TCR_Public/140716.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

            Wednesday, July 16, 2014, Vol. 18, No. 196

                            Headlines

126 LLC: Court Pegs Value of Collateral for Newark's Secured Lien
21ST CENTURY ONCOLOGY: S&P Revises Ratings Outlook to Negative
ABERCROMBIE & FITCH: Moody's Assigns B1 CFR, Rates $325MM Loan B1
ABERCROMBIE & FITCH: S&P Assigns BB- CFR & Rates $325MM Debt BB-
AGFEED USA: Wants Escrow Agent to Release Sale Closing Payments

ALGO INC: Case Summary & 5 Unsecured Creditors
ALLONHILL LLC: Seeks More Time to Decide on Leases
ALLONHILL LLC: Court Authorizes Hiring of W&C as Appellate Counsel
ALLONHILL LLC: Can Tap Haddon as Special Appellate Counsel
ALLONHILL LLC: Can Hire EKS&H as Tax Accountant, Auditor

ALLY FINANCIAL: Moody's Affirms Ba3 CFR & B1 Sr. Unsecured Rating
AMERICAN APPAREL: Arbitration Clauses Let Retailer Hide Misconduct
ARTURO J. GONZALEZ: Voluntary Chapter 11 Case Summary
ASHLEY STEWART: Plan Exclusivity Period Extended Until Nov. 4
ASTON ESCROW: S&P Assigns 'B' CCR & Rates $440MM Secured Notes 'B'

ATLS ACQUISITION: Has Until Aug. 30 to Decide on Unexpired Leases
BAPTIST HOME: Has Aug. 15 Auction of Assets
BANESCO USA: Fitch Affirms 'B+' Long-term Issuer Default Rating
BERNARD L. MADOFF: Ruling Blocks Risky Expansion Of Bankruptcy Law
BRINX RESOURCES: Reports $109K Net Loss in April 30 Quarter

BRITISH AMERICAN: Fraudulent Transfer Claims Kept Alive In RE Suit
BURCON NUTRASCIENCE: PwC LLP Raises Going Concern Doubt
CABEL PROPERTIES: Files List of 20 Largest Unsecured Creditors
CABEL PROPERTIES: Files Schedules of Assets and Liabilities
CABEL PROPERTIES: Seeks to Assume 2009 Purchase Agreement

CARDTRONICS INC: S&P Affirms 'BB+' Corp. Credit Rating
CHARLOTTE RUSSE: S&P Revises Outlook to Pos. on Stock Redemption
CHINA NATURAL: Alan Nisselon Named Interim Trustee
CLEAREDGE POWER: Signs Doosan to $48 Million Contract
COASTLINE INVESTMENTS: Can Hire CBRE as Real Estate Broker

COLDWATER CREEK: Hearing Thurs. on Sale of Property Leases
COLONIAL BANK: Citi Says High Court Ruling Dooms $388M MBS Suit
COMMUNITY MEMORIAL: Seeks Approval to Sell Cheboygan Property
COMMUNITY MEMORIAL: Gets Approval to Settle Dispute With PHSI
CORINTHIAN COLLEGES: Takedown Signals Tougher Agency Enforcement

D.A.B. GROUP: Stalled Allen Street Hotel in NY Files for Ch. 11
D.A.B. GROUP: Files Schedules of Assets and Liabilities
DETROIT, MI: Mayor Mike Duggan's Pledges Echo in City's North End
DIAMOND TECHNOLOGY: Posts $154K Net Loss in April 30 Quarter
DIVERSIFIED RESOURCES: Posts $406K Net Loss in April 30 Quarter

ENERGY FUTURE: Wants Separate 401(k) Plan for Oncor Employees
EXIDE TECHNOLOGIES: Seeks $65M In Additional Bankruptcy Financing
F&H ACQUISITION: Has Until August 13 to Decide on Leases
FLETCHER INT'L: Bid to Disgorge and Compel Compliance Denied
FONTAINEBLEAU LAS VEGAS: Trustee Strikes $83.3M Deal for Creditors

FREE LANCE-STAR: DSP Seeks to Disband Committee
FREE LANCE-STAR: Wants Case Caption Changed to "VA NEWSPAPER"
GABRIEL TECHNOLOGIES: Court OKs Case Conversion to Chapter 7
GBG RANCH: Files Notice to Remove State Court Suit
GENERAL MOTORS: Top Lawyer Faces Scrutiny on Defect, Settlements

GLOBAL GEOPHYSICAL: Approved to Pay or Advance Defense Cost
GLOBAL GEOPHYSICAL: July 22 Hearing on Cardno Entrix Agreement
GLOBAL GEOPHYSICAL: July 22 Hearing on Bid to Pay Colombian Taxes
GLOBAL GEOPHYSICAL: Needs 60 Days to Propose a Plan
GOLDKING HOLDINGS: Scheduled for Aug. 18 Confirmation Hearing

HANESBRANDS INC: Moody's Affirms 'Ba1' Corporate Family Rating
HANESBRANDS INC: S&P Retains 'BB' Corp. Credit Rating
HDGM ADVISORY: Judge Adjourns Motion to Convert Case Indefinitely
HDGM ADVISORY: Hearing on Trustee Motion Adjourned Indefinitely
HEARING HELP EXPRESS: Case Summary & 20 Top Unsecured Creditors

HERITAGE PLACE: Case Summary & 20 Largest Unsecured Creditors
HG SPEC: Chapter 15 Case Summary
HOYT TRANSPORTATION: Plan Filing Exclusivity Extended to Aug. 12
IDAHO BANCORP: D.L. Evans Wins at Auction
KILROY REALTY: Moody's Affirms 'Ba1' Preferred Stock Rating

LEHMAN BROTHERS: Protocol to Resolve Indemnification Claims Okayed
LEHMAN BROTHERS: July 31 Deadline for LB UK Creditors' Debt Proofs
LEHMAN BROTHERS: LBEL Creditors July 24 Deadline to Prove Claims
LEHMAN BROTHERS: Workers' ESOP Suit Revived in Supreme Court
LILY GROUP: Bid to Substantially Consolidate Cases Denied

LOVE CULTURE: Retailer Planning New Jersey Filing
LTHM HOUSTON: Case Summary & 20 Top Unsecured Creditors
M. A. NEGM: Case Summary & 15 Unsecured Creditors
MCGRAW-HILL GLOBAL: Moody's Hikes 1st Lien Debt Rating to B1
MCGRAW-HILL GLOBAL: S&P Affirms 'B+' Rating on 1st Lien Debt

MEMORIAL PRODUCTION: Moody's Rates $500MM Unsecured Notes 'Caa1'
MEMORIAL PRODUCTION: S&P Cuts Sr. Unsecured Notes Rating to 'CCC+'
MF GLOBAL: UK Unit OK'd to Pay Clients After Key Settlement
MOBILEBITS HOLDINGS: Has $2.91-Mil. Net Loss in April 30 Quarter
MOMENTIVE PERFORMANCE: Bridge Facility Letter Approval Sought

MORNINGSTAR MARKETPLACE: Claims Bar Date Set for July 21
NAKED BRAND: Reports $1.23-Mil. Net Loss in April 30 Quarter
NATIONAL CINEMEDIA: Moody's Rates $135MM Credit Facility 'Ba2'
NEW ENGLAND COMPOUNDING: Patients Sue NJ Hospital Over Outbreak
OCZ TECHNOLOGY: Confident About Approval of 'Consensual' Plan

OMEGA HEALTHCARE: Fitch Affirms 'BB+' Subordinated Debt Rating
PETROLOGISTICS LP: Moody's Places B1 CFR on Review for Upgrade
PF CHANG'S: S&P Affirms 'B-' CCR on Lower Business Risk
POINT BLANK: Asks Court to Extend Deadline to Remove Suits
QUIKSILVER INC: S&P Affirms 'B-' CCR & Revises Outlook to Neg.

REALBIZ MEDIA: Has $869K Net Loss in April 30 Quarter
REX ENERGY: Moody's Rates $250MM Sr. Unsecured Notes 'B3'
REX ENERGY: S&P Assigns 'B-' Rating on $250MM Unsecured Notes
RIOFORTE INVESTMENTS: To File for Creditor Protection
SOURCE INTERLINK: July 21 Hearing on Bid to Sell Retail Business

SOURCE INTERLINK: Meeting of Creditors Scheduled for July 22
SP HOLDCO I: Moody's Assigns B3 Corp. Family Rating; Outlook Neg.
SCSJ ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
SIGNAL ELECTRIC: Default Judgment in "Ha" Suit Vacated
TACTICAL INTERMEDIATE: Unsecured Creditors May Receive Nothing

TACTICAL INTERMEDIATE: Has Interim Approval of $2.8MM DIP Loan
TACTICAL INTERMEDIATE: Has Interim OK to Pay Critical Vendors
TACTICAL INTERMEDIATE: Can Employ Prime Clerk as Claims Agent
TACTICAL INTERMEDIATE: Court Issues Joint Administration Order
TELEPHONE AND DATA: Fitch Cuts Issuer Default Ratings to 'BB+'

TEM ENTERPRISES: Court Approves Cash Collateral Use for 60 Days
TEM ENTERPRISES: Files List of 20 Largest Unsecured Creditors
TEM ENTERPRISES: Files Schedules of Assets and Liabilities
TEM ENTERPRISES: July 23 Hearing on Bid to Assume Accountemps Deal
TLO LLC: Wants to Distribute $35-Mil. to Tech Inc.

TLO LLC: Oversight Committee Hires GlassRatner as Fin'l Advisor
TLO LLC: Withdraws Bid to Amend Employment of Ver Ploeg
TLO LLC: Oversight Panel Taps Genovese Joblove as Counsel
TRIPLANET PARTNERS: Robinson Brog Approved as General Counsel
TRIPLANET PARTNERS: Joshua Rizack Approved as CRO

U.S. COAL: Consents to Being in Chapter 11
USS PARENT: Moody's Assigns 'B2' CFR & 'B1' Senior Secured Rating
VAIL LAKE: Plan Exclusivity Period Extended to Aug. 1
VIVARO CORP: Aug. 25 Transition Period Claims Bar Date Proposed
VIVARO CORP: To Execute Partial Lien Release Against Purchaser

WHEATLAND MARKETPLACE: U.S. Bank Balks at Cash Access Beyond July
WHITING PETROLEUM: Moody's Puts 'Ba2' CFR On Review for Upgrade
WINDSOR PETROLEUM: Files Ch. 11 to Implement Debt-To-Equity Swap
XUMANII INTERNATIONAL: Has $1.06-Mil. Net Loss in April 30 Quarter
YARWAY CORP: Seeks Extension of Time to Remove Lawsuits

YELLOWSTONE MOUNTAIN: Blixseth Hit With $220MM Judgment by Trustee
YUCCA GROUP: Submits Post-Confirmation Status Report

* Disbarred Atty Accused Of Diverting Firm's Clients, Cash
* Social Security Not Considered in Conversion from '7' to '13'

* AIG, Pru's Living Wills Won't Cure All in Case of Collapse
* Immigrants Squeezed as Banks Curtail Int'l Money Transfers

* 4 Attorneys Join Schnader, Bolstering Firm's Real Estate Group
* London Partner Elected Global Chair Of Latham & Watkins


                             *********


126 LLC: Court Pegs Value of Collateral for Newark's Secured Lien
-----------------------------------------------------------------
Bankruptcy Judge Donald H. Steckroth, at a hearing on July 8,
2014, was asked by debtor 126 LLC to fix the fair market value of
its real property located at 126 Passaic Street, Newark, New
Jersey.

The property was the subject of an auction sale and subsequent
hearing before the Court approving that sale on May 5, 2014.  The
sale of the Property was conducted under Section 363 of the
Bankruptcy Code, and was offered free and clear of liens, valid
liens to attach to the proceeds of sale.

The Property was sold at public auction with competitive bidding
after extensive marketing by an experienced mortgage broker.
Meadowlands Ventures LLC submitted the highest and best offer.
The price at the auction sale was $1,600,000 subject to the
Debtor's credit or give-back to the purchaser of $250,000 for site
remediation and, most significantly, the purchase was conditioned
upon environmental insurance proceeds in the sum of at least
$1,100,000 being available for site remediation.  Thus, with the
sale price of $1,600,000, less credits to the purchaser of
$250,000 and $1,125,000, already placed in an environmental trust,
$225,000 represents the market value of the Property.  Thus, this
is the value of the collateral for the secured portion of the
City's claim.  The balance of the City's claim shall be treated as
an unsecured general claim.

The purpose of the July 8 Hearing concerned determination of the
value of the Property and thus, in essence, sought to fix the
secured amount of the lien asserted by the City of Newark in the
sum of almost $1,400,000, roughly one half of which is for unpaid
real estate taxes with the balance for water and sewer rents.

The Debtor originally filed a motion seeking to disallow portions
of the City's claim, but after conferences and adjournment of the
original application, the Hearing morphed into one regarding the
value of the Property so that, pursuant to Section 506(a) of the
Bankruptcy Code, the value of the collateral may be determined to
fix the City's secured portion of its claim.  The City objected
and participated in the Hearing. The Debtor argues that the
Hearing is vital to the successful liquidation of the Debtor's
assets, a proposed settlement with W.A.S. Terminals Corp., and the
successful remediation of the Property.

The Debtor had commenced an adversary proceeding against W.A.S.
seeking to determine the extent of W.A.S.'s lien, to which W.A.S.
filed various counterclaims against the Debtor. After extensive
litigation, the dispute has been settled with the parties agreeing
to settle all claims.  As part of the Settlement, the parties
agreed that upon closing of title and any sale of the Property,
the Debtor would release its insurance proceeds to the buyer in
order to complete environmental remediation of the Property, as
required by the New Jersey Department of Environmental Protection
and other governmental agencies.

The City offered no testimony as to the value of the Property,
which is its collateral for its lien.  It did object at the
Hearing, asserting that, in its view, the best test of value would
be an independent appraisal of the Property, although the City did
not offer such an appraisal.

The Court disagrees with that contention and finds that a fair
valuation must be analyzed in light of the marketplace and assumes
a willing buyer and a willing seller.  According to the Court,
with competitive bidding after extensive advertising, the Auction
sale constituted a market sufficient to establish fair value for
the Property.

In a July 14, 2014 Opinion available at http://is.gd/LrPC8kfrom
Leagle.com, Judge Steckroth held that the value of the Property is
as fixed by the market at the time of the auction sale, taking
into account the credits provided by the Debtor and the insurance
proceeds available, all of which were conditions of the sale.
Accordingly, the value of the collateral for the City's secured
lien is determined to be $225,000.

126 LLC filed a voluntary petition under Chapter 7 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 12-35157) on October 16,
2012, which was subsequently converted to a case under Chapter 11.


21ST CENTURY ONCOLOGY: S&P Revises Ratings Outlook to Negative
--------------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
21st Century Oncology Holdings Inc. to negative from stable, and
affirmed the ratings, including the corporate credit rating at
'B-'.

"We revised the outlook on 21st Century Oncology after CMS
announced a proposed rate cut for radiation oncology," said
Standard & Poor's credit analyst Tulip Lim.  "About 45% of the
company's U.S. net patient service revenue comes from Medicare and
Medicaid.  The final rate is often different from the one
proposed; however, we believe the risk that even a smaller rate
cut could raise discretionary cash flow deficits beyond our
expectations for the rating and reduce the company's liquidity."

Standard & Poor's could consider lowering the rating on 21st
Century Oncology if S&P deems the company's capital structure to
be unsustainable and, importantly, S&P sees meaningful risk that
its liquid resources may not be able cover its near-term needs.
This could occur if the company's revolving credit facility
availability approaches $25 million or less and could coincide
with treatment volumes declining, reimbursement decreasing, or
expected margin expansion not materializing, leading to widening
discretionary cash flow deficits.

Alternatively, S&P could revise the outlook to stable if
reimbursement remains flat or at current levels, volumes continue
to increase, and the company continues to improve margins.  A
revision to stable would also require the company's liquidity to
be adequate for near-term needs.


ABERCROMBIE & FITCH: Moody's Assigns B1 CFR, Rates $325MM Loan B1
-----------------------------------------------------------------
Moody's Investors Service assigned a B1 Corporate Family Rating to
Abercrombie & Fitch Management Co., an indirect operating
subsidiary of Abercrombie & Fitch Co. Moody's also assigned a B1
rating to the company's proposed $325 million term loan, and an
SGL-1 Speculative Grade Liquidity rating. The outlook is positive.

Proceeds from the new term loan will be used to refinance the
company's existing credit facilities, add approximately $125
million of cash to the balance sheet, and for general corporate
purposes, including potential share repurchases. The company is
also expected to establish a new $400 million ABL revolver
(unrated). The ratings are subject to completion of the
transaction and review of final documentation.

The following ratings were assigned:

Corporate Family Rating at B1

Probability of Default Rating at B1-PD

$325 million secured term loan due 2021 at B1 (LGD3)

Speculative Grade Liquidity Rating at SGL-1

Ratings Rationale

Abercrombie's B1 Corporate Family Rating reflects its moderately-
high pro forma lease-adjusted debt/EBITDAR, at about 4.25 times,
compounded by its very high business risk as a niche retailer in
the highly competitive teen apparel market. Revenue and earnings
volatility is very high in this space due to high fashion risk and
discretionary consumer spending cycles, particularly teens between
the ages of 14-22 years old. Abercrombie's operating performance
has been inconsistent over the past six years, and recent trends
are again negative. Moody's believes is attributable to both
company-specific and macroeconomic factors. Apparel spending in
the company's core youth/teen demographic has remained challenged,
and an elevated price point has likely not resonated well with an
increasingly cost conscious consumer, particularly when
considering the highly promotional environment and lower-priced
alternative brands. While the company is undertaking initiatives
directed at these challenges, competition will remain fierce as
retailers chase a smaller percentage of the consumers wallet,
likely pressuring the ability to significantly improve margins.

The B1 rating also acknowledges, however, the company's sizable
market presence, with revenue of about $4 billion. Abercrombie has
three distinct, well-known brands and meaningful diversification
across geographies and distribution channels through its growing
direct-to-consumer business with significant opportunities for
growth. Liquidity is very good, as reflected in the SGL-1
Speculative Grade Liquidity rating, providing significant ratings
support. Balance sheet cash, which is expected on average to
remain in excess of funded debt, and seasonal operating cash flow
are expected to amply cover interest expense, working capital and
capital expenditures. Dividends and share repurchase activity
remain the likely uses of excess cash flow. The company allocated
$150 million towards repurchases in the first quarter of 2014 and
has remaining authorization for another 12.4 million shares. The
overall liquidity position will further benefit from the
establishment of the $400 million ABL revolver, providing an ample
backstop to operating cash flow, and lack of financial maintenance
covenants in the term loan.

The B1 rating assigned to the proposed $325 million term loan
reflects its second lien position on domestic accounts receivable
and inventory (the $400 million asset based revolver will have a
first lien on these assets), a first lien on substantially all
other domestic assets and subsidiary stock, and 65% of the stock
of controlled foreign subsidiaries. The rating also reflects
meaningful support from junior claims in the capital structure
from unsecured lease obligations. The credit facilities are
guaranteed by the company's direct and indirect domestic
subsidiaries.

The positive outlook reflects Moody's expectation that the company
will make meaningful progress in executing its strategy to return
to profitable growth -- including improved U.S. store
productivity, international store expansion, increased e-commerce
penetration and executing on cost reduction initiatives -- but
acknowledges that these initiatives are still in the early stages,
and that significant execution risk remains.

Ratings could be upgraded if the company sustainably improves
operating performance, including a return to profitable growth,
positive comparable store sales and margin expansion, while
maintaining a balanced financial policy. Quantitative metrics
include lease adjusted debt/EBITDA sustained at or below 4.0 times
and EBITA/interest expense above 2.75 times, while maintaining a
very good liquidity position.

A ratings downgrade could occur if operating trends were to
deteriorate further, financial policies become more aggressive, or
liquidity meaningfully declines. Specific metrics include lease
adjusted debt/EBITDA above 5.0 times or EBITA/Interest below 2.0
times on a sustained basis.

The principal methodology used in this rating was the Global
Retail Industry published in June 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.

Abercrombie & Fitch Management Co. is an indirect operating
subsidiary of Abercrombie & Fitch Co. Through its subsidiaries,
the company operates approximately 1,000 specialty apparel stores
and several e-commerce websites in North America, Europe, and the
Asia Pacific regions under the "Abercrombie & Fitch",
"abercrombie", and "Hollister" brands. Annualized revenues
approximate $4 billion.


ABERCROMBIE & FITCH: S&P Assigns BB- CFR & Rates $325MM Debt BB-
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' corporate
credit rating to New Albany, Ohio-based Abercrombie & Fitch Co.
The outlook is stable.

"At the same time, we assigned a 'BB+' issue-level rating to the
company's proposed $400 million ABL facility with a '1' recovery
rating.  The '1' recovery rating indicates our expectation of a
very high (90%-100%) recovery in the event of payment default.  We
also assigned a 'BB-' issue-level rating to the company's new $325
million term loan B with a '3' recovery rating, indicating our
expectation of meaningful (50%-70%) recovery in the event of a
payment default," S&P said.

The company will use the proceeds from the transaction to
refinance a $131 million term loan and $60 million outstanding
under an unsecured revolving credit facility.  S&P expects the
remainder of the funds to be held in cash at the close of the
transaction and be used for general corporate purposes, including
share repurchases, throughout the remainder of 2014.

"Abercrombie participates in the competitive and widely fragmented
specialty apparel industry.  We view the company's highly
recognizable brand that has an extensive global presence and solid
business position focusing on the teen segment, as strengths,"
said credit analyst Kristina Koltunicki.  "Challenges include its
high historical volatility of profitability and continued
depressed operating performance, highlighted by persistent
negative same-store sales.  We view Abercrombie's omni-channel
initiatives and international expansion as the two primary
vehicles of growth for the company, as we believe its U.S. store
presence has been overbuilt and will decline over the next two
years."

The rating outlook on Abercrombie is stable.  S&P expects revenues
and margins to remain pressured for the remainder of 2014 given
its view that the retail environment will continue to be
competitive and highly promotional.  However, S&P believes
operating performance will begin to improve in the beginning of
2015 as the company gains further momentum in realizing the
benefits of its strategic initiatives.  Despite S&P's view for an
uneven performance cadence, it still expects credit protection
measures to improve some from pro forma levels.

Downside Scenario

S&P could lower its ratings on Abercrombie if operating
performance does not show signs of rebounding in 2015 possibly as
a result of merchandise missteps related to its fashion-conscience
teen consumer and a persistent slowdown in U.S. mall traffic.  At
that point, EBITDA would erode by about 10% from forecasted
levels, which would result in leverage approaching the mid-5.0x
area.  S&P could also lower the ratings if Abercrombie becomes
more aggressive with shareholder friendly activities, including
debt-financed share repurchases, resulting in the deterioration of
leverage to similar levels.

Upside Scenario

An upgrade is not under consideration over the next year, given
S&P's tempered performance expectations.  S&P could consider
raising its ratings over a longer time horizon, if operating
performance becomes less volatile, demonstrated through more
consistent EBITDA generation.  An alternative scenario for an
upgrade would include an improvement to credit metrics, such that
debt leverage would improve to under 4.0x and FFO to debt would
increase more than 20%, on a sustained basis.  EBITDA would need
to increase by approximately 25% from forecasted levels for this
to occur.


AGFEED USA: Wants Escrow Agent to Release Sale Closing Payments
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing on July 28, 2014, at 11:00 a.m. to consider
AgFeed Industries, Inc's motion for an order (i) enforcing the
sale order in connection with AgFeed Industries, Inc. stock sale;
(ii) direct U.S. Bank National Association, as escrow agent, to
release the escrowed funds which represents the unpaid closing
payments to AgFeed Industries, Inc.

On Nov. 26, 2013, the Court authorized the sale of stock of AgFeed
Industries to Good Charm International Development, Ltd., as
purchaser, Ningbo Tech-Bank Co., Ltd., as parent dated Sept. 13,
2013.  Pursuant to the stock purchase agreement, the purchaser
agreed to buy 100% of the stock in AgFeed Industries, Inc.
(British Virgin Islands).

At closing, the purchaser was to pay AgFeed Industries the base
purchase price, minus the cash deposit, minus the estimated
adjustment as determined by AgFeed Industries.

Closing of the SPA occurred on Dec. 6, 2013.

According to the Debtor, one component of the estimated adjustment
was AgFeed Industries' Estimated New Working Capital Amount of the
Company Group as of Nov. 30, 2013.  In accordance with the
methodology prescribed by SPA, AgFeed Industries prepared a
calculation of the estimated adjustment and submitted the
calculation to the purchaser and NTB.  AgFeed was entitled to
additional consideration of $558,431.

At the closing and despite the provisions of the SPA requiring
payment of the estimated adjustment, NTB and the purchaser
indicated that had not sufficient time to analyze the calculation
of the estimated adjustment, and accordingly, were, unwilling to
pay the amount until the time as they were able to verify the
estimated amount.

Despite efforts to resolve the matter, the parties have been
unable to reach a final resolution.

Pursuant to the escrow agreement, the escrowed funds can only be
released upon a written instruction from the parties or upon Court
order.

                      About AgFeed Industries

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

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

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

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

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

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

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

                           *     *     *

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

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

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


ALGO INC: Case Summary & 5 Unsecured Creditors
----------------------------------------------
Debtor: Algo, Inc.
           dba Grant Realty
           dba Grant Development
        2811 E Evergreen Blvd
        Vancouver, WA 98661

Case No.: 14-43837

Chapter 11 Petition Date: July 14, 2014

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

Judge: Hon. Brian D Lynch

Debtor's Counsel: Timothy J. Dack, Esq.
                  TIMOTHY J. DACK
                  1014 Franklin Street, Suite 102
                  PO Box 61645
                  Vancouver, WA 98666
                  Tel: 360-694-4227
                  Email: bkfile@dackoffice.com

Total Assets: $424,900

Total Liabilities: $4.33 million

The petition was signed by Allen R. Grant, president.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/wawb14-43837.pdf


ALLONHILL LLC: Seeks More Time to Decide on Leases
--------------------------------------------------
Allonhill LLC filed a motion with the U.S. Bankrptcy Court seeking
to extend the time for the Debtor to assume or reject any leases,
subleases or other agreements to which the Debtor is a party that
may be considered an unexpired lease of nonresidential property
for 90 additional days, through and including October 22, 2014.

In the Schedules, the Debtor identified two Unexpired Leases to
which it is the lessee: (i) a lease of office space located at
1515 Arapahoe in Denver, Colorado, to which Exclusive Resorts, LLC
is the lessor; and (ii) a lease of office space located at 4700
South Syracuse in Denver, Colorado, to which Guardian/DDC, is the
lessor.  Aside from the Debtor, the only other parties to the
Arapahoe Lease and the Syracuse Lease are Exclusive and Guardian,
respectively.  On April 30, 2014, the Arapahoe Lease terminated
pursuant to its terms. The Syracuse Lease remains in effect.

The 120-day period under section 365(d)(4)(A)(i) of the Bankruptcy
Code within which the Debtor may assume or reject unexpired leases
of nonresidential real property currently expires July 24, 2014.
Pursuant to section 365(d)(4) of the Bankruptcy Code, the Debtor
requests that the Assumption/Rejection Period be extended by 90
days, through and including October 22, 2014.  The requested
extension would be without prejudice to the rights of the Debtor
to seek further extensions of the Assumption/Rejection Period
pursuant to section 365(d)(4)(B)(ii).

Without an extension, the Assumption/Rejection Period will expire
on July 24, 2014.  Following the Stewart Transaction, although the
Syracuse Lease was assigned to Stewart, the Debtor remains a
counterparty to the Syracuse Lease, and, despite the Debtor's best
efforts, Guardian has not confirmed or accepted the lawful
assignment of the Syracuse Lease to Stewart.  Although the Debtor
has taken concrete steps towards resolving this issue, the Debtor
needs additional time to complete this process, either voluntarily
or through the Court process.  To prevent the expiration of the
Assumption/Rejection Period before the resolution of the Syracuse
Lease, the Debtor, pursuant to section 365(b)(4), and out of an
abundance of caution, seeks to extend the Assumption/Rejection
Period.

The Debtor submits that Guardian will not suffer any harm as a
result of the requested extension, because Stewart will continue
to pay rent and occupy the premises in accordance with the
Syracuse Lease.  The extension also will afford the Debtor a
meaningful opportunity to resolve with Guardian the assignment to
Stewart of the Syracuse Lease.

In contrast, not extending the Assumption/Rejection Period will
likely force the Debtor to expend additional costs and resources
to assume and assign to Stewart the Syracuse Lease, which has
already been lawfully done under the Stewart APA.  Any extension
of the Assumption/Rejection Period will provide the Debtor with
additional time to resolve with Guardian the issues relating to
the previous assignment to Stewart of the Syracuse Lease.

                     About Allonhill LLC

Allonhill LLC, a professional services firm based in Denver,
Colorado, that previously provided loan due diligence and credit
risk management services for institutions that invest in, sell,
securitize or service mortgage loans, sought protection under
Chapter 11 of the Bankruptcy Code on March 26, 2014.  The case is
In re Allonhill, LLC, Case No. 14-bk-10663 (Bankr. D. Del.).

The Debtor's General Counsel is HOGAN LOVELLS US LLP.  The
Debtor's Local Counsel is Neil B. Glassman, Esq., Justin R.
Alberto, Esq., and Evan T. Miller, Esq., at BAYARD, P.A., in
Wilmington, Delaware.  Upshot Services LLC serves as the Debtor's
Claims and Noticing Agent.

The Debtor disclosed $19,205,062 in assets and $32,918,294 in
liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, U.S. Trustee for Region 3, notified the
Bankruptcy Court that she was unable to appoint an official
committee of unsecured creditors in the case of Allonhill, LLC.
The U.S. Trustee explained that there were insufficient response
to the communication/contact for service on the committee.


ALLONHILL LLC: Court Authorizes Hiring of W&C as Appellate Counsel
------------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware authorized Allonhill LLC to employ Williams & Connolly
LLP as special appellate counsel.

W&C has served as principal counsel for the Debtor in connection
with the matter of Allonhill, LLC v. Aurora Bank, FSB, No.
12CV6381, District Court, City and County of Denver, Colorado,
since the commencement of the litigation in 2012.  The defendant
in that case filed a counterclaim, and after trial the court
entered a judgment in favor of the defendant in the amount of
$25,845,329.  The Debtor intends to file an appeal, which would be
heard in the Colorado Court of Appeals.  Given W&C's familiarity
with the Debtor's business and the issues presented in the matter
of Allonhill, LLC v. Aurora Bank, FSB, the Debtor believes that
W&C is the best qualified law firm to provide the specialized
legal services sought by the Debtor.

As of the Petition Date, W&C was owed $984,682 by the Debtor in
respect of services provided to the Debtor for which it has not
been paid.

W&C's services will only encompass the following specified
purposes:

   (a) advise the Debtor in connection with the legal aspects of
       the appeal;

   (b) prepare on behalf of the Debtor all necessary briefs,
       motions, applications, orders, reports and other papers in
       connection with the appeal;

   (c) represent the Debtor at hearings and oral arguments on the
       appeal, and protect the interests of the Debtor; and

   (d) perform any other necessary legal services in connection
       with the prosecution of the appeal.

The current hourly rates applicable to the principal attorneys,
paralegals, and professionals proposed to represent the Debtor
are:

     Philip Ward, Esq.            $810
     David Aufhauser, Esq.        $735
     Stephen Andrews, Esq.        $665
     Ryan McCarthy, Esq.          $550
     Andrew Elliott, Esq.         $525
     Debbie Cackowoski, Esq.      $335
     Paralegal                    $205

Other attorneys, paralegals, and professionals will render
services as needed.  W&C's current hourly rates for the matter
range from $810 to $665 per hour for partners and $550 to $525 per
hour for associates.  The firm will also seek reimbursement of
necessary out-of-pocket expenses.

Stephen Andrews, Esq., a partner of the firm of Williams &
Connolly LLP, in Washington, D.C., assures the Court that his firm
is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

                       About Allonhill LLC

Allonhill LLC, a professional services firm based in Denver,
Colorado, that previously provided loan due diligence and credit
risk management services for institutions that invest in, sell,
securitize or service mortgage loans, sought protection under
Chapter 11 of the Bankruptcy Code on March 26, 2014.  The case is
In re Allonhill, LLC, Case No. 14-bk-10663 (Bankr. D. Del.).

The Debtor's General Counsel is HOGAN LOVELLS US LLP.  The
Debtor's Local Counsel is Neil B. Glassman, Esq., Justin R.
Alberto, Esq., and Evan T. Miller, Esq., at BAYARD, P.A., in
Wilmington, Delaware.  Upshot Services LLC serves as the Debtor's
Claims and Noticing Agent.

The Debtor disclosed $19,205,062 in assets and $32,918,294 in
liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, U.S. Trustee for Region 3, notified the
Bankruptcy Court that she was unable to appoint an official
committee of unsecured creditors in the case of Allonhill, LLC.
The U.S. Trustee explained that there were insufficient response
to the communication/contact for service on the committee.


ALLONHILL LLC: Can Tap Haddon as Special Appellate Counsel
----------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware authorized Allonhill LLC to employ Haddon, Morgan, and
Foreman, P.C., as special appellate counsel.

Haddon Morgan as a firm and Norm Mueller in particular have
extensive experience and expertise in appellate litigation in
state courts in Colorado.  Given Mr. Mueller's familiarity with
appellate litigation in the state courts of Colorado, the Debtor
believes that Mr. Mueller is the best qualified attorney and
Haddon Morgan is the best qualified law firm to provide the
specialized legal services as local counsel and specialist in
Colorado appellate litigation, especially in the action styled
Allonhill, LLC v. Aurora Bank, FSB, No. 12CV6381, District Court,
City and County of Denver, Colorado.

Haddon's services will only encompass the following specified
purposes:

   (a) advise the Debtor in connection with the legal aspects of
       an appeal in the Debtor's Colorado Action;

   (b) prepare on behalf of the Debtor all necessary briefs,
       motions, applications, orders, reports and other papers in
       connection with the appeal;

   (c) represent the Debtor at hearings and oral arguments on the
       appeal, and protect the interests of the Debtor; and

   (d) perform any other necessary legal services in connection
       with the prosecution of the appeal.

Mr. Mueller's current hourly rate is $450.  Haddon Morgan's
currently hourly rates for the matter range from $425 to $550 per
hour for partners and $315 and $325 per hour for associates.  The
firm will also seek reimbursement of necessary out-of-pocket
expenses.

Mr. Mueller, a partner of the firm of Haddon, Morgan & Foreman,
P.C., in Denver, Colorado, assures the Court that his firm is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not represent any interest adverse
to the Debtors and their estates.

                       About Allonhill LLC

Allonhill LLC, a professional services firm based in Denver,
Colorado, that previously provided loan due diligence and credit
risk management services for institutions that invest in, sell,
securitize or service mortgage loans, sought protection under
Chapter 11 of the Bankruptcy Code on March 26, 2014.  The case is
In re Allonhill, LLC, Case No. 14-bk-10663 (Bankr. D. Del.).

The Debtor's General Counsel is HOGAN LOVELLS US LLP.  The
Debtor's Local Counsel is Neil B. Glassman, Esq., Justin R.
Alberto, Esq., and Evan T. Miller, Esq., at BAYARD, P.A., in
Wilmington, Delaware.  Upshot Services LLC serves as the Debtor's
Claims and Noticing Agent.

The Debtor disclosed $19,205,062 in assets and $32,918,294 in
liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, U.S. Trustee for Region 3, notified the
Bankruptcy Court that she was unable to appoint an official
committee of unsecured creditors in the case of Allonhill, LLC.
The U.S. Trustee explained that there were insufficient response
to the communication/contact for service on the committee.


ALLONHILL LLC: Can Hire EKS&H as Tax Accountant, Auditor
--------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware authorized Allonhill LLC to employ EKS&H LLLP as tax
accountant and auditor.

EKS&H's services will include the following: (a) provide Dec. 31,
2013, and stub period 2014 closing employee benefit plan audits;
(b) prepare tax extensions for the 2013 taxes; and (c) prepare
2013 federal and state returns related to the taxes.

EKS&H's current hourly rates range from $150 per hour for staff
and $410 per hour for partners.  The firm will also seek
reimbursement of expenses incurred in its representation of the
Debtor.

During the one-year period prior to the Petition Date, EKS&H
provided services for the Debtor, and the Debtor paid EKS&H the
amount of $70,660 in fees.  As of the Petition Date, EKS&H was
owed approximately $3,000 by the Debtor for services invoiced in
February 2014.

Brad McQueen, a certified public accountant and a partner of the
firm of EKS&H LLLP, assures the Court that his firm is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not represent any interest adverse
to the Debtors and their estates.  Mr. McQueen, however, discloses
that his firm performed, currently performs, and in the future may
perform Accuvant, Intellisource, LLC, Margaret Sue Allon,
MeetingOne Conferencing, and Stewart Lender Services, in matters
unrelated to the bankruptcy case.

                       About Allonhill LLC

Allonhill LLC, a professional services firm based in Denver,
Colorado, that previously provided loan due diligence and credit
risk management services for institutions that invest in, sell,
securitize or service mortgage loans, sought protection under
Chapter 11 of the Bankruptcy Code on March 26, 2014.  The case is
In re Allonhill, LLC, Case No. 14-bk-10663 (Bankr. D. Del.).

The Debtor's General Counsel is HOGAN LOVELLS US LLP.  The
Debtor's Local Counsel is Neil B. Glassman, Esq., Justin R.
Alberto, Esq., and Evan T. Miller, Esq., at BAYARD, P.A., in
Wilmington, Delaware.  Upshot Services LLC serves as the Debtor's
Claims and Noticing Agent.

The Debtor disclosed $19,205,062 in assets and $32,918,294 in
liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, U.S. Trustee for Region 3, notified the
Bankruptcy Court that she was unable to appoint an official
committee of unsecured creditors in the case of Allonhill, LLC.
The U.S. Trustee explained that there were insufficient response
to the communication/contact for service on the committee.


ALLY FINANCIAL: Moody's Affirms Ba3 CFR & B1 Sr. Unsecured Rating
-----------------------------------------------------------------
Moody's Investors Service affirmed the Ba3 corporate family and B1
senior unsecured ratings of Ally Financial, Inc. and revised the
outlook for the ratings to positive from stable.

Ratings Rationale

Moody's affirmed Ally's ratings and revised its rating outlook to
positive based on the company's progress toward sustained
improvements in profitability and repayment of government
assistance received during the financial crisis.

Ally's operating performance is improving, driven by lower
borrowing and operating costs. Ally's liability management actions
and continued transition to deposit funding have lowered the
firm's cost of funds and strengthened its net interest margin,
which measured 2.53% for the first quarter of 2014, up from 2.07%
one year earlier. Moody's expects that Ally's margins will
continue to benefit from repayment of higher-cost indebtedness and
growth in deposits, though competitive pressure on assets yields
represents a headwind. The company's efforts to streamline its
business resulted in a $70 million year-over-year reduction in
controllable expenses in the first quarter, leading to an adjusted
efficiency ratio of 55%, down from 64% for 2013. Ally is working
to achieve additional efficiency gains that Moody's expects will
result in a further improvement to the company's operating
performance.

Ally has made significant progress repaying government support. In
January, the U.S. Treasury privately placed $3 billion of Ally
common stock and in April, Ally completed a $2.6 billion IPO on
the NYSE. To date, the U.S. government has received $17.8 billion
on its $17.2 billion extension of aid to Ally during the financial
crisis. The U.S. Treasury's equity stake in Ally was reduced to
16% after the transactions. The share sales and IPO expanded and
diversified Ally's investor base which, in Moody's view,
contributes to improved access to capital, governance and
transparency. Moody's expects that Ally will maintain good capital
discipline as it pursues strategies to provide higher returns to
shareholders.

Ally's ratings and outlook are supported by its position as a
leading provider of U.S. dealer and retail auto finance, its
effective liquidity management and adequate capitalization. A
credit concern is strong competition that could potentially weaken
Ally's franchise positioning and underwriting discipline. Bank and
captive finance competitors have already eroded Ally's penetration
of GM and Chrysler dealer financing and its financing share of GM
and Chrysler retail auto sales. Ally has diversified its
originations to include more leasing and used car lending, and it
has modestly expanded lower credit-tier originations, helping to
both drive volumes and preserve average asset yields. However,
Moody's expects that these shifts in origination mix will lead to
higher credit losses over time.

Ally's rating could be upgraded if the company sustainably
strengthens profitability (toward a 1% return on assets) while
demonstrating disciplined underwriting and maintaining strong
franchise positioning, and maintains adequate liquidity and
capital levels (at least 9% tangible common equity/tangible
managed assets).

Ratings could be downgraded if Ally reports a material
deterioration in asset quality performance and profitability, or a
materially weakened capital or liquidity profile.

Ally Financial Inc. is a provider of automotive financial services
with $148 billion in total assets at March 31, 2014. Subsidiary
Ally Bank offers a variety of savings and checking account
products.

Affirmed:

Ally Financial Inc.:

Corporate family rating, Ba3

Issuer rating, B1

Senior unsecured, B1

Senior unsecured Medium-Term Note program, (P)B1

Senior unsecured shelf, (P)B1

Subordinate debt, B2

Preferred stock, a range of Caa1(hyb) to B3(hyb)

Short-term debt, a range of (P)NP to NP

GMAC Capital Trust I:

Preferred Stock, B3(hyb)

GMAC International Finance B.V.:

Senior Unsecured, B1

Senior unsecured Medium-Term Note program, a range of (P)NP to
(P)B1

The principal methodology used in this rating was Finance Company
Global Rating Methodology published in March 2012.


AMERICAN APPAREL: Arbitration Clauses Let Retailer Hide Misconduct
------------------------------------------------------------------
Steven Davidoff Solomon, writing for The New York Times' DealBook,
reported that American Apparel's arbitration clauses allowed it to
hide its founder's alleged misconduct.

According to the DealBook, the company required that all employees
sign agreements requiring them to arbitrate any disputes,
including sexual harassment claims.  The purpose of these clauses
was to ensure that any dispute was kept quiet and protect the
company from excessive damages, the report said.  Moreover,
employees were also contractually barred from disparaging or
otherwise say anything bad about Dov Charney or American Apparel,
the DealBook added.

                       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.


ARTURO J. GONZALEZ: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Arturo J. Gonzalez P.C.
        2120 Capitol St., Ste 3339
        Houston, TX 77003

Case No.: 14-33888

Chapter 11 Petition Date: July 14, 2014

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Jeff Bohm

Debtor's Counsel: Reese W Baker, Esq.
                  BAKER & ASSOCIATES
                  5151 Katy Freeway, Ste 200
                  Houston, TX 77007
                  Tel: 713-869-9200
                  Fax: 713-869-9100
                  Email: courtdocs@bakerassociates.net

Estimated Assets: $50,000 to $100,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Arturo J. Gonzalez, president.

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


ASHLEY STEWART: Plan Exclusivity Period Extended Until Nov. 4
-------------------------------------------------------------
Ashley Stewart Holdings Inc. sought and obtained permission from
the U.S. Bankruptcy Court to (i) extend the period within which
the Debtors have the exclusive right to file a plan or plans of
reorganization and (ii) extend the period within which the Debtors
have the exclusive right to solicit acceptance of any plan.

The Debtors' Exclusive Filing Period is extended through and
including November 4, 2014, without prejudice to the Debtors'
right to seek further extensions thereof.  The Debtors' Exclusive
Solicitation Period is extended through and including January 2,
2015, without prejudice to the Debtors' right to seek further
extensions thereof.

                      About Ashley Stewart

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

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

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

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


ASTON ESCROW: S&P Assigns 'B' CCR & Rates $440MM Secured Notes 'B'
------------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B'
corporate credit rating to Horsham, Pa.-based Aston Escrow Corp.
The outlook is stable.

S&P also assigned a 'B' issue-level rating and '4' recovery rating
to Aston Escrow Corp.'s $440 million senior secured notes due
2021.  The '4' recovery rating indicates S&P's expectation for
"average" (30% to 50%) recovery of principal in the event of
payment default.  The proposed privately placed notes, along with
a common equity contribution from private equity sponsor Platinum
Equity Advisors, will fund the purchase of Transworld Systems
Inc., a business processing outsourcing (BPO) and accounts
receivable management (ARM) business, from Expert Global Solutions
Inc.  Subsequent to the expected September 2014 acquisition of
Transworld Systems Inc., Aston Escrow Corp. will merge with, and
into, the surviving entity, Transworld Systems Inc. (TSI).

TSI is a leading North American provider of BPO and outsourced
ARM. TSI's key ARM segment provides a continuum of accounts
receivable services including customer billing, delinquent account
collection, and recovery of charged-off delinquent accounts.  The
company generates revenues from fixed and contingency fees based
on the amount of recovery; it does not purchase the debt
obligation.  Key customer groups are education, government, legal,
and health care and commercial.

"The ratings on Aston Escrow Corp. recognize significant
competition for TSI's outsourced ARM services and the potential
for regulatory and pricing pressures that could weaken margins,"
said Standard & Poor's credit analyst Richard Siderman.

The stable outlook incorporates S&P's expectation that Aston
Escrow Corp.'s ARM business is positioned to take advantage of
growing outstanding accounts receivable and leverage its systems
and expertise to mitigate potential regulatory changes or lower
commissions that could pressure margins.

Policy changes at the DOE to markedly increase its number of ARM
vendors or reduce commission rates, or a loss of a major client
could result in an unfavorable revision of S&P's business risk
assessment to "vulnerable" and result in a rating downgrade.

Private equity ownership constrains improvement in the company's
"highly leveraged" financial risk profile.  A rating upgrade,
therefore, would result from a significant improvement in S&P's
view of the company's business risk profile, a reassessment that
S&P believes is not likely over the year.


ATLS ACQUISITION: Has Until Aug. 30 to Decide on Unexpired Leases
-----------------------------------------------------------------
At the behest of ATLS Acquisition, LLC, the Bankruptcy Court
extended until Aug. 30, 2014, the Debtor's deadline to assume or
reject unexpired leases of nonresidential real property pursuant
to Section 365(a)(4) of the Bankruptcy Code.

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.

                      About Liberty Medical

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

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

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

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


BAPTIST HOME: Has Aug. 15 Auction of Assets
-------------------------------------------
Judge Eric L. Frank of the U.S. Bankruptcy Court for the Eastern
District of Pennsylvania approved the bidding procedures governing
the sale of the assets of The Baptist Home of Philadelphia, d/b/a
Deer Meadows Retirement Community, et al., and scheduled an
auction on Aug. 15, 2014, if at least one qualified bid, other
than the stalking horse bidder's qualified bid, is received.

Bids are due Aug. 8.  The sale hearing is scheduled to be held on
Aug. 27, at 10:00 a.m.  Objections to the proposed sale and
objections relating to the assumption and assignment of executory
contracts and/or unexpired leases must be submitted on or before
Aug. 25.

Judge Frank also approved a settlement agreement among the
Debtors, U.S. Bank National Association, as indenture trustee,
Beneficial Mutual Savings Bank, and the Official Committee of
Unsecured Creditors.  The agreement provides the terms of a plan
dividing proceeds from the sale of the Debtors' assets.  In return
for agreement on senior creditors' claims, $750,000 is carved out
for unsecured creditors, Bill Rochelle, the bankruptcy columnist
for Bloomberg News, said.  In addition, if the sale is for more
than $19 million, unsecured creditors receive 5 percent on a
sliding scale reaching 7 percent if the price is more than $22
million.

              About The Baptist Home of Philadelphia

The Baptist Home of Philadelphia and The Baptist Home Foundation
sought Chapter 11 protection (Bankr. E.D. Pa. Case Nos. 14-13305
and 14-13306) in Philadelphia on April 25, 2014.

Baptist Home of Philadelphia is a Pennsylvania nonprofit
corporation that owns and operates a continuing care retirement
community known as "Deer Meadows Retirement Community", which is
located at 8301 Roosevelt Boulevard, Philadelphia, Pennsylvania.
Home offers 126 living accommodations, which vary in size, for
independent living and personal care.  It presently also has 206
skilled nursing beds in the nursing and rehabilitation center that
offers short and long term care.  It has 369 employees.

Baptist Home of Philadelphia disclosed $37,330,904 in assets and
$34,562,834 in liabilities as of the Chapter 11 filing.

The Debtors have tapped Cozen O'Connor as counsel and KPMG
Corporate Finance LLC as financial advisor and investment banker.

The U.S. Trustee appointed Wilmarie Gonzalez as patient care
ombudsman.

U.S. Bank National Association, the trustee with regard to the
secured bond indebtedness, hired Reed Smith LLP as counsel and
CohnReznick LLP as financial advisor.

Pepper Hamilton LLP represents the Official Committee of Unsecured
Creditors.


BANESCO USA: Fitch Affirms 'B+' Long-term Issuer Default Rating
---------------------------------------------------------------
Fitch Ratings has affirmed the Long-and Short-term IDRs of Banesco
USA (BNSC) at 'B+/B', respectively. The Rating Outlook is Stable.

Key Rating Drivers - IDRs, VR

BNSC's IDRs are currently constrained by low levels of
profitability, its geographic and product concentration to the
South Florida CRE market, and exposure to non-domestic credit
markets. Conversely, the capital base and stable funding profile
provide support to the credit profile and ratings. Although credit
performance has remained solid over the past seven quarters and
dramatically improved since the financial crisis, asset quality
indicators may be benefitting from the rapid loan portfolio growth
BNSC has experienced since 2011.

BNSC remained profitable during 2013, although earnings have
trended downward since 2011 and are considered a key rating
constraint. BNSC reported an ROA of just 33bps in 2013. Earnings
were constrained by very high operating expenses due to elevated
levels of personnel and occupancy expenses associated with hiring
executive level and BSA related employees during 2013. Fitch
expects that operating costs are likely to continue to constrain
earnings potential in the near term as additional costs associated
with the BSA remediation program will weigh heavily on earnings
throughout 2014. Fitch also expects the NIM to decline in the near
term due to the diminishing impact of discount accretion related
to the purchase of loans from Security Bank N.A in 2012.

Fitch considers BNSC's credit risk profile to be reflective of the
rating. The company has exhibited strong growth, particularly in
CRE and commercial credits, in recent years. Moreover, Fitch also
considers BNSC to be product and geographically concentrated as
CRE represents 400% of capital and is mainly in the Miami-Dade
MSA. While the South Florida CRE market has exhibited slowly
stabilizing real estate values, the office real estate sector,
which is a sizeable portion of the CRE portfolio, has not
exhibited any material level of recovery.

Fitch also remains concerned about BNSC's increasing exposure to
commercial and CRE credits in Puerto Rico due to the
commonwealth's fragile economy and recessionary climate.
Additional credit risk considerations include the effects of
sovereign risk in the international loan portfolio which makes up
approximately 11% of total loans. Over half of the international
portfolio consists of exposure to borrowers in Venezuela and is
mainly secured by residential, and to a lesser extent CRE
properties in South Florida. Although economic instability remains
a concern in Venezuela, credit risk is offset by the strong level
of collateral protection and prudent non-resident credit
underwriting standards.

BNSC's credit quality has improved. Asset quality indicators
compare positively to that of similarly rated peers; however,
Fitch believes the measures may be understated given that the
portfolio is relatively unseasoned due to level of loan growth in
recent years. In the first quarter of 2014, total nonperforming
assets (inclusive of accruing TDRs) have declined to 277 bps of
loans and foreclosed real estate through a combination of pay
downs, loan sales and workout strategies, while NCOs have averaged
three bps of loans over the past four quarters. These measures are
well below the peak levels experienced during the financial crisis
of roughly 9.83% and 1.80%, respectively.

BNSC's credit rating benefits from a solid capital structure. As
of year-end 2013, the company's Fitch core capital/risk-weighted
assets ratio was 13.37% and its tangible common equity/tangible
assets ratio was 9.4%. Fitch considers the capital base sufficient
to support risks within the business mix; however, further balance
sheet growth coupled with limited profitability have the potential
to adversely impact capital ratios. Moreover, the lack of access
to external capital is considered a rating constraint.

Fitch views BNSC's funding profile favorably. The funding
structure is largely core deposit driven, and benefits from a high
volume of international deposits which make up 61% of total
deposits. The majority of international funding is sourced from
Venezuelan depositors who have turned to U.S. banks as a safe
haven. These deposits typically have a very low attrition rate,
limited rate sensitivity and provide a stable source of low cost
funding. In an effort to reduce reliance on Venezuelan funding,
management has been working to grow domestic deposits in
conjunction with loan growth. Fitch views the diversification of
funding sources positively. Although the loan portfolio has grown
significantly since 2011, balance sheet leverage remains below
peer levels as loans makeup 75.5% of deposits. Furthermore, BNSC
maintains a high level of liquid assets to support immediate cash
needs. Fitch believes BNSC is well positioned to maintain its
liquidity position, fund impending growth/runoff and address any
potential shortfalls in the normal course of business.

Fitch views BNSC's relationship with the Banesco Group positively.
The brand affiliation has supported BNSC's deposit raising efforts
and also provides a more sophisticated risk management
infrastructure which is comparable to larger institutions.

The Stable Outlook reflects BNSC's stable credit performance and
lowered growth expectations in light of the shift in strategy
toward addressing issues related to BSA/AML oversight. Going
forward, management anticipates controlled growth in key business
segments with no expectations for further acquisitions over the
near-term.

Rating Sensitivities - IDRs, VR

Sustained and improved profitability combined with the maintenance
of strong credit performance and credit profit would be considered
positive rating drivers.

Given BNSC's ratings are relatively low on the rating scale, Fitch
does not envision much downward rating pressure. However, ratings
could be negatively affected if BNSC continues to grow in high
risk lending segments, in excess of manageable levels or if Fitch
believes that growth is a result of compromised underwriting.
Considering the recent trends and updated growth plans, Fitch
considers this a relatively low likelihood.

Fitch notes that there is risk in Venezuelan depositors seeking
other U.S. based-banking institutions to deposit their monies in
the event of concern regarding BNSC or the Banesco Group. However,
to date, BNSC has actually benefited from its association with the
Banesco brand, despite volatility in Venezuela, as demonstrated by
its stable deposit base. Nonetheless, BNSC's ratings may be
vulnerable to changing depositor behavior, if Banesco Group itself
were the subject of concern.

Key Rating Drivers - Support Rating And Support Rating Floor

BNSC has a Support Rating of '5' and Support Rating Floor of 'NF'.
In Fitch's view, BNSC is not systemically important and therefore,
the probability of support is unlikely. The IDRs and VRs do not
incorporate any support. Historically, BNSC's principal
shareholders have demonstrated a willingness to provide capital;
however, Fitch's rating analysis does not assume capital support
from the shareholders

Rating Sensitivities - Support Rating and Support Rating Floor

BNSC's Support Rating and Support Rating Floor are sensitive to
Fitch's assumption around capacity to procure extraordinary
support in case of need.

Key Rating Drivers - Long And Short-Term Deposit Ratings

BNSC's uninsured deposit ratings are rated one notch higher than
the company's IDR because U.S. uninsured deposits benefit from
depositor preference. U.S. depositor preference gives deposit
liabilities superior recovery prospects in the event of default.

Rating Sensitivities - Subordinated Debt And Other Hybrid
Securities

The ratings of long- and short-term deposits issued by BNSC are
primarily sensitive to any change in BNSC's long- and short-term
IDRs.

Fitch affirms the following ratings:

Banesco USA (BNSC)

-- Long-term IDR at 'B+'; Outlook Stable;
-- Short-term IDR at 'B';
-- Long-term deposits at 'BB-';
-- Short-term deposits at 'B';
-- Viability at 'b+';
-- Support at '5';
-- Support Floor at 'NF'.


BERNARD L. MADOFF: Ruling Blocks Risky Expansion Of Bankruptcy Law
------------------------------------------------------------------
Law360 reported that U.S. District Judge Jed Rakoff's decision to
save foreign investment funds from disgorging earnings from the
Bernard L. Madoff fraud rejected an unprecedented attempt to
expand U.S. bankruptcy law across borders and ensured that
international investors have little to fear from defunct U.S.
firms' liquidating trustees, attorneys say.

Judge Rakoff's decision, according to Bill Rochelle, the
bankruptcy columnist for Bloomberg News, which bars the trustee
for Bernard L. Madoff Investment Securities LLC from filing suit
in the U.S. against foreign investors who got stolen money through
so-called offshore feeder funds, further dims hopes by victims of
Madoff's fraud that they will ever recover all $17 billion they
invested in his Ponzi scheme.

The judge rejected Picard's argument based on the provision in
U.S. bankruptcy law giving the trustee title to property "wherever
located" and said fraudulently transferred property isn't "estate
property" until after it's recovered, concluding that
congressional intent for the trustee to sue foreigners in the U.S.
isn't shown by the definition of estate property, Mr. Rochelle
related.

Judge Rakoff's decision was made in In re Bernard L. Madoff
Investment Securities LLC, 12-mc-00115, U.S. District Court,
Southern District of New York (Manhattan).

                     About Bernard L. Madoff

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

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

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

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

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

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

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


BRINX RESOURCES: Reports $109K Net Loss in April 30 Quarter
-----------------------------------------------------------
Brinx Resources Ltd. filed its quarterly report on Form 10-Q,
disclosing a net loss of $109,605 on $20,952 of natural gas and
oil sales for the three months ended April 30, 2014, as compared
with a net loss of $136,019 on $58,182 of natural gas and oil
sales for the same period in 2013.

The Company's balance sheet at April 30, 2014, showed $1.48
million in total assets, $46,086 in total liabilities, and
stockholders' equity of $1.44 million.

The Company has incurred a net loss of $1.4 million since
inception.  To achieve profitable operations, the Company requires
additional capital for obtaining producing oil and gas properties
through either the purchase of producing wells or successful
exploration activity.  Management believes that sufficient funding
will be available to meet its business objectives including
anticipated cash needs for working capital and is currently
evaluating several financing options.  However, there can be no
assurance that the Company will be able to obtain sufficient funds
to continue the development of its properties and, if successful,
to commence the sale of its projects under development.  As a
result of the foregoing, there exists 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 at:

                       http://is.gd/GXqlxG

Headquartered in Albuquerque, New Mexico, Brinx Resources Ltd.
(OTC BB: BNXR.OB) -- http://www.brinxresources.com/-- is an
expanding exploration company focused on developing North American
oil and natural gas reserves.

The company's current focus is on the continued exploration and
development of its land portfolio comprised of working interests
in the Owl Creek Project located in McClain County, Oklahoma (50%
interest), the Three Sands Project located in Noble County,
Oklahoma (40% interest), and its newest interest in its
Mississippi Prospect in Palmetto Point (10% interest).


BRITISH AMERICAN: Fraudulent Transfer Claims Kept Alive In RE Suit
------------------------------------------------------------------
Law360 reported that a Florida federal judge kept alive fraudulent
transfer claims brought by Caribbean insurer British American
Insurance Co. Ltd. and a subsidiary against former directors over
unsuccessful real estate transactions in Florida that allegedly
led to the companies' Chapter 15 insolvency.  According to the
report, U.S. District Judge James I. Cohn, in adopting the
Southern District bankruptcy court's recommendations, rejected
arguments made by defendants Green Island Holdings LLC, Charles
Pratt, Peter Krieger and Voyager Development LLC.

                           About BAICO

British American Insurance Company is a Nassau, Bahamas-based
insurance and financial services company.  BAIC is owned by
Trinidad-based parent CL Financial.  BAIC listed debt of $500
million to $1 billion and assets of more than $100 million in its
Chapter 15 petition (Bankr. S.D. Fla. Case No. 09-3588).

By order entered Aug. 4, 2009, the Eastern Caribbean Supreme Court
in the High Court of Justice Saint Vincent and the Grenadines
appointed Brian Glasgow as Judicial Manager for BAICO under
Section 52 of the Insurance Act, No. 45 of 2003 of the Laws of
Saint Vincent and the Grenadines.


BURCON NUTRASCIENCE: PwC LLP Raises Going Concern Doubt
-------------------------------------------------------
Burcon NutraScience Corporation filed with the U.S. Securities and
Exchange Commission its annual report on Form 40-F for the fiscal
year ended March 31, 2014.

PricewaterhouseCoopers LLP expressed substantial doubt about the
Company's ability to continue as a going concern, citing that the
Company had only minimal revenues from its technology, had an
accumulated deficit of C$64.4 million and had relied on equity
financings, private placements, rights offerings and other equity
transactions to provide the financing necessary to undertake its
research and development activities.  At March 31, 2014, the
Company had cash and cash equivalents of C$1.39 million.

The Company reported a net loss of C$5.96 million on C$94,724 of
royalty income for the fiscal year ended March 31, 2014, compared
with a net loss of C$5.54 million on C$30,309 of royalty income in
2013.

The Company's balance sheet at March 31, 2014, showed C$5.12
million in total assets, C$799,671 in total liabilities, and
stockholders' equity of C$4.32 million.

A copy of the Form 40-F is available at:

                       http://is.gd/25BNKq

Headquartered in Vancouver, Canada, Burcon NutraScience
Corporation has developed a portfolio of composition, application,
and process patents originating from its core protein extraction
and purification technology.  The Company's patented processes
utilize inexpensive oilseed meals and other plant-based sources
for the production of purified plant proteins that exhibit certain
nutritional, functional and nutraceutical profiles.


CABEL PROPERTIES: Files List of 20 Largest Unsecured Creditors
--------------------------------------------------------------
Cabel Properties LLC filed its list of creditors holdings 20
largest unsecured claims.  A full-text copy of the list is
available for free at http://is.gd/On3p6I

                     About Cabel Properties

Cabel Properties, LLC, filed a Chapter 11 petition (Bankr. M.D.
Pa. Case No. 14-02370) in Wilkes-Barre, Pennsylvania, on May 20,
2014.  The Debtor estimated assets of $10 million to $50 million
and debt of $50,000 to $100,000.  Judge John J Thomas oversees the
case.  The Tafton, Pennsylvania-based company is represented by
Jeffrey D Kurtzman, Esq., at Klehr, Harrison, Harvey, Branzburg
LLP, in Philadelphia, as counsel.


CABEL PROPERTIES: Files Schedules of Assets and Liabilities
-----------------------------------------------------------
Cabel Properties LLC filed its schedules of assets and
liabilities, disclosing total assets of $22,000,000, and total
liabilities of $24,201,798.  A full-text copy of the schedules is
available for free at http://is.gd/6hXwvw

                     About Cabel Properties

Cabel Properties, LLC, filed a Chapter 11 petition (Bankr. M.D.
Pa. Case No. 14-02370) in Wilkes-Barre, Pennsylvania, on May 20,
2014.  The Debtor estimated assets of $10 million to $50 million
and debt of $50,000 to $100,000.  Judge John J Thomas oversees the
case.  The Tafton, Pennsylvania-based company is represented by
Jeffrey D Kurtzman, Esq., at Klehr, Harrison, Harvey, Branzburg
LLP, in Philadelphia, as counsel.


CABEL PROPERTIES: Seeks to Assume 2009 Purchase Agreement
---------------------------------------------------------
Cabel Properties LLC asks the Hon. John J. Thomas of the U.S.
Bankruptcy Court for the Middle District of Pennsylvania for
permission to assume a purchase agreement dated Jan. 26, 2009, as
modified, with Middle Creek Quarry Inc.

On Jan. 26, 2009, Middle Creek entered into an agreement with the
Debtor to manage the property located on Owego Turnpike, Palmyra
Township in Wayne County, Pennsylvania.  On May 2, 2013, the
sellers George Cabel, Cabel Associates and the Debtor entered into
a mutual release agreement, wherein the sellers agreed to convey
the property to the Debtor in consideration of the Debtor's
payment of a "final release price" of $550,000.

Additionally, the sellers acknowledged that, between the execution
of the purchase agreement in 2009, and the execution of the mutual
release agreement in May 2013, Mr. Cabel and affiliates had
conferred value for the benefit of the sellers in the amount of
$22,000,000.

The purpose of the mutual release agreement was therefore to
quantify the extent of the Debtor's remaining obligation to the
sellers and to specify the remaining conditions precedent to the
seller's conveyance of the property to the Debtor.

                     About Cabel Properties

Cabel Properties, LLC, filed a Chapter 11 petition (Bankr. M.D.
Pa. Case No. 14-02370) in Wilkes-Barre, Pennsylvania, on May 20,
2014.  George P. Cabel signed the petition as managing member.
The Debtor estimated assets of $10 million to $50 million and
debts of $50,000 to $100,000.  Judge John J Thomas oversees the
case.  The Tafton, Pennsylvania-based company is represented by
Jeffrey D Kurtzman, Esq., at Klehr, Harrison, Harvey, Branzburg
LLP, in Philadelphia, as counsel.


CARDTRONICS INC: S&P Affirms 'BB+' Corp. Credit Rating
------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB+'
corporate credit rating on Houston-based Cardtronics Inc.  The
outlook is stable.

At the same time, S&P assigned 'BB+' issue-level ratings and '3'
recovery ratings to the company's proposed $250 million senior
unsecured notes due 2022 and its existing $287.5 million 1%
convertible senior notes due 2020.  The '3' recovery rating
indicates S&P's expectation of meaningful (50%-70%) recovery in
the event of payment default.  S&P also assigned a 'BBB' issue-
level rating and '1' recovery rating to the company's $375 million
revolving credit facility due 2019.  The '1' recovery rating
indicates S&P's expectation of very high (90%-100%) recovery in
the event of payment default.

"The rating on Cardtronics reflects our assessment of the
company's 'fair' business risk profile, based on our view of its
positive revenue and EBITDA growth prospects," said Standard &
Poor's credit analyst Jenny Chang.

The rating also reflects S&P's view of the company's
"intermediate" financial risk profile, based on its expectation
that the company will maintain leverage below 3x over the coming
year.

S&P's "fair" business risk profile assessment reflects
Cardtronics' leadership position as an ATM service provider, with
low earnings volatility, but also its still relatively limited
product and geographic diversity, material customer concentration
(the top five clients accounted for about 41% of revenues at
Dec. 31, 2013), and strong competition from financial institutions
and alternative electronic and digital payment technologies.
S&P's business risk assessment also incorporates its view of the
technology services industry's "intermediate" risk and the
company's "very low" country risk.  Additionally, S&P revised its
assessment of the company's management and governance to
"satisfactory" from "fair" to reflect its positive view of
management's considerable expertise and experience in operating
its major lines of business.

S&P's stable rating outlook reflects its expectation that the
company will continue to post solid revenue growth while
maintaining EBITDA margins at current levels and a moderate
financial policy.

Given Cardtronics' improving geographic diversification and steady
consumer demand for cash transactions, a downgrade is unlikely
over the coming year.  However, S&P could lower the rating if the
company were to adopt a more aggressive financial policy that
causes leverage to sustain above 3x.

Considering Cardtronics' material client concentration and
adequate scale, an upgrade is unlikely over the coming year.
However, S&P could raise the rating over the longer term if the
company can continue to diversify revenue sources, increase scale,
and reduce and sustain leverage at 2x or below.


CHARLOTTE RUSSE: S&P Revises Outlook to Pos. on Stock Redemption
----------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
specialty apparel retailer Charlotte Russe Inc. to positive from
stable.  At the same time, S&P affirmed all ratings, including the
'B' corporate credit rating.

"The outlook revision reflects the company's lower debt levels
following the redemption of a portion of preferred stock issues
that we treated as debt," said Standard & Poor's credit analyst
Tobias Crabtree.  "We believe continued revenue and EBITDA gains
along with lower debt levels could lead to improvements in credit
measures over the next several quarters.  The company's financial
sponsor ownership, potential for additional debt-financed
dividends, and a cautious consumer outlook tempers an upgrade at
this time."

Charlotte Russe's business risk profile reflects its participation
in the highly competitive and widely fragmented specialty and fast
fashion apparel retail segment.  Although the company is a
national retailer, it is much smaller than many of its peers.  In
S&P's view, the company has some brand recognition in its segment,
and its value proposition resonates well with consumers given
S&P's cautious consumer spending outlook.  S&P notes that the
company's operating efficiency metrics, while improving, remain
below other rated specialty and fast fashion apparel peers.

S&P's view of the company's financial risk profile includes its
financial policies that favor debt, given its financial sponsor
ownership.


CHINA NATURAL: Alan Nisselon Named Interim Trustee
--------------------------------------------------
Alan Nisselson, Esq., has been selected as the interim trustee for
the case of China Natural Gas, Inc.

Mr. Nisselson can be reached at:

         Alan Nisselson, Esq.
         WINDELS MARX LANE & MITTENDORF, LLP
         156 West 56th Street
         New York, NY 10019
         Tel: (212) 237-1000
         Fax: (212) 262-1215

                       About China Natural

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

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

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

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

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


CLEAREDGE POWER: Signs Doosan to $48 Million Contract
-----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that ClearEdge Power Inc., a producer of fuel cells,
signed a contract where Doosan Corp. will kick off an auction on
July 9 with a bid of about $48 million.

According to the report, the July 9 auction will be followed by a
hearing on July 11 for approval of sale to the prevailing bidder.
The report said Doosan's purchase price includes $12.9 million in
assumption of debt, while the remainder of the price is for assets
subject to liens of secured creditors.

                      About ClearEdge Power

Sunnyvale, California-based ClearEdge Power Inc. and two other
affiliates filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Cal. Lead Case No. 14-51955) on May 1, 2014, in San Jose.
Affiliates ClearEdge Power, LLC, and ClearEdge Power International
Service, LLC, are based in South Windsor, Connecticut, where the
manufacturing operations are located.

Privately held ClearEdge designs, manufactures, sells and services
distributed generation fuel cell systems for commercial,
industrial, utility and residential applications.  ClearEdge
bought United Technologies Corp.'s UTC Power division in late
2012.  ClearEdge sought bankruptcy protection just a week after
shutting operations.

John Walshe Murray, Esq., at Dorsey and Whitney LLP, serves as
counsel to the Debtors.  Insolvency Services Group, Inc., serves
as noticing and claims agent.

Power Inc. estimated $100 million to $500 million in both assets
and debts.

The petitions were signed by David B. Wright, chief executive
officer.


COASTLINE INVESTMENTS: Can Hire CBRE as Real Estate Broker
----------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
authorized Coastline Investments LLC and Diamond Waterfalls LLC to
employ CBRE, Inc., as their real estate broker.

The firm is expected to, among other things:

   1. advertise and market the hotels to interested parties;

   2. show hotels to interested parties; and

   3. represent estates as sellers in connection with the sale of
      the hotels.

The Debtors propose to compensate CBRE on these terms:

   a. in the event of a sale of the hotels, CBRE will be paid a
      commission equal to three percent of the gross sale if the
      marketing team represents both buyer and seller and four
      percent of the gross sale price if the marketing team
      represents only the sellers;

   b. the listing terms goes from April 1, 2014, to Sept. 30; and

   c) disputes between the Debtors and CBRE will be resolved by
      binding arbitration.

Michael Shustak, senior vice president at Urban Investment Group
of CBRE, related that the Debtors specifically sought assistance
of three professionals for the engagement of Phillip Sample, Chris
Caras and Mr. Shustak.

Mr. Shustak assured the Court that CBRE is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                   About Coastline and Diamond

Coastline Investments, doing business as Hilltop Suites Hotel, and
Diamond Waterfalls LLC, doing business as Diamond Bar Inn &
Suites, filed Chapter 11 bankruptcy petitions (Bankr. C.D. Cal.
Case No. 14-13028 and 14-13030) in Los Angeles on Feb. 18, 2014.
The cases are jointly administered under Lead Case No. 14-30328.

Coastline Investments is the owner of a hotel located at the top
of a prominent hill with sweeping views in Pamona, California.
The Hilltop Hotel consists of 130 suites located on three acres of
hilltop property by Interstates 10 and 57, Cal-Poly Tech
University, and the Los Angeles County fairgrounds, Fairplex.  The
Hilltop Hotel has three hotel floors along with two levels of
parking and features and outdoor pool, spa, exercise fitness
center, sauna, steam room and a full service restaurant, lounge,
meeting spaces and a banquet ballroom to accommodate 300 guests.

Diamond is the owner of a 161-room hotel located in Pomona,
California.  The Diamond Hotel is a full-service hotel, which
includes a business center, meeting facilities, pool, spa, fitness
center, steam, sauna and offices.

The Debtors acquired both of the hotels through voluntary Chapter
11 bankruptcy court 11 U.S.C. Sec. 363 sales in February 2012.
The Hilltop Hotel was acquired from Shilo Inn, Pamona Hilltop, LLC
(Case No. 11-26270) and the Diamond Hotel was acquired from Shilo
Inn, Diamond Bar LLC (Case No. 10-60884).

The Debtors sought bankruptcy protection after the receiver
appointed for the hotels scheduled a trustee sale for both hotels.
The receiver was appointed at the behest of the investor group
which provided a secured loan of $2,500,000, which the Debtors
defaulted.  The Debtors also have loans from First General Bank
each in the amount of $5,250,000.

Shin-Chung Liu is the 100% membership owner and managing member of
both of the Debtors.  The Debtors' affairs are managed by Liberty
Capital Management Corporation.

Judge Richard M. Neiter has been assigned to the cases.

The Debtors are represented by David B. Golubchick, and J.P.
Fritz, Esq., at Levene, Neale, Bender, Yoo & Brill L.L.P., in Los
Angeles, California.

No committee of unsecured creditors was appointed in the case.


COLDWATER CREEK: Hearing Thurs. on Sale of Property Leases
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing July 17, 2014, at 11:00 a.m., to consider the
results of the July 8 auction for Coldwater Creek Inc., et al.'s
non-residential real property leases.

Greenberg Gibbons Commercial Corp., on behalf of Hunt Valley Towne
Centre, LLC, landlord, objected to the sale motion stating that
the proposed cure amount do not provide for payment of all
obligations under the lease.

Greenberg Gibbons added that a status conference must be set to
deal with any amounts that remain unresolved after the period.
Any sale must not be free and clear of obligations to pay all
charges due under the leases, including unbilled year-end
adjustments and reconciliations.

VORH Associates, LLC, Ramco-Gershenson Properties, LP, and Avenue
450, LLC (objecting landlords) filed a precautionary objection to
the Debtors' motion for approval of sale of leasehold interest,
assumption and assignment of real property leases, and cure claim
objection, stating that the Debtor and the proposed assignee must
first comply with all the requirements of Section 365(b) and (f)
of the Bankruptcy Code.

The objecting landlords are the owners or the managing agents for
the owners of numerous shopping centers located throughout the
United States where the Debtors lease retail space.

The Taubman Landlords submitted a precautionary objection to any
prospective motion for approval of sale of leasehold interest,
assumption and assignment of real property leases and cure claim
objection.  According to the Taubman Landlords, the Debtors
proposed an extremely short period of time between the auction
date and the hearing to approve the sale of the Debtors' leases.

As reported in the Troubled Company Reporter on June 19, 2014, the
Bankruptcy Court approved (i) procedures for the assumption and
assignment of nonresidential real property leases; (ii) bidding
procedures to govern the sale of the Debtors' nonresidential real
property leases; and (iii) cure procedures.

The Debtors scheduled a July 8 at the offices of Shearman &
Sterling LLP located at 599 Lexington Avenue, New York City.
Qualified bids were due June 26.

On May 19, the Court authorized the Debtors to enter into an asset
purchase agreement with ASJ Consulting, LLC, as purchaser.  ASJ
Consulting emerged as the wining bidder at the conclusion of the
auction held on May 20.  The back-up bidder was Naturopathica
Holistic Health Inc.

                     About Coldwater Creek

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

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

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

Coldwater Creek Inc. disclosed assets of $721,468,388 plus
undetermined amount and liabilities of $425,475,739 plus
undetermined amount.  Affiliate Coldwater Creek U.S. Inc.
estimated $100 million to $500 million in assets and liabilities.

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

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

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


COLONIAL BANK: Citi Says High Court Ruling Dooms $388M MBS Suit
---------------------------------------------------------------
Law360 reported that Citigroup Inc. and others asked a New York
federal judge to dismiss allegations they helped push Colonial
Bank over a cliff by selling it $388 million in poor-quality
mortgage-backed securities, saying the suit is doomed by a new
U.S. Supreme Court ruling setting stricter limits on statutes of
limitations.  According to the report, the banks said that the
reasoning in CTS v. Waldburger applies to the Federal Deposit
Insurance Corp.'s allegations that the banks duped now-defunct
Colonial Bank into buying $388 million worth of bad MBS.


COMMUNITY MEMORIAL: Seeks Approval to Sell Cheboygan Property
-------------------------------------------------------------
The official liquidating the assets of Community Memorial Hospital
has filed a motion seeking court approval to sell a real property
in Cheboygan, Michigan.

The liquidating trustee has already reached an agreement with a
certain Brian Williams, who offered to purchase the property for
$22,500, but buyers who are interested with the property can still
submit bids.

Bids for the property must be submitted by noon on the first
business day following court approval of the proposed sale.

Bidders are required to provide Jack Douglas of Berkshire Hathaway
Home Services, the trustee's real estate agent, with a purchase
agreement on terms at least as favorable as Mr. Williams' offer
but with an overbid of at least $1,000 and a $2,000 deposit.

If the trustee receives a better offer, a public auction will be
conducted via telephone at the office of his legal counsel Kuhn,
Darling, & Quandt P.L.C., in Traverse City, Michigan.  Bidding
will occur in increments of $1,000.

If no bidders come forward, the trustee will close the sale with
Mr. Williams, according to the court filing.

In connection with the proposed sale, the trustee also seeks court
approval to pay the real estate agent a 10% commission at closing.

                  CMH to Sell Cheboygan Property

Separately, U.S. Bankruptcy Judge Daniel Opperman approved the
sale of another real property owned by CMH, which is also located
in Cheboygan.

Judge Opperman gave the trustee the go-signal to sell the property
to a certain Robert Szczesniak for $7,500, subject to receiving
higher or better offers.

Bidders are required to submit a purchase agreement on terms at
least as favorable as Mr. Szczesniak's offer, but with an overbid
of at least $8,500, and a deposit of $1,000.

                About Community Memorial Hospital

Community Memorial Hospital, operator of the Cheboygan Memorial
Hospital, filed for Chapter 11 bankruptcy (Bankr. E.D. Mich. Case
No. 12-20666) on March 1, 2012.  Judge Daniel S. Opperman oversees
the case.  Paul W. Linehan, Esq., and Shawn M. Riley, Esq., at
McDonald Hopkins LLC, in Cleveland, Ohio; and Jayson Ruff, Esq.,
at McDonald Hopkins LLC, in Bloomfield Hills, Michigan, represent
the Debtor as counsel.  The Debtor's financial advisor is Conway
Mackenzie Inc.  The Debtor disclosed $23,085,273 in assets and
$26,329,103 in liabilities.

Opened in 1942, the Debtor is an independent, not-for-profit
entity, organized exclusively for charitable, scientific and
educational purposes, and holds tax exempt status in accordance
with Section 501(c)(3) of the Internal Revenue Code.  The
Cheboygan Memorial Hospital is a 25-bed critical access hospital
located in Cheboygan, Cheboygan County, a community on the Lake
Huron coast.  The Debtor has 395 employees.

McLaren Health Care Corporation proposed to acquire substantially
all of the Debtor's operating assets at its primary hospital
campus, for $5,000,000, plus (2) all amounts required for the
Debtor to cure and assume the assigned Assumed Contracts and
Leases.

Daniel M. McDermott, the U.S. Trustee for Region 9, appointed a
five-member official committee of unsecured creditors in the
Chapter 11 case of Community Memorial Hospital.

Michael S. McElwee, Esq., at Varnum LP, in Grand Rapids, Michigan,
represents the Unsecured Creditors' Committee as counsel.

The Creditors Committee won confirmation of its Corrected First
Amended Plan of Liquidation for the Debtor in August 2013.  A
liquidating trust is established to liquidate the Debtor's
remaining assets and distribute the proceeds to creditors.

James Boyd has been designated as liquidating trustee.  He is
represented by Michael S. McElwee, Esq., of Varnum LLP.


COMMUNITY MEMORIAL: Gets Approval to Settle Dispute With PHSI
-------------------------------------------------------------
The official liquidating the assets of Community Memorial Hospital
received court approval for a deal that would resolve CMH's
dispute with Phoenix Health Systems, Inc.

Under the deal, Phoenix Health agreed to return $31,000 to the
liquidating trustee to resolve their dispute over amounts it
received from CMH prior to the bankruptcy filing.

The liquidating trustee sued Phoenix Health last year to recover
$184,068.  CMH's plan of liquidation, which the U.S. Bankruptcy
Court for the Eastern District of Michigan approved in August last
year, authorizes the trustee to pursue so-called avoidance claims
to recover properties transferred within 90 days before the
bankruptcy filing.

                About Community Memorial Hospital

Community Memorial Hospital, operator of the Cheboygan Memorial
Hospital, filed for Chapter 11 bankruptcy (Bankr. E.D. Mich. Case
No. 12-20666) on March 1, 2012.  Judge Daniel S. Opperman oversees
the case.  Paul W. Linehan, Esq., and Shawn M. Riley, Esq., at
McDonald Hopkins LLC, in Cleveland, Ohio; and Jayson Ruff, Esq.,
at McDonald Hopkins LLC, in Bloomfield Hills, Michigan, represent
the Debtor as counsel.  The Debtor's financial advisor is Conway
Mackenzie Inc.  The Debtor disclosed $23,085,273 in assets and
$26,329,103 in liabilities.

Opened in 1942, the Debtor is an independent, not-for-profit
entity, organized exclusively for charitable, scientific and
educational purposes, and holds tax exempt status in accordance
with Section 501(c)(3) of the Internal Revenue Code.  The
Cheboygan Memorial Hospital is a 25-bed critical access hospital
located in Cheboygan, Cheboygan County, a community on the Lake
Huron coast.  The Debtor has 395 employees.

McLaren Health Care Corporation proposed to acquire substantially
all of the Debtor's operating assets at its primary hospital
campus, for $5,000,000, plus (2) all amounts required for the
Debtor to cure and assume the assigned Assumed Contracts and
Leases.

Daniel M. McDermott, the U.S. Trustee for Region 9, appointed a
five-member official committee of unsecured creditors in the
Chapter 11 case of Community Memorial Hospital.

Michael S. McElwee, Esq., at Varnum LP, in Grand Rapids, Michigan,
represents the Unsecured Creditors' Committee as counsel.

The Creditors Committee won confirmation of its Corrected First
Amended Plan of Liquidation for the Debtor in August 2013.  A
liquidating trust is established to liquidate the Debtor's
remaining assets and distribute the proceeds to creditors.

James Boyd has been designated as liquidating trustee.  He is
represented by Michael S. McElwee, Esq., of Varnum LLP.


CORINTHIAN COLLEGES: Takedown Signals Tougher Agency Enforcement
----------------------------------------------------------------
John Lauerman, writing for Bloomberg News, reported that the U.S.
Education Department has taken its toughest regulatory action ever
against a for-profit college when it placed Corinthian Colleges
Inc. on the path to going out of business.

Bloomberg, citing analysts, noted that at least two large players
-- ITT Educational Services Inc. and Education Management Corp. --
are also at some risk of stricter enforcement.  The report related
that in June 2010, the Obama administration released a package of
proposed rules that the Association of Private Sector Colleges and
Universities, an industry group, said would force hundreds of
programs to close, eliminating skill-building opportunities for
thousands of students.  While that proposal, which would limit
government funding for schools whose students struggle to repay
loans, resurfaced after a court challenge from APSCU, it still
awaits approval and would take years, perhaps until 2017, to be
used to close any programs, the report said.


D.A.B. GROUP: Stalled Allen Street Hotel in NY Files for Ch. 11
---------------------------------------------------------------
D.A.B. Group LLC, owner of a yet-to-be-finished 16-story Allen
Street Hotel, in Orchard Street, New York, has sought Chapter 11
protection to pursue a prompt sale of the property.

The Debtor estimates its property to be worth $35 million to $40
million.  The property is located at 139-141 Orchard Street, in
New York (Block 415, Lots 66 and 67).  The property is improved by
a partially constructed hotel, containing a steel superstructure,
but no fa‡ade or exterior walls.

DAB Group said it faces a ticking clock amid an August 2015
deadline set by the Board of Standards and Appeals to finish
construction and thus will seek to promptly retain a broker and
ready itself to sell its property through a bidding procedures
motion and a liquidating plan.

                     Debtor's Property

Prior to various legal entanglements with the lender and other
parties, the Debtor's property was under constructed to be
developed as a 16-story boutique hotel (containing 92 rooms) to be
known as the Allen Street Hotel.

Development began in 2008 based upon $14.4 million of financing
originally provided by Brooklyn Federal Savings Bank.  The
underlying mortgage notes were sold to the current holder, Orchard
Hotel, LLC ("Lender"), in June 2011, after disputes arose with
Brooklyn Federal concerning an extension of the loan maturity
date.

Requisitions under the mortgage loan ceased entirely in January
2011, leaving the project partially built.  In the years that
followed, extensive litigation ensued with the lender in the
context of a foreclosure action in which the Debtor raised, inter
alia, equitable estoppel defenses based upon assurances that the
loan would be extended beyond March 1, 2011.  The extension was
confirmed when Brooklyn Federal approved a construction contract
with Flintlock Construction Services, LLC, to complete
construction by November 2011.

While the Debtor's counterclaims against the Lender were overruled
by the Appellate Division, the Lender was denied summary judgment
on March 21, 2014, after the trial court (Judge Charles Ramos)
found issues of fact with respect to the Debtor's equitable
estoppel defenses relating to the extension of the maturity date.

                  Events Leading to Filing

"Rather than pursuing a conventional appeal, the Lender recently
filed a writ of mandamus under Article 78 in the Appellate
Division against the trial court judge, Hon. Charles Ramos, in an
obvious effort to circumvent normal procedures.  The Lender's
gamesmanship has crystallized the growing belief that ongoing
state litigation will only delay and cloud the Debtor's ability to
sell the Property.  Moreover, the Lender has launched unfounded
and irrational attacks against me which are infuriating and only
to serve to sidetrack the process.  Accordingly, the Debtor has
opted to seek Chapter 11 relief to utilize the provisions of the
Bankruptcy Code to maximize the value of the Property and take
advantage of a rising market, while the Lender's alleged claims
for various interest charges and fee are properly and fairly
litigated," Zvi Benjamin Zhavian, owner and manager of the Debtor,
said in the court filing.

According to Mr. Zhavian, although the equitable defenses may not
nullify the principal due under the mortgage loan, they weigh
prominently in evaluating the Lender's entitlement to default
interest and fees, which will be vigorously challenged by the
Debtor in the context of a claims objection process.  Indeed,
since the Debtor was unfairly denied the ability to refinance or
complete construction, there is a strong argument that the Lender
is not entitled to any interest after November 2011, but certainly
not at the default rate of 24 percent per annum.

Mr. Zhavian further notes of the Debtor's expiring rights under
various extensions granted by the Board of Standards and Appeals
to complete construction.  Following various extensions, the
current deadline expires on August 20, 2015.

The Debtor notes that if construction is not timely completed, the
project is then put in jeopardy because of an intervening change
in zoning regulations.  When construction was first commenced, the
property was zoned C6-1 and a building permit was originally
issued to build to a height of 191 feet.  In late 2008, the zoning
of the property was changed to C4-4A, which carries reduced
footage and height limitations.

The extension of the construction permit by the BSA protects
against intervening zoning change, but not indefinitely.  If
construction is not completed by Aug. 20, 2015, there is a
potential that a part of the building may have to be demolished to
meet the reduced zoning regulations.

Additionally, the property has also benefited from the "Stalled
Sites Program" created by the City in response to the financial
crisis.  However, under this program, there is a requirement that
some form of construction must commence by July 1, 2014.  The
Debtor consented to have the receiver, Simon Miller, resume
construction pursuant to an order by Judge Ramos on June 26, 2015.

Mr. Zhavian says that in bankruptcy, the Debtor is not necessarily
adverse to the receiver continuing with overseeing ongoing work at
the property so long as his involvement does not interfere with
the Debtor's sale and reorganization efforts or burden the estate
with unnecessary administrative costs.

The Debtor says its main goal is to pursue a prompt sale so a new
owner can take advantage of the C6-1 zoning regulations.  The
Debtor intends to promulgate a formal plan and disclosure
statement within 90 days to meet the requirements of 11 U.S.C.
Sec. 362(d)(3).  It notes that the property is not otherwise
income producing so there is an urgency to move forward with a
comprehensive sale process.

                      About DAB Group

D.A.B. Group LLC, owner of a stalled 16-story Allen Street Hotel
project in Orchard Street, New York, sought Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 14-12057) in Manhattan on July 14, 2014,
to pursue a prompt sale of the property.

The property has been in the hands of a receiver since July 18,
2011.  Simon J.K. Miller, of Blank Rome LLP, serves as receiver.

The Debtor is required to file its Chapter 11 plan and disclosure
statement by Nov. 12, 2014.  The initial case conference is due by
Aug. 13, 2014.

The meeting of creditors under 11 U.S.C. Sec. 341(a) is slated for
Aug. 19, 2014.

The case is assigned to Judge Shelley C. Chapman.

J. Ted Donovan, Esq., at Goldberg Weprin Finkel Goldstein LLP, in
New York, serves as counsel to the Debtor.

DAB Group said in a court filing that its property is continguous
to the commercial property owned by its affiliate, 77-79 Rivington
Street Realty LLC (Bankr. S.D.N.Y. Case No. 14-10339).
Accordingly, DAB's Chapter 11 case is being filed as a related
proceeding.


D.A.B. GROUP: Files Schedules of Assets and Liabilities
-------------------------------------------------------
D.A.B. Group LLC filed together with its bankruptcy petition
schedules that indicate that its property improved by an
unfinished 16-story Allen Street Hotel in New York is worth $37.5
million, which is two times its existing debt to creditors:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $37,500,000
  B. Personal Property                    $0
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $14,960,251
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $3,886,491
                                 -----------      -----------
        TOTAL                    $37,500,000      $18,846,743

The Debtor says that the property, located at 19-141 Orchard
Street, New York, NY 10002, serves as collateral to a $14,000,000
debt to Orchard Hotel LLC.

The secured lender can be reached at:

         ORCHARD HOTEL LLC
         c/o Maverick Real Estate Partners
         14 E. 38th Street, 12th Floor
         New York, NY 10016.

                      About DAB Group

D.A.B. Group LLC, owner of a stalled 16-story Allen Street Hotel
project in Orchard Street, New York, sought Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 14-12057) in Manhattan on July 14, 2014,
to pursue a prompt sale of the property.

The property has been in the hands of a receiver since July 18,
2011.  Simon J.K. Miller, of Blank Rome LLP, serves as receiver.

The Debtor is required to file its Chapter 11 plan and disclosure
statement by Nov. 12, 2014.  The initial case conference is due by
Aug. 13, 2014.

The meeting of creditors under 11 U.S.C. Sec. 341(a) is slated for
Aug. 19, 2014.

The case is assigned to Judge Shelley C. Chapman.

J. Ted Donovan, Esq., at Goldberg Weprin Finkel Goldstein LLP, in
New York, serves as counsel to the Debtor.

DAB Group said in a court filing that its property is contiguous
to the commercial property owned by its affiliate, 77-79 Rivington
Street Realty LLC (Bankr. S.D.N.Y. Case No. 14-10339).
Accordingly, DAB's Chapter 11 case is being filed as a related
proceeding.


DETROIT, MI: Mayor Mike Duggan's Pledges Echo in City's North End
-----------------------------------------------------------------
John Eligon, writing for The New York Times, reported that
Detroit's North End captures both the hope and challenge of Mayor
Mike Duggan's promise of immediate improvements after the city hit
a low point last year, becoming America's largest to file for
bankruptcy.  According to the NY Times, the North End, which
became a haven for the upper class, still has some of the city's
glorious homes although its remaining residents are mostly low-
income blacks who bear the brunt of Detroit's economic decline
because of a legacy of confinement to the lowest-paid, least-
skilled and least-mobile jobs.

In a plan for the first phase of a streetcar project, the
neighborhood is the end of the line, the news agency said.  The
city is offering financial incentives for employees of Wayne State
University and two nearby hospitals to rent or purchase homes in
parts of the North End, the NY Times added.  Moreover, the news
agency noted that new people and also organizations are moving in,
like the Michigan Urban Farming Initiative.

Meanwhile, Law360 reported that individual creditors took aim at
Detroit's design to exit Chapter 9, with one pension holder
contending that the city's proposed plan of adjustment can't be
confirmed because it runs afoul of the Michigan Constitution.
According to Law360, Detroit's adjustment plan drew fire from four
individual creditors, who filed separate objections in the U.S.
Bankruptcy Court for the Eastern District of Michigan.

                  About City of Detroit, Michigan

The City of Detroit, Michigan, weighed down by more than
$18 billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter 9
petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit listed
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by
lawyers at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The City's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

The Hon. Steven Rhodes oversees the bankruptcy case.  Detroit is
represented by David G. Heiman, Esq., and Heather Lennox, Esq., at
Jones Day, in Cleveland, Ohio; Bruce Bennett, Esq., at Jones Day,
in Los Angeles, California; and Jonathan S. Green, Esq., and
Stephen S. LaPlante, Esq., at Miller Canfield Paddock and Stone
PLC, in Detroit, Michigan.

Sharon Levine, Esq., at Lowenstein Sandler LLP, is representing
the American Federation of State, County and Municipal Employees
and the International Union.

Babette Ceccotti, Esq., at Cohen, Weiss & Simon LLP, is
representing the United Automobile, Aerospace and Agricultural
Implement Workers of America.

A nine-member official committee of retired workers was appointed
in the case.  The Retirees' Committee is represented by Dentons US
LLP.  Lazard Freres & Co. LLC serves as the Retiree Committee's
financial advisor.


DIAMOND TECHNOLOGY: Posts $154K Net Loss in April 30 Quarter
------------------------------------------------------------
Diamond Technology Enterprises Inc. filed its quarterly report on
Form 10-Q disclosing a net loss of $154,484 for the three months
ended April 30, 2014, compared with a net loss of $46,265 for the
same period in 2013.

The Company's balance sheet at April 30, 2014, showed $1.68
million in total assets, $560,124 in total liabilities, and a
stockholders' deficit of $1.17 million.

The Company has experienced net losses and negative cash flows
from operations since inception and expects these conditions to
continue for the foreseeable future.  In addition, the Company
will require additional financing to fund future operations.  The
Company intends to raise additional capital to complete the
development and commercialization of its current product through
equity or debt financing; however the Company does not have any
commitments or definitive or binding arrangements for such funds.
There can be no assurance that such funds, if available at all,
can be obtained on terms reasonable to the Company.  If the
Company is unsuccessful in raising additional capital it will need
to reduce costs and operations substantially.  These factors 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 at:

                       http://is.gd/DwNRVI

Diamond Technology Enterprises Inc. engages in the manufacture and
supply of multicolored melee diamonds to the jewelry industry. The
company was founded in 2013 and is headquartered in New York, New
York.


DIVERSIFIED RESOURCES: Posts $406K Net Loss in April 30 Quarter
---------------------------------------------------------------
Diversified Resources, Inc., filed its quarterly report on Form
10-Q, disclosing a net loss of $406,155 on $9,874 of oil and gas
sales for the three months ended April 30, 2014, compared with a
net loss of $140,414 on $11,481 of oil and gas sales for the same
period in 2013.

The Company's balance sheet at April 30, 2014, showed $2.83
million in total assets, $1.09 million in total liabilities, and
stockholders' equity of $1.74 million.

The Company sustained operating losses during the years ended Oct.
31, 2013 and 2012 and during the six months ended April 30, 2014
and 2013.  The Company has a negative working capital in the
amount of $611,487.  The Company's continuation as a going concern
is dependent on its ability to generate sufficient cash flows from
operations to meet its obligations and/or obtaining additional
financing from its shareholders or other sources, as may be
required.

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

                       http://is.gd/KmiCop

Diversified Resources is a Colorado-based energy company focused
on the development of its D-J Basin, Raton Basin and other assets.
Those assets include leases in the counties of Weld, Adams,
Broomfield and Las Animas Counties, Colorado.


ENERGY FUTURE: Wants Separate 401(k) Plan for Oncor Employees
-------------------------------------------------------------
Energy Future Holdings Corp. is seeking court approval to transfer
to a new 401(k) plan the accounts of Oncor Electric Delivery
Holdings Co.'s employees who participate in the energy company's
own pension plan.

The new 401(k) plan will be established by Oncor, an affiliate of
Energy Future which is not in bankruptcy protection.

The new plan, if approved by the court, would help reduce
administrative burden on the part of Energy Future, according to
its lawyer, Tyler Semmelman, Esq., at Richards, Layton & Finger
P.A., in Wilmington, Delaware.

About 4,000 current and former employees of Oncor participate in
Energy Future's 401(k) plan.  Approximately $626 million or 40% of
the assets in the plan are attributable to these employees.

Energy Future pays the costs of administering benefits on behalf
of Oncor employees who participate in its pension plan.  Oncor
then reimburses the energy company on a monthly basis for these
costs.

The U.S. Bankruptcy for the District of Delaware will hold a
hearing on July 18 to consider approval of the request.

             About Energy Future Holdings fka TXU Corp.

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

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

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

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

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

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

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

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

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


EXIDE TECHNOLOGIES: Seeks $65M In Additional Bankruptcy Financing
-----------------------------------------------------------------
Law360 reported that battery maker Exide Technologies Inc. asked
the Delaware bankruptcy court to approve $65 million in additional
debtor-in-possession financing to bridge its way through
negotiations on a Chapter 11 plan connected to a reorganization
proposal the debtor received from a group of noteholders in late
June.  According to the Law360 report, in a motion before the
bankruptcy court, Exide said that the nonbinding restructuring
proposal it got from the unofficial committee of senior secured
noteholders, which also holds the majority of the debtor's $500
million DIP financing package.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that Exide has said the inability to operate the
recycling plant in Vernon, California, eroded earnings by $15
million to $38 million a year and the company said it needs
additional financing until a substitute, lower-cost source can be
located.  The bankruptcy court in Delaware will hold a hearing on
July 22 for approval of additional financing, Mr. Rochelle said.

The $674 million of 8.625 percent first-lien notes due in
2018 traded on July 7 for 49 cents on the dollar, the Bloomberg
report said, citing Trace, the bond-price reporting system of the
Financial Industry Regulatory Authority.

                      About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

Exide first sought Chapter 11 protection (Bankr. Del. Case No.
02-11125) on April 14, 2002 and exited bankruptcy two years after.
Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq., at Kirkland &
Ellis, and James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones LLP represented the Debtors in their successful
restructuring.

Exide returned to Chapter 11 bankruptcy (Bankr. D. Del. Case No.
13-11482) on June 10, 2013.  Exide disclosed $1.89 billion in
assets and $1.14 billion in liabilities as of March 31, 2013.

Exide's international operations were not included in the filing
and will continue their business operations without supervision
from the U.S. courts.

For the new case, Exide has tapped Anthony W. Clark, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, and Pachulski Stang
Ziehl & Jones LLP as counsel; Alvarez & Marsal as financial
advisor; Sitrick and Company Inc. as public relations consultant
and GCG as claims agent.  Schnader Harrison Segal & Lewis LLP was
tapped as special counsel.

The Official Committee of Unsecured Creditors is represented by
Lowenstein Sandler LLP and Morris, Nichols, Arsht & Tunnell LLP as
co-counsel.  Zolfo Cooper, LLC serves as its bankruptcy
consultants and financial advisors.  Geosyntec Consultants was
tapped as environmental consultants to the Committee.

Robert J. Keach of the law firm Bernstein Shur as fee examiner has
been appointed as fee examiner.  He has hired his own firm as
counsel.


F&H ACQUISITION: Has Until August 13 to Decide on Leases
--------------------------------------------------------
U.S. Bankruptcy Judge Kevin Gross has given F&H Acquisition
Corp. and its affiliated debtors until August 13 to either assume
or reject their leases of nonresidential real property.

The previous deadline was July 14.

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

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

                  About F & H Acquisition Corp.

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

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

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

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

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

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

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

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


FLETCHER INT'L: Bid to Disgorge and Compel Compliance Denied
------------------------------------------------------------
The Bankruptcy Court denied a disgorgement motion filed by
Alphonse Fletcher, Jr., in the Chapter 11 case of Fletcher
International, Ltd.

The Court, in its findings and conclusions, said that,
notwithstanding Fletcher's failure to comply with the Court's
prior orders, nothing raised in the March 19, 2014 letter, the
motion to compel compliance, the chart, or the disgorgement motion
creates an issue of fact as to any conflicts the trustee or his
professionals allegedly failed to disclose.

Fletcher International, Ltd., filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 12-12796) on June 29, 2012, in Manhattan.  The
Bermuda exempted company estimated assets and debts of $10 million
to $50 million.  The bankruptcy documents were signed by its
president and director, Floyd Saunders.

David R. Hurst, Esq., at Young Conaway Stargatt & Taylor, LLP, in
New York, serves as counsel and Appleby (Bermuda) Limited serves
as special Bermuda counsel.  The Debtor disclosed $52,163,709 in
assets and $22,997,848 in liabilities as of the Chapter 11 filing.

Fletcher International Ltd. was managed by the investment firm of
Alphonse "Buddy" Fletcher Jr.

Fletcher Asset Management was founded in 1991.  During its initial
four years, FAM operated as a broker dealer trading various debt
and equity securities and making long-term equity investments.
Then, in 1995, FAM began creating and managing a family of private
investment funds.

The Debtor is a master fund in the Fletcher Fund structure.  As a
master fund, it engages in proprietary trading of various
financial instruments, including complex, long-term, illiquid
investments.

The Debtor is directly owned by Fletcher Income Arbitrage Fund and
Fletcher International Inc., which own roughly 83% and 17% of the
Debtor's common shares, respectively.  Arbitrage's direct parent
entities are Fletcher Fixed Income Alpha Fund and FIA Leveraged
Fund, both of which are incorporated in the Cayman Islands and are
subject to liquidation proceedings in that jurisdiction, and which
own roughly 76% and 22% of Arbitrage's common stock, respectively.
The Debtor currently has a single subsidiary, The Aesop Fund Ltd.

After filing for Chapter 11 protection, Fletcher immediately
started a lawsuit in bankruptcy court to stop the involuntary
bankruptcy in Bermuda.  Judge Gerber at least temporarily halted
liquidators appointed in the Cayman Islands from moving ahead with
proceedings in Bermuda.  The lawsuit to halt the Bermuda
liquidation is Fletcher International Ltd. v. Fletcher Income
Arbitrage Fund, 12-01740, in the same court.

Richard J. Davis, Chapter 11 trustee appointed in the case, has
hired Michael Luskin, Esq., Lucia T. Chapman, Esq., and Stephanie
E. Hornung, Esq., at Luskin, Stern & Eisler LLP as his
counsel.

The Chapter 11 trustee filed a proposed liquidating Plan in
November 2013.  The disclosure statement was approved on Jan. 17,
2014.  Judge Gerber has confirmed the Second Amended Plan of
Liquidation late in March 2014.


FONTAINEBLEAU LAS VEGAS: Trustee Strikes $83.3M Deal for Creditors
------------------------------------------------------------------
Joseph Checkler, writing for Daily Bankruptcy Review, reported
that the trustee in charge of Jeffrey Soffer's failed
Fontainebleau Las Vegas casino project has struck a settlement
that would put more than $83 million of directors and officers
insurance money into creditors' pockets.  According to Law360, in
a filing with U.S. Bankruptcy Court in Miami, lawyers for Chapter
7 Trustee Soneet R. Kapila said the settlement also removes $675
million in claims against the Fontainebleau estate.  In exchange,
lawsuits against Mr. Soffer and other Fontainebleau officers,
which accused them of, among other things, providing "materially
inaccurate" information to lenders and other parties, will be
dropped, Law360 said.

Under the settlement, the trustee will get $80 million from the
insurance company and $3.3 million from individual directors and
officers for distribution to creditors, Bill Rochelle, the
bankruptcy columnist for Bloomberg News, reported.  The settlement
will also waive more than $675 million in claims against the
bankrupt estate.  Court approval of the settlement as proposed
would bar a pending lawsuit against Fontainebleau directors and
officers filed by lenders on a term loan, Mr. Rochelle said.

Law360 related that U.S. Bankruptcy Judge A. Jay Cristol said he
approved much of the proposed settlement but did not approve of
the settlement's attached order barring term lenders from seeking
further prosecution.

"A number of parties in interest have agreed to settle the claims
of the term lenders, who are now awaiting trial in Las Vegas state
court, without the consent of the term lenders," Law360 said,
citing Judge Cristol as saying.  "In this court's opinion, such a
bar order seems unconstitutional . . . as a taking of property
without due process of law.

                  About Fontainebleau Las Vegas

Fontainebleau Las Vegas -- http://www.fontainebleau.com/-- was
planned as a hotel-casino on property along the Las Vegas Strip.
Its developer, Fontainebleau Las Vegas Holdings LLC and
affiliates, filed for Chapter 11 protection (Bankr. S.D. Fla. Lead
Case No. 09-21481) on June 9, 2009.

Scott L Baena, Esq., at BilzinSumbergBaena Price & Axelrod LLP,
represented the Debtors in their restructuring effort.  Kurtzman
Carson Consulting LLC served as the Debtors' claims agent.
Attorneys at Genovese Joblove& Battista, P.A., and Fox
Rothschild, LLP, represented the Official Committee of Unsecured
Creditors.  Fontainebleau Las Vegas LLC estimated more than
$1 billion in assets and debts, while each of Fontainebleau Las
Vegas Capital Corp. and Fontainebleau Las Vegas Holdings LLC
estimated less than $50,000 in assets.

In February 2010, Icahn Enterprises L.P. acquired Fontainebleau
for roughly $150 million.  The bankruptcy case was subsequently
converted to Chapter 7.  Soneet R. Kapila has been named the
trustee for the Chapter 7 case of Fontainebleau Las Vegas.


FREE LANCE-STAR: DSP Seeks to Disband Committee
-----------------------------------------------
DSP Acquisition, LLC filed a motion with the U.S. Bankruptcy Court
seeking an order directing the United States Trustee for Region 4
to disband the Official Committee of Unsecured Creditors as it is
no longer required for the adequate representation of creditors
following the sale of substantially all of the Debtors' assets to
DSP.

DSP said the disbandment of the Committee pursuant to Sections 105
and 1102 of the Bankruptcy Code is necessary and appropriate.  The
Debtors recently sold substantially all of their property to DSP.
Following the Closing Date, the Debtors have no ongoing business
operations and no remaining sources of income, and the Debtors'
only remaining assets are potential causes of action.

Furthermore, two of the three members of the Committee are no
longer creditors in the bankruptcy case following the Closing Date
and the subsequent withdrawal of their claims, and the sole
remaining member of the Committee (the PBGC) is separately
represented in the case.  It is beyond cavil that a committee with
only one member is not permissible.

Indeed, the United States Trustee Manual expressly states that
"[t]he United States Trustee should not ordinarily appoint a
committee of two members and should never appoint a committee of
one."

DSP also said the Committee is no longer needed to represent the
interests of its sole remaining member, and the continuing accrual
of duplicative fees and expenses by the Committee is no longer
justified, particularly since the fees and expenses are paid out
of DSP's cash collateral and information obtained from the Debtors
suggests that the remaining cash collateral is anticipated to be
completely depleted during the third fiscal quarter of 2014.

                About The Free Lance-Star Publishing

The Free Lance-Star Publishing Co. of Fredericksburg, Va., is a
publishing, newspaper, radio and communications company based in
Fredericksburg, Virginia and owned by the family of Josiah P. Rowe
III.  FLS's single, seven-day a week newspaper, The Free Lance-
Star was first published in 1885 when a group of local
Fredericksburg merchants and businessmen created the paper to
serve the news and advertising needs of the community.  FLS also
owns radio stations WFLS-AM, FLS-FM, and WVBX.  FLS owns the
community and news portal http://www.fredericksburg.com/

FLS filed a Chapter 11 bankruptcy petition (Bankr. E.D. Va. Case
No. 14-30315) in Richmond, Virginia, on Jan. 23, 2014.  William
Douglas Properties, L.L.C., a related entity that owns a portion
of the land pursuant to which FLS operates certain aspects of its
business, also sought bankruptcy protection.

Judge Keith L. Phillips was initially assigned to the cases, but
the cases were reassigned to Judge Kevin R. Huennekens on the
Petition Date.

The Debtors have tapped Lynn L. Tavenner, Esq., and Paula S.
Beran, Esq., at Tavenner & Beran, PLC, as counsel; and Protiviti,
Inc., as financial advisor.

Judge A. Robbins, U.S. Trustee for Region 4, appointed three
members to the official committee of unsecured creditors.


FREE LANCE-STAR: Wants Case Caption Changed to "VA NEWSPAPER"
-------------------------------------------------------------
The Free Lance-Star Publishing Co. filed a motion with the U.S.
Bankruptcy Court seeking authorizion to change the caption of the
Debtors' jointly administered cases.

The changes will be:

        VA NEWSPAPER DEBTOR CO., et al.
        Case No. 14-30315-KRH
        (Jointly Administered)

In addition, the Debtors request that the Court authorize the
Clerk of the Bankruptcy Court for the Eastern District of Virginia
and other parties in interest to take whatever actions are
necessary to update the ECF filing system and their respective
records to reflect the name changes of the Debtors identified.

The Debtors also request that a docket entry, substantially
similar to the following, be entered on the docket of William
Douglas Properties, LLC:

"An order has been entered changing the caption of the lead case
in these jointly administered cases to In re VA Newspaper Debtor
Co., et al., Case No. 14-30315-KRH.  As a result of recent changes
or anticipated changes to the names of the Debtors, the current or
anticipated new names of the Debtors, and the Debtors' names
before the name changes, are as follows: VA Newspaper Debtor Co.
(f/k/a The Free Lance-Star Publishing Co. of Fredericksburg, VA)
and VA Real Estate Debtor LLC (f/k/a/ William Douglas Properties,
LLC)."

The requested change to the caption is necessary as a result of
the closing of the Sale pursuant to the Sale Order.

As a result, the Debtors seek to change the caption of the
Debtors' jointly administered cases to accurately reflect the
contemplated changes in their names and to avoid any confusion.

            About The Free Lance-Star Publishing

The Free Lance-Star Publishing Co. of Fredericksburg, Va., is a
publishing, newspaper, radio and communications company based in
Fredericksburg, Virginia and owned by the family of Josiah P. Rowe
III.  FLS's single, seven-day a week newspaper, The Free Lance-
Star was first published in 1885 when a group of local
Fredericksburg merchants and businessmen created the paper to
serve the news and advertising needs of the community.  FLS also
owns radio stations WFLS-AM, FLS-FM, and WVBX.  FLS owns the
community and news portal http://www.fredericksburg.com/

FLS filed a Chapter 11 bankruptcy petition (Bankr. E.D. Va. Case
No. 14-30315) in Richmond, Virginia, on Jan. 23, 2014.  William
Douglas Properties, L.L.C., a related entity that owns a portion
of the land pursuant to which FLS operates certain aspects of its
business, also sought bankruptcy protection.

Judge Keith L. Phillips was initially assigned to the cases, but
the cases were reassigned to Judge Kevin R. Huennekens on the
Petition Date.

The Debtors have tapped Lynn L. Tavenner, Esq., and Paula S.
Beran, Esq., at Tavenner & Beran, PLC, as counsel; and Protiviti,
Inc., as financial advisor.

Judge A. Robbins, U.S. Trustee for Region 4, appointed three
members to the official committee of unsecured creditors.


GABRIEL TECHNOLOGIES: Court OKs Case Conversion to Chapter 7
------------------------------------------------------------
The U.S. Bankruptcy Court approved the motion filed by Qualcomm
Incorporated, a creditor of Gabriel Technologies Corporation, et
al., to convert the Debtor's chapter 11 case to a liquidation
in chapter 7.

                    About Gabriel Technologies

Gabriel Technologies Corporation and one subsidiary filed separate
Chapter 11 petitions (Bankr. N.D. Cal. Case No. 13-30340 and 13-
30341) on Feb. 14, 2013, in San Francisco, after losing in a
patent dispute with smartphone chips maker Qualcomm Inc.

Gabriel Technologies, through its debtor-subsidiary Trace
Technologies, LLC, holds significant intellectual property assets
directed toward location-based products and services through
global positioning systems.

Gabriel Technologies disclosed $15 million in assets and
$15 million in liabilities as of Jan. 31, 2013.

The Debtors tapped the law firm of Meyers Law Group, P.C. as
general bankruptcy counsel.

A three-member official committee of unsecured creditors has been
appointed in the case.  Pachulski Stang Ziehl & Jones LLP
represents the Committee.

The Debtor filed a Plan of Reorganization that proposes to
substantively consolidate the Debtors' estates into the Chapter 11
estate of Gabriel, and upon the Effective Date, all those assets
will become the property of the Reorganized Debtor.  Secured
claims filed against the Debtors will be paid by proceeds
recovered from Qualcomm Incorporated in a lawsuit involving
royalties, and from another lawsuit involving royalties captioned
Gabriel Technologies Corporation, etc. v. Keith Feilmeier, et al.
Unsecured Claims will also be paid from the proceeds of the two
lawsuits, after all secured claims have been paid.  Allowed
General unsecured claims will accrue an interest of 10% per annum.


GBG RANCH: Files Notice to Remove State Court Suit
--------------------------------------------------
G.B.G. Ranch, Ltd., filed with the U.S. Bankruptcy Court for the
Southern District of Texas, Lareo Division, a notice of removal of
the state court litigation styled Anam Ltd., Guillermo Benavides
Z. and Guillermo R. Benavides v. G.B.G. Ranch, Ltd., pending in
the 49th Judicial District Court of Webb County, in Texas, under
Cause No. 2011-CVF-0001994-D1.  According to the Debtor, the
removed litigation involves both "core" and "non-core" claims and
causes of action between the Debtor and the various parties.

GBG Ranch, LTD, a Texas Limited Partnership, sought Chapter 11
protection (Bankr. S.D. Tex. Case No. 14-50155) in Laredo, Texas
on July 8, 2014, without stating a reason.  The company estimated
assets of $50 million to $100 million and debt of less than $10
million.  The company is represented by the Law Office of Carl M.
Barto.


GENERAL MOTORS: Top Lawyer Faces Scrutiny on Defect, Settlements
----------------------------------------------------------------
Jeff Bennett, Joseph B. White and Siobhan Hughes, writing for The
Wall Street Journal, reported that senators pressing General
Motors Co. on why senior executives weren't aware of defective
cars turn their sights to the auto maker's top lawyer whose staff
signed off on wrongful-death payouts that pointed to the fatal
flaw.  According to the report, GM General Counsel Michael
Millikin, a 37-year company veteran, has come under deeper
scrutiny in recent months as the recall ballooned into a financial
and public-relations nightmare.  He has said underlings kept him
in the dark about settlements that cost the auto maker millions of
dollars and exposed the safety defects, the Journal related.

                     About Motors Liquidation

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

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

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

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


GLOBAL GEOPHYSICAL: Approved to Pay or Advance Defense Cost
-----------------------------------------------------------
The Bankruptcy Court authorized Global Geophysical Services Inc.,
et al., to pay or advance defense costs under the Debtors'
directors and officers liability insurance policies.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that the Debtors' current and former officers and
directors asked the bankruptcy judge to give them access to the
directors' and officers' insurance to pay their expenses in
defending lawsuits and an investigation by the Securities and
Exchange Commission.

According to the Bloomberg News report, citing court papers, the
provider of seismic data for the oil and gas drilling industry has
$25 million in D&O policies.  Executives of the Missouri City,
Texas-based company said that the insurer with the primary policy
has agreed to advance defense costs and that Global doesn't object
to their request, the report related.

Pursuant to the Court's Order, the insurers are authorized to pay
or advance defense costs of the Global insured parties that have
been or will be incurred in connection with the pending federal
lawsuit, any other shareholder lawsuits arising from or relating
to the facts set forth in the Miller action, the SEC inquiry, and
any other investigative or enforcement proceedings relating to the
Securities and Exchange Commission inquiry.

Payments of defense cost will be paid directly to Global Insured
Parties counsel -- Fulbright & Jaworski LLP and Naker & Hosteler
LLP -- and any experts, consultants and vendors retained in the
Identified Actions.

In a separate filing, the Court authorized the Debtors to form,
register and dissolve non-debtor subsidiaries.  The Court
overruled the objections.

             About Global Geophysical, Autoseis et al.

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

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

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

The Debtors are represented by C. Luckey McDowell, Esq., Omar
Alaniz, Esq., and Ian E. Roberts, Esq., at Baker Botts, LLP, in
Dallas, Texas; and Shelby A. Jordan, Esq., and Nathanial Peter
Holzer, Esq., at Jordan, Hyden, Womble, Culbreth, & Holzer, PC in
Corpus Christi, Texas.  Alvarez & Marsal serves as the Debtors'
restructuring advisors, Fox Rothschild Inc. as financial advisor,
and Prime Clerk as claims and noticing agent.

Judy A. Robbins, the U.S. Trustee for Region 7, has selected seven
creditors to the Official Committee of Unsecured Creditors.  The
Committee tapped Greenberg Traurig, LLP as counsel; and Lazard
Freres & Co. LLC and Lazard Middle Market LLC, as financial
advisors and investment bankers.

The Ad Hoc Group of Noteholders and the DIP Lenders are
represented by Marty L. Brimmage, Jr., Esq., Charles R. Gibbs,
Esq., Michael S. Haynes, Esq., and Lacy M. Lawrence, Esq., at Akin
Gump Strauss Hauer & Feld LLP.

Prepetition secured lender TPG is represented by David M. Bennett,
Esq., Tye C. Hancock, Esq., and Joseph E. Bain, Esq., at Thompson
& Knight LLP; and Adam C. Harris, Esq., Lawrence V. Gelber, Esq.,
David M. Hillman, Esq., and Brian C. Tong, Esq., at Schulte Roth &
Zabel LLP.


GLOBAL GEOPHYSICAL: July 22 Hearing on Cardno Entrix Agreement
--------------------------------------------------------------
The Bankruptcy Court will convene a hearing on July 22, 2014, at
10:00 a.m., to consider Global Geophysical Services, Inc., et
al.'s motion for authorization to enter into a stipulation with
Cardno Entrix.

According to the Debtors, prior to the commencement of the cases,
Wolf Exploration, L.P., hired Global to perform seismic services
in Sheridan and Roosevelt Counties, Montana (the Fort Peck Area).
Global agreed to assist Wolf in obtaining the necessary permits to
drill in the Fort Peck Area.  The Fort Perk Area is home to the
Fort Peck Assiniboine & Sioux Tribes (the Tribes).  As a result,
Global was required to obtain the necessary drilling permits from
the Bureau of Indian Affairs well as the Tribes.  Global was also
required to meet certain standards under the National
Environmental Policy Act.  To obtain the drilling permits and to
comply with NEPA standards, Global was required to locate and
identify culturally sensitive areas (e.g., burial grounds) so that
Wolf's eventual drilling would not disturb such areas.

Accordingly, Global and Cardno Entrix entered into the master
agreement for contractor services and the supplement No. 1 to the
master agreement for contract services effective April 30, 2013,
whereby Cardno agreed to provide archaeological and NEPA services
in the Fort Peck Area.

Under the Contractor Services Agreement, Cardno agreed to perform
a Class III Cultural Resource Inventory on approximately 268
culturally sensitive areas as part of the Fort Peck Reservation
Seismic Project.  The inventory was to include services as
conducting field activities to identify the locations,
categorizing the nature of any cultural sensitivity, photographing
the locations, logging coordinates of the locations, preparing
non-disturbance mitigation recommendations, and providing a report
to Global containing all of the foregoing.  Cardno originally
estimated $540,730 as the cost to complete the Fort Peck
Reservation Seismic Project.

On Jan. 10, 2014, Cardno advised that the initial $540,730
estimate fell short of the anticipated amount required to complete
the Fort Peck Reservation Seismic Project.

The parties agreed that Global would pay an additional $175,000 to
complete the reporting phase of the Fort Peck Reservation Seismic
Project.

Cardno ceased performing services when the Debtor filed a
Chapter 11 petition and Cardno has not completed the report, the
BIA and Tribes have not issued the drilling permits to Global's
customer, Wolf.

After a series of negotiations, the parties agreed to resolve
their dispute by agreeing to these terms:

   1. Cardno will perform various tasks to complete the reporting
      phase of the Fort Peck Reservation Seismic Project;

   2. Global will make certain payments after Cardno achieves
      certain milestones by specified dates and submits the
      required invoice;

   3. the payment from Global for each task is due within
      5 days of Global's receipt of the invoices corresponding
      to the particular task; provided, however, that no payment
      from Global will be due if Global has not received the work
      product associated with the particular task;

   4. the total payments to be made from Global to Cardno
      pursuant to the stipulation will not exceed $103,657; and

   5. the report that Cardno will complete will contain all
      necessary information for each of the 250 Locations,
      including the inventory map with all locations
      appropriately located and annotated.

             About Global Geophysical, Autoseis et al.

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

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

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

The Debtors are represented by C. Luckey McDowell, Esq., Omar
Alaniz, Esq., and Ian E. Roberts, Esq., at Baker Botts, LLP, in
Dallas, Texas; and Shelby A. Jordan, Esq., and Nathanial Peter
Holzer, Esq., at Jordan, Hyden, Womble, Culbreth, & Holzer, PC in
Corpus Christi, Texas.  Alvarez & Marsal serves as the Debtors'
restructuring advisors, Fox Rothschild Inc. as financial advisor,
and Prime Clerk as claims and noticing agent.

Judy A. Robbins, the U.S. Trustee for Region 7, has selected seven
creditors to the Official Committee of Unsecured Creditors.  The
Committee tapped Greenberg Traurig, LLP as counsel; and Lazard
Freres & Co. LLC and Lazard Middle Market LLC, as financial
advisors and investment bankers.

The Ad Hoc Group of Noteholders and the DIP Lenders are
represented by Marty L. Brimmage, Jr., Esq., Charles R. Gibbs,
Esq., Michael S. Haynes, Esq., and Lacy M. Lawrence, Esq., at Akin
Gump Strauss Hauer & Feld LLP.

Prepetition secured lender TPG is represented by David M. Bennett,
Esq., Tye C. Hancock, Esq., and Joseph E. Bain, Esq., at Thompson
& Knight LLP; and Adam C. Harris, Esq., Lawrence V. Gelber, Esq.,
David M. Hillman, Esq., and Brian C. Tong, Esq., at Schulte Roth &
Zabel LLP.


GLOBAL GEOPHYSICAL: July 22 Hearing on Bid to Pay Colombian Taxes
-----------------------------------------------------------------
The Bankruptcy Court will convene a hearing on July 22, 2014, at
10:00 a.m., to consider Global Geophysical Services Inc., et al.'s
motion for authorization to make certain tax payments to the
Colombian taxing authorities.

The Debtors, in their motion, stated that in furtherance of the
cross-border nature of their cases, and to comply with applicable
U.S. and Colombian law, the Debtors intend to pay certain
prepetition taxes owed to certain Colombian taxing authorities,
prior to confirmation of any plan of reorganization.

The Debtors are represented by:

         Omar Alaniz, Esq.
         Ian E. Roberts, Esq.
         C. Luckey McDowell, Esq.
         BAKER BOTTS L.L.P.
         2001 Ross Avenue
         Dallas, TX 75201
         Tel: (214) 953-6500
         Fax: (214) 953-6503
         E-mails: luckey.mcdowell@bakerbotts.com
                  omar.alaniz@bakerbotts.com
                  ian.roberts@bakerbotts.com

              - and -

         Shelby A. Jordan, Esq.
         Nathaniel Peter Holzer, Esq.
         JORDAN, HYDEN, WOMBLE, CULBRETH & HOLZER, P.C.
         Suite 900, Bank of America
         500 North Shoreline
         Corpus Christi, TX 78471
         Tel: (361) 884-5678
         Fax: (361) 888-5555
         E-mails: sjordan@jhwclaw.com
                  pholzer@jhwclaw.com

             About Global Geophysical, Autoseis et al.

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

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

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

The Debtors are represented by C. Luckey McDowell, Esq., Omar
Alaniz, Esq., and Ian E. Roberts, Esq., at Baker Botts, LLP, in
Dallas, Texas; and Shelby A. Jordan, Esq., and Nathanial Peter
Holzer, Esq., at Jordan, Hyden, Womble, Culbreth, & Holzer, PC in
Corpus Christi, Texas.  Alvarez & Marsal serves as the Debtors'
restructuring advisors, Fox Rothschild Inc. as financial advisor,
and Prime Clerk as claims and noticing agent.

Judy A. Robbins, the U.S. Trustee for Region 7, has selected seven
creditors to the Official Committee of Unsecured Creditors.  The
Committee tapped Greenberg Traurig, LLP as counsel; and Lazard
Freres & Co. LLC and Lazard Middle Market LLC, as financial
advisors and investment bankers.

The Ad Hoc Group of Noteholders and the DIP Lenders are
represented by Marty L. Brimmage, Jr., Esq., Charles R. Gibbs,
Esq., Michael S. Haynes, Esq., and Lacy M. Lawrence, Esq., at Akin
Gump Strauss Hauer & Feld LLP.

Prepetition secured lender TPG is represented by David M. Bennett,
Esq., Tye C. Hancock, Esq., and Joseph E. Bain, Esq., at Thompson
& Knight LLP; and Adam C. Harris, Esq., Lawrence V. Gelber, Esq.,
David M. Hillman, Esq., and Brian C. Tong, Esq., at Schulte Roth &
Zabel LLP.


GLOBAL GEOPHYSICAL: Needs 60 Days to Propose a Plan
---------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Global Geophysical Services Inc., a provider of
seismic data for the oil and gas drilling industry, filed a motion
seeking extension of its exclusive plan filing period, saying it
needs two more months to formulate a Chapter 11 plan.

According to the report, if the so-called exclusivity motion is
granted at a July 22 hearing, the new plan-filing deadline will be
Sept. 24.  The company's bankruptcy lenders and the creditors'
committee support the 60-day extension, Mr. Rochelle said, citing
Global.

             About Global Geophysical, Autoseis et al.

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

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

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

The Debtors are represented by C. Luckey McDowell, Esq., Omar
Alaniz, Esq., and Ian E. Roberts, Esq., at Baker Botts, LLP, in
Dallas, Texas; and Shelby A. Jordan, Esq., and Nathanial Peter
Holzer, Esq., at Jordan, Hyden, Womble, Culbreth, & Holzer, PC in
Corpus Christi, Texas.  Alvarez & Marsal serves as the Debtors'
restructuring advisors, Fox Rothschild Inc. as financial advisor,
and Prime Clerk as claims and noticing agent.

Judy A. Robbins, the U.S. Trustee for Region 7, has selected seven
creditors to the Official Committee of Unsecured Creditors.  The
Committee tapped Greenberg Traurig, LLP as counsel; and Lazard
Freres & Co. LLC and Lazard Middle Market LLC, as financial
advisors and investment bankers.

The Ad Hoc Group of Noteholders and the DIP Lenders are
represented by Marty L. Brimmage, Jr., Esq., Charles R. Gibbs,
Esq., Michael S. Haynes, Esq., and Lacy M. Lawrence, Esq., at Akin
Gump Strauss Hauer & Feld LLP.

Prepetition secured lender TPG is represented by David M. Bennett,
Esq., Tye C. Hancock, Esq., and Joseph E. Bain, Esq., at Thompson
& Knight LLP; and Adam C. Harris, Esq., Lawrence V. Gelber, Esq.,
David M. Hillman, Esq., and Brian C. Tong, Esq., at Schulte Roth &
Zabel LLP.


GOLDKING HOLDINGS: Scheduled for Aug. 18 Confirmation Hearing
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Goldking Holdings LLC, an independent oil and gas
exploration and production company with 35 wells in Texas and 12
in Louisiana, can solicit votes on its Chapter 11 reorganization
plan after winning approval of explanatory disclosure materials.

According to the report, after emerging from bankruptcy, Houston-
based Goldking will be owned by Wayzata Opportunities Fund II LP,
which is the current 94% equity owner and secured lender, in
exchange for debt financing the Chapter 11 effort.  The company
requested expedited approval of the disclosure statement, saying
it elected not to proceed with a sale of the business and is
"poised to emerge" from bankruptcy to continue development of its
oil and gas assets, the report related.

                       About Goldking Holdings

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

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

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

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

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

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

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


HANESBRANDS INC: Moody's Affirms 'Ba1' Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service affirmed Hanesbrands Inc.'s Corporate
Family Rating at Ba1 and the company's Probability of Default
Rating at Ba1-PD. Moody's also downgraded the rating on the
company's $1.1 billion senior secured revolver due 2018 to Baa3
from Baa2 and assigned a Baa3 rating to the new Euro term loan due
2021. The company's rating outlook remains stable.

Proceeds from the new Euro term loan (expected to be the Euro
equivalent of US$ 500 million) will be primarily used to fund a
portion of the EUR400 million acquisition price of DB Apparel
announced in June 2014. The loan will be an obligation of a
foreign subsidiary of Hanesbrands, and will also benefit from the
same guarantee and security structure as the company's $1.1
billion senior secured revolver.

The downgrade of the senior secured revolver rating to Baa3 from
Baa2 reflects dilution of the secured revolver's interest in its
collateral as the obligations under the new Euro term loan will be
secured pari-passu. The Baa3 rating on the Euro term loan reflects
that it shares a pari-passu collateral interest with the senior
secured revolver. The Euro term loan also benefits from a modest
degree of structural seniority relative to the revolver with
respect to a portion of Hanesbrands' international assets since
the revolver is not guaranteed by MFB. While this is a positive,
Moody's does not believe the incremental structure benefits are
sufficient to warrant a rating differential between the secured
revolver and the Euro term loan.

The following ratings were affirmed:

Hanesbrands Inc.

Corporate Family Rating at Ba1

Probability of Default Rating at Ba1-PD

Speculative-Grade Liquidity rating at SGL-2

$1 billion senior unsecured notes due 2020 at Ba2, LGD5

The following rating was downgraded:

Hanesbrands Inc.

$1.1 billion senior secured revolver due 2018 to Baa3, LGD2 from
Baa2, LGD2

The following rating was assigned:

MFB International Holdings S.a.r.l (MFB)

Euro term loan due 2021 at Baa3, LGD2

Rating Outlook is Stable for Hanesbrands Inc. and MFB
International Holdings S.a.r.l

Ratings Rationale

Hanesbrands Ba1 Corporate Family Rating reflects the company's
significant scale in the global apparel industry -- pro forma
revenue including the acquisition of Maidenform and DB Apparel is
expected to approach $6 billion -- along with the company's well
known brands and leading share in the inner wear product category.
Also considered is the company's relatively modest leverage and
strong interest coverage. Debt/EBITDA was only 3.2 times and
interest coverage was 4.7 times for the latest 12-month period
ended March 29, 2014. Moody's expects only a modest and temporary
increase in leverage following the DB Apparel acquisition, and
leverage will approach 3 times by the end of 2014. Other favorable
credit considerations include Hanesbrands' double digit operating
margins that are a result of product innovation, a low cost supply
chain, and the company's ability to successfully leverage its
brands. Key concerns include Hanesbrands' significant customer
concentration -- three of the company's largest customers
currently account for more than 50% of its 2013 revenues -- and
its exposure to volatile input costs, such as cotton, which can
have a meaningful and unfavorable impact on earnings and cash
flows. The ratings also incorporate expectations the company is
likely to remain acquisitive as evidenced by its recent history.

The stable rating outlook reflects Moody's expectation that
Hanesbrands will be able to sustain its high operating margins and
that it will continue to make progress achieving cost savings
associated with the Maidenform acquisition that occurred in
October 2013 and the DB Apparel acquisition, which is expected to
close as soon as the third quarter of 2014 . The stable rating
outlook does not anticipate a further material reduction in
leverage given Moody's view that the company will use its free
cash flow to fund acquisitions and/or share repurchases as opposed
to debt repayment.

Further rating improvement is limited by the significant amount of
secured debt in Hanesbrands' capital structure, and by the
company's current financial policy that Moody's believes targets
credit metrics at a level too high for an investment grade rating.
A higher rating would require that Hanesbrands demonstrate the
ability and willingness to maintain debt/EBITDA below 3.0 times as
well as materially reduce its reliance on secured financing.

Ratings could be lowered if the company experienced market share
losses or brand erosion that resulted in negative trends in
revenues or operating earnings. Ratings could also be lowered if
Hanesbrands were to use debt more aggressively than it has in the
past to fund large acquisitions, or if the company were to make
share repurchases in an amount materially above free cash flow.
Quantitatively, ratings could be lowered if, for any reason, it
appears that debt/EBITDA will rise to and remain at or above 3.75
times for an extended period of time.

Headquartered in Winston-Salem, NC, Hanesbrands is a manufacturer
and distributor of basic apparel products under brands that
include Hanes, Champion, Playtex, Bali, L'Eggs, Maidenform and
Just My Size. Annual revenues are expected to approach $6 billion
pro-formal for the acquisitions of Maidenform and DB Apparel.


HANESBRANDS INC: S&P Retains 'BB' Corp. Credit Rating
-----------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BBB-' rating to
North Carolina-based Hanesbrands Inc.'s proposed EUR362.3 million
secured term loan due 2021.  The borrower will be MFB
International Holdings S.a.r.l., a wholly-owned subsidiary of
Hanesbrands, and Hanesbrands will be a guarantor.  The recovery
rating on the secured the term loan is '1', indicating S&P's
expectation for very high (90%-100%) recovery in the event of a
default.  The 'BB' corporate credit rating and 'BB' unsecured debt
ratings remain unchanged.  The outlook is stable.

"We expect the company to use the proceeds from the term loan to
finance its pending roughly $550 million acquisition of DBA Lux
Holdings S.A, a European intimate apparel and underwear company.
We believe the addition of DBA Lux will be complimentary to
Hanesbrands' existing businesses and expand its international
platform.  However, given the relatively modest size of the
business, we do not believe it will materially change the
company's business risk profile," S&P said.

"While we estimate pro forma leverage will increase modestly to
the low- to mid-3x area (compared with 3.1x for the 12 months
ended March 31, 2014) upon consummation of the acquisition, we
expect pro forma leverage to decline to the 3x area by the end of
2014.  In particular, we believe the company will reduce debt
levels in the second half of 2014 with cash flow from operations,
as it has done historically over the past several years.  We
anticipate the acquisition transaction will be completed during
third quarter 2014," S&P added.

The ratings on Hanesbrands reflect the company's good operating
cash flow and S&P's expectation for credit metrics to remain in
line with its indicative ratios for a "significant" financial risk
profile, including leverage in the 3x to 4x range.  Also, S&P
believes the company's business risk profile continues to be
"fair," reflecting its view the company will maintain its good
market position and operating scale in the highly competitive
apparel sector and the commodity-like nature of some of its
products.

RATINGS LIST

Hanesbrands Inc.
Corporate credit rating                 BB/Stable/--

New Ratings
MFB International Holdings S.a.r.l.
Senior secured
  EUR362.3 million term loan due 2021    BBB-
   Recovery rating                       1


HDGM ADVISORY: Judge Adjourns Motion to Convert Case Indefinitely
-----------------------------------------------------------------
U.S. Bankruptcy Judge James Carr has issued an order adjourning
indefinitely the motion to appoint a bankruptcy trustee in HDGM
Advisory Services LLC's Chapter 11 case and the motion to convert
the case to a Chapter 7 liquidation.

Both motions were filed by GPIF-I Equity Co., LTD and GPIF-I
Finance Co., LTD.

In their motion to appoint a bankruptcy trustee, the funds cited
HDGM's questionable conduct before its collapse as basis for the
appointment.  The funds alleged that the company resorted to
bankruptcy filing to derail their effort to pursue their claims.

Meanwhile, the funds argued that converting HDGM's bankruptcy case
to a Chapter 7 liquidation is the most appropriate option since
the company has no prospect of rehabilitation.

                   About HDGM Advisory Services

HDGM Advisory Services, LLC, and HDG Mansur Investment Services,
Inc. sought Chapter 11 bankruptcy protection (Bankr. S.D. Ind.
Case No. 14-04797 and 14-04798) in Indianapolis, Indiana, on
May 21, 2014.  On May 28, 2014, the Hon. James M. Carr directed
the joint administration the cases of HDGM Advisory Services, LLC,
and HDG Mansur Investment Services, Inc., under the lead case --
HDGM Advisory, Case No. 14-04797.

HDGH Advisory disclosed $20,257,001 in assets and $7,991, 590 in
liabilities as of the Chapter 11 filing.  HDG Mansur disclosed
$20,454,819 in assets and $12,377,542 in liabilities.  According
to a court filing, the Debtors don't have any secured creditors.

The cases are assigned to Judge James M. Carr.

The Debtors have tapped Michael W. Hile, Esq., Christine K.
Jacobson, Esq., and Henry Mestetsky, Esq., at Katz & Korin PC, as
counsel.

According to the docket, the deadline for governmental entities to
file claims is on Nov. 17, 2014.

An affiliate of the Debtors, Hamilton Proper Partners Golf
Partnership, L.P., sought bankruptcy protection (Bankr. S.D. Ind.
Case NO. 14-00461) on Jan. 24, 2014.


HDGM ADVISORY: Hearing on Trustee Motion Adjourned Indefinitely
---------------------------------------------------------------
Bankruptcy Judge James M. Carr adjourned indefinitely, the hearing
to consider the motion filed by GPIF-I Equity Co., Ltd. and GPIF-I
Finance Co., Ltd., for appointment of a Chapter 11 trustee in HDGM
Advisory Services, LLC's bankruptcy case.

The adjournment is subject to the Funds' ability to renew the
trustee motions (a) based on any breach of the agreed entry or (b)
in any event, after Sept. 30, 2014, and for all other just and
appropriate relief.

As reported in the Troubled Company Reporter on July 2, 2014, the
Funds are real estate investments firms for which the Debtor acted
as manager and the Debtor's principal, Harold Garrison, acted as
CEO and chairman of the Board of Directors.  The Funds sued the
Debtor and Garrison in federal court alleging misappropriation of
nearly $6 million.  The Funds received a judgment of nearly $6.8
million prior to the date of the Debtor's Chapter 11 petition.
Some additional related claims are still pending.  A criminal
investigation by the U.S. Attorney's office is also underway.

The Funds contend that the Debtor has availed itself of bankruptcy
protection to delay the Funds' ability to collect on their claims
against the Debtor and Garrison.  The Debtor has admitted to
having minimal business operations and few assets.  Since Garrison
has not personally filed for bankruptcy, he is free to dispose of
personal assets that could be subject to a judgment against him.

The Funds contend that appointment of a trustee is warranted in
the Debtor's case either (1) for "cause" under Sec. 1104(a) of the
Bankruptcy Code, or (2) because the appointment is in the best
interest of the estate and creditors under Sec. 1104(a)(2) of the
Code.  The Funds contend that cause exists based on the Debtor's
prepetition conduct which included fraud, dishonesty,
incompetence, and gross mismanagement.  Additionally, the Funds
contend that appointment of a trustee is in the best interests of
the estate and creditors because the Debtor cannot be trusted to
exercise its fiduciary duties to the estate and creditors.

Alternatively, the Funds seek to have the case converted to
Chapter 7 liquidation.

GPIF-I Equity Company LTD and GPIF-I Finance Company LTD are
represented by Thomas C. Scherer, Esq. and Whitney L. Mosley, Esq.
at Bingham, Greenebaum, Doll, LLP of Indianapolis, Indiana.

                   About HDGM Advisory Services

HDGM Advisory Services, LLC, and HDG Mansur Investment Services,
Inc. sought Chapter 11 bankruptcy protection (Bankr. S.D. Ind.
Case No. 14-04797 and 14-04798) in Indianapolis, Indiana, on
May 21, 2014.  On May 28, 2014, the Hon. James M. Carr directed
the joint administration the cases of HDGM Advisory Services, LLC,
and HDG Mansur Investment Services, Inc., under the lead case --
HDGM Advisory, Case No. 14-04797.

HDGH Advisory disclosed $20,257,001 in assets and $7,991, 590 in
liabilities as of the Chapter 11 filing.  HDG Mansur disclosed
$20,454,819 in assets and $12,377,542 in liabilities.  According
to a court filing, the Debtors don't have any secured creditors.

The cases are assigned to Judge James M. Carr.

The Debtors have tapped Michael W. Hile, Esq., Christine K.
Jacobson, Esq., and Henry Mestetsky, Esq., at Katz & Korin PC, as
counsel.

According to the docket, the deadline for governmental entities to
file claims is on Nov. 17, 2014.

An affiliate of the Debtors, Hamilton Proper Partners Golf
Partnership, L.P., sought bankruptcy protection (Bankr. S.D. Ind.
Case NO. 14-00461) on Jan. 24, 2014.


HEARING HELP EXPRESS: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Hearing Help Express, Inc.
           dba Hearing Help Express
           dba Hear Direct
           dba Simply Batteries
           dba Moolah by Mail
           dba Eco-Gold Batteries
           dba Eco-Gold Hearing Products
           dba Lotus Express
        105 North 1st Street
        DeKalb, IL 60115

Case No.: 14-82161

Nature of Business: Health Care

Chapter 11 Petition Date: July 14, 2014

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

Judge: Hon. Thomas M. Lynch

Debtor's Counsel: James E Stevens, Esq.
                  BARRICK, SWITZER, LONG, BALSLEY & VAN EVERA
                  6833 Stalter Drive
                  Rockford, Il 61108
                  Tel: 815-962-6611
                  Fax: 815-962-1758
                  Email: jimstevens@bslbv.com
                         jstevens@bslbv.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by James E. Hovis, CEO and chairman of the
Board.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb14-82161.pdf


HERITAGE PLACE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Heritage Place Gallery of Floors Inc.
        105 Pleasant Drive
        Aliquippa, PA 15001

Case No.: 14-22837

Chapter 11 Petition Date: July 14, 2014

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

Debtor's Counsel: Robert O Lampl, Esq.
                  ROBERT O LAMPL, ATTORNEY AT LAW
                  960 Penn Avenue, Suite 1200
                  Pittsburgh, PA 15222
                  Tel: 412-392-0330
                  Fax: 412-392-0335
                  Email: rol@lampllaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Elaine K. Deluco, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pawb14-22837.pdf


HG SPEC: Chapter 15 Case Summary
--------------------------------
Chapter 15 Petitioner: Jean Pichette

Chapter 15 Debtor: HG Spec Inc.
                   1120, boul, Michele-Bohec
                   Blainville, QC J7C 5N5
                   Canada

Chapter 15 Case No.: 14-41502

Chapter 15 Petition Date: July 14, 2014

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

Chapter 15
Petitioner's Counsel: Charmaine A. Ferguson, Esq.
                      SHEEHY, WARE & PAPPAS, P.C.
                      909 Fannin St., Ste. 2500
                      Houston, TX 77010
                      Tel: 713-951-1165
                      Fax: 713-951-1199
                      Email: cferguson@sheehyware.com

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

Estimated Liabilities: $500,000 to $1 million


HOYT TRANSPORTATION: Plan Filing Exclusivity Extended to Aug. 12
----------------------------------------------------------------
Hoyt Transportation Corp. sought and obtained a third extension of
its exclusivity period to file a Chapter 11 plan of reorganization
and to solicit acceptances to that Plan.  The extension would make
the deadline for submitting a Plan of Reorganization on August 12,
2014 and the deadline for soliciting acceptances to the Plan on
October 10, 2014.

The Debtor said its request will allow time to resolve outstanding
back-pay claims which arose from a new collective bargaining
agreement which resulted from an industry-wide ruling by the
National Labor Relations Board.

                   About Hoyt Transportation

Brooklyn, New York-based Hoyt Transportation Corp. filed a
Chapter 11 petition (Bankr. E.D.N.Y. Case No. 13-44299) on
July 13, 2013, estimating at least $10 million in assets and
liabilities.  The Debtor is represented by Kevin J. Nash, Esq., at
Goldberg Weprin Finkel Goldstein LLP.

Brooklyn-based Hoyt specializes in transportation for children
with disabilities.  Hoyt operated 350 buses until the contract
with the Department of Education expired.


IDAHO BANCORP: D.L. Evans Wins at Auction
-----------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Idaho Bancorp received approval from the U.S.
Bankruptcy Court in Boise, Idaho, to sell the bank subsidiary
Idaho Banking Co. to D.L. Evans Bancorp.  According to the report,
as the the result of an auction, Idaho-based D.L. Evans will pay
$10 million, almost four times the opening bid of $2.6 million bid
from Banner Bank. D.L. Evans will assume the bank subsidiary's
rights under a tax-sharing agreement.

                       About Idaho Bancorp

Idaho Bancorp -- http://www.idahobankingco.com-- is headquartered
in Boise, Idaho, and is the parent company of Idaho Banking
Company, a state-chartered commercial bank and member of the
Federal Reserve System, which was organized in 1996 and operates
four branch offices.  At December 31, 2013, Idaho Banking Company
had $100 million in assets, $62 million in loans and $96 million
in deposits.  The Company serves clients throughout southwestern
Idaho.

Idaho Bancorp filed a Chapter 11 bankruptcy petition (Bankr. D.
Idaho Case No. 14-00662) on April 24, 2014.  The case is assigned
to Judge Terry L Myers.  The Debtor has tapped Noah G. Hillen,
Esq., in Boise, Idaho, as counsel.  The Debtor scheduled $4.32
million in total assets and $7.23 million in liabilities.


KILROY REALTY: Moody's Affirms 'Ba1' Preferred Stock Rating
-----------------------------------------------------------
Moody's Investors Service affirmed Kilroy Realty Corporation's
preferred stock rating at Ba1, and affirmed the issuer and senior
unsecured debt rating of Kilroy Realty, L.P. at Baa3. The outlook
was revised to positive from stable.

Ratings Rationale

The revised outlook reflects the continued positive operating
momentum in Kilroy's core office markets. The outlook incorporates
Moody's expectation that the REIT's credit metrics will continue
to strengthen, specifically net debt to EBITDA and fixed charge
coverage, as development projects are completed and delivered over
the course of the next two years as outlined to Moody's.

The current ratings reflect the REIT's strong operating
performance and expanding market position along the West Coast,
high quality unencumbered asset base and moderate effective
leverage. These strengths are counterbalanced by the REIT's
aggressive development growth strategy and material geographic
concentration in its California sub-markets.

Over the last several years, Kilroy Realty has enhanced the
quality of its portfolio by expanding its geographic footprint
into San Francisco and the greater Seattle market, in addition to
selling lower-growth assets and re-deploying the capital into
better assets with more upside. Kilroy's robust operating
performance is reflected in its solid occupancy levels, 92%
occupied as of 1Q14, as well as high-single digit NOI growth year
over year. Moody's also notes that development is a core
competency of the REIT with $1.5 billion under construction as of
the end of the first quarter. Four of the six development projects
are fully pre-leased to quality tenants under lease terms of 12
years or more, a plus.

The ratings are further supported by the REIT's adequate liquidity
profile. Kilroy recently amended its $500 million unsecured credit
facility, extending the maturity date to July 2019. The company
has $260 million and $395 million of debt coming due in 2014 and
2015, respectively. Debt maturities are manageable in Moody's view
considering Kilroy's proven ability to access debt and equity
capital.

Upward rating movement would require net debt to EBITDA closer to
6.0x, effective leverage closer to 40%, fixed charge coverage
closer to 3.0x with the prospect of sustainability, and
maintenance of unencumbered assets of at least 70% of gross
assets.

A return to a stable outlook would be predicated upon difficulties
in leasing or completing its current development pipeline.
Downward pressure would also occur if net debt to EBITDA
approaches 7.0x, fixed charge coverage falls below 2.5x, and
secured debt rises to 20% or more of gross assets.

The following ratings were affirmed with a positive outlook:

Kilroy Realty Corporation -- preferred stock at Ba1 and preferred
shelf at (P)Ba1

Kilroy Realty, L.P. -- senior unsecured debt at Baa3; senior
unsecured debt shelf at (P)Baa3; senior subordinated shelf at
(P)Ba1; subordinated shelf at (P)Ba1

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

Kilroy Realty Corporation [NYSE: KRC] is a real estate investment
trust headquartered in Los Angeles, CA and is an owner, developer
and acquirer of office properties located along the West Coast.
The company's properties are located in Los Angeles, Orange
County, San Diego County, greater Seattle, and the San Francisco
Bay Area.


LEHMAN BROTHERS: Protocol to Resolve Indemnification Claims Okayed
------------------------------------------------------------------
Judge Shelley Chapman approved the procedure proposed by Lehman
Brothers Holdings Inc. to resolve its indemnification claims
against banks and mortgage lenders.

The hearing on the proposed procedure solely with respect to the
mortgage loan sellers that filed objections was adjourned to
July 16.  A copy of Judge Chapman's order is available for free
at http://is.gd/tTzgOP

               Proposed Indemnification Procedure

LBHI filed a motion seeking authority from the U.S. Bankruptcy
Court for the Southern District of New York to implement what it
calls "alternative dispute resolution" procedure to resolve its
indemnification claims against banks and mortgage lenders.

The company holds indemnification claims tied to mortgage loans
it purchased from approximately 3,000 banks and mortgage lenders.

Lehman's recent settlement agreements with Freddie Mac and Fannie
Mae allowed it to require those banks and mortgage lenders to
indemnify the company for losses or damages suffered after
purchasing the mortgage loans.

Early this year, Lehman settled Freddie Mac's $1.2 billion claim
and Fannie Mae's $18.9 billion claim, freeing up billions of
dollars for creditors.

Freddie Mac's claim stemmed from two loans it extended to Lehman
prior to its bankruptcy filing in 2008.  Meanwhile, Fannie Mae
filed an $18.9 billion claim against the company to recover
losses from its investments in residential mortgage-backed
securities.

Attorney for Lehman, William Maher, Esq., at Wollmuth Maher &
Deutsch LLP, in New York, said the proposed procedure would be
the "most efficient initial means to enforce [Lehman's] right to
reimbursement and indemnification" given the volume of the
claims.

Mr. Maher said the company expects to obtain "substantial
recoveries," which would be used to pay the claims of its
creditors.

                        Objection Filed

PHH Home Loans, LLC and several other mortgage lending companies
are opposing Lehman Brothers Holdings Inc.'s bid to resolve its
indemnification claims against them through what it calls an
"alternative dispute resolution procedure."

Lehman holds claims for losses or damages it suffered after
purchasing mortgage loans from approximately 3,000 banks and
mortgage lenders.  Its recent settlement agreements with Freddie
Mac and Fannie Mae allowed it to require those banks and mortgage
lenders to indemnify the company.

PHH's lawyer Francis Riley, III, Esq., at Saul Ewing LLP, in
Princeton, New Jersey, criticized the proposed procedure, saying
it would deny the mortgage lender its "due process rights."

"If [Lehman] wishes to assert a claim against PHH, the only
proper vehicle is an adversary proceeding or other litigation in
a court of competent jurisdiction," Mr. Riley said in a court
filing.

"In such litigation, PHH would have the protections of court
procedural rules to protect itself from meritless claims,"
Mr. Riley said.

Douglas Spelfogel of Foley & Lardner LLP said some of the
mortgage lenders represented by the New York-based law firm are
defendants in lawsuits filed by Lehman in which the latter raised
indemnification claims tied to the sale of mortgage loans.

Mr. Spelfogel said those mortgage lenders have already incurred
litigation expenses and should no longer be subjected to the
procedure proposed by Lehman.

The mortgage lenders represented by Foley & Lardner include First
California Mortgage Co., Mountain West Financial Inc., Republic
Mortgage Home Loans LLC and Sun American Mortgage Co.

The proposed procedure also drew flak from DHI Mortgage Co. Ltd.,
MortgageIT Inc., Plaza Home Mortgage Inc., SecurityNational
Mortgage Co. and a group of mortgage lending companies
represented by Miami-based law firm Bilzin Sumberg Baena Price &
Axelrod, LLP.

The mortgage lenders argued, among other things, that they have
already settled the claims and that Lehman did not identify the
lenders that will be bound by the procedure.

Bilzin Sumberg can be reached at:

   Philip R. Stein, Esq.
   Mindy A. Mora, Esq.
   BILZIN SUMBERG BAENA PRICE
   & AXELROD, LLP
   1450 Brickell Avenue
   Suite 2300
   Miami, Florida 33131
   Phone: (305) 350-2414
   Email: pstein@bilzin.com
          mmora@bilzin.com

Foley & Lardner can be reached at:

   Douglas E. Spelfogel, Esq.
   Derek L. Wright, Esq.
   FOLEY & LARDNER LLP
   90 Park Avenue
   New York, New York 10016
   Phone: (212) 682-7474
   Fax: (212) 687-2329
   Email: dspelfogel@foley.com
          dlwright@foley.com

DHI Mortgage is represented by:

   Daniel F. Markham, Esq.
   Daniel S. Weinberger, Esq.
   GIBBONS, P.C.
   One Pennsylvania Plaza
   New York, NY 10119
   Phone: (212) 613-2043
   Fax: (212) 554-9643
   Email: dmarkham@gibbonslaw.com
          dweinberger@gibbonslaw.com

PHH Home is represented by:

   Francis X Riley, III, Esq.
   Lucian B. Murley, Esq.
   SAUL EWING LLP
   750 College Road East, Suite 100
   Princeton, New Jersey 08540
   Phone: (609) 452-3150
   Fax: (609) 514-3744
   Email: friley@saul.com
          lmurley@saul.com

Plaza Home is represented by:

   Michael O. Ware, Esq.
   Joaquin M. C de Baca, Esq.
   MAYER BROWN LLP
   1675 Broadway
   New York, New York 10019
   Phone: (212) 506-2500
   Email: mware@mayerbrown.com
          jcdebaca@mayerbrown.com

SecurityNational is represented by:

   Arthur Goldstein, Esq.
   Jill Makower, Esq.
   SPIZZ COHEN & SERCHUK, P.C.
   425 Park Avenue
   New York, New York 10022
   Phone: (212) 754-9400
   Fax: (212) 754-9400
   Email: agoldstein@scsnylaw.com
          jmakower@scsnylaw.com

                      About Lehman Brothers

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

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

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

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

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

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion (US$33
billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)



LEHMAN BROTHERS: July 31 Deadline for LB UK Creditors' Debt Proofs
------------------------------------------------------------------
The joint administrators of Lehman Brothers Holdings plc and
Lehman Brothers UK Holdings Limited announced their plan to make
a distribution (by way of paying an interim dividend) to the
companies' preferential creditors and unsecured, non-preferential
creditors.

Proofs of debt may be lodged at any point up to July 31, the last
date for proving claims, however, creditors are requested to
lodge their proofs of debt at the earliest possible opportunity.

Persons so proving are required, if so requested, to provide such
further details or produce such documents or other evidence as
may appear to the joint administrators to be necessary.

The joint administrators will not be obliged to deal with proofs
lodged after the last date for proving but they may do so if they
think fit.

The joint administrators intend to make such distribution within
the period of two months from the last date for proving claims.

For further information, contact details, and proof of debt
forms, please visit: http://is.gd/iVJdn6or http://is.gd/Tg3gx2

                      About Lehman Brothers

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

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

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

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

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

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion (US$33
billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEHMAN BROTHERS: LBEL Creditors July 24 Deadline to Prove Claims
----------------------------------------------------------------
DY Schwarzman, the joint administrator of Lehman Brothers Europe
Limited, said the company intends to make a third dividend
distribution to its preferential creditors and unsecured
non-preferential creditors.

The deadline for filing proofs of debt is July 24.  LBEL
creditors, however, are requested to file their proofs of debt at
the earliest possible opportunity.

Creditors are required to provide further details or produce the
necessary documents to prove their claims.  DY Schwarzman will
not be obliged to deal with proofs lodged after the last date for
proving.

DY Schwarzman plans to make the distribution within two months
from the last date for proving claims.

For further information, contact details, and proof of debt
forms, please visit: http://is.gd/1fgWfz

                      About Lehman Brothers

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

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

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

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

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

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion (US$33
billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEHMAN BROTHERS: Workers' ESOP Suit Revived in Supreme Court
------------------------------------------------------------
Employees of Lehman Brothers Holdings Inc. who invested part of
their incomes in the company's stock had their lawsuit revived by
the U.S. Supreme Court, according to a July 2 report by Bloomberg
News.  The high court on July 1 reinstated the class suit filed
by the Lehman employees and sent it back to the appeals court.

In October 2008, Lehman workers sued company executives who
served as trustees of the employee stock ownership plan, or ESOP.
They alleged that the plan's trustees violated their fiduciary
duties by failing to sell Lehman stock when they should have
known the firm was in dire financial condition.

The district court dismissed the suit, and the U.S. Court of
Appeals in Manhattan reached the same result last July. The
Lehman workers sought an appeal from the Supreme Court, according
to the Bloomberg report.

The Lehman case in the Supreme Court is Rinehart v. Akers,
13-830, U.S. Supreme Court (Washington). The appeal in the court
of appeals is Rinehart v. Akers, 11-04232, U.S. Court of Appeals
for the Second Circuit (Manhattan).


LILY GROUP: Bid to Substantially Consolidate Cases Denied
---------------------------------------------------------
Bankruptcy Judge Frank J. Otte denied the motion to substantively
consolidate the Chapter 11 cases of Lily Group, Inc.

As reported in the Troubled Company Reporter on June 19, 2014,
four individual creditors of VHGI Holdings, Inc., under Case No.
14-80005-FJO-11, filed in April 2014, a motion to substantively
consolidate the VHGI cases with the bankruptcy case of Lily Group,
Inc.

VHGI is the sole shareholder of VHGI Coal, Inc., who in turn is
the sole shareholder of Lily Group.

The VHGI Creditors allegedly lent money to VHGI.  In exchange, the
Creditors said they were given a senior promissory note that
granted senior rights to payment from VHGI, shares of stock of
VHGI, and even granted at least two of the Creditors a security
interest in all of VHGI's assets.

The VHGI Creditors asserted that because some or all of the VHGI
Borrowed Funds were used in Lily Group's operations (and even
though they knew the VHGI Borrowed Funds were to be lent by VHGI
to Lily Group), the Bankruptcy Court presiding over Lily Group's
case should enter an order declaring that VHGI and Lily Group are,
in essence, one company and that, therefore, VHGI's bankruptcy
case and Lily Group's proceeding should be substantively
consolidated.

Objections to the motion were filed by the Debtor, LC Energy LLC,
and the Official Committee of Unsecured Creditors.

The Court said that the movant failed to put forth sufficient
evidence or argument to support the motion.

                        About Lily Group Inc.

Lily Group Inc., the developer of an open-pit coal mine in Green
County, Indiana, filed a petition for Chapter 11 reorganization
(Bankr. S.D. Ind. Case No. 13-81073) on Sept. 23, 2013, in Terre
Haute, estimating assets and debt both exceeding $10 million.

Jefferson & Brewer LLC has been designated as the Debtor's chief
restructing officer.

The Debtor is represented by Courtney Elaine Chilcote, Esq., and
David R. Krebs, Esq., at Tucker, Hester, Baker & Krebs, LLC, in
Indianapolis, Indiana.

U.S. Trustee Nancy J. Gargula appointed four members to the
official committee of unsecured creditors in the Chapter 11 cases
of Lily Group Inc. Faegre Baker Daniels LLP represents the
Committee.


LOVE CULTURE: Retailer Planning New Jersey Filing
-------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that Love Culture Inc., an 80-store women's-wear
retailer, is preparing to file under Chapter 11 in New Jersey,
according to three people with knowledge of the matter.  According
to the report, citing the people, professionals working for Love
Culture are Lowenstein Sandler LLP, Consensus Advisors and
PricewaterhouseCoopers LLP.


LTHM HOUSTON: Case Summary & 20 Top Unsecured Creditors
-------------------------------------------------------
Debtor: LTHM Houston - Operations, LLC
           dba St. Anthony's Hospital
        2807 Little York Road
        Houston, TX 77093

Case No.: 14-33899

Nature of Business: Health Care

Chapter 11 Petition Date: July 14, 2014

Court: United States Bankruptcy Court
       Southern District of Texas (Houston)

Judge: Hon. Marvin Isgur

Debtor's Counsel: Troy Ted Tindal, Esq.
                  TINDAL LAW FIRM
                  17225 El Camino Real, Suite 190
                  Houston, TX 77058
                  Tel: 832-691-1519
                  Email: troy@tindallawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Jason LeDay, manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb14-33899.pdf


M. A. NEGM: Case Summary & 15 Unsecured Creditors
-------------------------------------------------
Debtor: M. A. Negm, LLC
        302 Main Street
        Somersworth, NH 03878

Case No.: 14-11412

Chapter 11 Petition Date: July 14, 2014

Court: United States Bankruptcy Court
       District of New Hampshire (Manchester)

Debtor's Counsel: William S. Gannon, Esq.
                  WILLIAM S. GANNON PLLC
                  889 Elm Street, 4th Floor
                  Manchester, NH 03101
                  Tel: (603) 621-0833
                  Fax: (603) 621-0830
                  Email: bgannon@gannonlawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Michael A. Negm, 100% member.

A list of the Debtor's 15 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nhb14-11412.pdf


MCGRAW-HILL GLOBAL: Moody's Hikes 1st Lien Debt Rating to B1
------------------------------------------------------------
Moody's Investors Service assigned Caa1 to the proposed $400
million HoldCo notes of MHGE Parent, LLC ("MHGE") and MHGE Parent
Finance, Inc., the parent entities of McGraw-Hill Global Education
Holdings, LLC. Net proceeds from the HoldCo notes will fund a $388
million special dividend. In addition, Moody's upgraded existing
debt instruments of McGraw-Hill Global Education Holdings, LLC to
B1 from B2 due to the cushion provided by the proposed HoldCo
notes to the outstanding senior secured debt. Moody's will
withdraw the B2 Corporate Family Rating (CFR), B2-PD Probability
of Default Rating (PDR) and the SGL-2 Speculative Grade Liquidity
(SGL) Rating from McGraw-Hill Global Education Holdings, LLC and
assign the CFR, PDR and SGL to MHGE in conjunction with this
transaction. The outlook is stable. These rating actions are
subject to review of final documentation and no meaningful change
in conditions of the proposed transaction as advised to Moody's.

Assignments:

Issuer: MHGE Parent, LLC

Corporate Family Rating: Assigned B2

Probability of Default Rating: Assigned B2-PD

Speculative Grade Liquidity (SGL) Rating: Assigned SGL-2

Issuer: MHGE Parent, LLC and MHGE Parent Finance, Inc.

NEW $400 million HoldCo Notes: Assigned Caa1, LGD6

Upgraded:

Issuer: McGraw-Hill Global Education Holdings, LLC

$240 million 1st lien senior secured revolver due 2018: Upgraded
to B1, LGD3 from B2, LGD3

1st lien senior secured term loan due 2019 ($686 million
outstanding): Upgraded to B1, LGD3 from B2, LGD3

$800 million of 9.75% senior secured notes due 2021: Upgraded to
B1, LGD3 from B2, LGD3

Outlook Actions:

Issuer: MHGE Parent, LLC

Outlook is Stable

Ratings Rationale

MHGE's B2 Corporate Family Rating reflects its good market
position and broad range of product offerings in higher education
publishing tempered by the proposed increase in leverage,
challenging market conditions, and event risks related to
ownership by a financial sponsor, Apollo Global Management, LLC
("Apollo"). MHGE's product capabilities position the company to
transition the business as higher education publishing continues
to shift to digital offerings from traditional formats including
printed textbooks. The company nevertheless faces operating
headwinds over the next 12 to 18 months from soft higher education
enrollment, student efforts to minimize costs through used and
rental textbooks, and the risk of revenue disruptions as the
digital transition continues to gain momentum. Moody's believes
transitioning the revenue base to digital from print will not be
smooth as major competitors will act aggressively to gain traction
with their own digital offerings, and as schools and students
balance adoption with efforts to minimize costs. Despite these
challenges, the company has been able to grow cash revenue from
digital offerings and increase the percentage of digital cash
revenue to 27% of total cash revenue in 2013 (or 35% excluding the
custom print segment) which compares favorably to its peer group.
The company's pro forma debt-to-EBITDA leverage is high for the B2
CFR at 5.4x as of March 31, 2014 (incorporating Moody's standard
adjustments and cash pre-publication costs as an expense, 5.1x
giving partial benefit to run rate impact of cost savings that are
already actioned but not yet realized) and has increased from 4.4x
as of FYE 2013 due to the proposed addition of $400 million of
HoldCo notes to fund a special dividend to Apollo. MHGE is
performing better than Moody's initial expectations when Apollo
acquired McGraw-Hill Education in March 2013. Cash revenue of $1.3
billion is pacing just ahead of Moody's expectations and effective
cost controls have contributed to better than expected free cash
flow generation through March 2014. Moody's  note the company has
made good progress in establishing itself as a stand-alone
operation since being separated from its former parent, McGraw-
Hill Companies, Inc. Management indicates that it has completed
actions to achieve up to an estimated $55 million of expense
savings or more than two-thirds of its $79 million savings target
through 2015. Ratings reflect Moody's expectation that MHGE will
consistently reduce leverage to less than 5.0x which is critical
to maintain the B2 CFR. Absent acquisitions, Moody's expects the
company will generate at least mid-single digit percentage free
cash flow-to-debt.

Moody's believes the potential for another leveraging transaction
by Apollo increases as MHGE's cash flow rises given the financial
sponsor's track record, evidenced by the proposed transaction and
previously with its sister company, McGraw-Hill School Education,
which funded a $445 million dividend in December 2013.

The stable rating outlook reflects Moody's view that MHGE's EBITDA
will grow in the low single digit percentage range in 2014 due
largely to implementation of further cost reductions as revenue
growth will be muted by challenging market conditions through
2015. Despite higher interest expense from the new HoldCo notes,
Moody's  expect MHGE will maintain good liquidity over the next 12
months and generate at least mid single-digit percentage free cash
flow-to-debt while reducing debt balances through required
amortization, excess cash flow sweeps, or potential voluntary
prepayments. Moody's believes the company will have sufficient
restricted payment capacity to fund current interest payments on
the new HoldCo notes to avoid high coupon accretion. The outlook
does not include significant debt financed acquisitions or another
large distribution.

MHGE's ratings could be downgraded if the company's revenue base
erodes due to soft market conditions or an inability to manage the
transition of the higher education market to digital offerings.
Weaker free cash flow generation, Moody's expectations for debt-
to-EBITDA being sustained above 5.0x (including Moody's standard
adjustments and cash pre-publication costs as an expense),
leveraging acquisitions, unexpected shareholder distributions, or
a deterioration of liquidity could also result in a downgrade. An
upgrade of the corporate family rating of MHGE is not likely given
Apollo's track record for significant cash distributions from MHGE
as well as from its sister company, McGraw-Hill School Education
Holdings, LLC.

The principal methodology used in this rating was the Global
Publishing Industry Methodology 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.

MHGE Parent, LLC, headquartered in New York, NY, is a global
provider of educational materials and learning services targeting
the higher education, professional learning and information
markets with content, tools and services delivered via digital,
print and hybrid offerings. A subsidiary of a publishing company
that was formed in 1909, MHGE is one of the three largest U.S.
publishers focusing on the higher education market with
approximately $1.3 billion of annual cash revenue. MHGE has shared
services arrangements with its smaller sister company, McGraw-Hill
School Education Holdings, LLC ("MHSE"), a provider of digital,
print and hybrid instructional materials, and assessment offerings
for the K-12 market. MHGE and MHSE were acquired by funds
affiliated with Apollo Global Management, LLC in March 2013 for a
combined $2.4 billion purchase price and are both wholly-owned
subsidiaries of MHE US Holdings, LLC. MHGE (allocated 80% of the
combined purchase price) does not guarantee or provide any
collateral to the financing of MHSE (allocated 20% of the combined
purchase price) and MHSE does not guarantee or provide collateral
to the financing of MHGE.


MCGRAW-HILL GLOBAL: S&P Affirms 'B+' Rating on 1st Lien Debt
------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B+' corporate
credit rating on McGraw-Hill Global Education Holdings LLC (MHGE).
The outlook is stable.

At the same time, S&P affirmed its 'B+' issue-level ratings on all
of MHGE's existing first-lien senior secured debt, which includes
a $240 million undrawn revolver, a $686 million outstanding term
loan, and $800 million in notes.  The recovery rating on all of
this debt is unchanged at '3', indicating S&P's expectation of
meaningful recovery (50% to 70%) for lenders in the event of
payment default.

In addition, S&P assigned the company's proposed $400 million in
senior holding company notes an issue-level rating of 'B-' with a
recovery rating of '6', indicating S&P's expectation of negligible
recovery (0% to 10%) for lenders in the event of a payment
default.  The notes will be co-issued by MHGE Parent, LLC (HoldCo)
and MHGE Parent Finance Inc.

"We base the rating affirmation on our assessment of MHGE as a
"core" asset of its parent company, MHE US Holdings LLC (MHE),
which has a group credit profile of 'b+'.  Our "core" assessment
of MHGE reflects the fact that it contributes about 60% of overall
group revenues and accounts for roughly 90% of group debt.
Additionally, MHGE operates in lines of business that are integral
to the overall group strategy and is closely linked to the group's
reputation, name, brand, and risk management.  MHE is also the
parent company of McGraw-Hill School Education (MHSE), which we
view as a "highly strategic" asset of MHE, and which we also
include in our group credit profile analysis.  Our "highly
strategic" assessment of MHSE reflects the fact that it accounts
for a smaller proportion of group revenue, although we have taken
into consideration the mutual business ties," S&P said.

"Our business risk assessment of the consolidated MHE is "fair,"
which reflects the company's solid competitive position in the
higher education and elementary-through-high school (el-hi)
publishing markets and its consistent free cash flow generation.
However, the assessment also reflects the company's exposure to
college enrollment trends and competition from the used and rental
textbook markets, as well as the combined entity's reliance on
state and local budgetary spending that directly affects the el-hi
business.  We assess the company's financial profile as "highly
leveraged," based on the consolidated entity's private equity
ownership, aggressive financial policy, and demonstrated
willingness to initiate significant debt-financed special
dividends to shareholders.  Our management and governance
assessment of MHE is "fair"," S&P added.


MEMORIAL PRODUCTION: Moody's Rates $500MM Unsecured Notes 'Caa1'
----------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating on Memorial
Production Partners LP's (MEMP) proposed $500 million senior
unsecured notes due 2022. Memorial Production Finance Corporation
is a wholly-owned subsidiary of MEMP and serves as the co-issuer
of the notes. MEMP intends to use the net proceeds from the
proposed notes offering, in combination with net proceeds from
MEMP's recent equity offering, to repay a portion of the
outstanding borrowings under its revolving credit facility and for
general partnership purposes. The rating outlook is stable.

On July 1, 2014, MEMP closed its previously announced acquisition
of certain oil producing properties in Wyoming for a purchase
price of approximately $915 million, subject to customary post
closing adjustments. In conjunction with the closing of the
acquisition, MEMP amended its $2.0 billion multi-year revolving
credit facility, increasing its borrowing base from $870 million
to $1.44 billion. The acquisition was funded with borrowings under
MEMP's revolving credit facility.

"The notes term out a portion of MEMP's outstanding revolver
borrowings on a long-term basis," stated Michael Somogyi, Moody's
Vice President-Senior Analyst. "Combined with proceeds from the
recent equity offering, the new notes offering serves to enhance
MEMP's liquidity position and provide for increased financial
flexibility to fund expected future acquisitions."

Ratings Rationale

The Caa1 rating on MEMP's proposed $500 million senior unsecured
notes reflect their subordinate position relative to the
partnership's senior secured revolver. MEMP also has $700 million
of senior unsecured notes due 2021 outstanding. The notes are
fully and unconditionally guaranteed on a senior unsecured basis
and are subordinate to MEMP's secured revolver. The revolver's
first priority claim results in the notes being rated two notches
below the B2 CFR under Moody's Loss Given Default Methodology.

MEMP's B2 Corporate Family Rating (CFR) reflects its long-lived,
shallow decline, predominately proved developed reserve base. The
B2 Corporate Family Rating is restrained by MEMP's high leverage
on production and proved developed reserves. The B2 CFR also
reflects the risks inherent in MEMP's acquisitive, high payout MLP
corporate finance model, but recognizes management's track record
in issuing equity and active hedging program.

MEMP's property base features low exploration and development risk
and a fairly predictable production profile. Year to date, MEMP
has completed $1.143 billion in acquisitions across three basins,
including properties acquired in the Eagle Ford trend in South
Texas, a drop-down of East Texas properties from MEMP's sponsor,
Memorial Resource Development (MRD, B2 stable), and the
acquisition of oil-producing properties in Wyoming. Total proved
reserves on the acquisitions are 94 million barrels of oil
equivalent (BOE), of which 74% are oil, 24% are NGLs and 2% are
natural gas, and provide net production of approximately 8,000 BOE
per day.

MEMP's total proved reserves increase by about 55% to 263 million
BOE with oil and natural gas liquids comprising approximately 61%
of proved reserves, compared to 40% at year-end 2013. The
partnership's proved developed reserve life is also extended to
over 12 years based on average daily production volumes of
approximately 35,500 BOE per day. Still, leverage on average daily
production and PD reserves approach $50,000 per BOE and $11.00 per
BOE, respectively, compared to around $35,000 per BOE and $9.25
per BOE, respectively, for the twelve month period ended March 31,
2014. Moody's expect MEMP to remain disciplined in its funding
strategy by following through on its proven track record of
financing future acquisitions with a large equity component. A
critical focus of Moody's will also be how well the partnership
integrates these acquired assets and executes on its development
strategy.

The outlook is stable based on Moody's expectation that MEMP
continues to finance acquisitions with a meaningful equity
component and maintains appropriate leverage metrics and
liquidity. Moody's  could upgrade the ratings if the partnership
is able to lower its financial leverage profile (debt/production
less than $30,000 BOE per day and debt/proved developed reserves
of less than $9.00 per BOE) while also maintaining sufficient
distribution coverage above 1.0x and adequate liquidity. The
rating could be considered for downgrade if debt/proved developed
reserves are sustained above $12.00 per BOE, if distribution
coverage weakened below 1.0x for a sustained period, or if the
partnership's operational risk profile deteriorates materially.

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.

Memorial Production Partners LP is a publicly traded oil and gas
exploration and production MLP headquartered in Houston, TX.


MEMORIAL PRODUCTION: S&P Cuts Sr. Unsecured Notes Rating to 'CCC+'
------------------------------------------------------------------
Standard & Poor's Ratings Services lowered its issue-level rating
on Houston-based exploration and production partnership Memorial
Production Partners LP's senior unsecured notes to 'CCC+' from
'B-' and removed it from CreditWatch with negative implications,
where S&P had placed it on May 6, 2014.  S&P simultaneously
revised the recovery rating on the outstanding notes to '6',
indicating its expectation of negligible (0% to 10%) recovery in
the event of a payment default, from '5'.  At the same time, S&P
assigned its 'CCC+' issue-level rating, with a '6' recovery
rating, to Memorial's proposed $500 million senior unsecured notes
due 2022.  S&P's 'B' corporate credit rating on Memorial remains
unchanged.  The outlook is positive.

The rating action reflects an updated valuation of the
partnership's reserves under S&P's recovery price assumptions
following the recent acquisition of reserves in Wyoming, an
updated higher borrowing base amount under the partnership's
reserve based loan facility, and the proposed $500 million senior
unsecured notes.  The increase in the reserve value associated
with the partnership's recent acquisition is more than offset by
the higher level of secured and unsecured debt, resulting in lower
recovery expectations on the partnership's unsecured notes.

Ratings List

Memorial Production Partners LP
Corporate Credit Rating                          B/Positive/--

New Rating
Memorial Production Partners LP
Memorial Production Finance Corp.
$500 million senior unsecured notes due 2022     CCC+
  Recovery Rating                                 6

                                                  To        From
Rating Lowered; Recovery Rating Revised

Memorial Production Partners LP
Memorial Production Finance Corp.
  Senior unsecured notes                          CCC+      B-
   Recovery Rating                                6         5


MF GLOBAL: UK Unit OK'd to Pay Clients After Key Settlement
-----------------------------------------------------------
Law360 reported that a British judge has approved a settlement
that will allow MF Global Inc.'s U.K. unit to close out a $1
billion client money pool and finally make distributions to
customers and creditors nearly three years after the broker-
dealer's collapse, according to an opinion.  Law360 related that
U.K. High Court Judge David Richards signed off on the deal, which
resolves potential breach of trust and tracing claims from the
client money pool against MF Global U.K. Ltd.'s general estate
over its failure to segregate client funds.

                        About MF Global

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

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

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

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

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

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

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

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

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

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

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


MOBILEBITS HOLDINGS: Has $2.91-Mil. Net Loss in April 30 Quarter
----------------------------------------------------------------
MobileBits Holdings Corporation filed its quarterly report on Form
10-Q disclosing a net loss of $2.91 million on $298,011 of total
revenues for the three months ended April 30, 2014, compared with
a net loss of $938,449 on $1.09 million of total revenues for the
same period in 2013.

The Company's balance sheet at April 30, 2014, showed $7.74
million in total assets, $2.82 million in total liabilities, and
stockholders' equity of $4.92 million.

The Company has suffered recurring losses from operations.  The
Company has a net loss of $4.48 million, a working capital deficit
of $2.11 million and net cash used in operations of $759,511 for
the six months ended April 30, 2014; and an accumulated deficit of
$42.01 million at April 30, 2014.  In addition, the Company has
not completed its efforts to establish a stable recurring source
of revenues sufficient to cover its operating costs for the next
twelve months.  These factors raise substantial doubt 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 at:

                       http://is.gd/Zq1AGV

MobileBits Holdings Corporation provides Samy, a digital loyalty
and marketing solution that aims to better consumer engagement of
brick and mortar stores.  The Sarasota, Florida-based Company was
formerly known as Bellmore Corporation until it changed its name
to MobileBits Holdings Corporation in 2010.


MOMENTIVE PERFORMANCE: Bridge Facility Letter Approval Sought
-------------------------------------------------------------
BankruptcyData reported that Momentive Performance Materials filed
with the U.S. Bankruptcy Court a motion to authorize the Debtors
to (a) enter into a bridge facility commitment letter and related
commitment documents, (b) enter into an engagement letter related
to a second lien notes offering and (c) pay fees, costs and
expenses in connection therewith.

According to BData, the motion explains that after good faith,
arm's-length negotiations, the Debtors and JPMorgan Securities
LLC, Citigroup Global Markets, Inc., and Credit Suisse Securities
(USA) LLC, reached an agreement on the commitment letter under
which the Bridge Facility Lenders committed to provide, and to act
as Arrangers for, a new second lien secured bridge loan facility
in the aggregate principal amount of up to $250,000,000 to be
drawn to the extent the Debtors are not able to issue new senior
second-priority secured notes in a Rule 144A or other private
placement yielding sufficient aggregate cash proceeds to pay the
1.5 Lien Note Claims in cash pursuant to Section 5.5(b)(i) of the
Plan.

BData added that the Debtors also entered into an engagement
letter, which contemplates the Debtors' engagement of JPMorgan
Securities LLC, Citigroup Global Markets, Inc., and Credit Suisse
Securities (USA) LLC as investment bankers in connection with a
registered or a Rule 144A or other private placement of the Second
Lien Notes.

The Court scheduled a July 18, 2014 hearing on the motion, BData
said.

                   About Momentive Performance

Momentive Performance is one of the world's largest producers of
silicones and silicone derivatives, and is a global leader in the
development and manufacture of products derived from quartz and
specialty ceramics.  Momentive has a 70-year history, with its
origins as the Advanced Materials business of General Electric
Company.  In 2006, investment funds affiliated with Apollo Global
Management, LLC, acquired the company from GE.

As of Dec. 31, 2013, the Company had 4,500 employees worldwide, of
which 46% of the Company's employees are members of a labor union
or are represented by workers' councils that have collective
bargaining agreements.

Momentive Performance Materials Inc., Momentive Performance
Materials Holdings Inc., and their affiliates sought Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 14-22503) on April 14,
2014, with a deal with noteholders on a balance-sheet
restructuring.

As of Dec. 31, 2013, the Debtors had $4.114 billion of
consolidated outstanding indebtedness, including payments due
within the next 12 months and short-term borrowings.  The Debtors
said that the restructuring will eliminate $3 billion in debt.

The Debtors have tapped Willkie Farr & Gallagher LLP as bankruptcy
counsel with regard to the filing and prosecution of these chapter
11 cases; Sidley Austin LLP as special litigation counsel; Moelis
& Company LLC as financial advisor and investment banker;
AlixPartners, LLP as restructuring advisor; PricewaterhouseCoopers
as auditor; and Crowe Horwath LLP as benefit plan auditor.
Kurtzman Carson Consultants LLC is the notice and claims agent.

The U.S. Trustee for Region 2 appointed seven members to serve on
the Official Committee of Unsecured Creditors of the Debtors'
cases.   Klee, Tuchin, Bogdanoff & Stern LLP serves as its
counsel.  FTI Consulting, Inc., serves as its financial advisor.
Rust Consulting Omni Bankruptcy serves as its information agent.


MORNINGSTAR MARKETPLACE: Claims Bar Date Set for July 21
--------------------------------------------------------
Creditors of Morningstar Marketplace, LTD must file their proofs
of claim not later than July 21, 2014.

The deadline for government entities to file proofs of claim is
set for July 28.

                    About Morningstar Marketplace

Morningstar Marketplace, LTD, operator of a flea market business
in St. Thomas, Pennsylvania, filed a Chapter 11 bankruptcy
petition (Bankr. M.D. Pa. Case No. 14-00451) in Harrisburg on
Feb. 3, 2014.  Judge Mary D France presides over the case.
Attorneys at Smigel, Anderson & Sacks, LLP serve as counsel to the
Debtor.  The Debtor estimated $100 million to $500 million in
assets and liabilities.


NAKED BRAND: Reports $1.23-Mil. Net Loss in April 30 Quarter
------------------------------------------------------------
Naked Brand Group Inc. filed its quarterly report on Form 10-Q
disclosing a net loss of $1.23 million on $119,814 of net sales
for the three months ended April 30, 2014, as compared with a net
loss of $643,434 on $93,566 of net sales for the same period in
2013.

The Company's balance sheet at April 30, 2014, showed $1.4 million
in total assets, $3.18 million in total liabilities, and a
stockholders' deficit of $1.78 million.

As at April 30, 2014, the Company had not yet achieved profitable
operations, had a working capital deficiency, and expects to incur
further losses in the development of its business, which casts
substantial doubt about the Company's ability to continue as a
going concern.

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

                       http://is.gd/0NgYxB

Naked Brand Group Inc. is engaged in the manufacture and sales of
direct and wholesale undergarments in Canada and the United States
to consumers and retailers. The Company operates out of
Abbotsford, British Columbia, Canada.


NATIONAL CINEMEDIA: Moody's Rates $135MM Credit Facility 'Ba2'
--------------------------------------------------------------
Moody's Investors Service rated National CineMedia, LLC's (NCM)
$135 million revolving credit facility Ba2. NCM's Corporate Family
Rating and Probability of Default Rating were affirmed at Ba3 and
Ba3-PD. The company's senior secured notes and senior unsecured
notes were both affirmed at Ba2 and B2, respectively. NCM's
speculative grade liquidity rating was affirmed at SGL-2 (good)
and the outlook remains stable.

The new $135 million revolving credit facility due 26 November
2019 replaces an existing $110 million revolving credit facility
due 26 November 2017, with the new facility being upsized by $25
million to provide increased financial flexibility for the
recently announced Screenvision acquisition. The upsize of the
facility has no material impact on instrument ratings. The
maturity of an existing $14 million revolving credit facility
continues to be 31 December 2014. Moody's will withdraw ratings on
the existing credit facility in due course.

At closing of the Screenvision acquisition, NCM Inc., the
publically traded parent with a 45.8% interest in NCM LLC, will
acquire and fund the acquisition. However, subsequent to the
closing of the transaction, NCM Inc., has indicated that it will
likely move Screenvision and related debt down to the NCM, LLC
level. Moody's anticipates the debt structure at that time will be
similar to the current 75% secured/25% unsecured debt
stratification at NCM LLC. Deviation from the 75%/25% breakdown
may cause the secured pool of debt to be downgraded by a notch to
Ba3 from Ba2. Moody's will rate the new debt at NCM, LLC level
once it is issued -- currently expected to be sometime by Q4/2014.

The following summarizes the rating actions on National CineMedia,
LLC:

Assignments:

Senior Secured Bank Credit Facility, Assigned Ba2 (LGD3)

Other:

Corporate Family Rating, affirmed at Ba3

Probability of Default Rating, affirmed at Ba3-PD

Speculative Grade Liquidity Rating, affirmed at SGL-2

Outlook, maintained at Stable

Senior Secured Bank Credit Facility, affirmed at Ba2 (LGD3)

Senior Secured Regular Bond/Debenture, affirmed at Ba2 (LGD3)

Senior Unsecured Regular Bond/Debenture, affirmed at B2 (LGD6)


NEW ENGLAND COMPOUNDING: Patients Sue NJ Hospital Over Outbreak
---------------------------------------------------------------
Law360 reported that Inspira Health Network Inc. has been hit with
two lawsuits in New Jersey court from patients who claim they were
administered fungus-contaminated steroid medication from the New
England Compounding Center, the bankrupt pharmaceutical compounder
tied to a fatal 2012 meningitis outbreak.  According to the
report, the June 30 suits that Michael Bazikos and Arabella West
filed in Essex County Superior Court target companies associated
with the NECC but also look to hold their medical providers
accountable for tainted injections of preservative free
methylprednisolone acetate, or MPA.

             About New England Compounding Pharmacy

New England Compounding Pharmacy Inc., filed a Chapter 11 petition
(Bankr. D. Mass. Case No. 12-19882) in Boston on Dec. 21, 2012,
after a meningitis outbreak linked to an injectable steroid,
methylprednisolone acetate ("MPA"), manufactured by NECC, killed
39 people and sickened 656 in 19 states, though no illnesses have
been reported in Massachusetts.  The Debtor owns and operates the
New England Compounding Center is located in Framingham, Mass.  In
October 2012, the company recalled all its products, not just
those associated with the outbreak.

Paul D. Moore, Esq., at Duane Morris LLP, in Boston, has been
appointed as Chapter 11 Trustee of NECC.  He is represented by:

         Jeffrey D. Sternklar, Esq.
         DUANE MORRIS LLP
         Suite 2400
         100 High Street
         Boston, MA 02110-1724
         Tel: 857-488-4216
         Fax: 857-401-3034

An Official Committee of Unsecured Creditors appointed in the case
has been represented by:

         BROWN RUDNICK LLP
         William R. Baldiga, Esq.
         Rebecca L. Fordon, Esq.
         Jessica L. Conte, Esq.
         One Financial Center
         Boston, MA 02111
         Tel: (617) 856-8200

              - and -

         David J. Molton, Esq.
         Seven Times Square
         New York, NY 10036
         Tel: (212) 209-4800


OCZ TECHNOLOGY: Confident About Approval of 'Consensual' Plan
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that OCZ Technology Group Inc., a producer of solid-state
computer drives, is confident of a "consensual" approval of the
liquidating Chapter 11 plan at the July 22 confirmation hearing,
even though general unsecured creditors receive nothing and are
presumed to oppose the plan.  According to the report, general
unsecured creditors owed about $20 million won't vote on the plan
because they are deemed to vote "no."  They get nothing other than
recoveries from lawsuits, according to disclosure materials, the
report noted.

                             About OCZ

San Jose, Calif.-based OCZ Technology Group, Inc. (Nasdaq: OCZ)
designs, manufactures, and distributes high-performance solid-
state storage solutions and premium computer components.

OCZ and two affiliates on Dec. 2, 2013, filed for Chapter 11
protection (Bankr. D. Del. Lead Case No. 13-13126) with a deal to
sell all assets under 11 U.S.C. Sec. 363 to Toshiba Corporation
for $35 million.

As of the bankruptcy filing, the Debtors had funded indebtedness
of $29.3 million and general unsecured trade obligations of $31.4
million.

The Debtors are represented by Mayer Brown LLP's Sean T. Scott,
Esq., as counsel and Young Conaway Stargatt & Taylor LLP's Michael
R. Nestor, Esq., Matthew B. Lunn, Esq., and Jaime Luton Chapman,
Esq., as Delaware local counsel.  Deutsche Bank is the Debtors'
investment banker.  Mike Rizzo Jr. at RAS Management Advisors,
LLC, serves as financial advisors to the Debtors.  The Hon. Peter
J. Walsh presides over the case.

Kelley Drye & Warren LLP's Eric R. Wilson, Esq., Jason R. Adams,
Esq., and Gilbert R. Saydah Jr., Esq., serve as counsel to the
official committee of unsecured creditors, and Greenberg Traurig,
LLP's Dennis A. Meloro, Esq. serves as local counsel.

OCZ Technology, on Jan. 17, 2014, received approval from the
Bankruptcy Court to sell substantially all of its assets to
Toshiba Corporation for $35 million.  OCZ Technology changed its
name to ZCO Liquidating Corporation.


OMEGA HEALTHCARE: Fitch Affirms 'BB+' Subordinated Debt Rating
--------------------------------------------------------------
Fitch Ratings has affirmed the credit ratings of Omega Healthcare
Investors, Inc. (NYSE: OHI, or Omega) as follows:

-- Issuer Default Rating (IDR) at 'BBB-';
-- Unsecured revolving credit facility at 'BBB-';
-- Senior unsecured notes at 'BBB-';
-- Senior unsecured term loan at 'BBB-';
-- Subordinated debt at 'BB+'.

The Rating Outlook is Stable.

Key Rating Drivers

The ratings reflect the strength of the company's metrics (low
leverage, high fixed-charge coverage, stable cash flows and
exceptional liquidity due to no near-term maturities), which
offset the largest credit concern - the focus on skilled nursing
and assisted living facilities. The high percentage of government
reimbursement and the corresponding regulatory risk to operators
of these facilities may place pressure on operator earnings. Of
secondary concern is the debt maturity schedule which, while long-
dated, is concentrated in 2022 and 2024. OHI can reduce the
maturity risk by calling certain notes in whole or in part ahead
of the stated maturities and/or by growing the portfolio further.

Strong Credit Metrics

Fixed-charge coverage is strong for the 'BBB-' rating at 3.6x for
the trailing 12 months (TTM) and quarter ended March 31, 2014,
compared with 3.0x for the years 2012 and 2011, respectively.
Contractual rental escalators drive Fitch's expectation of fixed-
charge coverage remaining above 3.5x and approaching 4.0x through
the end of 2016. Fitch defines fixed-charge coverage as recurring
operating EBITDA less straight-line rents divided by total
interest incurred.

Leverage is also strong for the 'BBB-' rating. Leverage was 5.0x
and 4.5x for the TTM and quarter ended March 31, 2014, which
reflects the timing of the Ark Holdings transaction, as compared
with 5.6x and 5.7x as of Dec. 31, 2012 and 2011, respectively.
Fitch forecasts that leverage will remain in the mid-4.0x-5.0x
range through 2015 as the company acquires additional facilities
funded evenly through debt and equity, and as contractual rental
escalators increase same-store EBITDA. Fitch calculates leverage
as net debt-to-recurring operating EBITDA.

Strong Liquidity But Concentrated Debt Maturities

OHI's lack of near-term debt maturities and capital expenditures,
coupled with full availability under the recently refinanced and
expanded $1 billion revolving credit facility provides OHI with
significant liquidity. OHI's nearest debt maturity will be the
$200 million term loan due 2019. Fitch notes OHI's debt maturities
are long-dated but concentrated with 27.5% and 38.2% maturing in
2022 and 2024, respectively. However, the 2022 notes and $400
million of the 2024 notes may be called by the company beginning
in 2015 and 2017, respectively, and Fitch expects OHI will seek to
refinance each note with proceeds from longer-dated senior
unsecured note issuances provided the market pricing at that time
offsets the incurrence of the call premium.

Commonality of Tenant Revenue Sources Mitigates Operator
Diversification Benefits

Offsetting the credit positives is OHI's focus on skilled-nursing
facilities (SNF) and assisted-living facilities, which are highly
reliant upon federal and state reimbursement. Approximately 92% of
OHI's operator revenues are derived from public sources as of Dec.
31, 2013. Operators have experienced greater financial volatility
and stress when rates and/or reimbursement formulas have changed.
Healthcare legislation, together with budgetary concerns at both
the federal and state levels will likely continue to pressure
operator margins and operators' capacity to honor lease
obligations.

As expected by Fitch, OHI's operators' rent coverage has weakened
due to the Centers for Medicare & Medicaid Services 2011
reimbursement rate adjustment but remains solid (though not
robust) at 1.9x and 1.4x for EBITDARM and EBITDAR, respectively
for the TTM ended Dec. 31, 2013. These levels compare to 2.2x and
1.8x, respectively, for the year ended Dec. 31, 2011. Master
leases with cross-collateralization and EBITDAR coverage covenants
improve OHI's security; however, OHI remains at risk for potential
tenant defaults and/or requests for rental relief concessions
stemming from changes to reimbursement rates.

OHI's operators have been offsetting revenue declines through non-
rent operating expense cost savings. Coverage metrics have
declined moderately but Fitch expects they will stabilize near
current levels.

Fair Contingent Liquidity

The majority of OHI's assets are unencumbered and Fitch estimates
unencumbered asset coverage of unsecured debt ranges from 1.6x to
2.1x based on a stressed capitalization range of 9%-12%. The mid-
point of the coverage is down from previous years though Fitch
notes this is driven in part by the timing of acquisitions and
Fitch anticipates OHI's normalized unencumbered asset coverage
ratio should remain around 2.0x.

Despite eight quarters of dividend increases, OHI has continued to
reduce its adjusted funds from operations (AFFO) payout ratio to
71% for 1Q'14 from the low 90% range in 2007-2009. As a result,
OHI is able to retain approximately $50 million-$100 million of
cash flow from operations to fund acquisitions and debt repayment,
which Fitch views favorably. OHI targets an AFFO payout ratio of
less than 85% (currently at 69% based on the company's
calculations), thus Fitch expects OHI will continue to increase
the dividend in subsequent quarters.

Subordinated Debt Notching

The one-notch differential between OHI's IDR and the subordinated
debt assumed as part of the CapitalSource transaction considers
the relative subordination within OHI's capital structure. The
interest is due and payable only to the extent that there is rent
being received from the tenants of the acquired properties to
cover the interest expense related to the debt, and the principal
is due only to the extent that all rent has been paid for the term
of the debt.

Stable Outlook

The Stable Outlook reflects Fitch's expectation that metrics will
improve but remain appropriate for the current rating and that any
reimbursement pressures at the operator level will have a minimal
impact on OHI cash flows given lease length, covenants and
coverage.

Rating Sensitivities

Fitch does not expect management to operate the company consistent
with these factors that could otherwise result in positive
momentum in OHI's ratings and/or Outlook:

-- Increased scale and diversification;
-- Fitch's expectation of net debt-to-recurring operating EBITDA
    sustaining below 4.0x (leverage was 5.0x and 4.5x for TTM and
    quarter ended March 31, 2014);
-- Fitch's expectation of fixed-charge coverage sustaining above
    3.5x (coverage was 3.6x for the TTM and quarter ended March
    31, 2014).

The following factors may result in negative momentum in OHI's
ratings and/or Outlook:

-- Further pressure on operators through reimbursement cuts;
-- Fitch's expectation of leverage sustaining above 5.5x;
-- Fitch's expectation of fixed-charge coverage sustaining below
    2.5x.


PETROLOGISTICS LP: Moody's Places B1 CFR on Review for Upgrade
--------------------------------------------------------------
Moody's Investors Service upgraded PetroLogistics LP's senior
notes ratings to A3 from B2, reflecting the support provided by
Flint Hills Resources, LLC (FHR, A1, stable), a subsidiary of Koch
Industries, Inc. FHR's proposed $2.1 billion friendly cash
acquisition of PetroLogistics is expected to provide the existing
$365 million 6.25% Sr. Notes due 2020 (Sr. Notes) with various
implicit and contractual support including a Demand Note sized to
fully cover all interest and principal obligations through
maturity. The company's Corporate Family Rating (CFR) will be
withdrawn with the move to investment grade. These rating actions
conclude the review initiated on May 28, 2014. The transaction is
expected to close in the near term. The outlook is stable.

"The inherent strength of the Flint Hills ownership combined with
the expected support package provide a high level of assurance
that PetroLogistics obligations will be upheld," said Moody's
Analyst Lori Harris.

Ratings Rationale

The A3 rating reflects the overarching financial and strategic
support provided to PetroLogistics by FHR, a large well funded
profitable A1 rated entity. Such strategic and financial support
includes the benefit of product marketing, feedstock market access
and pricing, FHR credit facility access, and third party credit
default protections. The rating is also enhanced by the meaningful
benefits of the dissolution of the MLP structure such that the
requirements to distribute cash would no longer burden
PetroLogistics, thus allowing for alternative use of cash to
support downtime, expansion, or other constructive efforts, but
not to the exclusion of FHR's desire to otherwise extract and use
the cash.

Importantly, the rating reflects the benefits of various
contractual provisions including the $500 million Demand Note,
which provides contractual assurance for the payments of all
interest and principal obligations under the Sr. Notes in full,
through maturity. Because of the legal obligation and terms of the
Demand Note, Moody's believes that there is a high level of
support for the repayment and compliance with the Sr. Note
obligations. Although the Demand Note support mechanisms are more
complex than the time and court tested guarantee structure, there
is elevated assurance that the obligations will be paid in a
timely manner within the grace period, though not necessarily on
the due date. The rating also reflects the contractual
requirements of the Master Sales Agreement which include both
pricing protections and upside benefits for PetroLogistics as well
as additional assurance of FHR's credit protection and market
advantages. The attributes of the Master Services Agreement and
Guarantee of performance on contractual obligations of FHR
subsidiaries are also included in the rating.

Further supporting the A3 rating is the new pari passu revolving
credit facility provided by FHR, which is expected to be increased
to $290 million, from $170 million under the existing facility.
The pari passu feature of the new $290 million facility is an
improvement versus the existing $170 million credit facility which
is structurally senior to the Sr. Notes. The increased size of the
$290 million facility is expected to provide strong liquidity to
the PetroLogistics operations and Sr. Notes. The new credit
facility is anticipated to be used in conjunction with cash from
operations to support maintenance capex, possible growth capex,
and payments on the Sr. Notes. Benefitting from a limitation on
both dividends and the incurrence of additional debt, the new
facility is not expected to be heavily used, rather it will
provide additional liquidity in terms of timing, especially for
potential periods of heavy capex expansion spending or other
events beyond the good quarterly cash generation capabilities of
PetroLogistics normal operations.

PetroLogistics operations generate strong financial metrics and
Moody's expects it to continue to do so as the market for its main
product, propylene, will remain tight in North America through
2015. Since startup, the company has generated unusually high cash
margins due to low propane prices. However, with the run-up in
propane prices in the first quarter of 2014 and further increases
in propane exports, margins are expected to be somewhat lower in
2014. Other favorable credit attributes include FHR as its new
singular customer, its geographic location, and ample pipeline
connectivity. The company's single site location on the Houston
ship channel, its limited operating history and potential
volatility in quarterly earnings are factored into the rating, but
are more than offset by the implicit support provided by the FHR
ownership.

FHR's merger plans include various merger stages which will change
the PetroLogistics name to one bearing the Flint Hills moniker.
The alteration is not expected to impact the ratings, but does
imply a degree of reputational risk for FHR, an additional impetus
for their support of the entity and Sr. Notes.

FHR continues negotiations with holders of the Sr. Notes regarding
the public disclosures and filings required of PetroLogistics
following the merger. If FHR's consent solicitation process with
the noteholders successfully alleviates the SEC filing
requirements, then PetroLogistics financials and disclosures would
be communicated through a private site. Moody's believes that FHR
will convey comprehensive and timely updates regarding the
financial and operational condition of PetroLogistics via the
proposed private site and other communications that will be
sufficient to inform the rating.

Ratings Upgraded:

Issuer: PetroLogistics LP

  $365 million 7 year Sr. Unsec. Notes, A3 from Review for
  Upgrade, B2

Ratings Assigned:

  Senior unsecured, A3

Outlook Actions:

  Outlook, Changed To Stable from Rating Under Review for Upgrade

Ratings Withdrawn:

  Corporate Family Rating, Review for Upgrade, B1

  Probability of Default Rating, Review for Upgrade, B1-PD

  Speculative Grade Liquidity Rating -- SGL-2

The stable outlook reflects the support of PetroLogistics from FHR
and the expected earnings and good cash flow generation. Future
upward or downward ratings moves for PetroLogistics would likely
be tied to a similar move in FHR's rating.

The principal methodology used in this rating was Global Chemical
Industry Rating Methodology published in December 2013.

PetroLogistics LP is headquartered in Houston, TX. PetroLogistics
owns the largest propane dehydrogenation (PDH) facility in the
world, with a current capacity of 1.4 billion pounds. Construction
on the propane dehydrogenation / propylene production facility was
completed in October 2010, and after a reasonable start-up period
it demonstrated production rates at current nameplate capacity.
PetroLogistics will be acquired by Flint Hills Resources, LLC,
thus dissolving the variable distribution master limited
partnership (MLP) structure which was formed on May 2012, through
an IPO wherein, 63% of the company's common units were owned
Lindsay Goldberg and York Capital Management, 26% owned by the
public, and the remainder owned by officers and directors.
Revenues for the LTM ending March 31, 2014 were $769 million.

Flint Hills Resources, LLC (FHR) is engaged in wholesale refining,
petrochemicals, renewable fuels manufacturing (mainly ethanol),
refined products distribution, and lube basestock production, the
latter through a 50% stake in Excel Paralubes. FHR is a wholly-
owned subsidiary of Koch Resources, LLC (KRLLC, Aa3 stable), which
is in turn a wholly-owned subsidiary of privately owned Koch
Industries, Inc. (KII, not rated). FHR is run as an independent
company within KRLLC with its own assets and external liquidity.
Refining was one of Koch's original core businesses and FHR
remains strategically important to KRLLC, contributing about 40%-
60% of its operating earnings and cash flow, subject to industry
cycles.


PF CHANG'S: S&P Affirms 'B-' CCR on Lower Business Risk
-------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on Scottsdale, Ariz.-based Asian themed restaurateur
P.F. Chang's China Bistro Inc.  The outlook is stable.  S&P also
affirmed its 'B' issue-level rating on the term loan and revolver
and 'CCC' issue-level rating on the company's senior notes.  The
respective recovery ratings remain unchanged at '2', indicating
S&P's expectation of substantial (70%-90%) recovery in the event
of a payment default, and '6', indicating negligible (0%-10%)
recovery in the event of default.

The affirmation coincides with the revision of our business risk
assessment on the company to "vulnerable," to reflect P.F. Chang's
worsening market position in the highly promotional family and
casual restaurant industry, and inability to appeal to changing
consumer demands in terms of menu innovation or dining experience.

"We don't think the company has realized the significant cost
savings we had expected under financial sponsor Centerbridge in
recent years," said Standard & Poor's credit analyst Diya Iyer.
"We think instead it has experienced adjusted EBITDA margin
erosion of 50 basis points in the past year because of gross
margin contraction given increased labor costs to support store
growth.  Other headwinds include a recent credit card breach,
executive turnover, and ongoing concentration in both suppliers
and geographies, with the majority of restaurants based in
California, Arizona, Florida, and Texas."

The stable outlook reflects Standard & Poor's expectation that
continued operational erosion from weak traffic trends will offset
limited debt reduction from excess cash flow generation, resulting
in slightly worse credit measures in the coming year.  S&P also
expects that improved lunch and happy hour offerings at Bistro
will provide only limited traffic upside through the end of 2014.


POINT BLANK: Asks Court to Extend Deadline to Remove Suits
----------------------------------------------------------
SS Body Armor I, Inc. asked the U.S. Bankruptcy Court in Delaware
to extend the deadline to remove lawsuits to December 31.

SS Body, formerly known as Point Blank Solutions Inc., said the
extension would give them the opportunity "to make fully-informed
decisions" concerning removal of any lawsuit involving the company
and its affiliated debtors.

A court hearing is scheduled for July 24.  Objections are due by
July 17.

                       About Point Blank

Headquartered in Pompano Beach, Florida, Point Blank Solutions,
Inc. -- http://www.pointblanksolutionsinc.com/-- designs and
produces body armor systems for the U.S. Military, Government and
law enforcement agencies, as well as select international markets.
The Company maintains facilities in Pompano Beach, Florida, and
Jacksboro, Tennessee.

The Company's former chief executive officer and chief operating
officer were convicted in September 2010 of orchestrating a
$185 million fraud.

Point Blank Solutions, formerly DHB Industries, filed for
Chapter 11 protection (Bankr. D. Del. Case No. 10-11255) on
April 14, 2010.  Laura Davis Jones, Esq., Alan J. Kornfeld, Esq.,
David M. Bertenthal, Esq., and Timothy P. Cairns, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as bankruptcy counsel to
the Debtor.  Olshan Grundman Frome Rosenweig & Wolosky LLP serves
as corporate counsel.  Epiq Bankruptcy Solutions serves as claims
and notice agent.

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors and a separate Official Committee of Equity Security
Holders in the case.  Ian Connor Bifferato, Esq., and Thomas F.
Driscoll III, Esq., at Bifferato LLC; and Carmen H. Lonstein,
Esq., Andrew P.R. McDermott, Esq., and Lawrence P. Vonckx, Esq.,
at Baker & McKenzie LLP, serve as counsel for the Official
Committee of Equity Security Holders.  Robert M. Hirsh, Esq., and
George P. Angelich, Esq., at Arent Fox LLP, serve as counsel to
the Creditors Committee, and Frederick B. Rosner, Esq., and
Brian L. Arban, Esq., at the Rosner Law Group LLC, serve as
co-counsel.

In October 2011, the Debtors sold substantially all assets to
Point Blank Enterprises, Inc.  The lead debtor changed its name to
SS Body Armor I, Inc. following the sale.


QUIKSILVER INC: S&P Affirms 'B-' CCR & Revises Outlook to Neg.
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on Huntington Beach, Calif.-based Quiksilver Inc.
and revised the outlook to negative from stable.

In addition, S&P affirmed its 'CCC+' issue-level rating on the
$280 million senior secured notes co-issued with subsidiary QS
Wholesale Inc.  The recovery rating is '5', indicating S&P's
expectation of modest (10% to 30%) recovery for debtholders in the
event of a payment default.  S&P also affirmed its 'CCC' issue-
level rating on the $225 million senior unsecured notes, also co-
issued with QS Wholesale.  The recovery rating is '6', indicating
S&P's expectation of negligible (0% to 10%) recovery for
noteholders in the event of a payment default.

At the same time, S&P affirmed its 'B-' issue-level rating on the
company's EUR200 million European senior unsecured debt.  The
recovery rating is '4', indicating S&P's expectation of average
(30% to 50%) recovery for noteholders in the event of a payment
default.

"The outlook revision to negative from stable reflects continued
poor operating performance, including steeper than expected top
line declines in the second fiscal quarter, and our expectation
that similar operating trends will continue through the second
half of the fiscal year and that its free operating cash flow will
be negative in 2015," said credit analyst Jacqueline Hui.  "The
company's operating performance has deteriorated from fashion
misses and intense competition that led to heavy discounting of
excess inventory and promotional activity."

The rating outlook is negative, reflecting S&P's view that
Quiksilver will continue to have soft operating results and weak
credit metrics, including high leverage of about 7x, over the next
year.  S&P expects cash flow generation to be weak but for
liquidity to remain adequate given its current cash levels and
revolver availability.

Downside Scenario

S&P could lower the ratings over the next year if the company
fails to benefit from its restructuring and cost-saving
initiatives or if operating performance weakens further perhaps
because of fashion misses or the promotional environment, which
results in even weaker free cash flow generation, deterioration in
liquidity, and an unsustainable capital structure.

Upside scenario

Alternatively, S&P could revise the outlook to stable if
management is able to gain traction in turning around the
business, operating performance improves and stabilizes, such that
free cash flow breaks evens and fixed-charge coverage is sustained
in the low-1x area.  S&P estimates EBITDA would have to increase
around 25% for this to occur.


REALBIZ MEDIA: Has $869K Net Loss in April 30 Quarter
-----------------------------------------------------
RealBiz Media Group, Inc., filed its quarterly report on Form 10-Q
disclosing a net loss of $869,745 on $252,560 of real estate media
revenue for the three months ended April 30, 2014, compared with a
net loss of $563,333 on $319,174 of real estate media revenue for
the same period in 2013.

The Company's balance sheet at April 30, 2014, showed $5 million
in total assets, $2.04 million in total liabilities, and
stockholders' equity of $2.96 million.

The Company has incurred a net loss of $2.32 million for the six
months ended April 30, 2014.  At April 30, 2014, the Company had a
working capital deficit of $1.95 million, and an accumulated
deficit of $12.93 million.  It is management's opinion that these
facts raise substantial doubt about the Company's ability to
continue as a going concern without additional debt or equity
financing, according to the regulatory filing.

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

                       http://is.gd/A1D8K7

RealBiz Media Group, Inc. formerly Webdigs, Inc. is a Weston,
Florida-based provider of digital media and marketing services to
the real estate industry.  The Company develops advertising
campaigns of property listings on multiple formats for web,
mobile, interactivity on TV and Video on Demand.


REX ENERGY: Moody's Rates $250MM Sr. Unsecured Notes 'B3'
---------------------------------------------------------
Moody's Investors Service assigned a B3 rating on Rex Energy
Corporation's (REXX) proposed $250 million senior unsecured notes
due 2022. Net proceeds from the offering will be used to repay all
of the borrowings outstanding under the company's revolving credit
facility and for general corporate purposes. The rating outlook is
stable.

"Moody's views this transaction as a straight refinancing of
debt," commented Michael Somogyi, Moody's Vice President -- Senior
Analyst. "By returning to full borrowing capacity under the
company's revolver and adding cash to the balance sheet, REXX will
enhance its liquidity position to further support its development
program."

Ratings Rationale

The B3 rating on the company's proposed $250 million senior
unsecured notes reflect their subordinate position relative to the
REXX's senior secured revolver. REXX also has $350 million of
senior unsecured notes due 2020. The notes are fully and
unconditionally guaranteed on a senior unsecured basis and are
subordinate to REXX's $375 million borrowing base credit facility
($312.5 million borrowing base pro-forma for the proposed $250
million notes offering). The revolver's first priority claim
results in the notes being rated one notch below the B2 CFR under
Moody's Loss Given Default Methodology.

REXX's B2 Corporate Family Rating (CFR) reflects the company's
small size on a proved developed (PD) reserve basis, limited
production base, high capital requirements through 2015 and
execution risks surrounding its aggressive development program
concentrated in the Marcellus and Utica Shale plays in the
Appalachian Basin. The B2 CFR is supported by REXX's significant
reserve, production and cash flow growth potential that should be
realized with the build-out of additional infrastructure. REXX
also benefits from a high level of operational control that
affords both operational and financial flexibility, an active
commodity hedging program that provides for a level of stability
of cash flows and enhanced liquidity to support development and
production activities.

REXX reported record quarterly production of about 20,400 barrels
of oil equivalent (BOE) per day in the first quarter ended March
31, 2014 and is approaching 21,500 BOE of daily production volumes
through the quarter ended June 30, 2014. Previously announced
production curtailments due to delays in the installation of
additional field compression capacity in its Butler operated area
are expected to be resolved and Moody's  project REXX to exit 2014
with production volumes of about 25,000 BOE per day. Its drilling
program focused on the Butler and Ohio Utica regions is capital
intensive, and a critical focus of ours will be how well the
company delivers on its growth objectives.

The stable outlook assumes REXX maintains sufficient liquidity and
reasonable operating performance over the next 12-18 months. An
upgrade could be considered if REXX successfully grows production
at sound returns while also maintaining sufficient liquidity and
debt/production less than $25,000 BOE per day. An upgrade would
also consider the degree of progress on REXX's drilling program
and pace of midstream infrastructure build out. A downgrade is
possible if debt production is sustained above $30,000 BOE per
day, retained cash flow/debt falls below 15%, or liquidity
tightens.

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.

Rex Energy Corporation is an independent exploration and
production company based in State College, PA.


REX ENERGY: S&P Assigns 'B-' Rating on $250MM Unsecured Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services has assigned its 'B-' issue-
level rating (one notch lower than the corporate credit rating)
and '5' recovery rating to State College, Pa.-based exploration
and production (E&P) company Rex Energy Corp.'s proposed $250
million unsecured notes due 2022.  The '5' recovery rating
indicates S&P's expectation of modest (10% to 30%) recovery in the
event of a payment default.  The company plans to use the proceeds
from the proposed offering to repay borrowings on its credit
facility and for general corporate purposes.

The ratings on Rex Energy Corp. reflect S&P's view of the
company's "vulnerable" business risk, "aggressive" financial risk,
and "adequate" liquidity.  The ratings incorporate the company's
relatively small size and scale, limited geographic diversity,
meaningful proportion of reserves and production exposed to weak
natural gas prices, and participation in the capital-intensive and
very cyclical E&P industry.  Ratings also reflect the company's
prospects for increased condensate production, especially natural
gas liquids.

Ratings List

Rex Energy Corp.
Corporate Credit Rating                     B/Stable/--

New Rating

Rex Energy Corp.
$250 mil unsecd nts due 2022                B-
  Recovery Rating                            5


RIOFORTE INVESTMENTS: To File for Creditor Protection
-----------------------------------------------------
Patricia Kowsmann, writing for The Wall Street Journal, reported
that Espirito Santo International SA's main unit, Rioforte
Investments, is preparing to file for creditor protection in
Luxembourg because of mounting pressure to repay debt with funds
it doesn't have.  According to the report, citing a person
familiar with the situation, in the latest sign of stress,
Rioforte is unlikely to repay EUR897 million ($1.22 billion) in
debt held by Portuguese telecom giant Portugal Telecom SGPS SA.


SOURCE INTERLINK: July 21 Hearing on Bid to Sell Retail Business
----------------------------------------------------------------
The Bankruptcy Court will convene a hearing on July 21, 2014, at
2:00 p.m., to consider Source Home Entertainment, LLC, et al.'s
motion to:

   1. approve the bid procedures to govern the sale of
      certain assets comprising of the Debtors' retail display
      manufacturing and installation business; and

   2. approve that certain asset purchase agreement dated
      June 22, 2014, with Cortland Capital Market Services LLC,
      the purchaser or stalking horse bidder.

Objections, if any, were due July 14 at 4:00 p.m.

Under the Stalking Horse APA, the stalking horse bidder has agreed
to:

   * credit bid approximately $24 million of its claims under the
Debtors' senior secured prepetition loan, subject to certain
purchase price adjustments;

   * assume liabilities for, among other things, contract cure
costs and employee- and payroll-related liabilities;

   * leave behind a significant number of avoidance actions and
other assets for the benefit of these chapter 11 estates; and

   * accept an expense reimbursement capped at $600,000 and no
break-up fee as its bid protections -- a package that is favorable
to the Chapter 11 estates.

The Debtors also request that the Court approve this timeline:

   * qualified bids for the assets to be submitted by Aug. 22;
   * the auction will be conducted on Sept. 8; and
   * the sale hearing to occur by Sept. 11.

The stalking horse bid expire Oct. 21, 2014, if a sale transaction
is not consummated by that time.

A copy of the bidding procedures is available for free at:

http://bankrupt.com/misc/SourceInterlink_73_biddingprocess.pdf

                 About Source Home Entertainment
                       and Source Interlink

Headquartered in Bonita Springs, Florida, Source Home
Entertainment, LLC, manufactures front-end retail checkout
displays and is a leading distributor of books, periodicals, and
other printed material.  Its distribution network spans over
32,500 retail locations in the U.S. and abroad.

In the twelve months ended April 30, 2014, Source Home generated
revenues totaling approximately $600 million on a consolidated
basis.  As of March 31, 2014, Source Home had assets (not
including goodwill or intangibles) of $205 million and liabilities
of approximately $290 million.

Source Home, Source Interlink Manufacturing, LLC, and other
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-11553) on June 23, 2014, to sell their front-end retail
display fixtures business to lenders, absent higher and better
offers.  The Debtors are winding down their books distribution
business.

The Debtors have tapped Kirkland & Ellis LLP as general bankruptcy
and corporate counsel; Young Conaway Stargatt & Taylor, LLP, as
co-counsel, FTI Consulting, Inc., as crisis and turnaround
advisor; and Kurtzman Carson Consultants, LLC, as claims agent.


SOURCE INTERLINK: Meeting of Creditors Scheduled for July 22
------------------------------------------------------------
Roberta A. DeAngelis, U.S. Trustee for Region 3, will convene a
meeting of creditors in the Chapter 11 cases of Source Home
Entertainment, LLC, et al., on July 22, 2014, at 9:00 a.m.  The
meeting will be held at J. Caleb Boggs Federal Building, 844 King
Street, 5th Floor, Room 5209, Wilmington, Delaware.

The deadline to file a complaint to determine dischargeability of
certain debts is scheduled for Sept. 20, 2014.

                 About Source Home Entertainment
                       and Source Interlink

Headquartered in Bonita Springs, Florida, Source Home
Entertainment, LLC, manufactures front-end retail checkout
displays and is a leading distributor of books, periodicals, and
other printed material.  Its distribution network spans over
32,500 retail locations in the U.S. and abroad.

In the twelve months ended April 30, 2014, Source Home generated
revenues totaling approximately $600 million on a consolidated
basis.  As of March 31, 2014, Source Home had assets (not
including goodwill or intangibles) of $205 million and liabilities
of approximately $290 million.

Source Home, Source Interlink Manufacturing, LLC, and other
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-11553) on June 23, 2014, to sell their front-end retail
display fixtures business to lenders, absent higher and better
offers.  The Debtors are winding down their books distribution
business.

The Debtors have tapped Kirkland & Ellis LLP as general bankruptcy
and corporate counsel; Young Conaway Stargatt & Taylor, LLP, as
co-counsel, FTI Consulting, Inc., as crisis and turnaround
advisor; and Kurtzman Carson Consultants, LLC, as claims agent.


SP HOLDCO I: Moody's Assigns B3 Corp. Family Rating; Outlook Neg.
-----------------------------------------------------------------
Moody's Investors Service assigned a B3 Corporate Family Rating
and B3-PD Probability of Default Rating to SP HoldCo I, Inc. the
indirect parent of Surgery Center Holdings ("Surgery Partners").
At the same time, Moody's assigned a B1 (LGD 2) rating to Surgery
Partners' $900 million senior secured first lien credit
facilities, consisting of a $80 million revolving credit facility
expiring in 2019 and a $820 million first lien term loan due 2020.
Concurrently, Moody's assigned a Caa2 (LGD 5) rating to Surgery
Partners' proposed $440 million second lien term loan due 2021 and
a Caa2 (LGD 6) rating to SP HoldCo's $100 million PIK term loan
due 2021. The rating outlook is negative.

On June 13, 2014, Surgery Partners announced the acquisition of
Symbion, Inc. for a total purchase price of $792 million. Proceeds
from the proposed financing will be used to fund the acquisition,
refinance existing debt and fund a series of planned future
acquisitions. Symbion is an owner and operator of short-stay
surgical facilities providing, non-emergency surgical procedures,
including orthopedics, pain management and gastroenterology.

The following is a summary of Moody's ratings actions:

SP HoldCo I, Inc.:

Ratings assigned:

Corporate Family Rating at B3

Probability of Default Rating at B3-PD

$100 million PIK term loan due 2021 at Caa2 (LGD 6)

Surgery Center Holdings, Inc.:

Ratings assigned:

$80 million senior secured revolver due 2019 at B1 (LGD 2)

$820 million senior secured first lien term loan due 2020 at B1
(LGD 2)

$440 million senior secured second lien term loan due 2021 at Caa2
(LGD 5)

Ratings to be withdrawn at close:

Surgery Center Holdings, Inc.:

Corporate Family Rating, B3

Probability of Default Rating, B3-PD

$30 million senior secured revolving credit facility expiring 2018
at B1 (LGD 3)

$315 million senior secured first lien term loan due 2019 at B1
(LGD 3)

$210 million senior secured second lien term loan due 2020 at Caa2
(LGD 5)

Rating Rationale

The B3 Corporate Family Rating reflects Surgery Partners' very
high leverage, which will increase following the acquisition of
Symbion, and the company's aggressive acquisition and shareholder
friendly financial policy. Moody's estimates that the pro forma
debt to EBITDA for the LTM period ending March 31, 2014 would have
been approximately 8.4 times. Furthermore, the ratings are
constrained by a sluggish economic environment and the high
underemployment rate and increasing healthcare expense burden on
patients that will result in sluggish procedure volumes in the
year ahead. In addition, the potential for rate compression from
government sponsored programs (mostly Medicare) and commercial
payors over the longer-term is a concern.

The rating benefits from the industry's long-term growth prospects
for the sector, as many patients and payors prefer the outpatient
environment (primarily due to lower cost and better outcomes) for
certain specialty procedures.

The negative outlook reflects Moody's concern with Surgery
Partners' heightened financial leverage resulting from its
aggressive financial policy and the challenges it will face
integrating Symbion.

The rating could be downgraded if the company is unable to improve
its financial performance, or if it stumbles in its integration of
Symbion. Additionally, the company has no capacity at its current
rating level for additional financial leverage. Ratings could also
be downgraded if liquidity deteriorates or free cash flow turns
negative.

Although an upgrade is unlikely in the near-term, if the company
is able to integrate Symbion without financial or operational
disruption, while maintaining good liquidity, the rating could be
upgraded. More specifically, for a rating upgrade to occur given
the company's size and debt leverage, debt to EBITDA would have to
be sustained around 6 times.

The principal methodology used in this rating was the Global
Healthcare Service Providers Industry Methodology 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.

Surgery Partners is an operator of outpatient surgery hospitals
that provide a diversified core of surgical procedures in pain
management, orthopedics, gastrointestinal, ophthalmology, ear,
nose and throat, general surgery and urology.


SCSJ ENTERPRISES: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: SCSJ Enterprises, Inc.
        2295 Town Lake Pkwy
        Woodstock, GA 30189

Case No.: 14-63555

Chapter 11 Petition Date: July 14, 2014

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Debtor's Counsel: Kenneth Mitchell, Esq.
                  GIDDENS, MITCHELL & ASSOCIATES, P.C.
                  Suite 555, 3951 Snapfinger Parkway
                  Decatur, GA 30035
                  Tel: 770-987-7007
                  Email: gmapclaw1@gmail.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Shandton Williams, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ganb14-63555.pdf


SIGNAL ELECTRIC: Default Judgment in "Ha" Suit Vacated
------------------------------------------------------
Judy Ha sued Signal Electric Inc. after she was hit by a drunk
driver in an intersection where Signal Electric was installing a
new traffic light.  Signal Electric was in Chapter 11 bankruptcy,
so Ha sought and received permission to proceed.  Ha then asked
Signal Electric's bankruptcy attorney if he would accept service
of process.  The attorney agreed and executed an acceptance of
service.  However, the attorney sent the summons and complaint to
Signal Electric's bankruptcy financial advisor, who forwarded them
to the wrong insurance company and not to Signal Electric.  When
Signal Electric failed to appear, the trial court entered an order
of default and default judgment.  Signal Electric eventually
received notice and moved to vacate under CR 60(b)(5) for improper
service of process; CR 60(b)(1) for mistake, inadvertence, or
excusable neglect; and CR 60(b)(11) for extraordinary
circumstances.  The trial court granted Signal Electric's motion
and vacated the default judgment.

"We affirm," the Court of Appeals of Washington, Division One,
ruled in a July 14, 2014 Opinion available at http://is.gd/M86rAJ
from Leagle.com.

The case is, JUDY HA, Appellant, v. SIGNAL ELECTRIC, INC., a
Washington corporation, Respondent, JUANITA MARS aka JUANITA
WRIGHT aka JUANITA CARPENTER, an individual; AEG LIVE NW, LLC
d/b/a SHOWBOX SODO, a Washington limited liability company; and
CITY OF SEATTLE, a local government entity, Defendants, No. 70423-
1-I (Wash. App.).

Counsel for Appellant is:

     Douglas C. McDermott, Esq.
     MCDERMOTT NEWMAN, PLLC
     1001 4th Ave Ste 3200
     Seattle, WA, 98154-1003

Counsel for Respondent:

     Steven George Wraith, Esq.
     LEE SMART PS INC
     701 Pike St Ste 1800
     Seattle, WA, 98101-3929

Based in Kent, Washington, Signal Electric Inc. filed for Chapter
11 bankruptcy protection (Bankr. W.D. Wash. Case No. 11-12105) on
Feb. 26, 2011.  Judge Marc Barreca presides over the case.  J Todd
Tracy, Esq., at Crocker Law Group PLLC, represents the Debtor.
The Debtor estimated both assets and debts of between $1 million
and $10 million.


TACTICAL INTERMEDIATE: Unsecured Creditors May Receive Nothing
--------------------------------------------------------------
Tactical Intermediate Holdings, Inc., et al., in the disclosure
statement explaining their plan of liquidation filed with the U.S.
Bankruptcy Court for the District of Delaware, stated that holders
of general unsecured claims may receive nothing under the
liquidating plan if there are no more assets left to distribute.

The Prepetition Senior Secured Claim (Class 1) will be paid all
cash sale proceeds from the sale of the Debtors' apparel line,
less the amount of the Administrative Reserve, and all cash sale
proceeds from the sale of the Debtors' footwear line.  Secured
Noteholder Claims (Class 2) will receive payment in cash after
distribution of after payment of the DIP Facility Claim, the
Professional Claims, all Administrative Claims, all Priority
Claims, the Distribution Reserves and the Class 1 Prepetition
Senior Secured Claim.

Miscellaneous Secured Claims (Class 3) will receive (i) Cash in an
amount equal to the lesser of (a) the amount of Allowed Secured
Claim and (b) the value of the Debtors' property securing the
Allowed Secured Claim currently in the possession of the Debtors
minus the amount of claims secured by the property with legal
priority senior to the lien priority of the holder of the Allowed
Class 2 Claim or (ii) the property securing the Allowed Class 2
Claim.

The holder of each Allowed Class 4 Priority Non-Tax Claim will
receive its Pro Rata share of all Plan Assets remaining after
payment in full of Post-Effective Date Claims incurred by the Plan
Administrator, Allowed Professional Claims and Allowed Claims in
Class 2 until Allowed Class 3 Claims are paid in full.

Holders of Allowed Class 5 General Unsecured Claim will receive
its Pro Rata share of the Plan Assets after payment of all
Administrative Claims, Priority Claims, Allowed Class 1 Claims,
Allowed Class 2 Claims, Allowed Class 3 Claims, Allowed Class 4
Claims and the funding of the Plan Administrator Expense Reserve.
If, as of the Final Distribution Date, there are no available Plan
Assets to satisfy any Allowed General Unsecured Claims, Holders of
General Unsecured Claims will not receive any distribution on
account of such General Unsecured Claims.

The holders of the Allowed Interests and Claims in Class 6 will
have their Interests and Claims against the Debtors extinguished
as of the Effective Date and will receive no distributions under
the Plan.

A full-text copy of the Disclosure Statement dated July 8 is
available at http://bankrupt.com/misc/TACTICALds.pdf

                   About Tactical Intermediate

Tactical Intermediate Holdings, Inc., and its affiliates'
operations are comprised of two major lines of business -- a
footwear line, and a fabric and clothing line, including flame
resistant material ("Massif").

Footwear is comprised of the Altama group ("Altama") and the
Wellco Group ("Wellco").  Wellco was founded in 1941 and
manufactures and sells combat boots, primarily for the United
States Military as well as commercial uniform and work boots for a
variety of customers.  Altama was founded in 1969 and manufactures
and sells boots for the United States and international militaries
as well as for federal, state and local agencies, military
schools, police, uniform shops and Army/Navy retailers.

Headquartered in Ashland, Oregon, Massif was founded in 1999 by a
group of veteran search and rescue team members and alpine
climbers who believed that the options for sanctioned fire
resistant protective gear at the time were too limited.  Massif is
a world leader in supplying flame resistant and high performance
outdoor apparel to the military, law enforcement, search and
rescue professionals, and the wildland firefighting community.

Tactical Intermediate Holdings, Inc., and its affiliates sought
Chapter 11 protection in Delaware on July 8, 2014, with plans to
quickly sell their assets.

Judge Kevin Gross is assigned to the Chapter 11 cases.  The
Debtors have requested joint administration of the cases under
Case No. 14-11659.

The Debtors have tapped Klehr Harrison Harvey Branzburg LLP as
counsel, FTI Consulting, Inc., as financial advisor, Houlihan
Lokey Capital, Inc., as investment banker, and PrimeClerk as
claims and noticing agent.

Massif Apparel Enterprises LLC, the entity formed by Sun Capital
Partners Group V LLC, to serve as stalking horse bid for Massif's
assets, is represented by Corey Fox, Esq., Brad Weiland, Esq., and
Gregory F. Fesce, Esq., at Kirkland & Ellis LLP.


TACTICAL INTERMEDIATE: Has Interim Approval of $2.8MM DIP Loan
--------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware gave Tactical Intermediate Holdings, Inc., et al.,
interim authority to obtain up to $2,800,000 in senior secured
postpetition financing from Wells Fargo Bank, N.A., as lender.
The Debtors are also given interim authority to use cash
collateral securing their prepetition indebtedness.  Under the DIP
Loan Agreement, the Debtors are required by the DIP Lender to
close the sale of their assets on or before Sept. 12, 2014.

The hearing to consider final approval of the DIP Facility is
scheduled for July 30, at 12:30 p.m. (Eastern time).  Objections
are due on or before July 23 and must be served to:

   * counsel to the Debtors:

     Morton R. Branzburg, Esq.
     Domenic E. Pacitti, Esq.
     KLEHR HARRISON HARVEY BRANZBURG LLP
     1835 Market Street, Suite 1400
     Philadelphia, PA 19103

   * counsel to the Prepetition Secured Lender and DIP Lender:

     J. Michael Booe, Esq.
     Felton E. Parrish, Esq.
     Nathan P. Lebioda, Esq.
     WINSTON & STRAWN LLP
     100 North Tryon Street
     Charlotte, NC 28202-1078

        -- and --

     Francis A. Monaco, Jr., Esq.
     WOMBLE CARLYLE SANDRIDGE & RICE, PLLC
     222 Delaware Avenue, Suite 1501
     Wilmington, DE 19801

   * counsel to the Subordinated Lender:

     Joshua A. Sussberg, Esq.
     KIRKLAND & ELLIS LLP
     601 Lexington Avenue
     New York, NY 10022-4611

A full-text copy of the Interim DIP Order with Budget is available
at http://bankrupt.com/misc/TACTICALdipord0709.pdf

                   About Tactical Intermediate

Tactical Intermediate Holdings, Inc., and its affiliates'
operations are comprised of two major lines of business -- a
footwear line, and a fabric and clothing line, including flame
resistant material ("Massif").

Footwear is comprised of the Altama group ("Altama") and the
Wellco Group ("Wellco").  Wellco was founded in 1941 and
manufactures and sells combat boots, primarily for the United
States Military as well as commercial uniform and work boots for a
variety of customers.  Altama was founded in 1969 and manufactures
and sells boots for the United States and international militaries
as well as for federal, state and local agencies, military
schools, police, uniform shops and Army/Navy retailers.

Headquartered in Ashland, Oregon, Massif was founded in 1999 by a
group of veteran search and rescue team members and alpine
climbers who believed that the options for sanctioned fire
resistant protective gear at the time were too limited.  Massif is
a world leader in supplying flame resistant and high performance
outdoor apparel to the military, law enforcement, search and
rescue professionals, and the wildland firefighting community.

Tactical Intermediate Holdings, Inc., and its affiliates sought
Chapter 11 protection in Delaware on July 8, 2014, with plans to
quickly sell their assets.

Judge Kevin Gross is assigned to the Chapter 11 cases.  The
Debtors have requested joint administration of the cases under
Case No. 14-11659.

The Debtors have tapped Klehr Harrison Harvey Branzburg LLP as
counsel, FTI Consulting, Inc., as financial advisor, Houlihan
Lokey Capital, Inc., as investment banker, and PrimeClerk as
claims and noticing agent.

Massif Apparel Enterprises LLC, the entity formed by Sun Capital
Partners Group V LLC, to serve as stalking horse bid for Massif's
assets, is represented by Corey Fox, Esq., Brad Weiland, Esq., and
Gregory F. Fesce, Esq., at Kirkland & Ellis LLP.


TACTICAL INTERMEDIATE: Has Interim OK to Pay Critical Vendors
-------------------------------------------------------------
Tactical Intermediate Holdings, Inc., et al., sought and obtained
interim authority from the U.S. Bankruptcy Court for the District
of Delaware to pay or honor prepetition critical vendor claims,
provided that the Debtors pay only up to a maximum aggregate cap
of $187,000.  The hearing to consider final approval of the
request will be held on July 30, 2014, at 12:30 p.m. (prevailing
Eastern time).  Objections must be filed on or before July 27.  In
the event no objections to the entry of the final order are timely
received, the Court may enter the final order without need for the
final hearing.

                   About Tactical Intermediate

Tactical Intermediate Holdings, Inc., and its affiliates'
operations are comprised of two major lines of business -- a
footwear line, and a fabric and clothing line, including flame
resistant material ("Massif").

Footwear is comprised of the Altama group ("Altama") and the
Wellco Group ("Wellco").  Wellco was founded in 1941 and
manufactures and sells combat boots, primarily for the United
States Military as well as commercial uniform and work boots for a
variety of customers.  Altama was founded in 1969 and manufactures
and sells boots for the United States and international militaries
as well as for federal, state and local agencies, military
schools, police, uniform shops and Army/Navy retailers.

Headquartered in Ashland, Oregon, Massif was founded in 1999 by a
group of veteran search and rescue team members and alpine
climbers who believed that the options for sanctioned fire
resistant protective gear at the time were too limited.  Massif is
a world leader in supplying flame resistant and high performance
outdoor apparel to the military, law enforcement, search and
rescue professionals, and the wildland firefighting community.

Tactical Intermediate Holdings, Inc., and its affiliates sought
Chapter 11 protection in Delaware on July 8, 2014, with plans to
quickly sell their assets.

Judge Kevin Gross is assigned to the Chapter 11 cases.  The
Debtors have requested joint administration of the cases under
Case No. 14-11659.

The Debtors have tapped Klehr Harrison Harvey Branzburg LLP as
counsel, FTI Consulting, Inc., as financial advisor, Houlihan
Lokey Capital, Inc., as investment banker, and PrimeClerk as
claims and noticing agent.

Massif Apparel Enterprises LLC, the entity formed by Sun Capital
Partners Group V LLC, to serve as stalking horse bid for Massif's
assets, is represented by Corey Fox, Esq., Brad Weiland, Esq., and
Gregory F. Fesce, Esq., at Kirkland & Ellis LLP.


TACTICAL INTERMEDIATE: Can Employ Prime Clerk as Claims Agent
-------------------------------------------------------------
Tactical Intermediate Holdings, Inc., et al., are authorized by
the U.S. Bankruptcy Court for the District of Delaware to employ
Prime Clerk LLC as claims and noticing agent.

                   About Tactical Intermediate

Tactical Intermediate Holdings, Inc., and its affiliates'
operations are comprised of two major lines of business -- a
footwear line, and a fabric and clothing line, including flame
resistant material ("Massif").

Footwear is comprised of the Altama group ("Altama") and the
Wellco Group ("Wellco").  Wellco was founded in 1941 and
manufactures and sells combat boots, primarily for the United
States Military as well as commercial uniform and work boots for a
variety of customers.  Altama was founded in 1969 and manufactures
and sells boots for the United States and international militaries
as well as for federal, state and local agencies, military
schools, police, uniform shops and Army/Navy retailers.

Headquartered in Ashland, Oregon, Massif was founded in 1999 by a
group of veteran search and rescue team members and alpine
climbers who believed that the options for sanctioned fire
resistant protective gear at the time were too limited.  Massif is
a world leader in supplying flame resistant and high performance
outdoor apparel to the military, law enforcement, search and
rescue professionals, and the wildland firefighting community.

Tactical Intermediate Holdings, Inc., and its affiliates sought
Chapter 11 protection in Delaware on July 8, 2014, with plans to
quickly sell their assets.

Judge Kevin Gross is assigned to the Chapter 11 cases.  The
Debtors have requested joint administration of the cases under
Case No. 14-11659.

The Debtors have tapped Klehr Harrison Harvey Branzburg LLP as
counsel, FTI Consulting, Inc., as financial advisor, Houlihan
Lokey Capital, Inc., as investment banker, and PrimeClerk as
claims and noticing agent.

Massif Apparel Enterprises LLC, the entity formed by Sun Capital
Partners Group V LLC, to serve as stalking horse bid for Massif's
assets, is represented by Corey Fox, Esq., Brad Weiland, Esq., and
Gregory F. Fesce, Esq., at Kirkland & Ellis LLP.


TACTICAL INTERMEDIATE: Court Issues Joint Administration Order
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware issued an
order directing the procedural consolidation of the Chapter 11
cases of Tactical Intermediate Holdings, Inc., and its debtor
affiliates under Case No. 14-11659.

                   About Tactical Intermediate

Tactical Intermediate Holdings, Inc., and its affiliates'
operations are comprised of two major lines of business -- a
footwear line, and a fabric and clothing line, including flame
resistant material ("Massif").

Footwear is comprised of the Altama group ("Altama") and the
Wellco Group ("Wellco").  Wellco was founded in 1941 and
manufactures and sells combat boots, primarily for the United
States Military as well as commercial uniform and work boots for a
variety of customers.  Altama was founded in 1969 and manufactures
and sells boots for the United States and international militaries
as well as for federal, state and local agencies, military
schools, police, uniform shops and Army/Navy retailers.

Headquartered in Ashland, Oregon, Massif was founded in 1999 by a
group of veteran search and rescue team members and alpine
climbers who believed that the options for sanctioned fire
resistant protective gear at the time were too limited.  Massif is
a world leader in supplying flame resistant and high performance
outdoor apparel to the military, law enforcement, search and
rescue professionals, and the wildland firefighting community.

Tactical Intermediate Holdings, Inc., and its affiliates sought
Chapter 11 protection in Delaware on July 8, 2014, with plans to
quickly sell their assets.

Judge Kevin Gross is assigned to the Chapter 11 cases.  The
Debtors have requested joint administration of the cases under
Case No. 14-11659.

The Debtors have tapped Klehr Harrison Harvey Branzburg LLP as
counsel, FTI Consulting, Inc., as financial advisor, Houlihan
Lokey Capital, Inc., as investment banker, and PrimeClerk as
claims and noticing agent.

Massif Apparel Enterprises LLC, the entity formed by Sun Capital
Partners Group V LLC, to serve as stalking horse bid for Massif's
assets, is represented by Corey Fox, Esq., Brad Weiland, Esq., and
Gregory F. Fesce, Esq., at Kirkland & Ellis LLP.


TELEPHONE AND DATA: Fitch Cuts Issuer Default Ratings to 'BB+'
--------------------------------------------------------------
Fitch Ratings has downgraded the Issuer Default Ratings (IDRs) and
long-term, senior unsecured debt ratings of Telephone and Data
Systems, Inc. (TDS) and its subsidiary United States Cellular
Corp. (USM) to 'BB+' from 'BBB-'. USM's ratings consider the
consolidated ratings at TDS. The Rating Outlook remains Stable.

Key Rating Drivers

The downgrade reflects Fitch's belief that in 2014 USM's wireless
operations will continue to struggle with the highly competitive
wireless environment, leading to weak EBITDA margins and lower
EBITDA. While subscriber trends in core markets may stabilize in
the second half of 2014, the billing system and related issues
that surfaced in late 2013 and in early 2014, as well as higher
losses on equipment driven by strong smartphone sales, are
expected to suppress 2014 operating profitability.

Billing system issues that contributed to higher voluntary churn
in the fourth quarter of 2013 have declined, but higher levels of
involuntary churn occurred in the first quarter of 2014 as a small
but impactful percentage of customers had stopped paying their
bills and the company dropped their service.

Postpaid subscriber additions at USM have been under material
pressure for several years. In the fourth quarter of 2013, USM
began selling the iPhone which Fitch believes may reduce voluntary
churn over time, and should the company succeed in improving gross
additions, may eventually lead to subscriber growth. USM's gross
adds in its core markets improved in the first quarter of 2014 by
approximately 12% to reach 197,000, but Fitch believes continued
improvement is needed to generate subscriber growth even if total
postpaid churn can return to recent historical levels
approximating 1.6%. Moreover, increased losses on equipment are
expected as USM loads more costly 4G LTE smartphones onto its
network, with the impact being offset by increased service revenue
over time. Losses on equipment could come down if there is a
strong uptake of equipment installment plans.

The ratings at TDS, and by extension, USM, reflect the current
strong liquidity position owing to the substantial cash balances,
conservative balance sheet, undrawn revolving credit facilities
and long dated maturities. The consolidated company does not have
any material maturities until 2033.

Fitch expects TDS's gross leverage to rise to approximately 3.0x-
3.1x at yearend 2014, up from 2.1x at year-end 2013. Fitch has
included a portion of partnership distributions (at a level which
Fitch views is sustainable) received from entities it does not
control in its calculations. Assuming participation in upcoming
wireless spectrum auctions, the sale of its non-core tower
business, the completion of the acquisition of the BendBroadband
group of companies and continued wireless network investment,
Fitch expects leverage to remain around the 3.0x-3.1x level in the
intermediate term.

Fitch expects free cash flow (FCF) levels in 2014 and 2015 to be
negative due to the continued high level of capital investment and
weaker wireless performance. In 2013, FCF was a negative $444
million. FCF would have been less severely negative if adjusted to
remove the taxes paid on asset sale gains and the portion of USM's
special dividend paid to noncontrolling shareholders. Fitch notes
that this is a significant change from positive levels of FCF,
which through 2011 exceeded $200 million per annum.

The sale of noncore assets has mitigated the effect of negative
FCF on USM and TDS. USM is in the process of selling the wireless
towers located in the Chicago and St. Louis markets that were sold
to Sprint. This follows the sale of certain wireless spectrum
licenses in 2013 and 2014 for more than $400 million.

In relation to its total outstanding debt of $1.721 billion at
March 31, 2014, TDS has relatively high balances of cash and
short-term investments, which amounted to $873 million and $40
million, respectively. A portion of the company's cash balance is
expected to be used to finance the $261 million cash acquisition
of BendBroadband in the third quarter of 2014.

Per policy, the company's maturities are very long. The earliest
notes at TDS are due in 2045 ($116 million) and at USM the
earliest maturity is in 2033 ($532 million). At TDS, the $400
million, undrawn revolving credit facility matures in December
2017, and at USM, the $300 million undrawn revolving credit
facility also matures in December 2017.

TDS has authorized share repurchase programs at both TDS and USM
and under both programs has repurchased a total of approximately
$15 million over the last 12 months ending March 31, 2014. Future
repurchases are expected to continue at a moderate level.

Rating Sensitivities

Negative Rating Action: Longer term, Fitch believes TDS's ability
to grow revenues and cash flows while competing effectively
against much larger national operators is key to maintaining its
'BB+' IDR. In addition, if gross leverage -- calculated including
partial credit for material wireless partnership distributions in
EBITDA -- approaches 3.5x, a negative action could be
contemplated.

Positive Rating Action: Fitch believes that competitive factors,
current subscriber trends and the company's relative position in
the wireless industry would not likely allow a positive rating
action at this time.


TEM ENTERPRISES: Court Approves Cash Collateral Use for 60 Days
---------------------------------------------------------------
Bankruptcy Judge August B. Landis signed off on July 2, 2014, a
stipulation and agreed order authorizing TEM Enterprises' use of
cash collateral.

The stipulation entered between the Debtor and the so-called Vx
Entities, including V31-A&E LLC, the lender, the secured creditor
as to the collateral, and creditor Triton Aviation California,
Inc., provides for the use of the lender's cash collateral to meet
the Debtor's ordinary operating expenses.

The Debtor will be authorized to use cash collateral, subject to
the occurrence of an event of default, until the date which is
60 days from the date of the cash collateral order, unless
otherwise extended in writing.

The stipulation also provided that:

   1. the Debtor agreed that at least $105,000 of the $150,000 set
forth in the approved budget for aircraft lease payments is
payable to Triton;

   2. the Debtor agreed that approximately $90,000 of the $130,000
set forth in the approved budget for aircraft maintenance reserves
is also payable to Triton; and

   3. the cash collateral order constitutes adequate protection
for the Debtor's use, consumption, sale, collection or other
disposition of any of the collateral (including the cash
collateral).

On June 28, the Debtor, in response to Triton's opposition to
motion for approval of stipulation, said Triton, an aircraft
lessor, has not filed a motion for adequate protection, nor has
Triton met its burden to demonstrate that it is not adequately
protected under the circumstances.

Triton has opposed to the motion stating that the budget
completely leave out any payment to Triton, the budget
demonstrates that there will be negative cash flow and that the
best case scenario is an ending cash balance of $61,104, which is
short of the amounts that would be necessary to cure the defaults
under the Triton Lease and pay all of the other costs and expenses
of the estate.

On June 17, the Debtor requested for permission to use cash
collateral.  On June 16, the Debtor entered into a joint
stipulation and agreed order authorizing the use of cash
collateral.

Copies of the stipulations are available for free at:

   http://bankrupt.com/misc/TEMENTERPRISES_102_cashcollstip.pdf
   http://bankrupt.com/misc/TEMENTERPRISES_41_cashcollstip.pdf
   http://bankrupt.com/misc/TEMENTERPRISES_39_cashcollstip.pdf

Vx Entities are represented by:

         David Weitman, Esq.
         K&L GATES LLP
         1717 Main Street, Suite 2800
         Dallas, TX 75201
         Tel: 214-939-5500
         Fax: 214-939-5849
         E-mail: david.weitman@klgates.com

              - and -

         Bob L. Olson, Esq.
         SNELL & WILMER
         3883 Howard Hughes Pkwy No. 1100
         Las Vegas, NV 89169-5958
         Tel: (702) 784-5295
         E-mail: bolson@swlaw.com

Triton Aviation California, Inc. is represented by:

         H. Mark Mersel, Esq.
         Natalie B. Daghbandan, Esq.
         BRYAN CAVE LLP
         3161 Michelson Drive, Suite 1500
         Irvine, CA 92612-4414
         Tel: (949) 223-7000
         Fax: (949) 223-7100
         E-mails: mark.mersel@bryancave.com
                  natalie.daghbandan@bryancave.com

The Debtor is represented by:

         Ryan J. Works, Esq.
         Amanda M. Perach, Esq.
         McDONALD CARANO WILSON LLP
         2300 West Sahara Avenue, 12th Floor
         Las Vegas, NV 89102
         Tel: (702) 873-4100
         Fax: (702) 873-9966
         E-mail: rworks@mcdonaldcarano.com
                 aperach@mcdonaldcarano.com

                      About Tem Enterprises

Tem Enterprises dba Xtra Airways filed a Chapter 11 bankruptcy
petition (Bankr. D. Nev. Case No. 14-13955) on June 4, 2014.
Judge August B. Landis oversees the case.  The Debtor disclosed
$6,129,714 in assets and $18,386,432 in liabilities as of the
Chapter 11 filing.  Lisa Dunn signed the petition as president.
McDonald Carano Wilson LLP serves as the Debtor's counsel.


TEM ENTERPRISES: Files List of 20 Largest Unsecured Creditors
-------------------------------------------------------------
Tem Enterprises dba Xtra Airways filed with the U.S. Bankruptcy
Court for the District of Nevada a list of its 20 largest
unsecured creditors, disclosing:

   Name of Creditor                               Amount of Claim
   ---------------                                ---------------
Southern Sky Air & Tours, LLC                       $4,169,398
c/o Chapter 7 Trustee
Gina O'Neill, Esq.
1800 West Park drive, Suite 400
Westborough, MA 01581-3941

Triton Aviation California, Inc.                    $2,870,376
55 Green Street, Suite 500
San Francisco, CA 94111

Stambaugh Aviation                                  $1,840,453
1000 Jetport Road
Brunswick, GA 31525

V43-A&E LLC                                         $1,769,659
c/o Wells Fargo Bank
Northwest, N.A.
Corporate Trust Lease Group
260 N. Charles Lindbergh Dr.
Salt Lake City, UT 84116

Flugfelagid Atlanta ehf. dba AAI                    $1,611,938
Hlidasmari 3, 201 Kopavogi,
Iceland

MSA V                                               $1,439,755
c/o AWAS Aviation Services Inc.
444 Madison
New York, NY 10022

V37X-737 LLC                                        $1,120,272
915 Front Street
San Francisco, CA 94111

The Insurance Group, Inc.                             $483,489
200E Southampton Dr.
Columbia, MO 65203

CXP Management LLC                                    $280,500
805 W. Idaho Street
Suite 400
Boise, ID 83702

Aerp Turbine, Inc.                                    $271,056
P.O. Box 731891
Dallas, TX 75373-1891

VISA                                                  $172,155

CSI Aviation, Inc.                                    $148,952

Airplanes, Inc.                                       $136,628

MTU Maintenance                                       $128,943

Boeing Commercial Airplanes                           $122,106

TP Aerospace Leasing                                  $116,417

Chemoil Corporation                                    $79,166

Federal Express Corporation                            $72,698

American Express                                       $69,326

Cozen O'Connor                                         $62,893

                      About Tem Enterprises

Tem Enterprises dba Xtra Airways filed a Chapter 11 bankruptcy
petition (Bankr. D. Nev. Case No. 14-13955) on June 4, 2014.
Judge August B. Landis oversees the case.  The Debtor disclosed
$6,129,714 in assets and $18,386,432 in liabilities as of the
Chapter 11 filing.  Lisa Dunn signed the petition as president.
McDonald Carano Wilson LLP serves as the Debtor's counsel.


TEM ENTERPRISES: Files Schedules of Assets and Liabilities
----------------------------------------------------------
TEM Enterprises dba XTRA Airways filed on June 26, 2014, with the
U.S. Bankruptcy Court for the District of Nevada its schedules of
assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property            $6,129,714
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                  $215,008
  E. Creditors Holding
     Unsecured Priority
     Claims                                           $37,219
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                       $18,134,205
                                 -----------      -----------
        Total                     $6,129,714      $18,386,432

A copy of the schedules is available for free at:

   http://bankrupt.com/misc/TEMENTERPRISES_85_sal.pdf

The Debtor sought an extension of its deadline to file schedules
of assets and liabilities; or to provide required information and
statement of financial affairs.

                      About Tem Enterprises

Tem Enterprises dba Xtra Airways filed a Chapter 11 bankruptcy
petition (Bankr. D. Nev. Case No. 14-13955) on June 4, 2014.
Judge August B. Landis oversees the case.  The Debtor estimated
assets and debts of at least $10 million.  Lisa Dunn signed the
petition as president.  McDonald Carano Wilson LLP serves as the
Debtor's counsel.


TEM ENTERPRISES: July 23 Hearing on Bid to Assume Accountemps Deal
------------------------------------------------------------------
The Bankruptcy Court will convene a hearing on July 23, 2014, at
1:30 p.m., to consider Tem Enterprises' motion to assume and cure
executory contract with Accountemps.

On May 12, the Debtor and Accountemps entered into an agreement
which provided for the temporary employment of Robert Godfrey as
the chief financial officer of the Debtor.

The Debtor related that the assumption of the agreement is
critical to its ultimate success.

Accountemps stated that it would not allow for the continued
services of Mr. Godfrey unless it was paid in full.

Due to the Debtor's bankruptcy filing, its first payment to
Accountemps was not honored by the bank.  As of the Petition Date,
the Debtor owes Accountemps a total of $10,277 for the work
performed by Godfrey prior to bankruptcy.

According to the Debtor, permitting the cure and assumption of the
agreement will allow the CFO to continue to provide services to
the Debtor, pursuant to the agreement.

                      About Tem Enterprises

Tem Enterprises dba Xtra Airways filed a Chapter 11 bankruptcy
petition (Bankr. D. Nev. Case No. 14-13955) on June 4, 2014.
Judge August B. Landis oversees the case.  The Debtor disclosed
$6,129,714 in assets and $18,386,432 in liabilities as of the
Chapter 11 filing  Lisa Dunn signed the petition as president.
McDonald Carano Wilson LLP serves as the Debtor's counsel.



TLO LLC: Wants to Distribute $35-Mil. to Tech Inc.
--------------------------------------------------
TLFO, LLC, the post-confirmation Debtor, and the Oversight
Committee, filed a joint motion for authority to make interim
distributions under the Debtor's Confirmed Plan of Liquidation.

The Debtor on March 7, 2013 filed an Amended Plan of Liquidation.
The Plan was confirmed by the Bankruptcy Court on April 30, 2014.

Pursuant to the Plan, Robert C. Furr was appointed the Plan
Disbursing Agent for the Debtor, with the authority, among other
things, to propose and make distributions to holders of allowed
claims and interests.

The Debtor presently holds $123,504,378 in net proceeds from the
sale of its assets to TransUnion.  The Debtor further anticipates
the collection of an additional $5,832,822 from receivables in
connection with the sale and proceeds from the expected
settlement, which will bring the total amount available for
distribution to $129,337,199.

Under the terms of the Plan, the Plan Disbursing Agent is tasked
with making distributions to holders of allowed unsecured claims
in Class 3 of the Plan; provided, however, that no distribution to
the holders of the allowed unsecured claims can occur "unless and
until all Allowed Administrative Claims, all Allowed Post-
Confirmation Administrative Claims, all Allowed Priority Claims,
and all Allowed Claims in Classes 1 and 2 have been paid in full,
reserved or otherwise resolved, and/or included in or accounted
for in the Distribution at issue."

Technology Investors, Inc. ("Tech Inc.") filed Claim No. 35 for
its secured claim of $87,110,686.  Tech Inc. also filed Claim No.
36 to preserve any unsecured claim that it may have as a result of
its potentially being an undersecured creditor.  In addition, Tech
Inc. holds a Class A Equity Interest in the Debtor in an amount
not less than 47.87 percent.

Prior to confirmation of the Plan, two constituencies of equity
interest holders instituted two separate adversary proceedings
against Tech Inc. seeking to recharazterize the Tech Inc. claism
to equity in the Debtor.

The Plan Disbursing Agent, the Debtor, the Committee and their
respective professionals have determined that a conservative
interim Distribution of $35,000,000 can be made to Tech Inc. at
this time, which Distribution will cut off the accrual of interest
at the default rate on $35,000,000 pending the outcome or
resolution of the Adversary Proceedings.  They believe that Tech
Inc. would receive in excess of $48 million even if it loses the
Adversary Proceedings, because it owns 47.87 percent of Class A
Equity interest in the Debtor.

The Plan Disbursing Agent, the Debtor, and the Committee believe
that the Adversary Proceedings potentially could last for two
years or longer, including through appeals.  Due to the size of
the Secured Claim and the default interest accruing on the Secured
Claim, they believe that the default interst that is estimate to
accrue would exceed $11,000,000.

However, a Distribution to Tech Inc. of $35,000,000 will greatly
reduce the outstanding obligation to Tech Inc., which will in turn
greatly reduce the amount of default interest that would need to
be reserved by the Debtor and the Plan Disbursing Agent.  Such
Distribution and reduced reserve would then enable the Debtor and
Plan Disbursing Agent to make a significant interim Distribution
of 80% to Holders of Class 3 Allowed Unsecured Claims.

The Oversight Committee retained as counsel:

         Paul J. Battista, Esq.
         GENOVESE JOBLOVE & BATTISTA P.A.
         100 S.E. Second Street, 44th Floor
         Miami, FL 33131
         Tel: (305) 349-2300
         Fax: (305) 349-2310
         E-mail: pbattista@gjb-law.com

As reported in the Troubled Company Reporter on May 19, 2014,
citing report from Bill Rochelle, the bankruptcy columnist for
Bloomberg News, said the Debtor won court approval for a
liquidating Chapter 11 plan with at least $18.7 million for
distribution to shareholders, assuming the deceased founder's
secured claim of $91.1 million isn't knocked out.

TCR noted, on March 13, 2014, Judge Paul G. Hyman approved the
disclosure statement explaining TLO LLC's Amended Plan.  The Plan,
filed March 7, projects that $18 million will be available for
equity interest holders, assuming that the secured claim of Hank
Asher, the Debtor's deceased founder, will be allowed in full.  If
the secured claim of TI is not recharacterized, then TI will be
entitled to its $89 million claim, including default interest,
attorneys' fees and costs -- the current amount of which is in
excess of $91 million and began accruing interest at the default
rate of 6.25% on January 24, 2014.  The Plan proposes that $16.5
million is used for full payment of unsecured creditors.

                    About TLO LLC nka TLFO LLC

TLO LLC, a provider of risk-mitigation services, filed a petition
for Chapter 11 reorganization (Bankr. S.D. Fla. Case No.
13-bk20853) on May 9, 2013, in West Palm Beach, Florida, near the
company's headquarters in Boca Raton.  The petition was signed by
E. Desiree Asher as CEO.

Judge Paul G. Hyman, Jr., presides over the case.  Robert C. Furr,
Esq., and Alvin S. Goldstein, Esq., at Furr & Cohen, serve as the
Debtor's counsel.  Bayshore Partners, LLC is the Debtor's
investment banker.  Thomas Santoro and GlassRatner Advisory &
Capital Group, LLC are the Debtor's financial advisors.

Paul J. Battista, Esq., and Mariaelena Gayo-Guitian, Esq., at
Genovese, Joblove & Battista, P.A., represent the Official
Committee of Unsecured Creditors as counsel.

The Debtor disclosed assets of $46.6 million and liabilities of
$109.9 million, including $93.4 million in secured claims.  The
principal lender is Technology Investors Inc., owed $89 million.
TII is owned by the estate of Hank Asher, the company's primary
owner who died this year.  There is $4.6 million secured by
computer equipment.



TLO LLC: Oversight Committee Hires GlassRatner as Fin'l Advisor
---------------------------------------------------------------
The Post-Confirmation Oversight Committee of TLFO LLC asks the
U.S. Bankruptcy Court for the Southern District of Florida for
authority to employ Thomas Santoro and GlassRatner Advisory &
Capital Group, LLC, as its financial advisor.

The firm will:

  a) assist in the review of financial information distributed by
     the Liquidating TLFO and the Plan Disbursing Agent, to
     creditors and others, including, but not limited to, proposed
     interim distributions to respective creditor classes;

  b) assist the Oversight Committee in analyzing the claims of the
     Debtor's creditors and in negotiating with such creditors;
     and

  c) monitor and assist the Oversight Committee in connection with
     the pending objections to the claims asserted by Technology
     Investors, Inc., and the pending Adversary Proceedings as
     well as any claims that may be asserted by the Oversight
     Committee in connection therewith:

  d) provided Other services as requested by the Oversight
     Committee.

The hourly rates for personnel at GlassRatner are:

     Personnel                   Rate
     ---------                   ----
     Thomas Santoro              $425
     William King                $350
     Other Professionals         $150-$295

The Oversight Committee assures the Court that the firm is a
"disinterested person" within the meaning of Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

         GLASSRATNER ADVISORY & CAPITAL GROUP, LLC
         1101 Brickell Avenue, Suite S-503
         Miami, FL 33131
         Tel: (305) 358-6092
         Fax: (305) 358-7039

                    About TLO LLC nka TLFO LLC

TLO LLC, a provider of risk-mitigation services, filed a petition
for Chapter 11 reorganization (Bankr. S.D. Fla. Case No.
13-bk20853) on May 9, 2013, in West Palm Beach, Florida, near the
company's headquarters in Boca Raton.  The petition was signed by
E. Desiree Asher as CEO.

Judge Paul G. Hyman, Jr., presides over the case.  Robert C. Furr,
Esq., and Alvin S. Goldstein, Esq., at Furr & Cohen, serve as the
Debtor's counsel.  Bayshore Partners, LLC is the Debtor's
investment banker.  Thomas Santoro and GlassRatner Advisory &
Capital Group, LLC are the Debtor's financial advisors.

Paul J. Battista, Esq., and Mariaelena Gayo-Guitian, Esq., at
Genovese, Joblove & Battista, P.A., represent the Official
Committee of Unsecured Creditors as counsel.

The Debtor disclosed assets of $46.6 million and liabilities of
$109.9 million, including $93.4 million in secured claims.  The
principal lender is Technology Investors Inc., owed $89 million.
TII is owned by the estate of Hank Asher, the company's primary
owner who died this year.  There is $4.6 million secured by
computer equipment.


TLO LLC: Withdraws Bid to Amend Employment of Ver Ploeg
-------------------------------------------------------
TLFO LLC informed the U.S. Bankruptcy Court for the Southern
District of Florida that it withdraws the request to modify the
terms of employment of special counsel, Law Firm of Ver Ploeg &
Lumpkin, for representation in insurance litigation to make it a
contingency free arrangement.

As reported in the Troubled Company Reporter on March 31, 2014,
the Debtor requested that the Court amend the order dated July 1,
2013, authorizing the employment of Ver Ploeg & Lumpkin, P.A., as
special counsel in insurance litigation.

The Debtor, in its March 20 application, said that it is the
beneficiary of a $40 million key man life insurance policy on its
founder, Hank Asher, who passed away in January 2013.  The policy
proceeds have not yet been paid and represent a significant asset
of the bankruptcy estate.

The Debtor proposed that the terms of employment of the firm be on
a contingency fee basis going forward from March 3, 2014.  The
Court has previously approved the employment on a general hourly
basis.

The Debtor proposed this fee arrangement:

   a. the fee will be on a contingency basis of 18% of any
      recovery in the contract case;

   b. the fee will be on a contingency basis of 20% if an
      appeal is taken in the contract case;

   c. if any bad faith damages are awarded, the fee will be 40%;

   d. in addition, the Debtor will pay all costs of the
      litigation pursuant to the term of the contingency fee
      agreement.

As of the date of the modification of the fee agreement, the
Debtor said it has been billed $258,000 in fees.  The amount of
$113,000 has been paid to Ver Poleg until January 2014.

                    About TLO LLC nka TLFO LLC

TLO LLC, a provider of risk-mitigation services, filed a petition
for Chapter 11 reorganization (Bankr. S.D. Fla. Case No.
13-bk20853) on May 9, 2013, in West Palm Beach, Florida, near the
company's headquarters in Boca Raton.  The petition was signed by
E. Desiree Asher as CEO.

Judge Paul G. Hyman, Jr., presides over the case.  Robert C. Furr,
Esq., and Alvin S. Goldstein, Esq., at Furr & Cohen, serve as the
Debtor's counsel.  Bayshore Partners, LLC is the Debtor's
investment banker.  Thomas Santoro and GlassRatner Advisory &
Capital Group, LLC are the Debtor's financial advisors.

Paul J. Battista, Esq., and Mariaelena Gayo-Guitian, Esq., at
Genovese, Joblove & Battista, P.A., represent the Official
Committee of Unsecured Creditors as counsel.

The Debtor disclosed assets of $46.6 million and liabilities of
$109.9 million, including $93.4 million in secured claims.  The
principal lender is Technology Investors Inc., owed $89 million.
TII is owned by the estate of Hank Asher, the company's primary
owner who died this year.  There is $4.6 million secured by
computer equipment.


TLO LLC: Oversight Panel Taps Genovese Joblove as Counsel
---------------------------------------------------------
The Post-Confirmation Oversight Committee of TLFO LLC asks the
U.S. Bankruptcy Court for the Southern District of Florida for
permission to employ Paul J. Battista, Esq. and Genovese Joblove &
Battista, P.A., as its counsel.

The firm is expected to perform services that will be necessary to
finalize the liquidation of the Debtor's assets and payment in
full of all allowed unsecured claims (plus Post Petition Interest)
in accordance with the amended plan.  The firm will:

  a) advise the Oversight Committee with respect to its rights,
     powers, and duties post confirmation;

  b) assist and advise the Oversight Committee in its
     consultations with the Plan Disbursing Agent in respect of
     the liquidation of the TLFO assets;

  c) assist and advise the Oversight Committee concerning
     retention of Post Confirmation Professionals;

  c) assist the Oversight Committee in analyzing the claims of the
     Debtor's creditors and in negotiating with such creditors;

  d) monitor and assist the Oversight Committee in connection with
     the pending objections to the claims asserted by Technology
     Investors, Inc., and the pending Adversary Proceedings as
     well as any claims that may be asserted by the Oversight
     Committee in connection therewith:

  e) assist and advise the Oversight Committee with respect to its
     communications with the other professionals and general
     creditor body regarding matters related to the liquidation of
     the TLFO assets.

  f) represent the Oversight Committee at all hearings and other
     proceedings in this Chapter 11 case;

  g) review and analyze all applications, motions, orders, and
     pleadings filed with the Court and advise the Oversight
     Committee as to their propriety;

  h) assist the Oversight Committee in preparing pleadings and
     applications as may be necessary in furtherance of the
     Oversight Committee's interests and objectives; and

  i) perform other legal services as may be required and are
     deemed to be in the interests of the Oversight Committee in
     accordance with the terms of the Amended Plan and
     Confirmation Order.

Paul J. Battista and Mariaelena Guitian, Esq., the attorneys who
will be principally working on the cases, will bill $595 and $450
per hour, respectively.  The rates of other professionals are:

      Attorneys                $200 to $595
      Associate Attorneys      $200 to $350
      Legal Assistants         $150 to $195

The Oversight Committee assures the Court that the firm is a
"disinterested person" within the meaning of Section 101(14) of
the Bankruptcy Code.

                    About TLO LLC nka TLFO LLC

TLO LLC, a provider of risk-mitigation services, filed a petition
for Chapter 11 reorganization (Bankr. S.D. Fla. Case No.
13-bk20853) on May 9, 2013, in West Palm Beach, Florida, near the
company's headquarters in Boca Raton.  The petition was signed by
E. Desiree Asher as CEO.

Judge Paul G. Hyman, Jr., presides over the case.  Robert C. Furr,
Esq., and Alvin S. Goldstein, Esq., at Furr & Cohen, serve as the
Debtor's counsel.  Bayshore Partners, LLC is the Debtor's
investment banker.  Thomas Santoro and GlassRatner Advisory &
Capital Group, LLC are the Debtor's financial advisors.

Paul J. Battista, Esq., and Mariaelena Gayo-Guitian, Esq., at
Genovese, Joblove & Battista, P.A., represent the Official
Committee of Unsecured Creditors as counsel.

The Debtor disclosed assets of $46.6 million and liabilities of
$109.9 million, including $93.4 million in secured claims.  The
principal lender is Technology Investors Inc., owed $89 million.
TII is owned by the estate of Hank Asher, the company's primary
owner who died this year.  There is $4.6 million secured by
computer equipment.


TRIPLANET PARTNERS: Robinson Brog Approved as General Counsel
-------------------------------------------------------------
The Bankruptcy Court authorized Triplanet Partners LLC to employ
Robinson Brog Leinwand Greene Genovese & Gluck P.C. as general
counsel.

Robinson Brog will represent the Debtor in the Chapter 11 case,
and assist it in carrying out its duties as debtor-in-possession.

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

A. Mitchell Green, shareholder of Robinson Brog, in a supplemental
declaration in support of the application to employ counsel,
stated that with regard to Robinson Brog's prior representation of
Jared Stamel, the firm has not represented Mr. Stamel since his
bankruptcy case was dismissed in 2001.

On June 10, creditor Benjamin Roberts objected to the employment
of Robinson Brog stating that the connection between Robinson Brog
and Mr. Stamell creates an additional basis to conclude that
Robinson Brog, which represented Attorney Stamell for six years in
his own bankruptcy, will not be influenced by Attorney Stamell and
his clients, the Bennaceur brothers.

Mr. Roberts is by a substantial margin, the largest non-insider
creditor of the Debtor based on claims in an action pending
against the Debtor and non-debtor co-defendants, Sophien, Imed and
Moez Bennaceur.

The Debtor is represented by:

         A. Mitchell Greene, Esq.
         ROBINSON BROG LEINWAND GREEN GENOVESE & GLUCK P.C.
         875 Third Avenue
         New York, NY 10022
         Tel: (212) 603 6300

Mr. Roberts is represented by:

         Brendan J. O'Rouke, Esq.
         Lorey Rives Leddy, Esq.
         O'ROURKE & ASSOCIATES, LLC
         27 Pine Street
         New Canaan, CT 06840
         Tel: (203) 966-6664
         Fax: (203) 966-5710
         E-mails: 1rendan@orourkeandassoc.com
                  lorey@orourkeandassoc.com

                   About Triplanet Partners LLC

Triplanet Partners LLC filed a Chapter 11 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 14-22643) on May 8, 2014.  Sophien
Bennaceur signed the petition as manager.  The Debtor disclosed
$19,946,560 in assets and $33,663,525 in liabilities.  Arnold
Mitchell Greene, Esq., at Robinson Brog Leinwand Greene Genovese &
Gluck, P.C., serves as the Debtor's counsel.  Judge Robert D.
Drain oversees the case.

TRIPLANET PARTNERS: Joshua Rizack Approved as CRO
-------------------------------------------------
The Hon. Robert D. Drain approved the appointment of Joshua
Rizack, senior managing director of the Rising Group Consulting,
Inc., as chief restructuring officer for Triplanet Partners, LLC.

Mr. Rizack -- jrizack@therisinggroup.com -- will oversee and
manage the Debtor and its estate while assisting in the analysis
of the Debtor's finances and advising in regard to the business
plan.

Mr. Rizack will be paid fixed monthly compensation of $6,000 for
up to 15 hours of work per month and thereafter for any additional
work at the rate of $450 per hour.

The Debtor, in response to the objection of creditor Benjamin
Roberts to application to appoint Mr. Rizack as CRO, stated that
the revised CRO order resolves the issues raised by the objection
and that any other components of the objection must be overruled
and the appointment of the CRO must be approved.

Mr. Roberts, in his objection, stated that apart form the lack of
any need for a CRO, the terms of Mr. Rizacks retention do not
comport with the Jay Alix Protocol and are otherwise unreasonable.

                   About Triplanet Partners LLC

Triplanet Partners LLC filed a Chapter 11 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 14-22643) on May 8, 2014.  Sophien
Bennaceur signed the petition as manager.  The Debtor disclosed
$19,946,560 in assets and $33,663,525 in liabilities.  Arnold
Mitchell Greene, Esq., at Robinson Brog Leinwand Greene Genovese &
Gluck, P.C., serves as the Debtor's counsel.  Judge Robert D.
Drain oversees the case.


U.S. COAL: Consents to Being in Chapter 11
------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that U.S. Coal Corp., a coal producer in the Central
Appalachian region of eastern Kentucky, consented to being in
Chapter 11 effective June 27.

As previously reported by The Troubled Company Reporter, Kolmar
Americas, Inc., filed an involuntary Chapter 11 bankruptcy
petition for U.S. Coal Corporation.  Bridgeport, Connecticut-based
Kolmar says it is owed by Lexington-based U.S. Coal roughly $1.36
million on account of a business debt.

U.S. Coal stated in court papers that upon receipt of the
involuntary petition, it, in consultation with its legal and
financial advisors, determined that it had no adequate grounds to
dispute the allegations of the petitioning creditor and concluded
that the consensual resolution of the involuntary petition was
necessary to avoid the unnecessary expense and delay of
litigation, and to enable U.S. Coal to concentrate its attention
going forward on maximizing the value of its assets for the
benefit of creditors and parties-in-interest by consenting to the
relief sought by the petitioning creditor.

To ensure its continued operations and to effectuate a
restructuring of its balance sheet, U.S. Coal seeks authority from
the U.S. Bankruptcy Court for the Eastern District of Kentucky to
use cash collateral securing its prepetition indebtedness, which,
as of May 1, 2014, total approximately $75 million.

U.S. Coal also filed a motion asking the Bankruptcy Court to issue
an order authorizing to join administration of the Chapter 11
cases of its subsidiaries -- Licking River Mining, LLC, Licking
River Resources, Inc., S.M. & J., Inc., Fox Knob Coal Co., Inc.,
and J.A.D. Coal Company, Inc., -- under the lead case of Licking
River Mining, LLC, Case No. 14-10201, to reduce the amount of
duplicative pleadings and notice that will be filed and served.

U.S. Coal's largest unsecured creditors are the following:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Alpha Lit                          Professional Fees      $21,035
8201 Greensboro Drive
Suite 717
Mc Lean, VA 22102-3810

CAMHZN                             Litigation            $675,000
c/o Centrecourt Asset
Management
11 East 44th Street
Suite 1600
New York, NY 10017

CAMOFI                             Litigation          $1,620,000
c/o Richard Smithline
11 East 44th Street
Suite 1600
New York, NY 10017

Continental Stock Transfer         Stock Transfer          $1,832
and Trust                          Agent
17 Battery Place
New York, NY 10004

Coulter & Justus, PC               Professional Fees      $75,429
9717 Cogdill Road
Suite 201
Knoxville, TN 37932

CT Corporation System              Trade                     $709
JAF Station
P.O. Box 4349
Carol Stream, IL 60197-4349

Ernst & Young                      Professional Fees      $40,000
P.O. Box 640382
Pittsburgh, PA 15264

Futuretec                          Litigation            $135,000
111 Great Neck Road
Suite 301
Great Neck, NY 11021

Kentucky Coal Association          Membership             $18,566
2800 Palumbo Drive
#200
Lexington, KY 40509

Kolmar Americas Inc.               Trade                  Unknown
10 Middle Streeet
#1701
Bridgeport, CT 06604-4259

Lawrence Kaplan                    Litigation            $135,000
2000 South Ocean Blvd.
Boca Raton, FL 33432

LRR Unsecured Note                 Unsecured Note      $6,093,246
c/o Licking River Resources,
Inc.
P.O. Box 637
West Liberty, KY 41472

The Nelson Law Firm, LLC           Professional Fees     $449,564
White Plains Plaza
1 North Broadway
White Plains, NY 10601

Wilmington Trust Company           Escrow Agent            $7,000
P.O. Box 8955
Wilmington, DE 19899-8955

U.S. Coal is represented by:

         Laura Day DelCotto, Esq.
         Amelia Martin Adams, Esq.
         DELCOTTO LAW GROUP PLLC
         200 North Upper Street
         Lexington, KY 40507
         Tel: (859) 231-5800
         Fax: (859) 281-1179
         Email: ldelcotto@dlgfirm.com
                aadams@dlgfirm.com

            -- and --

         Dennis J. Drebsky, Esq.
         Christopher M. Desiderio, Esq.
         NIXON PEABODY LLP
         437 Madison Avenue
         New York, NY 10022-7039
         Tel: (212) 940-3000
         Fax: (212) 940-3111
         Email: ddrebsky@nixonpeabody.com
                cdesiderio@nixonpeabody.co

Kolmar is represented by Daniel I. Waxman, Esq., at Wyatt, Tarrant
& Combs, LLP, in Lexington, Kentucky.  Chief Judge Tracey N. Wise
presides over the case.


USS PARENT: Moody's Assigns 'B2' CFR & 'B1' Senior Secured Rating
-----------------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating
("CFR") to USS Parent Holding Corp. (indirect parent of United
Site Services, Inc., "USS"), as well as a B2-PD Probability of
Default Rating ("PDR") and a B1 rating to the proposed senior
secured revolver due 2019 and senior secured term loans due 2021.
The ratings outlook is stable.

USS will be acquired by Calera Capital. The proposed term loan,
along with equity from Calera and the proceeds of subordinated
notes (not rated) will be used to purchase the company and pay
related fees and expenses.

Issuer: USS Parent Holding Corp.

Assignments:

Corporate Family Rating, Assigned B2

Probability of Default Rating, Assigned B2-PD

Senior Secured Revolving Credit Facility due 2019, Assigned B1,
LGD3

Senior Secured Term Loan due 2021, Assigned B1, LGD3

Senior Secured Delayed Draw Term Loan due 2021, Assigned B1, LGD3

Rating Outlook is Stable

Ratings Rationale

The B2 CFR reflects Moody's expectation that USS's debt to EBITDA
will remain about 5.5 times (after Moody's standard adjustments)
as USS continues to use free cash flow, and perhaps incremental
debt, to make acquisitions. USS has a small operating scale with
revenues expected to be less than $250 million, about half of
which comes from the cyclical construction sector. Economic
sensitivity in the company's end markets create potential revenue
and cash flow volatility for USS that contributed to a debt
restructuring during the last downturn. The ratings more favorably
reflect USS's improved operating efficiency, geographic scope and
product offerings (such as fencing) and its position as a leading
provider of portable sanitation units, a highly fragmented market
with a diverse, national customer base. Additional support comes
from Moody's expectations for operating profit margins in the low
20 percents, EBITDA less capital expenditures to interest expense
above 1.5 times and about $15 million of free cash flow. Moody's
considers USS's liquidity to be adequate.

The stable rating outlook reflects Moody's expectations for
organic revenue growth of 6% to 8% and slowly improving operating
profitability rates. The stable outlook anticipates USS will be
acquisitive and will not reduce debt beyond required amortization
payments.

Moody's could upgrade the ratings if USS grows revenue and
profitability faster than expected, and maintains a good liquidity
position. In addition to these factors, Moody's would expect USS
to maintain debt to EBITDA below 4.5 times and free cash flow to
total debt over 8%. Moody's could downgrade the ratings if slower
revenue growth or profitability declines lead Moody's to
anticipate low or no free cash flow, or if USS's liquidity
weakens. If debt to EBITDA is sustained above 6.0 times or EBITDA
less capital expenditures to interest expense is less than 1.25
times, the ratings could be lowered.

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 US,
Canada, and EMEA, published in June 2009.

USS is a provider of portable sanitation units, temporary fencing,
storage containers and temporary electric equipment serving the
construction and other industries, as well as governmental
agencies. The company estimates revenue in its fiscal year ended
December 2013 was approximately $225 million pro forma for recent
acquisitions.


VAIL LAKE: Plan Exclusivity Period Extended to Aug. 1
-----------------------------------------------------
The U.S. Bankruptcy Court approved the motion of Vail Lake Rancho
California, LLC et al. to extend, through and including August 1,
2014, the Exclusive Period within which the Debtors have the
exclusive right to file plans; and through and including October
1, 2014, the Exclusive Period within which the Debtors have the
exclusive right to solicit acceptances of such plans.  The Court's
order is without prejudice to the Debtors' right to seek further
extension of the exclusivity periods in accordance with the
requirements of Bankruptcy Code section 1121.

The hearing was held on June 19, 2014.

The Debtors have previously sought two extensions of their
Exclusivity Periods, which extensions were necessary to stabilize
the Debtors' cases, conduct the diligence necessary to formulate a
plan for the Debtors to operate during the bankruptcy cases and
negotiate with the most important constituencies in the bankruptcy
cases, and to commence executing on that plan.

One of the main pillars of the Debtors' plan is reaching a global
settlement with the Debtors' largest secured creditors.
Settlement discussions with the secured creditors have been
ongoing over the past several months, and parties have now come to
an agreement in principle on a comprehensive settlement that the
Debtors are hopeful will result in substantial distributions to
all creditors.  Due to the complicated issues among the Debtors
and the various secured creditors, however, it is taking a
significant amount of time to document the settlement in full.
The Debtors therefore require more time to finalize the
settlement, which itself is a predicate to the Debtors being able
to propose a chapter 11 plan (or plans).

During this same time period the Debtors have been negotiating
with their secured creditors, the Debtors have also been devoting
substantial attention to making much needed repairs and
improvements to their facilities.  These repairs and improvements
have included renovations of 1) the public and campsite restrooms,
2) the campsite community room, and 3) some of the stables. The
Debtors expect these renovations will improve guest experiences,
which in turn will improve revenue.

The progress made thus far in the cases, according to the Debtors,
has required a significant amount of energy and efforts on the
part of the Debtors and their counsel. Going forward, the process
will require the Debtors to continue to dedicate the same level of
efforts and attention if not more.  The extension requested in
this Motion will allow the Debtors to do just that, while
preserving their Exclusivity Periods and avoiding the distraction
relating to a chapter 11 plan filing by a party other than the
Debtors.  Under these circumstances, a further short extension of
the Exclusivity Periods is more than appropriate.

                          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.


VIVARO CORP: Aug. 25 Transition Period Claims Bar Date Proposed
---------------------------------------------------------------
Vivaro Corporation and its debtor-affiliates ask the U.S.
Bankruptcy Court for the Southern District of New York to set Aug.
25, 2014, at 5:00 p.m., as the business transition period claims
bar date for all administrative expense claims incurred from
Feb. 8, 2014, to June 27, 2014.

The Debtors tell the Court that the deadline would apply to all
entities holding unpaid business transition period claims that
arose during the business transition period.  By establishing the
deadline, they will be able to determine the finality the universe
of claims asserted their estates, according to the Debtors.

                        About Vivaro Corp.

Vivaro Corp., which specializes in the sale of international
calling cards in the U.S., filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 12-13810) on Sept. 5, 2012, together with six
other related companies, including Kare Distribution Inc.  The
Debtor is represented by Frederick E. Schmidt, Esq., at Hanh V.
Huynh, Esq., at Herrick, Feinstein LLP.  Garden City Group Inc. is
the claims and notice agent.

A five-member official committee of unsecured creditors has been
appointed in the case.


VIVARO CORP: To Execute Partial Lien Release Against Purchaser
--------------------------------------------------------------
Bankruptcy Judge Martin Glenn authorized Vivaro Corporation, et
al., to execute a partial lien release against Angel Americas,
LLC, the purchaser of the Debtor's assets, except for a lien on
$300,000 in cash to be held in the Debtor's bank account.

The purchaser granted the Debtors a security interest in
substantially all of its assets as security for the purchaser's
obligations to the Debtors under a promissory note, a transition
services agreement (the TSA), and related documents entered into
in connection with the asset sale.

The note is now fully paid, and the purchaser has entered into an
agreement with the Federal Communications Commission, which will
likely result in the purchaser obtaining its own permanent 214
license to operate the Debtor's business.

According to the order, the Debtors' partial release of liens is
contingent upon (i) the Debtors' receipt of $300,000 from the
purchaser which sum represents the full amount of the cash
collateral; (ii) purchaser's payment of all rent and rent-related
arrears accrued during the interim period (comprised of $72,276
plus any additional obligations) to JT MH 1250 Owner LP; and (iii)
purchaser's filing of all outstanding state sales tax returns.

The Court also ordered that, as set forth in the settlement
agreement, the FCC releases and forever discharges the Debtors and
their chapter 11 bankruptcy estates of and from any and all claims
the FCC might otherwise assert regarding the payment of the
current fees during the interim period, including but not limited
to for payment of the outstanding balance.  For the avoidance of
doubt, the FCC will not file against the Debtor released parties
any application, motion or any other document seeking payment of
or allowance of any administrative expense claim which arose or
may arise during the interim period including but not limited to
the outstanding balance.

The Debtors are represented by:

         John R. Goldman, Esq.
         Frederick E. Schmidt, Jr., Esq.
         Justin B. Singer, Esq.
         HERRICK, FEINSTEIN LLP
         2 Park Avenue
         New York, NY 10016
         Tel: (212) 592-1400
         Fax: (212) 592-1500
         E-mails: igoldman@herrick.com
                  eschmidt@herrick.com
                  isinger@herrick.com

                         About Vivaro Corp.

Vivaro Corp., which specializes in the sale of international
calling cards in the U.S., filed a Chapter 11 petition (Bankr.
S.D.N.Y. Case No. 12-13810) on Sept. 5, 2012, together with six
other related companies, including Kare Distribution Inc., STi
Prepaid, LLC, STI Telecom, Inc., TNW Corporation, STi1, LLC and
STi2, LLC.

Bankruptcy Judge Martin Glenn oversees the case.  The Debtors are
represented by John R. Goldman, Esq., Frederick E. Schmidt, Jr.,
Esq., and Justin B. Singer, Esq., at Herrick, Feinstein LLP.
Garden City Group Inc. is the claims and notice agent.  SSG
Capital Advisors, LLC, serves as investment banker.  UHY Advisors
NY, Inc. and UHY LLP provide accounting and tax services.

Vivaro tapped Marotta Gund Budd & Dzera, LLC, to provide crisis
management services.  The firm's Philip J. Gund serves as chief
restructuring officer; B. Lee Fletcher serves as acting chief
financial officer; and Lyle Potash serves as assistant
restructuring officer.  The Law Offices of Gabriel Del Virginia
serves as special counsel to investigate and prosecute the
avoidance actions.  Womble Carlyle Sandridge & Rice, LLP, serves
as special counsel for matters related compliance with the Federal
Communications Commission rules and regulations in connection with
the sale of the Debtors' assets.

The U.S. Trustee for Region 2 appointed five members to the
official committee of unsecured creditors.  Arent Fox LLP, led by
George P. Angelich, Esq., serves as counsel; and BDO Consulting is
the financial advisor to the committee.

In its schedules, Vivaro disclosed $47,530,929 in total assets and
$51,643,053 in total liabilities.

Angel Telecom Corporation disclosed that on Feb. 8, 2013, Next
Angel LLC, a joint venture between Angel Telecom (Angel), Next
Communications, Inc. and Marcatel Telecommunications, LLC,
acquired substantially all of the assets of Vivaro and certain of
its affiliates out of Vivaro's bankruptcy.  Angel owns a 42.5%
stake in Next Angel.  Dow Jones' DBR Small Cap said the assets
were sold for $4.5 million in cash plus $25 million in assumed
liabilities.


WHEATLAND MARKETPLACE: U.S. Bank Balks at Cash Access Beyond July
-----------------------------------------------------------------
U.S. Bank National Association, as Trustee, successor to Bank of
America, National Association, objected to Wheatland Marketplace
LLC's motion for interim approval to use of cash collateral.

In addition, U.S. Bank requests that any additional interim cash
collateral order entered by the U.S. Bankruptcy Court for the
Northern District of Illinois extend the Debtor's authorization to
use cash collateral only through July 31, 2014, on the terms
previously approved in the prior cash collateral orders, and
further provide that such authorization is expressly conditioned
upon the Debtor either:

   a) closing on the sale of the Property to ArciTerra Properties,
      LLC previously approved by the Court by July 24, 2014, or

   b) initiating an open-sale process, in consultation with its
      broker, by July 31, 2014, pursuant to which the Noteholder
      will have the right to credit-bid its claim in any
      competitive auction setting, and granting such further
      relief as may be just and necessary under the circumstances.

As of the Petition Date, the Debtor was unconditionally indebted
to the Noteholder in the amount of at least $7,013,354 plus any
and all other fees, obligations, and other liabilities owing under
a certain loan documents.  The obligations are secured by, among
other things, all of the Debtor's interests in the property,
according to court documents.

On April 22, 2014, the Court approved the Debtor's sale of a
property to ArciTerra pursuant to the terms and conditions of the
purchase agreement, which sale included a diligence period of 30
days, and an anticipated closing date by the end of June.  Since
that time, the Debtor has granted five separate extensions of
ArciTerra's diligence period, pushing the anticipated closing to
the end of July at the earliest.

In addition, the Debtor has informed the Noteholder that the
Debtor similarly may purport to elect to grant further extensions,
as ArciTerra and the Debtor explore the possibility of expanding
the sale to an adjacent property that is not part of Debtor's
estate, and that, even with such further extensions, the Debtor
does not know whether any sale to ArciTerra will actually close.

According to the Noteholder, despite being nearly 7 months into a
case in which its over $7.2 million, fully-secured claim is the
only significant claim against the Debtor's estate, it has not
filed a bevy of motions seeking to have the stay lifted or the
case dismissed.  Instead, it has attempted to work collaboratively
with the Debtor on a consensual sale process that would see its
claim paid in full and funds left over for the Debtor and any
other creditors.  This has included its consent to the continued
use of its cash collateral, the Debtor's engaging of a broker who
was to run a sale process of the property, and a proposed and
approved private sale of the Property to ArciTerra.

Thomas S. Kiriakos, Esq., at Mayer Brown LLP, noted the time has
now come, however, for this case to be resolved -- either the sale
to ArciTerra should be finalized, and this case closed, or the
Debtor should be compelled to move forward with an open-sale
process that will lead to payment of the Noteholder's claim in
full.  To that end, the Noteholder respectfully requests that any
further extensions of the Debtor's authorization to use Cash
Collateral be limited to one month and be expressly conditioned on
either a closing of the sale of the Property to ArciTerra by July
24, 2014 or the Debtor's broker having initiated an open-sale
process by July 31, 2014, Mr. Kiriakos said.

U.S. Bank National Association is represented by:

         Thomas S. Kiriakos, Esq.
         Aaron Gavant, Esq.
         MAYER BROWN LLP
         71 South Wacker Drive
         Chicago, IL 60606
         Tel: (312) 701-7275
         Fax: (312) 706-8232
         E-mail: tkiriakos@mayerbrown.com
                 agavant@mayerbrown.com

                 About Wheatland Marketplace, LLC

Wheatland Marketplace, LLC, owner of a commercial retail center in
Naperville, Illinois, filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Ill. Case No. 13-46492) in Chicago on Dec. 3, 2013.
The Debtor has tapped Thomas W. Toolis, Esq., at Jahnke, Sullivan
& Toolis, LLC, in Frankfurt, Illinois, as counsel.  Coleen J.
Lehman Trust and Lucy Koroluk each holds a 50% membership interest
in the Debtor.  The Debtor reported $10,999,006 in total assets,
and $7,052,778 in total liabilities.

No committee of unsecured creditors has been appointed to serve in
the case.


WHITING PETROLEUM: Moody's Puts 'Ba2' CFR On Review for Upgrade
---------------------------------------------------------------
Moody's Investors Service placed under review for upgrade Whiting
Petroleum Corporation's Ba2 Corporate Family Rating (CFR), and
placed on review, direction uncertain, Whiting's Ba2 rated senior
unsecured notes and Ba3 rated senior subordinated notes. At the
same time, Moody's placed under review for upgrade Kodiak Oil &
Gas Corp.'s B2 CFR and B3 rated senior unsecured notes.

These rating actions were prompted by Whiting's announcement that
it will acquire Kodiak in an all-stock transaction valued at $6
billion, inclusive of Kodiak's net debt of $2.2 billion. Whiting's
senior management team will run the combined company, and two of
Kodiak's directors, its current Chairman and Chief Executive
Officer and its Executive Vice President of Business Development,
will join Whiting's board of directors. Each company's board of
directors has approved the transaction. Closing is expected in the
fourth quarter of 2014, subject to both company's shareholders
approvals and regulatory approvals.

"With the acquisition of Kodiak, Whiting will gain basin
intensification in its already established position in the
Williston Basin, with a larger production base and deeper drilling
inventory, which should enable enhanced drilling and operating
efficiencies," commented Gretchen French, Moody's Vice President.
"However, even with the benefit of the all stock transaction,
Whiting will need to demonstrate strong growth in production and
cash flow in order to maintain credit ratios indicative of a
higher rating given Kodiak's heavy debt levels."

Issuer: Whiting Petroleum Corporation

Review for possible upgrade:

Corporate Family Rating, rated Ba2

Probability of Default Rating, rated Ba2-PD

Review direction uncertain:

Senior Unsecured Bonds, rated Ba2

Senior Subordinated Bond, rated Ba3

Affirmations:

Speculative Grade Liquidity Rating of SGL-2

Issuer: Kodiak Oil & Gas Corp.

Review for possible upgrade:

Corporate Family Rating, rated B2

Probability of Default Rating, rated B2-PD

Senior Unsecured Bonds, rated B3

Affirmations:

Speculative Grade Liquidity Rating of SGL-3

Ratings Rationale

The review of Whiting's CFR reflects the increased size and growth
opportunities achieved through the Kodiak transaction. The review
will focus on Whiting's ability to achieve higher growth rates in
tandem with drilling and operational synergies on the acquired
Kodiak acreage, and in turn, its ability to achieve improved
financial metrics in terms of debt/production and retained cash
flow/debt.

The Kodiak review reflects Kodiak's improved credit profile as
part of Whiting, a larger company with greater financial
flexibility. Whiting is not required to guarantee the Kodiak
notes, and the company believes that it can close the acquisition
and operate its business without guaranteeing the notes. Kodiak's
unsecured note ratings could benefit from a one to two notch
upgrade from their existing B3 ratings based on Moody's analysis
of the strategic importance of Kodiak to Whiting and the notes
structural position in the combined company's pro forma capital
structure. The Kodiak review will also consider the level of
financial and operational disclosure available with respect to
Kodiak following the close of the acquisition.

The rating review, direction uncertain, of Whiting's senior
unsecured notes and subordinated notes reflects uncertainty to
Whiting's CFR and ultimate capital structure when the Kodiak
acquisition closes. Should the review of Whiting's CFR result in a
one-notch upgrade to Ba1, Whiting's senior unsecured notes would
likely still be rated Ba2 because of the contemplated increase in
the size of its priority-claim secured revolver relative to the
unsecured notes. In addition, Whiting's subordinated notes rating
would likely remain unchanged at Ba3 under such a scenario.
However, if Whiting's CFR is confirmed at Ba2, the unsecured notes
and subordinated notes would each likely be downgraded one-notch
to Ba3 and B1, respectively.

Upon the closing of the acquisition, Whiting's CFR could be
upgraded to the extent there is a clear trajectory to
debt/production being restored below $33,000/boe. Given the review
for upgrade, a ratings downgrade would be considered unlikely,
however, a downgrade could be considered if Whiting experienced
weaker than expected production levels on its Williston basin
drilling program or materially increased leverage (debt/production
maintained in excess of $40,000/boe).

The acquisition of Kodiak will strengthen Whiting's position in
the high margin Williston Basin, which on a pro forma basis will
account for 82% of its production profile. Whiting's pro forma
production will increase to about 134,000 barrels of oil
equivalent (boe) per day from roughly 100,000 boe/day in the first
quarter of 2014. In addition, Kodiak's complementary acreage
position will expand Whiting's drilling inventory in the Williston
Basin to 3,460 locations from 1,339. Whiting expects to accelerate
drilling on Kodiak's acreage position and believes as a larger,
combined entity with meaningful midstream assets, it can lower the
production costs and drilling costs on the Kodiak acreage.

Despite being an all-stock transaction, Whiting's leverage metrics
will increase as a result of the transaction. Kodiak has elevated
financial leverage that had constrained its CFR at B2. On a pro
forma combined basis, debt/production will increase to $37,000/boe
of average daily production from $27,000/boe, retained cash
flow/debt will decline to 48% from 66%, and debt/proved developed
reserves will increase to $15/boe from $11/boe, as of financial
data ending March 31, 2014. In addition, the company's reserve
base will become more weighted to proven undeveloped (PUD)
reserves (increasing to 46% PUDs from 42%), which will require
significant capital in order to develop. Nevertheless, even
assuming the outspend of cash flow is debt financed, Moody's
expect Whiting to continue to grow both its stand alone and
Kodiak's production and cash flow, which should result these
leverage metrics improving in 2015.

Whiting will assume Kodiak's existing $1.6 billion unsecured
notes, but is not required to guarantee the notes. To the extent
Kodiak's notes are put to Whiting under the notes' change-of-
control provisions, Whiting will bridge those purchases, as well
as the repayment of Kodiak's $700 million in revolver drawings,
under a new committed senior secured credit facility. Whiting's
new credit facility consists of a $2.5 billion five-year revolver
and a $1 billion delayed draw facility maturing on December 31,
2015. The initial borrowing base of the credit facility is $4.5
billion. Whiting would then look to term out any drawings under
the delayed draw facility with new senior unsecured debt issued by
Whiting.

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.

Whiting Petroleum Corporation is an independent exploration and
production company headquartered in Denver, Colorado. Kodiak Oil &
Gas Corp. is an independent exploration and production company
headquartered in Denver, Colorado.


WINDSOR PETROLEUM: Files Ch. 11 to Implement Debt-To-Equity Swap
----------------------------------------------------------------
Windsor Petroleum Transport Corporation and several of its
subsidiaries and related entities on July 14, 2014, filed for
reorganization under Chapter 11 of the U.S. Bankruptcy Code in the
United States Bankruptcy Court in Wilmington, Delaware (Lead Case
No. 14-11708).

Windsor Petroleum said in a statement that it has entered into a
restructuring support agreement with bondholders who hold more
than 70% of the Company's 7.84% secured notes in a principal
amount of $188,590,000 as of this date.

The supporting holders of the Notes have agreed to support a plan
of reorganization that would convert claims on account of the
Notes for 100% of the equity in the reorganized company.

Frontline Ltd ("FRO") will enter into a revised management
agreement with the reorganized company and will continue to
provide commercial management for its vessels.

The Company believes that the reorganized balance sheet will
provide for a strong operating platform and provide the best
possible position for the reorganized company going forward.

The Company said that all operating entities are expected to
continue normal operations during the restructuring.  The Company
projects that a consensual cash collateral order will provide
sufficient cash to fund its operations during its financial
restructuring.

The Company said it also expects to file a variety of customary
motions to continue to support its customers and vendors during
the financial restructuring process.  The Company expects to file
motions seeking permission to continue to pay trade creditors and
foreign vendor balances incurred before and after the filing in
full and in the normal course.  The Company expects to receive
court approval for these requests.

During the restructuring process, the Company anticipates
operating as usual, meeting all its ongoing trade obligations, and
expects to implement the restructuring and emerge from the court-
supervised process expeditiously.

The Company has tapped Young Conaway Stargatt & Taylor, LLP as
principal bankruptcy attorneys, and AMA Capital as crisis
management services provider.

Hamilton, Bermuda-based Windsor Petroleum estimated at least $100
million in liabilities and less than $50,000 in assets in its
bare-bones Chapter 11 petition.


XUMANII INTERNATIONAL: Has $1.06-Mil. Net Loss in April 30 Quarter
------------------------------------------------------------------
Xumanii International Holdings Corp. filed its quarterly report on
Form 10-Q disclosing a net loss of $1.06 million on $nil of
revenues for the three months ended April 30, 2014, compared with
a net loss of $307,205 on $nil of revenues for the same period in
2013.

The Company's balance sheet at April 30, 2014, showed $1.11
million in total assets, $2.61 million in total liabilities, and a
stockholders' deficit of $1.5 million.

As of April 30, 2014, the Company has an accumulated deficit of
$3.6 million, limited liquidity and has not completed its efforts
to establish a stabilized source of revenues sufficient to cover
operating costs for the next twelve month period.  These factors
raise substantial doubt 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 at:

                       http://is.gd/3z8S3q

Xumanii International Holdings Corp. is a development stage
company, which develops RFID, other tracking technologies and
other technologies through its new acquired company Trakkers LLC.
Its devices are used at trade shows as lead retrieval devices. The
company was formerly known as Xumanii, Inc. and changed its name
to Xumanii International Holdings Corp. in July 2013. Xumanii
International Holdings was founded on May 6, 2010 and is
headquartered in Las Vegas, NV.


YARWAY CORP: Seeks Extension of Time to Remove Lawsuits
-------------------------------------------------------
Yarway Corp. has filed a motion seeking a four-month extension to
file notices of removal of lawsuits involving the company.

In its motion, Yarway asked the U.S. Bankruptcy Court in Delaware
to extend the deadline to December 15 from August 16, saying it
would give the company enough time to determine whether to remove
a lawsuit or not.

Yarway is a defendant in over 5,000 personal injury cases filed by
victims who claimed they have been exposed to asbestos contained
in products manufactured by the company.

Most of the cases are pending in U.S. state courts and are in
various stages of the litigation process, according to the court
filing.

The bankruptcy court will hold a hearing on July 30 to consider
the motion.  Objections are due by July 23.

                    About Yarway Corporation

Yarway Corporation sought Chapter 11 protection (Bankr. D. Del.
Case No. 13-11025) on April 22, 2013, to deal with claims arising
from asbestos containing products it allegedly sold as early as
the 1920s.

Yarway was founded in 1908 by Robert Yarnall and Bernard Waring as
the Simplex Engineering Company and originally manufactured pipe
clamps, steam traps, valves and controls.  Based in Pennsylvania,
Yarway was a privately-owned company until 1986 when KeyStone
International, Inc. bought equity in the company.  Yarway became a
unit of Tyco International Ltd. when Tyco purchased KeyStone in
1997.

Yarway's asbestos-related liabilities derive from Yarway's (i)
purported use of asbestos-containing gaskets and packing,
manufactured by others, in its production of steam valves and
traps from the 1920s to 1970s, and (ii) alleged manufacture of
expansion joint packing that was allegedly made up of a compound
of Teflon and asbestos from the 1940s to the 1970s.

Over the past five years, about 10,021 new asbestos claims have
been asserted against Yarway, including 1,014 in Yarway's 2013
fiscal year ending March 31, 2013.

The Debtor estimated assets and debts in excess of $100 million as
of the Chapter 11 filing.

Attorneys at Cole, Schotz, Meisel, Forman & Leonard, P.A. and
Sidley Austin LLP serve as the Debtor's counsel in the Chapter 11
case.  Logan and Co. is the claims and notice agent.

On May 6, 2013, the U.S. Trustee for Region 3, appointed an
official committee of asbestos personal injury claimants.  The
Committee tapped Elihu Inselbuch, Esq. at Caplin & Drysdale,
Chartered, as lead bankruptcy counsel.


YELLOWSTONE MOUNTAIN: Blixseth Hit With $220MM Judgment by Trustee
------------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Timothy Blixseth, the former owner of the bankrupt
Yellowstone Mountain Club LLC, can appeal now because a U.S.
district judge in Los Angeles entered a $219.9 million judgment
against him.

According to the report, the judgment, which was Blixseth's fifth
and largest defeat this year, resulted from a June 18 decision by
U.S. District Judge Gary Allen Feess, partly based on a ruling in
April when a Montana district judge upheld a $41 million judgment
against Blixseth, saying the record "amply demonstrated"
Blixseth's "fraudulent manipulations of corporations he controlled
to his personal benefit."

The suit is Kirschner v. Blixseth, 11-cv-08283, U.S. District
Court, Central District of California (Los Angeles).

                      About Yellowstone Mountain

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --
http://www.theyellowstoneclub.com/-- is a private golf and ski
community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Club and its affiliates filed for Chapter 11
bankruptcy (Bankr. D. Montana, Case No. 08-61570) on Nov. 10,
2008.  The Company's owner affiliate, Edra D. Blixseth, filed
a separate Chapter 11 petition on March 27, 2009 (Case No.
09-60452).

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC represented Yellowstone.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer; and James H. Cossitt, Esq., as counsel.  Credit Suisse,
the prepetition first lien lender, was represented by Skadden,
Arps, Slate, Meagher & Flom.

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners LLC acquired equity ownership in the reorganized
Club for $115 million.

Marc S. Kirschner, Esq., was appointed the Trustee of the
Yellowstone Club Liquidating Trust created under the Plan.


YUCCA GROUP: Submits Post-Confirmation Status Report
----------------------------------------------------
The Yucca Group, LLC, submitted to the Bankruptcy Court its First
Post-Confirmation Status Report dated May 2, 2014.

Yucca Group on Jan. 16, 2014, won confirmation of its First
Amended Plan of Reorganization dated Oct. 13, 2013.  The Plan
became effective on Feb. 17, 2014.

A copy of the Disclosure Statement is available for free at:

     http://bankrupt.com/misc/YUCCAGROUP_401_ds.pdf

According to the Debtor, since the Effective Date, it has
continued to work to fully consummate the Plan in accordance with
the confirmation order.  The Debtor related that its complaint
against PEI Asset Pool III, LLC, is set be heard on July 24, 2014.

The Reorganized Debtor also said that it will continue to work to
resolve outstanding matters to ensure the timely closing of the
case.  Post-confirmation status conference must be continued to
late August 2014.

On Dec. 5, 2013, the Court denied the Debtor's motion to strike
PEI Asset Pool III LLC's objection to the approval of the
Disclosure Statement and Plan.

On Nov. 15, 2013, the Debtor requested to strike PEI's objection
because of PEI's lack of standing and is not a party-in-interest.

PEI, in its objection, stated that the Disclosure Statement does
not provide adequate information regarding Yucca Group's cause of
action/claim for relief against PEI.

PEI Asset is represented by:

         J. Scott Bovitz, Esq.
         BOVITZ & SPITZER
         1100 Wilshire Blvd., Suite 2403
         Los Angeles, CA 90017-1961
         Tel: (213) 346-8300
         Fax: (213) 928-4174
         E-mail: bovitz@bovitz-spitzer.com

                    Distribution Outside Plan

The Bankruptcy Court, in an order dated Jan. 23, instructed the
Debtor that payments under the Plan must be completed before an
order discharging the cases is entered.

Peter C. Anderson, U.S. Trustee, also objected to the relief
requested in the Debtor's motion for order authorizing the Debtor
to make interim distributions to creditors outside of a plan
pending dismissal of the case.

On Sept. 27, 2013, the Debtor asked the Court for authorization to
make interim distributions to creditors outside the pending
dismissal of the case.  The Debtor requested that the Court
authorize it to  take the cash on hand in its Chapter 11 case and
to pay out all allowed general unsecured claim on a pro rate basis
without incurring the cost, or experiencing delay.

        Friedman Approved to Handle Claim Against PEI Asset

In October 2013, Bankruptcy Judge Geraldine Mund signed off a
stipulation modifying the employment of Friedman Law Group, P.C.,
as counsel for The Yucca Group, LLC.  The stipulation entered
between the Debtor and the firm provides that:

   1. the employment order of Friedman entered on April 6,
      2010, will be modified to authorize the firm to pursue
      the Debtor's claim against PEI Asset Pool III, LLC;

   2. the firm will be allowed to recover one-half of the
      net recovery on the PEI Claim, if any, in consideration
      for uncompensated services, and for services rendered
      in pursuing the PEI Claim; and

   3. the estate is authorized and directed to pay the firm
      the non-refundable sum of $10,000, and to reimburse costs
      actually incurred by the firm in pursuing the PEI Claim
      up to an aggregate amount of $25,000.

The firm can be reached at:

         J. Bennett Friedman, Esq.
         Stephen F. Biegenzahn, Esq.
         Michael Sobkowiak, Esq.
         FRIEDMAN LAW GROUP, P.C.
         1900 Avenue of the Stars, 11th Floor
         Los Angeles, CA 90067
         Tel: (310) 552-8210
         Fax: (310) 733-5442
         E-mails: jfriedman@jbflawfirm.com
                  sbiegenzahn@jbflawfirm.com
                  msobkowiak@jbflawfirm.com

                    About The Yucca Group, LLC

Headquartered in Woodland Hills, California, The Yucca Group, LLC,
aka Metro Modern Developers, develops, builds, and sells
residential real estate property.  It filed for Chapter 11 on
February 24, 2010 (Bankr. C.D. Calif. Case No. 10-12079).
Friedman Law Group serves as the Debtor's bankruptcy counsel.  In
its petition, the Debtor estimated its assets and debts at
$10 million to $50 million.


* Disbarred Atty Accused Of Diverting Firm's Clients, Cash
----------------------------------------------------------
Law360 reported that a disbarred Houston attorney has been sued in
Texas state court for allegedly diverting revenue from his former
law firm after another lawyer acquired it in a bankruptcy auction.
According to the report, the Bennett Law Firm PC hit Robert S.
Bennett with a lawsuit on July 3 in Harris County, accusing its
founder of transferring clients and cash to various law firms he
created and controlled following the bankruptcy sale of TBLF to
attorney Bobbie G. Bayless.


* Social Security Not Considered in Conversion from '7' to '13'
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that a June 27 opinion by U.S. District P. Kevin Castel in
Manhattan held that when an individual seeks conversion of a
Chapter 7 case to Chapter 13, Social Security income can't be
considered in deciding if the bankrupt is eligible for Chapter 13.
According to the report, Judge Castel relied on Section 207 of the
Social Security Act to say that income from Social Security cannot
be considered "in a Chapter 13 eligibility determination."

The appeal is Santiago-Monteverde v. Pereira (In re Santiago-
Monteverde), 14-01611, U.S. District Court, Southern District of
New York (Manhattan).


* AIG, Pru's Living Wills Won't Cure All in Case of Collapse
------------------------------------------------------------
Law360 reported that federal officials provided a glimpse into
American International Group Inc. and Prudential Financial Inc.'s
plans for a tidy wind-down of their business should they face
financial catastrophe, but experts say that with so many variables
-- and regulators -- involved, these "living wills" may have
limited use.  According to the report, after being labeled as
financial firms whose failure could threaten U.S. financial
stability, AIG and Prudential set to work on a plan detailing how
the companies should be resolved quickly and in orderly fashion if
they run into trouble.


* Immigrants Squeezed as Banks Curtail Int'l Money Transfers
------------------------------------------------------------
Michael Corkery, writing for The New York Times' DealBook,
reported that as government regulators crack down on the financing
of terrorists and drug traffickers, many big banks are abandoning
the business of transferring money from the United States to other
countries, moves that are expected to reverse years of declines in
the cost of immigrants sending money home to their families.

According to the report, while Mexico may be most affected --
nearly half of the $51.1 billion in remittances sent from the
United States in 2012 ended up in that country -- the banks' broad
retreat over the last year is affecting other countries in Latin
America and parts of Africa as well.  The report said the banks
are being held accountable not only for the customers who directly
use their money transfer services but also for their role in
collecting remittances from money transmitting companies and
wiring them abroad.


* 4 Attorneys Join Schnader, Bolstering Firm's Real Estate Group
----------------------------------------------------------------
Schnader Harrison Segal & Lewis LLP announced that Scott R.
Kipnis, Cynthia G. Couch, Erika L. Jenkins, and Rachel N.
Greenberger have joined the firm's New York City office. They come
to Schnader from Hofheimer Gartlir and Gross, LLP.

"We are delighted to be expanding the national real estate
capability of our office and the firm with this group of excellent
lawyers," said Schnader's New York Managing Partner Chris Carty.

Mr. Kipnis, Ms. Couch, Ms. Jenkins and Ms. Greenberger have nearly
70 years worth of combined experience in commercial real estate
matters, with a specialty in shopping center transactions, both in
the New York region and nationally.

"Scott, Cynthia, Erika and Rachel bring with them a sophisticated
real estate practice, representing national and regional chains,
in a full range of leasing, property development and land use
transactions and disputes throughout the country.  They also have
an innovative bankruptcy practice, extracting value from the real
estate assets of failed retailers," said Schnader Chairman David
Smith.

Real Estate Practice Group Chair Richard Kessler notes their
arrival at Schnader "further strengthens our expanding real estate
practice, and we look forward to the opportunity to team up with
our new attorneys on a variety of projects."

"I am very excited to be joining Schnader," said Mr. Kipnis. "The
firm brings a stellar national reputation platform that will allow
us to better serve our existing clients, as well as create new
opportunities for us to expand Schnader's leasing and real estate
practice."

"I have had the pleasure of working with Scott for more than a
decade on a range of leasing matters," said Todd Littler, vice
president leasing, real estate at Dollar Tree Stores. "Over that
time, he has shown himself to be knowledgeable, thorough, and
responsive. I look forward to continuing our relationship with
Scott, now paired with the stellar work we have come to expect
from Schnader."

Mr. Kipnis' extensive experience includes smooth resolution of
complex leasing disputes, building permit acquisition, contractual
and licensing disputes, construction issues, employment disputes,
insurance litigation, and banking disputes under the Uniform
Commercial Code.

Richard Senior, Ripco Real Estate broker noted that "one of
Scott's best attributes is his business acumen. His no nonsense
business approach is unique in deal making today - a talent that
is useful whether dealing with the largest REITs or the smallest
mom and pop landlords. Simply put, he knows how to get a deal
done."

"After working with Scott for more than five years in all areas of
NYC and Long Island, I can easily say you will not find a more
skilled commercial deal making attorney in the region and perhaps
the country," said Erin Grace, senior vice president of SRS Real
Estate Partners.

New Office

The firm also is announcing that it will be opening a new office
in Melville, N.Y. The Long Island town is home to a number of
significant businesses and is the center of a rapidly growing
business region, perhaps the most notable growth coming from the
recent move of Canon USA's national headquarters to the community.
Also headquartered in Melville are healthcare products and
services provider Henry Schein Inc., industrial equipment
distributor MSC Industrial Direct Co., Inc., digital graphics
provider Chyron Corporation, and OSI Pharmaceuticals, Inc.

"The Melville office gives us the flexibility to more efficiently
serve our clients and potential clients doing business in this
location," said Mr. Smith.

The office will be located at One Huntington Quadrangle, Melville,
NY 11747.

New Attorney Spotlights

Mr. Kipnis has a substantial track record with mutual client
Dollar Tree Stores, as well as other national retail brands. He
devotes a significant portion of his time representing national
and regional chains in leasing and retail property development,
from the inception of lease negotiation to retail store launch and
beyond. His clients include Fortune 500 retailers, smaller
national and regional retailers, commercial NYC real estate
developers, insurance defense third-party administrators, and
emerging businesses seeking general business and litigation
advice. In addition, he has handled high profile Chapter 11
bankruptcy proceedings, assisted clients in acquiring
bankrupt/surplus assets and appeared in bankruptcy proceedings to
protect creditor's rights across the country.

Ms. Couch has extensive experience in commercial and residential
real estate. She regularly provides legal counsel to business
owners in transactions ranging from the sale of a small family-
owned business to the purchase of a large franchise. She counsels
property owners, institutional lenders, investors, and individuals
in their commercial and residential real estate transactions
throughout Virginia, New York and the United States.

Ms. Jenkins' practice includes commercial real estate and leasing,
corporate formation, copyright registration and protection, and
trademark law (including brand creation and selection, clearing
new marks, preparing and filing federal trademark applications,
responding to USPTO office actions, and maintenance of
registrations).

Ms. Greenberger primarily handles real estate matters and real
estate-related litigation for a national retailer. Her practice
also includes a variety of bankruptcy, litigation and real estate
matters.

Further reporting on the Schnader attorneys and new office can be
found on Law360's article, "Schnader Opens Long Island Outpost
with 4-Atty RE Team" and The Philadelphia Business Journal's
article, "Schnader Harrison adds Long Island office, real estate
group."

          About Schnader Harrison Segal and Lewis LLP

Schnader Harrison Segal & Lewis LLP is a law firm of approximately
170 attorneys with offices in Philadelphia, Pittsburgh, New York
City, Melville, N.Y., California, Washington, D.C., New Jersey and
Delaware, with an associated office through the law firm of Yang &
Co located in Jakarta, Indonesia. Schnader serves local, national
and international clients ranging from large corporations to
start-ups and entrepreneurs to individual clients in more than 40
areas of the law. In addition to the firm's traditional strengths
in complex litigation, commercial transactions and wealth
management, the firm has significant experience and depth in
business reorganization, international commerce, financial
services, intellectual property, labor and employment laws,
construction law, real estate development, corporate governance,
appellate services, technology-based companies, media and
communications, environmental, energy, higher education,
nonprofit, government relations and regulatory affairs, aviation
issues, securities and shareholder litigation. For more
information, please contact Michael Walsh, senior communications
manager, at mwalsh@schnader.com or 215-751-2061.


* London Partner Elected Global Chair Of Latham & Watkins
---------------------------------------------------------
Latham & Watkins announced that Bill Voge has been elected Global
Chair and Managing Partner, effective January 1, 2015.  Voge will
succeed Robert M. Dell, Latham & Watkins' long-time leader, who is
retiring after 32 years with the firm, the last two decades as
Global Chair and Managing Partner.

Voge has an impressive track record in a variety of leadership
positions spanning 20-plus years, including eight years on the
Executive Committee from 1998-2002 and 2008-2012. He has also
served as Global Chair of the Finance Department from 2007-2008
and Global Co-Chair of the Project Finance Practice from 2004-2007
as well as leading a number of firm initiatives focused on global
strategy and practice integration for markets outside the United
States.

Voge's practice focuses primarily on all aspects of project
development and project financings, and he has acted for project
sponsors, banks, underwriters and other parties on a wide variety
of electricity and oil and gas projects in the United States and
globally. He is among the world's foremost project finance lawyers
with extensive experience leading complex, cross-border deals
around the globe. Voge is also a strong advocate for pro bono
service, with a particular focus on supporting the fight to end
human trafficking. Voge co-leads the firm's relationship with Not
For Sale, an international non-profit organization whose mission
is to abolish slavery, which involves a team of more than 100
lawyers and professional staff from the across firm's global
offices.

Voge is based in the firm's London office. He joined Latham in
1983 and was elected to the partnership in 1991.

Robert M. Dell, Global Chair and Managing Partner of Latham &
Watkins, said: "Bill brings an impressive mix of experience and
leadership qualities to the role: astute strategic vision; superb
judgment; smart business instincts; and, above all, strong
character. He is clear-sighted and a consensus-builder who is
highly attuned to our unique culture, client service and the
external market forces driving change in the legal profession.
Over the years, I have come to know Bill as a colleague and a
friend and I am confident that he will lead the firm to continued
success with his strength of character and courage of conviction."

Chair-Elect Voge said: "It is a unique privilege to lead our great
firm. I am profoundly honored to serve my partners in the service
of our clients. I look forward to working with the deep bench of
talented leaders spread around the globe. In particular, I look
forward to the opportunity to work with Vice Chairs Dave Gordon
and Ora Fisher and Chief Operating Officer LeeAnn Black, all of
whom have terrific judgment, drive and leadership."

"Bob is one of the great law firm leaders of our times. His legacy
in the firm and more broadly within the profession will be
immense. He has been a transformational leader and under his
stewardship Latham has had spectacular success and unprecedented
growth. Bob has driven our relentless focus on quality and client
service and he has exemplified our culture in all that he has
done. Bob is that rare leader that combines incredible humility
and integrity with a tough, competitive drive. He is known for his
fairness, judgment and selfless leadership, and in whose footsteps
I hope to follow," added Voge.

"Bill was one of the first Latham lawyers on the ground in the
firm's New York office when it opened in 1985 as well as one of
the first lawyers present when the London office was opened in
1990, and his international practice accounts for a uniquely deep
appreciation of our global platform and the global market forces
impacting our clients," said David Gordon, Vice Chair of Latham &
Watkins.

Ora Fisher, Vice Chair of Latham & Watkins, said: "In today's
complex, global economy, Bill's strategic leadership and
unflinching commitment to excellent client service will ensure we
continue to innovate and grow while staying true to our culture."

Miles Ruthberg, Chair of the Succession Committee, commented: "The
eight-month long, rigorous succession process reaffirmed our
shared values: strong collegial culture; inclusive and transparent
approach to management; and team approach. I am especially proud
of the candidates' professionalism and mutual respect throughout
the process. The diversity of highly qualified candidates is a
testament to the enormous depth of talent and leadership
experience in the firm."

LeeAnn Black, Chief Operating Officer, said: "I look forward to
working with Bill to continue to strengthen our phenomenal
platform that we have built under Bob's visionary stewardship.
Bob's strategic leadership has been integral to the firm's
success; he has presided over remarkable growth, all while
preserving the firm's culture which will be among his most
enduring legacies."

Voge received his BS from California State University in 1980 and
his JD from the University of California, Berkeley, School of Law
(Boalt Hall) in 1983 and his MBA from the University of
California, Berkeley.

                  About Latham & Watkins

Latham & Watkins is a global law firm with approximately 2,100
lawyers in its offices located in Asia, Europe, the Middle East
and the United States, including: Abu Dhabi, Barcelona, Beijing,
Boston, Brussels, Chicago, Doha, Dubai, Dsseldorf, Frankfurt,
Hamburg, Hong Kong, Houston, London, Los Angeles, Madrid, Milan,
Moscow, Munich, New Jersey, New York, Orange County, Paris,
Riyadh, Rome, San Diego, San Francisco, Shanghai, Silicon Valley,
Singapore, Tokyo and Washington, D.C.  Visit the Web site
http://www.lw.com/



                             *********

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.

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S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Ivy B. Magdadaro, Carlo Fernandez,
Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2014.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-241-8200.


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