/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/140809.mbx T R O U B L E D C O M P A N Y R E P O R T E R Saturday, August 9, 2014, Vol. 18, No. 220 Headlines ABLEST INC: Has $10.74 Million in Total Assets at April 30 AGFEED USA: Cash Balance Slightly Down to $8.05MM at June 30 ARCHDIOCESE OF MILWAUKEE: Had $11.26MM Cash Balance at June 30 ECOTALITY INC: ETEC Ends June with $980,498 Cash GLOBAL AVIATION: Ends May with $6,122 Cash Balance GLOBAL GEOPHYSICAL: Lists $11.92 Million Net Loss in June HOUSTON REGIONAL: Posts $71.3 Million Net Loss in May 2014 JAMES RIVER COAL: Net Loss Balloons to $60.78 Million at June 30 KID BRANDS: Suffers $3.43 Million Net Loss at June 30 MEE APPAREL: Net Loss Down to $578,663 at June 30 MOMENTIVE PERFORMANCE: Net Loss Increases to $30.07MM at June 30 OPTIM ENERGY: Reports $3.30MM Operating Loss for May REGIONAL CARE: Lists $474,452 Total Assets at May 31 SCOOTER STORE: Cash Balance Decreases to $1.29 Million at June 30 USEC INC: June Net Loss Increases to $5.82 Million ********* ABLEST INC: Has $10.74 Million in Total Assets at April 30 ---------------------------------------------------------- Ablest Inc., et al., on July 25, 2014, filed their monthly operating report for the period from April 1 to 30, 2014. Ablest Inc. listed zero income and zero revenue for April, while five of its debtor affiliates posted net losses and two others posted net incomes. At April 30, Ablest Inc. had $10.74 million in total assets, $10.24 million in liabilities and $500,000 in retained earnings. The Debtors posted total cash receipts of $138.10 million and total disbursements of $222.62 million for the reporting period. A copy of the monthly operating report is available at: http://bankrupt.com/misc/AblestIncmorApril2014.pdf About Ablest Inc. Ablest Inc. and its debtor-affiliates sought bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10717) on April 1, 2014, with a prepackaged plan of reorganization that will reduce debt by $300 million. Ablest together with its affiliates is a leading national provider of temporary staffing services in the United States and is the largest provider of temporary staffing services in California. It provides staffing services on temporary, "temp-to-hire", and project-by-project basis through a network of 312 offices in 48 states. The company currently employs 75,000 full and part time employees in hourly, salaried, supervisory, management and sales positions plus 1,500 corporate and branch employees. During the fiscal year ended Dec. 29, 2013, the Debtors placed approximately 300,000 temporary employees and provided staffing services to 11,500 customers. For fiscal year 2013, the Debtors had $2 billion in gross revenue. The Debtors have tapped (i) the law firm of Pachulski Stang Ziehl & Jones LLP as co-restructuring counsel; (ii) Skadden, Arps, Slate, Meagher & Flom LLP as co-restructuring counsel and corporate and securities counsel; (iii) AlixPartners LLP as restructuring advisors; (iv) Goldman, Sachs & Co., as financial advisor; and (v) Kurtzman Carson Consultants LLC as claims and noticing agent. As of April 1, 2014, the Debtors have outstanding secured debt in an aggregate amount, including accrued interest, of approximately $651 million. Ablest's assets are estimated at $100 million to $500 million. The Court approved the Prepackaged Joint Plan of Reorganization that revolves around a court-approved restructuring support agreement between the Debtors and (i) approximately 70% of the Prepetition First Lien Lenders, representing approximately 82% of the claims under the Prepetition First Lien Credit Agreement and (ii) approximately 81% of the Prepetition Second Lien Lenders, representing approximately 87% of the claims under the Prepetition Second Lien Credit Agreement; and authorized the Debtors to assume the so-called "Sorensen Support Agreement." U.S. Trustee for Region 3 was unable to appoint a committee of unsecured creditors. AGFEED USA: Cash Balance Slightly Down to $8.05MM at June 30 ------------------------------------------------------------ AgFeed USA, LLC, et al., on July 31, 2014, filed their monthly operating report for the month of June 2014. The Debtors' consolidated statement of operations showed a net loss of $348,254 on zero revenue for the month, an improvement from the $507,927 net loss incurred in May. At June 30, the Debtors posted $11.67 million in total assets, $4.35 million in total liabilities, and $7.32 million in total shareholders' equity. The Debtors had a cash balance of $8.08 million at June 1. They reported total receipts of $155,173 and total disbursements of $182,055. As a result, the Debtors had $8.05 million cash at the end of the month. A copy of the monthly operating report is available at: http://bankrupt.com/misc/AGFEEDUSAjune2014mor.pdf About AgFeed Industries AgFeed Industries, Inc., has 21 farms and five feed mills in China producing more than 250,000 hogs annually. In the U.S., the business included 10 sow farms in three states and two feed mills producing more than one million hogs a year. AgFeed's revenue in 2012 was $244 million. AgFeed and its affiliates filed voluntary petitions under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 13-11761) on July 15, 2013, with a deal to sell most of its subsidiaries to The Maschhoffs, LLC, for cash proceeds of $79 million, absent higher and better offers. The Debtors estimated assets of at least $100 million and debts of at least $50 million. Keith A. Maib signed the petition as chief restructuring officer. Hon. Brendan Linehan Shannon presides over the case. Donald J. Bowman, Jr., and Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, serve as the Debtors' counsel. BDA Advisors Inc. acts as the Debtors' financial advisor. The Debtors' claims and noticing agent is BMC Group, Inc. The U.S. Trustee has appointed a five-member official committee of unsecured creditors to the Chapter 11 cases. The Creditors' Committee tapped Lowenstein Sandler as lead bankruptcy counsel and Greenberg Traurig, LLP, as co-counsel. CohnReznick LLP serves as the Creditors' Committee's financial advisor. An official committee of equity security holders was also appointed to the Chapter 11 cases. The Equity Committee tapped Sugar Felsenthal Grais & Hammer LLP and Elliott Greenleaf as co-counsel. Jefferies Leveraged Credit Products and Claims Recovery Group are represented by Lawrence J. Kotler, Esq., and Catherine B. Heitzenrater, Esq., at Duane Morris, LLP. ARCHDIOCESE OF MILWAUKEE: Had $11.26MM Cash Balance at June 30 -------------------------------------------------------------- The Archdiocese of Milwaukee filed, on July 15, 2014, a monthly operating report for June 2014. The Archdiocese incurred a net loss of $1.35 million over total net sales of $681,118 in June, a slight increase from the $1.31 million net loss posted for the previous month. The Archdiocese declared $43.35 million in total assets, $38.83 million in total liabilities, and $4.52 million in total shareholders' equity. The Archdiocese had a cash balance of $12.11 million at the beginning of the month. It listed total receipts of $2.29 million and total disbursements of $3.11 million. At month end, the Archdiocese had $11.26 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/ArchdioceseofMilwaukeemorJune2014.pdf About Archdiocese of Milwaukee The Diocese of Milwaukee was established on Nov. 28, 1843, and was elevated to an Archdiocese on Feb. 12, 1875, by Pope Pius IX. The region served by the Archdiocese consists of 4,758 square miles in southeast Wisconsin which includes counties Dodge, Fond du Lac, Kenosha, Milwaukee, Ozaukee, Racine, Sheboygan, Walworth, Washington and Waukesha. There are 657,519 registered Catholics in the Region. The Catholic Archdiocese of Milwaukee, in Wisconsin, filed for Chapter 11 bankruptcy protection (Bankr. E.D. Wis. Case No. 11-20059) on Jan. 4, 2011, to address claims over sexual abuse by priests on minors. The Archdiocese became at least the eighth Roman Catholic diocese in the U.S. to file for bankruptcy to settle claims from current and former parishioners who say they were sexually molested by priests. Daryl L. Diesing, Esq., at Whyte Hirschboeck Dudek S.C., in Milwaukee, Wisconsin, serves as the Archdiocese's counsel. The Official Committee of Unsecured Creditors in the bankruptcy case has retained Pachulski Stang Ziehl & Jones LLP as its counsel, and Howard, Solochek & Weber, S.C., as its local counsel. The Archdiocese estimated assets and debts of $10 million to $50 million in its Chapter 11 petition. ECOTALITY INC: ETEC Ends June with $980,498 Cash ------------------------------------------------ Electronic Transportation Engineering Corporation, lead debtor in the Chapter 11 cases of Ecotality, Inc., et al., on July 29, 2014, filed a monthly operating report for June 2014. The Debtor reported a $5,473 net profit with zero revenue for the month. The Debtor, at June 30, listed total assets of $5.83 million, total liabilities of $97.35 million, and a total shareholders' equity -$91.53 million. The Debtor had $979,888 cash at the beginning of the month. It recorded $791 in total receipts and $181 in total disbursements. At month end, the Debtor had $980,498 cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/ECOTALITYINCjune2014mor.pdf About Ecotality Inc. Headquartered in San Francisco, California, Ecotality, Inc. (Nasdaq: ECTY) -- http://www.ecotality.com-- is a provider of electric transportation and storage technologies. Ecotality Inc. along with affiliates including lead debtor Electric Transportation Engineering Corp. sought Chapter 11 protection (Bankr. D. Ariz. Lead Case No. 13-16126) on Sept. 16, 2013, with plans to sell the business at an auction. The cases are assigned to Chief Judge Randolph J. Haines. The Debtors' lead counsel are Charles R. Gibbs, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Dallas, Texas; and David P. Simonds, Esq., and Arun Kurichety, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Los Angeles, California. The Debtors' local counsel is Jared G. Parker, Esq., at Parker Schwartz, PLLC, in Phoenix, Arizona. FTI Consulting, Inc. serves as the Debtors' crisis manager and financial advisor. The Debtors' claims and noticing agent is Kurtzman Carson Consultants LLC. Electric Transportation estimated assets of $10 million to $50 million and debt of $100 million to $500 million. Unlike most companies in bankruptcy, Ecotality has no secured debt. It simply ran out of money. There's $5 million owing on convertible notes, plus liability on leases. Part of pre-bankruptcy financing took the form of a $100 million cost-sharing grant from the U.S. Energy Department. In view of the San Francisco-based company's financial problems, the government cut off the grant when $84.8 million had been drawn. On Sept. 24, 2013, the Office of the United States Trustee for Region 14 appointed a committee of unsecured creditors. In October 2013, the bankruptcy judge cleared Ecotality to sell most of the business to Car Charging Group Inc. for $3.3 million. Two other buyers purchased other assets for $1 million in total. GLOBAL AVIATION: Ends May with $6,122 Cash Balance -------------------------------------------------- Global Aviation Holdings, Inc., et al., on July 18, 2014, filed their monthly operating report for May 2014. The Debtors' statement of operations showed total net revenue of $382,835. The Debtors, at May 31, reported $501.81 million in total assets, $351.08 million in total liabilities, and $150.73 million in total shareholders' equity. The Debtors started the month with $10,796 cash. They recorded total receipts of $421,618 and total disbursements of $426,292. As a result, the Debtors had a cash balance of $6,122 at the end of the month. A copy of the monthly operating report is available at: http://bankrupt.com/misc/GlobalAviationmorMay2014.pdf About Global Aviation Holdings Global Aviation Holdings Inc. -- http://www.glah.com-- the parent company of North American Airlines and World Airways, sought Chapter 11 bankruptcy protection on Nov. 12, 2013. North American Airlines, founded in 1989, operates passenger charter flights using B767-300ER aircraft. Founded in 1948, World Airways -- http://www.woa.com-- operates cargo and passenger charter flights using B747-400 and MD-11 aircraft. The parent of World Airways Inc. and North American Airlines Inc. implemented a prior Chapter 11 reorganization in February 2013. The new case is In re Global Aviation Holdings Inc., 13-12945, U.S. Bankruptcy Court, District of Delaware (Wilmington). The prior case was In re Global Aviation Holdings Inc., 12-bk-40783, U.S. Bankruptcy Court, Eastern District New York (Brooklyn). Peachtree City, Georgia-based Global blamed the new bankruptcy on decreased flying for the government that reduced revenue for the first nine months of this year to $354 million from $486 million in the same period of 2012. The 2013 petition shows assets and debt both exceeding $500 million. In the first bankruptcy, Global listed $589.8 million in assets and debt of $493.2 million. In the 2013 case, the Debtors are represented by Kourtney Lyda, Esq., at Haynes and Boone, LLP, in Houston, Texas; and Christopher A. Ward, Esq., at Polsinelli PC, in Wilmington, Delaware. The first lien agent is represented by Michael L. Tuchin, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP, in Los Angeles, California. Wells Fargo Bank, National Association, agent to the second lienholders and third lienholders, is represented by Mildred Quinones-Holmes, Esq., at Thompson Hines LLP, in New York. The Deal reported that World Airways Inc. ceased operations on March 27, 2014, after its bankrupt parent was unable to secure necessary funding to keep the charter operator airborne. GLOBAL GEOPHYSICAL: Lists $11.92 Million Net Loss in June --------------------------------------------------------- Autoseis, Inc., Global Geophysical Services, Inc., and their debtor affiliates filed a monthly operating report with the U.S. Securities and Exchange Commission for June 2014. The Debtor incurred a net loss of $11.92 million with a total revenue of $13.44 million in June, an improvement from the $18.17 million net loss incurred in May. At June 30, the Debtors declared total assets of $423.53 million, total liabilities of $469.51 million, and total shareholders' equity of -$45.98 million. The Debtors started the month with $36.83 million cash. They listed $1405 million in total receipts and $22.87 million in total disbursements. At month end, the Debtors had $28.21 million cash with additional $255,000 in adjustments related to prior periods and unrecorded disbursements for prior periods. A copy of the June monthly operating report is available at the SEC at http://is.gd/noecQz About Global Geophysical, Autoseis et al. Global Geophysical Services Inc., a provider of seismic data for the oil and gas drilling industry, sought bankruptcy protection, intending to reorganize on its own with additional capital or explore a sale or other transaction. Based in Missouri City, Texas, Global Geophysical disclosed assets of $468.7 million and liabilities totaling $407.3 million as of Sept. 30, 2013. Liabilities include $81.8 million on a secured term loan owing to TPG Specialty Lending Inc. and Tennenbaum Capital Partners LLC. TPG is the lenders' agent. Global also owes $250 million on two issues of 10.5 percent senior unsecured notes, with Bank of New York Mellon Trust Co. as indenture trustee. Global Geophysical and five affiliates, including Autoseis, Inc. (lead debtor), filed Chapter 11 petitions in Corpus Christi, Texas (Bankr. S.D. Tex. Lead Case No. 14-20130) on March 25, 2014. The Debtors are represented by C. Luckey McDowell, Esq., Omar Alaniz, Esq., and Ian E. Roberts, Esq., at Baker Botts, LLP, in Dallas, Texas; and Shelby A. Jordan, Esq., and Nathanial Peter Holzer, Esq., at Jordan, Hyden, Womble, Culbreth, & Holzer, PC in Corpus Christi, Texas. Alvarez & Marsal serves as the Debtors' restructuring advisors, Fox Rothschild Inc. as financial advisor, and Prime Clerk as claims and noticing agent. The U.S. Trustee for Region 7, has selected seven creditors to the Official Committee of Unsecured Creditors. The Committee tapped Greenberg Traurig, LLP as counsel; and Lazard Freres & Co. LLC and Lazard Middle Market LLC, as financial advisors and investment bankers. The Ad Hoc Group of Noteholders and the DIP Lenders are represented by Marty L. Brimmage, Jr., Esq., Charles R. Gibbs, Esq., Michael S. Haynes, Esq., and Lacy M. Lawrence, Esq., at Akin Gump Strauss Hauer & Feld LLP. Prepetition secured lender TPG is represented by David M. Bennett, Esq., Tye C. Hancock, Esq., and Joseph E. Bain, Esq., at Thompson & Knight LLP; and Adam C. Harris, Esq., Lawrence V. Gelber, Esq., David M. Hillman, Esq., and Brian C. Tong, Esq., at Schulte Roth & Zabel LLP. HOUSTON REGIONAL: Posts $71.3 Million Net Loss in May 2014 ---------------------------------------------------------- David Barron, writing for the Houston Chronicle, reported that Houston Regional Sports Network, the parent company of Comcast SportsNet Houston, filed with the Bankruptcy Court a monthly operating report for May 2014. It disclosed: 1. total liabilities of $213.1 million, which includes $130 in pre-petition liabilities, most of which is a $100 million secured provided by Comcast in the fall of 2012. 2. post-petition liabilities of $82.8 million, which includes $67.7 million for rights fees (about $9 million per month) owed the Houston Rockets and Astros. 3. a $71.3 million net loss as of the end of May. About Houston Regional Sports Network An involuntary Chapter 11 bankruptcy petition was filed against Houston Regional Sports Network, L.P. d/b/a Comcast SportsNet Houston (Bankr. S.D. Tex. Case No. 13-35998) on Sept. 27, 2013. The involuntary filing was launched by three units of Comcast/NBC Universal and a television-related company. The petitioners are: Houston SportsNet Finance LLC, Comcast Sports Management Services LLC, National Digital Television Center LLC, and Comcast SportsNet California, LLC. The petitioning creditors have filed papers asking the Bankruptcy Judge to appoint an independent Chapter 11 trustee "to conduct a fair and open auction process for the Network's business assets on a going concern basis." Houston Regional Sports Network is a joint enterprise among affiliates of the Houston Astros baseball team, the Houston Rockets basketball team, and Houston SportsNet Holdings, LLC -- "Comcast Owner" -- an affiliate of Comcast Corporation. The Network has three limited partners -- Comcast Owner, Rockets Partner, L.P., and Astros HRSN LP Holdings LLC. The primary purpose of Houston Regional Sports Network is to create and operate a regional sports programming service that produces, exhibits, and distributes sports programming on a full-time basis, including live Astros and Rockets games within the league- permitted local territories. Counsel for the petitioning creditors are Howard M. Shapiro, Esq., at Wilmer Cutler Pickering Hale and Dorr LLP; George W. Shuster, Jr., Esq., at Wilmer Cutler Pickering Hale and Dorr LLP; Vincent P. Slusher, Esq., at DLA Piper; and Arthur J. Burke, Esq., at Davis Polk & Wardwell LLP. Judge Marvin Isgur presides over the case. The Network was officially placed into Chapter 11 bankruptcy pursuant to a Feb. 7 Order for Relief. It has won approval to hire Haynes and Boone, Charles A. Beckham, Jr., Esq., Henry Flores, Esq., Abigail Ottmers, Esq., and Christopher L. Castillo, Esq., as counsel. It also hired Conway MacKenzie, Inc., as financial advisor. Harry Perrin, Esq., represents Astros owner Jim Crane. Alan Gover, Esq., represents the Rockets. The Astros are represented by Richard B. Drubel, Esq., Colleen A. Harrison, Esq., and Jonathan R. Voegele, Esq., at Boies, Schiller & Flexner LLP, in Hanover, NH; and Scott E. Gant, Esq., at Boies, Schiller & Flexner in Washington, DC. Comcast Corporation and NBCUniversal Media, LLC, are represented by Vincent P. Slusher, Esq., Eli Burriss, Esq., Andrew Mayo, Esq., and Andrew Zollinger, Esq., at DLA Piper; Arthur J. Burke, Esq., Timothy Graulich, Esq., and Dana M. Seshens, Esq., at Davis Polk & Wardwell LLP; and Howard M. Shapiro, Esq., and Craig Goldblatt, Esq., at Wilmer Cutler Pickering Hale and Dorr LLP. Attorney for McLane Champions, LLC and R. Drayton McLane, Jr., are Wayne Fisher, Esq., at Fisher Boyd & Huguenard, LLP. JAMES RIVER COAL: Net Loss Balloons to $60.78 Million at June 30 ---------------------------------------------------------------- James River Coal Company filed, on July 30, 2014, a monthly operating report for the month of June 2014. The Debtor suffered a $60.78 million net loss on $49.67 million of total revenues for June, a large increase from the $13.84 million net loss incurred in May. At June 30, the Debtor had total assets of $870.18 million, total liabilities of $943.40 million, and a total shareholders' deficit of $73.23 million. The Debtor listed total receipts of $52.12 million and total disbursements of $40.71 million for the current reporting period. A copy of the monthly operating report is available at: http://bankrupt.com/misc/JAMESRIVERCOALjune2014mor.pdf 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. The Debtors are represented by Tyler P. Brown, Esq., Henry P. (Toby) Long, III, Esq., and Justin F. Paget, Esq. at Hunton & Williams LLP of Richmond, VA and Marshall S. Huebner, Esq, Brian M. Resnick, Esq., and Michelle M. McGreal, Esq. at Davis Polk & Wardwell LLP of New York, NY. 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. KID BRANDS: Suffers $3.43 Million Net Loss at June 30 ----------------------------------------------------- Kid Brands, Inc., et al., filed a monthly operating report with the U.S. Securities and Exchange Commission for the period from June 19 through June 30, 2014. The Debtors suffered a $3.43 million net loss on total revenues of $761,965 for the current reporting period. As of June 30, the Debtors had $63.13 million in total assets, $98.33 million in total liabilities, and -$35.20 million in total shareholders' equity. The Debtors listed total receipts of $4.28 million and total disbursements of $47.04 million for the reporting period. A copy of the monthly operating report is available at the SEC at http://is.gd/gUVO2p 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. MEE APPAREL: Net Loss Down to $578,663 at June 30 ------------------------------------------------- MEE Apparel LLC filed, on July 25, 2014, a monthly operating report for June 2014. The Debtor suffered a $578,663 net loss in June, a big decrease from the $1.32 million net loss recorded for the previous month. The Debtor, at June 30, had $2.93 million in total assets, $7.43 million in total current liabilities, $19.30 million in total liabilities subject to compromise, and -$23.80 million in total shareholders' equity. The Debtor posted total cash receipts of $468,573 and total cash payments of $3.80 million for the reporting period. A copy of the monthly operating report is available at: http://bankrupt.com/misc/MEEAPPARELjune2014mor.pdf About MEE Apparel Founded in 1993 by Marc Ecko, Gerszberg and Marci Tapper, MEE Apparel LLC and MEE Direct LLC are providers of youth apparel and streetwear under the "Ecko Unltd." and "Unltd." brands. Evolving from just six t-shirts and a can of spray paint, MEE has become a full scale global fashion and lifestyle company. In 2013, MEE Apparel generated gross sales of approximately $50 million. MEE Apparel LLC and MEE Direct LLC filed Chapter 11 bankruptcy petitions (Bankr. D.N.J. Case Nos. 14-16484 and 14-16486) on April 2, 2014. As of the Petition Date, the Debtors had assets of approximately $30 million and liabilities of $62 million, including $25 million of debt outstanding to unsecured creditors. Judge Christine M. Gravelle presides over the Chapter 11 cases. The petitions were signed by Jeffrey L. Gregg as chief restructuring officer. Cole, Schotz, Meisel, Forman & Leonard, P.A., serves as the Debtor's counsel. Prime Clerk LLC is the Debtor's claims and noticing agent. Innovation Capital, LLC, acts as the Debtor's investment banker. The U.S. Trustee for Region 3 has appointed five members to the Official Committee of Unsecured Creditors. Counsel for Committee is David M. Posner, Esq., Otterbourg, P.C., in New York. The Committee also retains Capstone Advisory Group LLC as financial advisor. Suchman LLC closed the purchase of substantially all of MEE's assets pursuant to the asset purchase agreement dated May 30, 2014. The sale was valued at $12 million. On Aug. 5, 2014, the Bankruptcy Court confirmed the plan of liquidation proposed by MEE Apparel LLC and MEE Direct LLC. Suchman LLC, as the new owner of MEE Apparel assets, will assume $6 million of the company's factoring agreements with Rosenthal & Rosenthal Inc. MOMENTIVE PERFORMANCE: Net Loss Increases to $30.07MM at June 30 ---------------------------------------------------------------- MPM Silicones, LLC, et al., filed a monthly operating report with the U.S. Securities and Exchange Commission for June 2014. The Debtors incurred a net loss of $30.07 million on total net sales of $101.86 million for the month. At June 30, the Debtors recorded total assets of $2.61 billion, total liabilities of $5.05 billion and total shareholder's deficit of $2.44 billion. The Debtors posted total cash receipts of $394.99 million and total cash disbursements of $387.90 million for the reporting period. A copy of the June monthly operating report is available at the SEC at http://is.gd/8GGlKm About Momentive Performance Momentive Performance is one of the world's largest producers of silicones and silicone derivatives, and is a global leader in the development and manufacture of products derived from quartz and specialty ceramics. Momentive has a 70-year history, with its origins as the Advanced Materials business of General Electric Company. In 2006, investment funds affiliated with Apollo Global Management, LLC, acquired the company from GE. As of Dec. 31, 2013, the Company had 4,500 employees worldwide, of which 46% of the Company's employees are members of a labor union or are represented by workers' councils that have collective bargaining agreements. Momentive Performance Materials Inc., Momentive Performance Materials Holdings Inc., and their affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 14-22503) on April 14, 2014, with a deal with noteholders on a balance-sheet restructuring. As of Dec. 31, 2013, the Debtors had $4.114 billion of consolidated outstanding indebtedness, including payments due within the next 12 months and short-term borrowings. The Debtors said that the restructuring will eliminate $3 billion in debt. The Debtors have tapped Willkie Farr & Gallagher LLP as bankruptcy counsel with regard to the filing and prosecution of these chapter 11 cases; Sidley Austin LLP as special litigation counsel; Moelis & Company LLC as financial advisor and investment banker; AlixPartners, LLP as restructuring advisor; PricewaterhouseCoopers as auditor; and Crowe Horwath LLP as benefit plan auditor. Kurtzman Carson Consultants LLC is the notice and claims agent. The U.S. Trustee for Region 2 appointed seven members to serve on the Official Committee of Unsecured Creditors of the Debtors' cases. Klee, Tuchin, Bogdanoff & Stern LLP serves as its counsel. FTI Consulting, Inc., serves as its financial advisor. Rust Consulting Omni Bankruptcy serves as its information agent. OPTIM ENERGY: Reports $3.30MM Operating Loss for May ---------------------------------------------------- Optim Energy, LLC, and its affiliates, on July 7, 2014, filed a monthly operating report for May 2014. The Debtors' consolidated statement of operations recorded a $3.30 million operating net loss on operating revenues of $28.86 million for May. Reorganization costs of $3.10 million contributed to a net loss of $6.40 million for the month. At May 31, the Debtors' consolidated balance sheet recorded total assets of $580.35 million, total liabilities of $1.033 billion, and a total shareholders' equity of -($453.40 million). Optim Energy LLC started May with $24.31 million cash. It recorded total receipts of $19,048 and total disbursements of $3.09 million for the reporting period. After taking into account some net intercompany transaction, the Debtor listed an ending cash balance of $25.97 million. A copy of the monthly operating report is available at: http://bankrupt.com/misc/OPTIM_May2014mor.pdf About Optim Energy Optim Energy, LLC, and its affiliates are power plant owners principally engaged in the production of energy in Texas's deregulated energy market. Optim owns and operates three power plants in eastern Texas: the Twin Oaks plant in Robertson County, Texas, the Altura Cogen plant in Harris County, Texas and the Cedar Bayou plant in Chambers County, Texas. The Altura and Cear Bayou plants are fueled by natural gas, and the third is coal- fired. Optim Energy and its affiliates sought Chapter 11 protection from creditors (Bankr. D. Del. Lead Case No. 14-10262) on Feb. 12, 2014. The Debtors have tapped Bracewell & Giuliani LLP and Morris, Nichols, Arsht & Tunnell LLP as attorneys; Protiviti Inc. as restructuring advisors; and Prime Clerk LLC as claims agent. Optim Energy, LLC scheduled $6,948,418 in assets and $716,561,450 in liabilities. Optim Energy Cedar Bayou 4, LLC, disclosed $183,694,097 in assets and $717,646,180 in liabilities as of the Chapter 11 filing. The Debtors have $713 million of outstanding principal indebtedness. On Feb. 27, 2014, Roberta A. DeAngelis, U.S. Trustee for Region 3, notified the Bankruptcy Court that she was unable to appoint an official committee of unsecured creditors in the Debtors' cases. The U.S. Trustee explained that there were insufficient responses to her communication/contact for service on the committee. REGIONAL CARE: Lists $474,452 Total Assets at May 31 ---------------------------------------------------- Regional Care Services Corporation filed, on June 26, 2014, a monthly operating report for May 2014. The Debtor posted a net loss of $2,176 on zero revenue for the month. At May 31, the Debtor listed total assets of $474,452 and total current liabilities of $474,452. A copy of the monthly operating report is available at: http://bankrupt.com/misc/REGIONALCAREmay2014mor.pdf About Casa Grande Community Hospital and Regional Care Services Regional Care Services Corp., Casa Grande Community Hospital d/b/a Casa Grande Regional Medical Center, Regional Care Physician's Group, Inc., and Casa Grande Regional Retirement Community sought Chapter 11 protection (Bankr. D. Ariz. Lead Case No. 14-01383) in Tucson, Arizona, on Feb. 4, 2014. The Debtors, one of the largest employers in Pinal County, operate an award winning, full service non-profit community hospital serving more than 65,000 patients each year from the largely rural communities of Casa Grande, Sacaton, Eloy, Florence and surrounding communities. CGRMC is a 177-licensed bed, general acute care hospital located in Casa Grande, Arizona. RCSC is the sole member and sponsor of CGRMC, RCPG and CGRRC. As of the Petition Date, CGRRC's management consists of Rona Curphy as President, Cherie McGlynn as Chairman, David Fitzgibbons as Vice Chairman, and John Robert McEvoy as Secretary/Treasurer. Michael McGrath, Esq., and Kasey C. Nye, Esq., at Mesch, Clark & Rothschild, P.C., in Tucson, Arizona; and Michael J. Pankow, Esq., and Joshua M. Hantman, Esq., at Brownstein Hyatt Farber Schreck, LLP, in Denver, Colorado, serve as counsel to the Debtor. Casa Grande Hospital estimated $50 million to $100 million in assets and liabilities. On May 15, 2014, Judge Eileen W. Hollowell of the U.S. Bankruptcy Court for the District of Arizona confirmed the Second Amended Joint Chapter 11 Plan of Reorganization for the Debtors. The Plan provides for the sale of substantially all of the Debtors' assets to Banner Health pursuant to an asset purchase agreement dated Feb. 4, 2014; the assumption and assignment to the Buyer of certain executory contracts and unexpired leases; and the creation of a creditor trust to, among other things, liquidate and administer remaining assets, analyze, object to and resolve claims, prosecute, abandon and resolve causes of action, make distributions to holders of allowed claims and wind-down the estates. Scott Davis will be appointed as Creditor Trustee. Banner Health also provided $6.2 million of DIP financing. Banner Health is represented in the case by Robert M. Charles, Jr., Esq., and Susan M. Freeman, Esq., at Lewis Roca Rothgerber LLP, as counsel. SCOOTER STORE: Cash Balance Decreases to $1.29 Million at June 30 ----------------------------------------------------------------- The Scooter Store Holdings, Inc., et al., on July 22, 2014, filed their monthly operating report for June 2014. The Debtors incurred a net loss of $6,018 for the current reporting period, an improvement from the $415,324 net loss posted in May. The Debtor reported total assets of $1.62 million, total liabilities of $120.31 million, and a total shareholders' equity of -$118.69 million. The Debtors had $1.34 million cash at June 1. They listed total receipts of $1.10 milion, total operating disbursements of $55,724, and total non-operating disbursements of $1.13 million. The disbursements include professional fees of $37,806. At the end of the month, the Debtors had $1.29 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/ScooterStoreHoldingsmorJune2014.pdf About The Scooter Store The Scooter Store is a supplier of power mobility solutions, including power wheelchairs, scooters, lifts, ramps, and accessories. The Scooter Store's products and services provide today's seniors and disabled persons potential alternatives to living in nursing homes or other care facilities. Headquartered in New Braunfels, Texas, the Scooter Store has a nationwide network of distribution centers that service products owned or leased by the Company's customers. It has 57 distribution centers in 41 states. Scooter Store Holdings Inc., and 71 affiliates filed for Chapter 11 bankruptcy (Bankr. D. Del. Lead Case No. 13-10904) in Wilmington. The closely held company listed assets of less than $10 million and debt of more than $50 million. Affiliates of private equity firm Sun Capital Partners, based in Boca Raton, Florida, purchased a majority voting interest in the debtors in 2011. Scooter Store is 66.8 percent owned by Sun Capital Partners Inc., owed $40 million on a third lien. In addition to Sun's debt and $25 million on a second lien owing to Crystal Financial LLC, there is a $25 million first-lien revolving credit owing to CIT Healthcare LLC as agent. Crystal is providing $10 million in financing for bankruptcy. USEC INC: June Net Loss Increases to $5.82 Million -------------------------------------------------- USEC Inc. filed a monthly operating report with the U.S. Securities and Exchange Commission for June 2014. The Debtor suffered a $5.82 million net loss over $7.13 million total revenue for the month, an increase from the $3.51 million net loss listed at May 31. At June 30, the Debtor had total assets of $541.50 million, total liabilities of $1.08 billion, and a total total stockholders' equity of -$536.20 million. The Debtor started the month with a cash balance of $3.67 million cash. It recorded total operating receipts of $13.93 million and total disbursements of $11.28 million. Funding activities provided an additional $573,000. At month end, the Debtor had an ending cash (book balance) of $6.89 million. With the inclusion of $480,000 in outstanding checks, the Debtors listed an ending cash (bank balance) of $7.37 million. A copy of the April monthly operating report is available at the SEC at http://is.gd/2Hqiac 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. ********* 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. 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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. 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