TCR_Public/140804.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Monday, August 4, 2014, Vol. 18, No. 215

                            Headlines

21ST CENTURY ONCOLOGY: S&P Cuts CCR to 'CCC+' on Recapitalization
22ND CENTURY: Obtains Patents for Technology to Remove Nicotene
407-409 ROCKAWAY: Case Summary & 4 Unsecured Creditors
ACCIPITER COMMS: Wants Plan Filing Exclusivity Moved to Aug. 27
ADVANTAGE CARE: Case Summary & 14 Unsecured Creditors

AFFYMAX INC: Posts $7.2 Million Net Income in Second Quarter
ALION SCIENCE: Registers $246.3 Million Worth of Securities
ALL AMERICAN PRODUCTS: Case Summary & 20 Top Unsecured Creditors
ALLY FINANCIAL: Reports $323 Million Net Income in 2nd Quarter
AMERICAN AXLE: Posts $52.2 Million Net Income in Second Quarter

AMERICAN RESOURCE: Files for Bankruptcy Amid Slowdown
AMERICAN RESOURCE: Case Summary & Largest Unsecured Creditors
ARAMID ENTERTAINMENT: Gets OK to Joint Administration of Cases
ASPEN GROUP: Incurs $5.3 Million Net Loss in Fiscal 2014
AUXILIUM PHARMACEUTICALS: To Get $10-Mil. in Milestone Payment

BERRY PLASTICS: Posts $15 Million Net Income in Third Quarter
BIOFUEL ENERGY: Incurs $2.7 Million Net Loss in Second Quarter
BIOFUELS POWER: Plans to Build Gas-to-Liquids Plant in Texas
BROADVIEW NETWORKS: Incurs $1.1 Million Net Loss in 2nd Quarter
BUCCANEER ENERGY: Has Aug. 27 Plan Confirmation Hearing

BUDD COMPANY: Court Extends Exclusive Period to August 29
BUDD COMPANY: Court Appoints Diana Adams as Fee Examiner
BUDD COMPANY: Claimants Defer Filing Asbestos Claim Form
BUILDERS FIRSTSOURCE: Files Form 10-Q, Earns $10.6-Mil. in Q2
BRAUN DEVELOPMENT: Case Summary & 15 Unsecured Creditors

BWAY HOLDING: S&P Lowers CCR to 'B-' on Dividend Recap
CAESARS ENTERTAINMENT: Fitch Raises Secured Debt Rating to CCC+
CAESARS ENTERTAINMENT: Bank Debt Trades at 7% Off
CDW LLC: S&P Assigns 'B' Rating to $600MM Sr. Unsecured Notes
CHARTER COMMUNICATIONS: S&P Rates New $8.9BB Secured Loans 'BB+'

CLEAREDGE POWER: Seeks Extension of Exclusivity Periods
COLOR STAR GROWERS: Seeks Extension of Solicitation Period
CPI BUYER: S&P Assigns 'B' CCR & Rates $260MM Facility 'B'
CROWN MEDIA: Posts $16 Million Net Income in Second Quarter
CRUMBS BAKE SHOP: Noah Reynolds Dumps Equity Stake

CRYOPORT INC: Incurs $3.1 Million Net Loss in Q1 Fiscal 2015
DIAGNOSTICS RESEARCH: Case Summary & 20 Top Unsecured Creditors
DOW CORNING: Tissue Expanders Are Breast Implants, 6th Cir. Says
DOW CORNING: $1.6BB Breast Implant Suit Reserve at June 30
DTS8 COFFEE: Delays Form 10-K for Fiscal 2014

E.W. SCRIPPS: S&P Puts 'BB-' CCR on Watch Pos. Over Merger Plans
EDGENET INC: Wins September Extension of Plan Exclusivity Period
ENERGY SERVICES: S&P Assigns 'B' CCR; Outlook Stable
ESPIRITO SANTO FINANCIERE: Files for Creditor Protection
EXIDE TECHNOLOGIES: Has $217.7MM Net Loss in Fiscal Year 2014

EXIDE TECHNOLOGIES: Obtains Amendments to DIP Loan Covenants
EXIDE TECHNOLOGIES: Needs Until December to File Plan
EXIDE TECHNOLOGIES: Can Obtain $65-Mil. of Additional Financing
FALCON STEEL: Termination Date in Cash Collateral Order Moved
FLORIDA GAMING: Court Confirms Liquidation Plan

FURNITURE BRANDS: 2nd Amended Liquidation Plan Declared Effective
FURNITURE BRANDS: Rejection & Admin Claims Bar Date Set
GENERAL MOTORS: HMG Files Pre-Bankruptcy Ignition Switch Suits
GETTY IMAGES: Bank Debt Trades at 4% Off
GFI GROUP: Merger Plans Cues Fitch to Put BB- Ratings on Watch Pos

GMAC MORTGAGE: 10th Cir. Affirms Ruling in "McKinsey" Suit
GOLDEN LAND: Receiver, Creditor Seek Bar Dates
GOLDEN LAND: Receiver, Creditor Seek to End Exclusive Periods
GOOD SHEPHERD: S&P Retains 'BB+' Rating on CreditWatch Negative
GREEN MOUNTAIN: Seeks to Reject Selwood Contract

GREEN MOUNTAIN: Seeks Authority to Use UMB Bank Cash Collateral
HOFFNER'S NURSERY: Case Summary & 20 Largest Unsecured Creditors
IMH FINANCIAL: Restructures Debt; Appoints New Board Members
INTERNATIONAL MARKETS: S&P Assigns 'B' Corp. Credit Rating
ISR GROUP: Hearing to Consider Plan Outline Approval on Sept. 11

J.A.D HOSPITALITY: Case Summary & 4 Unsecured Creditors
JACKSONVILLE BANCORP: Regains Compliance with NASDAQ Rule
JACOBS FINANCIAL: Malin Bergquist Resigns as Accountant
JAMES RIVER: Proofs of Claim Deadline Set for Sept. 22
KEMET CORP: Files Form 10-Q, Incurs $3.5MM Net Loss in Q2

KID BRANDS: Sassy Inc. Assets to Be Sold to Angelcare for $14MM
KIDSPEACE CORP: Court Allows Plan to Become Effective
LEHMAN BROTHERS: Raises Estimate of Recovered Funds to $88.8B
LIBERTY INTERACTIVE: FTD Transaction No Impact on Fitch Ratings
LUCID INC: Suspending Filing of Reports with SEC

MANISTIQUE PAPERS: Lowenstein Fees May be Paid From Remark Deal
MARINA BIOTECH: Pryor Cashman Holds 4.9% Equity Stake
MAUI LAND: Reports $477,000 Net Income in Second Quarter
MISSION NEW ENERGY: Had A$458,000 in Cash at June 30
MMODAL INC: Completes Financial Restructuring; Exits Chapter 11

MOONLIGHT APARTMENTS: Receiver Seeks Dismissal of SARE Case
MUSCLEPHARM CORP: Inks Employment Agreements with CFO and COO
NASSAU TOWER: TD Bank Blocks Confirmation of 2nd Amended Plan
NATIONAL ED: Fitch Cuts & Withdraws Sub. Notes Rating to 'B-sf'
NATIVE WHOLESALE: Amended Plan Okayed, Dismissal Motion Withdrawn

NELSON EDUCATION: S&P Withdraws 'D' Corporate Credit Rating
NEOMEDIA TECHNOLOGIES: To Restate 2013 10-K and Q1 2014 10-Q
NEW ENGLAND COMPOUNDING: Judge Approves Settlements
NEW WORLD RESOURCES: Files in Manhattan for UK Restructuring
NEWPAGE CORP: S&P Retains 'B+' CCR on CreditWatch Negative

NN INC: S&P Assigns 'B+' CCR & Rates $350MM Secured Loan 'B+'
OHANA GROUP: Bush Strout & Kornfeld Withdraws as Counsel
OHANA GROUP: Prior Counsel Asks Court to Convert Case to Chapter 7
PRODUCTION RESOURCE: S&P Rates New $150 Million Term Loan 'CCC+'
RAAM GLOBAL: S&P Lowers Corp. Credit Rating to 'CCC+'

REAL ESTATE ASSOCIATES: Delists Limited Partnership Units
RIVER CITY RENAISSANCE: Files for Ch. 11 in Richmond, Virginia
ROCKWELL MEDICAL: Incurs $3.2 Million Net Loss in Second Quarter
SCRUB ISLAND: Panel Objects to Firstbank's Bid for Stay Relief
SEALED AIR: S&P Assigns 'BB+' Rating on $2.13-Bil. Secured Loans

SEQUENOM INC: Earns $4.4 Million in Second Quarter
SEQUENOM INC: Posts $4.4 Million Net Earnings in Second Quarter
SG ACQUISITION: S&P Affirms 'B' CCR & Rates $225MM Loans 'B'
SMHC LLC: Plan Confirmation Hearing on Sept. 9
STACEY ELECTRIC: Files Bankruptcy; Creditors Meeting on Aug. 12

TACTICAL INTERMEDIATE: Sec. 341 Creditors' Meeting Set for Aug. 11
TACTICAL INTERMEDIATE: 3-Member Creditor's Committee Formed
TALOS ENERGY: S&P Revises Outlook to Positive & Affirms 'B-' CCR
TRINITY COAL: Unit Can't Reject Agreements With ICG Entities
UNIFIED 2020: Has Final Authority to Use Cash Collateral

USEC INC: ACTDO Agreement Extended Through March 2015
VERIS GOLD: Obtains Sept. 4 Extension of CCAA Stay Period
VERSO PAPER: Announces Final Results of Exchange Offer
VIAWEST INC: S&P Puts 'B' CCR on Watch Pos. Over Shaw Comm. Deal
VULCAN MATERIALS: S&P Raises Corp. Credit Rating to 'BB+'

WALTER ENERGY: Incurs $151.4 Million Net Loss in 2nd Quarter
WALTER ENERGY: Bank Debt Trades at 6% Off
WORLD PROPERTIES: Must File Plan by Sept. 5 to Avoid Foreclosure
WPCS INTERNATIONAL: CFO to Resign on August 31
WPCS INTERNATIONAL: Sold Australia Operations for $1.4 Million

YMCA OF METROPOLITAN: Panel Has Nod to Hire Goldstein as Counsel
ZODIAC POOL SOLUTIONS: Seeks U.S. Recognition of UK Plan

* Bankruptcy Filings Down 12% in June 2014
* Diligence Required to Avoid Pension Plan Minefields, Huron Says

* U.S. Judge Rejects Argentina's Appeal for New Mediator

* Jeffrey Manning Joins Reznick Capital as Managing Director

* BOND PRICING: For Week From July 28 to August 1, 2014


                             *********


21ST CENTURY ONCOLOGY: S&P Cuts CCR to 'CCC+' on Recapitalization
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered all of its ratings on
21st Century Oncology Holdings Inc., including the corporate
credit rating to 'CCC+'.  The outlook is negative, reflecting the
potential for the company to exchange a portion of its
subordinated note claims for equity.

"We lowered our ratings because of increased risk that the company
could exchange its $380 million subordinated notes for equity,"
said credit analyst Tulip Lim.  "If consummated, the transaction
would reduce the company's leverage by eliminating $380 million of
debt and improve cash flow, but we would view the transaction
itself as tantamount to default."

The outlook is negative, reflecting the risk of a near-term debt
for equity exchange.

Downside scenario

S&P could lower the ratings if the company's sponsors do not
provide the company with additional liquidity and the subordinated
noteholders exchange their notes for equity.  In this scenario,
S&P will lower the corporate credit rating to 'SD' and reassess
the new capital structure to determine a final rating.  If the
company announces that it plans for file for bankruptcy or misses
an interest payment, S&P would likely lower the rating to 'D'.

Upside scenario

S&P could raise the rating if the company receives additional
liquidity.


22ND CENTURY: Obtains Patents for Technology to Remove Nicotene
---------------------------------------------------------------
The U.S. Patent and Trademark Office (USPTO) on July 29, 2014, and
the Korean Intellectual Property Office on July 23, 2014, each
granted a patent to 22nd Century Group, Inc., for its NBB
technology that virtually eliminates nicotine in the tobacco
plant.  The resulting tobacco plants are planted, grown,
harvested, cured, processed, and made into tobacco products,
including cigarettes, exactly the same as conventional tobacco.

U.S. Patent 8,791,329, Reducing Levels of Nicotinic Alkaloids in
Plants, contains 33 claims.  South Korean Patent 10-1413122, also
titled, Reducing Levels of Nicotinic Alkaloids in Plants, contains
15 claims.  These two patents and related International Patent
Application PCT/IB2006/001741, cover methods for producing tobacco
plants with decreased nicotine levels and the resulting tobacco
plants and products produced therefrom.  There are various
continuation and divisional patent applications related to these
granted patents pending in both patent offices.

The term of U.S. Patent 8,791,329 has been extended by the USPTO
by 1,309 days due to prosecution delays at the USPTO.  Joseph
Pandolfino, 22nd Century Group's founder and CEO, stated, "We are
pleased that the USPTO's patent term adjustment will extend the
life of this key Company patent through September 2029.  This
technology will be utilized worldwide for our next generation very
low nicotine (VLN) cigarettes, which we expect to have
approximately 1% of the nicotine of conventional cigarettes - a
99% reduction."  Conventional tobacco can easily be blended with
the Company's VLN tobacco to produce tobacco with any desired
nicotine content.

Patent applications for the NBB technology have been filed by 22nd
Century worldwide and patents are currently issued to 22nd Century
in the U.S., China, Europe, Japan, South Korea, Taiwan, Mexico,
Australia and South Africa.

The NBB gene encodes a protein, "nicotine synthase," that is
involved in the final step of nicotine biosynthesis.  Having
eluded scientists for decades, this protein can be down-regulated
or up-regulated to produce tobacco varieties with a wide range of
nicotine levels.

                         About 22nd Century

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

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


407-409 ROCKAWAY: Case Summary & 4 Unsecured Creditors
------------------------------------------------------
Debtor: 407-409 Rockaway Realty LLC
        6743 182nd Street
        Flushing, NY 11365

Case No.: 14-43933

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: July 31, 2014

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

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Arnold Mitchell Greene, Esq.
                  ROBINSON BROG LEINWAND GREENE
                  GENOVESE & GLUCK P.C.
                  875 Third Avenue, 9th Floor
                  New York, NY 10022
                  Tel: (212) 603-6399
                  Fax: (212) 956-2164
                  Email: amg@robinsonbrog.com

Total Assets: $1.30 million

Total Liabilities: $1.28 million

The petition was signed by Yehonathan Ovadia, sole member.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb14-43933.pdf


ACCIPITER COMMS: Wants Plan Filing Exclusivity Moved to Aug. 27
---------------------------------------------------------------
Accipiter Communications, Inc. has requested that the Bankruptcy
Court for the District of Arizona grant an extension to its
exclusive period for filing and soliciting acceptances to its
chapter 11 Plan of Reorganization.

Specifically, Accipiter asks the Court to extend for 30 days,
until Aug. 27, 2014, the exclusive right to file a chapter 11
plan, and for 60 days thereafter, until Oct. 26, 2014, the
exclusive right to gain acceptances of its plan.

Since filing its chapter 11 petition on March 28, 2014, the Debtor
has been engaged in active negotiations with its secured lender,
Rural Utilities Service of the U.S. Department of Agriculture
(RUS), and the Official Committee of Unsecured Creditors.  The
Debtor believes the parties are close to working out a consensual
plan.  In fact, the Debtor states that neither RUS nor the
Committee is opposed to the brief extension which would allow a
consensual plan to be fully formulated. The bankruptcy estate
would not be prejudiced by the extension because the Debtor is
current on all its obligations.

The Debtor argues that there is "cause" under Sec. 1121(d) of the
Bankruptcy Code for granting the extension because the extension
would "facilitate movement towards a fair and equitable resolution
of the case."  In re Henry Mayo Newhall Memorial Hospital, 282
B.R. 444 (9th Cir. B.A.P. 2002).

The Debtor requested an expedited hearing on the request because
its current exclusive period expires on July 28th.  The Debtor is
requesting that the exclusive period be extended to August 27th
and that the solicitation period be extended to September 26th.

The Debtor is represented by Jordan A. Kroop, Esq. and Bradley A.
Cosman, Esq. at Perkins Coie LLP of Phoenix, AZ.

A hearing on the Debtor's request is scheduled for August 5 in
Phoenix.

                 About Accipiter Communications

Accipiter Communications, Inc., a Phoenix-based company that
provides telecommunications services to unserved or underserved,
mostly rurally-situated residences and businesses in central
Arizona, filed a Chapter 11 bankruptcy petition (Bankr. D. Ariz.
Case No. 14-04372) in its hometown on March 28, 2014.

Accipiter provides telecommunications services to 1,409
residential subscribers and 231 business subscribers, including an
elementary school, an enforcement agency, a fire station, two
municipal water supply facilities, and a bank.

The Debtor is able to provide telecommunications services to rural
customers only by participating in two federal programs: revenue
subsidies from the federal Universal Service Fund, which is
administered under the authority of the Federal Communications
Commission, and capital debt financing provided under a rural
telecommunications loan program administered by the Rural
Utilities Service, an agency of the U.S. Department of
Agriculture.

As of the Petition Date, the Debtor owed $20.8 million in
aggregate principal to the RUS.  The Debtor believes there is
approximately $414,000 in prepetition general unsecured claims
held by trade vendors or other parties against the Debtor.  The
Debtor is a privately held company, with 55.4% of the stock held
by Lewis van Amerongen.  In its schedules, the Debtor listed
$31,250,731 in total assets and $21,628,826 in total liabilities.

The bankruptcy case is assigned to Judge George B. Nielsen Jr.

The Debtor has tapped Perkins Coie LLP as counsel.

Ilene J. Lashinsky, U.S. Trustee for Region 14, appointed these
three creditors to serve in the Official Committee of Unsecured
Creditors.  The Committee retained Stinson Leonard Street LLP as
counsel.


ADVANTAGE CARE: Case Summary & 14 Unsecured Creditors
-----------------------------------------------------
Debtor: Advantage Care In Home Services, Inc.
        PO Box 1258
        Henderson, NC 27536

Case No.: 14-04360

Chapter 11 Petition Date: July 31, 2014

Court: United States Bankruptcy Court
       Eastern District of North Carolina

Judge: Hon. David M. Warren

Debtor's Counsel: Danny Bradford, Esq.
                  PAUL D. BRADFORD, PLLC
                     dba BRADFORD LAW OFFICES
                  455 Swiftside Drive, Suite 106
                  Cary, NC 27518-7198
                  Tel: 919 758-8879
                  Fax: 919 803-0683
                  Email: dbradford@bradford-law.com

Total Assets: $807,697

Total Liabilities: $1.17 million

The petition was signed by Janice D. Ward, president.

A list of the Debtor's 14 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nceb14-04360.pdf


AFFYMAX INC: Posts $7.2 Million Net Income in Second Quarter
------------------------------------------------------------
Affymax, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
and comprehensive income of $7.20 million on $42,000 of total
revenue for the three months ended June 30, 2014, as compared with
net income and comprehensive income of $15.37 million on $525,000
of total revenue for the same period last year.

For the six months ended June 30, 2014, the Company reported net
income and comprehensive income of $5.81 million on $42,000 of
total revenue as compared with a net loss and comprehensive loss
of $11.67 million on $1.36 million of total revenue for the six
months ended June 30, 2013.

As of JUne 30, 2013, the Company had $5.38 million in total
assets, $214,000 in total liabilities, all current, and $5.17
million in total stockholders' equity.

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

                        http://goo.gl/39kMOu

                          About Affymax

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

                         Bankruptcy Warning

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

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

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


ALION SCIENCE: Registers $246.3 Million Worth of Securities
-----------------------------------------------------------
Alion Science and Technology Corporation, on May 13, 2014,
commenced an exchange offer, consent solicitation and unit
offering pursuant to the registration statement on Form S-1, which
registration statement was originally filed with the SEC on Feb.
13, 2014, as amended and declared effective on May 9, 2014, and
the related prospectus, as amended.  On July 29, the Company filed
a new registration statement on Form S-1 which combines the
securities registered on the Exchange Offer Registration Statement
with the following additional securities registered:

   (1) 643,094 shares of Common Stock underlying Warrants; and

   (2) $246,387,430 aggregate principal amount of Third-Lien
       Senior Secured Notes due 2020 that may be issued as payment
       of interest on the Third-Lien Notes issuable in the
       exchange offer.

The Exchange Offer and Consent Solicitation will expire at 9:00
a.m., New York City time, on Wednesday, Aug. 13, 2014, unless
extended by the Company.  Holders who tender Old Notes at or prior
to 5:00 p.m., New York City time, on Tuesday, Aug. 12, 2014, will
receive an Early Tender Payment.  Tenders of Old Notes may be
withdrawn at any time at or prior to the Expiration Date.

The Unit Offering will expire on the Early Tender Date.  The
election to purchase Units in the Unit Offering cannot be revoked
except that a valid withdrawal of Old Notes in the Exchange Offer
will be deemed to have revoked any election to purchase Units in
the Unit Offering.

As of July 29, 2014, holders of Old Notes representing 90.74% of
the Old Notes outstanding have tendered their Old Notes in the
Exchange Offer.  Holders of Old Notes who have already validly
tendered their Old Notes pursuant to the Exchange Offer and
Consent Solicitation do not need to take any further action to
receive the applicable Exchange Consideration or Total
Consideration on the settlement date.

A full-text copy of the Form S-1 prospectus is available at:

                       http://is.gd/iXMJMd

                       About Alion Science

Alion Science and Technology Corporation, based in McLean,
Virginia, is an employee-owned company that provides scientific
research, development, and engineering services related to
national defense, homeland security, and energy and environmental
analysis.  Particular areas of expertise include communications,
wireless technology, netcentric warfare, modeling and simulation,
chemical and biological warfare, program management.

Alion Science has been reporting losses for four consecutive years
from Sept. 30, 2010, to Sept. 30, 2013.  In 2013, Alion Science
incurred a net loss of $36.59 million.

Deloitte & Touche LLP, in McLean, Virginia, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Sept. 30, 2013.  The independent auditors noted
that the Company does not expect to be able to repay its existing
debt at their scheduled maturities.  The Company's financing
needs, its recurring net losses, and its excess of liabilities
over assets raise substantial doubt about its ability to continue
as a going concern, the auditors stated.

                           *     *     *

As reported by the TCR on March 10, 2014, Standard & Poor's
Ratings Services said it lowered its corporate credit rating on
McLean, Va.-based Alion Science and Technology Corp. to 'CC' from
'CCC+'.  "The ratings downgrade reflects a capital structure that
matures within 12 months, a currently 'weak' liquidity assessment,
which we revised from 'less than adequate', and our expectation
that we would classify an exchange offer or similar restructuring
undertaken by Alion as distressed," said Standard & Poor's credit
analyst Martha Toll-Reed.

In the May 23, 2014, edition of the TCR, Moody's Investors Service
affirmed, among other things, Alion Science & Technology
Corporation's ratings including the Caa2 Corporate Family Rating.
The affirmation of Alion's Caa2 corporate family rating reflects
the company's continued high leverage and weak interest coverage
metrics that are not anticipated to improve meaningfully in the
near-term, Moody's said.


ALL AMERICAN PRODUCTS: Case Summary & 20 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: All American Products Group, Inc.
        24901 Avenue Stanford
        Valencia, CA 91355

Case No.: 14-24709

Chapter 11 Petition Date: July 31, 2014

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

Judge: Hon. Richard M Neiter

Debtor's Counsel: Dennis E McGoldrick, Esq.
                  MCGOLDRICK
                  350 S Crenshaw Blvd Ste A207B
                  Torrance, CA 90503
                  Tel: 310-328-1001
                  Email: dmcgoldricklaw@yahoo.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Artorn Benyasri, authorized individual.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb14-24709.pdf


ALLY FINANCIAL: Reports $323 Million Net Income in 2nd Quarter
--------------------------------------------------------------
Ally Financial Inc. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $323 million on $2.10 billion of total financing revenue and
other interest income for the three months ended June 30, 2014, as
compared with a net loss of $927 million on $2 billion of total
financing revenue and other interest income for the same period
during the prior year.

For the six months ended June 30, 2014, the Company reported net
income of $550 million on $4.17 million of total financing revenue
and other interest income as compared with net income of $166
million on $3.96 billion of total financing revenue and other
interest income for the same period last year.

The Company's balance sheet at June 30, 2014, showed $149.93
billion in total assets, $135.05 billion in total liabilities and
$14.87 billion in total equity.

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

                       http://goo.gl/ERXj5r

                       About Ally Financial

Ally Financial Inc., formerly GMAC Inc. -- http://www.ally.com/--
is one of the world's largest automotive financial services
companies.  The Company offers a full suite of automotive
financing products and services in key markets around the world.
Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank,
offers online retail banking products.  Ally operates as a bank
holding company.

GMAC obtained a $17 billion bailout from the U.S. government in
exchange for a 56.3 percent stake.  Private equity firm Cerberus
Capital Management LP keeps 14.9 percent, while General Motors Co.
owns 6.7 percent.

As of March 31, 2014, the Company had $148.45 billion in total
assets, $133.99 billion in total liabilities and $14.45 billion in
total equity.

                           *     *     *

As reported by the TCR on Dec. 16, 2013, Standard & Poor's Ratings
Services said it raised its issuer credit rating on Ally Financial
Inc. to 'BB' from 'B+'.  "The upgrade reflects the company's
release from potential legal and financial liabilities stemming
from its ownership of ResCap," said Standard & Poor's credit
analyst Tom Connell.

In the April 3, 2014, edition of the TCR, Fitch Ratings has
upgraded Ally Financial Inc.'s long-term Issuer Default Rating
(IDR) and senior unsecured debt rating to 'BB+' from 'BB'.
The rating upgrade reflects increased clarity around Ally's
ownership structure given Ally's recent announcement that it has
launched an initial public offering those shares of its common
stock held by the U.S. Treasury (the Treasury).

As reported by the TCR on July 16, 2014, Moody's Investors Service
affirmed the Ba3 corporate family and B1 senior unsecured ratings
of Ally Financial, Inc. and revised the outlook for the ratings to
positive from stable.  Moody's affirmed Ally's ratings and revised
its rating outlook to positive based on the company's progress
toward sustained improvements in profitability and repayment of
government assistance received during the financial crisis.


AMERICAN AXLE: Posts $52.2 Million Net Income in Second Quarter
---------------------------------------------------------------
American Axle & Manufacturing Holdings, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing net income of $52.2 million on $946.9 million of
net sales for the three months ended June 30, 2014, as compared
with net income of $25.8 million on $799.6 million of net sales
for the same period last year.

For the six months ended June 30, 2014, the Company posted net
income of $85.8 million on $1.80 billion of net sales as compared
with net income of $33.1 million on $1.55 billion of net sales for
the same period during the prior year.

The Company's balance sheet at June 30, 2014, showed $3.20 billion
in total assets, $3.05 billion in total liabilities and $143.4
million in total equity.

"AAM's financial results in the second quarter of 2014 reflect
strong sales growth and profitability driven by the favorable
impact of increased production volumes across many of our major
product programs supporting the North American light vehicle
segment," said AAM's Chairman, president and chief executive
officer, David C. Dauch.  "AAM is energized to continue supporting
these and other new global product and process launches during the
remainder of this year and continuing through the year 2015.  Many
of these launches feature exciting new advanced driveline
technologies that are enhancing the diversification of our
business and positioning AAM for solid profitability and
consistent free cash flow generation."

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

                       http://goo.gl/RrM1dR

AAM's 2014 Outlook:

   * AAM is targeting full year sales of $3.7 billion in 2014.
     This sales projection is based on the anticipated launch
     schedule of programs in AAM's new and incremental business
     backlog and the assumption that the U.S. Seasonally Adjusted
     Annual Rate of sales ("SAAR") will increase from
     approximately 15.5 million light vehicle units in 2013 to a
     range of 16.25 million to 16.5 million light vehicle units in
     2014.

   * AAM is targeting EBITDA in the range of 13.5% to 14.0% of
     sales in 2014.

   * AAM is targeting free cash flow of approximately $100 million
     in 2014.

   * AAM is targeting full year capital spending to be
     approximately 6.5% of sales in 2014.

AAM's 2015 Targets:

   * AAM is targeting full year sales of $4 billion in 2015. This
     target is based on the anticipated launch schedule of
     programs in AAM's new and incremental business backlog and
     the assumption that the U.S. light vehicle SAAR will be
     approximately 16.5 million light vehicle units in 2015.

   * AAM is targeting free cash flow in the range of $175 million
     to $200 million in 2015.

                        About American Axle

Headquartered in Detroit, Michigan, American Axle & Manufacturing
Holdings Inc. (NYSE: AXL) -- http://www.aam.com/-- manufactures,
engineers, designs and validates driveline and drivetrain systems
and related components and chassis modules for light trucks, sport
utility vehicles, passenger cars, crossover vehicles and
commercial vehicles.

                           *     *     *

In September 2012, Moody's Investors Service affirmed the 'B1'
Corporate Family Rating (CFR) and Probability of Default Rating
(PDR) of American Axle.

American Axle carries a 'BB-' corporate credit rating from
Standard & Poor's Ratings Services.  "The 'BB-' corporate credit
rating on American Axle reflects the company's 'weak' business
risk profile and 'aggressive' financial risk profile, which
incorporate substantial exposure to the highly cyclical light-
vehicle market," S&P said, as reported by the TCR on Sept. 6,
2012.

As reported by the TCR on Sept. 5, 2013, Fitch Ratings has
affirmed the 'B+' Issuer Default Ratings of American Axle &
Manufacturing Holdings, Inc. (AXL) and its American Axle &
Manufacturing, Inc. (AAM) subsidiary.  The ratings and Positive
Outlook for AXL and AAM are supported by Fitch's expectation that
the drivetrain and driveline supplier's credit profile will
strengthen over the intermediate term, despite some deterioration
over the past year.


AMERICAN RESOURCE: Files for Bankruptcy Amid Slowdown
-----------------------------------------------------
Katy Stech, writing for Daily Bankruptcy Review, reported that
American Resource Staffing, which places hundreds of workers into
New England companies that need temporary help, filed for
bankruptcy protection to deal with its growing tax bill.


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

        Debtor                                     Case No.
        ------                                     --------
        American Resource Staffing Network, Inc.   14-11527
        165 South River Road, Unit C
        Bedford, NH 03110

        American Resource Network, Inc.            14-11529
        165 South River Road
        Bedford, NH 03110

Chapter 11 Petition Date: July 31, 2014

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

Debtors' Counsel: Deborah A. Notinger, Esq.
                  CLEVELAND, WATERS & BASS, P.A.
                  12 Murphy Drive, Suite 110
                  Nashua, NH 03062
                  Tel: (603) 966-3485
                  Email: notingerd@cwbpa.com

                     - and -

                  Steven M. Notinger, Esq.
                  CLEVELAND, WATERS, AND BASS, P.A.
                  Two Capital Plaza, 5th Floor
                  PO Box 1137
                  Concord, NH 03302
                  Tel: 603-224-7761
                  Fax: 603-224-6457
                  Email: notingers@cwbpa.com


                                     Estimated    Estimated
                                       Assets      Assets
                                     ----------   -----------
American Resource Staffing           $1MM-$10MM   $10MM-$50MM
American Resource Network            $0-$50,000   $1MM-$10MM

The petitions were signed by Richard Purtell, director.

A list of American Resource Staffing's 20 largest unsecured
creditors is available for free at:

            http://bankrupt.com/misc/nhb14-11527.pdf

A list of American Resource Network's eight largest unsecured
creditors is available for free at:

            http://bankrupt.com/misc/nhb14-11529.pdf


ARAMID ENTERTAINMENT: Gets OK to Joint Administration of Cases
--------------------------------------------------------------
The U.S. Bankruptcy Court approved Aramid Entertainment Fund
Limited's motion for an order directing joint administration of
related Chapter 11 Cases and authorizing the Debtors to file a
consolidated list of creditors.

The Chapter 11 cases are consolidated for procedural purposes only
and shall be jointly administered by the Court under Case No. 14-
11802, the case number for Aramid Entertainment Fund Limited.

The caption of the jointly administered cases shall read as:

  --------------------------------------------x
  In re:                                      : Chapter 11
                                              :
  Aramid Entertainment Fund Limited, et al.,  : Case No.: 14-11802
                                              :             (SHL)
          Debtors.                            :
                                              : (Jointly
                                              :  Administered)
  --------------------------------------------x

The Debtors shall maintain one consolidated docket, and one
consolidated service list to be updated and filed with the Court
and made available to the Clerk of the United States Bankruptcy
Court for the Southern District of New York.

The Debtors shall file a consolidated monthly operating report,
but shall track disbursements on a debtor-by-debtor basis and
shall list such disbursements on a debtor-by-debtor basis.  The
Debtors shall pay any fees due to the United States Trustee for
Region 2 on a debtor-by-debtor basis.

                     About Aramid Entertainment

Aramid Entertainment Fund Limited has been engaged in the business
of providing short and medium term liquidity to producers and
distributors of film, television and other media and entertainment
content by way of loans and equity investments.

On May 7, 2014, Geoffrey Varga and Jess Shakespeare of Kinetic
Partners (Cayman) Limited were appointed under Cayman law as the
joint voluntary liquidators of AEF and two affiliates.

On June 13, 2014, the JVLs authorized AEF and two affiliates to
file for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Lead
Case No. 14-11802) in Manhattan on June 13, 2014.

The Debtors have tapped Reed Smith, LLP, in New York, as counsel
and Kinetic Partners (Cayman) Limited as crisis managers.

AEF estimated at least $100 million in assets and between
$10 million to $50 million in liabililities.


ASPEN GROUP: Incurs $5.3 Million Net Loss in Fiscal 2014
--------------------------------------------------------
Aspen Group, Inc., filed with the U.S. Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$5.35 million on $3.98 million of revenues for the year ended
April 30, 2014.  The Company reported a net loss of $1.40 million
on $1.22 million of revenues for the four months ended April 30,
2013.

The Company reported a net loss of $6.01 million on $2.68 million
of revenues for the year ended Dec. 31, 2012, as compared with a
net loss of $2.13 million on $2.34 million of revenues during the
prior year.

As of April 30, 2014, Aspen Group had $3.58 million in total
assets, $5.36 million in total liabilities and a $1.78 million
total stockholders' deficiency.

Salberg & Company, P.A., did not issue a "going concern"
qualification in its report on the consolidated financial
statements for the year ended April 30, 2014.

Salberg & Company previously expressed substantial doubt about the
Company's ability to continue as a going concern in its report on
the consolidated financial statements for the year ended April 30,
2013.  The independent auditors noted that the Company has a net
loss allocable to common stockholders and net cash used in
operating activities for the four months ended April 30, 2013, of
$1,402,982 and $918,941, respectively, and has an accumulated
deficit of $12,740,086 at April 30, 2013.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.

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

                      http://is.gd/BK9CvF

                       About Aspen Group

Denver, Colo.-based Aspen Group, Inc., was founded in Colorado in
1987 as the International School of Information Management.  On
Sept. 30, 2004, it was acquired by Higher Education Management
Group, Inc., and changed its name to Aspen University Inc.  On
May 13, 2011, the Company formed in Colorado a subsidiary, Aspen
University Marketing, LLC, which is currently inactive.  On
March 13, 2012, the Company was recapitalized in a reverse merger.

Aspen's mission is to become an institution of choice for adult
learners by offering cost-effective, comprehensive, and relevant
online education.  Approximately 88 percent of the Company's
degree-seeking students (as of June 30, 2012) were enrolled in
graduate degree programs (Master or Doctorate degree program).
Since 1993, the Company has been nationally accredited by the
Distance Education and Training Council, a national accrediting
agency recognized by the U.S. Department of Education.


AUXILIUM PHARMACEUTICALS: To Get $10-Mil. in Milestone Payment
--------------------------------------------------------------
Auxilium Pharmaceuticals, Inc. announced that the Company will
receive a $10 million regulatory milestone payment from its
partner Asahi Kasei Pharma Corporation (Asahi Kasei).  The payment
is due because of the successful submission of a regulatory
application to the Japanese Pharmaceutical and Medical Device
Agency (PMDA) for XIAFLEX(R) (collagenase clostridium
histolyticum) for the treatment of Dupuytren's contracture (DC).
The review by PMDA is expected to be completed by mid-2015.
XIAFLEX is a biologic approved in the U.S., EU, Canada and
Australia for the treatment of adult DC patients with a palpable
cord and, in the U.S. for the treatment of adult men with
Peyronie's disease (PD) with a palpable plaque and curvature
deformity of at least 30 degrees at the start of therapy.

"We are pleased to see our collaboration with Asahi Kasei advance
XIAFLEX, if approved, as the potential first, effective non-
surgical treatment option available in Japan for patients
suffering from the debilitating effects of Dupuytren's
contracture," said Adrian Adams, chief executive officer and
President of Auxilium Pharmaceuticals.  "This marks another
important milestone in the continued expansion of XIAFLEX to a
global patient population."

In March 2011, Auxilium entered into a development,
commercialization and supply agreement with Asahi Kasei.  Under
the agreement, Asahi Kasei was granted the exclusive right to
commercialize XIAFLEX for the treatment of DC and PD in Japan upon
receipt of applicable regulatory approvals.  Asahi Kasei is
primarily responsible for the clinical development, regulatory and
commercialization activities for XIAFLEX in Japan.  Auxilium is
eligible to receive up to $247 million in potential payments, with
$37 million tied to development and regulatory milestones and $210
million tied to achievement of aggregate annual net sales
thresholds.  As a consequence of the $10 million milestone payment
being made on account of the successful PMDA submission, the
remaining potential payments and payments tied to regulatory
milestones are reduced from $247 million to $237 million and from
$37 million to $27 million, respectively.  In addition, Asahi
Kasei will provide quarterly royalty payments based on tiered,
double-digit percentages of the aggregate annual net sales of
XIAFLEX in Japan.

                           About Auxilium

Auxilium Pharmaceuticals, Inc., is a fully integrated specialty
biopharmaceutical company with a focus on developing and
commercializing innovative products for specialist audiences.
With a broad range of first- and second-line products across
multiple indications, Auxilium is an emerging leader in the men's
healthcare area and has strategically expanded its product
portfolio and pipeline in orthopedics, dermatology and other
therapeutic areas.  Auxilium now has a broad portfolio of 12
approved products.  Among other products in the U.S., Auxilium
markets edex(R) (alprostadil for injection), an injectable
treatment for erectile dysfunction, Osbon ErecAid(R), the leading
device for aiding erectile dysfunction, STENDRATM (avanafil), an
oral erectile dysfunction therapy, Testim(R) (testosterone gel)
for the topical treatment of hypogonadism, TESTOPEL(R)
(testosterone pellets) a long-acting implantable testosterone
replacement therapy, XIAFLEX(R) (collagenase clostridium
histolyticum or CCH) for the treatment of Peyronie's disease and
XIAFLEX for the treatment of Dupuytren's contracture.  The Company
also has programs in Phase 2 clinical development for the
treatment of Frozen Shoulder syndrome and cellulite.  To learn
more, please visit www.Auxilium.com.

As of March 31, 2014, the Company had $1.19 billion in total
assets, $985.73 million in total liabilities and $210.14 million
in total stockholders' equity.

                            *   *    *

As reported by the TCR on May 7, 2014, Moody's Investors Service
downgraded the ratings of Auxilium Pharmaceuticals, Inc.,
including the Corporate Family Rating to B3 from B2.  "The
downgrade reflects Moody's expectations that declines in Testim,
Auxilium's testosterone gel, will materially reduce EBITDA
in 2014, resulting in negative free cash flow, a weakening
liquidity profile, and extremely high debt/EBITDA," said Moody's
Senior Vice President Michael Levesque.

In the May 6, 2014, edition of the TCR, Standard & Poor's Ratings
Services lowered its corporate credit rating on Auxilium
Pharmaceuticals Inc. to 'CCC' from 'B-'.  "Our rating action on
Auxilium is predicated on our assessment of its liquidity profile
as "weak" and our expectation that the company is likely to
deplete its liquidity sources over the next 12 months," said
credit analyst Maryna Kandrukhin.


BERRY PLASTICS: Posts $15 Million Net Income in Third Quarter
-------------------------------------------------------------
Berry Plastics Group, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income attributable to the Company of $15 million on $1.29
billion of net sales for the quarterly period ended June 28, 2014,
as compared with net income attributable to the Company of $40
million on $1.22 billion of net sales for the quarterly period
ended June 29, 2013.

For the three quarterly periods ended June 28, 2014, the Company
reported net income attributable to the Company of $33 million on
$3.64 billion of net sales as compared with net income
attributable to the Company of $31 million on $3.44 billion of net
sales for the three quarterly periods ended June 29, 2013.

As of June 28,2 014, the Company had $5.41 billion in total
assets, $5.53 billion in total liabilities, $12 million in non-
controlling interest and a $130 million total stockholders'
deficit.

"In the June 2014 quarter we reported record sales for any
quarterly period in the Company's history, in the face of weak
packaged food demand," said Jon Rich, Chairman and CEO of Berry
Plastics.  "We also matched our Operating EBITDA record for any
quarterly period of $212 million."

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

                      http://goo.gl/mlSvsY

                      About Berry Plastics

Berry Plastics Corporation manufactures and markets plastic
packaging products, plastic film products, specialty adhesives and
coated products.  At Jan. 2, 2010, the Company had more than 80
production and manufacturing facilities, primarily located in the
United States.  Berry is a wholly-owned subsidiary of Berry
Plastics Group, Inc.  Berry Group is primarily owned by affiliates
of Apollo Management, L.P., and Graham Partners.  Berry, through
its wholly owned subsidiaries operates five reporting segments:
Rigid Open Top, Rigid Closed Top, Flexible Films, Tapes/Coatings
and Specialty Films.  The Company's customers are located
principally throughout the United States, without significant
concentration in any one region or with any one customer.

On Dec. 3, 2009, Berry Plastics obtained control of 100 percent of
the capital stock of Pliant upon Pliant's emergence from
reorganization pursuant to a proceeding under Chapter 11 for a
purchase price of $602.7 million.  Pliant is a leading
manufacturer of value-added films and flexible packaging for food,
personal care, medical, agricultural and industrial applications.
The acquired business is primarily operated in Berry's Specialty
Films reporting segment.

                           *     *     *

As reported by the TCR on Feb. 1, 2013, Moody's Investors Service
upgraded the corporate family rating of Berry Plastics to B2 from
B3 and the probability of default rating to B2-PD from B3-PD.  The
upgrade of the corporate family rating to B2 from B3 reflects
the improvement in pro-forma credit metrics and management's
publicly stated goal to pursue a less aggressive, more balanced
financial profile.

In November 2011, Standard & Poor's Ratings Services affirmed the
'B-' corporate credit rating on Berry and its holding company
parent, Berry Plastics Group Inc.  "The ratings on Berry reflect
the risks associated with the company's highly leveraged financial
profile and acquisition- driven growth strategy as well as its
fair business risk profile," said Standard & Poor's credit analyst
Cynthia Werneth.


BIOFUEL ENERGY: Incurs $2.7 Million Net Loss in Second Quarter
--------------------------------------------------------------
Biofuel Energy Corp. filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to the Company's common stockholders of $2.75 million
on $56,000 of revenues for the three months ended June 30, 2014,
as compared with a net loss attributable to common stockholders of
$4.12 million on $0 of revenues for the same period last year.

For the six months ended June 30, 2014, the Company reported a net
loss attributable to the Company's common stockholders of $3.46
million on $156,000 of revenues as compared with a net loss
attributable to the Company's common stockholders of $8.75 million
on $0 of revenues for the same period in 2013.

The Company's balance sheet at June 30, 2014, showed $8.84 million
in total assets, $1.40 million in total liabilities and $7.43
million in total equity.

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

                         http://is.gd/LiwTjj

                        About Biofuel Energy

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

Biofuel Energy incurred a net loss of $45.65 million in 2013, a
net loss of $46.32 million in 2012 and a net loss of $10.36
million in 2011.


BIOFUELS POWER: Plans to Build Gas-to-Liquids Plant in Texas
------------------------------------------------------------
Biofuels Power Corporation has signed a letter of intent with
ThyssenKrupp Industrial Solutions (Africa) (Pty) Ltd and Liberty
GTL, Inc., to build a small-scale gas-to-liquid demonstration
facility in Houston, Texas.  The parties have established a non-
binding target date to complete installation and commissioning of
the GTL Pilot Plant on or before Dec. 31, 2014.  The purpose of
the GTL Pilot Plant is to commercially demonstrate converting
stranded natural gas resources to synthetic crude oil.

BFLS will operate the GTL Pilot Plant for the 2-year
demonstration.  ThyssenKrupp will provide technical services and
contribute a previously operating auto-thermal reformer pilot
plant of proven design, which will be used to generate synthesis
gas feedstock for the production of synthetic crude oil.  Liberty
will provide intellectual property and operating know-how
regarding crude oil synthesis along with the relevant catalyst
supply.  The Liberty technical team is also credited for designing
the FT (Fischer Tropsch) Reactor which will convert the synthetic
gas to synthetic crude oil.  The GTL Pilot Plant will be assembled
at the Houston Clean Energy Park, which is an industrial estate
owned by BFLS.

The abundant supply and low cost of natural gas produced from
unconventional shale resources enhances the opportunity to
profitably convert natural gas to higher value liquid fuels.  The
focus of the GTL Pilot Plant will be to optimize design and
operability of small-scale gas-to-liquid facilities capable of
converting 5 - 10 million cubic feet per day of natural gas into
approximately 500 bbls per day of synthetic crude oil.  Building
on Liberty's previous engineering studies completed by
ThyssenKrupp in 2013, BFLS and Liberty are in the process of
completing engineering on a 500 bbls per day reference plant
design with the goal of deploying multiple units in North America
in the future.  This process is scheduled to be completed in the
coming weeks.

The Company believes that gas to liquids projects of this size may
be attractive to operating companies confronted with curtailing
production or, in the extreme case, ceasing production due to
capital cost barriers related to expansion of natural gas
gathering, processing and transmission infrastructure.  These
"stranded gas wells" would be released for production if the
planned GTL units could process the natural gas immediately after
completion of the well.

Eric Gadd, the Company's chief commercial officer said, "This GTL
pilot project is an important milestone toward our goal of
installing small scale GTL plants at stranded gas well sites.  The
pilot plant will prove the commercial viability of deploying
small-scale GTL plants in North America.  With an abundant natural
gas resource base, future gas-to-liquids developments like this
could fill a need in the energy industry for decades to come."

Wayne Stocks, the president of Liberty stated, "Liberty has been
through several years of extensive research and engineering
studies and considers its IP, know-how and strategic relationships
to be the key to unlock the considerable value in monetizing the
abundant gas resources in North America.  This plant will be a
first for the United States and an important step to the future of
clean fuels for the Nation. Liberty is proud to be associated with
ThyssenKrupp and Biofuels Power and is truly excited to
commercialize small-scale gas to liquids on a global scale."

                          Biofuels Power

Humble, Tex.-based Biofuels Power Corporation is a distributed
energy company that is pioneering the use of biodiesel to fuel
small electric generating facilities that are located in close
proximity to end-users.  BPC's first power plant is currently
located near Houston, Texas in the city of Oak Ridge North.

Biofuels Power reported a net loss of $606,556 on $0 of sales for
the year ended Dec. 31, 2013, as compared with net income of
$342,456 on $0 of sales in 2012.

The Company's balance sheet at March 31, 2014, showed $1.21
million in total assets, $6.24 million in total liabilities and a
$5.03 million total stockholders' deficit.

Clay Thomas, P.C., in Abilene, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered significant losses and will require
additional capital to develop its business until the Company
either (1) achieves a level of revenues adequate to generate
sufficient cash flows from operations; or (2) obtains additional
financing necessary to support its  working capital requirements.
These conditions raise substantial doubt about the Company's
ability to continue as a going concern.


BROADVIEW NETWORKS: Incurs $1.1 Million Net Loss in 2nd Quarter
---------------------------------------------------------------
Broadview Networks Holdings, Inc., filed with the U.S. Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $1.13 million on $76.41 million of
revenues for the three months ended June 30, 2014, as compared
with a net loss of $516,000 on $80.45 million of revenues for the
same period during the prior year.

For the six months ended June 30, 2014, the Company reported a net
loss of $4.20 million on $154.02 million of revenues as compared
with a net loss of $2.88 million on $161.25 million of revenues
for the same period last year.

As of June 30, 2014, the Company had $205.34 million in total
assets, $201.33 million in total liabilities and $4 million in
total stockholders' equity.

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

                         http://goo.gl/X6lvnH

                        About Broadview Networks

Rye Brook, N.Y.-based Broadview Networks Holdings, Inc., is a
communications and IT solutions provider to small and medium sized
business ("SMB") and large business, or enterprise, customers
nationwide, with a historical focus on markets across 10 states
throughout the Northeast and Mid-Atlantic United States, including
the major metropolitan markets of New York, Boston, Philadelphia,
Baltimore and Washington, D.C.

Broadview Networks reported a net loss of $8.48 million in 2013, a
net loss of $35.27 million in 2012 and a net loss of $11.9 million
for 2011.

                           *     *     *

In the July 23, 2012, edition of the Troubled Company Reporter,
Moody's Investors Service downgraded Broadview Networks Holdings,
Inc. Corporate Family Rating (CFR) to Caa3 from Caa2 and the
Probability of Default Rating (PDR) to Ca from Caa3 in response to
the company's announcement that it has entered into a
restructuring support agreement with holders of roughly 70% of its
preferred stock and roughly 66-2/3% of its Senior Secured Notes.
The company is expected to file a pre-packaged Chapter 11 Plan of
Reorganization or complete an out of court exchange offer.

As reported by the TCR on July 25, 2012, Standard & Poor's Ratings
Services lowered its corporate credit rating on Broadview to 'D'
from 'CC'.  "This action follows the company's announced extension
on its revolving credit facility.  We expect to lower the issue-
level rating on the notes to 'D' once the company files for
bankruptcy, or if it misses the Sept. 1, 2012 maturity payment on
the notes," S&P said.


BUCCANEER ENERGY: Has Aug. 27 Plan Confirmation Hearing
-------------------------------------------------------
Judge David Jones of the U.S. Bankruptcy Court for the Southern
District of Texas, Victoria Division, on July 25, 2014,
conditionally approved the disclosure statement explaining
Buccaneer Resources, LLC, et al.'s First Amended Joint Chapter 11
Plan of Reorganization.

The Disclosure Statement is conditionally approved as containing
adequate information pursuant to Section 1125 of the Bankruptcy
Code without prejudice to any party-in-interest, including the
Official Committee of Unsecured Creditors, filing an objection to
the Disclosure Statement no later than the Aug. 22, 2014.
Completed original ballots to accept or reject the Plan must also
be received on the same day.

The Official Committee of Unsecured Creditors; AIMM Technologies,
Inc., and All American Oilfield Associates, LLC, prepetition
service providers to the Debtors; Cook Inlet Region, Inc.; have
objected to the Disclosure Statement, complaining that the outline
does not contain adequate information.  The Creditors' Committee
specifically complained on the Disclosure Statement's lack of
adequate information with respect to the potential for
distributions under the Plan.  AIMM and AAOA specifically complain
that the Disclosure Statement inadequately describes a liquidating
Plan under which certain assets will be sold and the Disclosure
Statement contains virtually no description of the assets that the
Debtors intend to sell.

A final hearing on approval of the Disclosure Statement will be
combined with the confirmation hearing to be held on the Plan and
the combined hearing is scheduled for Aug. 27, at 1:00 p.m.
(Central Time).  The Debtors sought conditional approval of the
Disclosure Statement to expedite the solicitation procedures by
reducing the required notice time for parties-in-interest under
Rules 2002(b) and (d) and 3017(a) of the Federal Rules of
Bankruptcy Procedure.

The Plan is conditioned on, and will be consummated upon, the
closing of the sale of the Kenai Loop Assets.  A Liquidating Trust
will be created to which all of the assets of the Debtors
remaining after the sale will be transferred.  Under the Plan,
holders of general unsecured claims and subordinated claims are
impaired.  Interest holders are not expected to receive or retain
anything under the Plan.

A full-text copy of the First Amended Disclosure Statement dated
July 25 is available at http://is.gd/ulzUa9

A full-text copy of the Disclosure Statement dated June 27 is
available at http://is.gd/Yu3J4g

The Creditors' Committee is represented by:

         Shari L. Heyen, Esq.
         David R. Eastlake, Esq.
         GREENBERG TRAURIG, LLP
         1000 Louisiana, Suite 1700
         Houston, TX 77002
         Email: HeyenS@gtlaw.com
                EastlakeD@gtlaw.com

            -- and --

         David B. Kurzweil, Esq.
         Lee B. Hart, Esq.
         GREENBERG TRAURIG, LLP
         Terminus 200
         3333 Piedmont Road, NE, Suite 2500
         Atlanta, GA 30327
         Email: KurzweilD@gtlaw.com
                HartLe@gtlaw.com

AIMM and AAOA is represented by:

         Philip G. Eisenberg, Esq.
         W. Steven Bryant, Esq.
         Brooke B. Chadeayne, Esq.
         LOCKE LORD LLP
         600 Travis Street, Suite 2800
         Houston, TX 77002
         Tel: (713) 226-1489
         Fax: (713) 229-2536
         Email: peisenberg@lockelord.com
                sbryant@lockelord.com
                bchadeayne@lockelord.com

CIRI is represented by:

         Robert L. Paddock, Esq.
         333 Clay, Suite 3300
         Houston, TX 77002
         Tel: (713) 654-8111
         Fax: (713) 654-1871
         Email: Robert.Paddock@tklaw.com

            -- and --

         Ira L. Herman, Esq.
         Jennifer A. Christian, Esq.
         THOMPSON & KNIGHT LLP
         900 Third Avenue, 20th Floor
         New York, NY 10022
         Tel: (212) 751-3001
         Fax: (212) 751-3113
         Email: Ira.Herman@tklaw.com
                jennifer.christian@tklaw.com

                      About Buccaneer Energy

Buccaneer Resources, LLC, and eight affiliates, including
Buccaneer Energy Ltd. sought Chapter 11 bankruptcy protection in
Victoria, Texas (Bankr. S.D. Tex. Lead Case No. 14-60041) on
May 31, 2014.  Buccaneer listed assets of up to $50,000 and
liabilities between $50 million and $100 million in its petition.

Founded in 2006, Buccaneer Energy, Ltd. is a publicly traded
independent oil and gas company listed on the Australian
Securities Exchange under the symbol "BCC".  Although BCC is an
Australian listed entity, the company operates exclusively through
its eight U.S. subsidiary debtors, each of which are headquartered
in the U.S. and which maintain offices in Houston and Dallas,
Texas, and Kenai and Anchorage, Alaska.

The Debtors' primary business is the exploration for and
production of oil and natural gas in North America.  Operations
have historically focused on both onshore and offshore
opportunities in the Cook Inlet of Alaska as well as the
development of offshore projects in the Gulf of Mexico and onshore
oil opportunities in Texas and Louisiana.

CEO Curtis Burton was terminated in May 2014.  Manning the
Debtors' operations is Conway MacKenzie senior managing director
John T. Young, who was appointed chief restructuring officer in
March 2014.

The bankruptcy cases are assigned to Judge David R Jones.  The
Debtors have sought and obtained an order authorizing joint
administration of their Chapter 11 cases.

The Debtors have tapped Robert Andrew Black, Esq., Jason Lee
Boland, Esq., Robert Bernard Bruner, and William R Greendyke,
Esq., at Fulbright Jaworski LLP as counsel.  Norton Rose Fulbright
Australia will render legal services related to cross-border
insolvency and general corporate and litigation matters to
Buccaneer Energy Ltd.  Epiq Systems is the claims and notice
agent.


BUDD COMPANY: Court Extends Exclusive Period to August 29
---------------------------------------------------------
The Bankruptcy Court extends The Budd Company, Inc.'s exclusive
period to file a Chapter 11 plan to August 29, 2014, and exclusive
period to solicit acceptances of that plan to October 28, 2014.

Budd Company originally sought a 90-day extension but, upon the
objection of the International Union, United Automobile, Aerospace
and Agricultural Implement Workers of America, the Court grants
only a limited extension until the conclusion of a hearing on an
affiliate settlement.

After the conclusion of the affiliate settlement hearing, the
Court will again reconsider the request to extend exclusivity. The
exclusivity request is continued for hearing on August 22, 2014 at
1:30 p.m.

On March 31, 2014, Budd Company filed a request to approve an
affiliate settlement agreement pursuant to Section 105 of the
Bankruptcy Code and Rule 9019 of the Federal Rules of Bankruptcy
Procedure. The affiliate settlement request seeks approval of a
settlement agreement between Budd Company and its corporate
insiders. The hearing on the affiliate settlement request is
scheduled to commence on August 28, 2014.

UAW serves as the representative of Budd Company's UAW retirees
under Section 1114 of the Bankruptcy Code.

Retiree benefit and plan negotiations will be on hold until the
settlement agreement has been considered by the Court.

The Budd Company is represented by:

     Jeff J. Marwil, Esq.
     Jeremy T. Stillings, Esq.
     Brandon W. Levitan
     Proskauer Rose LLP
     70 W. Madison St.
     Chicago, IL 60602-4342
     Telephone: (312) 962-3550
     Facsimile: (312) 962-3551

UAW is represented by:

     Lawrence B. Friedman, Esq.
     Lindsee P. Granfield, Esq.
     Mark A. Lightner, Esq.
     CLEARY GOTTLIEB STEEN & HAMILTON LLP
     One Liberty Plaza
     New York, NY 10006
     Telephone: (212) 225-2000
     Facsimile: (212) 225-3999
     E-mail: lfriedman@cgsh.com

          - and -

     Scott R. Clar (06183741)
     Crane, Heyman, Simon,Welch & Clar
     135 South LaSalle Street, Suite 3705
     Chicago, IL 60603
     Telephone: (312) 641-6777
     Facsimile: (312) 641-7114

                     About The Budd Company

The Budd Company, Inc., a former supplier to the automotive
industry, filed for chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 14-11873) on March 31, 2014, with a deal to settle
potential claims against its parent, ThyssenKrupp AG.

The company -- which ceased manufacturing operations in 2006 and
does not have any current employees, facilities or customers --
has obligations consisting largely of medical and other benefits
to approximately 10,000 former employees.

Liabilities amount to approximately $1 billion with assets of
approximately $400 million.  Most of the debt consists largely of
medical and other benefits to approximately 10,000 former
employees.

The Debtor disclosed $387,555,681 in assets and $1,107,350,034 in
liabilities as of the Chapter 11 filing.

The Hon. Jack B. Schmetterer oversees the case.  The Debtor has
tapped Proskauer Rose LLP as Chapter 11 counsel, Dickinson Wright
PLLC as special counsel, Epiq Bankruptcy Solutions, LLC as
noticing, claims and balloting agent, and Conway MacKenzie
Management Services, LLC's Charles M. Moore as CRO.

The U.S. Trustee appointed five individuals to serve on the
Committee of Executive & Administrative Retirees.  The Segal
Company (Eastern States), Inc. serves as the Committee's actuarial
consultant.  The Committee retained Solic Capital Advisors, LLC as
its financial advisor.

Reed Heiligman, Esq., at FrankGecker LLP, in Chicago, Illinois,
represents the ad hoc committee of asbestos personal injury
claimants.


BUDD COMPANY: Court Appoints Diana Adams as Fee Examiner
--------------------------------------------------------
The Bankruptcy Court, upon recommendation of the U.S. Trustee,
appoints Diana G. Adams as independent fee examiner.

As independent fee examiner, Ms. Adams will review and assess all
applications filed by retained professionals, and the fees and
reimbursement of expenses for which allowance is sought, for
compliance with the Bankruptcy Code, Federal Rules of Bankruptcy
Procedure, and applicable Court orders.

Ms. Adams is further authorized to:

   (a) File a report or assessment on the public docket of
       regarding any application by a retained professional for
       the Court's consideration of the application and may appear
       and answer questions with respect to the report;

   (b) Communicate her concerns regarding any application to the
       retained professionals to whom the application pertains,
       and request further information as appropriate;

   (c) Establish procedures for the resolution of disputes with
       retained professionals;

   (d) Recommend procedures to facilitate the preparation and
       review of applications;

   (e) Appear and be heard on any matter before the Court
       pertaining to the independent fee examiner's review of the
       applications; and

   (h) Retain, subject to Court approval, professionals to
       represent or assist the independent fee examiner in
       connection with any of the foregoing.

Budd Company, its retirees' representatives, the U.S. Trustee, and
all retained professionals will cooperate with the independent fee
examiner in the discharge of her duties and will promptly respond
to any reasonable request for information or communications.

Attorneys for Patrick S. Layng, U.S. Trustee, are:

     Kathryn Gleason
     Roman L. Sukley
     Office of the U.S. Trustee
     219 S. Dearborn St., Room 873
     Chicago, IL 60604

                     About The Budd Company

The Budd Company, Inc., a former supplier to the automotive
industry, filed for chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 14-11873) on March 31, 2014, with a deal to settle
potential claims against its parent, ThyssenKrupp AG.

The company -- which ceased manufacturing operations in 2006 and
does not have any current employees, facilities or customers --
has obligations consisting largely of medical and other benefits
to approximately 10,000 former employees.

Liabilities amount to approximately $1 billion with assets of
approximately $400 million.  Most of the debt consists largely of
medical and other benefits to approximately 10,000 former
employees.

The Debtor disclosed $387,555,681 in assets and $1,107,350,034 in
liabilities as of the Chapter 11 filing.

The Hon. Jack B. Schmetterer oversees the case.  The Debtor has
tapped Proskauer Rose LLP as Chapter 11 counsel, Dickinson Wright
PLLC as special counsel, Epiq Bankruptcy Solutions, LLC as
noticing, claims and balloting agent, and Conway MacKenzie
Management Services, LLC's Charles M. Moore as CRO.

The U.S. Trustee appointed five individuals to serve on the
Committee of Executive & Administrative Retirees.  The Segal
Company (Eastern States), Inc. serves as the Committee's actuarial
consultant.  The Committee retained Solic Capital Advisors, LLC as
its financial advisor.

Reed Heiligman, Esq., at FrankGecker LLP, in Chicago, Illinois,
represents the ad hoc committee of asbestos personal injury
claimants.


BUDD COMPANY: Claimants Defer Filing Asbestos Claim Form
--------------------------------------------------------
The Budd Company, Inc., sought to require some, but not all of its
creditors to file proofs of claim by October 15, 2014.

Reed Heiligman, Esq., at FrankGecker LLP, in Chicago, Illinois,
counsel to an ad hoc committee of asbestos personal injury
claimants, tells the Bankruptcy Court that without filing a plan
or giving any other indication of how it intends to treats its
asbestos victims, Budd Company sought to approve a 22-page proof
of claim form to be completed only by the unfortunate victims of
asbestos.

Mr. Heiligman contends that the asbestos claim form request is
premature, as appointment of an official committee of asbestos
personal injury claimants has been ordered by the Court, but has
not yet occurred. The official asbestos creditors committee, when
formed, should be given an opportunity to respond to the
overreach, notes Mr. Heiligman.

Accordingly, the ad hoc committee of asbestos personal injury
claimants asks the Court that the asbestos claim form request
should be continued for status with a briefing schedule to be
determined after the formation of the official asbestos creditors
committee.

Mr. Heiligman points out that deficiencies in the asbestos claim
form request could potentially be addressed by an official
committee, including that:

   (a) The proposed asbestos proof of claim does not "conform
       substantially" with Official Form No. 10 as Rule 3001(a) of
       the Federal Rules of Bankruptcy Procedure requires;

   (b) The proposed 22-page asbestos proof of claim form seeks
       information far beyond the requirements for a prima facie
       valid proof of claim under the Bankruptcy Rules; and

   (c) Budd Company refuses to give its asbestos victims the same
       consideration as its retirees.

The ad hoc committee is represented by:

     Frances Gecker, Esq.
     Joseph D. Frank, Esq.
     Reed Heiligman, Esq.
     FRANKGECKER LLP
     325 North LaSalle Street, Suite 625
     Chicago, IL 60654
     Telephone: (312) 276-1400
     Facsimile: (312) 276-0035
     E-mail: fgecker@fgllp.com
             jfrank@fgllp.com
             rheiligman@fgllp.com

                     About The Budd Company

The Budd Company, Inc., a former supplier to the automotive
industry, filed for chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 14-11873) on March 31, 2014, with a deal to settle
potential claims against its parent, ThyssenKrupp AG.

The company -- which ceased manufacturing operations in 2006 and
does not have any current employees, facilities or customers --
has obligations consisting largely of medical and other benefits
to approximately 10,000 former employees.

Liabilities amount to approximately $1 billion with assets of
approximately $400 million.  Most of the debt consists largely of
medical and other benefits to approximately 10,000 former
employees.

The Debtor disclosed $387,555,681 in assets and $1,107,350,034 in
liabilities as of the Chapter 11 filing.

The Hon. Jack B. Schmetterer oversees the case.  The Debtor has
tapped Proskauer Rose LLP as Chapter 11 counsel, Dickinson Wright
PLLC as special counsel, Epiq Bankruptcy Solutions, LLC as
noticing, claims and balloting agent, and Conway MacKenzie
Management Services, LLC's Charles M. Moore as CRO.

The U.S. Trustee appointed five individuals to serve on the
Committee of Executive & Administrative Retirees.  The Segal
Company (Eastern States), Inc. serves as the Committee's actuarial
consultant.  The Committee retained Solic Capital Advisors, LLC as
its financial advisor.

Reed Heiligman, Esq., at FrankGecker LLP, in Chicago, Illinois,
represents the ad hoc committee of asbestos personal injury
claimants.


BUILDERS FIRSTSOURCE: Files Form 10-Q, Earns $10.6-Mil. in Q2
-------------------------------------------------------------
Builders Firstsource, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $10.60 million on $426.54 million of sales for the
three months ended June 30, 2014, as compared with a net loss of
$48.20 million on $398.14 million of sales for the same period in
2013.

For the six months ended June 30, 2014, the Company reported net
income of $7.22 million on $772.45 million of sales as compared
with a net loss of $60.01 million on $717.85 million of sales for
the same period last year.

The Company's balance sheet at June 30, 2014, showed $546.47
million in total assets, $521.92 million in total liabilities and
$24.55 million in total stockholders' equity.

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

                         http://goo.gl/Gml95J

                       About Builders FirstSource

Headquartered in Dallas, Texas, Builders FirstSource Inc. --
http://www.bldr.com/-- supplies and manufactures building
products for residential new construction.  The Company operates
in nine states, principally in the southern and eastern United
States, and has 55 distribution centers and 51 manufacturing
facilities, many of which are located on the same premises as its
distribution facilities.

Builders Firstsource reported a net loss of $42.69 million on
$1.48 billion of sales for the year ended Dec. 31, 2013, as
compared with a net loss of $56.85 million on $1.07 billion of
sales in 2012.  The Company incurred a $64.99 million net loss in
2011.

                           *     *     *

As reported by the TCR on May 15, 2013, Standard & Poor's Ratings
Services Inc. said it raised its corporate credit rating on
Dallas-based Builders FirstSource to 'B' from 'CCC'.  "The upgrade
acknowledges U.S.-based building materials manufacturer and
distributor Builders FirstSource Inc.'s 'strong' liquidity based
on the company's proposed recapitalization," said Standard &
Poor's credit analyst James Fielding.

In the May 13, 2014, edition of the TCR, Moody's Investors Service
upgraded Builders FirstSource, Inc.'s ("BLDR") Corporate Family
Rating to B3 from Caa1.  The upgrade reflects Moody's expectation
that BLDR's operating performance will continue to benefit from
improved housing construction, repair and remodeling.


BRAUN DEVELOPMENT: Case Summary & 15 Unsecured Creditors
--------------------------------------------------------
Debtor: Braun Development Group, Inc.
           dba Artwear
        13621 S. Main Street
        Los Angeles, CA 90061

Case No.: 14-24711

Chapter 11 Petition Date: July 31, 2014

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

Judge: Hon. Ernest M. Robles

Debtor's Counsel: M Jonathan Hayes, Esq.
                  SIMON RESNIK HAYES LLP
                  15233 Ventura Blvd Ste 250
                  Sherman Oaks, CA 91403
                  Tel: 818-783-6251
                  Fax: 818-783-6253
                  Email: jhayes@srhlawfirm.com

Estimated Assets: $1 million to $10 million

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

The petition was signed by Lynn Braun, president.

A list of the Debtor's 15 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb14-24711.pdf


BWAY HOLDING: S&P Lowers CCR to 'B-' on Dividend Recap
------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Atlanta-based BWAY Holding Co. and all related rated
entities, including BOE Intermediate Holding Corp., BWAY Parent
Co. Inc., and BWAY Corp. (collectively, BWAY), to 'B-' from 'B'.
The outlook is stable.

At the same time, S&P assigned a 'B-' issue-level rating to the
company's proposed $1.1 billion senior secured term loan.  The
recovery rating is '3', indicating S&P's expectation of meaningful
recovery (50% to 70%) in the event of payment default.

S&P also assigned a 'CCC' issue-level rating to the company's
proposed $770 million senior unsecured notes due 2021.  The
recovery rating is '6', indicating S&P's expectation of negligible
recovery (0% to 10%) in the event of payment default.

As a part of this transaction, S&P is also assigning a 'B+' issue-
level rating to the company's existing $200 million asset-backed
lending (ABL) facility.  The recovery rating is '1', indicating
S&P's expectation of very high recovery (90% to 100%) in the event
of payment default

BWAY Holding Co. is issuing a $1.1 billion senior secured term
loan and $770 million of senior unsecured notes.  The company will
use the $1.87 billion gross proceeds primarily to repay its
existing term loan, senior notes, and pay-in-kind (PIK) notes and
to pay a $200 million dividend to its shareholders.

"The downgrade to 'B-' reflects increased leverage and a
deterioration in credit measures after the proposed transaction,"
said Standard & Poor's credit analyst Henry Fukuchi.  "We expect
leverage to rise to more than 8x with incremental debt of about
$310 million after the proposed transaction.  Although we expect
better operating trends, we think leverage will remain elevated
above 7x for the next few quarters.  A combination of improving
housing markets, various cost-reduction efforts, and manufacturing
efficiencies should support improving operating trends and modest
deleveraging within the next year".

S&P characterizes BWAY's business risk profile as "fair" and its
financial risk profile as "highly leveraged," which results in an
anchor of 'b'.  S&P applies a negative comparable rating analysis
modifier, resulting in a lower corporate credit rating (to 'B-')
due to the elevated level of leverage compared to its peers.

The ratings on BWAY reflect exposure to volatile resin costs, and
key industry risks, such as exposure to housing and industrial end
markets.  The company's good profitability and cash flow, market
share gains from past acquisitions, benefits from plant
rationalizations, favorably structured contracts, and cost-
reduction efforts partly offset these weaknesses.  The ratings
also incorporate the aggressive financial policies of the
company's owners, which S&P believes will continue to keep the
financial risk profile highly leveraged.

The outlook is stable.  S&P believes BWAY's predictable
profitability, sustainable synergies achieved from the Ropak
acquisition, moderate free cash flow, and adequate liquidity
should support the current ratings.  The stable outlook also
factors in S&P's expectation that very aggressive financial
policies related to the current owners will keep leverage elevated
despite some modest improvement in operating trends.  S&P's
expectation at the current rating includes adjusted debt to EBITDA
in the range of 7.0x to 8.5x and sufficient availability under its
revolver supporting adequate liquidity.

"We could consider a modest upgrade if the company can improve its
adjusted debt to EBITDA ratio to below 7.0x and sustain it at that
level as well as approach future growth spending and shareholder
distributions in a credit-supportive manner.  This could happen if
EBITDA margins increase about 100 basis points and revenues grow
by more than five percentage points from our expectations.  The
company could achieve this improvement as a result of efficiency
initiatives, pricing gains, and the easing raw material cost
pressures, along with a favorable recovery in the housing market.
For an upgrade, we would also need evidence that future financial
policy decisions will support an improved financial risk profile,"
S&P noted.

S&P could lower the ratings if operating performance deteriorates
significantly from the current levels such that free cash
generation becomes negative and the company fails to meet its
ongoing operation needs.  A deterioration in operating performance
could result from sharp increases in raw material costs or weaker
demand in key end markets.  In such a scenario, EBITDA margins
could decrease by more than 200 basis points or revenue could
decline by more than 10% from S&P's expectations.  A downgrade is
also possible if liquidity deteriorates or leverage increases to
the high-8x area with no clear prospects of improvement.


CAESARS ENTERTAINMENT: Fitch Raises Secured Debt Rating to CCC+
---------------------------------------------------------------
Fitch Ratings has upgraded Caesars Entertainment Operating
Company. Inc.'s (CEOC) senior secured credit facility to
'CCC+/RR1' from 'CCC/RR2' following the finalization of the new
guarantee and pledge agreement.  The agreement caps the amount of
debt that Caesars Entertainment Corp (CEC; Caesars, parent) may
guarantee at $8.35 billion.

In addition, Fitch has also affirmed CEOC's first-lien notes at
'CCC/RR2', and the more junior tranches at 'C/RR6', although the
recovery rating (RR) on the junior tranches has been revised to
'RR6' from 'RR5'.  The Issuer Default Ratings (IDRs) for CEOC and
CEC were affirmed at 'CC'.

KEY RATING DRIVERS

The upgrade of the senior secured credit facility reflects CEOC's
new guarantee and pledge agreement, which caps the amount of debt
that CEC may guarantee at $8.35 billion relative to approximately
$5.3 billion of term loans and $19 billion of total debt
outstanding at CEOC.  The new agreement, plus the reduced risk
that CEC may attempt to release the guarantee from the credit
facility, strengthens the credit facility's recovery prospects
with respect to the guarantee.  Fitch estimates that in an event
CEOC files for bankruptcy the credit facility lenders' recovery
will exceed 91%.

The 91% or greater recovery estimate takes into account roughly
70% recovery derived from the CEOC collateral alone and 20% or
greater recovery from the parent guarantee.  This does not assume
any paydown of the term loans using the $2.8 billion of excess
cash on hand at CEOC including the $1.8 billion in proceeds from
the recent asset sale to Caesars Growth Partners (CGP).  CEOC's
newly amended credit agreement exempts the CGP asset sale from the
paydown requirements but CEOC's secured note indentures still
require CEOC to either prepay first-lien debt or reinvest the
proceeds within 15 months.

The affirmation of the first-lien notes at 'CCC/RR2' reflects
Fitch's recovery estimate for this debt at roughly 70%, which is
borderline 'RR2' (71% - 90% recovery) and RR3 (51% - 70%) without
the guarantee.  The prospect of the first-lien notes receiving a
portion of the parent guarantee or CEOC prepaying debt using the
CGP asset sale proceeds increases the cushion for the first-lien
notes within the RR2 band.

The guarantee and pledge agreement permits CEC to grant the
guarantee on up to $3 billion of incremental debt in addition to
the $5.3 billion of the term loans outstanding.  Fitch believes
Caesars may use this capacity as an incentive when negotiating
restructuring terms, seeking consents for further amendments or
issuing additional first-lien debt (new credit agreement has a
$500 million accordion option).  The ambiguous nature of the
indenture provisions CEC relied on to release the guarantee on
CEOC's notes may strengthen the noteholders' leverage when
negotiating restructuring or amendment terms or attempting to
extract more meaningful concessions in an event of an in-court
restructuring.  There is also a possibility of a court reversing
the guarantee release although putting a probability on this
scenario is difficult.

The downward revision of the RRs on the more junior notes reflects
increased uncertainty that these tranches will be able to recover
11% or more (RR5 range is 11% - 30%) based on the parent guarantee
alone in a bankruptcy scenario now that the B7 term loan is closed
and the new credit agreement and the guarantee and pledge
agreement are finalized.  Fitch estimates 0% recovery for these
tranches based on the CEOC collateral alone.  These tranches could
still realize some recovery based on the guarantee consideration
discussed above, but likely no higher than around 20%, which would
equate to a weak RR5 recovery rating.

PARENT GUARANTEE RELEASE

Caesars released the CEOC notes' parent guarantee by selling 5% of
CEOC to third-party investors.  Caesars offered the guarantee to
the B7 term loan lenders and kept the guarantee for the existing
term loan lenders that agreed to amend the credit agreement.  The
guarantee release is pursuant to the CEOC's note indentures'
provision that states that the guarantee will be released if CEOC
ceases to be a wholly-owned subsidiary of Caesars.

Fitch believes that the language that Caesars relied on for the
guarantee release is ambiguous and can potentially be challenged
by the noteholders (second-lien noteholders' notice of default
cited the' release as of one of the default triggers).  With
respect to the pre-LBO notes, 'wholly-owned subsidiary' in the
relevant provision directs the readers to SEC's Regulation S-X (17
CFR part 210) definitions, which defines the term as 'subsidiary
substantially all of whose outstanding voting shares are owned by
its parent'.  It is unclear if selling 5% of CEOC's stock meets
the 'substantially all' threshold.  With respect to the post-LBO
notes, the provision that allows the release of the guarantee upon
CEOC ceasing to be wholly-owned is adjoined to two other
provisions that Caesars did not meet with the word 'and'.

CEC's market capitalization of around $2.5 billion is a good proxy
for the value of the guarantee.  Fitch believes that Caesars
Entertainment Resort Properties (CERP) contributes roughly $700
million of the value and CGP $1.8 billion.

CEOC DEFAULT IS LIKELY NEAR

Fitch believes that CEOC will attempt to execute a debt-for-equity
exchange with the second-lien holders in the near term.  According
to a Bloomberg article Caesars hired Kirkland & Ellis to help in
its restructuring talks.

The second-lien's elevated price relative to recovery prospects is
hampering CEOC's exchange efforts.  At mid-30s the price is likely
too high to enable CEOC to execute a meaningful exchange without
utilizing CEC's equity in healthier subsidiaries.

Since the sale of 5% of CEOC's equity to unaffiliated investors in
May CEC may look to offer equity in CEOC to the second-lien
holders.  CEOC is about 12x leveraged through the first-lien and
therefore equity beyond the first lien is minimal.  At current
prices CEOC's second-lien notes are valued at $2.1 billion.
Second-lien prices could be elevated due to the second-lien
holders' positions in 1-year CEOC credit default swaps, which are
trading at above 5,000 basis points spread compared to below 2,000
basis points in early May.

In order to execute an exchange CEOC would have to find a way to
trigger the CDS without cross-defaulting the entire capital
structure ($150 million is the cross-default threshold in most
debt documents).  Alternatively, CEOC would have to sweeten the
exchange by prepaying a portion of second-liens with cash on hand
(may require consent from the first-lien holders) and/or offering
equity in the parent.  Assuming CEC is unable to execute an
exchange CEOC may elect to go the bankruptcy route, which could
potentially be less dilutive relative to an exchange now that the
guarantee has been released on the notes, if the guarantee release
is upheld.

Assuming CEOC can execute an exchange Fitch believes that CEOC has
enough levers to get through 2016 and possibly 2017.  Pro forma
for a full exchange, including the 12.5% notes, CEOC will save
$550 million in annual interest expense and will have roughly $2.8
billion in excess cash (cash net of cage cash and pro forma for
the CGP sale as of March 31, 2014).  Annual FCF burn will be
reduced to roughly $400 million - $500 million or possibly lower
in event operating conditions improve.  Maturities below the
first-lien include $1.1 billion of unsecured notes in 2016 and
$539 million of unsecured notes in 2017.  CEOC can potentially
refinance the $2.1 billion in 11.25% first-lien notes maturing
2017 using the available parent guarantee capacity as an
incentive.

RATING SENSITIVITIES

An upgrade of CEOC's IDR is unlikely at this point without a
meaningful reduction in debt burden, which in Fitch's view, cannot
be accomplished without some sort of a restructuring transaction.
A downgrade to 'C' would signify that Fitch believes that a
default at CEOC is imminent.  This could potentially follow
solicitations for a debt-for-equity exchange, which if executed
would result in a downgrade to 'RD'.  Shortly after the exchange
is completed, the IDR will be re-visited and raised to a level
consistent with the pro forma capital structure.  A bankruptcy
filing would result in a downgrade to 'D'.

Fitch takes the following rating actions:

Caesars Entertainment Corp.

   -- Long-term IDR affirmed at 'CC'.

Caesars Entertainment Operating Co.

   -- Long-term IDR affirmed at 'CC';
   -- Senior secured first-lien revolving credit facility and term
      loans upgraded to 'CCC+/RR1' from 'CCC/RR2';
   -- Senior secured first-lien notes affirmed at 'CCC/RR2';
   -- Senior secured second-lien notes affirmed at 'C/RR6'; RR
      revised to RR6 from RR5;
   -- Senior unsecured notes with subsidiary guarantees affirmed
      at 'C/RR6'; RR revised to RR6 from RR5;
   -- Senior unsecured notes without subsidiary guarantees
      affirmed at 'C/RR6'; RR revised to RR6 from RR5.

Fitch currently rates the other CEC entities, which includes:

Caesars Entertainment Resort Properties, LLC

   -- IDR 'B-'; Outlook Stable;
   -- Senior secured first-lien credit facility 'B+/RR2';
   -- First-lien notes 'B+/RR2';
   -- Second-lien notes 'CCC/RR6'.

Caesars Growth Properties Holdings, LLC

   -- IDR 'B-'; Outlook Stable;
   -- Senior secured first-lien credit facility 'BB-/RR1';
   -- Second-lien notes 'B-/RR4'.

Corner Investment PropCo, LLC

   -- Long-term IDR 'CCC';
   -- Senior secured credit facility 'B-/RR2'.

Chester Downs and Marina LLC (and Chester Downs Finance Corp as
co-issuer)

   -- Long-term IDR 'B-'; Outlook Negative;
   -- Senior secured notes 'BB-/RR1'.


CAESARS ENTERTAINMENT: Bank Debt Trades at 7% Off
-------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc. is a borrower traded in the secondary market at
93.00 cents-on-the-dollar during the week ended Friday, Aug. 1,
2014, according to data compiled by LSTA/Thomson Reuters MTM
Pricing and reported in The Wall Street Journal.  This represents
an decrease of 0.88 percentage points from the previous week, The
Journal relates.  Caesars Entertainment Inc. pays 525 basis points
above LIBOR to borrow under the facility.  The bank loan matures
on Jan. 1, 2018, and carries Moody's Caa2 rating and Standard &
Poor's CCC- rating.  The loan is one of the biggest gainers and
losers among 205 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Friday.


CDW LLC: S&P Assigns 'B' Rating to $600MM Sr. Unsecured Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' issue-level
rating and '6' recovery rating to value-added IT solutions
provider CDW LLC's proposed $600 million senior unsecured notes
due 2022.  The '6' recovery rating indicates S&P's expectation for
negligible (0%-10%) recovery in the event of a payment default.

At the same time, S&P revised the recovery rating on CDW's senior
secured debt to '2', indicating its expectation for substantial
(70% to 90%) recovery in the event of a payment default, from '3'.
S&P subsequently raised the issue-level rating on this debt to
'BB' from 'BB-', in accordance with its notching criteria.

S&P expects the company to use proceeds from the proposed
unsecured notes to redeem the balance of the 8% senior secured
notes and to redeem a portion of the outstanding 8.5% senior
unsecured notes.

S&P's 'BB-' corporate credit rating on CDW remains unchanged.  The
outlook is positive.

RATINGS LIST

CDW LLC

Corporate Credit Rating          BB-/Positive/--

New Rating

CDW LLC

Senior Unsecured
  $600M notes due 2022            B
   Recovery Rating                6

Recovery Ratings Revised; Ratings Raised

                                  To                  From
CDW LLC
Senior Secured                   BB                  BB-
   Recovery Rating                2                   3


CHARTER COMMUNICATIONS: S&P Rates New $8.9BB Secured Loans 'BB+'
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned Charter Communications
Operating LLC's (CCO) proposed $8.9 billion senior secured credit
facilities an issue-level rating of 'BB+', with a recovery rating
of '1'.  The '1' recovery rating indicates S&P's expectation for
very high (90%-100%) recovery in the event of payment default.
The facilities will consist of an incremental $500 million
revolver due 2018, a $1 billion term loan A-2 due 2020, a $3.2
billion term loan G due 2021, and a $4.2 billion term loan H due
2022.

At the same time, S&P lowered the issue-level rating on CCO
Holdings LLC's senior unsecured debt to 'B' from 'BB-' and revised
the recovery rating to '6' from '3'.  The '6' recovery rating
indicates S&P's expectation for negligible (0%-10%) recovery in
the event of payment default.  The lower issue-level rating
reflects the increase in secured debt, which dilutes recovery
prospects for unsecured creditors.  All borrowers are subsidiaries
of Stamford, Conn.-based cable provider Charter Communications
Inc. (Charter).

The company will use proceeds from the term loans to fund the
$8.1 billion acquisition of about 1.5 million subscribers from
Comcast following its purchase of Time Warner Cable, and to pay
about $300 million of related fees and expenses.  Charter will net
about 1.4 million video customers following the swap of certain
properties with Comcast.

"Our corporate credit rating on the company is 'BB-'.  The outlook
is stable.  Debt leverage will increase only modestly and the
transaction, along with the asset swap and expected stake in
Spinco, will offer some operational and scale benefits.  Pro forma
for the acquisition, we expect leverage of about 5x, only a small
increase from the 4.7x metric we anticipated for 2014, and still
supportive, albeit at the high end, of our "aggressive" financial
risk assessment.  We expect Charter to benefit from increased
scale economies from the approximate 30% increase in video
customers. In addition to the acquisition, the company is swapping
about 1.5 million subscribers with Comcast, which should improve
Charter's operational clustering, penetration levels, and regional
market presence.  Despite these benefits, we are not revising our
business risk profile on the company, which we view as
"satisfactory"," S&P said.

RATINGS LIST

Charter Communications Inc.
Corporate Credit Rating            BB-/Stable/--

New Rating

Charter Communications Operating LLC
Senior Secured
  $500M revolver due 2018           BB+
   Recovery Rating                  1
  $1B term loan A-2 due 2020        BB+
   Recovery Rating                  1
  $3.2B term loan G due 2021        BB+
   Recovery Rating                  1
  $4.2B term loan H due 2022        BB+
   Recovery Rating                  1

Downgraded; Recovery Rating Revised
                                    To                    From
CCO Holdings LLC
Senior Unsecured                   B                     BB-
   Recovery Rating                  6                     3


CLEAREDGE POWER: Seeks Extension of Exclusivity Periods
-------------------------------------------------------
Clearedge Power has requested that Hon. Charles Novack extend its
exclusive period for filing and soliciting a Plan of
Reorganization in its chapter 11 case in the Bankruptcy Court for
the Northern District of California, San Jose Division.  The
Debtor is seeking a three-month extension to December 1, 2014 to
file its Plan and to January 28, 2015 to seek acceptances of the
Plan.  The Debtor filed its chapter 11 petition on May 1, 2014,
and has since sold most of its assets to Doosan Corp.

The Debtor contends that there is "cause" for the extension
pursuant to Sec. 1121(d) of the Bankruptcy Code based on the
factors enumerated in the case of In re Express One International,
Inc. 194 B.R. 98 (Bankr. E.D. Tex. 1996).  The Debtor points out
that its case is large and complex with over 1,500 creditors,
equity holders, and parties in interest; $67 million in
liabilities; and offices both in the U.S. and abroad.

The Debtor contends that the fact that less than three months have
elapsed since the petition date and that this is its first request
for an extension weigh in favor of an extension.  Additionally,
the Debtor argues that the consummation of the sale of its assets,
its timely filing of statements and schedules, and its cooperation
with the U.S. Trustee, all illustrate that good faith progress is
being made in the case.  The Debtor anticipates filing a Plan soon
after the close of the sale to Doosan.  The Debtor is also paying
obligations as they become due, and has made progress in its
negotiations with creditors.  The Debtor argues that the existence
of these factors necessitates an extension in this case.

The Debtor's request was filed by Thomas R. Hwang, Esq. at Dorsey
& Whitney LLP of Palo Alto, CA.

                      About ClearEdge Power

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

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

John Walshe Murray, Esq., at Dorsey and Whitney LLP, serves as
counsel to the Debtors.  Insolvency Services Group, Inc., serves
as noticing and claims agent.  Gerbsman Partners was hired to
assist in the asset sale.

ClearEdge Power disclosed $31,271,670 in assets and $67,414,779 in
liabilities as of the Chapter 11 filing.

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

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

On May 22, 2014, the U.S. Trustee for Region 17 appointed five
creditors to serve in the Committee.  The Committee has hired
Brown Rudnick as Counsel and Teneo Securities as financial
advisors.


COLOR STAR GROWERS: Seeks Extension of Solicitation Period
----------------------------------------------------------
Color Star Growers of Colorado, Inc. has requested an extension to
its exclusive period for soliciting acceptances to a Plan of
Reorganization in its chapter 11 case in the Bankruptcy Court for
the Eastern District of Texas, Sherman Division.  Since the
petition date, the Debtor has continued to operate as a debtor-in-
possession.  In January 2014, the Debtor sold substantially all of
its assets at auction.

In June, the Debtor entered into a settlement with its lenders and
the Official Committee of Unsecured Creditors regarding disputes
that were hindering the formulation of a Plan.  On June 13, 2014,
the Debtors filed their first Joint Plan of Liquidation.  The
Debtors intend on amending the Plan to conform it to the terms of
the settlement between the Settling Parties.

On June 17, the Court entered its Order which, among other things,
extended the Solicitation Exclusivity Period to August 12, 2014.

On July 18, at a hearing on the settlement, the Court approved the
settlement among the Parties. Also at that hearing, the Court
discussed the plan process and counsel for the Debtors informed
the Court of the Debtors' intention to seek this extension, and no
parties objected.  If granted, this third extension would extend
the Debtor's solicitation period to October 9.

A hearing on the Debtor's request is scheduled for August 25th in
Plano, TX before Hon. Brenda T. Rhoades.

The Debtor is represented by Marcus A. Helt, Esq. and Evan R.
Baker, Esq. at Gardere, Wynne, & Sewell LLP of Dallas, TX.

                      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.


CPI BUYER: S&P Assigns 'B' CCR & Rates $260MM Facility 'B'
----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to CPI Buyer LLC.  At the same time, S&P assigned a
'B' issue-level rating with a '3' recovery rating to the new $260
million first-lien credit facility, which includes an undrawn $20
million revolving credit line.  The '3' recovery rating reflects
S&P's expectation for meaningful (50%-70%) recovery in the event
of a payment default.  S&P also assigned a 'CCC+' issue-level
rating with a '6' recovery rating to the new $107 million second-
lien credit facility.  The '6' recovery rating reflects S&P's
expectation for negligible (0%-10%) recovery in the event of a
payment default.

"Our business risk profile assessment reflects CPI's relatively
small size, differentiated but narrow business focus, and its
niche position in a large space that is dominated by large
competitors like Thermo Fisher Scientific Inc., VWR, Bio-Rad
Laboratories Inc., and PerkinElmer Inc.," said credit analyst
Maryna Kandrukhin.  "These weaknesses are only partially offset by
CPI's leading market position within its niche space, adequate
diversity profile, and above average profitability. Overall we
categorize the company's business risk profile as "weak"."

The stable rating outlook reflects S&P's expectation that CPI will
execute on its stand-alone strategy with minimal disruption to its
business and modest stand-alone costs.  S&P forecasts single-digit
revenue growth, positive cash flow generation and adjusted debt
leverage above 5x over the next 12 months.

Downside Scenario

S&P would consider lowering the rating if the company is at risk
of generating positive discretionary cash flow.  S&P estimates
that a 5% drop in revenue and about 400 bps in EBITDA margin
contraction would result in cash flow below $10 million.  At that
point, leverage would exceed 8x and the interest coverage ratio
would fall below 2x.  This could happen if CPI loses its leading
market position in low flow scientific applications space as a
result of competitive and/or technological developments.  Such a
scenario would encompass a significant dip in revenues for the
company's higher margin proprietary product and subsequent
reduction in sales for consumables, pressuring margins.

Upside Scenario

While unlikely over the next 12 months, S&P could raise its
corporate credit rating on CPI if the company sustains a debt-to-
EBITDA ratio at around 4.5x and its FFO-to-debt ratio above 12%.
This scenario would require an increase in EBITDA of about 50%.
S&P's belief that the financial sponsor is committed to sustaining
the company's leverage in that range would be a prerequisite for
an upgrade.


CROWN MEDIA: Posts $16 Million Net Income in Second Quarter
-----------------------------------------------------------
Crown Media Holdings, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income attributable to common stockholders of $15.96 million
on $97.35 million of net total revenue for the three months ended
June 30, 2014, as compared with net income attributable to common
stockholders of $16.51 million on $89.47 million of net total
revenue for the same period in 2013.

For the six months ended June 30, 2014, the Company posted net
income attributable to common stockholders of $28 million on
$188.02 million of net total revenue as compared with net income
attributable to common stockholders of $31.04 million on $175.03
million of net total revenue for the same period last year.

As of June 30, 2014, the Company had $1.05 billion in total
assets, $625.24 million in total liabilities and $427.14 million
in total stockholders' equity.

"During Second Quarter, we continued to showcase our commitment to
quality, original scripted series by successfully launching our
third series, Signed, Sealed, Delivered, fortifying our brand and
establishing a strong foundation for the second half of the year,"
said Bill Abbott, president and CEO of Crown Media Family
Networks.  "Moreover, we reported double-digit operating cash flow
growth propelled by rising advertising revenue in recent quarters.
Solid pricing combined with our second season of Cedar Cove and a
robust slate of original movies should bolster earnings through
the remainder of the year."

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

                       http://goo.gl/w9HZpH

                        About Crown Media

Crown Media Holdings, Inc., is the corporate parent for the
portfolio of cable networks and related businesses under Crown
Media Family Networks.  The company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to 86 million subscribers in the U.S.
Hallmark Channel is the nation's leading destination for quality
family programming with an ambitious slate of TV movies and
specials; original scripted series, including Cedar Cove, When
Calls the Heart, and Signed, Sealed, Delivered; as well as some of
television's most beloved sitcoms and series.  Hallmark Channel's
sibling network, Hallmark Movie Channel, is available in 54
million homes in HD and SD. One of America's fastest-growing cable
networks, Hallmark Movie Channel provides family-friendly original
movies with a mix of original films, classic theatrical releases,
and presentations from the acclaimed Hallmark Hall of Fame
library.  In addition, Crown Media Family Networks includes the
online offerings of HallmarkChannel.com and
HallmarkMovieChannel.com.

Crown Media reported net income attributable to common
stockholders of $67.71 million on $377.80 million of net total
revenue for the year ended Dec. 31, 2013, as compared with net
income attributable to common stockholders of $107.35 million on
$349.87 million of net total revenue for the year ended Dec. 31,
2012.

                         Bankruptcy Warning

"Our senior secured credit facilities and the indenture governing
the Notes contain a number of covenants that impose significant
operating and financial restrictions on us which, among other
things, limit our ability to do the following:

   * incur additional debt or issue certain preferred shares;

   * pay dividends on or make distributions in respect of our
     capital stock or make other restricted payments;

   * make certain payments on debt that is subordinated or secured
     on a junior basis;

   * make certain investments;

   * sell certain assets;

   * create liens on certain assets;

   * consolidate, merge, sell or otherwise dispose of all or
     substantially all of our assets;

   * enter into certain transactions with our affiliates; and

   * designate our subsidiaries as unrestricted subsidiaries.

Any of these restrictions could limit our ability to plan for or
react to market conditions and could otherwise restrict corporate
activities.  Any failure to comply with these covenants could
result in a default under our senior secured credit facilities and
the indenture governing the Notes.  Upon a default, unless waived,
the lenders under our senior secured credit facilities could elect
to terminate their commitments, cease making further loans,
foreclose on our assets pledged to such lenders to secure our
obligations under the senior secured credit facilities and force
us into bankruptcy or liquidation.  Holders of the Notes would
also have the ability ultimately to force us into bankruptcy or
liquidation, subject to the indenture governing the Notes," the
Company said in the Annual Report for the year ended Dec. 31,
2013.

                           *     *     *

As reported by the TCR on May 28, 2012, Standard & Poor's Ratings
Services raised its corporate credit rating on Studio City,
Calif.-based cable network company Crown Media Holdings Inc. to
'B+' from 'B'.  "The upgrade reflects Crown Media's recent
operating performance, which achieved higher EBITDA and lower
leverage than our expectations," said Standard & Poor's credit
analyst Deborah Kinzer.

As reported by the TCR on July 2, 2014, Moody's Investors Service
upgraded the Corporate Family Rating (CFR) of Crown Media
Holdings, Inc. to B1 from B2, its Probability of Default Rating to
B1-PD from B2-PD, and instrument ratings as detailed below. The
outlook is stable.  The upgrade incorporates evidence of traction
with the original programming strategy and better than expected
performance, which, combined with debt reduction, improved the
credit profile.


CRUMBS BAKE SHOP: Noah Reynolds Dumps Equity Stake
--------------------------------------------------
W Noah Reynolds disclosed in a SCHEDULE 13G-A filing dated July 25
with the Securities and Exchange Commission that, as of July 23,
he no longer holds equity shares of Crumbs Bake Shop, Inc.

As reported by the Troubled Company Reporter, Mr. Reynolds
disclosed in a Schedule 13G filing dated July 18, that as of
July 14, he may be deemed to beneficially own 800,000 shares or
6.33% of the Company's common stock.  This is based on the
12,469,073 Common Shares and 234,000 Preferred Shares reported on
the Company's Form 10-Q as of March 31, 2014.

Mr. Reynolds is a great-grandson of R.J. Reynolds Tobacco Co.'s
founder.

Richard Craver, writing for the Winston-Salem Journal, reported on
July 21 that Mr. Reynolds did not comment on the July 18
regulatory filing, but that he told Bloomberg News he spent more
than $250,000 on his stake.  The share price was unchanged July 21
at 34 cents, making his investment worth $272,000.  According to
the Winston-Salem Journal report, Mr. Reynolds said he believes
that Marcus Lemonis -- host of CNBC's The Profit series, chief
executive of Camping World, and among the investors behind Lemonis
Fischer Acquisition Co. LLC, which is buying Crumbs at a
bankruptcy action -- will probably preserve some value for
existing shareholders in the reorganized company.  "I am banking
on Mr. Lemonis's reputation," Mr. Reynolds said.  "I will either
own a few crumbs in the new business or be wiped out."

The July 25 SEC filing, however, doesn't provide any further
details about Mr. Reynolds' latest move.

                      About Crumbs Bake Shop

Crumbs Bake Shop, Inc. (OTCBB: CRMB), a New York-based cupcake
specialty store chain, and 22 of its affiliates filed separate
Chapter 11 bankruptcy petitions (Bankr. D. N.J. Lead Case No.
14-24287) on July 11, 2014.  John D. Ireland signed the petitions
as chief financial officer.  Crumbs Bake Shop estimated assets of
$10 million to $50 million and the same range of liabilities.

Cole, Schotz, Meisel, Forman & Leonard, P.A., acts as the Debtors'
counsel.  Glass Ratner is serving as Crumbs' financial advisor.
Prime Clerk LLC is the Debtors' claims and noticing agent.  Judge
Michael B. Kaplan oversees the jointly administered cases.

                           *     *     *

On July 7, 2014, the Board of Directors of Crumbs Bake Shop
determined to cease operations effective immediately.  The Board's
determination was made after the Company lacked sufficient
liquidity to maintain current operations.

On the petition date, Crumbs entered into an Asset Purchase
Agreement through which Lemonis Fischer Acquisition Company, LLC,
a joint venture created by Marcus Lemonis LLC and Fischer
Enterprises, L.L.C., will acquire the Crumbs' business as part of
the Company's Chapter 11 filing.  The Debtor will sell itself at a
bankruptcy auction on Aug. 21.  The lead bidder has a $6.5 million
credit bid.  A hearing to approve the sale is scheduled to take
place on Aug. 26.  The Company hopes to complete the sale process
in approximately 60 days, pending receipt of the necessary
approvals from the Bankruptcy Court.

Lemonis Fischer Acquisition is represented by Louis Price, Esq.,
at McAfee & Taft PC.


CRYOPORT INC: Incurs $3.1 Million Net Loss in Q1 Fiscal 2015
------------------------------------------------------------
Cryoport, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common stockholders of $3.06 million on $936,588
of revenues for the three months ended June 30, 2014, as compared
with a net loss of $1.32 million on $487,963 of revenues for the
same period last year.

As of June 30, 2014, the Company had $1.32 million in total
assets, $2.38 million in total liabilities, all current, and a
$1.05 million total stockholders' deficit.

As of June 30, 2014, Cryoport had cash and cash equivalents of
$0.2 million compared with $0.4 million as of March 31, 2014.

"We continue to make significant strides in our business
development efforts as demonstrated over the last several
quarters.  This includes closing a number of strategic customer
deals and partnership agreements that will contribute
significantly to future revenue growth," stated Jerrell Shelton,
chief executive officer of Cryoport.  "Our focus on scaling
operations in order to drive profitable growth for the business is
quickly being recognized.  For the first quarter of fiscal 2015,
revenue increased 92% to $0.94 million, with a gross margin of
36%, compared to $0.49 million in revenue and a gross margin of
11% for the same period last year."

Mr. Shelton further stated, "We continue to move forward with our
'powered by CryoportSM' partnering strategy designed to expand our
sales and marketing reach as well as increase the awareness of our
solutions in the life sciences community.  We are excited to
report that our distinct strategic agreements with FedEx and DHL,
two of the largest integrators in the world, have allowed us to
extend our reach and positioning to address a larger portion of
the market.  Our unique approach with each partnership remains
proactive, as we look to help educate and provide ongoing support
to each company's respective sales team for our cryogenic
solutions."

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

                         http://goo.gl/o4SkLN

                            About Cryoport

Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides
comprehensive solutions for frozen cold chain logistics, primarily
in the life science industries.  Its solutions afford new and
reliable alternatives to currently existing products and services
utilized for bio-pharmaceuticals and biologics, including in-vitro
fertilization, cell lines, vaccines, tissue and other commodities
requiring a reliable frozen solution.

Cryoport reported a net loss of $19.56 million on $2.65 million of
revenues for the year ended March 31, 2014, as compared with a net
loss of $6.38 million on $1.10 million of revenues for the year
ended March 31, 2013.

KMJ Corbin & Company LLP, in Costa Mesa, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2014.  The independent
auditors noted that the Company has incurred recurring operating
losses and has had negative cash flows from operations since
inception.  Although the Company has cash and cash equivalents of
$369,581 at March 31, 2014, management has estimated that cash on
hand, which include proceeds from convertible bridge notes
received in the fourth quarter of fiscal 2014, will only be
sufficient to allow the Company to continue its operations into
the second quarter of fiscal 2015.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


DIAGNOSTICS RESEARCH: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Diagnostics Research Corporation
        4001 S. Decatur Blvd., Ste. 37-369
        Las Vegas, NV 89103

Case No.: 14-15195

Chapter 11 Petition Date: July 31, 2014

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Hon. August B. Landis

Debtor's Counsel: Samuel A. Schwartz, Esq.
                  THE SCHWARTZ LAW FIRM, INC.
                  6623 Las Vegas Blvd. So., Ste 300
                  Las Vegas, NV 89119
                  Tel: (702) 385-5544
                  Fax: (702) 385-2741
                  Email: sam@schwartzlawyers.com

Total Assets: $58,263

Total Liabilities: $3.27 million

The petition was signed by W. Stanton Sutton, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nvb14-15195.pdf


DOW CORNING: Tissue Expanders Are Breast Implants, 6th Cir. Says
----------------------------------------------------------------
Dow Corning Corporation suffered a loss Thursday when the U.S.
Court of Appeals for the Sixth Circuit affirmed a lower court
ruling over the definition of "breast implants".

Dow Corning manufactures and distributes various medical devices,
including "breast implants" and "tissue expanders."  For purposes
of the dispute, "[b]reast [i]mplant[s]" are "all silicone gel and
saline-filled breast implants with silicone elastomer envelopes
manufactured and either sold or otherwise distributed by [Dow
Corning]."  "Tissue expanders" come in hundreds of varieties, but
three Dow Corning models are designed for implantation in the
breast, where they are filled with saline to stretch the patient's
skin before (typically) being removed after several weeks.

Not all of these products worked the way they should.  By 1995,
thousands of breast-implant patients had filed lawsuits against
Dow Corning stemming from their use of the company's devices. Dow
Corning eventually filed a Chapter 11 bankruptcy petition. The
company agreed to a plan of reorganization that establishes a more
than $2 billion fund for patients willing to settle their claims.
The plan describes what claims are eligible for payment, how
claims will be paid, how much money claimants can receive, and so
on.  The plan empowers the district court "to resolve
controversies and disputes regarding interpretation and
implementation of th[e] Plan and the Plan Documents."

The parties asked the district court to determine whether the
plan's breast-implant coverage extended to tissue expanders. As
the trial court initially saw it, Dow Corning's three models of
breast-implanted tissue expanders met every element of the
reorganization plan's "[b]reast [i]mplant" definition. Each model
has a silicone envelope that is implanted in the breast and
gradually filled with saline solution. In the court's view,
"breast implants" thus unambiguously included "tissue expanders."

In a 2010 appeal, the Sixth Circuit agreed with the lower court,
in part.  After acknowledging that the court's resolution of the
"breast implant" question reasonably construed the reorganization
plan's words, the Sixth Circuit identified another, more technical
reading of "breast implant" that might exclude "tissue expanders"
from its scope.  On this basis, the Sixth Circuit reasoned that
the definition was ambiguous, vacated the district court's order,
and remanded the case to allow the court to consider other
evidence about the meaning of the phrase.

On remand, the district court considered the question anew. After
accounting for this other possibility, it still concluded that the
parties intended "[b]reast [i]mplant" to include "tissue
expanders."

Dow Corning again elevated the matter to the Sixth Circuit.  Dow
Corning insists that the district court erred because its second
ruling on the "breast implant" issue contradicts its first.  In
its first opinion on this topic, Dow Corning pointed out that the
district court said that "tissue expanders made by Dow Corning did
not trigger the 50% reduction in benefits as did breast implants,
lending credibility to [Dow Corning's] claim that even under the
[Revised Settlement Program] tissue expanders were not considered
`Breast Implants.'"  The district court's second opinion, Dow
Corning argues, treated this evidence differently.

A three-judge panel of the Sixth Circuit said this is an odd
argument for Dow Corning to make, as it sought a ruling from the
district court that was 180 degrees away from its first ruling.
That possibility was the whole point of the remand, the appeals
court said.

According to the Sixth Circuit, "At any rate, there is less
material tension here than Dow Corning suggests.  To say that some
evidence "lend[s] credibility" to an argument does not establish
that the district court found Dow Corning's argument conclusive or
even persuasive. The first time around, moreover, the statement
was dicta. The district court was careful to explain in its first
opinion that it did not "consider[] the [extrinsic] evidence
involving the [Revised Settlement Program]," because it believed
the parties' "[b]reast [i]mplant" definition to be unambiguous.
Only in its second opinion did the district court rely on (or make
any findings concerning) the Revised Settlement Program. On
remand, the district court fairly did what we asked and reasonably
construed the operative terms of the settlement agreement in the
process."

The case before the Sixth Circuit is, DOW CORNING CORPORATION,
Interested Party-Appellant, v. CLAIMANTS' ADVISORY COMMITTEE,
Interested Party-Appellee, No. 13-2456 (6th Cir.).  A copy of the
Sixth Circuit's July 31, 2014 opinion is available at
http://is.gd/r4vmt9from Leagle.com.   Judge Jeffrey Stuart Sutton
penned the decision.  Judges Richard Allen Griffin and Judge
Edmund A. Sargus, Jr., U.S. District Judge for the Southern
District of Ohio, sitting by designation, are the other two
members of the panel.

                      About Dow Corning

Dow Corning Corp. -- http://www.dowcorning.com/-- produces and
supplies more than 7,000 silicon-based products and services to
more than 25,000 customers worldwide.  Dow Corning is equally
owned by The Dow Chemical Company and Corning Incorporated.

The Company filed for Chapter 11 protection on May 15, 1995
(Bankr. E.D. Mich. Case No. 95-20512) to resolve silicone implant-
related tort liability.  The Company owed its commercial creditors
more than $1 billion at that time.  A consensual Joint Plan of
Reorganization, amended on February 4, 1999, offering to pay
commercial creditors in full with post-petition interest,
establish a multi-billion-dollar settlement trust for tort claims,
and leave Dow Corning's shareholders unimpaired, took effect on
June 30, 2004.


DOW CORNING: $1.6BB Breast Implant Suit Reserve at June 30
----------------------------------------------------------
Corning Inc. and The Dow Chemical Company each own 50% of the
common stock of Dow Corning Corporation.  In May 1995, Dow Corning
filed for bankruptcy protection to address pending and claimed
liabilities arising from breast implant product lawsuits.  On June
1, 2004, Dow Corning emerged from Chapter 11 with a Plan, which
provided for the settlement or other resolution of implant claims.
The Plan also included releases for Corning and Dow as
shareholders in exchange for contributions to the Plan.

Under the Plan, Dow Corning has established and is funding a
Settlement Trust and a Litigation Facility to provide a means for
tort claimants to settle or litigate their claims.  Inclusive of
insurance, Dow Corning has paid approximately $1.8 billion to the
Settlement Trust.

In a Form 10-Q filing with the Securities and Exchange Commission
for the the quarterly period ended June 30, 2014, Corning Inc.
disclosed that as of June 30, 2014, Dow Corning had recorded a
reserve for breast implant litigation of $1.6 billion.

Corning Inc. also disclosed that Dow Corning is defending claims
asserted by a number of commercial creditors who claim additional
interest at default rates and enforcement costs, during the period
from May 1995 through June 2004.  As of June 30, 2014, Dow Corning
has estimated the potential liability to these creditors to be
within the range of $97 million to $317 million.

As Dow Corning management believes no single amount within the
range appears to be a better estimate than any other amount within
the range, Dow Corning has recorded the minimum liability within
the range.  Should Dow Corning not prevail in this matter, Corning
Inc. said its equity earnings would be reduced by its 50% share of
the amount in excess of $97 million, net of applicable tax
benefits.  There are a number of other claims in the bankruptcy
proceedings against Dow Corning awaiting resolution by the U.S.
District Court, and it is reasonably possible that Dow Corning may
record bankruptcy-related charges in the future.

                      About Dow Corning

Dow Corning Corp. -- http://www.dowcorning.com/-- produces and
supplies more than 7,000 silicon-based products and services to
more than 25,000 customers worldwide.  Dow Corning is equally
owned by The Dow Chemical Company and Corning Incorporated.

The Company filed for Chapter 11 protection on May 15, 1995
(Bankr. E.D. Mich. Case No. 95-20512) to resolve silicone implant-
related tort liability.  The Company owed its commercial creditors
more than $1 billion at that time.  A consensual Joint Plan of
Reorganization, amended on February 4, 1999, offering to pay
commercial creditors in full with post-petition interest,
establish a multi-billion-dollar settlement trust for tort claims,
and leave Dow Corning's shareholders unimpaired, took effect on
June 30, 2004.


DTS8 COFFEE: Delays Form 10-K for Fiscal 2014
---------------------------------------------
DTS8 Coffee & Tea, Inc., filed with the U.S. Securities and
Exchange Commission a Notification of Late Filing on Form 12b-25
with respect to its annual report for the period ended April 30,
2014.  The Company said the Form 10-K could not be filed within
the prescribed time period due to additional time required to
prepare and complete that document.

                         About DTS8 Coffee

DTS8 Coffee Company, Ltd. (previously Berkeley Coffee & Tea, Inc.)
was incorporated in the State of Nevada on March 27, 2009.
Effective Jan. 22, 2013, the Company changed its name from
Berkeley Coffee & Tea, Inc., to DTS8 Coffee Company, Ltd.  On
April 30, 2012, the Company acquired 100 percent of the issued and
outstanding capital stock of DTS8 Holdings Co., Ltd., a
corporation organized and existing since June 2008 under the laws
of Hong Kong and which owns DTS8 Coffee (Shanghai) Co., Ltd.

DTS8 Holdings, through its subsidiary DTS8 Coffee, is a gourmet
coffee roasting company established in June 2008.  DTS8 Coffee's
office and roasting factory is located in Shanghai, China.  DTS8
Coffee is in the business of roasting, marketing and selling
gourmet roasted coffee to its customers in Shanghai, and other
parts of China.  It sells gourmet roasted coffee under the "DTS8
Coffee" label through distribution channels that reach consumers
at restaurants, multi-location coffee shops, and offices.

Malone & Bailey, PC, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the
year ended April 30, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations, which
raises substantial doubt about its ability to continue as a going
concern.

DTS8 Coffee incurred a net loss of $1.11 million for the year
ended April 30, 2013, following a net loss of $45,730 for the year
ended April 30, 2012.  The Company's balance sheet at Jan. 31,
2014, showed $4.60 million in total assets, $998,252 in total
liabilities, all current, $3.60 million in total shareholders'
equity.


E.W. SCRIPPS: S&P Puts 'BB-' CCR on Watch Pos. Over Merger Plans
----------------------------------------------------------------
Standard & Poor's Ratings Services placed all its ratings on
Cincinnati-based TV broadcaster and newspaper publisher E.W.
Scripps Co. on CreditWatch with positive implications.  This
includes the 'BB-' corporate credit rating and 'BB+' issue-level
rating on the company's senior secured credit facility.

The action follows the company's announcement last night that it
has entered into a definite agreement to merge with Milwaukee-
based Journal Communications Inc. and then spin off the two
companies' newspaper businesses into a separate independent
company.  S&P believes this transaction could improve the
company's business risk profile, which it currently assess as
"weak" due, in part, to the company's below average margins in the
television business and exposure to the newspaper segment, which
faces unfavorable secular trends.  The transaction will provide
opportunities for the company to improve its EBITDA margin, which
is below peers', through greater scale and more TV station
duopolies.  In addition, the spin-off of the newspaper operations
would alleviate risks of structural decline in print-based
publishing and allow the company to focus its efforts on improving
its TV business.  Pro forma for the transaction, E.W. Scripps will
own 35 TV stations and 35 radio stations in 27 markets, reaching
roughly 18% of U.S. TV households.  S&P expects Scripps will
assume or refinance Journal Communications' outstanding debt and
will assume all newspaper pension obligations resulting in
adjusted leverage in the 2x area (Scripps' adjusted leverage as of
March 31, 2014 was 2.5x).

In resolving S&P's CreditWatch listing, it will more fully
evaluate the business risk profile of E.W. Scripps, assessing
management's ability to operate a larger TV station company after
integrating both this acquisition and the two Granite TV stations
that it purchased in June 2014.  S&P will focus specifically on
the ability of the company to improve its EBITDA margin to more
closely align with its TV station peers.


EDGENET INC: Wins September Extension of Plan Exclusivity Period
----------------------------------------------------------------
Edgenet, Inc. requested an extension of its exclusive period for
filing and soliciting a Plan of Reorganization in its chapter 11
case in the Bankruptcy Court for the District of Delaware.  This
was the Debtor's second request for an extension.  The Debtor is
requesting an extension to September 14th to file its Plan and to
November 10th to solicit acceptances to the Plan.  Since filing
its chapter 11 petition, the Debtor has been working on the sale
of substantially all of its assets.  An auction was conducted on
June 6th where EdgeAG, LLC was the successful bidder.  The Debtor
also instituted an adversary proceeding against Ernest Han-Ping Wu
seeking avoidance of Wu's alleged security interest in the
Debtor's assets.  The Debtor has filed a motion for summary
judgment in that matter, and expects a resolution shortly.
Section 11121(d) of the Bankruptcy Code permits extensions of a
Debtor's exclusive filing period and exclusive solicitation period
for "cause".

The Debtor argues that "cause" exists in this case for the
following reasons:

   1) Until the Wu adversary proceeding is resolved, the Debtor
will be unable to calculate the extent of equity holder claims;

   2) The Debtor has made good faith progress in this case by
filing the necessary schedules and statements, and through the
sale of its assets;

   3) The Debtor is current on its post-petition obligations;

   4) The case has only been pending for a period of a few months;
and

   5) The extension will not prejudice creditors.

The Debtor is represented by Dominic E. Pacitti, Esq., Raymond H.
Lemisch, Esq., and Margaret M. Manning, Esq. at Klehr, Harrison,
Harvey, Branzburg LLP of Wilmington, DE and Morton R. Branzburg,
Esq. at the Philadelphia, PA office of the firm.

Hon. Brendan L. Shannon granted the requested extension.

                       About Edgenet Inc.

Edgenet, Inc., and Edgenet Holding Corp. are providers of cloud-
based content and applications that enable companies to sell more
products and services with greater ease across multiple channels
and devices.  Edgenet has three business locations: Waukesha, WI,
Brentwood, TN, and its main office in Atlanta, GA.  The Company
has 80 employees.

Edgenet Inc. and Edgenet Holding filed for Chapter 11 bankruptcy
protection in Delaware (Lead Case No. 14-10066) on Jan. 14, 2014.

Edgenet Inc. estimated assets of at least $10 million and
liabilities of $100 million to $500 million.

Raymond Howard Lemisch, Esq., at Klehr Harrison Harvey Branzburg
LLP, in Wilmington, Delaware, serves as counsel to the Debtors;
Glass Ratner Advisory & Capital Group LLC is the financial
advisor; JMP Securities, LLC, is the investment banker, and Phase
Eleven Consultants, LLC, is the claims and noticing agent.

The U.S. Trustee has been unable to appoint an official unsecured
creditors committee as no sufficient interest has been generated
from creditors.

Fred Marxer, Timothy Choate and Davis Carr, individuals and
holders of a segment of the promissory notes issued in 2004 that
have been referred to by Edgenet, Inc., et al., requested that the
Court issue an order appointing an official committee of Seller
Noteholders, or in the alternative, an official committee of
unsecured creditors, with members appointed from the Seller
Noteholders who agree to waive any continued security interest
arising from the Seller Notes.

Roberta A. DeAngelis, the U.S. Trustee for Region 3, appointed on
March 13, 2014, five noteholders to serve on the Official
Committee of Note Holders.  In May, Bankruptcy Judge Brendan L.
Shannon denied Edgenet Inc., et al.'s motion to disband the
Noteholders Committee.

The Noteholders Committee has retained Morris James LLP's Jeffrey
R. Waxman, Esq.; and Cooley LLP's Cathey Hershcopf, Esq., and
Jeffrey L. Cohen, Esq., as co-counsel to the Committee.


ENERGY SERVICES: S&P Assigns 'B' CCR; Outlook Stable
----------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Energy Services Holdings, LLC.  The outlook is
stable.  At the same time, S&P assigned its 'B' issue-level rating
(the same as the corporate credit rating) to the company's
proposed $150 million first-lien term loan due 2020 and proposed
$30 million revolver due 2019, with a recovery of '3', indicating
S&P's expectation for meaningful (50% to 70%) recovery for lenders
in the event of default.

The ratings on ESH reflect Standard & Poor's view of the company's
limited scale and exposure to cyclical end-markets -- albeit with
some competitive advantage -- which support sustainable EBITDA
margins that S&P considers average.  S&P's assessment of the
company also reflects its controlling ownership by financial
sponsor Cadent Energy Partners, and our expectation that ESH will
use a portion of the proceeds from the proposed offering to pay an
$85 million dividend to shareholders and to refinance existing
debt.  S&P views financial sponsor ownership, in general, as
potentially leading to increased financial leverage, such as
through potential dividend recapitalizations, which are not
incorporated in S&P's base-case scenario.  In S&P's view, the
combination of these attributes limits the company's operational
and financial flexibility.

ESH provides electrical services to the North American energy
infrastructure market, with a somewhat balanced exposure to
downstream, midstream, upstream, and the relatively stable
transmission and distribution (T&D).  Its ability to provide
services for nondiscretionary and largely recurring maintenance
work (over 50%) provides stable growth prospects and revenue
visibility.  The balance of sales is tied to new capital projects,
which could potentially be more cyclical--though S&P currently
observes favorable dynamics in the onshore upstream oil industry
because of sustained high oil prices and the growth in hydraulic
fracturing activity.

Other competitive advantages include the ability to maintain and
improve customer retention and anticipate potential bidding
requirements through its adopted system of entrenching technicians
within customer locations and operations.  S&P believes this could
lead to somewhat higher stability of revenue streams going
forward.

S&P notes that ESH's overall EBITDA margins levels are vulnerable
to highly volatile customer spending levels.  S&P believes that
ESH is less likely to cope with periods of weakness and thereby
reduce the volatility of earnings through a modest downturn
relative to companies that are more cost-advantaged or are larger
and more diversified.

Also, S&P incorporates some risk of releveraging beyond 5x through
future dividend recapitalizations or acquisitions, but none are
included in S&P's current assumptions.  ESH's relatively low
capital expenditure requirements should enable positive free cash
flow over the next 12 months.


ESPIRITO SANTO FINANCIERE: Files for Creditor Protection
--------------------------------------------------------
Patricia Kowsmann, writing for The Wall Street Journal, reported
that Espirieto Santo Financiere SA, another entity of troubled
Portuguese conglomerate Espirito Santo International SA that has
exposed the country's second-largest lender to big losses, has
filed for creditor protection in Luxembourg.

According to the report, analysts said Banco Espirito Santo may
need a capital injection of EUR3 billion (US$4 billion).  While
the lender has said there are shareholders and private investors
interested in participating, analysts say it is becoming
increasingly likely the bank will also need state aid, the report
said.


EXIDE TECHNOLOGIES: Has $217.7MM Net Loss in Fiscal Year 2014
-------------------------------------------------------------
Exide Technologies delivered to the U.S. Securities and Exchange
Commission its Annual Report on Form 10-K for the fiscal year
ended March 31, 2014.

For the 12 months ended March 31, 2014, Exide posted a net loss of
$217,730,000, slightly lower than the $223,091,000 for the same
period in 2013.  Exide reported net income of $55,954,000 for the
year ended March 31, 2012.

Exide said net sales were $2,855,433,000 for the year ended March
31, 2014, slightly down from $2,971,698,000 for 2013 and
$3,084,650 in 2012.

At March 31, 2014, Exide had $2,032,788,000 in total assets
against $829,611,000 in total current liabilities and
$1,101,661,000 in liabilities not subject to compromise.

Exide's Chapter 11 filing triggered defaults on substantially all
debt obligations of the Company and, as a result, the Company's
Senior Secured Notes and convertible senior subordinated notes
have been accelerated and are due and payable.  Under Section 362
of the Bankruptcy Code, actions to collect pre-petition
indebtedness, as well as most other pending litigation, are
stayed.  Absent an order of the Bankruptcy Court, substantially
all pre-petition liabilities are subject to settlement under a
plan of reorganization approved by the Bankruptcy Court.  There
can be no assurance that a plan will be proposed by the Company or
confirmed by the Bankruptcy Court or that any such plan will be
successfully implemented.

On June 30, 2014, the Company received a non-binding proposal for
a plan of reorganization from the Unofficial Committee of Senior
Secured Noteholders -- UNC -- whose members hold a substantial
majority of the term loan component of the DIP Credit Facility and
pre-petition senior secured notes.  The POR Proposal, which is
subject to completion of definitive documentation and certain
other conditions, would provide approximately $485.0 million in
new capital, and is currently expected to be comprised of the
following:

     -- A preferred convertible equity capital commitment of
approximately $300.0 million (a portion of which will be in the
form of a rights offering backstopped by certain members of the
UNC and another portion in the form of a direct investment by
certain members of the UNC);

     -- A $185.0 million bond issuance also backstopped by certain
members of the UNC; and

     -- An asset based loan facility for which commitments would
be obtained from potential lenders in conjunction with the plan
confirmation process.

Exide said in its Form 10-K that at this time it is not possible
to predict the ultimate effect of the Chapter 11 reorganization on
the Company's business, various creditors and security holders, or
when it may be possible to emerge from Chapter 11. The Company
believes that under any reorganization plan the Company's common
stock would likely be substantially diluted or canceled in its
entirety.

A copy of Exide's Form 10-K is available at http://is.gd/foqH9c

                      About Exide Technologies

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

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

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

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

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

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

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


EXIDE TECHNOLOGIES: Obtains Amendments to DIP Loan Covenants
------------------------------------------------------------
Exide Technologies obtained certain amendments to its Amended and
Restated Superpriority Debtor-in-Possession Credit Agreement,
dated as of July 12, 2013, by and among:

      * the Company, as US Borrower,
      * Exide Global Holding Netherlands C.V., as
        Foreign Borrower,
      * the lenders from time to time party thereto, and
      * JPMorgan Chase Bank, N.A., as Agent,

pursuant to Amendment No. 6, dated as of July 22, 2014, and
Amendment No. 7, dated as of July 25, 2014.

Amendment No. 6, among other things, became effective to amend the
DIP Credit Agreement as follows:

     -- eliminates restrictions on capital expenditures;

     -- modifies the definition of earnings before interest,
taxes, depreciation, amortization and restructuring;

     -- adjusts the minimum EBITDA covenant to include the period
October through November 2014 and addresses lower anticipated
earnings through the end of calendar 2014; and

     -- extends certain milestones relating to the confirmation of
a plan of reorganization by the Bankruptcy Court and the effective
date of the Plan, based on a requested extension of the maturity
date of the Amended DIP Credit Agreement to December 31, 2014.

Specifically, Amendment No. 6 provides that:

     -- Exide will not permit the aggregate amount of Liquidity to
be less than $35,000,000 for any five consecutive Business Days;

     -- Exide will not permit EBITDA to fall below for the period
then ended:

             Date                         Minimum EBITDA
             ----                         --------------
        July 31, 2014                       $87,650,000
        August 31, 2014                     $84,550,000
        September 30, 2014                  $82,000,000
        October 31, 2014                    $80,750,000
        November 30, 2014                   $81,400,000

     -- Charges and costs incurred (x) for hourly wages and
benefits relating to the Company's facility located in Vernon,
California may not exceed $2,000,000 for the six-month period
ending December 31, 2014.

The requisite lenders under the Amended DIP Credit Agreement also
approved the option for the Company to obtain additional term loan
financing of up to $65 million.

On July 28, 2014, the Bankruptcy Court entered an order
authorizing the Company to amend the Amended DIP Credit Agreement
to obtain such additional financing.

Pursuant to a commitment letter executed by certain members of the
Unofficial Committee of Senior Secured Noteholders, the members
have committed, among other things, to providing additional term
loan financing with net cash proceeds of $60 million, subject to
the satisfaction of certain conditions.

All of the lenders under the Amended DIP Credit Agreement approved
an extension to the DIP maturity date to December 31, 2014
pursuant to Amendment No. 6.  The extension will become effective
upon the satisfaction of certain conditions, including, among
other things, the Company and members of the UNC holding a
majority in principal amount of the Company's Senior Secured Notes
entering into a customary plan support agreement with respect to
an Acceptable Plan of Reorganization, as that term is defined in
the Amended DIP Credit Agreement.

Amendment No. 7 eliminates the milestone related to filing the
Plan with the Bankruptcy Court.

A copy of Amendment No. 6 is available at http://is.gd/vjogw9

A copy of Amendment No. 7 is available at http://is.gd/xOnEdL

                    About Exide Technologies

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

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

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

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

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

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

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


EXIDE TECHNOLOGIES: Needs Until December to File Plan
-----------------------------------------------------
Exide Technologies asks the U.S. Bankruptcy Court for the District
of Delaware to extend, for the third time, until Dec. 10, 2014,
its exclusive period to file a plan of reorganization and until
Feb. 10, 2015, its exclusive period to solicit votes on that plan.

The Debtor said in court papers that the extension to allow on-
going negotiation of a confirmable plan of reorganization and to
garner maximum consensus around that plan.  The Debtor has said
that it received a constructive proposal for a plan of
reorganization -- the precise contours of which the parties are
still negotiating -- from the unofficial committee of senior
secured noteholders, whose members currently hold approximately
66% of the principal amount outstanding of the Debtor's senior
secured notes.

In addition, the Debtor and the UNC have continued to engage the
official committee of unsecured creditors in the plan formulation
process.  More specifically, the Debtor and the UNC exchanged
various plan term sheets with the Committee and its professionals
and conducted several in-person meetings among the professionals
in an effort to achieve a consensual plan construct.  Indeed, the
Debtor understands that the Committee is evaluating the latest
plan proposal and is expecting to provide feedback.

Finally, the Debtor said it has begun the extensive process of
marketing the exit financing for a plan of reorganization, having
commenced negotiations with eight potential investors and lenders
regarding the terms of a potential exit asset-based revolver, exit
term loan, or other alternative financing structure.

A hearing to consider approval of the extension request is
scheduled for Sept. 3, 2014, at 10:00 a.m. (Eastern).  Objections
are due Aug. 18.

                    About Exide Technologies

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

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

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

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

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

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

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


EXIDE TECHNOLOGIES: Can Obtain $65-Mil. of Additional Financing
---------------------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware to obtain additional postpetition financing of up to
$65 million from certain members of the Unofficial Committee of
Senior Secured Noteholders.  The additional financing will be used
to provide the Debtor additional liquidity until it emerges from
bankruptcy protection.

The Debtor also obtained approval of additional amendments to the
DIP Facility, which amendments include an extension of the
maturity of the DIP Facility to December 31, 2014, adjustments to
the EBITDA covenant thresholds, elimination of the capital
expenditures covenant and an increase to the minimum liquidity
covenant.

The Official Committee of Unsecured Creditors objected to the
Debtor's request for additional financing, complaining that while
the panel understands that the Debtor may potentially be in need
of additional bridge financing to reach a confirmation hearing,
the Committee believes that certain provisions of the proposed
financing are objectionable and must be stricken or clarified.
The Creditors' Committee also complains that the Debtor made
mention of a plan support agreement but did not yet disclose the
document.

                    About Exide Technologies

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

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

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

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

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

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

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


FALCON STEEL: Termination Date in Cash Collateral Order Moved
-------------------------------------------------------------
Falcon Steel Company sought an Order extending the termination
date of the Interim Order for use of cash collateral in its
chapter 11 case in the Northern District of Texas, Fort Worth
Division.  The Debtor filed its chapter 11 petition on June 29,
2014.  On July 2, the Court entered an Interim Order for Use of
Cash Collateral and Providing Partial Adequate Protection.  The
Order was set to expire on July 18.  Pursuant to the Order, the
Debtor submitted a proposed subsequent budget to Texas Capital
Bank regarding the continued use of cash collateral, which Texas
Capital approved.  The Debtor and Texas Capital submitted an
Agreed Order extending the termination date to August 1.  Hon. D.
Michael Lynn approved the Order on July 17.

                    About Falcon Steel Company

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

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

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

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

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

Attorneys for the Debtor are Jeff P. Prostok, Esq. and Linda L.
Lankford, Esq. at Forshey & Prostok LLP of Ft. Worth, TX.

Texas Capital is represented by Eli Columbus, Esq. at Winstead PC
of Dallas, TX and Jonathan L. Howell, Esq. at McCathern PLLC of
Dallas, TX.


FLORIDA GAMING: Court Confirms Liquidation Plan
-----------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Florida on
July 23, 2014, entered an order confirming Florida Gaming
Corporation and its subsidiary, Florida Gaming Centers, Inc.'s
Second Amended Joint Chapter 11 Plan of Liquidation dated July 16.

As of July 28, the effective date of the Plan has yet to be
determined.

PURSUANT TO THE TERMS OF THE PLAN, ALL OF THE COMPANY'S EXISTING
EQUITY INTERESTS, CONSISTING OF SHARES OF CLASS A CONVERTIBLE
PREFERRED STOCK, CLASS AA CONVERTIBLE PREFERRED STOCK, CLASS B
CONVERTIBLE PREFERRED STOCK AND CLASS F CONVERTIBLE PREFERRED
STOCK, AND SHARES OF AND OPTIONS TO PURCHASE SHARES OF COMMON
STOCK, WILL BE DEEMED CANCELLED UPON THE EFFECTIVE DATE, AND THE
COMPANY'S SHAREHOLDERS WILL NOT RECEIVE OR RETAIN ANY DISTRIBUTION
OR OTHER PROPERTY ON ACCOUNT OF THEIR SHARES.

AS OF THE DATE OF THE CONFIRMATION ORDER, THERE WERE: 1,200,000
SHARES AUTHORIZED AND 27,756 SHARES OUTSTANDING OF THE COMPANY'S
CLASS A CONVERTIBLE PREFERRED STOCK; 5,000 SHARES AUTHORIZED AND
OUTSTANDING OF THE COMPANY'S CLASS AA CONVERTIBLE PREFERRED STOCK;
50 SHARES AUTHORIZED AND 45 SHARES OUTSTANDING OF THE COMPANY'S
CLASS B CONVERTIBLE PREFERRED STOCK; 2,500 SHARES AUTHORIZED AND
1,000 SHARES OUTSTANDING OF THE COMPANY'S CLASS F CONVERTIBLE
PREFERRED STOCK; AND, 7,500,000 SHARES AUTHORIZED AND 4,037,293
SHARES OUTSTANDING OF THE COMPANY'S COMMON STOCK AND 826,250
OUTSTANDING OPTIONS TO PURCHASE SHARES OF THE COMPANY'S COMMON
STOCK.

The Plan provides for the appointment of a Creditor Trustee to
administer the Plan and the Creditor Trust.  The Creditor Trustee
will also serve as a representative of the Debtors' estates for
the purpose of enforcing causes of action belonging to the
Estates. In addition, among other things, the Creditor Trustee
will (i) administer, and make all payments required pursuant to,
the settlements by and among the Debtors, the Lenders under the
Debtors' Credit Agreement and the Creditors' Committee, as set
forth in the previously disclosed settlement agreement dated March
19, 2014 among such parties and (ii) take such actions as are
necessary and reasonable to carry out the purposes of the Creditor
Trust, including winding down the Debtors' business affairs.

Other than Administrative Claims and Priority Tax Claims, the
claims and interests in the Debtors are divided into 7 classes.
The Plan generally provides for payment in full, in cash, to
holders of Allowed Class 1 Centers Claims and partial payment, in
cash, to holders of Allowed Class 2 Lenders Holding Claims and
Class 3 Non-Subordinated Holdings Claims, as provided in the
Settlement Agreement. Holders of Class 4 Subordinated Holdings
Claims are entitled to distributions of their pro rata share of
the Subordinated Holdings Claim Remainder, if any, as described in
the Plan. Holders of Allowed Class 5 Centers Equity Interests are
entitled to receive distributions on account of such interests
from the net proceeds of any Causes of Action, if any, after
payment in full of all Class 1 Allowed Claims, as provided in the
Plan. Holders of Class 6 Holdings Preferred Equity Interests and
Class 7 Holdings Equity Interests will not receive or retain any
property under the Plan on account of such claims.

Pursuant to the Plan, all equity interests in the Company
(including outstanding shares of common stock, preferred stock,
options, warrants or contractual or other rights to acquire any
equity interests of the Company) will be deemed cancelled on the
Effective Date.

Following the Effective Date, the Company intends to file a Form
15 with the Securities and Exchange Commission to terminate and
suspend the reporting requirements related to its common stock
under the Securities Exchange Act of 1934, as amended.

A copy of the Second Amended Chapter 11 Joint Plan of Liquidation
of the Company and Centers is available at http://is.gd/G0q0Pa

A copy of the Confirmation Order is available at
http://is.gd/q3gaqs

                       About Florida Gaming

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

Bankruptcy Judge Robert A. Mark oversees the case.  The Debtors
are represented by Luis Salazar, Esq. and Jesse R. Cloyd, Esq. at
Salazar Jackson, LLP of Miami, Florida.

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

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

                           *     *     *

The Debtors have sold their assets to Fronton Holdings, LLC, an
entity established by ABC Funding.  The $140,000,000 purchase
price consisted of a credit bid of $99,907,336 on account
of the Loan Claim and cash in the amount of $40,092,664.  The
Bankruptcy Court approved the sale on April 7, 2014.  The parties
consummated the 363 Sale on April 30.

The Debtors have submitted to the Bankruptcy Court a Disclosure
Statement explaining their Second Amended Joint Plan of
Liquidation dated June 16, 2014.  The Plan serves as a separate
plan of liquidation for each of the Debtors.  The Plan does not
seek to effect a substantive consolidation or other combination of
the separate estates of each Debtor but instead provides that
creditors of each Debtor will be permitted to assert their claims
only against the Debtor(s) which they hold Allowed Claims.


FURNITURE BRANDS: 2nd Amended Liquidation Plan Declared Effective
-----------------------------------------------------------------
The U.S. Bankruptcy Court in Wilmington, Delaware on July 14,
2014, entered an order confirming the Second Amended Joint Plan of
Liquidation as filed on July 9, 2014, by FBI Wind Down, Inc.,
formerly known as Furniture Brands International, Inc. and its
affiliated entities.

On August 1, 2014, all conditions to the occurrence of the
effective date set forth in the Plan and the Confirmation Order
were satisfied or waived in accordance therewith and the effective
date of the Plan occurred.  On the same date, the Debtors filed a
Notice of Effective Date of the Plan with the Bankruptcy Court.

The Company has filed a Form 15 with the Securities and Exchange
Commission to provide notice of the suspension of its reporting
obligation under Section 12(g) of the Securities Exchange Act of
1934, as amended.  With the filing of the Form 15, the Company
immediately ceased filing any further periodic or current reports
under the Exchange Act.

Pursuant to the Plan, all equity interests in the Company --
including outstanding shares of common stock, options, warrants or
contractual or other rights to acquire any equity interests of the
Company -- were cancelled on the Effective Date, without
consideration and have no value.

Following the effectiveness of the Plan, Meredith M. Graham ceased
to be director and Responsible Officer of the Company, effective
as of the Effective Date.

                      About Furniture Brands

Furniture Brands International (NYSE:FBN) --
http://www.furniturebrands.com-- engaged in the designing,
manufacturing, sourcing and retailing home furnishings. Furniture
Brands markets products through a wide range of channels,
including company owned Thomasville retail stores and through
interior designers, multi-line/ independent retailers and mass
merchant stores.  Its brands include Thomasville, Broyhill, Lane,
Drexel Heritage, Henredon, Pearson, Hickory Chair, Lane Venture,
Maitland-Smith and LaBarge.

The balance sheet at June 29, 2013, showed $546.73 million in
total assets against $550.13 million in total liabilities.

On Sept. 9, 2013, Furniture Brands International, Inc. and 18
affiliated companies sought Chapter 11 protection (Bankr. D. Del.
Lead Case No. 13-12329).

Attorneys at Paul Hastings LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  Alvarez and Marsal
North America, LLC, is the restructuring advisors.  Miller
Buckfire & Co., LLC is the investment Banker.  Epiq Systems Inc.
dba Epiq Bankruptcy Solutions is the claims and notice agent.

The official creditor's committee is comprised of the Pension
Benefit Guaranty Corp., Milberg Factors Inc. and five suppliers.
The Committee tapped Blank Rome LLP as co-counsel, Hahn &
Hessen LLP as lead counsel, BDO Consulting as financial advisor,
and Houlihan Lokey Capital, Inc., as investment banker.

In November 2013, Furniture Brands won bankruptcy court approval
to sell the business to KPS Capital Partners LP for $280 million.
Private-equity investor KPS formed a new company named Heritage
Home Group LLC to operate the business.  Furniture Brands changed
its name to FBI Wind Down, Inc., following the sale.


FURNITURE BRANDS: Rejection & Admin Claims Bar Date Set
-------------------------------------------------------
Following the effective date of FBI Wind Down, Inc., formerly
known as Furniture Brands International, Inc.'s Second Amended
Joint Plan of Liquidation, deadlines for filing certain proofs of
claim have been established.

According to the Notice of Plan Effective Date, all of the
Debtors? executory contracts and unexpired leases will be deemed
rejected as of the Effective Date in accordance with, and subject
to, the provisions and requirements of sections 365 and 1123 of
the Bankruptcy Code, except to the extent (a) the Debtors
previously have assumed, assumed and assigned, or rejected such
executory contract or unexpired lease, (b) prior to the Effective
Date, the Debtors have filed a motion to assume, assume and
assign, or reject an executory contract or unexpired lease on
which the Bankruptcy Court has not ruled, (c) an executory
contract and unexpired lease is identified in the Plan Supplement
as an executory contract or unexpired lease to be assumed or
assumed and assigned pursuant to the Plan, or (d) executory
contracts and unexpired leases under which the counterparty has
consented to the extension of the time by which the Debtors must
assume or reject to a date beyond the Effective Date.  Entry of
the Confirmation Order by the Bankruptcy Court shall constitute
approval of all rejections of executory contracts and unexpired
leases.

If the rejection by the Debtors of an executory contract or an
unexpired lease pursuant to Section 10.1 of the Plan results in
damages to the other party or parties to such executory contract
or unexpired lease, a Claim for such damages arising from such
rejection shall not be enforceable against the Debtors or their
Estates or agents, successors, or assigns, unless a proof of Claim
is filed with the Claims Agent at the following address:

     If by first-class mail:

     FBI Wind Down, Inc. Claims Processing Center
     c/o Epiq Bankruptcy Solutions, LLC
     FDR Station, P.O. Box 5075
     New York, New York 10150-5075

     If by hand delivery or overnight:

     FBI Wind Down, Inc. Claims Processing Center
     c/o Epiq Bankruptcy Solutions, LLC
     757 Third Avenue, 3rd Floor
     New York, New York 10017

A proof of Claim will be deemed timely only if the original proof
of Claim is mailed or delivered by hand, courier or overnight
service so as to be actually received by the Claims Agent on or
before 4:00 p.m. (prevailing Eastern Time) on September 1, 2014.

Proofs of Claim may not be sent by facsimile, telecopy, electronic
mail or other form of electronic transmission. A claimant who
wishes to receive acknowledgement of receipt of its proof of Claim
may submit a copy of the Proof of Claim and a self-addressed,
stamped envelope to the Claims Agent along with the original Proof
of Claim.

Any Person that is required to file a proof of Claim arising from
the rejection of an executory contract or unexpired lease under
the Plan and that fails to timely do so shall be forever barred,
estopped, and enjoined from asserting such Claim, and such Claim
shall not be enforceable against the Liquidating Trust, the
Liquidating Trustee, the Debtors, the Estates, and their
respective properties, and the Liquidating Trust, the Liquidating
Trustee, Debtors, the Estates, and their respective properties
shall be forever discharged from any and all Liability with
respect to such Claim unless otherwise ordered by the Bankruptcy
Court or as otherwise provided herein. All such Claims shall, as
of the Effective Date, be subject to the permanent injunction
pursuant to Section 13.5 of the Plan and the Confirmation Order.

All Persons seeking awards by the Bankruptcy Court of compensation
for services rendered or reimbursement of expenses incurred
through and including the Effective Date under section 330, 331,
503(b)(2), 503(b)(3), 503(b)(4) or 503(b)(5) of the Bankruptcy
Code shall (a) file, on or before the date that is 60 days after
the Effective Date, their respective applications for final
allowances of compensation for services rendered and reimbursement
of expenses incurred and (b) be paid in full, in Cash, in such
amounts as are Allowed by the Bankruptcy Court in accordance with
the order relating to or allowing any such Administrative Expense
Claim.

Holders of Administrative Expense Claims (other than Professional
Fees) accruing from March 1, 2014 through the Effective Date must
file requests for payment of Administrative Expense Claims so as
to be actually received on or before 4:00 p.m. (prevailing Eastern
Time) on September 1, 2014 by the Claims Agent at the following
address:

     If by first-class mail:

     FBI Wind Down, Inc. Claims Processing Center
     c/o Epiq Bankruptcy Solutions, LLC
     FDR Station, P.O. Box 5075
     New York, New York 10150-5075

     If by hand delivery or overnight:

     FBI Wind Down, Inc. Claims Processing Center
     c/o Epiq Bankruptcy Solutions, LLC
     757 Third Avenue, 3rd Floor
     New York, New York 10017

All such requests for payment must: (i) be signed by the claimant
or, if the claimant is not an individual, by an authorized agent
of the claimant; (ii) be written in the English language; (iii)
denominate the claim in lawful currency of the United States as of
the Supplemental Administrative Expense Bar Date; (iv) indicate
the particular Debtor against which the claim is asserted; and (v)
include supporting documentation (or, if such documentation is
voluminous, include a summary of such documentation) or an
explanation as to why such documentation is not available.
The following claims are not required to be filed on or before the
Supplemental Administrative Expense Claims Bar Date:

     (a) Professional Fee Claims;

     (b) any Administrative Expense Claims that (i) have been
previously paid by the Debtors in the ordinary course of business
or otherwise or (ii) have otherwise been satisfied;

     (c) any Administrative Expense Claims previously filed with
Epiq or the Court;

     (d) any Administrative Expense Claim that has been Allowed by
prior order of the Bankruptcy Court;

     (e) any claims by any officer or director of the Debtors
immediately prior to the Effective Date;

     (f) any claims for bonus payments arising under the Key
Employee Incentive Plan approved by order of the Bankruptcy Court
[Docket No. 374];

     (g) any claims by any direct or indirect non-debtor
subsidiary or affiliate of the Debtors;

     (h) any claims for fees payable to the Clerk of this Court;

     (i) any U.S. Trustee Fees; and

     (j) any claim by a governmental unit for a tax or penalty
described in section 503(b)(1)(B) and (C) of the Bankruptcy Code,
as provided for in section 503(b)(1)(D).

Any Person that is required to file a request for payment of an
Administrative Expense Claim under the Plan and that fails to
timely do so shall be forever barred, estopped, and enjoined from
asserting such Administrative Expense Claim, and such
Administrative Expense Claim shall not be enforceable.

For questions about the Plan, the Confirmation Order, the Notice,
or the Effective Date, parties should contact the Debtors' Claims
Agent, Epiq Bankruptcy Solutions, LLC, at (877) 797-6087 (or
outside of the U.S. at (503) 597-7678).

                      About Furniture Brands

Furniture Brands International (NYSE:FBN) --
http://www.furniturebrands.com-- engaged in the designing,
manufacturing, sourcing and retailing home furnishings. Furniture
Brands markets products through a wide range of channels,
including company owned Thomasville retail stores and through
interior designers, multi-line/ independent retailers and mass
merchant stores.  Its brands include Thomasville, Broyhill, Lane,
Drexel Heritage, Henredon, Pearson, Hickory Chair, Lane Venture,
Maitland-Smith and LaBarge.

The balance sheet at June 29, 2013, showed $546.73 million in
total assets against $550.13 million in total liabilities.

On Sept. 9, 2013, Furniture Brands International, Inc. and 18
affiliated companies sought Chapter 11 protection (Bankr. D. Del.
Lead Case No. 13-12329).

Attorneys at Paul Hastings LLP and Young Conaway Stargatt &
Taylor, LLP, serve as counsel to the Debtors.  Alvarez and Marsal
North America, LLC, is the restructuring advisors.  Miller
Buckfire & Co., LLC is the investment Banker.  Epiq Systems Inc.
dba Epiq Bankruptcy Solutions is the claims and notice agent.

The official creditor's committee is comprised of the Pension
Benefit Guaranty Corp., Milberg Factors Inc. and five suppliers.
The Committee tapped Blank Rome LLP as co-counsel, Hahn &
Hessen LLP as lead counsel, BDO Consulting as financial advisor,
and Houlihan Lokey Capital, Inc., as investment banker.

In November 2013, Furniture Brands won bankruptcy court approval
to sell the business to KPS Capital Partners LP for $280 million.
Private-equity investor KPS formed a new company named Heritage
Home Group LLC to operate the business.  Furniture Brands changed
its name to FBI Wind Down, Inc., following the sale.

The Debtors on July 14, 2014, won confirmation of their Second
Amended Joint Plan of Liquidation as filed on July 9, 2014.


GENERAL MOTORS: HMG Files Pre-Bankruptcy Ignition Switch Suits
--------------------------------------------------------------
On July 31, 2014, Texas lawyer Bob Hilliard, one of the nation's
key players in pursuing claims against General Motors for deaths
and injuries caused by faulty ignition switches, filed a lawsuit
on behalf of 156 individuals who were injured or killed in GM's
defective vehicles.

Unlike Hilliard's filing of July 28th, which involved 658 victims
whose accidents occurred after GM emerged from Bankruptcy, and are
not subject to GM's bankruptcy defenses, the July 31 filings are
solely on behalf of victims who died or suffered injuries prior to
GM's filing for Bankruptcy protection due to GM's ignition switch
defect, and will have to defeat GM's claims of bankruptcy
protection.

Mr. Hilliard's lawsuit is filed in the United States Southern
District Court of New York where the General Motors, LLC Ignition
Switch Multi District Litigation (MDL) is currently pending and
names 20 Plaintiffs who are bringing claims on behalf of
individuals who were killed and 136 who were injured.

The July 31 filing represents pre-bankruptcy death and injury
cases that are not eligible to apply for compensation under the
Feinberg Plan due to the restrictive nature of the Fund's vehicle
qualifications.

Mr. Hilliard says, "GM is not allowing victims of the subsequent
15 million vehicles recalled for defective ignition switch issues
to have access to the fund and has told Mr. Feinberg it is
restricting eligibility to only the first 2.4 million vehicles
recalled.  My clients in [Thurs]day's lawsuit were involved in
accidents in vehicles that were ultimately recalled by GM for
defective ignition switch issues."

"By restricting the fund to the first recall, a very small group
of potential claimants, GM sends the clear message that it will
not take responsibility for a majority of the victims who have
suffered because of GM -- the families of the hundreds who have
died or the victims who have been severely injured in subsequently
recalled defective ignition vehicles whose deaths or injuries
occurred prior to 2009."

"General Motors is very publically and proudly sharpening its
Bankruptcy sword and has expressed every intention of wielding it
to inflict yet more injury on those whose lives it has already
devastated."

Mr. Hilliard goes on to state, "There is a ongoing process
beginning in Judge Gerber's bankruptcy court that will ultimately
determine if GM will enjoy full bankruptcy protection in the face
of the many lives it took and the devastating and permanent
injuries it caused.  My clients and I trust this process.  His
Honor, Judge Gerber, who is charged with making this decision, is
well respected by both sides and is well suited for weighing all
the necessary evidence in order to make his ruling."

"My clients understand GM intends to do everything within its
billion-dollar power to prevent their access to the courthouse.
If GM has its way, a jury will never be allowed to hear their
tragic story."

"I join with the best lawyers in the country to do everything in
our power to defeat GM on this crucial issue."

"I again call on Mary Barra to either drop this outrageously
unfair bankruptcy dodge, or quit telling the world GM is committed
to treating the victims fairly and with compassion."

"GM's brutally callous actions in trying to use its bankruptcy
boot to kick these victims off the courthouse steps drown out the
hollow and untrue platitudes that its CEO keeps repeating."

"What GM is doing speaks so loudly that the World can no longer
hear what Mary Barra says."

Mr. Hilliard has filed a request with Judge Furman to lead the
MDL's national personal injury and death litigation.

The case is Edwards, et al. v. General Motors, LLC in the Southern
District of New York.

                           About HMG

Hilliard Munoz Gonzales LLP (HMG) -- http://www.hmglawfirm.com/--
specializes in mass torts, personal injury, product liability,
commercial and business litigation, and wrongful death. Hilliard
Munoz Gonzales LLP has been successfully representing clients in
the United States and Mexico since 1986.  Bob Hilliard obtained
the Largest Verdict in the country in 2012 and the #1 verdict in
Texas in 2013.

HMG is actively seeking to represent other victims of GM's
defective vehicles.

                       About General Motors

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

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

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

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

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

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


GETTY IMAGES: Bank Debt Trades at 4% Off
----------------------------------------
Participations in a syndicated loan under which Getty Images Inc.
is a borrower traded in the secondary market at 96.26 cents-on-
the-dollar during the week ended Friday, Aug. 1, 2014, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 0.41
percentage points from the previous week, The Journal relates.
Getty Images Inc. pays 350 basis points above LIBOR to borrow
under the facility.  The bank loan matures on Oct. 14, 2019, and
carries Moody's B2 rating and Standard & Poor's B rating.  The
loan is one of the biggest gainers and losers among 205 widely
quoted syndicated loans with five or more bids in secondary
trading for the week ended Friday.


GFI GROUP: Merger Plans Cues Fitch to Put BB- Ratings on Watch Pos
------------------------------------------------------------------
Fitch Ratings has placed GFI Group Inc.'s long-term Issuer Default
Rating (IDR) and senior unsecured debt rating of 'BB-' on Rating
Watch Positive.

The rating action follows the announcement that CME Group (CME)
will be acquiring GFI's Trayport and Fenics businesses in a two-
step transaction. The transaction will be effected through a
merger of GFI and CME and a concurrent acquisition of the
wholesale brokerage business by an entity controlled by the
private consortium of GFI management. CME will also assume GFI's
$240 million in senior debt outstanding. The transaction is
expected to close no later than first quarter of 2015, subject to
shareholder and regulatory approvals.

Key Rating Drivers - IDRS And Senior Debt

The Positive Watch reflects the expected assumption of all of
GFI's debt by CME. Fitch does not rate CME, but views it as having
a materially lower credit risk profile than GFI, based on CME's
dominant market position, strong profitability (69% EBITDA margin
as of March 31, 2014), low cash flow leverage (1.0x gross debt-to-
EBITDA) and solid interest coverage (16.0x EBITDA-to-interest
expense).

As of March 31, 2014, GFI had $250 million of debt outstanding,
with $240 million of senior notes due July 2018, and $10 million
of draws on its bank credit facility. GFI is expected to repay $10
million of bank borrowings before the transaction closes. The $240
million senior notes have a change of control provision and are
expected to be repaid by CME following the transaction close in
2015.

Rating Sensitivities - IDRS And Senior Debt

Fitch expects to resolve the Rating Watch following the close of
the transaction, which is expected to be sometime in first quarter
of 2015. Ratings could be upgraded based upon Fitch's evaluation
of CME. Ratings could also be withdrawn if Fitch is unable to
evaluate CME's credit profile.

If the transaction fails to close, Fitch believes this would call
into question the long-term viability of the business on a stand-
alone basis, and therefore could result in a multi-notch rating
downgrade. Potential pressure on existing covenant compliance
under the bank credit facility would further support this view.

Fitch places the following ratings on Rating Watch Positive:

GFI Group Inc.

-- Long-term IDR 'BB-';
-- Short-term IDR 'B';
-- Senior unsecured debt 'BB-'.


GMAC MORTGAGE: 10th Cir. Affirms Ruling in "McKinsey" Suit
----------------------------------------------------------
Michael and Deborah McKinsey, appearing pro se, appeal a district
court order that dismissed in part, and stayed in part, their
claims against several financial institutions arising out of the
foreclosure of their home, and denied their motion for default
judgment against several of the defendants.  Ms. McKinsey also
appeals the ruling in that same order denying her motion for a
temporary restraining order and preliminary injunction.  In a July
31, 2014, Order and Judgment available at http://is.gd/BZxwWGfrom
Leagle.com, a three-judge panel of the U.S. Court of Appeals,
Tenth Circuit, affirmed.  "We affirm the district court's denial
of Ms. McKinsey's motion for injunctive relief, and we dismiss the
remainder of the appeal for lack of jurisdiction," the Tenth
Circuit said.  The panel consists of Circuit Judges Scott M.
Matheson, Jr., John C. Porfilio, and Gregory A. Phillips.

The case is, MICHAEL R. MCKINSEY; DEBORAH E. MCKINSEY, Plaintiffs-
Appellants, v. GMAC MORTGAGE, LLC; DEUTSCHE BANK NATIONAL TRUST
COMPANY AMERICAS, as trustee for securitized trust Harborview
Mortgage Loan Trust Mortgage Loan Pass-Through Certificates,
Series 2006-14; WELLS FARGO BANK, N.A.; Defendants-Appellees.
BANK UNITED, FSB; PUBLIC TRUSTEE OF GUNNISON COUNTY, COLORADO; ALL
UNKNOWN PERSONS WHO CLAIM ANY INTEREST IN THE SUBJECT MATTER OF
THIS ACTION, Defendants, No. 13-1335 (10th Cir.).

                     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.


GOLDEN LAND: Receiver, Creditor Seek Bar Dates
----------------------------------------------
Lawrence Litwack, Receiver, and secured creditor 37 Avenue Realty
Associates have requested that Bar Dates be set in the chapter 11
case of Golden Land LLC which is pending in the Bankruptcy Court
for the Eastern District of New York.  Litwach and 37 Avenue are
also seeking approval of their proposed claim form and notice
procedures.  This case is a single asset real estate case, and the
Debtor's condominium complex, American-Chinese Tower Condominium,
was scheduled for foreclosure auction the day after the Debtor
filed its chapter 11 petition on May 8, 2014.  To date, the
Receiver has identified three creditors and various taxing
authorities which have claims against the estate.  The Receiver
does not anticipate the filing of additional claims.

The Receiver and 37 Avenue requested that a general Bar Date of
September 30, 2014 and a governmental entity Bar Date of March 31,
2015 be set.  Additionally, the Receiver and 37 Avenue request
that claims be filed electronically, by mail, or by hand-delivery
with no facsimile or e-mail claims being permitted.  In addition
to claim notices being mailed to known creditors, the Receiver
intends to publish the Notice in a newspaper of general
circulation in Queens, NY.

Tracy L. Klestadt, Esq. and Brendan M. Scott, Esq. at Klestadt and
Winters, LLP of New York, NY represent 37 Avenue.  Lawrence
Litwack is located in Baytown, NY.

A hearing has been set for August 7.

Golden Land LLC filed for Chapter 11 bankruptcy protection (Bankr.
E.D.N.Y. Case No. 14-42315) in Brooklyn, New York, on May 8, 2014.
The Debtor estimated assets and debt of $10 million to $50
million.  Xiangan Gong, Esq., at Xiangan Gong serves as the
Debtor's counsel.  Judge Nancy Hershey Lord presides over the
case.

Lawrence Litwack is the Receiver of the Debtor's property.


GOLDEN LAND: Receiver, Creditor Seek to End Exclusive Periods
-------------------------------------------------------------
Lawrence Litwack, Receiver, and secured creditor 37 Avenue Realty
Associates have requested that Golden Land LLC's exclusive period
to file a Plan of Reorganization be terminated so that the estate
may be liquidated without delay. The movants contend that since
the petition date, the Debtor has done nothing to move the case
forward.  The Receiver has been operating and maintaining the
Debtor's Condominium complex since approximately one year prior to
the petition date.  The Debtor failed to file the required
schedules, list of creditors, and statement of financial Affairs
in this case until the Court issued a Show Cause Order.  Neither
the Debtor nor its attorney appeared at the June 26th status
conference, nor the Sec. 341 creditor's meeting. Such inaction is
the norm for the Debtor as it failed to participate in or appear
in the state court foreclosure proceeding that pre-dates the
filing of its chapter 11 petition.  Because the Debtor has done
nothing in the case since filing its petition, the movants contend
that "cause" exists for terminating the exclusive period pursuant
to Sec. 1121(d) of the Bankruptcy Code.

A hearing has been scheduled for August 7th before Hon. Nancy
Hershey Lord.

Golden Land LLC filed for Chapter 11 bankruptcy protection (Bankr.
E.D.N.Y. Case No. 14-42315) in Brooklyn, New York, on May 8, 2014.
The Debtor estimated assets and debt of $10 million to $50
million.  Xiangan Gong, Esq., at Xiangan Gong serves as the
Debtor's counsel.  Judge Nancy Hershey Lord presides over the
case.

Lawrence Litwack is the Receiver of the Debtor's property.


GOOD SHEPHERD: S&P Retains 'BB+' Rating on CreditWatch Negative
---------------------------------------------------------------
Standard & Poor's Ratings Services' 'BB+' long-term rating and
underlying rating (SPUR) on Good Shepherd Health System, Texas'
(Good Shepherd, or GSHS) bonds remain on CreditWatch with negative
implications.

The CreditWatch designation reflects S&P's view of the forbearance
agreements signed on July 25, 2014, with Wells Fargo Municipal
Capital Strategies LLC and JPMorgan Chase Bank N.A.  The
forbearance period extends to noon (Central Time) Dec. 31, 2014.

"While the forbearance agreements provide GSHS with additional
time to complete asset sales and further the system's turnaround
initiatives, we continue to believe that the system faces
significant credit risks, including the risk acceleration if
individual elements of its turnaround plan prove unsuccessful,"
said Standard & Poor's credit analyst Karl Propst.  "We will
further evaluate the system's credit risks at key milestones, such
as at the system's Sept. 30, 2014, fiscal year-end and on Oct. 15,
2014, when the asset sales are expected to be finalized,"
continued Mr. Propst.

Standard & Poor's rating action applies to Gregg County Health
Facilities Development Corp., Texas' series 2012C, 2002B, and
2006A bonds, and to Harrison County Health Facilities Development
Corp., Texas' series 2010A bonds.

Good Shepherd's total long-term debt outstanding at June 30 was
$184 million.


GREEN MOUNTAIN: Seeks to Reject Selwood Contract
------------------------------------------------
Green Mountain Management, LLC, et al., seek authority from the
U.S. Bankruptcy Court for the Northern District of Georgia,
Atlanta Division, to reject the contract between Green Mountain
and Michael J. Selwood, who was retained to provide financial and
operational services prior to the Petition Date.

In support of their request, the Debtors state, "In light of the
large expense of employing Mr. Selwood ($20,000 a month) and Mr.
Selwood's requested resignation, Debtors have decided, in their
reasonable business judgment, to reject the Contract.  The
Contract is of no value to the Debtors' estates and the assumption
of the same would only impose unnecessary administrative
obligations on the estates.  The Debtors have therefore determined
that it is reasonable and in the best interest of their estates to
reject the Contract in order to effectuate their reorganization.
Further, rejecting the Contract nunc pro tunc to the Rejection
Date is essential to preserving the value of Debtors' estates by
avoiding unnecessary and unbeneficial post-petition expenses that
Mr. Selwood may assert."

Green Mountain Management, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ga. Case No. 14-64287) on July 25, 2014.
The petition was signed by Daniel B. Cowart, sole member of
Georgia Flattop Partners, LLC, and chairman of Green Mountain
Management, LLC.

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.

The case is assigned to Judge Barbara Ellis-Monro.

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


GREEN MOUNTAIN: Seeks Authority to Use UMB Bank Cash Collateral
---------------------------------------------------------------
Green Mountain Management, LLC, et al., seek authority from the
U.S. Bankruptcy Court for the Northern District of Georgia,
Atlanta Division, to use cash collateral in which UMB Bank, N.A.,
as indenture trustee, asserts that it has a security interest, and
provide adequate protection on account of the cash collateral use.

Green Mountain is party to a Mortgage and Trust Indenture, dated
Aug. 1, 2010, with The Solid Waste Disposal Authority of the city
of Adamsville, as "Issuer," and UMB Bank as "Trustee."  Pursuant
to the Trust Indenture, the Issuer issued its $17,000,000 Solid
Waste Disposal Revenue Bonds, Series 2010, to finance the
acquisition, construction and equipping of a solid waste disposal
facility, including the underlying real property.  As of the
Petition Date, the outstanding principal balance due under the
Bonds remained $17,000,000.

The Cash Collateral will be used by the Debtors to fund their
operations.  Without the use the Cash Collateral, Debtors will
have little choice but to terminate or suspend all operations and
dismiss employees, thus destroying the value of their business
during the pendency of the bankruptcy cases.

Green Mountain Management, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ga. Case No. 14-64287) on July 25, 2014.
The petition was signed by Daniel B. Cowart, sole member of
Georgia Flattop Partners, LLC, and chairman of Green Mountain
Management, LLC.

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.

The case is assigned to Judge Barbara Ellis-Monro.

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


HOFFNER'S NURSERY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Hoffner's Nursery, Inc.
        104 Tree Farm Road
        Sebring, FL 33875

Case No.: 14-08915

Chapter 11 Petition Date: July 31, 2014

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

Debtor's Counsel: Matthew J Kovschak, Esq.
                  MATTHEW J. KOVSCHAK PA
                  PO Box 989
                  Bartow, FL 33831-0989
                  Tel: 863-285-6808
                  Email: mjkovschak@aol.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jodi Hoffner, authorized individual.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flmb14-08915.pdf


IMH FINANCIAL: Restructures Debt; Appoints New Board Members
------------------------------------------------------------
IMH Financial Corporation entered into a series of agreements and
transactions in connection with the refinancing of the senior
secured convertible loan originally extended to the Company by
NWRA Ventures I, LLC, on June 11, 2011.

The Refinancing was generally comprised of three core components:

   (1) a $26.4 million convertible preferred equity tranche, led
       by Singerman Real Estate, LLC, and Juniper Capital
       Partners, LLC;

   (2) a $13.8 million contribution by the Company from its cash
       reserves; and

   (3) a restructuring of the existing senior loan with NWRA,
       which among other things, removed the loan's equity
       conversion rights and permits its payoff at $45 million.

In addition, as part of the Refinancing, the Company acquired into
treasury, 319,484 shares of its common stock, which had previously
been held by an affiliate of NWRA.

The Company believes the Refinancing will provide for significant
savings related to future interest expense, consulting fees and
other related costs, and will ultimately allow the Company to
borrow funds and obtain future financing on more favorable terms.

As part of the convertible preferred equity tranche, the Company
issued and sold 5,595,148 shares of Series B-2 Preferred Stock to
an affiliate of Singerman Real Estate, an experienced real estate
investment firm that invests in both public and private companies.
"Our company specializes in unlocking embedded value through
ownership of real estate and real estate related assets,"
Singerman Real Estate President Seth Singerman said.  "We believe
that IMH is well-positioned for significant growth in relation to
its legacy assets and through the prudent allocation of capital
into future investments.  We look forward to working with the IMH
team to help further facilitate that growth."

Additionally, the Company issued a total of 2,604,852 shares of
Series B-1 Preferred Stock to affiliates of Juniper.  "Juniper
first became involved with IMH in 2011, as an investor in the
original NWRA loan," Juniper Managing Member Jay Wolf said.
"Since that time, our confidence in the Company has grown
substantially.  Although the refinancing transaction provided
Juniper with the option to be fully paid out on its original
investment, we elected to reinvest our entire position into the
new preferred equity.  We believe the Company's new capital
structure will provide it with improved economic efficiencies and
greater flexibility to grow its business.  We very much look
forward to being a part of IMH's future."

In concert with the Refinancing, there were certain changes to the
IMH executive team.  Effective on the closing of the Refinancing,
William Meris resigned as the Company's chief executive officer
and president.  Effective the same date, the Company appointed
Lawrence D. Bain to serve as the Company's new chief executive
officer.

Mr. Bain has served as the Company's lead strategic consultant for
the past five years with responsibilities relating to, among other
things, asset recovery and disposition, guarantor enforcement and
collection, capital formation, legal strategy, and underwriting.
During that time, Mr. Bain was instrumental in advising the
Company on the structuring and implementation of a majority of the
Company's material corporate initiatives.  The Company believes
that Mr. Bain's in-depth knowledge of its business and its assets,
coupled with his 35 years of financial industry and investment
experience, will position him to help the Company drive future
profitability and growth in shareholder value.

The Company has also increased the Board of Directors from two
members to seven members, and in addition to electing Mr. Bain to
serve as Chairman of the Board of Directors, has elected Messrs.
Singerman and Wolf to the Board of Directors, along with
Independent Directors Leigh Feuerstein, Andrew Fishleder, M.D.,
Michael M. Racy, and Lori Wittman.  Mr. Meris and Steven Darak,
the Company's chief financial officer, resigned from the Board of
Directors.  Mr. Darak will continue to serve as the Company's
Chief Financial Officer.

Additional information regarding the Refinancing and related
transactions is available for free at http://is.gd/QAI2gi

                        About IMH Financial

Scottsdale, Ariz.-based IMH Financial Corporation was formed from
the conversion of IMH Secured Loan Fund, LLC, or the Fund, a
Delaware limited liability company, on June 18, 2010.  The
conversion was effected following a consent solicitation process
pursuant to which approval was obtained from a majority of the
members of the Fund to effect the Conversion Transactions and
involved (i) the conversion of the Fund from a Delaware limited
liability company into a Delaware corporation named IMH Financial
Corporation, and (ii) the acquisition by the Company of all of the
outstanding shares of the manager of the Fund Investors Mortgage
Holdings Inc., or the Manager, as well as all of the outstanding
membership interests of a related entity, IMH Holdings LLC, or
Holdings on June 18, 2010.

IMH Financial reported a net loss of $26.20 million in 2013, a net
loss of $32.19 million in 2012 and a net loss of $35.19 million in
2011.

The Company's balance sheet at March 31, 2014, showed $224.76
million in total assets, $121.75 million in total liabilities,
$5.28 million in fair value of puttable shares pursuant to legal
settlement, and $97.72 million in total stockholders' equity.


INTERNATIONAL MARKETS: S&P Assigns 'B' Corp. Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to International Markets Centers Inc. and its
operating subsidiary, IM OP L.P. (collectively IMC).  The outlook
is stable.

At the same time, S&P assigned a 'BB-' issue-level rating and a
'1' recovery rating to the private REIT's proposed $405 million
first-lien senior secured term loan, a 'BB-' rating and '1'
recovery rating to the revolving credit facility, and a 'B-'
issue-level and '5' recovery rating to the company's proposed $125
million second-lien term loan.  The company will use proceeds from
the proposed term loans to refinance its existing mortgage debt.

"The ratings on IMC reflect our assessment of the company's
business risk profile as 'weak'," said Standard & Poor's credit
analyst Jaime Gitler.  The company is the largest owner of real
estate in the niche furniture showroom subsector, with 16
buildings located in High Point, N.C., and Las Vegas.  While the
company has a leading position in this narrow subsector, it is
among the smallest REITs that we rate.  Also, IMC's furniture
tenants are highly reliant on end-user demand from consumers, and
furniture sales are tied closely to home turnover, which has been
very low over the past few years.  We view the company's financial
risk profile as "highly leveraged."  S&P expects that debt to
EBITDA will hover around 6.5x and debt to undepreciated capital
will range between 60% and 65%.  Although leverage and coverage
measures appear materially stronger than "highly leveraged," S&P's
opinion takes into consideration the company's ownership as a
sponsored private-equity entity.  S&P's assessment also takes into
consideration the nature of the business, which is more akin to an
operating business than is the case for other rated REITs.

Formed in 2011, with the backing of private equity sponsors Bain
Capital and Oaktree Capital, Las Vegas-based IMC owns 11.4 million
square feet in two markets: High Point, N.C., and Las Vegas.  The
company's buildings cater to the furniture, home decor, and gift
industries by hosting "market" weeks four times per year (twice in
each market) which serve as a business-to-business gathering where
manufacturers exhibit their wares to buyers, who see the latest
industry offerings and plan future inventory stocking.  Tenants
(those with known revenues) typically pay on average about 1% to
2% of total annual sales for their exhibition space, and in some
cases invest significant dollars building out their showrooms
because a large portion of annual tenant sales are booked at these
market events.  This supports relatively high tenant renewal rates
of more than 80%.

High Point has served as the key furniture manufacturing market in
the U.S. for decades and the company's properties have a history
of general stability.  The Las Vegas properties were constructed
in the mid-2000s to compete with the more established High Point
market, but operating performance suffered greatly during the
financial crisis and the properties entered foreclosure
proceedings.  IMC acquired the properties at a substantial
discount to cost (50%) during the financial crisis with the goal
of creating distinct East and West Coast market events in their
respective geographies.  IMC's intent in amassing a large portion
of the class A space in High Point was to garner more pricing
power and reduce irrational pricing that had been prevalent in the
market.  S&P expects that rental rates in High Point will be
stable to modestly up over the next few years.  S&P also expects
that occupancy will increase in the Las Vegas properties over the
next several years with rents bottoming in 2014.

The outlook is stable.  IMC's operating performance has improved
as occupancy at its Las Vegas properties has strengthened
considerably over the past year.  S&P expects occupancy and rents
will grow further over the next two years as demand from furniture
tenants continues to recover subsequent to the great recession.
While S&P expects credit measures are stronger than similarly
rated peers, its rating on the company is constrained by private-
equity ownership.

While unlikely in the near term, S&P could raise its ratings if
the private-equity sponsors were to sell their stake down below a
majority position, the company's debt stack transitions to largely
fixed rate, and if operating performance from the Las Vegas
properties strengthens such that S&P believes the company creates
a  viable West Coast showroom market.

S&P could lower the ratings if the company's operating performance
meaningfully stumbles which could occur if tenant demand
deteriorates or a wave of consolidation hits the industry
weakening occupancy and rental rates.


ISR GROUP: Hearing to Consider Plan Outline Approval on Sept. 11
----------------------------------------------------------------
The Bankruptcy Court for the Western District of Tennessee will
hold a hearing on Sept. 11, 2014, at 11:00 a.m. to consider the
approval of ISR Group, Incorporated's Disclosure Statement with
respect to the Plan of Liquidation.

On May 9, 2014, the Court gave the Debtor until Aug. 27, 2014, to
file the Plan and Disclosure Statement.  The Debtor filed on
July 17, 2014, the Disclosure Statement, a copy of which is
available for free at:

           http://bankrupt.com/misc/ISRGROUP_210_ds.pdf

The Plan is the product of negotiations with various stakeholders
in the Debtor, including TCFI and the Committee.  Substantially
all of the Debtor's assets have been sold through a private sale
process overseen by the Court.  The proceeds will be distributed
to the holders of allowed claims in the priority and manner set
forth in the Plan.

Each holder of an allowed priority tax claim, in full
satisfaction, will receive (a) cash in an amount equal to the
allowed amount of the priority tax claim on the effective date,
(b) to the extent the claim is not due and owing on the effective
date, cash in an amount equal to the allowed amount of the
Priority Tax Claim as and when due under applicable non-bankruptcy
law, or (c) other treatment as is acceptable to the Debtor and the
holder of the claim.

Class 1 - DIP Loan Claim, Class 3 - IRS Tax Claims, Class 4 -  TDR
Tax Claim, and Class 6 - TCFI Secured Claim are unimpaired.  The
DIP Loan Claim and the TCFI Secured Claim have been satisfied in
full under the terms of the sale order.  Class 2 - Priority Wage
Claims, Class 5 - Miscellaneous Secured Claims, Class 7 - General
Unsecured Claims, and Class 8 - interests in the Debtor are
impaired.

Holders of Priority Wage Claims, $32,757 in TDR Tax Claim, and
$5.65 million IRS Tax Claim will, in full satisfaction, be paid in
(i) cash, or (ii) other, less favorable treatment to which the
holders and the Debtor, the liquidation trustee -- to be named in
a plan supplement -- or the advisory committee agree in writing.
The Debtor believes the IRS Tax Claim is significantly overstated
and that it will be significantly reduced or eliminated either by
agreement or final court order.

Each of the Priority Wage Claim will be allowed in the amount set
forth in a priority wage claim schedule.  Any portion of a
Priority Wage Claim that exceeds the amount set forth in the
schedule will be treated as a Class 7 General Unsecured Claim
against the Debtor.

Any Allowed Miscellaneous Secured Claim that is senior to the TCFI
Secured Claim will be satisfied in accordance with the terms of
the sale order.  Any Allowed Miscellaneous Secured Claim that is
junior to the TCFI Secured Claim will be treated as a Class 7
General Unsecured claim.

Each holder of an Allowed General Unsecured claim will receive, in
full satisfaction, a Pro Rata share of the liquidation trust
assets.  The liquidation trust asset include the buyer EBITDA
contribution.  Any portion of an Allowed General Unsecured Claim
that consists of statutory damages will be subordinated to all
other Allowed General Unsecured Claims.  Holders of Allowed
General Unsecured Claims including statutory damages will get no
distribution on account of the statutory damages unless and until
all other Allowed General Unsecured Claims have been paid in full.
Holders of Allowed General Unsecured claims including statutory
damages must be paid in full with interest at the federal funds
rate in effect as of the effective date prior to any distribution
to the buyer.

Interests in the Debtor will be deemed canceled and extinguished
as of the dissolution date.  The holders won't receive any
distributions under the Plan on account of their interests.

The Plan contemplates the rejection of all excluded contracts as
of the effective date.  Any rejection claim arising from the
rejection of an excluded contract will be treated as a general
unsecured claim pursuant to the Plan.

Court Okays Amended Sale Motion

On June 17, 2014, the Court entered an order granting the amended
motion for authorization of the sale of substantially all of the
Debtor's assets free and clear of claims, liens, and encumbrances,
to TCFI IG LLC.

On June 4, 2014, the Debtor filed an amended motion for entry of
an order approving the sale.  A hearing on the amended sale motion
was set for June 12, 2014.  A copy of the amended sale motion is
available for free at:

         http://bankrupt.com/misc/ISRGROUP_132_sale.pdf

The Asset Purchase Agreement provides for the acquisition
consideration detailed in Section 2.6 of the APA, which includes,
inter alia, (i) a credit bid of $18.39 million, consisting of the
principal and estimated interest, costs, fees, charges, or other
obligations accrued and unpaid under the Credit Agreement and DIP
Credit Agreement; (ii) a cash payment of $374,769.91, provided
that the cash will be used exclusively for payments to creditors
with unsecured priority claims under Sections 507(a)(4) and
507(a)(5) of the Bankruptcy Code; and (iii) the assumption of
certain liabilities.  In addition, the Purchaser has agreed to
provide additional consideration to the Debtor and its estate as
set forth in Debtor's motion pursuant to Section 105 and
Bankruptcy Rule 9019 to approve global settlement agreement.

The APA constitutes the highest and best offer for the acquired
assets, and will provide a greater recovery for the Debtor's
estate than would be provided by any other available alternative.

The Purchaser is represented by:

      Ian T. Peck, Esq.
      Haynes And Boone, LLP
      201 Main Street, Suite 2200
      Fort Worth, Texas 76102
      Tel: (817) 347-6613
      Fax: (817) 348-2350
      E-mail: ian.peck@haynesboone.com

On May 13, 2014, the Debtor first filed its motion for
authorization to sell its assets.  The Stalking Horse Bidder
proposed to acquire the Acquired Assets for (i) a credit bit of
$18.21 million, consisting of the principal and estimated
interest, costs, fees, charges, or other obligations accrued and
unpaid under the loan agreement, dated as of March 28, 2012, by
and among PNC Bank, the Debtor, and ISR Group Holdings, Inc., and
DIP financing amendment and first amendment to loan agreement;
(ii) a cash payment of $300,000, provided that the cash will be
used exclusively for payments to creditors with unsecured priority
claims under Sections 507(a)(4) and 507(a)(5)
of the Bankruptcy Code who agree to work for Purchaser after the
Closing on terms satisfactory to Purchaser; and (iii) the
assumption of certain liabilities.  The hearing to consider the
first sale motion was set for May 29, 2014.  A copy of the motion
is available for free at:

           http://bankrupt.com/misc/ISRGROUP_67_sale.pdf

On May 29, 2014, Samuel K. Crocker, the U.S. Trustee for Region 8,
objected to the first sale motion, claiming that the Debtor hadn't
demonstrated that a sound business purpose dictates that the
proposed sale be approved, and didn't demonstrate the adequacy of
pre- or post-petition efforts to market a sale of the Debtor's
assets.  The U.S. Trustee added that, among other things, the
Debtor hadn't demonstrated how it computed what credit-bid amount
would be appropriate.  The motion proposed that the stalking horse
bidder, the current holder of the secured indebtedness, be allowed
to credit-bid $18.21 million.

The Court issued on June 13, 2014, an order withdrawing the
Debtor's May 21, 2014 expedited motion for authorization to pay
third-party data hosting vendor in connection with the sale of the
Debtor's assets.  The Debtor had requested that the Court enter an
order authorizing the Debtor to pay Intralinks, Inc., to host
certain data online in connection with the sale of the Debtor's
assets for three months for $3,500.  The Court had set for May 29,
2014, the hearing to consider the motion.

Settlement Okayed

On June 17, 2014, the Court approved the Debtor's global
settlement agreement with the Committee, the Debtor's secured
lender, and the U.S. Trustee.  A copy of the settlement is
available for free at:

    http://bankrupt.com/misc/ISRGROUP_137_globalagreement.pdf

The Debtor sought on June 6, 2014, court approval for its
settlement agreement, which will avoid the expense, delay, and
distraction of litigation over the relevant questions of law and
fact.  Given the limited resources of the Debtor's estate,
litigation over these issues will not benefit the estate or its
creditors, the Debtor stated in its motion.  Absent the
settlement, the Debtor may be required to litigate with the
Committee and the U.S. Trustee.  The Debtor's major creditor
constituencies support the settlement, and the settlement will
move the Debtor forward in selling its assets and confirming the
Plan.  A hearing was set for June 12, 2014, to consider the
approval of the settlement.

                          About ISR Group

ISR Group, Incorporated, filed a Chapter 11 bankruptcy petition
(Bankr. W.D. Tenn. Case No. 14-11077) on April 29, 2014.  John
Stuecheli signed the petition as chief restructuring officer.
The Debtor estimated $10 million to $50 million in assets and
liabilities.  Franklin Childress, Jr., Esq., at Baker Donelson
Bearman, serves as the Debtor's counsel.  Judge Jimmy L Croom
presides over the case.


J.A.D HOSPITALITY: Case Summary & 4 Unsecured Creditors
-------------------------------------------------------
Debtor: J.A.D Hospitality, LLC
           dba Cloverdale Oaks Inn
        123 S. Cloverdale Blvd
        Cloverdale, CA 95425

Case No.: 14-11128

Chapter 11 Petition Date: July 31, 2014

Court: United States Bankruptcy Court
       Northern District of California (Santa Rosa)

Judge: Hon. Alan Jaroslovsky

Debtor's Counsel: Kayla Grant, Esq.
                  GALANTI AND COPENHAVER, INC.
                  1180 4th St.
                  Santa Rosa, CA 95404
                  Tel: (707) 538-6074
                  Email: kayla@galantilawgroup.com

Total Assets: $663,220

Total Liabilities: $1.06 million

The petition was signed by Jayendra A. Patel, managing member.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/canb14-11128.pdf


JACKSONVILLE BANCORP: Regains Compliance with NASDAQ Rule
---------------------------------------------------------
Jacksonville Bancorp, Inc., on July 31, 2014, received written
notice from the Listing Qualifications staff of The Nasdaq Stock
Market stating that the Company had not been in compliance with
Nasdaq Listing Rule 5605(d)(2), which requires that the Company
maintain a compensation committee comprised solely of independent
directors.  The Notice was prompted by the service of the
Company's director, Price W. Schwenck, on the Company's
Organization and Compensation Committee since September 2013.
When the Company became aware of the noncompliance, it took action
immediately, and Mr. Schwenck resigned from the Compensation
Committee on July 31, 2014.  In the same Notice, the Nasdaq
Listing Qualifications staff confirmed that the Company regained
compliance with the Nasdaq Listing Rule 5605(d)(2) as a result of
Mr. Schwenck's resignation, and advised that the matter is now
closed.  The Company is currently compliant with Nasdaq's
compensation committee composition requirements.

                     About Jacksonville Bancorp

Jacksonville Bancorp, Inc., a bank holding company, is the parent
of The Jacksonville Bank, a Florida state-chartered bank focusing
on the Northeast Florida market with eight full-service branches
in Jacksonville, Duval County, Florida, as well as the Company's
virtual branch.  The Jacksonville Bank opened for business on
May 28, 1999, and provides a variety of community banking services
to businesses and individuals in Jacksonville, Florida.

Jacksonville Bancorp reported a net loss available to common
shareholders of $32.42 million on $22.93 million of total interest
income for the year ended Dec. 31, 2013, as compared with a net
loss available to common shareholders of $43.04 million on $26.25
million of total interest income for the year ended Dec. 31, 2012.
The Company reported a net loss available to common shareholders
of $24.05 million in 2011.  The Company's balance sheet at
March 31, 2014, showed $496.77 million in total assets, $462.27
million in total liabilities and $34.50 million in total
shareholders' equity.


JACOBS FINANCIAL: Malin Bergquist Resigns as Accountant
-------------------------------------------------------
Malin, Bergquist & Company, LLP, resigned from Jacobs Financial
Group, Inc., effective July 17, 2014, as its independent
registered public accounting firm as a result of a merger.  The
Board of  Directors of the Company accepted Malin's resignation.

Neither the report of Malin for the years ended May 31, 2011, and
2012, contained an adverse opinion or disclaimer of opinion,  or
was qualified or modified as to uncertainty, audit scope or
accounting principles, except that the Company's audited
financial statements in its Form 10-K for the years ended May 31,
2011 and 2012 contained a going concern qualification.  The
Company has had no disagreements with Malin, whether or not
resolved, on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure,
which, if not resolved to Malin's satisfaction would have caused
them to make reference to the subject  matter of the  disagreement
in connection with their reports on the financial statements.

The Company has engaged EKS&H LLLP as its independent registered
public accountant.  The engagement was approved by the Company's
Board of Directors on July 29, 2014.  EKS&H will provide audit and
review services, including the immediate audit of the  Company's
financial statements and schedules supporting the financial
statements which will be included in a proposed Form
10-K filing for the fiscal year ended May 31, 2013.

                        About Jacobs Financial

Jacobs Financial Group, Inc. (OTC Bulletin Board: JFGI) is a
Charleston, West Virginia-based holding company for First Surety
Corporation, a West Virginia domiciled surety, Triangle Surety
Agency, an insurance agency that specializes in coal reclamation
surety bonds, and Jacobs & Company, a registered investment
advisor.

Jacobs Financial reported a net loss of $1.10 million for the year
ended May 31, 2012, compared with a net loss of $1.30 million
during the prior fiscal year.  The Company's balance sheet at
Feb. 28, 2013, showed $8.63 million in total assets, $17.17
million in total liabilities, $1.89 million in total mandatorily
redeemable convertible preferred stock, and a $10.43 million total
stockholders' deficit.

In the auditors' report accompanying the consolidated financial
statements for the year ended May 31, 2012, Malin, Bergquist &
Company, LLP, in Pittsburgh, PA, noted that the Company's
significant net working capital deficit and operating losses raise
substantial doubt about its ability to continue as a going
concern.


JAMES RIVER: Proofs of Claim Deadline Set for Sept. 22
------------------------------------------------------
Creditors of James River Coal Company must file their proofs of
claims not later than Sept. 22, 2014 at 5:00 p.m.

Furthermore, the deadline for Government Units to file their
proofs of claim is set for Oct. 6, 2014.

Proofs of claim must be sent to:

          The James River Coal Company Claims Processing Center
          c/o Epiq Bankruptcy Solutions LLC
          FDR Station, PO Box 5015 New York
          New York 10150-5015

                       About James River

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

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

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

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

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

                          *     *     *

The Debtors have been granted an extension of their exclusive plan
filing period through Nov. 12, 2014, and their exclusive
solicitation period through Jan. 12 next year.


KEMET CORP: Files Form 10-Q, Incurs $3.5MM Net Loss in Q2
---------------------------------------------------------
Kemet Corporation filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $3.54 million on $212.88 million of net sales for the quarter
ended June 30, 2014, as compared with a net loss of $35.14 million
on $202.05 million of net sales for the quarter ended June 30,
2013.

The Company's balance sheet at June 30, 2014, showed $838.64
million in total assets, $620.39 million in total liabilities and
$218.25 million in total stockholders' equity.

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

                        http://goo.gl/ZzfK28

Kemet filed a Form S-8 with the SEC to register 2,600,000 shares
of common stock issuable under the Company's 2014 Amendment and
Restatement of the KEMET Corporation 2011 Omnibus Equity Incentive
Plan.  The proposed maximum aggregage offering price is $13.07
million.  The Plan was approved by the board of directors of the
Company on April 30, 2014, and by the stockholders of the Company
on July 24, 2014.  A copy of the prospectus is available at:

                      http://goo.gl/gGTyXS

                           About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

                            *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to Caa1
from B2 and the Probability of Default Rating to Caa1-PD from B2-
PD based on Moody's expectation that KEMET's liquidity will be
pressured by maturing liabilities and negative free cash flow due
to the interest burden and continued operating losses at the Film
and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on Simpsonville,
S.C.-based KEMET Corp. to 'B-' from 'B+'.

"The downgrade is based on continued top-line and margin pressures
and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.


KID BRANDS: Sassy Inc. Assets to Be Sold to Angelcare for $14MM
---------------------------------------------------------------
Sassy, Inc., a wholly-owned subsidiary of Kid Brands Inc., entered
into an Asset Purchase Agreement dated as of July 25, 2014, with
Sassy 14, LLC, a Delaware limited liability company, and Angelcare
Monitors, Inc., a Canadian corporation, whereby, as authorized
under Sections 105, 363 and 365 of Chapter 11 of the Bankruptcy
Code, Sassy would sell certain assets of Sassy and other assets of
affiliates of Sassy used primarily in the operation of Sassy's
business of designing, importing, marketing and distributing
certain branded infant and juvenile products, including
developmental toys and feeding, bath and baby care items.

The transaction will be subject to approval of the Bankruptcy
Court and will be consummated only pursuant to a sale order to be
entered in the Bankruptcy Case and other applicable provisions of
the Bankruptcy Code.

The Sassy Agreement provides for cash consideration to be paid by
the Purchaser equal to the sum of $14,000,000, certain monetary
amounts in connection with the assumption and/or assignment of
certain assumed agreements, certain employee costs, and certain
deposits or other payments related to manufacturing orders made by
Seller after execution of the Sassy Agreement and prior to the
closing of the transaction, subject to a potential purchase price
adjustment based on Sassy's working capital as of the closing
date, plus the assumption of certain agreements and other
obligations.

The Agreement requires the Purchaser to deliver to Sassy a cash
deposit equal to $1,000,000 within two business days after the
signing of the Sassy Agreement, to be held in escrow by Lowenstein
Sandler LLP as escrow agent, which deposit has been delivered.
The transaction is subject to certain closing conditions,
including approval by the Bankruptcy Court of the transaction and
the assumption and assignment of the contracts (including real
property leases) to be transferred to the Sassy Purchaser in
connection with the transaction.

The Agreement includes certain customary representations and
warranties and covenants.

Pursuant to the Sassy Agreement, the parties have also agreed to
enter into a Transition Services Agreement, for a term that will
terminate on or before December 31, 2014, pursuant to which the
parties have each agreed to provide to the other certain services
necessary for the operation of the Sassy Business and the
continued operation in bankruptcy of the remaining business of the
Company and its affiliates.  The receiving party of the services
will generally reimburse to the providing party the actual, out-
of-pocket cost of any such services.

As reported by the Troubled Company Reporter, Kids Line, LLC and
CoCaLo, Inc. -- the so-called Soft Home entities -- on July 24
entered into an Asset Purchase Agreement with Crown Crafts Infant
Products, Inc., a wholly-owned subsidiary of Crown Crafts, Inc.,
whereby Soft Home would sell to Crown certain assets of Soft Home,
consisting primarily of trademarks, internet domain names and
related intangible assets, including the Kidsline(R) and CoCaLo(R)
brand names.  The transaction will be subject to approval of the
Bankruptcy Court and will be consummated only pursuant to a sale
order to be entered in the Bankruptcy Case and other applicable
provisions of the Bankruptcy Code.

The Soft Home Agreement provides for cash consideration to be paid
by the Soft Home Purchaser at the closing equal to $1,350,000.
The transaction is subject to certain closing conditions,
including approval by the Bankruptcy Court of the transaction. The
Soft Home Agreement includes certain customary representations and
warranties and covenants.

Both transactions under the Soft Home Agreement and the Sassy
Agreement are subject to higher and better offers that may be made
at a Bankruptcy Court hearing authorizing such transactions.

                       About Kid Brands

Based in Rutherford, New Jersey, Kid Brands, Inc., is a designer,
importer, marketer, and distributor of infant and juvenile
consumer products.  Its operating subsidiaries consist of Kids
Line, LLC, CoCaLo, Inc., Sassy, Inc., and LaJobi, Inc.  Providing
"everything but the baby" for a child's nursery, the company sells
infant bedding and accessories under the Kids Line and CoCaLo
brands; nursery furniture under the LaJobi brand; and baby care
items under the Kokopax and Sassy brands.

Citing their inability to raise capital due to contingent
liabilities and operational issues, Kid Brands and six of its U.S.
subsidiaries each filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No.
14-22582) on June 18, 2014.  To preserve the value of their
assets, the Debtors are pursuing a sale of the assets pursuant to
section 363 of the Bankruptcy Code.

As of April 30, 2014, the Debtors had $32.40 million in total
assets and $109.1 million in total liabilities.  As of the
Petition Date, unsecured debts totaled $54 million.

Judge Donald H. Steckroth oversees the cases.  The Debtors have
sought and obtained an order directing joint administration of
their Chapter 11 cases.

Lowenstein Sandler LLP serves as the Debtors' counsel.
PricewaterhouseCoopers LLP is the Debtors' financial advisor.  GRL
Capital Advisors acts as the Debtors' restructuring advisors.
GRL's Glenn Langberg served as the Debtors' chief restructuring
officer.  Mr. Langberg also oversaw the bankruptcy and sales of
Big M Inc., operator of the Mandee and Annie Sez stores.  Rust
Consulting/Omni Bankruptcy is the Debtors' claims and noticing
agent.

Salus Capital Partners LLC and Sterling National Bank have
committed to provide up to $49 million in DIP financing to the
Debtors.


KIDSPEACE CORP: Court Allows Plan to Become Effective
-----------------------------------------------------
The Hon. Richard E. Fehling of the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania entered on July 16, 2014, an
order authorizing KidsPeace Corporation and its debtor-affiliates'
First Modified Joint Chapter 11 Plan to become effective
notwithstanding certain additional financial disclosures.

The Debtors won't be required to file a further disclosure
statement, no further solicitation of the Plan will be required,
and the Plan is deemed accepted by all creditors who have
previously accepted the Plan.  The Plan may become effective,
subject to the satisfaction of the conditions precedent set forth
in Section 12.2 of the Plan, notwithstanding the additional
financial disclosures, which disclosures are not modifications to
the Plan and which are non-material for purposes of proceeding to
consummation of the Plan.

As reported by the Troubled Company Reporter on May 5, 2014, the
Court issued an order confirming the Plan.  Bill Rochelle, the
bankruptcy columnist for Bloomberg News, related that Pension
Benefit Guaranty Corporation will be paid $13.5 million in
installments for its claim of about $110 million arising from
underfunded pension plan.  According to the Bloomberg report, the
general unsecured creditors with $2.5 million in claims take 15%
in three installments, and that the bondholders' deficiency claims
and the PBGC's claim won't participate in the pool for unsecured
creditors.

On June 30, 2014, the Court authorized the Debtors to modify the
Plan to extend the effective date deadline.  The hearing on the
Debtors' request for authorization that the Plan become effective
notwithstanding certain additional financial disclosures was
adjourned to July 16, 2014, at 11:00 a.m.  The effective date
deadline, as set forth in Section 12.3 of the Plan, was modified
and extended through and including Aug. 31,2014.

                       About KidsPeace Corp.

KidsPeace Corp., a provider of behavioral services for children,
filed a petition for Chapter 11 reorganization (Bankr. E.D. Pa.
Case No. 13-14508) on May 21, 2013, in Reading, Pennsylvania.

KidsPeace operates a 96-bed pediatric psychiatric hospital in
Orefield, Pennsylvania.  Assets are $86.7 million, and debt on the
books is $158.6 million, according to a court filing.

The Debtor, which sought bankruptcy protection with eight
affiliates, tapped Norris McLaughlin & Marcus, P.A. as counsel;
EisnerAmper LLP as financial advisor, and Rust Omni as claims and
notice agent.

Assets total $158,587,999 at the end of 2012.  The Debtors owe
approximately $56,206,821 in bond debt, and they have been told
that their pension liability is allegedly about $100,000,000 of
which the Debtors currently reflect $83,049,412 on their books.

KidsPeace sought Chapter 11 (i) as a means to implement a
negotiated restructuring of bond debt currently aggregating
approximately $51,310,000 plus accrued interest to a reduced
amount of approximately $24 million in new 30-year bonds with
interest at 7.5 percent, and (ii) to continue on-going
negotiations with the Pension Benefit Guaranty Corporation in
hopes of reducing the PBGC asserted obligation of $100+ million to
an amount that the Debtors can reasonably expect to satisfy.

The Debtor disclosed $157,930,467 in assets and $168,768,207 in
liabilities as of the Chapter 11 filing.

Since March 2012, MK has been exploring possible affiliation or
acquisition opportunities; however, no offer of an affiliation or
acquisition has been presented to the Debtors.

Gemino Healthcare Finance, LLC, the prepetition revolving lender,
is represented by James S. Rankin, Jr., Esq., at Parker, Hudson,
Rainer & Dobbs LLP; and Weir & Partners LLP's Walter Weir, Jr.,
Esq.

UMB Bank, N.A., on behalf of bondholders, Performance Food Group
d/b/a AFI, W.B. Mason Co., Inc., Pension Benefit Guaranty
Corporation, and Teresa Laudenslager were appointed to an official
committee of unsecured creditors in the Debtors' cases.  The
Official Committee of Unsecured Creditors is represented by
Fitzpatrcik Lentz & Bubba, P.C., and Lowenstein Sandler LLP as
counsel.  FTI Consulting, Inc., serves as the panel's financial
advisor.


LEHMAN BROTHERS: Raises Estimate of Recovered Funds to $88.8B
-------------------------------------------------------------
Patrick Fitzgerald, writing for The Wall Street Journal, reported
that the team unwinding Lehman Brothers Holdings Inc. now
estimates that they will bring in $88.8 billion, buoyed by gains
on its real estate, derivatives and private-equity investments
along with recoveries from settlements with foreign affiliates.
According to the report, citing a court filing, Lehman said it is
boosting its estimated gross recoveries by $8.3 billion over last
year's estimate.

The Journal related that of the new estimate, Lehman's unwinding
of its commercial real estate holdings, derivatives positions and
loan portfolio are expected to bring in $3.7 billion in the coming
years.  Another chunk of cash, some $2.7 billion, is expected to
come from gains on Lehman's still-extensive private-equity
holdings and investments, including Lehman's stakes in energy
company Antero Resources LLC, manufacturer Firth Rixson Ltd. and
payment processor First Data Holdings, Inc., the report related.

                      About Lehman Brothers

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

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

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

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

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

               International Operations Collapse

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

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

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


LIBERTY INTERACTIVE: FTD Transaction No Impact on Fitch Ratings
---------------------------------------------------------------
In Fitch Ratings' view, the Issuer Default Rating (IDR) and Stable
Outlook on Liberty Interactive Corporation are unaffected by the
announced delay of its tracking stock restructuring and sale of
Provide Commerce Inc. to FTD Companies, Inc. (FTD). Fitch does not
expect either of these announcements to delay Liberty's intentions
to spin-off its 22% equity/57% voting interest in TripAdvisor Inc.
(TRIP) and its BuySeasons Inc. business.

The companies have entered into a definitive agreement where FTD
will acquire Liberty's Provide Commerce businesses, excluding
RedEnvelope, for a total transaction value of $430 million.
Liberty will receive 10.2 million shares of FTD, or approximately
35% of shares to be outstanding, (a $309 million value based on
volume weighted price of FTD shares over 10 days) and $121 million
in cash. Further, FTD's board will be increased from seven members
to 11 members, with Liberty selecting the new four members. The
transaction is expected to close by yearend, subject to approval
from regulators and FTD's shareholders. Fitch expects cash
proceeds will be used for general corporate purposes. The equity
stake in FTD is expected to be part of the Liberty Interactive
tracking stock.

Fitch's ratings materially rely on QVC, with Liberty's other
investments viewed as incremental support to the ratings. Fitch
does not ascribe a material weight to the e-commerce businesses
when assessing the consolidated credit profile. These businesses
are relatively small in size, accounting for approximately 4% of
consolidated Liberty EBITDA. Liberty's e-commerce companies
continue to have revenue growth with a year-over-year increase of
6.6% for the latest 12 month (LTM) period ending March 31, 2014.
However, EBITDA continues to be pressured, down 3.1% due to
continuing challenges in the businesses. While margins and EBITDA
levels have been negatively affected, they remain positive and
contribute positive cash flows to the consolidated credit.

In October 2013, Liberty announced its plans to separate LINTA/B
into: Liberty Digital Commerce (LDCA/B), which would hold the e-
commerce companies attributed to it, and QVC (QVCA/B), which will
hold QVC and the 38% HSN, Inc. stake. Yesterday, Liberty announced
that it is reevaluating the optimal structure for its Digital
Commerce assets due to the sale of Provide Commerce Inc., delaying
the planned separation of Liberty Interactive tracking stock
(LINTA/B) into two tracking stocks. Provide Commerce generated an
estimated $600 million in revenue; approximately 35% of the e-
commerce companies total revenues ($1.7 billion at LTM ended March
31, 2014). For more details, please see 'Fitch Affirms Liberty
Interactive LLC's IDR at 'BB'; Outlook Stable' (Oct. 10, 2013).

Fitch's ratings for Liberty and QVC reflect the consolidated legal
entity/obligor credit profile, rather than the tracking stock
structure. Based on Fitch's interpretation of the Liberty bond
indentures, the company could not spin out QVC without consent of
the bondholders, based on the current asset mix at Liberty. QVC
generates 84% and 98% of Liberty's revenues and EBITDA,
respectively. In addition, Fitch believes QVC makes up a
meaningful portion of Liberty's equity value. Any spin-off of QVC
would likely trigger the 'substantially all' asset disposition
restriction within the Liberty indentures.

Fitch does not expect any material change in leverage as a result
of the transaction, due to the nominal EBITDA generated by Provide
Commerce relative to the consolidated EBITDA generated by Liberty.

As of March 31, 2014, Fitch calculates QVC's unadjusted gross
leverage at 2.1x and Liberty's unadjusted gross leverage at 3.9x
(excludes TripAdvisor's debt and EBITDA). Fitch believes Liberty
continues to carry meaningful liquidity with $1.2 billion in cash
(ex-TRIP), $1.9 billion of availability on QVC's $2 billion
revolver (expires March 2018), and $4.1 billion in other public
holdings (ex-TRIP) as of March 31, 2014. Fitch calculates free
cash flow (FCF) of $1.1 billion (ex-TRIP) in the LTM period. Based
on Fitch's conservative projections, Fitch expects Liberty's FCF
to be in the range of $750 million to $1 billion for fiscal 2014.

Fitch currently rates Liberty and QVC as follows:

Liberty

-- Issuer Default Rating (IDR) 'BB';
-- Senior unsecured debt 'BB'.

QVC

-- IDR 'BB';
-- Senior secured debt 'BBB-'.

The Rating Outlook is Stable.


LUCID INC: Suspending Filing of Reports with SEC
------------------------------------------------
Lucid, Inc., filed with the U.S. Securities and Exchange
Commission a Form 15 to terminate the registration of its common
stock, par value $0.01 per share, and warrants.  As of July 31,
2014, there were 179 holders of the securities.  As as result of
the Form 15 filing, the Company is not anymore obliged to file
periodic reports with the SEC.

The Company separately filed a post-effective amendment relating
to its registration statement on Form S-8 pertaining to the
registration of:

    (i) 1,981,500 shares of the Company's common stock, $0.01
        par value per share, issuable under the Company's 2010
        Long-Term Equity Incentive Plan;

   (ii) 865,000 Common Shares, issuable under the Company's
        2007 Long-Term Incentive Plan; and

  (iii) 342,774 Common Shares, issuable under the Company's
        Year 2000 Stock Option Plan, which was filed with the
        Securities and Exchange Commission on July 19,
        2012.

The Company removed from registration all securities registered
under the Registration Statement that remain unsold.

                          About Lucid Inc.

Rochester, N.Y.-based Lucid, Inc., is a medical device company
that designs, manufactures and sells non-invasive cellular imaging
devices enabling physicians to image and diagnose skin disease in
real time without an invasive or surgical biopsy.

Lucid reported a net loss of $5.47 million on $3.34 million of
revenues for the year ended Dec. 31, 2013, as compared with a net
loss of $9.82 million on $2.43 million of revenues in 2012.  As of
Dec. 31, 2013, the Company had $2.40 million in total assets,
$14.90 million in total liabilities and a $12.49 million
total stockholders' deficit.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company's recurring losses from operations, deficit in equity,
and projected need to raise additional capital to fund operations
raise substantial doubt about its ability to continue as a going
concern.

                         Bankruptcy Warning

"As of December 31, 2013, we had approximately $12.0 million of
outstanding debt.  We cannot be sure that our future working
capital or cash flows, combined with any funds resulting from our
current fund raising efforts, will be sufficient to meet our debt
obligations and commitments.  Any failure by us to repay such debt
in accordance with its terms or to renegotiate and extend such
terms would have a negative impact on our business and financial
condition, and may result in legal claims by our creditors.  In
addition, the existence of our outstanding debt many hinder or
prevent us from raising new equity or debt financing.  Our ability
to make scheduled payments on our debt as they become due will
depend on our future performance and our ability to implement our
business strategy successfully.  Failure to pay our interest
expense or make our principal payments would result in a default.
A default, if not waived, could result in acceleration of our
indebtedness, in which case the debt would become immediately due
and payable.  If this occurs, we may be forced to sell or
liquidate assets, obtain additional equity capital or refinance or
restructure all or a portion of our outstanding debt on terms that
may be less favorable to us.  In the event that we are unable to
do so, we may be left without sufficient liquidity and we may not
be able to repay our debt and the lenders may be able to foreclose
on our assets or force us into bankruptcy proceedings or
involuntary receivership," the Company said in the Annual Report
for the year ended Dec. 31, 2013.


MANISTIQUE PAPERS: Lowenstein Fees May be Paid From Remark Deal
---------------------------------------------------------------
The Official Committee of Unsecured Creditors of Manistique Papers
Liquidation Company, Inc., sought and obtained permission from the
U.S. Bankruptcy Court to modify the retention of its counsel,
Lowenstein Sandler LLP.  The panel is allowed to pay Lowenstein
Sandler from certain settlement proceeds.  All outstanding fees
and expenses of Lowenstein Sandler previously approved by orders
of the Court are to be paid directly from the Settlement Proceeds
without delay.

The subject Settlement stems from lawsuits related to Remark Paper
Company, Inc.  The initial lawsuit was commenced by the Debtor on
January 12, 2012, styled Manistique Papers, Inc. v. Remark Paper
Company, Adv. Proc. No. 12-50052 (the "Remark Lawsuit").  A second
lawsuit was filed by the Official Committee of Unsecured Creditors
on December 26, 2012, on behalf of the Debtor's estate against (i)
Remark, (ii) DDFKD Investments, LP, (iii) Donald P. Kramer and
Dennis Kramer (iv) Merit Mezzanine Parallel Fund IV, L.P., Merit
Mezzanine Fund IV, L.P. and Merit Capital Partners IV, L.P. d/b/a
Merit Capital Partners, (v) Thomas Campion and Evan Gallinson, and
(vi) Jon Johnson (collectively, the "Defendants").  The lawsuit is
styled as Official Committee of Unsecured Creditors of Manistique
Papers, Inc. v. Remark Paper Company, et al, Adv. Proc. No. 12-
51307.  The Committee sought and obtained permission from the
Court for standing to commence the action after a very contested
hearing.

Thereafter, with significant involvement by the Committee, the
parties to the Lawsuits and Philadelphia Indemnity Insurance
Company, as insurer to certain of the Defendants, entered into
negotiations which ultimately led to the settlement of the
Lawsuits on these terms:

   (a) Philadelphia, on behalf of the Merit Directors, Johnson,
       Donald P. Kramer, and Dennis Kramer, agreed to pay to the
       Debtor $1,215,000; and

   (b) The Kramers agreed to pay to the Debtor $10,000.

The Committee obtained Court approval of the Settlement back in
mid-February.

                     About Manistique Papers

Manistique Papers Inc. operates a landfill in Manistique,
Michigan, whereby residuals resulting from paper production are
deposited.  It owns a 125,000 ton-a-year plant making specialty
papers from recycled fiber.

Manistique Papers filed for Chapter 11 bankruptcy protection
(Bankr. D. Del. Case No. 11-12562) on Aug. 12, 2011.  Godfrey &
Kahn, S.C. represents the Debtor in its restructuring effort.
Morris, Nichols, Arsht & Tunnell LLP serves as its Delaware
bankruptcy co-counsel.  Vector Consulting, L.L.C., serves as its
financial advisor.  Baker Tilly Virchow Krause, LLC, serves as its
accountant.

The Official Committee of Unsecured Creditors appointed in the
case is represented by Lowenstein Sandler PC as lead counsel and
Ashby & Geddes, P.A., as Delaware counsel.  J.H. Cohn LLC serves
as the panel's financial advisor.

Manistique Papers disclosed $19,688,471 in assets and $24,633,664
in liabilities as of the Chapter 11 filing.


MARINA BIOTECH: Pryor Cashman Holds 4.9% Equity Stake
-----------------------------------------------------
In an amended Schedule 13G filed with the U.S. Securities and
Exchange Commission, Pryor Cashman LLP disclosed that as of
July 22, 2014, it beneficially owned 1,255,550 shares of common
stock of Marina Biotech, Inc., representing 4.9 percent based on
25,626,450 shares of common stock outstanding as of July 14, 2014,
as reported on the Issuer's annual report on Form 10-K for the
fiscal year ended Dec. 31, 2012.  Pryor Cashman previously owned
1,586,959 common shares of the Company at Dec. 31, 2013.  A full-
text copy of the regulatory filing is available for free at:

                         http://is.gd/xpdFTb

                         About Marina Biotech

Marina Biotech, Inc., headquartered in Bothell, Washington, is a
biotechnology company focused on the discovery, development and
commercialization of nucleic acid-based therapies utilizing gene
silencing approaches such as RNA interference ("RNAi") and
blocking messenger RNA ("mRNA") translation.  The Company's goal
is to improve human health through the development, either through
its own efforts or those of its collaboration partners and
licensees, of these nucleic acid-based therapeutics as well as the
delivery technologies that together provide superior treatment
options for patients.  The Company has multiple proprietary
technologies integrated into a broad nucleic acid-based drug
discovery platform, with the capability to deliver novel nucleic
acid-based therapeutics via systemic, local and oral
administration to target a wide range of human diseases, based on
the unique characteristics of the cells and organs involved in
each disease.

On June 1, 2012, the Company announced that, due to its financial
condition, it had implemented a furlough of approximately 90% of
its employees and ceased substantially all day-to-day operations.
Since that time substantially all of the furloughed employees have
been terminated.  As of Sept. 30, 2012, the Company had
approximately 11 remaining employees, including all of its
executive officers, all of whom are either furloughed or working
on reduced salary.  As a result, since June 1, 2012, its internal
research and development efforts have been minimal, pending
receipt of adequate funding.

KPMG LLP, in Seattle, expressed substantial doubt about Marina
Biotech's ability to continue as a going concern following the
2011 financial results.  The independent auditors noted that the
Company has ceased substantially all day-to-day operations,
including most research and development activities, has incurred
recurring losses, has a working capital and accumulated deficit
and has had recurring negative cash flows from operations.

As reported by the TCR on May 21, 2014, KPMG LLP was dismissed as
the principal accountants for Marina Biotech, Inc., and Wolf &
Company, P.C., had been engaged as replacement.

Marina Biotech reported a net loss of $9.54 million in 2012, as
compared with a net loss of $29.42 million in 2011.


MAUI LAND: Reports $477,000 Net Income in Second Quarter
--------------------------------------------------------
Maui Land & Pineapple Company, Inc., filed with the U.S.
Securities and Exchange Commission its quarterly report on Form
10-Q disclosing net income of $477,000 on $5 million of total
operating revenues for the three months ended June 30, 2014, as
compared with net income of $831,000 on $2.55 million of total
operating revenues for the same period in 2013.

For the six months ended June 30, 2014, the Company reported a net
loss of $432,000 on $7.47 million of total operating revenues as
compared with a net loss of $984,000 on $5.18 million of total
operating revenues for the same period last year.

The Company's balance sheet at June 30, 2014, showed $51.9 million
in total assets, $79.03 million in total liabilities and a $27.13
million stockholders' deficiency.

At June 30, 2014, the Company's total debt was $48.8 million,
compared to $49 million at Dec. 31, 2013, and the Company had
approximately $0.2 million in cash and cash equivalents.

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

                       http://goo.gl/8Hpmcz

                   About Maui Land & Pineapple Co.

Maui Land & Pineapple Company, Inc. (NYSE: MLP) --
http://mauiland.com/-- develops, sells, and manages residential,
resort, commercial, and industrial real estate.  The Company owns
approximately 23,000 acres of land on Maui and operates retail,
utility operations, and a nature preserve at the Kapalua Resort.
The Company's principal subsidiary is Kapalua Land Company, Ltd.,
the operator and developer of Kapalua Resort, a master-planned
community in West Maui.

Maui Land reported a net loss of $1.16 million on $15.21 million
of total operating revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $4.60 million on $13.57 million of
total operating revenues in 2012.

Deloitte & Touche LLP, in Honolulu, Hawaii, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The indepdendent auditors noted
that the Company's recurring negative cash flows from operations
and deficiency in stockholders' equity raise substantial doubt
about the Company's ability to continue as a going concern.


MISSION NEW ENERGY: Had A$458,000 in Cash at June 30
----------------------------------------------------
Mission New Energy Limited filed with the U.S. Securities and
Exchange Commission its Appendix 4C (Quarterly Report for entities
admitted on the basis of commitments) for the quarter ended
June 30, 2014.

At the beginning of the quarter, the Company had A$1 million in
cash.  The Company reported a decrease in cash held of A$514,000
and exchange rate adjustment of A$34,000.  As a result, the
Company had A$458,000 in cash at June 30, 2014.

The Company reported A$0 receipts from customers during the
quarter.  The Company paid A$179,000 in wages.

A full-text copy of the Quarterly report is available for free at:

                       http://goo.gl/aNf8na

                      About Mission NewEnergy

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

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

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

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

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

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


MMODAL INC: Completes Financial Restructuring; Exits Chapter 11
---------------------------------------------------------------
M*Modal on July 31 disclosed that it has successfully completed
its financial restructuring, reducing its debt by 55%, and has
emerged from Chapter 11 Bankruptcy.

"With renewed financial strength, M*Modal is firmly positioned to
deliver the highest quality and most advanced clinical
documentation to hospitals and physician practices," said Duncan
James, M*Modal's Chief Executive Officer.  "Our new capital
structure will better support M*Modal's continued investment in
delivering innovative transcription, coding and speech technology
solutions, and will provide a stronger foundation to execute on
our strategic plans.

"Specifically, M*Modal is uniquely capable of delivering
integrated clinical documentation solutions that accurately and
efficiently document speech narratives of complex patient and
physician interaction into electronic health records," Mr. James
said.  "Our solutions support the capture and care collaboration
of over 60 million medical visits each year, enabling physicians
to save time, hospitals to receive appropriate reimbursement, and
patients to receive better care."

As previously announced, M*Modal's Plan of Reorganization was
confirmed by the U.S. Bankruptcy Court for the Southern District
of New York by an order entered on July 21, 2014.

M*Modal currently provides clinical documentation solutions to
more than 3,800 hospitals and physician groups, including 65% of
the hospitals on the recent 2014-15 U.S. News & World Report Best
Hospitals "Honor Roll."

"We thank our customers, partners and suppliers for their
confidence and support throughout this process, and in particular
we thank our employees for their focus and dedication to
delivering continued quality services," Mr. James said.

                          About M*Modal

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

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

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

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

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

The Joint Plan of Reorganization dated April 25, 2014, provides
that First Lien Claims will be allowed in the aggregate amount of
$507,680,532.  On the effective date, holders of First Lien Claim
will also receive their pro rata share of (i) the New Term Loan,
(ii) 93% of Reorganized Holdings Equity Interests, subject to
dilution solely on account of the New Warrants and Management
Stock Option Plan; and (iii) $8,197,801 in Cash.

Holders of Allowed General Unsecured Claims will receive their pro
rata share of (i) 7% of the Reorganized Holdings Equity Interests;
(ii) the New A Warrants and New B Warrants; and (iii) $617,039 in
Cash.

A Steering Committee for Secured Lenders under the Prepetition
Credit Agreement is represented by Richard Levy, Esq., at Latham &
Watkins LLP.  An Ad Hoc Committee of certain unaffiliated holders
of (i) the Term B loan under the Prepetition Credit Agreement and
(ii) Notes issued under the Indenture is represented by Michael
Stamer, Esq., and James Savin, Esq., at Akin Gump Strauss Hauer &
Feld LLP.

The U.S. Trustee for Region 2 has appointed three members to the
Official Committee of Unsecured Creditors.  Kristopher M. Hansen,
Esq., Frank A. Merola, Esq., and Matthew G. Garofalo, Esq., at
Stroock & Stroock & Lavan LLP, in New York, serve as counsel to
the Committee.  Michael Diaz of FTI Consulting leads the team of
financial advisors to the Creditors' Committee.


MOONLIGHT APARTMENTS: Receiver Seeks Dismissal of SARE Case
-----------------------------------------------------------
Carl R. Clark, Receiver of Moonlight Apartments, LLC, has
requested that the Bankruptcy Court for the District of Kansas,
Kansas City Division, dismiss the Debtor's chapter 11 case.  Clark
was appointed Receiver by the District Court of Johnson County,
Kansas, in December 2012 to protect the interest of the Debtor's
construction lender, First Capital Corp., which loaned the Debtor
funds for the construction of an apartment complex.  The Receiver
has continued to control and operate the apartment property.  The
Debtor now wishes to dismiss its chapter 11 single asset real
estate case which was filed on January 28, 2014.

As the Debtor's real estate was sold at auction, and cash
collateral was used to satisfy First Capital's lien, there are no
remaining assets in the bankruptcy estate.  Thus, the Receiver
contends that there is "cause" for dismissing the case pursuant to
Sec. 1112(b)(1) of the Bankruptcy Code.  The Receiver further
contends that continuing the bankruptcy case under either chapter
11 or chapter 7 would result in ongoing administrative fees and
expenses which would deplete any funds available to unsecured
creditors.

Clark and Shane J. McCall, Esq. are attorneys with Lentz, Clark,
Deines PA of Overland Park, KS.

                About Moonlight Apartments, LLC

Moonlight Apartments, LLC, owner of multi-family residential real
property located in Gardner, Kansas, filed a Chapter 11 bankruptcy
petition (Bankr. D. Kansas Case No. 14-20172) in Kansas City on
Jan. 28, 2014.  The Overland Park, Kansas-based company disclosed
$28,631,756 in assets and $26,125,713 in liabilities as of the
Chapter 11 filing.

The Debtor is represented by attorneys at Jochens Law Office,
Inc., in Kansas City.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement were due May 28, 2014.

No committee of creditors or equity security holders has been
appointed in this case.

Carl R. Clark is the receiver of Moonlight Apartments.


MUSCLEPHARM CORP: Inks Employment Agreements with CFO and COO
-------------------------------------------------------------
MusclePharm Corporation, on July 28, 2014, entered into employment
agreements with certain of its executive officers including Donald
Prosser and James Greenwell, as well as entered into amendments to
the employment contracts of certain of its executive officers
including Brad Pyatt and Richard Estalella.

Pursuant to Mr. Prosser's employment contract, Mr. Prosser will
serve as the Company's chief financial officer until Dec. 31,
2015, during which time Mr. Prosser will report to the Company's
President.  In consideration of Mr. Prosser's performance of his
duties during the Prosser Term, Prosser is to receive an initial
base salary of $275,000 per year, with any increases to such
Prosser Base Salary during the Prosser Term to be determined at
the discretion of the Company and the Compensation Committee of
the Company's Board of Directors.  Mr. Prosser is also eligible to
receive an annual performance bonus based on certain goals and
performance levels established by the Company and the Committee,
in an amount not to exceed $225,000 per year.  Mr. Prosser is also
entitled to receive, at the discretion and review of the
Committee, shares of the Company's common stock in the amounts and
pursuant to the terms as established by the Committee.

Pursuant to Mr. Greenwell's employment contract, Mr. Greenwell
will serve as the Company's chief operating officer until Dec. 31,
2016, during which time Greenwell will report to the Company's
president.  In consideration of Mr. Greenwell's performance of his
duties during the Greenwell Term, Greenwell is to receive an
initial base salary of $275,000 per year, with any increases to
such Greenwell Base Salary during the Greenwell Term to be
determined at the discretion of the Company and the Committee.
Greenwell is also eligible to receive an annual performance bonus
based on certain goals and performance levels established by the
Company and the Committee, in an amount not to exceed $300,000 per
year.  Mr. Greenwell is also entitled to receive, at the
discretion and review of the Committee, shares of the Company's
common stock in the amounts and pursuant to the terms as
established by the Committee.

Mr. Pyatt's employment contract was amended to extend the term of
such agreement to Dec. 31, 2018.

Mr. Estalella's employment contract was amended as follows:

   * Mr. Estalella's title and responsibilities were amended to
     reflect his current role as the Company's president;

   * The term of that contract was extended to Dec. 31, 2018;

   * Base Salary was increased to $300,000 per year and bonus
     eligibility was increased to $325,000 per year; and

   * Certain severance and termination provisions were amended.

                         About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

MusclePharm reported a net loss after taxes of $17.71 million in
2013, as compared with a net loss after taxes of $18.95 million in
2012.  The Company's balance sheet at March 31, 2014, showed
$65.61 million in total assets, $30.81 million in total
liabilities and $34.79 million in total stockholders' equity.


NASSAU TOWER: TD Bank Blocks Confirmation of 2nd Amended Plan
-------------------------------------------------------------
TD Bank, N.A., filed with the U.S. Bankruptcy Court for the
District of New Jersey on July 23, 2014, an objection to Nassau
Tower Realty, LLC's Second Modified Plan of Reorganization Plan.

According to TD Bank, the Debtor has the burden of proof on
several issues before the Court, including (a) feasibility of the
Second Amended Plan, and (b) whether TD Bank is receiving the
indubitable equivalent of its secured claim in the Second Amended
Plan, and in each instance, the Debtor cannot meet its burden of
proof.

TD Bank believes that the Plan isn't feasible since the
Debtor has failed to obtain the necessary commitment letter
for the financing proposed in the Plan.  The Second Modified
Disclosure Statement -- a copy of which is available at
http://bankrupt.com/misc/NASSAUTOWER_157_2ds.pdf-- alleges
the Debtor is close to receiving a commitment for either
$3.35 million or $6.5 million.  However, no commitment letter
has been obtained by the Debtor, TD Bank says.

A copy of the objection is available for free at:

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

On March 3, 2014, the Debtor filed a first modified disclosure
statement and first modified plan that classifies the Santander
secured debt separately in class two and provides a treatment
characterized as impaired.  On April 22, 2014, the Court approved
the Disclosure Statement and set the plan confirmation hearing for
May 29, 2014, at 10:00 a.m.

The Court entered on April 30, 2014, an order approving a
stipulation and consent order between the Debtor and Santandar
resolving the bank's Nov. 26, 2013 objection to the Debtor's Sept.
27, 2013 Disclosure Statement and Plan that proposed
to: (i) classify the Santander secured debt separately in
class two; (ii) provide a treatment characterized as unimpaired;
(iii) permit Santander to retain its mortgage liens on the
Santander collateral and to otherwise be unaffected by the Plan.
A copy of the order is available for free at:

       http://bankrupt.com/misc/NASSAUTOWER_163_dsord.pdf

Pursuant to the Stipulation, the Debtor agreed to sell or
refinance 1 Robbins Parkway within 90 days of the effective date.
The Second Amended Plan does not include a time frame by which the
Robbins Parkway property would be sold, and as a result, it is
unclear whether the Robbins Parkway property must be sold or
refinanced no later than 14 days after the confirmation order or
90 days after the effective date, the U.S. Trustee says.  Pursuant
to the Stipulation, the Debtor would file a proposed second
modified plan that substantially provides the treatment for
Santander with respect to its collateral.

On April 21, 2014, the Debtor filed the Second Modified Plan,
which the U.S. Trustee objected to on May 22, 2014, because, among
other things, (i) the Debtor has not filed its monthly operating
report for the month of April 2014, which report was due on or
before May 20, 2014; and (ii) the Debtor has failed to pay the
correct quarterly fees for the third quarter of 2013, the fourth
quarter of 2013 and the first quarter of 2014.

The U.S. Trustee says in its May 22 court filing that without the
most recent monthly operating report, it is difficult to
understand the feasibility of the Plan, and if the Debtor is
unable to escrow the funds, then the Second Amended Plan cannot be
confirmed.  A separate motion to compel the payment of quarterly
fees will be filed, which will allow the Second Amended Plan to be
confirmed subject to the Debtor placing the disputed amount of
quarterly fees in an attorney trust account held by the Debtor's
attorney.

According to the U.S. Trustee, it appears that the
Debtor, through its Second Amended Plan, proposes to pay
(i) administrative claims on the effective date unless a
claimant agreed to be paid later, (ii) the secured claim of
Santandar, through the sale of properties or a negotiated
credit, (iii) the secured claims of TD Bank through negotiated
credits of properties owned by the Debtor and properties owned
by NTH and a loan, (iv) other secured claims in accordance with
their notes or loan agreements and (v) unsecured creditors a pro
rata distribution from the Intex claim and the property sold at 1
and 13 Robbins Place after payment to administrative claims.  The
Debtor provides that the Plan will be effectuated by the delivery
of deeds to TD Bank for properties to be turned over for fair
value credits.  In addition, on or before the effective date, the
Debtor will sell the properties to be sold (1 and 13 Robbins
Parkway) and complete the refinance transactions.  The Debtor
defines the effective date in the plan as the day on which the
confirmation order becomes a final order.  As a result, the sale
and refinance must be completed no later than 14 days after the
confirmation order is entered by the Court.

The TD Bank is represented by:

      Timothy P. Duggan, Esq.
      Stark & Stark, P.C.
      993 Lenox Drive, Building 2
      P.O. Box 5315
      Princeton, New Jersey 08543-5315
      Tel: (609) 896-9060
      Fax: (609) 895-7395

TD Bank Wants Stay Lifted

On April 15, 2014, TD Bank asked the Court for an order lifting
the automatic stay to permit the bank to proceed to conclusion
with its foreclosure proceedings with respect to real property
commonly known as 71-75 North Main Street, Lambertville, New
Jersey; 1015 Route 9 Berkeley Township, New Jersey; 3245 North
Route 35, Toms River, New Jersey; 1513 Richmond Avenue, Point
Pleasant, New Jersey; 22 South Sixth Street, Stroudsburg Borough,
Pennsylvania; and 1377 Woodside Avenue, Lower Makefield Township,
Pennsylvania.

The Debtor objected to TD Bank's motion on May 12, 2014, saying
that TD Bank is not entitled to stay relief because the Debtor has
a reasonable possibility of confirming a plan in a reasonable
period of time.  The Debtor filed for bankruptcy relief under
Chapter 11 and proposed a plan with regard to the properties
encumbered by the TD Bank's notes.

                      About Nassau Tower

Princeton, N.J.-based Nassau Tower Realty, LLC, filed for
Chapter 11 relief on (Bankr. D. N.J. Case No. 13-24984) on July 9,
2013.  The Hon. Judge Michael B. Kaplan presides over the case.
Paul Maselli, Esq., and Kimberly Pelkey Sdeo, Esq., at Maselli
Warren, P.C., represent the Debtor as counsel.  The Debtor
estimated assets of $10 million to $50 million and debts of
$10 million to $50 million.

The Debtor is the owner of 17 parcels of real estate.  It owns
13 parcels in New Jersey, 3 parcels in Pennsylvania, one parcel in
Maine.  Most of the properties generate income in the form of
rents paid by tenants.

The petition was signed by Louis Mercatanti, officer of Nassau
Holdings, Inc.

The Debtor filed a Plan of Reorganization dated Sept. 27, 2013,
that allows the Debtor to reorganize by continuing to operate, to
liquidate by selling assets of the estate, or a combination of
both.

                             * * *

On April 14, 2014, the Debtor informed the Court that it has
transferred to 704 Howe Street, Bay Head, NJ 08742, from 619
Alexander Road, Princeton, NJ 08540.


NATIONAL ED: Fitch Cuts & Withdraws Sub. Notes Rating to 'B-sf'
---------------------------------------------------------------
Fitch Ratings downgrades the subordinate note from 'BBsf' to 'B-
sf' issued by National Ed Financing LLC and subsequently withdraws
the rating for coverage reasons.  National Ed Financing has chosen
to stop participating in the rating process.  Accordingly, Fitch
will no longer provide ratings or analytical coverage for National
Ed Financing.

KEY RATING DRIVERS

Collateral Quality: The loans under the facility are comprised of
88% of Federal Family Education Loan Program (FFELP) loans and
approximately 12% private student loans.  The FFELP collateral
benefits from the guarantees provided by the transaction's
eligible guarantors and at least 97% reinsurance of principal and
accrued interest provided by the U.S. Department of Education (ED)
for the FFELP loans, which make up the majority of the portfolio.
The projected lifetime defaults for the private student loans are
expected to range between 30%-40%.  A recovery rate of 14% was
applied.

Credit Enhancement: The rating on the subordinate note is
downgraded due to the insufficient credit enhancements to cover
the applicable risk factor stresses.  In addition, the trust has
not been able to build up parity since the deal's inception.  As
of May 2014, total parity is 98.00%.  The parity stagnation is due
to the high expense structure and rich borrower benefits, which
has contributed to a lower interest margin.  The trust is a full
turbo structure; therefore no cash is released until the notes are
paid in full.

Liquidity Support: Liquidity support is provided by a reserve
account.  The reserve is sized equal to 0.50% of the total note
balance.

Servicing Capabilities: National Education is the Master Servicer
and will be responsible for servicing approximately 90% of the
FFELP collateral pool and 100% of the private student loan
collateral pool.  The remaining 10% of FFELP collateral is
serviced by ACS, COSTEP, ESA, Great Lakes (GLHEC), Nelnet,
AES/PHEAA, Ed Financial and Navient Solutions.  Fitch has reviewed
the servicing operations of the above entities and believes them
to be acceptable servicers of FFELP and private student loans.

RATING SENSITIVITIES

Since FFELP student loan ABS rely on the U.S. government to
reimburse defaults, 'AAAsf' FFELP ABS ratings will likely move in
tandem with the 'AAA' U.S. sovereign rating.  Aside from the U.S.
sovereign rating, defaults and basis risk account for the majority
of the risk embedded in FFELP student loan transactions.
Additional defaults and basis shock beyond Fitch's published
stresses could result in future downgrades.  Likewise, a buildup
of credit enhancement driven by positive excess spread given
favorable basis factor conditions could lead to future upgrades.
As Fitch's base case private loans default proxy is derived
primarily from historical collateral performance, actual
performance may differ from the expected performance, resulting in
higher loss levels than the base case.  This will result in a
decline in credit enhancement and remaining loss coverage levels
available to the notes and may make certain note ratings
susceptible to potential negative rating actions, depending on the
extent of the decline in coverage.

Fitch has taken the following rating action:

National Ed Financing LLC - Series 2008-A

   -- Class B downgraded to 'B-sf' from 'BBsf'; subsequently
      withdrawn


NATIVE WHOLESALE: Amended Plan Okayed, Dismissal Motion Withdrawn
-----------------------------------------------------------------
The Hon. John Bucki of the U.S. Bankruptcy Court for the Western
District of New York entered on July 29, 2014, an order confirming
the Amended Joint Consensual Plan of reorganization of Native
Wholesale Supply Co.

As reported by the Troubled Company Reporter on July 18, 2014, the
Court approved the Joint Consensual Disclosure Statement, as
amended, for the Plan.  A full-text copy of the Amended Disclosure
dated June 13, 2014, is available for free at:

      http://bankrupt.com/misc/NATIVEWHOLESALE_AmdDS0613.PDF

Janet G. Burhyte, Esq., at GrossShuman Brizdle & Gilfillan, P.C.,
the attorney for the Debtor, sent a letter to the Clerk of Court
informing her on July 29, 2014, that the Debtor has withdrawn its
Oct. 21, 2013 motion seeking dismissal of its bankruptcy case.

             About Native Wholesale Supply Company

Native Wholesale Supply Company is engaged in the business of
importing cigarettes and other tobacco products from Canada and
selling them to third parties within the United States.  It
purchases the products from Grand River Enterprises Six Nations,
Ltd., a Canadian corporation and the Debtor's only secured
creditor.  Native is an entity organized under the Sac and Fox
Nation and has its principal place of business at 10955 Logan Road
in Perrysburg, New York.

Native filed for Chapter 11 bankruptcy (Bankr. W.D.N.Y. Case No.
11-14009) on Nov. 21, 2011.  The Chapter 11 filing was triggered
to resolve an ongoing dispute with the United States government
regarding up to $43 million in assessments made by the government
against the Debtor pursuant to the Fair and Equitable Tobacco
Reform Act of 2004 and the Tobacco Transition Payment Program and
to restructure the terms of payment of any obligation determined
to be owing by the Debtor to the U.S. under the Disputed
Assessment.  The issues pertaining to the Disputed Assessment
resulted in two lawsuits, subsequently consolidated, now pending
in the Federal District Court.

Robert J. Feldman, Esq., and Janet G. Burhyte, Esq., at Gross,
Shuman, Brizdle & Gilfillan, P.C., in Buffalo, N.Y., represent the
Debtor as counsel.

The Company disclosed $30,022,315 in assets and $70,590,564 in
liabilities as of the Chapter 11 filing.

The States of California, New Mexico, Oklahoma and Idaho have
appeared in the case and are represented by Garry M. Graber, Esq.,
and Craig T. Lutterbein, Esq., at Hodgson Russ LLP, in Buffalo,
New York, and Karen Cordry, Esq., National Association of
Attorneys General, in Washington, D.C.

According to a Consensual Disclosure Statement for Joint
Consensual Plan of Reorganization of Native Wholesale Supply
Company, and the States dated March 6, 2014, the Debtor
established a Plan Funding Account at M&T and deposited
$5.5 million on Feb. 4, 2014, and an additional $500,000 was
deposited on Feb. 14, 2014.  An additional $500,000 will be
deposited in the Plan Funding Account on each succeeding 15th day
of each month (or the first business day after the 15th)
beginning in March 2014 until the Plan is confirmed.

No trustee, examiner or creditors' committee has been appointed in
the case.


NELSON EDUCATION: S&P Withdraws 'D' Corporate Credit Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'D' long-term
corporate credit rating on Toronto-based Nelson Education Ltd.  At
the same time, Standard & Poor's withdrew its issue-level and
recovery ratings on the company's debt.  S&P withdrew the ratings
at the issuer's request.


NEOMEDIA TECHNOLOGIES: To Restate 2013 10-K and Q1 2014 10-Q
------------------------------------------------------------
NeoMedia Technologies, Inc., had received a correspondence from
the U.S. Securities and Exchange Commission requesting that:

   (i) the Company restate certain of its financial statements by
       filing amendments to the reports containing those
       financials; and

  (ii) the Company file a current report on Form 8-K to report
       non-reliance on those financials.

Accordingly, the Company filed a Current Report on Form 8-K to
report that the Company's previously issued audited financial
statements as of and for the year ended Dec. 31, 2013, as
presented in the Company's Annual Report on Form 10-K for that
period, as well as the financial statements issued in the
Company's quarterly report on Form 10-Q for the period ending
March 31, 2014, should no longer be relied upon.

In its correspondence, the SEC asserted that certain modifications
in the Company's valuation methodology, deemed as accounting
estimates by the Company, contained errors with respect to the
valuation of convertible debentures issued by the Company, in that
such methodology did not capture the debentures' potentially
dilutive effect upon their conversion into common stock. The
operational performance of the Company will remain unchanged.

The Company intends to file an amended Form 10-K and an amended
Form 10-Q that will contain restated Financial Statements revised
pursuant to the SEC's comments.

                   About NeoMedia Technologies

Atlanta, Ga.-based NeoMedia Technologies provides mobile barcode
scanning solutions.  The Company's technology allows mobile
devices with cameras to read 1D and 2D barcodes and provide "one
click" access to mobile content.

NeoMedia reported a net loss of $214.11 million in 2013, as
compared with a net loss of $19.38 million in 2012.

Kingery & Crouse, P.A., in Tampa, FL, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company has suffered recurring losses from operations, has
significant working capital and shareholder deficits and may have
ongoing requirements for additional capital investment.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


NEW ENGLAND COMPOUNDING: Judge Approves Settlements
---------------------------------------------------
Jacqueline Palank, writing for Daily Bankruptcy Review, reported
that victims of a deadly meningitis outbreak will share as much as
$100 million under settlements that won court approval in the
bankruptcy case of the Massachusetts pharmacy tied to the
outbreak.

As previously reported by The Troubled Company Reporter, citing
Bill Rochelle, the bankruptcy columnist for Bloomberg News, the
New England Compounding Pharmacy Inc. trustee fielded a raft of
objections when he proposed a settlement under which the company's
insurance providers would contribute about $100 million toward
compensation for people who contracted fungal meningitis after
being injected with NECP's tainted products.

Lawyers for about 170 plaintiffs in Virginia and Tennessee
objected because they say the NECP trustee didn't provide factual
or legal explanations of why an insurance company could
successfully deny coverage.  Another group of 95 plaintiffs said
they don't want insurance proceeds from policies covering some
plaintiffs to be thrown into a pot for all plaintiffs, the report
related.

             About New England Compounding Pharmacy

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

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

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

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

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

              - and -

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


NEW WORLD RESOURCES: Files in Manhattan for UK Restructuring
------------------------------------------------------------
New World Resources N.V., the financing vehicle for Dutch company
CERCL Mining B.V., sought bankruptcy protection under Chapter 15
in the U.S. to seek recognition of its voluntary restructuring
proceedings in the United Kingdom.

Boudewijn Wentink, the foreign representative, says the Debtor's
ability to repay its debts is entirely dependent on the cash
generated from its operating subsidiaries.  As a result of
depressed global coal prices, these companies have not been able
to generate sufficient operating cash flow to satisfy the
corporate group's financial obligations (obligations primarily
incurred by the Debtor) since the second half of 2012.

Throughout the last year and a half, the Debtor has implemented
numerous operational cost savings measures and has been in
negotiations with its creditors (including negotiations with a
large ad hoc committee of noteholders holding both secured and
unsecured notes).

These negotiations recently resulted in an agreed framework for a
financial restructuring that, if approved by one or both classes
of noteholders in accordance with the requisite consent thresholds
and the Chancery Division (Companies Court) of the High Court of
Justice of England and Wales, will be implemented through a scheme
of arrangement in the United Kingdom.

Only two classes of the Debtor's creditors -- its secured
noteholders and its unsecured noteholders -- will have their
rights affected by, and will vote on, the Scheme. Under applicable
English law, at least 75% in amount and a majority in number of
the creditors in a class of claims (who are present and voting in
person or by proxy) at the creditors' meeting, must vote to
approve the Scheme in order for it to become binding on all
creditors in such class.

To date, holders of approximately 85% of the outstanding secured
notes and approximately 65% of the outstanding unsecured notes
have already entered into a lockup and restructuring agreement
with the Debtor pursuant to which they have agreed to vote in
favor of the Scheme.  The Debtor thus expects the Scheme to be
approved by both classes of notes.

The Debtor is seeking to stop creditor actions in the U.S.  The
Debtor has assets in the form of funds held in an account at
Citibank N.A. in New York, New York, and the indentures governing
the notes that will be adjusted pursuant to the Scheme are
governed by New York law.

                     About New World Resources

New World Resources N.V. is owned and controlled by New World
Resources Plc, an English public limited company domiciled in the
Netherlands that is admitted for trading on the London Stock
Exchange, where it maintains a Premium Listing, along with the
Warsaw Stock Exchange and the Prague Stock Exchange.

The ultimate parent and indirect majority owner of NWR is CERCL
Mining B.V., a privately-held Dutch company, which owns a
controlling majority of the shares of NWR Plc.

NWR's primary role in its corporate group has been to issue debt
(primarily in the form of secured and unsecured notes) and to loan
the corresponding proceeds to its wholly-owned operating
subsidiaries.  These operating subsidiaries conduct coal mining
and exploration operations in the Czech Republic and Poland.  The
operating subsidiary conducting mining operations in the Czech
Republic is critical to the local economy in that country.
Collectively, these operating subsidiaries employee over 11,500
workers (and utilize an additional 3,000 contractors), and many
major steel groups -- including some operating in the U.S. -- are
reliant on their coal.

As of July 15, 2014, NWR had outstanding gross external debt of
approximately EUR825 million (exclusive of amounts it owes under
certain intercompany obligations).  Of this debt, EUR500 million
in principal amount plus accrued interest is owed to the
beneficial holders of the 7.875% Senior Secured Notes due May 1,
2018.  NWR also owes EUR275 million in principal amount plus
accrued interest to the beneficial holders of its 7.875% Senior
Unsecured Notes due January 15, 2021.

NWR applied to the Chancery Division (Companies Court) of the High
Court of Justice of England and Wales, on July 28, 2014, for an
order directing it to convene separate meetings for two classes of
creditors only, namely, the existing senior secured noteholders
on the one hand, and the existing senior unsecured noteholders.

NWR filed a Chapter 15 bankruptcy petition (Bankr. S.D.N.Y. Case
No. 14-12226) in Manhattan, New York on July 30, 2014, to seek
recognition of the UK proceeding.

Neither the Debtor's parent nor any of its operating subsidiaries
have commenced insolvency proceedings in the UK Court or any other
court within any jurisdiction.

The U.S. case is assigned to Judge Stuart M. Bernstein.


NEWPAGE CORP: S&P Retains 'B+' CCR on CreditWatch Negative
----------------------------------------------------------
Standard & Poor's Ratings Services said that its ratings on
Memphis, Tenn.-based paper producer NewPage Corp., including the
'B+' corporate credit rating, remain on CreditWatch with negative
implications.  S&P placed the ratings on CreditWatch on Jan. 8,
2014, after the company announced it had reached an agreement to
be acquired by competitor Verso Paper Holdings LLC.

NewPage had agreed to be acquired by lower-rated competitor Verso
for $1.4 billion.  The transaction, which S&P expects to close in
the second half of 2014, is subject to certain conditions
including a Department of Justice review and the successful
consummation of exchange offers for Verso's fixed-rate second-lien
notes and subordinated notes.  It is S&P's understanding that
Verso's exchange offers expired and that the company satisfied the
minimum participation conditions.

Both Memphis, Tenn.-based NewPage and Miamisburg, Ohio-based Verso
are large coated paper manufacturers.  Combined, S&P expects the
companies will have about $4.5 billion of annual sales.  A
substantial portion of these sales are to catalog and magazine end
users that S&P believes is susceptible to substitution risk due to
changing consumer preferences for electronic content.

"We expect to resolve the CreditWatch placement on NewPage when
Verso completes its acquisition, which we expect to occur later in
2014.  At that time, it is likely we would lower our rating on
NewPage by at least one notch," said Standard & Poor's credit
analyst James Fielding.


NN INC: S&P Assigns 'B+' CCR & Rates $350MM Secured Loan 'B+'
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' corporate
credit rating to Johnson City, Tenn.-based high precision metal
component manufacturer NN Inc.

At the same time, S&P assigned its 'B+' issue rating and '3'
recovery rating to the company's proposed $350 million senior
secured term loan.  The '3' recovery rating indicates S&P's
expectation for meaningful recovery (50%-70%) in a payment default
scenario.  The company will use the debt proceeds to partly
finance the acquisition of Autocam Corp. (not rated).  The
transaction also includes a new $100 million asset-based revolver
(not rated) that would be undrawn at close.

"Our 'B+' corporate credit rating on NN reflects the company's
participation in the volatile and competitive global auto supplier
industry," said Standard & Poor's credit analyst Robyn Shapiro.
"We expect debt to EBITDA of about 4x in by year-end 2014."

S&P's rating is also based on NN's relatively small scale and
narrow product scope as a high precision metal component
manufacturer in the highly cyclical global auto industry.  The
industry is characterized by high fixed costs, capital intensity,
and continuing pricing pressure from customers and competitors.
S&P believes that NN's revenue growth will relate to the pace of
auto production globally, which we believe will be positive.  Pro
forma for the acquisition of Autocam, approximately 70% of NN's
sales will be to the light vehicle end market.

The stable outlook reflects S&P's expectations that global light-
vehicle demand will allow revenues to increase and NN's EBITDA
margins will improve as a result of the proposed Autocam
acquisition.  S&P believes that these factors will keep leverage
below 5x and generate free cash flow to debt of at least 5%.

S&P could raise the rating during the next 12 months if it expects
free cash flow to debt to improve above 10% on a sustained basis,
along with adjusted debt leverage below 4x.

S&P could lower the rating during the next 12 months if light
vehicle demand weakens unexpectedly in North America and Europe,
and if it appears that NN's debt to EBITDA would rise above 5x on
a sustained basis or that its FOCF to debt will fall to less than
5%.  Alternatively, S&P could lower the rating if NN finances a
major acquisition or completes a distribution to shareholders that
increases leverage above 5x without prospects for rapidly reducing
debt.


OHANA GROUP: Bush Strout & Kornfeld Withdraws as Counsel
--------------------------------------------------------
The Bankruptcy Court, having reviewed the files and records and
finding that good cause exists, grants Bush Strout & Kornfeld LLP
leave to withdraw as counsel for Ohana Group, LLC.

James L. Day, Esq., at Bush Strout & Kornfeld LLP, in Seattle,
Washington, relates that counsel's withdrawal is effective
immediately.

Withdrawing counsel's contact details are:

     James L. Day, Esq.
     Bridget G. Morgan, Esq.
     BUSH STROUT & KORNFELD LLP
     5000 Two Union Square
     601 Union Street
     Seattle, WA 98101-2373
     Telephone (206) 292-2110
     Facsimile (206) 292-2104

                       About Ohana Group LLC

Ohana Group LLC, in Seattle, Washington, filed for Chapter 11
bankruptcy (Bankr. W.D. Wash. Case No. 12-21904) on Nov. 30, 2012.
Judge Marc Barreca oversees the case.  James L. Day, Esq., at Bush
Strout & Kornfeld LLP, served as bankruptcy counsel.  In its
petition, the Debtor scheduled $16,000,000 in assets and
$11,696,131 in liabilities.


OHANA GROUP: Prior Counsel Asks Court to Convert Case to Chapter 7
------------------------------------------------------------------
Bush Strout & Kornfeld LLP, an unsecured creditor holding an
allowed but unpaid administrative expense claim, asks the
Bankruptcy Court to convert the Chapter 11 case of Ohana Group,
LLC, to a case under Chapter 7 of the Bankruptcy Code.

Bush Strout & Kornfeld is prior bankruptcy counsel to Ohana. On
December 20, 2013, counsel successfully obtained confirmation of a
consensual plan of reorganization for Ohana.

The confirmed plan required that all administrative expenses
claims be paid on the later of the effective date of the plan or
the date the claim is allowed. As of confirmation, counsel held an
allowed but unpaid claim for $127,349. Since that time, the Court
has approved counsel's application resulting in a total amount
owed of $99,852.

James L. Day, Esq., at Bush Strout & Kornfeld LLP, in Seattle,
Washington, relates that despite numerous demands and months of
effort seeking Ohana's cooperation in paying the outstanding
balance, Ohana has continually refused to do so.

In addition, Peter Shorett and Insignia Kidder Mathews hold an
allowed administrative expense claim against Ohana for $6,800 from
Mr. Shorett's work as Ohana's valuation expert. Mr. Day asserts
that despite numerous requests that this amount be paid, Ohana has
failed and refused to do so. Bush Strout & Kornfeld also has
offered to pay Mr. Shorett from funds it holds as a retainer, but
Ohana has refused to authorize counsel to do so.

The confirmed plan also contains detailed provisions for the
treatment of the claim of Ohana's secured lender. The lender
alleges numerous defaults under the confirmed plan. These defaults
have apparently risen to such a level that the lender has
commenced a non-judicial foreclosure of its deed of trust against
Ohana's sole asset, its office building in Fremont. Mr. Day notes
that if that sale goes forward and the property is sold, Ohana
will be left with no assets and no cash flow and unsecured
creditors such as Bush Strout & Kornfeld and Mr. Shorett will have
no source for recovery on their claims.

According to Mr. Day, Ohana is in material default under its plan,
both as to its secured lender and as to holders of allowed
administrative expense claims. The effective date of the plan was
January 7, 2014, and yet five and a half months later no payment
on any allowed administrative expense claims has been made.

Mr. Day points out that it appears that conversion of the case to
Chapter 7 would bring with it a new automatic stay, which would
remove the near-term risk of loss of the property due to the
trustee's sale. There might also be a return on equity as well. In
addition, counsel negotiated a provision in the confirmed plan by
which the property can be sold any time until January 1, 2015,
without payment of the significant prepayment penalty that would
otherwise be payable. This is a significant benefit to all parties
that a trustee could obtain for creditors, says Mr. Day.

                   Wells Fargo Reserves Rights

Wells Fargo Bank, N.A., as trustee for the registered holders of
Credit Suisse First Boston Mortgage Securities Corp., commercial
mortgage pass-through certificates, series 2007-C5, reserves its
rights to oppose or comment on the conversion request of Bush
Strout & Kornfeld.

Alan M. Feld, Esq., at Sheppard, Mullin, Richter & Hampton LLP, in
Los Angeles, California, relates that in light of all the pending
matters before the Court including Wells Fargo's request for
appointment of a custodial receiver and Ohana's request for a
preliminary injunction to enjoin the pending non-judicial
foreclosure sale, it is premature for the noteholder to take
substantive position on the conversion request.

Wells Fargo is represented by:

     Alan M. Feld, Esq.
     Theodore A. Cohen, Esq.
     SHEPPARD, MULLIN, RICHTER & HAMPTON LLP
     333 South Hope Street, 43rd Floor
     Los Angeles, CA 90071
     Telephone: 213-620-1780
     Facsimile: 213-620-1398

                       About Ohana Group LLC

Ohana Group LLC, in Seattle, Washington, filed for Chapter 11
bankruptcy (Bankr. W.D. Wash. Case No. 12-21904) on Nov. 30, 2012.
Judge Marc Barreca oversees the case.  James L. Day, Esq., at Bush
Strout & Kornfeld LLP, served as bankruptcy counsel.  In its
petition, the Debtor scheduled $16,000,000 in assets and
$11,696,131 in liabilities.


PRODUCTION RESOURCE: S&P Rates New $150 Million Term Loan 'CCC+'
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'CCC+' corporate
credit rating on Armonk, N.Y.-based live entertainment equipment
and service provider Production Resource Group Inc. (PRG).  The
outlook is negative.

At the same time, S&P assigned the company's asset-based revolver
a 'B' issue-level rating, with a recovery rating of '1',
indicating S&P's expectation for very high (90% to 100%) recovery
in the event of a payment default.

In addition, S&P assigned the new $150 million term loan an issue-
level rating of 'CCC+', with a recovery rating of '4', indicating
its expectation for average (30% to 50%) recovery in the event of
a payment default.

PRG has used the proceeds from the term loan issuance to pay down
$143 million of the current drawings on the $250 million revolver.
The transaction improves liquidity, which enables the company to
make strategic asset purchases to bolster operating profitability.
However, S&P maintains its view that the company is currently
vulnerable and depends on favorable business, financial, and
economic conditions to meet its financial commitments.

"While we do not expect PRG to face a credit or payment crisis
within 12 months, we view the capital structure as unsustainable
in the long term, given the current insufficiency of cash flow
from operations to fund outlays on capital expenditures," said
Standard & Poor's credit analyst Peter Bourdon.  "We expect that
this will result in negative discretionary cash flow in 2014, as
it did in 2012 and 2013.  The potential for acquisitions is an
additional factor that could drain liquidity in 2014."

PRG operates in a capital-intensive industry (production of
concert tours and other large-scale staged events) that is highly
fragmented and competes based on price.  The company is also
subject to the unpredictable nature of the concert tour business,
economic cyclicality, and short average runs of musicals and
plays.  These factors support Standard & Poor's view of PRG's
business risk profile as "vulnerable."  First-half revenue
increased marginally year over year as a result of increased U.S.
theater, concert touring, special events, and trade show business,
and improved performance in Europe.  These improvements largely
offset decreased revenue in the film and television market in the
Americas and shortfalls in the company's Asian and Australian
operations.  S&P views the company's management and governance as
"weak" because of the company's inability to reverse negative
discretionary cash flow over the last two years, which is mostly
due to the high capital expenditure nature of the business.

As of Dec. 31, 2013, the company's adjusted leverage was roughly
8x.  In order to maintain the business and drive growth, the
company invests about 8% to 10% of annual revenue in capital
expenditures and pursues smaller acquisitions.  Given the negative
discretionary cash flow because of high capital expenditures and
potential for additional cash outflows for acquisitions, S&P views
the capital structure as unsustainable over the long term, and
view PRG's financial risk profile as "highly leveraged."


RAAM GLOBAL: S&P Lowers Corp. Credit Rating to 'CCC+'
-----------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
and senior secured ratings on exploration and production company
RAAM Global Energy Co. to 'CCC+' from 'B-'.  The outlook is
negative.

"The downgrade reflects our assessment that Lexington, Ky.-based
RAAM Global Energy Co. could have difficulty refinancing its $250
million senior secured notes due October 2015 due to weak
operating performance, largely due to unexpected production
declines on its Yegua wells that have resulted in weakening
liquidity and limited near-term growth potential.  These factors
result in a liquidity assessment of "weak." Ratings also include
our assessment of RAAM's business risk profile as "vulnerable" and
financial risk profile as "highly leveraged"," S&P noted.

The negative outlook reflects the potential to lower ratings
should RAAM have difficulty addressing refinancing risk as it
pertains to its $250 million senior secured notes due Oct. 1,
2015.

"RAAM's weak operating performance year to date in 2014 could make
refinancing its bonds difficult unless it can stabilize its
operating performance and begin to restore production levels in
the near term.  RAAM's ability to do this could be challenged by
its limited liquidity available for growth and need to form joint
ventures or other means to help fund spending," said Standard &
Poor's credit analyst Paul Harvey.  "Furthermore, a refinancing
will depend on capital markets remaining robust, which could be
susceptible to global disturbances such as currently with Russia
and the Middle East, among other political and economic factors."

S&P could lower ratings if RAAM does not have a plan to refinance
the notes by the beginning of 2015, at which time the notes will
be current and refinancing concerns mount.

S&P could stabilize ratings if RAAM is able to both refinance its
notes and establish a credit facility to support ongoing
liquidity.  In addition, S&P would need to expect sustained stable
to improving operational performance.


REAL ESTATE ASSOCIATES: Delists Limited Partnership Units
---------------------------------------------------------
Real Estate Associates Limited VII filed a Form 15 with the U.S.
Securities and Exchange Commission to terminate the registration
of its limited partnership units.  As of July 29, there was no
holder of the security.  As a result of the Form 15 filing, the
Partnership is not anymore required to file periodic reports with
the SEC.

                    About Real Estate Associates

Real Estate Associates Limited VII is a limited partnership which
was formed under the laws of the State of California on May 24,
1983.  On Feb. 1, 1984, the Partnership offered 2,600 units
consisting of 5,200 limited partnership interests and warrants to
purchase a maximum of 10,400 additional limited partnership
interests through a public offering managed by E.F. Hutton Inc.
The Partnership received $39,000,000 in subscriptions for units of
limited partnership interests (at $5,000 per unit) during the
period from March 7, 1984 to June 11, 1985.

The general partners of the Partnership are National Partnership
Investments Corp., a California Corporation, and National
Partnership Investments Associates II.  The business of the
Partnership is conducted primarily by NAPICO, a subsidiary of
Apartment Investment and Management Company, a publicly traded
real estate investment trust.

As of Sept. 30, 2012, and Dec. 31, 2011, the Partnership holds
limited partnership interests in 1 and 11 Local Limited
Partnerships, respectively, and a general partner interest in REA
IV which, in turn, holds limited partnership interests in 3 and 8
additional Local Limited Partnerships, respectively; therefore,
the Partnership holds interests, either directly or indirectly
through REA IV, in 4 and 19 Local Limited Partnerships,
respectively.  The other general partner of REA IV is NAPICO.  The
Local Limited Partnerships own residential low income rental
projects consisting of 403 and 1,237 apartment units at Sept. 30,
2012, and Dec. 31, 2011, respectively.  The mortgage loans of
these projects are payable to or insured by various governmental
agencies.

The Partnership disclosed net income of $13.01 million on $0 of
revenue for the year ended Dec. 31, 2012, as compared with a net
loss of $861,000 on $0 of revenue during the prior year.  The
Company's balance sheet at Sept. 30, 2013, showed $886,000 in
total assets, $18,000 in total liabilities and $868,000 in total
partners' capital.

Ernst & Young LLP, in Greenville, South Carolina, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2012.  The independent auditors noted
that the Partnership continues to generate recurring operating
losses.  In addition, notes payable and related accrued interest
totalling $8.09 million are in default due to non-payment.  These
conditions raise substantial doubt about the Partnership's ability
to continue as a going concern.


RIVER CITY RENAISSANCE: Files for Ch. 11 in Richmond, Virginia
--------------------------------------------------------------
River City Renaissance, LC, and River City Renaissance III, LC,
sought Chapter 11 protection (Bankr. E.D. Va. Case Nos. 14-34080
and 14-34081) in Richmond, Virginia, on July 30, 2014, without
stating a reason.

The cases are assigned to Judge Keith L. Phillips.

The deadline for governmental entities to file proofs of claims is
Jan. 26, 2015.

Richmond, Virginia-based River City Renaissance estimated $10
million to $50 million in assets and debt.  Renaissance III
estimated less than $10 million in assets and debt.

The Debtors have tapped Spotts Fain PC as counsel.


ROCKWELL MEDICAL: Incurs $3.2 Million Net Loss in Second Quarter
----------------------------------------------------------------
Rockwell Medical, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
a net loss of $3.17 million on $13.03 million of sales for the
three months ended June 30, 2014, as compared with a net loss of
$11.86 million on $12.98 million of sales for the same period last
year.

For the six months ended June 30, 2014, the Company incurred a net
loss of $10.97 million on $25.99 million of sales as compared with
a net loss of $27.24 million on $25.32 million of sales for the
six months ended June 30, 2013.

As of June 30, 2014, the Company had $25.88 million in total
assets, $29.79 million in total liabilities and a $3.91 million
total shareholders' deficit.

"We are pleased with our achievements and continued execution,"
stated Mr. Robert L. Chioini, founder, chairman and CEO of
Rockwell Medical.  "We achieved several important goals, including
FDA acceptance of our Triferic NDA with a January 24, 2015 PDUFA
date.  We also received FDA manufacturing approval for Calcitriol,
our generic, low-cost vitamin D injection.  We are working in
preparation of a successful Calcitriol commercial launch, while
continuing to communicate with the FDA for their review for
potential approval of Triferic, our novel iron delivery drug."
Mr. Chioini further stated, "As anticipated, our R&D costs were
reduced significantly.  Our core business is solid and our gross
margins are improving and consistent with our expectations.
CitraPure continues to become the standard of care for dialysate
in the renal market."

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

                         http://goo.gl/IWdk5N

                            About Rockwell

Rockwell Medical, Inc. (Nasdaq: RMTI), headquartered in Wixom,
Michigan, is a fully-integrated biopharmaceutical company
targeting end-stage renal disease ("ESRD") and chronic kidney
disease ("CKD") with innovative products and services for the
treatment of iron deficiency, secondary hyperparathyroidism and
hemodialysis (also referred to as "HD" or "dialysis").

Rockwell's lead investigational drug is in late stage clinical
development for iron therapy treatment in CKD-HD patients.  It is
called Soluble Ferric Pyrophosphate ("SFP").  SFP delivers iron to
the bone marrow in a non-invasive, physiologic manner to
hemodialysis patients via dialysate during their regular dialysis
treatment.

Rockwell Medical reported a net loss of $48.78 million in 2013, a
net loss of $54.02 million in 2012 and a net loss of $21.44
million in 2011.


SCRUB ISLAND: Panel Objects to Firstbank's Bid for Stay Relief
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Scrub Island
Development Group Limited and Scrub Island Construction Limited
filed with the U.S. Bankruptcy Court for the Middle District of
Tampa an objection to Firstbank Puerto Rico's motion for relief
from the automatic stay.

The Bank filed the motion on Dec. 14, 2013, seeking relief from
stay to enforce its remedies, including foreclosure, regarding
substantially all of the Debtors' assets.

The Committee says in a court filing dated July 23, 2014, that the
Bank's adequate protection argument is premised on an alleged
inability of the Debtors to pay basic operating expenses.  The
Bank claims that "this inability to meet even basic operating
expenses threatens the Debtors' ability to continue to operate,
with an adjunct threat to their ability to maintain the value of
Firstbank's collateral, depriving Firstbank of adequate protection
and entitling it to relief from stay."

The Committee argues that the dire predictions raised in the stay
motion regarding the Debtors' inability to fund operations have
proven to be false over the roughly seven months since the filing
of the stay motion.  The Committee says that to the extent the
Debtors experience cash shortfalls going into their upcoming slow
season, the shortfalls are expected to be covered by an
anticipated DIP lending facility.

According to the Committee, the adequate protection argument is
flawed because the focus of adequate protection is to protect a
secured creditor from a diminution in the value of its collateral
while the automatic stay is in effect.  "There is, however, no
evidence in the record of a decline in the Bank's collateral value
since the filing of the petitions.  An inability to cover current
expenses simply does not equate to a diminution in collateral
values, as the Bank would have the Court presume," the Committee
adds.

The Bank claims that its collateral is not necessary for an
effective reorganization.  The Debtors, says the Bank, cannot
confirm a plan because the Bank's deficiency claim will control
the unsecured class and the Debtors will not be able to obtain the
vote on an impaired class of claims.  The Committee counters that
this argument fails to take into account the lender liability
action in which the Debtors seek to, among other things, equitably
subordinate the Bank's claims.  As of the filing of this
objection, the Committee has sought to intervene in the lender
liability action and to subordinate the claims of the Bank to the
claims of all the Debtors' other creditors, as well as seek a
transfer of the Bank's liens to the Debtors' estates.

In light of the lender liability action, it is far from given that
the Bank will hold a deficiency claim that controls voting in the
cases, the Committee says.

The Bank argues that its collateral is not necessary for an
effective reorganization because the Debtors cannot confirm a plan
due to feasibility.  The Debtors, according to the Bank, will not
be able to make appropriate cramdown payments ultimately required
to be paid on account of its secured claim, an argument that the
Committee says fails to take into account the pending lender
liability action and the prospect that it may lose its lien
altogether under Section 510(c)(2) of the Bankruptcy Code.

                         About Scrub Island

Scrub Island Development Group Ltd., the owner of a British Virgin
Islands luxury resort, and its affiliate, Scrub Island
Construction Limited, sought bankruptcy protection (Bankr. M.D.
Fla. Case Nos. 13-15285 and 13-15286) on Nov. 19, 2013, to end a
receivership Scrub Island claims was secretly put in place by its
lender.  The bankruptcy case is assigned to Judge Michael G.
Williamson.

The 230-acre resort operates as a Marriott Autograph Collection
property.  It has 52 rooms and suites, a spa and a 55-slip marina.

Scrub Island Development Group scheduled $125,569,235 in total
assets and $130,695,731 in total liabilities.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Debtors are represented by Charles A. Postler, Esq., and
Harley E. Riedel, Esq., at Stichter, Riedel, Blain & Prosser, in
Tampa, Florida.

FirstBank Puerto Rico, the Debtor's prepetition secured lender, is
represented by W. Keith Fendrick, Esq., at Holland & Knight LLP,
in Tampa, Florida.

The Official Committee of Unsecured Creditors appointed in Scrub
Island's cases has retained Robert B. Glenn, Esq., Edwin G. Rice,
Esq., and Victoria D. Critchlow, Esq., at Glenn Rasmussen, P.A.,
as general counsel.


SEALED AIR: S&P Assigns 'BB+' Rating on $2.13-Bil. Secured Loans
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' issue rating
and '2' recovery rating to Sealed Air Corp.'s $2.13 billion senior
secured credit facilities.  The '2' recovery rating indicates
S&P's expectation of substantial (70% to 90%) recovery in the
event of a payment default.

All S&P's other ratings on Sealed Air, including the 'BB'
corporate rating, remain unchanged.  The outlook remains stable.

The company shall use the proceeds to refinance its existing
revolver, term loan A, and term loan B borrowings, and for related
fees and expenses.

S&P's 'BB' corporate credit rating on Sealed Air Corp. is based on
its assessment of the company's "strong" business risk and
"aggressive" financial risk profile.  S&P applies a downward
adjustment of one notch for comparable rating analysis.

RATINGS LIST

Sealed Air Corp.
Corporate Credit Rating         BB/Stable/--

New Rating

Sealed Air Corp.
$2.13 Bil. Sr Sec. Credit Fac   BB+
  Recovery Rating                2


SEQUENOM INC: Earns $4.4 Million in Second Quarter
--------------------------------------------------
Sequenom, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net
earnings of $4.45 million on $39.78 million of net diagnostic
services revenue for the three months ended June 30, 2014, as
compared with a net loss of $31.02 million on $24.52 million of
net diagnostic services revenue for the same period last year.

For the six months ended June 30, 2014, the Company reported a net
loss of $11.22 million on $76.84 million of net diagnostic
services revenue as compared with a net loss of $60.38 million on
$53.60 million of net diagnostic services revenue for the same
period in 2013.

As of June 30, 2014, the Company had $131.60 million in total
assets, $180.92 million in total liabilities and a $49.31 million
total stockholders' deficit.

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

                        http://goo.gl/aQZDcs

                          About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions.  Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets.  The company was founded in 1994 and is
headquartered in San Diego, California.

Sequenom incurred a net loss of $107.40 million in 2013, a net
loss of $117.02 million in 2012 and a net loss of $74.13
million in 2011.


SEQUENOM INC: Posts $4.4 Million Net Earnings in Second Quarter
---------------------------------------------------------------
Sequenom, Inc., reported net earnings of $4.45 million on $39.78
million of net diagnostic services revenue for the three months
ended June 30, 2014, as compared with a net loss of $31.02 million
on $24.52 million of net diagnostic services revenue for the same
period in 2013.

For the six months ended June 30, 2014, the Company incurred a net
loss of $11.22 million on $76.84 million of net diagnostic
services revenue as compared with a net loss of $60.38 million on
$53.60 million of net diagnostic services revenue for the same
period last year.

As of June 30, 2014, the Company had $131.60 million in total
assets, $180.92 million in total liabilities and a $49.31 million
total stockholders' deficit.

"We are pleased with the steady improvements in reimbursements and
collections resulting in increased revenues," said Carolyn Beaver,
chief financial officer, Sequenom.  "We will continue to evaluate
our collection history with the goal to move to accrual accounting
for additional payors.  We also remain focused on our cost
improvement initiatives as we look to continue to build value for
our shareholders."

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

                         http://is.gd/OC6zap

                           About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions.  Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets.  The company was founded in 1994 and is
headquartered in San Diego, California.

Sequenom incurred a net loss of $107.40 million in 2013, a net
loss of $117.02 million in 2012 and a net loss of $74.13
million in 2011.


SG ACQUISITION: S&P Affirms 'B' CCR & Rates $225MM Loans 'B'
------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' long-term
corporate credit rating on SG Acquisition Inc. (SGA). The outlook
is stable.  At the same time, S&P assigned a 'B' issue-level
rating to the proposed $210 million senior secured term loan and
$15 million revolver.  The recovery rating is '3', indicating
S&P's expectation for average (50% to 70%) recovery for lenders in
the event of a payment default.  The company will use proceeds of
the term loan to refinance its existing term loan.  S&P expects
essentially no change in total debt outstanding and for pro-forma
debt leverage to be near 5.0x.

SGA's fair business profile reflects its narrow focus on the
ancillary finance and insurance (F&I) market, relatively small but
growing revenue base, and client concentration.  In this context,
its market position is favorable, with leading or top-5 market
positions for most of its products.  SGA is the parent holding
company for Safe-Guard Products International LLC (Safe-Guard), a
third-party administrator (TPA) of claims and provider of
ancillary F&I solutions for the motor vehicle industry.  The
company also wholly owns captive reinsurer Safe-Guard Reinsurance
Co. Ltd., a source of some underwriting risk through reinsurance
arrangements with fronting insurance carriers.  S&P expects gross
revenue to grow significantly in 2014, but we believe meaningful
concentrations by product and client will still exist.

SGA has, in S&P's view, a highly levered financial risk profile,
based on its pro-forma leverage and coverage metrics.  S&P
characterizes its financial policy as very aggressive, stemming
from its financial sponsor ownership and related recapitalization.
From an accounting perspective, S&P adjusts reported revenue and
EBITDA to reflect accounting that more precisely approximates cash
flows, primarily by fully recognizing revenue and costs upon
receipt of the contract (that is, no deferral of revenue or
capitalization of expenses).  S&P thinks this is necessary due to
the accounting mismatch created by applying U.S. generally
accepted accounting principles (GAAP). U.S. GAAP defers the
earning of revenue generally over the coverage period, whereas
most agent commissions which are fully expensed in the year they
are incurred.

S&P's stable outlook reflects its expectation that SGA's pace of
organic growth will be strong for 2014 and then moderate for 2015.
But it could be bolstered somewhat through acquisitions or the
expansion of its product line with current clients.  S&P also
expects SGA to continue to reflect strong customer retention
rates, which is a key component of its business risk profile.

S&P could lower the rating if SGA were to lose one of its large
clients resulting in gross revenues falling by 20% or more.  S&P
could also lower the rating if it came to view SGA's liquidity as
less than adequate, if the bank covenant cushion fell to 10% or
less, or if its sustained adjusted debt-to-EBITDA ratio were more
than 6.0x.

S&P could raise the rating if SGA reduces debt leverage to less
than 4.0x, and it subsequently believed it would remain there.
This could occur if SGA meaningfully reduces its debt burden and
improves its adjusted EBITDA margin, which S&P do not expect
through 2015.


SMHC LLC: Plan Confirmation Hearing on Sept. 9
----------------------------------------------
Judge Marci B. McIvor of the U.S. Bankruptcy Court for the Eastern
District of Michigan, Southern Division, has entered an order
granting preliminary approval of the disclosure statement
explaining the plan of reorganization of SMHC, L.L.C., and Value
Homes, LLC, and scheduled a hearing to consider confirmation of
the plan for Sept. 9, 2014, at 10:30 a.m.  The deadline to return
ballots on the Plan and to file objections to final approval of
the disclosure statement and confirmation of the Plan is extended
to Sept. 4.

The confirmation hearing was previously scheduled for July 15, but
was adjourned by Judge McIvor at the agreement between the Debtors
and Talmer Bank and Trust.  The Debtors and the bank said they
need the additional time to reach a resolution of the bank's
potential objection to the Plan and Disclosure Statement.  Talmer
requested the opportunity to perform due diligence regarding the
Debtors' operations and certain aspects of the Plan.

Under the Plan, Talmer's Allowed Secured Claim, which total
approximately $18,208,244, will be re-amortized over a 15-year
period and will accrue interest rate of 4%.  The remaining portion
of Talmer's Claims will constitute unsecured claims, which won't
be paid by the Debtors.  To satisfy Signature's Claims, which
total $948,838, Signature will continue to receive its regular,
monthly payments from Value Homes.  Rights of holders of interests
of the equity security holders will remain intact as they existed
as of the Petition Date.

A full-text copy of the Plan dated June 6 is available at
http://bankrupt.com/misc/SMHCLLCplan0606.pdf

SMHC LLC, owner and operator of eight manufactured home parks in
the southern half of Michigan's Lower Peninsula, sought protection
under Chapter 11 of the Bankruptcy Code on April 1, 2014.  The
case is In re SMHC LLC, Case No. 14-45579 (E.D. Mich.).  The
case is assigned to Judge Marci B. McIvor.  The Debtor's counsel
is Jason W. Bank, Esq., at Kerr, Russell and Weber, PLC, in
Detroit, Michigan; and Daniel G. Byrne, Esq., at Kerr, Russell and
Weber, PLC, in Detroit, Michigan.

The Debtor disclosed $14,407,518 in assets and $18,211,672 in
liabilities as of the Chapter 11 filing.


STACEY ELECTRIC: Files Bankruptcy; Creditors Meeting on Aug. 12
---------------------------------------------------------------
Stacey Electric Company Limited filed for bankruptcy in Ontario on
July 22, 2014.  The first meeting of creditors in that case is set
for Aug. 12, 2014, at 10:00 a.m. at the Office of the Trustee at
2300 Yonge Street, Suite 1701, in Toronto.

The Trustee may be reached at:

     James Williams & Associates Inc.
     2300 Yonge Street, Suite 1701
     Toronto, ON M4P 1E4


TACTICAL INTERMEDIATE: Sec. 341 Creditors' Meeting Set for Aug. 11
------------------------------------------------------------------
The U.S. Trustee for Region 3 will convene a meeting of creditors
pursuant to 11 U.S.C. 341(a) in the Chapter 11 case of Tactical
Intermediate Holdings, Inc. on Aug. 11, 2012, at 10:30 a.m.  The
meeting will be held at J. Caleb Boggs Federal Building, at 844
King Street, Wilmington DE 19801.

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

                    About Tactical Intermediate

Tactical Intermediate Holdings, Inc., and its affiliates'
operations are comprised of two major lines of business -- a
footwear line, and a fabric and clothing line, including flame
resistant material ("Massif").

Footwear is comprised of the Altama group ("Altama") and the
Wellco Group ("Wellco").  Wellco was founded in 1941 and
manufactures and sells combat boots, primarily for the United
States Military as well as commercial uniform and work boots for a
variety of customers.  Altama was founded in 1969 and manufactures
and sells boots for the United States and international militaries
as well as for federal, state and local agencies, military
schools, police, uniform shops and Army/Navy retailers.

Headquartered in Ashland, Oregon, Massif was founded in 1999 by a
group of veteran search and rescue team members and alpine
climbers who believed that the options for sanctioned fire
resistant protective gear at the time were too limited.  Massif is
a world leader in supplying flame resistant and high performance
outdoor apparel to the military, law enforcement, search and
rescue professionals, and the wildland firefighting community.

Tactical Intermediate Holdings, Inc., and its affiliates sought
Chapter 11 protection in Delaware on July 8, 2014, with plans to
quickly sell their assets.

Judge Kevin Gross is assigned to the Chapter 11 cases.  The
Debtors have requested joint administration of the cases under
Case No. 14-11659.

The Debtors have tapped Klehr Harrison Harvey Branzburg LLP as
counsel, FTI Consulting, Inc., as financial advisor, Houlihan
Lokey Capital, Inc., as investment banker, and PrimeClerk as
claims and noticing agent.

Massif Apparel Enterprises LLC, the entity formed by Sun Capital
Partners Group V LLC, to serve as stalking horse bid for Massif's
assets, is represented by Corey Fox, Esq., Brad Weiland, Esq., and
Gregory F. Fesce, Esq., at Kirkland & Ellis LLP.


TACTICAL INTERMEDIATE: 3-Member Creditor's Committee Formed
-----------------------------------------------------------
Roberta a. DeAngelis, the U.S. Trustee for Region 3, appointed
three members to serve in the official committee of unsecured
creditors in the Chapter 11 cases of Tactical Intermediate
Holdings, Inc., et al.

The Creditors Committee members are:

     1.  W.L. Gore and Associates, Inc.,
         Attn: Robin Brewer
         551 Papermill Road, Newark, DE 19711
         Tel: (410) 506-5048
         Fax: (410) 506-5476

      2. Tasman Leather Group, LLC
         c/o Tasman Industries, Inc.
         Attn: David Ernstberger
         930 Geiger Street, Louisville, KY 40206
         Tel: (502) 357-2533
         Fax: (502) 581-0697

      3. CaribEx Worldwide
         4248 Piedmont Parkway, Greensboro, NC 27410
         Tel: (336) 315-0443
         Fax: (336) 315-0529

                 About Tactical Intermediate

Tactical Intermediate Holdings, Inc., and its affiliates'
operations are comprised of two major lines of business -- a
footwear line, and a fabric and clothing line, including flame
resistant material ("Massif").

Footwear is comprised of the Altama group ("Altama") and the
Wellco Group ("Wellco").  Wellco was founded in 1941 and
manufactures and sells combat boots, primarily for the United
States Military as well as commercial uniform and work boots for a
variety of customers.  Altama was founded in 1969 and manufactures
and sells boots for the United States and international militaries
as well as for federal, state and local agencies, military
schools, police, uniform shops and Army/Navy retailers.

Headquartered in Ashland, Oregon, Massif was founded in 1999 by a
group of veteran search and rescue team members and alpine
climbers who believed that the options for sanctioned fire
resistant protective gear at the time were too limited.  Massif is
a world leader in supplying flame resistant and high performance
outdoor apparel to the military, law enforcement, search and
rescue professionals, and the wildland firefighting community.

Tactical Intermediate Holdings, Inc., and its affiliates sought
Chapter 11 protection in Delaware on July 8, 2014, with plans to
quickly sell their assets.

Judge Kevin Gross is assigned to the Chapter 11 cases.  The
Debtors have requested joint administration of the cases under
Case No. 14-11659.

The Debtors have tapped Klehr Harrison Harvey Branzburg LLP as
counsel, FTI Consulting, Inc., as financial advisor, Houlihan
Lokey Capital, Inc., as investment banker, and PrimeClerk as
claims and noticing agent.

Massif Apparel Enterprises LLC, the entity formed by Sun Capital
Partners Group V LLC, to serve as stalking horse bid for Massif's
assets, is represented by Corey Fox, Esq., Brad Weiland, Esq., and
Gregory F. Fesce, Esq., at Kirkland & Ellis LLP.


TALOS ENERGY: S&P Revises Outlook to Positive & Affirms 'B-' CCR
----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its rating
outlook to positive from stable on Houston-based Talos Energy LLC
and affirmed its 'B-' corporate credit rating on the company.

S&P's issue rating on the company's unsecured notes remains 'CCC+'
(one notch lower than the corporate credit rating).  The recovery
rating on these notes remains '5', reflecting S&P's expectation of
modest (10% to 30%) in the event of a payment default.  Although
S&P do not currently anticipate a meaningful change in recovery
prospects for senior unsecured noteholders following the
completion of the planned asset acquisition, S&P will reassess the
recovery rating following an updated company-provided PV-10 under
its recovery methodology, inclusive of the acquired assets and
reflective of any revisions to the borrowing base.

The positive outlook reflects S&P's view that the acquisition of
Gulf of Mexico assets from Stone Energy meaningfully improves
Talos' size and scale of reserves and production.  Talos is
acquiring these assets for $200 million in cash (which S&P expects
will be reduced for purchase price adjustments from the effective
date) and future undiscounted abandonment liabilities estimated to
be $117 million.  The transaction is expected to close in early
August and has an effective date of April 1, 2014.

"The outlook is positive to reflect the potential for an upgrade
in the next 12 months if the company is able to increase
production and reserves through the development of its existing
and acquired asset base while maintaining solid credit measures,"
said Standard & Poor's credit analyst Marc Bromberg.

S&P could raise the rating to 'B' if Talos continues to execute
its development program, with production, costs, and spending in
line with S&P's current expectations.  S&P also expects that the
proved developed reserve to production ratio will remain at least
at current levels, in the mid-4x area.  In addition, an upgrade
will depend on prudent management of acquisitions such that FFO to
debt will remain at least 20%.  S&P also expects that Talos will
continue to maintain adequate liquidity.

S&P could revise the outlook to stable if the company is unable to
maintain production, costs, or spending in line with its current
forecast.  S&P could foresee such a scenario if the company
encounters takeaway issues in the Gulf, if the integration of
Stone assets fails to meet our expectations (i.e., higher costs or
lower production than forecast), or if the company's spending
program is higher than contemplated without a commensurate
increase in production.


TRINITY COAL: Unit Can't Reject Agreements With ICG Entities
------------------------------------------------------------
Bankruptcy Judge Tracey N. Wise in Lexington, Ky., said Little Elk
Mining Company, LLC, a debtor affiliate of Trinity Coal
Corporation, cannot reject agreements with ICG Natural Resources,
LLC and ICG Hazard, LLC.  The Court finds that the agreements
sought to be rejected are part of an indivisible, integrated
property exchange transaction entered into between Little Elk and
the ICG Entities.

Pursuant to 11 U.S.C. Sec. 365, the Debtors move to reject two
contracts with the ICG Entities. The first contract is a Disposal
Agreement dated June 23, 2008, entered into between Little Elk and
the ICG Entities, and second is an Easement Agreement also dated
June 23, 2008, entered into between Little Elk and Hazard.

The ICG Entities raise several objections to the Motion, including
an argument that the ICG Agreements are an indivisible part of a
larger, comprehensive property exchange transaction among the
parties that occurred in June 2008; the ICG Agreements cannot be
severed from that transaction, and thus, cannot be rejected.

The ICG Entities and debtor Little Elk have adjacent coal
properties located in Breathitt County, Perry County, and Knott
County, Kentucky, which they, or their predecessors, acquired in
2004 through separate sales from a prior bankruptcy case. In 2008,
the ICG Entities and Little Elk determined that "the way the
property had been divided in 2004 was in some respects cumbersome
and illogical."  To remedy this, the parties negotiated a
comprehensive property exchange that would allow the companies to
consolidate their property interests and rights in a way that
would facilitate mining and make their respective operations and
properties more logical and workable.  The 2008 Transaction closed
on June 23, 2008, involved approximately 5,500 acres of mineral
properties and was documented by a series of agreements, all as
more particularly described in a master Property Exchange
Agreement.  The purpose of the 2008 Transaction was for the
parties to "exchange certain interests in their respective coal
rights and surface tracts and to take other actions to enable each
of them to conduct their respective coal mining operations more
efficiently."

The ICG Entities are continuing to operate mines on the properties
in which they obtained rights pursuant to the 2008 Transaction,
and they deem continuation of their rights under the ICG
Agreements to be essential to their business operations. Little
Elk has ceased mining operations, and the Debtors have determined
that the ICG Agreements are burdensome to their estates.

A copy of the Court's July 31, 2014 Opinion and Order is available
at http://is.gd/T5CAh5from Leagle.com.


UNIFIED 2020: Has Final Authority to Use Cash Collateral
--------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas,
Dallas Division, gave Unified 2020 Realty Partners, LP, final
authority to use cash collateral securing its prepetition
indebtedness.  The cash collateral will be used to continue the
Debtor's ongoing operations, which involves the ownership and
leasing of infrastructure critical telecommunications companies
and data center facilities.

Daniel J. Sherman, the Chapter 11 Trustee, is also authorized to
collect and receive all accounts receivable and enter into all
agreements pursuant to the terms of the Order necessary to allow
the Trustee to use Cash Collateral subject to the protections and
consideration in the amounts and for the expenses for the period
of May 1 through Aug. 31, 2014.

As of the later of (a) Aug. 5, (b) the date of entry of the
lifting of the automatic stay as to the Collateral, or (c)
June 27, any cash collateral held by the Trustee after payment of
expenses and payments through Aug. 31, will be unencumbered and
cease being Cash Collateral of the Bank's provided further that
income, revenue, proceeds and claims arising out of or related to
the Collateral that is paid to, or received by, the Trustee after
the latter of the specified dates will be the Bank's property.

                    About Unified 2020 Realty

Unified 2020 Realty Partners, LP, was formed in November 2007 to
own the real property and improvements located at 2020 Live Oak
Street, in Dallas, Texas.  The property is comprised of a 12-story
office building and an adjacent three-story parking garage and
annex.

Unified 2020 filed a petition under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Tex. Case No. 13-32425) in its home-town in
Dallas on May 6, 2013.  The petition was signed by Edward Roush as
president of general partner.  Judge Stacey G. Jernigan
presides over the Chapter 11 case.

In its schedules, the Debtor disclosed $280,178,409 in assets and
$46,378,972 in liabilities.

Arthur I. Ungerman, Esq., and Kerry S. Alleyne-Simmons, Esq., at
the Law Office of Arthur Ungerman, in Dallas, Texas, represent the
Debtor.  Peter C. Lewis, Esq., and Jacob W. Sparks, Esq., at
Scheef & Stone, LLP, in Dallas, Texas, represent United Central
Bank.

The Debtor consented to the appointment of a trustee, and on
Aug. 9, 2013, Daniel J. Sherman was appointed as Chapter 11
trustee.  Kevin D. McCullough, Esq., of Rochelle McCullough L.L.P.
serves as general bankruptcy counsel to the trustee.

The Debtor has obtained permission from the Bankruptcy Court to
proceed with the pursuit of its disclosure statement and plan, in
tandem or parallel with any effort by the trustee to propose a
plan.

In January 2014, Unified 2020 Realty Partners withdrew its second
amended disclosure statement, which explains the company's plan of
liquidation.  At that time, the Debtor said it remains involved in
a negotiation process and do not want to impose upon the court's
time by filing another request to continue the disclosure
statement hearing.  United Central Bank objected to the Plan,
saying the Plan is not feasible, much less confirmable within a
reasonable period of time.


USEC INC: ACTDO Agreement Extended Through March 2015
-----------------------------------------------------
USEC Inc. on July 31, 2014, entered into Amendment No. 005 to the
agreement dated May 1, 2014 with UT-Battelle, LLC, as operator of
Oak Ridge National Laboratory, for continued research, development
and demonstration of the American Centrifuge technology in
furtherance of the U.S. Department of Energy's national security
objectives.  Amendment No. 005 exercises the option to extend the
period of performance for the ACTDO agreement by an additional six
months to March 31, 2015 and increases the total price from
approximately $33.7 million to approximately $75.3 million. The
other terms and conditions of the ACTDO Agreement were not changed
by the Amendment.

The ACTDO Agreement provides for continued cascade operations, the
continuation of core American Centrifuge research and technology
activities, and the furnishing of related reports to ORNL. The
agreement is a firm fixed-price contract with a total price of
approximately $75.3 million for the period from May 1, 2014 to
March 31, 2015.  The agreement provides for payments of
approximately $6.7 million per month through September 31, 2014
and approximately $6.9 million thereafter. The ACTDO Agreement is
incrementally funded.  Funds currently allocated to the ACTDO
Agreement are expected to cover the work to be performed through
August 5, 2014.  The agreement also provides ORNL with one
additional option to extend the agreement by six months to
September 30, 2015.  The option is priced at approximately $41.7
million. ORNL may exercise its option by providing notice 60 days
prior to the end of the term of the agreement. The total price of
the contract including options is approximately $117 million.

                       About USEC Inc.

USEC Inc. filed a Chapter 11 bankruptcy petition (Bank. D. Del.
Case No. 14-10475) on March 5, 2014.  John R. Castellano signed
the petition as chief restructuring officer.  The Hon. Christopher
S. Sontchi presides over the case.

D. J. Baker, Esq., Rosalie Walker Gray, Esq., Adam S. Ravin, Esq.,
and Annemarie V. Reilly, Esq., at Latham & Watkins LLP, serve as
the Debtor's general counsel.  Amanda R. Steele, Esq., Mark D.
Collins, Esq., and Michael J. Merchant, Esq., at Richards, Layton
& Finger, P.A., serve as the Debtor's Delaware counsel.  Vinson &
Elkins is the Debtor's special counsel.  Lazard Freres & Co. LLC
acts as the Debtor's investment banker.  AP Services, LLC,
provides management services to the Debtor.  Logan & Company Inc.
serves as the Debtor's claims and noticing agent.  Deloitte Tax
LLP are the Debtor's tax professionals.  The Debtor's independent
auditor is PricewaterhouseCoopers LLP.  KPMG LLP provides fresh
start accounting services to the Debtors.

                          *     *     *

The Court approved the disclosure statement explaining USEC Inc.'s
plan of reorganization on July 7, 2014.  The Confirmation Hearing
is scheduled for Sept. 5, 2014, at 1:00 p.m. (Eastern time).
The Plan Objection Deadline is Aug. 22, and the deadline for
filing a reply to objections to confirmation of the Plan, if any,
is Sept. 2.


VERIS GOLD: Obtains Sept. 4 Extension of CCAA Stay Period
---------------------------------------------------------
Veris Gold Corp. on Aug. 1 disclosed that it has obtained an order
from the Supreme Court of British Columbia extending the period of
the Court-ordered stay of proceeding against Veris and its
subsidiaries under the Companies' Creditors Arrangement Act
("CCAA") up to and including Sept. 4, 2014.  The Company has been
operating under the protection of the CCAA since June 9, 2014.

All inquiries regarding Veris' CCAA proceedings should be directed
to the Monitor, Ernst & Young: Mr. Rocky Ho at (604) 891-8425.
Information about the CCAA proceeding, including copies of all
court orders and the Monitor's reports, is available at the
Monitor's website: www.ey.com/ca/verisgold

                      About Veris Gold Corp.

Veris Gold Corp. is a growing mid-tier North American gold
producer in the business of developing and operating gold mines in
geo-politically stable jurisdictions.  The Company's primary
assets are the permitted and operating Jerritt Canyon processing
plant and gold mines located 50 miles north of Elko, Nevada, USA.
The Company's primary focus is on the re-development of the
Jerritt Canyon mining and processing plant.  The Company also
holds a portfolio of precious metals properties in British
Columbia and the Yukon Territory, Canada, including the Ketza
River Property.

                           *     *     *

As reported in the TCR on April 11, 2013, Deloitte LLP, in
Vancouver, Canada, expressed substantial doubt about Veris Gold's
ability to continue as a going concern, citing the Company's net
losses over the past several years, working capital deficit in the
amount of US$34.3 million and accumulated deficit of
US$379.0 million as at Dec. 31, 2012.


VERSO PAPER: Announces Final Results of Exchange Offer
-----------------------------------------------------
Verso Paper Corp. announced the final results of the exchange
offer and consent solicitation by two of its subsidiaries, Verso
Paper Holdings LLC and Verso Paper Inc. with respect to the
Issuers' outstanding 8.75% Second Priority Senior Secured Notes
due 2019 and the early tender results of the previously announced
exchange offer and consent solicitation by the Issuers with
respect to the Issuers' outstanding 11 3?8% Senior Subordinated
Notes due 2016.

The exchange offers and consent solicitations are being conducted
pursuant to the Agreement and Plan of Merger dated as of Jan. 3,
2014, among Verso, Verso Merger Sub Inc., 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 July 30,
2014, holders of approximately $299.4 million aggregate principal
amount of Old Second Lien Notes have tendered their Old Second
Lien Notes in the Second Lien Notes Exchange Offer, and holders of
approximately $102 million aggregate principal amount of Old
Subordinated Notes have tendered their Old Subordinated Notes in
the Subordinated Notes Exchange Offer.

"We thank our noteholders for their strong support that has helped
us satisfy the minimum participation conditions for the exchange
offers," said Verso President and CEO Dave Paterson.  "We have
made significant progress to completing our acquisition of
NewPage."

These tenders of the Old Second Lien Notes prior to the Second
Lien Notes Expiration Time represent approximately 75.6% of the
aggregate principal amount of the outstanding Old Second Lien
Notes, which exceeds the 75% minimum participation condition for
the Second Lien Notes Exchange Offer.  As a result of the
participation of holders of Old Second Lien Notes in the Second
Lien Notes Exchange Offer, the principal amount of Second Priority
Adjustable Senior Secured Notes following the Merger per $1,000
principal amount of New Second Lien Notes prior to the Merger will
be $593.75.

In addition, the Issuers have received the requisite consents for
the proposed amendments to the indenture pursuant to which the Old
Second Lien Notes were issued, which modify certain restrictive
covenants contained therein.  The Issuers expect to promptly
execute a supplemental indenture that gives effect to these
proposed amendments and will become operative upon the final
settlement of the Second Lien Notes Exchange Offer.
Early Tender Results of Subordinated Notes Exchange Offer
The Issuers received tenders from holders of approximately $102.0
million aggregate principal amount of Old Subordinated Notes prior
to 12:00 midnight, New York City time, at the end of July 30,
2014.  These tenders of the Old Subordinated Notes prior to the
Subordinated Notes Early Tender Time represent approximately 71.6%
of the aggregate principal amount of the outstanding Old
Subordinated Notes, which exceeds the 70% minimum participation
condition for the Subordinated Notes Exchange Offer.  The
Subordinated Notes Exchange Offer will remain open until it
expires as scheduled at 12:00 midnight, New York City time, at the
end of Aug. 6, 2014.

In addition, the Issuers have received the requisite consents for
the proposed amendments to the indenture pursuant to which the Old
Subordinated Notes were issued, which modify certain restrictive
covenants contained therein.  The Issuers expect to promptly
execute a supplemental indenture that gives effect to these
proposed amendments and will become operative upon the early
settlement of the Subordinated Notes Exchange Offer.

The complete terms and conditions of the Subordinated Notes
Exchange Offer remain the same as set forth in the Amended and
Restated Confidential Offering Memorandum and Consent Solicitation
Statement dated July 24, 2014, and the related consent and letter
of transmittal.

                            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.


VIAWEST INC: S&P Puts 'B' CCR on Watch Pos. Over Shaw Comm. Deal
----------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B' corporate credit
rating on Denver-based ViaWest Inc. on CreditWatch with positive
implications.

The CreditWatch placement follows the company's announcement that
it signed a definitive agreement to be acquired by Calgary-based
Shaw Communications Inc. in a transaction valued at $1.2 billion.
The CreditWatch placement on ViaWest reflects the likelihood that
S&P could raise its ratings on the company following the proposed
acquisition by higher-rated Shaw.  S&P's investment-grade rating
on Shaw reflects the company's sizeable cable TV operations, which
serve more than 5 million revenue generating units in five
Canadian provinces.  The transaction is subject to regulatory
approvals in the U.S. with an expected close in September 2014.

Shaw announced it will fund the acquisition with a combination of
cash and borrowings under its existing credit facility.  Following
the transaction close, S&P expects ViaWest to be a wholly owned
subsidiary of Shaw, with ViaWest's existing debt rolled over and
remaining at ViaWest Inc., with no recourse to Shaw.  If Shaw is
unable to amend change of control provisions at the existing
ViaWest facility, S&P expects existing debt would be refinanced at
the ViaWest subsidiary with new debt non-recourse to Shaw.

ViaWest is a colocation, managed and cloud services provider
primarily serving small and midsize enterprise customers in
second-tier metro markets in the U.S., with no current operations
in Canada.  The company is currently controlled by private equity
owners Oak Hill Capital Partners, and GI Partners.

"As part of our review, we will assess ViaWest's overall
creditworthiness on a stand-alone basis, which will incorporate
potential modest benefits to the company's business risk profile
as a result of the transaction, as well as the company's capital
structure and financial policy under public ownership.
Additionally, we will factor in the extent and likelihood of
financial support from Shaw.  As a result, we could raise the
corporate credit rating on ViaWest as high as 'B+', one notch
above the current corporate credit rating," S&P said.


VULCAN MATERIALS: S&P Raises Corp. Credit Rating to 'BB+'
---------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Birmingham, Ala.-based aggregates producer Vulcan
Materials Co. to 'BB+' from 'BB'.  The outlook is stable.  At the
same time, S&P raised the issue-level ratings on the senior notes
one notch to 'BB+' from 'BB'.  The recovery ratings remain
unchanged at '3', indicating S&P's expectation of meaningful (50%
to 70%) recovery in the event of default.

The upgrade reflects the recent debt reduction from the noncore
asset sale, and S&P's expectations for improving industry
fundamentals will improve EBITDA and will result in credit
measures sustained at levels commensurate with an "aggressive"
financial risk profile, with leverage of about 4x and funds from
operations (FFO) to debt of slightly less than 20%.  An
"aggressive" financial risk profile, along with S&P's assessment
of a "strong" business risk profile, supports the 'BB+' corporate
credit rating.

"The stable outlook reflects our expectation that Vulcan's credit
measures will be maintained at levels commensurate with an
"aggressive" financial risk profile, with leverage of about 4x and
FFO to debt below 20% by year-end, with further improvement in
2015," said Standard & Poor's credit analyst Maurice Austin.

An upgrade could occur if debt to EBITDA falls and is sustained
below 4x and FFO to debt rises and is sustained above 20%, levels
in line with a "significant" financial risk profile.  This could
occur if the company obtained mid-single-digit price increases and
double-digit percentage volume growth over the next 12 months.

A negative rating action seems unlikely in the near term, based on
S&P's expectation that construction markets will continue to
improve during 2014.  However, a downgrade could occur if Vulcan
failed to show improvement in its results during the next year,
such that leverage increases above 5x.


WALTER ENERGY: Incurs $151.4 Million Net Loss in 2nd Quarter
------------------------------------------------------------
Walter Energy, Inc., reported a net loss of $151.39 million on
$378.35 million of revenues for the three months ended June 30,
2014, as compared with a net loss of $34.49 million on $441.49
million of revenues for the same period in 2013.

For the six months ended June 30, 2014, the Company incurred a net
loss of $243.56 million on $792.23 million of revenues as compared
with a net loss of $83.93 million on $932.83 million of revenues
for the same period last year.

The Company's balance sheet at June 30, 2014, showed $5.46 billion
in total assets, $4.90 billion in total liabilities and $557.33
million in stockholders' equity.

"Our operations performed well in the second quarter," said Walt
Scheller, chief executive officer.  "We controlled costs, reduced
inventories, and had solid coal production and sales despite
idling our Canadian mines.  In addition, we kept tight control
over our capital spending as well as selling, general and
administrative costs.

"We also improved liquidity and financial flexibility through our
recent successful notes offering," Scheller continued.  "I believe
we have made great strides in positioning the Company to manage
through the current difficult market for met coal."

Available liquidity was $563.9 million at the end of the quarter,
consisting of cash and cash equivalents of $293.5 million plus
$270.4 million in availability under the Company's $313.8 million
revolving credit facilities, net of outstanding letters of credit
of $43.4 million.

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

                      http://goo.gl/VCKsYp

                       About Walter Energy

Walter Energy is a leading, publicly traded "pure-play"
metallurgical coal producer for the global steel industry with
strategic access to high-growth steel markets in Asia, South
America and Europe.  The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.  Walter
Energy employs approximately 2,900 employees with operations in
the United States, Canada and United Kingdom.

                            *    *    *

As reported by the TCR on July 1, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating on Birmingham, Ala.-
based Walter Energy Inc. to 'CCC+' from 'B-'.  S&P believes the
company's capital structure is likely unsustainable in the long-
term absent an improvement in met coal prices.

The TCR reported on July 10, 2014, that Moody's downgraded the
Corporate Family Rating of Walter Energy, Inc., to Caa2 from Caa1.
The downgrade in the corporate family rating reflects the
anticipated deterioration in performance, increased cash burn and
increase in leverage, given the recent met coal benchmark
settlement of $120 per tonne for high quality coking coal and our
expectation that meaningful recovery in metallurgical coal markets
is twelve to eighteen months away.


WALTER ENERGY: Bank Debt Trades at 6% Off
-----------------------------------------
Participations in a syndicated loan under which Walter Energy Inc
is a borrower traded in the secondary market at 94.50 cents-on-
the-dollar during the week ended Friday, Aug. 1, 2014, according
to data compiled by LSTA/Thomson Reuters MTM Pricing and reported
in The Wall Street Journal.  This represents a decrease of 1.00
percentage points from the previous week, The Journal relates.
Walter Energy Inc. pays 575 basis points above LIBOR to borrow
under the facility.  The bank loan matures on March 14, 2018.
The bank debt carries Moody's B3 rating and Standard & Poor's
B- rating.  The loan is one of the biggest gainers and losers
among 249 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Friday.


WORLD PROPERTIES: Must File Plan by Sept. 5 to Avoid Foreclosure
----------------------------------------------------------------
Bankruptcy Judge Albert S. Dabrowski in Connecticut granted, in
part, the request of DF Realty, LLC, for relief from the automatic
stay in the Chapter 11 case of World Properties, LLC.

Judge Dabrowski said the automatic stay of 11 U.S.C. Sec. 362(a)
is modified by conditioning its continuation as follows:

     1. The Debtor shall make full payment of the real estate
property taxes currently due to the Town of Enfield, no later than
August 1, 2014,

     2. On or before September 5, 2014, the Debtor must file a
Disclosure Statement and a Plan of Reorganization that has "a
reasonable possibility of its being confirmed within a reasonable
time" as set forth in Bankruptcy Code Sec. 362(d)(3)(A), and

     3. At least preliminary approval of a zoning change regarding
the Debtor's property from commercial to HD Multi-family from the
town of Enfield, Connecticut will be obtained no later than
November 14, 2014.

In the event the Debtor fails to comply with any one of the terms
set forth, DF may file an affidavit with the Court, and serve on
the Debtor and its counsel, all creditors and the United States
Trustee, indicating the nature of the default and, in the absence
of a counter-affidavit filed by the Debtor's Counsel within 5 days
of service of the Affidavit, limited to controverting the
existence of the Default, the Court will enter an Order granting
relief from the stay to permit DF, and/or its successors and
assigns, to commence, continue and prosecute to judgment a
foreclosure action and otherwise exercise its rights, if any, with
respect to the Property in accordance with applicable state law.

DF asserts a claim secured by an interest in the Debtor's real
estate consisting of 136 acres of undeveloped real property on the
easterly side of King Street (Route 5) situated in the Town of
Enfield, State of Connecticut, also known as 1697 King Street,
Enfield, Connecticut.

When it filed for bankruptcy, the Debtor designated the nature of
its business as involving "Single Asset Real Estate as defined in
11 U.S.C. Sec. 101(51B)".  More than 90 days have passed since the
entry of the order for relief in this case and the Debtor has
failed to file a plan of reorganization or commence monthly
payments as required by Bankruptcy Code Sec. 362(d)(3)(A) or (B).

In a judgment of foreclosure by sale entered on November 12, 2013,
the Connecticut Superior Court determined the fair market value of
the Property to be $1,630,000, DF's secured debt to be
$1,356,681.80, attorneys' fees to be $6,175, appraisal fee to be
$3,500 and a title search fee to be $225.

While interest continues to accrue on the debt together with costs
and attorneys' fees, the Debtor appears to have equity in the
property and DF concedes that it is adequately protected at this
time.

In opposing DF's request, the Debtor has presented to the Court a
Purchase Agreement and Rider to Purchase Agreement dated July 9,
2014 and entered into by the Debtor as seller and Arnold Peck as
purchaser of 135 acres of the Property along with a copy of a
check made payable to the Debtor's attorney Kevin Mason for
$50,000, representing a deposit toward a total purchase price of
$4.5 million.

A copy of the Court's July 29, 2014 Brief Memorandum and Order is
available at http://is.gd/bA0cCGfrom Leagle.com.

World Properties, LLC, based in Bloomfield, CT, filed for Chapter
11 bankruptcy (Bankr. D. Conn. Case No. 14-20535) on March 24,
2014, in Hartford.  Judge Albert S. Dabrowski presides over the
case.  The Law Offices of Kevin L. Mason, Esq., serves as the
Debtor's counsel.

In its petition, the Debtor listed total assets of $3 million and
total liabilities of $4.08 million.  The petition was signed by
Antonio Reale, authorized individual.


WPCS INTERNATIONAL: CFO to Resign on August 31
----------------------------------------------
Previously, WPCS International Incorporated entered into a
separation agreement with Joseph Heater, the Company's chief
financial officer, pursuant to which Mr. Heater was to resign,
effective at the close of business on July 31, 2014.

On July 28, 2014, the Company and Mr. Heater entered into an
amendment to the Separation Agreement pursuant to which Mr. Heater
will resign, effective at the close of business on Aug. 31, 2014,
as the chief financial officer of the Company and from all officer
and director positions with the Company's subsidiaries.

Pursuant to the Separation Agreement, as amended by the Amendment,
the Company will pay Heater the sum of $250,000 between the
Termination Date and Jan. 31, 2015, which will be payable in five
monthly installments of $41,666.67, payable on the first business
day of each month from September through January 2015 and one (1)
final payment of $41,666.65 to be made on Jan. 31, 2015.  In
addition, Heater will receive a bonus of $35,000, to be paid on
July 31, 2014.  On Aug. 31, 2015, the Company will pay Mr. Heater
for all accrued but unpaid vacation time.  Mr. Heater will also
receive medical and other insurance benefits through Jan. 31,
2015, under the applicable plans maintained by the Company.
Further, subject to stockholder approval of an increase in
authorized common stock, the Company will grant Mr. Heater options
to purchase 50,000 shares of common stock pursuant to the newly
adopted stock incentive plan, which options will vest immediately
upon issuance and will expire on Jan. 31, 2015.

               About WPCS International Incorporated

WPCS -- http://www.wpcs.com-- operates in two business segments
including: (1) providing communications infrastructure contracting
services to the public services, healthcare, energy and corporate
enterprise markets worldwide; and (2) developing a Bitcoin trading
platform.

As reported by the TCR on Feb. 7, 2014, WPCS appointed Marcum LLP
as its new independent registered public accounting firm.
CohnReznick LLP resigned on Dec. 20, 2013.

The Company's former auditors, CohnReznick LLP, in Roseland, New
Jersey, expressed substantial doubt about WPCS International's
ability to continue as a going concern following the annual report
for the year ended April 30, 2013.  The independent auditors noted
that the Company has incurred net losses and negative cash flows
from operating activities, had a working capital deficiency as of
and for the years ended April 30, 2013, and 2012, and has an
accumulated deficit as of April 30, 2013.

As of Jan. 31, 2014, the Company had $22.37 million in total
assets, $15.18 million in total liabilities and $7.19 million in
total equity.

"At January 31, 2014, the Company has losses from operations, and
has outstanding balances due to its former surety under a
forbearance agreement of $1,533,757.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern.  The financial statements do not include any
adjustments to the carrying amount and classification of recorded
assets and liabilities should the Company be unable to continue
operations.  Management's plans are to continue to raise
additional funds through the sales of debt or equity securities.
There is no assurance that additional financing will be available
when needed or that management will be able to obtain financing on
terms acceptable to the Company and whether the Company will
become profitable and generate positive operating cash flow.  If
the Company is unable to raise sufficient additional funds, it
will have to develop and implement a plan to further extend
payables and reduce overhead until sufficient additional capital
is raised to support further operations.  There can be no
assurance that such a plan will be successful," the Company stated
in its quarterly report for the period ended Jan. 31, 2014.


WPCS INTERNATIONAL: Sold Australia Operations for $1.4 Million
--------------------------------------------------------------
WPCS International Incorporated announced that on July 31, 2014,
the Company completed the sale of The Pride Group (QLD) Pty Ltd.,
to Turquino Equity LLC, whose managing member is Andrew Hidalgo,
the former Chairman and CEO of WPCS.  With the sale, the Company
eliminates its outstanding $1.1 million severance obligation to
Hidalgo.

Sebastian Giordano, interim CEO of WPCS, commented, "The sale of
our unprofitable Australia Operations falls in line with our
restructuring strategy and is another key step in our turnaround,
separating ourselves from a non-core business that was
underperforming and declining in value.  We have now successfully
disposed two unprofitable operations in Australia and Trenton,
while settling the remaining $1.1 million severance obligation to
Hidalgo through this sale.

The Company agreed to sell the Australia Operations to Turquino
for a purchase price of $1.4 million.  At closing, the purchase
price was subject to adjustment based on the net tangible asset
value of the Australia Operations, and the purchase price was to
be settled by applying the net after tax severance balance due
Hidalgo as payment towards the purchase price.  At the closing,
the parties agreed that the closing NTAV of the Australia
Operations was $970,000.  Hidalgo agreed to reduce the total
severance owed to him under his separation agreement by about
$167,000 to $970,000, the NTAV of the Australia Operations on the
closing date.  As a result, the Company was not required to make
any further payments to Hidalgo pursuant to his separation
agreement.

Mr. Giordano continued, "We are now focused on closing on the sale
of the assets of our Seattle Operations, which will bring working
capital into the Company.  This transaction is subject to
shareholder approval and is expected to close in August 2014."

On July 30, 2014, WPCS International Incorporated entered into a
waiver agreement with holders of a majority of the outstanding
senior secured convertible notes and warrants that were sold
pursuant to a securities purchase agreement dated Dec. 4, 2012.
The Notes are secured by a first priority lien on the assets of
the Company and subsidiaries pursuant to a security and pledge
agreement dated Dec. 4, 2012, by the Company and subsidiaries in
favor of Worldwide Stock Transfer LLC, in its capacity as
collateral agent for the Holders.  As a result of the Waiver, the
Collateral Agent released the stock of The Pride Group (QLD) Pty
Ltd., a wholly-owned subsidiary of the Company, from Collateral
pursuant to the Security Agreement.

               About WPCS International Incorporated

WPCS -- http://www.wpcs.com-- operates in two business segments
including: (1) providing communications infrastructure contracting
services to the public services, healthcare, energy and corporate
enterprise markets worldwide; and (2) developing a Bitcoin trading
platform.

As reported by the TCR on Feb. 7, 2014, WPCS appointed Marcum LLP
as its new independent registered public accounting firm.
CohnReznick LLP resigned on Dec. 20, 2013.

The Company's former auditors, CohnReznick LLP, in Roseland, New
Jersey, expressed substantial doubt about WPCS International's
ability to continue as a going concern following the annual report
for the year ended April 30, 2013.  The independent auditors noted
that the Company has incurred net losses and negative cash flows
from operating activities, had a working capital deficiency as of
and for the years ended April 30, 2013, and 2012, and has an
accumulated deficit as of April 30, 2013.

As of Jan. 31, 2014, the Company had $22.37 million in total
assets, $15.18 million in total liabilities and $7.19 million in
total equity.

"At January 31, 2014, the Company has losses from operations, and
has outstanding balances due to its former surety under a
forbearance agreement of $1,533,757.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern.  The financial statements do not include any
adjustments to the carrying amount and classification of recorded
assets and liabilities should the Company be unable to continue
operations.  Management's plans are to continue to raise
additional funds through the sales of debt or equity securities.
There is no assurance that additional financing will be available
when needed or that management will be able to obtain financing on
terms acceptable to the Company and whether the Company will
become profitable and generate positive operating cash flow.  If
the Company is unable to raise sufficient additional funds, it
will have to develop and implement a plan to further extend
payables and reduce overhead until sufficient additional capital
is raised to support further operations.  There can be no
assurance that such a plan will be successful," the Company stated
in its quarterly report for the period ended Jan. 31, 2014.


YMCA OF METROPOLITAN: Panel Has Nod to Hire Goldstein as Counsel
----------------------------------------------------------------
The Hon. Susan V. Kelley of the U.S. Bankruptcy Court for the U.S.
Bankruptcy Court for the Eastern District of Wisconsin has
authorized the Official Committee of Unsecured Creditors of The
Young Men's Christian Association of Metropolitan Milwaukee, Inc.,
to retain Goldstein & McClintock LLLP as counsel, nunc pro tunc to
July 21, 2014.

As reported by the Troubled Company Reporter on July 17, 2014, the
Committee hired Goldstein to, among other things, advise the
Committee on all legal issues as they arise and represent and
advise the Committee regarding the terms of any sales of assets or
plans of reorganization or liquidation, and assisting the
Committee in negotiations with the Debtor and other parties.

Chris S. Mehring, Esq., a Goldstein, has withdrawn as counsel for
the Committee.  Mr. Mehring requested that the Court remove his
name and e-mail address from the Court's Electronic Notice for
Registrants for this Case, and from any and all service lists and
mailing lists related to the Chapter 11 case.

The Court previously denied the Committee's June 30, 2014
motion to employ Goldstein on July 17, 2014, after finding that:
(i) Associated Bank is a current client of Goldstein & McClintock
LLLP; and (ii) because Associated Bank is a secured creditor in
this case, Goldstein has a conflict of interest with respect to
representing the Committee.

On July 9, 2014, the U.S. Trustee objected to Goldstein's
employment due to a conflict of interest.  According to the U.S.
Trustee, Mr. Mehring is an income partner with Goldstein and has
previously represented Associated Bank in connection with
commercial loan issues.  The Committee stated in its motion that
"although Mr. Mehring has no active matters with the Associated
Bank, he intends to continue to represent Associated Bank on
matters unrelated to this case in the future," a statement that
the U.S. Trustee found vague and failed to set forth in detail the
full extent of Mr. Mehring's connections with Associated Bank.  A
hearing on the matter was set for July 16, 2014.

Goldstein responded to the U.S. Trustee's objection on July 11,
2014, stating, "Chris Mehring has previously represented
Associated Bank in connection with commercial loan issues.
Although Mr. Mehring has no active matters with the Associated
Bank, he intends to continue to represent Associated Bank on
matters unrelated to this case in the future."

On July 14, 2014, the Debtor joined the U.S. Trustee's objection,
saying that roughly 30% of the total fees collected during the
last 12 months came from working for Associated.  "In short,
Attorney Mehring relies heavily on Associated to make his living,"
the Debtor said.

In a court filing dated July 15, 2014, Goldstein responded,
"Unable to make a real legal argument, the joinder, like the
objection, focuses on and plays up: (a) the relationship of
Mehring -- one G&M partner -- with Associated (as opposed to the
firm's relatively de-minimis relationship) and (b) Associated's
involvement in the case.  G&M's ability to actively represent the
Committee's interests, including in matters adverse to the Bank
Group, will in no way be limited by Mehring's relationship with
Associated.  First, lead counsel to the Committee (Matthew
McClintock) has never represented Associated.  In fact, since
Mehring joined the firm, no other attorney at G&M has represented
Associated, other than one law clerk, now an associate, who
performed less than six hours of work.  Accordingly, even if
Associated was the sole or controlling lender here -- which it is
not -- G&M would be fully able to take positions adverse to
Associated (including pursuing preferences or taking other
actions)."

                      About YMCA of Milwaukee

The Young Men's Christian Association of Metropolitan Milwaukee,
Inc., and affiliate, YMCA Youth Leadership Academy, Inc., filed
voluntary Chapter 11 bankruptcy petitions (Bankr. E.D. Wis. Case
Nos. 14-27174 and 14-27175) in Milwaukee, on June 4, 2014.

YMCA Milwaukee, which has more than 100,000 members using its
centers and camps, plans to sell a majority of its owned real
estate to help pay down $29 million in debt.

YMCA Milwaukee estimated $10 million to $50 million in both assets
and liabilities.  YMCA Academy estimated $100,000 to $500,000 in
both assets and liabilities.  The formal schedules of assets and
liabilities are due June 18, 2014.

The Debtors are seeking joint administration of their Chapter 11
cases for procedural purposes.  The cases are assigned to Judge
Susan V. Kelley.

The Debtors have tapped Olivier H. Reiher, Esq., and Mark L. Metz,
Esq., at Leverson & Metz, S.C., in Milwaukee, as counsel.


ZODIAC POOL SOLUTIONS: Seeks U.S. Recognition of UK Plan
--------------------------------------------------------
Zodiac Pool Solutions SAS and its affiliates sought Chapter 15
bankruptcy protection in the U.S. to give effect of the
restructuring plans approved by creditors and sanctioned by a
court in the United Kingdom.

The company was severely affected by the global economic and
financial crisis that began in 2008.  In 2008 and 2009, the
company closed numerous factories and subsidiary operations
throughout the world and divested its professional safety
equipment and boats business, as part of a number of restructuring
initiatives.

The company, however, had to explore additional options in light
of approaching maturities of its debt facilities on in September
2014 and September 2015.  As of March 31, 2014, the Zodiac Group's
net senior debt leverage ratio was 8.2X; although the Zodiac Group
expects to reduce this ratio to 6.2x by Sept. 30, 2015, such ratio
would remain above current acceptable market levels.

As a result, it began negotiations with lenders and on May, it
entered into a lock-up agreement with lenders.  The High Court of
Justice of England and Wales sanctioned the companies' schemes of
arrangements on July 31, 2014.  Creditors with majorities in value
ranging from 79.97% to 98.09% and majorities in number ranging
from 81.25% to 92.85% voted in favor of the schemes.

The Debtors say that the schemes provide for an amendment and
extension of certain substantial debt facilities under which
several Zodiac Group entities, including the Debtors, are
obligors.  The English High Court has sanctioned the schemes,
which involve, among other things, the extension of the current
maturity dates under the facilities -- the earliest of which is
due to occur on Sept. 27, 2014 -- and represents the best option
for the Zodiac Group in the present circumstances, as the
companies' current debt leverage ratio means that they are unable
to refinance the debt owing under the facilities in the current
market.

The Debtors say that without the amendment and extension, in the
absence of an alternative agreement with creditors, the
uncertainty created may cause going concern issues to be raised by
the Zodiac Group auditors, suppliers to reduce their payment terms
or withdraw altogether, the withdrawal of short-term trade lines,
the loss of or negotiation of terms of business with customers and
the reduction of credit insurance, which would likely precipitate
a rapid deterioration of the Zodiac Group.

"If the Zodiac Group fails to secure the Amendment and Extension,
one or more Zodiac Group companies may need to take steps towards
the commencement of formal insolvency or pre-insolvency
proceedings in multiple jurisdictions.  Such proceedings would be
likely to result in a substantial loss of value for all
stakeholders, including Scheme Creditors.  By contrast, the
Amendment and Extension, as embodied in the Schemes, will provide
the Zodiac Group with the time and financial flexibility it needs
to continue deleveraging itself, with the aim of repaying the
Senior Debt in full at or before the first extended maturity date
of December 2017 (from the proceeds of a refinancing or sale) and
of materially improving the returns to the Scheme Creditors who
are lenders of Facility D and the Mezzanine Facility (potentially
including repayment in full thereof)," Francois Mirallie, a
company executive, said in a court filing.

A copy of Zodiac's Chapter 15 bankruptcy petition and the foreign
representative's verified petition for recognition of the foreign
proceedings is available at:

        http://bankrupt.com/misc/Zodiac_Ch15_Petition.pdf

                    About Zodiac Pool Solutions

Zodiac Pool Solutions SAS and its units are global manufacturers
and distributors of products for swimming pools and spas.  Zodiac
has design, engineering and manufacturing facilities in the U.S.,
France, Germany, Australia, and South Africa and has operating
subsidiaries or branches with their own sales forces in the U.S.,
Canada, Europe, Australia, New Zealand and South Africa.

Zodiac has pending proceedings before the High Court of Justice of
England and Wales.  The companies' schemes of arrangements were
approved by the creditors and the High Court sanctioned the
schemes on July 31, 2014.

Zodiac and its affiliates sought bankruptcy protection in the U.S.
under Chapter 15 of the Bankruptcy Code (Bankr. D. Del. Case No.
14-11818) on July 31, 2014, to seek recognition of their
restructuring proceedings in the United Kingdom.  Zodiac estimated
at least $500 million in assets and more than $1 billion in debt.

Judge Kevin J. Carey presides over the Chapter 15 cases.  The
Debtors are seeking administrative consolidation of the Chapter 15
cases.

Francois Mirallie, executive member of the executive board and
managing director of Zodiac, serves as foreign representative in
the U.S. case.

The Debtor is represented by Curtis S. Miller, Esq., at Morris
Nichols Arsht & Tunnell, in Wilmington, Delaware.


* Bankruptcy Filings Down 12% in June 2014
------------------------------------------
Bankruptcy filings for the 12-month period ending June 30, 2014,
fell 12 percent when compared to bankruptcy filings for the 12-
month period ending June 30, 2013, according to statistics
released by the Administrative Office of the U.S. Courts. June
2014 bankruptcy filings totaled 1,000,083, compared to the
1,137,978 bankruptcy cases filed in the 12-month period ending
June 2013.  This is the lowest total for bankruptcy filings in any
12-month period since June 2008.


* Diligence Required to Avoid Pension Plan Minefields, Huron Says
-----------------------------------------------------------------
The status of a company's pension plans can be key stumbling
blocks in the sale or purchase of the company or even a credit
agreement for ongoing financing of the business.  Huron Consulting
Group, a provider of business consulting services, on July 30
released a new Huron Business Advisory briefing, "Distressed
company buyers and lenders: diligence required to avoid pension
plan minefields," detailing steps buyers and lenders can take to
fully understand any pension risks involved and avoid potential
pitfalls.

"A close vetting of the numbers during due diligence and a review
of the entity's historic actions toward its plans are the first
steps in the process," said Laura Marcero, CIRA, managing
director, Huron Business Advisory.  "Despite the potential for
significant complications, it is possible to navigate safely
through the complexities of acquiring or lending to distressed
companies with pension plans."

Among the key questions a potential buyer or lender should answer
are:

   * How overfunded/underfunded is the pension plan?

   * Has the company/borrower failed to make required payments?
If so, with accrued interest, how close is the entity to the $1
million threshold set by the Pension Benefit Guaranty Corporation
(PBGC), the federal agency that oversees defined benefit pension
plans?

    * Is the borrower/target part of a controlled group?  If so,
it is important to conduct the necessary due diligence to
understand whether there are joint and several liabilities for
which the entity may be responsible.

"In circumstances that warrant it, the acquirer or lender should
enter into negotiations with PBGC," said Jim Lukenda, CIRA,
managing director, Huron Business Advisory.  "This also requires
expertise and an understanding of PBGC's objectives.  PBGC is a
focused and hardworking group, as well as very tough negotiators.
However, it is possible to engage in meaningful discussions with
the staff to reach reasonable economic resolution of issues when
it is possible to do so."

Huron Business Advisory has significant expertise and experience
in multiple aspects of addressing issues that arise in distressed
company transactions including those involving the resolution of
pension plan issues, having represented buyers, sellers, and
lenders.

A copy of the full briefing is available at http://is.gd/4Rg4pr

                   About Huron Business Advisory

Huron Business Advisory resolves complex business issues and
enhances value.  The Company offers a full suite of services in
key areas, including forensic investigations, transaction
advisory, restructuring and turnaround, interim management,
capital raising, operational improvement, and valuation.

                   About Huron Consulting Group

Huron Consulting Group -- http://www.huronconsultinggroup.com--
helps clients in diverse industries improve performance, transform
the enterprise, reduce costs, leverage technology, process and
review large amounts of complex data, address regulatory changes,
recover from distress and stimulate growth.  The Company's
professionals employ their expertise in finance, operations,
strategy and technology to provide its clients with specialized
analyses and customized advice and solutions that are tailored to
address each client's particular challenges and opportunities to
deliver sustainable and measurable results.  The Company provides
consulting services to a wide variety of both financially sound
and distressed organizations, including healthcare organizations,
leading academic institutions, Fortune 500 companies, governmental
entities and law firms.  Huron has worked with more than 425
health systems, hospitals, and academic medical centers; more than
400 corporate general counsel; and more than 350 universities and
research institutions.


* U.S. Judge Rejects Argentina's Appeal for New Mediator
--------------------------------------------------------
Alexandra Stevenson, writing for The New York Times' DealBook,
reported that a lawyer for Argentina told a federal judge that the
nation had lost faith in the mediator appointed to work with a
group of hedge funds that hold the country's bonds after the
mediator issued a statement saying the country was in "imminent
default."

That statement, according to the lawyer, Jonathan Blackman, was
"harmful and prejudicial," and he asked that the mediator, David
Pollack, be replaced.  Judge Thomas P. Griesa of Federal District
Court in Manhattan, however, rejected the request and said talks
would have to continue.

In a separate DealBook report, Peter Eavis said the repercussions
of Argentina's sovereign debt default continued to spread through
global markets as an industry body decided that financial
instrument used to insure against the default must pay out.  The
report said the International Swaps and Derivatives Association
said Argentina's failure to make a payment on its bonds would
activate credit default swaps on the country's debt.  In the
coming days, investors who used the swaps to insure against the
default will collect money from investors on the other side of the
trade, the report said.


* Jeffrey Manning Joins Reznick Capital as Managing Director
------------------------------------------------------------
Reznick Capital Markets Securities, LLC on July 24 announced the
appointment of restructuring veteran Jeffrey R. Manning, CTP as a
Managing Director.  Mr. Manning will lead corporate recovery
activities, primarily providing investment banking advice and
services for companies operating at, near, or emerging from a
restructuring process.

Mr. Manning has more than 30 years of experience across the
corporate recovery market, providing services to clients in such
areas as investment banking, loan workouts, operating
restructuring, value investing, bankruptcy advising, and loan
trading.  Global M&A Network's 2013 Annual Turnaround Atlas Awards
recognized Mr. Manning as one of the top 100 restructuring and
turnaround professionals from the global restructuring, distressed
M&A, and insolvency communities.

Prior to joining RCMS, Jeff was a managing director and group head
of BDO Capital Advisors' special situations group, and prior to
that position, he was CEO of FTI Capital Advisors, FTI's wholly-
owned investment bank.

"Jeff's appointment to the RCMS team gives us an additional array
of skill sets to better serve our clients in a number of
industries where there will likely be distress at some point in
the future, including renewable and environmental companies,"
said Rob Sternthal, President of RCMS.

Mr. Manning adds, "RCMS continues to expand its scope to serve
companies facing ever greater regulatory and compliance hurdles in
an economic environment that remains challenging."

RCMS will team up, as needed, with accounting, tax, and advisory
firm CohnReznick on those engagements where Mr. Manning's
investment banking expertise can complement the Firm's
restructuring advisory work.

Mr. Manning will be based in Baltimore, expanding the RCMS
footprint in the Mid-Atlantic Region.  RCMS also maintains offices
in New York, Chicago, and Los Angeles.

             About Reznick Capital Markets Securities

Reznick Capital Markets Securities (RCMS) --
http://www.reznickcapitalmarkets.com-- offers a comprehensive
financial advisory platform for the renewable energy industry.
RCMS provides solutions for tax equity, equity, debt, asset sales
or purchases.  The company represents financial institutions,
infrastructure funds, strategic participants (IPPs and utilities)
and more than 60 wind, solar, biomass and other alternative energy
developers nationwide.  To date, Reznick Capital Markets
Securities has led the financing of over 880MW in solar, wind and
biomass projects and has placed tax equity financing for over $3
billion in assets.  RCMS has successfully executed sale placements
and asset sales for 130MW of solar and 90MW of wind projects.


* BOND PRICING: For Week From July 28 to August 1, 2014
-------------------------------------------------------

  Company              Ticker  Coupon  Bid Price  Maturity Date
  -------              ------  ------  ---------  -------------
Alion Science &
  Technology Corp      ALISCI   10.25     74.968       2/1/2015
Allen Systems
  Group Inc            ALLSYS    10.5      49.75     11/15/2016
Allen Systems
  Group Inc            ALLSYS    10.5       52.5     11/15/2016
Brookstone Co Inc      BKST        13      38.25     10/15/2014
Brookstone Co Inc      BKST        13         45     10/15/2014
Brookstone Co Inc      BKST        13     38.125     10/15/2014
Buffalo Thunder
  Development
  Authority            BUFLO    9.375       41.5     12/15/2014
Caesars Entertainment
  Operating Co Inc     CZR         10         31     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR      10.75       67.5       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR        6.5         57       6/1/2016
Caesars Entertainment
  Operating Co Inc     CZR      12.75         40      4/15/2018
Caesars Entertainment
  Operating Co Inc     CZR         10     35.149     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR      10.75     64.875       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR         10     30.875     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR         10     33.125     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR      10.75     64.875       2/1/2016
Caesars Entertainment
  Operating Co Inc     CZR         10     30.875     12/15/2018
Caesars Entertainment
  Operating Co Inc     CZR         10     33.125     12/15/2018
Champion
  Enterprises Inc      CHB       2.75       0.25      11/1/2037
Endeavour
  International Corp   END         12       48.5       6/1/2018
Endeavour
  International Corp   END        5.5      41.75      7/15/2016
Energy Conversion
  Devices Inc          ENER         3      0.125      6/15/2013
Energy Future
  Competitive
  Holdings Co LLC      TXU      8.175       0.99      1/30/2037
Energy Future
  Holdings Corp        TXU       5.55     66.455     11/15/2014
FairPoint
  Communications
  Inc/Old              FRP     13.125          1       4/2/2018
Global Geophysical
  Services Inc         GGS       10.5         31       5/1/2017
Global Geophysical
  Services Inc         GGS       10.5      32.75       5/1/2017
James River Coal Co    JRCC     7.875       12.5       4/1/2019
James River Coal Co    JRCC       4.5          7      12/1/2015
James River Coal Co    JRCC        10      6.375       6/1/2018
James River Coal Co    JRCC        10         11       6/1/2018
James River Coal Co    JRCC     3.125      1.875      3/15/2018
LBI Media Inc          LBIMED     8.5         30       8/1/2017
Las Vegas Monorail Co  LASVMC     5.5         10      7/15/2019
Lehman Brothers Inc    LEH        7.5       13.5       8/1/2026
MF Global
  Holdings Ltd         MF        6.25       45.5       8/8/2016
MF Global
  Holdings Ltd         MF       1.875       44.5       2/1/2016
MModal Inc             MODL     10.75     10.375      8/15/2020
MModal Inc             MODL     10.75     10.125      8/15/2020
Momentive Performance
  Materials Inc        MOMENT    11.5      29.25      12/1/2016
Motors
  Liquidation Co       MTLQQ      7.2      11.25      1/15/2011
Motors
  Liquidation Co       MTLQQ     6.75      11.25       5/1/2028
Motors
  Liquidation Co       MTLQQ    7.375      11.25      5/23/2048
NII Capital Corp       NIHD        10     26.241      8/15/2016
NII Capital Corp       NIHD     8.875         33     12/15/2019
NII Capital Corp       NIHD     7.625      27.25       4/1/2021
OnCure Holdings Inc    RTSX     11.75     48.875      5/15/2017
Platinum Energy
  Solutions Inc        PLATEN   14.25      74.75       3/1/2015
Platinum Energy
  Solutions Inc        PLATEN   14.25      74.75       3/1/2015
Platinum Energy
  Solutions Inc        PLATEN   14.25      74.75       3/1/2015
Platinum Energy
  Solutions Inc        PLATEN   14.25      74.75       3/1/2015
Powerwave
  Technologies Inc     PWAV     1.875      0.125     11/15/2024
Powerwave
  Technologies Inc     PWAV     1.875      0.125     11/15/2024
Pulse
  Electronics Corp     PULS         7     75.764     12/15/2014
Savient
  Pharmaceuticals Inc  SVNT      4.75      0.125       2/1/2018
TMST Inc               THMR         8       13.1      5/15/2013
Terrestar
  Networks Inc         TSTR       6.5         10      6/15/2014
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU         15         35       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU      10.25       14.5      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU      10.25       14.5      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU         15      38.75       4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU       10.5     15.125      11/1/2016
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU      10.25       14.5      11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc          TXU       10.5      14.75      11/1/2016
Tunica-Biloxi
  Gaming Authority     PAGON        9      60.75     11/15/2015
Western Express Inc    WSTEXP    12.5      82.25      4/15/2015
Western Express Inc    WSTEXP    12.5      85.25      4/15/2015




                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR.  Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com by e-mail.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to the nation's bankruptcy courts.  The
list includes links to freely downloadable of these small-dollar
petitions in Acrobat PDF documents.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                           *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Ivy B. Magdadaro, Carlo Fernandez,
Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2014.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-241-8200.


                  *** End of Transmission ***