/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/140816.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 16, 2014, Vol. 18, No. 226 Headlines COLDWATER CREEK: Net Loss Down to $12.52 Million at July 5 DIGITAL DOMAIN: Net Loss Slightly Increases to $1.07MM at May 31 EDGENET INC: Ends June with $18.92 Million Cash Balance ENERGY FUTURE: Net Loss Decreases to $215.07 Million in June F&H ACQUISITION: Posts $114,000 Net Loss at June 17 HOSPITALITY STAFFING: Has $581,024 Cash Balance at June 27 HOSTESS BRANDS: Net Loss Slightly Up to $3.25MM at June 28 INTERNATIONAL FOREIGN: Cash Balance Still at $6.98MM at June 30 NOBLE LOGISTICS: Has $13.34-Mil. Shareholders' Equity at June 30 OPTIM ENERGY: Gains $9.33 Million Net Operating Income in June WINDSOR PETROLEUM: Files Initial Monthly Operating Report ********* COLDWATER CREEK: Net Loss Down to $12.52 Million at July 5 ---------------------------------------------------------- Coldwater Creek, Inc., et al., on July 31, 2014, filed a monthly operating report for the period from June 1 through July 5, 2014. The Debtors incurred a net loss of $12.52 million over total net sales of $2.01 million for the reporting period, an improvement from the $53.13 million net loss suffered at May 31. The Debtors declared total assets of $159.95 million, total liabilities of $317.17 million, and a total shareholders' deficit of $157.23 million. At June 1, the Debtors had a cash balance of $89.33 million. They posted total receipts of $105.44 million and total disbursements of $119.52 million. At July 5, the Debtors had $72.52 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/COLDWATERCREEKjune-july2014mor.pdf About Coldwater Creek Coldwater Creek is a multi-channel retailer that offers its merchandise through retail stores across the country, its catalog and its e-commerce Web site, http://www.coldwatercreek.com/ Originally founded in Sandpoint, Idaho in 1984 as a direct, catalog-based marketer, Coldwater evolved into a multi-channel specialty retailer operating 334 premium retail stores, 31 factory outlet stores and seven day spa locations throughout the United States. As of the bankruptcy filing, the Debtors domestically employ a total of approximately 5,990 employees throughout their retail locations, corporate headquarters and distribution, design and call centers. Coldwater Creek Inc. and its debtor-affiliates sought Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10867) on April 11, 2014, to liquidate their assets. Coldwater Creek Inc. disclosed assets of $721,468,388 plus undetermined amount and liabilities of $425,475,739 plus undetermined amount. Affiliate Coldwater Creek U.S. Inc. estimated $100 million to $500 million in assets and liabilities. The Debtors have drawn $37.5 million and have approximately $10 million in letters of credit outstanding under a senior secured credit facility (ABL facility) provided by lenders led by Wells Fargo Bank, National Association, as agent. The Debtors also owe $96 million, which includes accrued interest and approximately $23 million representing a prepayment premium payable, under a term loan from lenders led by CC Holding Agency Corporation, as agent. Aside from the funded debt, the Debtors have accumulated a significant amount of accrued and unpaid trade and other unsecured debt in the normal course of their business. The Debtors have tapped Young Conaway Stargatt & Taylor, LLP, and Shearman & Sterling LLP as attorneys, Perella Weinberg Partners LP as financial advisor, Alvarez & Marsal as restructuring advisor, and Prime Clerk LLC as claims and noticing agent. The U.S. Trustee for Region Three named seven creditors to serve on the official committee of unsecured creditors. Lowenstein Sandler LLP represents the Committee. DIGITAL DOMAIN: Net Loss Slightly Increases to $1.07MM at May 31 ---------------------------------------------------------------- DDMG Estate, fka Digital Domain Media Group, Inc., and its subsidiaries, on August 5, 2014, filed their monthly operating report for the month of May 2014. The Debtors incurred in May a $1.07 million net loss on zero revenues, a slight increase from the $1.06 million net loss posted for the previous month. At May 31, the Debtors had total assets of $11.59 million, total liabilities of $128.61 million, and a total netowner equity of -$117.02 million. The Debtors started the month with a cash balance of $5.23 million. They listed total receipts of $50,595, and total disbursements of $120,381, a big portion of which is $112,829 for professional fees. At month end, the Debtors had $5.16 million cash at May 31. A copy of the monthly operating report is available at: http://bankrupt.com/misc/DIGITALDOMAINmay2014mor.pdf About Digital Domain Port St. Lucie, Florida-based Digital Domain Media Group, Inc. -- http://www.digitaldomain.com/-- engaged in the creation of original content animation feature films, and development of computer-generated imagery for feature films and trans-media advertising primarily in the United States. Digital Domain Media Group, Inc. and 13 affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 12-12568) on Sept. 11, 2012, to sell its business for $15 million to Searchlight Capital Partners LP, subject to higher and better offers. The Company disclosed assets of $205 million and liabilities totaling $214 million. The Debtors also have sought ancillary relief in Canada, pursuant to the Companies' Creditors Arrangement Act in the Supreme Court of British Columbia, Vancouver Registry. Attorneys at Pachulski Stang Ziehl & Jones serve as counsel to the Debtors. FTI Consulting, Inc.'s Michael Katzenstein is the chief restructuring officer. Kurtzman Carson Consultants LLC is the claims and notice agent. An official committee of unsecured creditors appointed in the case is represented by lawyers at Sullivan Hazeltine Allinson LLC and Brown Rudnick LLP. At a bankruptcy auction, the principal part of the business was purchased by a joint venture between Galloping Horse America LLC, an affiliate of Beijing Galloping Horse Co., and an affiliate of Reliance Capital Ltd., based in Mumbai. The $36.7 million total value of the contact includes $3.6 million to cure defaults on contracts and $2.9 million in reimbursement of payroll costs. As the result of a settlement negotiated by the unsecured creditors' committee with secured lenders, there will be some recovery for the committee's constituency. EDGENET INC: Ends June with $18.92 Million Cash Balance ------------------------------------------------------- Edgenet, Inc., nka EI Windown Inc., on July 31, 2014, filed a monthly operating report for June 2014. The Debtor posted a net loss of $11.40 million on total revenues of $443,000 for June, a large increase from the $764,000 net loss incurred the previous month. At June 30, the Debtor had total assets of $19.19 million, total liabilities of $108.56 million, and a total shareholders' equity of -$222.50 million. The Debtor started June with $12.11 million cash. It recorded total receipts of $8.31 million and total disbursements of $1.51 million. The disbursements include professional fees of $554,696. At month end, the Debtor had $18.92 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/Edgenet_356_morJune2014.pdf 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. The Bankruptcy Court has approved the change of name of Edgenet Inc., to EI Wind Down, Inc., and Edgenet Holding Corporation to EHC Holding Wind Down Corp. ENERGY FUTURE: Net Loss Decreases to $215.07 Million in June ------------------------------------------------------------ Energy Future Holdings Corp., et al., on August 8, 2014, filed a monthly operating report for June 2014. Energy Future Holdings (EFH) incurred a $215.07 million net loss on zero revenues for June, a decrease from the $283.98 million net loss incurred for the previous month. At June 30, EFH recorded $9.42 billion in total assets, $5.11 billion in total liabilities, and -$14.53 million in total shareholders' equity. The consolidated statement of cash flows shows that the Debtors had $1.17 billion cash at the beginning of the month. They listed total cash receipts of $4.62 billion and total cash disbursements of $3.11 billion for the month. They ended June with $2.63 billion in cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/EnergyFuture_1790_morJune2014.pdf About Energy Future Holdings fka TXU Corp. Energy Future Holdings Corp., formerly known as TXU Corp., is a privately held diversified energy holding company with a portfolio of competitive and regulated energy businesses in Texas. Oncor, an 80 percent-owned entity within the EFH group, is the largest regulated transmission and distribution utility in Texas. The Company delivers electricity to roughly three million delivery points in and around Dallas-Fort Worth. EFH Corp. was created in October 2007 in a $45 billion leverage buyout of Texas power company TXU in a deal led by private-equity companies Kohlberg Kravis Roberts & Co. and TPG Inc. On April 29, 2014, Energy Future Holdings and 70 affiliated companies sought Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No. 14-10979) after reaching a deal with some key financial stakeholders to keep its businesses operating while reducing its roughly $40 billion in debt. The Debtors' cases have been assigned to Judge Christopher S. Sontchi (CSS). The Debtors are seeking to have their cases jointly administered for procedural purposes. As of Dec. 31, 2013, EFH Corp. reported total assets of $36.4 billion in book value and total liabilities of $49.7 billion. The Debtors have $42 billion of funded indebtedness. EFH's legal advisor for the Chapter 11 proceedings is Kirkland & Ellis LLP, its financial advisor is Evercore Partners and its restructuring advisor is Alvarez & Marsal. The TCEH first lien lenders supporting the restructuring agreement are represented by Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor, and Millstein & Co., LLC, as financial advisor. The EFIH unsecured creditors supporting the restructuring agreement are represented by Akin Gump Strauss Hauer & Feld LLP, as legal advisor, and Centerview Partners, as financial advisor. The EFH equity holders supporting the restructuring agreement are represented by Wachtell, Lipton, Rosen & Katz, as legal advisor, and Blackstone Advisory Partners LP, as financial advisor. Epiq Systems is the claims agent. Wilmington Savings Fund Society, FSB, the successor trustee for the second-lien noteholders owed about $1.6 billion, is represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and Gregory A. Taylor, Esq., and Brown Rudnick LLP's Edward S. Weisfelner, Esq., Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq., Jeremy B. Coffey, Esq., and Howard L. Siegel, Esq. An Official Committee of Unsecured Creditors has been appointed in the case. The Committee represents the interests of the unsecured creditors of ONLY of Energy Future Competitive Holdings Company LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings Company LLC; and EFH Corporate Services Company, and of no other debtors. The Committee has selected Morrison & Foerster LLP and Polsinelli PC for representation in this high-profile energy restructuring. The lawyers working on the case are James M. Peck, Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K. Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at Polsinelli PC. F&H ACQUISITION: Posts $114,000 Net Loss at June 17 --------------------------------------------------- F&H Acquisition Corp., et al., filed on July 28, 2014, a monthly operating report for the period from May 21 through June 17, 2014. The Debtors' statement of operations showed a net loss of $114,000 on zero sales for the current reporting period. At June 17, the Debtors recorded total assets of $175.90 million, total liabilities of $172.75 million, and a total shareholders' equity of $3.14 million. The Debtors had $4.80 million cash at May 21. They posted $5,186 in total receipts, and $186,281 in total disbursements which include $37,716 in professional fees. At June 17, the Debtors had $4.62 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/F_HACQUISITIONmay-june2014mor.pdf About F & H Acquisition Corp. Wichita, Kansas-based F & H Acquisition Corp., et al., owners of the Fox & Hound, Champps, and Bailey's Sports Grille casual dining restaurants, filed a Chapter 11 petition (Bankr. D. Del. Lead Case No. 13-13220) on Dec. 16, 2013, to quickly sell their assets. As of the bankruptcy filing, the Debtors have 101 restaurants located in 27 states and 6,000 employees. Sales decreased by approximately 9 percent over the past two years. The Debtors also experienced significant inflation in commodity prices, energy prices and labor costs. F&H estimated assets in excess of $100 million. According to a court filing, outstanding debt obligations total $119 million, including $68.4 million owing on a first-lien loan with General Electric Capital Corp. as agent. The $11.2 million second-lien obligation has Cerberus Business Finance LLC as agent. Unsecured trade suppliers and landlords are owed $11.2 million. F & H Acquisition Corp., disclosed $122,115,200 in assets and $122,579,631 in liabilities as of the Chapter 11 filing. The senior lenders are to provide $9.6 million in financing for the bankruptcy, with $3.5 million on an interim basis. The parent holding company, F&H Acquisition Corp., is based in Wichita, Kansas. The Debtors are represented by Robert S. Brady, Esq., Robert F. Poppiti, Jr., Esq., and Rodney Square, Esq., at Young, Conaway, Stargatt & Taylor, LLP of Wilmington, DE; and Adam H. Friedman, Esq., Jordana L. Nadritch, Esq., and Jonathan T. Koevary, Esq. at Olshan Frome Wolosky, LLP of New York, NY. Imperial Capital LLC as financial advisor; and Epiq Bankruptcy Solutions as claims and noticing agent. The U.S. Trustee appointed seven members to an official committee of unsecured creditors. The Official Committee of Unsecured Creditors is represented by Bradford J. Sandler, Esq., at Pachulski Stang Ziehl & Jones, LLP, in Wilmington; and Jeffrey N. Pomerantz, Esq., at Pachulski Stang Ziehl & Jones, LLP, in Los Angeles, California. HOSPITALITY STAFFING: Has $581,024 Cash Balance at June 27 ---------------------------------------------------------- Hospitality Staffing Solutions, LLC, et al., (nka Hospitality Liquidation II, LLC), on July 28, 2014, filed their monthly operating report for the period from May 31 through June 27, 2014. The Debtors suffered a net loss of $54,977 on zero revenue for the current reporting period, an improvement from the 129,466 net loss incurred at May 30. The Debtors declared $572,190 in total assets, $14.08 million in total liabilities, and a -$13.51 million total shareholders' equity. The Debtors had a cash balance of $619,602 at May 31. They reported zero receipts and $38,578 in total disbursements. At June 27, the Debtors had $581,024 cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/HOSPITALITYSTAFFINGmay-june2014mor.pdf About Hospitality Staffing Solutions Hospitality Staffing Solutions, LLC (HSS) -- http://www.hssstaffing.com-- is a hospitality staffing company. Established in 1990, the company's team of hotel industry experts works with 4 and 5 star properties in 35 states and 62 markets across the country. Hospitality Staffing Solutions and various affiliates filed voluntary Chapter 11 petitions (Bankr. D. Del. Lead Case No. 13-12740) on Oct. 24, 2013, before Judge Brendan Linehan Shannon. The Debtors are represented by Mark Minuti, Esq., at Saul Ewing LLP, in Wilmington, Delaware; and Jeffrey C. Hampton, Esq., Monique Bair DiSabatino, Esq., and Ryan B. White, Esq., at Saul Ewing LLP, in Philadelphia, Pennsylvania. The Debtors' financial advisor is Conway Mackenzie, Inc., and their investment banker is Duff & Phelps Corp. Epiq Systems, Inc., is the Debtors' claims and noticing agent. HSS Holding disclosed assets of undetermined amount and liabilities of $22,910,994. The investor group is providing DIP financing. They are represented by Scott K. Charles, Esq., and Neil M. Snyder, Esq., at Wachtell, Lipton, Rosen & Katz, in New York; and Derek C. Abbott, Esq., at Morris, Nichols, Arsht & Tunnell LLP, in Wilmington, Delaware. Roberta A. DeAngelis, U.S. Trustee for Region 3, has notified the Bankruptcy Court that she was unable to appoint a committee of unsecured creditors in the Debtors' cases as there was insufficient response to the U.S. Trustee communication/contact for service on the committee. The Debtors filed for bankruptcy to facilitate a sale of the business to HS Solutions Corporation, an entity formed by LJC Investments I, LLC and a group of investors including Littlejohn Opportunities Master Fund, L.P., Caymus Equity Partners and Management, and SG Distressed Debt Fund LP. The investor group acquired $22.9 million of the secured bank debt on Oct. 11, 2013. That debt is in default. The asset purchase agreement with HS Solutions was approved by the Court on Dec. 13, 2013. The sale closed on Jan. 24, 2014. HOSTESS BRANDS: Net Loss Slightly Up to $3.25MM at June 28 ---------------------------------------------------------- Old HB, Inc., (fka Hostess Brands, Inc.), et al., filed on Aug. 1, 2014, their monthly operating report for the period from June 1 to 28, 2014. The Debtors posted a net loss of $3.25 million on zero revenue for the current reporting period, a small decrease from the $3.63 million net loss reported at May 31. At June 28, the Debtors recorded $205.09 million in total assets, $2.65 billion in total liabilities, and $2.45 billion in total shareholders' deficit. The Debtors had $29.27 million cash at the beginning of the period. They listed total receipts of $997,000 and total disbursements of $1.05 million. The disbursements include $312,000 in professional fees. At June 28, the Debtors had a cash balance of $29.21 million. A copy of the monthly operating report is available at: http://bankrupt.com/misc/HOSTESSBRANDSjune2014mor.pdf About Hostess Brands Founded in 1930, Irving, Texas-based Hostess Brands Inc., is known for iconic brands such as Butternut, Ding Dongs, Dolly Madison, Drake's, Home Pride, Ho Hos, Hostess, Merita, Nature's Pride, Twinkies and Wonder. Hostess has 36 bakeries, 565 distribution centers and 570 outlets in 49 states. Hostess filed for Chapter 11 bankruptcy protection early morning on Jan. 11, 2011 (Bankr. S.D.N.Y. Case Nos. 12-22051 through 12-22056) in White Plains, New York. Hostess Brands disclosed assets of $982 million and liabilities of $1.43 billion as of the Chapter 11 filing. The bankruptcy filing was made two years after predecessors Interstate Bakeries Corp. and its affiliates emerged from bankruptcy (Bankr. W.D. Mo. Case No. 04-45814). In the new Chapter 11 case, Hostess has hired Jones Day as bankruptcy counsel; Stinson Morrison Hecker LLP as general corporate counsel and conflicts counsel; Perella Weinberg Partners LP as investment bankers, FTI Consulting, Inc. to provide an interim treasurer and additional personnel for the Debtors, and Kurtzman Carson Consultants LLC as administrative agent. Matthew Feldman, Esq., at Willkie Farr & Gallagher, and Harry Wilson, the head of turnaround and restructuring firm MAEVA Advisors, are representing the Teamsters union. Attorneys for The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union and Bakery & Confectionery Union & Industry International Pension Fund are Jeffrey R. Freund, Esq., at Bredhoff & Kaiser, P.L.L.C.; and Ancela R. Nastasi, Esq., David A. Rosenzweig, Esq., and Camisha L. Simmons, Esq., at Fulbright & Jaworski L.L.P. The official committee of unsecured creditors selected New York law firm Kramer Levin Naftalis & Frankel LLP as its counsel. Tom Mayer and Ken Eckstein head the legal team for the committee. Hostess Brands in mid-November 2012 opted to pursue the orderly wind down of its business and sale of its assets after the Bakery, Confectionery, Tobacco and Grain Millers Union (BCTGM) commenced a nationwide strike. The Debtor failed to reach an agreement with BCTGM on contract changes. Hostess Brands sold its businesses and most of the plants to five different buyers for an aggregate of $860 million. Hostess still has some plants, depots and other facilities the buyers didn't acquire. The bankruptcy estate has changed its name to Old HB Inc. INTERNATIONAL FOREIGN: Cash Balance Still at $6.98MM at June 30 --------------------------------------------------------------- International Foreign Exchange Concepts Holdings, Inc., et al., on July 25, 2014, filed their monthly operating report for June 2014. IEFC Holdings had $6.98 million cash at the beginning of the month. They listed zero total inflows and zero total cash outflows. As a result, cash balance remained at $6.98 million at the end of the month. A copy of the monthly operating report is available at: http://bankrupt.com/misc/INTERNATIONALFOREIGNjune2014mor.pdf About International Foreign Exchange International Foreign Exchange Concepts Holdings, Inc., and International Foreign Exchange Concepts, L.P., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 13-13380) on Oct. 17, 2013. Judge Robert Gerber oversees the case. Counsel to the Debtors is Henry P. Baer, Jr., Esq., at Finn Dixon & Herling LLP, in Stamford, Connecticut. The Debtors' restructuring advisors is CDG Group. DiConza Traurig LLP serves as conflicts counsel. The Debtors' special counsel is Withers Bergman LLP. The Debtors' notice, claims, solicitation and balloting agent is Logan & Company, Inc. Counsel to AMF-FXC Finance LLC, the DIP lender, is Michael L. Cook, Esq., and Christopher Harrison, Esq., at Schulte Roth & Zabel LLP, in New York. International Foreign Exchange Concepts Holdings Inc., the parent of investment adviser FX Concepts LLC, sold assets for $7.48 million to Ruby Commodities Inc., at an auction held Nov. 25, 2013. The sale was an old-fashioned auction with the assets first offered in six lots and then in bulk. The piecemeal auction fetched combined bids of $3.38 million. When the assets were offered in bulk, Ruby came out on top with an offer of $7.48 million, which the bankruptcy court in New York approved Nov. 26. NOBLE LOGISTICS: Has $13.34-Mil. Shareholders' Equity at June 30 ---------------------------------------------------------------- Noble Logistics, Inc., and its affiliates, on July 22, 2014, filed their monthly operating report for June 2014. The Debtors declared total assets of $15.26 million, total liabilities of $1.91 million, and a $13.34 million total shareholders' equity. The Debtors, at June 1, had a cash balance of -$976,348. They reported $96,938 in total receipts and $118,035 in total disbursements. As a result, the Debtors ended the month with a cash balance of -$997,445. A copy of the monthly operating report is available at: http://bankrupt.com/misc/NobleLogistics_197_morJune2014.pdf About Noble Logistics, Inc. Noble Logistics, Inc. filed a Chapter 11 petition (Bankr. D. Del. Case No. 14-10442) on Feb. 28, 2014 in Delaware. About eight affiliates of Noble Logistics also filed separate bankruptcy cases on Feb. 28. Gregg M. Galardi, Esq., and Emily A. Battersby, Esq. at DLA PIPER LLP, serve as counsel to the Debtor. The Debtor estimated $10 million to $50 million in both assets and liabilities. On March 24, 2014, Roberta A. DeAngelis, U.S. Trustee Region 3, notified the Bankruptcy Court that she has been unable to appoint a creditors committee in the Debtors' Chapter 11 cases due to insufficient response to the Trustee's communication/contact for service on the committee. OPTIM ENERGY: Gains $9.33 Million Net Operating Income in June -------------------------------------------------------------- Optim Energy, LLC, and its affiliates filed, on August 8, 2014, its monthly operating report for June 2014. The Debtors' consolidated statement of operations showed a $9.33 million net operating income on $29.87 million total operating revenues for June, an improvement from the $3.30 million net operating loss posted for the previous month. Reorganization costs of $3.53 million brings the net total income to $5.80 million. The Debtors' consolidated balance sheets recorded $961.64 million in total assets, $759.01 million in total liabilities, and $202.63 million in total shareholders' equity. Optim Energy LLC started the month with a cash balance of $21.29 million. They reported $1,867 in total receipts and $4.92 million in total disbursements. At month end, the Debtors had $22.95 million cash. A copy of the monthly operating report is available at: http://bankrupt.com/misc/OPTIMENERGYjune2014mor.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. WINDSOR PETROLEUM: Files Initial Monthly Operating Report --------------------------------------------------------- Windsor Petroleum Transport Corporation filed an initial monthly operating report on July 29, 2014, which contained a cash collateral budget for the 13-week period for the week ended July 18 through the week ended October 10, 2014. The budget projects the starting cash collateral for each week to range from $14 million to $21 million; and total disbursements for each week to range from $400,000 to $1.5 million. The Initial MOR also includes copies of insurance certificates and a schedule of retainers paid to professionals. Among the Debtors' bankruptcy professionals are Young Conaway Stargatt & Taylor and Prime Clerk. A copy of the Initial MOR is available at: http://bankrupt.com/misc/WINDSORPETROLEUMmor.pdf About Windsor Petroleum Windsor Petroleum Transport Corporation and several of its subsidiaries and related entities on July 14, 2014, filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court in Wilmington, Delaware (Lead Case No. 14-11708). The Debtors' counsel is Pauline K. Morgan, Esq., at Young Conaway Stargatt & Taylor, LLP, in Wilmington, Delaware. The Debtors' crisis managers come from AMA Capital, while their chief restructuring officer is Paul J. Leand, Jr. ********* 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. 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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. 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