Joseph M.
Barry, Esq., and Donald J. Bowman, Jr., Esq., at Young Conaway
Stargatt & Taylor, LLP; and Alan M. Noskow, Esq., and Mark A.
Salzberg, Esq., at Patton Boggs LLP.  They employed Omni
Management Group, LLC, as claims and notice agent.

Gridway Energy estimated assets of $500 million to $1 billion and
debt of more than $1 billion.

The Creditors' Committee is represented by Sharon Levine, Esq.,
and Philip J. Gross, Esq., at Lowenstein Sandler LLP; and
Frederick B. Rosner, Esq., and Julia B. Klein, Esq., at The Rosner
Law Group LLC.

Vantage is represented in the case by Ingrid Bagby, Esq., David E.
Kronenberg, Esq., Kenneth Irvin, Esq., and Karen Dewis, Esq., at
Cadwalader, Wickersham & Taft LLP, and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A.


GRIDWAY ENERGY: Sec. 341 Creditors' Meeting Continued Today
-----------------------------------------------------------
The meeting of creditors in the bankruptcy case of Gridway Energy
Holdings, Inc., et al., was held on May 7, 2014, and continued to
June 16, 2014, at 1:00 p.m.

The meeting will be held at J. Caleb Boggs Federal Building, 844
King St., Room 2112, Wilmington, Delaware.

The meeting of creditors is required under Section 341(a) of the
Bankruptcy Code in all bankruptcy cases.  All creditors are
invited, but not required, to attend.  This meeting of creditors
offers the one opportunity in a bankruptcy proceeding for
creditors to question a responsible office of the Debtor under
oath about the company's financial affairs and operations that
would be of interest to the general body of creditors.

On June 9, 2014, all nine debtors filed separate schedules of
assets and liabilities and statement of financial affairs.  At the
Debtors' behest, the Bankruptcy Judge extended to June 9 the
Debtors' deadline to file their schedules and statements.

In seeking the extension, the Debtors said in papers filed last
month they have limited personnel to assist with the preparation
of the Schedules and SOFAs.  Employee efforts to support the
Debtors' business operations during the initial postpetition
period are critical. The Debtors and their employees were required
to devote substantial time and attention to business operations
during the first weeks of these cases to maximize the value of
their estates.  Moreover, while the Debtors have retained RPA
Advisors, LLC as their financial advisors, RPA was not retained
until after the petition date.  As such, RPA has not yet had
sufficient time in which to work with the Debtors to complete the
Schedules and SOFAs.  In addition, several of the Debtors operate
different accounting systems, and the interconnected nature of the
Debtors' operations require that these systems be cross-checked
against each other to ensure the reporting is accurate and
complete.

                     About Gridway Energy

Gridway Energy Holdings, Inc., and its affiliates, including
Glacial Energy Holdings -- providers of electricity and natural
gas in markets that have been restructured to permit retail
competition -- sought Chapter 11 bankruptcy protection (Bankr. D.
Del. Lead Case No. 14-10833) on April 10, 2014.

The Debtors have 200,000 electric residential customers and 55,000
gash residential customers across the U.S.  A large portion of the
customers' energy consumption and revenue is generated in the
northeast U.S., Ohio, Illinois and Texas (collectively accounting
for 80% of revenue), with the remaining portion coming from
California and other states.

The Debtors blamed the bankruptcy due to lower revenue brought by
increased market competition, which caused the Debtors to default
on certain of their obligations.  Gridway defaulted on $60 million
of debt.

Prepetition, the Debtors negotiated a stock purchase transaction
with an interested buyer.  But in March 2014, the purchaser
withdrew from the transaction because of the large amount of debt
that the purchaser would become liable through a stock
transaction.

The Debtors are represented by Michael R. Nestor, Esq., Joseph M.
Barry, Esq., and Donald J. Bowman, Jr., Esq., at Young Conaway
Stargatt & Taylor, LLP; and Alan M. Noskow, Esq., and Mark A.
Salzberg, Esq., at Patton Boggs LLP.  They employed Omni
Management Group, LLC, as claims and notice agent.

Gridway Energy estimated assets of $500 million to $1 billion and
debt of more than $1 billion.

The Creditors' Committee is represented by Sharon Levine, Esq.,
and Philip J. Gross, Esq., at Lowenstein Sandler LLP; and
Frederick B. Rosner, Esq., and Julia B. Klein, Esq., at The Rosner
Law Group LLC.

Vantage is represented in the case by Ingrid Bagby, Esq., David E.
Kronenberg, Esq., Kenneth Irvin, Esq., and Karen Dewis, Esq., at
Cadwalader, Wickersham & Taft LLP, and Jason M. Madron, Esq., at
Richards, Layton & Finger, P.A.


GSE ENVIRONMENTAL: Court Approves Plan Disclosures
--------------------------------------------------
GSE Environmental, Inc., on June 12 announced that the US
Bankruptcy Court for the District of Delaware has approved its
Disclosure Statement filed in connection with the Company's
proposed Joint Plan of Reorganization.  The Court's approval of
the Disclosure Statement allows the Company to begin the Plan
voting process, leading to a confirmation hearing scheduled for
July 25, 2014 and the Company's expected emergence from bankruptcy
shortly thereafter.  Following the completion of the restructuring
process, GSE will continue to operate as a going concern and will
reduce its funded indebtedness by more than $172 million.

Charles Sorrentino, GSE's Director and Chief Executive Officer
said "GSE is very pleased to have obtained approval of its
Disclosure Statement on June 12.  We are committed to completing
our reorganization as quickly as possible and are targeting
emergence from bankruptcy shortly after our Confirmation Hearing.
Our financial restructuring is critical in positioning us for the
future by providing a significantly improved capital structure.  I
am confident that with the continued support of our dedicated
employees, suppliers, and customers, GSE will emerge from this
reorganization as a stronger, more competitive company."

As previously announced, the Plan is supported by 100% of the
Company's first lien lenders who have agreed to convert all
outstanding first lien debt to equity, leaving the Company
well-positioned for long-term growth as a leading manufacturer and
marketer of geosynthetic lining solutions.

The Plan is subject to confirmation by the Bankruptcy Court.  This
release is not intended as a solicitation for a vote on the Plan.

Parties seeking more information about this announcement may
contact GSE Environmental at (281)230-5843 or
recapitalization@gseworld.com

Documents relating to the Company's filing can be accessed at
http://www.gseworld.com

Kirkland & Ellis LLP is serving as the Company's legal advisor and
Moelis & Company is serving as the Company's financial advisor.
The first lien lenders are represented by Wachtell, Lipton, Rosen
& Katz.

                    About GSE Environmental

GSE Environmental -- http://www.gseworld.com-- is a global
manufacturer and marketer of geosynthetic lining solutions,
products and services used in the containment and management of
solids, liquids and gases for organizations engaged in waste
management, mining, water, wastewater and aquaculture.
Headquartered in Houston, Texas, USA, GSE maintains sales offices
throughout the world and manufacturing facilities in the US,
Chile, Germany, Thailand, China and Egypt.

GSE Environmental, Inc. and its affiliates filed for Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 14-11126) on
May 4, 2014 as part of a restructuring support agreement with
their lenders.  The Debtors are seeking joint administration of
their Chapter 11 cases.

GSE announced an agreement with its lenders to restructure its
balance sheet by converting all of its outstanding first lien debt
to equity, leaving the Company well-positioned for long-term
growth and profitability.

The Company has tapped Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP as counsel, Alvarez & Marsal North America, LLC,
as restructuring advisor, and Moelis & Company, as financial
advisor.  The first lien lenders are represented by Wachtell,
Lipton, Rosen & Katz.  Prime Clerk is the Debtors' claims agent.

Cantor Fitzgerald Securities as agent for a consortium of DIP
lenders is represented by Nathan Z. Plotkin, Esq., at Shipman &
Goodwin LLP, in Hartford, Connecticut.  The DIP Lenders are
represented by Scott K. Charles, Esq., Emily D. Johnson, Esq., and
and Neil K. Chatani, Esq., at Wachtell, Lipton, Rosen & Katz, in
New York.  The local Delaware counsel to the DIP Lenders and the
DIP Agent is Russell C. Silberglied, Esq., at Richards, Layton &
Finger, P.A., in Wilmington, Delaware.

GSE Environmental's non-U.S. subsidiaries are not included in the
U.S. Chapter 11 filings and will continue to operate in the
ordinary course without interruption.


HERTZ CORP: DBRS Confirms 'BB' Issuer Rating, Trend Revised to Neg
------------------------------------------------------------------
DBRS Inc. has confirmed the ratings of Hertz Corporation,
including its Issuer Rating of BB.  The trend on the ratings was
revised to Negative from Stable.  The rating action follows the
Company's recent announcement that it is conducting a thorough
review of its financial records for 2011, 2012 and 2013 following
the discovery of accounting errors.

In a recent SEC filing, Hertz disclosed that, during its 1Q14
closing process, errors were identified related to the
capitalization and depreciation of certain non-fleet assets, the
allowance for doubtful accounts in Brazil, the allowance for
uncollectible amounts with respect to renter obligations on
damaged vehicles, and the restoration obligations at the end of
facility leases.  As a result, the Company will restate its 2011
financial statements.  Given the errors that were discovered, the
Company is conducting a thorough review of the financial records
for 2011, 2012 and 2013.  Additional adjustments to 2012 and 2013
financials may be required depending on the outcome of the
accounting review.

The Negative trend reflects DBRS's concern regarding the material
weaknesses in the Company's internal controls and procedures over
financial reporting and the significant time and cost that will be
required to strengthen these functions.  The Negative trend also
considers that, as the accounting review progresses, additional
accounting issues beyond DBRS's tolerance levels may be found.
DBRS also notes that these issues are occurring at a time when the
Company is advancing the spin-off of its Hertz Equipment Rental
Corporation (HERC), which could potentially distract management
from the core rental car business.  DBRS also continues to monitor
developments for possible consequences of these issues for
capital, funding and liquidity.  Further negative rating actions
could occur should the adjustments be beyond DBRS's expectations
and have a material impact on the Company's credit metrics that
were considered in the current rating level.  Negative rating
pressure could also result from additional control, procedural or
accounting weaknesses being discovered.  Conversely, should the
adjustments be within DBRS's expectations and not have a material
impact on the Company's credit metrics for 2011-2013, and should
no further material weaknesses be discovered, the trend could
return to Stable.

Importantly, DBRS does not see these issues as impacting the
Company's leading global vehicle rental franchise, which is a key
factor in the confirmation of the ratings.  Further, DBRS views
favorably the initial steps taken by Hertz to strengthen its
accounting and finance departments, including the hiring of a new
Chief Accounting Officer and a new head of Sarbanes-Oxley
Compliance.  Moreover, in the SEC filing, Hertz provided
preliminary commentary on 1Q14 performance, which indicated that,
while revenues were up across all three operating segments,
overall financial results were broadly stable year-on-year, as the
costs related to the accounting review and other unusual items
offset the revenue expansion.  For the remainder of 2014, DBRS
sees Hertz as benefiting from favorable industry fundamentals,
including modest pricing gains, good fleet discipline, improved
travel volumes as consumer and business sentiment strengthens, and
still solid residual values for used vehicles as demand continues
to outstrip supply.


HOSTESS BRANDS: 8th Circ. Overturns Rulings On License Transfers
----------------------------------------------------------------
Law360 reported that the Eighth Circuit found that, because a
trademark licensing deal struck by the bankrupt Interstate Brands
Corp., part of which later became Hostess Brands LLC, was mostly
completed by the company, it was not able to be rejected in
bankruptcy courts.

According to the report, the full court reversed an earlier
finding that the company's deal with Lewis Brothers Bakeries
Corp., which gave it two bread brands and the licensing rights to
13 trademarks, including Sun Maid Raisin and Country Wheat bread,
was executory, or incomplete enough for a court to find Interstate
in breach of contract.  The court determined that the earlier
decisions looked at only a portion of the agreement -- the
licensing agreement -- which was only one portion of a larger
agreement to buy the bread brands, according to the decision, the
report related.

The case is Lewis Brothers Bakeries Inc. v. Interstate Brands
Corp., case number 11-1850, in the U.S. Court of Appeals for the
Eighth Circuit.

                        About Hostess Brands

Founded in 1930, Irving, Texas-based Hostess Brands Inc., is known
for iconic brands such as Butternut, Ding Dongs, Dolly Madison,
Drake's, Home Pride, Ho Hos, Hostess, Merita, Nature's Pride,
Twinkies and Wonder.  Hostess has 36 bakeries, 565 distribution
centers and 570 outlets in 49 states.

Hostess filed for Chapter 11 bankruptcy protection early morning
on Jan. 11, 2011 (Bankr. S.D.N.Y. Case Nos. 12-22051 through
12-22056) in White Plains, New York.  Hostess Brands disclosed
assets of $982 million and liabilities of $1.43 billion as of the
Chapter 11 filing.

The bankruptcy filing was made two years after predecessors
Interstate Bakeries Corp. and its affiliates emerged from
bankruptcy (Bankr. W.D. Mo. Case No. 04-45814).

In the new Chapter 11 case, Hostess has hired Jones Day as
bankruptcy counsel; Stinson Morrison Hecker LLP as general
corporate counsel and conflicts counsel; Perella Weinberg Partners
LP as investment bankers, FTI Consulting, Inc. to provide an
interim treasurer and additional personnel for the Debtors, and
Kurtzman Carson Consultants LLC as administrative agent.

Matthew Feldman, Esq., at Willkie Farr & Gallagher, and Harry
Wilson, the head of turnaround and restructuring firm MAEVA
Advisors, are representing the Teamsters union.

Attorneys for The Bakery, Confectionery, Tobacco Workers and Grain
Millers International Union and Bakery & Confectionery Union &
Industry International Pension Fund are Jeffrey R. Freund, Esq.,
at Bredhoff & Kaiser, P.L.L.C.; and Ancela R. Nastasi, Esq., David
A. Rosenzweig, Esq., and Camisha L. Simmons, Esq., at Fulbright &
Jaworski L.L.P.

The official committee of unsecured creditors selected New York
law firm Kramer Levin Naftalis & Frankel LLP as its counsel. Tom
Mayer and Ken Eckstein head the legal team for the committee.

Hostess Brands in mid-November 2012 opted to pursue the orderly
wind down of its business and sale of its assets after the Bakery,
Confectionery, Tobacco and Grain Millers Union (BCTGM) commenced a
nationwide strike.  The Debtor failed to reach an agreement with
BCTGM on contract changes.

Hostess Brands sold its businesses and most of the plants to five
different buyers for an aggregate of $860 million.  Hostess still
has some plants, depots and other facilities the buyers didn't
acquire.

The bankruptcy estate has changed its name to Old HB Inc.


HOUSTON REGIONAL: Asks for More Time to File Exit Plan
------------------------------------------------------
Katy Stech, writing for Daily Bankruptcy Review, reported that
Comcast SportsNet Houston, the city's struggling sports channel,
has asked a judge to push back a key deadline in its Chapter 11
case while its executives figure out how to turn around the
channel.

             About Houston Regional Sports Network

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

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

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

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

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

Judge Marvin Isgur presides over the case.

The Network was officially placed into Chapter 11 bankruptcy
pursuant to a Feb. 7 Order for Relief.  It has won approval to
hire Haynes and Boone, Charles A. Beckham, Jr., Esq., Henry
Flores, Esq., Abigail Ottmers, Esq., and Christopher L. Castillo,
Esq., as counsel.  It also hired Conway MacKenzie, Inc., as
financial advisor.

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

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


HUSKY INJECTION: S&P Assigns 'B' Rating to US$1.265BB Sr. Loan
--------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B' issue-
level rating and '3' recovery rating to Canada-based Husky
Injection Molding Systems Ltd.'s proposed US$1.265 billion senior
secured first-lien term loan.  At the same time, Standard & Poor's
assigned its 'CCC+' issue-level rating, and '6' recovery rating to
Husky's proposed US$300 million senior secured second-lien term
loan.  Husky Injection Molding Systems is a wholly owned
subsidiary of Husky International Ltd. (collectively, Husky).

"We view the planned financing as credit neutral, because we
expect proceeds to almost exclusively repay the company's debt
outstanding," said Standard & Poor's credit analyst Jarrett
Bilous.

"Our '3' recovery rating on the proposed first-lien term loan
reflects our expectation for meaningful (50%-70%) recovery in our
simulated default scenario.  We estimate approximately 85% of
Husky's distressed net enterprise value is pledged to the proposed
first-lien creditors.  In our analysis, the remaining 15% of
Husky's net enterprise value is shared equally on a pro rata basis
by residual first-lien creditors and proposed second-lien term
loan creditors.  As a result, we estimate negligible (0%-10%)
recovery for proposed second-lien creditors, albeit at the high
end of the recovery rating range," S&P said.

"Our view of Husky's business risk profile as "fair" stems from
the company's leading market share in the global plastic injection
molding equipment industry, diverse customer and geographic base,
and relatively stable profitability. Husky competes in the
fragmented and cyclical US$30 billion injection molding machinery
market.  Its focus on the niche PET beverage packaging market
somewhat insulates the company from economic swings.  Furthermore,
tooling and parts and services, which tend to be stable and higher
margin, make just over half of overall revenues.  This helps to
mitigate the cyclical volatility of the industry," S&P noted.

"We regard Husky's financial risk profile as "highly leveraged,"
based on the company's cash flow and leverage measures, as well as
its private equity ownership.  We expect Husky's adjusted debt-to-
EBITDA ratio will remain above 5x over the next two years and
adjusted funds from operations to debt will be at or below 12%
through 2015.  However, we believe the company will generate free
cash flow over this period, which could help to improve core
credit measures modestly from gradual debt repayment in the
absence of future acquisitions," S&P added.

RATINGS LIST

Husky International Ltd.
Corporate credit rating                      B/Stable/--

Ratings Assigned
Husky Injection Molding Systems Ltd.

US$1.265 bil. sr secured 1st-lien term loan  B
  Recovery rating                             3
US$300 mil. sr secured 2nd-lien term loan    CCC+
  Recovery rating                             6


IDERA PHARMACEUTICALS: Stockholders Elected Two Directors
---------------------------------------------------------
Idera Pharmaceuticals, Inc., held its annual meeting of
stockholders on June 9, 2014, at which the stockholders:

   (a) elected Dr. Kelvin M. Neu and Mr. William S. Reardon as
       Class I directors for terms expiring at the 2017 annual
       meeting of stockholders;

   (b) approved, on a non-binding advisory basis, the compensation
       of the Company's named executive officers;

   (c) approved an amendment to the Company's 2013 Plan; and

   (d) ratified appointment of Ernst & Young LLP as the
       independent registered public accounting firm for the
       Company for the fiscal year ending Dec. 31, 2014.

The amendment to the Company's 2013 Stock Incentive Plan was to
increase the number of shares authorized for issuance thereunder
by 6,000,000 shares from (i) an aggregate of 4,224,460 shares of
Common Stock plus those additional number of shares of Common
Stock (up to 5,720,540 shares) as is equal to the number of shares
of Common Stock subject to awards granted under the Company's
2008 Stock Incentive Plan which awards expire, terminate
or are otherwise surrendered, canceled, forfeited or  repurchased
by the Company at their original issuance price pursuant to a
contractual repurchase right, to (ii) an aggregate of 10,224,460
shares of Common Stock plus the 2008 Plan Potential Rollover
Shares.  This amendment to the 2013 Plan had previously been
approved by the Company's Board of Directors subject to
stockholder approval.

The terms of these directors continued after the Annual Meeting:

   * Sudhir Agrawal, D. Phil
   * Julian C. Baker
   * Youssef El Zein
   * James A. Geraghty
   * Mark Goldberg, M.D.
   * Robert W. Karr, M.D.
   * Malcolm MacCoss, Ph.D.
   * Eve E. Slater, M.D.

As previously disclosed, C. Keith Hartley and Abdul-Wahab Umari
did not stand for re-election at the Annual Meeting.  Mr. Umari
delivered a written resignation to the Company on June 9, 2014,
confirming that he no longer serves as a director.

In the first half of 2014, Idera Pharmaceuticals significantly
expanded its management team.  As a result of related changes in
authority and responsibility and changes in the Company's
reporting structure, effective June 10, 2014, Dr. Timothy M.
Sullivan, the Company's vice president, Development Programs and
Alliance Management, and Dr. Robert D. Arbeit, the Company's vice
president, Clinical Development, who will continue to serve in
those positions, are no longer Section 16 officers or executive
officers of the Company and will no longer be identified as named
executive officers in its filings with the Securities and Exchange
Commission.

                     About Idera Pharmaceuticals

Cambridge, Massachusetts-based Idera Pharmaceuticals, Inc., is a
clinical stage biotechnology company engaged in the discovery and
development of novel synthetic DNA- and RNA-based drug candidates
that are designed to modulate immune responses mediated through
Toll-like Receptors, or TLRs.  The Company has two drug
candidates, IMO-3100, a TLR7 and TLR9 antagonist, and IMO-8400, a
TLR7, TLR8, and TLR9 antagonist, in clinical development for the
treatment of autoimmune and inflammatory diseases.

Idera Pharmaceuticals reported a net loss of $18.22 million in
2013, a net loss of $19.24 million in 2012 and a net loss of
$23.77 million in 2011.  As of March 31, 2014, the Company had
$72.24 million in total assets, $5.35 million in total liabilities
and $66.88 million in total stockholders' equity.


IMAGING EXPANSIONS: Case Summary & 11 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

         Debtor                             Case No.
         ------                             --------
         Imaging Expansions, LLC            14-41260
         4701 Springhill Estates Drive
         Allen, TX 75002

         The Black & White Labs, Inc.       14-41261
         4701 Springhill Estates
         Allen, TX 75002

Chapter 11 Petition Date: June 11, 2014

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Judge: Hon. Brenda T. Rhoades

Debtors' Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPENS P.C.
                  12770 Coit Road, Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  Email: eric@ealpc.com

                           Estimated    Estimated
                             Assets    Liabilities
                           ----------  -----------
Imaging Expansions, LLC    $0-$50K     $1MM-$10MM
The Black & White Labs     $0-$50K     $1MM-$10MM

Estimated Liabilities: $1 million to $10 million

The petitions were signed by Lou George, managing member of
Imaging Expansions.

A list of Imaging Expansions' 11 largest unsecured creditors is
available for free at http://bankrupt.com/misc/txeb14-41260.pdf


ISC8 INC: Receives Default Notice From PFG
------------------------------------------
ISC8 Inc. received notice from Partners for Growth III, L.P., of
PFG's declaration that the Company failed to pay certain principal
and interest payments due pursuant to the Loan and Security
Agreement by and between the Company and PFG, dated Dec. 14, 2012,
and that the Company's failure to make these payments resulted in
an Event of Default, as defined in the Agreement.  Accordingly, it
is PFG's position that all amounts due and payable to PFG under
the Agreement, approximately $3 million, is now due and payable.
The Company is currently working with PFG to cure any default and
bring all amounts owed under the Agreement current.

                            About ISC8 Inc.

Costa Mesa, California-based ISC8 Inc. is engaged in the design,
development, manufacture and sale of a family of security
products, consisting of cyber security solutions for commercial
and U.S. government applications, secure memory products, some of
which utilize technologies that the Company has pioneered for
three-dimensional ("3-D") stacking of semiconductors, systems in a
package ("Systems in a Package" or "SIP"), and anti-tamper
systems.

The Company reported a net loss of $28.02 million on $501,000 of
revenues in fiscal year ended Sept. 30, 2013, compared with a net
loss of $19.7 million in fiscal year ended Sept 30, 2012.

Squar, Milner, Peterson, Miranda & Williamson, LLP, in their audit
report on the consolidated financial statements for the year ended
Sept. 30, 2013, expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company
has negative working capital of $29.7 million and a stockholders'
deficit of $55.5 million.

As of March 31, 2014, the Company had $3.12 million in total
assets, $12.66 million in total liabilities and a $9.53 million
total stockholders' deficit.


J.C. PENNEY: New Financing Gives Retailer Room To Grow Again
------------------------------------------------------------
Jonathan Schwarzberg, writing for The Deal, reported that J.C.
Penney Co. Inc. is getting set to close on a new round of
financing that industry observers say may give the company more
time to develop new strategies and build upon the ones it has put
in place.

According to the report, the department store showed the first
signs of stabilization when it reported better-than-expected
financial numbers during the first quarter, but it still has a way
to go before it regains a semblance of its glory days.  One of the
areas the company plans to make a big push into this year as it
seeks to take advantage of the improved liquidity is the Hispanic
consumer base, the report said.

                         About J.C. Penney

J.C. Penney Company, Inc. is one of the U.S.'s largest department
store operators with about 1,100 locations in the United States
and Puerto Rico.

                           *     *     *

The Troubled Company Reporter, on March 5, 2014, reported that
Standard & Poor's Ratings Services revised its outlook on J.C.
Penney Co. Inc. to stable from negative.  At the same time, S&P
affirmed all other ratings, including the 'CCC+' corporate credit
rating, on the company.

The Troubled Company Reporter, on May 21, 2014, reported that
Fitch Ratings has affirmed the Issuer Default Ratings (IDRs) of
J.C. Penney Co., Inc. and J.C. Penney Corporation, Inc. at 'CCC'
and assigned a Positive Outlook.

On June 6, 2014, the Troubled Company Reporter said Standard &
Poor's Ratings Services assigned a 'B' issue level rating to J.C.
Penney Corp. Inc.'s $1.85 billion ABL revolving credit facility
and $500 million senior secured first-in last-out term loan with a
'1' recovery rating, indicating S&P's expectation for very high
(90%-100%) recovery in the event of a payment default.  S&P
affirmed all other ratings, including the 'CCC+' corporate credit
rating on parent company J.C. Penney Co. Inc.  The outlook is
stable.

On the same date, Moody's Investors Service rated J.C. Penney
Corporation, Inc.'s proposed asset based revolving credit facility
at B1 and its proposed asset based term loan at B2. At the same
time, Moody's affirmed J.C. Penney Company, Inc.'s Caa1 Corporate
Family Rating ("CFR"), Caa1-PD Probability of Default Rating, and
SGL-3 Speculative Grade Liquidity rating. The rating outlook
remains negative.


J2 GLOBAL: S&P Assigns BB CCR & Rates $350 Convertible Notes B+
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned a 'BB'
corporate credit rating to Los Angeles-based j2 Global Inc.  The
outlook is stable.  S&P withdrew the 'BB' corporate credit rating
on j2 Cloud Services Inc. (formerly j2 Global Inc.).

At the same time, S&P assigned a 'B+' rating with a recovery
rating of '6' to j2 Global Inc.'s $350 million of convertible
notes due 2029.  The '6' recovery rating indicates S&P's
expectation of negligible recovery (0%-10%) in the event of a
payment default.

S&P also affirmed the issue-level ratings on the debt of j2 Cloud
Services Inc. (which we originally assigned when the company was
known as j2 Global Inc.).

"Our 'BB' corporate credit rating reflects the company's 'weak'
business risk profile, which factors in the company's significant
position in a narrow segment of the cloud-based market, and its
'moderate' financial risk resulting from the increased leverage
from the proposed issue," said Standard & Poor's credit analyst
Jacob Schlanger.

S&P previously viewed its financial risk as "minimal."  S&P
adjusted the 'bb+' anchor score down by one notch due to the
company's narrow market focus, a heavy reliance on one of its
products, and its exposure to technology risk.

The stable outlook reflects the company's steady and growing
revenue base and good cash flow generation.

S&P could lower the rating if margins decline because of
competitive pressures or the availability of alternative
technologies, or if a major acquisition or integration issues
cause leverage to be sustained above the low 2x level.

Given the current business risk assessment and leverage level, S&P
do not foresee an upgrade over the next 12 to 18 months.


JAMES RIVER: Sale of Idled Mining Complex Approved
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that coal producer James River Coal Co. got court
authority yesterday to sell its idled McCoy Elkhorn mine to
initial bidders after no competing offers surfaced.

According to the report, Opes Resources Inc. and Marshall
Resources Inc. will each buy discrete units of the mining complex
for $3.1 million and $445,000 in cash, respectively, plus the
assumption of liabilities.

The $47.3 million in 4.5 percent senior unsecured convertible
notes due in 2015 last traded on June 4 for 3.95 cents on the
dollar, the Bloomberg report said, citing Trace, the bond-price
reporting system of the Financial Industry Regulatory Authority.
The $270 million in 7.875 percent senior unsecured notes due in
2019 last traded on June 5 for 12.047 cents on the dollar,
according to Trace.

                         About James River

James River Coal Company is a producer and marketer of coal in the
Central Appalachia ("CAPP") and the Midwest coal regions of the
United States.  James River's principal business is the mining,
preparation and sale of metallurgical coal, thermal coal (which is
also known as steam coal) and specialty coal.

James River and 33 of its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. E.D. Va. Case Nos. 14-31848 to 14-31886) in
Richmond, Virginia, on April 7, 2014.  The petitions were signed
by Peter T. Socha as president and chief executive officer.
Judge Kevin R. Huennekens oversees the Chapter 11 cases.

On the petition date, James River Coal disclosed total assets of
$1.06 billion and total liabilities of $818.6 million.

Davis Polk & Wardwell LLP serves as the Debtors' counsel.  Hunton
& Williams, LLP, acts as the Debtors' local counsel.  Kilpatrick
Townsend & Stockton LLP serves as the Debtors' special counsel.
Perella Weinberg Partners L.P. is the Debtors' financial advisor.
Deutsche Bank Securities Inc. serves as the Debtors' investment
banker and M&G advisor.  Epiq Bankruptcy Solutions, LLC, acts as
the debtors' notice, claims and administrative agent.

The U.S. Trustee for Region 4 has appointed five creditors to the
Official Committee of Unsecured Creditors.  Michael S. Stamer,
Esq., Alexis Freeman, Esq., and Jack M. Tracy II, Esq., at Akin
Gump Strauss Hauer & Feld LLP; and Jonathan L. Gold, Esq.,
Christopher L. Perkins, Esq., and Christian K. Vogel, Esq., at
LeClairRyan.

The Debtors intend to hold an auction in July 8, 2014 for
substantially all of the assets.  The Debtors proposed a May 22
deadline for preliminary indications of interest.


KANGADIS FOOD: Section 341(a) Meeting Set on July 11
----------------------------------------------------
A meeting of creditors in the bankruptcy case of Kangadis Food
Inc. is scheduled for July 11, 2014, at 9:00 a.m. at Room 562, 560
Federal Plaza, CI, in New York.

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

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

                        About Kangadis Food

Formed in 2003, Kangadis Food Inc. is an importer of olives and
other European delicacies, and a leading distributor of olive oil.
The Debtor sells its products under the brand names "Capatriti,"
"Porto," "Olio Villa," "Zorba," and "Kivotos".  The company is
100% owned by the Kangadis family.  The company says that for the
past six years, the popularity of its olive oil product sold under
the brand name "Capatriti" has grown over time, and it is one of
the leading brands in the New York metropolitan area.

As of its bankruptcy filing, Kangadis Food employs 51 people, and
operates from a 75,000 square foot facility located in Hauppauge,
New York, that serves as a warehouse, production facility, and
shipping center.

Kangadis Food Inc. filed a Chapter 11 bankruptcy petition (Bankr.
E.D.N.Y. Case No. 8-14-72649) in the Central Islip division, in
New York, on June 6, 2014.  Themistoklis Kangadis signed the
petition as chief executive officer.

As of the Dec. 31, 2013, the Debtor, on an unaudited basis, had
total assets of $12,259,802 and total liabilities of $6,136,456,
which amount does not include any disputed claim relating to the
class action.

Judge Robert E. Grossman presides over the case. Silverman
Acampora LLP, in Jericho, New York, serves as the Debtor's
counsel.


KU6 MEDIA: Posts $4.41 Million Net Loss in First Quarter
--------------------------------------------------------
Ku6 Media Co., Ltd. on June 13 reported unaudited financial
results for the first quarter of fiscal year 2014, ended March 31,
2014.

First Quarter 201 4 Highlights

The Company generated substantially all of its revenues from
online advertising, primarily through an advertising agency
agreement with Shanghai Shengyue Advertising Ltd. ("Shengyue"), a
company formerly wholly owned by Shanda Interactive, pursuant to
which Shengyue acted as the Company's exclusive advertising agency
for standard media resources and as its non-exclusive advertising
agency for highly interactive advertising resources.

GAAP net loss was US$4.41 million (RMB27.43 million), as compared
to a net loss of US$26.78 million in the fourth quarter of 2013
and US$1.67 million in the first quarter of 2013.  Non-GAAP net
loss, which the Company defines as net loss excluding expenses
(benefits) associated with share-based compensation, was US$4.17
million (RMB25.94 million) in the first quarter of 2014, as
compared to non-GAAP net loss of US$25.57 million in the fourth
quarter of 2013 and US$2.32 million in the first quarter of 2013.

Basic and diluted loss per ADS was US$0.09(RMB0.58) in the first
quarter of 2014, as compared to US$0.57 in the fourth quarter of
2013 and US$0.04 in the first quarter of 2013.

Cash and cash equivalents were US$4.45 million (RMB27.65 million)
as of March 31, 2014.

Net cash provided by operating activities was US$2.50 million
(RMB15.55 million) in the first quarter of 2014, as compared to
net cash used in operating activities of US$4.46 million in the
fourth quarter of 2013 and net cash used in operating activities
of US$2.27 million in the first quarter of 2013.

(1) The reporting currency of the Company is the United States
dollar ("U.S. dollar"), but solely for the convenience of the
reader, the amounts of Renminbi ("RMB") presented throughout the
release were calculated at the rate of US$1.00=RMB6.2164,
representing the noon buying rate as of March 31, 2014 in the City
of New York for cable transfers of RMB as certified for customs
purposes by the Federal Reserve Bank of New York.  This
convenience translation is not intended to imply that the U.S.
dollar amounts could have been, or could be, converted, realized
or settled into RMB at that rate on March 31, 2014, or at any
other rate.

"It's my pleasure to announce Ku6's earnings release of first
quarter of 2014," Mr. Xudong Xu, Chief Executive Officer of Ku6
Media, commented.  "In the first quarter of 2014, Ku6 Media
experienced a very difficult time because of the big operational
adjustment and uncertainty of cash flow.  In order to turn around
the situation, we have established partnership with Qinhe and
entered new advertising agreement with advertising agent to try to
improve the cash collection.  We also have adopted a plan to
reduce our headcount and have taken other cost reduction measures,
including reduce infrastructure costs and content acquisition
costs, to reduce our operational cash outflows.  In the mean time,
we have been actively seeking additional financing."

First Quarter 2014 Financial Results

Total revenues were US$2.81 million (RMB17.44 million) in the
first quarter of 2014, representing a decrease of 13.7% from
US$3.25 million in the fourth quarter of 2013 and a decrease of
8.5% from US$3.07 million in the first quarter of 2013.

In the second quarter of 2011, the Company started to generate
advertising revenues primarily from performance advertising
services using a system called Application Advertisement ("AA").
Performance advertising revenue is realized through Shengyue, an
advertising agent which until March 31, 2014 was under the common
control of Shanda Interactive Entertainment Limited, the Company's
majority shareholder at that time.  The Company generated 96.3% of
total revenues in the first quarter of 2014 through this
advertising agent, as compared to 96.0% of total revenues in the
fourth quarter of 2013.

Cost of revenues was US$3.94 million (RMB24.50 million) in the
first quarter of 2014, representing a decrease of 25.1% from
US$5.26 million in the fourth quarter of 2013 and an increase of
25.8% from US$3.13 million in the first quarter of 2013.  The
increase in cost of revenues as compared to the fourth quarter of
2013 was primarily due to the video production costs incurred for
the UGC Entertainment Awards Ceremony held by the Company in
Beijing in December 2013.

Gross loss was US$1.14 million (RMB7.06 million) in the first
quarter of 2014, as compared to a gross loss of US$2.01 million in
the fourth quarter of 2013 and a gross loss of US$0.07 million in
the first quarter of 2013.  Non-GAAP gross loss, which is herein
defined as a gross loss excluding expenses (benefits) associated
with share-based compensation, was US$1.10 million (RMB6.83
million) in the first quarter of 2014, as compared to a non-GAAP
gross loss of US$1.66 million in the fourth quarter of 2013 and a
non-GAAP gross loss of US$0.26 million in the first quarter of
2013.

Operating expenses were US$3.59 million (RMB22.29 million) in the
first quarter of 2014, representing a decrease of 88.4% from
US$30.93 million in the fourth quarter of 2013 and an increase of
58.0% from US$2.27 million in the first quarter of 2013.  Non-GAAP
operating expenses , which is herein defined as operating expenses
excluding expenses (benefits) associated with share-based
compensation, were US$3.38 million (RMB20.02 million) in the first
quarter of 2014, as compared to non-GAAP operating expenses of
US$30.07 million in the fourth quarter of 2013 and US$2.72 million
in the first quarter of 2013.  The decrease in operating expenses
as compared to the fourth quarter of 2013 was mainly attributable
to the impairment charges of US$6.23 million and US$20.99 million
for goodwill and for definite-lived intangible assets (mainly
trademark), respectively, in the fourth quarter of 2013.

Operating loss was US$4.72 million (RMB29.34 million) in the first
quarter of 2014, representing an decrease of 85.7% from US$32.94
million in the fourth quarter of 2013 and an increase of 102.2%
from US$2.33 million in the first quarter of 2013.  Non-GAAP
operating loss, which reflects the exclusion of expenses
(benefits) associated with share-based compensation, was US$4.48
million (RMB27.85 million) in the first quarter of 2014, as
compared to the non-GAAP operating loss of US$31.73 million in the
fourth quarter of 2013 and US$2.98 million in the first quarter of
2013.

Net loss was US$4.41 million (RMB27.43 million) in the first
quarter of 2014, representing a decrease of 83.5% from US$26.78
million in the fourth quarter of 2013 and an increase of 163.9%
from US$1.67 million in the first quarter of 2013.  Non-GAAP net
loss , which reflects the exclusion of expenses (benefits)
associated with share-based compensation, was US$4.17 million
(RMB25.94 million) in the first quarter of 2014, as compared to
US$25.57 million in the fourth quarter of 2013 and US$2.32 million
in the first quarter of 2013.  The decrease in net loss as
compared to the fourth quarter of 2013 was primarily attributable
to the impairment charges of US$6.23 million and US$20.99 million
for goodwill and for definite-lived intangible assets (mainly
trademark), respectively, partially offset by an associated income
tax benefit of US$4.83 million for the fourth quarter of 2013.

Net loss per basic and diluted ADS was US$0.09(RMB0.58) in the
first quarter of 2014, as compared to US$0.57 in the fourth
quarter of 2013 and US$0.04 in the first quarter of 2013.
Weighted average ADSs used to calculate basic and diluted net loss
per ADS were 47.3 million in the first quarter of 2014, 47.3
million in the fourth quarter of 2013 and 47.3 million in the
first quarter of 2013.

Adjusted EBITDA loss , which is herein defined as net loss
attributable to Ku6 Media before interest income, interest
expenses, income taxes, depreciation and amortization (excluding
amortization and write-down of licensed video copyrights), further
adjusted for share-based compensation expenses (benefits), and
other non-operating items, was US$4.18 million (RMB25.95 million)
in the first quarter of 2014, as compared to adjusted EBITDA loss
of US$30.99 million in the fourth quarter of 2013 and US$2.04
million in the first quarter of 2013.  Adjusted EBITDA loss for
the fourth quarter of 2013 is larger than non-GAAP net loss as
described previously due to the exclusion of the income tax
benefit recorded in the fourth quarter of 2013.

As of March 31, 2014, the Company had US$4.45 million (RMB27.65
million) in cash and cash equivalents, compared to US$1.67 million
as of December 31, 2013.  The increase was primarily attributable
to US$2.50 million (RMB15.55 million) of net cash provided by
operating activities, as a result of the collection of significant
amounts of receivables from Shengyue in the first quarter of 2014.

Liquidity and Going Concern

Substantial doubt exists as to the Company's ability to continue
as a going concern, primarily due to (1) uncertainties of cash
collection associated with the revenue sharing cooperation with
Qinhe and the new advertising agency agreement with Shengyue; (2)
uncertainties associated with the Company's cost reduction
measures, including improving the efficiency of CDN network to
reduce infrastructure costs, as well as reducing the content
acquisition costs; (3) uncertainties as to the availability and
timing of additional financing with terms acceptable to the
Company.

Recent Business Developments

Advertising Agency Agreement with Shengyue

On March 31, 2014, the Company's previous advertising agency
agreement with Shengyue, which originally expired on December 31,
2013 and was amended and restated for an additional period of
three months spanning the first quarter of 2014, expired and was
not renewed.  Shengyue, as of April 10, 2014, is no longer owned
by Shanda Interactive and is currently an independent third party.
In addition, on April 30, 2014, the Company entered into a new
advertising agency agreement with the new non-related party
Shengyue following Shengyue's change in ownership.  The minimum
guarantees amount under this new agreement is substantially lower
than the minimum revenue guarantees under the previous advertising
agency agreement with Shengyue prior to March 31, 2014.  This new
advertising agency agreement is effective from April 25 and will
expire on December 31, 2014.

Share Transaction between Shanda and Mr. Xudong Xu

On March 31, 2014, the Company's controlling shareholder, Shanda
Media, a wholly owned subsidiary of Shanda Interactive, entered
into a share purchase agreement with Mr. Xudong Xu to sell
1,938,360,784 ordinary shares (approximately 41% of the Company's
issued and outstanding ordinary shares) to Mr. Xu, the founder and
controlling shareholder of Sky Profit Limited, a Caymans Islands
company engaged in online business ventures (the "Transaction").

On April 3, 2014, the transfer of the ordinary shares was
completed. The aggregate consideration for these ordinary shares
was US$47.4 million.  Mr. Xu funded the purchase price through a
loan from Shanda Media, which is secured by a pledge of all of the
Company's ordinary shares beneficially owned by Mr. Xu. Mr. Xu has
also provided powers of attorney over the shares to Shanda
Interactive.  The powers of attorney over the shares can be
exercised after occurrence of an event of default which is
continuing.

On April 3, 2014, in connection with the acquisition of shares by
Mr. Xu, Shanghai Shengda Network Development Co., Ltd. ("Shanghai
Shengda"), Shanda Media's affiliate, entered into agreements to
provide a loan of RMB20.0 million to the Company.  This loan does
not bear any interest and was due on April 2, 2015.  The loan was
immediately forgiven in order to satisfy one of the closing
conditions under the share purchase agreement; therefore, this
amount will be reflected as an increase in the Company's equity
capital (additional paid in capital) in the second quarter. In
partial exchange therefore, a related party receivable from
Hurray! Media Co., Ltd., a wholly owned affiliate of Shanda,
amounting to US$1,246,641, was waived by the Company and this
amount will also be reflected as a charge to the Company's
additional paid in capital in the second quarter.  On April 10,
2014, the Company received the monies from Shanghai Shengda.

As part of the Transaction, Mr. Xu has undertaken in the share
purchase agreement to procure additional equity or debt financing
in the amount of no less than US$10.0 million by October 30, 2014.
There is no guarantee as to if and when this financing will occur
and none has yet been procured.  The uncertainties surrounding the
successful consummation, if at all, of this financing (or of any
other financing) may further exacerbate the Company's liquidity
challenges and deficit position and cast further doubt on the
Company's ability to continue as a going concern.

Headcount Reduction Plan

On April 22, 2014, the Company filed a plan with relevant
authorities to reduce its headcount by approximately 40% in
various departments in order to reduce future operating cash
outflows.  The Company may incur additional severance costs in
relation to headcount reductions; however, as the Company's
agreements with affected employees do not contain explicit
severance formulae, the amounts may vary and are currently not
estimable.

Revenue Sharing Cooperation with Qinhe

On April 30, 2014, the Company entered into an agreement with
Qinhe, a company controlled by Mr. Xu, which operates iSpeak, a
social platform that allows users to engage in real-time online
group activities through voice, text and video. This agreement
stipulates that the Company will assist Qinhe by providing online
game marketing services.  Qinhe will share a portion of its
profits that are generated from the Company's video viewers who
play Qinhe's games after linking to them through advertisements on
the Company's websites.  Profits are calculated as revenues from
the games operated by Qinhe, net of licensing fees payable to game
developers.  The Company has provided these game marketing
services to Qinhe from April 3, 2014 onward. This agreement
expires on March 31, 2015.

On May 4, 2014, the Company entered into a separate agreement with
Qinhe to provide interactive entertainment marketing services
under a similar arrangement to that described above.  Pursuant to
this agreement, the Company will share a certain percentage of
Qinhe's revenues generated from its video viewers who visit the
iSpeak platform by linking thereto from advertisements on the
Company's website and spend monies with iSpeak.  On May 4, 2014,
the Company started to provide these marketing services to Qinhe.
This agreement expires on May 3, 2015.

Loan from Related Party

On May 19, 2014, Shanghai Shengda entered into agreements to
provide a loan of RMB21.4 million to the Company.  This loan does
not bear any interest and is due within twelve months.  However,
similar to the previous forgiven loan of RMB20.0 million in early
April, this loan was immediately forgiven. In partial exchange,
related party payables to certain companies under the common
control of Shanda, amounting to RMB5.3 million, were offset
against this loan.  The benefit from the forgiven loan will be
reflected as an increase in the Company's equity capital
(additional paid in capital).  On May 30, 2014, the Company
received the net amounts of RMB16.1 million from Shanghai Shengda.

Share Repurchase Program of 2011

Pursuant to a share repurchase program announced on December 30,
2011, the Company's Board of Directors have authorized the Company
to repurchase up to an aggregate of US$3.2 million of its
outstanding ADSs from time to time following the date thereof,
based on market conditions.  As of March 31, 2014, the Company has
repurchased 157,567 ADSs from open market under this program.
There were no share repurchases in the first quarter of 2014.

                    About Ku6 Media Co., Ltd.

Ku6 Media Co., Ltd. -- http://ir.ku6.com-- is an Internet video
company in China focused on User-Generated Content.  Through its
premier online brand and online video website,  www.ku6.com , Ku6
Media provides online video uploading and sharing service, video
reports, information and entertainment in China.


LIME ENERGY: Settles Class Action Suit for $2.5 Million
-------------------------------------------------------
Judge Sara Ellis entered an order on June 4, 2014, granting final
approval of a class action settlement and notice to the settlement
class in the matter Satterfield v. Lime Energy Co. et al., Case
No. 12-cv-05704.  As part of the settlement, the Defendants agreed
to pay $2.5 million into a settlement fund, the entire amount of
which they anticipate will be covered by insurance.

                          About Lime Energy

Headquartered in Huntersville, North Carolina, Lime Energy Co. --
http://www.lime-energy.com-- is engaged in planning and
delivering clean energy solutions that assist its clients in their
energy efficiency and renewable energy goals.  The Company's
solutions include energy efficient lighting upgrades, energy
efficient mechanical and electrical retrofit and upgrade services,
water conservation, building weatherization, on-site generation
and renewable energy project development and implementation.  The
Company provides energy solutions across a range of facilities,
from high-rise office buildings, distribution facilities,
manufacturing plants, retail sites, multi-tenant residential
buildings, mixed use complexes, hospitals, colleges and
universities, government sites to small, single tenant facilities.

Lime Energy disclosed in regulatory filings in July 2013 it is in
discussions with PNC Bank about entering into a forbearance
agreement in which they would agree not to accelerate a loan for a
period of time while the Company attempts to correct the gas flow
issue and sell its landfill-gas facility.  The bank is considering
the Company's request.

Lime Energy reported a net loss available to common stockholders
of $18.51 million in 2013 following a net loss of $31.81 million
in 2012.

The Company's balance sheet at March 31, 2014, showed $27.05
million in total assets, $18.78 million in total liabilities and
$8.26 million in total stockholders' equity.


LONGVIEW POWER: Seeks Exclusivity Extension Until Sept. 3
---------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that power-plant owner Longview Power LLC, now in the
process of re-soliciting votes on a revised reorganization plan,
is seeking an extension of its exclusive plan-filing rights until
the conclusion of a confirmation hearing set to begin Sept. 3.

According to the report, a bankruptcy judge in Delaware is to hold
a hearing June 24 to consider the exclusivity motion.  If granted,
the new plan deadline will be Sept. 30, the report related.

                      About Longview Power LLC

Longview Power LLC is a special purpose entity created to
construct, own, and operate a 695 MW supercritical pulverized
coal-fired power plant located in Maidsville, West Virginia, just
south of the Pennsylvania border and approximately 70 miles south
of Pittsburgh.  The project is owned 92% by First Reserve
Corporation (First Reserve or sponsor), a private equity firm
specializing in energy industry investments, through its affiliate
GenPower Holdings (Delaware), L.P., and 8% by minority interests.

Longview Power, LLC, filed a Chapter 11 (Bank. D. Del. Lead Case.
13-12211) on Aug. 30, 2013.  The petitions were signed by Jeffery
L. Keffer, the Company's chief executive officer, president,
treasurer and secretary.  The Debtor estimated assets and debts of
more than $1 billion.  Judge Brendan Linehan Shannon presides over
the case.  Kirkland & Ellis LLP and Richards, Layton & Finger,
P.A., serve as the Debtors' counsel.  Lazard Freres & Company LLC
acts as the Debtors' investment bankers.  Alvarez & Marsal North
America, LLC, is the Debtors' restructuring advisors.  Ernst &
Young serves as the Debtors' accountants.  The Debtors' claims
agent is Donlin, Recano & Co. Inc.

The Debtor disclosed assets of $1,717,906,595 plus undisclosed
amounts and liabilities of $1,075,748,155 plus undisclosed
amounts.

Roberta A. DeAngelis, U.S. Trustee for Region 3, disclosed that as
of September 11, 2013, a committee of unsecured creditors has not
been appointed in the case due to insufficient response to the
U.S. Trustee's communication/contact for service on the committee.


LONGVIEW POWER: Can Halt Lawsuit Threatening Restructuring
----------------------------------------------------------
Michael Bathon, writing for Bloomberg News, reported that Longview
Power LLC, a bankrupt energy producer, received court approval to
halt a California state lawsuit by First American Title Insurance
Co. that threatened its plan to exit bankruptcy.

According to the report, U.S. Bankruptcy Judge Brendan Linehan
Shannon at a hearing on June 11 in Wilmington, Delaware, ruled
that Longview can extend the protections enjoyed by bankrupt
companies to bar the state action even though it isn't a part of
the California case, because the power producer would "suffer
immediate and irreparable harm."

                      About Longview Power LLC

Longview Power LLC is a special purpose entity created to
construct, own, and operate a 695 MW supercritical pulverized
coal-fired power plant located in Maidsville, West Virginia, just
south of the Pennsylvania border and approximately 70 miles south
of Pittsburgh.  The project is owned 92% by First Reserve
Corporation (First Reserve or sponsor), a private equity firm
specializing in energy industry investments, through its affiliate
GenPower Holdings (Delaware), L.P., and 8% by minority interests.

Longview Power, LLC, filed a Chapter 11 (Bank. D. Del. Lead Case.
13-12211) on Aug. 30, 2013.  The petitions were signed by Jeffery
L. Keffer, the Company's chief executive officer, president,
treasurer and secretary.  The Debtor estimated assets and debts of
more than $1 billion.  Judge Brendan Linehan Shannon presides over
the case.  Kirkland & Ellis LLP and Richards, Layton & Finger,
P.A., serve as the Debtors' counsel.  Lazard Freres & Company LLC
acts as the Debtors' investment bankers.  Alvarez & Marsal North
America, LLC, is the Debtors' restructuring advisors.  Ernst &
Young serves as the Debtors' accountants.  The Debtors' claims
agent is Donlin, Recano & Co. Inc.

The Debtor disclosed assets of $1,717,906,595 plus undisclosed
amounts and liabilities of $1,075,748,155 plus undisclosed
amounts.

Roberta A. DeAngelis, U.S. Trustee for Region 3, disclosed that as
of September 11, 2013, a committee of unsecured creditors has not
been appointed in the case due to insufficient response to the
U.S. Trustee's communication/contact for service on the committee.


M&B21 HARRISON: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: M&B21 Harrison Group LLC
        429 Fairmont Avenue
        Fairmont, NJ 07302

Case No.: 14-43011

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: June 12, 2014

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

Judge: Hon. Carla E. Craig

Debtor's Counsel: Wayne M Greenwald, Esq.
                  WAYNE GREENWALD, PC
                  475 Park Avenue South - 26th Floor
                  New York, NY 10016
                  Tel: (212) 983-1922
                  Fax: (212) 983 1965
                  Email: grimlawyers@aol.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Alisa Adler, managing member.

A list of the Debtor's six largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-43011.pdf


MARTIFER SOLAR: Finds a Buyer for Solar-Power Business
------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Martifer Aurora Solar LLC, a Los Angeles-based
builder of solar-power projects, will sell the business to so-
called stalking horse BayWa R.E. Solar LLC for $7.6 million unless
competing bids surface.

According to the report, Martifer asked the court to approve sale
procedures on an expedited basis because bankruptcy financing only
covered operations through May 31 and it must survive on remaining
cash through July 20.  Martifer proposes that competing bids would
be due June 24, followed by an auction on June 26 and a hearing
for approval of sale on June 27, the report related.

If BayWa wins the auction, it will pay $5.88 million up front and
escrow an additional $1.8 million to be released to Martifer upon
satisfaction of certain conditions, the report said.

                       About Martifer Solar

Martifer Solar USA, Inc., and Martifer Aurora Solar LLC filed
separate Chapter 11 bankruptcy petitions (Bankr. D. Nev. Case Nos.
14-10357 and 14-10355) in Las Vegas on Jan. 21, 2014.  Martifer
Solar USA, which is based in Los Angeles, California, estimated
$10 million to $50 million in assets and liabilities.

Bankruptcy Judge August B. Landis oversees the case.  The Debtors
tapped Brett A. Axelrod, Esq., and Micaela Rustia Moore, Esq., at
Fox Rothschild LLP, in Las Vegas, as counsel, and Armory
Consulting Co. as restructuring and financial advisor.  The
Debtors tapped Foley Hoag LLP as special Massachusetts litigation
counsel with respect to a pending litigation relating to EPG
Solar, LLC; and Foley & Lardner LLP as special solar counsel.

The Debtors also won approval to hire FTI and Michael Tucker, a
senior managing director of FTI, to serve as the company's chief
restructuring officer.

Cathay Bank, a prepetition lender, is represented by Michael
Gerard Fletcher, Esq., and Reed S. Waddell, Esq., at Frandzel
Robins Bloom & Csato, L.C.; and Natalie M. Cox, Esq., and Randolph
L. Howard, Esq., at Kolesar & Leatham.

Martifer Solar Inc., the proposed DIP Lender, and ultimate parent
of the Debtors, is represented by Samuel A. Schwartz, Esq., and
Bryan A. Lindsey, Esq., at The Schwartz Law Firm Inc.

Tracy Hope Davis, the U.S. Trustee for Region 17, appointed
five creditors to serve on the Official Committee of Unsecured
Creditors.  The Committee has retained Pachulski Stang Ziehl &
Jones LLP's Bradford J. Sandler, Esq., Shirley S. Cho, Esq., Jason
Rosell, Esq., and Patricia Jeffries, Esq.; and Larson & Zirzow,
Matthew C. Zirzow, Esq., Zachariah Larson, Esq., and Carey
Shurtliff, Esq., as counsel.

                           *     *     *

Martifer Aurora Solar LLC intends to emerge from reorganization by
mid-July by selling the business.  The Debtors said they hope to
have a so-called stalking-horse bidder signed to a contract in
time for an auction in mid-June.  In court papers in May 2014, the
Debtors said FTI set May 15, 2014 as the deadline for the initial
letters of intent and has received four letters of interest.  The
Debtors said they are formulating the bidding procedures for an
auction sale under section 363 instead of a plan, and are in the
process of selecting their stalking horse bidder.


MERCHANT CAPITAL: Case Summary & Largest Unsecured Creditors
------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                   Case No.
      ------                                   --------
      Merchant Capital Funding, LLC            14-11786
      75 Maiden Lane, 10th Floor
      New York, NY 10038

      Universal Payment Systems, LLC           14-11787
      75 Maiden Lane, 10th Floor
      New York, NY 10038

Chapter 11 Petition Date: June 12, 2014

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

Judge: Hon. Martin Glenn

Debtors' Counsel: Robert J. Spence, Esq.
                  SPENCE LAW OFFICE, P.C.
                  500 N. Broadway, Suite 149
                  Jericho, NY 11753
                  Tel: (516) 336-2060
                  Fax: (516) 605-2084
                  Email: rspence@spencelawpc.com

                                 Estimated     Estimated
                                  Assets      Liabilities
                                ----------    -----------
Merchant Capital Funding, LLC   $1MM-$10MM     $1MM-$10MM
Universal Payment Systems, LLC  $0-$50,000     $100K-$500K

The petitions were signed by Lawrence Pross, president/managing
member.

A list of Merchant Capital's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/nysb14-11786.pdf

A list of Universal Payment's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/nysb14-11787.pdf


METRORIVERSIDE LLC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: MetroRiverside, LLC
        1550 Tiburon Blvd., Suite B1
        Belvedere Tiburon, CA 94920

Case No.: 14-30901

Type of Business: The Debtor operates a Hyatt Place hotel,
                  franchised from Hyatt Place Franchising LLC.
                  The Hotel is located at 3500 Market Street,
                  Riverside, California.

Chapter 11 Petition Date: June 12, 2014

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Hon. Dennis Montali

Debtor's Counsel: Reno F.R. Fernandez, Esq.
                  Iaian A. MacDonald, Esq.
                  Matthew J. Olson, Esq.
                  Roxanne Bahdurji, Esq.
                  MACDONALD FERNANDEZ LLP
                  221 Sansome St. 3rd Fl.
                  San Francisco, CA 94104
                  Tel: (415) 362-0449
                  Email: reno@macfern.com
                         iain@macfern.com
                         matt@macfern.com

Total Assets: $18.79 million

Total Liabilities: $21.80 million

The petition was signed by Siavash Barmand, manager.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                        Nature of Claim   Claim Amount
   ------                        ---------------   ------------
Anthony Glaves                   Unsecured Loan      $154,777

AT&T                             Telephone services  $1,136

AT&T                             Telephone services  $379

Benefit Risk Management Services                     $3,180

Bulk TV & Internet                                   $2,090

Central Parking System            Vendor             $11,301

Ethostream                                           $250

Federal Express                   Mailing services   $128

Gate City Beverage                Vendor             $361

GE Capital                        Vendor             $423

Orange Cleaners                   Vendor             $1,058

Paul Cliff                        Legal services     $7,690

Pepsi-Cola                        Vendor             $442

Russell Schwartz                  Unsecured Loan     $105,466

Starbucks                         Vendor             $275

Sysco Riverside, Inc.             Vendor             $6,684

The Redevelopment Agency                             $20,660,000
of the City of Riverside
Attn: Executive Director
Riverside, CA 92501
Tel: (951) 826-5649

Tri-State Security Patrol, Inc.   Vendor             $594

Vistar                            Vendor             $286

Wasserstrom Company               Vendor             $891


MF GLOBAL: Wants Claims By Corzine, Other Former Execs Capped
-------------------------------------------------------------
Law360 reported that MF Global Holdings Ltd. asked a New York
bankruptcy judge to cancel or cap certain claims by former
officers, including Jon Corzine, who have been targeted in
litigation related to the brokerage's collapse, in order to allow
MF Global's bankruptcy plan administrator to make payments to
other creditors.

According to the report, lawyers for the administrator asked U.S.
Bankruptcy Judge Martin Glenn to disallow certain indemnification
claims by ex-MF Global officers, or to subordinate them to claims
by other creditors. In addition, the administrator is seeking to
cap at $5 million each indemnification claim by Corzine, former MF
Global Chief Operating Officer Bradley Abelow and ex-Chief
Financial Officer Henri Steenkamp, the report said.

                        About MF Global

New York-based MF Global -- http://www.mfglobal.com/-- was one of
the world's leading brokers of commodities and listed derivatives.
MF Global provides access to more than 70 exchanges around the
world.  The firm also was one of 22 primary dealers authorized to
trade U.S. government securities with the Federal Reserve Bank of
New York.  MF Global's roots go back nearly 230 years to a sugar
brokerage on the banks of the Thames River in London.

On Oct. 31, 2011, MF Global Holdings Ltd. and MF Global Finance
USA Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y.
Case Nos. 11-15059 and 11-5058), after a planned sale to
Interactive Brokers Group collapsed.  As of Sept. 30, 2011, MF
Global had $41,046,594,000 in total assets and $39,683,915,000 in
total liabilities.

On Nov. 7, 2011, the United States Trustee appointed the statutory
creditors' committee in the Debtors' cases.  At the behest of the
Statutory Creditor's Committee, the Court directed the U.S.
Trustee to appoint a chapter 11 trustee.  On Nov. 28, 2011, the
Bankruptcy Court entered an order approving the appointment of
Louis J. Freeh, Esq., of Freeh Group International Solutions, LLC,
as Chapter 11 trustee.

On Dec. 19, 2011, MF Global Capital LLC, MF Global Market Services
LLC and MF Global FX Clear LLC filed voluntary Chapter 11
petitions (Bankr. S.D.N.Y. Case Nos. 11-15808, 11-15809 and
11-15810).  On Dec. 27, the Court entered an order installing Mr.
Freeh as Chapter 11 Trustee of the New Debtors.

On March 2, 2012, MF Global Holdings USA Inc. filed a voluntary
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 12-10863), and Mr.
Freeh also was installed as its Chapter 11 Trustee.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J. Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric
Ivester, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve
as bankruptcy counsel.  The Garden City Group, Inc., serves as
claims and noticing agent.  The petition was signed by Bradley I.
Abelow, Executive Vice President and Chief Executive Officer of MF
Global Finance USA Inc.

The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan
LLP, as investigative counsel; (ii) FTI Consulting Inc., as
restructuring advisors; (iii) Morrison & Foerster LLP, as
bankruptcy counsel; and (iv) Pepper Hamilton as special counsel.

The Official Committee of Unsecured Creditors has retained
Capstone Advisory Group LLC as financial advisor, while lawyers at
Proskauer Rose LLP serve as counsel.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of
Goldman Sachs Group Inc., stepped down as chairman and chief
executive officer of MF Global just days after the bankruptcy
filing.

In April 2013, the Bankruptcy Court approved MF Global Holdings'
plan to liquidate its assets.  Bloomberg News reported that the
court-approved disclosure statement initially told
creditors with $1.134 billion in unsecured claims against the
parent holding company why they could expect a recovery of 13.4%
to 39.1% from the plan.  As a consequence of a settlement with
JPMorgan, supplemental materials informed unsecured creditors
their recovery was reduced to the range of 11.4% to 34.4%.  Bank
lenders will have the same recovery on their $1.174 billion claim
against the holding company.  As a consequence of the settlement,
the predicted recovery became 18% to 41.5% for holders of $1.19
billion in unsecured claims against the finance subsidiary,
one of the companies under the umbrella of the holding company
trustee.  Previously, the predicted recovery was 14.7% to 34% on
bank lenders' claims against the finance subsidiary.


MMODAL INC: Heads to July 15 Hearing on Chapter 11 Plan Approval
----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that MModal Inc., the medical-transcription company
indirectly controlled by JPMorgan Chase & Co., can solicit votes
on its Chapter 11 plan in advance of a July 15 confirmation
hearing to approve the reorganization after U.S. Bankruptcy Judge
Robert E. Grossman on June 4 approved revised disclosure materials
explaining the plan and allowing creditors to vote.

According to the report, the Chapter 11 plan gained the
endorsement of the creditors' committee following negotiations to
modify the so-called plan-support agreement already adopted by
more than the required majorities of secured lenders and unsecured
noteholders.

                          About M*Modal

Headquartered in Franklin, Tennessee, M*Modal provides clinical
documentation solutions for the U.S. healthcare industry.  It has
operations in six countries and employs more than 9,900 employees,
most of whom are medical transcriptionists or medical editors.

M*Modal, a medical-services company owned by J.P. Morgan Chase
Co.'s private-equity arm, filed for Chapter 11 bankruptcy
protection, following a decline in sales and mounting debt.

MModal disclosed $627 million in total assets and $876 million in
total liabilities as of Feb. 28, 2014.  MModal Inc., disclosed, in
its schedules, assets of $36,128,041 plus undetermined amount, and
liabilities of $808,089,536 plus undetermined amount.

Legend Parent Inc. and other M*Modal entities, including MModal
Inc., sought bankruptcy protection (Bankr. S.D.N.Y. Lead Case No.
14-10701) on March 20, 2014.

The Debtors have tapped Dechert LLP as attorneys, Alvarez & Marsal
North America, LLC, as restructuring advisor, Lazard Freres & Co
LLC as investment banker, Deloitte Tax LLP as tax advisor, and
Prime Clerk LLC as claims and noticing agent, and administrative
advisor.

The Joint Plan of Reorganization dated April 25, 2014, provides
that First Lien Claims will be allowed in the aggregate amount of
$507,680,532.  On the effective date, holders of First Lien Claim
will also receive their pro rata share of (i) the New Term Loan,
(ii) 93% of Reorganized Holdings Equity Interests, subject to
dilution solely on account of the New Warrants and Management
Stock Option Plan; and (iii) $8,197,801 in Cash.

Holders of Allowed General Unsecured Claims will receive their pro
rata share of (i) 7% of the Reorganized Holdings Equity Interests;
(ii) the New A Warrants and New B Warrants; and (iii) $617,039 in
Cash.

A Steering Committee for Secured Lenders under the Prepetition
Credit Agreement is represented by Richard Levy, Esq., at Latham &
Watkins LLP.  An Ad Hoc Committee of certain unaffiliated holders
of (i) the Term B loan under the Prepetition Credit Agreement and
(ii) Notes issued under the Indenture is represented by Michael
Stamer, Esq., and James Savin, Esq., at Akin Gump Strauss Hauer &
Feld LLP.

The U.S. Trustee for Region 2 has appointed three members to the
Official Committee of Unsecured Creditors.  Kristopher M. Hansen,
Esq., Frank A. Merola, Esq., and Matthew G. Garofalo, Esq., at
Stroock & Stroock & Lavan LLP, in New York, serve as counsel to
the Committee.  Michael Diaz of FTI Consulting leads the team of
financial advisors to the Creditors' Committee.


MOBILESMITH INC: Inks $5 Million Loan Pact with Comerica Bank
-------------------------------------------------------------
MobileSmith, Inc., on June 9, 2014, entered into a Loan and
Security Agreement with Comerica Bank under which the Company may
borrow up to $5,000,000.  The LSA has the following terms:

   * a maturity date of June 9, 2016;

   * a variable interest rate at prime plus 0.6% (3.85% on the
     date of execution) payable quarterly;

   * secured by substantially all of the assets of the Company,
     including the Company's intellectual property;

   * secured by an extended irrevocable standby letter of credit
     issued by UBS AG (Geneva, Switzerland) with an initial term
     expiring on May 31, 2015, which term will be automatically
     renewed for one year periods, unless notice of non-renewal is
     given by UBS AG at least 45 days prior to the then current
     expiration date; and

   * acceleration of payment of all amounts due thereunder upon
     the occurrence and continuation of certain events of default,
     including but not limited to, failure by the Company to
     perform its obligations and observe the covenants made by it
     under the LSA and insolvency of the Company.

The proceeds of the LSA were used to repay the $5,000,000 IDB
Credit Facility.

Also on June 9, 2014, the Company entered into the Eighth
Amendment to Convertible Secured Subordinated Note Purchase
Agreement, dated Nov. 14, 2007, and the Sixth Amendment to
Convertible Secured Subordinated Promissory Notes with the holders
of a majority of the aggregate outstanding principal amount of the
Notes.  The Eighth Amendment and the Sixth Amendment apply to all
$28,605,000 in principal amount of Notes outstanding as of June 9,
2014, and all future Notes.  As amended, the Notes have the
following terms:

   * a maturity date of the earlier of (i) Nov. 14, 2016, (ii) a
     Change of Control (as defined in the Note Purchase
     Agreement), or (iii) when, upon or after the occurrence of an
     Event of Default (as defined in the Note Purchase Agreement)
     such amounts are declared due and payable by a Noteholder or
     made automatically due and payable in accordance with the
     terms of the Note Purchase Agreement;

   * an interest rate of 8% per year;

   * a total borrowing commitment of $33.3 million;

   * a conversion price that is fixed at $1.43;

   * optional conversion upon Noteholder request, provided that if
     at the time of any particular requested conversion the
     Company does not have a sufficient number of shares of its
     common stock authorized to allow for such conversion as well
     as the issuance of the maximum amount of common stock
     permitted under the Company's 2004 Equity Compensation Plan,
     the Noteholder may request that the Company call a special
     meeting of the stockholders specifically for the purpose of
     increasing the number of shares of common stock authorized to
     cover the remaining portion of the Notes outstanding as well
     as the maximum issuances contemplated pursuant to the
     Company's 2004 Equity Compensation Plan; and

   * the Notes are subordinated to amounts outstanding under the
     LSA.

A full-text copy of the Eight Amendment to Convertible Secured
Subordinated Note Purchase Agreement and Sixth Amendment to
Convertible Secured Subordinated Promissory Notes is available for
free at http://is.gd/flXbup

                        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.

In their report on the consolidated financial statements for the
year ended Dec. 31, 2013, 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.  As of March 31, 2014, the
Company had $1.52 million of total assets, $30.25 million of total
liabilities and a $28.72 million total stockholders' deficit.


MOMENTIVE PERFORMANCE: Restructuring Agreement Draws Flak
---------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Momentive Performance Inc., a producer of silicones
for the semiconductor industry, drew opposition from first and
some second-lien noteholders to the agreement with other second-
lien creditors supporting the reorganization plan worked out
before the Chapter 11 filing on April 13.

According to the report, Fortress Investment Group LLC, a second-
lien noteholder, complained of being omitted from the group
backstopping financing for the reorganization.  BNY Mellon Trust
Co., as indenture trustee for first-lien noteholders, also filed
papers in opposition to the agreement coming to court for approval
on June 19, the report said.

Tiffany Kary, writing for Bloomberg News, reported that Momentive
may also face opposition to the plan's approval at a five-day
trial starting Aug. 14, given that litigation with creditors may
require a "substantial" investigation, according to court papers
filed in court.  Momentive asked U.S. Bankruptcy Judge Robert
Drain to approve a schedule that would wrap up discovery in the
cases by July 25, the Bloomberg report said.

The $635 million in 9 percent second-lien notes due 2021 traded on
June 6 for 72.125 cents on the dollar, Bloomberg cited Trace as
saying.

                   About Momentive Performance

Momentive Performance is one of the world's largest producers of
silicones and silicone derivatives, and is a global leader in the
development and manufacture of products derived from quartz and
specialty ceramics.  Momentive has a 70-year history, with its
origins as the Advanced Materials business of General Electric
Company.  In 2006, investment funds affiliated with Apollo Global
Management, LLC, acquired the company from GE.

As of Dec. 31, 2013, the Company had 4,500 employees worldwide, of
which 46% of the Company's employees are members of a labor union
or are represented by workers' councils that have collective
bargaining agreements.

Momentive Performance Materials Inc., Momentive Performance
Materials Holdings Inc., and their affiliates sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 14-22503) on April 14,
2014, with a deal with noteholders on a balance-sheet
restructuring.

As of Dec. 31, 2013, the Debtors had $4.114 billion of
consolidated outstanding indebtedness, including payments due
within the next 12 months and short-term borrowings.  The Debtors
said that the restructuring will eliminate $3 billion in debt.

The Debtors have tapped Willkie Farr & Gallagher LLP as bankruptcy
counsel with regard to the filing and prosecution of these chapter
11 cases; Sidley Austin LLP as special litigation counsel; Moelis
& Company LLC as financial advisor and investment banker;
AlixPartners, LLP as restructuring advisor; PricewaterhouseCoopers
as auditor; and Crowe Horwath LLP as benefit plan auditor.
Kurtzman Carson Consultants LLC is the notice and claims agent.

The U.S. Trustee for Region 2 appointed seven members to serve on
the Official Committee of Unsecured Creditors of the Debtors'
cases.


MSD PERFORMANCE: Winds Down in Chapter 7 After Sale
---------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that MSD Performance Inc., a designer and producer of
ignition systems and data-acquisition devices for race cars, sold
its business to secured lender Z Capital Partners LLC in December
and will wrap up the liquidation in Chapter 7, where a trustee is
appointed automatically.  According to the report, a bankruptcy
judge in Delaware has officially switched the case to Chapter 7.

                       About MSD Performance

MSD Performance, Inc., headquartered in El Paso, Texas, operates
in the power sports enthusiast and professional racer markets
where the company maintains leading market share positions across
all of its product categories under the MSD Ignition(R),
Racepak(R) and Powerteq(R) brands.  The company's facilities
encompass over 220,000 square feet in six buildings, five of which
are located across the U.S. and one in Shanghai, China.

MSD Performance and its U.S. affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 13-12286) on Sept. 6,
2013.  Ron Turcotte signed the petitions as CEO.  The Debtors
disclosed $30,305,656 in assets and $129,242,63 is liabilities as
of the Chapter 11 filing.

The Debtors' restructuring counsel is Jones Day.  Their investment
banker is SSG Advisors, LLC.  The Debtors are also represented by
Richards Layton and Finger, as local counsel.  Logan & Co. is the
claims and notice agent.

The Official Committee of Unsecured Creditors appointed in the
case retained Blank Rome LLP as counsel, and Carl Marks Advisory
Group LLC as financial advisors.


MT. GOX: CoinLab Backs Ch. 15 Bid, With Conditions
--------------------------------------------------
Law360 reported that bitcoin company CoinLab Inc. has agreed to
back the push of MtGox Co. Ltd. for U.S. bankruptcy protection,
after reaching a deal with the defunct Japanese bitcoin exchange
to protect CoinLab's claims in the case, according to court
documents.

According to the report, CoinLab, which sued Mt. Gox in May 2013
for $75 million over a license agreement that the company claims
Mt. Gox abandoned, said it would not oppose the exchange's bid for
Chapter 15 recognition.

                          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.


NATROL INC: Files for Chapter 11 in Wake of Class Actions
---------------------------------------------------------
Privately held Natrol, Inc. and six affiliated companies on June
11, 2014, filed bare-bones petitions in Delaware seeking relief
under chapter 11 of the U.S. Bankruptcy Code.

According to Reuters, Natrol sought bankruptcy protection a day
after a U.S. judicial panel consolidated several class actions
accusing the health supplement maker of false marketing of its
joint relief products.  Natrol has been the target in the past
year of at least three lawsuits seeking class action status.

According to Reuters, the lawsuits say Natrol's glucosamine-
related supplements cannot provide the advertised benefits of
regenerating cartilage, lubricating joints and providing comfort.

Natrol Inc. estimated $100 million to $500 million in assets and
$50 million to $100 million in debt.

Natrol is a subsidiary of India-based Plethico Pharmaceuticals.
Natrol manufactures and markets a variety of health-related
products, including dietary supplements, herbal teas,
nutraceutical ingredients, and sports nutrition products.  Some of
Natrol's biggest selling brands include its Natrol supplements,
the Laci Le Beau dieter's teas, the Prolab Nutrition sports
nutrition products, and the Promensil and Trinovin supplements for
menopausal women and prostate health.

The Debtors' cases have been assigned to Judge Brendan Linehan
Shannon.  The Debtors are seeking to have their cases jointly
administered for procedural purposes, with all pleadings to be
maintained on the case docket for Natrol, Inc. (Bankr. D. Del.
Lead Case No. 14-11446).

The Debtors have tapped Gibson, Dunn & Crutcher as counsel, and
Young Conaway Stargatt & Taylor, LLP, as co-counsel.  Epiq
Bankruptcy Solutions is the claims and notice agent.


NEUSTAR INC: S&P Puts 'BB' CCR on CreditWatch Negative
------------------------------------------------------
Standard & Poor's Ratings Services said it has placed its 'BB'
corporate credit rating and all other ratings on Sterling, Va.-
based Neustar Inc. on CreditWatch with negative implications.

The negative CreditWatch listing follows an advisory panel's
recommendation to the FCC that the next LNPA contract be awarded
to rival bidder Telcordia, a unit of Sweden's telecommunications
equipment supplier Ericsson.  The FCC is seeking public comment on
the recommendation and will make the final decision on the
selection of a vendor for the contract.

"The LNPA contract is set to expire in June 2015, although we
believe the transition to another service provider could take
longer, given the scope of the conversion and the importance of
ensuring that consumers are able to keep their phone numbers when
switching carriers," said Standard & Poor's credit analyst Allyn
Arden.

Roughly half of Neustar's business is derived from the LNPA
contract, despite recent acquisitions intended to diversify its
base of business.  Additionally, this contract provides Neustar
with a stable, recurring revenue stream through the life of the
contract, which is a key factor in S&P's "fair" business risk
assessment.

While the ultimate outcome has yet to be determined, S&P believes
there is a significantly greater risk that Neustar could lose the
contract, which would have a material impact on the company's
financial risk profile, including its debt to EBITDA, which was
about 1.2x as of March 31, 2014.  S&P's net cash as part of its
leverage calculation based on Neustar's "fair" business risk
assessment although a loss of the contract could prompt S&P to
revise the business risk profile to "weak," in which case it would
no longer net cash.  S&P believes that leverage could be 3.5x or
higher based on lower levels of EBITDA.

S&P plans to resolve the CreditWatch when there is more clarity
regarding the ultimate vendor selection.  A downgrade, if any,
could exceed one notch, depending on S&P's analysis of Neustar's
remaining business segments, financial policy, and longer-term
leverage.


NEW ALBERTSON'S: S&P Revises Outlook to Pos. & Affirms 'CCC+' CCR
-----------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
the Boise, Idaho-based New Albertson's Inc. to positive from
stable.  At the same time, S&P affirmed the 'CCC+' corporate
credit rating and the 'CCC' issue-level rating and '5' recovery
rating on the company's senior unsecured notes.  The '5' recovery
rating indicates S&P's expectation of modest (10%-30%) recovery of
principal in the event of default.  S&P also assigned a 'B' issue-
level rating to the company's $850 million term loan, with a '1'
recovery rating, which indicates S&P's expectation of very high
(90%-100%) recovery of principal in the event of default.

"The outlook revision comes as the company's sales trends have
improved considerably and our belief that the trend could continue
over the near term," said credit analyst Charles Pinson-Rose.  "If
the company can outperform our expectations or if we expect strong
performance at the company's legacy's banners beyond fiscal 2015,
we would consider raising the ratings within six to 12 months.

The outlook is positive which incorporates S&P's view that the
sales and profits should improve this year and S&P may consider a
higher rating if the company can continue outperforming its
expectations and maintain solid growth rates at the NAI banners
beyond the current fiscal year.

Upside Scenario

If the company's reported EBITDA in fiscal 2015 starts tracking a
level that is about 4.5x that of the reported fiscal 2014 level or
about 15% greater than S&P expects, it may consider a higher
rating.  S&P may also consider a higher rating if it believes the
company can sustain strong profit growth rates in fiscal 2016 at
current banners while it successfully integrates the Safeway
Eastern Division.

Moreover, the company has seen considerable sales growth following
its new merchandising, pricing, and promotional strategies.  S&P
would want to be sure that the company's sales gains have led to
sustainable market share gains before considering an upgrade.

Downside Scenario

If the company's profit growth moderates to low- to mid-single-
digit rates in fiscal 2015 from more moderate sales gains or
weaker-than-expected margins, S&P would likely revise the outlook
back to stable.  This scenario would leave leverage near 8x to 9x.


NEWLEAD HOLDINGS: Intends to Pursue Damage Claims v. Ironbridge
---------------------------------------------------------------
NewLead Holdings Ltd. on June 12 disclosed that on June 3, 2014,
NewLead received a Temporary Restraining Order against Ironridge
Global IV, Ltd enjoining the issuance of further common shares of
NewLead pursuant to its Series A Preference Shares.  On June 11,
2014, the United States District Court, Southern District of New
York determined that a Preliminary Injunction against such further
issuance was unavailable because, as a threshold matter, the Court
lacked jurisdiction over Ironridge.

On June 11, 2014, Richard Kreger of Ironridge advised NewLead that
Ironridge would like to reinstitute funding.   The Company advised
Ironridge that NewLead will not accept any further funding, as
NewLead previously provided a default notice and terminated the
relationship because of Ironridge's numerous breaches, (including
failure to provide necessary collateral).  Any funds received from
Ironridge will either be held as security for NewLead's damage
claims in the arbitration, or returned.

Mr. Michael Zolotas, Chairman and Chief Executive Officer of
NewLead, stated "We believe that the Court should have accepted
jurisdiction to prevent Ironridge from continuing to inflict harm
on NewLead through its exercise of 'self-help', pending the
outcome of the arbitration.  However, we intend to vigorously
defend our interests and pursue our claims for significant damages
caused by Ironridge's many bad acts, breaches and
misrepresentations.  We remain concerned that Ironridge has been
and will continue manipulating the stock of NewLead based on
irregularities in Ironridge's disclosed and undisclosed brokerage
relationships and have informed the relevant authorities of these
concerns."

Michael Zolotas continued, "We urge other people who are
considering whether to do business with Ironridge, and their
affiliated principals, John Kirkland, Brendan O'Neil, Richard
Kreger, and Keith Coulston, to carefully consider Ironridge's
course of conduct with NewLead, as well as other companies who
have instituted suits against Ironridge.  While Ironridge presents
itself as a long-term institutional investor on its website and in
conversations with companies, its conduct has proven that it is
unconcerned about the impact of its actions on the health of the
company and solely concerned with its profit."

                     About NewLead Holdings

Based in Athina, Greece, NewLead Holdings Ltd. --
http://www.newleadholdings.com/-- is an international, vertically
integrated shipping company that owns and manages product tankers
and dry bulk vessels.  NewLead currently controls 22 vessels,
including six double-hull product tankers and 16 dry bulk vessels
of which two are newbuildings.  NewLead's common shares are traded
under the symbol "NEWL" on the NASDAQ Global Select Market.

NewLead Holdings reported a net loss of $158.22 million on $7.34
million of operating revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $403.92 million on $8.92 million of
operating revenues in 2012.  The Company's balance sheet at
Dec. 31, 2013, showed $151.33 million in total assets, $292.68
million in total liabilities and a $141.34 million total
shareholders' deficit.

EisnerAmper LLP, in New York, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has incurred a net loss, negative operating cash
flows, a working capital deficiency, and shareholders' deficiency
and has defaulted under its credit facility agreements.  Those
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


NEXT 1 INTERACTIVE: Incurs $18.3 Million Net Loss in Fiscal 2014
----------------------------------------------------------------
Next 1 Interactive, Inc., filed with the U.S. Securities and
Exchange Commission its annual report on Form 10-K disclosing a
net loss of $18.29 million on $1.56 million of total revenues for
the year ended Feb. 28, 2014, as compared with a net loss of $4.23
million on $987,115 of total revenues for the year ended Feb. 28,
2013.

The Company's balance sheet at Feb. 28, 2014, showed $4.49 million
in total assets, $13.90 million in total liabilities and a $9.41
million total stockholders' deficit.

D'Arelli Pruzansky, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Feb. 28, 2014.  The independent auditors noted
that the Company has incurred net losses of $18,295,802 and net
cash used in operations of $4,590,428 for the year ended Feb. 28,
2014, and the Company had an accumulated deficit of $87,625,076
and a working capital deficit of $13,549,796 at Feb. 28, 2014.
These conditions raise substantial doubt about the Company's
ability to continue as a going concern.

                         Bankruptcy Warning

"If we continue to experience liquidity issues and are unable to
generate revenue, we may be unable to repay our outstanding debt
when due and may be forced to seek protection under the federal
bankruptcy laws," the Company said in the Annual Report.

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

                        http://is.gd/OZYQwZ

                      About Next 1 Interactive

Weston, Fla.-based Next 1 Interactive, Inc., is the parent company
of RRTV Network (formerly Resort & Residence TV), Next Trip -- its
travel division, and Next One Realty -- its real estate division.
The Company is positioning itself to emerge as a multi revenue
stream "Next Generation" media-company, representing the
convergence of TV, mobile devices and the Internet by providing
multiple platform dynamics for interactivity on TV, Video On
Demand (VOD) and web solutions.  The Company has worked with
multiple distributors beta testing its platforms as part of its
roll out of TV programming and VOD Networks.  The list of multi-
system operators the Company has worked with includes Comcast,
Cox, Time Warner and Direct TV.  At present the Company operates
the Home Tour Network through its minority owned/joint venture
real estate partner -- RealBiz Media.  As of July 17, 2012, the
Home Tour Network features over 4,300 home listings in four cities
on the Cox Communications network.


OGX PETROLEO: Brazilian Court Clears Restructuring Plan
-------------------------------------------------------
Luciana Magalhaes, writing for The Wall Street Journal, reported
that a Rio de Janeiro court ratified the restructuring plan for
the oil company of Brazilian businessman Eike Batista, according
to the firm's lawyer.

"The plan has been ratified without any changes," lawyer Sergio
Bermudes said in a telephone interview with the Journal. "This
ratification guarantees the company will not be liquidated and
even opens the door for Eike to think about new businesses."

According to the report, once the restructuring is completed,
bondholders that provided $125 million in funding to the company
earlier this year will emerge as the largest stakeholders.  Under
Brazilian law, OGX now has until October 2015 to implement the
restructuring plan, the Journal noted.

                        About OGX Petroleo

Based in Rio de Janeiro, Brazil, OGX Petroleo e Gas Participacoes
S.A., now known as Oleo e Gas, is an independent exploration and
production company with operations in Latin America.

OGX filed for bankruptcy in a business tribunal in Rio de Janeiro
on Oct. 30, 2013, case number 0377620-56.2013.8.19.0001.  The
bankruptcy filing puts $3.6 billion of dollar bonds into default
in the largest corporate debt debacle on record in Latin America.
The filing by the oil company that transformed Eike Batista into
Brazil's richest man followed a 16-month decline that wiped out
more than $30 billion of his personal fortune.

The filing, which in Brazil is called a judicial recovery, follows
months of negotiations to restructure the dollar bonds, in which
OGX sought to convert debt to equity and secure as much as $500
million in new funds. OGX said Oct. 29, 2013, that the talks
concluded without an agreement.


OVERLAND STORAGE: Sheldon Inwentash Reports 5.2% Equity Stake
-------------------------------------------------------------
Sheldon Inwentash and his affiliates disclosed in a Schedule 13G
filed with the U.S. Securities and Exchange Commission that as of
June 3, 2014, they beneficially owned 915,702 shares of common
stock of Overland Storage, Inc., representing 5.2 percent of the
shares outstanding.  A full-text copy of the regulatory filing is
available for free at http://is.gd/yBdxUf

                      About Overland Storage

San Diego, Cal.-based Overland Storage, Inc. (Nasdaq: OVRL) --
http://www.overlandstorage.com/-- is a global provider of unified
data management and data protection solutions designed to enable
small and medium enterprises (SMEs), corporate departments and
small and medium businesses (SMBs) to anticipate and respond to
change.

Overland Storage incurred a net loss of $19.64 million on $48.02
million of net revenue for the fiscal year ended June 30, 2013, as
compared with a net loss of $16.16 million on $59.63 million of
net revenue during the prior fiscal year.

Moss Adams LLP, in San Diego, California, issued a "going concern"
qualification on the consolidated financial statements for the
year ended June 30, 2013, citing recurring losses and negative
operating cash flows which raise substantial doubt about the
Company's ability to continue as a going concern.


OVERSEAS SHIPHOLDING: Amended Chapter 11 Plan Filed
---------------------------------------------------
BankruptcyData reported that Overseas Shipholding Group filed with
the U.S. Bankruptcy Court an Amended Chapter 11 Joint Plan of
Reorganization and related Disclosure Statement, with the
following key components:

   * The payment of the 8.75% Debentures Claims in full in Cash,
     including any applicable contractual interest, the
     Reinstatement of the 8.125% Notes, including payment of any
     applicable contractual or default interest, and the
     Reinstatement of the 7.500% Notes, including payment of any
     applicable contractual interest, or exchange of such Notes to
     those Holders that make a timely election, for Election
     Notes, which mature on February 15, 2021 by each Electing
     Noteholder.

   * Electing Noteholders will also receive accrued but unpaid
     interest from the last coupon payment date through the
     Effective Date.

   * The Reorganized Debtors' entry into the Exit Financing on the
     Effective Date, consisting of two term loan facilities with
     an aggregate principal amount of $1.2 billion and two
     revolving loan facilities with $150 million in aggregate
     availability that, collectively, will provide the Reorganized
     Debtors with the funding necessary to both satisfy the Plan's
     cash payment obligations and the expenses associated with
     closing the Exit Financing facilities, and to finance the
     Reorganized Debtors' ongoing operations and capital needs
     following the emergence from Chapter 11.

   * A Rights Offering in an amount of $1,510 million to all OSG
     Equity Interest holders severally supported by certain
     backstop commitment parties (the "Commitment Parties"), each
     of whom has agreed to purchase its proportionate share of the
     remaining Rights Offering Securities related to any
     unexercised Subscription Rights and further agreed to
     simultaneously purchase its proportionate share of a further
     approximately $447 million of Plan Securities.

                   About Overseas Shipholding

Overseas Shipholding Group, Inc. (OTC: OSGIQ), headquartered in
New York, is one of the largest publicly traded tanker companies
in the world, engaged primarily in the ocean transportation of
crude oil and petroleum products.  OSG owns or operates 111
vessels that transport oil and petroleum products throughout the
world.

Overseas Shipholding Group and 180 affiliates filed voluntary
Chapter 11 petitions (Bankr. D. Del. Lead Case No. 12-20000) on
Nov. 14, 2012, disclosing $4.15 billion in assets and $2.67
billion in liabilities.  Greylock Partners LLC Chief Executive
John Ray serves as chief reorganization officer.  James L.
Bromley, Esq., and Luke A. Barefoot, Esq., at Cleary Gottlieb
Steen & Hamilton LLP serve as OSG's Chapter 11 counsel.  Derek C.
Abbott, Esq., Daniel B. Butz, Esq., and William M. Alleman, Jr.,
at Morris, Nichols, Arsht & Tunnell LLP, serve as local counsel.
Chilmark Partners LLC serves as financial adviser.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

The Export-Import Bank of China, owed $312 million used for the
construction of five tankers, is represented by Louis R. Strubeck,
Jr., Esq., and Kristian W. Gluck, Esq., at Fulbright & Jaworski
LLP in Dallas; David L. Barrack, Esq., and Beret Flom, Esq., at
Fulbright & Jaworski in New York; and John Knight, Esq., and
Christopher Samis, Esq., at Richards Layton & Finger PA.  Chilmark
Partners, LLC serves as financial and restructuring advisor.

Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton LLP, serve
as co-counsel to the official committee of unsecured creditors.
FTI Consulting, Inc., is the financial advisor and Houlihan Lokey
Capital, Inc., is the investment banker.

U.S. Bank National Association is the successor administrative
agent under the $1.5 billion credit agreement, dated as of
February 9, 2006 by and among (a) OSG, OSG Bulk Ships, Inc., and
OSG International, Inc., as joint and several borrowers, (b) the
Administrative Agent and (c) various lenders party thereto.
Counsel to the Administrative Agent are Milbank, Tweed, Hadley &
McCloy LLP; Holland & Knight LLP; and Drinker Biddle & Reath LLP.
Lazard Freres & Co. LLC serves as advisor to the Administrative
Agent.

An official committee of Equity Security Holders has been
appointed in the case.  It is represented by Brown Rudnick LLP's
Steven D. Pohl, Esq., James W. Stoll, Esq. and Jesse N. Garfinkle,
Esq.; Fox Rothschild LLP's Jeffrey M. Schlerf, Esq., John H.
Strock, Esq. and L. John Bird, Esq.

                          *     *     *

In March 2014, OSG filed a plan of reorganization that hinges on a
plan support agreement it struck with lenders holding an aggregate
of approximately 77% of amounts outstanding under the Company's
Unsecured Revolving Credit Facility.  The Debtors and the so-
called Consenting Lenders also agreed to the terms of a
$300,000,000 rights offering, which would be backstopped by the
Consenting Lenders.  The Original Plan generally provided that
creditors' allowed non-subordinated claims against the Debtors
other than claims under the Unsecured Revolving Credit Facility,
would be paid in full, in cash, including post-petition interest,
or reinstated and holders of equity interests and claims
subordinated pursuant to section 510(b) of the Bankruptcy Code
would receive a combination of shares of common stock and warrants
issued by reorganized OSG valued at approximately $61,400,000.
Under the Original Plan, holders of claims arising out of the
Unsecured Revolving Credit Facility would receive their pro rata
share of stock and warrants of the reorganized OSG. In addition,
the Original Plan provided that the 7.50% Unsecured Senior Notes
due in 2024 issued by OSG and the 8.125% Unsecured Senior Notes
due in 2018 issued by OSG will be reinstated, following payment of
outstanding interest.  The Debtors also entered into a commitment
letter with Goldman Sachs Bank USA to provide $935,000,000 in exit
financing to the fund the Debtors' emergence from bankruptcy.

Late in April, following negotiations with equity holders and the
official committee of equity security holders, OSG abandoned the
agreement with the Consenting Lenders as well as the Original
Plan, and filed an amended Plan premised on an equity commitment
agreement with the Equity Holders, who collectively hold
approximately 30% of the outstanding shares of the Company.  Each
Commitment Party has agreed to purchase shares in a rights
offering with an aggregate offering amount of $1,500,000,000, and
committed to purchase shares in respect of unexercised
subscription rights in the rights offering.  The Debtors will
distribute to each Equity Holder one subscription right in respect
of each existing equity interest held by such Equity Holder. So-
called Class B securities carry an entitlement to distribution of
up to 10 % of the net litigation recovery in the malpractice
lawsuit against Proskauer Rose LLP and four of its partners.

The Debtors also abandoned the financing deal with Goldman Sachs
and, instead, accepted the funding offer from Jefferies Finance
LLC, which consisted of (a) a $600,000,000 term loan secured by a
first lien on the Debtors' U.S. Flag assets; (b) a $600,000,000
term loan secured by a first lien on the Debtors' International
Flag assets; (c) a $75,000,000 asset based revolving loan
facility; and (d) a $75,000,000 revolving loan facility.

Hearing on the disclosure statement explaining the Amended Plan as
well as the Equity Commitment Agreement and the exit financing
commitments is scheduled for May 23, 2014.  The Debtors have
proposed a July 14, 2014 Plan confirmation hearing.


OVERSEAS SHIPHOLDING: Seeks Exclusivity Extension Until July 18
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Overseas Shipholding Group Inc., the operator of
vessels in the international market and between U.S. ports, is
seeking an extension of its exclusive right to propose a plan only
up to the July 18 confirmation hearing.

OSG's $300 million in 8.125 percent senior unsecured notes due
2018, to be reinstated under the plan, traded at 1:44 p.m. on June
6 for 119.1 cents on the dollar, Bloomberg said, citing Trace, the
bond-price reporting system of the Financial Industry Regulatory
Authority.  They traded at about par in November and for as little
as 18.75 cents on the day of bankruptcy.

                   About Overseas Shipholding

Overseas Shipholding Group, Inc. (OTC: OSGIQ), headquartered in
New York, is one of the largest publicly traded tanker companies
in the world, engaged primarily in the ocean transportation of
crude oil and petroleum products.  OSG owns or operates 111
vessels that transport oil and petroleum products throughout the
world.

Overseas Shipholding Group and 180 affiliates filed voluntary
Chapter 11 petitions (Bankr. D. Del. Lead Case No. 12-20000) on
Nov. 14, 2012, disclosing $4.15 billion in assets and $2.67
billion in liabilities.  Greylock Partners LLC Chief Executive
John Ray serves as chief reorganization officer.  James L.
Bromley, Esq., and Luke A. Barefoot, Esq., at Cleary Gottlieb
Steen & Hamilton LLP serve as OSG's Chapter 11 counsel.  Derek C.
Abbott, Esq., Daniel B. Butz, Esq., and William M. Alleman, Jr.,
at Morris, Nichols, Arsht & Tunnell LLP, serve as local counsel.
Chilmark Partners LLC serves as financial adviser.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

The Export-Import Bank of China, owed $312 million used for the
construction of five tankers, is represented by Louis R. Strubeck,
Jr., Esq., and Kristian W. Gluck, Esq., at Fulbright & Jaworski
LLP in Dallas; David L. Barrack, Esq., and Beret Flom, Esq., at
Fulbright & Jaworski in New York; and John Knight, Esq., and
Christopher Samis, Esq., at Richards Layton & Finger PA.  Chilmark
Partners, LLC serves as financial and restructuring advisor.

Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton LLP, serve
as co-counsel to the official committee of unsecured creditors.
FTI Consulting, Inc., is the financial advisor and Houlihan Lokey
Capital, Inc., is the investment banker.

U.S. Bank National Association is the successor administrative
agent under the $1.5 billion credit agreement, dated as of
February 9, 2006 by and among (a) OSG, OSG Bulk Ships, Inc., and
OSG International, Inc., as joint and several borrowers, (b) the
Administrative Agent and (c) various lenders party thereto.
Counsel to the Administrative Agent are Milbank, Tweed, Hadley &
McCloy LLP; Holland & Knight LLP; and Drinker Biddle & Reath LLP.
Lazard Freres & Co. LLC serves as advisor to the Administrative
Agent.

An official committee of Equity Security Holders has been
appointed in the case.  It is represented by Brown Rudnick LLP's
Steven D. Pohl, Esq., James W. Stoll, Esq. and Jesse N. Garfinkle,
Esq.; Fox Rothschild LLP's Jeffrey M. Schlerf, Esq., John H.
Strock, Esq. and L. John Bird, Esq.

                          *     *     *

In March 2014, OSG filed a plan of reorganization that hinges on a
plan support agreement it struck with lenders holding an aggregate
of approximately 77% of amounts outstanding under the Company's
Unsecured Revolving Credit Facility.  The Debtors and the so-
called Consenting Lenders also agreed to the terms of a
$300,000,000 rights offering, which would be backstopped by the
Consenting Lenders.  The Original Plan generally provided that
creditors' allowed non-subordinated claims against the Debtors
other than claims under the Unsecured Revolving Credit Facility,
would be paid in full, in cash, including post-petition interest,
or reinstated and holders of equity interests and claims
subordinated pursuant to section 510(b) of the Bankruptcy Code
would receive a combination of shares of common stock and warrants
issued by reorganized OSG valued at approximately $61,400,000.
Under the Original Plan, holders of claims arising out of the
Unsecured Revolving Credit Facility would receive their pro rata
share of stock and warrants of the reorganized OSG. In addition,
the Original Plan provided that the 7.50% Unsecured Senior Notes
due in 2024 issued by OSG and the 8.125% Unsecured Senior Notes
due in 2018 issued by OSG will be reinstated, following payment of
outstanding interest.  The Debtors also entered into a commitment
letter with Goldman Sachs Bank USA to provide $935,000,000 in exit
financing to the fund the Debtors' emergence from bankruptcy.

Late in April, following negotiations with equity holders and the
official committee of equity security holders, OSG abandoned the
agreement with the Consenting Lenders as well as the Original
Plan, and filed an amended Plan premised on an equity commitment
agreement with the Equity Holders, who collectively hold
approximately 30% of the outstanding shares of the Company.  Each
Commitment Party has agreed to purchase shares in a rights
offering with an aggregate offering amount of $1,500,000,000, and
committed to purchase shares in respect of unexercised
subscription rights in the rights offering.  The Debtors will
distribute to each Equity Holder one subscription right in respect
of each existing equity interest held by such Equity Holder. So-
called Class B securities carry an entitlement to distribution of
up to 10 % of the net litigation recovery in the malpractice
lawsuit against Proskauer Rose LLP and four of its partners.

The Debtors also abandoned the financing deal with Goldman Sachs
and, instead, accepted the funding offer from Jefferies Finance
LLC, which consisted of (a) a $600,000,000 term loan secured by a
first lien on the Debtors' U.S. Flag assets; (b) a $600,000,000
term loan secured by a first lien on the Debtors' International
Flag assets; (c) a $75,000,000 asset based revolving loan
facility; and (d) a $75,000,000 revolving loan facility.

Judge Walsh on May 27 issued an order approving the disclosure
statement explaining the Amended Plan.  The Debtors have a
July 18, 2014 Plan confirmation hearing.


PACIFIC VECTOR: Debt Holder Files Notices of Default
----------------------------------------------------
Pacific Vector Holdings Inc. is providing this corporate update
and the bi-weekly Default Status Report in accordance with
National Policy 12-203 - Cease Trade Orders for Continuous
Defaults.  On May 1, 2014 the Company disclosed in the default
notice that, for reasons disclosed in the Default Notice, there
would be a delay in the filing of its annual financial statements,
accompanying Management Discussion and Analysis and related CEO
and CFO certifications of annual filings for the financial year
ended January 7, 2014.

As a result of this delay in filing the Required Filings, a
management cease trade order was granted to the Company.  The MCTO
restricts all trading on the securities of the Company, whether
direct or indirect, by the Chief Executive Officer and the Chief
Financial Officer of the Company until such time as the Required
Filings have been filed by the Company.  The MCTO does not affect
the ability of all other shareholders who are insiders of the
Corporation to trade their securities.

Below is the update on the status of the financing and a corporate
update.

As previously announced, the Company was unable to obtain an
immediate bridge financing which would have allowed for the
payment of current obligations.  As a result, various debt holders
owed a total of three million four hundred thousand dollars have
filed default notices.

The Company's wholly owned subsidiary PVH DNA Inc. entered into an
agreement which rescinds PVH DNA's 51% interest in DNA LLC and
cancels the license that PVH DNA had to sell those brands.  The
Company has terminated all PVH DNA employees with the exception of
an accounting person and has six months to sell the remaining
licensed product.

Since March, the Company's subsidiary, Ryderz Compound Inc. has
closed 32 of its 34 retail locations including 12 last week.  All
of the inventory, from the most recently closed stores, has been
returned to the central warehouse for sale.

The Company has continued to advance the sale of the assets of
Reno Wilson Inc. (Gatorz Eyewear) to a third party for gross
proceeds of approximately $1.2M which is subject to fluctuations
based on the value of the inventory and accounts receivable.  The
purchaser has completed the first draft of the legal agreements
but the documents and structure will need to change as a result of
the notices of default from the debt holders.

The Company is taking legal advice on the next steps for the
Company and its subsidiaries.

                       About Pacific Vector

Pacific Vector is a premier action sports retail and consumer
brands company.


PAINT FACTORY: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: The Paint Factory, L.L.C.
        201 North Rocheblave Street
        New Orleans, LA 70119

Case No.: 14-11508

Chapter 11 Petition Date: June 12, 2014

Court: United States Bankruptcy Court
       Eastern District of Louisiana (New Orleans)

Judge: Hon. Elizabeth W. Magner

Debtor's Counsel: Christopher T. Caplinger, Esq.
                  LUGENBUHL, WHEATON, PECK, RANKIN & HUBBARD
                  601 Poydras Street, Suite 2775
                  New Orleans, LA 70130
                  Tel: (504) 568-1990
                  Fax: (504) 529-7418
                  Email: ccaplinger@lawla.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Phillip Scott Boswell, member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/laeb14-11508.pdf


PANACHE BEVERAGE: Enters Into Restructuring Deal with Consilium
---------------------------------------------------------------
Panache Beverage Inc. on June 12 disclosed that it entered into a
restructuring agreement and related transactions with its senior
secured lender, Consilium Corporate Recovery Master Fund, Ltd. and
certain of the Company's principal shareholders and former
officers and directors.

As part of this transaction, Consilium waived all existing
defaults under the Company's loan agreements, agreed to reduce the
principal amount of indebtedness owed from approximately
$6,922,212 to approximately $5,758,120 and reduced the interest
rate on certain of its loans to the Company to 4% per annum until
December 31, 2015, which interest shall be compounded, capitalized
and added to the unpaid principal amount of the Company's loans
quarterly.  After December 31, 2015, these loans shall bear
interest at 10% per annum.  In connection with these transactions,
Consilium acquired an aggregate 16,629,876 shares from the
Shareholders which had been pledged to Consilium under the
Company's loan documents, and the Shareholders further agreed to
the cancellation of an aggregate 1,200,000 warrants held by them
in return for Consilium's termination of certain Pledge and
Security Agreements with the Shareholders.  The parties to the
forgoing transactions also entered into customary release
agreements.

"The cooperation of the three principals was critical not only to
the future welfare of Panache but also enabled Consilium to leave
the minority shareholders fully intact," comments Charles Cassel,
managing director, Consilium.

This transaction marks a major milestone for Panache having
occurred less than six weeks after the initial announcement of its
executive changes.  "With this restructuring in place we can now
focus on the future -- our brand portfolio is intact, our
distillery plans are on track, our business is running more
efficiently and we're actively reducing debt on the balance
sheet," explains Michael Romer, interim CEO.  He continues, "We
can now work collaboratively with Consilium on a strategic plan to
strengthen our brands and our production capabilities.  We are
fortunate to have a financial partner in Consilium and will
continue to work together to find the right balance to maximize
Panache's potential."

Panache Beverage continues to focus its resources on depletion of
its brands in a concentrated platform, entering into service
agreements at its distillery and looking for new revenue streams.

                      About Panache Beverage

New York-based Panache Beverage, Inc., specializes in the
strategic development and aggressive early growth of spirits
brands establishing its assets as viable and attractive
acquisition candidates for the major global spirits companies.
Panache builds its brands as individual acquisition candidates
while continuing to develop its pipeline of new brands into the
Panache portfolio.

Panache Beverage reported a net loss of $4.58 million in 2013
following a net loss of $3.27 million in 2012.

In their report on the consolidated financial statements for the
year ended Dec. 31, 2013, Silberstein Ungar, PLLC, expressed
substantial doubt about the Company's ability to continue as a
going concern, citing that the Company has limited working capital
and has incurred losses from operations.  Silberstein Ungar also
issued a going-concern qualification following the 2012 results.


PATRIOT COAL: 8th Circ. Won't Reopen Workers' Exposure Claims
-------------------------------------------------------------
Law360 reported that an Eighth Circuit bankruptcy panel declined
to revive complaints filed by coal workers and their families
claiming bankrupt Patriot Coal Corp. unfairly exposed them to
dangerous chemicals.

According to the report, a three-judge panel rejected the workers
arguments that a West Virginia court's dismissal of their claims
was invalid because it was in violation of a stay issued in
Patriot's Chapter 11 case.  The bankruptcy court had already
issued an order sustaining the state court's dismissal and the
group's appeal failed to raise any new issues of law, the appeals
court said, the report related.

The case is In re: Patriot Coal Corp., case number 14-6005, before
the U.S. Bankruptcy Appellate Panel for the Eighth Circuit.

                        About Patriot Coal

St. Louis-based Patriot Coal Corporation (NYSE: PCX) is a producer
and marketer of coal in the eastern United States, with 13 active
mining complexes in Appalachia and the Illinois Basin.  The
Company ships to domestic and international electricity
generators, industrial users and metallurgical coal customers, and
controls roughly 1.9 billion tons of proven and probable coal
reserves.

Patriot Coal and nearly 100 affiliates filed voluntary Chapter 11
petitions in U.S. bankruptcy court in Manhattan (Bankr. S.D.N.Y.
Lead Case No. 12-12900) on July 9, 2012.  Patriot said it had
$3.57 billion of assets and $3.07 billion of debts, and has
arranged $802 million of financing to continue operations during
the reorganization.

Davis Polk & Wardwell LLP serves as lead restructuring counsel.
Bryan Cave LLP serves as local counsel to the Debtors.  Blackstone
Advisory Partners LP is serving as financial advisor, and AP
Services, LLC is providing interim management services to Patriot
in connection with the reorganization.  Ted Stenger, a Managing
Director at AlixPartners LLP, the parent company of AP Services,
has been named Chief Restructuring Officer of Patriot, reporting
to the Chairman and CEO.  GCG, Inc. serves as claims and noticing
agent.

The U.S. Trustee appointed a seven-member creditors committee.
Kramer Levin Naftalis & Frankel LLP serves as its counsel.
Houlihan Lokey Capital, Inc., serves as its financial advisor and
investment banker.  Epiq Bankruptcy Solutions, LLC, serves as its
information agent.

On Nov. 27, 2012, the New York bankruptcy judge moved Patriot's
bankruptcy case to St. Louis.  The order formally sending the
reorganization to Missouri was signed Dec. 19, 2012, by the
bankruptcy judge.  The New York Judge in a Jan. 23, 2013 order
denied motions to transfer the venue to the U.S. Bankruptcy Court
for the Southern District of West Virginia.

Patriot Coal et al., filed with the U.S. Bankruptcy Court for the
Eastern District of Missouri a First Amended Joint Chapter 11
Plan of Reorganization and an explanatory disclosure statement on
Oct. 9, 2013, and a Second Amended Joint Chapter 11 Plan of
Reorganization and an explanatory disclosure statement on Oct. 26,
2013.

The Bankruptcy Court approved the Plan on Dec. 17, 2013.


PETTERS COMPANY: Riemer & Braunstein Okayed as Mass. Counsel
------------------------------------------------------------
Douglas A. Kelley, the Chapter 11 trustee of Petters Company, Inc.
and its debtor-affiliates, sought and obtained permission from the
Hon. Gregory F. Kishel of the U.S. Bankruptcy Court for the
District of Minnesota to employ Riemer & Braunstein LLP as local
counsel in Massachusetts, effective Nov. 1, 2013.

The Chapter 11 Trustee requires Riemer & Braunstein to advise and
represent him and the Bankruptcy Estate's interests with respect
to Zink Imaging, Inc., the Third Amended and Restated Secured
Convertible Promissory Note and related Loan Documents as the Zink
Note matured to protect and enforce the Bankruptcy Estates'
interests under state and federal law, including in connection
with any insolvency proceeding filed by or against Zink.

Riemer & Braunstein will be paid at these hourly rates:

       Jeffrey Ganz, Sr. Partner        $575
       Partners                         $525-$785
       Associates                       $275-$500
       Paralegals                       $145-$240

Riemer & Braunstein will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Jeffrey D. Ganz, senior partner of Riemer & Braunstein, assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Riemer & Braunstein can be reached at:

       Jeffrey D. Ganz, Esq.
       RIEMER & BRAUNSTEIN LLP
       Three Center Plaza, 6th Floor
       Boston, MA 02108
       Tel: (617) 880-3568
       Fax: (617) 692-3568
       E-mail: jganz@riemerlaw.com

                  About Petters Company, Inc.

Based in Minnetonka, Minn., Petters Group Worldwide LLC is a
collection of some 20 companies, most of which make and market
consumer products.  It also works with existing brands through
licensing agreements to further extend those brands into new
product lines and markets.  Holdings include Fingerhut (consumer
products via its catalog and Web site), SoniqCast (maker of
portable, WiFi MP3 devices), leading instant film and camera
company Polaroid (purchased for $426 million in 2005), Sun Country
Airlines (acquired in 2006), and Enable Holdings (online
marketplace and auction for consumers and manufacturers' overstock
inventory).  Founder and chairman Tom Petters formed the company
in 1988.

Petters Company, Inc., is the financing and capital-raising unit
of Petters Group Worldwide.

Thomas Petters, the founder and former CEO of Petters Group, has
been indicted and a criminal proceeding against him is proceeding
in the U.S. District Court for the District of Minnesota.

Petters Company, Petters Group Worldwide and eight other
affiliates filed separate petitions for Chapter 11 protection
(Bankr. D. Minn. Lead Case No. 08-45257) on Oct. 11, 2008.  In its
petition, Petters Company estimated its debts at $500 million and
$1 billion.  Parent Petters Group Worldwide estimated its debts at
not more than $50,000.

Fruth, Jamison & Elsass, PLLC, represents Douglas Kelley, the duly
appointed Chapter 11 Trustee of Petters Company, Inc., et al.  The
trustee tapped Haynes and Boone, LLP as special counsel, and
Martin J. McKinley as his financial advisor.

Petters Aviation, LLC, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc., filed separate petitions for Chapter 11 bankruptcy
protection (Bankr. D. Minn. Case Nos. 08-45136, 08-35197 and
08-35198) on Oct. 6, 2008.  Petters Aviation is a wholly owned
unit of Thomas Petters Inc. and owner of MN Airline Holdings, Sun
Country's parent company.


PHOENIX REALTY: Case Summary & 7 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Phoenix Realty Partners, Inc.
        6515 W. Boynton Beach Blvd., Suite 341
        Boynton Beach, FL 32437

Case No.: 14-40332

Chapter 11 Petition Date: April 22, 2014

Court: United States Bankruptcy Court
       Northern District of Florida (Tallahassee)

Judge: Hon. Karen K. Specie

Debtor's Counsel: David Lloyd Merrill, Esq.
                  OZMENT MERRILL
                  2001 Palm Beach Lakes, Suite 410
                  West Palm Beach, FL 33409
                  Tel: (561) 689-6789
                  Fax: (561) 689-6767
                  Email: david@ombkc.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Louis S. Weltman, president.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/flnb14-40332.pdf

This case was originally filed in the U.S. Bankruptcy Court for
the Southern District of Florida (West Palm Beach).  The venue of
the case was transferred to the U.S. Bankruptcy Court for the
Northern District of Florida (Tallahassee) on June 5, 2014.


PLACID OIL: Order Denying Williameses Tort Claims Affirmed
----------------------------------------------------------
Jimmy Williams and his children brought tort claims against Placid
Oil Company in connection with the allegedly asbestos-related
illness and death of his wife.  The bankruptcy court granted
Placid's motion for summary judgment, and the district court
affirmed.  The U.S. Court of of Appeals for the Fifth Circuit, on
May 27, 2014, affirmed, after concluding that the Williamses were
unknown creditors whose prepetition claims were discharged by
Placid's constructive notice and that Placid's notice was not
substantively deficient.

JIMMY WILLIAMS, SR.; JIMMY WILLIAMS, JR.; DALTON GLEN WILLIAMS;
JEANETTE WILLIAMS SHOWS; GWENDOLYN WILLIAMS PEACOCK, Individually
and on Behalf of the Deceased, Myra Williams, Appellants, v.
PLACID OIL COMPANY, Appellee, NO. 12-11120 (5th Cir.).  A full-
text copy of the Opinion is available at http://is.gd/IyVNmHfrom
Leagle.com.

Placid Oil Company sought chapter 11 protection (Bankr. N.D. Tex.
Case No. 86-33419) on Aug. 29, 1986, owing secured creditors more
than $770 million, unsecured creditors more than $50 million, and
taxing authorities more than $543 million.  The Honorable Harold
C. Abramson confirmed Placid's plan of reorganization on Sept. 30,
1988, and Placid emerged from bankruptcy in mid-1988.


PRESSURE BIOSCIENCES: To Launch PCT-Based Instrument System
-----------------------------------------------------------
Pressure BioSciences, Inc., said it will launch its high
throughput, PCT-based Barozyme HT48 instrument system for the
enhanced preparation of proteins for mass spectrometry analysis at
the upcoming American Society for Mass Spectrometry Annual
Conference on Mass Spectrometry and Allied Topics.  The ASMS
Conference is being held June 15-19, 2014, in Baltimore, Maryland.

The bench-top Barozyme HT48 is a first-in-class, high throughput
PCT-based instrument.  It is capable of processing up to 48
samples simultaneously using the Company's new and proprietary
BaroFlex 8-well processing strips.  The BaroFlex strips were
designed and manufactured to the industry-standard micro-titer
plate format, which the Company believes will allow the new
Barozyme HT48 system to integrate directly with the automated,
standardized, high throughput liquid handling robotic and
analytical systems installed in tens of thousands of biological
research laboratories worldwide.

Dr. Nathan P. Lawrence, vice president of Marketing and Sales,
said: "Unlike today's universally accepted, high throughput micro-
titer plate format that uses an automated and unattended approach,
current PCT instruments use individual processing tubes that
require manual sample handling.  Although this format has been and
we expect will continue to be acceptable for low volume users, we
believe these manual sample handling requirements have prevented
the PCT Platform from being generally adopted by the research
community, the majority of whom depend on automated sample
handling robots in their laboratory workflow.  We believe that the
new Barozyme HT48 instrument and BaroFlex 8-well processing strips
will substantially enhance and accelerate the adoption of the PCT
Platform in the life sciences R&D marketplace."

Mr. Richard T. Schumacher, president and CEO, said: "We believe
the new Barozyme HT48 high throughput system has the potential to
significantly fuel growth and increase revenue for both existing
and new PCT-based applications and products, as soon as in the
second half of 2014.  We also believe that the new Barozyme HT48
high throughput system can greatly facilitate the commencement of
new strategic partnerships.  The PBI Team has worked exceedingly
hard to get to this crucial point.  All PBI stakeholders should be
very proud of their efforts and key accomplishments.  With product
sales increasing, two new instruments released in the first half
of 2014, a successful financial raise over the past six months
(via the Series K PIPE, which the PBI Board of Directors has
extended to June 30, 2014), the prospects for continued success in
2014, and what we believe to be a significantly undervalued stock
price, we believe there may never have been a better time to
consider becoming a shareholder in PBI."

                     About Pressure Biosciences

Pressure BioSciences, Inc., headquartered in South Easton,
Massachusetts, holds 14 United States and 10 foreign patents
covering multiple applications of pressure cycling technology in
the life sciences field.

Pressure Biosciences reported a net loss applicable to common
shareholders of $5.24 million on $1.50 million of total revenue
for the year ended Dec. 31, 2013, as compared with a net loss
applicable to common stockholders of $4.40 million on $1.23
million of total revenue in 2012.

The Company's balance sheet at March 31, 2014, showed $1.71
million in total assets, $2.95 million in total liabilities and a
$1.24 million total stockholders' deficit.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has had recurring net losses and continues to
experience negative cash flows from operations.  The auditors daid
these conditions raise substantial doubt about its ability to
continue as a going concern.


QUIGLEY CO: Pfizer Wins 3rd Straight Asbestos Case
--------------------------------------------------
Law360 reported that a Maryland judge has freed Pfizer Inc. from a
personal injury suit blaming insulation manufactured by its
defunct subsidiary Quigley Co. for a deceased bricklayer's
mesothelioma, marking Pfizer's third straight victory among
asbestos cases that got the go-ahead last year to circumvent
Quigley's bankruptcy shield.

According to the report, Baltimore City Circuit Court Judge John
M. Glynn granted Pfizer summary judgment on claims brought by
plaintiff Harriette Stein on behalf of the decedent Carl Stein.
Part of Baltimore's massive asbestos docket, the suit sought to
hold Pfizer liable under the so-called apparent manufacturer
doctrine for Carl Stein's alleged exposure to Quigley's asbestos-
containing Insulag product.

The case number is 24X12000780 in the Circuit Court For Baltimore
City.

                         About Quigley Co.

Quigley Co. was acquired by Pfizer in 1968 and sold small amounts
of products containing asbestos until the early 1970s.  In
September 2004, Pfizer and Quigley took steps that were intended
to resolve all pending and future claims against the Company and
Quigley in which the claimants allege personal injury from
exposure to Quigley products containing asbestos, silica or mixed
dust. Quigley filed for bankruptcy in 2004 and has a Chapter 11
plan and a settlement with Chrysler.

Quigley filed for Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case No. 04-15739) on Sept. 3, 2004, to implement a
proposed global resolution of all pending and future asbestos-
related personal injury liabilities.

Lawrence V. Gelber, Esq., and Michael L. Cook, Esq., at Schulte
Roth & Zabel LLP, represent the Debtor in its restructuring
efforts.  Elihu Inselbuch Esq., at Caplin & Drysdale, Chartered,
represents the Official Committee of Unsecured Creditors.  When
the Debtor filed for protection from its creditors, it disclosed
$155,187,000 in total assets and $141,933,000 in total debts.

In April 2011, the bankruptcy judge approved a plan-support
agreement with Pfizer and an ad hoc committee representing 30,000
asbestos claimants.

A May 20, 2011 opinion by District Judge Richard Holwell concluded
that Pfizer was directly liable for some asbestos claims arising
from products sold by its now non-operating subsidiary Quigley.
The district court ruling was upheld in the appeals court.

In August 2013, the U.S. District Court reaffirmed the June 28,
2013 U.S. Bankruptcy Court order confirming Quigley's Chapter 11
Plan of Reorganization.  Because this proceeding involved
asbestos-related litigation, both Bankruptcy and District Court
approval was required.


RADIOSHACK CORP: Odds Grow For Co.'s Bankruptcy By Year's End
-------------------------------------------------------------
Jamie Mason, writing for The Deal, reported that troubled
electronics retailer RadioShack Corp. is facing a 50% chance of
having to file for bankruptcy and may need to restructure before
the end of the year, analysts warn.

According to the report, the Fort Worth-based retailer, which has
5,420 retail locations, is burning through cash at a rapid rate as
"steep sales declines persist and cost savings are difficult to
achieve," Scott Tilghman, analyst at B. Riley & Co. LLC, said in a
report.

The Deal, citing filings with the Securities and Exchange
Commission, said RadioShack as of May 3 had total liquidity of
$423.7 million, down more than $130 million from the $554.3
million at the end of the fourth quarter.

                    About Radioshack Corporation

RadioShack (NYSE: RSH) -- -- http://www.radioshackcorporation.com
-- is a national retailer of innovative mobile technology products
and services, as well as products related to personal and home
technology and power supply needs.  RadioShack's retail network
includes more than 4,300 company-operated stores in the United
States, 270 company-operated stores in Mexico, and approximately
1,000 dealer and other outlets worldwide.

Radioshack disclosed a net loss of $139.4 million in 2012, as
compared with net income of $72.2 million in 2011.  The Company's
balance sheet at Sept. 30, 2013, showed $1.60 billion in total
assets, $1.21 billion in total liabilities and $394 million in
total stockholders' equity.

                           *     *     *

As reported by the TCR on Dec. 26, 2013, Standard & Poor's Ratings
Services raised the corporate credit rating on the Fort Worth,
Texas-based RadioShack Corp. to 'CCC+' from 'CCC'.  "The upgrade
reflects an improved liquidity position with a recent financing
that increased funded debt by $125 million and increased the
company's revolving credit borrowing capacity, which improved
the company's liquidity by approximately $200 million," said
credit analyst Charles Pinson-Rose.

In the Dec. 30, 2013, edition of the TCR, Fitch Ratings has
affirmed its 'CCC' Long-term Issuer Default Rating (IDR) on
RadioShack Corporation.  The IDR reflects the significant decline
in RadioShack's profitability and cash flow, which has become
progressively more pronounced over the past two years.

As reported by the TCR on March 6, 2013, Moody's Investors Service
downgraded RadioShack Corporation's corporate family rating to
Caa1 from B3 and probability of default rating to Caa1-PD from B3-
PD.  RadioShack's Caa1 Corporate Family Rating reflects Moody's
opinion that the overall business strategy of the company to
reverse the decline in profitability has not gained any traction.

Troubled Company Reporter, citing The Wall Street Journal,
reported on March 5, 2014, that RadioShack plans to cut back its
store count, after a sharp drop in sales over the holidays left it
with a $400 million loss in 2013.  The electronics retailer said
it could close as many as 1,100 U.S. stores -- one out of every
four that it operates itself -- underscoring the difficulty it has
had adapting to a fast changing consumer landscape.


RENO-SPARKS INDIAN: Fitch Affirms 'BB+' LT Issuer Default Rating
----------------------------------------------------------------
Fitch Ratings takes the following rating action on Reno-Sparks
Indian Colony, NV (RSIC or the colony):

-- Long-term Issuer Default Rating (IDR) affirmed at 'BB+'.

The Rating Outlook is Stable.

Key Rating Drivers

CONTINUING DIVERSIFICATION; IMPROVED FINANCES: Growth in RSIC's
general fund reserves reflects the colony's successful ongoing
diversification from tobacco sales and its prudent cost
management.

ECONOMICALLY SENSITIVE REVENUES REMAIN: RSIC revenues remain
economically sensitive and highly concentrated. Top sales and
excise taxpayers include Wal-Mart and several car dealerships.
Although the Reno economy shows signs of improvement, it remains
vulnerable to economic downturns due to its reliance on the
leisure and tourism industries.

MANAGEABLE DEBT SERVICE: The colony's debt service costs place a
moderate burden on the general fund budget.

RATING SENSITIVITIES

TAXBASE EXPANSION; STRONG FINANCES: Significant expansion and
diversification of the colony's tax base and ongoing financial
flexibility could lead to positive rating action in the medium
term.

Credit Profile

The RSIC is a federally recognized tribe with a reservation
consisting of noncontiguous trust land totaling over 2,000 acres
in and around downtown Reno, Nevada, within Washoe County (the
county). The tribe has approximately 1,081 enrolled members and
employs approximately 300 people, 45% of which are tribal members.
The tribe is governed by an eight-member tribal council and a
tribal chairman, all elected to four year staggered terms.

DEPENDENCE ON SALES TAX REVENUES

The tribe's authority to levy and collect sales and excise taxes
on businesses operating on tribal trust land is generated from an
agreement with the state signed in 1991. The agreement stipulates
that the tribe must charge a rate at least equivalent to the
state's sales and excise tax rate on retail sales activity on
tribal trust land.

The colony maintains an important pricing advantage over its non-
tribal competitors for the tobacco products sold at its five smoke
shops, because the colony does not pay taxes to the state on
tobacco products purchased for sale. There are no other tribally
owned smoke shops in the RSIC service area.

DIVERSIFYING TAX BASE

Fitch views the colony's increasing diversity and path toward tax
base expansion as a credit positive. However, the rating is
constrained by its vulnerability to commercial concentrationand
economically sensitive sales tax revenues.

Fiscal 2013 marked the third consecutive year in which the
colony's non-tobacco business contributed the majority of general
fund revenues. Top Taxpayer, Wal-Mart (rated 'AA', Stable Outlook
by Fitch) opened on colony land in October 2010 and contributed a
significant portion of unaudited fiscal 2013 sales tax receipts.
The majority of remaining non-tobacco sales taxes are generated
from car dealerships including Mercedes, Acura and Infiniti, with
Carmax scheduled to open later this year.

The colony continues its diversification efforts. RSIC will obtain
six acres of commercially suitable land from the state adjacent to
its Wal-Mart site in 2015 in exchange for a restitution center
currently under construction and financed by the colony with an $8
million facility. Debt service on the loan will be repaid from
Walmart taxable sales. The colony's revenue sharing agreement with
the state also provides for revenue sharing with the Washoe County
School District.

GENERAL FUND RESERVE GROWTH

The colony completed fiscal 2012 with $6.2 million in unrestricted
general fund reserves, representing 61% of spending. RSIC's
improved liquidity over the past several years reflects the growth
of nontobacco sales and excise tax revenues as well as the
colony's ability to prudently manage costs.

RSIC reports unaudited fiscal 2013 reserves of $10.5 million (102%
of spending). The $3.9 million operating surplus reflects
continuation of favorable sales tax and saving trends, as well as
elimination of a debt service subsidy on the colony's series 2006
bonds. Fiscal 2013 marks the first year of self-supported debt
service from the colony's health clinic operations. Officials
anticipate favorable fiscal 2014 financial results based on year
to date performance.

RSIC's general fund service spending is focused on tribal court
and administration, public works and education. The colony has
proven consistently conservative on budgeting expenditures but
with a revenue base concentrated in sales taxes, remains
vulnerable to budget shocks. Robust reserves help to mitigate this
risk.

GROWING DEBT PROFILE; MANAGEABLE CARRYING COSTS

Outstanding debt of $19.5 million includes $12.1 million of
outstanding 2006 fixed rated bonds supported by a letter of credit
(LOC) provided by U.S. Bank, National Association. Additionally,
the colony has $6.1 million in outstanding bank loans, and
approximately $700,000 from an $8 million U.S. Bank facility, the
latter of which will be converted to a term loan upon completion
of the restitution center in 2015.

The LOC supporting the series 2006 bonds was auto-renewed and
expires in June 28, 2015. If the LOC is terminated without
substitution, a mandatory tender is triggered. At that point the
bonds become bank bonds and the terms of the indenture specify
that the RSIC must pay the bonds in full within 36 hours or pay a
rate to the bank of 5% above prime until the bonds are paid in
full. Ongoing payments required under a bank bond scenario would
add significant additional stress to the RSIC's financial profile.

Fiscal 2013 general fund debt service equal to 5.2% of
governmental spending declined from 9% in the prior year
reflecting the health clinic's funding of series 2006 debt. Fitch
estimates the colony's general fund debt service to increase to a
moderate 7% by 2015 reflecting amortization of the 2013
restitution center loan. The increased debt service payments will
be taken off the top of sales tax revenues generated by Wal-Mart.


RICEBRAN TECHNOLOGIES: Annual Meeting Set on August 19
------------------------------------------------------
RiceBran Technologies has scheduled its 2014 annual meeting of
shareholders to be held at Scottsdale Plaza Resort, 7200 N.
Scottsdale Road, Scottsdale, Arizona, 85253, on Aug. 19, 2014, at
9:00 a.m., Pacific Daylight Time.

The 2014 Annual Meeting is being held more than 30 days after the
anniversary of the Company's prior annual meeting of shareholders,
which was held on June 18, 2013.

The bylaws of the Company set forth when a shareholder must
provide notice to the Company of nominations and other business
proposals that the shareholder wants to bring before the 2014
Annual Meeting.  The Shareholder Notice, contained in Article II,
Sections 12 and 13 of the Company's bylaws, generally prescribes
the procedures that a shareholder of the Company must follow if
the shareholder intends (i) to nominate a person for election to
the Company's Board of Directors at an annual or special meeting
of shareholders called for the purpose of electing directors, or
(ii) to propose other business to be considered by shareholders at
an annual or special meeting of the shareholders.  These
procedures include, among other things, that the shareholder give
timely notice to the Secretary of the Company of the nomination or
other proposed business, that the notice contain specified
information, and that the shareholder comply with certain other
requirements.

In accordance with the bylaws of the Company relating to a change
in the Annual Meeting date by more than 30 days after the
anniversary of the Company's prior annual meeting of shareholders,
notice by the shareholder must be received by the Secretary at the
registered office of the Company by the date which is 10 calendar
days after the date of announcement or other notification to
shareholders of the dates of the Annual Meeting.  Accordingly, in
order for a shareholder proposal to be considered for inclusion in
the Company's proxy statement for the 2014 Annual Meeting or for
shareholder business initiated by a shareholder to be brought
before the 2014 Annual Meeting, the shareholder must deliver a
notice of such nomination or proposal to the Company's Secretary
on or before 5:00 p.m., Pacific Daylight Time on Monday, June 23,
2014, and comply with the requirements of the Bylaws.

Notices should be addressed in writing to: J. Dale Belt,
Secretary, RiceBran Technologies, 6720 N. Scottsdale Road, Suite
390, Scottsdale, AZ.

                           About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

RiceBran Technologies reported a net loss of $17.64 million on
$35.05 million of revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $11.13 million on $37.72 million of
revenues for the year ended Dec. 31, 2012.

As of March 31, 2014, the Company had $52.66 million in total
assets, $40.78 million in total liabilities, $6.42 million in
temporary equity and $5.44 million in total equity attributable to
the Company shareholders.

BDO USA, LLP, in Phoenix, Arizona, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations
resulting in an accumulated deficit of $219 million at Dec. 31,
2013.  This factor among other things, raises substantial doubt
about its ability to continue as a going concern.


ROCKWELL MEDICAL: To Issue 1.7MM Shares Under 2007 Incentive Plan
-----------------------------------------------------------------
Rockwell Medical, Inc., filed with the U.S. Securities and
Exchange Commission a Form S-8 registration statement to register
1,750,000 shares of common stock issuable under the Company's .
Amended and Restated 2007 Long Term Incentive Plan, as amended.
The proposed maximum aggregate offering price is $19,075,000.  A
full-text copy of the Form S-8 prospectus is available at:

                        http://is.gd/baV9Yd

                          About Rockwell

Rockwell Medical, Inc. (Nasdaq: RMTI), headquartered in Wixom,
Michigan, is a fully-integrated biopharmaceutical company
targeting end-stage renal disease ("ESRD") and chronic kidney
disease ("CKD") with innovative products and services for the
treatment of iron deficiency, secondary hyperparathyroidism and
hemodialysis (also referred to as "HD" or "dialysis").

Rockwell's lead investigational drug is in late stage clinical
development for iron therapy treatment in CKD-HD patients.  It is
called Soluble Ferric Pyrophosphate ("SFP").  SFP delivers iron to
the bone marrow in a non-invasive, physiologic manner to
hemodialysis patients via dialysate during their regular dialysis
treatment.

Rockwell Medical reported a net loss of $48.78 million in 2013, a
net loss of $54.02 million in 2012 and a net loss of $21.44
million in 2011.  The Company's balance sheet at March 31, 2014,
showed $26.79 million in total assets, $30.32 million in total
liabilities and a $3.52 million total shareholders' deficit.


ROVI CORP: S&P Assigns 'BB-' Rating to $1BB Credit Facilities
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'BB-'
issue-level and '2' recovery ratings to Rovi Corp.'s proposed
$1 billion credit facilities.  The proposed credit facilities
consist of a $200 million revolving credit facility due 2019, a
$100 million term loan A due 2019, and a $700 million term loan B
due 2021.  Proceeds from the proposed transaction will be used to
refinance existing debt.

S&P's 'B+' corporate credit rating on Rovi is affirmed and the
outlook remains stable.

"The 'B+' corporate credit rating incorporates our assumption of
flattish revenue growth in 2014 and into 2015 as modest growth in
core operations offsets an expected decline in analog copy
protection, healthy discretionary cash flow, and moderately high
debt leverage that we do not expect to decline meaningfully," said
Standard & Poor's credit analyst Andy Liu.

The rating outlook is stable.  With the sale of DivX, Rovi
effectively unwinded the Sonic Solution acquisition completed in
2010.  S&P expects flattish performance in 2014 and 2015 as the
decline in analog copy protection more or less offsets growth in
the service provider and consumer electronic segments.

S&P considers the probability of an upgrade or downgrade equally
unlikely.  If Rovi is able to sign new over-the-top content
distributor (OTT) licensees and achieve organic revenue growth
exceeding 5% in 2014 and S&P concludes that this will extend over
the following several years, it could raise the ratings.
Additionally, if Rovi enters a licensing agreement with Comcast
Corp. in 2016 for a sizable portion of its subscribers, that could
potentially cause S&P to raise the rating as well.

If shareholder return initiatives, acquisitions, or revenue
declines near 10% that raise doubts about the value of Rovi's
patents cause debt leverage to approach 5x, S&P could lower the
rating.


SANCHEZ ENERGY: S&P Assigns 'B-' Rating to $700MM Unsecured Notes
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it has assigned its
'B-' issue-level rating (one notch lower than the corporate credit
rating) and '5' recovery rating to Houston-based exploration and
production company Sanchez Energy Corp.'s proposed $700 million
senior unsecured notes due 2023.  The '5' recovery rating
indicates S&P's expectation of modest (10% to 30%) recovery in the
event of payment default.  Under S&P's methodology, recovery
expectations under its default scenario are at the very low end of
the range for S&P's '5' recovery rating.

The company plans to use the proceeds from the proposed notes to
fund its pending Catarina acquisition, to repay borrowings on its
credit facility, and for general corporate purposes.

The ratings on Sanchez Energy Corp. reflect S&P's view of the
company's "weak" business risk, "aggressive" financial risk, and
"adequate" liquidity.  The ratings incorporate Sanchez's limited
scale of operations, short proved developed reserve life, and
continued cash flow deficits in 2014 and 2015 as per S&P's
forecast.  Ratings also reflect improving asset diversity, solid
financial measures, and expectations for continued strong growth
in reserves and production.

Ratings List

Sanchez Energy Corp.
Corporate credit rating                       B/Positive/--

New Rating

Sanchez Energy Corp.
$700 million sr unsecd notes due 2023         B-
  Recovery rating                              5


SECUREALERT INC: Files Financial Reports of Acquired Businesses
---------------------------------------------------------------
SecureAlert, Inc., amended its current report on Form 8-K filed
with the U.S. Securities and Exchange Commission on March 18,
2014, reporting its acquisition of GPS Global Tracking and
Surveillance System Ltd. (A Development Stage Company) an Israeli
corporation.  Under Item 9.01 of the Original 8-K, the Company
stated that (a) the audited financial statements of GPS Global
Tracking and Surveillance System Ltd., as of Sept. 30, 2013, and
for the year then ended and for the period from July 31, 2008,
(Inception) through Sept. 30, 2013, the notes related thereto and
the related independent report of registered public accounting
firm would be filed no later than 71 days following the date that
the Original 8-K was required to be filed, and (b) pro forma
financial information would be filed by amendment by amendment no
later than 71 days following the date that the Original 8-K was
required to be filed.

Accordingly, on June 16, 2014, the Company filed with the SEC
the audited consolidated financial statements of GPS Global
Surveillance System, a copies of which are available for free at:

                          http://is.gd/y4jSBv
                          http://is.gd/7MyN5Y
                          http://is.gd/jeJC6X

                          About SecureAlert

Sandy, Utah-based SecureAlert, Inc., markets and deploys offender
management programs, combining patented GPS tracking technologies,
fulltime 24/7/365 intervention-based monitoring capabilities and
case management services.

SecureAlert incurred a net loss attributable to the Company's
common stockholders of $18.95 million for the year ended Sept. 30,
2013, following a net loss attributable to the Company's common
stockholders of $19.93 million for the fiscal year ended Sept. 30,
2012.

Hansen, Barnett & Maxwell, P.C., in Salt Lake City, Utah, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Sept. 30, 2013.  The independent
auditors noted that the Company has incurred losses, negative cash
flows from operating activities, notes payable in default and has
an accumulated deficit.  These conditions raise substantial doubt
about its ability to continue as a going concern.

The Company's balance sheet at March 31, 2014, showed $44.80
million in total assets, $18.71 million in total liabilities and
$26.08 million in total equity.


SOLID ROCK COMMUNITY: Case Summary & 16 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Solid Rock Community Outreach, Inc.
        1260 Springhill Ave
        Mobile, AL 36604

Case No.: 14-01876

Nature of Business: Church

Chapter 11 Petition Date: June 10, 2014

Court: United States Bankruptcy Court
       Southern District of Alabama (Mobile)

Judge: Hon. William S. Shulman

Debtor's Counsel: Lawrence B. Voit, Esq.
                  SILVER, VOIT & THOMPSON P.C.
                  4317-A Midmost Dr.
                  Mobile, AL 36609-5507
                  Tel: (251) 343-0800
                  Fax: (251) 343-0862
                  Email: lvoit@silvervoit.com

Total Assets: $1.08 million

Total Liabilities: $1.73 million

The petition was signed by /John D. Young, Jr., pastor.

A list of the Debtor's 16 largest unsecured creditors is available
for free at http://bankrupt.com/misc/alsb14-01876.pdf


SPOGAIN INVESTMENTS: Case Summary & Largest Unsecured Creditors
---------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

        Debtor                                   Case No.
        ------                                   --------
        Spogain Investments, LLC                 14-23525
        10570 SW 77 Terrace
        Miami, FL 33173

        Ramblewood Properties, Inc.              14-23532
        10570 SW Terrace
        Miami, FL 33173

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: June 12, 2014

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

Judge: Hon. Laurel M Isicoff

Debtors' Counsel: Geoffrey S. Aaronson, Esq.
                  AARONSON SCHANTZ P.A.
                  100 SE 2nd St # 2700
                  Miami, FL 33131
                  Tel: 786.594.3000
                  Email: gaaronson@aspalaw.com

                                Estimated    Estimated
                                 Assets     Liabilities
                               ----------   -----------
Spogain Investments, LLC       $1MM-$10MM   $100K-$500K
Ramblewood Properties, Inc.    $1MM-$10MM   $1MM-$10MM

The petitions were signed by Evan Olster, managing member.

Spogain Investments listed Kane & Co Company, P.A., as its largest
unsecured creditor holding a claim of $4,000 for accounting
services.  A full-text copy of the petition is available for free
at http://bankrupt.com/misc/flsb14-23525.pdf

A list of Ramblewood's six largest unsecured creditors is
available for free at http://bankrupt.com/misc/flsb14-23532.pdf


STARR PASS: Case Summary & 4 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Starr Pass Residential LLC
        3645 W. STARR PASS BLVD.
        Tucson, AZ 85745

Case No.: 14-09117

Chapter 11 Petition Date: June 12, 2014

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

Judge: Hon. Brenda Moody Whinery

Debtor's Counsel: Jody A. Corrales, Esq.
                  GUST ROSENFELD, P.L.C.
                  One E. Washington Street, Suite 1600
                  Phoenix, AZ 85004
                  Tel: 602-257-7471
                  Fax: 602-254-4878
                  Email: jcorrales@gustlaw.com

Total Assets: $7.40 million

Total Liabilities: $145.86 million

The petition was signed by Christopher Ansley, authorized officer.

List of Debtor's Four Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
Douglas P. Wilson, Receiver        Assignment rents    $117,000
c/o Snell & Wilmer
One S. Church Ave., Suite, 1500
Tucson, AZ 85701

F Christopher Ansley               Legal Fees          $300,000
3702 W. Tohono Crossing Pl.
Tucson, AZ 85745

Fennemore Craig                    Legal Fees          $450,000
One S. Church Ave., Suite 1000
Tucson, AZ 85701

US Bank, NA, Trustee for                           $145,000,000
Credit Suisse
c/o Ballard Spahr
1 E. Washington St., Suite 2300
Phoenix, AZ 85004


STARTER HOMES: Case Summary & 7 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Starter Homes, LLC
        990 Naugatuck Avenue
        Milford, CT 06461

Case No.: 14-31037

Chapter 11 Petition Date: May 29, 2014

Court: United States Bankruptcy Court
       District of Connecticut (New Haven)

Judge: Hon. Julie A. Manning

Debtor's Counsel: Douglas S. Skalka, Esq.
                  NEUBERT, PEPE, AND MONTEITH, P.C.
                  195 Church Street, 13th Floor
                  New Haven, CT 06510
                  Tel: (203) 821-2000
                  Fax: 203-821-2009
                  Email: dskalka@npmlaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by  Julia Kish, member.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/ctb14-31037.pdf


STOCKTON, CA: City Argues for End to Bankruptcy In Last Trial Day
-----------------------------------------------------------------
Robin Respaut, writing for Reuters, reported that in the final day
of a trial to determine if Stockton, California, is ready to end
its two-year pilgrimage through Chapter 9 bankruptcy protection,
the city argued its plan to handle its liabilities to creditors,
public workers and the state's pension fund was fair and
equitable.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that when the City concluded a four-day hearing for
approval of its municipal debt-adjustment plan on June 4, the
bankruptcy judge said he will issue two opinions, the first coming
down perhaps on July 8.

According to Reuters, the trial's proceedings on June 4, plus the
four days of hearings in May, mainly focused on the Northern
California city's holdout creditor -- two funds managed by
Franklin Templeton Investments -- which the city has proposed to
offer less than a penny on the dollar.  But the $3.7 trillion
municipal bond market is closely watching this trial for an
additional reason: to see how the court handles the treatment of
pension obligations, which the city has proposed to leave
untouched, Reuters said.

                      About Stockton, Calif.

The City of Stockton, California, filed a Chapter 9 petition
(Bankr. E.D. Cal. Case No. 12-32118) in Sacramento on June 28,
2012, becoming the largest city to seek creditor protection in
U.S. history.  The city was forced to file for bankruptcy after
talks with bondholders and labor unions failed.  Stockton
estimated more than $1 billion in assets and in excess of
$500 million in liabilities.

The city, with a population of about 300,000, identified the
California Public Employees Retirement System as the largest
unsecured creditor with a claim of $147.5 million for unfunded
pension costs.  In second place is Wells Fargo Bank NA as trustee
for $124.3 million in pension obligation bonds.  The list of
largest creditors includes $119.2 million owing on four other
series of bonds.

The city is being represented by Marc A. Levinson, Esq., and John
W. Killeen, Esq., at Orrick, Herrington & Sutcliffe LLP.  The
petition was signed by Robert Deis, city manager.

Mr. Levinson also represented the city of Vallejo, Cal. in its
2008 bankruptcy.  Vallejo filed for protection under Chapter 9
(Bankr. E.D. Cal. Case No. 08-26813) on May 23, 2008, estimating
$500 million to $1 billion in assets and $100 million to $500
million in debts in its petition.  In August 2011, Vallejo was
given green light to exit the municipal reorganization.   The
Vallejo Chapter 9 plan restructures $50 million of publicly held
debt secured by leases on public buildings.  Although the Plan
doesn't affect pensions, it adjusts the claims and benefits of
current and former city employees.  Bankruptcy Judge Michael
McManus released Vallejo from bankruptcy on Nov. 1, 2011.

The bankruptcy judge on April 1, 2013, ruled that the city of
Stockton is eligible for municipal bankruptcy in Chapter 9.


TENET HEALTHCARE: Fitch Assigns 'B-' Rating to $500MM Unsec. Notes
------------------------------------------------------------------
Fitch Ratings has assigned a 'B-/RR5' rating to Tenet Healthcare
Corp.'s $500 million 5% senior unsecured notes due 2019. Proceeds
will be used to refinance the 9.25% senior notes due 2015.  The
Rating Outlook is Stable.

The ratings apply to approximately $11.3 billion of debt as of
March 31, 2014.

Key Rating Drivers:

-- During fourth-quarter 2013 Tenet acquired Vanguard Health
Systems (VHS), a competing for-profit hospital operator, in an
all-cash transaction valued at $4.3 billion. The acquisition was
entirely debt funded, resulting in pro forma leverage of 5.7x.

-- Fitch views the purchase of Vanguard as strategically sound,
because it will enhance the geographic scope of Tenet's portfolio
of acute-care hospitals and add operational diversification
through VHS' health plan business. The strategic rationale for
consolidation in the hospital industry is encouraged by reforms
favoring larger, integrated systems of care delivery, including
the Affordable Care Act (ACA).

-- The most important risks to Tenet's credit profile are the
company's strained free cash flow (FCF) and industry lagging
profitability. VHS has several large ongoing capital expansion
projects, the funding of which will further pressure cash flows in
2014-2015.

-- Given Tenet's negative FCF profile and the high degree of
operating leverage inherent in the business model of a hospital
company, persistently weak growth in organic patient utilization
in the for-profit hospital sector is a concern.

VHS Acquisition Strategically Sound But Stresses Balance Sheet:
Tenet's fourth-quarter 2013 acquisition of VHS was entirely debt
financed. The company issued $1.8 billion of secured notes and
$2.8 billion of unsecured notes. This nearly exhausted its
capacity for additional debt secured on a pari passu basis to the
existing secured notes per the terms of the notes indentures. It
also resulted in pro forma leverage of 5.7x and interest coverage
of 2.6x.

On a stand-alone basis, the financial profiles of both Tenet and
VHS were fairly weak relative compared to the industry peer group.
Both companies had high leverage, generated weakly positive or
negative FCF, and had industry-lagging EBITDA margins. Weak
profitability was partly a business mix issue; Tenet's outpatient
operations were historically lacking, and VHS' health plans pulled
down overall profitability. In addition to weak profitability,
cash generation was strained by high-cost debt and aggressive
capital spending.

Fitch thinks the additional scale and broader geographic footprint
resulting from the acquisition will aid the recent progress that
both companies were making in addressing headwinds to their
financial profiles. Synergies are a time-proven component of
return on investment in hospital acquisitions, and the strategic
rationale for consolidation in the industry is further encouraged
by reforms favoring larger, integrated systems of care delivery,
including the Affordable Care Act (ACA).

Despite the apparent benefits, Fitch believes the integration of
VHS presents some risk to Tenet's credit profile. The company is
forecasting that it will achieve $50 million to $100 million of
EBITDA growth due to realization of cost synergies in 2014. Fitch
believes this is a reasonable number based on the size of the
business and the relatively lower operating margins of VHS.
However, Tenet does not have a track record of successfully
integrating hospital acquisitions; most of the company's recent
purchases have been of small outpatient assets.

Operating Trend in-line with Broader Industry:

Tenet's Q1'14 same-hospital operating results showed the headwinds
to patient volume exhibited across the industry, with admissions
adjusted for outpatient activity down 0.4%, although volume growth
was a more favorable 0.3% considering the contribution of
Vanguard's facilities. Weak organic growth is expected to continue
in 2014; Tenet's public guidance for the year includes -2% to flat
growth in admissions. Despite this challenging operating
environment, Fitch thinks Tenet's business profile includes
several opportunities to boost profitability and generate
sustainable growth in EBITDA.

The most important near-term drivers of improvement in the
operating profile include Tenet's recent investment in building
its outpatient capacity, the anticipated completion of some of the
large capital projects in VHS' construction schedule during 2014,
and growth of Tenet's Conifer Health Solutions business. All of
these initiatives should contribute to sustainable growth in
EBITDA and higher operating margins.

Weak FCF Profile:

Tenet's liquidity profile is adequate aside from its persistently
negative FCF (equals cash from operations less capital
expenditures and dividends). At March 31, 2014, liquidity was
provided by $141 million of cash on hand and $825 million of
availability on the $1 billion capacity bank revolver. Following
the redemption of the $474 million 9.25% unsecured notes maturing
in February 2015 with proceeds of the new 5% notes, near-term debt
maturities are minimal. Redemption of the 2015 notes also
eliminates the potential for the springing maturity of the credit
facility to fourth-quarter 2014.

Tenet's limited financial flexibility, most particularly its
negative FCF profile, has been the major issue constraining the
company's ratings over the past several years. The rate of cash
burn had been incrementally improving due to improving operating
margins and the refinancing of high-cost debt, but progress
reversed somewhat in 2013 and in the LTM ended March 31, 2014
Tenet produced FCF of negative $237 million. Negative FCF was
partly the result of the VHS acquisition, which contributed to
higher cash outflows for acquisition-related expenses, capital
expenditures and interest expense in fourth-quarter 2013.

Fitch expects Tenet to generate positive but thin FCF in 2014,
with an FCF margin below 1%. VHS is committed to capital
investments in some of its recently acquired markets. However, the
funding of these projects will support growth in EBITDA over the
longer term. Some of the in-progress projects, including a heart
hospital in Detroit, MI and a general acute care hospital in New
Braunfels, TX are scheduled to open in 2014. Fitch projects annual
run rate capital expenditures of about $950 million in 2014
through early 2015 to support this schedule of projects before the
level of spending moderates starting in mid-2015.

RATING SENSITIVITIES:

Maintenance of the 'B' Issuer Default Rating (IDR) will require an
expectation of debt to EBITDA dropping to near 5.0x by mid-2015.
There could be a tolerance for higher leverage at the 'B' IDR (up
to 5.5x) assuming there is improvement in the FCF forecast
supported by stabilization of organic operating trends in Tenet's
largest hospital markets and the on-time and on-budget completion
of Vanguard's schedule of capital projects.

The Stable Outlook reflects Fitch's belief that the 5.0x leverage
target is achievable, based mostly on EBITDA expansion driven by
organic growth in the business, as opposed to the realization of
synergies or the application of cash to debt reduction. Given
Tenet's strained FCF, opportunities to pay down debt are limited.
If the company chooses to fund share repurchases with debt and
delay deleveraging, it could result in a downgrade of the ratings.
A positive rating action is unlikely over the next two to three
years.

Debt Issue Ratings:

Fitch currently rates Tenet as follows:

-- IDR 'B';
-- Senior secured credit facility and senior secured notes
   'BB/RR1';
-- Senior unsecured notes 'B-/RR5'.

The Recovery Ratings are based on a financial distress scenario
which assumes that value for Tenet's creditors will be maximized
as a going concern (rather than a liquidation scenario). Fitch
estimates a post-default EBITDA for Tenet of $1.1 billion, which
is a 40% haircut to pro forma EBITDA of $1.825 billion considering
the contribution of VHS. Fitch's post-default cash flow estimate
for companies in the hospital sector considers the structure of
the industry, including relatively stable and non-cyclical cash
flows, a high level of exposure to cuts in government payor
reimbursement that makes up 30-40% of revenues, offset by the
consideration that hospital care is a critical public service.

Fitch then applies a 7.0x multiple to post-default EBITDA,
resulting in a post-default enterprise value (EV) of $7.7 billion
for Tenet. The multiple is based on observation of both recent
transactions/takeout and public market multiples in the healthcare
industry. Fitch significantly haircuts the transaction/takeout
multiple assigned to healthcare providers since transactions in
this part of the healthcare industry tend to command lower
multiples. The 7.0x multiple also considers recent trends in the
public equity market multiples for healthcare providers.

Fitch applies a waterfall analysis to the post-default EV based on
the relative claims of the debt in the capital structure.
Administrative claims are assumed to consume 10% of post-default
EV. Fitch assumes that Tenet would draw $500 million or 50% of the
available capacity on the $1 billion revolver in a bankruptcy
scenario, and includes that amount in the claims waterfall. The
revolver is collateralized by patient accounts receivable, and
Fitch assumes a reduction in the borrowing base in a distressed
scenario, limiting the amount Tenet can draw on the facility.

The 'BB/RR1' rating for Tenet's secured debt, which includes the
bank credit facility and the senior secured notes, reflects
Fitch's expectation of 100% recovery under a bankruptcy scenario.
The 'B-/RR5' rating on the unsecured notes reflects Fitch's
expectations of recovery of 21% of outstanding principal. The bank
facility is assumed to be fully recovered before the secured
notes. The bank facility is secured by a first-priority lien on
the patient accounts receivable of all of the borrower's wholly
owned hospital subsidiaries, while the secured notes are secured
by the capital stock of the operating subsidiaries, making the
notes structurally subordinate to the bank facility with respect
to the accounts receivable collateral.


TOP SHIPS: Closes Underwritten Public Offering of Shares
--------------------------------------------------------
Top Ships Inc. on June 12 closed its underwritten public offering
of 10,000,000 shares of its common stock, and warrants to purchase
5,000,000 common shares, at $2.00 per common share and $0.00001
per warrant.  The warrants have an exercise price of $2.50 per
share, are exercisable immediately, and will expire five years
from the date of issuance.  Top Ships has granted the underwriters
a 45-day option to purchase up to an additional 1,500,000 common
shares and/or up to 750,000 additional warrants to cover over-
allotments, if any.  The underwriters have partially exercised
this option to purchase 330,000 additional warrants.

The gross proceeds from this offering before deducting the
underwriting discount and other offering expenses payable by the
Company were $20,000,050.  The net proceeds of this offering are
expected to be used to finance part of Top Ship's contractual
commitments in relation to its fleet and for working capital and
general corporate purposes.

Aegis Capital Corp. acted as the sole book-running manager of the
offering.

The offering was made pursuant to a registration statement that
was declared effective by the Securities and Exchange Commission
on June 6, 2014.  A final prospectus relating to the offering is
available on the SEC's website, www.sec.gov

Copies of the final prospectus may be obtained from Aegis Capital
Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New
York, NY, 10019, telephone: 212-813-1010 or email:
prospectus@aegiscap.com

                       About Top Ships Inc.

Located in Maroussi, Greece, Top Ships Inc. (Nasdaq: TOPS) is a
provider of international seaborne transportation services,
carrying petroleum products and crude oil for the oil industry
and drybulk commodities for the steel, electric utility,
construction and agriculture-food industries.  As of May 1, 2013,
its fleet consists of seven owned vessels, including six tankers
and one drybulk vessel.

                       Going Concern Doubt

Deloitte Hadjipavlou, Sofianos & Cambanis S.A., in Athens,
Greece, expressed substantial doubt about Top Ships' ability to
continue as a going concern, citing the Company's recurring
losses from operations and stockholders' capital deficiency.

The Company reported a net loss of US$64.0 million on
US$31.4 million of total revenues in 2012, compared with a net
loss of US$189.1 million on US$80.6 million of total revenues in
2011.

The Company's balance sheet at Dec. 31, 2012, showed
US$211.4 million in total assets, US$198.3 million in total
liabilities, and stockholders' equity of US$13.1 million.


UC HOLDINGS: S&P Affirms 'B-' CCR After $25MM Add-On Notes
----------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on Southfield, Mich.-based auto supplier UC Holdings
Inc. (UC).  The outlook is stable.

The company intends use the proceeds of the proposed $25 million
add-on to an existing $350 million of 9.25% senior secured notes
due 2018 at the borrower Chassix Inc. to repay borrowings under
its asset-backed revolver (ABL; unrated).  S&P has affirmed the
'B-' issue-level rating on the notes.  The recovery rating on
these notes remains unchanged at '4', indicating S&P's expectation
of average (30%-50%) recovery in the event of a payment default.

S&P also affirmed the 'CCC' issue rating to the $125 million
payment-in-kind (PIK) toggle notes due 2018, issued by Chassix
Holdings Inc., a holding company in the group structure.  The
recovery rating on these notes is '6', indicating S&P's
expectation of negligible (0%-10%) recovery in the event of a
payment default.

The company also plans to increase the size of its ABL revolver by
$25 million to $150 million.

"The ratings affirmation reflects our view that UC's financial
policy will remain very aggressive and its credit metrics remain
weak but consistent with our prior expectations," said Standard &
Poor's credit analyst Nishit Madlani.

UC manufactures casts and machines and assembles fully engineered
chassis and powertrain components and modules for mostly U.S.-
based automotive original equipment manufacturers and tier 1
suppliers.

Standard & Poor's ratings on UC reflects the combined entity's
concentrated customer mix and limited geographic diversity amid
multiple industry risks that automotive suppliers face, including
volatile demand, high fixed costs, intense competition, and severe
pricing pressures, which largely offsets S&P's expectation that
North American production should continue to rise.  Further
constraining the rating are the group's weak, albeit gradually
improving, EBITDA margins compared with peers.

The stable rating outlook reflects S&P's view that UC's credit
metrics and liquidity will remain consistent with the 'B-' rating
over the next 12 months.


US COAL CORP: Involuntary Chapter 11 Case Summary
-------------------------------------------------
Alleged Debtor: U.S. Coal Corporation
                101 Helm Street, Suite 150
                Lexington, KY 40505

Case Number: 14-51461

Involuntary Chapter 11 Petition Date: June 10, 2014

Court: United States Bankruptcy Court
       Eastern District of Kentucky (Lexington)

Judge: Hon. Tracey N. Wise

Petitioner's Counsel: Daniel I. Waxman, Esq.
                      WYATT TARRANT & COMBS LLP
                      250 W Main St #1600
                      Lexington, KY 40507-1746
                      Tel: (859) 233-2012
                      Fax: (859) 259-0649
                      Email: Lexbankruptcy@wyattfirm.com

Alleged Debtor's petitioner:

  Petitioners                     Nature of Claim  Claim Amount
  -----------                     ---------------  ------------
Kolmar Americas, Inc.             Business debt     $1,360,504
10 Middle Street
Bridgeport, CT 06604

Wyatt Tarrant, on behalf of Kolmar Americas, filed two involuntary
Chapter 11 petitions against U.S. Coal on June 10 (Case Nos.
14-51460 and 14-51461).  The next day, Wyatt Tarrant sought
dismissal of Case No. 14-51460 as a duplicate filing.  The Motion
to Dismiss was granted on June 13.

Affiliates of U.S. Coal that are debtors in their own Chapter 11
proceedings:

     -- In re Licking River Resources, Inc., Case No. 14-10203
(Bankr. E.D. Ky., Ashland Div.);

     -- In re S.M. & J. Inc., Case No. 14-10220 (Bankr. E.D. Ky.,
Ashland Div.);

     -- In re Fox Knob Coal Co., Inc., Case No. 14-60619 (Bankr.
E.D. Ky., London Div.);

     -- In re J.A.D. Coal Company Inc., Case No. 14-60676 (Bankr.
E.D. Ky., London Div.)


VERITEQ CORP: Inks Rights to Shares Agreement with Alpha Capital
----------------------------------------------------------------
VeriTeQ Corporation entered into a Right to Shares Agreement with
Alpha Capital Anstalt effective as of June 10, 2014.

On Nov. 13, 2013, the Company issued to Alpha Capital a warrant to
purchase shares of the Company's common stock pursuant to a
securities purchase agreement dated Nov. 13, 2013.  Under the
terms of the Rights Agreement, the Holder exercised the Warrant on
a cashless exercise basis pursuant to Section 1(d) of the Warrant
and pursuant thereto was entitled to receive 15,199,410 Warrant
Shares but has agreed to accept the lesser amount of 11,500,000
Warrant Shares in full satisfaction of the complete exercise of
the Warrant.

In lieu of presently issuing all of the Warrant Shares, the
Company and the Holder have agreed to enter into the Rights
Agreement whereby the Company will presently issue 495,711 Warrant
Shares and subject to the terms and conditions set forth in the
Rights Agreement, from time to time, the Company will be obligated
to issue and the Holder will have the right, to the issuance of up
to 11,004,289 Warrant Shares, subject to certain adjustments.  The
Company and the Holder hereby agree that no additional
consideration is payable in connection with the issuance of the
Reserved Shares.

The Holder will not have the Right to the exercise of any portion
of the Reserved Shares to the extent that after giving effect to
such issuance after exercise, the Holder, would beneficially own
in excess of the 4.99% of the number of shares of the Company's
common stock outstanding immediately after giving effect to the
issuance of shares of the Company's common stock issuable upon
exercise of the Right.  The Holder may decrease the 4.99%
ownership limitation at any time and the Holder, upon not less
than 61 days' prior notice to the Company, may increase the
beneficial ownership limitation provided that the beneficial
ownership limitation may in no event exceed 9.99% of the number of
shares of the Company's common stock outstanding immediately after
giving effect to the issuance of shares of the Company's common
stock upon exercise of the Right.

A full-text copy of the Right to Shares Agreement is available for
free at http://is.gd/pnV9fT

                            About VeriTeQ

VeriTeQ (formerly known as Digital Angel Corporation) develops
innovative, proprietary RFID technologies for implantable medical
device identification, and dosimeter technologies for use in
radiation therapy treatment.  VeriTeQ offers the world's first FDA
cleared RFID microchip technology that can be used to identify
implantable medical devices, in vivo, on demand, at the point of
care.  VeriTeQ's dosimeters provide patient safety mechanisms
while measuring and recording the dose of radiation delivered to a
patient in real time.  For more information on VeriTeQ, please
visit www.veriteqcorp.com .

Veriteq Corporation reported a net loss of $15.07 million on
$18,000 of sales for the year ended Dec. 31, 2013, as compared
with a net loss of $1.60 million on $0 of sales for the year ended
Dec. 31, 2012.  As of March 31, 2014, the Company had $7.97
million in total assets, $15.19 million in total liabilities and a
$7.21 million total stockholders' deficit.

EisnerAmper LLP, in New York, New York, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has incurred recurring net losses, and at Dec. 31,
2013, had negative working capital and a stockholders' deficit.
These events and conditions raise substantial doubt about the
Company's ability to continue as a going concern.


VICTORY ENERGY: Files Copy of June 2014 Investor Presentation
-------------------------------------------------------------
Representatives of Victory Energy Corporation made a presentation
on June 13, 2014, at the Newport Coast Securities 2014 National
Sales & Equity Conference in New York, New York.  On June 25,
2014, representatives of Victory Energy Corporation intend to make
a presentation at the GHS Energy 100 Energy Conference in Chicago,
Illinois.  A copy of the presentation is available for free at:

                        http://is.gd/EL5Vbq

                       About Victory Energy

Austin, Texas-based Victory Energy Corporation is engaged in the
exploration, acquisition, development and exploitation of domestic
oil and gas properties.  Current operations are primarily located
onshore in Texas, New Mexico and Oklahoma.

Victory Energy reported a net loss of $2.11 million on $735,413 of
total revenues for the year ended Dec. 31, 2013, as compared with
a net loss of $7.09 million on $326,384 of total revenues in 2012.

As of March 31, 2014, the Company had $3.22 million in total
assets, $1.50 million in total liabilities and $1.71 million in
total stockholders' equity.

Weaver & Tidwell, LLP, in Fort Worth, Texas, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company has experienced recurring losses since its
inception and has an accumulated deficit.  These conditions raise
substantial doubt regarding the Company's ability to continue as a
going concern.


W.R. GRACE: Former Worker's Rep Lacked Standing to Pursue Claim
---------------------------------------------------------------
Judge James Jeremiah Shea of the Workers' Compensation Court of
Montana issued an order on April 8, 2014, denying jurisdiction
over the case captioned CRISTITA MOREAU, as Personal
Representative of the Estate of Edwin Moreau Petitioner, v.
TRANSPORTATION INS. CO. Respondent/Insurer, WCC NO. 2013-3216
(MTWCC), holding that the petitioner has no standing to pursue the
action against the respondent, accordingly, the Court has no
jurisdiction over the matter.  In this case, petitioner, acting as
representative of the estate of Edwin Moreau, sought payment from
Transportation of medical bills incurred by Edwin who suffered and
died from an occupational disease arising out of and in the course
of his employment with W.R. Grace & Co.  A full-text copy of Judge
Shea's Order is available at http://is.gd/d18uolfrom Leagle.com.

                        About W.R. Grace

Headquartered in Columbia, Maryland, W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally.  Grace employs
approximately 6,500 people in over 40 countries and had 2012 net
sales of $3.2 billion.

The company and its debtor-affiliates filed for chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).

The Debtors are represented by Adam Paul, Esq., and John Donley,
P.C., Esq., at Kirkland & Ellis LLP, in Chicago, Illinois; Roger
Higgins, Esq., at The Law Offices of Roger Higgins, in Chicago,
Illinois; and Laura Davis Jones, Esq., James E. O'Neill, Esq.,
and Timothy P. Cairns, Esq., at Pachulski Stang Ziehl & Jones,
LLP, in Wilmington, Delaware.

The Debtors hired Blackstone Group, L.P., for financial advice.
PricewaterhouseCoopers LLP is the Debtors' accountant.

Stroock & Stroock & Lavan, LLP, and Duane Morris, LLP, represent
the Official Committee of Unsecured Creditors.  The Creditors
Committee tapped Capstone Corporate Recovery LLC for financial
advice.

Roger Frankel serves as legal representative for victims of
asbestos exposure who may file claims against W.R. Grace.  Mr.
Frankel, a partner at Orrick Herrington & Sutcliffe LLP, replaces
David Austern, who was appointed to that role in 2004.  Mr.
Frankel has served as legal counsel for Mr. Austern who passed
away in May 2013.  The FCR is represented by Orrick Herrington &
Sutcliffe LLP as counsel; Phillips Goldman & Spence, P.A., as
Delaware co-counsel; and Lincoln Partners Advisors LLC as
financial adviser.

Herrington & Sutcliffe LLP and Phillips Goldman & Spence, PA.
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, and Marla
R. Eskin, Esq., at Campbell & Levine, LLC, represent the Official
Committee of Asbestos Personal Injury Claimants.  The Asbestos
Committee of Property Damage Claimants tapped Scott Baena, Esq.,
and Jay M. Sakalo, Esq., at Bilzin Sumberg Baena Price & Axelrod,
LLP, to represent it.  Thomas Moers Mayer, Esq., at Kramer Levin
Naftalis & Frankel, LLP, represents the Official Committee of
Equity Security Holders.

W.R. Grace obtained confirmation of a plan co-proposed with the
Official Committee of Asbestos Personal Injury Claimants, the
Official Committee of Equity Security Holders, and the Asbestos
Future Claimants Representative.   The Chapter 11 plan is built
around an April 2008 settlement for all present and future
asbestos personal injury claims, and a subsequent settlement for
asbestos property damage claims.

District Judge Ronald Buckwalter on Jan. 31, 2012, entered an
order affirming the bankruptcy court's confirmation of the Plan.
Bankruptcy Judge Judith Fitzgerald had approved the Plan on
Jan. 31, 2011.

W.R. Grace defeated four appeals from approval of the Plan.  A
fifth appeal was by secured bank lenders claiming the right to
$185 million of interest at the contractual default rate.
Pursuant to a settlement announced in December 2013, lenders are
to receive $129 million in settlement of the claim for additional
interest.


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 96.46 cents-on-
the-dollar during the week ended Friday, June 13, 2014, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 0.35
percentage points from the previous week, The Journal relates.
Walter Energy pays 300 basis points above LIBOR to borrow under
the facility.  The bank loan matures on March 14, 2018.  The bank
debt carries Moody's B2 rating and Standard & Poor's B+ rating.
The loan is one of the biggest gainers and losers among 249 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.


XZERES CORP: Incurs $9.5 Million Net Loss in Fiscal 2014
--------------------------------------------------------
XZERES Corp. filed with the U.S. Securities and Exchange
Commission its annual report disclosing a net loss of $9.49
million on $4.05 million of gross revenues for the year ended
Feb. 28, 2014, as compared with a net loss of $7.59 million on
$4.51 million of gross revenues during the prior year.

The Company's balance sheet at Feb. 28, 2014, showed $8.07 million
in total assets, $13.37 million in total liabilities and a $5.30
million total stockholders' deficit.

Silberstein Ungar, PLLC, in Bingham Farms, Michigan, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Feb. 28, 2014.  The independent
auditors noted that  the Company has incurred losses from
operations, has negative working capital, and is in need of
additional capital to grow its operations so that it can become
profitable.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.

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

                        http://is.gd/XnD1YS

                         About XZERES Corp.

Headquartered in Wilsonville, Oregon, XZERES Corp. designs,
develops, and markets distributed generation, wind power systems
for the small wind (2.5kW-100kW) market as well as power
management solutions.


YARWAY CORP: Defendant Allowed to Subpoena Bankruptcy Trusts
------------------------------------------------------------
On April 25, 2014, Plaintiff in the lawsuit captioned DONALD
WILLIS and VIOLA WILLIS, Plaintiffs, v. BUFFALO PUMPS, INC., et
al., Defendants, CASE NO. 12CV744-BTM (DHB)(S.D. Calif.), filed a
Motion to Quash Defendant John Crane Inc.'s Subpoenas to
Bankruptcy Trusts requesting all correspondence between the trusts
and Mr. Willis relating to claims, settlements, requests,
documents or files.  Defendants John Crane and Foster Wheeler
Energy Corporation have opposed the motion and the Plaintiff has
filed a Reply.  Having considered the arguments of the parties and
the applicable law, Magistrate Judge David H. Bartick of the
United States District Court for the Southern District of
California, granted in part the Plaintiff's Motion to Quash, and
modified John Crane's subpoenas to the Bankruptcy Trusts.  A full-
text copy of the Decision dated June 2, 2014, is available at
http://is.gd/5BNK8Sfrom Leagle.com.

Viola Willis, Plaintiff, represented by Lance Randall Stewart,
Esq., and William Y. Sung, Esq., at Napoli Bern Ripka Shkolnik &
Associates, LLP.

Buffalo Pumps, Inc., Defendant, represented by Glen R. Powell,
Esq., at Gordon & Rees, LLP.

Crane, Co., Defendant and Cross Claimant, represented by Stephen
P. Farkas, Esq. -- stephen.farkas@klgates.com -- and Bradley
William Gunning, Esq. -- brad.gunning@klgates.com -- at K&L Gates
LLP; and Kathleen L. Beiermeister, Esq. --
kbeiermeister@meagher.com -- at Meagher and Geer PLLP.

CBS Corporation, Individually and as Successor-In-Interest to
Westinghouse Electric Corporation), Cross Defendant, represented
by Kevin D Jamison, Esq., Kimberly Lynn Rivera, Esq., and Previn A
Wick, Esq. -- pwick@pondnorth.com -- at Pond North LLP.

Foster Wheeler Energy Corporation, Defendant and Cross Defendant,
represented by Charles Park, Esq., at Brydon Hugon & Parker.

John Crane, Inc., Defendant and Cross Defendant, represented by
Andrew S. Russell, Esq. -- arussell@hptylaw.com -- Julia A. Gowin,
Esq. -- jgowin@hptylaw.com -- and Michael B. Giaquinto, Esq. --
mgiaquinto@hptylaw.com -- at Hawkins Parnell Tackston and Young
LLP.

Metalcad Insulation Corporation, Defendant and Cross Defendant,
represented by Bradford J. DeJardin, Esq., Courtney Vaudreuil,
Esq., and Mary T. McKelvey, Esq., at McKenna Long & Aldridge LLP.

Warren Pumps, LLC, Defendant and Cross Defendant, represented by
John F. Hughes, Esq., at Law Offices of Gordon & Rees, LLP.

Yarway Corporation, Defendant, represented by Meghan Phillips,
Esq. -- meghan.phillips@morganlewis.com -- at Morgan, Lewis &
Bockius, LLP.

                    About Yarway Corporation

Yarway Corporation sought Chapter 11 protection (Bankr. D. Del.
Case No. 13-11025) on April 22, 2013, to deal with claims arising
from asbestos containing products it allegedly sold as early as
the 1920s.

Yarway was founded in 1908 by Robert Yarnall and Bernard Waring as
the Simplex Engineering Company and originally manufactured pipe
clamps, steam traps, valves and controls.  Based in Pennsylvania,
Yarway was a privately-owned company until 1986 when KeyStone
International, Inc. bought equity in the company.  Yarway became a
unit of Tyco International Ltd. when Tyco purchased KeyStone in
1997.

Yarway's asbestos-related liabilities derive from Yarway's (i)
purported use of asbestos-containing gaskets and packing,
manufactured by others, in its production of steam valves and
traps from the 1920s to 1970s, and (ii) alleged manufacture of
expansion joint packing that was allegedly made up of a compound
of Teflon and asbestos from the 1940s to the 1970s.

Over the past five years, about 10,021 new asbestos claims have
been asserted against Yarway, including 1,014 in Yarway's 2013
fiscal year ending March 31, 2013.

The Debtor estimated assets and debts in excess of $100 million as
of the Chapter 11 filing.

Attorneys at Cole, Schotz, Meisel, Forman & Leonard, P.A. and
Sidley Austin LLP serve as the Debtor's counsel in the Chapter 11
case.  Logan and Co. is the claims and notice agent.

On May 6, 2013, the U.S. Trustee for Region 3, appointed an
official committee of asbestos personal injury claimants.  The
Committee tapped Elihu Inselbuch, Esq. at Caplin & Drysdale,
Chartered, as lead bankruptcy counsel.


* Atty Liable in Hospital Takeover Scheme, Panel Rules
------------------------------------------------------
Law360 reported that a Texas appeals court ruled that attorney
immunity did not protect an attorney from being held liable for an
alleged fraud for conspiring to take possession of three hospitals
that a group of investors had purchased out of bankruptcy.

According to the report, a three-judge panel reversed a lower
court's finding that found Eric Yollick had been proven to have
committed fraud during his dealings with First National Bank and
Merensky Reef Hospital Corp., but that there was no evidence to
make him personally liable for investor losses. Yollick had argued
that the economic-loss rule and attorney immunity bar the
appellants from any recovery against him, but the panel found he
had played a role in misleading the investors during the takeover,
the report related.

The case is JJJJ Walker LLC et al. v. Erix Yollick, case number
14-13-00161-cv, in the Fourteenth Court of Appeals for the State
of Texas.


* Bank Fraud Liability May Grow If High Court Acts
--------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the U.S. Supreme Court is deciding whether to take
two cases that could give banks more liability for remaining
silent if they suspect fraud.

According to the report, on June 5, the Securities Investor
Protection Corp., charged by Congress with liquidating failed
brokers, invited the Supreme Court to hear two cases -- one is the
liquidation of Bernard L. Madoff Investment Securities LLC, while
the other deals with R. Allen Stanford's fraud -- seeking to
enable brokerage trustees and receivers to sue banks when ordinary
bankruptcy trustees can't under existing law.  If the high court
takes the cases, brokerage trustees and receivers appointed by the
Securities and Exchange Commission, if they emerge victorious,
would have the green light to sue, the report said.

The Madoff case in the Supreme Court is Picard v. JPMorgan Chase &
Co., 13-448, U.S. Supreme Court (Washington). The Stanford case is
Janvey v. Alguire, 13-913, U.S Supreme Court (Washington).

                     About Bernard L. Madoff

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

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

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

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

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

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

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

                       About Stanford Group

The Stanford Financial Group was a privately held international
group of financial services companies controlled by Allen
Stanford, until it was seized by United States (U.S.) authorities
in early 2009.

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under
management or advisement.  Stanford Private Wealth Management
served more than 70,000 clients in 140 countries.

On Feb. 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and
records of Stanford International Bank, Ltd., Stanford Group
Company, Stanford Capital Management, LLC, Robert Allen Stanford,
James M. Davis and Laura Pendergest-Holt and of all entities they
own or control.  The February 16 order, as amended March 12,
2009, directs the Receiver to, among other things, take control
and possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.

The case in district court was Securities and Exchange Commission
v. Securities Investor Protection Corp., 11-mc-00678, U.S.
District Court, District of Columbia (Washington).

The U.S. Securities and Exchange Commission, on Feb. 17, charged
before the U.S. District Court in Dallas, Texas, Mr. Stanford and
three of his companies for orchestrating a fraudulent, multi-
billion dollar investment scheme centering on an US$8 billion
Certificate of Deposit program.

A criminal case was pursued against him in June before the U.S.
District Court in Houston, Texas.  Mr. Stanford pleaded not
guilty to 21 charges of multi-billion dollar fraud, money-
laundering and obstruction of justice.  Assistant Attorney
General Lanny Breuer, as cited by Agence France-Presse News, said
in a 57-page indictment that Mr. Stanford could face up to 250
years in prison if convicted on all charges.  Mr. Stanford
surrendered to U.S. authorities after a warrant was issued for
his arrest on the criminal charges.


* Lawyer Denied Judicial Immunity for Violating Automatic Stay
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that a lawyer who prepares an order at the direction of a
state judge in a lawsuit that may violate the automatic stay isn't
entitled to judicial immunity, according to a June 4 opinion by
the U.S. Court of Appeals in San Francisco.

According to the report, in a case involving a dispute over who
was entitled to proceeds from a lawsuit by an individual who filed
bankruptcy, Circuit Judge Sidney R. Thomas, in a 2-1 opinion, said
that extending judicial immunity beyond the judge entails analysis
of the "function performed" and not the person who performed the
function.  He noted that the Ninth Circuit gives qualified
judicial immunity to bankruptcy trustees and the U.S. Trustee, the
report said.

The case is Infinity Capital Management v. Israel (In re Burton),
12-15618, U.S. Court of Appeals for the Ninth Circuit (San
Francisco).


* Evicted Tenant Still Can Raise Stay Violation Claim
-----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that possession of property is enough to cause a willful
stay violation even though the property's owner had a judgment of
eviction, the Bankruptcy Appellate Panel for the Ninth Circuit in
San Francisco ruled on May 30.

According to the report, in a case where the former owner of a
home filed a Chapter 13 petition, the bankruptcy judge found a
stay violation when a sheriff executed an eviction warrant and
locked out the former owner from the home.  The former owner tthen
sued the buyer for violating the automatic stay.  The three-judge
Appellate Panel agreed in an unsigned opinion, the report said.

The case is Eden Place LLC v. Perl (In re Perl), 13-1328, U.S.
Bankruptcy Appellate Panel for the Ninth Circuit (San Francisco).


* Expense of Jailing a Child Survives Parents' Bankruptcy
---------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the cost of incarcerating a miscreant child in
California is a debt not discharged in bankruptcy as a result of
2005 amendments to Section 523(a)(5) of the Bankruptcy Code,
according to a June 4 opinion by the Bankruptcy Appellate Panel
for the Ninth Circuit in San Francisco.

According to the report, as interpreted by the California
appellate panel, the new law can make parents financially
responsible when their minor children break the law, and that debt
can't be wiped out by filing bankruptcy.

The case is Rivera v. Orange County Probation Department (In re
Rivera), 13-1476, U.S. Ninth Circuit Bankruptcy Appellate Panel
(San Francisco).


* Rule Makers Tighten Accounting for 'Repos'
--------------------------------------------
Michael Rapoport, writing for The Wall Street Journal, reported
that rule makers closed a loophole in the accounting for a key
form of financing used by securities firms and that both Lehman
Brothers Holdings Inc. and MF Global Holdings Inc. used to make
themselves appear healthier before they collapsed.

According to the report, the Financial Accounting Standards Board,
which sets accounting rules for U.S. companies, agreed to tighten
the accounting for repurchase agreements, or "repos," in which
securities firms borrow money on a short-term basis and put up
securities as collateral with the promise to buy them back later.

Under the new rule, which takes effect in 2015, most repos will be
treated as borrowings?including "repos to maturity," a variation
on traditional repos that was a central part of MF Global's
strategy, the Journal said.


* BofA Mortgage Talks Said to Stall as U.S. Prepares Suit
---------------------------------------------------------
Tom Schoenberg and Hugh Son, writing for Bloomberg News, reported
that the U.S. Department of Justice is preparing to sue Bank of
America Corp. after reaching an impasse in talks to resolve
government probes of the lender's sales of mortgage-backed bonds
before the financial crisis, a person familiar with the matter
said.

According to the report, citing a person who asked not to be
identified because the discussions are private, the Justice
Department broke off negotiations last week because it was
dissatisfied with the bank's offer to pay more than $12 billion,
which included at least $5 billion in consumer relief.  The
department's latest settlement request was for about $17 billion,
though negotiators were willing to consider less, the person said,
the report said.


* BNP Paribas Fine Seen Eclipsing Past U.S. Sanctions Cases
-----------------------------------------------------------
Tom Schoenberg, writing for Bloomberg News, reported that BNP
Paribas SA's settlement talks with the U.S. over sanctions
violations have headed out of the ballpark, compared with previous
punishments levied by the Obama administration in such cases.

According to the report, the U.S. has been said to seek more than
$5 billion or even $10 billion during talks in the past month -- a
penalty higher than the combined $4.9 billion levied against 21
other banks for transactions tied to sanctioned countries since
President Barack Obama took office.


* Citigroup SEC Accord Revived as Agency Power Strengthened
-----------------------------------------------------------
Patricia Hurtado, writing for Bloomberg News, reported that
Citigroup Inc.'s $285 million mortgage-securities pact with the
U.S. Securities and Exchange Commission was revived as an appeals
court assailed a judge's demand for more evidence backing up the
regulator's claims.

According to the report, the bank challenged U.S. District Judge
Jed Rakoff's refusal in 2011 to approve the accord, which would
resolve SEC claims the bank misled investors in a $1 billion
financial product linked to risky mortgages, costing investors
more than $600 million.  Judge Rakoff, who has also criticized the
agency practice of not requiring an admission of wrongdoing in
settlements, said the parties didn't give him "any proven or
admitted facts" he could use to gauge the deal's fairness, the
report said.  The court on June 5 cited the SEC's purview to
tailor settlements as it sees fit, saying Judge Rakoff abused his
discretion by requiring it first establish the "truth" of the
allegations against the bank, the report related.

The case is U.S. Securities and Exchange Commission v. Citigroup
Global Markets Inc., 11-05227, U.S. Court of Appeals for the
Second Circuit (New York).


* College Graduates Struggle to Find Employment Worth a Degree
--------------------------------------------------------------
Janet Lorin and Jeanna Smialek, writing for Bloomberg News,
reported that the unemployment rate for college graduates ages 22
to 27 fell to 5.6 percent in 2013 from 6.4 percent at the
recession's peak in 2009.  Among 22-year-old degree holders who
found jobs in the past three years, more than half were in roles
not requiring a college diploma, John Schmitt, a labor economist
for the Center for Economic and Policy Research in Washington,
told Bloomberg.  Almost five years into the recovery, the young
and educated are settling for jobs they wouldn't have accepted a
decade ago, Kevin Scott, an Atlanta-based consultant who works
with employers, told Bloomberg.


* EU Ministers Back Proposal on Cross-Border Bankruptcies
---------------------------------------------------------
Rebecca Christie, writing for Bloomberg News, reported that
ministers of the European Union approved proposals that could
allow businesses that go bust across borders in the EU to seek
restructuring over immediate liquidation.

According to the Bloomberg report, the new bankruptcy rules would
make it easier to restructure a failing business and would provide
rules for determining legal jurisdiction, the European Commission
said in a statement.  The proposals aim to give creditors a better
chance to recoup their investment than if a troubled business were
liquidated immediately, the Bloomberg report related.

Law360, citing the same statement, said the newly adopted
proposals will make it easier to save companies in cross-border
insolvency cases from being liquidated, thus saving more jobs, and
will make it easier to restructure groups of companies and
increase creditors' chances of being repaid.


* Legislative Assault on the Financial Stability Oversight Council
------------------------------------------------------------------
Stephen J. Lubben, writing for The New York Times' DealBook,
reported that two new bills are pending in the House that relate
to the Financial Stability Oversight Council and its ability to
designate which parts of the financial system are "too big to
fail" and thus in need of greater regulatory scrutiny. Both show
how political the entire issue has become, the DealBook said.

According to the report, the first bill puts a moratorium on any
more such designations until after the November elections.  Even
less subtle is the bill introduced by Representative Scott
Garrett, Republican of New Jersey and a member of the House
Financial Services Committee, which purports to be aimed at
increasing transparency at the council, but its real aim is
clearly to muck up the workings of the council, which was created
as part of the Dodd-Frank financial overhaul law, the report said.


* Risk of Banks Dodging Rules Leads to U.S. FDIC Scrutiny
---------------------------------------------------------
Jesse Hamilton and Silla Brush, writing for Bloomberg News,
reported that the U.S. regulator responsible for making sure banks
aren't too-big-to-fail is examining whether the biggest firms are
shifting trades overseas in a way that may undermine rules
designed to prevent a repeat of the 2008 financial crisis.

According to the report, in recent months, large banks have
restructured their overseas transactions in an effort to trade
swaps -- contracts blamed for exacerbating the crisis -- outside
of rules required by the 2010 Dodd-Frank Act.  That law also gave
the Federal Deposit Insurance Corp. the power to take over and
dismantle large, failing banks, a job that Vice Chairman Thomas
Hoenig said Wall Street may be making tougher by the overseas
dodge, the report related.


* James Nugent Joins Huron's Business Advisory Practice
-------------------------------------------------------
Huron Consulting Group, a provider of business consulting
services, on June 10 announced the addition of James E. Nugent as
a managing director within its Business Advisory practice to
further strengthen the turnaround and restructuring team.

Mr. Nugent brings the Huron Business Advisory team a depth of
knowledge and vital experience, most notably in the healthcare
industry, accomplishing complex financial and operational
turnarounds in recovery situations.

"Economic uncertainty and marketplace challenges continue to drive
demand for business advisory services in a wide variety of
industries. Healthcare providers, in particular, are facing
business challenges leading them to assess strategic alternatives,
including potential affiliations, mergers and restructuring to
continue to be successful or to survive," said John C. DiDonato,
managing director and Huron Business Advisory leader.  "We are
pleased to welcome Jim to Huron's Business Advisory team and are
confident that he will bring value to our clients across
industries."

Mr. Nugent has nearly 30 years of experience providing business
advisory, corporate recovery and restructuring services, including
extensive healthcare experience having worked with more than 100
healthcare clients during his career.  Prior to joining Huron, he
most recently served as senior managing director at Mesirow
Financial Consulting, and had an accomplished 19-year career at
KPMG LLP.  Mr. Nugent, who is a Certified Insolvency and
Restructuring Advisor, also serves as Vice Chairman of the Board
of Trustees at Thorek Memorial Hospital in Chicago.  At Huron,
Mr. Nugent will help clients address restructuring issues and
turnaround situations in the healthcare industry as well as across
a broad range of industries.

Mr. Nugent specializes in business and restructuring planning,
financial and operational performance improvement, mergers &
acquisitions and turnaround consulting as well as negotiation
assistance in complex restructuring matters.  He has served as
chief restructuring officer and chief financial officer in an
interim management capacity during complex restructuring
situations.

He specializes in the healthcare industry and has assisted
numerous hospitals, health systems, nursing homes, continuing care
retirement communities (CCRCs), pharmaceutical companies, and
manufacturers with complex business and restructuring decisions
and related implementation plans.  Mr. Nugent's broad industry
experience includes airlines, automotive, gaming, healthcare,
manufacturing & distribution, media & newspapers, and
pharmaceutical & medical device.

Contact information: James Nugent
                     550 W. Van Buren Street
                     Chicago, IL 60607
                     Phone: (312) 880-3612

                  About Huron Business Advisory

Huron Business Advisory -- http://www.huronconsultinggroup.com--
resolves complex business issues and enhances value with a full
suite of services for middle-market companies and larger
businesses, including forensic investigations, transaction
advisory, restructuring and turnaround, interim management,
capital raising, operational improvement, and valuation.  Its
senior-level team members have vast experience in a range of
industries, with many serving as C-level executives, who quickly
analyze a business situation and apply its knowledge to finding a
workable solution.

                   About Huron Consulting Group

Huron Consulting Group -- http://www.huronconsultinggroup.com--
helps clients in diverse industries improve performance, transform
the enterprise, reduce costs, leverage technology, process and
review large amounts of complex data, address regulatory changes,
recover from distress and stimulate growth.  The Company's
professionals employ their expertise in finance, operations,
strategy and technology to provide its clients with specialized
analyses and customized advice and solutions that are tailored to
address each client's particular challenges and opportunities to
deliver sustainable and measurable results.  The Company provides
consulting services to a wide variety of both financially sound
and distressed organizations, including healthcare organizations,
leading academic institutions, Fortune 500 companies, governmental
entities and law firms.  Huron has worked with more than 425
health systems, hospitals, and academic medical centers; more than
400 corporate general counsel; and more than 350 universities and
research institutions.


* BOND PRICING -- For Week From June 9 to 13, 2014
--------------------------------------------------

  Company               Ticker  Coupon Bid Price  Maturity Date
  -------               ------  ------ ---------  -------------
Alion Science &
  Technology Corp       ALISCI  10.250    68.550       2/1/2015
Allen Systems
  Group Inc             ALLSYS  10.500    50.500     11/15/2016
Allen Systems
  Group Inc             ALLSYS  10.500    50.500     11/15/2016
Brookstone Co Inc       BKST    13.000    45.000     10/15/2014
Brookstone Co Inc       BKST    13.000    45.000     10/15/2014
Brookstone Co Inc       BKST    13.000    46.000     10/15/2014
Buffalo Thunder
  Development
  Authority             BUFLO    9.375    40.750     12/15/2014
Caesars Entertainment
  Operating Co Inc      CZR     10.000    41.000     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     12.750    45.500      4/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    40.750     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    40.750     12/15/2018
Champion
  Enterprises Inc       CHB      2.750     0.250      11/1/2037
Endeavour
  International Corp    END      5.500    55.000      7/15/2016
Energy Conversion
  Devices Inc           ENER     3.000     0.125      6/15/2013
Energy Future
  Competitive
  Holdings Co LLC       TXU      8.175     1.000      1/30/2037
Energy Future
  Holdings Corp         TXU      5.550    51.000     11/15/2014
FairPoint
  Communications
  Inc/Old               FRP     13.125     1.000       4/2/2018
Global Geophysical
  Services Inc          GGS     10.500    48.250       5/1/2017
Global Geophysical
  Services Inc          GGS     10.500    42.000       5/1/2017
James River Coal Co     JRCC     7.875    11.650       4/1/2019
James River Coal Co     JRCC     4.500     4.900      12/1/2015
James River Coal Co     JRCC    10.000    11.125       6/1/2018
James River Coal Co     JRCC    10.000    11.000       6/1/2018
James River Coal Co     JRCC     3.125    12.749      3/15/2018
LBI Media Inc           LBIMED   8.500    30.000       8/1/2017
MF Global Holdings Ltd  MF       6.250    47.250       8/8/2016
MF Global Holdings Ltd  MF       1.875    43.500       2/1/2016
MModal Inc              MODL    10.750    24.000      8/15/2020
MModal Inc              MODL    10.750    24.000      8/15/2020
Momentive Performance
  Materials Inc         MOMENT  11.500    32.500      12/1/2016
Motors Liquidation Co   MTLQQ    7.200    11.250      1/15/2011
Motors Liquidation Co   MTLQQ    7.375    11.250      5/23/2048
Motors Liquidation Co   MTLQQ    6.750    11.250       5/1/2028
NII Capital Corp        NIHD    10.000    31.375      8/15/2016
Navient Corp            NAVI     3.250    99.500      6/16/2014
OnCure Holdings Inc     RTSX    11.750    48.875      5/15/2017
Platinum Energy
  Solutions Inc         PLATEN  14.250    74.750       3/1/2015
Platinum Energy
  Solutions Inc         PLATEN  14.250    74.750       3/1/2015
Platinum Energy
  Solutions Inc         PLATEN  14.250    74.750       3/1/2015
Platinum Energy
  Solutions Inc         PLATEN  14.250    74.750       3/1/2015
Powerwave
  Technologies Inc      PWAV     1.875     0.125     11/15/2024
Powerwave
  Technologies Inc      PWAV     1.875     0.125     11/15/2024
Pulse Electronics Corp  PULS     7.000    82.697     12/15/2014
River Rock
  Entertainment
  Authority/The         RIVER    9.000    21.064      11/1/2018
THQ Inc                 THQI     5.000    43.500      8/15/2014
TMST Inc                THMR     8.000    16.000      5/15/2013
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250    12.125      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    41.500       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250    12.000      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500    12.125      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     15.000    39.900       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250    12.000      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500    11.625      11/1/2016
Thunderbird Resources
  Equity Inc            GMXR     9.000     0.375       3/2/2018
Verso Paper Holdings
  LLC / Verso
  Paper Inc             VRS     11.375    56.755       8/1/2016
Western Express Inc     WSTEXP  12.500    79.125      4/15/2015
Western Express Inc     WSTEXP  12.500    79.125      4/15/2015




                             *********

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 ***