TCR_Public/140707.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, July 7, 2014, Vol. 18, No. 187

                            Headlines

1002 STUDENT HOUSING: Involuntary Chapter 11 Case Summary
22ND CENTURY: Files Amendment No.2 to $45 Million Prospectus
ADVANTAGE SALES: S&P Cuts CCR to 'B' Over Pending LBO, Off Watch
AEMETIS INC: To Sell $100 Million Worth of Securities
AFFINITY GAMING: Moody's Downgrades Corporate Family Rating to B2

ALABAMA STATE UNIVERSITY: Moody's Lowers Gen. Rev. Bonds to Ba1
ALPHA NATURAL: Bank Debt Trades at 4% Off
ALTEGRITY INC: S&P Lowers CCR to 'CCC+', Outlook Negative
AMERICAN APPAREL: In Talks to Raise New Financing
AMERICAN APPAREL: FiveT Capital Lowers Equity Stake to 3.2%

AMERICAN PATRIOT: CFSI to Acquire 100% of Bank's Common Stock
ANPATH GROUP: Issues Convertible Debentures and Warrant
APPLIED ENERGETICS: Reports $206K Net Loss for Q1 Ended March 31
APOLLO MEDICAL: Signs Consulting Agreement with Bridgewater
ATLS ACQUISITION: Seeks Sept. 30 Extension to Deal with Leases

AMINCOR INC: Amends 2013 Form 10-K Report
BANNING COMMUNITY: Fitch Affirms 'BB+' Tax Allocation Bonds Rating
BAY INDUSTRIAL: Case Summary & 20 Largest Unsecured Creditors
BIOFUEL ENERGY: Gets NASDAQ Listing OK Pending JBGL Acquisition
CAESARS ENTERTAINMENT: Bank Debt Trades at 6% Off

CALIFORNIA COMMUNITY: Wants to Hire Meegan Hanschu as Attorney
CALIFORNIA COMMUNITY: Seeks to Use Cash Collateral Until Sept. 30
CALIFORNIA COMMUNITY: Files Amended List of Top Unsec. Creditors
CALIFORNIA COMMUNITY: Files Schedules of Assets and Liabilities
CARAUSTAR INDUSTRIES: Moody's Ratings on Review for Downgrade

CASH STORE: Issues Default Status Report
CATALYST GROUP: Case Summary & 20 Largest Unsecured Creditors
CENTRAL AMERICAN RELIEF: Case Summary & 3 Top Unsecured Creditors
CHOCTAW RESORT: S&P Lowers Rating on $150MM Sr. Notes to 'B-'
COATES INTERNATIONAL: Southridge Intends to Buy $10-Mil. Shares

COMMONWEALTH RENEWABLE: Case Summary & 20 Top Unsecured Creditors
COMSTOCK MINING: Restricted Stock Granted to CEO 60% Vested
CONTOURGLOBAL POWER: Moody's Changes B3 CFR Outlook to Negative
COYOTE MOON: U.S. Trustee Seeks to Dismiss Case
COYOTE MOON: Court Dismisses Chapter 11 Bankruptcy Case

CVS TRANSPORT: Case Summary & 13 Largest Unsecured Creditors
DIALOGIC INC: Two Directors Elected at Annual Meeting
E H MITCHELL: Parties Continue SARE Dispute
EASYCARE INC: Case Summary & 20 Largest Unsecured Creditors
ELEPHANT TALK: Annual Stockholders' Meeting Set on Sept. 12

ENERGY FOCUS: Has $4.07-Mil. Net Loss in Q1 Ended March 31
EVANS & SUTHERLAND: Peter Kellogg Holds 26.3% Equity Stake
FALCON STEEL: Section 341(a) Meeting Set on August 8
FOX TROT: Fighting to Keep Control; Forcht Seeks Stay Relief
FOUNDATION HEALTHCARE: To Sell Shares of Common Stock

FOUNTAIN VIEW: Case Summary & 19 Largest Unsecured Creditors
FREESEAS INC: Incurs $10.5 Million Net Loss in First Quarter
GENCO SHIPPING: Court Confirms Prepackaged Plan of Reorganization
GENCO SHIPPING: Expects to End 2014 with $138 Million in Cash
GOWEX SA: Files for Bankruptcy Protection After Chairman Quits

INTERNATIONAL TEXTILE: Tranche B Note Maturity Extended to 2019
INVENT VENTURES: Posts $120K Net Loss in First Quarter
JACKSON MANOR: Case Summary & 12 Largest Unsecured Creditors
JARDEN CORP: EUR30MM Notes Offering No Impact on Moody's Ba3 CFR
KARMAN BUYER: Moody's Assigns 'B2' Corporate Family Rating

KASPER LAND: Secured Creditors Balk at Chapter 11 Plan
LAKELAND INDUSTRIES: Unit Obtains RMB 8 Million in Financing
LAKELAND INDUSTRIES: Unit Ordered to Pay $1.1MM in Labor Case
LEO MOTORS: Chief Financial Officer Quits
LIME ENERGY: Offering 314,285 Shares Under Stock Plans

MEDICURE INC: Acquires Minority Stake in Apicore
MISSION NEW ENERGY: Files Material Counterclaim Against KNM
MNC INC: Voluntary Chapter 11 Case Summary
MONTANA ELECTRIC: Alvarez's Swick to Act as HGS Holding Trustee
MONTREAL MAINE: Lac-Megantic Fears Return of Oil Trains

MOUNTAINEER GAS: Fitch Affirms 'BB+' LT Issuer Default Rating
NATROL INC: Cerberus Seeks Appointment of Chapter 11 Trustee
NATROL INC: Seeks Aug. 11 Extension to File Schedules, Statements
NET ELEMENT: Obtains $10 Million in Financing From RBL Capital
NEW CENTAUR: S&P Assigns 'BB-' Rating on $425MM Credit Agreement

NEWLEAD HOLDINGS: To Issue 4.6 Million Shares to Consultants
NG2M INC: Case Summary & 7 Unsecured Creditors
PALM DRIVE: S&P Affirms 'BB' Rating on 2005 Parcel Tax Revenue
PANACHE BEVERAGE: Missed $62,500 Interest Payment to Consilium
PETRON ENERGY: Judson Hoover Quits From Board of Directors

PHILLIPS INVESTMENTS: Has Until July 8 to File Schedules
PINNACLE FOODS: Moody's Confirms 'B1' CFR After Failed Merger
POSITIVEID CORP: Salberg Replaces EisnerAmper as Accountants
REEDER REALTY: Case Summary & 3 Largest Unsecured Creditors
REFCO PUBLIC: Court Sets Sept. 2 as General Claims Bar Date

RITE AID: Files Form 10-Q, Reports $41.4-Mil. Net Income in Q1
RUE21 INC: Bank Debt Trades at 13.5% Off
SEANERGY MARITIME: Posts $83.5 Million Net Income in 1st Quarter
SEARS METHODIST: Bankruptcy Won't Affect El Paso Veterans Home
SOURCE HOME: Meeting to Form Creditors Panel Set for July 10

SUN BANCORP: Names New President, Adopts Restructuring Plan
SUPER BUY FURNITURE: Case Summary & 20 Largest Unsecured Creditors
SWIFT ENERGY: Moody's Raises Corporate Family Rating to 'B1'
TOLEDO-LUCAS COUNTY: Fitch Affirms 'BB' Rating on 2003 Rev. Bonds
TMT GENERAL: Queens Lot to Be Sold at Aug. 1 Auction

TRANS ENERGY: Expects to Obtain Title to Robinson Lease
TRANSGENOMIC INC: Sells Rights to Surveyor Detection Technology
TRAVELPORT HOLDINGS: Unit Has Tender Offer for Debt Securities
UNIVERSITY GENERAL: Widens Net Loss to $35.7 Million in 2013
URIGEN PHARMACEUTICALS: Completes Debt Restructuring

VAIL LAKE: Case Dismissal Hearing Moved to Sept. 25
VUZIX CORP: Stockholders to Resell 1.5 Million Common Shares
VYCOR MEDICAL: Fountainhead Capital Holds 47.7% Equity Stake
WALTER ENERGY: Bank Debt Trades at 4% Off
WEST CORP: Tender Offers to Expire on July 15

ZYNEX INC: Incurs $1.44-Mil. Net Loss in March 31 Quarter

* BOND PRICING: For Week From June 30 to July 4, 2014


                             *********


1002 STUDENT HOUSING: Involuntary Chapter 11 Case Summary
---------------------------------------------------------
Alleged Debtor: 1002 Student Housing Everett LLC
                1931 Rainier Ave
                Everett, WA 98201

Case Number: 14-15125

Nature of Business: Single Asset Real Estate

Involuntary Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       Western District of Washington (Seattle)

Judge: Hon. Karen A. Overstreet

Petitioner's Counsel: none

Alleged Debtor's petitioner:

   Petitioner                  Nature of Claim  Claim Amount
   ----------                  ---------------  ------------
Richard Sullivan               Unsecured claim    $36,502
2418 California #C
Everett, WA 98201


22ND CENTURY: Files Amendment No.2 to $45 Million Prospectus
------------------------------------------------------------
22nd Century Group, Inc., filed with the U.S. Securities and
Exchange Commission an amended prospectus relating to the proposed
sale of up to $45 million of any combination of debt securities,
common stock, preferred stock, warrants, stock purchase contracts,
and stock purchase units.

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

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

A full-text copy of the second amendment to Form S-3 registration
statement is available for free at http://is.gd/nTDWFC

                         About 22nd Century

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

22nd Century reported a net loss of $26.15 million in 2013, a net
loss of $6.73 million in 2012 and a net loss of $1.34 million in
2011.  As of March 31, 2014, the Company had $11.93 million in
total assets, $1.77 million in total liabilities and $10.15 milion
in total shareholders' equity.


ADVANTAGE SALES: S&P Cuts CCR to 'B' Over Pending LBO, Off Watch
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Irvine, Calif.-based Advantage Sales & Marketing Inc. by
one notch to 'B' from 'B+'.  At the same time, S&P removed this
rating from CreditWatch, where it had placed it with negative
implications on June 19, 2014, following the company's
announcement that it was being acquired by affiliates of LGP and
CVC.  The outlook is stable.

At the same time, S&P assigned ASM's proposed $200 million
revolving credit facility and $1.8 billion first-lien term loan
'B' issue-level ratings with a recovery rating of '3', indicating
its expectation for meaningful (50% to 70%) recovery for lenders
in the event of a payment default.  S&P also assigned the
company's proposed $760 million second-lien term loan a 'CCC+'
issue-level rating with a recovery rating of '6', indicating S&P's
expectation for negligible (0% to 10%) recovery for lenders in the
event of a payment default.

Upon completion of the proposed transaction on the terms currently
proposed, S&P will withdraw all of its existing issue-level
ratings on the company's currently outstanding credit facilities,
which S&P expects to be repaid.

"The downgrade reflects ASM's increased debt levels and more
aggressive financial policy following the acquisition
transaction," said Standard & Poor's credit analyst Jeff Burian.
"We expect pro forma leverage under the new capital structure to
increase to above 8x at close of the transaction from 5.6x at
March 31, 2014.  We believe the company is more likely to use
future cash flows for acquisitions than debt repayment."

Standard & Poor's continues to assess ASM's financial risk profile
as "highly leveraged," reflecting our expectation that credit
metrics will remain very weak and the company's financial policy
will remain aggressive.  Because ASM is owned by a sponsor and has
operated with a significant debt burden for several years, S&P
believes it is probable that additional debt issuance for
acquisitions or dividends will offset any significant credit
metric improvement from sales and profit growth.

S&P assess ASM's business risk profile as "satisfactory"
reflecting favorable industry dynamics and good market position.
We expect ASM to continue to benefit from consumer products
companies outsourcing sales and marketing functions.


AEMETIS INC: To Sell $100 Million Worth of Securities
-----------------------------------------------------
Aemetis, Inc., disclosed that it may sell common stock, preferred
stock, debt securities, warrants, rights and units for an
aggregate offering price of $100 million.

The preferred stock or warrants may be convertible into or
exercisable or exchangeable for common or preferred stock or other
of the Company's securities.  The debt securities may be
convertible into, or exercisable or exchangeable for, common
stock.  The Company's common stock is listed on the NASDAQ Global
Market and trades under the symbol "AMTX."

A full-text copy of the preliminary Form S-3 prospectus is
available at http://is.gd/vQi3aD

                            About Aemetis

Cupertino, Calif.-based Aemetis, Inc., is an international
renewable fuels and specialty chemical company focused on the
production of advanced fuels and chemicals and the acquisition,
development and commercialization of innovative technologies that
replace traditional petroleum-based products and convert first-
generation ethanol and biodiesel plants into advanced
biorefineries.

Aemetis reported a net loss of $24.43 million on $177.51 million
of revenues for the year ended Dec. 31, 2013, as compared with a
net loss of $4.28 million on $189.04 million of revenues in 2012.
As of March 31, 2014, the Company had $99.37 million in total
assets, $103.60 million in total liabilities and a $4.22 million
total stockholders' deficit.

                         Bankruptcy Warning

"The adoptions of new technologies at our ethanol and biodiesel
plants, along with working capital, are financed in part through
debt facilities.  We may need to seek additional financing to
continue or grow our operations.  However, generally unfavorable
credit market conditions may make it difficult to obtain necessary
capital or additional debt financing on commercially viable terms
or at all.  If we are unable to pay our debt we may be forced to
delay or cancel capital expenditures, sell assets, restructure our
indebtedness, seek additional financing, or file for bankruptcy
protection," the Company said in the Annual Report for the year
ended Dec. 31, 2013.


AFFINITY GAMING: Moody's Downgrades Corporate Family Rating to B2
-----------------------------------------------------------------
Moody's Investors Service lowered Affinity Gaming's ratings and
assigned a negative rating outlook in response to the company's
July 1, 2014 8-K filing with the US Securities and Exchange
Commission disclosing that it will not be in compliance with
certain financial covenants contained in its senior secured credit
facility. The bank agreement includes leverage and coverage
financial maintenance covenants.

Affinity's Corporate Family and Probability of Default ratings
were lowered one-notch to B2 and B2-PD, respectively. The
company's $35 million senior secured revolver, $200 million term
loan, and $200 million 9% senior notes were also lowered one-
notch. The revolver is now rated Ba2, the term loan Ba3, and the
senior notes Caa1. The Ba2 rating on the revolver reflects its
super-priority status relative to the Ba3 term loan.

Ratings lowered:

Corporate Family Rating, to B2 from B1

Probability of Default Rating, to B2-PD from B1-PD

$35 million secured revolving credit facility expiring 2017, to
Ba2 (LGD 1) from Ba1 (LGD 1)

$200 million secured term loan due 2017, to Ba3 (LGD 2) from Ba2
(LGD 2)

$200 million 9% senior notes due 2018, to Caa1 (LGD 5) from B3
(LGD 5)

Rating Rationale:

The downgrade of Affinity's Corporate Family Rating to B2 from B1
reflects the company's covenant breach announcement along with a
steady decline in earnings and corresponding rise in leverage.
Affinity has experienced property-level earnings declines in all
three of its operating segments. Based on the company's warning of
non-compliance with financial covenants and updated earnings
guidance provided in the 8-K filing, Moody's expects that
Affinity's debt/EBITDA for the 12-month period ended June 30, 2014
will be above the 6.5 times covenant test for that same period and
lower than the 2.0 times interest coverage requirement.

The downgrade also considers Moody's view that consumer demand for
gaming activities is weakening throughout the US regional markets,
including the markets that Affinity operates in. Although gaming
revenue had largely stabilized since the recession, recent
negative year-over-year monthly gaming revenue results released by
state gaming authorities suggest a downward shift in US regional
gaming demand has occurred.

The negative rating outlook considers that while Moody's believes
Affinity will ultimately succeed in obtaining a waiver or
amendment -- the company does have a substantial amount of
unrestricted excess cash on its balance sheet, at almost $100
million -- some uncertainty exists with Affinity's ability to
avoid more restrictive and expensive terms, conditions and pricing
in its bank credit facility going forward. The negative rating
outlook also considers the challenge associated with Affinity's
ability to stabilize its earnings decline in light of Moody's
expectation of a general weakening in gaming demand.

Ratings could be lowered if Affinity is unable to obtain the
waiver or amendments needed to maintain compliance over the
longer-term or if it appears the company will not be able to
stabilize its earnings decline by the end of this year. Obtaining
suitable waivers or amendments, in and of itself, would not
necessarily result in an outlook revision back to stable or
prevent a downgrade. A stable rating outlook would require a high
level of comfort on Moody's part that Affinity can reverse its
declining earnings trend. A higher rating would require a
significant and sustainable improvement in debt/EBITDA, at or
below 5.0 times.

Affinity Gaming owns and operates casinos in Nevada, Missouri,
Iowa and Colorado. Net revenue for the latest 12-month period
ended Mar. 31, 2014 was $386 million.

The principal methodology used in this rating was the Global
Gaming Industry published in June 2014. Other methodologies used
include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.


ALABAMA STATE UNIVERSITY: Moody's Lowers Gen. Rev. Bonds to Ba1
---------------------------------------------------------------
Moody's Investors Service has downgraded Alabama State
University's (ASU) general tuition and fee revenue bond rating to
Ba1 from Baa1, and downgraded the Series 2005 lease revenue bonds
to Ba2 from Baa2. The outlook is negative.

Summary Rating Rationale

The downgrade to Ba1 reflects the continued weakening financial
condition of the university evidenced by declining liquidity,
extremely high operating leverage and inability to cover debt
service for a multi-year period. Ongoing weak operating
performance required a draw on reserves to cover debt service in
2014 and this is expected to continue through at least 2015, if
not longer, resulting in weakening liquidity. A history of weak
governance and expense control reduces the prospects that the
university will be able to rapidly and strategically restore
operating equilibrium.

This downgrade also incorporates the Southern Association of
Colleges and Schools Commission on Colleges (SACSCOC) June 19,
2014 placement of ASU's accreditation status on Warning. SACSCOC
determined significant non-compliance in six areas: governing
board, board conflict of interest, financial stability, control of
finances, control of sponsored research/external funds, and Title
IV program responsibilities.

The Ba1 rating is supported by Alabama State University's market
niche as a medium-sized public historically black university
(HBCU) in Montgomery, with diverse program offerings and recent
enrollment growth. The Ba2 rating on the Series 2005 lease revenue
bonds, rated one level below the university's highest rating,
incorporates the essentiality of the project (power plant) and the
risk associated with the lease-backed security for the bonds
issued by the Public Educational Building Authority of Montgomery
on behalf of Alabama State University.

The negative outlook reflects the possibility of additional credit
deterioration should liquidity erode further, the university prove
unable to improve operating performance, or by failure to address
the SACSCOC Warnings in a timely manner. Reliance on an operating
line of credit to manage through delayed state funding and a swap
liability could create additional demands on liquidity.

Challenges

-- ASU has had significant governance and management challenges,
which have led to and been exacerbated by extraordinary events,
such as a forensic audit, presidential turnover, and accreditation
challenges that limit ability to focus on core operational
improvement.

-- Management's inability or unwillingness to significantly
address a growing structural deficit are symptoms of weak controls
that will lead to continued financial deterioration absent
material and timely corrective action.

-- Operating performance has markedly deteriorated as expense
growth dramatically outpaced revenue growth over the last three
fiscal years (FY 2011-13). Expenses grew a combined 9.4% over this
time frame compared to just 0.5% growth in revenue.

-- Weak cash flow has required the university to draw on reserves
to pay debt service costs and contributed to declining liquidity.
The FY 2013 operating margin was -9.1%, with the operating cash
flow margin of 7.1% providing 0.55 times debt service coverage and
FY 2014 is expected to be similarly weak based on year-to-date
projections.

-- ASU remains extremely leveraged, with the $235 million of
direct debt for FY 2013 to operating revenues of 1.9 times and
expendable financial resources covering debt a narrow 0.17 times.
This limits flexibility to respond to current challenges.

-- Cash and investments have declined substantially due to
operating deficits. Monthly days cash on hand was a very weak 64
days at September 30, 2013 and is expected to deteriorate further
in FY 2014. The university is highly reliant on a $7 million
operating line throughout the year.

Strengths

-- The executive branch of the state has become more involved
with the governance of the university in the last year, and the
governor has begun to regularly attend university board meetings.
This has strengthened the university's relationship with the
state. Appropriations provided 35% of operating revenue in fiscal
2013.

-- ASU serves an established and recognized role in Alabama's
higher education framework as the largest historically black
higher education institution in the state.

-- Total enrollment grew to an all time high of 5,726 full-time
equivalent students in fall 2013. The university was able to able
to achieve 9.1% growth in student charges in fiscal 2013.

Outlook

The negative outlook reflects expectations for further erosion of
flexible reserves and inability to cover debt service from
operations. The negative outlook also incorporates the uncertain
outcome of the SACSCOC Warning.

What Could Change The Rating UP

An upgrade or move to stable outlook could be considered if
Alabama State University is able to sustainably improve operating
performance and debt service coverage while increasing liquidity.
Upward movement could also be aided by a meaningful reduction in
financial leverage either through a material reduction in debt or
substantial increase in operating revenue and flexible reserves.
Positive resolution of accreditation review is also critical to
credit improvement. Demonstrated management stability and improved
governance and management best practices are essential for credit
improvement.

What Could Make The Rating Go DOWN

A rating downgrade remains likely if the university not be able to
generate operating cash flow sufficient to cover debt service
commitments. A further erosion of liquidity or increased reliance
on operating lines could also trigger a downgrade. More rapid
credit deterioration could occur should the university be unable
to resolve the accreditation Warning.

Methodology

The principal methodology used in this rating was U.S. Not-for-
Profit Private and Public Higher Education published in August
2011. The additional methodology used in this rating was The
Fundamentals of Credit Analysis for Lease-Backed Municipal
Obligations published in December 2011.


ALPHA NATURAL: Bank Debt Trades at 4% Off
-----------------------------------------
Participations in a syndicated loan under which Alpha Natural
Resources is a borrower traded in the secondary market at 96.46
cents-on-the-dollar during the week ended Friday, July 4, 2014,
according to data compiled by LSTA/Thomson Reuters MTM Pricing and
reported in The Wall Street Journal.  This represents a decrease
of 0.13 percentage points from the previous week, The Journal
relates.  Alpha Natural Resources pays 275 basis points above
LIBOR to borrow under the facility.  The bank loan matures on May
31, 2020, and carries Moody's Ba2 rating and Standard & Poor's BB-
rating.  The loan is one of the biggest gainers and losers among
205 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.


ALTEGRITY INC: S&P Lowers CCR to 'CCC+', Outlook Negative
---------------------------------------------------------
Standard & Poor's Ratings Services released two ratings actions on
Falls Church, Va.-based Altegrity Inc. on July 3, 2014.

Under the first ratings release, S&P lowered its corporate credit
rating on Altegrity to 'SD' from 'CC'.  Concurrently, S&P lowered
its issue-level ratings on both the $500 million senior unsecured
notes and $150 million senior subordinated notes to 'D' from 'C'.

S&P's first rating action followed the completion of a distressed
exchange transaction.  The company prepaid $57 million of its $500
million of senior unsecured notes due November 2015 and exchanged
$421 million into new second-lien notes due July 2020.  Also as
part of the exchange, $60 million of the previous $150 million
senior subordinated notes will be added to the new second-lien
notes balance.  The remaining $22 million of current senior
unsecured notes will be paid in accordance with current terms.
The cash interest rate remains the same on the new second-lien
notes, but includes paid-in-kind (PIK) interest (no cash interest)
between 2.0% and 2.5%.

The company also exchanged $150 senior subordinated notes for $61
million of new third-lien notes with a 15% PIK and $60 million of
the new second-lien notes.  The remaining $29 million of current
senior subordinated notes will be paid in accordance with current
terms.

"We treat these transactions as tantamount to a default, given the
current distressed financial condition of the company and since we
believe the investors are receiving less than the original promise
of the original security," said Standard & Poor's credit analyst
Rodney Olivero.  "We plan on raising the corporate credit rating
to 'CCC+' and assigning a negative outlook over the next couple of
days to reflect the company's new capital structure and extended
maturity schedule."

Under the second ratings release, S&P said it raised its corporate
credit rating on Altegrity Inc. to 'CCC+' from 'SD'.  The outlook
is negative.  At the same time, S&P raised its senior secured debt
rating to 'B-' from 'CCC-'.  The recovery rating on the senior
secured debt is '2', indicating that lenders could expect
substantial (70% to 90%) recovery in the event of a payment
default.

Also under the second ratings release, S&P raised its senior
unsecured and subordinated debt ratings to 'C' (the lowest
possible issue rating for an instrument that is not in default)
from 'D'.  The recovery rating on this debt is '6', indicating
that lenders could expect negligible (0% to 10%) recovery in the
event of a payment default.

The rating action follows Altegrity's completed comprehensive
recapitalization in advance of large debt maturities that totaled
approximately $1 billion through February 2015 and $1.8 billion
through August 2016.  The completed transaction, among other
things, extended the debt maturity schedules, exchanged existing
unsecured and senior subordinated debt into second- and third-lien
notes, and provided modest cash paydowns of debt.  It also
increased paid-in-kind (PIK) interest to existing senior unsecured
debt.

"We believe the company's credit metrics will remain very weak,
given its significant debt burden and our expectation that its
operating performance will continue to be under pressure for at
least the next two years," said Standard & Poor's credit analyst
Rodney Olivero under the second ratings release.  "We believe
leverage will remain at an unsustainable level, with debt to
EBITDA above 10x, and cash flow protection measures will remain
very weak, with EBITDA coverage of interest about 1.0x, for at
least the next two years."


AMERICAN APPAREL: In Talks to Raise New Financing
-------------------------------------------------
Suzanne Kapner, writing for The Wall Street Journal, reported that
American Apparel Inc. is in talks to raise new financing from
hedge fund Standard General that would allow the company to pay
off a loan that came due after it ousted founder Dov Charney,
people familiar with the matter said.

According to the report, bankers are still working out the terms
of the financing from Standard General, which effectively controls
43% of the company's stock, and it is unclear what form it will
take, a person familiar with the situation said.  As part of the
talks, the two sides also have reached an agreement in principle
to replace all of the company's board -- except for its two co-
chairmen -- with directors who have more industry experience,
though no formal agreement has been signed, the Journal related,
citing the people familiar with the situation.

                       About American Apparel

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

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

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

American Apparel reported a net loss of $106.29 million on $633.94
million of net sales for the year ended Dec. 31, 2013, as compared
with a net loss of $37.27 million on $617.31 million of net sales
for the year ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $333.75 million in total
assets, $411.15 million in total liabilities and a $77.40 million
total stockholders' deficit.

                           *     *     *

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

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


AMERICAN APPAREL: FiveT Capital Lowers Equity Stake to 3.2%
-----------------------------------------------------------
FiveT Capital Holding AG, FiveMore Special Situations Fund Ltd and
FiveT Capital AG disclosed in an amended Schedule 13D filed with
the U.S. Securities and Exchange Commission that as of July 3,
2014, they beneficially owned 5,540,000 shares of common stock of
American Apparel, Inc., representing 3.19 percent based upon the
173,497,302 shares of Common Stock outstanding as of April 28,
2014, as reported in the proxy statement filed by the Company.
For the period from June 11 - June 23, 2014, the reporting persons
sold an aggregate of 14,910,000 common shares.  A full-text copy
of the regulatory filing is available at:

                         http://is.gd/1ubRkL

                        About American Apparel

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

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

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

American Apparel reported a net loss of $106.29 million on $633.94
million of net sales for the year ended Dec. 31, 2013, as compared
with a net loss of $37.27 million on $617.31 million of net sales
for the year ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $333.75 million in total
assets, $411.15 million in total liabilities and a $77.40 million
total stockholders' deficit.

                           *     *     *

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

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


AMERICAN PATRIOT: CFSI to Acquire 100% of Bank's Common Stock
-------------------------------------------------------------
American Patriot Financial Group, Inc., and its wholly owned bank
subsidiary American Patriot Bank, on June 27, 2014, entered into a
Common Stock Purchase Agreement with Complete Financial Solutions,
Inc., pursuant to which the Bank sold to CFSI 700,000 shares of
the Bank's common stock, par value $0.333 per share for a purchase
price of $245,000.  Pursuant to the terms of the Stock Purchase
Agreement, CFSI has agreed to purchase an additional 1,600,000
shares of Bank Common Stock for $560,000 within 30 days of
approval by the applicable federal banking regulators of CFSI's
application to acquire those shares and an additional 1,400,000
shares of Bank Common Stock for $490,000 within nine months of
receipt of that approval.

In connection with the transaction contemplated by the Stock
Purchase Agreement, CFSI has reached an agreement with HomeTrust
Bank, successor in interest to Jefferson Federal Bank, subject
receipt of any requirement regulatory approvals, to acquire the
promissory note held by HomeTrust that evidences the Company's
borrowings under that certain Promissory Note and Commercial Loan
Agreement dated as of Dec. 30, 2008, by and among Jefferson
Federal Bank and the Company.  Pursuant to the terms of the Loan
Agreement, which matured on Feb. 28, 2011, and which remains
unpaid, the Company's obligation to HomeTrust is secured by all of
the shares of common stock of the Bank outstanding prior to the
issuance of shares of the Bank Common Stock to CFSI.

Pursuant to the terms of the Stock Purchase Agreement, the
Company, the Bank and CFSI have agreed that within 18 months
following CFSI's acquisition of control of the Bank, and subject
to compliance with applicable legal requirements, CFSI and the
Company will effectuate an exchange offer of CFSI's common stock
for all of the outstanding shares of Bank Common Stock then owned
by the Company such that CFSI will acquire 100% of the common
stock of the Bank.  It is expected that in connection with such
transaction, the shareholders of the Company will be entitled to
exchange their shares of common stock in the Company for shares of
common stock in CFSI, with the amount of those shares to be
determined in the future.  Moreover, the Stock Purchase Agreement
provides that within eighteen months following CFSI's acquisition
of control of the Bank, CFSI will, subject to compliance with
applicable legal requirements, purchase the outstanding shares of
preferred stock of the Company for either cash or shares of CFSI's
common stock.

Pursuant to the Stock Purchase Agreement, the Company and the
Bank, on the one hand, and CFSI, on the other hand, have each made
customary representations and warranties to one another and
agreements with one another for transactions of the type
contemplated by the Stock Purchase Agreement.  The terms of the
Stock Purchase Agreement also require that, subject to receipt of
all required regulatory approvals, the board of directors of the
Bank will be expanded by two members from four to six and nominees
proposed by CFSI will fill the vacancies created by that increase.
CFSI's obligation to make the Second Investment and Third
Investment is subject to receipt of all required regulatory
approvals and the satisfaction of other customary closing
conditions, including that there not have been a material adverse
change in the Bank's operations since June 27, 2014.

                       About American Patriot

Based in Greenville, Tenn., American Patriot Financial Group, Inc.
is a one-bank holding company formed as a Tennessee corporation to
own the shares of American Patriot Bank.  The Bank is the only
subsidiary of the Corporation.

American Patriot Bank commenced operations as a state chartered
bank on July 9, 2001.  The Bank had total assets of roughly
$118 million at Dec. 31, 2009.  The Bank is not a member of
the Federal Reserve System.

The Bank's customer base consists primarily of small to medium-
sized business retailers, manufacturers, distributors, land
developers, contractors, professionals, service businesses and
local residents.

On Aug. 18, 2010, the Company received from the Federal Deposit
Insurance Corporation, a Supervisory Prompt Corrective Action
Directive, dated August 17, 2010, due to American Patriot Bank's
"significantly undercapitalized" status.  The Directive requires
that the Bank submit an acceptable capital restoration plan on or
before August 31, 2010, providing that, among other things, at a
minimum, the Bank will  restore and maintain its capital to the
level of "adequately capitalized."

In its audit report for the 2011 results, Hazlett, Lewis & Bieter,
PLLC, in Chattanooga, Tennessee, expressed substantial doubt about
the Company's ability to continue as a going concern.  The
independent auditors noted that the Company has incurred
significant losses for the past five years resulting in a retained
deficit of $7.15 million at Dec. 31, 2011.  At Dec. 31, 2011 and
2010, the Company and its subsidiary were significantly
undercapitalized based on regulatory standards and has consented
to an Order to Cease and Desist with its primary federal regulator
that requires, among other provisions, that it achieve regulatory
capital thresholds that are significantly in excess of its current
actual capital levels.  The Company's nonperforming assets have
increased significantly during 2011 and 2010 related primarily to
deterioration in the credit quality of its loans collateralized by
real estate.  The Company, at the holding company level, has a
note payable that was due Feb. 28, 2011, which is now in default.
This note is securitized by 100 percent of the stock of the
subsidiary.

The Company reported a net loss of $1.18 million in 2011, compared
with a net loss of $2.29 million in 2010.

The Company's balance sheet at Sept. 30, 2012, showed $86.30
million in total assets, $85.51 million in total liabilities and
$793,666 in total stockholders' equity.


ANPATH GROUP: Issues Convertible Debentures and Warrant
-------------------------------------------------------
Anpath Group, Inc., on June 27, 2014, entered into a securities
purchase agreement whereby the Company agreed to privately issue
and sell two Original Issue Discount Senior Secured Convertible
Debentures due March 31, 2015, and a Common Stock Purchase Warrant
to purchase a total of 2,905,000 shares of the Company's common
stock at a price of $0.35 per share.  The closing of the purchase
and sale of the Debentures and the Warrant took place on July 2,
2014.

The first Debenture, in the principal amount of $215,250 was
issued in exchange for the Company's Original Issue Discount
Senior Secured Promissory Note in the principal amount of $205,000
held by the Purchaser and issued on May 14, 2013, in reliance on
Sections 3(a)(9) and 4(a)(2) of the Securities Act of 1933, as
amended, and Rule 506 of Regulation D promulgated under Section
4(a)(2).  The second Debenture, in the principal amount of
$220,500, was issued in consideration of the sum of $210,000 in
reliance on Section 4(a)(2) of the Securities Act and Rule 506 of
Regulation D.  As original issue discount obligations, neither
Debenture carries any scheduled interest payments (other than late
fees, as applicable).  At any time after the original issue date
until it is no longer outstanding, each Debenture is convertible,
in whole or in part, into shares of the Company's common stock at
the Holder's election at a price of $0.15 per share, subject to
adjustment as a result of stock dividends, stock splits and the
like.

The Warrant will be exercisable until the five year anniversary of
the issuance date.

A full-text copy of the Securities Purchase Agreement is available
for free at http://is.gd/2F6Hrg

                        About Anpath Group

Based in Mooresville, N.C., Anpath Group, Inc. (OTC BB: ANPG)
-- http://www.anpathgroup.com/-- through its wholly-owned
subsidiary EnviroSystems, Inc., produces disinfecting, sanitizing
and cleaning products designed to help prevent the spread of
infectious microorganisms, while minimizing the harmful effects to
people, application surfaces and the environment.

The Company filed for Chapter 11 bankruptcy protection on May 20,
2010 (Bankr. D. Del. Case No. 10-11652), pursuant to which it
proposed a plan of reorganization.  Mark E. Felger, Esq., at
Cozen O'Connor, assists the Company in its restructuring effort.
The Company disclosed $1,548,646 in assets and $3,536,825 in
Liabilities in its schedules.

The Plan proposed a restructuring of the debt and other claims
against the Company vis-a-vis the interests of its current
shareholders.  Before it was filed, the Company sought the support
of its principal creditors for the Plan that was being proposed.
In connection with this initiative, a super-majority of the Senior
Secured Class of creditors, including Anpath Lending, and a super-
majority of the investors holding more than 50% of the Convertible
Notes all signed the Plan Support Agreement.

Anpath Group emerged from its Chapter 11 restructuring on
Dec. 23, 2010.

On Dec. 28, 2010, Anpath Group suspended its duty to file reports
with the SEC.  The Company, on Feb. 19, 2014, filed with the SEC a
Form 10 to register its securities.  As a result of the filing,
the Company is now obligated to file reports under Section 13 of
the Exchange Act.


APPLIED ENERGETICS: Reports $206K Net Loss for Q1 Ended March 31
----------------------------------------------------------------
Applied Energetics, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $206,813 on $26,875 of revenue for the
three months ended March 31, 2014, compared with a net loss of
$573,215 on $34,457 of revenue for the same period in 2013.

The Company's balance sheet at March 31, 2014, showed $1.02
million in total assets, $340,765 in total liabilities, and
stockholders' equity of $678,282.

For the three months ended March 31, 2014, the company had
negative cash flows from operations of $174,000 and may incur
additional future losses due to the reduction in Government
contract activity.  These matters raise substantial doubt as to
the company's ability to continue as a going concern, according to
the regulatory filing.

A copy of the Form 10-Q is available:

                       http://is.gd/rFHEPB

Tucson, Arizona-based Applied Energetics, Inc., designs, develops
and manufactures solid state Ultra Short Pulse ("USP") lasers for
commercial applications and applied energy systems for military
applications.


APOLLO MEDICAL: Signs Consulting Agreement with Bridgewater
-----------------------------------------------------------
Apollo Medical Holdings, Inc., and Bridgewater Healthcare Group,
LLC, entered into a consulting agreement, effective as of May 20,
2014, pursuant to which Bridgewater agreed to make available the
services of Mitchell R. Creem as chief financial officer and
principal financial and accounting officer of the Company.  Mr.
Creem is the sole member and manager of Bridgewater.

The Company will pay Bridgewater $10,000 per month and the Company
will grant to Bridgewater, during each month in which the
Consulting Agreement is effective, a fully vested option to
purchase 5,000 shares of the Company's Common Stock, at an
exercise price equal to $1.00 per share, except as otherwise
agreed.  The Company also agreed to reimburse Bridgewater for
reasonable travel and other expenses actually and properly
incurred by Mr. Creem in carrying out his obligations under the
Consulting Agreement.

A full-text copy of the Consulting Agreement, between Apollo
Medical Holdings, Inc. and Bridgewater Healthcare Group, LLC,
dated May 20, 2014, is available for free at http://is.gd/KS87Rg

                        About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

Apollo Medical reported a net loss of $4.55 million for the year
ended Jan. 31, 2014, following a net loss of $8.90 million for the
year ended Jan. 31, 2013.  As of Jan. 31, 2014, the Company's
balance sheet showed $3.95 million in total assets, $5.65 million
in total liabilities and a $1.69 million total stockholders'
deficit.


ATLS ACQUISITION: Seeks Sept. 30 Extension to Deal with Leases
--------------------------------------------------------------
ATLS Acquisition, LLC seeks an extension to September 30, 2014, to
assume or reject unexpired leases of nonresidential real property
pursuant to Section 365(a)(4) of the Bankruptcy Code. The Court
previously extended the lease deadline to June 30, 2014.  Each of
the three affected landlords has consented to the September 30
extension. The Debtor contends that cause exists for the
extension.  The Debtor has been focused on resolving litigation
with Alera, Inc., Arriva Medical, LLC and others as well as
developing and implementing a revised business plan.  The Debtor
has also been working to resolve claims by CMS.  The Debtor is
current on rent payments and intends to continue making timely
payments until the leases are accepted or rejected.

The Debtor is represented by Dennis A. Meloro, Esq. at Greenberg,
Traurig, LLP of Wilmington, Delaware and Nancy A. Mitchell, Esq.
and Matthew L. Hinker, Esq. at the New York, New York office of
Greenberg Taurig.


AMINCOR INC: Amends 2013 Form 10-K Report
-----------------------------------------
Amincor, Inc., filed with the U.S. Securities and Exchange
Commission a second amendment to its annual report on Form 10-K
for the year ended Dec. 31, 2013.  The Company disclosed a net
loss of $16.61 million on $28.67 million of net revenues for the
year ended Dec. 31, 2013, as compared with a net loss of $33.16
million on $51.24 million of net revenues in 2012.

As of Dec. 31, 2013, the Company had $28.59 million in total
assets, $42.71 million in total liabilities and a $14.12 million
total deficit.

Rosen Seymour Shapss Martin & Company 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 suffered recurring net losses
from operations and has a working capital deficit of $34,430,921
and a (deficit) equity of $14,124,422 as of Dec. 31, 2013.
According to the auditor's report, the future of the Company is
dependent upon its ability to raise debt and equity financing, and
to achieve profitable operations.  These conditions raise
substantial doubt about its ability to continue as a going
concern.

A full-text copy of the Amendment No.2 to the Form 10-K is
available for free at http://is.gd/ktBbcU

                        About Amincor Inc.

New York, N.Y.-based Amincor, Inc., is a holding company
operating through its operating subsidiaries Baker's Pride, Inc.,
Environmental Holdings Corp. and Tyree Holdings Corp., and Amincor
Other Assets, Inc.

BPI is a producer of bakery goods.  Tyree performs maintenance,
repair and construction services to customers with underground
petroleum storage tanks and petroleum product dispensing
equipment.

Through its wholly owned subsidiaries, Environmental Quality
Services, Inc., and Advanced Waste & Water Technology, Inc., EHC
provides environmental and hazardous waste testing and water
remediation services in the Northeastern United States.

Other Assets, Inc., was incorporated to hold real estate,
equipment and loan receivables.  As of March 31, 2013, all of
Other Assets' real estate and equipment are classified as held for
sale.

As of March 31, 2014, the Company had $27.09 million in total
assets, $43.81 million in total liabilities and a $16.71 million
total deficit.


BANNING COMMUNITY: Fitch Affirms 'BB+' Tax Allocation Bonds Rating
------------------------------------------------------------------
Fitch Ratings has affirmed Banning Community Redevelopment Agency,
California's (the agency) tax allocation bonds (TABs) at 'BB+' as
follows:

  -- $29 million TABs (Merged Downtown & Midway Redevelopment
     Project) series 2007.

The Rating Outlook is Stable.

Security

Per the indenture, the TABs are secured by non-housing tax
increment net of county administrative fees and senior pass-
throughs. The TABs additionally are payable from the former 20%
housing set-aside on a subordinate basis to any outstanding
housing debt per dissolution statute.

Key Rating Drivers

Extremely Low Av Cushion: The 'BB+' rating reflects the agency's
historically volatile pledged revenue stream, and the TAB's
extremely low 9% assessed valuation (AV) cushion (defined as the
degree of AV loss required to cause debt service coverage to fall
to a sum sufficient amount).

Av Cushion Improvement: Despite various negative pressures cited
below, the TABs' AV cushion improved year-over-year due to rising
AV and residual housing availability. The magnitude of the
improvement was not sufficiently material to result in a positive
rating action, however.

Tax Override Uncertainties: Fitch was not able to conclusively
confirm whether current receipt of a tax rate override will
continue under dissolution. Fitch's analysis conservatively
assumes the override is discontinued moving forward.

Rating Sensitivities

Tax Override Considerations: Positive rating action is possible if
Fitch receives definitive evidence that the agency's tax rate
override revenues will continue to be allocated to the agency.

Tax Base Performance Is Key: Future AV performance significantly
outside of Fitch's range of expectations may result in positive or
negative rating action.

Credit Profile

The city of Banning is located in western Riverside County, 84
miles east of downtown Los Angeles and 23 miles west of Palm
Springs, situated on the major I-10 distribution route.

The merged project area is large at 3,283 acres and makes up a
significant part of the city, encompassing 22% of the city's land
area and roughly a third of its population of almost 34,000.
Banning's income levels are well below state and national averages
and April 2014 unemployment was quite high at 9.6%, though down
from the prior year's 11.1% rate. The city is in its fifth year of
employment recovery following a severe economic contraction during
the housing-led recession.

Improving Tax Base Prospects After Years Of Steep Decline

The project area's tax base shrank for four consecutive years,
with a steep peak to trough AV loss of 23.2% (30.9% of incremental
AV [IV]) from fiscal years 2009-2013. The magnitude of the AV loss
reflected a combination of a lack of tax base maturity and a
distressed housing market. In fiscal 2014 AV grew for the first
time since fiscal 2009, marking a solid 5.2% increase.

Fitch believes the tax base is well positioned for growth in
fiscal 2015 due to rapidly appreciating home prices. Year-over-
year home gains through Jan. 1, 2014 (the valuation date from
which fiscal 2015 AV levels are calculated) increased by a robust
29.4% according to Zillow. Proposition 13 will limit the tax
base's overall gains to a lower amount, however Fitch views
positively the valuation tailwinds created by a rapidly recovering
housing market, as well as a handful of new developments in the
project area with positive long-term prospects. These developments
include a $25 million five acre mixed use project and a motor
sport vehicle showroom. In addition, a new state courthouse, while
not taxable, may spur additional private development. It is
unclear, however, when these developments may augment AV levels.

Extremely Low Debt Service Coverage Despite Av Improvement

The tax base pressures noted above lowered annual debt service
(ADS) coverage to an extremely low 1.17x in fiscal 2013 from 1.47x
in 2010. Fitch-estimated ADS coverage in fiscal 2014 improved
somewhat to 1.26x due to solid AV growth and the availability of
residual housing tax increment revenues (see 'Analytical
Refinement Considers Positive Effects of Dissolution' below for
more information). Based on these levels, Fitch estimates the
TABs' AV cushion at a low 14%. Fitch-calculated coverage would be
materially higher (about 1.44x) if not for uncertainty regarding
the continued receipt of tax rate overrides noted below.

Net Revenues Lowered By Override Status

The agency historically received a .17% tax rate override. Fitch
is now concerned the override, which would have added an estimated
$540,000 (17% of total available increment) to Fitch-estimated net
available increment in fiscal 2014, may not be available to the
agency moving forward based on certain dissolution statutory
concerns. Fitch was unable to verify the validity of these
concerns and is assuming that the override is not available in its
coverage calculations. Definitive evidence to the contrary may
result in a positive rating action.

Analytical Refinement Considers Positive Effects Of Dissolution

On May 1 Fitch refined its California RDA analysis pertaining to
the beneficial impact of dissolution legislation (AB 1X 26). Fitch
now considers TAB liens to be closed and residual housing revenues
to be available for non-housing TAB debt service. Although Fitch
views these factors as positive credit characteristics, they did
not result in a positive rating action as they were offset by the
tax rate override and pass-through payment status issues noted
above.

Fitch formerly excluded positive dissolution factors from
consideration, reflecting a conservative approach to a dissolution
environment marked by legislative, administrative, and judicial
uncertainty. Two-and-a-half years and six recognized obligation
payments schedule (ROPS) cycles have passed since dissolution,
during which the factors have benefitted TAB credit quality with
no successful legal challenges to date. Although uncertainties
remain, Fitch views the continued presence of closed TAB liens and
residual housing revenue availability as more likely than not to
remain a feature of California TABs.

Satisfactory Ab 1x 26 Implementation

The successor agency (SA) appears to be in compliance with its
indenture and dissolution requirements. The SA reports that it is
not subject to cash flow issues due to its use of a DOF-approved
debt service reserve on its first semi-annual ROPS.


BAY INDUSTRIAL: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Bay Industrial Safety Services Inc.
        PO Box 178
        Robinson, IL 62454

Case No.: 14-60259

Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       Southern District of Illinois (Effingham)

Judge: Hon. Laura K. Grandy

Debtor's Counsel: Robert E Eggmann, Esq.
                  DESAI EGGMANN MASON LLC
                  7733 Forsyth Blvd, Suite 2075
                  St Louis, MO 63105
                  Tel: (314) 881-0800
                  Fax: (314) 881-0820
                  Email: reggmann@demlawllc.com

Total Assets: $581,239

Total Liabilities: $1.78 million

The petition was signed by Glenn Parker, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilsb14-60259.pdf


BIOFUEL ENERGY: Gets NASDAQ Listing OK Pending JBGL Acquisition
---------------------------------------------------------------
Biofuel Energy Corp had received a written decision from The
Nasdaq Stock Market LLC indicating that the Nasdaq Listings
Qualifications Panel has determined to grant the Company's request
for continued listing on The Nasdaq Capital Market, provided that
(1) on or before Nov. 4, 2014, the Company closes the previously
announced acquisition of the equity interests of JBGL Builder
Finance LLC and certain subsidiaries of JBGL Capital, LP, from
certain affiliates of Greenlight Capital, Inc., and James R.
Brickman and (2) the resulting combined company satisfies all
requirements for initial listing on The Nasdaq Capital Market upon
consummation of the transaction.  The Company is diligently
working to complete the acquisition and the related transactions,
including the preparation of a Nasdaq listing application for the
combined company, within the time period afforded by the Panel;
however, there can be no assurance that the Company will be able
to do so.

The Panel's determination follows the Company's hearing before the
Panel on June 12, 2014, at which the Panel considered the
Company's appeal of the determination by the Nasdaq Listing
Qualifications Staff to delist the Company's securities.

                       About Biofuel Energy

Denver, Colo.-based BioFuel Energy Corp. (Nasdaq: BIOF) --
http://www.bfenergy.com/-- aims to become a leading ethanol
producer in the United States by acquiring, developing, owning and
operating ethanol production facilities.  It currently has two
115 million gallons per year ethanol plants in the Midwestern corn
belt.

Biofuel Energy incurred a net loss of $45.65 million in 2013, a
net loss of $46.32 million in 2012 and a net loss of $10.36
million in 2011.  As of Dec. 31, 2013, the Company had $15.65
million in total assets, $4.60 million in total liabilities
and $11.05 million in total equity.


CAESARS ENTERTAINMENT: Bank Debt Trades at 6% Off
-------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
93.61 cents-on-the-dollar during the week ended Friday, July 4,
2014, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an increase of 0.65 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 525 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on Jan. 1, 2018, and carries Moody's B3 rating and Standard &
Poor's B- rating.  The loan is one of the biggest gainers and
losers among 205 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.


CALIFORNIA COMMUNITY: Wants to Hire Meegan Hanschu as Attorney
--------------------------------------------------------------
California Community Collaborative Inc. asks the Hon. Christopher
M. Klein of the U.S. Bankruptcy Court for the Eastern District of
California for permission to employ Meegan, Hanschu & Kassenbrock
as its attorney, effective as of June 17, 2014.

The firm is expected to:

  a) give the Debtor legal advice with respect to its duties and
     powers as a debtor-in-possession and in respect to the
     management of its property and the administration of the
     Chapter 11 estate;

  b) prepare necessary applications, schedules, answers, orders,
     reports, and other legal papers;

  c) assist the Debtor in the investigation, development, and
     prosecution of various claims, causes of actions, and the
     like;

  d) assist the Debtor in preparation, confirmation, and
     implementation of a Chapter 11 plan in its case; and

  e) perform all other legal services for the Debtor in connection
     with its Chapter 11 case.

The firm's professionals and their hourly rates;

     Partners        $400
     Associates      $300
     Paralegals      $125

The Debtor believes that the firm is a "disinterested person"
within the meaning of Section 101(14) of the Bankruptcy Code.

California Community Collaborative, Inc., filed a Chapter 11
bankruptcy petition (Bankr. E.D. Cal. Case No. 14-26351) on
June 17, 2014.  Merrell G. Schexnydre, the company's president,
signed the petition.  The Debtor estimated assets of at least $10
million and liabilities of $1 million to $10 million.  The Debtor
is represented by Meegan, Hanschu & Kassenbrock.  Judge
Christopher M. Klein presides over the case.


CALIFORNIA COMMUNITY: Seeks to Use Cash Collateral Until Sept. 30
-----------------------------------------------------------------
California Community Collaborative Inc. asks the U.S. Bankruptcy
Court for the Eastern District of California for authority to use
cash collateral of its two secured creditors, San Bernardino
County Tax Collector and California Bank and Trust, for the period
July 1, 2014, until Sept. 30, 2014.

A hearing is set for July 9, 2014, at 10:00 a.m., at Sacramento
Courtroom 35, Department C., to consider approval of the Debtor's
request.

The Debtor says it will use the cash collateral to pay ongoing
maintenance and for needed repairs, utilities, and other expenses
is necessary to help assure continued collection of rents from the
existing tenant, and to obtain a new tenant(s) for the first floor
of its real property.

The Debtor tells the Court that it holds a fee title to a two-
story office building wherein the second floor is currently under
lease to the Judicial Counsel of California that operates the
Child Support Division of the Superior Court for the County of San
Bernardino in that space.  The gross rents and charges due from
the Judicial Counsel currently totals $65,947 per month, and the
lease extends to February 2018, the Debtor notes.

The Debtor avers that the secured creditors' respective interest
will be adequately protected.

California Community Collaborative, Inc., filed a Chapter 11
bankruptcy petition (Bankr. E.D. Cal. Case No. 14-26351) on
June 17, 2014.  Merrell G. Schexnydre, the company's president,
signed the petition.  The Debtor estimated assets of at least $10
million and liabilities of $1 million to $10 million.  The Debtor
is represented by Meegan, Hanschu & Kassenbrock.  Judge
Christopher M. Klein presides over the case.


CALIFORNIA COMMUNITY: Files Amended List of Top Unsec. Creditors
----------------------------------------------------------------
California Community Collaborative Inc. filed an amended list
of creditors holding 20 largest unsecured claims.  A full-text
copy of the list is available for free at http://is.gd/jHlXl5

California Community Collaborative, Inc., filed a Chapter 11
bankruptcy petition (Bankr. E.D. Cal. Case No. 14-26351) on
June 17, 2014.  Merrell G. Schexnydre, the company's president,
signed the petition.  The Debtor estimated assets of at least $10
million and liabilities of $1 million to $10 million.  The Debtor
is represented by Meegan, Hanschu & Kassenbrock.  Judge
Christopher M. Klein presides over the case.


CALIFORNIA COMMUNITY: Files Schedules of Assets and Liabilities
---------------------------------------------------------------
California Community Collaborative Inc. filed its summary of
schedules of assets and liabilities with the U.S. Bankruptcy Court
for the Eastern District of California, disclosing total assets of
$12,091,300, and total liabilities of $10,168,430.  A full-text
copy of the schedules is available for free at http://is.gd/iiQ1MT

California Community Collaborative, Inc., filed a Chapter 11
bankruptcy petition (Bankr. E.D. Cal. Case No. 14-26351) on
June 17, 2014.  Merrell G. Schexnydre, the company's president,
signed the petition.  The Debtor estimated assets of at least $10
million and liabilities of $1 million to $10 million.  The Debtor
is represented by Meegan, Hanschu & Kassenbrock.  Judge
Christopher M. Klein presides over the case.


CARAUSTAR INDUSTRIES: Moody's Ratings on Review for Downgrade
-------------------------------------------------------------
Moody's placed all ratings of Caraustar Industries Inc. on review
for downgrade, including the corporate family rating of B2,
probability of default rating of B2-PD, the Ba2 rating on the ABL
revolving credit facility and B2 rating on the first lien term
loan. The action follows the company's announcement that it has
entered into an agreement to acquire The Newark Group, Inc., a
manufacturer of recycled paperboard, linerboard, industrial tubes,
cores and other converted product including book covers and
packaging solutions. Headquartered in Cranford, NJ, The Newark
Group has approximately 1500 employees and operates over 20
manufacturing facilities in the US and Canada, including six
paperboard mills.

On Review for Downgrade:

Issuer: Caraustar Industries, Inc.

Corporate Family Rating, Placed on Review for Downgrade,
currently B2

Probability of Default Rating, Placed on Review for Downgrade,
currently B2-PD

Senior Secured Bank Credit Facility May 1, 2019, Placed on Review
for Downgrade, currently B2

Senior Secured Bank Credit Facility May 1, 2018, Placed on Review
for Downgrade, currently Ba2

Outlook Actions:

Issuer: Caraustar Industries, Inc.

Outlook, Changed To Rating Under Review From Negative

Ratings Rationale

Pro-forma for debt-financed shareholder dividend in February 2014,
Caraustar's Debt/ EBITDA at December 31, 2013 as adjusted by
Moody's, stood at 5.4x. Given elevated leverage, the company's
ratings could be downgraded to the extent that any debt raised to
consummate the acquisition increases expected leverage above 6x.
The ratings could also come under pressure if the company's
margins were expected to contract following the acquisition. That
said, Moody's acknowledges the potential synergies in bringing the
two companies together, including larger market share, increased
scale and geographic footprint, benefits from vertical
integration, enhanced ability to supply recycled fiber to the
company's paper mills, and other cost savings.

The review will focus on combined company's pro-forma leverage
metrics, the extent of synergies that can be achieved, and
integration risks given the transformative nature of the
transaction.

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

Caraustar Industries, Inc. is an integrated manufacturer of 100%
recycled paperboard and converted paperboard products. Caraustar
serves the four principal recycled boxboard product end-use
markets: tubes and cores; folding cartons; gypsum facing paper and
specialty paperboard products. The company has six uncoated
recycled board (URB) mills, one coated recycled board (CRB) mill,
31 tube and core converting plants, and 8 folding carton
converting plants. The company is based in Austell, Georgia and
had revenues of $733 million in 2013. Private investment firm
H.I.G. Capital acquired Caraustar in April 2013 from previous
equity owner Wayzata Investment Partners for approximately $470
million. Wayzata has owned Caraustar since it emerged from Chapter
11 bankruptcy in mid-2009.


CASH STORE: Issues Default Status Report
----------------------------------------
The Cash Store Financial Services Inc. provided a default status
report in accordance with the alternative information guidelines
in National Policy 12-203 Cease Trade Orders for Continuous
Disclosure Defaults.

On May 16, 2014, the Company announced that it was not able to
file an interim financial report and interim management's
discussion and analysis for the period ended March 31, 2014,
together with the related certifications of those interim filings
by May 15, 2014, the deadline prescribed by securities
legislation.

Except as disclosed in previous press releases, there have been no
material changes to the information contained in the Default
Announcement or any other changes required to be disclosed by
National Policy 12-203.

The Company still intends to file the Continuous Disclosure
Documents as soon as is commercially reasonable, or as required by
the Ontario Superior Court of Justice (Commercial List) pursuant
to the Cash Store Financial's Companies' Creditors Arrangement Act
("CCAA") proceedings.

The Monitor has filed with the Court periodic reports which have
included Cash Store Financial's cash flow projections and other
financial information concerning the Company.  The Company
anticipates that the Monitor will continue to file reports with
the Court (and post them on its website), updating relevant
financial information concerning the Company.  The Monitor's
reports, Court records and other details regarding the Company's
CCAA proceedings are available on the Monitor's Web site at
http://cfcanada.fticonsulting.com/cashstorefinancial/.

                    About Cash Store Financial

Headquartered in Edmonton, Alberta, Cash Store Financial Services
Inc. (TSX: CSF) is a lender and broker of short-term advances and
provider of other financial services in Canada.  Cash Store
Financial operates 510 branches across Canada under the banners
"Cash Store Financial" and "Instaloans". Cash Store Financial also
operates 27 branches in the United Kingdom.

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

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


CATALYST GROUP: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Catalyst Group Limited Partnership
           aka Cinnamon Woods
           aka Cinnamon Woods Manufactured Home Park
           aka Cinnamon Woods Manufactured Homes Community
           aka Cinnamon Woods 55+ Community
        4515 King George Court
        Perry Hall, MD 21128

Case No.: 14-20624

Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Hon. Robert A. Gordon

Debtor's Counsel: Marc E. Shach, Esq.
                  COON & COLE, LLC
                  401 Washington Ave., Suite 501
                  Towson, MD 21204
                  Tel: 443-857-9718
                  Email: mshach@ccclaw.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Sherman Hill, managing member UTE
Development, LLC.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mdb14-20624.pdf


CENTRAL AMERICAN RELIEF: Case Summary & 3 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Central American Relief Foundation (CARF)
        2757 West 8th Street
        Los Angeles, CA 90005

Case No.: 14-22929

Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       Central District Of California (Los Angeles)

Judge: Hon. Julia W. Brand

Debtor's Counsel: Anthony Egbase, Esq.
                  LAW OFFICES OF ANTHONY O EGBASE & ASSOCIATES
                  350 S Figueroa St Ste 189
                  Los Angeles, CA 90071
                  Tel: 213-620-7070
                  Fax: 213-620-1200
                  Email: info@anthonyegbaselaw.com

Total Assets: $2.25 million

Total Liabilities: $747,085

The petition was signed by Maria Luisa Vela, secretary.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb14-22929.pdf


CHOCTAW RESORT: S&P Lowers Rating on $150MM Sr. Notes to 'B-'
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its issue-level rating
on Choctaw Resort Development Enterprise's (CRDE) $150 million
senior unsecured notes due 2019 by one notch to 'B-' from 'B',
reflecting additional senior secured debt in the capital
structure.  S&P removed the rating from CreditWatch, where it
placed it with negative implications on April 8, 2014.  CRDE
recently closed on a new $145 million senior secured credit
facility due 2019 to refinance its outstanding $70 million term
loan and to finance planned renovation projects and various other
corporate projects.

The new credit facility increases the amount of priority claims
ahead of the existing senior unsecured notes.  Specifically, S&P
expects priority claims, including a full draw on the new senior
secured facility, will be greater than 30% of CRDE's forecasted
total assets following the completion of the renovation plan.
This is in line with an issue-level rating on the unsecured notes
two notches below the issuer credit rating, according to S&P's
criteria.

Also, S&P withdrew its 'B+' issue-level rating on CRDE's previous
$70 million term loan as this facility was repaid in full.

The issuer credit rating on CRDE is 'B+' and the outlook is
positive.

RATINGS LIST

Choctaw Resort Development Enterprise
Corporate Credit Rating               B+/Positive/--

Downgraded; Removed From Watch
                                       To           From
Choctaw Resort Development
Enterprise Senior Unsecured            B-           B/Watch Neg

Ratings Withdrawn
                                       To           From
Choctaw Resort Development
Enterprise Senior Secured              NR           B+


COATES INTERNATIONAL: Southridge Intends to Buy $10-Mil. Shares
---------------------------------------------------------------
Coates International, Ltd., has signed an agreement with
Southridge Partners II LP, which establishes a $10 million equity
line of credit financing facility.

Pursuant to this Equity Purchase Agreement, Southridge will commit
to purchase up to $10,000,000 of the Company's stock over the
course of 36 months.  The Company is required to register the
shares of common stock with the Securities and Exchange
Commission.

George J. Coates President & CEO, stated, "the funds will be
accessed at our sole option for our manufacturing of industrial
generators in the USA."

The Company said it is forging ahead with the Chinese $100,000,000
transaction.  Licenses are being drawn up at this moment and a
deposit is to be received by the 15th of this month.  One COATES
CSRV(R) industrial natural gas generator will be shipped to China.
The industrial complex in China for the COATES production plant
has already been selected and it is approximately one square mile.
This gives the company the ability to manufacture all engine
applications from the smallest to the largest industrial engines,
including marine applications.

The Company gives no assurance that it will be successful in
consummating this license agreement.

A full-text copy of the Equity Purchase Agreement is available for
free at http://is.gd/b06yaf

                    Board OKs Stock Conversion

On July 3, 2014, the board of directors consented to (i) the
conversion of all of the 181,664 shares of Series A Preferred
Stock, $0.001 par value per share held by George J. Coates into
shares of Series B Convertible Preferred Stock, $0.001 par value
per share at a conversion rate of one share of Series B for each
share of Series A, (ii) an anti-dilution award of an additional
75,000 shares of Series B to Mr. Coates; and (iii) a modified
anti-dilution plan, effective as of July 3, 2014, for George J.
Coates, Chairman, president, chief executive officer and majority
shareholder.

Each share of Series A entitles the holder to 10,000 votes at any
meeting where corporate matters are brought before the
shareholders for a vote.  Holders of shares of Series A Preferred
Stock do not have any rights to share in any dividends or profits
or any other distribution and do not have any liquidation rights.
All of these shares that were outstanding are being cancelled and
restored to unissued status.

Each share of Series B entitles the holder to 1,000 votes at any
meeting where corporate matters are brought before the
shareholders for a vote.  The Series B is restricted, unregistered
stock which is not convertible until the second annual anniversary
after the date of issue, after which each share is freely
convertible into 1,000 restricted, unregistered shares of common
stock.  In the event of a sale or change of control of the
Corporation, the Series B will become immediately convertible.

The anti-dilution award of an additional 75,000 shares of Series B
to Mr. Coates was determined to be the number of shares of Series
B required to restore Mr. Coates' ownership percentage of
outstanding common stock on a pro forma basis to 78%, assuming all
of the Series B shares were converted into common stock.  The
ownership percentage of 78% represents the percentage of
outstanding common stock that Mr. Coates held at Dec. 31, 2002.

The net effect of the cancellation of all of the shares of Series
A and the issuance of 256,664 shares of Series B on the number of
total votes held by Mr. Coates is to reduce his number of votes
from 2,091,150,787 to 517,142,267.

Under the Modified Plan, for each new share of common stock issued
by the Corporation to non-Coates family members in the future,
additional shares of Series B will be issued to Mr. Coates equal
to that number of shares of Series B required to maintain his
ownership percentage of outstanding shares of common stock
outstanding on a pro forma basis, at 78%.

These anti-dilution provisions do not apply to new shares of
common stock issued in connection with exercises of employee stock
options, a public offering of the Corporation's securities or a
merger or acquisition.

In the event that all of the 256,664 shares of Series B being
issued to Mr. Coates as of July 3, 2014, is converted by Mr.
Coates once the conversion restrictions lapse, he would be issued
an additional 256,664,000 new restricted shares of common stock.
On a pro forma basis, based on the number of shares of common
stock outstanding as of July 3, 2014, this would dilute the
ownership percentage of non-affiliated stockholders from 29.7% to
18.2%.

To the extent that additional shares of Series B are issued under
the Modified Plan, the non-affiliated stockholders' percentage
ownership of the Corporation would be further diluted.

                     About Coates International

Based in Wall Township, N.J., Coates International, Ltd.
(OTC BB: COTE) -- http://www.coatesengine.com/-- was incorporated
on August 31, 1988, for the purpose of researching, patenting and
manufacturing technology associated with a spherical rotary valve
system for internal combustion engines.  This technology was
developed over a period of 15 years by Mr. George J. Coates, who
is the President and Chairman of the Board of the Company.

The Coates Spherical Rotary Valve System (CSRV) represents a
revolutionary departure from the conventional poppet valve.  It
changes the means of delivering the air and fuel mixture to the
firing chamber of an internal combustion engine and of expelling
the exhaust produced when the mixture ignites.

Coates International reported a net loss of $2.75 million on
$19,200 of total revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $4.53 million on $19,200 of total
revenues for the year ended Dec. 31, 2012.]

As of March 31, 2014, the Company had $2.36 million in total
assets, $5.48 million in total liabilities and a $3.11 million
total stockholders' deficiency.

Cowan, Gunteski & Co., P.A., in Tinton Falls, New Jersey, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2013.  The independent
auditors noted that the Company continues to have negative cash
flows from operations, recurring losses from operations, and a
stockholders' deficiency.


COMMONWEALTH RENEWABLE: Case Summary & 20 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Commonwealth Renewable Energy, Inc.
        1090 Freeport Road, Suite 2
        Pittsburgh, PA 15238

Case No.: 14-22724

Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       Western District of Pennsylvania (Pittsburgh)

Judge: Hon. Gregory L. Taddonio

Debtor's Counsel: Paul J. Cordaro, Esq.
                  CAMPBELL & LEVINE, LLC
                  1700 Grant Building
                  Pittsburgh, PA 15219
                  Tel: 412-261-0310
                  Fax: 412-261-5066
                  Email: pjc@camlev.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Stephen C. Frobouck, president.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/prb14-22724.pdf


COMSTOCK MINING: Restricted Stock Granted to CEO 60% Vested
-----------------------------------------------------------
Comstock Mining Inc., on Dec. 21, 2011, granted 2,750,000 shares
of restricted stock to Corrado De Gasperis, the Company's
president and chief executive officer, under the Comstock Mining
Inc. 2011 Equity Incentive Plan, subject to certain vesting
requirements.

On July 1, 2014, 60% of the Shares vested based upon specific
performance-based criteria and additional time-based requirements
of Mr. De Gasperis' employment agreement and based upon the
certification by the compensation committee of the board of
directors of the Company of the attainment of both the validation
of qualified resources of at least 2,000,000 ounces of gold
equivalent and the sustainment of mining operations at specific,
annual production rates.  The Company withheld 650,000 shares to
be sold by the Plan's administrator to meet the Company's tax
withholding obligations with respect to the vested Shares.  Other
than the Shares withheld to meet the Company's tax withholding
obligations, Mr. De Gasperis has not sold any Shares.

                       About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. is a Nevada-based,
gold and silver mining company with extensive, contiguous property
in the historic Comstock district.  The Company began acquiring
properties in the Comstock in 2003.  Since then, the Company has
consolidated a substantial portion of the Comstock district,
secured permits, built an infrastructure and brought the
exploration project into test mining production.  The Company
continues acquiring additional properties in the Comstock
district, expanding its footprint and creating opportunities for
exploration and mining.  The goal of the Company's strategic plan
is to deliver stockholder value by validating qualified resources
(measured and indicated) and reserves (probable and proven) of
3,250,000 gold equivalent ounces by 2013, and commencing
commercial mining and processing operations by 2011, with annual
production rates of 20,000 gold equivalent ounces.

Comstock Mining incurred a net loss available to common
shareholders of $25.36 million in 2013, a net loss available to
common shareholders of $35.13 million in 2012 and a net loss
available to common shareholders of $16.30 million in 2011.  As of
Dec. 31, 2013, the Company had $43.99 million in total assets,
$23.75 million in total liabilities and $20.24 million in total
stockholders' equity.


CONTOURGLOBAL POWER: Moody's Changes B3 CFR Outlook to Negative
---------------------------------------------------------------
Moody's Investors Service has changed to negative, from stable,
the outlook on the B3 corporate family rating (CFR) and
probability of default rating (PDR) of B3-PD of ContourGlobal L.P.
(Contour), as well as the B3 rating on the $400 million 7.125%
senior secured notes due in 2019 (the Notes), issued by
ContourGlobal Power Holdings S.A. (the Issuer) on 20 May 2014,
with a loss given default (LGD) assessment of LGD4. Concurrently,
Moody's has affirmed these ratings.

Ratings Rationale

The outlook change follows recent announcements by Bulgaria's
State Energy and Water Regulatory Commission (SEWRC, the
Regulator) regarding Contour's Bulgarian power asset, Maritsa,
which Moody's views as evidencing an increasingly challenging
political environment.  If the Regulator's objective of reducing
NEK's electricity costs is achieved, it could have a material
negative impact on Contour. Maritsa is Contour's most significant
cash flow contributor, which the company expects 1) to account for
35% of 2014 adjusted EBITDA and 2) to be a significant contributor
of cash distributions to its Contour parent
over at least the next 10 years.

Maritsa and Natsionalna Elektricheska Kompania (NEK, not rated)
are parties to a 15 year power purchase agreement (PPA) that
expires in 2024, whereby Maritsa sells electricity to NEK on an
availability basis, at a contractually set price. As a result of a
reduction in energy consumption and wholesale power prices in
Bulgaria over recent years the price paid by NEK is currently
higher than wholesale prices.

On May 29, the Regulator announced that it had requested that NEK
renegotiate its contract with Maritsa to achieve at least a 20%
reduction in cost and provide for part of the plant's production
to be sold on the open market. Further, on June 25, the Regulator
announced that it had asked the European Commission (EC) to act in
relation to what SEWRC alleges is unlawful state aid being
received by the Maritsa power plant. The Regulator asserts that
Contour's PPA, together with a similar PPA between NEK and a
subsidiary of The AES Corporation (Ba3 stable), represent unlawful
state aid within the context of the Treaty on the Functioning of
the European Union. NEK's requirement to purchase electricity
under the PPA is not, according to the Regulator, consistent with
the principles and objectives of the Third Energy Package. Moody's
understands that neither the Regulator nor NEK have the power to
unilaterally amend the terms of the PPA. However, the
announcements evidence an adverse political environment, which
Moody's believe increases the risk that Moody's  projections for
revenue and cash generation at Maritsa may not be achieved.

The Maritsa operating company is highly leveraged with project
finance debt. A reduction in revenues, following any amendment of
the NEK PPA, may result in the company having insufficient cash
flow to fund distributions, or those distributions being blocked
under the terms of the project finance debt, to the detriment of
Contour's credit quality.

SEWRC sets the energy tariffs that NEK is allowed to charge its
customers. High electricity and district heating prices in
Bulgaria caused widespread protests in 2013, resulting in the
resignation of the government. Whilst SEWRC approved a 2% average
increase in electricity prices, effective 1 July, electricity
costs continue to be politically sensitive in the country. Certain
of NEK's PPAs and agreements with renewables energy providers are
perceived to be onerous on NEK, including the PPA agreed with
Maritsa.

NEK has historically paid invoices under Contour's PPA late,
suggesting an existing degree of cash flow strain caused by NEK's
inability to recover its costs from electricity consumers.
Notwithstanding late payment issues, Moody's expects that NEK, as
a Bulgarian state owned entity, intends to honour its obligations
under the Contour PPA. Furthermore, Moody's believes there is no
certainty that the EC will concur with the Regulator's view or
that the Regulator is, alone, sufficiently empowered (either
legally or politically) to ensure changes are made to PPA terms.

The B3 CFR positively reflects the diverse and largely contracted
generating portfolio operated through the group's subsidiaries.
The rating is constrained by (1) high leverage at the operating
subsidiaries and reliance on distributions from these entities to
meet obligations at the holding company level, including the
Notes, (2) the concentration of projected cash flow from just a
few power assets, and (3) the current number and size of
development projects. The B3 rating of the Notes further takes
into account the guarantee of the Issuer's obligations by its
parent company and certain subsidiaries as described above.

The CFR consolidates the legal and financial obligations of
Contour and the other guarantors, together with the Issuer. It
factors in the financial and other covenants under the terms of
the Notes and further takes into account liquidity expected to be
available at the holding company level to enable the Issuer to
accommodate potential downside scenarios, including delays or
reductions in distributions from the operating companies.

Rationale For Negative Outlook

Maritsa is Contour's most significant cash flow contributor.
Moody's believes that, should a change to Contour's PPA terms
eventuate and Maritsa was unable to make distributions to its
Contour parent for an extended period, the Issuer's financial
metrics would likely be negatively affected. If dividend payments
from the Maritsa operating company to Contour are excluded,
Moody's projected HoldCo interest cover falls to less than 3x by
2019, compared with just under 5x under the rating agency's base
case when the rating was assigned in May 2014.

What Could Change The Rating Up/Down

Given the negative outlook, there is currently no upward rating
pressure. The outlook could be stabilised if Moody's forms the
view that the terms and conditions of the Maritsa PPA will be
honoured over its full term.

Conversely, negative rating pressure would be likely if a
renegotiation or other change to the Maritsa PPA occurs and
distributions from Maritsa appeared likely to be materially lower
than forecast. Also, downward rating pressure would likely result
if (1) the planned $30 million liquidity facility or sufficient
cash balances are not maintained as expected or (2) there are
significant delays or increased costs to Contour on development
projects.

The B3 rating on the Notes is in line with the indicated rating
under Moody's LGD methodology. Based on Contour's B3 CFR, and
based strictly on the priority of claims within the Contour
parent, the LGD model suggests a rating of B3 (LGD4) for the
Notes. Inclusion of the planned liquidity facility in the LGD
assessment would not affect the outcome.

The principal methodology used in these ratings was the
Unregulated Utilities and Power Companies methodology published in
August 2009.  Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.


COYOTE MOON: U.S. Trustee Seeks to Dismiss Case
-----------------------------------------------
Peter C. Anderson, the United States Trustee for Region 16, seeks
to dismiss the chapter 11 bankruptcy case filed by Coyote Moon
L.P.  The case should be dismissed, the U.S. Trustee said, because
the Debtor lost possession and title to its primary asset and
thereby lacks the ability to generate income to reorganize.
Dismissal is also necessary because the Debtor has not filed any
monthly operating reports and has failed to comply with the U.S.
Trustee Guidelines applicable to debtors-in-possession.

Coyote Moon is a single asset real estate entity.  The U.S.
Trustee recounted that on January 14, 2014, the Court found that
the Debtor filed chapter 11 in bad faith as part of a scheme to
hinder, delay and defraud creditors from exercising their state
law remedies with respect to two properties.  The Court granted a
lender permission to foreclose and the lender recently completed
its foreclosure efforts. As a result, the Debtor does not own any
property to manage or a business to operate, does not generate
cash flow, and does not claim any future sources of income or
revenue.

After the Court granted stay relief, the Debtor and its counsel
lost interest in the case, the U.S. Trustee said.  The Debtor did
not file any monthly operating reports or pay its quarterly fees.
The Debtor's counsel did not file an employment application. The
Debtor's failure to comply with the debtor-in-possession reporting
requirements constitutes "cause" to dismiss.

                         About Coyote Moon

San Bernardino, California-based Coyote Moon L.P. filed a Chapter
11 bankruptcy petition (Bankr. C.D. Cal. Case No. 13-30080) in
Riverside, California, on Dec. 17, 2013.  The Debtor estimated
assets of at least $10 million and liabilities of between
$1 million and $10 million.  Gil Rodriguez, Jr., signed the
petition as general partner.  Stephen R Wade, Esq., at The Law
Offices of Stephen R Wade, serves as the Debtor's counsel.  Judge
Wayne E. Johnson presides over the case.


COYOTE MOON: Court Dismisses Chapter 11 Bankruptcy Case
-------------------------------------------------------
The Hon. Wayne Johnson of the U.S. Bankruptcy Court for the
Central District of California dismissed, at the behest of the
U.S. Trustee, the Chapter 11 bankruptcy case of Coyote Moon LP.
Judge Johnson ordered the Debtor to pay $650 in unpaid Chapter 11
quarterly fees to the U.S. Trustee.

San Bernardino, California-based Coyote Moon L.P. filed a Chapter
11 bankruptcy petition (Bankr. C.D. Cal. Case No. 13-30080) in
Riverside, California, on Dec. 17, 2013.  Gil Rodriguez, Jr.,
signed the petition as general partner.  Stephen R Wade, Esq., at
The Law Offices of Stephen R Wade, serves as the Debtor's counsel.
Judge Wayne E. Johnson presides over the case.  The Debtor listed
total assets of $19,580,000 and total liabilities of $7,538,408.


CVS TRANSPORT: Case Summary & 13 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: CVS Transport of NC, Inc.
        2030 Montclair Circle
        Hickory, NC 28602

Case No.: 14-50476

Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       Western District of North Carolina (Statesville)

Judge: Hon. Laura T. Beyer

Debtor's Counsel: Jimmy R. Summerlin, Jr., Esq.
                  YOUNG, MORPHIS, BACH & TAYLOR, L.L.P.
                  P.O. Drawer 2428
                  400 Second Ave., NW
                  Hickory, NC 28603
                  Tel: (828) 322-4663
                  Fax: (828) 322-2023
                  Email: jimmys@hickorylaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Charles T. Fulbright, president.

A list of the Debtor's 13 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ncwb14-50476.pdf


DIALOGIC INC: Two Directors Elected at Annual Meeting
-----------------------------------------------------
The 2014 annual meeting of stockholders of Dialogic Inc. was held
on June 27, 2014, at which the stockholders elected Nick De Roma
and Rajneesh Vig as directors to hold office until the 2017 Annual
Meeting of Stockholders and until their successors are elected and
qualified.  The proposal to ratify the Company's audit committee's
selection of KPMG LLP as the Company's independent registered
public accounting firm for the fiscal year ending Dec. 31, 2014,
was approved.

Each of Dion Joannou, Patrick Jones and W. Michael West will
continue to serve as directors until the 2015 Annual Meeting of
Stockholders and until his successor is elected and has qualified,
or until his earlier death, resignation or removal.  Each of Kevin
Cook and Giovanni Piasentin will continue to serve as directors
until the 2016 Annual Meeting of Stockholders and until his
successor is elected and has qualified, or until his earlier
death, resignation or removal.

                           About Dialogic

Milpitas, Cal.-based Dialogic Inc. provides communications
platforms and technology that enable developers and service
providers to build and deploy innovative applications without
concern for the complexities of the communication medium or
network.

Dialogic Inc. reported a net loss of $53.93 million in 2013
following a net loss of $37.61 million in 2012.  The Company's
balance sheet at March 31, 2014, showed $61.67 million in total
assets, $133.61 million in total liabilities and a $71.93 million
total stockholders' deficit.

                         Bankruptcy Warning

"In the event of an acceleration of our obligations under the Term
Loan Agreement or Revolving Credit Agreement and our failure to
pay the amounts that would then become due or our failure to pay
amounts due at maturity on March 31, 2015, the Revolving Credit
Lender or Term Lenders could seek to foreclose on our assets.  As
a result of this, we would likely need to seek protection under
the provisions of the U.S. Bankruptcy Code and/or our affiliates
might be required to seek protection under the provisions of
applicable bankruptcy codes.  In that event, we could seek to
reorganize our business, or we or a trustee appointed by the court
could be required to liquidate our assets.  In either of these
events, whether the stockholders receive any value for their
shares is highly uncertain.  If we needed to liquidate our assets,
we might realize significantly less from them than the value that
could be obtained in a transaction outside of a bankruptcy
proceeding.  The funds resulting from the liquidation of our
assets would be used first to pay off the debt owed to secured
creditors, including the Term Lenders, Revolving Credit Lender,
followed by any unsecured creditors, before any funds would be
available to pay our stockholders.  If we are required to
liquidate under the federal bankruptcy laws, it is unlikely that
stockholders would receive any value for their shares," the
Company said in the quarterly report for the period ended
March 31, 2014.


E H MITCHELL: Parties Continue SARE Dispute
-------------------------------------------
E.H. Mitchell and Company, LLC has filed an opposition to Reginald
J. Laurent's Motion to have the Debtor declared a "Single Asset
Real Estate Entity" (SARE).  The Debtor also requests that the
Bankruptcy Court for the Eastern District of Louisiana deny
Laurent's Motion for dismissal of the Debtor's Chapter 11 case.

The Debtor asserts that SARE designation is of no consequence in
this case since SARE designation is generally used to lift the
automatic stay in cases where a petition is filed as a means of
avoiding foreclosure.  In this case, the Debtor owns 871 acres in
St. Tammany Parish, Louisiana.  One portion is under a sand and
gravel lease while the other is leased to a hunting club.  The
lease payments are the Debtor's sole source of income.

The Debtor points out that Section 101(51)B of the Bankruptcy Code
establishes SARE designations, and that all three Sec. 101(51)B
requirements must be satisfied before a debtor is designated as a
SARE.  Those requirements are:

  1) The real property constitutes a single property or project;

  2) The property itself generates most of the Debtor's income;
     and

  3) The Debtor is not involved in other major business
     operations.

The Debtor argues that it operates substantial business other than
the operation of real estate, such as timber operations. The
Debtor contends that there is a difference between a commercial
lease of a building and a sand and gravel lease.  The former
merely provides the receipt of rent while the latter generates
payments for the sale of assets generated by the property itself.
The Debtor cites as support In re Scotia Pacific Co., 508 F.3d 213
(5th Cir. 2007), wherein the 5th Circuit determined that timber
operations constituted substantial business operations other than
operation of the real property.

The Debtor also contends that its petition was not filed in bad
faith and should not be dismissed because there is legal authority
for the proposition that a one-asset real estate venture can
validly invoke Chapter 11.  See In re Humble Place Joint Venture,
936 F.2d 814(5th Cir. 1991).

The Debtor further contends that Laurent is simply attempting to
have his fee dispute with the Debtor decided by state court Judge
Jerome Winsberg to the detriment of creditors and the estate.

Ezkovich and Co., a member of the Official Committee of unsecured
creditors, filed a similar opposition to Laurent's motion which
pointed out that Laurent is one of many creditors of the Debtor,
and that there has yet to be a determination as to whether
Laurent's claim is even valid.

Laurent then filed a reply to the oppositions of the Debtor and
Ezkovich and Co.  Laurent complains that the Debtor and Ezkovich
attempt to minimize the value of Laurent's claim, and that but for
Laurent's legal work, the Debtor would have lost the right to
grant a mineral lease on the gravel pit.  Laurent further points
out that he has a valid lien against the property of the estate
which arises from Chapter 9 of the Louisiana Revised Statues.
Laurent reiterates his argument that the Debtor is a SARE, and
argues that gross mismanagement by the Debtor led to its financial
woes since the Debtor's members paid themselves rather than paying
creditors.

Laurent cites eight grounds for dismissal of the Debtor's Chapter
11 case:

  1) The Debtor filed a false petition, false oaths, and accounts;

  2) The Debtor violated its oath at the Sec. 341 meeting;

  3) The Debtor's gross mismanagement of the estate;

  4) Unauthorized use of cash collateral by a member of
     Debtor;

  5) The Debtor's failure to meet timely reporting requirements;

  6) The Debtor's failure to timely provide information requested
     by the U.S. Trustee;

  7) The Debtor's failure to file a plan within the time frame
     fixed by Sec. 363(d)(3) of the Bankruptcy Code; and

  8) Discharge under the Debtor's liquidation plan is not
     feasible.

Reginald J. Laurent's law office is located in Slidell, Louisiana.

The Debtor is represented by Robert L. Marrero, Esq. of New
Orleans, Louisiana.

Ezkovich and Co., LLC is represented by Alan D. Eskovich, Esq. and
Aaron J. Weidenhaft, Esq. of New Orleans, Louisiana.

A hearing was conducted by Judge Jerry A. Brown on June 16 wherein
Laurent's previously filed Motion for a Protective Order was
deemed moot.

               About E. H. Mitchell & Company LLC

E. H. Mitchell & Company LLC sought protection under Chapter 11 of
the Bankruptcy Code on Oct. 8, 2013, (Case No. 13-12786, Bankr.
E.D. La.).  The case is assigned to Judge Jerry A. Brown.

The Debtor is represented by Robert L. Marrero, Esq., at Robert
Marrero, LLC, in New Orleans, Louisiana. The Debtor disclosed
$300,027,297 in assets and $1,281,148 in liabilities.

The petition was signed by Michael Furr, secretary/member.

Henry G. Hobbs, Jr., Acting United States Trustee for Region 5,
has appointed three members to the official committee of unsecured
creditors.


EASYCARE INC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Easycare Inc.
           dba Corner Homecare
        108 E. Washington Street
        Princeton, KY 42445

Case No.: 14-70833

Nature of Business: Healthcare

Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       Southern District of Indiana (Evansville)

Judge: Hon. Basil H. Lorch III

Debtor's Counsel: Wendy D. Brewer, Esq.
                  JEFFERSON & BREWER, LLC
                  P.O. Box 6277
                  11781 Belle Plaine Blvd., Suite 200
                  Fishers, IN 46037
                  Tel: 317-215-6220
                  Email: wbrewer@jeffersonbrewer.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by James Knauff, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/insb14-70833.pdf


ELEPHANT TALK: Annual Stockholders' Meeting Set on Sept. 12
-----------------------------------------------------------
Elephant Talk Communications Corp. will hold its 2014 annual
meeting of stockholders on Sept. 12, 2014, at the offices of
Lowenstein Sandler LLP at 1251 Avenue of the Americas, in New
York.

The Board of Directors of the Company has fixed the close of
business on July 28, 2014, as the record date.  Stockholders of
record as of the Record Date will be entitled to notice of and to
vote at the 2014 Annual Meeting and any adjournments or
postponements thereof.  The new deadline for notice of stockholder
proposals to be brought before the 2014 Annual Meeting is the
close of business on July 11, 2014.  Additional information
including details of the business to be conducted at the 2014
Annual Meeting, will be included in the Company's Notice of Annual
Meeting and Proxy Statement, which will be filed with the
Securities and Exchange Commission.

                        About Elephant Talk

Lutz, Fla.-based Elephant Talk Communications, Inc. (OTC BB: ETAK)
-- http://www.elephanttalk.com/-- is an international provider of
business software and services to the telecommunications and
financial services industry.

Elephant Talk reported a net loss of $22.13 million in 2013, a net
loss of $23.13 million in 2012 and a net loss of $25.31 million in
2011.  As of Dec. 31, 2013, the Company had $43.31 million in
total assets, $19.58 million in total liabilities and $23.73
million in total stockholders' equity.

"If the Company is unable to achieve the anticipated revenues or
financing arrangement with its major vendors, the Company will
need to attract further debt or equity financing.  Although the
Company has been succesful in the past in meeting its cash needs,
there can be no assurance that proceeds from additional revenues,
vendor financings or debt and equity financings, where required,
will be received in the required time frames.  If this occurs, the
Company may, therefore, be unable to continue its operations.  As
of December 31, 2013, these conditions raise substantial doubt
about the Company's ability to continue as a going concern.  The
financial statements do not include any adjustments that might
result from the outcome of this uncertainty," the Company said in
the Annual Report for the year ended Dec. 31, 2013.


ENERGY FOCUS: Has $4.07-Mil. Net Loss in Q1 Ended March 31
----------------------------------------------------------
Energy Focus, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $4.07 million on $4.92 million of net
sales for the three months ended March 31, 2014, compared with a
net loss of $1.43 million on $4.46 million of net sales for the
same period in 2013.

The Company's balance sheet at March 31, 2014, showed $10.44
million in total assets, $5.32 million in total liabilities, and
stockholders' equity of $5.12 million.

The Company's independent public accounting firm has issued an
opinion in connection with the company's 2013 Annual Report on
Form 10-K raising substantial doubt as to its ability to continue
as a going concern.

A copy of the Form 10-Q is available:

                       http://is.gd/V1CnzS

Solon, Ohio-based Energy Focus, Inc. (OTC QB: EFOI) and its
subsidiaries engage in the design, development, manufacturing,
marketing, and installation of energy-efficient lighting systems
and solutions.


EVANS & SUTHERLAND: Peter Kellogg Holds 26.3% Equity Stake
----------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Peter R. Kellogg disclosed that as of
July 3, 2014, he beneficially owned 2,923,618 shares of common
stock of Evans & Sutherland Computer Corporation representing 26.3
percent of the shares outstanding.  A full-text copy of the
regulatory filing is available for free at http://is.gd/QKXaQl

                      About Evans & Sutherland

Salt Lake City, Utah-based Evans & Sutherland Computer Corporation
in conjunction with its wholly owned subsidiary, Spitz Inc.,
creates innovative digital planetarium systems and cutting-edge,
fulldome show content.  E&S has developed Digistar 5, the world's
leading digital planetarium with fulldome video playback, real-
time computer graphics, and a complete 3D digital astronomy
package fully integrated into a single theater system.  This
technology allows audiences to be immersed in full-color, 3D
computer-generated interactive worlds.  As a full-service system
provider, E&S also offers Spitz domes, hybrid planetarium systems
integrated with Digistar and a full range of theater systems from
audio and lighting to theater automation.  E&S markets include
planetariums, science centers, themed attraction venues, and
premium large-format theaters.  E&S products have been installed
in over 1,300 theaters worldwide.

For the nine months ended Sept. 27, 2013, the Company reported a
net loss of $793,000 on $18.42 million of sales as compared with a
net loss of $2.19 million on $17.92 million of sales for the nine
months ended Sept. 28, 2012.  The Company's balance sheet at
Sept. 27, 2013, showed $25.47 million in total assets, $50.35
million in total liabilities and a $24.88 million total
stockholders' deficit.


FALCON STEEL: Section 341(a) Meeting Set on August 8
----------------------------------------------------
A meeting of creditors in the bankruptcy case of Falcon Steel
Company will be held on Aug. 8, 2014, at 9:30 a.m. at FTW 341 Rm
7A24.  Deadline to file proofs of claim wil be on Nov. 6, 2014.

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 Falcon Steel Company

Falcon Steel Company and New Falcon Steel, LLC, sought Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Texas, Fort Worth Division (Case Nos. 14-42585 and 14-42586) on
June 29, 2014.  Falcon Steel claims to be the only American-owned
company that builds steel lattice towers for high electrical
transmission lines.

The Debtors are seeking joint administration of their Chapter 11
cases (Lead Case No. 14-42585).

Falcon Steel was formed in 1963 and has operated continuously
since that time as a manufacturer engaged in fabricating and
galvanizing structural steel for customers in the United States.
New Falcon, a subsidiary, suspended operations in June 2013 and is
being held for sale.

Falcon has three manufacturing plants in the DFW area in Texas,
with one facility in Haltom City, another in Euless, and the third
facility in Kaufman, Texas.  The company's corporate headquarters
is located at its Haltom City plant.  It currently employs
approximately 255 employees.

Falcon Steel estimated assets and debt of $10 million to $50
million.

The Debtors have tapped Forshey & Prostok, LLP, as counsel.


FOX TROT: Fighting to Keep Control; Forcht Seeks Stay Relief
------------------------------------------------------------
In the Chapter 11 case of Fox Trot Corporation, Forcht Bank N.A.
filed a motion asking the Bankruptcy Court to terminate the
automatic stay in relation to the so-called Farm property and the
Yates' personal residence, to allow the bank to complete a pending
foreclosure proceeding; to authorize the bank to apply the sale
proceeds to its claim amount; and to provide for excess sale
proceeds, if any, to be turned over to the bankruptcy estate.

Forcht Bank, in court filings dated May 29, 2014, claims that (i)
neither the Farm or the Yates' personal residence is essential or
necessary to the Debtor's effective reorganization; (ii) the Farm
and the Yates' personal residence are not involved in the
reorganization strategy of the Debtor; (iii) Forcht Bank is not
adequately protected in its interest; and (iv) creditor claims can
be paid in full through liquidation of the non-essential Farm and
personal residence.

On June 11, 2014, the Debtor and Forcht Bank advised the Court
that they agreed to extend the deadline for the Debtor to respond
to the stay motion to June 19 from June 12.

Forcht Bank is successor in interest to First National Bank of
Lexington, and Farm Credit Mid-America, PCA, formerly known as
Farm Credit Services of Mid-America, PCA.

The Debtor filed the objection on June 19, saying that Forcht
Bank, which claims in its motion to have been owed $4.11 million
as of the Petition Date, has an equity cushion of at least 49%,
which is far in advance of the threshold 20% that most courts deem
as adequate and there is nothing to suggest that the Farm is
declining in value and eroding the equity cushion.

According to the Debtor, the Farm has a value of at least $8
million, which is evidenced by multiple sources, including Fayette
County, Kentucky Master Commissioner. As Forcht Bank has alluded
to in its motion, the Farm was scheduled to be sold by the Fayette
County, Kentucky Master Commissioner.

The Debtor says that it continues to be "actively engaged in the
pursuant of exit financing that would enable the Debtor to pay its
creditors, including Forcht Bank, in full." To obtain exit
financing, it is likely that the Debtor will have to utilize the
Farm as collateral, the Debtor states.

The Hon. Tracey N. Wise of the U.S. Bankruptcy Court for the
Eastern District of Kentucky in May entered an order extending the
exclusive period within which Fox Trot may file a Chapter 11 plan
until June 11, and the exclusivity period within which the Debtor
may solicit acceptances of the plan to and including Aug. 8, 2014.

On Feb. 4, 2014, the Debtor first sought extension of its
Exclusivity Periods, which the Court granted on Feb. 27.  The
Debtor explained that the 600 acres of real property in Estill
County, Kentucky, and the activities being and scheduled to be
conducted thereon by tenants BRC Alabama No. 5, LLC, and BRC
Greenfuels, LLC, and Bowie Refined Coal, LLC -- which has
contracted with Estill Property owner Fox Trot Properties, LLC,
and the Tenants to purchase refined coal from the Estill Property
-- were critical and central to the Debtor's ability to obtain
financing to exit the Chapter 11 case and develop a strategy for
proposing a confirmable plan or satisfying the claims of all
creditors in full.

"Unfortunately, and since the Court granted the First Exclusivity
Motion, the Production Facilities have not become fully
operational at the Estill Property and FT Properties has not begun
to receive royalty payments in a sufficient amount to service the
Debtor's debt obligations.  This lack of royalty payments has
impacted and limited the Debtor's ability to obtain bankruptcy
exit financing.  Therefore, the Debtor has had to adjust and alter
its strategy for proposing a confirmable plan of reorganization in
this Chapter 11 case or obtaining financing to satisfy the claims
of all creditors in full," the Debtor stated in a filing dated May
12, 2014.

The Debtor said in its May 12 court filing that the extension of
the Exclusivity Periods is necessary in order to allow FT
Properties to finalize negotiations with the Tenants and Bowie and
to put the Debtor in position to conclude the Chapter 11 case in a
manner that is fair and in the best interest of its entire
bankruptcy estate.

On May 27, Forcht Bank filed objections to the Exclusivity Period
extensions.  Forcht Bank claimed that, among other things, the
Debtor failed to offer any supporting documentation evidencing the
tenants sought after financing.

"The Bowie Letter certainly provides some assurance that there may
be a real funding source, but how and when that will translate to
payment to the creditors remains completely unclear," the bank
said.

The bank is represented by:

         KATHRYN WARNECKE RYAN, PLLC
         Kathryn Warnecke Ryan, Esq.
         836 East Euclid Avenue, Suite 200
         Lexington, KY 40502
         Tel: (859) 309-5710
         Fax: (866) 920-6654
         E-Mail: kathy@kwryanlaw.com

                    About Fox Trot Corporation

Fox Trot Corporation, which maintains its principal place of
business in Lexington, Fayette County, Kentucky, sought protection
under Chapter 11 of the Bankruptcy Code on Oct. 12, 2013 (Case No.
13-52471, Bankr. E.D. Ky.).  The case is assigned to Judge Gregory
R. Schaaf.  Adam R. Kegley, Esq., at Frost Brown Todd LLC,
represents the Debtor in its restructuring effort.  In its
schedules, the Debtor disclosed $25,570,806.02 in total assets and
$3,913,035.20 in total liabilities.

The Debtor employed Duane Cook & Associates PLC as special counsel
to advise the Debtor with respect to all matters involved in the
prosecution of an appeal and counterclaims.  The Debtor hired
David Beck, CPA, as accountant.


FOUNDATION HEALTHCARE: To Sell Shares of Common Stock
-----------------------------------------------------
Foundation Healthcare, Inc., filed a Form S-1 registration
statement with the U.S. Securities and Exchange Commission
relating to the sale of an undetermined shares of common stock.
The Company's common stock is quoted on the OTCQB under the symbol
"FDNH."  The last reported sale price of the Company's common
stock on the OTCQB on June 30, 2014, was $0.51 per share.  A full-
text copy of the preliminary prospectus is available at:

                          http://is.gd/QgynR6

                     About Foundation Healthcare

Oklahoma-based Foundation Healthcare is a healthcare services
company primarily focused on owning controlling interests in
surgical hospitals and the inclusion of ancillary service lines.
The Company currently owns controlling and noncontrolling
interests in surgical hospitals located in Texas.  The Company
also owns noncontrolling interests in ambulatory surgery centers
("ASCs") located in Texas, Oklahoma, Pennsylvania, New Jersey,
Maryland and Ohio.

Additionally, the Company provides sleep testing management
services to various rural hospitals in Iowa, Minnesota, Missouri,
Nebraska and South Dakota under management contracts with the
hospitals.  The Company provides management services to a majority
of its Affiliates under the terms of various management
agreements.  Prior to Dec. 2, 2013, the Company's name was
Graymark Healthcare, Inc.

Foundation Healthcare reported a net loss attributable to
Foundation Healthcare common stock of $20.42 million on $93.14
million of revenues for the year ended Dec. 31, 2013, as compared
with net income attributable to Foundation Healthcare common stock
of $2.45 million on $52.97 million of revenues in 2012.  The
Company's balance sheet at Dec. 31, 2013, shows $55.27 million
in total assets, $61.85 million in total liabiities, $8.70 million
in preferred noncontrolling interests and a $15.27 million total
deficit.

Hein & Associates LLP, in Denver, Colorado, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditors noted
that the Company had insufficient working capital as of Dec. 31,
2013, to fund anticipated working capital needs over the next
twelve months.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


FOUNTAIN VIEW: Case Summary & 19 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Fountain View 215 Tenant, LLC
        4 West Red Oak Lane, Suite 201
        White Plains, NY 10604

Case No.: 14-50797

Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       Western District of Louisiana (Lafayette)

Debtor's Counsel: Patrick J. Neligan, Jr., Esq.
                  NELIGAN FOLEY LLP
                  325 N. St. Paul, Ste. 3600
                  Dallas, TX 75201
                  Tel: (214) 840-5300
                  Fax: (214) 840-5301
                  Email: pneligan@neliganlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Raymond P. Mulry, designated officer.

A list of the Debtor's 19 largest unsecured creditors is available
for free at http://bankrupt.com/misc/lawb14-50797.pdf


FREESEAS INC: Incurs $10.5 Million Net Loss in First Quarter
------------------------------------------------------------
FreeSeas Inc. reported a net loss of $10.55 million on $774,000 of
operating revenues for the three months ended March 31, 2014, as
compared with a net loss of $4.39 million on $3.06 million of
operating revenues for the same period in 2013.

The Company's balance sheet at March 31, 2014, showed $79.78
million in total assets, $77.41 million in total liabilities, all
current, and $2.37 million in total shareholders' equity.

As of March 31, 2014, the Company had cash and cash equivalents of
$1.5 million.

                      Going Concern

"As a result of the historically low charter rates for drybulk
vessels which have been affecting the Company for over four years,
and the resulting material adverse impact on the Company's results
from operations, the accompanying unaudited interim condensed
consolidated financial statements for the three months ended
March 31, 2014, have been prepared on a going concern basis...
[B]ased on its cash flow projections for the remaining of 2014,
the Company will not be able to make debt repayments scheduled as
of March 31, 2014, interest payments as well as cover operating
expenses and capital expenditure requirements for at least twelve
months from the balance sheet date.

"The Company's ability to continue as a going concern is dependent
upon its ability to obtain the necessary financing to meet its
obligations and repay its liabilities arising from normal course
of business operations when they come due and to generate
profitable operations in the future," the Company stated in the
filing.

A full-text copy of the interim report as filed with the U.S.
Securities and Exchange Commission is available for free at:

                         http://is.gd/xs2Vcd

                          About FreeSeas Inc.

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

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

FreeSeas Inc. reported a net loss of $48.70 million in 2013, a net
loss of $30.88 million in 2012 and a net loss of $88.19 million in
2011.  As of Dec. 31, 2013, the Company had $87.63 million in
total assets, $74.83 million in total liabilities and $12.79
million in total shareholders' equity.

RBSM LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2013.  The independent auditors noted that the Company has
incurred recurring operating losses and has a working capital
deficiency.  In addition, the Company has failed to meet scheduled
payment obligations under its loan facilities and has not complied
with certain covenants included in its loan agreements.
Furthermore, the vast majority of the Company's assets are
considered to be highly illiquid and if the Company were forced to
liquidate, the amount realized by the Company could be
substantially lower that the carrying value of these assets.
These conditions among others raise substantial doubt about the
Company's ability to continue as a going concern.


GENCO SHIPPING: Court Confirms Prepackaged Plan of Reorganization
-----------------------------------------------------------------
Genco Shipping & Trading Limited on July 3 disclosed that the U.S.
Bankruptcy Court for the Southern District of New York confirmed
its Prepackaged Plan of Reorganization.  Upon completion of the
restructuring process, the Plan will reduce the Company's total
debt by approximately $1.2 billion and enhance its financial
flexibility.  The Company agreed with the Equity Committee on a
consensual form of confirmation order, which has been entered by
the Court.  The Equity Committee is being disbanded and no appeals
of the confirmation order will be pursued.  The company expects to
emerge from Chapter 11 in the week of July 7, 2014.

John C. Wobensmith, Chief Financial Officer, said, "We are pleased
to have reached this important milestone.  We look forward to
completing the financial restructuring process and expect to
emerge with a stronger financial foundation.  We expect to
continue providing our chartering customers the same high quality,
reliable shipping services they've come to consistently expect
from Genco.  I thank our customers and vendors for their support
throughout this process as well as our employees for their
dedication to Genco."

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

Mr. Wobensmith added, "We thank our lenders and noteholders, as
well as their advisors, who worked with us constructively to
position us to complete Genco's financial restructuring in an
expedited manner."

Additional information concerning the rights offering and the
relevant deadlines may be obtained by contacting the Company's
Subscription Agent, GCG, Inc., by telephone at (888) 213-9318
(toll-free) or (614) 763-6125 (international toll) or by e-mail at
gencorestructuring@gcginc.com

Information about the rights offering, and the Company's
bankruptcy reorganization, can also be found on the Company's
restructuring website, www.gencorestructuring.com

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

                  About Genco Shipping & Trading

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

Genco Shipping & Trading sought bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 14-11108) on April 21, 2014, to implement a
prepackaged financial restructuring that is expected to reduce the
Company's total debt by $1.2 billion and enhance its financial
flexibility.  The company's subsidiaries other than Baltic Trading
Limited (and related entities) also sought bankruptcy protection.

Genco, owned and controlled by Peter Georgiopoulos, disclosed
assets of $2.448 billion and debt of $1.475 billion as of Feb. 28,
2014.

Adam C. Rogoff, Esq., and Anupama Yerramalli, Esq., at Kramer
Levin Naftalis & Frankel LLP serve as the Debtors' bankruptcy
counsel.  Blackstone Advisory Partners, L.P., is the financial
advisor.  GCG Inc. is the claims and notice agent.

Wilmington Trust, N.A., in its capacity as successor
administrative and collateral agent under a 2007 credit agreement,
is represented by Dennis Dunne, Esq., and Samuel Khalil, Esq., at
Milbank Tweed Hadley & McCloy LLP.

Credit Agricole Corporate & Investment Bank, as agent and security
trustee under an August 2010 Loan Agreement; Deutsche Bank
Luxembourg S.A., as agent, and Deutsche Bank AG Fillale
Deutschlandgeschaft, as security agent and bookrunner under the
August 2010 Loan Agreement, are represented by Alan Kornberg,
Esq., Sarah Harnett, Esq., and Elizabeth McColm, Esq., at Paul
Weiss Rifkind Wharton & Garrison LLP.  Paul Weiss also represents
the Pre-Petition $100 Million and $253 Million Credit Facilities.

The Bank of New York Mellon, the indenture trustee for Genco's
5.00% Convertible Senior Notes due Aug. 15, 2014, and the
informal group of 5.00% Convertible Senior Notes due August 15,
2014, are represented by Michael Stamer, Esq., and Sarah Link
Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP.  Akin Gump
also represents the Informal Convertible Noteholder Group.

Kirkland & Ellis LLP's Christopher J. Marcus, Esq., Paul M. Basta,
Esq., Eric F. Leon, Esq., represent for Och-Ziff Management LP.

Brown Rudnick LLP's William R. Baldiga, Esq., represents an Ad Hoc
Consortium of Equity Holders.

Orrick, Herrington & Sutcliffe LLP's Douglas S. Mintz, Esq.,
Washington, DC, represents Deutsche Bank as Pre-Petition Lender,
and Credit Agricole, Corporate Investment Bank, as Post-Petition
Bankruptcy Lender.

Dechert LLP's Allan S. Brilliant, Esq., represents the Entities
Managed by Aurelius Capital Management, LP.

The U.S. Trustee has appointed an Official Committee of Equity
Security Holders.  The Equity Committee members are (1) Aurelius
Capital Partners, LP; (2) Mohawk Capital LLC; and OZ Domestic
Partners, LP.  It is represented by Steven M. Bierman, Esq.,
Benjamin R. Nagin, Esq., Michael G. Burke, Esq., James F. Conlan,
Esq., and Larry J. Nyhan, Esq., at Sidley Austin LLP.

Genco has filed a motion to disband the Equity Committee,
complaining that it is unnecessary and wasteful of the estates'
resources.


GENCO SHIPPING: Expects to End 2014 with $138 Million in Cash
-------------------------------------------------------------
Genco Shipping & Trading Limited, on July 3, 2014, filed with the
U.S. Securities and Exchange Commission a copy of its unaudited
financial projections.

"The Company does not as a matter of course make long-term
projections as to future revenues, earnings or other results due
to, among other reasons, the uncertainty of the underlying
assumptions and estimates," the Company clarified in the filing.
"However, for purposes of discussion materials provided to members
of the Equity Committee in the Chapter 11 Cases...the Company's
management prepared unaudited financial projections."

The Company estimated cash revenues of $312 million for 2015, $225
million for 2016, and $206 million for 2017.  The Company expects
to end 2014 with $138 million in total cash and projects $231
million of available cash at the end of 2015.

A full-text copy of the Financial Projections is available at:

                          http://is.gd/B9CdoN

                Expert Reports Relating to Valuation

In connection with the confirmation hearing in the Chapter 11
Cases, the Debtors produced reports of expert witnesses who
testified on the Debtors' behalf in respect of the valuation of
the Debtors, namely Blackstone Advisory Partners LP, Maritime
Strategies International Ltd., and Marsoft Inc.  The Company said
those reports do not predict or reflect post-confirmation trading
prices of the reorganized Company's common stock.  Those
securities may trade at substantially lower or higher prices
because of a number of factors.  According to the Debtors, the
trading prices of securities issued under the Plan are subject to
many unforeseen circumstances and therefore cannot be predicted.

In addition, the Equity Committee has also filed the reports of
Rothschild Inc. and CMG Advisory Services LLC on the case docket
for the Chapter 11 Cases.  These reports were prepared in
connection with the litigation commenced by the Equity Committee
to oppose confirmation of the Plan.  The Debtors do not agree with
the views expressed by the Equity Committee in the litigation or
in any report, declaration or pleading filed by the Equity
Committee.

                   About Genco Shipping & Trading

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

Genco Shipping & Trading sought bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 14-11108) on April 21, 2014, to implement a
prepackaged financial restructuring that is expected to reduce the
Company's total debt by $1.2 billion and enhance its financial
flexibility.  The company's subsidiaries other than Baltic Trading
Limited (and related entities) also sought bankruptcy protection.

Genco, owned and controlled by Peter Georgiopoulos, disclosed
assets of $2.448 billion and debt of $1.475 billion as of Feb. 28,
2014.

Adam C. Rogoff, Esq., and Anupama Yerramalli, Esq., at Kramer
Levin Naftalis & Frankel LLP serve as the Debtors' bankruptcy
counsel.  Blackstone Advisory Partners, L.P., is the financial
advisor.  GCG Inc. is the claims and notice agent.

Wilmington Trust, N.A., in its capacity as successor
administrative and collateral agent under a 2007 credit agreement,
is represented by Dennis Dunne, Esq., and Samuel Khalil, Esq., at
Milbank Tweed Hadley & McCloy LLP.

Credit Agricole Corporate & Investment Bank, as agent and security
trustee under an August 2010 Loan Agreement; Deutsche Bank
Luxembourg S.A., as agent, and Deutsche Bank AG Fillale
Deutschlandgeschaft, as security agent and bookrunner under the
August 2010 Loan Agreement, are represented by Alan Kornberg,
Esq., Sarah Harnett, Esq., and Elizabeth McColm, Esq., at Paul
Weiss Rifkind Wharton & Garrison LLP.  Paul Weiss also represents
the Pre-Petition $100 Million and $253 Million Credit Facilities.

The Bank of New York Mellon, the indenture trustee for Genco's
5.00% Convertible Senior Notes due Aug. 15, 2014, and the
informal group of 5.00% Convertible Senior Notes due August 15,
2014, are represented by Michael Stamer, Esq., and Sarah Link
Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP.  Akin Gump
also represents the Informal Convertible Noteholder Group.

Kirkland & Ellis LLP's Christopher J. Marcus, Esq., Paul M. Basta,
Esq., Eric F. Leon, Esq., represent for Och-Ziff Management LP.

Brown Rudnick LLP's William R. Baldiga, Esq., represents an Ad Hoc
Consortium of Equity Holders.

Orrick, Herrington & Sutcliffe LLP's Douglas S. Mintz, Esq.,
Washington, DC, represents Deutsche Bank as Pre-Petition Lender,
and Credit Agricole, Corporate Investment Bank, as Post-Petition
Bankruptcy Lender.

Dechert LLP's Allan S. Brilliant, Esq., represents the Entities
Managed by Aurelius Capital Management, LP.

The U.S. Trustee has appointed an Official Committee of Equity
Security Holders.  The Equity Committee members are (1) Aurelius
Capital Partners, LP; (2) Mohawk Capital LLC; and OZ Domestic
Partners, LP.  It is represented by Steven M. Bierman, Esq.,
Benjamin R. Nagin, Esq., Michael G. Burke, Esq., James F. Conlan,
Esq., and Larry J. Nyhan, Esq., at Sidley Austin LLP.

Genco has filed a motion to disband the Equity Committee,
complaining that it is unnecessary and wasteful of the estates'
resources.


GOWEX SA: Files for Bankruptcy Protection After Chairman Quits
--------------------------------------------------------------
Ilan Brat, writing for The Wall Street Journal, reported that
Spanish technology firm Gowex SA said it had filed for bankruptcy
protection after the company's chairman acknowledged falsifying
accounts and resigned.

According to the report, the collapse of Gowex, which until last
week was widely touted as one of Spain's entrepreneurial success
stories, followed a scathing report by an investment firm on July
1 that alleged that 90% of the company's revenue was nonexistent.
In a statement filed with Spain's Alternative Stock Market on
Sunday, Gowex said that Chairman and Chief Executive Jenaro Garcia
met with some directors on Saturday and acknowledged that
accounting statements for at least the past four years didn't
reflect a "faithful image" of the company's performance, the
Journal related.


INTERNATIONAL TEXTILE: Tranche B Note Maturity Extended to 2019
---------------------------------------------------------------
International Textile Group, Inc., and the holders of the
Company's Tranche B Senior Subordinated Notes issued by the
Company pursuant to that certain Note Purchase Agreement,
originally dated as of June 6, 2007, entered into Amendment No. 8
to the Note Purchase Agreement.  Pursuant to the Note Purchase
Agreement Amendment, the maturity date of $150.2 million of
Tranche B Notes outstanding as of June 30, 2014, has been extended
to June 30, 2019.

The Note Purchase Agreement Amendment does not affect any other
provision of the Tranche B Notes, nor does it apply to the Tranche
B Notes expected to be cancelled upon final approval by the court
of a previously announced Stipulation and Settlement Agreement
entered into by the Company in February 2014.  As of June 30,
2014, the outstanding balance of those Tranche B Notes expected to
be cancelled under the Stipulation and Settlement Agreement,
together with interest that accrued on those notes since Dec. 31,
2013, was $23.3 million.  The Company currently expects that the
final approval of the Stipulation and Settlement Agreement will be
received, and that the related settlement will be effected, in the
third quarter of 2014, although no assurances thereof can be
provided.

The Tranche B Notes are held by certain entities affiliated with
the Company's chairman of the board and are classified as "Senior
Subordinated Notes - Related Party" on the Company's consolidated
balance sheet.  Those related parties currently hold approximately
89% of the Company's total voting power.

                   About International Textile

International Textile Group, Inc., is a global, diversified
textile manufacturer headquartered in Greensboro, North Carolina,
with current operations principally in the United States, China,
Mexico, and Vietnam.  ITG's long-term focus includes the
realization of the benefits of its global expansion, including
reaching full production at ITG facilities in China and Vietnam,
and continuing to seek other strategic growth opportunities.

International Textile reported a net loss attributable to common
stock of the Company of $10.91 million in 2013, as compared with a
net loss attributable to common stock of the Company of $91.45
million in 2012.

As of March 31, 2014, the Company had $339.75 million in total
assets, $431.21 million in total liabilities and a $91.46 million
total stockholders' deficit.


INVENT VENTURES: Posts $120K Net Loss in First Quarter
------------------------------------------------------
INVENT Ventures, Inc., filed its quarterly report on Form 10-Q,
disclosing a net loss of $120,109 on $45,671 of total revenues for
the three months ended March 31, 2014, compared with a net loss of
$155,475 on $33,196 of total revenues for the same period in 2013.

The Company's balance sheet at March 31, 2014, showed $6.86
million in total assets, $1.63 million in total liabilities, and
stockholders' equity of $5.22 million.

The Company incurred a loss from operations of $132,310 during the
three months ended March 31, 2014.  The Company's only sources of
cash flow have been from investments in the Company's common
stock, borrowing on the company's line of credit, issuances of
convertible notes, management fees from portfolio companies, and
loans from its CEO.  If the Company is unable to continue to raise
sufficient capital to meet its operating needs or generate cash
flow from operations, substantial doubt exists regarding the
Company's ability to continue as a going concern, according to the
regulatory filing.

A copy of the Form 10-Q is available:

                       http://is.gd/gwOuXR

                      About INVENT Ventures

Las Vegas, Nevada-based INVENT Ventures, Inc., formerly known as
Los Angeles Syndicate of Technology, Inc., is a technology venture
fund that creates, builds, and invests in web and mobile
technology companies.  The Company develops businesses in the
consumer Internet, mobile and biotechnology markets, and owns six
companies at different stages of development.


JACKSON MANOR: Case Summary & 12 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Jackson Manor 1691 Tenant, LLC
        4 West Red Oak Lane, Suite 201
        White Plains, NY 10604

Case No.: 14-50796

Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       Western District of Louisiana (Lafayette)

Debtor's Counsel: Patrick J. Neligan, Jr., Esq.
                  NELIGAN FOLEY LLP
                  325 N. St. Paul, Ste. 3600
                  Dallas, TX 75201
                  Tel: (214) 840-5300
                  Fax: (214) 840-5301
                  Email: pneligan@neliganlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Raymond P. Mulry, designated officer.

A list of the Debtor's 12 largest unsecured creditors is available
for free at http://bankrupt.com/misc/lawb14-50796.pdf


JARDEN CORP: EUR30MM Notes Offering No Impact on Moody's Ba3 CFR
----------------------------------------------------------------
Moody's Investors Service said Jarden Corporation's ("Jarden", Ba3
stable) announcement this week that it launched a EUR300 million
(around US$410 million) senior note offering is credit negative as
it increases leverage, but is consistent with Moody's
expectations and does not affect its Ba3 Corporate Family Rating
or stable rating outlook. Jarden said that the proceeds will be
used for general corporate purposes, which may include the funding
for possible acquisitions.

The principal methodology used in this rating was Global Consumer
Durables published in October 2010.


KARMAN BUYER: Moody's Assigns 'B2' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating
and a B2-PD Probability of Default Rating to Karman Buyer Corp.
("Karman", the new parent of Advantage Sales & Marketing Inc.
("ASM")) as well as B1 ratings to the company's proposed first
lien senior secured facilities and a Caa1 to the proposed second
lien facility. The proceeds will be used in conjunction with the
acquisition of majority control of Advantage Sales & Marketing
Inc. by private equity groups Leonard Green & Partners, L.P. and
CVC Capital Partners from Apax Partners and refinance existing
debt. The closing is expected in the third quarter of 2014. The
ratings outlook is negative.

Karman is proposing to raise a $2.0 billion first lien bank
facility, consisting of a $200 million 5-year revolver and a $1.8
billion 7-year term loan, and a $760 million second lien 8-year
term loan. The first lien and second lien term loans, and $1.7
billion in equity, will be used to purchase ASM equity, refinance
approximately $1.4 billion of existing debt and pay fees and
expenses. Following the close of the transaction, through a series
of downstream mergers, the borrower is expected to be Advantage
Sales & Marketing Inc.

The following ratings were assigned:

Karman Buyer Corp.:

Corporate Family Rating at B2

Probability of Default rating at B2-PD

$200 million 5-year senior secured first lien revolver at B1
(LGD 3)

$1.8 billion 7-year senior secured first lien term loan at B1 (LGD
3)

$760 million 8-year senior secured second lien term loan at Caa1
(LGD 5)

The following ratings were unchanged and will be withdrawn when
the transaction closes:

Advantage Sales & Marketing Inc.:

Corporate Family Rating at B2

Probability of Default rating at B2-PD

$170 million first lien senior secured revolving credit facility
due 2017 at B1 (LGD 3)

$1.3 billion first lien senior secured term loan due 2017 at B1
(LGD 3)

$330 million second lien senior secured term loan due 2018 at Caa1
(LGD 5)

Ratings Rationale

The B2 Corporate Family Rating reflects ASM's high pro forma
leverage of above 8.0 times (including Moody's standard
adjustments including the capitalization of operating leases),
some customer concentration, ongoing acquisition risk and the
potential for dividends given ownership by private equity. Despite
this high leverage, Moody's expects that ASM will increase its
earnings via organic growth and acquisitions and the company will
utilize a portion of its free cash flow to permanently reduce debt
such that debt/EBITDA will be reduced and maintained below 7.5
times by the end of fiscal 2015. The rating also considers the
favorable free cash flow characteristics of the company's business
model, ASM's large scale within the sales and marketing agency
industry, national coverage, significant barriers to entry, the
demonstrated resilience of its operating performance during
economic downturns, a highly variable cost structure, track-record
of revenue and earnings growth, the stable nature of the
underlying products it represents, and good pro forma interest
coverage metrics.

The negative rating outlook reflects concern that while the
company is expected to improve earnings through organic growth and
acquisitions, execution risk exists and pro forma debt/EBITDA of
above 8.0 times is high for a B2 Corporate Family Rating. As a
result, there is little room within the current rating to
accommodate any modest level of under performance relative to
Moody's expectations.

The B1 rating assigned to ASM's proposed senior secured first lien
bank facility is one notch above the company's CFR. This reflects
the significant amount of second lien debt ($760 million) ranked
below the secured debt in the capital structure. The B2-PD
Probability of Default Rating reflects a 50% family recovery rate
utilized given the first lien/second lien capital structure and
that the revolver and term loans are secured by substantially all
of the company's assets.

The company's liquidity is good, supported by positive free cash
flow, access to a $200 million committed revolving credit facility
and the absence of financial maintenance covenants (the revolver
is expected to have a springing first lien net funded leverage
ratio if availability falls below a threshold amount). Moody's
notes that the proposed credit agreement allows for up to $350
million of incremental debt via an accordion feature and unlimited
incremental debt subject to compliance with a first lien net
leverage covenant.

Moody's could downgrade ASM's ratings if the company is unable to
reduce and maintain debt/EBITDA below 7.5 times by the end of
fiscal 2015. Downward ratings pressure could also be caused by
deterioration in ASM's liquidity profile, lower-than-anticipated
margin improvements, or revenues failing to grow at historical
averages. The ratings could be upgraded if ASM can improve its
EBITDA margin on a sustained basis, and use free cash to prepay
debt obligations such that debt-to-EBITDA can be brought down and
be sustained at about 5.0 times. An upgrade would also require a
demonstrated commitment to conservative financial policies with
regard to dividends and acquisitions.

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

Advantage Sales & Marketing Inc. is a national sales and marketing
agency in the U.S., providing outsourced sales, marketing and
merchandising services to manufacturers, suppliers and producers
of consumer packaged goods. In June 2014, the company announced
that its private equity owner, Apax Partners was selling its
majority stake in the company. Upon closing of the transaction,
Karman Buyer Corp., is expected, through a series of downstream
mergers to merge into, Advantage Sales & Marketing Inc, and
affiliates of the private equity firms Leonard Green & Partners,
L.P. and funds advised by CVC Capital Partners will have a
majority ownership stake in the company.


KASPER LAND: Secured Creditors Balk at Chapter 11 Plan
------------------------------------------------------
Secured creditors Herring Bank and Chain-C Inc., et al., object to
the disclosure statement explaining the Chapter 11 plan of
reorganization filed by Kasper Land and Cattle Texas LLC.

The objectors say the Disclosure Statement fails to meet the
standards established by the Bankruptcy Code, and provide them
with adequate information as would enable a hypothetical
reasonable investor typical of holders of claims or interests of
the Class 2 creditors to make an informed judgment about the plan.

The secured creditors point out that the Plan of Reorganization
provides that an insider-entity of the Debtor, Kasper Farms, J.V.,
will continue to operate the farm land owned by the Debtor under a
lease agreement, and pay a below market rate of rent on the
property in monthly payments of $51,059.  There is no information
about where the tenant will obtain sufficient income to enable it
to make the monthly rental payments to the Debtor, according to
the secured creditors.

The secured creditors added the Disclosure Statement does not
disclose that the lease that Kasper Farms, JV, purports to hold
covering the real estate owned by the Debtor was created and
executed after the bankruptcy of the Debtor was filed.

Herring Bank, et al., retained as counsel:

         David R. Langston, Esq.
         Don D. Sunderland, Esq.
         MULLIN HOARD & BROWN, LLP
         P. O. Box 2585
         Lubbock, Texas 79408-2585
         Tel: (806) 765-7491
         Fax: (806) 765-0553
         E-mail: drl@mhba.com
                 dsunderl@mhba.com

                      The Chapter 11 Plan

As reported in the Troubled Company Reporter on June 25, 2014,
the Bankruptcy Court will convene a hearing on July 10, 2014, at
1:30 p.m. to consider the adequacy of information in the First
Disclosure Statement explaining Kasper Land and Cattle Texas,
LLC's Chapter 11 Plan.

According to the Disclosure Statement dated May 31, 2014, the
Debtor will sell its farm land in parcels based on available water
resources to maximize the value and the number of willing buyers
who can more likely afford and finance a portion rather than all
of the property.  Equity Holders can participate in the sales
process.

The Debtor's revenue from the sale of the Brillhart Farm, Copeland
Farm, and the Hartley/Moore Farm Land in parcels will be
sufficient to pay the Herring Bank Notes and the $9.9 million
Chain-C, Inc., et al. Note in full.  The Herring Bank Notes
consist of the $1.9 million Copeland Farm Note, $862,500 Brillhart
Farm Note No. 1, and $319,725 Brillhart Farm Note No. 2.

The Debtor said its Plan is feasible because the Debtor will have
sufficient cash on hand and sufficient cash flow from lease
payments and the sale of land to fund the obligations under the
Plan.  Creditors holding claims against the Debtor will get 100%
of the amount of their claims.  Secured creditors will receive
interest as well.  This will be accomplished with cash flow and
the sale of land securing the claims of the Secured creditors.
Assuming the claims must be paid in full, the Debtor's cash flow
and the sale of its farm land is sufficient to pay the claims.

The Debtor has a Modified Cash Farm Lease with Kasper Farms, JV
which is critical to the success of the Plan.

The treatment of creditors holding claims against the Debtor will
be treated as follows:

     1. Class 1 - Taxes. Any Claims if any of the Internal Revenue
Service will be paid at Confirmation or as they come due. At this
time no such taxes are owed or due. Ad valorem tax authorities
will be paid in full as such taxes become due. All taxes due for
the year 2013 and prior years have been paid. Property taxes for
future years will be timely paid.  The Debtor reserves the right
to negotiate different treatment with each taxing authority
individually. There are no claims in this class.

     2. Class 2 - Senior Secured Creditors.  The Debtor will
continue to pay its Senior Secured Creditors, Herring Bank and
Chain-C, Inc. et al. their secured claims.  The Debtor will
continue to pay the property taxes due on the Property and will
maintain acceptable insurance on the improvements. The Senior
Secured Creditor shall enjoy all liens and protections afforded in
its pre-petition loan documents until the entire indebtedness is
paid in full.

     3. Class 3 - Administrative Convenience Claims. Class 3
consists of claims which are less than $2,000. If such claims are
found to exist they will be paid by Debtor in full, but without
interest 60 days after the Effective Date. Any creditor with an
allowed claim in excess of $2,000 may elect to be treated as a
Class 3 Administrative Convenience Claim by electing to accept
$2,000 in full satisfaction of its claim. There are no creditors
in this class to Debtor's knowledge.

     4. Class 4 - General Unsecured Creditors. Allowed unsecured
claims, if any, will be paid by Debtor in full, but without
interest 90 days after the Effective Date. It is anticipated that
one or more claims may be filed in this class.

     5. Class 5 - Insider Claims. This class consists of claims of
various parties who would be classified as "insiders" under the
Bankruptcy Code. These claims primarily would be claims for money
provided to Debtor to pay property taxes or the interest on the
Herring Bank and/or Chain-C, Inc. et al. notes.  Class 5 claims
may not be paid until and unless Class 2, 3 and 4 claims have been
paid in full.

     6. Class 6 - Equity Holder Claims. Class 6 consists of the
Equity Holders of Debtor. Equity Holders will retain their
interests.

A full-text copy of the Disclosure Statement is available for free
at http://is.gd/PgLj8N

                   About Kasper Land and Cattle

Kasper Land and Cattle Texas, LLC, sought Chapter 11 bankruptcy
protection (Bankr. N.D. Tex. Case No. 14-20074) in Amarillo,
Texas, on March 3, 2014.  Bill Kinkead, Esq., at Kinkead Law
Offices, serves as counsel to the Debtor.  The Debtor disclosed
$23,170,640 in assets and $13,420,213 in liabilities as of the
Chapter 11 filing.


LAKELAND INDUSTRIES: Unit Obtains RMB 8 Million in Financing
------------------------------------------------------------
As previously reported by Lakeland Industries, Inc., on March 27,
2014, the Company's China subsidiary, Weifang Lakeland Safety
Products Co., Ltd (WF), entered into a line of credit financing
arrangement with Weifang Rural Credit Cooperative Bank, which is
now known as the Shandong Anqiu Rural Commercial Bank Co., Ltd.

On June 28, 2014, WF borrowed the full committed amount of
RMB 8,000,000 (approximately US$1.3 million) under the line of
credit with Lender.  All of the then outstanding principal and
interest under the loan will be due on Dec. 24, 2014.  Borrowings
under the loan bear interest at an effective interest rate of
6.72% per annum.

WF will use the proceeds of the loan to distribute a cash dividend
to the Company pursuant to a plan for future dividends previously
approved by the Company's Board of Directors.  This dividend and
future dividend policy is part of Lakeland's worldwide cash
management program.

                      About Lakeland Industries

Ronkonkoma, N.Y.-based Lakeland Industries, Inc., manufactures and
sells a comprehensive line of safety garments and accessories for
the industrial protective clothing market.

The Company reported a net loss of $26.3 million on $95.1 million
of net sales for the year ended Jan. 31, 2013, compared with a net
loss of $376,825 on $96.3 million of sales for the year ended
Jan. 31, 2012.

In their report on the consolidated financial statements for the
year ended Jan. 31, 2013, Warren Averett, LLC, in Birmingham,
Alabama, expressed substantial doubt about Lakeland Industries'
ability to continue as a going concern.  The independent auditors
noted that Company is in default on certain covenants of its loan
agreements at Jan. 31, 2013.  "The lenders have not waived these
events of default and may demand repayment at any time.
Management is currently trying to secure replacement financing but
does not have new financing available at the date of this report."


LAKELAND INDUSTRIES: Unit Ordered to Pay $1.1MM in Labor Case
-------------------------------------------------------------
Lakeland Brazil S.A., a wholly-owned subsidiary of Lakeland
Industries Inc., received notice of a court judgment entered
against it in a labor proceeding in Brazil in the amount of
approximately USD $1,086,000.  Based on the advice of Brazilian
counsel handling the action, the Company had not anticipated a
judgment to be entered against Lakeland Brazil in this proceeding,
if at all, in excess of USD $45,000 ($R100,000), which amount was
deemed not material and therefore not previously disclosed.

Lakeland Brazil is working with, and relying upon the advice of,
new legal counsel and accountants in Brazil and intends to appeal
the judgment on the basis that, among other things, the judgment
is mathematically incorrect.

Based on review of the case with the Company's new legal counsel
and based upon their assessments of the Company's likelihood to
prevail on appeal, the Company will take a charge to earnings of
USD $380,000, which is the Company's estimate of what the outcome
will ultimately be on this case.

As a result of this and other recent developments in Brazil,
Lakeland's Board of Directors has decided to explore all strategic
options for Brazil.

                     About Lakeland Industries

Ronkonkoma, N.Y.-based Lakeland Industries, Inc., manufactures and
sells a comprehensive line of safety garments and accessories for
the industrial protective clothing market.

The Company reported a net loss of $26.3 million on $95.1 million
of net sales for the year ended Jan. 31, 2013, as compared with a
net loss of $376,825 on $96.3 million of sales for the year ended
Jan. 31, 2012.

In their report on the consolidated financial statements for the
year ended Jan. 31, 2013, Warren Averett, LLC, in Birmingham,
Alabama, expressed substantial doubt about Lakeland Industries'
ability to continue as a going concern.  The independent auditors
noted that Company is in default on certain covenants of its loan
agreements at Jan. 31, 2013.  "The lenders have not waived these
events of default and may demand repayment at any time.
Management is currently trying to secure replacement financing but
does not have new financing available at the date of this report."


LEO MOTORS: Chief Financial Officer Quits
-----------------------------------------
Thomas Cheong has resigned his position as Leo Motors Inc.'s chief
financial officer and director effective July 2, 2014.  The
Company said that Mr. Cheong's resignation was not as a result of
any disagreements with the Company's operations, policies or
practices.

                           About Leo Motors

Headquartered in Hanam City, Gyeonggi-do, Republic of Korea, Leo
Motors, Inc., a Nevada corporation, is currently engaged in the
research and development of multiple products, prototypes and
conceptualizations based on proprietary, patented and patent
pending electric power generation, drive train and storage
technologies.

In 2011, the Company determined its investment in Leo B&T Inc. an
investment account was impaired and recorded an expense of
$4.5 million.  During the 2012 year the Company had a net non
operating income largely from the result of the forgiveness of
debt for $1.3 million.

Leo Motors reported a net loss of $1.24 million on $0 of revenues
for the year ended Dec. 31, 2013, as compared with a net loss of
$1.88 million on $25,605 of revenues during the prior year.  The
Company's balance sheet at March 31, 2014, showed $1.14
million in total assets, $1.80 million in total liabilities and a
$656,382 total deficit.

John Scrudato CPA, in Califon, New Jersey, 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 significant losses since inception
of $16,871,850.  This and other factors raise substantial doubt
about the Company's ability to continue as a going concern.


LIME ENERGY: Offering 314,285 Shares Under Stock Plans
------------------------------------------------------
Lime Energy Co. filed a Form S-8 registration statement with the
U.S. Securities and Exchange Commission to register 100,000 shares
of the Company's common stock issuable under the Company's 2014
Employee Stock Purchase Plan for a proposed maximum aggregate
offering price of $260,000.  A full-text copy of the registration
statement is available at http://is.gd/wsX3K6

The Company separately filed a Form S-8 prospectus to register
214,285 shares of common stock issuable under the Company's
2010 Non-Employee Directors Stock Plan for a proposed maximum
aggregate offering price of $557,141.  A full-text copy of the
prospectus is available at http://is.gd/USazHZ

                         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 reported a net loss available to common stockholders
of $18.51 million in 2013, a net loss of $31.81 million
in 2012 and a net loss of $18.93 million in 2011.  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.


MEDICURE INC: Acquires Minority Stake in Apicore
------------------------------------------------
Medicure Inc. and its newly formed and wholly owned subsidiary,
Medicure U.S.A. Inc., have entered into an arrangement whereby
they have acquired a 6.09% equity interest in two newly formed
holding companies of which Apicore LLC and Apicore US LLC.
Medicure also received an option to acquire all of the remaining
issued shares of Apicore LLC and the holding company of Apicore US
LLC, within the next three years.

The Ownership Interest and certain other rights, including the
Option Rights, were obtained by Medicure for its lead role in
structuring a US$22.5 million, majority interest purchase and
financing of Apicore by Signet Healthcare Partners, Knight
Therapeutics Inc., and investors affiliated with Sanders Morris
Harris Inc.

Apicore is a private developer and manufacturer of specialty
Active Pharmaceutical Ingredients, that has U.S. Food and Drug
Administration approved cGMP facilities in Somerset, New Jersey
and Gujarat, India.  Apicore manufactures over 70 different API's,
including over 30 for which Drug Master Files have been submitted
to the U.S. FDA and 4 that are approved for commercial sale in the
U.S. by customers of Apicore.  Apicore specializes in manufacture
of difficult to synthesize, high value and other niche API's for
over 30 different U.S. and international generic and branded
pharmaceutical companies.

The Purchase included an equity investment by Signet and secured
loans provided by Knight and investors affiliated with Sanders in
an aggregate amount of US$22.5 million.  In addition to acquiring
the Ownership Interest, Medicure has a conditional right to
acquire all of the remaining issued shares of Apicore LLC and the
holding company of Apicore US LLC, within the next 3 years from
the Investors and the founding shareholders of Apicore, who
continue to own a significant minority interest in Apicore, for
pre-determined cash amounts.  Medicure has also received the right
to appoint a director to the Board of Directors of both holding
companies, and its initial representative on such Boards will be
Dr. Albert Friesen, who has been appointed as Chair.  In certain
circumstances, Medicure may be required to purchase a portion of
the equity of Apicore for up to US$5 million at a valuation below
that of the Purchase or Option Rights.

"Medicure is pleased to be working alongside Apicore and the
exceptional group of investors participating in this transaction,"
stated Dr. Albert Friesen, Chair and chief executive officer of
Medicure.  "In addition to helping Apicore advance its business
and increasing the value of our minority ownership interest, we
have a long term goal of leveraging this position and network to
further diversify and build Medicure's specialty pharmaceutical
business."

Medicure said that its business focus and operations will continue
to concentrate on maintaining and expanding the sales of AGGRASTAT
(tirofiban Hcl) in the United States.

                        About Medicure Inc.

Based in Winnipeg, Manitoba, Canada, Medicure Inc. (TSX/NEX:
MPH.H) -- http://www.medicure.com/-- is a biopharmaceutical
company engaged in the research, development and commercialization
of human therapeutics.  The Company has rights to the commercial
product, AGGRASTAT(R) Injection (tirofiban hydrochloride) in the
United States and its territories (Puerto Rico, U.S. Virgin
Islands, and Guam).  AGGRASTAT(R), a glycoprotein GP IIb/IIIa
receptor antagonist, is used for the treatment of acute coronary
syndrome (ACS) including unstable angina, which is characterized
by chest pain when one is at rest, and non-Q-wave myocardial
infarction.

Medicure Inc. incurred a net loss of C$2.57 million on C$2.60
million of net product sales for the year ended May 31, 2013, as
compared with net income of C$23.38 million on C$4.79 million of
net product sales during the prior fiscal year.  The Company's
balance sheet at Nov. 30, 2013, showed C$3.25 million in total
assets, C$8.52 million in total liabilities and a C$5.27 million
total deficiency.

Ernst & Young, LLP, in Winnipeg, Canada, issued a "going concern"
qualification on the consolidated financial statements for the
year ended May 31, 2013.  The independent auditors noted that
Medicure Inc. has experienced losses and has accumulated a deficit
of $125,877,356 since incorporation and a working capital
deficiency of $2,065,539 as at May 31, 2013 that raises
substantial doubt about its ability to continue as a going
concern.


MISSION NEW ENERGY: Files Material Counterclaim Against KNM
-----------------------------------------------------------
Mission NewEnergy Limited provided update on the arbitration
proceedings with KNM Process Systems Sdn Bhd (KNM) in Malaysia.

Mission's wholly owned Malaysian subsidiary, Mission Biofuels Sdn
Bhd (MBSB), has filed a counterclaim seeking specific performance
(completion of the refinery) and to recover contractual damages
including liquidated damages from late delivery, interest cost,
cost incurred on behalf of KNM and other wasted expenditures.

More materially, MBSB is also seeking damages and recovery of loss
of profit.  To date final acceptance of the plant is almost five
years overdue.  MBSB said it has lost its productive capacity
during this period and the future period until acceptance of the
refinery.  At a full rate of operation, MBSB said it could have
generated approximately US$1.25 billion in revenue from the
refinery, which will form the basis for the material counter claim
on loss of profits against KNM.

KNM is contractor to Mission's 250,000 tpa biodiesel refinery in
Malaysia.  The refinery initially was to be completed in September
2008, this date was subsequently extended to July 31, 2009.  To
date the refinery has not yet achieved final performance
acceptance pursuant to the terms of the contract.

As announced in March 2012 the matter was referred to Malaysian
arbitration.

Under the terms of the contract, the final payment due to KNM upon
final acceptance of the plant is RM30.5 million (approx. US$9.2
million).  KNM has put in a claim for this amount, interest costs,
variation orders and other expenses amounting to approximately
US$36.5m, plus damages.  In addition KNM has applied to the courts
to have Mission re-instate a Letter of Credit to cover the value
of the final payment.  Mission has rejected this claim and has
instructed its solicitors to pursue all available legal avenues to
protect Missions rights and interests.

                           Market Update

Mission continues to work with Benefuels Inc, a USA based
technology provider who has developed and successfully validated a
ground breaking and patented technology process to use lower costs
feedstocks in biodiesel production.  Mission's Group CEO, Mr.
Nathan Mahalingam confirmed that "discussions have progressed with
identifying a strategic partner in South East Asia to roll the new
business out".

Mission is awaiting the final ruling from the arbitration panel
regarding the terminated Indonesian joint venture.  The date for
the decision reading has been fixed for the July 11, 2014.

The arbitration matter between Mission and the contractor for its
250,000 tpa biodiesel plant in Malaysia, KNM Process Systems Sdn
Bhd, is in progress.

Along with the continued restructure of the Group and its
operations, two long standing Non-executive Directors, Mr. Dario
Amara and Mr. Peter Torre have retired from the Board with effect
from 1st July 2014 while Mr. James Garton, Mission's current Head
of Corporate Finance, has been appointed as a Director.

Mr. Amara was appointed as Chairman of the Board at the IPO stage
of Mission and has steered the Group through the initial
development stage of the business and subsequently through the
recent restructure process.  Mr. Amara's commitment to the Group,
and in particular his strong leadership on good corporate
governance matters has been instrumental in maintaining the
Group's survival to date amidst challenging times.

Mr. Torre was appointed in 2009 to the Board as a non-executive
Director and has brought his extensive financial and governance
expertise along with sound levels of business judgement to
Mission.

The Board of Directors thank Mr. Amara and Mr. Torre for their
invaluable contribution, dedication and commitment to Mission and
wish them well in their future endeavours.

Mr. Garton is currently Head of Corporate Finance with the group
and brings a deep level of knowledge to the Group on corporate
restructuring and funding.

Datuk Zain Yusuf, the current Deputy Chairman will take over as
the Chairman of Mission with effect from 1 July 2014.

                  Change of Share Registry Address

In accordance with listing rule 3.15.1, the Company advised that
effective June 30, 2014, Link Market Services Limited, the MBT
share registry, will be located at the following address:

            Level 4 Central Park
            152 St Georges Terrace
            Perth WA 6000

                       About Mission NewEnergy

Based in Subiaco, Western Australia, Mission NewEnergy Limited is
a producer of biodiesel that integrates sustainable biodiesel
feedstock cultivation, biodiesel production and wholesale
biodiesel distribution focused on the government mandated markets
of the United States and Europe.

The Company is not operating its biodiesel refining segment.  The
refineries are being held in care and maintenance either awaiting
a return to positive operating conditions or the sale of assets.

The Company has materially diminished its Jatropha contract
farming operation and the company is now focused on divesting the
remaining Indian assets.  The Company intends to cease all Indian
operations.

The Company's balance sheet at Dec. 31, 2013, showed $4.92 million
in total assets, $13.96 million in total liabilities and a $9.04
million total deficiency.

Mission NewEnergy disclosed net profit of A$10.05 million on
A$8.41 million of total revenue for the year ended June 30, 2013,
as compared with a net loss of A$6.19 million on A$38.20 million
of total revenue during the prior fiscal year.

BDO Audit (WA) Pty Ltd, in Perth, Western Australia, issued a
"going concern" qualification on the consolidated financial
statements for the year ended June 30, 2013.  The independent
auditors noted that the Company incurred operating cash outflows
of $3.7 million during the year ended 30 June 2013 and, as of that
date the consolidated entity's total liability exceeded its total
assets by $12.5 million.  These conditions, along with other
matters, raise substantial doubt the Company's ability to continue
as a going concern.


MNC INC: Voluntary Chapter 11 Case Summary
------------------------------------------
Debtor: MNC, Inc.
        331-333 Elmont Rd
        Elmont, NY 11003

Case No.: 14-73057

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: July 3, 2014

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

Judge: Hon. Alan S Trust

Debtor's Counsel: Ronald D Weiss, Esq.
                  RONALD D. WEISS, P.C.
                  734 Walt Whitman Road, Suite 203
                  Melville, NY 11747
                  Tel: (631) 271-3737
                  Fax: (631) 271-3784
                  Email: weiss@ny-bankruptcy.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Anthony Rene, president.

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


MONTANA ELECTRIC: Alvarez's Swick to Act as HGS Holding Trustee
---------------------------------------------------------------
Bankruptcy Judge Ralph B. Kirscher on June 20 issued an order
confirming the amended plan of reorganization by the Southern
Montana Electric Generation and Transmission Cooperative, Inc.,
paving the way for the coop to emerge from Chapter 11 protection.

The Plan reflects a comprehensive settlement among the Debtor, the
Members of the coop and the Noteholders which, from an Estate
perspective, substantially improves upon the terms of a negotiated
settlement between the Noteholders and the Trustee.  The Plan
resolves the issue of the value of the Noteholders' collateral and
eliminates the Noteholders' current claim for a $46 million "make-
whole amount".  The settlement reached with the Noteholders will
result in a material reduction of the Noteholders' debt, interest
rate relief for Reorganized Southern, and a much shorter term
within which the Noteholders' restructured debt is repaid. The
Plan also provides for recoveries to other secured creditors and
distributions to unsecured creditors that are equal to if not
greater than what they would receive if the Debtor were to be
liquidated.  The Debtor submits that the most likely alternative
to the Plan is conversion of the Debtor's case to a case under
chapter 7 of the Bankruptcy Code, and correspondingly, years of
uncertain and costly litigation among major constituents in the
case.

The Plan Order provides that on the Effective Date, the HGS
Holding Trust shall be created on behalf of the Noteholders as
beneficiaries.  Dean E. Swick of Alvarez & Marsal North America,
LLC is appointed as HGS Holding Trustee, subject to the terms of
the HGS Holding Trust Agreement. The HGS Holding Trustee need not
post a bond in connection with his service as trustee.

Reorganized Southern, at the expense of the HGS Holding Trust,
shall cooperate in good faith with the HGS Holding Trustee, the
Indenture Trustee and the Noteholders in the disposition of HGS
and any and all licenses, permits and other regulatory
documentation associated with the ownership of HGS and associated
assets in accordance with the Plan and notwithstanding any
applicable non-bankruptcy law. Reorganized Southern shall
reasonably cooperate with the reasonable requests of the HGS
Holding Trustee relating to the disposition of HGS by exercising
ownership and operational control over HGS for purposes of
testing, demonstration, and transfer of title without
representation or warranty by Reorganized Southern of any kind
other than ownership of good title and power and authority to
transfer the same, with the HGS Holding Trust bearing all costs
and liabilities associated therewith, net of any revenue or value
received by Reorganized Southern from any power generated from
such operations.

On April 21, 2014, the Debtor, as proponent, filed its Chapter 11
Plan of Reorganization -- Original Plan -- and the Disclosure
Statement.  The Original Disclosure Statement was an amendment to
the disclosure statement initially filed by the chapter 11
trustee, and approved by order of the Bankruptcy Court dated
October 13, 2013.

On May 9, 2014, the Bankruptcy Court conducted a hearing on
approval of the Original Disclosure Statement at which the Debtor
announced proposed limited modifications to the Original
Disclosure Statement to reflect comments by the Noteholders.  At
the May 9 hearing, the Court indicated that provided revisions to
the Original Disclosure Statement were filed by May 12, the Court
would approve the Disclosure Statement on an interim, conditional
basis, subject to final approval at the Confirmation Hearing.

On May 15, 2014, the Bankruptcy Court entered an Order
Conditionally Approving the Disclosure Statement and setting the
Confirmation Hearing.  The next day the Debtor filed the Amended
Disclosure Statement and Amended Chapter 11 Plan.

The Disclosure Statement Order (i) established May 29 as the
deadline for voting on the Plan, (ii) established May 30 as the
deadline for filing objections to the Plan, and (iii) scheduled a
hearing to consider final approval of the Disclosure Statement and
confirmation of the Plan for June 2 at 9:00 a.m. Mountain Standard
Time.  The Hearing was adjourned for June 13, and concluded on the
same day.

On May 20, 2014, the Debtor filed the Plan Supplement, which
included, inter alia, draft forms of amended Corporate Governance
Agreements, Restructured Notes, the HGS Holding Trust, and amended
All Requirements Contracts.  On June 12, the Debtor filed an
Amended Plan Supplement, which included final proposed forms of
the previously filed documents and agreements other than the Third
Supplemental Indenture.  The Debtor also filed a supplemental
liquidation analysis.  A fully agreed form of the Third
Supplemental Indenture was filed with the Court on June 18.

At the June 13 Hearing, the Bankruptcy Court orally confirmed the
Plan, subject, however, to the submission by the Debtor of (i) the
Construction Lienholder Stipulation Supplement, (ii) the Third
Supplemental Indenture, and (iii) a proposed form of Confirmation
Order in respective forms acceptable to the Bankruptcy Court.

Objections to confirmation of the Plan were filed by: (i) Western
Area Power Administration (with respect to the Original Plan);
(ii) PPL EnergyPlus, LLC; (iii) Official Committee of Unsecured
Creditors; (iv) EPC Services Company; (v) Yellowstone Electric
Co.; (vi) Corval Group, Inc.; (vii) Energy Corporation; (viii)
Energy West Resources, Inc. and Energy West Montana; and Falls
Construction Company.

The Court's Plan Order provides that each of the Objections to the
Plan not otherwise withdrawn, resolved or otherwise disposed of,
are overruled and denied.  All withdrawn Objections are deemed
withdrawn with prejudice.

Falls Construction Company -- a construction lienholder and member
of Class 3 under the proposed First Amended Plan -- objected to
confirmation on these grounds:

   1. Falls holds a duly perfected construction lien against
property of the Debtor.  Falls has filed a proof of claim
asserting a secured claim in the amount of $197,673, plus
postpetition interest and attorneys fees.

   2. Under the proposed plan, Falls will receive a pro-rata
distribution of a total of $3,325,000, to be shared with other
construction lienholders, pari passu.  Falls pro-rata distribution
is significantly less than the amount of its claim as of the
petition date, not including post-petition interest and attorney
fees.  The approved Disclosure Statement stated the Debtor will
file a liquidation analysis to the Disclosure Statement, but no
liquidation analysis has been filed.  Falls asserts a fully
secured claim, senior to the secured claim of the Noteholders and
the Indenture Trustee.

   3. Falls' claim is impaired under the plan.

                     Plan-Related Stipulations

On June 6, the Debtor filed the following stipulations clarifying
the treatment of certain Classes or certain other terms and
conditions under the Plan: (i) Stipulation with the Official
Committee of Unsecured Creditors which was approved by order of
the Bankruptcy Court dated June 6; (ii) Stipulation with PPL
Energy Plus, LLC, which was approved by order of the Bankruptcy
Court dated June 6; (iii) Stipulation with Construction
Lienholders, which was approved by order of the Bankruptcy Court
dated June 11, and which Construction Lienholder Stipulation was
supplemented on June 18, and approved by order of the Bankruptcy
Court dated June 19; and (iv) Stipulation with the Noteholders
which was approved by order of the Bankruptcy Court dated June 9.

On June 9, the Court approved a stipulation providing for
modification to the Debtor's First Amended Plan of Reorganization
dated May 12, 2014, to address clarifications required by Class
2(a) claims of noteholders.  The amendment was intended to clarify
or modify in a non-material manner various provisions of the Plan.
The Plan will be clarified and modified as:

   i) The final sentence of Section 1.6, which is the definition
of Associated Real Estate, will be deleted and replaced with the
following:

   "The definition does not include and is understood to exclude,
real property owned by SME Electric Generation and Transmission
Cooperative, Inc. as of the Petition Date (and not previously
granted to the Indenture Trustee by recorded security interest)
and real property owned by the Debtor not subject to the recorded
security interest of the Indenture Trustee."

  (ii) Section 1.28, which is the definition of Construction
Lienholders, will be deleted and replaced.

On June 6, the Court approved a stipulation between the Debtor and
the Unsecured Creditors Committee providing for modification
and clarification to the Debtor's First Amended Plan to address
treatment of Class 4 General Unsecured Claims, to provide for
modification and clarification of the treatment to be accorded to
Class 4 under the Plan.  The stipulation provides that:

   "Class 4 General Unsecured Claims -- except to the extent that
the holder of an Allowed General Unsecured Claim agrees to less
favorable treatment or has been paid on account of such General
Unsecured Claim prior to the Effective Date, on the Effective
Date, the Committee Representative will be paid by Reorganized
Southern the sum of $300,000 in one cash payment in full and final
satisfaction of all Class 4 General Unsecured Claims.  Allowed
Class 4 Claims will receive their Pro Rata portion of $300,000
less costs and expenses incurred by the Committee Representative
in fulfilling its duties under the Plan.  The holders of Allowed
Class 4 Claims will receive distributions from the Committee
Representative as soon as reasonably practicable after the
Effective Date; provided, however, that: a) no member of the
Debtor or Reorganized Southern (Tongue River Electric Cooperative,
Inc.; Fergus Electric Cooperative, Inc.; Mid-Yellowstone Electric
Cooperative, Inc.; and Beartooth Electric Cooperative, Inc.) will
be entitled to any distribution made hereunder for Class 4
regardless of whether the same has filed an unsecured claim in
Class 4; and b) creditor PPL Energy Plus, LLC will only receive
such distributions as may be accorded to that creditor under Class
8 of the Plan and any stipulation pertaining thereto and no Class
4 creditor will be entitled to any distribution made or paid to
Class 8 and the Class 8 creditor, PPL Energy Plus, LLC, will not
be entitled to any distribution paid or made to Class 4 described
herein."

In consideration of the Cash payment to the Committee
Representative for the benefit of Allowed Class 4 General
Unsecured Claims, the Committee agreed to support confirmation of
the Plan and not object to the Plan.

The Debtor also entered into stipulation with PPL EnergyPlus, LLC,
providing that treatment of the Class 8 Claim of PPL is modified
as:

   a. The claim of PPL currently on file will be allowed in full
to be paid within 30 days of the Effective Date.  Reorganized
Southern will pay PPL the sum of $400,000 in one cash payment in
full and final satisfaction of the Class 8 Claim of PPL.  PPL will
support confirmation of the Plan and not object to the Plan.  PPL
will be deemed to submit a ballot voting in favor of the Plan.

   b. On the Effective Date or as soon thereafter as is
practicable, Reorganized Southern will cause to be dismissed with
prejudice the PPL Litigation, each party to bear their own fees
and costs.  Reorganized Southern and PPL will cooperate on, and
will prepare, execute and file, such documents such as may be
necessary to reasonably and promptly cause such dismissal of the
PPL Litigation.  A mutual release will also be executed by and
between PPL and Reorganized Southern in form reasonably
satisfactory to each at that time constituting a release by each
party hereto of the other for any and all matters, claims and
causes of action, including but not limited to the PPL Litigation,
any claim or cause of action under Chapter 5 of the Bankruptcy
Code and any and all other claims, but not including the
performance by either party under the Plan or any Court approved
stipulation between the parties.

   c. On and after the Effective Date, Reorganized Southern will
continue to explore with PPL the possibility of PPL providing
power to Reorganized Southern.  Reorganized Southern will not,
however, be obligated to purchase power from PPL and may choose to
purchase power from any source, it being recognized and agreed
that an obligation of Reorganized Southern to purchase power from
PPL is not a condition for PPL's agreement to support the Plan or
its execution of any stipulation therefor.

   d. PPL and Class 8 will disclaim, and will be deemed to
disclaim, an interest in and to, and Reorganized Southern will
retain the sole right, title and interest in and to, any and all
preference, recovery, collection, disgorgement and avoidance
actions now on file or to be filed, and to any and all proceeds
relating thereto, and to any and all rebates, recoveries,
deposits, cash, property real and personal, intangibles, goods,
receivables, payments or amounts due and payable, assignable or
transferable to Reorganized Southern, to become due and payable,
assignable or transferable to Reorganized Southern, or now held,
possessed or owned by Reorganized Southern.

   e. PPL will only receive such distributions as may be accorded
to that creditor under Class 8 of the Plan and any Court approved
stipulation pertaining thereto and no Class 4 creditor will be
entitled to any distribution made or paid to Class 8 and the
Class 8 creditor, PPL, will not be entitled to any distribution
paid or made to Class 4 under the Plan or any Court approved
stipulation.

According to the Second Amended Disclosure Statement, the Plan is
filed with the support of the four remaining members of the Debtor
consisting of Tongue River Electric Cooperative, Inc. located in
Ashland, Montana; Fergus Electric Cooperative, Inc. located in
Lewistown, Montana; Mid-Yellowstone Electric Cooperative, Inc.,
located in Hysham, Montana; and Beartooth Electric Cooperative,
Inc. located in Red Lodge, Montana.

The Plan is also supported by all of the secured noteholders of
the Debtor consisting of The Prudential Insurance Company of
America, Universal Prudential Arizona Reinsurance Company,
Prudential Investment Management, Inc. as successor in interest to
Forethought Life Insurance Company, and Modern Woodmen of America.
Finally, incorporated within the Plan is a settlement reached with
all of the Construction Lienholders which recorded mechanic liens
against property of the Estate.

On December 31, 2013, Energy West filed with the Bankruptcy Court
a Request for Allowance And Payment Of Administrative Expense
Claims, and the Debtor and the Noteholders filed objection to the
Request.  Energy West Montana also has filed with the Bankruptcy
Court a Declaration Regarding Ownership of Easements and Rights of
Way Related to the HGS Pipeline.

On June 6, the parties submitted the matter to the Court on
stipulated facts.  On June 14, the Court entered a Memorandum of
Decision and Order denying the Energy West Request.

                  About Southern Montana Electric

Based in Billings, Montana, Southern Montana Electric Generation
and Transmission Cooperative, Inc., was formed to serve five other
electric cooperatives.  The city of Great Falls later joined as
the sixth member.  Including the city, the co-op serves a
population of 122,000.  In addition to Great Falls, the service
area includes suburbs of Billings, Montana.

Southern Montana filed for Chapter 11 bankruptcy (Bankr. D.
Mont. Case No. 11-62031) on Oct. 21, 2011.  Southern Montana
estimated assets of $100 million to $500 million and estimated
debts of $100 million to $500 million.  Timothy Gregori signed the
petition as general manager.

Malcolm H. Goodrich, Esq., and Maggie W. Stein, Esq., at Goodrich
Law Firm, P.C., in Billings, Montana, serve as the Debtor's
counsel.

After filing for reorganization in October, the co-op agreed to a
request for appointment of a Chapter 11 trustee.  Lee A. Freeman
was appointed as the Chapter 11 trustee in December 2011.  He is
represented by Joseph V. Womack, Esq., at Waller & Womack, and
John Cardinal Parks, Esq., Bart B. Burnett, Esq., Robert M.
Horowitz, Esq., and Kevin S. Neiman, Esq., at Horowitz & Burnett,
P.C.

Harold V. Dye, Esq., at Dye & Moe, P.L.L.P., in Missoula, Montana,
represents the Unsecured Creditors' Committee as counsel.

On Nov. 26, 2013, the Bankruptcy Court removed Mr. Freeman as
Chapter 11 trustee for SME, at the behest of Fergus Electric
Cooperative Inc.  Judge Ralph Kirscher said changed circumstances,
such as agreement among the co-op's members on a liquidation plan,
eliminate the need for a trustee.


MONTREAL MAINE: Lac-Megantic Fears Return of Oil Trains
-------------------------------------------------------
David George-Cosh, writing for The Wall Street Journal, reported
that a year after an oil-train explosion killed 47 people in this
small town, residents are waking up to a new reality: The oil
trains are probably coming back.  According to the report, that
upsets many of the town's 6,000 residents, who lost family,
friends and neighbors when a 74-car train carrying crude derailed
in the early morning of July 6.

The Journal said Lac-Megantic's struggle to balance the memory of
July 6 with the need for oil trains mirrors a dilemma across North
America over how to address safety in the rapidly growing crude-
by-rail business as hydraulic fracturing sucks millions of barrels
of oil from shale rock.

                      About Montreal Maine

Montreal, Maine & Atlantic Railway Ltd., the railway company that
operated the train that derailed and exploded in July 2013,
killing 47 people and destroying part of Lac-Megantic, Quebec,
sought bankruptcy protection in U.S. Bankruptcy Court in Bangor,
Maine (Case No. 13-10670) on Aug. 7, 2013, with the aim of selling
its business.  Its Canadian counterpart, Montreal, Maine &
Atlantic Canada Co., meanwhile, filed for protection from
creditors in Superior Court of Quebec in Montreal.

Robert J. Keach, Esq., at Bernstein, Shur, Sawyer, and Nelson,
P.A., has been named as chapter 11 trustee.  His firm serves as
his chapter 11 bankruptcy counsel, led by Michael A. Fagone, Esq.,
and D. Sam Anderson, Esq.  Development Specialists, Inc., serves
as the Chapter 11 trustee's financial advisor.  Gordian Group,
LLC, serves as the Chapter 11 Trustee's investment banker.

U.S. Bankruptcy Judge Louis H. Kornreich has been assigned to the
U.S. case.  The Maine law firm of Verrill Dana served as counsel
to MM&A.  It now serves as counsel to the Chapter 11 Trustee.

Justice Martin Castonguay oversees the case in Canada.

The Canadian Transportation Agency suspended the carrier's
operating certificate after the accident, due to insufficient
liability coverage.

The town of Lac-Megantic, Quebec, has sought financial aid to
restore the gutted community and a civil complaint alleges a
failure to take steps to prevent a derailment.

In the Canadian case, Andrew Adessky at Richter Consulting has
been appointed CCAA monitor.  The CCAA Monitor is represented by
Sylvain Vauclair at Woods LLP.  MM&A Canada is represented by
Patrice Benoit, Esq., at Gowling LaFleur Henderson LLP.

The U.S. Trustee appointed a four-member official committee of
derailment victims.  The Official Committee is represented by:
Richard P. Olson, Esq., at Perkins Olson; and Luc A. Despins,
Esq., at Paul Hastings LLP.

There's also an unofficial committee of wrongful death claimants
consisting of representatives of the estates of the 46 victims.
This group is represented by George W. Kurr, Jr., Esq., at Gross,
Minsky & Mogul, P.A.; Daniel C. Cohn, Esq., at Murtha Cullina LLP;
Peter J. Flowers, Esq., at Meyers & Flowers, LLC; Jason C.
Webster, Esq., at The Webster Law Firm; and Mitchell A. Toups,
Esq., at Weller, Green Toups & Terrell LLP.

After the U.S. Trustee formed the Official Committee, the ad hoc
committee filed papers asking the U.S. Court to have the official
committee disbanded.  The ad hoc group said it represents 46
victims of the disaster.

On Jan. 23, 2014, the Debtors won authorization to sell
substantially all of their assets to Railroad Acquisition Holdings
LLC, an affiliate of New York-based Fortress Investment Group, for
$15.7 million.  The Bankruptcy Courts in the U.S. and Canada
approved the sale.  The Fortress unit is represented by Terence M.
Hynes, Esq., and Jeffrey C. Steen, Esq., at Sidley Austin LLP.

On Jan. 29, 2014, an ad hoc group of wrongful-death claimants
submitted a plan, which would give 75% of the $25 million in
available insurance to the families of those who died after an
unattended train derailed in Lac-Megantic, Quebec, in July.  The
other 25% would be earmarked for claimants seeking compensation
for property that was damaged when much of the town burned.
Former U.S. Senator George Mitchell, a Democrat who represented
Maine in the U.S. Senate from 1980 to 1995 and who is now chairman
emeritus of law firm DLA Piper LLP, would administer the plan and
lead the effort to wrap up MM&A's Chapter 11 bankruptcy.

As reported by the Troubled Company Reporter on April 3, 2014,
Judge Kornreich ruled that the unofficial committee of wrongful
death claimants and its counsel have failed to comply with Rule
2019 of the Federal Rules of Bankruptcy Procedure, and as a result
of that failure, the Unofficial Committee and its counsel will not
be heard on any pending matter in the case.

As reported by the TCR on April 11, 2014, Judge Kornreich rejected
the disclosure statement for the Plan filed by the ad hoc group of
wrongful-death claimants, holding that the Plan is flawed and
unconfirmable.


MOUNTAINEER GAS: Fitch Affirms 'BB+' LT Issuer Default Rating
-------------------------------------------------------------
Fitch Ratings has affirmed the long-term Issuer Default Rating
(IDR) of Mountaineer Gas Company (MGC) at 'BB+' and senior
unsecured debt rating at 'BBB-'. The Rating Outlook is Stable.
Approximately $90 million of long-term debt is affected by this
rating action.

The affirmation reflects the lower risk nature of MGC's regulated
utility business offset by normal seasonal as well as weather
related gas delivery volume volatility that adds a sizable and
somewhat unpredictable measure to MGC's financial results. Driven
by a relatively cold 2013/2014 winter heating season, MGC reported
strong earnings in its key first quarter ended March 31, 2014
which typically represents 70% or more of total annual earnings.
Consequently, MGC's financial results and credit metrics in 2014
will be strong against historical performance periods although
2015 and 2016 will weaken (assuming a relatively average winter
heating season) as MGC prepares to file its 2015 General Rate Case
(GRC).

Key Rating Drivers

-- Substantially Improved Financial Profile;
-- Elevated Capex Spending;
-- 2015 GRC Outcome;
-- Adequate liquidity;
-- Ownership Structure.

Strong First Quarter 2014 Earnings

MGC reported substantially higher earnings in the first quarter of
2014 as colder than average weather conditions drove higher
volumes of natural gas sales. EBITDA, driven principally by higher
natural gas sales, grew 14% to approximately $27 million from the
prior year period.

For the latest 12 months (LTM) period ended March 31, 2014,
EBITDAR-to-interest widened to 4.6x as compared with 4.1x at year-
end Dec. 31, 2013, reflecting the higher earnings in 1Q14 modestly
offset by slightly higher interest expense related to larger bank
line borrowings. MGC will likely experience margin pressure in
2015 ahead of its GRC filing as operating expenses increase.
Routine expense items including pensions and property taxes are
not on riders. Also, MGC's margins are largely volume based
subjecting it to weather as well as customer conservation and
efficiency volume losses.

Assuming normal weather conditions, Fitch expects coverage
measures such as EBITDAR-to-interest to be pressured in 2015 and
2016 falling to approximately 3.6x over that time period in part
reflecting higher interest expense for working capital needs.

Funds from operations (FFO) fixed charge coverage at 4.3x in 2013
is expected to remain strong into 2014. Fitch models produce FFO
fixed charge coverage at 4.1x in 2014 and then weakening in 2015
and 2016 to approximately 3.0x.

Elevated Capital Investments

MGC's capex spending increased substantially 2013 with further
growth expected. From 2010 to 2012, capex averaged $13 million per
annum. In 2013, capex spending jumped to $17 million and MGC
expects capex spending to average $20 million per year from 2014
to 2016. MGC, similar to the rest of the natural gas distribution
industry is incurring higher spending for pipe integrity and
safety inspections as well as replacement of older bare steel
pipe. MGC does not have riders that allow for contemporaneous
recovery of such investments which are recovered through GRCs.

2015 General Rate Case

Fitch expects MGC to file a new GRC in 2015 with 2014 as its
historical test year. Fitch expects MGC to seek recovery riders
for pipe replacement that is more typical of the gas industry. MGC
had a constructive outcome of the last GRC. The Public Service
Commission of West Virginia (PSCWV) approved a $6.265 million rate
increase effective Nov. 1, 2012 representing approximately 60% of
MGC's revised revenue request. The new rates were based on an
authorized return on equity of 9.9%. The revenue increase is
collected through higher monthly customer charges providing
modestly greater stability to earnings and cash flows which are
modestly less dependent on sales volumes and seasonal consumption
patterns. In April 2013, the PSCWV authorized an additional $522
thousand annual revenue increase.

Adequate Liquidity

MGC's assumed responsibility for its seasonal gas supply needs
following the expiration of the Asset Management Agreement with
Sequent (a subsidiary of AGL Resources) in 2013. The arrangement
with Sequent relieved MGC of most of its working capital
requirements related to gas inventory and supply. Despite a cold
winter with requiring higher gas volumes as well as higher gas
prices, MGC managed its greater liquidity needs through its
committed $70 million bank facility. Draws against the bank
facility peaked at around $40 million and $5 million was
outstanding at March 31, 2014.

The bank facility matures in 2014 and MGC is currently seeking a
new and larger facility which Fitch expects to be obtained on
similar or better terms. MGC's next long-term debt maturity is in
2017.

Ownership Structure

MGC is jointly owned by managing partner IGS Utilities, LLC and by
private equity investors DB Nexus American Investments UK Limited
and ICON Infrastructure Partners LP. Fitch considers the ownership
structure as limiting financial flexibility in the form of capital
access especially in a period of rapidly rising capex. Financial
management policies can be aggressive. MGC has paid dividends
representing almost 100% of net income in recent years and MGC's
operating cash flows will likely be insufficient to sustain the
higher capex spending forecasted without external financing and/or
lower dividends

Rating Sensitivities

-- A Positive rating action is not likely over the next two years
   ahead of the outcome of the 2015 GRC. Fitch would view recovery
   riders for pipe replacement and weather normalization clauses
   or other riders that permit timely expense recovery and add
   stability to earnings and cash flows favorably.

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

-- An inability to earn an adequate and timely return on invested
   capital.

-- Deterioration in operating performance from unfavorable
   regulatory outcomes or inability to recover in a timely manner
   higher operating or capital expenditures.

-- Increase in leverage or distributions to owners.

-- Failure to maintain on a sustained basis an FFO fixed charge
   coverage ratio of 3.5x.


NATROL INC: Cerberus Seeks Appointment of Chapter 11 Trustee
------------------------------------------------------------
Cerberus Business Finance, LLC filed an emergency motion seeking
appointment of a Chapter 11 Trustee in Natrol, Inc.'s bankruptcy
case in the District of Delaware.  Cerberus is the administrative
agent and collateral agent under a financing agreement wherein it
loaned the Debtor $75 million.

The Debtor has made questionable payments from the loaned funds
including a $25 million payment to Fabtech, an alleged Singapore
entity, although Fabtech is not registered to do business in
Singapore and is not domiciled at the business address provided by
the Debtor. The $25 million payment to Fabtech is highly
suspicious.  First, there are two differing contracts with
Fabtech.  Each bears a different date and is signed by a different
officer of the Debtor.  The contracts are of differing page
lengths, ripe with misspellings and other irregularities, and
provide that the $25 million be wired to different offshore
accounts.  Additionally, the contracts do not delineate exactly
for what Fabtech is being paid. Since the date of the loan,
Cerberus has spent countless hours trying to get answers regarding
the Fabtech payment and other questionable disbursements by the
Debtor.

Ceberus argues that appointment of a Chapter 11 trustee is
necessary because the Debtor, who is operating as a debtor-in-
possession cannot be trusted to fulfill its fiduciary obligations
to the estate and creditors. Cerberus asserts that ample "cause"
exists for the appointment of a trustee pursuant to Section
1104(a) of the Bankruptcy Code.  In addition to the Debtor's
suspicious expenditures, two CFOs, a CEO and over a dozen more
high ranking officers and advisors of the Debtor have either been
terminated or resigned since the date of the Cerberus loan. Given
the Debtor's questionable loan to Fabtech, high rate of turnover,
general lack of business acumen, and acrimony and distrust between
the Debtor and it largest creditor, Cerberus claims that the
appointment of a Chapter 11 Trustee is in the best interest of the
creditors and the estate pursuant to Sec. 1104(a)(2) of the
Bankruptcy Code.  Cerberus alleges that creditors of the Debtor
have no valid basis for relying on the Debtor's trustworthiness or
prospects for rehabilitation with the current management structure
of the Debtor.

Cerberus is represented by Laura Davis Jones, Esq., Timothy O.
Cairns, Esq. and Peter J. Keane, Esq. at Pachulski, Stang, Ziehl &
Jones, LLP of Wilmington, Delaware and Michael L. Tuchin, Esq.,
David M. Stern, Esq., Robert J. Pfister, Esq., and Colleen M.
Keating, Esq. at Klee, Tuchin, Bogdanoff & Stern of Los Angeles,
California.

A hearing on Cerberus' Motion is set for July 11 in Wilmington,
Delaware.

                        About Natrol, Inc.

Headquartered in Chatsworth, Calif., Natrol, Inc. --
http://www.natrol.com-- is a wholly owned subsidiary of Plethico
Pharmaceuticals Limited.  Plethico Pharmaceuticals Limited (BSE:
532739. BO: PLETHICO) engages in the manufacturing, marketing and
distribution of pharmaceutical and allied healthcare products
around the world.  Natrol products are made in the U.S.
Established in 1980, Natrol, Inc. has been a global leader in the
nutrition industry, and a trusted manufacturer and marketer of a
superior quality of herbs and botanicals, multivitamins, specialty
and sports nutrition supplements made to support health and
wellness throughout all ages and stages of life.  Natrol products
are available in health food stores, drug and grocery stores, and
mass-market retailers, and through Natrol.com and other online
retailers.  Natrol distributes products nationally through more
than 54,000 retailers as well as internationally in over 40 other
countries through distribution partners.

Natrol, Inc., and its six affiliates sought bankruptcy protection
on June 11, 2014 (Case No. 14-11446, Bankr. D. Del.).  The case is
assigned to Judge Brendan Linehan Shannon.  The Debtors are
represented by Robert A. Klyman, Esq., and Samuel A. Newman, Esq.,
at GIBSON, DUNN & CRUTCHER LLP, in Los Angeles, California; and
Michael R. Nestor, Esq., Maris J. Kandestin, Esq., and Ian J.
Bambrick, Esq., at YOUNG CONAWAY STARGATT & TAYLOR, LLP, in
Wilmington, Delaware.  The Debtors' Claims and Noticing Agent is
EPIQ SYSTEMS INC.

The U.S. Trustee for Region 3 on June 19 appointed five creditors
of Natrol, Inc. to serve on the official committee of unsecured
creditors.


NATROL INC: Seeks Aug. 11 Extension to File Schedules, Statements
-----------------------------------------------------------------
Natrol, Inc. has requested an extension to August 11, 2014, to
file its Schedules of Assets and Liabilities, and Statements of
Financial Affairs.  The Debtor argues that an extension is
necessary because the Debtor's focus since filing its petition on
June 11, 2014 has been "maintaining operations with minimal
disruption", responding to Cerberus's Motion for appointment of a
Chapter 11 Trustee, prosecuting its own motion to use cash
collateral, and providing financial information to Cerberus and
the Official Committee of Unsecured Creditors.

The Debtor is represented by Michael R. Nester, Esq., Maris J.
Kandestin, Esq., and Dan J. Bambrick at Young, Conaway, Stargatt,
& Taylor, LLP of Wilmington, Delaware and Marc J. Winthrop, Esq.,
Robert E. Opera, Esq., and Peter W. Lianides, Esq. at Winthrop
Couchot Professional Corporation of Newport Beach, California.

                        About Natrol, Inc.

Headquartered in Chatsworth, Calif., Natrol, Inc. --
http://www.natrol.com-- is a wholly owned subsidiary of Plethico
Pharmaceuticals Limited.  Plethico Pharmaceuticals Limited (BSE:
532739. BO: PLETHICO) engages in the manufacturing, marketing and
distribution of pharmaceutical and allied healthcare products
around the world.  Natrol products are made in the U.S.
Established in 1980, Natrol, Inc. has been a global leader in the
nutrition industry, and a trusted manufacturer and marketer of a
superior quality of herbs and botanicals, multivitamins, specialty
and sports nutrition supplements made to support health and
wellness throughout all ages and stages of life.  Natrol products
are available in health food stores, drug and grocery stores, and
mass-market retailers, and through Natrol.com and other online
retailers.  Natrol distributes products nationally through more
than 54,000 retailers as well as internationally in over 40 other
countries through distribution partners.

Natrol, Inc., and its six affiliates sought bankruptcy protection
on June 11, 2014 (Case No. 14-11446, Bankr. D. Del.).  The case is
assigned to Judge Brendan Linehan Shannon.  The Debtors are
represented by Robert A. Klyman, Esq., and Samuel A. Newman, Esq.,
at GIBSON, DUNN & CRUTCHER LLP, in Los Angeles, California; and
Michael R. Nestor, Esq., Maris J. Kandestin, Esq., and Ian J.
Bambrick, Esq., at YOUNG CONAWAY STARGATT & TAYLOR, LLP, in
Wilmington, Delaware.  The Debtors' Claims and Noticing Agent is
EPIQ SYSTEMS INC.

The U.S. Trustee for Region 3 on June 19 appointed five creditors
of Natrol, Inc. to serve on the official committee of unsecured
creditors.


NET ELEMENT: Obtains $10 Million in Financing From RBL Capital
--------------------------------------------------------------
Net Element, Inc., had completed the closing of a $10 million
credit facility from the payments industry-leading lender, RBL
Capital Group, LLC, according to the Company's filing with the
U.S. Securities and Exchange Commission.  This closing represents
the second funding in the $30 million financing round that was
announced by the Company on April 22, 2014.

On June 30, 2014, as a result of the closing of the credit
facility under the RBL Loan Agreement, the entire principal amount
of the Secured Convertible Senior Promissory Note, dated April 21,
2014, in the original principal amount of $11,200,000 issued by
the Company to Cayman Invest, S.A., was converted into shares of
common stock of the Company constituting 15 percent of the then
outstanding shares of common stock the Company.  Accordingly, the
Note is no longer outstanding.

The effect of the new $10 million credit facility and the Cayman
Invest debt conversion is to significantly reduce the total
outstanding debt of the Company.  The Company will utilize $3
million of the $10 million credit facility to pay in full its loan
obligations to MBF Merchant Capital, LLC , a loan that was
recently restructured at a discount to the Company.

"We are pleased to be supporting Net Element's growth efforts,"
said William W. Williams, speaking on behalf of RBL Capital.
"Merchants and consumers will continue to shift to a cashless
environment and we see Net Element as an emerging leader in mobile
payments, value-added services and technologies."

Oleg Firer, CEO of Net Element commented, "I appreciate the
confidence investors have placed in our team.  This financing
enhances our ability to capture the market opportunities and
create shareholder value."  Firer continued, "We expect 2014 to be
a year of significant growth as we continue to expand our market
presence in the United States and other key markets."

Additional information regarding this financing is available for
free at http://is.gd/1Y2LTb

A full-text copy of the Loan and Security Agreement is available
for free at http://is.gd/9SJohl

                         About Net Element

Miami, Fla.-based Net Element, Inc. (formerly Net Element
International, Inc.) is a financial technology-driven group
specializing in mobile payments and other transactional services
in emerging countries and in the United States.  The Company
operates in a single operating segment, that being a provider of
transactional services and mobile payment solutions.  The
Company's operating segment is based on geographic location.
Geographic areas in which the Company operates include the United
States, where through its U.S. based subsidiaries it generates
revenues from transactional services and other payment
technologies for small and medium-sized businesses.  Through TOT
Group Russia and Net Element Russia, the Company operates the
Company's international segment focused on transactional services,
mobile payments transactions and other payment technologies in
emerging countries including Russian Federation and the
Commonwealth of Independent States ("CIS").

Net Element reported a net loss of $48.31 million in 2013, as
compared with a net loss of $16.38 million in 2012.  As of
March 31, 2014, the Company had $18.30 million in total
assets, $34.91 million in total liabilities and a $16.60 million
total stockholders' deficit.

BDO USA, LLP, in Miami, Florida, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations and has
used substantial amounts of cash to fund its operating activities
that raise substantial doubt about its ability to continue as a
going concern.


NEW CENTAUR: S&P Assigns 'BB-' Rating on $425MM Credit Agreement
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned Indianapolis-based
gaming operator New Centaur LLC's direct subsidiary Centaur
Acquisition LLC's $425 million credit agreement a 'BB-' issue-
level rating, with a recovery rating of '1', reflecting S&P's
expectation for very high (90% to 100%) recovery for lenders in
the event of a payment default.  The agreement consists of a $25
million revolver due 2019 and a $400 million first-lien term loan
due 2019.  The company will use proceeds from the term loan to
fully repay outstanding balances under the company's existing
first-lien term loan.

At the same time, S&P raised its rating on New Centaur's $175
million second-lien term loan to 'B' from 'CCC+', and revised its
recovery rating on the debt to '4' from '6'.  The '4' recovery
rating reflects S&P's expectation for average (30% to 50%)
recovery for lenders in the event of a payment default.  The
higher recovery prospects on the second lien reflect the greater
level of required amortization under the new first-lien term loan,
which results in a lower first-lien term loan balance at default
and greater enterprise value available to second-lien holders.

S&P's 'B' corporate credit rating is unchanged.  The rating
outlook is positive.

S&P's 'B' corporate credit rating on New Centaur reflects its
assessment of the company's business risk profile as "weak," and
our assessment of its financial risk profile as "highly
leveraged."

S&P's assessment of New Centaur's business risk profile as weak
reflects its narrow focus as an operator of two racinos serving
essentially the same market, and therefore exposure to regional
economic volatility that could disproportionately affect its
operations.  This risk is somewhat mitigated by S&P's expectation
that New Centaur's operating environment will remain fairly stable
over the long run since there is minimal risk for new or relocated
gaming licenses granted in Indiana.  Further, S&P expects the
impact from additional competition in Ohio will be minimal since
new competition will be located around 95 miles or more from New
Centaur's facilities, and New Centaur draws the majority of its
customers from within 50 miles.

"Our assessment of New Centaur's financial risk profile as highly
leveraged reflects our expectation for leverage to remain high, at
above 5x, and for funds from operations (FFO) to debt to remain
low, at under 12% through 2015.  Our measure of leverage includes
around $137 million in pay-in-kind loans held primarily by the
company's owners. Offsetting New Centaur's high leverage, and
driving our positive outlook, is our expectation for EBITDA
coverage of interest to remain around 3x or above through 2015,
good for the current financial risk assessment.  We also expect
modest debt reduction given required amortization provisions under
the company's term loan, and that the company will continue to
apply a modest amount of free operating cash flow generation to
optional debt reduction," S&P said.


NEWLEAD HOLDINGS: To Issue 4.6 Million Shares to Consultants
------------------------------------------------------------
NewLead Holdings Ltd. filed a Form S-8 with the U.S. Securities
and Exchange Commission to register 4,608,000 shares of the
Company's common stock issuable under the Company's Compensation
Agreements with Marc J. Ross, Seth Farbman, Shai Stern, Yoel
Goldfeder, Georgios Madianos, Richard Thacker and Troy Francisco.

Sichenzia Ross Friedman Ference LLP is acting as counsel to
NewLead Holdings in connection with United States securities laws.
An attorney employed by this law firm is presently entitled to
receive 1,088,000 shares of common stock, all of which are
issuable pursuant to a compensation agreement entered into between
the Company and Marc J. Ross, a partner of Sichenzia Ross Friedman
Ference LLP, which are being registered pursuant to the
Registration Statement.

A full-text copy of the Form S-8 prospectus is available for free
at http://is.gd/5REV19

                     About NewLead Holdings Ltd.

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.


NG2M INC: Case Summary & 7 Unsecured Creditors
----------------------------------------------
Debtor: NG2M, Inc.
           dba Elko Car Wash
        P.O. Box 374
        Kittridge #12
        Elko, NV 89801

Case No.: 14-51161

Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       District of Nevada (Reno)

Debtor's Counsel: Stephen R Harris, Esq.
                  HARRIS LAW PRACTICE LLC
                  6151 Lakeside DR, Ste 2100
                  Reno, NV 89511
                  Tel: (775) 786-7600
                  Fax: (775) 786-7764
                  Email: steve@harrislawreno.com

Total Assets: $2.94 million

Total Liabilities: $1.97 million

The petition was signed by Norval W. Moss III, president.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/nvb14-51161.pdf


PALM DRIVE: S&P Affirms 'BB' Rating on 2005 Parcel Tax Revenue
--------------------------------------------------------------
Standard & Poor's Ratings Services removed from CreditWatch with
negative implications and affirmed its 'BB' rating on Palm Drive
Health Care District, Calif.'s series 2005 parcel tax revenue
bonds and Northern California Health Care Authority's series 2010
certificates of participation (parcel tax-secured financing
program), issued on behalf of the district.  At the same time,
Standard & Poor's assigned a developing outlook to the rating.

"The rating actions are based on our view of the Measure W parcel
tax revenue statutory lien, which recently became automatic under
Assembly Bill 582 but does not create a priority on the parcel tax
revenue," said Standard & Poor's credit analyst Misty Newland.
"In addition, outlook reflects our assessment of the impact of the
hospital closure and potential elimination of operational risk,"
continued Ms. Newland.

During the current one-year outlook time frame, S&P could consider
raising the rating if the district plans to permanently close
hospital facilities, which S&P thinks would lessen the risks
associated with potential future needs to use parcel tax revenues
to support operating deficits, as has been the case in the past.
S&P could consider lowering the rating if the district were to
reopen services with a financial plan that could create
significant competing demands on parcel tax revenues or in the
event of mismanagement of recent borrowings against parcel tax
revenues affecting timeliness of future debt service payments, in
S&P's view.


PANACHE BEVERAGE: Missed $62,500 Interest Payment to Consilium
--------------------------------------------------------------
Panache Beverage, Inc., had received written notice from Consilium
Corporate Recovery Master Fund, Ltd., of an event of default under
a loan agreement in connection with a missed quarterly payment of
interest of $62,533.  Consilium, Wodka, LLC, and Panache, LLC,
entered into the Loan Agreement on Feb. 14, 2013.

On July 2, 2014, the cure period for remedying this event of
default expired without payment.  The aggregate principal amount
due under the Loan Agreement as of July 2, 2014, is $1,400,000.

The Loan Agreement provides that upon the occurrence of an event
of default, among other things, all obligations of the Company
owed to Consilium will bear the interest at the default rate of
17% per annum while such defaults exist and the Company is
required to pay Consilium a late fee of 5% of any monthly
installment of principal, interest or fees and expenses.  In
addition, upon the election of Consilium, all obligations under
the Loan Agreement may become immediately due and payable.

Pursuant to the Default Notice, Consilium has stated that it has
certain rights and remedies available to it under the Loan
Agreement which it has not waived and that it expressly reserves
all of its rights under the Loan Agreement, including, but not
limited to, the right to assert the existence of an Event of
Default; to declare all obligation due under the Loan Agreement
immediately due and payable, to commence any legal or other action
to collect any of the obligations owed Consilium or foreclose or
otherwise realize on the collateral secured under the Loan
Agreement.  Consilium has agreed that it is not at this time
seeking to charge the default interest rate or late fee on the
outstanding obligations and that it does not currently intend to
exercise any other rights and remedies available to it at this
time.

Pursuant to the Loan Agreement, Panache pledged to Consilium as
collateral (i) all of its equity interests in Wodka (constituting
65.5% of such equity interests) and (ii) its depository account,
pursuant to a Pledge and Assignment of Depository Account.

                       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.  The Company's
balance sheet at March 31, 2014, showed $6.05 million in total
assets, $14.36 million in total liabilities and a $8.31 million
total deficit.

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.


PETRON ENERGY: Judson Hoover Quits From Board of Directors
----------------------------------------------------------
Judson Hoover resigned as director of Petron Energy II, Inc.  The
Company said the resignation was not a result of any disagreement
with the Company on any matter relating to the Company's
operations, policies or practices.

Meanwhile, on July 3, 2014, Petron Energy effectuated a reverse
split of its issued common shares whereby every 500 pre-split
shares of common stock were exchanged for one post-split share of
the Company's common stock.  As a result, the total issued shares
of common stock of the Company decreased from 9,212,700,517 shares
prior to the Reverse Split to 18,425,401 shares following the
Reverse Split.  FINRA confirmed approval of the Reverse Split on
July 1, 2014, and the Reverse Split became effective on July 3,
2014.  The Reverse Split shares are payable upon surrender of
certificates to the Company's transfer agent.

                         About Petron Energy

Dallas-based Petron Energy II, Inc., is engaged primarily in the
acquisition, development, production, exploration for and the sale
of oil, gas and gas liquids in the United States.  As of Dec. 31,
2011, the Company is operating in the states of Texas and
Oklahoma.  In addition, the Company operates two gas gathering
systems located in Tulsa, Wagoner, Rogers and Mayes counties of
Oklahoma.  The pipeline consists of approximately 132 miles of
steel and poly pipe, a gas processing plant and other ancillary
equipment.  The Company sells its oil and gas products primarily
to a domestic pipeline and to another oil company.

Petron Energy reported a net loss of $4.30 million in 2013
following a net loss of $8.32 million in 2012.  As of March 31,
2014, the Company had $3.05 million in total assets, $5.21 million
in total liabilities and a $2.16 million total stockholders'
deficit.

KWCO, PC, in Odessa, TX, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2013.  The independent auditors noted that the Company's
significant operating losses since inception raise substantial
doubt about its ability to continue as a going concern.


PHILLIPS INVESTMENTS: Has Until July 8 to File Schedules
--------------------------------------------------------
Phillips Investments, Inc. has requested an extension through
July 8, 2014 to file its remaining schedules, statements, and
lists in its Chapter 11 case in the Northern District of Georgia,
Atlanta Division.  When the Debtor filed its voluntary petition on
June 11, 2014, it only filed a list of its creditors and a list of
its twenty largest unsecured creditors. The extension would make
the remaining schedules, statements and lists due three days
before the Sec. 341 meeting of creditors which is set for July
11th.

The Debtor is represented by J. Robert Williamson, Esq. and Ashley
R. Ray, Esq. at Scroggins and Williamson, P.C. of Atlanta.

The Hon. Mary Grace Diehl granted the extension.

Phillips Investments, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Ga. Case No. 14-61444) on June 11, 2014.  Ly Phillips
signed the petition as managing member.  The Debtor estimated
assets and liabilities of between $10 million to $50 million.
Scroggins & Williamson, P.C., serves as the Debtor's counsel.
Judge Mary Grace Diehl presides over the case.


PINNACLE FOODS: Moody's Confirms 'B1' CFR After Failed Merger
-------------------------------------------------------------
Moody's Investors Service has confirmed the ratings of Pinnacle
Foods Finance LLC, including its B1 Corporate Family Rating (CFR),
Ba3 senior secured bank facility rating and B3 senior unsecured
instrument rating, following the termination of its merger
agreement with Hillshire Brands Company ("Hillshire", Baa3 review
for downgrade) on July 1, 2014. Moody's also affirmed the
Speculative Grade Liquidity Rating at SGL-2. This action concludes
the rating review for upgrade that commenced on May 12, 2014 after
Pinnacle entered into an agreement to be acquired by Hillshire for
approximately $6.6 billion.

Following Pinnacle's announced merger agreement with Hillshire, a
series of unsolicited bids from Pilgrim's Pride Corporation (B1
stable) and Tyson Foods (Baa3 review for downgrade) to acquire
Hillshire ended with an $8.8 billion deal between Tyson Foods and
Hillshire. Hillshire then withdrew its support for the merger
agreement with Pinnacle, and as a result Pinnacle was entitled to
receive a $163 million break-up fee from Hillshire, which was paid
in cash after Pinnacle formally terminated the merger agreement.

Net of approximately $25 million of merger-related fees and
expenses, Pinnacle intends to use the proceeds from the break-up
fee to repay debt. Given that Pinnacle had approximately $1
billion in net operating loss carryovers at the beginning of the
year, the tax impact will be minimal. After giving effect to $138
million of debt reduction and including full-year estimated
results from the Wishbone acquisition that closed last October,
Pinnacle's pro forma debt/EBITDA as of the most recent quarter
reported March 30, 2014 is approximately 5.1x.

Ratings Rationale

Pinnacle's B1 CFR reflects the company's portfolio of mature
brands in the frozen and shelf-stable food categories that
generate relatively stable operating performance, albeit with
limited growth potential. Pinnacle competes successfully against
food companies with greater scale, capital resources and pricing
power by focusing on optimizing its brand investment and
maintaining efficient operations. The rating reflects elevated
event risk related to Pinnacle's 51% ownership by private equity
firm, The Blackstone Group ("Blackstone"), and its greater
capacity to pursue mergers and acquisitions as a public company.

Moody's has taken the following rating actions on Pinnacle Foods
Finance LLC:

Ratings Confirmed:

Corporate Family Rating at B1;

Probability of Default Rating at B1-PD;

Senior Secured Rating at Ba3, LGD-3;

Senior Unsecured Rating at B3, LGD-6.

Ratings affirmed:

Speculative Grade Liquidity Rating at SGL-2.

The outlook is stable.

Moody's affirmed the SGL-2 liquidity rating to reflect the
company's solid free cash flow generation, undrawn revolver
(except for letters of credit), and ample cushion within its
financial maintenance covenants. The break-up fee does not
meaningfully affect liquidity given Pinnacle's plans to utilize
proceeds to pay down debt.

The B3 senior unsecured debt rating is currently two notches below
the B1 CFR reflecting its effective subordination to approximately
$2.1 billion of senior secured debt instruments, which receive a
one-notch lift above the CFR.

Pinnacle's CFR could be lowered if weak operating performance or a
leveraged acquisition causes Pinnacle's debt/EBITDA to rise above
6.0 times. A ratings upgrade would be considered if Moody's
believes that Pinnacle is likely to reduce and sustain debt to
EBITDA below 4.0 times.

Headquartered in Parsippany, New Jersey, Pinnacle Foods Finance
LLC -- through its wholly-owned operating company, Pinnacle Foods
Group -- manufactures and markets branded convenience food
products in the US and Canada. Its brands include Birds Eye,
Voila, Hungry-Man and Swanson frozen dinners, Vlasic pickles, Mrs.
Paul's and Van de Kamp's frozen prepared seafood, Aunt Jemima
frozen breakfasts, Log Cabin and Mrs. Butterworth's syrup, Wish
Bone salad dressings and Duncan Hines cake mixes. Net sales for
the last twelve month period ended March 30, 2014 were
approximately $2.5 billion.

Pinnacle Foods Finance LLC is controlled by investment funds
associated with or designated by The Blackstone Group, which owns
approximately 51% of the common shares.

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


POSITIVEID CORP: Salberg Replaces EisnerAmper as Accountants
------------------------------------------------------------
PositiveID Corporation dismissed EisnerAmper LLP as its
independent registered public accounting firm on July 1, 2014.
The Company's Board of Directors approved the decision to change
independent accountants.  The Company said the dismissal was not a
result of any disagreement with the accounting firm.

EisnerAmper's report on the consolidated financial statements for
the years ended Dec. 31, 2013, and 2012 contained no adverse
opinion or disclaimer of opinion and was not qualified or modified
as to audit scope or accounting, except that the report contained
an explanatory paragraph stating that there was substantial doubt
about the Company's ability to continue as a going concern.

On July 1, 2014, the Company engaged Salberg & Company, P.A., as
its new independent registered public accounting firm.  During the
year ended Dec. 31, 2013, and prior to July 1, 2014, the Company
did not consult with Salberg on any matter, according to a Form 8-
K disclosure with the U.S. Securities and Exchange Commission.

                         About PositiveID

Delray Beach, Fla.-based PositiveID Corporation has historically
developed, marketed and sold RFID systems used for the
identification of people in the healthcare market.  Beginning in
early 2011, the Company has focused its strategy on the growth of
its HealthID business, including the continued development of its
GlucoChip, its Easy Check breath glucose detection device, its
iglucose wireless communication system, and potential strategic
acquisition opportunities of businesses that are complementary to
its HealthID business.

PositiveID reported a net loss attributable to common stockholders
of $13.33 million on $0 of revenue for the year ended Dec. 31,
2013, as compared with a net loss attributable to common
stockholders of $25.30 million on $0 of revenue in 2012.

The Company's balance sheet at Dec. 31, 2013, showed $1.40 million
in total assets, $5.82 million in total liabilities, all current,
$488,000 in mandatorily redeemable preferred stock, and a $4.91
million total stockholders' 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 a working capital deficiency and an accumulated
deficit.  Additionally, the Company has incurred operating losses
since its inception and expects operating losses to continue
during 2014.  These conditions raise substantial doubt about its
ability to continue as a going concern, the auditors stated.


REEDER REALTY: Case Summary & 3 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Reeder Realty, LLC
        5101 George Green Dr. E
        Montgomery, AL 36109

Case No.: 14-31731

Chapter 11 Petition Date: July 3, 2014

Court: United States Bankruptcy Court
       Middle District of Alabama (Montgomery)

Debtor's Counsel: Michael A. Fritz, Sr., Esq.
                  FRITZ & HILL, LLC
                  1784 Taliaferro Trail, Suite A
                  Montgomery, AL 36117
                  Tel: 334-215-4422
                  Fax: 334-215-4424
                  Email: bankruptcy@fritzandhill.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Dan Reeder, owner.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/almb14-31731.pdf


REFCO PUBLIC: Court Sets Sept. 2 as General Claims Bar Date
-----------------------------------------------------------
In the Chapter 11 case of Refco Public Commodity Pool LP f/k/a S&P
Managed Futures Index Fund LP, the Bankruptcy Court for the
District of Delaware established:

     -- Sept. 2, 2014 at 5:00 p.m. EDT as the deadline for all
persons and entities, other than governmental units, holding or
asserting claims against the Fund to file proofs of claim;

     -- Sept. 2, 2014 at 5:00 p.m. EDT as the deadline for all
persons and entities holding or asserting equity security
interests in the Fund to file a proof of interest;

     -- Sept. 2, 2014 at 5:00 p.m. EDT as the deadline for all
persons and entities to cast a vote on the Fund's bankruptcy-exit
plan;

     -- Nov. 9, 2014 at 5:00 p.m. EDT as the deadline for all
governmental units holding or asserting claims against the Fund to
file proofs of claim.

Proofs of claim, proofs of interest, and ballots may be mailed to
American Legal Claims LLC, the Debtor's claims and noticing agent.
Proof of claim forms, proof of interest forms and ballots are
available at http://www.americanlegalclaims.com/refco

As reported by the Troubled Company Reporter on June 27, 2014,
Bankruptcy Judge Brendan Linehan Shannon approved the disclosure
statement explaining Refco Public Commodity Pool, L.P.'s Plan of
Liquidation, after determining that the outline contained adequate
information within the meaning of Section 1125 of the Bankrptcy
Code.

Under the Plan, holders of allowed secured and unsecured claims
are not impaired and will receive full payment with interest on or
as soon as practicable after the effective date of the Plan.
Holders of limited partnership interests will each receive a pro
rata share of remaining cash after payment of claims and will vote
on the Plan.  Holders of subordinated interests are not receiving
anything and are deemed to reject the Plan.  There are
approximately 1,700 limited partners.

As of the date of filing of the bankruptcy case, the Fund has
$11.97 million in cash.  The Fund expects to receive substantial
additional distributions from the SPhinX Group through the end of
its liquidation.

The Plan provides that MAA, LLC, a Delaware limited liability
company, the liquidating trustee appointed in the Chancery Court
Proceeding, will serve as plan administrator.

A hearing to consider confirmation of the Plan will be held on
Sept. 9, 2014, at 10:00 a.m. (Prevailing Eastern Time).
Objections, if any, to confirmation of the Plan will be in writing
and must be filed with the Court on or before Sept. 2.

                 About Refco Public Commodity

Refco Public Commodity Pool, L.P., also known as S&P Managed
Futures Index Fund, L.P., is a fund that was formed in May 2003 to
make investments that substantially track the performance of the
Standard & Poor's Managed Futures Index.  It did this by investing
substantially all of its assets in SPhinX Managed Futures Fund,
SPC, a Cayman Islands domiciled segregated portfolio company.
RefcoFund Holdings, LLC was the general partner of the Fund.

Refco Public filed a Chapter 11 bankruptcy petition (Bankr. D.
Del. Case No. 14-11216) in Wilmington, Delaware, on May 13, 2014.
Daniel F. Dooley signed the petition as managing member of MAA,
LLC.  The Debtor estimated assets of $17 million and debt of $0.

The case is assigned to Judge Brendan Linehan Shannon.  Alston &
Bird LLP in Atlanta, Georgia, serves as the Debtor's counsel.
Richards, Layton & Finger, in Delaware, acts as local counsel.
Morris Anderson & Associates, Ltd., is the Debtor's financial
advisor, and Maples & Calder serves as the Debtor's Cayman Islands
counsel.


RITE AID: Files Form 10-Q, Reports $41.4-Mil. Net Income in Q1
--------------------------------------------------------------
Rite Aid Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $41.44 million on $6.46 billion of revenues for the 13 weeks
ended May 31, 2014, as compared with net income of $89.66 million
on $6.29 billion of revenues for the 13 weeks period ended June 1,
2013.

The Company said the decline in the thirteen week operating
results was driven primarily by a decrease in Adjusted EBITDA and
higher income tax expense, partially offset by lower interest
expense, a lower LIFO charge, and lower lease termination and
impairment charges.

According to the Company, the increase in revenues for the
thirteen week period ended May 31, 2014, was primarily a result of
an increase in pharmacy same store sales, driven by the increase
in the same store prescription count and pharmacy inflation,
partially offset by lower reimbursement rates.

The Company's balance sheet at May 31, 2014, showed $6.94 billion
in total assets, $8.99 billion in total liabilities and a $2.04
billion total stockholders' deficit.

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

                         http://is.gd/yJlTUd

                         About Rite Aid Corp.

Drugstore chain Rite Aid Corporation (NYSE: RAD) --
http://www.riteaid.com/-- based in Camp Hill, Pennsylvania, is
one of the nation's leading drugstore chains with 4,626 stores in
31 states and the District of Columbia.

Rite Aid disclosed net income of $118.10 million on $25.39 billion
of revenue for the year ended March 2, 2013, as compared with a
net loss of $368.57 million on $26.12 billion of revenue for the
year ended March 2, 2012.

                           *     *     *

As reported by the TCR on March 1, 2013, Moody's Investors Service
upgraded Rite Aid Corporation's Corporate Family Rating to B3 from
Caa1 and Probability of Default Rating to B3-PD from Caa1-PD.  At
the same time, the Speculative Grade Liquidity rating was revised
to SGL-2 from SGL-3.  This rating action concludes the review for
upgrade initiated on Feb. 4, 2013.

As reported by the TCR on Oct. 2, 2013, Standard & Poor's Ratings
Services said it raised its ratings on Rite Aid Corp., including
the corporate credit rating, which S&P raised to 'B' from 'B-'.

In the April 21, 2014, edition of the TCR, Fitch Ratings has
upgraded its ratings on Rite Aid Corporation (Rite Aid), including
its Issuer Default Rating (IDR) to 'B' from 'B-'.  The upgrades
reflect the material improvement in the company's operating
performance, credit metrics and liquidity profile over the past 24
months.


RUE21 INC: Bank Debt Trades at 13.5% Off
----------------------------------------
Participations in a syndicated loan under which Rue21 Inc. is a
borrower traded in the secondary market at 86.5 cents-on-the-
dollar during the week ended Friday, July 4, 2014, according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 0.25
percentage points from the previous week, The Journal relates.
Rue21 Inc. pays 475 basis points above LIBOR to borrow under the
facility.  The bank loan matures on Sept. 30, 2020 and carries
Moody's B3 rating and Standard & Poor's B- rating.  The loan is
one of the biggest gainers and losers among 205 widely quoted
syndicated loans with five or more bids in secondary trading for
the week ended Friday.


SEANERGY MARITIME: Posts $83.5 Million Net Income in 1st Quarter
----------------------------------------------------------------
Seanergy Maritime Holdings Corp. reported net income of $83.50
million on $2.01 million of net vessel revenue for the three
months ended March 31, 2014, as compared with net income of $1.06
million on $5.64 million of net vessel revenue for the same period
in 2013.

As of March 31, 2014, the Company had $3.27 million in total
assets, $645,000 in total liabilities and $2.62 million in total
shareholders' equity.

Stamatis Tsantanis, the Company's Chairman & chief executive
officer, stated: "In the first quarter of 2014, we successfully
completed a significant financial overhaul of our Company, which
resulted in the elimination of all our outstanding indebtedness.
Since the beginning of this rigorous restructuring process in
2012, we extinguished approximately $346 million of secured
liabilities and all of the Company's guarantees were fully
released.  This effort was achieved without entering into any
court protection, without any dilution of the Company's
shareholders and without any interruption of the listing status of
the Company's common shares on the Nasdaq Stock Market."

"Looking forward, we believe that most market participants are
optimistic about a dry bulk shipping recovery materializing from
the fourth quarter of 2014 onwards.  We are optimistic that our
Company's positioning, subject to the finalization of the vessels'
contribution, will allow us to capitalize on a rising spot rate
environment and will facilitate further growth."

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

                         http://is.gd/dhTV7F

                           About Seanergy

Athens, Greece-based Seanergy Maritime Holdings Corp. is an
international company providing worldwide seaborne transportation
of dry bulk commodities.  The Company owns and operates a fleet
of seven dry bulk vessels that consists of three Handysize, two
Supramax and two Panamax vessels.  Its fleet carries a variety of
dry bulk commodities, including coal, iron ore, and grains, as
well as bauxite, phosphate, fertilizer and steel products.

Seanergy Maritime reported net income of $10.90 million on $23.07
million of net vessel revenue for the year ended Dec. 31, 2013, as
compared with a net loss of $193.76 million on $55.61 million of
net vessel revenue for the year ended Dec. 31, 2012.

Ernst & Young (Hellas) Certified Auditors Accountants S.A., in
Athens, Greece, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31,
2013.  The independent auditors noted that the Company, as of
December 31, 2013 continued to be in breach of certain terms and
covenants of the loan facility with its remaining lender, and had
a working capital deficit and an accumulated deficit.  Following
the disposal of its entire fleet subsequent to December 31, 2013
in the context of its restructuring plan, the Company is unable to
generate sufficient cash flow to meet its obligations and sustain
its continuing operations.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


SEARS METHODIST: Bankruptcy Won't Affect El Paso Veterans Home
--------------------------------------------------------------
The Chapter 11 bankruptcy filing by Sears Methodist Retirement
System Inc., has no effect on the level of care at state-owned
Ambrosio Guillen Veterans Home in Northeast El Paso, Texas,
according to a report by El Paso Inc.

Sears Methodist's unit, Senior Dimensions Inc. operates Ambrosio
Guillen.  Sears Methodist operates 10 more locations in seven
other Texas cities.

David Crowder, writing for El Paso Inc., reported that
spokespersons for the Texas General Land Office and the companies
involved say the care for the military veterans in the 160-bed
home at 9650 Kenworthy is not being affected by the financial
problems of the operators or their suppliers.

"The operator of the home has filed for financial reorganization,
but it has no effect on the level of care at the home or the
standards of care," said Jim Suydam, spokesman for Land
Commissioner Jerry Patterson.  "The state of Texas owns that home
and stands behind the care of the veterans at that home."

According to the report, Melody Chatelle, spokeswoman for Sears
Methodist, said "It's business as usual for the community at the
home. Services will continue."

                       About Sears Methodist

As a leading Texas senior living icon established on Christian
principles, Sears Methodist Retirement System Inc. provides
secure, rewarding, and luxurious residency to seniors.  The system
includes: (i) eight senior living communities located in Abilene,
Amarillo, Lubbock, Odessa and Tyler, Texas; (ii) three veterans
homes located in El Paso, McAllen and Big Spring, Texas, managed
by Senior Dimensions, Inc., pursuant to contracts between SDI and
the Veterans Land Board of Texas; and (iii) Texas Senior
Management, Inc. ("TSM"), Senior Living Assurance, Inc. ("SLA")
and Southwest Assurance Company, Ltd. ("SWAC"), which provide, as
applicable, management and insurance services to the System.
Sears Methodist Senior Housing, LLC, is the general partner of,
and controls .01% of the interests in, Canyons Senior Living, L.P.
("CSL").

Sears Methodist and its affiliates sought protection under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 14-
32821) on June 10, 2014.  The cases are assigned to Judge Stacey
G. Jernigan.

The Debtors' counsel is Vincent P. Slusher, Esq., and Andrew
Zollinger, Esq., at DLA Piper LLP (US), in Dallas, Texas; and
Thomas R. Califano, Esq., Gabriella L. Zborovsky, Esq., and Jacob
S. Frumkin, Esq., at DLA Piper LLP (US), in New York.  The
Debtors' financial advisor is Alvarez & Marsal Healthcare Industry
Group, LLC, while the Debtors' investment banker is Cain Brothers
& Company, LLC.  The Debtors' notice, claims and solicitation
agent is GCG Inc.

The Debtors have sought and obtained an order authorizing joint
administration of their Chapter 11 cases.


SOURCE HOME: Meeting to Form Creditors Panel Set for July 10
------------------------------------------------------------
Roberta A. DeAngelis, United States Trustee for Region 3, will
hold an organizational meeting on July 10, 2014, at 10:00 a.m. in
the bankruptcy case of Brevity Ventures Inc.  The meeting will be
held at:

         J. Caleb Boggs Federal Building
         844 King St., Room 5209
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors
pursuant to Section 341 of the Bankruptcy Code.  A representative
of the Debtor, however, may attend the Organizational Meeting, and
provide background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States
Trustee appoint a committee of unsecured creditors as soon as
practicable.  The Committee ordinarily consists of the persons,
willing to serve, that hold the seven largest unsecured claims
against the debtor of the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee
may consult with the debtor, investigate the debtor and its
business operations and participate in the formulation of a plan
of reorganization.  The Committee may also perform other services
as are in the interests of the unsecured creditors whom it
represents.


SUN BANCORP: Names New President, Adopts Restructuring Plan
-----------------------------------------------------------
Sun Bancorp, Inc., and its subsidiary Sun National Bank, issued a
press release announcing a comprehensive restructuring plan.
The Company disclosed multiple strategic initiatives designed to
reduce operating complexity, re-align business lines and focus on
returning to and sustaining profitability.

In April 2014, the Company announced the anticipated hiring of
Thomas M. O'Brien as president and CEO of the Company and the
Bank, subject to the customary non-objection of the Federal
Reserve Bank and the Office of the Comptroller of the Currency.
Effective July 2, 2014, following the receipt of the official non-
objection from the FRB and the OCC to Mr. O'Brien's appointment as
president and CEO of the Company and the Bank, the boards of the
Bank and the Company elected Thomas M. O'Brien as a director and
appointed him as president and CEO of the Company and the Bank.
Mr. O'Brien will complete the term of former director Steven A.
Kass, who resigned from the boards of the Company and the Bank,
effective June 30, 2014, with the acquisition of his accounting
firm, Rothstein-Kass, by KPMG LLP.

Since April 1, 2014, Mr. O'Brien has been engaged as a consultant
to the board of directors of the Company.  At the time of his
appointment, he stated that the Company would focus on
comprehensively continuing to address outstanding regulatory
matters and the building of businesses that represent the Bank's
core competencies, creating a platform for returning to
sustainable profits and growth, strong asset quality, and a strong
regulatory compliance culture.  The Company said its Board of
Directors has carefully reviewed Mr. O'Brien's comprehensive
restructuring plan, including its costs, opportunities and
benchmarks.  Following its consideration, the Board was unanimous
in their support of the restructuring.

Prospectively, the Company will become a highly-focused commercial
banking platform with high-value commercial products and services.

"We have evaluated and decided to exit business lines in which the
Company is not profitable," said Mr. O'Brien.  "The Company will
focus on those businesses where it can offer a strong menu of
commercial banking products and services.  The objective is for
our branch offices to serve as competitive, best-in-class deposit-
gathering and relationship-building centers in our communities,
with the appropriate technology to support evolving customer
trends.  We must right-size our platform and remediate our
remaining regulatory issues, so that we can efficiently generate
positive earnings, support healthy growth and execute on revenue
enhancement strategies."

Branch Rationalization & Consolidation

The Company has identified several branch office markets which do
not enhance the Bank's brand recognition and are in markets which
are remote from its core.  Therefore, the Bank has negotiated and
executed a purchase and assumption agreement with Sturdy Savings
Bank in Cape May Courthouse, New Jersey, for the sale of its six
offices in Cape May County as well as one office in Atlantic
County.  The Bank's Somers Point, Tuckahoe, Cape May Court House,
Cape May, Rio Grande, Wildwood Crest and North Wildwood branches,
with over $180 million in combined total deposits and over $60
million in combined local branch loans, will be sold for a premium
on deposits of 8.765% to be calculated at closing.  This
represents an efficient use of the Bank's current excess liquidity
and will help rationalize the expense base.  The sale will also
allow the Company to begin to re-focus its efforts in its core
markets and at the same time allow banking services to continue to
be provided in these markets.  The transaction is expected to be
completed during the first quarter of 2015, subject to regulatory
approvals and customary closing conditions.  Following the closing
of the transactions, the Bank will save approximately $3.1 million
annually in operating expense and expects to record a net gain on
sale of approximately $10-12 million.
The Company will also consolidate four overlapping branches:
Branchburg, Holland, Hillsborough and Freehold Downtown (Main
Street).  The Branchburg branch was closed on June 20, 2014.  The
remaining three consolidations are expected to occur prior to
year-end.  Affected customers will continue to be served through
nearby Bank locations, as well as online and mobile channels.

"A strategic evaluation of where to best invest our capital and
resources found that the Central and Northern regions of New
Jersey provide a better opportunity for growth," said Mr. O'Brien.
"In addition to the announced branch sales and consolidations, the
Company will also explore further initiatives, which may include
additional branch sales or consolidations, to further reduce
operating costs by exiting certain portions of its retail network
in slower growth portions of Southern New Jersey, with the
objective of right-sizing its branch network by the end of the
first quarter of 2015.

Strategic Business Exits

Due to profitability challenges, the Company has made the decision
to exit several lines of business.

The Bank will cease the operations of Sun Home Loans, the Bank's
retail mortgage banking platform.  Sun Home Loans will stop
accepting new applications effective immediately.  All current
commitments for approved loans will be honored and funded
according to their terms.  "The residential mortgage banking model
has evolved into a highly commoditized business.  The residential
home loan product is further becoming significantly less
profitable and much more highly regulated to the point where it
has become less attractive for the Bank," said Mr. O'Brien.  "As a
result, the Bank has decided to exit this business.  The Bank
expects this decision will result in annual cost savings of
approximately $9.5 million.  The Bank will also de-emphasize its
direct home equity lending efforts.

The Bank will exit the Healthcare and the Asset-Based Lending
markets which it entered in 2009 and close its syndicated lending
desk.  The Company expects these decisions will result in annual
cost savings of approximately $1.4 million.

Classified Asset Reduction - Loan Sales

At the end of the second quarter of 2014, the Company completed a
cash sale of $71.4 million of individual commercial loans held by
the Bank to multiple investors which resulted in a loss of
approximately $11.8 million after expenses and commissions.
Additionally, at June 30, 2014, the Company has marked to market
value and moved to held for sale approximately $24.7 million of
non-accrual and other low quality consumer and related credit for
an estimated loss of $4 million.   These actions reduced non-
accrual loans held-for-investment to $11.1 million or 0.6% of
total loans at June 30, 2014, down from $37.3 million at March 31,
2014.  Furthermore, the classified assets held-for-investment,
which was $105.6 million at March 31, 2014, is expected to be
reduced at June 30, 2014, to $30.4 million, a decrease of 71% from
the previous quarter end.  Mr. O'Brien commented on these
initiatives and stated that "in 2013, the Company spent $7.7
million in operating expense, excluding loan loss provisions,
managing a large classified loan portfolio."  In conjunction with
this disposition, the Company?s resources dedicated to managing
classified assets will be downsized significantly to bring its
portfolio size and cost structure in line with peers.

Expense Alignment

The Company said the collective initiatives will also have an
effect on the current staffing needs of the Company's supporting
corporate, operational and administrative functions.  In
aggregate, the Company expects to reduce its overall workforce by
38% or 242 full-time employees after completion of the
restructuring plan, which is expected to generate an annual cost
savings of approximately $16.8 million.  The Company expects to
offer severance and career transition assistance for affected
employees, subject to regulatory approval.  "These unfortunate
conditions require very unpleasant reductions to our staff but our
decisions must be judged in view of the primary objective of
returning to profitability," said Mr. O'Brien.  "Current staffing
levels at the Company are not sustainable.  As a company, we must
effectively address outstanding regulatory matters and build
operating profitability."

In addition to these steps, the Company will be taking other
prudent steps to reduce its cost structure.  The Company has now
ended its practice of providing certain executives with company-
owned automobiles, will reduce vacation allotments for officers,
redesign benefit plans for greater efficiency and increase the
value proposition for employees along with other operating changes
in an effort to reduce needless complexity and reduce costs.

Effective July 1, 2014, the Board adopted Company stock ownership
requirements for executive officers of the Company which are
designed to further align management's interests with
stockholders.  Additionally, the Board has adopted a policy
requiring all executives and directors to retain stock awarded
under the Company's equity plans for a period of two years
following vesting.

Reverse Stock Split

The Board has declared a one-for-five reverse stock split with an
effective date of Aug. 11, 2014, for shareholders of record as of
Aug. 8, 2014.  The reverse stock split will reduce the number of
outstanding shares from approximately 86.8 million as of March 31,
2014 to approximately 17.3 million shares.  The reverse stock
split gives recognition to the substantial equity raises
undertaken in 2010 and 2011 and is intended to promote a more
appropriate trading price for Company shares.

Corporate Headquarters

The Company is changing its address of record for its headquarters
to 350 Fellowship Road, Suite 101, Mount Laurel, NJ 08054.  This
change reflects the executive office relocation that occurred in
2009, and establishes a centralized headquarters that can deliver
a superior level of services to clients and investors throughout
New Jersey, New York and the Philadelphia area.

"As we have continued to work through our regulatory and asset
quality challenges over the last several years, the Bank's
efficiency ratio and the Company's overall financial performance
have failed to improve," said Mr. O'Brien.  "The future of this
Company begins today and we are excited to execute this
comprehensive restructuring plan.  The work ahead of us is
substantial and as we revamp our business model, rationalize the
branch system and exit these discontinued lines of business, we
will soon begin to announce new business initiatives and
strategies designed to provide the long term value creation that
is at the heart of our plan.  Our shareholders are also our
employees and customers, and all of the Company's stakeholders
deserve a best-in-class organization that is focused on both
profitability and outstanding customer service."

It is anticipated that the Company will record a one-time charge
of approximately $20 million in the second quarter of 2014 as a
result of the transactions.  Even with this charge, the Bank is
expected to continue to be in full compliance with its internal
capital ratio limits, which are tier 1 leverage ratio in excess of
9%, tier 1 risk based capital ratio in excess of 10.25% and total
risk based capital ratio in excess of 12.25%, as well as all
minimum regulatory capital requirements.

The strategic restructuring once completed is expected to reduce
non-interest expense to approximately $20 million per quarter, and
it is expected that non-interest income will be approximately $3
to $4 million per quarter and net interest income will be
approximately $18 to $20 million per quarter.

                         About Sun Bancorp

Sun Bancorp, Inc. (NASDAQ: SNBC) is a bank holding company
headquartered in Vineland, New Jersey, with its executive offices
located in Mt. Laurel, New Jersey.  Its primary subsidiary is Sun
National Bank, a full service commercial bank serving customers
through more than 60 locations in New Jersey.

On April 15, 2010, Sun National Bank entered into a written
agreement with the OCC which contained requirements to develop and
implement a profitability and capital plan which provides for the
maintenance of adequate capital to support the Bank's risk profile
in the current economic environment.

Sun Bancorp reported a net loss available to common shareholders
of $9.94 million in 2013, a net loss available to common
shareholders of $50.49 million in 2012, and a net loss available
to common shareholders of $67.50 million in 2011.  The Company's
balance sheet at March 31, 2014, showed $3.03 billion in total
assets, $2.78 billion in total liabilities and $248.89 million in
total shareholders' equity.


SUPER BUY FURNITURE: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------------
Debtor: Super Buy Furniture, Inc.
           aka Casa Pitusa Muebles y Enseres
        P.O. Box 674
        Cidra, PR 00739

Case No.: 14-05523

Type of Business: Home Furniture

Chapter 11 Petition Date: July 3, 2014

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

Debtor's Counsel: Luis C. Marini Biaggi, Esq.
                  O'NEILL & BORGES, LLC
                  250 Munoz Rivera Ave, Ste 800
                  San Juan, PR 00918-1813
                  Tel: 787-764-8181
                  Fax: 787-753-8944
                  Email: luis.marini@oneillborges.com

                    - and -

                  Nayuan Zouairabani Trinidad, Esq.
                  O'NEILL & BORGES, LLC
                  American International Plaza
                  250 Munoz Rivera Ave Ste 800
                  San Juan, PR 00918
                  Tel: 787-282-5735
                  Fax: 787-753-8944
                  Email: nayuan.zouairabani@oneillborges.com

Debtor's
Financial
Consultant:       CPA LUIS R. CARRASQUILLO & CO. P.S.C.

Total Assets: $18.2 million

Total Liabilities: $26.7 million

The petition was signed by Carlos N. Berrios Casillas, president.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Electrolux Puerto Rico             Inventories        $2,774,835
P.O. Box 363287
San Juan, PR 00936-3287

PF Stores Inc.                     Note Payable       $1,583,333
PO Box 190839
San Juan PR 00919-0839

Puerto Rico Importing & Steved     Freight Services     $943,560
PO Box 9021548
San Juan PR 00902-1548

Global Furniture                   Inventories          $568,967
47 6th Street East
Brnswick NJ 08816-0000

Departamento De Hacienda De        Sales and Use Tax    $563,643
PR Bankruptcy Section
PO Box 9024140
San Juan PR 00902-4140

GE Appliances Caribbean, Inc.      Inventories          $530,049
BO Box 9 Carolina
PR 00986-0009

Arco Publicidad                    Advertising          $444,207
1095 Ave Wilson                    Services
San Juan
PR 00907-0000

Holland House                      Inventories          $400,892
9420 E 33rd Street
Indianapolis IN
46235-0000

Step One Furniture                 Inventories          $391,894
9420 E 33rd Street
Indianapolis IN 46235-0000

Whirlpool Corporation              Inventories          $335,961
6205 Blue Lagoon Drive
Miami FL 33126-0000

Flair Enterprises Inc.             Inventories          $310,657
411 72Ave Se. Canada

PDCM Associates SE                 Rent Arrears         $306,485
PO Box 190858
San Juan PR 00919-0858

Elements International Group       Inventories          $263,778
PO Box 890204
Charlotte NC 28289-0204

Industria de Moveis Rotta Ltda     Inventories          $230,644
Rua Pascoal Rotta PO Box 169
Cacador SA BZ

Colchoneria Y Muebleria            Inventories          $190,658

Bassett Bedding, Inc.              Inventories          $179,466

Real Talent Worldwide Corp.        Inventories          $179,148

Jackeline Montero Berroa           Labor Claims         $122,040

Solstice Sleep Products            Inventories          $102,544

Miguel Garcia Alvarez              Labor Claims         $100,000


SWIFT ENERGY: Moody's Raises Corporate Family Rating to 'B1'
------------------------------------------------------------
Moody's Investors Service upgraded Swift Energy Company's
Corporate Family Rating (CFR) to B1 from B2 and its senior
unsecured notes rating to B2 from B3. Moody's also raised Swift's
Speculative Grade Liquidity rating to SGL-2 from SGL-3 and changed
the outlook to stable from positive. The upgrade is the result of
an ongoing assessment of Swift's growth profile and leverage
metrics.

"The rating upgrade reflects an improving trend in leverage
metrics driven by Swift's focused development of its Eagle Ford
Shale acreage and supplemented by asset sale proceeds directed to
debt reduction," commented Andrew Brooks, Moody's Vice President.
"Further supporting the upgrade are financial policies articulated
by Swift which should lead to a strengthening of its balance sheet
and enhanced liquidity, core elements of a strategy to emphasize
financial discipline over growth."

Upgrades:

Issuer: Swift Energy Company

Probability of Default Rating, Upgraded to B1-PD from B2-PD

Speculative Grade Liquidity Rating, Raised to SGL-2 from SGL-3

Corporate Family Rating, Upgraded to B1 from B2

Senior Unsecured Regular Bond/Debenture, Upgraded to B2 (LGD4)
from B3 (LGD4)

Outlook Actions:

Issuer: Swift Energy Company

Outlook, Changed To Stable From Positive

Ratings Rationale

Swift Energy's B1 CFR reflects its scale in terms of production
and proved reserves, a balanced production profile, modest finding
and development (F&D) costs and leverage metrics, which while
higher than in the recent past are poised to improve. Production
has flattened since 2012 despite heavy capital spending, but at
approximately 32,000 barrels of oil equivalent (Boe) per day,
Swift's reserves and production characteristics better align
themselves to those of its B1 rated peer group. Debt leverage,
which increased to almost $40,000 per Boe of average daily
production at year-end 2013, should improve to under $35,000 per
Boe in 2014, a metric which also compares favorably with the B1
peer group median. Improved leverage metrics reflect Moody's
expectation of modest production gains and debt reduction funded
by the proceeds of a pending production joint venture in the Eagle
Ford, supplemented with certain additional potential asset sales.

Swift Energy operates in three Texas-Louisiana producing regions;
its principal focus is the Olmos formation and the liquids-rich
Eagle Ford Shale in South Texas, which represented 80% and 77%,
respectively, of 2013's total proved reserves and production. The
company is guiding full year 2014 capital spending in a range of
$350 to $400 million, more closely aligning its spending with
anticipated cash flow than in the recent past. In May, Swift
announced an agreement with PT Saka Energi Indonesia ("Saka") to
jointly develop an approximate 8,300 acre position in the Eagle
Ford, which is expected to close early in 2014's third quarter.
Saka will acquire a 36% participating interest in the property in
exchange for $175 million cash; $125 million up front and $50
million in drilling carry. Additionally, Swift is negotiating the
potential sale of its Central Louisiana assets. Proceeds from the
Saka joint venture and any Central Louisiana asset sales are
expected to be largely used for debt reduction and improved
liquidity.

The SGL-2 Speculative Grade Liquidity rating reflects good
liquidity through 2015, recognizing in part the expected closer
alignment of capital spending with cash flow. At March 31, 2014,
$298 million was outstanding under Swift's $450 million secured
borrowing base revolving credit facility. Presuming the Saka joint
venture closes as expected, the borrowing base will be reduced to
a pre-determined level of $417.6 million, with the receipt of
approximately $150 million in proceeds from Saka paying down a
portion of current revolver outstandings. Any additional asset
sales would likely result in a further reduction in the borrowing
base, but Moody's also expects that incremental asset sale
proceeds would be used to reduce debt. The revolver is scheduled
to mature in November 2017. Moody's expects the company will
remain well in compliance with its financial covenants through
2015.

The stable outlook is based on the expectation that Swift
continues to generate modest overall production growth while
managing towards improved leverage metrics and liquidity. Should
Swift successfully execute on its Eagle Ford growth initiatives,
increasing production to a level approaching 50,000 Boe per day,
while lowering debt to average daily production to $25,000 per
Boe, Moody's could upgrade its CFR to Ba3. Should lackluster
drilling results reverse production gains and reserve adds, with
production falling below 30,000 Boe per day, resulting in debt on
production exceeding $40,000 per Boe, the rating could be
downgraded.

The B2 rating on Swift's senior unsecured notes reflects the
subordination of the senior unsecured notes to Swift's $450
million secured revolving credit facility's priority claim to the
company's assets. The size of the claims relative to Swift's
outstanding senior unsecured notes results in the notes being
rated one notch below the B1 CFR under Moody's Loss Given Default
Methodology.

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

Swift Energy Company is an independent E&P company headquartered
in Houston, Texas.


TOLEDO-LUCAS COUNTY: Fitch Affirms 'BB' Rating on 2003 Rev. Bonds
-----------------------------------------------------------------
Fitch Ratings has affirmed the 'BB' rating on the $66.23 million
Toledo-Lucas County Port Authority, OH (Crocker Park Public
Improvement Project) special assessment revenue bonds, series
2003.

The Rating Outlook is Stable.

Security

The bonds are special limited obligations payable by the issuer
from special assessments levied on the assessment property by the
city of Westlake. A debt service reserve fund equal to maximum
annual debt service (excluding the final maturity) is fully funded
through a guaranteed investment contract.

Key Rating Drivers

Single-Payor Risk: Pledged special assessments are payable from a
single payor on property comprising a small, highly concentrated
geographic area.

Project Cash Flows Still Weak: Despite high occupancy rates, the
project does not generate cash flow sufficient to cover mortgage
payments. Project cash flows have improved from very weak 0.57x
coverage of the substantial mortgage payment in 2011; however,
coverage in fiscal 2013 of 0.8x was down somewhat from 0.9x in
fiscal 2012.

Project Obligations Current: The project generates enough revenue
to cover property taxes and special assessments, although coverage
of mortgage payments is insufficient.

LIEN SUPERIOR TO MORTGAGE OBLIGATION: Special assessment payments,
equal to at least annual debt service through final bond maturity
regardless of the assessed value of property, are on parity with
property taxes and are senior to the sizable mortgage payments.

High Leverage: Fitch-estimated loan-to-value has moderated from
very high levels to a still elevated 1.18:1. This combined with
the cash-flow shortfall underscores Fitch's concerns about the
developer's continued willingness and ability to continue to make
special assessment payments, although Fitch notes that coverage
trends are generally positive.

Rating Sensitivities

Failure To Pay Property Obligations: Failure to pay special
assessments or the subordinate mortgage payments on time would
cause a downgrade.

Continued Coverage Erosion: Continued lack of sum sufficient cash-
flow coverage of mortgage payments could put further downward
pressure on the rating.

Mortgage With Special Servicer: Placement of the mortgage with a
special servicer would indicate severe stress, but could
ultimately be a stabilizing factor at a lower rating level.

Lack Of Sufficient Or Timely Information: The inability to receive
information pertinent to the rating of these obligations by Fitch
on a timely basis could result in a change or withdrawal of the
rating.

Credit Profile

Single Payor Risk
The bonds are secured by special assessments payable by a single
payor, Crocker Park, LLC (the developer/owner), an affiliate of
Robert L. Stark Enterprises. The special assessment property is
within an established retail area, Crocker Park, in affluent
Westlake, Ohio (rated 'AAA' by Fitch). The area has complementary
retailers, office and residential units and retains a competitive
position in the region. The assessment property is composed of the
retail portion of Crocker Park with over 630,000 square feet of
retail space anchored by several major retailers, in addition to
office space and residential properties.

Mature Project With High Occupancy Rates
All phases of the development anticipated at the time of the bond
financing have been completed. Occupancy rates recently have been
quite strong, ranging from 92% to 100%. Development continues in
areas adjacent to the assessment property. Construction of a new
headquarters for American Greetings is expected to result in the
addition of 1,500 jobs and should further strengthen consumer
demand at the mall.

The development generates cash flow insufficient to support large
mortgage payments, after payment of special assessments, despite
the high occupancy rates. Mortgage coverage improved to 0.89x in
2012 and 0.8x in 2013 after sinking to 0.57x in 2011 from 0.75x in
2010; however, the developer is current on mortgage payments.

Lien Superior To Mortgage Obligation
The special assessments are on parity with real estate taxes and
are senior to an outstanding mortgage on the property. Special
assessments were authorized in aggregate maximum annual
installments of $6 million for the term of the bonds and are
levied annually in an amount sufficient to pay annual debt
service. Fitch remains concerned about the current or any future
owner's incentive to continue to make special assessment payments,
given the high overall loan-to-value ratio of 1.18:1, using
Fitch's conservative stressed value of the entire development.

Structural Protections
Fitch derives some comfort from the superiority of the lien to
those of larger obligations; however, the weak coverage of the
mortgage obligation introduces risk of payment disruption should
the loan go into foreclosure. Fitch believes the presence of a
master servicer (and the addition of a special servicer, if
necessary), as part of the mortgage trust securitization may prove
to be a stabilizing factor, should the trust have sufficient
resources and choose to provide liquidity to bridge any payment
interruption during a work-out. The 'BB' rating does not assume
any such external support from the trust.


TMT GENERAL: Queens Lot to Be Sold at Aug. 1 Auction
----------------------------------------------------
Pursuant to a Judgment of Foreclosure and Sale entered on Feb. 27,
2014, Nicole D. Katsorhis, Esq., as Referee, will sell at public
auction at the Queens County Supreme Courthouse, 88-11 Sutphin
Blvd., in Courtroom #25, Jamaica, NY on Aug. 1, 2014 at 10:00 a.m.
the premises situated in the Borough of Queens, County of Queens,
City and State of New York, known and designated as Block 10255
Lot 14 on the Queens County Tax Assessment Map.  The premises is
known as 172 Street, Queens, NY.  The approximate amount of the
lien is $7,034.98 plus interest and costs.  The premises will be
sold subject to provisions of filed judgment and terms of sale.

The case is, NYCTL 1998-2 TRUST AND THE BANK OF NEW YORK MELLON,
AS COLLATERAL AGENT AND CUSTODIAN, Plaintiffs against TMT GENERAL
CONTRACTING NY CORP., et al Defendant(s), Supreme Court County of
Queens.

Attorneys for the Plaintiffs may be reached at:

     Nicole D. Katsorhis, Esq.
     PHILLIPS LYTLE LLP
     1400 First Federal Plaza
     Rochester, NY 14614


TRANS ENERGY: Expects to Obtain Title to Robinson Lease
-------------------------------------------------------
Trans Energy, Inc., on May 11, 2011, filed an action in the U.S.
District Court for the Northern District of West Virginia against
EQT Corporation.  The defendant filed with the Court an answer and
counterclaim wherein it claimed to hold title to the natural gas
within and underlying the Blackshere Lease.  On Nov. 26, 2012, the
Court granted the Company's motion for summary judgment and denied
the defendant's motions for declaratory judgment and summary
judgment.  On Feb. 25, 2014, the United States Court of Appeals
for the Fourth Circuit in Richmond Virginia affirmed the summary
judgment.  The time period for EQT Corporation to appeal this
decision has passed, so this judgment has become final and the
Company has secured quiet title to the Blackshere Lease.

On June 12, 2013, EQT Production Company filed a quiet title
action against the Company in the Circuit Court of Wetzel County,
West Virginia.  The action relates to a 1,314 acre lease in Wetzel
County, West Virginia, known as the Robinson lease.  On Feb. 28,
2014, the presiding Judge issued an order granting a motion to
stay this case pending appeal of the Blackshere Litigation.

On July 18, 2013, the Company filed a quiet title action in the
U.S. District Court for the Northern District of West Virginia
against EQT Production Company regarding the same Robinson lease
described above.  Since the Robinson and the Blackshere leases
were acquired in the same assignment and have the same leasehold
chain, the Company believes that it will be granted a judgement
granting it quiet title to the Robinson lease.

                         About Trans Energy

St. Mary's, West Virginia-based Trans Energy, Inc. (OTC BB: TENG)
-- http://www.transenergyinc.com/-- is an independent energy
company engaged in the acquisition, exploration, development,
exploitation and production of oil and natural gas.  Its
operations are presently focused in the State of West Virginia.

Trans Energy reported a net loss of $17.7 million in 2013
following a net loss of $21.2 million in 2012.

The Company's balance sheet at March 31, 2014, showed $94.21
million in total assets, $103.56 million in total liabilities and
a $9.34 million total stockholders' deficit.


TRANSGENOMIC INC: Sells Rights to Surveyor Detection Technology
---------------------------------------------------------------
Transgenomic, Inc., had entered into an agreement to sell to
Integrated DNA Technologies, Inc. (IDT) the rights to
Transgenomic's SURVEYOR Nuclease technology and assets for a
minimum of $4.25 million.  SURVEYOR Mutation Detection Kits
provide researchers with a simple, robust and versatile method to
detect mutations and polymorphisms in DNA from a variety of
organisms.

Under the terms of the agreement, IDT will make an upfront payment
of $3.65 million and additional minimum payments of $0.6 million
or more to Transgenomic during the first year of the agreement.
Transgenomic will transfer rights to the SURVEYOR patents,
license, technology, know-how and trademarks to IDT, as well as
all inventory of the product.  As part of the agreement, IDT will
exclusively sublicense rights for all clinical and diagnostic
applications of the SURVEYOR technology back to Transgenomic.
Further terms of the agreement were not disclosed.

Paul Kinnon, president and chief executive officer of
Transgenomic, commented, "The sale of SURVEYOR Nuclease technology
to IDT for the non-core research market allows us to focus more of
our resources on commercialization efforts in our Patient Testing,
Biomarker Identification, and Genetic Assays and Platforms
business units.  By licensing back exclusive rights to clinical
and diagnostic uses of the technology, we have ensured we will
have continued access to SURVEYOR in high value clinical and
pharmaceutical services applications.  The monetization of this
asset will also contribute to our expedited development and
commercialization efforts for ICE COLD-PCRTM, Transgenomic's
groundbreaking technology that enables the detection and
monitoring of actionable mutations in cancer patients using non-
invasive liquid biopsies."

Dr. Joseph Walder, IDT's founder and chief executive officer,
noted, "IDT has a well-earned reputation as an innovator and
leader in the production of nucleic acid products for researchers
worldwide.  The SURVEYOR Nuclease Detection Kits are a natural
addition to our growing product line, and we are delighted to have
acquired rights to the technology from Transgenomic."

The SURVEYOR Nuclease technology was originally developed by Fox
Chase Cancer Center, which licensed exclusive rights to
Transgenomic.  The key component of SURVEYOR Mutation Detection
Kits is a proprietary nuclease enzyme that cleaves DNA at points
where any type of DNA sequence variation exists.  The resulting
DNA fragments can then be analyzed using a variety of analytic
platforms found in genetic testing laboratories globally.

Meanwhile, on July 1, 2014, the Collaboration Agreement between
Transgenomic and PDI, Inc., d/b/a Interpace Diagnostics, for the
promotion of Transgenomic's CardioPredict test expired
automatically pursuant to its terms upon the parties' completion
of phase one under the agreement.  Transgenomic management
believes that the test continues to have good commercial potential
and is evaluating commercialization options.

                          About Transgenomic

Transgenomic, Inc. -- http://www.transgenomic.com/-- is a global
biotechnology company advancing personalized medicine in
cardiology, oncology, and inherited diseases through its
proprietary molecular technologies and world-class clinical and
research services.  The Company is a global leader in cardiac
genetic testing with a family of innovative products, including
its C-GAAP test, designed to detect gene mutations which indicate
cardiac disorders, or which can lead to serious adverse events.
Transgenomic has three complementary business divisions:
Transgenomic Clinical Laboratories, which specializes in molecular
diagnostics for cardiology, oncology, neurology, and mitochondrial
disorders; Transgenomic Pharmacogenomic Services, a contract
research laboratory that specializes in supporting all phases of
pre-clinical and clinical trials for oncology drugs in
development; and Transgenomic Diagnostic Tools, which produces
equipment, reagents, and other consumables that empower clinical
and research applications in molecular testing and cytogenetics.
Transgenomic believes there is significant opportunity for
continued growth across all three businesses by leveraging their
synergistic capabilities, technologies, and expertise.  The
Company actively develops and acquires new technology and other
intellectual property that strengthens its leadership in
personalized medicine.

The Company reported a net loss available to common stockholders
of $16.71 million in 2013, a net loss available to common
stockholders of $8.98 million in 2012 and a net loss available to
common stockholders of $10.79 million in 2011.  The Company's
balance sheet at March 31, 2014, showed $30.71 million in total
assets, $16.42 million in total liabilities and $14.29 million in
total stockholders' equity.


TRAVELPORT HOLDINGS: Unit Has Tender Offer for Debt Securities
--------------------------------------------------------------
Travelport Worldwide Limited, Travelport Limited's indirect parent
company, had commenced offers of its common shares, with par value
$0.0002 per share, in exchange for the debt securities issued by
its subsidiaries Travelport LLC and Travelport Holdings, Inc., in
a maximum aggregate principal amount not to exceed $50,000,000 :

   (i) outstanding Senior Floating Rate Notes Due 2016;

  (ii) outstanding 13.875% Senior Fixed Rate Notes Due 2016;

(iii) outstanding 11.875% Senior Subordinated Fixed Rate Notes
       Due 2016;

  (iv) outstanding 11.875% Dollar Senior Subordinated Fixed Rate
       Notes Due 2016; and

   (v) outstanding 10.875% Senior Subordinated Euro Fixed Rate
       Notes Due 2016.

The Exchange Offers will expire at 11:59 p.m., New York City time,
on July 25, 2014, unless extended or earlier terminated by
Travelport Worldwide.  In order for eligible holders to receive
the Total Consideration, those holders must validly tender their
Notes at or prior to 5:00 p.m., New York City time, on July 11,
2014, unless extended by the Company.  Holders who validly tender
their Notes after the Early Tender Time will receive the Exchange
Consideration.  Notes that are tendered prior to the Early Tender
Time may be withdrawn at any time at or prior to the Early Tender
Time, but Notes may not be withdrawn thereafter.  Notes tendered
after the Early Tender Time may not be withdrawn.  In order to
validly tender Notes, among other things, the holder so tendering
must execute a joinder to Travelport Worldwide's existing
shareholders' agreement and agree to complete and execute any
questionnaires or lock-up agreements required to be signed by
shareholders in connection with a registered public offering.

                     About Travelport Holdings

Headquartered in Atlanta, Georgia, Travelport provides transaction
processing services to the travel industry through its global
distribution system business, which includes the group's airline
information technology solutions business.  During FYE2011, the
group reported revenues and adjusted EBITDA of US$2 billion and
US$507 million, respectively.

Travelport Limited incurred a net loss attributable to the Company
of $192 million in 2013, as compared with a net loss attributable
to the Company of $236 million in 2012.  As of March 31, 2014, the
Company had $3.18 billion in total assets, $4.39 billion in total
liabilities and a $1.20 billion total deficit.

                           *     *     *

As reported by the TCR on March 7, 2014, Standard and Poor's
Rating Services said that it lowered to 'SD' (selective default)
from 'CCC+' its long-term corporate credit ratings on U.S.-based
travel services provider Travelport Holdings Ltd. and its indirect
primary operating subsidiary Travelport LLC (together,
Travelport).  The downgrades follow the completion of Travelport's
debt-to-equity swap of its senior subordinated notes due 2016.


UNIVERSITY GENERAL: Widens Net Loss to $35.7 Million in 2013
------------------------------------------------------------
University General Health System, Inc., filed with the U.S.
Securities and Exchange Commission its annual report on Form 10-K
disclosing a net loss attributable to common shareholders of
$35.70 million on $163.98 million of total revenues for the year
ended Dec. 31, 2013, as compared with a net loss attributable to
common shareholders of $3.97 million on $113.22 million of total
revenues for the year ended Dec. 31, 2012.

As of Dec. 31, 2013, the Company had $183.26 million in total
assets, $186.91 million in total liabilities, $2.97 million in
series C convertible preferred stock, and a $6.61 million total
deficit.

"Our 45% increase in total revenue during 2013 was primarily
attributable to an increase in the number of adjusted patient days
and an increase in the number of surgeries performed," commented
Dr. Hassan Chahadeh, M.D., Chairman and chief executive officer of
University General Health System, Inc.  "We are very pleased to
have recently achieved in-network status with United and Humana,
two large third-party payors, and believe the value of these
relationships will be reflected in our 2014 performance.  The
Company is confident that the effects of MNRP (Maximum Non-Network
Reimbursement Plans) will continue to put downward pressure on
out-of-network providers, and thus negotiations with major third-
party payors will remain a high priority and necessary to the
Company's future success.  Nonetheless, we acknowledge that our
greatest challenges in 2013 involved the amount of human and
financial capital expended on our acquisition of the UGH-Dallas
hospital and the slower-than-expected turnaround we have
experienced at that facility.  This has taken a significant toll
on our financial performance, which we expect to improve in 2014."

"We have embarked upon a restructuring of our management team and
refocused our priorities on organic growth within the system
versus additional acquisitions, which have historically resulted
in hospital outpatient department integration challenges,"
continued Chahadeh.  "We have also focused on consolidation of our
debt, to prepare for a more global refinancing in the future.  The
performance of our flagship Houston hospital remains stable, and
the facility has recorded revenue increases while implementing a
$1,000,000 reduction in monthly expenses from January to June
2014.  As a Company, we have learned much from our rapid expansion
and are determined to address the issues that resulted in a
deterioration in our financial position during 2013."

Moss, Krusick & Associates, LLC, in Winter Park, Florida, 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 negative working capital and
relative low levels of cash and cash equivalents.  These
conditions raise substantial doubt about its ability to continue
as a going concern, the auditors said.

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

                        http://is.gd/zJ0GSK

                      About University General

University General Health System, Inc., located in Houston, Texas,
is a diversified, integrated multi-specialty health care provider
that delivers concierge physician- and patient-oriented services.
UGHS currently operates one hospital and two ambulatory surgical
centers in the Houston area.  It also owns a revenue management
company, a hospitality service provider and facility management
company, three senior living facilities and manages six senior
living facilities.


URIGEN PHARMACEUTICALS: Completes Debt Restructuring
----------------------------------------------------
Urigen Pharmaceuticals, Inc. on July 3 announced the successful
completion on June 23, 2014 of the restructuring proposed to and
approved by its stockholders at the 2014 Annual Meeting of
Stockholders held on May 27, 2014, and post-close transactions.

As part of the restructuring, Urigen filed a Certificate of
Amendment to its Amended and Restated Certificate of Incorporation
on June 23, 2014, effecting a reverse split of its common stock
and increasing the number of authorized shares to 20,000,000
shares of common stock and 10,000,000 shares of preferred stock.
Pursuant to this reverse stock split, each five thousand (5,000)
shares of common stock of Urigen issued and outstanding at the
time of the filing of the Certificate of Amendment was converted
into one (1) share of Urigen common stock.  Fractional shares of
post-reverse split common stock will not be issued as a result of
the reverse stock split.  Instead, Urigen will make cash payments
equal to $265.50 per post-reverse split share of common stock.

Also, as part of the restructuring, Urigen completed the
transactions contemplated by the Exchange and Waiver Agreement
that was entered into on April 25, 2014 and was approved at the
Stockholders' meeting.  Under the Exchange and Waiver Agreement,
Platinum-Montaur Life Sciences, LLC was issued 95.469 shares of
newly authorized Series D Preferred Stock (Series D Shares) which
are convertible into 95,469 shares of common stock (on a post-
reverse split basis) and other lenders to the Company, including
its directors and executive officers, were issued an aggregate of
11,455 shares of common stock (on a post-reverse split basis), in
each case, as consideration for waivers of existing defaults under
notes, preferred stock and other instruments that were previously
issued to them.  In sum, after the restructuring, Urigen has
approximately 30,000 shares of post-reverse split common stock
issued and outstanding.

As part of the restructuring Platinum provided Urigen with
$3,000,000 (Three Million Dollars) of new financing in the form of
a loan evidenced by a secured promissory bridge note (Bridge
Note).

Stockholders should be receiving communications from their brokers
or Computershare, the Company's transfer agent, with respect to
the process and requirements for exchanging their shares of common
stock for post-reverse split shares.  In general, Stockholders of
record with Computershare accounts will need to send in old
certificates and be issued new certificates or cash in lieu of
fractional shares, and brokerage account holdings should exchange
automatically where the brokerage holds the certificates.
Payments for fractional shares shall be paid either by check or by
deposit into stockholders' brokerage accounts.

Urigen also undertook two post-close changes to its board and to
the Bridge Note.  As of June 25, 2014 Dr. Michael Goldberg
re-joined Urigen's Board of Directors.  As of July 1, 2014 Urigen
agreed to exchange the Bridge Note into an Amended and Restated
Promissory Note (New Note), with an initial advance of $1,000,000
(One Million Dollars), with an additional $2,000,000 (Two Million
Dollars) available through additional advances of not less than
$500,000 (Five Hundred Thousand Dollars).  Failure to make
advances yields penalties in the form of cancellation of 35.469 of
the Series D Shares held by Platinum. In addition the interest
rate on the New Note was reduced from 16% to 12%.

Dr. Dan Vickery, Chairman of Urigen, stated, "We are pleased to
have completed all of the transactions contemplated by our
proposed restructuring and we look forward to working closely with
Platinum, and welcome Dr. Goldberg back to our board.
Restructuring the Bridge Note into the New Note essentially turns
the Bridge Note into a credit facility, and allows the Company to
save significant interest payments.  Furthermore, in the case in
which we do not draw the entire facility before we raise
additional funds, it is less dilutive to our shareholders.  Now we
can immediately focus on enhancements to our corporate and product
development activities, and believe our new structure will enable
us to more readily attract the financing needed to build real
shareholder value."

Urigen intends to continue to report on all material events by
posting such information on its website at www.urigen.com

The company's Stock previously traded under the designation
(URGP.PK) on the OTC Markets (OTC Pink).  The Company's
registration was revoked by the SEC in October, 2012, and there is
no longer a public market for its securities, stockholders will be
prohibited from transferring or selling their shares except in
exempt transactions that are in compliance with the United States
and applicable state securities laws.  Shareholders who wish to
effect any transfers or sales should consult with their own legal
counsel to ensure compliance with all applicable law.  Further,
the Company is only able to raise additional capital through the
issuance of stock or debt in private offerings that are exempt
from the registration requirements of the Securities Act of 1933.

               About Urigen Pharmaceuticals, Inc.

Urigen Pharmaceuticals, Inc. -- http://www.urigen.com-- is a
specialty pharmaceutical company dedicated to the development and
commercialization of therapeutic products for urological
disorders.  Urigen's lead program targets significant unmet
medical need and major market opportunities in urology.  Urigen's
URG101, a proprietary combination of approved drugs that is
instilled into the bladder, targets interstitial cystitis /
bladder pain syndrome, which affects approximately 10.5 million
men and women in North America.


VAIL LAKE: Case Dismissal Hearing Moved to Sept. 25
---------------------------------------------------
Angela Chen Sabella and Dynamic Finance Corporation filed a motion
to dismiss the Chapter 11 case of Vail Lake Rancho California.
The parties have entered into a "Third Stipulation Continuing
Dates and Deadlines Re Motion to Dismiss Case."  The parties agree
that:

1. The deadline for the Debtor to file any Supplement shall be
   September 4, 2014.

2. The deadline for Movant to file any further reply in support of
   the Motion, if the Debtor files a Supplement, shall be
   September 18, 2014.

3. The hearing on the Motion shall be continued to September 25,
   2014 at 2:30 p.m.

4. The further delay in hearing the Motion shall not be a basis
   for denying the Motion as untimely, nor shall such further
   delay constitute a basis for claiming Movant is estopped from
   prosecuting the Motion.

Meanwhile, there's a hearing for July 10 at 2:30 p.m., for an
order:

1. setting status conference;

2. setting compliance deadlines;

3. setting disclosure statement and plan filing deadlines, and

4. setting sanctions, if appropriate, including dismissal,
   conversion or appointment of a chapter 11 trustee or examiner.

                          About Vail Lake

Vail Lake Rancho California, LLC, and its affiliates own the
California campground Vail Lake Resort. Vail Lake is a large
reservoir in western Riverside County, California, located on
Temecula Creek in the Santa Margarita River watershed,
approximately 15 miles east of Temecula, California.  Properties
cover approximately 9,000 acres and have an estimated water
storage capacity of approximately 51,000 acre-feet.

On Dec. 26, 2012, creditors of Vail Lake filed an involuntary
Chapter 11 petition (Bankr. S.D. Cal. Case No. 12-16684) for Vail
Lake.  In a filing on June 6, 2013, the Debtor said it consents to
the entry of an order for relief and does not contest the
involuntary Chapter 11 petition.

On June 5, 2013, the company sent 5 related entities -- Vail Lake
USA, LLC ("VLU"), Vail Lake Village & Resort, LLC ("VLRC"), Vail
Lake Groves, LLC, Agua Tibia Ranch, LLC, and Outdoor Recreational
Management, LLC -- to Chapter 11 bankruptcy.

The new debtors have sought and obtained an order for joint
administration of their Chapter 11 cases with Vail Lake Rancho
(Case No. 12-16684).

The Debtors are represented by attorneys at Cooley LLP and
Phillips, Haskett & Ingwalson, A.P.C.  The Debtor also employed
Thomas C. Hebrank and E3 Realty Advisors, Inc., with Mr. Hebrank
serving as the Debtors' chief restructuring officer. Lee &
Associates Commercial Real Estate Services is the real estate
brokers of the Debtors.

The Debtors' consolidated assets, as of May 31, 2013, total
$291,016,000 and liabilities total $52,796,846.


VUZIX CORP: Stockholders to Resell 1.5 Million Common Shares
------------------------------------------------------------
Vuzix Corporation filed with the U.S. Securities and Exchange
Commission a Form S-1 registration statement relating to the sale
of up to 1,543,516 shares of the Company's common stock by AIGH
Investment Partners, L.P., Iroquois Master Fund Ltd., Alpha
Capital Anstalt, et al., including 1,333,343 shares issuable upon
conversion of outstanding convertible notes and 210,173 shares
issuable as interest on outstanding convertible notes.  The
proposed maximum offering price is $3.5 million.

The selling stockholders may sell common stock from time to time
in the principal market on which the stock is traded at the
prevailing market price or in negotiated transactions.

The Company will not receive any of the proceeds from the sale of
common stock by the selling stockholders.  The Company will pay
the expenses of registering these shares.

The Company's common stock is quoted on the OTCQB and trades under
the symbol "VUZI".  The last reported sale price of the Company's
common stock on the OTCQB on July 1, 2014, was $2.80 per share.

A full-text copy of the prospectus is available for free at:

                        http://is.gd/9SXpcD

                      About Vuzix Corporation

Vuzix -- http://www.vuzix.com-- is a supplier of Video Eyewear
products in the consumer, commercial and entertainment markets.
The Company's products, personal display devices that offer users
a portable high quality viewing experience, provide solutions for
mobility, wearable displays and virtual and augmented reality.
Vuzix holds 33 patents and 15 additional patents pending and
numerous IP licenses in the Video Eyewear field.  Founded in 1997,
Vuzix is a public company with offices in Rochester, NY, Oxford,
UK and Tokyo, Japan.

As of March 31, 2014, the Company had $2.99 million in total
assets, $11.95 million in total liabilities and a $8.96 million in
total stockholders' equity.

"The Company's independent registered public accounting firm's
report issued on our consolidated financial statements for the
years ended December 31, 2013 and 2012 included an explanatory
paragraph describing the existence of conditions that raise
substantial doubt about the Company's ability to continue as a
going concern, including continued operating losses and the
potential inability to pay currently due debts.  The net operating
loss for the first quarter of 2014 was $993,150.  The Company has
incurred a net loss from continuing operations consistently over
the last 2 years.  The Company incurred annual net losses from its
continuing operations of $10,146,228 in 2013 and $4,747,387 in
2012, and has an accumulated deficit of $34,780,626 as of
March 31, 2014.  The Company's ongoing losses have had a
significant negative impact on the Company's financial position
and liquidity. As at March 31, 2014 the Company had a working
capital deficit of $1,836,319," the Company said in its quarterly
report for the period ended March 31, 2014.


VYCOR MEDICAL: Fountainhead Capital Holds 47.7% Equity Stake
------------------------------------------------------------
Fountainhead Capital Management Limited filed an amended Schedule
13D with the U.S. Securities and Exchange Commission to disclose
that it beneficially owned 5,827,289 shares of common stock of
Vycor Medical, Inc., representing 47.7 percent of the shares
outstanding as of June 30, 2014.

On June 30, 2014, Vycor Medical issued 6,329 shares of common
stock to Fountainhead in satisfaction of $15,000 of consulting
fees due for the quarter ended June 30, 2014.  As a result of that
issuance, Fountainhead's previously-reporting holdings of Vycor
Common Stock were increased to a total of 5,827,289 shares.

A full-text copy of the regulatory filing is available at:

                        http://is.gd/qL1W07

                        About Vycor Medical

Boca Raton, Fla.-based Vycor Medical, Inc. (OTC BB: VYCO)
-- http://www.VycorMedical.com/-- is a medical device company
committed to making neurological brain, spinal and other surgical
procedures safer and more effective.  The Company's flagship,
Patent Pending ViewSite(TM) Surgical Access Systems represent an
exciting new minimally invasive access and retraction system that
holds the potential for speedier, safer and more economical brain,
spinal and other surgeries and a quicker patient discharge.
Vycor's innovative medical instruments are designed to optimize
neurosurgical site access, reduce patient risk, accelerate
recovery, and add tangible value to the professional medical
community.

Vycor Medical reported a net loss of $2.47 million on $1.08
million of revenue for the year ended Dec. 31, 2013, as compared
with a net loss of $2.93 million on $1.20 million of revenue for
the year ended Dec. 31, 2012.  The Company's balance sheet at
March 31, 2014, showed $4.86 million in total assets, $5.10
million in total liabilities and a $247,332 total stockholders'
deficiency.


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 96.45 cents-on-
the-dollar during the week ended Friday, July 4, 2013 according to
data compiled by LSTA/Thomson Reuters MTM Pricing and reported in
The Wall Street Journal.  This represents a decrease of 0.20
percentage points from the previous week, The Journal relates.
Walter Energy Inc 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.


WEST CORP: Tender Offers to Expire on July 15
---------------------------------------------
West Corporation disclosed on July 1, 2014, that issued $1 billion
aggregate principal amount of 5.375% senior notes that mature on
July 15, 2022. The 2022 Senior Notes were issued pursuant to an
indenture dated July 1, 2014, by and among the Company, the
guarantors named therein and The Bank of New York Mellon Trust
Company, N.A., as trustee.

West has used or plans to use the net proceeds from the issue and
the sale of the 2022 Senior Notes:

   (i) to repurchase its 8.625% senior notes due 2018 that were
       tendered pursuant to the tender offer and consent
       solicitation for the 2018 Senior Notes and to redeem any
       2018 Senior Notes remaining outstanding after completion of
       the 8.625% Tender Offer;

  (ii) to repurchase up to $200 million in aggregate principal
       amount of its 7.875% senior notes due 2019 pursuant to a
       tender offer for such 2019 Senior Notes; and

(iii) to repay approximately $250 million of the outstanding term
       loans under West?s senior secured credit facilities, in
       each case together with any accrued but unpaid interest and
       premium, if applicable, on those principal amounts.

The Tender Offers were conducted pursuant to the terms specified
in the Company's Offer to Purchase and Consent Solicitation
Statement dated June 17, 2014.

Pursuant to the Tender Offers, the Company said it received
tenders and consents from the holders of approximately $270.8
million aggregate principal amount, or approximately 54%, of the
2018 Senior Notes, and it received tenders from the holders of in
excess of $200 million aggregate principal amount before the
expiration of the early tender deadline on June 30, 2014, at 5:00
p.m. Eastern time.  The consents received in connection with the
8.625% Tender Offer exceeded the number needed to approve the
proposed amendments to the 2018 Senior Indenture, which have the
effect of eliminating substantially all of the restrictive
covenants contained therein, and provide for a shorter notice
period required in connection with a voluntary redemption.

Pursuant to the terms of the 8.625% Tender Offer, the Company has
accepted for payment all 2018 Senior Notes tendered on or prior to
the Early Tender Date, and holders that tendered such 2018 Senior
Notes will receive $1,063.09 per $1,000 in principal amount of the
2018 Senior Notes validly tendered.  Pursuant to the terms of the
7.875% Tender Offer, the Company has accepted for payment $200
million in aggregate principal amount of 2019 Senior Notes
tendered on or prior to the Early Tender Date, and holders that
tendered those 2019 Senior Notes will receive $1,066.29 per $1,000
in principal amount of the 2019 Senior Notes validly tendered.

The Tender Offers are scheduled to expire at Midnight Eastern
time, on July 15, 2014, unless extended by the Company.  Because
at least $200 million in aggregate principal amount of 2019 Senior
Notes were tendered in the 7.875% Tender Offer, the Company does
not intend to accept for payment any additional 2019 Senior Notes
that are tendered in the 7.875% Tender Offer.

Redemption of 2018 Senior Notes

On July 1, 2014, the Company instructed the Senior Notes Trustee
to deliver a notice of redemption to the holders of the remaining
outstanding 2018 Senior Notes. The redemption date is July 17,
2014.  The redemption price for the 2018 Senior Notes is 105.953%
of the principal amount of the notes redeemed.  In addition, the
Company will pay accrued and unpaid interest on the redeemed notes
up to, but not including, the Redemption Date.

A full-text copy of the Report is available for free at:

                       http://is.gd/RUGU7g

                     About West Corporation

Founded in 1986 and headquartered in Omaha, Nebraska, West
Corporation -- http://www.west.com/-- provides outsourced
communication solutions to many of the world's largest companies,
organizations and government agencies.  West Corporation has a
team of 41,000 employees based in North America, Europe and Asia.

West Corp posted net income of $143.20 million in 2013, as
compared with net income of $125.54 million in 2012.  The
Company's balance sheet at March 31, 2014, showed $3.54 billion in
total assets, $4.25 billion in total liabilities and a $709.40
million total stockholders' deficit.

                         Bankruptcy Warning

"If we cannot make scheduled payments on our debt, we will be in
default, and as a result:

   * our debt holders could declare all outstanding principal and
     interest to be due and payable;

   * the lenders under our Senior Secured Credit Facilities could
     terminate their commitments to lend us money and foreclose
     against the assets securing our borrowings; and

   * we could be forced into bankruptcy or liquidation," the
     Company said in its quarterly report for the period ended
     March 31, 2014.

                           *    *     *

As reported by the TCR on June 21, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on Omaha, Neb.-based
business process outsourcer West Corp. to 'BB-' from 'B+'.  The
upgrade reflects Standard & Poor's view that lower debt leverage
and a less aggressive financial policy will strengthen the
company's financial profile.

In the April 4, 2013, edition of the TCR, Moody's Investor Service
upgraded West Corporation's Corporate Family Rating to B1 from B2.
"The CFR upgrade to B1 reflects West's shift to a more
conservative capital structure and financial policies as a
publicly owned company," stated Moody's analyst Suzanne Wingo.


ZYNEX INC: Incurs $1.44-Mil. Net Loss in March 31 Quarter
---------------------------------------------------------
Zynex, Inc., filed its quarterly report on Form 10-Q, disclosing a
net loss of $1.44 million on $3.17 million of net revenues for the
three months ended March 31, 2014, compared with a net loss of
$310,000 on $7.67 million of net revenues for the same period in
2013.

The Company's balance sheet at March 31, 2014, showed $16 million
in total assets, $12.57 million in total liabilities, and
stockholders' equity of $3.43 million.

As a result of the Company losses from operations, negative
operating cash flow, and limited liquidity, the Company's
independent registered public accounting firm's report on the
Company's consolidated financial statements as of and for the year
ended Dec. 31, 2013 includes an explanatory paragraph discussing
that these conditions raise substantial doubt about the Company's
ability to continue as a going concern, according to the
regulatory filing.

A copy of the Form 10-Q is available:

                       http://is.gd/KeEm4T

                           About Zynex

Zynex, founded in 1996, operates under five primary business
segments: Zynex Medical, NeuroDiagnostics, Monitoring Solutions,
International, and Billing and Consulting.


* BOND PRICING: For Week From June 30 to July 4, 2014
-----------------------------------------------------

  Company               Ticker  Coupon Bid Price  Maturity Date
  -------               ------  ------ ---------  -------------
Alion Science &
  Technology Corp       ALISCI  10.250    74.816       2/1/2015
Allen Systems
  Group Inc             ALLSYS  10.500    51.250     11/15/2016
Allen Systems
  Group Inc             ALLSYS  10.500    52.500     11/15/2016
Brookstone Co Inc       BKST    13.000    45.000     10/15/2014
Brookstone Co Inc       BKST    13.000    45.250     10/15/2014
Brookstone Co Inc       BKST    13.000    45.250     10/15/2014
Buffalo Thunder
  Development
  Authority             BUFLO    9.375    41.500     12/15/2014
Caesars Entertainment
  Operating Co Inc      CZR     10.000    38.500     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     12.750    43.900      4/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    41.219     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    41.125     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    38.500     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    41.125     12/15/2018
Caesars Entertainment
  Operating Co Inc      CZR     10.000    38.500     12/15/2018
Champion
  Enterprises Inc       CHB      2.750     0.250      11/1/2037
Endeavour
  International Corp    END      5.500    47.500      7/15/2016
Energy Conversion
  Devices Inc           ENER     3.000     0.125      6/15/2013
Energy Future
  Competitive
  Holdings Co LLC       TXU      8.175     1.300      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    36.375       5/1/2017
James River Coal Co     JRCC     7.875    11.998       4/1/2019
James River Coal Co     JRCC     4.500     2.000      12/1/2015
James River Coal Co     JRCC    10.000    12.250       6/1/2018
James River Coal Co     JRCC    10.000    11.000       6/1/2018
James River Coal Co     JRCC     3.125     4.000      3/15/2018
LBI Media Inc           LBIMED   8.500    30.000       8/1/2017
Lehman Brothers Inc     LEH      7.500    12.125       8/1/2026
MF Global
  Holdings Ltd          MF       6.250    46.000       8/8/2016
MF Global
  Holdings Ltd          MF       1.875    46.000       2/1/2016
MModal Inc              MODL    10.750    10.375      8/15/2020
MModal Inc              MODL    10.750    10.125      8/15/2020
Momentive Performance
  Materials Inc         MOMENT  11.500    31.000      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    32.000      8/15/2016
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    75.734     12/15/2014
River Rock
  Entertainment
  Authority/The         RIVER    9.000    18.000      11/1/2018
TMST Inc                THMR     8.000    17.125      5/15/2013
Terrestar
  Networks Inc          TSTR     6.500    10.000      6/15/2014
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250    17.500      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250    17.500      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500    12.000      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.250    17.625      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc           TXU     10.500    17.125      11/1/2016
TransDigm Inc           TDG      7.750   107.090     12/15/2018
Verso Paper
  Holdings LLC /
  Verso Paper Inc       VRS     11.375    56.050       8/1/2016
WCI Finance LLC /
  WEA Finance LLC       WDCAU    5.700   112.633      10/1/2016
WEA Finance LLC /
  WT Finance Aust
  Pty Ltd               WDCAU    6.750   120.914       9/2/2019
WEA Finance LLC /
  WT Finance Aust
  Pty Ltd               WDCAU    5.750   105.484       9/2/2015
WEA Finance LLC /
  WT Finance Aust
  Pty Ltd               WDCAU    6.750   120.914       9/2/2019
Western Express Inc     WSTEXP  12.500    79.000      4/15/2015
Western Express Inc     WSTEXP  12.500    79.000      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 ***