TCR_Public/140729.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Tuesday, July 29, 2014, Vol. 18, No. 209

                             Headlines

AK STEEL: S&P Puts 'B' Corp. Credit Rating on CreditWatch Neg.
ALCO CORP: PRAPI Reiterates Bid to Convert Case to Chapter 7
AMERICAN ACHIEVEMENT: S&P Affirms B- Corp Credit Rating, Off Watch
AMERICAN BANCORP: Files Schedules of Assets and Liabilities
AMERICAN BANCORP: Wants to Hire Carl Marx as Financial Advisor

AMSTERDAM HOUSE: Targeting October Confirmation of Plan
AMSTERDAM HOUSE: Seeks to Use Bondholders' Cash Collateral
AMSTERDAM HOUSE: Seeking Sept. 5 Extension of Schedules Deadline
AMSTERDAM HOUSE: Proposes KCC as Claims and Noticing Agent
ARC DOCUMENT: S&P Raises CCR to 'BB-'; Outlook Stable

ARCHDIOCESE OF MILWAUKEE: Creditors' Attys Press Church to Pay Up
ASHER INVESTMENT: Has Until Sept. 16 to File Reorganization Plan
AURASOURCE INC: TAAD LLP Raises Going Concern Doubt
BLACKBOARD INC: S&P Assigns 'B+' Rating on $968MM Secured Loans
BLOX INC: Morgan LLP Raises Going Concern Doubt

BOWLMOR AMF: S&P Affirms 'B' Corp. Credit Rating; Outlook Stable
BRENNAN'S INC: New Orleans Restaurant Sold in $3 Million Deal
CALDERA PHARMACEUTICALS: Posts $5.4 Million Net Income in Q1
CAREFREE WILLOWS: Further Plan-Related Proceedings Stayed
CASCADE AG: Pivotal Solutions Terminated as Liquidating Agent

CATALENT PHARMA: S&P Puts 'B+' CCR on CreditWatch Positive
CLEARWATER PAPER: S&P Assigns 'BB' Rating on $300MM Sr. Notes
CLOUDEEVA INC: Shareholder Objects to Payment to Creditors
CLOUDEEVA INC: Can Employ KCC as Claims & Noticing Agent
COLLEGIATE ACADEMY: S&P Lowers ICR to 'B+' on Refunding Bonds

COLOR STAR: Hearing on Cash Collateral Use Continued to Aug. 25
COLOR STAR: NexBank Securities Withdraws Objection to Settlement
CONDOR DEVELOPMENT: Sept. 23 Hearing on Confirmation of Plan
CONSTELLATION ENTERPRISES: S&P Lowers CCR to 'B-'; Outlook Neg.
DETROIT, MI: Syncora's Appeals to Be Argued July 30

DEWEY & LEBOEUF: Operations Chief Says He Was Only an Employee
DODGE CITY FARM: Case Summary & 10 Unsecured Creditors
ELCOM HOTELS: Miami Condotel Ex-Owner Sues Partner Over $17M Loan
EPWORTH VILLA: Has Interim Authority to Use Cash Collateral
EPWORTH VILLA: Seeks to Employ Steidley & Neal as Special Counsel

EPWORTH VILLA: Wants Stay Lifted to Pursue Appeal in "Hicks" Suit
EPWORTH VILLA: Section 341(a) Meeting Set on August 25
ERF WIRELESS: IBC Funds Holds 9.9% Equity Stake
EXTERRAN HOLDINGS: S&P Cuts Rating on Sr. Unsecured Notes to 'BB-'
FISKER AUTOMOTIVE: Receives Few Objections to Plan Confirmation

GENCO SHIPPING: OZ Management Holds Less Than 1% Equity Stake
GENERAL MOTORS: DBRS Rates Senior Unsecured Debt at 'BB'
GENERAL MOTORS: Won't Waive Bankruptcy Shield in Switch Suits
GLOBAL AVIATION: Objections to Payment of Healthcare Claims Filed
GOLDEN PARK: Voluntary Chapter 11 Case Summary

GREEN MOUNTAIN: Files Bare-Bones Chapter 11 Petition
HAWAII OUTDOORS: Gets 15th Interim Order to Use Cash Collateral
HAYDEL PROPERTIES: Court Denies Peoples Bank's Dismissal Motion
HDOS ENTERPRISES: To Hold Auction of All Assets Today
HOWREY LLP: Jones Day, Seyfarth Can't Escape Judge Montali

HRK HOLDINGS: Seeks Sept. 7 Extension to File Chapter 11 Plan
IMMUNOCLIN CORP: Sadler, Gibb & Assocs. Raises Going Concern Doubt
IZEA INC: Stockholders to Sell 18.2 Million Common Shares
J GILLIAM WOOD: Case Summary & 6 Largest Unsecured Creditors
JACK HOMITZ: W.D. Pa. Judge Rejects Amended Bankruptcy-Exit Plan

JOSEPH LOOMIS: Hunter Humphrey's Bid for Status Hearing Nixed
KANGADIS FOODS: Files Schedules of Assets and Liabilities
KANGADIS FOODS: Gets Approval to Hire SilvermanAcampora as Counsel
KANGADIS FOODS: Gets Approval to Hire Fox as Special Counsel
KANGADIS FOODS: Judge Sets Deadlines for Filing Claims

KANGADIS FOODS: Files Amended List of Largest Unsecured Creditors
LEATHERSTOCKING ANTIQUES: Approval of Winston Capital Deal Upheld
LIGHTSQUARED INC: Has Access to Cash Collateral Until July 31
LRG REALTY: Case Summary & 6 Largest Unsecured Creditors
LUPATECH SA: Foreign Debt-Reduction Plan Enforced by U.S. Court

MAGNOLIA SCIENCE: S&P Revises Outlook & Affirms 'BB' Rating
MILLENNIUM HOLDINGS: 7th Cir. Upholds Risk-Contribution Theory
MOMENTIVE PERFORMANCE: Senior Lenders Sue For Deal Breaches
NATROL INC: July 30 Hearing on Continued Cash Collateral Access
NATROL INC: July 30 Hearing to Approve Compromise With Cerberus

NATROL INC: Hires Squar Milner to Provide CRO
NATROL INC: Hires Miller Barondess as Special Litigation Counsel
PARLIAMENT PARTNERS: Case Summary & 20 Top Unsecured Creditors
PETER SZANTO: Nevada Judge Won't Reinstate Bankruptcy Case
PIONEER POINT: U.S. Court Closes Chapter 15 Proceedings

PLYMOUTH OIL: Bid for Case Dismissal Taken Under Advisement
PSL NORTH AMERICA: To Test Jindal Bid at Aug. 13 Auction
QBS INTERMEDIATE: S&P Assigns Prelim. 'B' CCR; Outlook Stable
QUANTUM FOODS: Freeborn & Peters to Aid Panel in Avoidance Actions
QUANTUM FOODS: Withdraws Motion to Sell Substantially All Assets

QUANTUM FOODS: Committee Authorized to Prosecute Lawsuits
REGENT PURCHASER: S&P Assigns 'B' CCR; Outlook Stable
REICHHOLD INDUSTRIES: S&P Lowers CCR to 'CCC-'; Outlook Negative
RESIDENTIAL CAPITAL: Minn. Judge Rules on RFC Suit v. Americash
RESIDENTIAL CAPITAL: Claims Against Mortgage Access Survives

RESIDENTIAL CAPITAL: Wells Fargo Fails to Dismiss Lawsuit
RESIDENTIAL CAPITAL: Macks' QWR Claim Survives
RIVER CITY RESORT: Frankenberg Lawsuits Remanded to State Court
ROOFING SUPPLY: S&P Revises Outlook to Neg. & Affirms 'B' CCR
SHERIDAN HEALTHCARE: S&P Withdraws 'B' CCR Over Amsurg Deal

SHILO INN: Gets Court Approval to Hire Green & Markley
SOMERSET HILLS: Case Summary & 20 Largest Unsecured Creditors
SOURCE HOME: Has Court's Final Nod to Use Cash Collateral
SOURCE HOME: Creditors Blast $24M Sale Plan
SPECIALTY HOSPITAL: Taps Cain Brothers as Investment Banker

SPEEDEMISSIONS INC: IBC Funds Reports 9.9% Equity Stake
SPORTSMAN'S OUTFITTERS: Case Summary & 20 Top Unsecured Creditors
STAR DYNAMICS: Exclusive Plan Filing Period Extended to Oct. 6
STEEL DYNAMICS: S&P Puts 'BB+' CCR on CreditWatch Negative
STUART AULD: Must Pay Bankruptcy Filing Fee by Aug. 11

TANGLEWOOD FARMS: Ch.7 Trustee May Recoup $33,500 From Dr. Morris
TESLA ELECTRIC: Case Summary & 75 Largest Unsecured Creditors
TEXAS STAR: Ch.7 Trustee May Auction Off Wilsons' Stake
THREE FORKS: Files Second Amendment to 2013 Annual Report
TRAFALGAR POWER: Clearbid to Conduct Asset Sale on September 16

TREEHOUSE FOODS: S&P Affirms 'BB' CCR; Outlook Stable
TRI COUNTY CONTRACTORS: Voluntary Chapter 11 Case Summary
UNITED AIRLINES: S&P Assigns 'BB-' Rating on $500MM Secured Loan
US FOODS: S&P Retains 'B' CCR on CreditWatch Positive
VAUGHAN COMPANY: Johnsons Directed to Respond to Discovery

VAUGHAN COMPANY: Appelman et al. Denied Jury Trial
VERSO PAPER: Exchange Offers Early Tender Time Expire
VISANT HOLDING: S&P Affirms 'B' CCR & Removes From Watch Negative
VISTEON CORP: Judge Keeps Retiree Benefit Row In District Court
WARREN RESOURCES: S&P Assigns B CCR & Rates New Unsec. Notes B-

WATERVILLE WINDOW: Files for Chapter 7 Bankruptcy
WRS HOLDING: Voluntary Chapter 11 Case Summary

* 9th Circ.: Malpractice Suit Is Bankruptcy 'Core Proceeding'
* Bond Fee Disclosures Sought by SEC to End 38-Year Debate
* Fifth Circuit Panel Urges Reconsideration of Pro-Snax Fee Rules
* Hypothetical Purchaser Status Arises Automatically

* Bankruptcy Shows Pressures on Retirement Communities, Fitch Says
* House Democrats Seek to Protect Workers in Municipal Bankruptcy

* As Dodd-Frank Reaches Fourth Year, White Says More Work to Do
* Atlantic City Adrift as Casino Closings Sap Jobs Market

* 21st Annual Distressed Investing Conference Announcement

* Large Companies With Insolvent Balance Sheet


                             *********


AK STEEL: S&P Puts 'B' Corp. Credit Rating on CreditWatch Neg.
--------------------------------------------------------------
Standard & Poor's Ratings Services said it placed its ratings,
including its 'B' corporate credit rating, on West Chester, Ohio-
based AK Steel Corp. and AK Steel Holding Corp. on CreditWatch
with negative implications.

The CreditWatch negative listing follows AK Steel's announcement
that it agreed to acquire the integrated steelmaking assets of
Dearborn, Mich.-based Severstal.  The purchase price for the
assets is $700 million (excluding transaction fees and expenses).
S&P expects the company to finance the acquisition with a mix of
debt and equity.

While the exact financing structure has not been finalized, S&P
estimates that the transaction could weaken the company's credit
ratios, with pro forma leverage, as measured by debt to EBITDA,
exceeding last-12-months March 2014 levels of 11x, which is
already stretched for the rating.

AK Steel is a vertically integrated steel maker with backward
integration into iron ore and metallurgical coal.  The company
manufactures flat-rolled carbon, stainless, and electrical steel.

"We will resolve the CreditWatch listing following our review of
the financing details of the pending transaction and implications
for AK Steel's financial risk profile. Upon completion of our
review, we could lower the ratings or leave them unchanged," said
Standard & Poor's credit analyst Funmi Afonja.


ALCO CORP: PRAPI Reiterates Bid to Convert Case to Chapter 7
------------------------------------------------------------
PR Asset Portfolio 2013-1 International, LLC (PRAPI) filed papers
with the Bankruptcy Court to notify of Alco Corporation's failure
to comply with a Court order, and to reiterate its request to
convert the Debtor's case to one under Chapter 7 of the Bankruptcy
Code.

According to PRAPI, the Debtor was ordered by the Court to
provide, among other things, additional disclosures and
information to PRAPI, MAPFRE PRAICO Insurance Company (MAPFRE),
and Betteroads Asphalt Corp., as to certain payments for the
parties to reach an agreement and in preparation for a June 10,
2014 hearing on conversion.

As of May 30, 2014, the Debtor failed to comply with the order of
the Court by not providing the information and disclosures
requested from it by May 27 deadline.

The Debtor also did not file its quarterly report for the period
of January 2014 through March 2014.  PRAPI said that the Debtor is
not operating and has squandered all of the proceeds obtained from
the sale of its vehicles and equipment to the detriment of the
estate and the creditors, including PRAPI, who had a lien over the
vehicles sold and, thus, was entitled to receive payment of not
less than $197,750.

As reported in the Troubled Company Reporter on May 13, 2014, the
Debtor responded to PRAPI's objection to the motion to voluntarily
dismiss its Chapter 11 case, stating that PRAPI's request
demonstrated the creditor's attempt to continue thwarting the
negotiations between the Debtor, Betteroads Group and the Bonding
Companies.

According to the Debtor, PRAPI sought an amicable resolution to
all litigation in the lead case, both adversary proceedings before
the Court and the state court litigation.

Both Betteroads Group and the Bonding Companies support the
Debtor's request for the voluntary dismissal since it provides a
viable alternative to resolve the controversies with the key
players of the case and resolve the largest claims held against
the debtor without further litigation.

The Debtor said conversion of the case to Chapter 7 will not
provide any benefit to creditors, including PRAPI.

As reported in the TCR on May 7, 2014, PRAPI said the Debtor's
only intention through the voluntary dismissal is to continue with
its liquidation without supervision of the Court and in the
detriment of creditors.  PRAPI related that it has a lien over all
of the Debtor's asset by virtue of Banco de Popular de Puerto
Rico's transfer of its claim against the Debtor to PRAPI.

PRAPI said that the Debtor, by entering into a stipulation with
the Bonding Companies, unlawfully attempted to infringe on PRAPI's
existing liens and security interests.  PRAPI cited that the
Debtor purported to grant the Bonding Companies with adequate
protection in the form of a valid, first rank lien, in the
Debtor's cash collateral.  Moreover, PRAPI contended, the Debtor
accepts that it mismanaged the estate when it admits that it has
ceased operations in the Canovanas Asphalt Plan.  PRAPI is
convinced that the appointment of a Chapter 7 trustee will allow
payment to be obtained in an efficient and organized manner.

The Debtor has said the dismissal of the case will benefit of all
creditors and parties-in-interest so as to allow it to resolve all
pending matters outside of bankruptcy and continue with the
implementation of its confirmed plan of reorganization.  The
Debtor believes dismissal will allow it to resolve more
efficiently all matters with Betteroads Asphalt, secured creditor
PRAPI and the bonding companies -- Travelers Casualty and
Surety Company, Reliance Insurance Company and MAPFRE PRAICO
Insurance Company.

Betteroads Asphalt and the Debtor were involved in state court
litigation over the collection of funds against the Debtor and its
principals.  Betteroads Asphalt also took an appeal from the
Bankruptcy Court's order confirming the Debtor's Plan.  The
parties were eventually able to arrive at a settlement in 2013.
However, the Bonding Companies opposed the settlement.

The Debtor eventually reached a settlement with the Bonding
Companies in January 2014.  That settlement was opposed by PRAPI.
No settlement has been reached with PRAPI.

As stated in open court at an April 2 hearing, all the parties
except for PRAPI, favor dismissal of the Debtor's case.

The Debtor maintained that if the case is dismissed, PRAPI will
suffer no harm.  PRAPI holds a lien over the Debtor's primary
assets and is said to have obtained a judgment against the Debtor
prior to the bankruptcy filing.  Thus, if dismissal is granted,
PRAPI has the alternative to execute its judgment and obtain an
adequate remedy in law in order to collect the remainder of the
claim which was unpaid.

On the other hand, the Debtor contended, conversion of the case
will burden the estate further since Chapter 7 administrative
expenses will accrue and the litigation in both adversary
proceedings and any other contested matter in the lead case will
continue.

                       About Alco Corp.

Alco Corporation in Dorado, Puerto Rico, filed for Chapter 11
bankruptcy (Bankr. D.P.R. Case No. 12-00139) on Jan. 12, 2012.
Carmen D. Conde Torres, Esq., and C. Conde & Associates represent
the Debtor in its restructuring effort.  Alco tapped Jimenez
Vasquez & Associates, PSC, as accountants.  The Debtor scheduled
$11.2 million in assets and $7.76 million in debts.  The petition
was signed by Alfonso Rodriguez, president.

Bankruptcy Judge Mildred Caban Flores in Puerto Rico issued an
opinion and order on March 11, 2013, confirming the Amended
Chapter 11 Plan of Reorganization filed by Alco Corporation.  The
Plan considers the full payment of all administrative, secured
creditors and priority claims and a 50% dividend to the general
unsecured creditors on monthly installments within 5 years from
the effective date.


AMERICAN ACHIEVEMENT: S&P Affirms B- Corp Credit Rating, Off Watch
------------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on Austin, Texas-based American Achievement Corp.
S&P removed the rating from CreditWatch, where it placed it with
positive implications on Nov. 21, 2013, following the announced
acquisition plan by rival, Visant Holding Corp.

The rating action reflects The Federal Trade Commission's decision
to block Visant's proposed acquisition, citing competition
concerns.  The FTC ruled that the business combination would
result in the combined company controlling the vast majority of
the high school and college ring markets.

The 'B-' corporate credit rating reflects S&P's expectation that
American Achievement's ongoing unfavorable revenue trends will
continue to pressure EBITDA and discretionary cash flow, resulting
in a moderate increase in leverage.  S&P continues to assess the
business risk profile as "vulnerable" based on its narrow business
focus and small scale relative to competitors.  S&P's assessment
of the company's financial risk profile remains "highly leveraged"
based on lease-adjusted leverage of roughly 6x and the private
equity ownership.  S&P's management and governance assessment
remains "fair".

American Achievement is a second-tier player in a niche business,
which benefits from existing relationships with customers and
traditional product offerings.  Based on EBITDA, it is about one-
fourth the size of market leader Visant Corp.  Historically,
because of students' emotional ties with their schools and fellow
students, and tradition-based timing of ring and yearbook buying,
students' purchase rates were fairly stable.  However, S&P
believes generational changes in student social interaction as
well as a still slowly improving economy have resulted in lower
volumes for school affinity products.  Revenue and EBITDA declined
slightly by 1.2% and 1.6% year-over-year, respectively in the
fiscal third quarter ended March 31, 2014.  The company has
experienced increased competition from online sites that offer
Web-based virtual products and other traditional school affinity
product providers.  S&P believes American Achievement's business
risks and opportunities will translate into flat to slightly lower
revenue and EBITDA in fiscal year 2014 ending August 31, 2014.

For the last-12-month period ended March 31, 2014, lease-adjusted
debt to EBITDA was high, at roughly 6x, above the 5x leverage
threshold S&P associates with a "highly leveraged" financial risk
profile.  In the near-to-intermediate term, S&P expects that
softness in revenue could lead to EBITDA declines and a moderate
increase in leverage.


AMERICAN BANCORP: Files Schedules of Assets and Liabilities
-----------------------------------------------------------
American Bancorporation filed with the Bankruptcy Court its
schedules of assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property              $105,758
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $1,316,750
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                       $50,017,422
                                 -----------      -----------
        Total                       $105,758      $51,334,172

A copy of the schedules is available for free at:

     http://bankrupt.com/misc/AmericanBancorp_18_SALs.pdf

                  About American Bancorporation

Alesco Preferred Funding XV, Ltd., and two related entities filed
an involuntary Chapter 11 bankruptcy petition for St. Paul,
Minnesota-based American Bancorporation (Bankr. D. Minn. Case No.
14-31882) on May 1, 2014.  The involuntary petition filed in St.
Paul Minnesota indicates that the three alleged creditors are owed
in excess of $48 million:

     Creditor                                   Amount of Claim
     --------                                   ---------------
Alesco Preferred Funding XV, Ltd.                 $27,374,356
Alesco Preferred Funding XVI, Ltd.                $13,728,562
Alesco Preferred Funding II, Ltd.                  $7,000,000
                                                plus interest

The alleged creditors are represented by Jeffrey Klobucar, Esq.,
at Bassford Remele, PA.

Judge Katherine A. Constantine handles the case.  She has entered
an order for relief, officially placing American Bancorporation in
Chapter 11.

Judge Kathleen H. Sanberg was originally assigned to the case but
she disqualified herself in the case, according to her May 1 order
of recusal.


AMERICAN BANCORP: Wants to Hire Carl Marx as Financial Advisor
--------------------------------------------------------------
American Bancorporation filed a supplement to its application
seeking Bankruptcy Court approval to employ Carl Marks Securities
LLC, as financial advisor.

The application filed on June 24, 2014, stated that the Debtor
requires the services of a financial advisor to advise it
regarding the strategic alternatives available to it and to assist
in the implementation of a strategic plan, including a prospective
reorganization, sale or merger.

CMS will:

   a. assist or participate in negotiations with the parties in
interest, including, without limitation, any current or
prospective creditors of, holders of equity in, or claimants
against the Debtor or their respective representatives in
connection with a transaction;

   b. assist or participate in negotiations with the parties in
interest in connection with one or more transactions whereby
control of or a material interest in the securities, assets or
business of the Debtor is acquired by or disposed of through the
sale, exchange or disposition of capital stock, debt or assets, a
conversion of debt to equity, a lease of assets with or without a
purchase option, a merger or consolidation, a tender or exchange
offer, a leveraged buy-out, a minority investment, the formation
of a joint venture or partnership, or any other business
combination or similar transaction, whether consummated through a
court approved sale transaction under Section 363 of the
Bankruptcy Code or similar mechanism, and pursuant to a Plan of
Reorganization;

   c. advise the Debtor on the risks and benefits of considering a
transaction with respect to its strategic alternatives to maximize
value, whether pursuant to a sale, a Plan of Reorganization or
otherwise.

Under the Agreement, the firm will receive a completion fee in an
amount equal to 4.0% of the transaction value of any transaction.
CMS will also be entitled to reimbursement for all reasonable out-
of-pocket expenses incurred by it in the performance of its duties
under the agreement upon the closing of a transaction and upon
presentation of appropriate documentation to the Debtor; provided
that such expenses will not exceed $50,000 in the aggregate
without the prior written consent of the Debtor.

To the best of the Debtor's knowledge, CMS does not represent any
interest adverse to the estate.

In the supplemental documents, the Debtor seeks an order (a)
authorizing it to employ CMS as its financial advisor effective as
of June 16, 2014, and (b) approving the terms and conditions under
which CMS will be retained and compensated by the Debtor in the
case.

The parties' Amended Agreement, which was renegotiated to address
concerns expressed by the U.S. Trustee, reflects additional
material concessions made by CMS and that benefit the bankruptcy
estate.  First, the Amended Agreement eliminates all provisions in
the original agreement that included an obligation on the part of
the Debtor to indemnify CMS and thereby subjected the bankruptcy
estate to the possibility of potential liability arising from CMS'
performance under the agreement.  Second, the Amended Agreement
now reflects a change in the governing law under the contract from
"New York" to "Minnesota."

A copy of the Amended application is available for free at
http://bankrupt.com/misc/AmericanBancorp_26_appCarlMarks.pdf

On July 11, Alesco Preferred Funding XV, Ltd. and Alesco Preferred
Funding XVI, Ltd., through their collateral manager ATP Management
LLC, supported the application to employ CMS, stating that the
employment is in the best interests of the Debtor's estate and
creditors -- and essential to the successful resolution of the
bankruptcy case.

The Debtor, in response to the objection filed by the U.S.
Trustee, stated that financial advisors are an essential part of
the reorganization process in bankruptcy.

The U.S. Trustee recommended that the Application to employ and
approve terms of compensation of CMS not be approved because the
Debtor is located in Minnesota and the case is proceeding in
Minnesota.  The U.S. Trustee said it seems that Minnesota law
would presumptively govern the agreement.

The Plaintiffs are represented by:

         Jeffrey D. Klobucar, Esq.
         BASSFORD REMELE
         33 South Sixth Street, Suite 3800
         Minneapolis, MN 55402-3707
         Tel: (612) 333-3000
         Fax: (612) 333-8829
         E-mail: jklobucar@bassford.com

              - and -

         Jason W. Harbour, Esq.
         Shannon E. Daily, Esq.
         HUNTON & WILLIAMS, LLP
         Riverfront Plaza, East Tower
         951 East Byrd Street
         Richmond, VA 23219
         Tel: (804) 788-8200
         Fax: (804) 343-4834
         E-mails: jharbour@hunton.com
                  sdaily@hunton.com

                  About American Bancorporation

Alesco Preferred Funding XV, Ltd., and two related entities filed
an involuntary Chapter 11 bankruptcy petition for St. Paul,
Minnesota-based American Bancorporation (Bankr. D. Minn. Case No.
14-31882) on May 1, 2014.  The involuntary petition filed in St.
Paul Minnesota indicates that the three alleged creditors are owed
in excess of $48 million:

     Creditor                                   Amount of Claim
     --------                                   ---------------
Alesco Preferred Funding XV, Ltd.                 $27,374,356
Alesco Preferred Funding XVI, Ltd.                $13,728,562
Alesco Preferred Funding II, Ltd.                  $7,000,000
                                                plus interest

The alleged creditors are represented by Jeffrey Klobucar, Esq.,
at Bassford Remele, PA.

Judge Katherine A. Constantine handles the case.  She has entered
an order for relief, officially placing American Bancorporation in
Chapter 11.

Judge Kathleen H. Sanberg was originally assigned to the case but
she disqualified herself in the case, according to her May 1 order
of recusal.


AMSTERDAM HOUSE: Targeting October Confirmation of Plan
-------------------------------------------------------
Before filing for bankruptcy, Amsterdam House Continuing Care
Retirement Community, Inc., negotiated the terms of a Chapter 11
plan with holders of revenue bonds.  The Debtor is seeking court
approval of the pre-negotiated plan based on this time-line:

  -- An Aug. 20, 2014 deadline for objections to the explanatory
disclosure statement;

  -- Aug. 27 deadline for responses to objections to the
disclosure statement;

  -- A hearing on the disclosure statement on Sept. 3;

  -- A voting record date of Sept. 3;

  -- A Sept. 9 deadline for mailing by the Debtor of solicitation
packages to voting creditors;

  -- A Sept. 9 deadline to file a FRBP Rule 3018 motion;

  -- An Oct. 7 deadline for creditors to submit ballots;

  -- An Oct. 7 due date for objections to confirmation of the
plan; and

  -- A hearing to consider confirmation of the Plan on Oct. 21.

The Debtor's plan is designed to have no meaningful impact on the
residents residing at Harborside or the Debtor's general unsecured
creditors.  Indeed, except to the extent that a holder of an
allowed general unsecured claim agrees to a less favorable
treatment under the Plan, each holder of an allowed general
unsecured claim is anticipated to receive payment in full, in
cash, of the unpaid portion of such allowed general unsecured
claim.  Further, all residency agreements will be assumed under
the plan.

The Debtor is proposing a Sept. 30, 2014 deadline for creditors
(other than governmental entities) to file proofs of claims.  It
wants a Jan. 20, 2015 bar date for governmental entities.

The Debtor estimates that payments to employees will total
$490,000, payments to financial and business consultants will
total $481,000, and $69,800 will be paid to officers and directors
within 30 days following the Petition Date.

The Debtor expects cash receipts to total $1.08 million and cash
disbursements to reach $2.82 million during the first 30 days of
the Chapter 11 case.

Holders of approximately 75% of outstanding revenue bonds who
support the negotiated plan are represented by:

         Daniel S. Bleck, Esq.
         MINTZ LEVIN COHN FERRIS GLOVSKY & POPEO, PC
         One Financial Center
         Boston, MA 02111
         E-mail: dsbleck@mintz.com

A copy of the affidavit in support of the first-day motions is
available for free at:

    http://bankrupt.com/misc/Amsterdam_1st_Day_Affidavit.pdf

                       About Amsterdam House

Amsterdam House Continuing Care Retirement Community, Inc., owns
and operates Harborside, an upscale retirement community is
situated on 8.9 acres in Port Washington, New York.  Harborside
-- http://www.theamsterdamatharborside.com/-- is Nassau County's
first and only CCRC licensed under Article 46 of the New York
Public Health Law.  CCRCs provide senior citizens with a full
range of living accommodations and healthcare services during
their retirement years.  Harborside currently offers 329 units of
varying sizes for independent, enriched, and skilled nursing care.

Amsterdam House filed a Chapter 11 bankruptcy petition (Bankr.
E.D.N.Y. Case No. 14-73348) on July 22, 2014, in Central Islip,
New York, to implement a prenegotiated bankruptcy-exit plan.

The case is assigned to Judge Alan S Trust.

Ingrid Bagby, Esq., at Cadwalader Wickersham & Taft LLP, serves as
the Debtor's counsel.  Grant Thornton LLP serves as financial
advisors, Herbert J. Sims & Co., Inc., serves as investment
bankers, and Kurtzman Carson Consultants LLC acts as claim and
noticing agent.

The Company said that total assets were $286 million and debt was
$437 million as of April 30, 2014.


AMSTERDAM HOUSE: Seeks to Use Bondholders' Cash Collateral
----------------------------------------------------------
Amsterdam House Continuing Care Retirement Community, Inc., is
asking for approval from the bankruptcy court to use cash
collateral of bondholders and grant adequate protection to UMB
Bank, n.a., as successor indenture trustee for the revenue bonds.

The Debtor is obligated to UMB Bank for the benefit of the
beneficial holders of the tax-exempt bonds authorized and issued
by the Nassau County Industrial Development Agency in December
2007 for the benefit of the Debtor.  The proceeds of the bonds
were used by the Debtor to acquire Harborside.  As of the Petition
Date, the unpaid principal on the bonds amount to $221 million.

The Debtor will use cash until Oct. 25, 2014, in accordance with a
budget.  It will use the cash collateral to fund operating
expenses and professional fees, as well as for purposes of
insurance, taxes, and other ordinary course costs and expenses
related to the Debtor's operations.  The Debtor believes that the
cash collateral budget will be adequate (inclusive of professional
fees and disbursements), considering all available assets, to pay
all administrative expenses due or accruing during the period
covered therein.

The Debtor will grant the 2007 Bond Trustee adequate protection
for any diminution in the value of the cash collateral and the
other prepetition bond collateral in the form of replacement liens
and a superpriority claim.

The 2007 Indenture established various funds to be held by the
2007 Bond Trustee, including a "Debt Service Reserve Fund" and an
"Entrance Fee Fund".  As of the Petition Date, the aggregate
balance of the Debt Service Reserve Fund was approximately
$7,905,905 million, and the balance of the Entrance Fee Fund was
approximately $4,445,874 million.  The Bond Trustee Funds are held
in trust for the benefit of the bondholders.

Under the proposed interim order, and with the 2007 Bond
Trustee's consent, the Debtor is authorized to access funds in an
aggregate amount not to exceed $2,220,000 from the Entrance Fee
Fund in order to satisfy any obligation of the Debtor to pay
resident refunds that become due and owing during the Chapter 11
case and that are required to be paid pursuant to any residency
agreements with the residents of Harborside, provided that such
authorization shall be effective only after the Debtor has
expended $2,350,000 from its operating revenues generated during
the Chapter 11 Case and/or from funds held in its operating
account to pay Refunds during the chapter 11 Case.

Once the aggregate amount of refunds paid from the Entrance Fee
Fund during the Chapter 11 case equals or exceeds $2,220,000, the
Debtor may pay any additional refunds that become due and payable
during the Chapter 11 Case from the Entrance Fee Fund only with
the consent of the 2007 Bond Trustee.  During the Chapter 11 Case,
the Debtor shall hold in an escrow account all entrance fees it
receives under any residency agreement entered into on or after
June 1, 2014. The Debtor's interest in the New Entrance Fee Escrow
Account and the funds therein shall be subject to a first priority
lien in favor of the 2007 Bond Trustee for the benefit of the
Bondholders.

The parties agree that the Debtors' access to cash collateral will
terminate in the event, among other things:

   -- The Debtor fails to obtain entry of an order confirming the
Plan of Reorganization on or before October 24, 2014, which date
shall be subject to extension by the 2007 Bond Trustee without
further order of the Court;

  -- The Plan of Reorganization fails to become effective as of
November 28, 2014 as required by the Plan Support Agreement; or

  -- The Court fails to enter a final order allowing the Debtors'
access to cash collateral on or before Aug. 22, 2014.

                       About Amsterdam House

Amsterdam House Continuing Care Retirement Community, Inc., owns
and operates Harborside, an upscale retirement community is
situated on 8.9 acres in Port Washington, New York.  Harborside
-- http://www.theamsterdamatharborside.com/-- is Nassau County's
first and only CCRC licensed under Article 46 of the New York
Public Health Law.  CCRCs provide senior citizens with a full
range of living accommodations and healthcare services during
their retirement years.  Harborside currently offers 329 units of
varying sizes for independent, enriched, and skilled nursing care.

Amsterdam House filed a Chapter 11 bankruptcy petition (Bankr.
E.D.N.Y. Case No. 14-73348) on July 22, 2014, in Central Islip,
New York, to implement a prenegotiated bankruptcy-exit plan.

The case is assigned to Judge Alan S Trust.

Ingrid Bagby, Esq., at Cadwalader Wickersham & Taft LLP, serves as
the Debtor's counsel.  Grant Thornton LLP serves as financial
advisors, Herbert J. Sims & Co., Inc., serves as investment
bankers, and Kurtzman Carson Consultants LLC acts as claim and
noticing agent.

The Company said that total assets were $286 million and debt was
$437 million as of April 30, 2014.


AMSTERDAM HOUSE: Seeking Sept. 5 Extension of Schedules Deadline
----------------------------------------------------------------
Amsterdam House Continuing Care Retirement Community, Inc., is
asking the bankruptcy court to extend by 31 days through and
including Sept. 5, 2014, the deadline to file schedules of assets
and liabilities, schedules of current income and expenditures,
schedules of executory contracts and unexpired leases, and
statements of financial affairs.

Counsel to the Debtor, Ingrid Bagby, Esq., at Cadwalader,
Wickersham & Taft LLP, explains that due to the nature of the
Debtor's business, its relatively limited administrative staff
available to review its financial records and affairs during this
critical juncture, and the multiple critical operational matters
that its professionals must address at the beginning of the
chapter 11 case, the Debtor will not be in a position to properly
and accurately complete the schedules and statements within the
required 14-day period.

                       About Amsterdam House

Amsterdam House Continuing Care Retirement Community, Inc., owns
and operates Harborside, an upscale retirement community is
situated on 8.9 acres in Port Washington, New York.  Harborside
-- http://www.theamsterdamatharborside.com/-- is Nassau County's
first and only CCRC licensed under Article 46 of the New York
Public Health Law.  CCRCs provide senior citizens with a full
range of living accommodations and healthcare services during
their retirement years.  Harborside currently offers 329 units of
varying sizes for independent, enriched, and skilled nursing care.

Amsterdam House filed a Chapter 11 bankruptcy petition (Bankr.
E.D.N.Y. Case No. 14-73348) on July 22, 2014, in Central Islip,
New York, to implement a prenegotiated bankruptcy-exit plan.

The case is assigned to Judge Alan S Trust.

Ingrid Bagby, Esq., at Cadwalader Wickersham & Taft LLP, serves as
the Debtor's counsel.  Grant Thornton LLP serves as financial
advisors, Herbert J. Sims & Co., Inc., serves as investment
bankers, and Kurtzman Carson Consultants LLC acts as claim and
noticing agent.

The Company said that total assets were $286 million and debt was
$437 million as of April 30, 2014.


AMSTERDAM HOUSE: Proposes KCC as Claims and Noticing Agent
----------------------------------------------------------
Amsterdam House Continuing Care Retirement Community, Inc., is
seeking bankruptcy court approval to employ Kurtzman Carson
Consultants LLC as claims and noticing agent.

The Debtor has a substantial number of potential creditors and
other parties in interest in the chapter 11 case.  Although the
Office of the Clerk of the Court ordinarily would serve notices on
the Debtor's creditors and other parties in interest and
administer claims against the Debtor, the Clerk's Office may not
have the resources to undertake such tasks, especially in light of
the size of the Debtor's creditor body and the expedited timelines
that frequently arise in chapter 11 cases.

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

The fee structure (which lists the rates or prices to be charged
by KCC) agreed upon by the parties were not included in publicly-
available court filings.

James Davis, president and CEO, attests that KCC is a
"disinterested person" within the meaning of Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

         KURTZMAN CARSON CONSULTANTS LLC
         2335 Alaska Ave.
         El Segundo, CA 90245
         Attn: Drake D. Foster
         Tel: (310) 823-9000
         Fax: (310) 823-9133
         E-mail: dfoster@kccllc.com

                       About Amsterdam House

Amsterdam House Continuing Care Retirement Community, Inc., owns
and operates Harborside, an upscale retirement community is
situated on 8.9 acres in Port Washington, New York.  Harborside
-- http://www.theamsterdamatharborside.com/-- is Nassau County's
first and only CCRC licensed under Article 46 of the New York
Public Health Law.  CCRCs provide senior citizens with a full
range of living accommodations and healthcare services during
their retirement years.  Harborside currently offers 329 units of
varying sizes for independent, enriched, and skilled nursing care.

Amsterdam House filed a Chapter 11 bankruptcy petition (Bankr.
E.D.N.Y. Case No. 14-73348) on July 22, 2014, in Central Islip,
New York, to implement a prenegotiated bankruptcy-exit plan.

The case is assigned to Judge Alan S Trust.

Ingrid Bagby, Esq., at Cadwalader Wickersham & Taft LLP, serves as
the Debtor's counsel.  Grant Thornton LLP serves as financial
advisors, Herbert J. Sims & Co., Inc., serves as investment
bankers, and Kurtzman Carson Consultants LLC acts as claim and
noticing agent.

The Company said that total assets were $286 million and debt was
$437 million as of April 30, 2014.


ARC DOCUMENT: S&P Raises CCR to 'BB-'; Outlook Stable
-----------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Walnut Creek, Calif.-based printing service provider ARC
Document Solutions Inc. to 'BB-' from 'B+'.  The outlook is
stable.

At the same time, S&P revised its recovery rating on the company's
$200 million term loan to '2', indicating our expectation for
substantial (70% to 90%) recovery in the event of a payment
default, from '3' (50% to 70% recovery expectation).  S&P
subsequently raised its issue-level rating on this debt to 'BB'
from 'B+', in accordance with S&P's notching criteria.

The upgrade reflects S&P's expectation that the company will
maintain leverage at less than 3x, as well as the company's
prospects for more stable operating performance.  ARC has
deleveraged through amortization payments on its $200 million term
loan, in addition to voluntary debt repayments.  S&P expects that
the company will exceed its $10 million required amortization
payments in 2014 by repaying an additional $10 million to $20
million, which results in leverage in the 2.5x area at the end of
2014, down from 3.1x at year-end 2013.  Based on S&P's view that
the company will be able to maintain leverage below 3x, it has
revised its financial risk profile assessment to "intermediate"
from "significant."

S&P regards ARC's business risk profile as "weak" because of
negative structural trends in the company's traditional black and
white offsite reprographic services and the narrow scope of its
market and customers.  While traditional reprographics remains a
significant revenue segment, S&P expects that weakness in
commercial construction activity and changing preferences of ARC
customers to either print onsite or to view documents digitally,
will continue to pressure the reprographics segment revenue.  On
the positive side, ARC's onsite service grew 8% in the first
quarter, and now accounts for a significant proportion of revenue
at 31%.  Moreover, it positions the company to serve its
customers' increased needs for enterprise documents as opposed to
only project-related printing needs.

S&P views ARC's financial risk profile as "intermediate," based on
its expectation that leverage will be about 2.5x at the end of
2014.  The company generates roughly $30 million of discretionary
cash flow annually, which S&P expects the company to use primarily
for debt reduction.  The company has not bought back shares,
issued dividends, nor completed any acquisitions in the past few
years, and S&P do not expect that to change, at least over the
intermediate term.

S&P's initial analytical outcome ("anchor") is 'bb'.  S&P places
particular analytical emphasis on the continuing weakness in the
traditional reprographics segment, which at this point is still a
significant portion of ARC's revenue.  S&P views this structural
weakness in the context of slower structural decline for
mainstream printing firms, many of which have broader-based
businesses than ARC.  This comparison has a one-notch negative
effect, resulting in a corporate credit rating of 'BB-'.


ARCHDIOCESE OF MILWAUKEE: Creditors' Attys Press Church to Pay Up
-----------------------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
the lawyers of unsecured creditors, chiefly survivors of sexual
abuse, are asking the Archdiocese of Milwaukee to pay the bills
they incurred while working on the Chapter 11 bankruptcy case.

According to the report, citing papers filed by creditor lawyers,
court records show the archdiocese has stacked up more cash than
it projected back in January 2013, when it petitioned the
bankruptcy court to suspend monthly professional fee payments on
the grounds money was tight.  As of the end of June, the
archdiocese reported it had run up $5.8 million worth of fees,
court records show, the Journal said.

              About Archdiocese of Milwaukee

The Diocese of Milwaukee was established on Nov. 28, 1843, and
was elevated to an Archdiocese on Feb. 12, 1875, by Pope Pius
IX.  The region served by the Archdiocese consists of 4,758 square
miles in southeast Wisconsin which includes counties Dodge, Fond
du Lac, Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth,
Washington and Waukesha.  There are 657,519 registered Catholics
in the Region.

The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for
Chapter 11 bankruptcy protection (Bankr. E.D. Wis. Case No.
11-20059) on Jan. 4, 2011, to address claims over sexual abuse
by priests on minors.

The Archdiocese became at least the eighth Roman Catholic diocese
in the U.S. to file for bankruptcy to settle claims from current
and former parishioners who say they were sexually molested by
priests.

Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in
Milwaukee, Wisconsin, serves as the Archdiocese's counsel.  The
Official Committee of Unsecured Creditors in the bankruptcy case
has retained Pachulski Stang Ziehl & Jones LLP as its counsel, and
Howard, Solochek & Weber, S.C., as its local counsel.

The Archdiocese estimated assets and debts of $10 million to
$50 million in its Chapter 11 petition.


ASHER INVESTMENT: Has Until Sept. 16 to File Reorganization Plan
----------------------------------------------------------------
The Bankruptcy Court established Sept. 16, 2014, as the deadline
for Asher Investment Properties, LLC, to file a Plan of
Reorganization and explanatory Disclosure Statement.

The Court also set Sept. 30 at 10:00 a.m., as preliminary hearing
to review the adequacy of the Disclosure Statement.

The Court said that if a Disclosure Statement and a Plan have not
been timely filed, the Court may either dismiss or convert the
case at that time.  Furthermore, if a Disclosure Statement and
Plan have been filed and the Court determines that the Disclosure
Statement and Plan are not adequate, the Court may either dismiss
or convert the case at that time.

              About Asher Investment Properties, LLC

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


AURASOURCE INC: TAAD LLP Raises Going Concern Doubt
---------------------------------------------------
AuraSource, Inc., filed with the U.S. Securities and Exchange
Commission early this month its annual report on Form 10-K for the
fiscal year ended March 31, 2014.

TAAD LLP expressed substantial doubt about the Company's ability
to continue as a going concern, citing that the Company has
incurred significant losses from operations and has an accumulated
deficit of $10.94 million as of March 31, 2014.

The Company reported a net loss of $2.85 million on $454,820 of
total revenues for the fiscal year ended March 31, 2014, compared
with a net loss of $2.56 million on $nil of total revenues in
2013.

The Company's balance sheet at March 31, 2014, showed $1.91
million in total assets, $1.65 million in total liabilities, and
stockholders' equity of $258,383.

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

                       http://is.gd/du40Q8

AuraSource, Inc., a development stage company, focuses on the
development and production of industrial energy and feedstock used
for industrial applications. It develops hydrocarbon clean fuel
technologies, including AuraCoal clean coal technology to remove
sulfur and ash from coal pre-combustion; ultrafine grinding
technology, which uses a fluid shock wave to grind slurry
materials into ultrafine scale; and ultrafine separation that
separates various size particles with various densities in the
slurry. The company was founded in 1990 and is headquartered in
Chandler, Arizona.


BLACKBOARD INC: S&P Assigns 'B+' Rating on $968MM Secured Loans
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' issue-level
rating and '2' recovery rating to Washington, D.C.-based
educational technology company Blackboard Inc.'s proposed $868
million term loan B-4 and $100 million revolver.  The terms are
the same as those for its previous term loan B-3 and revolver
except that the new issues have lower pricing.  The '2' recovery
rating indicates S&P's expectations for a substantial recovery
(70%-90%) in the event of a payment default.

The corporate credit rating on Blackboard remains 'B' with a
stable outlook, reflecting the company's "fair" business risk
profile and "highly leveraged" financial risk profile.  S&P's
existing issue-level ratings are all unchanged by the proposed
transaction.

S&P's ratings on Blackboard reflect the company's fair business
position with a leading market position in a narrow business niche
in the fragmented and competitive educational technology market
aided by strong recurring revenue and high client retention.  The
high business risk reflects the company's high debt level with
limited drops in leverage expected in the near term.

RATINGS LIST

Blackboard Inc.
Corporate Credit Rating                B/Stable/--

New Rating

Blackboard Inc.
Senior Secured
$868 mil. term loan B-4                B+
  Recovery Rating                       2
$100 mil. revolver                     B+
  Recovery Rating                       2


BLOX INC: Morgan LLP Raises Going Concern Doubt
-----------------------------------------------
Blox, Inc., filed with the U.S. Securities and Exchange Commission
its annual report on Form 10-K for the fiscal year ended March 31,
2014.

Morgan LLP expressed substantial doubt about the Company's ability
to continue as a going concern, citing that the Company has
accumulated losses since inception and has a net working capital
deficiency.

The Company reported a net loss of $1.43 million on $759,036 of
net revenues for the fiscal year ended March 31, 2014, compared
with a net loss of $905,390 on $874,887 of net revenues in 2013.

The Company's balance sheet at March 31, 2014, showed
$2.13 million in total assets, $255,715 in total liabilities, and
stockholders' equity of $1.87 million.

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

                       http://is.gd/djJfTi

BLOX, Inc., formerly Nava Resources, Inc., is an exploration-stage
company formed for the purposes of acquiring, exploring, and if
warranted and feasible, developing natural resource properties.
The Company is a junior exploration company. The Company's two
claims cover 637.39 hectares (approximately 1575.03 acres) mineral
concession on Vancouver Island, in the Province of British
Columbia, Canada. These mineral claims are known as the North 1
and North 2 Claims. As of June 30, 2010, the North Claims were
without known reserves. On February 27, 2014, Blox Inc completed
its acquisition of International Eco Endeavors Corp.


BOWLMOR AMF: S&P Affirms 'B' Corp. Credit Rating; Outlook Stable
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Bowlmor AMF Corp., which is engaged in the
business of operating bowling centers in the U.S. and Mexico.  The
outlook is stable.

At the same time, S&P assigned the company subsidiary AMF Bowling
Centers Inc.'s proposed $430 million first-lien facility
(consisting of a $30 million revolver due 2019 and a $400 million
term loan due 2021) a 'B' issue-level rating, with a recovery
rating of '3', indicating S&P's expectation for meaningful (50% to
70%) recovery for lenders in the event of a payment default.

In addition, S&P affirmed the rating on Bowlmor's $265 million
senior secured credit facility (consisting of a $245 million term
loan due 2018 and a $20 million revolver due 2018) at 'B', with a
recovery rating of '3'.  S&P plans to withdraw the ratings on this
facility once repaid.

Bowlmor plans to use the proceeds from the $400 million term loan
and $200 million sale/leaseback transaction to repay its existing
first- and second-lien term loan balances, to acquire Brunswick's
retail bowling business, to pay transaction fees and expenses, and
to add cash to the balance sheet.

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

S&P's assessment of Bowlmor's business risk profile as "weak"
reflects the risks associated with the integration and
repositioning of the AMF operations and the newly acquired
Brunswick centers, and the secular challenges facing the bowling
center industry because of declining league participation, which
reduces multiweek commitments.  The decrease in league play places
greater reliance on impulse-driven open bowling and food and
beverage spending, which is more volatile and exposes Bowlmor to
increased competition from other forms of entertainment.  These
risks are tempered by the geographic diversity of the portfolio
and an experienced management team, with previous success in
turning around underperforming bowling assets.  Further, the
acquisition of Brunswick's centers will improve the scale of the
business by acquiring the next largest competitor in the bowling
industry with meaningful size and will expand the Bowlmor
footprint in existing key markets including California, Arizona,
Georgia, Colorado, and New Jersey.

S&P's assessment of Bowlmor's financial risk profile as "highly
leveraged" reflects the high debt levels (including operating
lease commitments), S&P's expectation for modest excess cash flow
generation because of the company's capital program to execute its
growth initiatives, and the majority ownership by private equity
sponsor, Cerberus Capital Management L.P, reflecting the
incentives that exist for financial sponsors to potentially
increase leverage.  S&P is forecasting an improvement in credit
metrics to the low-5x Standard & Poor's adjusted debt-to-EBITDA in
2015 from the high-5x in 2014 as a result of the sale/leaseback
transaction with iStar and the repayment of the current higher
cost debt that was put in place late last year.  S&P anticipates
the Brunswick transaction will close by the end of the first
fiscal quarter of 2015.


BRENNAN'S INC: New Orleans Restaurant Sold in $3 Million Deal
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Ronald Hof, the Chapter 7 trustee for Brennan's Inc.,
got final approval to sell the assets, including the restaurant's
name, to 417 Royal Street LLC under a contract that was worth $3
million, including $467,500 in cash.

According to the report, the sale included title to Brennan's
name, menus, recipes and restaurant memorabilia, along with
furniture, fixtures, and equipment.  The buyer had already
acquired the restaurant property at a foreclosure sale in May
2013, the report noted.

                        About Brennan's Inc.

Brennan's opened on Bourbon Street in the New Orleans French
Quarter in 1946 and moved in 1956 to a Royal Street mansion that
was built for the Banque de la Louisiane in the late 18th century.
The restaurant was a landmark and known as the place where Bananas
Foster was invented.

Brennan's Inc., the famed restaurant in the New Orleans French
Quarter, is being liquidated in Chapter 7 bankruptcy.  Creditors
including an affiliate of Sysco Corp. filed an involuntary
bankruptcy petition (Bankr. E.D. La. Case No. 13-bk-12985) on Oct.
28, 2013.  Brennan's didn't oppose the petition.  The bankruptcy
judge declared the restaurant a Chapter 7 bankrupt on Dec. 5,
2013.

Ronald Hof will serve as trustee unless creditors elect a trustee
of their own to liquidate the assets.

The almost 70-year-old restaurant was in the midst of intra-family
disputes.  Ted Brennan was removed as president in June.  He filed
an appeal in U.S. Court of Appeals in New Orleans seeking
reinstatement.


CALDERA PHARMACEUTICALS: Posts $5.4 Million Net Income in Q1
------------------------------------------------------------
Caldera Pharmaceuticals, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $5.42 million on $254,220 of sales for the three
months ended March 31, 2014, as compared with a net loss of
$766,343 on $237,414 of sales for the same period in 2013.

The Company's balance sheet at March 31, 2014, showed $6.48
million in total assets, $3.43 million in total liabilities,
$133,350 in convertible redeemable preferred stock and $2.91
million in total stockholders' equity.

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

                        http://is.gd/Jn0k7v

                           About Caldera

Based in Cambridge, Massachusetts, Caldera Pharmaceuticals, Inc.,
is a drug discovery and pharmaceutical services company that is
based on a proprietary x-ray fluorescence technology, called
XRpro(R).

Caldera Pharmaceuticals incurred a net loss applicable to common
stock of $5.88 million on $708,273 of sales for the year ended
Dec. 31, 2013, as compared with a net loss applicable to common
stock of $951,791 on $1.90 million of sales for the year ended
Dec. 31, 2012.  The Company's balance sheet at Dec. 31, 2013,
showed $1.68 million in total assets, $3.91 million in total
liabilities, $133,350 in convertible redeemable preferred stock,
and a $2.36 million total stockholders' deficit.


CAREFREE WILLOWS: Further Plan-Related Proceedings Stayed
---------------------------------------------------------
Bankruptcy Judge Mike K. Nakagawa ordered that all further
proceedings with respect to Carefree Willows, LLC's Fifth Amended
Plan of Reorganization, are stayed pending further Court order.

On July 16, 2014, the Court held a status conference in the
Debtor's bankruptcy proceeding.  The Court considered the
competing plans filed by the Debtor and by creditor AG/ICC Willows
Loan Owner, L.L.C.  At the status conference, counsel appeared on
behalf of the Debtor, well as for AG and for various guarantors of
a promissory note held by AG.

A good faith objection was raised by AG in connection with the
Debtor's proposed plan filed on June 4.

The Debtor's Plan provides that, upon confirmation, all property
of the estate of the Debtor will be re-vested in the Debtor which
will retain property as the Reorganized Debtor free and clear of
all claims and interests of the creditors.  A copy of the Fifth
Amended Plan is available for free at
http://bankrupt.com/misc/CAREFREEWILLOWS_1186_5plan.pdf

                    About Carefree Willows LLC

Carefree Willows LLC is the owner of a 300-unit senior housing
complex, located 3250 S. Town Center Drive, in Las Vegas,
Nevada.  Carefree Willows filed a Chapter 11 petition (Bankr. D.
Nev. Case No. 10-29932) on Oct. 22, 2010.  The Law Offices of Alan
R. Smith, in Reno, Nevada, serves as counsel to the Debtor.  The
Debtor disclosed $30,604,014 in assets and $36,531,244 in
liabilities as of the Chapter 11 filing.


CASCADE AG: Pivotal Solutions Terminated as Liquidating Agent
-------------------------------------------------------------
Bankruptcy Judge Karen A. Overstreet terminated and discharged
Pivotal Solutions, Inc., as liquidating agent in the Chapter 11
case of Cascade AG Services, Inc.

The Court also ordered that:

   1. PSI will terminate all billings for its services as
Liquidating Agent effective as of May 31, 2014.

   2. PSI will pay any unpaid invoices for goods or services it
has incurred while serving as Liquidating Agent and then deposit
all remaining funds held by it as Liquidating Agent into the
registry of the Court, to be held pending further order of the
Court.

   3. PSI will retain any records of the Debtor currently in its
possession pending further order of the Court.

   4. PSI will file its final report and accounting and
applications for compensation for itself and its professionals,
and provide notice thereof to all creditors and persons requesting
special notice.  The filing of the final report and accounting and
applications for compensation are without prejudice to Liquidating
Agent or its professionals' right to file further applications for
compensation or seek further relief from the Court.

Pivotal Solutions was appointed by the court on Sept. 9, 2013, to
close Cascade Ag's business and effect the sale of the Debtor's
inventory and equipment to Kruger Foods, Inc.

One PacificCoast Bank, a creditor, asked the Bankruptcy Court to
terminate and discharge the liquidating agent, telling the Court
that the June 24, 2014 auction of equipment sold to Colombia State
Bank and Washington Federal can be handled without the liquidating
agent. OPCB also states that the Debtor's remaining assets can be
disposed of without the liquidating agent.  The liquidating agent
held funds of approximately $938,000 as of April 1, 2014.

The liquidating agent did not object to OPCB's request.  Colombia
State Bank supported OPCB's request. provided that the liquidating
agent and its counsel file their fee applications with the Court.
Washington Federal's position is unclear.

Haller Farms objected to OPCB's request, stating that the effect
of granting OPCB's motion on shortened time would be to impair
Haller Farms' rights against the Liquidating Agent, the estate,
and the purchasers of the Debtor's assets, including Kruger Foods
Inc., OPCB, Columbia Bank, and Washington Federal.

Haller Farms is represented by Danial D. Pharris, Esq., at SPERRY
& EBBERSON, P.L.L.C.

In a separate filing, Kruger Foods, Inc., by its attorney Stephen
A. Burnham, of Campbell, Dille, Bernett & Smith PLLC, responded to
OPCB's motion, stating that the Court must deny the motion to
terminate the Liquidating Agent and enter an order directing the
liquidating agent to continue its Court-appointed capacity until
all acquired assets have been removed from the equipment yard and
delivered to the possession of Kruger and other purchasers.

Cairncross & Hempelmann, P.S., by and through its authorized
officer, John Rizzardi, responded to the motion, stating that the
Court should retain jurisdiction over the case until the U.S.
Trustee's office files a report and recommendation as to any other
assets or causes of action, scheduled or otherwise, that may be
available for creditors of the estate.  The report and
recommendation must be filed no later than Aug. 1, 2014, as the
two year anniversary date of the case is Aug. 13.

CH is an administrative claimant in the estate, having incurred a
substantial amount of professional fees that remain unpaid.
Portions of these fees have been allowed on an interim basis.

The Liquidating Agent supported OPCB's motion on the condition
that these protections contained in the Court's Sept. 9, 2013,
order are included in the order discharging the liquidating agent:

   1. the Liquidating Agent is discharged and released from any
potential claims pursuant to the sale order;

   2. the Court maintain jurisdiction of the sale order over all
issues regarding the liquidating agents' actions since
appointment;

   3. funds maintained by the Court to defend the Liquidating
Agent from any claims and pay liquidating agent and its counsel's
fees pursuant to the sale order.

Washington Federal, a creditor, also supported the Bank's motion
to terminate Liquidating Agent.

CH is represented by:

         John R. Rizzardi, Esq.
         CAIRNCROSS & HEMPELMANN, P.S.
         524 Second Avenue, Suite 500
         Seattle, WA 98104-2323
         Tel: (206) 587-0700
         Fax: (206) 587-2308
         E-mail: jrizzardi@cairncross.com

Washington Federal is represented by:

         Charles R. Ekberg, Esq.
         Gregory R. Fox, Esq.
         LANE POWELL PC
         1420 Fifth Avenue, Suite 4200
         P.O. Box 91302
         Seattle, WA 98111-9402
         Tel: (206) 223-7000
         Fax: (206) 223-7107

                  About Cascade AG Services, Inc.

Cascade AG Services, Inc., dba Pleasant Valley Farms, fdba
Mountain View Produce, Inc., fdba Staffanson Harvesting LLC, fdba
Sterling Investment Group, L.L.C., is a vegetable processing
company that processes Washington-grown cucumbers and cabbage into
pickles and sauerkraut.

Cascade AG filed for Chapter 11 bankruptcy (Bankr. W.D. Wash. Case
No. 12-18366) on Aug. 13, 2012.  In amended schedules, the Debtor
disclosed $25,522,648 in assets and $21,354,742 in liabilities as
of the Chapter 11 filing.

Lawyers at Cairncross & Hempelmann PS, in Seattle, serve as the
Debtor's counsel.  Clyde A. Hamstreet & Associates, LLC, is the
Debtor's chief restructuring officer and financial advisor.  The
petition was signed by Craig Staffanson, president.

The U.S. Trustee appointed seven creditors to the Official
Unsecured Creditors' Committee.  Lawrence R. Ream, Esq., at
Schwabe, Williamson & Wyatt PC, Seattle, represents the Committee
as counsel.

DIP lender One PacificCoast Bank, FSB, is represented by Brad T.
Summers, Esq., and David W. Criswell, Esq.

The Plan filed in the Debtor's case contemplates a $3.0 million
capital infusion.  Money contributed to fund the Plan will be used
to satisfy Administrative Expense Claims to the extent that those
Claims must be satisfied for Confirmation, unless there is
agreement with Holders of Administrative Expense Claims to defer
payment.


CATALENT PHARMA: S&P Puts 'B+' CCR on CreditWatch Positive
----------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B+' corporate
credit rating, 'BB-' senior secured issue-level rating, and 'B'
unsecured term loan ratings on pharmaceutical contract
manufacturer and drug development company Catalent Pharma
Solutions Inc. on CreditWatch with positive implications.

"The CreditWatch placements follow the company's announcement that
it has launched its road show for an IPO of common stock and our
belief that the company will use a portion of the proceeds to
reduce debt," said credit analyst Shannan Murphy.

"We will resolve our CreditWatch listing when more information
about the total amount of IPO proceeds raised and the application
of those proceeds becomes available.  We could raise the corporate
credit rating by one notch (to 'BB-') if the company is able to
reduce debt by $700 million from IPO proceeds.  Under this
scenario, we could revise our issue-level rating on the company's
senior secured term loan to 'BB' from 'BB-', reflecting a raised
corporate credit rating, and raise our issue-level rating on the
company's unsecured term loan to 'BB-' from 'B', reflecting the
raised corporate and improved recovery prospects for this debt due
to lower debt at this level," S&P said.


CLEARWATER PAPER: S&P Assigns 'BB' Rating on $300MM Sr. Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' issue-level
rating and '3' recovery rating to Spokane, Wash.-based Clearwater
Paper Corp.'s proposed $300 million senior notes due 2025.
According to the company, it expects to use the proceeds plus
available cash on hand to redeem its existing 7.125% senior notes.
The 'BB' corporate credit rating and positive outlook on the
company remain unchanged.

"The 'BB' corporate credit rating reflects our "fair" business
risk and "significant" financial risk assessments.  None of the
modifiers have an effect on the final rating. Clearwater is the
sixth-largest North American tissue manufacturer, with a leading
market position in the growing private-label tissue niche, which
we believe will prove less cyclical relative to the company's pulp
and paperboard segment.  We view Clearwater's customer
concentration to be high, with three national grocery chains
(including Kroger Co.) accounting for roughly one-quarter of all
sales.  The company holds a mid-tier market position as the fifth-
largest North American manufacturer of bleached paperboard.  While
we expect tissue paper and paperboard demand to be relatively
stable through the cycle, Clearwater's profitability is subject to
changes in volatile fiber, chemicals, natural gas, and
transportation costs.  The company's EBITDA margins are below that
of significantly larger branded tissue producers; however, they
are on average with those for the overall forest and paper
products industry.  A key consideration for our positive outlook
is that cash flow and leverage measures for 2014-2015 will be
strong for a significant financial risk assessment.  Furthermore,
we expect that leverage under a stress scenario, in which forecast
EBITDA declines more than 30%, would likely remain below 3.5x,"
S&P said.

Ratings List

Clearwater Paper Corp.
Corporate credit rating              BB/Positive/--

Clearwater Paper Corp.
Senior unsecured notes               BB
  Recovery rating                     3


CLOUDEEVA INC: Shareholder Objects to Payment to Creditors
----------------------------------------------------------
Bartronics Asia PTE Ltd., objected to several first-day motions
filed by Cloudeeva, Inc., and its debtor affiliate, and accused
Adesh Tagayi, the purported chief executive officer and chairman
of the Debtor, of fraudulently transferring its business and
diverting its receivables to a competing company under his direct
and indirect control, and commenced the bankruptcy proceedings to
delay being forcibly ousted from control of the Debtor until he
can finish siphoning off their only remaining valuable assets.

Bartronics, the majority shareholder of Debtor Cloudeeva, Inc., a
Florida corporation, objected to the Debtor's requests to make
disburse money to pay certain creditors.  Bartronics objected to
the Debtor's request to pay up to $1,226,054 on an interim basis,
and up to $1,451,256 on a final basis, to vendors deemed
"critical" to the Debtor's operations.  Bartronics asserted that
it is highly inappropriate and unwarranted for the Court to grant
open-ended permission for the Debtor, under current management, to
pay any debt to any vendor deemed "critical" in the exercise of
their unilaterial discretion.

Bartronics also objected to the Debtor's request to pay claims of
certain foreign creditors, pay cash under a factoring agreement,
and pay prepetition employee obligations, for the same reason as
Bartronics' objection to the request to pay critical vendors.

Bartronics is represented by:

         Richard M. Meth, Esq.
         FOX ROTHSCHILD LLP
         75 Eisenhower Parkway, Suite 200
         Roseland, NJ 07068
         Tel: 973-992-4800
         Email: rmeth@foxrothschild.com

            -- and --

         Daniel J. Saval, Esq.
         Mason C. Simpson, Esq.
         Shoshana B. Kaiser, Esq.
         BROWN RUDNICK LLP
         7 Times Square
         New York, NY 10036
         Tel: 212-209-4800
         Fax: 212-209-4801
         Email: dsaval@brownrudnick.com
                msimpson@brownrudnick.com
                skaiser@brownrudnick.com

                       About Cloudeeva, Inc.

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services.  The company provides information technology staffing
services to major clients and third party vendors in the United
States and India.  The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva, Inc., and its affiliates sought Chapter 11 bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton, New
Jersey, on July 21, 2014.

Cloudeeva estimated assets of at least $10 million and debt of
less than $10 million.  The company said only $209,000 is owing to
its lender Prestige Capital Corp. and more than $5.2 million is
owed for trade vendor payables.

The cases are assigned to Judge Kathryn C. Ferguson.  The Debtors
are seeking joint administration of their Chapter 11 cases for
procedural purposes.

The Debtors have tapped Lowenstein Sandler LLP as counsel, and
Kurtzman Carson Consultants LLC as claims and noticing agent.

According to the docket, the Debtors' exclusive right to file a
plan expires on Nov. 18, 2014.


CLOUDEEVA INC: Can Employ KCC as Claims & Noticing Agent
--------------------------------------------------------
Juge Kathryn C. Ferguson of the U.S. Bankruptcy Court for the
District of New Jersey authorized Cloudeeva, Inc., to employ
Kurtzman Carson Consultants LLC as claims and noticing agent.

By appointing KCC as the claims and noticing agent in these
Chapter 11 cases, the distribution of notices and the processing
of claims will be expedited, and the clerk's office will be
relieved of the administrative burden of processing what may be an
overwhelming number of claims.  Prior to the Petition Date, the
Debtors provided KCC with a retainer in the amount of $10,000.

                       About Cloudeeva, Inc.

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services.  The company provides information technology staffing
services to major clients and third party vendors in the United
States and India.  The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva, Inc., and its affiliates sought Chapter 11 bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton, New
Jersey, on July 21, 2014.

Cloudeeva estimated assets of at least $10 million and debt of
less than $10 million.  The company said only $209,000 is owing to
its lender Prestige Capital Corp. and more than $5.2 million is
owed for trade vendor payables.

The cases are assigned to Judge Kathryn C. Ferguson.  The Debtors
are seeking joint administration of their Chapter 11 cases for
procedural purposes.

The Debtors have tapped Lowenstein Sandler LLP as counsel, and
Kurtzman Carson Consultants LLC as claims and noticing agent.

According to the docket, the Debtors' exclusive right to file a
plan expires on Nov. 18, 2014.


COLLEGIATE ACADEMY: S&P Lowers ICR to 'B+' on Refunding Bonds
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its issuer credit
rating (ICR) to 'B+' from 'BB' on Colorado Educational and
Cultural Facilities Authority's series 2004 charter school revenue
refunding bonds, supported by Collegiate Academy Charter School
Building Corp. and issued for Collegiate Academy Charter School.
The outlook is negative.

"The lowered rating reflects our view of the significant
deterioration in the school's operations," said Standard & Poor's
credit analyst Carlotta Mills.

In addition, enrollment has dropped and management has been
volatile.  "The negative outlook indicates that while management
appears to have stabilized and the school has a plan in place for
fiscal improvement, enrollment and finances would have to improve
before we could consider revising the outlook to stable,"
continued Ms. Mills.

Debt as of the end of fiscal 2013 was $6.6 million.


COLOR STAR: Hearing on Cash Collateral Use Continued to Aug. 25
---------------------------------------------------------------
The Bankruptcy Court continued until Aug. 25, 2014, the hearing to
consider:

     i) Color Star Growers of Colorado, Inc., et al.'s motion for
interim and final orders authorizing use of cash collateral;

    ii) the motion of Regions Bank for relief from automatic stay
as to the Debtors' remaining assets constituting prepetition
collateral and their proceeds;

   iii) the Debtors' motion for Rule 2004 examination of Regions
Bank; and

    iv) the motion of the Official Committee of Unsecured
Creditors for examination under Bankruptcy Rule 2004 of Regions
Bank.

Regions Bank, acting for and on behalf of Regions and Comerica
Bank, secured creditors and parties-in-interest in the Debtors'
cases, requested for continuance of the July 14 hearing on the
Debtors' request to use cash collateral.

                      About Color Star

Color Star, a grower and wholesaler of flowers and nursery stock
with greenhouses and distribution centers in Colorado, Missouri
and Texas, filed for Chapter 11 bankruptcy protection in December
2013.

Color Star Growers of Colorado, Inc., and two affiliates filed
Chapter 11 bankruptcy petitions (Bankr. E.D. Tex. Case Nos.
13-42959 to 13-42961) on Dec. 15, 2013, in Sherman, Texas.  The
petitions were signed by Brad Walker, chief restructuring officer.
The Debtors estimated assets of at least $10 million and
liabilities of at least $50 million.

Marcus A. Helt, Esq., and Evan R. Baker, Esq., at Gardere Wynne
Sewell LLP, serve as the Debtors' counsel.  Simon, Ray & Winikka
LLP serves as special conflicts counsel.  SSG Advisors, LLC
provides investment banking services, and UpShot Services LLC
serves as claims, noticing and balloting agent.

The Official Committee of Unsecured Creditors appointed in the
Debtors' cases retained Gavin/Solmonese, LLC as financial
advisors; and Raymond J. Urbanik, Esq., Deborah M. Perry, Esq.,
Thomas Berghman, Esq., and Isaac J. Brown, Esq., at Munsch Hardt
Kopf & Harr, PC as attorneys.


COLOR STAR: NexBank Securities Withdraws Objection to Settlement
----------------------------------------------------------------
NexBank Securities, Inc., doing business as NexBank Capital
Advisors formerly known as Barrier Advisors, has withdrawn without
prejudice its objection to Color Star Growers of Colorado, Inc.,
et al's motion for approval of a compromise and settlement
pursuant to Bankruptcy Rule 9019.

As reported in the Troubled Company Reporter on July 11, 2014,
NexBank Securities asked the Court to deny approval of the
compromise and settlement of the Debtors' claims against their
prepetition lenders, Regions Bank, Comerica Bank, and MCG Capital
Corporation.

The Official Committee of Unsecured Creditors is also a party to
the global settlement.

As reported by the TCR on June 25, 2014, under the terms of the
proposed settlement, the Lenders will, among other things, allow
$750,000 of the Debtor's cash collateral to be used solely for
allowed administrative expenses.  In exchange, the Debtor will
provide full releases to the Lenders.

Barrier Advisors contends that the Debtors fail to articulate what
claims the Debtors have against the Lenders, the likelihood of
success on the merits of the claims, or the potential value to the
estates of the claims if they were to be pursued.  Barrier
believes that the reason this information is not disclosed in the
Debtors' Settlement Motion is because throughout the Chapter 11
cases, the discovery sought by the Debtors and the Committee has
been delayed, frustrated and stalled by the Lenders, in
particular, Regions.

The Debtors, according to Barrier, have not valued the claims that
they have against each of the Lenders, and cannot do so because,
upon information and belief, every effort by the Debtors and the
Committee to obtain reasonable discovery into the claims being
settled has been sidestepped by the Lenders.  The motions seeking
issuance of subpoenas for the Rule 2004 Examinations, and the
requests for court orders granting the examinations have been
continuously delayed and adjourned.

Barrier has served upon each of the Debtors, the Committee,
Regions and MCG Barrier a request to compel production and
disclosure of relevant information necessary to assess the facts
supporting the Settlement.  In addition, Barrier intends to issue
subpoenas, including to the Debtors and the Committee, seeking
testimony of their respective representatives and counsel at the
hearing on the Settlement Motion.

An evidentiary hearing on the Debtors' Settlement Motion was set
for July 18, 2014, at 10:00 a.m. (Central).  A hearing on
Barrier's motion requesting that the Court continue the hearing on
the Debtors' motion was previously set for July 3, 2014 at 9:30
a.m.

On July 2, 2014, Barrier asked the Court to continue the July 14
hearing until such time as the discovery requested by Barrier is
completed or at a minimum 60 days from the hearing on the
Settlement Motion.  To the extent the Court would deny that
request, Barrier asked the Court to conduct the July 14 hearing as
an evidentiary hearing so that the Court can consider evidence in
support of and in opposition to the Settlement Motion.

Regions Bank, as administrative agent acting for and on behalf of
Regions and Comerica Bank, secured creditors and parties-in-
interest, filed a reply to the objection to the Debtors' motion,
filed by NexBank to correct Barrier's characterization of the
standard for approval of the settlement under Bankruptcy Rule
9019.

In a separate filing, Bell Nunnally & Martin LLP and Nikki Gibson,
an attorney with BNM, filed a reservation of rights concerning the
Settlement Motion and withdrawal of witness and exhibit list in
connection with the Settlement Motion.  Prior to the Petition
Date, BNM represented the Debtors in connection with a loan
transaction with the Debtors' prepetition lenders.

Regions Bank is represented by:

         Jason B. Binford, Esq.
         George H. Barber, Esq.
         KANE RUSSELL COLEMAN & LOGAN PC
         3700 Thanksgiving Tower
         1601 Elm Street
         Dallas, TX 75201
         Tel: (214) 777-4200
         Fax: (214) 777-4299

                      About Color Star

Color Star, a grower and wholesaler of flowers and nursery stock
with greenhouses and distribution centers in Colorado, Missouri
and Texas, filed for Chapter 11 bankruptcy protection in December
2013.

Color Star Growers of Colorado, Inc., and two affiliates filed
Chapter 11 bankruptcy petitions (Bankr. E.D. Tex. Case Nos. 13-
42959 to 13-42961) on Dec. 15, 2013, in Sherman, Texas.  The
petitions were signed by Brad Walker, chief restructuring officer.
The Debtors estimated assets of at least $10 million and
liabilities of at least $50 million.

Marcus A. Helt, Esq., and Evan R. Baker, Esq., at Gardere Wynne
Sewell LLP, serve as the Debtors' counsel.  Simon, Ray & Winikka
LLP serves as special conflicts counsel.  SSG Advisors, LLC
provides investment banking services, and UpShot Services LLC
serves as claims, noticing and balloting agent.

The Official Committee of Unsecured Creditors appointed in the
Debtors' cases retained Gavin/Solmonese, LLC as financial
advisors; and Raymond J. Urbanik, Esq., Deborah M. Perry, Esq.,
Thomas Berghman, Esq., and Isaac J. Brown, Esq., at Munsch Hardt
Kopf & Harr, PC as attorneys.


CONDOR DEVELOPMENT: Sept. 23 Hearing on Confirmation of Plan
------------------------------------------------------------
The Bankruptcy Court will convene an evidentiary hearing on
Sept. 23, 2014, at 9:30 a.m., to consider the confirmation of
Condor Development, LLC, et al.'s Chapter 11 plan.

The Court directed the parties-in-interest in the Debtors' cases
to cooperate in exchanging relevant information and abide by these
deadlines:

   1. the Debtors must file an amended plan by Aug. 22;

   2. the parties will provide a list of all potential witnesses
      to opposing counsel by July 18;

   3. all discovery will be completed by Sept. 5;

   4. the parties will exchange their proposed exhibits by
      Sept. 9;

   5. the parties may file a brief setting forth their legal
      arguments and authorities by Sept. 12;

   6. the pretrial order is due by Sept. 12, if the party fails
      to timely file the pretrial order, the evidentiary hearing
      may be stricken;

   7. the moving party will confirm that the hearing is going
      forward not later than noon on Sept. 18, using the E-Docket
      Confirmation Process.

EastWest Bank, a secured and unsecured creditor in the case,
objected to the Debtors' Fourth Amended Joint Plan of
Reorganization.  EWB is the holder of three promissory notes
executed by Condor in favor of Washington First International Bank
in the total principal amount of $7,965,000.  EWB is the
successor-in-interest to Washington First International Bank under
the Purchase and Assumption Agreement Whole Bank between the
Federal Deposit Insurance Corporation as receiver for WFIB and
EWB.

Condor is in default under the promissory note dated Nov. 15,
2005, for failure to pay all outstanding indebtedness by March 31,
2012.  The principal amount of indebtedness owed to lender as of
the petition date is $785,957.  As of March 31, 2012, the total
loan balance owed to EWB under the First Note is no less than
$792,632.

According to EWB, the Debtors' Plan provided for the sale of the
properties after an appropriate period of marketing with a new
broker put in place by the Conservator that replaced the Debtors'
previous broker.  The Plan further provided that EWB would retain
its liens on the properties, with interest accruing at the rate of
Prime plus 1% per annum with a minimum rate of 5%.

EWB also stated that there is no basis to separately classify
EWB's deficiency claim.

EWB is represented by Brian T. Peterson, Esq., and David C. Neu,
Esq., at K&L GATES LLP.

Equity owners -- Michael J. Seibert as the conservator of the
estate of Joseph Ciaramella; and Laura Ciaramella (the Ciaramellas
being the sole members in Debtor Condor Development, LLC, and
together with Condor, a California general partnership in which
they are partners, the owners of Debtor Seattle Group, Ltd. --
stated in court papers they conditionally support confirmation of
the Debtors' Fourth Amended Plan.

The equity owners are represented by:

         Thomas N. Bucknell, Esq.
         Edwin K. Sato, Esq.
         BUCKNELL STEHLIK SATO & STUBNER, LLP
         2003 Western Avenue, Suite 400
         Seattle, WA 98121
         Tel: (206) 587-0144
         Fax: (206) 587-0277

As reported in the Troubled Company Reporter, the Debtors' Plan,
as amended, provides for full payment of all secured and priority
unsecured creditors and a distribution to unsecured creditors out
of quarterly payments of Net Cash Flow.  It also contemplates the
potential sale of substantially all of the Debtors' property used
in operating the Comfort Inns and Suites Hotel and relate property
after a sustained 12-36 month period of improved operations and a
period of removal of the Property from the market.

The Debtors' Owners have also agreed to make available to the
Hotel a $500,000 line of credit and a $100,000 equity contribution
for capital improvements during the period of operations subject
to approval of the Conservatorship Court.

Under the Second Amended Disclosure Statement, the Debtors
revealed that as of April 11, 2014, they had made payments to East
West Bank of over $691,000 since the Petition Date -- most of
which was paid by the Conservator who has made monthly payments of
$34,500 to secured lender East West Bank every month since
February 2013.  Despite these payments, East West Bank filed a
motion for relief from stay and an order was entered granting
relief from stay, but prohibiting East West bank from selling the
property located in SeaTac, Washington, until after July 31, 2014
-- the Conditional Stay Order -- in order to provide the Debtors
with the opportunity to obtain confirmation of the Plan.

A copy of the Debtors' April 11, 2014 Second Amended Disclosure
Statement is available for free at:

         http://bankrupt.com/misc/Condor_2ndAmdDS.PDF

                    About Condor Development

Condor Development LLC, aka Ciara Inn and Condor Management Group,
operates the Comfort Inn Suites, a hotel located at SeaTac,
Washington.

Condor Development filed a Chapter 11 petition (Bankr. W.D. Wash.
Case No. 12-13287) on March 30, 2012, in Seattle.  In its
schedules, the Debtor disclosed $16.4 million in total assets and
$9.11 million in total liabilities.

Affiliate Seattle Group also filed for Chapter 11 protection
(Bankr. Case No. 12-13263) on March 30, 2012.  The Debtor
disclosed $15,501,088 in assets and $10,409,935 in liabilities as
of the Chapter 11 filing.

Vortman & Feinstein and Larry B. Feinstein initially represented
the Debtors as counsel.  They later withdrew from the case and
were replaced by Lane Powell PC.  Mary Jo Heston, Esq., of Lane
Powell PC now serves as counsel to the Debtors.

Seattle Group, Ltd., and Condor Development LLC filed a plan of
liquidation that proposes the sale of substantially all of their
real and personal property used in operating the Comfort Inns and
Suites Hotel and related personal property.

In January 2013, the case was reassigned to Judge Timothy W. Dore.


CONSTELLATION ENTERPRISES: S&P Lowers CCR to 'B-'; Outlook Neg.
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Ohio-based Constellation Enterprises LLC to 'B-' from
'B'.  The outlook is negative.

At the same time, S&P lowered its issue-level rating on the
company's senior secured notes one notch to 'B-' from 'B'.  The
'4' recovery rating on the debt remains unchanged, indicating
S&P's expectation for average recovery (30%-50%) in the event of a
payment default.

"The downgrades reflect the continued weakness in the company's
EBITDA over the past several quarters and our expectation that its
2014 earnings will increase only modestly from the significantly
low 2013 levels," said Standard & Poor's credit analyst Carol Hom.
S&P forecasts that Constellation's credit metrics will remain weak
despite its expectations for modest improvement over the next 12-
18 months and that free operating cash flow generation will remain
limited.  S&P expects that the company will use its revolving
credit facility to make upcoming required interest payments on its
senior notes.  The company faces maturities in early 2016.

The outlook is negative.  S&P expects that Constellation's
operating performance will improve modestly, even though its
credit metrics will remain stretched for the rating.

S&P could lower the rating if it believes the level and pace of
improvement in the company's operating performance is not
sufficient to allow it to successfully refinance its capital
structure about a year in advance of its 2016 maturities.

S&P could revise the outlook to stable if Constellation's
operating prospects improve meaningfully and stabilize,
translating into significantly improved and sustainable credit
metrics.  For instance, S&P could revise the outlook to stable if
it expects total debt to EBITDA to fall below 6x and remain there,
if free cash flow remains positive, and if the company is able to
refinance its capital structure well in advance of maturities.


DETROIT, MI: Syncora's Appeals to Be Argued July 30
---------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the U.S. Court of Appeals for the Sixth Circuit will
hear arguments relating to the appeal of bond insurer Syncora
Guarantee Inc. from the bankruptcy judge's recent ruling on the
city of Detroit's access to casino revenues.

According to the report, on the same day, Syncora will argue its
pending appeal on Detroit's eligibility for bankruptcy protection.
Holding arguments in late July will enable the appeals court to
decide both questions before Detroit begins its 27-day plan-
confirmation hearing, which is set to begin Aug. 14, Mr. Rochelle
said.

The casino appeal is Syncora Guarantee Inc. v. City of Detroit,
14-1864, U.S. Court of Appeals for the Sixth Circuit.  The
district court case was Syncora Guarantee Inc. v. City of Detroit,
Michigan, 13-cv-14305, U.S. District Court, Eastern District
Michigan (Detroit).

                  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.


DEWEY & LEBOEUF: Operations Chief Says He Was Only an Employee
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Dennis D'Alessandro, who had the title chief
operating officer at Dewey & LeBoeuf LLP, said in his request for
dismissal of the criminal case against him that he can't be sued
for the bankrupt law firm's financial mismanagement because he was
only an employee and never "himself an insider."

According to the report, Mr. D'Alessandro said the COO title
wasn't official, simply one invented by the chairman who hired
him. He said because he "had no inherent authority" he wasn't an
insider, or someone who could influence or control the firm and
its decisions.

The D'Alessandro lawsuit is Jacobs v. D'Alessandro (In re Dewey &
LeBoeuf LLP), 14-01919, U.S. Bankruptcy Court, Southern District
New York (Manhattan).

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


DODGE CITY FARM: Case Summary & 10 Unsecured Creditors
------------------------------------------------------
Debtor: Dodge City Farm Supply, Inc.
        101 Hatchell Lane
        Denham Springs, LA 70726

Case No.: 14-10934

Chapter 11 Petition Date: July 25, 2014

Court: United States Bankruptcy Court
       Middle District of Louisiana (Baton Rouge)

Judge: Hon. Douglas D. Dodd

Debtor's Counsel: Gary K. McKenzie, Esq.
                  STEFFES, VINGIELLO & MCKENZIE, LLC
                  13702 Coursey Boulevard, Building 3
                  Baton Rouge, LA 70817
                  Tel: 225-751-1751
                  Fax: 225-751-1998
                  Email: gmckenzie@steffeslaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Jimmy B. Smith, Jr., president.

A list of the Debtor's 10 largest unsecured creditors is available
for free at http://bankrupt.com/misc/lamb14-10934.pdf


ELCOM HOTELS: Miami Condotel Ex-Owner Sues Partner Over $17M Loan
-----------------------------------------------------------------
Law360 reported that the largest shareholder of Miami hotel and
condominium development One Bal Harbour's bankrupt former owner
sued his ex-business partner, claiming he was fraudulently induced
to lend $17.45 million for the condotel that was never intended to
be repaid.  According to the report, Thomas Sullivan's F9
Investments LLC, formerly known as ANO LLC, sued his former
business partner Jorge Arevalo, claiming he fraudulently induced
him to lend money to buy the hotel, spa, restaurant and 51 hotel
units that Arevalo later mismanaged.

The case is F9 Investments LLC et al. v. Arevalo et al., case
number 2014-18733-CA, in the Eleventh Judicial Circuit Court of
Florida.

                       About Elcom Hotel

Elcom Hotel & Spa LLC and Elcom Condominium LLC sought Chapter 11
protection (Bankr. S.D. Fla. Case Nos. 13-10029 and 13-10031) on
Jan. 2, 2013, with plans to sell their hotel and condominium
property.

Elcom Condominium owns nine of the hotel condominium units at the
One Bal Harbor Resort & Spa.  The resort is located on five acres
of land in Bal Harbor, Florida.  The building and improvements
consist of 185 luxury residential condominium units and 124 hotel
condominium units.  Elcom Hotel owns the hotel lot.

Elcom Hotel disclosed $10,378,304 in assets and $20,010,226 in
liabilities as of the Chapter 11 filing.  The Debtor owes OBH
Funding, LLC, $1.8 million on a mortgage and F9 Properties, LLC,
formerly known as ANO, LLC, $9 million on a mezzanine loan secured
by a lien on the ownership interests in the project's owner.  OBH
Funding and ANO are owned by Thomas D. Sullivan, the manager of
the Debtors.

Corali Lopez-Castro, Esq., of Kozyak Tropin & Throckmorton, P.A.,
represent the Debtors as bankruptcy counsel.  Duane Morris LLP is
the special litigation, real estate, and hospitality counsel.
Algon Capital, LLC, d/b/a Algon Group's Troy Taylor is the
Debtors' chief restructuring officer.  Barry E. Mukamal and
Marcum, LLP, serve as accountants and financial advisors.  The
Barthet Firm is the special litigation collections counsel.  Barry
E. Somerstein and Greenspoon Marder Law serve as special real
estate counsel.

Elcom Hotel & Spa and Elcom Condominium have submitted a revised
disclosure statement filed in conjunction with the proposed
liquidating plan. The revised disclosure statement indicates that
unsecured creditors are still divided into two classes under the
Plan.  The Plan contemplates that holders of general unsecured
claims (expected to total $14 million to $79.1 million) will have
a recovery of 0% to 18%, which will be funded from the pro rata
distribution of "net free cash" and proceeds of causes of action
and remaining assets.  Holders of general unsecured vendor claims
(estimated at $500,000 to $971,000) -- those vendors who have
unsecured claims who agree to continue do business with the
Debtors -- will have a recovery of 50%, which will be funded from
the 50% distribution from "net free cash."

In December 2013, the Florida bankruptcy judge signed off on a
$13.4 million sale of the building's common areas to the
homeowners' association.  U.S. Bankruptcy Judge Robert A. Mark
approved the result of the auction in which the One Bal
Harbour residential association beat out an entity owned by Thomas
Sullivan, who is the largest shareholder of Elcom Hotel, and
stalking horse bidder Stoneleigh Capital LLC.

Judge Robert A. Mark of the U.S. Bankruptcy Court for the Southern
District of Florida, Miami Division, confirmed on Jan. 24, 2014,
the Revised First Amended Joint Plan of Liquidation of Elcom Hotel
after determining that the Plan satisfies the confirmation
requirements laid out in the Bankruptcy Code.


EPWORTH VILLA: Has Interim Authority to Use Cash Collateral
-----------------------------------------------------------
Judge Sarah A. Hall of the U.S. Bankruptcy Court for the Western
District of Oklahoma gave Central Oklahoma United Methodist
Retirement Facility, Inc., also known as Epworth Villa, interim
authority to use cash collateral securing its prepetition
indebtedness.

As of the Petition Date, the current, aggregate indebtedness of
Epworth Villa to the Oklahoma County Finance Authority under
certain mortgage notes is principal totaling $87,835,000, together
with accrued interest of $1,379,012, and accruing interest and
other charges.

Objections to the motion that have not been previously resolved or
withdrawn are overruled or deferred until the final hearing.
Samuel K. Crocker, U.S. Trustee for Region 8, complained that the
Debtor's motion is not supported by an affidavit of the Debtor's
management supporting the facts set forth in the motion and the
Debtor has not supplied a prospective interim or long term budget
setting forth projected income and expenditures.

The hearing for entry of a final order is scheduled for Aug. 11,
2014, at 1:30 p.m.  Objections are due on or before Aug. 7.

Central Oklahoma United Methodist Retirement Facility, Inc., dba
Epworth Villa, sought protection under Chapter 11 of the
Bankruptcy Code on July 18, 2014 (Case No. 14-12995, Bankr. W.D.
Okla.).  The case is before Judge Sarah A. Hall.

The Debtor's counsel is Brandon Craig Bickle, Esq., Sidney K.
Swinson, Esq., and Mark D.G. Sanders, Esq., at Gable & Gotwals,
P.C., in Tulsa, Oklahoma; and G. Blaine Schwabe, III, Esq., at
Gable & Gotwals, P.C., in Oklahoma City, Oklahoma.


EPWORTH VILLA: Seeks to Employ Steidley & Neal as Special Counsel
-----------------------------------------------------------------
Central Oklahoma United Methodist Retirement Facility, Inc., seeks
authority from the U.S. Bankruptcy Court for the Western District
of Oklahoma to employ Charles D. "Buddy" Neal, Jr., and Steidley &
Neal, PLLC, as special counsel.

Epworth Villa desires to employ Buddy Neal and his law firm to
prosecute Epworth Villa's appeal of the $15 million judgment
entered by the District Court of Oklahoma County, Oklahoma, in
Case No. CJ-2011-8387: William Hicks, individually and as Guardian
Ad Litem for Virginia Hicks v. Central Oklahoma United Methodist
Retirement Facility, Inc. d/b/a Epworth Villa Health Services.

Mr. Neal 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.

Central Oklahoma United Methodist Retirement Facility, Inc., dba
Epworth Villa, sought protection under Chapter 11 of the
Bankruptcy Code on July 18, 2014 (Case No. 14-12995, Bankr. W.D.
Okla.).  The case is before Judge Sarah A. Hall.

The Debtor's counsel is Brandon Craig Bickle, Esq., Sidney K.
Swinson, Esq., and Mark D.G. Sanders, Esq., at Gable & Gotwals,
P.C., in Tulsa, Oklahoma; and G. Blaine Schwabe, III, Esq., at
Gable & Gotwals, P.C., in Oklahoma City, Oklahoma.


EPWORTH VILLA: Wants Stay Lifted to Pursue Appeal in "Hicks" Suit
-----------------------------------------------------------------
Central Oklahoma United Methodist Retirement Facility, Inc., d/b/a
Epworth Villa, asks the U.S. Bankruptcy Court for the Western
District of Oklahoma to modify the automatic stay to permit a
federal court and a state court to enter written orders in a case
pending against the Debtor.

On July 9, 2014, a judgment was entered in the amount of
approximately $15 million against Epworth Villa by the District
Court of Oklahoma County, Oklahoma, in Case No. CJ-2011-8387:
William Hicks, individually and as Guardian Ad Litem for Virginia
Hicks v. Central Oklahoma United Methodist Retirement Facility,
Inc. d/b/a Epworth Villa Health Services.  Epworth Villa intends
to appeal the Judgment and Hicks desires to defend the appeal.

Central Oklahoma United Methodist Retirement Facility, Inc., dba
Epworth Villa, sought protection under Chapter 11 of the
Bankruptcy Code on July 18, 2014 (Case No. 14-12995, Bankr. W.D.
Okla.).  The case is before Judge Sarah A. Hall.

The Debtor's counsel is Brandon Craig Bickle, Esq., Sidney K.
Swinson, Esq., and Mark D.G. Sanders, Esq., at Gable & Gotwals,
P.C., in Tulsa, Oklahoma; and G. Blaine Schwabe, III, Esq., at
Gable & Gotwals, P.C., in Oklahoma City, Oklahoma.


EPWORTH VILLA: Section 341(a) Meeting Set on August 25
------------------------------------------------------
A meeting of creditors in the bankruptcy case of Central Oklahoma
United Methodist Retirement Facility, Inc., dba Epworth Villa,
will be held on Aug. 25, 2014, at 2:00 p.m. at 1st Floor, room
113, 215 Dean A. McGee Avenue, in Oklahoma City, Oklahoma.

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

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

Central Oklahoma United Methodist Retirement Facility, Inc.,
dba Epworth Villa, filed a Chapter 11 bankruptcy petition (Bankr.
W.D. Okla. Case No. 14-12995) on July 18, 2014.  John Harned
signed the petition as president and CEO.  The Debtor estimated
assets and liabilities of at least $100 million.  Gable & Gotwals,
P.C., serves as the Debtor's counsel.  Judge Sarah A. Hall
presides over the case.


ERF WIRELESS: IBC Funds Holds 9.9% Equity Stake
-----------------------------------------------
IBC Funds LLC disclosed in a Schedule 13G filed with the U.S.
Securities and Exchange Commission that as of April 25, 2014, it
beneficially owned 99,172 shares of common stock of ERF Wireless
representing 9.9 percent of the shares outstanding.  A full-text
copy of the regulatory filing is available at http://is.gd/xro6JF

                         About ERF Wireless

Based in League City, Texas, ERF Wireless, Inc., provides secure,
high-capacity wireless products and services to a broad spectrum
of customers in primarily underserved, rural and suburban parts of
the United States.

ERF Wireless reported a net loss attributable to the Company of
$7.26 million in 2013, a net loss attributable to the Company of
$4.81 million in 2012 and a net loss attributable to the Company
of $3.37 million in 2011.

The Company's balance sheet at March 31, 2014, showed $4.16
million in total assets, $11.97 million in total liabilities and a
$7.80 million total shareholders' deficit.


EXTERRAN HOLDINGS: S&P Cuts Rating on Sr. Unsecured Notes to 'BB-'
------------------------------------------------------------------
Standard & Poor's Ratings Services lowered its issue-level rating
on the company's 7.25% senior unsecured notes due Dec. 2018 to
'BB-' from 'BB', and removed it from CreditWatch negative, where
S&P placed it on Jan. 24, 2014.  At the same time, S&P revised its
recovery rating on the notes to '3' from '2'.  The outlook is
stable.

The downgrade of the issue-level rating on the unsecured notes and
removal of this rating from CreditWatch follow the company's
redemption of its 4.25% convertible notes, which makes the 7.25%
unsecured notes the most junior debt in the current capital
structure.  S&P also revised the recovery ratings on the senior
unsecured notes to '3' from '2', indicating meaningful (50% to
70%) recovery if a payment default occurs.  For companies rated
'BB-' or higher, recovery ratings on unsecured debt are generally
capped at '3' to account for the greater risk of recovery
prospects being impaired due to potential incremental debt
issuance before default.

"Standard & Poor's ratings on Exterran Holdings reflect our
assessment of a "weak" business profile, a "significant" financial
profile, and "strong" liquidity.  We categorize Exterran's
business profile as weak because of its exposure to natural gas
price volatility and its participation in the highly competitive
and cyclical oil and natural gas industry.  Our assessment also
incorporates Exterran's good business and geographic diversity.
The company provides natural gas compression services in North
America and several international markets.  About 35% of
Exterran's revenues and about 65% of gross profit came from its
contract compression business for the year ended Dec. 31, 2013,"
S&P said.

"We base the stable rating outlook on Exterran on our expectation
that the company will maintain improved operating results and
credit measures," said Standard & Poor's credit analyst Susan
Ding.

S&P would lower the ratings if leverage exceeded 4x for a
sustained period due to continued weakness in operating results
and EBITDA contraction.

S&P would consider an upgrade if the company's business profile
improved through increased scale, operating performance remained
positive, and the company consistently maintained "strong"
liquidity and a consolidated total debt to EBITDA ratio below
2.25x.


FISKER AUTOMOTIVE: Receives Few Objections to Plan Confirmation
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Fisker Automotive Inc., the defunct maker of hybrid
cars, received few new objections to the liquidating Chapter 11
plan.  According to the report, the U.S. Trustee and the Internal
Revenue Service were the only parties who filed new objections to
the Plan.  Fisker's preferred shareholders and plaintiffs in
securities class actions objected to the disclosure statement
explaining the Plan, over provisions that would give lawsuit
immunity to company officers and directors, the report related.

                     About Fisker Automotive

Fisker Automotive Holdings, Inc., developer of the Karma plug-in
hybrid electric sedan, filed a petition for Chapter 11 protection
(Bankr. D. Del. Case No. 13-13087) on Nov. 22, 2013.

Fisker estimated assets of more than $100 million and listed debt
of $500 million in its bankruptcy petition.  The assets include an
assembly plant purchased for $21 million from General Motors Corp.
The plant never operated.  The cars were assembled in Finland.

Fisker received a $529 million loan from the Department of
Energy's Advanced Technology Vehicles Manufacturing Loan Program
and drew down about $192 million before the department froze the
loan after Fisker failed to hit several development targets.  The
company defaulted on its loan in April 2013.

Bankruptcy Judge Kevin Gross presides over the case.  The Debtors
have tapped James H.M. Sprayregen, P.C., Esq., Anup Sathy, P.C.,
Esq., and Ryan Preston Dahl, Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, as co-counsel; Laura Davis Jones, Esq., James
E. O'Neill, Esq., and Peter J. Keane, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, as co-counsel;
Beilinson Advisory Group as restructuring advisors; and Rust
Consulting/Omni Bankruptcy, as notice and claims agent and
administrative advisor.

On Nov. 5, 2013, the Official Committee of Unsecured Creditors
was appointed. The members are: (a) David M. Cohen; (b) Sven
Etzelsberger; (c) Kuster Automotive Door Systems GmbH; (d) Magna
E-Car USA, LLC; (e) Supercars & More SRL; and (f) TK Holdings Inc.
The Committee is represented by William R. Baldiga, Esq., and
Sunni P. Beville, Esq., at Brown Rudnick LLP; and Mark Minuti,
Esq., at Saul Ewing LLP.  Emerald Capital Advisors Corp. is the
financial advisors for the Committee.

Fisker sought bankruptcy protection to pursue a private sale of
its business to Hybrid Tech Holdings, LLC.  The Committee,
however, wants a sale public sale, and has identified Wanxiang
America Corporation as stalking horse bidder.

Hybrid was initially under contract to buy Fisker in exchange for
$75 million of the $168.5 million government loan it acquired
immediately before the Debtor's Chapter 11 filing.  Hybrid later
raised its offer by adding an additional $1 million cash and
agreeing to share proceeds from the sale of a facility in Delaware
it doesn't intend to operate.  Hybrid also offered to pay real
estate taxes on the Delaware plant.  Hybrid also will waive $90
million in deficiency claims that otherwise would dilute unsecured
creditors' recovery.

Wanxiang, as stalking horse bidder, initially offered $25.8
million in cash.  However, Wanxiang has said it has raised its
offer by $10 million and is willing to go higher.

After the hearings on Jan. 10 and 13, the Court directed a public
auction, and capped Hybrid's credit bid to $25 million.

In response, Hybrid raised its offer to $55 million.

Hybrid is represented by Tobias Keller, Esq., and Peter
Benvenutti, Esq., at Keller & Benvenutti LLP, in San Francisco,
California.

Wanxiang, which bought A123 Systems, Inc., a manufacturer of
lithium-ion batteries used in electric vehicles such as the Fisker
Karma, in a bankruptcy auction early in 2013 for $256.6 million,
is represented in Fisker's case by Sidley Austin LLP's Bojan
Guzina, Esq., and Andrew F. O'Neill, Esq.; and Young Conaway
Stargatt & Taylor, LLP's Edmon L. Morton, Esq., Robert S. Brady,
Esq., and Kenneth J. Enos, Esq.

On Feb. 19, 2014, the Bankruptcy Court approved the sale of
Fisker's assets to Wanxiang America Corporation.  The sale closed
on March 24.  The sale to Wanxiang is valued at approximately $150
million, Fisker said in a news statement.

On March 27, 2014, the Court authorized Fisker Automotive Holdings
to change its name to FAH Liquidating Corp. and its affiliate,
Fisker Automotive Inc., to FA Liquidating Corp., following the
sale.


GENCO SHIPPING: OZ Management Holds Less Than 1% Equity Stake
-------------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, OZ Management LP and its affiliates disclosed
that as of July 9, 2014, they beneficially owned 4,396 shares of
common stock of Genco Shipping & Trading Limited representing
0.01 percent of the shares outstanding.  The reporting persons
previously owned 4,055,301 common shares or 9.12 percent equity
stake at April 23, 2014.

As a result of the cancellation of the Company's original common
stock pursuant to the Plan, the Reporting Persons no longer
beneficially own 5% or more of the Company's Original Common
Stock.

In connection with the bankruptcy of the Company and its
subsidiaries, and pursuant to the First Amended Prepackaged Plan
of Reorganization of the Debtors pursuant to Chapter 11 of the
Bankruptcy Code, confirmed by the United States Bankruptcy Court
for the Southern District of New York on July 2, 2014, as of the
Effective Date, the Reporting Persons received approximately .0886
Warrants for each share of Original Common Stock held by them.

A full-text copy of the regulatory filing is available at:

                         http://is.gd/B8gEbV

                   About Genco Shipping & Trading

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

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

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

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

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

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

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

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

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

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

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

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

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


GENERAL MOTORS: DBRS Rates Senior Unsecured Debt at 'BB'
--------------------------------------------------------
DBRS Inc. considers General Motor Financial Company, Inc.'s (GMF
or the Company) solid 2Q14 results as demonstrating the continuing
progress of the Company in developing a full product suite to
support General Motors Company (GM). For 2Q14, GMF originated a
record $5.2 billion of loans and leases. North American
penetration rate of GM leasing improved substantially to 28.6%
from 17.0% in the prior quarter.  Meanwhile, GMF's wholesale
lending penetration rate expanded 410 bps quarter-on-quarter (QoQ)
to 6.9%.  From DBRS's perspective, the improving penetration rates
illustrate the benefits of GMF's expanding suite of product
offerings to GM dealers.  With the introduction of a prime retail
lending product in 2Q14, GMF has a full suite of products.  While
DBRS expects that prime lending volumes will grow modestly at
first, ultimately, DBRS sees penetration rates improving across
all products, especially in dealer floorplan lending.

For the quarter, GMF generated pre-tax income of $265 million, a
19% improvement from 1Q14.  Growth in average earning assets and
improving margins resulted in a 5% expansion in DBRS-calculated
net financing revenue to $587 million.  Loan yields were lower,
reflecting the continuing shift in the portfolio mix to higher
quality loans.  However, higher leasing volumes and stable funding
costs underpinned an 80 bps QoQ improvement in DBRS-calculated net
finance margin to 6.5%.

Operating expenses were 4% higher QoQ at $280 million, reflecting
continuing infrastructure investment and headcount increase to
support the expansion of the leasing business and the anticipated
launch of the retail prime lending product.  As a percentage of
average earning assets, operating efficiency was stable
sequentially at 3.1%.  DBRS expects over the medium-term that
operating efficiency will improve as origination volumes in the
new products grow and the platforms achieve the appropriate scale.

GMF's balance sheet strength remains solid supported by good
liquidity, an improving funding profile and sound capital levels.
During 2Q14, GMF continued to diversify its funding sources,
completing its first U.S. lease securitization, and issuing a CAD
400 million senior note.  Subsequent to quarter end, GMF issued
$1.5 billion of senior notes as well as priced a German retail
loan securitization.  As a result, pro-forma to the issuances
after quarter end, 26% of total funding was comprised of unsecured
debt compared to 14% at year-end 2012.  Liquidity was solid with
$4.8 billion available at quarter end comprised of cash, borrowing
capacity on eligible assets and borrowing capacity on unsecured
lines of credit.

Regarding capital, GMF's tangible common equity-to-tangible assets
(TCE ratio) ratio was a sound 13.2% at quarter-end, and still at
the higher end of the peer group.  Leverage (earning assets-to-
tangible net worth) was 6.9x, near the mid-point of the Company's
target range of 6.0x - 8.0x.

DBRS rates GMF's Issuer and Senior Unsecured Debt at BB (high)
with a Stable trend.


GENERAL MOTORS: Won't Waive Bankruptcy Shield in Switch Suits
-------------------------------------------------------------
Todd Spangler and Nathan Bomey, writing for Detroit Free Press,
reported that amid calls for his firing for his department's role
in not revealing a safety defect linked to 13 deaths, General
Motors' top lawyer said the company won't waive its bankruptcy
protection from court claims linked to millions of defective
vehicles.  According to the report, GM's general counsel, Michael
Millikin, told a U.S. Senate panel that it will only agree to pay
claims processed through a fund created by the automaker and run
by compensation expert Ken Feinberg.  For other claims connected
to the ignition from before its bankruptcy, GM plans to invoke it
liability shield, Millikin said, the report related.

Millikin also said GM will not unseal earlier legal settlements
linked to the defect or release documents made available to former
U.S. Attorney Anton Valukas as part of an internal investigation
into the recall, even as Sen. Claire McCaskill, D-Mo., chairwoman
of the Senate Consumer Protection subcommittee, wondered why he
hadn't been fired, the report further 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 AVIATION: Objections to Payment of Healthcare Claims Filed
-----------------------------------------------------------------
BankruptcyData reported that the Air Line Pilots Association,
International (AFL-CIO) filed with the U.S. Bankruptcy Court an
objection to Global Aviation Holdings' motion for entry of an
order approving the disbursement of funds allocated to pay
healthcare claims.

BData related that the objection asserts, "The Air Line Pilots
Association, International ('ALPA'), objects to the Motion because
the Debtors' proposed disbursement fails to provide for unpaid
medical claims for NAA pilots that were incurred on or after March
31, 2014 and also fails to provide for NAA pilot losses arising
from Debtors' termination of other insurance plans, such as long-
term disability. It would be inequitable, as Debtors propose, to
pay in full employees whose unpaid medical claims arose before
March 31, 2014 (and to pay the one employee not paid in full
almost all of the remaining fund amounts), while paying zero to
employees whose unpaid medical claims happened to arise on or
after March 31, 2014 or whose losses stem from Debtors'
termination of insurance plans other than the medical plan. ALPA
does not seek any additional monies for disbursement, only that
the disbursement be expanded to cover these additional claims. In
the alternative, if the Court declines to order Debtors to include
in the proposed disbursement NAA pilots whose unpaid medical
claims arose on or after March 31, 2014 or who have unpaid claims
arising from the termination of other insurance plans, ALPA
proposes that the Court issue an order providing that after the
case has converted to a Chapter 7, the Chapter 7 Trustee must pay
such claims, if allowed, as the first claims paid out of the
segregated account and must make such payments as monies to pay
such claims become available in the Segregated Account."

               About Global Aviation Holdings

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

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

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

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

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

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

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

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


GOLDEN PARK: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Golden Park Estates, LLC
        a New Mexico limited liability company
        c/o Rita Pilate, Managing Member
        11 Wild Azalea Lane
        Skillman, NJ 08558

Case No.: 14-12253

Chapter 11 Petition Date: July 25, 2014

Court: United States Bankruptcy Court
       New Mexico (Albuquerque)

Judge: Hon. David T. Thuma

Debtor's Counsel: Chris W Pierce, Esq.
                  HUNT & DAVIS, P.C.
                  2632 Mesilla St. NE
                  Albuquerque, NM 87110
                  Tel: 505-881-3191
                  Fax: 505-881-4255
                  Email: chris@huntdavislaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Rita Pilate, managing member of Debtor
LLC.

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


GREEN MOUNTAIN: Files Bare-Bones Chapter 11 Petition
----------------------------------------------------
Green Mountain Management, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ga. Case No. 14-64287) on July 25, 2014,
without stating a reason.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due Nov. 24, 2014.

The Debtor estimated $10 million to $50 million in assets and
debt.  Georgia Flattop Partners, LLC is the managing member and
holders of 93% of the stock.

Daniel B. Cowart, chairman of the company, signed the bankruptcy
petition.

The case is assigned to Judge Barbara Ellis-Monro.

The Debtor is represented by Sage M. Sigler, Esq., at Alston &
Bird, LLP, in Atlanta.


HAWAII OUTDOORS: Gets 15th Interim Order to Use Cash Collateral
---------------------------------------------------------------
David C. Farmer, as Chapter 11 trustee for Hawaii Outdoor Tours
Inc., obtained a 15th interim order from the Hon. Robert J. Faris
of the U.S. Bankruptcy Court for the District of Hawaii to use
cash collateral of First-Citizens Bank & Trust Company.

As reported in the Troubled Company Reporter on April 10, 2014,
First-Citizens Bank asserts secured claims and an unsecured claim
in the amount of $5,500,000 and a superpriority claim that it will
seek to have partially paid as a distribution from the unsecured
creditor fund, subject to further court order.  The trustee will
use the cash collateral to administer the liquidation of the
bankruptcy estate and wind down the affairs of Debtor.

                    About Hawaii Outdoor Tours

Hawaii Outdoor Tours, Inc., operator of the Naniloa Volcanoes
Resort in Hilo, Hawaii, filed a Chapter 11 petition (Bankr. D.
Haw. Case No. 12-02279) in Honolulu on Nov. 20, 2012.  Naniloa
Volcanoes is a 382-room hotel with a nine-hole golf course.  The
64-acre property is subject to a 65-year lease, commencing Feb. 1,
2006, and provides for a total ground rent for the first 10 years
of $500,000 annually.  The Debtor used a $10 million loan from
First Regional Bank and $10 million of its own cash to invest in
the property.

First-Citizens Bank & Trust Company, which acquired the First
Regional note from the Federal Deposit Insurance Corp., commenced
foreclosure proceedings in August.  First-Citizens Bank asserts a
claim of $9.95 million.  The Debtor believes that the value of the
hotel property exceeds the amount of the First-Citizens Bank note.
Just the bricks and mortar alone was valued in excess of
$35 million by First Regional's appraiser and the insurance
company.

Bankruptcy Judge Robert J. Faris oversees the case.  Ramon J.
Ferrer, Esq., represents the Debtor as counsel.

In its schedules, the Debtor disclosed $52,492,891 in assets and
$11,756,697 in liabilities.  The petition was signed by CEO
Kenneth Fujiyama.

Ted N. Petitt, Esq., represents secured creditor First-Citizens
Bank as counsel.  Cynthia M. Johiro, Esq., represents the State of
Hawaii Department of Taxation as counsel.

Timothy J. Hogan, Esq., represents David C. Farmer, the Chapter 11
Trustee, as counsel.

Christopher J. Muzzi, Esq., at Tsugawa Biehl Lau & Muzzi, LLLC,
represents the Official Committee of Unsecured Creditors as
counsel.

The Bankruptcy Court, in the minutes of the hearing held Nov. 12,
2013, authorized the Chapter 11 trustee to sell hotel, assets and
assignments to the highest bidder.

Ken Direction Corporation, the parent company of Hawaii Outdoor
Tours, Inc., filed with the U.S. Bankruptcy Court for the District
of Hawaii on Nov. 5, 2013, a disclosure statement explaining its
proposed plan of reorganization for the Debtor, dated Nov. 4,
2013.  According to the Disclosure Statement, the source of about
$14,000,000 in new funds will be the proceeds from the sale of
real estate owned by HPAC, LLC, an affiliated company of the
Proponent, to Shalom Amar Revocable Trust 2000 by way of a 1031
exchange.tion as counsel.

Timothy J. Hogan, Esq., represents David C. Farmer, the Chapter 11
Trustee, as counsel.

Christopher J. Muzzi, Esq., at Tsugawa Biehl Lau & Muzzi, LLLC,
represents the Official Committee of Unsecured Creditors as
counsel.

The Bankruptcy Court, in the minutes of the hearing held Nov. 12,
2013, authorized the Chapter 11 trustee to sell hotel, assets and
assignments to the highest bidder.

Ken Direction Corporation, the parent company of Hawaii Outdoor
Tours, Inc., filed with the U.S. Bankruptcy Court for the District
of Hawaii on Nov. 5, 2013, a disclosure statement explaining its
proposed plan of reorganization for the Debtor, dated Nov. 4,
2013.  According to the Disclosure Statement, the source of about
$14,000,000 in new funds will be the proceeds from the sale of
real estate owned by HPAC, LLC, an affiliated company of the
Proponent, to Shalom Amar Revocable Trust 2000 by way of a 1031
exchange.


HAYDEL PROPERTIES: Court Denies Peoples Bank's Dismissal Motion
--------------------------------------------------------------
The Hon. Katharine M. Samson of the U.S. Bankruptcy Court for the
Southern District of Mississippi has denied The Peoples Bank,
Biloxi Mississippi's motion to dismiss Haydel Properties, L.P.'s
bankruptcy case.  The Creditor and the Debtor have resolved their
dispute.

The Court also authorized the Debtor to execute the loan and
security documents, as well as any other reasonable and customary
documents necessary to complete the financing contemplated by the
Creditor and the Debtor.  A copy of the documents is available for
free at:

  http://bankrupt.com/misc/HAYDELPROPERTIES_531_dismissalord.pdf

As reported by the Troubled Company Reporter on June 27, 2014, the
Creditor sought the dismissal of the Debtor's case, accusing the
Debtor of engaging in a pattern of delay, and unreasonable refusal
to execute upon the Debtor's obligations owed to the Creditor
pursuant to the Plan of Reorganization which was approved Aug. 23,
2013.  The Debtor, however, urged the Court to reject the
Creditor's dismissal request, saying that the Creditor is
demanding that the Debtor give the Creditor a better lien position
by requiring that all properties secured by the multiple deeds of
trust held by the Creditor secure the entire obligation of the
Creditor on the its modified claim.  The Debtor contended it is
within its rights to refuse to succumb to the demands made by the
Creditor.  The Court on July 8, 2014, scheduled a hearing for June
19, 2014, on the dismissal motion.

Termination of Stay

On June 26, 2014, the automatic stay as to BancorpSouth Bank, the
indebtedness owed under the terms of the notes and deed of trust
at issue, and the subject properties has been terminated and
lifted.

The TCR reported on July 1, 2014, that BancorpSouth Bank notified
the Court that the Debtor and Gerald W. Haydel were in default to
the Court order dated April 8, 2014.  BancorpSouth Bank said that
the Debtors failed to make timely payments to the bank as stated
in the order.  BancorpSouth Bank also notified the Court that it
intended to seek relief from the automatic stay and undertake
appropriate foreclosure proceedings or other action.

On April 8, 2014, the Court ordered the Debtor to make timely
payments to BancorpSouth Bank.

                    About Haydel Properties LP

Haydel Properties LP, based in Biloxi, Mississippi, filed for
Chapter 11 bankruptcy (Bankr. S.D. Miss. Case No. 12-50048) on
Jan. 11, 2012.  Judge Katharine M. Samson presides over the case.
Christy Pickering serves as accountant.  The Debtor disclosed
$11.7 million in assets and $6.8 million in liabilities as of the
Chapter 11 filing.

The Debtor is represented by Robert Gambrell, Esq., at Gambrell &
Associates, PLLC, and Patrick A. Sheehan, at Sheehan & Johnson,
PLLC.

The Debtor won confirmation of its First Amended Plan of
Reorganization.  The Plan was conceived by management as an
alternative to the more drastic measures available for
restructuring the Company's debt, such as total liquidation of
equipment and properties.  The Debtor will continue to operate the
rental business and market numerous parcels of real property.


HDOS ENTERPRISES: To Hold Auction of All Assets Today
-----------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
entered an order:

   i) approving bid procedures in connection with sale of
substantially all of HDOS Enterprises' assets;

  ii) establishing notice of bid procedures relating to the sale;

iii) approving an asset purchase agreement with Global Franchise
Group, LLC, as stalking horse bidder; and

  iv) approving a sale schedule, as modified by the amendment to
bid procedures motion.

The auction will be conducted on July 29, 2014, starting at
9:00 a.m., at the offices of Friedman Law Group, P.C., 1900 Avenue
of the Stars, 11th Floor, Los Angeles, California.

Qualified bids were due July 23.

The Debtor said in court papers it would provide parties
interested in acquiring the assets, with reasonable access to its
books and records, already available in the data room established
by the Debtor's financial consultants, Scouler & Company, LLC,
well as to its facilities, key personnel, officers, independent
accountants and legal counsel for the purpose of conducting due
diligence.

Global Franchise, as the stalking horse bidder, will be entitled
to a break-up fee of $550,000 in the event of a consummation of an
alternative transaction.  Global Franchise will be permitted to
credit bid its break-up fee.  The valuation of Global Franchise's
bid consists of (1) $12,200,000 in cash, plus (2) the rent credit
in cash, plus (3) assumption of the assumed liabilities.

The hearing to consider approval of the sale will be held Aug. 6,
at 2:00 p.m.

On July 10, the Debtor submitted an amendment to its bid
procedures motion, which sought to modify and clarify the relief
requested.  The Debtor initially requested that the Court enter an
order authorizing the Debtor to conduct an auction for the sale of
substantially all of the assets of the Debtor's Chapter 11 estate.
The motion was based on what the Debtor and its counsel believed
to be a definitive agreement with LB Advisors, LLC, or its
designee.  The LB APA, and the parties' understanding contemplated
an auction in which LB Advisors was to be the stalking horse
bidder, and in consideration for playing that role, LB Advisors
was to be entitled to certain overbid protections including a
break-up fee.

After several attempts among the Debtor, the Unsecured Creditors
Committee and LB Advisors to bridge the misunderstanding, it has
become evident that there is no deal with LB Advisors that is
acceptable to the Debtor.

The Debtor, with the consent of the Committee, sought Court
approval of sale procedures pursuant to which Global Franchise
will be the stalking horse bidder.

A copy of the Amended Motion is available for free at
http://bankrupt.com/misc/HDOSENTERPRISES_409_saleamendment.pdf

Before being named as lead bidder, Global Franchise filed a
limited objection to the sale motion, stating that the Debtor's
valuation is fundamentally flawed and presented material obstacles
to all other prospective bidders to meaningfully participate and
bid at the contemplated auction.

On June 5, Global Franchise submitted a letter of intent for the
purchase of the Debtor's assets.  Global Franchise is prepared to
pay the estate $11 million in cash at closing, which is more than
enough to pay all creditors in full in the case and provide a
substantial distribution to equity holders.  In addition, Global
Franchise is prepared to assume substantial liabilities and pay a
royalty of no less than $1 million to the Debtor's equity holders,
with additional upside depending on post-sale performance.

Although this was and is the highest and best bid for the Debtor's
assets, the Debtor determined to designate LB Advisors as the
stalking horse bidder for its assets.  Unlike Global Franchise's
bid for the Debtor's assets, LB Advisors seeks to purchase the
assets through a combination of a significantly lower cash amount
than Global Franchise is willing to pay, 15% of the equity in the
buyer entity, and a warrant for an additional 10% of the equity in
the buyer entity.  Global Franchise said the Debtor erroneously
valued the equity component of LB Advisors' bid at $6 million.

Global Franchise was authorized to file under seal its limited
objection.

Landlords affiliated with General Growth Properties, lessors of
the Debtor with respect to thirteen restaurant locations, objected
to the sale motion, stating that the bid and sale procedures
motion fails to provide adequate and complete procedures with
respect to the assumption and assignment of Debtor's leases as
part of the proposed sale of assets, which among other things,
potentially leave landlords with inadequate time to respond to
critical issues relating to adequate assurance of future
performance by the proposed assignee of Debtor's leases and fail
to address the "cure" of existing lease defaults required by
Bankruptcy Code Section 365.

Rouse Properties Inc. joined in the objection of the Macerich
Company, Westfield, LLC, Starwood Retail Partners LLC, and Vintage
Capital Group to the sale motion of the Debtors.

Rouse is the owner or managing agent for the owners of numerous
shopping centers located throughout the United States. The Debtor
leases retail space from Rouse pursuant to written leases at
locations in the NewPark Mall in Newark, California; the Southland
Mall in Southland, California; and the West Valley Mall in Tracy,
California.

Global Franchise Group, LLC is represented by:

         David M. Guess, Esq.
         KLEE, TUCHIN, BOGDANOFF & STERN LLP
         1999 Avenue of the star, Thirty-Ninth Floor
         Los Angeles, CA 90067
         Tel: (310) 407-4000
         Fax: (310) 407-9090
         E-mail: dguess@ktbslaw.com

The Debtor is represented by:

         J. Bennett Friedman, Esq.
         Stephen F. Biegenzahn, Esq.
         Rachel A. Franzoia
         FRIEDMAN LAW GROUP, P.C.
         1900 Avenue of the Stars, 11th Floor
         Los Angeles, CA 90067-4301
         Tel: (310) 552-8210
         Fax: (310) 733-5442
         E-mails: jfriedman@flg-law.com
                  sbiegenzahn@flg-law.com
                  rfranzoia@flg-law.com

General Growth Landlords are represented by:

        William W. Huckins, Esq.
        Ivan M. Gold, Esq.
        Thor D. Mclaughlin, Esq.
        ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP
        Three Embarcadero Center, 12th Floor
        San Francisco, CA 94111-4074
        Tel: (415) 837-1515
        Fax: (415) 837-1516
        E-mails: whuckins@allenmatkins.com
                 igold@allenmatkins.com
                 tmclaughlin@allenmatkins.com

Rouse Properties Inc. is represented by:

         Eric R. Wilson, Esq.
         Robert L. LeHane, Esq.
         KELLEY DRYE & WARREN LLP
         101 Park Avenue
         New York, NY 10178
         Tel: (212)808-7800
         Fax: (212) 808-7897

                     About Hot Dog On A Stick

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

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

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

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


HOWREY LLP: Jones Day, Seyfarth Can't Escape Judge Montali
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports law firms Jones Day LP and Seyfarth Shaw LLP were unable
to extricate themselves from the clutches of U.S. Bankruptcy Judge
Dennis Montali in disputes over profits made winding up matters
they took over when Howrey LLP went out of business and into
bankruptcy.

According to to the report, the suits involve the 1984 Jewel
doctrine where an intermediate California state appellate court
said profit earned after a law firm's dissolution belonged to the
"old" firm, not to a newly formed firm that completed the work.
Jones Day and Seyfarth have asked U.S. District Judge Saundra
Brown Armstrong in San Francisco to take the two Howrey suits
away from Judge Montali in San Francisco as the judge, who has
presided over three law-firm bankruptcies, has declared Jewel good
law.

Judge Armstrong, however, said the suits properly belong in Judge
Montali's court, though perhaps they should go to district court
if there's a trial, the report related.

                         About Howrey LLP

Three creditors filed an involuntary Chapter 7 petition (Bankr.
N.D. Cal. Case No. 11-31376) on April 11, 2011, against the
remnants of the Washington-based law firm Howrey LLP.  The filing
was in San Francisco, where the firm had an office.  The firm
previously was known as Howrey & Simon and Howrey Simon Arnold &
White LLP.  The firm at one time had more than 700 lawyers in 17
offices.  The partners voted to dissolve in March 2011.

The firm specialized in antitrust and intellectual-property
matters.  The three creditors filing the involuntary petition
together have $36,600 in claims, according to their petition.

The involuntary chapter 7 petition was converted to a chapter 11
case in June 2011 at the request of the firm.  In its schedules
filed in July, the Debtor disclosed assets of $138.7 million and
liabilities of $107.0 million.

Representing Citibank, the firm's largest creditor, is Kelley
Cornish, Esq., a partner at Paul, Weiss, Rifkind, Wharton &
Garrison.  Representing Howrey is H. Jason Gold, Esq., a partner
at Wiley Rein.

The Official Committee of Unsecured Creditors is represented in
the case by Bradford F. Englander, Esq., at Whiteford, Taylor And
Preston LLP.

In September 2011, Citibank sought conversion of the Debtor's case
to Chapter 7 or, in the alternative, appointment of a Chapter 11
Trustee.  The Court entered an order appointing a Chapter 11
Trustee. In October 2011, Allan B. Diamond was named as Trustee.
He is represented by Andrew Baxter Ryan, Esq., and Stephen Todd
Loden, Esq., at Diamond McCarthy LLP as counsel.


HRK HOLDINGS: Seeks Sept. 7 Extension to File Chapter 11 Plan
-------------------------------------------------------------
HRK Holdings LLC and HRK Industries LLC ask the U.S. Bankruptcy
Court in Tampa, Florida, to extend their exclusive periods to file
a Chapter 11 plan and explanatory disclosure statement by 60 days,
through and including Sept. 7, 2014.

The Debtors said they are not seeking a further extension of the
exclusive period to file a Plan.

HRK Holdings and HRK Industries previously sought an additional 45
days to file their Chapter 11 Plan and Disclosure Statement.  The
Hon. K. Rodney May granted an extension of the Plan filing
deadline to July 9, 2014.  In seeking an extension through July 9,
the Debtors said that, in order to maximize sale proceeds, they
must engage in a marketing plan which will likely include a real
estate brokerage firm.  The Debtors also need time to negotiate
with Regions Bank and the Florida Department of Environmental
Protection regarding relief and resources consistent with the
needed marketing plan.

In the present request, which was filed July 8, the Debtors noted
that the current maturity date of their DIP loan facilities is
Aug. 31.  The Debtors said they need more time to negotiate with
Regions Bank regarding extensions of the maturity date and funding
under the DIP loans.

The Debtors also wish to sell a portion of their acreage in order
to pay creditors.  Cushman & Wakefield of Florida Inc., has been
tapped as the Debtors' brokers.  The Debtors intend to file
motions to sell additional parcels of real property on or about
the first of September 2014.  The Debtors intend to file their
bankruptcy-exit plan in conjunction with the sale strategy.

On the Petition Date, Holdings owned roughly 675 contiguous acres
of real property in Manatee County, Florida.  Roughly 350 acres of
the property accommodates a phosphogypsum stack system, a portion
of which was used as an alternate disposal area for the management
of dredge materials pursuant to a contract with Port Manatee, and
as authorized under an administrative agreement with the Florida
Department of Environmental Protection.  The remaining acres of
usable land have been either leased to various tenants or
available for sale.

Industries holds various contracts and leases associated with the
property.

Through July 8, the Debtors have sold roughly 65 acres of
property.  The net sales have primarily paid senior secured debt
and established funding to ensure the environmental integrity of
the Gypstacks.

A hearing on the Extension Motion is scheduled for July 31, 2014
at 10:30 a.m. at Tampa, FL - Courtroom 9B, Sam M. Gibbons United
States Courthouse, 801 N. Florida Avenue.

                           About HRK Holdings

HRK Holdings and HRK Industries LLC filed for Chapter 11
protection (Bankr. M.D. Fla. Case Nos. 12-09868 and 12-09869) on
June 27, 2012.  Judge K. Rodney May oversees the case.  Barbara A.
Hart, Esq., and Scott A. Stichter, Esq., at Stichter, Riedel,
Blain & Prosser, P.A., represents the Debtors.

HRK Holdings disclosed $33,366,529 in assets and $26,092,559
in liabilities in its revised schedules.

According to the Debtors, the bankruptcy filing was necessitated
by the immediate need to sell a portion of the remaining property
to create liquidity for (a) funding the urgent management of the
site-related environmental concerns; the benefit of creditors;
funding a litigation filed by the Debtors; and funding of expenses
related to additional sales of the remaining property.

HRK Holdings is selling real property assets to Allied Universal
Corp. and Mayo Fertilizer, Inc.  The Court allowed HRK and the
purchasers to enter into any modifications to the agreements
without need of further Court approval, provided that no
amendments will occur without prior consent of Regions Bank.


IMMUNOCLIN CORP: Sadler, Gibb & Assocs. Raises Going Concern Doubt
------------------------------------------------------------------
ImmunoClin Corporation filed with the U.S. Securities and Exchange
Commission early this month its annual report on Form 10-K for the
fiscal year ended Jan. 31, 2014.

Sadler, Gibb & Associates, LLC, expressed substantial doubt about
the Company's ability to continue as a going concern, citing that
the Company has an accumulated deficit of $12.86 million.

The Company reported a net loss of $12.98 million on $nil of
revenues for the fiscal year ended Jan. 31, 2014, as compared with
a net loss of $68,438 on $182,621 of revenues in 2013.

The Company's balance sheet at March 31, 2014, showed $21.04
million in total assets, $725,468 in total liabilities, and
stockholders' equity of $20.31 million.

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

                       http://is.gd/nm71Cj

ImmunoClin Corporation is a healthcare company. The Company
develops preventive strategies to fight inflammatory conditions
that are the underlying cause of pathologies in multiple
conditions including infections, cancer, cardiovascular disease,
and dementia.


IZEA INC: Stockholders to Sell 18.2 Million Common Shares
---------------------------------------------------------
Izea, Inc., filed with the U.S. Securities and Exchange Commission
a Form S-1 registration statement relating to the sale of
18,249,240 shares of the Company's common stock by Brian W. Brady,
Perry A. Sook, John Pappajohn, et al.  The Company's common stock
is quoted on the OTCQB marketplace under the trading symbol IZEA.
On July 15, 2014, the closing price of the Company's common stock
was $0.49 per share.  A full-text copy of the Form S-1 is
available for free at http://is.gd/xPz1Cm

                          About IZEA, Inc.

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

IZEA reported a net loss of $3.32 million on $6.62 million
of revenue for the 12 months ended Dec. 31, 2013, as compared with
a net loss of $4.67 million on $4.95 million of revenue during the
prior year.  The Company's balance sheet at March 31, 2014, showed
$13.16 million in total assets, $16.44 million in total
liabilities and a $3.27 million total stockholders' deficit.


J GILLIAM WOOD: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: J Gilliam Wood Family Limited Partnership
        P.O. Box 176
        Edenton, NC 27932

Case No.: 14-04294

Chapter 11 Petition Date: July 25, 2014

Court: United States Bankruptcy Court
       Eastern District of North Carolina
       (Greenville Division)

Judge: Hon. Randy D. Doub

Debtor's Counsel: Amy M. Currin, Esq.
                  OLIVER FRIESEN CHEEK, PLLC
                  PO Box 1548
                  New Bern, NC 28563
                  Tel: 252 633-1930
                  Fax: 252 633-1950
                  Email: efile@ofc-law.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John G. Wood, IV, partner.

A list of the Debtor's six largest unsecured creditors is
available for free at http://bankrupt.com/misc/nceb14-04294.pdf


JACK HOMITZ: W.D. Pa. Judge Rejects Amended Bankruptcy-Exit Plan
----------------------------------------------------------------
Bankruptcy Judge Gregory L. Taddonio denied confirmation of the
Amended Plan of Reorganization Dated December 24, 2013, filed by
Jack and Susan Homitz, saying the Amended Plan violates 11 U.S.C.
section 1123(b)(5) by modifying the rights of a creditor whose
only collateral is the debtor's principal residence located at 121
Dana Drive in New Brighton, Pennsylvania.  The Debtors propose to
unilaterally reduce the interest rate on Beneficial's secured
claim from 7.49% to 4%.  However, Judge Taddonio said the Debtors
cannot modify any portion of Beneficial Consumer Discount
Company's claim without the creditor's consent, and that consent
has not been obtained.  By proposing a loan modification
prohibited by section 1123(b)(5), the Court concluded that the
Amended Plan fails to comply with all applicable provisions of the
Bankruptcy Code and therefore it is not confirmable pursuant to
section 1129(a)(1).

A copy of the Court's July 24, 2014 Memorandum Opinion is
available at http://is.gd/7F90zefrom Leagle.com.

Jack A. Homitz and Susan M. Homitz filed a joint Chapter 11
petition (Bankr. W.D. Pa. Case No. 13-23757) on Sept. 3, 2013.


JOSEPH LOOMIS: Hunter Humphrey's Bid for Status Hearing Nixed
-------------------------------------------------------------
Hunter, Humphrey & Yavitz, PLC filed a proof of claim in the
Chapter 11 case of Joseph Charles Loomis for $95,000 in legal fees
incurred while representing Loomis in litigation before the United
States District Court for the Eastern District of Virginia.
Loomis filed a complaint and objection to the proof of claim in
the Bankruptcy Court, commencing adversarial proceedings against
Hunter Humphrey; and Candess J. Hunter, Isabel M. Humphrey, and
Randall S. Yavitz.  Loomis asserted claims of professional
negligence, breach of contract and breach of fiduciary duty.

Hunter Humphrey moved to withdraw the reference from Bankruptcy
Court to the United States District Court for the District of
Arizona, arguing that under Stern v. Marshall, the Bankruptcy
Court lacked final adjudicatory authority over the adversarial
proceeding.

On July 27, 2012, the District Court denied the request, finding,
among other things, that withdrawal of the reference is not
appropriate at this stage, and that judicial economy is best
served by allowing the bankruptcy judge, who is familiar with this
case as well as the Virginia Action, to oversee pretrial matters,
initially adjudicate dispositive motions, and issue a report and
recommendation prior to withdrawal.

At the conclusion of the adversarial proceeding before the
Bankruptcy Court, Hunter Humphrey sought and obtained summary
judgment in their favor.  The proof of claim was "deemed allowed
in its entirety, and [to] be paid consistent with, and pursuant
to, the terms of the Plan of Reorganization and the Court's June
12, 2012 Order confirming the modified plan."

Loomis filed a Notice of Appeal.

In a July 22, 2014 Order available at http://is.gd/4gIfQNfrom
Leagle.com, District Judge Steven P. Logan denied Hunter
Humphrey's request for an initial status conference to resolve
whether the Bankruptcy Court erred in entering judgment rather
than issuing a report and recommendation.   Judge Logan said
resolution of the dispute is premature at this juncture.  The
issue of whether the adversarial proceeding adjudicated Stern
claims and what standard of review should be accorded to the
Bankruptcy Court's opinion should be addressed by the parties in
their briefing on the merits.  If the District Court determines
"that the Bankruptcy Court's entry of judgment was invalid," the
Court will conduct a "de novo review and [enter] its own valid
final judgment" to cure such error.  Likewise, if the Court
determines that the Bankruptcy Court's entry of judgment was
valid, it will be subject to appellate review.  The record of the
Bankruptcy Court's opinion is amply developed for either
construction.

Judge Logan directed the parties to submit briefs to sufficiently
address the adversarial claims at issue.  The time for briefing
will be set forth by a scheduling order to issue in this action
following the filing of the certificate of readiness, Judge Logan
said.

The case is Joseph Charles Loomis, Appellant, v. Hunter, Humphrey
& Yavitz PLC, et al., Appellees, CV-14-01295-PHX-SPL (D. Ariz.).

Chandler, Arizona-based Joseph Charles Loomis filed for Chapter 11
bankruptcy protection (Bankr. D. Ariz. Case No. 10-01885) on Jan.
26, 2010.  Gerald K. Smith, Esq., at Gerald K. Smith and John
C. Smith Law OFC, assists the Debtor in its restructuring effort.
The Debtor disclosed $10,283,589 in assets and $5,349,932 in debts
as of the Petition.


KANGADIS FOODS: Files Schedules of Assets and Liabilities
---------------------------------------------------------
Kangadis Food Inc. filed with the U.S. Bankruptcy Court for the
Eastern District of New York its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $11,406,167
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $3,500,000
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                          $379,204
                                 -----------      -----------
        TOTAL                    $11,406,167       $3,879,204

                        About Kangadis Food

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

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

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

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

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


KANGADIS FOODS: Gets Approval to Hire SilvermanAcampora as Counsel
------------------------------------------------------------------
Kangadis Food Inc. received a bankruptcy judge's approval of its
application to hire SilvermanAcampora LLP as its legal counsel.

Judge Robert Grossman on July 15 signed an order approving the
hiring of the New York-based law firm despite an objection from a
group of consumers who are involved in a class-action suit related
to the mislabeling of Kangadis' Capitriti olive oil product.

The objection was overruled earlier at a court hearing on July 2.

One issue raised by the group in its objection is whether
SilvermanAcampora is still "disinterested" or not after it
received payment from Kangadis prior to the company's bankruptcy,
which could be a preferential transfer.

Kangadis defended its application, saying the payment couldn't be
a preferential transfer since it wasn't on account of an
"antecedent debt."

                        About Kangadis Food

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

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

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

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

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


KANGADIS FOODS: Gets Approval to Hire Fox as Special Counsel
------------------------------------------------------------
U.S. Bankruptcy Judge Robert Grossman has given Kangadis Food Inc.
the green light to hire Fox Rothschild LLP as its special counsel.

Judge Grossman approved the hiring of the Pennsylvania-based law
firm despite an objection from a group of consumers who are
involved in a class-action suit related to the mislabeling of
Kangadis' Capitriti olive oil product.

The objection was overruled earlier at a court hearing on July 2.

In its objection, the group had argued that the firm is not
"disinterested" since it holds a claim against Kangadis, and that
it received payment from the company which could be a preferential
transfer.

Kangadis defended its application, arguing that the Bankruptcy
Code doesn't require that a special counsel be "disinterested."
The company argued that the bankruptcy law only requires that a
special counsel doesn't have interest "materially adverse" to the
bankrupt company with respect to the matters handled by the
special counsel.

Kangadis also argued that even if Fox Rothschild received an
avoidable preferential transfer, it would only require the firm to
return the preference and would not create a "materially adverse
interest" to the company.

                        About Kangadis Food

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

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

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

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

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


KANGADIS FOODS: Judge Sets Deadlines for Filing Claims
------------------------------------------------------
Consumers who opted out of a class-action suit filed against
Kangadis Food Inc. over the mislabeling of its Capitriti olive oil
product have until September 8 to file their pre-bankruptcy
claims.

The deadline is also applicable to claimants who have not yet
received a notice of the deadline for filing claims sent out
earlier by the company, according to an order signed on July 24 by
Judge Robert Grossman who oversees Kangadis' bankruptcy case.

Last month, Judge Grossman established an August 5 deadline for
all Kangadis claimants and a December 3 deadline for governmental
units to file their proofs of claim against the company.

                        About Kangadis Food

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

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

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

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

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


KANGADIS FOODS: Files Amended List of Largest Unsecured Creditors
-----------------------------------------------------------------
Kangadis Food Inc. on July 10 filed an amended list of creditors
holding 20 largest unsecured claims.

In the new list, Suffolk County Water Authority, which ranked 12th
in the initial list, was replaced by CIT Technology Financial
which asserts an unsecured claim in the amount of $294.

The unsecured creditors are:

   Entity                           Nature of Claim   Claim Amount
   ------                           ---------------   ------------
   Fox Rothschild LLP                 Legal fees          $352,617

   ClearBrook/Tully                   Services              $5,657
    Environmental Inc.

   Aramark Uniform Services           Uniforms              $3,653

   Ata Freight Line LTD.              Freight services      $3,237

   Adco Paper & Packaging Co.         Packaging             $2,888

   Cell-Pak (Division                 Boxes                 $2,214
    of Fluted Partition)

   Manufacturers Corrugated Box Co.   Boxes                 $1,608

   Emerald Signs                      Truck signs           $1,524

   EcoPlast LLC                       Box supplier          $1,297

   ZEP Manufacturing Co               Cleaning supplies       $914

   Glove Planet                       Gloves                  $856

   Just Truck Repairs                 Repairs                 $469

   AFA Protective Sys. Inc.           Sprinklers              $455

   Zoro Tools, Inc.                   Machinery parts         $297

   CIT Technology Financial           Copier lease            $294

   CAL Business Solutions             Prof. IT services       $232

   K&G Power Systems                  Repair                  $219

   T-Mobile Bankruptcy Team           Phones                  $185

   Hilo Industrial                    Parts for forklifts     $165

   CHEP USA                           Pallets                 $129

                        About Kangadis Food

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

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

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

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

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


LEATHERSTOCKING ANTIQUES: Approval of Winston Capital Deal Upheld
-----------------------------------------------------------------
District Judge Edgardo Ramos tossed a pro se appeal by Rubin
Sterngass, former president and CEO of Leatherstocking Antiques,
Inc., from a bankruptcy court order approving a stipulation
between the Leatherstocking Chapter 7 trustee and Winston Capital
LLC, the company's secured creditor.  Judge Ramos also denied Mr.
Sterngass' requests for reconsideration, temporary restraining
order, and injunction; and affirmed the bankruptcy court order.

In its Schedule "A" filed together with the bankruptcy petition,
Leatherstocking listed a fee simple interest in six properties:

     -- 701-705 A Route 9W, Valley Cottage, New York 10989;
     -- 707-709 Route 9W, Valley Cottage, New York 10989;
     -- 17 High Street, Valley Cottage, New York 10989;
     -- 719 Route 9W, Valley Cottage, New York 10989;
     -- 741 Route 9W, Valley Cottage, New York 10989; and
     -- 749 Route 9W, Valley Cottage, New York 10989

Schedule "D" lists Winston as a secured creditor holding an
$800,000 disputed first mortgage secured by certain of the
Properties.

Following conversion of Leatherstocking's Chapter 11 case to a
Chapter 7 liquidation, Marianne T. O'Toole, the Chapter 7 Trustee,
on July 27, 2012, moved for entry of an Order authorizing the sale
of the Properties.  Sterngass objected to the Notice of Sale.

The auction sale was held on August 21, 2012.  The Bankruptcy
Court approved the Sale Motion over Sterngass' objections and, on
August 24, entered three Orders approving the sales  Sterngass did
not seek or obtain stays of the Sale Orders pending appeal.

On September 17, 2012, the Chapter 7 Trustee closed on the sales
of the 17 High Property, the 741 Property and the 749 Property.
On September 21, the Trustee closed on the sales of the 719
Property, the 701-705 A Property and the 707-709 Property.  On
Sept. 27, 2013, the U.S. District Court for the Southern District
of New York dismissed Sterngass's subsequent appeal of the Sale
Orders as statutorily and equitably moot.

On August 24, 2012, three days after the auction sale, Ms. O'Toole
filed a notice of presentment of the Winston Stipulation.  The
Stipulation indicates that, as of the petition date, Winston's
claim was worth $1,048,152.22 and was secured by the 701-705 A
Property, the 707-709 Property, and the 17 High Property.  Winston
claimed that, as of August 31, 2012, it would be owed
$1,518,218.89; the Trustee disputed that amount.  In any event,
the sale of the Properties securing the debt was not expected to
yield enough proceeds to cover the Winston claim along with the
administrative costs and outstanding real estate taxes.  The
Winston Stipulation therefore fixed and allowed Winston's claim at
the lower $1,048,152.22 amount.  In addition, it provided that the
following amounts would be carved-out from the sales proceeds and
retained by the Trustee: (1) the amount of the unpaid real estate
taxes for the Subject Properties as of the closing date; (2) the
amount due to the auctioneer; and (3) 10% for the benefit of the
Estate (to cover the Trustee's commissions and expenses, counsel's
fees and expenses, and the Estate's creditors).

Sterngass objected to the Winston Stipulation and filed three
documents with the Bankruptcy Court in advance of the scheduled
hearing.  The Bankruptcy Court heard oral arguments on May 2, 2013
and approved the Winston Stipulation over Sterngass's objections.
The formal Order overruling the Sterngass objections and approving
the Winston Stipulation was filed on May 13, 2013.

Sterngass filed a notice of appeal on May 28, 2013.  The Court
held a status conference on January 7, 2014, at which time the
parties were given a preliminary opportunity to present their
arguments and a formal briefing schedule was set.

The case before the District Court is, RUBIN STERNGASS, Appellant,
v. MARIANNE T. O'TOOLE, as Chapter 7 Trustee of the Estate of
Leatherstocking Antiques, Inc., Appellee, No. 13 CIV. 5609 (ER)
(S.D.N.Y.).  A copy of the District Court's July 21, 2014 Opinion
and Order is available at http://is.gd/DtWtBFfrom Leagle.com.

Leatherstocking Antiques, Inc., Debtor, appeared Pro Se.  Rubin
Sterngass, Appellant, also appeared Pro Se.

                 About Leatherstocking Antiques

Leatherstocking Antiques, Inc., based in Valley Cottage, NY, filed
for Chapter 11 bankruptcy (Bankr. S.D.N.Y. Case No. 10-22704) on
April 13, 2010) in White Plains.  Judge Robert D. Drain presided
over the case.  Todd S. Cushner, Esq., at Cushner & Garvey, LLP,
served as bankruptcy counsel.  According to its schedules,
Leatherstocking Antiques said assets total $14,620 while debts
total $1,300,000.  A list of the Company's 3 largest unsecured
creditors filed together with the petition is available for free
at http://bankrupt.com/misc/nysb10-22704.pdf The petition was
signed by Rubin Sterngass, president.

On May 18, 2012, Leatherstocking's case was converted from Chapter
11 to Chapter 7 of the Bankruptcy Code.  Marianne T. O'Toole was
named Chapter 7 Trustee.


LIGHTSQUARED INC: Has Access to Cash Collateral Until July 31
-------------------------------------------------------------
U.S. Bankruptcy Judge Shelley Chapman authorized LightSquared to
continue to use the cash collateral of lenders under a 2010 credit
agreement until July 31.

The judge's order issued on July 24 does not require LightSquared
to pay the so-called adequate protection payment to the lenders.
The company, however, is required to pay the fees and expenses of
White & Case LLP and The Blackstone Group LP.

A full-text copy of the July 24 order is available without charge
at http://is.gd/Gj109C

                     About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, to resolve regulatory issues that have prevented it
from building its coast-to-coast integrated satellite 4G wireless
network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.


LRG REALTY: Case Summary & 6 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: LRG Realty, LLC
        120 Park Road
        Morris Plains, NJ 07950

Case No.: 14-25199

Chapter 11 Petition Date: July 25, 2014

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Hon. Donald H. Steckroth

Debtor's Counsel: John J. Scura, III, Esq.
                  SCURA, WIGFIELD, HEYER & STEVENS, LLP
                  1599 Hamburg Turnpike
                  PO Box 2031
                  Wayne, NJ 07470
                  Tel: (973) 696-8391
                  Email: jscura@scuramealey.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Carl Cerbone, member.

A list of the Debtor's six largest unsecured creditors is
available for free at http://bankrupt.com/misc/njb14-25199.pdf


LUPATECH SA: Foreign Debt-Reduction Plan Enforced by U.S. Court
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that U.S. Bankruptcy Judge Stuart M. Bernstein in New York
on July 14 agreed to enforce Lupatech SA's Brazilian restructuring
plan in the U.S. and halted actions in the U.S. that might impede
the plan's implementation.

According to the report, the Brazilian plan, accepted by 86.5
percent of bondholders, gives them new notes for 15 percent of the
existing debt.  For the other 85 percent, they receive stock,
which existing shareholders can buy from Noteholders, the report
related.  The plan requires the Brazilian Development Bank and
other debenture holders to consensually swap debt on the same
15/85 basis, the report related.

                        About Lupatech SA

Lupatech Group is a Brazilian provider of highly technical
components and related specialized services principally within the
oil, gas, and foundry industries in Latin America and throughout
the world.  Lupatech's operations began in 1980 in Brazil and
currently consist of 32 separate business units organized into two
main business segments, divided into three countries in Latin
America -- Brazil, Colombia and Argentina.

Lupatech S.A. and its affiliates filed Chapter 15 bankruptcy
petitions (Bankr. S.D.N.Y. Lead Case No. 14-11559) in Manhattan,
New York on May 23, 2014, so the U.S. court can enforce a debt-
reduction plan nearing approval in Brazil.

Based in Nova Odessa in the State of Sao Paulo, Lupatech owes
US$302.5 million on unsecured bonds and US$179.1 million on
unsecured debentures that are 92.5 percent-held by Brazilian
Development Bank.

Lupatech's total indebtedness at the end of the fourth quarter of
2013 was US$851.1 million.  As of Dec. 31, 2013, the Lupatech
Group reported current assets of US$161.2 million and current
liabilities of US$754.4 million.  For 2013, Lupatech reported
total revenue of US$241.3 million.

Lupatech and its affiliates are seeking joint administration of
their Chapter 15 cases.  Ricardo Doebeli is the CEO and Lupatech
serves as the foreign representative in the U.S.  Lupatech's
counsel in the Chapter 15 case is Douglas P. Bartner, Esq., at
Shearman & Sterling LLP, in New York.  The Garden City Group,
Inc., is the agent under the proposed plan.


MAGNOLIA SCIENCE: S&P Revises Outlook & Affirms 'BB' Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services revised the outlook to negative
from positive and affirmed its 'BB' long-term rating on the
California School Finance Authority's series 2014A and taxable
series 2014B school facility revenue bonds issued on behalf of MPM
Sherman Way LLC for the Magnolia Science Academy-1 (MSA-1), Reseda
Project.

"The outlook revision to negative reflects the political
uncertainty and increased charter renewal risk of the network of
schools founded and managed by the Magnolia Educational Research
Foundation [MERF], given Los Angeles Unified School District
Charter School Division's [LAUSD CSD] failure to renew the
charters for two Magnolia schools, MSA-6 and MSA-7, on June 27,
2014," said Standard & Poor's credit analyst Debra Boyd.  "Because
each school within the Magnolia network has its own separate
charter, we do not view the nonrenewal of MSA-6 and MSA-7's
charters as presenting an immediate risk to MSA-1's charter given
its financial health and strong academic performance," added
Ms. Boyd.  "However, many of the negative findings cited by LAUSD
CSD relate to accounting practices and governance at the charter
management organization level."

Although this is being disputed by MERF, the ultimate resolution
of the matter is unknown at this time.  Regardless, Standard &
Poor's thinks the issues and contention between the LAUSD and MERF
raise the level of risk associated with future nonrenewals of
other Magnolia schools.  At the same time, the affirmation of the
'BB' rating recognizes the strength of MSA-1 and MERF's operations
and financial resources in fiscal 2013 and based on nine months of
unaudited financial reports for fiscal 2014.


MILLENNIUM HOLDINGS: 7th Cir. Upholds Risk-Contribution Theory
--------------------------------------------------------------
Ernest Gibson filed suit in Wisconsin state court against former
manufacturers of white lead carbonate pigments.  This pigment was
used, before the federal government banned it in the 1970s, in
paints, including paints applied to residences.  Gibson brings
negligence and strict liability claims against the pigment
manufacturers, but because he cannot identify which manufacturer
made the white lead carbonate pigment that injured him, he relies
on the "risk contribution" theory of tort liability fashioned by
the Wisconsin Supreme Court in Thomas v. Mallet, 701 N.W.2d 523,
564 (2005).  Under the risk-contribution theory, plaintiffs are
relieved of the traditional requirement to prove that a specific
manufacturer caused the plaintiff's injury.  The district court
held that risk-contribution theory violates the substantive
component of the Due Process Clause, and granted summary judgment
in favor of the defendants.  A three-judge panel of the U.S. Court
of Appeals for the Seventh Circuit, however, held that in light of
the broad deference that the Constitution grants to the
development of state common law, risk-contribution theory survives
substantive Due Process scrutiny, as well as the manufacturers'
other constitutional challenges.  The Seventh Circuit, thus,
reversed the judgment and reinstated the plaintiff's case.

In Wisconsin state court, Gibson sued seven companies that either
made white lead carbonate pigment or were successors-in-interest
to companies that had made that type of pigment:

     -- American Cyanamid (made white lead pigments until 1972).

     -- Armstrong Containers (successor to MacGregor, which made
white lead pigments until 1971).

     -- E.I. DuPont (made white lead pigments until 1924).

     -- NL Industries, Inc. (made white lead pigments, sold its
lead paint and pigment business in 1976).

     -- Atlantic Richfield (successor to Anaconda, which made
white lead pigments until 1946).

     -- Sherwin-Williams (made white lead pigments until 1947).

     -- Millennium Holdings LLC, which was dismissed from the case
after that defendant filed for bankruptcy.

The case is, ERNEST GIBSON, Plaintiff-Appellant, v. AMERICAN
CYANAMID CO., et al., Defendants-Appellees, No. 10-3814 (7th
Cir.).  A copy of the Seventh Circuit's July 24, 2014 decision is
available at http://is.gd/otIEYofrom Leagle.com.

Millennium Holdings LLC and its affiliates filed for bankruptcy
under Chapter 11 of the U.S. Bankruptcy Code on Jan. 6, 2009.


MOMENTIVE PERFORMANCE: Senior Lenders Sue For Deal Breaches
-----------------------------------------------------------
Law360 reported that senior secured lenders of bankrupt industrial
silicone and quartz producer Momentive Performance Materials Inc.
have sued a group of junior counterparts in New York state court,
claiming they breached a creditors' pact by supporting the
debtor's prenegotiated plan to shed $3 billion in debt.

According to Law360, as trustee for a group of noteholders under a
$250 million indenture, Wilmington Trust Bank NA accused a group
of second-priority secured bondholders of breaching a 2012
intercreditor agreement between the parties designed to protect
competing interests in the event MPM defaulted.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that the senior lenders contend that the juniors are
litigating in bankruptcy for a result that wouldn't pay the senior
in full or would allow juniors to have some recovery before top-
ranking lenders are paid off.  It remains to be seen whether the
junior lenders will attempt to have the state-court suit over the
intercreditor agreement shifted to bankruptcy court where the
issues might be hashed out as part of the trial in August, Mr.
Rochelle said.

The $635 million in 9 percent second-lien notes due 2021 last
traded on July 17 for 79 cents on the dollar, Mr. Rochelle cited
Trace, the bond-price reporting system of the Financial Industry
Regulatory Authority. The notes traded for 72 cents on May 22.
The senior subordinated notes traded at 10:27 a.m. on July 17 for
28.968 cents on the dollar, according to Trace.

                   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.


NATROL INC: July 30 Hearing on Continued Cash Collateral Access
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware issued a
second interim order, authorizing Natrol, Inc., et al., to use
until Aug. 1, 2014, cash collateral in which secured parties
assert an interest.

Lenders asserting interest in the cash collateral include Ableco
Finance LLC, A5 Funding L.P. and certain funds affiliated with
Cerberus Capital Management, LP pursuant to a prepetition credit
agreement dated as of March 5, 2013.

The Debtors would use the cash collateral for working capital and
general corporate purposes and costs and expenses.

As adequate protection from any diminution in value of the
lenders' collateral, the Debtors will grant the secured parties
adequate protection liens on unencumbered property; replacement
liens in the postpetition collateral, including newly created
inventory and accounts receivable from non-traceable proceeds of
prepetition collateral, and a superpriority administrative expense
claim status.

The Bankruptcy Court will convene a final hearing on July 30, at
10:00 a.m., to consider the Debtors' continued access to cash
collateral.

The Court previously authorized the Debtors' use of cash
collateral until July 11.  A copy of the budget is available for
free at http://bankrupt.com/misc/NATROLINC_42_cashcoll.pdf

The Debtors are represented by:

         Michael R. Nestor, Esq.
         Margaret Whiteman Greecher, Esq.
         Ian J. Bambrick, Esq.
         YOUNG CONAWAY STARGATT & TAYLOR, LLP
         Rodney Square
         1000 North King Street
         Wilmington, DE 19801
         Tel: (302) 571-6600
         Fax: (302) 571-1253

              - and -

         Marc J. Winthrop, Esq.
         Robert A. Opera, Esq.
         Peter W. Lianides, Esq.
         WINTHROP COUCHOT PROFESSIONAL CORPORATION
         660 Newport Center Drive, 4th Floor
         Newport Beach, CA 92660
         Tel: (949) 720-4100
         Fax: (949) 720-4111

                       About Natrol, Inc.

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

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

The Debtors requested that the Court approve the employment of (i)
Jeffrey C. Perea of the firm Conway MacKenzie Management Services,
LLC as chief financial officer and for CMS to provide temporary
employees to assist Mr. Perea in carrying out his duties; (ii)
Stephen P. Milner of the firm Squar, Milner, Peterson, Miranda &
Williamson LLP as chief restructuring officer and for CMS to
provide temporary employees to assist Mr. Milner in carrying out
his duties; (iv) BDO USA, LLP as auditor; (v) TaxGroup Partners as
tax services provider.

The U.S. Trustee for Region 3 on June 19 appointed five creditors
of Natrol, Inc. to serve on the official committee of unsecured
creditors.  The Committee tapped to retain Otterbourg P.C. as lead
counsel; (ii) Pepper Hamilton LLP as Delaware counsel; and (iii)
CMAG as financial advisors.


NATROL INC: July 30 Hearing to Approve Compromise With Cerberus
---------------------------------------------------------------
The Bankruptcy Court will convene a hearing on July 30, 2014, at
10:00 a.m., to consider approval of (i) a compromise and
settlement agreement; and (ii) an agreed final order authorizing
Natrol Inc., et al.'s use of cash collateral.  Objections, if any,
were due July 28 at 10:00 a.m.

The settlement was entered among the Debtors, the Official
Committee of Unsecured Creditors, Cerberus Business Finance LLC,
solely in its capacity as administrative agent and collateral
agent under a financing agreement dated as of March 5, 2013, on
behalf of itself and the lenders that are parties thereunder, and
Natrol Global Fze LLC.

The settlement will resolve a multitude of complex and contentious
issues between the Debtors and Cerberus, their major secured
lender.  For example, the settlement will resolve the pending
contested motions for use of cash collateral and for the
appointment of a Chapter 11 Trustee.  The settlement provides for
a reasonable time for the Debtors to explore all alternatives for
a restructuring, including refinancing or a sale.  Moreover, the
settlement will avoid protracted and contentious litigation
between the Debtors and Cerberus.

The principal terms of the settlement are:

     -- subject to certain challenge rights set forth in the
        settlement, the allowed claim will consist of:

           (i) $68,785,869, plus interest at a rate of 12.75%
               per annum, from and after July 1, 2014; plus

          (ii) the amount of all Cerberus' reasonable prepetition
               and postpetition fees, costs, and expenses minus
               any amount actually paid by the Debtors during
               the Bankruptcy cases, and the allowed claim will
               be deemed to be a fully secured claim.

     -- the Debtors agree to absolutely and indefeasibly pay
        to Cerberus cash equal to the full amount of the Allowed
        Claim.

A copy of the compromise is available for free at:

     http://bankrupt.com/misc/NATROLINC_242_compromise.pdf

                       About Natrol, Inc.

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

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

The Debtors requested that the Court approve the employment of (i)
Jeffrey C. Perea of the firm Conway MacKenzie Management Services,
LLC as chief financial officer and for CMS to provide temporary
employees to assist Mr. Perea in carrying out his duties; (ii)
Stephen P. Milner of the firm Squar, Milner, Peterson, Miranda &
Williamson LLP as chief restructuring officer and for CMS to
provide temporary employees to assist Mr. Milner in carrying out
his duties; (iv) BDO USA, LLP as auditor; (v) TaxGroup Partners as
tax services provider.

The U.S. Trustee for Region 3 on June 19 appointed five creditors
of Natrol, Inc. to serve on the official committee of unsecured
creditors.  The Committee tapped to retain Otterbourg P.C. as lead
counsel; (ii) Pepper Hamilton LLP as Delaware counsel; and (iii)
CMAG as financial advisors.


NATROL INC: Hires Squar Milner to Provide CRO
---------------------------------------------
Natrol, Inc. and its debtor-affiliates seek authorization from the
U.S. Bankruptcy Court for the District of Delaware to employ
Squar, Milner, Peterson, Miranda & Williamson, LLP to provide
restructuring management services and Stephen P. Milner as chief
restructuring officer, nunc pro tunc to June 16, 2014.

The Debtors hired Squar Milner pursuant to the Engagement Letter
executed by and between the Debtors and Squar Milner. Mr. Milner
is the principal professional staffed by Squar Milner on the
engagement, and is the current CRO for the Debtors.  Additional
Squar Milner staff will be made available to serve under the CRO
during these Chapter 11 Cases pursuant to the terms of the
Engagement Letter.

The Debtors anticipate that, in addition to the duties Mr. Milner
will undertake in the ordinary course, Squar Milner will provide
the following services:

   (a) communicate with the Debtors' stakeholders, including but
       not limited to vendors, customer, employees, lenders,
       creditor committees, Court officials, attorneys, and other
       services providers;

   (b) together with the Debtors' leadership team, consider the
       various restructuring strategies and lead the
       implementation of the strategy chosen, including devising
       operational changes as deemed necessary;

   (c) make employment-related decisions following consultation
       with the Debtors' legal counsel;

   (d) monitor daily cash allocation and cash-management
       processes, including the preparation of reports associated
       with the use of cash collateral; and

   (e) assist in communications and negotiations with outside
       constituents.

Squar Milner will be paid at these hourly rates:

       Partners                  $300-$650
       Managers                  $225-$420
       Seniors                   $160-$240
       Professional Staff        $120-$175


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

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

Squar Milner can be reached at:

       Stephen P. Milner
       SQUAR, MILNER, PETERSON,
       MIRANDA & WILLIAMSON, LLP
       4100 Newport Place Drive, Third Floor
       Newport Beach, CA 92660
       Tel: (949) 222-2999
       Fax: (949) 222-2989
       E-mail: smilner@squarmilner.com

                         About Natrol, Inc.

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

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

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


NATROL INC: Hires Miller Barondess as Special Litigation Counsel
----------------------------------------------------------------
Natrol, Inc. and its debtor-affiliates seek authorization from the
U.S. Bankruptcy Court for the District of Delaware to employ
Miller Barondess, LLP as special litigation counsel, nunc pro tunc
to the June 11, 2014 petition date.

The Debtors seek to employ and retain Miller Barondess as special
litigation counsel for the Debtors in connection with general
litigation matters, certain ongoing litigation in state and
federal court, and litigation as necessary in these bankruptcy
proceedings.  Miller Barondess will continue to provide legal
services to the Debtors on an as-needed basis, as determined by
the Debtors and pursuant to the terms and conditions described
herein.

The following professionals are expected to have primary
responsibility for providing Services to the Debtors relating to
the bankruptcy proceedings and the lawsuit against Cerberus:

       Louis R. Miller                 $950
       Daniel S. Miller                $675
       Christopher D. Beatty           $525
       Attorneys                       $525-$950
       Paraprofessionals               $195-$275

For the other pending cases for which Miller Barondess is
retained, most of which related to class action defense, Miller
Barondess has and will continue to charge a blended rate of $525
per hour for all attorney time.

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

On June 5, 2014, Miller Barondess received a $100,000 retainer
from Natrol, which was applied against outstanding prepetition
invoices, as set forth in more detail in the Miller Declaration.
The accounts receivable owed to Miller Barondess by the Debtors as
of the Petition Date is $424,533.65.

Louis R. Miller at Miller Barondess assured the Court that the
firm is a "disinterested person" as the term is defined in Section
101(14) of the Bankruptcy Code and does not represent any interest
adverse to the Debtors and their estates.

Miller Barondess can be reached at:

       Louis R. Miller, Esq.
       MILLER BARONDESS, LLP
       1999 Avenue of the Stars, Suite 1000
       Los Angeles, CA 90067
       Tel: (310) 552.5251
       E-mail: smiller@millerbarondess.com

                         About Natrol, Inc.

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

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

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


PARLIAMENT PARTNERS: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Parliament Partners, Inc.
           dba Parliament House
        410 N Orange Blossom Trail
        Orlando, FL 32805

Case No.: 14-08503

Chapter 11 Petition Date: July 25, 2014

Court: United States Bankruptcy Court
       Middle District of Florida (Orlando)

Debtor's Counsel: R Scott Shuker, Esq.
                  LATHAM, SHUKER, EDEN & BEAUDINE LLP
                  Post Office Box 3353
                  Orlando, FL 32802
                  Tel: (407) 481-5800
                  Fax: (407) 481-5801
                  Email: bknotice@lseblaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Donald Granatstein, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flmb14-08503.pdf


PETER SZANTO: Nevada Judge Won't Reinstate Bankruptcy Case
----------------------------------------------------------
Peter Szanto has asked the federal district court in Nevada to
stay his Chapter 11 bankruptcy case pending a civil complaint
against the U.S. Trustee for malfeasance during the underlying
bankruptcy proceedings.  Szanto has separately asked the Court to
withdraw the reference in its entirety based upon the alleged bias
of the bankruptcy judge.

The District Court has reviewed the docket in the bankruptcy case
and noticed that the bankruptcy case was dismissed on June 17,
2014, and that a notice of appeal was filed on June 19.

In a July 23 Order available at http://is.gd/U9Gbqhfrom
Leagle.com, District Judge Robert C. Jones denies the motion to
stay as moot because the District Court has no jurisdiction to
stay a bankruptcy case via the present civil action.

Judge Jones notes that Szanto has alleged vague "civil rights"
violations but has identified no bases for his grievance apart
from the U.S. Trustee's alleged malfeasance under the bankruptcy
code.  Those complaints must be brought to the attention of the
bankruptcy judge in the bankruptcy case or on appeal.  The U.S.
Trustee is not a state actor amenable to a claim under 42 U.S.C.
Sec. 1983.  Even assuming Szanto intended a so-called Bivens
action, Judge Jones says the U.S. Trustee is immune to any claims
arising out of his official acts, citing Balser v. Dep't of
Justice, Office of. U.S. Tr., 327 F.3d 903, 909-11 (9th Cir.
2003).

Peter Szanto filed a Chapter 11 petition (Bankr. D. Nev. Case No.
13-51261) on June 25, 2013.


PIONEER POINT: U.S. Court Closes Chapter 15 Proceedings
-------------------------------------------------------
The U.S. Bankruptcy Court entered an order closing the Chapter 15
case of Pioneer Point Limited, formerly known as Empire(SPV).

On June 18, 2014, the administrators for the Debtor asked the U.S.
Court to close the case.  No objections or responses were filed to
the motion; and all interested parties having had due and proper
notice and an opportunity to be heard.

As reported in the Troubled Company Reporter on Nov. 20, 2012,
administrators of the Debtor filed a Chapter 15 bankruptcy
petition in Manhattan (Bankr. S.D.N.Y. Case No. 12-14615) to seek
recognition of the company's administration proceeding in the
United Kingdom.

Formerly known as Empire (SPV) Limited, Pioneer is the owner of a
real estate development project in Ilford, England, consisting of
two towers containing approximately 290 residential units and
several ground floor commercial units.  Pioneer breached various
obligations to Landesbank Hessen-Thuringen Gironzentrale, which
was owed GBP108.2 million as of March 2012.  After talks for a
restatement of the facility broke down, Landesbank sought
appointment of administrators under the Insolvency Act 1986 of
the United Kingdom.

The administrators, namely Trevor Patrick O'Sullivan and David
John Dunckley, both from Grant Thornton UK LLP, filed the
Chapter 15 petition with a U.S. bankruptcy court to avoid and
resolve disputes with Global Design Strategies LLC.

Pursuant to an agreement dated Sept. 8, 2010, New York-based GDS
agreed to provide certain art and design consultancy services in
connection with the development of Pioneer's properties.  In
September, GDS tendered an invoice in the sum of GBP407,000.

The administrators said in papers filed in U.S. Court that they
are concerned that, within the context of any future dispute with
GDS, GDS may commence legal or arbitral proceedings against
Pioneer in New York pursuant to the GDS Agreement which endows the
courts of New York with exclusive jurisdiction over any such
disputes.  The administrators said the cost of defending any legal
or arbitral proceedings in New York would be prohibitively
expensive as well as disruptive to their efforts in the U.K.
proceeding to rehabilitate Pioneer.  By granting Chapter 15
recognition of the U.K. proceeding, the U.S. Bankruptcy Court
would empower the administrators to deal with any action or
proceeding commenced in the United States.


PLYMOUTH OIL: Bid for Case Dismissal Taken Under Advisement
-----------------------------------------------------------
Bankruptcy Judge Thad J. Collins determined that the motion to
convert the Chapter 11 case of Plymouth Oil Company LLC, or, in
the alternative, for dismissal, is taken under advisement without
briefs.

Judge Collins held a status conference on July 17, 2014,

As reported in the Troubled Company Reporter on July 11, 2014, the
Court deferred ruling on the Debtor's motion to enforce the
automatic stay and sanctions until after the ruling is entered in
Plymouth Oil Company v. Prairie Sun Foods, Adv. No. 14-9035.

As reported by the TCR on July 8, 2014, the Debtor asked the Court
to, among other things, hold Prairie Sun Foods, LLC -- the winning
bidder at the foreclosure sale of the plant with a credit bid and,
therefore, now holds title to the plant -- in civil contempt for
having violated the automatic stay of Section 362 of the
Bankruptcy Code.

Prairie Sun claimed that the lawsuit is part of its collateral
acquired through the purchase of the lenders' loans.  Bradley R.
Kruse, Esq., at Brown, Winick, Graves, Gross, Baskerville and
Schoenebaum, PLC, in Des Moines, Iowa, argued that the language
contained in the security agreements and UCC filings, which
Prairie Sun has purchased, does not create a valid and perfected
security interest in the lawsuit.  The lawsuit is not part of
Prairie Sun's collateral purchased from the lenders, he
asserted.

On June 23, 2014, Prairie Sun objected to the Debtor's stay
motion, saying that it had no intention of conducting the UCC sale
when its counsel inadvertently sent out the notices.  Prairie Sun
has canceled the sale and currently has no intention of moving
forward with the UCC sale until the adversary proceeding is
decided.  According to Prairie Sun, the automatic stay was not
violated because the Court had granted relief from the stay in
what is now Prairie Sun's collateral.

Unsecured creditor Plymouth Energy Company, L.L.C., filed on
June 24, 2014, an objection to the Debtor's stay motion.  Plymouth
Energy renewed its request for the Court to expedite its ruling on
the pending motion to convert and remove the Debtor's case from
Chapter 11.

As reported by the TCR, the Debtor filed on May 23, 2013, an
adversary action in its bankruptcy case against Plymouth Energy,
which is currently pending.  The lawsuit includes counts for
breach of contract, fraudulent transfer avoidance and preferential
transfer avoidance, among other things.  No trial date has been
set but significant discovery has been conducted.  Settlement
discussions between Plymouth Energy and Plymouth Oil are ongoing.

Plymouth Energy stated in its June 24 court filing that a
settlement in the Plymouth Energy lawsuit will not occur in the
foreseeable future.  Plymouth Energy said that it will "shortly be
serving upon the Debtor written discovery requests and then
intends to depose the Debtor's personnel at a later date.  Another
trial scheduling conference will need to be set up in the Plymouth
Energy lawsuit to provide new case deadlines including, among
others, the completion of discovery."

                          About Plymouth Oil

Plymouth Oil Company, LLC, filed a bare-bones Chapter 11 petition
(Bankr. N.D. Iowa Case No. 12-01403) in Sioux City on July 23,
2012.  In its amended schedules, the Debtor disclosed $21,623,349
in total assets and $12,891,586 in total liabilities.

Plymouth Oil -- http://www.plymouthoil.com-- owned a $30 million
extraction plant located at 22058 K-42 Merrill, Iowa, directly
across from the new Plymouth Energy Ethanol Plant.

Founded by local investors, Plymouth Oil Company, started
operations in February 2010 purchasing raw corn germ and refining
this material into de-oiled germ meal and kosher food-grade
cooking oil.  The plant was capable of pumping out 90 tons of corn
oil each day and about 300 tons of DCGM (defatted corn germ meal)
daily, which is used for hog, poultry and dairy feed.  The plant
was later shut down.

Bankruptcy Judge Thad J. Collins presides over the case.  Bradley
R. Kruse, Esq., and Adam J. Freed, Esq., at Brown, Winick, Graves,
Gross, Baskerville and Schoenebaum, P.L.C., represent the Debtor
as counsel.  The petition was signed by David P. Hoffman,
president.

Secured creditors Arlon Sandbulte, Ryan Lake, Dirk Dorn, Steven
Vande Brake, and Iowa Corn Opportunities, LLC, are represented by
lawyers at Baird Holm LLP in Omaha, Nebraska.

On Oct. 28, 2013, the Bankruptcy Court denied confirmation of
the Debtor's Chapter 11 plan and allowed secured lenders owed
$8.3 million on a bridge loan to foreclose.  A copy of the Plan
is available at http://bankrupt.com/misc/plymouthoil.doc120.pdf


PSL NORTH AMERICA: To Test Jindal Bid at Aug. 13 Auction
--------------------------------------------------------
The Bankruptcy Court approved (a) bidding procedures to govern the
sale of substantially all of PSL-North America LLC, et al.'s
assets; (b) an asset purchase agreement with Jindal Tubular as the
stalking horse bidder; and (c) related bid protections.

The Debtors, in their motion, related that they have been unable
to find a purchaser for the assets on terms as favorable to the
Debtors and their estates as the stalking horse agreement.

The Debtors scheduled an auction for the assets on Aug. 13, 2014,
at 10:00 a.m. at the Offices of Richards, Layton & Finger, P.A.,
One Rodney Square, 920 N. King Street, Wilmington, Delaware.
Competing bids were due Aug. 11, at 5:00 p.m.

The Court will consider the sale of the assets to Jindal or the
winning bidder at a hearing on Aug. 15, at 9:30 a.m.  Objections,
if any are due Aug. 8.

The Debtors added that if, however, no qualified bid is received
by the bid deadline, then the auction will not be held and the
Debtors will designate the purchaser as the winning bidder and may
promptly seek Bankruptcy Court approval of the stalking horse
agreement.

The Court overruled objections to the bidding procedures motion.

The Debtors filed an omnibus reply dated July 10 to the objections
of (1) Standard Charter Bank, Dubai International Financial Centre
Branch (Regulated by the Dubai Financial Services Authority) and
(2) AM/NS Calvert LLC to the bidding procedures motion, stating
that the sale process must not be jeopardized or derailed as a
result of the secured creditors' maneuvers to maximize their share
of the sale proceeds.  At this juncture, the Debtors pointed out
they are merely seeking approval from the Court of the procedures
for the sale.  It is not appropriate to request that the Court
preemptively allocate recoveries among creditors at the stage of
the process without the benefit of evidence.

Calvert joined in certain of the objections raised SCB DIFC to the
Debtors' sale motion.  Prior to the petition date, Calvert sold
steel coil and similar steel products to Debtor PSL-North America,
LLC and is owed not less than approximately $5,425,000.

SCB DIFC, a creditor and party-in-interest, in its objection,
stated that the Debtors proposed a sale where the consideration
includes assumption in full of the debt of the junior secured
creditor, a transaction that would deeply impair SCB DIFC's
secured claim and flip the lien priorities on their head.  The
sale motion also improperly surcharges SCB DIFC's collateral by
paying the success fee of Duff & Phelps Securities, LLC, the
Debtors' financial advisor and investment banker, and repaying the
Debtors' postpetition financing out of the proceeds of such
collateral.

                    About PSL-North America

Founded in 2006, PSL-North America LLC is a manufacturer and
coater of large diameter steel pipes.  The company has a state-of-
the-art facility located in Bay St. Louis, Mississippi, with the
land leased for 99 years.  The company is an American-based
partially owned subsidiary of India's largest producer and
manufacturer of steel piping, PSL Limited.

On June 16, 2014, PSL-North America LLC and PSL USA Inc., filed
voluntary petitions in Delaware (Lead Case No. 14-11477) seeking
relief under chapter 11 of the United States Bankruptcy Code.  The
Debtors' cases have been assigned to Judge Peter J. Walsh.

The Debtors seek to have their cases jointly administered
for procedural purposes.

PSL-North America estimated $50 million to $100 million in assets
and $100 million to $500 million in debt in the bankruptcy
petition.  As of the Petition Date, the company had total
outstanding debt obligations of $130 million, according to a court
filing.

Proposed counsel for the Debtor are John H. Knight, Esq., Paul N.
Heath, Esq., Tyler D. Semmelman, Esq., Amanda R. Steele, Esq. and
William A. Romanowicz, Esq. at Richards, Layton & Finger, P.A.
of Wilmington, Delaware.   Epiq Bankruptcy Solutions serves as
claims agent.


QBS INTERMEDIATE: S&P Assigns Prelim. 'B' CCR; Outlook Stable
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned a preliminary 'B'
corporate credit rating to Houston-based QBS Intermediate Holding
Co. II LLC (d/b/a Quorum Business Solution Inc.).  The outlook is
stable.

In addition, S&P assigned a preliminary 'B' issue-level rating and
preliminary '3' recovery rating to the company's proposed $15
million revolving credit facility due 2019 and $125 million first-
lien term loan due 2021.  The '3' recovery rating indicates S&P's
expectation for meaningful (50% to 70%) recovery of principal in
the event of payment default.

"The preliminary ratings on Quorum reflect the company's 'weak'
business risk profile and its 'highly leveraged' financial risk
profile (as defined by our criteria)," said Standard & Poor's
credit analyst Jacob Schlanger.

The company's weak business risk profile incorporates its small
revenue base and limited geographic diversity and operating scale.
Furthermore, the company competes with several major and long-
established players that have greater financial and product
resources.  However, its growing and significant recurring revenue
base and high customer retention rate partly offset this weakness.
Quorum's "highly leveraged" financial profile reflects pro forma
leverage of over 5x and S&P's expectations that leverage will be
around 5x for the intermediate term.  S&P views the industry risk
as "intermediate," the country risk as "very low," and the
company's management and governance as "fair."

The stable outlook reflects S&P's expectation that Quorum's
significant recurring revenue base aided by revenue growth and
improving EBITDA margins should result in moderate free cash flow
generation.

S&P views an upgrade as unlikely over the next 12 months given
Quorum's small revenue base, limited geographic diversity and
operating scale, and an ownership structure that is likely to
preclude sustained deleveraging.

S&P could lower the rating if Quorum's operating profitability
materially weakens causing leverage to be sustained above high 6x
level.


QUANTUM FOODS: Freeborn & Peters to Aid Panel in Avoidance Actions
------------------------------------------------------------------
The U.S. Bankruptcy Court authorized the Official Committee of
unsecured Creditors in the Chapter 11 cases of Quantum Foods, LLC,
et al., to retain Freeborn & Peters LLP as its special litigation
counsel.

Freeborn & Peters will assist the Committee in the investigation
and prosecution of the avoidance action and commercial tort
claims.

Founded in 1990 and headquartered in Bolingbrook, Illinois,
Quantum Foods, LLC -- http://www.quantumfoods.com-- provides
protein products made from beef, poultry and pork.

Quantum Foods and its affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 14-10318) on Feb. 18, 2014, to
facilitate the sale of substantially all their business to
CTI Foods Holding Co., LLC.

The Debtors' primary secured indebtedness totals $50.2 million,
owing to lenders led by Crystal Financial, LLC, as administrative
and collateral agent.

Quantum Foods is being advised in its restructuring by Daniel J.
McGuire, Esq., Gregory M. Gartland, Esq., and Caitlin S. Barr,
Esq., at Winston & Strawn as counsel; M. Blake Cleary, Esq.,
Kenneth J. Enos, Esq., and Andrew Magaziner, Esq., at Young,
Conaway, Stargatt & Taylor, LLP, serve as local counsel.
City Capital Advisors is the investment banker.  FTI Consulting,
Inc.  also serves as advisor. BMC Group is the claims and notice
agent.

The U.S. Trustee for Region 3 appointed five members to the
official committee of unsecured creditors in the case. The
Committee is seeking to retain Triton Capital Partners, Ltd. as
financial advisor; and Mark D. Collins, Esq., Russell C.
Silberglied, Esq., Michael J. Merchant, Esq., Christopher M.
Samis, Esq., and Robert C. Maddox, Esq., at Richards, Layton &
Finger, P.A. as counsel.

Raging Bull is represented in the case by Van C. Durrer II, Esq.,
at Skadden Arps Slate Meagher & Flom LLP.  Crystal Finance LLC is
represented by David S. Berman, Esq., at Riemer & Braunstein LLP.


QUANTUM FOODS: Withdraws Motion to Sell Substantially All Assets
----------------------------------------------------------------
Quantum Foods, LLC, et al., on July 9 notified the Bankruptcy
Court of their withdrawal of their request for approval of bid
procedures to govern the sale of substantially all of their
assets.

Raging Bull Acquisition Co. LLC, a unit of Oaktree Capital
Management LP, was slated to buy the Debtors' assets before the
$54 million deal collapsed.  Quantum has commenced a lawsuit
against Oaktree, accusing the private equity firm of having a
"fraudulent scheme" to purchase the meatpacker for far less than
the agreed-upon price.

Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reported that Quantum is seeking damages of $29 million to $35
million, representing the value it said it would have received
under the sale contract, less the amount it's recovering in
liquidation.

The lawsuit is Raging Bull Acquisition Company LLC v. Quantum
Foods LLC (In re Quantum Foods LLC), 14-ap-50360, U.S. Bankruptcy
Court, District of Delaware (Wilmington).

                        About Quantum Foods

Founded in 1990 and headquartered in Bolingbrook, Illinois,
Quantum Foods, LLC -- http://www.quantumfoods.com-- provides
protein products made from beef, poultry and pork.

Quantum Foods and its affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 14-10318) on Feb. 18, 2014, to
facilitate the sale of substantially all their business to
CTI Foods Holding Co., LLC.

The Debtors' primary secured indebtedness totals $50.2 million,
owing to lenders led by Crystal Financial, LLC, as administrative
and collateral agent.

Quantum Foods is being advised in its restructuring by Daniel J.
McGuire, Esq., Gregory M. Gartland, Esq., and Caitlin S. Barr,
Esq., at Winston & Strawn as counsel; M. Blake Cleary, Esq.,
Kenneth J. Enos, Esq., and Andrew Magaziner, Esq., at Young,
Conaway, Stargatt & Taylor, LLP, serve as local counsel.
City Capital Advisors is the investment banker.  FTI Consulting,
Inc.  also serves as advisor. BMC Group is the claims and notice
agent.

The U.S. Trustee for Region 3 appointed five members to the
official committee of unsecured creditors in the case. The
Committee is seeking to retain Triton Capital Partners, Ltd. as
financial advisor; and Mark D. Collins, Esq., Russell C.
Silberglied, Esq., Michael J. Merchant, Esq., Christopher M.
Samis, Esq., and Robert C. Maddox, Esq., at Richards, Layton &
Finger, P.A. as counsel.

Raging Bull is represented in the case by Van C. Durrer II, Esq.,
at Skadden Arps Slate Meagher & Flom LLP.  Crystal Finance LLC is
represented by David S. Berman, Esq., at Riemer & Braunstein LLP.


QUANTUM FOODS: Committee Authorized to Prosecute Lawsuits
---------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that U.S. Bankruptcy Judge Kevin J. Carey authorized the
Official Committee of Unsecured Creditors to investigate,
prosecute, defend, and settle lawsuits that otherwise belong to
Quantum Foods LLC.

                      About Quantum Foods

Founded in 1990 and headquartered in Bolingbrook, Illinois,
Quantum Foods, LLC -- http://www.quantumfoods.com-- provides
protein products made from beef, poultry and pork.

Quantum Foods and its affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 14-10318) on Feb. 18, 2014, to
facilitate the sale of substantially all their business to
CTI Foods Holding Co., LLC.

The Debtors' primary secured indebtedness totals $50.2 million,
owing to lenders led by Crystal Financial, LLC, as administrative
and collateral agent.

Quantum Foods is being advised in its restructuring by Daniel J.
McGuire, Esq., Gregory M. Gartland, Esq., and Caitlin S. Barr,
Esq., at Winston & Strawn as counsel; M. Blake Cleary, Esq.,
Kenneth J. Enos, Esq., and Andrew Magaziner, Esq., at Young,
Conaway, Stargatt & Taylor, LLP, serve as local counsel.
City Capital Advisors is the investment banker.  FTI Consulting,
Inc.  also serves as advisor. BMC Group is the claims and notice
agent.

The U.S. Trustee for Region 3 appointed five members to the
official committee of unsecured creditors in the case. The
Committee is seeking to retain Triton Capital Partners, Ltd. as
financial advisor; and Mark D. Collins, Esq., Russell C.
Silberglied, Esq., Michael J. Merchant, Esq., Christopher M.
Samis, Esq., and Robert C. Maddox, Esq., at Richards, Layton &
Finger, P.A. as counsel.

Raging Bull is represented in the case by Van C. Durrer II, Esq.,
at Skadden Arps Slate Meagher & Flom LLP.  Crystal Finance LLC is
represented by David S. Berman, Esq., at Riemer & Braunstein LLP.


REGENT PURCHASER: S&P Assigns 'B' CCR; Outlook Stable
-----------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' long-term
corporate credit rating to Calgary, Alta.-based oilfield services
company Regent Purchaser Investments Inc.  The outlook is stable.

At the same time, Standard & Poor's assigned issue-level and
recovery ratings to Regent's US$305 million first-lien term loan
(part of the first-lien credit facility, which also includes a
US$75 million revolver), and to its US$130 million second-lien
credit facility.  S&P assigned its 'B' issue-level rating to the
first-lien term loan.  The recovery rating is '3', indicating
S&P's expectation of meaningful (50%-70%) recovery prospects in
the event of a default.  S&P also assigned its 'CCC+' (two notches
lower than the corporate credit rating) issue-level rating to
Regent's second-lien term loan.  The recovery rating on the
second-lien credit facility is '6', indicating S&P's expectation
of negligible (0%-10%) recovery.

Proceeds from the offering will fund private equity firm Advent
International Corp.'s C$775 million acquisition of Regent from a
consortium of investors.

"The 'B' ratings on Regent reflect our anchor of 'b', based on our
"weak" business risk and "highly leveraged" financial risk profile
assessments for the company.  "The modifiers had no impact on the
ratings, which reflect our view of Regent's limited product
diversity, customer concentration, and highly-leveraged financial
sponsor policy," said Standard & Poor's credit analyst Aniki Saha-
Yannopoulos.  We believe the company's strong Canadian market
share and robust profitability offset these weaknesses somewhat,"
S&P said.

Regent is a small Calgary-based oilfield service company that
generates about 80% of its revenue from Canada.  It has a leading
market position in providing slotted and seamed liners in the
Western Canadian Sedimentary Basin (WCSB); and provides other
products to enhance oil recovery in the heavy oil industry.
Following the transaction, Advent and management will fully own
Regent.  Pro forma the transaction, Regent will have about C$479
million in adjusted debt (S&P's adjustments include lease
adjustments of about C$12 million) and with 2014 forecast EBITDA,
S&P expects the company to have about 5.5x debt-to-EBITDA.

The stable outlook reflects S&P's view that Regent will maintain
its EBITDA margin at 55%-60% as it continues to benefit from
growth opportunities from the increased oil sands activity in
Canada.  S&P expects that, during our forecast period, debt-to-
EBITDA will improve below 5x through 2015 provided there are no
further acquisitions.

S&P could take a negative rating action if it believes that
Regent's business risk profile will weaken -- for example, due to
weakening operating efficiency or profitability.  Also, aggressive
financing of growth (for instance, through acquisitions) or
shareholder-friendly initiatives that increase leverage without
prospects for rapid deleveraging would lead S&P to revisit its
ratings and outlook.

A positive rating action, which S&P views unlikely in the next 12
months, would depend on an improving business risk profile or
financial risk profile significantly.  For example, if S&P expects
FFO-to-debt to improve to and stay above 30%, all else unchanged,
S&P could consider a positive rating action.  On the other hand,
if Regent were to diversify its product offerings dramatically,
S&P believes this could strengthen its overall business risk
profile sufficiently to support a 'B+' rating.  Moreover, S&P
would expect debt-to-EBITDA to remain below 5x while the company
improves its competitive position.


REICHHOLD INDUSTRIES: S&P Lowers CCR to 'CCC-'; Outlook Negative
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Durham, N.C.-based Reichhold Industries Inc. to 'CCC-'
from 'CCC'.  The outlook is negative.

At the same time, S&P lowered its issue rating on the company's
senior secured notes to 'CC' from 'CCC-'.  The recovery rating is
unchanged at '5', indicating S&P's expectation of modest (10% to
30%) recovery in the event of a default.

The downgrade of Reichhold Industries Inc. reflects the increasing
likelihood that continued weak operating performance and negative
cash flow will lead to a payment default or debt restructuring
before the end of 2014.  S&P believes that the company's severely
constrained liquidity makes it unlikely that it will be able to
make its November 2014 interest payment without a favorable change
in circumstances.

"The negative outlook reflects our expectation that continued
industry weakness and limited cost-structure flexibility will not
allow Reichhold to greatly improve operating performance in 2014,"
said Standard & Poor's credit analyst Seamus Ryan.  "We do not
expect the company to generate enough cash flow to provide
sufficient liquidity without a significant external infusion of
cash or other material positive event."

S&P could lower the ratings further if a missed interest payment
or distressed exchange appears imminent.

Given the company's current capital structure, S&P regards an
upgrade as unlikely.  However, S&P could consider higher ratings
if a significant infusion of liquidity or other material positive
event occurred.


RESIDENTIAL CAPITAL: Minn. Judge Rules on RFC Suit v. Americash
---------------------------------------------------------------
District Judge David S. Doty ruled on Americash's motion to
dismiss the amended complaint filed by Residential Funding
Company, LLC.

The dispute arises out of the sale of Americashunderwritten
mortgage loans to Residential Funding, which is engaged in the
acquisition and securitization of residential mortgage loans.  RFC
acquired loans from correspondent lenders, such as Americash, who
were responsible for collecting and verifying borrower information
and underwriting the loan.  Once underwritten, loans were sold to
RFC and then distributed in pools to be sold into residential
mortgage-backed securitization (RMBS) trusts or to whole loan
purchasers.

Americash and RFC entered into a "Client Contract", which
incorporated by reference the "Client Guide." These documents
collectively formed the parties' agreement.  Various versions of
the Client Guide were in effect at different times relevant to the
instant dispute.  Pursuant to the Contract, Americash made several
representations and warranties regarding the loans sold to RFC.
Failure to comply with such representations and warranties by
Americash constituted an "Event of Default" under the Agreement.
Further, the Agreement specified the remedies available to RFC if
an Event of Default occurred, including Americash's obligation to
indemnify RFC against liabilities resulting from such events.

Americash and RFC operated pursuant to the Agreement until May
2012.  Over time, many of the loans sold by Americash went into
default or became delinquent, resulting in losses by RFC in excess
of $18 million.  Americash repurchased some defective loans
pursuant to the Agreement.  RFC was sued in numerous actions
stemming from defective loans it had re-sold.  RFC filed for
Chapter 11 bankruptcy protection on May 14, 2012.  On December 17,
2013, the bankruptcy plan became effective.

On March 24, 2014, RFC filed an amended complaint, alleging claims
for (1) breach of warranties and (2) indemnification.

Americash moved to dismiss, arguing that RFC has failed to state a
claim for breach of warranties because it (1) fails to adequately
specify the warranties at issue, given the multiple versions of
the Client Guide and (2) fails to specifically allege the
breaches, loans and damages at issue.  Americash also argues that
the indemnification claim is untimely.  Specifically, Americash
argues that any indemnification obligation was triggered upon
Events of Default, which occurred outside of the applicable
limitations period.

Judge Doty ruled that RFC has sufficiently pleaded a plausible
breach of warranties claim, and dismissal is not warranted.  He
also said RFC's liability was not fixed upon Events of Default,
and the argument that an indemnification claim is barred by the
statute of limitations is without merit.  As a result, the
indemnification claim is timely, and dismissal is not warranted.

The case is, Residential Funding Company, LLC, Plaintiff, v.
Americash, Defendant, Civil No. 13-3460(DSD/JJG) (D. Minn.).  A
copy of Judge Doty's July 21, 2014 Order is available at
http://is.gd/MzVMkJfrom Leagle.com.

RFC is represented by:

     David Elsberg, Esq.
     QUINN, EMANUEL, URQUHART & SULLIVAN, LLP
     51 Madison Avenue, 22nd Floor
     New York, NY 10010

          - and -

     David L. Hashmall, Esq.
     FELHABER LARSON
     220 South Sixth Street, Suite 2200
     Minneapolis, MN 55402

Americash is represented by:

     Greg W. Chambers, Esq.
     American Mortgage Law Group PC
     75 Rowland Way, Suite 350
     Novato, CA 94945

          - and -

     Richard C. St. John, Esq.
     MUNGER, TOLLES & OLSON
     355 South Grand Avenue, Suite 3500
     Los Angeles, CA 90071

                     About Residential Capital

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

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

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

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

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

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

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

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


RESIDENTIAL CAPITAL: Claims Against Mortgage Access Survives
------------------------------------------------------------
Minnesota District Judge David S. Doty declines the request of
Mortgage Access Corporation, doing business as Weichert Financial
Services, to dismiss the claims against it asserted by Residential
Funding Company, LLC, for (a) breach of warranties and (b)
indemnification.

The case is, Residential Funding Company, LLC, Plaintiff, v.
Mortgage Access Corp., doing business as Weichert Financial
Services Defendant, Civil No. 13-3499(DSD/FLN) (D. Minn.).  A copy
of the Court's July 21, 2014 Order is available at
http://is.gd/T2Njplfrom Leagle.com.

The Defendant is represented by:

     Greg W. Chambers, Esq.
     AMERICAN MORTGAGE LAW GROUP PC
     75 Rowland Way, Suite 350
     Novato, CA 94945

          - and -

     Carol R.M. Moss, Esq.
     HELLMUTH & JOHNSON, PLLC
     8050 West 78th Street
     Edina, MN 55439

                     About Residential Capital

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

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

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

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

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

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

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

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


RESIDENTIAL CAPITAL: Wells Fargo Fails to Dismiss Lawsuit
---------------------------------------------------------
Minnesota District Judge David S. Doty denied the motion by
defendant Wells Fargo Bank, N.A. successor by merger to defendant
SouthTrust Mortgage Corporation, to dismiss the amended complaint
filed against them by Residential Funding Company, LLC.

The case is, Residential Funding Company, LLC, Plaintiff, v.
SouthTrust Mortgage Corporation and Wells Fargo Bank, N.A.,
Defendants, Civil No. 13-3524(DSD/JJG) (D.Minn.).  A copy of the
Court's July 21, 2014 Order is available at http://is.gd/EWEzFp
from Leagle.com.

Wells Fargo is represented by:

     Greg W. Chambers, Esq.
     American Mortgage Law Group PC
     75 Rowland Way, Suite 350
     Novato, CA 94945

          - and -

     Richard C. St. John, Esq.
     MUNGER, TOLLES & OLSON
     355 South Grand Avenue, Suite 3500
     Los Angeles, CA 90071

                     About Residential Capital

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

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

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

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

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

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

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

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


RESIDENTIAL CAPITAL: Macks' QWR Claim Survives
----------------------------------------------
Barry and Cheryl Mack bought a home in Florida in 2006.  By 2009,
they realized that they could no longer afford their mortgage
payments.  They contacted their loan servicer -- GMAC Mortgage LLC
-- to obtain a loan modification.  Rather than working out a
modification with the Macks, GMACM started foreclosure proceedings
and hired a notorious Florida attorney (since disbarred) to bring
the foreclosure action in the name of Deutsche Bank Trust Company
Americas, the trustee of the securitization trust that owned the
Macks' loan.  But the Macks had not defaulted on their loan
payments.

GMACM claims that when it learned of the "accidental" foreclosure
action, it instructed its attorney to withdraw the action.  The
attorney neglected to withdraw the case, so it continued.
Meanwhile, the Macks repeatedly contacted GMACM to ask who
Deutsche Bank was, when Deutsche Bank obtained an interest in the
Macks' loan, and why the foreclosure was proceeding at all. GMACM
failed to respond to at least one of the Macks' inquiries and in
other instances told the Macks that the foreclosure was a mistake
and should be ignored. But the foreclosure case carried on.

The Macks filed counterclaims against Deutsche Bank in the
foreclosure action. The attorney GMACM hired to bring the
foreclosure action defaulted on the counterclaims. A final
judgment awarding the Macks damages against Deutsche Bank was
entered, but then partially vacated.  GMACM was not a party to the
action, although it caused it to be commenced and didn't stop it
from continuing.  The Macks collected a damages award from
Deutsche Bank in the amount of $321,970.77, plus attorneys' fees,
after the initial judgment in the amount of $446,920.05 was
reduced.

The real horror of these events is that in October 2009, during
the pendency of the foreclosure action, Mrs. Mack overdosed on
sleeping pills, allegedly from the stress from the prospect of
losing her home.  She suffered severe kidney damage; and as a
result of kidney damage, she died in October 2013.  The Macks'
initial judgment on the counterclaims against Deutsche Bank
included recovery on a claim under the Real Estate Settlement
Procedures Act, 12 U.S.C. Sec. 2601, et seq., among other things,
for non-economic damages attributed to Mrs. Mack's pain and
suffering (she didn't die until after the Macks collected their
judgment against Deutsche Bank).

GMACM remained an uninformed and apparently uninterested bystander
throughout those proceedings.  When Deutsche Bank finally learned
about the judgment and moved to vacate it, the trial court vacated
the portion of the judgment based on the RESPA claim, concluding
that the Macks could not maintain a cause of action against
Deutsche Bank for violation of RESPA.

Before the deadline for filing proofs of claim in GMACM and its
affiliates' bankruptcy cases, the Macks filed proof of claim
number 386 against GMACM, alleging more than $30 million in
damages resulting mostly from the same conduct at issue in the
counterclaims against Deutsche Bank.  Mack's counsel recognizes
that his surviving client cannot recover twice for the same
injury.

According to Bankruptcy Judge Martin Glenn, to the extent the
claims and damages against Deutsche Bank and GMACM overlap, they
are barred by res judicata.

But Mack also alleges one new theory of liability against GMACM
for which the Macks did not recover damages from Deutsche Bank.
Mack alleges that GMACM -- the loan servicer -- violated RESPA by
failing to respond to a qualified written request ("QWR"), a claim
that could not be asserted against Deutsche Bank.  Mack seeks to
recover non-economic damages from GMACM that the Macks were unable
to recover from Deutsche Bank, including for the harm that
allegedly ultimately resulted in Mrs. Mack's death.

Judge Glenn acknowledges that the issue whether a plaintiff can
recover non-economic damages from a loan servicer under RESPA has
divided the courts, and there is no controlling authority in this
Circuit.

"Even assuming that such damages may be recovered under RESPA,
Mack may have a difficult time proving causation and damages --
the RESPA violation identified by Mack occurred fairly late in the
very bad chain of events in this case.  The ResCap Borrower Claims
Trust argues that the RESPA claim is barred by res judicata; that
part is easy -- the RESPA claim is not barred.  While the Court
reserves the ability to revisit the issue of recovery of non-
economic harm for a RESPA violation before this claim is fully
resolved, the Court concludes below that Mack can proceed with his
claim for non-economic damages from GMACM for violation of RESPA.
Other portions of the Claim are barred by res judicata.  The Court
therefore SUSTAINS IN PART AND OVERRULES IN PART the Objection to
the Macks' proof of claim."

According to Judge Glenn, GMACM's Claim Objection is sustained
with respect to the portions of the Claim arising from the
initiation of the Foreclosure Action, including allegations of (1)
personal injury, (2) wrongful death, (3) malicious prosecution,
(4) intentional infliction of emotional distress, and (5) failure
under RESPA to notify the Macks of a transfer of servicing of
their Loan.  But Mack has alleged a plausible RESPA claim for
GMACM's failure to respond to the October 2009 QWR. The Court will
deem the Proof of Claim amended to include the QWR Claim, and the
Objection to that part of the Claim is overruled. To receive any
damages for the QWR Claim, Mack must demonstrate how the requested
damages arise from GMACM's failure to respond to the QWR as
opposed to its initiation of the Foreclosure Action. This may be
difficult, but Mack is entitled to make his case.

Counsel for the parties are directed within 14 days from July 24
to confer by telephone about the possibility of settlement, or
entering into mediation.  The Court will hold a case management
and scheduling conference, by telephone, on August 13, 2014, at
2:00 p.m. (Eastern Standard Time).

A copy of Judge Glenn's July 24 Memorandum Opinion and Order is
available at http://is.gd/R9EniLfrom Leagle.com.

David F. Garber, Esq., at David F. Garber, P.A., in Naples,
Florida, represents the Mack Creditors.

                     About Residential Capital

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

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

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

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

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

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

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

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


RIVER CITY RESORT: Frankenberg Lawsuits Remanded to State Court
---------------------------------------------------------------
Bankruptcy Judge Shelley D. Rucker granted, in part, and denied,
in part, the request to remand to state court a contract lawsuit
filed by Paul J. Frankenberg, III.  Judge Rucker also granted the
request to remand to state court a fraudlent transfer suit also
commenced by Frankenberg.

Paul J. Frankenberg, III on December 30, 2005, commenced an action
in the Chancery Court of Hamilton County, Docket No. 05-1271,
naming River City Resort, Inc., and B. Allen Casey as defendants.
In that Contract Case, Frankenberg sought recovery of compensation
for services rendered to RCR as an officer and damages against RCR
and Casey for breach of a settlement agreement, which required the
settlement obligations to be secured by security interests in some
or all of RCR's property. He also requested an attachment of the
property of RCR to secure any judgment.

Before the Contract Case had been heard, on June 13, 2012,
Frankenberg filed a second case in the Chancery Court of Hamilton
County, Tennessee, against RCR and Casey, and added S. Jackson
Wingfield and River House Trust, LLC as defendants.  Frankenberg
alleged that, in 2008, RCR and Casey had transferred three lots of
real property owned by RCR or a subsidiary for less than
reasonably equivalent value while RCR was insolvent with the
intent to defraud RCR's creditors.  Based on his status as a
creditor of RCR, Frankenberg claimed that the transfer was
fraudulent and should be avoided. If the transfer were avoided, he
also contended that his claims should be protected by a lien on
the real property in order to fulfill the promises made to him by
Casey and RCR.

The two cases were to be tried together in Chancery Court in July
2014.  On February 24, 2014, RCR filed a Chapter 11 voluntary
petition.  Two days later, Casey filed a voluntary Chapter 7
petition.  Richard P. Jahn was employed as trustee, but due to a
conflict, was later replaced by Douglas R. Johnson on May 29,
2014.

On March 19, 2014, RCR and Casey filed an adversary proceeding
against Frankenberg and Wingfield and a Notice of Removal removing
the Contract Case to the Bankruptcy Court.  That same day RCR and
Casey filed a second adversary proceeding against Frankenberg and
Wingfield removing the Fraudulent Transfer Case to the bankruptcy
court.

On April 14, 2014, Wingfield filed a Motion for Remand in each
adversary proceeding.  Although Wingfield was named in only the
Fraudulent Transfer Case in Chancery Court, he received a summons
and a copy of the Contract Proceeding Complaint and has responded
out of an abundance of caution.  The court heard oral argument on
May 22, 2014 on the motions.

As to the Contract Proceeding, RCR challenges Wingfield's standing
to file a motion for remand.

In a July 24 Memorandum available at http://is.gd/NJPbQGfrom
Leagle.com, Judge Rucker held that the Contract Proceeding will be
remanded to the Chancery Court of Hamilton County for
determination of claims and counterclaims contained therein.  To
the extent that the Chancery Court awards a judgment and/or
equitable lien against any property owned by RCR or Casey, the
execution on such judgment remains stayed.  Further, the extent
and priority of any lien granted will be determined by the
Bankruptcy Court.  In addition, the court will grant the motion to
remand the Fraudulent Transfer Proceeding to the Chancery Court.

Judge Rucker said the proceedings are closely related and that the
success of the Fraudulent Transfer Proceeding is dependent upon a
finding in the Contract Proceeding that Frankenberg was a creditor
at the time of the transfers.

The cases before the Bankruptcy Court are, RIVER CITY RESORT,
INC., and B. ALLEN CASEY, JR., Plaintiffs, v. PAUL FRANKENBERG,
III, and S. JACKSON WINGFIELD, III, Defendants; and RIVER CITY
RESORT, INC., and B. ALLEN CASEY, JR., Plaintiffs, v. PAUL
FRANKENBERG, III, and S. JACKSON WINGFIELD, III, Defendants, Adv.
Proc. Nos. 14-01027., 14-01028 (Bankr. E.D. Tenn.).

                      About River City Resort

River City Resort, Inc., which formerly does business as Showboat
Suites, Inc., filed for Chapter 11 bankruptcy protection (Bankr.
E.D. Tenn. Case No. 14-10745) on Feb. 24, 2014.  River City Resort
owns a portion of a tract of property on the Tennessee River where
a rundown barge is moored across from the Tennessee Aquarium.

Judge Shelley D. Rucker presides over the case.  David J. Fulton,
Esq., at Scarborough, Fulton & Glass, represents the Chattanooga,
Tenn.-based Company.

In its petition, River City estimated $1 million to $10 million in
both assets and debts.  The petition was signed by Allen Casey,
president.

Mr. Casey on Feb. 26, 2014, filed a Chapter 7 bankruptcy petition
in U.S. Bankruptcy Court in Chattanooga, Tenn., estimating assets
of $50,000 or less, and liabilities between $1 million and $10
million.


ROOFING SUPPLY: S&P Revises Outlook to Neg. & Affirms 'B' CCR
-------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its rating
outlook on Roofing Supply Group LLC to negative from stable.  At
the same time, S&P affirmed its 'B' corporate credit rating and
all debt ratings on the company.

The negative outlook reflects in part the company's modest
underperformance in early 2014 compared to previous projections
and the potential for continued softening in the roofing industry
over the intermediate term, due in part to a slowing in the
replacement cycle of roofs and uncertain consumer confidence.  S&P
expects this to result in lower cash flow generation and margins,
leading to an increase in the company's debt-to-EBITDA ratio to
7.8x for 2014.  Despite an increase in leverage, the company
exhibits strong liquidity, with a favorable debt maturity schedule
and a coverage ratio of 2x.

"The negative outlook reflects the potential for a downgrade
within one year if Roofing Supply Group's underperformance and
margin erosion persists, further increasing leverage ratios and
decreasing coverage ratios," said Standard & Poor's credit analyst
Pablo Garces.

S&P could lower the ratings on Roofing Supply Group if roof
replacement demand were to deteriorate significantly, either due
to a lack of storm activity or continued slow growth in housing
starts; if profitability were to decline because of severe price
competition among distributors, resulting in the company's
interest coverage falling below 1.25x and/or leverage rising above
8x; or if liquidity became constrained due to an unexpected
contraction in the company's ABL revolving credit availability.

S&P would revise its outlook to stable if leverage dropped to less
than 6x.  This could occur if roofing sales improve because of
better consumer confidence and a stronger new housing recovery.


SHERIDAN HEALTHCARE: S&P Withdraws 'B' CCR Over Amsurg Deal
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'B' corporate
credit rating on U.S.-based physician outsourcing provider,
Sheridan Healthcare Inc., along with the issue-level ratings on
its debt.  Amsurg Corp. completed its acquisition of Sheridan and
repaid all of Sheridan's debt in full.


SHILO INN: Gets Court Approval to Hire Green & Markley
------------------------------------------------------
Shilo Inn, Twin Falls, LLC received court approval to hire Green &
Markley, P.C. as its special litigation counsel effective as of
April 4.

The firm will represent the company and its affiliated debtors in
district court lawsuits by California Bank & Trust for foreclosure
on their property.

                    About Shilo Inn, Twin Falls

Shilo Inn, Twin Falls, LLC, and six affiliates filed a Chapter 11
petition (Bankr. C.D. Cal. Case No. 13-21601) on May 1, 2013.
Judge Richard M. Neiter presides over the case.  Shilo Inn, Twin
Falls, estimated assets of at least $10 million and debts of at
least $1 million.

Shilo Inn, Twin Falls; Shilo Inn, Nampa Blvd, LLC; Shilo Inn,
Newberg, LLC; Shilo Inn, Seaside East, LLC, Shilo Inn, Moses Lake,
Inc.; and Shilo Inn, Rose Garden, LLC each operates and owns a
hotel.  California Bank and Trust is the primary, senior secured
lender for each of the Debtors.

The Debtors sought Chapter 11 protection after CBT on May 1, 2013,
filed for receiverships in district court.

David B. Golubchick, Esq., Kurt Ramlo, Esq., and J.P. Fritz, Esq.,
at Levene, Neale, Bender, Yoo & Brill LLP, in Los Angeles,
represent the Debtors in their restructuring effort.

The Debtors' Joint Plan of Reorganization dated Aug. 29, 2013,
provides for payment of all claims in full, unless otherwise
agreed with the claimholder, with unsecured claims to be paid over
a three-month period from the Plan Effective Date.


SOMERSET HILLS: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                   Case No.
     ------                                   --------
     Somerset Hills Residential Treatment     14-25202
     Center, Inc.
     1275 Boundbrook Road, Suite 1
     Middlesex, NJ 08846

     Somerset Hills School, Inc.              14-25204
     1275 Boundbrook Road, Suite 1
     Middlesex, NJ 08846

Chapter 11 Petition Date: July 25, 2014

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Hon. Christine M. Gravelle

Debtors' Counsel: John S. Mairo, Esq.
                  PORZIO, BROMBERG & NEWMAN, P.C.
                  100 Southgate Parkway
                  Morristown, NJ 07962-1997
                  Tel: 973-538-4006
                  Fax: 973-538-5146
                  Email: jsmairo@pbnlaw.com

                                 Estimated    Estimated
                                   Assets    Liabilities
                                 ----------  -----------
Somerset Hills Residential       $0-$50,000   $1MM-$10MM
Somerset Hills School, Inc.      $100K-$500K  $1MM-$10MM

The petitions were signed by Ryan Kimmins, president.

A list of Somerset Hills Residential's nine largest unsecured
creditors is available for free at:

         http://bankrupt.com/misc/njb14-25202.pdf

A list of Somerset Hills School, Inc.'s 20 largest unsecured
creditors is available for free at:

         http://bankrupt.com/misc/njb14-25204.pdf


SOURCE HOME: Has Court's Final Nod to Use Cash Collateral
---------------------------------------------------------
The Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware entered on July 22, 2014, a final order authorizing
Source Home Entertainment, LLC, and its debtor affiliates to use
cash collateral until 120 calendar days after the closing date.

A copy of the budget is available for free at:

   http://bankrupt.com/misc/SOURCEINTERLINK_162_cashcollord.pdf

As reported by the Troubled Company Reporter on June 26, 2014, the
Debtors sought authorization from the Court to use the cash
collateral of their term loan lenders.  The Debtors need cash
collateral to (a) continue their orderly wind down process and pay
their employees in connection therewith, and to (b) procure goods
and services from vendors, pay their employees, and satisfy other
working capital needs in the ordinary course of their remaining
manufacturing business.

The Debtors owe $51.9 million under their term loan facility with
Cortland Capital Market Services, LLC, as administrative and
collateral agent.  Obligations arising under the term loan
facility are secured by substantially all of the Debtors' assets.

As adequate protection for any postpetition diminution in value of
each agent's interests, each agent, for the benefit of itself and
the term loan lenders, the revolving lenders, or any other secured
parties, is granted: (i) additional and replacement valid,
binding, enforceable, non-avoidable, and automatically perfected
postpetition security interests in and liens on any and all
presently owned and hereafter acquired personal property, real
property, and all other assets of the Debtors; (ii) an allowed
administrative expense claim in the cases ahead of and senior to
any and all other administrative claims in the cases to the extent
of any postpetition first lien diminution in value; and (iii) an
allowed administrative expense claim in the cases ahead of any and
all other administrative claims in the cases to the extent of any
postpetition second lien diminution in value.

As further adequate protection, (a) the Debtors will pay to each
agent, for the benefit of itself and the term loan lenders or the
revolving lenders, reasonable attorney's fees and expenses,
whether incurred before or after the Petition Date, of the term
loan agent and the term loan lenders or the revolving credit
facility agent, to the extent provided under the term loan credit
documents or the revolving credit documents, as applicable and (b)
the revolving credit facility agent will be authorized to apply
cash collateral on deposit to any interest, fees, costs and
expenses, due and owing by the Debtors to the revolving credit
facility agent and revolving lenders to the extent provided by and
in accordance with the revolving credit documents, without further
court order.

Creditors' Panel Objected to Cash Collateral Use

On July 17, 2014, the Official Committee of Unsecured Creditors
filed with the Court an objection to the Debtors' motion for entry
of interim and final orders authorizing postpetition cash
collateral.  The Committee alleged that certain provisions of the
interim order are unduly prejudicial to the interests of unsecured
creditors and, therefore, should be stricken or modified in any
final order authorizing the Debtors' use of cash collateral.

The Committee claimed that the interim order, and the final order
as proposed, would severely restrict rights of the Committee to
obtain meaningful information about the Debtors' businesses, to
conduct a full investigation of potential claims and to
participate in the sale and plan process.  "The terms of the
proposed Final Order are onerous and seek to marginalize the
unsecured creditors in these cases."

The Committee requested that, among other things, the final order
(i) grant the Committee a challenge period of not less than 120
days from its receipt of all credit, security and restructuring
documents, the October 2013 restructuring, and all other
agreements and documents necessary to complete the investigation,
and, if appropriate, to contest the nature, extent, validity and
priority of the secured parties' liens or to bring other actions,
(ii) remove any cap on fees and expenses for investigation of
security interests, liens, the October 2013 Restructuring and
other transactions involving the Secured Parties, and (iii) grant
the Committee standing to bring Challenges.

The Committee required sufficient time and resources to, among
other things, scrutinize the sale process, purported liens and
prepetition transactions, including the so-called October 2013
Restructuring.

A copy of the Committee's objection is available for free at:

   http://bankrupt.com/misc/SOURCEINTERLINK_122_cashcollobj.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 HOME: Creditors Blast $24M Sale Plan
-------------------------------------------
Law360 reported that the Official Committee of Unsecured Creditors
in Source Home Entertainment LLC's bankruptcy balked over the
magazine wholesaler's $24 million sale plan for its retail display
business, arguing that it's too rushed and claiming that the
stalking horse bidder in the asset sale is actually a controlling
insider.  According to the report, in a motion before the Delaware
bankruptcy court, the official committee of unsecured creditors
called Source Home's sale plan "unnecessarily aggressive," lasting
only eight weeks from petition date to bid deadline even though
there had been no assertion that the assets' value will
deteriorate over time.

                 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.


SPECIALTY HOSPITAL: Taps Cain Brothers as Investment Banker
-----------------------------------------------------------
Specialty Hospital of Washington and its debtor-affiliates ask the
U.S. Bankruptcy Court for the District of Columbia for permission
to employ Cain Brothers & Company LLC as their investment banker.

The firm is expected to:

  a) develop a strategy for a sale of substantially all of the
     Debtors' assets under section 363 of the Bankruptcy Code;

  b) assist the Debtors, and its bankruptcy counsel, in drafting
     auction procedures and stalking horse bid protections;

  c) identify potential transaction parties;

  d) prepare marketing materials;

  e) coordinate and assist with the delivery of marketing
     materials and monitoring the electronic data room; in each
     case, with those pre-approved parties that have indicated a
     certain level of interest acceptable to the Debtors;

  f) coordinate and assist with potential transaction parties' due
     diligence process;

  g) assist the Debtors in securing postpetition financing;

  h) coordinate and assist in managing the auction process,
     including reviewing and analyzing all indications of interest
     and proposals the Debtors' receive and assisting in
     negotiations to obtain additional bids;

  i) review and comment on transaction documents, including bid
     procedures motions, postpetition financing motions, letters
     of intent, term sheets, purchase and sale agreements,
     buy/sell agreements, employment agreements, confidentiality
     agreements and other similar agreements; and

  j) assist in securing final approval from this Court of the sale
     of substantially all of the Debtors' assets to the stalking
     horse bidder or the successful bidder of the court-approved
     auction.

The firm will be compensated in this manner:

  a) Monthly Fees: A monthly fee of $20,000 payable in advance
                   beginning with the first month subsequent to
                   the execution of the engagement letter.

  b) Postpetition  If the Debtors enter into a postpetition
     Financing     financing agreement with a party other than
     Fee:          BB&T, then the Debtors shall pay Cain
                   Brothers in cash, upon closing of the
                   transaction, a financing fee of 1% of the
                   postpetition financing commitment.

  c) Transaction   If a "Transaction" is consummated, then the
     Fee:          Debtors shall pay Cain Brothers in cash,
                   upon the closing of such Transaction, a minimum
                   transaction fee of $750,000.  If the value of
                   the Transaction exceeds $37.5 million, then the
                   Debtors shall pay an additional fee of 2% of
                   the aggregate value between $37.5 million and
                   $50 million, plus 3.5% of the aggregate value
                   over $50 million.  The Transaction Fee is net
                   of any previously paid retainer and up to six
                   months of the Monthly Fees.

Before filing for bankruptcy, the Debtors paid the firm $85,000 in
fees and $8,288 in expenses.  Specifically, the Debtors paid the
firm three monthly fees and a $25,000 retainer.

Michael Zarriello assures the Court that the firm is a
"disinterested person" within the meaning of Section 101(14) of
the Bankruptcy Code.

                    About Specialty Hospital

Specialty Hospital of America LLC operates nursing home
facilities and long-term acute care hospitals.

On April 23, 2014, an involuntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 14-
10935) was filed against Specialty Hospitals of Washington, LLC
("SHDC").

Capitol Hill Group and five other alleged creditors who signed the
involuntary bankruptcy petition are represented by Stephen W.
Spence, Esq., at Phillips, Goldman & Spence, in Wilmington,
Delaware.  Capitol Hill Group claims to be owed $1.66 million on a
lease for non-residential real property while another creditor,
Metropolitan Medical Group, LLC, claims $837,000 for physician
services.  The petitioners assert $2.69 million in total claims.

On May 9, 2014, the Delaware court transferred the case to
Washington, D.C. (Bankr. D.C. Case No. 14-00279).

On May 21, 2014, SHDC filed an answer and consent for relief under
Chapter 11.  Also on May 21, six affiliates of SHDC, including
Specialty Hospital of America, LLC filed for Chapter 11
protection.  The U.S. Bankruptcy Court entered an order directing
the joint administration the cases under Specialty Hospital of
Washington, LLC, Case No. 14-00279.

The Debtors announced plans to sell all of their assets in
exchange for a $15 million debtor-in-possession loan from Silver
Point Capital, which will allow the Debtors to continue operating
through the bankruptcy process.

Specialty Hospital of America estimated between $10 million and
$50 million in assets and between $50 million and $100 million in
liabilities in its bankruptcy petition.

The Debtors are represented by Pillsbury Winthrop Shaw Pittman LLP
as counsel.  Alvarez and Marsal Healthcare Industry Group, LLC,
serves as the Debtors' financial advisor.  Cain Brothers &
Company, LLC, is the Debtors' investment banker.

The U.S. Trustee has named three members to the Official Committee
of Unsecured Creditors.




SPEEDEMISSIONS INC: IBC Funds Reports 9.9% Equity Stake
-------------------------------------------------------
In a Schedule 13G filed with the U.S. Securities and Exchange
Commission, IBC Funds LLC disclosed that as of Dec. 11, 2013,
it beneficially owned 3,987,522 shares of common stock of
Speedemissions, Inc., representing 9.9 percent of the shares
outstanding.  A full-text copy of the regulatory filing is
available for free at http://is.gd/4Jp7Gr

                        About Speedemissions

Tyrone, Georgia-based Speedemissions, Inc., is a test-only
emissions testing and safety inspection company.


Speedimissions reported a net loss of $814,482 in 2013 and a net
loss of $656,037 in 2012.  As of March 31, 2014, the Company had
$2.61 million in total assets, $2.57 million in total liabilities,
$4.57 million in series A convertible redeemable preferred stock
and and $4.53 million total shareholders' deficit.


SPORTSMAN'S OUTFITTERS: Case Summary & 20 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Sportsman's Outfitters, L.L.C.
        1975 Ross Clark Circle
        Dothan, AL 36301

Case No.: 14-11424

Chapter 11 Petition Date: July 25, 2014

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

Judge: Hon. Dwight H. Williams Jr.

Debtor's Counsel: Collier H. Espy, Jr., Esq.
                  ESPY, METCALF & ESPY, P.C.
                  P.O. Drawer 6504
                  326 North Oates Street
                  Dothan, AL 36302-6504
                  Tel: 334-793-6288
                  Email: kc@espymetcalf.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Tom M. Freeman, Jr., member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/almb14-11424.pdf


STAR DYNAMICS: Exclusive Plan Filing Period Extended to Oct. 6
--------------------------------------------------------------
The Hon. Charles M. Caldwell of the U.S. Bankruptcy Court for the
Southern District of Ohio has extended, at the behest of Star
Dynamics Corporation, the Debtor's exclusive period to file a
Chapter 11 plan by an additional 90 days through and including
Oct. 6, 2014, and its exclusive period to solicit acceptance of
the plan by an additional 90 days through and including Dec. 8,
2014.

The Debtor asked for the extension as it believes it will not be
in a position to propose any plan of reorganization until the sale
process has concluded, a sale has been approved by the Court, and
the issues in the adversary proceeding are resolved.

Richard K. Stovall, Esq., at Allen Kuehnle Stovall & Neuman LLP,
the attorney for the Debtor, related that the Debtor has continued
to market a sale of its assets to potential buyers and interested
parties have submitted indications of interest.  Necessary due
diligence conducted by qualified purchasers is an ongoing and
intensive process, Mr. Stovall explained.  Once the due diligence
process is complete, the Debtor anticipates that final, binding
proposals will be submitted.

In addition to conducting due diligence, the Debtor believes it is
necessary for certain of those matters at issue in its adversary
proceeding against BAE Systems Technology Solutions & Services,
Inc., be resolved, as the determination of the matters may impact
the sale process.  The parties have had multiple conferences with
the Court and conducted significant discovery, all of which has
been undertaken with an eye towards trial.

STAR Dynamics Corp. develops, sales, and services instrumentation
radar systems for missile test ranges utilized by the United
States and foreign governments.  Located principally in Hilliard,
Ohio, with satellite offices in Herndon, Virginia and Sandestin
Florida, it has 112 full-time employees.

STAR Dynamics filed a petition for Chapter 11 protection (Bankr.
S.D. Ohio Case No. 13-59657) on Dec. 10, 2013, in Columbus, Ohio,
in part to halt a lawsuit by BAE Systems Plc.

According to its first-day motions and as of Nov. 30, 2013, it has
assets of $28,470,788.13, liabilities of $50,892,360.12 and gross
sales of $8,140,140.93.  In its schedules, the Debtor listed
$12,138,334 in total assets and $50,740,343 in total liabilities.

BAE is an American subsidiary of a global-level defense contractor
based in Great Britain, with more than 50,000 employees world-
wide.  BAE has its headquarters in Arlington, Virginia, and like
the Debtor, is engaged in the radar range business for the testing
of missiles and other weaponry.

Bankruptcy Judge Charles M. Caldwell oversees the case.  Thomas R.
Allen, Esq., Richard K. Stovall, Esq., and Erin L. Pfefferle,
Esq., at Allen Kuehnle Stovall & Neuman LLP serve as the Debtor's
bankruptcy counsel.  Michael J. Sullivan, Esq., Russell A.
Williams, Esq., Julie E. Adkins, Esq., Louis T. Isaf, Esq., and
Nanda K. Alapati, Esq., at Womble Carlyle Sandridge & Rice LLP,
serve as special counsel with respect to litigation involving BAE
Systems and with respect to the completion of prepetition patent
work.  Sagent Advisors LLC serves as financial advisor.


STEEL DYNAMICS: S&P Puts 'BB+' CCR on CreditWatch Negative
----------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings, including
its 'BB+' corporate credit rating, on Fort Wayne, Ind.-based Steel
Dynamics Inc. on CreditWatch with negative implications.

The CreditWatch negative listing follows Steel Dynamics'
announcement that it will acquire Severstal Columbus, a steel
production mini-mill, for $1.625 billion.

S&P estimates that the transaction could weaken Steel Dynamics'
credit measures over at least the next year, with pro forma
leverage, as measured by debt to EBITDA, exceeding S&P's
previously expected 2014 year-end leverage of about 3x.

"We will resolve the CreditWatch listing following our review of
the financing details of the pending transaction and implications
for Steel Dynamic's business and financial risk profiles," said
Standard & Poor's credit analyst Funmi Afonja.  "Upon completion
of our review, we could leave the ratings unchanged or lower them.
Based on preliminary information, we believe that if we were to
lower the ratings, the downgrade would not exceed one notch," she
added.


STUART AULD: Must Pay Bankruptcy Filing Fee by Aug. 11
------------------------------------------------------
Kansas Bankruptcy Judge Dale L. Somers issued a series of orders
in the personal Chapter 11 case of Stuart Auld.

Judge Somers denied the Debtor's request for extension of the time
to pay in full the Chapter 11 filing fee.  The Court earlier
allowed the Debtor to pay the filing fee in installments, with
payment in full within 120 days of the petition date -- or until
Aug. 11, 2014.  The Debtor now seeks a 60-day extension.

At a hearing, the Debtor acknowledged that since filing for
bankruptcy he has engaged in "recreational gambling," an
unapproved use of the Debtor's cash.

Judge Somers said that money should have been used to pay the
filing fee.

Judge Somers directed the Debtor to pay the filing fee in full by
Aug. 11, 2014.  The judge also said the Debtor's motion for
extension of time to file notice of appeal is denied as
unnecessary.

A copy of the Court's July 23 Memorandum Opinion and Order is
available at http://is.gd/dSQpqTfrom Leagle.com.

Judge Somers also denied the Debtor's motion asking the Court to
reconsider a June 11, 2014 Memorandum Opinion and Order granting,
among other things, relief from stay.  John W. Auld, Jr., as
Trustee of the John William Auld, Sr. Revocable Trust Agreement
dated November 30, 2007; Sun West Mortgage Company, Inc.; Sheila
D. Verduzco; Summers Law Firm, LC; Charles Hammond; and Charles
Hammond Law Firm filed separate objections to the Motion to
Reconsider.  A copy of the Court's July 23 Memorandum Opinion And
Order Denying Debtor's Motion To Reconsider is available at
http://is.gd/hGCgGVfrom Leagle.com.

Judge Somers also issued on July 23 a "Memorandum Opinion And
Order Denying Debtor's Motion To Strike Or Disregard As Untimely
Filed Movants' Memorandum(S) Brief", a copy of which is availble
at http://is.gd/CDhVtpfrom Leagle.com; and a "Memorandum Opinion
And Order Denying Debtor's Motion In Limine As Moot", a copy of
which is available at http://is.gd/nOsA2Vfrom Leagle.com.


TANGLEWOOD FARMS: Ch.7 Trustee May Recoup $33,500 From Dr. Morris
-----------------------------------------------------------------
James B. Angell, the Chapter 7 Trustee for Tanglewood Farms, Inc.
of Elizabeth City, sued Dr. Jesse John Morris to recover
$109.945.21 in transfers made by the Debtor to Dr. Morris alleging
that the Debtor did not receive reasonably equivalent value.  In a
July 24, 2014 Order available at http://is.gd/29grXbfrom
Leagle.com, Bankruptcy Judge Randy D. Doub holds that the Debtor
did receive reasonably equivalent value in the amounts of the
$50,000.00 transfer to Debtor for operating expenses and
$26,429.35 to River City Enterprises to pay the Debtor's
obligation for a total of $76,429.35.  Therefore the Court awards
to the Trustee $33,515.86, the difference between the $109,945.21
sought by the Trustee and $76,429.35 for which the Debtor received
reasonably equivalent value.

The case is, JAMES B. ANGELL, TRUSTEE, PLAINTIFF, v. JESSE JOHN
MORRIS, DEFENDANT, Adv. Proc. No. 12-00214-8-RDD (Bankr.
E.D.N.C.).

                   About Tanglewood Farms, and
               James Howard and Billie Reid Winslow

Based in Elizabeth City, North Carolina, Tanglewood Farms, Inc.
of Elizabeth City filed for Chapter 11 bankruptcy protection on
August 20, 2010 (Bankr. E.D.N.C. Case No.10-06719).  Trawick H.
Stubbs, Jr., Esq., at Stubbs & Perdue, P.A., represents the
Debtor.  The Debtor estimated assets between $1 million and
$10 million, and debts between $10 million and $50 million.

The debtor, a granary operation in Pasquotank County, North
Carolina, was operated by its president and sole shareholder,
James Howard Winslow.  In that capacity, Mr. Winslow oversaw and
made operational decisions regarding the granary and facilitated
the exchange of corn, wheat, and soybeans between the debtor,
Winslow Farms, Mr. Winslow's personal farming operation, and other
local farmers.

James H. Winslow and his wife, Billie Reid Winslow, filed for
Chapter 11 (Bankr. E.D.N.C. Case No. 10-06745) on Aug. 23, 2010.

The Court denied a request to consolidate the Winslows' individual
case with the debtor's case on Feb. 18, 2011.

The Tanglewood Farms case was converted to one under chapter 7 on
July 12, 2011.  James B. Angell serves as Chapter 7 trustee.


TESLA ELECTRIC: Case Summary & 75 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Tesla Electric Armature and Machine
        735 Lane Ave
        Jacksonville, FL 32254

Case No.: 14-03599

Chapter 11 Petition Date: July 25, 2014

Court: United States Bankruptcy Court
       Middle District of Florida (Jacksonville)

Debtor's Counsel: Robert W. Elrod, Jr.
                  ROBERT W. ELROD, P.A.
                  233 East Bay Street Suite 1032
                  Jacksonville, FL 32202
                  Tel: 904-356-1282
                  Email: rwelrod2@aol.com

Total Assets: $611,574

Total Liabilities: $2.75 million

The petition was signed by Ken Brown, chairman.

A list of the Debtor's 75 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flmb14-03599.pdf


TEXAS STAR: Ch.7 Trustee May Auction Off Wilsons' Stake
-------------------------------------------------------
Bankruptcy Judge Robert J. Jones authorized Myrtle McDonald, the
chapter 7 trustee for the estate of debtors Rodney Wayne Wilson
and Donna Lynn Wilson, to sell by auction 200 membership units of
Texas Star Refreshments, LLC, which units are evidenced by
Certificate No. 4 in the name of Rodney Wilson.

Wilson opposed the sale, contending the sale is subject to valid
transfer restrictions in the company agreement for TSR.  Wilson
also notes that he claimed the units as part of his exempt
property with an assigned value, in light of allowable debt
against TSR relative to its assets, of $0.00.

David Rogers, another member of TSR, also objected to the
trustee's proposed auction.  Rogers submits that as another member
and interest holder of TSR, he may invoke the same restrictions
cited by Wilson, which, in effect, afford him the first right to
purchase the units at a price offered by an outside bidder. Rogers
also notes that he and other members of TSR were not provided with
timely notice of any sale by the trustee.

Custom Food Group, LP, a creditor of the Wilsons (and of TSR),
favors the auction; CFG made an initial offer of $7,500 to
purchase the 200 units, which offer triggered the trustee's
proposed auction.

According to Judge Jones, the sale shall be made by sealed bids to
be submitted at a time and location as directed by the Chapter 7
trustee.  The members of TSR shall be provided notice of the sale
and an opportunity to bid; the members of TSR may match the high
bid as provided for in the company agreement.

A copy of the Court's July 24, 2014 Memorandum Opinion is
available at http://is.gd/4qccEBfrom Leagle.com.

Texas Star Refreshments is a vending machine servicing company.
Rodney Wilson serves as the on-site manager of TSR and his wife,
Donna Lynn, serves as his assistant.  The Wilsons were previously
employed with Custom Food Group, LLC.  In May 2010, CFG sued TSR
and the Wilson for, among other things, misappropriation of trade
secrets and breach of fiduciary duty.  A jury trial ruled in favor
of CFG and CFG was awarded a $910,000 judgment.  As a result of
the verdict, TSR filed for bankruptcy (Bankr. N.D. Tex. Case No.
11-_____) on Sept. 21, 2011 and the Wilsons filed individually
(Bankr. N.D. Tex. Case No. 11-50396) on Oct. 4, 2011.

The Wilsons and TSR submitted and sought confirmation, jointly, of
their respective chapter 11 plans at a hearing held in October
2012.  By its Memorandum Opinion issued on March 22, 2013, the
Court approved confirmation of the TSR plan but denied
confirmation of the Wilsons' plan.  The Court said the Wilsons'
plan was dependent upon confirmation of the TSR plan as TSR served
as the source of compensation to the Wilsons.  Confirmation of the
Wilsons' plan was in large part denied because it failed to comply
with the so-called absolute priority rule.


THREE FORKS: Files Second Amendment to 2013 Annual Report
---------------------------------------------------------
Three  Forks, Inc., filed with the U.S. Securities and Exchange
Commission a second amendment to its annual report on Form 10-K
for the year ended Dec. 31, 2013.

B F Borgers CPA PC expressed substantial doubt about the Company's
ability to continue as a going concern, citing the Company's
significant operating losses.

The Company reported a net loss of $1.53 million on $894,128 of
total revenues for the year ended Dec. 31, 2013, as compared with
a net loss of $981,287 on $nil of total revenues in 2012.

The Company's balance sheet at Dec. 31, 2013, showed $6.37 million
in total assets, $3.24 million in total liabilities, and
stockholders' equity of $3.13 million.

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

                       http://is.gd/TPFGJq

Three Forks, Inc., based in Broomfield, Colorado, is engaged in
the acquisition, exploration, development, and production of oil
and gas properties.  The Company currently has oil and gas
projects in Texas, Oklahoma, and Louisiana.


TRAFALGAR POWER: Clearbid to Conduct Asset Sale on September 16
---------------------------------------------------------------
Clearbid Capital, LLC. has been retained as Investment Banker and
Financial Advisor by the United States Bankruptcy Court in the
Bankruptcy case, In re: Trafalgar Power, Inc. and Christine Falls
of New York, Inc., Case No. 01-67457, filed in the United States
Bankruptcy Court in the Northern District of New York.

Clearbid is conducting an accelerated sale of the assets of
Trafalgar Power, Inc. and Christine Falls of New York, Inc.,
currently operating under bankruptcy protection.  TPI/CPC own
seven fully-licensed hydroelectric generation facilities located
in New York State.  The Companies seek a buyer that can take over
management and operation of the facilities.

The assets will be sold under a Section 363 bankruptcy sale.

The stalking horse offer deadline is August 15, 2014 at 5:00 p.m.
ET.

The bidding deadline is September 10, 2014 at 5:00 p.m. ET.

The auction sale will be held on September 16, 2014 at 11:00 a.m.,
at the offices of Harris Beach PLLC, 333 West Washington Street,
Suite 200, Syracuse, NY 13202.

The sale hearing will be held on September 18, 2014 at 2:00 p.m.
ET.


SUMMARY DETAILS:

Location         Capacity (KW)       Operating Status

Forestport, NY       3,300             Profitable
Ogdensburg, NY       3,675             Profitable
Christine Falls, NY    850             Profitable
Kayuta Lake, NY        400             Needs Repairs
Cranberry Lake, NY     500             Needs Repairs
Herkimer, NY         1,680             Needs Repairs
Adams, NY              350             Needs Repairs
                     -----
                    10,755

KEY ATTRIBUTES:

   -- The facilities have Federal Energy Regulatory Commission
(FERC) licenses in place and qualified buyers will be able to
transfer licenses, which is expected to be much faster than the
standard regulatory review for new plants;

   -- Three plants are in good operating condition with no major
FERC concerns and running at positive cash flow;

  -- Four plants require some investment to be able to resume
profitable operations;

  -- The plants possibly can be made to operate at higher levels
of efficiency with modest investment from an industry operator.

PROCESS:

Bidders interested in participating in the sale process are
requested to contact Clearbid Capital and will be required to
execute a confidentiality agreement.  Bidders will then receive
access to a data room.  Prior to site visits, bidders will also
be required to demonstrate both financial wherewithal and the
ability to transfer operational licenses from the Federal Energy
Regulatory Commission (FERC).

Parties interested in participating in the sale process should
execute the Confidentiality Agreement and return it to Clearbid as
soon as possible via e-mail to peter@clearbid.com

A copy of the Confidentiality Agreement is available at:

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


Contact information:

Clearbid Capital LLC
c/o Wilk Auslander LLP
1515 Broadway, 43rd Floor
New York, New York 10036
Tel: (914) 401-4456

Peter Hartheimer
E-mail: peter@clearbid.com
Tel: (845) 323-1267

David Hartheimer
E-mail: david@clearbid.com
Tel: (917) 873-3001

Jim Nollsch
E-mail: jim@clearbid.com
Tel: (303) 250-3071


TREEHOUSE FOODS: S&P Affirms 'BB' CCR; Outlook Stable
-----------------------------------------------------
Standard & Poor's Ratings Services affirmed all of its ratings,
including its 'BB' corporate credit rating, on Oak Brook, Ill.-
based TreeHouse Foods Inc.  The rating outlook is stable.  S&P
also assigned its '3' recovery and 'BB' issue-level rating to the
company's proposed $200 million tranche A-1 term loan that will be
used to fund the Flagstone acquisition.

The affirmation follows TreeHouse's announcement that it is
acquiring Flagstone Foods for approximately $860 million.

"We believe that the Flagstone Foods acquisition will strengthen
TreeHouse's scale and diversity with access to the faster growing
healthy snacks category," said Standard & Poor's credit analyst
Bea Chiem.  "We anticipate that the company will maintain leverage
below 4x and adequate liquidity," continued Ms. Chiem.

The new debt, along with borrowings on the company's existing
revolving credit facility and more than $350 million in net
proceeds from its equity issuance, will fund the company's
purchase of Flagstone Foods.


TRI COUNTY CONTRACTORS: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Tri County Contractors, Inc.
        115 Riley Drive
        Jackson, MS 39209

Case No.: 14-02359

Chapter 11 Petition Date: July 25, 2014

Court: United States Bankruptcy Court
       Southern District of Mississippi
       (Jackson-3 Divisional Office)

Judge: Hon. Edward Ellington

Debtor's Counsel: James G McGee, Jr., Esq.
                  LAW OFFICE OF JAMES G. MCGEE, JR. PLLC
                  125 South Congress St.
                  Capitol Towers, Suite 1240
                  Jackson, MS 39201
                  Tel: (601) 965-6157
                  Fax: (601) 956-6166
                  Email: jmcgee@mcgeetaxlaw.com
                         randall.saxton@mcgeetaxlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John K. Hunter, president.

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


UNITED AIRLINES: S&P Assigns 'BB-' Rating on $500MM Secured Loan
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' issue rating
and '1' recovery rating to United Airlines Inc.'s new $500 million
senior secured term loan B due 2021.  The '1' recovery rating
indicates S&P's expectation for very high recovery (90%-100%) in a
payment default scenario.

At the same, the 'BB-' issue level rating and '1' recovery rating
on the upsized $1.35 billion revolving credit facility due 2019
remain unchanged.

The revolving credit facility, new term loan B, and existing $900
million term loan B due 2019 are secured by the same collateral,
which consists of United Airlines' international routes, airport
gates, and takeoff and landing slots at airports in China and Hong
Kong as well as at London Heathrow Airport; and its takeoff and
landing slots at three U.S. airports, which together secure the
existing $1 billion revolving credit facility that is being
increased to $1.35 billion and the existing $900 million term loan
B.  All three credit facilities will also be secured by the
international routes, gates and takeoff and landing slots at
airports in China and Hong Kong as well as at London Heathrow
Airport that were previously operated by Continental Airlines Inc.
(which merged into United Airlines in 2013) and currently secure
the 6.75% senior secured notes due 2015 (issued by Continental
Airlines), which United Airlines has indicated it intends to
redeem.  United Airlines' parent, United Continental Holdings
Inc., guarantees the new credit facilities.

"Our 'B' corporate credit ratings on United Continental Holdings
Inc. and its major operating subsidiary United Airlines are based
on United Continental's participation in the cyclical and price
competitive airline industry, its good market position, and its
comprehensive route network, as well as its subpar operating
performance relative to its peers and its substantial debt and
lease burden.  The company is the second-largest U.S. airline,
operating out of major U.S. hubs at Newark, N.J., Houston, and
Chicago, and it has broad global coverage with routes to Europe,
Asia, and Latin America.  United Continental reported strong
second-quarter 2014 earnings, a departure from disappointing
operating results over the past several years.  We believe the
company has favorable long-term prospects, based on industry
consolidation (the three network airlines [United Continental,
American Airlines Inc., and Delta Air Lines Inc.] along with
Southwest Airlines Co. account for more than 80% of U.S. capacity)
and our expectation for continued restrained industry capacity
growth," S&P said.

United Continental also announced a three-year $1 billion share
buyback authorization.  S&P considers this representative of a
fairly aggressive financial policy, given the short track record
of satisfactory operating results.  However, the move does not
affect the company's liquidity or financial risk profile, or the
corporate credit rating, which has ample cushion, in our view.

RATINGS LIST

United Continental Holdings Inc.           B/Stable/---

United Airlines Inc.
Corporate Credit Rating                   B/Stable/---

New Ratings

United Airlines Inc.
$500 million senior secured term loan B   BB-
  Recovery Rating                          1

Ratings Unchanged

United Airlines Inc.
$1.35 billion revolving credit facility
due 2019*                                 BB-
  Recovery Rating                          1

*Upsized amount.


US FOODS: S&P Retains 'B' CCR on CreditWatch Positive
-----------------------------------------------------
Standard & Poor's Ratings Services said that all of its ratings on
Rosemont, Ill.-based US Foods Inc., including S&P's 'B' corporate
credit rating, remain on CreditWatch, where we placed them with
positive implications on Dec. 9, 2013.  Total debt outstanding as
of March 31, 2014, was approximately $4.8 billion.

S&P's ratings on US Foods remain on CreditWatch with positive
implications as its proposed merger with Sysco remains subject to
regulatory review.

Assuming the transaction closes on terms generally consistent with
those expected by Sysco, including its projected debt levels and
with limited divestitures, S&P anticipates raising its corporate
credit rating on US Foods to 'A-', which is the expected corporate
credit rating on Sysco.  S&P then expect to withdraw all of its
ratings on US Foods.

S&P would reevaluate the CreditWatch listing and ratings if
regulators do not approve the transaction, or if, as a condition
of approval, regulators require significant changes to the
proposed transaction, including substantial divestitures; if the
transaction financing structure is materially revised; or if the
operating environment changes significantly from current
conditions.


VAUGHAN COMPANY: Johnsons Directed to Respond to Discovery
----------------------------------------------------------
In the case, JUDITH A. WAGNER, Chapter 11 Trustee of the
bankruptcy estate of the Vaughan Company, Realtors, Plaintiff, v.
RICHARD JOHNSON, and CHERYL JOHNSON, Defendants, Case No. 13-CV-
00662-WJ-SMV (D. N.M.), Magistrate Judge Stephan M. Vidmar
directed the Defendant to provide full and complete responses to
Interrogatories No. 1-4 and Requests for Production No. 1-2 to the
Plaintiff by August 4, 2014, including copies of any and all
documents supporting the Defendants' contentions.  A copy of the
Court's July 22, 2014 Order is available at http://is.gd/QByi0S
from Leagle.com.

                About The Vaughan Company Realtors

The Vaughan Company Realtors filed for Chapter 11 protection on
Feb. 22, 2010 (Bankr. N.M. Case No. 10-10759).  George D. Giddens,
Jr., Esq., represents the Debtor in its restructuring efforts.
The Company estimated both assets and debts of between $1 million
and $10 million.  Judith A. Wagner was appointed as Chapter 11
Trustee.

Mr. Vaughan filed a separate Chapter 11 petition (Bankr. D. N.M.
Case No. 10-10763) on Feb. 22, 2010.  The case was converted to a
chapter 7 proceeding on May 20, 2010.  Yvette Gonzales is the duly
appointed trustee of the Chapter 7 estate.


VAUGHAN COMPANY: Appelman et al. Denied Jury Trial
--------------------------------------------------
At the behest of Judith A. Wagner, Chapter 11 Trustee of the
bankruptcy estate of the Vaughan Company, Realtors, Magistrate
Judge Stephan M. Vidmar denied the demands for jury trial sought
by defendants Michael Menke, James Richards, Daniel Fenton, Nancy
Fenton, Mostafa Jafari, Morteza Jafai, Maryam Jafari, Melika
Jafari, Mohammad Reza Jafari, Farzeneh Jafari, Mojtaba Jafari,
Abbas Ansari, Peymaneh Pour, Marie Yeh, Jenny Yeh Nelson, Jimmy C.
Yeh, Said Bandi, Bandi Engineering Co., Inc., Donald Lacy, Deanna
Lacy, Steven Etkind, Talia Etkind, and Sherry Etkind.  The judge
said the Defendants who filed proofs of claim extinguished their
rights to a jury trial by doing so. They have provided the Court
with no authority indicating this result may now be reversed. In
addition, defendant Sherry Etkind has no right to a jury trial
because there are no separate transfers to her that do not
implicate the claims-allowance process.  Lastly, the Lacy
Defendants have not properly withdrawn their proofs of claim, nor
may they restore the right to a jury trial by doing so at this
stage.

The Chapter 11 Trustee's lawsuits arise out of a Ponzi scheme
perpetrated by Doug Vaughan through Vaughan Company.

The cases are JUDITH A. WAGNER, Plaintiff, v. JULES APPELMAN, et
al.; MICHAEL MENKE; JAMES RICHARDS; DANIEL FENTON, et al.; MOSTAFA
JAFARI; et al.; ABBAS ANSARI, et al.; MARIE YEH, et al.; SAID
BANDI, et al.; DONALD LACY, et al.; STEVEN S. ETKIND, et al.,
Defendants, CASE NOS. 12-CV-0817 WJ/SMV, 12-CV-0197 WJ/SMV, 12-CV-
0203 WJ/SMV, 12-CV-0207 WJ/SMV, 12-CV-0241 WJ/SMV, 12-CV-0300
WJ/SMV, 12-CV-0301 WJ/SMV, 12-CV-0303 WJ/SMV, 12-CV-0391 WJ/SMV,
12-CV-0547 WJ/SMV, 12-CV-0754 WJ/SMV (D.N.M.).

A copy of the Court's July 22, 2014 Memorandum Opinion and Order
is available at http://is.gd/YMHhz9from Leagle.com.

                About The Vaughan Company Realtors

The Vaughan Company Realtors filed for Chapter 11 protection on
Feb. 22, 2010 (Bankr. N.M. Case No. 10-10759).  George D. Giddens,
Jr., Esq., represents the Debtor in its restructuring efforts.
The Company estimated both assets and debts of between $1 million
and $10 million.  Judith A. Wagner was appointed as Chapter 11
Trustee.

Mr. Vaughan filed a separate Chapter 11 petition (Bankr. D. N.M.
Case No. 10-10763) on Feb. 22, 2010.  The case was converted to a
chapter 7 proceeding on May 20, 2010.  Yvette Gonzales is the duly
appointed trustee of the Chapter 7 estate.


VERSO PAPER: Exchange Offers Early Tender Time Expire
-----------------------------------------------------
Verso Paper Corp. announced that as of 12:00 midnight, New York
City time, at the end of Wednesday, July 16, 2014, the early
tender time with respect to the exchange offers and consent
solicitations by two of its wholly owned subsidiaries, Verso Paper
Holdings LLC and Verso Paper Inc., with respect to their
outstanding 8.75% Second Priority Senior Secured Notes due 2019
and 11 3/8% Senior Subordinated Notes due 2016 has expired and the
deadline to withdraw tenders or revoke consents has passed.

Holders of Old Second Lien Notes and Old Subordinated Notes may
still participate in the exchange offers and consent solicitations
through the final expiration time, which will be as of 12:00
midnight, New York City time, at the end of Wednesday, July 30,
2014, unless extended.

On July 2, 2014, the Issuers commenced exchange offers to exchange
(i) new Second Priority Adjustable Senior Secured Notes and
warrants that will be mandatorily convertible into shares of
common stock of Verso immediately prior to the completion of the
Merger described below for any and all of their outstanding Old
Second Lien Notes and (ii) new Adjustable Senior Subordinated
Notes and Warrants for any and all of their outstanding Old
Subordinated Notes.  In connection with the exchange offers, the
Issuers have solicited consents to amend the Old Second Lien
Notes, the Old Subordinated Notes and the indentures governing the
Old Second Lien Notes and the Old Subordinated Notes.

The exchange offers and consent solicitations are being conducted
pursuant to the Agreement and Plan of Merger dated as of Jan. 3,
2014, and NewPage Holdings Inc., pursuant to which Verso will
acquire NewPage by means of the merger of Merger Sub with and into
NewPage on the terms and subject to the conditions set forth in
the Merger Agreement, with NewPage surviving the Merger as an
indirect, wholly owned subsidiary of Verso. The closing of the
Merger is conditioned upon consummation of the exchange offers.

As of 12:00 midnight, New York City time, at the end of Wednesday,
July 16, 2014, the Issuers have been informed by the exchange
agent that approximately $286.9 million aggregate principal amount
of the Old Second Lien Notes and approximately $17.7 million
aggregate principal amount of the Old Subordinated Notes had been
tendered for exchange.

"We thank the noteholders who have already committed to the
exchange offers for their support and we are disappointed that we
have not yet reached the 75% minimum condition for the exchange
offers," said Verso President and CEO Dave Paterson.  "Verso
continues to believe that the consummation of the exchange offers
is in the best interests of all Verso stakeholders and is an
important step toward completing our acquisition of NewPage.  If
we cannot complete the exchange offers, Verso will be forced to
consider alternative actions."

Holders that are U.S. persons and not qualified institutional
buyers or non-U.S. persons that are not non-U.S. qualified
offerees should contact Global Bondholder Services Corporation,
the information and exchange agent, and, after furnishing proof of
their status as non-qualified institutional buyers or non-U.S.
persons that are not non-U.S. qualified offerees, will receive
additional information so that alternative arrangements can be
made with the Issuers that will allow those holders to use The
Depository Trust Company's Automated Tender Offer Program to
receive similar economic terms to the exchange offers, as
applicable.  Global Bondholder Services Corporation may be
contacted at (212) 430-3774 (for brokers and banks) or (866) 470-
3700 (for all others).

                            About Verso

Verso is a North American producer of coated papers, including
coated groundwood and coated freesheet, and specialty products.
Verso is headquartered in Memphis, Tennessee, and owns three paper
mills located in Maine and Michigan.  Verso's paper products are
used primarily in media and marketing applications, including
magazines, catalogs and commercial printing applications such as
high-end advertising brochures, annual reports and direct-mail
advertising.  Additional information about Verso is available on
its Web site at www.versopaper.com.

                            *    *    *

As reported by the TCR on July 10, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating on Memphis, Tenn.-
based Verso Paper Holdings LLC to 'CC' from 'CCC'.  "The rating
action reflects the announcement that the company plans to conduct
a two-part exchange for its senior secured second-priority notes
and senior subordinated notes," said Standard & Poor's credit
analyst David Kuntz.

The TCR reported on June 24, 2014, that Moody's Investors Service
downgraded Verso Paper Holdings LLC's corporate family rating
(CFR) to Caa3 from B3 and probability of default rating (PDR) to
Caa3-PD from Caa2-PD.  Verso's Caa3 CFR reflects the elevated risk
of a default or distressed exchange in the next 12 months, the
company's weak liquidity, high leverage (adjusted leverage over
13x), and the expectation that the company will continue to face
secular demand declines and weak prices for most of the grades of
coated paper it produces.


VISANT HOLDING: S&P Affirms 'B' CCR & Removes From Watch Negative
-----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Armonk, N.Y.-based Visant Holding Corp.  S&P
removed the rating from CreditWatch, where it placed it with
negative implications on Nov. 21, 2013, following the announcement
of the company's planned acquisition of rival, American
Achievement.

The rating action follows the Federal Trade Commission's (FTC's)
block of Visant's proposed acquisition, citing competition
concerns.  The FTC ruled that the business combination would
result in the combined company controlling the vast majority of
the high school and college ring markets.

The 'B' corporate credit rating on Visant reflects S&P's
expectation that the company's soft revenue trends will continue
to pressure EBITDA and discretionary cash flow unless the company
can effectively manage its cost structure.  Still, S&P continues
to assess Visant's business risk profile as "fair," given the good
competitive position, albeit in a market that is contracting
slightly.  S&P views Visant's financial risk profile as "highly
leveraged" because of its high debt level and an aggressive
financial policy, demonstrated by a large special dividend in
2010.  S&P's management and governance assessment of the company
is "fair."

Visant publishes school yearbooks and manufactures and sells
school class rings, along with other graduation-related
merchandise, together known as "school affinity products."  The
company also has a marketing and publishing business that serves
the consumer product and publishing sectors.  The school affinity
product market is a mature business with relatively high barriers
to entry, and Visant has a strong competitive position in this
niche business because of existing relationships with customers
and strong product offerings.  Historically these strengths, along
with effective cost management, resulted in Visant having an
EBITDA margin about four percentage points higher than its key
competitor.  However, weaker revenue trends have led to an erosion
of Visant's margin advantage.

A major portion of Visant's revenues and EBITDA are seasonal and
highly dependent on the U.S. academic cycle.  Because of the
discretionary nature of purchases, Visant's operations are
vulnerable to weakness in the economy and gold price volatility.
Elevated gold prices have caused consumers to shift to lower-
priced metals for jewelry and affinity products.  Even with
consumer spending moving to a more solid footing, S&P is not
convinced that yearbooks and class rings have the same relevance
to the current generation of students.  S&P believes Visant's
business risks and opportunities will translate into flat to
slightly lower revenue and EBITDA in 2014.

For the 12-month period ended March 31, 2014, the ratio of lease-
adjusted debt to EBITDA was very high at roughly 7x, well above
the 5x leverage threshold S&P associates with a "highly leveraged"
financial risk profile.  S&P do not expect any significant
reduction in leverage in the near-to-intermediate term.  Also, as
of March 31, 2014, the company had only a 10.1% cushion of
compliance with its maximum leverage covenant.  S&P believes the
company will remain in compliance with its covenants and continue
to generate meaningful free cash flow; however, its ability to do
both may continue to be pressured if demand for its products
continues to erode.


VISTEON CORP: Judge Keeps Retiree Benefit Row In District Court
---------------------------------------------------------------
Law360 reported that a Delaware federal judge refused to transfer
to bankruptcy court a putative class action filed by retirees
challenging Visteon Corp.'s move to end their health benefits
after the auto parts maker's exit from Chapter 11 protection.
According to the report, after the Sixth Circuit in May denied the
retirees' bid to reverse a Michigan court's order transferring to
the suit to Delaware, the court was asked to decide whether to
maintain its jurisdiction or refer the case to bankruptcy court.
U.S. District Judge Richard G. Andrews said that because the
dispute isn't over any key components of the company's
reorganization plan, it belongs in district court, the report
related.

The case is INTERNATIONAL UNION, UNITED AUTOMOBILE, AEROSPACE AND
AGRICULTURAL IMPLEMENT WORKERS OF AMERICA (UAW) et al v. Ford
Motor Company, Case No. 1:13-cv-01742 (D.Del.).

                        About Visteon Corp

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is an automotive supplier
that designs, engineers and manufactures innovative climate,
interior, electronic and lighting products for automakers.  The
Company has corporate offices in Van Buren Township, Michigan
(U.S.); Shanghai, China; and Kerpen, Germany.  It has facilities
in 27 countries and employs roughly 35,500 people.  The Company
disclosed assets of US$4,561,000,000 and debts of US$5,311,000,000
as of March 31, 2009.

Visteon Corporation and 30 of its affiliates filed for Chapter 11
protection on May 28, 2009, (Bank. D. Del. Case No. 09-11786
through 09-11818).  Judge Christopher S. Sontchi oversees the
Chapter 11 cases.  James H.M. Sprayregen, Esq., Marc Kieselstein,
Esq., and James J. Mazza, Jr., Esq., at Kirkland & Ellis LLP, in
Chicago, Illinois, represented the Debtors in their restructuring
effort.  Laura Davis Jones, Esq., James E. O'Neill, Esq., Timothy
P. Cairns, Esq., and Mark M. Billion, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware, served as the Debtors'
local counsel.  The Debtors' investment banker and financial
advisor were Rothschild Inc.  The Debtors' notice, claims, and
solicitation agent was Kurtzman Carson Consultants LLC.  The
Debtors' restructuring advisor was Alvarez & Marsal North America,
LLC.

The Bankruptcy Court entered an order on Aug. 31, 2010, confirming
the Fifth Amended Plan of Reorganization of Visteon Corporation
and its debtor-affiliates.  Visteon emerged from Chapter 11 on
Oct. 1.

                           *     *     *

The Troubled Company Reporter, on March 27, 2014, reported that
Moody's Investors Service assigned a B1 rating to Visteon's
proposed $800 senior secured bank credit facility.  In a related
action Moody's affirmed the B1 Corporate Family Rating, B1-PD
Probability of Default Rating and the company's existing debt
ratings. Visteon's Speculative Grade Liquidity Rating was affirmed
at SGL-3. The rating outlook remains stable.

The TCR, on the same day, also reported that Standard & Poor's
Ratings Services said that it assigned 'BB-' issue ratings to Van
Buren Township, Mich.-based global auto supplier Visteon's
proposed senior secured debt comprising a $600 million term loan B
maturing 2021 and a new five-year $200 million revolving credit
facility.  The recovery rating is '2', which indicates S&P's
expectation for substantial (70% to 90%) recovery for lenders in
the events of a payment default or bankruptcy.  The term loan
issuance, along with some cash from balance sheet, will repay the
remaining $400 million 6.75% Senior Notes (rated 'B+', with a '3'
recovery rating) due 2019 and finance the acquisition of JCI
Electronics.


WARREN RESOURCES: S&P Assigns B CCR & Rates New Unsec. Notes B-
---------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to New York City-based Warren Resources Inc.  The
outlook is stable.  At the same time, S&P assigned its 'B-' issue-
level rating to Warren's proposed $300 million senior unsecured
notes due 2022.  The recovery rating on the notes is '5',
indicating S&P's expectation of modest (10% to 30%) recovery to
creditors in the event of a payment default.

"The stable outlook reflects our expectation that Warren will
continue to expand its reserves and production base, while keeping
capital spending within operating cash flows, such that FFO to
debt remains about 30% and debt to EBITDA about 3x," said Standard
& Poor's credit analyst Carin Dehne-Kiley.

S&P could lower the rating if it expected FFO to debt to fall
below 20% or debt to EBITDA to exceed 4x with no near-term remedy,
or if liquidity deteriorated.  This would most likely occur if the
company did not meet S&P's oil production growth expectations or
if capital spending exceeded cash flows by significantly more than
currently contemplated.

An upgrade would be possible if Warren can continue to expand its
reserves and production to be more consistent with a "weak"
business risk profile and improve profitability while maintaining
FFO to debt at more than 20% and adequate liquidity.


WATERVILLE WINDOW: Files for Chapter 7 Bankruptcy
-------------------------------------------------
Catherine Kavanaugh, writing for Plastics News, reported that
Waterville Window Co. Inc., in Winslow, Maine, filed for Chapter 7
bankruptcy after 61 years in business, citing liabilities of
$813,870 to about 30 creditors, including a couple of PVC
extruders.  According to the report, the window fabricator will
cease operations and liquidate assets of $54,500 -- a truck, van
and office equipment -- to pay down debt owed to four creditors,
two of which are banks.  Secured claims total $389,000, the report
related.


WRS HOLDING: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                     Case No.
      ------                                     --------
      WRS Holding Company                        14-08588
      221 Hobbs Street, Suite 108
      Tampa, FL 33619

      Compass Environmental, Inc.                14-08592
      221 Hobbs Street, Suite 108
      Tampa, FL 33619

      WRS Infrastructure & Environment, Inc.     14-08593

Chapter 11 Petition Date: July 25, 2014

Court: United States Bankruptcy Court
       Middle District of Florida (Tampa)

Judge: Hon. Catherine Peek McEwen

Debtors' Counsel: Jordi Guso, Esq.
                  BERGER SINGERMAN LLP
                  1450 Brickell Avenue, 19th Floor
                  Miami, FL 33131-3453
                  Tel: 305-755-9500
                  Fax: 305-714-4340
                  Email: jguso@bergersingerman.com

                                 Estimated    Estimated
                                   Assets    Liabilities
                                -----------   -----------
WRS Holding Company             $0-$50,000    $10MM-$50MM
Compass Environmental, Inc.     $0-$50,000    $10MM-$50MM

The petitions were signed by Brian Finn, treasurer.

The Debtors did not file a list of their largest unsecured
creditors when they filed the petitions.


* 9th Circ.: Malpractice Suit Is Bankruptcy 'Core Proceeding'
-------------------------------------------------------------
Law360 reported that the Ninth Circuit ruled that a postpetition
claim brought against a professional appointed by a bankruptcy
court is a core proceeding for jurisdictional purposes, upholding
the affirmance of a dismissal of a malpractice suit against an
attorney for an unsecured creditors' committee.  According to the
report, in a unanimous ruling, a three-judge appellate panel
affirmed U.S. District Judge William Alsup's finding that a
bankruptcy court properly exercised jurisdiction over a
malpractice suit filed against attorney David N. Chandler by
members of California-based Colusa Mushroom Inc.'s unsecured
creditors committee.


* Bond Fee Disclosures Sought by SEC to End 38-Year Debate
----------------------------------------------------------
Lisa Abramowicz and Dave Michaels, writing for Bloomberg News,
reported that the Municipal Securities Rulemaking Board will
discuss a proposal after U.S. Securities and Exchange Commission
Chair Mary Jo White asked the regulator to come up with a plan on
how to make trading costs for corporate and municipal debt
transparent.

According to the report, the new rules would apply to so-called
riskless trades, where firms fill client orders rather than use
their own money to opportunistically buy.  According to the
report, regulators are placing a greater emphasis on making sure
smaller buyers don't get fleeced when transacting in the
corporate- and municipal-bond market that's grown 36 percent since
2008.


* Fifth Circuit Panel Urges Reconsideration of Pro-Snax Fee Rules
-----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that three judges on the New Orleans-based U.S. Court of
Appeals for the Fifth Circuit want the full court reconsider its
1998 ruling on the payment of legal fees in bankruptcy.

According to the report, in the bankruptcy cases -- from Chapter
11 converted to Chapter 1 -- involving a man and his wife their
Chapter 11 lawyers sought $130,000 in fees.  The bankruptcy judge,
citing the 1998 Pro-Snax case, awarded less than $20,000,
disallowing most of the requested fees for lack of success, and
the district court upheld the reduction, as did the Fifth Circuit,
the report related.  U.S. Circuit Judge Edward C. Prado, however,
wrote a separate opinion, joined by his two colleagues, urging the
entire Fifth Circuit to reconsider Pro-Snax, the report further
related.

"The Pro-Snax standard may be misguided" as it appears to conflict
with Section 330 of the Bankruptcy Code, which sets the standard
for approving fees, according to the judge, Mr. Rochelle cited.

The case is Barron & Newburger PC v. Texas Skyline Ltd. (In re
Woerner), 13-50075, U.S. Court of Appeals for the Fifth Circuit
(New Orleans).


* Hypothetical Purchaser Status Arises Automatically
----------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that a trustee has the status of bona fide purchaser
without actually conducting a title search, U.S. District Judge
Freda L. Wolfson from Trenton, New Jersey said in an opinion on
July 16.

According to the report, the bankruptcy trustee voided an interest
in property using the so-called strong-arm powers in Section
544(a)(3) of the Bankruptcy Code giving the trustee status of a
bona-fide purchaser.  The defendant appealed, arguing the trustee
shouldn't have been given summary judgment because the trustee
didn't introduce evidence of a six-year title search, which would
have shown the interest in the property, the report related.

The case is Musolino v. Orr, 14-514, U.S. District Court, District
of New Jersey (Trenton).


* Bankruptcy Shows Pressures on Retirement Communities, Fitch Says
------------------------------------------------------------------
The bankruptcy filing by The Amsterdam at Harborside is reflective
of the continued challenges faced by both start-ups and large-
scale expansions of continuing care retirement communities (CCRCs)
that were financed and opened during the challenging 2006-2010
economic environment. Fitch Ratings does not view this as a
sector-wide concern.

Several newer CCRCs funded during this period remain challenged
due to slower than anticipated fill-ups and lower than projected
entrance fee receipts, which in turn were caused by discounting
attributable to the sharp decline in housing prices.  Many
projects have come under pressure due to lower entrance fee
collections and slower fill rates.  Those lowered revenues
impacted operations and the CCRCs' ability pay down temporary debt
structures, which has driven some into bankruptcy.

In contrast, many of the mature nonprofit CCRCs rated by Fitch
were better positioned to weather the financial challenges
experienced during the economic downturn.  They also benefitted
from good locations, successful operating histories and were
generally able to maintain entrance fee prices consistent with
local area housing prices even in markets that saw material drops
in housing prices.  And, their management teams proved adept at
controlling expenses and developing creative marketing strategies
to generate move-ins.

In 2014, Fitch expects mature CCRCs to continue to benefit from
improving economic fundamentals and the continued rise in
residential real estate prices.  Year to date, affirmations remain
Fitch's most common rating action in the sector.


* House Democrats Seek to Protect Workers in Municipal Bankruptcy
-----------------------------------------------------------------
William Selway, writing for Bloomberg News, reported that
democrats in the U.S. House are seeking to protect local-
government workers in bankruptcy proceedings, responding to the
record collapse in Detroit that's poised to reduce city workers'
retirement benefits.  According to the report, a bill by Michigan
Representative John Conyers, the top Democrat on the House
Judiciary Committee, and three other fellow Democrats would
strengthen the threshold for negotiations with workers before a
filing could be approved.  It would also require employees to
consent to changes to contracts, including pension and health-care
benefits, the report related.


* As Dodd-Frank Reaches Fourth Year, White Says More Work to Do
---------------------------------------------------------------
Ben Dipietro, writing for The Wall Street Journal, as the Dodd-
Frank Act nears its fourth anniversary, Securities and Exchange
Commission Chair Mary Jo White issued a statement saying although
her agency has done much to implement the controversial law, much
more needs to be done.  According to the Journal, Dodd-Frank was
passed by the U.S. Congress in reaction to the 2008 financial
crisis. Supporters see it as a way to regulate financial markets
from making risky bets that helped plunge the world economy into
recession.  Critics slam it as thousands of pages of unnecessary
regulations that don't target the root causes of the recession,
and say it has hampered the economic recovery, the report related.


* Atlantic City Adrift as Casino Closings Sap Jobs Market
---------------------------------------------------------
Terrence Dopp, writing for Bloomberg News, reported that about a
quarter of the casino jobs that propped up the city for more than
three decades are on the line as one gambling house closed in
January, two more plan to in the next two months and a fourth --
the $2.4 billion Revel AC that promised to transform the town from
a bastion of blue-haired slots addicts into a destination for the
glitterati -- is seeking a buyer in bankruptcy.

According to the report, once the East Coast's gambling hub,
Atlantic City has suffered as casinos opened in neighboring states
including Pennsylvania and New York after they legalized gambling
or expanded betting to increase tax revenue.  Even as Caesars
Entertainment Corp. plans to close its money-losing Showboat
casino in New Jersey, it's opening the Horseshoe in Baltimore next
month, the report related.


* 21st Annual Distressed Investing Conference Announcement
----------------------------------------------------------
The 21st Annual Distressed Investing conference is scheduled for
Mon., Dec. 1, 2014, at The Helmsley Park Lane Hotel in New York
City.

The evolving program and registration information is available at
http://bankrupt.com/DI2014/

For sponsorship and speaking opportunities, contact Nina Novak at
Beard Group, Inc., at nina@beard.com by e-mail or (202) 241-8200
by telephone.

Steven L. Gidumal at Virtus Capital, LP, will return for his 19th
year to open the conference by reviewing the year in distressed
investing and bringing his thought provoking insights and unique
perspectives on what to expect in 2015 in the distressed debt
market.  Mr. Gidumal will also join an Investor Roundtable session
late in the afternoon with Leon Frenkel at Triage Capital
Management; Ken Grossman at Juris Advisors LLC; Gary E. Hindes at
The Delaware Bay Company LLC; and Dave Miller at Elliott
Management Corp.

Harvey R. Miller at Weil, Gotshal & Manges LLP will present this
year's Harvey R. Miller Outstanding Achievement Award for Service
to the Restructuring Industry to James E. Millstein at Millstein &
Co. and Mr. Millstein will share his advice for distressed
investors.

Beard Group will also honor the dozen 2014 Turnarounds & Workouts
Outstanding Young Restructuring Lawyers:

  * Scott L. Alberino at Akin Gump Strauss Hauer & Feld
  * Luke A. Barefoot at Cleary Gottlieb Steen & Hamilton
  * Joshua Brody at Kramer Levin Naftalis & Frankel
  * Jason G. Cohen at Bracewell & Giuliani
  * Garrett Fail at Weil, Gotshal & Manges
  * Jill Frizzley at Shearman & Sterling
  * Jayme T. Goldstein at Stroock & Stroock & Lavan
  * Brian D. Glueckstein at Sullivan & Cromwell
  * James J. Mazza, Jr., at Skadden, Arps, Slate, Meagher
       & Flom
  * Dan B. Prieto at Jones Day
  * Dustin P. Smith at Hughes Hubbard & Reed
  * Joshua A. Sussberg at Kirkland & Ellis


* Large Companies With Insolvent Balance Sheet
----------------------------------------------

                                                Total
                                               Share-      Total
                                     Total   Holders'    Working
                                    Assets     Equity    Capital
  Company          Ticker             ($MM)      ($MM)      ($MM)
  -------          ------           ------   --------    -------
ABSOLUTE SOFTWRE   ABT CN            118.9       (8.4)       1.0
ABSOLUTE SOFTWRE   OU1 GR            118.9       (8.4)       1.0
ABSOLUTE SOFTWRE   ALSWF US          118.9       (8.4)       1.0
ACHAOGEN INC       AKAO US            13.8       (0.0)       2.1
ACTINIUM PHARMAC   ATNM US             6.6      (13.5)     (13.5)
ADVANCED EMISSIO   ADES US           106.4      (46.1)     (15.3)
ADVANCED EMISSIO   OXQ1 GR           106.4      (46.1)     (15.3)
ADVENT SOFTWARE    ADVS US           452.2      (91.1)     (90.7)
ADVENT SOFTWARE    AXQ GR            452.2      (91.1)     (90.7)
AEMETIS INC        DW51 GR            99.4       (4.2)     (14.6)
AEMETIS INC        AMTX US            99.4       (4.2)     (14.6)
AEROHIVE NETWORK   HIVE US            69.1       (5.2)      26.7
AEROHIVE NETWORK   2NW GR             69.1       (5.2)      26.7
AIR CANADA-CL A    ADH TH          9,964.0   (1,947.0)    (185.0)
AIR CANADA-CL A    ADH GR          9,964.0   (1,947.0)    (185.0)
AIR CANADA-CL A    AIDIF US        9,964.0   (1,947.0)    (185.0)
AIR CANADA-CL A    AC/A CN         9,964.0   (1,947.0)    (185.0)
AIR CANADA-CL B    AIDEF US        9,964.0   (1,947.0)    (185.0)
AIR CANADA-CL B    AC/B CN         9,964.0   (1,947.0)    (185.0)
ALDER BIOPHARMAC   ALDR US            16.6      (37.2)      (8.4)
ALDER BIOPHARMAC   3A9 GR             16.6      (37.2)      (8.4)
ALDER BIOPHARMAC   ALDR1EUR EU        16.6      (37.2)      (8.4)
ALLIANCE HEALTHC   AIQ US            465.3     (136.6)      59.5
AMC NETWORKS-A     AMCX US         3,484.7     (478.3)     642.3
AMC NETWORKS-A     9AC GR          3,484.7     (478.3)     642.3
AMER RESTAUR-LP    ICTPU US           33.5       (4.0)      (6.2)
AMYLIN PHARMACEU   AMLN US         1,998.7      (42.4)     263.0
AMYRIS INC         AMRS US           236.8     (112.5)      33.5
ANGIE'S LIST INC   8AL GR            128.4      (36.6)     (54.9)
ANGIE'S LIST INC   8AL TH            128.4      (36.6)     (54.9)
ANGIE'S LIST INC   ANGI US           128.4      (36.6)     (54.9)
ARRAY BIOPHARMA    ARRY US           135.2      (23.3)      72.2
ARRAY BIOPHARMA    AR2 GR            135.2      (23.3)      72.2
ARRAY BIOPHARMA    AR2 TH            135.2      (23.3)      72.2
ASPEN AEROGELS I   AP1 GR             88.2      (80.7)      (5.2)
ASPEN AEROGELS I   ASPN US            88.2      (80.7)      (5.2)
AUTOZONE INC       AZ5 TH          7,371.8   (1,808.2)  (1,016.1)
AUTOZONE INC       AZ5 GR          7,371.8   (1,808.2)  (1,016.1)
AUTOZONE INC       AZO US          7,371.8   (1,808.2)  (1,016.1)
AXIM INTERNATION   AXIM US             0.1       (0.1)      (0.1)
BERRY PLASTICS G   BP0 GR          5,367.0     (135.0)     684.0
BERRY PLASTICS G   BERY US         5,367.0     (135.0)     684.0
BIOCRYST PHARM     BCRX US            43.4       (5.7)      22.0
BIOCRYST PHARM     BO1 TH             43.4       (5.7)      22.0
BIOCRYST PHARM     BO1 GR             43.4       (5.7)      22.0
BRP INC/CA-SUB V   BRPIF US        2,019.7      (17.0)     172.7
BRP INC/CA-SUB V   DOO CN          2,019.7      (17.0)     172.7
BRP INC/CA-SUB V   B15A GR         2,019.7      (17.0)     172.7
BURLINGTON STORE   BUI GR          2,547.8     (136.3)     124.8
BURLINGTON STORE   BURL US         2,547.8     (136.3)     124.8
CABLEVISION SY-A   CVC US          6,542.9   (5,210.9)     281.8
CABLEVISION SY-A   CVY GR          6,542.9   (5,210.9)     281.8
CABLEVISION-W/I    CVC-W US        6,542.9   (5,210.9)     281.8
CABLEVISION-W/I    8441293Q US     6,542.9   (5,210.9)     281.8
CADIZ INC          CDZI US            60.2      (41.2)       7.1
CAESARS ENTERTAI   CZR US         24,376.7   (2,276.8)     566.0
CAESARS ENTERTAI   C08 GR         24,376.7   (2,276.8)     566.0
CALLIDUS CAPITAL   28K GR            444.5       (4.3)       -
CALLIDUS CAPITAL   CBL CN            444.5       (4.3)       -
CANNAVEST CORP     CANV US            10.7       (0.2)      (1.3)
CANNAVEST CORP     0VE GR             10.7       (0.2)      (1.3)
CAPMARK FINANCIA   CPMK US        20,085.1     (933.1)       -
CASELLA WASTE      CWST US           649.9       (8.5)     (18.9)
CC MEDIA-A         CCMO US        14,752.2   (9,315.2)   1,225.6
CENTENNIAL COMM    CYCL US         1,480.9     (925.9)     (52.1)
CENVEO INC         CVO US          1,206.8     (511.7)     145.0
CHOICE HOTELS      CZH GR            554.9     (454.6)     109.5
CHOICE HOTELS      CHH US            554.9     (454.6)     109.5
CIENA CORP         CIEN US         1,795.5      (80.8)     641.3
CIENA CORP         CIE1 GR         1,795.5      (80.8)     641.3
CIENA CORP         CIEN TE         1,795.5      (80.8)     641.3
CIENA CORP         CIE1 TH         1,795.5      (80.8)     641.3
CINCINNATI BELL    CBB US          2,101.5     (670.7)       7.7
CROWN BAUS CAPIT   CBCA US             0.0       (0.0)      (0.0)
DELEK LOGISTICS    D6L GR            301.3       (4.1)      14.8
DELEK LOGISTICS    DKL US            301.3       (4.1)      14.8
DEX MEDIA INC      DXM US          2,275.0     (782.0)     162.0
DEX MEDIA INC      9DX GR          2,275.0     (782.0)     162.0
DIRECTV            DTV US         22,520.0   (6,512.0)    (929.0)
DIRECTV            DTV CI         22,520.0   (6,512.0)    (929.0)
DIRECTV            DIG1 GR        22,520.0   (6,512.0)    (929.0)
DOMINO'S PIZZA     DPZ US            495.7   (1,289.7)     105.0
DOMINO'S PIZZA     EZV GR            495.7   (1,289.7)     105.0
DOMINO'S PIZZA     EZV TH            495.7   (1,289.7)     105.0
DUN & BRADSTREET   DB5 GR          1,807.2   (1,061.9)     (85.5)
DUN & BRADSTREET   DNB US          1,807.2   (1,061.9)     (85.5)
EDGEN GROUP INC    EDG US            883.8       (0.8)     409.2
ELEVEN BIOTHERAP   EBIO US             5.1       (6.1)      (2.9)
EMPIRE RESORTS I   LHC1 GR            38.7      (14.0)     (14.6)
EMPIRE RESORTS I   NYNY US            38.7      (14.0)     (14.6)
EMPIRE STATE -ES   ESBA US         1,122.2      (31.6)    (925.9)
EMPIRE STATE-S60   OGCP US         1,122.2      (31.6)    (925.9)
FAIRPOINT COMMUN   FRP US          1,546.4     (338.8)      25.3
FAIRPOINT COMMUN   FONN GR         1,546.4     (338.8)      25.3
FERRELLGAS-LP      FGP US          1,589.9      (88.9)      89.0
FERRELLGAS-LP      FEG GR          1,589.9      (88.9)      89.0
FIVE9 INC          1F9 GR             69.2       (9.0)      (1.9)
FIVE9 INC          FIVN US            69.2       (9.0)      (1.9)
FREESCALE SEMICO   FSL US          3,265.0   (3,728.0)   1,334.0
FREESCALE SEMICO   1FS GR          3,265.0   (3,728.0)   1,334.0
FREESCALE SEMICO   1FS TH          3,265.0   (3,728.0)   1,334.0
GAMING AND LEISU   2GL GR          2,561.9      (68.0)     (44.7)
GAMING AND LEISU   GLPI US         2,561.9      (68.0)     (44.7)
GENCORP INC        GCY TH          1,675.6      (49.0)      86.7
GENCORP INC        GCY GR          1,675.6      (49.0)      86.7
GENCORP INC        GY US           1,675.6      (49.0)      86.7
GENTIVA HEALTH     GHT GR          1,234.9     (297.6)      99.2
GENTIVA HEALTH     GTIV US         1,234.9     (297.6)      99.2
GLG PARTNERS INC   GLG US            400.0     (285.6)     156.9
GLG PARTNERS-UTS   GLG/U US          400.0     (285.6)     156.9
GLOBALSTAR INC     GSAT US         1,350.0      (74.3)     (97.3)
GLOBALSTAR INC     P8S GR          1,350.0      (74.3)     (97.3)
GLORI ENERGY INC   GLRI US             0.1       (0.0)       -
GOLD RESERVE INC   GRZ CN             21.5       (5.6)       1.2
GOLD RESERVE INC   GDRZF US           21.5       (5.6)       1.2
GRAHAM PACKAGING   GRM US          2,947.5     (520.8)     298.5
GTT COMMUNICATIO   GTT US            168.5       (0.1)     (25.3)
HCA HOLDINGS INC   HCA US         29,809.0   (6,467.0)   2,986.0
HCA HOLDINGS INC   2BH TH         29,809.0   (6,467.0)   2,986.0
HCA HOLDINGS INC   2BH GR         29,809.0   (6,467.0)   2,986.0
HD SUPPLY HOLDIN   5HD GR          6,552.0     (750.0)   1,446.0
HD SUPPLY HOLDIN   HDS US          6,552.0     (750.0)   1,446.0
HORIZON PHARMA I   HPM GR            299.1     (229.2)      93.2
HORIZON PHARMA I   HPM TH            299.1     (229.2)      93.2
HORIZON PHARMA I   HZNP US           299.1     (229.2)      93.2
HOVNANIAN ENT-A    HO3 GR          1,838.8     (462.5)   1,122.1
HOVNANIAN ENT-A    HOV US          1,838.8     (462.5)   1,122.1
HOVNANIAN ENT-B    HOVVB US        1,838.8     (462.5)   1,122.1
HOVNANIAN-A-WI     HOV-W US        1,838.8     (462.5)   1,122.1
HUGHES TELEMATIC   HUTC US           110.2     (101.6)    (113.8)
HUGHES TELEMATIC   HUTCU US          110.2     (101.6)    (113.8)
IMPRIVATA INC      I62 GR             35.6       (4.3)     (10.8)
IMPRIVATA INC      IMPR US            35.6       (4.3)     (10.8)
INCYTE CORP        ICY TH            666.8     (162.4)     474.2
INCYTE CORP        INCY US           666.8     (162.4)     474.2
INCYTE CORP        ICY GR            666.8     (162.4)     474.2
INFOR US INC       LWSN US         6,515.2     (555.7)    (303.6)
INTERCEPT PHARMA   I4P GR            141.9     (153.7)    (148.2)
INTERCEPT PHARMA   I4P TH            141.9     (153.7)    (148.2)
INTERCEPT PHARMA   ICPT US           141.9     (153.7)    (148.2)
IPCS INC           IPCS US           559.2      (33.0)      72.1
ISTA PHARMACEUTI   ISTA US           124.7      (64.8)       2.2
JUST ENERGY GROU   1JE GR          1,642.6     (117.4)     221.0
JUST ENERGY GROU   JE CN           1,642.6     (117.4)     221.0
JUST ENERGY GROU   JE US           1,642.6     (117.4)     221.0
KINAXIS INC        KXS CN             44.6      (70.4)      (6.4)
L BRANDS INC       LTD GR          6,663.0     (609.0)   1,070.0
L BRANDS INC       LB US           6,663.0     (609.0)   1,070.0
L BRANDS INC       LTD TH          6,663.0     (609.0)   1,070.0
LEAP WIRELESS      LEAP US         4,662.9     (125.1)     346.9
LEAP WIRELESS      LWI TH          4,662.9     (125.1)     346.9
LEAP WIRELESS      LWI GR          4,662.9     (125.1)     346.9
LEE ENTERPRISES    LEE US            797.3     (155.6)       0.8
LORILLARD INC      LLV GR          3,912.0   (2,161.0)     897.0
LORILLARD INC      LLV TH          3,912.0   (2,161.0)     897.0
LORILLARD INC      LO US           3,912.0   (2,161.0)     897.0
LUMENPULSE INC     LMP CN             29.4      (38.4)       3.5
LUMENPULSE INC     0L6 GR             29.4      (38.4)       3.5
LUMENPULSE INC     LMPLF US           29.4      (38.4)       3.5
MARRIOTT INTL-A    MAQ GR          6,665.0   (1,625.0)  (1,031.0)
MARRIOTT INTL-A    MAQ TH          6,665.0   (1,625.0)  (1,031.0)
MARRIOTT INTL-A    MAR US          6,665.0   (1,625.0)  (1,031.0)
MDC PARTNERS-A     MDCA US         1,570.3      (94.1)    (218.7)
MDC PARTNERS-A     MD7A GR         1,570.3      (94.1)    (218.7)
MDC PARTNERS-A     MDZ/A CN        1,570.3      (94.1)    (218.7)
MERITOR INC        AID1 GR         2,531.0     (782.0)     298.0
MERITOR INC        MTOR US         2,531.0     (782.0)     298.0
MERRIMACK PHARMA   MACK US           165.0      (65.8)      81.9
MERRIMACK PHARMA   MP6 GR            165.0      (65.8)      81.9
MICHAELS COS INC   MIK US          1,716.0   (2,734.0)     493.0
MICHAELS COS INC   MIM GR          1,716.0   (2,734.0)     493.0
MONEYGRAM INTERN   MGI US          4,761.4      (39.5)     115.9
MORGANS HOTEL GR   MHGC US           695.2     (202.0)     129.7
MORGANS HOTEL GR   M1U GR            695.2     (202.0)     129.7
MOXIAN CHINA INC   MOXC US             0.0       (0.0)      (0.0)
MPG OFFICE TRUST   MPG US          1,280.0     (437.3)       -
NATIONAL CINEMED   XWM GR            998.4     (179.2)      99.9
NATIONAL CINEMED   NCMI US           998.4     (179.2)      99.9
NAVISTAR INTL      IHR TH          7,727.0   (4,072.0)   1,070.0
NAVISTAR INTL      NAV US          7,727.0   (4,072.0)   1,070.0
NAVISTAR INTL      IHR GR          7,727.0   (4,072.0)   1,070.0
NEKTAR THERAPEUT   ITH GR            487.0       (9.8)     225.5
NEKTAR THERAPEUT   NKTR US           487.0       (9.8)     225.5
NEW ENG RLTY-LP    NEN US            180.1      (23.2)       -
NEXSTAR BROADC-A   NXZ GR          1,148.8       (8.4)     134.7
NEXSTAR BROADC-A   NXST US         1,148.8       (8.4)     134.7
NII HOLDING INC    NIHD* MM        8,189.7       (8.8)   1,078.9
NORTHWEST BIO      NWBO US            12.5      (31.1)     (31.2)
NORTHWEST BIO      NBYA GR            12.5      (31.1)     (31.2)
NYMOX PHARMACEUT   NYMX US             0.9       (6.3)      (3.8)
OMTHERA PHARMACE   OMTH US            18.3       (8.5)     (12.0)
OPOWER INC         38O TH             63.1       (6.3)     (11.9)
OPOWER INC         OPWR US            63.1       (6.3)     (11.9)
OPOWER INC         38O GR             63.1       (6.3)     (11.9)
PALM INC           PALM US         1,007.2       (6.2)     141.7
PHIBRO ANIMAL HE   PAO EU            473.3      (78.7)     177.3
PHIBRO ANIMAL HE   PAHC LN           473.3      (78.7)     177.3
PHIBRO ANIMAL HE   PAO GR            473.3      (78.7)     177.3
PHIBRO ANIMAL-A    PAHC US           473.3      (78.7)     177.3
PHIBRO ANIMAL-A    PB8 GR            473.3      (78.7)     177.3
PHILIP MORRIS IN   PMI SW         36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PM1CHF EU      36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   4I1 GR         36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PM1EUR EU      36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PM1 TE         36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   4I1 TH         36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PM FP          36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PM US          36,325.0   (7,847.0)   1,130.0
PLAYBOY ENTERP-A   PLA/A US          165.8      (54.4)     (16.9)
PLAYBOY ENTERP-B   PLA US            165.8      (54.4)     (16.9)
PLY GEM HOLDINGS   PGEM US         1,033.7     (107.2)     199.4
PLY GEM HOLDINGS   PG6 GR          1,033.7     (107.2)     199.4
PROTALEX INC       PRTX US             2.8       (7.0)       2.3
PROTECTION ONE     PONE US           562.9      (61.8)      (7.6)
QUALITY DISTRIBU   QDZ GR            443.2      (51.2)     106.0
QUALITY DISTRIBU   QLTY US           443.2      (51.2)     106.0
QUINTILES TRANSN   Q US            3,061.9     (559.5)     571.3
QUINTILES TRANSN   QTS GR          3,061.9     (559.5)     571.3
RADIUS HEALTH IN   RDUS US            12.8      (24.5)     (22.7)
RADIUS HEALTH IN   1R8 GR             12.8      (24.5)     (22.7)
RADNET INC         RDNT US           737.2       (9.3)      61.4
RADNET INC         PQI GR            737.2       (9.3)      61.4
REGAL ENTERTAI-A   RETA GR         2,787.3     (751.2)     142.6
REGAL ENTERTAI-A   RGC US          2,787.3     (751.2)     142.6
RENAISSANCE LEA    RLRN US            57.0      (28.2)     (31.4)
RENTPATH INC       PRM US            208.0      (91.7)       3.6
RETROPHIN INC      17R GR             94.0      (35.4)    (107.0)
RETROPHIN INC      RTRX US            94.0      (35.4)    (107.0)
REVLON INC-A       RVL1 GR         2,105.1     (589.0)     248.9
REVLON INC-A       REV US          2,105.1     (589.0)     248.9
RITE AID CORP      RAD US          6,946.5   (2,046.4)   1,643.0
RITE AID CORP      RTA GR          6,946.5   (2,046.4)   1,643.0
RITE AID CORP      RTA TH          6,946.5   (2,046.4)   1,643.0
ROCKWELL MEDICAL   RWM GR             26.8       (3.5)       8.2
ROCKWELL MEDICAL   RMTI US            26.8       (3.5)       8.2
RURAL/METRO CORP   RURL US           303.7      (92.1)      72.4
SABRE CORP         19S GR          4,750.4     (312.9)    (279.6)
SABRE CORP         19S TH          4,750.4     (312.9)    (279.6)
SABRE CORP         SABR US         4,750.4     (312.9)    (279.6)
SALLY BEAUTY HOL   SBH US          2,106.0     (268.8)     715.8
SALLY BEAUTY HOL   S7V GR          2,106.0     (268.8)     715.8
SEQUENOM INC       SQNM US           122.9      (58.6)      40.8
SERVICEMASTER GL   SERV US         5,197.0     (369.0)     240.0
SERVICEMASTER GL   SVW GR          5,197.0     (369.0)     240.0
SILVER SPRING NE   9SI GR            524.4      (97.1)      97.5
SILVER SPRING NE   9SI TH            524.4      (97.1)      97.5
SILVER SPRING NE   SSNI US           524.4      (97.1)      97.5
SIRIUS XM CANADA   SIICF US          409.2      (78.8)    (157.0)
SIRIUS XM CANADA   XSR CN            409.2      (78.8)    (157.0)
SPORTSMAN'S WARE   06S GR            272.7      (52.1)      75.1
SPORTSMAN'S WARE   SPWH US           272.7      (52.1)      75.1
SUNEDISON INC      SUNE US         7,166.1     (236.5)     250.8
SUNEDISON INC      SUNE* MM        7,166.1     (236.5)     250.8
SUNEDISON INC      WFR GR          7,166.1     (236.5)     250.8
SUNEDISON INC      WFR TH          7,166.1     (236.5)     250.8
SUNGAME CORP       SGMZ US             2.2       (3.6)      (3.9)
SUPERVALU INC      SVU US          4,354.0     (682.0)     106.0
SUPERVALU INC      SJ1 TH          4,354.0     (682.0)     106.0
SUPERVALU INC      SJ1 GR          4,354.0     (682.0)     106.0
SUPERVALU INC      SVU* MM         4,354.0     (682.0)     106.0
SURNA INC          SRNA US             0.1       (2.7)      (2.6)
THRESHOLD PHARMA   NZW1 GR            94.7      (29.0)      50.3
THRESHOLD PHARMA   THLD US            94.7      (29.0)      50.3
TRANSDIGM GROUP    TDG US          6,399.3     (125.6)     975.5
TRANSDIGM GROUP    T7D GR          6,399.3     (125.6)     975.5
TRINET GROUP INC   TN3 GR          1,340.4      (46.1)      93.8
TRINET GROUP INC   TNET US         1,340.4      (46.1)      93.8
TRINET GROUP INC   TNETEUR EU      1,340.4      (46.1)      93.8
TRUPANION INC      TPW GR             49.0       (5.5)       7.2
TRUPANION INC      TRUP US            49.0       (5.5)       7.2
ULTRA PETROLEUM    UPL US          2,881.8     (227.7)    (374.8)
ULTRA PETROLEUM    UPM GR          2,881.8     (227.7)    (374.8)
UNISYS CORP        USY1 GR         2,336.1     (628.5)     369.7
UNISYS CORP        UISEUR EU       2,336.1     (628.5)     369.7
UNISYS CORP        USY1 TH         2,336.1     (628.5)     369.7
UNISYS CORP        UISCHF EU       2,336.1     (628.5)     369.7
UNISYS CORP        UIS1 SW         2,336.1     (628.5)     369.7
UNISYS CORP        UIS US          2,336.1     (628.5)     369.7
VANGUARD MINING    VNMC US             1.4       (1.5)      (0.2)
VARONIS SYSTEMS    VRNS US            33.7       (1.5)       1.8
VARONIS SYSTEMS    VS2 GR             33.7       (1.5)       1.8
VECTOR GROUP LTD   VGR US          1,459.2      (12.6)     422.5
VECTOR GROUP LTD   VGR GR          1,459.2      (12.6)     422.5
VENOCO INC         VQ US             738.2     (130.8)     (13.4)
VERISIGN INC       VRS GR          2,322.6     (632.9)    (246.0)
VERISIGN INC       VRS TH          2,322.6     (632.9)    (246.0)
VERISIGN INC       VRSN US         2,322.6     (632.9)    (246.0)
VERSO PAPER CORP   VRS US          1,062.8     (507.2)      83.6
VIRGIN MOBILE-A    VM US             307.4     (244.2)    (138.3)
WEIGHT WATCHERS    WW6 TH          1,483.1   (1,452.8)     (31.0)
WEIGHT WATCHERS    WW6 GR          1,483.1   (1,452.8)     (31.0)
WEIGHT WATCHERS    WTW US          1,483.1   (1,452.8)     (31.0)
WEST CORP          WT2 GR          3,544.1     (709.4)     405.3
WEST CORP          WSTC US         3,544.1     (709.4)     405.3
WESTMORELAND COA   WLB US          1,407.1     (206.2)     (30.5)
WESTMORELAND COA   WME GR          1,407.1     (206.2)     (30.5)
XERIUM TECHNOLOG   XRM US            631.1      (11.8)     104.4
XERIUM TECHNOLOG   TXRN GR           631.1      (11.8)     104.4
YRC WORLDWIDE IN   YRCW US         2,215.1     (363.1)     193.6
YRC WORLDWIDE IN   YEL1 TH         2,215.1     (363.1)     193.6
YRC WORLDWIDE IN   YEL1 GR         2,215.1     (363.1)     193.6



                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com by e-mail.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to the nation's bankruptcy courts.  The
list includes links to freely downloadable of these small-dollar
petitions in Acrobat PDF documents.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Ivy B. Magdadaro, Carlo Fernandez,
Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2014.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-241-8200.


                  *** End of Transmission ***