TCR_Public/140916.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Tuesday, September 16, 2014, Vol. 18, No. 258

                            Headlines

ABERDEEN LAND: Seeks Voluntary Dismissal of Bankruptcy Case
ABERDEEN LAND: BBX Calls for Ch. 7 Conversion, No to Dismissal
ACCIPITER COMMUNICATIONS: Files Chapter 11 Reorganization Plan
ACCIPITER COMMUNICATIONS: May Use Cash Collateral Until Jan. 2015
AGFEED INDUSTRIES: Files Revised 2nd Amended Plan

AK STEEL: To Sell $430 Million Notes Due 2021
ALICEVILLE GOVERNMENTAL: S&P Revises CreditWatch on 'CCC' Rating
ALTEGRITY INC: Moody's Lowers Corporate Family Rating to Caa3
AMERICAN APPAREL: Amends Loan Agreement with Standard General
AMINCOR INC: Marcum Replaces Rosen Seymour as Accountants

AMSTERDAM HOUSE: Hires Cadwalader Wickersham as Attorneys
AMSTERDAM HOUSE: Taps Dennett Law as Special Financing Counsel
AMSTERDAM HOUSE: Hires Grant Thornton as Financial Advisors
ANACOR PHARMACEUTICALS: Appoints Wendell Wierenga to Board
ARAMID ENTERTAINMENT: Sues Thinkfilm Trustee to Enforce Stay

ARAMID ENTERTAINMENT: Asks Court to Extend Removal Deadline
ASARCO LLC: Supreme Court May Rule on Award to Defend Fees
ASCENT SOLAR: Regains Nasdaq Listing Compliance
ASPEN GROUP: Global Undervalued Holds 6.5% Equity Stake
ASSOCIATED WHOLESALERS: Has Interim Authority to Tap DIP Loans

BAY AREA: Re/Max Gold Approved as Real Estate Broker
BERGENFIELD SENIOR: Deal to Resolve SM Global Disputes Approved
BERNARD L. MADOFF: Trustee Wants 2nd Cir. Review of Merkin Ruling
BEVERAGE MARKETING: Faces Insolvency Over Founders' Dispute
BOREAL WATER: Incurs $88,000 Net Loss in Second Quarter

BROWN MEDICAL: Court Sets October 1 Hearing to Confirm Plan
BROWNSVILLE MD: Court Dismisses Appeal From Stay Relief Order
BROWNSVILLE MD: Wants Case Dismissed Following Foreclosure
BROWNSVILLE MD: Wants Pineda to Pay $467,867 for Contract Breach
BUDD CO: Drops Second Settlement with Parent ThyssenKrupp

BUCCANEER ENERGY: $10 Million Creditor Settlement Approved
CAESARS ENTERTAINMENT: To Begin Formal Discussions With Creditors
CD STORES: Wins Confirmation of Chapter 11 Plan
COLONIAL BANK: PwC Must Face Audit Suit, Ala. Court Says
COMMUNITYONE BANCORP: CEO Brian Simpson to Step Down

CONCRETE CORING: Case Summary & 20 Largest Unsecured Creditors
CONSTAR INTERNATIONAL: Seeks Third Extension of Exclusive Periods
CSN HOUSTON: Plan Outline Okayed; Oct. 2 Confirmation Hearing Set
DETROIT, MI: Technology Chief Describes Obsolete Computers
DETROIT, MI: Bankruptcy Legal Fees Hit $26 Million

DETROIT, MI: Stockton Acts as Template for Debt Plan
DEWEY & LEBOEUF: Executives Can't Appeal During Criminal Trial
DIGITAL DOMAIN: Panel Says Fla. Tax Credits Belong to Estate
EAGLE BULK: Files Plan Supplement; Hearing on Sept. 18
EAGLE BULK: Seeks Court Approval to Assume Modified RSA

EAGLE BULK: Files Schedules of Assets and Liabilities
EAGLE BULK: Hires PricewaterhouseCoopers as Auditors & Consultants
ERF WIRELESS: Sells 11.4% Equity Stake
EVERGREEN SKILLS: Moody's Lowers Rating on 1st Lien Debt to B2
EXIDE TECH: Alvarez & Marsal's Lewis Named Vernon Project Manager

FLAVORS HOLDINGS: Moody's Assigns 'B2' Corporate Family Rating
FLINTKOTE COMPANY: Plan Filing Date Extended to Feb. 2015
GARLOCK SEALING: Oct. 7-8 Hearing to Approve Plan Outline
GARLOCK SEALING: Wants to Establish Plan Solicitation Procedures
GARLOCK SEALING: FCR Reserves Rights on Disclosure Statement

GARLOCK SEALING: Committee Objects to Plan Disclosure Statement
GARLOCK SEALING: Coltec Should Hire McDow as Consultant, FCR Says
GARLOCK SEALING: Belluck & Fox Opposes Bid to Unseal Documents
GENAERA CORP: 3rd Cir. Asked to Revive 'Fire Sale' Investor Row
GEO GROUP: Moody's Raises Senior Unsecured Rating to 'Ba3'

GLOBAL AVIATION: U.S. Trustee Objects to Ch. 7 Conversion Bid
GOLDEN LAND: Creditors Have Until Oct. 14 to File Claim
GRAND CENTREVILLE: Court Modifies Receiver Authorization Order
GREENBRIER WHALEY: Voluntary Chapter 11 Case Summary
HORNBECK OFFSHORE: S&P Raises Corp. Credit Rating to 'BB-'

HOVNANIAN ENTERPRISES: Seeks Bondholder Consent to Incur More Debt
IBCS MINING: Taps Dove and Associates as Accountant
IBCS MINING: Court Approves Michael Dean as CFO
IBCS MINING: Gets Final Approval to Use $1.5-Mil. CTB DIP Loan
IBCS MINING: US Trustee Says Unsecured Committee Dissolved

INERGETICS INC: Amends 24.6-Mil. Shares Resale Prospectus
INT'L MANUFACTURING: Ch.11 Trustee Hires Davis Wright as Counsel
INTRAWEST RESORTS: Blue Mountain Deal No Impact on Moody's B2 CFR
INTRAWEST RESORTS: S&P Affirms 'B' CCR on Incremental Debt Add-On
IOWA GAMING: Chapter 11 Case Dismissed

ISHARES FUNDS: Moody's Withdraw Ratings of 15 Funds
IVANHOE RANCH: Hearing on Case Conversion Continued Wednesday
IXIA: Nasdaq Extends Listing Compliance Deadline to November 13
IZEA INC: CEO Buys 8,000 Common Shares
LAKSHMI HOSPITALITY: Section 341(a) Meeting Set for Oct. 7

LOUDOUN HEIGHTS: Court Won't Review Ruling Against Case Dismissal
LOUDOUN HEIGHTS: Plan Confirmation Hearing Scheduled for Oct. 23
LOUDOUN HEIGHTS: Says It Won't Fund Exit Plan Illegally
LOVE CULTURE: Salus Financing Wins Final Court Approval
MEE APPAREL: Court Confirms Liquidation Plan

MF GLOBAL: Former Officers Spent $48-Mil. in Defense Costs
MISSION NEW ENERGY: Appoints Non-Executive Director
MOLYCORP INC: Obtains $260 Million Credit Pact With Oaktree
MOLYCORP INC: Magnequench Unit Gets $75MM Term Loan From Oaktree
MOLYCORP INC: Minerals Inks Sale-Leaseback Deal With Oaktree Unit

MOMENTIVE PERFORMANCE: BOKF Wants Payment of Fees and Expenses
MORGANS HOTEL: Director Derex Walker Quits
NAARTJIE CUSTOM: Case Summary & 20 Largest Unsecured Creditors
NET ELEMENT: Presented at SeeThruEquity Conference
NET ELEMENT: Amends Public Offering Prospectus With SEC

NEW LIFE INT'L: Gets Final Chapter 11 Plan Approval
NEW WORLD RESOURCES: Pushes Through EUR255-Mil. Restructuring
NII HOLDINGS: US and Luxembourg-Based Units Seek Chapter 11
NII HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
NPS PHARMACEUTICALS: FDA Recommends Approval of Natpara(R)

OVERLAND STORAGE: Sphere Hikes Loan Commitment to $10 Million
OVERSEAS SHIPHOLDING: Court Enters Modification Order
PALM BEACH FINANCE: Funds Pay 10% Lawyers' Fee to Settle Suit
PARADIGM EAST: Files Schedules of Assets and Liabilities
PHOENIX PAYMENT: Files Schedules of Assets and Liabilities

PHOENIX PAYMENT: Defends Bid to Hire Raymond James as Banker
PLATINUM PROPERTIES: Bankruptcy Court Confirms Liquidation Plan
PRM FAMILY: Bro-Pack Balks at Plan, Seeks Ch.7 Conversion
QCE FINANCE: Wants Former Execs' Indemnification Claims Tossed
QUANTUM FUEL: Amends Lease Agreement With Braden Court

RADIOSHACK CORP: Fitch Lowers Issuer Default Rating to 'C'
RECYCLING SERVICES: Case Summary & 20 Largest Unsecured Creditors
SAN BERNARDINO, CA: Firefighters, CalPERS Respond to CBA Motion
SCRUB ISLAND: Creditors to Vote on Chapter 11 Plan
SEANERGY MARITIME: Plaza and Comet Report 25% Equity Stake

SEVEN COUNTIES: Sept. 30 Deadline for Administrative Claims Filing
SIMPLEXITY LLC: Fifth Third Says Creditors Rushing Lien Challenge
SKYLINE MANOR: Smart Devine Okayed to Perform Forensic Accounting
SOUNDVIEW ELITE: Investment Advisor Wants Stay in Proceedings
SOURCEGAS LLC: Fitch Affirms 'BB+' IDR & Revises Outlook to Pos.

SPIRE CORP: CEO LaFavre Elected to Board of Directors
STANFORD GROUP: SEC Drops Fight to Compel SIPC Repay Victims
STOCKTON, CA: Franklin Templeton Blasts Treatment In Plan
STRADELLA INVESTMENT: Bankruptcy Case Converted to Chapter 7
TAMRAC INC: Sells Business, Gets More Time to File Exit Plan

TEC/GULL CREEK: WMD Asset Management Wins Auction
TECHNA-FIT INC: Voluntary Chapter 11 Case Summary
TN-K ENERGY: Reduces CEO's Annual Salary to $42,000
TRANS-LUX CORP: Carlisle Investments Reports 11% Equity Stake
TRAVELPORT WORLDWIDE: To Sell 30 Million Shares of Common Stock

TRI COUNTY CONTRACTORS: Voluntary Chapter 11 Case Summary
TRIPLANET PARTNERS: Hearing on Case Dismissal Moved to Oct. 15
TRIPLANET PARTNERS: Lease Extension Hearing Moved to Oct. 15
TRIPLANET PARTNERS: Files Exhibit on Stamell & Schager Hiring
TRIPLANET PARTNERS: Wants Until Jan. 5 to Propose Chapter 11 Plan

VAIL RESORTS: Park City Deal No Impact on Moody's 'Ba2' CFR
VERIS GOLD: Wins Chapter 15 Protection in Nevada
VERIS GOLD: Obtains Extension of CCAA Stay Period Thru October
VERIS GOLD: Cash Collateral Use, Claims Process Approved
WEATHERBEE INVESTMENT: Case Summary & 7 Top Unsecured Creditors

WEST TEXAS GUAR: Disclosure Statement Hearing Set for Sept. 24
WEST TEXAS GUAR: Hearing on Bid to Appoint Trustee on Sept. 18
WEST TEXAS GUAR: Toyota Seeks to Repossess Tundra Vehicle
WINDSOR QUALITY: Moody's Affirms 'B2' Corporate Family Rating
WORLD IMPORTS: Courts Approves Cash Collateral Stipulation

WORLDWIDE MIXED: Court Dismisses Involuntary Chapter 11 Case
YELLOWSTONE MOUNTAIN: $41MM Judgment v. Blixseth Declared Final
ZUERCHER TRUST: Wants to Sell 2400-2424 Bayshore Bvld. Property
ZUERCHER TRUST: Oct. 2 Auction for 2400-2420 Bayshore Property

* Case Remanded to Determine Fraudulent Intent
* Chicago District Court Upholds Chapter 13 Lien Stripping

* CFTC Said to Alert Justice Department of Criminal Rate Rigging
* Credit Card Industry Heightens Security Efforts
* S&P Faces Squeeze After $1.3 Billion Countrywide Fine

* Hopkins & Carley Adds Family Wealth, Tax Planning Vets
* Mesch Clark Attorney Appointed as Federal Bankruptcy Judge
* Sedgwick Snaps Up Ex-Lubin Olson Real Estate Pro

* Large Companies With Insolvent Balance Sheet


                             *********


ABERDEEN LAND: Seeks Voluntary Dismissal of Bankruptcy Case
-----------------------------------------------------------
Aberdeen Land II, LLC, asks the U.S. Bankruptcy Court for the
Middle District of Florida to dismiss its Chapter 11 case.

Paul J. Battista, Esq., at Genovese Joblove & Battista, P.A., in
Ft. Lauderdale, Florida -- pbattista@gjb-law.com -- contends that
despite all of the Debtor's good faith efforts over the course of
14 months in Chapter 11, the Debtor has recently reached two
unfortunately, but important, conclusions:

    (i) that it is unable to advance a consensual plan of
        reorganization with the support of its major creditor
        constituencies; and

   (ii) that advancing a non-consensual plan of reorganization at
        this point in the Chapter 11 proceedings is not and will
        not be feasible.

As a result, the Debtor believes that the best course of action
for its creditors and parties in interests taken as a whole is to
dismiss the Chapter 11 case and allow the various creditor
constituencies to proceed in state court to exercise their
respective rights and remedies.

As is evidenced by the substantial time and effort expended by the
Debtor and its professionals over the course of the Chapter 11
case, the Debtor does not come to this conclusion lightly, Mr.
Battista notes.  However, he avers, the circumstances of the
Chapter 11 case, as they have developed and crystallized over the
past 14 months, clearly warrant dismissal over any other
alternative.

The Debtor understands that dismissal of the case will be
supported by the Aberdeen Community Development District, the
Indenture Trustee and D.R. Horton, as the majority bondholder,
each of whom the Debtor anticipates will join in this Motion.

Mr. Battista also asserts that conversion of the case to a case
under Chapter 7 is not in the best interest of creditors or the
estate as a whole because the present value of its property, which
is comprised of vacant undeveloped land, does not exceed the debt
owed to the CDD, especially when statutory penalties are included.
He adds that if the case is converted to Chapter 7, then the CDD
would be entitled to seek and obtain relief from the automatic
stay in order to re-schedule the Foreclosure Sale of the Property
stayed by the bankruptcy filing and, thereby, trump any ability on
the part of a Chapter 7 trustee to liquidate the Property for the
benefit of the senior secured creditors.

A hearing on the Motion to Dismiss is currently scheduled for
October 7, 2014, at 2:30 p.m.

                     About Aberdeen Land II

Aberdeen Land II, LLC, doing business as Aberdeen, owns a 1,316-
acre master- planned community near Jacksonville, Florida.  The
project is designed for 1,623 single-family homes and 395 multi-
family units.  More than 1,000 units have been sold, leaving
Aberdeen with 856 undeveloped lots and 28.1 acres zoned for
commercial or residential use.

Aberdeen filed a Chapter 11 petition (Bankr. M.D. Fla. Case No.
13-04103) on July 1, 2013, in Jacksonville, Florida.  The Debtor
has tapped Genovese Joblove & Battista, P.A., as counsel, Kapila &
Company as accountant, Kellerhals Ferguson Fletcher Kroblin, PLLC,
as special counsel, and Fishkind & Associates as expert
consultants.

Aberdeen owes $24 million in bonds that financed the project and
more than $20 million to secured lenders with mortgages on the
property.

In its amended schedules, the Debtor disclosed $41,165,861 in
assets and $31,189,704 in liabilities as of the petition date.

No creditors' committee was appointed in the case.

The Debtor filed a motion for voluntary dismissal of its Chapter
11 case on September 3, 2014.


ABERDEEN LAND: BBX Calls for Ch. 7 Conversion, No to Dismissal
--------------------------------------------------------------
BBX Capital Asset Management, LLC, asks the U.S. Bankruptcy Court
for the Middle District of Florida to convert Aberdeen Land II,
LLC's Chapter 11 case to a case under Chapter 7 of the Bankruptcy
Code.

Prior to filing the Chapter 11 case, the Debtor solicited BBX's
support of its purported reorganization efforts in the form of a
plan support agreement.  Based on representations made by the
Debtor during those negotiations that the Debtor would be bound by
the terms of the restructured obligations no matter whether this
case was successful or not and would proceed to confirmation of
its plan in an expeditious manner, BBX agreed to accept between
$2.6 million and $4.16 million in satisfaction of its prepetition
secured claim of over $16 million, Michael S. Budwick, Esq., at
Meland Russin & Budwick, P.A., in Miami, Florida --
mbudwick@melandrussin.com -- tells the Court.

Mr. Budwick asserts that the Debtor has abandoned its efforts to
resolve issues with the majority bondholder and other parties, and
to have consensual plan of reorganization.  He notes that the
Debtor seeks dismissal of its case.  The Debtor filed a motion for
voluntary dismissal of its Chapter 11 case on September 3, 2014.

The plan support agreement has been breached, the confirmation
hearing has been canceled and the Debtor now claims that it no
longer has the ability to confirm a plan, Mr. Budwick avers.  He
argues that under the circumstances, the interests of the
bankruptcy estate and the Debtor's creditors would be best served
by converting the Debtor's Chapter 11 case to Chapter 7.

Conversion would permit a trustee acting as an independent
fiduciary to market the property and thereby capture the
substantial equity in the property for the benefit of all
creditors, including BBX, Mr. Budwick contends.  He adds that
conversion of the case and appointment of a trustee will bring
transparency to the process and shed a light on precisely why the
Debtor has suddenly abandoned more than a year's worth of
significant efforts toward reorganization, and who's interests the
Debtor is really trying to protect in doing so.

A hearing on the motion was rescheduled for October 7, 2014.  The
hearing was previously set for September 26.

                     About Aberdeen Land II

Aberdeen Land II, LLC, doing business as Aberdeen, owns a 1,316-
acre master- planned community near Jacksonville, Florida.  The
project is designed for 1,623 single-family homes and 395 multi-
family units.  More than 1,000 units have been sold, leaving
Aberdeen with 856 undeveloped lots and 28.1 acres zoned for
commercial or residential use.

Aberdeen filed a Chapter 11 petition (Bankr. M.D. Fla. Case No.
13-04103) on July 1, 2013, in Jacksonville, Florida.  The Debtor
has tapped Genovese Joblove & Battista, P.A., as counsel, Kapila &
Company as accountant, Kellerhals Ferguson Fletcher Kroblin, PLLC,
as special counsel, and Fishkind & Associates as expert
consultants.

Aberdeen owes $24 million in bonds that financed the project and
more than $20 million to secured lenders with mortgages on the
property.

In its amended schedules, the Debtor disclosed $41,165,861 in
assets and $31,189,704 in liabilities as of the petition date.

No creditors' committee was appointed in the case.


ACCIPITER COMMUNICATIONS: Files Chapter 11 Reorganization Plan
--------------------------------------------------------------
Accipiter Communications, Inc., d/b/a Zona Communications, filed
with the U.S. Bankruptcy Court for the District of Arizona its
Chapter 11 Plan of Reorganization dated August 27, 2014.

The Plan provides that Allowed Administrative Claims and Allowed
Priority Tax Claims will be paid in full in Cash.  Each holder of
an Allowed Class 1-Priority Claim will receive Cash in an amount
equal to its Allowed Priority Claim.  Each holder of an Allowed
Miscellaneous Secured Claim in Class 2 will receive Cash in an
amount equal to its Allowed Claim from the proceeds of the
collateral to which the claim pertains.

The Rural Utilities Service (RUS) Claim under Class 3 is an
Allowed Secured Claim in the amount of $20,755,214.  In full and
final satisfaction of the RUS Claim, Reorganized Accipiter will
issue New RUS Notes payable to RUS.  The New RUS Note A, in the
principal amount of $4 million, bears simple interest at 3.27% per
year, for a term of 240 months.  The New RUS Note B, in the
principal amount of $16,755,215, bears simple interest at 3.27%
per year, for a term of 240 months.

Each holder of an Allowed Class 4-General Unsecured Claim will
receive installment payments of Cash totaling the amount of its
Allowed General Unsecured Claim.  The installment payments will be
made beginning on the first Business Day of each full calendar
month after the Effective Date.

All holders of Equity Interests in the Debtor retain their Equity
Interests, which constitute 100% of the outstanding equity
interests in Reorganized Accipiter.  Holders of Equity Related
Claims neither receive nor retain any rights, property, or
distributions on account of their Equity Related Claims under the
Plan.

                   Implementation of the Plan

Cash payments on and after the Effective Date on account of
Allowed Administrative Claims, Allowed Priority Tax Claims, and
Allowed Priority Claims under the Plan, and any Cure required
under the Plan, are made from the Debtor's Cash.  All Cash not so
reserved vests in Reorganized Accipiter on the Effective Date.
Any Cash remaining on reserve after all Administrative Claims,
Priority Tax Claims, Priority Claims and Cure amounts have been
either Disallowed or Allowed and paid in accordance with the Plan
vests in Reorganized Accipiter.

           Cancellation of Instruments and Agreements

On the Effective Date, all agreements, instruments, and other
documents relating to any Equity Interests, other than the Equity
Interests themselves and the Management Restricted Stock
Agreements, automatically terminate such that all obligations
under all those agreements, instruments, and other documents are
deemed fully and finally waived, released, canceled, extinguished,
and discharged.

                  Post-Confirmation Management,
                  Indemnification and Insurance

The initial board of directors of Reorganized Accipiter as of the
Effective Date will consist of three directors:

   (1) Lewis van Amerongen;
   (2) David Sharbutt; and
   (3) Patrick Sherrill

The initial officers of Reorganized Accipiter are (1) Patrick
Sherrill, President and Chief Executive Officer; and (2) Jenifer
Vellucci, Vice President and Chief Financial Officer.

Reorganized Accipiter must provide its directors and officers with
indemnification rights and a D&O Policy, and must compensate its
directors and officers consistently with compensation provided
before the Chapter 11 Case.  Reorganized Accipiter assumes any
pre-Petition Date indemnification obligations to any directors and
officers employed with the Debtor as of the Petition Date.

                        Vesting of Assets

Except as provided in the Plan or the Confirmation Order, all
property of the Estate vests in Reorganized Accipiter on the
Effective Date free and clear of all Liens and Claims existing
before the Effective Date.  From and after the Effective Date,
Reorganized Accipiter may use and dispose of its property free of
any restrictions of the Bankruptcy Code, including the employment
of, and payment to, Professionals except as otherwise provided in
the Plan or the Confirmation Order.

A copy of the Debtor's Plan of Reorganization is available for
free at http://bankrupt.com/misc/Accipiter_Plan_08272014.pdf

              About Accipiter Communications, Inc.

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.

The Debtor filed its Chapter 11 Plan of Reorganization on
August 27, 2014.


ACCIPITER COMMUNICATIONS: May Use Cash Collateral Until Jan. 2015
-----------------------------------------------------------------
Judge George B. Nielsen of the U.S. Bankruptcy Court for the
District of Arizona signed off on a third stipulated order
authorizing Accipiter Communications, Inc.'s use of cash
collateral.

The stipulation was entered among the Debtor, and the United
States, on behalf of the Rural Utilities Service of the U.S.
Department of Agriculture.

The U.S. Government, through RUS and the Rural TeleTel Bank, made
three sets of loans.  As of the Petition Date, the Debtor was
obligated and indebted to the Prepetition Lender under the
Prepetition Credit Agreements in an aggregate principal amount
totaling $20,755,214, plus, the U.S. Government asserts, unpaid
fees and expenses and accrued interest.

The Debtor would use the cash collateral to construct and operate
a telecommunications network in rural areas located in certain
portions of Maricopa and Yavapai Counties.  The Debtor has
furnished to the Prepetition Lender a budget for weekly cash
receipts and expenditures for the period ending January 9, 2015.

As adequate protection for any diminution in the value of the
collateral, the Debtor will grant the prepetition lender adequate
protection payment, replacement lien, subject to carve out on
certain expenses.

A continued hearing on the Debtor's use of Cash Collateral is set
for October 15, 2014, at 9:30 a.m.

              About Accipiter Communications, Inc.

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.

The Debtor filed its Chapter 11 Plan of Reorganization on
August 27, 2014.


AGFEED INDUSTRIES: Files Revised 2nd Amended Plan
-------------------------------------------------
AgFeed USA, LLC, et al., filed with the U.S. Bankruptcy Court for
the District of Delaware a revised second amended Chapter 11 plan
of liquidation and accompanying disclosure statement and supported
by the Official Committee of Equity Security Holders.

The Plan provides for substantive consolidation of the
Consolidated AgFeed USA Debtors and the liquidation of the
Debtors' assets.  The majority of the Debtors' assets have been
liquidated, and the Plan provides for the estates' assets to be
allocated and distributed to holders of allowed claims and
interests.

The Plan incorporates two settlement agreements between the
Debtors, the Plan Supporter, the U.S. Securities and Exchange
Commission, and the Class Plaintiffs, that together resolves the
claims filed by the SEC and the Class Plaintiffs.  The Plan
provides that, on the effective date of the Plan, the SEC will
have an allowed claim in the amount of $18 million.  The Class
Plaintiffs will receive an allowed claim in the amount of
$7 million.

Holders of General Unsecured Claims, estimated to total
$3,764,429, will recover 100% of their allowed claims.  Holders of
secured claims, estimated to total $1,456, and holders of priority
non-tax claims, estimated to total $832, will also recover 100% of
their allowed claims.

A full-text copy of the Revised Second Amended Disclosure
Statement dated Sept. 12, 2014, is available at:

             http://bankrupt.com/misc/AGFEEDds0912.PDF

The current version of the Plan was filed by Robert S. Brady,
Esq., Donald J. Bowman, Jr., Esq., Ian J. Bambrick, Esq., and
Ashley E. Markow, Esq., at Young Conway Stargatt & Taylor, LLP, in
Wilmington, Delaware.

                      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.


AK STEEL: To Sell $430 Million Notes Due 2021
---------------------------------------------
AK Steel Corporation is offering $430,000,000 in principal amount
of 7.625% Senior Notes due 2021.  The notes will bear interest at
a rate of 7.625% per year, payable semi-annually in arrears on
April 1 and October 1 of each year, beginning on April 1, 2015.
The notes will mature on Oct. 1, 2021, and will be fully and
unconditionally guaranteed by the direct parent of AK Steel, AK
Steel Holding Corporation, and AK Tube LLC and AK Steel
Properties, Inc., two wholly owned subsidiaries of AK Steel.

Prior to Oct. 1, 2017, the notes will be redeemable at a price
equal to 100% plus a make-whole premium, plus accrued and unpaid
interest.  The notes will be redeemable on or after Oct. 1, 2017,
at the redemption prices specified under "Description of Notes--
Optional Redemption", plus accrued and unpaid interest.  In
addition, the Company may redeem up to 35% of the notes before
Oct. 1, 2017, with the net cash proceeds of certain public
offerings of AK Holding's common stock at a redemption price of
107.625% plus accrued and unpaid interest.  If AK Steel
experiences certain kinds of changes of control, it must offer to
purchase the notes.

If a change of control repurchase event occurs, subject to certain
conditions, AK Steel must give holders of the notes an opportunity
to sell to AK Steel the notes at a purchase price of 101% of the
principal amount of the notes, plus accrued and unpaid interest to
the date of the purchase.

The notes will be AK Steel's senior unsecured obligations and will
rank senior in right of payment to any of its indebtedness that is
expressly subordinated in right of payment to the notes; equal in
right of payment to any of its indebtedness that is not so
subordinated; effectively junior in right of payment to any of its
secured indebtedness to the extent of the value of the assets
securing such indebtedness; and structurally junior to all
indebtedness and other liabilities (including trade payables) of
its subsidiaries that do not guarantee the notes.

The Company does not intend to apply to list the notes on any
securities exchange or any automated dealer quotation system.

Concurrently with this offering, AK Holding is offering 35,000,000
of its common stock, a portion of the net proceeds of which will
be used, along with the net proceeds of this offering, to finance
the Dearborn Acquisition.  Closing of the common stock offering is
not conditioned on the closing of this offering.  However, closing
of this offering is conditioned on the closing of the common stock
offering and the concurrent closing of the Dearborn Acquisition.

The Company intends to use the net proceeds from this offering,
together with a portion of the net proceeds from AK Holding's
concurrent common stock offering, to finance AK Steel's
acquisition of Severstal Dearborn, LLC.

Joint Book-Running Managers:

         Credit Suisse Securities (USA) LLC
         Citigroup Global Markets Inc.
         J.P. Morgan Securities LLC

Co-Managers:

         Merrill Lynch, Pierce, Fenner & Smith Incorporated
         Fifth Third Securities, Inc.
         Goldman, Sachs & Co.

A copy of the FWP is available for free at http://is.gd/4a6BDC

                        http://is.gd/4a6BDC

                          About AK Steel

AK Steel Corporation is an integrated producer of flat-rolled
carbon, stainless and electrical steels and tubular products, with
nine steelmaking and finishing plants and tubular production
facilities located in Indiana, Kentucky, Ohio and Pennsylvania.
The Company produces flat-rolled value-added carbon steels,
including premium-quality coated, cold-rolled and hot-rolled
carbon steel products, specialty stainless and electrical steels
that are sold in sheet and strip form and carbon and stainless
flat-rolled steel that are finished into welded steel tubing.
Upon the closing of the Company's acquisition of Severstal
Dearborn, LLC, and its related assets, the Company will add an
integrated steelmaking facility located in Dearborn, Michigan, as
well as a cokemaking facility in West Virginia and interests in
three joint ventures that process and finish flat-rolled steel
products.

                            *    *     *

AK Steel carries a B3 corporate family rating (CFR) from Moody's
Investors Service.

As reported by the TCR on July 29, 2014, Standard & Poor's Ratings
Services said it placed its ratings, including its 'B' corporate
credit rating, on West Chester, Ohio-based AK Steel Corp. and AK
Steel Holding Corp. on CreditWatch with negative implications.


ALICEVILLE GOVERNMENTAL: S&P Revises CreditWatch on 'CCC' Rating
----------------------------------------------------------------
Standard & Poor's Ratings Services has revised its CreditWatch on
the 'CCC' rating on Aliceville Governmental Utilities Services
Corp. (GUSC), Ala.'s series 2011 bonds to negative implications
from developing implications.  S&P now believes that upward
movement of the rating within the next three months has been
removed by the disclosure that another draw on the debt service
reserve fund (DSRF) was made to complete the Aug. 1, 2014 payment
to bondholders.  Standard & Poor's believes that this indicates
the lack of resolution to the rate dispute between the U.S.
Federal Bureau of Prisons (FBOP) -- for which the corporation
issued the bonds to fund the construction of water and sewer
facilities for prisons -- and the GUSC.

The GUSC has approximately $8.375 million in outstanding revenue
bonds related to the FBOP project.  Following the disclosed draw
of $835,079.24 from the DSRF, "the reserve fund has by our
calculation been nearly exhausted and would be insufficient by
itself to meet the Feb. 1, 2015 interest payment absent sufficient
ongoing revenues, likely creating a default," said credit analyst
Ted Chapman.


ALTEGRITY INC: Moody's Lowers Corporate Family Rating to Caa3
-------------------------------------------------------------
Moody's Investors Service downgraded Altegrity, Inc.'s corporate
family rating (CFR) to Caa3, from Caa2, its probability of default
rating to Caa3-PD, from Caa2-PD, and changed the outlook for
Altegrity's ratings to negative, from stable.

Ratings Rationale

Moody's downgraded Altegrity's ratings to reflect the company's
elevated risk of default and its increasing challenges in turning
around operating performance as a result of the loss of revenues
from two background investigation services related contracts with
the Office of Personnel Management (OPM). OPM announced that it
will not renew its existing contracts with USIS Investigations
Services, LLC (USIS), a subsidiary of Altegrity. Moody's believes
that the loss of earnings will strain Altegrity's already weak
liquidity and that the company does not have sufficient liquidity
to fund debt service costs and maturities in its fiscal year 2016.
The company will likely incur transition costs and restructuring
in the near term as a result of OPM's decision, and its diminished
scale will erode EBITDA margins. Moody's now expects the company's
free cash flow deficits over the next 12 to 24 months to increase
relative to its previous expectations.

The negative outlook reflects Altegrity's weak and deteriorating
liquidity.

Moody's has taken the following rating actions:

Downgrades:

Issuer: Altegrity, Inc.

  Corporate Family Rating , Downgraded to Caa3 from Caa2

  Probability of Default Rating, Downgraded to Caa3-PD from
  Caa2-PD

  $60 million 1st lien revolving credit facility due 2019,
  Downgraded to Caa1 (LGD 2), from B3 (LGD 2)

  $275 million 1st lien term loan due 2019, Downgraded to Caa1
  (LGD 2), from B3 (LGD 2)

  $825 million 9.5% senior 1st lien notes due 2019, Downgraded to
  Caa1 (LGD 2), from B3 (LGD 2)

  $280 million 10.5% senior 2nd lien notes due 2020, Downgraded
  to Ca (LGD 5), from Caa3 (LGD 5)

  $200 million 12% senior 2nd lien notes due 2020, Downgraded to
  Ca (LGD 5), from Caa3 (LGD 5)

Affirmations:

Issuer: Altegrity, Inc.

  $60.7 million 15% senior 3rd lien notes due 2021, Affirmed Ca
  (LGD 5)

  $10.9 million 10.5% senior notes due November 2015, Affirmed Ca
  (LGD 6)

  $11.25 million 12% senior notes due November 2015, Affirmed Ca
  (LGD 6)

  $29.2 million 11.75% senior subordinated notes due May 2016,
  Affirmed Ca (LGD 6)

Outlook Actions:

Issuer: Altegrity, Inc.

Outlook, Changed To Negative From Stable

Moody's could downgrade Altegrity's ratings if liquidity,
profitability and cash flow generation continue to weaken as debt
maturities draw nearer. The ratings could be upgraded if liquidity
and earnings improve resulting in a lower probability of default
or improved debt recovery prospects.

Altegrity provides background investigations for the U.S.
government; employment background and mortgage screening for
commercial customers; technology-driven legal services and
software for data management; and investigative, analytic,
consulting, due diligence, and security services. Altegrity is
principally owned by investment funds affiliated with Providence
Equity Partners.

The principal methodology used in this rating was Global Business
& Consumer Service Industry Rating Methodology published in
October 2010. Other methodologies used include Loss Given Default
for Speculative-Grade Non-Financial Companies in the U.S., Canada
and EMEA published in June 2009.


AMERICAN APPAREL: Amends Loan Agreement with Standard General
-------------------------------------------------------------
American Apparel, Inc., and certain of its domestic subsidiaries
entered into an amendment to the loan agreement with Standard
General Master Fund L.P. to lower the applicable interest rate to
17.00%, extend the maturity date to April 15, 2021, and to make
certain other technical amendments, including to remove a
provision that specified that Dov Charney ceasing to be the chief
executive officer of the Company would constitute an event of
default.

                      About American Apparel

Los Angeles, Calif.-based American Apparel, Inc. (NYSE Amex: APP)
-- http://www.americanapparel.com/-- is a vertically integrated
manufacturer, distributor, and retailer of branded fashion basic
apparel.  As of September 2010, American Apparel employed over
10,000 people and operated 278 retail stores in 20 countries,
including the United States, Canada, Mexico, Brazil, United
Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, the
Netherlands, Spain, Sweden, Switzerland, Israel, Australia, Japan,
South Korea and China.

Amid liquidity problems and declining sales, American Apparel in
early 2011 reportedly tapped law firm Skadden, Arps, Slate,
Meagher & Flom and investment bank Rothschild Inc. for advice on a
restructuring.

In April 2011, American Apparel said it raised $14.9 million in
rescue financing from a group of investors led by Canadian
financier Michael Serruya and private equity firm Delavaco Capital
Corp., allowing the casual clothing retailer to meet obligations
to its lenders for the time being.  Under the deal, the investors
were buying 15.8 million shares of common stock at 90 cents
apiece.  The deal allows the investors to purchase additional
27.4 million shares at the same price.

American Apparel has been in the red as far back as 2010.  The
Company reported a net loss of $106.29 million on $633.94 million
of net sales for the year ended Dec. 31, 2013, as compared with a
net loss of $37.27 million on $617.31 million of net sales for the
year ended Dec. 31, 2012.  American Apparel posted a net loss of
$39.31 million on $547.33 million of net sales for the year ended
Dec. 31, 2011, compared with a net loss of $86.31 million on
$532.98 million of net sales during 2010.  In 2011, American
Apparel announced a restatement of its 2009 financial reports.

The Company's balance sheet at June 30, 2014, showed $314.36
million in total assets, $381.96 million in total liabilities and
a $67.60 million total stockholders' deficit.

                           *     *     *

The TCR reported on Nov. 21, 2013, that Moody's Investors Service
downgraded American Apparel Inc.'s corporate family rating to
Caa2.  The clothing retailer's probability of default was also
lowered one level and the outlook is negative.

As reported by the TCR on Sept. 2, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating on Los Angeles-based
American Apparel Inc. to 'CCC-' from 'CCC'.  The outlook is
negative.

"The downgrade reflects our assessment that a debt restructuring
appears inevitable within six months, absent unanticipated
significantly favorable changes in the company's circumstances,"
said Standard & Poor's credit analyst Ryan Ghose.


AMINCOR INC: Marcum Replaces Rosen Seymour as Accountants
---------------------------------------------------------
Amincor, Inc., dismissed Rosen Seymour Shapss Martin & Company LLP
as its independent registered public accounting firm on Sept. 8,
2014, according to a regulatory filing with the U.S. Securities
and Exchange Commission.  The Company engaged Marcum LLP as its
new accountants.  The Company said it had no disagreements with
Rosen Seymour.

Rosen Seymour audited the Company's financial statements for the
years ended Dec. 31, 2013, and 2012.  The dismissal of Rosen
Seymour was approved by the Company's Board of Directors on
Sept. 5, 2014. Rosen Seymour did not resign or decline to stand
for re-election.

The report of Rosen Seymour dated April 15, 2014, on the Company's
balance sheets as of Dec. 31, 2013, and 2012 and the related
statements of operations, stockholders' (deficit) equity and cash
flows for each of the years in the three year period ended
Dec. 31, 2013, did not contain an adverse opinion or a disclaimer
of opinion, nor was such report qualified or modified as to
uncertainty, audit scope, or accounting principles, except such
report contained an explanatory paragraph indicating that there is
substantial doubt about the Company's ability to continue as a
going concern.

The Company related that during the Company's two most recent
fiscal years and the subsequent interim period prior to retaining
Marcum LLP, neither the Company nor anyone on its behalf consulted
Marcum LLP.

                         About Amincor Inc.

New York, N.Y.-based Amincor, Inc., is a holding company
operating through its operating subsidiaries Baker's Pride, Inc.,
Environmental Holdings Corp. and Tyree Holdings Corp., and Amincor
Other Assets, Inc.

BPI is a producer of bakery goods.  Tyree performs maintenance,
repair and construction services to customers with underground
petroleum storage tanks and petroleum product dispensing
equipment.

Through its wholly owned subsidiaries, Environmental Quality
Services, Inc., and Advanced Waste & Water Technology, Inc., EHC
provides environmental and hazardous waste testing and water
remediation services in the Northeastern United States.

Other Assets, Inc., was incorporated to hold real estate,
equipment and loan receivables.  As of March 31, 2013, all of
Other Assets' real estate and equipment are classified as held for
sale.

The Company's balance sheet at June 30, 2014, showed $25.79
million in total assets, $44.36 million in total liabilities and a
$18.56 million total deficit.

                          Bankruptcy Warning

"Amincor's Management is working to secure additional available
capital resources and turn around the subsidiary companies to
generate operating income.  Amincor may raise additional funds
through public or private debt or equity financings.  However,
there can be no assurance that such resources will be sufficient
to fund the operations of Amincor or the long-term growth of the
subsidiaries businesses.  Amincor cannot assure investors that any
additional financing will be available on favorable terms, or at
all.  Without additional capital resources, Amincor may not be
able to continue to operate, take advantage of unanticipated
opportunities, develop new products or otherwise respond to
competitive pressures, and be forced to curtail its business,
liquidate assets and/or file for bankruptcy protection," the
Company stated in its quarterly report for the period ended
June 30, 2014.


AMSTERDAM HOUSE: Hires Cadwalader Wickersham as Attorneys
---------------------------------------------------------
Amsterdam House Continuing Care Retirement Community, Inc. dba The
Amsterdam at Harborside asks permission from the U.S. Bankruptcy
Court for the Eastern District of New York to employ Cadwalader,
Wickersham & Taft LLP as attorneys, nunc pro tunc to the July 22,
2014 petition date.

The Debtor anticipates that, in this chapter 11 case, Cadwalader
Wickersham will render general legal services as needed,
including, without limitation, in the areas of bankruptcy and
restructuring, corporate, litigation, healthcare, employee
benefits, finance, and tax law.  The professional services that
Cadwalader Wickersham will render to the Debtor may include,
without limitation, the following:

   (a) advising the Debtor of its rights, powers, and duties as a
       debtor and debtor in possession in the continued management
       of its business and property;

   (b) preparing on behalf of the Debtor all necessary and
       appropriate applications, motions, draft orders, pleadings,
       notices, schedules, and other documents, and reviewing all
       financial and other reports to be filed in the Debtor's
       chapter 11 case;

   (c) advising and assisting the Debtor in connection with the
       preparation, solicitation, and confirmation of the Debtor's
       proposed "Plan of Reorganization Under Chapter 11 of the
       Bankruptcy Code", which was filed concurrently with the
       commencement of this chapter 11 case;

   (d) advising the Debtor concerning, and preparing responses to,
       applications, motions, pleadings, notices, and other
       documents that may be filed and served in the Debtor's
       chapter 11 case;

   (e) advising the Debtor concerning actions it might take to
       collect and recover property for the benefit of its estate;

   (f) commencing and conducting any and all litigation necessary
       or appropriate to assert rights held by the Debtor or
       protect assets of its estate;

   (g) advising the Debtor concerning executory contracts and
       unexpired lease assumptions, assignments, and rejections;

   (h) assisting the Debtor in reviewing, estimating, and
       resolving claims asserted against its estate; and

   (i) performing all other necessary legal services in connection
       with the Debtor's chapter 11 case and other general
       corporate matters concerning the Debtor's business,
       including providing advice and representation relating to
       healthcare regulatory issues.

Cadwalader Wickersham will be paid at these hourly rates:

       Partners                $900-$1,200
       Special Counsel         $450-$1,100
       Legal Assistants        $195-$295

Cadwalader Wickersham will also be reimbursed for reasonable out-
of-pocket expenses incurred.

For the period July 12, 2014 to the Petition Date, Cadwalader
Wickersham held a retainer from the Debtor for its professional
services in the amount of $90,000, which has been applied to fees
accrued for this period.  Further, from September 2012 to the
Petition Date, Cadwalader Wickersham has received compensation
from the Debtor in the amount of $1,953,004.79 for its prepetition
services rendered and expenses incurred in connection with its
restructuring engagement by the Debtor, which includes application
of the courtesy discount and additional reductions.  In addition,
from December 2011 through July 2014, Cadwalader Wickersham
received compensation from the Debtor in the amount of $259,141.53
with respect to its prepetition services rendered and expenses
incurred unrelated to its restructuring engagement by the Debtor,
which also includes the application of significant discounts.

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

Cadwalader Wickersham can be reached at:

       Ingrid Bagby, Esq.
       CADWALADER, WICKERSHAM & TAFT LLP
       One World Financial Center
       New York, NY 10281
       Tel: (212) 504-6894
       E-mail: ingrid.bagby@cwt.com

                      About Amsterdam House

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

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

The case is assigned to Judge Alan S Trust.

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

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

The Sec. 341(a) meeting of creditors was scheduled for Aug. 29.

The Company's Amended Plan of Reorganization and accompanying
Disclosure Statement was filed on Sept. 2, 2014.


AMSTERDAM HOUSE: Taps Dennett Law as Special Financing Counsel
--------------------------------------------------------------
Amsterdam House Continuing Care Retirement Community, Inc. dba The
Amsterdam at Harborside, seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of New York to employ
Dennett Law Offices, P.C. as special financing counsel, nunc pro
tunc to the July 22, 2014 petition date.

The Debtor anticipates that Dennett Law will render specialized
legal services in the areas of public finance, the Debtor's debt
structure, and the Debtor's bond financing. Dennett Law will serve
as counsel to the Debtor in connection with the exchange of
outstanding bonds issued by the Nassau County Industrial
Development Agency ("NCIDA") for new bonds to be issued by the
NCIDA.

In connection with that transaction Dennett Law's services will
include:

   (a) counseling the Debtor on corporate, tax, and regulatory
       issues;

   (b) preparing, reviewing and negotiating all documents for
       the exchange of existing bonds and issuance of new bonds;

   (c) rendering of legal opinions required by the NCIDA; and

   (d) attending such meetings and closings as may be required to
       complete the restructuring.

Dennett Law will be paid at these hourly rates:

       Attorneys             $400.50
       Paralegal             $50

Dennett Law will also be reimbursed for reasonable out-of-pocket
expenses incurred.

As of the petition date, Dennett Law has received compensation
from the Debtor in the amount of $51,424, and has an invoice in
the amount of $4,405.50 currently outstanding, for its prepetition
services rendered and expenses incurred in connection with the
exchange of existing bonds and issuance of new bonds for the
Debtor.

Richard A. Dennett, shareholder of Dennett Law, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.

Dennett Law can be reached at:

       Richard A. Dennett, Esq.
       DENNETT LAW OFFICES, P.C.
       185 Great Neck Road
       Great Neck, NY 11021
       Tel: (516) 504-1400
       Fax: (516) 214-8095

                      About Amsterdam House

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

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

The case is assigned to Judge Alan S Trust.

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

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

The Sec. 341(a) meeting of creditors was scheduled for Aug. 29.

The Company's Amended Plan of Reorganization and accompanying
Disclosure Statement was filed on Sept. 2, 2014.


AMSTERDAM HOUSE: Hires Grant Thornton as Financial Advisors
-----------------------------------------------------------
Amsterdam House Continuing Care Retirement Community, Inc. dba The
Amsterdam at Harborside seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of New York to employ
Grant Thornton LLP as financial advisors, nunc pro tunc to the
July 22, 2014 petition date.

The Debtor requires Grant Thornton to:

   (a) assist with contingency planning in connection with a
       potential chapter 11 filing under the Bankruptcy Code;

   (b) assist management with its communications with residents,
       customers, suppliers, statutory committees, and other
       parties in interest;

   (c) consult with management, in coordination with legal
       counsel, in the preparation of a disclosure statement, plan
       of reorganization, and the underlying business plans from
       which those documents are developed;

   (d) assist management, in coordination with legal counsel, in
       evaluating competing disclosure statements, plans, and
       other strategic proposals made by any committee of
       unsecured creditors or other interested parties in the
       chapter 11 case;

   (e) assist management in responding to information requests
       submitted by statutory committees and their legal and
       financial counsel;

   (f) assist management with its vendor management program;

   (g) consult with management regarding the preparation of
       required financial statements, schedules of financial
       affairs, monthly operating reports, and any other financial
       disclosures required by the Court;

   (h) provide expert advice and testimony regarding financial
       matters related to, including, among other things, the
       feasibility of any proposed plan of reorganization and the
       valuation of any securities issued in connection with any
       such plan; and

   (i) provide additional services as requested from time to time
       by the Debtor and agreed to by Grant Thornton.

Grant Thornton will be paid at these hourly rates:

       Partners/Principals           $635-$695
       Directors/Senior Managers     $525-$610
       Managers                      $410-$465
       Senior Associates             $290-$360
       Associates                    $270

Grant Thornton will also be reimbursed for reasonable out-of-
pocket expenses incurred.

Pursuant to the Engagement Agreement, Grant Thornton received
three retainers totaling $125,000 for prepetition services
provided to the Debtor.  All fees and expenses accrued prior to
the Petition Date and pursuant to the terms of the Engagement
Agreement have been calculated, and Grant Thornton received
payment on account of its prepetition services in the amount of
$422,693.99.  An amount of $103,796.96 was deducted from the
Retainers in order to pay a portion of the prepetition fees and
expenses to Grant Thornton, with the remainder of the Retainers
being $21,203.04, which will be applied upon approval of the first
interim fee application.

Paul Melville, principal of Grant Thornton, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Grant Thornton can be reached at:

       Paul Melville
       GRANT THORNTON LLP
       175 W. Jackson Blvd., 20th Floor
       Chicago, IL 60604-2687
       Tel: +1 (312) 856-0200

                      About Amsterdam House

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

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

The case is assigned to Judge Alan S Trust.

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

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

The Sec. 341(a) meeting of creditors was scheduled for Aug. 29.

The Company's Amended Plan of Reorganization and accompanying
Disclosure Statement was filed on Sept. 2, 2014.


ANACOR PHARMACEUTICALS: Appoints Wendell Wierenga to Board
----------------------------------------------------------
Anacor Pharmaceuticals, Inc.'s Board of Directors has appointed
Wendell Wierenga, Ph.D., to serve as Class III director until the
Company's 2016 annual meeting of shareholders.

On Sept. 11, 2014, Paul H. Klingenstein notified the Board of
Directors of Anacor of his resignation from the Board effective
immediately.  Mr. Klingenstein's decision to resign from the Board
was not the result of any disagreement between the Company and Mr.
Klingenstein on any matter relating to the Company's operations,
policies or practices.

"The other members of the Board and I thank Paul for the many
contributions he has made to the Company since joining the Board
in 2002, and wish him well in his future endeavors," said Paul
Berns, Anacor's chairman and chief executive officer.  "At the
same time, we are pleased to welcome Wendell as a new independent
director.  Wendell is a highly respected pharmaceutical executive
with broad managerial, board and strategic leadership experience
and an extensive background in research and drug development.  We
look forward to working with Wendell and benefiting from his
expertise."

Dr. Wierenga is a seasoned pharmaceutical executive with broad
experience in all aspects of research, drug discovery and drug
development.  From June 2011 until February 2014, Dr. Wierenga
served as executive vice president, Research and Development of
Santarus, Inc., a public biopharmaceutical company that was
acquired by Salix Pharmaceuticals, Ltd. in January 2014.  From
2007 until May 2011, he served as executive vice president,
Research and Development of Ambit Biosciences Corporation.

"I am very pleased to become a member of the Anacor Board," said
Wendell Wierenga.  "Anacor recently achieved a significant
milestone with FDA's approval of KERYDINTM and I look forward to
contributing to the continued success of the company."

Pursuant to the Company's Independent Director Compensation
Policy, Dr. Wierenga will receive a $40,000 annual cash retainer.
On Sept. 11, 2014, the Board also granted Dr. Wierenga an initial
option to purchase 27,000 shares of the Company's common stock
under the Company's 2010 Equity Incentive Plan with an exercise
price equal to $25.48, the per share closing price of the Common
Stock on the NASDAQ Global Market on the date of grant.

Meanwhile, the Board appointed Keith R. Leonard, Jr., to serve as
a member of the Audit Committee of the Board effective
Sept. 11, 2014.

                   About Anacor Pharmaceuticals

Palo Alto, Calif.-based Anacor Pharmaceuticals (NASDAQ: ANAC) is a
biopharmaceutical company focused on discovering, developing and
commercializing novel small-molecule therapeutics derived from its
boron chemistry platform.  Anacor has discovered eight compounds
that are currently in development.  Its two lead product
candidates are topically administered dermatologic compounds -
tavaborole, an antifungal for the treatment of onychomycosis, and
AN2728, an anti-inflammatory PDE-4 inhibitor for the treatment of
atopic dermatitis and psoriasis.

Anacor reported net income of $84.76 million in 2013, a net loss
of $56.08 million in 2012 and a net loss of $47.94 million in
2011.  The Company's balance sheet at June 30, 2014, showed
$137.63 million in total assets, $48.02 million in total
liabilities, $4.95 million in redeemable common stock and $84.65
million in total stockholders' equity.


ARAMID ENTERTAINMENT: Sues Thinkfilm Trustee to Enforce Stay
------------------------------------------------------------
Aramid Entertainment Fund Limited, Aramid Liquidating Trust Ltd.
and Aramid Entertainment, Inc., filed an adversary proceeding to
enforce the automatic stay under Section 362 of the Bankruptcy
Code to halt threatened action against their property.

Jordan W. Siev, Esq., at Reed Smith LLP, in New York, relates that
the adversary proceeding stems from threatened actions by the
Chapter 11 trustee presiding over several bankruptcies, including
Thinkfilm, LLC, pending before the United States Bankruptcy Court
for the Central District of California, Los Angeles Division.  Mr.
Siev points out that the actions will attempt to exercise control
over highly valuable property of Aramid's estates in violation of
the automatic stay, undo months of negotiations that is critical
to prospects for a successful reorganization, disrupting the
orderly administration of the estates.

The Aramid entities have entered into an omnibus settlement
agreement to resolve a multitude of vexatious and lawsuits
involving dozens of parties in different state and federal courts.
Mr. Siev asserts that these litigations have been hotly contested
matters, involving scorched earth litigation tactics which have
been a tremendous drain on the estates. The settlement agreement
is currently pending Bankruptcy Court approval.

Some litigation are currently being pursued on a derivative basis
by a control party of Aramid's former investment adviser, Screen
Capital International Corp. Screen Capital obtained the ability to
prosecute and control the litigations by virtue of a settlement
agreement involving the very same parties that are the subjects of
the adversary proceeding. Aramid had advanced millions of dollars
in costs and expenses for those litigations.

The settlement agreement will achieve dismissal or resolution of
those litigations. Mr. Siev notes that shortly after seeking Court
approval of the settlement agreement, counsel for the Thinkfilm
trustee notified his intention to file an application in the
California District Court to regain standing to control and pursue
the litigations, which will render the settlement agreement
unenforceable.

Accordingly, to protect valuable property of the estates from
unlawful seizure by the Thinkfilm trustee, the Aramid entities ask
the Court to enforce the automatic stay with respect to the
prospective application by the Thinkfilm trustee.

In the alternative, the Aramid entities ask the Court, pursuant to
Rule 65 of the Federal Rules of Civil Procedure and Section 105(a)
of the Bankruptcy Code, made applicable by Rule 7065 of the
Federal Rules of Bankruptcy Procedure, to temporarily restrain the
Thinkfilm trustee from making the application or taking any action
to exercise control over property of the estates until some action
is taken to settle or dismiss the litigations.

Aramid is represented by:

     Jordan W. Siev, Esq.
     James C. McCarroll, Esq.
     Richard A. Robinson, Esq.
     Michael J. Venditto, Esq.
     REED SMITH LLP
     599 Lexington Avenue
     New York, NY 10022-7650
     Telephone: (212) 521-5400
     Facsimile: (212) 521-5450
     Email: jsiev@reedsmith.com
            jmccarroll@reedsmith.com
            rrobinson@reedsmith.com
            mvenditto@reedsmith.com

                    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 liabilities.


ARAMID ENTERTAINMENT: Asks Court to Extend Removal Deadline
-----------------------------------------------------------
Aramid Entertainment Fund Limited, Aramid Liquidating Trust Ltd.
and Aramid Entertainment, Inc., ask the Bankruptcy Court for more
time to file notices of removal of civil actions and proceedings
in state and federal courts until the effective date of a Chapter
11 plan.

The Aramid entities have entered into an omnibus settlement
agreement to resolve a multitude of vexatious and lawsuits
involving dozens of parties in different state and federal courts.
Court approval of this settlement agreement is set for hearing on
September 23, 2014.

James C. McCarroll, Esq., at Reed Smith LLP, in New York, asserts
that the extension is necessary in light of the pending settlement
agreement approval. Mr. McCarroll adds that the extension
requested will provide additional time for them to decide upon
removal of civil actions, if necessary.

                    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 liabilities.


ASARCO LLC: Supreme Court May Rule on Award to Defend Fees
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the successful reorganization of Asarco LLC, whose
creditors were paid in full, presents the U.S. Supreme Court with
an opportunity to rule on an issue dear to all bankruptcy lawyers:
Can a bankruptcy court award compensation for successfully
defending fee requests?

According to Mr. Rochelle, the justices may decide by early
October whether they will take the appeal from an April decision
of the U.S. Court of Appeals in New Orleans who said bankruptcy
lawyers can never be paid for defending their fee requests unless
opposition was mounted in bad faith.

The case in the Supreme Court is Baker Botts LLP v. Asarco LLC,
14-103, U.S. Supreme Court (Washington).

                      About Asarco LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection (Bankr. S.D. Tex. Case
No. 05-21207) on Aug. 9, 2005.  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On Dec. 9, 2009, Asarco Incorporated and Americas Mining
Corporation's Seventh Amended Plan of Reorganization for the
Debtors became effective and the ASARCO Asbestos Personal Injury
Settlement Trust was created and funded with nearly $1 billion in
assets, including more than $650 million in cash plus a $280
million secured note from Reorganized ASARCO.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
ASARCO LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.


ASCENT SOLAR: Regains Nasdaq Listing Compliance
-----------------------------------------------
Ascent Solar Technologies, Inc., on Sept. 12 disclosed that it has
received notification from the Listing Qualifications Department
of The Nasdaq Stock Market that it has regained compliance with
Nasdaq Listing Rule 5550(a)(2), the minimum bid price requirement
for continued listing on The Nasdaq Capital Market.

Ascent had been notified by Nasdaq in September 2013 that its
common stock did not satisfy the minimum bid price requirement.
On September 11, 2014, Nasdaq provided confirmation to Ascent that
the closing bid price of its common stock for the prior 10
business days had met the minimum bid price requirement and
advised Ascent that this matter is now closed.

                About Ascent Solar Technologies, Inc.

Ascent Solar Technologies, Inc. (NASDAQ: ASTI) --
http://www.ascentsolar.com-- is a developer of thin-film
photovoltaic modules with substrate materials that are more
flexible, versatile and rugged than traditional solar panels.
Ascent Solar modules can be directly integrated into consumer
products and off-grid applications, as well as aerospace and
building integrated applications.  Ascent Solar is headquartered
in Thornton, Colorado.


ASPEN GROUP: Global Undervalued Holds 6.5% Equity Stake
-------------------------------------------------------
In a regulatory filing with the U.S. Securities and Exchange
Commission, Global Undervalued Securities Master Fund, L.P.,
Kleinheinz Capital Partners, Inc., John Kleinheinz disclosed that
as of Sept. 4, 2014, they beneficially owned 7,435,312 shares of
common stock of Aspen Group, Inc., representing 6.5 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/2e6Wof

                       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.

Aspen Group incurred a net loss of $5.35 million for the year
ended April 30, 2014.  The Company also reported a net loss of
$1.40 million for the four months ended April 30, 2013.

The Company reported a net loss of $6 million in 2012 as compared
with a net loss of $2.13 million in 2011.

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.

ASSOCIATED WHOLESALERS: Has Interim Authority to Tap DIP Loans
--------------------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware gave Associated Wholesalers Inc., AWI Delaware, Inc.,
and their debtor affiliates interim authority to tap a portion of
the debtor-in-possession financing package Bank of America, N.A.,
as agent for a consortium of lenders, and the proposed buyer of
the Debtors' assets is extending to the Debtors.

As reported by The Troubled Company Reporter, the Bank Lenders
agreed to provide secured revolving loans, with a maximum
available amount of (a) $152,110,000, plus (b) the amount of the
letter of credit obligations outstanding as of the Petition Date.
C&S Wholesale Grocers, Inc., the proposed buyer of the Debtors'
assets, agreed to provide a secured revolving loan of up to
$18 million.

The Debtors also obtained interim authority to use cash collateral
securing their prepetition indebtedness.  Bill Rochelle and Sherri
Toub, bankruptcy columnists for Bloomberg News, reported that
secured bank debt, with Bank of America NA as agent, totals $131.9
million, while unsecured debt owing to trade suppliers is $72
million.

The DIP Motion is set for a final hearing on Oct. 3, 2014, at
10:00 a.m., with an objection deadline of Sept. 26.

                   About Associated Wholesalers

Founded in 1962 and headquartered in Robesonia, Pennsylvania,
Associated Wholesalers Inc. services 800 supermarkets, specialty
stores, convenience stores and superettes with grocery, meat,
produce, dairy, frozen foods and general merchandise/health and
beauty care products.  AWI, which owns distribution facilities in
Robesonia, Pennsylvania, and York, Pennsylvania, serves the mid-
Atlantic United States.  AWI is owned by its 500 retail members,
who in turn operate supermarkets.  AWI has 1,459 employees.

White Rose Inc. is a food wholesaler and distributor serving the
greater New York metropolitan area.  The company traces its
origins to 1886, when brothers Joseph and Sigel Seeman founded
Seeman Brothers & Doremus to provide grocery deliveries throughout
New York City.  White Rose carries out its operations through
three leased warehouse and distribution centers, two of which are
located in Carteret, New Jersey, and one in Woodbridge, New
Jersey.  White Rose has 777 employees.

Associated Wholesalers and its affiliates on Sept. 9, 2014, sought
Chapter 11 protection to sell their assets under 11 U.S.C. Sec.
363 to C&S Wholesale Grocers, absent higher and better offers.

The Debtors have sought joint administration of their Chapter 11
cases for procedural purposes, seeking to maintain all pleadings
on the case docket for AWI Delaware, Inc., Bankr. D. Del. Case No.
14-12092.

As of the Petition Date, the Debtors owe the Bank Group
(consisting of lenders, Bank of America, N.A., Bank of American
Securities LLC as sole lead arranger and joint book runner, Wells
Fargo Capital Finance, LLC as joint book runner and syndication
agent, and RBS Capita, as documentation agent) an aggregate
principal amount of not less than $131,857,966 (inclusive of
outstanding letters of credit), plus accrued interest.

Saul Ewing LLP and Rhoads & Sinon LLP are serving as legal
advisors to the Debtors, Lazard Middle Market is serving as
financial advisor, and Carl Marks Advisors is serving as
restructuring advisor to AWI.  Douglas A. Booth has been tapped as
chief restructuring officer.  Epiq Systems serves as the claims
agent.


BAY AREA: Re/Max Gold Approved as Real Estate Broker
----------------------------------------------------
The Bankruptcy Court authorized Bay Area Financial Corporation to
employ Re/Max Gold Coast Beach Office as real estate broker.

To the best of the Debtor's knowledge RE/MAX does not hold or
represent any interest adverse to the estate in the matters upon
which it is to be engaged.

The Debtor is represented by:

         Sandford L. Frey, Esq.
         Stuart I. Koenig, Esq.
         Marta C. Wade, Esq.
         CREIM MACIAS KOENIG & FREY LLP
         633 W. Fifth Street, 51st Floor
         Los Angeles, CA 90071
         Tel: (213) 614-1944
         Fax: (213) 614-1961
         E-mails: sfrey@cmkllp.com
                  skoenig@cmkllp.com
                  mwade@cmkllp.com

                   About Bay Area Financial

Bay Area Financial Corp., a consumer finance company, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D.
Cal. Case No. 13-38974) on Dec. 9, 2013.  The case is assigned to
Judge Thomas B. Donovan.

The Debtor is represented by Sandford L. Frey, Esq., and Stuart I.
Koenig, Esq., at Creim Macias Koenig & Frey LLP.

The Debtor disclosed $15,248,851 in assets and $21,239,663 in
liabilities as of the Chapter 11 filing.  There is no secured
debt, although $141,000 is owing on a priority tax claim.

Peter C. Anderson, the U.S. Trustee for Region 16, appointed five
members to the Official Committee of Unsecured Creditors.  The
Committee is represented by James C. Bastian, Jr., Esq., and
Melissa Davis Lowe, Esq., at Shulman Hodges & Bastian LLP.


BERGENFIELD SENIOR: Deal to Resolve SM Global Disputes Approved
---------------------------------------------------------------
The United States Bankruptcy Court for the District of New Jersey
approved a settlement between SM Global Group, LLC, on one hand,
and Bergenfield Senior Housing, LLC, now known as Villa Rotonda
Apartments, LLC, Nicholas Rotonda, Rosemarie Rotonda and Rotonda
Construction Co., on the other hand.

The Settlement provides, in relevant part, that:

   (a) if there is at least $1,312,500 in available funds in the
       trust account held by the Debtor's counsel after payment
       of the actual, ordinary expenses incurred by the Debtor in
       winding down its affairs, then, upon entry of a final
       order approving the terms of the Settlement, $600,000 will
       be paid to the Rotondas in full settlement of any claims
       they have against the funds in the Trust Account, and SM
       Global will be paid the remaining funds in the Trust
       Account, in full satisfaction of its Class 8 Claim under
       the Chapter 11 Plan of Liquidation.  If there is less than
       $1,312,500 in the Trust Account, then the Rotondas will be
       paid $600,000, less one-half the available funds in the
       Trust Account below $1,312,500, and SM Global will be paid
       the remaining funds in the Trust Account;

   (b) The Rotondas will be responsible for payment or resolution
       of all Allowed Class 8 Claims under the Plan, with the
       exception of SM Global's Class 8 Claim;

   (c) The Debtor and the Rotonda Parties, on one hand, and SM
       Global, Shang Chong Kim, and Mun Hui Park, on the other
       hand, will release all claims they may have against each
       other, including without limitation, the claims asserted
       in the adversary proceeding brought by SM Global against
       the Rotonda Parties; and

   (d) The Adversary Proceeding will be dismissed with
       prejudice.

                About Bergenfield Senior Housing

Bergenfield Senior Housing, LLC, filed a Chapter 11 bankruptcy
petition (Bankr. D.N.J. Case No. 13-19703) in Newark, New Jersey,
on May 2, 2013.  Nicholas Rotonda signed the petition as
member/manager.

Aaron Solomon Applebaum, Esq., and Barry D. Kleban, Esq., at
McElroy, Deutsch, Mulvaney & Carpenter, LLP, represent the Debtor
as counsel.

In its schedules, the Debtor disclosed $14,061,100 in assets and
$19,957,026 in liabilities as of the Petition Date.

The Bergenfield, New Jersey-based debtor is a single asset real
estate under 11 U.S.C. Sec. 101(51B) and said total assets and
debts exceed $10 million.  The Debtor operates and wholly owns a
90-unit residential apartment building located at 47 Legion Drive,
Bergenfield, New Jersey.

The Debtor's primary secured creditor is Boiling Springs Savings
Bank.  The Debtor is indebted to Boiling Springs on account of two
promissory notes, both of which are secured by mortgages on the
Property.  Boiling Springs' first-position mortgage secures
indebtedness in the total amount of $12.02 million and the second-
position mortgage secures indebtedness of $575,000.

Judge Donald H. Steckroth oversees the case, taking over from
Judge Morris Stern, who passed away in February 2014.

The Bankruptcy Court, according to Bergenfield Senior Housing's
case docket, on Jan. 23, 2014, confirmed the Debtor's Second
Amended Plan of Liquidation dated Dec. 12, 2013.  The purpose of
the Plan is to liquidate, collect and maximize the cash value of
the assets of the Debtor and make distributions on account of
allowed claims against the Debtor's estate.  The Plan is premised
on the satisfaction of Claims through distribution of the proceeds
raised from the sale and liquidation of the Debtor's assets,
claims and causes of action.


BERNARD L. MADOFF: Trustee Wants 2nd Cir. Review of Merkin Ruling
-----------------------------------------------------------------
Law360 reported that Bernard Madoff's liquidating trustee said he
planned to appeal a New York bankruptcy judge's decision gutting
his $564 million fraudulent transfer suit against Madoff feeder
fund manager J. Ezra Merkin, asking the bankruptcy court for
permission to seek review before the U.S. Court of Appeals for the
Second Circuit.  According to the report, Bernard L. Madoff
Investment Securities LLC trustee Irving Picard said he wanted the
Second Circuit to decide whether he needed to plead that
defendants in fraudulent transfer suits actually knew Madoff was
committing fraud in order to survive safe harbor affirmative
defenses.

                     About Bernard L. Madoff

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

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

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

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

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

From recoveries in lawsuits coupled with money advanced by SIPC,
Mr. Picard has commenced distributions to victims, with the fourth
and latest batch of distributions done in May 2014.  Distributions
to eligible claimants have totaled almost $6 billion, which
includes $812.2 million in committed advances from the SIPC.  More
than 1,100 victims have already recovered the full principal they
lost in the fraud.

As of May 2014, Mr. Picard has recovered or reached agreements to
recover $9.8 billion since his appointment in December 2008.


BEVERAGE MARKETING: Faces Insolvency Over Founders' Dispute
-----------------------------------------------------------
Nate Raymond, writing for Reuters, reported that Beverage
Marketing USA Inc., the privately held producer of AriZona iced
tea, might face insolvency if the judge overseeing a dispute
between its founders sets its value at $3 billion or greater, said
a lawyer for the co-owner running the company.  According to the
report, during closing arguments in New York state court, Louis
Solomon, an attorney for co-owner Domenick Vultaggio, said the
AriZona beverage maker should not be forced to buy out estranged
business partner John Ferolito based on "la la land" numbers.  The
closing arguments capped a valuation trial to determine how much
Vultaggio and Beverage Marketing must pay to buy the 50 percent
stake held by the Ferolito and his son's trust, Reuters related.


BOREAL WATER: Incurs $88,000 Net Loss in Second Quarter
-------------------------------------------------------
Boreal Water Collection, Inc., filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $87,793 on $680,671 of sales for the three months
ended June 30, 2014, compared to a net loss of $45,094 on $588,184
of sales for the same period in 2013.

For the six months ended June 30, 2014, the Company reported a net
loss of $313,165 on $1.13 million of sales compared to a net loss
of $284,207 on $1.06 million of sales for the same period a year
ago.

As of June 30, 2014, the Company had $3.03 million in total
assets, $2.51 million in total liabilities and $516,580 in total
shareholders' equity.

At June 30, 2014, the Company had an accumulated deficit since
Jan. 10, 2006 (the date of quasi reorganization) of $2,786,634.
Liquid assets at June 30, 2014 consisted primarily of cash and
cash equivalents of $76,498.  Current liabilities of $2,161,106
exceeded current assets by $1,749,540.

Cash increased $13,078 to $76,498 at June 30, 2014, as compared to
$63,420 at Dec. 31, 2013.

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

                        http://is.gd/4aGH51

                         About Boreal Water

Kiamesha Lake, N.Y.-based Boreal Water Collection, Inc., is a
personalized bottled water company specializing in premium custom
bottled water.

Boreal Water reported net income of $849,748 on $2.15 million of
sales for the year ended Dec. 31, 2013, as compared with a net
loss of $822,902 on $2.68 million of sales in 2012.

Terry L. Johnson, CPA, in Casselberry, Florida, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2013.  The independent auditor noted
that the Company has incurred a deficit of approximately $2.5
million and has used approximately $400,000 of cash due to its
operating activities in the two years ended Dec. 31, 2013.  The
Company may not have adequate readily available resources to fund
operations through Dec. 31, 2014.  This raises substantial doubt
about the Company's ability to continue as a going concern.


BROWN MEDICAL: Court Sets October 1 Hearing to Confirm Plan
-----------------------------------------------------------
The Hon. Jeff Bohm of the U.S. Bankruptcy Court for the Southern
District of Texas approved on a "conditional basis" the disclosure
statement outlining Brown Medical Center Inc.'s proposed
liquidation plan so that it can start the solicitation of votes
from creditors by Aug. 29, 2014, at the request of Elizabeth
Guffy, the Debtor's bankruptcy trustee.

Judge Bohm set a hearing on Oct. 1, 2014, at 2:00 p.m., at
Courtroom 600, United States Bankruptcy Court, 515 Rusk in
Houston, Texas, to confirm the plan for the Debtor.  Objections,
if any, are due Sept. 24, 2014.

North Houston Hand Center P.A. and Northwest Houston Hand Center
P.A. objected to the bankruptcy trustee's request due to the lack
of time to analyze and respond to the adequacy of the information
contained in the disclosure statement, and the other relief
requested in the motion.

According to North Houston and Northwest Houston, the Trustee
requested that this matter be heard on an emergency basis when
there is no emergency.  The desire to confirm a plan of
reorganization before the expiration of a lease is not an
emergency.  The Trustee has provided no logical reason to justify
rushing through confirmation proceedings and depriving the
estate's creditors and their representatives the opportunity to
assess fully the proposed Disclosure Statement and related
confirmation matters.

North Houston and Northwest Houston retained as counsel:

  Steven A. Leyh, Esq.
  LEYH, PAYNE & MALLIA, PLLC
  9545 Katy Freeway, Suite 200
  Houston, TX 77024
  Tel: (713) 785-0881
       (713) 464-5655
  Cel: (713) 906-0753
  Fax: (713) 784-0338
  Email: sleyh@lpmfirm.com

According to Ms. Guffy, the information contained in the outline
for BMC's liquidation plan "is sufficient in type and detail to
enable creditors and equity security holders to make an informed
judgment about the plan."

The bankruptcy trustee proposes a Sept. 24 deadline for voting
creditors to cast their ballots.

                        The Chapter 11 Plan

Under the liquidation plan for BMC, the remaining assets,
including cash and the right to receive a portion of the net
proceeds from ongoing collection of accounts receivable, will vest
in the "liquidating debtor" -- the company after the effective
date of the plan.

The proposed plan divides claims and equity interests into five
classes.  Class 1, which is comprised of priority non-tax claims,
will be paid in full from available cash.

Secured claims in Class 2 will receive either the proceeds of any
collateral sold or liquidated after full payment of superior
liens, or any unsold collateral securing those claims.

Meanwhile, the plan proposes to distribute available cash pro rata
to creditors holding general unsecured claims in Class 3.  After
payment in full of all general unsecured claims, each holder of a
subordinated claim in Class 4 will receive a pro rata share of
available cash.

Class 5, which is comprised of equity interests in BMC, will be
canceled as of the effective date of the plan.  Any available cash
after full payment of subordinated claims will be distributed pro
rata to holders of equity interests.

A full-text copy of the disclosure statement is available at no
extra cost at http://is.gd/6CvPE2

                         About Brown Medical

Houston, Texas-based Brown Medical Center, Inc., is a management
company that historically served as the epicenter of the operating
business enterprise directly or indirectly owned or controlled by
Michael Glyn Brown, including six surgery centers and related
facilities.  The Company sought protection under Chapter 11 of the
Bankruptcy Code on Oct. 15, 2013 (Case No. 13-36405, Bankr.
S.D.Tex.).  The case is assigned to Judge Marvin Isgur.

Brown Medical Center is represented by Spencer D. Solomon, Esq.,
at Nathan Sommers Jacobs, P.C., in Houston, Texas.

In November 2013, the Bankruptcy Court approved the appointment of
Elizabeth M. Guffy as Chapter 11 trustee.  The trustee hired
Porter Hedges LLP, led by Joshua W. Wolfshohl, Esq., John F.
Higgins, Esq., and James Matthew Vaughn, Esq., Nick D. Nicholas,
Esq., J. Patrick LaRue, Esq., and Craig M. Bergez, as counsel.
The trustee tapped The Claro Group, LLC, as financial advisor and
consultant.

In its schedules, Brown Medical listed $13,807,746 in assets and
$27,716,168 in liabilities.  Brown Medical owes Crown Financial
Funding, LP, the primary secured creditor, pursuant to a pre-
bankruptcy promissory note in the original principal amount of
$2 million, which indebtedness is secured by a security agreement
from Allied Center for Special Surgery, Scottsdale, LLC covering
accounts and accounts receivable which the Debtor has the right to
collect.


BROWNSVILLE MD: Court Dismisses Appeal From Stay Relief Order
-------------------------------------------------------------
The Bankruptcy Court dismissed the appeal taken by Brownsville MD
Ventures, LLC, which requested the Court to vacate its prior order
granting Pineda Grantor Trust II relief from the automatic stay.

The Court directed that each party bear their own costs.

On June 16, 2014, the Bankruptcy Court denied confirmation of the
Debtor's First Amended Chapter 11 Plan and granted Pineda Grantor
Trust II's motion for relief from stay.  Following a motion to
reconsider, an appeal was filed.

The Debtor, in its motion, stated that on Aug. 19, 2014, the
Debtor entered into an adequate protection agreement with Optima
Health Group, LLC.  The Optima Agreement addresses each of the
issues that the Bankruptcy Court had with the Debtor's Plan and
provides a path forward to a confirmable plan.

Under the Optima Agreement, Optima will take possession of the
Property on Sept. 1, 2014, under lease-like provisions, and will
make a monthly payment to the Debtor that will be sufficient for
the Debtor to pay current principal and interest to Pineda and to
address the delinquency owed to Pineda.  Optima will address past-
due taxes owed to Cameron County, Texas and pay current taxes.

The Debtor's amended plan will also provide a payment to holders
of allowed unsecured claims.  In addition to making the monthly
payment, pursuant to the Optima Agreement, Optima will remediate
the property and will continuously operate a hospital in the
facility.  Optima will further be responsible for all insurance,
utilities and taxes.

Finally, Optima is provided an option to purchase the property for
a price of $17,500,000.

Pineda Grantor Trust II and Pineda REO, LLC, in response to the
Debtor's motion for relief from judgment or order, said the Debtor
sought to prevent Pineda from foreclosing on its collateral for
the third time.

The first attempted foreclosure scheduled in September 2013, was
stayed by the bankruptcy.  After almost a year in bankruptcy and
after the Court lifted the stay, Pineda was prevented from
foreclosing in August 2014 through the temporary restraining order
issued by the State Court.

Pineda stated that the property is in need of repairs and
maintenance and it continues to depreciate.  The Debtor is
incapable of providing those repairs and maintaining the building.

                   About Brownsville MD Ventures

Brownsville MD Ventures, LLC, was formed in 2004 for the purpose
of acquiring real property and improvements in Brownsville, Texas.
The company leased the property to Brownsville Doctors Hospital,
LLC, which operated a hospital on the premises.  The tenant has
ceased operations, and the property has been vacant since August
2012.

Brownsville MD Ventures filed a Chapter 11 petition (Bankr. S.D.
Tex. Case No. 13-10341) on Aug. 26, 2013, in Brownsville, Texas.
Chester Gonzalez, the managing member and the chairman of the
board of managers, signed the bankruptcy petition.

The Debtor disclosed $24 million in assets and $14.7 million in
liabilities in its schedules.

The Debtor's property was appraised by Compass Bank in July 2011
with a fair market value in excess of $20,000,000.  Pineda Grantor
Trust II, as assignee of Compass Bank (which provided a loan to
finance the acquisition of the property), is the secured lender.

Kell Corrigan Mercer, Esq., at Husch Blackwell, LLP, in Austin,
Texas, serves as the Debtor's counsel.  The Debtor tapped The
Rentfro Law Firm PLLC as special counsel to provide legal advice
regarding business matters.

Judge Richard S. Schmidt presides over the case.


BROWNSVILLE MD: Wants Case Dismissed Following Foreclosure
----------------------------------------------------------
Brownsville MD Ventures, LLC, asks the Bankruptcy Court to dismiss
its Chapter 11 case.

The Debtor states that Pineda Grantor Trust II (or its alleged
successor) has foreclosed upon the Debtor's property.  The Debtor
has turned over the cash in the operating account to Pineda.

The Debtor adds that there exists a continuing loss to or
diminution of the estate and the absence of a reasonable
likelihood of rehabilitation.

The Debtor notes that it is current on its payments to the U.S.
Trustee and will continue to comply with its obligations until an
order is entered dismissing the case.

                   About Brownsville MD Ventures

Brownsville MD Ventures, LLC, was formed in 2004 for the purpose
of acquiring real property and improvements in Brownsville, Texas.
The company leased the property to Brownsville Doctors Hospital,
LLC, which operated a hospital on the premises.  The tenant has
ceased operations, and the property has been vacant since August
2012.

Brownsville MD Ventures filed a Chapter 11 petition (Bankr. S.D.
Tex. Case No. 13-10341) on Aug. 26, 2013, in Brownsville, Texas.
Chester Gonzalez, the managing member and the chairman of the
board of managers, signed the bankruptcy petition.

The Debtor disclosed $24 million in assets and $14.7 million in
liabilities in its schedules.

The Debtor's property was appraised by Compass Bank in July 2011
with a fair market value in excess of $20,000,000.  Pineda Grantor
Trust II, as assignee of Compass Bank (which provided a loan to
finance the acquisition of the property), is the secured lender.

Kell Corrigan Mercer, Esq., at Husch Blackwell, LLP, in Austin,
Texas, serves as the Debtor's counsel.  The Debtor tapped The
Rentfro Law Firm PLLC as special counsel to provide legal advice
regarding business matters.

Judge Richard S. Schmidt presides over the case.


BROWNSVILLE MD: Wants Pineda to Pay $467,867 for Contract Breach
----------------------------------------------------------------
Brownsville MD Ventures, LLC, asks the Bankruptcy Court for
preliminary injunctive relief against Pineda Grantor Trust II and
Pineda REO LLC, requesting that the Court:

   -- enter judgment against Pineda in amount in excess of
$467,867; and

   -- award the Debtor its attorneys' fees, plus pre-judgment and
post-judgment interest and all taxable costs associated with this
suit.

According to the Debtor, it has been damaged by Pineda's breach of
the collateral fund agreement.  The Debtor has incurred legal fees
and expenses in connection with Pineda's breach.

The Debtor noted that it appeared that Pineda accepted funds from
the Debtor that must have been held in trust in the collateral
account and instead kept the funds in a non-segregated general
account in the name of Pineda.  The funds did not bear interest as
required by the collateral fund agreement.  These acts and
omissions are a breach of the collateral fund agreement, the
Debtor asserted.

The Debtor also said that banking records for the collateral
account must exist that will demonstrate precisely what time the
collateral account was applied on the Petition Date.  Pineda has
produced some internal accounting documents relating to the
application of funds.

The Debtor has requested information from Pineda that, if
produced, would answer the question regarding whether or not the
collateral account was applied in violation of the automatic stay
after the Bankruptcy Case was filed.

                   About Brownsville MD Ventures

Brownsville MD Ventures, LLC, was formed in 2004 for the purpose
of acquiring real property and improvements in Brownsville, Texas.
The company leased the property to Brownsville Doctors Hospital,
LLC, which operated a hospital on the premises.  The tenant has
ceased operations, and the property has been vacant since August
2012.

Brownsville MD Ventures filed a Chapter 11 petition (Bankr. S.D.
Tex. Case No. 13-10341) on Aug. 26, 2013, in Brownsville, Texas.
Chester Gonzalez, the managing member and the chairman of the
board of managers, signed the bankruptcy petition.

The Debtor disclosed $24 million in assets and $14.7 million in
liabilities in its schedules.

The Debtor's property was appraised by Compass Bank in July 2011
with a fair market value in excess of $20,000,000.  Pineda Grantor
Trust II, as assignee of Compass Bank (which provided a loan to
finance the acquisition of the property), is the secured lender.

Kell Corrigan Mercer, Esq., at Husch Blackwell, LLP, in Austin,
Texas, serves as the Debtor's counsel.  The Debtor tapped The
Rentfro Law Firm PLLC as special counsel to provide legal advice
regarding business matters.

Judge Richard S. Schmidt presides over the case.


BUDD CO: Drops Second Settlement with Parent ThyssenKrupp
---------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Budd Co., which sold or closed most of its
operations in 2006, decided it won't go ahead with the second of
two settlements to complete separation from the parent,
ThyssenKrupp AG.

According to the report, under the second settlement, negotiated
before bankruptcy, Thyssen would give Budd $10.3 million more cash
and assume liability for Budd's pension plans, which have unfunded
benefit liabilities of $197 million.  On Oct. 6, the bankruptcy
court will hold a status conference on the settlement.

                     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.


BUCCANEER ENERGY: $10 Million Creditor Settlement Approved
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that a judge in Victoria, Texas, approved a $10 million
settlement between Buccaneer Energy Ltd., largest shareholder
Meridian Capital International Fund, proposed buyer and secured
lender AIX Energy LLC, and the official creditors' committee.
According to the report, the settlement provides that Buccaneer
will reserve and segregate $10 million for the creditor trust from
available cash collateral.

                     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.

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 other debtors are
Buccaneer Energy Limited, Buccaneer Energy Holdings, Inc.,
Buccaneer Alaska Operations, LLC, Buccaneer Alaska, LLC, Kenai
Land Ventures, LLC, Buccaneer Alaska Drilling, LLC, Buccaneer
Royalties, LLC, and Kenai Drilling, LLC.

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.

The U.S. Trustee for Region 7 on June 10, 2014, appointed five
creditors to serve on the official committee of unsecured
creditors.  The Committee retained Greenberg Traurig, LLP as legal
counsel to the Committee, and Alvarez & Marsal North America, LLC
as financial advisors.


CAESARS ENTERTAINMENT: To Begin Formal Discussions With Creditors
-----------------------------------------------------------------
Caesars Entertainment Corporation and its subsidiary Caesars
Entertainment Operating Company, Inc., have executed non-
disclosure agreements with certain beneficial holders of CEOC's
11.25% senior secured notes due 2017, 8.5% senior secured notes
due 2020 and 9% senior secured notes due 2020, clearing the path
to commence formal discussions with the First Lien Creditors.

"We are committed to working constructively with creditors to
deleverage CEOC and create a path toward a sustainable capital
structure for CEOC that is in the best interest of all
stakeholders," said Gary Loveman, Chairman and CEO of Caesars
Entertainment and Chairman of CEOC.

                    About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.
-- http://www.caesars.com/-- is one of the world's largest casino
companies.  Caesars casino resorts operate under the Caesars,
Bally's, Flamingo, Grand Casinos, Hilton and Paris brand names.
The Company has its corporate headquarters in Las Vegas.

Harrah's announced its re-branding to Caesar's in mid-November
2010.

Caesars Entertainment reported a net loss of $2.93 billion in
2013, as compared with a net loss of $1.50 billion in 2012.  As of
June 30, 2014, the Company had $27.06 billion in total assets,
$29.64 billion in total liabilities and a $2.57 billion
total deficit.

                           *     *     *

As reported by the TCR on April 9, 2013, Moody's Investors Service
downgraded Caesars Entertainment Corporation's Corporate Family
Rating to Caa2.

"The downgrade of Caesars' ratings considers that its same store
EBITDA growth in 2012-2013 has failed to materialize to any
significant degree, and so Caesars' credit metrics have
deteriorated and its free cash flow deficit will be higher than
Moody's previous expectations," stated Moody's analyst Peggy
Holloway.

In the April 10, 2014, edition of the TCR, Standard & Poor's
Ratings Services lowered its corporate credit ratings on Las
Vegas-based Caesars Entertainment Corp. (CEC) and wholly owned
subsidiaries, Caesars Entertainment Operating Co. (CEOC) and
Caesars Entertainment Resort Properties (CERP), as well
as the indirectly majority-owned Chester Downs and Marina, to
'CCC-' from 'CCC+'.  The downgrade reflects S&P's expectation that
Caesars' capital structure is unsustainable, and the amount of
cash the company will burn in 2014 and 2015 creates conditions
under which S&P believes a restructuring of some form is
increasingly likely over the near term absent an unanticipated
significantly favorable change in operating performance.

As reported by the TCR on May 1, 2014, Fitch Ratings had
downgraded the Issuer Default Ratings (IDRs) of Caesars
Entertainment Corp (CEC) and Caesars Entertainment
Operating Company (CEOC) to 'CC' from 'CCC'.


CD STORES: Wins Confirmation of Chapter 11 Plan
-----------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that U.S. Bankruptcy Judge Shelley C. Chapman, on Sept. 2,
signed an order confirming the reorganization plan for CD Stores
LLC, a New York-based distributor and retailer of natural hair,
body and skincare products under the name Carol's Daughter.
According to the report, holders of $900,000 in general unsecured
claims share remaining cash after creditors with higher priority
are fully paid.

                         About CD Stores

Entities affiliated with beauty products company Carol's Daughter
filed for Chapter 11 bankruptcy protection April 24, 2014 (Bankr.
S.D.N.Y. Lead Case No. 14-11192) in Manhattan.  The filing
entities are CD Stores LLC and its retail affiliates: CD Store
125th, LLC; CD Store Atlantic Terminal, LLC; CD Store Roosevelt
Field, LLC; CD Store Pentagon City LLC; CD Store Newport Centre,
LLC; CD Store Fox Hills, LLC; and CD Store Lenox Square, LLC.

The Debtors' primary business is the marketing and sales of
natural hair, body, and skincare beauty products under the name
"Carol's Daughter," from retail stores located in New York, New
Jersey, Georgia, Virginia, and California.  Carol's Daughter has
been known for its natural beauty products for more than 20 years.

Debtor CD Stores does not operate a retail location, and has no
employees, but it is the sole member of the Retail Debtors, and
guarantor with respect to certain lease agreements for Debtor
125th, Debtor Roosevelt Field, Debtor Lenox, Debtor Newport,
Debtor Fox, and Debtor Pentagon.

Debtor CD Stores is wholly owned by Carol's Daughter Holdings,
LLC, a New York limited liability company.  CD Holdings is the
sole member of Debtor CD Stores, and Carol's Daughter Products,
LLC, a Delaware limited liability company.

Neither CD Holdings nor CD Products have sought bankruptcy
protection.  CD Holdings and CD Products focus on the marketing
and sales of Carol's Daughter beauty products direct to consumers,
through CarolsDaughter.com, a website owned and operated by
Carol's Daughter Online, LLC1, as well as to wholesale vendors.
The Debtors are not involved in the online marketing and sales of
Carol's Daughter beauty products.

CD Stores estimated assets and debts each in the $1 million to $10
million range.  As of April 20, 2014, the Debtors, on an unaudited
basis, had total assets with a book value of $280,435 and total
liabilities of roughly $7,050,016.

Judge Shelley C. Chapman presides over the cases.  Gerard R.
Luckman, Esq., and Adam L. Rosen, Esq., at Silverman Acampora LLP,
serve as the Debtors' counsel.

The petitions were signed by John D. Elmer, chief financial
officer, chief operating officer.


COLONIAL BANK: PwC Must Face Audit Suit, Ala. Court Says
--------------------------------------------------------
Law360 reported that an Alabama federal judge declined to throw
out a lawsuit brought by the trustee for defunct Colonial
BancGroup Inc. accusing PricewaterhouseCoopers LLP and Crowe
Horwath LLP of failing to properly audit the failed bank, finding
questions of fact persist in the case.  According to the report,
U.S. District Judge W. Keith Watkins held that breach of contract
claims against the auditors can't be tossed on a motion to dismiss
the action, since Colonial has adequately alleged its performance
under contracts with the accounting firms.

                    About The Colonial BancGroup

Headquartered in Montgomery, Alabama, The Colonial BancGroup,
Inc., (NYSE: CNB) owned Colonial Bank, N.A, its banking
subsidiary.  Colonial Bank -- http://www.colonialbank.com/--
operated 354 branches in Florida, Alabama, Georgia, Nevada and
Texas with over $26 billion in assets.  On Aug. 14, 2009, Colonial
Bank was seized by regulators and the Federal Deposit Insurance
Corporation was named receiver.  The FDIC sold most of the assets
to Branch Banking and Trust, Winston-Salem, North Carolina.  BB&T
acquired $22 billion in assets and assumed $20 billion in deposits
of the Bank.

The Colonial BancGroup filed for Chapter 11 bankruptcy protection
(Bankr. M.D. Ala. Case No. 09-32303) on Aug. 25, 2009.  W. Clark
Watson, Esq., at Balch & Bingham LLP, and Rufus T. Dorsey IV,
Esq., at Parker Hudson Rainer & Dobbs LLP, serve as counsel to the
Debtor.  The Debtor disclosed $45 million in total assets and $380
million in total liabilities as of the Petition Date.

In September 2009, an Official Committee of Unsecured Creditors
was formed consisting of three members, Fine Geddie & Associates,
The Bank of New York Trust Company, N.A., and U.S. Bank National
Association.  Burr & Forman LLP and Schulte Roth & Zabel LLP serve
as co-counsel for the Committee.

Colonial Brokerage, a wholly owned subsidiary of Colonial
BancGroup, filed for Chapter 7 protection with the U.S. Bankruptcy
Court in the Middle District of Alabama in June 2010.  Susan S.
DePaola serves as Chapter 7 trustee.


COMMUNITYONE BANCORP: CEO Brian Simpson to Step Down
----------------------------------------------------
Brian Simpson, 51, chief executive officer of CommunityOne
Bancorp, as well as the CEO of CommunityOne Bank, N.A., is leaving
the Company effective Sept. 30, 2014.  He also is stepping down
from the boards of directors of the Company and the Bank.

CommunityOne's current President, Bob Reid, 58, will assume the
duties of CEO going forward upon receipt of supervisory non-
objection.

The Boards of Directors of the Company and the Bank are reducing
the size of the boards from 9 to 8 members as a result of Mr.
Simpson's resignation.

During his three-year tenure, Mr. Simpson, and the veteran
management team that he recruited, recapitalized the two
historically important North Carolina banks, dramatically reduced
their levels of problem assets, returned them to profitability and
merged them into CommunityOne Bank to create one of the largest
community banks in the Piedmont and Western regions of North
Carolina.

"With the financial institution's core business strengthened,
CommunityOne is increasingly focused on managing costs and growing
its business lines in the competitive North Carolina community
banking market," said CommunityOne Chairman Chan Martin.

"As the Board began its 2015 strategic planning process, the need
to reduce operating expenses to levels consistent with the
company's peers was an obvious focus," Martin said.  "Management
presented various alternatives including consolidation at the
executive management level.  The Board supported the
recommendation and it asked Bob to lead the consolidation.  Brian
has provided leadership and vision to the company, and his service
is greatly appreciated by the Board."

Reid has been president of CommunityOne for the past three years
with responsibility for its lines of business, operations and
technology, marketing, internal and external communications,
community development and corporate real estate.  Most recently he
led CommunityOne's expansion of commercial lending activities in
Greensboro, and into Winston-Salem and Raleigh.

"I am pleased to follow in Brian's footsteps and lead CommunityOne
as it increasingly shifts focus to the organic growth of its
business," Reid said.  "Brian has done a very nice job leading the
company over the past three years.  We certainly wish him well and
thank him for the significant contributions he has made to the
company."

In connection with Mr. Simpson's departure, the Company, the Bank
and Mr. Simpson entered into a separation agreement, dated as of
Sept. 11, 2014, pursuant to which Mr. Simpson will receive a
severance payment of $2 million.  In addition, the Separation
Agreement provides for Mr. Simpson to be subject to various
restrictive covenants, including a two-year covenant relating to
non-solicitation and non-competition, as well as maintaining
confidentiality.

In addition, Mr. Simpson, the Company and the Bank have entered
into a consulting agreement, dated as of Sept. 11, 2014, pursuant
to which Mr. Simpson has agreed to assist in matters as may be
requested by the president and chief executive officer of the
Company for a period of two years.  Under the Consulting
Agreement, Mr. Simpson will receive an annual consulting fee of
$125,000.  The Separation Agreement provides that the $2 million
severance payment and the Consulting Agreement are both
conditioned upon Mr. Simpson executing a release agreement.

                        About CommunityOne

CommunityOne Bancorp (formerly FNB United) is the North Carolina-
based bank holding company for CommunityOne Bank, N.A.
(community1.com), which offers a full range of consumer, mortgage
and business banking services, including loan, deposit, cash
management, wealth and online banking services through 55 branches
in 44 communities throughout the central, southern and western
regions of the state.

CommunityOne Bancorp incurred a net loss of $1.48 million in 2013,
a net loss of $40 million in 2012, and a $137.31 million net loss
in 2011.


CONCRETE CORING: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Concrete Coring Company of St. Louis, Inc.
        5425 Manchester Ave
        Saint Louis, MO 63110

Case No.: 14-47256

Chapter 11 Petition Date: September 12, 2014

Court: United States Bankruptcy Court
       Eastern District of Missouri (St. Louis)

Judge: Hon. Kathy A. Surratt-States

Debtor's Counsel: John Talbot Sant, Jr., Esq.
                  THE AFFINITY LAW GROUP
                  1610 Des Peres Road, Suite 100
                  St. Louis, Mo 63131
                  Tel: (314) 872-3333
                  Email: tsant@affinitylawgrp.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Howard H Hall III, president/owner.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/moeb14-47256.pdf


CONSTAR INTERNATIONAL: Seeks Third Extension of Exclusive Periods
-----------------------------------------------------------------
Capsule International Holdings LLC, f/k/a Constar International
Holdings LLC, and its debtor affiliates, is asking, for the third
time, the U.S. Bankruptcy Court for the District of Delaware to
extend their exclusive period to file a Chapter 11 plan through
and including Nov. 14, 2014, and their exclusive period to solicit
acceptances of that plan through and including Jan. 13, 2015.

The Official Committee of Unsecured Creditors conducted an
investigation of claims and causes of action that needed to be
disclosed in the disclosure statement.  The Creditors' Committee
has concluded its investigation and has filed a report on the
findings of that investigation.  The Debtors believe that, now
that the Committee's investigative report has been filed, the
Committee will be able to formulate and fund a Chapter 11 plan and
finalize the liquidation of the company.  The Debtors say the
additional time is needed in order for the Committee to effectuate
its proposal of the Plan and solicitation of votes in support
thereof.

A hearing to consider approval of the extension request will be on
Oct. 15, 2014, at 11:00 a.m.  Objections are due Sept. 26.

The extension request was filed by Charlene D. Davis, Esq., and
Evan T. Miller, Esq., at Bayard, P.A., in Wilmington, Delaware, on
behalf of the Debtors.

                    About Constar International

Privately held Constar International Holdings and nine affiliated
debtors (nka Capsule International Holdings, et al.)  filed for
Chapter 11 protection (Bankr. D. Del. Lead Case No. 13-13281) on
Dec. 19, 2013.

Constar, which manufactures plastic containers, is represented by
Michael J. Sage, Esq., Brian E. Greer, Esq., Stephen M. Wolpert,
Esq., and Janet Bollinger Doherty, Esq., at Dechert LLP; and
Robert S. Brady, Esq., and Sean T. Greecher, Esq., at Young
Conaway Stargatt & Taylor, LLP.  Prime Clerk LLC serves as the
Debtors' claims and noticing agent, and administrative advisor.
Lincoln Partners Advisors LLC serves as the Debtors' financial
advisor.

Judge Christopher S. Sontchi oversees the 2013 case.

This is Constar International's third bankruptcy.  Constar first
filed for Chapter 11 protection (Bankr. D. Del. Lead Case No.
08-13432) in December 2008, with a pre-negotiated Chapter 11 Plan
and emerged from bankruptcy in May 2009.  Constar and its
affiliates returned to Chapter 11 protection (Bankr. D. Del. Case
No. 11-10109) on Jan. 11, 2011, with a pre-negotiated Chapter 11
plan and emerged from bankruptcy in June 2011.

The new petition listed assets worth less than $100 million
against $123 million on three layers of secured debt.

Attorneys at Brown Rudnick LLP represent the official committee of
unsecured creditors.  The Committee retained Alvarez & Marsal
North America LLC as its financial advisor.

Counsel to Wells Fargo Capital Finance, LLC, the revolving loan
agent, is Andrew M. Kramer, Esq., at Otterbourg P.C.

On Feb. 10, 2014, the Bankruptcy Court authorized Constar to sell
certain assets to Plastipak Packaging, Inc., a global manufacturer
of rigid plastic packaging.  The Court determined that Plastipak's
$102,450,000 offer for the Debtors' U.S. assets bested the offers
from Amcor Rigid Plastics USA, Inc., and Envases Universales De
Mexico S.A.P.I. De C.V. during a Feb. 6 auction.

Separately, the Court authorized Constar to sell a facility in
Havre de Grace, Maryland, to Smucker Natural Foods, Inc., for
$3 million.  There was no other bidder for the Maryland facility.

The sole director of debtor Constar International U.K. Limited has
appointed Daniel Francis Butters and Nicolas Guy Edwards of
Deloitte LLP as administrators.  The U.K. Administration
Proceeding follows the closing of the sale of the U.K. assets to
Sherburn Acquisition Limited.  The Delaware Bankruptcy Judge
authorized the U.S. Debtors to sell the U.K. Assets to Sherburn
for GBP3,512,727, (or US$7,046,000), less the deposit in the sum
of US$1,250,000.

Secured lender Black Diamond Commercial Finance, LLC, as DIP note
agent, and Wells Fargo Capital Finance, LLC, as DIP revolving
agent and agent under the revolving loan facility, consented to
the administration of Constar U.K. and the appointment of the
Joint Administrators.

In view of the asset sales in the U.S. and the U.K., the Debtors
changed their corporate trade names -- and with the Bankruptcy
Court's consent, their bankruptcy case caption -- to Capsule Group
Holdings, Inc.; Capsule Intermediate Holdings, Inc.; Capsule
Group, Inc.; Capsule International LLC; Capsule DE I, Inc.;
Capsule DE II, Inc.; Capsule PA, Inc.; Capsule Foreign Holdings,
Inc.; and Capsule International U.K. Limited (Foreign).


CSN HOUSTON: Plan Outline Okayed; Oct. 2 Confirmation Hearing Set
-----------------------------------------------------------------
Debtor Houston Regional Sports Network, L.P., Rocket Ball, Ltd.,
and Houston Astros, LLC, as proponents, filed with the U.S.
Bankruptcy Court for the Southern District of Texas a second
amended disclosure statement relating to their amended Chapter 11
plan dated Sept. 4, 2014.

A copy of the Second Amended Disclosure Statement is available for
free at http://bankrupt.com/misc/CSNHOUSTON_529_2ds.pdf

The Proponents believe the Plan will expedite distributions to the
Debtor's stakeholders efficiently and facilitate carriage of
Astros' and Rockets' games throughout the local region.  Certain
Plan distributions will be financed from (a) the cash on hand with
the Debtor at 12:00 midnight (Central Time) on the effective date
and (b) the Debtor's accounts receivable accrued for the period up
through 11:59 p.m. (Central Time) on the day prior to the
effective date, with the Rockets and Astros also undertaking to
contribute certain additional sums to fund the Plan.

Rocket Ball and Astros have agreed not to object to the Debtor's
rejection of the Existing Media Rights Agreements.  Instead, they
agreed to enter into New Media Rights Agreements which will reduce
the aggregate financial obligations of the Debtor, relative to the
Existing Media Rights Agreements by, among other things, not
requiring the payment in full in cash of all Administrative and
Priority Claims associated with the Existing Media Rights
Agreements and instead each accepting a General Unsecured Claim
that will be satisfied by the proceeds of the Litigation Trust.

The aggregate principal amount of unpaid media rights fees under
the Existing Media Rights Agreements owed to Rocket Ball and
Astros exceeds $131 million, with approximately $105 million in
principal amount consisting of Administrative and Priority Claims.

The Plan also provides that:

     (a) the Comcast Affiliation Agreement will be assumed
pursuant to sections 365 and 1123(b)(2) of the Bankruptcy Code;

     (b) the reorganized Debtor will enter into the AT&T
Affiliation Agreement, pursuant to which AT&T will pay the
reorganized Debtor monthly, per-subscriber rates;

     (c) the reorganized Debtor will enter into the DTV
Affiliation Agreement, pursuant to which DTV will pay the
reorganized Debtor monthly, per-subscriber rates;

     (d) the reorganized Debtor will enter into the Network
Services Agreement with DTV Sports;

     (e) the Comcast Services Agreement will be deemed terminated
pursuant to its terms;

     (f) all of the Limited Partnership Interests in the Debtor
will be cancelled and the Debtor will be converted into a Delaware
limited liability company;

     (g) AT&T Teleholdings and DTV Sports will receive 100% of the
membership interests in the reorganized Debtor;

     (h) each trade creditor will be paid the full principal
amount of its claims in cash in four separate and equal
installments, beginning on the applicable Plan distribution date,
without interest and receive a release by the Debtor of all
avoidance actions held by the Debtor against the creditor;  and

     (i) the Debtor will establish a litigation trust to be
administered by a litigation trustee.

On Sept. 4, 2014, the Court entered an order approving the Second
Amended Disclosure Statement, and scheduled the confirmation
hearing for Oct. 2, 2014, at 9:00 a.m. (prevailing Central Time).

As reported by the Troubled Company Reporter on Sept. 5, 2014,
Anders Melin, writing for The Deal, reported that Comcast Corp.
filed an objection to the disclosure statement explaining Houston
Regional Sports Network LP's reorganization plan, raising concerns
about the regional sports network owner's treatment of its $100
million secured claim, the $1,000 purchase price to be paid by
proposed buyers AT&T Inc. and DirecTV and the true motives of
joint venture partners Houston Astros LLC and Rocket Ball Ltd.,
which have orchestrated the deal and proposed the plan with HRSN.

On Aug. 28, 2014, McLane Champions, LLC and R. Drayton McLane,
Jr., also filed an objection to the Disclosure Statement, saying
that it is inadequate in that it fails to disclose the legal basis
for the proposed subordination of the claims of the McLane
Parties.  The McLane Parties claims that the Disclosure Statement
also fails to disclose how much the McLane Parties will receive
under the Plan.

On Sept. 3, 2014, Comcast supplemented its objection stating that
"at the hearing on Aug. 7, 2014, during which this Court set the
Aug. 28 deadline for the Plan Proponents to disclose valuation
information concerning Comcast lender's secured claim, the Court
made abundantly clear that the Amended Disclosure Statement needed
to set forth, in reasonable detail, the value being ascribed to
Comcast lender's collateral, and the basis for that valuation."  A
copy of the supplemental objection is available for free at:

        http://bankrupt.com/misc/CSNHOUSTON_514_dsobj.pdf

The Plan Proponents filed on Sept. 3 a response to the Comcast
entities' objection to the approval of the Disclosure Statement,
saying that Comcast's objections are without merit, and are
inconsistent with Comcast's own statements concerning the
structure and the objective of a Plan for the Debtor.  The Plan,
say the Plan Proponents, is wholly in accord with Comcast's stated
purpose of using the Chapter 11 process to restructure the Debtor'
governance, to successfully restructure the Network, and make the
Debtor profitable by obtaining additional carriage.  With no help
from Comcast, and through the contribution of significant value
and sacrifice of substantial claims against the Debtor, the teams
have negotiated a Plan that is manifestly fair, equitable, and
confirmable.  The Plan, according to the Plan Proponents, is the
only viable alternative to liquidation, maximizes available
recoveries for the Debtor's stakeholders, triples the Debtor's
revenue, nearly doubles the availability of the Debtor's content
in the inner-Houston market, and provides Comcast (including
Comcast Lender) the recovery to which it is legally entitled.

A copy of the response is available for free at:

       http://bankrupt.com/misc/CSNHOUSTON_519_dsresp.pdf

The McLane Parties are represented by:

      Jackson Walker L.L.P.
      Matthew D. Cavenaugh, Esq.
      Charles L. Babcock, Esq.
      1401 McKinney Street, Suite 1900
      Houston, Texas 77010
      Tel: (713) 752-4200
      Fax: (713) 308-4184
      E-mail: mcavenaugh@jw.com

              and

      Beck Redden, L.L.P.
      Murray Fogler, Esq.
      David J. Beck, Esq.
      1221 McKinney Street, Suite 4500
      Houston, Texas 77010
      Tel: (713) 951-6235
      Fax: (713) 308-43720
      E-mail: mfogler@beckredden.com

Mr. McLane is represented by:

      Fisher, Boyd, Johnson, & Huguenard, L.L.P.
      Wayne Fisher, Esq.
      Bernard G. Johnson, III, Esq.
      2777 Allen Parkway, 14th Floor
      Houston, Texas 77019
      Tel: (713) 400-4000
      Fax: (713) 400-4050
      E-mail: wfisher@fisherboyd.com
              bj@fisherboyd.com

             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.


DETROIT, MI: Technology Chief Describes Obsolete Computers
----------------------------------------------------------
Steven Raphael and Steven Church, writing for Bloomberg News,
reported that Beth Niblock, the city of Detroit's chief
information officer, testified before U.S. Bankruptcy Judge Steven
Rhodes that the city's municipal computer systems are "beyond
fundamentally broken" and holding back the city's recovery.
According to the report, Ms. Niblock told the court, as part of
the trial on Detroit's plan of debt adjustment, that the
antiquated desktop computers can take 10 minutes to start up, and
basic software is "generations behind."

                  About City of Detroit, Michigan

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

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

Michigan Governor Rick Snyder authorized the bankruptcy filing.

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

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

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

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

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

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

                           *     *     *

Standard & Poor's Ratings Services, on Sept. 5, 2014, raised its
ratings on five bond CUSIPs of Detroit's outstanding sewerage
disposal and water supply revenue bonds to 'BBB+' from 'D' as S&P
indicated it would do in its report dated Aug. 28, 2014.  The
outlook is stable.

Standard & Poor's Ratings Services, on Sept. 4, 2013, lowered its
ratings on five CUSIPs of Detroit's outstanding sewerage disposal
and water supply revenue bonds to 'D' from 'CC', as S&P indicated
it would do in its report dated Aug. 28, 2014.


DETROIT, MI: Bankruptcy Legal Fees Hit $26 Million
--------------------------------------------------
Reuters reported that the law firm shepherding Detroit through the
biggest-ever municipal bankruptcy has charged the city just over
$26 million from July 2013 to March 2014.  According to Reuters,
citing a report from a court-appointed fee examiner, Jones Day,
the former law firm of Detroit's state-appointed emergency
manager, Kevyn Orr, billed $3 million in fees and nearly $83,000
in expenses in March.

                  About City of Detroit, Michigan

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

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

Michigan Governor Rick Snyder authorized the bankruptcy filing.

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

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

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

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

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

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

                           *     *     *

Standard & Poor's Ratings Services, on Sept. 5, 2014, raised its
ratings on five bond CUSIPs of Detroit's outstanding sewerage
disposal and water supply revenue bonds to 'BBB+' from 'D' as S&P
indicated it would do in its report dated Aug. 28, 2014.  The
outlook is stable.

Standard & Poor's Ratings Services, on Sept. 4, 2013, lowered its
ratings on five CUSIPs of Detroit's outstanding sewerage disposal
and water supply revenue bonds to 'D' from 'CC', as S&P indicated
it would do in its report dated Aug. 28, 2014.


DETROIT, MI: Stockton Acts as Template for Debt Plan
----------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that any opinion by U.S. Bankruptcy Judge
Christopher M. Klein on whether retirees and their pensions can be
treated better than bondholders and unsecured creditors will be
helpful or a challenge to distinguish if U.S. Bankruptcy Judge
Steven Rhodes in Michigan reaches an opposite result in Detroit's
Chapter 9 case.

According to the report, Franklin Resources Inc.'s high-yield bond
funds argue that the Stockton court can't confirm a plan with full
payment of the city's "massive" pre-bankruptcy liability for
unfunded pensions while approving a plan that "crams down" a sub-1
percent payment on Franklin.

The City of Stockton, California, filed a Chapter 9 petition
(Bankr. E.D. Cal. Case No. 12-32118) in Sacramento on June 28,
2012, becoming the largest city to seek creditor protection in
U.S. history.  The city was forced to file for bankruptcy after
talks with bondholders and labor unions failed.  Stockton
estimated more than $1 billion in assets and in excess of
$500 million in liabilities.

The city, with a population of about 300,000, identified the
California Public Employees Retirement System as the largest
unsecured creditor with a claim of $147.5 million for unfunded
pension costs.  In second place is Wells Fargo Bank NA as trustee
for $124.3 million in pension obligation bonds.  The list of
largest creditors includes $119.2 million owing on four other
series of bonds.

The city is being represented by Marc A. Levinson, Esq., and John
W. Killeen, Esq., at Orrick, Herrington & Sutcliffe LLP.  The
petition was signed by Robert Deis, city manager.

Mr. Levinson also represented the city of Vallejo, Cal. in its
2008 bankruptcy.  Vallejo filed for protection under Chapter 9
(Bankr. E.D. Cal. Case No. 08-26813) on May 23, 2008, estimating
$500 million to $1 billion in assets and $100 million to $500
million in debts in its petition.  In August 2011, Vallejo was
given green light to exit the municipal reorganization.   The
Vallejo Chapter 9 plan restructures $50 million of publicly held
debt secured by leases on public buildings.  Although the Plan
doesn't affect pensions, it adjusts the claims and benefits of
current and former city employees.  Bankruptcy Judge Michael
McManus released Vallejo from bankruptcy on Nov. 1, 2011.

The bankruptcy judge on April 1, 2013, ruled that the city of
Stockton is eligible for municipal bankruptcy in Chapter 9.


DEWEY & LEBOEUF: Executives Can't Appeal During Criminal Trial
--------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the three former top executives at Dewey &
LeBoeuf LLP, the defunct law firm, won't know until after their
criminal trial is over whether they must also stand trial in a
civil suit brought by Aviva Life & Annuity Co., a Des Moines,
Iowa-based insurance company.  According to the report, the U.S.
Court of Appeals in St. Louis refused to allow an appeal, without
giving a reason.

The Iowa lawsuit is Aviva Life & Annuity Co. v. Davis,
12-cv-00603, U.S. District Court, Southern District of Iowa (Des
Moines).  The attempted appeal was Aviva Life & Annuity Co. v.
Davis, 14-8016, U.S. Eighth Circuit Court of Appeals (St.
Louis).

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


DIGITAL DOMAIN: Panel Says Fla. Tax Credits Belong to Estate
------------------------------------------------------------
Law360 reported that the Official Committee of Unsecured Creditors
appointed in Digital Domain Media Group Inc.'s Chapter 11 cases
urged a Delaware bankruptcy judge to decline Florida's challenge
and protect at least $2 million in tax credits as part of the
debtor's estate.  According to the report, in its objection, the
Official Committee of Unsecured Creditors of DDMG Estate
challenged the Florida Department of Economic Opportunity's Aug. 1
motion that claimed $20 million in tax credits DDMG applied for
weren't part of the debtor's estate because the company never met
the conditions for final approval.

                        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.


EAGLE BULK: Files Plan Supplement; Hearing on Sept. 18
------------------------------------------------------
Eagle Bulk Shipping Inc., filed with the Bankruptcy Court a Plan
Supplement for its Prepackaged Plan of Reorganization.

A combined hearing will be held on Sept. 18, 2014 at 10:00 a.m.,
to consider the adequacy of the Disclosure Statement and
confirmation of the Plan.

The Debtor related that on the Petition Date, it filed a
Prepackaged Plan and the Disclosure Statement, which required the
Debtor to file certain additional documents as supplements.

According to the Debtor, these documents that comprise the Plan
Supplement are subject to continued review and modification, which
modifications may be both material and substantial:

   -- Exhibit A: New Eagle Charter
   -- Exhibit B: New Eagle By-Laws
   -- Exhibit C: New Eagle Equity Warrant Agreement
   -- Exhibit D: Registration Rights Agreement
   -- Exhibit E: Management Incentive Program
   -- Exhibit F: New Eagle MIP Primary Equity Agreements
   -- Exhibit G: New Eagle MIP Option Agreements
   -- Exhibit H: Identity and Affiliations of the Officers and
                 Members of the New Board of the Reorganized
                 Debtor
   -- Exhibit I: New CEO Employment Agreement
   -- Exhibit J: Exit Financing Facility Documents
   -- Exhibit K: Delphin Management Agreement
   -- Exhibit L: Rejection Schedule
   -- Exhibit M: List of Retained Causes of Action

A copy of the supplements is available for free at:

     http://bankrupt.com/misc/EagleBulk_54_plansupplement.pdf

                     About Eagle Bulk Shipping

With headquarters in New York, Eagle Bulk Shipping Inc. (Nasdaq:
EGLE) provides ocean-borne transportation services for a broad
range of major and minor "dry bulk" cargoes, including iron ore,
coal, grain, cement, and fertilizer, along worldwide shipping
routes.  Each of Eagle's 45 vessels is flagged in the Marshall
Islands and owned by a separate wholly-owned subsidiary organized
as a limited liability company under the Marshall Islands.

On Aug. 6, 2014, Eagle Bulk entered into a restructuring support
agreement with certain of its lenders regarding the terms of a
balance sheet restructuring that will reduce debt by $975 million.

To implement the restructuring, Eagle Bulk, the parent company,
commenced a voluntary "prepackaged" chapter 11 case (Bankr.
S.D.N.Y. Case No. No. 14-12303).  The case has been assigned to
the Honorable Sean H. Lane.  The Chapter 11 filing does not
include any of Eagle Bulk's operating or management subsidiaries.

The Company estimated $850 million to $950 million in assets and
debt of $1.21 billion as of the Petition Date.

The Company has tapped Tyson M. Lomazow, Esq., and Matthew Brod,
Esq., at Milbank, Tweed, Hadley & McCloy LLP as general bankruptcy
counsel, Moelis & Company as financial advisor and investment
banking advisor, Alvarez & Marsal as restructuring advisors, and
PricewaterhouseCoopers LLP as its accountant and auditor.  Eagle
Bulk's noticing agent is Kurtzman Carson Consultants.

Wilmington Trust (London) Limited, solely in its capacity as
successor agent and security trustee under a 2012 credit
agreement, is represented by Andrew Rosenberg, Esq., at Paul Weiss
Rifkind Wharton & Garrison LLP.


EAGLE BULK: Seeks Court Approval to Assume Modified RSA
-------------------------------------------------------
Eagle Bulk Shipping Inc., requests the Bankruptcy Court to enter
an order:

   (i) authorizing the Debtor to assume the Restructuring Support
Agreement, dated as of Aug. 6, 2014 (as amended), by and among the
Debtor and each of its direct and indirect non-debtor subsidiaries
and certain lenders to the Prepetition Credit Agreement; and

  (ii) approving the terms and conditions of the RSA Fee.

The Debtor related that after months of intensive, good faith,
arm's-length negotiations, on Aug. 6, 2014, Eagle entered into the
RSA with Consenting Lenders collectively holding over 85% of the
outstanding loans under that certain Fourth Amended and Restated
Credit Agreement, dated as of June 20, 2012, and constituting more
than two-thirds of the lenders under the Prepetition Credit
Agreement.

The RSA establishes the framework and support for the Debtor's
Prepackaged Plan that will dramatically deleverage the Debtor's
financial obligations, provide immediate new liquidity through an
Exit Financing Facility, and position Eagle for future growth in
the dry bulk shipping industry.

The RSA also paves the way for the settlement embodied in the Plan
that will allow the Debtor to exit chapter 11 expeditiously,
thereby preserving business operations and providing the best
available opportunity for the Debtor to maximize value for its
estate.

Assumption of the RSA ensures that the agreement that forms the
foundation for the Debtor's consensual restructuring continues to
be valid and enforceable against all signatories and continues to
provide the Debtor with the benefits it bargained for thereunder,
namely, a deleveraged balance sheet, debtor in possession and exit
financing credit facilities, and an opportunity for all
stakeholders to maximize recoveries while permitting the Debtor's
global business to proceed swiftly toward confirmation and emerge
from bankruptcy as a healthier and more viable company.

The Debtors relate that the Plan provides for, among other things:

   i) Prepetition Credit Facility Lenders, owed $1.2 billion, will
receive 99.5% of the New Eagle Common Stock and the Prepetition
Credit Facility Cash Distribution;

  ii) all General Unsecured Claims will be paid in full;

iii) Equity Interests will be canceled and holders of such Equity
Interests will receive 0.5% of the New Eagle Common Stock and the
New Eagle Equity Warrants, representing 7.5% of the New Eagle
Common Stock;

  iv) the establishment of a Management Incentive Program that
provides senior management and certain employees with 2.0% of the
shares of New Eagle Common Stock and two tiers of stock options;
and

   v) entry into the Exit Financing Facility Credit Agreement, the
proceeds of which will be used to pay (a) the obligations under
the Debtor's contemplated debtor-in-possession financing facility,
the Prepetition Credit Facility Cash Distribution, the Outstanding
Trade Obligations, and the Restructuring Expenses, and (b)
following the payment, or reserving for the payment, of each the
foregoing, any amount necessary to fully fund a working capital
reserve of $72.5 million.

Eagle Bulk sought Chapter 11 protection with the support of the
majority of its lenders for a plan to cut $975 million in debt
from its balance sheet.

As of August 7, 2014, the Company has already received affirmative
votes for the Plan from lenders holding more than 85% of the loans
outstanding under its credit agreement, constituting more than
two-thirds of the total lenders thereunder, amounts sufficient
under applicable law for the Court to confirm the Plan.

The Debtor is represented by:

         Paul S. Aronzon, Esq.
         Haig M. Maghakian, Esq.
         MILBANK, TWEED, HADLEY & MCCLOY LLP
         601 S. Figueroa St., 30th Floor
         Los Angeles, CA 90017
         Tel: (213) 892-4000

              - and -

         Tyson M. Lomazow, Esq.
         Matthew Brod, Esq.
         MILBANK, TWEED, HADLEY & MCCLOY LLP
         One Chase Manhattan Plaza
         New York, NY 10005
         Tel: (212) 530-5000

                     About Eagle Bulk Shipping

With headquarters in New York, Eagle Bulk Shipping Inc. (Nasdaq:
EGLE) provides ocean-borne transportation services for a broad
range of major and minor "dry bulk" cargoes, including iron ore,
coal, grain, cement, and fertilizer, along worldwide shipping
routes.  Each of Eagle's 45 vessels is flagged in the Marshall
Islands and owned by a separate wholly-owned subsidiary organized
as a limited liability company under the Marshall Islands.

On Aug. 6, 2014, Eagle Bulk entered into a restructuring support
agreement with certain of its lenders regarding the terms of a
balance sheet restructuring that will reduce debt by $975 million.

To implement the restructuring, Eagle Bulk, the parent company,
commenced a voluntary "prepackaged" chapter 11 case (Bankr.
S.D.N.Y. Case No. No. 14-12303).  The case has been assigned to
the Honorable Sean H. Lane.  The Chapter 11 filing does not
include any of Eagle Bulk's operating or management subsidiaries.

The Company estimated $850 million to $950 million in assets and
debt of $1.21 billion as of the Petition Date.

The Company has tapped Tyson M. Lomazow, Esq., and Matthew Brod,
Esq., at Milbank, Tweed, Hadley & McCloy LLP as general bankruptcy
counsel, Moelis & Company as financial advisor and investment
banking advisor, Alvarez & Marsal as restructuring advisors, and
PricewaterhouseCoopers LLP as its accountant and auditor.  Eagle
Bulk's noticing agent is Kurtzman Carson Consultants.

Wilmington Trust (London) Limited, solely in its capacity as
successor agent and security trustee under a 2012 credit
agreement, is represented by Andrew Rosenberg, Esq., at Paul Weiss
Rifkind Wharton & Garrison LLP.


EAGLE BULK: Files Schedules of Assets and Liabilities
-----------------------------------------------------
Eagle Bulk Shipping Inc., filed with the U.S. Bankruptcy Court for
the Southern District of New York its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property            $5,401,396
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                            $1,188,847,632
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                                $0
                                 -----------      -----------
        Total                     $5,401,396*  $1,188,847,632*

* plus undetermined amount

Bankruptcy Judge Sean H. Lane had extended the deadline for the
Debtor to file its schedules of assets and liabilities and
statement of financial affairs until Sept. 3.

A copy of the schedules is available for free at:

     http://bankrupt.com/misc/EagleBulk_57_SALs.pdf

                     About Eagle Bulk Shipping

With headquarters in New York, Eagle Bulk Shipping Inc. (Nasdaq:
EGLE) provides ocean-borne transportation services for a broad
range of major and minor "dry bulk" cargoes, including iron ore,
coal, grain, cement, and fertilizer, along worldwide shipping
routes.  Each of Eagle's 45 vessels is flagged in the Marshall
Islands and owned by a separate wholly-owned subsidiary organized
as a limited liability company under the Marshall Islands.

On Aug. 6, 2014, Eagle Bulk entered into a restructuring support
agreement with certain of its lenders regarding the terms of a
balance sheet restructuring that will reduce debt by $975 million.

To implement the restructuring, Eagle Bulk, the parent company,
commenced a voluntary "prepackaged" chapter 11 case (Bankr.
S.D.N.Y. Case No. No. 14-12303).  The case has been assigned to
the Honorable Sean H. Lane.  The Chapter 11 filing does not
include any of Eagle Bulk's operating or management subsidiaries.

The Company estimated $850 million to $950 million in assets and
debt of $1.21 billion as of the Petition Date.

The Company has tapped Tyson M. Lomazow, Esq., and Matthew Brod,
Esq., at Milbank, Tweed, Hadley & McCloy LLP as general bankruptcy
counsel, Moelis & Company as financial advisor and investment
banking advisor, Alvarez & Marsal as restructuring advisors, and
PricewaterhouseCoopers LLP as its accountant and auditor.  Eagle
Bulk's noticing agent is Kurtzman Carson Consultants.

Wilmington Trust (London) Limited, solely in its capacity as
successor agent and security trustee under a 2012 credit
agreement, is represented by Andrew Rosenberg, Esq., at Paul Weiss
Rifkind Wharton & Garrison LLP.


EAGLE BULK: Hires PricewaterhouseCoopers as Auditors & Consultants
------------------------------------------------------------------
Eagle Bulk Shipping Inc. seeks authorization from the U.S.
Bankruptcy Court for the Southern District of New York to employ
PricewaterhouseCoopers LLP as independent auditors and tax
consultants, nunc pro tunc to the Aug. 6, 2014 petition date.

Pursuant the engagement letter between the Debtor and PwC dated as
of July 15, 2014, PwC has provided, and will continue to provide,
the Debtor with certain auditing services relating to the Debtor's
2014 yearend audit, subject to Court approval, including the
following:

   (a) auditing the consolidated financial statements of the
       Debtor at Dec. 31, 2014 and for the year then ending, and
       providing the Debtor with an audit report related to those
       financial statements;

   (b) communicating with the audit committee and management about
       any matters that PwC believes may require material
       modifications to the quarterly financial information to
       make it conform with accounting principles generally
       accepted in the United States;

   (c) examining evidence supporting the amounts and disclosures
       in the financial statements, assessing accounting
       principles used and significant estimates made by
       management, and evaluating the overall financial
       statement presentation; and

   (d) considering the Debtor's internal control over financial
       reporting for the purposes of determining the nature,
       timing and extent of auditing procedures necessary for PwC
       to express their opinion on the financial statements.

Furthermore, subject to Court approval, PwC will provide certain
tax compliance and consulting services to the Debtor, pursuant to
that certain engagement letter between the Debtor and PwC dated as
of Feb. 19, 2014, including the following:

   (a) preparing the Debtor's U.S. Corporation Income Tax Return
       for the tax year beginning Jan. 1, 2013 through Dec. 31,
       2013, as well as preparing state corporate tax returns as
       requested by the Debtor; and

   (b) providing recurring tax consulting services, including,
       answers to questions on federal, state, local, and
       international tax matters and providing assistance with
       respect to matters involving the Internal Revenue Service.

The Debtor will compensate PwC in accordance with the terms and
conditions of the Engagement Letters, which provide a compensation
structure (the "Fee and Expense Structure") in relevant part as
follows:

   -- Audit Services - Prior to the Petition Date, the Debtor paid
      PwC $300,000 pursuant to the Audit Engagement Letter for
      Audit Services.  PwC is entitled to an additional fee in the
      amount of $447,500 pursuant to the Audit Services Engagement
      Letter.  Any supplemental time incurred by PwC will be
      billed at $230 per hour.  The use of National Office and
      other specialists will be billed at 80% recovery rate.

   -- Tax Compliance Services - For tax compliance services, PwC
      will charge fees not to exceed $26,000.

   -- Tax Consulting Services - For tax consulting services, PwC
      will charge the Debtor on an hourly rate schedule as
      follows:

            Partner/Principal        $620
            Senior Associate         $320
            Associate                $225

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

The Debtor paid PwC fees and expenses aggregating $360,000 in the
90 days prior to the Petition Date.

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

PwC can be reached at:

       Andre Chabanel
       PRICEWATERHOUSECOOPERS LLP
       300 Madison Avenue
       New York, NY 10017
       Tel: (973) 236-4549
       Fax: (813) 741-5475
       E-mail: andre.chanabel@us.pwc.com

                    About Eagle Bulk Shipping

With headquarters in New York, Eagle Bulk Shipping Inc. (Nasdaq:
EGLE) provides ocean-borne transportation services for a broad
range of major and minor "dry bulk" cargoes, including iron ore,
coal, grain, cement, and fertilizer, along worldwide shipping
routes.  Each of Eagle's 45 vessels is flagged in the Marshall
Islands and owned by a separate wholly-owned subsidiary organized
as a limited liability company under the Marshall Islands.

On Aug. 6, 2014, Eagle Bulk entered into a restructuring support
agreement with certain of its lenders regarding the terms of a
balance sheet restructuring that will reduce debt by $975 million.

To implement the restructuring, Eagle Bulk, the parent company,
commenced a voluntary "prepackaged" chapter 11 case (Bankr.
S.D.N.Y. Case No. No. 14-12303).  The case has been assigned to
the Honorable Sean H. Lane.  The Chapter 11 filing does not
include any of Eagle Bulk's operating or management subsidiaries.

The Company estimated $850 million to $950 million in assets and
debt of $1.21 billion as of the Petition Date.

The Company has tapped Tyson M. Lomazow, Esq., and Matthew Brod,
Esq., at Milbank, Tweed, Hadley & McCloy LLP as general bankruptcy
counsel, Moelis & Company as financial advisor and investment
banking advisor, Alvarez & Marsal as restructuring advisors, and
PricewaterhouseCoopers LLP as its accountant and auditor.  Eagle
Bulk's noticing agent is Kurtzman Carson Consultants.

Wilmington Trust (London) Limited, solely in its capacity as
successor agent and security trustee under a 2012 credit
agreement, is represented by Andrew Rosenberg, Esq., at Paul Weiss
Rifkind Wharton & Garrison LLP.


ERF WIRELESS: Sells 11.4% Equity Stake
--------------------------------------
From Sept. 5, 2014, through Sept. 12, 2014, ERF Wireless, Inc.,
issued 1,070,000 common stock shares pursuant to Convertible
Promissory Notes, according to a regulatory filing with the U.S.
Securities and Exchange Commission.  The Shares were issued at an
average of $0.053 per share.  The issuance of the Shares
constitutes 11.4% of the Company's issued and outstanding shares
based on 9,366,523 shares issued and outstanding as of Sept. 4,
2014.

                        About ERF Wireless

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

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

The Company's balance sheet at June 30, 2014, showed $3.59 million
in total assets, $11.69 million in total liabilities and a $8.10
million total shareholders' deficit.


EVERGREEN SKILLS: Moody's Lowers Rating on 1st Lien Debt to B2
--------------------------------------------------------------
Moody's Investors Service downgraded Evergreen Skills Lux S.a.
r.l.'s 1st lien credit facility ratings to B2 from B1 and changed
the company's ratings outlook to negative from stable. The
company's 1st lien credit facility consists of a $100 million
revolver and a $1,415 million (upsized from $900 million) term
loan. Concurrently, Moody's affirmed Evergreen Skills' B3
corporate family rating ("CFR"), B3-PD probability of default
rating ("PDR") and Caa2 rating for the $670 million (upsized from
$485 million) 2nd lien term loan.

Proceeds from the incremental $700 million 1st and 2nd lien term
loans will be utilized to fund the proposed acquisition of
SumTotal Systems, Inc. ("SumTotal") by Evergreen Skills'
subsidiary Skillsoft Corporation, pay current outstanding amounts
under the existing Evergreen Skills revolving credit facility and
transaction fees/expenses.

The downgrade of the 1st lien credit facility ratings to B2 is
consistent with Moody's Loss Given Default ("LGD") methodology and
reflects the change in mix within the company's capital structure
which is now more heavily weighted towards 1st lien debt relative
to the pre-acquisition capital structure.

The change in outlook to negative from stable reflects Evergreen
Skills' aggressive use of debt -- first to fund its April 2014
leveraged buyout by funds managed by Charterhouse Capital Partners
LLP ("the sponsor") and then shortly thereafter -- to fund the
proposed SumTotal acquisition. Pro-forma leverage, as measured by
Moody's adjusted debt to EBITDA for the LTM period ended July 31,
2014 will be approximately 9.0 times, which is around the same
level as that at the time of the April 2014 LBO transaction.

While Moody's previously expected Evergreen Skills to approach the
7.0 times leverage level within the next 12 to 18 months, the risk
that the deleveraging process will now be slower is higher given
the contingent earn out payment of about $65 million (payable in
cash or equity; based on attaining certain performance measures),
potential operating performance disruptions as the two businesses'
sales organizations and back-office operations integrate, and as
the Evergreen Skills' customer base transitions over to SumTotal's
technology platform.

The affirmation of Evergreen Skills' B3 CFR reflects the
complementary nature of the proposed acquisition as it combines
the company's well regarded e-learning product and content
portfolio with the comprehensive and integrated Human Capital
Management ("HCM") offerings of SumTotal in the learning, talent
and workforce management space. Besides the combined entity's
potential for generating revenue synergies through cross-selling
e-learning content to HCM customers (and vice-versa), and
enhancing customer stickiness (by becoming more deeply embedded in
the client's human resources systems and processes), the
standalone (no revenue synergy) combination of the two companies
itself (barring any unforeseen issues mentioned above) is expected
to result in strong future free cash flows (estimated in the mid-
single digits as a percentage of pro forma debt) and moderate
EBITDA less capex coverage of interest of about 1.7 times (Moody's
adjusted basis), which is supportive of the B3 CFR.

The following summarizes the rating activity:

Issuer: Evergreen Skills Lux S.a.r.l.

Ratings lowered:

$100 million first lien senior secured revolving credit facility
due 2019 to B2 (LGD3) from B1 (LGD3)

$1,415 million (upsized) first lien senior secured term loan due
2021 to B2 (LGD3) from B1 (LGD3)

Ratings affirmed:

Corporate Family Rating at B3

Probability of default rating at B3-PD

$670 million (upsized) second lien senior secured term loan due
2022 at Caa2 (LGD5)

Outlook: changed to Negative from Stable

Ratings Rationale

The B3 corporate family rating reflects Evergreen Skill's high pro
forma financial leverage of about 9.0 times (as measured by
Moody's adjusted debt to EBITDA for LTM July 31, 2014) and
moderate EBITDA less capex coverage of interest of about 1.7
times. The rating also incorporates heightened execution risks
with respect to the SumTotal acquisition, and while positive
consideration is given to the company's demonstrated track record
of successful integration of prior moderate sized acquisitions,
the rating also recognizes that the SumTotal acquisition is
sizeable and could potentially lead to management distraction and
technology integration issues. The B3 rating also reflects
Evergreen Skills' reduced financial flexibility (with respect to
servicing an increased debt load) in case of unforeseen
performance downturns or execution missteps. Furthermore, the
rating recognizes the highly competitive nature of the Human
Capital Management ("HCM") market as well as the enterprise e-
learning market (which comprises a majority of the combined
business) and has low barriers to entry in addition to relatively
discretionary demand drivers.

However, the B3 rating derives support from Evergreen Skill's
business model which enables strong free cash flow generation due
to predictable revenues generated under contracts, with high
renewal rates, solid EBITDA margins, flexible cost structure and
low capital expenditure requirements. The enhanced scale (as a
result of the SumTotal acquisition) of the business, more
diversified product offerings, as well as the eventual transition
of Evergreen Skills' e-learning content and products over to a
contextual and open HCM technology platform improves the company's
competitive position. Furthermore, the combined entity's potential
for generating revenue synergies through cross-selling e-learning
content to HCM customers (and vice-versa), and enhancing customer
stickiness (by becoming more deeply embedded in the client's human
resources systems and processes including talent and workforce
management) provides further support to the ratings. Evergreen
Skills' credit profile benefits from the combined large and highly
diversified customer base consisting of enterprise & small and
medium businesses ("SMB"), as well as organic growth opportunities
within its core business segments like compliance.

The negative outlook reflects Evergreen Skills' aggressive use of
debt and the company's elevated financial risk profile over the
next 12 to 18 months resulting in reduced financial flexibility
with regards to servicing an increasing debt load in the case of
unforeseen performance downturns or execution missteps.

Moody's could stabilize Evergreen Skills' ratings outlook if the
company maintains good earnings growth and leverage (Moody's
adjusted basis) declines and is expected to remain below 8.0
times. While a rating upgrade over the near term is highly
unlikely given the company's high pro-forma financial leverage and
acquisitive growth strategy, Moody's could consider an upgrade if
the company demonstrates sustained organic revenue growth (at
least in the mid single digit percentages) with increasing
profitability, generates consistently positive free cash flow and
improves credit metrics such that Moody's come to expect debt to
EBITDA to be sustained below 7.0 times and free cash flow to debt
in the high single digit range, respectively. A ratings upgrade
would also require Evergreen Skills to successfully integrate the
SumTotal acquisition without any material issues and further
improve its liquidity profile.

Evergreen Skill's ratings could be pressured by a sustained
decline in revenues or EBITDA resulting from competitive
challenges, material integration issues (with respect to SumTotal)
or weak business execution. Specifically, if Moody's come to
expect that the company will not be able to sustain positive free
cash flow, or if the company's liquidity situation deteriorates, a
downgrade is possible.

The principal methodology used in this rating was Global Software
Industry published in October 2012. Other methodologies used
include Loss Given Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published in June 2009.

Evergreen Skills provides on-demand e-learning and performance
support solutions for global enterprises, government, education
and small to medium-sized businesses. For the last twelve month
period ended July 31, 2014, the company reported approximately
$426 million in revenues under U.S. GAAP.


EXIDE TECH: Alvarez & Marsal's Lewis Named Vernon Project Manager
-----------------------------------------------------------------
The Hon. Kevin J. Carey of the U.S. Bankruptcy Court for the
District of Delaware authorized Exide Technologies to supplement
the employment of Alvarez & Marsal North America LLC to:

   i) provide the Debtor with a project manager for its Vernon,
      California facility; and

  ii) designate Bob Lewis -- rlewis@alvarezandmarsal.com -- as
      the Vernon Project Manager.

As reported in the Troubled Company Reporter on Aug. 27, 2014, the
Vernon Project Manager will assume an executive officer position
with Exide and provide project management oversight of various
workstreams at its Vernon Facility including:

  a) Coordination and oversight of the implementation of the risk
     reduction plan at the Vernon Facility;

  b) Coordination and the oversight of the permit application
     process with the Department of Toxic Substances Control;

  c) Coordination and the oversight of the implementation of the
     soil sampling project with the Department of Toxic Substances
     Control;

  d) Coordination and the oversight of community relations and
     media outreach plans related to the Vernon Facility;

  e) Development and maintenance of a project room to centralize
     and coordinate the workstreams;

  f) Coordination of key stakeholder communications, meetings,
     monthly compliance reporting, and site visits; and

  g) Coordination with and support of Exide's legal team in
     connection with Vernon matters.

The Debtor has agreed to compensate the firm $455 per hour in
consideration for Mr. Lewis serving as the Vernon Project Manager.

Robert Caruso, Managing Director of the firm, assured the Court
that the firm is a "disinterested person" within the meaning of
Section 101(14) of the Bankruptcy Code.

                    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.


FLAVORS HOLDINGS: Moody's Assigns 'B2' Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service, assigned a first time B2 Corporate
Family Rating ("CFR") to Flavors Holdings Inc. ("Flavors Holdings"
or "Flavors"), the holding company for operating subsidiaries
Mafco Worldwide Corporation ("Mafco") Merisant Company
("Merisant"), which will be acquired as part of the transaction.
Moody's also assigned a B2 rating to the company's new $50 million
senior secured first lien revolving credit facility expiring in
2019, a B2 rating to the company's new $365 million senior secured
first lien term loan maturing in 2020, and a Caa1 rating to the
company's new $75 million senior secured second lien term loan
maturing in 2021. Proceeds from the facilities are being used to
finance Flavors Holdings' acquisition of Merisant and refinance
outstanding debt obligations at Mafco. Ratings are subject to
Moody's satisfactory review of the final documentation. The rating
outlook is stable.

The following ratings are assigned to Flavors Holdings Inc.:

-- Corporate Family rating at B2;

-- Probability of Default Rating at B2-PD;

-- $50 million senior secured first lien revolving credit
    facility expiring 2019 at B2 (LGD 3);

-- $365 million senior secured first lien term loan maturing
    2020 at B2 (LGD 3);

-- $75 million senior secured second lien term loan maturing
    2021 at Caa1 (LGD 6);

-- The rating outlook is stable.

Ratings Rationale

Flavors Holdings' B2 Corporate Family Rating reflects the
company's small scale, niche product categories with varying
degrees of growth potential, high financial leverage, and Moody's
expectation of an aggressive financial policy. These factors are
partially offset by the combined company's still strong profit
margins, despite a long term decline in profitability of the Mafco
business, and good geographic diversification. The company's
liquidity is good. Moody's expects Flavors to be able to fund its
cash obligations over the next year through internally generated
cash flow without needing to draw on its revolving credit facility
after repaying an initial draw to help fund the Merisant
acquisition. The B2 rating on the first lien credit facilities and
the Caa1 rating on the second lien credit facility reflect the
expected security, capital and guarantee structure at closing,
based upon Moody's review of preliminary documentation. To the
extent that enhancements to the security or guarantee structure
take place after closing, the instrument ratings could on the
first lien facilities could be lifted (or upgraded) by one notch.

The stable outlook reflects Moody's expectation for continued
strong profitability and cash flow that will support delevering
despite pressure on top-line growth in some of its categories. The
stable outlook also reflects Moody's expectation that the company
will maintain adequate liquidity and will not engage in any debt
financed acquisitions or shareholder distributions.

Flavors Holdings' ratings could be downgraded if profitability
were to deteriorate due to changing market dynamics such as
increased competition or long term sales declines if its products
fall out of favor with consumers. A downgrade could also occur if
margins decline on a sustained basis or if the company fails to
generate positive free cash flow. A deterioration in liquidity or
any large debt financed acquisitions or shareholder distributions
could also lead to a downgrade.

Though an upgrade is unlikely in the near term, Flavors Holdings'
ratings could be upgraded if the company meaningfully increases
its scale and product diversity, improves margins and sustains
Debt/EBITDA below 4.5 times.

Flavors Holdings Inc., is the holding company for operating
subsidiaries Mafco Worldwide Corporation ("Mafco") and Merisant
Company ("Merisant"). Mafco is a manufacturing and trading company
engaged in the licorice extract and derivatives business, and
Merisant markets and distributes low-calorie table top sweeteners
primarily under the Canderel, Equal and Pure Via brands to retail
and foodservice customers globally. Flavors Holdings is indirectly
owned by MacAndrews & Forbes Holdings Inc. ("M&F). Pro forma
revenue for the combined companies was around $365 million for the
twelve months ended June 30, 2014.

The principal methodology used in this rating was the Global
Packaged Goods published in June 2013. Other methodologies used
include Loss Give Default for Speculative-Grade Non-Financial
Companies in the U.S., Canada and EMEA published June 2009.


FLINTKOTE COMPANY: Plan Filing Date Extended to Feb. 2015
---------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware issued a 28th order extending the period
during which The Flintkote Company and Flintkote Mines Limited
have the exclusive right to file a Chapter 11 plan of
reorganization through the earlier of (a) Feb. 28, 2015, and (b)
the effective date of the Plan, and the period during which they
have exclusive right to solicit acceptances of that plan through
the earlier of (a) April 30, 2015, and (b) the effective date of
the Plan.

                    About The Flintkote Company

Headquartered in San Francisco, California, The Flintkote Company
is engaged in the business of manufacturing, processing and
distributing building materials.  Flintkote Mines Limited is a
subsidiary of Flintkote Company and is engaged in the mining of
base-precious metals.  The Flintkote Company filed for Chapter 11
protection (Bankr. D. Del. Case No. 04-11300) on April 30, 2004.
Flintkote Mines Limited filed for Chapter 11 relief (Bankr. D.
Del. Case No. 04-12440) on Aug. 25, 2004.  Kevin T. Lantry, Esq.,
Jeffrey E. Bjork, Esq., Dennis M. Twomey, Esq., Jeremy E.
Rosenthal, Esq., and Christina M. Craige, Esq., at Sidley Austin,
LLP, in Los Angeles; James E. O'Neill, Esq., and Laura Davis
Jones, Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington,
Del., represent the Debtors in their restructuring efforts.

Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, N.Y.; Peter Van N. Lockwood, Esq., Ronald E. Reinsel, Esq.,
at Caplin & Drysdale, Chartered, in Washington, D.C.; and Philip
E. Milch, Esq., at Campbell & Levine, LLC, in Wilmington, Del.,
represent the Asbestos Claimants Committee as counsel.

James J. McMonagle, is the legal representative for future
claimants.  The FCR has retained Dr. Timothy Wyant as claims
evaluation consultant.  The FCR is represented by James L.
Patton, Jr., Esq., and Edwin J. Harron, Esq., at Young Conaway
Stargatt & Taylor, LLP; and Reginald W. Jackson, Esq., at Vorys,
Sater, Seymour & Pease LLP.

When Flintkote filed for protection from its creditors, it
estimated more than $100 million each in assets and debts.  When
Flintkote Mines Limited filed for protection from its creditors,
it estimated assets of $1 million to $50 million, and debts of
more than $100 million.

The Debtors' Chapter 11 cases have been re-assigned to Judge Mary
F. Walrath in line with the retirement of former Bankruptcy
Judge Judith Fitzgerald.


GARLOCK SEALING: Oct. 7-8 Hearing to Approve Plan Outline
---------------------------------------------------------
Garlock Sealing Technologies LLC, Garrison Litigation Management
Group, Ltd. and The Anchor Packing Company filed with the U.S.
Bankruptcy Court for the Western District of North Carolina their
first amended plan of reorganization and disclosure statement
dated May 29, 2014.

The hearing to consider approval of the Disclosure Statement will
be held on October 7, 2014, at 9:30 a.m., and if necessary,
October 8, 2014, at 9:30 a.m.  The deadline to file responses to
objections to the Disclosure Statement is on September 24, 2014.

The Plan provides the vesting of the assets and property of the
Debtors in the appropriate Reorganized Debtors, which assets and
property will be free and clear of all Claims, liens, and
interests except as otherwise specifically provided in the Plan
and the Confirmation Order.

There are 13 Classes of Claims and Interests under the Plan.  The
non-asbestos related Classes of Claims and Interests include
Priority Claims (Class 1), Secured Claims (Class 2), General
Unsecured Claims (Class 7), Convenience Class Claims (Class 8),
Anchor Claims (Class 9), Intercompany Claims (Class 10), GST
Equity Interests (Class 11), Garrison Equity Interests (Class 12)
and Anchor Equity Interests (Class 13).  Convenience Class Claims
may include GST Asbestos Claims and Anchor Claims may include both
asbestos-related and non-asbestos-related Claims against Anchor.

Claims in Classes 1, 2, 7, 8, and 10 are unimpaired because
Holders of those Claims, if Allowed, will be paid in full, in
Cash, plus any accrued interest at the applicable legal rate of
interest.  Anchor Claims in Class 9 will receive nothing because
Anchor, which has no material property, will be liquidated and
dissolved.

The asbestos-related Classes of Claims include Settled GST
Asbestos Claims (Class 3), Current GST Asbestos Claims (Class 4),
Future GST Asbestos Claims (Class 5), and Pre-Petition Judgment
GST Asbestos Claims (Class 6).  Claims in each of these Classes
are unimpaired because Holders of these Claims, if Allowed, will
be paid in full, in Cash, pursuant to the Plan, Claims Resolution
Procedures, and Case Management Order, as applicable.

Equity Interests in Classes 11 and 12 will be extinguished and
those are impaired.  The Equity Interest in Class 13 will be
retained and is unimpaired.

The estimated amount of Allowed Claims in each Class is:

                                         Estimated Amount
Classification                         of Allowed Claims
--------------                         -----------------
Class 1 Priority Claims                          $70,000

Class 2 Secured Claims                          $250,000

Class 3 Settled GST Asbestos Claims    $3.1-16.4 million

Class 4 Current GST Asbestos Claims                  TBD

Class 5 Future GST Asbestos Claims                   TBD

Class 6 Pre-Petition Judgment GST
         Asbestos Claims                     $0-3 million

Class 7 General Unsecured Claims           $3.75 million

Class 8 Convenience Class Claims                     TBD

Class 9 Anchor Claims                                TBD

Class 10 Intercompany Claims                         TBD

Class 11 GST Equity Interests                        N/A

Class 12 Garrison Equity                             N/A

Class 13 Anchor Equity Interests                     N/A

A copy of the Disclosure Statement is available for free at:

   http://bankrupt.com/misc/GarlockSealing_AmdDS_05292014.pdf

                      About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his co-
counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the liability for present and future mesothelioma
claims against EnPro Industries' Garlock Sealing Technologies LLC
subsidiary at $125 million, consistent with the positions GST put
forth at trial.


GARLOCK SEALING: Wants to Establish Plan Solicitation Procedures
----------------------------------------------------------------
Garlock Sealing Technologies LLC, et al., ask the U.S. Bankruptcy
Court for the Western District of North Carolina for an order:

   (1) establishing procedures for solicitation and tabulation of
       votes to accept or reject the Debtors' First Amended Plan
       of Reorganization, dated May 29, 2014;

   (2) approving forms of Ballots;

   (3) approving the form and content of notice, and the manner
       of giving notice; and

   (4) establishing dates and deadlines in connection with
       confirmation of the Plan.

The Debtors propose criteria for temporary allowance that are
already embodied in the Court's estimation opinion entered on
January 10, 2014, estimating the Debtors' aggregate liability --
finding $25 million to be a reasonable and reliable estimate of
Garlock's aggregate liability to pending mesothelioma claimants,
and $100 million to future mesothelioma claimants.

The Debtors do not seek a bar date for GST Asbestos Claims other
than Settled GST Asbestos Claims but the Debtors propose that
claimants, who wish to vote, file ballots that will serve as both
their proofs of claim and ballots.

Garland S. Cassada, Esq., at Robinson Bradshaw & Hinson, P.A., in
Charlotte, North Carolina -- gcassada@rbh.com -- explains that
this process will not initiate mass adjudication of contingent and
disputed GST Asbestos Claims.  Instead, he notes, it will permit
temporary allowance of GST Asbestos Claims (and other claims) for
voting purposes only, enabling a vote on the Plan in the event the
Court determines that any class of claims is impaired or that the
vote is otherwise relevant to confirmation.

The Debtors also propose a comprehensive notice program that will
afford due process to all claimants.  The Debtors will give notice
of the Plan, the solicitation, and claimants' opportunity to
object to confirmation of the Plan.  The Debtors will provide
notice by publication to unknown GST Asbestos Claimants.

The Debtors further propose in the Confirmation Procedures Order a
schedule that would result in a Confirmation Hearing in July 2015.
The Debtors propose that the Balloting Agent distribute
Solicitation Packages in the manner required by the Notice Program
on or before the date that is 30 calendar days after the date on
which the Court enters an order approving the adequacy of the
Disclosure Statement.

The Debtors request that the Court set the deadline for ballots to
be received by the Balloting Agent for 150 days after entry of the
Disclosure Statement Order.  Prior to the Confirmation Hearing,
the Debtors would have the opportunity to file objections to the
temporary allowance for voting purposes of any claim, as not
meeting the criteria for temporary allowance in the Voting
Procedures, and notice a hearing no later than 45 days prior to
the Confirmation Hearing.

The hearing to consider approval of the solicitation and
confirmation procedures will be held on October 7, 2014, at 9:30
a.m., and if necessary, October 8, 2014, at 9:30 a.m.

The deadline to file responses to objections to the Solicitation
Procedures Motion is on September 24, 2014.

                   Claimants Committee Objects

The Official Committee of Asbestos Personal Injury Claimants
alleges that the Debtors have proposed a first amended plan of
reorganization that is unfair to asbestos creditors because, among
other things, those creditors would not be paid in full, while the
Debtors' parent, Coltec Industries, Inc., would retain a
significant equity interest.

The proposed Plan would also grant non-consensual, third-party
releases and extraordinary injunctive protection to Coltec and
other non-debtor affiliates, in exchange for no real consideration
and without complying with the requirements of Section 524(g) of
the Bankruptcy Code.

Like the proposed Plan, the procedures for solicitation and voting
on the Plan that are proposed in the Debtors' Motion are unfair,
unprecedented, unrealistic, and contrived to disqualify legitimate
claims, Trevor W. Swett III, Esq., at Caplin & Drysdale,
Chartered, in Washington, District of Columbia --
tswett@capdale.com -- tells the Court.  Hence,

Mr. Swett contends that through their proposed Voting Procedures,
the Debtors are seeking to introduce, once again, the functional
equivalent of the proof-of-claim and allowance process for
asbestos claims that the Court previously rejected.  He adds that
there is no good reason for the Court to be required to hold
temporary allowance proceedings in order to determine which
claimants are entitled to vote.

                      About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his co-
counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the liability for present and future mesothelioma
claims against EnPro Industries' Garlock Sealing Technologies LLC
subsidiary at $125 million, consistent with the positions GST put
forth at trial.


GARLOCK SEALING: FCR Reserves Rights on Disclosure Statement
------------------------------------------------------------
Joseph W. Grier, III, the future asbestos claimants'
representative, responds to the Disclosure Statement for Garlock
Sealing Technologies LLC, et al.'s First Amended Plan of
Reorganization, dated May 29, 2014.

The FCR does not object to the Debtors' Disclosure Statement on
the grounds that it does not contain "adequate information."  The
FCR emphasizes, however, that by not objecting to the Disclosure
Statement, he is not taking a position as to the merits of the
Plan, reserves all rights in that regard, and will provide his
response at the appropriate time.

                      About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his co-
counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the liability for present and future mesothelioma
claims against EnPro Industries' Garlock Sealing Technologies LLC
subsidiary at $125 million, consistent with the positions GST put
forth at trial.


GARLOCK SEALING: Committee Objects to Plan Disclosure Statement
---------------------------------------------------------------
The Official Committee of Asbestos Personal Injury Claimants
objects to the proposed Disclosure Statement for Garlock Sealing
Technologies LLC, et al.'s First Amended Plan of Reorganization,
filed on May 29, 2014.

The ACC believes that:

   * the U.S. Bankruptcy Court for the Western District of North
     Carolina's estimate of Garlock's aggregate liability for
     mesothelioma claims, which underlies the Plan, is
     unrealistic and far too low;

   * Asbestos Claimants are not assured of full payment for their
     claims under the Plan and, for this and other reasons, are
     impaired by the Plan and entitled to vote to accept or
     reject it;

   * the proposed Claims Resolution Procedures and Case
     Management Order are skewed in favor of Garlock and unfair
     to Asbestos Claimants, in that they would impose stringent
     requirements not based on applicable law but designed to
     insulate Garlock from legitimate claims; and

   * the Parent Settlement and non-debtor third party releases
     and the related injunction, which were not negotiated at
     arm's length, are unfair to Asbestos Claimants and
     impermissible under the Bankruptcy Code.

The ACC also believes that the Plan will prove unconfirmable.
Among its other flaws, the Plan would channel both current and
future asbestos claims to a capped fund, and would provide
extraordinary injunctive relief and third-party releases without
complying with the requirements of Section 524(g) of the
Bankruptcy Code, and in violation of other aspects of the
bankruptcy laws and principles of equity, Trevor W. Swett III,
Esq. -- tswett@capdale.com -- at Caplin & Drysdale, Chartered, in
Washington, District of Columbia contends.

The ACC's opinion that the Plan is unfair to Asbestos Claimants
and its recommendation that Asbestos Claimants vote to reject the
Plan constitute material information that Asbestos Claimants
should consider in determining whether to approve the Plan, Mr.
Swett says.

                      About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his co-
counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the liability for present and future mesothelioma
claims against EnPro Industries' Garlock Sealing Technologies LLC
subsidiary at $125 million, consistent with the positions GST put
forth at trial.


GARLOCK SEALING: Coltec Should Hire McDow as Consultant, FCR Says
-----------------------------------------------------------------
Joseph W. Grier, III, the future asbestos claimants'
representative, tells the U.S. Bankruptcy Court for the Western
District of North Carolina that he has no objection to the
appointment of a fee examiner in the bankruptcy cases of Garlock
Sealing Technologies LLC, et al.

Coltec Industries, Inc., parent of the Debtors, has sought the
appointment of W. Clarkson McDow, Jr., as an independent fee
examiner.

The FCR suggests a better path forward would be for Coltec to
engage Mr. McDow as consultant and not pass that burden on to the
bankruptcy estate.

The Debtors' review of professional fee applications since the
beginning of the cases has been detailed and exhaustive but at no
time during that four-year period have the Debtors objected to any
professional's fees other than counsel to the Asbestos Creditors'
Committee, the FCR says.  He asserts that Coltec's motion reflects
its two-party dispute with the ACC over the amount of the ACC's
counsel's fees.

Coltec complains that the ACC is using exorbitant fees as a hammer
to force the Debtors to offer them a richer settlement, the FCR
notes.  He avers that as Coltec concedes, the total of all fees is
almost equally divided between the two sides.

"To be sure, Coltec did not think a fee examiner was warranted
when the Debtors were spending over $50 million to make their case
but it does now that the Court has ruled in the Debtors' favor.
Thus, Coltec's current objection is that the ACC is spending fees
on legal strategies," the FCR contends.

The FCR further asserts that it is not the role of a fee examiner
to second guess the legal strategy of any estate professional,
whether the Debtors' or the ACC's.  So, he argues, Coltec will not
achieve its goal of the imprimatur of an independent fee examiner
but the fight between Coltec and the ACC over litigation strategy
will make it back to the Court once more, this time with another
added layer of expense for the estate.

                      About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his co-
counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the liability for present and future mesothelioma
claims against EnPro Industries' Garlock Sealing Technologies LLC
subsidiary at $125 million, consistent with the positions GST put
forth at trial.


GARLOCK SEALING: Belluck & Fox Opposes Bid to Unseal Documents
--------------------------------------------------------------
Law360 reported that a law firm and its attorneys fired back at
Ford Motor Co. and numerous other companies' request that it
unseal court records in Garlock Sealing Technologies LLC's
asbestos-related bankruptcy case, telling a North Carolina federal
judge that the bankruptcy court should first rule on the issue.
According to the report, the automotive and insurance companies,
including Honeywell International Inc. and Volkswagen Group, asked
the court Aug. 18 to let them inspect the sealed records, but
Belluck & Fox LLP and its attorneys Joseph Belluck and Jordon Fox
opposed the motion.

                      About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more
than a century, Garlock has been helping customers efficiently
seal the toughest process fluids in the most demanding
applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel
for asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in
the Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan
P. Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his co-
counsel.

Judge George Hodges of the United States Bankruptcy Court for the
Western District of North Carolina on Jan. 10, 2014, entered an
order estimating the liability for present and future mesothelioma
claims against EnPro Industries' Garlock Sealing Technologies LLC
subsidiary at $125 million, consistent with the positions GST put
forth at trial.


GENAERA CORP: 3rd Cir. Asked to Revive 'Fire Sale' Investor Row
---------------------------------------------------------------
Law360 reported that a Pennsylvania federal judge improperly
relied on materials outside the record when agreeing that a two-
year statute of limitations barred shareholders' putative class
action against defunct Genaera Corp. for allegedly undervaluing
company assets sold through a liquidating trust, the Third Circuit
heard.  According to the report, Howard Bashman, an attorney
representing plaintiff Alan Schmidt, argued that U.S. District
Court Judge Berle M. Schiller erred when he agreed that at the
time biotech firm Genaera completed the transactions in May 2010,
there was publicly available evidence that would have supported
the value of the sale.


GEO GROUP: Moody's Raises Senior Unsecured Rating to 'Ba3'
----------------------------------------------------------
Moody's Investors Service upgraded GEO Group's senior unsecured
rating to Ba3, from B1. The rating outlook is stable. Moody's also
affirmed, with a stable outlook, GEO Group's corporate family at
Ba3 as the preponderance of the REIT's debt is currently unsecured
debt.

The following ratings were upgraded with a stable outlook:

GEO Group, Inc. -- senior unsecured rating to Ba3, from B1;
senior secured credit facility to Ba2, from Ba3

The following rating was affirmed with a stable outlook:

GEO Group, Inc. -- corporate family rating at Ba3

Ratings Rationale

The rating action reflects GEO's sound operational performance,
continued improvement in operating margins, ample liquidity
position, and high fixed charge coverage at 2.5x as of 2Q14. While
the REIT's core business is highly vulnerable to government
budgetary restraints, Moody's believes GEO's operating platform is
diverse enough to absorb periods of modest deterioration in
earnings without too much strain on its current rating.

In the last year, GEO has expanded its footprint in the US and
abroad, enhancing its position as a leader in the private
corrections industry; most notably, its recent announcement to
develop and operate a new 1,000 bed corrections facility in
Ravenhall, Australia. This unique opportunity presents the REIT
with an additional avenue of growth and utilizes the REIT's
expertise in providing services across its full GEO Continuum of
Care which includes rehabilitation and community re-entry
programs. This project coupled with newly awarded contracts
reflect the continued need for prison privatization at the federal
and state levels.

Moody's notes that GEO Group has negligible amounts of debt
maturing through 2019 with no more than 1.2% of total debt
maturing in any given year. It recently amended its $700 million
credit revolver, extending its maturity date to August 2019. As
outlined to Moody's, the REIT also added a A$225 million letter of
credit facility maturing in August 2017 for its Ravenhall project
in Australia.

The stable outlook reflects Moody's expectation that GEO Group
will continue to grow while maintaining its solid credit metrics
and adequate liquidity profile.

Moody's indicated that upward ratings movement would be dependent
upon GEO Group achieving closer to $5 billion in gross assets,
fixed charge coverage (EBITDAR/fixed charges (inclusive of
interest expense, capitalized interest, principal amortization and
rent expense)) above 2.5x on a sustainable basis, effective
leverage below 40%, and operating margins above 25%.

Ratings pressure would likely result from secured debt levels
above 20%, net debt to EBITDA above 5.5x, fixed charge coverage
below 2.0x, and or a stall in revenue growth due to major client
loss.

Moody's last rating action with respect to GEO Group was on March
12, 2013 when Moody's assigned a B1 to GEO's senior unsecured
notes and revised the outlook to positive from stable.

GEO Group, Inc. (NYSE: GEO) is a leading provider of government
outsourced services focused on the management and ownership of
correctional, detention and residential community based services
to Federal, State, and local governments in the United States,
Australia, the United Kingdom, South Africa and Canada.


GLOBAL AVIATION: U.S. Trustee Objects to Ch. 7 Conversion Bid
-------------------------------------------------------------
BankruptcyData reported that U.S. Trustee assigned to the cases of
Global Aviation Holdings and its debtor affiliates, objected to
the Debtors' motion for entry of an order converting the Chapter
11 cases to cases under Chapter 7 of the Bankruptcy Code, asking
for several changes, including a change to the language that
purports to relieve all current officers and directors of the
Debtors from their duties as officers and directors.  The U.S.
Trustee said those terms should be stricken from any order
approving the request.

                   About Global Aviation Holdings

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

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

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

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

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

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

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

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


GOLDEN LAND: Creditors Have Until Oct. 14 to File Claim
-------------------------------------------------------
The Bankruptcy Court established Oct. 14, 2014, as the deadline
for any individual or entity to file proofs of claim against
Golden Land LLC.

Governmental units, meanwhile, must file proofs of claim by March
31, 2015.

Lawrence Litwack, Esq, receiver in possession, and secured
creditor 37 Avenue Realty Associates LLC, requested for the Claims
Bar Date.

Proofs of claim must be submitted to:

         Clerk of the Court
         U.S. Bankruptcy Court
         Eastern District of New York
         Conrad B. Duberstein U.S. Bankruptcy Courthouse
         271-C Cadman Plaza East, Suite 1595
         Brooklyn, NY 11201-1800

                       About Golden Land LLC

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 disclosed $15,423,997 in assets and $13,459,740 in
lianbilities as of the Chapter 11 filing.  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.


GRAND CENTREVILLE: Court Modifies Receiver Authorization Order
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia
granted a motion filed by Raymond A. Yancey, the Chapter 11
trustee for the jointly administered chapter 11 estates of Min S.
Kang and Man S. Kang, to (a) modify receiver authorization order;
(b) authorize procedures for conditional dismissal of the
bankruptcy case; and (c) provide limited relief from the automatic
stay, subject to certain procedures and provisions.

The objection to the motion is overruled.

All parties-in-interest are authorized to carry out the provisions
of the Settlement Agreement dated June 30, 2014, by and between
the Kang Trustee and James Y. Sohn.

The order authorizing Black Creek Consulting, Ltd., the receiver
of Grand Centreville, LLC, to remain in possession, custody and
control of the Debtor's property, is modified to provide that the
Receiver is authorized to take all actions required of its under
the Settlement Agreement on behalf of the Debtor and Grand
Formation, Inc.  In the event that the Settlement Payment is not
timely delivered to the Trustee, the Centreville Case will
continue for the purposes of winding down and liquidating the
assets of Centreville.

To the extent required, the Court authorized Centreville, the
Receiver, the Trustee and Mr. Sohn to take actions that are
necessary or appropriate to set aside the Centreville Deed of
Trust and the Centreville Note.  They are also authorized to take
all actions as are necessary or appropriate to facilitate and
enable Mr. Sohn to accomplish a refinance of the secure loan of
Wells Fargo Bank, N.A., as Trustee, and to timely pay the
Settlement Amount.

The Court ruled that upon the sale of the Debtor's assets, and
only if the proceeds of sale are sufficient to pay all creditors
in full, the proceeds will be distributed as set forth in the
Settlement Agreement.  If the proceeds of the sale are not
sufficient to pay all creditors in full, the proceeds may only be
distributed upon further Court order.

The order also provides, among other things, that the Debtor or
any party to the Settlement Agreement may file a motion to approve
the refinance of the Loan and to dismiss the bankruptcy case to
facilitate the refinance pursuant to the Settlement Agreement.

A copy of the order, including the Settlement Agreement, is
available for free at http://is.gd/BHBaOV

                     About Grand Centreville

Grand Centreville, LLC, filed a Chapter 11 petition (Bankr. E.D.
Va. Case No. 13-13590) on Aug. 2, 2013.  The petition was signed
by Michael L. Schuett, principal of Black Creek Consulting Ltd.,
the receiver.  Judge Robert G. Mayer presides over the case.
Paula S. Beran, Esq., and Lynn L. Tavenner, Esq., at Tavenner &
Beran, PLC, in Richmond, Va., represent the Debtor as counsel.

The Debtor owns the real property located at 13810-13860 Braddock
Road, Centreville, Virginia.  In its schedules, the Debtor
disclosed $40,550,046 in assets and $26,247,602 in liabilities as
of the petition date.

Grand Centreville's chapter 11 proceeding is related to the
Chapter 11 proceedings of Min S. Kang and Man S. Kang (Bankr. E.D.
Va. Case No. 10-18839-RGM) filed on Oct. 19, 2010.  Prior to March
16, 2009, the Kangs indirectly owned 100% of the economic
interests in the Debtor and, through their 100% ownership of Grand
Formation, controlled all management rights with respect to Grand
Centreville.  On Jan. 7, 2013, the Court entered an Order
directing the United States Trustee to appoint a chapter 11
trustee for the Kangs' case.  On the same date, the U.S. Trustee
appointed Raymond A. Yancey as chapter 11 trustee for the Kangs'
case, which appointment the Court approved on Jan. 16, 2013.

Wells Fargo Bank N.A., the secured creditor, is represented by
William C. Crenshaw, Esq., and Mona M. Murphy, Esq., at Akerman
LLP.

Special Counsel to Raymond A. Yancey, Chapter 11 Trustee in the
Kangs' Bankruptcy Case is Bradford F. Englander, Esq., at
Whiteford Taylor & Preston, L.L.P.  Counsel for Yeon K. Han is
Timothy J. McGary, Esq.  Counsel for James Y. Sohn is James R.
Schroll, Esq., at Bean, Kinney & Korman, P.C.


GREENBRIER WHALEY: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Greenbrier Whaley Group 2, LLC
        3909 Snyder Road
        Kodak, TN 37764

Case No.: 14-51523

Chapter 11 Petition Date: September 12, 2014

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Greeneville)

Judge: Hon. Phillips Parsons

Debtor's Counsel: Dean B. Farmer, Esq.
                  HODGES, DOUGHTY & CARSON, PLLC
                  P. O. Box 869
                  Knoxville, TN 37901
                  Tel: 865-292-2307
                  Fax: 865-292-2252
                  Email: dfarmer@hdclaw.com

Total Assets: $2.86 million

Total Liabilities: $3.39 million

The petition was signed by Kenneth P. Whaley, sole shareholder.

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


HORNBECK OFFSHORE: S&P Raises Corp. Credit Rating to 'BB-'
----------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Covington, La.-based Hornbeck Offshore Services to 'BB-'
from 'B+'.  The outlook is stable.

At the same time, S&P revised the recovery rating on the company's
senior unsecured notes to '3' from '2', indicating S&P's
expectation of meaningful (50% to 70%) recovery in the event of
payment default.  S&P affirmed the 'BB-' rating on the company's
senior unsecured debt.

The upgrade on Hornbeck reflects S&P's expectation that the
company will see improvement in day rates and utilization of its
vessels, resulting in improved operating performance and credit
measures.  Activity levels in the Gulf of Mexico have been
improving since the end of the Macondo-related moratorium, with
approximately 38 deepwater rigs now active, and S&P expects
several additional deepwater rigs to be delivered to the Gulf over
the next 12 months.

"The stable outlook is based on our expectation that drilling in
the Gulf of Mexico will remain at healthy levels for the next one
to two years," said Standard & Poor's credit analyst Stephen
Scovotti.  "We foresee leverage remaining in the 2.5x to 3.5x
range and funds from operations (FFO) to debt in the 20% to 30%
range over the next 12 to 24 months, which we consider appropriate
for the 'BB-' corporate credit rating, given the company's fair
business risk profile."

S&P could lower the rating if Hornbecks's day rates, utilization,
and cash flow generation fell below S&P's current expectations,
such that FFO to debt weakened to less than 20% with no near-term
remedy.  This scenario could occur if Gulf of Mexico drilling
subsided.  Given current healthy drilling in the deepwater Gulf of
Mexico, S&P considers such a decline unlikely over the next year.
S&P could also consider a lower rating if the company pursued a
more aggressive financial policy that hurt projected key credit
measures.

Given the company's current size and scope, S&P do not anticipate
an upgrade in the next 12 months.  An upgrade would require an
improvement in Hornbeck's business risk profile and a more
favorable view of the company's competitive position.  S&P would
consider this if Hornbeck continues to build its scale and size
relative to its oilfield services peers while maintaining credit
measures consistent with S&P's current expectations.


HOVNANIAN ENTERPRISES: Seeks Bondholder Consent to Incur More Debt
------------------------------------------------------------------
Hovnanian Enterprises Inc.'s wholly owned subsidiary, K. Hovnanian
Enterprises, Inc., has commenced solicitation of consents to amend
each of the indentures governing K. Hovnanian's 7.25% Senior
Secured First Lien Notes due 2020 and 9.125% Senior Secured Second
Lien Notes due 2020.

The purpose of the Consent Solicitations is to obtain from Holders
approval of the Proposed Amendments to modify the definition of
"Permitted Indebtedness" in each Indenture to permit K. Hovnanian,
the Company and its Restricted Subsidiaries to incur additional
Indebtedness in an amount not to exceed $300 million.

K. Hovnanian and the Company continue to evaluate their capital
structure and may, subject to market conditions and other
considerations, including the terms of the Indentures, seek to
raise additional debt capital.  Neither Consent Solicitation is
conditioned upon the consummation of any such debt offering.
Adoption of the Proposed Amendments would not provide the Company
with additional secured debt capacity under either Indenture.

The Consent Solicitation with respect to each Series of Notes is a
separate Consent Solicitation and is not conditioned upon the
other Consent Solicitation.

The Consent Solicitations are being made in accordance with the
terms and subject to the conditions stated in a Consent
Solicitation Statement, dated Sept. 11, 2014, and in a related
Consent Form, to holders of record as of 5:00 p.m., New York City
time, on Sept. 10, 2014.  As of the Record Date, the aggregate
outstanding principal amount of the First Lien Notes was
$577,000,000, and the aggregate outstanding principal amount of
the Second Lien Notes was $220,000,000.

Each Consent Solicitation is scheduled to expire at 5:00 p.m., New
York City time, on Sept. 22, 2014, unless extended or earlier
terminated.  Holders of Notes who validly deliver consents to the
applicable Proposed Amendments in the manner described in the
Consent Solicitation Statement will be eligible to receive consent
consideration equal to $2.50 per $1,000 principal amount of Notes
for which consents have been validly delivered prior to the
applicable Expiration Date (and not validly revoked).  Holders
providing consents after the applicable Expiration Date will not
receive consent consideration.  Consent consideration will be paid
to consenting Holders as promptly as practicable after the
satisfaction or waiver of the conditions to the Consent
Solicitations.

The consummation of each Consent Solicitation is subject to a
number of conditions that are set forth in the Consent
Solicitation Statement, including, without limitation, (i) the
receipt of the consent of the Holders of at least a majority in
aggregate principal amount of the outstanding Notes of the
applicable Series prior to the applicable Expiration Date and (ii)
the execution and effectiveness of a supplemental indenture
effecting the Proposed Amendments to the applicable Indenture.

Consents may be revoked prior to the date the applicable
supplemental indenture giving effect to the Proposed Amendments is
executed and becomes effective.  If the Requisite Consents for a
Series of Notes are received and the applicable supplemental
indenture is executed and becomes effective, upon payment by K.
Hovnanian of the consent consideration to the consenting Holders
of Notes of the applicable Series, the applicable Proposed
Amendments will be operative and be binding upon all holders of
Notes of the applicable Series, whether or not such holders have
delivered Consents.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and
Credit Suisse Securities (USA) LLC are the Solicitation Agents in
connection with the Consent Solicitations.

Persons with questions regarding the Consent Solicitations should
contact J.P. Morgan Securities LLC at (212) 270-1200 (collect) or
(800) 245-8812 (toll-free) (Attention: Liability Management
Group), Citigroup Global Markets Inc. at (212) 723-6106 (collect)
or (800) 558-3745 (toll-free) (Attention: Liability Management
Group) or Credit Suisse Securities (USA) LLC at (212) 325-2476
(collect) or (800) 820-1653 (toll-free) (Attention: Liability
Management Group).

Requests for copies of the Solicitation Documents and other
related materials should be directed to Global Bondholder Services
Corporation, the Information and Tabulation Agent for the Consent
Solicitations, at (212) 430-3774 (collect) or (866) 470-4200
(toll-free).

                     About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

Hovnanian Enterprises posted net income of $31.29 million on $1.85
billion of total revenues for the year ended Oct. 31, 2013, as
compared with a net loss of $66.19 million on $1.48 billion of
total revenues during the prior year.

As of July 31, 2014, the Company had $1.89 billion in total
assets, $2.33 billion in total liabilities and a $443.12 million
total deficit.

                           *     *     *

As reported by the Troubled Company Reporter on April 25, 2013,
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Hovnanian Enterprises Inc. to 'B-' from 'CCC+'.
"The upgrade reflects strengthening operating performance
supported by the broader recovery in the housing market that, we
believe, should support modest profitability in 2013," said
Standard & Poor's credit analyst George Skoufis.

In the Dec. 9, 2013, edition of the TCR, Fitch Ratings upgraded
the Issuer Default Rating (IDR) of Hovnanian Enterprises to 'B-'
from 'CCC'.  The upgrade and the Stable Outlook reflects HOV's
operating performance year-to-date (YTD), adequate liquidity
position, and moderately better prospects for the housing sector
during the remainder of this year and in 2014.

As reported by the TCR on Jan. 9, 2014, Moody's Investors Service
raised the Corporate Family Rating of Hovnanian Enterprises, Inc.,
to B3 from Caa1.  The upgrade of the Corporate Family Rating to B3
reflects Hovnanian's improved financial performance including
improvement in interest coverage to slightly above 1x and finally
turning net income positive for the fiscal year 2013.


IBCS MINING: Taps Dove and Associates as Accountant
---------------------------------------------------
IBCS Mining, Inc., et al., ask the U.S. Bankruptcy Court for the
Western District of Virginia for permission to employ Dove and
Associates PC as their accountant to prepare and file the Debtors'
2013 Federal and State business tax returns.

The firm charges a flat fee of $2,500 for its accounting services,
and $3,250 for corporate tax preparation.  The firm's
professionals and their compensation rates:

  Professional           Hourly Rate
  ------------           -----------
  Paul Dove, CPA         $225
  Diane Bolton, CPA      $150

The Debtors assure the Court that the firm is "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

  Paul Dove, CPA
  Diane Bolton, CPA
  DOVE AND ASSOCIATES PC
  292 S. Main St., Suite 600
  Alpharetta, GA 30009
  Tel: 770-740-9240
  Fax: 770-740-0853
  Email: paul@dovepc.com
         diane@dovepc.com

                        About IBCS Mining

IBCS Mining, Inc., and IBCS Mining, Inc., Kentucky Division, filed
separate Chapter 11 bankruptcy petitions (Bankr. W.D. Va. Case
Nos. 14-61215 and 14-61216) on June 27, 2014.  Edmund Scarborough
signed the petition as president.  Hirschler Fleischer, P.C.,
serves as the Debtors' counsel.  The Court on July 8, 2014,
authorized the joint administration of the cases.  The cases are
assigned to Judge Kevin R. Huennekens.  IBCS Mining estimated
assets and debts of at least $10 million.  IBCS Mining Inc.
disclosed $6,914,815 in assets and $7,279,157 in liabilities.

The U.S. Trustee for Region 4 appointed two creditors to serves in
the Official Committee of Unsecured Creditors.


IBCS MINING: Court Approves Michael Dean as CFO
-----------------------------------------------
The U.S. Bankruptcy Court for the Western District of Virginia
authorized IBCS Mining, Inc., et al., to appoint Michael Dean as
chief financial officer.

As reported in the Troubled Company Reporter on Aug. 18, 2014,
pursuant to the employment agreement, Mr. Dean will receive an
annual base salary of $240,000, well as incentive compensation.
In the event of a sale, the incentive bonus will equal 2.25% of
the gross proceeds of the sale.  In the event of a confirmed plan
of reorganization, the incentive bonus will equal 2.25% of the
total monetary value derived by the bankruptcy estates from the
reorganization.  The incentive compensation requires Mr. Dean's
involvement in the negotiation and preparation of any such sale or
proposed plan of reorganization.

A full-text copy of the employment agreement of Michael Dean is
available for free at http://is.gd/YGMoxl

                        About IBCS Mining

IBCS Mining, Inc., and IBCS Mining, Inc., Kentucky Division, filed
separate Chapter 11 bankruptcy petitions (Bankr. W.D. Va. Case
Nos. 14-61215 and 14-61216) on June 27, 2014.  Edmund Scarborough
signed the petition as president.  Hirschler Fleischer, P.C.,
serves as the Debtors' counsel.  The Court on July 8, 2014,
authorized the joint administration of the cases.  The cases are
assigned to Judge Kevin R. Huennekens.  IBCS Mining estimated
assets and debts of at least $10 million.  IBCS Mining Inc.
disclosed $6,914,815 in assets and $7,279,157 in liabilities.

The U.S. Trustee for Region 4 appointed two creditors to serves in
the Official Committee of Unsecured Creditors.


IBCS MINING: Gets Final Approval to Use $1.5-Mil. CTB DIP Loan
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Virginia
authorized IBCS Mining, Inc., et al. to obtain, on a final basis,
senior secured debtor-in-possession postpetition financing from
Community Trust Bank, Inc., consisting of a $1.5 million term loan
secured by a first lien on all assets of the Debtors; and use cash
collateral.

As reported in the Troubled Company Reporter on Aug. 22, 2014, the
material terms of the DIP financing include, among other things:

   DIP lender:                 Community Trust Bank

   Commitments:                $1.5 million superpriority senior
                               secured term loan, to be drawn upon
                               entry of the interim order.

   Maturity Date:              the DIP Loan will be due on the
                               earliest of (i) Dec. 15, 2014, (ii)
                               the occurrence of an event of
                               default; (iii) the closing of a
                               sale pursuant to an order
                               authorizing a sale of all or
                               substantially all of the Debtors'
                               assets; or (iv) the effective date
                               of any confirmed plan of
                               reorganization

   Interest Rates:             base rate: 7.5% per annum
                               default interest rate: 3% per annum
                               above the otherwise applicable
                               interest rates.

A copy of the financing terms is available for free at
http://bankrupt.com/misc/IBCSMINING_101_financing.pdf

               Limited Postpetition Financing

The Court also authorized the Debtors to incur, on a final basis,
a limited postpetition financing up to an aggregate principal
amount not to exceed $25,000 to fund the operational and working
capital needs of the Debtors on a temporary basis until the
Debtors are able to finalize the terms of more extensive DIP
financing.

According to the Debtors, they were in negotiations with a lender
regarding new DIP financing.

The terms are:

   Interest Rate:              0%

   Maturity Date:              Matures upon funding of
                               subsequently approved debtor-in-
                               possession financing and is to be
                               paid through any subsequently
                               approved DIP financing

   Events of Default:          None

   Liens:                      None

   Borrowing Limits:           $25,000

   Borrowing Conditions:       None

                    Callidus Capital DIP Loan

On July 7, the Bankruptcy Court authorized, in an interim basis,
the Debtor to (i) obtain senior secured DIP financing from
Callidus Capital Corporation, the DIP lender, consisting of a
$1 million revolving DIP facility and a $2.5 term loan each
secured by a first lien on all assets; and (ii) use of the DIP
Lender's cash collateral.

A copy of the terms of financing is available for free at
http://bankrupt.com/misc/IBCSMINING_44_financingord.pdf

As reported in the TCR on July 10, 2014, the Debtor related that
Callidus Capital committed to provide a $2.5 million superpriority
senior secured term loan and a $1 million revolving loan.  The DIP
Loan will bear interest at a rate of 18% per annum. From and after
an event of default, the DIP Loan will accrue interest at 3% per
annum above the otherwise applicable interest rates.  The DIP Loan
will be due on the earliest of: (i) Dec. 15, 2014; (ii) the
occurrence of an event of default; (iii) closing of a sale; or
(iv) the effective date of any confirmed plan of reorganization.

The Debtors also sought authority to assume an agreement,
confirmation and amendment with Virginia Electric and Power
Company, because assumption of the agreement is a condition
precedent to the DIP Financing.  The Debtors said assumption of
the agreement ensures that IBCS will be able to resume operations
and generate income.  Without assumption of the agreement, IBCS
will be unable to generate sufficient cash flow required by the
terms of the DIP Financing Facility, will be unable to resume
operations, and will likely be forced to liquidate.

Branch Banking and Trust Company, as a secured creditor of the
Debtors, objected to the approval of the DIP financing and the use
of use of cash collateral, and asked the Court to issue an order
directing the Debtors to provide adequate protection of BB&T's
interests in certain property owned by the Debtors.  BB&T
complains that the offer of adequate protection fails to meet the
standards set forth in the Bankruptcy Code as the value of the as-
extracted coal as of the Petition Date will decline as it is used
and a replacement lien will be of no value.

Wells Fargo Bank Northwest, N.A., as indenture trustee, also
objected to the Debtors' bid to obtain DIP financing, and to use
cash collateral, stating that the request to grant senior lender
Callidus a senior priming lien on the GOB Coal, if approved, would
constitute an indenture event of default.

                        About IBCS Mining

IBCS Mining, Inc., and IBCS Mining, Inc., Kentucky Division, filed
separate Chapter 11 bankruptcy petitions (Bankr. W.D. Va. Case
Nos. 14-61215 and 14-61216) on June 27, 2014.  Edmund Scarborough
signed the petition as president.  Hirschler Fleischer, P.C.,
serves as the Debtors' counsel.  The Court on July 8, 2014,
authorized the joint administration of the cases.  The cases are
assigned to Judge Kevin R. Huennekens.  IBCS Mining estimated
assets and debts of at least $10 million.  IBCS Mining Inc.
disclosed $6,914,815 in assets and $7,279,157 in liabilities.

The U.S. Trustee for Region 4 appointed two creditors to serves in
the Official Committee of Unsecured Creditors.


IBCS MINING: US Trustee Says Unsecured Committee Dissolved
----------------------------------------------------------
Judy A. Robbins, the U.S. Trustee for Region 4, informed the U.S.
Bankruptcy Court for the Western District of Virginia that the
original members of the Official Committee of Unsecured Creditors
for IBCS Mining Inc. and IBCS Mining Inc. (Kentucky Division)
is dissolved, citing the number of persons or entities eligible or
willing to serve on a committee has become insufficient to allow
for continuing function of the committee.

The U.S. Trustee said it will appoint members upon the request of
an adequate number of unsecured creditors.

As reported in the Troubled Company Reporter on Aug. 18, 2014, the
Committee consists of:

  1. R. Thomas Hopkins, VP
     Virginia Community Bank
     P.O. Box 888
     Louisa, VA 23093

  2. Timothy M. Campoy, president
     Environmental Design Consultants, Inc.
     43 Village Street
     Pikeville, KY 41501

                        About IBCS Mining

IBCS Mining, Inc., and IBCS Mining, Inc., Kentucky Division, filed
separate Chapter 11 bankruptcy petitions (Bankr. W.D. Va. Case
Nos. 14-61215 and 14-61216) on June 27, 2014.  Edmund Scarborough
signed the petition as president.  Hirschler Fleischer, P.C.,
serves as the Debtors' counsel.  The Court on July 8, 2014,
authorized the joint administration of the cases.  The cases are
assigned to Judge Kevin R. Huennekens.  IBCS Mining estimated
assets and debts of at least $10 million.  IBCS Mining Inc.
disclosed $6,914,815 in assets and $7,279,157 in liabilities.

The U.S. Trustee for Region 4 appointed two creditors to serves in
the Official Committee of Unsecured Creditors.


INERGETICS INC: Amends 24.6-Mil. Shares Resale Prospectus
---------------------------------------------------------
Inergetics, Inc., filed an amended Form S-1 registration statement
with the U.S. Securities and Exchange Commission relating to the
offer and sale of up to 24,656,000 shares of common stock, par
value $0.001, of the Company by 31 Group LLC.

The shares of common stock being offered by the Selling
Stockholder have been or may be issued pursuant to conversion of a
Subordinated Secured Convertible Promissory Note dated July 14,
2014, and exercise of a Common Stock Purchase Warrant dated
July 14, 2014.

There are no underwriting arrangements to sell the shares of
common stock that are being offered by the Selling Stockholder.
The prices at which the Selling Stockholder may sell shares will
be determined by the prevailing market price for the shares or in
privately negotiated transactions.

The Company is not selling any securities under this prospectus
and will not receive any of the proceeds from the sale of shares
by the Selling Stockholder.  However, the Company may receive
proceeds from the exercise of the Warrant.

The Company will pay the expenses incurred in registering the
shares, including legal and accounting fees.

The Company's common stock is currently quoted on the Over-the-
Counter Bulletin Board, or the OTCBB, under the symbol "NRTI".  On
Sept. 5, 2014, the last reported sale price of the Company's
common stock on the OTCBB was $0.04.

A full-text copy of the amended prospectus is available at:

                        http://is.gd/j1dino

                        About Inergetics Inc.

Paramus, N.J.-based Inergetics, Inc., formerly Millennium
Biotechnologies Group, Inc., is a holding company for its
subsidiary Millennium Biotechnologies, Inc.  Millennium is a
research based bio-nutraceutical corporation involved in the field
of nutritional science.  Millennium's principal source of revenue
is from sales of its nutraceutical supplements, Resurgex Select(R)
and Resurgex Essential(TM) and Resurgex Essential Plus(TM) which
serve as a nutritional support for immuno-compromised individuals
undergoing medical treatment for chronic debilitating diseases.
Millennium has developed Surgex for the sport nutritional market.
The Company's efforts going forward will focus on sales of Surgex
in powder, bar and ready to drink forms.

The Company's balance sheet at June 30, 2014, showed $3.01 million
in total assets, $12.68 million in total liabilities, $9.09
million in preferred stock and a stockholders' deficit of
$18.76 million total stockholders' deficit.

The Company stated in its quarterly report for the period ended
June 30, 2014, that "The Company's future success is dependent
upon its ability to achieve profitable operations and generate
cash from operating activities, and upon additional financing.
Management believes they can raise the appropriate funds needed to
support their business plan and develop an operating company which
is cash flow positive.

"However, the Company has a working capital deficit, significant
debt outstanding, incurred substantial net losses for the six
months ended June 30, 2014 and 2013 and has accumulated a deficit
of approximately $91 million at June 30, 2014.  The Company has
not been able to generate sufficient cash from operating
activities to fund its ongoing operations.  There is no guarantee
that the Company will be able to generate enough revenue and/or
raise capital to support its operations.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern."


INT'L MANUFACTURING: Ch.11 Trustee Hires Davis Wright as Counsel
----------------------------------------------------------------
Beverly N. McFarland, the Chapter 11 Trustee of International
Manufacturing Group, Inc., seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of California to employ
Davis Wright Tremaine LLP as her special labor and employment law
counsel, effective Aug. 10, 2014.

The Chapter 11 Trustee anticipates needing labor and employment
law advice, including the following legal services:

   (a) assisting the Trustee concerning employment law obligations
       and policies with respect to IMG;

   (b) assisting the Trustee with employment issues related to the
       sale of IMG's business; and

   (c) advising the Trustee regarding IMG's 401k plan.

Davis Wright will be paid at these hourly rates:

       Jeffrey S. Bosley, Partner      $495
       Dipa Sudra, Associate           $425
       Colin D. Wells, Associate       $360

Davis Wright will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Jeffrey S. Bosley, partner of Davis Wright, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Davis Wright can be reached at:

       Jeffrey S. Bosley, Esq.
       DAVIS WRIGHT TREMAINE LLP
       Suite 800, 505 Montgomery Street
       San Francisco, CA 94111-6533
       Tel: (415) 276-6594
       Fax: (415) 276-6599
       E-mail: jeffbosley@dwt.com

               About International Manufacturing

Deepal Wannakuwatte, the mastermind of a $150 million Ponzi
scheme, put himself and his company, International Manufacturing
Group Inc., into Chapter 11 after he pleaded guilty to one count
of wire fraud and agreed to a 20-year prison sentence.  The
bankruptcy filing was part of his plea bargain with federal
prosecutors.  Mr. Wannakuwatte is the former owner of the
Sacramento Capitols tennis team.

International Manufacturing Group, Inc., filed a bare-bones
Chapter 11 bankruptcy petition (Bankr. E.D. Cal. Case No.
14-25820) in Sacramento, on May 30, 2014.  The case is assigned to
Judge Robert S. Bardwil.

The Debtor has tapped Marc A. Caraska, in Sacramento, as counsel.

In June 2014, Beverly N. McFarland was appointed as Chapter 11
trustee for the Debtor.  She has tapped Felderstein Fitzgerald
Willoughby & Pascuzzi LLP as her bankruptcy counsel; Diamond
McCarthy LLP as her special litigation counsel; Gabrielson &
Company as accountant; and Karen Rushing as bookkeeper outside the
ordinary course of business.

According to the docket, governmental entities have until Nov. 26,
2014, to file claims.

The U.S. Trustee for Region 7 appointed a three-member unsecured
creditors panel comprising of Byron Younger, Janine Jones, and
Steve Whitesides.


INTRAWEST RESORTS: Blue Mountain Deal No Impact on Moody's B2 CFR
-----------------------------------------------------------------
Moody's Investors Service said that Intrawest Resorts Holdings,
Inc.'s purchase of the remaining 50% equity interest in Blue
Mountain Ski Resorts that is not already owned by the company is a
credit positive, but it does not immediately impact the company's
B2 Corporate Family Rating (CFR) or stable outlook.

Intrawest Resorts Holdings, Inc., headquartered in Denver,
Colorado, is one of North America's premier mountain resort and
adventure companies and is publicly traded under the symbol "SNOW"
on the NASDAQ stock exchange following its February 2014 IPO.
Intrawest operates three reportable segments through its
subsidiaries including Mountain (68% of FY14 reported segment
revenues), Adventure (20%), and Real Estate (11%). The Mountain
segment includes six ski resorts in the US and Canada including;
Steamboat and Winter Park in Colorado, Stratton in Vermont,
Snowshoe in West Virginia, Tremblant in Quebec, and Blue Mountain
in Ontario. The company also owns a 15% interest in Mammoth
Mountain in California, as well as Canadian Mountain Holidays
(CMH), which is a heli-skiing operator and aviation business, as
well as a comprehensive set of real estate businesses. Real estate
includes the management, marketing and sales of vacation club
properties through Intrawest Resort Club Group (IRCG), management
of condo/hotel properties through Intrawest Hospitality Management
(IHM), and sales and marketing of residential real estate through
Playground. Following the IPO Intrawest remains beneficially owned
by Fortress Investment Group, which maintains 60.1% of the voting
and economic equity interests of the company. During the twelve
month period ended June 30, 2014 the company generated $527
million in revenues.


INTRAWEST RESORTS: S&P Affirms 'B' CCR on Incremental Debt Add-On
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B'
corporate credit rating on Denver-based mountain resort operator
and real estate manager Intrawest Resorts Holdings Inc.  The
rating outlook is stable.

At the same time, S&P affirmed the rating on subsidiary Intrawest
Operations Group LLC's (Operations) $25 million revolver due 2018
at 'BB-', with a recovery rating of '1', indicating S&P's
expectation for very high (90% to 100%) recovery for lenders in
the event of a payment default.

In addition, S&P affirmed the ratings on Operation's upsized $600
million first-lien term loan due 2020 and $55 million letter of
credit facility due 2018 at 'B+', with a recovery rating of '2',
indicating S&P's expectation for substantial (70% to 90%) recovery
for lenders in the event of a payment default.

Intrawest plans to use the proceeds from the $60 million
incremental add-on to purchase the remaining 50% equity interest
in Blue Mountain Ski Resort, to partially reimburse capital
spending from the prior equity owners, for transaction fees, and
to add a modest amount of cash on the balance sheet.

"The 'B' corporate credit rating on Intrawest reflects our
assessment of the company's business risk profile as 'weak' and
its financial risk profile as 'highly leveraged,' according to our
criteria," said Standard & Poor's credit analyst Stephen Pagano.

The stable outlook reflects S&P's expectation for adjusted
interest coverage to improve to around 3x, adjusted FFO to debt to
improve to 12%, and for adjusted debt to EBITDA (excluding
financial sponsor owned debt) to improve to the mid-5x area in
fiscal 2016.

S&P could consider lowering the ratings if operating performance
deteriorates and drives EBITDA coverage of cash interest expense
toward the mid-1x area, or the company faces an inability to
internally fund maintenance capital expenditures.  Alternatively,
S&P could also lower the ratings if adjusted debt to EBITDA
(excluding financial sponsor owned debt) were to increase to the
mid-7x level and remain at that level over the foreseeable future.

S&P could consider a higher rating if it believes the financial
policy of the company's majority financial sponsor owner would
result in adjusted debt to EBITDA remaining below 5x and EBITDA
coverage of cash interest is sustained over 2x.


IOWA GAMING: Chapter 11 Case Dismissed
--------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that a bankruptcy judge in Pennsylvania dismissed
the Chapter 11 case of Penn National Gaming Inc.'s subsidiary Iowa
Gaming Co. LLC after unsuccessfully obtaining a gaming license.

As previously reported by The Troubled Company Reporter, the
Debtor sought voluntary dismissal of its bankruptcy case, saying
it has sufficient assets to satisfy all valid claims and that
dismissal will lead to a more cost-effective measure in settling
all the liabilities.

                        About Iowa Gaming

Iowa Gaming Company, LLC, and Belle of Sioux City, L.P., sought
Chapter 11 protection (Bankr. E.D. Pa. Lead Case No. 14-13904) in
Reading, Pennsylvania, on May 14, 2014 following a decision by the
Iowa Racing and Gaming Commission to close down Belle's casino by
July 2014.

Belle of Sioux City has owned and operated the Argosy riverboat
casino in Sioux City, Iowa since 1994.  Iowa Gaming is Belle's
general partner, and it is an indirect subsidiary of Penn National
Gaming, Inc.  Iowa Gaming and Penn manage Belle, and they operate
out of Penn's corporate offices located in Wyomissing,
Pennsylvania.

The Debtors have tapped Stevens & Lee, P.C. as counsel; Quinn
Emanuel Urquhart & Sullivan, LLP, as co-counsel; and Province,
Inc. as financial advisor.

In their schedules, Iowa Gaming disclosed $57,866,300 in total
assets and $4,710,258 in total liabilities, while Belle disclosed
$58,450,809 in total assets and $4,710,258 in total liabilities.
According to Belle's financial records, Belle has an intercompany
receivable of $47 million from Penn National.


ISHARES FUNDS: Moody's Withdraw Ratings of 15 Funds
---------------------------------------------------
Moody's Investors Service has withdrawn the bond fund ratings of
15 iShares funds managed by BlackRock, Inc.

Moody's withdrew the ratings for its own business reasons.

The bond fund ratings of the following iShares funds were
withdrawn:

iShares $ Corporate Bond UCITS ETF, withdrawn at Baa-bf
iShares $ TIPS UCITS ETF, withdrawn at Aaa-bf
iShares $ Treasury Bond 1-3yr UCITS ETF, withdrawn at Aaa-bf
iShares $ Treasury Bond 7-10yr UCITS ETF, withdrawn at Aaa-bf
iShares GBP Corporate Bond UCITS ETF, withdrawn at Baa-bf
iShares GBP Index-Linked Gilts UCITS ETF, withdrawn at Aa-bf
iShares Euro Corporate Bond Large Cap UCITS ETF, withdrawn at
  Baa-bf
iShares Euro Government Bond 1-3yr UCITS ETF, withdrawn at Baa-bf
iShares Euro Government Bond 15-30yr UCITS ETF, withdrawn at A-bf
iShares Euro Government Bond 3-5yr UCITS ETF, withdrawn at A-bf
iShares Euro Government Bond 7-10yr UCITS ETF, withdrawn at A-bf
iShares Euro Inflation Linked Government Bond UCITS ETF,
  withdrawn at Aa-bf
iShares Global Inflation Linked Government Bond UCITS ETF,
  withdrawn at Aa-bf
iShares J.P. Morgan $ Emerging Markets Bond UCITS ETF, withdrawn
  at Ba-bf
iShares UK Gilts UCITS ETF, withdrawn at Aa-bf

The iShares ETFs are managed by BlackRock, Inc. (A1, stable), a
global asset management company with assets under management of
US$4.594 trillion as of June 30, 2014.


IVANHOE RANCH: Hearing on Case Conversion Continued Wednesday
-------------------------------------------------------------
The Bankruptcy Court has continued until Sept. 17, 2014, at 10:00
a.m. the hearing to consider the U.S. Trustee's motion to convert
the Chapter 11 case of Ivanhoe Ranch Partners LLC to one under
Chapter 7 of the Bankruptcy Code.

Pursuant to a minute order for the Sept. 3 hearing, Essel
Enterprises, Henry Gamboa and Rainbow Steel were to file document
regarding settlement terms by Sept. 10.  The U.S. Trustee was to
file document regarding the Sept. 17 hearing by Sept. 12.
Responses were due by noon on Sept. 16.

As reported in the Troubled Company Reporter on Aug. 27, 2014,
the case conversion request was filed by Tiffany L. Carroll, the
acting U.S. trustee.  She argued that conversion to Chapter 7 is
in the best interests of the estate and creditors because of the
Debtor's gross mismanagement and losses.

The U.S. Trustee, in her 13-page motion filed on July 25, cited:

     -- Illegal Use of the Debtor's Property and Dangerous
        Conditions

     -- Mismanagement of the Debtor and the Use of the Property
        for Third Parties

     -- The Debtor's Failure to Comply with Reporting
        Requirements, Disclosure Obligations, and its Lack
        of Progress Towards Reorganization

"Allowing an opportunity for a Chapter 7 trustee to conduct an
investigation is in the best interest of the estate and
creditors," Ms. Carroll said.

Essel Enterprises, LLC, the Debtor's secured lender, supports the
U.S. Trustee's motion to convert.

The Debtor filed a 3-page opposition to the Conversion Motion.
That filing also seeks, as an alternative, continuance of the
motion to convert.  The Debtor stated that the intention "To file
Motion to Convert" was announced in court on July 11, 2014
together with the U.S. Trustees attorney's announcement that
counsel for the debtor had not yet been approved by the court to
serve as counsel, in spite of the fact that he has served as
general counsel since September 23, 2014 and had fees approved
without opposition.  The Debtor noted that since July 11, 2014,
its general counsel, Kenneth C. Hoyt, Esq., has been attempting to
get approved as counsel Nunc Pro Tunc.  The U.S. Trustee has not
yet issued a position and a hearing for approval has yet to be
set.

The Debtor also said that the facts are that the general state of
the physical property has remained the same since filing Chapter
11 in September 2013.  In fact, the Debtor continued, whenever, a
"problem" has been noted by the trustee's office and/or its
personnel, the problem has been corrected or addressed at no
charge to the Debtor's estate.

Henry Gamboa, a creditor, and the sole manager and member of the
Debtor, opposed the U.S. Trustee's Motion to Convert.  "The
Trustee's motion fails to establish good cause for an order
converting this case from a Chapter 11 reorganization proceeding
into Chapter 7 liquidation proceeding. Mr. Gamboa, as manager of
the Ivanhoe Property, has already addressed many of the concerns
raised in the Trustee's motion, regarding the management of the
debtor's real property.  Many of the Trustee's concerns regarding
the management of the real property are overstated and not a
significant cause for further concern. Because the motion fails to
make an adequate showing of "cause" within the meaning of 11
U.S.C. [Sec.] 1102(b) to convert this case to Chapter 7, the
action should continue under Chapter 11," Mr. Gamboa's Memorandum
states.

Additionally, the Sept. 3 minute order provided that:

   1. the Court approved, on a limited basis, the amended
application to employ Kenneth C. Hoyt as general counsel for the
Debtor. The order will be without prejudice to the U.S. Trustee's
right to raise issues again in connection with the final fee
application.

   2. status conference on the Debtor's Chapter 11 petition is
continued until Sept. 17.

                 About Ivanhoe Ranch Partners LLC

Based in El Cajon, California, Ivanhoe Ranch Partners LLC aka
Ivanhoe Development Corp. filed for Chapter 11 bankruptcy case
(Bankr. S.D. Cal. Case No. 13-09397) on Sept. 23, 2013.  Judge
Laura S. Taylor presides over the Debtor's bankruptcy case.
Kenneth C. Hoyt, Esq., at Hoyt Law Firm, represents the Debtor as
counsel.  The Debtor estimated assets between $10 million and
$50 million and debts between $1 million and $10 million.

On April 1, 2014, the Court entered an order granting relief from
the automatic stay in favor of Essel Enterprises, LLC, the secured
lender, with respect to the Debtor's key asset, which consists of
a series of non-contiguous parcels of real property in rural east
county, San Diego.


IXIA: Nasdaq Extends Listing Compliance Deadline to November 13
---------------------------------------------------------------
Ixia on Sept. 10 disclosed that a NASDAQ Hearings Panel has
determined to extend the date by which the company must become
current in filing its required periodic financial reports with the
Securities and Exchange Commission from September 12, 2014 to
November 13, 2014.  As a result, The NASDAQ Stock Market will
continue the listing of Ixia's common stock subject to the
condition that, on or before November 13th, Ixia become current in
its filings and also demonstrate that it is in compliance with all
other requirements for continued listing on Nasdaq.  If the
company is unable to satisfy these conditions, the company's
common stock will be delisted.

Ixia is currently delinquent in filing with the SEC its Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2014 and
June 30, 2014.  The company requested the extension after
determining that it likely would not be in a position to file the
Quarterly Reports by September 12th, the date previously
established by the Panel as the date by which the company must
become compliant with Nasdaq's listing requirements.  The Panel
does not have discretion to grant the company any further
extensions beyond November 13th.

"We are pleased that the Panel has granted us this extension,"
commented Brent Novak, Ixia's acting chief financial officer.  "We
are continuing to devote substantial resources to complete and
file the Quarterly Reports and expect to become current before the
November 13th date set by the Panel."

                           About Ixia

Ixia (Nasdaq: XXIA) -- http://www.ixiacom.com-- develops amazing
products so its customers can connect the world.  Ixia helps its
customers provide an always-on user experience through fast,
secure delivery of dynamic, connected technologies, and services.
Through actionable insights that accelerate and secure application
and service delivery, Ixia's customers benefit from faster time to
market, optimized application performance and higher-quality
deployments.


IZEA INC: CEO Buys 8,000 Common Shares
--------------------------------------
Edward H. Murphy, president and chief executive officer of Izea,
Inc., purchased 8,000 shares of the Company's common stock in the
open market for a total purchase price of $2,592 ($0.324 per
share) for investment purposes.

                          About IZEA, Inc.

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

IZEA reported a net loss of $3.32 million on $6.62 million
of revenue for the 12 months ended Dec. 31, 2013, as compared with
a net loss of $4.67 million on $4.95 million of revenue during
2012, and a net loss of $3.98 million in 2011.

As of June 30, 2014, the Company had $12.18 million in total
assets, $13.27 million in total liabilities and a $1.09 million
total stockholders' deficit.


LAKSHMI HOSPITALITY: Section 341(a) Meeting Set for Oct. 7
----------------------------------------------------------
A meeting of creditors in the bankruptcy case of Lakshmi
Hospitality Group, LLC, will be held on Oct. 7, 2014, at 9:00 a.m.
at 402 W. Broadway, Emerald Plaza Building, Suite 660 (B), Hearing
Room B, in San Diego, Calif.

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

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

Lakshmi Hospitality Group, LLC, owner of a hotel in Fenton,
Missouri, filed a Chapter 11 bankruptcy petition (Bankr. S.D. Cal.
Case No. 14-07199) in San Diego, California, on Sept. 5, 2014.
Plyush Mehta signed the petition as authorized signatory.  The
Debtor disclosed total assets of $12.7 million and total
liabilities of $8.1 million.

The case is assigned to Judge Margaret M. Mann.  The Debtor has
tapped J. Bennett Friedman, Esq., at Friedman Law Group, P.C., in
Los Angeles, as counsel.


LOUDOUN HEIGHTS: Court Won't Review Ruling Against Case Dismissal
-----------------------------------------------------------------
Judge Brian F. Kenney of the U.S. Bankruptcy Court for the Eastern
District of Virginia denied Little Piney Run, LLC's motion asking
the Court to reconsider its decision denying LPR's motion to
dismiss the bankruptcy case and approving a settlement between
Loudoun Heights, LLC and M&T Bank.

LPR raises two arguments in its Motion: (i) LPR argues that the
corporate existence of Loudoun Mitigation Bank has expired
pursuant to the terms of its Operating Agreement, and therefore,
LMB is legally incapable of carrying out the sale of stream bank
credits, as contemplated by the settlement, and (ii) LPR next
argues that, under the terms of the First Amendment to LMB's
Operating Agreement, Ms. Bane's capital contribution consists in
part of the stream credits from the LPR properties, and that
contribution "is made on the understanding that the sale must be
approved by the members of Little Piney Run, LLC."

LPR does not consent to the sale of the stream credits, and
therefore, it asserts a condition precedent to the sale of the
stream credits cannot be fulfilled.

Tamara Klinefelter Bane owns a 52.7% interest in LMB.  Ms. Bane is
the wife of Joe Bane, the Debtor's sole manager.

The Court finds that LPR has waived both arguments by not having
raised them before.  The Court further finds that there is no
clear error of law, and no manifest injustice, as a result of the
approval of the settlement motion.

                      About Loudoun Heights

Loudoun Heights, LLC, filed a Chapter 11 petition (Bankr. E.D. Va.
Case No. 13-15588) on Dec. 16, 2013.  The Debtor disclosed total
assets of $13.10 million and total debts of $4.84 million.  The
petition was signed by Joe Bane as sole manager.  Frank Bredimus,
Esq., at Law Office of Frank Bredimus, serves as the Debtor's
counsel.  Judge Brian F. Kenney presides over the case.

As reported in the Troubled Company Reporter on April 22, 2014,
the Debtor in early April filed an amended disclosure statement
explaining its proposed plan of reorganization.  According to the
disclosure statement, all classes of creditors will be paid in
full.  The proceeds from the sale of the Debtor's assets will be
sufficient to pay the Claims of all secured, priority unsecured
and general unsecured creditors, and court-approved professionals.
The Debtor expects $4.37 million to $9.92 million in revenue from
the sale of all assets.


LOUDOUN HEIGHTS: Plan Confirmation Hearing Scheduled for Oct. 23
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia
will commence a hearing on October 23, 2014, at 9:30 a.m., to
consider confirmation of Loudoun Heights LLC's fourth amended
Chapter 11 Plan.

The Plan contemplates the liquidation of all of the Debtor's
assets, including tangible assets, general intangible assets, and
real property.  In accordance with the Plan, the Debtor intends to
use the proceeds from the sales to pay toward the Allowed Claims
of all Classes of Secured and Unsecured Creditors.

The Debtor's Plan provides that M&T Bank has been granted
immediate relief from stay, and that this creditor will foreclose
on the secured 166-Acre Property no earlier than Oct. 22, 2014.
Additionally, this Claim will receive 80% of the Debtor's share of
proceeds generated by the sale of stream mitigation credits
relating to the 166-Acre Property.

A copy of the Plan is available for free at:

      http://bankrupt.com/misc/LOUDOUNHEIGHTS_208_4plan.pdf

                      About Loudoun Heights

Loudoun Heights, LLC, filed a Chapter 11 petition (Bankr. E.D. Va.
Case No. 13-15588) on Dec. 16, 2013.  The Debtor disclosed total
assets of $13.10 million and total debts of $4.84 million.  The
petition was signed by Joe Bane as sole manager.  Frank Bredimus,
Esq., at Law Office of Frank Bredimus, serves as the Debtor's
counsel.  Judge Brian F. Kenney presides over the case.

As reported in the Troubled Company Reporter on April 22, 2014,
the Debtor in early April filed an amended disclosure statement
explaining its proposed plan of reorganization.  According to the
disclosure statement, all classes of creditors will be paid in
full.  The proceeds from the sale of the Debtor's assets will be
sufficient to pay the Claims of all secured, priority unsecured
and general unsecured creditors, and court-approved professionals.
The Debtor expects $4.37 million to $9.92 million in revenue from
the sale of all assets.


LOUDOUN HEIGHTS: Says It Won't Fund Exit Plan Illegally
-------------------------------------------------------
Loudoun Heights, LLC, responds to Little Piney Run Estates, LLC's
objection to the Debtor's Fourth Amended Plan of Reorganization
dated July 31, 2014.  LPR is the 93% owner of the Debtor.

Contrary to LPR's allegations, the Debtor does not propose to fund
the Plan through a means forbidden by law, Frank Bredimus, Esq.,
at The Law Office of Frank Bredimus, PLC, in Hamilton, Virginia --
fbredimus@aol.com -- tells the U.S. Bankruptcy Court for the
Eastern District of Virginia.  He contends that if the Court
approves the Debtor to sign a contract for the sale of Stream
Credits through the Loudoun Mitigation Bank, the Debtor could
possibly receive funds from LMB for LMB's creation and sale of
those Stream Credits and these funds would not be generated
through a means forbidden by law.

If the Court does not approve the Debtor's contract to sell the
Stream Credits or if LMB is unable to create and sell Stream
Credits then the Debtor will receive no funds from the sale of the
Stream credits and the Debtor will still have free and clear
assets with which to fund its Plan, Mr. Bredimus asserts.

To resolve LPR's issue over the Debtor's failure to identify Joe
Bane as an insider that would be employed as the Manager of the
Debtor after Plan confirmation, the Debtor says it will file
through BOPS an order, amending the Plan to show that Mr. Bane
will continue as the Sole Manager of the Debtor and that to date,
he has not been compensated in any way for his work for the
Debtor.

LPR is mistaken that all classes of creditors must accept the plan
in order for the Debtor to receive confirmation of its Plan, Mr.
Bredimus further contends.  He argues that the Plan is confirmable
using the cramdown powers contained in Section 1129(b) of the
Bankruptcy Code.

                      About Loudoun Heights

Loudoun Heights, LLC, filed a Chapter 11 petition (Bankr. E.D. Va.
Case No. 13-15588) on Dec. 16, 2013.  The Debtor disclosed total
assets of $13.10 million and total debts of $4.84 million.  The
petition was signed by Joe Bane as sole manager.  Frank Bredimus,
Esq., at Law Office of Frank Bredimus, serves as the Debtor's
counsel.  Judge Brian F. Kenney presides over the case.

As reported in the Troubled Company Reporter on April 22, 2014,
the Debtor in early April filed an amended disclosure statement
explaining its proposed plan of reorganization.  According to the
disclosure statement, all classes of creditors will be paid in
full.  The proceeds from the sale of the Debtor's assets will be
sufficient to pay the Claims of all secured, priority unsecured
and general unsecured creditors, and court-approved professionals.
The Debtor expects $4.37 million to $9.92 million in revenue from
the sale of all assets.


LOVE CULTURE: Salus Financing Wins Final Court Approval
-------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Love Culture Inc., a clothing chain for young
women and girls, got final approval of a financing package from
pre-bankruptcy secured lender Salus Capital Partners LLC that was
initially opposed by the official committee of unsecured
creditors.  According to the report, U.S. Bankruptcy Judge Novalyn
L. Winfield signed an order Sept. 4 giving Love Culture access to
as much as $12 million on a revolving loan from Salus and allowing
the debtor to use cash representing the secured lender's
collateral on a final basis.

                       About Love Culture

Love Culture Inc. filed a Chapter 11 bankruptcy petition (Bankr.
D. N.J. Case No. 14-24508) on July 16, 2014.  J.E. Rick Bunka
signed the petition as chief restructuring officer.  The Debtor
estimated assets of $10 million to $50 million and liabilities of
at least $10 million.  Judge Novalyn L. Winfield presides over the
case.

Lowenstein Sander LLP acts as the Debtor's counsel.
PricewaterhouseCoopers LLP serves as the Debtor's financial
advisor.  Epiq Systems is the Debtor's claims and noticing agent.
Consensus Advisory Service LLC and Consensus Securities LLC is the
Debtor's investment banker.

On July 23, 2014, the U.S. Trustee for Region 3 appointed GGP
Limited Partnership, Simon Property Group Inc. and Washington
Prime Group Inc., The Macerich Co., Lux Design & Construction
Limited, and Touch Me Fashion Inc. to serve as members of the
official committee of unsecured creditors.  New York-based law
firm Cooley, LLP serves as the committee's counsel.  FTI
Consulting, Inc., serves as the Committee's financial advisors.


MEE APPAREL: Court Confirms Liquidation Plan
--------------------------------------------
The U.S. Bankruptcy Court has entered an order (i) approving the
Disclosure Statement as containing adequate information for Mee
Apparel LLC's and Mee Direct LLC's Plan of Orderly Liquidation;
and (ii) confirming the Plan.

To address the objection of Artech Print S.A.S. and C.I.
Techniprint S.A.S and the informal objections received from the
Office of the U.S. Trustee, the Texas Comptroller of Public
Accounts and the Michigan Department of Treasury, the Court said
the Plan is modified as, among other things:

   (a) The following sentence will be added to Article 2.1 of the
Plan: "Notwithstanding the foregoing, pursuant to 11 U.S.C. Sec.
501(b)(1)(D), Governmental Units are not required to file requests
for payment of Administrative Expense Claims."

   (b) The following sentence will be added to Article 2.3 of the
Plan: "In the event the Michigan Department of Treasury's Priority
Tax Claim is not satisfied on the Effective Date, such Priority
Tax Claim will accrue interest at the Michigan Treasury's current
interest rate."

   (c) The following sentence will also be added to Article 2.3 of
the Plan: "Upon the Debtors' failure to make any payment due to
the Michigan Department of Treasury that is not cured within 30
days of the mailing of a written notice of default, Michigan
Department of Treasury will be permitted to seek appropriate
relief from the Bankruptcy Court for authority to exercise its
rights and remedies as against the Debtors."

                   Michigan Treasury's Objection

Assistant Attorney General Margaret A. Bartindale, Esq.,
representing Michigan Treasury, related that Michigan Treasury
filed two claims against MEE Direct LLC.  The claims are (1) a
priority tax claim in the amount of $54,609.08; and (2) a general
unsecured claim in the amount of $6,007.

Michigan Treasury objected to the extent that the Plan attempts to
disallow Michigan Treasury's general unsecured claim for the
penalties related to the debt on its priority tax claim.  Further,
Michigan Treasury complains that the Debtors' Plan fails to
provide for the payment of interest on all priority tax claims
that are not paid in full on the effective date.

Michigan Treasury also objected to the Debtors' Plan to the extent
that it attempts to extinguish Michigan Treasury's setoff rights.
Michigan Treasury's setoff rights survive confirmation of a plan.

In addition, Michigan Treasury objected to the extent that the
Debtors' Plan attempts to discharge liabilities of corporate
officers and/or other non-debtors, which violates Section 524(e)
of the Bankruptcy Code.  Such language precludes confirmation of
the Plan because a court cannot discharge the liabilities of a
non-debtor.

Michigan Treasury objected to the Debtors' Plan to the extent that
it attempts to waive Treasury's statutory rights to enforce their
claims against corporate officers.  According to Michigan
Treasury, it is inappropriate and in contravention of Michigan law
for the Debtors to attempt to release, waive, or restrict the
Michigan Treasury's rights against those third-parties.

Michigan Treasury related that its priority and general unsecured
tax claims are based, in large part, upon estimated tax
liabilities.  In order to assess actual debt, Michigan Treasury
requests that that Debtor file annual returns for sales, use, and
withholding taxes (with supporting schedules and monthly
worksheets) for December 2009 through March 2014.

                    Artech and CIT's Objection

Artech and CIT filed Claim Nos. 181, 182, 183 and 184.  Each of
the claims were filed "with a full reservation of [its] rights and
remedies" in an action pending in the Supreme Court of the State
of New York.

Representing Artech and CIT, Harlan M. Lazarus, Esq., of Lazarus &
Lazarus P.C., told the Court that "Article 8.1 Term of Bankruptcy
Injunction or Stays" of the Debtors' Plan is overbroad as written.
Article 8.1 of the Plan impermissibly seeks a third party release
in connection with the State Court Defendants or others as to
Artech and CIT and others.  The Debtors have made no showing as to
the appropriateness of the third party release and, accordingly,
the Plan, as written, should not be approved.

                        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.

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.

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.


MF GLOBAL: Former Officers Spent $48-Mil. in Defense Costs
----------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that former officers and directors of MF Global
Holdings Ltd. have already spent more than $48 million defending
themselves in lawsuits.  According to the report, U.S. Bankruptcy
Judge Martin Glenn, who called the amount "staggering,"
nevertheless gave the former executives almost unlimited access to
the remainder of $225 million in directors' and officers'
liability insurance.

The Bloomberg report related that Judge Glenn said the insurance
policy lost status as "estate property" given the advanced stage
of the bankruptcies, and since the insurance isn't estate
property, he can no longer regulate how it's used.

                        About MF Global

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

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

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

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

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

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

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

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

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

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

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


MISSION NEW ENERGY: Appoints Non-Executive Director
---------------------------------------------------
Mission NewEnergy Limited appointed Mr. Mohd Azlan bin Mohammed as
a non-independent non-executive director of the Company effective
Sept. 15, 2014.

Mr. Mohd Azlan was nominated by Karisma Integrasi Sdn Bhd, a
Malaysian incorporated company in which he holds a major equity
interest and serves as a director.  Karisma Integrasi Sdn Bhd owns
a 19.33% equity interest in Mission NewEnergy Limited.

Mr. Mohd Azlan, aged 53, is a Malaysian and is currently the
managing director of Wasco Oilfield Services Sdn Bhd, which is
principally involved in the provision of oil and gas services
internationally.  He is responsible for overseeing the business
operations of Wasco, a subsidiary of Bursa Malaysia listed Wah
Seong Corporation Berhad and also sits on the board of its various
subsidiaries.

He is also the Chairman of Indra Technology Solutions Malaysia Sdn
Bhd, a subsidiary of Indra Sistemas, S.A. of Spain.  The company
designs, develops, produces, integrates, and maintains systems,
solutions, and services based on advanced information
technologies.

In August 2014, Mr. Mohd Azlan was appointed as an Independent
Non-Executive Director of Multi-Purpose Insurans Bhd, a leading
Malaysian insurance company.

Mr. Mohd Azlan holds a Bachelor of Arts Degree (Honours) majoring
in Accounting and Business.

In welcoming Mr Mohd Azlan to the board, Datuk Zain Yusuf,
Chairman of Mission NewEnergy said, "I am delighted to welcome
Azlan to the Mission Board.  Azlan brings with him a wealth of
industry knowledge, relationships and experience and will add
significant value to Mission especially at a time when the Company
has almost completed its restructure and is ready to embark on a
new business strategy."

Mr. Mohd Azlan commented, "I am looking forward to joining the
Board and making a positive contribution to Mission's future
success at an exciting time for the company."

                     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.

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.


MOLYCORP INC: Obtains $260 Million Credit Pact With Oaktree
-----------------------------------------------------------
Molycorp, Inc., unveiled a series of financing arrangements with
OCM MLYCo CTB Ltd., an exempted company formed under the laws of
the Cayman Islands, an affiliate of Oaktree Capital Management,
L.P., as administrative agent and first priority collateral agent.

Molycorp on Sept. 11, 2014, entered into a credit agreement with
OCM.  The Credit Agreement provides for, among other things, a
term loan facility in an amount of $185 million, consisting of:

    $50.167 million term loan advanced at the initial funding and
   $134.833 million of delayed draw term loans to be advanced,

subject to the satisfaction of certain conditions, including:

     (i) consolidated adjusted EBITDA of not less than $20 million
for each of two consecutive fiscal quarters; and

    (ii) evidence that production at the mineral and chemical
manufacturing facility owned by Molycorp Minerals, LLC, and
located in Mountain Pass, California is equal to or greater than
4,000 metric tons for each of two consecutive fiscal quarters, in
each case prior to, but including, the fiscal quarter ending on
March 31, 2016.

Draws on the delayed draw term loans must be in minimum amounts of
$50 million and may be drawn at any time after meeting the
applicable conditions until April 30, 2016.  The daily average
unused amount of the delayed draw term loan commitment is subject
to an unused commitment enhancement payment of 1.00% per annum.

The proceeds of the loans advanced under the Parent Credit
Agreement will be used to fund capital expenditures, pay interest
expense, and for general corporate purposes.

The interest rates per annum applicable to the loans under the
Credit Agreements are:

  (i) from the closing date through June 14, 2016, 7.00% per annum
      payable in cash and 5.00% per annum payable in kind; and

(ii) from June 15, 2016, and thereafter, 12.00% per annum payable
      in cash, unless the 3.25% Convertible Senior Notes of the
      Company Due 2016 have been repaid in full with the proceeds
      of the sale of common equity of the Company or by the
      exchange of such Notes for common equity of the Company, or
      any combination thereof, in which case, interest shall
      accrue as provided in clause (i).

The Credit Agreements mature on Sept. 11, 2019, with springing
maturity dates at (i) April 30, 2016, if the Company has not
repaid, escrowed or extended an amount of cash sufficient to repay
when due and payable the 2016 Notes, down to $40 million in the
aggregate and (ii) March 31, 2017, if the Company has not repaid
or escrowed an amount of cash sufficient to repay when due and
payable (a) the 6.00% Convertible Senior Notes of the Company Due
2017, down to $80.0 million in the aggregate and (b) the 5.50%
Convertible Senior Notes of the Company Due 2018, down to $40
million in the aggregate.

In connection with the completion of the Financings, the Company
issued warrants to Oakree to purchase up to an aggregate of
24,477,395 shares of the Company's common stock.  Warrants to
purchase up to an aggregate of 18,358,019 shares of Common Stock
have an exercise price of $.01 per share, and Warrants to purchase
up to an aggregate of 6,119,340 shares of Common Stock have an
exercise price of $2.04 per share.

                           About Molycorp

Molycorp -- http://www.molycorp.com-- produces a wide variety of
specialized products from 13 different rare earths (lights, mids
and heavies), the transition metal yttrium, and five rare metals
(gallium, indium, rhenium, tantalum and niobium). With 26
locations across 11 countries, Molycorp also produces rare earth
magnetic materials through its Molycorp Magnequench subsidiary,
including neodymium-iron-boron ("NdFeB") magnet powders, used to
manufacture bonded NdFeB permanent rare earth magnets. Through its
joint venture with Daido Steel and the Mitsubishi Corporation,
Molycorp manufactures next-generation, sintered NdFeB permanent
rare earth magnets.  The Company also markets and sells a line of
rare earth-based water treatment products.

The Company's balance sheet at June 30, 2014, showed $2.83 billion
in total assets, $1.61 billion in total liabilities and $1.21
billion in total stockholders' equity.

                            *   *    *

As reported by the TCR on June 23, 2014, Moody's Investors Service
downgraded the corporate family rating (CFR) of Molycorp, Inc. to
Caa2 from Caa1.  The downgrade reflects continued weakness in rare
earths pricing environment, ongoing negative free cash flows, weak
liquidity and high leverage.

In July, 2014, Standard & Poor's Rating Services lowered its
corporate credit rating on Greenwood Village, Colo.-based Molycorp
Inc. to 'CCC' from 'CCC+.  The downgrade reflects S&P's view of
the company's deteriorating liquidity position.


MOLYCORP INC: Magnequench Unit Gets $75MM Term Loan From Oaktree
----------------------------------------------------------------
Magnequench, Inc., an indirect subsidiary of Molycorp, Inc., on
Sept. 11, 2014, entered into a credit agreement with the lenders
party thereto and OCM MLYCo CTB Ltd., an exempted company formed
under the laws of the Cayman Islands, an affiliate of Oaktree
Capital Management, L.P., as administrative agent and first
priority collateral agent.

The Magnequench Credit Agreement provides for, among other things,
a term loan facility in an amount of $75 million, consisting of:

     $60 million term loan advanced at the initial funding and
     $15 million of delayed draw term loans to be advanced,

subject to the satisfaction of certain conditions, in minimum
amounts of $5 million after the closing date and until April 30,
2016.  The daily average unused amount of the delayed draw term
loan commitment is subject to an unused commitment enhancement
payment of 1.00% per annum.

The proceeds of the loans advanced under the Magnequench Credit
Agreement shall be used to satisfy certain intercompany
obligations and to make certain intercompany loans.

The interest rates per annum applicable to the loans under the
Credit Agreements are:

  (i) from the closing date through June 14, 2016, 7.00% per annum
      payable in cash and 5.00% per annum payable in kind; and

(ii) from June 15, 2016, and thereafter, 12.00% per annum payable
      in cash, unless the 3.25% Convertible Senior Notes of the
      Company Due 2016 have been repaid in full with the proceeds
      of the sale of common equity of the Company or by the
      exchange of such Notes for common equity of the Company, or
      any combination thereof, in which case, interest shall
      accrue as provided in clause (i).

The Credit Agreements mature on Sept. 11, 2019, with springing
maturity dates at (i) April 30, 2016, if the Company has not
repaid, escrowed or extended an amount of cash sufficient to repay
when due and payable the 2016 Notes, down to $40 million in the
aggregate and (ii) March 31, 2017, if the Company has not repaid
or escrowed an amount of cash sufficient to repay when due and
payable (a) the 6.00% Convertible Senior Notes of the Company Due
2017, down to $80.0 million in the aggregate and (b) the 5.50%
Convertible Senior Notes of the Company Due 2018, down to $40
million in the aggregate.

                           About Molycorp

Molycorp -- http://www.molycorp.com-- produces a wide variety of
specialized products from 13 different rare earths (lights, mids
and heavies), the transition metal yttrium, and five rare metals
(gallium, indium, rhenium, tantalum and niobium). With 26
locations across 11 countries, Molycorp also produces rare earth
magnetic materials through its Molycorp Magnequench subsidiary,
including neodymium-iron-boron ("NdFeB") magnet powders, used to
manufacture bonded NdFeB permanent rare earth magnets. Through its
joint venture with Daido Steel and the Mitsubishi Corporation,
Molycorp manufactures next-generation, sintered NdFeB permanent
rare earth magnets.  The Company also markets and sells a line of
rare earth-based water treatment products.

The Company's balance sheet at June 30, 2014, showed $2.83 billion
in total assets, $1.61 billion in total liabilities and $1.21
billion in total stockholders' equity.

                            *   *    *

As reported by the TCR on June 23, 2014, Moody's Investors Service
downgraded the corporate family rating (CFR) of Molycorp, Inc. to
Caa2 from Caa1.  The downgrade reflects continued weakness in rare
earths pricing environment, ongoing negative free cash flows, weak
liquidity and high leverage.

In July, 2014, Standard & Poor's Rating Services lowered its
corporate credit rating on Greenwood Village, Colo.-based Molycorp
Inc. to 'CCC' from 'CCC+.  The downgrade reflects S&P's view of
the company's deteriorating liquidity position.


MOLYCORP INC: Minerals Inks Sale-Leaseback Deal With Oaktree Unit
-----------------------------------------------------------------
Molycorp, Inc., disclosed that in connection with the Credit
Agreements with the lenders led by OCM MLYCo CTB Ltd. -- an
exempted company formed under the laws of the Cayman Islands, an
affiliate of Oaktree Capital Management, L.P., as administrative
agent and first priority collateral agent -- Molycorp Minerals,
the Company's subsidiary, entered into a sale and leaseback
transaction with OCM as lessor.

As part of the Sale Leaseback Transaction, Molycorp Minerals
entered into a purchase and sale agreement with OCM, dated Sept.
11, 2014, pursuant to which Molycorp Minerals sold certain
equipment it owned located at the Mountain Pass Facility and, in
exchange, received proceeds of $139.833 million.

The proceeds of the purchase price received by Molycorp Minerals
will be, to the extent they have not already been, used for the
development and improvement of the Equipment and other assets of
the Company and its subsidiaries at the Mountain Pass Facility,
provided that, to the extent permitted under the indenture
governing the Senior Notes, such proceeds may also be used for
interest expense and other general corporate purposes.

Concurrently with entering into the Purchase and Sale Agreement,
Molycorp Minerals and OCM, as Lessor, entered into an equipment
lease agreement, whereby Molycorp Minerals leased back all of the
Equipment.  The Equipment Lease Agreement is structured as a
triple net, full payment, financing lease with a five-year term
and a $1 purchase option at the end of the lease term.  There is
no early termination option contained in the Equipment Lease
Agreement except that under certain circumstances constituting an
event of loss, Molycorp Minerals will be allowed to terminate the
Equipment Lease Agreement by paying all outstanding amounts due
and payable under the lease plus the appropriate stipulated value
noted therein.  Rent will be due and payable quarterly in arrears
during the lease term.

The Equipment Lease Agreement calls for the payment of
approximately $10.115 million in the first year, $10.667 million
in the second year, $11.188 million in the third year, $11.766
million in the fourth year and $12.374 million in the fifth year
with an additional payment of approximately $179.911 million on
the fifth anniversary of the lease commencement date; provided,
that unless the 2016 Notes Equity Refinancing has occurred by June
15, 2016, rent will be adjusted to require higher annualized rent
payments from years two through five with a reduced additional
payment on the fifth anniversary of the lease commencement date.

                           About Molycorp

Molycorp -- http://www.molycorp.com-- produces a wide variety of
specialized products from 13 different rare earths (lights, mids
and heavies), the transition metal yttrium, and five rare metals
(gallium, indium, rhenium, tantalum and niobium). With 26
locations across 11 countries, Molycorp also produces rare earth
magnetic materials through its Molycorp Magnequench subsidiary,
including neodymium-iron-boron ("NdFeB") magnet powders, used to
manufacture bonded NdFeB permanent rare earth magnets. Through its
joint venture with Daido Steel and the Mitsubishi Corporation,
Molycorp manufactures next-generation, sintered NdFeB permanent
rare earth magnets.  The Company also markets and sells a line of
rare earth-based water treatment products.

The Company's balance sheet at June 30, 2014, showed $2.83 billion
in total assets, $1.61 billion in total liabilities and $1.21
billion in total stockholders' equity.

                            *   *    *

As reported by the TCR on June 23, 2014, Moody's Investors Service
downgraded the corporate family rating (CFR) of Molycorp, Inc. to
Caa2 from Caa1.  The downgrade reflects continued weakness in rare
earths pricing environment, ongoing negative free cash flows, weak
liquidity and high leverage.

In July, 2014, Standard & Poor's Rating Services lowered its
corporate credit rating on Greenwood Village, Colo.-based Molycorp
Inc. to 'CCC' from 'CCC+.  The downgrade reflects S&P's view of
the company's deteriorating liquidity position.


MOMENTIVE PERFORMANCE: BOKF Wants Payment of Fees and Expenses
--------------------------------------------------------------
BOKF, NA, in its capacity as first lien trustee, asks the
Bankruptcy Court to compel MPM Silicones, LLC, et al., to comply
with the Court's final order authorizing the Debtors to obtain
postpetition financing; use cash collateral; and grant adequate
protection to prepetition secured lenders.

Specifically, the First Lien Trustee requests that the Court (i)
compel the Debtors to comply through payment of all reasonable
fees and expenses of legal counsel to the First Lien Trustee that
are payable under the First Lien Documents.

BOKF, NA, as successor indenture trustee, under the indenture
dated as of Oct. 25, 2012, as supplemented by the supplemental
indenture, dated as of Nov. 12, 2012, for the 8.875% First-
Priority Senior Secured Notes due 2020 issued by Debtor Momentive
Performance Materials Inc. and guaranteed by certain of the
debtors, said that the final DIP order provides -- as adequate
protection in favor of the First Lien Trustee and the holders of
the First Lien Notes, among other things -- the payment of all
reasonable fees and expenses of legal counsel to the First Lien
Trustee that are payable under the First Lien Documents.

The First Lien Trustee noted that the Debtors have made payments
in respect of professional fees for other non-estate retained
professionals, including the respective legal and financial
advisors to Apollo and the Ad Hoc Committee of Second Lien
Noteholders.

BOKF is represented by:

         Michael J. Sage, Esq.
         Brian E. Greer, Esq.
         Mauricio A. Espana, Esq.
         DECHERT LLP
         1095 Avenue of the Americas
         New York, NY 10036-6797
         Tel: (212) 698-3500
         Fax: (212) 698-3599

              - and -

         Jeffrey M. Reisner, Esq.
         Alan J. Friedman, Esq.
         Michael H. Strub, Jr., Esq.
         IRELL & MANELLA LLP
         840 Newport Center Drive, Suite 400
         Newport Beach, CA 92660

                   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.

Wilmington Trust, National Association, the Trustee for the
Momentive Performance Materials Inc. 10% Senior Secured Notes due
2020 -- 1.5 Lien Notes -- under the Indenture, dated as of May 25,
2012, by and between Momentive Performance Materials Inc. and The
Bank of New York Mellon Trust Company, National Association, is
represented by Mark R. Somerstein, Esq., Mark I. Bane, Esq., and
Stephen Moeller-Sally, Esq., at Ropes & Gray LLP.

U.S. Bank National Association -- as successor Indenture Trustee
under the indenture dated as of December 4, 2006, among Momentive
Performance Materials Inc., the Guarantors named in the Indenture,
and Wells Fargo Bank, N.A. as initial trustee, governing the 11.5%
Senior Subordinated Notes due 2016 -- is represented in the case
by Susheel Kirpalani, Esq., Benjamin I. Finestone, Esq., David L.
Elsberg, Esq., Robert Loigman, Esq., K. John Shaffer, Esq., and
Matthew R. Scheck, Esq., at Quinn Emanuel Urquhart & Sullivan,
LLP; and Clark Whitmore, Esq., and Ana Chilingarishvili, Esq., at
Maslon Edelman Borman & Brand, LLP.

BOKF, NA -- as successor First Lien Trustee to The Bank of New
York Mellon Trust Company, N.A., as trustee under an indenture
dated as of October 25, 2012, for the 8.875% First-Priority Senior
Secured Notes due 2020 issued by Momentive Performance Materials
Inc. and guaranteed by certain of the debtors -- is represented by
Michael J. Sage, Esq., Brian E. Greer, Esq., and Mauricio A.
Espana, Esq., at Dechert LLP.

Counsel to Apollo Global Management, LLC and certain of its
affiliated funds are Ira S. Dizengoff, Esq., Philip C. Dublin,
Esq., Abid Qureshi, Esq., Deborah J. Newman, Esq., and Ashleigh L.
Blaylock, Esq., at Akin Gump Strauss Hauer & Feld LLP.

Attorneys for Ad Hoc Committee of Second Lien Noteholders are
Dennis F. Dunne, Esq., Michael Hirschfeld, Esq., and Samuel A.
Khalil, Esq., at Milbank, Tweed, Hadley & McCloy LLP.


MORGANS HOTEL: Director Derex Walker Quits
------------------------------------------
Derex Walker provided notice to Morgans Hotel Group Co. of his
resignation from the Board of Directors of the Company, effective
Sept. 11, 2014, according to a Form 8-K report filed with the U.S.
Securities and Exchange Commission.

                     About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

Morgans Hotel has been in the red the past five years.  It
reported a net loss attributable to common stockholders of $57.48
million on $236.48 million of total revenues for the year ended
Dec. 31, 2013, as compared with a net loss attributable to common
stockholders of $66.81 million on $189.91 million of total
revenues in 2012.  Morgans Hotel posted a net loss of $87.95
million on $207.33 million of total revenues in 2011, a net loss
of $83.64 million on $236.37 million of total revenues in 2010,
and a net loss of $101.60 million on $225.05 million of total
revenues in 2009.

As of June 30, 2014, the Company had $684.79 million in total
assets, $896.03 million in total liabilities, $5.38 million in
redeemable noncontrolling interest and a $216.62 million total
deficit.


NAARTJIE CUSTOM: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Naartjie Custom Kids, Inc.
        3676 W California Ave., Suite D-100
        Salt Lake City, UT 84104

Case No.: 14-29666

Type of Business: Designs, manufactures and sells children's
                  clothing, accessories and footwear for ages
                  newborn through 10 years old.

Chapter 11 Petition Date: September 12, 2014

Court: United States Bankruptcy Court
       District of Utah (Salt Lake City)

Judge: Hon. William T. Thurman

Debtor's Counsel: Annette W. Jarvis, Esq.
                  Jeffrey M. Armington, Esq.
                  DORSEY & WHITNEY LLP
                  136 South Main Street, Suite 1000
                  Salt Lake City, UT 84101-1655
                  Tel: (801) 933-7360
                  Fax: (801) 933-7373
                  Email: jarvis.annette@dorsey.com
                         armington.jeff@dorsey.com

                    - and -

                  Benjamin J. Kotter, Esq.
                  DORSEY & WHITNEY, LLP
                  136 South Main Street, Suite 1000
                  Salt Lake City, UT 84101-1655
                  Tel: (801) 933-7360
                  Fax: (801) 933-7373
                  Email: kotter.benjamin@dorsey.com

                    - and -

                  Michael F. Thomson tr, Esq.
                  DORSEY & WHITNEY LLP
                  136 South Main Street, Suite 1000
                  Salt Lake City, UT 84101-1685
                  Tel: (801) 933-7360
                  Fax: (801) 933-7373
                  Email: thomson.michael@dorsey.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Jeff Nerland, chief restructuring
officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Affiliate Traction                 Marketing            $8,834

American Express                   Credit Card         $10,448

BCNY International, Inc.           Product            $177,867

Bill Rudisill                      Conv. Debenture    $118,862

George Rankin                      Conv. Debenture     $36,411

Inetz Media Group                  Web services         $7,418

Joyce Summervillle                 Conv. Debenture     $21,433

Julian Trust (Julian Marcus)       Conv. Debenture     $12,285

Mark S. Rzepczynski                Conv. Debenture     $59,066

Mid-America Overseas, Inc.         Shipping           $237,652

Patricia Chatham                   Conv. Debenture    $172,150

Precision Graphics                 Graphic services     $6,336

Richard J. Burks                   Conv. Debenture     $10,798

Rita Wood                          Conv. Debenture     $25,553

Shannon Miller                     Conv. Debenture     $56,855

Soxnet, Inc.                       Product             $32,317

Target Ease International          Product          $3,432,331
11/F., Winful Industrial Bldg.
1517 Tai Yip Street, Kwun
Tong, HK
Hong Kong

The Travelers Indemnity Company    Insurance            $9,031

U.S. Customs Services              Import fees        $147,632

UPS                                Shipping            $70,537


NET ELEMENT: Presented at SeeThruEquity Conference
--------------------------------------------------
Net Element, Inc., gave a presentation at the SeeThruEquity
Conference on Sept. 11, 2014.  Topics of the presentation
included:

   * Family brands
   * Investment highlights
   * Management team
   * Business segments
   * Sales and marketing
   * Operations groups
   * Financial performance

A copy of the presentation materials is available at:

                       http://is.gd/lAoXdB

                        About Net Element

Miami, Fla.-based Net Element, Inc. (formerly Net Element
International, Inc.) is a financial technology-driven group
specializing in mobile payments and other transactional services
in emerging countries and in the United States.  Through TOT
Group Russia and Net Element Russia, the Company operates the
Company's international segment focused on transactional services,
mobile payments transactions and other payment technologies in
emerging countries including Russian Federation and the
Commonwealth of Independent States ("CIS").

Net Element reported a net loss of $48.31 million in 2013, as
compared with a net loss of $16.38 million in 2012.

The Company's balance sheet at June 30, 2014, showed $16.57
million in total assets, $22.79 million in total liabilities and a
$6.21 million total stockholders' deficit.

BDO USA, LLP, in Miami, Florida, 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 and has
used substantial amounts of cash to fund its operating activities
that raise substantial doubt about its ability to continue as a
going concern.


NET ELEMENT: Amends Public Offering Prospectus With SEC
-------------------------------------------------------
Net Element, Inc., filed a post-effective amendment to its
registration statement on Form S-4 relating to the public offering
by the Company's common stock upon exercise of certain warrants
issued in connection with the Registrant's initial public
offering.  The amendment was filed in order to maintain the
effectiveness of the Prior Registration Statement to the extent
that such Prior Registration Statement pertains to the shares of
the Company's common stock issuable upon exercise of those
warrants.

The prospectus relates to the issuance and sale by the Company of
up to 4,598,900 shares of its common stock, par value $0.0001 per
share, upon the exercise of warrants that were originally issued
by Cazador Acquisition Corporation Ltd., a blank check company
incorporated as a Cayman Islands exempted company, in connection
with its initial public offering and that became exercisable for
shares of the Company's common stock upon the consummation of the
transactions contemplated by that certain Agreement and Plan of
Merger, dated as of June 12, 2012, by and between Cazador and the
previous legal entity known as Net Element, Inc.

Each Warrant entitles the holder thereof to purchase one share of
the Company's common stock upon payment of the exercise price of
$7.50 per share.  The Company will receive the proceeds from the
exercise of the Warrants, but not from the resale of the
underlying shares of common stock.

The Company's common stock is listed on The NASDAQ Capital Market
under the symbol "NETE." The Warrants are quoted on the Over-the-
Counter Bulletin Board under the symbol "NETEW."  On Sept. 10,
2014, the closing sale prices of the Company's common stock and
the Warrants were $3.80 and $0.22, respectively.

A copy of the amended prospectus is available at:

                       http://is.gd/8bI6qu

                        About Net Element

Miami, Fla.-based Net Element, Inc. (formerly Net Element
International, Inc.) is a financial technology-driven group
specializing in mobile payments and other transactional services
in emerging countries and in the United States.  Through TOT
Group Russia and Net Element Russia, the Company operates the
Company's international segment focused on transactional services,
mobile payments transactions and other payment technologies in
emerging countries including Russian Federation and the
Commonwealth of Independent States ("CIS").

Net Element reported a net loss of $48.31 million in 2013, as
compared with a net loss of $16.38 million in 2012.

The Company's balance sheet at June 30, 2014, showed $16.57
million in total assets, $22.79 million in total liabilities and a
$6.21 million total stockholders' deficit.

BDO USA, LLP, in Miami, Florida, 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 and has
used substantial amounts of cash to fund its operating activities
that raise substantial doubt about its ability to continue as a
going concern.


NEW LIFE INT'L: Gets Final Chapter 11 Plan Approval
---------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that New Life International, a Nashville, Tennessee-based
charitable organization, received final approval of its Chapter 11
liquidating plan on Sept. 2 after the state attorney general
withdrew objection.  According to the report, the final approval
follows a conditional approval given by the bankruptcy court in
August, subject to further review by the attorney general.

                        About New Life

New Life International, a religious corporation originally
incorporated under the name "World Bible Society", sought Chapter
11 bankruptcy protection (Bankr. M.D. Tenn. Case No. 13-bk-10974)
in Nashville, Tennessee, on Dec. 31, 2013.

The Debtor disclosed $44,651,301 in assets and $46,362,805 in
liabilities as of the Chapter 11 filing.

NLI's sources of revenue include donations of goods, money and
other property, investment earnings, sale of Christian-themed
merchandise and earnings from other real estate and operating
entities.  Other names used by the Debtor are the National
Community Foundation, The New Life Group, and Band Angels.

The Debtor has tapped Gullett Sanford Robinson & Martin, PLLC as
attorneys and Kraft CPAs Turnaround & Restructuring Group, PLLC,
as financial consultant.

The U.S. Trustee for Region 8 appointed an official committee of
unsecured creditors consisting of Robert T. Abbotts, Dorothy F.
Mack, James D. Rice, Richard M. Taylor, and Sharon L. Upton-Rice.
Bradley, Arant, Boult, Cumming LLP serves as counsel to the
Committee.


NEW WORLD RESOURCES: Pushes Through EUR255-Mil. Restructuring
-------------------------------------------------------------
Law360 reported that a New York bankruptcy judge allowed Central
Europe-focused coal producer New World Resources PLC to effectuate
a consensual agreement with bondholders that will trim EUR255
million (US$330 million) in debt from its balance sheet.
According to the report, ruling from the bench, U.S. Bankruptcy
Judge Stuart M. Bernstein granted full force and effect to NWR's
insolvency proceeding in the U.K., where the company had obtained
court approval of a so-called consensual scheme of arrangement
with secured and unsecured noteholders.

                     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.


NII HOLDINGS: US and Luxembourg-Based Units Seek Chapter 11
-----------------------------------------------------------
NII Holdings, Inc. and eight of its U.S. and Luxembourg domiciled
subsidiaries, including NII Capital Corp. and NII International
Telecom S.C.A., filed on September 15, 2014, voluntary petitions
seeking relief under Chapter 11 of the U.S. Bankruptcy Code in the
United States Bankruptcy Court for the Southern District of New
York, as the first step to restructuring its debt obligations and
to improve the Company's liquidity.

The Company has been in discussions with its major stakeholders
over the last several months and is optimistic that those
discussions will lead to a debt restructuring plan that will be
reflected in a plan of reorganization that will be submitted in
the proceedings in the near future.

In August, Standard & Poor's Ratings Services downgraded the
Company's corporate credit rating to default 'D' from 'CC'; and
Moody's Investors Service cut its corporate family rating to Caa2
from Caa1, following the Company's failure to pay interest due
Aug. 15, 2014, on $4.4 billion of debt issued by intermediate
holding companies NII Capital Corp. and NII International Telecoms
S.C.A.

The missed interest payment on the debt, S&P noted, follows the
Company's deteriorating operating performance, weak liquidity, and
breach of its financial maintenance covenants for the bank loans
in Brazil and vendor facilities in Brazil and in Mexico, although
it did receive a temporary waiver to the vendor facilities'
covenants for the June 30, 2014 measurement date.

As reported by the Troubled Company Reporter, NII Holdings
reported net loss of $623.31 million on $968.75 million of
operating revenues for the three months ended June 30, 2014,
compared to a net loss of $396.35 million on $1.26 billion of
operating revenues for the same period last year.  The Company's
balance sheet at June 30, 2014, showed $7.44 billion in total
assets, $8.02 billion in total liabilities and a stockholders'
deficit of $583.55 million.

The Company's operating subsidiaries in Brazil, Mexico and
Argentina are not part of the U.S. bankruptcy proceedings and will
continue to operate on a "business as usual" basis.

The Debtors will continue to operate as "debtors-in-possession"
under the jurisdiction of the Court and in accordance with the
applicable provisions of the Bankruptcy Code and orders of the
Court.  The Company is expected to maintain normal, day-to-day
operations during the course of the Chapter 11 Cases.

The commencement of the Chapter 11 Cases constitutes an event of
default that accelerated the Company's obligations under these
debt instruments:

     -- Indenture governing $800,000,000 in outstanding principal
amount of 10% senior notes due 2016, dated as of August 18, 2009,
by and between NII Capital Corp., the guarantors parties thereto
and Wilmington Savings Fund Society, FSB, as successor trustee to
Wilmington Trust Company, as supplemented by that certain
Supplemental Indenture No. 1, dated as of February 8, 2010, that
certain Supplemental Indenture No. 2, dated as of March 8, 2010,
and that certain Supplemental Indenture No. 3, dated as of May 28,
2010;

     -- Indenture governing $500,000,000 in outstanding principal
amount of 8.875% senior notes due 2019, dated as of December 15,
2009, by and between NII Capital Corp., the guarantors parties
thereto and U.S. Bank National Association, as successor trustee
to Wilmington Trust Company, as supplemented by that certain
Supplemental Indenture No. 1, dated as of March 8, 2010, and that
certain Supplemental Indenture No. 2, dated as of May 28, 2010;

     -- Indenture governing $1,450,000,000 in outstanding
principal amount of 7.625% senior notes due 2021, dated as of
March 29, 2011, by and between NII Capital Corp., the guarantors
parties thereto and Wilmington Savings Fund Society, FSB, as
successor trustee to Wilmington Trust Company, as supplemented by
that certain First Supplemental Indenture, dated as of December 8,
2011;

     -- Indenture governing $900,000,000 in outstanding principal
amount of 11.375% senior notes due 2019, dated as of February 19,
2013, by and between NII International Telecom S.C.A., NII
Holdings, Inc. and Wilmington Trust, National Association, as
trustee, as supplemented by that certain First Supplemental
Indenture, dated April 15, 2013; and

     -- Indenture governing $700,000,000 in outstanding principal
amount of 7.875% senior notes due 2019, dated May 23, 2013, among
NII International Telecom, S.C.A., NII Holdings, Inc. and
Wilmington Trust, National Association, as trustee.

The Debt Documents provide that as a result of the commencement of
the Chapter 11 Cases the principal and accrued interest due
thereunder shall be immediately due and payable. Any efforts to
enforce those payment obligations under the Debt Documents are
automatically stayed as a result of the filing of the Petitions
and the holders' rights of enforcement in respect of the Debt
Documents are subject to the applicable provisions of the
Bankruptcy Code.

                         About NII Holdings

NII Holdings, Inc. [NASDAQ: NIHD] -- http://www.nii.com/-- a
publicly held company based in Reston, Va., provides
differentiated mobile communication services for businesses and
high value consumers in Latin America. NII Holdings, operating
under the Nextel brand in Brazil, Mexico and Argentina, offers
fully integrated wireless communications tools with digital
cellular voice services, data services, wireless Internet access
and Nextel Direct Connect(R) and International Direct ConnectSM, a
digital two-way radio.

NII Holdings is a Fortune 500 and Barron's 500 company, and has
also been named one of the best places to work among
multinationals in Latin America by the Great Place to Work(R)
Institute. The Company trades on the NASDAQ market under the
symbol NIHD.


NII HOLDINGS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                    Case No.
      ------                                    --------
      NII Holdings, Inc.                        14-12611
      1875 Explorer Street, Suite 1000
      Reston, VA 20190

      Nextel International (Services), Ltd.     14-12612

      NII Capital Corp.                         14-12613

      NII Aviation, Inc.                        14-12614

      NII Funding Corp.                         14-12615

      NII Global Holdings, Inc.                 14-12616

      NII International Holdings S.a r.l.       14-12617

      NII International Services S.a r.l.       14-12618

         NII International Telecom S.C.A.          14-12619

Type of Business: NII Holdings, Inc., is the ultimate parent and
                  holding company for its debtor and non-debtor
                  affiliates.  Certain of the Debtors' non-debtor
                  affiliates provide wireless communication
                  services under the NextelTM brand name for
                  businesses and consumers in Latin America.

Chapter 11 Petition Date: September 15, 2014

Court: United States Bankruptcy Court
       Southern District of New York

Judge: Hon. Shelley C. Chapman

Debtors' Counsel: Scott Greenberg, Esq.
                  JONES DAY
                  222 East 41st Street
                  New York, NY 10017
                  Tel: (212) 326-3939
                  Fax: (212) 755-7306
                  Email: sgreenberg@jonesday.com

                    - and -

                  David G. Heiman, Esq.
                  Carl E. Black, Esq.
                  JONES DAY
                  North Point
                  901 Lakeside Avenue
                  Cleveland, Ohio 44114
                  Tel: (216) 586-3939

Debtors'          ALVAREZ & MARSAL NORTH AMERICA, LLC
Restructuring     Two Alhambra Plaza, Suite 1101
Advisors:         Miami, FL 33134
                  Tel: 305-704-6700
                  Fax: 305-704-6701
                  Attn: Byron Smyl
                  E-mail: bsmyl@alvarezandmarsal.com

Debtors'          ROTHSCHILD, INC.
Financial
Advisors:

Debtors'          MCKINSEY RECOVERY & TRANSFORMATION SERVICES
Management        U.S., LLC
Consultants:

Debtors'          PRIME CLERK LLC
Claims and
Noticing Agent:

Total Assets: $2.88 billion as of June 30, 2014

Total Debts: $3.47 billion as of June 30, 2014

The petition was signed by Daniel E. Freiman, treasurer, vice-
president- corporate development & investor relations.

Consolidated List of Debtors' 20 Largest Unsecured Creditors:

   Entity                        Nature of Claim     Claim Amount
   ------                        ---------------     ------------
Wilmington Savings Fund          Bond Debt-        $1,500,674,479
Society, FSB                     7.625% Notes
500 Delaware Avenue
Attn: Patrick J. Healy,
VP and Director
Tel: 302-888-7420
Fax: 302-421-9137
Email: phealy@wsfsbank.com

Wilmington Trust, National       Bond Debt-          $961,728,125
Association as Trustee           11.375% Notes
Rodney Square North
1100 North Market Street
Wilmington, DE 19890
Attn: Joshua C. Jones, CCTS
Tel: 302-636-6484
Fax: 302-636-4149
Email:
jjones2@wilmingtontrust.com

Wilmington Savings Fund          Bond Debt-          $846,666,667
Society, FSB                     10% Notes
500 Delaware Avenue
Wilmington, DE 19801
Attn: Patrick J. Healy
VP and Director
Tel: 302-888-7420
Fax: 302-421-9137
Email: phealy@wsfsbank.com

Wilmington Trust                 Bond Debt-          $732,746,875
National Association             7.875% Notes
as Trustee
Rodney Square North
1100 North Market Street
Wilmington, DE 19890
Attn: Joshua C. Jones, CCTS
Tel: 302-636-6481
Fax: 302-636-4149
Email:
jjones2@wilmingtontrust.com

U.S. Bank National Association      Bond Debt-       $511,093,750
1420 Fifth Avenue, 7th Floor        8.875% Notes
Seattle, WA 98101
Attn: Diana Jacobs
Vice President
Fax: 206-344-4694
Email: diana.jacobs@usbank.com

China Development Bank              Guaranty         Undetermined
Shenzhen Branch
No. 1093 Shennan Zhong Road,
Shenzhen 518031
P.R. China
Attn: Che Nan, Deputy Director
Client Division II
Tel: 86-755-25942783
Fax: 86-755-25987725
Email: chenan@cdb.com

American Tower                      Guaranty         Undetermined
Do Brazil-Cessao
De Infra-Estrutrua-LTDA
c/o American Tower Corporation
116 Huntington Avenue
Boston, MA 02116
Attn: Ed Disanto
Tel: 617-375-7500
Fax: 617-375-7575

Ericsson, Inc.                      Trade Debt          $840,405
Attn: Nina Macpherson
General Counsel
1300 E Woodfield Rd
Schaumburg, IL 60173
Tel: 847-619-6227
Fax: 972-583-2273

American Express Company            Trade Debt           $52,903
Corporate Services Operations
AESP-P
20022 North 31st Ave
Mail Code AZ-08-03-11
Phoenix, AZ 85027
Attn: Thomas Tierney
Senior Vice President
Fax: 623-492-3884

UBS Securites, LLC                  Trade Debt           $32,076

Wilmington Trust
National Association as Trustee     Bond Debt-           $23,082
                                    2.875% Notes

Verizon                             Trade Debt           $20,092

Caten McGuire                       Trade Debt           $14,656

Amazon Web Services, Inc.           Trade Debt            $8,135

Tata Communications                 Trade Debt            $6,233

Expesite, LLC                       Trade Debt            $3,914

Concur Technologies                 Trade Debt            $3,319

Offix, LC                           Trade Debt            $3,142

Clearwater Analytics                Trade Debt            $2,218

Impact Office Products              Trade Debt            $1,997


NPS PHARMACEUTICALS: FDA Recommends Approval of Natpara(R)
----------------------------------------------------------
NPS Pharmaceuticals, Inc., said the U.S. Food and Drug
Administration's (FDA) Endocrinologic and Metabolic Drugs Advisory
Committee voted 8 to 5 that the available data support the
approval of Natpara(R) (rhPTH [1-84]) for the long-term treatment
of Hypoparathyroidism, a rare endocrine disorder characterized by
insufficient levels of parathyroid hormone, or PTH.  The
Committee's recommendation will be considered by the FDA in its
review of the Company's Biologics License Application (BLA) for
Natpara, which has a Prescription Drug User Fee Act (PDUFA) date
of Oct. 24, 2014.

"We are very pleased with the Committee's vote.  Their
recommendation reinforces our belief in the favorable benefit-risk
profile of Natpara and its potential as a long-term treatment
option for Hypoparathyroidism," said Francois Nader, MD, president
and chief executive officer of NPS Pharma.  "As a bioengineered
replacement therapy targeting the underlying cause of the
disorder, Natpara has been shown in clinical studies to maintain
serum calcium while demonstrating similar physiologic effects to
the native parathyroid hormone.  We look forward to working with
the FDA to complete the final stages of review of our BLA for
Natpara."

The Committee reviewed data from the Natpara clinical development
program for Hypoparathyroidism, consisting of one pharmacology
study and four efficacy and safety studies.  The pivotal Phase 3
study, known as REPLACE, was a randomized, double-blind, placebo
controlled study and the largest clinical trial conducted to date
in Hypoparathyroidism.

Natpara is a bioengineered replacement therapy for endogenous PTH
that NPS Pharma has developed for the treatment of
Hypoparathyroidism.  The FDA has granted orphan drug status for
Natpara for the treatment of Hypoparathyroidism.  The European
Medicines Agency has also granted orphan drug status for the drug
under the trade name Natpar.

                     About NPS Pharmaceuticals

Based in Bedminster, New Jersey, NPS Pharmaceuticals Inc. (Nasdaq:
NPSP) -- http://www.npsp.com/-- is developing new treatment
options for patients with rare gastrointestinal and endocrine
disorders.

NPS Pharmaceuticals reported a net loss of $13.50 million in 2013,
a net loss of $18.73 million in 2012 and a net loss of $36.26
million in 2011.  The Company posted consolidated net loss of
$31.44 million in 2010 and a net loss of $17.86 million in 2009.

The Company's balance sheet at June 30, 2014, showed $286.96
million in total assets, $157.96 million in total liabilities and
$129 million in total stockholders' equity.


OVERLAND STORAGE: Sphere Hikes Loan Commitment to $10 Million
-------------------------------------------------------------
Overland Storage, Inc., entered into an Agreement and Plan of
Merger with Sphere 3D Corporation, and 3D Acquisition Company
Inc., a wholly owned subsidiary of Sphere.  In connection with the
Merger Agreement, Sphere agreed to loan the Company up to $5
million pursuant to a promissory note issued to Sphere by the
Company dated May 15, 2014.

Effective as of Sept. 8, 2014, Sphere and the Company agreed to
amend and restate the Note, and entered into an Amended and
Restated Promissory Note pursuant to which Sphere agreed to loan
the Company up to $10 million.

The Amended Note is subordinated to certain existing indebtedness
of the Company and is secured by inventory of the Company and
shares of common stock of Sphere owned by the Company.  To date,
Sphere has advanced a total of $7 million to the Company under the
Amended Note.  Immediately prior to the closing of merger, the
number of shares of common stock of Sphere owned by the Company
equal in value to the total borrowings under the Amended Note will
be transferred to Sphere as payment against the Amended Note.  To
the extent the Amended Note is not repaid in full by such transfer
of shares, any remaining portion of the Company's obligations to
Sphere under the Amended Note will remain outstanding following
the completion of the merger without adjustment to the merger
consideration.

                     About Overland Storage

San Diego, Cal.-based Overland Storage, Inc. (Nasdaq: OVRL) --
http://www.overlandstorage.com/-- is a global provider of unified
data management and data protection solutions designed to enable
small and medium enterprises (SMEs), corporate departments and
small and medium businesses (SMBs) to anticipate and respond to
change.

Overland Storage incurred a net loss of $19.64 million on $48.02
million of net revenue for the fiscal year ended June 30, 2013, as
compared with a net loss of $16.16 million on $59.63 million of
net revenue during the prior fiscal year.

Moss Adams LLP, in San Diego, California, issued a "going concern"
qualification on the consolidated financial statements for the
year ended June 30, 2013, citing recurring losses and negative
operating cash flows which raise substantial doubt about the
Company's ability to continue as a going concern.


OVERSEAS SHIPHOLDING: Court Enters Modification Order
-----------------------------------------------------
In the High Court of Justice, Chancery Division, Companies Court
(case numbers 403-406/2013; 408-419/2013 and 421-425/2013)

On August 13, 2014, modification orders have been made in respect
of each of the recognition orders made on January 29, 2013 in
relation to Overseas Shipholding Group, Inc., OSG International,
Inc., Aqua Tanker Corp., Crown Tanker Corporation, Delta Aframax
Corporation, Epsilon Aframax Corporation, Front President, Inc.,
International Seaways, Inc., Maple Tanker Corporation, Oak Tanker
Corporation, OSG Lightering LLC, 1372 Tanker Corporation, Leyte
Product Tanker Corporation, Rosalyn Tanker Corporation, Samar
Product Tanker Corporation, Shirley Tanker SRL, Alcesmar Limited,
Alcmar Limited, Andromar Limited, Antigmar Limited and Ariadmar
Limited in the following terms:

   -- the automatic stay granted pursuant to Article 20(1) of the
       Model Law as a result of the recognition granted in
       paragraph 1 of each Recognition Order shall not apply to
       Claims against the debtor that are permitted by the
       provisions of the Confirmation Order and the Plan.

   -- Paragraph 1 of the Recognition Order made in respect of each
       Debtor, and the first sentence of Paragraph 1 of the
       Recognition Order made in respect of International Seaways,
       is modified and replaced with the following paragraph
       "Pursuant to article 21(1) (a) of the Model Law that the
       commencement or continuation of all individual actions or
       individual proceedings, including arbitral proceedings,
       concerning the debtor's assets, rights, obligations or
       liabilities are stayed, other than in respect of Claims
that
       are permitted by the provision of the Confirmation Order
and
       the Plan."

   -- Paragraph 3 of each Recognition Order is modified and
       replaced with the following paragraph: "Pursuant to article
       21(1)(b) of the Model Law that any execution against the
       debtor's assets is stayed, including, without limitation,
       any seizure, arrest, foreclosure upon, or levy against the
       debtor's vessels or other property, other than in respect
of
       Claims that are permitted by the provisions of the
       Confirmation Order and the Plan."

   -- For the purposes of each Modification Order and each
       Recognition Order, "Claim" shall mean:

(1) A right to payment, whether or not such right is reduced to
judgment, liquidated, unliquidated, fixed, contingent, matured,
unmatured, disputed, undisputed, legal, equitable, secured, or
unsecured; or

(2) A right to an equitable remedy for breach of performance if
such breach gives rise to a right payment, whether or not such
right to an equitable remedy is reduced to judgment, fixed,
contingent, matured, unmatured, disputed, undisputed, legal,
equitable, secured, or unsecured.

   -- For the purposes of each Modification Order, the foreign
      representative is not required to serve the application upon
      the Debtor at its registered office.

These orders were made following the entry of an order on
August 5, 2014 in respect of the Debtors' joint proceedings under
Chapter 11 of the United States Bankruptcy Code approving a plan
of reorganization of the Debtors and their affiliates.

The Debtors can be reached at:

          1301 Avenue of the Americas, 42nd Floor
          New York, NY 10019
          United States of America

The foreign representative can be reached at:

          John J. Ray III
          c/o Cleary Gottlieb Steen & Hamilton LLP
          City Place House
          55 Basinghall Street
          London EC2V 5EH

                        About Overseas Shipholding

Overseas Shipholding Group, Inc. (OTC: OSGIQ), headquartered in
New York, is one of the largest publicly traded tanker companies
in the world, engaged primarily in the ocean transportation of
crude oil and petroleum products.  OSG owns or operates 111
vessels that transport oil and petroleum products throughout the
world.

Overseas Shipholding Group and 180 affiliates filed voluntary
Chapter 11 petitions (Bankr. D. Del. Lead Case No. 12-20000) on
Nov. 14, 2012, disclosing $4.15 billion in assets and $2.67
billion in liabilities.  Greylock Partners LLC Chief Executive
John Ray serves as chief reorganization officer.  James L.
Bromley, Esq., and Luke A. Barefoot, Esq., at Cleary Gottlieb
Steen & Hamilton LLP serve as OSG's Chapter 11 counsel.  Derek C.
Abbott, Esq., Daniel B. Butz, Esq., and William M. Alleman, Jr.,
at Morris, Nichols, Arsht & Tunnell LLP, serve as local counsel.
Chilmark Partners LLC serves as financial adviser.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

The Export-Import Bank of China, owed $312 million used for the
construction of five tankers, is represented by Louis R. Strubeck,
Jr., Esq., and Kristian W. Gluck, Esq., at Fulbright & Jaworski
LLP in Dallas; David L. Barrack, Esq., and Beret Flom, Esq., at
Fulbright & Jaworski in New York; and John Knight, Esq., and
Christopher Samis, Esq., at Richards Layton & Finger PA.  Chilmark
Partners, LLC serves as financial and restructuring advisor.

Akin Gump Strauss Hauer & Feld LLP, and Pepper Hamilton LLP, serve
as co-counsel to the official committee of unsecured creditors.
FTI Consulting, Inc., is the financial advisor and Houlihan Lokey
Capital, Inc., is the investment banker.

U.S. Bank National Association is the successor administrative
agent under the $1.5 billion credit agreement, dated as of
February 9, 2006 by and among (a) OSG, OSG Bulk Ships, Inc., and
OSG International, Inc., as joint and several borrowers, (b) the
Administrative Agent and (c) various lenders party thereto.
Counsel to the Administrative Agent are Milbank, Tweed, Hadley &
McCloy LLP; Holland & Knight LLP; and Drinker Biddle & Reath LLP.
Lazard Freres & Co. LLC serves as advisor to the Administrative
Agent.

An official committee of Equity Security Holders has been
appointed in the case.  It is represented by Brown Rudnick LLP's
Steven D. Pohl, Esq., James W. Stoll, Esq. and Jesse N. Garfinkle,
Esq.; Fox Rothschild LLP's Jeffrey M. Schlerf, Esq., John H.
Strock, Esq. and L. John Bird, Esq.

Judge Walsh signed on July 18, 2014, a findings of fact,
conclusions of law, and order confirming the First Amended Joint
Plan of Reorganization of OSG and its debtor-affiliates.

A blacklined version of the Plan dated July 17, 2014, is available
at http://bankrupt.com/misc/OSGplan0716.pdf

A full-text copy of Judge Walsh's Confirmation Order is available
at http://bankrupt.com/misc/OSGplanord0718.pdf

                                 *     *     *

The Troubled Company Reporter, on Aug. 14, 2014, reported that
Moody's Investors Service assigned Caa1 ratings to the unsecured
notes of Overseas Shipholding Group, Inc. ("OSG") that are being
reinstated pursuant to its plan of reorganization which becomes
effective. Moody's also affirmed the B2 Corporate Family Rating
and all of the other debt ratings it assigned to OSG on June 12,
2014 in anticipation of the conclusion of the Chapter 11
reorganization. The rating outlook is stable.

The TCR, on Aug. 19, 2014, also reported that Standard & Poor's
Ratings Services assigned its 'B' corporate credit rating to
Overseas Shipholding Group Inc. (OSG). The outlook is stable.


PALM BEACH FINANCE: Funds Pay 10% Lawyers' Fee to Settle Suit
-------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the U.S. Bankruptcy Court in West Palm Beach,
Florida, approved a $6.25 million settlement with Fulbright &
Jaworski LLP, a Houston-based firm that had represented bankrupt
Palm Beach Finance Partners LP and Palm Beach Finance II LP, and
the 10% contingency fee for Meland Russin & Budwick PA, a Miami
law firm, for bringing in the settlement.  According to the
report, Barry Mukamal, the liquidating trustee for the two funds
that were among many investors victimized by Thomas Petters,
alleged in lawsuit against Fulbright that the firm didn't advise
the client to file bankruptcy soon enough.

The lawsuit is Mukamal v. Fulbright & Jaworski LLP (In re Palm
Beach Finance LP), 12-02123, U.S. Bankruptcy Court, Southern
District of Florida (West Palm Beach).

                      About Palm Beach Funds

Palm Beach Gardens, Florida-based Palm Beach Finance Partners,
L.P., was a hedge fund.  The Company solicited capital
contributions from third-party limited partners, and proceeded to
invest substantial amounts of the capital with the Petters
Company, Inc.

The Company filed for Chapter 11 on Nov. 30, 2009 (Bankr. S.D.
Fla. Case No. 09-36379.)  The Debtor's affiliate, Palm Beach
Finance II, L.P., also filed for bankruptcy (Bankr. S.D. Fla. Case
No. 09-36396).  Paul A. Avron, Esq., and Paul Steven Singerman,
Esq., assisted the Debtors in their restructuring efforts.  Palm
Beach Finance II estimated $500 million to $1 billion in assets
and liabilities in its petition.

In October 2010, Judge Paul G. Hyman confirmed the Plan of
Liquidation for Palm Beach Finance Partners, L.P., and Palm Beach
Finance II, L.P., proposed by Barry Mukamal, as Chapter 11 trustee
and Geoffrey Varga, as joint official liquidator of the Debtors.
The Chapter 11 trustee is represented by Michael S. Budwick, Esq.
-- mbudwick@melandrussin.com -- at Meland Russin & Budwick, P.A.


PARADIGM EAST: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Paradigm East Hanover LLC filed a summary of its schedules of
assets and liabilities with the U.S. Bankruptcy Court for the
District of New Jersey, disclosing total assets of $10,700,000 and
total liabilities of $3,491,826.  A full-text copy of the
schedules is available for free at http://is.gd/eTQvBe

Paradigm East Hanover, LLC, sought Chapter 11 bankruptcy
petition (Bankr. D.N.J. Case No. 14-25017) in Newark, New Jersey,
on July 23, 2014.

The Debtor, a Single Asset Real Estate as defined in 11 U.S.C.
Secf. 101(51B), disclosed assets of between $10 million and
$50 million, and debt of less than $10 million.

The company is owned by entities held by Paradigm Capital Funding,
LLC.

The case is assigned to Judge Donald H. Steckroth.  Morris S.
Bauer, Esq., at Norris McLaughlin & Marcus, PA, in Bridgewater,
New Jersey, serves as counsel.


PHOENIX PAYMENT: Files Schedules of Assets and Liabilities
----------------------------------------------------------
Phoenix Payment Systems, Inc., filed with the U.S. Bankruptcy
Court for the District of Delaware its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property            $7,230,399
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $6,300,345
  E. Creditors Holding
     Unsecured Priority
     Claims                                           $72,133
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                        $7,711,167
                                 -----------      -----------
        Total                     $7,230,399      $14,083,645

A copy of the schedules is available for free at:

     http://bankrupt.com/misc/PhoenixPayment_129_SALs.pdf

                      About Phoenix Payment

Founded in 2004, Phoenix Payment Systems, Inc., aka Electronic
Payment Systems, aka EPX, is an international payment processor
with corporate headquarters in Wilmington, Delaware, and
technology headquarters in Phoenix, Arizona.  It provides
acceptance, processing, support, authorization and settlement
services for credit card, debit card and e-check payments.

Providing processing services at more than 8,700 locations
worldwide, PPS processed, in multiple currencies, 280 million
transactions in 2013 and expects to process 400 million in 2014.

Phoenix Payment Systems sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 14-11848) on Aug. 4,
2014, to quickly sell its assets.

As of the Petition Date, the Debtor had total outstanding
liabilities and other obligations of $16.6 million and 9.8 million
shares of outstanding preferred and common stock.  Debt to secured
creditor The Bancorp Bank is estimated at $6.2 million.

Judge Mary F. Walrath presides over the case.

The Debtor's attorneys are Richard J. Bernard, Esq., at Foley &
Lardner LLP, in New York; and Mark D. Collins, Esq., Russell
Siberglied, Esq., Zachary I Shapiro, Esq., and Marisa A.
Terranova, Esq., at Richards Layton & Finger, P.A., in Wilmington,
Delaware.  The Debtor's banker and financial advisor is Raymond
James & Associates, Inc., while Bederson, LLC, is the Debtor's
accountant.  PMCM, LLC, provides advisory services and executive
leadership to the Debtor.  The Debtor's claims and noticing agent
is Omni Management Group, LLC.

The U.S. Trustee for Region 3 has appointed three members to the
Official Committee of Unsecured Creditors.


PHOENIX PAYMENT: Defends Bid to Hire Raymond James as Banker
------------------------------------------------------------
Phoenix Payment Systems, Inc., responded to Raymond Moyer's
objection to the application to employ Raymond James & Associates,
Inc. as investment banker.

The Debtor stated that Mr. Moyer's objection is unfounded, unfair
and ignores the realities of the case.

Based on the engagement terms that a stalking horse bidder was
locked down with a purchase price of $50 million, Mr. Moyer argued
that Raymond James' fee will be too high, especially because NAB
made an offer to purchase the Debtor's assets before Raymond James
was retained.  But he left out that the pre-engagement offer by
NAB was more than 350% lower -- a level that would not have even
paid unsecured creditors in full, much less provided a sizable
return to equity.  This would not have been obtained without the
assistance of Raymond James.

As reported in the Troubled Company Reporter on Aug. 18, 2014, in
consideration of Raymond James' agreement to provide services
to the Debtor, the Debtor proposed to compensate Raymond James
with a $50,000 monthly fee and transaction fees at the closing of
certain transactions.

At the closing of a Financing Transaction, Raymond James would be
paid a cash fee, in the amount of the lesser of (x) $500,000 or
(y) the sum of (i) 3.0% of the Aggregate Gross Proceeds of all
senior secured notes and bank debt raised and (ii) 6.0% of the
Aggregate Gross Proceeds of all second lien or junior secured debt
financing raised, unsecured, non-senior and subordinate debt
raised and all equity or equity-linked securities raised which
fees will be paid immediately out of the proceeds of the
placement.

The Debtor would pay Raymond James a cash fee in conjunction with
a Restructuring Transaction in an amount equal to $700,000.  At
the closing of any Business Combination Transaction, the Debtor
would pay a cash fee out of proceeds as a cost of sale at the
closing of a Business Combination Transaction, equal to the sum of
(i) $500,000 and (ii) 5% of Consideration paid, payable or
received, in an amount between $8 million and $15 million, plus
7.5% of Consideration paid, payable or received, an amount between
$15 million and $20 million, plus 10% of Consideration paid,
payable or received, in an amount greater than $20 million.

Michael Pokrassa, a senior vice president of Raymond James &
Associates, Inc., assures the Court that his firm is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not represent any interest adverse
to the Debtors and their estates.

The firm may be reached at:

     Michael Pokrassa
     RAYMOND JAMES & ASSOCIATES, INC.
     277 Park Avenue, Suite 410
     New York, NY 10172
     E-mail: michael.pokrassa@raymondjames.com

                      About Phoenix Payment

Founded in 2004, Phoenix Payment Systems, Inc., aka Electronic
Payment Systems, aka EPX, is an international payment processor
with corporate headquarters in Wilmington, Delaware, and
technology headquarters in Phoenix, Arizona.  It provides
acceptance, processing, support, authorization and settlement
services for credit card, debit card and e-check payments.

Providing processing services at more than 8,700 locations
worldwide, PPS processed, in multiple currencies, 280 million
transactions in 2013 and expects to process 400 million in 2014.

Phoenix Payment Systems sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 14-11848) on Aug. 4,
2014, to quickly sell its assets.

As of the Petition Date, the Debtor had total outstanding
liabilities and other obligations of $16.6 million and 9.8 million
shares of outstanding preferred and common stock.  Debt to secured
creditor The Bancorp Bank is estimated at $6.2 million.

Judge Mary F. Walrath presides over the case.

The Debtor's attorneys are Richard J. Bernard, Esq., at Foley &
Lardner LLP, in New York; and Mark D. Collins, Esq., Russell
Siberglied, Esq., Zachary I Shapiro, Esq., and Marisa A.
Terranova, Esq., at Richards Layton & Finger, P.A., in Wilmington,
Delaware.  The Debtor's banker and financial advisor is Raymond
James & Associates, Inc., while Bederson, LLC, is the Debtor's
accountant.  PMCM, LLC, provides advisory services and executive
leadership to the Debtor.  The Debtor's claims and noticing agent
is Omni Management Group, LLC.

The U.S. Trustee for Region 3 has appointed three members to the
Official Committee of Unsecured Creditors.


PLATINUM PROPERTIES: Bankruptcy Court Confirms Liquidation Plan
---------------------------------------------------------------
The Bankruptcy Court, according to a minute entry, confirmed
Platinum Properties LLC's Plan of Liquidation.

As reported in the Troubled Company Reporter on Sept. 1, 2014, the
Indiana-based real estate developer on July 15 won court approval
of the disclosure statement, which describes in detail its
proposed liquidation plan.

According to the disclosure statement, assets of Platinum and PPV
LLC, a joint venture between the company and Pittman Partners,
Inc., will be liquidated.  The net proceeds realized from the sale
will be used to pay creditors.  The liquidation plan also provides
for the treatment of creditors' claims.  Under the plan,
administrative expense claims, secured claims and priority tax
claims will be paid in cash in full.  General unsecured claims
will receive a pro rata distribution of Platinum's remaining
property.  Meanwhile, holders of equity interests may not receive
payment "based upon reasonable projections," according to court
filings.

The plan will be funded by available cash on the effective date,
and funds available after the effective date from the liquidation
of Platinum's remaining assets.

Earlier, Platinum sought court approval of a private sale of its
personal property to Platinum Properties Management
Company LLC as part of the plan sale.  The plan sale will close
within 30 days after court approval of the liquidation plan.

              About Platinum Properties and PPV LLC

Indianapolis, Indiana-based Platinum Properties, LLC, is a
residential real estate developer.  Platinum acquires land,
designs the projects, obtains zoning and other approvals, and
constructs roads, drainage, utilities, and other infrastructure of
residential subdivisions.  Platinum then sells the finished,
platted lots.  Platinum also has an ownership interest in several
special purpose entities that in turn own, operate and manage
individual projects.

PPV LLC is a joint venture between Platinum and a non-debtor
entity, Pittman Partners, Inc., each of whom hold an equity
interest in PPV.  PPV owned four projects directly and owns 100%
of the membership interest of Sweet Charity Estates, LLC.

Platinum Properties and PPV LLC filed for Chapter 11 protection
(Bankr. S.D. Ind. Case Nos. 11-05140 and 11-05141) on April 25,
2011.  Lawyers at Baker & Daniels LLP, in Indianapolis, Indiana,
serve as the Debtors' bankruptcy counsel.  Platinum Properties
disclosed $14,624,722 in assets and $181,990,960 in liabilities as
of the Chapter 11 filing.

The U.S. Trustee has not appointed a creditors committee in the
Debtors' case.  The U.S. Trustee reserves the right to appoint
such a committee should interest developed among the creditors.


PRM FAMILY: Bro-Pack Balks at Plan, Seeks Ch.7 Conversion
---------------------------------------------------------
Bro-Pack Enterprises, a creditor and 503(b)(9) claimant in the
Chapter 11 cases of PRM Family Holding Company, L.L.C., et al.,
objected to the approval of the Disclosure Statement explaining
the Debtors' Joint Plan of Liquidation.

Bro-Pack also requested that the Court convert the case to one
under Chapter 7 of the Bankruptcy Code.

According to Bro-Pack, the Disclosure Statement relating to the
Plan dated July 25, 2014, proposed jointly by the Debtors and the
Official Committee of Unsecured Creditors is patently
unconfirmable on its face and impairs certain administrative
creditors, while proposing to pay other administrative creditors
-- namely, professionals -- in full.

Bro-Pack related that the Debtors sold substantially all of their
assets via Bankruptcy Code Section 363 in February 2014.  In the
motions proposing the asset sale, the Debtors persuaded creditors
to support the asset sale because the sale would result in cash
proceeds sufficient to pay all administrative claims in full and
leave some additional funds for partial payment of unsecured
claims.

The Debtors, in their Disclosure Statement, acknowledged -- for
the first time -- that there are insufficient funds to pay
administrative claims.

As reported in the Troubled Company Reporter on Aug. 19, 2014,
the Bankruptcy Court will convene a hearing on Sept. 17, 2014, at
1:30 p.m., to consider adequacy of information in the Disclosure
Statement.

As reported in the TCR on Aug. 6, 2014, the Plan provides that
holders of allowed CNG Secured Claims, allowed secured tax claims
and allowed other secured claims will be paid in full.  The
holders of administrative claims will be paid with proceeds as
assets of the estates are liquidated by a creditor trustee, or as
agreed between the creditor trustee and the claim holder.  Holders
of allowed priority tax claims and other priority claims will be
paid in order of priority from a creditor trust.  Allowed general
unsecured claims will be deemed to hold unsecured creditor trust
interests and will receive pro rata distributions from the
Creditor Trust, and the Debtors' equity securities will be
cancelled and terminated.  The Plan will be funded in part by a
contribution from related third parties, Provenzano Family members
and their respective trusts, in exchange for an acknowledgement,
affirmation and ratification that the estates and their creditors
hold no claims and fully release any claims against the Plan
Funding Source.

The Creditor Trustee will be charged with: (i) pursuing claims and
causes of action on behalf of the Creditor Trust; (ii) analyzing
and reconciling claims that have been filed against the Debtors'
estates; and (iii) making distributions on account of allowed
claims in accordance with the Plan and the creditor trust
agreement entered into with respect thereto.

The cost of distributing the Plan and Disclosure Statement as well
as the costs, if any, of soliciting acceptances, will be paid from
property of the estates.  Professional fees of the plan
proponents' counsel are not contingent upon the acceptance of the
Plan, and are payable as a cost of administration, upon court
approval.

All remaining assets of the Debtors' estates will be transferred
to the Creditor Trust and will be held for the benefit of the
holders of (i) allowed administrative claims, allowed priority tax
claims and allowed priority claims, and (ii) allowed general
unsecured claims.  The provisions of the Creditor Trust will be
implemented under the direction of the Creditor Trustee, who will
be designated prior to the confirmation hearing.

Prior to the Effective Date, the Committee will select three
creditors to serve on an advisory board.  The Creditor Advisory
Board will: (a) select a successor Creditor Trustee in the
event that the initial Creditor Trustee needs or is required to
resign or is unable to complete its duties as Creditor Trustee;
(b) advise the Creditor Trustee with respect to his or her duties,
including the reconciliation of claims, distributions to
beneficiaries of the Creditor Trust and avoidance actions; and (c)
file any necessary pleadings with the Court challenging any
actions of the Creditor Trustee as permitted under the Creditor
Trust Agreement.  The Creditor Trustee will provide the Creditor
Advisory Board with quarterly reports.

On the Effective Date, all of the equity securities in the Debtors
will be and are deemed to be cancelled.  Upon receipt
by the Debtors (or the Creditor Trust) of the plan funding
Contribution with a value of $1.6 million from the Plan Funding
Source, the guarantor release parties are fully released from any
claims or causes of action held by the Debtors and the Creditor
Trust.

A copy of the Disclosure Statement is available for free at:

          http://bankrupt.com/misc/PRMFAMILY_1171_ds.pdf

Bro-Pack is represented by:

         Isaac M. Gabriel, Esq.
         Kelly Singer, Esq.
         Jason D. Curry, Esq.
         QUARLES & BRADY LLP
         Renaissance One
         Two North Central Avenue
         Phoenix, AZ 85004-2391
         Tel: (602) 229-5200
         E-mail: isaac.gabriel@quarles.com
                 kelly.singer@quarles.com
                 jason.curry@quarles.com

                         About PRM Family

PRM Family Holding Company, L.L.C., operator of 11 Pro's Ranch
Markets grocery stores in Arizona and Texas and New Mexico,
sought Chapter 11 protection (Bankr. D. Ariz. Case No. 13-09026)
on May 28, 2013.

As of the bankruptcy filing, PRM Family Holding operates seven
grocery stores in Phoenix, two in El Paso, Texas, and two in New
Mexico.  Its corporate office is in California and it has
warehouses and distribution facilities in California and Phoenix.
Its Pro's Ranch Markets feature produce, baked goods, and other
general grocery items with a Hispanic flair and theme.  The
company has more than 2,200 employees.

PRM Family blamed its woes on, among other things, the adverse
effect of the perception in Arizona towards immigrants including
the passage of SB 1070 and an immigration audit to which no other
competitor was subjected.  It also blamed a decline in the U.S.
economy and an increase competition from other grocery store
chains.

Bank of America, the secured lender, declared a default in
February 2013.

PRM Family estimated liabilities in excess of $10 million.

Judge Sarah Sharer Curley oversees the case.  Michael McGrath,
Esq., Scott H. Gan, Esq., Frederick J. Petersen, Esq., Kasey C.
Nye, Esq., David J. Hindman, Esq., and Isaac D. Rothschild, Esq.,
at Mesch, Clark & Rothschild, P.C., serve as the Debtor's counsel.

HG Capital Partners' Jim Ameduri serves as financial advisor.

PRM Family submitted to the Bankruptcy Court on Sept. 23, 2013, a
Joint Disclosure Statement in support of Plan of Reorganization.
The Disclosure Statement says the Debtor will continue the
operation of a long-standing business, which currently employs
approximately 2,300 people. Continuing the business will allow the
Debtors to repay creditors and maintain trading relationships with
long-term trade vendors.

Attorneys at Freeborn & Peters LLP, in Chicago, Ill., represent
the Official Committee of Unsecured Creditors as lead counsel.
Attorneys at Schian Walker, P.L.C., in Phoenix, Arizona, represent
the Committee as local counsel.  O'Keefe & Associates Consulting,
LLC, serves as financial advisor to the Committee.

Robert J. Miller, Esq., Bryce A. Suzuki, Esq., and Justin A.
Sabin, Esq., at Bryan Cave LLP, in Phoenix, serve as counsel for
Bank of America, N.A., as administrative agent and a lender under
an amended and restated credit agreement dated July 1, 2011.


QCE FINANCE: Wants Former Execs' Indemnification Claims Tossed
--------------------------------------------------------------
Law360 reported that several Quiznos subsidiaries asked the
Delaware Chancery Court to find they have no liability for the
legal woes of the sandwich shop's former executives, including
former CEO Greg MacDonald and former Chief Financial Officer
Dennis Smythe, who are facing fraud suit filed by former equity
holders, saying those obligations died during the restaurant's
bankruptcy.

                          About Quiznos

Denver-based Quiznos -- http://www.quiznos.com-- is a chain
designed for today's busy consumers who are looking for a high
quality, tasty, freshly prepared alternative to traditional fast-
food restaurants.  With locations in 50 states and 30 countries,
Quiznos is one of the world's premier quick-service restaurant
chains and pioneer of the toasted sandwich; Quiznos restaurants
offer creative, chef-created sandwiches and salads using premium
ingredients.  Quiznos was founded in 1981 by chefs who discovered
that toasting brought out the best in every sandwich ingredient.

QCE Finance LLC and its affiliates sought protection under Chapter
11 of the Bankruptcy Code on March 14, 2014.  The lead case is QCE
Finance LLC (Case No. 14-10543, Bankr. D.Del.).  The case is
assigned to Judge Peter J. Walsh.

The Debtors' lead counsel are Ira S. Dizengoff, Esq., Philip C.
Dublin, Esq., Jason P. Rubin, Esq., and Kristine G. Manoukian,
Esq., at AKIN GUMP STRAUSS HAUER & FELD LLP, in New York.  The
Debtors' local counsel is Mark D. Collins, Esq., and Amanda
Steele, Esq., at RICHARDS, LAYTON & FINGER, P.A., in Wilmington,
Delaware.  The Debtors' investment banker and financial advisor is
Matthew J. Hart of LAZARD FRERES & CO. LLC.  Paul Ruh, Mark A.
Roberts, and Jonathan Tibus of Alvarez & Marsal serves as the
Debtors' restructuring advisors.  Prime Clerk LLC serves as the
Debtors' claims and noticing agent.

The lead debtor, QCE Finance LLC, scheduled $736,858 in total
assets plus "undetermined amounts".  It scheduled $618,437,362
plus "undetermined amounts" as liabilities.

The U.S. Trustee has appointed a seven-member official committee
of unsecured creditors.  The Committee has tapped Cousins Chipman
& Brown LLP's Scott D. Cousins, Esq., and Ann Kashishian, Esq.;
and Otterbourg P.C.'s Scott L. Hazan, Esq., Jenette A. Barrow-
Bosshart, Esq., and David M. Posner, Esq., as counsel.

Avenue Capital Management II, L.P. and its affiliates are
represented by John J. Rapisardi, Esq., and Joseph Zujkowski,
Esq., at O'Melveny & Myers LLP in New York.  Fortress Investment
Group and its affiliates are represented by Skadden Arps Slate
Meagher & Flom's Van C. Durrer, Esq.  Co-counsel to the Consenting
First Lien Lenders are Milbank Tweed Hadley & McCloy's Thomas R.
Kreller, Esq., and David B. Zolkin, Esq., and Morris Nichols Arsht
& Tunnell's Robert J. Dehney.  Counsel to the First Lien Agent is
Ropes & Gray's Mark R. Somerstein.  Counsel to the Second Lien
Agent is Pillsbury Winthrop's Bart Pisella, Esq., and Timothy P.
Kober, Esq.  Counsel to Vectra Bank Colorado, National
Association, is Kasowitz Benson's Adam L. Shiff, Esq.

Quiznos' Plan of Reorganization was confirmed by the U.S.
Bankruptcy Court in Wilmington, Delaware on May 12, 2014.  The
company on July 1, 2014, disclosed that it has successfully
completed its financial restructuring and emerged from Chapter 11.


QUANTUM FUEL: Amends Lease Agreement With Braden Court
------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., and Braden
Court Associates, as landlord, entered into an Amended and
Restated Lease Agreement for certain real property located in Lake
Forest, California, according to the Company's regulatory filing
with the U.S. Securities and Exchange Commission.  The Amended and
Restated Lease Agreement was effective as of Sept. 1, 2014, and
amends and fully restates into a single lease agreement the terms
of the lease agreements between the Company and Landlord dated
Nov. 1, 2007, as amended on Sept. 18, 2009, and April 1, 2009.

The leased real property includes three buildings consisting of
approximately 156,374 square feet in the aggregate.

The aggregate monthly base rent for the Leased Real Property
(assuming the Company does not exercise its option to extend the
lease term for Building C) is as follows:

  Period                                   Monthly Base Rent
  ------                                   -----------------
  September 1, 2014 - December 31, 2014        $158,711
  January 1, 2015 - May 31, 2015               $163,472
  June 1, 2015 - May 31, 2016                  $125,419
  June 1, 2016 - May 31, 2017                  $129,181
  June 1, 2017 - May 31, 2018                  $133,060
  June 1, 2018 - May 31, 2019                  $62,903
  June 1, 2019 - May 31, 2020                  $64,790

The lease term expires on May 31, 2020, for Building A and May 31,
2018 for Building B and Building C.  The Company has the option to
extend the lease term through May 31, 2025, for Building A and
through May 31, 2020, for Building B and Building C.

If the Company exercises its option to extend the lease term for
Building A through 2025, then the monthly base rent for the first
year of the extended term will be the greater of (A) $64,790 or
(B) fair rental value, and the monthly base rent for the remaining
four years of the extended term will be equal to 103% of the
monthly base rent in effect in May of the preceding year.

If the Company exercises its option to extend the lease term for
Building B and Building C through 2020, then the monthly base rent
for the first year of the extended term will be the greater of (A)
$71,989 or (B) fair rental value, and the monthly base rent for
the remaining year of the extended term will be equal to 103% of
the monthly base rent in effect in May of the preceding year.

The Company will receive up to $234,561 over the lease term for
tenant improvements.

                         About Quantum Fuel

Lake Forest, Cal.-based Quantum Fuel Systems Technologies
Worldwide, Inc. (Nasdaq: QTWW) develops and produces advanced
vehicle propulsion systems, fuel storage technologies, and
alternative fuel vehicles.  Quantum's portfolio of technologies
includes electronic and software controls, hybrid electric drive
systems, natural gas and hydrogen storage and metering systems and
other alternative fuel technologies and solutions that enable fuel
efficient, low emission, natural gas, hybrid, plug-in hybrid
electric and fuel cell vehicles.

Quantum Fuel reported a net loss attributable to stockholders of
$23.04 million in 2013, a net loss attributable to stockholders of
$30.91 million in 2012 and a net loss attributable to common
stockholders of $38.49 million in 2011.

As of June 30, 2014, the Company had $72.42 million in total
assets, $39.35 million in total liabilities and $33.07 million in
total stockholders' equity.


RADIOSHACK CORP: Fitch Lowers Issuer Default Rating to 'C'
----------------------------------------------------------
Fitch Ratings has downgraded the Long-term Issuer Default Rating
(IDR) for RadioShack Corporation (RadioShack) to 'C' from 'CC'.

KEY RATING DRIVERS

The downgrade reflects the high likelihood that RadioShack will
need to restructure its debt in the next couple of months.  There
has been a material deterioration in its liquidity in the last
quarter and Fitch believes there will be a funding shortfall going
into the holiday season.

Management indicated today that it is exploring options for
overhauling its balance sheet and that it is in advanced
discussions with a number of parties.  Possible outcomes include a
debt restructuring, store base consolidation program and other
measures to make significant reductions in its cost structure.

Fitch believes that this may result in a bankruptcy filing or in
another outcome that is detrimental to bondholders.  Per Fitch's
recovery analysis outlined below, Fitch believes that the $585
million senior secured ABL facility is well secured and would
receive a full recovery.  The $250 million term loan has superior
recovery prospects (71-90%), and the $325 million of senior
unsecured notes have poor recovery prospects (0-10%).

There was significant erosion in RadioShack's liquidity during the
second quarter of 2014, with total liquidity of $183 million as of
Aug. 2, 2014 ($31 million in cash and $152 million of availability
on the revolving credit facility) down from $424 million at the
end of the first quarter.  Revolver availability was constrained
by additional discretionary reserves of $104 million put in place
by the lenders, drawings on the revolver of $43 million (up from
no borrowings at the end of Q1), an increase in letters of credit,
and a lower borrowing base due to lower inventories and
receivables.

Fitch estimates that RadioShack will have liquidity needs of up to
$300 million during the second half of 2014, including negative
free cash flow (FCF) of around $200 million and a seasonal
inventory build-up of an estimated $100 million.  The negative FCF
projection is based on second half 2014 EBITDA of negative $150
million, interest expense of $30 million and capex of $20 million,
and assumes flat working capital.  As such, there is a funding
shortfall versus currently available liquidity of $100 million or
more.

In Fitch's view, RadioShack does not have material sources of
liquidity beyond its revolver as virtually all of its assets have
been pledged to its credit facilities.

RadioShack reported a 17.5% revenue decline in the first half of
2014, and a 16.9% decline in comparable (comp) store sales.
EBITDA for the LTM period was negative $272 million, compared with
negative $161 million in 2013 and positive $48 million in 2012.
Weak underlying trends in RadioShack's mobility and consumer
electronics businesses have been responsible for this material
decline in profitability.

Within RadioShack's U.S. Company-Operated Stores Segment,
comparable store mobility sales (52% of revenue; includes postpaid
and prepaid wireless handsets, commissions and residual income,
prepaid wireless airtime, e-readers, tablet devices, wireless
accessories, and tablet accessories) were down 24% in the first
half mainly due to unit declines in its post-paid wireless
business, and comparable store retail sales (consumer electronics,
batteries, etc.) were down 8.9%.  Fitch projects continued
negative trends in these businesses.

Recovery Analysis

The ratings on the various securities reflect Fitch's recovery
analysis, which is based on a liquidation value of RadioShack in a
distressed scenario of $530 million as of Aug. 2, 2014.  Most of
the value comes from inventories, half of which are assumed to be
mobile phones which are assigned a liquidation value of 80%, and
the balance is other inventories at a liquidation value of 50%.
Fitch uses a liquidation value of 30% for receivables to reflect
the netting out of estimated payables to the wireless carriers.

The $585 million ABL facility, including a $535 million revolver
(current borrowing base of $284 million) and a $50 million term
loan, has outstanding recovery prospects (91% - 100%), and a
rating of 'CCC/RR1'.  The ABL facility is secured by a first lien
on current assets and a second lien on fixed assets, intellectual
property and equity interests in subsidiaries.

The $250 million secured term loan has superior recovery prospects
(71% - 90%) and a rating of 'CCC-/RR2'.  This loan is secured by a
second lien on current assets and a first lien on fixed assets,
intellectual property and equity interests in subsidiaries.  Fitch
expects that the loan could have a recovery at the high end of the
range or better given the value of the underlying collateral and
the limits that have been placed on the amount the company can
borrow against the revolver.

The $325 million of senior unsecured notes due in May 2019 are
rated 'C/RR6', reflecting poor recovery prospects (0% - 10%).

RATING SENSITIVITIES

An upgrade of RadioShack is unlikely at this point with no
apparent catalyst for a turnaround.  RadioShack would need to
generate a minimum EBITDA of $80 million to $100 million to
service interest expense and maintenance capex.

A downgrade would occur in the event of a default or distressed
debt exchange.

Fitch has taken the following rating actions:

RadioShack Corporation

   -- Long-term IDR downgraded to 'C' from 'CC'

   -- $535 million senior secured ABL revolver downgraded to
      'CCC/RR1' from 'CCC+/RR1';

   -- $50 million senior secured ABL term loan downgraded to
      'CCC/RR1' from 'CCC+/RR1'

   -- $250 million secured term loan downgraded to 'CCC-/RR2' from
      'CCC/RR2'

   -- Senior unsecured notes are affirmed at 'C/RR6'.


RECYCLING SERVICES: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Recycling Services, Inc.
        P.O. Box 305
        Claremont, NH 03743

Case No.: 14-11755

Chapter 11 Petition Date: September 12, 2014

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

Debtor's Counsel: Eleanor Wm Dahar, Esq.
                  VICTOR W. DAHAR PROFESSIONAL ASSOCIATION
                  20 Merrimack Street
                  Manchester, NH 03101
                  Tel: (603) 622-6595
                  Email: edahar@att.net
                         vdaharpa@att.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Amanda C. Silvers, president and sole
shareholder.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nhb14-11755.pdf


SAN BERNARDINO, CA: Firefighters, CalPERS Respond to CBA Motion
---------------------------------------------------------------
The City of San Bernardino, California on March 4, 2013, sought
the Bankruptcy Court's authority to reject its collective
bargaining agreement with the San Bernardino City Professional
Firefighters, Local 891.

The City has filed a supplement to its request, as authorized by
the Court.

The collective bargaining agreement expired on its own terms on
June 30, 2010, but it contained an evergreen clause which provided
that all of the provisions remain in effect until a new agreement
is negotiated.

Paul R. Glassman, Esq., at Stradling Yocca Carlson & Rauth, P.C.,
in Santa Monica, California, relates that the City has been unable
to negotiate voluntary modifications to the agreement. The only
way for the City to get out of the deal is to negotiate to
impasse, and only after that can it impose changes. However, labor
law impasse procedures burden the ability of a debtor to exercise
its rights under Section 365 of the Bankruptcy Code to reject the
contract. Rather, a debtor seeking to reject a collective
bargaining agreement must make reasonable efforts to negotiate
voluntary modifications.

Mr. Glassman points out that for more than a two-year period, the
City made numerous efforts to get the firefighters to help the
City deal with its financial crisis through modifications to the
terms and conditions of employment controlled by the agreement.

According to Mr. Glassman, the City was in dire financial straits
and was forced to significantly reduce and contain the cost of
providing services to its residents. Employee compensation
comprises 75% of the general fund budget and public safety
employees represent 80% of total general fund employee
compensation. The City had already cut back many services to
bare-bones.

Mr. Glassman argues that without modifications to the agreement
and reductions in the cost of operating the fire department, the
City would have an unbalanced budget and would require the use of
operating capital to meet its obligations and make the budget
insolvent.

Mr. Glassman assures the Court that the City is not seeking to
reduce salaries and it is not proposing to impair pension benefit.
Rather, it is trying to:

   (a) get control over skyrocketing overtime costs associated
       with an outmoded staffing model that cost the fire
       department over $6.3 million of overtime pay in the last
       fiscal year; and

   (b) rein in the costs of pension benefit through employee cost
       sharing authorized in 2012 by the California Legislature.

Mr. Glassman argues that when compared to the compensation paid to
members, the cost of participating in cost sharing is not an
unreasonable burden. Until the City began implementing
cost-sharing in February 2013 for all employees, the members had
not been paying anything for their pension benefits. The City
believes its proposed modifications are fair and reasonable and
should be approved.

                      Firefighters Respond

David M. Goodrich, Esq., at SulmeyerKupetz, PC, in Los Angeles,
California, contends that the City has failed to provide
admissible evidence of its efforts to negotiate voluntary
modifications to the agreement. The firefighters has taken limited
discovery and learned that the City's expert cannot confirm that
the agreement is a burden on the City.

Mr. Goodrich notes that there is no statutory authority for the
implementation of terms of employment on a collective bargaining
unit. It also appears the City is asking for an order authorizing
it to violate state law, i.e. cost sharing, under the guise of
contract rejection. Bankruptcy law, however, does not preempt
these state laws, argues Mr. Goodrich.

Mr. Goodrich stresses that the City has failed to demonstrate it
is entitled to an order, on a nunc pro tunc basis, blessing its
unilateral imposition of modifications to the agreement in
February 2013. The City has had an ample opportunity to provide
additional argument in support of this novel approach, says Mr.
Goodrich, yet has failed to do so.

Accordingly, the firefighters ask the Court to deny the City's
request.

                       CalPERS Respond

The California Public Employees' Retirement System clarifies that
the City's request go beyond a simple rejection of the agreement
but seeks to make changes to the agreement, including increases in
the amount of contributions that employees must pay towards the
pension plan.

Michael B. Lubic, Esq., at K&L Gates LLP, in Los Angeles,
California, argues that nothing in Section 365 of the Bankruptcy
Code authorizes a bankruptcy court to approve or bless changes to
an executory contract. Section 365 merely allows assumption or
rejection, not modification.

Mr. Lubic further argues that there is currently no controversy
for the Court to adjudicate, and the City's desire for the Court
to approve its past and possible future actions amounts to a
request for an impermissible advisory opinion. Mr. Lubic notes
that the propriety of the City's modifications are better left to
be addressed another day.

The Court should abstain from ruling on a matter of first
impression involving an interpretation of State law, particularly
where the matter involves State governmental matters like the
pensions of public employees, suggests Mr. Lubic. Even if it were
appropriate for the Court to approve modifications to contribution
amounts, the increases exceed the amounts that California law
allows to be imposed on employees, he adds.

To the extent that the City is asserting that applicable
California law is preempted, it is premature to consider
preemption, Mr. Lubic says.

The City is represented by:

     Paul R. Glassman, Esq.
     Fred Neufeld, Esq.
     Laura L. Buchanan, Esq.
     Kathleen D. Devaney, Esq.
     STRADLING YOCCA CARLSON & RAUTH, P.C.
     100 Wilshire Blvd., 4th Floor
     Santa Monica, CA 90401
     Telephone: (424) 214-7000
     Facsimile: (424) 214-7010
     E-mail: pglassman@sycr.com
             fneufeld@sycr.com
             lbuchanan@sycr.com
             kdevaney@sycr.com

          - and -

     Gary D. Saenz, Esq.
     Office of the City Attorney
     300 N. "D" STREET, Sixth Floor
     San Bernardino, CA 92418
     Telephone: (909) 384-5355
     Facsimile: (909) 384-5238
     E-mail: saenz_ga@sbcity.org

The firefighters are represented by:

     David M. Goodrich, Esq
     SULMEYERKUPETZ, A PROFESSIONAL CORPORATION
     333 South Hope Street, Thirty-Fifth Floor
     Los Angeles, CA 90071-1406
     Telephone: 213-626-2311
     Facsimile: 213-629-4520
     E-mail: dgoodrich@sulmeyerlaw.com

          - and -

     Corey W. Glave, Esq.
     Attorney at Law
     1042 2nd Street
     Hermosa Beach, CA 90254
     Telephone: (323) 547-0472
     Facsimile: (310) 379-0456
     E-mail: SBCPFattorney@gmail.com

CalPERS is represented by:

     Michael J. Gearin, Esq.
     Michael B. Lubic, Esq.
     Michael K. Ryan, Esq.
     K&L GATES LLP
     10100 Santa Monica Boulevard, Seventh Floor
     Los Angeles, CA 90067
     Telephone: 310-552-5000
     Facsimile: 310-552-5001
     Email: michael.gearin@klgates.com
            michael.lubic@klgates.com
            michael.ryan@klgates.com

                 About San Bernardino, Calif.

San Bernardino, California, filed an emergency petition for
municipal bankruptcy under Chapter 9 of the U.S. Bankruptcy Code
(Bankr. C.D. Cal. Case No. 12-28006) on Aug. 1, 2012.  San
Bernardino, a city of about 210,000 residents roughly 65 miles
(104 km) east of Los Angeles, estimated assets and debts of more
than $1 billion in the bare-bones bankruptcy petition.

The city council voted on July 10, 2012, to file for bankruptcy.
The move lets San Bernardino bypass state-required mediation with
creditors and proceed directly to U.S. Bankruptcy Court.

The city is represented that Paul R. Glassman, Esq., at Stradling
Yocca Carlson & Rauth.

San Bernardino joined two other California cities in bankruptcy:
Stockton, an agricultural center of 292,000 east of San Francisco,
and Mammoth Lakes, a mountain resort town of 8,200 south of
Yosemite National Park.

The City was granted Chapter 9 protection on Aug. 28, 2013.


SCRUB ISLAND: Creditors to Vote on Chapter 11 Plan
--------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Scrub Island Resort, Spa & Marina in the
British Virgin Islands obtained conditional approval of the
disclosure statement explaining its Chapter 11 reorganization
plan.

According to the report, U.S. Bankruptcy Judge Michael G.
Williamson in Tampa, Florida, will convene a hearing to consider
final approval of the disclosure statement and the confirmation of
the plan on Nov. 3.  Deadlines to vote and file objections to the
disclosure statement and confirmation of the plan are Oct. 24, the
report related.

Bloomberg said the confirmation hearing will be conducted
alongside the trial of a lawsuit in which Scrub Island is
asserting so-called lender-liability claims against pre-bankruptcy
secured lender FirstBank Puerto Rico.

The lawsuit is Scrub Island Development Group Limited v. FirstBank
Puerto Rico, 14-ap-00534.

                         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.


SEANERGY MARITIME: Plaza and Comet Report 25% Equity Stake
----------------------------------------------------------
In an amended Schedule 13D filed with the U.S. Securities and
Exchange Commission, Plaza Shipholding Corp., Comet Shipholding
Inc., et al., disclosed that as of June 27, 2014, they
beneficially owned 3.4 million shares of common stock of Seanergy
Maritime Holdings Corp. representing 25% of the shares
outstanding.

Plaza and Comet are each reporting the beneficial ownership of an
additional 945,000 shares of Common Stock, or 1,890,000 shares of
Common Stock in the aggregate pursuant to a Share Purchase
Agreement entered into among the Company, Plaza and Comet on
June 24, 2014.  Plaza and Comet acquired the shares for
$1,134,000, at a price of $0.60 per share.  The shares acquired by
the Plaza and Comet are being held for investment purposes.

A copy of the regulatory filing is available at:

                         http://is.gd/XTQIEg

                            About Seanergy

Athens, Greece-based Seanergy Maritime Holdings Corp. is an
international company providing worldwide seaborne transportation
of dry bulk commodities.  The Company owns and operates a fleet
of seven dry bulk vessels that consists of three Handysize, two
Supramax and two Panamax vessels.  Its fleet carries a variety of
dry bulk commodities, including coal, iron ore, and grains, as
well as bauxite, phosphate, fertilizer and steel products.

Seanergy Maritime reported net income of $10.90 million on $23.07
million of net vessel revenue for the year ended Dec. 31, 2013, as
compared with a net loss of $193.76 million on $55.61 million of
net vessel revenue for the year ended Dec. 31, 2012.

As of June 30, 2014, the Company had $3.52 million in total
assets, $554,000 in total liabilities and $2.96 million in total
shareholders' equity.

Ernst & Young (Hellas) Certified Auditors Accountants S.A., in
Athens, Greece, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31,
2013.  The independent auditors noted that the Company, as of
December 31, 2013 continued to be in breach of certain terms and
covenants of the loan facility with its remaining lender, and had
a working capital deficit and an accumulated deficit.  Following
the disposal of its entire fleet subsequent to December 31, 2013
in the context of its restructuring plan, the Company is unable to
generate sufficient cash flow to meet its obligations and sustain
its continuing operations.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


SEVEN COUNTIES: Sept. 30 Deadline for Administrative Claims Filing
------------------------------------------------------------------
The Bankruptcy Court established Sept. 30, 2014, as the deadline
for any holder of an administrative claim against Seven Counties
Services, Inc., to file proofs of claim.

Seven Counties Services Inc., a not-for-profit behavioral
services provider from Louisville, Kentucky, filed for Chapter 11
protection (Bankr. W.D. Ky. Case No. 13-31442) on April 4, 2013.
The agency generates more than $100 million a year in revenue and
employs a staff of 1,400 providing services at 21 locations and
120 schools and community centers.

The petition was signed by Anthony M. Zipple as president/CEO.
The Debtor scheduled assets of $45,603,716 and scheduled
liabilities of $232,598,880.

Judge Joan A. Lloyd presides over the case.  David M. Cantor,
Esq., Neil C. Bordy, Esq., Charity B. Neukomm, Esq., Tyler R.
Yeager, Esq., and James E. McGhee III, Esq., at SEILLER WATERMAN
LLC, serve as counsel to the Debtor.  Bingham Greenebaum Doll LLP
and Wyatt, Tarrant & Combs LLP have been retained by the Debtor as
special counsel.  Hall, Render, Killian, Heath & Lyman, PLLC, is
special counsel to represent and advise it in the implementation
of its new software system.

Peritus Public Relations, LLC, has been tapped to provide public
relations and public affairs support in Kentucky.

Fifth Third Bank, the cash collateral lender, is represented by
Brian H. Meldrum, Esq., at STITES & HARBISON PLLC; and Robert C.
Goodrich, Jr., Esq., at STITES & HARBISON PLLC.


SIMPLEXITY LLC: Fifth Third Says Creditors Rushing Lien Challenge
-----------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that the Official Committee of Unsecured Creditors
appointed in the Chapter 11 case of Simplexity LLC wants the
debtor to sue lender Fifth Third Bank or allow the panel to do so.
According to the report, the committee wants the exclusive right
to sue Fifth Third because the bank acted with "hostility" toward
the Chapter 11 process to the detriment of unsecured creditors.

Law360 reported that Fifth Third Bank blasted the Committee's
request to fast-track its bid to lodge a challenge to the bank's
post-petition liens, arguing unsecured creditors are just trying
to control the terms of any potential settlement.  According to
the report, in a motion before the Delaware bankruptcy court, FTB,
which is both Simplexity's senior prepetition and debtor-in-
possession lender, argued that the official committee of unsecured
creditors' request is a collateral attack on a claims
investigation process.

                         About Simplexity

Simplexity, LLC, a defunct cellphone activator, sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No.
14-10569) on March 16, 2014.  The case is before Judge Kevin
Gross.  The Debtors' counsel is Kenneth J. Enos, Esq., and Robert
S. Brady, Esq., at Young, Conaway, Stargatt & Taylor, LLP, in
Wilmington, Delaware.  Prime Clerk LLC serves as claims and
noticing agent.  Simplexity hired Rutberg & Co. as investment
banker.

Simplexity LLC and Simplexity Services LLC both estimated
$10 million to $50 million in assets, and $50 million to $100
million in liabilities.

The U.S. Trustee for Region 3 appointed five members to an
official committee of unsecured creditors.  Peter S. Partee, Sr.,
Esq., and Michael P. Richman, Esq., at Hunton & Williams LLP, in
New York; and Christopher A. Ward, Esq., and Shanti M. Katona,
Esq., at Polsinelli PC, in Wilmington, Delaware, represent the
Committee.


SKYLINE MANOR: Smart Devine Okayed to Perform Forensic Accounting
-----------------------------------------------------------------
Ron Ross, the Chapter 11 Trustee of Skyline Manor, Inc., sought
and obtained permission from the U.S. Bankruptcy Court for the
District of Nebraska to employ Smart Devine of Philadelphia, PA to
perform certain forensic accounting work.

The Chapter 11 Trustee said certain financial dealings and
transactions transpired while the Debtor was under prior
management which may have been improper and actionable, and that
those transactions and others which may be discovered should be
scrutinized more closely.  These matters include, but are not
limited to, significant, unexplained cash payments made to
companies related to those working in a management capacity for
Skyline, the apparent failure of prior management to pay or cause
to be paid payroll taxes, other unexplained bank account debits
and incomplete financial record-keeping.

The Trustee desires to retain Smart Devine to undertake certain
forensic accounting tasks in order to better understand these and
other transactions. This engagement would be led by Ricardo Zayas
and Francis Brulenski on behalf of Smart Devine.

Mr. Zayas will charge the Trustee a discounted hourly billing rate
of $360 per hour.  In addition, Smart Devine would set a maximum
cost for its services at $50,000 to undertake the accounting work
requested by the Trustee, and would not exceed $50,000 in fees and
costs without further permission and approval from Trustee.

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

Smart Devine can be reached at:

       Ricardo J. Zayas
       SMART DEVINE OF PHILADELPHIA, PA
       1600 Market St., Ste 3200
       Philadelphia, PA 19103-7210
       Tel: (267) 670-7356
       E-mail: RZayas@smartdevine.com

                       About Skyline Manor

Skyline Manor Inc. is a Nebraska non-profit corporation that
operates a 199-unit continuing care retirement community and a 140
unit independent living facility in Omaha.  Skyline Manor filed a
Chapter 11 bankruptcy petition (Bankr. D. Neb. Case No. 14-80934)
on May 8, 2014.  The petition was signed by John W. Bartle as
chief restructuring officer.  Judge Thomas L. Saladino presides
over the case.

The Debtor estimated assets of at least $10 million and
liabilities between $10 million to $50 million.

Mr. Ross has been appointed as the Chapter 11 trustee for Skyline
Manor.


SOUNDVIEW ELITE: Investment Advisor Wants Stay in Proceedings
-------------------------------------------------------------
Gerti Muho asks the Bankruptcy Court to temporarily stay
proceedings in relation to the Chapter 11 case of Soundview Elite,
Ltd., et al.  He said fraud had been committed on the Court,
specifically the parties that have filed for bankruptcy had done
fraudulently for the sole purpose of stealing assets that
Mr. Muho, in his role as investment advisor for his investors,
solely controls.  He said a temporary stay of all proceedings in
the Court would be beneficial and practical and may prevent
unnecessary efforts by the parties and the Court.

                       About Soundview Elite

Six mutual funds originally created by Citco Group of Cos.,
including Soundview Elite Ltd., filed petitions for Chapter 11
protection on Sept. 24, 2013, in Manhattan to avoid undergoing
bankruptcy liquidation in the Cayman Islands, where they are
incorporated.

The funds are Soundview Elite (Bankr. S.D.N.Y. Case No. 13-13098)
Soundview Premium, Ltd. (Case No. 13-13099); Soundview Star Ltd.
(Case No. 13-13101); Elite Designated (Case No. 13-13102); Premium
Designated (Case No. 13-13103); and Star Designated (Case No.
13-13104).  The petitions were signed by Floyd Saunders as
corporate secretary.  By order dated Oct. 16, 2013, the Court
directed that the Debtors' bankruptcy cases be procedurally
consolidated and jointly administered.

SoundView Elite Ltd. and two similarly named funds were the target
of a winding-up petitions in the Cayman Islands filed in August by
Citco, which had sold its interest in the funds' manager years
before.  An investor, who was removed from the funds' board in
June, filed a different winding-up petition in August, aimed at
three funds created later to hold illiquid assets.

Soundview Elite estimated assets and debts of at least $10
million.  The funds said in a court filing their total cash assets
of about $20 million are held in the U.S., where the funds are
managed.  Court papers list the funds' total assets as $52.8
million, against debt totaling $28 million.

Judge Robert E. Gerber presides over the U.S. cases.

Warren J. Martin, Jr., Esq., Mark J. Politan, Esq., Terri Jane
Freedman, Esq., and Rachel A. Segall, Esq., at Porzio, Bromberg &
Newman, PC, serve as the Debtors' counsel.  CohnReznick LLP serves
as financial advisor.

Peter Anderson and Matthew Wright, as Joint Official Liquidators
of the Debtors, are represented in the U.S. proceedings by John A.
Pintarelli, Esq., James J. Beha, II, Esq., William H. Hildbold,
Esq., at Morrison & Foerster LLP.

The U.S. Trustee solicited for the formation of an official
committee of unsecured creditors, but to date one has not been
formed.


SOURCEGAS LLC: Fitch Affirms 'BB+' IDR & Revises Outlook to Pos.
----------------------------------------------------------------
Fitch Ratings has affirmed SourceGas LLC's (SGL) 'BB+' long-term
Issuer Default Rating (IDR) and 'BBB-' senior unsecured debt
rating.  The Rating Outlook is revised to Positive from Stable.
Approximately $325 million of senior notes is affected by today's
rating action.

KEY RATING DRIVERS

Low-Risk Utility Business: SGL conducts its regulated natural gas
distribution businesses in four states: Arkansas, Colorado,
Nebraska, and Wyoming.  Regulated activities account for over 90%
of gross margin.  Commodity costs are a straight pass-through to
customers via recovery mechanisms.  Fixed service charges and base
load represent over 60% of revenues and SGL has weather
normalization in Arkansas, further reducing earnings and cash flow
volatility.

Elevated Capital Investment Program: SGL's capital investment
budget is expected to remain elevated over the five-year forecast
period, with customer growth averaging approximating 1.5% annually
and organic growth projects including the recently approved system
build-out to connect the Big River Steel project in northeast
Arkansas.  Management projects capital investment at approximately
$160 million in 2014 and $140 million in 2015, levels
approximately 50% above historical capital investments from 2010
to 2013.  Rate base growth is projected at 50% over the five-year
period from 2014 to 2018.

Utility Leverage Pressured: The elevated capex spend will continue
to pressure leverage.  Fitch expects SGL's equity base to be
maintained at 50% to 51 % over the forecast period, modestly
stronger than the prior capitalization estimate of 48% to 50%
equity.  While the higher equity component will modestly alleviate
leverage pressure, the continued lag in recovery on new capital
investments will weigh on key leverage and coverage.  SGL benefits
from recovery riders on capital investments for system upgrades
for meter and pipe replacements that cover approximately 60% of
capital investments but the rapid growth will continue to result
in a timing lag between investment and recovery on investment.

Stable Credit Metrics: SGL's profitability and interest coverage
metrics are generally strong for the ratings category while
leverage metrics are modestly below peers.  Fitch expects EBITDAR-
to-Interest to average around 4.5x over its forecast period while
Debt-to-EBITDA will approximate 4.8x.  Using a quarterly
outstanding debt average rather than a Dec. 31 period-end balance,
which neutralizes the impact of seasonal debt for working capital
needs, leverage measures improve by approximately 30 basis points.
Further modest improvement in leverage is expected as the capex
cycle matures and investments enter rate base.

Leveraged Holding Company Structure: SGL is a wholly-owned
subsidiary of SourceGas Holding LLC (SGH, not rated by Fitch), the
ownership vehicle created by affiliates of General Electric and
Alinda Investments LLC to execute the leveraged buyout of the
regulated natural gas business from Kinder Morgan in 2007.  SGH is
managed to a total debt-to-capitalization level of 70%.  SGH is
reliant on dividends from SGL to service its debt; SGL in-turn is
reliant on SGH for equity to support its capital structure during
the elevated capex spend period.  Ultimately, General Electric and
Alinda, the owners, will need to provide sufficient equity for SGH
to be capitalized at 30% equity and SGL to be capitalized with 50%
to 51% equity.

Financial Flexibility: Fitch considers SGL's financial flexibility
as somewhat constrained as a private company limiting capital
access and by a relatively short-dated debt maturity structure.
SGL's debt maturities, primarily consisting of $150 million of
term debt due in 2016 and $325 million of notes due in 2017
present a degree of market risk at the time of refinancing.

Liquidity

Fitch considers SGL's liquidity to be adequate, supported by a
$175 million revolving credit facility due in 2016 to fund
cyclical working capital needs, fund capital investments not met
by internally generated funds, and general corporate purposes.
Covenants include a debt to capital limit of 65%.

RATING SENSITIVITIES

Positive: Future, developments that may, individually or
collectively lead to a positive rating action include:

   -- The Positive Outlook incorporates Fitch's expectation of an
      improving financial profile as the capital investment cycle
      peaks in 2014 and new investments enter rate base.  Funds
      from operations adjusted leverage sustained below 4.75x to
      5.25x (Fitch models 5.2x in 2014) could lead to a one-notch
      upgrade.

Negative: Future, developments that may, individually or
collectively lead to a negative rating action include:

   -- A meaningful increase in leverage at either SGL or SGH;
   -- Higher up-stream dividends from SGL to SGH;
   -- Deterioration in operating performance from regulatory
      outcomes that prevent timely and adequate recovery of
      invested capital.

Fitch has affirmed these ratings with a Positive Outlook:

SourceGas LLC

   -- Long-term IDR at 'BB+';
   -- Senior unsecured notes at 'BBB-'.


SPIRE CORP: CEO LaFavre Elected to Board of Directors
-----------------------------------------------------
The Board of Directors of Spire Corporation elected Rodger W.
LaFavre, the Company's chief executive officer and president, to
the Board, effective Sept. 9, 2014.  Mr. LaFavre will hold office
until the next Annual Meeting of Stockholders and until his
successor is duly elected.  As an employee director, Mr. LaFavre
will not receive compensation for his service on the Board.

                          About Spire Corp

Bedford, Massachusetts-based Spire Corporation currently develops,
manufactures and markets customized turn-key solutions for the
solar industry, including individual pieces of manufacturing
equipment and full turn-key lines for cell and module production
and testing.

Spire Corporation reported a net loss of $8.52 million in 2013, as
compared with a net loss of $1.85 million in 2012.

As of June 30, 2014, the Company had $9.34 million in total
assets, $14.19 million in total liabilities and a $4.85 million
total stockholders' deficit.

McGladrey 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 incurred an operating loss from continuing operations
of $8.4 million and cash used in operating activities of
continuing operations was $5.2 million.  The Company's credit
agreement with a bank is due to expire on April 30, 2014.  These
factors raise substantial doubt about its ability to continue as a
going concern.


STANFORD GROUP: SEC Drops Fight to Compel SIPC Repay Victims
------------------------------------------------------------
Law360 reported that the U.S. Securities and Exchange Commission
won't be challenging the D.C. Circuit's July ruling preventing the
SEC from ordering Securities Investor Protection Corp. to
compensate victims of Robert Allen Stanford's $7 billion Ponzi
scheme, a spokesman for the agency said.  According to the report,
the statement said that, after "very careful deliberation," the
SEC decided not to seek further review of the appellate court's
decision that upheld a district court ruling on the SIPC.

The case is SEC v. Securities Investor Protection, Case No.
12-5286.

                       About Stanford Group

The Stanford Financial Group was a privately held international
group of financial services companies controlled by Allen
Stanford, until it was seized by United States (U.S.) authorities
in early 2009.

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under
management or advisement.  Stanford Private Wealth Management
served more than 70,000 clients in 140 countries.

On Feb. 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and
records of Stanford International Bank, Ltd., Stanford Group
Company, Stanford Capital Management, LLC, Robert Allen Stanford,
James M. Davis and Laura Pendergest-Holt and of all entities they
own or control.  The February 16 order, as amended March 12,
2009, directs the Receiver to, among other things, take control
and possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.

The case in district court was Securities and Exchange Commission
v. Securities Investor Protection Corp., 11-mc-00678, U.S.
District Court, District of Columbia (Washington).

The U.S. Securities and Exchange Commission, on Feb. 17, charged
before the U.S. District Court in Dallas, Texas, Mr. Stanford and
three of his companies for orchestrating a fraudulent, multi-
billion dollar investment scheme centering on an US$8 billion
Certificate of Deposit program.

A criminal case was pursued against him in June before the U.S.
District Court in Houston, Texas.  Mr. Stanford pleaded not
guilty to 21 charges of multi-billion dollar fraud, money-
laundering and obstruction of justice.  Assistant Attorney
General Lanny Breuer, as cited by Agence France-Presse News, said
in a 57-page indictment that Mr. Stanford could face up to 250
years in prison if convicted on all charges.  Mr. Stanford
surrendered to U.S. authorities after a warrant was issued for
his arrest on the criminal charges.


STOCKTON, CA: Franklin Templeton Blasts Treatment In Plan
---------------------------------------------------------
Law360 reported that holdout creditor Franklin Templeton
Investments urged a California bankruptcy judge to reject the city
of Stockton's plan to exit Chapter 9 bankruptcy, arguing the plan
is unfair because it would pay the city's prepetition liabilities
for unfunded pensions in full while forcing Franklin to accept a
recovery of less than 1 percent.  According to the report, in a
post-trial brief, Franklin asserted that the court should deny
confirmation of Stockton's plan of adjustment and "send the city
back to the drawing board."

Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that any opinion by U.S. Bankruptcy Judge
Christopher M. Klein on whether retirees and their pensions can be
treated better than bondholders and unsecured creditors will be
helpful or a challenge to distinguish if U.S. Bankruptcy Judge
Steven Rhodes in Michigan reaches an opposite result in Detroit's
Chapter 9 case.

                      About Stockton, Calif.

The City of Stockton, California, filed a Chapter 9 petition
(Bankr. E.D. Cal. Case No. 12-32118) in Sacramento on June 28,
2012, becoming the largest city to seek creditor protection in
U.S. history.  The city was forced to file for bankruptcy after
talks with bondholders and labor unions failed.  Stockton
estimated more than $1 billion in assets and in excess of
$500 million in liabilities.

The city, with a population of about 300,000, identified the
California Public Employees Retirement System as the largest
unsecured creditor with a claim of $147.5 million for unfunded
pension costs.  In second place is Wells Fargo Bank NA as trustee
for $124.3 million in pension obligation bonds.  The list of
largest creditors includes $119.2 million owing on four other
series of bonds.

The city is being represented by Marc A. Levinson, Esq., and John
W. Killeen, Esq., at Orrick, Herrington & Sutcliffe LLP.  The
petition was signed by Robert Deis, city manager.

Mr. Levinson also represented the city of Vallejo, Cal. in its
2008 bankruptcy.  Vallejo filed for protection under Chapter 9
(Bankr. E.D. Cal. Case No. 08-26813) on May 23, 2008, estimating
$500 million to $1 billion in assets and $100 million to $500
million in debts in its petition.  In August 2011, Vallejo was
given green light to exit the municipal reorganization.   The
Vallejo Chapter 9 plan restructures $50 million of publicly held
debt secured by leases on public buildings.  Although the Plan
doesn't affect pensions, it adjusts the claims and benefits of
current and former city employees.  Bankruptcy Judge Michael
McManus released Vallejo from bankruptcy on Nov. 1, 2011.

The bankruptcy judge on April 1, 2013, ruled that the city of
Stockton is eligible for municipal bankruptcy in Chapter 9.


STRADELLA INVESTMENT: Bankruptcy Case Converted to Chapter 7
------------------------------------------------------------
The U.S. Bankruptcy Court converted the Chapter 11 case of
Stradella Investments, Inc., to one under Chapter 7 of the
Bankruptcy Code.

Peter C. Anderson, U.S. Trustee, sought case conversion.

The Chapter 11 trustee for the Debtor consented to the conversion
of the case.

San Juan Capistrano, California-based Stradella Investments, Inc.,
filed for Chapter 11 bankruptcy protection (Bankr. C.D. Cal.
Case No. 10-23193) on Sept. 19, 2010.  Timothy J. Yoo, Esq., at
Levene Neale Bender Rankin & Brill LLP, assists the Debtor in its
restructuring effort.  The Debtor disclosed $25,000,000 in assets
and $121,000,671 in liabilities in its schedules.

The Debtor's primary assets is a $25 million promissory note in
its favor made out by RM Eagle, LLC, in connection with the
purchase of certain real property.  RM Eagle defaulted on a
construction loan with respect to the development of the Property,
and the lender foreclosed on RM Eagle.  An affiliate of Stark
Investments is currently the title holder of the Property.  The
Note is secured by a deed of trust on the Property.

Under the Plan filed by the Debtor in February 2013, creditors are
to be paid in full over time from the proceeds of the Debtor's
assets.  General unsecured creditors will be paid from any amounts
remaining from the proceeds of the note after Secured Creditors
are paid.  Holders of equity interests in the Debtor will retain
their interests.


TAMRAC INC: Sells Business, Gets More Time to File Exit Plan
------------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that Tamrac Inc., has sold its business to Gura
Gear LLC for $5.6 million and won an extension of its exclusive
right to propose a Chapter 11 plan until January next year.
According to the report, the sale probably will allow full payment
to unsecured creditors.

Tamrac Inc., a maker of bags for high-end photographic equipment,
filed for Chapter 11 bankruptcy (Bankr. C.D. Cal. Case No. 14-bk-
10076) in Woodland Hills on January 6, 2014.  Judge Maureen Tighe
presides over the case.  The Debtor's counsel is Michael I
Gottfried, Esq., and Roye Zur, Esq., at Landau Gottfried & Berger
LLP, in Los Angeles, California.  The Debtor said it had $1
million to $10 million in assets and around the same amount of
liabilities.  The petition was signed by Jesselyn T. Cyr,
president.


TEC/GULL CREEK: WMD Asset Management Wins Auction
-------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that an affiliate of WMD Asset Management LLC was
named the winning bidder with an offer of about $8 million cash
plus assumption of specified liabilities for the nonprofit, 86-
unit Gull Creek Retirement Community in Berlin, Maryland.
According to the report, sale and Gull Creek's liquidating plan
are both up for approval at a Sept. 17 confirmation hearing.

TEC/Gull Creek, Inc., which provides both independent and assisted
living services to its residents, sought protection under Chapter
11 of the Bankruptcy Code on June 27, 2014.  The case is In re
TEC/Gull Creek, Inc., Case No. 14-20311 (Bankr. D. Md.).  The case
is assigned to Judge Duncan W. Keir.

The Debtor's counsel is James Edward Van Horn, Jr., Esq., at
McGuirewoods LLP, in Baltimore, Maryland.  The Debtor's financial
advisor is Weinsweigadvisors LLC, while its investment banker is
Cassidy Turley Commercial Real Estate Services, Inc.

The Debtor has estimated assets of $1 million to $10 million and
estimated liabilities of $10 million to $50 million.

The petition was signed by Lloyd R. Kitchen, Jr., executive vice
president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mdb14-20311.pdf


TECHNA-FIT INC: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Techna-Fit Inc.
        486 Southpoint Circle, Suite 104
        Brownsburg, IN 46112

Case No.: 14-08524

Chapter 11 Petition Date: September 12, 2014

Court: United States Bankruptcy Court
       Southern District of Indiana (Indianapolis)

Judge: Hon. Robyn L. Moberly

Debtor's Counsel: Erin Casey Nave, Esq.
                  TAFT STETTINIUS & HOLLISTER, LLP
                  One Indiana Square Suite 3500
                  Indianapolis, IN 46204
                  Tel: 317-713-3500
                  Fax: 317-713-3699
                  Email: enave@taftlaw.com

                    - and -

                  Michael P. O'Neil, Esq.
                  TAFT STETTINIUS & HOLLISTER LLP
                  1 Indiana Square, Suite 3500
                  Indianapolis, IN 46204
                  Tel: 317-713-3500
                  Email: moneil@taftlaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Stuart Trotter, president.

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


TN-K ENERGY: Reduces CEO's Annual Salary to $42,000
---------------------------------------------------
TN-K Energy Group, Inc., entered into an amended employment
agreement with Mr. Ken Page, its chief executive officer, on
Aug. 21, 2014, according to a regulatory filing with the U.S.
Securities and Exchange Commission.  Under the terms of the
amendment, Mr. Page's base salary was reduced from $46,000
annually to $42,000 annually, and the Company agreed to pay his
health insurance premiums initially at the rate of $524 per month,
which amount may be increased or decreased upon a change in the
cost of that insurance based upon a subsequent policy providing
identical coverage.  The amendment memorialized an oral agreement
between the parties entered into in May 2014.

                         About TN-K Energy

Crossville, Tenn.-based TN-K Energy Group, Inc., an independent
oil exploration and production company, engaged in acquiring oil
leases and exploring and developing crude oil reserves and
production in the Appalachian basin.

TN-K Energy disclosed net income of $3.97 million on $1.88 million
of total revenue for the year ended Dec. 31, 2012, as compared
with net income of $1.25 million on $1.88 million of total revenue
in 2011.

As of June 30, 2014, the Company had $2.21 million in total
assets, $3.92 million in total liabilities, and a $1.71 million
total stockholders' deficit.

Liggett, Vogt & Webb, P.A., in New York, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2012.  The independent auditors noted that
the Company has incurred recurring operating losses and will have
to obtain additional financing to sustain operations.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


TRANS-LUX CORP: Carlisle Investments Reports 11% Equity Stake
-------------------------------------------------------------
In a Schedule 13D filed with the U.S. Securities and Exchange
Commission, Carlisle Investments Inc. disclosed that as of
June 20, 2014, it beneficially owned 180,366 shares of common
stock of Trans-Lux Corporation representing 11 percent of the
shares outstanding.

On June 20, 2014, the Company entered into a securities purchase
agreement with Carlisle pursuant to which Carlisle purchased
166,666 shares of the Company's Common Stock at a price of $6.00
per share, for an aggregate purchase price of $1,000,000.

A copy of the regulatory filing is available for free at:

                       http://is.gd/qlfUnS

                    About Trans-Lux Corporation

Norwalk, Conn.-based Trans-Lux Corporation (NYSE Amex: TLX) is a
designer and manufacturer of digital signage display solutions for
the financial, sports and entertainment, gaming and leasing
markets.

Trans-Lux Corporation reported a net loss of $1.86 million on
$20.90 million of total revenues for the year ended Dec. 31, 2013,
as compared with a net loss of $1.36 million on $23.02 million of
total revenues in 2012.

The Company's balance sheet at June 30, 2014, showed $18.54
million in total assets, $16.47 million in total liabilities, and
a stockholders' equity of $2.07 million.

BDO USA, LLP, in Melville, NY, 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 and has
a significant working capital deficiency that raise substantial
doubt about its ability to continue as a going concern.  Further,
the Company is in default of the indenture agreements governing
its outstanding 9 1/2 Subordinated debentures which was due in
2012 and its 8 1/4 percent Limited convertible senior subordinated
notes which was due in 2012 so that the trustees or holders of 25
percent of the outstanding Debentures and Notes have the right to
demand payment immediately.  Additionally, the Company has a
significant amount due to their pension plan over the next 12
months.


TRAVELPORT WORLDWIDE: To Sell 30 Million Shares of Common Stock
---------------------------------------------------------------
Travelport Worldwide Limited intends to offer 30,000,000 of its
common shares, according to a filing with the Securities and
Exchange Commission.

This is the Company's initial public offering and no public market
currently exists for its common shares.  The Company anticipates
that the initial public offering price will be between $14.00 and
$16.00 per share.  The Company has applied to list its common
shares on the New York Stock Exchange under the symbol TVPT.

The Company estimates that the net proceeds to the Company from
this offering, after deducting underwriting discounts and
commissions and estimated offering expenses payable by the
Company, will be approximately $417 million (or $480 million if
the underwriters exercise in full their option to purchase
additional common shares).

The Company intends to use the net proceeds to reduce its
outstanding indebtedness and certain other liabilities.

A copy of the amended prospectus is available at:

                        http://is.gd/swk4d8

                      About Travelport Worldwide

Travelport Worldwide Limited is a travel commerce platform
providing distribution, technology, payment and other solutions
for the global travel and tourism industry.

As of June 30, 2014, the Company had $3.01 billion in total
assets, $4.08 billion in total liabilities and a $1.07 billion
total deficit.  The Company reported a net loss of $203 million in
2013 following a net loss of $292 million in 2012.

                           *     *     *

As reported by the TCR on Sept. 8, 2014, Standard & Poor's Ratings
Services raised to 'B-' from 'CCC+' its long-term corporate credit
ratings on U.K.-based travel services provider Travelport
Worldwide Limited and its new wholly owned financing entity,
Travelport Finance (Luxembourg) S.a.r.l. (Travelport Finance).
The outlook is stable.


TRI COUNTY CONTRACTORS: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Tri County Contractors, Inc.
        115 Riley Drive
        Jackson, MS 39209

Case No.: 14-02915

Chapter 11 Petition Date: September 12, 2014

Court: United States Bankruptcy Court
       Southern District of Mississippi
       (Jackson-3 Divisional Office)

Judge: Hon. Edward Ellington

Debtor's Counsel: James G McGee, Jr., Esq.
                  LAW OFFICE OF JAMES G. MCGEE, JR., PLLC
                  125 South Congress St.
                  Capitol Towers, Suite 1240
                  Jackson, MS 39201
                  Tel: (601) 965-6157
                  Fax: (601) 956-6166
                  Email: jmcgee@mcgeetaxlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John K. Hunter, president.

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


TRIPLANET PARTNERS: Hearing on Case Dismissal Moved to Oct. 15
--------------------------------------------------------------
The Bankruptcy Court adjourned to Oct. 15, 2014, at 10:00 a.m.,
the hearing to consider creditor Benjamin Roberts' motion to
dismiss the Chapter 11 case of Triplanet Partners LLC, or,
alternatively, for relief from the automatic stay.

The hearing was previously adjourned to Sept. 8.

As reported by the Troubled Company Reporter, prior to filing the
Chapter 11 petition, the Debtor and its management team were named
as defendants in a civil case filed by Roberts in Connecticut
State Court.  Roberts contends that the Debtor has violated the
state wage statute, committed fraud, breached fiduciary duties,
and converted assets of nearly $9 million.  Roberts obtained a
Prejudgment Attachment Order against the Debtor and its managers,
and attempted to seize the Debtor's assets.  The Debtor then filed
its Chapter 11 Petition in an attempt to reorganize its business
and pay all creditors their proportional shares of the Debtor's
estate.

The Debtor intended to name a chief restructuring officer to act
as its principle decision-maker in its reorganization efforts.

Mr. Roberts has opposed the CRO appointment.  While Mr. Roberts
contended that the case is a two-party dispute and that he is the
primary creditor, in actuality the Debtor has fifteen creditors
who hold more than $32 million in claims against the Debtor.

The Debtor argued that contrary to Mr. Roberts' assertions, it did
not file its Chapter 11 case in bad faith, and as a means to re-
litigate the state court action.  The Debtor filed its petition so
that it could attempt to reorganize before Roberts could marwill
all of its assets.  Additionally, the Debtor argued it is not
improperly utilizing Chapter 11.  It is, in fact, using Chapter 11
legitimately in an attempt to reorganize and pay its just debts.
The Debtor pointed out that the burden is on Mr. Roberts to prove
bad faith on the part of the Debtor, and he has failed to do so.

                  About Triplanet Partners LLC

Triplanet Partners LLC filed a Chapter 11 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 14-22643) on May 8, 2014.  Sophien
Bennaceur signed the petition as manager.  The Debtor disclosed
$19,946,560 in assets and $33,663,525 in liabilities.  Arnold
Mitchell Greene, Esq., at Robinson Brog Leinwand Greene Genovese &
Gluck, P.C., serves as the Debtor's counsel.  Judge Robert D.
Drain oversees the case.

No official committee of unsecured creditors has been appointed in
the case.


TRIPLANET PARTNERS: Lease Extension Hearing Moved to Oct. 15
------------------------------------------------------------
The Bankruptcy Court adjourned until Oct. 15, 2014, the hearing on
Triplanet Partners LLC's motion extension of its time to assume or
reject non-residential real property lease.

The Debtor asked for an extension until Dec. 4.  The Debtor filed
their request for an extension before the lease decision period
was set to expire on Sept. 5.

Triplanet Partners LLC filed a Chapter 11 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 14-22643) on May 8, 2014.  Sophien
Bennaceur signed the petition as manager.  The Debtor disclosed
$19,946,560 in assets and $33,663,525 in liabilities.  Arnold
Mitchell Greene, Esq., at Robinson Brog Leinwand Greene Genovese &
Gluck, P.C., serves as the Debtor's counsel.  Judge Robert D.
Drain oversees the case.

No official committee of unsecured creditors has been appointed in
the case.


TRIPLANET PARTNERS: Files Exhibit on Stamell & Schager Hiring
-------------------------------------------------------------
Triplanet Partners, LLC, filed with the Bankruptcy Court an
exhibit of the settlement in connection with the motion to employ
Stamell & Schager, LLP as special litigation counsel.

Benjamin Roberts had objected to the Debtor's application to hire
the firm.  To address the objection, the Debtor said that, among
other things:

   1. prior to any increases in S&S' rates for any individual
employed or retained by S&S and providing services in the case,
S&S will file a supplemental affidavit with the Court and provide
ten business days' notice to the Debtor, the U.S. Trustee and any
official committee;

   2. notwithstanding anything to the contrary in the application,
S&S will not withdraw as Debtor's counsel prior to the effective
date of any chapter 11 plan confirmed in the Chapter 11 case
without prior approval of the Court in accordance with Local
Bankruptcy Rule 2090-1(e); and

   3. S&S will be compensated for fees and reimbursed for
reasonable and necessary expenses and will file interim and final
fee applications for allowance of its compensation and expenses.

As reported in the Troubled Company Reporter on Aug. 12, 2014, as
special litigation counsel, Stamel & Schager is expected to
render these services:

   a. represent the Debtor in adversary and other proceedings
      concerning claims by alleged employers, members or
      shareholders of amounts due to or due from the Debtor;

   b. advise in preparing tax returns and appearing before
      various tax authorities to work out the amount and payment
      of taxes owed by the Debtor;

   c. marshal the Debtor's documents and other information in
      connection with the Debtor's financial statements; and

   d. performing all other legal services for the Debtor that may
      be necessary in connection with Roberts' contested claim and
      any contested claim.

Customary rates of the Firm's professionals are:

    Professional                     Hourly Rate
    ------------                     -----------
    Jared B. Stamell                 $725 per hour
    Andrew Goldenberg                $475 per hour
    Paraprofessionals                $250 per hour

Jared B. Stamell, Esq., attests that his Firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

                  About Triplanet Partners LLC

Triplanet Partners LLC filed a Chapter 11 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 14-22643) on May 8, 2014.  Sophien
Bennaceur signed the petition as manager.  The Debtor disclosed
$19,946,560 in assets and $33,663,525 in liabilities.  Arnold
Mitchell Greene, Esq., at Robinson Brog Leinwand Greene Genovese &
Gluck, P.C., serves as the Debtor's counsel.  Judge Robert D.
Drain oversees the case.

No official committee of unsecured creditors has been appointed in
the case.


TRIPLANET PARTNERS: Wants Until Jan. 5 to Propose Chapter 11 Plan
-----------------------------------------------------------------
Triplanet Partners LLC asks the Bankruptcy Court to extend its
exclusive periods to file a plan of reorganization until Jan. 5,
2015, and solicit acceptances for that plan until March 6.

This is the Debtor's first request for extension.  The Debtor
filed their request for an extension before the exclusive periods
was set to expire on Sept. 5.

The Debtor says it needs more time as it has been embroiled in
litigation with a former employee, Benjamin Roberts, who has moved
to dismiss the case.

                  About Triplanet Partners LLC

Triplanet Partners LLC filed a Chapter 11 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 14-22643) on May 8, 2014.  Sophien
Bennaceur signed the petition as manager.  The Debtor disclosed
$19,946,560 in assets and $33,663,525 in liabilities.  Arnold
Mitchell Greene, Esq., at Robinson Brog Leinwand Greene Genovese &
Gluck, P.C., serves as the Debtor's counsel.  Judge Robert D.
Drain oversees the case.

No official committee of unsecured creditors has been appointed in
the case.


VAIL RESORTS: Park City Deal No Impact on Moody's 'Ba2' CFR
-----------------------------------------------------------
Moody's Investors Service said that Vail Resorts' (NYSE: MTN)
acquisition of Park City Mountain Resort (PCMR) is a credit
positive, but it does not immediately impact the company's Ba2
Corporate Family Rating (CFR) or stable outlook.

Vail Resorts Inc. is a publicly-traded holding company (NYSE:MTN)
that owns and operates nine premier ski resort properties through
its subsidiaries, including four in the Colorado Rocky Mountains
(Vail, Breckenridge, Keystone and Beaver Creek), three in the Lake
Tahoe area of California and Nevada (Heavenly, Northstar and
Kirkwood), and two in Park City, Utah (Canyons and Park City
Mountain). Vail also owns two urban ski areas, one in Minnesota
and another in Michigan, and runs ancillary businesses at all of
its resorts including ski school, dining and retail/rental
operations. The company also owns and/or manages a number of
lodging properties and condominiums located in proximity to its
ski resorts. In addition, Vail owns and develops real estate in
and around its resort communities. Operations are grouped into
three reportable segments: Mountain, Lodging, and Real Estate,
which represented approximately 78%, 19%, and 3% of net revenues
for the twelve months ended April 30, 2014. Net revenues during
the same period were approximately $1.23 billion.


VERIS GOLD: Wins Chapter 15 Protection in Nevada
------------------------------------------------
During a hearing held August 29, 2014, the United States
Bankruptcy Court for the District of Nevada (i) recognized Veris
Gold Corp.'s proceedings under the Companies' Creditors
Arrangement Act as a foreign main proceeding pursuant to Chapter
15 of the U.S. Bankruptcy Code, (ii) determined that Canada was
Veris' center of main interest, and (iii) recognized the Monitor
as Veris' foreign representative.

The US Court also approved the CCO which allows the Company to
continue to operate throughout these proceedings in accordance
with the parameters established therein.

By order dated September 9, 2014, the US Court also recognized the
Canadian Claims Order.

                     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.

The Company has been operating under creditor protection pursuant
to the Companies' Creditors Arrangement Act since June 9, 2014.
Ernst & Young, Inc. has been appointed as CCAA Monitor.


VERIS GOLD: Obtains Extension of CCAA Stay Period Thru October
--------------------------------------------------------------
Veris Gold Corp. on Sept. 12 disclosed that it has obtained an
order from the Supreme Court of British Columbia as of
September 4, 2014 extending the period of the Court-ordered stay
of proceeding against Veris and its subsidiaries under the
Companies' Creditors Arrangement Act up to and including October
10, 2014.

All inquiries regarding Veris' CCAA proceeding should be directed
to the Monitor, Ernst & Young, Inc.: 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
on the Monitor's website: http://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.

The Company has been operating under creditor protection pursuant
to the Companies' Creditors Arrangement Act since June 9, 2014.
Ernst & Young, Inc. has been appointed as CCAA Monitor.


VERIS GOLD: Cash Collateral Use, Claims Process Approved
--------------------------------------------------------
Veris Gold Corp. disclosed that the Supreme Court of British
Columbia recognized the Final Cash Collateral Order conditioning
the use of cash collateral and providing adequate protection to
Deutsche Bank AG, London Branch, and approved a claim process for
creditors to file claims against Veris.

All inquiries regarding Veris' CCAA proceeding should be directed
to the Monitor, Ernst & Young, Inc.: 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
on the Monitor's website: http://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.

The Company has been operating under creditor protection pursuant
to the Companies' Creditors Arrangement Act since June 9, 2014.
Ernst & Young, Inc. has been appointed as CCAA Monitor.


WEATHERBEE INVESTMENT: Case Summary & 7 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Weatherbee Investment, LLC
        2112 South Congress Ave, Suite 208
        West Palm Beach, FL 33406

Case No.: 14-30471

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: September 12, 2014

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Hon. Erik P. Kimball

Debtor's Counsel: David W. Langley, Esq.
                  DAVID W. LANGLEY
                  8551 W Sunrise Blvd # 303
                  Fort Lauderdale, FL 33322
                  Tel: 954-356-0450
                  Fax: 954-356-0451
                  Email: dave@flalawyer.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gregg Wexler, manager.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/flsb14-30471.pdf


WEST TEXAS GUAR: Disclosure Statement Hearing Set for Sept. 24
--------------------------------------------------------------
A hearing on the approval of West Texas Guar, Inc.'s joint
disclosure statement explaining its proposed plan of
reorganization will be held on September 24, 2014, at 1:30 p.m.

The Debtor filed with the U.S. Bankruptcy Court for the Northern
District of Texas the Plan and Disclosure Statement on August 25,
2014.  The Plan, which the Debtor co-proposed with Scopia Windmill
Fund LP, would allow the Company to continue to operate, process
guar beans, and sell them for money to pay creditors while the
Court litigates the lien rights of Scopia and the guar bean
producers.

Edgar Montalvo, who has been working as West Texas Guar's chief
restructuring officer since April 9, will continue to manage the
operations of the Company, which will be owned by Scopia.
Farmers, who supplied beans to West Texas Guar during the 2013-
2014 growing season, will receive a percentage distribution based
on the outcome of current pending litigation in connection with
the validity and priority of their liens.

A copy of the Disclosure Statement is available for free at
http://is.gd/P1ju6r.

                      About West Texas Guar

Representatives of 24 farms filed an involuntary Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 14-50056) on March
14, 2014, against West Texas Guar Inc.  The farmers claim they are
owed nearly $4 million for seed they've delivered on the 2013
harvest but haven't been paid for.  Guar is a seed crop that has a
variety of uses in human and animal food production, textiles and
fracking for oil and gas wells.

Judge Robert L. Jones oversees the case.  The farmers are
represented by R. Byrn Bass, Jr., Esq., Attorney at Law.

WTG is represented by Samuel M. Stricklin, Esq., Tricia R. DeLeon,
Esq., and Lauren C. Kessler, Esq., at Bracewell & Giuliani LLP, in
Dallas, Texas.

WTG and Scopia Windmill Fund LP filed a Joint Plan of
Reorganization and Disclosure Statement on August 25, 2014.  The
Disclosure Statement hearing is currently scheduled for
September 24, 2014.


WEST TEXAS GUAR: Hearing on Bid to Appoint Trustee on Sept. 18
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
schedules a hearing for September 18, 2014, at 10:00 a.m., to
consider a motion asking for the appointment of a trustee to
monitor the involuntary Chapter 11 case of West Texas Guar, Inc.

The request is filed by creditors who are local farmers -- Circle
B. Farms, Inc., Bill and Lisa Barnes Joint Venture, Joe D. Barnes
Farm Company, 2B Farms, Inc., B&B Harlan Farms, Tommy Mason, Short
Farms, Danny Cook, David Cook, Rustin Knight, James Bridwell, Brad
Cude, Chad Raines, Key Farms, Inc., and Harvey Dell Knight.

The Debtor objected to the motion, arguing that no cause exists to
appoint a trustee under the facts of the case.  The Debtor
contends that appointing a trustee is an extraordinary remedy and
there is a strong presumption in favor of allowing it to remain in
possession of the bankruptcy estate.

                      About West Texas Guar

Representatives of 24 farms filed an involuntary Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 14-50056) on March
14, 2014, against West Texas Guar Inc.  The farmers claim they are
owed nearly $4 million for seed they've delivered on the 2013
harvest but haven't been paid for.  Guar is a seed crop that has a
variety of uses in human and animal food production, textiles and
fracking for oil and gas wells.

Judge Robert L. Jones oversees the case.  The farmers are
represented by R. Byrn Bass, Jr., Esq., Attorney at Law.

WTG is represented by Samuel M. Stricklin, Esq., Tricia R. DeLeon,
Esq., and Lauren C. Kessler, Esq., at Bracewell & Giuliani LLP, in
Dallas, Texas.

WTG and Scopia Windmill Fund LP filed a Joint Plan of
Reorganization and Disclosure Statement on August 25, 2014.  The
Disclosure Statement hearing is currently scheduled for
September 24, 2014.


WEST TEXAS GUAR: Toyota Seeks to Repossess Tundra Vehicle
---------------------------------------------------------
Toyota Motor Credit Corporation asks the U.S. Bankruptcy Court for
the Northern District of Texas for relief from the automatic stay
imposed pursuant to Section 362 of Bankruptcy Code.

Toyota, a corporation doing business in Texas, is a lessor of a
2014 Toyota Tundra, Vehicle Identification No. 5TFAW5F1XEX341209,
to the Debtor.  The lease payments are $869 per month.

Stephen G. Wilcox, Esq., at Wilcox Law, PLLC, in Fort Worth, Texas
-- swilcox@wilcoxlaw.net -- informs the Court that as of August
15, 2014, the account is due for the March 23, 2014 payment and
all payments due since that time.  He asserts that because of the
automatic stay, Toyota could and would repossess the vehicle.

Accordingly, Toyota asks the Court:

   * for relief from automatic stay and compel West Texas Guar,
     Inc., to reject the lease;

   * for authority to take immediate possession of the vehicle
     and dispose of the vehicle without further notice to the
     Debtor or any other party-in-interest, and to require the
     Debtor to provide Toyota with the location of the vehicle;
     or

   * in the alternative, to require the Debtor to provide Toyota
     with adequate protection of its interest and to promptly
     cure existing arrearage to Toyota and remain current on the
     Debtor's obligations to Toyota;

Mr. Wilcox contends that Toyota does not have and the Debtor is
not able to offer adequate protection of Toyota's interest in the
vehicle.  He adds that the Debtor has no equity in the vehicle and
it is not necessary for an effective reorganization.

A hearing on the motion will be held on October 22, 2014, at 1:30
p.m.  Objections to the request are due on September 23.

                      About West Texas Guar

Representatives of 24 farms filed an involuntary Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 14-50056) on March
14, 2014, against West Texas Guar Inc.  The farmers claim they are
owed nearly $4 million for seed they've delivered on the 2013
harvest but haven't been paid for.  Guar is a seed crop that has a
variety of uses in human and animal food production, textiles and
fracking for oil and gas wells.

Judge Robert L. Jones oversees the case.  The farmers are
represented by R. Byrn Bass, Jr., Esq., Attorney at Law.

WTG is represented by Samuel M. Stricklin, Esq., Tricia R. DeLeon,
Esq., and Lauren C. Kessler, Esq., at Bracewell & Giuliani LLP, in
Dallas, Texas.

WTG and Scopia Windmill Fund LP filed a Joint Plan of
Reorganization and Disclosure Statement on August 25, 2014.  The
Disclosure Statement hearing is currently scheduled for
September 24, 2014.


WINDSOR QUALITY: Moody's Affirms 'B2' Corporate Family Rating
-------------------------------------------------------------
Moody's Investors Service, Inc. affirmed the ratings of Windsor
Quality Food Co. Ltd. and revised the outlook to developing from
positive after Ajinomoto Co. Inc., a Tokyo-based seasoning and
food company, announced that it had entered into an agreement to
acquire Windsor's frozen foods business for $800 million. Ratings
affirmed include the B1 Corporate Family Rating, B1-PD Probability
of Default Rating, and B2 instrument rating on the company's $350
million senior secured term loan. The companies expect the
transaction to close by November 2014.

The proposed sale includes only Windsor's frozen processed foods
business, which generates approximately $670 million in sales.
Windsor's Quality Sausage division, which produces pre-cooked
meats and pizza toppings, will be spun off to Windsor's
shareholders prior to the sale. Quality Meats generates annual
sales of approximately $130 million.

Upon closing, Windsor will retire all of its debt -- principally,
the $350 million senior secured Term Loan B -- and all of
Windsor's ratings will be withdrawn.

Ratings Rationale

Windsor's B1 Corporate Family Rating reflects the company's
leading US market position in ethnic frozen foods, modest
financial leverage and solid liquidity profile. These positives
are offset by the company's relatively small scale and limited
product diversity, recent operational challenges in some plants,
high dairy and protein costs that have hurt gross margins, and
softness in the frozen appetizer category due partly to weak US
consumer discretionary spending this year.

Windsor Quality Food Co. Ltd.:

Ratings affirmed:

  Corporate Family Rating at B1;

  Probability of Default Rating at B1-PD;

  $350 million senior secured Term Loan B due 2020 at B2, LGD4.

The outlook is Developing.

All ratings will withdrawn upon the completion of the proposed
sale.

The principal methodology used in this rating was Global Packaged
Goods published in June 2013. Other methodologies used include
Loss Given Default for Speculative-Grade Non-Financial Companies
in the U.S., Canada and EMEA published in June 2009.

Windsor Quality Food Company Ltd. ("Windsor") based in Houston
Texas, is a privately-held manufacturer of branded and private
label frozen foods. The company's two major divisions are Windsor
Foods, which specializes in ethnic and other frozen food
categories (e.g., Mexican, Asian, Italian, and coated appetizers)
sold through foodservice, consumer and industrial distribution
channels and Quality Sausage, which produces pre-cooked meats and
pizza toppings for industrial and foodservice channels. The
company generated net sales of approximately $800 million for the
twelve months ended June 28, 2014.

Windsor is controlled in all material aspects by HM International,
LLC, a privately held partnership of the Hojel and Meinig
families.

Ajinomoto Co., Inc. (Ajinomoto Co.) is a global manufacturer of
high-quality seasonings, processed foods, beverages, amino acids,
pharmaceuticals and specialty chemicals. Founded in 1909 and now
operating in 26 countries and regions, Ajinomoto Co. had
consolidated net sales of JPY 991.3 billion (USD 11.0 billion) in
fiscal 2013.


WORLD IMPORTS: Courts Approves Cash Collateral Stipulation
----------------------------------------------------------
The Bankruptcy Court approves a 10th final stipulation allowing
World Imports, Ltd., World Imports South, LLC, World Imports
South, LLC, World Imports Chicago, LLC, and 11000, LLC, to use the
cash collateral of PNC Bank, NA, PNC Equipment Finance, LLC.

The parties agree that the outstanding amounts due to the banks
include:

   (a) $11,174,488 and interest of $6,053 for prepetition line of
       credit loans, together with undrawn letters of credit for
       $153,088;

   (b) $278,395 and interest of $363 for a prepetition term loan;
       and

   (c) $32,964, $51,820, and $388,482 for prepetition leases and
       loans under various schedules.

The banks have duly perfected, valid, first priority liens on and
security interests in the prepetition collateral to secure those
prepetition obligations. As detailed in the stipulation, the banks
are adequately protected.

World Imports will use the cash collateral to fund operations.
They have prepared and submitted budgets to enumerate in detail
projected collections and cash expenses of operations.

World Imports is represented by:

     John E. Kaskey, Esq.
     BRAVERMAN KASKEY PC
     1650 Market Street
     56th Floor
     Philadelphia, PA 19103

The banks are represented by:

     Matthew E. Tashman, Esq.
     Brian M. Schenker, Esq.
     REED SMITH LLP
     1717 Arch Street, Suite 3100
     Philadelphia, PA 19103

                     About World Imports

World Imports, Ltd., filed a Chapter 11 petition (Bankr. E.D. Pa.
Case No. 13-15929) on July 3, 2013, in Philadelphia.  Debtor-
affiliates World Imports South, LLC (Bankr. E.D. Pa. Case No.
13-15933), 11000 LLC (Bankr. E.D. Pa. Case No. 13-15934, and World
Imports Chicago, LLC (Bankr. E.D. Pa. Case No. 13-15935) filed
separate petitions for Chapter 11 relief.  The cases are jointly
administered under Case No. 13-15929.  John E. Kaskey, Esq., at
Braverman Kaskey, P.C., in Philadelphia, serves as counsel to the
Debtors.  World Imports, Ltd., estimated assets and debts of
$10 million to $50 million.  World Imports South, LLC, estimated
assets of $1 million to $10 million.

Roberta A. DeAngelis, United States Trustee for Region 3,
appointed a 3-member Committee of Unsecured Creditors.  Fox
Rothschild LLP as counsel.


WORLDWIDE MIXED: Court Dismisses Involuntary Chapter 11 Case
------------------------------------------------------------
The Hon. Rosemary Gambrella of the U.S. Bankruptcy Court for the
District of New Jersey on Sept. 5 dismissed the involuntary
Chapter 11 bankruptcy case of Worldwide Mixed Martial Arts Sports
Inc.

                About Worldwide Mixed Martial Arts

Lawrence C. May, Edward M. Daspin, and Luigi Agostini filed an
involuntary Chapter 11 case against Boonton, New Jersey-based
Worldwide Mixed Martial Arts Sports, Inc., aka Worldwide Mixed
Martial Arts Sports, Inc. and its subsidiary Worldwide MMA, USA,
Inc. and its parent WMMA Holdings, Inc. (Bankr. D. N.J. Case No.
13-35006) on Nov. 14, 2013.  The Hon. Rosemary Gambardella
presides over the case.

The Court later appointed a Chapter 11 Trustee.  The Chapter 11
Trustee, Alfred T. Giuliano, is represented by Michael G.
Menkowitz, Esq. and Magdalena Schardt, Esq. of Fox Rothschild LLP
of Philadelphia, PA.


YELLOWSTONE MOUNTAIN: $41MM Judgment v. Blixseth Declared Final
---------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that a U.S. district judge in Las Vegas has ruled that a
bankruptcy court had the power to enter a final judgment assessing
$41 million in damages against Timothy Blixseth, the former owner
of the bankrupt Yellowstone Mountain Club LLC.  According to the
report, the $41 million judgment resulted from a ruling by the
bankruptcy judge that Blixseth misapplied cash and property
belonging to the club.  Blixseth is already facing a $219.9
million judgment entered against him in June by a federal district
judge in Los Angeles, the report related.

                      About Yellowstone Mountain

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --
http://www.theyellowstoneclub.com/-- is a private golf and ski
community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Club and its affiliates filed for Chapter 11
bankruptcy (Bankr. D. Montana, Case No. 08-61570) on Nov. 10,
2008.  The Company's owner affiliate, Edra D. Blixseth, filed
a separate Chapter 11 petition on March 27, 2009 (Case No.
09-60452).

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC represented Yellowstone.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer; and James H. Cossitt, Esq., as counsel.  Credit Suisse,
the prepetition first lien lender, was represented by Skadden,
Arps, Slate, Meagher & Flom.

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners LLC acquired equity ownership in the reorganized
Club for $115 million.

Marc S. Kirschner, Esq., was appointed the Trustee of the
Yellowstone Club Liquidating Trust created under the Plan.


ZUERCHER TRUST: Wants to Sell 2400-2424 Bayshore Bvld. Property
---------------------------------------------------------------
Peter S. Kravitz, Chapter 11 Trustee for the bankruptcy case of
The Zuercher Trust of 1999, asks the Hon. Hannah L. Blumenstiel of
the U.S. Bankruptcy Court for the Northern District of California
to approve the auction of certain real property asset of the
Debtor's estate located at 2400-2424 Bayshore Boulevard, San
Francisco, CA 94134.

The Court will conduct on Oct. 2, 2014, at 10:00 a.m. a hearing to
consider the Chapter 11 Trustee's motion to sell.  The Chapter 11
Trustee will also conduct an auction of the Bayshore Property on
the same date.

The Chapter 11 Trustee seeks approval of the sale agreement with
Rasmi Zeidan, subject to overbid at auction.  Under that
agreement, the Bayshore Property will be sold to Mr. Zeidan for
$3.05 million.  Mr. Zeidan has tendered $105,000 to the Chapter 11
Trustee.  If a party other than Mr. Zeidan is determined to be the
successful bidder of the Bayshore Property, then the Chapter 11
Trustee will refund the $105,000 to Mr. Zeidan.

Any party wishing to bid on the Bayshore Property must submit an
offer by actually received no later than 5:00 p.m. (prevailing
Pacific Time) five business days (Sept. 25, 2014).  The minimum
bid amount for a party seeking to overbid is $3.15 million. Each
subsequent overbid must be in an increment of at least $25,000.
The Chapter 11 Trustee must receive a deposit by certified check
or other verifiable means, in the amount of $200,000 so that such
funds are received concurrent with the proposed Offer.

If the sale to the successful bidder fails to close within 45
calendar days upon entry of an order approving the sale, for any
reason other than the inability of the Chapter 11 Trustee to
transfer good title, the deposit will be deemed liquidated damages
and forfeit to the bankruptcy estate.

The Chapter 11 Trustee will be authorized to accept back-up offers
from any qualified bidder for the purchase of the Bayshore
Property.  In the event the sale of the Bayshore Property to the
successful bidder fails to close, the Chapter 11 Trustee may close
a sale to the back-up bidder without further motion or court
order.

              About The Zuercher Trust of 1999

San Mateo, California-based The Zuercher Trust of 1999 filed for
Chapter 11 bankruptcy (Bankr. N.D. Cal. Case No. 12-32747) on
Sept. 26, 2012.  Bankruptcy Judge Hannah L. Blumenstiel presides
over the case.  Derrick F. Coleman, Esq., at Coleman Frost LLP,
served as the Debtor's counsel.  The Debtor is now represented by
Bradley Kass, Esq., at Kass & Kass Law Offices.

The Debtor, a business trust, estimated assets and debts of
$10 million to $50 million.  The Debtor owns property in
621 S. Union Avenue, in Los Angeles.  The property is currently in
REAP for alleged city health code violations.

In its schedules, the Debtor disclosed $28,450,000 in total assets
and $12,084,015 in total liabilities.

The petition was signed by Monica H. Hujazi, trustee of the
Zuercher Trust.

As reported in the TCR on March 22, 2013, August B. Landis, Acting
U.S. Trustee for Region 17, obtained authorization from the U.S.
Bankruptcy Court to appoint Peter S. Kravitz as Chapter 11 Trustee
for The Zuercher Trust of 1999.  Steven T. Gubner, Esq., and
Richard D. Burstein, Esq., at Ezra Brutzkus Gubner LLP, represent
the Chapter 11 Trustee as bankruptcy counsel.


ZUERCHER TRUST: Oct. 2 Auction for 2400-2420 Bayshore Property
--------------------------------------------------------------
The Hon. Hannah L. Blumenstiel of the U.S. Bankruptcy Court for
the Northern District of California scheduled for Oct. 2, 2014, at
at 10:00 a.m. the hearing on the motion filed by Peter S. Kravitz,
Chapter 11 Trustee for the bankruptcy case of The Zuercher Trust
of 1999, to sell the estate's real and personal property located
at 2400-2420 Bayshore Boulevard, San Francisco, CA 94134.

The Court approved on Aug. 19, 2014, the sale procedures and
overbid protections in connection with the sale.

Rasmi Zeidan has been identified as the proposed purchaser for the
purchase of the Bayshore Property for $3.05 million.

Potential purchasers interested in submitting a bid on the
Bayshore Property must send an offer by 5:00 p.m. (prevailing
Pacific Time) five business days (Sept. 25, 2014) before the
scheduled sale hearing and auction date.  The minimum bid amount
for a party seeking to overbid is $3.15 million.  Each subsequent
overbid must be in an increment of at least $25,000.

The Chapter 11 Trustee must receive a deposit by certified check
or other verifiable means, in the amount of $200,000 so that the
funds are received concurrent with the proposed Offer.

If the sale to the successful bidder fails to close within 45
calendar days of entry of an order approving the sale, for any
reason other than the inability of the Chapter 11 Trustee to
transfer good title, the deposit will be deemed liquidated damages
and forfeit to the bankruptcy estate.  The Chapter 11 Trustee will
be authorized to accept back-up Offers from any qualified bidder
for the purchase of the Bayshore Property.  In the event the sale
of the Bayshore Property to the successful bidder fails to close,
the Chapter 11 Trustee may close a sale to the back-up bidder
without further motion or court order.

Sterling Heatley, the minority co-owner of the Bayshore Property,
filed an objection to the sale motion on July 22, 2014.  Sterling
demanded that the Chapter 11 Trustee provide notice of the
auction/sale date set by the Court and the terms of the overbid
requirements on the multiple listing service and any other similar
platforms the Trustee has used to market the Bayshore Property.

According to Sterling, the Court should not approve a minimum 25%
of the offer deposit in order for a potential over-bidder to
become a qualified bidder.  There is no reason for the Court to
require a potential over-bidder to tie up at least $650,000 in
cash to ensure that a potential over-bidder is qualified.  By
contrast, the Chapter 11 Trustee has agreed to accept a deposit
from Mr. Zeidan in the amount of $105,000.

Sterling is available for free at:

      LAW OFFICES OF DAVID M. WISEBLOOD
      David M. Wiseblood, Esq.
      601 Montgomery Street, Suite 2000
      San Francisco, CA 94111
      Tel: (415) 547-2700
      Fax: (415) 547-2701
      E-Mail: dwiseblood@wisebloodlaw.com

On July 25, 2014, the Debtor and Monica Hujazi submitted a
memorandum of points and authorities in opposition to the Chapter
11 Trustee's motion for court approval of sale procedures for the
Bayshore Property.

According to the Chapter 11 Trustee, he has had three different
contingent buyers for the Bayshore Property, all of whom have
backed out.  The Bayshore Property, says the Chapter 11 Trustee,
is not a prime piece of real estate with a line of buyers fighting
for the chance to purchase the property.

"Any contention otherwise is nothing more than wishful thinking.
The condition of the property is 'as-is with all faults.'
However, the Trustee has a buyer under contract and willing to
commit to the purchase of the property for a reasonable and fair
market price in an 'as-is' condition.  If bid procedures are not
approved, this sale will also fall through and the estate will be
back at square one.  The Trustee therefore asks the Court to
approve bid procedures and allow this sale to move forward to the
next stage in a timely manner," the Chapter 11 Trustee said in a
filing dated July 25.

A copy of the response is available for free at:

                     http://is.gd/DjWg8K

              About The Zuercher Trust of 1999

San Mateo, California-based The Zuercher Trust of 1999 filed for
Chapter 11 bankruptcy (Bankr. N.D. Cal. Case No. 12-32747) on
Sept. 26, 2012.  Bankruptcy Judge Hannah L. Blumenstiel presides
over the case.  Derrick F. Coleman, Esq., at Coleman Frost LLP,
served as the Debtor's counsel.  The Debtor is now represented by
Bradley Kass, Esq., at Kass & Kass Law Offices.

The Debtor, a business trust, estimated assets and debts of
$10 million to $50 million.  The Debtor owns property in
621 S. Union Avenue, in Los Angeles.  The property is currently in
REAP for alleged city health code violations.

In its schedules, the Debtor disclosed $28,450,000 in total assets
and $12,084,015 in total liabilities.

The petition was signed by Monica H. Hujazi, trustee of the
Zuercher Trust.

As reported in the TCR on March 22, 2013, August B. Landis, Acting
U.S. Trustee for Region 17, obtained authorization from the U.S.
Bankruptcy Court to appoint Peter S. Kravitz as Chapter 11 Trustee
for The Zuercher Trust of 1999.  Steven T. Gubner, Esq., and
Richard D. Burstein, Esq., at Ezra Brutzkus Gubner LLP, represent
the Chapter 11 Trustee as bankruptcy counsel.


* Case Remanded to Determine Fraudulent Intent
----------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. District Judge Joseph F. Bianco, in a
case involving a couple in which the husband claimed he
transferred all his interest in the home to his wife several years
before bankruptcy, reversed a bankruptcy judge's decision and
remanded the case to the bankruptcy court for a determination as
to whether there was required fraudulent intent.

The case is United General Title Insurance Co. v. Karanasos, 13-
cv-7153, U.S. District Court, Eastern District of New York
(Brooklyn).


* Chicago District Court Upholds Chapter 13 Lien Stripping
----------------------------------------------------------
Bill Rochelle and Sherri Toub, bankruptcy columnists for Bloomberg
News, reported that U.S. District Judge Marvin E. Aspen ruled is
the latest to rule that a Chapter 13 consumer bankrupt can "strip
off" a subordinate mortgage when a home is worth less than prior
mortgages.  According to the report, Judge Aspen quoted the U.S.
Court of Appeals in Chicago as saying there is a "broad consensus"
allowing a bankruptcy court to remove a subordinate mortgage when
the property is worth less than prior mortgages.

The case is Brendan Mortgage Inc. v. Hall, 13-cv-5870, U.S.
District Court, Northern District Illinois (Chicago).


* CFTC Said to Alert Justice Department of Criminal Rate Rigging
----------------------------------------------------------------
Matthew Leising and Tom Schoenberg, writing for The Wall Street
Journal, reported that derivatives regulators told the U.S.
Justice Department they've found evidence of criminal behavior
following an investigation into banks' alleged manipulation of
ISDAfix, a benchmark used to set rates for trillions of dollars of
financial products.  According to the report, the U.S. Commodity
Futures Trading Commission, which first sent subpoenas to the
world's largest banks in November 2012 to determine whether
ISDAfix was rigged, has flagged its findings to prosecutors,
according to a person familiar with the matter.


* Credit Card Industry Heightens Security Efforts
-------------------------------------------------
Robin Sidel, writing for The Wall Street Journal, reported that
the credit-card industry is accelerating efforts to keep sensitive
customer information out of the hands of merchants, as a rash of
data breaches at major U.S. retailers erodes confidence in
electronic payment systems.  According to the report, Visa Inc.
and MasterCard Inc. are rolling out technology that replaces
cardholder information such as account numbers and expiration
dates with a unique series of numbers that validates the
customer's identity.  The move is part of a broader push by card-
issuing banks and merchants to improve security for electronic
payments, the Journal said.


* S&P Faces Squeeze After $1.3 Billion Countrywide Fine
-------------------------------------------------------
Edvard Pettersson, writing for Bloomberg News, reported that
Standard & Poor's chances of settling the government's lawsuit
over mortgage-bond ratings for less than $1 billion may have
slipped away after Bank of America Corp.'s Countrywide unit was
socked with a $1.3 billion fine.  According to the report, the
Countrywide ruling, the first to lay out what penalties financial
institutions could face under a 1989 bank-fraud law the Obama
administration is using against alleged culprits of the subprime
mortgage crisis, has strengthened the government's hand against
McGraw Hill Financial Inc.'s S&P, said Peter Henning, a law
professor at Wayne State University.


* Hopkins & Carley Adds Family Wealth, Tax Planning Vets
--------------------------------------------------------
Hopkins & Carley, a law firm serving Silicon Valley businesses and
individuals, adds estate planning veterans John P. Golden and
James M. Hager.  Joining as Of Counsel in the Family Wealth & Tax
Planning Department, Golden will be practicing at the firm's Palo
Alto, Calif. office and Hager in the San Jose, Calif. office.

"Today Hopkins & Carley provides a broad range of services to
businesses and individuals, but the firm's roots lie in tax and
estate planning, and our practice in that area remains one of the
most robust in the region," said Hopkins & Carley's Managing
Shareholder Jeffrey Essner.  "We are very pleased to continue that
legacy by adding two very well-respected and accomplished
attorneys to our team.  Their extensive background and years of
experience in estate planning will undoubtedly benefit our
clients, as well as increase our reach across the entire
peninsula."

With more than 35 years of experience in estate planning, Golden
joins the firm from Basye & Golden.  A California Certified
Specialist in Probate, Estate Planning & Trust Law, he counsels
clients on estate planning and administration of estates and
trusts.  Golden also advises clients on business formation,
preparation and audit of estate, gift, generation-skipping, and
fiduciary income tax returns, as well as planned charitable gifts,
transactional real estate work and trust and estate litigation.
"The reputation of Hopkins & Carley's Family Wealth & Tax Planning
Department is well known and their synergy among practices will be
a great benefit to my clients. I am eager to be part of an
environment in which I will have the opportunity to work with the
best in the field," said Golden.

A frequent speaker on estate planning, estate and trust
administration and tax, Golden is a member of the Peninsula Estate
Planning Council's board of directors.  He is also a member of the
American Bar Association (Real Property, Probate & Trust Law
Section, Law Practice Management Sections), State Bar of
California (Trust and Estate Section) and San Mateo County Bar
(Estate Planning & Probate Section).  Golden received his J.D.
from the University of California, Hastings College of the Law
(1978) and a B.S. from the University of Southern California
(1975).

Previously an attorney at Hopkins & Carley, Hager returns to the
firm after most recently practicing as a principal with the
accounting firm Moss Adams LLP.  He represents a wide variety of
clients, including venture capitalists, corporate executives,
family businesses, real estate developers, business leaders,
philanthropists, sports agents, athletes and sports franchises.
Hager counsels high-net-worth individuals and families, and their
business enterprises, on tax, business and strategic planning as
well as trusts, family enterprises, business entities and
charitable giving vehicles.

"I have always held the firm in the highest regard for the caliber
of its attorneys and its quality of work. In returning to the
firm, the expertise and depth of Hopkins & Carley's attorneys will
provide me with extensive resources to service my client base,"
said Hager.

Practicing in Silicon Valley since 1981, Hager earned his J.D.
from the Santa Clara University School of Law (1979), an LL.M. in
Taxation from the Golden Gate University School of Law (1981) and
a B.A. from the University of California, Los Angeles (1976).

Hopkins & Carley -- http://www.hopkinscarley.com/-- is a premiere
law firm with its primary offices in San Jose and Palo Alto.
Meeting the legal needs of high-net-worth individuals,
entrepreneurs, business owners, and growth and midsize companies
in a variety of industries for more than 40 years, Hopkins &
Carley specializes in the areas of litigation, intellectual
property, real estate, employment, estate planning, and corporate,
tax and business transactions.


* Mesch Clark Attorney Appointed as Federal Bankruptcy Judge
------------------------------------------------------------
Phil Villarreal, writing for KGUN9-TV, reported that Tucson
attorney Scott H. Gan has been appointed as a judge at the U.S.
Bankruptcy Court for the District of Arizona, according to an
announcement made by Chief Judge Alex Kozinski of the U.S. Court
of Appeals.  Gan, 59, is a shareholder and partner at Mesch, Clark
& Rothschild, P.C., where he worked on the firm's bankruptcy
section, the report related.


* Sedgwick Snaps Up Ex-Lubin Olson Real Estate Pro
--------------------------------------------------
Sedgwick LLP announced that Paula Crow, Esq. --
paula.crow@sedgwicklaw.com -- has joined Sedgwick as partner in
the San Francisco office, effective August 25.

Joining from Lubin Olson & Niewiadomski LLP (formerly Stein &
Lubin), Paula brings more than 30 years of experience to the Real
Estate & Finance practice, where she will reunite with her former
Stein & Lubin colleague, Laurie Gustafson. Paula's understanding
of transactional real estate law will be a great asset to support
the Land Use practice and others, including real estate
litigation, business litigation, bankruptcy, construction,
workouts, foreclosure, affordable housing and redevelopment.

Paula's representation of major publicly held companies in their
leasing and purchase and sale transactions includes representing
the tenant on the second largest commercial lease in San Francisco
last year. Her work for these clients extends throughout the U.S.
and Canada and to major international business centers. She
handles a variety of projects ranging from multi-family rental
housing and commercial condominiums to class A corporate
headquarters office space, and has gained specialized knowledge
working with Oversight Boards in connection with the termination
and winding down of redevelopment agencies in California.
Paula will be a valuable addition to the firm as the transactional
practice grows and we take on more complex projects. She also has
experience with live entertainment venue leasing and looks forward
to cross-marketing with our Live Entertainment Task Force.

In addition to commercial real estate, Paula has significant
experience in technology business development and legal
transactions in energy and environmental technologies. She is well
connected in the Bay Area through her work with CREW SF
(Commercial Real Estate Women San Francisco) and is a 1980
graduate of Berkeley Law.


* Large Companies With Insolvent Balance Sheet
----------------------------------------------

                                                Total
                                               Share-      Total
                                     Total   Holders'    Working
                                    Assets     Equity    Capital
   Company         Ticker             ($MM)      ($MM)      ($MM)
   -------         ------           ------   --------    -------
ABSOLUTE SOFTWRE   OU1 GR            129.2       (9.4)       0.4
ABSOLUTE SOFTWRE   ALSWF US          129.2       (9.4)       0.4
ABSOLUTE SOFTWRE   ABT CN            129.2       (9.4)       0.4
ADVANCED CELL TE   ACTCD US            5.6      (20.7)     (19.6)
ADVANCED CELL TE   T2N1 GR             5.6      (20.7)     (19.6)
ADVANCED EMISSIO   ADES US           106.4      (46.1)     (15.3)
ADVANCED EMISSIO   OXQ1 GR           106.4      (46.1)     (15.3)
ADVENT SOFTWARE    AXQ GR            452.2      (86.0)     (99.3)
ADVENT SOFTWARE    ADVS US           452.2      (86.0)     (99.3)
AEMETIS INC        AMTX US            95.4       (1.1)     (18.1)
AEMETIS INC        DW51 GR            95.4       (1.1)     (18.1)
AGILE THERAPEUTI   AGRX US            66.3       48.3       48.9
AIR CANADA-CL A    AIDIF US       10,522.0   (1,822.0)    (226.0)
AIR CANADA-CL A    ADH TH         10,522.0   (1,822.0)    (226.0)
AIR CANADA-CL A    ADH GR         10,522.0   (1,822.0)    (226.0)
AIR CANADA-CL A    AC/A CN        10,522.0   (1,822.0)    (226.0)
AIR CANADA-CL B    AIDEF US       10,522.0   (1,822.0)    (226.0)
AIR CANADA-CL B    AC/B CN        10,522.0   (1,822.0)    (226.0)
ALLIANCE HEALTHC   AIQ US            468.1     (131.0)      59.7
AMC NETWORKS-A     9AC GR          3,685.9     (396.1)     689.3
AMC NETWORKS-A     AMCX US         3,685.9     (396.1)     689.3
AMC NETWORKS-A     AMCX* MM        3,685.9     (396.1)     689.3
AMER RESTAUR-LP    ICTPU US           33.5       (4.0)      (6.2)
AMYLIN PHARMACEU   AMLN US         1,998.7      (42.4)     263.0
AMYRIS INC         AMRS US           236.8     (112.5)      33.5
AMYRIS INC         3A0 TH            236.8     (112.5)      33.5
AMYRIS INC         3A0 GR            236.8     (112.5)      33.5
ANGIE'S LIST INC   ANGI US           128.4      (36.6)     (54.9)
ANGIE'S LIST INC   8AL GR            128.4      (36.6)     (54.9)
ARRAY BIOPHARMA    ARRY US           139.1      (25.7)      68.9
ASPEN AEROGELS I   ASPN US            88.2      (80.7)      (5.2)
ASPEN AEROGELS I   AP1 GR             88.2      (80.7)      (5.2)
ASTERIAS BIO       ASTY US             1.9       (5.1)      (6.7)
AUTOZONE INC       AZO US          7,371.8   (1,808.2)  (1,016.1)
AUTOZONE INC       AZ5 TH          7,371.8   (1,808.2)  (1,016.1)
AUTOZONE INC       AZOEUR EU       7,371.8   (1,808.2)  (1,016.1)
AUTOZONE INC       AZ5 GR          7,371.8   (1,808.2)  (1,016.1)
AVALANCHE BIOTEC   AAVL US             1.1       (0.7)      (0.9)
AVALANCHE BIOTEC   AVU GR              1.1       (0.7)      (0.9)
AXIM BIOTECHNOLO   AXIM US             0.1       (0.1)      (0.1)
BENEFITFOCUS INC   BNFT US           141.0      (14.6)      52.3
BENEFITFOCUS INC   BTF GR            141.0      (14.6)      52.3
BERRY PLASTICS G   BP0 GR          5,419.0     (118.0)     654.0
BERRY PLASTICS G   BERY US         5,419.0     (118.0)     654.0
BRP INC/CA-SUB V   B15A GR         1,895.9      (44.8)     133.6
BRP INC/CA-SUB V   BRPIF US        1,895.9      (44.8)     133.6
BRP INC/CA-SUB V   DOO CN          1,895.9      (44.8)     133.6
BURLINGTON STORE   BURL US         2,555.3     (140.1)     102.3
BURLINGTON STORE   BUI GR          2,555.3     (140.1)     102.3
CABLEVISION SY-A   CVC US          6,701.1   (5,133.2)     338.4
CABLEVISION SY-A   CVY GR          6,701.1   (5,133.2)     338.4
CABLEVISION-W/I    8441293Q US     6,701.1   (5,133.2)     338.4
CABLEVISION-W/I    CVC-W US        6,701.1   (5,133.2)     338.4
CADIZ INC          2ZC GR             57.9      (45.6)       4.7
CADIZ INC          CDZI US            57.9      (45.6)       4.7
CAESARS ENTERTAI   C08 GR         27,069.4   (2,578.4)   1,716.6
CAESARS ENTERTAI   CZR US         27,069.4   (2,578.4)   1,716.6
CALLIDUS CAPITAL   CBL CN            444.5       (4.3)       -
CALLIDUS CAPITAL   28K GR            444.5       (4.3)       -
CAPMARK FINANCIA   CPMK US        20,085.1     (933.1)       -
CASELLA WASTE      CWST US           656.6       (7.6)     (11.6)
CATALENT INC       0C8 GR          3,041.6     (387.0)     268.2
CATALENT INC       0C8 TH          3,041.6     (387.0)     268.2
CATALENT INC       CTLT US         3,041.6     (387.0)     268.2
CC MEDIA-A         CCMO US        14,752.2   (9,315.2)   1,225.6
CENTENNIAL COMM    CYCL US         1,480.9     (925.9)     (52.1)
CHOICE HOTELS      CZH GR            628.4     (412.5)     184.3
CHOICE HOTELS      CHH US            628.4     (412.5)     184.3
CIENA CORP         CIEN TE         2,100.4      (45.2)     889.3
CIENA CORP         CIEN US         2,100.4      (45.2)     889.3
CIENA CORP         CIE1 TH         2,100.4      (45.2)     889.3
CIENA CORP         CIE1 GR         2,100.4      (45.2)     889.3
CINCINNATI BELL    CBB US          2,176.9     (556.0)     337.7
CORINDUS VASCULA   CVRS US             0.0       (0.0)      (0.0)
CROWN BAUS CAPIT   CBCAE US            0.0       (0.0)      (0.0)
DENNY'S CORP       DENN US           284.2       (0.0)     (21.5)
DENNY'S CORP       DE8 GR            284.2       (0.0)     (21.5)
DEX MEDIA INC      DXM US          2,084.0     (864.0)     139.0
DEX MEDIA INC      9DX GR          2,084.0     (864.0)     139.0
DIRECTV            DTV US         22,126.0   (6,127.0)    (624.0)
DIRECTV            DTV CI         22,126.0   (6,127.0)    (624.0)
DIRECTV            DTVEUR EU      22,126.0   (6,127.0)    (624.0)
DIRECTV            DIG1 GR        22,126.0   (6,127.0)    (624.0)
DOMINO'S PIZZA     EZV GR            495.7   (1,289.7)     105.0
DOMINO'S PIZZA     EZV TH            495.7   (1,289.7)     105.0
DOMINO'S PIZZA     DPZ US            495.7   (1,289.7)     105.0
DUN & BRADSTREET   DNB US          1,773.4   (1,077.1)     (60.3)
DUN & BRADSTREET   DB5 GR          1,773.4   (1,077.1)     (60.3)
EDGEN GROUP INC    EDG US            883.8       (0.8)     409.2
EMPIRE RESORTS I   NYNY US            46.1       (9.5)      (7.2)
EMPIRE STATE -ES   ESBA US         1,122.2      (31.6)    (925.9)
EMPIRE STATE-S60   OGCP US         1,122.2      (31.6)    (925.9)
FAIRPOINT COMMUN   FONN GR         1,524.8     (360.6)      20.9
FAIRPOINT COMMUN   FRP US          1,524.8     (360.6)      20.9
FERRELLGAS-LP      FEG GR          1,589.9      (88.9)      89.0
FERRELLGAS-LP      FGP US          1,589.9      (88.9)      89.0
FREESCALE SEMICO   FSL US          3,265.0   (3,728.0)   1,334.0
FREESCALE SEMICO   1FS GR          3,265.0   (3,728.0)   1,334.0
FREESCALE SEMICO   1FS TH          3,265.0   (3,728.0)   1,334.0
GAMING AND LEISU   2GL GR          2,581.7      (72.9)     (41.1)
GAMING AND LEISU   GLPI US         2,581.7      (72.9)     (41.1)
GENCORP INC        GCY GR          1,675.6      (49.0)      86.7
GENCORP INC        GY US           1,675.6      (49.0)      86.7
GENTIVA HEALTH     GHT GR          1,250.6     (285.7)     112.2
GENTIVA HEALTH     GTIV US         1,250.6     (285.7)     112.2
GLG PARTNERS INC   GLG US            400.0     (285.6)     156.9
GLG PARTNERS-UTS   GLG/U US          400.0     (285.6)     156.9
GLOBALSTAR INC     GSAT US         1,327.4     (204.5)      (8.9)
GOLD RESERVE INC   GDRZF US           29.9       (4.2)       9.9
GOLD RESERVE INC   GOD GR             29.9       (4.2)       9.9
GOLD RESERVE INC   GRZ CN             29.9       (4.2)       9.9
GRAHAM PACKAGING   GRM US          2,947.5     (520.8)     298.5
HCA HOLDINGS INC   2BH GR         29,822.0   (6,588.0)   2,877.0
HCA HOLDINGS INC   HCA US         29,822.0   (6,588.0)   2,877.0
HCA HOLDINGS INC   2BH TH         29,822.0   (6,588.0)   2,877.0
HD SUPPLY HOLDIN   5HD GR          6,714.0     (701.0)   1,438.0
HD SUPPLY HOLDIN   HDS US          6,714.0     (701.0)   1,438.0
HERBALIFE LTD      HOO GR          2,435.7     (404.1)     552.4
HERBALIFE LTD      HLF US          2,435.7     (404.1)     552.4
HERBALIFE LTD      HLFEUR EU       2,435.7     (404.1)     552.4
HOVNANIAN ENT-A    HOV US          1,893.7     (443.1)   1,107.3
HOVNANIAN ENT-A    HO3 GR          1,893.7     (443.1)   1,107.3
HOVNANIAN ENT-B    HOVVB US        1,893.7     (443.1)   1,107.3
HOVNANIAN-A-WI     HOV-W US        1,893.7     (443.1)   1,107.3
HUGHES TELEMATIC   HUTC US           110.2     (101.6)    (113.8)
HUGHES TELEMATIC   HUTCU US          110.2     (101.6)    (113.8)
IMPRIVATA INC      I62 GR             35.6       (4.3)     (10.8)
IMPRIVATA INC      IMPR US            35.6       (4.3)     (10.8)
INCYTE CORP        ICY GR            679.1     (171.0)     464.6
INCYTE CORP        INCY US           679.1     (171.0)     464.6
INCYTE CORP        ICY TH            679.1     (171.0)     464.6
INFOR US INC       LWSN US         6,778.1     (460.0)    (305.9)
INTERTAIN GROUP    IT CN               0.0       (0.3)      (0.3)
IPCS INC           IPCS US           559.2      (33.0)      72.1
ISTA PHARMACEUTI   ISTA US           124.7      (64.8)       2.2
JUST ENERGY GROU   JE US           1,511.6     (169.0)     230.1
JUST ENERGY GROU   JE CN           1,511.6     (169.0)     230.1
JUST ENERGY GROU   1JE GR          1,511.6     (169.0)     230.1
KINAXIS INC        KXS CN             44.6      (70.4)      (6.4)
KINAXIS INC        KXSCF US           44.6      (70.4)      (6.4)
KINAXIS INC        9KX GR             44.6      (70.4)      (6.4)
L BRANDS INC       LTD GR          6,870.0     (503.0)   1,119.0
L BRANDS INC       LTD TH          6,870.0     (503.0)   1,119.0
L BRANDS INC       LB US           6,870.0     (503.0)   1,119.0
LEAP WIRELESS      LWI TH          4,662.9     (125.1)     346.9
LEAP WIRELESS      LWI GR          4,662.9     (125.1)     346.9
LEAP WIRELESS      LEAP US         4,662.9     (125.1)     346.9
LEE ENTERPRISES    LEE US            828.2     (165.0)     (26.0)
LORILLARD INC      LO US           2,893.0   (2,228.0)     900.0
LORILLARD INC      LLV GR          2,893.0   (2,228.0)     900.0
LORILLARD INC      LLV TH          2,893.0   (2,228.0)     900.0
MANNKIND CORP      NNF1 TH           236.3      (46.4)     (74.3)
MANNKIND CORP      NNF1 GR           236.3      (46.4)     (74.3)
MANNKIND CORP      MNKD US           236.3      (46.4)     (74.3)
MARRIOTT INTL-A    MAQ TH          6,830.0   (1,720.0)  (1,153.0)
MARRIOTT INTL-A    MAQ GR          6,830.0   (1,720.0)  (1,153.0)
MARRIOTT INTL-A    MAR US          6,830.0   (1,720.0)  (1,153.0)
MDC PARTNERS-A     MDZ/A CN        1,685.0      (87.5)    (228.9)
MDC PARTNERS-A     MD7A GR         1,685.0      (87.5)    (228.9)
MDC PARTNERS-A     MDCA US         1,685.0      (87.5)    (228.9)
MERITOR INC        MTOR US         2,810.0     (527.0)     373.0
MERITOR INC        AID1 GR         2,810.0     (527.0)     373.0
MERRIMACK PHARMA   MP6 GR            129.8      (77.1)      13.0
MERRIMACK PHARMA   MACK US           129.8      (77.1)      13.0
MICHAELS COS INC   MIM GR          1,716.0   (2,734.0)     493.0
MICHAELS COS INC   MIK US          1,716.0   (2,734.0)     493.0
MONEYGRAM INTERN   MGI US          4,784.5     (142.0)     119.2
MORGANS HOTEL GR   MHGC US           684.8     (211.2)     124.9
MORGANS HOTEL GR   M1U GR            684.8     (211.2)     124.9
MOXIAN CHINA INC   MOXC US             4.1       (0.4)      (3.2)
MPG OFFICE TRUST   1052394D US     1,280.0     (437.3)       -
NATIONAL CINEMED   XWM GR          1,005.2     (188.3)      79.1
NATIONAL CINEMED   NCMI US         1,005.2     (188.3)      79.1
NAVISTAR INTL      NAV US          7,702.0   (4,046.0)   1,126.0
NAVISTAR INTL      IHR TH          7,702.0   (4,046.0)   1,126.0
NAVISTAR INTL      IHR GR          7,702.0   (4,046.0)   1,126.0
NEKTAR THERAPEUT   NKTR US           478.1      (35.4)     213.9
NEKTAR THERAPEUT   ITH GR            478.1      (35.4)     213.9
NET ELEMENT INC    NETE US            16.6       (6.2)       0.3
NEW ENG RLTY-LP    NEN US            179.7      (24.5)       -
NORTHWEST BIO      NWBO US            12.6      (29.9)     (30.0)
NORTHWEST BIO      NBYA GR            12.6      (29.9)     (30.0)
NYMOX PHARMACEUT   NYMX US             0.8       (5.8)      (4.0)
OMEROS CORP        OMER US            41.0      (10.6)      26.8
OMEROS CORP        3O8 GR             41.0      (10.6)      26.8
OMTHERA PHARMACE   OMTH US            18.3       (8.5)     (12.0)
PALM INC           PALM US         1,007.2       (6.2)     141.7
PHIBRO ANIMAL HE   PAHC LN           473.3      (78.7)     177.3
PHIBRO ANIMAL HE   PAO EU            473.3      (78.7)     177.3
PHIBRO ANIMAL HE   PAO GR            473.3      (78.7)     177.3
PHIBRO ANIMAL-A    PB8 GR            473.3      (78.7)     177.3
PHIBRO ANIMAL-A    PAHC US           473.3      (78.7)     177.3
PHILIP MORRIS IN   4I1 GR         36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PM FP          36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   4I1 TH         36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PM US          36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PMI SW         36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PM1CHF EU      36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PM1EUR EU      36,325.0   (7,847.0)   1,130.0
PHILIP MORRIS IN   PM1 TE         36,325.0   (7,847.0)   1,130.0
PLAYBOY ENTERP-A   PLA/A US          165.8      (54.4)     (16.9)
PLAYBOY ENTERP-B   PLA US            165.8      (54.4)     (16.9)
PLY GEM HOLDINGS   PG6 GR          1,096.8      (91.4)     217.3
PLY GEM HOLDINGS   PGEM US         1,096.8      (91.4)     217.3
PROTALEX INC       PRTX US             1.7       (8.2)       1.2
PROTECTION ONE     PONE US           562.9      (61.8)      (7.6)
QUALITY DISTRIBU   QDZ GR            445.6      (35.6)     115.6
QUALITY DISTRIBU   QLTY US           445.6      (35.6)     115.6
QUINTILES TRANSN   QTS GR          2,978.6     (621.6)     511.6
QUINTILES TRANSN   Q US            2,978.6     (621.6)     511.6
RADIOSHACK CORP    RSH* MM         1,149.2      (63.0)     559.2
RADNET INC         RDNT US           737.2       (9.3)      61.4
RADNET INC         PQI GR            737.2       (9.3)      61.4
RAYONIER ADV       RYQ GR          1,225.0      (38.8)     136.3
RAYONIER ADV       RYAM US         1,225.0      (38.8)     136.3
REGAL ENTERTAI-A   RGC US          2,675.7     (750.5)      26.2
REGAL ENTERTAI-A   RETA GR         2,675.7     (750.5)      26.2
RENAISSANCE LEA    RLRN US            57.0      (28.2)     (31.4)
RENTPATH INC       PRM US            208.0      (91.7)       3.6
REVLON INC-A       RVL1 GR         1,938.7     (571.8)     275.3
REVLON INC-A       REV US          1,938.7     (571.8)     275.3
RITE AID CORP      RAD US          6,946.5   (2,046.4)   1,643.0
RITE AID CORP      RTA TH          6,946.5   (2,046.4)   1,643.0
RITE AID CORP      RTA GR          6,946.5   (2,046.4)   1,643.0
ROCKWELL MEDICAL   RMTI US            25.9       (3.9)       6.4
ROCKWELL MEDICAL   RWM GR             25.9       (3.9)       6.4
RURAL/METRO CORP   RURL US           303.7      (92.1)      72.4
RYERSON HOLDING    RYI US          1,989.5     (114.5)     754.6
RYERSON HOLDING    7RY GR          1,989.5     (114.5)     754.6
RYERSON HOLDING    7RY TH          1,989.5     (114.5)     754.6
SALLY BEAUTY HOL   S7V GR          1,983.6     (362.8)     616.8
SALLY BEAUTY HOL   SBH US          1,983.6     (362.8)     616.8
SEQUENOM INC       SQNM US           131.6      (49.3)      51.4
SILVER SPRING NE   SSNI US           534.3     (111.7)      83.2
SILVER SPRING NE   9SI TH            534.3     (111.7)      83.2
SILVER SPRING NE   9SI GR            534.3     (111.7)      83.2
SIRIUS XM CANADA   SIICF US          409.2      (78.8)    (157.0)
SIRIUS XM CANADA   XSR CN            409.2      (78.8)    (157.0)
SPORTSMAN'S WARE   06S GR            292.3      (44.5)      76.1
SPORTSMAN'S WARE   SPWH US           292.3      (44.5)      76.1
SUNGAME CORP       SGMZE US            2.2       (3.6)      (3.9)
SUPERVALU INC      SJ1 TH          4,354.0     (682.0)     106.0
SUPERVALU INC      SJ1 GR          4,354.0     (682.0)     106.0
SUPERVALU INC      SVU* MM         4,354.0     (682.0)     106.0
SUPERVALU INC      SVU US          4,354.0     (682.0)     106.0
THERAVANCE         THRX US           605.6     (187.5)     303.2
THERAVANCE         HVE GR            605.6     (187.5)     303.2
THRESHOLD PHARMA   THLD US            84.2      (28.3)      42.8
THRESHOLD PHARMA   NZW1 GR            84.2      (28.3)      42.8
TOWN SPORTS INTE   CLUB US           412.2      (55.1)      25.1
TRANSDIGM GROUP    TDG US          6,711.0   (1,591.5)   1,073.0
TRANSDIGM GROUP    T7D GR          6,711.0   (1,591.5)   1,073.0
TRINET GROUP INC   TNETEUR EU      1,333.0      (36.7)      70.3
TRINET GROUP INC   TN3 GR          1,333.0      (36.7)      70.3
TRINET GROUP INC   TNET US         1,333.0      (36.7)      70.3
TRUPANION INC      TPW GR             49.0       (5.5)       7.2
TRUPANION INC      TRUP US            49.0       (5.5)       7.2
ULTRA PETROLEUM    UPM GR          2,958.1     (123.5)    (352.9)
ULTRA PETROLEUM    UPL US          2,958.1     (123.5)    (352.9)
ULTRA PETROLEUM    UPLEUR EU       2,958.1     (123.5)    (352.9)
UNISYS CORP        UIS1 SW         2,336.1     (628.5)     369.7
UNISYS CORP        USY1 TH         2,336.1     (628.5)     369.7
UNISYS CORP        UISEUR EU       2,336.1     (628.5)     369.7
UNISYS CORP        USY1 GR         2,336.1     (628.5)     369.7
UNISYS CORP        UISCHF EU       2,336.1     (628.5)     369.7
UNISYS CORP        UIS US          2,336.1     (628.5)     369.7
VECTOR GROUP LTD   VGR US          1,642.7      (31.1)     560.0
VECTOR GROUP LTD   VGR GR          1,642.7      (31.1)     560.0
VENOCO INC         VQ US             736.8     (139.5)    (777.3)
VERISIGN INC       VRSN US         2,322.6     (632.9)    (246.0)
VERISIGN INC       VRS GR          2,322.6     (632.9)    (246.0)
VERISIGN INC       VRS TH          2,322.6     (632.9)    (246.0)
VERSO PAPER CORP   VRS US          1,037.1     (549.4)      28.0
VIRGIN MOBILE-A    VM US             307.4     (244.2)    (138.3)
WEIGHT WATCHERS    WTW US          1,526.4   (1,397.9)      13.8
WEIGHT WATCHERS    WTWEUR EU       1,526.4   (1,397.9)      13.8
WEIGHT WATCHERS    WW6 GR          1,526.4   (1,397.9)      13.8
WEIGHT WATCHERS    WW6 TH          1,526.4   (1,397.9)      13.8
WEST CORP          WT2 GR          3,876.0     (672.7)     264.3
WEST CORP          WSTC US         3,876.0     (672.7)     264.3
WESTMORELAND COA   WME GR          1,583.7     (260.6)      50.8
WESTMORELAND COA   WLB US          1,583.7     (260.6)      50.8
XERIUM TECHNOLOG   TXRN GR           633.4       (8.9)     104.5
XERIUM TECHNOLOG   XRM US            633.4       (8.9)     104.5
XOMA CORP          XOMA GR            89.9       (7.6)      45.9
XOMA CORP          XOMA US            89.9       (7.6)      45.9
XOMA CORP          XOMA TH            89.9       (7.6)      45.9
YRC WORLDWIDE IN   YRCW US         2,179.5     (362.4)     201.2
YRC WORLDWIDE IN   YEL1 GR         2,179.5     (362.4)     201.2
YRC WORLDWIDE IN   YEL1 TH         2,179.5     (362.4)     201.2


                             *********

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.

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, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2014.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-241-8200.


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